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Show AOIITIII.IIV l-Atlllt). I'litn for runillu nl(l IBue j,,b, Appruveil. New Yoiin, May in rim director! ol the Northern 1'tclllo ttday formal y u Hived the plan lor lunillng tliu Iloa'. Iriicdtbt. 'ino plan iruvldea for un autherlied lone of $16,000,000 col. lairnl tiiutnutoi lotear U percoulln- tereit uud mature in live yiari, Ar- mor'e J-ioan and Truit corupauy Hill be the truitee. The i.curlly tack ol the uotea will be couiolldatod tiond. and other aueti now pledged for the floating debt and in addition HI. Paul & Norternl'aollloatock In the company'! Aroamry and the Northern Lxpreii company'a franohUe. Tho Intention of tho management li to Inuo only $15,000,000 In notei al ire.enl. The price al which Ihey will be oflerod lor iubicrlpllon generally It expected to be about 6. Vlllard .aid the tubjcrlp-lion tubjcrlp-lion llt to the underwriting ndlcate waanotyetemi.l.ted, but he had no doubt bo would be luccewfully organ-lied. organ-lied. He .aid there wn plenty of time to complete the work, ai the debt did not matuie until Heptember lit. |