Show AC U 0 1 L pa OFFER harriman Harri will furnish funds to meet erie RA raila road obligations new york april S after an offer by ID H har harraman Harrl riman man to furnish the funds to meet the obligations of the erie rail road company by the purchase of a new large issue of notes J P morgan co announced late today that the holders of the erie notes amounting to which matured today would either cither be paid par in cash for their notes or given the ae option of taking a new edw three year 6 per cent note and 5 per cent of the new notes in cash the offer of mr harriman Harrl man was wael accepted by the board of directors of the railroad today what proportion of the maturing notes will be paid in cash has hag not been made public mr Harri mans proposal was set forth in the following communication addressed today to the erie directors for the p of enabling your company to pay its notes maturing this ch I 1 s day I 1 offer to purchase of new 6 per cent collateral trust gold notes payable april 8 1911 1 authorized by your board at the price of 95 cents on the dollar such price to bo be paid by me when and as but only when and as the same shall bo be required for and be applied to the payments of such notes maturing today and in consideration of I 1 tho the receipt of the new 6 per cent collateral gold notes secured as heretofore proposed the notes and indenture to bo be substantially as considered and approved by my counsel im Immediately med lately u pon upon your acceptance of this offer you are to cause announcement no to ne be made to the holders of your said notes maturing today that they may receive payment thereof at par in cash or until and including wednesday april 15 16 at their option they will have the privilege of receiving for their present notes at par new 6 per cent collateral trust notes at par and also cash to the amount of 5 per cent of the new notes note less the interest accrued thereon you may cause such payments and deliveries to them to be made out of the cash to bo be provided or out of the new notes receivable cei vable by me under this offer and its acceptance the announcement of J P morgan co follows referring to the above dence we are not now prepared to pay to any note holder presenting notes or our receipts for notes already deposited par for the said notes or at the option of the holder until and including april 15 1908 to deliver a new three year 6 per cents cent note and 5 per cent in cash less jess accrued interest on the note pending the preparation of the new notes temporary certificates will be issued |