In 1889, the Supreme Court awarded the Company arrears of interest.
2.
Arrears of interest were funded into 3 % stock.
3.
Was over-capitalised, in order to pay off the arrears of interest and otherwise provide for the indebtedness of the amalgamated companies.
4.
Instead a financial reconstruction was arranged, in which many shareholders received reduced holdings and debenture holders lower interest rates; arrears of interest were cancelled.
5.
Certificates of indebtedness i . e . government war time debt had been paid with government securities at face value plus arrears of interest under the terms of Hamilton s First Report on the Public Credit.
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