Analysis of American and Canadian Securities for the Use of English Investors

Analysis of American and Canadian Securities for the Use of English Investors

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1874 edition. Excerpt: ... that one third of the entire production of last year has been transported over the roads of this company. The business of the canals has involved a loss of $467,755.60; but in view of the annual increase of the production, it is believed that it will not be long before both roads and canals will be taxed to their utmost limits. During the year, various connecting lines heretofore controlled by this company have become merged in it. The Mount Carbon Railroad, of which this company own 3,202 shares, was absorbed by exchanging share for share, the investment amounting to $178,229.25; the Schuylkill and Susquehanna Railroad, of which this company owed 21,702 shares was merged by the issue of one share for three, representing a cost of $404,388.34; and the stock of the Port Kennedy Railroad, all the stock of which, amounting to $26,893.98, was owned by this company, transferred to the item of railroad in the balance sheet. Stock of the company, to the amount of 536 shares, was also issued and exchanged for stock in the following named leased companies: Mount Carbon and Port Carbon Railroad 195 shares for 163 Schuylkill Valley Navigation Railroad 177 354 Mill Creek and Mine Hill Navigation and Railroad 164 328 The basis of the exhange was such as to secure to stockholders the same income as was derived from their stock in the above-named companies. There were also created and issued, 50,190 shares of stock, in exchange for a similar amount of convertible bonds, as follows: Loan of 1857-86..'. $17,500 Loan of 1870-90 2,492,000 Total amount converted 2,509,500 There remain outstanding only $124,000 of convertible bonds, of which $96,000 are of the 6 per cent. loan of 1886, and $28,000 of the 7 per cent. loan of 1890. The sterling...show more

Product details

  • Paperback | 38 pages
  • 189 x 246 x 2mm | 86g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236878493
  • 9781236878496