New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-07-18
CORDAGE PLANS ANNOUNCED.
SCHEME OF THE NEW REORGANIZATION
COMMITTEE.
THE CoMPANrs AFFAIRS NOW IN THE HANDS OF
sTUyvEsANT FISH. GEORGE MOsLE AND
CHARLES A. PEABODY. JR-THEIR AID

THE COMPANrS AFFAIRS NOW IN THE HANDS OF
sTUyvEsANT FISH. GEORGE MosLE AND
CHARLES A. PEABODY JR.-THEIR AD-
DRESS TO THE STOCKHOLDERS.
The new Reorganization Committee. formed By the
Bondhoders Protective Committee Of the United
States Cordage Company. which will oppose the
pending plan Of the old Reorganization Committee.
was announced last evening. along with its proposed
plan. The committee, which VIII be known as
the "Bondhoders Reorganization Committee, IS
composed OF Stuyvesant Fish. president OF the ILL
nois Central Railroad. also vice-president OF the
National Park Bank, who Is large holder OF the
securities of the company: George Mosle member
OF the firm of Mosle Brothers. commission mousse
who also represents a large amount OF secur''ies'
and Charles A. Peabody. jr.. director OF the
Farmers Loan and Trust Company. who represents
the Farmers Loan and Trust Company ana 'he
Aston estate.
The plan Of the new committee is addresssd 10
the holders of first mortgage bonds and of guaran-
teed preferred and common stock OF the company
The committee has prepared and deposited with
the Farmers Loan and Trust Company pan OF
reorganization providing in substance as foNows'
First-The organization of a corporation TO acquire
such portions of the real estate and other proper
ties Of the present company as may be necessary
for the purposes OF the new corporation.
.Second-The issue of the following securities; la)
$1,000 first m Sey to s fnn som
cent thereafter. ID slo,ZV.VO common stoch
Thrd-The holders of bonds and stock OF the pres
ent company who shall become parties to the re-
organization shall deposit the same with the COM
mittee and shall be entitled TO receive bonds and
stock above described on the following basis 'al
Holders OF the $.54SO present outstanding issue OF
nrst mortgage bonds shall be entitled to exchange
the same for first mortgage bonds IN, the new
company at the rate OF 500 Of new bonds and 500
OF new stock for each $500 Of present bonds. (b)
Holders Of guaranteed stock shall. for each share
OF their holding. be entitled to subscribe slb. for
which they will receive said new first mortgage
bonds to the OF $l5 per share and new stock
to the amount of $50 per share tel Holders OF
preferred stock shall for each share or their hold
ing be entitled to subscribe 81 80; for which they Will
receive said first mortgage bonds 10 the amount
OF 81 80 per share, and new stock to the amount OF
si5 per share I'D Holders OF common stock shall
for each share OF their holding be entitled to sub
scribe 81 II. for which they will receive said new
first mortgage bonds to the amount OF 81 q per
share and new stock to the amount OF 81 80 per
share.
Subscriptions will be payable. one-third on the
deposit Of the stock under the reorganization agree
men and the rest in TWO instalments. as called for
by the committee on not less than ten-days notice
Holders OF securities must deposit the same on or
before Monday. August 8. With the Farmers Loan
and Trust Company Negotiable receipts Will be
issued by that company, and application 10 lis.
these receipts will be made 10 the Stock Exchange
Rurril,. Zabriske & Burrill are the counsel ana
John II. Rathbone. OF No q Broadst.. the secre-
tary OF the committee