Full text of Commercial and Financial Chronicle : April 24, 1880 : Investors' Supplement, Vol. 30, No. 774

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k
r

THE

OP

floMMERCIAL & FINANCIAL ^HRONICLE.
[Entered according to act of Congress,

in the year 1880, by Wtf. B. Dana & Co.,

NEW

YORK,

in the office of the Librarian of Congress, Washington, D. C.l

APRIL 24, 1880.

the public is being better and
more cheaply served by our railroads each succeeding
year, we do not think they are amenable to that criticism.
It is not, therefore, to any actual division of earnings, if
(j^ommcrrial # ^Financial (f {jronttU.
openly and regularly made, that exception can be justly
taken, but to the fact that,in practice these scrip dividends
are an abuse which is making railroad management odious,
The Supplement contains a complote exhibit of the Funded Debt of
and so justly subject to criticism that outside of a small
States and Cities, and of the Stocks and Bonds of Railroads and other
circle they are almost universally condemned.
Companies.
The Supplement is furnished without extra charge to all regular
Only consider for a moment the usual course pursued
subscribers of the Chronicle. Single copies are sold at $2 per copy.
when any new stock issue is to be dumped upon the public.
By a kind of financial lunacy, the public imagines that
property may be increased by multiplying the number of
THE CHRONICLE.
titles to it.
So after the measure has been determined
The Commercial and Financial Chronicle is issued every Satur¬ upon and the leaders in it have loaded themselves well up,
it is allowed to leak out on Wall street that such an issue
day morning, with the latest news up to midnight of Friday.
is in prospect and away goes the stock in its speculative
TERMS OF SUBSCRIPTION—PAYABLE IN ADVANCE:
flight, the gullible outsiders taking it in at any price.
When, however, the fever is at its height, the management
For One Year (includir ' -Kjstage) ;
$10 20.
For Six Months
It/
6 10.
generally unloads itself, and if this is done effectually,
Annual subscription in London (including postage)
£2 7s.
the street is finally told that no such issue has been
1 8s.
Sixmos.
do
J*ho
do
The little game which worked so
Subscriptions will be continued until ordered stopped by a toriiten thought of at present.
order, or at the publication office. The Publishers cannot be responsible well once, is kept for another occasion, and as the public
for Remittances unless made by Drafts or Post-Office Money Orders.
is never the wiser for such an experience, it serves almost
as good a purpose the
London Office.
next season. It may be that, in
The London office of the Chronicle is at No. 5,Austin Friars, Old Broad this way, outsiders are what they call “ milked” several
times, before the scrip issue is actually made.
Street, where subscriptions will be taken at the prices above named.
But besides this, when the new stock is actually put out,
WILLIAM B. DANA Sc CO., Publishers,
79 <C 81 William Street.
how entirely all responsibility is ignored with all regard to
it.
Very seldom indeed is there any statement published
SCRIP DIVIDENDS AND RAILROAD
showing a basis for it; the management, in its wisdom
ACCOUNTS.
simply claims that the property is worth the old and the
The revival of railroad activity, not only in leases, new capital, and, arbitrarily assuming that, scatters it.
extensions, and entirely new construction, but in aug- This is the modern American practice. Formerly the idea
mented earnings and consequently a palpable increase in prevailed here, and even^now in all other countries prevails,
the substantial property represented by railroad securities, that a railroad corporation is answerable to its creator, the
suggests anew the old subject of scrip dividends. None State, and through it to the people. We see no reason
such are made during the backward flow of the commer¬ why this should be changed, but every reason for its con¬
cial tide, for then there is neither any increase to be repre¬ tinuance. In the first place, such secret autocratic manage¬
sented by them, nor any sale for them.
Some recent ment is in many ways demoralizing; it is usually, as we
issues, however, made or proposed, bring up the sub¬ have seen, corrupt in itself, it is corrupting in its influence
ject, and illustrate the tendency in this country to thus on the people, and furthermore is a prolific source of the
increase corporate stock and debts.
corruption of our Legislatures. Then, again, one form of
With the managers of railroads the object in adding to concealment leads to another, a close veil of secrecy
capital in this manner may be either purely speculative, or gathering over all operations ; the idea of virtual partner¬
may be used by them to that end when otherwise legiti¬ ship-interest by the public in railroads goes to the back
mate and proper, or else be simply a cover for concealing ground, a fixed hostility grows out of the permanent griev¬
dividends. As a means for attaining any one of these ance and the gulf widens between companies and the peo¬
purposes we think the custom objectionable. At the same ple, so that the demand for government repression, or even
time, our readers well know that we fully believe in allow¬ of assumption and control, threatens to become what is
ing corporations to make any returns to their stockholders called an “issue.” In a word, it is just such abuses as those
which they honestly earn, so long as they do not by exces¬ we are speaking of, that have given to Kearneyism a respect¬
sive rates unduly tax the people; aud since all the evidence able support.

INVESTORS’

SUPPLEMENT

07 THE

.

*

.




at

present goes to show that

2

INVESTORS’ SUPPLEMENT.

[Voi.. xxx.

And yet

it is the abuse of scrip dividends and not scrip
SA VINOS BANKS AND RAILROAD BONDS.
themselves that is objectionable.
Stock¬
A law has been passed
by the Connecticut Legislature
holders are entitled to their earnings whether their
investments represent cotton factories or railroads, and authorizing savings banks of that State to invest their
moneys in the bonds of any railroad which has paid a
earnings really applied to construction and development
dividend of at least five per cent on its stock for five
may properly be represented by share capital. To pay
years prior to date of purchase.
This is an extension of
therefore, by an issue of scrip, for extensions, additional
the option of bank managers with
regard to invest¬
tracks and enlarged facilities, is entirely proper. More than
ments, and while an entirely safe provision, affords the
that, the public have an interest in having roads extended
opportunity to the directors of raising the average of
and brought to the utmost efficiency.
A railroad is one of interest obtained
and therefore paid.
those things which is never quite finished.
It begins with
Of course it would take considerable time to make a
a
single rudely-ballasted track, wooden bridges, sharp
compilation wholly covering the requirements of this new
curves and grades, and
scanty equipment, and works up to
law. There are many roads not on
any of our Stock
additional tracks, solid road-beds, steel rails, stone and
Exchange lists which would come under the provision
iron bridges, curves straightened and
grades lowered, and mentioned. On another
occasion, however, we shall
a road and
equipment which fit into each other and pro¬
attempt to enlarge the following table, but to-day we only
duce the maximum of efficiency.
The interest of the include those roads which
have paid a dividend in any of
public in this process is manifest, but it does not come by
the last five year's, and which are sold at our New York
chance or without cost.
Few stop to inquire how far the
Stock Exchange.
great reduction in transportation rates is due to these
The list includes all the
dividend-paying railroad stocks
very improvements, and how far those improvements have
(exclusive of horse railroads) dealt in at the Exchange,
been bought with dividends earned but undivided.
either on the regular list or “ Free ” list.
The dividends
It is manifestly, therefore, not for the
public interest to for the several
years named are intended to include the
discourage the application of earnings to construction by
dividends actually paid within those years.
insisting upon a rule which would indiscriminately forbid
scrip dividends. The first step to a right - conclusion on
Names.
1875. 1876. 1877. 1878. 1879.
this subject would be a uniform mode of
keeping railroad
7
7
7
accounts.
The present practice as to construction is vari¬ Albany & Susquehanna (leased)
7
7
Central of New Jersey
10
5
able and elastic.
10
8
8
Properly, however, the expenses charge¬ Central Pacific
Chicago & Alton
9
8
7r
6
7*2
Do
able to earnings include the
pref
9
8
7
7
7*2
general expenses of keeping Chicago & Northwestern
5
Do
pref
2 l2
up the organization and all incurred in operating and keep¬
7
3*2 7
Chicago Milwaukee & St. Paul
Dok
pref
ing the road and equipment in good condition and repair,
3*2 16*2 7
Chicago Burlington & Quincy
10
10
9
8
a
&
replacing what is worn out; whilst expenses chargeable to Chic. R. I. & Pacific (and IowaSouth’n)... 8
8
8
8
10*
Cleveland
Pittsburg, guar
7
7
7
7
T
capital include those which are incurred in original con¬ Cleveland Col. Cin. <fc Indianapolis
3
3*2
Delaware Lackawanna & Western...*
10
7*2
struction and equipment, and in
5
G
any improvement and Dubuque & Sioux City
3*2 5*2 4
East Term. Virginia & Georgia
3
3
3
3
enlargement of the former, and any addition to the latter. Erie & Pittsburg (leased)
7
7
7
7
7
Harlem, guaranteed.. ) Including 4tli Av. 8 & 2 8 & 2 8 & 2 8 & 3 8 &3
With accounts thus kept and
publicly displayed, and with Harlem, pref., guar..!. 3
Horse RR
8 & 2 3 & 2 8 & 2 8 &3 8 & 3>
Illinois
8
8
4
6
6
scrip dividends made within the year when this applica¬ Joliet &Central
Chicago
7
7
7
7
7
Lake Shore & Michigan Southern
2
2
3
tion of the earnings occurs, the
3i4
secrecy, the source of so Louisville <fe Nashville
3
4
1*2
Central
much evil, and the
2
3%
misunderstanding, which consequently Michigan Essex
Morris &
7
7
7
7
7
Nashville Chattanooga
3
1*2
3
1*2
2^2
arises, would all be removed. We are thus brought again Now London Northern & St. Louis
8
7%
6
6%
a
Now York Central & Hudson
to the old conclusion—the inevitable
10
8
8
8
a
goal of every New York Elevated
10
New York New Haven <fc Hartford
10
10
10
10
9
intelligent discussion of every railroad question—that the New York Prov. & Boston
10
(Stonington)
10
a
1056 10
first requisite is a uniform and
Norwich <fc Worcester
10
10
10
10
10
intelligible system of Oswego &. Syramse (leased)
9
9
9
9
9
accounts and absolute
Panama
12
9
12
12
13
publicity. We have urged this Philadelphia & Reading
10
21-2
subject of publicity so often that to add anything new to Pittsburg Fort Wayne & Chicago (guar).. 7
7
7
7
7
Do
7
special
7
7
7
7
it is impossible.
The necessarily greater difficulty of effect¬ Rensselaer & Saratoga (leased)
8
8
8
8
a
United New Jersey Companies
10
10
10
10
10 a
ing this reform here than in England is evident, but the Terre Haute & Indianapolis
10
10
6
8
8
Union Pacific
8
8
3^4
6.
5^2
same
difficulty besets every phase of the railroad problem. Warren (leased)
7
7
7
7
7
If the problem of
preventing heavy wagons from running
cash and 14 per cent in bonds.
dangerously fast down hill were up for solution, and one
should urge a variety of
plans for suspending the law of
This Connecticut law seems to us to be a wise one.
In*
gravity, or for using a counterbalancing weight, forgetting all legislation of this kind the aim should be to
extend, as
the simple device of a
brake, he would be pronounced much as is consistent with safety, the discretion of theunpractical; but communities are not less so, which demand directors. "We do not remember any other State law with,
elaborate repression of railroads, and
neglect the easier the same permission and limit, and yet this Connecticut,
specific of enforcing uniformity of accounts and publicity law appears to possess the
necessary features of such a.
throughout. This remedy has in its favor that there is statute,- as it opens at once a very wide door for
investments^
absolutely nothing to be said against it, secrecy having no and at the same time so guards the
managers’ action
palliation now. It^would meet less resistance than any as to make it
quite difficult for even a dull and stupid one*
other reform plan, because defense of secrecy would be so to err. Of course all
things are possible, and it will be
forlorn a hope; and it would,
moreover, be astonish, possible to find a railroad paying dividends and
permitting
ingly effective in ending such complaints against railroads its property to run down, the securities of
which, therefore,,
as are
really well-founded. If public opinion and the would be unsuitable for savings banks. No kind of invest*
efforts of reformers would
only concentrate upon this ment law can be made absolutely safe if left to careless,,
single step, and hold to it until accomplished—instead incompetent, or corrupt
people to execute. Even if restricted
of being wasted
upon more scattered, more complex, and to Government bonds one;'can
purchase those that havemore doubtful
plans—there might soon be a real progress been altered or can employ a dishonest
broker, or can keep
in adjustment of the railroad
them so carelessly as to have them stolen, or the
problem. ;
deposit*
dividends in

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Apkil,

1880.]

INVESTORS* SUPPLEMENT.

be appropriated before they have been
those in charge are so disposed.
But with
-can

invested if
an

i

honest

3_

Auditor of Railroad Accounts (an officer first
appointed under the act of June 19, 1878) recommended
an extension of time in case of that road of five years
from July 1 last, remarking that the company was then
(Nov. 1, 1879) pushing construction at both ends, expect¬

report, the

ordinary intelligence, there can be no
question of the propriety of the law.
Some of our legislatures in their laudable efforts to
ing to have two or three hundred additional miles open by
attain safety for savings deposits, forget the equal necessity
next summer.
During the past week, the Senate Com¬
•of securing for these institutions the possibility of making
mittee on Railroads recommended for passage a bill grant¬
fair dividends.
The banks are designed for the savings
ing six years’ extension, and voted to place on the
•of the laboring classes, but without such dividends those
calendar another bill granting ten years to the Texas
savings will not be attracted ; and to enact that the hold¬ & Pacific.
There are precedents for such a course in joint
ings of Government bonds shall cover one-half to three- resolutions by which shorter extensions were granted to
quarters of the deposits, means that the banks shall pay to several of the Pacific roads, 14 years ago. Furthermore,
their depositors hereafter less than four per cent. That
there seem to be special considerations why a more vigor¬
would seem to be a provision, therefore, tending to discour¬
ous enforcement of the conditions should not be insisted
age the use of savings banks by any one except as a tem¬
upon now.
porary place of deposit.
In the first place, there can be no question that the work
■We also like this law because, as we have said, while it is
of construction was actually begun in good faith and
'safe, it also widens the discretion of the managers. Great
pushed with all reasonable energy until 1873, nor that the
want of wisdom is shown when we attempt to run savings
panic of that year introduced an insurmountable obstacle
banks or railroads or any other corporations, by legislation.
to further progress.
It was practically as complete a
It is impossible to make an automatic machine of that
check on pushing the enterprise as if the supply of iron in
'description. We need intelligence, common sense and the world had suddenly become exhausted, or as if some
business tact in the management; and to secure and retain
natural law had suddenly become suspended.
The change
all that we must give these officers a certain discretion, the
was as unforeseen, by either the makers of the law or the
management, using

'

*

opportunity to use their judgment and the hope of seeing parties working under it, as it was beyond the control of
the company they manage made prosperous under their
either. To such a change in circumstances, manifestly,

•administration. Take away from them
the chance of doing more than sending

all ambition, or
to Wall street to

which provides in statutes of
limitation regarding debts, that time during which the
buy a Government 4 per cent, and the result will be that debtor is absent shall not be included; a failure proceed¬
the honest, intelligent classes, those best fitted for the situing from so peculiar a cause should not be judged as
•ations, will leave their places for others to fill. It is impos¬ in ordinary circumstances, and it is only
within the past
sible to keep a full-grown, active, sagacious man in a
year that the cloud has really begun to lift and to permit
place made for a wooden man to stand in.
material progress in construction.
Then, again, the only penalty provided or possible is the
reversion of the lands. But the Government is not yet by
THE COMPLETION OF LAND GRANT RAIL- any means landless; and as the fixed policy'has always
been to grant alternate sections, it is worth more to the
ROADS.
Government to have its reserved sections tripled in value
Bills now before Congress raise the question whether
by completion of the roads than to retake what it once
& literal compliance with the conditions
imposed in the parted with in order to appreciate the rest. All the rea¬
-acts granting land to railroads shall be exacted, or whether sons which
originally existed for making the grants exist
a more liberal policy shall be pursued.
The making of still. The case ’is not as if Government could repossess
land grants began as long ago as 1850, the railroad itself of a valuable property once too inconsiderately
system having then scarcely begun, when Congress estab¬ bestowed. Nothing additional is asked—the question is
lished the precedent, in case of the Illinois Central and
simply whether the advantages which promised to accrue
the Mobile & Chicago, by granting 2£ million acres from the
arrangement originally shall be secured in the
to the State of Illinois and one million to Mississippi.
only way possible. Besides, with the occupation of the
To fourteen States—which soon transferred the grants to
lands, which the progress of the roads will hasten, the

for the purpose—about 66
and to corporations directly
.about 152 millions more.
At the beginning of 1873, of
this aggregate about 30 million acres had been duly certified
to the companies under the respective acts.
According to a report transmitted to the Senate, about
two months ago, by the General Land Office, sixteen
grants remain on which the conditions have not been ful¬
filled, covering about 99 million acres, of which the grants
to the three Pacific roads cover 88£.
By the conditions of
some of these grants, the lands were to revert to the
companies chartered by them
million acres have been given,

the same

reasoning applies

will be increased. In this
connection, the enormous inflow of the human tide from
abroad is suggestive, the number of emigrants arriving,
during this year so far, having been three or four times
great as during the same time in 1879.
Finally, it is obvious that it is not for the public interest
that there should be only a single line to the Pacific.
All the fears and denunciation of railroad monopoly and
combinations are so much affirmation of this, and the
management which now controls the principal road and is
carrying out plans for acquiring a great through line from
United States in case the roads were not completed within ocean to ocean is not encouraging to the prospect of per¬
the specified periods, but in the grants to the Northern and manent
dependence upon roads already completed. Yet
to the Atlantic & Pacific such condition was absent, and it whether
any other can be finished without the aid of the
was provided that after one year following any breach in the
land grants is certainly questionable. The old roads had a
contract the Government might do anything requisite to direct
subsidy ; and, although the success of such an enter¬
secure speedy completion of the roads.
In case of the prise had not then been demonstrated, the others have now
Northern Pacific, the Interior Department decided, last their
competition to contend with. To present a change
June, that the term did not expire until last July, and the of front now by applying an illiberal policy to these
year which must pass before any proceedings can be taken unfinished roads would be without good reason.
of course'does not expire until next July. In his recent




productions of the country

as

INVESTOKS’ SUPPLEMENT.

INDEX
m

With the

changes which

TO

NAMES

OF

[Vol. XXX.

RAILROADS.

constantly taking place in the titles of various railroad companies, by reason, of
occurs that much difficulty may be experienced in looking up the name of a
foimer company in the tables of this Supplement. To obviate this
difficulty, and to facilitate reference to any name, whether
new or old, the following index has been
prepared:
numerous

are

foreclosures, consolidations, &c., it frequently

NAMES

KAMES

UNDER WHICH COMPANIES
MAY BE SOUGHT FOR.

UNDER

WHICH

BE FOUND IN THE

THEY

WILD

“SUPPLEMENT”

TABLES.

A labama & Tennessee River
Selma Rome & Dalton.
American Dock & Improvem’t Co.. .Central of New Jersey.
Maine Central.
Androscoggin <fc Kennebec
Arkansas Valley
Denver 6c Rio Grande.
Atchison & Pike’s Peak
Union Pacific, Central Branch.
Atlantic & Great Western
New York Pennsylvania & Ohio.
Atlantic & Gulf
Savannah Florida & Western.
Atlantic & Pacific
St. Louis & San Francisco.

Marietta & Cincinnati.

Bangor & Piscataquis

European & North American.

Bay City & Saginaw

Chicago Burlington 6c Quiucy.

Cairo Arkansas & Texas
Cairo & Fulton

St. Louis Iron Mount’n & Southern.

r

St. Louis Iron Mount’n & Southern.

California & Oregon
Camden & Amboy

Central Pacific.
United Companies of New Jersey.

Cape May & Millville

West Jersey.

Central of Long Island
Central Vermont

& Grand Trunk
& Illinois River
& Michigan Lake Shore

Milwaukee 6c Western
Minnesota Central
Minnesota Valley

Chicago Rock Island & Pacific.

Kentucky Central.

Dakota Southern
Danville & Vincennes

Sioux

City & Nebraska.

Chicago & East. Illinois.
Chicago Milwaukee & St. Paul.

Davenport & Northwest

Wabash St. Louis & Pacific.

i

Lehigh Valley.
Union Pacific.

Michigan Central.

Eel River.
Detroit Grand Haven & Milwaukee.
Lake Shore & Michigan Southern.
Detroit Grand Haven <fc Milwaukee.

Chicago Burlington & Quincy.

Easton & Amboy
Lehigh Valley.
East Tennessee & Georgia
East Tenn. Virginia & Georgia.
East Tennessee 6c Virginia
East Tenn. Virginia & Georgia.
Erie
New York Lake Erie & Western.
Essex
Eastern (Mass.)
Evansville & Crawfordsville
Evansville & Terre Haute.
Evansville Henderson & Nashville..Louisville & Nashville.
Flint & Holly
Florence El Dorado <fe W

Flint Sc Pere Marquette.
i Atchison Topeka & Santa Fe.
Flushing North Shore 6c Central.

Flushing 6c North Shore
Galena Sc Chicago Union
Grand River Valley
Great Western (Ill.)

Chicago Sc Northwest.
Michigan Central.

Wabash St. Louis & Pacific.

IVannibal & Central Missouri
Harlem Sc Portchester
Hastings & Dakota

Missouri Kansas & Texas.
New York New Haven & Hartford.

Chicago Milwaukee & St. Paul.
Flint Sc Pere Marquette.
New Haven & Northampton.

Holly Wayne & Monroe
Holyoke & Westfield

„

Mississippi Central

Missouri River Fort Scott & Gulf
Montclair
Monticello Sc Port Jervis

Kalamazoo & South Haven
Kalamazoo & White Pigeon
Kansas City Sc Cameron
Kansas City St. Louis & Chic..
Kansas City Topeka & Western
Kansas & Nebraska
Kansas Pacific

Chicago St. Louis & New Orleans.
New York Ontario & Southern.

Long Island.
Long Island.
Cleveland Sc

Mahoning Valley.

Atlantic Mississippi &01iio.

Chicago Burlington Sc Quincy.

Wabash St. Louis & Paciflo.
Richmond & Danville.

Chicago & Northwest.
Baltimore & Ohio.

:

Oakland & Ottawa River
Oil Creek.
Omaha & N. Nebraska
Omaha & Southwestern
Ontario Southern

Detroit Gr. Haven & Milwaukee.

Pittsburg Titusville & Buffalo.
City.
Burlington & Missouri in Nebraska,
St. Paul & Sioux

ILake Ontario Southern.

Orange 6c Alexandria
Ottawa Oswego & Fox River

Washington City Va. Mid, Sc Gt. So.
Chicago Burlington & Quincy.

Pacific of Missouri
;
Pekin Lincoln & Decatur
Peninsular (Mich.)
Plain View
Pleasant Hill 6c De Soto
Port Huron & Lake Michigan
Port Royal
Portland & Kennebec
Prairie du Chien
1
Pueblo & Arkansas Valley

Missouri Pacific.
Peoria Decatur & Evansville.

Chicago 6c Northwest.
Chicago & Northwest.

Atchison Topeka & Santa Fe.

Chicago & Lake Huron.

Port Royal & Augusta.
Maine Central.

Chicago Milwaukee & St. Paul..
Atchison Topeka & Santa Fe.

Quincy Alton & St. Louis

Chicago Burlington & Quinoy,

Quincy & Palmyra
Quincy Sc Toledo
Quincy & Warsaw

.Hannibal & St. Joseph.

Wabash St. Louis & Pacific.

Chicago Burlington & Quincy.

Republican Valley

Rochester Sc Northern Minnesota

..

Burlington & Missouri in Nebraska.
.Chicago & Northwest.

St. Joseph & Deuver City
St. Joseph Sc Western.
!*t. Joseph & Pacific
St. Joseph & Western.
St. Louis Jacksonville Sc Chicago
Chicago & Alton.
St. Louis Kansas City & Northern...Wabash St. Louis & Pacific.
St. Louis Rock Island & C
Chicago Burlington 6c Quincy.
St. Paul & Chicago
Chicago Milwaukee & St. Paul.
St. Paul & Pacific
St. Paul Minneapolis Sc Manitoba.
St. Paul Stillwater & T. F
St. Paul Sc Sioux City.

Sandusky City & Indiana
Sandusky Dayton & Cincinnati

Cincinnati Sandusky & Cleveland.
Cincinnati Sandusky & Clovcland.

Pittsburg Titusville & Buffalo.

Michigan Central.

Virginia Central
Virginia & Tennessee

Chesapeake & Ohio.
Atlantic Mississippi & Ohio.

Chicago & Alton.

Wabash & Western
Waco & Northwest
West Wisconsin
Western Pacific
Western Union Railroad
Wichita & Southwestern
Winona & St. Peter

Wabash St. Louis & Pacific.
Houston & Texas Central.

Indianapolis St. Louis Sc Chic.
Cin. Indianapolis St. Louis & Chic.
Jeffersonville Madison & Ind.
International & Great Northern.
Detroit Lansing & Northern.

Burlington Cedar Rapids & North’n.
Chicago Milwaukee & St.Paul.
Chicago & Northwest.
Chicago Milwaukee & St. Paul.
Chicago Rock Island & Pacific.
Michigan Central.
Lake Shore Sc Michigan Southern.
Chicage & Alton.
.

Atchison Topeka & Santa Fe.

Union & Logansport
Union & Titusville

Cin.

Chicago

Worcester & Nashua.
Central of New Jersey.
Boston Clinton Fitchburg Sc N. B.
Co.United New Jersey RR. & Canal Co’s

New York Sc Rockaway.
Newtown & Flushing
Niles & New Lisbon
Norfolk & Petersburg
Northern Cross
North Missouri
Northwestern North Carolina
Northwestern Union.

Northwestern Virginia

Port Jervis & Monticello.

Missouri Kansas Sc Texas.
Nashville Chattanooga & St. Louis.
Wabash St. Louis & Pacific.
Columbus Chic. Sc Indiana Central.
Wabash St. Louis & Pacific.
Wabash St. Louis & Pacific.

Indianapolis Decatur Sc Springfield.

Exten.Champaign Havana & Western.

Kalamazoo Allegan 6c Gr. Rapids
Kalamazoo Sc Schoolcraft

Jersey RR. & Transportat’n

.Kansas City Fort Scott & Gulf.
New York Sc Greenwood Lake.

Philadelphia & Erie.

Wabash St. Louis & Pacific.

Lansing Sc Saginaw

New

..Chicago St. Louis & New Orleans.
..

Tebo Sc Neosho
Tennessee & Pacific
Toledo & Illinois
Toledo Logansport & Burlington
Toledo Peoria Sc Warsaw
Toledo & Wabash

Chicago Burlington & Quincy.

Jamestown & Franklin

Vermont & Canada.

Sunbury & Erie

Illinois Grand Trunk
Illinois & Southern Iowa
Indiana & Illinois Central.
Indianapolis Bloom. & West.

Ionia Sc Lausing
Iowa City
Sc Western
Iowa & Dakota
;
Iowa Midland
:
Iowa & Minnesota
Iowa South. & Missouri North

Chicago & Northwest.

Missisquoi

.Central Pacific.

International Sc Great Northern.

International

Southern Minnesota.

San Francisco Oakland Sc Alameda
Savannah Albany & Gulf
Schoolcraft & Three Rivers
Scioto & Hocking Valley
Sioux City & St. Paul
Smithtown Sc Port Jefferson
South Pacific (Mo.)
South Side, (L. I.)
South Side (Va.)
Southern Georgia & Florida
Stanstead S. Sc Chambly
1
Steubenville & Indiana

Houston Sc Great Northern

Indianapolis Sc Cincinnati
Indianapolis tin. Sc Lafayette
Indianapolis Sc Madison

Chioago Sc Northwest.
Michigan Central.
Lake Shore & Michigan Southern.
New Jersey Midland.
Chicago Milwaukee & St. Paul.

=

New Mexico & So. Pacific
New Orleans Jackson & G. N
New York & Oswego Midland

Illinois Central.

Covington & Lexington

.Lake Shore & Michigan Southern.
Lake Shore & Michigan Southern,
Lake Shore 6c Michigan Southern.
Hannibal 6c St. Joseph.
Atchison Topeka Sc Santa Fe.
St. Joseph & Western.
Union Pacific.

Delaware Lackawanna & Western.

Lafayette Bloomington <& Mancie.. .Lake Erie Sc Western.




Central Railroad Sc Bank Co., Ga.
Connecticut & Passumpsic.
Louisville & Nashville.

Maesawippi
Memphis Sc Ohio

Chicago & Alton.
Chicago & West Michigan.
Chicago & Northwest.

’& Great Eastern

Lackawanna <fc Bloomsburg

Lynchburg & Danville

Nashua & Rochester.
Newark 6c New York
New Bedford Railroad

Cincinnati & Baltimore
Marietta 6c Cincinnati.
Cincinnati & Chicago Air-Line
Columbus Chic. & Indiana Central.
Cincinnati 6c Indiana
Cin. Indianapolis St. Louis & Chic.
Cincinnati Hamilton & Indianapolis.Cincinnati Hamilton & Dayton.
Cleveland Columbus 6c Cincinnati ..Cleveland Col. Cin. &
Indianapolis.
Cleveland Painesville & Ashtabula..Lake Shore & Michigan Southern.
Cleveland & Toledo
Lake Shore & Michigan Southern.
Columbus <fc Indiana Central
Columbus Chic. 6c Indiana Central.
Columbus & Indianapolis Central.. .Columbus Chic. & Indiana Central.
Council Bluff’s & St. Joseph
Kansas City St. Jqseph 6c Council B,

Joliet &

New York Lake Erie Sc Western.
Chicago & Alton.
Wash. City Va. Mid. Sc Gt. Southern

Louisiana & Missouri

Flushing North Shore & Central.

Vermont Central.
Columbus Chic. & Indiana Central.
Grand Trunk (Canada).

Chicago & Milwaukee
Chicago & Springfield
Chicago <fc Southwestern

Jackson

Long Dock Company

Chicago & Northwest.
Philadelphia & Reading.

Burlington & Missouri

Maine Central.
Central of New Jersey.

Lehigh 6c Wilkesbarre Coal Co

Michigan Air-Line
Michigan So. Sc North’n Indiana.
Midland of New Jersey
.»

New York & New England.
Lake Shore & Michigan Southern.

NAMES UNDER WHICH THEY WILL
BE FOUND IN THE “SUPPLEMENT”
TABLES.

Wabash St. Louis & Pacific.
Kansas City Lawrence & Southern

Menominee River

Cleveland Col. Cin. & Indianapolis.

&

Decatur & East St. Louis
Delano Land Co
Denver Pacific
Detroit & Bay City
Detroit & Eel River
Detroit & Milwaukee
Detroit Monroe & Toledo
Detroit & Pontiac
Dixon Peoria & Hannibal

Lake Erie Wabash & St. Louis
Leavenworth Lawrence & Galv
Leeds & Farmington

Flint & Pere Marquette.

Indiana
Beloit & Madison
Berks County
Boston Hartford <fc Erie
Buffalo & Erie

Chicago
Chicago
Chicago
Chicago

UNDER WHICH
COMPANIES
MAY BE SOUGHT FOR.

Macon Sc Western

Baltimore Short-Line

Beliefontaine

NAMES

Atlantic & Gulf.
Lake Shore &

Michigan Southern.

Marietta & Cincinnati.
St. Paul Sc Sioux City.

Long Island.
St. Louis & San Franoisco.

Brooklyn & Montauk.

Atlantic Mississippi & Ohio.

Atlantic & Gulf.
Vermont Central.
Pittsburg C. & St. Louis.

Columbus Chic. & Indiana Central.

Chicago St. Paul & Minneapolis,
Central Pacific.

Chicago Milwaukee & St. Paul.

Atchison Topeka & Santa Fe.
Chicago & Northwest.
Jyv,id

STOCK AND BOND TABLES.
NOTES.
expressly intended to be used in connection with the information concerning Investment matters, published from week to
week in the Chronicle—to which an index is furnished in the remarks at the foot of the tables. Annual reports are in black-faced figures.
A description of U. 8. Government Securities is published in the Chronicle each month, as soon as the official “Debt Statement" is issued.
Prices of all active Stocks and Bonds are quoted weekly in the Chronicle, and a list of general quotations is published monthly.
The following will give explanations of each column of the tables below:
Description.—Railroads leased to others will sometimes be found under the lessee’s name. The following abbreviations frequently occur, viz.:
M. tor “mortgage.” s. f. for “sinking fund,” 1. gr. for “land grant,” reg. for “registered,” coup, for “ couqon, Br. for “Branch,” guar, for
“guaranteed.” end.for “ endorsed.” “ Coupon*” indicates that the bonds are coupon, but may be registered.
These tables are

Dale of Bonds.—The date of issue is referred to in this column.
Miles of Road— Opposite Stocks, this means the miles of road operated, on

71658097781 788811
by the mortgage.

which the earnings are based; opposite bonds, the miles covered

Size or Par Value.—These figures are dollars, showing the denominations or par value. The flj
Rate Per Oent.—The interest per annum is given for bonds, but the per cent of last dividend for st
When Payable.—J. A J. stands for Jan. & July; F. & A., Feb. & Aug.; M. & S., March A Sept.; A.
June A Dec.; Q.—J., quarterly from January; Q..—F., quarterly from Feb.; Q.—M., quarterly

Bondsf principal when due; Stocks, last dividend.—The date in this column shows the
when the last dividend

was

paid

on

from March.

period when the principal falls due of bonds, but the time

stocks

STATE SECURITIES.

Subscribers will confer

a

great favor by giving immediate notice of any error
Date of
Bonds.

DESCRIPTION.

For

explanations

see notes

do
for Ala. & Chatt. (C) ($1,000,000)
Educational funded debt
New bonds for funded “ obligations ”

Arkansas—Funding bonds of 1869 and 1870..

Funding Bonds 1870 (Holfdrd)....

Levee bonds (or warrants)
Old unfunded debt, including interest
Ten year b’ds, ActMay29,’74

Sinking fund bds,(Lougliborough)Act.Dec., ’74
To Memphis A Little Rock Railroad
To Little Rock & Fort Smith Railroad

,

To Little Rock, Pine Bluffs A N. Orleans RR..

To Miss., Ouachita A Red River
To Arkansas Central Railroad
State scrip.

Railroad

California—Soldiers’ relief
State capital bonds

Funded debt bonds of 1873
Connecticut—War bonds, 20 year
) Coupon
War bonds, 20 year
>
or
do
not taxable, 20 year.. ) regist’d.
New bonds, coupon, 10-20 year

Dist.’pf Columbia— Perrn’t imp’t, gold, coup

Permanent improvement bonds, coupon
Bds for fund’g (Act June 10, ’79) coup, or reg.
Fund, b’ds (U.S.guar., Acts June,’74& Feb.,’75)
Market stock, coupon
Water stock bonds, coupon
Wash, fund’g, gld,($660,000 are M. AN.,1902).
Florida—State bonds
Consolidated gold bonds ($300,000 are 7s)....
Loan to Jacksonville, Pensacola A Mobile RR.

Qeoi'gia—Atlantic A Gulf Railroad bonds
Bonds, act of Mar. 12, ’66 (renewal W. & A.)..
Quarterly gold bonds, act of Sept. 15,1870..
Bonds, act of Jan. 18, ’72
Bonds for funding (Act Feb. 19, ’73)
Bonds to fund coupons on endorsed bonds...
Bonds exchanged for endorsed RR. bonds
New funding bonds, small
*

Illinois—Refunded stock bonds.
Indiana—Bonds, coup, (pay’ble after Apr. 1,’84)
School fund bonds (non-negotiable)
Iowa—War and defense bonds
School fund bonds

or

-

1876
1876
1876

1880
1869 to ’70
1870
1871
1838 to ’39
1874
1875
1869
1870
1870
1870
1870
1863
1863
1870 & ’72
1873
1863
1864
1865
1877
1872
1873
1879
1874
1872
1871 to ’73
1872
1871
1873
1870
1858 to ’66
1866
1870
1872
1873
1876
3 877
1878
1847
1879
1861

$100&c.

$6,438,000

100 Ac.

538,000

1Q0 Ac.

827,000
2,810,670
1,000,000
1,886,000
1,268,000
1,986,773

1,000
1,000

100 &c.

Rate.
2 Ac.
5
2 Ac.

When

Payable

Whom.

m

500 Ac.

1>000
1,000

100 &c.

1,000

500
100
100
50
50

Ac.
Ac.

&c.
Ac.
&c.

1,000

100 Ac.

i‘,000

1.000

600,000
1,350,000

95,500
500,000
2,801,000
877,000
1,318,500
1,741,100
1,031,000
3,995,000
670,000

1,092,300
13,504,900
150,000
423,000

7
7
3
6
6
6
5
6
7

J.
A.
A.
A.
A.
A.
g.
g.
g.

g-

5
365
7

7
6 g.
7
350,000
923,100 7 A 6 g.
8 g.
4,000,000

1,830,000

1,000
1,000

2,097,000

250Ac.

700,000
542,000

1,000

July 1,1906
July 1, 1906

00

*

July 1.1906

N.

Montgomery.
Y., Union Trust Co.

1899
1900

m

J.

do

1900

do

-

1884

5 A 8

1,200,000

589.500
3,600,000

500 Ac.

m

do

New York.

•-

10
6
7
7
7
7
7

261.500
412,000
1,200,000
1,000,000

500
500 Ac.

1,000
1,000

m

J. A

1,353,120

500 Ac.

A J
A J.
A J.

J.
J.
J.

J. A J.
J. A J.

6
6
6
7

Due.

Where Payable and by

1,985,955

1,000
1,000
1,000
1,000
1,000

Principal—When

Amount

par

Value.

above.

Aldbamar-Substitution bonds (A) ($7,000,000).
Substitute b’ds for RR. (B) ($596,000)

Size

discovered in tbese Tables.

INTEREST.

307.500

2,298,000
200,000
300,000
510,000
3,904,783
300,000
245,435

Alabama—The State gave 30-year bonds, dated July 1,1876, bearing
2 per cent till 1881, then 3 per cent till 1886, 4 per cent till 1896, and 5
per cent for last 10 years, for old bonds, without any allowance for pastdue coupons. Alabama A Chattanooga endorsed bonds are exchanged

for $1,000,000 of the new bonds, Class C, which bear 2 per cent till 1881,
and 4 per cent for remaining 25 years. For railroad endorsements the
bonds issued bear 5 per cent. In 1880 the new 6 per cent bonds were
issued to retire old 8 per cent “ State obligations.” An analysis of the
debt and funding operations was given in the Chronicle, V. 24, p. 28.
For the $2,000,000 of State 8 per cent bonds issued to the Ala. A Chatt.
RR. under act of Feb. 11, 1870, the State gives the lien on the lands
granted to that railroad, 500,000 to 1,200,000 acres. Tax rate, 1878-9,
7 mills. The assessed valuation of real estate and personalty is $126,773,262. (V. 27, p. 94; V. 28, p. 199.)
Arkansas.—The State Supreme Court decided Levee bonds of 1869 and
1870 invalid. The State is in default for interest, except on the 10 per
cents of 1874 and secured sinking fund bonds issued under the law of

6
7
7 g.
7
8
7
6
4
6
5
6
7
8

J. New York, Latham, A. A Co.
N. Y., Union Trust Co.
O.
do
do
0.
do
do
O.
do
do
A 0.
do
A 0.
do

A
A
A
A

1899
1900
1900
1900

April, 1900

1883
A J.
Sacramento, Treasury.
do
1885
do
A J.
1893
do
do
A J.
Jan. 1, 1883
A J.
Hartford, Treasury.
Jan. 1, 1884
do
do
A J.
Oct. 1, 1885
do
do
A O.
do
do
A N.
Mayl, 1897
A J. Wash, or N. Y., U. S. Treas.
July 1, 1891
do
do
A J.
July 1, 1891
do
do
A J.
July 1, 1899
do
do
A A.
Aug. 1, 1924
do
do
A J.
July 26, 1892
Oct. 1,1901 to *03
do
do
A J.
1892 A 1902
do
do
A J.
N. Y., Importers’ A Tr. B’k.
Jan. 1,1903
do
do
J. A J.
J. A J.
1881 and 1886
F. A A. N. Y., Fourth National B’k.
do
do
May, 1886
J. A J.
do
do
Oct,, 1890
Q.-J.
do
do
July, 1892
J. A J.
do
do
April 1, 1886
A. A O.
do
do
July 1, 1896
J. A J.
Jan. 1, 1889
do
do
J. A J.
Jan. 1, 1882
State Treasury.
Jan.
At will.
J. A J. N. Y.. Am. Exchange Bank.
N. Y., Winslow, L. A Co.
A. A O.
April 1, 1889
Various
July 1, 1831
J. A J. New York, Koimtze Bros.
State Treasury.
M. A S.
J.
J.
J.
J.
J.
A.
M.
J.
J.
J.
F.
J.
J.
J.

....

for 1880 was $87,980,356; personal property, $11,421,431. The interest
and sinking fund on the 3-65 bonds are provided for by Congress, and the
amount of these bonds will be raised to the full limit of $15,000,000.
For five years past real estate was assessed as follows:
Real Estate.
Personal.
Tax Rate.
1876
$93,452,684
$
$15
15
1877...95,929,401
15,419,873

97,609,890
17,239,051
15
87,491,442
13,363,920
15
87,980,356
15
-(V. 26, p. 599; V. 27, p. 303; V. 28, p. 553,578,599; V. 29, p. 17, 40, 95.)
Florida—Less the sinking fund of $143,900, and Jacksonville Pensa¬
cola A Mobile loan, the total debt is $1,149,800, which does not include

$132,000 bonds of 1857, held by Indian Trust Fund. Coupons of the

consolidated bonds are receivable for taxes. Real and personal property
assessed in 1878 at $29,471,227; tax rate, 9 mills. The Jacksonville Pen¬
sacola A Mobile Railroad loan is in litigation, and the State Supremo
Court has decided that the State is not bound for it. (V. 25, p. 212.)

December, 1874. The total recognized debt is $5,813,627, and State
sinking fund), $5,274,712. Assessed valuation of tax¬
Georgia.—The constitutional amendment in 1877 declared void several
1880 about $90,000,000, and tax rate 7*2 mills. The issues of bonds and railroad endorsements. The Southern Georgia A
Florida Railroad has $464,000 of bonds endorsed, but pays interest.
following are the latest official assessments:
Real Estate.
Personal.
Tax Rate. Assessed value and tax rate per $1,000 have been:
$61,812,088
10
$29,842,103
Years.
Real Estate.
Personalty. Rate of Tax. Total Debt.
61,892,881
10
31.971,308
$155,448,037
$500
$8,005,500
$106,307,847
55,713,115
7
32,366,893
146,036,806
.
99,816,944
500
8,447,500
32,613,686
55,351,488
7*2
140,153,250
95,506,280
500
10,644,500
-(V. 25, p. 161; V. 27, p. 15, 40; V. 28, p. 171, 276.)
134,635,886
91,585,832
5*00
10,444,500
134,244,081
90,849,338
350
10,344,500
California.—The State holds in trust for School and University funds
the $500,000 Capitol bonds and most of the bonds of 1873. Assessed —(V. 27, p. 653; V. 28, p. 17.)
Illinois.—The Illinois Central Railroad charter tax on earnings is
valuations and rate of tax per $1,000 have been:
about $300,000. For 1879 the total assessed value by local assessors
Years.
Real Estate.
Personal.
Total Valuation. Tax Rate. was:
Lands, $412,208,278; town and city lots, $177,567,098 ; personal
$418,840,023
$199,243,292
$618,083,315
$6-50 property, $151,629,963. (V. 24, p. 40.)
454,641,311
7*35
140,431,866
595,073,177
Indiana.—There are also $139,000 of 6 per cent war loan bonds.
6*30 Indiana made a compromise with her bondholders in 1846, giving them
458,172,198
128,780,824
586,953,022
118,304,451
584,578,036
5*50 State stock for one-half of their bonds and overdue coupons, and Wabash
466,273,585
112,325,850
549,142,610
436,816,760
6*25 A Erie Canal stock for the balance, about $7,500,000. The canal haa
Connecticut.—The, debt of Connecticut was all created originally for proved worthless, and the creditors claimed payment for their shares
war purposes.
from the State. Valuation, 1879, all taxable property, $884,368,828,
Assessed valuation and tax rate per $1,000 have been:
Years.
Real Estate.
Personalty.
Tax Rate. against $850,616,987 in 1878." Tax rate, 1-3 mills.
Iowa.—This State has a very small debt, and also very small town and
$244,121,905
$107,663,564
$1*00
1877
238,027,032
106,379,945
1*50 county debts. Assessed values (about one-third of true value) and tax
235,412,691
99,970,163
1*50 rate per $1,000 have been:
Years.
Real Estate.
Personal and RR. Tax Rate.
Debt.
95,901,323
150
228,987,700
1875
$294,313,368
$101,109,772
$3
$>43,056
The assessed valuation of real estate is about 70 per cent of the true value.
1877
302,277,661
3
102,292,383
£45,435
assets (land and
able property in

...

,

District of Columbia.—The total




assessed value of taxable real estate

1879

m

^

.

303,381,498

102,159,899

3

,

545,435

SECUEITIES.

STATE
Subscribers will confer a

great favor by giving

[Vol. xxx.

Immediate notice of any error

discovered In these Tables.

INTEREST.
Date of
Bonds.

For

explanation see notes on first page of

Size or
par
Value.

1861 to ’69
1861 to ’75
1864 to ’65
1853

DESCRIPTION.

$100Ac.

tables.

Kansas—Bonds, 1861 to ’69, funding, Ac
Bonds for various State purposes

Military loan

Louisiana—Bonds for relief of State Treasury

1866
1867
1870
1866
1870
1869
1857
1870
1871
1869
1874
1863
1863
1864
1868
1838
1838

special— <Lct 32 of 1870

Bonds funding coupons
do
to Boeuf & Crocodile

Navigation Co.
do
to Mississippi & Mexican Gulf Canal..
do
school, held by St. Treasurer
do
to N. Orleans, Mobile & Chatt. RR
do
to N. Orleans, Mobile & Texas RR
N. O. Mob. A Texas RR. bonds, end. by State

739,000
289,000
61,000

500
1000
1 000

’500

100 Ac.

1,000
1,000
1,000
1,000
1,000
1,000

273,000
49,000
98,000
23,000
48,000
80,000
260,000
48,000
70,000
2,500,000
875,000

11188779..;
696778.81175 8
■

Consolidated funded bonds
Mcune—War loan bonds

) Coup.
or

1

Bounty loan bonds
do

do

regis-

J tered.
^.Maryland—Baltimore A Ohio Railroad, stei '
Municipal war debt assumed

♦

Chesapeake A Ohio Canal,
Railroads and canals

Eastern Shore Railroad
Baltimore & Susquehanna

sterling

Railroad

Coast Defense Loan

Bounty Fund Loan

do
War Loan,

do

sterling

sterling

Troy A Greenfield Railroad loan,

sterling

do
do
home .
do
do
sterling
do
do
sterling
dollar b<
do
do
do
do
do
Southern Vermont Railroad Loan
Boston, Hartford A Erie Railroad, sterling...
Harbor Land Improvement (5-20s)
Danvers Lunatic Hospital
Lunatic Hospital, Worcester
New State Prisons, sterling

Michigan—Two Million Loan
'.
War Bounty Bonds
Minnesota—State Building loan, coupon

Railroad Bonds (not recognized;
Missouri—State bonds, proper
Consolidated bonds
University and Lunatic Asylum bonds
State Bank stock refunding
Bonds to North Missouri Railroad
Bonds to Cairo & Fulton Railroad
Bonds to Platte County Railroad
Bonds to Iron Mountain Railroad
Pacific Railroad of

Missouri

Funding bonds

5-20s, (act Mch. 29, ’75)
Hannibal A St. Joseph Railroad

Benewal bonds, coup.,

renewal

do

do

1872 & ’76
1872
1878
1861 to ’62
1863
1863
1864
1864
1869
1858 to ’61
1861 to’63

1871
1875
1873 to ’74

Louisiana.—The Constitutional

50
50
50
50

:

3,326,750

225,000
465,000

100 Ac.

965,554

500,000
220,000
888,000
200,000

500

1,000
1,000

4,379,500
4,000,744

500 Ac.
£100 Ac
£200
£200 Ac
500 Ac.
200 Ac.
£500

999,944

*

5,506,952
1,366,500
3,598,540
1,497,980

670,000

1,000
1,000
5,000

1,300,000

£200

3,599,024

1,000
1,000
1,000

700,000
1,500,000
1,100,000

£500

1,292,280

1,000

591,000
299,000
250,000
2,275,000
439,000

200,000

1,000

1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000

1877
1871
1872

1864
1872

31,069
269,000
528,355
298,435
62,605

...

1853 to ’59
1874
1875-6-7
1857 to ’75
1874

Rate of Tax
Property, per $1,000.
Personal

Estate.
$94,586,003 $39,246,313 $5
5
97,483,242
39,997,287
41,131,187 ■ 5
97,567,623
101,229,734
43,700,545
5
—State funds hold $713,700 of the bonds.

Tears.

1,995,555
2,436,666
155,615

1863
1865
1873
1858
1865 to *66
1868
1872
1874
1854 to ’58
1857 to’59
1859 to ’60
1854 to ’59

Kansas.—Kansas has but a small State debt, but
The valuations
•honds amount to $13,000,000.
Real

1,000

1875
1860
1868 to ’69
1874 A’76
1874 A ’77
1875-’76
1875

Nebraska—Bonds (act Feb. 14,1877) coupon...
Nevada—State bonds
Territorial bonds
Keto Hampshire—War loan, coupon bonds
Municipal war loan

value) have been:

385,000
307,000
2,330,000
2,826,900

500 Ac.
100 Ac.

1839
1837
1870
1839
1839
1868
1870 & ’74

Maryland Hospital Loan, 10-15 years
Maryland State Loan
Treasury relief loan, 10-15 years
Massachusetts—Back Bay Lands Loan

,

11,781,761

Various.

^Chesapeake A Ohio Canal
-Baltimore & Susquehanna Railroad
Annapolis & Elkridge Railroad
Defense Bounty Loan
Deaf and Dumb Asylum Loan

Bounty Fund Loan

100 Ac.
500 Ac.

2,727,000
401,000
104,000

1,693,000

267,000
504,000
1,361,000
2,971,000
1,000,000
4,350,000
1,518,000

1,482,000

549,267
160,000

380,000
600,000

2,206,100

100 Ac.

the issue of municipal
(at one-half of true
Total

Debt.
$1,235,975
1,181,975
1,181,975
1,181,975

Total

Assets.
$119,475
116,875
94,275
181,776

amendment passed December, 1879,

cent

provides for a new bond in place of consols of 1871, bearing 2 per
for 5 years, 3 per cent for 15 years and 4 per cent afterwards, on which

July.

erne.

whom.

Payable

6
7
7
6
6
8
6
8
6
8

Principal—When

Where payable and by

N.

do

do

do

do

$15,000 '

Various

119,000

Various

M. A N.
M. A S.
J. A J.
J. A J.
7*30 M. A S.
6
Various
J. A J.
8
A. A O.
8
8
J. A J.
7
M. A S.
6
F. A A.
6
J. A D.
6
A. A 0.
6
5 g- J. A J.
5 g. J. A J.
5
Q.-J.
A. A O.
5
3
Quart’y
J. A J.
6
6
Q.-J.
A. A O.
6
J. A J.
6
J. A J.
6
J. A J.
6
6
J. A J.
6
5 g. M. A N.
5 g- J. A J.
5 g. J. A J.
5 g. M. AN.
5 g. M. AN.
5 g. J. A J.
5 g. A. A O.
5 g. A. A 0.
5 g. J. A J.
5 g. J. A J.
5 g. J. A J.
5 g. J. A J.
5 g. A. A O.
5 g. J. A J.
5 g- J. A J.
5 g. Various
5 g. Various
....

....

....

loan

5 g.

6
7
7
7
6
6
6
6
6
6

Real
Estate.

1883 to ’84
1884 to ’99
1884 to’99

Y., Am. Exch. Nat. Bk.

J. A J.
J. A J.
J. A J.

July, 1893
1872 to 1906
1886
'

May 1,
Amounts not

fundable, j
80,000 “per report of \
260,000 Jan. 1,1878.
48,000
70,000

1907

March 1,1875
1886 & ’88
Jan. 1. 1890
1899
1897

July 1,1910
April, 1911

2,500,000
875.000

Jan., 1914
1,1883

N. Y., Bank of N. Y.
Boston, Suffolk Bank.

do
do

March

Aug. 15, 1880

do
do

June 1,1889

Oct. 1,1889
1890
1890

Augusta and Boston.
London, Baring Bros.
do

do

1890
1890
1890
1885
2 890
1890
1883

Baltimore, State Agency.
-

do
do
do
do
do
do
do
do
do
do

do
do
do
do
do
do
do
do
do
do

1885 & ’89
1887 & 1891
1887
1888 to 1893

May
July
July
May
May
July

1, 1880 •
1, 1883
1, 1883
1, 1894
1, 1894
1, 1889
Oct., 1888 to ’90
April, 1891 A ’93
July, 1891
Jan. 1, 1895

Boston, Treasury.
do

do
do

do
do
do

London, Baring Bros.
do
do

do
do

Boston, Treasury.
London, Baring Bros.
do
do
Boston. Treasury.
do
do
do
do

1893 A ’94

July 1, 1895
April 1,1890
July 1,1900
London, Baring Bros.
Sept. 1.1894-96
Boston, Treasury.
J’yl,’94-Sepl,’97
Boston, Treasury.
do
do
M’yl’95-Sep 1,’96
Jan. 1, 1895
London, McCalmonts.
Jan. 1, 1883
Y., Am. Exchange Bank.
do
do
May, 1890
St. Paul, Treasury.
July 1,1883

J. A J.
J. A J. N.
M. A N.
J. A J.
J. A D.
J. A J. N. Y., Bank of Commerce.
do
do
J. A J.
do
do
J. A J.
do
do
J. A J.
do
do
J. A J.
do
do
J. A J.
do
do
J. A J.
6
do r
do
6
J. A J.
do
do
J. A J.
6
do
do
J. A J.
6
do
do
J. A J.
6
N. Y., B'k N. America.
T. A J.
6
do
do
J. A J.
6
State Treasury.
A. A 0.
8
State Treasury.
9*« A 10 Various
do
M. A S.
9*3
M. A S.
Concord or Boston.
6
do
do
6
J. A J.

Years.
1878

The

When

Rate.

$101,175

100 Ac.

1,000

Bonds in aid of various railroads
Levee bonds—Act 35 of 1865
do
Act 115 of 1867
do

Amount

outstanding.

Dec., 1887
1883
1888

July, 1892
April 1,1894
1879 to ’88
1879 to ’89
1889 to ’90
1879 to ’89
1879 to ’87

July, 1894
1895-6-7
1887 to’95
1894-o-6

April 1,1897
1881 and ’82

March, 1887

Sept,, 1884 A '89
Jan., ’92 to 1905

Personal

Tax per

Total

Property.

$1,000.

Debt.

$1,118,557,164 $761,266,574 $12 54 $33,219,464

Sinking

Funds.

$13,448,194

1,090,749,235 742,533,998 12 78 33,020,464 14,142,900
to Boston Hartford & Erie Railroad was secured by

deposit of $3,600,000 “Berdell” mortgage bonds, afterwards exchanged
for N. Y. & N. E. RR. stock, and had a sinking fund of $1,141,991 Jan¬
uary 1,1880.
(V. 26, p. 40, 523.)
Michigan—The debt is practically extinguished, as the sinking fund
has $904,020 assets. Equalized valuation or real and personal property,
1880, about $630,000,000, and tax rate for State purposes 1 278-1,000

on the $1.
Minnesota.—All the State bonds are now held by the permanent school
fund. Minnesota has refused to recognize the “State Railroad Bonds” of
1858, to the amount of $2,275,000. A proposed compromise with the
holders was defeated by a large majority in 1877. Taxable property and
State tax since 1874 have been:

mills

for consols is $235,542. Constitutional
provisions of 1879, see V. 29, p. 96. The assessed value of property for
1880 is $149,635,805, and whole tax for all State purposes is limited to
6 mills, on which the comptroller estimates a deficit for 1880 of $385,Tax Rate.
Real Estate.
Personal.
626. The interest tax was 5*2 mills before the constitutional amend¬ Years.
$173,693,276
$45,162,467
21.
ment, and bondholders are trying to enforce its collection by suit. There 1875.
173,548,259
45,302,485
2
Is considerable overdue interest of the years 1874 to 1878 inclusive. 1876
175,783,979
45,141,659
2
A suit has been begun by the State of New Hampshire against Louisiana
183,615,738
46,175,304
2*3
on her bonds.
(V. 28, p. 18, 42,173, 224, 526, 553, 624, 641; V. 29, p.
Tax for all purposes in counties averages 17*4 mills.
18, 96, 277,330, 358, 631; V. 30, p. 117.)
Missouri.—The valuation of all real and personal property in 1878 was
Maine.—'The net debt January 1,1880, was $5,848,900. The sinking
fund $1,166,159, January, 1880, reduced the total debt to a net $628,329,312, of which $438,663,920 was real and $173,543,091 per¬
amount of $4,682,741. Tax rate in 1877, 3 mills. For 1878, 3% mills. sonal. Railroads and bridges were assessed separately at $26,122,201;
the
bridges was $509,824,423.
Maryland.—The State has largely assisted canals and railroads, and The gross valuation exclusive of railroads and1878 bonds maturing were
tax rate is 40c. per $100. In 1877 and
bolds $3,585,327 of stocks ana bonds ranked as productive; the State
met by sale of renewal bonds and by sinking fund. The Hannibal & Si.
also holds $25,323,304 in unproductive securities. Assessed valuation
Joseph Railroad provides for its own debt. (V. 27, p. 200, 409.)
and tax rate have been:
Real and
Tax Rate, r
Sinking
Nebraska.—The State school fund holds $326,267. There are also $50,000 10 per cent “ Grasshopper” bonds due 1885, interest paid January
Personal.
Years.
per $100.
Funds.
X875
$427,753,393
20°i6c.
$451,531 and July. Assessedjvaluation (33*3 per cent of true value) and tax rate
17*4C.
1876....
429,112,418
125,264 per $1,000 have been:
Real Estate.
Personal.
Tax Rate.
478,468,028
17*40.
126,642 Years.
$40,234,676
$35,232,722
$7 35
464,425,790
18%c.
134,111
40,589,285
33,589,360
7 35
18 %c.
140,741
509,213,891
37,975,987
.
6 37*s
33,335,591
—(V. 28, p. 42.)
39,263,823
6 37^
35,125,713
Massachusetts.—The funded debt, January 1, 1880, was $33,020,464.
36,981,389
38,378,409
6 37*3
The sinking funds were $12,235,248. The Hoosac tunnel and connections
cost the State about $18,854,024, including interest paid.
Assessed
Nevada.—The debt of Nevada is hardly more than nominal, as the
valuation, tax rate, Ac., have been:
bonds are principally held in State funds.
Personal
Tax per
Real
Sinking
Total
New Hampshire.—The debt of New Hampshire was created for war
Estate.
Debt.
Years.
Property. $1,000.
Funds.
$1,311,031,326 $882,877,758 $14 68 $29,465,204 $13,577,106 purposes. The Municipal loan of 1872 was issued to cities and towns,
1876.... 1,262,141,092 860,958,487 12 80 33,866,464 14,294,238 the proceeds to he applied to their war debts. Total valuation in 1879>
X877
1,191,583,169 822,289,966 12 84 33,550,464 13,635,490 $206,959,017. Tax rate, $2 per $1,000. (V. 29, p. 171.)

t>asis the interest charge per year

....




April,

SECURITIES.

STATE

1880.]

Subscribers will confer a

Immediate notice of any error discovered In these

great favor by giving

INTEREST.

For explanations see notes

New

Hampshire— (Continued)—

1873
1879
1861

Jersey—Way loan bonds, tax free.
bonds, tax free

War loan
do

1863
1864
1875
1872
1873
1873
1874
1879

taxable

do

New York—
Under Art. 7, Sec. 3, of Con-^
stitution, and Art. 7, Sec. 12.s

outstanding.

$100Ac.

1879

Loan of 1879
Prison loan

Amount

or

par
Value.

on first page of tables

State bonds

Hero

Size

Date of
Bonds.

DESCRIPTION.

500 Ac.
100 Ac.
100 &c.
100 Ac.
®
.

1,562,900
847,500
4,302,600
2,000,000
1,500,000
4,738,800
3,639,400
1,890,000
1,469,000
2,231,000
1,657,600
383,045
44,000
11,366,000

.

68167.3,4752 8118769.
Canal debt,

<

North Carolina—Fandlng bonds tax-receivable.
Railroad and improvement bonds, old
Railroad and improvement bouds, old
RR. and iinprov’t bonds, new (not special tax)
do
do
do
do
Funding bonds, since war
do
do

Registered certificates of literary fund
Penitentiary bonds, act Aug. 24, 1868
Special tax bonds

500 Ac.
500 Ac.

••••••

1866
-1868
1867
1868

April 2

do

(registered)

(registered)

Agricultural College land scrip
Rhode Island—Way bonds
War bonds
do
do

South Carolina—State
State House stock.
bonds
do

stock

1853 to ’54
1866

Funding bonds and stock
Blue Ridge Railroad bonds
Funding bills receivable

Payment of interest
Funding bank bills
Conversion bonds and stock
Land commission bonds
Fire loan bonds,

;

Dec., 1873

fundable
not required to be funded

Virginia—Old bonds. 23

Consol.) Act Mar. 71) coup, tax receivable—
do
reg., couv. into coup...
do
(Act 1872) “Peeler,” cp.
Deferred certificates (W. Va.)
do

do

•

.

•

•

1,000
1,000
1,000
1,000

Various

Various

1,000

50,Ac

•

•

•

m

m

m

not rec’ble

.

($500,000 reg.)..

sterling

....

Various

Various

4,072,640

2,400,000
8,000,000
2,000,000
2,000,000
395,000
87,000
9,251,850
723,950
500,000

965,000
200,000
631,000
738,000
17,411
289,172
192,000
238,933
469,000
72,000
149,000
242,350
451,000
13,000
481,944
151,780
7,000
241,257
4,023,000
149,254

1874
Various.
m

m

1872
1871
1872
1874
1876
1879
1802
1851 to ’66
1851

1871

1871
1872
1871
1879
1879

1,000
1,000
1,000
....

1,000

1,000

1,000

1,000
100 Ac.

500 Ac
500 Ac
£100 Ac

4,867,000

14,957,300

15,239,370
8,000,000

400,000

created for w ar purposes. Sinking funds
Jan. 1,1880, were $1,428,545. Of the first class of bonds the principal
is payable $100,000 per year.
Valuation of real property in 1879,
$•126,953,103; personal, $129,809,670; total, $508,892,338, against
$531,851,849 in 1878. State tax was 3^ mills, but the Governor’s mes¬
sage says the tax may be abolished in 1880.
(V. 28, p. 58.)
New For A;.—Valuations and tax rate for State purposes have been;
Real Estate.
Personal.
State Tax.
1876
$2,108,325,872
$357,941,401
New

Jersey.—The debt was

379,488,140
29,0
]
’
364,960,110
2863 1000
1879
353,469,320
North Carolina.—Total property was assessed in 1876-7 at $148,564,557. Tax rate 1878, 38 cents on $100. Interest is paid on bonds issued
to North Carolina Railroad ($2,800,000), as the State holds $3,000,200
stock and receives dividends thereon. Other interest in default.
A
funding bill passed the Legislature February, 1879, which provides for
funding old ante-war bonds at 40 per cent of the face value; “ New ”
railroad bonds recognized as valid at 25 per cent; funding bonds of 1866
ajid 1868 at 15 per cent. All overdue coupons are to be surrendered;
the new bonds run thirty years, and bear 4 per cent interest; coupons
are receivable for taxes, the first coupon of 2 per cent being payable
January, 1881. Special tax bonds arc ignored, and also bonds to
Chatham Railroad 1868, $1,030,000, and to Williamston A Tarboro
Railroad, $150,000, and for Penitentiary under acts of 1868. (V. 27,
2,376,252,178
2,373,418,490
2,333,669,813

1877
1878

p.

678; V. 28, p.

69, 200, 327.)

amount¬
$25,957,588 in 1875, this increase
being mainly in Cincinnati debt. Valuations in Ohio have been as follows;
Real estate.
Personalty.
Real estate. Personalty.
1860
$639,894,314 $248,408,290 1877.$1,084,455,378 $490,190,387
442,561,379 1878 ..1,091,116,952 461,460,552
1876.-1,076,788,367 520,681,599 1879.-1,093,768,904 442,979,885

Ohio.—Ohio has a very small State
ing in 1879 to $41,490,574, against

debt, but largo local debts,

..

2*io mills. (V. 28, p. 69.)
Pennsylvania.—Sinking fund, $8,504,899. Revenue is raised prin¬
cipally from corporations. Taxes are levied on personal property, which
was assessed in 1877 at $159,318,817.
The State holds $1,754,331 in
stocks and $7,900,000 of railroad bonds. Any coupon bonds may be
changed to registered. The bonds due in 1882 are payable at any time
till 1892. (V. 28, p. 43, 149, 600; V. 29, p. 192, 330.)
Rhode Island.—The debt was all created for war purposes. In Jan.,
1880, the net debt, less sinking fund, was $1,828,013. The State valua¬
tion of real property in 1876 (the latest made) was $243,658,190,
and personal, $84,872,369; tax rate 1879,12 cents on $100.
South Carolina.—The funding law of Dec. 22,1873, provided for scal¬

State tax rate,

'




g*
g.
ggg.

A
&
&
&
A
A
A
A
&
A

J.
J.

g.
gg.
g.
g.

Jan.

do
do

do
do

J.
J.

6
6
7
7
7
6
5
6
6
5
6
t

J.
J.
J.

g.
g.

g.
g.

6

6
6
3 to 5
3 to 5

do
do
do

do

A J.
A J.

do
do

A J.

1,1883^

July 1,1891.
Oct. 1,1892'
1909
1868 to ’98
1868 to >98
1868 to T8
1868 to *98

Jan., 1900
Oct., 1898

Indefinite.
Oct.. 1898
1898 to *99

July, 1881
Jan., 1887
Feb. 1,1902
Aug. 1, 1904

July, 1882
July, 1882
Feb., 1882-1892
Feb., 1882-1892
1922

Sept. 1, 1882
April 1,1883
July 1, 1893
Aug. 1, 1894
At pleasure.
1877 to ’86
1871 to’80

July 1,1887*0*92
July 1,1875 to*7»*
July 1,1888
July 1,1888
July 1,1889
July 1,1882July 1,1868.

London.

Q.-J.

Columbia.
J. Columbia A Fis. Agen. N.Y.
J.
New York or Columbia.
J.
do
do
J.

July 1,1868

A J. N. Y., Fourth Nat. Bank.
do
do
A J.
A J. N. Y., Fourth Nat. Bank.
State Treasury.
Various
M. A S. N. Y., Donnell,La wsonA Co.
do
do
J. A J.
do
do
J. A J.
J. & J. New York A State Treasury.
do
do
J. A D.

July 1, 1914

Q.—J.

J. A
J. A
J. A
J. A

6
5 A 6

13,700,000

Various

9

6
6
6
5
6
7
6
6
6

•

533,000
135,500
4,689,119
2,209,207

2,819,547

.

-

1,000,000
1,647,000

819,547

Concord or Boston.
July 1, 1880
A J.
A J. Bost.,Nat.Bk.Commonw’lth July 1, ’89-’9O-’03
do
do
July, 1881 to *91
& J.
A J. Trenton and Jersey City, Jan., 1881 to *84
do
do
Jan., 1886 to’9G& JJan., ’97 to 1902-'.
do
do
"
& J.
Oct., 1893
& J. N. Y., Manhattan Bank.
do
do
July, 1887
J. & J.

do
do
A.
O.
J.
J.
New York.
J.
J.
do
A.
0.
do
J.
J.
do
A..
0.
do
J.
Jdo
A.
O.
6
J. A J.
Raleigh, Treasury.
New York.
6
A. A O.
do
6
A. A O.
6
J. A J. N. Y., American Exch. B’k.
do
do
6
J. A J.
5
F. A A. Phila., Farm. A Mech. B*k.
do
do
4*3 ® 5 F. A A.
do
do
4
do
de
5 g. J. A J.
do
do
4 i^g. J. A J.
do
do
6
F. A A.
do
do
5
F. A A.
Harrisburg Treasury.
6
6
M. A 8. Providence, R. I. H. A T. Co.
do
do
6
A. A O.
do
do
6
J. A J.
do
do
6
F. A A.
3 gQ.—J. Columbia, State Treasury.
de
do
6 g. J. A J.
do
do
6
J. A J.
6 g. J. A J. Columbia and New York.,
Columbia, Treasury.
6 g. J. A J.
6 g. A. A O. Columbia and New York.
do
do
6 g- A. A O.

397,000
75,000
692,000
500,000

100,Ac.
100,Ac.
100,Ac.

Whom.

J.
J.
J.
J.
J.
J.

6
6
6
6
6
6
6
6
4
6
6
6
6
6
6

-

4,797,608

Bonds, act Mar.,1874 (for paying float’gdebt)
Redemption of debt, act Aug. 6, ’76
Bonds, act April 21, 1879
Vermont— War loan bonds, registered

do

50 Ac.
50 &c.

1873

def’se,gold,act Aug.5,’70(red’ble ’91)
deficiency bonds, act Dec. 2, 1871..

funding bonds, 10-40s,

1,000
1,000

1873

act)

bonds, act of 1873....
Bonds regist’d, act of 1873,($292,300 are 5s).
Held by E.T. University (not to be funded)...
Texas—Funding State debt (act May 2,1871)..

New

Ac.
Ac.
Ac.
Ac.
Ac.

100
100
100
100
100

....

endorsements

Old bonds, sterling,

1,000

m

sterling

Tennessee—New funding

Revenue

....

•

stock, domestic
Bonds—Relief State Treasury..
Reduction of Public Debt stock
Consolidated bonds, coup. (Funding
do
stock (Funding act)

Frontier

1.000
100 &c.
100 Ac.

1854
1,000
1868
1,000
1868
1,000
1868
500,Ac.
1869
500,Ac.
1869 to ’70 500,Ac.
1838
1838
1869

do

Railroad

1,000

1,000

1860
1856
1877
1879
1879
1852
1852
1867
1867
1872
—
1862
1863
1863
1864
1794
1836 to’61

1881
Registered loan, payable after Dec., 1886 —
Pennsylvania—Reg. bonds, tax fr., (red’ble ’92).
Registered bonds, tax free, 15-25 years
Loan
Coupon loan (except $53,000 reg.), April 2
Ohio—Register’d loan, payable after June,

Stock loan of Feb. 2
do
do

Asa's

$50 Ac.

Due.

Payable and by

J.

5

300,000
140,000
500,000
900,900^
595,400
473,000

Where

Payable

6

$200,000

1,000

When

Rate.

Tables.

Principal—When.

J.
J.
J.

J.
J.
J.
J.
J.
J.
J.
J.
J.

A
A
A
A
A
A
A
A
A

D.
J.
J.
J.
J.
J.
J.
J.
J.

Montpelier, Treasury.
New York.

London, Baring B. A Co.

Richmond, Treasury,
do

do

1888

July 1,1893
July 1,1893
1875 to 1900
Various.
1891

1911
1892
March 1.1904

July, 1906
1909
Dec. 1, 1890
1886 to *95

1886
1905
1905
..i...

Contingent
1919
1919

conventas*

ing down the old debt 50 por cent, and declared void the
bonds to the amount of $5,965,000. The question of the vattdtttor
of consol, bonds went before the State Supreme Court. See decision v—
29, p. 358. (V. 28, p. 18, 378, 402; V. 29, p. 358, 383 ; V. 30, p.

118.)
total1
$4,156^-

Tennessee.—New funding bill was given in Vol. 28, p. 353. The
debt January, 1879, was $20,221,300 in outstanding bonds, and
522 in overdue interest; there were also $416,000 bonds yet to
renewed and $373,000 yet to be registered. The State's endorsement* for railroads are

of by the roads. Ten¬

$1,308,000, which fa token care

bonds sold in New York as “ old.” are those issued before
“New,” issued since 1862; “New Series,” the now funding
Assessed valuations and tax rate per $J ,000 have been:
nessee

1862

bandk.

Personalty. T&xRotet
$4
$37,213,908
• 4
28,632,000
212,589,045
24,319,803
1
202,340,815
20,871,338
X
196,165,644
16,952,036
1
—(V. 28, p. 174, 200,277,353, 429,454, 526, 580; V. 29, p. 226,272, 27&>
Texas.—The old high-rate bonds have been redeemed and low-intamfc .
bonds issued. Assessed valuations and rate of tax per $1,000 have beenc.
Years.
Real Estate.
Personalty.
Total Val’tion. TaxRsta*
$174,324,176
$83,307,833
$257,632,009
$5
212,698,432
106,237,273
318,935,70$
5
187,722,374
115,480,050
303,202,424
5
- 300,525,407
&
186,297,495
114,227,912

Years.

Real Estate.
$240,806,626
239,370,485

—(V. 30, p. 314.)
Vermont.—Of the registered bonds $135,500 are
College. Assessed value of real estate, 1879,

held for Agricultural:
$71,017,881; personal,.

$15,375,533; tax rate, $4 per $1,000.
Virginia.—The law of April, 1879, for refunding the debt, fa given im
Chronicle, Vol. 28, p.,353. The new bonds are 10-40 year bonds, and
bear 3 per cent for 10 years, 4 per cent for 20 years, and 5 per cent for10 years.
The “ Riddleberger ” bill, March, 1880, scales the debtto about $20,000,000, with interest at 3 per cent. The funding aet of
1871 provided that coupons of the funded bonds should be receivable
for State taxes.
For two-thirds of the old bonds a new bond was issued*,
and for the other one-third a deferred certificate given (as the proportion,
due from West Virginia). The act of 1872 amended that of 1871 by not.

allowing coupons to be received for taxes. Assessed values in 1878.
were: real estate, $242.702,503; personal, $73,984,368;
total, $316,686,872. Tax rate, 5 mills. The Governor, in January, 1880, figure*.
the net revenue for 1879-80 at $2,586,078, leaving $1,397,517 to pay
the interest of $1,075,735 on all the debt if funded under act of 187ul
(V. 28, p. 44, 70, 97, 121, 147, 174, 328, 358, 429; V. 29, p. 198, 331„
505; V. 30, p. 163, 223.)

8

SECURITIES

CITY
Subscribers will confer

a

great favor by glrlnx Immediate notice of any error discovered In these Tables.

DESCRIPTION.

Date of

Size

value.

New Post Office site.

High School
Water stock

Western Avenue improvement bonds.
Bonds loaned to Albany & Susquehan
Atlanta, Get—Bonds for streets,&c

Bonds for West. RR. and floating debt
Bonds, 1st and 2d series, waterworks..

Redemption bonds

outstanding.

$1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000

1,000,000

New bonds (for

of 1890.

500 <fcc.

500 &c.

1,000

City Had

do
do
Consolidated loan
Court house loan

Funding loan

Valley Railroad

Water loan

100 &o.

1870

Western Maryland Railroad
Jones’ Falls ($334,600 arc 5s)

($263,000 only

are

6s)

Endorsements for Western Maryland RR
do
do
Union Railroad

.jue.—r uuu. ueuiare

d»,

1,000,000
2,211,068
410,353
555,566

185,723
5,000,000
1,000,000
1,000,000
1,000,000
500.000

•

•

.

•

....

Bangor, Me— City debt proper
1858 to ’72
Municipal loan
1874
Water loan bonds, coup. (Act Feb. 22, 1875).
1875
European & North American Railroad....
1869
Bangor & Piscataquis Railroad
1869
Railroad loan

7,306,546
5,000,000

....

......

o/, «j

......

Androscoggin Railroad.

1861
Knox & Lincoln Railroad ($23,750 each
1869
year)
do
do
1871-’72
(F.&A.and M.&S)..
Boston— For city purposes, war debt. »fcc
1852 to ’64
For city purposes
1864 to ’80
do
do
1878-’ 79
registered
do
do
do
1S79
Burnt district, sterling loan
1873
1869
Roxbury debt, assumed
1860 to’64
Dorchester debt, assumed
1861 to’69
Charlestown debt, assumed
1862 to’73
Mystic water debt, assumed
1862 to ’76
Brighton debt, assumed
1868 to ’73
West
Roxbury debt, assumed
Water loan, Chestnut Hill reservoir
1867 to ’71
do
renewal of loan due ’70-71, all reg.
1871
do
do
1
’72-73
1872
Water works, Roxbury, coupon and registered 1868 to ’70
do
1871 to ’74
Roxbury & Dorchester
do
Dorchester, all registered
1871
do
W. Roxbury <fc Brighton, j
1875 to’77
"do
do
1876
re;
Additional supply water
1872 to ’75
,do
do
1878-9
registered
‘do
do
do
1878
do
do
do
1879
,.t
Various purposes, for water works
1871 to’74
Water loan bonds, gold, coupon or reg
1875-’70
Public park and school buildings, registered..
1877-’7S
Improved sewerage, registered
1877-’78
Improved sewerage bouds, coup, and reg
187S-’79
Brooxlyiir—Debt of Williamsburgh, local lmpr’t 1859 to ’61
Brooklyn local improvement loan
1861
Mount Prospect Square loan
1857
|
Soldiers’ aid fund loan
1865
.
Third street improvement loan, local
1867
Gowanus canal improvement loan, local
1866
Bushwick avenue
do
do
do
1865

100 &o.

1,000

500 «&c.

1,000

1,000
Various.
Various.
Various.
Various.
Various.

1,000
1,000
•

•

•

925,000
102,500

193,000

425,000
475,000
420,600
3,179,500
10,745.000
516,003
450,000

•

....

£100&c
£100&e

1,000

Various.
500 &c.

1,000

Various.
Various.

1,000
....

£100 &c

1,000
1,000

4,997,604
3,332,107
287,000
68,500
1, v/00,\)0(j
1,153,000
57,141
330,000
1,725,000
688,000

1,947,273
385,000
415,000
375,000
360,000
100,000
648,000
670,000

....

....

1,000
....

....

....

1,000
1,000
....

....

100 <kc.

12,000

268,000
426,000
3,452,000
550,000
168,000

1,230,000

1,000
1,000
1,000
1,000
1,000
1,000
1,000

Albany.—'The loan to Albany & Susquehanna is secured by first mort?e.
The valuation of city property in 1878 was: Real estate, $32,594,-

personal, $3,748,800, estimated to about one-third of true value.
City tax rate 1879, 2-84, against 3-20 last year.
Atlanta.—The total bonded debt Jan. 1, 1879, was $1,815,500;
floating
debt, $382,415. Assessed value of real estate in 1878, $12,230,000;
personal, $5,766,530. Tax rate for all purposes, $2 30 per $100.
Augusta.—Of this debt, $600,000 was issued for railroads, and balance
for canal enlargement, water works, &c. Sinking funds,
January, 1880,

4,692,370; tax rate, $1 50
t73,500. Taxable valuation: $100. (V. 28, $9,049,355; personal,
Real estate, 17.)
per

6
6
8
7
8
7
8
10
7
6
6
5
5
6
6
6
6
6
6
6
6
6
5
5

77,000
52,000

943,161
85,900
800,000
1,000,000
1,134,600
1,015,300
4,815,800
1,375,000
117,000
136,000
100,000
500,000
1,000,000

p.

Baltimore.—The fiscal
year of Baltimore ends now with December 31,
Instead of October 31. The total of all sinking funds, January, 1880,
was $7,091,719.
The Baltimore & Ohio Railroad pays interest on
$5,000,000: Water loan is paid by income of water works, and Public
Park by City Passenger Railway, and against a total debt of
$35,023,798,
the city has $18,915,623 productive assets,
leaving $16,108,174, against
which are held $4,807,472 of unproductive assets; interest is raised
by
fixation on $13,119,953 of debt. Population in 1870 was
267,354, against
212,418 in 1860. The assessed valuation and rate of taxation have been:

Real
Personal
Total
Rate of Tax
Years.
Estate.
Property.
Valuation.
per $1,000.
1875
$163,543,800
$71,000,000
$231,365,863
$19 72^
1876
162,539,157
70,000,000
228,816,110
19 72^
1877
178,572,032
77,533,309
256,105,341
19 72^
1878
179,958,592
70,308,003
249,266,595
19 00
1879
183,580,023
60,463,158
244,043,181
15 00
1880
187,387,000
65.613,000
252,900,000
13 70
—Assessed valuation is near the full cash value. (V. 29, p. 562.)

38,000
213,000
90,000
552,000
302,000
188,000
183,000

M.
M
F.
F.
F.
M.
J.
J.
J.
J.
J.
M.

6A7

2,033,000

100 &c.
100 &c.
100 <fcc.
100 &c.
100 &c.
100 &c.
100 &c.
100 &c.
100 &c.
100 &c.
100 &c.
100 &c.
100 &c.
100 &c.
100 &c.
100 &c.
100 &c.

1873
L874

Park improvement loan

New
do
do

1,000
250 «fec.

I

Where

Payable 1
F. & A.
M. & a

7
7
6

430,000

500 &c.

When

!

payable and by

&
&
&
&
&
&
&
&
&
&
&
&

Boston, Merchants’ Bank. Feb., 1885 to *94
New York.

1910-’20

do
do
do
do

May 1,1904
May 1,1880 to *85

Augusta.

1880 to 1903
June 1,1899

N.
N.

A.
Feb., 1881
A.
Feb. 1,1893-1912
A.
do
Feb. 1.1883-4-5
N.
New York.
1895-’97
J. Atlanta & N. Y. Park Bank.
1881,'86 & *92
J.
do
do
J. & J., 1890
J.
do
do
J. & J., 1902
J.
do
do
Jan,1, 1904
J.
do
do
Jan. 1, 1897
S.
do
do

<k D.

Q.-J.

M.

March, ’80 to 1900

do

Various
J.

Due.

whom.

5, 6 & 7 Various

436,000
400,000
418,000

1,000

1872
1872

Funding loan, reg. stock, tax free.
Consolidated bounty loan
Exempt bounty loan
Public parks (Druid Hill)

6
7

448,000
664,000
113,000
70,000
230,000
900,000
165,000

6778811
do

Rate.

$150,000

1,000

1866
1870-’71
1870-’78
1874
1875
1851 & ’52
1874-’77
1877
1865
’66-’67-’72
1869-’70
1872 &’77
1874
1877
1875
Various.
1879
Various.
1877
1878
1863
1865
1860
1863
1853
1853
1868
1870
1874
1864

City improvement.

INTERE8T.

Amount

or

par

Tor explanations see notes on first page of tables.

$63,000)
Baltimore—Consolidated loan

[Vol. XXX.

N.

Sept. 1, 1885

bn

Balto., Farm. & Plan. Bank.

July 1,1890
July 1, 1916
After July, 1916

Balto., N. Mechanics’Bank.

M.& N.

do
do
M & 8. Balto., N. Mechanics’ B’k
& S.
M.
do
do
.—M.
do
do
J.
do
do
.—J. Balto., Farm. <fe Plan. Bank.
J. & J. Balto., N. Mechanics’ Bank.
|i J • Balto., Farm. & Plan. Bank.
J.
do
do
J.
do
do
do
\.-J.
do
J. Ralf/t., N- Mechanics’ Bank

6

Sept. 1, 1893
Sept. 1, 1893
Sept. 1, 1890
Jan. 1, 1895
Jan. 1, 1890
Jan. 1, 1886
July 1, 1884
April 15, 1900
March 7, 1902
After 1885
At will.

>,-J. Balto., Farm. & Plan. Bank.
July 1,1900
J. & J. Balto., N. Mechanics’ Bank.
Jan. 1, 1902
5& 6
do
Q.—F.
do
April 9, 1900
6
A. & O.
do
do
Oct. 31,1886
5 &6
J. & J. Baltlmore.Register’s Office.
July 1,1894
6
J. & J. Balto., N. Mechanics’ Bank. Jan. 1 ’90 & 1900
6
J. & J. Baltimore, Franklin Bank.
Jan. 1,1895
6
Various Boston, Merchants’ N. B’k.
1880 to ’92
6
J. & J.
Boston or Bangor.
Jan. 1,1894
6
J. <fc J. Boston, Moroh’ts’ Nat. B’k.
July 1, 1905
6
J. & J.
do
do
Jan. 1, 1894
6 & 7
& O.
A.
do
do
April 1. 1899
5 & 6
|M. & 8
City Treasury.
1887 & 1898
6
Various
do
’83, ’85 & ’98
6
A. & O City Treasury and Boston.
April 1, 1891
6
J. & J.
do
do
July 1,1880 to’99
6
Various
do
do
1891 & 1902
5 g- Various Boston, Treasurer’s Office.
1880 to ’87
6
Various
do
do
1880 to ’97
4
Various
do
do
1887-’89
4: In
A. So O.
do
ilo
!
Oct., 1889
5 & A. Si 0. Loudon, Baring Brothers.
April. 1893
5 g. J. & J.
do
July, 1899
5, 5*2, 6 Various Boston, Treasurer’s Office.
1880 to’84
7
Various
do
do
1880 to’81
o & 6
Various
do
do
1882 to’93
5 & 6
Various
do
do
1881 to ’94
do
6*a <fc 7 Various
do
1880 to’81
do
6*fl&7 Various
do
1880 to ’91
6
Various
do
do
1880 to 1901
A. & 0.
6
do
do
April, 1901
5 g. A. & 0. London, Baring Brothers.
Oct., 1902
6
Various Boston, Treasurer’s Office.
1880 to ’99
6
Various
do
do
1901 to 1903
J. & J.
6
do
do
Jan., 1901
5 & 6
do
Various
do
1905 to 1907
5 g. A. & 0.
do
do
April, 1906
6
Various
do
do
1902 to 1905
4
A. & 0.
do
do
1908-1909
5
A. & 0.
do
do
1908
A. & 0.
do
4^
do
Oct., 1909
6
Various
do
do
1901 to 1904
5 g. A. & 0.
do
do
1905 & 1906
do
Various
4^
do
July & Oct., 1887
A. & 0.
5
do
do
Oct., 1897
4
J. & J.
do
do
Jan. 1, 1899
6
J. & J.
1880 to ’81
Brooklyn.
3 a r
M. & N.
7
do
1891
6
J. & J.
do
1887
*
7
J. & J.
do
1885 to ’94
^
r
6 & 7
J. & J.
do
1881
7
J. & J.
do
1880 to 90
5*
J. & J.
7
do
1880 to’90
0
« 1
6

*

.

-

•

|s£

Bath, Me.—The city holds a first mortgage on the Androscoggin road
debt, and second and third mortgages on the Knox & Lincoln for
its proportion of $895,000 out of a total of $2,395,000 bonds issued
by
several cities in aid of the latter road. Tax valuation, 1877, $7,267,690;
tax rate, $24 50 per $1,000.
Boston.—The population of Boston in 1870 was
292,497, against
177,840 in 1860; in 1875 it was 341,919. The total funded debt April
30,1879, was $42,359,816.
The tax levy is divided as follows: State,
$206,370; county, $369,200; city, $6,916,940. The rate on $1,000 Is
divided as follows: State, 20 cents; county, 46 cents;
city, $11 84.
The total number of polls is 89,450, a gain
of3,539. Assessed valuation
for five years have been:
for the

Real
Estate.

Personal

$558,941,000

$235,020,895

526,157,900
481,407,200
440,375,900

222,838,310

Years.
1875

1878
1879

Estate.

.

205,433,386

Tax
Rate.

Net Debt.

$13 70

$27,294,208

12 70
13 10
12 80
12 50

27,052,778

190,070,966
428,786,300
183,467,300
-(V. 28, p. 145.)
Brooklyn.—The whole city debt was as follows

26,229,666

on

January 1,1879

$18,185,000

and 1880:
Permanent debt
Water loan

$18,693,000

1879.

11,216,500
9,756,000

Temporary debt
Tax certificates
Total
Less sinking

27,480,524
26,159,777

1880.

11,216,500
9,688,000

3,100,000

$42,257,500

fund

3,120,000

$42,717,500
5,152,130

4,781,978

Bangor, Me.—The loans to Eu. & No. Am. R. R. to Bangor & Pis. R. R.
Total debt
$37,475,521
$37,565,369
secured by first
mortgages on those roads, and interest mostly paid
Population in 1870, 396,200, against 266,661 in 1860. Valuation of
from the earnings. Valuations (near full value) and tax rate have been:
property and tax rate per $1,000 for five years have been:
Years.
Real Estate.
Tax rate. Years.
Personalty.
Real.
Personal.
Rate.
1876
$6,804,217
$3,664,939
22*50
$208,904,750
$16,287,125
$34 27
1877

are

1878
1879

6,703,527
6,598,927
6,381,853

3,202,573

3,043,534
2,692,211

—Municipal property, including water works, about $800,900




30*25
21*33
22*50
fc.

3879....

213,134,543

218,373,093

13,878,580
13,111,215
14,968,911

32 54
31 72
27 00

221,000,000

11,900,000

25 50

216,481,801

CITY

APRIL; 188°.]
Subscriber* will confer

a great

Date of
Bonds.

Size or
par
Yalue.

first page of tables

Brooklyn—( Continued )—
South Seventh st.improvement loan, local
do
do

do

do
do

..

outstanding

260,000
346,000
406,000
3,000,000
5,150,000
8,019,000
1,217,000
9.777.500
1.439.500
1,650,000
100,000
4,530,000
618,000
842,000
3,120,000
2,099,250
1,000,000
700,000
2,729,382
100,000

■

607526781 778811
1864
1,000
1863
1,000
1856 to ’76 500 Ac.
1873-’74
500 Ac.
500 Ac.
1874-5
1866
1,000
1866 to ’77 500 Ac.
1865
1,000
1867 to’75
1,000

do
do
do
do
Water loan
do
do
do
do

1869-71

1,000

Charleston, 8. C.—City stock

1853 to ’54
coupon
Fire loan bonds, coupon
1S66
Conversion bonds, to redeem past-due debt...
do
1879
coup, or reg. (non-taxable)

City bonds,

Chelsea, Mass.—Funded debt,
Funded debt, coup

100 Ac.

1,000
1,000
1,000
1,000
500,Ac.
1,000
1,000

coup

do
Water loan, coup

Chicago—W ater loan
Water loan

Sewerage bonds
do

500 Ac.

Riyer improvement bonds
1,000
Municipal bonds
1,000
500 Ac.
Municipal and School bonds
South Park loan (secured on South. Div.)
West Chicago Park (secured on West. Div.)...
1870
1,000
Cook County debt
1863 to ’72 500 Ac.
Cincinnati- Loans to Railroads.F, A, G,H,IA M 1844 to ’54
1,000
Bonds to O.A M. RR. to purchase whf. prop.N
1855
1,000
Bonds for erection of a Workhouse
1868
1,000
Bonds for Water Works
C2A03
1868
1,000
Bonds for Common School purposes
P 1860 to ’61
1,000
Bonds to O. A M. RR. to purchase whf. prop. .N
1855
1,000
Bonds for ext. and impr. Water W..C, D. &E 1847 to ’50 500 Ac.
Bonds for funding floating debt
A2 1847 to ’48' 500 Ac.
Bonds for new Hospital
8AS2 1867-’68
1,000
Bonds for funding floating debt
1853
1,000
L
Extension and improve. Water Works.. .K AF
1853
1,000
Bonds to purchase Orp’n Asyl. grds. for park.O
1,000
1858,
Bonds for sewerage
1869
1,000
R
Bonds for improving Gilbert avenue
1869
U
1,000
Bonds to build Eggleston avenue sewer... .B3
1869
1,000
Bonds for improvement
1871
...W
1,000
Work purposes
Bonds for Water
C4AC5 1871-’72
1,000
General improvement
1871
W2
1,000
Cincinnati Southern RR
do
do
do

do
do
do

Floating debt bonds,
Park improvement

($3,142,000

are

gold 6s)

coupon

Water-works bonds
Bonds for McLean Ave.

D1
U2

sewer

Hospital bonds
Street improvement bonds, short

The

1872-’74
1874
1876
1878
1874
1875
1875

500 Ac.

1,000

500 Ac.

1,000
1,000
1,000
1,000
1,000

1876
1876-’77

100,000

704,632
50,000

7

7

5, 6 A 7
7

6
6
7

4, 5, 7
7

4, 5, 6,
7
7

136,000

i

J,
J
J
J
J
J.
J.
J
J.
J.
J.
J.
J.
J.
J

5,

do
do

Real estate.

Personalty,

$91,130,870

$8,844,705

80,929,165

7,947,380

Buffalo also pays 7-10 (being
bonds

per

$1,000.

$12 43
17 60

$712,390) of Erie county debt. Coupon

exchangeable for registered.
Cambridge, Mass.—The sinking funds amounted to $605,281, Novem¬
ber, 1879. The investments are nearly all in city bonds at par and
stamped “ not negotiable. Only $52,000 debt matures before 1881.
Tax valuation, 1875, $66,623,014: 1877, $55,000,000; 1879, $49,238,098. Total debt, November, 1879, $3,254,000. Population, 1875, 47,838.
Charleston, 8. C.—The bonds of Charleston are mostly held within the
are

State of. South Carolina.

exchange for city stock.
Years.

Conversion

bonds of

1879

are

issued

in

Assessed valuations and tax rate have been:
Real
Estate.

Personal

Property.
$9,000,990
7,922,155

1. $18,805,480

18,669,623
18,313,450
17,137,255

'

8,108,706
6,272,458

Rate of Tax
per

$1,000.

$20 00
22 50
22 50
20 00

Map, 1877, as a violation of this
city scrip of 1878 valid. Of the
account of the Water Works, which in

funded debt, $4,248,000 is on
1878 yielded an income of $897,176.




eS c

do i
do

do
do
do
do
do

3 years
3 years
3 years

gg
§«

from date
from date.
from date.

1880
1875
1878-1881
1879 to 1895
1893 to 1895
1881 to 1893
1879 to 1926

O

O

-

"

7
7

7

7
7
7
7

„

,

Years.

■.
Assessed Value.
Personal.
Real Estate.

$253,557,900
131,222,460

$38,061,170

,....116,082,533
....104,420,053

32,317,615

36,815,718
27,561,383

Tax

Rate.

$29 4o
24 08
27 4o
28 6

The assessed value of real estate is about one-half of its true value'
Population in 1870 was 306,605, and in October, 1878, 436,731, againsiv

109,260 in 1860.

The South Park, West Chicago Park and Lincoln Park

loans are not debts of the
p. 223.)

city, but of distinct corporations.

Cincinnati.—In addition to the issues above named there

several smaller amounts,

as

(V. 28,

remains

follows: $108,000 5s, November, 1884 ;

population was 216,239, against 161,044 in 1860.

The following table

County, Ohio, exhibits the
assessed valuation of the city of Cincinnati in the year 1860, and from
from the books of the Auditor of Hamilton

1870 to 1879:

Years.
1860

Chelsea, Mass.—Sinking fund, January 1,1880, $123,304, and gross
debt, $1,661,800. Tax valuation, 1879, $15,377,402; rate, $1 76. Total
debt, $1,591,252. Population, 1875, 20,737.
Chicago.—The net funded debt January 1, 1879, was $13,057,000.
Old certificates of indebtedness,
$321,000. Advances and warrants,
$2,210,401. Assessed value of real property, 1878, $104,420,053; per¬
sonal, $27,561,383—total, $131,981,436. Tax rate, 1878r$2 86310 on
the Illinois State valuation, and the city debt is limited to 5 per cent of
that. A decision of the Illinois Supreme Court in February, 1878, held 1878
the certificates of debt issued prior to
and void. A subsequent decision held

I.%

Various
Buffalo and New York.
Various
Buffalo.
Various
Buffalo and New York.
Various
do
do
N. Y., Gallatin N. Bk.
J. A J
July 1,1896
M. A S.
Buffalo A New York,
Prior to 1936
do
do
6 A 7 J. A J.
July, 1879-’83
5
M. A S.
do
do
8ept. 1, 1898
5
Various
do
do
1899
5
Various Boston, Bank Redemption,
1879 to 1882
5
A. A O.
do
do
April 1,1889
5 g. J. A J.
Jan. 1,1893
Boston, Tremont Bank.
6
J. A J Boston, Bank Redemption, Jan. 1,1881 to '96
6
J. A J.
do
do
Jan. 1, 1903-4-5
A. A O.
6
do
do
Apr.A Oct. l,’84-5
6
J. A J.
do
do
July 2,1886
6
J. A J
do
do
July 1,1881 to’97
6
F. A A.
do
do
Aug. 1,1883
A. A O.
6
do
do
Apl. 1,1887-1895
M. A N.
6
do
do
May, 1889-1891
6
Charleston,
1878 to ’98
Q.-J.
6
Various
do
1883 to ’84
7
J. A J.
do
1890
A. A O.
7
do
4
J. A J.
do
1909
A. A O. Boston, N. Bk. Redemption
1879 to 1883
5*2
6
do
Various
do
1879 to 1895
7
F. A A.
do
do
Feb. 17,1883
6
F. A A
do
do
Aug. 1,1887-’95
6
New York and Boston,
J. A J.
1880 to ’98
do
7
do
J. A J.
July 1, ’82 to ’9o
do
do
6
J. A J.
July 1,1880
do
7
J. A J.
do
1880 to ’95
7
do
1890 to ’95
J. A J.
do
6
A J.
do
do
July, 1895 A ’96
7
do
do
J. A J.
1881 to ’99
do
7'
do
J. A J.
(?)
7
J. A J.
1890
New York (see remarks.)
7
M. A N. N. Y., Metropolitan Bank.
May 1,1880-’92
6
Various N. Y., Am. Exchange Bank,
1880 to’84
do
6
M. A N.
do
Nov., 1885
do
do
3-10 J. A D.
June, 1888
do
3-10 Various
do
1888 A 1889
6
J. A J.
do
do
Jan., 1890
do
M. A N.
do
6
Nov., 1890
do
A. A O.
do
6
April 1,1895
M. A N.
do
do
6
March, 1897
do
do
1897
3-10 Various
do
do
J. A J.
6
Jan., 1900
do
June A Oct.. 1900
6
Various
t,
do
M. A S.
Cincinnati.
6
March, 1908
3-10 M. A 8. N. Y., Am. Exch. Nat. Bk.
Sept., 1899
do
3-10 M. A S.
do
Sept., 1899
do
do
3-10 A. A O.
Oct., 1899
March 1,1886
do
do
3-10 M. A S.
F. A A.
do
do
7
Aug., 1886-’97
Dec. 1,1891
do
do
7
J. A D.
do
do
7
J. A J.
July 1, 1902
do
do
3-10 J. A J.
July 1, 1902
New York or London.
May 1, 1906
or 7*3 M. A N.
M. A N. N. Y., Am. Exch. Nat. B’k. Nov. 1, 1908-’09
A 7
M. A N.
do
do
7
May 15,1904
do
do
Jan. 1, 1896
7
J. A J.
do
do
7
Aug.,’85. ’90 A’95
F.& A.
do
do
M. A N.
A 6
May 1889-1909
do
M. A N.
do
7
May 1,1906
1880 to’83

(V. 28, p.41.)
Buffalo.—In 1875 real and personal property was assessed at
$39,968,105; in 1876 rule of valuation changed and assessment was
$111,995,905. Since that date valuations have been:
Tax Rate
,

®

do
do
do
do

twentieths.

Years.

«e

do

.

450,000
600,000
580,000
7
9,237,000
5,078,000 6g.
6
2,000,000
1,000,000
50,000
300,000
5
175,000
50,000
395,291

Kings County, separate from the debt of Brooklyn, is
$4,000,000, of which the city is responsible for nineteen-

1880 to ’90
1880 to’86
1880 to '95
1880 to ’90
1901 to ’24
1907 to 1912
1915 to *24
1915 to ’24
1881 to 1908

Brooklyn,

debt of

alK>ut

Due.

Wnpm.

6 A 7
7
7
7
7
6
6

175,000
100,000
150,000
150,000
100,000

.

A
A
A
A
A
A
A
A
A
A
A
J. A
J. A
J. A
J. A
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.

Principal—When

Where Payable and by

Payablej

7
7
6 A 7

175,000

99,000
100,000
150,000
1,597,000
689,000
514,000
100,000
774,000
55,000
485,000
162,000
1,603,150
51,500
231,400
500,000
3,235,900
149,000
1,170,000
100,000
200,000
624.500
3,625,000
87,000
2,543,000
2,611,000
195,000
3,408,000
2,000,000
640,000
4.191.500
1,062,000
210,000
250,000
300,000
99,000
195,000
397.500
146.500
750,000
60,000

When I

Rate.

$218,000

.

....

City bonds

INTEREST.

Amount

1866
$1,000
1867
1,000
1862 & ’67
Fourth avenue
do
1,000
1867
Wallabout Bay
1,000
do
do
New York Bridge loan, registered and coupon
1870
1,000
Bonds for N. Y. & Brooklyn Bridge, cp. orreg.
1876-’79
1,000
Prospect Park loan, registered and coupon ... I860 to '73
1,000
1860 to ’72
Prospect Park loan
1,000
1857 to ’72
Permanent water loan
1,000
do
1872 to ’75
do
1,000
1877-8-9
1,000
Sewerage fund bonds, continuous, local
do
do
S’th B’klyn 1877-8-9
1,000
Assessment fund bonds, continuous, local
1877-8-9
1,000
Central and Knickerbocker av. sewer bonds..
1870
1,000
Boulevard bonds
1873
1,000
1876 to ’78
Temporary tax certificates
1853 to ’75
Buffalo, N. r.—Funded debt bonds
1,000
Buffalo & Jamestown Railroad
1873 to ’75
1,000
Buffalo New York & Philadelphia Railroad... 1871 to ’73
1,000
Water works bonds
18G8 to ’76
1,000
Water bonds, coupon
1876
Park bonds (Act May 17,1875)
1876
1,000
Tax loan bonds
1876-77-78
Water bonds, leg
1878
1879
1000 Ac
Bonds, coup, or reg
1858 to ’63 500 Ac.
Cambridge, Mass.—City bonds

Union street

9

favor by giving Immediate notice or any error discovered In tltese Tables.

DESCRIPTION.
For explanations see notes on

SECURITIES.

The

Real
Estate.

$61,620,904
78,736,482
123,427,888
119,621,856
121,479,280
123,231,790
125,976,835
127,143,900
129,043,880
..........

Personal
Estate.

$31,411,912
57,370,754
56,934,044
55,462,410
64,166,460
58,708,284
58,521,730
56,809,066
43,830,188

Total

Valuation.

$93,032,716
136,107,236

180,361,932
175,084,296
185,645,740
181,950,074
184,498,565
183,952,966
179,430.142

1728’4/KH
1€9,305,035

city is the sole owner of the stock of the Cincinnati

road, which is leased to a company formed to operate it.
172, 251, 280, 677; V. 28, p. 624; V. 29, p. 17.)

Rate tax
per

$1,000.

$17
31
22
20
23
23
28
27
29

45
60
20
10
06
38
82
04
10
28 54

Southern Rail
(V. 27, p. 94

SECURITIES.

CITY

TO
Subscribers will confer a great

favor by giving

[Vou xxx.

immediate notice of any error

discovered In these Tables,

INTEREST.

Date of
bonds.

DESCRIPTION.
For explanations see

notes on first page of tables.

6 p. ct.).

dereland— Water works ($225,000 are
Funded debt ($100,000 are
Take View Park

0 p. ct.)

Canal and canal lock
School (.$294,000 are 6 p. ct.)
House of Correction
Main sewers, special assessment
Street improvem’ts do
Street damages, 6cc., do

Infirmary and River dredging

Viaduct (mostly F. 6c A., A. 6c O. and
Vet Moines, Ioica—Bridge bonds
Renewed judgment and loan fund

Size

J. 6c D.)

outstanding.

Public Building stock (City Hall) bonds
Public sewer bonds ($40,000 are Os)
Bonds for

355,000
184,000
493.500

1876-77-78
1873 to ’78

1,000
1,000
1,000
1,000

830,300
1,066,300
128,000
2,135,000
174,000

1870
1875
1878
1855 to ’59
1855 to ’76
1859 to’71
1872 to ’76
1879
1871 to’74

1,401,000
600,000
340.500

1,000
1,000

1869
1869

1,000

100,000
254.500
736,000
90,000
66,000
2,471,000
698,000
241,000
250,000
100,000
96,000

1,000

200,000

1870

1,000

1,000

300,000
300,000
105,000

1,000
1,000
1,000
1,000
1,000

1870 to’75
1872 to ’73
1865 to ’66
1875-’76

Tax arrearage bonds
i,Evansville, Indiana.—E. H. 6c N. ItR. bonds
City wharf bonds
E. C. 6c P. ItR. bonds
*

1808

i...

do
do
"Water works bonds

Redemption bonds
•

175,000
130.400

1876
1876
1877
1878

Elizabeth, N. J— Improvement bonds
Funded debt bonds
School House bonds
Market House bonds
-Consolidated improvement bonds
Funded assessment bonds...

do
do

do
do
do

1,000

do

1,000
1,000
1,000

Large.
1000&C.

rWall Biter, Mass.—City notes
City bonds

1,000
1,000
1,000

do
do

Water loan

1,000
1,000

do
do

1872
1873
1871

Fitchburg, 3/ass.—City notes
City bonds
Water loan

1,000
1,000
1,000

1875
do
*Qalveston, Texas- Bonds for various purposes... 1869 to ’75
limited debt bonds (sinking fund 2 per cent). 1877-8-9
Bonds to purchase
Galveston County

1873
1876

blk. 321

bonds, G. C. 6c S. F. RR —

50,000
125,000
475,000

1,000

202,000

1,000
1,000
1,000
1,000

500,000

1,000

Water bonds
do
do

City bonds (II. P. & F. RR )
Park bonds (4 of these bonds are for $500 each)
Funded debt

Capitol bonds

Hartford town debts to railroads
do

1871-’74
1874

Holyoke, Mass— City notes
City bonds, sinking fund

1872
1873

do
do

Water loan

130,000

300,000

1,000,000
1,250,000
140,000

war

funded debt

Railroad loan
($60,000 are J. 6c J.).
1869 to ’70
-Indianapolis— Bonds to railroads
1877
Bonds to Un. RR. Tr. Stock Yard (mortgage).

,

1,000
1,000
1,000
500

1,000

1873

...

Purchase-money bonds—Southern Park
-Jersey City—Water loan bonds, mostly coupon
Water loan bonds, mostly coupon
do
do
do

Forty-year bonds
Improvement bonds.. ..i
do

Morgan street dock
Funded debt bonds
Old Jersey City bonds, coupon
Hudson City bonds
Bergen school loan bonds

1,000

1874

Roan bonds, series A
do
do
B
do
do
C
D
do
do

do

280,000
250,000
600,000
400,000
200,000
372,000
850,000
50,000
400,000
300,000
100,000
467,800
362,700
35,000

100 &c

JLartford, Conn.—Water bonds

do
do

100,000
100,000

414,000

1,000

1,000

1874
1,000
1875
1,000
500
1874
1852 to ’67
1,000
1869 to ’73
1,000
1877
1,000
1873
1,000
500 <fec.
1871
1872 to’76
1,000
1870
1,000
1872
1,000
Various.
1,000
Various. Various
1869
l,000&e

130,000
205,000
271,000
250,000
226.500
155,000
500,000
300,000
300,000
300,000
200,000
109.500
1,163,000

3,109,800
416,000
622,000

1,869,000
2,161,500
125,000
500,000
860.400
162,550
150,000

—The sewer, street improvements and street
opening bonds
special local improvements, and redeemed by assessments on the
property benefitted. Assessed valuation, tax rate, debt and sinking

Cleveland

are

for

funds have been:
Real

Personalty.

Years.

$73,305,277

0876....
1878

....

73,562,237
71,296,122
70,139,639
70,548,104

Tax per

.—Total Bonded Debt—>

Sinking
Funds, «fcc.

General.
Special.
$5,160,000 $2,937,900 $1,863,736
5,557,000
3,027,900
1,989,751
18^20
6,061,000
2,993,164
2,199,357
2,606,100
1,816,690
17l~20
6,678,000
2,390,100
15120
6,201,000
2,267,934

$1,000.

Des Moines, Iowa.—Assessed value
about 50 per cent of true value. Tax

of property, $5,104,240, which
rate, $5 per $100.

is

When

Where

payable

10
7
7
7
7
7
6 & 7
4
7
7
7
7
7

J. 6c D.
J. & J.
J. 6c J.
Various N.

do
do
do
do
do

7
7

7 3-10
7
7
6
6
7

5, 6,7
6
6
6
7
6
6
6
10
8
8
10
6
6
6
6
6
6
6
6

Y., Metropolitan N.

Various
F. 6c A.

Various
Various
A. 6c O.

N.
D.
D.
J.

do
do
do

do

May 1, 1898
May 1, 1899
Dec. 1, 1890 1
Dec. 1, 1895

New York.
do
do
do
do
do
do
do
do

O.

N.
D.

July, 1888
1879 to’89

3 879 to 1906
1879 to ’91
1892 to’94
1899
1879 to ’81
1880 to ’95
1881 to’93
1879 to ’86
1885 to’96

L. 6c T

do
do
do

N.

&
<fc
6c
6c
A. 6c
M. &
J. 6c

,

do
do
do
do

do
do
do
do

V arious N. Y., Farmers’
do
Various

M.
J.
J.
J.

June, 1880
July, 1885

New York.
do
do

Various

M.'&
7

do
do
do
do
do
do
do
do
do
do

do

Various

1880 to’95
1880 to’94
1887 to’92
1894 to ’96-’98
1878 to ’88
1883 &’84
1880 to’92
1880 to ’84
1880 to’86
1880-’81-’82-’83
1893 6c 1907

Exch. Nat.

do

Various
A. 6c O.
Various
Various
Various

due.

payable and t
whom.

Various N.Y., Amer.
do
Various
do
Various
do
Various

5, 6, 6c 7 Various

229,000

1869

purchase Belle Isle

6 & 7
6 & 7
7
7
6 6c 7
7
6 & 7
6 6c 7
6 <fc 7
6

1,534,000
315,000
275,000

795978118759.778811
Funding bond fund
Detroit, Mich - Bonds for various City purposes
Bonds for Water Work Co., on city’s credit...

Rate.

[$1,275,000

1856 to ’76
1868 to’79
1872 to’74
1874 to’79
1864 to ’71
1868
Various.

Principal—When

Amount

or

par
value.

