Illinois River Railroad Chief Engineers Report Presenting Characteristics of
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And for the purpose of further and more effectually securing the payment of said 1320 bonds, together with the in- terest due or to grow due thereon, that said ILLINOIS RIVER RAIL- ROAD COMPANY, the party of the first part hereto, and its success- ors, shall and will pay or cause to be paid, as hereinafter men- tioned, to the said Importers and Trader^ Bank^ in said city of New York, to the credit of its " Permanent Treasurer" in said 74: city, the entire net earnings and receipts of its said R...ailroad, at the time, in the manner, for the purposes, and as provided in and by a certain agreement or running arrangement, made by said party of the first part hereto with the Chicago and Rock Island Railroad Company, bearing date on or about the 27th day of September, A. D. 1858 ; and that said agreement or running ar- rangement, so made, as last aforesaid, while, and so long as any of said 1320 bonds are outstanding, or unredeemed, or unpaid, shall not be annulled or abrogated, nor altered, changed, or in any manner modified, so as to diminish or otherwise to divert or afiect the payment of said net earnings and receipts to said Im- porters and Traders' Bank, to the credit of said " Permanent Treasurer, " as now provided therein, unless the consent in writ- ing thereto of said parties of the second part hereto, or of the survivors or survivor of them or their or his successors or suc- cessor, shall be first had and obtained ; and further, that said ILLI- NOIS RIVER RAILROAD COMPANY, the party of the first part hereto, and its successors, shall and will create and maintain, with and out of the jiet earnings and receipts of its railroad, so to be paid over to the said Importers and Traders'' Bank, to the credit of its " Permanent Treasurer, " in the City of New York, two funds ; one to be denominated a " DEPRECIATION FUND, " and the other a SINKING FUND ; that ten per cent, of said annual net earnings and receipts shall be annually set apart and held by said " Permanent Treasurer" as and for said Depreciation Fund, to be used and ap- plied by him in keeping the rails and ties of said railroad in con- stant and safe working order, and also in meeting any extraordi- nary outlay in repairs of the track, bridges and trestle work con- nected with or belonging to said railroad, and which may have been occasioned by unforeseen accidents or casualties and that the first payment or appropriation towards the creation of said Depreciation Fund shall be made on the first day of January, A.
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To quickly assess the difficulty of the text, read a short excerpt:
And for the purpose of further and more effectually securing the payment of said 1320 bonds, together with the in- terest due or to grow due thereon, that said ILLINOIS RIVER RAIL- ROAD COMPANY, the party of the first part hereto, and its success- ors, shall and will pay or cause to be paid, as hereinafter men- tioned, to the said Importers and Trader^ Bank^ in said city of New York, to the credit of its " Permanent Treasurer" in said 74: city, the entire net earnings and receipts of its said R...ailroad, at the time, in the manner, for the purposes, and as provided in and by a certain agreement or running arrangement, made by said party of the first part hereto with the Chicago and Rock Island Railroad Company, bearing date on or about the 27th day of September, A. D. 1858 ; and that said agreement or running ar- rangement, so made, as last aforesaid, while, and so long as any of said 1320 bonds are outstanding, or unredeemed, or unpaid, shall not be annulled or abrogated, nor altered, changed, or in any manner modified, so as to diminish or otherwise to divert or afiect the payment of said net earnings and receipts to said Im- porters and Traders' Bank, to the credit of said " Permanent Treasurer, " as now provided therein, unless the consent in writ- ing thereto of said parties of the second part hereto, or of the survivors or survivor of them or their or his successors or suc- cessor, shall be first had and obtained ; and further, that said ILLI- NOIS RIVER RAILROAD COMPANY, the party of the first part hereto, and its successors, shall and will create and maintain, with and out of the jiet earnings and receipts of its railroad, so to be paid over to the said Importers and Traders'' Bank, to the credit of its " Permanent Treasurer, " in the City of New York, two funds ; one to be denominated a " DEPRECIATION FUND, " and the other a SINKING FUND ; that ten per cent, of said annual net earnings and receipts shall be annually set apart and held by said " Permanent Treasurer" as and for said Depreciation Fund, to be used and ap- plied by him in keeping the rails and ties of said railroad in con- stant and safe working order, and also in meeting any extraordi- nary outlay in repairs of the track, bridges and trestle work con- nected with or belonging to said railroad, and which may have been occasioned by unforeseen accidents or casualties and that the first payment or appropriation towards the creation of said Depreciation Fund shall be made on the first day of January, A.
What to read after Illinois River Railroad Chief Engineers Report Presenting Characteristics of?
You can find similar books in the "Read Also" column, or choose other free books by Illinois River Railroad Company to read onlineMoreLess
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