New-York tribune., 1909-07-17
OUTLINES NEW PLAN
pocKEFELLER IN DEAL.
u-,stern Maryland Reorganization
Cheapest on Record.

-.,, ,-,z{rrr7ar Of the reorEan IMITATION
AFI" - .be Western Maryland Railroad Com
Come r,Illic yesterday an outline OF the re-
pan -.fo- rlan the formal announcement OF
81 he made about the middle OF next week
=fa0" = --,,7rs in regard 20 the plan had been
g H1-s - Erach said. that il was thought ad-
Pues'. cato its material features as at present
visa'e These do not differ in any important
ioF-' ,-,-, the outline Of the plan published in
TesF.,.z,,-a a few days ago The cher feature OF
IT. = se -ae replacing Of slH'"t'"S OF hNed
TIE t-o --s---f--< by an equal amount Of stock.
en's -,,a interest charges will be- cut S'So"9 a
y,sr -,-- nc outlined by Mr. Krech. IT IS
Ji'f .-se-- The reorganization Of the road
Po'. .-7f7at5er q Il rew company. which shail
= - she property subject 10 lis hrst mort
~ z rs underlying and divisional ""hoS-
e. -r bs issued Slo."Heoo per cent non-curnu-
Il''5 .se~-es stock. convertible at the option Of
az - INFO common stock At par ana reGeenl-
u --o option of The company al par as wen
are a. zaa common stock cut Of an authorized
.. n s5aas}dso
fssle - FL The Tribune few days ago the
- .-,eo Ter cent bonds. Of which S4Z.7ie'""
rs ..-=f-z and the s. oooAn divisional bonds
a. leased lire bonds and $9'S.e-' leaseu ''''e
,s-s-5--e. uTl not be disturbed
fiooA - sr interest charges Of $4,000 a wear
--s min be effected by converting the SO
=. -.~e-sI lien and convertible IS outstanding
100, .f maturing Obligations INTO STOCK
q = ,a--iera-es Of deposit Of the general heu
,--e--ff-e g viii receive in eXchanse ~" Per
SH- - -,-sfr-red stock. and for unpaid over
: -r--r-s including those Fafaoie 'N'''si !
q - r5rr receive SIS per cent in new com
,ck The cash required for the QaNfheI' "I
l'- .-,s-s-~r obligations. improvements etc
at 49,, .,---rrtea has fixed Al S',2t4.lo9, VII De
W. -. che sale ar so $40 OF common stock 10
s.-s.s If which John D Rockefeller IS a lsai-
: .--.-se- This stock wiu he offered py 'le
-5-s-e as follows
-, r., tre holders of certificates OF oel''N'' i''
-. western Maryland general lien and CON
k'''. .--ss E. .,-r cent of their holdings, that
~ %, ~, .f rrrg stock for 40 per cent OF us
= ,-ar-e o- 8 1''.s4
p ., --. holders Of the Sl56S5. go Western
,--s c,---s57 stock. in exchange for their oiG
- ans IN payment 0f 81 per cent of me par
-, --s-,-r II. cash. tNa Der cert of thelT ho4uii--s
.5s IL 5,= -at rev. common stock for A7--'4.l'o-
T--- said that rre property supporting the
--.e.--ss stock will be nearly S9,5oo.ooo great
.t.- --e- supporting The original issue Of con
gert-s bonds
-.. r.=--a5 cut rrat under the proposed re"T-
- -.--- shore would ee absolutely no water
: II, s.a-,z NJ The Western Maryland Railroad
Crrpa1E- -. -,
--. =--z.-s-. which IS -a underVrite the new
---- stock -.I receive commission, Il Is Sail,
rfo--r about 81. per cent Of Tin" STOCK ''SeI''s'
a. -7---+-- 20 af f0r, $4,000 cash. which Is the
...-,ss- underwriting of d reorganization plan IN
= -4----,- II Wa. street
--.,--- 7-z-----s stock was quite active yNster-
5., +,rr7i-c --e publication Of the official outline
f.se concentration Plan. but there was very little
,s.-rs f- -rr price. -he stock closing at :. the
4-yr rr;-- n The day. AM net gain ol - "l q
,7-- over ,f.e preceding DAYS close. The total
saes 55a shares.