Annual Report of the Public Service Commission, And the ... Annual Report of the Board of Railroad Commissioners 1917/pt. 1
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The present company is the successor of the Norton and Taun- ton Street Railway Company, which was organized in 1897 and which went into the hands of a receiver on July 6, 1915. At that time the corporate deficit amounted to $143,181 and the liabilities of the company were as follows: — Capital stock, $297,000 Funded debt, . 296,000 Current liabilities, . 172,628 Total, . $765,628 The current liabilities were largely made up of matured interest unpaid. The assets of the company included a line ...from Mans- field to Easton which had been abandoned, and also rolling stock and a car barn which had been destroyed by fire just prior to the receivership. On February 7, 1916, the then existing prop- erty was purchased at a receiver's sale by a committee repre- senting the bondholders of the old road and was turned over to the present company, organized for that purpose. On December 21, 1916, the Commission found the fair cost of replacing the railway and property so acquired to be $213,864, and the issue of stock to the amount of $120,000 has been approved.
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To quickly assess the difficulty of the text, read a short excerpt:
The present company is the successor of the Norton and Taun- ton Street Railway Company, which was organized in 1897 and which went into the hands of a receiver on July 6, 1915. At that time the corporate deficit amounted to $143,181 and the liabilities of the company were as follows: — Capital stock, $297,000 Funded debt, . 296,000 Current liabilities, . 172,628 Total, . $765,628 The current liabilities were largely made up of matured interest unpaid. The assets of the company included a line ...from Mans- field to Easton which had been abandoned, and also rolling stock and a car barn which had been destroyed by fire just prior to the receivership. On February 7, 1916, the then existing prop- erty was purchased at a receiver's sale by a committee repre- senting the bondholders of the old road and was turned over to the present company, organized for that purpose. On December 21, 1916, the Commission found the fair cost of replacing the railway and property so acquired to be $213,864, and the issue of stock to the amount of $120,000 has been approved.
What to read after Annual Report of the Public Service Commission, And the ... Annual Report of the Board of Railroad Commissioners 1917/pt. 1?
You can find similar books in the "Read Also" column, or choose other free books by Massachusetts. Public Service Commission to read onlineMoreLess
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