July 1, 1895
April 1, 1906
May 15, 1906
June 1, 1907
A] nil 15,1908

1881 to 1888
Various
City Treasury,
1880 to 1891 ‘
do
Various
Aug. 1, 1894
F. 6c A.
Boston, Revere Bank.
May 1,1895
M. <fc N. Boston, Bank Redemption
Nov. 1,1879-1880
do
do
M. 6c N.
Nov. 1, 1892-1906
do
do
M. 6c N.
Aug. 1, 1899-1905
do
do
F. & A.
Nov. 20, 1882
M. 6c N.
City Treasury.
July 1, 1893
J. 6c J. Boston, Merchants’ Bank,
July 1, 1891
do
do
J. 6c J.
do
do
July 1, 1895-190C
J. 6c J.
1880 to’91
Galveston,
Various
1907-1909
do
M. 6c 8.
1893-1902
do
M. 6c 8.
1906
New York.
J. 6c J.
June 1,1880
Merchants’ Bank, Boston.
J. 6c D
do
do
July 1, 1881
<
J. 6c J.
July 1,1890-’95
Phoenix Bank, Hartford.
J. & J
Aug. 1, 1900
F. 6c A.
City Treasury.
June 1, 1891
Suffolk Bank, Boston.
J. 6c J.
F. 6c A. Merchants’ Bank, Boston. Aug. 1,1882 6c ’84
Jan. 1, 1893
J. 6c J
City Treasury,
Jan. 1, 1897
do
J. 6c J.

4^
6
6

6 & 7

Various
A. 6c O.

1879 to

City Treasury,

6
6
7

do
do
do

6
6

73
7*3
7*3
7*3
7*3
6
7
6
7
7
7
7
7
6 & 7
7
7

J.

& J

A.

6c O

|

Jan.

City Treasury.
L. & Co.

Jan.

N. Y., Winslow,
J. 6c J.
do
J. & J.
do
J. 6c J.
do
J. 6c J.
do
J. 6c J.
do
J. 6c J.
J. 6c J. N. Y., Merch. Ex.
do
Various
do
J. 6c J.
do
J. 6c J.
do
M. 6c N
do
Various
do
J. & J.
do
M. 6c N.
do
Various
do
Various
do
J. 6c J.

do
do
do
do

1886*

Oct. 1,1889

1,1900

Jan.&Apr.l, 1894
Jan.l, 1889, to ’9C
Jan. 1, 1897
July 1, 1893

July 1, 1894

July 1, 1894
July 1, 1895
Jan. 1, 1899
do
N. Bank. Jan., 1879 to ’95
1899 to 1913

do
do
do
do
do
do

1892 to 1906
June 8, 1900

do

May 1,1897

do
do
do

’84-’85-’89&1900

July 1, 1907
July 1,1913
May, 1891

1880-’90

Jan., ’98 to 1900

Debt.
1,555,000
1,551,000
1,551,000
Fall River, Mass.—The, sinking funds amounted to $281,000, Jan.l ,1880.
Total debt, including water debt, $3,186,000. Population, 1875, 45,340.
Fitchburg, Mass—Sinking fund, $101,000. Total net debt, January,
1880, $737,283.
Population, 1875, 12,289. Valuation, tax rate per
$1,000, 6ce.:
.
.
Debt. Sink’g Fd.,&c.
Years.
Real Estate. Pers’l Prop’ty. Tax.
Y5 80 $896,395
$118,382
$8,034,325 $2,633,994
Years.

Real Estate.

Personalty.

$6,162,225
6,113,205
5,086,315
4,926,250

$16,865,639
15,486,225
14.566,955
12,381,475

.

Tax.
3 6 00
3 2 50
31 40
15 00

$1,555,000

900,000
138,441
895,803
158,708
the cash value.
Galveston, Texas.—The total city debt is $865,500, all of which is
10 per cent currency, except $35,000 park 8s, due 1892-1902, and
the limited debt bonds. Assessed value of real and personal property,
personal, $19,216,725; total, $83,198,040, against $87,865,685 in 1878 1878, $17,000,000. Tax rate, $1 25 on $100. (V. 25, p. 283.)
and $93,709,375 in 1877, which is made on the basis of true value. Tax
Hartford, Conn.—Total debt, April, 1879, $3,002,000; net. after
rate, $F03 per $100.
deducting resources, $2,152,308. Assessed valuation in 1878, $44,001,-

Mieh.—The population in 1870 was 79,601; in 1874, by
Btate census, 101,083. The value of water works is $2,483,880, against
a debt of $1,401,000.
The water works bonds are issued on a pledge of
the city cre<lit, and $75,000 per year collected in taxes to pay interest on
Assessed valuation, in 1879-80—real property, $63,981,315;
'them.
Detroit,

Elizabeth, X. .7.—Default was made in interest February 1,1879, see
V. 28, p. 146. Suits on bonds are pending. Total bonded and floating
•flebt January 1, 1880, was stated at $5,400,000. Estimated true value
*®f real and personal property is $28,000,000.
Population in 1875,
25,000. Assessed valuation, tax rate per $1,000 and debt have been;
Years.
Real Personalty. Tax Rate.
Debt.

$16,768,950

2*66

16,250,805
15,289,888
14,614,918

2*68
2*50
356
2 12

$4,876,000

7,197,125
2,373,872
16 20
6,820,575
2,208,818
17 80
—The assessed valuation of real estate is about
1878

(V. 28, p. 599.)
.
Holyoke. Mass.—Bonds all eonpon, but can be registered.
funds, $45,500. Total net debt, January, 1880, $952,500. Tax
tion, 1877, $9,399,820. Population, 1875, 16,260.

245.

Indianapolis.—The School

Sinking
valua¬
Board is a distinct organization and levies

own tax, which is included in tax rates.
There are a few other
bonds, in all about $50,000. Valuation and tax per $1,000 have been:

its

Real Estate.
Personalty.
Total.
Tax.
....$46,981,650
$13,474,5o0
$60,456,200
55,367,245
43,541,600
11,825,645
11,530,031
10,873,575
10 ZO
39,156,400
50,029,975
In 1879 no interest or sinking fund was raised.
(V. 28, p. 146, 599, 624,
9*30
38,286,235
9.813,705
48,099,940
•641; V. 29, p. 120, 225, 277, 357, 563.)
Jersey City.—One of the main causes of the temporary
Evansville, Ind.—No floating debt. Assessed valuation (true value), of Jersev Citv is found in the failure to collect back assessments.
Comptroller, in Jan., 1880, made the following statement in his report •
tax rate per $1,000 and debt have been:




4,900,000

5,130,000
5,380,000
5,400,000

Years,

Jl*20

embarrassment;

a

Date of
Bonds.

DESCRIPTION.
For explanations see notes on

Jersey City—(Continued)—
.Bergen street improvement

bounty loan

do

1869
Various.
Various.
1875-’7G

bonds
.

Assessment funding bonds
Revenue bonds, coupon or registered
Two-year temporary loan
Ronds to fund floatfng;debt, coup, or reg.

Mo—Bonds

69781

Bonds
Lawrence, Muss.—Funded
Funded debt
do

.

.

debt

-

•

Louisville, Ky.—For Jeffersonville RR.
Subscription to stock of L. A N. RR

•

•

__

^

*

-

1808
1869
1870 to ’74
1871

1871
1871 to ’73

do

do

Water notes
Water bonds

Lynn, Muss.—City notes

w

•

w

Funded debt

City Hall and School House
Manchester, N. II.—City bonds

180,000
79,(KM)
425,000

1,993,000
288,000

133,000
75,000
605,000
500,000
107,000
350,000

1,508,000
1,300,000

Large.

175,000
121,500
450,000
387,500
44,200
117,500
80,000
70,000

......

•

•

•

•

•

•

•

•

do

($8,000 1880, ’81, ’83, ’85)

m

Memphis, Penn.—School and paving bonds

m

m

481,000
500,000

m

m

-

•

.

.

-

Funding loan, gold
Mississippi River Railroad bonds
Ei dorsement Memphis A Little Rock RR
O mpromise bonds, coupon
Milwaukee— Re-adjustment bonds
General city bonds

100 Ac.

1867, ’8. ’9 500 Ac.
1870
1,000

do

Water bonds, coupon

registered

.

•

1877

1861
1871
1876
1872
1872
m

do
do
do
do

•

•

•

•

•

m

Western division

m

•

»

do

•

•

City bonds...°.

m

m

m

•

-

•

•

m

m

m

„

....

_

1875
Ifo&ite—Funding bonds (act March 9, 1875)
1849
Nashville, Penn.—Nashville A Cliatt. Railroad.
1870 to’80
Various city bonds

Newark—Bonds, city purposes (s. fund of 1859)
War bonds, floating debt, Ac. (s. fund of 1864)
Public school bonds
Clinton Hill bonds, coup. A reg. (s. fd. 3 p. e.).

Corporate bonds, coup, or reg.(act Apr. 21,’76)

bonds (local liens).

•

^

1,300,000

341,000

1,000

60,000
300,000
900,000

500 Ac.

328,289

1,000
1,000
1,000
10,000
1,000
1,000

242,000
100,000

•

1857

Minneapolis, Minn.—City bonds

400,000
32,000
29,500

1,000

•

1867 to’68

Pi st bonds

200,000

100 Ac.
3 00 Ac.

m

m

*.

.

-

1874
1872

($100,000 each year)

.

.

•

«

^

.

•

•

Bewer aud improvement

650,000

1,000

m

•

City bonds ($70,000 1884, $10,000 1885).....

Valley Railroad

600,000

1870-’3-’5 Large.
1.000
1871-’4-’0
1862 to ’76 500 Ac.
1857 to ’67
1,000

Water notes
Water bonds

do

56,000
193,900

1,000
Large.
Large.

1851 to’63
1852 to ’75
1871 to ’76
1870

Lowell, Mass.—City notes

1,311,000

1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000

’54,’62,3, 8

Wharf property
Jail bords
For old liabilities
do
do

•

•

1875
1878
....

1,000
•

429,000
1,171,000
250,000

70,000
50,000
60,000
124,500
110,000
115,000
125,000

500
500
500

1,000
500
500
500

1,785,122
40,000

1,000
100 Ac.

1,393,900

1,000
1,000
1,000
1,000
1,000

73,000
1,840,000
500,000
400,000
700,000

1,000

2,500,000

$2,268,145
3,044.132
$16,808,000; sinking
funds, $1,069,565; taxes due and unpaid, $2,268,145. Population by
Btate census in 1875 was 116,883, against 85,000 by United States cen¬
Total taxes overdue Dec. 1, 1879, less deductions
Total assessments due and unpaid
The total debt of the city January, 1880, was

sus

of 1870.

Years.

•

Assessed valuations and tax rate per $1,000 have beeu :
Tax Rate.
Personal Prop.
Real Estate.

$ 25 80
$6,315,155
25 40
5,940,296
54,601,206
23 60
5,790,119
54,505,470
28 00
5,340,860
54,993,918
-(V. 28, p. 173, 199, 352, 454; V. 29, p. 120, 357.)
Lawrence. How#.—Total debt, $1,790,700, of which $20,000 are 7 per

$53,724,792

<&nts.

Binking_ fund, $40,000.

Tax valuation, 1879,

$23,088,897; tax

rate, $16 40, Population, 1875, 34,916.
Lewiston, Me.—Total debt, $1,096,100; sinking fund, $90,410. The
Taihroad bonds were issued to build the Lewiston A Auburn Railroad,

yhich Is owned by the cities of those names. Assessed valuation, 1877,
$11,740,602; tax rate, 20 mills on the $1.
Louisville.—The funded debt, Jan. 1, 1880, exclusive of loans payable
by railroads, was $8,072,000, against $8,079,000 Jan. 1, 1879. The sink¬
ing funds on Jan, 1, 1880, amounted to $4,619,980. Population by cen¬
sus of
1870 was 100,750, against 68,033 in 1860. Rate of taxation
for all city purposes iu 1878 was $2 17 on $100 in each district. The
following figure^ give the assessed property valuation: 1874, $78,295,114; 1875, $75,536,812; 1876, $71,849,772; 1877, $68,522,947; 1878,
$63,194,487; 1879, $64,018,242.
Lowell, Mass—Ml the notes held by savings banks. Water loan sink'
Ing flmd, $215,000; other sinking funds, $226,725. Population, 1879,
50,600.
Assessed valuations (about 80 per cent of true value), tax
rate per

Years.

Jg77
}g'£
^79

$1,000, Ac., have been:
Real estate.
P’sonal Prop. Tax Rate.

$27,072,779
27,112,747

$12,334,953
12,951,379

$14 30
13 70

Debt.




S. fund, Ac.

$2,331,000 $147,951
2,311,000 240,000
184,296
2,281,500

27,440,570
12,164,430
13 40
Lyn>t, Mass.—Total debt, January 1,1880, $2,147,487.
C3A Population, 1875, 32,600.

5*2
6 A 7

1,000
1,000
1,000

1868
1871
1868 A ’73

Ilizabeth A P. Railroad

10

1,000

1806 to ’67
1873
.1871 to’73
1853 to’70

Assets, $455,-

Win
liom.

Payable

P. A

6
7
8

1,000
1,000
1,000

1873

of streets

• ••

1,000
1,000
1,090

1857 to’67

7

D ue.

by

Nat. B’k,
do
do
do
do

6
6
6
6
6
6
5
6
6
6
7
6
7
7
6
6
7
7
6
6
6
7
7
7
7
6
5 to 7

6, 6*2

A. N.

Various

N. Y.,

June 17,1880
Feb. 1, 1909
1890 A ’97-1901 i
1880 to ’97

1891, ’92 A 1903-

Bank of America.

Various New York and Louisville.
J. A J. Louisville, City Treasurer,
N. Y., Bank of America.
J. A D.
do
do
Various
Various Louisville and New York,
do
do
A. A O.
do
do
J. A D.
Various
M. A 8.
F. A A.

J.

A J.

Various
Various

Various
M. A N.

6,7
6,7

Various
Various
J. A J.

5, 5*2, 6 Various
Various
5, 6
6

J.

6
6
6
6
5
6

A.
M.
J.
J.
J.
F.

6

J.

6 g.
6
7
6
5
7
7
7
7
8
8
8
10
8
7
8
7
6
6
6
6 A 7
6 A 7
7
7
6
7

Y., Mereh. Ex. Nut. B’k,

1880-’81
1879-1884
Various
Boston, Tremont Bank,
1880 to 1892;
do
do
Various
do
do
July 1,1894
J. A J.
Oct. 1, ’90. to 1906 ;
do
do
A. A O.
July 1,1882
J. A J.
City Treasury,
June 1, 1883 AW*
do
J. A D.
do
July 1,188561901
J. A J.
do
July 1, ’93-1913
J. & J.
Oct. 1,’97-1907-0.7
do
A. A O.
April, 1882
A. A O. N. Y., Mercantile N. Bank
April, 1883
do
do
A. A O.
1887, ’89, 91
Various N. Y., Bank of America,
March 1,188&
do
do
M. A 8
Louisville.
1886,’ 96, ’97
Various
July 1, 1903
N. Y., Bank of America.
J. A J.

6

6

July, 1889

1884 A 188t>

1881-188#
1905-190#
June 1, 1886

....

1,300,000
25,000
100,000
320,000
224,000
500,000
137,000
377,000

...»

^

®

ini
Princi pal—When

Where Payable and

When

J. A J. N. Y., Mereh. Ex.
do
Various
do
J. A J.
do
Various
do
J. A D.

....

400,000
500,000
610,000
385,000
852,000
117,782
74,000
133,000
262,000

1,000

1852
1854

fc'ewer bonds
do

do

.

•

•

stock..

Re-constructing street
Public buildings and institutions
Public school and school houses

do

-

_

Lewiston A Auburn Railroad
Water bonds

Suncook

•

1862 to’75 5000Ac.
1874
1,000
500 Ac.
1873-’75

.

($50,000 each year)
—
($110,000 due 1885, $210,000 189J

Road bed

•

1859 to’64 50<X)Ac.

City bonds

do
Water bonds
do
Bewcr bonds

„

_

•

..

Rate.

7
7
7

$100,000
73,000
97,000
900,000

Various
500 Ac.

.—

....

Water works
do
For improvement

outstanding.

1,000Ac

•

discovered In these Tables.

INTEREST.

Amount

or

par

1876
1878
1879

Water loan

do

Size

Value.

s
first page of tables

.

Kansas City,
Ronds

Immediate notice of any error

great favor by giving

&ubftcrlber« will confer a

II

SECURITIES

CITY

Mabch, 1880.]

A J.
A O.
A
A
A
A
A

N.

J.
J.
J.

June, 1901
1888 A 1903
1879 to 1893
Oct. 1, 1893
1889

1880, ’94 A 1901'
Bept., 1891
Feb. 1, 1880
do
*
do
July, 1901 A 1903
do
do
1881 to’93
New York and Louisville.
1879 to 1894
City Treasury,
1886 to 1894
do
Nov. 1, 1890
Boston, Bank Redemption,
1887 to 1890
City Treasury,
1885 to 1890
do
July 1, ’91-’94-'9e
Boston, Bank Republic.
1879 to 1896
Treas’y A Best. Bk. Repub,
1882 to 1896
do
do
Jan. 1, 1880-1894
City Treasury,
N.

do
do
Y., Bank of America,

April 1, 1884-’85
May 1, 1893
July 1, 1890 A’95

do

Suffolk Bank, Boston,
do
do

18 87-’92-*97-1902
July 1,1880 to ’85-

City Treasury,
do

Aug. 1,1879 to »8T
1873 to 1902

do

A.

Memphis.

A J.

<

1873 to 1900

Nov., 1900

M. A N.

J. A J.

1883 to ’89

July, 1893

July, 1872

Charleston, 8. C.

1907
N. Y., IL Talinadge A Co.
A J.
June 1,1891;
J. A D. Milw. and N. Y., A. Goettel.
Jan. 1, 1901
do
do
J. A J.
June 1, 1893
do
do
J. A D.
Jan. 1,1802
do
do
A J.
Jan. 1,1902
do
do
J. A J.
Dec. 2, 1892' .
J. A D. New York, Park Nat. Bank,
Feb. 2, 1894
do
do
F. A A.
May 1, 190fr
do
do
M. A N.
1881 to 1885
do
do
Various
1886 to 1900
do
do
J. A J.
July ,’91 -’96-1902.
do
do
J. A J.
Feb. 1, 1891 A ’3
do
do
F. A A.
Nov. 1, 1901
do
do >
M. A N.
N«v., 1905
M. A N. Mobile, Mob. Savings Bank
1875-77-79
New York.
Various
1879 to *99
Various New York and Nashville.
J.

Various
Newark, City
do
Various
do
A. A O.
T. A J. Newark, Mech.
F. A A.
M. A 8.

Newark,

Manchester, N. //—Total debt,

Mecli.

Treasury,
do
do

r

1879 to’93
1879 to’91

April, 1888, to’ 9%

Nat. Bank.

July 1, 1895
Aug. 1, 1903

Nat. Bank.

1879 to’93

$929,000; assets, $83,367. Assessed
tax rate per $3,000, Ac.*

valuations (about 70 per cent of true value),
have been;
Years. Real Estate. Personal Prop. Tax Rate.
1878
$9,657,690
$6,254,544
$17 40
..

Total Debt. Blnk.Fdu.A©'

$984,729

$20,6952

37,347
7,705,706
15 00
973,007
Memphis. Tenn.—The city has been In default for interest since Jam.
1,1873. The legislature passed a bill, January, 1879, repealing the
city’s charter, to enable It to avoid its debts. A receiver for the city was
appointed by the United Btates courts. The compromise bonds were
issued at 50 cents on the dollar. Assessed valuation of real estate, 1875*.
$19,329,600; personal, about $6,500,000. Tax rate, $2 per $109.
Population in 1870, 40,230. (V. 28, p. 121, 146, 224, 579, 657.)
Milwaukee.—The city cannot issue debt beyond 5 per cent of its aver¬
age assessed value for five years. In 1878 valuation was $55,255,711.
Binking finals are provided for all the bonds. There Is also about
$17,000 scrip issued to settle old railroad bonds. Population by Btaio
census, 1875, 101,000.
(V. 23, p. 622.)
Minneapolis, Minn.—Total debt, $1,101,000; tax valuation, 1879*
about $24,000,000; tax rate, 14*85 mills; bonds all coupon.
MoMle—The valuation of property In 1877 was $11,022,049 real
estate and $6,118,462 personal property; tax rate, l«i0 per cent. Inter¬
est was in default from July, 1873. A settlement with bondholders was
offered by act of March 9, 1875, viz.: $510 in 6 per cent bond for $1,000
of the old 8 per cent. The 5 per cent bonds have a lien on city revenue*
and exchange for these was offered at 75 per cent of their face, la
Feb., 1879, the Legislature repealed the charter of the city, and in Oct.*
1879, iMmdhohlers were asked to scale Interest to 3 per cent, but declined.
Population about 38,000. (V. 28, p. 224, 327; V. 29, p. 278, '574.)
Nashville, Tenn.—At the close of the fiscal year, September 30,1879*
1879..

then*

9,777,744

were

$101,185 of past-due coupons,

Judgments, overdrafts, Ac.
real property

Assessed valuation of all property in 1879 was $9,137,990
aud $1,858,584 personal; tax rate, $20 per $1,000.

out of tb&
second lino
bonds out of
$179,000; Clinton Hill bonds by sinking fund*

Newark.—The bonds in the first line in the table arc payable
sinking fund of 1859, which amounts to $114,900; those in
out of sinking fund of 1864, $1,017,000; public school

public school fund,

SECURITIES.

CITY

12
Subscribers will confer

a

^reat favor by giving immediate notice of

DESCRIPTION.

Date of

Size

Bonds.

For explanations see notes on

[Vol. xxx.

.

outstanding.

discovered In these Tables,

INTEREST.

Amount

or

par
Value.

first page of tables.

any error

Rate.

i palPrincipal—When

Where payable

When.

whom.

payable

due.

and by

Newark—( Continued)—
Aqueduct Board bonds
Bonds

i*8*79

Tax arrearage bonds

Bedford, Mass—City bonds
Citjr improvement

War loan.
Water bonds
do
do

Conn.—Sewerage

City Hall

For

1,000

1876-’77
1861-’74
1875

New

New Haven,

$1,000

>

Derby Railroad (.-£20,000 payable yearly)

'

$3,030,000
450,000,
888,000
55,000
223,000
108,000
100,000
400,000
200,000
499,000
60,000
160,009
150,000
4,376,250
699,000
1,642.700
600,900
430,900
98,000

10,000
1,000
3,000
1,000

1876
1867 to ’76
1872-’74
1871
1861
1867
1877
1852
1854-55

1,000

1,000
1,000
1,000
1,000

-

128635879.781
City bonds (10-20 bonds)

Hew Orleans— Consolidated debt
Railroad debt
Waterworks loan of 18G9
Seven per cent funding loan of 1869
Seven per cent funding loan of 1870
Jefferson City (debt assumed)
Wharf impr. bonds (assumed by lessees)
Street improvement bonds
Consol, gold bonds (geu’i and drainage series)
Ten per cent bonds, deficit and old claim
New premium bonds (in Exchange)
N. O. Waterw’ks Co. new bds.(for $2,000,000)
Newton, Mass.—City bonds and notes
Water loan ($600,000 6s, balance 5s)
New York—Water stock
Water stock
Croton water stock

•

.

3 ,000

1,000

1869

....

1869
1870

m

’57, ’67/70
1870
1871
1872
1871

-

m

'

Various.

....

....

Personal

Rate of Tax Total

Debt,

n^^tof thecan
bonded debt. The
Who caoose
fund




new

July 1, 1922
April 1, 1881
1879

toi895

July 1, 1905-’06
1880
Nov. 1,1902

M

1907 to 1917
1907 to 1911
1880
1887 A 1898
1884
1880

^

q.-v.
Q.-F.
Q.-F.

M.
M.
M.
M.
M.
M.
M.
M.
M.
M.
M.
M.
M.
M.
M.
M.
M.
M.
M.
M.
M.

July 1, 1898
1887 A 1895

A N.
& N.
A N.
A N.

Nov.1,1901 to ’10
1894 A 1897
1888

’89,’92,’96A 1926

AN.
A N.
& N.
A N.
A N.
A N.
A N.
& N.
A N.
A N.
& N.
A N.
A N
& N.
A N.
& N.
A N.
Various
M. & N.
M. & N
M. & N.
M. A N.
M. & N
M. & N.

1,620,000
600,000

M.
M.
M.
M.
M.
M.
M.
M.
M.

584,600
4,000,000
946,700
745.800

376,600
855,204
1,719,400
493,200
900,450
100,000
14,702,000

A
A
A
A
A
A
A
A

1889 A 1892
1889
1899
1884
1890
1905 A 1926
1884 to ’88 <

1880, ’82, A ’88
1880 to’82
1890

Nov.l,1880to’84
Nov. 1,1880 to ’84
1901-1904

Nov.

1,1891

Nov. 1, 1891
Nov. 1, 1891

Nov.l, 1882 A ’85
1894 to’96

May,’97,1916-’26

1903
Nov. 1,1890
1880 A 1881
Nov.l. 1880 A/84

1880 to’92
to’88.
to’98
to’90
to’81
1895 to ’97
1891
1882
1887
1903
1910
1884 to’88
1896 to 1901
1884 to ’88

N.

1884
1894
1883
1880

N.
N.
N.
N.
N.

N

N
A N.
M. A N.
M. A N
Various
M. A N

6,000,600

lar, and 4 per cent interest per annum, payable semi-annually on the la.
April and the 1st of October. Population in 1870, 191,418; in 1860v
138,670. (V. .27, p. 148, 228, 629; V. 28, p. 18, 352.)

of

Newton, Mass.—Total debt, January 1,1880, $1,282,778; sinking fund,
$70,408. Tax valuation, 1879, $23,787,352; rate, $13 40 per $1,000.
Population, 1875, 16,105.
New York City.—The total debt of New York, January 1, 1880, was
$142,447,400; the amount of sinking funds, $33,021,985. The follow¬
ing statement shows the details of funded debt and the amount in the
city sinking fund at the dates named:
Jan. 1, 1880.
Description.
Jan. 1,'78.
Jan. 1,’79.'
„

Funded debt.

.

$123,145,333

$121,440,133

$126,128,815

31,080,007

32,143,787

33,021,98o

$90,360,126
21,329,500

$93,985,028

6,051,424

5,952,075

$90,123,348
13,262,100
6,039,906

$117,741,050

$113,418,603

Sinking fund
Net d«*bt

Temporary debt
Revenue bonds .?

Total

13,481,51X1

^.

$109,425,414

population of New York by the United States census in 1870 was
922,531, agaiust 805,658 in 1860. Since Jan. 1,1861, the valuation, rate
of taxation, and net funded debt at end of year, have been as follows:
The

/-Rate Tax p.

Years.
1861
1865

act

bonds at fifty cents on the dol¬

1, 1899

Dec., 18801
Aug. 1, 1911

M. & N.
M. A N.

142,396
733,000

act further provides that bondholders

their bonds in

M. A X.

956,000
398.000

entire adjust¬

1

Q.-F.

1,289,000
265,000
8,779.700
2,058,350

the debt by a uonu premium drawing
plan is in practice, and drawings
take place January 31, April 15, July 31,
15. An

by the Legislature April, 1880, provides that the

Jan.

Maroh 1, 1894
Juno 1, 1895
1887 to 1897

Q.—F.

200,000
636,000

ment of the city debt shall be committed to a board of
liquidation, to
which shall at once be transferred all the assets of the
city not used for
purposes of government, and these assets are to be used first for the
payment of interest, and, should any excess remain, for the extinguish-

1874-5 A 1894

1883 A 1890

8,083.900
5,660,000

tax, 14^

and October

■o

July 2,1887-’97
July 1. 1892

Aug. 1,1884
Aug. 1,1900
Nov. 1,1900-1906

2,168,000

Personal
Rate of Tax
Total
Sinking
Tears. Real Estate.
Debt.
Property.
per $1,000.
Funds, Ac.
1876.. $35,178,404
10 mills.
$13,041,104
$965,513
$57,904
1877..
35,509,639
12,678,617
9%
“
950,137
147,418
1878..
33,426,943
9
11,606,420
894,000
142,196
1879..
Not yet ascertained.
9
874,000
156,450
New Orleans.—A decision of Louisiana Supreme Court, December,
1878, holds invalid the special tax provisions for consolidated bonds.
The floating debt, January 1, 1878, was
$1,841,928. The assessed
valuation of]
'

passed

Q.-F.

July 1, 1881

Oct. 1, ’79 to ’86

xM. &H.

700,000
521,953
597,586
3,000,000
3,850,000
6,500,000
2,438,139
750,000
300,000

Trust

City Treasury.
Boston, Comm’nwealtk Bk

Q.—J.

7,269,400

Funds.
Property.
per $1,000.
Bonds.
$12,609,200 $13,524,097
$18 60
$1,178,000
$102,600
1878
12,808.700
16 (X)
13,137,011
1,118.000
103.100
16 40
12,898,300
12,874,418
104.100
1,123,000
■New Haven, Conn. -Sinking fund on City Hall loan, $37,740; munici¬
pal bond fund, $18,277. The city made a special loan of $75,000 to tin*
New Haven A Derby Railroad, and guaranteed $225,000
of its second
mortgage bonds. Population, 1870, 50,840. Assessed valuations (about
80 per cent of true value), tax rate, Ac., have been:

City Treasury,

Various
J. A J.

& J.
M. A S.
J. A D.
Various
J. A D.
F. & A.

835,000
2,147,000
500,000
2,900,000
250,000
3,618,600
5,086,000
970,637
490,000
450,000
3,341,071
500,000
24,000
399,300
3,819,800
6,975,000
296,000
75,000
2,215,900

$53,200; tax arrearage, $275,000; against local improvement bonds
the city holds $2,039,724 of assessments unpaid and a lien on the propcity. Real and personal property have been assessed at near the true
been
value as follows: 1876, $!
£97,116,004; tax rate, $19 per 1,000; 1878,
$86,257,175; tax, $19 80; 1879. $78,658,918; tax, $20 60. Population
in 1870, 105,059. (V. 28, p. 253.)
New Bedford, Mass.—Population, 1879, 27,000. Assessed valuations
(true value), rate of tax, Ac., have be«*u:

do

A. A O.

Various

357.000

-

City Treasury,

1879 A 1892
1909
1886-’87
1880 to 1889
1891 to 1910
1879 to 1884
1900 to 1904
1885 to 1909
1883 to 1909
Oct. 1, ’91A1901

do
do
do
New Orleans,
do
do
do
do
do
do do
New York or London.
New Orleans.

J.

30,000
197,000
298,900
9,231,280

.

Real Estate.

A. & O.
A. & O.
A. A O.
A. A O.
A. & O.
A. A O.
A. & O.
J. & J.
A. & O.
J. A J.
J. A J.

210,000

1,000
1,000

1864 to’75 1,000Ac
1875
1,000
1841 to ’63 100 Ac.
100 Ac,
1872
1846 to *69 100 Ac.
New Croton Aqueduct stock
100 Ac.
1865-6
Additional new Croton Aqueduct
1870 to’79 500 Ac.
Croton water main stock
1871 to’79 500 Ac.
Croton Reservoir bonds
1865 to’74 100 Ac.
Croton Aqueduct bonds
1866 to ’70 100 Ac.
Croton water pipe bouds
100 Ac.
1869
Cent. Park fund stock ($275,000 only due ’98) 1857 to’59 100 Ac,
500
Improvement bonds
1879
Third Avenue improvement bonds (23d ward)
1877
500
Central Park fund stock
1856
100 Ac.
Central Park improvement fund stock
1858 to ’71 100 Ac.
Dock bonds
1870-’7tf
500 Ac.
Market stock
1865 A ’68 100 Ac.
3 869
100 Ac.
City Cemetery stock
1876
500 Ac.
City improvem’t st’k (part red’mable after ’96)
do
do
500 Ac.
1870-’73
Lunatic Asylum stock
100 Ac.
18G9-T0
Fire Department stock
1869 ’70
100 Ac
Fire telegraph bonds
1870-’73
100 Ac.
Tax relief bonds, coupon
1870
500 Ac.
N.Y.Bridge bds ($2,350,000 red.after July,’96) 1869-’79 500 Ac.
Accumulated debt bouds
1869-’70
100 Ac.
Street improvement bonds
100 Ac,
1874-’77
Street opening and improvement bonds
100 Ac.
1871
Ninth District Court-house bonds
1871
500 Ac.
Department of Parks improvement bonds.... 1874-’79 500 Ac.
Assessment bonds
1874-’7S
500 Ac.
City parks improvement fund stock
1871-’7S
500 Ac
Normal school fund stock
1871
500 Ac
Public school building fund stock
1871
500 Ac.
Additional Croton water stock
1871-Y9 ' 500 Ac.
Sewer repair stock
1872
500 Ac.
Consolidated stock
3 874
500 Ac.
do
20-50 (redeemable July’96/
1876
500 Ac.
Museum of Art and Natural History stock
1873-’79
500 Ac.
Third District Court-house bouds
1874
500
Armories and drill-rooms
1877
500 Ac
Central Park commission improvement bonds 1878 A ’79
r500 Ac.
Countv Court-house stock
1862 to ’68 100 Ac.
do
do
No. 3
1871
100 Ac.
do
do
No. 4 A 5
500 Ac.
1872 9
Soldiers’ bounty fund bonds
1864
100 Ac.
Soldiers’ subs, and relief red. bonds
1864
100 Ac.
8oldiers’ bounty fund bonds, No. 3.
100 Ac.
1865
Soldiers’ bountv fund red. bouds. No. 2
1865 '
100 Ac.
Riot damages indemnity bonds.
1864 to’72 100 Ac.
Assessment fund stock
1868 to’72 100 Ac.
do
do
1873
100 Ac.
do
do ■
1875
100 Ac.
Repairs to buildings stock
1870
100 Ac.
Consolidated stock, gold, coupon
1871 to’72 500 Ae.
Accumulated debt bonds.
1869 to ’70 100 Ac.

Years.

Various Newark, Mech. Nat. Bank,
do
do
F. A A
do
do

1874t

Real
Estate.

Estate.

$-106,955,665

$174,624306

427,360,884
742,103,075
769,302,250
797,148,665
836,693,380
881,547,995
883,643,545
892,428,165
895,963,933

181,423,471
305,285,374
306,947,233
306,949,422
292,597,643
272,481,181

900,855,700
918,134.380

1879......
*
Less sinking

funds.

*1,000--

Personal

State.

City.
$3 62 $16 36
4
2
4
5
5
6

217,300,154
218,626,178
206,028,160
197,532,075
175,934,955
t Annexed towns

96
70
43
20

41
95
-29
28
26
25
25

24
19
17
23
19
21

94
80
27
81
59
05

4000
50
50
80

included.

Net Debt.*

$20,087,301

35,973,597
73,373,552
88,369,386
95,582,153
106,363,471
114,979,970
116,773,721

119,811,310
117,741,050
113,418,603

109,425,414

*

CITY

April, 1880. J
Subacrlbero will confer

a

13

great favor by giving Immediate notice of any error dlacovered In tlieae Tabled.
Date of
-

Size or
par

INTEREST.

Amount

TCnnria

DESCRIPTION.
For explanations see notes on

SECURITIES

outstanding.

Value.

first page of tables.
•

Rate.

W lien

Principal—When

Where Payable and by

Duo.

Whom.

Pay'ble

New York—(Continued)—
1870
1874
1874

$100 Ac.

1878

e

Consolidated stock
f
For State sinking fund deficiency
Debt of Westchester towns annexed...
Consolidated stock, gold.

500 Ac.
100
100
100
100

Norfolk, Fa.—Registered stock

....

1S70-’74
1872-’73
1871
1808
1877

Coupon bonds ($20,000 36s are J. & J.)
Trust & paving, coup, (pav’g, $180,300,
Norwich, Conn— City bonds.
City bonds

2,729,640
1,000,000
0,900.000

4875.981 8781187-90.
'08,’78,’80

Court House

1875

Sinking fund bonds

1878
1858-’73

Paterson, N. J—School bonds
Funded debt bonds

1802-’71
1809-’79

Improvement bonds

Sewer bonds ($125,000 are M. & 8.)
War bounty bonds

1809-’79
18G3-’05
1877
1877-’78

Funding bonds, “A”

Renewal bonds, “B”

Philadelphia— Bonds prior to consolidation
Bonds for railroad stock subsidy subscript’i

•

..

•

•

•

50
50
50
50
50
50
50
25

1855
1855 to’71
1859 to’70
1808 to’70
1802 to 05
I860 to’70

»

do
for water works
for bridges
do
do
for park and Centennial
Bonds for war and bounty purposes
do
municipal, school, sewer, Ac
Guaranteed debt, gas loans
Four per cent loan (“A" to “Y”)

....

1879

Peoria, Ills.—School loan
Water loan ($50,000 each year)

Ac.
Ac.

Ac.
Ac.
Ac.
Ac.
Ac.

5,999,400

Ac.

9,199,700

Peoria & Rock Island Railroad

•

-

m

m

m

m

m

m

....

•

•

.

•

•

•

....

....

....

1868 to'74

....

Funded debt and other municipal bonds.
1845 to ’72
1803
Compromise railroad bonds (coup, and reg.)..
Bonus impr. Penn, av., Ac. (local assessment) 1871 to’73
Bonds for overdue interest (temporary loan).
1879
Portland, Me.—Loan to Atl. A St. Lawrence RR ’08,’69,’70
1,000
Loan to Portland A Rochester Railroad
1867 to ’69 500 Ac.
....

....

....

do

1872
1872
1859-79
1807
1855
1803
1872
1874
1870
1875
1879

Ogdensburg

Building loan bonds.

Recruiting and bounty bonds
Water loan bonds, gold, coupon....
do
do
registered,
c

do

do

do

do

loan of 1879

'

Public improvement loan, registered
Prov. A Springfield RR. bonds, guaranteed..
Brook Street District certificates
do
do
do
coupon
New

High School Building certificates
Richmond, Va.—Bonds, reg.,($I 18,000 are coup.)
Bonds, reg. and coup. ($210,000 are coup.)...
Rochester, N.Y.—To Genesee Valley Railroad
..

'

Funding loan
Rockland, Me.—City bonds
Railroad loan ($20,000 payable yearly)

....

500 Ac.

1,000

1000Ac.

lOOOAc.
1000Ac.

lOOOAc.

lOOOAc.
£100
lOOOAc.

•

'787,000
700,000
450,000

1,350,000
1,704,600
325,000

000,000
300,000
2,347,000
1,053,000
1,51X1,000
1,997.250
000,(XX)

1,000
1,000

1872
1877

1879
1877 A ’79

700, (XX)

500,000

280,000
135,(XX)

..tt

3,203,545
1,214,700

...

1,000

....

lOOOAc.
Various
lOOOAc.

1875

1809

2,179,409
5,127,700
1,405,000

4 50,(XX)

160,000

750,000
938,080

3,182,000

410,000

....

100 Ac.
100 Ac.
100 Ac.
100 Ac.
500
500
100 Ac.
500
Various
Various
Various

1871
1872
81. Joseph, Mo.—Bonds to St. Jo. A Den City RR. 1800 to’09
Bonds to Missouri Valley Railroad
1809
Bonds for various purposes
1858 to ’09
1871
Bridge bonds
8t. Lout*—Renewal and floating debt bonds
1846 to ’71
Real estate, buildings and general purposes.. 1840 to ’08
Street improvement bonds
1855 to ’57
Water work bonds (old)
1850 to ’58 Various
Tower Grove Park bonds (gold)
1808
1,000
Sewer bonds
1855 to ’09
1,000
Harbor and wharf bonds
1852 to ’68 Various
New water work bonds (gold)
1807 to ’70
1,000
do
do
do
1872
1,000
Renewal and sewer bonds (gold)
1871 to ’73
1,000
:

1,041,000

Large.
1,000

1879

....

4,482,425

....

To Rocb. A State L. and R. N. A P. Railroads.
For various city improvements
Water works loan, coupon and registered

do
do

74,500
50,000
195,000
205,000
42,000
100,000

....

•

..

•

m

Bounty loan ($21,000 payable each year)

do

1,725,000

0,500,000
4,853,500
8,701,000
11,050,000
15,709,750

'

«

m

Portland A

5,753,391

....

....

•

Water loan
do

do
do

50,000
125,000
135,000
33,000
309,000
4,17.000
100,000
90,000

500
500
500
500
500
100 Ac
500
50 Ac.

192,050
400,000
150,OCX)

205,000

431,500
150,000
299,400
500,000
1,922,000

1,148,000

70,000

330,000
340,000
885,000
800,000
3,950,000
1,250,000
081,000

Personal taxes uncollected Dec. 22,1879, amounted to
$11,475,380
Uncollected taxes on real estate, Nov. 30,1879, amounted to 13,744,883
Uncollected assessments Nov. 1 1879, amounted to
9,437,891

Tot a I

n

$34,058,155

•

5 g.
0
0 A 8
8
8
7
5

M.
J.
M.
A.
M.

A
A
A
A
A
A. A
A. A

>

....

7

Various

Philadelphia.

Years.
1870

Real Estate.

tax rate per $1,000

Personalty.

have been:

Tax Rate.

$8,487,207
$1,085,419
$19
8,570,130
1,039,800
19
8,703,895
•
19
1,480,703
8,775,410
1,497,130
19
Norwich, Conn.—The assessed valuations, tax rate, Ac., have been :
Real
Personal Rate of Tax Total
Sinking
Years.
Estate.
P roper ty. per $1.000.
Debt. Funds, Ac.
1870
$7,735,158
$3,725,840
$11
$705,001
$
1877.
8,184,815
8
3,273,074
703,277
1878
7.794,678
3,039,504
7
771,803
3,535
1879...
7,435,418
3,057,099
9
777,312
9,191
Paterson, N. J.—Finances are apparently in a sound condition. Back
taxes due (including 1878) were $007,780 January 1,1879. The assessed
valuations, tax rate par $1,000, Ac., have been:
Years.
Real Estate.
Debt.
Personalty. Tax Rate.
1877.
$17,835,114
$3,029,492
$1,199,000
2*5
1878
15,850,857
3,255,059
2*4
1.280.500
15,923,108
3,240,501
2*4
1,275,000
1880.
1.259.500

1908-1928
1880 to '85
1890-’94 -’99
A pi.,

’92; July/93
May, 1901

Oct.

1, 1893

April I, 1907

1898,1908 A 1910
Jan. 1, 1905
April 1. 1908
Dec., 1879-1904
Dec., 1879-1900
Dec., 1879-1880
1882-1902

Dec., 1879-1900
June, 1887
1901-1904
1879 to ’85

>

J

)

>

1879 to 1903
1879 to 1905

)
1883 to 1905
1880 to 1904
1879 to 1890

May 15,1881
June 1,1888
1889-1891
Mch 1, 1882 A ’83

July 1. 1888
1893 to '98
1879 to 1912
1913

1883 to’85

M.. A N. Boston, Blackstone N. B’k. Nov., 1880/87/88
J. A J.
do
do
July, 1887
J. A J.
do
do
July 1, 1897
M. A 8.
do
do
Sept. 1, 1907
5 A 0
Boston and Portland.
1879 to’95
m’nthly
0
J. A D.
do
June 1,1887
0
M. A 8
Providence.
Sept., 1885
5
J. A J.
do
Jan., 1893
5 A 0 g. J. A J. Boston, Prov. and London.
Jan., 1900
A 0 g. J. A J. N. Y., N. City Bank, A Prov.
5
Jan., 1900
5 g- J. A J.
do
do
July 1, 1906
5 g. J. A J. London, Morton, Rose A Co
July 1, 1895
Juno 1,1899
J. A 1).
Providence.
5
do
July 1, 1899
7
J. A J.
do
1892
5
M. A 8.
Sept. 1, 1880->84
Treasury.
4 hi
M. A N.
Boston and Providence.
May 1, 188.V80
4
Various
do
do
1880-’89
0
J. A J., 1880-1912
J. A J.
8
J. A J.
1880 A 1904-1909
7
J. A J. N Y., Metropolitan N. Bk.
1881 to 1903
F. A A. New York and Rochester.
1893
7
1880 to 1902
do
do
0 A7
Various
N. Y., Union Trust Co.
Jan. 1,1903
7
J. A J.
do
1905
do
1880to 1897
4, 5 A 6 Seini-aii
City Treasury.
0
J. A J. Boston, hirst National Bk.
1880 to 1899
0
F A A.
do
do
1891
6
M. A 8.
do
do
1802
6 A 7
Various N Y., Nat. B’k Commerce.
1880 to’89
M. A N.
7
do
do
Nov., 1889
10 A 0
Various 8t. Joseph and New York.
1878 to ’89
10
1891
J. A J. N Y., Nat. B’k Commerce.
1880 to '91
6
Various N Y., Nat. Bank Republic
1880 to 1906
6
Various
do
do
1882 A '87
6
Various
do
do
0
do
1880 to '83
Various
do
6 g- F. A A.
do
do
Aug., 1898
6
Various
do
do
1880 to'89
6
Various
do
do
1880 to'88
0 g. J. A D. New York and 8t. Louis. June, 1887, to '90
0 g. A. A O. K Y., Nat. B'k Commerce.
April 1,1892
6 g. Various
do
=•
1891 to’94
do
0

0
0
0

*

.

....

....

.

.

-

Years.

Real Estate.

$539,003,002
505,849,095
585,408,705
593,313,532

1870

* he
reduction between the amount of taxation of the years 1874 and
1879 is about $1,000,000.
There was, however, no substantial reduc¬
tion in the exjHnse of administering the City Government, as the reduc¬
tion in the State taxes is about equal to the reduction in the tax levy.

Norfolk, Va.—The assessed valuations and

1891
1890
1880 to’80

<

N.
J. Norfolk, Treasurer’s Office.
8.
do
do
O.
do
do
N. New York, Park N. Bank.
O. ThamesN.Bk; Bost.,Bk.Rep
O.
Norwich.
do
5, 0 A 7 Various
J. A J.
7
do
5
A. A O.
do
7
J. A D.
City Hall, by Treasurer.
7
J. A D.
do
do
7
J. A I).
do
do
7
J. A I).
do
do
7
J. A I).
do
do
J. A I).
0
do
do
Various
0
do
de
5 A 0
J. A J. Phila., Far. A Mech. N. B’>
0
J. A J.
do
do
0
J. A J.
do
do
0
J. A J.
do
do
0
J. A J.
do
do
do
do
6
J. A J.
0
J. A J.
do
do
6
do
J. A J
do
4
do
do
7
Various N. Y., Amcr. Exch. Nat. Bk.
10
M. A N.
do
do
do
7
J. A I).
do
do
do
7,6g.A7g Various
M. A 8.
10
City Treasury.
7
J. A J.
New York.
A. A O.
7
Philadelphia.
6 A 7
Various Pittsburg, Phila. A N. Y.
4 A 5
J. A J. New York, B’k of America.

500,OCX)
125,000
100,000
300,000
104,000

1,000

f 8ce preceding page.

-

915,071
330,700
415,800

1,000
1,000
1,000
1,000

r

M. A N.
J. A D.
M. A N.

6
7
7

$30,000
1,080,200

100 Ac.
100 Ac.

577,548,328

520,539,972
529,109,382

Personalty.
$9,239,933
9,434,873
10,004,073
9,755,000
9,439,709
8,009,892
7,498,452

Tax Rate.
$22 00
21 50
21 50
22 50
21 50
20 50
20 00

Assessed valuations of real estate for 1880 are: Full city proi>crty,
$174,501,118; suburban property, $35,702,204; farm property, $18,903,000. Population, 1870, 074,022, against 505,529 in 18m (V. 27,
p. 029; V. 29, p. 435.)

Peoria, 111.—Total debt, $080,500; tax valuation, 1870, $14,574,105.
Pittsburg.—Assessed valuation in 1879: Real property, $92,954,390;
personal, only $2,012,208. Sinking funds, $173,277. Tax rate, 1879,
17-0 mills per $1.
Population about 140,000. Interest defaulted April,
1877. (V. 27, p. 08, 043; V. 28, p. 43, 302; V. 29, p. 383.)
Portland, Me.—The sinking fund and available assets March 31, 1879,
were $300,815.
The city is protected by mortgages on Atlantic A Bfc.
Lawrence, Portland A Rochester, and Portland A Ogdensburg railroad*.
Population in 1879, 35,010,"against 31,413 in 1870, and 20,341 in 1800.
The assessed valuations, tax rate, Ac., have been :
Years.

Real
Estate.

1870-7....

$ 18,708,500

*

19,007,200
19,212,800
19,825,800

Personal Rate of Tax
Total
Winking
Property, per $1,000.
Debt. Funds, Ac.*
$11,951,855 $25 00 $0,050,200 $064,999
11,825,045
377,061
25 00
5,507,900
11,458,354
25 50
5,310,000
300,815

10,359,128

These do not Include the

25 00

siuking funds for railroad loans.
Philadelphia.— The total funded debt, January 1, 1880, was $70,979,Providence, It. I.—The principal debt of Providence has been created
<*>* i floaUng debt, $1,291,551. On
January 1, 1879, funded debt was since 1872 for water works, sewerage, new City Hall and Brook Street
£61,092,041, and floating debt, $10,742,458. Total assets, ineluding Improvement. The sinking fund for bonds one in 1885, $553,171;
of taxes “ due and sinking funds of 1893, $200,070; 1895, $181,021; 1900-0, $108,458.
leaving balance of Population, 1870, 08,901; by Htate census. 1875, 100,800. The laws of
exhibits tne assessed Rhode Island now limit the debts of towns to 3 j>er cent of their assessed
▼Ablation and tax rate per $1,000 in the eity since 1871, t! e Assessed valuation.
Assessed '• valuations (true value), tax rate, Ac., have
j
value of real estate being noar its cash value:
been:
.,

jLI

.

~




„

CITY

14
Subscribers will confer a great favor by

Size

outstanding.

SI. Louis—(Continued.)—
Renewal purposes, gold or

$1,000

Renewal bonds,

$1,074,000

1,000

1873
1875
1874-’79
1880

coupon...

gold, $ and £
Bridge approach bonds (gold)
St. Louis County bonds assumed—

Rate.

Value.

notes on first page of tables.

sterling
Renewal, &c., bonds, gold, $ and £
Renewal, Ac., bonds.gold,$ and £,

INTEREST.

Amount

or

Bonds.
For explanations see

707,000
2,747,000
565,000

1,000

1,000

461,000

500
\

1872

1187596.
19685187796..'78
Insane

Asylum

County Jail

General purposes, gold
Renewal
Park bonds, coupon, gold
Countv bonds

St. Paul, Minn.—Revenue bonds
Preferred bonds
8 per cent bonds
Lake Superior A Mississippi Railroad
St. Paul & Chicago Railroad.
Public Park (Como.)
Local improvement
Bonds

..

.

Salem, Mass.—City debt

Citydebt

Water loan
do

(gold)..

San Francisco— Bonds of 1858, coupon
Central Pacific Railroad, coupon
Western Pacific Railroad,
do
School bonds,
do

(gold)
do
do

do

Judgment bonds,

School bonds
School bonds
Park improvement

do

bonds

Hospital bonds

House of Correction bonds

City Hall construction
Widening Dupont St. (Act March 4, 1876)
Savannahf(?a.—New compromise bonds
Somerville, Mass.—City debt
City debt
do
do
do
do

1867
1,000
1868
1,000
1872
1,000
1873 to ’76
1,000
1875
1,000
1875
1,000
Various. Various
Various. Various
Various
500 &c.
1868
1870
1,000
1873
1,000
1873
1,000
1879
1,000
100 Ac.
100 &c.
m

Judgment bonds, coupon (gold)

1,000

1853 to ’55

Bonds to railroads, coupon

m

m

1877
1858
1863 to ’64
1864
1865
1866 to ’67
1867
1870 to’72
1874
1872 to ’75
1871 to ’73
1874
1875 to’76

1,000
1,000

r500
500
500
500
500
500
500
500
500
500
500
500

1876
1879

100 Ac.

Large.

Various.

Large.

Various.

Large.

’

lOOOAc.

$155,000 J. AJ.)

•

Springfield, Mass— City notes
City bonds
Water loan ($200,000 are 6 per cents)

•

•

Railroad loan

Water works
8hort bonds, chargeable on

special assessm’ts

Estate.
1876'.... $84,981,000
1877.'...
85,789.800
86,341,100
86,816,100

Tears.

Personal

Property.
$36,084,200

$1,000.
$14 50
14 50
14 50
14 00

•

•

1,000
1,000
1,000

•

....

....

....

....

Large.
....

500 Ac.
500 Ac.

•

•

•

•

Various.
500 Ac.

$9,632,246
10,294,446
10.590.550
10.475.550

$53,661,475

$1,958,900

48,196,975
42,658,350
37,717,175

2,003,800
1,706,300
1,584,940

Funds/Ac.

$1,123,442

per $1,000
in old Wards.
18*75
20*21
19-64
21-79533

1,195,253
1,292,697
1,237,008
(V. 28, p.

Richmond, Va —Real estate assessed, 1880,

Total
Debt.

$5,594,686

5.549.186
5,471,686
5.446.186

$28,348,283; personal,

Tax rate, $1 40.
Rockland, Me—Valuation of real estate, 1879, $2,488,883 ; personal,
$1,069,436. Tax rate, $29 per $1,000.
St. Joseph, Mo.—Population in 1870 was 19,565, against 8,932 in
1860. Assessed valuation of property, $11,000,000; rate of tax,-23
mills.
(V. 23, p. 135, 175 ; V. 25, p. 408 ; V. 28, p. 477.)

$7,471,488.

St.

Lou&.—Population by the United States census in 1870 was
The city and county were merged

310,864, against 160,773 in 1860.

by law in 1877 and city assumed the county

bonds. The Comptroller

gives the following in his report to April, 1879 : The liabilities appear as
follows: The bonded debt at the close of fiscal year (April 9, 1880) is
$22,507,000. A claim of the St. Louis Gaslight Company for gas fur¬
nished. amounting in all to about $850,000, was decided against the city in
1880. The sinking fund at the commencement of the present fiscal year

-was

$547,181.

Assessed valuation of property and tax rate have been:

Real Estate /—Rate of tax per $1,000.-^
and Personal
New
Old

Years.

Property.
$162,465,410
179,708,760

Limits.
$20 00
5 00

173.086,330

5 00

Limits.
$19 00
17 50

Bonded

Sinking

Debt.
$16,319,000
23,067,000

Funds.
$718,588
716,802

17 50
> 22,655,000
590,095
164,399,470
5 00
22,596,000
547,181,
St. Paul, Minn.—Population in 1870 was 20,030; in 1879 (claimed):
52,000 Assessed valuations of taxable property and tax rate have been




New York or London.
M. A N.
do
do
M. A N.
do
do
J. A J.
do
do
J. A J.
J. A D. N. Y., Nat. B’k Commerce.

5

Years.

Nov.

Dec.

Personal

Real Estate.

Property.

$20,836,710

$6,919,216

Rate of Tax
per

$1,000.

22 mills.

10,1892
1880

July 1,188T
Sept. 1, 1883
June, 1892
1889 to 1896
April 1,1905
May 1, 18951880 to’90
1883 to ’86

1889, ’90/96 1888 A ’98
1900
1903
1893

April 1, 1904
1879 to 1889
Jan. 1, 1891

Apl. 1,1883-1898
July 1,1904
Jan. 1, 1888
Oct. 1, 1883
July 1, 1894
Mayl, 1895
April 1,1881
Oct. 1, 1887
June

1,1882to’90

July 1, 1894
1897 A 1904
Nov. 1, 1891
July 1,1894
1899

....

-

1,1893

May 1, 1895
1894 A 1899
Jan. 1, 1900

....

'

Rate of tax

Property.

Years.

Due.

J. A J. N. Y., Nat. Bk. Commerce.
do
do
J. A J.
M. A S.
do
do
do
do
g- J. A D.
do
do
g. J. A J.
do
do
g- A. A O.
1,900,000
do'
do
500,000
g. M. A N.
707,425 5, 6 A 7 M. A N. N. Y., Kountze Brothers,
do
do
M. A N.
7
48,710
do
do
Various
8
263,125
do
do
6
J. A D.
200,000
do
do
6
J. A D.
100,000
do
do
7
100,000
do
do
7
J. A J.
100,000
do
do
6
A. A O.
115,000
J. A J.
5 A 6
City Treasury.
110,000
J. A J. Boston, Merchants’ Bank.
6
300,000
do
do
A. A 0.
6
500,000
do
J. A J.
do
5
398,500
San Francisco.
6 g. J. A J.
542,000
do
7 g. A. A O.
435,500
do
7 g. J. A J.
377,000
do
7 g. M. A N.
250,000
do
7 g. A. A O.
197,000
do
7 g. A. A O.
246,000
do
7 g. J. A D.
385,000
do
A J.
6 g. J
200,000
do
6 g. J. A J.
475,000
do
6 g. M. A N.
210,000
do
7 g. J. A J.
150,000
do
6 g.
750,000
do
7 g. J. A J.
915,000
New York and Savannah.
5Q-F.
3,000,000
A. A O. Boston, Nat. Security Bank
7
10,000
do
do
A. A O.
6is
461,000
do
do
J. A J.
6*2
165,000
do
do
6
Various
115,000
do
do
Various
5i$
140,854
do
do
Various
5
200,000
do
do
Various
6*2
325,000
do
do
320,000 5*2,6,6is Various
Various
City Treasury.
4^,6
222,000
Various Boston, First National B’k.
6
211,000
do
do
A. A O.
6 A 7
1,200,000
do
do
A. A O.
7
280,000
1,310,000 6, 7 A 8 Various N. Y., Imp. A Trad. N. Bk.
do
do
7-3
M. A N.
447,000
do
do
8
Various
1,000,000
do
do
Various
7 A 8
640,300
J. A D.
5 A 6
City Treasury.
45,000
do
6
J. A J.
500,000
A. A O. C.Treas.ABost. Mchts.’ Bk.
6
800,000
do
do
5
Various
500,000
do
do
5 A 6
Various
311,900
do
do
Various
5 A 6
385,400

The bonds of Genesee Valley
provided for by net receipts from a lease of
Assessed valuation (60 per cent of true
Personal

Pay’ble

7
7
6
7 A 6
6
6

Rochester.—Total debt, $5,966,410.

Real
Estate.

Principal—When

7 A 6 g.

100,000
500,000
600,000
850,000

Sinking

Total
Debt.

valuation, $168,547,726; city valuation, $115,581,200

value), rate of tax, Ac., have been:

g.
g.
g.
g.
g.

950,000

578.)

Railroad loan. $168,000, are
Baid road to Erie Railway.

6
6
6
5
6

Tables,

Where Payable, and by
Whom.

When

Assets in

Rate of
Tax per

32,085,000
30,699,400
28,765,600

•

Large.
Large.

....

($305,400 reg., $80,000 coup.) —

Real

•

....

City debt, registered (5 pieces,$100,000 each)
do
($250,000 reg., $550,000 coupon).
do reg. ($200,000 J.AJ., $300,000 A.AO.)
8ewer loan ($92,000are J. A D., balance J.AJ.)
Water loan

•

Large.

’70 ,’7i,’76
1870
1873 & ’74
1875-’78

regist’d.

Worcester', Mass.—City debt, coup, and

•

•

....

Toledo, 0— General fund city bonds, coup
Toledo & Woodville Railroad, coupon

State

Ac.
Ac.
Ac.
Ac.
Ac.
Ac.
Ac.
Ac.
Ac.
Ac.
Ac.
Ac.

....

.

Park Awat’r ($170,000 A. AO.;
Water loan

[Vol. XXX.

giving Immediate notice of any error discovered in these

Date of

DESCRIPTION.

SECUEITIES.

1896
Feb. 1, 1909
April 1, 1879
April, 1879 to ’84
July 1, 1880 to ’84
Oct.’81-’4,July,’85
July, ’84, Apl.,’95

Apl.,’95, July,’96
1881. to 1884

1880 to 1906
1879 to 1884

1880-1889

Apl. 1,’94, to 1905

Apl. 1, 1879-1893

1880 to”94
May, 1900
June.’93 A Sep.,*94
1879 to’81
1879-1884
Jan. 1,1881

April 1, 1892
1887-89 A 1905
1880 to1899
1880 to 1906

Total

Sinking

Debt.

Funds, &c-

$1,323,812

$616,292

1,332,500
551,755
“
1,327,200
“
567,642
“
1,356,444
616,000
“
17,300,766
1,519,310
656,000
—Valuation of real estate is about 40 per cent of true value.
Salem, Mass.—The sinking fund amounts to about $200,000, and the
bonds are valued at par; $1,146,000 of debt coupon, balance registered;
total, $1,452,678.
Population, 1875, 25,958. Tax valuation, 1879,
$22,978,677.
‘
San Fran cisco.—Population by the United States census of 1870 was
149,482, against 56,802 in 1860; in 1876 claimed 272,000. Real estate
for the fiscal year ending June 30, 1878, was assessed at $190,221,003;
personal property at $70,041,340. About $54,000,000 of mortgages are
now omitted from assessment.
Sinking funds raised annually amount to
$263,500. Tax rate in 1877-8 was $1 60 per $100, for city and county
purposes.
(V. 28, p. 165.)
Savannah, Ga.—Default was made on interest Nov. 1, 1876, in conse¬
quence of yellow fever and non-collection of taxes. The compromise
now virtually carried out is given in V. 26, p. 625, by which new 5 per¬
cent bonds are exchanged for the face of old bonds; and for interest upto Feb. 1, 1879, 58 per cent of the face value in similar bonds. Assessed:
value of real estate, $14,000,000; personalty, $4,200,000; tax rate, l*a
percent.
Population in 1870, 28,235, against 22,292 in 1860. (V. 26>
p. 18, 626 ; V. 27, p. 122, 173, 568; V. 28, p. 17.)
Somerville, Mass.—Total debt, January 1, 1880, $1,585,000; sinking
fund, $198,000. Except $140,000 5s in $1,000 pieces, all bonds are in
$2,000 to $50,000 pieces.
Springfield, Mass.—Total debt, January, 1880, $1,960,750. The rail¬
road debt falls due $20,000 each year. Poimlation in 1875, 31,053. Tax
18,835.525
18,993,545
17,300,486

6,340,493
5,452,871
5,491,026
5,942.503

valuation and rates have been:
Personal
Years.
Real Estate.
Property,

16
18
13
15

Total
Sinking
$1,000.
Debt.
Funds.
$31,125,660 $8,398,912
$17 20
$2,120,819 $335,923
27,647,560
7,461,896
16 20
344,453
2,013,785
23,737,000
6,955,776
1,946,611
303,989
13 00
11 00
153,633
22,746,330
6,637,845
1,953,716
22,211,230
7,230,094
12 00
1,960,750
139,279
—Valuation of real estate is about 67 per cent of true, value.
Toledo.—Total debt, January, 1879, was $3,531,296. Of this the debt
payable by special assessments was $640,300, and the certificates of
indebtedness, $103,147. Taxable valuation of real estate, 1878, $134,030,070; personal, $5,567,000. Tax rate, $3 28 per $100. (V. 30, p. 356.)
Worcester, Mass.—Total debt, January 1, 1880, $2,542,300. Assets,
$210,658, including $94,937 sinking fund. Population, 49,317 in 1873.
Tax valuation, 1870, $34,018,450; 1878, $39,572,158; tax rate, 1*56.
Rate of Tax
per

mSsssms.

EAILEOAD

April, 1880.]

STOCKS

Subscribers will confer a great favor by giving
DESCRIPTION.
For explanation of column headings, &c., see
on first page of tables.

Miles

notes

Alabama Central—1st mortg. gold coupon
Ala. d Gt.South'n. —Receiver’s certific.of Ala.&Cliatt
1st mortgage, coupon, (for $1,750,000)

Albany d Susquehanna^—Stoc^
1st

mortgage

'Albany City loan (sinking fund, 1 per ct. yearly).
2d mortgage...Consol, mort. (guar. D. &H.) coup., may be reg...
Allegheny Valley—Stock
General mortgage (Riv. Div.)
Bonds to State Pa. (endorsed) 2d mort.. East ext.
1st mort., East’ll Extern, guar,

by Pa. RR

Funding income bonds, with traffic guarantee
Ashtabula d Pittsburg— 1st mortgage, coup, or reg..

Atchison Col. d Pacific—1st mort., guar
Atchison d Nebraska—Stock

Date
of
of
Road. Bonds

95
296
177
142
142
142

142
259
132
110
110
•

•

.

.62
234
176
149

1878

1878
'm

m

»

or
Par
Value.

Outstanding

$1,000

$1,000,000

1,000

600,000
1,100,000
3,500,000

100

1,000

mortgage
Atchison Topeka d Santa Fe—Stock
1st mortgage, gold
Band grant

mortgage, gold
Consol, bonds, gold

•

•

•

•

867
....

....

1,000
1,000

1,000

1874
1878
1879

2,166,500
1,000
4,000,000
100,000
3,000,000
10,000,000
1,000
100 Sic.
6,986,800
1,000
1,500,000
1,000 16,000 p. in.

•

m

m

m

1878
•

•

•

•

1869
1870
....

-

•

•

•

100 &c.
100
500 &c.
500 <fcc.
....

1878

27*2 i 872

1,000

412,000

100

65

1875
1878

1,000

148
*

44

1,000

1878
1877

'500

Alabama Great Southern.—Northeast & Southwest Alabama char¬
tered December 12, 1853. Re-organized as Alabama A Chattanooga
October 6, 1868, and was opened May 17, 1871. Length of road, 290

miles; operated length (including 6 miles leased from Nashville Chatta¬
nooga & St. Louis), 296 miles. Default made January 1, 1871, and
road sold under foreclosure January 22, 1877.
Present company
■organized November 30, 1877. New company assumed Receiver’s cer¬
tificates and issued ne/w bonds for $1,750,000. The lands were conveyed
in full settlement to the holders of the $2,000,000 of Ala State bonds.
These lands (about 550,000 acres) are held by trustees. (V. 30, p. 117.)
The road and equipment have been thoroughly renewed. Capital stock—
Common, $7,830,000, and preferred 6 per cent, $783,000; funded debt,
$1,750,000, and Receiver’s certificates, not exceeding $1,200,000; total
as per re-organization terms, $11,563,000.
Over $400,000 of the Re¬
ceiver’s certificates are disputed, and therefore only about $200,000 of
those above are acknowledged as valid. Gross earnings in 1879, $444,181, and operating expenses, $351,513; net earnings, $92,668. (V. 27,
p. 67, 85, 121. V. 30, p. 117.)
Albany d Susquehanna.—Chartered April 19,1851, and road opened
January 14, 1869. Length, Binghamton to Albany, 142-59 miles.
Steel rail, 135 miles.
Leased in perpetuity from February, 1870,
to Delaware & Hudson Canal Company; rentals, 7 per cent on
stock and bonds. Additions and betterments charged to lessors, and
cost made part of investment. In 1871 lessees built the Lackawanna &
Susquehanna Railroad from Nineveh to their Pennsylvania coal fields,
and secured the joint use of the Jefferson Railroad. This opening lias
given a large coal traffic to the road and to the other Delaware & Hud¬
son leased roads north from Albany to the Canada line.
Capital stock,
$3,500,000; funded debt, $6,045,000, and other liabilities (advances,
Ac.), $373,461; total investment ($69,559 per mile), $9,918,461. The
consolidated mortgage is for $10,000,000, of which $3,450,000 is to
retire old bonds, and balance for a part of old stock and to lessee for
improvements. Operated road, including two leased branches, 177
miles. Gross earnings in 1879, $1,218,237, and net earnings $558,268,
against $456,580 in 1878. Interest, dividends, and rentals, $700,761.
Boss to lessees, $142,493. (V. 27, p. 602; V. 29, p. 581.)
Allegheny Valley.—Chartered April 4, 1837. Road opened through
to Oil City (132 miles) February 2, 1870. Low-Grade Division, Red
Bank to Driftwood (110 miles) opened May 4, 1874.
Total length,
including
branches, 259*2 miles.
The company became embar¬
rassed in 1874 and compromised with its creditors. It still falls short of
•earning interest liabilities, which amount to $1,630,000 a year, viz.: on
mortgage bonds, $1,152,000, and on income bonds, $478,000. The amount
•of income bonds authorized is $10,000,000; these receive all revenue left
-after interest on prior liens, and any deficiency is made up by additional
issues. The income coupon for April 1,1880, received $8 00 in cash
:and $27 00 in bond scrip. Of the income bonds the Pennsylvania Rail¬
road Company hold $4,233,000, the interest on which is paid altogether
in bond scrip; the bonds held by individuals are paid in cash and scrip.
Interest and sinking fund paid,
$1,152,486. Interest, &c., in excess of
net earnings, $390,6ol. The earnings, &c., for, five years were as follows:
Gross
Net
Freight (ton)
Passenger
Years.
Mileage.
Mileage.
Earnings.
Earnings.
12,448,963
$984,642
95,859,906
$2,399,638
14,939,527
2,438,254
1,083,796
98,029,140
2,492,080
19,833,405
1,144,972
106,609,036
1878
15.©74,054
84,077,541
1,910,222
915,727
1879
13.976,446
94,606.809
1,745,316
761,835
<V. 27, p. 356; V. 28, p. 399; V. 29, p. 356.)
Ashtabula d Pittsburg.—Youngstown, O., to Astabula Harbor, O., 62*6
miles; organized as Ashtabula Youngstown & Pittsburg in 1870, and road
opened May 1, 1873. Pennsylvania Company, as lessees, guaranteed
bonds up to January 1,1877. Default July 1,1878, and property sold
August 21,1878. Existing company organized September 25,1878, and
it is leased by Penn. Co., which pays net earnings to A. & P. The com¬
mon stock is $958,491 and preferred stock $700,000.
Earnings, See., for
five years were as follows:
Years.
Bonds.
Stock.
Earnings. Expenses. Profits.
1875
$1,817,582 $1,900,000 $226,816 $168,486 $58,330
1876.
266,641
1,817,582
1,900,000
178,998
87,643
1877.
1,817,880
2,000,000
227,206
176,993
50,213
1878
271,658
1,671,867
181,731
89,927
1,500,000
1879.
252,604
1,658,491
1,500,000
183,625
68,978
....

.

.




1,125,000

10,615,000
7,041,000
3,265,000
3,389,000

500 &c.

(V. 27, p. 40, 566.)

....

3,341,650

78,000
480,000
413,000

Alabama Cen tral.—Chartered as Alabama & Mississippi February 17,
1850, and road opened from Selma to York (81 miles) August 10, 1863,
Subsequently name changed to Selma & Meridian, and June 21,1871.
re-or^anized as Alabama Central. Default January 1,1872, and finances
re-adjusted in 1878. Road opened from York, Ala., to Lauderdale,
Miss. (14 miles) November, 1878, and joint use of Mobile & Ohio to
Meridian (18 miles) leased. Total line owned, 95 miles; operated line,
113 miles. Capital stock, $2,000,000; first mortgage (on 95 miles) 6 per
cent 40-year bonds, due July 1, 1918, $1,000,000. Income mortgage
8 per cent (if earned) 40-year bonds, due July 1, 1918, $1,400,000;
total stock and bonds under re-adjustment, $4,400,000. Gross earnings
in 1879, $204,319, and expenses, $144,236; net traffic earnings, $60,083.

.

Rate per
Cent.

6
8
6 g.

854,000

When

Whom.

7

7:30

Stocks—Last
Dividend.

N. Y., Jesup, P. & Co.
July 1, 1918
1882
S.
Jan. 1, 1908
J. N.Y.,Farmers’ L. & T. Co
Jan. 1, 1880
J. N. Y., B’k of Commerce.
J. N.Y.,Del. & Hud.Can.Co
July, 1888
do
do
N.
Nov., 1895-’97
do
do
0.
Oct., 1885
do
do
& O.
April 1„ 1906

J.

& J.

J.

7
6
7

&
&
&
&
&
&

*

5
7

6 g.

or

7
G
6
1
7
3
7
7
7
7
8
7
7
3
7

'& ' J. N. Y., Winslow, L. &Co. March 1,1896
Jan’ary Harrisburg, Treasury. 100,000 y’rly.
A. & O. Philadelphia or London April 1, 1910
Oct. 1. 1894
A. A O.
Pittsburgh.

F. & A.

Phil., Fid. I.T.&S.D.Co.
N. Y., Un. Pacific RR.
Boston, Office.
S.
Boston, at Office.

Q.-F.
M.
F.
J.
A.
A.
J.
J.
M.
J.
F.
J.

&
&
&
&
&
&
&
&
&

7 g.

J.

Sc J.

7 g.

A. & O.

g.
g.
g.

g.
g.

A.
J.

O.
0.
J.

J.
N.
J.
A.
& J.

200,000

1,719,000
1,067,000
120,000

Bonds—Princi -

pal, When Due.

Where Payable, and by

Payable

M.
J.
J.
J.
M.
A.
A.

3^2

1,000,000
933,000
1,967,000
2,320,000

Construction notes.

Band income bonds, 5 to 10 years
Pottawatt’mie b’ds on 78,158 ac. land(contingent)
Wichita & Southwest, (leased) 1st M., gold, guar..
Kang. City Top. & West., (leased,) stock
do
do
lBt mort., gold
do
do
income bonds
Pueblo & Ark. Valley, (leased,) 1st M., gold
do
do
1st mortgage
Pleasant Hill & De Soto (leased), 1st M., gold

Amount

50

1866
1870
1871

15

INTEREST OR DIVIDENDS.

Size,

65781781
1st

BONDS

immediate notice of any error discovered in tbese Tables.

m

1863
1865
1865
1876

AND

■

Boston.
do
do
do
do
do
do
do
do
do
do
do
do
do

Aug. 1, 1908
May 1, 1905
Dec., 1878
Mar. 1, 1908
Feb. 1, 1880
July, 1899
Oct. 1, 1900
1903
1882
Jan. l,’83-’88
Nov. 1, 1879

July

1, 1902
1880

Feb. 2,

July 1, 1905
1905
1907

Atchison Colorado d Pacific—A notice issued in Feb., 1880, by Henry
Day and Oliver Ames, trustees of the first mortgage bonds, stated that
the Waterville & Washington, Republican Valley, Atchison Solomon
Valley & Denver and the Atchison Republican Valley & Pacific railway
companies had been consolidated into a new company called the Atchison
Colorado & Pacific Railroad Company, and a new first mortgage of $16,000 a mile, with interest at 6 per cent per annum, issued to take the
place of the first mortgage bonds of the railroad companies named. The
road is an extension of the Union Pacific Central Branch, by which the
bonds are guaranteed and the road is controlled, and the whole system Is
virtually owned and controlled by Union Pacific. (V. 30 p. 221.)
Atchison & Nebraska.—'The road (148 miles) was opened Aug. 27,1872.
Default was made Sept. 1,1873. In 1880 the road has been opened toajunction with the Union Pacific at Columbus, Nebraska.
Reorganization took

place March 1, 1878. Under the scheme adopted, the old stock was simk;
the old bonds ($3,500,000) were exchanged for 30 per cent in new bonds,
and 70 per cent in new stock; and over-due coupons, reduced 50 per cent,
paid in stock. In March, 1880, this road was leased to the Burlington Sc
Missouri River in Nebraska, and with that road goes under the Chicago
Burlington & Quincy management. (V. 28, p. 399; V. 30, p. 221.)
Atchison Topeka d Santa Fe.—Main line, Atchison, Kan.,'to State line*
Colorado, 470 miles; proprietary lines, December 31, 1878,398 miles»
additional lines built in 1879—in Kansas,. 165 miles, and in New Mexico*
163 miles; total at close of 1879, about 1,196 miles. Construction in
active progress and road opened to Santa Fe. An agreement was made
in February, 1880, with the St, Louis & San Francisco, for the joint con¬
struction of a line to the Pacific, under name of Atlantic & Pacific.
For terms see St. Louis & San Francisco in this Supplement, and also
the circular published in Chronicle of April 24,1880, which contained
the following proposal from the A. T. & S. F. Company.
“For four
thousand dollars ($4,000) in cash, payable ten per cent within ten days
after allotment, and not exceeding ten per cent (10 per cent) in any ono
month thereafter, the Atlantic & Pacific Railroad Co. will deliver to the

subscriber four thousand dollars ($4,000) of its first mort. bonds, and
three thousand dollars ($3,000) or its income bonds. * * All subscrip¬
tions must be made in blocks of four thousand dollars ($4,000), or multi¬
ples thereof, and on condition that they may be canceled at any time
before forty per cent shall have been called, in whole or in part, but not
less than twenty per cent at any one time; and in such case the sub¬
scribers shall be repaid the, money paid by them, with interest at six per
cent, and shall receive income bonds at the rate of $500 for each

of subscription canceled.”
The company in 1879 was
In
engaged in sharp litigation with the Denver & Rio Grande.
January, 1880, the terms of mutual agreement, by which the suits
were all to be terminated, Avere reported as follows: That the Atehison
Topeka & Santa Fe Company relinquishes the lease of the Denver Sc Rio
Grande, and consents to the restoration of the latter company’s stock.
The Denver & Rio Grande goes back to its owners, and the company is
to have the line to Leadville (through the Grand Canyon) upon tne pay¬
ment of the cost of the road already built by the Atchison Company, and
$400,000 in addition. The latter company has completed about twenty
miles of the road, and the grading for the rest of the way. The Denver
& Rio Grande is to stop the construction of its Pueblo and St. Louis line
east from Pueblo. Its extension into New Mexico is to be built only to a
point half-way between Conejos and Santa Fe. The Atchison Topeka Sc
Santa Fe Company agrees not to build to Denver or Leadville, or to any
other point on or wrest of the Denver & Rio Grande Railroad. An equal
division of the Leadville, San Juan and other Southern Colorado busi¬
ness from the Denver Sc Rio Grande, is to be made between the two
companies at Pueblo. The Atchison Topeka <fc Santa Fe will also receive
one-quarter of the Denvei traffic with the Missouri River and eastern
points. The Atchison Topeka & Santa Fe Company reserves the right to
build a line of about thirty-three miles in length to its coal mines in
Colorado, for coal trains only, the coal to be used for its own purposes
and for sale down the Arkansas Valley. The agreement is to be binding
for ten years, and a judicial decree is at once to be entered to affirm this
settlement.
Operations and earnings for five years have been aa
$1,000

follows:

Years.

„

Passenger
Miles.
540
711
738
807

1,196

Mileage.

7,166,852
17,031,491

Freight (ton)
Mileage.

*

46,244^990

61,791,130

22,008,549

72,719,170

31,921,869

133,180,182

Gross
Earnings.

$1,520,358
2,486,582

2,679,106
3,950,868
6,338,447

,

Net
Earnings.
$821,608
1,311,093
1,356,421
1,909,396
.

Two million dollars stock was issued for equipment, Sec., June, 1879.
Land grant estimated to be 2,932,784 acres, of which
acres
were sold to January 1,1879. -The K. C. T. & W. is
per
of gross earnings, rising to 34 per cent in 1880
New Mexico & Southern Pacific is leased for thirty years at 37 per cent
of gross earnings and a rebate of 15 per cent on all
the Atchison Topeka Sc Santa Fe Road, and 11 shares of A. T.
stock was offered for 14 shares of N. M. Sc 8. P. stock till April 10,1880;
See V 30, p. 168, 383. (V. 28, p. 120, 222, 301, 379, 400,

502, 553, 623, 641; V. 29. p. 40, 66, 95, 119, 224,
562, 583, 630; V. 30, p. 16, 42,143, 168,191, 383,

865,161
cent
leasd at 30
and thereafter. The

business to and from
&S.F.

427, 4T5,

293, 356, 406,

408.)

489

RAILROAD STOCKS AND BONDS.

16
Subscribers will confer

a

great favor by giving immediate notice of any error discovered in these Tables*

Miles Date Size, or
of
of
For explanation of column headings, &c., see notes
par
on first page of tables.
Road. Bonds Value.

Amount

Outstanding

187-S9
6781
Atchison Topeka d Santa Fe—(Continued)—
Florence El Dorado & W. (leased), 1st mort., gold
New Mexico & So. Pacific—Stock
do
1st mortgage, gold....
do
Atlanta d Charlotte.—New pref. mort

Mortgage bonds

Atlanta d West Point—Stoca
Atlantic Miss, d Ohio—Stock (com’n. pref. & guar.)..
1st mort. consolidated, gold (for $15,000,000)
2d mort. to the State (no interest till 1880)
Norfolk <fe Petersburg—1st mortgage, extended.,
do
do
1st
do
do
do
do
2d
do
South Side—1st pref. consol, mort
do
2d
do
guar. Petersb’rg
do
3d
do

Virginia & Tennessee—Enlarged mortgage
do
do
4th mortgage
do
do
Registered certificates....

do
do
Interest funding bonds....
Atl.dk Pac. -1stM.,g.,s.f.,cp.orreg.(for $25,000,000)
Atlantic d St. Lawrence— Stock, sterling
Portland city bonds, 1st mort., sinking fund
2d mortgage, sterling, 5-20 years
3d
do
do
do

18745-36

Augusta d Savannah—Stock
Bald Eagle Valley—Gen’l mort.,(s. f. $4,000 per yr.>
Baltimore d Ohio—Stock
Preferred stock

31

150
150
150
150
53
54

595

Washington branch
Loan, 1853
do
1870,sterling, £800,000, sink, fund
Baltimore loan, 1855-’90, sink, fund

i.878

30

1,000

1877

1,000
1,000

1871
1871
1857
1857
1868
1866

.

.

.

■

500 &c.
500 &c.

1,000
1,000

200 &c.
1866
200 &c.
1866
1854
1,000
1865
1,000
Var’us Various
100 &c.
1869
1880
1,000
£100
1868
1,000
£100
1864
£100
1871
100
1880
1,000
100
100
100
1853
1870
1855

Atlanta d Charlotte Air-Line.—Charlotte, N. C., to Atlanta, Ga., 2G9
miles. Successors of Richmond & Atlantic Air-Line, which was a con¬
solidation (1870) of three separate lines in North Carolina, South Caro¬
lina and Georgia. The whole road was opened for traffic September 28.
1873. Soon after completion default w;is made, and the property passed
to a receiver November 25, 1874. Sold under foreclosure December 5,
1876, and purchased by the bondholders, who formed the existing cor-

?oration February 27, 1877, and possession wasthe Piedmont 16, 1877.
he line forms the Southwestern Division of
taken April Air-Line

(under control of the Richmond & Danville Railroad), extending from
Richmond, Va., to Atlanta, Ga., 550 miles. Capital stock $1,700,000,
and funded debt $4,750,000; total investment ($23,978 per mile),
$6,450,000. Total receipts (1878-79) $730,974, and expenses $634,031;
net earnings, $96,943.
Interest paid (preferred mortgage coupons),
$35,000. Surplus over interest, $61,943. Interest on the first mortgage
registered bonds ($4,250,000) has heretofore been conditional; but from
January 1,1880, it is compulsory. (V. 28, p. 277, 427; V. 30, p. 272.)

Atlanta d West Point.—East Point, Ga., to West Point, Ala,, 81 miles.
Chartered December 6, 1847, and opened for traffic September 10, 1857.
The Central of Georgia is used to reach Atlanta, 0*3 miles, and for this
joint use the company pays $6,000 a year. Besides the stock ($1,232.200)
there are out-standing $83,000 in 8 per cent debentures. Cost of road,
equipment, Ac. ($14,784 per mile), $1,193,636; gross earnings in 1878-

Where

7 g.
7
7
4

Boston.

....

Atlanta, Ga., at Treas’y.
....

3*3
6
4
3

5
6
6

6 g.

& 0. N. Y., First Nat. Bank.

Oct.

J.
J.
J.
J.
J.
J.
T.
J.
J.
J.
J.
M.
M.
A.
M.
J.
J.
M.
J.
M.
4.
M.
J.

6
6 g6 g.

2,833,520

1908

April 1,1897
Jan. 1, 1907
Jan. 1, 1880

A.

7
8
8
6
6
6
8
8
8
6 g.
3 g.

2.882,956

July 1, 1907

New York, Office.
do

....

”8'

787,000
1,500,000
713,000
1,022,900
400,000
14,792,566
5,000,000
1,650,000
1,710,000

Dividend.

do
do

A. & O.
J. & J.
J. & J.

7 g.

5,484,000

Stocks—Last

Whom.

Pay’ble

....

pal,When Due.

Payable, and by

....

25,000 p. m.

—

When

A. & 0.

7 g.

4,250,000
1,232,200
6,921,900
5,470,000
4,000,000
306,000
157,000
458,000
684,000
621,000
452,500
990,000
969,000
84,190
226,900

100

......

Rate per
Cent.

$310,000
2,212,000
2,212,000
500,000

100

265*3
265*3
87
428
428
428
81
81
81
133
133
133
214
214

$1,000

1877

380
380

Bonds—Princi¬

INTEREST OR DIVIDENDS.

DESCRIPTION.

&
&
&
&
&
&
&

*J. N.Y., Perkins & Choate.

Jan.
Jan.

&
&

&
&
&

&
&
&
«k

&
&
&
<fe
&
&

&

J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
8.
N.
0.
N.
D.
J.
N.
J.
N.
0.
8.
J.

do
do
do
do
do
do
do

.

do
do
do
do
do
do
do

Lynchburg Office.
N.Y., Perkins & Choate.
New York and Boston.

London, Gr. Trimk Rw.
Portland.

London, Gr. Trunk Rw.
do
do
Savannah.

Phila.,Fid’lity I.T.&c.Co
Baltimore Office.

Balt., Merchants’ Bank.
Baltimore Office.
Baltimore Office.
London.

1, 1901

1, 1887
1, 1887
July 1, 1893
Jan. 1, ’84-’90
Jan. 1, ’84-’90
Jan. 1, ’86-’90
July 1, 1884
Men. 1, 1900
Jan. 1, 1875
July 1, 1880
July 1, 1910
Mar. 15, 1880
May 2, 1886
Oct. 1, 1884
Oct. 1, 1891
Dec., 1879
Jan. 1, 1910
May 15, 1880
Jan., 1860
April 16, 1880
1885
1895
1890

Baltimore, Office.

Passenger
Miles.
428
428

Years.

Freight (ton)

Gross

Net

Mileage.

Mileage.

Earnings.

Earnings.

9,470,228
8,079,780

70,797,576
73,662,480

$1,781,710
1,673,131

$486,889

612,043

—(V. 28, p. 97, 199, 223, 476, 624; V. 29, p. 356; V. 30, p. 66,272,298.)
Atlantic d Pacific.—This is the company formed to build to the
coast in connection with the Atchison Topeka & Santa Fe and
Louis & San Francisco. See Chronicle of April 24,1880.

Pacific
the St.

Atlantic d St. Lawrence.—Portland, Mo., to Island Pond, Vt. (149*2
miles), there connecting with Grand Trunk of Canada, to which leased
for 999 years, August 5,1853, at a rental equal to
and bond interest. Capital, $5,484,000 (of which

6 per cent on stock

$27,000 is in U. S.
Total investment, $8,484,000, or
currency), and bonds $3,000,000.
$56,560 per mile. In 1879, £100,000 bonds were paid off by the issue
of stock.

Earnings, <fcc., for four years:
Gross Earnings.

Years.
1875

$1,071,988
983,449
891,375

1877
1878
*
Loss.

921,959

Not Earnings.
*$32,279
*242,601
*234,675
92,584*

—(V. 27, p. 147.)

Augusta d Savannah—Millen to Augusta, 53 miles.
Chartered as
County in 1838 and opened in 1854.
Leased to Central of
Georgia. Has no bonded debt; the capital ($13,830 per mile), $733,000,
represents its cost. Rental, $73,300 per annum. Dividends of 3*3 per
cent are paid June and December each year. Has a considerable surplus
Burke

Surplus, $19,166.
Atlantic

[Vol. XXX.

(V. 27, p. 121; V. 29, p. 300.)

Mississippi <6 Ohio.—'This

was a consolidation, November 12
1870, of Norfolk & Petersburg, South Side and Virginia & Tennessee
in all, with branches, 428 miles.
In all these routes the State of Vir¬
ginia held the controlling interest, and on reorganization sold out to the
oompany for $4,000,000 in second mortgage bonds, non-interest bearing
before July 1, 1880. Default on consolidated bonds was made October
1, 1873. Two receivers appointed June 6, 1876. In process of fore¬
closure. Interest has been paid by Court order on sectional bonds. The
divisional bonds matured and maturing up to July, 1880, have been
extended for ten
years by order of the Court, and new sheets of coupons
are issued to the holders.
Interest on the divisional bonds is paid two or

three months after it falls due. A final decree of sale under the con¬
solidated mortgage was made in May, 1879, but the date of sale
not fixed. The scheme of reorganization is substantially as follows:
The suit of the trustees for the foreclosure of the 7 per cent eonsoii-

fund.

Eagle Valley.—Vail Station, Pa., to Lockhaven, Pa., 51 miles, with
to* Bellefonte, 3 miles; total, 54 miles.
Opened December 7,
1864, and leased to Pennsylvania Railroad Company for 99 years. The
branch is the joint property of the lessors and lessees. Rental, 40 per
cent of gross earnings. Interest, $24,000, and dividends (January and
July, each 2*3 per cent), $27,500). Stock, $550,000. This general mort¬
gage, dated Jan. 1, 1880, was provided for the replacement of the two
Bald
branch

series of bonds.

(V. 27, p. 486.)

Baltimore d Ohio.—Baltimore, Md., to Wheeling, W. Va.,

379 miles;

branches, 56 miles; total owned, 435 miles; and leased lines oper¬
ated with main line, 118 miles; total represented in operating accounts
of the “main stem and branches,” 553 miles; lines operated
and
accounted for separately measure 902 miles; making the total of all lines
controlled and operated by company about 1,455 miles. In all these

lines separately operated the Baltimore & Ohio company are very largely
interested, and have absolute control thereof. An abstract of the last
following
per cent gold bonds, for $6,000,000, having thirty years to run from the annual report is given in the Chronicle, Vol. 29, p. 535, and the follow¬
first of January, 1880, will be issued and delivered to the “ Purchasing ing extracts are quoted therefrom. .The subjoined exhibits show the re¬
Committee” in trust. These are to be used in funding the divisional duction of the indebtedness stated during trie fiscal year:

securities.

All the divisional securities funded

are to

be held in trust,

uncanceled, by the trustees, for the security of the holders of bonds, and
shall only be canceled when all such divisional securities shall have
been funded. If any surplus of bonds remains in the hands of the “ Pur¬
chasing Committee, after all the divisional securities are funded, such
surplus of bonds shall be canceled, or the surplus proceeds of bonds sold
shall be paid over to the new company. There are to be issued second
mortgage 5 per cent gold bonds, for the principal of the consolidated 7
per cent gold bonds, at par, the new bonds having 50 years to run from
the first of April, 1879, these bonds to bear interest at 4 per cent for the
first five years and 5 per cent thereafter. This second mortgage is not
to be foreclosed except by request of ‘‘at least one-fifth of the out standing
bonds, secured by the mortgage, and not then unless the said mortgage
trustees shall deem such proceedings judicious and advantageous to
such bondholders generally.” There shall be issued first income 4 per
cent currency bonds, to represent at par the over-due interest on the con¬
solidated bonds to the first of April, 1879; the difference between the
interest secured by the consolidated 7 per cent gold bonds and the
interest secured by the new second mortgage gold bonds, capitalized
from the first of April, 1879, to the first of October, 1901, inclusive.
There are to be issued second income 6 per cent currency bonds, to settle
.

»

the claim of the State of Virginia, for $1,000,000. These bonds will be
subordinate in all respects, in point of obligation and interest, to the first
income bonds. The new company will create and issue, from time to
time, to the “ Purchasing Committee” such an amount of reorganization
Stock as the “Purchasing Committee” may deem expedient and as may be
conformable to law. “ The ‘Purchasing Committee’ shall consist of four
members, including a chairman, all of wdiom shall be nominated by the
eommittee of consolidated bondholders.” There is a
project for the
consolidation of this company, after foreclosure sale, with the East
Tennessee Virginia & Georgia and the Memphis & Charleston, so as to
make a through line from Norfolk and City Point to Memphis—a total

length of road equal to 992 miles,
past were:
Passenger

Tears.




Miles.
423
428
423

Mileage.
1 >,671,930
1 >,616,924

9,531,442

Operations and earnings for five
Gross

Net

Earnings.

Earnings.

$1,732,453

$673,506
540,539
600,633

Freight (ton)
Mileage.

55,932,364
60,610,288
67,531,874

years

•

1,742,251

1,791,579

REPORT OF OCTOBER

1, 1878.

$2,420,000
2,563,302
2,554,959

Sterling debentures due in 1880 and 1881
Bills payable
Sterling obligations and loans

$7,538,261

Total
REPORT OF OCTOBER

1, 1879.

Sterling debentures due in 1880 and 1881
$2,420,000
Bills payable (for the payment of which the
money is on hand)
539,000

620,507

Sterling obligations and loans

3,579,507

Total

Showing a reduction during the year of
Add payments on account of the principal
sinking funds during the fiscal year

$3,958,753
of debt and of the
,

648,584
$1,607,338

Aggregate reduction

Semi-annual dividends of 4 per cent upon the capital stock were made
in stock on the 15th of November, 1878, and on the 15th of May, 1879.
These dividends amounted to an increase of the capital
stock of
$1,114,836
And the issue of the remainder of the preferred stock, second

400,421

series, amounted to

$1,515,257

Making

$4,607,338, showing the
application of $3,092,080 beyond the amount of stock issued, with
$646,634 on hand in the treasury, after providing for the payment of
$216,300 for the interest on the bonds of the company of maturing October
1,1879. After charging the loss on the stock of the North German Lloyd
Steamship Company, $295,102, the profit and loss account shows an
—whilst the reduction of the indebtedness

was

for the past year of $1,092,738.
that the surplus fund, which represents

It will be seen by this account
invested capital derived from
earnings, and which is not represented by either stock or bonds, now

increase
net

amounts to

$38,204,657.
the report of the transportation department that

It is shown by

the

April, 1880 ]

RAILROAD STOCKS AND BONDS. *

•

Subscribers will confer

a

great favor by giving Immediate notice of any error discovered In these Tables.

DESCRIPTION.
For

explanation of column headings, &c.,
on first page of tables.

Miles Date
of
of
sec notes
Road. Bonds

Size,

or
Par

Value.

Bonds—Princi¬
pal,^When Due.

INTEREST OR DIVIDENDS.

Amount

Outstanding

Rate per When Where Payable, and
Cent.
Whom.
Payable

by

Stocks—Last
Dividend.

Baltimore d Ohio— (Continued)—

Debentures, sterling
Sterling mortgage, sinking fund
Sterling mortgage, sinking fund
:
Purchase of Connellsv. RR (payable $40,000 y’ly)
Loan., ster., (s. f. £7,500) lien on Chic, line bonds
Bonds on Parkersburg Branch
Northwestern Virginia, 3d mortgage, 1855-85
Bonds to State of Maryland
Baltimore d Potomac—1st M (tunnel) gold, s. f. 1 p. c.
1st mort., road, gold, coupon, s. f. 1 per cent
2d mortgage, income, road and tunnel, reg
Bangor dPiscataquis—Bangor loan, 1st mortg.
Belleville d South. Ill
1st M„ sink’gfund, guar
Belvidere Del.—1st mort. due 1877, extended, guar.
2d mortgage bonds of 1854 (guar, by C.
A.)
3d mortgage bonds of 1857 (
do
do
)
Consol, mortgageof 1876
•
Bennington d Rutland—1st mortgage

1188772--35946.

4li
421
263
104

...

...

—

Berkshire—Stock
Boston d Albany—Stock

..

i.

Plain bonds
Loan of 1875, coupon or registered
Boston Barre d Gardner— 1st mortgage
Bosl. Clin.d Fitchb.d N.B.—Stock ($1,750,000
1st mortgage, Agricultural Branch

....

1%
89
90
49
56
64
64
64
84
59
21
324
....

....

38*2

pref.)

Mortgage bonds 1869-70

Bonds

151
29
43
V

Equipment notes

1874-5
1872
1874
1875
1877
1879
1855
1878
1871
1871
1875
1869
1866
1877
1854
1857
1876

1877
....

Sinking fund bonds

....

166
....

....

Consolidated mortgage bonds (for

$2.000,000)

Boston Hoosac Tunnel d Western—Stock

160
26

•

•

1858
1873
....

1874-596.

if.

5

....

1,000

1,000
1,000
500 &c.

1,000
1,000

100
100

1,000
1,000
1,000

20,000,000
5,000,000
2,000,000
400,000
3,047,700
400,000
799,600

100
100 &c.
100 &c.
....

814,000

1874-956.

1,000

....

3,000,000
2,000,000

1,000,000
499,500
745,000
1,200,000
475,000
600,000

1,000

....

1,500,000

1,068,000

500
500

•

....

fi

6
6
6
o g.
6 g6
6 & 7
8
6
6
6
7
7

’61-’74 500 &c.
100
.

9,107,547
800,000

3,000,000
140,000
366,370

1,000
100 &c.

....

eg.

7.744,000

1875

1854
’69-’70
1876

6 £■

8,507,352

£200

1,000

....

$1,200,000

$1,000

i872

....

N. Bedford Railroad bonds ($400,000 are 7s)
Boston Concord d Montreal—Preferred stock
Com. stock (for old dividends & new stock)

£200
£100
£200

528,000
870,000
571,500

800,000
1,000,000

202,000
1,721,000
800,000

1*1
4
7
6
5
2
6
7
7
6
6 & 7
3
6 '
6 & 7

J. &
M. &
M. &
J. &
J. &
A. &
J. &
J. &
J. &
A. &
J. &
A. &
A. &
J. &
M. &
F.*&
J. &
M. &

J. London, Naylor & Co. Jan. 1,’80&’81
S.
London.
Mcli.'l, 1902
iQin
N. London,
Speyer Bros.
J.
Baltimore.
1879-1900
D. Lon.. J. S. Morgan & Co. June 1, 1927
O. Balt.&N.Y., D.,M.& Co. April 1,1919
J. Balt., Mech’s Nat. Bank
1885
J.
Baltimore.
July 1, 1888
J
Baltimore or London.
July 1, 1911
0.
do
do
April 1, 1911
J.
Baltimore.
Jan. 1," 1915

C. Boston, Second N. Bank
O.
N. Y., Russell Sage.
D.
Philadelphia. w
8.
do*
A.
do
J. Treasurer. Trenton,N.J.
N.
N.Y., Union Trust Co.

April 1,' 1899

Oct. 1, 1896
1902
1885
1887
Jan. 1, 1916
Nov. 1, 1907
Q.-J. Stockbridge, Treasurer. April 1, 1880
M. <fc N.
Boston, Office.
Nov. 15, 1879
F. & A.
do
Feb. 1, 1892
J. & J.
do
July l, 1895
A. & 0. Worcester, City Nat. Bk. April lj 1893
Oct. 15,1879
Boston, Office.
J. & J. Boston, Boston N. Bank
July 1/ 1884
J. & J.
do
do
1889 & ’90J
J. & D.
do
do
June 1, 189"6
A. & O.
do
do
,81.’82.’83.,85
J. & J. Boston, Suffolk N. Bank July, ’81 <fc '94
M.
N.
Boston, Office.
Nov. 29, 1879
J. & J.
A. & O.

Boston, Office.
do

do

1889
1893

tonnage of through merchandise east and west has been 1,425,629 tons, doned by lessees (themselves in a chronic state of bankruptcy) in 1877.
whilst in the preceding year it was 1,149,499 tons. For 1877 this traffic Bince
September 10, 1877, the Vermont division (as above) operated by
was 1,047,645 tons; for 1876, 1,093,393 tons; for 1875, 872,101 tons;
there-organized Bennington & Rutland. Stock $1,000,000 (par $100),
for 1874, 752,256 tons ; for 1873, 640,265 tons; for 1872, 557,609 tons; and bonds
$500,000; total, representing cost of road ($25,425 per mile),
and for 1871, 435,207 tons. 743,381 barrels of flour and 29,622,895 $1,500,000. Interest
liability, $35,000 a year.
bushels of grain were brought to Baltimore during the fiscal year, being
Berkshire.—Connecticut State Line to West Stockbridge, Mass., 22
a decrease of 34,830 barrels and an increase of
8,983,241 bushels, miles. Chartered in
1837, and road opened in 1842. Leased in per¬
respectively. Of this aggregate of grain, 18,467,498 bushels were
wheat. The receipts of wheat for the preceding year by the Baltimore petuity to Housatonie Railroad Company at 7 per cent on capital stock
and cost of road ($27,273 per mile), $600,000. Lessors pay taxes, <fec.,
& Ohio Railroad were 9,365,233 bushels, showing an increase of
which reduced the dividends to about 6 per cent, and the quarterly divi¬
9,102,265 bushels, and an increase over 1877 at 15,906,898 bushels. dend due in
October is omitted. Used as the Housatonic’s main line in
For 1877 the receipts of wTheat were 2,500,600 bushels, and for 1876,
Massachusetts.
620,300 bushels. The receipts of corn for 1875 by the Baltimore &
Boston d Albany.—Boston, Mass., to Albany, N. Y., 202 miles, and
Ohio Railroad were 5,591,633 bushels; for 1876,15,948,107 bushels;
for 1877,13,290,714 bushels; for 1878, 10,164,285 bushels; and for numerous branches, 48 miles, or a total of 250miles; leased lines, 74
1S79,10,065,530 bushels, showing a decrease of 98,755 bushels com¬ miles, or a total operative length of 324 miles. Formed (December,
pared with the preceding year. The passenger earnings exhibit a 1867) by the consolidation of the Boston & Worcester and the Western
decrease from $1,200,846 in the preceding year to $1,171,033. Large railroads. Main line (all steel) double track. The most important trunk
reductions were made in the tariffs for local travel in Maryland and line in New* England. An abstract of the last annual report wras pub¬
West Virginia on
FebrurUry 15, 1879. The coal trade of the Main Stem lished in the Chronicle, V. 29, p. 488. Results of operations for five
shows an aggregate of 1,596,004 tons, wiiich includes 382,792 tons for years:
the company’s supply, being an increase of 112,928 tons over the pre¬
y
Gross
Net
Div.
Passenger Freight (ton)
ceding year. Results of operating “ main stem and branches ” tor seven Years. Miles.
Mileage.
Receipts.
Mileage.
Receipts.* p. ct.
318
119,720,916 282,309,789 $7,869,954 $2,498,051 10
years:
322 110,644,410 301,624,988
Years.
Gross Earnings.
7,074,758
Operating Expenses. Net Earnings.
2,391,764
9
322 103,278,126 313,822,671
6,780,597
$12,252,844
2,167,831
8
$7,318,048=59*72 p. c.
$4,934,796
322 101,221,955 829,708,573
6,675,895=57*80 “
6,633,534
11,693,955
2,219,536
8
5,018,060
324 101,248.321 325,484,799
6,427,463
10,514,179
6,178,801=58*74 “
4,337,378
2,703,638
8
*
Net receipts include income from rents, &c.
9,632,361
5,411,635=56*18 “
4,220,726
8,262,045
4,605,151=55*73 “
3,656,893 Stock increased from $19,664,100 to $20,000,000 in seven years, and
4,524,344=52*83 “
8,563,956
4,039,611 bonds from $3,037,000 to $7,000,000. Cost of road, &e., October 1,
8,864,826
4,523,581 = 51*02
4,341,245 1872, $24,301,752, and September 30, 1879, $27,514,116. In the
Dividends for 5 years, 1872-77, 10 per cent;-for 1877-78^7*2 per cent;
meantime, upwards of $1,300,000 have been taken from surplus fund
and for 1878-79, 8 per cent. The three dividends from May, 1878, to and
till
applied to depreciation account. (V. 29, p. 328, 488.)
May, 1879, inclusive, were paid in stock. Results of operating all lines
Boston Barre d Gardner.—Worcester to Winchendon, Mass., 37 miles,
owned and controlled for the seven years 1872-79:
and lessees of Monadnock Railroad, Winchendon, Mass., to Peterboro’,
Years.
Gross Earnings.
Net Earnings. N.
Operating Expenses.
H., 16
1872-73. ...I... $15,693,198
$10,141,623=64*62 p. c*.
$5,551,575 and road miles; total operative length, 53 miles. Chartered in 1847,
completed in 1874. Leased Monadnock Railroad for 99 years
14,947,090
9,461,651 = 63*30 “
5,485,489 from
October 1,1874. Interest has been reduced to 5 per cent. Interest
9,908,665=68*59 “
14,444,239
4,535,574
15,031,236
9,609,857=63*94 “
5,421,379 liability at 7 per cent, $38,801, or at 5 per cent, $27,715. (V. 29, p. 40,406.)
Boston Clinton Fitchburg d New Bedford—Fitchburg, Mass., to New
13,208,860
8,226,055=62*28 “
4,982,805
13,765,279
7,769,301=56*44 “
5,995,978 Bedford, Mass., 91 miles, w ith brandies (34 miles), in all 125 miles.
14,193,980
7,691,595=54*18 “
6,502,385 The Framingham <fc Lowell Railroad, 26 miles, is also leased. Consoli¬
The Baltimore & Ohio direct bonds of 1879 on Parkersburg Branch are dation (June 1, 1876) of the B. C. & F. and the N. B. railroads, both of
secured by deposit of mortgage on that road. (V. 28, p. 223, 276, 378;
which had been consolidations of other original lines. The Framing¬
V. 29, p. 145, 225, 250, 328, 510, 535.)
ham & Lowell is leased for 998 years and 4 months from October, 1879.
Baltimore d Potomac— Baltimore, Md., to Washington, D. C., 41 miles, The w hole property was leased (Feb. 1, 1879) to the Old Colony Railroad
Co. for 999 years, the lessees agreeing to pay as rental 10% per cent of
and from Bowie to Pope’s Creek, 49; total, 90 miles.
Chartered in
1853; road opened to Washington in 1872 and to Pope’s Creek in 1873. the gross earnings of the consolidated roads; but in no case is rental to
Baltimore Tunnel opened in summer of 1873. The road is controlled by be less than 6 per cent on debt. The old 8 per cent equipment notes
the Pennsylvania Railroad Co., and first mortgage bonds guaranteed by were converted (Feb. 14, 1878) into a preferred stock, and its 8 per
Pennsylvania Railroad & Northern Central Railroad Companies; second cent bonds into 6 per cent bonds. The rental for the year ending Feb. 1,
mortgage bonds are dependent on earnings. Capital stock, $3,553,250, 1880, was $355,951, which left, after paying all charges, a surplus of
funded debt, $6,500,000, and other liabilities and accounts, $132,002; $90,375. Out of this was paid a dividend of 2 per cent on the preferred
total, Dec. 31, 1879, $10,185,252.
Road and equipment, $9,099,295. stock, October, 1879, and 2*s declared payable April, 1880, leaving a
Materials and cash assets, $93,238; profit and loss, $992,718. Gross surplus of $11,620. (V. 27, p. 537; V. 28, p. 40, 120; V. 30, p. 221.)
Boston Concord d Montreal.—Concord, N. H., to Wells River, Vt., 94
learnings in 1879, $699,772; expenses, $526,201; profits, $173,570.
Interest, $272,317. Deficiency, or guarantors’ loss, $98,746. Income miles, and branches 73; total, 167 miles. Chartered in 1844 and road
bonds wholly held by Pennsylvania Railroad Co. (V. 28, p. 598.)
opened in 1853.
Purchased White Mountain Railroad (53 miles) in
Belleville d Southern Illinois.—Belleville, III., to Duquoin, Ill., 56 1872, and built the Mt. Washington Branch (20 miles) in 1874. An4
miles. Chartered February 15, 1857; opened December 15, 1873, and extension of the White Mountain Railroad from Groveton Junction to
leased, during construction, October 1, 1866, to St. Louis Alton & Terre Colebrook and into Canada is mortgaged. Fiscal year ends March 31.
Haute Railroad Co. Lease rental 40 per cent of gross earnings up to
Gross
Expenses,
Available
Years.
Miles.
Earnings.
$7,000 per mile; 30 per cent above $7,000 and up to $14,000 per mile,
Taxes, &c.
Revenue.
and 20 per cent on any excess of $14,000 per mile. Rental for 1878,
160
$564,194
$523,986
$140,208
160
511,343
693,355
182,012
$98,351. Bonds guaranteed by lessees. Common stock, $430,000; pre¬
ferred 8 per cent stock, $1,250,000, and first mortgage 8 per cent sinking
167
649,308
457,377
181,931
fund bonds, $1,068,000; total ($48,759 per mile), $2,750,000. Operated
167
453,172
654,272
201,100
in connection with the Belleville Branch of St. Louis Alton & Terre
167
388,932
590,550
201,618
Haute Railroad, and extended from Duquoin to El Dorado, 50 miles, by The old preferred stock ($800,000) has always received 3 per cent
the Belleville & El Dorado Railroad Co.; extension opened Oct. 31,1879. semi-annually, amounting to $48,000 a year. Neither the new preferred
Belvidere Delaware.—Trenton, N. J., to Manunka Chunk, N. J., 69 nor the common stock has been paid dividends. A proposal has been
miles. Chartered March 2, 1853, and opened Nov. 3, 1865. Leased to made to scale down the two latter stocks and make them equal to the
Stock account, $1,800,000; funded debt, $2,527,200;
United Companies, and transferred to Pennsylvania Railroad March 7, old preferred.
1876, by which operated as their Belvidere Division. Rental, all surplus dividends and interest payable, $12,907, and income balance, $582,485;
earnings, but the first, second and third bonds are guaranteed. Gross total, $4,922,592. Per contra: Construction—Main line, $2,850,000,
earnings 1878 ($9,284 per mile), $639,034; operating expenses (76*09 per and branches, $1,469,000; sinking fund, $201,500; other assets, $179,oent), $486,279; and net earnings ($2,219 per mile), $152,755. Capital 405; and cash and accounts, $222,687* Total property and assets,
stock, $994,050; funded debt, $3,444,500, and floating debt, $157,524; $4,922,592. There are also $76,000 old bonds due In 1865, and
total, $4,596,074. Cost of road and equipment ($61,700 per mile), $350,000 due in 1875. (V. 28, p. 5770
$4,246,638. Operates Flemington Railroad.
Boston Hoosac Tunnel d Western.—Projected line: Hoosac Tunnel,
Bennington <6 Rutland.—Rutland to Bennington, Vt., 54 miles, and Mass., to Fairhaven, N. Y., 200 miles. In operation from Mechanicville,
branch to New York line, 5 miles; total, 59 miles. Chartered as Western N. Y. (Rensselaer & Saratoga Railroad), to North Adams, Mass. (Troy &
Vermont in 1845, and completed in 1854. Leased in 1857 to Troy & Greenfield), about 46 miles. It has been built as a connecting line with
Boston for 10 years at $36,000 per annum. Consolidated in Harlem New England, via the Hoosac Tunnel, for the Erie Railway anl other
extension in 1870, and leased to Central Vermont in 1873. Lease aban¬ roads. w. L. Burt, President, Boston, Mass. (V. 30, p. 191.)




