Somewhat a relief on both sides of the Atlantic, then, was the period 1861 1867, when the railroad managed to cut its funded debt roughly in half from $ 11, 819, 400 to $ 5, 902, 300.
22.
Funded debt in the form of a first mortgage with five percent gold bonds, authorized, was valued at $ 3, 250, 000 dated on March 1, 1896, and due in 1946 to the Guaranty Trust Company of New York City.
23.
Net earnings were $ 189, 905 with outstanding capital stock of $ 1, 325, 000 with funded debt on 30-year $ 1, 000 bonds due on March 1, 1909 . The treasurer's address was Grand Central Depot in New York City.
24.
The last report of this company for the period from July 1, 1891, to May 17, 1892, showed securities outstanding to the amount of $ 3, 200, 000, of which $ 1, 000, 000 was capital stock and $ 2, 200, 000 was funded debt.
25.
It indicated the corporation's funded debt as US $ 65 million, resulting in US $ 5.5 million annually in carrying charges, compared to just over US $ 3 million in earnings for the railroad and a US $ 600, 000 loss for the Coal & Iron Co.
26.
The St . Louis Tunnel Railroad Company and its lessee, the Illinois and St . Louis Bridge Company ( No . 2 ) defaulted in payment of interest on its funded debt and on May 31, 1875, J . P . Morgan and S . Humphreys were appointed receivers.
27.
The funded debt for a first mortgage at five percent gold bonds was $ 500, 000, dated March 1, 1899, and due in 1949 . The company also had a second mortgage at six percent gold bonds for $ 150, 000, dated July 1, 1901, and due in 1931.
28.
The income was included in the operating income of the Big Four and the interest paid on the funded debt of the Peoria and Eastern was reported to us by the Big Four as rent for leased road and by the Peoria and Eastern as income from lease of road.
29.
The company issued $ 600, 000 par value of funded debt and incurred non-negotiable debt of $ 30, 842.33 as shown by the records of the St . Paul, all of which were assumed by the Chicago and Superior Railroad Company in the acquisition of the property of this company.
30.
On January 1, 1913, it opened a new set of records, general ledger and general journal, by recording therein the liabilities for its capital stock and its funded debt outstanding at that date, in the par value of $ 7, 002, 997.45 and charging the investment account with a like amount.
