| Show Gln H Third Ita lion That Amount The Tho troubles of the tta Third Avenue nail rood company Now York to lO be the exciting topic In Wall street The composition of the syndicate which Is to reorganize the tho road Is not definite Ir I known but It Is II known that Ver Company thu tho bankers are at attIm tIm head of It The of W n Ii Curtiss vr of the ThIrd Avenue Annul announcing the solution of the Is as follows As s chairman of th the committee up ap appointed pointed tot fot that b by the board of tf directors I have t entered Into an ann n agreement with a syndicate of eminent bankers banket including two very cry large In international banking houses and un under Under der the t terms of the agreement the tho bankers will trill furnish to the company the lium sum of at 5 1 ver Or cent I have hare also entered into an agreement with other othor parties who ho will III furnish to the tho company compan the sum of addi The terms upon uvon which these at ar hare been made arE In In my opinion very err advantageous to the com coin pony owning a 0 majority of tim tho capital stock ot of the company compan have de decided tu to form tonn a which shall I lease ate time properties of the Third Avenue In perpetu I it ib and nt at an annual rental to pay Its fixed charges and In addi ton lion thereto dividends upon uvon Its lis stock on a scale beginning at of 4 pr per cent im immediately mediately nud reaching 5 per annum at attIe atIe tIe Ie end of oC tour four years ears and l continuing at that rate In this connection the stockholders of the Third venue company will ac quiro certain very valuable rights The companY will deposIt with A trust company 8 to the Third Avenue n a sum In of In east which Mall stand os as asa u a guarantee fund for the tho payment of ofte tle te dl Ryan Han and of the tho Metropolitan Co published a statement today to the tho effect that the tho Je tan Co does docs not want the Third avenue and never nover has con considered l the question ot of taking It over oer This statement sur surPrises me very cry much because within the last thirty days J PI Pierpont Morgan p personally offered to m me to take tako UI and full fully reorganize the finances of the Third Avenue Co I on condition that the stockholders would consent to n a lease lense to the Metropolitan on terms which would guarantee to the stockholders tour four per cent per annum In perpetuIty tull James n It Jeene cene says In reference to the subject V I Rm am the hoMer holder of n a large amount of the capital tock stock of the Third Avenue Co a portion of which Is In ray my hands on advances that I have the party owning It for n a very ery long period of time and thoroughly thorough se secured cured The tight to vote ole on any Bitton for the tho pledged stock In connee tion with any plan Ilan to the tho com cam compan pony pan on a sound basis has been dole dele deleted gated ted to me b by time the party to 0 whom I 1 he have lent the money I nm am therefore In imi sympathy with lIh his Interest and In for tor his hison own on given hen the Interest of this to any projected scheme echeme that would benefit the tho company compan I hate hac taken great grent pains to inform myself respecting the value of the property of the company Its pros eat ent and Its future Prospects and after the most thorough gallon atlon I urn am satisfied that the tho Third Avenue Railroad Co Ca will emerge In II a afew few months when hm the tho full etl n of Its lines is completed Into one of the best paying properties In the tho country Whatever ma may be the proposed plan for an acceptable reorganization of the company It will have hae my eart and thorough support |
