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OS’ T HK
C ommercial & F
inancial
C hronicle.
[Entered according to act of Congress, In the year 1886, by Wm. B. Dana & Co., in the office of the Librarian of Congress, Washington, D. C.]
YOL. 42.
NEW
I N V E S T O R S ’
YORK, APRIL 24, 1886.
TERM S:
The Supplement is published on the last Saturday of every other
month—viz., February, April, June, August, October and December;
and one copy of each issue is furnished, without extra charge, to all
regular subscribers of the Commercial and Financial Chronicle.
Additional copies of any issue are sold to subscribers at 50 cents each,
and to persons not subscribers at $1 each. No subscriptions are taken
for the I nvestors’ Supplement apart from the Chronicle. Annual
subscription price to the Chronicle , including the I nvestors’ Supple
ment, is $10 20.
W IL L IA M
CUMULATIVE BONDS AND STOCKS.
S U P P L E M E N T .
IS. D A N A
& CO., P u blish ers,
79 < 81 William Street, New York.
&
One of the features in the investment world recently
has been the active demand and great rise in price of a
number of cumulative income and debenture bonds.
The
cumulative property of a stock or bond which for the
moment is returning nothing to its holder is not likely to
attract attention in times of depression, when the disposi
tion is to underrate and undervalue everything, and to see
nothing but the dark side of the picture. It is not unusual
at such a time to hear the specious argument that since
the company is not able to pay current interest or divi-
RAILROAD MAPS IN THE SUPPLEMENT.
T h e r a ilro a d m a p s n o w
p u b lis h e d in th e S u p p le m e n t
in c lu d e th e f o llo w in g ro a d s .
Map .
P age
Alabama N. O. & Texas Pac, June. See Cinn. N. O. & T.P.................. 36
Alabama Great Southern. See Cincinnati N. O. & T. P ....................... 36
Atchison Topeka & Santa Fe.................................................................... 15
Atlantic & Pacific. See Atchison Topeka & Santa Fe.......................... 13
Baltimore & Ohio......................................................................
18
Canadian Pacific................................................
22
California 8ou them. See Atchison Topeka & Santa Fe................ ...... i5
Central Branch Union Pacific. See Missouri Pacific ......................... 62
Central Pacific. See Southern P a cific..... 1 . . . .. ................................... 85
Chesapeake & Ohio................................................................................ . 25
Chesapeake Ohio & Southwestern. See Chesapeake & Ohio........... .. 25
Chicago & Eastern Illinois.........................................................................2 8
Chicago Milwaukee & St. Paul......................
30
Chicago & Northwestern............................................. , ...........................3 2
Chicago St. Louis & Pittsburg. See Penn. R R ..................................... 74
Chicago St. Paul Minn. & Omaha. See Chicago & Northwestern....... 32
Cincinnati Indianapolis St. Louis & Chicago.......................................... 3 4
Cincinnati New Orleans & Texas Pacific ............................................. 3 6
Cincinnati Washington & Balt. Nee Baltimore & Ohio........................ 18
Colorado Central. See Union Pacific..................................................... 90
Columbus Hocking Valley & Toledo........................................................ 3 9
Delaware Lackawanna & W estern.................................
41
Denver South Park & Pacific. Nee Union Pacific.................................. 90
Dubuque & Sioux City. Nee Illinois Central.......................................... 49
East Tennessee Virginia & G eorgia.........................................................4 4
Erie & Pittsburg. See Penn. RR.................................. .......................... 74
Evansville Terre Haute < Chicago See Chicago & Eastern 111........ 28
te
Galveston Harrisburg & San Antonio. See Southern Pacific............. 85
Grand Rapids & Indiana. See Pennsylvania R R ................................. 74
Gulf Colorado & Santa F e ................................................................
47
Houston & Texas Central. See Southern Pacific.................................. 85
Illinois Central............................................................................................. 4 9
International & Great Northern. See Missouri P a cific....................... 62
Iowa Falls & Sioux City. See Illinois Central....................................... 49
Louisville & Nashville...............................
•
55
Louisville New Orleans & Texas.............. ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! . ! ! . 57
Memphis & Charleston. Nee East Tennessee Virginia & G eorgia_ 44
_
Mineral R ange..............
60
Missouri Kansas & Texas. See Missouri P * a c ifl7 !!!..!.7 !!!!!!!!!!!!!! 62
Missouri Pacific.......... ..............................
62
Mobile & Montgomery. See Louisville" & Nashville.! ! ! ! ! . I. . . . . . . . . .. 55
Nashville Chattanooga & St. Louis. Nee Louisville & Nashville ___ 55
Nashville & Decatur. Nee Louisville & Nashville...........
............ 55
Nevada Central.See Union Pacific............................................................ 90
New York Lackawanna & Western. See Del. Lack. & West............... 41
Norfolk & Western.......................
68
Northern Central. Nee Penn. R R . ! ! ! ! ! ! ! ! ! ! ! ! ! ! . .......\ " ......... ! ’ ’ !!. 74
Northern Pacific..................................*
'
” *
71
Oregon Short Line. See Union "Pacific ’ ! ! ! ! " ! ! ....................................! 90
Ohio & Mississippi. See Baltimore & Ohio............................................18
Pennsylvania...............................
. . . .
74
Philadelphia & Erie. Nee Penn RR " 7 * ," * .!............................. ! ” ’ 74
Pittsburg Cleveland & Toledo. See Baltimore & O hio.77.7.7.. 7.. 7.. 18
Pittsburg Cincinnati & St. Louis. Nee Penn. RR ..
.
. 74
Pittsburg Ft. Wayne & Chicago. Nee Penn. R R ___
... * ’ ............74
Pittsburg & Western. Nee Baltimore & Ohio
...
.. .
18
Shenandoah Valley. See Norfolk & Western
‘
68
South & North Alabama. See Louisville & Nashville .." ............. 55
St. Louis & San Francisco....................................................................... 81
St. Louis Vandalia & Terre Haute. See Penn! RR- 77................. !* !. 74
St. Paul Minneapolis & Manitoba................
83
Southern Pacific............................ ...............
................ .................... 85
Toledo & Ohio Central. See Columbus Hocking Valley &'Toledo ! ! ! ! 39
Texas & Pacific. See Missouri Pacific............ .
62
Toledo Ann Arbor & North M ich..................
.................................. 88
UnionPacific.......................................... . .. ......................................... 9 0
Utah Central. See Union Pacific.. 7 . . ! ! . ! " ! ! ......................................... 90
Utah & Northern. See Union P a cific............... " 7 ........................... ’77. 90
Vicksburg & Meridian. See Cinn. New Orleans < Texas Pacifio!! ! . . . 86
fc
Vicksburg Shreveport &Faoifle. See Cinn. New Orleans & Tex. Pac. 36
dends as they accrue, it is folly to talk of paying accumu
lations of the same.
But such a view can only hold for a
time, and is soon seen to be only partial, especially in a
country like the United States, where we have not only
extreme fluctuations in prices and income, but where also
the growth and development of the country keeps steadily
adding to the volume of internal transportation, and calls
new and enlarged facilities into requisition, so that the
bankrupt properties of one generation often become the
prosperous dividend-earning investments of another gen
eration.
Hence it happens that as soon as business begins to show
signs
of
recovery, the question
whether a non-paying
preference stock or bond has the cumulative property
attached to it is given increased importance.
W hen the
awakening comes, the fact that nothing is being paid for
the time being is by no means accepted as a reason why
the security may not in the future earn interest regularly
and also take care of the unpaid accumulations of the
past.
Especially is this true where the bond or stock in
question is not far behind some other security on the same
property on which payment is regularly made.
But it is not merely the securities whose interest is
optional or dependent on earnings that stand alone in this
respect.
The popular view with regard to bonds
on
which annual payments are obligatory, but have for one
reason or another not been met, is much the same—
extremely despondent at one time and the reverse
another.
at
Let a company get into financial straits and
default on the interest of its mortgage bonds, and the
public at once comes to the conclusion that all hope and
prospect of future interest are gone, albeit the difficulty
may only be a temporary one.
If the default continues at
several successive periods, and thus the bond after a while
carries a large amount of back interest, that is entirely
disregarded and treated as if it did not exist.
Y e t it not
infrequently happens that such interest is subsequently
settled for in full.
