A Compilation of the Laws Deeds Mortgages Leases And Other Instruments And

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During that four years, about three and three quarter millions of dollars of net earnings were re-invested in improving and equipping the line, and all of it was invested economically and productively. In all, nearly seven millions of net earnings have 219 been thus re-invested, without counting interest thereon, and without adding a dollar to the stock or bonds of the Company ; and detailed statements of the nature of the investments have been annually made ; and the property which has been ad
...ded remains visibly to attest the wisdom and prudence of the policy. The agreement for re-organization between the bondholders and stockholders was made in view of the railway revulsion of 1857 ; was conceived in a spirit of caution and sobriety ; all classes made their contributions to place the property upon a sound and dura ble basis ; the bondholders conceded about a million from their legal rights, and more than half a million was saved by the pru dent and skillful administration of the trust created by the credi tors after the creditors were paid.

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