Imágenes de páginas
PDF
EPUB
[blocks in formation]

Capital stock, preferred, par value, issued in exchange for $91,600, par value of capital stock, common, of The Virginia Midland Railway Company.

Capital stock, preferred, par value, issued in exchange for $499,000, par value of first-mortgage, 5 per cent bonds of the Danville and Western Railway Company, a company whose control was vested in the Southern___

Capital stock, preferred, par value, issued in payment of past-
due interest on Richmond and West Point Terminal Rail-
way and Warehouse Company 6 per cent collateral-trust
bonds...

First consolidated mortgage 5 per cent bonds, par value, issued
in payment of past-due interest on The Richmond and Dan-
ville Railroad Company debenture 6 per cent income bonds.
Capital stock, preferred, par value, issued in payment of past-
due interest on The Richmond and Danville Railroad Com-
pany consolidated-mortgage 5 per cent bonds.---.
First consolidated mortgage 5 per cent bonds, par value, issued
in payment of past-due interest on The Richmond and Dan-
ville Railroad Company receiver's certificates.----
Capital stock, preferred, par value, issued in payment of past-
due interest on East Tennessee, Virginia and Georgia Rail-
way Company first-extension, 5 per cent mortgage bonds___
Capital stock, preferred, par value, issued in payment of past-
due interest on East Tennessee, Virginia and Georgia Rail-
way Company general-mortgage, 5 per cent bonds....
First consolidated mortgage 5 per cent bonds, par value, issued
in payment of past-due interest on East Tennessee, Virginia
and Georgia Railway Company equipment and improve-
ment 5 per cent bonds...

Capital stock, preferred, par value, issued in payment of past-
due interest on Charlotte, Columbia and Augusta Railroad
Company second-mortgage 7 per cent bonds...
Capital stock, preferred, par value, issued in payment of past-
due interest on Charlotte, Columbia and Augusta Railroad
Company consolidated first-mortgage 6 per cent bonds.___

115541°-32-37 VAL. REP.———— -16

64, 120. 00

548, 900. 00

143, 955. 00

589, 400.00

574, 927. 50

73, 823. 40

19, 693. 94

133, 344. 06

508, 130. 00

52, 500. 00

73, 800. 00

Capital stock, preferred, par value, issued in payment of past

due interest on Columbia and Greenville Railroad Company
first-mortgage 6 per cent bonds___.

Capital stock, preferred, par value, issued in payment of past-
due interest on Georgia Pacific Railway Company first-
mortgage 6 per cent bonds..

First consolidated mortgage 5 per cent bonds, $643,000 par
value, transferred back to the Southern for which the Rich-
mond Terminal reorganization committee received credit in
open account__.

Net discount suffered in the sale of securities:
Discount on capital stock, common....
Discount on capital stock, preferred...
Discount on first consolidated mortgage

5 per cent bonds..

Discount on East Tennessee reorganiza-
tion 4 and 5 per cent bonds

$23, 215, 887. 50

5, 850, 083. 73

2, 499, 713. 75

3, 000. 00

$100, 000. 00

283, 095. 00

643, 000. 00

[blocks in formation]
[ocr errors]

Balance of securities that were left to be used
în retiring securities of the reorganized
companies:

Capital stock, common, par value...............
Capital stock, preferred, par value____
First consolidated mortgage 5 per cent
bonds, par value..

East Tennessee reorganization 4 and 5
per cent old bonds, par value___

92, 082, 300. 00
41, 729, 274. 50

12, 819, 646. 60

4, 484, 500. 00

151, 115, 721. 10

It was not completely determined how the above-mentioned securities were disposed of by the Richmond Terminal reorganization committee. Such information as was obtainable regarding their disposition will be given later on in this chapter.

The reorganized companies had securities outstanding at their demise in the par value of $295,881,344.18. Of this amount, $64,307,056.62 were treasury assets, $15,346,469.81, not specified in the plan of reorganization, were retired by the Richmond Terminal reorganization committee through the payment of cash and the issuance of securities, $143,000 were retired by the Southern through

the payment of cash and $47,595,322.87 were assumed by that company, leaving a balance of $168,489,494.88 to be exchanged for securities in the hands of the Richmond Terminal reorganization committee.

The Richmond Terminal reorganization committee received cash, from the sale of securities, as heretofore stated, from assessments made against the holders of securities of certain of the reorganized companies, as specified in the plan of reorganization, and from other sources. With the cash obtained disbursements were made incident to the reorganization, and in accordance with the plan of reorganization, and also for the physical property not mentioned in the plan of reorganization, including that acquired from the Atlanta and Florida Railway Company, and for securities of other companies whose physical property was not vested in the Southern. A detailed summary of these receipts and disbursements as stated in the records of the Richmond Terminal reorganization committee follows:

Receipts:

From the sale of securities, issued by the Southern_...
Assessments, penalties, interest, etc., col-

lected on capital stock—

Richmond and West Point Terminal

Railway and Warehouse Company
and East Tennessee, Virginia and
Georgia Railway Company...
Western North Carolina Railroad
Company (No. 3).

$12, 073, 905. 02

$8, 175, 336. 64

62, 124. 00

8, 237, 460. 64

9, 610, 000. 00 54, 573. 11

Notes issued by the Richmond Terminal reorganization
committee, disposed of for cash____.

Income from bank balances and investment securities____
Profit realized from stock of predecessors of the Southern,

purchased and resold..

Sale of investment securities which were assets of prede-
cessors of the Southern_..

Interest paid on bonds of predecessors of the Southern
refunded to the Richmond Terminal reorganization com-
mittee...

