New-York tribune., 1909-06-10
GREAT WESTERN PLAN
MORGAN REORG4NI/ER.
Details Made Public and Deposits Of
Stock Called For.

J. p Morgan & 20. have ISSUED circular 10 the
security holders Of the Chicago Great Western
Railway Company. announcing that. a the request
cf 4he LondCn and New York committees for de-
henture stocks and OF the New York committee for
preferred stock A and snd common stock they
have consented to act as reorganization managers
Tho circular says that a company viii be
formed 70 acquire the property Of the existing
COMPANY and will be authorized to issue first mort
gage hfty-year per cent gold bonds. 10 bear in
terest from September l. 1902 Bonds 10 the amount
Of s2s ooob0 will be ssuaole for the purposes stated
in the plan. and additional bonds TO such amount
may be determined by the reorganization man
ayers VIII be reserved for future issue.
Four per cent preferred stock is authorized to an
aggregate Of s5oGocoo. o. which s1.o2l.4o2
viii be used fo- the purposes Of the plan and the
remainder may be determined Sy the reorganiza-
tion managers or the directors Of the new company
The dividends will he non-cumulaJive until June
81, 1915, and cumulative thereafter. The preferred
stock is preferred also as 20 principal uPon quida
ton. Ghe new company reserves the option at any
time 20 redeem its preferred stock at and any
accrued and unpaid dividends for any fiscal year
after June 30 1913
The authorized common stock is S45."HoH. 81
which s45.24sels Is be used under the plan. and
the remainder as further determined by the reor-
Eanization managers or directors OF the new com
pany- a voting for five years is created. the
vornE trustees r. J Pierpont Morgan. George
=. Baker and Robert Fleming. No mortgage other
than that mentioned in the plan of reorganization
shall ne created and increase in preferred STOCK
made except with the OF majority Of the
preferred stock
The cash requirements Of the property as fol
lows: Notes and other obligations unpaid interest
and receivership End reorganization expenses about
SIS oG9.eo0 Of rehabilitation. additional ter
rninals shops equipment, Immediately TO be
provided about 50. .Sa2 "a. total s24ss2Ei
TO participate IN the plan. holders Of the present
preferred stock p" and Of the common stock must
nav KS share The basis Of participation for the
stocks Of The present company Is as follows: Inc
s2S O. nSs debenture viii receive 10 per cent
in preferred stock voting certificates of the
new COMPANY making So SS4.7aS. the S1S5s$" pre-
ferred stock A viii receive 10 per cent IN ne"
common stock making ss 80. the s23,05lai2 pre-
<erred stock B" after assessment viii receive 10
per cent in new preferred stock. making IS 45'.'si
and 50 per cent in new common stock making Sl5-
81 Is5; the So SIS $50 stock taf1er assess
rnentD viii receive i Ter cent n new preferred
stock making Sss7ssls and 20 per cent in new COM
mon stock. making Sl7golsS The exchange Of the
slo6ssl.sa present stocks NiT call for new pre-
ferred amounting te s4l,o2l,4oZ, and new common
stock Of SIS. ys13-
Deposits Of stocks may be made with J 2
Nc-ean & Co. who will issue therefor certificates
~ deposit Certificates Of deposit issued by the
Fankers' Trust Company and the Guaranty Trust
Company for stocks deposited under the auspices
Of the New York committee viii be received by the
REORGANIZATION managers in lieu Of the actual
stocks. The reorganization managers invite all
security holders apply for further details at
their Office, and add their circular We BE-
Ieve that a prompt consummation Of the plan will
inure To the interests Of the stockholders Of
al classes and Will place the property on sound
basis
The compensation q J. P. Morgan Co for their
services as reorganization managers is fixed at
s5ae0ao exclusive Of their interest participants
in the syndicate and Of their expenses.