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1996 latest report

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LouisDesyjr Member Level  Thursday, 07/05/18 04:21:02 PM
Re: k1234 post# 3
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1996 latest report


I think I ran across other information elsewhere but would NOT recommend buying any shares.

Basically, the company only exists as a 'pass through' for CSX and has no other operations:


The company has no operations. Its property is leased in perpetuity to CSX Transportation, Inc. (CSXT) and is maintained and operated by, for
and in the name of CSXT. As rent, CSXT pays the company's income taxes, administrative expenses, and guaranteed dividends on the
company's 3-1/2% common and 8% preferred stock on shares held by other than CSXT. Interest income is earned on amounts due from CSXT
based on returns earned by CSX Corporation, parent company of CSXT, on its short-term investment portfolio.

The problem with buying shares is that it is not much better than comparative investments as rate as the rate BUT you run the risk that if anything ever happens to CSX the dividend will be in danger.

Louis J. Desy Jr.

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