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Method Used by the Railroad Commission, of Texas, Under the Stock and Bond Law, In Valuing Railroad Properties.
The issuance of all kinds of railroad securities in Texas is regulated by the Railroad Stock and Bond Law, and the execution of its provisions is under the jurisdiction of the Railroad Commission. In this matter, Texas is the pioneer of the States of the Union, no other State within the knowledge of the writer, having legislated upon the subject to the extent of having prescribed a fixed basis of value beyond which the railroads cannot increase the indebtedness to be secured by mortgage or lien upon their property. The law of Texas, in addition to controlling and regulating absolutely the issuance and execution of all stocks and bonds of railroads, defines the method which must be used by the Railroad Commission in arriving at the proper value of the properties, which shall serve as the basis for such issuance.
Method Used by the Railroad Commission, of Texas, Under the Stock and Bond Law, In Valuing Railroad Properties.
The issuance of all kinds of railroad securities in Texas is regulated by the Railroad Stock and Bond Law, and the execution of its provisions is under the jurisdiction of the Railroad Commission. In this matter, Texas is the pioneer of the States of the Union, no other State within the knowledge of the writer, having legislated upon the subject to the extent of having prescribed a fixed basis of value beyond which the railroads cannot increase the indebtedness to be secured by mortgage or lien upon their property. The law of Texas, in addition to controlling and regulating absolutely the issuance and execution of all stocks and bonds of railroads, defines the method which must be used by the Railroad Commission in arriving at the proper value of the properties, which shall serve as the basis for such issuance.
Method Used by the Railroad Commission, of Texas, Under the Stock and Bond Law, In Valuing Railroad Properties.
Thompson, R. A. (author)
Transactions of the American Society of Civil Engineers ; 52 ; 328-345
2021-01-01
181904-01-01 pages
Article (Journal)
Electronic Resource
Unknown
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