New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-02-02
financial
TO THE HOLDERS OF THE
Second Mortgage S Per Cent. Bonds
OF THE
STATEN ISLAND RAPID TRANSIT
RAILROAD COMPANY:

IN conseou.nc. ~ the insolvency of Baltimore and
Ohio Railroad Company. n. undersigned have oeen ~
negotiation with the Baltimore and ohio he'rsan1a''
Managers with view to the protecto' Of the above
bonds ,
As result tho following proposition has been oo'alned
which We deem advantageous FOR your Interests Sno
recommend your prompt acceptance:
The baltimore and Ohio Reorganization Managers oHer
% nro~ure an agreement from the baltimore hno o''
Railroad Companv las Recrganzed) 20 purchase your
bonds AT par and cash. In I'VE years ana " Wv
mean time guarantee interest thereon al 'oui ~. '
~ ,,ur which is to be accepted by the holders In full
q, such interest consideration thereof the ha'''r'
,d ohto pauroad Company Heo-ganzedl - 70 nave
the right IN purchase your bonds at any time VIM" SUE
Eve wears at par and interest in cssn upon th'S 'fS
notice The Baltimore and Ohio Railroad Nom'8'" E
p.organized) IS TO agree further that In csse curing ~
a. ..-s a rlen for the reorganization Of the staten
Island Rapid Transit Railroad Company Sha' pe 's'"
nv q, or with it, approval It will secure Tor you INV
- o., ,vo weeks after such plan publicly issued 70
,ate the new securities thereby provided IN lieu Oh inc
cash price Of par and interest for your oonas al
stated. -,
7, case however the mortgage securing your bonds
hol, h. orecosed now cent bonds TO the same
amount shall he creaed be secured Ivy moisaFe nav
w Tho same lien upon the property. and the agree
-cn % The Hal.iniore and ohio Railroad company '~S
reorranizea) STILL apply equally TO such new bonds
The agreement will not become effective unless all the
hcrAe ~ such lesser the Baltimore ana O""
REORGANIZATION Managers shall assent theTc"
and have their bonds stamped accordingly pom ''e
agreement thus becoming operative the overdue 'oupo
will he paid in cash ms stated below" oo
Under your Bondhodcrs' Agreement ~ July o. io''
. ~,,dod that II Al any time after default In Interest
there should arise opportunity. considered favorable
hv ue for arrangement and settlement OF the o's' '
.t Ao.,,e, hoods or coupons then with the assent 10
be manifested ~ express approval or ~ lAliuie VIM"
, veks o. expess dissent ~ the holders of our Ger
tnca,es q deposit representing seventy hve per ce' "
amount u tho deposited bonds. we may make such ar
rarFement AM settlement -,
The foregoing proposition presents an opportunity 'o'
settlement ana Arrangement OK your claims ""'.'
deem favorable We request. Therefore your assent
thereto IN writing Unless within four weeks rom '
date O, mailing this YOU. you notify US o. E'u
dissent We shall presume conclusvely that you nave as
sened to the proposed Arrangement and TO the t"ps
- r bonds as asserting above set form ahd
20 the taking q such steps on our part as We "''
sar, 10 carr the into effect either ny ae'a'H Wv
principal Of your due or by causing pT''''"ss
BE- Instituted the foreclosure 81 the no's'he 0' ~
wise as We may be advised. 49,
Your bonds the bonds issued IN lieu thereoi WI"
accordingly stamped By MS II the holders Ok 'u
certificates Of deposit representing seventy per cent
IN amount q tho deposited bonds shall assent either IN
writing or nv failure TO notify Of their dissent ana
tie same shall become operative by the assent OF l"e
requisite amount outstanding bonds as above sta'ea
So soon as agreement shall be declared e'e.'''e
the deposited bonds VIII he stamped al the once OF the
Central Trust COMPANY q New and returned 10 the
depotors upon surrender q our certificates OF ueios
therefor the mortgage securing your pohls sS
tc forecosod n which case the new bonds stamped a.
above provided will be deli' cred IN lieu Of the EXISTING
hands At the time OF delivery Of the existing bonas
mr. new bonds the overdue the bonds repre-
scented h our certificates deposit. will be paid IN cash
al ms face value with interest
In case the agreement shall become operative the
deposited bonds Will not he stamped hut we Will continue
to- holl the under the bondnolders agreement OF
July . 1895
All but $1,000 NJ the bonds Of the total issue Of 900
600 have been deposited.
Dated Nev-Yora. January e7th. 1892
HALLGARTEN & CO.,
2s BROAD ST, y Y,
s.a.or Isari Rarid Trnnslt "a MortEage