Word: railroads
(lookup in dictionary)
(lookup stats)
Dates: during 1920-1929
Sort By: most recent first
(reverse)
...production of certain types of goods. . . ." These goods, he noted, included many luxuries, few necessities. He cited depression in industries producing food, clothing, coal, transportation. And a few blocks distant, President Daniel Willard of the great Baltimore & Ohio R. R. rose in the Hotel Commodore to add: "Since 1920, railroad earnings have fallen short of a 'fair' percentage...
Last week, while engineers of the Pennsylvania Railroad proceeded with plans to electrify its trunk lines from New York to Philadelphia (TIME, Nov. 12), lawyers reviewed the intricate financial network across which the Pennsy spins its tracks. Every passenger, dining on a crack New York-Philadelphia train, knows he is eating Pennsy food, sitting on a Pennsy chair, riding in a Pennsy car on Pennsy wheels. But not every passenger knows he is riding over the lines of the United New Jersey Railroad & Canal...
Pennsy officials last week anticipated no such alarming event. Many a railroad sends its passengers over leased lines.* Pennsy would not think of endangering its lease. And the benevolent I. C. C. at Washington would intervene to avert transportational disaster...
...tiny Elmira & Williamsport R. R. Pennsy took the line, in 1914, from the owning Northern Central R. R. Co. Together with 73.49 miles of single track, 0.34 miles of double track, a 999-year lease dating from 1863, the Pennsy acquired one of the freak obligations of railroad finance. For on May 1, 1863, the Elmira & Williamsport R. R. issued $569,500 coupon bonds, in denominations of $500, not callable before date of maturity. That date was fixed at Oct. 1, 2862, just seven months less than 1,000 years distant. When the bonds mature, the E. & M. or owning...
...Railroad securities specialists have pondered many another example of freak financing. Wisconsin's Green Bay & Western R. R. (G. B. & W., unjustly parodied: "Grab Bag & Walk") issued Debenture B bonds which rank after the company's common stock. Authorized common stock of the Canadian National R. R. Co. totals $180,424,327.70. It is represented by one certificate, made out in the name of His Majesty, George V of England...