The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-05-01
NOTE EXTENSION FOR
MIX. EFFECTIVE
Time for DcpOsiting Balance Of
Notes Extended by Direc-
tors to May l..
RECEINERSIIIP ANERTED

The board of directors OF the Missouri.
Kansas and Texas Railway Company
yesterday declared effective the plan for
the extension of the $4,000. 600 two
year pr cent. COED notes. which ma
ture to-day. This means that the com
pany will not have to meet the maturity
Of these notes until stay /. 1916, and
lhat the possibility of receivership which
the road faced up to tho time the plan
WAS declared effective has been averted.
At the same time IL was ANNOUNCED
that the time for depositing the balance
If the notes the ho'uers of which haH
not already agreed to the plan. had
been extended until May 4. Deposits
should be made at the Central Trust
Company.
The extension OF the So. 000. 900 notes
is looked upon In the financial district
As having cleared up one of the two bad
spots in the railroad fled for the time
at least. the other being the Missouri
Pacific Railway Company. which has
s25. 900 notes tarIus due on June I,
The following statement was issued
yesterday 10y the Directors
the hoard Of directors of the rail-
way company has to-day declared e.
fc,tive the extension agre' ment dated
April IA. 1915. Holders of receipts for
notes deposited with May I coupons at
tached should present the same on or
after May /, 1915. "a the Central Trust
Company for payment Of the iustalmoHt
of Interest then due on said notes. tou-
pons for said instalrnent OF interest not
deposited under the extension agree
mcut should he presented for payment At
IN" sam. time and place. Deposit re-
ceipis and coupons when presented
should -" accompanied by certificates of
ownership and are required by the In
ternal Revenue Department under the
Federal income tax
Holders of receipts upon surrender
thereof &" the deposltary will be en-
titled to receive notes duly extended as
Ia tho extension agreement provided To
the face amount mentioned IN the re-
ccirts with the additional interest cou-
pOus annexed.
The time for further deposits has
been extended to and Including May
{. 1918 Noteholdcrs who have not AL
ready done 50 should. in their own
interest. deposit their notes At once
with IN" Central Trust Company OF
New York. the depostary nan-i in
'nc extension agreement. ia order 10
secure the benefits thereof The prompt
cooperation OF all the nnteholders Will
faciitat" the plans now being consid-
cred by the directors, which Cpntem-
plate the pnynen; Of all extended notes
Bt or before maturity
II was learned yesterday that consii-
Grafton has been given lately by the di-
rec:ors ~ the Union Pacific - the old
plan of Il. II. Hartman of buying an
interest IN the Missouri. Kansas and
TEXAS The plan has been revived sew
eril times since the death of the fiuan-
ci"r, but came up for weighty Cousid-
GRAFTON again when Il seemed possible
shat .hr Missouri. Kansas and Tex I
might not be able To- obtain an extern
sion OF - maturing obligations
According 'u well founded reports tho
directors ~ tho Union Pacifc pl"n-d
to obtain a substantial interest TN Mis-
souri,. Kansas and Texas through tho
rurcui-" OF IN, maturing notes and
other obligations mus saving he road
from q rccrI ysrsh.p "a case Tho extern
sion plan failed 20 become effective
through the failur, II the small holders
of TN" notes to agree. II was state
its, night 10y director OF me Union
Pacific that the plan had been dropped
nov that IN" extension % the Katy :
note. had been declared effective but Il
. les believed by no means certain mat 'he
ritn may not hr revived