W e had an excellent illustration of
this in the case of the Erie second consols, which in June
last sold down to 45, notwithstanding that they then carried
three back coupons, or 9 per cent of accumulated interest,
2
INVESTOKS’ SUPPLEMENT.
f V ol . X L II.
this latter by the public being regarded as of no account debentures are very plentiful, but in this country they are
since it was in default. But before the close of the year scarce; and of bonds of this class in arrears of interest
came the proposal to pay the December coupon in cash, there are very few indeed, but as a type of the latter we
and to fund the three coupons in default as well as that
may mention the Richmond & Danville debentures, on
for June, 1886, into a new species of bond bearing 5 per
which the feature of overdue interest was a year ago
cent interest and secured by a deposit of the coupons,
apparently not considered at all by the investing public,
which new bond now commands about 90 in the market.
the bonds then selling at 52, but which now have advanced
The result was not only that the defaulted coupons were to above par, stimulated by reports that the arrears
proved to have a value, but that the price of the second of interest, reaching 18 per cent, would be provided
consols went up from 45 to 105, and now stands, ex all for, and also by the rumor that a new 5 per cent mort
coupons, at about 87. Of course there was an exceptional gage bond was to be given for the present bonds.
reason for the change in the settlement of the trunk line diffi
Then there are the ordinary income bonds, which form
culties, which had been the main cause of the default; but
a class by themselves. These are much more common, but
the bond in question is a good illustration of the import,
it can hardly be said that they are popular, though the
anee of such an accumulation of interest where there is number is being added to from time to time. They are
any chance of its being made available in the future.
less desirable (that is, from the standpoint of a person
Defaulted bonds, however, constitute a class by them who buys them for the return they yield) than either of
selves, quite distinct from those where interest is withheld
the other two classes— the debentures or preferred stock
It will not do to conclude that — and for obvious reasons. In the first place, not being
all defaulted bonds are to be placed in the same category possessed of voting power the holders can not exercise any
because not compulsory.
with the Brie seconds. The position of each must be control over the property and therefore are clearly at a dis
determined by its own circumstances, conditions and sur advantage as compared with preferred stockholders, whose
roundings. In the vast majority o f cases of defaults, shares can be voted on. In the second place, they are
where the bond has reasonable prospects, the back inter usually strictly non-cumulative, and if the interest in any
est, on settlement or reorganization, is taken into con-
year is lost, it is permanently lost, and cannot be recov
sideration, and some allowance made for the same; but this
ered out of the earnings of subsequent years.
does not happen in every case.
For instance, the old
railroad managers as a rule seem to have less respect even
W est Shore bondholders got nothing for past interest.
for the rights of income bondholders than they have for
Finally,
On the other hand, in such instances as that of the East
the rights of the holders of preferred shares— in fact it is
Tennessee and the Denver & Rio G-rande (we mean the
the usual disposition to treat them as if they had no
1st consols in both cases), not only Í3 the back interest
rights.
fully taken care of, but other valuable considerations given
clearly that the interest on the same is to be paid if earned»
besides.
The terms of an income bond may state very
and the accounts of the company may as clearly show that
The holder, however,
of a defaulted bond has this
the interest has been earned; but managers will neglect or
decided advantage, that sooner or later some plan of set refuse to pay it all the same.
tlement will be determined on, and then he will know
In the case of preferred
stock, under similar circumstances, it might be deemed
just what to expect.
The terms may not be altogether worth while to offer an explanation, but in the case of an
satisfactory, but at any rate he will no longer be left in income bond no excuse, or justification, is considered needoubt. Not so the holder of a security where the pay. essary.
ment of interest is optional, or conditioned upon a con
The fact that income bonds are an undesirable form of
tingency which those in control of the property can inter security, and that this operates against their price, seems
pret according to their own inclinations and desires. In to be causing some of the companies to change them into
such a case an investor may be kept out of his interest
other classes, as the Rome Watertown & Ogdensburg is
year after year, without any apparent remedy.
out with a scheme for exchanging its income bonds part
I f the
interest is not cumulative— that is, does not keep accruing into new consol mortgage bonds and part into stock, and
against the company, if unpaid— the loss to the investor it is stated that the Virginia Midland incomes are also to be
of course is complete.
offered an exchange into 5 per cent mortgage bonds ;
bonds
and the offer of such an exchange is undoubtedly owing
and preferred stocks as a whole may be of interest in this
A
few remarks
bearing
upon non-mortgage
to the single fact that the interest on these incomes is
connection.
strictly cumulative.
The securities we have in mind may be
broadly divided into three general classes— income bonds,
To the third class belong shares of preferred stock. The
debenture bonds, and preferred stocks with or without the
character of a stock (whether preference or * ordinary) is
cumulative feature.
Of these, debenture bonds (unless clearly known, and the stock comes in for a share of earn
there is an express provision to the contrary) bear interest ings only after all charges of every kind have been met in
as a matter of course and therefore are of necessity cumu full. The privilege and prerogative of a preferred share is
lative.
They are much like an ordinary note on which
interest accrues and is not being paid.
This peculiarity of
to come in before any other kind of stock.
But there are
various kinds of preferred shares. Some have a first prefer
a debenture bond it is well to bear in mind, for the cumu ence only on the earnings of each particular year, and if
lative property in such cases would not seem to require nothing is paid or earned in that year, there can be no claim
particular specification. Of course some debenture bonds for the dividends of that year upon the earnings of any sub
may be essentially income bonds in every particular, and sequent year. On the other hand, some have a first pref
interest be not at all cumulative, but unless there is such erence upon the earnings of each and every year till all
a reservation, all interest must be paid up in full where arrears of dividends are paid— that is are cumulative.
in arrears before anything can be paid on stock or other
A nd of either kind, there are different varieties. So every
inferior securities.
company’s shares must be examined separately, and the
Plain debenture bonds have latterly
come into favor among some prominent companies of high
peculiarities, properties and conditions of each carefully
standing,
determined.
and both
Burlington
&Quincy
,
commanding
the New Y ork
Central and
the
have 5 per cent bonds of this class,
1 0 9@ 1 10
in
the
market.
In
England
The same may be said, too, of incomes and
debentures, for there are a great many species of each.
Much depends upon the character of the bonds, and much
3
INVESTORS’ SUPPLEMENT.
A pril, 1886.1
more upon the Company, and this should always be borne
shares are not cumulative. In England just now some set
tlement of the dividends on Ohio & Mississippi preferred
in mind.
The legal status of an income bond or a preferred stock shares is being urged, the accumulations reaching no less
in all of its bearings can hardly be said to be positively thafi 70 per cent.
established, and consequently the rights of holders in some
cases are involved in doubt.
A s to the manner of expressing the terms of preference
Suppose the clause with to preferred shareholders, or the method of stating the
regard to interest or dividend payments reads, “ holder is cumulative property, we may quote, in illustration, from a
“ entitled to — per cent each year out of net income over
number of the share certificates of leading companies.
“ and above expenses and all fixed charges,” with no other Here is the preference in the case of the Ohio & Missis
reference— what then is the position of holders?
It will sippi preferred stock.
happen not infrequently that managers will use the earnings
“ The preferred stock is to he and remain a first claim upon th e
property of the corporation, after its indebtedness, and the holder thereof
for other purposes and pay nothing to the holders of the shall he entitled to receive from the net earnings of the company 7 per
cent per annum, payable semi-annually, and to have such interest paid
securities in question.
In that contingency, can the hold in full for each and every year before any payment of dividend upon the
common stock.”
ers enforce payment ? Of course each case must stand
The St. Louis Alton & Terre Haute shares are cumula
upon its own merits, and if any reservation of earnings is
tive, as already^'stated, and the fact is expressed in no
made or allowed the management at their discretion, the
uncertain way in the certificate, as follows.
position of holders must be governed by that fact. But
if there is no such reservation, and the question raised is
the simple one here supposed, all would hinge upon the
construction placed upon the words “ net earnings,” as to
“ This stock is entitled to dividends at the rate of 7 per cent per annum
* * * and in case said dividends cannot be regularly earned and paid,
as above stipulated, all arrears are to be paid as soon and as fast as the
net income of the company will allow, and no dividend is to be made on
the general stock of the company until such arrears have been paid.”
which there appears to have been no settled adjudication,
The New Y o rk Susquehanna & Western preferred
the Pacific railroad case, on account of the peculiar rela shares are also cumulative, and so stated to be in unequiv
tions existing between the Pacific roads and the Govern, ocal language. Subjoined is the precise wording of the
ment, being, we suppose, scarcely applicable. There is certificate.
hardly room for doubt, however, that if properly presented
“ The holder of this preferred stock shall be entitled to receive from
to them, the courts would enforce a more rigid observance the net earnings of the company dividends of six per cent per annum,
which, in case of default, are cumulative, and to have such dividends
of the terms of the contract between the holders and a with all arrearages if any, paid in full before the declaration or payment
of any dividend upon the common stock.”
company than managers are wont to observe.
