The scheme of improvement is the result of a comprehensive survey made by Messrs. Price, Bacon, Guthrie & Colpitts; it includes the following six points: Writing down of Plant Account to Minus $1,000,000,000. Par Value of Common Stock to be reduced to 1¢. Payment of all wages and salaries in option warrants. Inventories to be carried at $1. Preferred Stock to be replaced by non-interest bearing bonds redeemable at 50% discount. A $1,000,000,000 Contingency Reserve to be established.
