Excerpt from Holders of Railroad, Bonds and Notes; Their Rights and Remedies: Treating Particularly of the Receivership and of the Reorganization of the Road, of the Foreclosure of the Mortgage and of the Other Proceedings to Realize on the Security It is fairly safe to say that the great majority of the holders of railroad bonds and notes never read their securities nor the mortgage that secures them. It is only when the railroad company, whose securi ties they hold, becomes insolvent or defaults that they seek advice as to their rights. Then, quite gen erally, for the first time, they ask for a better under standing of the nature of their securities; of their rights as to the other creditors and the property of the road; of their probable relations with their trus tee, the receiver, and the reorganization committee. The foreclosure and the receivership, that usually follow the insolvency of a railroad company, and the reorganization of the road, that is invariably attempted, present many situations that affect its security-holders, of which they should have at least a fair understanding. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.