File:The Street railway journal (1894) (14755379621).jpg

Identifier: streetrailwayjo101894newy (find matches)
Title: The Street railway journal
Year: 1884 (1880s)
Authors:
Subjects: Street-railroads Electric railroads Transportation
Publisher: New York : McGraw Pub. Co.
Contributing Library: Smithsonian Libraries
Digitizing Sponsor: Smithsonian Libraries

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Text Appearing Before Image:
THE STREET RAILWAY JOURNAL. (Vol. X. No. 2 J. W. FOWLER CAR CO.
Text Appearing After Image:
WORKS AND GENERAL OFFICE,ELIZA BETH PORT, N. J.NEW YORK OFFICE, HAVEMEYER BUILDING. February, 1894. J THE STREET RAILWAY JOURNAL. r47 the financial condition of the company presented by President Hurt.The bondholders prepared an agreement, to be signed by 90 per cent,of the bondholders and shareholders, providing for the cancellation ofthe entire floating debt, and a reduction of the rate of interest on thebonds. If the shareholders raise money to pay off the floating indebt-edness, the bondholders agree to accept 3 per cent, interest on theirbonds during 1894 and 1895, and during the balance of the life of thebonds they will accept 5 per cent. The shareholders are to be assessedfor the purpose of raising money to liquidate the floating indebtedness,and are to receive for the assessment income bonds. It is said thatthe holders of about 80 per cent, of the outstanding bonds have agreedto accept this proposition. The Scranton (Pa.) Traction Company submits the followingstatement of its

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