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Show COLORADO RAILWAY HAS REORGANIZE NEW YORK, May 24. It has been decided by tho reorganization committee commit-tee of the Denver & Southwestern .railroad .rail-road to abandon the plan proposed last October, and today a circular will be distributed to general mortgage bondholders bond-holders authorizing an amended plan. The proposed plan completely wipes out tho present stock of the company and gives the united security to the general gen-eral mortgage bondholders. A new company com-pany will be Incorporated, with no funded debt, and Its stock aggregating $5,500,000 will be given pro rata to the present holders of general mortgage bonds who assent to the plan. These securities compose the units which were welded together In order to form the Denver & Southwestern In 1SJ9. which controlled all thc outlets from the gold fields of Cripple Creek until the Colorado Springs and Cripple Creek District railroad was organized by mine owners. They have a par value of $4,625,000. The reorganization plan, according to the circular to be issued today, provides for the purchase of these securities by the committee In behalf of thc bond- holders. The plan further provides that the board of directors for tho first year shall be appointed by the reorganization reorganiza-tion committee. |