Remedial Railroad Legislation, 1919; Testimony Before Senate Committee On Interstate Commerce And Statements Bearing On the Return of the Railroads of the United States to Private Management And Operation
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To quickly assess the difficulty of the text, read a short excerpt:
Those bonds fell so low — below 60 — that it could not be justified in selling them in order to produce an improvement fund. An effort was then made to issue another mortgage, as interest rates had fallen, of 5 per cent bonds to take the place of this 4 per cent bond, and every arrangement was made to put that bond on the market, but when the time came to launch the loan they found it was utterly impossible to do so, and they had to withdraw it.
I have attempted to depict this condition of rail...road credit so that you may have before you at least my point of view with 149 respect to the problem in establishing a new system of dealing with these railroads.
Senator Watson. How can we by legislation change or im- prove that condition?
Mr. Thom. Well, that is the very point that I want to argue now, Senator. I say, there is your condition. Now, you must, if you are going to deal successfully with this problem, meet that situation, it seems to me, in some way. It calls for a calm, dispassionate consideration of existing systems of regulation.
What to read after Remedial Railroad Legislation, 1919; Testimony Before Senate Committee On Interstate Commerce And Statements Bearing On the Return of the Railroads of the United States to Private Management And Operation?
You can find similar books in the "Read Also" column, or choose other free books by United States. Congress. Senate. Committee On Interstate Commerce to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Those bonds fell so low — below 60 — that it could not be justified in selling them in order to produce an improvement fund. An effort was then made to issue another mortgage, as interest rates had fallen, of 5 per cent bonds to take the place of this 4 per cent bond, and every arrangement was made to put that bond on the market, but when the time came to launch the loan they found it was utterly impossible to do so, and they had to withdraw it.
I have attempted to depict this condition of rail...road credit so that you may have before you at least my point of view with 149 respect to the problem in establishing a new system of dealing with these railroads.
Senator Watson. How can we by legislation change or im- prove that condition?
Mr. Thom. Well, that is the very point that I want to argue now, Senator. I say, there is your condition. Now, you must, if you are going to deal successfully with this problem, meet that situation, it seems to me, in some way. It calls for a calm, dispassionate consideration of existing systems of regulation.
What to read after Remedial Railroad Legislation, 1919; Testimony Before Senate Committee On Interstate Commerce And Statements Bearing On the Return of the Railroads of the United States to Private Management And Operation?
You can find similar books in the "Read Also" column, or choose other free books by United States. Congress. Senate. Committee On Interstate Commerce to read onlineMoreLess
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