Note: The signature to the above assignment must be guaranteed by a bank or trust company having a New York correspondert or by a New York Stock Exchange firm.

The signature must correspond with the name as written upon the face of the certificate, in every particular, without alteration or enlargement, or any change whatever.

If the assignment be executed by a corporation, an administrator, executor, trustee, guardian, attorney, or other fiduciary, proper evidence of authority so to act, if not on file with the depositary, must be forwarded with the assignment.

In Witness Whereof, the undersigned as a committee as aforesaid have caused this certificate to be signed in their behalf by the issuing depositary, and the registration hereof to be attested by the below-named registrar.

Dated

19-.

George F. Baker,

J. Pierpont Morgan,
John J. Mitchell,

As a committee under the above mentioned deposit agreement dated

Illinois Merchants Trust Company,

19-.

Second Mortgage Five Per Cent. Gold Bond. Deposited under a plan and agreement of reorganization dated, 19-, made between J. & W. Seligman & Co. and Hallgarten & Co., reorganization managers, of the first part,

and holders of bonds, notes and stock becoming parties thereto in the manner therein provided, of the second part, an original counterpart of which is lodged with the Columbia Trust Company.

of the 19-,

Columbia Trust Company hereby certifies that it has received one bond of the issue aforesaid, numbered face value of one thousand dollars, with coupon due and all subsequent coupons attached. Said bond has been deposited in trust subject to the terms and conditions of, and is deliverable as stated in, the above mentioned plan and agreement.

The holder hereof assents to and is bound by the provisions of said plan and agreement by receiving this certificate and is entitled to receive all the securities, benefits and advantages to which the depositor of such bond is or may become entitled pursuant to the provisions of said plan and agreement.

The interest represented by this certificate is transferable, subject to the terms and conditions of said plan and agreement, by the delivery of this certificate. This certificate may be registered as to ownership, but after registration no transfer except on the books of the Columbia Trust Company shall be valid unless the last transfer be to bearer, when this certificate will be transferable by delivery as before.

New York,

Columbia Trust Company,
By

Assistant Secretary.

Form 3552.

Notice of Deposits Under Reorganization Plan (Servel

Corporations).

Receivers having been appointed of the above named corporations, the undersigned have consented to act as the reorganization committee under a plan and agreement for their reorganization, dated September 27, 1927, copies of which may be obtained from the depositaries and the sub-depositary under the plan or from the secretary of the committee.

Deposits of notes of and claims against said companies must be made on or before October 22, 1927, with Central Union Trust Company of New York as depositary, or, in the case of notes

of or claims against The Servel Manufacturing Company, with Old National Bank in Evansville as sub-depositary, and certificates of deposit will be issued in respect of such deposits by said depositary or by the sub-depositary. Five year 6% convertible notes of The Servel Corporation (of Delaware) must be deposited in negotiable form and accompanied by the coupon maturing October 1, 1927, and all subsequent coupons. Assignment of all other claims must be executed in the form prescribed by the committee. Forms of assignment may be obtained from the said depositary, the sub-depositary or the secretary of the committee. Promissory notes must be indorsed without recourse.

Depositors of the five-year 6% convertible notes of The Servel Corporation (of Delaware) or of other claims against that corporation, desiring to exercise the rights of subscription conferred upon them by the plan, at the time of deposit of their notes or claims must make payment to Central Union Trust Company of New York as depositary for account of the reorganization committee, in New York funds, of the initial instalment prescribed by the plan, viz.: $25 for each $100 principal amount of new first mortgage bonds accompanied by voting trust certificates for 121⁄2 shares of new common stock, subscribed for subject to allotment, as provided in the plan.

