| Show AMERICAN CO COl l rc t n a StAtement Ic Its New York Sept U n L Coleman or of the BIcycle Co has issued Q a statement In iii regard t to the affairs ot of the and plans under con consideration for tor the reorganization ot of the combination 1 It says as Interest t on the debenture bonds duo due Set Sept 2 wi wIll not be paid at this time b have e been instituted lo looking to the appointment ot of n a tempo temporary receiver or receivers In the luter e est t of bond and stockholders Id d for reorganIzatIon wi will be sub at au an enl early date dato for tor theIr ap approval approve prove 1 The movinG moving reason reMon for this course coune Is that the company II is and amid has baa ben been Is its organization hampered b bI by I lack k or of capital and It Is con can expected tha that the he proposed reo to wl wIll furnish the necessary funds for the proper conduct ot of lf is bu The company Is perfectly solvent and hn has an ne as assured Burd future The Tho American Bicycle company Is Isnow isnow now a ii holding company or of the or of the American Cycle Mt Mfg Co Inter Motor Car Co I Federal lg Co and National Battery company and ethers None Nono or of thes these tour four subsidized companies will I ho bo affected V by time the tact fact that the company COmpan hal hiLls been placed In the Ole hands or of n a rec receiver Al All Allare are In Ia god good anti what assist mince ance they nee need wi will be rendered l by 1 the directors ot of the tho Co Coor Coor or th the bondholders In Interest Thee There Is 19 10 no occasion lon for tor alarm on or of any or of the tho above named con comi I It lie io tat stat 11 ci that list tho those mo most l larsel largely Interested tl 11 iii the campan securities are aro In Un hires entire Indicated an upon The Tho AmericAn Co rn ns In In New ew J Jersey le In day fR lS 9 I It WI was organized to acquire Ind mind operate the tho works ot or U 41 ot of tie the principal lanu mann ot of blIle bIcycle pArts In the United These concerns represented MrA comas 15 5 F separate plants It WIS as claimed nt at tim tho time turned out about 10 IO per cent ot of al oil th the manufactured In the country Th rh amount of common stock I is OO or of which Is out outstanding standing ThC The preferred tock stock la is m ot of which U Is In Ing Tho stockholders voted on Oct 31 I to reduce the authorize authorized stol stock from to the shown nh above Time Th five per cent to SWO |
