New-York tribune., 1922-07-19
FINANCIAL

subscription pnce previously paid or there
after payable, n not forfeited IN accordance
with the foregoing provisions Of this oreri
will be appropriately adjusted with owners OF
such Subscription Warrants but without any
allowance Of interest. Owners OF Subscfp-
ton Warrants must produce their Subsefip-
ton Warrants ioT tins purpose 10 the DC
positary for proper notation II and whenever
thereunto requested by the Reofganizatioa
Managers.
Any holder Of claim Sc assigned eleetina
70 exercise such subscription night may AZ
the time Of deposit Of his assignment eles'
then 20 pay the entire amount OF the suo'
soripiion price under the suoseIlptr,on -.
rant deliverable IN respect OF such dssls,.
ment. and such payment will be properly
noted on such Subscription warrant IL.
The amount OF bonds and stock OF tho
New Company 20 be specihed IN INC ouo-
scfiption Warrants. subject 70 reoueuoh d.
herein stated. will be: ..
fourteen per cent. l4fs) OF tne amount m
Of the claim 50 assigned IN Priof Lien
Nortgage Bonds OF the New Company,
Series {, Six Per Cent. carrying inter-
est from January ], 1922;
six Der cent. (6ss) OF the amount Of the
claim 80 assigned IN Adjustment Mort
gage Bonds OF the New Company
Series A. Five Per Cent, ranking Tor
interest from January !, 1922, and
the amount OF the claim 50 assigned IN
Common Stock OF the New Company
(without nominal or par value) al the
rate OF one share for every hundred
dollars OF such amount.
For fractional interests in respect ot
securities and/or Preferred Stock and/or
Common Stock OF the New Company, scrip
may be delivered by the Reorganization
Managers in such form as they may DC
terrine and such scrip may be interest or
non.ipterest bearing, dividend or non.div-
deud bearing, as the Reorganization Man
ayers may determine.
The receipts OF the Depositsry, as well a.
The Subscrfption Warrants, will be issued
under the Reorganization Plan and VIII be
subject 70 all the provisions OF the keoi s4n.-
zation Plan and OF this offer and VIII be IN
such form as the Reorganization Managers
sbaii prescribe. The Reorganization Man
ayers and the Deposiiafy and rs Agent may
Tor al purposes, deem and treat the person
in whose name any receipt or Subscription
Warrant is issued as the owner thereof.
So lar as the Reorganization Or the issue
/ OF securities or stock under the Reofganiza.
ton Plan may be subject 20 the appfoVai
or authorization OF any governmental au-
thority having jurisdiction IN the premises
the amount OF capitalization OF the Nc"
Company 70 be issued in the reorganization
may be reduced by such amount as the ke'
organization Managers may IN Their un'
restricted discretion determine, IN order 10
comply with the order Of. or 10 Obtain
the authorization or approval OF, any sueh
| governmental authority. In the event Of
such reduction Of capitalization, the whoc
Of such reduction will be made IN the Com
mon Stock OF the New Company and the
| amount OF the Common Stock OF the New
/ Company offered for subscription 20 General
/ Creditors and deliverable under Subscription
/ Warrants will be reduced IN the same f@uo
as the amounts OF Common Stock speeihed
/ In the Participation Warrants issued under
/ the Reorganization Plan.
The deposit OF assignments OF claims here
under shall not estop or IN any wise prevent
/ the depositor thereof from asserting that the
claim 50 assigned IS pnof m lien or su-
pefior in equity 10 the lien OF any OF the
mortgages enforced and ioreclosed in any
Of the above entitled Consolidated Causes,
or in any constituent cause OF any thereof,
and IN the event that such claim Is hnally
| adjudicated 70 be 50 prior IN hen or superior
in equity % any such mortgage, then at the
/ option OF the owner OF the receipt or Sub
scripiion Warrant issued IN respect thereof.
10 be exercised by notice IN writing to be
given TO the Reorganization Managers WITHIN
sixty days after such tnal adjudication, inc
| assignment OF such claim, and such receipt
or Subscription Warrant shall become null
and void provided. however. that as con-
| ditiou precedent 20 the exercise OF such
/ option. the owner OF such receipt or Sub
| scfipton Warrant shall surrender the same
10 the Depostary or IT'S said Agent properly
endorsed and stamped and upon such sur
/ render OF any Subscription Warrant, all IN.
sfalments paid on account OF the subscrip.
ton price, II not forfeited in accordance
| with the foregoing provisions OF this Offer.
will be refunded 70 the owner OF such
Subscription Warrant (but without IN
teresO.
The deposit Of assignments Of claims
which at the time OF such deposit have not
been finally established and allowed in any
one OF said causes (including claims COW
cred by any order Of allowance, the time
20 appeal from which has not expired at
the time OF such depOsit) shall not estop or
IN any manner prevent the Reorganization
| Managers from obiecting 10 and resisting, IN
such manner as they may determine. tho
| allowance OF said Claims IN whole or IN
part. in such cause or in any other proceed
ing which may be brought on such claims
/ BY the DcpOsitors thereof, or the allowance
/ OF any claim OF priority made IN respect
thereof. or from disputing the amounts OF
said claims or from taking or prosecuting,
or causing 20 be taken or prosecuted, any
appeals from any order or judgment IN
respect Of said claims which they may de.
termine upon nor shall the deposit here
under OF such assignments OF claims estop
the Depostors thereof from establishing
their claims in any one Of said causes nor
| from asserting any claim OF priority in
respect thereof, nor from prosecuting an
appeal from any order or judgment allowing
or dsallowing any such claim, or any
priority claimed in respect thereof; but
Deposiiors Of claims must deiray their own
costs and expenses in all proceedings taken
or participated IN by them for the establish
mcnt or allowance OF said claims. including
appeals prosecuted BY them, whether IN one
OF said causes or otherwise. By deposit OF
such assignment the Creditor warrants and
by such assignment be shall warrant that
the Creditor. the assignor, is the uncondi.
tional owner OF the claim 50 assigned and
that no previous assignment OF such claim
or Of any part thereof has been made.
The Reorganization Managers shall have
and may exercise and be entitled 10 all Of
the powers and privileges which may be
conferred upon them by the Reorganization
Plan which is hereby made a part hereof
as fully and with like effect as II herein set
forth IN full. The Reorganization Plan may
be modified from time 20 time by the Reor-
ganizstion Managers.
ii any governmental authority having
jurisdiction IN the premises shall refuse TO
approve the Reorganization Plan or shall
refuse % approve this offer or shall rciuss
20 authorize or permit issue or delivery. in
accordance with the Reorganization Plan.
Of the new securities dealt with under the
Reorganization Plan, this offer may be with
drawn or modified by the Reorganization
Managers in their discretion. In the event
OF such Withdrawal or any such mobilization
which shall adversely affect the interests Of
Depositofs under this offer. or II the Reor-
ganization Plan shall be finally abandoned.
al claims heretofore assigned under this
offer shall be assigned 20 the respective
owners Of receipts and Subscription War.
rants upon surrender Of their receipts OF
and stamped. and all insialments paid on
account OF the subscription price. II not for.
/ feiicd m accordance with the foregoing pro-
visions Of this offer. shall be refunded 10
such owners Of Subscription Warrants (bus
without INTEREST,". and all rights Of everyone
under this offer shall forthwith cease and
determine.