FAILURE OF RAILWAY.
EAST COAST OF FLORIDA.
UNABLE TO PAY INTEREST.
NEW YORK. Sept. 1
A message from Jacksonville, Florida, says the East Coast Railway, which was founded by the late Mr. Henry Flagler, a pioneer developer of Florida, went into the hands of a receiver to-day. It had lost £31,000,000 in its operations since 1928 and was unable to meet interest due to-day. There are £9,000,000 in bonds outstanding. The railway is believed to be a casualty of the deflation of the Florida land boom.
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New Zealand Herald, Volume LXVIII, Issue 20968, 3 September 1931, Page 9
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86FAILURE OF RAILWAY. New Zealand Herald, Volume LXVIII, Issue 20968, 3 September 1931, Page 9
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