In confir
mation of this view, we may refer to the decision in the
case of the Erie preferred shareholders (Judge Wheeler,
U . S. Circuit Court), where the judge affirmed that the
profits that belonged to the preferred shareholders “ could
“ not be passed by for the benefit of other interests, how“ ever intimately connected, any more than other property
“ of the preferred stockholders could be appropriated to
The New Y ork Lake Erie & Western preferred shares
are not cumulative, and yet we have seen that the Court
has decided that where there are any profits in the sense
contemplated by the contract, these profits must go to the
preferred shareholders and cannot be passed by for the
benefit of other interests.
That part of the article of
incorporation referring to this matter reads.
“
the holders to non-cumulative dividends, at the rate o 6
“ the same purpose.” Of course in many cases the meaning per Entitlingannum, in preference to the payment of any dividend fon
cent per
of net earnings is defined with great distinctness in the the common stock, but dependent on the profits of each particular year
as declared by the board of directors.”
share certificate or the act of incorporation, and in such
cases, therefore, no judicial interpretation is required.
There is one other question connected with the same
subject, and that is as to what course it is best to pursue
where interest or dividends are cumulative but no cash is
earned.
W ould it not be a good idea to pay the dividend
or interest each year in scrip, non-interest bearing if
necessary, or in the same kind of security as the bond or
stock itself.
That would avoid heavy accumulations and
their distribution at one time in a big lump, and would
enable the holders to realize something each year on their
property.
For instance,
suppose a preferred
stock is
Northern Pacific preferred stock “ is entitled to divi“ dends, non-nccumulative, not exceeding 8 per cent per
I annum, as the net earnings of each year may suffice to
“ pay,” and the term “ net earnings ” is defined at length in
the plan of reorganization, according to which the com
pany has the right to provide additional equipment out of
earnings.
In the case of the Minneapolis & St. Louis the certifi
cate reads.
“ This preferred stock is entitled to a preference of seven per centum
(non-cumulative) in the dividends declared in any year, before any
dividends are paid upon the common stock.”
cumulative, but the company is earning nothing more than
But as already intimated the peculiarities and charac
its ordinary charges and a fair working balance, would it
teristics of a stock or bond are often modified by the
not be well to pay such dividend each year in shares of
character or disposition of the parties in control.
the same kind of stock, thus allowing the holder to get the
course the certificate determines the nature of the contract
same percentage of the par on the dividends as on the
existing, but where holders are slow to assert their rights
stock.
Or if that is objectionable, let plain scrip be issued,
Of
and managers still slower in granting them, it is possible
We
for the latter to make the contract practically nugatory,
are not now arguing in favor of the cumulative plan.
and where there is no definite provision for settling arrears
which would always bring something in the market.
Except in special instances, the plan is obviously undesir of interest, holders are altogether dependent upon the
able, and had better not be introduced. But where it does managers as far as concerns giving practical effect to the
exist, some such method of treating it might be preferable
cumulative feature. The greater number of preferred stocks
to allowing it to grow up and become a source of embar and income bonds are non-cumulative, and to avoid any
rassment to the company and subject to abuse on the part possibility of doubt, in the case of the newer corporations
of the managers.
A
notable instance— at once of the
the term non-cumulative is usually specifically introduced.
value of the privilege and the difficulty companies are
W ith reference to preferred shares as a whole, and the
beset withjihat have to provide for it— is seen in the case
terms and characteristics of each, as they appear in our
of the Alton & Terre Haute preferred shares, where 55
market, the S u p p le m e n t of October, 1883, had a long and
per cent of accumulated dividends were in 1881 paid in
detailed article, to which those desiring information with
bonds.
regard to any particular rQ&d hQt mentioned above are
The St. Paul (in 1876) also paid 14 per cent back
dividends on the preferred shares in bonds, though these
referred,
U N IT E D
DESCRIPTION.
4s of 1907, coupon and registeerd.....................
4*28 of 1891, coupon and registered..................
3 per cents, registered...........................................
Currency 6s, registered.........................................
Author Size or
par
izing Act.
value.
STATES
Amount
outstanding.
BONDS.
INTEREST.
When
pay’ble
Rate.
1870 & ’71 $50&c. $737,750,800 4, coin.
50&c. 250,000,000 4*2, coin.
1870 & ’71
July 12,’82 50&c. 174,092,100 3, coin.
J’y ’62&’64 1000&C.
64,623,512
6
All the Got eminent bonds except the currency sixes are redeemable
in coin, what sort of coin not being specified. The fours and four and a
halfs are issued in bonds of $50, $100, $500 and $1,000, both coupon
and registered issues, and the registered bonds also in pieces of $5,000,
$10,000, $20,000 and $50,000. The three per cents are redeemable at the
pleasure of the Government, and are all registered bonds in sizes of
$50, $100, $1,000 and $10,000. These bonds when called in are taken
in the order of their numbers, the highest numbers, or bonds last issued,
STATE
Where payable and by
whom.
Q .-J . U. S. Treasury & Sub Treas.
do
do
Q .-M .
do
do
Q .-F .
U. S- Treasury.
J. & J.
Principal—When
due.
July 1,1907
Sept. 1. 1891
' At will.
1895-6 7-8-9
being called first. The United States currency sixes are all registered,
issued in pieces of $1,000, $5.000 and $10,000, are payable in “ lawful
money,” and mature as follows: $3,002,000 in 1895, $8,“ 00,000 in
1896, $9,712,000 in 1897, $29,904,952 in 1898 and$14.004,560 in 1899.
The interest on registered bonds is mailed by check directly to the
holders or to any address requested by the registered holders; the bonds
are transferred by acknowledging the assignment before a notary or
other official specified.
SE C U R IT IE S .
Subscribers w ill confer a great favor by givin g Im m ediate notice o f any error discovered In tbese Tables.
DESCRIPTION.
Date of
Bonds.
Alabama—Substitution bonds (A) ($7,000,000).
1876
Substitute b’ds for RR. (B) ($596,000)............
1876
do
for Ala. & Chatt. (C) ($1,000,000)
1876
Funding “ obligates” (tax-rec’ble 10-20 yrs.).
1880
Arkansas—Funding bonds of 1869 and 1870.. 1869 t o ’70
Funding Bonds 1870 (Holford)..........................
1870
Levee bonds (or warrants).................................
1871
Old debt, including interest to 1884................ 1838 t o ’39
To Memphis & Little Rock Railroad................
1869
To Little Rock & Fort Smith Railroad............
1870
1870
To Little Rock, Pine Bluffs & N. Orleans R R ..
To Miss., Ouachita & Red River Railroad.......
1870
To Arkansas Central Railroad..........................
1870
Oalifomiar-State Capitol bonds........................
1872
Funded debt bonds of 1873...............................
1873
Connecticut—Bonds. 10-20 y e a r ..........) Coup.
1877
New bonds (sink, fd.) not taxable_ 5 or reg.
_
1883
New bonds, reg.
do
do .....................
1884
New bonds, coup, or reg.....................................
1885
Delaware.—Refund’g bds., ser. “ A,” “ B” & “ C”
1881
Bonds, redeemable after June 1,1 89 5 ............
1885
School b o n d s.......................................................
Dist. o f Columbia—Perm’t imp’t, gold, coup___
Ì872
Permanent improvement bonds, coupon........
1873
Bds for fund’g (Act June 10, ’79) coup, or reg.
1879
Fund, b’ds (U.S. guar., Acts June,’74& Feb.,’75)
1874
Market stock, registered and coupon...............| 1872
Water stock bonds, coupon................................ 1871 t o ’73
Wash, fund’g, gld,($628,800 are M.&N.,1902).
1872
Florida—State bonds.............................................
1871
Gold bonds...........................................................
1873
Georgia—
Atlantic & Gulf Railroad bonds..........
1866
Bonds, act of Mar. 12, ’66 (renewal W. & A.)..
1866
Quarterly gold bonds, act of Sept. 15,1870..
1870
Bonds, act of Jan. 18, ’7 2 .................................
1872
Bonds to fund coupons on endorsed bonds...
