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Show HARRIMAN COMES J TQ ERIE'S RESCUE 1 ! Will Furnish Funds to Meet Obligations of $5,500,000 : Xotes Now Due. t ' ' m . ;; ANNOUNCEMENT IS MADE - ' THROUGH MORGAN SYNDICATE , Offer Accepted by Board of Di- rectors, and Then Made J ; Public.' J 1 XKW YORK, April ' S. After an -flf offer by Kdward IT. Harriman to jW furnish tho funds to mccjt'thc obliga- wL .Hons of the Eric railroad capital by' I Ihe purchase of a' now large issue' B of notcs, 'J. P. Morgan & Co. an- J : nounced late today that the holders of IJ the Eric notes, amounting to 5.50u,- 'If 000, which matured today, would cither I be paid jiar in cash for" their notes or, f given the option of taking a now three- ill : .year G per cent note and 5' per. cent i of the now notes iii cash. The oii'cr I fl otMr. Ilarriinan was accepted bv the- 'VPwi board of directors of the railroad to- rW day. "What- projmrtion of the maturing wt notes will be paid in cash ha3 not been 'f MM made public. ' M"r. Harriman 's proposal was set I iMf forth in the following communication, r .'B addressed to the Erie directors: J M& Offer of Harriman. ? 1f "For the purpose of enabling viuvr! tLI Jf company to pay its .5,o00,000, notes- ft'-lfil -'JJX'P? iodny- offer to jmrc'hnso M 1 -MX ?.Vj00,000 of new 0' per cent collatcfnl i ill '!list Rold notes, payable April S. . I'-'lkEi 1911, authorized by your board, at the ' fW price of 05 cents on the dollar, such ' 3 ciif price to be paid by mc when and as. mJx 4 but only 'when aud as the same shall' Kff H f be rofin red for and be apjlied to the- ; fcl -'J jiayment of such o.oOO.OOO notes ma- 1 li turing today, and in consideration of J if j tho receipt of tho new fi per cent col-1 , i f lateral gold notes, secured as heretofore . ' 'M proposed, r.uo notes and indenture to be' JH substantial- as considered and ap-' ! - "'(MM proved by 1113' counsel. , ' 1 . "Upon your acceptance of theso of-! I ' H fers, you aro to cause announcement to -V Mm be made to rho holders of vouv sa'nl ' Mm notes maturing today, that the'v mav re- I A r coive payment, thereof at par' in vash:' ' ' J-yum or until and including Wednesday, April 1 . V rH 1.1. at their option, they will, hnvo thV. 1 -ti MTV privilege of receiving for their present I x lmm notes at par. new si- per cent collat- ' irH oral trust notes at par, aud also cash to 'MB the amount of five per cent of tho now' 1 W-fl notes, less the interest accrued thereon.! r Bl Tonus of Paymc'nt. i ' . -Iffrfl ''Yon may cause such jiaymcnts and Svm deliveries, to them to be out. of the cash 4 . V 'vMu to bo provided out of the new notes' 1, jLvM receivable by mc under this offer anfll J; y fH its accejilauce." iff '! r'H The announcement of J. P. Morgan : ' Jl fc company follows: I I M irfB "neferfing to the above corrcspon-j f H 'it: H donco, we aro now prepared to pav- 1 J 1&iB to any note-hobler presenting notes, or. t '4;.r-B our receipts for notes already deposit- f , 'JH od, par for the said notes or at rhci i tf, H option of the holder until and includ- f Hi ing April 15, 190S, fo deliver a new MM three-year six per cent note and five , ' P 1 por cent in cash less accrued interest 1 f HH on the note. f n VKlH "Pending the preparation of tho new notes, temporary certificates will be is- t Til 11 sued." r ' |