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Updated: June 18, 2025
As the train was to be a light one, consisting of a buffet-car and a parlor-car, the party could not be very large. The officers of the road, Mr. Adams, who was general traffic manager, and selected by the bondholders, and Mr. Kittrick, the general manager, who was found in Kansas City by Jim, went down first as a matter of course.
"Well, you write to him. Give him a sort of commission to see the English bondholders, and explain the situation. They will appreciate that half a loaf is better than no bread. What bothers me is the way the American bondholders take it. They kick." "Let 'em kick. The public don't care for a few soreheads and impracticables in an operation that is going to open up the whole Southwest.
Fyshe, "do you think that quite fair to the bondholders? After all, as the virtual holders of the property, they are the persons most interested. I should like to amend your clause and make it read I am not phrasing it exactly but merely giving the sense of it that eternal punishment should be reserved for the mortgagees and bondholders."
Again a halt came. Russell Sage and his associates in control had once more looted the treasury. The Dutch bondholders, through their agent, John S. Kennedy, a New York banker, applied for a receiver, and in 1873 one Jesse P. Farley was appointed by the court. It seemed that the angry settlers might whistle in vain for their road.
The State occupies the same position to-day toward the bondholders that the city of Calais did, when besieged by Edward III, toward its notables. The English conqueror consented to spare its inhabitants, provided it would surrender to him its most distinguished citizens to do with as he pleased.
He declared with energy that no power of heaven or hell could bind him to pay these bonds. The contract was one of bayonet usurpation. Within a few days the legislature had loaded the State down with from ten to fifteen millions of the "bogus bonds." The term "repudiation" was distasteful to many. The bondholders did not relish it; but he thought it was a good honest word.
That year saw the institution of the "Caisse de la Dette," with power to receive the revenue set aside for the service of the debt, and to sanction or forbid new loans; and in the month of November 1876 the commission of bondholders took the form of the "Dual Control." In 1878 a Commission was appointed with power to examine the whole of the Egyptian administration.
I bought them at eighty, and they were worth two hundred; at least, they would have been worth two hundred under my management " "How did you manage to buy them so cheap?" she interrupted. "Old Cardigan had had a long run of bad luck due to bad management and bad judgment, my dear and when a corporation is bonded, the bondholders have access to its financial statements.
The company, looted into insolvency by fraudulent construction company contracts, was reorganized as the St Paul and Pacific, heir to the old company's assets but not to its liabilities, and a beginning was made once more. Trusting Dutch bondholders lent over twenty millions, and by 1871 the road reached Breckenridge on the Red River, two hundred and seventeen miles from St Paul.
Bland was willing to accept the Senate amendments and then pass a supplementary measure for free coinage on an appropriation bill. He added: "If we cannot do that I am in favor of issuing paper money enough to stuff down the bondholders until they are sick." Mr.
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