2012, ISBN: 123629629X

[EAN: 9781236296290], Neubuch, [PU: Rarebooksclub.com, United States], Brand New Book ***** Print on Demand *****.This historic book may have numerous typos and missing text. Purchasers c… Mehr…

[EAN: 9781236296290], Neubuch, [PU: Rarebooksclub.com, United States], Brand New Book ***** Print on Demand *****.This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1911 Excerpt: . to the position of the first mortgage bonds which were redeemed. For instance: The Atchison, Topeka and Santa Fe had a general mortgage bond issue on the main line, which was preceded by a first mortgage due in 1905. In 1905, the first mortgage matured and additional general mortgage bonds were put out to pay off the first mortgage bondholders, and as soon as that was done, the general mortgage bond became a first lien on that particular part of the road. It was also usually provided that a certain amount, varying from one million to five million, could' be issued each year for improvements, extensions, branches, etc. A typical issue of this class, although not created as_a result of reorganization, is the Chicago, Milwaukee Railroad bonds bearing 3% per cent. The total amount of the authorized issue is $150,0001,000; only $40,000,000 have so far been put out, the balance being reserved to take up divisional and branch bonds as they mature, and also to provide. funds for improvements and extensions. These bonds are secured by a first mortgage on over 1,700 miles of road, and are a junior lien on the balance of the system. The Chicago, Milwaukee and St. Paul general mortgage bonds are regarded as a high grade security, because the total indebtedness of the company is very light in comparison with the value of its assets, and because the earnings are more than three times as much as required to pay its fixed charges. The Atchison, Topeka and Santa Fe bonds, due in 1995, and issued in 1895 as a result of a reorganization plan which terminated the receivership of that road, were authorized to an amount of $165,000,000 and $152,000,000 of these are now outstanding. They are secured by a first mortgage on more than 5,000 miles of road. Since the reorganization t.<

ISBN: 123629629X

[EAN: 9781236296290], Neubuch, Paperback. Shipping may be from our UK, US or Australian warehouse depending on stock availability. This item is printed on demand. 122 pages. 0.231

ISBN: 123629629X

[EAN: 9781236296290], Neubuch, Paperback. Shipping may be from our UK, US or Australian warehouse depending on stock availability. This item is printed on demand. 122 pages. 0.231