The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-05-16
TO RETIRE
OLD ISSUES
OF STOCK.
Order OF United States Court With
Reference to Reorganization
of Baltimore g. Ohio.
The NON.ASSESSABLE STOCKS
And Bonds to be Given -. The
Character OF the Securities
That Were Authorized.

BALTIMORE. Nd, May 15.-Judges
Goff and Norris, sitting In the United
States circuit court. signed an order
and decree to-day authorizing the Bal
timore g. Ohio Railway Company to Is
sue fully paid and worcestershire stocks
and bonds for the purpose Of retiring
the old issues as provided In the plan
of agreement decided upon by the re-
organization managers.
The securities authorized are: Seven
ty million dollars par value prior lien
mortgage Sh per cent gold bonds.
Fifty million dollars par value first
mortgage 5O-year per cent gold bonds.
Fifteen million dollars par value
Pittsburgh Junction and Middle divls-
ion first mortgage 3lA per cent gold
bonds.
Forty million dollars par value
Southwestern division first mortgage
31s per cent gold bonds.
Sixty million dollars par value per
cent non-cumulative full paid and nom
assessable preferred stock.
Twenty million dollars par value ud-
ditional full paid and non -assessable
common stock.
The order Is Il long printed document,
containing full statement OF the mat
ters embraced in the petition OF which
the hearing was had. as well as the or
der and decree. 1t authorizes the COM
pany to accept the offer of Frederick p
Voorhees,, of New York, to effect q set
tlement Of the claims Of the B. & O.
Southwestern, Central Ohio and Pitts
burg!l Junction railroad against the Z.
& o. In consideration of the issuance
to him OF certain new securities. One of
the effects OF such settlement will be to
reduce the fixed charges on these sys-
tens from sS.1iG.727 to sG,252,351, there
by saving annually s1.S9i.S7G for the
company.
The Plan Explained.
The plan by which the outstanding
Indebtedness may be cancelled Is ex-
planned In the order. Messrs. 4. S.
Durham and Arthur =. Spamer, the
special masters In the case, nre to give
notice to all security holders involved
to appear within thirty days, interest
on the securities ending at that time.
The bonds are to be given to the special
masters. who shall cancel them and de-
posit them In 4 safe deposit vault.
When the full 90 per cent have been
cancelled the company Is to deposit
cash in the Farmers and Merchants
National Bank at Baltimore. equal to
the amount due upon the uncancelled
bonds and overdue coupons, or to file
Il bond for the faithful payment OF the
amount due The trustees OF the mort
gage upon the paymen; OF the lawful
compensation for their services shall
file with the court record Of the satis-
faction Of their mortgages. The dis
tribution of the new securities shall
then begin. The special masters are
also authorized TO cancel such of these
receivers certificates rs the company
desires to retire, upon payment of the
necessary money.
Mcssrs. Barring Bros. e Co. and ]. S.
Morgan g. Co.. trustees OF the sinking
funds under the mortgages of 1872, 1874
and 1877. are directed upon the prescn-
tation Of certificate from court that
tho h,,pIu corurn1 nv thnsn r,nr,poUnc