Untitled Page 28

OverviewTranscribeVersionsHelp

Facsimile

Transcription

Status: Complete

This amount could very readily be handled then at
four percent either by arrangement with the United States
or by the placing of a loan by the Company upon the market
presuming that no financial crisis or panic then prevailed
are the interest payable bt the Company would be after that
date reduced to less than twelve hundred thousand dollars
per annum ($1200000)

To further exemplify the financially ability of the
Railroad Company to meet the Governmental obligations I
would refer to Schedule No. 4 being the report of the
Company December 31 1886 of their assets and liabilities.
This account ignores the undivided earnings or "Profit and
Loss Account" amount the terms of Indebtedness. It also
included among its assets the estimated value of the lands
unsold some thirty Millions of Dollars. It serves to give
additional assurance of the ability of the Company to meet
all demands of the United States when such demands fall due.

But however to provide against all contingencies the
Profit and Loss account should in no event be reduced below
its present Status. While the railroad COmpany should have
full power to divide among its stockholders all future income
or earnings over and above the Government demands as above
stated this fund should be preserved inviolate.

To reiterate the plan above set for maybe
condensed as follows:-

1. Create a Sinking Fund with two Trustees one appointed
by the President and one by the Railroad Company.

Notes and Questions

Nobody has written a note for this page yet

Please sign in to write a note for this page