New-York tribune., 1903-06-10
NATIONAL RAILROAD OF MEXICO.

rs l. the final time for the deposit Of the
common stock voting trust certificates OF the Nd
tionaI Railroad Company of Mexico. under Ine
pIan recently announced by Speyer & Co.. OF new
York and Speyer Brothers. of London III VIII oS
recalled that these bankers announced tnd' @ 'iIe'
had entered into agreement with tne uo'
rnent of Mexico by which the latter WILL on Ger
tain terms and conditions purchase large amount
of tho several classes of the capital stock or the
company Another important provision oe tne
agreement in case of It's consummatlon' VIII oe |
transfer to the bankers for sale 70 the ram O
company at cost of the governments holdlns oi
r. nn o Az nar cent second dabenture stock Of the
Interoceanic Railway Company Of Mexico WIN
the stock of this company already o"heu' 'HS
transfer of this block will give pracucal cohiol u
the Interoceanic road and give the National Iodu
a valuable line from the City of Mexico 10 vera
Cruz and a much needed outlet to the Gun OF
Mexico The agreement also provides 1or an I'M
portant concession for the National halrodo L.
the government of Mexico. 10 cover perlou VI
twenty years, from October 81 next, durlns "nio
time the National will have exclusive risnl -
build and operate railroads within large terif
tory in the northeastern section of Mexico
The agreement with the government furtner pro
vides for the conversion of s33 $4,000 common stocA
of the National Railroad Company of Mexico INTO
two classes Of stock of which s22 253.S3 is 10 Dc
known as second preferred stock and $lI,Ao'ooo aS
deferred stock. The second preferred STOCK VIII DC
entitled to receive dividends when earned not ca
ceedine per cent per annum before any dlVloehu
s Maid on the deferred stock. The preferred divi-
dends are not cumulative After the payment III
any year of dividends amounting to per cent Oh
the preferred and per cent on the second pre-
ferred holders of the latter and OF the de1erreo
stock will rank equally in the matter or dlVIoenoS
The second preferred and deferred stock VIII De
issued only in exchange for and conversion INTO
existing common stock OF the company at the ra'e
of two shares of second preferred and one snare Oh
deferred for every three shares OF common Stoch-
The Mexican Government has agreed TO purchase
the total issue of deferred stock during a limited
period at $40 a share in cash. Deposits or the
common stock voting trust certificates snould De
made with Speyer & Co., Of this city; Speyer
Brothers Of London. Teixeira De Mattos
Brothers, of Amsterdam, or before the close OF
business tomorrow. For stock deposited the bank
ers will issue receipts which will entitle the hoders
thereof, October 81 next, to receive certncates
for second preferred stock to an amount equal 10
two-thirds of the common stock deposited, and 10
a cash payment the rate OF So 80 snare or
common stock or. at the option of the oanKers' 10
the return free of charge of the voting trust GER
tffcates for the number OF shares or common
stock deposited. The bankers announce that hold
ers Of large amounts of the common stock voting
trust certificates have already deoosited their
holdings.