Crooked By-Ways and Slippery High-Ways Traversed by the Directors of the St. Paul and Duluth Railroad Company, Trustee baixar o livro de graça

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1886 edition. Excerpt: ... SUSPENSION OF A CONTRACT PERMISSIBLE TO A MAJORITY. From the R. R. Record, of May 24, 1886. St. Paul and Duluth Meeting. We publish in another column the official notice of the annual meeting of the stockholders of the St. Paul and Duluth Railroad, to be held at St. Paul, on the 2ist proximo, for the election of directors, and for considering a proposed temporary change in the application of the net income, etc. The proposed temporary change in the application of the net income is fully set forth in a separate notice, and is, briefly, to suspend, for a time, so much of the plan of re-organization as provides for the purchase or drawing of preferred stock, and, instead, apply the net proceeds from lands and stumpage, not required in paying dividends on preferred stock, to improvements, additions and betterments, so long as may be necessary......... The directors desire to temporarily use the surplus income from lands and stumpage in making the improvements they deem necessary for the more economical operation of the road and the increase of its earnings, instead of applying it to the reduction of the preferred stock. While capital is so greatly needed by the company, it would seem wise to retain that which it has, and the stockholders will doubtless sustain the directors in this view, As Well As In The More Equitable AdJustment OF THE DIVISIBLE INCOME PROPOSED. St. Paul and Duluth Annual Meeting. June 21, 1886. THE TRAP IS SPRUNG: BUT IT CATCHES THE TRUSTEE-DIRECTORS. PROTEST OF COMMON STOCKHOLDERS. We, the undersigned, holders of common stock in the St. Paul and Duluth Railroad Company, do, and do hereby object to and most earnestly protest against the adoption or approval by the stockholders of the said railroad company of the resolutions, or...