.

„

,

.

STOCKS AND

RAILROAD

18

Subscribers will confer a great favor

of column headings, &c., see notes
on first page of tables.

For explanation

11887755--6969.™

[Vol. XXX.

by giving Immediate notice of any error

discovered in these Tables.
Bonds—Princi

INTEREST OR DIVIDENDS.

DESCRIPTION.

Miles Date Size, or
of
Par
of
Road. Bonds Value.

•

•

@

»

@

•

c

^

•

m

m

.

1872
1875
1876
1879

...

58
64

branches, coupon or registered
Brooklyn Elevated— 1st mort., gold (for $3,500,000)
Brooklyn d Mon tank—Stock
Southern of Long Island, 1st mortgage (S. Side)..
Buff.Brad.de Pitts— Gen. M.,(incl. 10,000 ac. I’d)....
Buffalo Chatauqua Lake d Pittsburg—Stock
Buffalo New York d Erie—Stock

^ w

.

1873-4
1875

1,000

....

1873
1879

1,000

*57

1867

500 &c.

Bonds to purchase

675918-79781
New mortgage

Buffalo N. I. d Philadelphia—1st mort., gold
mortgage

Buffalo d Southwestern—Bonds
Burlington 0. Rapids d Northern—Stock, guar
1st mortgage
Iowa City & Western,

1st mortgage, gold, guar..
Burlington d Missouri in Nebraska—Stock
Bonds, convertible till Jan., 1882
Consol.mort.for $14,000,000, s. f. $30,000
Omaha & 8. W., 1st mortgage, guar

Republican Valley Railroad, stock, guar

Nebraska RR., consol, mort., guar
Burl, d Southwest .—1st mort., main line, cp. or reg.
Cairo d St. Louis—1st mortgage
Cairo d Vincennes—1st mortgage, gold

26
44
142
140
121
121
67

367
57

_

1,000

r...

100

1876
1871
1878

133
90
144

156

500 &c.
500 <fec.

1876
1879

M.
J.
F.
M.
J.
M.

&
&
&
&
&
&

N.

Boston, at Office.

J.

do
do
New York.

M. & S. N. Y.,
J. & J. New York,

N. Y., Erie
J. & D.
do
J. & D.
J. & J. N. Y., Farm.

1,000

7 g. 1

1,836,000

i,6oo

1, 1880
April 1, 1892
March 1,1895
July 1, 1896
1899

A.
N.
J.
S.

1879
Jan., 1893&94
Aug. 1, 1895
Nov. 1, 1879
July 1, 1893
Sept. 1, 191,7
Nov. 15,

Boston, at Office.
do
do
New York.

Nat. B’k Mar. 1, 1887
Erie Office. Jan. 1, 1896
Dec.

Railway.

L. & T. Co.
Q.—M. Buffalo, F.& M. Nat. Bk.

1916
July 1, 1896

do

J. & J.
J. & J.
J. & D.

July 1, 1918

Boston, Co’s Office.

May 1, 1895
Oct. 2, 1901

& O.

June I, 1896
Feb. 2. 1880
Oct. 1, 1893

& 0. New York and London.

Oct., 1909

solidation with the Pittsburg Titusville & Buffalo has been
—(V. 30, p. 17, 67, 193.)

1878, they have been under separate managements.

and funded debt,

Gross

Years.

Dividends

were

Payments
.
Rentals.
Div.,p.c.
$111,767
93,309
2 94,718
67,598
3

Net

/

Earnings.
Earnings.
$357,084
$1,169,114
391,962
1,181,724
319,528
1,081,066
392,580
1,198,962
8 per cent up to close of 1873; 6^ per cent in

1873-74-

—(V. 28, p. 624; V. 30, p. 42.)
Boston d Maine—Boston, Mass., to Portland, Me., 115, and branch
lines, 11; total owned, 126 miles; lines operated under lease, 80 miles;
total operated road, 206 miles. Main line one-third double track and all
steel rail. Chartered in 1839, and road completed to South Berwick in
1845 and to Portland in 1873. From 1843 to 1873 the Portland Saco &
Portsmouth Railroad was leased in partnership with the Eastern Rail¬
road.
In February, 1880, there was talk of consolidating with the
Eastern (Mass.) Railroad.
Outside Av’il’ble Div.
Net
Gross
Expenses
& Taxes.
Years.
Earnings.
Earnings. Receipts. Revenue, p.c.
$2,278,457 $1,523,966 $754,162 $92,162 $844,653
748,165
93,817
654,348
1,578,854
2,173,202
825,091
83,717
741,317
1,359,367
2 100,741
884,066
88,964
2,149,857
1,354,755
795,102
—(V. 29, p. 535; V. 30, p. 15.)
Boston d New York Air-Line.—Cedar Hill Junction, New Haven, to
Willimantic, Ct., 50 miles. Lessees of Colchester Railroad, 4 miles. Char¬
tered as New York & Boston in 1846, as New Haven Middletown & Willimantie in 1867, and under existing title in 1875. Road opened Aug.
13, 1873. The present company derive their rights from purchase under
foreclosure. The Colchester branch was opened Aug. 1, 1877, and rents
for $7,800. In 1879 a pooling agreement (for 99 years and 8 months
from Feb. 1,1879) was made with the N. Y. New Haven & Hartford Rail¬
road, under which the B. & N. Y. A.-L. receives 6 per cent of the gross
earnings of all lines operated, out of which its operating expenses are

paid.

Common stock, $671,700; preferred stock, $2,246,500, originally
Willimantic Railroad Co. (V. 28,

bonds of New Haven Middletown &
p. 173, 352, 428, 5T7 ; V. 29, p. 621;

V. 30, p. 66.)

Boston d Providence—Boston, Mass., to Providence, R. I., 44 miles,
and branches, 20 miles; total owned (all steel) 64 miles. Leased Attle¬
boro branch, 4 miles. Total operative line, 68 miles. Chartered in 1831,
and road opened in 1835. The company have valuable depot properties
in Boston, and during 1879 negotiations were entertained for a consoli¬
dation of the Boston & Providence and the Boston & Albany, so us to
utilize them by both companies,
Divi¬
Other
Net Traffic
Gross
dends.
Receipts.
Years.
Earnings.
Earnings.
8
$27,895
1875-76......
$399,633
$1,439,864
6
20,797
378,032
1,352,564
6
21,377
348,069
1,185,040
Lease rental

19,595
1,158,643
375,947
paid in the years consecutively was $9,219, $9,219,

6*2

$11,308,

1. 1883

do
do
do
Boston.

Q.-F.

& N.
& O.

Sept. 1, 1909
2, 1880

Feb.
Jan.

Boston, Office.

Q.—F.

A.
M.
A.
A.

June 1. 1906

New York.
do

J. & D.
M. & S.

Boston d Lowell.—Boston to Lowell (double and steel), 27 miles, and
Salem to Lowell, 30 miles; sundry branches, 19; total owned, 76 miles;
and Middlesex Central RR. (leased), 11 miles; total operative length,
87 miles. Chartered in 1830, and line between Boston & Lowell opened
in 1835. Second track laid in 1841. The Lowell & Lawrence and Salem
& Lowell Railroads, operated for some years under lease, were
and consolidated in 1879. A joint business was formerly done between
the Boston & Lowell and the Nashua & Lowell, but from December,

purchased

1, 1879

June 1,

do

*

853,000

1,000
1,000

J.

Jan.

do
do
do

Gallatin

5
7 g.
2
8
6
8
2
7
8
7

1,034,000
*

do
do
do

..........

3,500,000

100
500 &c.
600 &c.

1877
1870
1871
1871

Boston, at Office.

Is-

456,000
9,390,800
600,000
7,605,000

1,000

1872

J.
O.
S.

1,800,000
2,500,000

100 &G.

1873
1878

&
&
&
&

7
6 g.

1,099,706
5,500,000
6,500,000

ioo

.

191
49

1,000

Stocks—Last
Dividend.

Whom.

J.
A.
M.
J.

-

pal,When Due.

Payable, and by

7
7

500,000
4,000,000
500,000
<0
(?)
750,000
580,000
500,000
950,000
2,380,000
3,000,000
1,000,000

100

Where

7
3*2
7
6 g.

620,000
6,921,274
3,500,000

•

When

Payable

1
7
7
6
5
3
7

750,000

^

.

Rate per
Cent.

$3,250,000
999,500
500,000

....

100
500 &c.

204

Bonds, coupon and registered
Boston d New York A ir-Line—1st mortgage
Boston d Providence—Stock

Amount

Outstanding

$500

82

Boston d Lowell—Stock
Bonds
Bonds
Bonds
Bonds
Boston d Maine—Stock

2d

BONDS

adopted.

Buffalo Neio York d Erie— Buffalo, N. Y., to Corning, N. Y„ 140

miles.

A third rail for standard gauge rolling stock has been laid down. Leased
in 1863 to the New York & Erie for 490 years, and now operated by the
New York Lake Erie & Western Company. Rental, $240,100—viz., 6
per cent on stock and bonds and $8,000 for organization expense. Divi¬
dends and interest paid directly by the lessees. Capital stock, $950,000,

$2,380,000. Total, representing cost of road, $3,330,000.

Buffalo New York d Philadelphia.—Buffalo, N. Y., to Emporium, Pa.,
Consolidation (1871) of the Buffalo & Allegheny Valley
and the Buffalo & Washington, and road completed in 1872. At Em¬
porium connects with Philadelphia & Erie. Gross earnings in 1879,
$954,682, and net earnings, $380,355. Capital stock, $1,971,450. Cost
of road and equipment, $6,587,854. (V. 28, p. 252; V. 30,p. 16.)
Buffalo d Southwestern.—Buffalo, N. Y., to Jamestowu,N. Y., 67 miles.
Organized as Buffalo & Jamestown in 1872, and road completed in 1875.
Sold under foreclosure in 1877, and reorganized under existing title.
Gross earnings in 1877-78, $221,650; operating expenses, $171,652 ; net
121 miles.

earnings, $49,998.
ment, $2,857,472.

Capital stock, $943,800. Cost of road add equip¬

Burlington Cedar Rapids d Northern.—Burlington, Iowa, to Albert

Lea, Minn, (including 11 miles leased). 252 miles, and branches 183, or
a total of 435 miles.
Steel rail, 113 miles. Organized as the Burlington
Cedar Rapids & Minnesota

June 30, 1868, and main line opened to*

Plymouth 219 miles, and branches 149 miles, to end of September, 1873Default November 1, 1873. Property sold under foreclosure June 22,

1876, and given up to the purchasers July 1,1876. In 1879 the whole
property was transferred to the Chicago Rock Island & Pacific Rail¬
road Company, under a perpetual lease, the lessees agreeing to pay
interest on bonds and dividends on stock, at the rate of 3 per cent
yearly for five years, and of 5 per cent yearly thereafter; this lease
not
ratified by the stockholders in February, 1880.
was
Gross
earnings (year ending June 30, 1879), $1,387,962, and net earnings,.

Interest liability, $335,513, all paid. Disbursements also
purchase of the Chicago Clinton & Western Railroad property
for $162,799. Since the close or 1879 the company have guaranteed.
$456,000 of bonds issued for the construction of the Iowa City & West¬
ern Railway.
They also guarantee $150,000 of Minneapolis & St. Louis
bonds. (V. 29, p. 224, 250, 432, 562; V. 30, p. 17, 221.)
Burlington d Missouri River in Nebraska.—Plattsmouth to Kearney
Junction (owned), 191 miles; leased: Omaha & Southwestern Railroad,
47; Nebraska Railway, 163, and Republican Valley Railroad, 69; total
leased lines, 279 miles; total operative lines, 470 miles; average length
operated iu 1879, 442 miles.
$437,304.

include the

Gross

Aver.

Miles.
240
240
1 354
376

Years.

;

1878

442

Earnings.

'

Net
Div. on
Earnings, stock.

$723,843

$300,057

476,222
754,241
1,172,484
4
4
1,335,055
cent declared Dec, 24,1879.

903,618
1,366,435
1,909,518
2,160,926

And there was an extra dividend of 2% per
The Land Department makes the following

statement Dec. 31. 1879 :
2,385 sales of 369,431 acres, for $1,587,511

Total

Average per acre of t tal sales, $1 30.
Lands on hand—South Platte, 283,532 acres; North Platte, 508,499;
due from United States. 8,337. The company has been consolidated
(March, 188') with the

Chicago Burlington & Quincy, share for share,

$10,956 and $10,917. (V. 27, p. 565.)
Brooklyn Elevated— In progress. Capital stock authorized, $5,000,
000, and 6 per cent gold bonds, $3,500,000. (V. 29, p. 328 )
Brooklyn d Montauk—(Southern of L. I.)—Bushwick to Patehogue, L.I.,
52 miles; branches to Fresh Pond Junction, 2 miles; to Rockaway, 10
miles; Ito Hempstead, 5 miles; total operated, 69 milesv This was first
the South Side Railroad of Long Island, which was foreclosed Sept. 16,
1874, and reorganized as the Southern of Long Island. On May 1,1876, it
was leased to the Long Island Railroad.
On June 3,1879, the property
was again sold in foreclosure of the second mortgage, and subject to the
above mortgage, and the company has been reorganized. It is leased to
the Long Island Railroad for 50 years at 25 per cent of the net earn¬
ings of L. I. RR. and its leased lines. (V. 28, p. 580; V. 29, p. 19, 96,
632; V. 30, p. 322.)
Buffalo Bradford d Pittsburg.—Carrollton, N. Y, to Gilesville, Pa., 26
miles. Completed in 1866, and leased to New York Lake Erie & Western
for 499 years. In January, 1875, it was consolidated with other roads

with a 20 per cent stock dividend. The consolidated 6 per cent bonds
are issued in place of 8 per cents due in 1894.
(V. 28, p. 120, 276, 624;
V. 30, p. 90, 116.)

Buffalo Chatauqua Lake d Pittsburg.—Line of road, Brocton, N. Y., to
Corry, Pa., 44 miles. Organized as the Buffalo & Oil Creek Cross-Cut,
and changed to Buffalo Corry & Pittsburg October 15, 1867. Sold'in
foreclosure January 1, 1873, and reorganized under present name.
Gross earnings, 1878, $117,210; net earnings, $26,099. A plan of con¬

bought in for account of bondholders for $2,000,000, subject to receiv¬
ers’ certificates and claims for labor, &c. The capital stock was $2,624,300. The reorganization is altogether in the hands of Messrs. Drexel,
Morgan & Co., and no plan of settlement has been announced. (V. 29
p. 40; V. 30,p. 43.)
/

under the title of Pennsylvania & Erie Coal <fc Railway Company. No
further action, however, has been taken to carry out the project. Rental,
7 per cent on outstanding bonds, $40,600 a year. Capital stock, $2,286,000. In March, 1880, a dividend of 1 per cent was paid.




i

Burlington d Southwestern— Total operated length, Burlington, Iowa,
Laclede, Mo., 181 miles, of which 39 miles are leased on joint-use con¬
tracts. There is also a mortgage of $1,600,000 7 percent gold bonds,
due 1892, on the Linneus branch, 53 miles, and a second mortgage of
$88,000 8 per cents on the main line. Gross earnings, 1878-79, $206,704;
expenses and taxes, $199,187; net earnings, $7,517. Capital stock,
$1,793,700; funded debt, $3,488,000; receiver’s 7 per cent certiflcatea
(for extension 22 miles in Missouri), $200,000, and a large amount of
to

floating debt.

Default made Nov. 1, 1873, and property

still in hands of

receiver, awaiting final decree of foreclosure. (V. 29, p. 300.)
Cairo d St. Louis.—Cairo, HI., to East Carondelet, Ill. (3 ft. gauge),
miles. Opened through, March 1, 1875. Default made April
and receiver appointed Dec. 6,1877. Deficit in 1878, $9,914.

147
1, 1874,
Capital

stock, $4,565,000.
Large amounts of county and town subscriptions
unpaid and in suit. (V. 28, p. 451; V. 29, p. 17, 40.)
Cairo d Vincennes.—Cairo, Ill., to Vincennes, Ind., 157 miles. Char
tered March 6, 1867, and completed Dec. 16,1872. Defaulted in 1873*
Placed in hands of two receivers May 16,1874. Sold Jan. 5,1880, and
remain

April, 1880. J

RAILROAD

Subscribers will confer a great favor
DESCRIPTION.
For

781

California Pacific—1st mortgage, gold
2d mortgage, endorsed by Central Pacific
3d mort., guar, by C. P. ($1,000,000 are 3 p. c.) .
Camden dk Allantic—Stock ($838,150 of it pref.)—
1st mortgage (extended 20 years in 1873)
Camden & Burlington Co.—1st mortgage
Canada Southern—Stock
New mort., interest guar., (for $14,000,000)
Carolina Central—1st mortgage, gold, coupon

bonds,

coupon

Catawissa—Common stock
New

preferred stock
preferred stock
1st mortgage bonds
Chattel mortgage bonds

65

Cayuqa <£ Susquehanna—Stock

mortgage

mortgage

Central K. K. dk Bank, Ga.—Stock
General mort. “tripartite” bds ($5,000,000) coup.
Macon & Western bonds
Central Iowa—1st M., gold, (income only till ’81)...
Income

bonds, “debt certificates”

Mortgage bonds

1869
1871
1875
....

BONDS

19

INTEREST OR DIVIDENDS.
or

Par
Value.

500
50

1878
1873
1874

1,000
1,000
1,000

....

100
35
14
61

1872

1,000

50
50
50

1,000
1,000
1,000

70
58

1861
1863

146
708
620

1866

500 <fcc.

274
....

....

189
....

359
74

....

....

....

1872
1870
1869
1880
....

1869

100

1,000
....

500 &c.
500 &c.
100

1,000

Where

Payable, and by

7 g. J. & J. N. Y., Nat’l Park Bank.
do
do
6 g. J. & J.
1,600,000
3 & 6
J. & J.
New York.
3,000,000
Camden, Co.’s Office.
1,215,550 3*2 in pf.
7 g. J. & J. Phila., Farm. & M. B’k.
490,000
6
F. & A. Phila. and Mt. Holly.
350,000
15,000,000
3
J. & J. N. Y., Union Trust Co.
13,497,311
6 g. J. & J. N. Y. Office, 4 Broad st.
3,000,000
do
do
A. & 0.
7
3,000,000
1,159,500
M. & N.
3*2
1,000,000
Philadelphia.
M. & N.
do
3*2
2,200,000
F. & A.
do
7
230,500
F. & A.
209,850
Philadelphia.
do
F. & A.
7
1,300,000
4*2 J. & J. New York, 44 South st.
589,110
A. & O. N.Y.,J. 8. Kennedy <fc Co
7
198,000
do
7
J. & J.
do
1,334,000
1
6,850,400
Boston, Treasurer.
Q.-F.
do
do
3*2 F. & A.
769,600
F. & A. N. Y., Nat’l Park Bank.
7
700,000
do
F. & A.
do
7
582,000
do
do
7
M. & N.
2,332,000
J. & D.
2*2
Savannah, Ga.
7,500,000
7
J. & J. New York & Savannah.
3,500,000
A. & 0.
7
Macon, Ga.
117,000
New York, Office.
7 g. J. & J.
3,700,000

620,000

18,563,200
5,000,000

7

2*2
7

A. & O.

Q.-J.
F. & A.

Bonds—Princi¬

pal,When Due.
Stocks—Last
Dividend.

Whom.

Payable

....

100
500 <fcc.
500 &c.
100
100
500 &c.
500 &c.

....

1864
1866

When

....

500 &c.

.....

Rate per
Cent.

$2,250,000

$1,000
1,000

....

Amount

Outstanding

1853
1867

....

Cellar Falls dk Minn.—Bonds on 1st div., sink. fund.
Bonds on 2d division, sinking fund
Cedar Rapids & Missouri—Common stock
Preferred stock, 7 per cent
1st mortgage

Central of New Jersey—Stock

139
139
139
67
60
31
100
291
242
242
92

Size,

....

New mortgage.

1st
1st

Date
of
of
Road. Bonds

ioo

Old

AND

by giving immediate notice of any error discovered in tbese Tables*

Miles

explanation of column headings, &e., see notes
on first page of tables.

Income

STOCKS

do

do

New York, at office.
do
do

Jan. 1, 1889
1891

July, 1905

April 19,1880
ian., 1893
1897
Jan.

i,

1908

July 1, 1923

April 1, 1914
May 1, 1880

May 1, 1880
1, 1882

Feb.

1888 to ’89
Feb. 1, 1900
Jan. 1, 1880

April 30,1884
Jan. 2, 1907
May 1, 1880
Feb. 1, 1880
Aug. 1, 1891
Aug. 1, 1894

May. 1916
Deo. 20, 1879
Jan. 1, 1893

Oct., 1.880
July 15.1899
3

mos.

notice.

April 10,1870
1890

.

California Pacific.—South Vallejo, Cal., to Sacramento, Cal., 60 miles,

with branches to

total, 113 miles.

Calistoga, 34 miles, and to Kaight’s Landing, 19 miles;

Consolidation (Dec. 23,1869) of California Pacific and

C. P. Extension companies. These lines were built by a construction
company, and turned over to the existing company January 19,1870.
Leased for 29 years, from July 1, 1876, to Central Pacific. Minimum
rental (coin), $550,000 per annum, and in addition three-fourths of net
earnings in excess of that amount. General account (Jan. 1,1879)—

Capital stock, $12,000,000; funded debt, $6,850,000; bills payable,
#1,219,577; and other liabilities, accounts, &c., $286,113; total liabili¬
ties, $20,355,690. Property account ($171,034 per mile), $19,326,837;

Catawissa.—Tamanend, Pa., to Williamsport, Pa., 93 miles, and a
miles; total, 97 miles. Chartered as
in 1831; name changed to Catawissa
Williamsport & Erie in 1849. Road opened Dec. 18, 1854. Reorganized
under present name in 1859. Leased from Nov. 1,1872, for 999 years
to Philadelphia & Reading. Rental, 30 per cent of gross earnings and
$8,000 a year for company expenses. Funded debt is also assumed by
lessees. Seven per cent is guaranteed on the preferred stocks; common
stock has the remainder, if any.
branch to Silver Creek mines, 4
Little Schuylkill & Susquehanna

Cayuga <k Susquehanna.—Owego, N. Y., to Cayuga Lake, N. Y., 35

$390,890, and profit and loss, $637,963; total property miles. Chartered as Ithaca & Owego in 1828 and opened in 1834. Re¬
and assets, $20,355,690. Extension bonds of $3,500,000 and incomes of organized as Cayuga & Susquehanna in April, 1873. Leased in per¬
$1,000,000 were in default, and the new bonds of 1875, guaranteed by petuity to Delaware Lackawanna & Western, Jan. 1,1855, at a rental of
accounts current,

Central Pacific, were issued in place thereof.
Interest charges were
thus largely reduced by exchange of old bonds for the present
lower-rate bonds.
Third mortgage (1875) bonds are guaranteed by

a year. Dividends on capital, 9 per cent per annum. Capital
stock (cost of road to present owners), $589,110. A considerable deficit
to the lessees occurs from year to year.

$54,600

the lessees.
Camden <6 Atlantic.—Camden, N. J., to Atlantic City, N. J., 60 miles,
and branch to May’s Landing, 7 miles; total, 67 miles. Earnings and
expenses for three years past nave been—
Years.
Earnings.
Expenses.
Profit.
Div’ds,p.c.
1877....
$172,042
24-31
$477,483
$300,449
1878
,399,061
277,848
121,213

The preferred stock is entitled to 7 per cent
rate as paid to common stock if more than 7.

if earned, and to

as

high

a

Cedar Falls dk Minnesota.—Waterloo, la., to Minnesota State line, 76
miles. Completed in 1870. Leased to Dubuque & Sioux City for 40
years from Jan. 1,1867, at $1,500 per mile as a minimum ana a con¬
tingent of 35 per cent of gross earnings from $3,500 to $7,500 per mile
ana of 30 per cent of any excess over $7,500 per mile.
Lease transferred
to Illinois Central, October 1, 1867.
Capital stock, $1,587,000, and
funded debt, $1,587,000. Total (cost of road), $3,174,000. A sinking
fund of 1 per cent per annum is provided. (V. 30, p. 90.)
Cedar Rapids & Missouri River.—Cedar Rapids, la., to Council Bluflfe,
la., 272 miles, and Clinton Branch, 3 miles; total, 275 miles. Chartered
in 1855 and

County.—Camden, N. J., to Pemberton, N. J., 23
miles, and branch to Mt. Holly, 7 miles; total, 30 miles. Leased to
Camden & Amboy Railroad Co., and now operated by the Pennsyl¬
vania Railroad Company, lessees of United Railroad &, Canal Com¬
pany’s lines. Lease rental, $44,415, being 6 per cent on stock and
bonds, and $500 for organization expenses. Capital stock, $381,925,
and funded debt $350,000; total, being cost of property, $731,925.
Dividends, January and July.
Camden dk Burlington

Canada Southern.—Victoria, Ont., to Amherstburg, Ont., 229Smiles;
and 8t. Clair Branch, 62Hi miles; total (original line, all steel), 292 miles»
and miles absorbed on reorganization—Erie <fc Niagara, 28 Hi; Sarnia
Chatham & Erie, 7; Canada Southern Bridge & Ferry, 3; Toledo Canada
Southern & Detroit, 55, and Michigan Midland & Canada, 15; total of

completed in 1866.

Leased to and operated by Chicago A

Northwestern. Rental, $700 of the first $1,500 of gross earnings per
mile; 33*3 per cent of next $3,000 per mile, and 20 percent of any
excess over $4,500 per mile.
Capital stock—Common, $6,850,400, and
per cent, $769,600; and funded debt, $3,614,000.
Total
stock and debt $11,234,000. Quarterly dividends, each of 1 percent,
have been paid for several years on common stock, and semi-annual
dividends, each of 3 Hi per cent, on preferred stock.

preferred 7

Central

of Georgia (rf Bank).—Savannah, Ga., to Atlanta, Ga., 294*3

miles, and leased lines and branches, 419; total, 713*3 miles. Consoli¬
dation (December 1,1872) of the Central and the Macon <fc Western.
The principal leased line is the Southwestern and branches (310Hi miles).
The company owns large interest in connecting lines and in the Ocean

miles. Besides these the Chicago Steamship Lme of Savannah.
Traffic Earnings.
-Payments from Net Eamings-x
.
operated up to November 1,1879.
Leases.
Interest.
DiviaMs.
Gross.
Net.
The average operative length of road for 1879 was therefore 456 miles. Years.
3-2781
The Canada Southern was chartered February 28, 1868, and the whole
$3,437,420 $1,155,262 $397,908 $L49,187 $675,000
-3781
179,492
419,531
300,000
2,064,629
557,153
road opened in November, 1873. Default was made soon after, and a
-4781
252,129
588,698
2,886,537
1,199,832
reorganization forming the existing companies was completed in 1878.
-5781
493,586
285,444
2,601,542
983,541
Interest on the new bonds issued by the company is guaranteed by the
-6 Company for 20 years; the principal is not
255,412
439,596
826,925
2,409,092
New York Central Railroad 781
- During the year 1879 great 81
279,178
439,631
187,178
2,675,318
1,093,967
guaranteed. 77improvements were made on
272,428
439,652
2,824,547
1,208,245
the lines a new ferry-boat purchased, and 31 engines and 1,100 freight 1878-9.
cars added to the equipment.
This company and the Georgia Railroad Company are joint owners of
1879#
Increase
1870
the Western Railroad of Alabama, purchased at foreclosure sale in
Gross earnings
$2,995,366
$514,493 April, 1875. The “tri-partite” bonds are issued jointly by this company,
$2,480,873
Expenses
2,070,258
2,448,091
377,833 the Macon & Western and the Southwestern. (V. 27, p. 381; V. 29, p.
655; V. 30, p. 143.)
Net earnings
$410,615
$547,275
$136,660
Interest accrued
353,428
391,452
38,024
Central Iowa.—Albia, la., to Northwood, la., 189 miles, and coal
branch, 2 miles; total, 191 miles. Chartered as Central Railroad of
$57,187
Surplus
$155,823
$98,636 Iowa and opened in 1871. Defaulted and placed in hands of a receiver
Charged to expenses in 1879 was $235,332 for renewals. The last past in 1873. Reorganized under present title, June 18, 1879, after fore¬
closure sale under first mortgage July 18, 1877.
Gross earnings
year was the seventh since the road was built, and no extensive renewals in
1878-79, $715,563; net earnings, $160,545.
The new stock Is
had previously been made. Capital stock, $15,000,000; funded debt,
$13,741,420; coupons pajrable, $194,794; bills and accounts, $1,153,- $2,100,000 common; preferred stock, 1st, $907,000; and 2d, $1,167,800,
548, and income account, $280,507; total liabilities, $30,370,269. given for the old 2d mortgage bonds. In February, 1880, the income
Per Contra—Construction and equipment, $23,777,145; stocks and bonds were issued to first mortgage bondholders in payment of four
bonds of absorbed lines, &c., $4,919,220; material
and supplies, years’ net earnings, and are payable by the company on three months*
$266,824; bills and accounts, $921,588; traffic balances, $348,001, and notice. (V 28, p. 17, 145, 299, 378, 453, 477, 553, 577; Y. 30, p. 168,
cash, $137,484; total property' and assets, $30,370,269. The total 191, 221, 248.)
amount of new bonds authorized is $14,000,000, of which the company,
Central of New Jersey.—Jersey City, N. J., to Phillipsburg, N. J., 73
after providing for all claims, held a reserve of $191,583. The bonus
miles, and branches 57—total owned, 130 miles ; leased lines—in New
carry interest at 3 per cent till 1881 and 5 percent for the other 27 Jersey, 50, and in Pennsylvania, 215, total leased lines, 262 miles;
years. A bondholder’s suit on old bonds was decided in his favor.
(V. total length operated, 395 miles. The principal leased lines in Pennsyl¬
30, p. 116, 141.)
vania arerthe Lehigh <fc Susquehanna and the Lehigh & Lackawanna,
Carolina Central.—Wiliqington, N. C., to Shelby, N. C., 242 miles. with their branches, &c. The main line from Elizabeth to Phillipsburg
Formerly Wilmington Charlotte & Rutherfordton, chartered in 1855. wras opened in July, 1852, and extended from Elizabeth to Jersey City
Succeeded by existing company after foreclosure May 3, 1873. Opened in 1864. The Long Branch division was opened in September, 1875.
to Shelby in September, 1875. Defaulted, and receiver placed in pos¬ The lease of the Lackawanna & Susquehana Railroad is dated March 31,
session April 5, 1870. Sale in foreclosure May 31, 1880. Earnings in 1871, and is virtually a consolidation agreement, the lessees having pur¬
1878-79, $120,705; expenses, $250,800; profits, $163,959.
Capital chased the rolling stock. In February, 1877, the property was placed in
account for March 31, 1876, (latest)—Preferred stock, $4,202,000, and the hands of a receiver, and on April 1,1877, default was made on con¬
funded debt, $0,000,000; total (cost of property), $10,202,000.
No solidated mortgage interest. Reorganization followed [See scheme, V.
Common stock acknowledged. Wilmington Bridge bonds, $200,000, at 26, p. 215], and has been a success. The Delaware & Bound Brook Rail¬
7 per cent guaranteed by company and acknowledged by receiver,
(V. road opened May 1, 1876, connects this road with the North Pennsyl¬
vania Railroad, and forms a route between New York City and Philadel
30, p. 384.)
all lines, original and acquired, 400
<fc Canada Southern, 67 miles, was




.

Subscribers will confer a great favor

explanation of column headings, &c., see notes
on first page of tables.
i

Central of Xew
Bonds

by giving immediate notice of any error

INIiles Date
of
of
Road. Bonds

Size, or

Amount

par
Value.

Outstanding

1872
1874
1878
1867
1874
1875

$1,000

$4,400,000

Jersey—(Continued)—

(convertible Nov., 1875 to 1877)

97

$25.000,000)

Consolidated mortgage (for

Income bonds, reg., (not cumulative)
Newark & New York, 1st mortgage

7

Lehigh & Wilkesbarre Coal Co., 1st mort., guar...
do
do
Consol mort., coup,
do
do Inc’mebds, rg.(not cum’lat’e)
Am. Dock & Imp.Co. bonds, guar. Ceut.of N. J—
Adjustment mortgage.

Central Ohio— Common stock
Preferred stock
1st mortgage bonds
Central Pacijh'c—Stock
1st mort., gold, (2 sinking funds, $50,000 each)..
California State aid, gold (s. fund, $50,000)

Bonds, formerly conv. into U. S. bds

(s.f.,$35,000)

1st in.S. Joaq’n Val.Br.,gld (s.f.$50,000,begins ’80)
U. S. Loan, (2d lien on certain terms)
Western Pacific, 1st mort., gold, (s. f. $25,000)...
do
Government lien
Cal. & Oregon, 1st M., gold, guar., (s. f. $100,000)
C. P., mortg. on C. <fe O. Br. (s. f. $100,000)
San Fran. O. & A., 1st M. (s. f. $100,000 begins ’80)
Land grant mortgage bonds

Champaign Havana d West.—1st mort., pref
1st mortgage

Charlotte Columbia d Augusta—1st mort. consol...
2d

Mortgage

Chartiers—1st mortgage

Cherry Valley Shar. d Al— 1st mort., convert
Chesapeake d Ohio—Purch. money funding bonds...
1st mortgage

($2,000,000), “A”.

1,000
100 Ac.
500 Ac.
£200

1.000
100 Ac.
50
50

1,000
100

1865-8
1864
1862
1870

1,000
1,000

1869

1,000

131
131
195
195
23
21

1,000

1,000

1868
1872
1870
1870
1879
1879
1869
1872
1871
1869
1878

1,000
1,000

Net

Gross

Years.
1873..
1874.
1875....
1876....
1877....
1878....
1879....

..

Earnings.

Earnings.

$8,881,306

$4,590,782

8,009,270
7,411,637
6,983,173
5,753,413
5,589,520

4,391,010
3,215,377
3,188,409
2,484,840
2,302,770

1,810,500

1,000
1,000

500,000
500,000
300,000
2,350,000

500 <fec.

1,000
1,000

Earnings, &c., were

—Paid from Net Earnings
Leases.
Interest.^. Dividends.

$868,659^

$1,150,304

807,406
058,243

1,128,434
1,059,549
980,113

$1,600,000
2,000,000
2,000,000
500,000

075,609
503,114

706,345
099,134

734,500

—(Y. 27, p. 651; V. 28, p. 120, 223, 470, 578; V.
p. 272, 408.)

1872-35964

500 Ac.

American Dock
railroad
brief
leased

follows:

3
6
3
6
7
7
6
6
6
6
6
6
8
6
7
7
7
7
7
7
6
6

500.000

100 Ac.

It was leased in 1879 to Phiki. & Reading RR. The
& Improvement Company, which is virtually owned by the
company, issued a mortgage in 1877 to secure its bonds.
The
abstract of operations of the New Jersey Central only, exclusive of
lines, was published in Chronicle, V. 30, p. 272, showing gross earnings
of $4,317,218 and
net earnings of $1,371,580 in 1879, against
$3,641,020 gross and $1,315,374 net in 1878.

13i

7,300,000
350,000
1,100,000

1,000
100 Ac.

434

7
7
7
7
6 g7
7
7
7

2,450,000
600,000
1,680,000
11,500,000
1,200,000
3,000,000
5,550,000
2,437,950
411,550
2,500,000
54,275,500
25,883,000
1,500,000
1,483,000
6,080,000
25,885,000
2,616,000
1,970,000
6,000,000
2,000,000

1,000

1878
137
137
137
2180
742
50
50
146
742
158
123
152
152
20

Rate per
Cent.

i5:ooo;ooo

100 etc.

phia.

as

Vol.

29, p. 197, 657; V. 30,

Central Ohio.— Bellaire, O., to Columbus, O., 137 miles. Chartered in
1847 and opened in 1854. Reorganized in 1805. Leased to the Balti¬

& Ohio, for 20 years, Nov. 11, 1800; rental, 35 per cent of gross
earnings. Gross earnings in 1878-79, $840,512; net earnings, $272,700.
Lease rental (35 per cent), $290,279. Loss to lessees, $23,579. Total
liabilities of the company are $5,857,528.
Assets — construction
and equipment, $5,358,550; trustees of sinking fund, $389,182, and
other assets, $109,790; total property and assets, $5,857,528.
The
road between Newark <fc Columbus (33 miles) is owned jointly with the
Pittsburg Cincinnati & St. Louis Railroad Co.
more

1,250,000

g.
g.
g.
g.
g.

Where

When

Bonds— Prmoi

M. & N.

Q.-J.

M. & N.
J. & J.
M. A N.

g-

g.
g.

pal, When Due

payable, and by
Wlioffi.

Payable

New York,
do
do

at office.
do
do

do
do
London.
Q.-M. N.Y.—Cent. RR. of N. J.
do
do
M. A N.
do
do
J. A J.
do
do
M. A N.
J. A J. Balt., at B. & O. office.
do
do
J. & J.
M. & S. Balt., West. Natl. Bank.
A. & 0. N. Y. & San Francisco.
N. Y., Fisk & Hatch.
J. A J.
J. & J. Sacram’o State Treas.
N. Y., E. Kelly & Co.
J. & J.
N. Y., Fisk & Hatch.
A. A O.
U. S. Treasury.
J. & J.
N. Y„ Fisk & Hatch.
J. & J.
....

g.
g.

U. S. Treasury.
N. Y., Fisk A Hatch.
,

& J.
& J.
& J.
& O.
& J.
A J.
A J.
A A O.
A. & O.
J. AD.
J. & J.
A. & O.

J.
J.
J.
A.
J.
J.
J.

xxx.]

discovered in tbese Tables.

INTEREST OR DIVIDENDS.

DESCRIPTION.
For

AND BONDS.

STOCKS

RAILROAD

20

New York A London.
N. Y., Fisk & Hatch.
do
do

N.Y., Nat. Bk. Republic
do
do
N. Y., Nat. Park Bank.

Columbia, S. C.
Philadelphia, Penn R.R.
N.Y.,Del.A Hud.Can.Co.
N.

Y., Fisk & Hatch.
do

do

Stocks—Last
Dividend.

Nov., 1902
July 1. 1899
May 1, 1908
1887
Feb. 1, 1899
June 1, 1900

May 1, 1888

i’,' 1903
29,1879
29, 1879
Sept., 1890
Feb. 1, 1880

May

Dec.
Dec.

1895 to ’98

July 1, 1884
Jan. 1, 1883
Oct. 1, 1900
1895 to ’98

July

1, 1899

1899
Jan.
Jan.

1, 1888
1, 1892
July 1, 1890
Oct. 1, 1890
July, 1909

July, 1909
Jan. 1, 1895
Jan. 1, 1910
Oct. 1, 1901
Dec. 15, 1899

July 1, 1898
July 1, 1908

mortgage held in May, 1879, $108,512 in cash and
$1,727,078 in notes, and'in August they called for sale to them of
$100,000 land bonds, and again in October for $100,000. (V. 28, p. 60,
121,477, 623 ; Y. 29, p. 95, 405, 434, 510, 563; V. 30, p. 248.)
Trustees of land

Champaign

Havana

d Western.—Champaign, Ill., to Havana, Ill.,
miles.

100 miles, and from White Heath to Decatur, 31-miles; total, 131
Built by the Indianapolis Bloomington & Western Railroad Co.,
the designation of Western Extension, and for which separate

imder
bonds

issued to the amount of $3,285,000. This extension was opened in
1873. Default was made October 1, 1874, and a receiver appointed

were

1874.
Sold February 6, 1879, and bought in by bond¬
holders, who organized the existing company and received the property
Sept. 1, 1879. Capital stock, $l,6o0,000, and funded debt, $1,450,000;
total (representing property), $3,100,000. In March, 1880, it was re¬
ported that a majority of the stock was purchased by the Wabash St.
Louis & Pacific. (V. 29, p. 301; V. 30, p. 356.)
December 1,

Charlotte Columbia d Augusta.— Charlotte, N. C., to Augusta, Ga., 195
miles. Consolidation (July 9, 1869) of the Charlotte & South Carolina
and the Columbia & Augusta, the first opened in 1852 and the latter in
1867. The road has been under the control and management of the
Richmond & Danville since 1878. Gross earnings in 1878-9, $478,491;
net earnings, $232,669, against $152,228 in 1877-8. Interest paid,
$192,142. There are, in addition to the above bonds, $189,500 of old
Columbia & Augusta bonds yet outstanding, due in 1890. (V. 27, p.
280; V. 28, p. 96; V. 30, p. 271J
^

Chartiers—Mansfield, Pa.,

C.

to Washington,Pa., 23 miles.

Chartered as

Valley in 1853 and opened in 18o6. Sold under foreclosure, and
reorganized in 1871. Leased for 99 years from January 1,1872, to the
Pittsburg Cincinnati & St. Louis; the rental is net earnings. Gross
Central Pacific.—San Francisco, Cal., to Ogden, Utah, 882 miles, and earnings in 1879, $84,660; net income, $24,749.
Interest, $35,000.
auxiliary lines, 330; total, 1,213 miles; operated under lease or con¬ Capital stock, $648,302, and funded debt, $500,000; total liabilities,
others,

tract—the Southern Pacific, 553; California Pacific, 165, and

168; total, 885 miles total length of road operated and accounted for,
2,098 miles. Consolidation (August 22, 1870) of the Central Pacific,
California & Oregon, San Francisco & Oakland,

ings have been as follows;

March

April
May

Monthly Earnings.

■,

1880.

1879.

1878.

81$1,110,989
845s- 80*8
980,528

$1,089,166
1,056,691

1,529,255
1,590,889

1,400,000
1,579,591

1,533,702
1,726,607
1,709,477

1,458,833
1,556,457
1,649,429

-

1,228,592

83V 76
-

June

1,393,852

-

July
August
September

-

-

1,773,089
1,537,493
1,432,918

1,280,272

$1,200,014
1,038,000
1,250,000

1,443,088

j

5,268,132
6,487,200
7,857,211
7,774,418

Earnings.
$7,894,681
8,342,899
9,177,882
9,136,005
8,696,726

8,786,119

8,744,739

Miles.

Earnings.

Accounts.

1,221
1,216
1,293
1,425
1,783
1,941
2,178

$12,803,953

$4,969,272

13,011,631
15,165,082
16,996,216
16,471,144
17,530,858

to Stock.

$1,628,265 (3)
2,713,775 (5)
5,427,550(10)
4,342,040 (8)
4,342,040 (8)
1,628,265

17,128,292

Leased lines rentals in 1878, $2,485,059; interest on bonds, $3,954,780.
The 7 per cent bonds, due 1883, will be paid off July 1 and Sept. 1,1880.
The annual report was given in the Chronicle, V. 28, p. 623, and V. 29, p.
405. The land department makes the following exhibit: Total grant
from the United States (12,800 acres per mile), 7,997,600 acres; grant
to the California & Oregon Railroad, 3,724,800 acres; total, 11,722,400
The lands have been sold mostly on five years’ time, with a cash
acres.

payment of 20 per cent at time of purchase. There had been sold prior
to the execution of the land mortgage, October 1,1870,127,637 acres
for $295,065, and since that date as follows :
Years.
Acres sold.
Oct. 1,1870, to Dec. 31,1872.... 122,765
1873....

1874....
1875....
1876....
1877....

5

58,733
63,846
29,254
36,503
92,647

1878....




$581,350.

78,100

Total am’t.

$484,227
410,314
388,824
163,725
275,400

1,203,870
643,776

and branches 7 miles; total, 435 miles. Consolidation of Virginia Cen¬
tral and Covington A Ohio, and opened through March 1, 1873. Exten¬
sion to deep water (seven miles) completed in
December, 1873.
Defaulted in 1873 and (October 9, 1875) receiver appointed. Sold
under foreclosure April 2,1878, for $2,750,000, and reorganized under

present auspices.
The annual report for 1878-9 was published in V. 30,
p. 141, and the president, Mr. C. P. Huntington, said in his report:
“The plan for the improvement of this property embraces the idea of a
connection by rail to a good harbor at the most available point on the
waters of Chesapeake Bay, and at the west end a connection with
the

1,809,022
1,488,142
1,335,870
Earnings and dividends for several years have been as follows:
Dividend
Net
Ave.
Gross
Operating

October
November
December

Years.
1873..
1874..
1875..
1876..
1877..
1878..
1879..

A Iban?/.—Cobleskill, N. Y., to Cherry
Chartered in 1869 and opened in 1870.

d

Leased on completion to Albany & Susquehanna. Sold under fore¬
closure in 1875, and purchased by the Delaware & Hudson Canal Com¬
pany for $320,119. Rental $21,000 a year.
Capital stock, $281,350,
and funded debt, $300,000. Total stock and bonds (cost of property),

Chesapeake d Ohio—Richmond, Va., to Huntington, W. Va., 428 miles,

Prices of St’k.,
1880.

87

(V. 28, p. 377; V. 30, p. 382.)

Cherry Valley Sharon
San Francisco & Alameda Valley, N. Y., 21 miles.

and San Joaquin Valley railroads. In connection with the Union Pacific,
the Central Pacific forms a continuous line from San Francisco, Cal., to
Council Bluffs, la. (1,918 miles), and there connects with the lines east¬
ward. Construction was commenced in February, 1803, and the main
line (Sacramento to Ogden) opened May 10, 1869. The Union Pacific
was completed on the same day.
The prices of stock and monthly earn¬

January
February

$1,148,302.

Av. per acre.

$3 94*2
7
6
5
7
12

00
09 60
54

Elizabeth

The vital

Lexington & Big Sandy Railroad to Louisville, &c.

importance of western connections, and of ocean terminus on

the Lower Chesapeake Bay, I have before referred to. Surveys have
been ordered for such a line between Gordonsville and the lower

Potomac, between Hanover Junction and the Bay of Piankatank, and
between Richmond and Yorktown on the lower James and York rivers,
with a view of determining|the most practicable point for trans-shipment
to large vessels, and
to the cities along

for the accommodation of through freights destined
the seaboard.” Earnings and expenses were as

follows:

Gross

Earnings.
$1,210,500
1,460,190
1,459,189
1,599,512

Years.

Under the

1,702,533
1,936,360

1,891,542

-

Operating
Expenses.

Net
Earnings.

1,214,340
1,112,321
1,245,036
1,363,225
1,594,739
1,507,332

245,850
346,868
356,476
339,308
341,621

$879,700

reorganization the stocks and bonds

are as

$330,800

.•

follows;

384,209

Capital

$15,906,138; preferred stock—first, $5,447,803; second,
$7,038,965; purchase money funding bonds, gold, due 1898, $2,350,000;
Virginia Central Railroad bonds and interest, $918,000; first mortgage
30-year 6 per cent gold bonds—A, $2,000,000, B, $15,000,000; second
mortgage 40-year 6 per cent currency bonds, $10,122,500. The “ B ”
bonds take interest in first preferred stock till November, 1881, then
partly stock and partly cash till 1884, and afterwards in cash. The

stock,

common,

second mortgage currency bonds till July, 1884, take interest in second
preferred stock, then for two years partly in that stock and partly cash,
and afterwards all cash, if the earnings are sufficient—“ all interest not
99*4
paid in cash to be paid in second preferred stock.” (V. 28, p. 41,172,
8 242378 502, 525; V. 29, p. 17, 66, 670; V. 30, p. 141, 248.)

RAILROAD

April, 1880.J
Subscribers will confer

a

explanation of column headings, &c.,
on first page of tables.

see

notes

Chesapeake d Ohio—(Continued)—
1st mortgage, gold, “B”
2d mortgage, income bonds
3d mortgage, (Va. Cent. R. R.,) coupon
Cheshire—Stock, preferred

.

....

....

.

Chicago Burlington <£ Quincy—Stock.
1st mortgage, sinking fund, (trust)
Consolidated morterage coupon, (for $30,000,000)
Trust mort.on Iowa lines,coup.or reg.(s.f. 1*2p.c.)
Northern Cross R. R. 2d. mortgage, gold

....

162
....

....

1682
466
825
689
100
96

Trust mortgage (Burlington to Peoria)
Plain bonds (coupon or registered)
Bonds of 1875, (sinking fund $13,860 per year)..

100 «fec.

.

....

...

...

677
649
322
220
220
38
38
150
37
37
150
101
101

.

...

64

Preferred st’ek (7 u. c. y’rly not cumulative)
General mortgage, sterling, for £900,000
1st mortgage
Income bonds
Joliet & Chicago, 7 per cent, stock
do
do * 1st mortgage, sinking fund
St. Louis Jack. & Ch., 1st mortgage
do
do
1st mort. guar, by C. & A...
do
2d mort. guar, by C. & A...
do
do
do
2d mortgage
Louisiana & Missouri, 1st mortgage
do
do
2d mort.(int. guar. C. & A.)
do
do
guar. pref. stock
Bonds for K.C.St.L.& C. line, s.f. $60,000 after’79
Preferred stock do
guar. C. & A
C. & A. bonds on Miss. Riv. Bridge, 1st mort., gold

•
...

...

187 1
1863
1862
...

100
500 &c.
100
100

1,000
1,000
500 &c.
100

1857
1864
1864
1868
1868
1870
1877
.

.

1,000
1,000

1,000
1,000
1,000
1,000
1,000

1878
.

.

.

100

.

1877
f

1,000
100

...

1858
1873
1879

1,000
1,000

1,000
....

.

.

.

.

.

.

.

.

....

1872
1875

1,000
1,000

$51,000. Gross earnings in 1878-79, $487,449; net earnings, $87,754.
Dividend, 1*2 per cent. Capital stock—common, $53,300, and preferred,
$2,100,000; floating debt, ,$25,703, and profit and loss, $33,808 ; total
liabilities, $3,043,811. Per contra—Road and equipment, $2,717,535;
materials, $141,110; and cash and cash assets, $185,165; total propirty
and assets, $3,043,811. New 6 per cent bonds for $586,000 authorized
to redeem bonds of 1880. (V. 27, p. 537.)

Chicago d- Alton.—Chicago, Ill., to East St. Louis, Ill., 281, and
branches, 132 ; total (main line and branches), 413 miles. Leased lines,
Chicago «fc Illinois River, 24; St. Louis Jacksonville & Chicago, 151;
Louisiana & Missouri River, 101; and Kansas City St. Louis & Chicago,
164; total leased lines, 438 miles. Total lines operated, 851 miles. The

Joliet <fe Chicago (leased), 37 miles, is included in the main line. Char¬
tered as the Chicago & Mississippi, February 27, 1847; reorganized
under act of January 21, 1857, as Chicago Alton & St. Louis, and under
act of February 16, 1861, the present corporation succeeded to the

sold under foreclosure in the following

year

and

transferred to new organization in October, 1862.
Chicago and St.
Louis were connected by the present line in 1864.
The Joliet
&

Chicago is leased from January 1, 1864, for the term of its
charter, and forms part, of the main line. Rental, 7 per cent on stock and
8 per cent on bonds. The St. Louis Jacksonville & Chicago is leased in
perpetuity from April 30,1868, at a rental equal to 40 per cent, of gross
earnings until the amount reaches $700,000, with a minimum of $240,000
a year. The Louisiana <fc Missouri River is leased for 999 years from
July
1,1870. Rental, 35 per cent of gross earnings, but interest guaranteed
on second mortgage bonds and preferred stock as above; the
preferred
stock is $1,010,000 and common stock $2,272,700.
The Chicago &
Illinois River Railroad was sold in foreclosure Sept., 1879, and purchased
by this company. The Kansas City St. Louis & Chicago was opened
through May 1, 1879. It was built by the Chicago & Alton Company,
and is leased to said company in perpetuity from November 1,1877. at a
rental of 35 per cent of gross earnings, less taxes and assessments. The
bonds are held by United States Trust Company as security for the C. &
A. bonds of 1878 issued to build this road, and a
sinking fund of
$60,000 per annum provided for their redemption. Should the 35 per
cent be more than sufficient to pay bond interest and 7 per cent on
the stock, the excess is to go to the lessees. The Mississippi River
Bridge
is leased in perpetuity from December 3,1877, at a rental of $63,000, to
be applied in payment of 7 per cent on $200,000 stock, and 6 per cent on
$700,000 bonds. New common stock (C. &A.) for $1,000,000 issued
May, 1880, see V. 30, p. 408. Prices of stock and monthly earnings

Outstanding

Rate per

When

Cent.

Where Payable, and by

Payable

Whom.

6 g.
6
6

6 g.
7
7

M. & N.
J. & J.
J. & J.
J. & J.
J. & J.
M. & S.
M. & 8.
J. & J.
J. <fc J.
A. & O.

1%

10,000,000
918,000
2,153,300
831,000
10,065,300
2,425,400
4,379,850
2,363,000
3,096,000
1,500,000
306,000
2,365,000
564,000
188,000
360,000
1,851,000

Q.-J.

1*2
6
3

3*2

8
7
7
7
7
7
7

J.
A.
A.
J.
J.
F.
M.

Feb.
Mar.

Apr.
May
J’ne.

July

Aug

-

-

Monthly Earnings.
1879.

524,055

307,681
327,370
335,393
421,937

488,543

-88
Oct,. 99V 94*2
Nov.100*4- 97*4
-

98

.

-

110*8-110
115 -112*2
-

Annual report for 1879 in V. 30, p. 246.
have been as follows for seven years past:

Gross

Years.

Earnings.

$5,497,541
5,126,228
4,656,764
4,960,529
4,464,343
4,671,519

Operating
Expenses.

$3,376,255
2,901,351
2,604,124
2,691,061
2,357,006
2,515,134

5,755,677
3,049,520
274, 298, 400, 428, 624; V. 30,

Y., Fisk & Hatch.
do

N.

Y., Am. Exch. Bk.

-

--

”!!!!”

Operations, earnings, &c.,
Net

Earnings.
$2,121,286
2,224,877
2,052,638
2,269,468
2,107,337
2,156,385

Dividends
on Stock.
$1,135,080
1,135,080
1,021,572
985,652
926,898
448,262

1884

Boston.
do

Jan. 12, 1880

N.Y.,M.K. Jesup,P.& Co.
do

do

Lond’n,J.S.Morgan&Co.
N.Y.,M.K.Jesup,P.& Co.
do
do
N. Y. U. S. Trust Co.

July 1,’80&’96
Mar.
Mar.

1, 1880
1,1880
July 1, 1903
Jan., 1893
Jan.,

1883

‘April, 1880
N.Y.,M.K.Jesup,P.&Co.
July, 1882
do
do
do
do
do
do
do
do
do

do
do
do
do
do
do
do
do
do

April. 1894
April 1,1894
July, 1898
July, 1898
Aug., 1900
Nov. 1, 1900
May 2, 1880
May 1, 1903
May 2, 1880
N.Y.,M.K.Jesup,P.&Co. Oct. 1, 1912
N. Y., Bk. of Commerce. May 3, 1880
'do
do
Jan. 1, 1883
N.Y.N.Bk.of Oom.&Bost July 1, 1903
Oct. 1,

1919

July 1, 1890
Oct.

1, 1890

Jan. 1, 1896
June 1, 1895

a year.
The Chicago Clinton Dubuque & Minnesota, 208 miles, was
taken under perpetual lease near the close of 1879.' The rental is inter¬
est on bonds and 4 per cent on stock.
The Chicago Burlington &

on its leases of the numerous branch roads usually gave them a
guarantee of 40 or 50 per cent for purchasing their bonds.
Enough*of the C. B. & Q. consolidated mortgage is reserved to take up
prior debts. In January, 1879, new stock equal to 10 per cent of the
old was issued to stockholders at par. The bonds of 1876 for St. Louis
Rock Island & Chicago Railroad are plain bonds of Chicago Burlington &
Quincy, offset by mortgage of like amount on 8t. Louis Rock Island &
Chicago road deposited with trustees. Prices of stock and monthly earn¬
ings have been;

Quincy

traffic

Monthly Earnings.

Prices of Stock.

,

1 Si7 H

1 Q70

J’ne 101

-

95*2 108

J’ly.100 - 97
Aug 104*2- 98*2
Sept 102*4- 99*2
Oct.. 105 -101*4
Nov.10338-101*2
Dec. 102*4-101

,

1 U7Q

Jan.ll878-H638 103*2-102
Feb. 117*2-109
105V 99*4
Mar. 109*2- 94
101V 99%
106 -101*4
Apr.104 - 96
May 102*2- 99 10578-100
-104

11478-106*2
112*2-108*4
11258-10878
113 -108
112*2-110
111 -105*2

1 QQn

1879.

1880.

O*

01

117*2-111*8 152 -136
1105,098 1200,238
122*4-115*2 148 -144*2 982,377 1180,853
115*4-11238 149*2-140*2 1071,733
115 -112*2
1018,755
118*2-113*4
1171,303
116 -11434
1160,968
119 -116
993,823
119*2-11338
1315,559
115*8-113*4
1484,316
124 -11378
1709,932
123*4-117*4
1327,679
134*2-119
1438,167

The last annual report was published at length, with an article on the
general situation of the company, in the Chronicle, V. 30, p. 334, 354
Comparative statistics for four years are as follows:
1876.
Miles owned
Miles leased and controlled

Total

operated.

1,297

1877.

1878.

1879.

1,575

1,604

1,760

46

"

105

97

46

-

1,343

1,621
1,709
1,857
$
$
Total gross earnings
12,057,795 12,551,454 14,119,665 14,817,105
Total operating expenses. 6,475,252 6,851,155 7,533,135 7,228,222

$

Net earnings
P.c. of oper.exp.to

5,582,543

earn’gs

5,700,299

6,586,530

7,588,883

53*70

54*58

53*35

48*74

5,700,299

6,586,530

7,588,883

131,395

155,695
2,155,972
*603,437
2,212,827

179,093
2,110,938
328,844

INCOME ACCOUNT.

$
Total income
5,582,543
Disbursements—
Rentals paid
84,263
Interest on debt
1,991,957
Taxes
418,234
Dividends
2,749,065
Carried to sinking fund...
194,082
Miscellaneous
Transfd to renewal fund.

kqq qqo

628,8ii
668,163
601,101
553,014

Stocks—Last
Dividend.

July 1, 1908
July 1, 1918

do

*

$

$

2,108,469
327,159
2,479,715
241,104
31,442

3,081,985

223,313

230,493
t423,085

1,000,000

536,843

_

!>!.’!!-!!!!!! ii6*2-iio*‘!!!.*.*.'-!.*!!!.
-

602,624

447,794

-

-

-

1880.

343,737

-

sept 97

Dec. 100

-

-

—'

& J.
& O.
& O.
& J.
& J.
& A.
& N.

N.

pal,^When Due.

Cross and the Peoria & Oquawka railroads.
The Q. A. & St. L. was
leased in perpetuity from Oct. 1, 1876, at a rental or $42,000 a year.
The St. L. R. I. & C. was leased from Oct. 1,1876 ,at a rental of $175,000

have been:

-Prices of Stock.-Common.-Preferred.1879.
1880.
1879.
1880.
88
79*4 10978- 99*2 106 -105*2 120 -117
87 - 78
110*4-106*2110 -107*2 122 -122
80 - 75
116 -106*4 HO -108
80 - 75
109 -109
85 - 77
110 -108
114 -114
84*4- 81*4
114 -114
88*4 84
95 - 86

Bonds—Princi¬

1*2
Q.-F.
6 g. M. & N.
3,000,000
1,750,000
1*2
Q.-F.
6
A. <fc O.
700,000
31,004,456 l*4&20st Q.-M.
8
J. & J.
2,711,000
7
J. & J.
13,695,000
5
A. & O.
New York.
600,000
4 g. J. & J.
Frankfort.
741,000
7
A. & O. N.Y., N. Bk. of Com’rce.
653,000
7
J. & J.
8o8,475
Boston. Co.’s office.
5
J. & D.
399,000
Boston, Co.’s Office.

1,000

Cheshire—South Aslibumham, Mass.* to Bellows Falls, Vt., 54 miles
Between South Ashburnham and Fitchburg (11 miles)
the Vermont & Massachusetts Railroad is used at a yearly rental of

Jan.

21

INTEREST OR DIVIDENDS.
Amount

300,000
262,100

100

.

Opened in 1848.

was

BONDS.

$!00&c. $15,000,000

....

Bonds, not mortgage

781

Miles
Date
Size, or
of
of
Par
Road. Bonds Value.

434

Chicago <6 Alton— Common stock

property, which

AND

great favor by giving immediate notice of any error discovered in these Tables.

DESCRIPTION.
For

STOCKS

1,000,000

Balance, surplus
144,942
381,015
235,286
234,445
Including $264,656 taxes ’73 & ’75. t Balance of accounts written off.
GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR.

Railroad, buildings, &c....50,193,931 53,3^,339 54,840,462 58,112,329
Equipment
8,986,754 9,446,499 10,305,749 11,131,683
Stocks owned, cost
404,553
Bills and acc’ts receivable 1,633,958

Materials, fuel, &c
Cash on hand
Due from St.L.R.I.&C.RR.
Trustees B. & M. I’d grant.
Trustees C. B. & Q. s. fund

Miscellaneous items

518,447
16,252

52,251
1,711,929
888,655
79,011

1,756,434
524,796
172,491

1,244,276
753,589
529,661

1,348,559
1,067,889
50,362

1,695.842
1,273,415
60,434

1,985,083
862,485

619,171
49,369

1,062,650
876,019
55,725

2,706,156
765,776
Total
65,270,003 67,557,078 70,066,742 74,801,229
-(V. 28, p.
p. 246, 408.)
Liabilities—
$
Chicago Burlington dk Quincy—Chicago, Ill., to Plattsmouth, la., 484 Stock, common
27,227,811 27,377,610 27,822,610 30,883,600
miles; branches m Illinois, 570 miles, and in Iowa 267 miles; leased Stock, B. & M
370,432
267,306
134,206
120,856
lines in Illinois, 321 miles, and lines operated under contract for
a...joint Bonds
22,986,325 26,122,826 27,058,725 27,270.225
use in Iowa, 27 miles; total lines and branches owned, leased and
oper¬ Bills payable
2,043,575
3,800
81,205
29,000
ated at close of 1878,1,670 miles. During the year 1879 the Iowa branch¬
Sinking funds
2,072,952 2,360,014 2,651,825 2,963,086
es were extended in the aggregate a
length of 114*amiles(10 in Missouri), Contingent liabilities
4,515,000 4,482,000 3,819,000 3.233,000
The total length of road operated Jan. 1,1880, was 1,856 miles. In Land
grant sinking fund.. 1,114,640 1,437,722 1,749,229 2,164,015
February, 1880, the St. Joseph <fc Des Moines (narrow gauge), 23 miles, Income account
3,991,384 3,946,532 4,181,818 4,416,263
was purchased.
The Chicago Burlington & Quincy was a consolidation Renewal fund
1,000,000 2,000,000
(January 1, 1873) of the Chicago Burlington <fc Quincy in Illinois Miscellaneous
796,302 1,413,760 1,462,285 1,644,582
and the Burlington & Missouri River in Iowa. The C. B. &
Q. in Illinois Profit and loss
151,582
105,839
76,602
145,508
was a consolidation (July 9,1856) of the*
Chicago & Aurora and the Cent¬
ral Military Tract. At a later date the
Total liabilities
company purchased the Northern
65,270,003 67,557,078 70,066,742 74,801,229




Subscribers will confer a great favor

Quincy—(Continued)—

Hannibal, 1st m...) pmmnn
Ottawa, Oswe,™ & Fox Riv., 1st m
be
rand
Illinois Gran Trunk, 1st mort....
registered 1
Warsaw, 1st mortgage ..) registered, y
Quincy &
it.
B’ds for St L. R. I. & C. (sink, fund $50,000) coup.
Dixon Peoria <fc

(.butmay

Quincy Alton & St. Louis, 1st mortgage, coupon..
Burl.A Mo. Riv., 1st .on r’d& 400.000 ac’sl’d | Cp.
do
1st M. on br.,C.B.&Q.stk.(5th ser ) > or
do
Conv. bonds, C.B.&Q.stk.(6tli ser.) J reg.
Chicago d Canada Southern—1st mort., gold
•Chicago Cincinnati d Louisville—1st mort
Chicago Clinton Dubuque d Minn.—Stock
1st mortgage

■Chicago Detroit d Canada Grand Junction—1st M .
Chic, d Eo8t.Hl.—1st M., coup. (S.f.$20,000 after’85)
2d mortgage income
Chicago d Grand Trunk—Stock
Chicago d Iowa—1st mort., coup., may be reg
Chicago Iowa & Nebraska—Stock
2d mortgage (now 1st)
3d
do
(now 2d)

Chicago Milwaukee <A St. Paul—Com. stock
Preferred st’ek (7 p. c. y’rly, not cumulative)
Consolidated mortgage (for $35,000,000)
1st mortgage < Lacrosse Div.)
' So®
2d mortgage

ft

(Iowa & Minnesota)
(Minnesota Central)
(Iowa & Dakota)
1st mort., Ia. & Dak. Ext.($15,000 p. m.)
1st mortgage
1st mortgage
1st mortgage

1st mortgage

The land

(Prairie du Chien)

discovered in tbese Tables.

by giving immediate notice of any error

Miles

explanation of column headings, &c., see notes
on first page of tables.

♦Chicago Burlington <k

fvoi,. xxx.

INTEREST OR DIVIDENDS.

DESCRIPTION.
For

BONDS.

AND

STOCKS

RAILROAD

22

£
o
r-M

S ss k;. o

QSSS

grant brought into the consolidation was

Date
of

of
Road. Bonds

40
70
44
40
270
46
281
40

67
73
223
223
59
132
132
80
82
82
82

1,729
1,729
370
370
220

49
300
235

1869
1870
1870
1870
1876
1876
1863
1869
1870
1872
1867
-

-

-

Size, or
Par

Outstanding

Value.

50 &c.
500 &c.
500 &c.

1,000
•

•

•

•

'.

•

•

.

.

.

1871

1,000

^

m

1875
1863
1864
1867
1864
1869
1878
1868

100
100 &c.
500 &c.
100
100

1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000

388,817 acres, all of

which, except 39,932 acres, had been sold by the close of 1878. The
assets at the close of 1878 amounted to $4,909,431.
The grant
was
made to the Burlington & Missouri River Railroad.
In Feb¬

1880, the consolidation with the Burlington & Missouri River in
Nebraska, including the control of Atchison & Nebraska, was to be voted
at the annual meeting on Feb. 23; this is to be on the basis of an
exchange of stock share for share and a stock distribution of 20 per
cent. (V. 28, p. 223, 274; V. 29, p. 67, 119, 356, 658; V. 30, p. 16, 116,
221, 248, 334, 354.
Chicago & Canada Southern.—Grosse Isle, Mich., to Fayette, O., 67
miles. Has been operated by the Canada Southern for two years, and no
separate accounts are rendered. On Nov. 1, 1879, it was transferred to
the Lake Shore & Michigan Southern. The price given for it was re¬
ported to be $750,000. It had a capital stock amounting to $2,667,400
and a bonded debt of $2,546,000, and owed upwards of $1,000,000 over¬
due coupons. Original cost, $5,176,557. It is a part of a projected line
between Chicago and Detroit River, but failed in 1873. It is said that
the road will he extended to a connection with the Lake Shore &
Michigan Southern Railroad.
Chicago Cincinnati d Louisville.—Peru, Ind., to La Porte, Ind., 71
miles. Opened in 1858. It is a reorganization of the Cincinnati Peru
& Chicago, and forms a part of the line from Indianapolis to Michigan
City. No information is furnished by the officers.
Chicago Clinton Dubuque d Minnesota.—Clinton, Iowa, to La Crescent,
Minn., 165, and Turkey River to Wadena, 43—-total, 208 miles. Con¬
solidation (February 28, 1878) of the Chicago Clinton <fc Dubuque and
the Chicago Dubuque <fc Minnesota. Both lines had been through the
courts for default, and at date of union were in the hands of trustees.
Gross earnings in 1879, $491,075; net earnings, $120,078. See annual
V. 30, p. 296. (Y. 27, p. 331; V. 28, p. 68, 301; V. 30, p. 191,
ruary,

Chicago Detroit d Canada Grand Junction.—Port Huron,
Detroit, Mich., 59 miles. Opened in 1859. Leased to Grand

Pay-able

Mich., to

Trunk of
Canada. Operations, expenses, Ac., included in lessees’ returns. Rentalinterest, quarterly, $65,700, and dividends, semi-annually, each 2 per
cent, $43,800. Capital stock, $1,095,000, and funded debt, $1,095,000;
total liabilities (representing cost of property), $2,190,000. The road is
the absolute property of the lessees, but a separate organization is main¬
tained in Michigan.

Chicago d Eastern Illinois.—Dolton, Ill., to Danville, HI., 107% miles*
■and Bismark, Ill., to Coal Creek, Ind., 24 miles; total, 131% miles
Dolton to Chicago (20% miles) is made over the Pittsburg Cincinnati &
8t. Louis Railway. Chartered as Chicago Danville & Vincennes in 1865
Mid opened in 1872 and 1873. Sold under foreclosure February 7,1877,
and reorganized under existing style September 1, 1877. Gross earn¬
Payments—taxes,
ings in 1879, $893,601; net earnings, $354,507.
$10,744; leases, $63,852; interest oh bonds, $166,110; rent of real
estate, $7,359; and interest and exchange, $13,198; total, $261,264.
Surplus, $93,242. Capital stock, January 1, 1880, $399,154; mort¬

714,329
6,600,000
1,750,000

3,916,200
568,200
211,500
15,404,261
12,279,483
8,433,000
6,600,000
496,000
3,810,000
183,000

577,000
3,674,000

Dividend.

Whom.

•

•

•

Oct.
Feb.
Oct.

1, 1896
1, 1893
July 1, 1894
July 1, 1889
April 1, 1902
Jan., 1887
April 15,1879
Feb. 1, 1884

Boston, Office.

•

1889
1900
1890
1890
1, 1901

July,
July,
Oct.,
July,

F. & A.
do
J. & D.
London, England.
J. & D. New York, 4th Nat. Bk.
Dec.
do
do

June, 1907
Dec., 1907

'

....

J.
J.
J.

8
5
7
7

3,500,000

pal,When Due.
Payable, and by Slocks—Last

& A. Boston, C. B. & Q. RR.
A & O Boston and New York.
J. & J.
do
do
do
J. & J.
do
A. & O. N. Y., Union Trust Co.
J. & J. N. Y., Farm. L. & T. Co.

....

'

Where

& J. N.Y., N. Bk. of Com’rce.
& J. New York and Boston.
& 0.
Boston.
& J. New York and Boston.
& 0.
Boston.

J.
J.
A.
J.
A.
F.

8
8
8
8
5
5
7
8
8
7 g.
7
2
7
6
6
7

1,000,000
6,156,000
400,000
1,095,000
2,847,000

1,000
1,000
1,000

100 <fcc.
100 &c.
100

m

Cent.

2,541,350

500 Ac.

500 &e.

1877
1877

m

When

1,076,000
890,500
720,000
2,356,000
840,000
4,621,250
279,000
370,500

1,000

1879

1860
1863

Rate per

$546,500

$500&c.

•

^

Amount

J. New York and Boston.
J. Boston, by Treasurer.
J. Boston, Merchants’ B’k.
A. New York, Park Bank.

&
&
&
F. <fc

3%
3%

•

A.
J.
J.
A.
J.
J.
J.
J.
F.

7
7
7
7
7
7
7
8

•

•

&
&
&
&
&
&
&
&
&

Office.

New York,
do
do
do

•

O.
J.
J.
O.
J.
J.
J.
J.
A.

do
do
do
do
do
do
do
do

July 1, 1901
Jan. 1, 1880
July 1, 1888
Aug. 15,1892
April 15,1880
April 15, 1880
July 1, 1905
1893
1884
1897
1894
1899

do
do
do
do
do
New York, Office.

July 1, 1908
1898

123, and cash and cash assets, $281,563; total, $4,943,686.
mortgage has been satisfied and canceled as of record.

The first

Chicago Milwaukee d St. Paul—In February, 1880, the following was
officially reported as the mileage owned and operated by this company-,
making a total of 2,251 miles in all: Chicago to Milwaukee, 85 miles;
Milwaukee to La Crosse, 196 miles; La Crosse to St. Paul, 130 miles;
Milwaukee to Prairie du Chien, 194 miles; Milton to Monroe, 43
miles; North McGregor to St. Paul, 212 miles; Conover to De¬
corah, 9 miles; Mendota to Minneapolis, 9 miles; Calmar to Marion
Junction, 287 miles; Austin to Mason City, 39 miles; Hastings
to Ortonville, 202 miles; Davenport to Fay-ette, 128 miles; Watertown to Madison, 37 miles; Milwaukee to Portage, 98 miles; Mad¬
ison to Portage, 39 miles, 8parta to Melvina, 12 miles; Lisbon to Necedah,
13mile8; Wabasha to Zumbrota, 59 miles; Horicon to Berlin and Winneconne, 57 miles; Ripon to Oshkosh, 20 miles; Sabula to Cedar Rapids,
92 miles; Paralta to Farley-, 44 miles; Racine to Rock Island, 197 miles;
Eagle to Elkhom, 17 miles, and Eldridge to Maquoketa, 32 miles. The
Milwaukee & St. Paul Railroad Company was organized May 5,1863,
and embraced a number of other companies, including the Milwaukee &
Miss., the Prairie du Chien, the Lacrosse & Milwaukee, and others.
The Milwaukee & St. Paul afterward purchased the St. Paul & Chicago
Road and others, and built the line from Milwaukee to Chicago, and on
Feb. 11, ’74, the company took its present name. In February, 1880, the
Hastings & Dakota RR. was also reported as purchased, and in March
and April the Chicago & Pacific purchased and the Sioux City & Dakota
leased. The Western Union Railroad was leased in 1879 for 999 years,
and the bonds were to be retired by the issue of the Chicago Milwaukee &
St. Paul bonds secured by mortgage on that road.
Of the consolidated
mortgage bonds of 1875, enough are reserved to take up the prior bonds,
and any of the holders of those bonds (except the Iowa & Dakota
division) may exchange them for the consol, bonds. The latter had a
sinking fund of 1 per cent per annum, but holders may have their bonds
stamped and discharged from the operation of the sinking fund. The
prices of stock and monthly earnings have been:
-Prices of Stock.Monthly Eamin
-Preferred.
1880.
1879.

-Common.
1879.
Jan. 48 %- 343a
Feb. 42%- 37%
Mar. 41V 35%

Apr. 43%- 39%
May 51%- 405q
J’ne. 54V 5050
July 64V 5050
Aug. 70 - 617s
Sept 71 - 64%
Oct.. 75 %- 6730
Nov. 82V 69
Dec. 76 - 68%

1880.

80V 75H
815b- 76%
85V 79
-

^
-

-

74% 103VlOOSg
79% 104%-102%
79% 107%-103%
79%

91

81%.*....-

-

935096%97V
101%-

90

90%
9230
9630

-

-

10050- 97

-

591,175 763,000
476,666 739,000
632,898 901,000
678,439
857.323

798,658

-

-

1

$

85V
85V
83V
83V

99%-- 97
102V 97%

-

1879.

,

773,172
733,756
1018,806
1290,739
1100,244
1060,957

An abstract of the last annual report was published in the Chronicle, V.
30, p. 406. The following table shows the operations earnings, capital

$3,000,000; income bonds, $714,329; bills payrable, &c., $80,816;
and income balance, $131,020; total liabilities, account, &c., for four years past:
1876.
1877.
1878.
187$.
$4,430,708.
Per contra—Cost of road and equipment, $4,143,684; Miles owned
1,400
1,412
1,772
2,231
mortgage bonds on hand, $153,000, and sundry- accounts and balances,
OPERATIONS AND FISCAL RESULTS.
$134,023; total property, &c., $4,430,708. A new line from Dolton into
Chicago is being built by the Chicago & Western Indiana Railroad Co., Passenger mileage... 59,845,665 55,925,449 -65,498,189 78,119,592
and has been leased to this company-. The company- have also taken a Rate
per pass. p. mile
3*20 cts.
3*21 cts.
3*09 cts.
2 93 cts.
perpetual lease of the Evansville Terre Haute & Chicago Railroad, at 6 Freight (tons) inil’ge.264,808,027 271,598,133 321,818,902 401,595,734
percent on bonds, $75,000 per year. (V. 28, p. 113, 327; V. 29, p. 146, Av. rate p. ton p. mile
1*80 cts.
2*04 cts.
2*08 cts.
B72 cts.
488; V. 30, p. 91, 221.)
$
$
$
$
Total gross earn’gs.
Chicago & Grand Trunk—This is the consolidation of roads between
8,054,171
8,114,894
8,451,767 10,012,819
Detroit and Chicago formed in April, 1880, under the control of the Oper. exp. (incl.tax’s)
4,953,324
4,540,433 4,792,313
5,473,794
Grand Trunk of Canada. It includes the former Port Huron & Lake,
4,539,025
3,659,454
Michigan and the Peninsula roads, sold in foreclosure. (V. 30, p. 322, Net earnings
3,100,847
3,574,461
54*70
56*70
384;
P.c. of op.ex. to ear’gs
56*00
61-50
INCOME ACCOUNT.
d: Iowa.— Aurora. Ill., to Foreston, HI., 80 miles, and Chicago
C'U
Roitf-^rd & Northern Railroad (leased), 27; total operated, 107 miles.
1879.
1878.
Receipts—
1877.
Ciirfered in 1869 and opened in 1872. In hands of a receiver for two Balance
January 1
$1,433,645 $2,359,306 $2,520,074
years and a-half, and sold March 9, 1878, in foreclosure of second mort¬ Net
earnings
3,574,461 3,659,454 4,539,024
gage of $1,150,000, and a resale ordered.
Compromise effected, and Other receipts
13,430
74,517
c) Vpon of July-, 1878, paid July, 1879.
Net earnings under receiver (29
payments,
mrnths), $781,913—$323,950 per annum. Balance after all
Total income
$5,008,106 $6,032,190 $7,133,615
$63,004. Interest liability, $140,000 a year. Capital stock, $1,328,000,
Disbursemen ts—
and funded debt, $1,750,000; total stock and bonds, $3,078,000. Cost
Interest on debt
$2,162,159 $2,135,730 $2,287,407
of road and equipment, $3,158,000. This road is used by- the Chicago
32,040
4,034
Miscellaneous
Burlington & Quincy to connect with the Illinois Central. (V. 30, p. 168.) Dividends on preferred stock *
1,289,346 “'859,564
429,607
385,106
1
Chicago Iowa d Nebraska.—Clinton, la., to Cedar Rapids, Ia. (all steel), Dividends on common stock
70,000
55,000
53,000
82 miles. Chartered in 1853 and opened iu 1858. Bridge over Missis¬ Sinking fund
3,531,538
2,520,074
.
2,359,306
sippi opened 1856. Leased to Galena <fc Chicago Union at 37*2 per cent Balance, surplus
-of gross earnings, and now operated by- Chicago A Northwestern; the
Total
$5,008,106 $6,032,190 $7,133,615
maximum rental by- subsequent agreement not to exceed $500,000i a
year. Interest liability-, $47,383, and dividends (10 per cent), $391,620;
Part of these dividends on preferred stock were stated as payable
total fixed charges, $439,003 a year. Capital stock, $3,916,200; funded
debt, $676,000; interest and dividend balances, $9,592, and surplus out of the earnings of the previous year as follows; In 1877, $429,607;
account, $341,894; total, $4,943,686._ Per contra—Construction, $4,662,- in 1878, $859,564; and in 1879, $429,781.
gage,

accounts, $105,387;




*

Subscribers will confer a great

Miles
Date
Size, or
of
of
Par
Road. Bonds Value.

first page of tables.

Chicago Milwaukee cC St. Paul—( Continued)—
2d mortgage (Prairie du Cliien)
) Coupon

1868

$1,000
1,000

219,000
4,000,000
160,000
2,500,000
1,785,000
4,000,000
14,988,807
21,525,602
972,200
676,400
3,440.400
116,000
180,000
1,638,000
158,000
272,000
247,000
5,19«,000

(7 p. c. y’rly, not cumulative)..

m

m

193
193
193
23
26

Bonds, prof, (sink’g fund), 1st mort., Chic, to
Interest bonds, funded coup., 2d m., Chic, to Osh.
1st mort., general, 3d mort., Chic, to Oshkosh
Appleton exten., 1st mort. on 23 miles aud land..
Green Bay exten., 1st mort. on 26 miles and land
1st mort., Galena A Chicago Un. RR. extended...
Mississippi River Bridge b’ds, lien on not earnings
1st mort. (Peninsular RR,) on roads aud lauds...
1st mortgage (Beloit & Madison Railroad)

m

m

m

fund, gold.
Chicago A Milwaukee, 1st mortgage, 2d lien..

1859
1862
1859

1863
1863
1865
1871
•

1,000
1,000
1,000
1,000
1,000
500 Ac.

1,000

•mm

1876
1871
1872
1870-1
1871-1
1871
1870

1872

500 Ac.
500 Ac.

1,000
1,000
100 Ac.

1,000
500 Ac.

1878
1878
1878
1879

1,000

1873

1.000

88
156

Chicago <£ Pacific—Bonds (pledged)
Chicago <t Paducah—1st mortgage.

100
100
100 Ac.
100 Ac.
100 Ac.
500 Ac.
500 Ac.

1862
1853

85
25
Menominee River, 1st mort., guar
120
Menominee extension, 1st mortgage, gold
Gen. cons mort., gold, coup, orreg. ($48,000,000) 1,058
137
Winona & St. Peter, 1st mort., guar by Chic.ANW.
137
do
2d mort.,
do
do
175
do
1st M. exten, gld, land gr., s. f.
75
Iowa Midland, 1st mort., guar, by Chic. & N. W..
62
Northwestern Union, 1st mortgage, gold
24
Minnesota Valley, 1st mortgage
24
Rochester A No. Minnesota, 1st mortgage
15
Plain View Railroad, 1st mortgage....
Sinking fund bonds of 1879 ($15,000 per mile)...

•

•

•mm

•

m

74
46
779
126

•

1,000

m

•

248

Consol, sink’g fd Mortg
Madison extension, 1st mort., sinking

•

1,000
1,000

•

•

m

•

•

m

m

1,515,750

owned, cost...
Bonds owned, cost...
Stocks

59,001,257

$
63,399,448

2,469.096

7,133,028

$

1,515,750 \
353,171 i
161,653

350,471
162,098
244,721
90 i,760

1,181,047

185,610
133,127
976,160

305,165

264,565

318,660

60,562,205
$
15,399,261 15,404,261
12,274,483 12,279,483
30,010.500 29,954,500
109.921
71,114
2,359,306
1,433,645
364,556
447,501
Unpaid pay-rolls, Ac.
128,985
Miscellaneous
81,881

63,083,910

60,562,205

63,083,910

BiilsAacc’ts rec’vable

Materials, fuel, Ac.
Cash on hand
Daven. & N'west RR.
Miscellaneous items..
..

Total
Liabilities—
Stock, common
Stock, preferred
Bonded debt
All other dues & acc’ts
Income account

Total liabilities...

199,186

59,757,192
$

59,757,192

1879.

1878.

$

'

Cent.

$
15,404.261
12.279,483

32,088,500
131,812

2,520,074
484,715
175,065

1874-65.

3,150,000
1,700,000

400,000
2,700,000
12,343,000
2,750,000

1,650,000
4,313,000
1,350,000

3,500,000
150,000
200,000
100,000

2,400,000
1,357,000
2,961.000

1

Whom.

Payable

7 g.
7 ,
7
7 g.
8
7 g.
7
7
7
6

A A.
New York, O.fice.
do
do
A J.
A J. London and New York.
A J.
New York, Office.
do
A J.
do
do
do
J. A J. N.Y., Mil. A St.Paul RR.
J. A D. New York, Co.’s Office.
do
do
Q.—M.
do
do
F. A A.
do
do
M. A N.
do
F. A A.
do
F. A A.
do
do
do
F. A A.
do
do
do
F. A A.
do
do
J. A J.
do
do
M. A 8.
do
do
J. A J.
do
do
Q.—F.
do
do
A. A G.
do
do
J. A J.
do
do
J. A J.
do
do
J. A D.
do
do
J. A D.
do
do
J. A J.
do
do
M. A N.
do
do
J. A D.
do
do
A. A O.
do
do
M. A S.
do
do
A. A O.
do
do
M. A S.
do
do
M. A S.
do
A. A 0.
do

7

J.

7*3
7

7g.

7
7
5
6
3
-

Where Payable, and by , Stocks—Last

1%
7
7
7
7
7
7
7
7
7
7 •
7 g.
7
7

7 g.

Divid ind.

F.
J.
J.
J.
J.

•

•

•

1898
1891

Jan., 1902
1902
1903
1919

•

-

July 1, 1909*
De?. 26, 1879
Mar.

29,1880*
Aug. 1, 1885
Nov. 1, 1883.
Aug. 1, 1885*
Aug. 1, 1885
Aug. 1, 1885
Feb. 1, 1882
Jan.

483,604
385,971
801,694
1,750,000
112,329
74,066,074
$

15,404,261
12,279,483
41,349,500
291,208
3,531,538
711,365

49^,719

74,066,074

Less for

1.

1884

Sept. 1, 189a
Jan., 1888
1. 1915

Feb.

April 1, 1911
July 1, 1898
July 1, 1906
June 1, 1911
Dec.
Jan.
Nov.
Dec.
Oct.
June
Oct.

1, 1902

1,
1,
1,
1,
1,
1,
Sept. 1,
Sept. 1,
Oct. 1,
July

A J.

1887
1907
1916

1900
1917
1908
1908
1908
1929

1. 1903

$1,160,315

Proprietary roads—Gross earnings

GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAH.

1877.

Bonds—PriuoiYY llCll U UU«

When

Rate per

$1,315,000

1861
1872
1872
1873
1879
1879

2,154
2,154

Railroad,equipm’t,Ac 56,277,227 56,886,833

Outstanding

130
75
85
160
212

Chicago <£ Northwestern—Common stock
Preferred st’ck

**

23

INTEREST OR DIVIDENDS.
Amount

235

Milwaukee & Western
{ but maj
St. P.A C.lst M.(Riv.Div.) $ A £(conv.) > be reg.bj
1st mortgage, Hastings A Dakota
endorselst mortgage, Chicago A Mil. line
J ment.
Bonds for Davenport A Northwest RR

1876.

BONDS.

AND

flavor by giving immediate notice of any error discovered in these Tables.

DESCRIPTION.
on

STOCKS

RAILROAD

April, 1880. J

$4,370,829

operating expenses, taxes, interest and sinking fund

Combined net profits

2,083,201
$2,287,627

:

The net sum of $4,342,772 remained to the credit of income on the 31st
of May, 1879, after deducting the dividends on common and preferred
stocks declared June 3, 1879.
The company has a land grant and the summaiy of the Commissioners*

report showed that in 1878-9 73,386 acres were disposed of for $269,860,.
an average of $3 67 per acre.
The lands on hand May 31, 1879, and the.
general condition of the department are shown in the following:
Remaining Total of out-

during the unconveyed,
May 31/78.
year.
May 31,1879.
Acres.
Acres.
Acres. 1

Name of

grant.

Minn’ta
Mieh’n.

Lands not
Deeded
On hand

.1,151,312*38

.

deeded

or

standing

contracted

contracts,

to be sold.

Acres.

Acres.

8,752*92 1,142,559*46 107,501*58 1,035,057*8^
580,922*30*
602,170*68 21,248*38

613,998*30 11,827*62

Menomi¬

nee Riv.
Wiscon.
.

94,216*18
358,192*06

480*00
3,662*44

93,736*18
354,529*62

416*70

93,736*18.
354,112*92*

—(V. 28, p. 97,120, 148,301,378,398, 428, 453, 502, 503, 543,580,
624; V. 29, p. 95, 170,197, 251, 328, 356, 433, 511,602, 631, 657; V. 30, Total
2,217,718*92 24,722*98 2,192,995*94 129,166*66 2,063,829*28.
p. 116, 144, 191, 322, 356, 384, 394, 406, 408.)
The following table will show the total miles operated (including pro¬
Chicago dt N rthwestern— In February, 1880, the total miles operated prietary roads) the gross earnings, net earnings, surplus above annual
were 2,389.
At the end of the fiscal year, May 31, 1879, the mileage was
made up in the annual report as follows: Wisconsin Division,*320 miles; charges and dividends paid, in each fiscal year since 1871-2:
Surplus
Galena Division, 313 miles; Iowa Division, 425 miles; MadiSon Division
over
Dividend*
and Extension, 227 miles; Peninsula Division,. 247 miles; Milwaukee
Gross
Net
interest,
paid.
Division, 85 miles; total Chicago A Northwestern Railway, 1,617
Miles.
Years.
Earnings.
Revenue,
rentals, dice. pref. com.
miles. Proprietary roads: Winona A 8t. Peter Railroad and branches,
7
406 miles; Iowa Midland Railway, 69 miles; Northwestern Union Rail¬ 1871-72.... 1,215
$11,402,161 $4,592,136 $2,618,325
3%
1,868,628
way, 63 miles: to al proprietary roads, 538 miles. Total Mileage, May 1872-73..,. 1,706
13,775,555
4,848,475
31,1879, 2,155 miles. The Chicago 8t Paul A Fond-du-Lac Railroad, 1873-74,... 1,923
15,631,936
5,432,194
1,355,082
which was a consolidation of several roads, was sold in foreclosure June
13,786,302
5,005,036
518,267
1,990
2d, 1859, and the Chicago A North western Railway was organized as
5,739,442
1,179,719
14,013,732
1,992
its successor, with a mileage then of 193 miles, not all complete. In 1876-77... 1,993
1,078,227
2% ....
13,033,102
5,507,001
1864 the company absorbed the Dixon Rockford A Kenosha, the Galena 1877-78.... 2,037
14,751,062
7,130,117
2,464,488
7
3
A Chicago Union and the Peninsula Railroad of Michigan. In 1878 the 1878-79.,..
2,287,627
7
2
2,129
14,580,921
6,873,272
Lacrosse Trempcleau Ac Prescott Railroad was also consolidated. The
For the half-year ending November 30,1879, the income account waa

Sregress of the company in mileage, trafilc, earnings, to theis best shown
tne comparative tables below. All the bonds prior Ac., consolidated
l

mortgage sinking fund bonds may bo replaced by the latter issue as they

as

follows:

1879.

$9,205,232

Gross earnings
Operating expenses

1878.

$7,932,838
3,892,633

are retired and canceled.
Quarterly dividends were commenced on the
and taxes. J
4,228,418
preferred stock in February, 1879. The sinking fund bonds of 1879 are
secured by a deposit of mortgage bouds, on the new roads acquired,
Net earnings
$4,976,813
$4,040,204
at the rate of $15,000 per mile, and the deed under which these
Deduct interest on bonds, sinking funds and
are issued, as published in V. 29, p. 277, sets forth that this comp tny
rent leased roads
2,524,889
2,425,794
issues its “sinking fund bonds of 1879, amounting in the aggregjute to a sum not exceeding fifteen millions of dollars, to be issued in
Net profits six months
$2,451,924
$1,614,410
amounts not exceeding fifteen thousand dollars per mile of railroad for
each aud every mile of additional railroad, as the same shall be actually —(V. 27, p, 140, 170, 372, 426, 603, 628; V. 29, p. 119, 168,197, 225,
constructed or acquired.” The prices of stock and earnings monthly 277, 357, 408, 608, 656.)
have been as follows :
Chicago <t Pacific.—Chicago to Byron, ILL, 88 miles. Went into receiv¬
Prices of Stock.
. Monthly Earnings.
er’s hands May 27, 1876, and sold in foreclosure May 1, 1879.
It
Common.
Preferred.
1879.
1880.
is reported that the Chicago Milwaukee & St. Paul will get control of it.
1879.
1880.
1879.
1880.
$
$
At tne annual meeting of stockholders in Chicago the earnings and
Jan. 6530- 49% 92%- 89
88%- 76% 107%-104% 1008,321 115 4,632 expenses for several years were reported as follows:
Feb. 64%- 56% 93 %- 88% 91%- 83% 107%-104
• 889,623 1131,683
Net
Gross
Mar. 60%- 51% 97 -91% 89 - 83% 110%-106% 1107,042 1395,000
97 - 91%
Earnings.
Expenses.
Earnings.
/

Apr. 63 %May 64%J’ne. 67%July 74 %Aug. 80%Sept 84 -

*

■> /

/

57%
58%
62%
63%

72%

75%
Oct,. 90%- 82%
Nov. 94 %- 84
Dec 92%- 85%

-

-

-

92%95%98 %99 %99 %102 104%-

96

-

97%

-

1128,894
1433,365
1393,087
1314,231
1326,957
1716,409

99%

-

1890,073

87%

89%
94%
94%

-

-

-101%
1558,476
106%-102
1325,895
An abstract of the last annual report was published in the Chronicle,
V. 29, p. 169, showing the following income account:
108

$151,144
$34,890
115,059
74,281
1877
135,592
43,297
1876*"*
137,745
38,783
74,269 *
42,298
1875"..."
!
The solicitor of the company reported; “All the property of the com¬
pany was on the 1st day 01 May, 1879, sold to a committee of bond¬
holders for the sum of $916,100, subject to the right of the company to
1879

1.878*

$186,034
189,341
178,897
176,528
116,567

redeem at any time within one year thereafter, and to the right of the
judgment creditors to redeem for three months next following the expira¬
The gross earnings of the Chicago & Northwestern Railway
tion of the twelve months given the company to redeem.”
(V. 30,
ana leased roads, exclusive of proprietary lines, were
$13,420,605 168, 191, 298, 322.)
The operating expenses were (4687100 percent). $6,289,925
Chicago <£ Paducah.—Streator, Ill., to Effingham, Ill., 156
313,868- 6,603,794
Taxes
$6,816,811 Sliuinway to Altamont, 8% miles; total, 164% miles. Organized
1874. Defaulted, and receiver
luted Mar
Add amount received, balance of interest and exchange
21,012 22, 1872, and opened in in foreclosure January 21,1880, appt ordered ta>
28,1877. Final decree
and
Net receipts
$6,837,823 be sold after 60 days’ notice. It is to be purchased by the Wabash, and
Deduct int. on bonds and prem. on gold coupons.$2,318,458
connected with the Strawn A Chicago Railroad (95 miles), v
Rent of Chicago Iowa & Nebraska Railroad
495,104
completed November 15,1879, and in the mean time is leiu»ed to Wabatfh
Rent of Cedar Rapids A Mo. River Railroad
706,567
under order of the court Gross earnings hi 1877-78, $?6^»623; net
Rent of Maple River Railroad
24,060
earnings, $27,967. Capital stock, $4,099,700, and funded debt, $2,961,
Sinking funds
83,120— 3,627,310 000. Debt and interest fixed bv court at $3,710,509. (V. 28, P* 617; Y,
Net income
$3,210,513 29, p. 328; Y. 30, p, 91,143,384.)




March

RAILROAD ' STOCKS

24
Subscribers will confer

a

AND

BOKDS.

great favor by giving immediate notice of any error discovered In these Tables*

DESCRIPTION.

Miles

on

first page

Date
of
of
Road. Bonds

of tables.

Chicago Teh in d Southwestern— 1st mortgage.

70
64

2d mortgage

Chicago Rock Island d Pacific—Stock
1st mortgage (for

1874-956

$12,500^000)

coup, or reg.

636
271

do

mortgage,
do

do

Chicago St.Paul dMinneapolis—1st mort., g.,coup.*
Land grant mort., income, coup. (2d on road)
Chicago d West Michigan—Stock, new
1st mortgage, New Buff, to St. Jo
Cincinnati Hamilton d Dayton—Stock
1st mortgage of 1853
2d
do
1865
Consol, mort. (for $3,000,000), sink, fund 1 p. c..
Cin. Ham. & I. (Junction) RR., 1st mort., guar...
Cin. Ind. St. L. d Chic.—Ind. & Cin. of 1858, 1st M
,

mortgage..

Equipment bonds, registered

Cin. A Ind., 1st mortgage
do 2d M., guar. ($1,000,000 due ’77 ext. to ’92)
1st mort., Cin. Ind. St. L. A Chic, (for $7,500,000)
Cincinnati Lafayette d Chicago—1st mort., gold—
Consolidated mortgage
Cincinnati d Muskingum Valley—1st mortgage—

.

•

»

-

1877
1869

1860
1854
1865
1877
1877
1878
1878

1,000Ac
100 Ac.
....

1,000
1,000
....

500 Ac.
100 Ac.

1,000
1,000

....

....

1869
60
60
60
98
90
151

1853

1,000
1,000
1,000

...

1,000

500Ac.

20
20
194
56
56

1862

1,000

1867
1880
1871
1874

1,000

148

1870

l’ooo

1,000

1,000

Chartered in 1859 and opened in 1876.

Receiver appointed in
May, 1877. Sold under foreclosure June 30, 1879. Still in hands of
receiver. Gross earnings in 1877-78, $243,423; net earnings, $93,399.
Capital stock (July 1, 1878), commou, $788,000, and 7 per cent pre¬
ferred, $38,000; funded debt, $1,000,000, and floating debt, $262,984.
Construction and equipment, $2,065,704. (V. 28, p. 41, 68, 199; V. 29,

.

e

7
8
7
6 •
6 g.
6 g.

3,057,000

7,253,000
2,800,000
2,018,000

996,000

500 Ac.

1,000

.

1,846,000
1,600,000
2,800,000
353,000

499,000
1,497,000

1,120,000
830,000
1,500,000

Bonds—Princi¬

pal,When Due.
Payable, and by

Stocks—Last
Dividend.

Whom.

Y., Farm.. L. A T. Co.

Aug. 1, 1901

New York, Co.’s Office.

May 2, 1880
July 1, 1917

1891
do
do
do

do
do
do

Nov., 1890
May 1, 1880
J. A J. New York, Co.’s Office.
July 1, 1886
A. A O.
do
do
Oct. 1, 1890
F. A A.
do
do
Aug. 1, 1885
M. A N.
do
do
Nov., ’80 & ’84
F. A A.
do
do
Nov. 1, 1886
M. A N.
do
do
Nov. 1, 1897
J. A D.
do
do
Dec. 1, 1907
M. A N.
New York, at Office.
May 1, 1918
M. A N.
do
do
May, 1898

Q.-F.

8
8
.

Where

J. A J.
M. A N.

2

1,500,000
500,000
373,500
1,997,000

477,000
3,500,000
1,245,000
494,000

100
1865
1875
1873
1858
1867
1873

Q-F.

6,500,000

1,000

60

5,000,000
2,941,000

When

Payable

F. A A. N.
A. A O.

8
8
2
6
7

9,965,000
5,000,000

1874-956

500 Ac.
500 Ac.

Chicago Pekin d Soulhicestern.—Pekin, Ill., to Mazin Bridge, Ill., 94

miles.

1188772--39465..

20.980,000

....

567
180
180

Indianapolis Cincinnati A Lafaj'ette

300.000

100

Rate per
Cent.

$700,000

....

2d mort. (for $8,000,000)..

Outstanding

1,000

1856

185
567

Yalue.

Amount

$1,000

«...

($500,000 disputes,

Chic. St. Louis A N. O. 1st mort. (for $13,000,000)

or
Par

1871

206
224

185

INTEREST OR DIVIDENDS.

Size,

1871

1,043

Iowa South. A Missouri North. RR. stock
Chic. St. Loiiis d N. O.—1st M. (N. O. J. & G. N.)..
2d mortgage, (N. O. J. & G. N.)
Funded coupon bonds
1st mortgage, (Miss. Central)
2d

Vol XXX.

...

8

3*2
7
7
6 A 7
7
7
7
10
7
7

M. A S. Bost., Treasurer’s office.
A. A O. N. Y., Winslow, L. A Co.
M. A N.
do
do
J. A J.
do
do
A. A O.
do
do
J. A J.
do
do
A. A 0. N. Y., Amer. Ex. Eauk.
F. A A.
do
do
M. A S.
do
do
J. A D.
do
do
J. A J
do
do

Sept. 1889
4.pril 10,1880
May 1, 1880
July 20,1885
Oct., 1905
Jan., 1903
April, 1888
Feb., 1897

Sept. 1, 1883
Dec., 1892

’

7*g. m.'a's.

7 g.
7

J.

J.

N. Y., J.S.Kennedy A Co.
A J.
do
do
A J. New York, Moran Bros.

Mch., 1901
Nov.

1. 1914

Jan., 1901

has 341 miles; each lease reported separately. Chartered in 1846 and
road opened in 1848. Defaulted on guaranteed C. H. A Ind. interest in
1877. Settlement by arbitration made as per Chronicle, V. 30, p.
116,

by which interest is to be paid hereafter and past-due coupons are
A dividend was paid as above April,
reported the Clev. Col. Cin. A Ind. com¬
pany purchased a majority of the C. II. A D. stock.
p. 328; V. 30, p. 14.)
Gross
Net
^-Paym’ts from Net Earn’gs-s Balance
Chicago Rock Island d Pacific.—Chicago, Ill., to Council Bluffs, Iowa, Years.
Earnings.
Earnings.
Taxes.
Interest.
Credit.
500 miles; branches to Harbor, Calumet River, Ac., 9 miles; Wilton,
$1,204,866 $495,373
$18,878
$144,990
$21,504
Iowa, to Knoxville, Iowa, 128 miles; leased roads—Peoria A Bureau
1,171,998
479,203
56,440
154,430
248,333
Valley, 47 miles; Indianola & Winterset branches, 48 miles; Iowa
1,128,355
521,770
55,873
158,563
^)7,334
Southern & North Missouri Railway, Washington, Iowa, to Leaven¬
1,147,753
470,176
53,044
162,430
*54,702
worth, Kan., 271 miles; total operated, 1,003 miles. The company also
946,921
•
312,749
48,900
185,640
78,209
leases the Keokuk & Des Moines Railroad, 162 miles, and in February,
936,433
374,468
47,999
207,544
118,925
1880, the Kansas A Cameron line of Han. & St. Joseph. This company
907,211
369,350
36,707
191,450
141,163
includes by consolidation the Mississippi A Missouri Railroad of Iowa,
Earnings for five years past were as follows, including all the roads
which was foreclosed under mortgage in 1866. The Illinois and Iowa
roads were consolidated August 22, 1866, under the present title, and operated;
Years.
Miles.
Gross Earnings.
Net Earnings.
the main line was extended to Council Bluffs June, 1869. The Iowa
341
$2,818,116
$1,044,362
Southern A Missouri Northern was formerly the Chicago & Southwest¬
341
2,875,774
969,836
ern, and was foreclosed and purchased by this company, which vir¬
341
2,431,874
680,398
tually owns the road and pays to its own stockholders (Chicago 1-877-8
341
2,362,892
888,349
Rock Island & Pacific) 2 per cent quarterly on that stock, which makes
1878-9
341
2,282,572
841,169
their quarterly dividends really amount to 2*2 per cent, or 10 per cent
Gross earnings (all lines, 341 miles) for 1878-79, $2,282,572net
per annum. A consolidation with $50,000,000 stock is to be voted on
Payments—Taxes, $101,598; interest, $447,030;
June 2 (see V. 30, p. 356.) The fiscal year ends March 31, and the mile¬ earnings, $841,169.
dividends (D. A M.), $134,869; total, $683,497. (V. 28, p. 68,302, 525,
age, earnings, Ac., have been as follows for five years past:
Gross
Net
Div. 624; V. 29, p. 15, 197; V. 30, p. 116, 322.)
Years.
Miles.
Cincinnati Indianapolis St. Louis d Chicago.—The, Indianapolis Cin¬
Earnings.
Earnings.
p. ct.
674*2
$7,388,635
$3,532,305
8 cinnati A Lafayette. RR., extended from Lafayette, Ind.. to Ohio State
677*4
7,342,190
3,687,029
8 Line, 158 miles; branches, 8 miles; leased: Cincinnati A Indiana Rail¬
707
6,917,657
3,349,364
8 road, 21 miles; Harrison Branch Railroad, 7 miles; total operated, 194
1,003
7,895,870
3,511,356
8 miles. It was a consolidation in 1876 of the Indianapolis A Cincin¬
1,231
9,409,833
4,329,960
8 nati and the Lafayette A Indianapolis railroads, the company
taking a
The last annual report was published in the Chronicle, V. 29, p. 15. The perpetual lease of the Cincinnati A Indiana Railroad. From October
26,
company has a land grant, with about 300,000 acres unsold March 31, 1870, to July TO, 1873, the property was in the hands of a receiver, and
1879. in 1878-9, 21,348 acres were sold for $183,454—an average of bondholders made concessions by funding.
On August 1, 1876, a
$8 59 per acre. (V. 28, p. 502 ; V. 29, p. 15,489, 608, 631; V. 30, p. 221, receiver again was appointed, and the road was sold in foreclosure
Feb. 2, 1880, and this company organized. The new
356.)
compauy, when
Chicago St. Louis d New Orleans.—New Orleans, La., to Cairo, Ill., 549 all its securities aro issued, will have a funded debt of $7,500,000 first
miles; branch: Kosciusko Junction, Miss., to Kosciusko, Miss., 18 miles; consolidated 6 per cent bonds, due in 1919, to be secured on the entire
operated under lease, 5 miles; total, 572 miles. This company was property, and $4,000,000 in capital stock. Of the $7,500,000 new bonds
formed November 8, 1877, by the consolidation of the New Orleans to be issued, $6,885,000 is reserved, into which all of the old
bonds, prior
Jackson A Gt. Northern and the Central Mississippi. The N. O. J. A G. N. to the Indianapolis Cincinnati A Lafayette 7s of 1869,
may be exchanged
road had been sold in foreclosure March 17,1877, and the Mississippi
at their par value, leaving a surplus of $615,000 in new bonds. The
Central was sold August 23, 1877. This company has been largely other securities were: Indianapolis Cincinnati A
Lafayette 7s of 1869,
assisted by the Illinois Central, which holds 61,000 shares of the stdek, $2,087,750; I. C. A L. funding debt 7s (in which is included the: old
pre¬
$5,023,000 of the second ferred stock), $1,419,300, and the common stock, $5,587,150. These
$1,600,000 of the first mortgage bonds and
mortgage bonds. The stock will be increased 13,364 shares April, 1880. securities were provided for as follows: The 7s of 1869 received 70
Of the first mortgage bonds, $1,199,000 are a prior lien on that por¬ per cent of their face in new stock, and the funddd debt
7s, or pre¬
tion of the road in Tennessee. Of the Mississippi Central second mort¬ ferred stock, 40 per cent. This left a balance of new stock of
$2,029,045,
gage, $500,000 are claimed to have been paid and are disputed by the which, with the balance of new bonds, $615,000, was offered as fol¬
present company. Earnings and expenses for two years past have been lows: To the 7s of 1869, 10 per cent in bonds and 30 per cent in stock
as follows, viz.: Gross earnings in 1877, $3,100,595, net earnings, $887,for 10 per cent cash; to the funded debt 7s, 20 per cent bonds and 60
667; in 1878, gross earnings, $2,819,018, net earnings, $818,723. (V. per cent in stock for 20 per cent cash; to the common stock, 2 per cent
bonds and 6 per cent in stock for 2 per cent cash. Operations and earn¬
28, p. 277, 502; V. 29, p. 406; V. 30, p. 248.)
Chicago St. Paul d Minneajwlis.—Elroy, Wis., to St. Croix Lake, Wis., ings for five years past were as follows:
177 miles; and reaches St. Paul over the St. Paid Stillwater A Taylor’s
Passenger. Freight (ton)
Gross
Net
Falls (leased), 24 miles.
Chartered as West Wisconsin in 1863 and Years.
Miles.
Mileage.
Mileage. .
Earnings. Earnings.
194
opened in December, 1872. Defaulted January 1, 1875; sold March
.24,055,103
52,677,120 $1,767,231
$670,980
1, 1878 ; reorganization May 9, 1878.
194
Gross earnings in 1878-79,
22,113,531
52,465,909
1,637,061
673,098
194
$1,070,203; net earnings, $375,908. Interest liability, $302,590 per
19,244,431
38,803,669
1,311,210
490,810
annum.
Balance to credit after interest, $73,318.
194
Capital stock,
18,971,743
41,000,163
1,309,087
494,388
common, $4,000,000, and preferred, $1,000,000; debt certificates (based
194
1,342,701
\ 507,920
on West Wisconsin land contracts), $499,830, and floating debt, $416,—(V. 27, p. 172, 303, 354, 383; Y. 28, p. 302, 401, 526; V. 29, p. 18,
572; total liabilities, $10,959,902. In March, 1880, some sort of arrange¬ 95, 277, 302, 405, 432, 459, 538, 563, 680; V. 30, p. 168, 192.)
ment for consolidation was made with the Sioux City & St, Paul.
Cincinnati Lafayette d
to Templeton,
Terms not transpired.
(See under that company.) Company’s lands 56 miles. Consolidation in Chicago.—Kankakee, Ill., Indiana and Ind.,
1871 of the Kankakee A
the C.
free from taxes until 1884. The first mortgage is a second on the lands;
L. A C. railroads, and opened through August 25,1872.
Use the Lake
the land mortgage a second on road; but no foreclosure can be had
Erie A Western between Templeton and Lafayette (19 miles),
making
except on default on first mortgage. The. lands mortgaged are about the
operative length 75 miles. Sold to receiver of the Cincinnati Lafav500,000 acres, and the total lands owned considerably more. (V. 28, ette A Chicago in October, 1879.
Gross earnings in 1878, $419,491; in
p. 502.)
1879, $388,896. Net earnings, $1878, $130,912; in 1879, $100,262.
Chicago d West Mich igan.—New Buffalo, Michigan, to Pentwater, Mich., Interest liability, $132,860 a year. No interest paid on second mort¬
170 miles, with branches to Grand Rapids (24 miles) and to
Big Rapids gage bonds. Capital stock—common, $68,200, preferred, $1,861,000.
<51 miles); total, 245 miles. Organized as successors of, Chicago & Floating debt, December 31,1879 (including coupons unpaid, $257,765),
Michigan Lake Shore January 1, 1879, the C. & M. L. S. having been $423,215. Cost of road and equipment, $3,900,569. (Y. 30, p. 356.)
sold in foreclosure November 16, 1878.
The stock is $6,500,000.
Cincinnati d.
Original company organized in 1869 and main lino opened in 1872. O., 148 miles. Muskingum Valley.—Morrow, O., to Dresden Junction,
Chartered as Cinn. Wilmington A Zanes. in 1851 and
Default July 1, 1873, and receivership from November 11, 1876, to
date of reorganization. Earnings in 1879, $654,383, and expenses, opened in 1857. Sold under foreclosure October 17,1863, and reorgan¬
ized as Cincinnati A Zanesville March .11,1864. Sold again December
$541,556; profits, $112,826; interest paid, $37,359, and expended for
10,1869, and reorganized as at present. Leased for 99 years from Jan¬
construction and equipment, $97,336. (V. 27, p. 227, 538; V. 30, p.
uary 1, 1873, to P. C. A St. Louis, lessees to pay all expenses and inter¬
270.)
est, an/ excess of earnings to inure to the lessors. Gross earnings in
Cincinnati Hamilton d Dayton— Cincinnati, O., to Dayton, O., 60 1879, $374,666; net earnings, $110,142. Interest paid,
$105,000. Sur¬
miles. Including leased lines, the Cincinnati Hamilton A Dayton system plus, $5,142. Capital stock, $3,997,320.
(V. 30, p. 382.)




funded into preferred stock.
1880.
In March, 1880, it was

•

„

RAILROAD

April, 1880. J
Subscribers will confer

a

Miles

of
explanation of column headings, &c., see notes
Road.
on first page of tables.