1876
Bonds exchanged for endorsed RR. bonds___
1877
Fdg. b’ds,coup, (for $3,455,000,) Act Dec.23,’ 84
1885
State University Bonds...................................... 1882 & ’83
Indiana—
Bonds, coup, (pay’ble after Apr.1,’84)
1879
School fund bonds (non-negotiable).................. 1867 to ’73
Kansas—Bonds for various State purposes....... 1864 to ’75
Military loan....................................................... 1866 to ’69
Kentucky—Bonds, gold........... .................... ........
1884
Military bonds..................................................... 1864 to ’66
Size or
Amount
par
Outstanding
Value.
$100&c. $6,731,000
100 &c.
539,000
100 &e.
945,000
954,000
1,000
1,850,000
1,268,000
1,000
100 &c.
1,986,773
2,491,023
1,000
1,000
1,200,000
1,000
1,000,000
1,000
1,200,000
1,000
600,000
1,000
1,350,000
250,000
2,698,000
500 &c.
1,000
1,031,000
500,000
1,000
1,000
1,000,000
1,000
1,740,000
1,000
625,000
120,000
156,750
500 &c.
3,484,600
100 &c.
642,300
100 &c.
948,400
50 &c. 14,033,550
50 &c.
146,450
1,000
360,000
100 &c.
1,649,250
100
280,100
100 &c.
7a7,300
500 &c.
158,900
500 &c.
2,906,000
1,000
2,098,000
500 &c.
307,500
1,000
542,000
1,000
2,141,000
38“ ,200
1,000
253,000
585,000
3,904,783
100 &c.
684,500
221,500
500,000
174,000
*****
Alq&mma.—The State gave 30-year bonds, dated July 1, ’76, 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 & Chattanooga endorsed bonds were exchanged
for $1,000,000 of the new bonds, Class 0, to 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.” 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. & Chatt.
RR. under act of Feb. 11, 1870, the State gives thelien on the lands
granted to that railroad, 500,000 to 1,200,000 acres. The assessed valu
ation of real estate and personalty was $152,920,115 in 1881, $151,520,551 in 1882 and $158,518,157 in 1883; tax rate 6 ^ mills in each
year.
A rk a n sa s.—The State Supreme Court decided Levee bonds of 1869
and 1870 invalid; nor are the Holford or the Railroad Aid bonds recog
nized by the State. The State is in default for interest. In Jan., 1883,
a decision was made by the U. S. Circuit Court, substantially holding
the railroad companies responsible for the State bonds issued to them,
but this was reversed and the case appealed to U. S. Supreme Court.
The following are official assessments:
Real Estate.
Personal. Tax Rate.
1881
................................ $41,843,803
$58,445,111
7*2
............................... 56,979,281
37.101.746
7*2
1882
1883 ....................................... 78,444,227
48,382,167
7
—(V. 39, p. 263 ; Y. 40, p. 119; V. 41 p. 419.)
C aliforn ia.—The State holds in trust for School and Universitv funds
$250,000 Capitol bonds and also bonds of 1873, in all $2,4*94,500,
leaving only $458,500 in private hands. Assessed valuations and rate
o f tax per $1,000 have been :
Years.
Real Estate.
Personal. Tax Rate.
1882
............................ $446,319,940
$120,848,453
$5-96
1883
........................... 558,373,786
167,338,644
4-97
1884
......................... 654,990,072
166,614,631
4-52
1885
........................... 688,311,102
171,201,282
5‘44
C onnecticnt.—The debt of Connecticut was all created originally for
war purposes. Assessed valuation and tax rate per $1,000 have been:
Years.
Real Est. & Personal.
Tax Rate.
1882...................................
$342,242,566
$1-25
1 8 8 3 ..,....................................
348,774,879
1*25
1 8 8 4 ..................................
349,977,339
1-25
The assessed valuation of re estate is about 70 per cent of the true value.
D ela w a re.—These refunding bonds issued July, 1881, take up out
standing debt. Series “ A ” are $160,000, redeemable 1886; series “ B,”
Rate.
3 &c.
5
4 &c.
6
6
6
7
6
7
7
7
7
7
7 g.
6 g.
5
3ia
3%
3
4
4
6
6 g.
7
5
3-65
7
7
6 g.
7
6 g.
6
7
7 g.
7
7
6
5
7
5
6
7
7
4
....
INTEREST.
When
Where Payable and by
Payable
Whom.
J.
J.
J.
J.
J.
&
&
&
&
&
J. N. Y., Am. Exch. Nat.Bk.
J.
do
do
J.
do
do
J.
Montgomery.
J.
J. & J.
J. & J.
A. & O.
A. & O.
A. & O.
A. & O.
A. & O.
J. & J.
J. & J.
M. & N.
J. & J.
J. & J.
A. & 0.
J. & J.
J. & D.
J. & J.
J. & J.
J. & J.
F. & A.
J. & J.
J. & J.
J. & J.
Jan.
J. & J.
F. & A.
J. & J.
Q .-J .
J. & JJ. & JJ. & J.
J. & J.
A. & O.
Various
J. & J.
J. & J.
***"
Principal—When
Due.
July 1,1906
July 1,1906
July 1,1906
Jan. 1, 1900
1899
1900
1900
1860
1899
1900
1900
1900
April, 1900
July, 1887
Sacramento, Treasury.
1893-94
do
do
Hartford, Treasury.
M a y l, 1897
Jan., 1903
do
do
Jan. 1,1903
do
do
Oct. 1,1910
.do
do
Phila., Phila. Is at. Bank.
1886,1891, 1901
do
do.
June 1,1905
Jan. 1, 1901
July 1, 1891
Wash, or N. Y., U. S. Treas.
do
do
July 1, 1891
do
do
July 1, 1899
do
do
Aug. 1, 1924
do
do
July 26,1892
do
do
Oct. 1,1901 & ’03
do
do
1892 & 1902
Jan. 1, 1901
N. Y. ,Park Bk. & Tallahassee
Jan. 1,1903
do
do
Aug. 1,1886
N. Y., Fourth National Bk.
do
do
July, 1886
Oct., 1890
do
do
May, 1892
do
do
do
do
July 1, 1896
July 1, 1889
do
do
July 1, 1915
New York & Atlanta.
1932-33
N. Y., Winslow, L. & Co.
April 1,1889
do
do
1886 to ’95
N. Y., First Nat. Bank.
do
do
1886 t o ’99
1905
New York City.
1894-96
$300,000, redeemable July, 1886 to 1891: series “ C.” $165,000. redeem
able July, 1891 to 1901. In addition to above, $33.000 is due Delaware
College. There is no State tax levied, nor assessments made by State
officers. Jan. 1,1885, the live assets exceeded the debt $329,049.
D istrict o f C olu m b ia.—The total assessed value of taxable real
estate and personal property is shown below. The interest and sinking
fund on the 3-65 bonds are provided for by Congress, and the amount is
limited to $15,000,000. Real and personal estate, &c., has been
assessed as follows:
Years.
Real Estate.
Personal.
Tax Rate.
$10,987,443
15
18 8 4.. .................................... $90,496,331
18 8 5.. .................................... 93,491,89112,715,686
15
1886....................................... 96,054,301
12,532,997
15
F lo rid a .—The sinking funds hold $207,600 of above bonds, and the
school, &o., funds held $594,700 more, leaving amount in individuals’
hands only $472,700. Coupons of all bonds are receivable for taxes. Real
and personal property assessed in 1883, $35,008,560; tax rate 4 mills in
1884, $60,042,655; tax rate 4 mills.
G eorgia.—The constitutional amendment in 1877 declared void
several issues of bonds and railroad endorsements. The 5 p. c. bonds,
of 1885 were sold to take up other bonds maturing in 1385 and 1886.
See Chronicle, Y. 40, p. 385, 481. Assessed valuations have been:
Years.
Real Estate.
Personalty.
Railroads.
$120,432,609
$22,186,901
1884 ........................ $174,452.761
1885 ........................ 179,946,059
119,200,739
23,000,294
—(V. 40, p. 385, 481; Y. 41, p. 392.)
In d ia n a .—There are also outstanding $340,000 5 per cent bonds,
due 1901. held by Purdue University, and about $22,000 miscellal
neous issues of bonds. Valuation for 1883 of taxable property: Real
estate, $553,251.538: personalty, $244,633,168. Valuation in 1884.
$804,291,273. (Y. 40, p. 42.)
K a n sa s.-K a n sa s has but a small State debt, but th6 issue or munieipa bonds was about $15,931,930. State funds hold $657,500 of the bonds.
