Show O no Some SOllie INI VI Up to 10 Graniti frunk New York Yurko Oct of oC Important banking In New NewYork York In upon the dramatic episodes at al the Orand Trunk meetIng in hi London yesterday said aid that the out bk was 11 attributable la in some meas ur to an old enmity between tb the and present prent chief of tb the BYI tm tarn nut But they also alo conceded that thai the thel he l security holders of the American corn com company pany which owned tb and Orand raIlway had grievances that could not nol be questioned The our was II controlled by the Grand Orand Trunk Railway Hallway of Canada though that dId 1101 hold bold all lill of It its bend nd its securities outstanding In 11 amounted In round number to lo fir fIrst mortgage bonds M 34 I second cond hives and anI C 4 commOn stock Th she were to mature January I 1 I INC In Nov November iSIS a plan was out a 1 th the circular describing It suggested In III the Interest of all COllum n to the the thee e and Grand Trunk III unable tt meet tue Ille first sixes Iu iii at maturity tile the cooperation of the bond bondholders hol holders ThO Th bonds held If hi Ih the raud Trunk about Q a quarter Of oC the Issue were Wert of oC course oum Jure url to 10 be assent ant mi Som of III the mInority demurred Th They showed ugh Jot lIot a prot protectIVe committe an nd fauna a syndicate of Amsterdam bank UI tn willing to bu buy the road to 10 buy their boni at al par and d or to 10 gUAr gUArantee i ar antic antee interest for thirty y years ar Then tl tI found the Ille heart beart to indulge the first bondholders desires aln They promised tat par and Interest fur tur their bonds and amid further th the important additIon of at tae the Grand Orand Trunk Railway uncondItional guarantee of oC on the now fours to 10 be to III on each and every bond The second mortgage ii Ped lI been invIted In Ih the first to capitulate on far Inure terms term The com committee mitt proposed to 10 gIve I Ithem them thris but Lut In ne new tours fours for tor each I 1 GOO of oC the second tin fives WAS wall said Id about aboul during the season of and In time Ibe way t of a Grand Orand Trunk guarantee rail t tAt At first ight there was no promise e of opposition front Crom this Ihla quarter and the assents covering a practical majority of lC the In bond seemed certain from Crom We the tact that thai th Ih Grand Trunk owned half the lie whole Hilt But the minority holders got wInd of oC tb the uc ucc c scored b by the minority of aC the mortgage e bondholders and they all ap ll d for tor to om of the most 1 pert legal leRI authorities railway r re reorganization organization In the Tn Tb case WillS drown drawn III after the usual showdown the commit tea tet again a tlora They rhey not ani only to 10 give Ive the bol holders ell of at the second no In teed instead of new but bUI they also alo undertook to 10 PY pay the last lut coupon on the bonds certain expenses expense incurred d and to give them 10 on uh each bonI on Oil each II year 4 per cent bonds ud ced company to rUtn c the right to loin n the latter bonds back Mt itt an anUm any Um tim within ten len years yearl at al 65 5 un on the Defore lh thy arand gets a cent on the stO stOCk It of the nw company whit whIch h I is to lu be Is h to It In repayment of advances H Hnud and nud In full Cull satIsfactIon or of the floating debt Ilela the old stock being Ini wiped out oUI the olti ohl leon will hate to tn th Ih I Iper per interest th their lr In QUIt conic bonds III full |