The Montgomery advertiser., 1901-06-15
PLAN OF THE MERGER
GENERALIZATION OF BIRMINo' HAM COMPANIES.
lCauital Stock of the Corporation Wall Be $5,ooo, ,ooo-Petition
 Protesting Against Executive Interference in Miller Case.

RirmfnRham. June 14.-(Speciall- The apreement of consolidation Of the
 Birmingham Railway, Light and PoW-
 CT Company, the Consolidated Eiectric
 Light Company and the Birmingham
 Gas Company has been filed in the Pro-
 bate office here. The plan Of consoh-
 dation is set forth in detail. 1t says
 that the capital stock Of the corpo
 ration shall consist of $5,000,ooV, oi-
 yided into 50.000 shares Of $l00 each'
 The capital stock may be increased py
 any amount and in any manner au-
 thorized by law and by the vote of the
 majority interest. Of this Sl,60o.VOo IS
 to be preferred stock. entitled to net
 profits or a semi-annual dividend at
 the rate of 6 per cent per annum. The
 consolidated corporation is also author
 ized to issue fifty year per cent nrs.
 mortrare gold bonds to the amount of
 se 0C,(. 00O. of which $1.250.00 shall be set
 aside for redeeming like amount or first mortgage bonds of the Birmtng-
 ham Railway and Electric Company
 and s2. 900. 900 shall be in the consoiidat-
 cd corporation treasury for sale. leay- ing only g, 750, 900 of the new bonds TOT immediate issue on the bagis ot the combined properties of the three con- stituent corporations, franchises. etc, of the three corporations. The plan in conclusion says: Tn consideration of the several capital stocks properties and businesses consolidated as nerelh contemplated, the Consolidated Bir- mingham Railway, Light and Fower Company shall issue securities to. wit: the full amount of It's capitai stock, consisting of $1,bO0.ooU ot pre- ferred stock and $3,500,000 of common Q VT Inc 1f h0n0S which is part of the authorized issue Of | ss. GOO GOO, the distribution thereof to be as follows: TO the Birmingham Gas | Company, S500,00O of preferred stock, | Sl1s. 900 par value of common stock and 1 S475. 900 par value of bonds; to the Con- solidated Electric Light Company s1 ,000, 900 par value of preferred stock. | 3200, 900 par value of common stock ana | S455. 900 par value of bonds: to the | present Birmingham Railway, Light | and Power Company $3.000.000 par val ue of common stock, each holder or the present common stock to receive $zVe | of new stock for every Si0O or oio | stock, and also to said Birmingham Railway, Light and Power Company | S1, ,S20, GOO par value of bonds ana Siez'-
 900 par value of common stock tois last named amount of common stocA and boncs taken together to be used In procuring and satisfying the pres
 en- outstanding $1,S2O.00O of first con- SC. dated mortgage bond sabove men | tioned. The Consolidated Company ha! called a meeting of security holders o'
 the three consolidated concerns to b'
 held July IS to confirm the issue o tI S6y y000. 900 bonds and to take actioi I to have the combined properties issu'
 A mortgage to a trustee and to ratif!
 the appointment of the old Colonl 4 Trust Company of Boston as transfe
 agent. This meeting will mark tn
 final consolidation of all the gas, cleo Iltric power and street car systems O
 Birmingham and the suburbs.