The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1908-08-03

In sinking fund and first
mortgage principal accounD
to amount of........,...... $4,000
Virginia Electrical Railway
and Development Company.
with bonds outstanding Gin
Guiding $4,000 OF underlying
II. and a. bonds, but cxclu-
sive OF $4,000 Of bonds In
sinking fund.- to amount of. t.47O,000
Westhampton Park Railway
Company. with bonds OUT
standing Exclusive of $4,000
of bonds in sinking fund.- to
amount of ............. 10000
Richmond Railway and Elec-
trio Company. with bonds
outstanding to amount off,. $4,000
Total underlying bonds. ....s2,15s.O0
Retirement of Underlying nonds.
or the authorized issue Of stocks and
bonds, there will be received for the
retirement Of the above lists Of Under
lying bonds and issued and used ii,
exchange for the securities of the old
companies for the acquisition of the
properties and to provide for tho pres
ent needs OF the new company, bonds
OF a par value OF $4,000, 900; preferred
stock of par value OF $4.500.00O: and
common stock of a par value OF $780,
600.
IN the event that any one or more
of the several properties should not be
acquired by the committee, In It's dis
erection, then 1t is contemplated that
the amount OF the present issue OF
securities will be correspondlngly re-
,duced and the committee will be au-
thorized to surrender any OF the So
curities In such companies not acquired
, which have been deposited, and the
holders OF such deposit receipts shall
have no further interest In the new
company.
In order to carry out the plan sue
cessfully all questions as to the ac-
QUESTION of the several properties and
the prices to be paid therefor are left
to the discretion OF the committee,
subject only to the provisions OF the
plan and of the deposit agreement. and
the committee will be authorized to re-
duce the present issue of securities or
increase the authorized present issue
should 1t be deemed eXpedient. or to
the best interests OF the parties In
volved. The present issue of securities
In the new company will be reserved
to retire underlying bonds or used In
exchange for or in acquisition OF out
standing bonds and stocks of the sew
eral companies forming part of the
system.
The present issue of securities will
consist of: bonds, soe0o.00O: preferred
stock, s4.500,0OO. and common stock.
s7.5oO0O0. OF the bond issue s2.l5S,ooO
will be reserved for retiring the under
living bonds listed above, leaving avail
able bond issue OF s7,i42,ooo
In Exchange for Securities.
In return for old securities of the
several classes, it is proposed TO offer
in exchange the following:
Richmond and Manchester Railway
Company 5s. present issue, Sioo,ooo;
new securities, bonds 100000; pre-
ferred stock 100000.
Richmond Passenger and Power
Company SIS. present issue. S2,sa,Ooo:.
new securities. bonds s2,SII,ooo; pre-
ferred stock s575.400.
Southstde Railway and Development
Company 5s, present issue, sl.000,oo0;
new securities, bonds 100000; pre-
ferred stock s3oo.oOo; common stock
100000.
Richmond and Petersburg Electric
Railway Company 5s. present issue,
100000; new securities, bonds s375,00O;
preferred stock s150,000; common
stock sl5oOoo.
Virginia Passenger and Power Com
pany 5s, present issue. S7.S2ls000; new
securities, bonds s5,737.350: preferred
stock s2,737,350; common stock s3,-
l2S.400.
Richmond and Petersburg Electric
Railway Company stock. present is
sue 100000: new securities, common
stock 100000.
Highland Park Company stock, pres
| ent issue. $l99,790; new securities. pre-
+, ferred stock sis,947; common stock
$49,947.
Northside yiaduct Company stock.
present issue, s52.45O:N new securities,
preferred stock s26,225 common stock
S26,225.
| Interest coupons maturing prior to
July /, 1904. on Richmond Passenger
and Power Consolidated IS. Southsida
hallway and Development Company
and Richmond and Petersburg Electric
hallWay Company, to April J., 1908, to-
TAI 10 be provided for s455.05O: to be
met by new securities, bonds sa5O.277.
preferred stock s273,O3O.
Providing for Contingencies.
! The above schedule gives a total OF
present issue. principal and interest To
DC provided for of S13,905,99O. which
| is to be met by new securities as fo,.
lows: bonds, $7,439,627; preferred stock
| SA.2Ol9o2. and common stock. S4254
o12 par value. This will leave a ba /.
ance IN the hands of the committee of.
bonds s2,S75; preferred stock. s2oS.O4S.
ana common stock, S3245,4oS. This
balance of stocks and bonds NAV he
used In the discretion Of the commit.
tee in providing for contingencies; in
the acquisition OF securities not de-
posted or for which no provision is
made in the plan; or for such other
purposes as in the Judgment Of the
committee may be to the best inter-
csts of all parties concerned. The
committee will be authorized in its
discretion, to sell all or any part OF
the common stock of the company NOT
needed for the purposes of the plan. un
1 TO an aggregate not exceeding s3.245.-
'42s par value at a price OF not less thar
$40 per share In cash, and to use the
proceeds of sale for the purpose OF
carrying out the plan so far as may
be necessary. and to pay over any
balance OF such proceeds to the new
company. ~
Any stock In the new company not
issued or used in tho execution OF the
plan, or disposed of by the committee
as provided in the deposit agreement,
is to be reserved in the treasury Of the
new company and to be issued there