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Halaman 360 - IV. This constitution may be amended by a two-thirds vote of the members present at a regular meeting, provided the proposed amendment shall have the approval of two-thirds of the executive committee, and provided...
Halaman 315 - President is hereby authorized to appoint a commission to investigate questions pertaining to the issuance of stocks and bonds by railroad corporations, subject to the provisions of the Act to regulate commerce, and the power of Congress to regulate or affect the same; and to fix the compensation of the members of such commission.
Halaman 365 - All propositions for adding to or altering any of these ByLaws shall be laid before the Executive Committee, which shall bring them before the next regular meeting of the Association, if it shall consider such course desirable; and it shall be the duty of the Committee to do so, on the request, in writing, of any five members of the Association.
Halaman 363 - All papers read at the meetings of the Association must relate to matters connected with the objects of the Association and must have been previously approved by the Executive Committee. Affiliated Associations.
Halaman 332 - ... half per cent bonds, there is an apparent profit of one-half per cent annually on the transaction to the company and an apparent reduction in total charges which it must meet. But with any diminution in traffic, the bad effect of the change is at once obvious. The interest on the bonds remains a fixed charge against the company. The effect of a loss of dividends would have been felt chiefly by the individual stockholders; a default, or even a threatened default, of interest has an effect on the...
Halaman 317 - Commission impossible to escape the conclusion that these securities should be issued only under Governmental regulation. Your Commission, however, believes that the amount and face value of outstanding securities has only an indirect effect upon the actual making of rates and that it should have little if any weight in their regulation. In so far as the value of the property is an element in rate regulation the outstanding securities are of so little evidentiary weight that it would probably be...
Halaman xiv - EXECUTIVE COMMITTEE: PRESIDENT, VICE-PRESIDENTS and WILLIAM H. HAZZARD, Pres., Brooklyn City Railroad Co., Brooklyn, NY JAMES K. LAKE, Supt.. Chicago West Division Railway, Chicago 111. CHARLES J.
Halaman 146 - Each member shall be entitled to one vote, which shall be cast by the properly accredited delegate. b. Associate Members, consisting of individuals, co-partnerships and corporations, who are actively identified with...
Halaman 307 - We are told that if it was possible to standardize food by a pure food law, it ought to be possible to standardize railroad securities by a securities law. It is possible — to the same extent and no more. The pure food law enables a man to know what he is buying. It does not certify that the thing he buys is good for him. That is left to his intelligence. The government cannot protect the investors against the consequences of their unwisdom in buying unprofitable bonds, any more than it can protect...