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Union Pacific plan outlines note reorganization and stock offer
A New York Boston committee proposes a plan to reorganize Union Pacific 6 percent collateral note trust. It envisions a new Union Pacific Securities company issuing 6 percent first mortgage bonds, exchanging notes at par, with $5 million in stock to noteholders up to 50 percent of par. Overdue notes, treasury bonds, and trust protections are included. plan tied to broader railroad restructuring and foreclosures to leverage value. The deadline for plan effectiveness is February 1, 1897.
MENTIONED IN THIS ARTICLE
Nw York
Union Pacific Collateral Trust
John G. Moore
James W. Alexander
New York City
Edwin F. Atkins
Boston
Union Pacific
Union Pacifico Railway
Union Pacific Securities Company
Union Pacific Railway
Weroeacaea
Mercantile Trust Company of
New York
American Loan & Trust Company of