The herald., 1895-04-10
The Plan Adopted by the Com
mittee in New York
DISPOSITION OF MORTGAGES
The Way in Which the Common Stock
Is to Be Listed
Uader the New Plan It Is Thought That
Percentage Can Be Paid to the Stock
holders The Details

NEW YORK. April 9.-The Atchison
reorganization committee issued their
plan today, which is signed by all the
members of the joint executive reorganl-
zation committee, and which has been
approved by the New York general reor-
ganization committee. the London bond
holders committee and Hope & Co. OF
Amsterdam. acting for the Dutch bond
holders. The plan proposed is to foreciose
the general mortgage and other mort
cages, if deemed advisable and vest the
properties acquired at foreclosure sale in
anew company. The capitalization OF the
Atchison company under the -eorganiza-
tion will compare as follows with the
present figures.
First-New general mortgage fours,
SCI, $50, ,5so, with fixed interest at S3,S79,-
6s3, and four per cent adjustment bonds.
SOL, 7233iI. non-cumulative until July !.
1900, in place of present general mort
csaee fours. amounting to 50, 80 80, 116,
with fixed interest of IS, IT'S
Secoud-New live per cent non-cumula-
tive preferred stock $li, ,4S5, 95l. in place
OF $77, ,957. 800 second mortgage A bonds,
with tixed interest at S., IL, 500: $40. 600 oW
second mortgage + bonds, with fixed in
terest of $40o, 900 and 81, 2j3 605 income
bonds Interchangeable for A with fixed in
terest of $50. IA.
Third-New prior four per cent bonds,
$L3, 02C. Ala, with fixed interest of $3.50. SIG,
in place of SO. 900, 900 guarantee fund six
per cent notes with $4,000 fixed inter-
cst;t 81. $50, ,OC0 equipment trust series a
five per cent bonds with SS7 800 fixed in
teyest, and $l,27G, 4l4 equipment lease
warrants.
Fourth-New common stock of $102 900
in each change for like amount OF pres
ent ntcapital stock. The Chicago and st.
Louis first mortgage six per cent bonds.
amounting to $500. 600 with $50. 0oo
fixad interest may be left undistGrbed.
The capitalization under the reorganiza-
tion will amount to S77, 36S, 2OS. with fixed
interest of "a. 52S, 5427. against an exist
ing capitalization OF $3.50, 2a5, 2i7, with
tred interest charges OF 80, $50, 0S3.
Under the plan the Atchison general
mortgage four per cent bonds with the
coupon of January l, 1894 and all subse
ouent coupons attached thereto, will re-
ceive IS per cent OF the principal in gem
eral mortgage fours 100-year gold bonds
bearing interest from October |, 1883. and
forty per cent in four per cen 10O-year
adjustment bonds bearing interest pay
able only out of net earnings, non cumu-
lative to July l. 1900, and cumulative at
ter that date. Atchison four per cent
seconds, class A. with coupon of April |,
1854, and all subsequent coupons attached,
will receive 113 per cent OF their par value
in five per cent non-cumulatlve paid
stock of the new company. The bonds are
assessed four per cent. of which two per
cent must be paid at the time of deposit
and the remainder when the securities
are ready for delivery. AtChison four per
cent mortgage bonds, class b, with cou-
pons of A pril 1. 1894, and all subsequent
coupons attached, and Atchison income
bonds of 1889, with coupon of September
J., 1894, and all subsequent coupons at
tached, will receive 1lS per cent of their
par value in the new company preferred
stuck. These bonds are assessed at four
per cent, to be paid under the conditions
governing the class A bonds and the IN
come bonds OF 1899, Atchison capital
stock IS assessed 81 per share. OF which
So must be paid at the time of deposit and
the remainder in installments OF not more
than 81 each at intervals of not less than
thirty days, VIXEN called for by the Joint
executive committee. Stockholders will
receive for each 1iJ shares an assessment
of SO paid thereon, 81 in common stock
and 10 in preferred stoclk of the new
com pany.
The new general mortgage is to provide
for the issue of additional general mort
gage bonds not exceeding the following
amounts: Five hundred thousand dollars
10 take up if necessary the Chicago and
St. Louis first mortgage 6per cent bonds :;
81, 500. 900 for taking up the outstanding
bonds provided for under the Atchiso !
circular of October Is, 1889. consisting of
various old liens $l5, 500. 900 to take up
existing guarantee fund notes. equipment
bonds and existing car tlust obligations /;
$50. 000,0 for the construction a Il ac-
QUESTION of Improvements and additions.
such bonds not to be issued at rate to
exceed 81, 900, 900 for each fiscal year. and
SIC, 900 900 to be used for the acquisition
of the Atlantic and Pacific railroad and
for the improvements of the property ac-
1uired a possible issue of yl7, 900 U0O pri or
lien bonds is also proivdod for. with Il
view to making additional provision for
funding or paying x'stlng guarantee
notes. equipment bonds and car trust obli-
cations and Tor setting apart a fund to
insure against contingencies.
The plan also reserves the right to issue
0,000 900 preferred stock for the acq lisi-
ton and improvement of the st. Louis
and San Francisco. Atlantic and Pacific
and Colorado Midland railroads. Ample
provision is made for the protection of
security holders in case OF tine issue OF
any of these authorized securities.
The cash assessments provided for will
furnish the company with Sl3. 567, GA for
floating debt, receivers certificates and
working capital for the new company. De-
posits of securities under the plan will be
made simultaneously by the depositors in
New York, Boston, London and Amster-
dam, beginning April Is.