36
36
90
40
188

Cin. Richmond d Chic—1st mort., guar. C. H. AD,.
2d mortgage, guar, and owned by C. H. A D.....
Cin. Richmond d Ft. IF.—1st mort., gold, guar.!
Cincinnati Rockport d Southwestern—1st mortgage
Cincinnati Sandusky d Cleveland—Stock
Preferred stock

Date

....

....

....

80
48
114
471
138
202
390
390
80

2d mortgage
‘
—
Cin. Wab. d Mich—1st mortgage
Cleveland Columbus Cincinnati d Ind.—Stock
1st mortgage (C. C. A 0. RR.) $25,000 a year
do
(Bel. & Ind.) excli. for new mort...
do
C., C., C. & I. sinking fund

of
Bonds

1866
1869
1871
1878

Amount

par

Outstanding

Value.

1,000

....

1866
1852
1867
1871
1872
1871

..

1st mortgage, extended
New bonds
Niles & New Lisbon, 1st

67

.

mortgage
Cleveland ML Vernon d Del— 1st mortgage, gold—
1st mortgage, Columbus Extension
Income mortgage

Cleveland d Pittsburgh—Guaranteed stock
4th mortgage (now 1st)
Consolidated sinking fund mort. for $5,000,000..
Construction and equipment bonds
Cleveland Tuscarawas Val.d Wheeling—1st M., old.
1st mortgage, new
2d mortgage, new

67
35

145
„

.

.

.

.

/.

225
199

199

....

....

1,000
1,000
1,000

2,000,000
651,000

1,824,000
14,991,800

100
500

1,000

1,000

125,000
408,000
3,000,000

1874

1,000

2,804,000

50
500 Ac.
500 Ac.
500 Ac

2,759,200
630,000

1,000

1,350,000

1,000

950,000
669,000

....

1873
1876
1870
1870
1871
1875
....

500 &c.
50

ldi

.

11,244,036
1,104,844
2,651,000
1,298,000
2,180,000

1,000
1,000
1,000
1,000

1862
1867
1873
.

500,000

is

Cincinnati Richmond d Chicago.—Hamilton, 0.,to

1868

100 Ac.

Indiana State Line,

36, and Richmond A Miami Railroad (leased), G; total, 42 miles. Char¬
tered as Eaton & Hamilton in 1847 and opened in 1863. Reorganized
May 3, 1866, and leased in perpetuity from February, 1869, to C. II. &
D. Co., the lessors to receive all surplus after expenses and bond interest.
Gross earnings in 1878-79, $188,448; traffic deficit, $9,738; interest

liability, $43,750; total deficit, $53,488. Capital stock, $382,000 ; funded
debt, $625,000; total (cost of property)* $1,007,000. (V. 29, p. 15.1
Cincinnati Richmond d Fort Wayne.—Richmond Junction,
Fort Wayne Junction, Ind., 83 miles. Uses about 7*2 miles of

Ind., to
connect¬
ing roads to reach Richmond A Fort Wayne. Chartered in 1853 and
opened in 1866. Leased for 99 years to Grand Rapids & Indiana; in¬
terest is guaranteed by the lessees and by tbe Pennsylvania Company
and Cincinnati Hamilton & Dayton Company, jointly. Earnings in 1878,
$304,511; net earnings, $88,748.
Interest on first mortgage bonds,
$127,302, and on advances of guarantors, $27,842; total interest lia¬
bility, $155,144. Loss to guarantors, $66,395. Capital stock, $2,500,000;

Rockport d

Cin¬
'

Southwestern.—Rockport, Ind., to Jasper,

Ind., 40 miles. Chartered in 1871 and road opened 4n 1878. Gross
earnings in 1878, $19,873; net, $7,634. Capital stock, $400,000.
Cincinnati Sandusky d Cleveland— Sandusky, O., to Dayton, O., 154
miles, and Carey to Findlay, 16 miles; total, 170 miles. Columbus

&
&
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A

_

June. 1921
Jan. 1, 1908
1872

May 1, 1880
Aug. 1, 1900
Sept. 1, 1897
Dec. 1, 1890

April 1, 1901
1902

July 1, 1891
Feb. 1, 1880
June,’75 to ’84
Until 1899

May, 1899
June 1,1914
0)
Aug. 1, 1893
Sept., 1906
Jan., 1890
Jan. 1, 1900
Jan. 1, 1901
Jan. 1, 1905
Mar. 1, 1880
Jan., 1892
Nov. 1, 1900
Jan. 1, 1913

6

J.

_

A D.

1876.

1877/

1878.

1879.

982,748

149,420

$
745,203
102,696

664,011

847,899

1,086,410

$
420,087
140,020

$
425,180

Rentals, interest, Ac.
Total income

874,891

,.$

.

$

428,383
171,974

426,878
175,232

2,319

103,744

Disbursements—

debt

Taxes

.

$
83,912

117.014

374,770
47,864

Dividend No. 15
Accounts

*

charged off.

1898

Chronicle, V. 30, p. 355

•$
514,591

Net earnings

June 1,

Phila., Co.’s Office.

$
693,446
181,445

and debt (representing property

cost), $4,300,000. Total advanced by guarantors, $505,636. The
cinnati Hamilton A Dayton Company is m default. (V. 29, p. 299.)

Jul3r, 1895
1, 1889

Jan.

c

Receipts—

on

Stocks—Last
Dividend.

Boston, Office.
M.
F.
M.
J.

The last annual report was published in the
Income account for four years was as folloAvs:

Interest

pal,When Due.

Payable and by
Whom.

J. & J. N. Y., Winslow, L. A Co.
do
do
J. & J.
J. A D. N.Y., Winslow, L. A Co.
J. & J.
Boston, Pacific Bank.

?«•

1,397,000
600,000

....

Where

do
do
N.
do
do
A.
do
do
S.
D. N. Y., Union Trust Co.
N. Y„ U. S. Trust Co.
A.
O.
do
do
J.
J.
J.
J.
Wabash, Indiana.
N. Y., U. S. Trust Co.
F.
A.
2j2
7
do
do
J.
D.
do
do
7
J.
J.
do
do
7
M.
N.
7 or 6 g. J.
D. New York or London.
M.
N.
3^
Cleveland, Office.
N. Y., Ward, C. A Co.
F.
A.
M.
S.
7
J.
J. N, Y., Union Trust Co.
7 g.’ J.
J. N. Y., Winslow, L. A Co.
do
do
7 g.
do
do
7
M. A S.
1%
Q.-M. N. Y., Farm. L. A T. Co.
do
do
6
J. A J.
do
do
7
M. A N.
do
do
7
J. A J.
7
Cleveland, Ohio.

579,000

....

.

7
7
7 g.
G g.
10s.
3
6
7
7
7
7
7 g.

Bonds—Princl -

OR DIVIDENDS.

Pay’ble

429,037
750,000
350,000
1.100,300

1860
1864
1869

.

Colebrookdale—1st mortgage

Cent.

4,005,750
'

....

....

When

65,000
1.800,000
266,500

1.000
500
50
50

....

Rate per

$560,000

$1,000

76781
Consol. M. for $7,500,000 (sink, fund 1 per ct.)
Cleveland & Mahoning Valley—Stock.

Cincinnati

25

INTEREST

Size, or

7918747-596. 81
5781
138

Mortgage bonds, Sandusky, Dayton A Cincinnati
do
Sandusky city A Ind
2d mort". Cine., Sandusky & Cleve
Cincinnati d Springfield—1st mortgage, guar

funded debt, $1,800,000; total stock

BONDS.

great favor by giving immediate notice of any error discovered In these Tables.

DESCRIPTION.
For

AND

STOCKS

*66,429

221,363
121,582
Balance, surplus.
272,215 def. 41,843
$21,675 discount on bonds, and in 1879 paid Wabash Pool.

In 1878

Operations and earnings for five years past were as follows,

earnings not excluding taxes:
Passenger
Miles.
Years.
Mileage.
1875
472
30,497,320
1876...
472
36,042,780
472
29,066,177
472
29,470,300

Freight (ton)
Mileage.
263,311,981
311,785,948
275,686,300
345,845,373

the net;

Gross

Net.

Earnings.
$3,774,217
3,676,458
3,434,356
3,528,714

Earnings.

$894,024

702,918
488,779
847,900
1,066,660

472
3,758,967
Of the Cincinnati Sandusky
Springfield & Dayton, 24 —(V. 28, p. 301; Y. 30, p. 248, 322, 355.)
miles, is leased to and operated by the Cleveland Columbus Cincinnati A
Cleveland d Mahoning Valley. -Cleveland, Ohio, to Pennsylvania State
Indianapolis. Operative length of Cincinnati Sandusky A Cleveland Rail¬
Line, 123 miles. Cuartered in 1848 and opened in 1851.
Leased to
road, 190 miles.
Atlantic & Great Western in perpetuity from October 1, 1861. The
Traffic Statistics.
-Lease Rentals.Available receiver of the Atlantic A Great Western refused to operate part (43
Gross
Net
miles) of the leased road, and at the present time only 80 miles are in his
Years.
Paid.
Revenue.
Reeeived.
Earnings.
Earnings.
hands. Payments on lease account in 1878, $274,372; distributed to
$70,024
$215,899
$787,671
$225,895
$80,000
205,044 bonds 7 per cent and to stock 8 per cent, through the intervention of a
71,186
81,124
791,891
234,983
109,950 lease trust, having its headquarters in London. Stock, $2,758,791, and
80,000
655,421
124,744
65,206

Springfield A Cincinnati (leased), 44 miles.

A Cleveland Railroad the division between

.

...

647,202
655,300

112,284
110,236

65,942
40,000

67,621
69,869

113,963
140,105

The rental received from Cleveland Columbus Cincinnati A Indianapolis
Railroad is 35 per cent of gross earnings, and that paid to Columbus
Springfield A Cincinnati Railroad Company (formerly $80,000 a year)
has been reduced one-half for three years. Preferred stock receives 6
per cent per annum.
Capital stock—common, $4,605,750, and preferred,

$429,035. The yearly interest charge, including sinking fund ($10,000)
and preferred dividends, is $225,479. Six coupons on 2d mortgage
bonds were funded from June, 1877. The preferred stock has a lien by
deposit of old bonds in trust. The receiver, after a three years’ posses¬
sion of the property, Avas discharged January 1S80.
(V. 28, p. 145; Y.
29, p. 197, 382, 406; V. 30, p. 144, 168, 192.)
Cincinnati d Springfield.—Dayton, O., to Ludlow Grove, O., 48, and C.
S. A C. RR., &c. (leased), 32; total, 80 miles. The Avliole is leased and
operated by Clev. Col. C. A Ind Co., giving them a line into Cincinnati,
and depot accommodation.
Lessees apply any excess over rentals to C.
& 8. interest, which is guaranteed on the first
mortgage, one-lialf by the
lessees and one-half by L. Shore A Mich. Southern. Stock is $1,100,000.
Cincinnati Wabash d Michigan.—Goshen, Ind., to Anderson, Ind., 110
miles. Road, as iioav existing, opened in May, 1876. Transferred to
trustees January 1, 1878, and. sold November 5, 1879, to said trustees,
for account of bondholders.
Capital stock (before sale), $1,450,000.
—(V. 29, p. 382.)
Cleveland Columbus Cincinnati <6 Indianapolis.—Cleveland, Ohio, to
Columbus, Ohio, 138 miles; Galion, Ohio, to Indianapolis, Ind., 203
miles; Delaware, Ohio, to Springfield, Ohio, 50 miles; leased, Cincin¬
nati A Springfield Railroad, 80 miles; total owned and leased, 471 iniles.
This was a consolidation in April, 1868, embracing the C. C. A C. and the
Bellefontaine railroads. The company paid dividends prior to 1875, but
since then the large decline in rates for through freight and the heavy
rentals paid reduced the company’s income so that no further dividends
were paid until 1880.
In March, 1880, it was reported this company
purchased a majority of the C. II. A D. stock. The prices of stock and
monthly earnings have been:
-Prices of Stock.
Monthly Earnings.
3 878.
1877.
1879.
1880.
1879.
1880.
Jan. 39
33*2 38i4- 34
4818- 3434 8II2- 77% $238,234 $315,536
Feb. 33
21
34
2734 46ie- 3912 825s- 75
254,232 309,115
Mar. 27V 24*2 307s- 27
44
40
8OI4- 77
233,780 302,787
1912 32 %- 2534 48%- 4012
Apr. 27
230,866
25
2914- 2512 55
May 33
443s
264,482
22
J’ne. 24
33
2414 5318- 48
267,894
25
23*2 27
5312- 50
July 27
312,705
35
24 *2 28 Li- 23
55
Aug.
48*8
366,629
Sept 4112- 3112 34 34- 28
595s- 50i8
413,436
Oct.. 49 %- 3712 33
56
29% 71
426,629
Nov. 421s- 35
3378- 30
8512- 70
369,646
Dec. 39
317s 3412- 3112 83 - 75
380,428




-

-

-

.

-

-

-

-

-

-

-

-

-

-

bonds, $1,967,600.

Cleveland Mount Vernon d Delaware — Hudson, Ohio, to Columbus,
Ohio, 144 miles, and Massillon A Cleveland Railroad (leased), 12 miles;
total, 156 miles. Opened to Millersburg from Hudson (61 miles) in 1853.
This road has undergone several transfers. It was completed in its
present proportions in 1873. Annual liabilities—Rental, $20,000, and
bond interest (7s, $2,300,000), $161,000.
This amount is demanded
from the Pennsylvania Co. (lessees), but a readjustment
the lessees. Default was made July, 1874, and coupons
one-half of coupons from Jan. 1, 1875, to and including
were

is claimed by

due then and
July 1, 18J7,

postponed to Jan. 1, 1885, and the remaining half to be paid;

but this failed July, 1877, and negotiations have never been concluded.
Net earnings for five years past were as follows: 1875, $96,667; 1876,

$63,533; 1877, $81,725; 1878, $64,971; 1879, 27,061.
V. 30, p. 271.)

(V. 28, p. 400 ;

Cleveland d Pittsburg.—Cleveland, O., to Rochester, Pa., 124, with
branches to New Philadelphia, 33, and to Bellaire, 43 ; total owned, 200
miles: add P. F. W. A C. RR. (leased), 26 miles; total operated line,
226 miles. The property Avas leased for 999 years from December 1,

*

1871, to Pennsylvania Railroad Co., and lease

transferred to Pennsyl¬

vania Company May 1,1872. Rental, 7 per cent on existing capital and
$10,000 per year for company expenses, the lessees assuming all liabili¬
ties. The terms of the lease were 10 per cent, but the old stock was

subsequently converted into 7 per cent by an increase in amount.
Operations and earnings for five years past Avere as follows:
Div.
Net
Freight (ton)
Gross
Passenger
p.c.
Years.
Miles.
Mileage.
Earnings. Earninf
Mileage.
226
226
226
226
226

17,611,298
19,844,913
15,640,607

14,853,524

116,819,297 $2,629,037 $1,243,627
890,582
2,282,030
108,664,100
1,039,172
2,330,834
133,991,706
966,112
2,272,167
143,114,623

2,609,593

1,342,858

7
7
7
7

7

-(V. 28, p. 41, 300.)
Cleveland Tuscarawas Valley d Wheeling.—Black River, O., to Urichsville, Ohio, 101 miles. Chartered as Lake Shore & Tuscarawas Valley in
1870 and opened in 1873. Sold under foreclosure January 26,1875,

and reorganized under present title. Is being extended to Wheeling,
57 miles. Gross earnings in 1878, $474,525; in 1879, $446,749. Net

Interest liability, $244,~
(V. 30, p. 272, 297.)
Colebrookedale.—Pottstown, Pa., to Barto, Pa., 13 miles. Chartered in
1865 and opened in 1869. Leased for 20 years from January 1,1870,
to Philadelphia & Reading, at 30 per cent of gross earnings. Gross
earnings in 1879, $30,544; net earnings (30 per cent rental), $9,163.
Payments—interest, $36,000, and other, $305. Capital stock, $297,215;
funded debt, $600,000, and floating debt, $54,432; total liabilities,
$926,087. Construction ($52,146 per mile), $667,774, and profit and
earnings in 1878, $114,462; in 1879, $162,319.
850 per annum.

loss, $288,784.

Capital stock, $1,955,950.

-

RAILROAD STOCKS

26
Subscribers will confer

a

first page

Miles Date Size, or
Par
of
of
Road. Bonds Value.

of tables.

76781
Colorado Central—1st mortgage, new
Columbia dk Port Deposit—1st mortgage
Columbus Chicago dk Indiana Central—Stock...
1st M. (consol.) Columbus, Chic. A Ind. Central..
do
Chic. & G’t East. (Chic, to Logansport;
do

78

588
588
117
208
93
61
102
107

guar, same

div.

100

....

1868
.

1,000

-

•

•

•

.

1870

.

.

—

76
13

89

45
118
55
55
141
71
41

1867
1870
1872
1871
1875

500 Ac.

1,000
1,000
1,000
1,000
50

1,000

1874

500 Ac.

50

100

.

38
38
56

Conn. A Pass.

•

•

•

100

1873
1871
.

.

1869

100 &c.
100 Ac.,
100

1,000

100

....

Colorado Central.-Golden, Col., to Cheyenne, Wy., 118 miles, and
Golden to Denver, 15 miles; total (standard gauge), 133 miles; and
Golden to Central City, 24*4 miles, and to Georgetown, 35 miles; total
3-foot, gauge, 59*4 miles. Aggregate, 192 *4 miles. Chartered in 1865,
and main line opened in 1870. It is largely owned by the Union Pacific.
The new mortgage bond was issued to take up the old 8 per cent bonds.
p.

269; V. 30, p. 168.)

Columbia dk Port Deposit.—Columbia, Pa., to Port Deposit, Md., 39
miles. Leased to and operated by Pennsylvania Railroad Co. Rental,
net

earnings.

Gross

eai

f22,210, and net debt
208,177; funded earnin
liabilities, $2,260,899.

•

1,786,200
302,000
1,500,000
500,000
350,000
325,000
2,175,700
1,409,500
123,000
400,000
400,000

•

.

•

7
7
7
7

2*5
_

2,100,000

Stocks—Last
Dividend.

m

m

•

Aug. 1, 1892

m

•

•

April, 1908
N. Y., A. Iselin A Co.
do
do
do
do
do
do
do
do
do
do
do
do
do
do

N.

1893 A ’95

Nov., 1904
Dec., 1905
Feb., 1884
Dec., 1883
1886 to ’90

Nov., 1904

Feb., 1890
Y., A. Iselin A Co.

....

4
7

2,468,000

7
5
7

F. & A.
Feb. 10,1880
Columbus, Office.
A. A-O. N. Y., St. Nich. Nat. B’k Oct. 1, 1897
do
J. & J.
do
July 1, 1880
J. & J.
do
do
Jan. 1, 1892
M. A S. N. Y., Union Trust Co.
Sept. 1, 1901
F. A A.
New York.
Aug. 1, 1905
Mar. 10,1880
Columbus Treasury.
Q.—M.
M. A S. N. Y., Am. Exch. N. B’k Sept. 1,1890
M. A N. Best. AMancbes ter ,N. H. Nov. 1. 1879
1894
Concord, N. H.
J. A J. Bost. AMan Chester, N. H. Jan. 1, 1880
A. A O.
Oct., 1895
F. A A.
Feb. 2, 1880
Boston Office.
A. A O.
do
April 1, 1893
Various
do
Jan. 1, 1881
F. A A.
do
Feb. 2, 1880
J. A J.
do
July 1, 1889
J. A J. Boston, Bost. A Alb.RR. Jan. 1, 1880
....

3*3
7

1*3
7
7

1*3
6 g.
4

line opened in 1869. In 1879 a million tons of coal were moved. Gross
earnings, $1,005,973, and expenses, $636,773; net earnings, $395,799.
Dividends of 8 per cent have been paid for some years. The last annual
report was published in Y. 30, p. 407. Operations and earnings for five
years past were as follows:

Passenger

Years.
Miles.
1875......
89

—(V. 28, p.

Cost of property, $1,702,335.

Colnmbus

7

7
7
7
7
7
7
7

57,545
1,500.000
2,030,150
1,500,000
300,000
730,000
1,000,000

1874-659.

I860

1875

bonds, guar, by Conn. A Pass

.

ho

89

7

8,995,000

^

m

A. & O.
Various
J. & J.
A. A O.
F. & A.
J. & J.
Various
M. & N.
J. & J.
F. & A.
F. & A.
F. A A.

7
7

Where Payable, and by
Whom.

pal,When Due.

J. & D. Boston, Treas.’s Office.
•

7

23,200
120,000

....

When

Payable

+ mmm

715,000
510,500
309,500
113,000
821,000

•

.

7 g.
7

2,632,000

m

....

.

Rate per
Cent.

224,000

....

1864
1865

....

Connecticut River—Stock

<V. 28,

Outstanding

587

146
110

as

....

Bonds—Princi¬

INTEREST OR DIVIDENDS.

Amount

$2,526,000
1,603,000
13,938,972
10,478.000

$1,000

....

208
224

Connecticut <£ Passumpsic—Stock
New mortgage (for $1,500,000)
do

1879

39

do
Union A Logansp’t (U’n City to Logansp
do
Tol. Logansp’t A Burl.(Logansp. to Ill line)
do
Col. A Ind. 1st A 2dpref.(Col. to U’n City)
do
2d M. Col. & Ind’polis Cent. (Col. to Union City),
do
Chic. & G’t East, construe. (Chic, to Rioh’d)
do
Columbus, Chicago A Ind. Central
'Income conv. do
do
do
Income (Toledo, Logansport A Burlington)
Union Trust Co. certificates
Columbus dk Hocking Valley—Stock
1st mortgage, sinking fund bonds
1st mortgage, Logan A 8traitsville Branch
2d mortgage bonds
Columbus Springfield dk Cincinnati—1st inort
Columbus dk Toledo—1st mortgage coupon, s. f
Columbus dk Xenia—Stock
1st mortgage
Concord—Stock
Concord dk Claremont—Bonds
Concord dk Portsmouth—Stock, guaranteed
Connecticut Central— 1st mortgage for $400,000...

Notes, coupon
Massawippi st’k,

[Vol. XXX.

great flavor by giving Immediate notice of any error discovered In these Tables*

DESCRIPTION.
on

BONDS.

AND

Freight (ton)

Gross

Mileage.

Mileage.

Earnings.
$877,590
841,139

45,853,513
3,151,140
47,572,017
3,228,815
55,860,504
3,093,965
63.317,069
3.652,905
73,188,798
399; V. 30, p. 407.)
89
100
105
105

Net

Div.

Earnings. p. c.
$358,376
386,834

820,899

357,755

871,553
1,032,572

391,127
395,799

Columbus Springfield dk Cincinnati.—Columbus, O., to Springfield, O.,
Chicago dk Indiana Central.—Columbus, O., to Indianapolis,
Ind., 187 miles; Bradford Junction, O., to Chicago, Ill., 231 miles; Rich¬ 44 miles. Opened in 1872. Leased to Cincinnati Sandusky A Cleveland
mond Junction, Ind., to Anoka Junction, Ind., 102 miles; Peoria Junc¬ for $80,000 a year, but in 1878 lease-rental reduced one half for the
tion, Ind., to Illinois State Line, 60 miles; total, 580 miles. This company next succeeding three years. In 1878 the balance sheet showed: capital
■was formed Feb. 12,1868, by consolidation of the Col. A Indiana Cen.
stock, $1,000,000; bonds, $1,000,000; unpaid coupons, $70,000; and
and Chicago A Great Eastern railroad companies, and was leased to the profit and loss, $59,428; total liabilities, $2,129,428.
Construction,
Pittsburg Cincinnati & St. Louis Railway Company February 1,1869, $2,000,000; rental account, $100,000; and other property and assets.
by whom it was operated during the last two years, under direction of the $29,428.
V. S. Circuit Court, for account of Receivers of the C. C. A I. C. Ry.
Columbus dk Toledo.—Columbus, O., to Walbridge, O., 118 miles—about
Co. The lease stipulated that the lessees should maintain the road and 65
miles steel. Completed in 1877. The tracks of Northwestern Ohio
equipment, operate it, and pay over to the lessors 30 per cent of the are used for 5*2 miles from
Walbridge to Toledo. Gross earnings in 1879
gross earnings. Also, that the rental should always be equal to the inter¬ $574,893, and expenses, $314,632.
Net earnings, $260,260; Tease
est on $15,000,000 first mortgage bonds of the C. C. A I. C. Ry. Co.,
rental paid Northwestern Ohio Railroad, $21,178; interest, $169,867.
and $821,000 of the second mortgage bonds of the Col. & Ind. RR. Co.
Capital stock is $915,097. There were bills out of $127,016, in the shape
The lessees also agree to pay the interest as it accrues on these bonds. of
10-year notes for real estate. Annual report, V. 30, p. 407. (V. 28, p.
Any net earnings remaining after the payment of this interest are to be 399.)
applied to the payment of interest on the second mortgage 7 per cent
Columbus dk Xenia.—Columbus, O., to Xenia, O., 55 miles. Is operated
bonds to the amount of $10,000,000 (or on the preferred stock into which
these last bonds may be converted), to pay to a sinking fund' of one-half as a division of the Little Miami, and is leased for 99 years iu connection
of one per cent on tne $15,821,000 referred to, and to apply any balance with that road to the Pittsburg Cincinnati A St. Louis, which pays 825 per
to dividends on common stock. In August, 1874, default was made on the cent on stock and provides for the bonds. The lease is guaranteed by
$5,000,000 seconds, and April 1, 1875, defaulted on first mortgage. In the Pennsylvania Railroad Company.
the suit between lessor and lessee, Judge Harlan decided the debt must
Concord.—Concord, N. H., to Nashua, N. H., 35 miles. The company
be reduced to the limit—(See bondholders’
report, V. 29, p. 656.) Pur¬ also own the Manchester & North Weare (19 miles) and the Hookset
suant to this decision, the debt was substantial^ reduced as required, Branch (7 miles), and operate under lease the‘Concord & Portsmouth,
and the final decision of Justice Harlan in January, 1880, embraced the the Suncook Valley and the Nashua Acton A Boston.
(An abstract of the
following: “That the Columbus Chicago A Indiana Central Company has hist annual report was given in the Chronicle, V. 28, p. 525.) Opera¬
performed its covenant of the lease in reducing the bonded indebtedness tions, earnings, and income over rentals, &c., for five years past were as
of the road; that the Pennsylvania Company (guarantor of the lease) is follows :
'

entitled to $1,258,000 of convertible income bonds for the same amount
of second mortgage bonds of the Columbus Chicago A Indiana Central

Company, together with $572,390 accrued interest ; that on the 1st of
January, 1880, there was due and unpaid, as rent, by the lessees, $3,356,855 97; but they are entitled to a total deduction of $587,281 07,
leaving the net amount due to the Columbus Chicago A Indiana Central

$2,769,574 90,

of tenants accepted, and the trustees are entitled
to receive 6 per cent interest thereon from January 1,1880, till paid, but
none before that date; that unless the amount is paid within sixty days
save as

from date the trustees to have execution

against the Panhandle and

Pennsylvania companies therefor; but the net earnings of the Columbus
Chicago A Indiana Central Road for November and December last shall
be credited on the judgment, as well as the sum of $114,267 61, the
earnings for the month of October. The payments by the lessees on the
judgment shall be deposited in the Gallatin National Bank, and to the
credit of James A. Roosevelt and William R. Fosdick, trustees, and the
lessees shall be bound under the lease to pay to the said trustees and
their successors, so long as their receivership shall last, as rental for the
premises of the Columbus Chicago A Indiana Central, 35 per cent of the
gross earnings of the road, and in case they fall short or $1,107,470 (7
per cent interest on $15,821,000 of bonded indebtedness) in any one year,
Then the deficiency shall be made good by the lessee. The property in

Gross
Net
Div.
Passenger Freight (ton)
Income. p. c.
Years.
Miles.
Mileage.
Mileage.
Earnings.
10
1874-5. i..
142
13,240,002 21,926,106 $1,002,950 $151,676
10
1875-6...,
142
151,030
950,358
12,987,174
20,008,402
10
142
1876-7....
19,111,714
871,528
150,653
12,067,832
10
1877-8....
142
771,171
150,687
10,856,140 21,634,669
10
1878-9...
733,004
170,617
10,580,508
21,609,056
—V. 28, p. 525.
Concord\ dk Claremont.—Concord to Claremont, N. H., 56 miles, and
Contoocookville to Hillsborough, 15 miles; total, 71 miles. Consolida¬
tion of several small roads in 1873. Gross earnings iu 1878-9, $145,718,
and operating expenditures, $96,918; net earnings, 48300.
Capital
..

..

..

..

stock, $410,900, and bonds, $500,000; total stock and bonds, $910,000,
was the cost to the consolidation.
Original cost of property,

which

$1,850,000.

Concord dk Portsmouth.—Portsmouth, N. H., to Manchester, N. H., 40*3
miles. The road was sold to first mortgage bondholders in 1857, and
leased to Concord Railroad in 1858. Lease rental is $25,000 a-year,
which gives 7 per cent a year to present stockholders. There is no debt.
Connecticut Central.—East Hartford, Ct., to Massachusetts Line, 20

miles, withbranch from Melrose to Rockville, 7 miles; and leases SpringChicago held by the Columbus Chicago A Indiana Central Road, with the field A New London, 8 miles; total, 35 miles. Completed in 1876.
exception of three small lots, is necessary for the use of the railroad, Capital stock, $437,600; funded debt, $325,000; and bills, overdue cou¬
and one part of the property is to be leased to the Panhandle Company. pons, Ac., $28,953. In March, 1880, $302,000 of the bonds were sold to
The lessee is entitled to receive from the Columbus Chicago & Indiana New York A New England Railroad. (V. 30, p. 116, 357.)

Central, on its claim for betterments, income bonds to the amount of
Connecticut dk
$660,000.” From this decision the Pennsylvania Railroad appealed to miles. Leases Passumpsic.—White River Junction to Canada Line, 110
Massawippi Valley (Canada), 36 miles. Total operated,
the U. S. Supreme Court. The effect of the decision is considered in the
147 miles. Chartered in 1835. Completed in 1863. The lease of Mas¬
New York Committee’s circular, Y. 30, p. 289. And the gross earnings
for six months, September to March, are given as $2,282,748, and net sawippi Railroad is at 6 per cent on bonds and same dividends as are
paid on the stock of the lessee. Abstract of last report in V. 29, p*. 299.
earnings $725,237, against $361,927 for same time in 1878-9.
The new mortgage of $1,500,000 will retire previous issues. Operations
Operations and earnings for five years past were as follows;
and earnings for five years past were as follows:
Years.
1875
1876
1877
1878
1879

Miles.
587
581

Passenger
Mileage.

Freight (ton)

Gross

Mileage.
239,812,791

274,953,224
254,492,612
305,019,182

33,250,748
37,754,467
31,795,297
32,132,185

Earnings.
$3,619,653
3,457,716
3,396,255
3,433,665
3,911,261

Net

Earnings.

$606,442

506,608
581
455,340
581
411,514
580
33.967,484
402,856,462
756,300
~(V. 27 p. 172, 199 ; V. 28, p. 43, 145, 172, 371,453,503; V. 29, p.
146. 169, 252, 433, 459, 656, 680; V. 30, p. 16,163, 289. 383.)
Columbus dk Hocking Talley.—Columbus, O., to Athens, O. (steel), 76
Miles, and sundry branches, 29 miles; total, 105 miles. Chartered as
**
Mineral Railroad” in 1864. Present title adopted in 1867 and main




.

Years.

Pe
assenger

Miles.
147
147
147
147
147

Mileage.
5,971,686
5,170,347
5,619,829
4,464,983

Freight (ton)

Mileage.

7,826,758
6,805,104
7,618,721
8,179,341

Net
Div.
Gross
Earnings. Earnings, p.c.
$706,754 $224,110
3

637,554
604,596
558,612
544,142

240,955
244,311
222,590
219,695

..
..

3
3
8,574,443
4,400,575
—(V. 29, p. 299, 301.)
Connecticut River.—Springfield, Mass., to South Vernon, Vt., 50 miles,
and branches, 6 miles; total, 56 miles. Leases Ashuelot Railroad (24
miles) at about $14,000. Pays 8 per -cent dividends on stock and has

paid off all the funded debt.

(V; 29, p. 510.)

Subscribers will confer a great favor

of column headings, &c., see notes
first page of tables.

on

Connecticut Western—1st mortgage

Connecting (Phila.)—1st mortgage
Corning Cowanesque A Antrim—1st

by giving Immediate notice of any error discovered In these Tables.

mortgage

Cumberland A Pennsylvania—1st mortgaged
2d mortgage, sinking fund, (guaranteed)
Cumbei'land' Valley—Stock ($484,900 preferred)
1st mortgage
:
..;
2d mortgage, sinking fund guaranteed
Common bonds

_

—

Miles Date ,8ize, or
of
Par
of
Road. Bonds Value.

67
7
64
38
38
110
52
52

1870
1864

$500&c.

Amount

Outstanding

....

1st, 2d and 3d mortgages
Davenport A: Northwestern—1st mortgage
Dayton A Michigan—Com. stock (3% guar. C.H.&D.;
Preferred stock, (8 percent, guar. C. H. &D.)
1st mortgage, sinking fund, $30,000 per year....
2d mortgage
3d mortgage

$353,940) 1st and 2d mortgage

Daytan A- Union—1st mortgage
2d mortgage
V. .7
Income mortgage bonds
Dayton A Western—1st M., guar.

Delaware—Stock

33
33
160
142
142
142
142
142
m

m

m

’60-’72

50
50
1871
1856
1,000
1867
1,000
1869
1,000
61&64 500 &c.
.

85
85
•

•

288

ra

•

.

.

mm

2,395,350

7
7
7
7
7

1,430,216
750,000

.

....

•

1875

....

50
500 &c.

....

1856
1877
1872

....

1,000

Connecticut Western.—Hartford, Conn., to New York State line, 67
miles. Chartered in 1868 and road completed in Dec., 1871. Gross

7
7
6 & 7
3
6

1%

1,598,000
1,500,000

7

2%

26,200,000

7
7
7

1,633,000

3,067,000
600,000

and by

1900-’l-’2-’3-’4

Philadelphia.

July 1, 1885
Co.’s Office. March 1,1891
do
May 1, 1888
Jan., 1880
Q.—J. Phila. and Carlisle, Pa.
A. & O. Phila., T. A. Biddle & Co April 1, 1904
do
do
A. & O.
April 1, 1908

M. & S. New York,
do
M. & N.

J.

-

Stocks—Last
Dividend.

July 1, 1900

N. Y.,Met. N. Bank.

do
do
New York and Danbury
& J. New York, 84 Broadw’y

Q.—M.

2

135^000
252|444
495^000

J. & J.
M. & S.

Where Payable,
Whom.

pal.When Due.

A. & O.

1%

1,211,250
1,870,000
426,000
356,000
105,500
100,000

1,000

1875

27
195
115

8
8
6
3
7
5

1,000

1865

•

2%

161,000
109,500
81,800
600,000
500,000

50

41

•

^

1,710,000

....

31

L. M. and C. & X..

Mortgage bonds, convertible, guar. P. W. & B
Delaware A Bound Brook— Stock, guaranteed
1st mortgage...^.
Delaware Lackawanna A Western—Stock
2d mortgage (Delaware Lackawanna & Western)
Consol, mort., on roads Aequipm’t, ($10,000,000).
Bonds (convertible June 1,1875 to ’77),

•

7
6
7 g.
6
6

594,000
1,777,850

50
500 &c.
500 &c.
100 &c.
50
100 &c.

....

Payable

803^500

1,000

....

When

Cent.

991,000
500,000

1,000

1866
1868

Rate per

$3,200,000

1,000

16874-6578118623-790.
Danbury A Norwalk—Stock

Toledo depot (cost

Bonds—Priuci*

INTEREST OR DIVIDENDS.

DESCRIPTION.
For explanation

27

BONDS

AND

STOCKS

RAILROAD

April, 1880.]

1, 1884
Dec., 1879
1880, ’90. ’92
Dec. 1, 1906
Jan.

A. & O. Cincinnati. C. H.& D.Co.
April, 1880
April, 1880
q.—j . N. Y., Winslow, L. & Co.
do
do
j. & J.
July, 1881
do
do
Sept., 1887
M. & S.
do
do
Oct., 1888
A. & O.
Mar.,’81* ’94
do
do
M. & S.

J.
J.
J.

Exc'h.

& J. N. Y., Am.
N. B’k
<fe J.
Dover, Co.’s Office.
& J. Phil., Fid’lity I.T.&.S.Co

Q.—F.
F. & A.

Q.-J.

Philadelphia.
Philadelphia.
New York, Office.

M. & 8.
M. & S.
J. & D.

do
do
do

Jan.
Jan.
Jan.
Jan.
Jan.

1, 1879

1,
1,
1,
2,
July 1,
May 1,

1879

1879
1905
1880
1895
1880

August, 1905
July 20,1870
March 1,1881

do
do
do

Sept. 1, 1907
June, 1892

carried with that

in perpetuity from Jan. 1,1865, to Little Miami, and
road in the general lease to the P. C. & St. Louis. The lessees

are

virtual

earnings, $50,715. Capital stock, owners and are answerable for all obligations.
$1,892,100. Permanent property, $5,042,785. No bond interest has been
Delaware.—Delaware Junction (P. W. & B.), Del., to Delmar (Md. line),
paid since Jan. 1,1876. Foreclosure suit begun in 1880. (V. 30, p. 192.) 84 miles and with branches 100 miles. One branch' (6 miles) is operated
Connecting (Philadelphia).—Mantua to Frankford, Pa., 7 miles. A by the Dorchester & Delaware Company. The Delaware Railroad was
connecting link in Philadelphia to the West and South. Operated by opened 1855-1860, and is leased to P. W. & B. Company; rental 30 per
cent of gross earnings, but stock must have six per cent. Gross earnings
Pennsylvania Railroad. Rental, 6 per cent on capital stock, $1,278,300;
and funded debt, $991,000. The bonds are issued in series ABC and D, in 1878 $365,580; net earnings, $109,674... Dividends and interest
paid, $131,758. Deficit (charged to future earnings, $22,084. (V. 28,
maturing respectively in 1900-1, ’2, ’3 and ’4.
p. 69.)
Coming Cowanesque A Antrim.—Corning, N. Y.,fto Antrim, Pa., 53
Delaware A Bound' Brook.—Bound Brook (C. of N. J.), to Delaware
miles, and Laurenceville and Elkolt, Pa., 11 miles; total, 64 miles. River (27 miles), and Trenton (4 miles), in all 31 miles. In connection
Consolidation (January, 1873) of the Petersburg & Corning and the with Central of New Jersey and North Pennsylvania forms a line between
Wellsboro railroad companies.
June 1, 1874, the Cowanesque Valley New York and Philadelphia. In May, 1879, the property was leased for
Railroad was absorbed. These lines are leased to and operated by the 990
years to the Philadelphia & Reading Railroad Company—the lessee
Fall Brook Coal Company. Reutal paid—7 per cent on bonds, $35,000;
paying interest and 6 per cent on stock in 1879-81, 7 per cent in 1881-83,
6 per cent on common stock, $84,000, and 12 per cent on preferred and 8
per cent afterward. The terms were described as follows at the
stock, $60,000; total rental, $179,000 a year.
Stock—common, time; “ The lease is for 990 years, being made for this term because the
$1,400,000, and preferred, $500,000; and 7 per cent bonds, $500,000; Bound Brook’s charter is for 999 years, and a few years of its existence
total ($137,500 per mile), $2,400,000. Annual drawings of $20,000 have
already passed. The conditions are that the Reading is to pay all
commencing in 1880.
interest on the bonds of both the main roads and the laterals, and the
Cumberland A Pennsylvania— Cumberland, Md., to Piedmont, Md., interest on the floating indebtedness at 6 per cent until the bonds are
with several branches, in all 55 miles, almost all steel rail. It is owned converted. The Reading also binds itself to pay dividends on the stock
and operated by Consolidation Coal Company, which guarantees second of both roads quarterly, on the 1st of February, May, August and No¬
vember. For the first two years it is bound to pay 6 per cent dividends;
mortgage.
for the next two years following, 7 per cent, and for all subsequentCumberland Valley.—Harrisburg, Pa., to Potomac River, Md., 82 miles. years 8 per cent, free of all taxes. The bonded indebtedness of the
Chartered in 1831. Main line, Harrisburg to Cumberland, completed in Bound Brook road is $1,500,000, and the capital stock about $1,500,000.’*
1839, and extended to the River in 1872. Owns or leases several factory Gross earnings in 1878 $270,570; net, $119,022.
(V. 28, p. 451, 503.)
roads, in all about 43 miles. The stock is owned in large part by Penn¬
Delaware Lackawanna A Western.—Delaware River (N. J. line) to New
sylvania Railroad Company. Last annual report V. 30, p. 297, gave York State line, 115 miles; Bloomsburg branch, 80 miles; Winton
the following general balance Dec. 31,1879:
Branch, 8 miles; Keyser Valley branch, 5 miles; leased lines in New
Cr.
Dr.
First preferred stock.... $241,900 York—Cayuga & Susquehanna Railroad, 35 miles; Green Railroad,
Cost of road and equip¬
8 miles; Oswego & Syracuse Railroad, 35 miles; Utica Chenango &
243,000
ment
$1,887,465 Second preferred stock.
Valley
1,292,950 Susquehannalines, 187Railroad, 98 miles; Valley Railroad, 11 miles;
Materials on hand
58,299 Common stock
total leased
miles; controlled and operated—Syracuse Bing¬
First mortgage bonds...
Trustees of the contin¬
161,000 hamton & New York, 81 miles; Rome & Clinton Railroad, 13 miles;
Second mortgage bonds.
109,500 Utica Clinton & Binghamton, 31 miles; total controlled and operated,
576,149
gent fund
81,800
Balance of accounts....
83,785 Common bonds
125 miles; leased lines in New Jersey—Chester Railroad, 10 miles;
45,473 Morris &
Cash, Dec. 31, 1879
156,714 Due for dividends.
Essex, 118 miles; Newark & Bloomfield, 4 miles; Warren RR.,
Due for interest on bds.
1,783 19
miles; total, 160 miles: grand total operated, 670 miles. For the
585,006
$2,362,414 Balance
terms of leases, see remarks under the names of the respective leased
roads.
The Lackawanna & Bloomsburg was consolidated with this
$2,762,414
company June 19,1873.
The following is a synopsis of the annual
Large advances have been made to branch roads. Operations and statement of the company for 1879:
earnings in 1879, $223,084; net

.

v

earnings for live years past were as follows :
Passenger Freight (ton) Gross
Net
Div.p.c.—n
Years.
Miles.
Mileage. Mileage. Earnings. Earn’gs. Pref. Com.
125 7,163,054 9,730,205 $526,076 $249,042 10
10
125 7,314,649 10,531,250 547,994 289,351 12% 12%
125 5,869,562 11,062,510 519,851 254,253 10
10
125 5,416,229 11,030,907 536,410 224,985 10
10
12,485,385 503,597 264,900 10
10
—(V. 28, p. 427 ; V. 30, p. 297.)

Danbury A Norwalk.—Danbuty, Conn., to South Norwalk, Conn., 24

miles, with branches to Ridgeville and Hawleyville, together 10 miles.
Opened in 1852. Gross earnings in 1878, $157,953; net, $39,667. Form¬

erly paid 6 per cent, but dividends have been irregular. Operations and
earnings for five years past were as follows:
Vi
Net
Div.
Gross
Passenger Freight (ton)
Miles.
Years.
Earnings.
Earnings.
p. c.
Mileage.
Mileage.
6
33
1874-5...
$72,269
889,947
$167,027
2,355,878
.

1875-6...
1876-7...
1877-8...
1878-9...

.

.

.

.

33

2,521,678
2,464,378
2,557,337

33

2,481,889

33
33

960,977
903,384
932,634
1,089,900

173,478
165,245

157,953
164,236

73,340
43,371
39,667
35,318

6
3

2”

Dayton A Michigan.—Dayton, O., to Toledo, O., 141 miles. Opened in
Leased in perpetuity to the Cincinnati Hamilton & Dayton. A
preferred debenture stock takes up the bonds. A sinking fund is also
1862.

Erovided. Lessees have never made profit from operations. The lessees
old $1,398,100 of the common stock.
(V. 29, p. 15.)

Gross earnings
Less expenses

Balance net earnings
Deduct interest on bonds and rentals of leased

Actual profit for the year ending
Add surplus income to Dec. 31, 1878

Dayton A Union.— Dodson, O., to Union City, Ind., 32 miles.

The

$38,990. Paid lease, $10,000; equipment hire, $5,557, and bond inter¬
est, $28,695; total payments, $44,352. Capital stock, $86,300; funded
debt, $487,445, and other liabilities, $52,390; total, $626,135. Property
account, $620,224.

Dayton A Western—Dayton, O., to State line, Ind., 36 miles.




Leased

roads

Dec. 31,1879

5

$3,810,451
3,624,430

$186,021
4,346,125
$4,532,146

heretofore kept as an asset, and
consequently included in the surplus income of past years, has been
written off the books of the company, namely, $873,809, leaving income
account surplus, Dec. 31, 1879, $3,658,337.
The following statement
includes the operations of the Delaware Lackawanna & Western proper.
Operations and earnings for five years past were as follows:
Passenger Freight (ton)
Net
Gross
Dfv.
Years.
Miles.
Mileage.
Mileage.
Earnings. Earnings, p. c.
208 11,176,135 229,499,212 $6,282,108 $4,170,086 10
208 12,858,752 174,610,656 4,051,286 2,645,288
7%
208
8,722,409 168,693,921 3,617,659 2,105,341
208
9,336,008 187,819,897 3,699,601 2,320,482
....
The entire cost of the change of gauge,

following shows the gross and net earnings of the company proper,
including the aggregate coal sales, fqf twelve years:
The

Years.

Greenville <fe Miami Railroad was sold out October 30,1872, and re¬
organized as now January 9,1863. The company lease the section of
the Dayton & Western between Dodson and Dayton (15 miles), and carry
their traffic on 47 miles. Operated by trustees since December, 1871.
Gross earnings (1878), $107,010; operating, $68,020; net earnings,

$19,942,290
16,131,839

from all sources

Gross

Earnings.

Gross

Net

Earnings.

$11,902,571
12,141,209
14,924,010
20,011,300

$804,696
1,654,763
1,759,595
2,164,019
1,118,911
1,295,488
5,331,310

Years.
1874..
1875..
1876..
1877..
1878..
1879..

Net

Earnings.

Earnings.
$5,743/750
7,162,183
4,001,861
2,479,197
3,618,129''

$22,741,521
27,014,846
17,447,916

14,871,311
14,454,405
17,086,100
3,810,451
19,942,290
21,660,013
25,334,989
The mortgage for $10,000,000 authorized will take up prior bonds to tho
amount of $2,820,000 as they mature, and the balance is for cash re*
sources as required.
(V. 28, p. 144; V. 29, p. 119, 225; V. 30, p*
108, 408^

Subscribers will confer

a

BONDS

AND

[Vol. xxx
discovered in tliese Tables.

great favor by giving immediate notice of any error

Bonds—Princi¬

INTEREST OR DIVIDENDS.

DESCRIPTION.
For

STOCKS

RAILROAD

28

explanation of column headings, &c., see notes
on first page of tables.

Miles
Date
of
of
Road. Bonds

Size, or

Amount

Par
Value.

Rate per
Cent.

Outstanding

When

Where

Payable

pal,When Due.

Payable, and by
Whom.

Stocks—Last
Dividend.

C7

Delaware Lackaicanna d TYestern—(Continued)—
Lackawanna & Bloomsb., 1st mort. (extension)..
Denver d Rio Grande—Stock
1st mort., gold, sinking fund

4781

1st consol.'mortgage ($15,000 per mile)
Denver South Park d Pac.—1st mort., gold, sink, fd
Des Moines d Fort Dodge—1st mortgage, coupon
Dei. Gr. Haven d Mil.—1st M., guar.,(for $2,000,000)
20

mortgage, guar., (for $3,500,000)
Dollar (Oak. A Otta. RR.) bonds, Oct, 1, 1853
1st mort. (Detroit & Pontiac RR.), April 1, 1851.
3d mortgage (Detroit & Pontiac RR.), Feb. 1854.
2d mortgage, (Detroit & Pontiac RR.), Jan. 1853.

60
291
150
88
189

1S9

....

Lansing d North

—

1880
1876
1874
1878
1878
1853
1851
1854

Dubuque d Dakota—1st mort., gold, guar
Dubuque d Sioux dig—Stock
1st mortgage, 1st division
1st mortgage, 2d division (for $1,400,000)
Dubuque Southwestern—1st mort., pref., sink, fd
1st mortgage, Oct. 1,1863
Dunkirk Allegh. Valley d Pittsburg—1st mort., gold
2d mortgage
3d mortgage.
East Broad Top.—1st mortgage, registered
East Pennsylvania—Stock ~
1st mortgage
East Tennessee Virginia d Georgia—Stock

mortgage sinking fund bonds

182
59
59
40
143
100
43
55
55
90
90
90
30
36
36
270
242

100
500 Ac.
500 Ac.

1,000
1,000
1,000

,

1863
1864
1863
1863
1870
1870
1870
1873

1,000
1,000
1,000
100
500 Ac.

1,000
1,000
1,000

1,000
1,000
1,000

1,000

1,000

50
100 Ac.
100

1870

1,000

points—565 miles of extensions are contemplated in all, and the bonds
are issued at $15,000 per mile.
The following are the latest yearly
earnings reported:
Average
Gross
Net
Years.
Miles.
Earnings. Earnings.
120
$379,142
$183,516
363,096
388,846

155,029
161,602

773,322

342,676

For six months ending Dec. 31, 1S79, gross earnings were $755,436>
and net earnings $396,724. (Y. 28, p. 120, 173, 427, 502, 641; V. 29, pp.

16. 118, 143, 248>

Denver South Parkd Pacific (3 feet).—Denver, Col., to Leadville, Gun"
nison, Ac., 135 miles, with branch to Morrison from Bear Creek, 9 miles'
and coal mine branches in South Park. 3^ miles; minor branches, 21e
miles. Construction on Gunnison Extension, a tunnel 11,000 feet above
sea-level. Bonds issued at the rate of $12,000 per mile. (Y. 29, p. 511,
Y. 30 p. 66.)

Des Moines d Fori Dodge.—Des Moines to Fort Dodge, Iowa, 87x4 miles,
a division of the Des Moines A Valley Railroad, built in 1870

Originally
sold

out in 1873.

Gross earnings in 1879 were $225,404; net,
Half of above bonds are incomes and depend on earnings for
their interest. Capital stock is $1,843,100, and funded debt $2,200,000;
total cost of property to present owners, $4,200,000.
ana

$84,062.

Detroit

Grand Daren d

Milwaukee.—Detroit, Mich., to Grand Haven*

Mich., 189 miles.

This is a reorganization of the Detroit & Milwaukee’
sold in foreclosure September, 1878. This road is now oper

which was
ated as an extension of the Great Western of Canada, by which the new
bonds are guaranteed. The Detroit & Pontiac and O. & O. interest has
been paid, and those bonds may be changed into new first mortgage.
(V. 27, p. 15, 40, 67, 172, 251, 356; V. 28, p. 120.)

Detroit Hillsdale d South western.—From Ypsilanti,Mich.,to Banker’s,
The Detroit Hillsdale A Indiana road was sold in fore¬
closure December 28, 1874, and this company organized by the bond¬
holders. In February, 1880, a working arrangement was made with the
Toledo & Ann Arbor road. (V. 30, p. 222.)

Mich., 65 miles.

Detroit .Lansing d} Northern—Detroit, Mich., to Howard City, Mich.,
157 miles; Stanton Branch, Stanton Junction to Blanchard’s, Mich, 37

miles; Belding Branch, 1^ miles; Slaght’s Branch, 1*2 miles; total, 197

miles. The company also uses 4 miles of Grand Trunk track, Detroit to
the Junction. A consolidation, April 11, 1871, of the Detroit Howell &
Lansing, the Ionia & Lansing and the Ionia Stanton & Northern Rail¬
roads, under the name of Detroit Lansing & Lake Michigan Railroad,
which was sold in foreclosure December 14, 1876, and new stock issued
as above.
Gross earnings in 1878, $970,033; in 1879, $1,108,932. Net
oamings in 1878, $372,198 ; in 1879, $449,145. (V. 28, p. 326; V. 30,
p. 168, 271.)

Dubuque d Dakota —Waverly, Iowa, to Hampton, Iowa, 41 miles’
Built on the. old grading of the Iowa Pacific. Dubuque & Sioux
City
Company guarantee the bonds issued for construction to the extent of
$10,000 per mile. Bonds may be paid off at any time at 105. No gen¬
eral account as yet published. Bonds as above $10,000
per mile; pre¬
tended stock $10,000 and ordinary stock $5,000; total, $25,000
per mile.
Will be extended eastward from Waverly to Wadena, 45 miles, and
there join the Turkey River Branch of the Burlington Cedar Rapids &
Northern Railroad.




7
8
8
6 £•

312
7
7
7
7

7g.

.

March, 1885

M.
J.
M.
J.
A.
A.
M.
A.
F.
J.

Nov. 1,
Jan. 1,

1900
1900

May 1, 1905

June 1, 1905

1918
1918
Jan. 1, 1882
Jan.
Feb.

1, 1882
15,1888
Jan. 1, 1882

....

3L2
3*2

1,000,000
200,000
500,000
1,309,200
495,900
1,968,274
3,123,000

S.

....

‘

2,000,000

1858

shall be issued at once for the purpose of building and completing the
extension to Leadville, New Mexico and San Juan mines, and other

322.)

1874-659.

100
500
500 Ac,
500

of the Denver traffic with the Missouri River and eastern points.’'
The Denver A Rio Grande offered to exchange each $1,000 of the
subscriptions to the Pueblo & St. Louis road securities for $1,000 in bonds
and $500 m stock of the Colorado Coal & Iron^Co. The trust deed of
the consolidated mortgage is to Louis II. Meye? and John A. Stewart,
of New York, as trustees. The deed is to secure and provide for an
issue of bonds, the amount afloat at one time not to exceed $30,000,000,
of which $7,422,200 shall be used in retiring prior issues, and $5,500,000

40,66,301, 329,382, 407, 459, 562, 583; V. 30,

7
6
6
5
7
7
8
7

3,500,000
44,000
144,000
250,000
100,000
1,350,000
1,874,000
2,504,000
1,975,000
770,000
81,000
400,000
5,000,000
296,000
586,000
81,500
450,000

Denver d Rio Grande (3 ft.)— Denver City, Col., to Alamosa, Col., 251
miles, with branches to Canon City and coal mines, 43 miles, and El
Moro, 36 miles; total to January 1, 1880,330 miles. It is in contem¬
plation to build a branch from Animas City to Silverton.
The
trouble between the Atchison Topeka & Santa Fe line and this com¬
pany was finally settled by agreement, and a judicial decree entered
fixing it for ten years, (see V. 30, p. 143), viz.: “ The Denver & Rio Grande
is to stop the construction of its Pueblo A St. Louis line east from
Pueblo. Its extension into New Mexico is to be built only to a point
half way between Conejos and Santa Fe. The Atchison Topeka A Santa
Fe Co. agrees not to build to Denver or Leadville, or to any other point
on or west of the Denver & Rio Grande Railroad.
An equal division of
the Leadville, San Juan and other Southern Colorado business from the
Denver A Rio Grande, is to be made between the two companies at
Pueblo. The Atchison Topeka & Santa Fe will also receive one-quarter

120
120
3'7

?*

New York, Office.
N. Y., Bli. of Commerce.
A N.
do
do
do
A J.
do
A N. N.Y., London A Frankf’t
New York.
A J.
A O.
New York A London.
A 0.
do
do
A N.
New York.
A 0.
do
do
A A.
do
A J.

M. A

....

2.000,000

200 Ac.
500 Ac.

Too
1877
1869
1870
1879

7

$370,900
11,250,000
6,500,000
5,500.000
1,800,000
2,200,000

$100&c.

....

Stock, common

Preferred stock
1st mortgage
Ionia A Lansing, 1st mort., coup., may be reg
do
2d mortgage
....
do
do

1st

1870

1853
65

Detroit

1859

337

7
7
7
3
7
3
7

Boston.

F.
J.
J.
M.
J.
A.
J.
J.
J.
A.
J.
A.
A.
J.
J.
M.
A.
J.

A
A
A
A
A
A
A
A

A
A
A
A
A
A
A
A
A
A

A.
do
J. Boston, 2d Nat. Bank.
J.
do
do
N.
do
do
New York.
J.
0. N.Y.,M.K.Jesup,P.A Co.
J.
do
do
J.
do
do
J. N.Y.,M.K.Jesup,P. A Co.
do
do
0.
D. N.Y., N.Y. Cent. A Hud.
do
do
0.
do
do
O.
J. Philadelp’a, Co.’s Office.
J. Phila., by P. A R. RR.
8.
Phila., P. A R. office.
O. N. Y.,R. T. Wilson A Co.
J. N. Y., Gallatin Nat’l B’k
■

Feb. 10, 1880
Feb. 10, 1880
Jar. 1, 1907

July
May
July
April

1, 1889
1, 1880
1, 1919

15,1880

1883
1894

July, 1883
Oct., 1883
June, 1890
1, 1890

Oct.
Oct.

1, 1890

July 1, 1903
Jan. 20,1880
Mar. 1, 1888
May 1, 1879
July 1, 1900

Dubuque d Sioux City.—Dubuque, Iowa, to Iowa Falls, 143 miles.

Chartered as Dubuque & Pacific in 1856. Leased to Illinois Central from
October 1,1867, for twenty years, the lessees agreeing to pay 35 per
cent of gross earnings for ten years and 36 per cent for next ten years,

with privilege to make the lease perpetual at the latter rate.

Gross
earnings 1878, $925,228; net (after drawback to I. F. & Sioux City
Company), $394,145. Gross earnings, 1879, $927,826.
Dubuque

Southwestern.—Farley, Iowa, to Cedar Rapids, Iowa, 55
Dubuque Marion & Western. It is leased to Chicago
Paul Company, and no separate report of earnings or
Capital stock—common, $588,400; preferred, $589,600; funded debt, $548,000; and other liabilities (including overdue
coupons), $117,083; total liabilities, $1,843,083. The line is practically
a side property belonging to lessees.
(V. 26, p. 264, 459.)
miles.
Formerly
Milwaukee & St.
rental is made.

Dunkirk

Allegheny Valley d Pittsburg—Dunkirk, N. Y., to Titusville,
A consolidation of the Dunkirk Warren & Pittsburg and
Warren & Venango in 1872. Is owned by New York Central & Hudson
River Company, but accounts are kept separate. Gross earnings, 1879,
$283,132; no net earnings; deficiency, $79,889. Capital stock, $1,300,000; funded debt, $3,200,000; advance by lessee, &c., $211,921; profit
and loss, $124,034 ; total liabilities, $4,816,339. Nominal cost of prop¬
erty, $4,811,423. (V. 30, p. 17.)
Pa., 91 miles.

East Broad Top (Pa.)—Mount Union, Pa., to Robertsdale, Pa.. 30
miles. A coal road, opened in 1874. The stock is $568,400. In 1878
gross earnings were $90,808 and net earnings $38,122.
East

Pennsylvania.—Reading, Pa., to Allentown, Pa., 36 miles.

It is

leased for 999 years from May 19, 1869, to the Philadelphia & Reading

Railroad, at
on

rental of 6 per cent per annum on the stock and interest
G. A. Nicolls, President, Reading.

a

the bonds.

East Tennessee Virginia d3 Georgia.—Bristol, Tenn., to Chattanooga,
Tenn., 242 miles; branch line, Clemeland, Tenn., to Dalton, Ga., 30
miles; total, 272 miles. This was a consolidation, Nov. 20,1869, of the
East Tennessee & Virginia
The company owns the

and the East Tennessee & Georgia railroads.
Cincinnati Cumberland Gap A Charleston
Railroad, and also has an interest in the. Western North Carolina and
Rogersville & Jeffersonville railroads. A through route via North Caro¬
lina to the sea coast is purposed. A scheme is also broached to consoli¬
date and make a trunk line from Norfolk to Memphis. This company
leases the Memphis A Charlestown Railroad for 20 years, merely paying
its earnings as rental, but agrees for three years from Dec. 2,1879, to
furnish funds to buy up any coupons of the M. & C. road remaining un¬
paid. After the three years the lessee may surrender the lease on six
months’ notice. The last annual report was published in the Chronicle,
V. 29, p. 382, and the income account for the year ending June 30,
1879, was

as

follows:
1878-79.

1877-78.

$988,291
583,874

$1,022,250

Earnings after deducting operating expenses. $404,417
Less general expenses
36,229

$435,257

$368,188

$409,608

Gross earnings
Less operating expenses

Net

earnings

Net earnings
Interest account
Charged to profit and loss
Dividend of 3 per cent May 1,1879
Balance
Interest

on

586,993

25,649

T

,

$265,676
3,750

58,872—328,298

$39,890
W. N. C. Railroad bonds

16,030

$55,920

Total surplus

The percentage of total expenses to gross receipts was 61*74 per cent
against 59 per cent the previous year. Earnings for five years past were
as follows:
Net
Gross
Div.
Years.
Miles.
Earnings.
Earnings, p.ct.
272
$1,059,986
$342,464
3
272
1,058,954
343,560
3
272
994,050
325,127
272
1,022,252
409,609
3

At the annual

272

988,291

368,188

3

meeting held December 4,1879, resolutions were passed
conferring authority upon the Board of Directors—first, to issue a 6 per
cent guaranteed stock in an amount not exceeding $1,000,000; or, second,
to create and issue second mortgage bonds in a sum not exceeding
$1,000,000, or, third, to issue $5,000^000 of 6 per cent bonds, to be used in
retiring all outstanding bonds and for other purposes. The Pres., R. T.
Wilson, Esq., remarks in his report: “ The earnings of the Memphis A Char leston RR. show a deficit on the amount required to meet its interest oil
the fiscal year’s operation, ending June 30,1879, of $70,081, and it was

RAILROAD

April, 1880. j
Subscribers will confer a

first page

of tables.

d Georgia— ( Continued)—
($92,000 are endorsed)
East Tennessee and Virginia (endorsed)
2d mortgage to U. S. Government

East Tennessee Virginia
East Tenn. A Georgia

Eastern (Mass.)—Stock
Essex RR.lst mort. (extended

Mortgage funding certificates

Eastern (N. II.)—Stock
Eastern Shore (Md.)—
Eel River—Stock

Miles
Date
Size, or
of
of
Par
Road. Bonds Value.

112
130

50-’5G $1,000
1856
1,000

282
1856
1876

for 20 years)
-

15

38

1860

'

Equipment bonds
Elizabethtown Lex.d Big Sandy—1st mortgage, gold
Elmira Jeff, d• Canandaigua.—Stock
Elmira d Williamsport—Stock, common
Preferred stock
1st mortgage bonds
Income bonds, 999 years to run
Erie d Pittsburg—Stock
1st mortgage, convertible into consolid. mort. ...
2d mortgage, convertible
Consolidated mortgage free of State tax
,

Equipment bonds.,
Europ’n dN.A m.—1st M., Bang’r to Winn.,Bang’r l’n
Land grant 1st mort. (2d mort. Bangor to Winn.).
Evansv. d Terre Haute— Stock ($100,000 is pref.)

122
47
77
77
77

1879
1872

100
100 &c.
500 Ac.
100
100 Ac.
100

1,000
100
50
50

1,000

500
50
100 Ac.
100 Ac

100

..

mortgage, Evansv. & Ill., sink, fund
mort., sinking fund (Evansville to Terre H.)..

Rockville extension

Evanville Terre Haute d Chic—1st mort., gold
2d mortgage, gold
.
Fitchburg—Stock
Bonds, coupons, ($4,000,000 authorized)

Amount

Outstanding

discovered in these Tables*

6
6
4
3
6

147,000
190,000

4,997,600
194,400

13,267,774
492,500
400,000
2,778,800
118,000

2i4
6
2
7
6
5
2^

500,000
1,000,000
570,000

56

1869
1869

1,000
50

2,194,000
685,000
1,000,000
2,000,000
1,120,500

1852
1854
1860
1870
1873

1,000
1,000

281,000
611.000

500 Ac.

’74-7-9

1,000

58
131
51
109
23
55
55
189

J.
S.
S.
D.
J.

A N.
A J.
A J.
A O.

Q.-M.

2*2

100

125,500
775,000
325,000
4,500,000

7
7
7
7 g.
7 g.
3

1,000

1,500,000

5, 6 A 7

1,000
1,000

J. 4 A
M. A
M. A
J. A
J. A

Sept.

7
7
7 ,
7
6
6 g.

92,300

T. Wilson A Co.

M.
J.
J.
A.

6
5

290,700

1862
1865
1868

Whom.

Quar.

ls4

81*2
81*2
81*2

Payable

Q.—M.

3*2

1,998,400

Where Payable, and by

do

1 Ltouas—a i'jnoi-

pal.When Due.
Stocks—Last
Dividend.

1830 to 1886

May 1, 1886

,

4J2g.

1,200,000
500,000
500,000

When

J. A J. N. Y., R.
do
M. A N.

Rate pel
Cent.

$862,400

118877644--5659.

1860

1863

-

1st
1st

29

BONDS

INTEREST OR DIVIDENDS.

explanation of column headings, Ac., see notes
on

AND

great favor by giving immediate notice of any error

DESCRIPTION.
For

STOCKS

J.
A.
J.
A.
J.
M.
M.
J.
M.
F.
M.
J.
J.
A.

A
A
A
A
A
A
A
A
A
A
A
A
A
A

J.
O.
J.
O.
J.
S.
N.
J.
N.
A.
N.
J.
J.
O.

July 15. 1873
Sept. 15,1886
Sept., 1906
Dec. 15, 1879
Jan. 1, 1900
Philadelphia.
Mar. 5, 1880
Boston, by Treasurer.
May 1, 1885
Mar. 1, 1902
New York.
Baltimore, N. Cent. RR.
Sept., 1879
May, 1880
Phila., Penn. R. R. Co.
do
do
Jan., 1880
Jan. 1, 1910
do
do
Boston.
do
Boston and London.
Boston, by Treasurer.

do

do

Oct.

1, 2862

Mar.

10, 1880
do
1
do
July 1, 1882
do
do
April 1, 18 SO
do
do
July 1, 1898
Oct. 1, 1890
do
do
Jan. 1, 1894
Boston.
New York and Boston. Mar. 1, 1899
Nov., 1878
Comx)any’s Office.
N.Y.,Farm. L’anA T.Co. Jan. 1, 1887
Nov. 1, lf887
do
do
do
'
do
Aug. 1, 1880
N.Y\,Farm.L’an A T.Co. May 1, 1900
Jan. 1, 1903
do
do
Jan. 1, 1880
Boston, Office.
N.

Y., Union Trust Co.

do

Apr.1,’94 A’98

quite clear that default would be made in the payment of its coupons, and leased to the Northern Central Railway for 999 years from May 1,
advanced the money. Such default would have 1863, at a rental of $155,000 per annum since January 1,. 1880.
put it into the hands of the past-due coupon holders to obtain a receiver¬ The dividends on the common stock are 5 per cent and on the preferred
ship for that road, which would in effect annul the lease under which 7 per cent. Operations arc included in the Northern Central returns.
you are now operating it.” * * * “The necessary advances were made -(V. 28, p. 253.)
and the coupons purchased, which advances, it is believed, will be
Erie d Pittsburg.—New Castle, Pa., to Girard, Pa., 81 miles; branch:
returned to you by the first of next January from the net earnings of the Dock Junction to Erie Docks, 3 miles; total, 84 miles. Road opened in
road.” In reference to the amended lease he says: “The proposed 1865. It was leased to the Pennsylvania Railroad for 999 years from
amendments withdraw from the Memphis & Charleston Railroad Com¬ March 1,1870, at a rental of 7 per cent on stock and interest on the
pany the right of canceling the lease so long as the East Tennessee bonds, and the lease was transferred to the Pennsylvania Company.
Virginia & Georgia Railroad Company will supply any deficit in net From Girard to Erie, 15 miles, the track of the Lake Shore A Michigan
earnings which may be necessary to meet the interest upon the coupons Southern is used. The lease has been quite unprofitable to the lessees,
of the former company. And the East Tennessee Virginia & Georgia and in 1878 the deficiency paid by them was $217,437. Wm. L. Scott is
Railroad Company takes an engagement upon itself to supply this President, Erie, Pa. (V. 28, p. 377.)
deficiency for a tenn of three years from the date of the proposed
European d North American.—Bangor, Me., to Vanceboro (State line)>
amendments to the lease. Under the provision of these amendments,
the coupons of the Memphis & Charleston Railroad Company are to be Me., 114 miles. Road opened in 1871, and worked in connection with the
European A North American Railway of New Brunswick and consoli¬
bought and held by the East Tennessee Virginia A Georgia Railroad dated with that line Dec. 1,1872, making an unbroken line from Bangor,
Co. as a subsisting lien and due indebtedness against the Memphis &
Charleston Railroad Company. It wrill be optional with the East Ten¬ Me., to St. John, N. B., 205 miles. In 1875 default was made, and the
main division went into the hands of trustees of the land-grant mort¬
nessee Virginia & Georgia Railroad Company, after three years, to
elect gage Oct. 2, 1876. The company had a land grant of 750,000 acres in
whether it will continue to buy the coupons or surrender the lease.
the State of Maine. In the year ending Sept. 30, 1878, the gross earn¬
As to the probable deficit which may from time to time occur in the net
ings were $356,858 and net earnings $126,507. (V. 27, p. 148, 251,
proceeds of the Memphis & Charleston Railroad, required to meet its 628; V. 29, p.
357.)
annual interest, it is proper to state that it is hoped that these will not
Evansville d Terre Hautc.—Evansville, Ind., to Terre Haute, Ind., 109
be very large—that is, if only the ordinary wear and tear of the road is
replaced; but if it is the intention of your company to keep the property miles; Rockville extension—Terre Hame Ind., to Rockville, Ind., 22
for the full term of the lease—say for eighteen years from the first of miles; total, 131 miles. This was formerly the Evansville & CrawfordsJuly last—it is believed that it would be a wise policy to restore the ville Railroad, and took the present name April 1, 1877. The company
physical condition of the Memphis A Charleston Railroad more rapidly lias done a very fair business and has paid moderate dividends. Of the
than its earnings will provide for, by making temporary advances to stock, $100,000 is preferred; shares $100, rate 7 per cent, payable Mar.
that company, as you have* a right to, imder the lease.” (V. 29, p. and Sept. The last annual report was published in the Chronicle (V.
29, p. 488) for the year ending August 31, 1879, as follows:
382.)
1877-78.
1878-79.
Gross Earnings—
Eastern, Mass.—Boston, Mass., to New Hampshire State line, 41 miles;
$165,364
$156,904
branches, 77 miles; leased lines: Eastern Railroad of N. H„ 16 miles; Passengers
378,162
380,718
Newburyport City Railroad, 3 miles; Portland Saco & Portsmouth 51 Freight
21,282
29,536
miles; Portsmouth & Dover, 11 miles; Portsmouth Great Falls & Con¬ Express, mail, Ac....
17,604
18,210
Rents
way, 71 miles; Wolfeboro Railroad, 12 miles; total leased lines, 154
miles; total operated, 283 miles. This company was formerly a prosper¬
$583,019
Total
$584,703
ous road, paying dividends, but in 1872-74 began the policy of leasing
404,270
other roads and heavily increasing its interest and rental obligations. Expenses
403,909
The company became embarrassed in 1875 and compromised with its
$178,748
Net earnings
bondholders by the issue of a general mortgage to fund all the prior non$180,854
mortgage debts, the new bonds to bear 3*2 per cent for three years from The income account for 1878-9 was briefly as follows:
'■
$180,854
1876, then 4*2 per cent until September, 1882, and 6 per cent thereafter. Net earnings
$80,599
The last annual report was published in V. 29, p. 629. Operations and Interest on bonds and loans
unless your company

,

...

Dividends, 5 per cent
>
50,860
earnings for five years past were as follows:
Gross
Net
Payment on cars bought
Freight (ton)
25,561—157,021
Passenger
Years.
Miles.
Earnings. Revenue.*
Mileage.
Mileage.
Balance, surplus
$23,832
282
1874-5..
75,201,867
35,687,333
$2,766,357 $757,419 The surplus was spent in building the Owensville Branch. (V. 29, p.
1875-6..
282
2*412,140
683,594 459, 488.)
69,453,812
34,224,383
1876-7..
282
2,451,323
68,502,002
39,099,659
799,317
Evatistille Terre Haute d Chicago—Terre Haute, Ind., to Danville, HI.,
1877-8..
282
871,810
2,422,394
39,116,073
61,706,681
55 miles.
Road was opened December, 1871. It uses 6 miles of the
1878-9..
282
2,485,977
65,403,019
44,996,094
994,785 track
of the Rockville Extension into Terre Haute; also leases the
*
Including other receipts.
Indiaua Block Coal road, 14 miles. Since Feb., 1880, a lease to the Chi¬
-(V. 29, p. 537, 629; V. 30, p. 144.)
cago & Eastern Illinois has been under negotiation; terms, $75,000 per
Eastern (N. IT.)—Massachusetts State line to Maine State line, 16 miles. annum and the assumption by the C. & E. I. of all rentals and taxes paid
It was formerly leased for 99 years to the Eastern (Mass.) Railroad,
For the year ending April 30, 1879, the net earnings
by E. T. H. & C
but lessee failed, and a new lease was made from October 1, 1878, for were $94,236
The stock is $158,661. Earnings for five years past
60 years and two months at $22,500 per year, equal to 4^ per cent per were as follows:
annum.
Moody Currier, President, Manchester, N. II.
Years.
Miles. Gross Earnings. Net Earnings.
$229,097
$110,907
55
Eastern Shot'c (Md.)— Delmar to Chrisfield, Md., 38 miles. The road
114,507
235,899
55was sold in foreclosure February 19. 1879, subject to the first mortgage.
98,233
222,782
55
George R. Dennis,President, Kingsland, Md. Act passed Legislature of
209,673
77,224
5o
Md., and signed by Governor (April, 1880,) to reorganize road. Stock,
242.896
94,236
55
$450,000 (partly com. and partly pref.), in shares of $25. Preferred
(V. 30, p. 221, 298.)
to receive 6 per cent dividend before any is paid on common.
—Josephus Collett, President, Terre Haute, Ind
Eel River.— Logansxiort., Ind., to Butler, Ind., 94 miles.
Fitchburg.—Boston, Mass., to Fitchburg, Mass, (double track), 50 miles;
This was
formerly the Detroit Eel River A Illinois Railroad, sold under foreclos¬ branches: Charlestown, 1 mile; Watertown, North Cambridge to Wal¬
ure July 6, 1877, and reorganized under present name Dec. 10,*1877.
tham, 7 miles; Lancaster & Sterling, South Acton to Marlborough, 12
In 1878 gross earnings were $206,855 and net earnings $67,842. In miles; Peterborough & Shirley, Ayer, Mass., to Greenville, N. H., 24 miles
August, 1879, it was leased to the Wabash St. Louis A Pacific Railroad, leased and operated: Vermont A Mass. RR—Fitchburg to Greenfield,
at a rental of 3 per cent per annum on the stock for two years, 4 per 56 miles; Turners Falls Branch , 3 miles; Troy A Greenfield Railroadcent* for three years, and 4Lj per cent thereafter.
(V. 28, p, 276; V. 29, Greenfield to North Adams, 37 miles; total, 190 miles. The Troy A
Greenfield Railroad and the Hoosac Tunnel, owned by the State of Mas¬
p. 226.)
Elizabethtown Lexington d Big Sandy.—Completed road: Lexington, sachusetts, have been operated by this company.— (See V. 29, p. 41, 67.In 1878-9 net income above rentals was $279,740. Operations and earn¬
Ky., to Mount sterling, Ky., 34 miles. This road is intended to be a con¬
nection of the Chesapeake A Ohio. The stock is $200,000. See Y. 29, ings for five years past were as follows:
Div.
Net
Gross
Passenger Freight (ton)
p. 66.
.
•
Earnings. Revenue.* p.Ct.
Years.
Miles.
Mileage.
Mileage.
8
Elmira Jefferson d Canandaigua.—Canandaigua, N. Y., to Jefferson,
152 31,992,341 22,031,844 $1,667,748 $412,872
N. Y., 47 miles. The road was foreclosed and reorganized under present
529,617
1,719,606
152 29,537,753 41,692,039
name Feb. 18, 1859.
556,738
1,792,168
It was leased to New York A Erie for 20 years
152 30,690.340 53,224,939
from Jan. 1, 1859, and the lease transferred to Northern Central Rail¬
583,313
1,794,337
152 32,266,503 68,041,193
road in 1866. Rental, $25,000 per year.
521,958
152
1,980,473
1878-9.
....

....

Elmira d Williamsport.—Williamsport, Pa., to Elmira, N. Y., 77 miles.
This company was reorganized under the present name Feb. 29, 1860,




.

—

—

* Including other receipts.
—(V. 28, p. 17, 526; V. 29, p. 41, 67,

537; V. 30, p. 42.)

Subscribers will confer a great

Date
of

Flint d Pere Marquette—Consol, mort.,sinking fund
1st mort., land grant, 3d series
Flint & Holly RR. (sink’g fund $25,000 per year).
Bay City, E. Saginaw, 1st mort., guar by lessees.
Bay County, issued in aid, guar* by lessees—. —
Construction bonds

Holly Wayne <fc Monroe. 1st mort., sinking fund.
Floreiice EL Dorado d Walnut Valley—1st mortgage

1872
1868

283
190
17
13

65
29
59

781

Size, or

gold,

coupon

1868

1867

Fonda Johnstown & Oloversville— 1st mortgage
Fort Wayne d Jackson—Pref. stock, 8 per cent
Common stock
Fort Wayne Muncie d Cincinnati—1st mort., gold...
2d mortgage

Equipment mortgage
Framingham d Lowell— 1st mortgage bonds
Frankfort d Kokomo— 1st mortgage, gold
Frederick d Pennsylvania Line—1st mortgage
Fremont Elkhorn d Mo. Valley—1st mortgage
Galveston Harrisb.d S. Antonio—1st mort, gold, 1.
2d mortgage

Galveston Houston d Bend, of 1871—1st mort
Geneva Ithaca d Sayre—1st mort., s. f., gold

Georgia Railroad d Banking Co.—Stock
Bonds, not mortgage
do
...4
do
do
Grand Haven (Mich.)—Receiver’s

gr.

500 &c,
500 &c,

100,000
75,000
41,405

r

8
8
10
10

10
8

1*000

1,000,000

8

1877

1,000
1,000

310,000
309,000
800,000
400,000
200,000
300,000
2,000,000
700,000
1,800,000
500,000

7
7 g7
7
7
7
2

1877
1869
1870
1873
1870

10
100
100
109
109
109
26
26
28
51
215
215
50
35

1869
1871
1871
1871
1879

500 <fec.

1,000.
500 Ac.
100 &c.

1,000
1,000
1,000

1*,U00

1874-596.

500,000
690,000
4,300,000
1,000,000

1871
1871

1,000

1878
1872
1870

1,000
1,000

307

345,000
500,000
200,000

,

1877

1,000

1880

1,000

1

v8
7
7
7
7

Is-

1,493,000

100 &c.
100
500

600,000
4,200,000
425,000
1,000,000
156.000

When

Where

Payable, and
10m.
Wh

Payable

Road was opened Decem¬

total amoimt received on sales account being $743,803 70. Opera¬
tions were larger than during any year since 1871, leaving 188,929
acres unsold Dec. 31,1879.
Earnings for five years past were as follows:
Gross Earnings. Net Earnings.
Years.
Miles.

$1,055,053

1877.
1878..

283
283
283
280

1879

280

$358,598
366,074
416,679
438,202

1,141,569

1,000,368
997,965

1,056,017

'

(V. 28, p. 69, 146, 223, 525,599; V. 29, p. 17, 225, 621; V. 30,p.91,117.)
Florence El Dorado d Walnut Valley—Florence to El Dorado, Kan., 29
miles. Operated since August 1, 1877, by the Atchison Topeka & Santa
Fe Railroad at a rental of 35 per cent gross earnings, but not less than 7
per cent on bonds, besides taxes. Stock, $450,000.
Alden Spear, Presi¬
dent, Boston, Mass.

Florida Central.—Jacksonville, Fla., to Lake City, Fla., 59 miles. In
March, 1868, the old road was sold by the trustees (the Florida Atlantic
& Gulf) and this company organized July, 1868. The gross earnings in
1877-8 were $163,892; net earnings, $41,319. The road was ordered
sold September 15, 1879, to satisfy a claim for $197,000, and 9 years’
interest, made by foreign holders of State bonds issued in exchange for
bonds of this company. E. M. L’Engle, president, Jacksonville, Fla.
—(V. 28, p. 599.)
Finishing North Shore d Central.—The mileage was formerly as follows:

Hunter’s Point, N. Y., to Babylon, N. Y., 34 miles; branches—Woodsideto

Flushing, 4miles; Whitestoue Junction to Whitestone, 4 miles; Flushing
to Great Neck, 7 miles; Garden City to Hempstead, 1 mile; Bethpage Junc¬
tion toBetlipage, 2 miles; total, 52 miles. This was a consolidation Aug.
1, 1874, of the Flushing & North Side RR., the Central of L. I., the North
Shore and other minor roads. In May, 1876, they were leased to the
Long Island RR., which failed to pay the rental, but the operations are
included iu that company’s returns. Some of the mortgages have been
foreclosed, and the whole concern is in a transition state, and will bo
until the litigation is finished up.
The paid-up stock was $814,925.
There were in addition to the above, $125,000 New York & Flushing
Railroad 7s, $149,000 North Shore 7s, and $93,000 Whitestone & West¬
chester 7s. Central of Long Island first mortgage foreclosed and road
sold August, 1879. (V. 27, p. 677; V. 29, p. 17, 196, 407.)
Fonda Johnstown d Gloversrille.—Fonda, N. Y., to Gloversville, N. Y.,
10 miles; leased, Gloversville & Northville Railroad, Gloversville to
Northville, 16 miles; total, 26 miles. Road opened December 1, 1870.
The stock is $300,000. Net earnings in 1877-8 were $40,383; in
1876-7, $45,066; in 1875-6, $41,835; in 1874-5, $31,869. W. J. Heacock, president, Gloversville, N. Y.

Wayne d Jackson—Jackson, Mich., to Fort Wayne, Ind, 100

M.
M.
J.

& N. N.Y., Mercli’nts’Ex.B’k.
& S. N. Y., Meehan. Nat. B’k.
do
do
& N.
& J. Newark, N. J., Sav. Ins.
Now York.
& 8.
New York.
& J.
& J. N. Y., Mech. Nat. Bank.
& O. Boston, Bank No. Amer.
& J. N.Y.,Farm. L. <fc Tr. Co.
& N. N.Y., Chatham Nat. Bk.
do •
do
& N.
do
do & N.
& J. N. Y., St. Nich. Nat. B’k.

A.
A.
J.
A.
J.

&
&
&
&
&

A.
F.
J.
J.
J.
J.
J.
.1.
J.

& O.
& A.
& D.

M.
M.
M.
J.
M.
J.

J.
A.
J.
M.

&
<fc
&
&
&
&

O.

Boston, Office,

O.
J.
O.

do
do

Boston.

J.

New York.

Boston and London,
do

Jan.

1, 1876

Jan.

1, 1901

July 1, 1897
Jau.

1, 1907

May 1, 1889

May 1, 1903
July 1, 1900
Mar. 25, 1880
Oct., 1889
April, 1896
July, 1881
April 1, 1891
Jan. 1, 1908
1901
Feb. 1,
June 1,

1910
1895

>

It is leased to Pennsylvania Railroad, which pavs over the net
earnings, which have amounted to very little. Stock, $312,528. John
Loats, President, Frederick City, Md.
Fremont Elkhorn d Missouri Valley.—Fremont
to Wiener, Neb.,
miles.

51 miles. Leased temporarily to Sioux
rental is 33i;* per cent of gross earnings.

President, East Dennis, Mass.

City & Pacific Railroad. The
Stock, $690,000. P. S. Crowell,

San Antonio— Harrisburg, Tex., to San An¬
This was a successor to the Buffalo Bayou Brazos
& Colorado Railway. The road was opened to San Antonio March 1,
1877.
The gross earnings in 1878 were $1,325,845; net earnings,
$792,014. The capital stock is $6,450,000, of which $4,638,794 is paid
in and $1,811,205 is represented by lands and bonds. The bills payable
December 31,1878, were $373,379, including $250,000 due T. W. Peirce,
and the debt due the'School Fund of Texas was $386,627. The first mort¬
gage covers the property and about 1,500,000 acres of land.
The
proceeds of land sales are used to retire the bonds, and a sinking fund of
1 per cent begins in 1880. The land grant is sixteen sections (10,240
acres) per mile. T. W. Peirce, President, Boston, Mass. (V. 30, p. 144.)
Galveston Houston d Henderson of ,1871— Galveston, Texas, to
Houston, Tex., 50 miles. The road was opened in 1853-4 and sold in
foreclosure December 1,1871, and reorganized. Mortgage debt at date
of sale was $5,750,000. In 1876 the guage was changed to 4 feet 8*2
inches. Some of the coupons remained unpaid in the hands of parties
interested in the road, and in 1879 a foreclosure suit wTas threatened by
N. A. Cowdrey, one of the trustees of the mortgage, but a second mort¬
gage will be issued to settle all unpaid claims. In February, 1880, Mr.
Israel Corse, of New York, was elected president. The stock is $1,000,000, of which about one-third is owned by the International & Great
North’n RR. Operations and earnings for five years past were as follows:
Passenger
Freight (ton)
Gross
Net
Years.
Mileage.
Expenses.
Earnings.
Mileage.
Earnings.
1875.. 2.618,496
$554,673
$384,183
$170,490
1876.. 2,714,660
9,776,631
180,214
582,413
402,198
1877.. 2,833,187
7,657,001
452,975
304,103
148,872
1878.. 2,213,944
8,430,962
495,440
290,385
205,055
1879.. 2,416,653
9,928,275
536,847
307,286
229,560
—(V. 28, p. 146, 172; V. 30, p. 43,192.)
Geneva Ithaca d Sayre.—Geneva, N. Y., to Sayre, Pa., 76 miles. Or¬
ganized Oct. 2, 1876, as successor of the Geneva Ithaca <fc Athens RR.,
which had been formed by consolidation of the Geneva & Ithaca and
Ithaca & Athens railroads, May 25, 1874. In 1880 absorbed the Cayuga
& South. RR., 37 miles. The G. I. & A. having defaulted on its interest
was placed ,in the hands of a receiver, March 4,1875, and the road was
sold in foreclosure. Sept. 2, 1876, and this company organized in the in¬
terest of the Lehigh Val. RR. The stock is $850,000 com., and also pref.
stock of $850,000 is authorized. Gross earnings, 1877-8, wTere $264,995;
expenses, $281,134; deficit, $16,138. R. A. Packer is President, Sayre, Pa,
Georgia Railroad d Banking Company.—Augusta, Ga., to Atlanta, Ga.,
171 miles; branches to Wasnington and Athens, 60 miles; total, 231
miles. The Western Railroad of Alabama, purchased in May, 1875, at
foreclosure, is owned jointly with the Central Railroad of Georgia. The
Macon & Augusta Railroad, 76 miles, is owned by this company, and its
earnings are now (1880) included in its operations. The Port Royal &
Augusta Railroad is owned one-fifth by this company.
In February,
1880, a contract was made including this road and the Central of Georgia
to be worked in close connection with the Louisville & Nashville system.
The annual report for the fiscal year ending March 30,1879, was pub¬
Galveston Harrisburg d

tonio, Tex., 215 miles.

lished iu the Chronicle, V. 28, p. 5ul,
The following table exhibits the operations,
of the road for 1878-9 and 1877-8 :

mortgage bonds and interest, and the common stock in place of the old

STATEMENT OF EARNINGS AND EXPENSES

second mortgage bonds. (V. 28, p. 199,300; V. 29, p.301,631; V. 30,p.43.)
Fort Wayne Muncie d Cincinnati.—Fort Wayne, Ind., to Connorsville,
Ind., 109 miles. Opened in 1870. The company defaulted and a receiv¬
er was appointed Nov., 1874.
The bondholders are preparing to foreclose
and reorganize. Elijah Smith, president, Boston, Mass. (V. 30, p. 192.)
Framingham d Lowell.—South Framingham, Mass., to Lowell, Mass.,
26 miles. Road opened Oct. 1, 1871, and was leased from April 1,
1871, to Boston Clinton Fitchburg & New Bedford Railroad Co., and
since Feb. 1, 1879, operated by Old Colony Railroad Co. On Feb. 14,
1880, a lease of the road to B. C. F. & N. B. Co. for 998 years and 4
months, from Oct. 1, 1879, was ratified. The stock is $512,096, and
there are $250,000 8 per cent notes. (V. 30, p. 192, 408.)
Frankfort d Kokomo.—Frankfort, Ind., te Kokomo, Ind., 26 miles.
Road opened August 10, 1874. Capital stock, $600,000. In May, 1879,
this company’s bonds, amounting to $200,000, and stock, amounting to
$600,000, were placed on the New York Board list. The road connects
the Chicago division of the Pan Handle road and the Indianapolis Peru
& Chicago road with the Lafayette Muncie & Bloomington Railroad and
the Logansport Crawfordsville & Southwestern Railroad.
For four
years and five months to December 31,1878, the gross earnings were
$171,234 and net earnings $91,595. In 1879 gross earnings were
$40,896, and net earnings, $22,630. Coe Adams! President, N. Y. City.




May, 1902
Sept. 1, 1888
May 1. 1888
July 1, 1882
Sept. 1, 1887

J. N. Y., F. P. James & Co. July 1, 1902
J. N. Y., Metrop. Nat. B’k. July 1, 1890
Dec. , 1879
D. Augusta, Ga., RR. Bank,
do
do
J.
yearly to 1890
do
do
J.
July 1, 1897
Jan. 1, 1890
do
do
J.

This road is successor to the Fort Wayne= Jackson & Saginaw,
which made default on its bonds and was sold in foreclosure Dec. 3,
1879. The 8 per cent preferred stock was issued iu place of the old first

Frederick d

Bonds—Prinei! pal, When Due.
by Stocks—Last
Dividend.

160,000

certificates

ber, 1874. The company made default on the consolidated bonds, Novem¬
ber, 1875, and part of them were funded. A receiver was appointed in
June, 1879, but reorganization will probably be effected without sale,
and preferred stock issued for the consolidated mortgage bonds, and com¬
mon Btock issued for the old stock—see V. 30, p. 91,117.
The gross earn¬
ings for six months ending Dec. 31, 1879, were $629,817; same time
1878, $566,370; increase, $63,447. During 1879 the land department
disposed of 38,642 acres of land at an average per acre of $19 23, the

Fort
miles.

300,500

Cen

1871

do

and the Cass & Flint River railroads.

$3,559,000
1,880,000

1,000

Flint d Pere Marquette.—Monroe, Mich., to Luddington, Mich., 253
miles; branches: Bay City to East Saginaw, 12 miles; Flint to Otter
Lake, 15 miles; total, 280 miles. The company was consolidated June
4th, 1872, with the Bay City & East Saginaw, the Holly Wayne & Mon¬

~

Amount

500

Flushing North Shored Cent.—1st mort. (Fl.&N. S.)
2d mortgage (FI. & N. S.)
Central of L. I., Extension 1st mortgage

roe,

'

Par
explanation of column headings, &c., see notes
Outstanding
Road. Bonds Value.
on first page of tables.

Florida Central— 1st mortgage,

discovered in tbese Tables*

INTERE8T OR DIVIDENDS.
Miles
of

[vol. xxx.

?

favor by giving immediate notice of any error

DESCRIPTION.
For

AND BONDS.

STOCKS

RAILROAD

30

FOR THE YEAR ENDING MARCH 31.
1877—8.
1878—9.

$154,993

From local passengers
From through passengers
Total freight
..

Mail

receipts and net earnings

36,902
784,711

$175,159
24,744
$731,312

$29,630
8,439
36,871
$1,013,712
$997,718
727,700
659,325
$286,012
$338,392
for 1879 include those of Macon & Augusta
I

,

28,664

Express and miscellaneous
Total

Total

earnings*
expenditures

Net. earnings
*Eamings and expenses
Railroad, 76 miles, for seven months.
Earnings for five years past were as follows:
Div.
Years.
Gross Earnings.
Net Earnings.
p.c.
$1,281,907
$455,809
8
1,194,324
552,646
8
1,143,128
.
500,018
7
1,013,712
286,012
....
997,719
338,393
6
—(V. 28, p. 501.)
Grand Haven.—Allegan to Muskegon, Mich., 58 miles. The Michigan
Lake Shore road was sold in foreclosure June 19,1878, and this company
organized Oct. 18,1878. The stock is $800,000. James W. Converse,
Pennsylvania Line.—Kingsdale to Frederick City, Md., 28 President, Boston, Mass.

KAILROAD

April, 1880.]

Subscribers will confer a great

Grand Rapids rf Indiana—Stock

Ac., see not e

Par
Value.

Amount

Outstanding

1874-65

$100

332

-

69781

.

.

.

.

....

m

m

....

....

....

....

....

....

....

....

.

.

1874-659781
.

.

.

.

.

....

....

.

.

.

....

....

.

.

....

.

...

....

...

.

.

....

....

.

.

.

.

.

.

....

.

....

.

—

Gulf Colorado & Santa Fe—

292

Joseph—Common stock
cumulative)...

$100

....

100

Preferred stock (7 p. c. yearly, not
Missouri State loan
Bonds 1870, convertible

Bonds, secured by

2*0*6

292

$2,500,000 I'd notes.
& Palmyra RR)
City & Cam. RR.)

^

^

.

1853-7
1870
1878

1,000

....

....

15

1st mortgage (Quincy
1st mortgage (Kansas

53

....

1,000

1867

•

•

•

Petoskey, Mich., 332
& Fort Wayne Rail¬
13 miles; Traverse
total, 463 miles. This road was opened in May,

Grand Rapids & Indiana.—Fort Wayne, Ind., to
miles; leased and operated: Cincinnati Richmond
road, 92 miles; Allegan & Southeastern Railroad,

City Railroad, 26 miles;

1874. For the terms of the lease of Cin.
that company in this Supplement.

BONDS.

31

Rich. & Fort Wayne Railroad—

•

Rate per When Where
Cent. '• Payable

$2,800,000
4,000,000

7 g.

J. & J. N.

3,009,000
991,000
576,000
200,000

7 g7
8
7

A.
M.
J.
J.

£3,486,787

•

•

•

& O.
& S.
& J.
& D.

pal,When Due.
Payable, and by Stocks—Last
Dividend.

Whom.

1899

Y., Winslow, L. A Co.

do
do
do
do
N. Y. Union Trust Co.
do
do

1899
1906

July 1,1891
June 1,1905

•

7,500,000

2,582,000
3,111,500

....

6
6
5
5
4
6

500,000

500,000
3,218,149
2,327,808
7,166,910
500,000

£6,037,991
505,753

7

7 g.
7

$3,200,000
1,413,071
(?)
10,000 p.m.
9,168.700
5,083,024
3,000,000
4,000,000
442,000
433,000

A.
J.
J.
J.
J.

& O.

&
&
A
A

London, at Co.’s Office.
do
do
do
do

J.
J.
J.
J.

Columbia, Co.’s Office.
do

....

10

April, 1877
Jan., 1920

do '
do
A O.
London A Montreal.
do
do
A O.
A J. London Joint Stock B’k.
do
do
A D.
do
do
New York.
F. A. A.

....

7
6
8
7
8

do
do
do
do

A.
A.
J.
J.

5
6

1,000.000
500,000

632,237

g
g.
g
g
g.

5-16
2*3

2,125,830

1,200,000

.

Bonds—Princi¬

INTEREST OR DIVIDENDS.

Size, or

Date
of
Road. Bonds

Miles
of

332
1*869
1,000
1st mort., land grant, gold (guar, by Pa. RR).
332
1869
1,000
1st mort., gold, ($2,195,000 are land grant)...
332
1875
1,000
Income mortgage bonds, for $10,000,000
35
1871
1,000
Grand Rapids Newaygo dk Lake Sh.—1st mort. coup.
500 Ac.
46
1875
2d mortgage coup
£25
1,390
Grand Trunk (Canada)—Consolidated stock
£100
1873
New stock for £10,000,000
1875
Debenture stock for £8,000,000 (act of 1874)
’
Canadian debentures
Equipment mort., 1st on all rolling stock
do
do
ao
2d
1st pref. bonds, conv. into 1st pref. stock
"
do
2d
do
2d
do
do
3d
conv
?30
1879
Chic. & Gr. Trunk RR., 1st mort. (for £1,240,000)
£201u
49531
Great Western (Canada)—Common stock
350
£100
Preferred 5 per cent, convertible into common...
350 ’58-’79
Debentures
£100
145 1871-2
New bonds, coupon
1877
Short bonds exchanged for bonds due 76, ’77, ’78.
214
1870
Green Bay A Minnesota— 1st mortgage, gold
143
Greenville <& Columbia— 1st mort.,guar.by State . ..
Various
Bonds not guaranteed (various small issues)
143
1876
New mortgage (for $2,500,000)

Hannibal <& St.

AND

ftiTor by giving immediate notice of any error discovered in these Tables.

DESCRIPTION.

For explanation of column headings,
on first page of tables.

STOCKS

Irredeemable.
Irredeemable.
Irredeemable.
1900

(?)
(?)
Perpetual.
Dec.. 1890

Oct., 1880-82
Aug. 1, 1900
1881 to 1S86

do

....

Aug., 1870

•_

*

J.
M.
J.
F.
J.

A J. N.
A S.
A J. N.
A A. N.

A J.

Y., B’k. No. America.
*

do

do

Y., Farm. L. A T. Co.
Y., B’k. No. America.
do

do

1884-1887

Mar., 1885
Jan. 1,1888
Jan., 1892
Jan., 1886

£16,848 to working expenses, but no transfers to the reserve funds have

been made this half year. After charging the interest on bonds and
debenture stock, &c., the half year’s net revenue exhibits a deficiency
of £10,172, but the credit balance from the previous half year reduces
this to £6,260, which will form a charge against future revenue. The

The Grand Rap. & Ind. RR. is half-year’s dividend on preference stock, amounting to £12,644, has been
also carried forward to the debit of the next half-year. During the half
year £60,000 5 per cent perpetual debenture stock was issued. The
the coupons each year that remain unpaid by the earnings, and on Jan. amount at the debit of capital account had been reduced on July 31,
1, 1880, held $1,862,170 unpaid coupons. F^st mortgage bonds 1879, to £2,156. The charges to capital account in the half-year amount
redeemed by the sinking fund are replaced by income bonds issued. to £20,453. Earnings for five years past were as follows:
Gross
Net
Div.p. c.
The company had land grants amounting to 852,960 acres, and sold
Miles.
Earnings.
Pref.
Earnings.
in 1879 29,105 acres, for $338,630; the total lands yet unsold are 633,- Years.
511
£893,339
£134,614
5
'674 acres. Operations and earnings for five years past were as follows:
511
830,857
Net
177,525
5
see

operated in the interest of the Pennsylvania RR. Co., and $4,000,000 of
the first mortgage bonds are guaranteed by that company, which buys

Passenger
Mileage.

Gross

Freight (ton)

511
527

Earnings. Earnings.
Years.
Miles.
Mileage.
1875......... 332
35,764,557 $1,143,741 $267,108
13,907,593
-8781
316,507
1,137,539
332
33,713,086
14,448,942

-

772,143

183,841

' 860,935

277,079

5
5

348,745 -(Y. 28,*p. 474; V. 29, p*. *i46, 252, 329,*357; 458.)
1,097,107
35,633,459
13,863,997
242,458
1,200,629
42,437,701
Green Bay <£• Minnesota.—Green Bay, Wis., to Winona, Minn., 214
15,184,660
432,645 miles. Road opened December, 1873. The company also uses the traok
332
1,345,134
51,267,197
17,823,880
from Winona to La Crosse, 29 miles, under lease, making 243 miles
—(V. 29, p. 146, 299; Y. 30, p. 91.)
Grand Rapids Newaygo <6 Lake Shore.—Grand Rapids to White operated. There are also 2d mort.'bonds, $779,000, 8 per cents, due Nov.
Cloud, Mich., 46 miles. Extension projected to Flint & Pere Marquette 1,1893, The company made default and was placed in the hands of a
Railroad. A traffic guarantee with Lake Shore & M. S. provides that receiver, and the road was to be sold April 3,1880—(see Chronicle, V. 28,
40 per cent of earnings from this road shall be used to buy up its bonds. p. 401, which gives details as to the holders of bonds, &c. For the year
Gross earnings iu 1879, $130,129; net, $68,313.
Stock is $533,000. ending September 30,1879, from the report to the Wisconsin State Com¬
missioner, the following figures were obtained:
David P. Clay, President, Grand Rapids, Mich.
Total income
$348,690
Grand Trunk (Canada).—Portland, Me., to Detroit, Mich., 856 miles;
r
Operating expenses
,
202,756
branch lines owned or leased, 534 miles; total, 1,390 miles. The follow¬
ing (included in the above) are leased lines: Atlantic A St. Lawrence Excess of income
$145,933
RR., Portland, Me., to Island Pond, Vt., 149 miles; Lewiston & Auburn Taxes
1,222
RR., Lewiston, Me., to Auburn, Me., 6 miles; Buffalo & Lake Huron Rentals (specifying amount to each company), C. & N. W.
Railway, Fort Erie, Can., to Goderich, Can., 162 miles; Chicago Detroit
Railway, and dockage at Green Bay
20,266
& Canada Grand Trunk Junction RR., Sarnia to Detroit, Mich., 59 miles.
Balance for the year, September 30,1879
124,444
trunk line from Portland to Chicago by the
The Grand Trunk forms a
Capital stock authorized by charter
8,000,000
acquisition in 1879 of the Chicago & Lake Huron and other roads be¬ Amount of common stock at date of last report
7,995,900
tween Detroit and Chicago, which are to be consolidated under the
Net cash realized from sale of bonds
2,967,480
name of Northwestern Grand Trunk.
The report for the half year end¬ Amount of unfunded and floating
debt
1,710,616
332
332

>

ing June 30, 1879, was published in the Chronicle, V. 29, p. 510, con¬
taining the following: “ The following is the report of the directors for
the half-vrear ending June 30:
1879.

receipts upon the whole undertaking, in¬
cluding the Buffalo and Champlain lines were.... £832,869
Net receipts
210,988

The gross

Total charges
Balance

1878.

£883,807
213,210

£210,661

327

*

£210,988

“

The amount

brought forward from the December (1878) half-year was
£17,390, out of which a dividend on the first preference stock at the
rate of 1 per cent per annum was paid on the 1st of March last, absorb¬
ing £16,075.” Earnings for five years past were as follows:
Gross

Net

Aggregate of capital stock, funded and unfunded

debt

—E. F. Hatfield, Jr., is president, N. Y. City. (V. 28, p. 401; V.
Greenville <6 Columbia (S. C.)—Columbia to Greenville,

13,686,376
29, p. 631.)

S. C., 144
miles; total, 165 miles.
The company also operates the Laurens Railroad, and owns a controlling
interest in the Blue Ridge Railroad. In 1872-3 the company funded
two years’ interest in new ten-year bonds, and the new mortgage of 1876
was intended to cover all prior bonds.
The old issues include $236,000
1st mortg. overdue; $103,060 2d mortg.; $140,000 non-mortg.; $163,131 funded int.; and $123,500 mortg. bonds due 1895. In 1878 a receiver
took possession. Sold in foreclosure April 15,1880.
Gross earnings.in
1878 were $383,908; net, $181,659, against $180,614 in 1877. James
Conner, receiver, Columbia, 8. C. (V. 27, p. 227; V. 28, p. 553; V. 30
miles; branches to Abbeville and Anderson, 21

322, 384, 408.)
Gulf Colorado <£- Santa Fe— Galveston to Brenham, Texas, 124 miles.
Road opened late in 1878 (63 miles), and sold and reorganized April 15,
1879. An extension completed to Brenham, Tex., 124 miles from Gal¬
veston, April, 1880. John Scaly, President, Galveston, Tex. (V. 30, p.
p.

Earnings.
1,388
£408,475
1,388
407,862 408.)
:
1,388
373,161
Hannibal d) St. Joseph—Hannibal,
to St. Joseph, Mo., 206 miles
1,390
469,851 branches to Kansas City, 53 miles; Mo.,Atchison, Kans., 19 miles; to
to
Quincy, Ill., 13 miles; total length operated, 292 miles. The main line
—(V. 28, p. 453, 474, 553; V. 29, p. 40,146, 252, 301, 510, 511, 537, was opened February, 1859. The company had a Congressional land
631; Y. 30, p. 144.)
grant and received $3,000,000 in bonds from the State of Missouri, on
Great Western of Canada.—Suspension Bridge, Canada, to Windsor, which the company pays interest. The total interest charge per year on
Oh Jan. 1, 1879, the company had about
Canada, 229 miles; Loop line, Glencoe, Canada, to International Bridge, all the debt is $657,320.
145 miles; branch lines, 151 miles; lines leased or operated on contract, 90,000 acres of land unsold and $2,500,000 of land notes, which were
294 miles; total operated, 819 miles.—The last semi-annual report was pledged as security for the bonds issued in 1878, and as $25,000 ia
published in the Chronicle, V. 29, p. 458. The following summary accumulated these bonds are drawn and paid. Last annual report was
exhibits a comparison of the half-year's results with those of the cor¬ published in the Chronicle, V. 30, p. 296, and showed the following
income account:
responding half-year ended July 31,1878.
$153,854
July 31, '78. July 31,’79. Net income over coupon interest
Proceeds of sale of $261,000 land grant sinking fund bonds... 261,430
Gross receipts, including the Galt & Guelph (now
£365,771
incorporated with the main line and branches). £383,460
Miles.

Years.

Earnings.
£2,000,394
1,960,218
1,754,269
1,906,264

Cash working expenses, including renewals (be¬
ing at the rate of 75-43 per cent, as compared
with 75-93 per cent in the corresponding period
last year)

.,

§415,284
equipment, $47,587; reduction of funded debt, $67,000; reduction
275,896 of bills and accounts payable, $68,679.
Earnings and operations for five years past have been as follows:
Total income
This sum was accounted for

291,167

92,293

£89,875

94,024

100,047

Deficit
£1,731
The comparison is therefore unfavorable to the extent of

£10,172

Interest
on

on

bonds, debenture stock, Ac., and loss

working leased lines

Miles.
292
292
292
292

Years.

£8.441. The
expenditure upon renewals during the half-year amounted to £17,716,
of which £868 has been charged to the locomotive and car funds, and —(V. 28,




partly as follows: Construction, $92,315;

new

p.

Passenger
Mileage.
13,674,185
15,191,834
15,639,718

Freight (ton)
Mileage.
52,866,475
76,931,978
80,764,682

19,108,676
21,545,368

111,987,174

Gross
Net
Earnings. Earnings.
$1,748,284 $386,735
1,864,065
470,254
1,931,365
795,479

2,045,450
780,355
1,997,405
773,983
199, 220, 641; V. 29, p. 95, 383, 489; V. 30, p. 296.)
100,012,716

RAILROAD

32
Subscribers will confer

STOCKS AND

BONDS.

[Vol. XXX.

great l'avor by giving immediate notice of any error, discovered in these Tables.

a

■

DESCRIPTION.
For explanation of column
on first page

Miles

Leadings, &c.,
of tables.

see notes

Date

INTEREST OR DIVIDENDS.

Size,

or
Par

of
of
Road. Bonds

Amount

Value.

Outstanding

$50

Rate per

When

Cent.

Payable

Whom.

3ks

J. & J.
J. & J.

Phila., Co.’s Office.

$1,182,550

Where

Payable, and by

Bonds—Princi¬

pal,When Due
Stoclcs—Last
Dividend.

"

r

Harrisb. Portsrn'th Alt. Joy £ Lane—Stock

54
54

1st mortgage

Harrisburg <£■ Potomac—1st mortgage
Hartford <£ Connecticut Talley— 1st mortgage

44

500 &e.

1853
1871

1,000

19587-9781
100
100

120
120
74

Rousatomc—Stock
Preferred stock
1st mortgage
2d mort. bonds of 1809

....

