New-York tribune., 1899-01-06

.rr,.-.., On This bss,. 10 begin nom July l. 1899
rba ssvanc. asrregating s.c heretofore made In ca
20 the holders Of the Sc bonds VIII o- assumed oV "
Reorganizs ton when completed as VIII also ,he eo-
vance OF $4,000 made January 81 1897. by the he-
organization Managers enable the Company 70 pay IN
ereg on underlying bonds Cosether with interest," on al
such advances, that the reorganization Be carried
ou, recipients ~ this advance VIII ~ reieV-" n'A
all obligations 20 repay the same
II Each 100 shares Of present Preferred STOCK pay
s7so and receive on reorganization 20 shares of rev Pre-
ferred ard 20 # ne~ Common stock
II Each 100 shares II present Common STOCK pV
s.oo and receive on reorganization 40 shares of new On-
mon stock
The foregoing percentages or disturbed bonds are on
the principal only Unpaid coupons must oe aep~'ea
without any allowance therefor
The presen, fixed charge Il about ~ a'"" TIE h1e'
charge On the property reorganized Is estimated at
about $4,000 which should he somewhat reduced here
after when and the per cent bonds maturing al
various dates from 1900 70 1910 extended az lower
rates Of interest or are replaced ~ me ne" y, UT ~
bonds
The net of the Company a. verified by aeS'un'-
ants with What . deemed he proper allowance fr
depreciation Of equipment ard other property vas
Fiscal year Fiscal Year Fiscal Year Fiscal fear
Ending Endrs Endins IaS EnfinS
June 20 June 30. June 30 June 80
,oossI7a a ses2 7727s sS7os77ei $3.50 81 IS
Tn. earnings OF 1897 were abnornally owing 10
comu4ton which " hoped will NOT again occur Sita
earnings
~ the present time slightly IN of those FOR mo
c,rresnonding period nsca Nevertheless
no rsorean alton can safely be based upon other thsn
moderate fixed charge especially low prices sor sof'
coal and consequently low rates for iis transp'rAu'V
are almost certain prevail in future
The ryed proposed is quite as large as can
b. looked upon reasonably safe times ot competition
In times ~ prosperity the earnings should largely er-
coed the charges. and the new Preferred stock al"
Common stock should benefit accordingly
syndicate formed which undertakes 70 fur
nish the estimated cash requirements of the Plan
Holders of existing certificates FOR bonds heretofore
deposited with be included In this fah
v,hol, the issue Of new receipts certificates.
~ within the period limited therefor such
existing certificates be produced 10 the Re
organization Managers. and stamped a as
sentng ia this plan. and all such hoidr0
are notified 10 present their certificates AT
our Ofiice.
participation by any other holders de-
nend.nt on the deposit securities with within
the period limited therefor. and will embrace only Sc
cures deposited
No securities will be received deposit unless IN
negotiable form and bonds all unpaid coupons
Tho ,ovnents bv stockholders must be made our
Office in two instanents. At least thirty days apart
when and called by advertisement In each ins'@h
at least twice week for two weeks In two Of the daV
newspapers of circulation published In the oV
of York
All payments be recepted for by us on the Ger
uhcates of Deposit
Failure 10 pay any insts,men when and as payahs
will subject the deposited and all rights account
of any prior payments forfeiture hereinafter pro
Nlded.
All security holders invited TO obtain copies Of w
Plan and Agreement II Reorganization. as all depeo"
are hound thereby without regard 10 this circular 1"
plan and Agreement forth IN ieta many rea'"f"
which It is impraccsble condense into this circush
but which OF much importance TO security holders
w. tel,eve that prompt consumma,ion Of tho PA
will result 90 the ~ all holders sns
will plac. the properly a sound basis
ANY Information connected with the Reorgansuoe
which may be desired by holders will he furnishes
on application at our office.