Publisher's Synopsis
Excerpt from Annual Report of the Commissioner of Railroads and Telegraphs, for the Year 1870, Vol. 2 of 2: Containing Returns of Railroad and Telegraph Companies of the State, for the Year Ending June 30th, 1870, With Tabulated Statements, Etc
However, in illustration of the manner and extent of increase in the capital stock of many companies in the State, the following statements have been prepared as to the increase of the capital stock of the Cleve land, Painesville and Ashtabula, Cleveland and Toledo, and Cleveland, Columbus and Cincinnati Railroad Companies, over the amount originally fixed by charter - the increase having been made from time to time, doubtless, in strict accordance with legislative provisions. In these state ments the original amount of capital, as fixed in the charters of the com panics respectively, is given, and the various subsequent increases added, the increases by and Subsequent to consolidations being pro rated to the original companies composing the consolidated company.
The statements may not be strictly accurate, but are sufficiently so to illustrate the subject, and to call attention to the facility with which capi tal stock may be increased from time to time, according to law, and the power given to the Legislature, by the charters or the act of February to revise rates may be entirely defeated. [see section 12 of said act, page 19, vol. I.] Whether these several increases have inured to the benefit of the original stock, or to what extent, can only be known to the stockholders themselves.
By the same rule, adopted in the three cases given, the increase or de crease of the stock of any company in the State can be ascertained from the history. And present amount of stock reported, found in volume one of this report.
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