The evening world., 1895-08-27

The new bonds deliverable as above are to bear
interest from July 1. 1896 ihrst coupon to mature
jan /. ls97) at 30 per annum for two years and
~ thereafter
The bonds to he exchanged must bear all un-
paid coupons. and no allowance will be made for
coupons.
The assessments on the stock OF the New York
Lake Erie a Western Railroad Company are
nxei at Sl2 per share on preferred stock and us
per share on common stock; but. as prompt de-
posit Of tho securities and an early payment OF
considerable assessment fund are important
deduction OF s. per share oo the preferred stock
and s. per share on the common STOCK
will be allowed on account OF the assessments
above mentioned to such depositors as deposit
their stock within a short period discretionary
with the Committee and also pay the assessment,
less such deduction. within dates to he hkei by
adv et sefent such payment to be in four install
ments at least 30 days apart Such deposItors
Will thus obtain participation In the reor-
ganIIaton upon the payment OF the net sum OF
s. per share on the preferred stock.
sl2 per share on the common stock
Stockholders who do not comply with all these
conditions must pay the entire assessment. with
| out deduction. at the time OF depositng their
stock.
The stock Of tho New Company is TO be held
by Voting Trustees. TO be named by u.s. for hNe
years and thereafter until tn. new nrst preferred
stock shan have resolved ~ cash dividend in one
year. although the votng Trustees may deliver
the stock at an earlier date, The Voting Trqs-
tees viii. IN the meanwhile, deliver Certificates
Of BeEchcial Interest as usual.
An arraasemeut has been made with tn. New
YORK Pennsyyanis and Ohio Railroad Notus
Trustees, whereby, subject TO ratification by their
benenciar!es, they undertake. In consideration OF
securities set for,h In the plan TO toreclose
and deliver the y Y. +. q, property subject
only to the prior lien, equipment and leased.
! line securities for which reservation is made ~
tho plan
The cash requirements OF the plan are ''s,oi5
GNs. as follows;
Floating debt receivers certificates, g. 81 500 co.
Collateral Trust Bonds tEriej to be
PAID IN a. 10 Per ecnt pursuant 10
The terms of the Trust peei......... 3.sIsioo
Reconciliation First Lea Bonds tErseJ
to be paid on r...........,...,......,,.. $500 %.
Early constnIrton requirements tsys'
tenn and expcnses.................... 53g7 =,
Car trusts Tor lhTee yesrs............... 10000
i2j.OI5s,,
An Underwriting syndicate has agreed to pu,.
chase SIS OOJ. OOJ o. the per cent Prior Liea
iIanis alsJ tO guarantee the paymsn, OF the
,.ssucats by the Erie Stockholders. thus proyil
.Hg tao necessary funds
As fully set for,A IN ths plan. the hNci charge
Of the Erie - stem calculated On all bonds Nhig'
All be 90. staniias on completion OF the repT
slairatloni arc reduced from 50. 10000 to 81 $50
300 per aauum. and Tor the first Two years attc
reJrgan.zat!3a a further reduction OF about $500
900 per anngm is made. to amount nearly
eluaI!ed by the net earnings Of the properly iJ
1894. Furthermore, in the new AKei charge T.
Included the interest on large sum OF money
intended to be spent Immediately after reorgani.