Untitled Page 28

OverviewTranscribeVersionsHelp

Here you can see all page revisions and compare the changes have been made in each revision. Left column shows the page title and transcription in the selected revision, right column shows what have been changed. Unchanged text is highlighted in white, deleted text is highlighted in red, and inserted text is highlighted in green color.

2 revisions
alexander.nguyen at Apr 23, 2020 07:58 PM

Untitled Page 28

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.