The Coconino sun., 1912-10-25
PAGE FOUR

 office. No. 59 Cedar Street, in the City If New York, for account of all the parties in interest. Any holders of such bonds (other than the $324. .000 of such bonds held by the Santa Fe Pacific Company may become parties to this agree ment on or before such date as the Committee may prescribed by deliv- ering, on the terms of this agree ment, to said D. L. Gallup, or to such other depositary as the Com mittee may appuint, their honds, with all coupons thereto belonging, except coupons which matured prior to the first day of July. 1900. Depositing Bondholders shall receive receipts signed by said depositary, or by any other depositary that may be designated by the Committee, specifying the bonds and coupons deposited. and referring to this agreement, which receipts and all rights hereunder shall be transferable, subject to this agreement. in such manner as the Committee may approve. The Committee. in its discretion, may require any Depositing Bondhold- CTS. at the time of such deposit. to sign a copy of this agreement, and to deliver the same. to the de- positary; but any depositor, by receiving any such receipt signed by the depositary. shall become a party hereto with the same effect as if he had signed this agreement. Depositing Bondholders who fail to deposit their bonds on or before such date as the Committee shall prescribe will not be entitled to deposit the same or to become par ties to this agreement. or to share in the benefits thereof, and shall acquire no rights hereunder; but the Committee, in its discl etion, either generally or in special in- stances, may extend the time for receiving deposits and may receive deposits to a later date, and may waive any default by writing signed by a majority of the mem- bers of the Committee. or by reso- lution
 Owners of bonds of the Railroad Company deposited with the Inter national Trust Company for pur. poses of foreclosure may deposit such bonds by causing said Inter. national Trust Company to deliver the same to the depositary, who thereupon as holder of said bond: may redeposit the same with said International Trust Company ir exchange for receipts therefor tt be issued by said Trust Company to the depositary.
 II.
 The Depositing Bondholders re quest the Committee to endeavol to carry out this agreement anC the following plan. viz:
 The railroad and property of the Railroad Company, when sold al judicial sale. shall be bid in. by oi for account of the Committee, which shall cause the same to be conveyed to and vested in a new railroad company, in consideration of the issue therefor of Sl50. .00C par value of the fully paid up five per cent preferred stock and Sl,- 205, 900 par value of the fully paid up common stock of such new rail- road company. Such Sl50, 900 of preferred stock shail be part of an authorized issue of S250. .000; and such preferred stock shall entitle the holders thereof to receive cumu- lative dividends at the rate of five per cent per annum before any dividend shall be paid on the com mon stock, and in case of dissolu- tion or liquidation of the com pany, to receive the par amount of their stock together with any cumu- lative dividends that shall have accrued thereon. and that shall remain unpaid. before any sum shall be payable to the holders of the common stock. Such Sl ,205, . 900 of the common stock and S250. : 900 of preferred stock are to be the total authorized issue of the capital stock of such new railroad company.
 The Committee is to enter into an agreement with the Santa Fe Pacific Company. whereby the Santa Fe Pacific Company shall agree to deposit with the Commit tee said $324. 900 par value of such bonds of the Railroad Company, together with coupons thereon maturing subsequent to July |, 1900. and from time to time to ex- pend for the purposes hereinafter stated or to pay over to the Com