Articles liés à The Life of James J. Hill, Volume 2

The Life of James J. Hill, Volume 2 - Couverture rigide

Pyle, Joseph Gilpin

 
9781341968617: The Life of James J. Hill, Volume 2

Synopsis


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Présentation de l'éditeur

Great Northern opened for business through to the Pacific coast. August 15, 1893, an application for the appointment of receivers was made by creditors of theN orthern Pacific, who alleged that the company was insolvent. Receivers were appointed; and in October of the same year the Farmers Loan and Trust Company, as trustees for the mortgagees, filed a bill for the foreclosure of the mortgages securing its second, third, and consolidated mortgage bonds. This was more than coincidence. The financing of one system had been as reckless as that of the other was prudent. The operation of the one was lacking where that of the other was strong. The competition for business between the two had for some time made its consequences felt. Not alone in the stock market is the money value of coming events discounted by a rise or fall based on calculations of what is about to happen. People who cared to know it knew now that the Great Northern could, if it wished, by virtue of its low capitalization, method of construction and system of management and operation, control through competitive business.
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