The valuations (about one-half of true value) have been:
Real
Personal
Rate of Tax
Total
Years.
Estate.
Property.
per $1,000.
Debt.
$48,030,492
$4 30
$1,120,175
1 8 8 3 ................ $154,929,010
56,390,518
4 50
874,500
1 8 8 4 .............. 180,623,238
1885 .................. .............. 247,371,645...............
.........
.........
K e n tu c k y .—Against the bonds as above the sinking fund held
$711,346 June 30, 1885, Valuation in 1884, $377,888,542; in 1885,
personal, $96,838.919; real estate, $293,939,044; total valuation.
$390,827,963.
A
p r il ,
5
STATE SECURITIES,
1
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered in tbese Tables.
DESCRIPTION.
For explanation see notes on firel
of tables.
Date of
Bonds.
Size or
Amount
par
ratstanding.
Value.
Rate.
INTEREST.
When
Where payable and by
Payable
whom.
Principal—Wh en
due.
July, 1893
J. & J.
$15,000
1853
6
$500 1 Amount (
Various
1872 to 1906
119,000
6
1,000 I fundable j
Various
1886
1866
8
1,000 l was ab’t I
M. & N.
May 1, 1907
1867
6
1,000 ($200,000]
M. & S.
March 1,1875
Amounts not
1870
8
500 i January, 1
J. & J.
1886 & ’88
fundable,
1866
6
100 &c. J 1885. {
J. & J.
80,000 per report o f
Jan. 1, 1890
1870
8
1,000
80,000
260,000 Jan. 1,1878.
1899
7*30 M. & S.
1869
1,000
260,000
Various
48.000
1897
6
1857
1,000
48,000
70.000
July 1,1910
J. & J.
1870
8
1,000
70,000
A. & O. 2,500,000
April, 1911
1871
8
1,000
2,500,000
875,000
8
1869
1,000
875,000
N. Y., B ank of N. Y.
7(4) J. ‘ & "j.
Jan., 1914
1874
Consolidated funded bonds(stamped 4 per ct.)
10Ó &c. 11,939,950
New Orleans.
1886 &1914
2, 4, 3 J. & J.
1880
1,341,800
“ Baby” bonds, threes
J. & D.
Boston, Suffolk Bank.
June 1,1889
6
1864
2,330,000
500 &C.
Maine—Bounty loan bonds.................. I Coup.
A. & 0.
Augusta and Boston.
Oct. 1,1889
6
1868
2,827,000
100 &c.
Municipal war debt assumed........... i or reg
F. & A.
Boston, Suffolk Bank.
Aug. 15, 1886
4
1880
1,000
59,000
Four per cent bonds, coupon
London, Baring Bros.
1889
5 g. J. & J.
1838
1,784,444
Maryland—Baltimore < Ohio Railroad, sterling
fc
do
do
1889
1838
2,263,333
Chesapeake & Ohio Canal, sterling...............
5 g. J. & J.
Balt., Farm. & Merch. Bk.
1890
5
Q .-J .
183847
309,485
Railroads and canals........................................
do
A. & 0.
1890
do
5
1839
31,069
Eastern Shore Railroad....................................
Quart’y
do
do
1890
3
1837
269,000
Baltimore & Susquehanna Railroad...............
do
do
1890
Q.—J.
1839
6
298,435
Baltimore & Susquehanna Railroad...............
do
1890
A. & O.
do
6
1839
62,605
Annapolis & Elkridge Railroad.......................
do
1899
do
3-65 J. & J.
1882
3,000,000
Defense redemption loan..................................
1889
J. & J.
do
do
6
125,000
Deaf and Dumb Asylum Loan......................... 1870 & ’74
do
J. & J.
1887 & 1891
do
1876
6
135,000
Maryland Hospital Loan, 10-15 years............
100 &C.
do
do
1887
1872
1,217,234
6
Maryland State Loan.........................................
do
1893
J. & J.
do
6
1878
500,000
Treasury relief loan, 10-15 years— .............
Boston, Treasury.
May 1, 1894
1864
4,379,500
500 &c.
5 g. M. & N.
Massachusetts—Bounty Fund Loan....................
May 1, 1894
London, Baring Bros.
1864
£100 &c 4,022,649
5 g. M. & N.
do
do sterling.............................
July 1, 1889
do
do
1869
1,005,419
£200
5 g. J. & J.
War Loan, sterling.............................................
Api., 1888 to ’90
do
do
5,537,104
. 1858t o ’61 £200 &C
5 g. A. & O.
Troy & Greenfield Railroad loan, sterling
April, 1891 to ’ 94
Boston, Treasury.
1,366,500
home ~........ 1861t o ’63 500 &C.
5 g. Various
do
do
July, 1891
London, Baring Bros.
3,618,242
sterling.......
1871
200 &c.
.do
do
5 g- J. & J.
Jan. 1, 1895
do
do
1,506,182
sterling.......
1875
£500
5 g. J. & J.
do
do
1894
Boston, Treasury
J. & J.
dollar bonds 1873 to ’74 1,000
s
300,000
5 g.
do
do
July 1, 1895
do
do
do
1875
1,300,000
1,000
do
do
5 g- J. & J.
Sept. 1, 1897
do
do
M. & 8.
do
1877
10,000
370,000
do
5 gdo
April 1,1890
do
do
1860
5,000
200,000
5 g. A. & 0.
Southern Vermont Railroad Loan..................
Jan. 1,1900
London, Baring Bros.
3,618,729
£200
Boston, Hartford & Erie Railroad, sterling.. . 1868t o ’69
5 g- J. & J.
Sept. 1,1896
Boston, Treasury.
300,000
Harbor Land Improvement (5-20s)................. . 1874 & ’76 1,000
5 g. J. & J.
Boston, Treasury.
J’y l ,’94-Sep 1,’97
1,500,000
Danvers Lunatic Hospital............................... . 1874 & ’77 1,000
5 g- Various
do
M’y l ’95-Sep 1,’96
do
1,100,000
1,000
Lunatic Hospital, Worcester........................... . 1875-’76
5 g- Various
1875
1,299,355
5 g. J. & J. London, Baring Bros. & Co. Jan. 1, 1895
£500
New State Prisons, sterling..............................
May 1,1890
M.& N. N. Y., Am. Exchange Bank.
1865
231,000
7
Michigan—War Bounty Bonds............................
1,000
1911
2
1881
3,965,000
Minnesota—Adjustment bonds, (10-30, red., ’92
1,000
4*2 J. & J. N. Y. City First Nat. Bk.
Optional.
4*2 J. & J. St. Paul, State Treasury.
1883
Revenue loan (redemption optional)----1,000
128,000
1888
J. & J. N. Y., Bank of Commerce.
6
1868
1,000
2,483,000
Missouri—Consolidated b on d s....................
July, 1892
do
do
J. & J.
1872
6
1,000
185,000
University and Lunatic Asylum bonds..
April 1,1894
do
do
1874
J. & J.
6
1,000
80,000
State Bank stock refunding.....................
1886 t o ’ 88
do
do
J. & J.
. 1854 t o ’58 1,000
6
Bonds to North Missouri Railroad........ .
1,449,000
1886 to ’89
do .
do
J. & J.
. 1857 to ’5S 1,000
6
246,000
Bonds to Cairo & Fulton Railroad..........
1889 t o ’90
do
do
J. & J.
. 1859 t o ’6C l',000
428,000
6
Bonds to Platte County Railroad............
do
1886 t o ’89
do
J. & J.
. 1854 to ’5S 1,000
6
Bonds to Iron Mountain Railroad..........
1,190,000
1889
do
do
J. & J.
. 1853 to ’5S 1,000
1,474,000
6
Pacific Railroad of Missouri....................
July, 1894 & ’95
do
do
1874
J. & J.
1,000
617.000
6
Funding bonds............................................
Jan. 1,1911
do
do
1886
1,000
650,000
3*2 J. & J.
do
............................................
Nov. 1886 to ’95
do
do
T. & J
. 1857 to ’75 1,000
1,390,000
Hannibal & St. Joseph Railroad.............
6
1894-o-6
do
do
1874
J. & J
do
do
renewal
1,000
659,000
6
April 1,1897
N.Y., Kountze Bros.
A. & O
1877
1.000
449,267
Nebraska—Bonds (act Feb. 14,1877) coupon..
8
• Sept., 1889
Concord or Boston.
