The sun. [volume] (New York [N.Y.]) 1833-1916, 1896-03-19
NEW YORK. PHILADELPHIA, and BERLIN
March 10. 1919.

NEW DIRK PHILADELPHIA, and BERLIN
March 10. 1870.
| Pursuant TO the announcement OF the Committees
OF which Mr.. Edward D. Adams and MIR. Brayton Ives,
respectively. are Chairmen. q plan hns been prepared
for an INDEPENDENT REORGANIZATIOS OF the
Northern Pacific Railroad System on "A basis OF fair
treatment TO all classes OF security holders. and OF
fixed charges on the reurganized property reduced to
an amount believed to be well within its demonstrated
earning capacity. This plan has been prepared by the
Reorganization Committee with our joint approval
and cooperation: and. in conformity with an arrange.
ment with the Committees, we have undertaken to
act in carrying It into effect.
In addition to the two Committees above named,
the plan also has received the approval OF tho repre-
sentatlves of a majority OF each issue of the mortgage
bonds upon which the reorganization is based.
The conversion OF the General First Mortgage bonds
upon the terms set forth in the plan is recommended
by Messrs. J. =. Morgan & CO., August Belmont 4 Co,
and Winslow. Lanier & Co.. who originally issued
those bonds, as well as by the German Committee Of
General First Mortgage Bondholders.
All holders OF tho above-descrlbed bonds, notes, and
stocks are notified to deposit the same as required BY
said plan.
Securities not so deposited will not he entitled to
participate in the benefits Of the reorganization.
Holders OF receipts of the Mercantile Trust Com.
pany OF New York for bonds deposited under the En-
listing Bondhoiders' Agreement of Feb. 10. 1894. arc
invited, with the least possible delay, 10 signify thsiz
approval OF this plan by producing their existing 70.
ceipts at one OF our of1ces, in order that we NAV
stamp such approval thereon. Under the terms Of
tho plan. the Managers have the right. which at any
time hereafter. in their discretion. they may exercise,
to exclude from the plan any holders OF such receipts
who shall not conform to the request to present thsiR
receipts for stamping. - expressly asserting 70 ths
plan
Copies Of the agreement and plan Of reorganization
are now ready for distribution. and all security hold.
ers are invited to obtain them from US. as all depoS.
itors are bound thereby. They set forth in detail
many features which are OF much Importance to -
ourity holders
We believe that the prompt OF the
plan will result to the best interests or all security
holders. and will place this vast property on 9 sound
and conser vative basis.
Any further Information connected with the reoH
ganization. which may be desired by security holderS
will be furnished on application at any OF our onneeA
Holders of the bonds issued by tho following Com
panies are requested to communicate with Messra J.
p. Morgan & Co. New York. or with the Deutsohs
Bank. Berlin. giving the amount Of their holdings
and stating whether held in bonds or certificates o3
deposit:
Central Washington Railroad Company.
Caur d'Alens R'way and Navigation Company
Duluth and Manitoba Railroad Company
(Minnesota DivisiolA
Duluth and Manitoba Railroad Company
Dakota Divisional
Helena and Red Mountain Railroad Company.
James River Valley Railroad Company.
Northern Pacific and Montana R. r. Company.
Northern Pacific and 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 II is deemed necessary to consider each
case separately. and upon Its own individual inertia
After hearing from q large proportion OF each clasa
of these bOndholders. steps will bs taken TO arrive AZ
some fair basis OF adjustment. for which General Lien
8 Per Cent Bonds and new Preferred Stock Trust Ger