New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-01-27
flnaneia,
flnarcidi
TO THE HOLDERS OF THE
Second Mortgage S Per Cent. Bonds
OF THE
STATEN ISLAND RAPID TRANSIT
RAILROAD COMPANY;

IN oon,.ouspcs OF III. insolvency the Baltimore and
Ohio Railroad Company. the undersigned nave o'n
negotiation With the Baltimore and ohio Reo'sahiiA"
Managers. with view to the protection Of the aSovsi
bonds
As result. following proposition las been oo'Ans.4
which we deem advantageous for your interests ana
recommend FOR your prompt acceptance;
Tn. Baltimore and Ohio Reorganization Manage" c"l
- rr,curs m agreement from Baltimore and Ohto'
Railroad Company las ReorsaniseD TO purchase you
bonds par cash in five years sne In ''s
mean tine N guarantee interest thereon At your pr
mar s,nvn which IL 20 accepted by the holders In fu'i
=, -ch interest, In consideration thereof the RAtnors
,s Ohio Railroad Company Reorgsnized) 20 have
~. right 70 purchase bonds a, any time within suen
Eve years AZ par and interest in cash upon 'hr'y aA
ro,ie. The Baltimore and Ohio Railroad Company -
p.o,,-zA, q n agree further that in case during said
nv. y.a-. a plan for the reorganization ~ the e'',
rs,rt Rauit Tran. Railroad Company shall De issoed
bv II or with i,- approval will secure Tor you ns
on,,on .cr .uo after such plan Is publicly "'"ea 20
take N. new securities thereby provided IN leu Oh n
CASH pr.. o. par and FOR YOUR bonds as so'vs
stated - $3.50.
IN cas-. however. .he mortgage securing your oonds
.hs be ,orecoa.c four per cent bones to the sans
sour, shall he created he secured BY mortgage nav
IN. same lien upon ,he property ard the agree
-. ., ~. baltimore ana Ohio Railroad Company tss
pso-r.nired shall apply equally 20 such new bonds
III. agreement will not become effective unless al mo
bonds or such lesser amour, the Baltimore ana OHIO
zao7 Managers shall approve. assent thereto
nd
arr...nt thus becoming operative the overoue coupons
will be paid in cash as stated below,
Under your Bondhoders Agreement ~ July D. is"@ "
prov-a~d that H. AZ any time after deau' IN interest
thsre should opportunity eon'ferei ta'oraos
nv r for arrangement and settlement Of the claims upon
~ a.ros,ss bonds or coupons with the assent co
n. manifested by express approval or by failure "thh
four dsssnu Of the holders OF our Ger
acatas Of deposit representing seventy I'VE per cent IN
amount Of the deposited bonds We may HaNe cue" II
renrsrnent and settlement.
The foregoing proposition presents an opportunity Tor
settlement and arrangement, OF your claims which We
deem favorable. We request. Therefore your assen,
thereto in writing Unless within four weeks from tho
date Of mailing this notice to YOU notify US OF your
sesen, ". shall presume conclusvsy that have as
sented 70 the proposed and % the stamping
o. your asserting thereto above set forth ana
20 taking NJ such steps on our na as We dee heo<s
sary 10 carry effect either by declaring tho
principal bonds due by causing proceedings To-
be instituted for the foreclosure OF the mortgage or other
wise, may be advised.
Your bonds or the bonds Issued IN lieu thereof win
accordingly stamped by us II the holders OF our
certificates deposit representing seveniynve per cent
Z, amount Of the deposited bonds shall either IN
writing or by failure notify Of their dissent ana
the same shall become operative by the assent CT tho
requisite Of outstanding bonds as above stated
So soon agreement shall be declared effective.
the depos,ted bonds stamped the once OF the
Central Company OF New York ard returned 10 tho
deposors upon Of certificates Of deposit
therefor unless the mortgage securing your bonds shall
be foreclosed in which the bonds stamped a.
provided Will be delivered IN lieu OF the existing
bonds AZ the time o, such delivery OF the existing bonds
bonds the overdue interest the bonds repre-
certificates Of deposit will be paid In CASH
al It's face value with interest
In agreement shall become operative tho
deposited bonds Will be stamped but will continue
10 hold the under the bondhoders agreement OF
July 1895.
All but IS 900 OF the bonds OF the total issue Of s. oo
900 have been deposited.
Dated Nev-York January 2Iih. 1870.