Testimony of Henry Villard, May 14, 1887, PRC, 1:428-35, 56.
For its overcapitalization, see Report of William Calhoun, Accountant, PRC, 4891-4919.
Henry Villard, Memoirs of Henry Villard, Journalist and Financier, 1835-1900, 2 vols. (Westminster: Archibald and Constable & Co., 1904), 2:280-81.
Peter Tufano, "Business Failure, Judicial Intervention and Financial Innovation: Restructuring U.S. Railroads in the Nineteenth Century," Business History Review 71 (Spring 1997): 8-19.
Southmayd to Holmes, Sept. 5, 1878, Villard Papers, box 3, f. 26.
Villard, Memoirs, 2:282.