Equipment bonds of 1873

Houst. East cC West Texas— 1st mortgage, gold
Houston <£ Texas Cent.—1st M., (maiil) gold, \.gr.,s.f.
1st mort., 1. gr., West div. (Hempstead to Austin)
1st M., gold. Waco & N’west (Bremond to Ross)
Consol, mort., land grant, Main and Western Div.
do
do
Waco & Northwest

63
345
119
58
464
58

Income*and indemnity bds, 3d M. on road & lands.
Huntingdon <£• Broad Top—1st mort., gold
2d mortgage, gold

58
58
58

700,000
507,200
1,000.000
820,000
1,180,000
100,000
300,000
150,000

_

1869
1873
1878
1866
1870
1873
1872
1875
1877
1854
1857
1865

_

_

_

1,000

180,000

1,000
1,000
1,000
1,000
1,000

6,262,000
2,270,000
969,000

3,642,000
580,000
2,500,000
416,000
367,500
1,500,000
29,000,000
2,500,000
2,500,000
4,393,000
1,000,000
1,600,000

1,000

500
500

5781 1874-965
3d mortgage .consolidated
Illinois Central—Stock

:

1,000

100
500 &c.
£200
£200
£200
1,000

1,256

706
706
706
706
111
37
202
202
202
202

Redemption, 1st and 2d series

Mortgage bonds, sterling
Sterling bonds, (sinking fund £20,000 yearly)....
Mortgage, sterling
Bonds, coup. ($2,000,000) M. on CL. <fc Sp. RR
Bonds, reg. ($200,000), mort. on K. & S. W. RR
Indiana Bloomington <£• West.—1st mort., pref
1st mortgage, coup., may be reg
Income bonds, reg., convertible
..

.

2d mortgage

1864
1875
1874
1875
1877
1878
1879
1879

200,000

1,000

100
500
100
500

1879*
1879

&c.
<fec.
&c.

600,000
3,500,000
1,500,000
1,500,000

&c.

6

7

do

do

<

J.

7
2
7
6
7
7 g.
7 g.
7 g.
7 g.
8
8
7
7 g.
7 g.
7
3
6
6 g.
5 g5 g.
6
6
7
3 to 6
6
3 to 6

&

J. N. Y., Am. Exch. N. Bk.

Q.-J.
F. & A.

M.
J.
J.
J.
A.
M.
M.
A.
F.
A.
M.
A.
A.
A.

J.
J.
F.
J.
A.
J.
J.

.

.

do

.

-

-

•

do

-

New York.
J. N. Y., Nat’l. City Bank.
J.
do
do
do
’ do
J.
O. N. Y., J. J. Cisco & Son.
do
do
N,
N.
do
do
0.
Philadelphia. Office.
A.
do
do
do
do
0.
N. Y., Co.’s Office.
8.
O.
N. Y., Co.’s Office.
O.
London.
O. London,Morton R.& Co.
do
do
D.
N. Y., Co.’s Office.
J.
do
A.
do
New York.
J.
do
O.
do
J.
J.
New York.

& N.

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&
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July 1, 1883
Jan. 1, 1904
Jan. 1, 1901

Bridgeport & Boston. April 15,1880
1885
Bridgeport and Boston.

•

.

10, 1880

Jan.

1889
1883
1898

July 1, 1891
July 1, 1891
July 1. 1903
Oct. 1, 1912
May 1. 1&.5
May. 1887
Oct. 1, 1890
Feb.

1.

1895

April 1, 1895
Mar. 1.

1880

April 1. 1890
April 1. 1895
April 1, 1903
Dec. 1, 1905
Jan.

1. 1898

Jan. 1, 1900
April 1, 1909
April 1, 1919

April 1, 1909

Harrisburg Portsmouth Mount Joy <£ Lancaster.—Dillerville, Pa,, to
Harrisburg, Pa., 36 miles; Columbia Branch: Middletown, Pa., to
Columbia, Pa., 18 miles; total, 54 miles. The property was leased to
the Pennsylvania Railroad Co. for 999 years from Jan. 1, 1861, the
rental being 7 per cent on the stock and interest on the bonds. It is
operated as a part of the main line of the Pennsylvania Railroad.

Illinois Central.—Cairo, Ill., to Chicago, III., 365 miles; Northern Div
ision—Centralia to Dunleith, 341 miles; other lines owned and leased—
Kankakee & Southwestern RR., Otto, Ill., to Chatsworth, Ill., 37 miles;

Harrisburg <£ Potomac—Bowmansdale to Jacksonville, Pa., 25 miles;

This company was organized in March, 1851, and the whole road
opened September, 1855. The terms of the leased lines in Iowa are

branch to mines, 2 miles; total, 27 miles.

Extensions are projected to
Waynesboro and to Littlestown. Road opened through in 1878. Stock
is $369,175. Daniel V. Ahl, President, Newville, Pa.
Hartford <& Connecticut Valley.—Hartford, Ct., to Fenwick, Ct., 46
miles. Opened in 1871 and 1872. In hands of trustees of first mortgage
for sometime, and reorganization made in Feb., 1880, as the Hartford &
Conn. Valley, with stock of $500,000 to $1,200,000 and bonds of $1,000,000. (V. 28, p. 41. V. 30, p. 116, 144.)
leased:

,

Mass

Stockbridge Railroad—West Stockbridge to New York

State line, 3 miles; Stockbridge & Pittsfield Railroad—Vaudeusenville to
Pittsfield, MasR., 22 miles ; New York Housatonic & Northern Railroad—
Brookfield Junction to Danbury, Conn., 6 miles; total, 127 miles. The
preferred 8 per cent stock was issued in 1845 to pay for laying the road
with heavy iron. The company has voted to issue $700,000 of 5 per
cent bonds to take up $400,000 prior bonds, and to lay steel rails. The
road does a steady business, as may be seen from the following state¬
ment of its operations and earnings for five years past:

fivenprovidesthe names of those companies. isThe general $15,000,000.
874 under for all bonds outstanding. It
limited to mortgage of
The Illinois Central was one of the first, and has been one of the
most successful, of the land grant roads.
The company has acrleans
SHired aRailroad, to which it has the Chicago advances, and owns
controlling interest in made large St. Louis & New

$1,600,000. of the first mortgage bonds, $5,023,000 of the second

mortgage bonds, and 61,000 shares of the stock. The Chicago & Springfield Railroad was a reorganization of the Gilman Clinton & Springfield

in 1877, and is leased to the Illinois Central and virtually owned by
it.
The annual report for 1879 says: “Comparing the net traffic with that
of 1878, the increase is $181,691. The net amount yielded in 1879 by
the traffic was $3,196,920, and the net receipts from land, above all ex¬

amounted to $102,572. In' addition, the company received
$102,321 interest on its investment in bonds secured by the first mort¬
penses,

Div.

Years.
1874-5....
1875-6....
1876-7....
1877-8....

—(V. 30,

p.

Miles.
126
126
126
126

Passenger

Freight (ton)

Gross

Mileage.
6,419,375
6,057,566
5,869,968
6,162,592

Mileage.

Earnings.
$680,785
655,236
588,166
569,198

14,368,979
14,557,208
11,658,923
11,528,000

p. e.

Net

of the Chicago St. Louis & New Orleans Railroad Co. Thus the
aggregate net income was $3,401,815. From this fund the company has
paid the interest on its bonds and two dividends on its shares. Itsr busi¬
ness has required additional equipment; 260
freight cars have been
built, and three heavy engines are in course of building in the company’s
shops.

Earnings. Pref.
$212,599
238.413

223,989
208,253

273.)

Houston East & West Texas.—Houston, Tex., to Goodrich, Tex., 63
miles. (Narrow guage, 3 feet.) It is intended to build to Marshall. The
company has a Texas laud grant of 10,240 acres for each mile con¬
structed and equipped. Bonds are issued to the extent of $7,000 per
mile. Paul Bremond, President, Houston, Tex.

gage

The

outlays for equipment, together with the cost of consider¬

able additional side track and important purchases of real estate, as well
as cost of additional double track laid between Cliicago and Hyde Park,
with new station buildings, &c., have also been taken out of the income

account, these construction charges aggregating $386,016. After all
these deductions there is still a balance of income for the year of $617,204, which, added to $1,455,635 at credit of ‘Income’ at the close of

previous year, makes $2,072,839 now carried
that account.” Operations and earnings for
follows:
Years.

Houston d- Texas

Miles.

1,108
1,108

forward to the credit of
five years past were as

Freight (ton)
Gross
Net
Div.
Mileage.
Earnings. Earnings.* p.c.
284,650,911 $7,802,556 $2,670,081
G
264,602,314 7,040,969 2,144,776
249,345,941 6,639,845 2,546,561
306,345,691 7,111,184 3,015,229
335,470,860 7,234,464 3,196,920

Passenger
Mileage.
50,828,505
51,238,031
46,076,845
43,849,207

Central.—Houston, Tex., to Red River City, Tex., 345
1,108
miles; branches: Hempstead,Tex., to Austin,Tex., 119 miles; Bremond,
1,256
Tex., to Ross, Tex., 58 miles; total, 522 miles. Opened March 11,1873.
1,256 44,586,972
The Austin Branch, or Western Division, was opened in 1871. The com¬
Deduct rentals and taxes.
pany has a land giant from the State of Texas of 10,240 acres per mile,
amounting to about 5,240,000 acres; but the lands, as in the case of —(Y. 28, p. 95, 198, 199; Y. 29, p.301; V. 30, p. 91, 218.)
other Texas roads, are not on the line of the road, and much of the land
Indiana Bloomington d Western.—Indianapolis, Ind., to Pekin, Ill.,
will be made available, it is reported, by the construction of the Texas
202 miles; track used on rental, Pekin to Peoria, 10 miles; total operated,
& Pacific liue. The capital stock is $7,722,900. In 1877 the
company 212 miles. This was formerly the Indianapolis Bloomington & Western,
was.embarrassed and application was made for a receiver; but the diffi¬ opened October 1,1869. The company defaulted October 1,1874, and a
culties were adjusted
by the issue of income and indemnity bonds, and receiver was appointed December 1,1874. The road was sold in fore¬
Mr. Morgan of the Louisiana SS. Line
bought a controlling interest in closure October 30, 1878, and the present company
organized. The
the stock. The last annual report, to April 30,1879, gave the following:
new securities wrere placed on the New York Stock Exchange list No¬
Gross earnings
:
$3,031,631 vember, 1879, on the following statement: 1. Preferred first mortgage
Net earnings
1,326,906 7 per cent bonds, due in 1908, to the amount of $1,000,000. 2. First
Interest charges
1,058,315 mortgage bonds, due in 1909, to the amount of $3,500,000. Interest is
Net earnings in 1878
930,042 payable at the following rates: 3 per cent per annum for the first three
GENERAL BALANCE, APRIL 30, 1879.
years, 4 per cent for the succeeding two years, 5 per cent for the suc¬
Construction
$21,870,020 Capital stock
$7,722,900 ceeding three years, and then 6 per cent until maturity. The mortgage,
Equipment
1,831,342 Funded debt
14,586,500 by its terms, cannot be foreclosed for non-payment of interest until
Real estate
January 1,1884. 3. Second mortgage bonds to the amount of $1,500,974,153 School fund loan (State
Lands gr’nt’d by Texas
of Texas)
5,240,000
315,494 000. These bonds are payable in 1919, and bear 3 per cent per annum
Sundry securities
503,780 Bills payable...
2,106,557 interest for the first three years, 4 per cent for the succeeding two years,
5 per cent for the succeeding three years, and 6 per cent thereafter
Materials
and
Accounts payable
sup¬
157,929
plies
146,988 Pay-rolls and vouchers
178,794 until maturity. 4. $1,500,000 income bonds, payable 1919, with such
Bills receivable and
Interest accrued
330,319 interest from July 1, 1879, not exceeding 6 per cent per annum, as the
cash
353,302 Surplus
5,521,091 net earnings may suffice to pay after satisfying the interest and sinking
fund upon the preferred and first and second mortgage bonds. These
bonds are convertible into stock.
5. $2,500,000 capital stock.
Total
6.
$30,919,587
Total
$30,919,587
$830,000 stock scrip, which is entitled to a dividend of 7 per cent per
(V. 29, p. 41, 118, 119 ; V. 30, p. 273.)
annum, after the payment of interest and a dividend of 8 per cent on
Huntingdon d Broad Top.—Huntingdon, Pa., to Mt. Dallas, Pa., 45 the common stock. After the payment of a 7 per cent dividend, the
stock scrip is convertible into common stock. Of the preferred bonds
$600,000 have been issued to pay expenses of foreclosure and prior
*

-

.

liens, and $400,1)00 more may

bonds. The freight business is mainly in coal.
have been as follows for the past five years:
_

.

y£2£8.

Miles.
61
61

61

61

1879-^

61




Passenger
Mileage.
896,'175

1,041,203
752,137
754,787

795,931

Freight (ton)

Gross

Mileage.

Earnings.
$325,011

14.940,303

11,093,975
10,369,597

12,146,492

13,056,514

be issued if needed. Earnings for four

past of I. B. & W. (including extension) and for last year, 1878-9, of
Operations and earnings present company were as follows:
years

272,456
261,410
238,890

253,525

Net
Earnings.
$120,442
95,448
110,077
132,693

141,304

Gross

Miles.

Years.

343

' 343
343
202

•

Net

Earnings.
$1,432,352
1,558,418
1,281,241
1,342,323
1,170,930

Earnings.
$317,044
522,980
334,711
266,079
375,700

—(Y- 28, p. 18, 146, 221, 224, 276, 302, 352, 401, 526 ; V. 29, p.

302, 329, 511; V. 30,

p.

169,192, 384.)

277,

Snlhscribers will confer a great

first page

76578811

2d mortgage

-1st rnort.,

mortgage

in 3 series.

•.

Indianapolis & Vincennes— 1st mortgage, guar
mortgage, guaranteed
d Great Northern—Consol,
1st mortgage, “pureh. money,” gold
2d mort. income “purchase money”
2d

stock

Outstanding

$1,000

1870
1871

.....

....

1,000
500 &c.
100
500 &c.

1869
1877
1870

1862
1866
1870
1878

100 &c.
....

1867

100
500 &c.

1,000
1,000
1,000
1,000
1,000
1,000

1877
1862
1865

1876
1879
1880
1879

161

Gulf—1st m. 1. err. « f

M. & N. N.
M. & S.

July
July
Oct,
July

8

Nov.

do

do

1,
1,
1,
1,
1,

1906
1906

1919
1900
1881.

1908
1900

Y., National City B’k

Boston.
Q.-M.
A. & O. N. Y., Nat. Park
J. & J. N. Y. City, Treas.
New York.
J. & J.

1,*1919

Sept. 1, 1909
Mar. 1, 1880
April 1. 1899
Jan. 1, 1907

Bank.
Office.

1900

1%

Q.-F.

N.

M. & N.
A. & O.
J. & J.

7
7
7

do
do
do
do
do
do
New York.

*

1908

J. N. Y.. Faim. L. & T. Co.
J.
Philadelphia Office.
do
do
0.
J. Lewes, Del., Treasurer.
do
do
A.

July 10, 1907
July 1, 1882
April 1, 1900

O.

April 1, 190®

J.
J.
A
J.
F.
A.

&
&
&
&
&
&

J.

& J.

1890

Feb., 1896

"1910

7

4,000,000

1, 1889
Feb., 1881 May 1, 1881
Oct. 1, 1906
July 1, 1910

Jan.

Y., Farm. L. <fc T. Co.

....

7
7
6
6
6
6
7
8
7

1887 & 1889

J. Honesdale Nat. Bank.
J. N. Y., by Erie Railroad.

J. &
J. &

7
7

400,000
250,000
504,000
600,000

1,000

Jan.

.

455,000
300.000

42

Santa Fe—1st mortgage.
pel* mile)

8
1
7
7

2,000,000
2,000,000
397,000
2,382,000
2,000’,000
(9
454,000
800,000

....

Dividend.

Whom.

....

.

m

6 g.

i

5

A. & 0. New York, Co.’s Office.
do
do
J. & J.
Various N. Y., Union Trust Co.
do
do
A. & O.
do
do
J. & J.
F. & A. N. Y., Farm. L. & T. Co.
do
do
M. & N.

7
7
7
7
8
7
6
.

■

pal,When Due.

and by Stock#—Last

Where Payable

Pay’ble

4,625,000
2,960,000
498,090
4,000,000
1,000,000

45

84

Cent.

300,600

1,000
1,000

1869

6
44
4k>

2d mortgage
Junction dBreakwater—Funded debt (Del. St. loan)
2d mortgage
Kansas Central— 1st mortgage (for $2,400,000)

Kansas City Fort Scott d

1,000

1879
1879

86

Kansas City Burlington d
New mortgage ($15,000

500 &c.

1867
1870

....

Jeff., Mad. & Ind., 1st M. (s. f. $15,000 per year).
do
do
2d mortgage
Jersey City d Albany—1st mort. (for $5,000,000)...
Jersey City d Bergen—1st mortgage
Joliet d Northern Indiana—1st mort., guar by M. C.
Junction (Philadelphia).—1st mortgage

When

2,669,000
2,000,000
1,000,000
500,000
1,700,000
1,450,000
5,500,000
5,624,000
4,724,000

1869

159
159

Rate per

$1,550,000

1,000
1,000
1,000
1,000

184
27
250
31
9
38
226

(Hawley Branch).

Jefferson (Pa.)—1st & 2d morts.

Amount

par
Value.

1876

r519

Imca Falls d Sioux City—Stock
1st mortgage. April 1, ’69
Ithaca Auburn d West.—2nd M. (income for 3 yrs)..
Jacksonv. r Pens, d Mob.—Florida State bonds, gold...

or

1876

152
152
71
71
f 71
117
117
519
519

.

ipment
Equipment 1bonds

Jacksonville Southeast.—Stock

Size

Date
of
of
Road. Bonds

Miles

of tables.

International

Bond 8—Princi¬

INTEREST OR DIVIDENDS.

Indianapolis Decatur d Springfield—1st

Indianapolis d St Louis-

discovered In tbese Tables.

favor by giving immediate notice of any error

DESCRIPTION.
on

33

BONDS.

STOCKS AND

RAILROAD

April, 1880. J]

.

Boston, Co.’s office.

Indianapolis pany’s first mortgage bonds and $1,000,000 of the Florida Central Rail¬
first
and the
placed on the roadbeen inmortgage bonds. Interest has been in default$44,429. road
has
the hands of a receiver. Net earnings in 1878,
(Y.
N. Y. Stock Exchange list in January, 1880. This company is successor
*
28, p. 578, 599.)
to the Indiana & Illinois Central Railroad. The firsts are for $1,800,000
with $1,550,000 issued and outstanding, maturing in 1906, bearing 7
Jacksonville Southeastern.—Jacksonville, to Virden, Ill., 31 miles.
per cent interest; the seconds are $2,850,000 in amount, convertible This was the Jacksonville Northwestern & Southeastern Railroad, pro¬
into stock after January 1, 1885, with the first ten coupons payable
Mount Vernon, 125 miles, and
only out of net earnings but to be paid in scrip if net earnings are jected from Jacksonville to $20,000 per mile, amounting to finished as
above. Bonds were issued at
$600,000.
insufficient, and have thirty years to run ; amount issued, $2,669,000. In 1879 the company was reorganized by the bondholders under this
The stock, of which very little is issued, is $500,000 in $50 shares.
was the former
name without any debt.
me,
M. P. Ayers, Jacksonville, Ill.,
Gross earnings in 1878 Avere $110,347; net, $28,965. The entire road
was opened for business February 9, 1880.
(V. 28, p. 277, 624; Y. 30, president.
p. 67.)
Jefferson.—Susquehanna Depot, Pa., to Carbondale, Pa., 37 miles;
branch:
total, 46 miles.
to Honesdale,
Indiandpolis d St. Lou is.—Indianapolis, Ind., to Terre Haute, Ind., 72 Leased inHawley, Pa., the Erie RailwayPa.,a 9 miles; 7 per cent on the
perpetuity to
at rental of
miles; leased line, St. Louis Alton & Terre Haute, 189 miles, and
bonds, and now operated by the New York Lake Erie & Western. Capi¬
branches, 6 miles; total operated, 267 miles. The lease of the St. L. A. tal
stock, $2,096,050. Edward Clymer, president, Reading, Pa.
& T. H. was guaranteed by two other companies, and suit has been
pending as to the rental. The company is controlled by the Pennsyl¬
Jeffersonville Madison d Indianapolis.—Louisville, Ky., tp Indianapolis,
vania Company, which owns the stock of $600,000, in connection with
the Cleve. Col. Cin. & Ind. Of the first mortgage bonds series “A” arc J. Ind., 110 miles; branches, 116 miles; total owned and operated, 226
miles. The road was leased January 1,1873, to the Pennsylvania Com¬
& J.; series “B,” M._ & S.; series “C,” M. & N. Operations and earn¬
pany, the lessees to pay the interest and sinking fund of bonds and 7 per
ings for five years past were as folloAvs:
cent per annum on the stock. The lease was guaranteed by the Pennsyl¬
Net
Passenger
Freight (ton)
Gross
vania Railroad. Earnings for five years past were as follows:
Earnings.
Indianapolis Decatur d Springfield.—Decatur, Ill., to
The first and second mortgage bonds were

Ind., 152 miles.

S* yf-

.

Miles.
265
265
266
266
266

Years.

Mileage.
11,922,681

10,889,483
8,211,025
10,865,239

12,209,092
—(Y. 27, p. 41, 409, 454, 603; V.

Earnings.
$1,513,881
1,657,863
1,385,874
1,347,246
1,501,458
28, p. 377; Y. 29, p. 95.)
Mileage.
79,811,222
100,902,991
92,684,115
85,300,579
102,630,114

Indianapolis d Vincennes.—Indianapolis, Ind., to

$325,996
431,645
477,882
315,115

500,472

Vincennes, Ind., 117
in the

miles. The Pennsylvania Company owns a controlling interest
stock and operates the road, advancing the deficiency to pay

interest on

$1,402,000. In 1879 the net earnings
were $64,025;
in 1878, $5,349; in 1877, a deficiency; in 1876,
$17,973; in 1875, $32,709. The annual interest on the debt amounts
to $206,000. (V. 28, p. 18, 377.)
the*bonds.

The capital stock is

International d Great Northern— Longview, Texas, to Houston,
miles, and Palestine, Texas, to Austin City, Texas, 181

236

Texas,

miles;

branches—Troupe, Texas, to Mineola, Texas, 44 miles; Phelps, Texas, to
Huntsville, Texas, 8 miles; Houston. Texas, to Columbia, Texas., 50
miles; total, 519 miles, and leased 10 miles, Round Rock to George¬
town. This was a consolidation of the Houston & Great Northern Rail¬
road and the International Railroad of Texas on September 22, 1873.

made default on its bonds, and a receiver was appointed
April, 1878. Sales in foreclosure were made July 31 and October 14,
1879. The plan of reorganization was reported in the Chronicle (V. 27,
p. 95, 331). The stock authorized is $25,000,009. In the reorganization
The company
in

amounting to about 5,000,000 acres, were
conveyed to the second mortgage bondholders in full settlement for their
lien on the road, which avus thereby discharged. The present income
bonds Avere issued for one-half of old mortgages and overdue interest.
Interest at 4 per cent for the year 1879 is paid on these—2 per cent
March 1 and 2 per cent Sept. 1, 1880. Extension of 150 miles is in
progress. Operations and earnings_for five years past were as folloAvs:
Net
Gross

Gross

Years.
1875
1876.../.
1877
1878
1879
-(V. 28, p.

Miles.
459
459
519
519
519

Passenger
Mileage.
7,206,313
7,883.200
9,008,250

7,841,041
7,534,957

(V. 28, p. 351, 428 ; V. 29, p.

Freight (ton)
Earnings.
Mileage.

25,493,465
30,017,844
35,909,691
39,579,080
43,969*649

$1,408,303
1,453,996
1,560,455
1,636,585
1,775,861

Earnings.

$615,963
591,872
466,248
571,983
578,087

41, 120, 357, 459 ; V. 30,p. 91,169,

248.)

City, la., 184 miles.
Illinois Central at a
percentage in 1878
amounted to $166,692 and in 1879 to $168,454. This company also
receives a draAvback of 10 per Cent on business to and from their line
over the Dubuque & Sioux City Railroad;
also a rental from Sioux
City & St. Paul Railroad, Avliicli amounted in 1878 to $17,535. Horace

Iowa Falls d Sioux City.—Town Falls, la., to Sioux
This road Avas opened in 1870 and leased to the
rental of 35 per cent of the gross earnings, Avliich

Williams is president,

Clinton, O.

Y., 27 miles. The
foreclosure, and this

Ithaca Auburn d Western..—Freeville to Scipio, N.
New York & Oswego Midland Railroad was sold in
company

organized Sept. 20, 1876, as the successor.

The stock is

mortgage authorized of $500,000 for
building to Auburn <fc Ithaca, of ay inch $20,000 bonds are issued.
George Opdyke, President, N. Y. City.
$970,000, and there is a first

Jacksonville Pensacola d

Mobile.—Lake City, Fla., to Chattahoochee,

Fla., 150 miles; branches: Junction (main line) to Monticello, 4 mile's;
Tallahassee to St. Mark’s, 21 miles; total, 175 miles. The present com¬

State of Florida issued to the com¬
for $3,000,000 of the com¬

pany was organized in 1870, and the
pany $4,000/000 of State bonds in exchange




Earnings.
$468,281
444,005
499,033
425,887
494,666

378.)

Jersey City d Albany.—Line of road: Jeisey City, N. J., to Tappant0A\m, N. Y., 24 miles. This company was organized September, 1877,
as successor to the Jersey City & Albany, Avhich Avas a consolidation of

Central railroads sold in foreclosure.
The latest information in regard
published in the Chronicle, V. 29, p.
30, p. 144.)

the Ridgefield Park and Rockland
The stock authorized is $10,060,000.
to the progress of the road was
433. (V. 28, p. 624; V. 29, p. 433 ; V.

Jersey City d Bergen— Jersey City to Bergen Point,
earnings Avere $224,817; net, $80,421.
William Keeney, President, Jersey City.
1878 gross

N. J., 6 miles. In
Stock is $110,100.
?

Joliet d Northern Indiana— Joliet, Ill., to Lake Station, Ind., 45 miles.
Operated as part of the Michigan Central main line. Road opened in
1854 and leased to the Michigan Central at 8 per cent on the bonds. The
Michigan Central declined to pay 8 per cent, and the above issue of
bonds definitely guaranteed Avas given as a compromise.

the lauds of the company,

Years.

Div.
p. c.
7
7
7
7
7

Net

Earnings.
$1,224,147
1,171,874
1,176,174
1,150,014
1,248,137

Miles.
161
161
161
185
185

It

3 6 miles
stock,
Dividend, 14 per

Junction {Philadelphia).—Belmont, Pa., to Gray’s Ferry, Pa.,
connects various lines coming into Philadelphia. Capital

Net earnings in 1878 were

$250,000.

$87,963.

cent.

Junction d Breakwater.—Harrington
to Rehobotli, 5 miles; total, 45 miles.

net, $34,2o5.
York

Stock is $305,000.

to Lowes, Del., 40

miles; branch

Gross earnings, 1879, $80,260;

N. L. McCready, President, New

City.

84 miles. Sold under
Reorganized April, 1879.

Kansas Central.—Leavenworth to Onaga, Kan.,
foreclosure of first mortgage April 14, 1879.

Stock, $504,000.

L. T. Smith,

President, Leavenworth, Kan.

Junction to Burlington,
$600,000. Exten¬
Wm. H.
Schofield, President, Burlington, Kan. (V. 30, p. 408.)
Kansas City Fort Scott d Gulf—Kansas City, Mo., to Baxter Springs,
Kan., 160 miles. In Feb., 1880, acquired the Memph. Kan. & Colorado
Railroad, 44 miles. This company Avas organized April 1, 1879, as succes- ;
sor to the Missouri River Fort Scott & Gulf, which made default Oct. 8,
1873, and was sold in foreclosure February 4,1879. The stock is
$4,000,000 common and $2,750,500 8 per cent preferred. The first
mortgage bondholders of the old road took 80 per cent in the new mort¬
gage bonds, and for all other claims stock Avas issued. Operations and
earnings for five years past have been as folloAvs:
Kansas

City Burlington d

Santa Fe.—Ottawa

Kan., 43 miles. Road opened April 1, 1878. Stock,
sion of 700 miles proposed and mortgage for $11,000,000.

Passenger
Years.
1875
1876
1877
1878
1879

Miles.
160
160
160
.....

Mileage.

3,953,320
4,589,110
4,977,670
5,203,933

160

Freight (ton)
Mileage.

23,054,779
30,567*648
28,131,154
32,301,278

Gross

902,094
865,734
833,835

......

(V. 28, p. 42,146,

624; V. 29, p. 538; Y. 30, p.

Net

Earnings. Earnings.
$677,843 $196,910

222.)

229,222
227,177
115,567

tl

34

RAILROAD

Subscribers will confer

a

STOCKS

AND

BONDS.

great favor by giving immediate notice of any error discovered in tbese
Tables*

DESCRIPTION.
Date

of
Road,

of
Bonds

145
274

1879

52

1866

1,000

1877
1877
1853
1855
1878
’69-’72

100 Ac,
100

lOOAc.

2.488,174
792,000
233,000
2,750,000

1879
1879
1879
1879
1880

1,000

2,395,000
500,000
7,000,000
1,815.000

F. & A. N.

1,485,000

August.

2,500,000
1,000,000

M. & N.

454,000

A. & O.
F. & A.
F. & A.
J. & J.

JKansas City Lawrence d Southern— 1st mortgage...
Kansab City St. Joseph d Council Bluffs—Stock
1st mortgage, Council Bluffs & St
Joseph
Kansas City, St. Jo. & C. Bl., mortgage
do

Kentucky Central-—2d mortgage
3d mortgage

*99
99
162
49
38
365
165

Keokuk d Des Moines—1st M., int.
guar. C. R. I. A P.
Knox d Lincoln— 1st mortgage
.Knoxville d Ohio—1st mortgage
Lake Erie d Western—Stock

Size,

or

Amount

1st mortgage, gold
Income bonds convertible (not cumulative)
Lafayette Bloom. A Muncie, 1st mort., gold
200
do
do
income M. con. (non-cumul.)
200
Lake Ontario Southern— 1st mortgage, gold
35
IxUce Shored Michigan Southern—Stock
1181
Guaranteed 10 per cent stock
Consol. 1st mort., (sink, fund, 1 per cent)
864
coupon.
do '
do
do
864
registered
2d mortgage, do. (for $25,000,000)
864
coup, and reg.
Income bonds, coupon or registered
Xst mortgage, sinking fund, M. S. & N. I
3d mortgage (C., P. & A. RR.) registered bonds..
Lake shore dividend bonds, April, 1869
1st mortgage (C. A Tol. RR.)
sinking fund
2d mortgage
do
Buffalo A Erie, mortgage bonds
do
do
do
do
Det. Monroe A Tol., 1st mort., coup., guar
Kalamazoo & White Pigeon, 1st

1870
1870
1873
1872
1855

Par
Value.

Outstanding

100

274

income bonds, reg...

$5,500,000
2,789,413

1,000
1,000
1,000

4 to 6

J.

|

1.000

1,000

1,000
1,000

500 Ac.

1876

1,000

500 Ac.

8,159,000

2,834,000
924,000

400,000

Southern.—Lawrence, Kans., to Coffeyville

gndiana Ter. Santa Fe Railroad, 32 miles; Southern Kansas, 10leased:
City A line), 144 miles; branch to Parker, 2 miles;
miles;
ansas

Kansas City Fort Scott AG.,21 miles; total
owned, leased, and operated,
209 miles. In April,
1880, Southern Kansas opened to Wellington 107
miles from Independence. This company were
formerly the Leaven¬
worth Lawrence A Galveston Railroad,
which was sold in

pal,When Due*
Stocks—Last
Dividend.

do
do

1909

*

do
do
do

do

N.1Y., Union Trust Co
N.y.,Grand Cent.Office
do

do

|J1*S

&
&
A
A
A
A
A
A
A
A

D.
O.
N.
O.
O.
J.
O.
J.
S.
O.
F. A A.
J. A J.
A.
M.
A.
A.
J.
A.
J.
M.
A.

849,000
200,000
300,000

1869

Whom.

Y., Metropolitan Bk

Q.-J.

J.

9,350,000
3,150,000
5,255,000
920,000

1,356,000
1,595,000

1,000
1,000
1,000
1,000

Payable, and by

Boston, Office.

Yearly.

49,466,500
533,500

1,000
1,000

& J.

Bonds—Princj

J. A*J.
Boston, at Office,
J. & J.
do
do *
A. & O.
do
do
M. & S. N. Y., Bank of America.
J. & D.
do
do
A. & O. N. Y.,Farm. L. AT. Co.
Various Bath, First Nat. Bank.

500,000

'

1,000
100
100

Rate per When Where
Cent.
Payable

4,495,522

1,000
1,000

1867
1869
1855
1866
1862
1866
1868

mortgage

Kansas City Lawrence d

INTEREST OR DIVIDENDS.

Miles

.For explanation of column headings, Ac., see note
on first page of tables.

do

[Vor,. XXX,

fhlf
e & +■*
—'
rj
c

o

.

+3

Ct

® o

Jan. 1, i880
Jan. 1, 1907
Jan. 1, 1907

March, 1883
June, 1885
Oct. 1, 1923
1880-1902
Jan. 1, 1892

Aug. 15. 1919

Aug. 15, 1899
May 1, 1919
May 1, 1899
April 1, 1910

Feb. 2. 1880
Feb. 1, 1880
July 1, 1900
July 1, 1900
Deo. 1, 1903
Oct. 1, 1882
May 1, 1885
Oct. 1, 1892
April 1, 1899
July 1, 1885
April 1, 1886
July 1, 1882
Sept. 1, 1886
April 1, 1898
Aug. 1, 1906
Jan. 1, 1890

Creek RR.

The line is from Sodus Point, N. Y„ to West
Branch, Potter
County, Pa., 155 miles, of which 34 miles is in operation. The stock is
$2,800,000, and bonds issued at $20,000 per mile of completed road.
E. B. Pottle, President, Newark, N. Y.

Lake Shore d Michigan Southern.—Buffalo, N. Y., to
Chicago, Ill., 540
foreclosure miles; branches owned, 324 miles.
Other lines owned as follows:
August 9,1878, and purchased by bondholders, and the
present com¬ Detroit Monroe A Toledo, 62 miles; Kalamazoo A White
pany organized May, 1879.
The capital stock is $(?).
Pigeon, 37
In 1878 the miles;'Northern Central (Michigan), 61
net earnings were $158,265; in
miles; total, 160 miles. Roads
1877,
in 1875, $143,483. The present bonds $144,365; in 1876, $219,374; leased are as follows: Kalamazoo Allegan A Grand Rapids, 58 miles;
carry 4 per cent till 1882; 5 in Jamestown A Franklin, 51
miles; Mahoning Coal Railroad, 43 miles;
1882-3; and 6 after.—(V. 28, p. 42, 351, 401, 623; V. 30, p.

384.)

Kansas City St. Joseph d Council
Bluffs—Kansas City, Mo., to Council
Bluffs, la., 199 miles; branches, 5 miles; Chicago line: Amazonia to Iowa
line, 50 miles; total, 254 miles. Line actually owned is 249
miles, and
the other 5 miles are used on the track of
connecting roads. In 1874
overdue coupons to the amount of
$640,200 were funded in 7 per cent
notes. Afterwards

default

was

was

again made, and

a

carried out, under which the stock and
bonds

Nathaniel Thayer is president,
Boston, Mass.
far four years past were as follows:
1876.

Passenger mileage

Total income

$
.' 1,241,329
413,625
413,625

Disbursements—
Rentals paid

1877.

$

$

1,423,797
510,397
*621,034

Miscellaneous, interest, Ac.

25,413
401,614
55,000
12,066

Balance, surplus..,

180,468

above.

debt

Total road owned, leased, and operated, 1,177 miles.

This company was a consolidation of

$
1,768,154
779,388

1,533,650
517,822
517,902
$
29,763

779,388
$
36,895

349,685
40,000
10,121

354,368
40,000
5,991

August 16, 1869. The consolidated line em¬
braces the former roads of the Cleveland A Toledo and the
Cleveland
Painesville A Ashtabula railroads. The last annual
report is published in
V. 28, p. 473, containing the tables below,
showing the operations and
the earnings of the road for a series of years. The financial
results of
the nine years since consolidation are shown
by the following condensed,
table:

88,333

Operating

Gross
Year.
1870..
1871..
1872..
1873..
1874..
1875..
1876..
1877..
1878..

Miles.

1,013
1,074
1,136
1,175
1,175
1,175
1,177
1,177
1,177

Expenses.

Earnings.

$13,509,236
14,898,449
17,699,935
19,414,509
17,146,131
14,434,199
13,949,177

65*64
66*90
70*90
65*04
72*96
68*64
66*37
60*70

5

13,505,159
13,979,766

342,134

Kentucky

Years.
1875-76
1870-77
1877-78
1878-79

Miles.
99

149
149
149

Gross

Earnings.
$663,113
706,476
648,342
553,389

Earnings.
$307,572
304,007
246,694
208,750

Divid’s, p.ct.—*
Pref.
6
6
6
6

-

Com.
3^
4
3
2

Keokuk, d Des
Moines.—Keokuk, la., to Des Moines, la., 162 miles.
This was a reorganization,
January 1, 1874, of the Des Moines Valley
Eastern Division, sold in
foreclosure October 17, 1873. The
property
was leased for 45
years from October 1,1878, to the
Chicago Rock Island
As Pacific Railroad on the terms
following: that the lessee pay 25 per
cent of the gross
earnings to this company, but guarantee the interest
<not the principal) on the present bonds. The stock is
$1,524,600 of 8
per cent preferred and
$2,600,400 of common, a majority of which is
held by the lessee. In the
year 1878-9 gross earnings were $565,556,
showing a small surplus balance to this company.
Knox d Lincoln.—Bath, Me., to
Rockland, Me., 49 miles. The road was
opened in November, 1871. In the year
ending September
£TOS8 earnings were $111,000 and net earnings $56,937. 30,1878, the
The stock is
•$354,580. On city and town bonds, interest is
paid by the municipali¬
ties. John T. Berry,
President, Rockland, Me.
Knoxville d Ohio.—Knoxville,
Tenn., to Careyville, Tenn., 38 miles.
This was formerly the Knoxville A
Kentucky Railroad, which was in
default to the State of
Kentucky and sold October 8,1871. It is con¬
trolled by the East Tennessee
Virginia A Georgia. Net earnings, 1877-8.
$36,262. The stock is $1,080,100. C. M.
McGee, President,

Knoxville,

Tenn.

Lake Erie d Western.—From
Fremont, O., to Bloomington, III., 365
miles. Tills was a
consolidation, December 12, 1879, of
Bloomington A Muncie and the Lake Erie A Western. Thethe Lafayette,
line embraces
the former Lafayette
Bloomington A Mississippi road and the Lake Erie
A Louisville. (See the
following pages in the Chronicle : V. 29. p. 329.
407, 538, 631;

V. 30, p. 17.)

Ontario Southern.- This

company was a
1879, of the Ontario Southern, and the Geneva consolidation, Dec. 2,
Hornellsvillo A Pine




‘2,121,164
2,201,459
2,654,560
3,008,193
2,810,294
2,759,989
2,775,657
2,718,792

5,860,409
5,667,911
5,993,760
3,902,698
4,374,341
4,541,193
5,493,165

3*4
2

3*4
2
4

freight and passenger business

5,513,398

$
11,918,350
9,639,038
9,405,629

999,342,081
943,236,161
1,133,834,828
1,080,005,561
1,340,467,821

1878.. 6,098,445

Cost
Profit
ton per ton per ton
pr. mile. pr. mile. pr.mile.
per

Revenue.

one

1874.. 5,221,267
1875.. 5,022,490
1876.. 5,635,167
1877..

Receipts

Tons
mile.

Tons.

Cent.
1*180
1*010
*817

9,476,608

10,048,952

*864
*734

Cent.

'

Cent.
*413
*273

*767
•737
•561
•573

•256
•291

•474

•260

PASSENGERS.

Receipts
»

Net

Div.
p. c.
8
'8
8
4

FREIGHT.

Year.

,

and dividends

5,118,643

The following condensed tables show the
for the past-five years, 1874-1878:

t Deficit

Central.—Covington, Ky., to Lexington, Ky
Paris, Ky., to Maysville, Ky., 50 miles; total, 149 miles. 99 miles, and
This was for¬
merly the Covington A Lexington Railroad, which was
foreclosed in
1865. In 1875 the present
company was formed, and took possession
May 1, 1875. The Maysville A Lexington Railroad was taken
Nov.
17, 1876. The preferred stock is $500,000 and the
common stock
$4,500,000. In May, 1879, dividends were paid of 3
per cent on pre¬
ferred stock and 1 per cent on common.
Operations and earnings for
four years past were as follows :

Interest, leases

Net

Per cent. Earnings, on Guar. Stock,
61*95
$5,140,415 $1,828,897

*

Includes $110,637 accruing from
reorganization of debt.
—(V. 28, p. 350, 599; V. 30, p. 382.)

the Lake Shore Railroad and

Michigan Southern A Northern Indiana Railroad May 27,1869, and the
Buffalo A Erie Railroad

1879.

$

177,635

on

as

1878.

$
.28,790
367,266
37,000
10,343

Interest
Taxes

issued

Comparative statistics

11,460,005 11,800,946 12,903,214 15,344,857
36,057,168 41,812,696 56,703,846 73,986,732

Freight (tons) mileage

"Total gross earnings
Net earnings

plan of re-adjustment

were

total, 152 miles.

Year.

Passengers.

Passengers
one

mile.

Revenue.

$
4,249,022
3,922,798
3,664,148

.

Cost per

per pas¬
senger
per mile.

passen¬ per pas¬
ger per senger
mile.
pr. mile.

Profit

Cent.
Cent.
Cent.
2*452
1*595
*857
2*378
1*735
•643
175,510,501
2*090
1*438
•652
138,116,618 3,203,200
2*319
1*539
•780
133,702,021 3,057,393
2*287
1166
1121
The statement of the road issued in December for
the year 1879, as
compared with 1878, the months of November and December
being
1874..
1875..
1876..
1877..
1878..

3,096,263
3,170,234
3,119,923
2,742,295
2,746,032

partly estimated,

173,224,572
164,950,861

was as follows:

Earnings, 1879.

Freight
Passengers
Other

$11,279,503
3,128,460
767,037

$10,048,952
3,057,393
873,421

$15,175,000

$13,979,766

sources

Operat’g expen. and taxes, Ac.
Net

Deduct—Interest

Earnings, 1878.

on

funded

debt, rentals, Ac

8,895,000 (58*62

$6,280,000

8,486,601 (60*70

p. c.)

$5,493,165

2,723,000

Equal per share

Dividends—Aug., 1879, 2^;
Feb, 1880, 4

c.)

2,718,791

$3,557,000
($7 19)

p.

$2,774,374
($5 61)

3,215,322

Surplus

$341,678

—“

which has been disposed as follows, to wit:
Ashtabula accident, $58,672;

was

charged to construction

Sinking Fund, $250,000;
balance,$33,005; total, $341,677. Nothing
or

equipment in 1879.

The operating ex¬
The miles of track now laid with
operating expenses is about $250,000

penses include 9,500 tons steel rails.
steel rail are 1,100. Included in

expended for additional equipment, improvements at Ashtabula
Harbor,
Ac., which items have heretofore been charged to construc¬
tion.” (V. 27, p. 602, 645; V. 28,
p. 473, 618; V. 29, p. 170, 602, 657.)
real estate,

Miles •Date
Size, or
Par
of
of
Road. Bonds Value.

of tables.

Lake Shore dk Michigan Southern—(Continued)—
Schoolcraft & Three Rivers. 1st mortgage
Kalamazoo & Schoolcraft, 1st mortgage

Kalamazoo, Allegan <fc Gr. Rapids, 1st mortgage,
do
do
stock, 6 per ct. guar.
Jamestown & Franklin, 1st mortgage
do
do
2d mortgage
Lawrence—Stock
1st mortgage
Leavenworth Atch. dk N. W.—1st mort., guar
..
Lehigh dk Lackawanna— 1st & 2d mortgages
Lehigh Valley—Stock, common andpref

1st mortgage, coupon and registered
2d mortgage, registered
Consol, mort., gold, $ & £ (s. fd. 2 p.c. v’ly) cp.<fc reg.
Easton & Amboy, 1st mortgage (for $6,000,000).
Delano Land Company bonds, endorsed
Little Miami—Stock, common
1st mortgage

1876-.

Street connection bds (jointly with Cin.& Ind.RR.)
Little Rock dk Fori Smith—New stock
1st M., ldgr’t (1,083,000 acs) s.fd. (for $3,000,000)
Little Rock Miss. River dk Texas—1st mortgage.. —
Little Schuylkill—StocK
1st mortgage, sinking fund, extended 1877

Long Island—Stock
1st mortgage, extension
1st mortgage, Glencove Br.. *
1st mortgage, main
2d mort. for floating debt ($1,500,000)
Newtown & Flushing, guar
New York &

35

BONDS.
discovered in tbese Tables.

Bonds—Princi

INTEREST OR DIVIDENDS.

DESCRIPTION.
first page

AND

by giving immediate notice of any error

Subscribers will confer a great favor

on

STOCKS

RAILROAD

April, 1880.]

12
13
58

*51
51
22
17
21
25

301
101
101
232
60

Rockaway, guar. int. only

1863
1869
1865
1870
1877
1868
1870
1873
1880

196

84
•

•

•

•

165
165
100
31
31
158

1853
1864
m

m

m

m

1875
1876

1877
m

m

m

m

1860
1864
1868
1878
1873
1871

Rate per
Cent.

100,000
840,000
610,000
410,000

....

i*,doo

500,000
450,000

1,000

Where

When

►

See

•

•

1874-569

50
500
500 &c.
500
100 &c.
500
500

1871

500

- Lawrence Junction, Pa., to Youngstown, O., 18 miles, with
branch from Canfield Junction to Coal Fields, O., 4 miles. The branch
was built by another company and merged in this company April 23,
1873. The Lawrence Railroad was leased June 27, 1869, to Pittsburg

Lawrence

a

Fort Wayne & Chicago Railroad at 40 per cent on gross earnings, with
$45,000 per year guaranteed as a minimum. Lease has been transferred
to Pennsylvania Company, by which the road is now operated.
Sinking
fund has $19,000 bonds, deducted in amount of bonds given above.
Gross earnings in 1879, $173,452; net earnings, $78,074; rental re¬
ceived from lessee, $69,380.

3,260,000
>.,175,000
150,000
1,121,500
986,772
106,500
250,000
600,000

preceding page. *

Oct
1, 1879
Var.to J’ly,’97
June 1. 1894

April, 1880
Pittsburg Office.
Aug., 1895
Y., Winslow, L. & Co.
Y., B’k of Commerce. Oct. 1, 1889
Dec. 1, 1907
Philadelphia.
April 15,1880
Philadelphia, Office.
Q.—J
J. & D. Reg. at office, cp.B’kN.A
dune, 1898
M. & S.
Sept., 1910
Philadelphia, Office,

F. & A. N.
A. & O. N.
J. & D.

Is-

•

July 1, 1887
July 1, 1887
July 1, 1888

Q.—J

7
7

J. & D.
M. & N.
J. & J.

500,000
7
600,000
1
50
27,428,855
6
5,000,000
1,000
7
1.000
6,000,000
14,304,000
1,000
1,000 leld by L. Y.
7
1.697,000
1,000
50
2,
4,637,300
6
1,492,000
1,000
6
475,000
1,000
4,096,000
*7*
500 &c.
2,650,000
7
1,250,000
50
2,646,100 3*2 & Ljx
;
7
468,000
1,000
•

Dividend.

10m.
Wh

A. & O.
J. & J.
J. & D.

2ifl

336,000

1,000
1,000
1,000

Stoc ks—Last

Payable, and by

Payable

J. & J.
j; & j.
j. & j.

8
8
8
3
7
7

$100,000

$....

50

1872

95
156
4
10
19

Smithtown & Port Jefferson

1867
1867
1868

Amount

Outstanding

pal,When Due

do
do

*

& J.

Various
J.

1920

Jan., 1892
March, 1880
0)

Philadelphia Office.
Cincinnati.

Q.-M.

J.

1898 & 1923

do
do

& * J.

1894
Jan. 1, 1905
Jan. 1, 1896

Boston, Treasurer.

J. & ' J.
A. & O.

Jan., 1880
Oct., 1882

Philadelphia Office,
dol

1873

Company’s Office.

M.'&N. N.Y., Drexel, M. <fc Co.

*7*

M.
M.
F.
M.
A.
M.

6
7
7
7
7
7

do
do
do
do
do
do

do
do
do
do
do

& N.
<fc N.
& A.
& N.
& O.
& S.

May, 1890
May, 1884
May, 1898
Aug. 1, 1918
May, 1891
April, 1901
Sept., 1901

do

St. Louis Rail¬
Pennsylvania.
party to the contract and guarantees its faith¬

branches, &e., was leased to the Pittsburg Cincinnati &
road Company for 99 years, renewable forever.
The
Railroad Company is a
ful execution. Road is now
rental is 8 per cent on
annum for Little Miami Company’
ment of the lessor’s lease obligation

is also stipulated.

Gross earnings in

1878, $1,223,691, and in 1879, $1,332,495; net income, $384,621 in
1878, and $550,233 in 1879, including $109,444 each year from interest,
&c. (Y. 28, p. 378; V. 30, p. 382.)

Little Rock dk Fort
Northwestern.—Leavenworth, Kan., to Atchis¬ In December, 1874, Smith.—Little Rock, Ark., to Fort Smith, 165 miles.
the property (then 100 miles), including the land
on, Kan., 21*3 miles. Leased to the Pacific of Missouri July 1,1870, at
grant, was sold in foreclosure. This company afterwards built 65 miles,
$42,500 per year. Afterwards, when Pacific of Missouri was reorj
and opened the road to Fort Smith July 1,1876. The coupons of July*
ized as Missouri Pacific, lease was modified. Capital stock, $500,0'*
1879, and January, 1880, were funded into 7 per cent notes. In the
Lehigh dk Lackawanna.—Bethlehem, Pa., to Wind Gap, Pa., 25 miles. year 1878 the gross earnings were $288,647 and net earnings $171,789,
This coal road was opened in 1867.
It is leased to the Lehigh Coal but recently the company has shown a large increase in earnings. The
& Nav. Co., and operated by Central Railroad of New Jersey.
Of the land grant is about 1,000,000 acres, and land sales have been active.
above bonds, $100,000 are a first mortgage, and the $500,000 second —(V. 28, p. 401; Y. 30, p. 17, 43,192, 384.)
mortgage are income bonds. Capital stock, $375,100. Gross earnings in
Little Rock Mississippi River dk Texas.—Arkapolis, Ark., to Pine Bluff,
1879 $31,942; net earnings, $7,894.
75 miles, and Arkapolis, Ark., to Cullins, 25 miles; total, 100 miles.
Lehigh Valley.—Phillipsburg (Penna. line), N. J., to Wilkesbarre, Pa., Additional branches were opened in February, 1880. This company was
101 miles; branches—Pen Haven to Audenried, 18 miles; Hazle Creek a reorganization of the Little Rock Pine Bluff & New Orleans Railroad
Bridge to Tomhicken (and branches), 34 miles; Lumber Yard to Milnes- and the Mississippi Ouachita & Red River Railroad. Both those com¬
vllle (and branches), 18 miles; Black Creek Junction to Mt. Carmel (and panies received land grants and State aid bonds. The stock is $2,606,(V. 30, p. 169.)
branches), 59 miles; Slatedale branch, 3 miles; owns the Easton & 900. J. E. Redfleld, President, Boston, Mass.
Amboy Railroad, Amboy, N. J., to Pennsylvania line, 60 miles; total
Little Schuylkill.—Fort Clinton, Pa., to Catawissa Railroad Junction,
owned and operated, 293 miles. This is one of the most important of
28 miles; two branches, l^j miles each, 3 miles; total, 31 miles. The
the so-called “ coal roads,” and has been able to maintain moderate
East Mahanoy Railroad was leased January 12,1863, for 99 years, and
dividends during the past years of depression. It is one of the peculiari¬
sub-leased to Philadelphia & Reading July 7,1868. The Little Schuyl¬
ties of the company’s annual report that no general balance sheet is
kill Railroad is leased to the Philadelphia & Reading Railroad for 93
given. The earnings, expenses and income account for the fiscal year
years from July 7,1868, at a fixed annual rental. Of the stock, $158,250
ending Nov. 30,1879, were as follows:
is held by the company, and no dividends are declared on this.
Net
Gross
Lo'iig Island.—Long Island City, N. Y., to Greenport, N. Y., 95 miles ;
Receipts.
Expenses.
From—
Receipts.
$2,157,771 branches, 63 miles; total owned, 158 miles. Other roads controlled and
$1,853,673
Coal
o. ...$4,011,444
628,579 operated in 1878-9 were as follows:
859,998
Freight
1,488,578
Name—
Miles.
148,993
Name—
Miles.
283,309
Passengers, Express & Mail.
432,302
Central Extension RR. i
8*1

Leavenworth Atchison dk

Smithtown & Pt. Jefferson RR.
Stewart RR
Stewart RR
New York & Rockaway RR...

19*0
14*5 Whitestone branch
1*8 Great Neck branch
8*9 Woodside & Flushing branch..

4*0
6*7
3*9
t $140,467 Brooklyn & Jamaica RR
*$540,054
9-6 Southern RR & So. Side RR. 51*5
Increase (*) or decrease (t)... *$399,587
1*5
Newtown & Flushing RR
3-9 Hunter’s Point
The income from all sources, including interest received from invest¬
9*4
New York & Flushing RR
2*7 Far Rockaway branch
ments, &c., amounted to
$6,540,363 F. N. S. & Central
5*3
15*9 South Hempstead branch
Operating expenses of the road
2,996,981 The total of all the roads owned and operated is 325 miles. The Loi
The Long
Net income
'.
$3,543,382 Island Railroad was doing a fair business, and paid its interest and
an occasional dividend until
the company was saddled with the
Out of which there w as paidy Mr. Poppenhusen. The
$1,557,900
interest on Bonds
Totals
1878

$2,996,981
2,456,926

$5,932,325
5,532,738

Dividends—four per cent on Common Stock
General expense, interest on floating debt,
Morris Canal and on coal operations

$2,935,344

taxes, loss on

3,075,811

1,095,523
866,595

.,

on

these roads, and

Messrs. Drexel, Mor¬

of Mr. Poppenhusen, and

gan & Co. were large creditors
lateral much of the long Island

held as col¬

Railroad stock. The second mortgage
$3,520,019 bonds are issued to take up floating debt of various classes. Several of
the leased roads have been foreclosed under their mortgages, and are
operated under
arrangements. The annual report for
Leaving
$23,363 nowfiscal year ending temporary 30,1879, published in
the
September
the Chronicle,
to be carried to the credit of the profit and loss account. Operations and V. 30, p. 65, made the following exhibit;
1877-8.
1878-9.
•amings for five years past were as follows :
$1,524,932
Div.
•
Net
Gross
Mis. Freight,
Passenger
Earnings.* Earnings. p. ct.
Mileage.
Miles.
Years.
Mileage.
$6,046,495 $2,783,633 10
1874^5.. 267 17,416,448
9
3,206,897
7,049,647
69,902,718
302 33,388,877
1875-6..
5*fl
3,325,215
6,488,037
301 16,657,397
86,712,311
r
4
3,075,811
5,532,738
303 13,718,758 112,557,966
1877-8..
4
2,935,344
5,932.325
303 15,082,571 150,540,605
1878-9..
*
Does not include receipts from interest, <fcc., which are large.

58,912^500

—(V. 28, p. 95 ; V. 30, p. 91, 219.)

Cincinnati to
Columbus, Ohio, 120 miles; branches—Xenia to Springfield, Ohio, 19
miles; Xenia, Ohio, to Richmond, Ind., 57 miles; total, 196 miles. The
Little Miami Railroad proper extends from Cincinnati to Springfield, but
the portion between Xenia and Springfield is now operated as a branch;
for the remainder of the main line, as given above, the Columbus &
Xenia road, Columbus to Xenia, is used. The Little Miami road was
opened in 1846 and the Columbus & Xenia in 1850, and on November
30,1853, a partnership contract was entered into between the two com¬
panies. On January 1,1865} they leased the Dayton & Western (Dayton
to Indiana State line) and the Richmond & Miami (State line to Rich¬
mond), and on February 4,1865, purchased the road from Xenia to
Dayton; these three roads go to form the branch of 57 miles given
above. The partnership agreement was dissolved November 30,1868,
and a contract made by wnich the Columbus & Xenia road, including
Little Miami.—Road operated is as

follows: Main line,

its interest in the above-named branches, was
for 99 years. On December 1, 1869,




leased to the Little Miami

the Little Miami, with all

its

$1,617,9*49

receipts
Operating expenses

Total

1,279,590
$338,359

$1,279,590

$1,019,000

205,173
193,304

196,606
145,614

107,660
138,350

39,400
•20,000

31,799

104,683

$1,506,328

construction were as follows:
1878-9.

Transportation expenses
Interest
Rentals of other roads

Proportion of earnings for other
ferries
Funded debt

roads and
L.

Floating debt accrued previous to
ment of receiver

Total

$505,952

$1,955,878

Net earnings
Payments other than for

1,019,000

appoint¬

:

1877-8.

1878-9 payments of $111,240 were made on account of con¬
and equipment. Earnings for five years past were as follows
Gross
Net
Miles.
Earnings,
Earnings.

In the year

struction
Years.

.

-(V. 28, p. 378 ; V. 30, p. 65,

$828,840
1,149,897
1,473,178
1,497,914*

199
320
323
323

325

322.)

-

l,559,976.Yil*

$213,5u4
398,73?

280,617

136

RAILROAD

Subscribers will confer

a

STOCKS

AND

BONDS.

great favor by giving immediate notice of any error discovered
in tlicse Tables.

DESCRIPTION.
Miles

18746-;5.

1874-965

Lykens Talley—Stock

of

Size,

Road. Bonds.

Louisv.Cin. d-Lex —Louisv. l’n(to Louisv.& Frankf.)
Louisville Cincinnati A Lexington, 1st mort
New mortgage, coupon, for $1,000,000
Louisville <& Nashville— Stock
Louisville loan, main stem (no
mortgage)
Lebanon branch, Louisville loan
Lebanon branch, 1st mortgage..
do
extension, Louisville loan
^Cecilian Branch. 1 st mortgage
Consolidated 1st mortgage for $8,000,000
2d mortgage bonds, gold, coup
Memphis A Ohio, 1st mort., sterling, guar
Memphis & Clarksville br.. 1st mort., sterling
Mort. on Ev. Hen. & .N., gold, (for $2,400,000)...
Debenture bds (sec’d by Nash. A C. stock in trust).
Louisville New Albany & Chicago—Stock

65
175
175
966

1851
1867
1877

or

Par
Value.

1856
1803
1863
1877
1868
1873
1871
1872
1879
1880

Maine Central—Stock
1st mortgage, consolidated
Bonds ($1,100,000 loan) A. &. K. RR..
Extension bonds, 1870, gold
Maine Central loan for $1,100,000
Leeds A Farmington Railroad loan
Androscoggin Railroad, Bath City loan
Portland & Kennebec, 1st mort., extended
do
do
consolidated mortgage....
Manchester d: Lawrence—Stock. J

•

•

•

225.000

1.000

88,000

1,000

333.000

1,000
£200
£200

1,000

304
55
18
109
36
30

1872
1860-1

1870
1868
1871
1861

71
71

1863

1865

26

•

•

•

»

miles;

total owned and operated, 214 miles. The old road was sold
in fore¬
closure Oct. 1, 1877, to the second
mortgage bondholders, and this com¬
pany was organized. The stock is $496,011 common and $1,374,762
preferred. In 1879 important contracts were made;
leasing the Shelby
road for 30 years, and also with the
Cumberland & Ohio (see V.
147). Operations and earnings for five years past were as follows: 29, p.
Years.

9-8781

—(V. 27, p.

Passenger
Mileage.

*302V V.

Freight (ton)

15,747,685

Miles.
213
213
213
213

21,762,605

p.

Net

Earnings. Earnings.

$1,026,159

26,481,084
27,158,428

15,431,162
13,379,360
28,

Gross

Mileage.

41, 599;

1,011,688
1,049,369
978,083

Y*29, p.'l47;

V.

30*,

p.

$224,528
205,866
256,710

294,160

169.)

3,003,300

J. A J.
J. A J.
A. A O.
F. A A.
A. A O.
Various
M. A N.
A. A O.
M. A S.
A. A 0.
M. A N.
J. A D.
F. A A.
J. A D.
-

2^

•

•

496,500
756,800

633,000
425,000
217,300
1,166,700
1,000,000

•

J.
J.
J.
A.
J.

6
6
6

6
5

-

-

Jail., 1881
Jan., 1897

do

1907
Feb. 2, 1880
1886 A 1887
1886

AN.Y., Far. L. A Tr.
Y., Bank of America.
do

do

Louisville.
Nov., lS80-’8~
Y., I)., M. A Co. Oct. 15, 1893
New York.
Mar. 1,1907
L. A N. Y., D., M. A Co.
April, 1898
New York.
Nov. 1, 1833

L. A N.

London, Baring Bros.
do

Dec., 1901

Tlo

do
do

do
do

Aug., 1902
Dec.

I, 1919
1884

-

A
A
A
A
A

New York, Treasurer.

i880

Jan.,

J.
J.
J.
O.
J.

do
do
New Y’ork.
NYork, Union Trust Co.

Jan., 1902
Jan. 1, 1902

A. A O.

•

7
6
6 g.
7

L.
N.

Dividend.

Y., Bank of America.
do

Q.-J.

7
7
7
7 g.
7

3,903/R)0
1,100,000

N.

....

....

600,000
1,480,000

1.000
100
100 Ac.
100 Ac.
500 Ac.
100 Ac.
300 Ac.
100 Ac.
100 Ac
100 Ac.
100

Louisville

.

3,000,000
600,000
398,000
400,000
370,000

1,000
1,000
1,000
1,000

Cincinnati d*
Lexington.—Line of road—Louisville, Ky., to
Lexington, Ky., 94 miles; Junction to Newport, Ky., 81 miles; leased:
Newport, Ky., to Cincinnati (O.) Bridge, 1 mile; standard
gauge track
at Louisville, 4 miles;
Lexington, Ky., to Mount Sterling, Ky., 34

-

2,800,000

20

304

.

1,000,000
7.070,000
2,000,000
3,500,000
2,270,770
1,600,000

1,000

Where Payable, and by
Whom.
Payable

6
7
7
3
6
6
7
6
7
7
7 g7
6 g.
6 g.
6

'

850,000

Bonds—Princi¬
pal,'When Due.
Stocks—Last

When

Cent.

9,052,950

m

1,000

•

1875
1867
1869
1870
1872

Rate per

3,000,000
275,300

i’oo

20
22
77
77
39
43

INTEREST OR DIVIDENDS.

$100,000

1,000
100 Ac.

284

coupon

Outstanding

100

46
392
392
130
83
115

2d mort., endorsed by Georgia
Railroad
Madison d Portage—1st mort., gold

Amount

$1,000

m

.'...

McKean d} Buffalo—1st mortgage
Macon d• Augusta—1st mortgage

Date

of

For explanation of column headings, &c., see notes
on first page of tables.

Mahoning Coal.—1st mortgage,

[Vol. XXX.

Bost.,Nat. B’kCom’rce.

April’i,’1912

m

m

m

Buffalo, Mauuf.ATr.Bk. Jan. 1, 1905
N.Y.,M.K. Jesup,P.ACo.
1887
1879

m

M’nthly Boston, 2d Nat. Bank.
A. A O.
J. A J.
J. A J.

1890 to 1891

do

do
do
do
Portland, 1st Nat. Bank.
Q.-J. Boston, 2d Nat. Bank.
A. A O; Portland, 1st Nat. Bank.
A. A O. Boston. 2d Nat. Bank.
M. A N. Manchester and Boston.

Oct., 1900
July, 1898
July, 1901
July, 1891

April 1, 1883
Oct. 1, 1895

Nov. 1,

1879

would manage the road so as to
give to the Louisviile A Nashville Rail¬
road a thirteen hours connection with

Chicago. (V. 29, p. 511, 657,)
to Williamstown, Pa., 20 miles. A
leased and operated by the Summit Branch
Railroad. The
lease is for 999 years from March
1, 1866, and the rental is $62,500 per
annum.

Lykens Valley—Millersburg, Pa.,
coal road
McKean &

Buffalo— Larrabee, Pa., to Clermont, Pa., 22 miles. In 1878
earnings were $60,620 and net $40,811. The stock is
$387,600.
Hamlin, President, Sinethport, Pa.
Macon <C Augusta.—Warrenton, Ga., to
Macon, Ga., 78 miles. Road
operated by Georgia Railroad Co., which endorses
$300,000 of the first
mortgage bonds and all the second mortgage bonds.
Capital stock,
$1,971,541. The Georgia Railroad Company bought in the road sold
at
Augusta, March 2, 1880. (V. 28, p. 501, 579; V. 30, p. 17,
248.)
Madison d• Portage.—Madison, Wis., to
Portage City, Wis., 39 miles.
The road wras opened in I'870. The stock is
$394,300. The road is con¬
trolled and operated by the
Chicago Milwaukee & St. Paul, and was
sold in foreclosure to that
company April 6,1880. (V. 30, p. 357, 375.)
Mahoning Coal— Road extends from Andover, O., to Youngstown, O.,
38 miles, and has five miles of branches to coal
mines. It wras opened
May l, 1873, and leased for 25 years from that date to Lake Shore &
Michigan Southern Railroad, at 40 per cent of gross
earnings. Capital
gross
B. D.

Louisville d Nashville.—Louisville, Ky., to
Nashville, Tenn., 185 miles;
total branches to Bardstown,
Ky., Livingston, Ky., Richmond, Ky.,
Paris, Tenn., to Memphis, Tenn., and to Cecilian Junction, 466 miles in
all; total main line and branches, 651 miles; Barren
County Railroad,
11 miles; Nashville A Decatur
(leased), 122 miles; South & North Ala¬
bama Railroad and branch, 190
miles; total road owned,
controlled, 973 miles. This statement was prior to the leased and stock is $1,373,000. The L. 8. & M. S. Co. holds
$287,000 of the bonds.
acquisitions
of 1879-80; but in May,
1879, the company purchased the Evansville Net earnings in 1879 (40 per cent of gross), $58,219.
Henderson & Nashville (St. Louis &
Mainc Central.—Portland, Me., to
Southeastern), and in January, 1880,
Bangor, Me., 137 miles. Brandies
bought a controlling interest in the stock of its rival
line, the Nashville owned: Cumberland Junction to Waterville, 73 miles; Brunswick to
Chattanooga A St. Louis Railway. (See V. 30, p. 91.) This
Lewiston and to Bath, 32 miles;
Crowley’s"to Farmington, 47 miles;
purchased an interest in the N. O. A Mobile, the Mobile & company also Waterville to
Skowhegan, 19 miles ; leased: Belfast & Moosehcad Lake
Montgomery,
the Pensacola & Selma, the Owensboro A
Nashville and the St. Louis A Railroad, 34 miles; Dexter & Newport
Railroad, 14 miles: total owned,
Southeastern roads. A combination
also made with the leased and operated, 356 miles. This was a consolidation in 1862 of the
Georgia and Central Georgia roads agreement was in close connection. Androscoggin & Kennebec
for operation
Railroad and the Penobscot & Kennebec.
The prices of stock and
In August, 1873, the Portland A
monthly earnings have been;
Kennebec, Somerset & Kennebec and
Prices of Stock.
Monthly Earnings. Leeds & Farmington railroads were also consolidated with the Maine
1877.
1878.
1879.
Central. The annual report w as published in V.
1880.
1879.
1880.
Jan
30,'p. 321.
37
37
127
Comparative statistics for four years are as follows:
861q 450,476 647,671
42%- 35
146 -II6I2 430,638
Operations—
1876.
1877.
576,638
1878.
Mar. 26 - 26
1879.
49
41
Passenger mileage
421,579
25,208,476 22,740,125 20,449,197 20,441,291
29 Q- 29
5934- 47i4
*

May

30

—

,

-

-

-

_

-

-

-

30

_

3612- 3512

2sJo- 28^
29 V 2914

Oct..
Nov.
Dec. 41

-

_

J’ne.

July
Aug.
Sept

-

_

_

-

40 *2

36
35
39
39

-

36

-

35

-

-

38
39

70V 5312
62V 51i2
63 V 51
56 V 52
63 V 5412

76V 6218
89 V 76i2
89V 84

396,083

425,750

-

504,229
419,246
443,749

-

-

-

527,214

-

609*578
697,033

-

Condensed balance sheet. June 30.1879, showed the
following resources:
Total cost of road to June 30, 1879
$24,865,647
Due from transportation
department
$309,609
Sundry railroad bonds
522,816
Sundry railroad stock
;
1,281,861
Pullman Southern Car

Company stock

Bills receivable

84,000
68,130

Sundry railroads and persons
278,492
Real estate, timber and
quarry lands
938,178
South A North Ala. RR. Second
Mortgage bonds.
Suspended interest S. & N. Ala. RR. 2nd niortg... 1,000,000
70,000
South A North Alabama Railroad Co
810,017
Nashville A Decatur Railroad
Company
421,872
Shop and fuel stock
507,047
Cash
Total

310,844—

resources

Earnings for five

Years.

years past were

Miles.
920
920
941
966

as

follows:
'Gross

Earnings.
$4,863,873
4,961,490

Net

Freight (tons) mileage
Earnings—
Total gross earnings
Net earnings

25,029,850 25,028,148 21,193,655 27,652,047
$
$
$
$
1,726,497 1,648,175 1,434,688 1,508,377
684,416
644,637
593,983
638,398
‘

.

Per cent of oper. exp

'

"

‘

60-36

-

-

60-88

'

Total income

$
689,852

.

Disbui'sements—
Rentals paid
Interest on bonds
Dividends
Other interest, etc

Balance, surplus

.

58-60

$

57-67

$

$

650,699

599,957

648,557

54,000

523,410

54,000
569,381

54,000
569,179

64^555

26,109

3,845

*3,726

38,487

47,180 def.27,269

21,652

54,000
502,996
29,814

GENERAL BALANCE AT CLOSE OF EACH FISCAL
YEAR.

j\.ssctS

1

$

^

$
Railroad, buildings, Ac. ..10,006,657 10,006,432 10,019,932
10,018,152
Androscoggin RR. lease...
768,333
768,333
768,333
768,333

Equipment

1,658,541

2G’195

bom*

1,658,541

41>902

Bills A acc’nts receivable

Materials, fuel, Ac
6,602,870
$31,468,518

Cash

on

hand

Miscellaneous items
Total

-

Earnings.

$1,682,132

J A a 1\

Stock,

i fi ftpo

common
Stock of P. A K. RR

207,684

244,489.
136,777

158,786
112,661
129,591

1,658,541
20.105

1,658,541
20,195

94,262
106,547
20,821

151,35a
37,427
95,785

13,048,076 12,876,246 12,751,566 12,686,851
*£
$
<it
'

3,602,200
63,600

3,620,100

3,620,100

4*

3,620,100

13,700
1,967,960
Bonds (seeSupplement).. 7,703,584
8,706,011 8,708,942 8,704,219
2,140,520
Bills payable
928,920
12,959
2,344,242
All other dues A accounts.
966
122,754
51,201
40,500
34,223
2,231,771
Miscellaneous
-fV. 28, p. 428, 477, 579,
18,861
6,104 ‘
600; V. 29, p.'41, 170, 358.' 381,
405, 538, Profit and loss
602, 657; V. 30, p. 91, 144, 169, 170,
608,757
479,130
369,065
192, 273, 357, 384, 408.)
328,309
Louisville New Albany d
Chicago.—Now Albany, Ind., to Michigan
Total
13,048,676 12,876,246 12,751,566 12,686,851
City, Ind., 288 miles. This road was opened in 1852
and sold in fore¬ -(V. 28, p. 325; V. 30, p. 321.)
closure December 27,1872, and
reorganized w ithout any bonded debt.
Manchester d• Lawrence.—Manchester, N.
Very little information has been given as to its
H., to Methuen '(State line),
earnings, but returns for 22*4
1878 showed gross earnings of
$621,750; net earnings, $50,140. The total miles; Methuen branch of the Boston A Maine Railroad, 3% miles;
stock was placed on the New' York
miles operated, 26. Road in operation since
Stock
1849. Formerly
1879, and afterwards it was reported that aExchange List in November, operated with the Concord RR. as one line, on a basis of two-fifths of the
purchase had been made of joint
a controlling interest in
earnings. Methuen branch is leased at a rental of $11,000 per
the stock by
Louisville & Nashville Railroad, R. S. Mr. Standiford, President of the Company lays claim to a two-fifths interest in the Manchester annum.
A North
Veech, lion. Isaac Caldwell and Weare
several other gentlemen in
RR., which is operated by Concord RR. Ten per
Louisville, and their associates in New York are paid. Gross
cent dividends
were John Jacob
earnings in 1878-9, including amount received from
Astor, William Astor, Robert L.
Kennedy, Homy F. Concord Railroad on account of joint
Vaile, Samuel Sloan and others.
All these
business, $164,998; net earnings,
holders, of the stock are ^100,411. In 1877-8
friends of the Louisville A Nashville
Railroad, and it was stated they >100,459. (Y. 28, p. gross earnings were $171,777, and net earnings,
598.)




5,315,326
5,607,598
5,387,595

1

Subscribers will confer a

of column headings, <fcc., see notes
on first page of tables.

For explanation

2d mortgage
:
3d mortgage
4th mortgage
Scioto & Hocking Valley RR., 1st mortgage
Balt. Short Line,’stock, 8 p. e. guar by M. &
do
do
1st mort., guar, by M. & C

Miles
Date Size, or
Par
of
of
Road. Bonds Value.

44
188
188

Manhattan Elevated—Stock
Marietta d Cincinnati— 1st mortgage, dollar
1st mortgage, sterling
:

.....

Pittsburg d Cleveland— Funded debt
Marquette 22. d 0.—1st mort., I’d gr., M.& O., coup.

$100
1861
1861
1866
1870
1873
1866

'..

C...

30

1869

5^

Cincinnati & Baltimore RR., stock
do
1st mortgage
do

m

m

m

m

m

m

Amount

Outstanding

1,050,000
2,500,000
3,000,000
4,000,000
300,000
1,125,000
750,000
1,243,400

....

....

ioo
1,000
....

1,000

General mort., land grant, (s. f.

133

1877

1st mortgage,

14
800
284
284
284
103
10

1878

1,000

gold
Michigan Central—stock
1st mortgage, convertible, sinking fund—
1st mortgage, convertible.
Consolidated mortgage (for $10,000,000)
Michigan Air Line mortgage
Michigan Air Line 1st mort.,assumed by M. C—Equipment bonds
1
M. C. bonds, mort. on Grand River Valley RR. ..

m

m

1,000

m

m

Haven, 1st mort., guar
do
2d mort., guar

Kalamazoo & South

1,000

m

m

82
39
39

100

1,000
1,000
1869
1874
1879
1870
1870

Manhattan Elevated.—This is a corporation formed to lease and
the two elevated railroads in New York City. Its capital stock

000,000, and it guarantees 6 per cent per annum on

1,000
1,000
1,000
1,000
1,000
1,000

operate
is $13,-

$17,000,00.0 of

^

Balt., R. Garret & Sons.

Aug. 1, 1891

London.

Aug. 1, 1891

Balt., R. Garret & Sons.

May 1, 1896
July 1, 1890
April, 1908)
May 1, 1896

do
do
v‘- do
do

do
do
do
do

Balt., Merch. Nat. Bank
do

do

do

?

do

& J. N. Y.,

M. &
J. &

S.
J.

Company’s office.

New York,

City Bank.

Boston and New York.

7
7 g.

8
4

2*2
6 g.
4
8
8

Wil'son

N. N. Y., R. T.
& Co.
do
do
J.
do
do
J.
N. N.Y., H.Talmadge &Co.
do
do
Janu’ry
New York, Office.
Q.-J.
J. & J. N.Y., Central Trust Co.
J. & J. Grand Central, Office.
A. & O. N. Y., Union Trust Co./
do
do
A. & 0.
do
do
M. & N.
do
do
J. & J.
do
do
M. & N.
do
do
A. & O.
M.
J.
J.
M.

&
&
&
&

do
do
do

....

M. & N.
M. & N.

Miles.
292
292
292
292
292

do
do

1

do

Gross

Earn’gs,
$1,063,326
1,033,366
961,350
989,857
862,513
-(V. 28, p 221; V. 29, p. 18, 382, 608, 631.)

Memphis d Little Rock

miles.

Default

was

Jan., 1879
1, 1904

Dec.

May 1, 1879
1, 1900

Jan.

June 1,1992
Mar. 1,
Jan. 1,

1908
1900

....

-

8
8
8
6
8
8

A.
A.
N.
J.
O.
N.
J.
D.
N.
A J.

....

J.

7

7

<fc
&
&
&
&
&
&
&
&

pa\Wlien Due.
S oeks—Last
Dividend.

Payable, and by

Payable

F.
F.
M.
J.
A.
M.
J.
J.
M.
J.

Bonds—Pnnci-

Whom.

Where

Years.
1874-5
1875-6
1876-7
1877-8
1878-9

357, 385, 408.

O., to Belpre, O., 187 miles;

-

•

When

•

8
6
6

640,000
70,000

1.000

bonds and 10 per cent on $13,000,000 of stock of those companies before
its own stock can receive anything.
For full details in regard to the
companv and its leased lines reference should be made to the following
pages : V. 28, p. 553, 579, 649; V. 29, p. 244, 407,459,511; V. 30, p. 144,

Marietta d Cincinnati.—Ludlow Grove,

5,312,725
1,264,000
1,000,000
1,958,000
250,000
2,600,000
6,500,000
8,500,000
18,738,204
1,501,000
556,000
8,000,000
1,900,000
200,000
556,000
500,000

100

1872

•

.

(?)

25

m

.

1,760,000
2,482,200

1,000

1,000
250 &g.

$10,000 after ’82)
Metropolitan Elevated (N. Y. City)—Stock

4
7

3,530,000

1872
1878
1880
1854
1867
1877
1877

Memphis d Charleston—stock
1st mortgage, Ala. & Miss. Div., convertible
2d mortgage
Consol. M.,g. ($1,400,0001st M. on 91 m.in Teun.)
Memphis d Little Rk — 1st M. (paid $50,000yearly)

7
7 g7
8
8
7
4
7

2,450,000

88
117
292
181
272
292
133

gold, (for$3,500,000)...

Rate pei
Cent.

$13,000,000

m

....

50

discovered in tbese Tables,

INTEREST OR DIVIDENDS.

750.000

Marietta

do

37

BONDS.

great favor by giving immediate notice of any error

DESCRIPTION.

New mortgage
Mass. Central—New mort.,

AND

STOCKS

RAILROAD

April, 1880. J

made

—

May 1, 1880
Jan. 1, 1885
Jan. 1, 1915

Yearly-’81-’83
July, 1907
April 1, 1880
July. 1908
Feb. 2. 1880
Oct. 1,1882
Oct. 1,1882

May 1,1902

Jan. 1,1890

1890

April 1, 1883
1909
Nov. 1, 1890
Nov. 1, 1890

Net

Earn’gs.
$183,495
321,230
317,523
307,445
231,038

Little Rock, Ark., to Hopefield, Ark., 133

on

the coupons November, 1872, and the prop¬

branches, 88 miles; lines leased and operated, 37 miles; total operated, erty sold in foreclosure. The new company also defaulted, and the road
312 miles. The company made default on the fourth mortgage bonds, was sold and reorganized April 28, 1877. The stock is $1,500,000. In
and the road was placed m the hands of Mr. John King, Jr., of the Balti¬ 1878 gross earnings were $443,764; net earnings, $116,417. The com¬
more & Ohio, June 27, 1877.
The Marietta & Cincinnati Co. guaranteed pany has a land grant from Congress of 1,000,000 acres, of which about
the stock and bonds of the Baltimore Short-Line Railway, and when in 150,000 acres have been certified to it. The general mortgage carries 8
default on its own bonds this rental of the Baltimore Short-Line and the percent interest after July, 1882. The State of Arkansas obtained a
rental of the Cincinnati & Baltimore Railroad were paid by order of the judgment against the old co. in Dec., 1879, for about $200,000.—R. K.
court, as the securities of these roads were mainly held by the Baltimore Dow is president, Little Rock, Ark. (V. 29, p. 657; V. 30, p. 192.)
& Ohio Railroad. The bondholders of the Marietta & Cincinnati Co.
have complained bitterly against the policy of the Baltimore & Ohio Co.
Metropolitan Elevated— This was formerly known as the Gilbert Ele¬
towards this road (see V. 29, p. 170). The capital stock is as follows: vated Road, and is now leased, together with the New York Elevated, to
First preferred, $8,105,600; second preferred, $4,440,100; common, the Manhattan Railway Company, at 10 per cent on the stock and In¬
$1,386,350. Very little information has been given in regard to the terest on the bonds. Mr. Elnathan Sweet, Jr., an assistant of the State
operations of the company since 1875; but in November, 1879, Mr. Engineer, made a report in January, 1880, on the result of an examina¬
John King, Jr., receiver, filed his special report covering the period of tion of the elevated railroads of New York, which he was requested to
his receivership of that road—from June 20, 1877, to October 31,1879. make by a sub-committee of the nepburn Investigating Committee. He
A summary of this report is as follows: Since the appointment of the reports that the New York Loan & Improvement Co. expended in the con¬
receiver the earnings have amounted to $3,820,971 and the expenses to struction of the Metropolitan Elevated Railway up to Sept. 30,1879, the
$3,018,216, leaving excess of earnings over working expenses $802,754. sum of $10,828,790. Ittis Mr. Sweet’s opinion that $2,228,042 of this sum
From this is to be deducted the

following expenditures:

For taxes
$113,812
Rent Cincinnati & Baltimore road
$260,521
Less amount received from Cincinnati & Springfield
Co. for use of Cincinnati & Baltimore road
91,653—168,868
For rent of Baltimore Short-Line road
292,533
Rent of track paid Indianapolis Cincinnati & Lafayette Co
9,588

depot and grounds leased at Cincinnati
Coupons of Scioto & Hocking Valley RR (Portsmouth Branch).
Rent of land elsewhere than Cincinnati upon the line of the
road, and mis eellaneous items

Rent of

5

98,635
41,825

11,820
$737,082

—Showing that the net earnings, after deducting taxes and rents during

is not chargeable properly to the construction account. It is made up of
items for legal expenses, for the purchase of real estate and other charges
of like character. There is an item of $415,000 charged to bond dis¬
count. This represents the loss on $3,605,000 in bonds of the Metro¬

politan Company sold to Kuhn, Loeb & Co., $1,000,000 at 85 per cent
and the rest at 90 per cent. Not more than 10 per cent of the real estate,
charged at $693,833, is needed, on account of the consolidation with the
New York Elevated Road. In one part of his report Mr. Sweet says :
“
Let us see what the New York Loan & Improvement Company paid
for $6,500,000 of Manhattan stock, $8,500,000 of the first mortgage
bonds and $6,500,000 of the stock of the Metropolitan Company, repre¬
senting the whole property and the only lien upon it.” Mr. Sweet then
analyzes the financial statements of the company, and comes to the con¬
clusion that

they paid for the above-named securities $9,639,142. Dur¬

The suit for foreclosure is moving ing the year ending Oct. 1, 1879, the operations were as follows: Miles
operated, 7: passengers carried, 16,069,489; gross receipts, $1,285,980;
29, p. 170, 608 ; V. 30, p. 43, 169.)
operating expenses, $709,529, net earnings, $576,455. For four months
Marietta Pittsburg d Cleveland.—Marietta, O., to Canal Dover, 100 ending January 5,1880, the following statement was made: Miles oper¬
miles. Road opened May, 1874, and receiver appointed August 7, 1875, ated. 11; gross receipts, $589,260; operating expenses, $185,836; net
and road sold June 13, 1877. The property has been in the hands of earnings, $303,423. Mr. Sweet said of this: ‘‘The earnings of the
Cyrus W. Field, John Paton and Isaac Morton, trustees and purchasing Metropolitan for the last four months show a large increase in earnings,
and operating expenses reduced to 31 per cent.” (V. 28, p. 42,112, 253,
committee, and will soon be reorganized. (V. 30, p. 273.)
327, 526, 553, 579; V. 29, p. 42, 407, 511, 631, 656; V. 30, p. 144, 169,
Marquette Houghton d Ontonagon.—Marquette, Mich., to L’Ause, 63 357, 385, 409.)
miles; branches, 25 miles; total main and branch lines, 88 miles. This
was a consolidation August 22,1872, of the Marquette & Ontonagon
Michigan Ccnfm/.-Detroit,Mich.,to Chicago, Ill., 284 miles, including
Railway and the Houghton & Ontonagon Railway. The company made 14 miles of the Illinois Central track used for entering Chicago; leased
default on its bonds, and issued the present 6 per cent bonds in exchange lines:
Michigan Air Line, 104 miles; Jackson Lansing & Saginaw, 236
for prior 8 per cent bonds. The stock is $2,306,600 common and
miles; Grand River Valley, 84 miles; Kalamazoo & South Haven, 40
$2,259,026 preferred. The lands amount to 425,000 acres, mostly tim¬ miles; Joliet & Northern Indiana, 45 miles; total leased lines, 520
ber and mineral lands, and the freights of the company are mainly of
miles; total operated, 804 miles. The leased lines have been largely
iron ore. Operations and earnings for several years have been as follows:
assisted by the Michigan Central Company, and prior to 1872 the Michi¬
Gross
Net
gan Central was a regular dividend paying company. The Vanderbilt
Freight (ton)
Passenger
E.-trniugs.
Earniugs. party took possession in June, 1878. The most conspicuous feature
Years. Miles.
Mileage.
Mileage.
$311,475 in the company’s later reports has been the loss of net income arising
1875....
88
14,081,901
$718,904
1,386,303
680,422
331,788 from the large decline in freight rates on through business. The last
1876....
88
14,236,987
1,208,906
675,732
346,063 annual report was published in the Chronicle, V. 28, p. 473. The fiscal
1877
88
15,478,293
1,170,748
566,453
299,182 year of tbe company formerly ended with the month of May; in 1877 it
1878
88
15,816,466
1,030,290
552,671
277,157 was changed so as to end with the mouth of December; but in the com¬
1879
88
15,124,336
1,130,678
parisons here made between 1878 and 1877 full year in each case is
Massachusetts Central.—Leased March, 1880, to Boston & Lowell for given to make the comparison a proper one:
25 years, at a rental of 25 per cent of gross earnings, and to be com¬
EARNINGS.
pleted as specified by Nov. 1, 1881. (V. 30, p. 222, 248, 322.)
the period stated, were $65,672.
slowly on. (V. 28, p. 401, 452; V.

'

-

-

Memphis d Charleston.—Memphis to Stevenson, Ala., 273 miles;
branch to Somerville 14 miles, to Florence 5 miles; total length 292
miles. This road was leased June 2,1877, to the East Tennessee Vir-

gnia & Georgia Railroad road twenty years account and 1, 1877. The
from July apply the net
to operate the for on their own

Freight
Passengers
Miscellaneous

ssees were

earnings to interest and pay the balance, if any, to the lessors. The
lease was terminable on 6 months’ notice and was modified in December,
1879, the M. & C. Company giving up their right to terminate the lease,
and the lessees agreeing to buy the coupons for three years following in
case the M. & C. earnings should be insufficient to pay them.
Of the new
consolidated mortgage, $1,400,000 is secured by the old Tennessee State
lien for $1,736,906, assigned to a trustee, and a sufficient balance of this
mortgage is reserved to take up first and second mortgages. In March,
1880,15,150 shares of stock held by city of Charleston were sold to
Newell, Duncan & Co., of Nashville, at 38*a. Earnings for five years
past

were as




follows:

Total

1877.

Increase.

$4,646,247

$4,387,839

1,918,608

292,014

$6,872,094

$6,561,435

OPERATING

Total
Net

earnings

204,497

'

$310,658

EXPENSES.

$42,998
98,244

$4,205,739

302,742

$2,504,855

$4,508,482
$2,052,952

63-55

68-71

$4,367,238

Ratio of expenses
to earnings, in¬

cluding taxes...

37,027
15,222

1,881,581

307,237

Excluding taxes.. $4,162,741
Taxes

Decrease.

$258,408

1878.

$141,243
$451,902
5*1*

RAILROAD

38
Subscribers will confer

a

STOCKS

AND

BONDS

[Vol. XXX

great favor by giving immediate notice of any error discovered in tbese Tables.

DESCRIPTION.
Miles Date Size, or
For explanation of column headings, &c., see notes
of
of
Par
on first page of tables.
Road. Bonds Value.

Bonxls—Princi¬

INTEREST OR DIVIDENDS.
Amount

Rate per

Outstanding

Cent.

When

Payable

Where Payable, and by

pal. When due.
Stocks—Last
Dividend.

Whom.

Michigan Central—( Continued)—

Grand River Valley, 1st mort., guar. 5
do
do
stock, guar
Detroit & Bay City 1st mortgage, endorsed
do
do
mortgage (not guar M.C.)
Jackson, Lansing & Saginaw 1st mort— * coup,
do
1st mort. (N. of Win.), conv. V may
do Cons. m. on whole line (300m.)) be r’g
Middletown TJnionvillt <£ Water Cap—1st mortgage.
Milwaukee Lake Shore <£ Western—1st in., gold. . ..
Milwaukee <£ Northern— 1st mortgage
Mine Hill <£ Schuylkill Haven—Stock
Mineral Point—1st mortgage

84
«

•

•

•

118
118
116

1866

$1,000

$1,000,000

100

491,200
424,000
1 ,'906,000

....

1872
1872
1865
1870
1871

....

1,000
1,000
1,000

mortg., Minneapolis to White B. Lake, guar..
mortgage, gold, coup. (Al. Lea to Fort Dodge)
Mississippi <£• Tennessee—1st mortgage, series “A”.
1st mortgage, series “ B,” (a second lien)
1st
1st

Missouri Iowa <£ Nebraska—1st mortgage
Missouri Kansas dc Texas—Stock

1st m., gold, sink, fund, on road and land (U.P.S.Br)
1st mortgage, gold (Tebo. & Neosho)
Consolidated mortgage, gold, on road and land...
2d mortgage, income, (for $10,000,000)

Booueville Bridge bonds, gold, guar
Hannibal & Central Missouri, 1st mortgage
Missouri Pacific—Stock,

1868
1877

1,000

1877

613,000
1.943,000
400,000
.,750,000
2,134.000
4,022.500
320,000
455,000

500 &c.

1,100,000

1877
1879
1877
1877
1870

1,000
1,000
1,000

pass’gers, local

No. through

•

•

•

70
299
283
283
....

....

299

15*2

1866
1875

1870

1.000
50 &c
50

...

....

1877.

1,300,789
133,148

1,265,631
135,216

Increase.

1,000

1871-3

1,000
1,000
1,000

500 &c.

1870

1,000
100

1,000

7,000,000
2,600,000
800,000
700,000
4,500,000
250,000

.

.

.

.'

1,000

500 &c.
....

1876
1873

1,000
1,000

Decrease.

35,158

2,068

1,400,847
33,090
79,805,454
121,382
Earnings per mile.
2*41 c.
0'05c.
2*36 c.
The statement for the year 1879, issued in December, 1879, on which
the February dividend was declared, was as follows:
1879.

Gross

earnings (Dec. partly estimated)
Operating expenses and taxes
Percentage of earnings
Net earnings

1878.

$7,345,700

$6,991,700

4,624,600

4,367,200
(62-46)

(62-96)

$2,721,100

6*g.

800,000

1868
1871
1872

g.

7 g.
7 g.
6
7 g.

6,068,600
1,000,000
800,000

1,000

g.
g.
g.

J.
J.
M.
M.
J.
M.
M.

&
&
&
&
&
<fc
&

J. N.
J.
N.
N.
J.
N.
S.

Y., Union Trust Co.
do
do
do
do
do
do

July 1, 1886

Jah., 1880
May 1,1902-3

do
do

do

*

1902

do
do
do

July 1, 1885
May 1, 1890
Sept. 1, 1891
18S6
June 1, 1895

....

& D.
J. & D.
J. & J.
J. & J.
J. & J.
J. & D.
M. & N.
J. & D.
A. & O.
J. & J.
J. & D.
J.

N. Y., S. 8. Sands <fc Co.

N.Y., Merch. Exc. N.Bk.

Dec., 1901

Pliila.M.H. & 8. H. R.Co.

Jan. 17, 1880
Jan. 1, 1890
Jan. 1, 1907
Feb. 1, 1927
Jan. 1, 1907
June 1, 1900

N.Y., Continental N.Bk.
-

N.

do
do
do

do

do
do

Y., Imp. & Trad. Bk.
do

April 1, 1902
July 1, 1902
June 1, 1910

do

&

’

14,752,000

1876
1873

Total passengers..
1,433,937
Total moved 1 mile 79,684,072

“

1,100,000
1,000,000
1,100,000
2,450,000
21,405,000
2,433,000
349,000

100

1868
1870

3*2
10
7
7
7
7
8
8
7

280.000

1,000

STATISTICS.

1878.

No.

140
51
27
93
15
110
100
100
85
786
182
100
786
786
•

1st mortgage, gold
2d mortgage (sinking fund $50,000 per annum)..
Real estate (depot) bonds
Debt to St. Louis County (no bonds)
3d mortgage
Carondelet Branch, 1st mortgage

TASSENGER

126

8
8
8
8
8
7 g.
7
8

1,094,000

1180.The
17874-5678
Minneapolis <& St. L.—1st M., Min. to Sioux C. June.
1st mortgage, Sioux City June, to Iowa line

....

236
13
127

8

2*2

7 g.
6 g.
7
8
7
7

6 g.

J. & J. N. Y., Union Trust Co.
J. & D.
do
do
Various
do
do
A. & 0.
do
do
M. & N.
do
do
M, & N.
do'
do
F. & A. N.
J. & J.
M. & N.

Y., Company’s Office.
do

do

do
do

-

St. Louis.

mont’ly
M. & N. N.
A. & O.

Y., Company’s Office.
New York.

*

Jan., 1899
June, 1903
1904-1906

April 19.1911
May 1, 1906
May, 1890

Aug., 1888
July, 1891
May 1, 1892
Feb., 1885
Oct.

1, 1893

all), are guaranteed by the Burlington Cedar Rapids <fc Northern Rail¬
road. Tne bonds on the 15 miles were issued by the
Minneapolis &
Duluth Railroad before it was absorbed by this company. (V. 30, p. 248.>

Mississippi d Tennessee.—Grenada, Miss., to Memphis, Tenn., 100 miles
Capital stock, $825,400. Debt was consolidated as above in 1877.
Earnings for five years past were as follows:
Gross

Years.
1874-5
1875-6
1876-7
1877-8
1878-9

Miles,

Net

Earnings.
$455,911
469,272
433,440
378,780

-(V. 28, p. 95.)

241,798
212,768
176,935

471,344

100
100
100
100
100

Earnings.

186,640

$211,333

$2,624,500

Missouri Iowa & Nebraska.—Proposed line, Alexandria, Mo., to Nebraska
City, la., 300 miles; completed line, Alexandria, la., to Cory don, la.,
Balance
$1,101,100
$974,600 113 miles. In 1877-8, deficit in operations was $3,125.
Road to be
sold in foreclosure and go into the Wabash St. Louis & Pacific svstem.
Equals per share
($5 87)
($5 20)
Balance for 1879 appropriated as follows :
The stock paid up is $1,457,225. F. N. Drake, President, Centreville, la.
Dividend Ha per cent August, 1879
$281,100 —(V. 30, p. 298, 385.)
Dividend 4 per cent February, 1880
749,500
Missouri Kansas <6 Texas.—Hannibal, Mo., to Denison, Texas, 570
Construction—Land
10,000
Surplus
'
60,500 miles. Branches: Parsons, Kan., to Junction City, Kan., 156 miles;
Holden (Mo. Pac. RR.) to Paola, Kan., 54 miles; total,
miles. In
$1,101,100 Feb., 1880, the 54 miles, Holden to Paola, was leased to 786 Pac. This
u
Mo.
The only charge to construction during the
year was $10,000 for land. company was organized April, 1870, and embraces by consolidation the
Included in operating expenses are the following items: $50,000 for new
Union Pacific—Southern Branch, tlie Tebo & Neosho and other minor
and additional cars; the cost of 5,000 tons steel rails in excess of value
of iron, and renewal in iron of wooden bridges at a cost of about $50,- companies. In 1874 the Hannibal & Central Missouri was purchased.
This company made default on their consolidated bonds in Dec., 1873*
000. The road, equipment and property have been fully maintained at a
and was operated by a receiver from Dec. 30,1874, to
July 1,1876, when
high standard.’'
the Union Trust Company of New York took possession. In 1879 there
The Jackson Lansing & Saginaw debt is assumed by Michigan Central,
was a contest for the
possession of the road between the Jay Gould party
which also pays $70,000 per year on the stock of $1,966,800, one-third
and the Chicago Burlington & Quincy party, which ended
by the success
of which it owns; the proceeds of J. L. & S. lands go to pay bonds.
of the former and the election of Mr. Gould as president in
January*
Interest was passed on the Detroit and Bay City bonds, not guaranteed,
company had a land grant from the United States estimated
November, 1875. Detroit & Bay City net earnings in 1878 were $94,995. at
817,000 acres and from the State of Kansas 125,000 acres. There is
Operations and earnings for live years past were as follows :
also a grant in the Indian Territory of 3,622,400 acres
subject to the
Passenger Freight (ton)
Net
Div. extinguishment of the lndian title. Several coupons are overdue on the
Gross
Years.
Miles.
Mileage.
Mileage.
Earnings. Earnings, p. c. consolidated mortgage bonds. Prices of stock and monthly earnings
800 ...:
318,366,003 $7,102,286 $2,034,189
have been:
803 86,847,889 396,046,422
6,850,964 2,048,062
—Prices of Stock.
Monthly ]Warnings.
803 93,830,515 473,837,807
6,498,127
1,791,685
1877
1878.
1879.
1880.
1879.
1880.
803 51,354,147 252,373,503
1877*
3,903,514
1,312,499
Jan. .......
4
3*3
6*53a 49*4- 32
$194,453 $367,327
803 79,684,072 548,053,707
6,872,094 2,709,353 2
*
Feb.
9
6
3%- 3*2
48*4- 42
194,855 326,306
3*2 Mar.
378- 2% 11
7*2
224,559
Seven months only.
Apr.
430- 2% 1759. 953
180'218
—(V. 28, p. 473, 599; V. 29, p. 330, 511, 657.)
3
2 *2 18*4- 133*
4i*
M!ay 5
217,833
Middletown Unionville <£- Water Gap.—Middletown, N. Y., to Union- J’ne.
5^4- 5k
2*2 15*8- 11%
3V
221,892
ville, N. J. State Line, 13 miles. Read opened June 10, 1868. Is leased July 4*2- 4*3
3
2*2 163s- 14*2
258,659
to the New Jersey Midland Railroad at a rental of 7 per cent on stock
17
2*22
13*4
Aug. 5*4- 4^8
306,329
($123,850) and interest on bonds. G. Burt, President, Warwick, N. Y.
6*24*2
4*8- 2*8 21*4- 13%
Sept
380,759
Milwaukee Lake Shore <t Western.—This road extends from
4V 3*2 30*2- 19
387,701
Milwaukee, Oct.. 7*2- 638
Nov.
35 %- 20
57b- 45s
7*8- 4*8
Wis., to Tigerton, Wis., 176 miles, and has branches from Manitowoc to
387,083
5
3
Two Rivers, 6 miles, and Hortonville to Oshkosh, 23 miles. It is a con¬ Deo.
7*8- 5
333s- 27*4
380,028
solidation of the Milwaukee Manitowoc & Green Bay and the
Appleton Annual interest charge now is $776,398. The M. K. & T. bonds and U.
& New London railroads.
Road was completed to Clintonville at the P. S. Br. bonds draw five
per cent in 1879, 80-81. The annual report
close of 1878 and extended to Tigerton in 1879; a further extension of was
published in V. 30, p. 295. Earnings for five years past were as
17 miles is rapidly progressing. The company defaulted on the interest follows :
of its bonds in December, 1873, and on December 10,1875, the
property Years.
Miles.
Gross Eam’gs.
Net Eam’gs.
was sold in foreclosure for $2,509,788 and purchased
by bondholders. 1875.
786
$2,904,925
The reorganized company has $5,000,000 preferred stock and
$1,224,560
$1,000,000
786
3,217,278
common stock, and funded debt as given above.
1,215,999
In 1877-8 gross earn¬
786
3,197,321
952,211
ings were $245,025; operating expenses, $195,280; net earnings,
1878..
786
2,981,681
428,833
$49,745. (V. 29, p. 226; V. 30, p. 84, 144.)
1879
3,344,291
1,140,439
Milwaukee <k Northo'n.—Milwaukee, Wis., to Appleton, Wis., 106 miles;
—(V. 28, p. 146, 173, 298 ; V. 29, p. 119, 170, 278, 302, 358, 658 ; V. 30,
branch—Hilbert, Wis., to Green Bay. Wis., 27 miles; total road operated, p. 67,117, 295.)
129 miles.
Opened November 25,1872. It is leased to Wisconsin Cen¬
Missouri Pacific.—From St. Louis, Mo., to State Line of Kansas, 283
tral at a rental of 37*2 per cent on gross earnings. -• April 28,1879. an
order was granted appointing a receiver, and a decree of foreclosure has miles; branch line, Kirkwood, Mo., to Carondelet, Mo., 13 miles; leased
lines, 127 miles, as follows: Osage Valley & Southern Kansas, 25 miles;
been made and road to be sold. (Vol. 28, p. 454; V. 30, p. 273.)
St. Louis & Lexington, 55 miles; Missouri River R. R., 25miles; Leaven¬
Mine Hill d Schuylkill Haven— Schuylkill Haven, Pa., to Locust
Gap, worth Atehinson & N. W., 22 miles; total operated in 1878 423 miles.
Pa., 42*2 miles. Road was leased May 12,1864, to the Philadelphia & In February, 1880, leased also St.
Joseph & Atchison branch of Han¬
Reading Railroad Company for 999 years at a rental of 8 per cent on the nibal & St. Joseph Railroad, 19 miles; and the branch, Holden to Paola,
capital stock. There is no debt, and 7 per cent dividends are paid. Kan., which, with the St. Louis Kansas & Arizona, built
by this road,
Operations not separately reported; included in lessee’s returns.
makes 112 miles, Holden to Le
Roy.
The Pacific Railroad of Missouri
Mineral Point, Wis.—Mineral Point, Wis., to Warren, Ill., 33 miles
was sold in foreclosure of the third
mortgage September 6, 1876, for
;
branch to Platteville, Wis., 18 miles; total, 51 miles. In 1877-8,
the nominal price of $3,000,000, to C. K. Garrison and others, and
gross
this company -was organized with a stock of $800,000.
earnings were $125,570; net, $52,300. The stock is $1,200,000. Luther
The validity
of the sale has been contested, but the U. 8. Supreme Court decided in
Beecher, President, Detroit, Mich.
favor of the present company.
In 1877 the gross earnings were re¬
Minneapolis & St. Louis.—From Minneapolis to Albert Lea, Minn., 108 ported at $3,984,442; net
but nothing later has
miles; branch to White Bear Lake, 15 miles; total owned and operated, been reported. Default wasearnings, $1,660,086;Branch bonds
made on Carondelet
October
T23 miles.
Connects with the Cedar Rapids & Northern
Railway. 1, 1877, and compromise bonds at 50 per cent were offered January,
Road was completed in
Gross earnings for year 1878-9, 1878. In November, 1879, a
1877.
controlling interest in the stock was sold to
were $471,344; net earnings, $186,640.
The bonds of the $1,100,000 Mr. Jay Gould for $3,800,000. (V. 28, p. 18; V. 29, p. 293, 433, 538; V~
mort. (1877), numbered from 1.101 to
1,400, for $500 each ($150,000 in 30, p» 192, 222, 273, 322, 409.)

Interest and rentals

1,620,000

1,649,900

...

...

-s

...

...

-

.

.

*




•

•

•

-

•

-

.

.

.

.

-

-

.

.

-

..

-

-

..

-

..

-

.

.

r

_

-

.

-

.

-

.

-

j

,.

...

Subscribers will confer a great

first page

Miles

Date

of
of
Road. Bonds

Mobile & Alabama Grand Trunk,—Stock
1st mortgage bonds
Mobile <& Girard—2d mort., end. by Cent. Qa. RR
3d mortg. bonds issued to Central R. R. Qa

56
56
85

Size, or
Par
Value.

Amount

Outstanding

$450,000
1,124,000
300,000
800,000
3,022,517
5,320,600
7,000,000

$....

—

1869
1877

1,000
1,000

778111887744--965956.
New mortgage, principle payable
1st pref. inc. ana s. f. debentures,

do
do
do

2d
3d
4th

*

do
do
do

Montpelier <£ Wells River—Stock
Morris & Essex Stock
1st mortgage, sinking
2d

.

in gold.....
not cumula
do
do
do

r.

fund

mortgage

Convertible bonds
Construction bonds
Gen. m. & 1st on Boonton Br. &c. (guar. D.L.&W.)
Consol, mort. (for $25,000,000) guar. D. L. & W..

Special real estate mortgage

Nashua <£ Lowell—Stock
Bonds for freight depot

(gold)
Nashville Chattanooga <£ St. Louis—Stock

,

discovered In these Tables.

INTEREST OR DIVIDENDS.

of tables.

Mobile <e Montg.—Stock....
Mobile & Oh to—Stock

39

AND BONDS.

flavor by giving Immediate notice of any error

DESCRIPTION.
on

STOCKS

RAILROAD

April, 1880.]

Bonds to U. S. government, 2d mort
Bonds endorsed by Tenn
New 1st mort. (for $6,800,000) coup
Bonds of N. C.& St. L., 1st mort. on two branches
do
do
1st mort. on Tenn.&Pac
do
for Jasper Branch
do
Nashville <& Decatur—Stock, guar’d 6 p. c. by L. & N.
1st mort. guar. s. f
2d mortgage

Naugatuck—Stock

186
506
506
506
506
506
506
40
137
84
84

34

137
m

m

m

m

100
100

1879
1879
1879
1879
1879

1864
1866
vari’us
1871
1871
1875

1,000
®

•

•

•

•

•

•

•

•

»

•

•

•

50
250
500 &c.

1,000
1,000
1,000

1,000
•

a

•

•

•

100

54

1873

345
340
151
340
75
30

25

1871
1877
1873
1877
1877

7%

122
122
122

10,000
1,000

1,000

1,000

1,000
1,000

.

1870
1867

1,000

500
100

57

Trunk.—From Mobile, Ala., northwest to
The stock was $450,000; lirst mortgage bonds,

Mobile d- Alabama Grand

Bigbee Bridge, 56 miles.
$1,124,000. City Mobile bonds donated $750,000. The company has
just been reorganized (see V. 30, p. 222). The plan proposed was to
issue for the first mortgage bonds 6 per cent second mortgage bonds for
75 per cent of their face and 25 per cent in stock for the balance; then

entire line

to issue a new 6 per cent mortgage for $3,000,000 upon the
of 232 miles, which it is estimated, would complete the road. Francis

B.

dark, President, Mobile, Ala. (V. 30, p. 222.)
Mobile & Girard— Line of road, Columbus, Ga., to Troy, Ala., 84 miles.
Common stock, $987,064; preferred stock, $279,745, and $12,130 Pike
county stock. Second mortgage bonds are endorsed by Central Railroad

made the 4

5,300,000
1,850,000
600,000
900,000
800,000
15,000,000
5,000,000
3,000,000
284,000
573,000
4,991,000
5,050,000
1,025,000
800,000
200,000
6,575,295
1,000,000
940,000
4,860,000
320,000
300,000
90,000
1,642,000
1,955,000
178,000

*

®

cent

of Georgia, which company holds also for advances
per
third mortgage bonds. Gross earnings in 1877-8, $175,573; operating
expenses, $112,274; net earnings, $63,299. In 1878-9 gross

1874-569

2,000,000

Rate per

When

Cent.

Where

Payable

Whom.

1874-5
1875-6
1876-7
1877-8
1878-9

...

...

...

...

...

pal,When Due.
Stocks—Last
Dividend.

....

‘V
J. & J. N. Y.. Nat. City Bank.
do
do
J. & D.
F. & A. N. Y., Drexel, M. & Co.

8
4
^

^

•

a

•6 g.
7
7
7

7*

«

•

Mobile and New York.
New York City.

Yearly.
Yearly.
Yearly

Yearly.

Boston.

2

313
7
rr
i

7
7
7
7
7
3
6 g2
4
6
7
6
6
8
3
7
6 g5

N.

J.
N.
A.
J.
A.
O.
& D.
&
&
&
<fe
&
&

J.
M
F.
J.
F.
A.
J.
•

•

•

M. &
F. &
A. &
J. &
J. &
J. &
J. &
J. &
J. &
J. &
J. &
A. &
J. &

Miles.
529

529
529
529
506

Jan., 1889
June, 1897
Feb.. 2, 1880

•

& D.

J.

Y., Del., Lack & W.
do
do
do
do
do
do

do
do
do
do
do
do

Dec.

1, 1927

Feb., 1880
1, 1880
Mayl, 1914
Aug. 1, 1891
Jan. 1, 1900
Aug. 1, 1889
Oct., 1901
June 1,1915
Jan.

•

N.
A.
O.
D.
J.
J.
J.
J.
J.
D.
J.

Boston <fe Nashua.

Nov. 1, 1879

Boston.
.
New York & Nashville.
N. Y., V. K. Stevenson.
N. Y., Metrop. Nat. Bk.
do
do
do
do
do
do
do
do

Aug. 1, 1893

8,745,657
9,044,895
9,004,770
8,715,315
6,968,900

Drexel, M. <fe Co.
Nashville, Co.’s Office.

N. Y.,

O.
J.

Mileage.

April 1, 1880
1881 and '91
1881 to 1886

July 1, 1913
Jan. 1. 1917
Jan. 1, 1917
Feb.

1,1907

Dec., 1879

Passenger

Years.

Payable, and by

Bonds—Princi¬

Bridgeport, Conn.

July 1, 1900
Oct., 1887
Jan. 15,1880

Gross
*Net
Freight (ton)
Earnings. Earnings.
Mileage.
$
$
46,396,859
2li,‘ 515
52,319,056 - 1,984,536
2,072,634
163,226
61,388,247
2,098,540
376,321
70,706,581
1,830,620
379,468
58,339,703

deducting all expenses, including extraordinary.
41,120. 250; V. 30, p. 222.)
Montpelier & Wells River.—Montpelier to Wells River, Vt., 38 miles.
Reorganized January, 1877. - D. R. Shortwell, President, East CamGross earnings, 1879,
*

After

—(V. 29,

p.