1864
M. & S
1,000
150,000
6
New Hampshire—War loan, coupon bonds—
Jan., ’92 to 1905
do
do
1872
J. & J
100 &c
2,206,100
6
Municipal war loan.........................................
1,000
500,000
J. & J Bost.,Nat.Bk.Commonw’ltfi July 1, 1887-’92
1879
5
Loan of 1879 for refunding...........................
Jan., 1896 to ’91
do
do
1879
1,000
J. & J
84,000
5
Prison loan.......................................................
1863
897,900
J. & J Jersey City and Trenton. Jan., 1887 to ’96
New Jersey—War loan bonds, tax free.............
100 &c
6
Jan.,’ 97 to 1902
do
do
1864
100 &c
J. & J
593,400
6
do
do
taxable.......... .....................
Oct., 1893
1875
100 &e
473,000
New York— f
6 g. J. & J N. Y., Manhattan Co. Bank
July, 1887
do
do
1872
100 &c
1,562,900
J. & J
Canal debt, j Under Art. 7, Sec 3, of Con
6 g.
Julv 1, 1891
do
do
1873
100 &c
4.302,600
reg. stock. ] stitution.
6 g- J. & J
Oct. 1,1892
do
do
1874
100 &c
2,000,000
6 g. A. & O
$100,000 yearly
1885
1,000
1,000,000
Niagara Park Loan bonds.............................
2*2 J. & J
Louisiana—Bonds for relief of State Treasury .
Bonds in aid of various railroads........... .........
Levee bonds—Act 35 of 1865............................
do
Act 115 of 186^..........................
do
special—A ct 32 of 1870.............
Bonds funding coupons.................. - .................
do to Boeuf & Crocodile Navigation C o...
do to Mississippi & Mexican Gulf Canal..
do school, held by 8t. Treasurer*.............
do to N. Orleans, Mobile & Chatt.jRR.......
do to N. Orleans, Mobile & Texas RR
1
personal property, 1882, about $810,000,000 ; in 1883, tax rate,132100
L o u isia n a .—The Constitutional amendment passed Dec., 187
provided for a new bond m place of consols of 1874. bearing 2 per cent mills; in 1884, 1-108 mills ; in 1885, 2-4 mills.
for 5 years, 3 per cent for 15 years and 4 per cent afterwards. In
M in
old State
held by
June, 1882, a constitutional amendment passed the Legislature and school n eso ta .—All theredeemed bonds formerlyfor 4*28. the permanent
fund have been
or exchanged
Minnesota re
was confirmed at the election in April, 1884, giving new bonds at 4 per
fused for some years to recognize the “ State Railroad Bonds” of 1858,
cent after Jan. 1,1885, and doing away with the provision of 3 per cent
amount of $2,275,000, but a proposed compromise
for fifteen years. There is considerable overdue interest of the years to the was provided for in 1881, and was carried out by the with the
issue of
1874 to 1880, inclusive. The constitution of 1879 limits the power of holders
the 4*2
taxation to 6 mills on the valuation, of which only 3 mills may be ap Years. per cent bonds. Taxable1 valuations and State ntax have been: t f l
______
TV_
_
D A -n n n n l
r P o ir D n
Real Estate.
Personal.
Tax Rate.
propriated for interest on the debt; in 1884 1*3 mills sufficed to pay 2 1881
...............................$208,949,184
$74,329,190
1-40
per cent, but for 1885 a rate of 278 was made on a total taxable valuation 1882
67,159,588
1-85
of about $200,000,000. A suit by the State of New Hampshire against 1 8 8 3 !..."............................... 244,033,847
255,910,090
78,549,269
1*80
Louisiana as assignee of her bonds, was decided in favor of Louisiana by 1884
307,859,774
80,298,879
1*30
the U. S. Supreme Court. (V. 39, p. 3,181.)
1885"
.......................... ................... 400,000,000-------------•
1-80
M a in e.—The debt January 1, 1886, was $5,216,000. The sinking
M isso u ri.—The tax rate is 40c. per $100. Bonds maturing are met
fund $1,960,278. Tax rate for 2880, 5 mills on valuation of 1870:
1881-82, 4 ^ mills; 1883-84, 4 m ills; 1885-6,3%. mills on valuation of by sinking fund. Total State debt Jan. 1, 1886, was $14,952,000,
including school fund and University certificates, $3,646,000. The
1881.
M a ry la n d .—The State has largely assisted canals and railroads, and Hannibal & St. Joseph RR. paid the State $3,000,000 for its debt, but
holds $4,518,799 of stocks and bonds ranked as productive; the State the State refused on Jan. 1,1882, to pay the coupons on its own $3,000,and company ensuen, re
also holds $27,723,287 in unproductive securities, which includes 000 of bonds. Litigation between the State $476,049, as due the State
against the company for
$17,566,472 Chesapeake & Ohio Canal interest.
The State ex sulting in a judgment appeal to the U. S. Supreme Court is yet pending.
on May 11, 1883; an
changes the “ Defense Loan” at par for new certificates of indebtedness,
bearing interest at 3-65 per cent, redeemable in 15 years. Assessed val The following is a statement of the assessed property in this State for
the years 1882,1883 and 1884;
uation, &o.,have been:
1882.
1883.
1884.
Years.
Real & Personal. Tax per $100.
1882
................................................. $464,824,879
18%o.
Real estate..............
$442,826,742
$443,144,455
$496,730,663
1883
....................................................
466,089,380
18%C.
173,345,191
186,425,373
Personal property___ 170,813,976
1884
....................................................
469,593,225
18%c.
Railroad property, &c. 35,626,524
39,760,767
44,582,480
1885 .........................................................
473,452,144
.........
—(V. 41, p. 473.)
$656,250,413
$727,738,516
T ota l............. .
$649,867,242
M assach u setts.—'The funded debt, Jan. 1, 1886, was $31,423,681; —(Y. 42, p. 125, 207.)
the sinking funds were $18,182,672. The Hoosao tunnel and connections
N ebraska.—The State school fund holds $326,267. Assessed valu
cost the State heavily. The loan to Boston Hartford & Erie Railroad ation of real estate, personal, railroad, &c. (33*3 per cent of true value),
was secured by “ Berdell” mortgage bonds, afterwards exchanged for
and tax rate per $1,000, have been :
N. Y. & N. E. RR. seoond mortgage bonds, and these bonds were sold Years.
Tax Rate.
Valuation.
in 1885 at 90. Assessed valuation, tax-rate, &c., have been:
1881
.............................................................. $93,142,456
Real
Personal Tax per
Total
Sinking
1882
.............................................................
98,537,475
Years.
Estate.
Property. $1,000.
Debt.
Funds.
7 40
”
....................... 110,543,644
1880 ....$1,111,160,072 $816,695,358 $15 35 $32,799,464 $13,050,092 1883
............................................
126,615,886
7 B
5680e
1881 . . . .
1,149.965,827 883,886,538 14 28 32,399,464 14,080,465 1884
7*3
133,418,700
1 8 8 2 ..
.. 1,189,524,370 812,858,614 15 28 32,511,680 16,944,263 1 8 8 5 . . ‘.".7.7.77.7.7...........................
1 8 8 3 ..
..
1,226,111,297 835,601,175
14 9831,423,68016,836.672 H a m p sh ir e .—The debt of New Hampshire was created for war
N ew
1 8 8 4 ..
.. 1,258,452,712 829,339,811 15 95 31,423,680 17,731,725 purposes. The Municipal loan of 1872 was issued to cities and' towns,
1 8 8 5 .. ..
1,287,993,899 806,055,338 14 14 31,423,680 18,182,672 the proceeds to be applied to their war debts. Total valuation in 1883
M ic h ig a n .—The debt is practically extinguished, as the sinking fund $227,914,543; in 1884, $231,340,088, and rate of taxation for all pur
has sulhcient assets to meet the debt. Equalized valuation of real and poses, $1-496.
STATE
6
SECUKITIES
[VOL. XLII.
Subscribers w ill confer a great favor by giv in g im m ediate notice o f any error discovered in these T a bles.
DESCRIPTION.
For explanation see notes on first page of tables.
North Carolina—Fund, b’ds (coups.tax-rec’ble).
Old bonds not funded.........................................
Bonds to North Carolina R ailroad..................
Bonds for N. C. RR. issue (tax receivable cps.)
RR. bonds not fundable (Chatham and W.&T.)
Penitentiary bonds, act Aug. 24, 1868............
Special tax bonds (in 3 classes).......... .............
