DIY History | Transcribe | Building the Transcontinental Railroad | Hazard versus Thomas C. Durant legal draft report, Providence, R.I., September, 1880

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Hazard versus Thomas C. Durant legal draft report, Providence, R.I., September, 1880

Page 14

stated to have been paid in stock of the Rail Road Company at $40 per share, - equal to 75 per cent in stock @ par, - instead of 30 per cent cash, as entered in the draft report. - The evidence shows that it was thus paid in stock,though it is usually stated as a cash dividend, which led to the error in the report.
The restatement therefore of the amount with which I find Mr. Durant chargeable with interest at 7 per cent to Sept 17th 1880 the date of this report is as follows=
1864 Nov. 24    For amount received for purchase of charter                         Interest

                                                                                       46.000            53029.67

1865 Mar 10 average date For amount received on account of subscriptions

                                      under agreement of October 7- 1864   390475      424196.60

1864 Nov 9                  Amt. recd.under [Hopie?] Contract from

                                           R.R. Co [a/c?] profits                    136.000     150944.99

1865 Mch 20       --    Do   Do from Credit Mobilier a/c profits        308000      335856.65
Aug 15               --     Do   Do           Do                                    168894.45   178369.07
---    ---               --     Do    Do          Do                                       13000 --    13730.89
1866 Dec 31       --     Do   on Suspense account                            5500 --      5279.85
1867 Mch 21      --     Do    --               Do                                     30000 --    28332.50

                                                                                                __________________
                                                                                         $1,097,849.45 1,189,740.22

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stated to have been paid in stock of the Rail Road Company at $40 per share, - equal to 75 per cent in stock @ par, - instead of 30 per cent cash, as entered in the draft report. - The evidence shows that it was thus paid in stock,though it is usually stated as a cash dividend, which led to the error in the report. The restatement therefore of the amount with which I find Mr. Durant chargeable with interest at 7 per cent to Sept 17th 1880 the date of this report is as follows= 1864 Nov. 24 For amount received for purchase of charter Interest 46.000 53029.67 1865 Mar 10 average date For amount received on account of subscriptions under agreement of October 7- 1864 390475 424196.60 1864 Nov 9 Amt. recd.under [Hopie?] Contract from R.R. Co [a/c?] profits 136.000 150944.99 1865 Mch 20 -- Do Do from Credit Mobilier a/c profits 308000 335856.65 Aug 15 -- Do Do Do 168894.45 178369.07 --- --- -- Do Do Do 13000 -- 13730.89 1866 Dec 31 -- Do on Suspense account 5500 -- 5279.85 1867 Mch 21 -- Do -- Do 30000 -- 28332.50 __________________ $1,097,849.45 1,189,740.22