. North Dakota history and people; outlines of American history. out abond issue. The company became its own banker while waiting for a favorablemarket to be created. The stockholders temporarily renounced their profits inorder to leave their money in the enterprise. But it remained their money, andtheir title to it was indisputable. It was costing now very much more than$12,000 a mile to build a substantial track. In all, about $11,000,000 of profitswere put into new construction and betterments. The stockholder of that dayexpected these profits to be distributed. His right to them was sancti
. North Dakota history and people; outlines of American history. out abond issue. The company became its own banker while waiting for a favorablemarket to be created. The stockholders temporarily renounced their profits inorder to leave their money in the enterprise. But it remained their money, andtheir title to it was indisputable. It was costing now very much more than$12,000 a mile to build a substantial track. In all, about $11,000,000 of profitswere put into new construction and betterments. The stockholder of that dayexpected these profits to be distributed. His right to them was sanctioned bypublic opinion as well as by custom and law. It was recognized in 1883. In that year the credit foundation of the company was broadened and itsmethods systematized by the authorization of $50,000,000 consolidated mort-gage bonds. Of this amount, $19,426,000 were reserved to retire prior bonds,$10,574,000 were to be issued immediately and the remaining $20,000,000 were tobe issued only on the construction thereafter of additional track at the rate of not.
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Keywords: ., bo, bookcentury1900, bookdecade1910, bookidnorthdakotahisto01loun
