New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-06-05
financial.
UnitedStateS C0rdageC0.
REORGANIZATION.
To Holders Of First Mortgage boh"'' an" "
Guaranteed. Preferred ana '""o"
30 ,h. V,itcd states COrdage Company.


of Tn. United states COrdage Company
The undersigned at the request Of the holders OF
large amount OF the bonds and STOCKS OF 'he '"eu
states Cordage Co. have consented 10 Ae' do ~
tee for the protection Of the rights OF al" parties '1
the REORGANIZATION OF the affairs or the Company
.o Commune. have prepared and deposited with the
Manhattan Trust Company plan OF reorsSn'~~
ton providing substance as foiiows'
FYrst-The organization Of corporation 10 acquire
the real estate and properties Of the present oom
pany ..,,,
second-The issu. Of the following securities
a. $1,000 O0D First Mortgage per cent. rH'y-i'"'
Gold Bonds. r,,,,
D. $500 600 Consolidated Mortgage per cent. Fifty
Year Cold Bonds. with voting power; per cent
interest non-cumuative. payable from rrohs III any
,oar ,rior 10 any dividend the stock proV'deu
that after q dividend Of per cent is paid upon the
stock Of the Company in any year. there snail DC
aid unon the consolidated bonds. further amount
not to exceed 2rs cent. from prohts sue" pro''
shall Justify the same. in there are arrears Oh
interest equal 20 said amount otherwise to the amount
., such interest as may be in arrear
c. sio 100000 Common Stock
Tbfrd The holders Of bonds and stocks OF 'e prese"
comnsny who shall become parties TO the reorSanzaoh'
and sb.u d.no.l, the same with the Committee. shall be
entitled receive bonds and stocks as hc'ei"'oo'e w.
scribei. the following basis oooo
a. Holders Of the present outstanding issue OF so"""
., honda shall be entitled exchange the same at par
FOR consolidated bonds the interest coupon maturing
July J. 1885 to be paid also in like bonds
rv.rv holder OF guaranteed stock shall subscribe at
mar fer said new First Mortgage bonds 'asgresatins
SO eco COO to Of $50 per share Tor MS r.
spoctive holding shall pay 81 per share upon be-
coming party TO agreement. and the remainder III
,hrsa ne,sr.nts upon the call Committee upon
not less than days notice and shall receive upon
the completion - such payments and upon the per-
forrnance of conditions II tho reorganization "Nen
prepared issue Is o: n, said isue = 1907 ~
n.r n the amount OF said payme cash. Interest on
such bonds adjusted and shall also receive NJ per
cent. in the common stock q the new company al
par upon par value Of his said holding deposited
under the agreement
t-,or. holder .. nrcferred stock shall like
subscribe at par said First Mortgage bonds %
the amount Of dosrspe share for his respective
holding and shall pay s. 30 per share upon becoming
party to the agreement and the remainder In three IN
,airan,s az above provided receiving bonds TO the
amount Of such payment. and forty per cent OF
common stock Of the New Company at par. upon the
par value of his holding Of preferred stock.
d. Every holder Of common stock shall In Ike manner
subscrb At mar for said new First Mortgage bonds 10
the amount Of dollars per share for his respective
holding shall pay 81 % per share upon becoming
party TO the agreement and the remainder IN three
instruments above provided receiving bonds to the
arnoun, ~ such cash payment. and twenty per cent
~ common stock Of the Company par upon the
par value OF his holding Of common stock
Holders Of securitle. the United States Cordage Co.
mus. deposit before June l4th 1895. with
the Manhattan Trust Company. New-fork City.
a follows
First Mortgage Bonds.
Guaranteed stock. with first instalment OF $500
per share
Preferred stock. with first instament Of $3.50
per share
Common stock. with first ins,slni-nt Of $1.25
per share IN New York funds
Negotiable. receipts Will BE- issued by the Manhattan
Trust Company deposit Of bonds, and OF Guaran-
t.ed Preferred Common stock. and application TO
list N. same Will be made to the Stock Exchange
Copies q plan reorganization and OF the form OF
assen, may be had on application TO the Manhattan
Trust Company. Wall Street. corner Of Nassau. New
York. - -.
WILLIAM BARBOUR.
JOHN I. WATERBURY,
Committee.
New-York. June T. 1895.