[PRCo] Re: Generic Description

[Derrick Brashear]

On Sun, May 22, 2011 at 11:12 AM, Edward H. Lybarger <trams2 at comcast.net> wrote:
> The number is 621.33 -- Electric Railways.
>
> And I'd like to remind that there are other parts of the collection that are
> of equal or greater importance than the photos...those documents which
> explain how the trolley company was a business and operated accordingly.  Or
> how the trolley company encumbered itself with so many liabilities up front
> that it could have never been financially successful.  Think nickel fare,
> for example...they became very beholden to local government for the
> franchise grant and the guaranteed nickel fare, but this occurred at a time
> when inflation was non-existent.  Fifteen years later, when it was a big
> issue, the trolley company was trapped.  Another bit of genius involved
> never writing off all the capital costs of the horsecar and cable lines and
> then issuing watered securities backed by those "assets."  When they needed
> to raise capital in the early part of the 20th Century, they couldn't,
> because of tricks like this and because of the lack of earning power.
>
> No photo library will tell you these things!

Sure. Those things properly deserve to be scanned also.
But you know that's my answer to everything.

Derrick



-- 
Derrick