Speeches And Public Correspondence of Ratcliffe Hicks
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He is opposed to any more increase in stock. He is opposed to cutting any more melons ; and he is in favor of bonding this road for these improvements at a low rate of interest, and creating a sinking fund for paying them off. And he is right. I venture to say that the Pratt and Whitney Co. , the Meriden Britannia Co. , Wheeler and Wilson Manufacturing Co. , and the Willimantic Linen Co. , would be very glad if they had less capital and more surplus.
In common with some stockholders of this roa...d, I do not think it is good policy to talk about cut- ting any more melons or giving away any more stock when all the towns along the line of this road from Greenwich to Mystic, and along the Housatonic and Naugatuck roads, the Air-Line, and the main branch to Enfield, are being asked almost to pauperize themselves to help pay for abolishing its grade crossings.
Of course the great danger in having an enor- mous capital is that in twenty-five years a Gould or a Sage may own this road, and it will become the plaything of Wall Street, and be wrecked and robbed, as more than nine-tenths of the railroads of this country have been, either first or last ; and the poor savings-bank depositors in Connecticut, and the small Connecticut owners who thought 1 06 DEBENTURE CERTIFICATES they had a good investment, may live to see how it was wrecked and lost in the maelstrom of specu- lation and manipulation.
What to read after Speeches And Public Correspondence of Ratcliffe Hicks?
You can find similar books in the "Read Also" column, or choose other free books by Ratcliffe Hicks to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
He is opposed to any more increase in stock. He is opposed to cutting any more melons ; and he is in favor of bonding this road for these improvements at a low rate of interest, and creating a sinking fund for paying them off. And he is right. I venture to say that the Pratt and Whitney Co. , the Meriden Britannia Co. , Wheeler and Wilson Manufacturing Co. , and the Willimantic Linen Co. , would be very glad if they had less capital and more surplus.
In common with some stockholders of this roa...d, I do not think it is good policy to talk about cut- ting any more melons or giving away any more stock when all the towns along the line of this road from Greenwich to Mystic, and along the Housatonic and Naugatuck roads, the Air-Line, and the main branch to Enfield, are being asked almost to pauperize themselves to help pay for abolishing its grade crossings.
Of course the great danger in having an enor- mous capital is that in twenty-five years a Gould or a Sage may own this road, and it will become the plaything of Wall Street, and be wrecked and robbed, as more than nine-tenths of the railroads of this country have been, either first or last ; and the poor savings-bank depositors in Connecticut, and the small Connecticut owners who thought 1 06 DEBENTURE CERTIFICATES they had a good investment, may live to see how it was wrecked and lost in the maelstrom of specu- lation and manipulation.
What to read after Speeches And Public Correspondence of Ratcliffe Hicks?
You can find similar books in the "Read Also" column, or choose other free books by Ratcliffe Hicks to read onlineMoreLess
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