The indicator., 1904-02-06
TO RAISE
THE MONEY

l. uC bCuVCt IsCpuuiCou, WhlCh -
published right on the ground, has the
following complete report Of the
meeting of the stockholders of the
C. F. & l. Co. which was held at Den
YER on the lst inst, and which is
highly interesting matter for our
readers:
"The special meeting of the Colo
RADIO Fuel & Iron company that has
been postponed several times during
the past few months was held yester-
day forenoon in the Offices of Presi-
dent F. J Hearne. The stockholders
were represented by President Hearne,
Vice President j. M. Welborn, and
Attorney D. c. Beaman. When the
meeting was over Judge Beaman gave
out statement covering the matters
disposed of at the meeting and all in
terviews we're declined 1t seemed
to be the policy of the officials to deny
any information to the public except
that the meeting had bsen held ac-
cording to the first step of the plan
of reorganization, and the plans of
the majority stockholders carried out
AT the meeting 225, 1856 shares of
the company's stock was represented
out Of total of 259,32O. This stock
was held by proxies in the hands of
the local officers Of the company for
the most part, and only a small group
of officials was required to attend the
meeting for the purpose of transact
ing the business.
"The articles of incorporation of
the company were amended by strik-
ing out the provision which forbids
che company incurring any further
debts other than for the ordinary
running expenses of the company.
There was a resolution passed. al
so, ratifying the acts of the officials
and endorsing the means by which
money already has been raised by
securing loans from Messrs. Rookie
Teller and Gould, the majority stock
holders. The distribution of this
money also was endorsed, so far as it
has been disbursed, and the resolution
directs the officers and directors of
the company to expend the remainder
of the funds to be received from these
loans as they see fit.
There was no opposition to the
resolutions offered and each step of
the reorganization plan was taken
with the unanimous consent of the
stockholders.
"The debenture bonds of the COM
pany amount to approximately, $l5,-
100000. They are convertible into
stock at the option of the holder and
out of the issue of $l5,OOO,OOO less
than million were so converted.
THE debenture bonds have been
collected by trust company in New
York. There is clause in the bonds
which pledges the company not to in
crease ihe indebtedness except for
ordinary running expenses, and before
the present debts of the c. F. & |.
can -be refunded it will be necessary
to get all of these bonds in the hands
of the persons interested in tho re-
organization plan. The bonds issued
in the form Of convertible debentures
have been collected to the amount Of
$ll 100000 and over. The limit set
upon the time for them to be deposit
ed with the trust company is Feb. 6.
1T would appear from the action
taken by the officials of the company
yesterday that they expected the re-
organization plan to 60 through. The
abrogation Of the clause iu the srti-
cles Of incorporation is the first step
Of the plan and the second is to get
all the debenture bonds, which have
. similar clause, into the hands of a
trust company authorized to convert
them into the new issue of bonds. The
debts Of the G. F. 4 /. are said to
bs in the neighborhood of $45,OOO,-
OOO and new securities will be issued
for that sum. The holders Of the
present stock and the holders Of the
dsbentures will be allowed to ex-
change for the new issue on a basis
considerably better than the market
v>lno ~ tha honI,, - 1T -,