Soon after Mr. Little’s final report in November three of the existing committees, namely, the General Reorganization Committee, the London Committee, and Messrs. Hope & Co. of Amsterdam, joined in a Joint Executive Reorganization Committee, with Edward King as chairman.[442] With these now worked a committee chosen by the directors themselves. The result was a reorganization plan under date of March 14, 1895. The purposes announced were: (_a_) To reduce fixed charges to a safe limit; (_b_) To make adequate provision for future capital requirements, subject to proper restrictions as to issue of bonds for this purpose; (_c_) To liquidate the floating debt, and to make adequate provision for existing prior lien indebtedness shortly to mature; (_d_) To reinstate existing securities upon equitable terms in their order of priority; (_e_) To consolidate and unify the system (so far as practicable) and thus to save large annual expense. It was proposed to foreclose the Atchison general mortgage ... and to vest in a railway company the bonds, stocks, and other properties of the existing company, acquired at foreclosure sale or otherwise. The new company was to issue: (_a_) Common Stock $102,000,000 (_b_) Five per cent non-cumulative preferred stock 111,486,000 (_c_) General mortgage 4 per cent bonds 96,990,582 (_d_) Adjustment 4 per cent bonds 51,728,310[443] Of the above the interest on only the general mortgage bonds was to be a fixed charge;—the stock obviously got a return only when earned, and the adjustment bonds were income bonds in fact if not in name. Additional issues to a comparatively small aggregate were provided for, but no mortgage, other than the general and adjustment mortgages, was to be executed by the company, nor was the amount of preferred stock to be increased, unless the execution of such mortgage, or such increase of preferred stock, should have received the consent of the holders of a majority of the whole amount of preferred stock at the time outstanding, given at a meeting of the stockholders called for that purpose, and the consent of the holders of a majority of such part of the common stock as should be represented at said meeting. The securities mentioned were to retire all previously existing issues. Old common stockholders were to receive share for share in the common stock of the new company. They were to be assessed $10 per share, and to receive for the assessment $10 in new preferred stock, while a syndicate guaranteed payment of assessments by engaging to take the place of non-assenting or defaulting stockholders. The general mortgage bondholders were to get 75 per cent of their holdings in new general mortgage 4s and 40 per cent in adjustment 4s. The second mortgage and income bondholders were to be assessed 4 per cent and were to get new preferred stock.[444] The prior lien bondholders were dealt with