New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-06-02
PLANS OF TIE SEAB0ARD
amended Charter Increases Capital
Stool to So. 900 O00.

trenton X !. June THE Sea aboard Corona,,v
Sled today with the Secrcta ~ Of State an amend
ed charter increasing its capital stock from S4G.-
600 TO S12,0c0Goo. and outlining the rlan of con-
soli6atiny the Seahoald Air Line system. Ac-
campaigning the amended certificate is an an
nual report of the company, giving the following
oascers whose terms expire on June l. 1905:
president, Thomas AchenEach: vice-p president
end secretary, William Is. Denton: treasurer
John c. QuiE1by. The to;aI capital stock is to
he aiyi6ed into $1S,o00,e30 Of = per cent first
nreferred stock $lS.4ga0G9 Of e per cent second
nrsferrcG nor-accUmulative stock. and $4,000,
90 OF common stock TIE frs, preferred stock
is 20 be convertible at the option OF the holder
,ato second preferred stock at pcr.
IRE charter provides that the company may
.rcAsnge any cash. bonds or securities owned
~ IT, ether than stock of the Seaboard Air
Line Railway Or stock of any consolidated or
.,ersel company for which such stock may
hs7s been exchanged, for . per cent first pre-
faTrcd stock, cumulative after July l, 1910. OF
Ire seaboafd Air Line Railway or of any COM
many into wl,ich it may te merged or con-
eollGated provided the authorized issue Of such
referred stock OF Seabcard Air Line Railway or
IS successor shall not exceed S1S.0J0,0G1. The
second preferred stock is to be subject TO re-
se-aption al the option OF the company al any
time after three years from date of issue. at
10 per cent of its par value. but not until all
the first preferred stock shall have been re-
.eered. converted CT exchanged.
The board OF directors are empowered. in their
discretion 10 purchase or acquire stock of the
seatoard Air Line Railway. and voting trust
certificates therefor. and may issue in payment
shares Of the Seaboard Company, IN ACCORDANCE
with the modified plan OF the Seaboarc AR
line Railway adopted on May &c last. The dl-
rectors may vote. or cause = he voted me
shares of stock at any time held by the sea
soa-d Company fer a consolidation of the sea-
board Air Line Railway WIKI the Atlanta ana
Pirr,i-.gla-n Air Line Railway and the S2eaooAIu
and Roanoke Railroad Company. or elther anu
NAV surrender the shares of the Seabcaru All
Line Railway any time he'd by IL Tor Slares
+ the consolidated company They may accepl
the Man Of consolidation OF January II, Win
s,,cb notifications as they may approve, or may
scent On entirely different plan. and assent 10
tbe modification Of any such plan or 10 us
abandonment. Il Is also provided that me
rhoras Of sea- board Air Line Railway stock f-e!d
- re co,nTsany shall not be voted by the dl-
.ectors for the merger o. consolidation OF any
,or7n9nv other than tho Atlanta and BlrlhlhS,
sam Air Line Railway or the Se4poaIo dIlu
2-,anol,e Railway Company, or Tor the l!lett
- any company other than these two IN lile
Saeroa-5 Air Line Railway. except Win me
o-ear+ of the holders Of IS per cent in amount
If the capital stock Of the company
The Seaboard Company is tie holding COM
,ar. which has figured in the modified plan re-
,a-,-iv nut out by the Seaboard Air Line reor-.
vanization committee.