New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-05-16
FINANCIAL MEETING.
vIRGINIa.CAROlINA CHEMICAL COMPANY
EXECUTIVE OFFICE.
Richmond. Va. May l5, 1914
.s..,fyh,F.Ha~a M
vinia-Carolina Chcmical Company:

Your directors announce that a. the spec al
meeting held on the l2,h day OF MAJ, lsli 10
stockholders authorized the creation ar Ten
Million Dollars l0.coo,oQol ten-year SIS pei
cent sinking fund convertible goa deueI-4le.
(anl an increase I'm the authorize prefer. -N
capital stock Of the Company permitting iHe
conversion ~ such debenturss into preferred
stock) and the present issue or Five MllN'l
Dollars Of such deoentures.
The debentures row offered are q Dr. l.-lel
under Trust Agreement about % he executed
between this Company and The Equitable iils
Company Of New York. As Trustee. "a.ea was
approved by the stockholders. Iney are r.
dated NAV l.. 1914 and 10 be payable Ma
Is. 1924 and will bear interest az the rate ot
SIX Per Cent. per anuum, payable octooer l'th
and April 18th. except that the last ln7'a linel,
will be PAYABLE May Is. 1924 both principti ana
interest to be payable IN gold coin OF t.'
United States Of the present standard ~ we!sai
and hneness, without deductions for any TAX
or taxes except Federal Income TAX.
They are 10 be issued as coupon deuehllI''
for one thousand dollars and registered o.
bentures for one thousand dollars or rive iHgl-
sand dollars or muluples or rive tnousaAu -.t'
lars such coupon debentures VIII he regis
terable as TO principal and exchange ior
REGISTERED dehenturcs, and registered deoentlI's
for coupon debentures as provided Do sald irus
Agreement The debentures are 20 be -cc-feg
bv a Sinking Fund % be created 10y the Cone
pany by annual payments In cash or deht ntlFe5
or debenturc scrip certificates OF Two ana one.
half t2ia) per cent. OF the principal amount o.
debentures and debcnture scrip OUTSTANDING d.
tho date Of such payment as provided % SAID
Trust Agreement All or any Of the debeuiures
may be called by the Company for reiempuon
al 1927 OF face value and accrued interest on
october l5 1916 or thereafter (or r. such re-
demption be Tor the hcuent or tl' 0ihhls
Fund on October l.. 1915 or thereafter uioa
anv semi-annual interest day until ana inci4l-
ing October 10. 1922, or AZ face value ana a.
crued interest upon any interest date alier V'-
tober Is 1922. after notice given m a-.o-la..'
with the provisions OF the Irust AsIe@i,. ~.
The debentures OF the present issue M Nv
Million Dollars will be convertible ~ me or
ton OF the holder on any Interest payment lel
until and including October T.. l'--, afier r.
days' written notice Of such election gwen t'
after deposit thereof At least thrsc days IN az
vance of the conversion date, as pro. ilea Z,
the Trust Agreement, into pai1-lp shares p.
the preferred capital stock ar the company -
the rare Of $40 face amount Of dcrenturss iN
each such share OF the par value of f-" W
cept that Ia lieu OF fractional s1are' oi ~.
the holder OF debentures SHAH oe eauusl /.
receive only stock scrip WIN a CASH ilgN,--
tnent OF interest and current dlN.den1s " nees'-
sarv. II called for redemption no rgnt 70 81.
vert any debeuture shall Thereafter fNl-t WIS,
the holder shall Within ter days aileI ~ "a
publication II the call. give fhe COMPANY 10
tice in writing OF bis intention 80 m c2hY,r...
and shall duly surrender u ana we .giats1 7.
shall fail to redeem the same as proFiae'
the Trust Agreement .,..s
The company hereby offers 10 is s'ockno'de,
doth common and preferred OF RECORD at U.
close of business on Monday. May - ~ e
option 10 subscribe for ana purchase sara n.