Ohio—Registered loan of 1881............................
Registered loan, payable after Dec. 1886.......
Pennsylvania—Reg. bonds, tax fr. (red’ble ’92).
Registered bonds, tax free, 15-25 years........
Loan of February, 1882 (registered)...............
do
do
in ten series.............
Agricultural College land scrip.........................
Rhode Island—War bonds.....................................
War bonds............................................................
South Carolina—
State House stock and bonds..
Funding bonds and stock..................................
Blue Ridge Railroad bonds...............................
Funding bills receivable....................................
Payment of interest............................................
Funding bank bills..............................................
Conversion bonds and stock.............................
Deficiency bonds & stock (act 1 8 7 8 )...............
Consol, bonds and stock (Brown).....................
Tennessee—Funding bonds, act of 1873.............
Bonds registered, act of 1873............................
Held by E. T. University (not to be funded)..
Compromise bonds (act of May 20, 1882) ___
Settlement bonds, act of March 15, 1883........
do
do
5 & 6 per cents.
Texas—Funding State debt (act May 2 ,1 8 7 1 )...
Frontier def’se, gold, aot Aug.5,’70(red’ble f91)
Revenue deficiency bonds, act Deo. 2 ,1 87 1 ..
Bonds, act Mar., 1874 (for paying float’g debt)
Redemption of debt, act Aug. 6, ’76................
Bonds, act April 21,1879..................................
Bonds issuecTto School Fund............................
Consol, (act Mar. V I) coup, tax receivable___
do
do
reg., conv. into ooup...
do (act 1872) “ Pealer,” cp. not rec’ble..
do
do
“ Pealer,” reg. and certifs .
Deferred certificates (W. Va.)............................
“ Riddleb’r” b’ds, acts F e b .li,’82,&Nov.29,’84
Size or
Bonds.
Value.
Amount
outstanding.
Rate.
INTEREST.
When
Where Payable and by
Whom.
Payable
J. & J. N. Y., Nat. Bk. of Republio.
4
$50 &c. $2,931,100
6
Various Cps. since July ’ 68 unpaid.
2,661,600
500 &c.
Various
do
do
1,000
649,000
6
do
do
6
A. & O.
1,000
2,146,000
1879
Cps. since Ju ly’68 unpaid.
....
1,180,000
6
1,000
A. & 0. Coup, of Jan.’69&sinceunp.
1,000
44,000
6
1868
A. & 0, Cps. A & 0 ’69 & Ap ’ 70 unp.
6
1,000 11,366,000
4
J. & J. N. Y., American Exoh. B’k.
1,475,000
100 &o.
1881
do
do
2,243,564
6
J. & J.
100 &c.
1856
2,250,000
6,948,600
5
F. & A. Phila., Farm. & Mech B’b.
100 &c.
1877
1,855,500
4
F. & A.
do
do
100 &c.
1879
fc
do
do
6,861,100 3U» & 4 F. < A.
50 &c.
1882
do
do
1.649,600 3*2 & 4 F. & A.
50 &c.
1882
Harrisburg, Treasury.
500,000
6
....
1872
628,000
6
J. & J. Providence, R.I.H. & T. Co.
1,000
1863
do
do
6
F. & A.
744,000
1,000
1864
6
154,114
J. & J. Columbia, State Treasury.
1853 to ’54 1,000
26,650
50 &C.
6 g. J. & J. Columbia and New York.
1866
Columbia, Treasury.
55,000
1,000
6 g. J. & J.
1854
13,000
1,000
6 g. A. & O. Columbia and New York.
1868
do
do
128,000
1,000
6 g. A. & O.
1868
do
do
37,250
500 &C.
6 g. J. & J.
1868
do
do
6 g. J. & J.
54,200
500 &C.
1869
do
do
450,456
6
J. & J.
1878
6
5,240,230
J. & J. N. Y., National Park Bank.
500 &c.
1874
6
Nashville, Treasurer.
J. & J.
1,000
1874
(?)
5 & 6 J. & J.
do
do
1,000
(?)
Various.
6
do
do
1,000
397,000
J. & J.
3, 4, 5, 6 J. & J. New York, Cont’l Bank.
500 &c.
1882
(?)
3
Nashville.
100 &o. 7,428,500
J. & J.
do
995,200
5 & 6 J. & J.,
100 &c.
1883
State Treasury.
67,000
6
....
Various
1872
499,000
1,000
7 g. M. & S. New York, Bank of N. Y.
1871
467,000
do
do
1,000
7 g. J. & J.
1872
288,000
do
do
1,000
7 g. J. & J.
1874
1,647,000
1,000
1876
6 g- J. & J. New York & State Treasury.
1,068,900
5
do
v
do
J. & D.
100 &c.
1879
_
State Treasury.
82,168
6
....
1867
3,062,892
J. & J.
6
1851 t o ’66 500 &c.
5
*100 &c 1,027,141
J. & J.
1851
6
100 <
fco. 13.019,900
J. & J.
1871
1,269,366
6
100 &c.
J. &] J.
1871
396,100
6
100 &c.
J. & J.
1872
622,836
6
J, & J.
1872
6
Various 12,691,530
J. & J.
1871
7,113,400
3 to 5 J. & J.
1879
293,200
3 to 5 J. & J.
1879
Richmond, Treasury.
2,100,000
3
1882
100 &e.
J. & J.
j
1879
Principal—When
due.
1909
1868 to ’98
1884 to ’85
April 1, 1919
1868 to ’98
Oct., 1898
1898 to ’99
At will, 1.886-’88
Jan. 1887
F e b .1,1902
Aug. 1. 1904
Feb. 1.1912
Aug. 1, ’86 to ’92
1922
July 1,1893
Aug. 1, 1894
1871 & ’81
J’ly 1,1887 to ’97
.T 1,1875 to ’79
’ly
July 1,1888
July 1,1888
July 1,1889
July 1,1882
1888
July 1, 1893
July 1,1914
1875 to 1900
Various.
Jan. 1, 1912
1891
1911
1892
March 1,1904
' July, 1906
1909
Matured.
1886 to ’95
1886
1905
1905
Contingent
1919
1919
July l, 1932
Tennessee.—A funding law was passed (act of May 20, ’82) without
the tax-receivable coupon clause, and giving new bo ads at 60 per cent
of the principal and interest of old, the new bearing 3 per cent in 188283, 4 per cent in 1884 and 1885, 5 per cent in 1886 and 1887, and 6 per
cent 1888 to 1912. Exchanges were made in New York July, 1883,
and $8,224,351 of these compromise bonds were issued. The Legisla
ture of 1883 repealed this law and passed a new one adjusting the debt
on the basis of new bonds at 50 per cent of the faoe value of old, and
bearing 3 per cent interest; the old State debt proper of $2,118,000 is
made an exception, and new 5 and 6 per cent bonds are to be issued for
that at the face value. Up to December, 1884, of the old 5 and 6 per
cent bonds about $900,000 had been exchanged, and of the other debt
$6,910,181 had been scaled and $3,445,300 3 per cents issued. Assessed
valuations and tax rate per $1,000 have been as follows :
Real estate.
Other property. Railroad prop’ty. Tax rate.
30
1881......$200,007,214
$25,282,659
$ ....................
------------ --------26,546,245
..................
20
1882....... 195,383,568
26,884,459
31,547,299
30
1883,___ 195,753,414
__
___
26,631,284
34,350,170
30
1884....... 200,212,900
(V. 39, p. 454, V. 40, p. 121, 364, 562, 653. 686, 734; V. 42, p. 234.)
T e x a s.—The old high-rate bonds have been redeemed andlow interest
bonds issued. Assessed valuations and rate of tax per $1,000 have been:
Years. Real estate.
Personalty.
Total val’ation. Tax rate
1880___ 197,167,630
121,803,106
318,970,736
5
140,000,000
357,000,000
4
18 8 1.... 216,228,017
169,767,572
419,925,476
3
1 8 8 2.... 250,157,904
298,959,253
223,578,137
527,537,390
3
1883..
..
347,846,953
255,213,964
603,060,917
3
1884..
..
V ir g in ia .—
The old bonds two-thirds fundable and the sterling
bonds carry coupons from July 1869, except the years 1872-3-4. The
consols, of 1871 carry coupons ot Jan. 1875 and since. The 10-40s carry
Jan. 1881 and since; but the consol, and 10-40 coupons being taxreceivable, these bonds are generally sold with matured coupons
off.
