The sun., 1916-11-01
PERE MARQUETTE
SALE Is ENDORSED
denomination Committees
Favor Foreclosure on
Company's Bonds.
NEW ISSUES DECIDED ON
Purchase Syndicate Will Re-
ccive Holdings From
Loan Syndicate.
NEW ISSUES DECIDED OF

nlnn OF rcadJustment OF the Pere
Marquette Railroad Company has been
spproved by the three protective COM
m,,tees engaged in the reorganization. II
"a. announced yesterday by the reor-
sanitation managers, J. & w. Sel!gman
70. Robert Winthrop 4 Co, and Il. v.
p Thayer. In the work OF ~rcorganiza-
,Ion tho committees were assisted by l..
r Ioree. president of the Delaware and
Hudson Railway. and j. w. kendr'ck.
OHIO made an exhaustive report on the
ct,cago. Rock Island and Pacific for the
,cceiyer. and one Of the committees.
The plan calls for the sale. under fore
closure, Of all property OF the Pere
rouettc The new company will have
an authorized issue OF $4,000. 900 OF
Nrs, NOR, ga bonds carrying interest
=, a rate not TO exceed 8 per cent.
iii 900. 600 81 : per cent. cumulative
r,Ior Preference stock si2.429. 900 3 per
esn, prcferrcd stock cumulative as to
AividcndS after January !, 1919, and
Sis.Ois. 600 common stock.
An ,hrc, Classes of stock will be held
tor five years by Il voting trust consist
Ing OF James s. Alexander. Francis II.
Hart. Frederick Strauss. Eugene V. II.
Thayer. Robert Winthrop and Beekman
winthrop.
The estimated ca sh requirements under
I'M MAN are lNsNW'.VN's w Pi'Ni u "
vhich A purchase syndicate consisting OF
W, Seligman. Robert winthrop &
n and Kidder, Peabody & Co. will pur-
rhase &c. OOO, 900 arst mortgage series
A s per cent. bonds, Sl1. 200, 900 5 per
cent. prior preference stock trust cert.i-
Gates and s25.675.400 common stock trust
certificates. The syndicate will pay for
these securities SO. 900. 900 and accrued
interest on the bonds and will receive a
Aaat nm tha v,nNt-
mum syndicate obligations Of SIC .0oo,-
900. 40 provision has been made for the
underw -i:irg of the cash required for
nayment to non-assenting holders Of
bonds or Of any of the issues provided
for IN the plan.
The Guaranty Trust Company will
form a loan syndicate which Will adj
vince 70 the purchase syndicate funds
up 10 so per cent OF the par amount Of
prior reference stock and common stock
NOT subscribed for by security holders.
II Is expected that these advances will
Be payable not later than January l.
1919. The reorganization managers VIII
receive IN compensation n OF l per cent.
on the aggregate PRINCIPAL amount OF
the new bonds TO ne issued and u OF ]
per cent. upon the aggregate par value or
the three classes OF new stock. In addi-
ton the reorganization managers have
the privilege OF participating in any OF
The synd.cates.
CHESAPEAKE 4 O~HiO-Gross earnings
for september were t,.i9s.S3o, an incnease
1tj?li5; net earnings ater taxes w"r"
Gsesi on. showing a decrease OF Sli.ses,
Of E.Sli For three months ended Sept
gross earnings we're sl?.+'o,5lo. or
ris5s5 m,,G than In lsls, ne, ameI
Isl, and surplus after charges 9s,36J,52I.
again OF sf?:,si7.
CHICAGO & AITON-Repor,s for Sep
!smbsr gross carninss sisas !2s, inc
sa.i,lis; net after taxes SilS,j3l, inc
foo.?i5' for three months ended Sgpt 80
gross earnings si.5iS.s;S. inc. s77i.ssit
|, from July ! t.ite.7?s, inc. Sji,?3j.
= CINCINNATI. HAMILTON g. DAYTON
-R.ports for september gross earning,
Ni.3s3, dec. .lli.ess: net after taxes
Cti1i7. dee. SIs,ils; for three month";
ended Sept. 80 gross earnings s?,s25.sii
Msi,si'
DULUTH, MIssAPE & NORTHERN
sepismhe- gross earnings were f2,l59,s0s
an Increase Of s~5sl.ss7 over last year,
sgurcs, and net after taxes we're f.Sso.'
~. a gain Of s335.9is. For three month
tnt.i sept 80 gross earnings were. So.
after taxes ,'.O37,i3?. or si.O?7. col NOR,
than n year ago.
ERlE-Gross earnings for septemhc,
were is3aioil, inc. sitistS; net aftel
months ended sept. so gross earnings SIS,
N:5o?, inc. sso26.s0s net after taxei
S3'. inc. t9gl ,0S7.
.LEHlfH VALLEY-Gross earnings FOL
september were ~. 30s. ssl. an Increase q
HteS-' rot after taxes were Sl,0S4.s3o
or 20 i'S mss than In 1915. For three
inon'hs eniei sept 10 gross eara.ngs wer,
U10S:,lo4. an increase Of 3i.595 los. anC
t.t after taxes were }3.5li.:it. a gain o
Cts33.
". J, SCSorEHANNA & WESTERN
n.po'ts Tor september gross earnings s2st,
vi, dec. s72.1l,. net after taxes si5.lsi
gee Es.1sl: for nine months ended Sept
gross enrninFs t3,O7;,2 cal. Inc. sS0.i66
h' after taxes s7ttSsj, dec. i2Os.jii.
VIRGINIA RAILWAY Reports for Sep
Mmher gross earnings sTSa. 926. inc. fls3,
~ net a'er tnyes $500 2j2, inc. SEES
iot ,tNr"e months ended sept. 30 gros
@hes 'loi6.is inc. slTT,ssi.