272 )

,85 miles;

■■■

earnings branch, Danville, N. J., via Bergen Tunnel, to Hoboken, N. J., 36 miles;
total, 121 miles. In 1868 this road was leased in perpetuity to the Dela¬
(Vol. 29, p. 40.)
ware Lackawanna & Western Railroad.
The lessees assume all liabili¬
Mobile dk Montgomery.—From Montgomery, Ala., to Mobile, Ala., 179 ties of the Morris <fc Essex Railroad, and pay 7 per cent per annum on
miles. Default was made on the bonds in 1873 ar d the road was sold in the
capital stock, and they also agreed to pay 8 per cent in case the
foreclosure November 16, 1874, and purchased by bondholders, who Morris & Essex earns 10 per cent on its stock in any one year after the
organized this company on a stock basis. The road has done well, and in year 1874. Earnings for five years past were as follows:
Div’d
November, 1879, $1,530,000 of the stock owned in this country was
Gross
Net
Earnings.
p. ct.
purchased by parties in the interest of the Louisville & Nashville Rail¬
Earning rs.
Years.
Miles.
7
road at 96, giving the control to that company. The old mortgage debt 1875..
$1,475,714
121
$4,340,351
7
1,184,723
yet out is $275,000. Gross earnings in 1879, $704,580; net, $228,713.
3,452,319
121
7
—(V. 28, p. 327; V. 29, p. 608; V. 30, p. 169, 247.)
1,222,507
121
3,368,441
7
782,328
Mobile & Ohio.—From Mobile, Ala., to Columbus, Ky., 472 miles;
- 2,710,117
121
■branches: Artesia, Miss., to Columbus, O., 14 miles; Artesia, Miss., to -(V. 28, p. 451.)
Starkville, Miss., 11 miles; Muldon, Miss., to Aberdeen, Miss., 9 miles;
Nashua <& Lowell.—From Lowell, Mass., to Nashua, N. H., 15 miles;
total, ,506 miles.
In 1880 extension) to Cairo, Illinois, 20 miles, to be leased: Stony Brook Railroad, 13 miles; Wilton Railroad, 16 miles;
built.
The company funded coupons from their bonds in February,
Peterborough Railroad, 10 miles; total owned and operated, 54 miles.
1867, and resumed payment of interest May, 1870. In 1872 the second The road was operated with the Boston & Lowell till Oct. 1, 1878, this
mortgage bonds were issued to pay floating debt. A default was made road taking 31 per cent of the joint earnings. Operations and earnings
May 1, 1874, and two trustees and receivers took possession May 8, for five years past were as follows:
Net
Div.
1875. The stock and bonds of the company were placed on the N. Y.
Freight (ton) Gross
Stock Exchange list in July, 1879, and from the statement then sub¬ Years.
Eara’gs. p.c.
Miles.
Mileage.
Mileage.
Earnings.
mitted the following revised description is taken. The new liens issued
$56,465
54
11,724,609
6,370,976 $518,396
and to be issued are as follows: First.—New mortgage to the Fanners’
133,721
2
54
10,995,583
7,146,923
502,325
Loan & Trust. Co., of New York, as trustees, upon the-main line, excluding
142,063
4
54
11,049,587
7,119,318
506,047
2
branches, to‘secure bonds in the aggregate amounting to $7,000,000,
140,306
10,832,906
481,358
54
7,526,444
dated June 1, 1879, due, in gold coin of the United States, Dec. 1,
174,207
6
54
6,610,125
7,733,360
394,387
1927, interest at 6 per cent per annum in lawful money, represented —(Y. 29, p. 459.)
by coupons, payable June 1 and Dec. 1 each year, in the cities of New
Nashville Chattanooga & St. Louis.—From Chattanooga, Tenn., to Hick
York and Mobile. The whole amount of these bonds will be issued at
once.
Second— Deed of trust to the Farmers’ Loan & Trust Co., as trus¬ man, Ky., 321 miles; branches—Wartrace, Tenn., to Shelbyville, Tenn.,
8 miles; Bridgeport, Ala., to Victoria, Tenn., 19 miles; proprietary
tees, to secure four series of preferred income and sinking fund deben¬
tures, which will be issued only to the extent required to meet the out¬ lines—Nashville to Lebanon, 30 miles; McMinnville to Manchester, 35
standing liabilities of the Mobile & Ohio Railroad Co., after deducting miles; Decherd to Fayetteville, 40 miles; total, 453 miles. In 1872 this
the amount of such liabilities provided for in and by the new mortgage company purchased the Nashville & Northwestern Railroad from the
In 1879 they
of $7,000,000, and the aggregate amount of such issues will not exceed State of Tennessee and in 1877 the Tenn. & Pacific RR.
acquired the St. Louis & Southeastern and Owensboro & Nashville. The
the sum of—
company in 1879-80 had formed connections for a through route
In first preferred income and sinking fund debentures, issued
in extension of the balance due on first mortgage liens
$5,300,000 from St. Louis, Mo., to Savannah, Ga., being in active competition
with the Louisville & Nashville Railroad Company. At this juncture the
In second preferred income and sinking fund debentures,
issued in extension of the second mortgage liens
1,850,000 officers of the last-named company purchased a controlling interest in
the stock of the Nashville Chattanooga & St. Louis Company.
(See
In third preferred income and sinking fund debentures, issued
Chronicle, V. 30, p. 91.) The debt to the United States and the bonds
in extension of the third mortgage liens
600,000 endorsed
by Tennessee are secured by deposit in trust of this company’s
In fourth preferred income and sinking fund debentures,
fh
issued in extension of the unsecured indebtedness
900,000 first mortgage bonds. Earnings for five years past were as follows:
DiV’d
Net
Gross
These debentures are secured by a deed of trust to the Farmers’ Loan
Ea rnings.
p.ct.
Earnings.
& Trust Company, covering specifically the lands (including over
Years.
Miles.
3
$528,872
$1,680,826
341
1,150,000 acres of land donated by the United States) and other prop¬
3
728,176
1,751,600
-341
erty not necessary for the operation of the road.
Interest at the
3
682,302
1,632,277
341
rate of 7 per cent per annum, or in multiples of 1 per cent, but
2
767,995
1,871,809
not exceeding 7 per cent in any one year on these debentures,
453
3
715,135
1 736 723
453
is payable annually upon each series in the order of their priority,
but only if earned in the preceding fiscal year, and is non-cumu- (V. 28,p. 554; V. 29, p. 224,407.511,631,658;V. 30, p. 91,222,248,357.)
lative.
For each $100 of principal money of said debentures the
Nashville <t Decatur.—From Nashville, Tenn., to Decatur, Ala., 122
holder of record is entitled to one vote at all meetings of holders miles. The road was leased May 4, 1871, to the Louisville & Nashville
of such debentures (which by agreement are to be called in antici¬ Railroad for 30 years from July 1,1872,
at a rental of 6 per cent per
pation of all meetings of stockholders) for the purpose of instruct¬ annum on the stock, to begin after the completion of the So. & North Ala.
ing the Farmers’ Loan & Trust Company, trustees, how to vote at such RR., and the first dividend under this arrangement was paid April lt
stockholders’ meetings upon the majority of the stock of the Mobile & 1875. The lessee assumed all the debt of the Nashville & Decatur Co.
Ohio Railroad Company, the power to vote upon which is irrevocably
Naugatuck.—Naugatuck, Junction to Winsted, Conn.. 56^ miles;
with the Farmers’ Loan & Trust Company, until the extinguishment of
said debentures. The foregoing bonds and debentures are issued in for¬ Watertown & Waterbury Railroad, 4^3 miles, is leased: total miles
bearance, extension and compromise of the present indebtedness of the operated, 61. From Naugatuck Junction Bridgeport is reached by use of
Mobile & Ohio Railroad, the entire amount of which (excepting less than the track of the New York New Haven & Hartford Company. Debt was
bonds then
1 per cent of the first liens and a very limited percentage of the inferior extinguished in 1876 by the payment of the first mortgage earnings for
liens), with the power and authority to avail of the decrees of the maturing. Dividends are regularly paid. Operations and
Circuit Court of the United States, adjusting and establishing said in¬ five years past were as follows:
Dir.
Net
Gross
Passenger Freight (ton)
debtedness, are assigned and transferred to the Farmers’ Loan & Trust
Earn’ gs. p.c.
Earnings.
Mileage.
Years.
Miles.
Mileage.
J7
10
Company, as trustees, for the further security of the bonds and deben¬
222,32
4,098,560 ^ 501,396
6,207,451
61
tures herein referred to. The capital stock authorized by the charter is
10
206,084
501,604
3,906,131
61
6,250,991
10
$10,000,000, or 100,000 shares of $100 each, of which there have been
207,759
520,820
4,308,194
5,899,088
61
issued 53,206 shares. The debentures are secured by a deed of trust of the
10
206,301
477,834
5,742,605
6,214,917
61
land, about 1,150,000 acres, and reoeive 7 per cent, if earned. Operations
10
222,275
516,594
7,366,813
6,322,281
61
for five years past were as follows;
were

$195,907 and net earnings, $60,335.




..

^

40

•RAILROAD

Subscribers will confer

a

STOCKS

AND

BONDS.

great favor by giving immediate notice of any error discovered
in these Tables.

DESCRIPTION.
For explanation of column

Miles

Leadings, <fcc.,

first page of tables.

on

see notes

Ntsquehoning Valley—Stock

Newbury & New York—1st mortgage
New Castle d- Beaver Valley—Stock
New Haven <£• Derby— 1st & 2d mortgages.
New Haven d Northamp. (canal RR.)—Stock
Mortgage bonds, coupon
Bonds convertible, tax free, coupon
Holyoke & W.,leased, 1st M.t$60,000 6s, ’98 guar.)

1874-569

Date

of

of

90
5
44
12
15
13
100
92
....

10

....

....

....

mortgage, sinking fund (Hudson River)

f

£2,000,000 5

Value.

coupon or regis
tered.

Outstanding

$50
1869

500 &c.

720,000
250,000
800,000

50

....

100

....

1869
1879'
1870

1,000
1,000
1,000
1,000

....

1870
1871
1873
1869
....

1865
1872
18S0
1871
1874
....

1853
1854
1853

1,000
1,000

....

....

....

1873
1873

....

1,000

1,000

2,120,000
1,500,000

387,500
1,500,000
4,000,000

4,000,000

89,428,300
6,632,900
74,500

592,000

162,000
2,391,000

1,794,000
18,465,000

j 9,733,333

Where Payable, and by
Whom.
Payable

M. & S.
A. & O.
M. & N.

Philadelphia, Co.’s office
N.

Y., Union Trust Co.

pal,When Due.
Stocks—Last
Dividend.

March 1, 1880
Oct. 1, 1904
Nov. 1.

i889

1%
6
7
5
8 or 7 g.
6 g.
2
6
6
6
6
6
7
7
6 g.

Q.-J.
Newcastle, Penn.
Various New Haven, Treasurer.
J.
A.
A.
A.
F.
F.
M.
M.

&

Oct., 1873

New London, Office.
& O. N. Y., B’k of N. America
& D.
do
do
& J.
do
do
& J. New York, Co.’s OfHce.
A N.
London,
& N.

&
&
&
&
J. &
J. &
J. &

Jan. 1,

Sept.,

July.
July,

Jan.

1,

1880
1885
1892

1910
1915

Baring Bros.

Q.-J.
M.
M.
M.
M.
J.

1898 to 1900

J.
Jan., 1899
O.
April ’80 & ’82
& 0.
Apr.1,’91 &’98
& O.
April 1, 1909
& A.
N. Y., Co.’s Office.
1895
& A.
do
do
1881
& S. New York and London. March
1, 1893
& N.
In default.
Nov. 1. 1889

Q.-J.

A.
J.
J.
J.
M.

April, 1880

New Haven.
do
do
do
do

N.
N.
N.
D.
D.
J
J.

May 1, 1904
N.Y., Gr. Central Depot. April 15. 1880
do
do
May 1, 1883
do
do
May 1,1883
do
do

■

do
do
do
do
do

do
do
do

May 1, 1883
May 1, 1883
Dec. 15, 1887

June, 1885
1, 1903
1, 1903

Jan.
Jan.

London.

I

Nesquctioniny

Nevada Central.—Bonds admitted to N. Y. Board
April, 1880. (V. 30,
p. 409.)
Newark d Hudson.—Bergen Junction to Newark, N.
J., 6 miles. Leased
to New York Lake Erie & Western at a rental of
$33,000 per annum,
which pays interest on bonds and 7
per cent on the stock of $250,000.
Cortlandt Parker, President, Newark, N. J.
Newark Somerset d Straitsvillc— Newark,
Ohio, to Shawnee, Ohio, 44
miles. Road was completed in 1871. Leased to
Sandusky Mansfield &
Newark for 14 years from January 1,1872.
Operated by the Baltimore
<fe Ohio, which pays 30 per cent on
gross earnings, .and advances any
additional amount necessary to meet the interest on the
debt. Capital
stock, common, $783,900, and preferred, $189,550. Gross
earnings in
1877-8, $135,295; net, $50,749 ; deficit to lessee, $5,251.

Newbury Dutchess d Connecticut.—Dutchess Junction

to Millertown,
N. Y., 59 miles. The Dutchess & Columbia
Railroad was sold August 5,
1876, and this company was organized January 8, 1877,
by the
chasing bondholders. In 1877-8 gross earnings were $135,823; pur¬
net,
$5,921. The common stock is $172,000 and preferred stock

$715,350.

John S. Schultze, President, Moor’s Mills, N. Y.

Newbury d N. F.—Vail’s

Gate Junction to Greenwood Junction, 13
Leased October 5, 1866, to Erie
RR., at $17,500 per annum, arid
operated now by N. Y. Lake Erie & Western. Nominal stock,
miles.

New

1874-596.

1,500,000
916,000

100
500 &c.
500 &e.

1854

840
840

260,000

£100&c

1,000

(V
7
3
7
6
6 & 7
6
7 g.
7
7 g.
7

1,200,000
3,000,000

300,000

Bonds—Princi"

<

When

7

1,296,000
192,000

100
100 &c.
500 &c.

1,000
1,000

6
6
7 g.

605,000
525,000
2,460,000

100 <fcc.
100 &c.

1,000
1,000

3*s

1,164,500
250,000

68&70 500 &c.

end, Pa., 17 miles; Timnel Branch, Hauto, Pa., to Lansford, Pa., 1 mile;
total, 18 miles. Opened in 1870, and was leased for 999 years to the Le¬
high Coal & Nav. Co. at a lease rental of $130,000per annum, but with an
option for the lessees to terminate it after 1878. In 1879 the lease was
modified so as to pay 7 per cent a year
only. (See terms, V. 29,p. 18.)

miles.

INTEREST OR DIVIDENDS:
Rate per
Cent.

$1,300,000

1,000

....

....

Amount

1879

....

$30,000,000 )

or
Par

16is

Cob sol. bonds
N.J. Midland—1st rnort., g’ld, guar, by N.Y.& O
80
2d mortgage, currency
80
New Jersey
37
d New York— 1st mort. (for $1,500,000)
N. J. Southern—1st mortgage
78
New London Northern—Stock
100
let mortgage bonds
100
2d mortgage
100
Consol, mortgage (for $1,500,000)
100
N. O. d Mobile— 1st mortgage
140
N. Y. d Canada—1st M., sterling, guar. D.&H. Can.
113
New York Central d Hudson River—Stock
1,000
Premium bonds
(N. Y. Central)
Bonds, B. & N. F. stockholders
do
Bonds railroad stock
do
Bonds real estate
do
Renewal bonds
Naw
jsew morte-ae-eJ
mortgage

Size,

Road. Bonds

Nevada Central— 1st mortgage, gold
Newark d Hudson—1st mortgage
Newark Somerset & Straitsv., O.—1st mortgage
Newbury Dutchess d- Connecticut— Income bonds...

2d

[Vol. XXX.

$500,000.

Castle d Beaver
Road in

Valley— Homewood, Pa., to New Castle,
operation since 1860. Leased to Pittsburg Fort Pa., 15

Wayne
& Chicago Railroad for 99 years at a rental of 40
per cent ou
ings. Lease transferred to Pennsylvania Company. There gross earn¬
is no debt.
In 1878, 24 per cent in dividends was
paid; in 1879, 13
earnings in 1879, $257,815; rental received, $103,126. per cent. Gross
New Haven d$ Derby.—New Haven,
Conn., to Ansonia, Conn., 13 miles.
Road opened August 9, 1871. Capital stock is
$447,100. New Haven
City guarantees the $223,000 second mortgage bonds. Cross earnings
in 1877-8, $102,113; net, $36,409.
New Haven d Northampton.—From New
Haven, Conn., to Williamsburg,
Mass., 84 miles. Branches: Farmington, Conn., to New
Hartford, Conn.,
14 miles; Simsbury, Conn., to
Tariffville, Conn., 1 mile.
Holyoke to Westfield, Mass., 10 miles; total owned, leased and Leased:
operated,
109 miles. This

company has a perpetual lease of the Holyoke and
Westfield Railroad at 50 per cent of the
gross earnings, but a minimum
of $14,000 per year is guaranteed. This
company voted January, 1880,
to build an extension to Turner’s Falls, with branch
to the State road, at
an estimated cost of
$650,000. Operations and earnings for five years
past were as follows:
Years.

Miles
109
109
109
109

Passenger
Mileage.
4,926,399
4,626,908
4,516,618

Freight (ton)

5,455,832

11,889,310

Mileage.
10,101,674
I,1256,872
II,719,954

Gross

Net

Earnings. Earnings
$592,701 $193,451
567,667
177,851
544,452

191,532

548,200

206,547
—CV. 28, p. 40, 401; V. 30, p. 43.)
New Jersey Midland.—From West
End, N. J., to Unionville (New York
line), 71 miles; leased—West End into Jersey City, 4
miles; New Jersey
Stateline to Middletown, N. Y., 13

miles; total leased and operated, 88
miles. Placed in the hands of receivers March
30,1875. The road was
■old in foreclosure Feb. 1, 1880, and
reorganized as the Midland of New
Jersey. In addition to the above mortgages there was a
consolidated

mortgage of $1,000,000 and eapitalstock $2,000,000, and
$65,000 in
certificates have been issued. Holders of
bonds, common debts, and stock of the N. J. Midland third-mortgage
Railroad were

receiver’s

allowed to fund the same into income bonds of
the new company, viz.:
Common-debt holders and
third-mortgage bondholders, for principal of
bonds to receive 50 per cent in income
bonds, Class A, and 50 per cent
in income bonds, Class
B, on payment of 10 per cent
assessment, and
stockholders on payment of 15
per cent. Those holders not
availing
themselves of this offer were allowed to
exchange their common debts
and principal only of
third-mortgage bonds for income bonds, Class B,
on payment of 5 per
cent, and stockholders on payment of 10 per cent
assessment on or before May 1.
Gross earnings in 1878 w ere
$839,703;
net'earnings, $122,406; which were fully absorbed by
extraordinary
expenses. (V. 28, p. 326, 554; V. 29, p.
252, 538, 670; V.

30, p.

9‘i,

117,169, 222, 248, 273,323, 385, 409.)
New Jersey d Neiv York.—From
Jersey
Stonv Point, N. Y., 31 miles; leased line, City (Erie Junction), N. J., to
Nanuet & New Citv Railroad
5 miles; total, 36 miles. Organized
September 4, 1874, by consolidation
of the Hackensack & New York

Railroad aud the Hackensack & New
York Extension Railroad; receiver
appointed in.1877. The Hackensack
6 New York Railroad was sold in




foreclosure August 14,1878, and

was

leased to the receivers of this
company. The plan of reorganization for
e ph
the present company was given at much
length in the Chronicle. (V.
i
29, p. 459, 538; r.3o,P. 248, 385.)
V
-

.

.

_

„

.

.

—

Neiv Jersey Southern.—From Port
Monmouth, N. J., to Atsion, N.
miles; branches—Eatontown to Long Branch, 4miles; Atsion to J., 65
miles; Manchester to Waretown, 21 miles; Sandy Hook to Atco,
Long
Branch, 9 miles; Beach Track, 2 miles; Atsion to
Bayside,
total, 158 miles. The property was sold in foreclosure March48 miles;
31, 1879
(see Chronicle, V. 28, p. 352), and the present
company wTas organized
July 25, 1879, with Judge Lathrop, receiver of the Central of New
Jersey, as president. The capital stock is $
The property was
sold subject to $136,000 on the Tom’s
River Railroad and $200,000 on
the Long Branch & Sea Shore RR. The road is
now operated as a part
of the Central New Jersey
system. (V. 28, p. 146,173,352; V. 29, p. 121.)
.

New London Northern.—From New
London, Conn., to Brattleboro, Vt.,
121 miles.
This road has been operated since Dec.
1,1871, under lease
to the Central Vermont
Railroad; the lease was for 20 years at $155,000
per year.
Consolidated mort. bonds issued to retire all other funded and

floating debt and to pay for branch recently purchased from Vermont <fc
Massachusetts RR. Operations and
earnings for five years past were as
follow's

:

Years.

Passenger

Miles

Gross
Freight (ton)
Mileage.
Earnings.

Mileage.
4,526,574

100
100
100

9,237,318

5,899,360
5,941,778

100

4,765,084

100

$500,170

10,729,982
12,169,737
11,610,469

498,730
507,889

470,455
500,491

(V. 30, p. 169, 384, 409.)

-Net

Div.

Earnings.

$123,426

p. c.

6

150,448

137,135
129,609
189,873

Neiv Orleans & Mobile.—From New
Orleans, La., to Mobile, Ala., 141
miles. This is the eastern division of the former New
Orleans Missouri
& Texas Railroad.
It has been

operated by the mortgage trustees since

February 1,1875.

Expenses have exceeded the earnings, and certifi¬
cates of indebtedness on
January 31, 1879, were $700,000. On April
24, 1880, another sale will take place, and the Louisville & Nashville
Railroad will probably purchase. (V.
30, p. 170.)
New York d Canada.—From
113 miles; branches:

Whitehall, N. Y., to Rouse’s Point, N. Y.,
Ticonderoga, N. Y., to Lake George, N. Y., 4
miles; Plattsburg, N. Y., to Ausable, N. Y., 20 miles; West
Cliazy to
Province line, 13 miles; total, 150 miles. This
company was

organized
March 1, 1873, as successor of the Whitehall &
Plattsburg and the Mon¬
treal & Plattsburg railroads. The whole line was
completed September
18,1876. The road is virtually owned by the Delaware & Hudson Canal
Company, which guarantees the bonds. The stock is $4,000,000. Earn¬
ings and expenses are included in the Rennselaer and Saratoga Railroad
returns. (V. 29, p. 581.)
New York Central <£ Hudson.—New York
City, N. Y., to Buffalo, N. Y.,
442 miles; branches oil New York Central
division, 298 miles; total
owned, 740 miles. Lines leased—Troy & Greenbush, 6;
Niagara Bridge
& Canandaigua, 98; Spuyten

Duyvil A Port Morris, 6; Junction (Buf¬
falo), 8; Syracuse Junction, 8; New York & Harlem, 127; Lake Mahopac, 7; total, 260 miles; grand total, 1,000 miles. The second track
owned is 465 miles; third track, 258
miles; fourth track, 225
miles; turnouts, 468 miles—making a total of 2,156 miles of track
owned by the company. This
company was formed by a consoli¬

dation of the New York Central and the Hudson River railroads
October
1,1869. The New York Central was a consolidation of several roads,
under a special law of April 2,1853. The
Albany & Schenectady Rail-"
road opened September 12,1831, as the MohawTk &
Hudson. It was the
first railroad built iu the State of New York.
The famous scrip divi¬
dend of 80 per cent on the capital stock was made in
December, 1868,
and on the consolidation with the niulson
River road (Nov. 1, 1869) a
further dividend of 27 per cent was distributed on
the N. Y. Central
stock and 85 per cent on the Hudson River stock. The
mortgage for
$40,000,000 was issued to lay the third and fourth
tracks, with a
sufficient balance retained by the
company to retire all prior bonds. In
November/-1879, 250,000 shares ($25,000,000) were sold to a syndicate
of bankers by Mr. W. H. Vanderbilt at
the price of 120, and 100,000
shares more afterwards. Prices of stock and
earnings monthly have
been:

1877.

-Prices of Stock.•
1878.
1879.

Monthly Earnings.
.

1880.
-129

Jan.10438-10018 10838-104 78 11714-11238 135
Feb. 10214-

106

Mar. 98

10778-10378 117

911s
8958
Apr. 94%- 85%
May 96i8- 887e
J’ne. 93

-

-

88

-103% 120

-11534 133*5-130
-112

...........

109i8-105% 117ie-11334

IIOLj-10534 12014-11738

112

-107

121i4-11778

July 95%- 893s 110 -108ie 11915-11734
Aug.10314- 923s 112 -107% 12018-116
Sept 10438- 99% 115

-Illisl20

-II8I4

Oct..l09i4-101% 114 -109 133 -119
Nov.l07%-105i5 U215-IIO 139 -126
Dec. 107is-104i4 114 -11034l33ia-127

-

....

.......

1879.

1880.

$
$
2024,812 2593,613
2210,304 2317,231

RAILROAD

April, 1880.]

STOCKS

AND

BONDS.
1

Subscribers will confer

a

great favor by giving immediate notice of any error discovered in tbese Tables.

DESCRIPTION.
For

explanation of column headings, &c.,
on first page of tables.

Miles Date Size, or
of
of
Par
see notes
Road. Bonds. Value.

N. Y. City Elevated.—Stock
1st mortgage, $ or £
N. Y. City d Northerni-lBl mortgage

$100

Outstanding

$6,500,000

5987811875-96
15

Ncw.York d (jirecmcood Lake.—Xht mortgage

Sinking fund

....

....

132

....

....

....

132

$12,000,000)

1872
1861

....

New York Housatonic d Northern,—1st mortgage...
N. Y. Lake Erie d West.— Stock, common
Preferred stock
1st mortgage (extended in 1867 to 1897)
2d mortgage, convertible (extended in 1879).....

3d mortgage
4th mortgage, convertible
5th mortgage, convertible
Buffalo Branch Bonds

5

s

....

:

....

....

Long Dock Co. mortgage

....

1st consolidated mortgage, gold
*.
do
do
funded coupon bonds
N. Y. L. E. & W., new mort., gold, 1st lien
do
do
do 2d consol
do
do
do
do fund. coup.
do
income bonds (non-cumulative).
New York d Long Branch—Stock ...;
N. Y. d Manhattan Beach— 1st mortgage
2d mortgage
T. ~
N. r. d New England r Bost., Hartf. d Erie)—Stock.
1st mortgage, new (for $10,000,000)
New York New Haven d Hartford—Stock
Harlem & Portchester, 1st mortgage guaranteed.
.

459
.

.

m

.

....

a

m

m

m

....

.....

1847
1879
1853
1857
1858
1861
1863
1870
1878
1878
1878
1878
1878

23

-

ending
Gross
Sept. 30 Earnings.
1872.. $25,580,675
1873..
1874..
1875..
1876..
1877..
1878..

1879..

29,126,851
31,650,386
29,027,218
28,046,588
26,579,085
28,910,555
28,396,583

19,603,793
21,937,031

9,523,057

20,833,512

9,713,354
7,339,195

19,635,738
20,872,109

7,213,075
6,943,347
»,038,445

20,802,097

7,594,485

1876

12%

1873

$7,244,831

1874-956.

ex.
ex.

7
5
7
7
7
7

J.~&

N.Y., Treasurer’s Office.

New York.
& N.
New York.
& A. New York, Co.’s Office.
& S.
do
do
& J. N.Y., Gr. Central Depot.
& J.
do
do
& N.
do
do
& J.
do
do

M.
F.
M.
J.
J.
M.
J.

M.
M.
M.
A.
J.
J.
J.
M.
M.

&
&
&
&
&
&

J.

N.
S.
S.

N. Y., Co.’s office.

do
do
do
do
do

do
do
0.
do
D.
do
J.
do
D.
UO
do
8. New York and London.
S.
do
do
N.
do
do
D.
do
do
D.
do
do
D.
do
do
•

7
7 g.
7 g.
6 g.

&
M. &

6 g.
5 g.
0 g.

J.
J.
J.

7
5

J. & J.
Boston.
J. & J. N.Y., Grand Cen. Depot.
A. & 0.
do
do

&
&

&
&
&

April 1, 1880
Jan.

1.

1906

May, 1908
April 1, 1880
April 1, 1880

May, 1900
Jan.

1,1881

May 1, 1897
Sept. 1, 1919
Mar. 1, 1883
Oct. 1, 1880
June 1, 1888

July 1, 1891
Jan., 1893
Sept. 1, 1920
Sept. 1, 1920
Dec.
Dec.
Dec.
June

1,
1,
1,
1,

1908
1969
1969

1977

6,136,000

....

1,000

100

1,000

Surplus.
$727,039

7,136,790
2,386,267
7,136,884
2,576,470
7,136,679
202,515
7,139,528
73,547
7,140,659 Def.197,312
7,139,528
898,917
7,139,528
454,957

Total. $227,317,944 $162,981,110 $64,336,833 $57,214,429
New York

Q.—J.

6 g.

300,000

139
139
141

Net Income. Dividends.

$7,971,871

21,688,022

7
7
7
3
3
7
7
7

4,708,000
15,500,000
2,000,000

6 & 7

-Prices of Stoek.-Cornmon.-Preferred.1879.

Jan.

$17,608,804

or

500^000

Operat’g Exp’s,
Interest and
Rentals.

7

8,500,000
500 &c.
1,800,000
100 &c.
900,000
100 &c.
1,800,000
50
7,950,000
50
1,500,000
1,000
10,500,000
500 &c.
107,704
249,000
100
77,107,700
100
8,146/700
1,000
2,482,000
1,000
2,174,000
1,000
4,852,000
1,000
2,937,000
500 &c.
709,500
100 &c.
182,600
1,000
3,000,000
1,000
16.656,000
500 Ac.
3,688,001
1,000
(?)
500 &c. 24,400,000
500 &c.
8,597,400
300 &c.
508,008
2,000,000

This abstract of operations for eight years was issued by the syndicate:
REVENUE ACCOUNTS—1872 TO 1879—EIGHT YEARS.
Year

2%

1,000

1878
1875

40

2<ttmort., income, (issued for old firsts)
Nei&Yoi'k d Harlem—Common stock
Preferred stock
Consol, mort., coup, or reg., (for

1876

....

Bonds—Princi¬
pal, When Due.
Rate per When Where Paj rable, and
by Stocks—Last
Cent. 1 Payable
W1 10m.
Dividend.
INTEREST OR DIVIDENDS.

Amount

$7,122,404

City Elevated.—From South Ferry, N. Y., east side, to 129th

street; west side, to

street; total, 14 miles. The property was
leased to the Manhattan Railroad, with a guarantee of 10 per cent divi¬
dends on the stock. The last report of operations for the year
ending

Sept. 30,1879, was given in the Chronicle, Y. 29, p. 630. Passengers
carried in 1879, 29,875,912. During the four months ending January
5,1880, the record was as follows: Miles operated, 14; gross receipts,
$922,121; operating expenses, $291,400; net earnings, $640,721.
Total real cost of this road to January, 1880. is estimated to have been
$8,719,038. (V. 28, p, 302, 526, 553, 579 ; V. 29, p. 407, 511, 630; V.
30, p. 144, 357, 385.)
New York City d Northern.—From High Bridge, N. Y.j to Brewster’s,
N. Y., 51 miles. This ’company was organized February 18, 1878, and
acquired the New York Westchester & Putnam (formerly the New
York & Boston Railroad), sold in foreclosure March, 1876. The com¬
pany in April, 1880j increased its stock to $3,000,000. R. M. Gallaway,
President, 3 Broad street, N. Y. (V. 27, p. 172; V. 30, p, 409.)

2738- 21%

Feb.
Mar.

1880.
48 - 4178

27 %- 24

257sApr. 2711May 29 %J’ne. 28%-

July 28
Aug. 2858-

4878- 44%

231s
24%
26%
26%
27%

51i4- 37%
50 - 43%

-

46is- 421^

-

4978- 45
54

....

.

-

23

-

32
37

-

Month!

Earnings

187

1880.

1880.

$

73%- 675s 1147,173 1296,331
7378- 70
1207,391
1356,780

........

1372,755

-

48

1350,574
1230,419
1273,532
1450,223
1492,495

-

52%- 4934
53 -51%

-

53 - 44
60 - 45%
67 %- 56%

-

Sept 34%- 235s
Oct.. 4312- 32%

No v. 49
Dec. 44

1879.

-v

Jan., 1.905
Jan. 1, 1880
1903

-

-

1713,697

-

78%-. 60
1515,835
72
65%
—The layin g of the third rail was completed on December
24, 1878.
The last annual report was published in the
Chronicle, V. 29, p. 679,
The operations and earnings for five years past were as
follows:
Yeareud’g
Passenger
Freight (ton)
Gross Traffic Net Traffic
Sept. 30.
Mileage.
Mileage.
Earnings.
Earnings.
-

-

-

.......

155,396,804
163,074,795
170,888,380
140,326,749
168,390,000

-

1,016,618,050
1,040,431,921

1,114,586,220

$16,876,858
15,852,461

$4,197,727

14,708,890
15,644,978

3,809,050

15,942,022

4,767,323

1,224,764,438
1,569,223,137

3,621,259
5,009,114

The company has receipts from other sources, and the total net income
each year (charging full interest on the debt as it
stood), as compared
with the annual charges, were, as follows:
Years.
y
Net Income, Int,, Rent’ls, &c.
Surplus.
Deficit.
1874-5
$4,698,615
$6,351,781
,

.

~

4,308,563
4,636,717
5,718,927

5,538,194
5,937,801
5,093,496
4,153,255

$..

$1,653,166
1,229,631

1,301,084

625,431.
1,316,105
—(V. 28, p. 17, 67, 302, 352, 401, 477, 579, 600; V. 29, p. 18, 147,
New York d Greenwood Lake.—From Jersey City, N. J., to Greenwood 171, 197, 302, 358, 383, 433, 538, 564, 607, 631, 679,
680; V. 30, p.
Lake, 40 miles; extension, 1% miles; total, 41% miles. This was the 43, 67, 170, 222, 273.)
Montclair Railroad, opened in 1874. It was sold and reorganized as
New York d Long Branch.—Perth
Montclair & Greenwood Lake, and again sold October 12, 1878, and the miles. It is leased to Central Railroad Amboy, N. J., to Long Branch, 23
of New Jersey, forming part of
present company organized. The New York Lake Erie & Western pur¬ tne Long Branch Division of that road. No further
information given.
chased a controlling interest in the property and now operate it. The
Anthony Reckless, President, N. Y. City.
holders of the second mortgage bonds have a right to pav off the first
Nciv York d Manhattan Beach.—Greenpoint, N.
Y., to Manhattan
mortgage bonds of $900,000 at 105, and thus gain control of the prop¬ Beach, 15
miles; leased roads to Flatlands and Manhattan Beach Junc¬
erty.
(See Vol. 27, p. 172, 228.)
It is reported that the New York
tion, 7 miles; total, 22 miles,
Lake Erie & Western purpose extending the road and
making it an im¬ the bonds, $200,000, and stock
portant part of their line. No recent report of operations has been
Jamaica Railroad. Road opened
made.
July
(Y. 27, p. 16, 68, 95, 172, 192, 228, 252, 303, 357, 383, 436, 462, Gross
earnings in 1877-8, $298,147. Austin Corbin, President, N. Y. City.
539, 628, 652; V. 30, p. 409.)
New York d New England— From Boston, Mass., to
Willimantic, Conn.,
New York d Harlem.- From New York City to Chatham, N.
Y., 127 86 miles; branches to Woonsocket Railroad, 34 miles; to South Bridge,
miles. From Chatham to Albany, 24 miles, the Boston &
17 miles; to Dedham, 2 miles; total branches,
Albany Rail¬
53 miles; Rhode Islancf&
road is used. This company owns 5% miles of street railroad on the Massachusetts Railroad
(leased), 14 miles; Hartford Providence & FishFourth avenue. The property (except the horse railroad) was leased kill
Railroad, acquired in 1879, 133 miles; total operated, 286 miles.
April 1,1873, for 401 years, to the N. Y. Central & Hudson River RR., This was the Boston Hartford & Erie Railroad, which became
insolvent
at a yearly rental from the lessee of 8 per cent dividends on the stock and and was
succeeded by this
company, formed in 1873. The Boston Hart¬
the interest on the bonds. The Fourth avenue horse railroad,
together ford & Erie’s principal debt was the Berdell mortgage for $20,000,000,
with valuable real estate, was retained
by this company, and extra for which the stock of this present company ($20,000,000) was issued. In
dividends are paid out of the receipts therefrom annually in April. All 1878-9 the
company acquired the Hartf. Prov. & Fish. RR. by the pay¬
operations of the main road are included with those of the N. Y. Central ment of its bonds. The bonds of the new
mortgage, issued in 1879, are to
& Hudson. (V. 28, p. 18.)
pay for the extension of the road to the Hudson Riv. See last annual report
V. 29, p. 607. Operations and earnings for five years past were as follows:
New York Housatonic d Northern.—Foreclosure sale made in
April,
Fri *
Passenger
Gross
Net
reight (ton)
1880, for $111,000 to Horace Bridgeman. (V. 30, p. 118, 248, 323, 384.) Years.

New York Lake Erie d Western.—From Jersey City, N. J., to Dunkirk,
N. Y., 460 miles; Piermont branch, 18 miles:
Newburg branch, 19

miles; Buffalo branch—Homellsville, N. Y., to Attica, 60miles; total
owned, 557 miles; road operated under lease and contract, 413 miles;
total operated, 969 miles. The New York & Erie
Railway went into the
hands of a receiver in 1859, and in 1861 the Erie Railway was organized
as its successor.
The Erie Railway defaulted on its bonds in 1875, and
was sold in foreclosure under the second consolidated
mortgage in 1878.
The present company was
organized' and took possession June 1,1878.
Under the plan of reorganization the above statement
represents all the
stocks and bonds issued to September 30, 1879.
The total interest
charge each fiscal year will be as follows: 1879-80, $3,987,878; 188081, $4,229,678; 1881-82, $4,229,678; 1882-83, $4,258,080; 1883-84,
$4,314,884. By the terms of the plan one-half of the stock, both com¬
mon and preferred, is issued to “
Voting Trustees” in London, who shall
vote on them until the dividend on the preferred stock
(6 per cent) has
been

paid for three consecutive years. The funded coupon bonds are
lien of consolidated mortgage. On the second consolidated,
first coupon is payable June, 1880. The second funded
coupon bonds are
5 per cents till June, 1883, and
after that 6. On the second mortgage and
second funded coupon no foreclosure can take
place till six coupons are
in default.
The most prominent feature of the reorganization was tho
provision for outlay of new capital on the
property, and up to September
30,1879, the cash from assessments of stock amounted to $3,416,578.
Prices of stock and earnings monthly have been as follows:
secured by




5,409.360

Miles.

139
139
139
153
286

Mileage.
18,607,127

20,199,327

19,652,913
23,269,082

-(V. 28, p. 353, 428; V. 29, p. 17,
607; V. 30, p. 248,357.)

Mileage.
9,304,650
9,468,574
11,321,038
18,938,845

Earnings. Earnings.

$899,023 $132,403
963,325
225,855
965,601
194,916
1,006,287
197,890
1,971,536
542,145
42,147, 253, 278, 383, 434, 489, 537

New York New Haven d Hartford.—From Williamsbrid
ige, N. Y., to
Springfield,Mass., 123 miles; branches to New Britain, Mid
Idletown and
Suffield, 18 miles; leases Harlem & Portchester Railroad, 12 miles;
total, 152 miles. This was a consolidation July 24,1872, of the New
York

& New Haven and the Hartford & New Haven railroads. The
company uses the New York & Harlem Railroad from Williamsbridge
into New York City and pays a large toll therefor. The
company lease*
the Harlem River & Portchester Railroad and
guarantees the bonds. The
company has no debt of its own, having paid all off in 1875.
and earnings for five years past were as follows:

Years.

1875-6..
1876-7..

1877-8..
1878-9..

(V. 28,

Miles.
152
152
152

Passenger
Mileage.

123,003,659
123,866,661
111,641,817
152
105,458,051
152
103,113,443
p. 40; Y. 29, p. 510;

Freight (ton)
Mileage.
34,936,946

37,224,658
39,646,733

45,594,854

Operations

Gross
Earnings.

Eamin

4,303,340
3,938,406
3,817,281
3,912,743

1,729,279
1.716,029
1,648,788
1,670,862

Net

$4,540,113 $1,812,71

63.187,479
Y. 30, p 15 99.

Div.
p. c.
10
10
10
10
10

Subscribers will confer

a

explanation of column headings, &c., see notes
on first page of tables.

New York Ontario A Western—Preferred stock
Common stock ($48,000,000 authorized)
New York Pennsylvania A Ohio—Prior lien bonds
1st mort., incomes till
2d mortgage, incomes

..

July, 1886 ($18,000,000)..

($12,000,000)
3d mortgage, incomes ($29,000,000)
Leased lines rental gold bonds (Cl. & M.)
do

do

Miles
of

Date
Size, or
Par
of
Road. Bonds Value.

344
344
427
460
460
460

•

N Y. Prov. A Boston—(Stonington)—Stock
Extension mortgage
First mortgage

Niagara Bridge A Chnandaigua—Stock

•

•

$2,000,000
35,000,000
18,000,000
8,000,000

500 &c.
500 &c.

1879
1871
1872
1873

1869

58
56
56

~

*"50

1874-965*.

500 &c.
500 &c.

for 2d mort.

1st

mortgage, new
2d mortgage, new
Northern (Cal.)—1st mortgage
Northern Central—Stock
1st mortgage, State (Maryland) loan
2d mortgage, sinking fund, coupon
3d mortgage, sinking fund, coupon

Consolidated mortgage, gold, coupon

1880

1869
1869
1877

102
113
317

50
50
500
500
50

138
138
138
138

1855
1865
1868

organized January 22, 1880, and under the plan of

reor-

Sanization the holders of receiver's certificates took preferred and inter¬
rst mortgage bondholders took common stock for principal stock, the
est, and the holders of other old bonds, notes, judgments and claims

against the company were permitted to come in and take new stock at
par for their claims on payment of assessments in cash. The following
statement as to this was published in the Chronicle of Jan. 24:
“
The following stock may be issued by the new company :
Preferred stock to be issued for receiver’s certificates
$2,000,000
Common stock for first mortgage bonds and interest
13,000,000
“The following common stock may be issued on payment of 20 per cent
cash within 30 days from January 22, 1880;
For second mortgage bonds (interest to May, 1879)
$4,000,000
For equipment bonds (interest to April, 1879)
3,800,000
For consolidated bonds (interest to May, 1879)
1,400,000
Interest on the foregoing, about
4,000,000

Floating debt and interest to January 1, 1879, about

7,200,000

Western extension bonds endorsement, about
3,500,000
“
The following may be issued on payment of 30 per cent cash within
six months from January 22,1880:
For old stock
$6,800,000

For convertible non-mortgage bonds
2,707,000
The stock of the company was admitted to the N. Y. Stock Exchange
list in February, 1880, the total of preferred stock being $2,000,000 and
the common stock authorized $48,000,000. See Chronicle, V. 30, p.

170. There was much talk of the road being redeemed by the townships
holding the old N. Y. & O. M. stock—see references. Operations and
earnings for five years past were as follows;
Passenger Freight (ton)
Gross
Net
Years.
Miles.
Mileage.
Mileage.
Earnings.
Earnings.
371
1874-5
15,065,001
4,759,385
$592,591 Def. $40,473

•

Bonds—Princi¬

pal,When Due

Whom.

Stocks—Last.
Dividend.

London, Co.’s Office.

Sept. 1, 1895

Payable, and by

....

6

M.
J.
M.
M.
J.
J.

5-7
5
5 g.

& S.

& J. New York and London.
& S.
do
do
& N.
do
do
& Jt
do
do

6

M. & N.

3
3
3
8

J.
J.
M.
M.
M.

800,000
899,350
86,000
820,000
234,000
2,435,000
5,842,000
1,500,000
1,490,000
1,126,000
2,599,000

500 &c.

New York Ontario A Western.—Oswego, N. Y., to Middletown, N. Y., 249
miles; branches to Courtland, N.Y., 48 miles; to New Berlin, 22 miles; to
Delhi, 17 miles; to Ellenville, 8 miles; total operated, 344 miles. This
was the New York & Oswego Midland.
Main line was opened July, 1871.
It connects with the N. J. Midland to N. Y. City. Default was made in
1873, and the property placed in the hands of receivers September 18,
1873. The Western Division was sold in foreclosure May 31, 1876, and
the main line was sold in foreclosure November 14, 1879. The present

-

7

1,500,000

500 &c.

1,000

•

4, 5,6

2,569,500

60
102
102
102

.

Where

Payable

1,000,000
3,000,000
1,000,000
210,000
1,074,900
4,527,150
1.930,500

100
100
500

’67-’68

When

Rate per
Cent.

1,000.000

1,000
1,000

1860

discovered In these Tables.

5,355,000
3,568,000
3,000,000
50,000

1,000
1,000

100

62
12
50
98
223
223
79

Mortgage bonds
North Pacific Coast—Stock

Amount

Outstanding

500

223

North Carolina—Stock, common
Preferred stock

company was

[Vol. XXX,

INTEREST OR DIVIDENDS.

$....

•

1879
1879

(P. P., P. V. and S. & A.)

North Pennsylvania—Stock, guar
1st mortgage
2d mortgage
General mortgage bonds
North Wisconsin—1st mortgage
Northeastern (S. C.)—Stock, common
Pref. stock (8 per cent) exchangeable

AND BONDS,

great favor by giving Immediate notice of any error

DESCRIPTION.
For

STOCKS

RAILROAD

42

2 &c.
2

& J.

Q.-J.

& J.

& J.
& S.
& S.
& N.

1904

Sept., 1909
Nov., 1914
Jan., 1902
London, Co.’s Office.
Jan., 1903
N. Y., M. Morgan’s Sons. Feb.10,1880
do
do
Mayl, 1880
do
do
July 1, 1899
Jan. 2, 1880
Company Shops, N. C. Mar. 15, 1880
do

do

Mar. 15.1880

do

do

Nov., 1888

6
7

J.

& J.
M. & N.

do
do

do

Feb.
Jan.

do

May 1, 1896

7
6

J. & J.
J. & J.

do

do

4
8
8
6
3
6

M. & N.
M. & 8.
M. & S.

1*3

Q.—F.

•

•

•

Philadelphia Office.

6
6 g.

1.

1885

1903

New York.

Jan.

Charleston.
do

Sept. 1, 1899
Sept. 1, 1899

1,

1930

1907

•

M. & N.

6

25,1880

Baltimore & Philadel.

April 1, 1876
Irredeemable.
Q.-J.
Annapolis.
J. & J. Baltimore, 1st Nat. Bk.
July, 1885
A. & O.
do
April, 1900
J. & J.
do
July, 1900

(2.) The leased lines’ bonds of 1873 are to receive the net profits up
7 per cent
(but not less than 2 per cent during the first two
ears) arising from the working of the lines whose securities are held
y trustees. The prior lien bonds are to provide for payment of old

to

E

Ohio Div.

mortgage, for change of gauge, and for reorganization ex¬
The company, as reorganized, will have funded debt and stock
substantially as follows, including 37 per cent overdue interest on first
and 12 per cent on second mortgage bonds;
Principal.
Inte rest
Prior lien bonds, $8,000,000, at 6 per cent per annum
$480,000
First mortgage, $25,280,845, at 5 per cent if earned
1,264,042
Second mortgage, $11,627,886, at 5 per cent if earned
581,394
Third mortgage, $28,783,000, at 5 per cent if earned
1,439,150
Preference shares
$10,000,000
Common shares (estimated)
25,000,000
Earnings, &c., have been as follows:
penses.

Gross

Years.
1876
1877
1878

Miles.
512
512
512

Net

Earnings.

Earnings.
$717,973

$3,672,365

Extraordinary
Payments.

$858,052

3,805,305
764,423
832,261
3,745,207
675,849
707,962
-(V. 28, p. 222, 276, 399, 452, 476, 525, 553, 577; Y. 29, p. 40, 196,
213,406, 537,563, 608, 656; Y. 30, p. 42, 143.)
New York Providence A Boston— Providence, R. I., to Stonington,
Conn., 50 miles; extension to Groton, Conn., 13 miles; total, 63 miles.
The company owns a majority interest in the Providence & Stonington
Steamship line, which has a capital of $1,400,000. For the fiscal year
ending September 1, 1879, annual report is given in V. 29, p. 629.
Operations and earnings for five years past were as follows:
Frei
Gross
’eight (ton)
INet
Div.
Passenger
Years.

*

Miles.

Mileage.

62
62

Mileage.

17,524,648
19,570,190
15,378,852

9,178,512
10,128,540
9,222,206
10,405,601

62
62

17,858,442

Thirteen months,
Steamboat Company,

Earnings.
$829,796
935,268
718,726
710,038

Income.

465,201

p. c.
10
10

358,997

10-8

398,116
318,656

10
10

$408,541

700.111
received from

t Including dividends
Stonington
and other receipts.
Niagara Bridge A Canandaigua— From Canandaigua to Suspension
371
1875-6
4,052,620
12,957,503
535,845
49,146
Bridge, N. Y., 98 miles. The road is leased in perpetuity to the New
1876-7
344
6,514,676
13,542,809
568,204
39,331 York
Central <fc Hudson at $60,000 per annum. Has no debt, but prior
1877-8
344
5,579,976
12,701,830“
560,020
53,662
to foreclosure mortgages were $2,170,000.
1878-9
35,814
523,592
North Carolina.—Goldsborough to Charlotte, N. C., 223 miles. The
—(V. 28, p. 18, 42, 277, 302, 580, 625; V. 29, p. 147, 302, 330, 434, 489,
538, 581 ; V. 30, p. 43, 92, 170, 222, 241, 323, 384.)
property was leased September 11,1871, to the Richmond <fe Danville
New York Pennsylvania A Ohio—The Atlantic & Great Western Rail¬ Railroad for 30 years at a rental of $260,000 per year. Dividends of 6
way, extended from Salamanca, N. Y., to Dayton, O., 387 miles, with per cent are paia on the stock, of which the State of North Carolina holds
branches to Oil City, 34, and to Silver Creek, ILj miles; leased lines— $3,000,000, and the dividends thus received by the State are applied to
Mahoning 80, Westemian 113, and Sharon 7% miles; total, 512 miles. her bonds issued to the North Carolina Railroad. (V. 29, p. 96.)
Consolidation August 19, 1865, of three companies in New York, Penn¬
North Pacific
Coast.—Sancelito to Moscow Mills, Cal., 74 miles;
sylvania and Ohio. Reorganized Nov. 10, 1871. Opened through in branches, 6 miles; total, 80 miles. Stock, $1,074,900; floating debt,
June 30,1877, $2,017,114; net earnings in 1876-7, $73,758. No later
June, 1865. Receiver appointed April 1, 1867.
Leased to Erie on
December 8, 1868. Again in receiver’s hands April 1, 1869. Leased to reports.
Jan. 1, 1870. Sold July 1, 1871, and once more leased to Erie on
Erie
North Pennsylvania.—From Philadelphia, Pa., to Bethlehem, Pa.,
May 1, 1874, but lease not carried out. Again in hands of a receiver miles; branches—Jenkintown to Delaware River, 20 miles; Landale 56
to
Dec. 9,1874. Sold Jan. 6,1880, and now in course of reorganization by a
London committee of stock and bond holders. (See V. 30, p. 143.) Five Doylestown, 10 miles; Iron Hill to Shimersville, 2 miles; total, 88 miles.
The Northeast Pennsylvania Railroad and the
Stoney Creek Railroad are
trustees are to exercise the voting power of the new stock until the third
operated under contract. - The company has been doing a fair business,
mortgage bondholders receive 7 per cent interest in cash during three but
paying very moderate dividends, and in May, 1879, was leased for
years. Three of these trustees are to be chosen annually by a majority 990 years to the Philadelphia & Reading Railroad on the terms as stated
in value of the first mortgage bondholders, one by the second
mortgage in V. 28, p. 625, viz., that the lessees should pay in quarterly payments
bondholders, and the fifth by the leased line bondholders.
The new securities and stock of the reorganized company are to be (February 1, May 1, August 1 and November 1) $673,344 for each of the
the first and second years; in the third and fourth years each $718,615,
issued upon the following basis: (l.) New first mortgage 25-year bonds,
and after that $763,887 per year. This is intended to cover all fixed,
to bear 5 per cent interest for the first 5 years and 7 per cent thereafter,
whatever portion of this that may nor be earned to be payable in charges of the lessors, and pay 6 per cent on their stock for two years,
7 per cent for two years and 8 per cent afterwards. The net revenue of
deferred warrants, to be capitalized in bonds of the same class; pay¬
the company was $573,061 in 1877-8, $562,047 in 1876-7, $786,519 in
ment of interest to become absolute not later than July 1,1886, until
1875-6. (V. 28, p. 503, 625.)
which time the right to foreclose the mortgage is suspended.
These
North Wisconsin.—In progress from Lake St. Croix to Bayfield, Wis.>
bonds are to be issued for the conversion of tne existing first mortgage
bonds, reorganization stock, with 25 per cent bonus and interest and for 165 miles. In March, 1880, 60 miles were ill operation. Stock, $900.
unpaid coupons. The amount of the reorganization stock is very small. 000. For each mile built $10,000 in bonds and $15,000 in stock to bo
(2.) Second mortgage 30-year bonds, to receive 5 per cent per annum, or issued. (See V. 30, p. 248.)
as much of the same as may be earned within the
Northeastern (S. C.)— From Charleston, S. C., to Florence, S. C., 102
year after the first
mortgage bonds have received their interest in cash, the right of fore¬ miles. This company has earned the interest on its bonds and preferred
closure to be suspeuded until Sept. 1, 1886. These hew bonds are to be stock with a good surplus. In 1878-9 gross earnings
were $346,267;
issued in exchange for the old second mortgage bonds and unpaid net earnings, $135,364, against $162,501 in 1877-8. (See last annual
coupons.
(3.) Third mortgage 35-year bonds, bearing 5 per cent interest, report, V. 29, p. 629.) The preferred stock is exchangeable for second
after the payment of inierest on the first and second
mortgages, for the mortgage bonds.
conversion of existing third mortgage bonds. (4.) Preferred stock, to
Northern California.—Oakland to Suisun, Cal., 47 miles; extension,
receive 1 per cent per annum, if earned within the year after the third
mortgage bonds have received 5 per cent in cash, to take up the present Woodland to Willows, 67 miles; total, 114 miles. Completed in 1878
preferred stock. (5.) Common stock, to receive 1 per cent after tne pay¬ and leased in part to the Central Pacific since January 1,1876, at an
annual rental of $1,500 per mile of road. In 1878 total revenue from
ment of 1 per cent on the preferred stock, to be exchanged
for the
old common stock.
The terms for the conversion of the leased rental, $346,138; surplus over annual charges, $90,553. The stock is
lines’ rental trust bonds are as follows: (1.) The leased lines’ bonds $2,819,150. R. P. Hammond, President, San Francisco.
of 1872 are to receive 4 per cent for the first three years; 5
Northern Central.—From Baltimore, Md., to Sunbury, Pa., 138 miles;
per
cent thereafter for six years, and 6 per cent thereafter until
maturity. branches—Relay to Green Spring, 8 miles; Baltimore to Canton, 5 miles;




.

~

RAILROAD

April, 1880. J

Subscribers will confer a great

Miles Date Size, or
Par
of
of
Road. Bonds. Value.

Amount

Outstanding

1874-t569
59781 7811874-56*
Northern Central—(Continued)—
Consolidated mortgage, gold, registered
Consol, mortgage, gold, s. fund, coup., $ or
2d general mort., “A,” coupon
do
“ B,” coupon, convertible
Northern Central (Mich.)—1st mortgage

13$

138
138
138
61

£—

1868
’74-’75
1876
1876

82*2

Northern, N. H.—Stock

21
21
21

Northern of New Jersey—Stock

mortgage, extended
mortgage

1869

205
209

1879
1879

1877

Ogdensbnra <£ Lake Champlain—Stock

66
118
118

Sinking fund bonds
.
Mortgage bonds for $600,000 (sinking fund)
Ohio Central— 1st mortgage gold

118
70

6
7

.

.

43,800,000
29,952,600
2,000,000
2,000,000
2,604,400
400,000
3,077,000
2,000,000
392,000
600,000
3,000,000
3,000,000
20,000,000
4,030,000
174,000
6,545,850
112,000
3,864,000
140,000
1,915,000
6,933,800
390,500
150,000
1,692,000

1188775--69*t.: 1874-956

Norwich <& Worcester—Stock
New bonds, coupon
Preferred stock

.

Bonds (not mortgage) coupon
Bonds (not mortgage) coupon
Bonds (not mortgage) coupon

and registered.

1880
1880

393
393
393

228
454

....

1,000
1,000
1,000
1,000

100
100

393

Consolidated mortgage, sterling
fund mortgage
bonds (for $1,000,000)...
Spring. Div. (Sp.& Ill. SE.) 1st M. (for $3,000,0 ‘ ‘

Cld Colony—Stock

1877

393
148

ioo

1,000

100
100

1870

Income bonds (non-cumulative)
Chio <& Mississippi—Stock, common
Preferred stock (7 p. c. yearly, cumulative)
Income and funded debt bonds.

2d consolidated sinking
Debenture sinking fund

•

1862
1868
1868
1871
1873
1874

1871
1860
1874

1,000
1,000

£200

1,000
1,000
1,000

100
500 &c.
100 &c.

1,000

leased and operated—Shamoldn Valley & Pottsville Railroad and branch,
31 miles; Elmira & Williamsport Railroad, 77 miles; Chemung Railroad,
17 miles; Elmira Jefferson & Canandaigua Railroad, 47 miles; total, 323
miles. This was a consolidation of several roads in January, 1875. The
terms of the several leases will be found under the names of the leased
roads. The company is under the management of the Pennsylvania Rail¬
road interest, and Mr. Thos. A. Scott is president. The last annual report

published in V. 30, p. 220, showing the application of income for the
1879, the earnings, &c. The consolidated mortgage (gold) is for
$10,000,000 to retire all prior bonds as they mature. Under the general
mortgage of 1876 $1,000,000 more may be issued as Series C. Operations
and earnings for five years past were as follows:
Passenger Freight (ton)
Gross
Net
Div’d
.Years.
Miles. Mileage.
Mileage.
Earnings. Earnings, p.ct.
322 29,829,323 258,540,557 $4,926,248 $1,564,124 ....
322 43,401,086 253,552,485 4,369,926 1,127,600
3
322 27,726,768 277,732,734 4,070,388 1,324,463 ....
322 24,122,837 280,236,742 3,723,457 1,118,960 ....
322
404,192,761 4,107,948 1,246,006 ....
—(V. 28, p. 220; v. 30, p. 220.)
Northern Central (Michigan).—Jonesville, Mich., to Lansing, Mich., 61
miles. Owned by the Lake Shore <k Michigan Southern Railway Com¬
pany. Stock, $610,000. S. V. Irvin, President, Albion, Mich.
Northern, N. PL.—From Concord, N. H., to West Lebanon, N. H., 70
miles; branch, Franklin, N. H., to Bristol, N. H., 13 miles; total, 83
miles. This road has done a steady, but slightly decreasing, business
during the past four years. The last annual report was published in the
Chronicle, V. 28, p. 552. The net earnings for the fiscal year ending
March 31,1879, were $107,372, against $117,140 in 1877-8; $123,150
in 1876-7; $120,810 in 1875-6. Prior to that date, earnings were consid¬
erably larger. ((V. 28, p. 552.)
Northern of New Jersey.—From Bergen, N. J., to Sparkill. N. Y., 21
miles. The company operates an extension to Nyack, called the Nyack
& Northern Railroad. This road was opened Oct. 1,1859; it was leased
to the Erie Railway April, 1869, at a rental of 35 per cent of its gross
earnings, and is now operated by the New York Lake Erie & Western.
The present bonds were extended in 1878 in place of the 7 per cents
then due. Gross earnings in 1878 were $234,719; in 1877, $238,488.
Northern Pacific.—From Duluth, Minn., to Bismark, Dakota Ter., 449
miles; branches: Western Railroad (leased), Brainerd, Minn., to Sauk
Rapid, Minn., 60 miles; Pacific Division, 137 miles; total, 646 miles.
This company was chartered by act of Congress July 2,1864, to build
from Lake Superior to Puget Sound, 1,800 miles, with branch to Port¬
land, Oregon, 200 miles. The land grant was 20 sections per mile in
States ana 40 sections in Territories, estimated to amount to 47,000,000
acres.
The company defaulted January, 1874, and the road was fore¬
closed. August 12,1878, and reorganized by the bondholders’ committee
Sept. 29,1875. To the bondholders new preferred stock was issued at
the rate of $1,400 for each $1,000 bond, and the privilege to exchange
ceased June 30,1879. This preferred stock is taken in payment for the
company’s lands east of the Missouri River at par. The stock and
bonds were placed on the New York Stock Exchange in July, 1879
(See statement, V. 29, p. 121). The last annual report, to June 30, 1879,
was published in V. 29, p. 380, to which reference is made for full details
of operations for that date, including a land department. Operations
and earnings for four years past were as follows:

V. 30, p.
follows :

year

Passenger

„

Miles.
555
585
646
720

Gross

Net

Mileage.
2,943,748

Earnings.

Earnings.
$290,026

$739,745

4,351,622

965,823

4,019,832

1,193,381
1,167,261

392,698
583,700
455,798

*
11 months only. 110 months only.
—(V. 28, p. 87, 146, 200, 554; V. 29, p. 67, 121, 293, 330, 379, 564;
V. 30, p. 67, 144, 375.)
Noricichd; Worcester—Norwich, Conn., to Worcester, Mass., 59 miles;
branch: Norwich to Allyn’s Poiut, 7 miles; total, 66 miles. In 1869 the
road was leased to the Boston Hartford & Erie for 100 years, the lessees
to pay all liabilities and 10 per cent on the capital stock. There has
been some discussion as to reducing the rental, and the present lessee
company has the option to terminate the lease, and now operates under
temporary agreement (see V. 28, p. 200). Earnings, &c., for four years
past have been as follows:
J
Net
Total
Interest &
Gross
Years.
Earnings.
Revenue.
Earnings.
Dividends.

$728,081

$281,376

716,635

315,107

666,883

269,779

$311,965
416,243
312,095

$320,580
347,129
319,533
..

—(V. 27, p. 537; V. 28, p. 200.)

t

Ogdensburg <£ Lake Champlain.—Rouse’s Point, N. Y., to Ogdensburg,
N. Y., 118 miles. The road was leased from the Vermont Central for
twenty years from March, 1870, but the lessee failed, and this company
resumed possession of its property April, 1877. The earnings of the
road have decreased of late years, and in January, 1880, the executive
committee issued a circular proposing certain terms of adjustment. See




m

m

Years.

118
118
118

Stocks—Last
Dividend.

July, 1900
July 1, 1904
Jan. 1, 1926
Jan. J. 1926

1903

•

•

i

Dec. 1, 1879
In 1880

Boston, Office.

•

City, Hudson Co. B’k.

July, 1888

....

....

*>....

Jan. 8, 1880
J. New England Trust Co.
S. Boston, N. E. Trust Co. March 1, 1897
J.
Boston, Office.
July 10,1876
do
O.
Apr. 1, 1878
do
S.
Mar., 1890
do
1897
J. & J.
J. & J. N.Y. Metropolitan* N.Bk
Jan., 1920
Jan. 1, 1920

J.
M.
J.
A.

&

&
&
&
M. &

....

....

.

7
7
6 g.
7
7
7
3
7
6

Miles.
118

& D.
.

3«*

7

whom.

J. & J. J.
M. & S.

6
6
5
6
2
4
8
6
0 g.
7
.

Payable, and by

....

....

118,144.

was

Years.

J.

0)

100

■

21*

400,000
1,000,000

100
100 &c.

Where

& 0. Baltimore, 1st Nat. Bk.
London & Baltimore.
& J.
& J Baltimore, 1st Nat. Bk.
do
do
& J.

A,
J.
J.
J.

4,473,000
3,000,000
1,000,000
1,525,000
3,068,400
1,000,000

ioo

Mortgage and land grant bonds, Missouri Div.....
Mortgage bonds, Pend d’Oreille div

When

Payable

6 g.
6 g.
5
6
7

$205,000

1,000
1,000
1,000

....

560

Rate per
Cent.

$1,000

ioo

__

cum’tive).

Northern Pacific—Pref. stock(8 p. c., not
Common stock

(

discovered In these Tables.

INTEREST OR DIVIDENDS.

explanation of column headings, &c., see notes
on first page of tables.

1st
2d

43

favor by giving Immediate notice of any error

DESCRIPTION.
For

BONDS

AND

STOCKS

M. & S.
A. & O.
J. & J.
J. & J.
A. & O.

New York, Office
do
do
do
do
London.
New York, Office.

Mar. 1, 1875

M. & N.
M. & N.
J. & J.

Boston, Office.

April.l, 1882
Jan. 1, 1898
Jan. 1, 1898
April, 1911
May 1, 1883
Nov. 1, 1905
Jan. 1, 1880

Various
A. & O.
M. & S.

do
do
do

1881
Oct. 1, 1880
March 1, 1894

do
do

do
do

Operations and earnings for five years past were as
Passenger
Mileage.
4,234,762
4,585,143
3,485,220

3,369,125

Freight (ton)

Mileage.

24,411,250
20,141,083
21,474,699
24,534,667

Gross
Net
Earnings. Earnings.
$658,883 $183,358
568,293
522,938
542,670
479,276

169,421
165,429
144,326
90,407

—(V. 28, p. 277, 526; V. 29, p. 16, 631; V. 30, p. 43, 144, 323, 358.)
Ohio Central.—The road as projected is 200 miles—Corning, O., to
iToledo, O. The section completed Jan. 1 was 70 miles—Corning to New¬
ark, O. The bonds authorized are as above—$3,000,000 of each sort,
when the wi ole line is finished. The stock is $4,000,000—par $100.
Dan. P. Eel!e, president.

Ill., 340 miles;
Ind., opened in
1869, 53 miles; total Ohio & Mississippi line, 393 miles; the Springfield
Division, Beardstown to Shawneetown, Ill., 222 miles; total operated,
615 miles. The Eastern and Western divisions were sold in foreclosure
and the present Ohio & Mississippi Company consolidated November 21,
1867. On November 17,1876, the company was placed in the hands of
receivers, and afterwards Mr. John King, Jr., of the Baltimare & Ohio
Railroad, was appointed sole receiver. A suit is pending, brought to
annul the purchase of the Springfield Division in 1875 as fraudulent and
void. The various phases of litigation in regard to this company have
been reported from time to time in the Chronicle, and reference to the
pages indexed below is necessary to get any complete idea of the succes¬
sive steps. There are yet $97,000 of old first mortgage 7s, Western
Division, outstanding. Suit is also pending to foreclose Springfield
Division. Coupons of Oct. 1,1879, and April 1,1880, on second mort¬
gage bonds were paid April, 1880, the first since 1876. Operations and
earnings for five years past were as follows :
Years.
Miles.
Gross Earnings. Net Earnings.
623
$3,204,480
$863,51q
619
3,382,032
842,306
615
535,107
2,090,187
615
3,136,836
864,548
615
3,502,239
1,058,975
Eight months.
—(V. 28, p. 120, 146, 200, 253, 275, 328, 402, 428, 526, 554, 580, 649;
V. 29, p. 67, 226, 241, 278, 330, 408, 434, 483, 631, 680; V. 30, p. 43.
67, 92, 144, 219, 249, 298, 358.)
Old Colony (Mass.)—From Boston to Provincetown, Mass., 120 miles,
and lines to Kingston, Plymouth and Somerset Junction, Mass., and to
Newport, R. I.: total. 249 miles; numerous branches. 52 miles in all; total
length of all lines, 301 miles. The Cape Cod Railroad was merged in
Ohio <6 Mississippi.—Cincinnati, O., to East St. Louis,
Louisville branch, from North Vernon to Jeffersonville,

*

this October 1, 1872.
In December, 1878, a contract of lease was made
with the Boston Clinton Fitchburg & New Bedford for 999 years, the
Old Colony to operate that road and pay as rental 102* per cent of the

gross

earnings of both roads. The Wollaston disaster cost the company
The last annual report was in the Chronicle, V. 30, p. 15,

$348,453.

in which it was

stated: “The bonded debt of the company has been

$300,000 of bonds, bearing six per cent inter¬
premium. The bills payable have been reduced
by the payment of notes amounting to $203,640.” * * * “ We have
done a very large business with New York in connection with the boats
increased by the issue of
est, which were sold at a

of the Old Colony Steamboat Company. The rates have been much
reduced by competition, but the general results of the business are very

satisfactory.

While -the steamboat company in which this corporation

has a large interest has paid no dividends, its profits have been sufficient
to reduce its bonded debt by $56,500, to purchase an additional boat—
at a cost of $47,500, aud reserve a sufficient surplus for its Winter
expenses. It is in condition to resume dividends in January. The policy
of i he directors to decline all alliances, and conduct its business inde¬

pendently, has proved successful and will be continued. At a special
meeting of the stockholders held on January 31, 1^79, the lease of the
B. C. F. & N. B. RR. as negotiated by the directors was approved and
confirmed. By this lease the length of the lines operated by the company
has increased to 453-96 miles, the greatest number of miles operated by
any corporation in the Commonwealth.
It is too early to determine
exactly the benefits resulting from this lease. In the opinion of the
directors its benefits are greater than were anticipated. The terms of the
lease are fair, and were understood to be advantageous to both parties.
The leased line was doing a competing business, which could be con¬
ducted more economically and with advantage to the public by a union
of interests. The increase in business dates from the inception of the
lease. There lias been a regular monthly increase—in some months quite
large.” Operations and earnings for live years past were as follows:
Net
Div
Passenger Freight (ton) Gross
Years.
Miles. Mileage.
Earnings. Earnings, p. c
Mileage.
265* 61,295,520 18,371,231 $2,223,892 $870,148 7
269 59,025,834 17,896,779 2,122,518 645,990 6
290 50,628,616 21,387,713 2,174,884 720,711 6
301 58,845,895 18,446,307 2,077,616 703,278 6
2,828,487 1,799,152 ...»
—(V. 29, p. 537; Y. 30, p. 15.)
-

RAILROAD

44
Snbscribers will confer

a

explanation of column headings, Ac., see notes
on first page of tables.

Old Colony—(Continued)—
Bonds (not mortgage) coupon
Bonds
do
do
Bonds
do
do

Miles
of

Date
of
Road. Bonds

and registered

....

do
do

....

...

200
48

Oregon d California—1st mortgage

Oregon Central— 1st mortgage

....

mortgage
Oswego d iiome—1st mortgage guaranteed
Income mortgage bonds
Oswego d Syracuse—Stock, 9 per cent guar
Mortgage bonds

28^
....

35
35

mftrtraffi frmnr. T). Ti. At. W.)

Paducah d Elizabethtown—1st mortgage
2d

186
186
62

„

T.~

mortgage, income

Painesville d Youngstown—1st mortgage
2d mortgage
Panama—Stock

General moitgage, sterling,
Passaic d Delaware—StocK
Paterson d Hudson—Stock

BONDS.

[Vol. XXX.

1875
1876
18771870

or
Par

Value.

Amount

Outstanding

$1,000

$500,000

1,000
1,000

1,100,000
2,000,000
10,950,000

....

4,395,000

47
47
15
15

(£1,000,000)

1,669

Pennsylvania—Stock

355

1st mortgage
Gen. M., Ph. to Pitts., coup., J. A J.; reg., A. & O.
State lien (pay ’hie in annual inst’lm’ts of $460,000)
Consol. M., coup. J. & D., & reg. Q.—M. is. f. 1 p. c.)
Navy Yard bonds, reg
Car Trust bonds (sinking fund 10 per cent)

....

....

....

....

1865
1866
....

58 A 64
1876
1877

1,000
1,000
50
500 Ac.

1877

1,000
1,000
1,000

1867

100
£200

50

....

1,000

...

1870

1,000

....!

-

1973
1875
1877

«

1,000

Preferred stock

50
50

....

Judgment bonds (held by Pennsylvania RR.)

«...

Reg. bonds, secured by f. Ft.W. A C. special stock

300,000
350,000
200,000
1.320,400
124,000
338,000
216,000
1.200,000
993,000
250,000
7,000,000
3,877.808
(?)
630,000
68,870,200
4,970,000
19,999,760
4,091,675
28,901,540

1,000,000
'

Pennsylvania Co.—Common stock
1877
1877

Bonds—Princi¬

INTEREST OR DIVIDENDS.

Size,

2d

Crnisnl

AND

great favor by giving immediate notice of any error discovered in these Tables.

DESCRIPTION.

For

STOCKS

1,000
1,000

3,000,000
3,000,000
8,000,000
6,400,000
3,200,000

Rate per
Cent.

6
6
6

?*
7
7
7

4*2
7
7

8
7
7
4
7 g.

412
2%
6

When

Where

Payable, and by

Stocks—Last
Dividend.

Whom.

Payable

J. & D.
M. A S.
F. A A.
A. <x O.

pal,^When Due.

Boston, Office.

June 1,1895

do
do
Frankfort 0. M.

Sept.JL, 1896
Aug. l: 1897
April 1, 1890

-

July 15, 1891
M.
F.
F.
M.
M.
F.

Men. 1,

A
A
A
A
A
A

N. N.Y., Farmers’ L. AT.Co.
A.
do
do
A. N. Y., Del., L. A W. RR.
N.
do
’
do
S.
do
do

A, N.Y., Treasurer’s Office.
do
do

April.
Q.-J.

A. A O.

J. A J.
M. A N.
J. A J.

New York, Office.
London.

1906
May, 1915
Feb., 1891

Feb., 1880
1880 A 1885
1907
Feb. 1, 1897
Feb. 1, 1897
Nov. 1, 1902

May 1, 1880
1884, ’89 A’97

New York.

Jan., 1880.

Philadelphia, Office.

Nov. 29, 1879

do

do

Jan., 1880

6
5
6
6
6 g.

1910
Philadelphia A London.
A. A 0.
Philadelphia.
Annually.
Q.-M. Philadelphia A London. June 15.1905
J. A J.
1881
Philadelphia, Office.

3
6
6

A. A 0. Pittsburgh, Co.’s Office.

Q.-J.

....

Oct., 1873

Philadelphia.

Demand.

do

Q.-J.

July 5, 1907

Pennsylvania.—The lines owned by this company are from Philadel
phia to Columbia, Pa., 80 miles; Harrisburg to Pittsburg, Pa., 249 miles;
branches, 101 miles; total owned, 430 miles. Leased as a part of the
main line, Harrisburg & Lancaster Railroad, 54 miles; other leased
roads and branches, 1,232 miles; total owned and leased, 1,715 miles.
The operations of the Pennsylvania Railroad cover so large a field that
a reference to the annual reports is necessary to give any adequate idea
Oregon CcwYraJ.—-Portland to St. Joseph, Oregon, 49 miles. Opened of its working and condition from year to year. An abstract of the
November 3, 1872. The Oregon A California Railroad have obtained latest
report issued, that for 1879, was published in the Chronicle (V.
control of this line and propose to extend it to South Corvallis, 50 miles.
30, p. 244), showing surplus net income of $1,797,191 after paving all
In 1878 there was a net loss on operations. T. R. Cornelius, President,
charges and 41e per cent dividend. In 1879, on all lines east of Pittsburg
Portland, Oregon.
and Erie, the gross earnings were $2,983,544 over 1878 and net earnings
$624,978 over 1878. All the lines west of Pittsburg showed a surplus
Oswego d Rome.—Richland, N. Y., to Oswego, N. Y., 29 miles. Rond over all liabilities of
$1,526,817, being a gain of $1,082,836 over 1878.
opened January 1,1866. It is leased to the Rome Watertown & Ogdensof other companies owned by Penn¬
burg Railroad at 8 per cent on its stock and 7 per cent on guaranteed The total cost of stocks and bonds
sylvania Railroad was $65,481,682. A scheme to buy up the company’s
bonds.
guaranteed securities with $100,000 per month from earnings, aud issue
a 4 per cent scrip to stockholders for the cash so used, was adopted by
Oswego d Syracuse.—Oswego, N. Y., to Syracuse, N. Y., 35 miles
Leased in 1868 to the Delaware Lackawanna A Western Railroad Co. stockholders on March 26,1878, but not carried out till November, 1878,
for 9 per cent per year on stock and interest on bonds. In 1877-78 net when it was started at $50,000 per month.
The statement of the condition of the Trust Fund, created under the
earnings were $74,852, and payments by the lessees, $151,176, leaving
resolution of the stockholders in 1878, shows that the entire amonnt
them a deficit of $76,323.
paid by the company into the Trust up to the end of 1879 is $700,000.
Paducah d Elizabethtown—Elizabethtown to Paducah, Ky., 186 miles. There have been
purchased for the fund securities of the par value of
Formerly Elizabethtown & Paducah, and again the Louisville Paducah $773,100, which yield an interest of 7*4 per cent per annum upon the in¬
A Southwestern. The road and a branch to Louisville were foreclosed vestment. “ It
having come to the knowledge of your Board that offers had
August 24,1876. The Cecilian branch to Louisville, 45 miles, was sold been made
by other parties to the City of Philadelphia for the purchase of
again to the Louisville & Nashville Railroad. The common stock is the 59,149 shares of your stock held, by the Commissioners of the Sink¬
$1,426,500 and preferred $1,426,500.
An interest dividend of 4 per ing Fund, it was deemed wise for the protection of your interests, and
cent was paid on income bonds in April, 1880, out of earnings of 1879. to
keep this stock out of the hands of parties whose interests might be
Net earnings in 1879, $45,087. (V. 28, p. 402, 623.)
unfriendly thereto and to those of Philadelphia, to purchase the same at
Painsville £ Youngstown.—Fairport, Ohio, to Youngstown, Ohio, 62 par. The transaction was Closed upon that basis, and the stock, hav¬
miles. The company made default in its interest, and a receiver took ing been paid for, is now held in trust as an asset of your company.’*
The claims against the county of Allegheny, glowing out of the riots
possession February 14, 1877. Road was sold in foreclosure June 2, of
1877, have been compromised, and the sum of $1,600,000 has been
1879, for $192,000. The nominal stock was $2,500,000. Terms of reor¬
received in full settlement of the losses incurred by this company and
ganization not yet known. Paul Wick, President, Youngstown, Ohio.
the lines controlled

Oregon d California— Line of road—Portland, Or., to Roseburg, 199
This company succeeded to the Oregon A Central Railroad,
organized under act of Congress July ‘25,1866, and took that company’s
land grant. The company has been in default since 1873, and com¬
promised with its bondholders without foreclosure. In 1878 net earnings
were $237,665.
(V. 27, p. 358, 437.)
miles.

by it in the destruction of property at Pittsburg.

Opened through January
28,1855. This road had a practical monopoly of the California business
till the opening of the Pacific Railroads in 1869. Another serious blow
to its exclusive business was the establishment of the British steamship
line from England to the West Coast of South America, around Cape
Horn. The company, however, has paid large dividends. The report
for 1879 was in V. 30, p. 381, and the operations and income account
Panama— Aspinwall

for three years were as

to Panama, 48 miles.

follows:

1877.

1878.

22,110
146,942

Passengers earned
Freight (tons) moved

24,921

152,477

$

^

1879.

23,729
161,743

$
1,230,420
149,937
163,294

1,227,292
196,269
158,887

1,543,651

1,582,448

Disbursements—
Interest on debt

$
209,468

$

12,500
840,000
250,000

840,000
250,000

270,853
9,939
910,000
250,000

231,683

239,627

profit and loss account a further reduction in the estimated value of
doubtful securities, and, the report says, it is believed that they are now

worth, at a fair appraisement, the full amount at which they are charged
upon the books. It will be remembered that out of these assets the
amount required for construction purposes in 1879 was provided, and a

reference to the statements attached to the treasurer’s account will show
that the bonds and stocks owned by the company, including those
acquired during the year, represent a par value December 31,1879, of
$100,143,984, at a cost of $65,481,652, as compared with a value Dec.
31,1878, of $99,751,338 and a cost of $66,670,510.

$

239,889

Drawbacks

The claims of individual shippers and other corporations against the
county are being generally adjusted upon the same basis as that arrived
at with the company. The general accoimt of the treasurer is appended!
Many of the stocks and bonds owned by the company in consequence of
the general revival of business have largely appreciated in market
value. But, notwithstanding this, the Board have charged against the

210,957

Receipts—

Net

earnings

.

Rentals and interest
Other receipts

$
1,202,144
254,392
195,213

GENERAL INCOME ACCOUNT FOR THE YEARS

Total income

Dividends..

on

.

produce
:

Subsidy to U. S. Colombia
Balance, surplus.
-(V. 28, p. 376, 402, 580, 381.)

12,932

1,651,749

Paterson d Hudson.—Jersey
The road was opened in 1834,

1879.

City, N. J., to Paterson, N. J., 15 miles.

1852, to the New York & Erie, at a rental of $53,400 per year.

J. S.

1878.

Expenses

11,751,620

10,921,103

line & br’ches.
equipment, Ac

$9,992,007
2,513,198

$9,396,036
2,120,867

bond’d debt, Ac.,rent’ls & leases

$12,505,205
5,022,725

$11,516,904
5,192,439

$7,482,480

$6,324,464

Net earn’gs from operat’g main
Add interest from investments,

Net

on

income, Pennsylvania RR. Division

United New Jersey Railroad d Canal Co., including Belvidere Delaware
Railroad and Flemington Branch.

Earnings.
Expenses

$9,784,843
6,500,861

Net earnings from operating
Interest received in cash from investments..

Rogers, President, New York City.

$8,398,534
5,502,941

' $3,283,981

$2,895,592
296,520

211,239

Total net earnings
$3,495,221
Pennsylvania Company.—The Pennsylvania Company is a corporation Payments on account of dividend, inter’st,Ac.
4,435,110
chartered by the Pennsylvania Legislature, April 7,1870, distinct from
the Pennsylvania Railroad, and operates all the leased lines west of Net loss to Penn
RR., lessee
$939,889
Pittsburg. The stock is owned by the Pennsylvania Railroad. The
whole number of miles operated or in any way controlled by this com¬
Philadelphia d Erie Railt oad.
pany is 3,547. In 1879 the net income over rentals, interest, Ac., was Earnings
$3,091,807
$1,571,990 and advances to railroads charged off $219,335, leaving Expenses
2,130,258
$1,352,655 profit. An abstract of the company’s report for 1879 was
published in the Chronicle. April 24,1880, giving a full exhibit of the Net earnings from operating
$961,549
transactions in that year, the balance sheet, Ac. The registered bonds Interest for use of equipment, Ac.
163,049
are secured by deposit of $4,000,000 of Pittsburg Fort Wayne A Chicago
Net earnings applicable to pay interest
special stock. (V. 28, p. 580; Y. 29, p. 118.)
$798,500




-

$20,317,139

Total

and leased in perpetuity September 9,

1878.

AND

$21,743,628

Deduct int.

Samuel Sloan, President, New

1879

Branches—Pittsburg to Philadelphia.

Earnings

-

Passaic d Delaware.—Summit, N. J., to Bernardsville, N. J., 15 miles.
The New Jersey West Line Railroad was sold in foreclosure and this
company organized October, 1878, by parties identified with the Moms
A Essex lessees (Delaware Lackawanna & Western), by whom it is

operated. Nominal stock, $1,000,000.
York City.

Main Line and

..

$3,192,112
4,328,887

$1,136,775
$2,921,060
2,044,948
$876,111
191,604
$684,507

„

t

RAILROAD

April, 1880.]

Subscribers will confer a great favor by
DESCRIPTION.
For

explanation of column headings, Ac., see notes
on first page of tables.

STOCKS

1866
1866

Amount

Outstanding

Peterborough (N. JET.)—Stock
Bonds (not mort.), redeemable after 1882
Petersburg—Stock
1st mort. bonds (payable $25,000 yearly)
2d mortgage
Philadelphia <6 Balt. Central—1st mort. (Pa)
2d mortgage (Pa.)
1st mortgage (Md.)
.
Philadelphia <£ Erie—Stock, common

$1,000
1,000

100

....

1853

181

....

-

....

1880
1880
1864
1870
1867
1873

....

....

83
83
38
38
11

....

1,000
1,000

500 Ac.

1,000
100

1,000

100
500 Ac.
100

....

1877

....

82
82
82
36
36
10

....

5781
....

....

....

....

100 Ac.
100 Ac.
100 Ac.
50
50

1859
1869
1866

287

....

Preferred stock

1st mort., SunburyA E. (extended 20 years
1st mortgage ($3,000,000 are sterling)
2d mortgage

in ’77),

Consol. M., gold (for

$20,000,000), guar by Pa. R,
Philadelphia Germantown & Norristown—Stock.
I.
Philadelphia Newtown <£• New York—Stock
Bonds, guar, by Pliila. A Read
Philadelphia <£ Reading—Stock, common
...

1857
1861
1868
1869

287
287
287

29

1,000
1,000
1,000

1,000
50
50

....

convertible

Deduct amount paid Philadelphia
Railroad Co. as rental

A Erie

....

....

....

....

....

....

779
779

Mortgage loans inconvertible

....

....

Preferred stock

Loan mortgage,

40

1843-9

....

1879.
$798,500

Jun6 1

J. A J. N. Y., Met. Nat. Bank.

Jan. 1, 1920
Jan. 1, 1920

Stocks—Last
Dividend.

1896
June, 1906
Feb., 1880

Aug. 1, 1893

....

6 g.
6
7
7

do

do

J. A

6

J. N. Y., Imp. A Trad. B’k.
A. A O.
do
do
A. A O.
Pliila., 227 S. 4th st.
J. A D.
do
do

July 1, 1894

Nashua, Treasurer.'
A. A 0. Boston, N. E. Trust Co.

May, 1878
Oct. 1, 1897

Oct. 1, 1900
Apr. 1, 1887

'

6 g.
3
6
3

8
8
7
7
6

800.000

400,000
300,000
6,053,700
2,400,000
976,000
5,000,000
3,000,000
8,680,000
2.231,900
1,200,000

When

pal,When Due.

T. A D. Pliila., B’k N. America.
J. A D.
do
do
F. A A. N. Y., Chic.,R. I. A Pac.
F. A A.
do
do

Juno 1,

May.

J.
T.

A J.
A J.
■

J.
J.
J.

J

m

m

Jan., 1872
1879-’98

N.Y.,R.A.Lanca8terACo Jan

ts>

A J.
A J.
A J.

1913

do

do

1902

Philadelphia, Office.
do
do

,

Jan., 1879
Jan., 1900

do
do

Oct., 1891

....

Philadelphia, Pa- RR,

7

6 A 6 g.
7
6 g.
3
....

700.000

6

1,510,500
79,000

1879.

Bonds—Princi¬

7
7
4
8

1,500,000
1,200,000
300,000
3,500,000
1,287,000
858,000
1,000,000
1,000,000
799,600
1,125.000
385,000
159,500
1,324,200
500,000
300,000

1,000
1,000

1878.

SUMMARY.

discovered in tbese Tables*

Where Payable, and by
Whom.
Payable

32,726.375
1,551,800

$684,507

any error

Rate per
Cent.

$1,500,000

50
50

1857

45

INTEREST OR DIVIDENDS.

Miles Date Size, or
of
of
Par
Road. Bonds Value.

87781
Peoria Decatur & Evansville—Stock
1st mortgage, gold, coupon
Income bonds, not accumulative
Peoria Pekin <£• Jackson ville— 1st mortgage
2d mortgage
Perkiomen—1st mortgage.,
.
Consol, mort., gold, guar. P. A R., (sink, fund) —

BONDS.

giving immediate notice of

105
105
46
47

Pennsylvania <£• New York—1st mort., guar
1st mortgage, guaranteed
Peoria <& Bureau Valley—Stock
1st mortgage bonds

AND

A
A
A
A

do
do
O.
O. Philadelphia A London.
J. Philadelphia, Pa. RR.
J. Philadelphia A London.

Oct.
Mar.

1, 1897

31, 1881

July 1, 1888
July, 1920

Q.-M. Phila., Treasurer of Co.

Mar. 3,

1880

...

....

2*a
3%
6
6

A.
A.
J.
J.

Q.-J.
Q.-J.

J. A J.
J. A J.

Jan. 25,1876

Philadelphia, Office.
do
do

do’

do
do
do

July 25,1876
July, 1880
July, 1886

•

Operations and earnings for five years past, on main line and branch es

were as

follows:

Passenger
Mileage.

Freight (ton)

Gross

Net

Mileage.
Earnings. Earnings.
$7,482,480
160,421,998 1,479,414,466 $20,493,638 $8,699,585
above
288,312,089 1,629,742,021 20,788,076 8,335,387
939,889
1,055
143,153,521 1,494,798,198
18,983,456 8,232,317
Balance after deducting loss in operating New Jersey Div.. $6,542,591
1,055 142,036,106 1,732,003,131
20,317,140 9,396,037
Deduct advances made to companies east of Pitts¬
1,092
155,784,178 2,136,708,000 21,743,628 9,992,007
burg, Pa.
$802,780
—(Y. 28, p. 97, 224, 249, 328, 428, 526, 649; V. 29, p. 96, 146,162,197
Payments to trust fund
600,000
226, 253,330, 435, 564, 602, 680; Y. 30, p. 67, 117, 222, 244, 249, 274,
Payments to consolidated mortgage sinking fund . 243,460— 1,646,240 298, 323.)
Pennsylvania & New York (Canal and Railway).—Wilkesbarre, Pa., to
Showing balance to credit of income account after deduct¬
New York State Line, 104 miles. Branches to mines, 23 miles. Operated
ing therefrom all payments made during 1879 for which
in connection with the Lehigh Valley Railroad. Common stock, $1,061,the company was responsible, and that should be charged
against income account
$4,896,350 700, and preferred stock, $4,000,000. Net earnings in 1878-9, $599,791.
Out of which were paid dividends of 4*2 per cent
3,099,159 Robert H. Sayre, President, Bethlehem Pa. (V. 30, p. 220.)
Net income Pennsylvania RR. and branches, as
Net loss New Jersey Division, as above. ^

Years.
1875
1876...

Miles.
904
963

'

Leaving amount to be transferred to credit of profit and loss

$1,797,191
4,057,815

account for 1879
Add amount to credit of profit and loss, Dec. 31,1878.,

$5,855,007

Add amount realized from old accounts.

122,840

$5,977,847

Less amount of Pennsylvania Railroad’s consoli¬
dated mortgage bonds, redeemed during 1878...$100,000
Less amount paid in 1878 to the fund for the pur¬
chase of securities guaranteed by Pennsylvania

Railroad Cp., under trust created

Oct. 9,1878... 100,000—

200,000

$5,777,847

Balance
From which balance there has been deducted reduction in
value of securities, etc

Peoria & Bureau Valley.—Bureau Junction to Peoria, Ill., 47 miles.
The road was leased in perpetuity April 14, 1854, to the Chicago A Rock
Island Railroad at a rental of $125,000 per annum. Officers same as
Rock Island.
~
Peoria Decatur <& Evansville.—This road is a consolidation of the
Pekin Lincoln A Decatur Railroad (formerly leased to the Wabash) and
the Decatur Mattoon A Southern and the Grayville A Mattoon, from
Peoria to Parkersburg, Ill., a distance of 181 miles. The old mortgage
on the Pekin Lincoln A Decatur road was $16,000 per mile, but under
the new consolidation has been reduced to $12,000 per mile. (V. 29, p.
658; V. 30, p. 92, 222, 375.)
Peoria Pekin <& Jacksonville.—Peoria, Ill., to Jacksonville, Ill., 83 miles.
The stock is $1,000,000 common and $239,700 preferred. The road was
sold in foreclosure November 14,1879, for $950,000 to Solon Humphreys
of New York, reported to be for the Wabash St. Louis A Pacific. Gross

earnings in 1877-78 were $227,501; net, $29,194. (V. 28, p. 554; V. 29,
68, 226, 302, 539.)
Perkiomen.—Perkiomen Junction, Pa., to Emans Junction, 39 miles.
Balance to credit of profit and loss Dec. 31,1879
$4,181,073 The road was leased for nineteen years from August 1,1868, to Phila¬
delphia A Reading Railroad, and bonds guaranteed by the lessees; but
LINES WEST OF PITTSBURG.
the property was surrendered and all control given up in May, 1879.
The following statement gives the result of the lines owned or con¬ One-half the interest on the consolidated mortgage has been paid for
trolled by the company west of Pittsburg and operated by the Pennsyl¬ three years in Philadelphia & Reading scrip, according to the Philadel¬
vania Company :
phia A Reading compromise. (V. 30, p. 64.)
1879.
1878
Peterborough.—Wilton to Greenfield, N. H., 11 miles. Completed Jan.
The total earnings of the Pennsylvania Co. on
1,1874. and leased by Nashua A Lowell Railroad for 20 years from
lines operated by it, and through organiza¬
1873 at 6 per cent on cost of the road. In 1879 lessees withheld rental
tions worked under its control, were
$25,742,296 $23,790,228 and dividend was not paid. James Scott, President, Peterborough, N. H.
15,184,805
Expenses for the same period were
15,305,533
Petersburg.—Petersburg, Va., to Weldon, N. C., 64 miles. In May, 1877,
$8,605,423 a receiver was appointed and foreclosure proceedings are pending. In
Leaving net earnings
$10,436,762
1877-8 net earnings were $26,518.
(V. 30, p. 249.)
From this deduct:
Rentals, interest, dividends and liabilities of
Philadelphia dk Baltimore Central.—Westchester Junction to Octoraro,
all kinds chargeable thereto, including the
Md., 46miles; leased Chester Creek Railroad, 7 miles, and Columbia A
P. Deposit Railroad, 4 miles; total operated, 57 miles. After Jane
net earnings of the Columbus Chicago A
Indiana Central Railway, paid over to the
23,1870, the road in Pennsylvania went into possession of the trustees
1,596,773

p.

for the bondholders. No foreclosure has taken place. The common stock
is $220,606 and preferred $242,950. Net earnings in 1877-8, $86,849;
in 1876-7, $96,195; in 1875-6, $124,701.

receiver under order of the court, and other
liabilities of the Pennsylvania Co., includ¬

ing $402,616 interest on the bonds held by
the Pennsylvania Railroad Co

7,621,234

8,612,674

Philadelphia & Erie.—Sunbury to Erie, 287 miles.

Formerly Ban¬

bury & Erie Railroad. It was leased to Pennsylvania Railroad for 999
years from January 1, 1862, the lessees to pay 30 per cent of gross
receipts as rental, but modified January 1, 1870, so that actual net
SUMMARY OF LINES DIRECTLY OPERATED EAST AND WEST OF PITTSBURG,
receipts are paid as rental. The consolidated mortgage is guaranteed by
1879.
1878.
the Pennsylvania Railroad. The unpaid coupons of $1,508,459 are held
Gross earnings, all lines, from traffic
$60,362,575
$55,426,962 by the lessee for advances. Last annual report was in V. 30, p. 190.
Gross expenses, excluding rentals, interest,
Operations and earnings for five years past were as follows:
dividends, Ac
35,639,794
33,611,034
Passenger
Freight (ton)
Gross
Net
Years.
Miles.
Mileage.
Mileage.
Earnings. Earnings.
$24,722,780
$21,815,928
Showing net earnings
287
15,117,810
311,919,109 $3,365,897 $954,616
Freight Traffic.
1876
287
22,425,613
340,390,703
3,352,979 1,164,533
1878-1879
1877
287
335,727,141
3,172,993 1,123,366
12,466,005
Number of
Number of
Number of
Number of
381,300,202
2,921,060
876,111
287
11,444,005
tons,
tons one mile.
tons.
tons one mile. 1879
2S7
11,562,653
505,918,017
3,091,807
961,549
East of Pittsburg
—(V. 28, p. 252; V. 30, p. 190.)
and Erie
24,970,672 3,061,478,249 19,121,977 2,431,807,656
Philadelphia Germantown <6 Norristown.—Philadelphia, Pa., to Norris¬
West of Pittsburg 20,166,334 2,272,716,185 16,871,837 1,814,100,152
town, Pa., 17 miles; Germantown Branch, 3 miles; Plymouth Railroad,
9 miles; total, 29 miles. The property was leased Nov. 10, 1870, to
Totals
45,137,006 5,334,194,434 35,993,814 4,245,907,808
Philadelphia A Reading Railroad for 999 years at a rental of $269,623
Passenger Traffic.
and $8,000 yearly for organization expenses. Dividends of 12 per cent
Net profit on all lines west of Pittsburg

>

$984,188

$1,824,088

..

>

i

-1879
Number of
Number of
passengers
one mile.
passengers

1878-

Number of

Number of
passengers.

East of Pittsburg
and Erie
13,602,401
West of Pittsburg 8,261,565

314,260,989

269,515,697

12,792,305
8,041,674

21,863,966

583,776,686

20,833,979

Totals




passengers
one

mile.

per annum are

regularly paid.

Philadelphia Newtown <& New York.—From Newtown Junction to
Newtown, Pa., 22 miles. Capital stock. $1,200,000. On November 10,
1879, the Philadelphia & Reading Ra.lxoad purchased 12,012 shares,

292,725,524 giving control of the property,
CHRONICLE, V. 29, p. 512.;
247,275,166

and guaranteed the bonds

(See

Philadelphia <t Reading.—Main line, Philadelphia to Mount Carbon,
540,000,690 Pa., 98 miles; branch lines owne^, 229* mta; leased linea, 495

RAILROAD

46

Subscribers will confer a great

Date Size, or
of
of
Par
Road. Bonds Value.

Philadelphia & Reading—(Continued )—
X«oan mortgage, sterling

Amount

Outstanding

11874-5.
6778
„

do
do

779
779
779

(Extended in 1877.)..

779
779
779

5

Consolidated mort., dollar loan, coupon or reg
do
do
gold, $ or £, coup
dollar loan, gold, coup, or reg
do
do
Debenture loan (convertible 1876-92), coup
Improvem’t mort., $ or £, sink’g fund, coup
Gen. mort., $ and £ (sink, fund 1 p. c. yearly)

779

745
750

£100
1836
£500
1843
1867
$1,000
ioo &c.
1868
1868
1,000
1871
1,000
1871
1,000
1871
1,000
1873
1,000
1873
1,000
1874
1,000
1876
1,000
10 &c.
1877
90 &c.
1877
1878
1872-4
1,000
1872

71874-569. 81
Income mortgage (for $10,000,000)
Debenture and guar, bonds, 6 per cent cur’cy scrip
Gen. mort. and Perkiomen 6 per cent ster’g scrip
Bonds for Berks Co. Railroad
Coal & Iron Co., guar. mort. (for $30,000,000). ..
do
debentures, guaranteed
Philadelphia dk Trenton—Stock

Philadelphia Wilmington dk Baltimore—Stock
1st mortgage, convertible
Plain bonds, loan

•

m

•

• •

^ — m

26
112
95

.

do
do
do
do
Pxtts. C. dk St. L.—1st m., cons, (for $10,000,000)
2d mortgage
1st mortgage, Steubenville & Ind., reorganized...
Col. & Newark Division bonds
Pittsb. dk Connell8ville.—1st mortgage
1st
do
Turtle Creek division
Consol, mort., guar. B. <fe O. (s.f. £7,200 pr. yr.)..

200
200
117
33
149
10

149

which holders of the general mortgage bonds and Perkiomen guaranteed

tended 30 years on payment of 10 per cent premium, or otherwise paid
off. The last annual report, published in the Chronicle, V. 30, p. 64,
rives a full statement of the condition of the company at the close of
the last fiscal year, November 30,1879, together with the estimate of
the managers as to the company’s prospects for the ensuing year, sub¬
stantially as follows:
ESTIMATE FOR 1880.
The following table shows a comparison between the actual results
of 1879 and the managers’ estimates for 1880. In the table for 1879
the total receipts, expenses and rentals of the North Pennsylvania RailToad and the Delaware & Bound Brook Railroad for an entire year are

Included, in order to facilitate comparison with 1880:

1879.

.

.

Passenger transportation
Miscellaneous receipts
For ship, coal at Pt. Richmond and Eliza’port
ti
.

$7,291,989
' 4^156^055
4,156,055

2,233,656

Bonds—Princi¬

Payable

5 g.
6
7
6

967,200
134,400
1,135,300
2,700,000

7
7
6 g.
6 g.

6,999,000
968,000

7

10,499,900

9,364,000
19,686,000
2,331,000
3,472,973
1,832,760
586,000
13,036,500
1,731,000
1,259,100
11,572,750
253,500
1,000,000
700,000

Where Payable, and by
Whom.

When

Cent.

10,649,000

1858
1867
1,000
1872-4
1,000
L000
1875
1868
1,000
1873
1,000
1864
1,000
1864
1,000
1868
1,000
1859
100 &c.
1876
£200

bonds receive one-half their coupons for three years in five-year 6 per
eent scrip; and holders of convertible and debenture bonds take 6 per
<*ent scrip in payment of their coupons for five years. The scrip is convert¬
ible into income mortgage bonds. The bonds due in 1880 will be ex¬

Rate per

$182,400

■

100
50
500

miles; other lines controlled, 56 miles; total operated, 878 lines. In
May, 1879, this company leased for 990 years the North Pennsylvania
Railroad and Delaware <k Bound Brook Railroad, and at same time gave
up the Perkiomen Railroad.
(See terms of lease under names of those
«ompanies.) The main business of this company has been the transport¬
ation of anthracite coal.
The Philadelphia & Reading Coal & Iron
■Company is a corporation formed (Dec. 12,1871) for the purpose of own¬
ing and working the extensive coal properties of this company. The
Philadelphia & Reading RR. Company owns all the stock of the Coal & Iron
Company, and the trustees of the general mortgage of 1874 hold the bonds
of the Coal & Iron Company. Between 1870 and 1876 this corporation
increased heavily its capital account in the purchase of new properties,
and after paying 10 per cent dividends for many years ceased to pay
after January, 1876. The company was unable to meet all its obliga¬
tions, and in March, 1877, propositions were made and accepted, by

Coal transportation
Merchandise transportation

[VoL.XXX.

INTEREST OR DIVIDENDS.

Miles

explanation of column headings, &e., see notes
on tirst page of tables.

do
do
do
do
Loan debenture.
Loan mortgage

BONDS.

favor by giving Immediate notice of any error discovered In these Tables.

DESCRIPTION.
For

STOCKS AND

6
6 g7
6
6 g.

J.
J.
J.
J.
A.
J.

J.
J.
J.
J.
O.
& D.

6
6
7
7
6
7
7
6
6 g.

3,000,000
456,000

4,000,000
326,600
6,500,000

July, 1880

July 1, 1882
July 1, 1893

Philadelphia, Office.
do
do

Oct.

U 1893
June, 1911

do
do

J, & D. Philadelphia & London.

June, 1911

J. & D. Philadelphia, Office.
J. & J.
Philadelphia, Office.
A. & O. Philadelphia or London
J. & J. London & Philadelphia.
J. & D.
Philadelphia, Office.
J. & J.
do
do
J. & J. London & Philadelphia.

2ifl
4
6
6

2,500,000

July, 1880

do
do

Philadelphia, Office.

Juno, 1911
1, 1893
1, 1897
July 1, 1908
Dec. 1, 1896
July, 1882
July, 1882
May 1, 1898

Philadelphia, Office.

April 10.1880

Jan.
Oct.

1892 to ’94
1892

Various London & Philadelphia.
M. & S.
Philadelphia, Office.

7
7

6,541,000

Stocks—Last
Dividend.

London.

&
&
&
&
&

3, 4 ,5, 6 M.& N.

800;000

pal,When Due.

Q.-J.
J.
J.
A.
A.
A.
F.
A.

&
&
&
&

J.
J.
O.
O.
& 0.
<fc A.
& O.

M’nthly
J.
J.
F.
J.

&
&
&
&

Philadelphia & Boston. Jan. 2, 1880
do
do

do
do

Phil’delphia, Co.’s Office
do

do

Phila., Pa. RR. Office.
do
do
N. Y. Agent, 57 B’way.

J. Phila., JPa. RR. Office.
J. Balt., Balt. & Ohio RR.
A. Pittsb., First Nat. Bank
J. London. J.S.Morgan&Co

July, 1884
April, 1887
Oct. 1. 1892
April 1, 1900
Aug. 1, 1900
April 1, 1913
May. 1884
Jan., 1890
July, 1898
Aug. 1. 1882
Jan. 1. 1926

—(V. 28, p. 66,113,328,428, 527, 580, 625; V. 29, p. 18,121, 226, 330,
408, 435, 460, 512, 553; V. 30, p. 64, 118, 222, 314.)

Philadelphia dk Trenton.—Philadelphia, Pa., to Morrisville, Pa., 27
of
of

miles. On Dec. 1, 1871, it was leased with the United Companies
New Jersey to the Pennsylvania Railroad, and is operated as a part
its New York division. Regular dividends of 10 per cent are paid.

Philadelphia Wilmington dk Baltimore.—Philadelphia, Pa., to Balti¬
Md., 96 miles; Port Deposit Branch, 4 miles; Southern Division to
Rodney & Newcastle, Del., 12 miles; total, main line and branches, 112
miles; Delaware Railroad (leased), 95 miles; total operated, 207 miles.
This road, on the main line to Philadelphia and Washington, has paid 8
per cent dividend for many years, with a considerable surplus. For the
terms of Delaware lease, see Delaware Railroad. Operations and earn¬
ings for five years past were as follows:
Net
Div’d
'eignt
uross
Passenger Freight (ton)
Gross
Years.
Miles.
Mileage.
Mileage.
Earnings. Earnings. p. ct.
100
8
65,634,440 34
4,260,688 $2,849,554 $1,181,339
1875-6... 100 104,810,706 38,094,439
8
3,305,438
1,576,044
1876-7... 111
8
59,160,438 42,089,750
2,916,250
1,161,216
8
3877-8... 112
1,095,103
60,504,494 46,080,501
2,660,446
1878-9... 112
8
2,849,919
1,284,346
-(V. 28, p. 67.)
more,

Pittsburg dk Connellsville.—Pittsburg, Pa., to Cumberland, Md., 150
,iioa.
miles; Jiron/»h o miiofl. leased lines, 22 miles; total, 174 miles. On
branch, 2 miles;
December 13 1875, the property was leased to the Baltimore <fe Ohio
Railroad, and possession given Je
anuary 1,1876. The rental is interest
on the debt and £7-200 sterling as an annual sinking fund.
a
The city of
Baltimore transfen

d its interest to the Baltimore & Ohio Railroad for

$1,000,000, and the consolidated sterling mortgage was made and guar¬
anteed by the Baltimore & Ohio. It is operated as the Pittsburg Division
1880.
of the Baltimore d Ohio Railroad. In Februaiy, 1880, a judgment in
$12,150,000 fa v or of Baltimore A Ohio
Company was confessed for $4,354,748. (Y. 29..
5,000,000
30, p. 19.)
2,500,000 p,

150,000
Pitxsburg Cincinnati dk St. Louis.—From Pittsburg, Pa., to Columbus,
400,000 O., 193 miles; branch to Cadiz, O., 8 miles; total, 201 miles. This was a
consolidation of several companies, May 1,1868, including the Steuben¬
Total
.$13,799,963
....$13,799,963 $20,200,000 ville & Indiana and the Pan Handle roads. This company is controlled
All expenses, except interest on debt
9,810,351
11,500,000 by the Pennsylvania Company, through the ownership of a majority of
its stock. This company also holds leases of the Little Miami ana its
Total
$3,989,612
$8,700,000 dependencies and of the Columbus Chicago & Indiana Central road,
which are operated by the Pennsylvania Company, and their earnings
L088.
Profit.
Coal & Iron Company
699,450
2,500,000 separately stated. Common stock, $2,508,000; first preferred, $2,929,200; second preferred, $3,000,000. Gross earnings in 1879 of road
$3,290162 $11,200,000 proper, $3,603,123; net, $1,613,585; surplus over interest, &c.,
Interest account, including full sinking funds
$605,480. Loss on leased lines, <fce., $193,480; net profit, $412,000.
for 1879 on all sinking-fund debts
7,000,000 Operations and earnings for five years past were as follows:
Net
Freight (ton
Gross
Passenger
Net profits
$$4,200,000 Years.
Miles.
Mileage.
Mileage.
Earnings.
Earnings.
Of this estimate the report says: “ No account is taken in the above of
201
29,524,628
207,521,453 $3,185,248
$743,240
201
profits on steam colliers and barges, or of loss on canals, as the former
42,253,185
895,837
249,969,882
3,283,683
201
may be expected to cover the latter. With such an earning power prop¬
1,085,280
28,622,519
236,678,518
3,108,193
201
erly established and demonstrated, the company will be able to command
1,186,764
28,804,112
287,757,418
3,176,371
201
money upon the most reasonable terms, and to extricate itself from all
31,535,558
367,377,011
3,606,124
1,613,585
financial difficulty by funding into some proper, permanent
security all
Comparative statistics for four years were as follows:

118,263

.

.

of such indebtedness

as

must be removed before cash dividends

are

INCOME

resumed.

Assuming that the option to take the $5,000,000 of general
mortgage bonds w ill be exercised during the next few months, there will
then remain the following indebtedness which must be paid
or funded
before cash dividends

are

made:

Floating debt, say
Income mortgage bonds
Coupon scrip
m

$4,500,000

IIIIIII

Total

2 218 000

5,305,733

$12,023,733

To pay this out of net earnings would require from two to three
years
of prosperous times, and the shareholders would then be entitled to a
distribution of share capital to represent the

earnings devoted to the
payment of indebtedness, first deducting therefrom the present debt
If, however, the improved
£redAnonot, company enables the managers to pay off the entire
$l2’023,/33 out ot the proceeds of any new security, the issue of which
would not increase the fixed charges of the
company, they would con¬
sider it their duty to do so, first giving to each shareholder the
option of
taking hisproriita portion of such new issue, and, in the event of the
success of such a scheme (which
may be considered highly probable),
reasonable cash dividends could be resumed.”
Operations and earnings
for five years past were as follows :
Passenger
Gross
Freight (ton)
Net
Years.
Miles.
Mileage.
Mileage.*
Earnings.
Earnings.
balance of profit and loss of $2,104,862.

799
799
799

799

*

76,556,003
123,871,237
75,110,715

Including coal.




74,315,237

1877.

