[418] Chron. 47:472, 1888. The use of $3,000,000 of the notes was specifically deferred.
[419] Ry. Age, 14:644, 1889.
| Cash requirements were (Circular No. 63, Oct. 15, 1889): | ||
| To retire outstanding lease warrants | $1,445,660 | |
| To expend on incomplete construction of existing lines, and for new equipment as required | 5,000,000 | |
| To pay floating debt | 3,554,340 | |
| $10,000,000 | ||
| And the provision for cash subscription was | ||
| General mortgage 4s | $12,500,000 | |
| Income 5s | 1,250,000 | |
| $13,750,000 |
[421] The income bond certificate is printed in full in W. A. Wood, Modern Business Corporations, pp. 237–9.
[422] Ry. Age, 14:682, 1889.
[423] Annual Report, 1890. Economies were secured at this time through consolidation of branch lines with the main stem and in other ways.
[424] Annual Report, 1891.
[425] Chron. 51:171, 1890.
[426] Ibid. 53:474, 1891.