--

Amount received to adjust the difference in exchanging old
securities for new...
Distribution on $576,000, par value Richmond and West
Point Terminal Railway and Warehouse Company
bonds.....

Amount received to adjust Richmond Terminal reorganiza-
tion committee account with J. P. Morgan and Company.
Amount handled on the committee's books in account
styled, Southern Railway Company-

Amount received from Maryland
Trust Company to adjust difference
in the exchange of bonds of the
Charlotte, Columbia and Augusta
Railroad Company..

37 Val. Rep.

$87.50

4, 467. 50

107, 929. 88

95, 941. 11

939.87

1, 544. 49

775. 92

Receipts-Continued.

Amount handled on the committee's books in account

styled, Southern Railway Company-Continued.
$32,000, par value, of the Richmond
and Danville Railroad Company
equipment 5 per cent bonds and
$38,000, par value, Georgia Pacific
Railway Company equipment 6
per cent bonds paid by the
Southern....

$65, 360. 00

$65, 447.50

Interest accrued on the Southern's first consolidated mortgage 5 per cent bonds at date of sale by the Richmond Terminal reorganization committee___.

Profit realized from purchase and sale of 100 shares of capital stock of Southwestern Railroad of Georgia__ Proceeds from sale of $48,500, par value, of Southern Railway Company in Mississippi capital stock.-

Total...

Disbursements:

Amount paid for property of the Atlanta and Florida Railway Company..

Amount paid for property of predecessors of the Southern

at foreclosure sale...

Purchase of real estate__

Liquidation of miscellaneous liabilities of receivers_---
Printing, engraving bonds, advertising, recording fees, etc.
Amount paid in settlement of miscellaneous judgments_-_
Amount expended in retiring receiver's certificates..
Amount paid for past-due interest on bonds__
Amount paid for interest on past-due interest..

Amount paid for commissions, legal and other services, and
incidentals. ---

Amount expended in retiring bonds of predecessors of the
Southern____

Amount expended in acquiring capital stock of predecessors of the Southern___.

138, 679. 16

668. 75

10, 000. 00

3, 402, 332.95

402, 014. 33

349, 000. 00

74, 087. 98

416, 991. 77 157, 044. 14 174, 365. 17 2,288, 071. 28 1, 479, 062. 70 33, 548. 68

753, 224. 98

306, 573. 61

8, 500. 87 5,019, 034. 28

Amount expended in retiring collateral notes of predecessors

of the Southern__.

Amount paid for past-due interest on notes and certificates of indebtedness_

Amount paid for assessments, etc., on stock owned of Richmond and West Point Terminal Railway and Warehouse Company, Western North Carolina Railroad Company (No. 3), and East Tennessee, Virginia and Georgia Railway Company...

Expenses incident to the sale of miscellaneous assets to
make title clear____.

Amount expended in settlement of miscellaneous claims.__
Purchase of East Tennessee, Virginia and Georgia Railway
Company-Cincinnati Extension Bonds.............

594, 976. 24

28, 000. 00

2,209. 65 126, 693. 34

1, 055, 325. 33

Disbursements-Continued.

Amount expended for taxes..........

Loss resulting from purchase and sale of bonds of predecessors of the Southern___.

Amount paid on the purchase price of the Knoxville, Cum-
berland Gap and Louisville Railway Company securities
for the Southern_-_.

Amount paid to reduce the interest rate on $394,000, par
value, of The Richmond, York River and Chesapeake
Railroad Company bonds from 5.5 per cent to 5 per cent.
Amount expended in retiring notes issued by the Richmond
Terminal reorganization committee____

Amount paid for interest on notes issued by the Richmond
Terminal reorganization committee___.
Amount paid Thomas and Ryan, the reorganization com-
mittee, who organized the Central of Georgia Railway
Company, incident to the Macon and Northern Railway
Company (predecessor of Central of Georgia Railway
Company) matters, to perfect the title to the ownership
of the stock, $5,000,000 par value, of the Central of
Georgia Railway Company---

$2,097. 42

1, 371. 25

243, 673. 41

21, 308. 64

9, 135, 000. 00

81, 667. 52

110,000. 00

Assessments on The Richmond and Danville Railroad
Company bonds owned_____

Amount paid in settlement of miscellaneous unsecured liabilities...

182, 279. 26

Amount paid in settlement of past-due vouchers and pay rolls..

455, 144. 50

6. 00

102, 038. 66

10, 121. 00

33, 275. 00

1,000. 20

Amount paid at auction sale for release of pledged securities. Amount paid at auction sale for release of miscellaneous assets....

Interest paid on first consolidated mortgage 5 per cent

bonds of the Southern----

Amount paid for express on bonds----.

Amount paid for the receiver's assets of the Tennessee
Valley Railroad Company.......

Amount loaned to Henry Crawford for Chicago & South
Eastern Railway Syndicate----.

Amounts deposited to the credit of the general account of
the Southern with J. P. Morgan & Company and mis-
cellaneous payments made and charged to an account
styled, Southern Railway Company, on the Richmond
Terminal reorganization committee's books-

Amount loaned to purchase one-half
interest in Charlotte, N. C., compress-
Cash deposited to the credit of the
Southern___.

Interest on $1,000,000 first consolidated
mortgage 5 per cent bonds accrued to
date acquired from the Southern for
cash.....

Interest on $828,000 first consolidated
mortgage 5 per cent bonds accrued to
date acquired from the Southern____

$12,000. 00

3, 050, 000. 00

9, 722. 22

8,050.00

40, 000. 00

20, 036. 79

« AnteriorContinuar »