ABSTRACT
We have owned the Detroit, Toledo & Ironton Railroad for about five years. A great deal has been written and said about this road, because, until we took it over, it had been through more than a dozen receiverships and reorgani zations. We have no record that it ever earned any money before we bought it — that is, earned money for the stockholders. It has earned fairly well for the bankers who from time to time have reorganized it.
