Show 1 MEXICAN HAIL RAILWAYS V AYS WILL ILL I Five New Mew ew York Banking Interests Interests Interests Inter Inter- ests Concerned in Deal of Half Billion I INow I New Now York March Maceli 1 It I.-It It was learned toda today that tho the plan for the tho consolidation consolidation consoli consoli- dation of or the Mexican Central the National Railroad d of ot Mexico the tho Mexican International the Inter- Inter oceanic and the Hidalgo and Northeastern Northeastern North North- eastern castern railroads railroads' had hall been formally ratified at Mexico City on Friday Frida and that five b banking In interests Identified with Hh the tho proposition In Now New York and tho Mexican government had finally reached an agreement for financing the merger It Is understood understood under under- stood that the tho terms of or tho the a agreements agreements agree agree- ree- ree I I ments are substantially the same as q those drawn up last summer A conference of the New York bankers Interested was held yesterday and later the they sent by cable their acceptance ac ac- ac- ac of tho the terms offered b by the Mexican l government Tomorrow they will Issue a statement giving complete details A call for the deposit of ot securities of or the thc different companies for exchange into the new securities to be bo issued will be sent sont out It Is expected expected ex ex- before the end of or March Under the tho terms of or the agreement proposed last summer the v ne new company corn com pany pan was to have ha a capitalization of or Mexican currency consisting consisting con con- of or first preferred non-cumulative non stock entitled to 4 per cent dividends non- non cumulative second preferred stock entitled to 5 6 per cent dividends and anel of or common stock The plan also provided ed for the Issue o of I two classes of bonds one bearing 4 I and the tho other 4 2 1 per cent Interest The former was to bo be limited to a maximum of ot and tho the latter to a maximum of or U all in Mexican l currency |