Gunnison news-champion., 1916-08-25
ORGANIZATION OF COLORADO.
iULE MARBLE Co. ANNOUNCED

NAEALAaA 1A4lAIs-iA%AlAS lI4t
ton Of the Colorado YuIe Marble COM
pany and the termination of receiver
ship has been sent the stockholders of
the company. The men comprising the
reorganization committee are Mortimer
Matthews, Norton NJ. Little and A. J.
Mitchell. J. F. Manning Is receiver.
The plan of the committee as stated
i TO protect the present holders and
to raise money which will aid the COM
pany in operating after emerging from
under the receivership. Owners Of
stocks and bonds of the company are
asked to deposit them with the Colorado
National Bank at Denver on or before
Sept. 10.
The committee is empowered TO pur-
chase the assets and business Of the
company at foreclosure sale and to AZ
range for their acquisition by a new
company. which will issue mortgage
bonds and preferred and common stock
as contemplated by the reorganization
plan or by the transfer Of the deposited
stock TO new company in exchange
for the preferred or common stock of
the new company or by a combination
Of two or more methods. Security
holders are TO be given receipts and il
the majority of them do not approve Of
it, their securities will be returned.
The cash or new bonds are to be at
the will OF the holders. Holders Of ex-
isting underlying bonds can exchange
their bonds, par for par, for like
amount of ten-year bonds, or may re-
ceive at their option the par value Of
their bonds. plus accured interest. In
cash Holders of first refunding bonds
will receive for every 81, 600 par value
the following: New 5 per cent general
mortgage bonds, par value. $3.50; new 6
per cent cumulative preferred stock,
par value, $500: new common stock. par
value. $3.50.
Holders Of second refundIng bonds
will receive for every Sl,OoC par value
per cent general bonds. par value.
$3.50: per cent cumulative preferre1
stock, par value. $500; and common
stock. par value, $3.50.
Subscribers for first and second se-
funding bonds and for the $4,000 loaa,
who have as yet received no securities,
and holders of the debentures will re-
ceive for every 81 900 par value thereof.
the new securities in the same manner
and proportion.
Holders Of existing first preferred
stock will receive for every $1,000 par
value thereof in the new common stock.
par value $l00. or at said rate. Hold
ers of existing second preferred stoGk
will receive fer every 81 900 par vaIje,
thereof in the new common stock. psf
value SIS. or at said rate. Holders Of
existing common stock will receive for
every $1,000 par value thereof in the
new common stock, par value $50. or at
said rate. Holders of past due coupons
from first and second refunding bonds.
or those who are entitled to receive in
terest whichis past due from debenturesI
or refunding notes. and those who are|
entitled to receive interest on subscrip-
tions for first and second refundingI
bonds and the $50. 600 loan, which Sc
curities have not been issued, are to re-
ceive for every 500 par value of such
delinquent interest, in the new common
stock. par value, SIS. or at said rate.
The proposed now capitalization is as
follows:
Bonds and capital stock to be out
standing upon consummarion Of plan:
6 per cent first mortgage god
bonds (authorized and out
standing) )------------s s., 900, 600
5 per cent general mortgage
gold bonds authorized ST.
900, 900 outstanding ATS
6 per cent cumulative PREFER
ed stock (preferred both as
todividends and assets; COM
ulative after Jan. l, 1910 i, 200, 600
Common stock authorized and
outstanding) 500, 600 |