The Pacific Railroads And the Relations Existing Between Them And the Government
The Pacific Railroads And the Relations Existing Between Them And the Government
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In our eReader you can find the full English version of the book. Read The Pacific Railroads And the Relations Existing Between Them And the Government Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book The Pacific Railroads And the Relations Existing Between Them And the Government
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To quickly assess the difficulty of the text, read a short excerpt:
" ********** * ;;s ^' The Government made its contract and bargained for its se- curity. It had a first lien on the road by the original act of incor- poration, wliich would have made its loan safe in any event. But in its anxiety to secure the construction of the road, an end more important to tbe Government than to any one else, and still more important to the people whom it represented, it postponed this lien t) another mortgage, that the means might be raised to complete it. The Government ...has the second lien, however, audit has the riglit to appropriate one-half of the price it pays for the use of the road a very large sum annually, and five per cent, of the net earnings of the road, which may become larger, to the extinction of this debt. It is not wholly unreasonable to suggest that the amount which the company may be compelled to pay annually, under these two pro- visions, will be sufficient as a sinking fuLd to pay the entire debt, principal and interest, before it falls due.
What to read after The Pacific Railroads And the Relations Existing Between Them And the Government?
You can find similar books in the "Read Also" column, or choose other free books by Henry Varnum Poor to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
" ********** * ;;s ^' The Government made its contract and bargained for its se- curity. It had a first lien on the road by the original act of incor- poration, wliich would have made its loan safe in any event. But in its anxiety to secure the construction of the road, an end more important to tbe Government than to any one else, and still more important to the people whom it represented, it postponed this lien t) another mortgage, that the means might be raised to complete it. The Government ...has the second lien, however, audit has the riglit to appropriate one-half of the price it pays for the use of the road a very large sum annually, and five per cent, of the net earnings of the road, which may become larger, to the extinction of this debt. It is not wholly unreasonable to suggest that the amount which the company may be compelled to pay annually, under these two pro- visions, will be sufficient as a sinking fuLd to pay the entire debt, principal and interest, before it falls due.
What to read after The Pacific Railroads And the Relations Existing Between Them And the Government?
You can find similar books in the "Read Also" column, or choose other free books by Henry Varnum Poor to read onlineMoreLess
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