. Book of the Royal blue . y. They proposed torehabilitate the property, to regain the traffic thathad been lost, ami to carry out the improvements:iv lo reduce the cost of transportation. Thisrequired ample binds, capable in a I lagemelll and time. Ihe funds were obtained through receivers cer-tificates, which have been issued in the extraordi-nary amount of over $10,1 ,000. I his has in-volved ihe bringing of a new principle into railroad-hips, and contests with powerful bankinginterests representing bondholders who saw in iv)charges being constantly put ahead of their for needed
. Book of the Royal blue . y. They proposed torehabilitate the property, to regain the traffic thathad been lost, ami to carry out the improvements:iv lo reduce the cost of transportation. Thisrequired ample binds, capable in a I lagemelll and time. Ihe funds were obtained through receivers cer-tificates, which have been issued in the extraordi-nary amount of over $10,1 ,000. I his has in-volved ihe bringing of a new principle into railroad-hips, and contests with powerful bankinginterests representing bondholders who saw in iv)charges being constantly put ahead of their for needed improvements are general!] pro-vided at the time of reorganization. In the Balti-more .\ Ohio case they were provided before thatevent, and the bondholders received their interest,always within the limit allowed for default sure, until the present year when the time wasripe for reorganization. Certainh ill has aniplv justified thi With the court standing by them, believittheir policy, and ready to authorize the raising of. 1 V • - • •; * ■; cor *2_ such moni is ■ is needed, the receive!way cleai tii gii ihead. I lu\ first galthem the ablest and operai ers thai available. No question of wagesfered with securing whoever seemed to be the rightmen. I he effect was seen in i I il and steady increasi of traffic, which was soon crovthe tracks and being carried easily and without thosedelays w hit h had pre> ii iu slj bei n « it m ised with aolume of traffic, [n the meantime thi medianlepartmenl was bus) ovi the equip- iiiciii, and putting in service cars and engines which had long si I dli on the tracks, and the engineers were preparing plans for all sorts of im-pn, ements. Only an incomplete summarj of whatdone in the provements is now possible. ible givi n bi lo i shows the extent of thiin the repair and mainti i ack, on the i em lines, during 1896 and 1897. [hiplished ! o, 1897, of 1 out 1 appeal in these figures: ISM 1891 ol 2d. 8d and 4th track bulll
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Keywords: ., bookauthorbaltimoreandohiorailr, bookcentury1800, bookdecade1890
