The Sutro Tunnel Company And the Sutro Tunnel. Property, Income, Prospects, And Pending Litigation. Report to the Stockholders
The Sutro Tunnel Company And the Sutro Tunnel. Property, Income, Prospects, And Pending Litigation. Report to the Stockholders
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Amount of Claim for Principal, and for Simple and Compound Interest.
From figures furnished to me by the Secretary of the Company, it appears that, on July I, 1887, said claim would have stood as follows, viz. : Amount of the principal claimed under the mortgage (including advances made from time to time between February i, 1876, and Nov. 12, 1883). $997,862.52 Amount of simple interest at 12 per cent, per annum claimed as remaining unpaid July I, 1887 758,617.21 Balance of interest claimed on ...over-due installments of simple interest, also at 12 per cent 267,403.71 Making a total of $2,023,883.44 165 Digitized by VjOOQ IC 1 66 Sutro Tunnel Company.
to which the mortgagees laid claim, and for which, owing to the lack of a proper defense, they would undoubtedly have obtained a decree, had not the stockhold- ers intervened, in the manner hereinbefore briefly narrated.
It may be proper to add that, in case such decree had been entered and the property sold thereunder for said amount, even if the stockholders or others would have been inclined to redeem the property, they would be compelled, under the laws of the State of Nevada, to pay, in addi- tion to the aforesaid sum, and interest thereon at the rate of lo per cent, per annum, also a penalty of i8 per cent, on the whole amount, which, with the fees of the Receiver, expenses of the litigation and sale, costs, etc., would have swelled the total, which it would be necessary to raise in order to regain the property (after deducting the sum representing net in^ come, which in the mean time would have accumulated in the hands of the Receiver), Digitized by VjOOQ IC Amount of Claim.
What to read after The Sutro Tunnel Company And the Sutro Tunnel. Property, Income, Prospects, And Pending Litigation. Report to the Stockholders?
You can find similar books in the "Read Also" column, or choose other free books by Sutro Theodore to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Amount of Claim for Principal, and for Simple and Compound Interest.
From figures furnished to me by the Secretary of the Company, it appears that, on July I, 1887, said claim would have stood as follows, viz. : Amount of the principal claimed under the mortgage (including advances made from time to time between February i, 1876, and Nov. 12, 1883). $997,862.52 Amount of simple interest at 12 per cent, per annum claimed as remaining unpaid July I, 1887 758,617.21 Balance of interest claimed on ...over-due installments of simple interest, also at 12 per cent 267,403.71 Making a total of $2,023,883.44 165 Digitized by VjOOQ IC 1 66 Sutro Tunnel Company.
to which the mortgagees laid claim, and for which, owing to the lack of a proper defense, they would undoubtedly have obtained a decree, had not the stockhold- ers intervened, in the manner hereinbefore briefly narrated.
It may be proper to add that, in case such decree had been entered and the property sold thereunder for said amount, even if the stockholders or others would have been inclined to redeem the property, they would be compelled, under the laws of the State of Nevada, to pay, in addi- tion to the aforesaid sum, and interest thereon at the rate of lo per cent, per annum, also a penalty of i8 per cent, on the whole amount, which, with the fees of the Receiver, expenses of the litigation and sale, costs, etc., would have swelled the total, which it would be necessary to raise in order to regain the property (after deducting the sum representing net in^ come, which in the mean time would have accumulated in the hands of the Receiver), Digitized by VjOOQ IC Amount of Claim.
What to read after The Sutro Tunnel Company And the Sutro Tunnel. Property, Income, Prospects, And Pending Litigation. Report to the Stockholders?
You can find similar books in the "Read Also" column, or choose other free books by Sutro Theodore to read onlineMoreLess
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