Railroaded

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According to the best estimates of accountants who later examined the Central Pacific's books, Crocker and Company had received $13,657,624.70 in securities and cash, while the Contract and Finance Company had received $32, 615,452. These figures represented the discounted value of stock. In the case of Crocker & Company, the par value of the stock was $14,701, 710.22 and in the case of the Contract and Finance Company $23,726,000. The discounted value of the Crocker & Co. stock was $5,121,609; it was all turned over to the Contract and Finance Company. The accountants put the discounted version of stock held by the Contract and Finance Company at $8,889,452.

Last updated on August 27, 2012 at 6:04pm