T,iliJon dollars ~ d.bentures On or before June
Il. 1914 latter which latter date SAID oitlon W.
not SURVIVED. at the rate or race Nail' an.
crued interest from May 49, 1918 20 ne ~ -
subscription and payment. ln aino-h-s tbs,,.
TONED 10 a. e. az the face amount ~ l-pen,
ures approximately I'm each case l'- i-fiv :,
their face holdings n the COMPANY ~ ,rt
record at the close OF business on May - "a
except th- any subscriber for l-ss llan ,,,r
face amount OF debentures or FOR any 80
of debentures. including a fraction on 49,,
will be entitled 10 receive only ceo'I' -77..,s-,
o znfA =
for the fractional amount or deneA'ul - :.
subscribed FOR. which debenture scrip WI W. !,
payable simultaneously with the pil..,Lo 49,,
the debentures and Is 20 he con. ttt,', ~,
dehenturss but only when surrendefef IN -
aggreeating in face amount N"' OF -.
multiple thereof. and is likewise % ne ,s
ibls in any amounts. being IN race 1,rs,.r-,i
or multiples thereof. into pail uN .,,o f,,,
stock Of the Company AZ the rate or 49,.
amount Of debenture scrip Tor et-n 80 - -
OF stock Of the par value or flfi "hl -. .it
redeemable by the Company un earH 80 s,f
an adjustment Of INTEREST. IN in. 'l''ssi5 Tryr
uron the conditions prescribed I'D Ut .t.,.,
Agreement, but viii entitie the no'I-' .-,s.s
20 the rights Of debentures lh o.,e. o,ttersis-
only through the medium OF a..''
into debentures. t..t-y ne
Warrants viii be issued speciiyia, s-
amount OF debentures anfLor aeoe.'-- srrirlst
regpect OF which the stockholders arc iiss /,
10 subscription privilege. and VII - W. sry
each stakeholder as soon az prt =. tis Al
the close OF business on May 70. i'. s,oEs q
dress as the same dpieat9 "tr-'
the company. .., A.. ,,Sorst
On each warrant two forms vii ~ en1,1H
viz. ~ \ form OF asst gnment o ~ t.is G.
bv a stockholder wishing 10 assign pr - {.
ia part the privilege OF SUBS ilNl- b, ~
form OF subscription % De eNec.,-. ~ So
stockholder or his assignee az nc IL is a,-
scriDtiOn. The privilege oi -uor. d, tref
corded only 10 holders 81 warrants ~ "a no.
assigns under the assignments 'A.N~- s.,.s-
the warrant in tho prescribed foili lion =
holder wishing 20 subscribe Tor Il =, az
the amount covered by Nalral. ssooss
pose Of the remainder or Nislll- ~,nir
of a norton To one person ana ti. ,.t -
10 another person. may return he ',,,..,-1..
signed In blank With precise WIZ .,-,rtsf
lions % the Transfer Agent or 'ne a..
in due season 20 be exchanged 'or o"'
rants. an -srs -
as hereinbefore provided. dehcntlre f-.lr-,lsss
dictates 10 the amount ~ their -losst.s IS
unless combined With Other sun-,lt M 80
such manner az 20 secure deh0hi@iV'
denomination Of 1900. -. AZ
Subscriptions must be made upon 80 ~
rant. the warrant 70 BE sure defrn n u,
subscription price be paid 20 ne as, -.,,,,,ss
comnanv for this purpose. The F9vhXa
Trust Company Of New York, ~ iis oh r
81 Wall street New York CITY, III - .
By certified check or New York go - ~
the order 81 said Trust COMPANY On .,r 20 !
fore June Il. 1914 otherwise warrants
come null and void and ~ no f'iN. ~ :.
L pon payment bon full a. tnc u-- s.rts,
subscription subscription receipts 'e ,As-f' F
by delivery will be issued. emitting -a,,sg
10 temporary debeutlres tpending fhsIa'tsra,s
dednitiye dehentuTes). and/or SCRIP 80. az,
as the case may require. as soon -
can be printed
By order OF N. Board o. Directors a...
s. T MORGAN, PreHoS'-