The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-05-16
Virginia Carolina
Chemical Company
I;Xccntivc Oiiicc.
Richmond. Va, Alay 10, 1911.
To the Stockholders OF Virginia Caro-

ing fund convertible gold debentures
la"d an increase in the authorized pre-
permitting the conversion of such
a.ebentulcs into preferred Stock) ana
Oh such debcntuTcs.
The dcbcnturcs now offered are to
be issued under a trust agreement
about TO be executed between this COM
pany and the Equitable Trust Company
OF New York. as trustee. which was APP
proved by the stockholders. They arc
10 al d" Mav May y. l'5 ana nd, to 5s be
interest At The rate OF 6 per cent per
annum. payable October 10 and April
10, except that the last installmcnt viii
be payable May 10, 1924. both principal
ana interest TO be payable in gold coin
OF the Cnsted states of the present
standard OF weight and nneness, with
out deduction for any tax or taxes OK
ccpt Federal income taxi.
They are to be issued as coupon
ana Registered debcntures for one thou
sand dollars or five thousand dollars.
or multiples of. five thousand dollars.
Such coupon GcbcnturcS Will be regis
teiabIc as to principal and exchange
anI" TOY registered dcbentures. ana
registered debentures for coupon deben-
,utts' a. PROVIDED III said trust agree
m"nt; The dcbentures are 20 be Sc
cured by :. sinking fund to be created
bE ihc company BY annual payments
III cash or debenturcs or debcutur.
SCRIP certificates OF two and onv-half
~ per cent OF the principal amount
sttnu!nS at the date of such payment
as, provided In said trust agreement.
All or amy o; the dcbcutures may bc
caH"u bF thc company for redemption
~ lp='o OF face value and accrued in
terest on October -. 1916, or thereafter
Tor u SUCH redemption be for tn. beue-
NJ pi the sinking fund, on October .
4 l3l", or thcrcafter), upon any semi
ahnuai interest day until and including
accrued interest upon any interest dat..
"iIer october 10. 1922. after notice
OF me trust agreement. The deben-
lures of the present issue OF tive mill
Non dollars. Will be convertible at the
option OF the holder. on any interest
payment day until and including Oc-
toDer 10, 1922, after ten days written
notice OF such election given. and after
pchosit thereof at least three days In
advance or the conversion dates as
proYided In the trust agreement. into
p"io-up shares OF the preferred cari-
! OF $40 face amount of dehcntures for
cacn such share OF the par value of
! 800 except that in lieu OF fractional
shares OF stock the holder OF deben-
lures shall be entitled to receive only
stock scrip with cash adjustment
necessary. II called for redemption.
! no riSht 10 convert any debenturc shall
;h,erGafter exist unless the holder shall
witA!n ten days after the last publ
cation Of the call give the company
notice in writing of his intention So to
convert il. and shall duly surrender it.
ana the company shall fail to redeem
the same. as provided in the trust
agreement.
The company hereby offers TO it's
stockholders ,both common and pre-
icrrcd) OF record At the close of bust
ness on Monday May %, 1911. an option
TO ,subscribc for ana purchase said five
million dollars OF dcbcniures on or be-
fore June i. 1914 CATER which latter
date said option viii not survive). at
the rate Of face value and accrued in
. tcrcst from May 10. 1914, to the date
81 suDscription and payment. in
race amount or dcbenturcs approXi-
, NAE al, IN eaSh case lo.l2-1Oofc of
stock OF record AT the close OF bust
ness on May 70, 1914. except that anv
subscriber for less than $1,000 face
amount OF debenturcs or for any
ticn OF $1,000, will be entitled to re-
ceiye only dcbcnturt scrip TO he issued
irIicti2,nlai amount or debenturcs so
subscribed for. which dcbcnturc scrip
VIII he payable simultaneously with
the principal OF the debenturcs. and
Is to be convertible into debcnturcs,
but only when surrendered in lots ag-
some multiple Thereon. and is iikewisc
to be convertible in any amounts.
being, In face value. $ll0, or multiples
thereof, into paid-up preferred stock
OF the company at the rate of Sll0 face
amount OF debenture scrip for each
such share, OF stock Of the par value
OF Slo0. and is to he rcdccmablc by the
company III each case with an adjust
ucnt Of interest), in the manner and
upon the conditions prescribed in the
the holder thereof TO the rights of
debentures in other respects only
! sion into debcntures.
Warrants will he issued specifying the
amount OF dcbenture and corr dcben-
ture scrip in respect OF which the
Stockholders are entitled to subscrip-
tion privilege. and will be mailed to
each stockholder as soon as practicable
1914. at his address as the same APP
pears upon the books OF the company.
ON each warrant TWO forms Will be
indorscd. viz: % q form of assign
mcnt to be executed by IL stakeholder
wishing TO assign, in whole or in part
the privilege OF subscription. and (o)
form OF subscription to be executed by
the stakeholder or his assignee at tho
time of subscription. The privilege
holders OF warrants or to their assigns
under the assignments executed upon
the warrant in the prescribed form. y
stakeholder Wishing To subscribe for
a portion of the amount covered by a
warrant aud to dispose of the remain
der. or wishing to dispose Of Il por-
10 another person, may return the war
rant assigned in blank. with precise
agent of the company, in due season
10 hc exchanged for other warrants.
Subscribers for less than $1,000 will
receive. as hcreinbeiore provided.
amount of their subscriptions. unless
combined with other subscriptions In
such manner as to secure dcbcntures
of the denominations OF 900.
Subscriptions must be made upon tho
warrant, the warrant be surrendered,
and the subscription price be paid To
the agent of the company for this pur-
rose. the Equitable Trust Company OF
New York, ut it's office No. 81 Wall
street, New York City. in cash. or by
certified check or New York exchange.
to the order of said trust company. on
or before June II, 1914: otherwise
warrants Will become null and VOID
and of no value.
Upon payment In full at tho t':hc Of
the subscription, subscription receipts
transferable by delivery will he issued.
emitting the bearer to temporary
dcbentures (pending engraving OF def
mite dcbcnturcs) and tor) scrip contii-
Gates. AZ the case may require. "a scon
as the same can be printed.
by order OF the board OF directors.
s. Il. MORGAN,
President