New-York tribune., 1895-12-17

The foreeoinR percentages as to based upon
their principal amount undeposited bonds be de-
posted with all unpaid coupons
The l2 per In cash for 'unstamped receipts and
for heretofore undeposted General Mortgage Bonds rep
resents coupons from July l. 1893 to January l. 1896
and ia payable before completion of the reorganiza
ton with at per cent. per annum from the
dates maturity OF the respective coupons until paid
Dv means Of payment "unsamped certificates and
heretofore undeposed bonds placed the same
footing as the stamped certificates
The new bonds viii be for 81 900 each. Interest will
start January 1890 FIRST coupon to mature July
l. 1890 and will be at per cent. per annum.
The assessments are 20 per cent. on the First
Second. Third Preference Income Bonds; 20 per
cent (ssy $40 per share) the stock. and per cent
on Deferred Income Bonds
The assessment is payable in four equal ns,aimsnts
least 30 days apart The first instalment OF one
u the entire amount must be paid on or before
January 10Th. Is8
A Syndicate has been formed which definitely under
writes the payment of the assessments and all other
cash requirements Of the pian all about s2S 00O 600
and also guarantees the extension payment Of some
$50 Improvement Mortgage Bonds and Coal and
Company Bonds. most Of which will mature within
the years
The financial requirements. only OF the reorganza
but o the New Company. stated above. thus
fully provided for.
forth in the plan the annual fixed charges Of the
reorganized system will be about 100000. An almost
immediate reduction Of nearly t5OO.GO per
these fixed charges will however be effected through the
refundng extension Of the various bonds shortly
mature.
The net earnings the system past years
terminating November 30th
1892 .f2 i72 1870 60
ls3 l,lI2 6e0 30
1894 es399T 81
1895 ESTIMATED November). ........ 1924 i23
The New Company will start without floating debt and
will relieved from The embarrassment of Car Trusts
which during las. Ave have absorbed
81 800 go from its net income. and which, unless
provided for part OF comprehensive plan OF
organization further absorb 81 800 additional
in the next Ave years. The fixed charges vii, be
well within income Of the the past
years u depression. and the New Company will
only with substantial working cash capital
but also power provide facilities increase
of business
Copies agreement and plan OF reorganization arc
now ready for distrbuon all security holders are
invited obtain them from They forth detail
features which 1t Is mpractcabe to condense into
this circular. but which of much Importance to
security holders, all deposlors bound thereby,
without regard II this circular
bonds stock affected by the plan
now deposit their securities with either Of
Offices receiving therefore negotiable receipts exchange
able AT any time FOR reorganization certificates.
deposited with VIII entitled
participate the benefits OF the reorganization
Holders Of receipts OF the Central Trust Company NJ
York for General Mortgage Bonds deposited under
the existing bondholders agreement May T. 1894 are
entitled IN" benefits Of this plan unless
be limited therefor such existing receipts pre-
duced offices and stamped by az assent
ing TO this plan.
Holders receipts heretofore issued by the Central
Trust Company Of New York First Second and Third
Preference Income Bonds Deferred Income Bonds ana