Railroad Reorganization by Stuart Daggett
CHAPTER X
CONCLUSION 334
Definition of railroad reorganization—Causes of the financial
difficulties of railroads—Unrestricted capitalization and
unrestricted competition—Problem of cash requirements—Problem of
fixed charges—Distribution of losses—Capitalization before and
after—Value of securities before and after—Provision for future
capital requirements—Voting trusts—Summary.
RAILROAD REORGANIZATION