1878:

$

""Receipts—

$
1,075,049

$
1,186,763

Net earnings
Bills payable issued..
Rentals and interest.
Net from leased roads
All other accounts

836,827
869,910
19,161
380,231
331,254

Total income
Disbursements—
Rentals paid
Interest on debt
Other
Miscellan’s accounts.
Advances C. & M.Val.
To C.C.& I.C. acc’t, 75
Loss on St.L.V.& T.H.

...

1879.

$

1,599,562

10,230

24,854

500,072
1 6,642,163

449,688
J 461,839

2,437,383

8,227,514

2,123,144

$
810,477
669,790
64,053
214,462
112,384
491,589
56,468

$
820,123
669,790
75,848

$
828,127
669,790
132,944

116,496,956

283,390

105,000

105,000

105,000

46^375

14,022
711,466
2,325,050
$
821,299
833,625
136,980

18,160

13,422

65,20(1
38.693

16,144
412,002

2,437,383

Balance, surplus
Total

ACCOUNT.*

1876.

8,227,514

2,123,144

2,325,050

«

*

Exclusive of Col. Chic. & Ind. Cent.
t Includes—Sale of preferred stock St. Louis Vandalia & Terre Haute,

555,128,028 $12,660,927 $1,530,768 $200,000; sale Union Depot bonds,' $186,000; amount of certain liabili¬
556,121,169
12,227,510 3,717,161' ties canceled and surrendered by Pennsylvania Co., $5,866,721.
711,526,398
12,142,910 4,391,217
X Includes $180,400 bills payable of this company, canceled and sur¬
610,492,192
11,539,593 4,220,227 rendered by Pennsylvania Co.
|| Includes—Reduction of second mortgage bonds, $2,500,000; reduc¬
13,106,352 4,119,011
tion of bills

payable, $3,509,221.

RAILROAD

April, 1880.]

Subscribers will confer a great favor
DESCRIPTION.

Pittsburg Ft. Wayne A Chicago—Stock, guar.
1st mortgage
do
1st
do
1st
do
1st
do
1st
do
1st
do
2d
do
2d
do
2d
do
2d
2d
do
2d
do
do
3d

(series A)..
B
C
D
E
F
G
H
I
K

do

do
do
do
do
do
do
do
do
do
do

..

..

.

Bonds

all

cou-

...

Son, but paya-'
made may

...

e

ble to order.

...

..

..

L..
M
..

Pittsburg, Ft. Wayne & Chic, construction bonds.
Equipment bonds (renewed)
Pittsburg A Lake Erie— Stock
?
1st mortgage, gold, coupon
Pittsb. Titusville A Huff.—1st mort. (W. & F.RR.)..,.
1st mortgage (Oil Creek RR.)
1st mortgage (Un. & Titusville RR.)
2d mortgage (Pitts. T. & B.)

18796.

Funding income bonds (P. T. & B.)

Buff. Chic. & Pitts., 1st mortgage
PiUsb. Ya. A Charleston^-lst mortgage,

Pomeroy A State Line—Stock
Port Jervis A Monticello—Stock
Port lloyal A Augusta—1st mortgage
Income mortgage bonds, coup 7.
Portland A Ogaensb.—1st mort., E. D., gold
New mortgage (for $3,300,000)
1st mortgage, Vermont Div., gold
Portl. A Rochester—1st mort., s. f. (Portl. loan) “A”.
1st
2d

468
468
468
468
468
468
468
468
468
468
468
468
468
468
468

mortgage, equal lien
do
(Portland loan) sinking fund, “B”.

m

m

m

m

1862
1862
1862
1862
1862
1862
1862
1863
1862
1862
1857

1874
70
70
50
38
25
120
120
30
21
23
112
■

.

90

1877.

29,820,756 23,056,586
$
2,508,000
2,508,000

Stock, common
Stock, preferred

5,928,600
Bds. (see Supplem’t). 15,008,061
Bills payable.
3,509,223
1,447,138
All other dues & acc’ts
902,479
Due Little Miami....
Due C. C. & I. C
184,601
262,500
Cin. Street Conn. bds.
70,154
Miscellaneous

•

•

•

When

Cent.

Payable

1876
1876
-

•

•

•

•

100,000
1,000,000
2,000,000
2,000,000
1,500,000
580,000
500,000

<fcc.
&o.
&c.
&c.

1,155,000
315,933
250,000
1,583,000
500,000
724,276
250,000

1,000
50
-

,

1878
1878
1870

-

+

100 &c.
100 &c.
ra.

^

1,500,000
794,000

®

1871
100 &c.
1871
80
52^3 1867-9 500 &c.
5213 1870 500 &c.
500 &c.
5213 1871

1878.

1879.

23,297,655

23,062,567

2,508,000
5,929,200

2,508,000
5,929,200
12,497,000

12,497,000

721,954
889,060
184,601
262,500
53,210

956,898
888,808
184,601
262,500
70,648

1,855,000
2,300,000
700,000
350,000
450,000

Q—J.

1*

•

•

•

Where Payable, and by
Whom.
N. Y.,

Q.-J.

7
7
7
7
7
7
7
7
7
7
7
7
7
7
8

2,000,000

1,000
1,000
1,000
500
100
100
500

1*

875,000
875,000
875,000
875,000
860,000
860,000
860,000
860,000
860,000
860,000

50

•

1878
1865
1862
1870

5,929,200
12,508,061

*

Rate per

6,329,300
875,000
875,000

1,000
1,000

.

Total assets

Outstanding

100
500 &c.
500 Ac.
500 &o.
500 &c.
500 &c.
500 &c.
500 &c.
500 &c.
500 &c.
500 &c.
500 &c.
500 &c.
500 &c.

$
$
Assets—
Railroad, equipm’t,&c 19,947,755 19,942,295 19,942,295 19,942,295
*
58,398
57,298
257,2w8
85,498
Stocks owned, cost...
*
317,855
317,855
485,655
317,855
Bonds owned, cost...
660,293
651,671
644,952
854,932
Betterm’ts to l’sed r’ds
1,202,433
1,158,840
1,361,789
1,494,920
Bills& acc’ts rec’vable
t 541,607
1 454,013
t 517,928
310,479
Materials, fuel, &c...
237,543
92,312
373,870
59,316
Cash on hand
t 6,031,208
37,504
291,868
329,178
Deficit in assets
64,639
64,639
64,639
Miscellaneous items
||
64,639

Liabilities—

Amount

Par
Value.

GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR.

1876.

4T

INTEREST OR DIVIDENDS.

Size, or

$100 $19,714,285
1871
1862
1862
1862

1879

gold

BONDS.

AND

by giving immediate notice of gany error discovered in these Tables.

Miles Date
of
of
Road. Bonds

explanation of column headings, &c., see notes
on first page of tables.

For

STOCKS

*

,

•

•

6 g.
7
7
7
7

7
7
7 g.

.

do
do
do
do
do
do
do
do
do
do
do
do
do
do

J. N. Y., Chem. Nat. Bank.
A.
Philadelphia, Office.
O.
do
do
do
do
J.
A.
do
do
do
do
A.
do
N.
do
O.
Philadelphia.

J.
F.
A.
J.
F.

&
&
&
&
&
F. &
M. &
A. &
•

•

Jan.

6, 1880
1. 1880
1912
1912
1912
1912
1912
1912
1912
1912

July

July
July
July
July
July
July
July
July
July
July
July
July
Jan.
Mch.

1912
1912

1:

1912
1912
1912
1887
1884

©

©

July 1,
Feb. 1,
Apr. 1,
July 1,
Feb. 1,
Feb. 1,

May 1,
April 1,

192S
1890
1882
1890
1896
1896
1900
1902

•

®

888•
g.
6 g6
7 6

do

do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do

•

•

•

6
6
0
6

Stocks—Last
Dividend.

Winslow, L. & Co. Jan.

do

J. & J.
F. & A.
M. & S.
A. & O.
M. & N.
J. & D.
J. & J.
F. & A.
M. & S.
A. & O.
M. & N.
J. <fc D.
A. & O
J. & J.
M. & S.

Bonds—Princi¬

pal, When Due.

®

J. & J. N.Y., Office, 252 B’way.
do
do
J. & ,T.
J. & J. Boston, First Nat. Bank
do
do
M. & N.
M. & N. New York and Boston.
J. & J. Boston, Columbian B’k.
do
do
A. & O.
do
do
Various

Jan.

1, 1899

Jan. 1, 1890
Jan., 1900

Nov., 1901
May, 1891
July 1, 1887
Oct. 1, 1887
Sept. 1, 1891

Pittsburg A Lake Erie.—From Pittsburg, Pa , to Youngstown, O., 6S
miles; branch line to Newcastle, Pa., 3 miles; total, 71 miles. Opened
Feb. 1, 1879. Floating debt, $751,550. The annual report was pub¬
lished in the Chronicle, V. 30, p. 141. The gross earnings in 1879 were
$335,648; net, $157,923. The Lake Shore & Michigan Southern sub¬
scribed for $200,000 of the stock. (V. 28, p. 113, 147 ; V. 30, p. 141.)
Pittsburg Titusville A Buffalo.- Brockton, N. Y.,' to Irvington, Pa.,
via Corry and Oil City, 139 miles, and Union to Tryonville, Pa., 18
miles, total 157 miles. This wras a consolidation February 16. 1880, of
the Pittsburg Titusville & Buffalo Railway and the Buffalo Chatauqua*
Lake & Pittsburg.
The P. T. & B. was organized in 1876 as suc¬
cessor of Oil Creek & Allegh. RR., which -was a conolidationembracing the
Oil Creek and Warren & Franklin roads. Default was made Aug. 8,1878,
on the consolidated bonds. The new company is to assume all liabilities of
the old. See V. 30, p. 193, as follows: “ By the articles of consolidation,
the capital stock or the consolidated corporation is fixed at
shares of common stock of a par value of $50 per share,

127,500
making

$6,375,000, and 15,000 shares of preferred stock of a par value of $50
each, making $750,000. The stockholders of the Buffalo Chatauqua*
Lake & Pittsburg. Company are to receive 27,500 shares of the common
726,893
stock of the consolidated company and 2,500 shares of the preferred
888,783 stock.
But there shall be paid to the consolidated company by the184,601 stockholders of the
company the aggregate sum of $175,000, $50,000 of
262,500
which is to be expended upon improvements. It is also provided that'
65,590 there
shall be issued to the holders of the common stock of the Pittsburg:

Railway Company, to represent
23,056,586 23,297,655 23,062,567 received, 100,000 shares of the common stock of the property actually
consolidated com¬
Stocks and bonds as follows: Little Miami, $1,100 stock, $8,000 pany, and as many shares of the preferred stock as there shall at the*
bonds; Little Miami Elevated stock, $20,000; Dayton & Western bonds, time of the ratification of the agreement be outstanding of the preferred1
stock of the Pittsburg Titusville & Buffalo Railroad Company.
The
$34,855; C. C. & I. C. bonds, $275,000.
bonds of the Buffalo Chatauqua Lake & Pittsburg Company, amounting
t Includes supplies March 31,1875, transferred.
+
This item explained in note to income account for 1876, above.
to $250,000, and all the bonds of the Pittsburg Titusville & BuffaloB Additions to Cincinnati Street Connecting RR.
Company, shall be assumed and paid by the consolidated company*
The Income bonds, old and new scrip, and also all overdue coupons of*
—(V. 28, p. 376; V. 29, p. 539; V. 30, p. 118, 298, 381.)
the Pittburg Titusville & Buffalo Company, shall also be assumed by the
Pittsburg Fort Wayne A Chicago.—Pittsburg, Pa., to Chicago, Ill., 468 consolidated company. It is also provided that the officers of the Pitts¬
miles. The company made default Oct. 1,1857, and again in 1859, and burg Titusville & Buffalo Railway Company shall serve until the next
election, as the officers of the consolidated company, on the second
was foreclosed Oct. 24,1861, and reorganized under this title Feb. 26,
1862. On June 27,1869. the company leased all its road and property Monday of January, 1881.” (V. 28, p. 18, 2TT; V. 29, p. 253; V. 39,
to the Pennsylvania Railroad at a rental equivalent to interest, sink¬ p. 17, 67,193.)
ing fund of debt, and 7 per cent on $19,714,286 stock, which was
Pittsburg Virginia A Charleston.—From Birmingham Pa., to Monongaincreased at that time from $11,500,000. The lease was transferred hela City, Pa., 30 miles. The stock is $676,613. Of the bonds, $500,000subsequently to the Pennsylvania Company. The lessees are to keep are owned by the Pennsylvania Railroad. Net earnings in 1876 were
the road in repair and also pay taxes, expenses, <fcc. The Pittsburg Ft. $40,346; in 1877, $34,640; in 1878, $52,298; in 1879, $27,084. (V. 28,
Wayne & Chicago leases the Newcastle & Beaver Valley and the Law¬ p. H3.)
rence roads, which in turn are leased again by the Pennsylvania Com¬
Pomeroy A State Line.— Pomeroy, Pa., to Delaware State line, 2Z
pany. The special improvement stock is issued to Pennsylvania Railroad miles. The former Penn. & Del. RR. was leased to the Pennsylvania
for improvements, &c., under article 16 of lease, which reads as fol¬
Railroad, with net earnings as rental. On August 12, 1879, the road
lows :
was sold in foreclosure for $100,000, aud this company organized, a»
Article 16. The party of the first part hereby agrees that, for the owners of this
part of the road, which connects with the Newark & Del.
purpose of enabling the party of the second part to meet the obligations City RR., 17 miles. Strickland Kneass, President. Philadelphia. (See
of the party of the first part to the public, by making from time to time Y. 29,
p. 162; V. 30, p. 170.)
such improvements upon and additions to the said Pittsburg Fort Wayne
Port Jervis A Monticello.—From Port Jervis, N. Y., to Monticello, N. Y.,
& Chicago Railway, in the extension of facilities for increased business
24 miles. Formerly the Monticello & Port Jervis Railroad, whiea was
by additional tracks and depots, shops and equipments, and the substi¬
tution of stone or iron bridges for wooden bridges, or steel rails for iron sold in foreclosure July 16,1875, and reorganized as the present Port
Gross earnings in 1878 $27,954; net earnings,
rails, the party of the first part will issue, from time to time, a special Jervis & Monticello.
stock, which shall bear such name as shall be hereafter agreed upon, or $3,103. The stock is $724,276, issued to the former holders of first
bonds, or other securities, which shall be issued in such form as may, mortgage bonds.
from time to time, be found to be most available with respect to economy
Port Royal A Augusta— Line of road; Port Royal, S. C., to Augusta, Ga.,
of interest and negotiability, and shall be consistent with the legal 112 miles.
Formerly Port Royal Railroad. Defaulted Nov. 1, 1873,
powers of the party of the first part and the rights secured by these and receiver appointed May 9,1875. Sold in foreclosure June 6,1878,
presents, which special stock, or bonds, or other securities, shall be and purchased for the bondholders, who organized this company. The
issued on the conditions following: The said party of the second part Georgia Railroad was endorser on $500,000 of the old bonds.
The new
shall guarantee the payment, semi-annually or quarterly, thereon of stock is $750,000.
such rate of interest as may be agreed upon between the parties hereto,
Portland A Ogdcnsburg. —Line of Portland Division, from Portland,
to be paid by the said party of the second part to the holders thereof
Me., to Fabyans, 91 miles. It reaches the Vermont Division by using 14
without deduction from the rent hereinbefore reserved; and the said miles of the Boston Concord & Montreal Railroad and a 3-mile link of its
special stock, or bonds, or other securities, shall be issued only in respect own. The Vermont Division is 119 miles, Lunenburg, Vt., to Swanton,
to improvements of and additions to the said railway which, and esti¬
Vt. In March, 1875, the two divisions were nominally consolidated. In.
mates and specifications of which, shall have been submitted to and
1876 the company defaulted and a receiver was appointed. Litigation
approved by the said party of the first part in writing; and all such has since been pending. In February, 1880, the Vermont division bond¬
improvements or additions shall be made in such manner as shall be holders organized a new company as the St. Johnsbury & Lake Cham¬
approved by the said party of the first part. The party of the first part
snail not at any time, during the term aforesaid and the continuance of plain Railroad. Earnings of the Portland Division for five years past
were as follows:
this lease, make or issue any bond or obligation, in addition to the bonds Years.
Net Eam’gp©
Gross Earn’gs,
Miles.
hereinbefore specified, except subject to this lease, without the consent
$104,0 7
1874-5....
$226,150
in writing of the said party of the second part first had and obtained
91,0* «
94
234,980
1875-6....
Total liabilities...

Titusville & Buffalo

29,820,756

*

.

“

-

thereunto.”
The lease has been profitable to the
for five years past were as follows:

Years.
1875

Passenger

Miles.
Mileage.
468
84,262,377
468 107,790,180
468
76,466,488
468
77,819,493
....




lessees.

Operations and earnings

1876-7....

1877-8....
1878-9....

262,764

69,4H

88,574
94
270,783
92,295
94
271,493
p. 253, 435, 632; V. 30, p. 142,170.)

Gross
Net
Div’d
Freight (ton)
144, 200; V. 29,
Earnings, p. ct. -(V. 28, p.
Earnings.
Mileage.
Portland A Rochester.—Portland, Me., to Rochester, N. H., 53 miles.
491,289,899 $7,863,664 $3,278,398
Put in the hands of a receiver February, 1877. The bonds series A and.
7,853,848
3,066,687
567,572,005
B were issued to the city of Portland in exchange for city bonds, out
6,928,856
2,864,457
439,998,281
which the city pays interest. July 8, 1879, the interest of the city Is.
3,689,196
7,830,109
637,470,506
this road was sold to the receiver. (V. 28, p. 41, 625; V. 29, p. 42.)
3,720,117
[8.221,246

Subscribers will confer

a

first page

see

notes

of tables.

Bonds—Princi¬

INTEREST OR DIVIDENDS.

Date Size, or
of
of
Par
Road. Bonds Value.

Miles

explanation of column headings, &c.,
on

[vol. xxx.

great favor “by giving immediate notice of any error discovered in tliese Tables.

DESCRIPTION.
For

/

RAILROAD STOCKS AND BONDS.

48

„

Amount

Outstanding

Rate per¬
cent.

When

Where Payable, and by

pal,When Due.
Stocks—Last

Whom.

Dividend.

Boston, Office.
Portsmouth, Treas,

Jan. 15, 1880
Jan. 1, 1880

Best., Eastern RR. Co.

July 15, 1873

Payable

*

Portland Saco d• Portsmouth—Stock
Portsmo uth d Dover—Stock
Portsmouth Gt. Falls d• Conway—Stock
Bands (not mort.) guaranteed by Eastern

11

'j.

71
71
42
22
67
44

Raleigh d Gaston—1st mortgage
Reading d Columbia— 1st mortgage, coupon

97
40

RR
Poughkeepsie Hartford d Boston—1st and 2d mort.
Providence & Springfield—1st mortgage
Providence d Worcester—Stock
First mortgage bonds
New bonds...

11887754--99665..

2d mortgage, coupon
Lancaster & Reading, 1st mortgage
Rensselaer d Sa?%atoga—Stock
1st mortgage, consolidated (for $2,000,000)
Rhinebeck d Conn.—1st mortgage, gold.
Richmond d Danville—Stock
State sinking fund loan
'Rrvnrfa

40
15

181
79
35
199

arnnt.p.pfl lw Stn.+p,

loan

3.42
49
29

757,800
770,000

.

1877

500 &c.

ioo

....

1870
1877
1873
1862
1864
1873
....

1,000
....

Coupon bonds of 1881

•

m

25
25
25
18
108

mortgage

100 &o.

1,000

1,000

3
6
6
8
7
7

7
4
7
7

3,866,000

1,000

109,400
1,767,500
1,728,000
500,000

1873
....

....

“o'

508,486

6
6

....

100

1870

1875

500
100

150,000
50,000
555,200

1,000

2,160,000

....

1878

“

J.
J.

& J.
& J.

J.
J.
J.
D.

do

do

Dec. 1,

1937

July 1, 1892

.

J.

Providence, Office.
do
do

.

&
M. &
J. &
J. &
J. &
M &

do
do

J

& J.
J. & J.
M. & N.

Richmond, Office,
do

N.

Y.,City Nat. Bank,
do

Jan. 1, 1880
July 1, 1880

1897

J. Phila.,Pa.,&Ral’gh.N.C.
8. N. Y., Union Nat. Bank.
D. Columbia, First Nat.B’k
J.
Pliila., Co.’s Office.
J. N. Y., Nat. B’k Com’rce.
N. N.Y*, Del.& H.Canal Co.

Jan., 1898
Mch. 1, 1882
June, 1884
July 1, 1893
Jan.

1, 1880
Nov., 1921

1880
Jan. 1, 1875
1878 to ’90

do

1888

6-70 A.
0. New York or Richmond
6 g. J. <k J.
London.
6 & 7
Various
Richmond, Office.
8
J. <fc J.
do
2
J. & J.
Richmond, Office.
A. & O.
8
do
do
M. & N,
7
do
do
3
J. & J. N.Y., by N.Y.L.E.&W.Co
J. & J.
7
New York.

1,008,600

1,000

....

&
&
&
&

I8-

500,000
57,327
180,000
450,000

....

J.
J.
J.
J.

"l

350,000

;’ioo
1867
1874

4*2

350,000
7,000,000
1,925,000
800,000

100 &c.
100

Portland Saco d Portsmouth.--Portland, Me., to Portsmouth, N. H., 51
miles. It was leased May 4,1871, to the Eastern Railroad, Mass., at 10

•

11887744--965965

1,000

1871

3
3
3

486,000
535,000
500,000
2,000,000
500,000
650,000
820,000
650,000

• •'€» •

• •••

Richmond d Petersburg—Stock
1st mortgage, coupon
New mortgage
Rochester d Genesee Talley— Stock

Rochester d State Line.—1st

$1,500,000

100
100

....

10

3d mortgage, consolidated, coupon or registered.
New general mort., gold (for $6,000,000)
Piedmont branch, 1st mortgage
Northwestern, N. C., 1st mort^ guar
Rich’d Fredericksburg d Potomac—Bonds, ster
Dollar

$100

51

1885
1880-85
1881-’90
Jan. 6, 1880
1880 to ’86

May 1. 1915
1, 1880
July 1, 1902

Jan.

The volume of traffic—both passenger and

freight, and especiall}' the
very encouraging growth. The total gross tons of freight
per cent on stock. Leaso rental changed May 21, 1877, to 8 per cent transported are 354,521 tons, as against 282,730 tons for the previous
until July 1,1881, and after that 6 per cent. (V. 28, p. 5‘80.)
year; an increase of 71,791 tons, or 25-4 per cent. The mile tons for the
Portsmouth d DoverPortsmouth, N. H., to Dover, N'. H., 11 miles. year are 47,144,636, as against 33,350,176 for the previous year; an
Opened February 1,1874, and leased for 50 years to Eastern of New increase of 13,794,460, or 4l-4 per cent. The total gross earnings from
Hampshire at 6 per cent per annum on the stock. Operated now by freight traffic are $1,145,373, against $956,634 for the previous year;
Eastern (Mass.) A suit as to rental was decided April, 18S0. See V. 30, an increase of $188,739, or 19-7 per cent. Of this increase, about 75*7
per cent in earnings is derived from through freights, and is due in part
p. 358. Frank Jones, President, Dover, N. H.
to the improved facilities for handling this class of traffic which have
Portsmouth Gi'cat Falls d Conway— Conway Junction, Me., to North
been effected, but also largely to the satisfactory connections with the
Conway, N. H., 71 miles. The Eastern Railroad in Massachusetts has Charlotte Columbia &
Augusta Railroad established in the fall of 1878,
made a lease of the road for 60 years from October 1,1878, with a guar¬
as reported to .your last
meeting, by which an addition to the freight
anteed rental of $45,000 a year, which pays 4*2 per cent on $1,000,000
traffic alone of $93,722 was received. The local and
bonds, and the stock is to receive the same dividends as the stock of the of the Richmond & Danville Railroad have also connection freights
yielded increased
lessees. The total stock is $1,150,300, and the lessees own $486,000 of
revenues of $62,995; and passenger trains on all lines have produced
the bonds and $551,300 of the stock. (Y. 27, p. 15, 97, 115, 228.)
increased earnings over last year of $35,728, as shown above.”
The income account Was as follows:
Poughkeepsie Hartford d Boston.—From Poughkeepsie, N. Y., to New
York State Line, 43 miles. The Poughkeepsie & Eastern Railroad was
Net earnings Richmond & Danville Railroad
$499,994
opened in 1872, and was sold in foreclosure May 15, 1875, and the Received from interest on investments
40,526
present company organized. It connects with the Connecticut Western
$540,520
Railroad.
The stock is $850,000.
In 1878-9, gross earnings were Deduct interest on
funded debt.
$246,444 v,
$51,844 and expenses $51,511. G. P. Pelton, President, Poughkeepsie, Deduct interest on
:
floating debt
10,604
Deduct rental Piedmont Railroad
60,000
*
Providence d• Springfield — Providence, R. I., to Pascoag, 23 miles. It Deduct loss on lease North Carolina Railroad
35,906
is proposed to extend the road to Springtield, Mass.
The stock is $517,352,955
150.
In 1878-9, gross earnings were $79,988; net earnings, $39,302.
William Tinkham, President, Providence, R. I.
Net income
$187,565
Providence d Worcester—From Providence, R. I., to Worcester, Mass.,
rROFIT AND LOSS.
43 miles; branches, 8 miles; leased Milford & Woonsocket Railroad and
Hopkinton Railroad, 15 miles; total operated, 67 miles. Operations and Balance to debit of this account, Sept. 30, 1878
$312,227
Sundry accounts charged during past year
earnings for five years past were as follows:
10,451
Net
Freight (ton) Gross
Div.
Passenger
Miles.
Years.
Mileage.
Mileage.
Earnings. Earnings. p. c. Following amounts credited during past year, viz:
Net. income for the year 1879
$187,565
1874-5.
66
14,976,537
14,283,114 $890,660
10
$237,439
Premium on Greenville and Spartanburg county
66
1875-6.
13,516,407
226,032
17,192,890
8
894,155
bonds sold
19,868
1876-7. ...66
4
18,862,705
13,592,849
904,635
245,299
Sundry accounts
22,108
1877-8. ...66
13,973,108
4
17,916,241
865,792
285,731
229,541
66
1878-9.
.12,864,603
19,286,814
5
919,852
350,345
Raleigh d Gaston..—From. Raleigh to Weldon, N. C.. 97 miles. Stock,
Balance
$93,136
...

...

...

t1,500,000. Dividend follows: cent paid October, 1879. Earnings for
years past were as of 3 per
ve

Years.

Gross
Miles.
97
97
97
97

Net

Earnings.

Earnings.

$261,142
242,245
234,511
242,478
295,051

$96,110
88,701
85,750
107,185
115,343

(14 months)
97
—(V. 27, p. 94.)
Reading d Columbia.—From Columbia to Sinking Springs, Pa., 40
miles; branches, 12 miles; Lancaster & Reading Railroad, leased, 15
miles; total operated, 67 miles. Stock, $958,268. The road is controlled
and operated by Philadelphia & Reading, but accounts kept separate.
Gross earnings in 1879, $274,844; net earnings, $100,146; payments for
interest and rental, $94,930.
Rensselaer d Saratoga—Main line, Troy to Whitehall, N. Y., 73 miles;
branches, Albany to Waterford, 12 miles; to Green Island, 1 mile; to
Glens Falls, 6 miles; to Castletown, Vt., 14 miles; to Rutland, Vt., 62
miles; Balston to Schenectady, 15 miles; total line and branches, 183
miles. It was a consolidation of several lines, and the Delaware & Hud«on Canal Company leased the whole March 1, 1871, at a rental of 8
per
cent on the stock and 7 per cent on the bonds. The earnings given
below include the New York & Canada Railroad (150 miles). Opera¬
tions and earnings for four years past were as follows;
Gross
Net
Passenger
Div.
Freight (ton)
Years. Miles.
Mileage.
Mileage.
Earnings.
Earnings, p.c.
332
20,965,596
30,698,401
$1,981,234 $694,786
8
332
18,761,702
30,718,974
1,826,942
660,195
8
332
19,292,734
32,283,281
1,823,360
754,346
8
1,911,465
804,288
8
-(V. 29, p. 581.)
Rhinebeck d• Connecticut.— Rhinecliff, N. Y., to Boston Corner, N. Y.,
35 miles. Opened April 4,1875. Leases 6 miles to Connecticut State
tine. Stock, $614,500. Gross earnings in 1877-8, $55,951; net earn¬
ings, $1,162; rental, $7,833. Edward Martin, President, Red Hook,
N. Y.

Richmond d Danville.—From Richmond to Danville, Va., 141 miles;
branches, 12 miles; Piedmont Railroad, leased, 49 miles; total, 201
miles.
The North Carolina Railroad and the Northwestern (N. C.)
are also leased, but operated separately.
In 1878 the Pennsylvania
Railroad, which has an interest in this line, purchased a control of the
Charlotte Columbia & Augusta Railroad. The last annual report was
published in the Chronicle, Y. 30, p. 142, and referred to the business
of the road as follows:




latter—shows

a

•

Operations and earnings for flve years past were as follows:
Passenger Freight (ton)
Gross
Net
Years.
Miles.
Mileage.
Mileage.
Earnings. Earnings.
7,336,680
$923,058 $323,448
16,372,844
7,358,335
17,435,445
937,198
438,232
201
201

5,945,446
5,895,111

-

21,529,175
23,514,209
..

909,317
942,386
1,098,597

—(V. 30, p/142.)
Richmond

Fredericksburg d

Potomac.—From

Quantico, 80 miles. The

292,591
310,948

499,994

Richmond, Va.,

to

common stock is $1,031,100 and guaranteed
An abstract of the report of 1878-79 was given in V.

slock is $500,400.
29, p. 656. Gross earnings, $317,032; net earnings, $155,056.
p. 656.)
^

(Y. 29,

Richmond d Petersburg.—From Richmond to Petersburg, Va., 22*s
miles; branch, 2 miles; total, 24*2 miles. The road has earned moderate
dividends and the debt account is very small. Operations and earnings
for flve years past were as follows:
Passenger Freight (ton)
Gross
Net Div.
Years.
Miles.
Mileage.
Mileage.
Earnings. Earn’gs. p.c.
25 ^
2,344,675
2,124,063
$164,935 $78,251
25
2,238,173
1,475,359
137,407
60,096
25
2,097,594
1,576,263
137,116
47,271
25
2,016,684
1,594,670
140,069
62,553
4
25
2,176,390
2,047,436
154,622
73,071
4
—Annual report, V. 30, p. 272.
..

..

..

Rochester d Genessee Talley.—Avon to Rochester, N. [Y., 18 miles.
Leased July 1,1871, in perpetuity, to Erie Railway, and now operated
by New York Lake Erie & Western. Rental, $34,012. James Broekett,

President* Rochester, N. Y.

Rochester <6 State Line.—Rochester, N.Y, to Salamanca, N. Y., 108 miles.
The road was opened May 15, 1878, and was closely allied to the N. Y.
Central in management, and an order was granted,

February, 1880,

appointing Sylvanus J. Macy, of Rochester, receiver of the company.
The application was made by the Union Trust Co. of New York City, rt
is claimed that the bankruptcy of the road was brought about by
certain members of the Rochester Common Council, who
sought, in a
suit against the principal stockholders, to recover the original
mortgage bonds for $600,000,

first

investment of the city in an equal
an early
day will be
appointed for the sale of the road, and that it will pass into the
hands of the Vanderbilt management.
The road had been largely
assisted by the City of Rochester. (V. 30, p. 170, 223.)
amount of the railroad stock.

an

It i& believed that

-

RAILROAD STOCKS AND

April, 1880.]
Subscriber* will

confer a great favor

DESCRIPTION.

Date Size, or
Par
of
Road Bonds Value.

Miles

Rock Island <£

first page of

Home Watertown <£
1st

Ogdensburg—Stock
AR

•

1874-659.

sinking fund

2d mortgage
•
Consol, mort., convert,

till July, ’79, coup.

SyracusePNorthern (gold)

Rutland—General mortgage

(8 per cent, now

•

1st mortgage (series A)
1st mortgage (series B)
2d mortgage, preferred
2d mortgage, preferred
2d mortgage, income

sinking fund.. 1
sinking fund.. j
(
(series C)

(series D)

.. ►

| p,<s

ga

Equipment mortgage
Jo
St. L. Hannibal <£• Kook.—1st M . convertible
St. Louis Iron Mountain <€* Southern—Stock
1st mortgage, coupon
2d mortgage, gold, coupon, may be
Arkansas Branch, 1st mortgage, gold,

April 4,1877, the

1876
1876
1876
....

1864
1864
1864
1864
1864

till ’87

land grant

(cumulative)..
(cumulative) .

reg.

land

1877

50
685
210
310
99
71
304

1867
1872
1870
1872
1870
1879
1879

....

1,000
1,000

•

•

7
7
7
7
7
6
5
10
6
8

500,000
400,000
700,000

•

446^000

1,000

100 Ac.
....

2,300,000
2,468,400

100
100

1,000
1,000
5CO Ac.

100 Ac.
100

1,000
1,000
1,000
1,000
1,000

out

Boston, Treasurer.
do
-do

1900
July 15,1875
Sept. 1, 1880
Dec. 1, 1891
Jan. 1, 1898
July 1, 1904
July, 1901
Nov. 1, 1902
Jan. 1,

1875
1900

M. A N. New
.

.

.

York, 9th Nat. Bk.

.

A
A
A
A

J.
J.
J.
J.

New York.
do
do
do

J.

J.
J.
J.

May 1, 1902
April, 1879
Jan. 1, 1915
Jan. 1, 1915
Jail. 1, 1915
Jan. 1, 1915

....

•

J.
A.
F.
M.
M.
M.
A.

7
7
7
7
7
10
7

140,000

A
A
A
A
A
A
A

J. N. Y., Office 12 Wall st.
do
do
0.
do
do
A.
do
do
N.
do
do
N.
do
do
S.
0. N.Y.,Aiuerm’nABurw’l.

Feb. 1,1878
1894
1894
1894
1894
1894
1880
Oct, 1, 1917

*
m

m

m

....

m

7
7
7
7

g.
g.
g.
g.

rr

A. N.Y.,Office 20Nassau8t
N. New York or London.
D. New York, Co/s Office.
do
do
D.
do
do
J.
do
do
March.
do
do
March.

F.
M.
J.
J.
J.

7

4,054,937

i

6

3,937,720

1,000

•

J. N. Y., Corn Exch. Bank.
J. N. Y., Farm. I<. & T. Co.
do
do
S.
do
do
D.
do
do
J.
;
do
do
A O.
do
do
A J.

A
A
A
A
A

2

21,202,661
4,000,000
5,927,000
2,500,000
1,450,000
7,948,000

....

Capital stock

•

•

1,100,000
1,100,000
1,400,000
1,400,000
1,700,000
300,000

1,000
500 Ac.

Stocks—Last
Dividend.

....

7
7
7
7

1,900,000
1,200,000
1,900,000
1,200,000

....

Whom.

M. A N.
F. A A.

2^2

1,000,000

100 Ac.

Bonds—Princi¬

pal, When Due,

Payable, and by

Payable
J.
J.
M.
J.
J.
A.
J.

3

1,500,000
1,105,200

•

Where

Tables.

1880

4,260,000

100 Ac.
100 Ac.

When

Rate per
Cent.

1,021,500
1,000,000

1,000

Ill., to Peoria, Ill., 91 miles. This
foreclosure of the first mortgage

bondholders becoming the purchasers.

INTEREST OR DIVIDENDS.

5,293,900
424,200

100
100 Ac.
500 &c.

....

1876

of any error discovered in these

$1,500,000
150;000

25,000

1,000

&©

Cairo Ark. & Texatf, 1st mort., gold, coup or
Cairo A Fulton, 1st n ort., gold, on road and

Rock Island db Peoria.—Rock Island,
is the Peoria 6c Rock Island, sold in

76
112
112
115
115
207

9
?®

registered....

lstpref. income bonds, reg.,
2d pref. income bonds, reg.,

1855
1861
1872
1874
1871
1872
1878
1855
1877
1872

341s

Saginaw Valley <£• St. Louis.—1st mortg., coup..
St. Joseph <£ St. Louis—Stock
St. Joseph db Westeim— 1st M. St. Joseph & Pacific..
2d mortgage, income
Kansas 6c Nebraska, 1st mortgage
do
2d inert., income
St. Louis Alton <£ Terre Haute—Stock
Preferred stock (7 per cent yearly, cumulative)..
1

1878'

91
409
97
190
190
360
45
120
120
49

RR.)

mortgage (S. & P.

Outstanding

$....

sinking fund mort., Wat.

General mortgage,

1st

tables.

Peoria—Stock

1st mortgage

Amount

of

8
on

by giving immediate notice

49

BONDS.

!

A
A
A
A
A

Aug. 1, 1892
Mayl, 1897
June 1, 1895
June 1, 1897
Jan. 1, 1891
Various.

V. 29, p.

-(V. 27, p. 17, 140, 437, 454, 4S8, 603, 678; V. 28, p.476;
436, 658 ; V. 30, p. 170, 407.)
St. Louis Hannibal <£• Keokuk.—From Hannibal, Mo., to Keokuk.
is a new road under construction. The bonds were offered in New
—(V. 29, p. 539, 608.)

This
York.

$1,500,000. Gross earnings, 1879, $387,580; Eet earnings, $89,833,
Of^ which a 5 per cent dividend was paid on the stock. (V. 28, p. 351.)
St. Louis Iron Mountain <£ Southern.—Line of road, St. Louis, Mo., to
Rome Watertown & Ogdensburg.—Romo to Ogdensburg, 141 miles
Texarkana, Texas Line, 490 miles; branch lines, Mineral Point, Mo., to
branches, 49 miles; Oswego to Lewiston, 146 miles; Sandy Creek to Potosi, Mo., 4 miles; Bismarck, Mo., to Belmont, Mo., 120 miles; Poplar
Syracuse, 44 miles; leased Oswego & Rome Railroad, 29 miles; total Bluff, Mo., to Bird’s Point, Mo. (Cairo), 71 miles; total, 685 miles. This
owned, leased and operated, 409 miles. It was a consolidation October, was a consolidation (May 6, 1874) of the St. Louis & Iron Mountain, the
1861, of the Watertown A Rome and the Pottsdam Sc Watertown rail¬ Arkansas Branch, the Cairo A Fulton and the Cairo Arkansas A Texas

September 22,
The Syracuse
Northern was foreclosed, and purchased by this company August 1
1878. The Oswego & Rome was leased January 1,1866, at 8 per cent
on stock and interest on bonds.
The Rome Watertown & Ogdensburg
has been in default on coupons of the consolidated bonds since April 1
1878. No reorganization or foreclosure has taken place. Operations
roads. The Lake Ontario Shore Railroad wjis foreclosed
1874, and transferred to this company January 15, 1875.

and earnings for five years past were as follows:
Passenger
Freight (ton)
Years.

Miles.
269 •
335
408

Mileage.

Gross

Earnings.

Mileage.
21,165,541
20,366,365
26,732,738

modification of the lease was made, giving $250,000 per
minimum rental and $8,000 for organization expenses. The
bondholders agreed to accept 5 per cent bonds in exchange for equip¬
ments and 6 per cent bonds in lieu of 8 per cents. (See last annual report,
Y. 29, p. 145.) -The common stock is $2,480,600 and preferred
$4,000,000. (V 30, p.118.)
and finally a

year as a

Placerville.—Sacramento, Cal., to Shingle Springs, Cal.,
consolidation of the Sacramento Valley and the
Folsom A Placerville railroads, April 19, 1877. Capital stock, $1,756,
000. Gross earnings, 1878, $157,750; net earnings, $56,688.
Saginaw Valley <£ St. Louis.—From Saginaw to St. Louis, Mich., 35
miles.
Road opened January, 1873. Has a traffic guarantee from
Miohigan Central. Capital stock, $264,804. In 1878. gross earnings
^ere $8 4,952; net $51,967.
Interest payments, &e.f $53,728. In July,
Sacramento dk

49Lj miles.

This was a

1879, management was transferred to the Detroit Lansing & Northern.
—(V. 27, p. 304; V. 29, p. 96.)
St. Joseph <Sk St. Louis.—St. Joseph, Mo., to Lexington, Mo., 76 miles.
Present company is successor to the St. Louis & St. Joseph Railroad, sold
in foreclosure February 8, 1874. The St. Louis Kansas City A Northern
took a lease of the road for 99 years July 1, 1874. The terms of the
lease are an annual payment of $35,000 for five years and then 30 per
cent of gross earnings, but $25,000 guaranteed.
s
St.

Joseph dk Western—Line of

Joseph,
Division—Marysville, Kan.,
reorganization

road: East Division—West St.

Kan., to Marysville, Kan, 112 miles; West
to Hastings, Neb., 115 miles; total, 227 miles. This is a
of the former St. Joseph & Denver City road, which went into the hands
of a receiver in 1874 and was sold in foreclosure in November, 1875.
On the foreclosure of the two divisions two companies were organized,
the St. Joseph & Pacitie and the Kansas A Nebraska, with bonds as

Western, with $3,300,lands, as the land grant
of trustees for the benefit of the
first mortgage bonds
are incomes only till July, 1881.
The road is leased to Kansas Pacific,
and thus tq the Union Pacific, and is to be extended (as reported) to a
junction with the Kansas Pacific at Agate, 66 miles east of Denver.
In 1878 the gross earnings were $641,391; operating expenses, Ac.,
$580,209. (V. 28, p. 351, 625; V. 29, p. 331, 670; V. 30, p. 93, 170.)
St. Louis Alton & Terre Haute—Main line from Terre Haute, Ind.,to
East St. Louis, 189 miles; branches, 19 miles; leased line—Belleville &
8outhem Illinois Railroad, 56 miles; total operated, 264 miles.
This
company was a reorganization, Feb. 18, 1861, of the Terre Haute Alton
A St. Louis Railroad. The Belleville & Southern Illinois is leased to this
company for 999 years from Oct. 1, 1866. The main line (St. L. Alton
A Terre Haute) was leased June 1,1867, for 99 years to the Indianapolis
& St. Louis Railroad at a rental of 30 per cent of the gross earnings up
to $2,000,000, 25 per cent on the next $1,000,000, and 20 per cent on
all over $3,000,000; but it was agreed that in no year should the rental
be less than $450,000. The lease was guaranteed by three other com¬
above. These were consolidated as St. Joseph A
000 stock. The present bonds have no lien on
of 300,000 acres was put in hands
holders of the old land scrip of $2,250,000. The

panies (See V. 26, p. 614

and 654). The lease was

unprofitable and the

their one-tliird of the de¬
pending. In 1879-80 the
company recovered from the former purchasing committee, Messrs.
Tilden, Butler, Sage and Bayard, $400,000 for bon«ls retained by them at
the time of reorganization. The Belleville Branch and Extension are
Operated separately by this company, and earned net in 1879, $159,359.
guarantors refused to pay more than
ficiency, and a suit was begun, which is still
solvent




In 1875 the company

defaulted, but promised to resume the

payment of interest if bondholders wrould fund certain coupons, which
they did. The officers of the company afterwards broke faith with the
bondholders, refused to pay the coupons, applied the earnings of the
road (which were large) to the payment of floating debt instead of in
terest, and resorted to litigation to defeat the bondholders. Finally, a
new compromise agreement wras made November 27,1878, as reported
in the Chronicle (V. 29, p. 43). By this the subscribing bondholders
Net
agreed to deposit with the Union Trust Company the funded interest
Earnings
$259,283 certificates and unpaid coupons belonging to their mortgage bonds, and
277,574 to receive in exchange therefor first preferred income bonds, bearing 7
336,708 per cent interest, payable annually on March 1 out of the net
350,747 income of the preceding calendar year (interest accumulative). The
308,648 interest certificates and coupons for which they are issued are not to
be canceled, but held as security for the execution of the agreement
as specially provided.
The subscribing bondholders who hold consoli¬

$1,149,907
14,205,798
1,221,727
15,588,607
1,248,842
17,549,628
1,203,786
24,967,418
15,199,509
408
1,143,288
25,914,496
20,517.456
408
—(V. 26, p. 334; V. 28, p. 276; V. 29, p. 68, 581.)
Rutland.—From Bellow’s Falls, Vt., to Burlington, Vt., 120 miles. This
road has been through many changes. It was leased to the Central Ver¬
mont in December, 1870, for 20 years, but the lessee became insolvent,
,

railroads.

surplus

with the Union Trust Co.,
preferred income bonds,
annually out of the net surplus in¬
come remaining after the payment of all interest due on the first pre¬
ferred income bonds, and accumulative.
The consolidated mortgage
bonds are not to be canceled, but kept as security for the execution of
the agreement as specially provided.
The subscribing stockholders
agree to transfer their stock to the trustees, who shall have the absolute
right to vote upon the same until one year after the period subsequent
to March 1, 1880, when the company shall have paid the full interest
due and accumulated on said first and second preferred income bonds,
provided also that the company shall pay punctually the full amount
of interest accrued during that year on such bonds.” The iuterest for
1879 on the first preferred incomes paid in May, 1880. In March, 1880,
the managers put an end to the stock trust by obtaining the consent of
the bondholders. The annual report for 1879 was published in V. 30, p.
320. Comparative statistics for four years are as follows:
EARNINGS.
dated mortgage bonds agree to deposit them
and to recieve in exchange therefor second
bearing 6 per cent interest, payable

1876.

$
Total gross

eam’gs

..

Receipts—
Net earnings
I)isb urseinents—
Interest on bonds....
Other interest
Disc’t on con. in. bds.

4,002,045

1877.

$

$

1,483,646
$

1,762,095
260,263
8,100

33,684

$

Assets—

44,755,806
786,228

3,839,579

receiv’le
Materials, fuel, Ac...
Cash

on

264,694
35,798

hand

416,951
15,000

Income account

Miscellaneous items.

50,114,055
Total assets
Liabilities—
21,510,253
Stock
24,797,000
Funded debt...
2,263,565
Certfs. A unfund, cou
1,375,576
Bills payable, Ac
Funded interest
114,300
Interest accrued, Ac.
.

Equipm’t renewal fd.

50,114,055

2,300,555

1,945,956

1,740,207
390.199
667,800

1,814,600
167,027

$
2,222,194
40,438

32,825

84,600

'373,257

120,331

341,334

$

$

$

44,960,735

FISCAL YEAR.
$

45,237,715

753,581
3,742,908

656,977
3,648,008

241,382
208,458

198,310

1,116,081
5,000

320,564
432,305

1,236,415
604,826

$
45,691,907
598,313
3,556,472
506,629
242,312
386,892
1,577.753
to56,677

51,028,147 52,335,184 53,219,959
$

$
21,471,151 21,469,101
25,909,000 25,909,000
2,440,125
539,029
430,415

777,456

2,438.165
1,979,889

21,458,961

30,068,657
489,019

108,210

11,095,111

53,360

Total liabilities...

$

$

$

2,131,902

416,950
580,496
Balance, deficit..
GENERAL BALANCE'AT CLOSE OF EACH

Lands
Bills A acc’ts

$

5,292,611

4,514,321

INCOME ACCOUNT.

Miscellaneous

Road and equipm’t..
Real estate

1879

1878.

$
4,500,422

51,028.147 52,335,184 53,219,959
1874-5-6-7-8, $105,139 ; judg¬

Includes taxes on Ark. trust lands for
ment by Rogers’ Locomo’e Works,
t This includes $569,846 of Arkansas
*

$50,400; change of gauge, $195,169.
land trust notes.
1 This includes sundry coupons overdue, $26,390; coupons on Divi¬
sional mortgage bonds to June, 1880, inclusive, $489,368, and on
income bonds, $579,174.
-(V. 28, p. 43, 173, 302,

320, 358.)

325; V. 29, p. 18;

Y. 30, p. 193, 219, 298,

RAILROAD

50
Subscribers will confer

a

DESCRIPTION.

.

notes

Louis Keokuk d5 X. IT.—Stock($l,350,000 is pref.)

Date
Size, or
of
of
Par
Road. Bonds Value.

135
135

Income bonds
Bl. L.d. S.Francisco.—1st M. (So. Pac.), g., (I’d grant)
2d mortgage bonds, A
do
do
B, gold
do
do
C, gold
Land debentures
New

mortgage, Mo. & Western, gold
Joplin RR. bonds
Louis d Southeasiern—1st M., gold. conv. s. timd
Consolidated mortgage, gold, sinking fund...
.

St. Louis Vandalia d Terre Haute—1st M.

s.

f. guar

2d mort., sink, fund ($1,600,000 guar.)
St. Paul d Duluth— Preferred 7 per cent stock
Common stock
Paul Minneapolis & Manitooa—Stock
1st mortgage, St. Paul to St. A.
2d M., and 1st, St. Paul to Watab
Land grant sinking fund 1st mort., gold
2d mort., gold
St. Paul & Sioux City—Pref. stock
Common stock
New mortgage, gold (for $7,000,000)
Mortgage on new lines ($10,000 per mile)
Omaha & No.Nebraska, stock
St. Paul Stillwater & Taylors’ Falls, 1st mort
do
do
do
Income bonds

135
293

84

1876
1876
1868
1876
1876
1876
1874
1879

$....
1,000
1,000
500
100
500
500

’69-71
1872
1867
1868

169

1,000
1,000

Sandusky Mansfield & Newark—Re-organized stoe)
1st mortgage, new
San Fi'ancisco d North Pacific—Ctock

1,000
1,000
•

•

•

'

•

•

•

100

1874-965.

1,620,000
1,080,000
7,144,500
419,305
2,716,932
2,348,000
350,000
1,100,000
200,000
3,250,000
5,145,000
1,899,000
2,600,000
4,823,800
4,055,400
15,000,000

1*6

1862

1.000

76

1862

1,000

667
667
594
594
594

1879
1879

100 &c.

Rate per
Cent.

...

•

1879
1880

-

•

1,000
1,000

63
22
....

116
116
94

....

1869

....

50

1,000

.7 g.
7

7

St. Louis Keokuk cCThe Mississippi

Northwestern.—Keokuk, la., to St. Peters, 135
Valley & Western Railroad was sold April 14,
1875, and this company organized July 1, 1875, the date of the opening
of the road. Road completed in Autumn of 1879. Income bonds above
were originally a part of $2,750,000 first
mortgage bonds, but by agree¬
ment they were changed into their present form. Gross
earnings for ten
months ending Dec. 31,1878, were $170,356 and net earnings $28,014.
St. Louis d San Francisco.—Line of road, Pacific, Mo., to
Vinita, I. T.,
327 miles, and branch from Peirce City, on main line, to Wichita, Kan.,
227 miles; total, 554 miles. This company was
organized September 20,
1876, as successor to the Atlantic & Pacific Railroad. The latter was
chartered by act of Congress July 27, 1866, and embraced the South
Pacific Railroad (originally the Southwest Branch of the Pacific Railroad
of Missouri), which was consolidated with the Atlantic & Pacific road
October 25, 1870.
The South Pacific Railroad had a grant of lands
by act of Congress June 10, 1852, of 1,161,205 acres. The Atlantic &
Pacific received about 500,000 acres of land.
The South Pacific
lands showed 617,909 acres on hand January 1,1879. Atlantic & Pacific
lands showed 294,286 acres on hand at same date, and for these lands
(Atlantic & Pacific) the second mortgage bonds, class B, are receivable
in payment.
The stock authorized is $4,500,000 of first preferred,
$10,000,000 of preferred and $10,500,000 of common. The interest on
bonds “B” and“C” is 3 per cent for
1879-’80-’81, 4 for 1882,5 for
1883 and 6 afterward. An abstract of the last annual
report was publislied in V. 29, p. 145. The gross earnings in 1878 were
$1,201,651; net,
$603,517, against $739,136 in 1877. Gross earnings in 1879 were

an agreement was made with the

tchison Topeka & Santa Fe for construction of a
through -line to
the Pacific coast on the parallel from
Albuquerque, on the Rio Grande,
to San Francisco.
The road is to cost $25,000,000, and to be known
as the Atlantic & Pacific
Railway. Three trustees—John A. Stewart,
of the U. S. Trust Company, Warren
Sawyer and H. P. Kidder,of Boston
—are appointed to hold the stock in trust.
The voting power is to be
vested in six directors of each road. The old
companies are to preserve
their separate organizations, and the gains of traffic on the
extension are
to be divided in equal proportions. The two
companies divide the issue of
bonds ($25,000,000). The cost of the first division will be about
$12,500,OOO. Stockholders in the Atch. & Santa Fe and St. L. & S. F.
companies
will have the right to subscribe for a 6
per cent bond at par, receiving
therewith a $750 6 per cent income bond. The Atlantic & Pacific Com¬
pany will reserve the right to take from subscribers, before 40 per cent
of the subscription has been paid, the first,

mortgage bond,

paying back
the subscriptions advanced with interest, but
leaving with subscribers
an income bond for $500
costing nothing. Each
nish one-half of this amount, and in addition company agrees to fur¬
to its shares of bonds
receives also a bonus in stock. The annual
report for 1879 was pub¬
lished in V. 30, p. 355, showing gross earnings of
$1,519,162, against
$1,201,651 in 1878; and net earnings $650,382 in 1879, against $575,507
in 1878. The interest
charge was $613,064. (V. 28, p. 253,454, 495,
527, 555; V. 29, p. 145, 331, 383, 436, 460, 539, 583, 630; V. 30,
p.

©

Stocks—Last
Dividend.

Whom.

Jan.
Jan.

©

& J.
& N.
& N.
& N-.

Q-J.

F.= & A.
M.
F.
J.
M.

....

..

N. Y., Trask & Stone.
do
do
do
do
do
do
do
do
do
do

1, 1906
1, 1906

July, 1888
Nov. 1, 1906

NoV. 1, 1906

Nov. 1, 1906
Jan. 1. 1884

.

&
&
&
&
.

.

.

m

N. N.
A.
J. N.
N.

Aug. 1, 1919

Nov”

Y., G. Opdyke & Co.
do

do

Y., Third Nat. Bank.
do

1894

Aug.. 1902
Jau. 1, 1897

do

May 1, 1898

0

....

....

8
7
7 g.
6 g.

366,000

M.
J.
J.
A.

S. N.Y.,J.S. Kennedy & Co.
J.
do
do
J. New York and London.
0.
do
do
New York.
Q-F.

1^

&
&
&
&

1881
1892
1909
Oct. 1, 1909
Feb. 18, 1880

....

3,810,000

101,520
1,072,000
2,303,000

J.
M.
M.
M.

6 g.

8

A. & 0. N.

Y., Metropol. N. Bk.

'

2
7

April 1,

i919

July 1, 1901

....

....

IstN.
& J. N. Y.,

....

J.

3,750,000

miles.

Payable, and by

....

105,000
450,000

....

....

Where

....

7 g.

120,000

5,887,500

.

3 &c.
3 &c.
10
6 g.

5,^87,500

•

....

.

6 g.
6

8,000,000

....

When

Payable

o

8,000,000

1,000

-

f1,653,843. On January 31, 1880,

[VOL. XXX.

$2,700,000

500 <fec.

•

169

Outstanding

&c.

....

210
420
158
158

Amount

&c.
&c.
&c.

....

.

-

BONDS.

INTEREST OR DIVIDENDS.

Miles
see

1st mortgage

e

AND

great favor by giving immediate notice of any error discovered in these Tables*

For explanation of column headings, &c.,
on first page of tables.

;

STOCKS

Bk., Sandusky, 0.
Union Trust Co.

Oct.* 1,* 1875
July, 1902

also by the Pitts. Cin. & St. Louis Railroad and the Col. Chic. & I. C. Co.

The stock is $2,383,315 common and
ferred was issued for income bonds

$1,544,700 preferred. The pre¬
($1,000,000) and for deficiencies
Tlios. D. Messier, President, Pittsburg, Pa.
Operations and earnings for five years past were as follows:
Passenger
Freight (ton)
Gross
Net
Years.
Miles.
Mileage.
’
Mileage.
Earnings.
Earnings.
158
15,891,779
40,063,114
$996,803
$176,444
158
16,180,710
45,972,258
1,062,075
247,393
made up by the lessees.

158
158
158

14,827,425

50,618,136

13,092,370

58,722,821

1,052,208
1,059,443

1,244,643

-(V. 28, p. 19; Y. 30, p. 116.)

207,067
158,685
294,272

St. Paul d Duluth—Line of road, St.
Paul,Minn.,to Duluth, Minn., 156
miles; Stillwater & St. Paul Railroad (leased), 13 miles; total, 169 miles.
This wras the Lake Superior & Mississippi Railroad,
opened August 1,
1870, and leased to the Northern Pacific. Default made January 1,1875,
and road sold in foreclosure May 1,
1877, and reorganized June 27th.
The preferred stock is received in payment for lands at
par. Three
shares of common stock have one vote, and each shar • of
preferred has
one vote.
The company lias a land
grant, of which about 1,280,000
acres remain unsold.
In 1879 gross earnings were $563 041; net earn¬
ings, $165,347. An abstract of the last annual report was given in V.
29, p. 118. (V. 29, p. 68, 118, 436; Y. 30, p. 58, 264.)
St. Paul Minneapolis d Manitoba.—This
company was organized out
of the St. Paul & Pacific RR., the First Division of the St.
P. &PacifloHR.,
the Red River Val. RR., and the Red River & Manitoba RR.—565 miles
of road, from St. Paul and
Minneapolis to Manitoba boundary line, and a
line from Alexandria to Winnepeg, 90 miles, and from Fisher’s
Landing
to Grand Forks, 12 miles,
making 677 miles in all. * The company takes
2,000,000, acres of land as successor to the roads above named, which
were foreclosed.
The small amount of the two
mortgages first above
named, about $486,000, is all that remains of the old bonds, and the new
land-grant mortgage is practically a first lien on the whole property at
$12,000 per mile. The proceeds of land sales are reserved by the first
mortgage trustees as a sinking fund for the redemption of the bonds at
or under 105 and interest.
The second mortgage bonds do not cover the
land. The company was organized May 23)
1879, under the charter of
the St. Paul & Pacific Railroad. Gross earnings last six
months 1879,
$1,361,944, against $928,306. (See Chronicle, V. 29,. p. 226, 513;
V. 28, p. 200, 454, 490, ^55, 580, 616; V. 29, p.
147, 226, 331,460,
.483, 513, 658; V. 30, p. 67, 209.)
St. Paul d Sioux City—This, was a consolidation in
August, 1879, of the
St. Paul & Sioux City and the Sioux City & St. Paul,
"forming a main
line from St. Paul to Sioux City, 270 miles. With extensions in
progress,
the company was to have within a short time 460 miles of road, with a
single mortgage of $4,600,000, or $10,000 per mile. All the old securi¬
ties of both roads

were

retired writli the

new

stock and bonds.

In

November, 1879, an agreement was made for the consolidation of a part
67,143,191,289,298,355 409.)
of this company’s roads with the Omaha & Northern Nebraska Railroad,
St. Louis d Southeastern.—Line of road—East
St. Louis, Ill., to as the “ St. Paul Sioux City & Nebraska Railroad.” The line to begin at
Evansville, Ind., 160 miles; branches to Shawneetown, Ill., 41 miles, Omaha, running through the Missouri Valley towards Sioux City, and
and to O’Fallon, Ill., 6 miles; total, 208 miles. The
whole consolidated with about 40 miles to be built, making a line from St. Paul to Omaha.
line, June 1, 1872, embraced the Evansville Henderson & Nashville and (See Chronicle, V. 29, p. 226, 303, 331, 513.) The St. Paul Stillwater
the Edgefield & Kentucky Railroads, 353 miles in all.
Capital stock, & Taylor’s Falls wras consolidated with this company
29, p.
$4,866,250 common and $5,974,850 preferred. Default was made in also the Worthington Sioux Falls & Iowa and Minnesota (V. Black 423);
&
Hills.
1873 .and receiver appointed Nov. 1, 1874. The Tennessee Division
New stock to cover these acquisitions was to be issued at $10,000 per
was
■sold April 9,1879, and purchased in the interest of the
Louisville & Nash¬ mile, or over $2,000,000 in all. The St. Paul Stillwater & Taylor’s Falls
ville, and the Kentucky Division sold July 19, 1879, to the same com¬ (St. Paul, Minn., to Stillwater, Minn., 70*2 miles and 6*4 miles branches
pany. The St. Louis Division went under the control of the Nashville had capital stock, common, $207,000;
preferred, $83,900. Share for
Chattanooga & St. Louis, and was leased to that company at $300,000 share of the common stock is exchanged for St. Paul & Sioux City
per year pending foreclosure (see Chronicle, V. 29, p. 631,
632; V. 30, stock. The company received from the State of Minnesota 44,246 acres
p. 43). Net earnings in 1877-78, St. Louis Division,
$168,210; Ken¬ of land. Three years’ coupons from the first mortgage bonds were
tucky Division, $61,778; Tennessee Division, $42,569. (V. 28, p. 18, funded into income bonds. The St. Paul & Sioux City had lands
353, 378; V. 29, p. 42, 96, 303, 631, 632; V. 30, p. 43, 299.)
unsold January 1, 1879, of 560,680 acres; the Sioux City & St. Paul had
St. Louis Vandalia <6 Terre Haute.—From East
St. Louis to Indiana 439,858 acres. In January, 1880, 200,000 acres of land were sold to
State line, 158 miles. Road opened
July 1, 1870. It is leased to the English capitalists at $6 per acre. Full accounts of the consolidation
and negotiations of this company were given in the
^Terre Haute & Indianapolis Railroad at a rental of
pages of V. 29 of
30 per cent of gross
^earnings. For the year ending October 31,1879, the income account the Chronicle as they transpired. In March, 1880, a consolidation
of this entire line with the Chicago St. Paul & Minneapolis was
was as follows:
negoti¬
Gross earnings, as reported by the lessee
ated, and H. H. Porter was elected President of the “ St. Paul Omaha
$1,244,643 &
Thirtv per cent of wliich,
Chicago ” Railroad. (V. 28, p. 171; V. 29, p. 226, 303, 331, 383, 436,
being rental, was
373,393 459, 483, 513, 539;
Add interest received on
V. 30, p. 118, 193, 223, 249, 264, 299, 409.)
city of Greenville bonds
185
Total income
Sandusky Mansfield <£• Newark.—Line of road, Sandusky, O., to New*-'
;
$373,578 ark, O., 116 miles. A consolidation
The year’s charges against this sum were:
of several roads in 1856. Leased
Interest on first mortgage bonds
February 13, 1869, to Central Ohio Railroad, for 17 years 5 months from
$132,930
Interest on second mortgage bonds
July 1, 1869, at a rental of $174,350, and the terms of lease guaranteed
182,000
Taxes.
by Baltimore & Ohio Railroad. It is operated as Lake Erie division of
33,422
the Baltimore & Ohio system.
General expenses
In 1878-79 the gross earnings were
2,974—
351,327
$639,821, and net earnings, $189,114, against $234,227 in 1877-78.
Leaving a surplus for the fiscal year of
$22,2ol —(Vol. 29, p. 535.)
which was applied to the repayment of advances
heretofore made to
San Francisco d North Pacific.—San Rafael, Cal., to Cloverdale, Cal.*
this company by the lessee,
leaving the balance to debit of profit and
loss, October 31,1879, $320,734. The annual report for 1878-79 was 78 miles, with a branch from Fulton, Cal., to Guerneville, Cal., 16 miles.
This is a consolidation of several companies. In 1876-7 (no later infor¬
Chronicle, V. 30, p. 116. The first mortgage and mation furnished)
gross earnings were $467,501 on 72 miles oper¬
$1,000,000 of second mortgage bonds are guaranteed by
the lessees and ated, and net
.

*

'




earnings $247,398.

April,

1880.]

Subscribers will

confer a great

favor by giving

DESCRIPTION.
For

explanation of column
on

first page

headings, &c., see notes

of tables.

mort.

1869

500
100 &c.
500

1867

500 &c.

1853
1868

....

101
286
•

.

.

^

„

58
58
63
60

Savannah d Memphis—1st mortgage
Schenectady d Duanesburg—1st M., guar.

D. & H..
Schuylkill Valley—Stock
Scioto Valley— 1st mort. (s. fund $13,000 per year).
2d mortgage (sinking fund, $5,000 per year)

1868
1869
1870

1,000

14*2

& Florida, 1st mortgage
do
do
2d mortgage
Savannah Griffin dN. Ala — 1st M. (guar. byC.of G.)
Southern Georgia

Seaboard d Roanoke—Stock
1st mortgage
Selma Rome d Dalton— 1st mortgage
2d mort., Alabama & Tenn. River RR
General mortgage for $5,000,000
:
8hamokin Valley d Potlsville—Stock
1st mortgage, gold, on road and lands
Sheboygan d Fond du Lac—1st mortgage.
1st mortgage extension
Shenango d Alleghany—1st mortgage

$....

Ill
101

Charleston—Stock

Savannah Florida d West.—Consolidated 1st
Say. Albany & Gulf RR. mortgage bonds

Bonds—Princi¬
immediate nottcq of any error discovered in tbese Tables. Due.
INTEREST OR DIVIDENDS.
pal/When

Size, or
Miles D.ate
Amount
Rate per
Par
of
of
Outstanding
Cent.
Road. Bonds Value.

;
C. & S.„ guar, by S. C
Funded int. bonds, S. & C. RR., guar, by S. Car..
1st mortgage, Savanndli & Charleston RR

Savannah d

1874

100 &c.
50
500 &c.

m

^

m

m

1876
1879

m

^

_

1,000
100

80
100
100

1874-569

$1,000,000

1851

1,000

....

50

28
28

i871

500 &c.

78*2
78*2

1864
1871

1,000

32
50
50

1869

500 &c.

1865

100
100 &c.

111,800
500,000

61*2

1874
1878
1868

M.,coup., s. f.

Somerset—1st mortgage,
South CaroUna—Stock
1st mortgage, sterling

gold

53
105

25

242

loan

i871

i868

1,000
1,000

500 <fcc.
500 &c.
100
100
Various
.

Stocks—Last

Payable, and by

Dividend.

Whom.

Charleston, 1st Nat.

Bk.

March 1,

1877

.

1,666,000
300,000
464,000
200,000
500,000

•

2,423,000
500,000
576,050

•

•

•

Co.

1,300,000
290,000

Phil.,Townsend,W.&Co.

1,299,600

210,000
838,500
241,000
869,450

56781
Shore Line (Conn.)—Stock
1st mortgage, construction bonds
Sioux City d Dakota—Dakota So., 1st
Sioux City & Pembina, 1st mortgage
Sioux City d Pacific—1st mortgage
2d mortgage (government subsidy)

Where

Sept. 1, 1899
New York.
M. & S.
7
Jan. 1. 1889
do
J. & J.
7
*
July, 1897
J. & J.
7
1879
N. Y., Perkins, L.& Post
7
Nov. 1, 1888
do
do
7
’ M. & N.
May 1. 1889
do
do
M. & N.
7
July 1, 1891
7
May 1, 1890
8 g. M. & N. N. Y. ,R. A. Lancaster&Co
M. & S. Del. & Hud. Canal Co. Sept. 1, 1924
6
Jan., 1880
Philadelphia, Office.
J. & J.
2*2
Jan. 1, 1896
J. & J. N.Y., Winslow, L. &
7
April 1, 1894
do
do
A. & 0.
7
Nov. 1, 1879
M. & N.
3*2
Aug., 1880
do
do
F. & A.
7
Jan. 1, 1872
New York, Office.
J. & J.
7
Jan. 1, 1864
do
do
J. & J.
8
April 1. 1887
do
do
A. & O.
7
Feb., 1880
F. & A. Philadelphia,Treasurer.
3
July, 1901
do
do
7 g. J. & J.
June. 1884
N. Y., (In default.)
J. & D.
7
October, 1896
do
do
A. & 0.
8
A. & O. N. Y., N.Bk. of Com’rce. April 1, 1889
7
Jam 5, 1880
J. & J. N. H., Nat. N. H.
3*2
Sept. 1, 1880
do
do
M. & S.
7
Feb. 1, 1894
New York.
7 g. F. & A.
June 1, 1908
do
J. & D.
7
Jan. 1, 1898
J. & J. N. Y. ,Nat. Park Bank.
6

3,000,000

‘

When

Payable

M.’&'S.

*6*

505,000

•

m

...

11
98
98
.80

51

AND BONDS.

RAILROAD STOCKS

2,000,000
750,000
850,000
874,500

Bank.

1,000,000
200,000
558,000
300,000

.

1,629,000
1,628,020

6
7 g.
1

5 g.

450,000

5,819,275

1,482,666

J.
J.

J.

<fc J. U.S. Treas., at

& J.

Q.-F.

& J.

maturity

Charleston,S.W.RR Bk
London.

Jan. 1,

1898

July, 1891
May, 1871
1878 to ’88

pany November 1,1870, at $100,000 net per annum. Chartered as New
Charleston.—Savannah, Ga., to Charleston, S. C., 106 Haven & New London Railroad; sold in foreclosure and reorganized
miles; Ashley River branches, 5 miles; total, 111 miles.
Formerly the under present title June 29, 1864. Dividends 3*2 in Jan. and 4 in July.
Charleston & Savannah Railroad; reorganized in 1876 under present Operations and earnings for five years past were as follows:
Div.
Gross
Net
Defaulted September, 1873, and
name, and opened March, 1870.
Passenger Freight (ton)
Earnings. Earnings. p. c.
since operated by a receiver. A decree of sale has been made. Cap¬
Mileage.
Years.
Miles. Mileage.
6

Savannah d

ital stock, $1,000,000.
leston, S. C.

C. P.

Mitchell, President and

Receiver, Char¬

Bainbridge, Ga., 237
Ga., 58
consolida¬
tion in 1865 of the Savannah Albany & Gulf Railroad and the Atlantic
& Gulf under the latter name. The Atlantic & Gulf Company made
default January 1,1877, and receivers were appointed in March, 1877.
sold in foreclosure of the second mortgage on Novembor 4,
The road
1879, subject to the consolidated mortgage and other prior liens
amounting to about $2,713,000. The present company has been organ¬
ized with
capital stock of $2,000,000. No reports of earnings have
a'\ Florida d Western.—Savannah, Ga., to
to Live Oak, Fla., 49 miles; to East Albany,
miles; other, 3 miles; total operated, 350 miles. This was a
S van

miles; branches:

was

a

250, 488, 608.)
Savannah Griffin d North Alabama.—Griffin, Ga., to Carrollton, Ga.,
63 miles. Operated in connection with Central Railroad of Georgia.
Capital stock, $812,678. In 1877-8 gross earnings were $52,465, and

been made for

several years.

(V. 29, p. 40,

50
50
50
50

10,264,523

9,684,933
8,213,330

7,870,049

1,520,602
1,473,634
1,265,575
1,363,500

$409,971' $127,786
379,571

108,083

342,374

49,869

317,978

101,539

6
6
6
6

-(V. 28, p. 40.)
Sioux

City d

Dakota.—The Dakota Southern

(Sioux City, la., to Yank¬

merged, with the Sioux City & Pembina,
Nov. 1, 1879. Both lines built in same
to construction. Gross earnings in 1879,
$184,170; net, $46,305. In February, 1880, the Chicago Milwaukee
&St. Paul leased this road. (V. 28, p. 120; V. 29, p. 277; V. 30, p. 168,

ton, Dakota, 61 miles,) was
as the Sioux City & Dakota,
interest, and surplus applied

Sioux

City d

Pacific.—Line of road from

Sioux City, la., to

Fremont,

Elkhorn & Missouri Valley Railroad,
net earnings, $20,709.
This
one of the subsidized
bonds has not been fully
Savannah d Memphis.—From Opelika, Ala., to Goodwater, Ala., 60
of Railroad Accounts reports no
miles. Opened in 1874. Receiver appointed November, 1878, in fore¬
net earnings subject to the payment of 5 per cent to the United States.
closure suit. Road to be sold May 3. Gross earnings for year ending
For the year ending June 30,1879, the gross earnings were $353,329
Juno 30,1878, $49,071; net earnings, $7,357. P. P. Dickenson, Presi¬
and net earnings, $99,120. The capital stock is $2,068,400, of whicll
dent, N. Y. City.
$169,000 is preferred, receiving a dividend ©f 7 per cent per annum.
Schenectady d Duanesburg.—From Quaker Street Junction, N. Y., to The balance sheet of the company June 30,1879, was as follows;
Assets.
Liabilities.
Schenectady, N. Y., 14 miles. Formerly Schenectady & Susquehanna
Road and equipment...$5,350,137
Railroad, and was foreclosed in 1873; reorganized and leased in per¬ United States bonds....$1,628,320
46,733
1,073,500 Material
petuity to the Delaware & Hudson Canal Company. Lease rental, Interest on bonds
Cash..
42,18&
First mortgage bonds.. 1,628,000
$30,000 per year, paying 6 per cent on bonds. Stock, $100,500.
Company’s bds. & stocks
5,000
Interest on bonds.......
50,115 Accounts receivable....
7,184
Schuylkill Valley.—Port Carbon to Reevesdale, Pa., 11 miles; branches, Bills payable
5,000 Due from United States. 102,427
10 miles; total, 21 miles. It is an old road, and was leased to the Phila¬ Pay-rolls and vouchers.
33,856 Deficit or debit (balance
delphia & Reading Railroad from September 1,1861, at an annual rental Accounts payable
87,426
to income one-half)... 1,020,949
of 5 per cent on the stock.. Operations are included in the Philadelphia Capital stock
2,068,400
&

Neb., 107 miles; leased—Fremont
51 miles; total line operated, 158 miles.
was
Pacific roads, but the interest on first mortgage
earned, and the United States Auditor

Reading reports.

Road
favor¬
$282,153; net earnings,

Valley.—Columbus, O., to Portsmouth, O., 100 miles.
opened in January, 1878, and the earnings for the year 1878 were

$6,574,618
Total
grant of about 60,000 acres.

Total

$6,574,618

(V. 27, p. 96, 253,
♦
374.)
able
new road. Gross earnings were
Somerset.—West Waterville, Me., to Anson, Me., 25 miles. An exten¬
t125,877. In 1879 gross27, p. 653;were $317,822. E. T. Mithoft',
ent, Columbus, O. (V. earnings Y. 28, p. 525.)
sion of 7 miles to Solon proposed. Capital stock, $377,573. Gross
Seaboard d Roanoke.—Line of road, Portsmouth, Va., to Weldon, N. C., earnings, 1877-8, $20,853; operating expenses and taxes, $15,400, net
80 miles. Road opened 1851. The company has paid dividends for a $5,453. Road is leased to Maine Central.
number of years. Of the stock, $1,055,400 is common, $200,000 is first
South Carolina
Charleston to Hamburg, S. C., 137 miles; branches to
preferred and $95,000 is second preferred. Net earnings in the year
Columbia, 68 miles, and to Camden, 38 miles; total main line and
ending March, 1871, $188,355. •
branches, 243 miles. This company was one of the prosperous loads of
Selma Rome d Dalton.—From Selma, Ala., to Georgia State line. Sue
the South, but became embarrassed after 1873, and went into the hands
to Alabama & Tennessee River Railroad. The road was opened of a'receiver in September, 1877, at the suit of 2d mortgage bondholders;
June 1, 1870. Defaulted in 1871, and decree of foreclosure obtained
large part of this mortgage was hypothecated at 50 cents on the dollar
March 24,1874. The line in Georgia (65 miles) was sold November, 1874, to
floating debt. A plan of reorganization to save foreclosure has
and reorganized as Georgia Southern. The line in Alabama is to be been made in 1880, which embraces the following points1The April*
sold June 14, 1880, and the Court held the Alabama & Tennessee 1880, and all preceding coupons on the second mortgage bonds, the
River mortgages a prior lien on this. The company took a land grant accrued interest to April 1,1880, on all floating debt, the principal of all
by act of Congress June 3, 1856, of 481,920 acres. A second mort¬ unsecured floating debt, and the principal and interest to April, 1880, of
gage for $4,000,000 was made. The stock was $3,750,000, and cost the non-mortgage bonds, are all to be funded into third mortgage nonof road put at $12,980,000. John Tucker, Receiver, Selma, Ala.
(V. cumulative seven per cent income bonds. The interest on the second
30, p. 299, 323, 375.)
mortgage bonds is to be reduced to three per cent for the year beginning
Shamokin Valley d Pottsville.—Line of road, Sunbury, Pa., to Mount April, 1880, four per cent for 1881, five per cent for 1882, six per cent
for 1883, and thereafter seven per cent; but if the railroad earns enough
Carmel, Pa., 27 miles; branch to Lancaster Colliery, 4 miles; total, 31 to
pay more than this on the second mortgage bonds, it shall pay it up to
miles. The road was leased February 27,1863, to the Northern Central
per cent. The principal of the secured floating debt is to be first
Railroad Company, with a guarantee of interest on the bonds and 6 per
reduced by the sale of all the hypothecated first mortgage bonds at par
cent per annum on the stock. The yearly reports will be found in the
and interest to the holders thereof, and the remainder is to be canceled
Chronicle with the reports of the Northern Central Railroad. Thomas
by the sale to the holders of said debt of a sufficient number of second
A. Scott, President, Philadelphia.
mortgage bonds (interest reduced as above) at eighty per cent of their
Sheboygan d Fond du Lac.—From Sheboygan to Princeton, Wis., 79 par value; the second mortgage bonds remaining to be canceled. An
miles. Road opened in 1872. The company has been in default since adjudication is to be obtained declaring all second mortgage bonds valid.
1873. In May, 1879, the president issued a circular to the bondholders, The stock to remain in the hands of trustees until seven per cent shall
saying that the only way to get the road out of difficulty was to make an have been paid on the income bonds, its voting power subject to instruc¬
extension of 58 miles, for which he proposed a surrender of old bonds tions from second mortgage bondholders. Earnings for five years past
Net
as follows:
Gross
and issue of new on certain terms. (See Y. 28, p. 467.) Stock was
Earnings.
Earnings.
$1,400,500. !On April 3, 1880, the road was sold in foreclosure, and
Miles.
$448,574
bought for $1,500,000 by M. L. Sykes of the Chicago & Northwestern. Years.
$1,229,302
243
478,684
A. G. Ruggles is President, Fond du Lac, Wis.
(V. 30. p. 375.)
1,126,437
243
426,910
243
1,020,664
243
Shenango d Alleghany.—Line of road, Shenango, Pa., to Brady’s Bend,
409,305
243
1,011,861
243
Pa., 95 miles; in operation, Shenango to Hilliard, Pa., 46 miles. The
243
road
leased to the Atlantic & Great Western, and “rental trust”
bonds were issued.
The company made default in 1879, but the Gross earnings October 1, 1878, to Jan. 31, 1880, were $1*546,501
October coupons were paid Feb. 21,1880. (V. 29, p. 408.)
operating expenses, V 30
$937,327; net earnings, $609,178. (V. 28, p. /555,
A3
Af»Q \
Shore Line (Conn.)—Line of road, New Haven, Conn., to New London,
Conn., 50 miles. Leased to New York and New Haven Railroad Com
Scioto

on

a

The company

has aland

Presi-

—

cessors

a

secure

seven

were

was




V

OlQ

r,

A3Q*

52

RAILROAD
Subscribers will confer

DESCRIPTION.
For

a

first page of tables.

AND

BONDS.

[Vol. XXX.

great favor by giving Immediate notice of
any error discovered In these Tables.

explanation of column headings, &c.,
on

STOCKS

see notes

Miles
Date Size, or
of
of
Par
Road. Bonds Value.

Amount

Outstanding

INTEREST OR DIVIDENDS.
Rate per When Where
Cent.
Payable

Pay'able, and by
,

Whom.

i
i

Stocks—Last
Dividend.

Sou th Ca rolina—( Con tin ucd)—
1st mortgage, dollar bonds (L)
2d mortgage (for $3,000,000)

-u

Domestic bonds (I)
Domestic bonds (K)
So. d No. Alabama—1st M., endorsed
by Alabama
Sterling rnort., s. fund, guar, by L. & N
Southern Central (X. 3 J—1st mortgage
2d mort. gold ($400,000 end. by
Leliigh V. RR.).
1st mortgage interest bonds
2d mortgage interest bonds
Southern Iowa d) Cedar Rapids— 1st mort.,
gold
Southern Minnesota—1st mortgage, construction...
South. Minnesota Extension, 1st
mortgage, guar.
Central of Minnesota, 1st mortgage
South. Pac.(Cal.)—1st mort.,gold.land
gr., cp.orreg.
Southern Pennsylvania—1st mortgage,
gold
Southwestern (Ga.)—Stock, guarant’d7 per annum
Company bonds, convertible into stock at par
Southwest Pennsylvania—Stock
1st mortgage

Spartanburg d Asheville—1st

242
242

1875

500
100

1,000
£200

$1,000
100 Ac.
210 Ac.
210 Ac.

1,000
1,000
500 Ac.

$1,051,500
1,206,500
1,067,500
63,500

391,000
5,075,040
1,500,000
600,000
584.500

42,000

1,500,000
3,332,000
1,200,000
579,000

29,520,000

/

100

Var.

1,000

1877

625,000
3,892,300
133,000
546,150

1,000

962,000

42

mortgage, gold.

1876
m

m

.

100 Ac.

100

a

1871

....

‘

...

Slate Line d Suitivaii—1st M., conv. (red’blc
aft.’88)
Staten Island— 1st mortgage

Summit Branch (Pa.)—Stock
1st mortgage bonds

$500

....

Springfield'd: Northeastern (Mass.)—Stock:..
Springfield d Northwestern—1st mortgage...
Spuyten Dvyvil d Port Morris—Stock

Sterling Mountain (N.Y.)—1st mortgage
Stockton d Cnecropolis—1st mort., (guar,
by C. P.)

1868
1872
1866
1868
1870
1873
I860
1872
1877
1877
1870
1868
1878

1878
....

2

1865
1875

•

100 Ac.
...

1,000
500 Ac.

1,000,000
989,000
200,000
300,000

350,000
500,000

50

4,010,350

1,000

1,000,000

....

1874

400,000

405,000

6
7
7
6

8 g.
6 g7
7
7
7
7
7
7
7
o
7

g.

g-

A
A
A
A
A
A
A
A
A
A

J.
A.
A.
J.
J.
M.
F.
M.
F.
M.
M.
J.
J.

J.
New York.
0.
do
O.
Charleston.
J.
do
J. N. Y., Drexcl, M. A Co.
N. London,
Baring Bros.
A. N. Y.,
Vermilye & Co.
S.
do
do
A.
do
do
S.
do
do
A N.
A J. N Y.,
Company’s Office.
A J.
do
do

....

g.
g-

3*2
7

3*2
7
7 g.

A. A 0. N. Y., C. P.
Huntington.
M. A S.
J. A I). Savannah,Cent.RR.
Ga.

Various

1878 to ’88
1, 1902
April, 1891
L880 and 1892
Jan. 1, 1890
Oct.

1903

Aug. 1, 1899

Mar. 1, 1882

Aug. 1, 1887
Sept. 1, 1887
May 1, 1900
1888

July 1, 1908

Jan.

1, 1898
April 1, 1905

Mar. 1. 1900
Dec, 20. 1879

Macon.
1882
1
Sept, 30,*1879
F. A A. Pbila. and
Greenshurg. Feb., 1917
J. A J. OliarlestonA New York.
Jan. 1, 1897
.

.

;

«

.

.

7 g.

F. A A.

7
7
7
5
3
7

J.

A

J.
J.
F.
J.

A J.
A J.
A A.

Feb! *1, 1901

J. N. Y., Union Trust Co.

Jan.

1, 1899

*

A J.

New York.
N Y., Central Pacific.
Phila.,233 So. 4th St.
do
do

1885'
January. 1905

Feb. 16,1876
Jan. 1, 1904

South d

%

North Alabama.—Decatur,
Ala., to
miles, with a branch of 7 miles from Elmore to Montgomery, Ala,, 183- years from January', 1880, and by the terms of the lease “if a railroad
Wetumpka; the branch is not completed in five
was opened for traffic in
June, 1878. The road is controlled and
years from that date, so that there is a connec¬
by the. Louisville & Nashville Railroad Company, which owns a operated tion of the Southern Pacific Railroad of California with the Eastern
sys¬
tem of railroads on what is known as
majority
of the capital stock and all the second
the thirty-second parallel line,
mortgage bonds ($1,000,000). loase shall be extended until
the
These second mortgage bonds were issued to the
such connection is
Louisville & Nashville extension does not
made, provided such
exceed five years longer,
Company in payment for advances. 500,000 acres of land in
or ten years in all,” from
Alabama, January', 1880. By the terms of the
largely mineral, have been transferred to the L. & N.
Company. Com¬ paid during the continuance of this lease, “the net rental agreed to be
mon stock, $1,461,767;
lease and any extension thereof,
preferred stock, $2,000,000. In 1878-9
gross shall bo $250 a month, or
earnings were $873,196; operating expenses, $558,610;
$3,000
net, $314,586; about 55*4 miles, equal to about a year per mile,” (being, at present, on
deficit to Louisville & Nashville
$1,650,000 annual rental), “ and if, for
Company, $100,285.
any cause, it shall be reduced by mutual consent, the
Southern Central (N. Y.)—Fairhaven, N.
rental shall be at
least sufficient to pay interest on
Y., to Pennsylvania State
bonds.” In 1878 the gross
line, 114 miles. Road forms an extension into New York
earnings
State for were $4,327,086 and net
Lehigh Valley Railroad, which company endorses
earnings $2,155,704. In 1879 the net earnings
$400,000 of second were $362,761 on northern division and
mortgage bonds. Capital stock paid in is $1,790,234. Gross
$1,635,554 rental on southern
earnings in division; total, $1,998,316. (Vol. 30, p. 93.)
1877-8, $462,906; operating expenses and
taxes, $320,056; net earn¬
ings, $142,850. In 1878-9 gross earnings were
Southern Pennsylvania
Railway d Mining Company— South Pennsyl¬
$419,942; operating vania Junction
expenses, $317,670; net, $102,272. (V. 28, p. 351
to Richmond, Pa., 21
; V. 29, p. 629.) '
mile’s, with a branch from Rich¬
mond to Ore Banks, 2 miles. Leased
Southern Iowa d]Ced. Rapids.—In
for 199 y'ears from March
progress. Ottumwa to Cedar Rapids,la. to Cumberland
1, 1870,
Valley Railroad Company. Road originally organized
Southern Minnesota.—IAna of road, Grand
Crossing, Minn., to Flan- under the name of Southern Pennsylvania Iron &
Railroad Company,
dreau, D. T., 306 miles; Mankato Division, Wells to
Mankato, 40 miles; but was sold by foreclosure of second mortgage
total, 346 miles in March, 1880. Organized as Southern
December, 1872, and
reorganized under present name. Capital
Minnesota and
opened December, 1870, Miss. River to
stock, $800,000.
Re¬
Southwestern (Georgia).—This road was
ceiver appointed November 23,1872. RoadWinnebago, 168 miles.
sold on foreclosure of second
formed November 1,1868,
consolidation of the Southwestern Railroad and
bymortgage February, 1877, and reorganized with this name.
the Muscogee Railroad
Capital It runs from Macon, Ga., to Eufaula, 144
Stock, $1,984,200, of which $1,252,000 were issued to
miles, and has 166*2 njiles of
holders of equip¬ branches, the main one
ment bonds and $532,000 for interest on
being from Fort Valley to Columbus, 72 miles,
same.
The land grant was A lease was made
about 370,000 acres. A
August 1, 1869, to the Central Railroad of
controlling interest in the stock was purchased which assumes the
Georgia,
In 1879 by the Chicago Milwaukee A St. Paul
liabilities and guarantees 7 per cent
on the stock,
Co., and the president but 8 per cent is to be
ol‘the latter company remarks in his
paid if 10 per cent is paid on Central stock. Gross
report that “the bonds which have
been issued by the extension
earnings in 1878-9, $751,575;
operating expenses and taxes, $413,952;
company, at the rate of $9,000 to $12,000
net, $307,623; rental paid by lessee,
per mile, have been cashed by the Chicago Milwaukee A St.
$352,631; loss to lessee, $45,032.
Paul Co. to
aid in the construction of said
Southwest Pennsylvania—
extensions, and a further amount will be
Greeusburg, Pa., to Olyphant, P., 42 miles.
cashed to complete the lines to Sioux Falls.
The Southern Minnesota Opened April 1, 1873, and leased to Pennsylvania
Railroad, which oper¬
Railroad and the extensions, together with the
Central Minnesota road ates it at cost, paying net earnings as rental. In 1878
from Wells to Mankato, continue to be
gross earnings
operated- by an independent or¬ were $338,707, and net earnings $183,409. Interest on bonds and 7
per
ganization, and the receipts and expenses are not embraced in
cent dividends on stock were
paid out of net earnings of 1879.
the oper
ations or accounts of the Chic. Mil. A St.
Paul, and it is not impossible
Spartanburg d Asheville— Road, as projected, extends from
that such will continue to be the case until the
Spartan¬
year 1883, when the road burg, S. C., to Asheville,
will pass into the control of the
stockholders in the interest of the Chic. to Hendersonville, are inN.:C., 67 miles, or which 48 miles, Spartanburg
operation. Placed in hands of receiver Novem¬
Mil. A St. Paul. A traffic agreement between
the St. Paul Co. and the ber, 1878. Capital
stock, $1,000,000.
Southern Minnesota Co. exists, and will be
continued until the road is
Springfield d Northeastern.—Springfield, Mass., to
finally absorbed into the lines of the former company.” The
Athol, Mass., 48*2
extension of miles. Organized as Athol
the road
& Enfield, hut name
changed to Springfield
Athol A Northeastern, when road was
Extension
extended to Springfield. Sold in
foreclosure in 1879 and present
company
company organized. Gross earnings,
Southern Minnesota; also has a land
1877-8, $91,924, and net, $21,979. In 1879 the
grant of about 180,000 acres. about
gross earnings were
The Central Minnesota was
$100,000 and net earnings $28,000. Willis
purchased in 1880. (See annual
Phelps, President,
repqrt, V. Springfield, Mass.
28, p. 451.)
There are yet out $220,000 old first
mortgage 7s (pink),
due 1884. Net earnings in 1878,
SpHngfield d Northwestern— Springfield, Ill., to Havana, Ill.,45 miles.
$311,152, against $296,666 in 1877.
—(Vol. 28, p. 451 ; V. 29,p. 383, 452; V. 30,
Opened in 1873. Road as projected is 150 miles
p. 193, 409.)
to Rock Island, HL
Southern Pacific of California.—Rond
Company' became involved, and was placed in the hands of a
projected and in operation March, Capital stock
receiver.
1880: San Francisco, Cal., to
paid in was $180,000. In 1877-8
Soledad, 143 miles; Carnadero to Tres
gross earnings were
$53,800 and net $3,493.
Pinos, 18 miles; Soledad to Posa Junction
(Lcrdo), 160 miles; Huron to
Yuma, 529 miles; Los Angeles to
Spuyten Duyvel d Port Morris.—Road is 6 miles in
Wilmington, 22 miles; Mohave Junc¬
tion to Colorado
length and connects
River (estimated), 278 miles.
712 miles are com¬
pleted and in operation—viz., From San Francisco to
Soledad, 143
miles; Carnadero to Tres Pinos, 18 miles; Huron
to Yuma, 529 miles;
Los Angeles to Wilmington, 22 miles.
These 712 miles of railroad

the New York Central A Hudson with
the New York A Harlem. Leased
to New York Central November
1, 1871. Rental is 7 per cent on
capital
stock of $989,000. Operations are
included in lessee’s returns.
State Line d
Sullivan—Monroeton, Pa., to Berenice, Pa., 21 miles.
Originally organized as Sullivan & Erie Coal A RR. Co., which was sold in
foreclosure Oct. 14, 1874, and a new
company formed December 2,1874,
under the present name.
Stock, $1,000,000 (par $50). The
mortgage
covers 5,000 acres coal lands.
In 1878
gross earnings were $40,867,
and net earnings,
$29,673.

are
divided into the northern and southern
divisions. The northern divi¬
runs from San Francisco to
Soledad, and from Carnadero to Tres
Pinos, in all 161 miles. The southern division
Yuma, with a branch road from Los Angeles extends from Huron to
to Wilmington,
in all
551 miles, and is intersected at
Goshen by the San
Joaquin Branch
of the Central Pacific
Railroad, by which it reaches San Francisco
and the main line of Central
Staten Island.—Local road on
Pacific. The Southern Pacific is
Staten Island, Stapleton to
a con¬
Tottensville,
solidation of date October 12,
1870, of the Southern Pacific, Santa Clara 13 miles. Road was purchased by present owners in 1874, and Is
A Pajaro Valley, California Southern and
operated in connection with Staten Island
the San Francisco A San
Ferry Company'. Capital
Jose
railroads. The Southern Pacific Branch
Railroad was brought into the stock, $210,000. Earnings, 1877-8—from ferry', $185,682; from rail¬
consolidation August 19, 1873, and on
road, $67,339; total, $253,011;
December 18, 1874, the Los
operating
Angeles A San Pedro Railroad was merged
$47,234. Interest, $23,093 ; surplus, $24,141.expenses, $205,777; net,
in the consolidated
It is contemplated that the Southern
company.
Sterling Mountain (N. Y.)—Road runs from
Pacific will form part of a
line to El Paso, and there meet the
through Erie Railway to Lakeville
Sterling Junction on the
Texas Pacific. At its
8 miles. Gross earnings,
terminus at
Yuma it connects with the Southern
1877-8, $17,820;
Pacific Railroad of
expenses' and taxes, $16,132; net, $1,688.
Arizona, an
Capital stock, $80,000.
independent but closely affiliated
Stockton d Coppcropolis — Present
company, which during 1879
was built and
operated to Casa Grande, a distance of
company is a consolidation, made
about 182*2 miles, November 17, 1877, of the Stockton &
and w.»s! completed I April,
Coppcropolis and the Stockton &
1880, beyond Tucson, 85 miles further Visalia. Line of
east
The bonds above are in series
road, Stockton to Oakdale, Cal., with a branch of 12
A, B, C and D, of which miles. Leased to Central
Pacific Railroad Company for
thirty years
there are from December 30, 1874. By' the terms of tho lease
the lesseo agrees to
and G
of pay' principal and interest of the bonds.
Capital stock, $234,500. The
construction. Land company previously' made default
grant is 12,830 acres per mile, and
July', 1874, and the $1,000,000 of
proceeds of sales go to
old bonds were
The total grant is estimated at
pay bonds
exchanged for the present issue guaranteed,
11,000,000 acres, of which 7,000,000
pertain to road now built.
Summit Branch (Pa.)— This
Besides these sales a
sinking fund of Railroad, which extends from company operates the Lykens Valley
$100,000 per annum goes into operation in
1882.
Millersburg, Pa., to Williamstowu, and it
Stock paid in is has a small
$36,763,900. The Central Pacific Railroad
branch of its own to Summit
Mines, Si.of a mile. Traffic is
Of t-e soitliem division of this road for a Company has taken a lease almost exclusively coal. Gross
earnings in 1878, $131,412; operating
period of not less than five
expenses, including

sion




r

rents, $118,440; net, $12,972.

Subscribers will confer a

great favor by giving
8

of tables.

first page

Suspension Bridge d Erie
1st mortgage

2d mortgage (now first)
Consol, mortgage (guar.

Y.—Stock

81

D. L. & W.)

Syracuse Chenango d New York—Funded debt.
Syracuse Geneva c(• Corning—1st mortgage
Terre Haute d Indianapolis—Stock
1st mortgage, guar
Bonds ot 1873 (for $1,600,000)
Tetre Haute d Logansport.—Stock
1st mortgage

2d mort., consol.,

1,000
1,000

1869
1873

1,000

1879
1875
1875
1875
1875

1880
1880
1852
1876
....

1,000
1,000
1,000

1,000
1,000

-

•

»

»

....

100

1874

1,000

1878

Troy City.

1S76

.

1,825
1,038

...

1866-9

1,000
1,000
100

1,000

Junction.—East Buffalo Junction to Niagara
opened January, 1871.
Co. at 30 per

(V. 28, p. 44.)
Coming.—Corning, N. Y., to Geneva, N. Y., 57*4
miles. This road was opened December 10, 1877, and is leased to the
Fall Brook Coal Company. Stock is $1,152,500. In 1878-9 gross earn
mgs were $349,966; operating expenses, $223,546; net, $126,420
rental paid by lessee, $108,033; profit to lessee, $18,387.
(V. 29, p
$72,278; net, $3,764.

Syracuse Geneva d

629.),

Indianapolis— From Indianapolis to Illinois State Line
miles, with coal branches, 34 miles; total, 114 miles. The road was
opened in 1852 (as Terre Haute & Richmond), mid has been one of the
Terre Haute d

80

best of Western roads. The company leases and operates the St. Louis
Vandalia & Terre Haute Road on joint account with the Pittsburg
Cincinnati & St. Louis Railroad, at 30 per cent of gross earnings, but

guarantees the first and second mortgage
past were as follows:

bonds. Earnings for five years
Net

Gross

Earnings.
$1,092,007
1,076,965
1,026,028
*893,792

Div.

Earnings.

p. c.
10
10
6
8

$371,713
355,955
344,403
*366,666

1878-9
*

Bonds—Prtnd

Eleven months only.

Logansport, Ind., to
which

Terre Haute d Logansport.—.Road extends from
Rockville. Formerly Logansport Craw fords ville & Southwestern,
was sold in foreclosure
September 10, 1879, and reorganized

under

present name. Rockville extension of the Evansville & Terre Haute
Railroad, Rockville to Terre Haute, is operated under lease. Leased by
Terre Haute & Indianapolis Railroad
and first mortgage bonds guaranteed

for 25 per cent of gross earnings,
by that company. Gross earnings,

J.
J.
J.
A.
F.

&
&
&
&
&

pal,When Due.

Payable, and by
Whom.

J. N. Y. Lake Erie & West.
D. N.Y., D L.& W.RR. Co.
do
do
D.
’ do
do
O.
A. 'Syracuse Savings Bank.

1
J. & J.
A. & O.

N.Y.,Farmers L.& T.Co.
do

do

Stocks— Last

Dividend.

Feb., 1880 '
June, 1887
Oct. 1, 1906
Aug. 1, 1907
Nov. 15, 1905
Feb. 2, 1880
July. 1879
1893

'

.

1910
& J. N.Y., Farmers’ L.& T.Co.
& A. New York, Co.’s Office. Aug. 1, 1905
& S. Pliila., N.York &London March 1, 1905
Juno 1, 1905
do
do
<fc D.
July. New York& Philad’phia Jan. 1, 1915

6
7
6 g.
6 g.
7

(?)
239,500
125,000
265,000

1,609,000
1,384,000
650,000

F. & A. New York &
M. & N.

2
7
7

7,921,000

J.
F.
M.
J.

6 g.
7
7
7

500|000

1,050,000
3,481,000
7,619,000

F. <fc A. Troy, Company’s Office.
J. & J. N. Y., Nat. B’k of Com.
do
do
M. & S.

136,000

1,342,600

■

,

.

„

Feb.

1930
1882
1896
1905

1,
May 1,
Nov. 1,
Oct. 1,

Feb. 2, 1880
1894

1882

,*

....

Phila., 233 South 4th. Feb. 15,1880
1906
& J. Rondout,
Co.’s Office.
-

J.
J.

do
do
New York and Boston.
do
do
& J.
& J.

Q.-J.

1^2

50,762,300
27,231,000

Philad’phia

....

6
3 l3
7
7

1,000,000

...

not less than $105,000
stock
297 shares.
Syracuse Binghampton <& New York.—From Geddes, N. Y., to Bin
hampton, N. Y., 81 miles. Chartered as Syracuse & Binghampton and
opened October 23, 1854; foreclosed and reorganized April 30, 1857,
and leased to Delaware Lackawanna & Western.
In the last year
reported—ending September 30,1878, the gross earnings were $610,o32
expenses, $385,908; net earnings, $224,624; interest on bonds, $141,
400 ; dividends (3 per cent), $201,520. (V. 27, p. 568.)
Syracuse Chenango d New York.—Syracuse, N. Y., to Earlville, N. Y.
43^2 miles. The Syracuse & Chenango Valley Railroad was sold in fore¬
closure and a new company organized March 14, 1873, under the name
of Syracuse & Chenango Railroad. April 15,1877, road was again sold
in foreclosure and present company organized, which also became
embarrassed and passed into the hands of Mr. James J. Belden, January
1879, as receiver. Capital stock, $801,400. In 1878-9 gross earnings

1876-7.

800,000
800,000
500,000

680,000

2%
60
74

j

road and equipment

Mites.
114
114
114
114

l,988jl50

500 &c.

'

Falls and Suspension Bridge, 23 H miles. Road
It is leased to New York Lake Erie & Western Railroad
cent of gross receipts, which are guaranteed to be
exoopt
per annum. Lessees own all

Years.

1874-596

7
7
2
7
7
7
7
4
7
7

1,547,662

53
35

Troy & Boston— Stock
1st mortgage, consolidated
New mortgage bonds (for $1,000,000)
Troy Union—1st mortgage, guaranteed,
Tyrone d Clearfield—Stock
Ulster & Delaioare—1st mortgage
2d mortgage income bonds

Payable

1,500,000

1,000

Where

When

Cent.

270,000
1,750,000
261,400
1,000,000

50 &c.
50

....

Consolidated mortgage....
Extension bonds.
Toledo Canada Southern & Detroit—Stock

were

discovered in tbese Tables,

Rate pet

2,004,tfOO

100

1875

600
54
54

Rio Grande Division
Tioga RR— 1st mortgage..

Suspension Bridge & Erie

1875
1867
1876
1877

Amount

Outstanding

$500,000
1,000.000

$....
1,000

50

444
444
444

1st mortgage on

Union Pacific—Stock
1st mortgage, gold, on

48
57
113
73

93
106

gold, coup. (E. Div.).

Convertible bonds

5a

BONDS.

immediate notice of any error

Date Size, or
Par
of
Of
Road. Bonds Value.

23
23
81
81

Junction—Stock

Syracuse Binghampton d N.

AND

INTEREST OR DIVIDENDS

DESCRIPTION.
on

STOCKS

RAILROAD

April, 1880.]

J.

6 g.

April 1, 1880
1896 to 1899

Freight (ton)
Gross
Net
Mileage.
Earnings. Earnings.
7,458,450
14,217,234 $1,183,313 $393,509
320
10,110,024
1.564,625
672,743
28,006,762
325
43,369,881
691,007
: 415
13,886,499
2,043,453
15,004,800
51,022,434
2,331,310
882,871
444
11,651,044
50,723,818
2,136,143
738,629
444
171, 299, 358, 564, 621, 632, 650; V. 30, p. 17, 43,118, 274,
Passenger

Miles.

Years.

1876 -7

—(V. 29, p.
358, 409.)

Mileage.

Tioga.—Arnot, Pa., to State line New

York, 44 miles; branoli, Blosa-

burg, Pa., to Moms’Run, Pa., 4 miles; leased, Elmira State Line Rail¬
road, State line Now York to N. C. Railway Junction, 7 miles; total, 55
miles. The stock is $580,900. In 1878 gross earnings were $325,466
and net earnings, $145,547; dividends paid, 8 per cent on stock. Net
earnings have been as follows: In 1878, $145,547; 1877, $126,606;
1876, $107,775; 1875, $114,769. F. N. Drake, President, Corning, N. Y.

Canada Southern d Detroit.—Toledo, Ohio, to Detroit (G.
Junction), Mich., 55 miles. Road opened September 1, 1873. In
1879 gross earnings were $416,544; operating expenses, $161,498;
deficit, $44,954. The bonds were exchanged into Canada Southern first
mortgage bonds at 70 per cent of face value.
Toledo

T.

Troij d Boston.—From

Troy, N. Y., to

Vermont State line, 35 miles;

Southern Vermont (leased), 6 miles; Troy & Boston (leased), to North
Adams, Mass., 7 miles; Troy & Bennington (leased), 5 miles; total oper¬
ated, 53 miles. Last annual report in the Chronicle, V. 30, p. 168.
Net earnings in 1878-79, $288,519; interest, $190,836; rentals. $27,537;
hire of cars, $8,153.
Total charges, $226,526. Balance to surplus,
$01,992.
The floating debt Sept. 30, 1879, was $380,648, against
$436,022 in 1878. Operations and earnings for five years past were as
follows:

Years.
Miles.
53
1874-5....
53
1875-6....
53
1876-7....
53
1877-8....
53
1878-9....

Passenger
Mileage.

4,696,351
5,605,546
6,660,492
6,492,6G0

Freight (ton)

Mileage.

6,724,079
13,908,977
10,853,882

23,829,494

Gross

Net

Earnings.

$524,276

Earnings.
$247,643

566,540
560,764
560,344
593,896

Div’d

288,519

268,206
276,614
274,747

p.

ct.
4
4
2

(V. 28, p. 119; V. 30, p. 168.)

Troy Union.—A small road in Troy City, extending from Hoosick Street
Bridge to Troy & Greenbush RR.,‘ 214 miles. Owned jointly by several
roads. Capital stock, $30,000. Bonds were issued by the City of Troy,
and

are

guaranteed by the companies

interested.

44 miles:
1872. It

Tijrone d Clearfield.—East Tyrone, Pa., to Curwensville, Pa.,
branches, 17 miles; total, 61 miles.
This company was organized
April 1, 1867, after sale in foreclosure.
Road completed in
was leased to the Pennsylvania Railroad in 1878; rental was $73,500.
G. B. Roberts, President, Philadelphia, Pa.

January to July, 1879, $113,062. (V. 29, p. 252, 277, 459, 564.)
Ulster d Delaware— Rondout (Hudson River), N. Y., to Stamford, N.Y.,
Texas d New Orleans (of 1874).—Houston, Tex., to Orange (Sabine
River), 108 miles. This was a reorganization, 1874, of the old Texas & 74 miles. This was tlie Rondout & Oswego in 1876; reorganized May
28,1872,
New Orleans Railroad. It will soon be extended, completing an all-rail
route from New Orleans to Houston. The stock is $3,000,000. Gross May 1,
earnings in 1878 were $220,137; net, $94,284. John T. Terry, Presi¬ the gross
is President, Rondout, N. Y.
dent, New York, N. Y.
Texas d Pacific.— Line of road, Marshall to Fort Worth, Texas, 180
Union Pacific Railway.—Tins was a consolidation, January 24, 1880,.
miles; Marshall to Shreveport, La., 40 miles; Marshall to Texarkana of tlio Union Pacific Railroad, tlie Kansas Pacific and Denver Pacific,
Junction, 69 miles; Texarkana to Sherman, Texas, 155 miles. Total made under authority of the acts of Congress of July 1, 1862 and
length, 444 miles. It was built under act of Congress of March 3,1871, July 2, 1864. New stock was issued for the old stock of the three comand other acts in 1872 to’74, and the laws of Texas. This company suc¬
pauies, but their bonds remained unchanged. (See Chronicle, V. 30, p.
ceeded to the right of the Memphis El Paso & Pacific Railroad and other
118.) The Union Pacific was from Omaha, Neb., to Ogden, Utah, 1,034
companies. By a contract made in January, 1880, with Pacific Railway miles; bridge and approaches to Council Bluffs, 3 miles; Ogden to
Improvement Company, the road is to be extended to El Paso on the Central Pacific Junction, 5 miles; total, 1,042 miles. The roads consoli¬
Rio Grande, about 600 miles, to meet the Southern Pacific of California, dated were as follows: Union Pacific Railroad—Council Bluffs to Ogden*
at $20,000 in bonds and $20,000 in stock per mile of road, and the
1,042 miles; Kansas Pacific Railway—Kansas City to Denver, 639 miloa,
work completed by January 1,1883.
(See Chronicle, V. 29, p. 650.) Wyandotte Branch, 2 miles, Leavenworth Branch, 34 miles, Enterprise
The stock authorized is $50,000,000, and issued $7,706,000, or which

Branch, 2 miles, total, 677 miles; Denver Pacific—Denver to Cheyenne*
1, 1880. Stock may be issued 106 miles; total, 1,825 miles. Branch roads were owned in part, or con¬
State of Texas the company trolled by the new corporation, to the extent of 1,597 miles. The company*
has already received 4,851,702 acres of land, There were also 1,000 under acts of
Congress above-named, took a land grant of 12,800 acres
certificates for 640,000 acres deposited in trust for certain foreign claim¬
per mile, estimated at a total of 12,083,227 acres, and a subsidy in U.
ants. The railroad lands in Texas, however, do not lie adjacent to the 8. bonds of
$27,236,512. The interest and principal of this loan is to
line of the roads owning them. Of the land, 3,074,378 acres had been be
paid according to tlie “ Thurman Act,” which requires 25 per oenft
suryeyed and located to May 31,1878, of which 36,529 acres are east of of the net earnings, after deducting interest on the first mortgage
Fort Worth, 148,801 acres between Fort Worth and the 100th meridian
bonds, to be paid annually to the Government as follows: First—
and 2.889,048 acres west of the 100th meridian. The land grant by
Applied directly to interest account, one-half of Government earnings
acts or Congress were 20 sections per mile in California and 40 sections
Second—To be placed in the sinking fund—tlie other half of the Goveratper mile in the Territories between Texas and California. The acts of rnent earnings; five per cent of net earnings, after deducting interest on
Congress in regard to this road made conditions as to time of construc¬ first mortgage bonds; so much of $850,000 as may be necessary to
tion, &c., whicli have not apparently been fulfilled; but the main pro¬ make 25 per cent of net earnings. The anuual report for 1879 was pub¬
vision for its completion before July 1, 1882, may be complied with. lished in V. 0. p. 270. This company’s reports have not been accom¬
The last annual report was published in the Chronicle of Sept. 20,
panied by a balance sheet, but in the report of the U. S. Auditor of Baft-,
1879, on page 299. Operations and earnings for five years past weie road Accounts, the following is given as of June 30, 1879:

61,734 shares are held in trust till October
redemption of certificates.
From the

in

as

follows:




•

54

KAILROAD
Subscribers will confer

a

STOCKS

AND

BONDS.

great favor by giving Immediate notice of any error discovered In tbese
Tables.

DESCRIPTION.
Miles
For

explanation of column headings, &c.,
on first page of tables.

Date

of

of

see notes

Size,

Amount

Outstanding

1866-9 $1,000

$27,236,512

1874

....

....

....

....

....

1867-9
1,000
1871
£200
1879
1,000
1869
1,000
1879
1,000
1865
1,000
1866
1,000
1865-7
1869
1,000
1866
1,000
1866
50 &c.
1870
250 &c.
1871
1,000
1866
1,000
’66-7-8
1,000
....

