Railroad Efficiency And Dismemberment Testimony of Mr J Kruttschnitt Chairma
Railroad Efficiency And Dismemberment Testimony of Mr J Kruttschnitt Chairma
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In fine, to proceed on a program of improvement to fully meet the requirements of existing and future business. The Cen- tral Pacific as an independent company has no credit in the finan- cial markets of the world. If separated from the Southern Pacific it could not raise the capital necessary for these improvements now needed nor the huge additional amounts required solely on account of separation and which would otherwise be unnecessary. In the settlement of its debt with the Government of th...e United States in 1899 the guaranty of the Southern Pacific as to both principal and interest was required in order to provide for settlement of said debt, which amounted to $58, 820, 000, and the negotiation of bonds to take care of the same, and also for refunding and construction purposes. The Southern Pacific likewise had to guarantee $9, 640, 000 short line first mortgage bonds to finance construction by the Central Pacific of the Lucin cut-off. The last loan nego- tiated for the benefit of the Central Pacific was its European Loan of 1911, which was negotiated solely upon the basis, first, of its guaranty as to principal and interest by the Southern Pacific, and second, by a pledge of $83, 985, 800 of the liquid assets of the South- ern Pacific Company represented by stocks and bonds in other companies, which are the only tangible securities back of this loan.
What to read after Railroad Efficiency And Dismemberment Testimony of Mr J Kruttschnitt Chairma?
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To quickly assess the difficulty of the text, read a short excerpt:
In fine, to proceed on a program of improvement to fully meet the requirements of existing and future business. The Cen- tral Pacific as an independent company has no credit in the finan- cial markets of the world. If separated from the Southern Pacific it could not raise the capital necessary for these improvements now needed nor the huge additional amounts required solely on account of separation and which would otherwise be unnecessary. In the settlement of its debt with the Government of th...e United States in 1899 the guaranty of the Southern Pacific as to both principal and interest was required in order to provide for settlement of said debt, which amounted to $58, 820, 000, and the negotiation of bonds to take care of the same, and also for refunding and construction purposes. The Southern Pacific likewise had to guarantee $9, 640, 000 short line first mortgage bonds to finance construction by the Central Pacific of the Lucin cut-off. The last loan nego- tiated for the benefit of the Central Pacific was its European Loan of 1911, which was negotiated solely upon the basis, first, of its guaranty as to principal and interest by the Southern Pacific, and second, by a pledge of $83, 985, 800 of the liquid assets of the South- ern Pacific Company represented by stocks and bonds in other companies, which are the only tangible securities back of this loan.
What to read after Railroad Efficiency And Dismemberment Testimony of Mr J Kruttschnitt Chairma?
You can find similar books in the "Read Also" column, or choose other free books by Julius Kruttschnitt to read onlineMoreLess
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