The sun. [volume] (New York [N.Y.]) 1833-1916, 1896-04-01
NEW YORK. PHILADELPHIA. and BERLIN

NEW YORK, PHILADELPHIA and BER1ry
March 10, 1890.
Pursuant to the announcement OF the Committees.
OF which Mr.. Edward ID. Adams and MIR. Brayton rves
respectively. are Chairmen, aplan has been prepared
FOR an INDEPENDENT REORGANIZATION OF tho
Northern Pacific Railroad Sytcm on a basis of fair
treatment to all classes OF sCurlty holdera and NJ
fixed charges on the rcorganizA property reduced IN
an amount believed to be well Within its demonstrated
earning capacity. This plan halheen prepared nv rho
Reorganization Committee with our Joint npnroval
and cooperation: and. in CONFORMITY with an arrange.
ment with the Committees. we hive undertaken In
act In carrying It into effect
In addition to the two Committees abova pamed
the plan also has received the appbval OF the repro
s%entatives of a majority OF each IssA OF the mortvnpe
bonds upon which the reorganixatia ia based
The conversion OF tho General Firl Nortpay n bord,
upon the terms set forth in the plan \ recommended
by Mcssrs. ]. p. Morgan & Co., AugrstIelmont a %
and Winsiow, Lanier 4 Co.. who otsinally issued
those bonds. as well as by the German Committee OF
General First Mortgage Bondholders
All holders OF the above.described bohs notes, and
stocks are notified to deposit the same aAreouired by
said plan.
Securities not so deposited will no. b.ea,,led, to
participate In the benefits of the reorganization.
Holders of receipts OF the Mercantile TAst Com
pany OF New York for bonds deposited undu tho az.
listing Bondholders' Agreement OF Feb. 10, Sya. mr.,
invited, with the least possible delay, to slgnfy their
hpprovalo OF this plan by producing their exIstny re
ceipts at one OF our offices, in order that W. NAV
stamp such approval thereon. Under the te,ms of
the plan, the Mana ;ers have the right, which at anx
time hereafter, in their discretion, they may exercise
to exclude from the plan any holders OF such reoelpt,
VINO snail not conform TO the request to present their
receipts for stamping, as expressly asserting to ths
plan.
Copies OF the agreement and plan OF reorganization
are now ready for distribution. and all security hold.
es are invited to obtain them from us, as all demos
itors are bound thereby. They set forth In detail
many features which are OF much Importance TO So
curity holderA
We believe that the prompt contamination OF tho
plan Will result to the best interests OF all security
holders, and will place this vast property on a sound
and conservative basis.
Any further Information connected with the rea.
sanization. which may he desired by security holder,
VIII DO furnished on application at any of our onioeA
Holders OF the bonds Issued by tho following Cam.
panics are requested to communicate with Messn ].
=. Morgan 4 Co. New York. or with the Deuuche
Bank. Berlin. giving the amount of their holdings
and stating whether held in bonds or certificate, o.
deposit:
Central Washington Railroad Company.
C1ur d'Alene R'way and Navigation COMPANY
Duluth and Manitoba Railroad Company
minnesota Divblonl
Dulutn ana MANITOBA Railroad Company
Dakota Divtsionl
Helena and Red Mountain Railroad Company.
James River Valley Railroad Company.
Northern Pacific and Montana X r. Company.
Northern Pacific anu Manitoba R'way Company
terminal bonds.
Seattle, Lake Shore and Eastern R. r. Company
Spokane and Paiouse Railway Company.
In order to deal equitably with the holders OF these
Branch Bonds 1t is deemed necessary to consider each
case separately. and upon Its own individu al inertia
After hearing from a large proportion OF each class
OF these bondholders, steps will bs taken 10 arrive at
some fair basis of adjustment, for which Lien
3 Per Cent. Bonds and new Preferred Stock Trust Ger
tncates have been reserved under this plan