The sun., 1906-01-27
TERMS OF BELMONT MERGER.
I,Sry or SEJ5 5OOO,O STOCK AND
S1O,OOO, ,OOO BONDS.
ror Each share Of Interior OuEh, $500 In
Bonds and 500 In i'OmmOn: for MetrO-
roll'an. 500 and ShS. and for securl-
ties. $3.50 In Common Hclmont
10 lie President Of the New Company.


,Icy. S83.sO In Common iclmont
10 lie President Of the New Company.
Tho details of the agreement Tor the
-arcI1r Of the lntcrborQugh and Metro
,oi,,nn interests wc!r made public last
ni,ht Tho agreement was drawn up Ivy
a .or,mttro consisting Of John d. Grim
min. ANDREW Freedman, Thomas p Fow-
isr Gardiner VI. Lane. Cornelius Vanderbilt
ard rlward j. Berwiud. a. representa-
fye, of the Interborough Rapid Tran
At company, the Metropolitan Street
p.dvay COMPANY. the Metropolitan Sc
cur,l,a. Company and August Belmont &
Go
In an official statement issued last night
the" torn" of the agreement we're de-
sctusd
p, .. occurred that tw0-thirdS OF the entire
c.,...ud.us stock of the int"ruorough Rapd
Transit Company. two-thirds of the entr"
outstanding stock Of the Met iroroitnn street
t..Iq.,v ,nirpauy and one nall of the entire
outstanding stock uC tn" Metropolitan S"curr-
t,. ,onuauv shall hs deposited with August
R,i,ru.r 4 %. or the Morton rr~ Company.
4, .oona. I,o.rhWd- Of the stock is deposited
fine ,-f.,u,ur viii authorHe tn" INTERIOR
nn.n- Metropolitan Company 10 issue tn"
following securities
r.f,y-nyo million dollars per cent cunlu-
ls,lvo prrtcrrcd stock 500, ,o00, ,oNn oi common
s'o,k and s7o.uoo,Oco "a per cent. collateral
tri-i gold bonds
NI ih' common STOCK N'n' ~" US '9S"'.
t" d'lo-li'n uhh"r N",i'N '"'' "H'''"'"'
for term "' ''HrN, N"ol''' '" 'l'''''''''"
IN .H" discretion "i iNn N"' lhs trustees. "hd"f
WINCH Msf>r,. NuslH' he'w"n'' N""'I ''
pasnan. yn"ma, T. RYAN, Cornelius Van
Gei,tlt and Peter \. B. Nden'r are I" n' the
voting trustees.
1N' preferred stock II 10 h" entitled to
preferential dividends from AprlI !, 1905
at the rate Of per cent. per ann'im ana IS
10 be preferred also as TO capital. IN" '"rtlh-
cato cr Incorporation Of the company provides
tqat th" preferred stock shan nave n" voting
poWet except as in SAID certincai' ploNlued
and IN of default III the payment oi diNi-
dend~ thereon. and 30 long a. shch do'ahIt
shall continue. but that tn" preferred stock
cannot 10 Increased without IN" consent OF
the holders Of two-thlrds in amount OF the
preferred stock at the time ontStaholnS' ana
that no stock haNinS PRIOR rishl' can NE
created
The collateral trust bonds are to be secured
under tr'ist agreement with IN" WINDSOR
Trust Company as trustee, ny 'he pl'uEc
and deposit of all shaTcs ol 'he cap''al s,"cN
Of IN" ih'crnororRh hap,s '"''n .srarori G,n
,-l i,n
srJ arc 70 he issued onlv against such de.
rosit and pledge at the rate of 81 900 in bonds
for each Ave shares OF stock deposited and
iiedsed. They are 10 mature April /. 1855
They are I" be coupon ponuS lor sl,"o
each' WIN 'nt '.is1'er ..sd hands tho
W'no'pal, ~ a' ond r,aistared honds NAV he
,ra5a interobans seablp under regulations to
he prescribed by the trust agreement.
nf ot nf ha "a n
companies may, subject to the cona't!ons
hereol ana oi salu asiesa'en', ,.
etoeA 10, se.,.u..es w VIZ .ho to,,o,rin,
49,
For each share Of stock Of Intcrborough
Rspid Transit COMPANY ,tvoting trust certI-
foatesr Collateral trust bonds $500, COM
mon stock trust certihcates'' sss
for each snare OF STOCK "l @ @Ne.l1po"'u'
.uee. NaI'"a. Iot", l,,., ortieaa,os, a..
'' e., .Vm.Ln ah shara ~ Stool, or Tetroooli,an
Ca, m-ric, Comnonv with s75 per share
baidr Common stock itrust certihcatesl
la3 so
Scrip will be ssned for fractional amounts
OF bonds and preferred stock ana common
Nock 'ru7V ceFt'i'ca,eS', out suoh s'''p VIII
W. ''''' " Wv
august oeI"iofi' ,o' nave asi'' 10
euoscriOe LOT s'ooo'"o oi 'he pieie'i'i
eVooh vi ..'e eo'iiP'''i! anu " pay W. ~
III CASH. .huer .i'e iui'i'e' 'ci''.' VI ''o
asreehI eh' '"h'c'' 'on.ei'iP'i.es .,'e '''ue
v. ,"e N'7 ip'''Is, 'e, nl,l ,
VI I.S entire cai' 'ai soooh, Hue,'' Ne'."on'
20: VIII receive 'H'oo'Voo common e'ooN'
ldE Hilo 'he treasury oi 'he company
s.'-"VV' 1" cash anu pay al ''e eNp''''e'
VI orsat'~a''oh'