Deposit of stock must be made on or before October 22, 1927, with The Chase National Bank of the City of New York as depositary or, in the case of preferred stock of The Servel Manufacturing Company, with Old National Bank in Evansville as sub-depositary. Certificates of deposit will be issued by said depositary or by the sub-depositary for deposited preferred stock of The Servel Manufacturing Company, but otherwise certificates of deposit will not be issued for stock. All stock certificates must be accompanied by duly executed transfers thereof in blank. Depositors of stock of The Servel Corporation (of Delaware) and of The Servel Corporation of New York must at the time of deposit make the initial payment of $1 per share prescribed by the plan, in New York funds, to said depositary for account of the reorganization committee, and thereupon they will be entitled to receive, in case of the deposit of stock of The Servel Corporation, participation warrants, and, in the case of the deposit of stock of The Servel Corporation of New York, purchase certificates, as provided in the plan.

It is of the utmost importance that all deposits be made promptly so that with the least possible interference with the

carrying on of the business the reorganization may be accomplished at the earliest practicable date and the new money provided by the plan made available for the use of the new company.

Dated, September 27, 1927.

(Signature of reorganization committee.)

Form 3553.

Participation Warrants-Requisites Essential to Delivery. All holders of participation warrants severally and respectively agree, for themselves and their respective transferees and assigns, that prompt payment of the instalments called for by the participation warrants is an essential condition precedent to the delivery to them of the bonds and stock specified in the warrants and that any holder of such a participation warrant who shall fail to pay any instalment under such warrant within the period fixed by the reorganization managers for payment thereof, shall forfeit all rights in respect of prior instalments paid and otherwise under his participation warrant and all rights in respect of bonds or stock specified in such participation warrant, and all rights under this plan and agreement and such participation warrant forthwith shall become null and void and of no effect for any purpose. The reorganization managers may, however, in their discretion, from time to time, in general or particular instances and upon such general or special terms and conditions as they may see fit, enlarge or extend the time within which holders of such participation warrants may make such payments, or may waive any forfeiture in respect thereof.

Form 3554.

Notice to the Holders of Undeposited Bonds, Notes and Stocks. To the holders of undeposited bonds, notes and stock of the issues and classes above mentioned.

Bonds and notes may be deposited under the reorganization plan and agreement in accordance with the requirements thereof without penalty prior to ———, 19—.

Stock may be deposited under the reorganization plan and agreement in accordance with the requirements thereof up to

the close of business on, 19, upon paying at the time of such deposit the $20.00 per share of preferred stock and the $25.00 per share of common stock required by said plan and agreement, and in addition interest on the amounts so required. to be paid at the rate of six per cent. per annum from 19-.

Stock will not be received on deposit under the plan after 19-.

Dated, New York,, 19-.

J. & W. Seligman & Co.,
Hallgarten & Co.,

Reorganization Managers.

Form 3555.

Notice to Holders of Certificates of Deposit of Option to Exchange for Bonds Issued in Reorganization Plan.

The undersigned have taken an active part to protect the interests of the First Mortgage Bondholders and a plan of reorganization has been published. This plan not only safeguards your bonds, but affords an option for exchange into bonds bearing a higher rate of interest which may prove attractive to bondholders.

Holders of the First Mortgage Four Per Cent. Bonds of 1990, have the choice open to them, either

(a) To retain, undisturbed, their present bonds paying four per cent. per annum, having 69 years to run:

(b) To deposit under the plan, which offers in exchange new Prior Lien Mortgage Bonds for the same principal amount, but with an aggregate interest rate of four and one-half per cent. per annum and having 40 years to run, secured by a new Prior Lien Mortgage which (except to the extent that the First Mortgage 4's and a few minor issues are not deposited under the plan) will be substantially a first mortgage on the entire system embraced in the reorganization (including substantially all of its lines of railroad, rolling stock, shops and terminals, all existing First Mortgage Bonds refunded and generally all property hereafter acquired).

In either event, the overdue coupon is to be paid in cash. Believing that the choice is essentially one for the individual bondholder, your committee having accomplished the purpose for which it was organized, has decided to dissolve.