Show The Texas and Pacific NEW YOKK June 2SA meeting of the Texas 1t Pacific income bond ands and-s was held today and they discussed the essential points of the plan for a reorganization to be submitted sub-mitted to tho security holder Under this plan the eastern division bondholders bond-holders will receive a 5 percent bond in exchange for their present per cent bond and the Texas Rios 3 per cent bond The income bondholders wilt receIve re-ceIve 3 per cent income bond and the first proceeds of the sale of bonds up to 750000 will go into the companys treasury The stock is to be assessed 5 per cent |