The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-07-16
'DENY RECEIVER PLAN
FOR MISSOURI PACIFIC.
Protective Committees. Officers
Say, Expected to Help in
Money Worries.
THIRD COMMITTEE NAMED
Stockholders as We'll as Bond
holders Act to Guard
interests.

Interests connected with the Missouri
Pacific Railway Company and the COM
mittces appointed 10 protect investors In
the securities of that system denied yes
terday that the protective committees were
formed with view 20 a reccivershlp or
that such a thing was now imminent.
II was said tina, It was hoped that the
efforts of the committees would aid in
bringing about reorganization of tho
disordered finances Of the Missouri Pacific
without recourse to the more costly means
OF receivership.
Officers of tho Missouri Pacific denied
that there was any danger OF a receiver
ship for tho company for the next ton
months AZ least. They said that the road
was IN "A position to meet all its interest
payments, including those OF August /. on
the 500, 100000 first mortgage convertible
. per cent bonds and the 1925. 900 4
per cent. bonds of 1905. without recoIrse
to further financing.
Considerable interest was manifested in
the formation of the committees. "a an
nouuccd yesterday. Kuhn, Loeb 4 Co :
connection with the bondholders commit
tees aroused interest az TO whether com
ing rcadjustment OF the roads finances
would be along the lines pointed out in
the letter TO the Goulds, written when
tho bankers refused to undertake. the
financing OF the S25. 600 notes matur-
ing June I. 1t was noted that. with TWO
representatives on the bondholders COM
mittccs, the bankers would be in an cx-
cellent position to make the Gould inter
esis come TO terms in the matter OF how
the properties should he conducted in case
another crisis like that OF last spring
in the roads affairs occurred or to insist
ON their elimination. That tho Goulds
had no intention TO rellnquish their con-
troll of the property unless forced to DO
so was the belief last June. when George
/ Gould took over some si.o00.OOO OF the
unextended . per cent notes.
The belief continues that within year
some readjustment OF the Missouri Pa =
cfic's finances will have TO be brought
about II Ia thought that II will be along
{ the lines advocated by Kuhn. Loeb &
| Co. when the ,;oulds were negotiating
with them to finance tho s25.O00.000 ;
per cent. notes due June /. should such
n step he taken L would necessitate a
| drastic scaling down OF the bonded In
| debtedness Of tho road. when there should
be protective committees to look after
| the interests OF the security holders.
! 4 stockholders protective committee
/ has been formed with James y. Wallace.
/ president OF the Central Trust CDm-
pany as chairman. Liz" the two bond
I holders committees this committee will
not call for deposits OF stock for the
present.
! The committee aside from Mr.. Wallace
/ consists OF the following J. Horace Hard
Ing Frederick Strauss Albert II. Wiggin
and Robert Winsor.
Tho notice sent out Ia the share
holders reads as follows: "Tn view Of the
formation OF committees representing
bonds Of the Missouri Pacific Railway
Company IN" undersigned have cOnsti-
/ tuted themselves a committee for the pro.
! lection Of the holders Of stock II Is
/ not deemed necessary to call for deposit,
at this time. but the committee while
waiting further developments requests
stockholders 20 furnish Il with their
names. addresses and the amounts Of
T their holdings"