The sun. [volume] (New York [N.Y.]) 1833-1916, 1896-03-29
NEW YORK, PHILADELPHIA. and BERLIN

NEW YORK PHILADELPHIA, and BERLIN
March is. 1876.
Pursuant to the announcement OF the Committees
of which Mr.. Edward d. Adams and MI. Brayton Ives
respectively. are Chalrnen. a plan has been prepared
for an INDEPENDENT REORGANIZATION OF the
Northern Pacific Railroad System on a basis OF fair
treatment to all classes OF security holders, and OF
fixed charges on the reOrganizci 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 the repro
sentatives 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. 2. Morgan & Co, August Belmont & Co.,
and Winsiow, Lanier s. Co." who originally issued
those bonds. as well as by the German Committee Of
General First Mortgage Bpndholders.
All holders OF the above.described bonds, notes, and
stocks are notified to deposit the same as required by
said plan.
Securities not SO deposited will not be entitled to
participate in the benefits OF the reorganization.
Holders OF receipts Of the Mercantile Trust Com
pany .! New York for bonds deposited under the eK.
listing Bondholders' Agreement OF Feb. 10. 1894. are
invited, with the least possible delay. to signify their
approval OF this plan by producing their existing re-
ceipts at one OF our onices, In order that we may
stamp such approval thereon. Under the terms Of
the 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 their
receipts for stamping, as expressly asserting to tue
plan.
Copies OF the agreement and plan OF reorganization
are now ready for distribution. and all security hold.
.Ec pFn Nifn m - q n ma na III AaDAa
itors are bound thereby. They set forth in detail
many features which are of much Importance to So
curity holders
We believe shat the prompt OF the
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 reor
ganization, which may he desired by security holders
will be furnished on application at any OF our onicea
Holders OF the bonds Issued by the following Com
panies are requested to communicate with Messrs j.
=. Morgan & Co. New York. or with the Deutsche
Bank. Berlin. giving the amount OF their holdings
and stating whether held In bonds or certificates OF
deposit:
Central Washington Railroad Company.
Cnur dAlene R'way and Navigation Company
Duluth and Manitoba Railroad Company
minnesota Divisionl
Duluth and Manitoba Railroad Company
Dakota Divisioul
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 Palouse 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 merits.
After hearing from a large proportion OF each class
OF these bondholdrrs. steps will be taken to arrive at
some fair basis OF adjustment. for which General Lien
3 Per Cent. Bonds and new Preferred Stock Trust Ger.
tIncates have been reserved under this plan.