Show TIE NARROW GAUGE New fllorljfafjc Bonds to be Issued andxfJie I > t IS G to be Kc jS organized At last a plan for the reorganization of I the Denver Rio Grande has says the Railway Register been agreed on by the committee having the matter in charge While this scheme has not been formally assented to by the bond and stockholders it is reasonably sure to receive re-ceive their approval For the present first mortgage bonds and car trust certificates which bear 7 and 8 per cent new first mortgage bonds Bearing 6 per cent interest are to be issued This new mortgage is to he in two series one of ten millions to have the prior lien and to be exchanged for present first liens as above stated the second series of twenty millions to bear 4 < j per cent interest for three years and after that the rate of 5 per cent will be used to take up the present consolidated mortgage bonds A new second mortgage mort-gage of 20000000 in noncumulative debentures to receive 5 per cent will be issued to those of the stockholders who agree topay 75 in cash for 100 of debentures de-bentures Of these debentures only 11000000 will be used to execute the plan the remainder being reserved for the acquisition of new property when needed S This scheme seems to be fair to 1 interested in-terested and i consummated will put in effective shape this really meritorious property The Denver Rio Grande is a road that ought to pay well if not capitalized capit-alized at too high a rate When the reorganization is accomplished accom-plished the Denver Rio Grande Western West-ern ought to be united to the present system and then the combined lines can enter upon a new career of prosperity |