[437] Ry. Times, 65:817, 1894.
[438] Ry. Rev. 34:379, 1894.
[439] Report of Mr. Stephen Little to the New York, London, and Amsterdam Committees of Reorganization, 1894.
[440] Chron. 59:233, 1894.
[441] Ry. Times, 66:543, 1894.
[442] Chron. 59:878, 1894; Ibid. 59:919, 1894.
[443] In addition, prior lien bonds were authorized to a maximum of $17,000,000, of which $12,000,000 might be used if desirable in place of general mortgage bonds in the retirement of guarantee fund notes, equipment bonds, etc., and $5,000,000 for necessary improvements within five years.
[444] Second mortgage A bonds received 113 per cent in new preferred stock. Second mortgage B bonds received 118 per cent. “After careful consideration,” said the plan, “it was decided to be best for the interest of those [the second mortgage] securities that they should now be converted into 5 per cent preferred stock, possessing full voting powers and preferential rights as to principal as well as interest, rather than revert to their original form of ‘Income Bonds.’ It was not thought that a greater assessment than $10 could be raised from the stock, and the remainder had to come from the junior bonds.”
[445] The plan of reorganization was published separately, but was reprinted in Chron. 60:658, 1895.
[446] Ry. Rev. 35:208–9, 1895.