1871
1871

....

....

....

.

.

.

.

payable

1,179,021
* 555,953
36,762,300

Dividends

payable
Capital stock

9,062,038

.

....

...

ASSETS.

1,000

$

Road and equipment ..119,758,664
Cash
939,302
Co.’s bonds and stock..
246,594
Other “
“
f 6,973,847
Bills receivable
54,979
U.
S.
transportation

withheld
Accounts receivable...

8,676,979

2,395,138
1,313,880

Operating department.

Land cash & land notes

140,359,386

4,565,387
1,957,792

Land expenses

Balance,deficit or debit
to income account...

*

....

y

1870

138,811,589

Land sales

....

....

1862
1868

..

147,873,627

991,061

147,873,627

Including payments to be made July 1,1879

i The securities held six months later, at close of the
year
amounted to $7,900,000 bonds and $8,669,400

1879,

stocks, given in the
report as follows: Bonds—-Colorado Central, $2,413,000; Utah Southern
and extension, $900,000; Utah & Northern, $2,722,000; Omaha &
Republican Valley, $900,000; Summit County, $134,500; St. Louis
Council Bluffs & Omaha, $19,500; Wasatch & Jordan
Valley, $10,000;
Omaha Bridge bonds, $5,000; Omaha Niobrara & Black
Hills, $480,000;
Utah Western, $16,000; Marysville & Blue Valley,
$300,000. Stocks—
Colorado Central, $3,759,200; Utah Southern,
$837,000; Utah Central,
$530,000; Utah Northern, $2,330,000; Summit County, $338,100;
Union Pacific, $275,100; Omaha & Republican
Valley, $450,000; Occi¬

dental & Oriental Steamship Co , $150,000.
The account of the company with the United States on June
30, 1879,
showed a balance of about $560,000 due the Government
taking the Post
Office Department allowance for mail transportation. .
The land department reports the
following sales since 1869 :
Number of
Acres.

1869
1870

1871

1872
1873
1874
1875
1876
1877

Av. Price
per Acre.

128,825*28
164,058*32
206,605*97
172,108*67
177,083*50

Years.

$4 55 Lj
4 38hs
3 85^
4
5
4
3
3
4
4
4

128,696*21
69,015*87
318,903*47
243,337*43

1878....;
1879

1,956,349*41

Amount.

$586,808
717,757
795,557
755,430
983,030
1,099,407
409,916
389,773
343,768
1,557,082
1,007,855

39

55
66
66
02
98
88

14iio

$4 42

29
14

53
94

33
21
10
46
02
32
63

$8,648,447 97

Of the Union Pacific collateral trust bonds, the issue is limited to 80
per
cent of the following bonds: Omaha & Republican
Valley RR, $850,000;
Colorado Central Railroad bonds, $2,526,000; Utah Northern
Railroad,
about $3,480,000; total, $6,856,000. The collateral trust
bonds are a
direct obligation of the Union Pacific Company, and have as their
security
the first mortgage
bonds of the roads named pledged with the trustees.
The excess of interest collected on hypothecated
bonds—say $22,000 per
year—forms a sinking fund to reduce the principal.
The income
account was as below, but no explanation is given of the cost of
the
immense amount of stocks and bonds owned, which on their
par value
are as

above, $16,569,400.

Net earnings..
Add interest collected
Total

$7,725,574

*

on

investment securities

423,014

receipts

$8,148,588

Disbursements—
Interest on bonds
Dividends, 6 per cent

.'

$3,390,595
2,204,700
207,444
1,149,688

Sinking funds
Government earnings retained
Total deductions from

earnings

$6,952,427
$1,196,161

Surplus
Operations and earnings for five
Tears. Miles.
1875.. 1,042
1876.. 1,042

1877.. 1,042
1878.. 1,042
1879.-. 1,042

Passenger
Mileage.
132,591,343
128,032,924

years

past

were as

Freight (ton)

Gross

Mileage.

follows:
Net

Div.

Earnings, p.ct.
269,414,989 $11,993,832 $7,011,784 3hj
292,002,076
12,886,858
7,618,647 8
107,833,371 334,644,870
12,473,203
7,199,782 8 '
96,304,250 366,014,080
13,121,272
7,744,686 5^
436,054,149
13,201,077
7,725,574 6

The Kansas Pacific extends from Kansas
City, MoJ, to Denver, Col.,
4>39 miles, with Leavenworth Branch, Lawuence ,to




Payable

6
8
7
8 g.

2,121,000

3,632,000

6
7 g.
6 g.
6 g.

527,000

-

8,450,000
2,240,000
4,063,000
6,303,000
6,379,000
492,000
1,124,150
1,460,000
350,000
1,600,000

187965.

6
6
6
7
7
7
7
6
6

1,600,000
20,190,400
5,669,000
2,000,000
1,846,000

'

g.

g.

g.
g.
g-

J.

&
&
&
&
&
&
&
&
&

M.
A.
A.
J.
M.
M.
F.

J.

Where

Payable, and by

pal/When Due.

Whom.

Stocks—Last
Dividend.

J. U.8. Treas., at maturity.
S. New York and Boston.
O. New York and Boston.

Sept. 1, 1893

O. London, L. & 8. Fr. Bk.
J. N. Y., Union Trust Co.
N. N. Y., Bk. of Commerce.
N.
do
do
A.
do
do
D.
do
do

April,
July 1,
May 1,
May 1,
Aug. 1,
June 1,

1896 to 1899
1887

1896
19081899
1919
1895
1896

Payable *2 by transportation.
1895 to ’97
M. & N. N. Y., Lond. & Frankf’t.
May 1, 1899
M. & N. N. Y., Bk of Commerce. Jan
1, 1896
M. & S.
do
do
July 1, 1916
J. & J. N. Y., Lond. & Frankf’t. July 1, 1880
M. & 8.
New York.
Sept., 1886
M. & N. N. Y., Company’s Office. May 1, 1895
U.S. Treas., at maturity. 1896,’97, ’98
Q.-J. Phila. and N. Y. Offices. April 10, 1880
M. & S.
Mcli. 1, 1901
Philadelphia, Office.
A. & O.
do
do
Oct. 1, 1894
M. & S.
London.
Mch. 1, 1894
M. & 8,.
do
Mch. 1, 1894
F. & A.
Feb. 1, 1888
Philadelphia.
F. & A.
London.
1880
F. & A.
Feb. 1, 1883
Philadelphia Office.
J. & D.
Jan. 1, 1889
Princeton, N. J.
M. & N.
Philadelphia Offic9.
Nov. 1, 1889*
A. & O. N. Y., B’k of Commerce.
Overdue.
12 p.c., 1878-0
Q.-J.
& J.
J.
Salt Lake City.
Jah. 1, 1890
....

6g.
6
6
6
6
6
6
6
6
7
3
6

119,548
1,700,000
866,000
5,000,000
100,000
1,500,000
1,000,000

g.
g.

g.

g.

miles.

It was organized as “ Leavenworth Pawnee & Western” in
1861,
changed to “ Union Pacific, Eastern Division,” June 6, 1863, and to“Kansas Pacific” on March 3,1869. The Pacific Railroad acts of 1862
and 1864 applied to this road, and
gave it a subsidy of $6,303,000 and a
laud grant of about 6,000,000 acres. The lands
mortgaged were put in
two trusts, 2,000,000 acres in the first, from the first to the
380th mil&
westward, covered by the first and second land mortgages, and from sales
of these lands there are $1,095,679 land notes held.
The 3,000,000'
acres in the second grant, from
the 380th mile westward, are covered
by the Denver Division mortgage. The second land grant mortgage,
with various other bonds, are taken up with the
general consolidated
mortgage of May 1,1879, which covers road and lands, and the trustees of
that mortgage (Jay Gould and Russell Sage) hold the
following securities
for the trust: Funding mortgage bonds,
$1,500,000; second land grants v
$1,400,000; Leavenworth Branch bonds, $108,000; income bonds,
$3,151,700; Arkansas Valley bonds, $1,035,000; Solomon Railroad
bonds, $575,000; Denver Pacific bonds, $1,641,000; Denver & BoulderValley bonds, $468,000; Junction City & Fort Kearney bonds, $820,000;, Golden Boulder & Caribou bonds, $60,000; total, $10,758,700.
In funding other bonds into the consolidated
mortgage, the old Kansas
Pacific securities are exchanged at par, except as follows: The “
funding
mortgage” bonds get nothing for 5 over-due coupons; Leavenworth
branch and unstamped incomes at 50 per cent and
nothing for over-due
interest; stamped incomes at 30 per cent; second land grant at 50 per
cent. The interest on Denver Extension bonds
(sevens due May l,
1899) was reduced to 6 per cent. Kansas Pacific operations and earn¬
ings for four years past were as follows:
then

Years.

Miles.
672
672
672

672

Passenger
Mileage.
19,292,049
18,232,525
18,936,167

22,173,135

Freight (ton)
Gross
Mileage.
Earnings.
72,119,554 $3,363,760
71,540,034
3,000,800
85,393,211
3,284,734
140,013,144
3,610,224

Net

Earnings,.
$1,572,881
1,217,982
1,367,777
1,198,662

The Denver Pacific—Denver to
Cheyenne, 106 miles—was built under*
the charter of the Union Pacific, E. D. (Kansas
Pacific), and opened
January 1, 1871. The Denver & Boulder Valley was opened under a 99
year lease from 1873. The company made default, and a receiver was
appointed April 4,1878. The stock of $4,000,000 went into this consoli¬
dation January 24, 1880, and the bonds are to be retired with the con¬
solidated mortgage of the Kansas Pacific. (V. 28, p. 18,
44, 69, 70,121,
147. 199, 252, 275, 328, 429, 453, 477, 495,'503, 555, 578, 599, 624;
V. 29. p. 67, 95, 196, 405, 434, 513,657; V.

30,

169, 270, 345.)

17, 93, 118,163,

p.

Union Pacific, Central Branch.—From
Atchison, Kan., to Waterville^
Kan., 100 miles; and has an extension under the name of Atchison Colo¬
rado & Pacific of 229 miles, making 329 miles in
all, and the bondsof the extension are guaranteed by U. P.
company. The Union Pacific
Central Branch was formerly the Atchison & Pike’s Peak
Railroad, and
was one of the roads embraced in the act of
Congress incorporating the
Union Pacific Railroad. The stock is $1,000,000,
of which the Union
Pacific holds about $900,000. The company received a Government
subsidy of $1,600,000. Default on interest was made May 1, 1873, but.
no foreclosure took place.
In 1879 the earnings on 224 miles were
reported at $1,000,000; operating expenses, $477,862; net earnings,
$522,138. (V. 28, p. 454, 477, 553; V. 29, p. 95, 356; V. 30, p. 163,.
221.)

United yew Jersey & Canal
Companies—Lines of road, New York toPhiladelphia and branches, 123 miles; Camden to Amboy and branches,
152^ miles; Trenton to Manunka Chunk and branches, 103 miles; total
operated, 379 miles. Delaware & Raritan Canal, 66 miles. The United
New Jersey Railroad & Canal Companies were leased in
May, 1871, to the.
Pennsylvania Railroad for 199 years, at a rental of 10 per cent on the

stock, besides interest on bonds. The smaller leased roads were taken,
with their several contracts. The Belvidere Delaware was leased to the
Pennsylvania Railroad March 7,1876, and since January 1,1877, has
been operated as the Belvidere Division of United New
Jersey Railroad
system. The net earnings are paid over to the lessors in full as rental.
The lease has not been profitable in cash receipts
to the Pennsylvania

Railroad, as .the net loss in 1877 was $1,482,518 and in 1878 $1,136,775; but the connection with New York was indispensable to the Penn¬
sylvania Railroad, and it is only a question whether it might not have
been secured at much less cost. Operations and
earnings for five years,
past were as follows:
Years.

Earnings.

When

Cent.

1,800,000
154,000

....

....

....

....

Accounts

....

....

....

..

....

1834-7

-

....

.

1,000

1871
1871
1871

....

....

100

....

....

Rate per

13,861,000
6,299,000

567781187.
....

Bonds—Princi¬

INTEREST OR DIVIDENDS.

or

Par
Value.

Road. Bonds

Union Pacific—(Continued)—
2d mortgage currency (government subsidy).. .. 1,038
do
3d
on road (2d on land),
sinking fund.. 1,038
Land grant bonds on 10,514,789 acres
Omaha bridge bds, st’g, (s.f. about $65,000 yrly).
..a
Collateral Trust bonds
Denver Pacific, 1st mortgage, gold, land grant...
106
Kans. Pac.,cons. M..,g.(for $30,000,000),ep.orrg.
do
1st M.. g, cp., on 140m. west Mo. Riv.
140
do
1st mort., gold, 140th to 393d mile...
253
do
2d M.(to U.S.Gov.) on 394m. W. Mo.R.
394
do 1st,394th to 639th in., l.g., 3,000,000 acs
245
do
1st mort., coup., (Leavenworth Br.)..
34
do
Income bds, coup., 3d M.on 427 miles,
427
do 1st land bds.cp.or rg.,g.,on 2,000,000 acs
do 2d land
do
do
do
Union Pacific, Central Branch,—1st mort., gold
100
2d mortgage (government
100
subsidy)
1United N. J. ItR. <£ Canal Companies—Stock
379
General mortgage, gold, coupon
United Co.’s mortgage, sinking fund, registered.,
do
sterling loan mortgage, sinking fund
do
do
do
do
do
do
dollar loan, mortgage
Joint Co.’s mortgage, sterl’g, s. fd. (£138,500).
do
plain bonds
do
do
do
consol, mort. (sink’g fund after 1880)
N. J. RR. & T. Co., 3d loan duo State of N. J
Utah Central— Stock
1st mortgage, gold.
36hs

LIABILITIES.
$
United States bonds.
27,236,512
Interest on U. S. bonds 18,421,087
Other bonded debt
50,404,000
Interest due and ac¬
crued
* 869,891
Bills payable
3,382,824

[Vol. XXX.

Miles.
293
293
373
373
373

Passenger

Freight (ton)

Mileage.
Mileage.
162,225,745 187,699;616
302,188,535 190,635,678
143,132,968 256,134,099
139,245,413 255,027,095
146,914,158 332,298,977

Gross

Earnings.

.

Div.
Net
Earnings, p. fit-

$9,711,284 $3,275,807 10
11,824,133
8,960,697

8,398,534
9,784,843

5,074,017
2,694,480
2,895,592
3,283,981

10
10
10
10

Utah Central—From Ogden, Utah, to Salt Lake City, Utah, 36^milea
For the year ending April 30,1879,
gross earnings were $392,524; opera¬
ting expenses (43*01 per cent), $168,798; net earnings, $223,725-

Leavenworth, 34 interest, $62,290; dividends

on

stock, $180,000.

April,

1880.J

Subscribers will

confer a great

For

headings, &c., see notes
first page of tables.

explanation of column
on

Utah

1
mortgage, gold

Pleasant Talley— 1st

Utah Southern—1st mortgage,
Utah Western—1st mortgage
Utica A Black ltiver— Stock
1st

mortgage bonds

62
75

coupon

.

-

of July, 1868

Mortgage bonds, 2d issue
Black River & Morristown, 1st mortgage
Utica Chenango A Susquehanna Valley—
Utica Clinton A Binghamton—1st

Stock.....

Talley (N.

mortgage
;

Y.)—Stock

Vermont A Canada—Stock
Bonds, guaranteed by Vermont

Mortgage bonds
Missisquoi Railroad

Vermont Central— 1st
2d mortgage,

bonds
mortgage,

consolidated.

Date Size, or
Amount
Rate per
Par
of
Outstanding
Cent.
Road. Bonds Value.

Miles
of

274

Northern—1st mortgage

Utah <£

Bonds—Princi¬
immediate notice of any error discovered in these Tables. Due.
INTEREST OR DIVIDENDS.
pal, When

favor by giving

DESCRIPTION.

Central

168
75
87
36
98
31
11
73
•

•

.

•

73

•

•

900,000

1,000

1,500,000
720,000

1,000
....

1,771,720

100

•

....

200,000

....

1868
1871

912.000

500,000

4,000,000

100

750,000

3,000,000
1,500,000

....

500 &c.

1871

(?)
500,000

1879
500
100
1866
100
1866
1866-9 500
100
1867

4
4
8

&c.
&c.
&c.
&c.
&c.

debt).
1st mortgage (sinking fund $7,000 per year)
Convertible bonds
Vicksburg A Meridian—1st series (red endorsed) —

and extension bonds (to
Vermont A Massachusetts—Stock
Income

pay float’g

2d series (blue endorsed)
3d “ do (black endorsed)
4th do (uot endorsed)

1872

3,000,000
1,500,000
1,500,000

444,100

80
77

1865

100
100 &c.

140
140
140
140

1872
1866
1866
1866
1866

1871

8pecial loan, funding mortgage
Virginia A Trucked—Stock

1,508,600
2,860,000

1,000

54
54

•

•

•

550,000
150,000
703,500
850,000
145,000

1,000

500 &c.

1,000
1,000

1,180,600

100 &c.
100 &c.

217,400

6,000,000

Where

Payable, and by
Whom.

Payable

& J.

J.

M. & N.
J. & J.

New York.
New York Office.
N. Y., Kountze Bros.

....

M. & S.
J. & J.
J. & J.

Utica.
Utica and New

M. & N.

N.

7
7
7
8
7
8
3
6
7
7
7
7
7
8
1

York.

do

do

Y., D. L. & W.
N. Y.,

RR.

D. L. & W.

J. & D. Boston, E. Blake & Co.
J. & J. Boston,Nat.Bk.of Redrn
J.
M.
J.
M.
J.
M.
A.
J.
J.
J.
J.
J.
A.
J.

& J. Boston, Globe Nat. Bk.
& N. Boston,Nat.Bk of Redm
do
do
& D.
do
do
& N.
do
do
& J.
do
do
& N.
Boston, Office.
& O.
do
do
& J.
do
do
& J.
& J. Phila., Girard Nat. B’k.
do
do
& J.
do
do
& J.
do
do
& 0.
do
do
& J.

Stocks—Last
Dividend.

July 1, 1908
1904

July 1. 1891

July 1, 1894.
(?)
July, 1878
Julv. 1891

May 1, 1879
1880
June 1, 1872

July 1, 1891
Jan.
Nov.

1, 1891
1. 1886

1891
1876 to 1889
Jan. 1, 1887
1902

April
July
July
Jaii.

7,
1,
1.
1,
Jan. 1,
Jan. 1,

1880
1883

1885

1890
1890
1890

1, 1890
1880

Jan.

M’nthly

i;i01,000

....

•

When

7

1874-659 1874-965.,

Equipment loans
Stanstead, S. & Chambly bonds

7
7
7
7
2
7
7
7
3

800,000
'

1871

consolidated

$3,888,000

$1,000

1878
1879
1871
1874
•

55

AND BONDS.

RAILROAD STOCKS

Bonds

north into Idaho
Territory. Two hundred and seventy-five miles built March, 1880. The
road
sold in foreclosure March 28, 1878. Transferred to present
company May 1, 1878. Stock, $2,52Q,000. The road is mainly owned
and built by the Union Pacific. For the 1879 the gross earnings were
Utah A

from Ogden, Utah,

Northern.—In progress

was

$262,277.
A Pleasant TalleyLine of road Provo,

$532,676; net,
Utah

Utah

Southern.—Salt Lake

-•$1,125,000; gross earnings
Bonded interest, $105,000.

Utah, to Pleasant Val

1879. Stock, $750,000. Bonds sold
(V. 29, p. 539; V. 30, p. 163.)
City to York, Utah, 75 miles. Stock,

ley, Utah, 60 miles. Road opened in
in New York at 90 in February, 1880.

in 1878, $247,725;

net earnings, $117,534.

U. T., to Stockton, U. T., 40 miles.
■Opened January, 1875. Default was made January 1, 1878, and the
road is held by trustees for the bondholders, and is to be foreclosed.
No report of earnings. LeGrand Young is President, Salt Lake City.
E. F. Bishop, Bridgeport, Conn., and R. JVI. Bassett are trustees for the
Utah

Western.—Salt Lake City,

bondholders.

Utica Clinton A

Binghamton—Utica, N. Y., to

Smith’s Valley, N. Y.f
& Oswego
& Hudson

Opened June 22, 1872, and leased to New York
Midland Railroad. The lease was transferred to the Delaware
Canal Co., which pays the rental of $75,000 per annum.
operated by the Delaware Lackawanna & Western.
1877-78, $69,873; net earnings, $11,999.
O. S. Williams,
Clinton, N. Y.
•
31 miles.

The road is
Gross earnings in

President,
•
Talley (N. Y.) Railroad.—Binghamton, N. Y., to State line of Penn¬
sylvania, 12 miles. Opened October, 1871. Leased to Delaware Lacka¬
& Western. Gross earnings in 1878, $141,792; net earnings,
$62,227. Dividends paid, $60,000. Moses Taylor, President, New York
City
Vermont A Canada—Essex Junction, Vt., to Rouse’s Point, Vt., 47
miles; branches—Essex, Vt., to Burlington, Vt., 8 miles; Swanton, Vt.f
Canada line, 10 miles: total, 65 miles. This road has been mixed up
inextricably with the Vermont Central, by which it was leased and
operated, and the bonds of 1871 were guaranteed by the Vermont
Central.
In 1879 the stockholders voted an issue of $500,000 new
bonds to take up those guaranteed bonds.
No satisfactory report or
information is obtainable. Bradley Barlow, President, St. Albans, Vt
wanna

to

—(V. 29, p.

452.)

Vermont).—Windsor, Vt, to Rouse’s Point
lines, 273 miles, included in the re¬
Other leased line, New Lon¬
has been through more com¬
rentals and moderate dividends for a number
New England.
account, September 30,1879, was as follows, plicated and vexatious litigation than any railroad inaccount of it:
Poor's Railroad Manual of 1879 gives the following
condensed:
.
This company (Central Vermont) was chartered under
Stock per mile
*
$1,771,720 November 2, 1872. The Vermont Central Railroad its present title,
Bonds per mile
1,112,000 chartered October 31, 1843, and the road opened Company was
to Burlington
Sundry accounts and balances
57,808 December 31, 1849. August 24, 1849, it leased the Vermont &
Surplus fund
168,955 Canada Railroad, then under construction, agreeing to pay an annual
rental of 8 per cent on its cost, and creating a mortgage on their own
security for such payment.
Total...,
$3,110,484 road ascontinual litigation since 1854. This lease has been the subject of
almost
The Vermont Central Railroad
Road and equipment
- * -Company having defaulted on its interest and rental, the trustees under
Leased lines, stocks, bonds and advances
^J3,007
the lease took possession of the road June 28,1852, and it has ever
$3,110,484 since been operated by them under direction of the court. On the first
Sundry accounts
_
of January, 1871, a lease was taken of the Rutland Railroad and its
Cash...
13,478leased line, the Addison Railroad, the lessees agreeing to pay $376,000
Expenditures for new construction and equipment on the line owned per year, and in addition $40,500 a year for four years; $67,500 for two
were last year $21,300.
Total construction charges up to the close of years; $81,000 per year for six years, and $94,500 per year thereafter.
the year on account of lines owned and leased were $232,164, of which This contract was modified February 25,1876, as hereafter stated. In
$79,437 have been repaid by sale of bonds, leaving $152,726 due September, 1861, a lease was also taken of the Sullivan County Rail¬
•operating account. The Ogdensburg & Morristown road cost $111,574, road of New Hampshire, at an annual rental of $25,000, but subse¬
the Ogdensburg subscription was $3,347, and stock subscribed by this
quently modified so that the rental depends on earnings. About 1867
company $111,800, so that there is a balance of $6,573 on hand. The the managers of the Vermont Central Railroad purchased the Stanstead
Income account was as follows:
Shefford & Chambly Railroad, extending from St. Johns, P. Q., 43 miles,
bonds. They
Net earnings
$239,292 to Waterloo., P. Q., paying therefor $500,000 infrom Canada also took a
lease
Railroad. The
16,346 Johns of the Missisquoi by this company,road is practically aLine to St.
Rents, interest and premium
portion of
is also operated
and
it, though chartered by the Provincial Parliament under the title of Mon¬
Total
i
$255,638 treal & Vermont Junction Railroad Co. The Vermont & Canada Rail¬
$77,840
road extends from Essex Junction to Rouse’s Point, with branches from
Interest
Rentals.,
66,239
Essex to Burlington, and from Swanton to Canada line, in all 65 miles.
Dividends, 4 per cent
70,832— 214,911 The 47 miles from Essex Junction to Rouse’s Point are included in the
mileage of the Central Vermont RR.” The road is managed by a board
$40,727 of trustees appointed by the Chancery Court of Vermont. J. Gregory
Balance, surplus
128,228 Smith is President. In the two years, 1876-78, the gross earnings were
Add surplus, Sept. 30, 1877
$4,076,702, and net earnings, $1,461,139. The foreclosure suit has been
pending a long time on the second mortgage.
Surplus, Sept. 30,1878
$168,955 Vermont A Massachusetts.—Line of road, Fitchburg to Greenfield,
The surplus is chiefly represented by advances to leased lines. It was Mass., 56 miles; branch, 3 miles; Vermont division from Miller’s Falls,
•deemed best to retain the cash part of it to meet emergencies, instead of Mass., to Brattleboro, 21 miles; total, 80 miles. The road is leased to the
increasing dividend. There were carried last year 103,560 tons of freight, Fitchburg RR. for 999 years at 6 per cent. The Vermont section is
increase of 2,783 tons, or 2’8 per cent. The chief increase was in operated under lease for fifteen years from December 1,1870, by the
New London Northern Railroad; lease rental, $48,000 in 1880 and
grain and stock; there was a slight decrease in lumber and but little
change in other articles. Business was light, on account of general $54,000 per year afterwards.
depression. The Ogdensburg extension is doing well, and promises to
Vicksburg A Meridian.—Line of road—Vicksburg to Meridian, Miss.
Be
good investment. Operations and earnings for five years past were
The company has been unable to earn full interest, but has paid so far as
Div.
Net
as follows:
Gross
earned. It has a land-grant of about 400,000 acres, of which about
Passenger Freight (ton)
Earnings. Earnings. p. ct.
Mileage.
6
Mileage.
200,000 have been certified, and about 40,000 acres sold.
Years.
Miles.
$233,195
$484,856
Gross earnings. Net earnings.
Utica, N. Y., to Philadelphia, N. Y.,
N. Y., to Ogdensburg, to Sackett’s
all; total operated, 180 miles. The

Utica A Black River.—Main line,
"87 miles; leased lines to Morristown,
Harbor and to Clayton, 93 miles in
company has paid its
of years. The general

Vermont

Central (or

Central

Vt., 158 miles; branches and leased
turns of the Vermont Central Company.
don & Northern, 100 miles. This company
“

an

a

-

5,593,083
5,792,703
5,336,245 *
5,266,280

148
170
170
170

—{V. 28, p. 96;

v

5,294,353
5,150,374
5,065,167

5,205,965

481,673
453,576
453,145
477,183

194,301
220,261
239,292

186,652

6
6
4

2

V. 29, p. 536.)

Y., to
miles; total, 98
earnings,

A Susquehanna Talley.—Line of road, Utica, N.
miles; Branch to Richfield Springs, 22
miles. Road opened October, 1872. Leased to Delaware Lackawanna
A Western at 6 per cent on stock. Has no bonded debt. Gross
1878, $396,696; net earnings, $139,010; dividend payments,
•deficit, $180,989.
Utica Chenango

Oreen, N. Y., 76




$240,000;

$421,893
$107,072
478,372
175,981
411,685
105,829
430,428
123,364
B29,175
70,314
Virginia A Truckse.—Reno, Nev., to Virginia, Nev., 52 miles; branch
line, Silver Junction to Silver City, 2 miles; total, 54 miles. Road
opened November, 1869. Gross earnings in 1878 were $1,604,442; net,
$725,092; dividends paid, $750,000. D. O. Mills, President, San Fran¬
cisco,

56

RAILROAD

Subscribers will confer

DESCRIPTION.

a

STOCKS AND

'

Wabash St. Louis
Pacific—Stock, common
Preferred stock, 7 per cent, (not cuumulative)
Wabash, 1st mort. (Toledo & Illinois)
do
1st mort. (Lake Erie, Wab. & St. L.)
do
1st mort. (Great Western of 1859)

1,550
1,550

100

1853
1853

180

1863
1865

33
29
75
167
180
490
109
m

m

mm

1862
1858

1858
1859
1867
.1869
1877

354
146
22

227

1,000
500 &o.

mortgage
lBt consol, mortgage

18
18

Washington City Va. Mid. dk Gt. Sou them—Stock...
1st mortgage, Q.& A., and funded interest
2d mortgage, O. & A.,
do
do .

310

1,000
1,000
1,000
1,000

1,000

1855
1870
1875
....

1873
1871

100
100

....

•

.

•

100

Chicago & Paducah Railway—Strawn to Chicago
259-50
Quincy Missouri & Pacific—Quincy, to Milan, Mo
98*00
Eel River Railway—Logansport, Ind., to
Butler, Ind— 93-84
Camp Point to Quincy, operated jointly with C. B. & Q 21-77

Klvaston,Ill.,to Hamilton, 111., op. jointly with T.P.& W.
6-48—1,137*89
Bt. Louis Kansas City & Northern
Railway,Jproper—St.
Louis to Kansas City
277 00
Branches—
From Ferguson, Mo., to St. Louis, Mo
10 46
From Salisbury, Mo., to Glasgow, Mo
15-13
Omaha Extension— Brunswick, Mo., to Council
Bl,. Ia.. 225*00
fit. Louis Ottumwa & Cedar Rapids
Railway, from
Moberly, Mo., to Ottumwa, Ia
131 00
Clarinda Branch
22 00— 680-59
Leased Lines—
Boone County & Booneville
Railway—Centralia, Mo.,
to Columbia, Mo
21*00
L Joseph & St. Louis
Railway—Lexington, Mo., to St.
Joseph, Mo
76-0097/)0
•

1,915-48

fin January, 1880, the Sycamore & Cortland, 5 miles, and East St.

Louis & Carondelet, 9 miles, were acquired.]

MORTGAGE DEBT.

Missouri

$22,272,450

“

12,995,500

Total

$35,267,950

Mortgage debt,

CAFITAL STOCK AND DEBT.

as above

20,000,000
20.000,000

Total

$75,267,950

—The total fixed charges of the Wabash St. Louis & Pacific
Railway Co.
will be as follow s:
Wabash Division—Mortgage interest
44
$1,519,904
Rentals leased lines
378,980
Missouri Division—Mortgage interest
'
44
44
907,045
Rentals of leased lines, bridges, Ac
144,795
Making in the aggregate
$2,950,724
—The additional equipment provided and to be
delivered during the
year 1880 w7ill require a further
outlay of about $500,000, payable in
instalments. This sum is chargeable to construction
account, and will
eventually increase the funded debt of the company.
44

COMBINED EARNINGS OF TIIE TWO OLD
DIVISIONS.

Of the earnings of years prior to 1879. the
...

Earnings.
$8,872,527

following statement is
Expenses.

$6,442,334

made:
Net.

$2,430,173

8,485,792
6,524,827
1,960,965
7,644,328
5,722,994
1,921,324
6,648,106
5,610,310
1,073,796
7,554.088
5,488,937
2,065,151
1877
7,733,088
5,421,916
2,311,172
1878
8,322,867
5,451,941
2,870,926
The fixed charges, or interest and
rentals, include the amount to be
paid on the follow-iug lines, the earnings of which are not embraced in
the statement, viz.
Chicago & Paducah Railway and extension
259 miles.
Quincy <fc Missouri Pacific Railway
98
...

...

...

...

...

...

Eel River

94
143
22

Omaha Extension.,
Clarinda Branch;

616 miles.

In estimating the bnsiness of 1880 the
additional earnings of
newly•equired lines should he included. See estimate in
Apr., 1880, V. 30, p. 409,
Preferred stock of the
new

company was issued for preferred stock of
one-half of Wabash stock;
company was issued for the St. Louis Kansas
City
& Northern common and for one-half of
Wabash stock. Of the Wabash
landed debt bonds, $1,958,355
carry 5 per cent in 1879-80 and 6 per
cent thereafter; the balance are 7
per cents. First mortgage on St.
Charles Bridge is for $1,000,000, and is 7
per cent for 3 years and 8 per¬
the St. IiOuis Kansas

City & Northern, and for

common stock of new




2,350,000
264,000

4,500,000

Rate per When Where
Cent.
Payable

Payable, and by
Whom.

Stocks—Last
Dividend.

7
7
7
7
7
7
7
7
7
7
4 to 6 & 7
7 g.
7
7
7
7
7 g.
7 g.
6 g.
-

F.
F.
F.
M.
F.
M.
M.
M.

& A. N.

&
&
&
&
&
&
&

A.
A.
N.
A.
N.
N.
N.

Q.-F.
F. & A.
F. & A.
A. & O.
J. & J.
J. & D.
J. & J.
M. & S.
A. & O.
A. & O.
J. & D.

Y., Metropolitan B’k.
do
do
do
do
do
do
do
do
do
do
do
do
do

do
do
do
do
do
do
do
do
do
do
do
do
do

-

N.Y.,NatBkof Com’rce
do
do
do
do

7

do
do
do
do

Aug. 1, 1890
Aug. 1, 1890
Aug.. 1888
Nov. 1,

1890

Aug. 1, 1882
Nov. 1.
Nov. *1,

1878
1878
May 1, 1'893
Feb., 1907

Aug., 1889

Feb.

1,
April 1,
Ian,, ’81
June 1,

1907
1909
& ’82
1909

July 1, 1895

Sept. 1, 1904
Oct. 1. 1908

April 1. 1919
Aug. 1, 1919

1,900,000

1,000,000
750,000

1,800,000
750,000
600,000
884,000
540,000

3*2
3*2
7
7
7
6

J.
A.
A.
M.
M.
J.

&
&
&
&
&
&

2,692,539
525,070

1,657,652

6
6 !

J. Boston, Bost.& Alb. RR. Jan.
1, 1880
O. N.Y., Del., L. & W. RR.
April, 3 880
O.
do
do
April 1, 1900
8.
do
do
March 1, 1905
N. N. Y., Union Trust Co.
D. Baltimore. Balt.& O.RR.
1903

M. & N. Balt., R. Garrett <fc Sons
J. & J.
do
do

Nov. 1. 1866
Jan. 1, 1875

cent for 27 years. A
meeting of stockholders is called for May 5, 1880,
to act on very important matters. See
V. 30, p. 249. (V. 28, p. 200,

224,253,275, 299, 350, 354,402,429,495, 554, 600,617; V.
29, p.
19,42,86, 121, 147, 171,226, 278, 408,460,513,553; V.
30, p. 118,

170, 249, 264, 358, 409.)
Toledo Peoria <fc Warsaw.—Line of road,
Warsaw, Ill., to State line,
Indiana, 227 miles; branch to Burlington, Iowa, 20
miles; total
operated, 247 miles. The company made default
December, 1873, and
was operated by a receiver until
sold in foreclosure on January 20,1880.
It was purchased
by a committee of bondholders representing about
$6,000,000. Subsequently it was consolidated with the
Wabash St.
Louis & Pacific on terms reported as
follows, viz.: That the Wabash
Pacific guarantees 7 per cent on the
$4,500,000 first mortgage bonds
of the Toledo Peoria & Warsaw. The
$2,900,000 income bonds to be
guaranteed at least 4 per cent net earnings, or the holders thereof can
exchange them at par for Wabash Pacific preferred stock.
The
$1,000,000 second income bonds to be
exchanged for Wabash common
stock, share for share. The $3,000,000 common stock of the Toledo

Peoria <& Warsaw to be exchanged at the rate, of
three shares for one of
the Wabash common stock,
making $1,000,000 additional. This scheme
would involve the issue of
$2,900,000 of Wabash
$2,000,000 common stock. No satisfactory reports of preferred and
earnings have
been issued of late years. In
1878, gross earnings were reported at

$1,358,290; net earnings, $472,411; rental, $42,500; hire of
cars,
$185,278 ; taxes, &c„ $68,902. (V. 29, p. 68, 383,
408, 539, 608, 632 ;
V. 30, p. 93,
170, 249.)

Ware River.—Palmer, Mass., to
Winchendon, Mass., 49 miles. It is
leased to the Boston & Albany Railroad at
a rental of 6 34 per cent per
annum.
I. A. Rumrill, President,

Springfield, Mass.
Warren, JV. J.—Line of road, New Hampton Junction

Bridge, N. J., 18*4 miles.

The road is leased to Delaware
& Western at 7 per coot on stock and
bonds. Gross

to Delaware
Lackawanna

earnings, 1878,
$303,412; net earnings, $183,137; interest paid, $91,500;
dividends,
$126,000; loss to lessees, $37,362.
Wasatch tf* Jordan Valley—
Brigham City, U. T.t to Alta City, U. T.,
44 miles.
In 1878 the Bingham Canon &
Camp Floyd was merged
in this.
For three years, 1876-7-8, the
average net earnings were
$131,186 per annum. The stock is $1,100,000. C. M.
Scofield, Presi¬
dent, New York City.
Washington City <£• Point Lookout— Hyattsville, Md., to Shepherd,

$35,267,950 Md., 13

Preferred stock
Common stock

1872
1873
1874....
1875
1876

1,388,500

....

658-30

Mortgage debt of Wabash Division

6,000,000
2,993,000

....

corporation make up a grand total of 1,915*2 miles, as follows:
Wabash, main line and branches—Toledo, O., to St. Louis

Total operated

620,000
500,000

....

Wabash St. Louis <£• Pacific.—X consolidation of the Wabash
Railway
■with the St. Louis Kansas City & Northern, November
1,1879. A full
otatement as to the consolidation was published in the
Chronicle of
January 31,1880 (V. 30, p. 118), from which the following is taken: At
Decatur, Ill., a part of the Wabash Division extends
westerly to Hanni¬
bal, Keokuk, and Quincy, on the Mississippi River. At Bement, Ill., a
branch called the Paducah Extension, now in
process of construction,
and nearly completed to Chicago, will open a short and direct line
between that city and St. Louis. The various lines now
merged in one

Leased Lines—

2,500,000
2,610,000
2,700,000
2,042,450
1,000,000

•

1855

and Hannibal

1,000,000
1,500,000

....

1
....

500,000
300,000

....

....

....

12

1,000

....

49

2d

1,000
1,000
1,000

....

....

2,495,000

1,000
1,000

1879
1879

..

900,000
2,500,000

250 &c.
100 &c.

1878

600
50

Ware River— Stock (guaranteed)
Warren (N.J.)—Stock...

Outstanding

19,760,100

1,000
1,000
1,000
1,000
1,000

1879
1877
1879
1865
1874

....

do 1st mort.. gold, Clarmda Branch
Toledo Peoria & Warsaw, 1st mortgage
do
do
1st income bonds
do
do
2d income bonds

INTEREST OR DIVIDENDS.

Amount

$100 $19,588,500
....

75
167

do
1st mort. (Quincy & Toledo)
do
1st mort. (Illinois & Southern Iowa)
do
2d mortgage (Toledo & Wabash)
do
2d mortgage (Wabash & Western)
do
2d mortgage (Great West, of 1859)
do
Consol. M., (on all but Dec. & E St.L.)..
do
1st mort., (Decatur &E. St. Louis)
do
Funded debt bcls (sec.by dep’sit of
coups.)
do
New M., gold, 8. f. $25,000 alter ’82
do
Sency mortgage
Hannibal & Naples, 1st mortgage
St. L. K. C. & No., 1st mort. (North Missouri)
do
real estate & railway 2d mort

“

rvou xxx.

great favor by giving Immediate notice of
any error discovered In tbese Tables,

Miles Date Size, or
F# explanation of column headings, &c., see notes
of
of
Par
on first page of tables.
Road. Bonds Value.

44

BONDS.

miles.

This road was opened in 1873.
It is leased to the Balti¬
Ohio for $36,000 gold
per annum. The stock paid in is
$1,000,000. Same officers as Baltimore & Oliio Railroad.
more

&

Washington City Va. Midland <& Great Southern.—Line of road, Alex¬
andria, Va., to Danville, N. C., 238*2 miles.
Branches—Manassas Junc¬
tion to Strasburg, 63 miles; Warrenton Junction
to Warren ton, 8 *2
Strasburg to Harrisonburg (leased to B. & O.), 49 miles; total of all miles;
lines,
359 miles. A consolidation
(November, 1872) of the Orange Alexandria
& Manassas and Lynch’g & Danville
railroads. The O. A. A: M. was a
consolidation (June 1, 1867) of the
Orange <fc Alexandria and the Man¬
assas Gap.
Between Gordonsville & Clmrlottesvillc, 22 miles,
the Ches¬
apeake & Ohio Road is used for a rental of $30,000.
The company was
put into the hands of a receiver July 1, 1876, interest
being in default.
The Baltimore & Ohio has
large claims against the company for
etc.; but a plan of reorganization is in progress wbicli will be coupons,
agreed to

by all interests. This proposes: The interest on the first and second
Orange & Alexandria from July 1, 1879, to
in the new bonds to be issued. Interest on July 1,1880, is to be funded
the third Orange & Alexan¬
dria is 6 per cent after the expiration of five
years. The interest on the
fourth Orange & Alexandria bonds is to be 3
per cent for the first ten
years, 4 per cent for the next ten years, and 5 per cent for the remain¬
ing twenty years. The mortgage to be made to secure the new
bonds,
issued in lieu of the Orange Alexandria &
Manassas and Manassas
Gap bonds, is to cover all the interest of the new
company in the lease
of the road from
Strausburg to Harrisonburg, made by the Baltimore &
Oliio Railroad

Company, thus pledging the

payment of the interest upon

rental of that road to the

this class of new bonds. The interest upon
the new bonds issued in lieu of the
Lynchburg & Danville bonds is at
the rate of 4 per cent for
eight years. The common and preferred stock
of the companies is to be
represented by stock of the new company
upon a basis of $100 stock of the new for
$500 stock of the old com¬
panies. The new road to be constructed by the Charlottesville &
Rapidan Railroad Company, from Charlottesville
to Orange Court House, is
to be covered by all the
mortgages except the mortgages to secure the
now bonds issued in lieu of the
Lynchburg & Danville bonds. The new
company is to assume the lease of the Franklin &
Pittsylvania Railroad
Company, and all interest in the lease is to be covered by a mortgage
made to secure tbe new bonds issued in
place of the Lynchburg & Dan¬
ville bonds. The trustees are authorized to borrow such
sums of nwmey
as may be needed for the
purchase of the road and the other purposes of
the trust upon the credit of the
property which they purchase. Vacancies
in the board are to he filled
by the trustees. A full statement of the
company’s liabilities and earnings was given in the Chronicle of
January 18,1879 (V. 28, p. 70),. which contained the
following state¬
ment or the earnings and expenses and the
interest charge for which
each section was primarily liable:

RAILROAD

Afbil, 1880. J
8ab§crib«r« will confer

a

STOCKS

AND

BONDS.

great flavor by giving Immediate notice of any error discovered In these
Tables.

DESCRIPTION.
For

explanation of column headings, &c.,
on

first page of tables.

Miles

Date

of

of

see notes

Road. Bonds.

Wash. City Va. Mid-. <Jt Gt. Southern—(Continued)—
3d mortgage, O. & A., and funded interest
4th mortgage, O. & A.,
do
do
1st mortgage, O. A. & M. RR
2d mortgage. O. A. & M. RR
Gen. mort., gold, Wash. C., Va. Mid. & Gt. Soutli’n
Lynchburg & Danville, 1st mort., guar., coup
Westchester <t Philadelphia—Preferred stock

•

•

•

or
Par

Value.

1858
1860
1867

•

INTEREST OR DIVIDENDS.

Size,

Amount

Outstanding

$....

$817,800

....

mortgage,

336
....

1871

60
38
63

1861
1866
1869
1879
1866
1868
1870
1873
1858

mortgage loan

do
consolidated
Consolidated mortgage
Western (Ala.)—1st mortgage (Mont. & W. P.)
Western RR. bonds, before consolidation
2d mort.. guar, by Cent, of Ga.and Ga. RR. <fcB.Co.
Western <k Atlantic (Ga)—Income bonds
Western Maryland—1st mort., endorsed Balt. City..
1st mortgage, unendorsed
do
2d
endorsed by Baltimore
do
2d
endorsed by Wasnington
2d preferred mortgage, uuendorsed

County

128

116
44

160
138
90
90
90

1858

1867
1867
1868
1870
1872

90
90
90
90
60

..

3d mortgage, endorsed by Baltimore
4tb
do
endorsed by Baltimore
Western Minnesota—1st mortgage

let mortgage land bonds
Western North Carolina—1st

....

Wilmington Columbia <£ Augusta—1st mortgage

188

...

Income bonds

.

.

_

1870

Interest

Income.

....

$521,503

$215,302

72,050
100,941

$284,031

Lynchburg & Danville Div.

162,721
105,992

90,671
5,051

117,000

$693,991

$311,024

$894,405

$615,000

190,421
133,291

75.000

$279,405

$284,031

115,421

143,433
117,000

Charge.

143,433

1878.

Alex. & Lynchburg Div
Manassas Division.-:

....

Lynchburg & Danville Div.

113,000

20,291

Total..

$1,218,117 $803,000 $415,117
of the whole plan of reorganization was published in tlie
Chronicle of July 19,1879 (V. 29, p. 68). In January, 1880, a bill w as
introduced in the Virginia Legislature to enable the
company to reor¬
ganize, and in February a decree of sale was made, the road to be sold
May 13, 1880. (V. 28, p. 70, 147, 555; V. 29, p. 19, 68, 96, 303, 331,
383; V. 30, p. 193, 289, 345.)
A summary

Westchester

&

Philadelphia .—Line of road—Philadelphia

to West¬

chester, Pa., 26 miles. All the old stock has been taken up,and the
present consolidated stock issued, which receives 8 per cent per year.
Gross earnings, 1877-78, $312,486; net, $146,127. (V.
26, p. 116.)
West Jersey.—Main line—Camden to
Millville and Bridgeton, 59
miles; leased lines, 69 miles; total, 128 miles operated. The company

holds

as assets $1,130,448 of various stocks and bonds.
In 1878 the
rentals of Swedesboro Railroad and Salem Railroad were
$27,505 more
than their net earnings; the net profits over interest and rentals
were

$6,242.

The operations for three years past

Passenger
Mileage.
14,523,873
15,386,915

1877
1878
1879

Western Alabama

Freight (ton)

Gross

3,796,067

541,678
586,178

Gross

Net

Earnings.

Interest.

$121,088
100,524
176,652

$204,240

467,597
544,107
579,492

183,994

Bonded

204,240
204,240
204,240

Western <& Atlantic.—Atlanta, Ga., to Chattanooga, Tenn., 138 miles.
Built by State of Georgia and opened in 1850, and by an act of October
24,1870, was leased to a company for twenty years at a monthly rental
of $25,000. In 1877
gross earnings were reported at $1,091,895, and
net, $460,905. None later given. (V. 29, p. 489.)
Western Maryland.—Line of road—Baltimore to Williamsport,
Md., 90
miles. The capital stock is $682,250. The company was
largely assisted
by the city of Baltimore, and was unable to pay all its interest. A com¬
promise was made with the preferred second
mortgage bondholders for
funding coupons. See Chronicle, Vol. 29, p. 458, where the last annual
report is published,which contained the following
“
interesting information:
During the year an amicable at^justment has been made with the pre¬
ferred 2d mortgage bondholders, by the adoption of a
mutually satisfac¬
tory funding scheme. Under this
arrangement, the overdue coupons upon
$390,000 of the $421,500 of these bonds held by individuals have been
funded, and it is expected the balance, principally held in Carroll
county, will be funded by Jan. 1, the time at which the company has
agreed to resume the
payment of interest upon all such bonds represent¬
ed in the
funding certificates. The finance commissioners of Baltimore
city have funded $113,475 first
second mortgage coupons. The old mortgage and $112,455 preferred
funding certificates for $177,596 of
first and preferred second
mortgage coupons issued in 1870, and bearing
o per cent
interest, fall due July 1,1880. A number of the principal hold¬
ers of these have been
consulted, and all seem willing to renew at maturity
at 6 per cent. The
arrearage of interest due the city on the $72,000
first
mortgage coupons, purchased in 1874, will be provided for by in¬
stallments as early as practicable. Once able to
pay the interst upon its
first and preferred second
mortgage bonds and funding certificates, with
tne
"

“

*

v

expensive litigations

Harassed it from its inceptien to the
present time, and the day for such
condition can no longer be remote.




j

—(V. 28, p.

—

Earnings.
$491,458

_

Mileage.
6,140,713

$203,595
202,985
253,812

a

J. & D. Balt., Safe Deposit Co.

Passenger

Earnings.

$595,025

3,624,708

7

June, 1900

Contrary to expectation, the Baltimore & Hanover Railyoad has not
yet been completed to its connection with this road,
though it is now
expected to be in operation within the next thirty
days. With the
present completed line of 60 miles, including the Hanover &
Gettysburg,
the controlling road, and without further
extension northward from
Hanover, as it is contemplated at an early day, this route will give the
towns of Hanover, Gettysburg, New
Oxford, Berlin, and many others of
minor importance, together with a large
scope of thickly-settled and
highly-improved country, much more direct communication than here¬
tofore enjoyed with Baltimore, their natural
market, and in using 20
miles of the Western Maryland Railroad between
Emory Grove and
Baltimore, it is believed that the traffic from this source will
largely '
increase the revenues of this company without
materially adding
expenses.
The Baltimore & Cumberland Valley Railroad was to its
also
expected to be in operation by this time to tin*, town of
Waynesboro, Pa.,
seven miles distant from
Edgemont, its terminus on the Western Mary¬
land Railroad. The
grading, masonry and bridging upon this section are,
now entirely finished to the
town, but the date of final completion ha*
been made uncertain by the
difficulty experienced in obtaining rails of
the required quality, all mills of good
standing being overrun with
orders for months to come.
There is a prospect,' however, that thin
difficulty may be speedily overcome. If so, this track can be completed
within thirty days from the time the rails are
delivered. This seven
mijes is but the entering wedge to a line which, when further
prosecuted,
must prove of incalculable benefit to this
company, and must restore t*>
Baltimore much of her long-lost trade with the Cumberland
Valley.’*
The operations for five years have been as
follows, but in 1878-79 the
construction account was closed and all
expenses charged to operating
expenses, on which basis net earnings in 1877-78 would
have been
$57,056 instead of $129,927.

Net

Earnings.

Mileage.

....

“

were:

Line of road—Selma to Opelika, Ala., 116 miles;
branches, Opelika to West Point, 22 miles, and Opelika to Columbus, 29
miles; total, 167 miles. Was a consolidation in 1870 of Montgomery &
West Point and Western of Alabama. Sold
May 10, 1875, in foreclosure,
and purchased jointly bj' the
Georgia Railroad and Central Railroad of
Georgia. The old stock and income bonds were wiped out in the fore¬
closure, and the property isf represented by the bonded debt and $361,005
due, each of the above companies. There are also
$45,000 second mort¬
gage 8s of Montgomery & West Point RR. due May 1, 1888. The
gToes
and net earnings have been as follows:

arrears ab<
Bed bv Balt.

1,200.000
1,300,000
3,200.000
600,000

500 <fec.

Primary

....

1,000,000

....

....

Expenses.

$1,005,518

.

....

Receipts.
$736,805

Total

300,000
300,000
600,000
875,000
1,000,000
500,000
100,000
850,000
800,000

500 &c.
100 &c.

....

Net

Div

400,000

_

1877.

Alex. & Lynchburg
Manassas Div

736,000
200,000

&c&c*
&c

.

....

62

1,200,000

&c
&c
&c&c
&c

.

1863
1865

....

1,000,000
273,000
300,000
600,000

....

500
100
500
500
500
500
500
500

....

57
28

340,000

1,000,000

®

....

iso

mortgage

1,100,000
1,359,750

....

....

...

Western Pennsylvania—1st mortgage
1st mortgage, Pittsburg Branch
General mortgage
White Water—Stock ($325,000 of it pref.)

100 &c.
50
500 &c.
500 &c.
500 &c.
500 &c.
®

•M. & N. Balt., R. Garrett & Sons
May 1, 1873
M. & S.
do
do
Sept. 1, 1880
J. & J.
do
do
July 1, 1880
J. & J.
do
do
July 1, 1882
7 g. M. & N.
do
do
May 1, 1903
6
A. & O.
do
do
April 1, 1890
2
J. & J.
Jan. 10, 1880
Philadelphia, Office.
7
A. & O.
do
do
April 1, 1891
2
F. & A. Phila., Pa.RR.Co. Office Nov.
17,1879
6
M. & S.
do
do
Meh., 1883
6.
J. & J.
do
do
Jan., 1896
7
A. & O.
do
do
Oct., 1890
6
M. & N.
do
do
Nov., 1909
8
J. & J. New York & Savannah.
July. 1891
8
A. & O.
do
do
Oct. 1. 1888
8
A. & O.
do
do
Oct. 1, 1890
10
Q-J.
Atlanta, Co.’s Office.
Oct. ’79 to '91
6
J. & J. Bait., N. Mechanics’ B’k Jan.
1, 1890
6
J. & J.
do
do
Jan. 1, 1890
6
J. & J.
do
do
Jan., 1890
6
J. & J.
Hagerstown.
Jan., 1890
6
J. & J. Balt., N. Mechanics’ B’k
Jan., 1895
6
J. & J.
do
do
Jan., 1900
6
J. & J.
do
do
Jan., 1902
7
7
7
May 1, 1890
6
A. & 0.
Philadelphia, Office.
April 1, 1893
6
J. & J.
do
do
Jan. 1, 1896
A. & 0.
7
do
do
Oct. 1, 1901

821,300

....

Bonds—jfrmo j.
pal, When Doc,
Stocks—Last
Dividend.

8
8
7
7

1,000,000
1,310,000

500 Ac.

....

27
128

new

West Jersey—Stock
Loan of 1883, guaranteed by Camden & Amboy..
1st
1st

1873
1871

65*2

Rate per When Where Payable,
and by
Cent.
Whom.
Payable

1,200,000
1,650,000
133,050

11887744-659-.965
1875-96
1st

67

6,737,061
6,582,241
7,411,061
8,502,388
97, 121, 147, 454; V.

Freight
Mileage.

Gross

4,631,932
4,692,089
5,180,982
5,469,519
29, p. 458.)

Net

Earnings.
$293,718
311,902

Earnings.

332,086
347,202

347,442

$99,298
96,346
112,145
129,927
73,095

Western Minnesota— Sauk Rapids, Minn., to
Brainerd, Miifn., 61
miles.
Road opened Nov. 1, 1877.
Leased to the Northern Pacific*
Railroad May 1, 1878, for 99 years. Stock,
$100,000. The land grant
is 537,842 acres. George L. Beeker,
President, St. Paul, Minn.
Western North Carolina— Road as
Paint Rock, Tenn. State line, 184 miles; projected—Salisbury, N. C., to
in operation—Salisbury, N. C.,
to Swannanoa, N. C., 127 miles; branch
line—Newton Junction, N. C., to
Newton, N. C., 3 miles; total projected, 184 miles, and
operated, 130
miles. The road was
financially embarrassed, and was purchased April
17, 1875, by commissioners for the State of North Carolina. It is
pro¬
posed to complete the road to the Tennessee State line. In March,
1880,

Western Pennsylvania.—The road runs from Blairsville
to Alleghany
City, Pa., 63*2 miles; branch to Butler, Pa., 21 miles; total, 84*2 milesCompleted in 1865 and branch in 1870. Leased to Pennsylvania Rail¬
road, the lessees paying net earnings to lessors. The
Pennsylvania Rail,
road, lessee, owns $972,650 stock out of the total amount of
$1,022,450,
$148,000 of branch bonds, and all of $1,200,000 general
mortgage
bonds. In 1878 gross earnings were $547,175 and net
earnings $231,175..
White Water— Harrison, O., to
Hagerstown, Ind., 62 miles. This waa
formerly the White Water Valley, sold in foreclosure May 2,1878, and.
reorganized under this title. Net earnings in 1878, $17,645.
Eiy&h
Smith, President, Boston, Mass.
Wilmington Columbia & Augusta.—The road extends from Wilmington
N. C., to Columbia, S. C., 189 miles. The
company leased Wilmington &
Weldon, but failed on the rent December, 1877.
Gross

Net

Earnings.
$593,597

Earning®.

532,311
518,225
509,699

116,634
87,630
98,650

$193,608

478,309
deficit,8,010
foreclosure, October, 1879, for $860,500, and re¬
organization is in progress.
The scheme of reorganization provides
that a new corporation shall be created, with a
capital stock of $960,000
and $1,600,000 in thirty-year first
mortgage bonds. The holder of
$2,000 of the old bonds, together with the certificates for funded interest*
to receive a $1,000 bond of the new
company, and in addition six shares
of stock, viz.: The first
mortgage bonds of the Wilmington Columbia &
Augusta Railroad, $3,200,000, and accrued interest, $335,000, will be
funded into $1,600,000 bonds and $960,000 stock of the new
company.
The plan adopted provides only for the first
mortgage bondholders, and
cuts out income bonds, $600,000; certificates of
debt, $336,000; floating
debt. $1,000,000, and the capital stock of the old
company, $300,000.
—(V. 29, p. 351; V. 30, p. 84, 190.)
Road

was

sold in

.

9

EAILEOAD

58

1874-956

Subscribers will confer a

For

great favor by

DESCRIPTION.

explanation of column
on

first page

headings, &c., see notes

of tables.

Miles
of

Par

Value.

$100
„

....

do

do

©

gold
Central—1st mortgage, gold, land grant.

Sinking fund bonds,

Wisconsin

Size, or

Date
of

179
179

Sterling bonds

327
107

Wisconsin 'Valley—New inortgagebonds
Worcester <& Nashua—Stock
Bonds
Bonds
Bonds
Nashua <sc

®

®

•

o

1871
1879

48

48

1st m., guar, (for $700,090)

do

.•

•

•

100
100 &c.
500 &c.

94

Rochester—Stock

•

'500

1873
1875

do

1000&C.
•

..

•

•

•

500 &o.

1874
\

to Weldon,
Was leased
for 99

Wilmington <& Weldon — Road extends from Wilmington
N. C., 163 miles; branch to Tarboro, 17 miles; total, 180 miles.
November, 1872, to Wilmington Columbia & Augusta Railroad

liabilities and paying 7 per cent divi¬
December, 1877, and the lease was
The earnings and expenses for live years

years, the lessees assuming all
dends. The lessees made default

surrendered April
have been as

13,1878.

follows:

Earnings.

—(Y. 28, p. 44,

Net
Earnings.

$661,295
604,699
548,462
488,448
505,957

$269,509
238,977
156,908
176,277
189,413

Gross

144; V. 30, p. 191.)

Ashland, Wis., 249 miles;
Milwaukee & Northern,
suit was begun in
September, 1878, and in January, 1879, the road went into the hands of
trustees for bondholders, having been operated previously by the
Phillips & Colby Construction Company. There is a valuable-land-grant
of over 800,000 acres. The full plan of proposed reorganization, with¬
out foreclosure, was given in the Chronicle, V.. 29, p. 303. Of the
above bonds, $1,091,500 are “unfunded,” bearing coupons of July,
1875, and since; $3,594,000 have funded nine coupons, including July,
1879; $3,481,500 are “clipped” bonds, first coupon due Jan., 1881;
$15,000 are partially “clipped” bonds, issued by mistake, with coupon
of July, 1880, on. For four years past the earnings, &c., were as follows :
Net
Gross
Freight (ton)

Wisconsin Central—Main line, Menosha to
branch to Portage City, 71 miles; leased the
129 miles. Road finished in 1876. A foreclosure

Miles.
1875-6.. 355
1877
449
449
1878

Tears.

....

....

Passenger
Mileage.

5,960,952
5,581,586
5,661,975

Mileage.

21,647,694
23,968,360
23,225,583

Earnings.

Earnings.

$709,935

$297,733

714,429
733,819

111,893
122,863

1879

V. 29, p. 147, 303; V. 30,„p. 249.)
Talley.—Road extends rom Tomah to

v—(V. 28, p. 18, 70;
Wisconsin

4




of any error discovered in these
INTEREST OR DIVIDENDS.

giving immediate notice

Road. Bonds

Weldon—Stock

Wilmington. <6

[Vol. XXX;

STOCKS AND BONDS.

.

Jenney, Wis., 107

Amount

Outstanding

When

Cent.

Payable

1874-956.

3
6 g.
7 g.
7 g.

8,168,000
1,103,965
1,789,800

?*•

275,000
250,000
400,000

1,185,000
700,000

miles.

Bonds—Princi¬

pal,When Due.

Payable, and by
Whom.

Stocks Last
Dividend.

-

$1,45*6,200

648,700
221,400
749,000

Where

Rate per
l

Tables.

2
5
5
5

1^
5

J.
J.
M.
J.
J.

&
&
&
&
&

Nov.. 22, 1879
D.
1881
London.
J.
1886
do
N.
*•’ 1896
J. N. Y. .Boat. ,Lond.,Frank
July 1, 1901
Boston, Office.
J.

Boston.
& J.
Worcester, Office.
do
do
Various
A. & O. Boat., Globe Nat. Bank.
do
do
F. & A.
Worcester, Office.
A. & O.
A. & 0. Boat., Globe Nat. Bank.

J.

«■

The road has been

extended from a point two

July 1, 1876
May 1, 1887
April 1, 1893
1, 1895
April, 1880
April 1, 1894

Feb.

miles north of

and $175,000 first mortgage

Wausau to Jenney, a distance of 17*2 miles,
coupon 7 per cent bonds have been
the company’s circular of October 30,
the amount of $55,000, bearing 8 per cent
aid of such extension, and delivered to this company.

issued therefor, in conformity with
1879. Lincoln County bonds to
interest, have been issued in
The capital stock
was about $600,000 and $1,800,000 8 per cent first mortgage bonds,
which were in default for several years. In 1879 an arrangement was
made to reduce the bonds to $900,000 7 per cent bonds, and preferred
stock was issued to the amoimt of $1,403,255. To each holder of $1,000
8 per cent bond a $500 7 per cent bond was given, with preferred stock
to cover the remaining $500 with the four years’ over-due coupons.
The common stock is now (Jan. 1,1880,) $623,000. In the year 1879

Cash from laud sales,
1879. (V. 29, p. 452,
Worcester <£• Nashua.—This road, 45 miles from Worcester, Mass., to
Nashua, N. H., paid regular dividends of 10 per cent for some years
before 1874-5. In 187516 the leased line charges (Nashua & Rochester, 48
miles) first appear in the accounts, and the Worcester & Nashua paid
only 5*2 per cent dividends in that year and nothing since. The rental
charge being plainly too heavy, an agreement was made in 1879 to
reduce the interest on bonds to 5 per cent, and the dividends on Nashua
The interest on Worcester
& Rochester stock to 3 per cent per annum.
<fc Nashua bonds was also reduced to 5 per cent; and surplus earnings in
any year above requirements for interest and 3 per cent on each stock
to be apportioned between the stock of each company according to
the relative number of shares. In the first five years operations were as

earnings were $225,953. and net $88,125.
$12,000. New bonds for extension issued, Oct.,
513; V. 30, p. 272.)
gross

are

follows :

Passenger
Mileage.

5,245,921
5,874,808
6,383,990
5,703,761
6,168,871

—(V. 27, p. 537 ; V.

Freight
Mileage.
9,083,218
8,969,241
10,063,658
9,961,740
12,123,444

28, p. 378 ; V. 29, p. 86,

Gross
Earnings.
$461,369
507,325
497,239
473,240
473,081

539.)

Net
Receipts.
$125,290
162,597
157,260
168,351
186,40$

Subscribers will confer a great favor

Miles

explanation of oolumn headings, Ac., see
on first page of tables.

notes

Chesapeake—Stock

(extended 20 years in 1878)

mortgage, registered
do
Debenture loan of 1894, coup and reg
1st M., coup. & reg., on Penn. Div. ($10,000,000)
1st

do

Lehigh Coal <£ Navigation—Stock
Loan, conv., coup., gold (assumed L. A W. Coal Co)
1st mortgage, registered
1st mortgage, registered, railroad
Mort. loan, g. ($2,810,000 assumed

Par
Value.

Canal. Bonds.

14
14
184
184

25

500 &c.
500 Ac.
500 Ac.
50

....

....

60
60

....

1877

....

339

lOOOAc.

....

....

1876
1865
1869

pref., 3d. T. W. priority b’ds..

bonds of 1872....

•

•

•

1859
1841-4
1872

^

.

•

*

*

1,000,000
1,323,000
325,310
250,000

City, Md.

1877.

1878.

1879.

$

$

$

$

6,495,428 4,638,872 5,229,266 5,764,477
43,445
44,313
39,100
41,025
91,408
381,048
28,900
80,146
698,758
341,036
672,785
535,264
Railroad earnings in Penn.
306,911
248,275
398,219
595,663
Interest on investments...
341,781
326,635
338,932
294,312

1,147,322

Balance
Total
Disbursements—
Coal on hand Jan. 1
Coal purchased

8,264,522
$

737,628

630,643

59,591

6,743,040 6,818,887 7,985,118
$
$
$

698,758

673,651

341,036

120,599
2,754,778 2,077,370 2,264,228 3,003,893
Coal transportation, Ac...
542,156
641,951
488,073
618,252
Canal freight and expenses 1,032,431
759,349
820,438
933,768
Railroad freight, &c
428,840
422,746
528,532
830,427
Interest
7.
1,187,886 1,157,352 1,340,956 1,234,449
350,916
Taxes and miscellaneous.
596,780
534,025
406,883
Loss on leased railroads...
555,404
605,367
498,562
316,059
..

308,020

8,264,522
GENERAL BALANCE AT

— .

6,743,040

6,818,887 7,985,118

CLOSE OF EACH FISCAL YEAR.

$
$
$
$
6,339,210 6,339,210 6,339,210 6,339,210
Railroad and equipment.. 6,195,511 6,209,981 6,190,766 6,220,669
Real estate
8,532,873 8,622,913 8,643,783 8,795,657
Mines and fixtures
2,666,849 2,679,961 2,679,077 2,699,590
Coal-yard, barges, Ac
897,287
877,784 720,487
917,573
Lack. & Susquehanna RR. 1,021,153 1,021,153 1,022,293 1,022,293
New York & Canada RR
3,597,087 3,597,074 3,597,074
314,871
305,991
Cherry Yal. & Sharon RR.
320,118
300,000
Coal on hand Dec. 31
•
698,758
341,036
672,785
535,264
Advances to leased lines..
427,500
385,374
439,020
368,773
Advances on coal royalties
521,179‘
581,289
617,246
605,326
Miscellaneous assets
8,088,714 4,438,512 4,295,445 *4,480,701
Telegraph, and Car Co....
54,675
69,410
69,410
69,410
Supplies on hand
1,319,604 1,089,853
878,000
958,667
Cash and bills receivable.. 2,687,821 1,926,694 2,314,268 3,140,116
Profit and loss
199,660
587,185 1,208,726
39,285,099 38,714,292 39,610,006 40,981,301
Total assets
Liabilities—
$
$
$
$
Stock
20,000,000 20,000,000 20,000,000 20,000,000
Bonds
...15,116,000 17,010,500 18,333,000 19,837,000
Sinking fund
274,545
Miscellaneous accounts... 2,846,230 1,703,792 1,277,006 T,144,301
Assets—

Canal, &c

p.

Balt., A. Brown A Sons.

J.
F.
J.
F.
J.
J.
A.
M.

Philadelphia, Office.

Q-M.
S.

A
A
A
A
A
A
A
A
A
A
A

6
6
7

6

do
do
do
do
do
do
do
do
do

do
do
do
do
do
do
do
do
do

Q-J.
Q-F.

D.
D.
D.
D.
A.
8.
A. Leh.Val.RR. Co., Phila.
do
do
A.
do
do
O.
do
O.
do
A.
do
do

J. A J.
F. A A.
F. A A.

Phila., 233 So. 4th St.

Philadelphia, Office.
do

A
A
A
A
A

J.
J.
J.
J.
N.

do
do
do
do
do
do

do
do

A J.
A J.
A N.
A N.
A N.

J.
J.
J.
J.
M.

do

do

Q. -M.
J.
J.
M.
M.
M.

”e‘

1870
1890
1885

London.

•
A J. Balt., A. Brown A Sons.
A A.
Philadelphia, Office. Mar. 20, 1880
do
do
A J.
July 1, 1898
A A. N. Y., Bk. of Commerce.
Aug. 1. 1876
1884
do
°
do
A J.
1891
•
do
do
A J.
1894
A 0. N. Y., office 71 B’way.
do
do
A S.
Sept. 1. 1917

M. A

J.
J.
J.
J.
F.
M.
F.
F.
A.
A.
F.

July, 1886

do

do

»

do

do
do

Sept. 2, 1876
1894
1884
1897
1897
1880-’81-*82
1882
June 1, 1911
1892
1883-’S4

Aug. 4,1879
Aug. 4,1879
April 1,1906
Oct., 1885
Feb., 1889
July, 1910

Aug. 6, 1879
Aug. 6, 1879
March, 1897
1882 to 1907
1895

May, 1880
May, 1913
May, 1915

Phila. and Baltimore.
do
do'
do
do
do
do

Philadelphia, Office.

.

Jan., 1885
Jan. 1, 1918
Jan., 1894
Jan., 1902

May 1,1883

453, 501; V. 29, p. 119, 146, 225, 357, 459, 563, 631; V.

30, p. 168, 320.)

1876.

JReceipts—

6
6
6
6
6
7

3,000,000

•

INCOME ACCOUNT.

-

2,002,746

500

•• •

$1 40

260,000
756,650
628,100

1,000

•

*6*
70c.

1,200,000

1,6*00

—(V. 27, p. 66.)
Chesapeake d Ohio.—Gross receipts, 1878, $289,457; net, $82,525.
| (V. 28, p. 599.)
Delaware Division—Leased to Lehigh Coal A Navigation Co. at interest
on bonds and 4 per cent a year on stock, payable till February, 1880, in¬
clusive, in scrip, then till August, 1881, hair in scrip. (V. 28, p. 41,198.)
Delaware & Hudson.—This company, which is among the largest
miners and carriers of coal, leases the Albany & Susquehanna and
Rensselaer & Saratoga railroads. Also endorses bonds of New York &
Canada Railroad. The annual report for 1879 was given in V. 30, p.
320. Comparative statistics for four years are as follows:

Balance
Total

3,000,000
909,236
3,175,900
1,709,380
3,990,392

Chesapeake—Securities placed on New York Stock —(Y. 28,

Exchange list February, 1880. (See V. 30, p. 248.)
Chesapeake d Delaware—Delaware City to Chesapeake

Mining coal

4,501,200

1,000

1*839

85

*

220,000
103,164

50

....

..

780,000

1,000
1,000

1863
1864

45

^

1,175,000

....

1870

6
6

245,000

1,000
1,000

....

•

Susquehanna—Stock
Maryland loan, 2d mortgage
Susquehanna Canal, common bonds, 4th mort....

l1^

1,025,000

50
50

....

....

6
4
7
7
7
7

7
7
6
2
5
7
7
7

....

....

Boat and car loan
Boat and car loan

14LJS.

685,000

1,000

....

....

5
6

2,102,750

....

....

P. & R.)

‘*6*

Philadelphia, Office.

Q- J.
Q-J.

6

6 g.
6
6
6 g.

1,000

1870

....

1st

July 1, 1909

771,000
5,381,840
2,000,000
4,653,000
430,342
41,550

various.
various.
50

pal, When Due.

Where Payable, and by Stocks—Last
Dividend.
Whom.
Payable
When

J. A D.
J. A J.
J. A J.

.

11,204,250

various.
100
100

....

....

337
337
108

.

1,000
1,000

1872
1871
1872

.

.

50|

....

....

t

500 Ac.
Var.
Var.
500 Ac.
Var.
Var.

*

...

....

.

1,000

1869
1864
1867
1867

....

....

Preferred stock

Sales of coal
Canal tolls
Miscellaneous profits
Coal on hand (Dec. 31)....

Bonds—Princi¬

....

20,000,000
3,500,000
6,481,000
4,856,000
5,000,000

1,000
1,000

1869
1871
1874
1877

103
103
103
103

guar’d by Penn. RR—

Union—1st mortgage

discovered in tbese Tables.

'*7*

800,000

100

....

_

2,078,038
1,993,750
8,229,594
2,000,000
4,375,000
1,699,500
1,633,350

1,000

1858

148
148

_

*

Schuylkill Navigation—Stock, common

do
do

Vario’s

....

....

Improvement bonds

50

1856

184
184

Rate per
Cent.

500,000

....

....

(for $1,000,000)

mortgage, extended
2d mortgage
Mortgage bonds, coup, (payable by

Amount

Outstanding

$1,500,000

$....

....

by other co’s.)

Preferred stock scrip dividend

Albermarle d

of

....

Loan, debenture mortgage
Loan, debenture
1
Consolidated mortgage loan
Greenwood mortgage, reg.
Extended,
Scrip...
Hoi'ris—Stock, consolidated
Preferred stock

General mortg., interest

of

148

Delaware & Hudson—Stock

Pennsylvania—Stock

Size, or

1879

Maryland loan, sinking fund
Guaranteed sterling loan
Bonds having next preference..
Delaware Division—Stock, (Conv.into L.C.AN.stck.)

Few mortgage
Boat loan

Date

....

Mortgage bonds
Chesapeake & Delaware-Stock
1st mortgage (originally $2,800,000)
Chesapeake & Ohio— Stock

1st mortgage

by giving immediate notice of any error

INTEREST OR DIVIDENDS.

DESCRIPTION.

Albermarle d-

59

BONDS.

AND

•#

,

For

STOCKS

CANAL

April, 1880.]

Coal & Navigation.—The Central Railroad of New Jersey
(in purchase of equipment) $2,310,000 of the gold loan due
1897, and leases the Lehigh & Susquehanna Railroad. The Lehigh A
Wilkesbarre Coal Company assumes $500,000 of the gold loan due 1897,
and $771,000 (all) of the convertible gold loan due 1894. The Board
of Managers’ report for the year 1897 has the following statement of
Lehigh

assumes

receipts and disbursements:
RECEIPTS.

$828,817

Railroads and NesquehoningTunnel

Lehigh Canal

51,930

.

.

19,830

Water Powers Lehigh Canal
Delaware Division Canal

47,589

profit on Lehigh Coal
Royalty on coal mined by lessees

Net

"

Revenue from rents
Profit realized from sales of real estate

190,622
1,961

33,943
5,760

3,393

Miscellaneous receipts

$1,183,848

Total
DISBURSEMENTS.

General and legal expenses
Rent and taxes Nesquehoning Valley Railroad
Rent and taxes Delaware Division Canal
Taxes chargeable to canals
Taxes chargeable to coal and coal lands
Taxes on capital stock
Taxes on landed property and improvements

Interest account

$51,333

138,000
118,867

1,730
49,179
14,131
12,411

923,958—1,309,612

$125,763

Deficit

The President remarked: “For the purpose of reducing our floating
debt and of providing means to meet other maturing liabilities, the
Board made sales during the year of $793,000 of the company’s con¬
solidated 7 per cent bonds, at an average of 88 per cent. The improved

and the advance in the market price of its securi¬
ties, enabled the Board to avail of a provision in the lease of the Nesque¬
honing Valley Railroad, and to reduce the dividends guaranteed byua

credit of the company,

the stock of that company. The right was reserved to us in the lease
to retire the stock at par at any time after ten years, which expired in
on

November, 1878. We notified the company in July of our desire to
avail of this right, and the result of the negotiations that followed was
the reduction for five years of the dividends from 10 per cent to 7 per
cent per annum

from September 1,1879, without cost to this company.

The rent is thus reduced to $97,000 per annum—a saving of $41,000
from the amount paid last year.” * * * “The floating debt was at
the close of the year $1,000,000, and there remain in the hands of the

$1,108,000 consolidated 7 per cent bonds in addition to the
The first installment of the debenture loan
extended in 1877 matured, and was paid, on 10th December.” (V. 28.
*
p. 198,224, 578; V. 30, p. 190.)
company

18,900 shares of stock.

.

Morris.—Leased

April,

1871, to Lehigh Valley Railroad for 999
and scrip, and pay 10 per cent
4 per cent on consolidated stock.

years.
The lessees assume bonds
per annum on preferred stock and
—(V. 12, p. 714.)

Pennsylvania.—Worked in interest of Pennsylvania Railroad, which

fnarantees interest on bonds. An old mortgage of $90,000 is due in
887.

Schuylkill Navigation.—Leased from June 1,1870, to Philadelphia &
Reading for 999 years, at annual rent of $655,000, including certain
Total liabilities........39,285,099 38,714,292 39,610,006 40,981,301 real ana personal property conveyed to Philadelphia A Reading. The
These miscellaneous assets include the following: Boston Hartford & dividend of August, 1879, was payable in Philadelphia A Reading Rail¬
Erie, 1,420 bonds, $1,254,268, less sinking fund, $435,738—$818,530; road scrip. (V. 22, p. 493 ; V. 26, p. 418.)
Jefferson RR. bonds (108), $86,660; Albany & Susquehanna consols
Susquehanna.—Leased
Philadelphia A Reading Rail¬
(610), $605,338; Delaware & Hudson Canal Co., 1,891 bonds (746), road for interest on bondsand operated bvearnings.
and half of net
$746,000; sundry assets, $402,022. Stocks as follows: 9,000 shares
Albany A Susquehanna, $900,000 ; 8,241 shares Rensselaer & Saratoga,
Union.—Stock, $2,907,850.
$822,137; sundry stocks, $100,012.

Profit and loss
*




1,048,323

.

MISCELLANEOUS

60
Subscribers will confer

a

great favor by giving Immediate notice of any error

DESCRIPTION.
For

BONDS.

A1STD

STOCKS

Date
of

or
par

discovered in tliese Tables.
Bonds—Princi¬

INTEREST OR DIVIDENDS.

Amount

Size,

[Voi/. XXX.

outstanding.
explanation of column headings, Ac., see notes on
first pag6 of tables.
Bonds Value.

Rate per
Cent.

When

Where

pal, Wlien Due*
Blocks—Laet

Payable, and by
Whom.

Pay’ble

Dividend.

.*

Adams

$100 $12,000,000

Express—Stock

American' Goal (Alaruland)—Stock
American Express—Stock
American Union Telegraph—Stock
Amie Consolidated Mining—Stock
Atlantic d Pacific Telegraph— Stock

25
100

‘

(3)
...

J

Boston Land—Stock. .7.. J*
Boston Water Power—Stock

10
100
10
50

5,000,000
15,000,000
800,000
4,291,650
2,128,000
717,875

1874

1,000

1873
Sterling bonds (sirking fund one-liftli of land sales)
1874
Mortgage bonds, gold, sixes (for $2,500.000)
Union RR., 1st mort., end. (sink, fund, rentson $220,163)
do
2d M., g., end., (s. f. ground rents on$144,800)
Caribou Consolidated Mining— Stock

£200

o

lOck
io

N.

Q.-j.

16*4

Canton Improvement—Stock

1st

mortgage, gold

1 Rt,

5

c.

1880

Dunleitfi d Dubuque Bridge—Bonds, sinking fund
Excelsio^ Water d Mining—Stock
1 omestakc Mining—Stock
Illinois d St. Louis Bridge— 1st mort., new, sinking
Tunnel RR. of St. Louis, stock

1,000
1,000

10,000,000

100
100
10
100

1,000
100

1864
1872

Tnnrtg’flgp, (non rertiblp)

1st mortgage, consolidated, convertible
Cumberland Coal d Iron—Stock
flf/ldwnnd Mining—Rtrtflf

783,000
600,000
1,000,000
10,000,000
2,400,000
2,000,000
10,000,000
3,500,000
10,250,000
387,000
753,000

100
300

Central Arizona Alining—Stock
Central New Jersey Land—Stock
Climax Alining—Stock
,
Colorado Coat'd: Iron—Stock
Consolidation Coal of Maryland—Stock

500 Ac.
500 Ac.
10

J.
J.
J.
M.

1868

500,000

400,000
10,000,000
10,000,000
5,000.000

1,000
100
100

fund..

1878

1,000

1,250,000

6 g.
lOcts.

7

Mar. 30,1880
Nov.

Boston, Office,
J. A D.

8*

1,073,000

Mortgage bonds (for $2,800,000)

Feb., 1880

Y., Company’s Office.
New York.

a.

7

575,000

1,000

Q-M. N. Y., Company’s Office. March 1, 1880
M. A S.
New York, Office.
Sept. 10, 1877
J. A J. N. Y., Company’s Office. Jan. 2, 1880

2

2^

1,500,000
18,000,000

12, 1872
June, 1884

do

& *J. London, Brown 8. A Co.
A J. New York or London.
A

Jan.
Jan.

1, 1904
1, 1904

J.

1900
March 1880

London.

A N.
New

York, Office.

New

York, Office.

Jan",’

scrip.

Q-F.
F.
M.
J.
J.
A.

1875

A. N.Y.,Company’8 Ag’ncy
8. N.Y., Co.’s Office, 71 B’y Jan. 2, 1877
do
do
J.
Jan., 1885
do
do
Jan. 1, 1897.
J.
New York, Office.
Oct. 15, 1875
0.
New York, Office.
April, 1880
M’nthly
M. A N. N. Y., at Ill. Cont. R. R.
Nov., 1893
Now York, Office. April, 1880
M’nthly
New York, Office.
April, 1880
M’nthly
A. A O. New York and London. April 1, 1928

6 g.

2^2
7
6

6
25 cts.

8
25 cts.
30 cts.
7
2

A
A
A
A
A

Nov.

17,1879

-

Adams Express— No reports; no information.
American Coal.—There are mortgage bonds for

$114,300. The annual
report for 1879 gives the following information:
Received for coal sold and delivered, earnings of canal boats,
rents and interest
$282,071
Coal on hand, value
18,005
$300,730

$180,812

Canal and railroad transportation

Mining, superintendence, labor, Ac
Shipping expenses, Alexandria, Baltimore and Jer¬
sey City
Taxes
Bond and

^

Legal expenses

;

Present
Total

surplus

assets

December 31, 1879—Lands and

7,004
13,109

297,058

$204,324
-3,678— 208,002
159

$207,843
real estate at mines,

30, p. 356.
Atlantic d

Pacific Telegraph.—Pools with Western Union their gross

the basis of 871e per cent to the West. Un. and 12*2 per cent
to the Atlantic & Pacific. The expenses were arranged at 134 4^ per
oent to Atlantic & Pacific and 86*8512 per cent to Western Union. In
February, 1880, there were reports of a proposed consolidation and issue
on

one share of Western Union stock for two of Atlantic & Pacific.
(V.
27, p. 280, 627; V. 28, p. 452.)
Boston land —The capital stock of 80,000 shares of the par value of $10
each, or $8,000,000, has been placed on the N. Y. Stock Exchange list.
The assets of the company are: Mortgages, loans and cash on Jan. 1,
1879, $89,085; Revere Beach Railroad stock, wharf in East Boston,

of

valued at $17,090; land in East Boston and Revere, about 800 acres,
unincumbered, estimated at $2,090,880; total, $2,197,055. There are
no debts.
(V. 29, p. 510, 537; V. 30, p. 90, 117.)
Boston Water Power—The shares have

strictly no par value. There
85,833 shares called “ proprietary” shares, or the number into which
the property of the company is divided, the assets consisting of lands
are




Consol^Mining.—This company 1ms 1,400 feet on the vein.
dividends yet paid.
New Jersey Land Improvement .—The report says that during

Caribou

pany’s lands. A further reduction of $100,900 was made in the capital
stock by canceling a thousand shares received in exchange for lands,
reducing it to $2,400,000. Of this amount outstanding the company

$1,542,305; real estate at Jersey City, $100,710; mine improvements,
$16,254; cash, $28,431; wharf improvement at Jersey City, $5,000;
personal property at mines, $33,731; personal property at wharves,
$3,335; bills receivable, $19,892; accounts, $62,246; canal boats,
$20,000; value of coal on hand. $18,065; office furniture, $513; Chesa¬
peake A Ohio Canal bonds, $9,000; C. & P. Railroad stock, $1,000; G. C.
& C. Railroad stock, $56,000; total, $1,916,545. Directors: James A.
Alexander, John P. Moore, Sidney Wintringham, Gardiner Llojd, Ben¬
jamin Williamson, Richard S. Grant, William J. Boothe, A. J. Akin,
David Stewart. Gardiner P. Lloyd, President; George Sherman, Secre¬
tary and Treasurer. (V. 30, p. 221.)
American Union Telegraph.—This company, organized under the
auspices of Mr. Jay Gould and associates, is making sharp opposition to
the Western Union. It is supposed to be started upon the theory that a
company with Lines to main cities only, and comparatively few offices,
can make such opposition to the Western Union as to compel that com¬
pany to buy it out at last.
It is built by a construction company, but
no information as to its finances is published.
In January, 1880, it was
reported that the American Union Company owned 12,000 miles of
wire in the United States between Boston and Omaha, connecting all
the principal cities of the North and West, all of which had been erected
8ince May, 1879. First-class material has been used. “ Nearly 40,000
miles of wire have been purchased, half of which has already been re¬
ceived and paid for, the average price for the whole lot being 20 per
cent less than the ruling price to-day, and the same conditions apply to
other material. In July'last about $300,000 worth of stock, out of a
capital of $1,000,000, of the Dominion Telegraph Company of Canada,
was purchased by the American Union Company, and in connection
therewith a lease was taken of the lines and property of the Dominion
Company for a term of 99 years. This connection gives an additional
12.000 miles of wire to the control of the American Union Company, and
includes the contract of the Dominion Company for exchange of busi¬
ness with the Direct United States Cable Company, whose cable extends
from Tar Bay, Nova Scotia, to Ireland. The American Union Company
has, in addition, concluded a twenty years’ contract for exclusive ex¬
change of business with Le Compagme Francaise du Telegraph de Paris
a New York, whese new' cable was landed on Nov. 17 upon the shores
of Cape Cod, near North Eastham, Mass. This cable extends from Cape
Cod to St. Pierre, Miguelon, and from thence to Brest, France, from
which point a cable connects w ith Penzance, on Land’s End, England.”
—(V. 29, p. 17, 461, 630; V. 30, p. 66, 90, 410.)
Amie Consolidated Mining— Stock is non-assessable. President, W. W.
McFarland; Vice-President, Hon. P. B. Plumb; Secretary, A. Ebert.
The financial statement, as made to Stock Exchange, will be found in V.
receipts,

near

Central
the last six months of 1879 an active demand sprang up

$3,678

Deduct uncollectible claim

432.

28,130

254-

Gains, 1879

Surplus, December 31, 1878
Add gains, 1879

and

p.

Central Arizona Mining—No

62,172
5,455

scrip interest to March 1, 1880
Salaries, office and contingent expenses

“ Back Bay,” in Boston.
Statement of assets, Ae., in V. 29,
(V. 27, p. 121; V. 29, p. 119, 432.)
Canton Improvement.—The annual report for the year ending May 31,
1879, is in V. 29, p. 65.
A brief history of the company w'as in V. 30,
p. 117. Of the $2,500,000 mortgage, $600,000 is reserved to pay ster¬
ling loan. The company owns the stock of the Union Railroad Company
and guarantees its bonds. (V. 27, p. 14; V. 29, p. 65 ; V. 30, p. 117.)
on

for the

com¬

still owns $25,500, held for the redemption of scrip as presented. The
dividend scrip has been reduced from $106,984 to $43,296, and as it is
desired to extinguish this scrip as speedily as possible, the request is
made to holders of the scrip that they will bring the same in for conver¬
sion into stock. The statement for two years ending December 31,1879,
show's total receipts in 1878 of $163,658 and in 1879 of $120,957. The
balance sheet December 31, 1879, gave the following values of lands
owned: New'ark lands, $390,584 ; Bergen, $617,622 ; Elizabeth, $169,-

150; Westfield, $26,307; Fanwood, $479,633; Plainfield, $347,976;
Dunellen, $345,398; Somerville, $77,861; Clinton, $4,780; Bloombury,
$26,345; Pbillipsburg, $861; total, $2,486,522. (V. 30, p. 117, 221.)
Climax Mining.—'The statement of the company to N. Y. 8tock Ex
change, January, 1880, said that the whole stock was paid for the mine
and developments thereon. The property is located on Fryer Hill, Leadville, Col. There have been expended on surface improvements $25,000,
and on underground improvements $20,000.
The company has paid
$60,000 in dividends. Dividends paid monthly up to February, 1880;
then

quarterly, beginning with May. The officers are: President, Hon.

David A. Wells; Vice-President, Mr. Samuel A. Strang; Treasurer, Mr.
William Bond; Secretary, Mr. W. B. Allen. (V. 30, p. 43.)
Colorado Coal & Iron.—This company, with headquarters at Colorado
Springs, Col., was a consolidation Dec. 13, 1879, of the Central Colorado

Improvement Co., the Colorado Coal & Steel Works, and the Southern

Colorado Coal A Iron Co. The company is controlled
Grande Railroad parties.
Stock is non-assessable.

by Denver A Rio

President, W. J.

Palmer; Vice-President, C. B. Lambom; Secretary and Treasurer, W. B.
GaskiU. (Vol. 30, p. 357.)
Consolidation Coal.—The annual report for 1879.was published in the
Chronicle of March 6, 1880, and contained the following:

receipts from mines, railroads, rents, Ac., (includ¬
ing value of stock of coal on hand) were
$1,614,945
Total expenses of every kind (exclusive of interest and sink¬
ing fund, but including steel rails and all extraordinary
The gross

1,258.382

outlays)
Net receipts
Net earnings after
1879 and sinking

:

deducting interest ,on bonded debt for
fund belonging to 1879, amounting to

$239,692

,

$356,563
116,870

the funded debt for the year
161,653
—Consolidated mortgage bonds are held to retire old Ixmds. Guarantees
also bonds of the Cumberland A Pennsylvania, and assumes $135,000 of
the Union Mining Company’s bonds. (V. 28, p. 301; V. 30, p. 247.)
Interest

on

Deadwood Mining—The

stock is on the N. Y. Stock Exchange list.

The

property is located in Whitewood District, D. T., consisting of the north
segregated 1,000 ft. of the GoldenTerra lode, and the north segregated 500
feet of the

Ophir lode.

The average monthly bullion product had been

$37,817, and the average monthly expenses $10,236,Jeavingan average
monthly profit of $27,581. The officers are: President, Joseph Clarke;
Vice-President, J. B. Haggin; Secretary, J. K. Goodrich. (V. 30, p. 66.)
Excelsior Water d Alining.—Stock placed on New York Stock Exchange
list Nov., 1879.
(See V. 29, p. 511,)
Homcstake Minina.—Property in Whitewood District, D. T., consisting
of Homestake and Golden Star mines, 1,350 feet long by 450 feet wide
on the vein; one 80-stamp mill and one 120-stamp mill; value, $500,000.
Receipts to January 1, 1880, $1,172,000; expended in development,
construction, Ac., $800,000. Present capacity of mill, 400 tons per day.
Monthly dividends 30 cents per share. Officers: President, Lloyd Tevis;
Vice-President, R. P. Lounsbery; Treasurer, J. B. Haggin; Secretary,
J. K. Goodrich.
Til. d St. L.

Bridge-Net income in 1876-7/$219,777; 1877-8,

$219,598;

1878-9, $269,697. The railroad and tunnel were sold under the mort¬
gage of 1873, July 1,1878, for $450,000. Foreclosure under the first
ana second mortgages on the bridge was made December 20,1878. The
above mortgage and $7,990,000 in stock are issued under the reorgan¬
ization. Of the stock $2,490,000 is first preferred, $3,000,000 second
preferred, and $2,500,000 common. The coupons due October, 1878,
1879 and 1881 on first mortgage bonds to be made in same bonds in
April, 1881. (V. 26, p. 420, 524; V. 27, p. 17, 227, 435, 461, 677; V.

28, p. 224; V. 29, p. 196 )

April,

MISCELLANEOUS

1880.]

Subscriber* will confer

a

AND

of column headings, &c., see notes
page of tables.

on

first

Date
of
Bonds

Iowa RR. Land Go—Stock
La Plata Mining <& Smelting—Stock

Size,

Amount

Par
Value.

1875

1,000

100
100

1,000
100

Pennsylvania Anthracite Goal—Stock
1st mortgage (east side) bonds on 1,053 acres
1st mortgage (west side) on 400 acres and 550 leased.
Pennsylvania Goal—Stock
1st mortgage bonds

1872

1,000

18G1

Pullman Palace Gar—Stock
Bonds, 2d series

’ioo
100

1871

Bonds, 3d series...

1872
1872
1878
1875

Bonds, 4th series
Bonds, debenture
Bonds, sterling debenture, convertible

Quicksilver Mining—Common stock

Preferred stock
8outhem <& Atlantic Telegraph—Guaranteed stock

Spring Mountain Goal—Stock, guar. 7 per ct. by L. V.
Standard Consolidated Gold Mining—Stock

Little Pittsburg Consolidated Mining.—The general manager, in liis
report of operations for the year ended Dec. 31, 1879—covering only
eignt months actual operation—gave the following ligurcs:
Ore receipts
$1,346,606
Total expenses and charges
^
$306,370
Dividends paid
850,000
Real estate purchased
26,000—1,182,370

Mariposa Land <6 Mining—Assessments made

on

time to time.

New Central Coal

following:

226; V. 26,

p.

the shares from

95.

(Maryland).—The annual report for 1879 has the

Coal Mined in 1879^
From Koontz Mine
From Big Vein Mine
From Midlothian Mine

Tons.

149,743 02
139,606 16
43,329 02

;

Total
Mined in 1878

332,739 00
352,847-14

Decrease.

20,108-14
Tons.

Coal
Coal
Coal
Coal
Coal

mined
mi ned
mined
mined
mined

in 1872....
in 1873
in 1874....
in 1875....

304,188 19
285,135-09
243,18605
258,85101
in 1876.... 240,23302

Tons.
Coal mined in 1877...
Coal mined in 1878...
Coal mined in 1879...

Total

STATEMENT OF PROFITS FOR TIIK YEAR ENDING

345,177 15
352,847 14

332,739 00

2,362,35905
DECEMBER 31, 1879.

December 31,1879, balance to credit of coal account
December 31,1879, coal on hand, at cost
.....$81,584
Less freights and taxes due
16,618—
^

Deduct amount paid for railroad and canal freights and tolls,
mining, office and shijjping expenses, salaries and interest..
Net earnings for the year
Balance to credit of profit and loss December 31, 1878

$1,053,712
64,965

$1,118,678
1,036,787

18746-950.

$81,890
$244,530

Deduct—

^

Dividend paid January 22,1879

Amounts charged against profit and loss during’79

111,905
$132,624

„

ict

Add¬

earnings for 1879.

81,890

Balance to credit of profit and loss December 31,1879
$214,515
Note.—The strike of the miners, lasting from September 1 to October
8, caused a suspension of mining during that time, increased the cost of
the coal, and reduced the company’s production and profits for the
year.
Officers for 1880: Malcolm Sinclair, President; William S. Jacques,
Vice-President; Philo C. Calhoun, Treasurer; Geo. n. Adams, Secretary.
(V. 26, p. 536; V. 30, p. 220.)
Rew York & Straitsville Coal <& Iron—Has $300,000 bonds.

admitted to New York Board April, 1880.

(V. 30,

p.

The stock

409.)

Ontario Silver Mining.—This company was incorporated under the
of California, December 16, 1876, with full paid capital stock of
100,000 shares of $100 each. The property is located at Parley’s Park,
oz miles southeast of Sait
Lake City, Utah, and consists of the Ontario
tome, l ,500x200 feet, the Switzerland, 1,500x200 feet adjoining east,
ana mill site of three acres
adjoining north. On January 26, 1877, the
40-stamp mill of the company was completed. From that time up to
January 1, 1880, the Ontario produced bullion to the value of $5,447,from which it paid all expenses; dividends to the amount of
vJ,oo0,000; made permanent improvements of over $1,000,000 in
value, with a handsome cash surplus and over 3.500 tons of ore, that
wUl
average $150 per ton, on hand on that date. The equipment is very
complete and affords facilities for mining to a depth of 1,500 feet. Ail




Jan.

1, 1886

J.

&

New York.
New York, Office.
New York.

J. N. Y.,

April, 1880
April, 1880
May 1, 1880
July 1, 1909

Farm. L. & Tr. Co.

Sept., 1808
N.

June 1,1892

Y., 4th National Bk.

June

N. Y., Ill Broadway,
do
do
New York, Office.
N.

820,000

199,000
218,000
5,708,700

1877
Feb. 15,

Y., Farm L. & T. Co.
do
do
d->
do

445,000

1,1892
May 1. 1880
Aug. 1, 1881
1880
May 15, 1881
Feb. 15, 1887
Aug. 15, 1892
Oct. 15, 1888
April 1,1885

do
do
do

do

Lond’n, J.S.Morgau&Co

4,291,300

948,000
1.500,000
10,090,000

N.Y., West. Union Tel
April, 1880
Y., Company’s Office. Dee. 10, 1879
Y., Company’s Office.' March, 1880

N.
N.

product had been from

some

above tin; 600-foot level.

1,300 feet of the Ontario mine alone, and

The product for December, 1879, was about
$165,000. The monthly dividends have been 50 cents per share, with
frequent extra dividends of same amount. New York office of the com¬
pany, 31 Broad street. Officers: J. B. Ilaggiu, President; R. P. Louns-

bery, Vice-President; J. K. Goodrich, Secretary ; II. B. Parsons, Assist¬
ant Secretary.
Oregon Railway £ Navigation.—Stock and bonds placed on New York
(V. 29, p. 512; V. 30, p. 289, 409.)

Stock Exchange list Nov., 1879.

Steamship.— In February, 1880,

ported between this

agreement was

an

re¬

and the Pacific Railroads, by which the
railroad company is to give to the steamship company a monthly subsidy
of $110,000, as against
$60,000]formerly. The contract is for live years,
and applies only to California) business.
It is understood that the
steamship company is to inaugurate a sinking fund of $10,000 per
month out of the subsidy money, which will more than liquidate the
debt due the Panama Railroad maturing in annual instalments from
October, 1884, to October, 1888. The railroad companies purchased the
China line steamers City of Pekin and City of Tokio for
$1,200,000,
payable in monthly instalments of $100,000, the purchase being subject
to an inspection of the steamers within 90 days; and the Pacific Mall
Company gave up to the Union and Central Pacific railroad companies
its China line. (V. 30, p. 249.) Report for 1878-9, V. 28, p. 552. (V.
28, p. 42, 97, 402, 552, 554, 580; V. 29, p. 512.)
company

Pennsylvania Anthracite Coal.—Stock and bonds admitted to N. Y.

Stock Board Feb., 1877.

Company failed Feb., 1879. (Yr. 24,

Pennsylvania Coal.—Liabilities at a minimum, and 12
paid. Payment of bonds will be anticipated, if desired.

p.

p. c.

112.)

dividends

Pullman Palace Gar.—Annual report V. 29, p. 329. The sterling
bonds of 1875, of which tho whole issue authorized is $1,000,000, are
convertible into stock till April, 1881.
The income account for year

ending July 31, 1879, showed total receipts of
which

$2,190,734, against

charged the following disbursements:
Operating expenses, including legal expenses, general taxes
aud insurance, maintenance of upholstery and bedding
(including leased lines), aud rebuilding association cars....
were

Rental of leased lines

Coupon interest on bonds
Dividends on capital stock

$165,890
471,056—

$958,465
261,000
C30,946

Total

$1,819, til
$3L7,323
For five years past a comparative exhibit of the receipts, expenses,
profits, unci surjiluH applicable to dividends, shows as follows:
Interest,
Revenue.
Profits.
Expenses.
rentals, <fcc.
Surplus.
$2,558,647 $983,340 $1,575,301
$550,357 $1,024,944
514,269
2,555,011
990,210
1,564,801
1,050,532
Surplus for the

year

2,570,639
2,160,830
2,190,734

985,072
878,578

1,585,567
1,282,252

493,579
451,860

1,091,988
830,380

958,465

1,238,269

429,890

808,379

-(V. 26, p. 217; V. 27. p. 302; V. 28, p. 200; V. 29, p. 329.)

$100,000

11,905—

March, 1880

Jan. 22,1879

.M’nthly
jM’ntbly
I Q—F.

Pacific Mail

Surplus
$164,236
To the surplus should be added about $40,000 due for ore delivered and
unsettled for during the year. There were 23,187 tons of ore produced,
from which a bullion product of $1,800,000 was estimated.
The re¬
port of Professor Raymond in April, 1880, was. in substance, that the
old ground was worked out bv February, 1880, and the value of the
mine depends on new beds of ore to be found, of which the prospect
was very good.
(V. 30, p. 67, 273.)

1880

Jan. 1. 1876
Nov. 1. 1906

328,000

£100
100
100
25
50
100

1.

iv

Jan., 1880

York, Office.

New York.

5,938,200

1,000
1,000
1,000
1,000

low a Railroad Land.—This company manages the land grants of
five distinct organizations. The total land owned was 530,217 acres
March 31, 1877.

& J.

VI

April 1, 1880

1^
.7

500,000
5,000,000
462,500
2,500.000

50

Producers' Consolidated Land <£ Petroleum Stock

New

2,000,000
1,000,000

i',6oo

1872

Stocks—Last
Dividend.

Boston, Treas. Office.
New York, Office.
New York, Office.

50 cts.

J.

pal,When Due

Whom.

Q.—F.

2,500,000
5,100,000
1,500,000
10,000,000
6,000,000
6,000,000
20,000,000

100

Payable

15 cts.

171,000

100
100

1879

Bonds—Princ

Where Payable, and by

7*2 cts. M’nthly

(?)
4,400,000

1,000

Montauk Gas Goal—Stock
New Central Goal— Stock
New York <6 Straitsville Goal <& Iron—Stock
Ontaino Silver Mining— Stock
Oregon Railway <£ Navigation— Stock
Mortgage bonds, gold
Pacific Mail Steamship—Stock

When

1L>

$7,620,000
2,000,000
2,000,000
20,000,000
10,000,000
5,000,000

100

Bonds

Rate per
Cent.

Outstanding

10
10
100
100
100

Maryland Goal—Stock....

p.

61

INTEREST OR DIVIDENDS.

or

$100

Leadville Mining—Stock
Little Pittsburg Consolidated Mining—Stock
Mariposa Land <& Mining—Stock
Preferred stock
Mortgage bonds (lor $300,000)

Maryland Coal.—W. 24,

BONDS

great favor by giving Immediate notice of any error discovered In these Tables.

DESCRIPTION.
For explanation

STOCKS

Quicksilver Mining.—Bonds paid off July, 1879.

Validity of preferred

stock sustained by N. Y. Court of Appeals, and in March, 18 SO, the
pref. stock was adjudged $2,683,284, or $62 52 to each share. (V. 27, p,
228 ; V. 29, p. 302; V. 30, p. 314, 409.)

Spring Mountain Coal Co.—This is guaranteed 7 per cent per year till
Lehigk Valley Railroad.

1885 by

Mi ninoT^TElJr'Sompan y was incorporated
The property embraces an
contained within the surface lines of a parallelogram 1,200 by

Standard

Consolidated

under the laws of
area

California, April 7, 1877.

1,500 feet, situated on the southern slope of Bodie Bluff, in the Bodie

January,

1880, at a cost of about $150,000. This is a 30stamp mill of 90-ton capacity, giving the Standard Company, with their
owu mill, a reduction capacity of over 100 tons per day,
There are two
sets of steam hoisting works, one costing $5,000 and the other something
over $100,000.
The total number of tons of ore extracted and reduced
up to Jan. 1, 1880, was 56,000, the yield from which being $3,360,000,
all with the exception of about $200,000 being in gold; the ore averages
$60 per ton. Cost of mining, $7; milling, $5 per ton. The average
completed in

monthly product recently has been $130,000.

Of the total product of

the mine stockholders bad received in dividends to

January 1, 1880,
The enf} e width of the claim—1,200 feet—is said to be
seamea with well-dcVaed parallel ledges, varying in width from two to
twenty-five feet. Office of compaay, San Francisco, Cal. President,
Daniel Cook; Vice-President, M. K. Cdok; Secretary, William Willis.
Financial Agqnts, Dickinson Bros., Bankers, 43 Exchange place, N. Y

$2,017,776.

Subscribers will confer a

great favor by

giving immediate notice of any error

explanation of column headings,
page of tables.

Date

<fce., see notes on first

Size, or

of

Par

Bonds

Value.

Amount

Rate per
Outstanding
Cent.

68179476881118672.
Eulro

Tunnel—Stock

Mortgage bonds (for

[Vol. XXX.

discovered in tltese Tables.
Bonds—Princi¬

INTEREST OR DIVIDENDS.

DESCRIPTION.
For

BONDS.

MISCELLANEOUS STOCKS AND

62

$10 $18,920,000
600,000
i‘oo
7,000,000
5,000,000

Where

When

$2,000,000)

United States Express—Stock
United Slates Rolling Stock—Stock

Bonds, coup, or reg., conv. till May, ’85, sink. fd. 1 p. ct.
Sterling bonds, coupon (sinking fund lp.ct. per annum)

1872
1875
1875

1,000
1,000

3,920,000
961,308

£100&c

Comstock Lode for facilitating mining oper¬
elected March, 1880. Annual report pub¬
lished in Chronicle of April 24, 1880. See V. 30, p. 249. (V. 27, p.
529; V. 28, p. 147, 224, 302; V. 30, p. 249.)
United States Express—No reports.
United States Rolling Stock—See reports, Y. 26, p. 289; V. 28, p.
Suiro Tunnel.—Tunnel on
ations. New management

145.

41,073,400
1,373,000

$6,250,-

Wells, Fargo <£- Company Express.—An increase in capital to
000 was made in 1879.
(V. 28, p. 18.)
Western Union Telegraph—On the practical consolidation with the
Atlantic & Pacific in 1878 the Western Union had a monopoly of tele¬

Dividend.

....

....

6,250,000

100
100

Wells, Fargo <£ Company Express—Stock
Western Union Telegraph—Stock
Real estate bonds, gold, sinking fund

Stocks—Last

Whom.

Payable

London.

'

1879

pal,^When Due.

Payable, and by

i

New York, Office.
M. & S. New York aud London.

Q.—F.

Jan.
Feb.
Mar.
Jan.

1, 1891

15, 1880
1, 1880

15, 1880
York, Office.
April 15, 1880
York, Office.
May, 1902
7 g. M. & N. N. Y., Union Trust Co.
May, 1900
M. & N. N. Y., Treasurer’s Office
6 g. M. & 8. London, Morton, R.& Co March 1,1900
J.

4

& J.

Q.-J.

1^

New
New

re
$

From which surplus there was appropriated—
For construction of new lines and erection of

additional wires

purchase of sundry telegraph stocks,
patents, &cFor payment of balance unpaid July 1, 1878,
on account of purchase of Atlantic & Pacific
Telegraph Co.’s stock

$138,319

For

Balance

-.

145,134
537,166-

$820,620
683,268

$4,269,778

$683,268, together with the balances of previous
graphing business in the United States. In 1879 the American Union years, is represented in the profits and disbursements of the company,
for thirteen years, from the date of the general consolidation—July 1,
opposition line was started under the auspices of Mr. Jay Gould. The
Western Union Co. divided up its surplus stock, making a scrip dividend 1866:
17 per cent to stockholders of record June 20,1879. The lmst quarter¬ The surplus of income account July 1,1866,was
$275,357
The net profits for thirteen years, from July 1,
ly statement for quarter ending April 1, 1880, had the following:
Surplus Jan. 1, 1880
$1,107,927 1866, to June 30, 1879, were
40,203,602
Net profits for the quarter ending Dec. 31, estimating the
business for December (reserving amount sufficient to
$40,478,959
Making an aggregate June 30,1879, of
meet the claims of tho Atlantic & Pacific Telegraph Co.,
During this period there was applied—
under existing agreement), about
1,325,071 For
dividends, interest, &c
24,947,792

$2,432,988

Total

From which

Interest

on

appropriating—

bonded debt

$107,200
480,000

&

Construction, patents, &c
Sinking fund appropriations
Leaves a balance of
A dividend of 1% per cent

20,000—

607,200

$1,825,798

1

..

717,560
Deducting which, leaves surplus, after paying dividend, of. $1,108,238
From

the

last

requires

annual report published in the

Chronicle, V. 29, p.

for the fiscal year ending June 30,1879:
(after reserving amount sufficient
Pacific Telegraph Co. under exist¬
as follows:

379, the following was given

The revenues, expenses and profits
to meet the claims of the Atlantic &

ing agreements) were
Revenues accruing to this company
Expenses chargeable to this company
Net profits
From which there was applied—
For four quarterly dividends
For interest on bonds
For sinking funds appropriations

Leaving surplus of net revenue for the year
over divid’ds, int. and sink, f’ds appropriate




$10,078,897

5,809,119

$4,269,778

$2,295,304
430,528

40,056

$1,503,888

$2,765,889

“The balance of

$15,531,167

Leaving a surplus of

—which is represented by construction and purchase of new lines, stock
in other companies, &c.
The following statement shows the mileage of
lines and wires, number of offices, and traffic of the company, for each
year from June 30, 1866, to June 30, 1879 :
Net
No. of MesMiles of Miles of No. of
Wire. Offices. sages Sent.
Receipts. Receipts.
Years.
Line.

37,380
46,270

50,183
52,095
54,109
56,032
62,033
65,757
71,585
72,833
73,532
76,955
81,002
82,987

75,686
85,291
97,594
104,584
112,191
121,151
137,190
154,472
175,735
179,496
183,832
194,323
206,202
211,566

—(V. 28, p. 277, 592
410.)

Y.

2,250
2.565
3,219
3,607
3,972
4,606
5,237
5,740
6,188
6.565
7,072
7,500
8,014
8,534

29, p. 278,

$
6,568,925 2.624.919
5,879,282
7,004,560 2,641,710
6,404,595
7,316,918 2,748,801
7,934,933
7,138,737 2,227,965
9,157,646
7,637,448 2,532,661
10,646,077
12,444,499 '« 8,457,095 2,790,232
9,333,018 2,757,962
14,456,832
9,262,653 2.506.920
16,329,256
9,564,574 3,229,157
17,153,710
18,729,567 10,034,983 3,399,509
9,812,352 3,140,127
21,158,941
9,861,355 3,551,542
23,918,894
25,070,106 10,960,640 4,800,440
379, 461, 632; V. 30, p. 193, 264,