Author: Charles Gordon

Publisher: Forgotten Books

Published: 2017-01-23

Total Pages: 940

ISBN-13: 9780243130849

Excerpt from Electric Railway Journal, Vol. 67: May 1, 1926-June 26, 1926 The Pittsburgh Railways furnishes an example of this kind. That company, for instance, came out of receivership with much the same myriad of separate companies that went in, but that company, continuing the plan of eliminating subsidiary corporations where practicable, closed out or merged last year with other subsidiaries sixteen companies. Moreover, the process of retiring bonds is being kept up unremittingly. Dur ing 1925 sinking fund retirements totaled bond retirements and total redemptions Doubtless there are other similar instances, but this one comes to mind in connection with the work of digesting the report of the company for publication in a recent issue of the journal. It will not do to dismiss the matter by saying that Pittsburgh is now operating under an agreement that insures to it favorable terms for financing. Many elec tric railways enjoy an excellent credit rating. They enjoy it because they deserve it. All of them should. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.