The first funding law of March, 1871, allowed holders of
Real estate.
Personalty. Total valuation. Tax pr.$100 bonds to fund two-thirds of their debt into new 6 per cent bonds, bear
Years.
ing coupons receivable for taxes, and receiving for the other one-third
$67,568,691
$169,916,907
28
1 8 8 0.... $102,348,216
of their principal a “ deferred certificate,” to be paid by West Virginia.
104,742,911
62,995,728
167,738,639
28
1 8 8 1....
The act of 1872 repealed the tax-receivable cl luse o f the law, and the
108,988,184
71,389,341
180,377,525
25
18 8 2....
bonds issued under it were called “ Pealers.” The McCulloch law of
77,087,346
201,222,723
25
124,135,377
1 6 8 3....
March 28, ls7 9 . for readjusting the debt, was given in Vol. 28,
(V. 40, p. 93, 454 ; V. 42, p. 479.)
were 10-40
3 per cent
O h io.—Ohio has a very small State debt, but large local debts, amount- p. 353. The new bondscent for 20 year bonds, bearing cent for 10
for 10 years, 4 per
years and 5
ing in 1885 to $53,290,398, against $25,957,588 in 1875; this increase years, coupons tax-receivable. In February, 1882, per Riddleberger
the
foetngmainly in city debts. Valuations in Ohio havebeen as follows:
debt
laws
Real estate.
Personalty. law for re-adjusting thepassed and the34, p. familiarly known as
Real estate.
Personalty.
“ Coupon killers,” were
1866«. $663,647,542 $442,561,379 1882.
$1,116,681,655 $518,229,079 provided for the issue of (see V. bonds, 88. The Riddleberger
act
new
dated July 1, 1882,
1879.
-1,093,768,904 442,979,885
1883. 1,131,058,750 542,207,121
1880. 1,102,049,931 456,166,034 1884. 1,145,475,210 528,298,871 into which all others could be funded at specified rates below par, varying
from 47 to 31 on the different classes. This law has also been amended^
1881. 1,101,457,383 485,750,196 1885..1,160,165,882 509,913,986 and requires all bonds offered for funding after July, 1885, to carry the
—State tax rate for ’85-86,29io mills. (V. 42,p.365, 387.)
coupon of that date. Up to dept. 30,1885, there had been surrendered
P en n sy lv an ia .—Revenue is raised principally from corporations. a total of $7,517,032 bonds, coupons, certificates, &c., of all sorts, for
Taxes are levied on personal property. The State holds $5,160,000 in which $4,971,590 of 3 per cent bonds had been issued, and of these
good railroad bonds. Any coupon bonds may be changed to registered. $2,781,075 had come into the State Treasury on different accounts and
Real estate valuation in 1884, $1,600,000,000.
been canceled. The Supreme Court of the U. S. held (V. 36, p.
R h o d e Is la n d .—The debt was all created for war purposes. In 285), that the law requiring the validity of the coupons to be established
January, 1885, the net debt, less sinking fund, was $1,001,743. The before a State court did not impair the contract making them receivState valuation of real property up to 1885 was $328,530,559; tax rate, \able for taxes, and was therefore constitutional, but the question was
12 cents on #100.
again before the U. 8. Supreme Court in April, ’85, when that Court held
South C a ro lin a .—The funding law of Dec. 23, ’73, provided for that a tender of coupons m payment of taxes was sufficient for the prop
sealing down the old debt 50 per cent. The consols were again “ re erty owner. New suits were brought, and by the decision reported In
adjusted ” in 1879. The several aots were passed Dec. 3,1873, Dec. 24, V. 42, p. 188, the U. S. Supreme Court confirmed its decision o f 1885.
A movement was begun in 1885 to procure an adjustment of the
1878, Deo. 24,1879, and February, 1880. In November, 1885, the con
sols stood at $6,174,521, which amount was made up as follows: Brown “ Deferred” bonds or certificates with West Virginia, and the holders
consols, $5,200,433; green consols not yet exchanged, $934,291, less wererequested to deposit these with the Farmer’s Loan Tr. Co., and the
amount invalid, $692,869. The old issues yet fundable on Nov. 1, ’ 85, certificates of that Co. were listed at the Stock Exchange.
Assessed valuations have been as follows
were estimated at a total of about $600,0O0.^JValuations and rate of
Tax Rate.
Total.
Years.
Real Estate.
Personalty.
ta x per $1,000 have been:
40c.
..
$232,386,357$77.666,765 $310,053,121
Personalty.
Railroads. |Tax rate. 1882..
Years.
Real estate.
40o.
318,157,937
18 8 3..
..
236,368,22781,789,710
$36,574,858
$7,392,900
4%
1880-81... $76.583,866
40c.
328,800,040
18 8 4..
..
239,826,00088,974,040
13,767,400
5
18828 3 ... 77,609,666 41,785,768
—(V J40,P.350.494, 509, 645; V. 41, p. 446, 474; V. 42, p. 94,188, 234’
18838 4 ... 87,131,400 48,249,939
15,227,964
5
464.
15,263,366
[5
18848 5 ... 87,559,538 46,904,705
N ew Jersey.—The debt was created for war purposes. Valuation
of real and personal property (taxable) in 1885, $565,500,687; $554,828,114 in 1884; $548.495,069 in 1883, $534,917,876 in 1882, $527,451,222 in 1881. State school tax, 2*2 mills.
N ew York:.—The financial condition of the State has been fortified by
the payment of all debt except the canal debt, as above. The sinking
funds January, 1886, amounted to $4,528,468. The new Capitol
building has cost the State thus far $17,310,720, but this has been paid
for by taxation. Valuations and tax rate for State purposes have been:
Real estate.
Personal.
State tax.
$2,315,400,526
$322,468,712
3*2
1 8 8 0 ............
2,340,335,690
340,921,916
2H
1851 ......................
1882 .............................. 2,432,661,378
351,021,189
2-45
1883 .............................. 2,557,218,240
315,039,085
3^4
1884 ............................ 2,669, L73,311
345,418,361
22340
...... _ . . ........ 2.762,348,000
332,383,239
2-96
1885
—(V. 40, p. 763.)
N orth C arolin a.—Interest was paid up to January 1882 on the
bonds issued to No. Car. RR., as the State holds $3,000,200 stook and re
ceives dividends thereon. The old North Carolina RR. construction
bonds are exchangeable for the new 6s, due 1919 (see V. 35, p. 132), and
many holders have already so exchanged. The funding law of March 4.
1879, provided for funding old ante-war bonds at 40 per cent of the face
value; “ New ” railroad bonds recognized as valid at 25 per cen t; fund
ing bonds of 1866 and 1868 at 15 per cent. Nothing for overdue cou
pons. Coupons of the new bonds are receivable for taxes. The funding
ended Jan. 1, 1882, but has been continued till Jan. 1, 1887. If all
were funded the new 4 per cents would be $3,589,511. Special
tax bonds were ignored; also bonds to Chatham RR., 1868, $1,030,000,
and to Williamston & Tarb. RR., $150,000, and for Penitentiary under
acts of 1868. The speoial tax bonds are in 3 classes, class 1, bearing
the coupon of April 1869 and since; class 2 of Oct. ’69; class 3 of Apl ’70.
Assessed valuation of reaL estate is about 60 per cent of true value.
A p r il , 1886.J
CITY
7
SECURITIES,
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered in these Tables.
INTEREST.
Size or Amount
Principal—When
Date of
DESCRIPTION.
When
par outstanding. Rate.
bonds.
Where payable and by
Due.
value.
Payable
whom.
Forexplanations see notes on first page of tables.
1866
A lb a n yN . F.—Purchase Congress Hall Bloch..
City improvement............................................... 1870-’71
1870-’82
Washington Park.................................................
1874
New Post Office site............................................
Water debt ($400,000 due 1900-3, are 7s)........ 1874-’80
1884
Broadway Crossing bonds.................................
1882
New City Hall.....................................................
1882
South Pearl Street b o n d s..................................
1865
Bonds loaned to Albany & Susquehanna R R ..
Atlanta, Oa.—Bonds for streets, floating d eb t... ’66-’67-’72
1869-’70
Bonds for A. L. Railroad and State House—
Bonds for West. RR. and floating deb t............ 1870 & ’72
1874
Bonds, 1st and 2d series, waterworks.............
1877
Redemption bonds..............................................
1881
do
............................................
1879
Bonds to fund floating debt..................
1884
Capitol bonds.......................................................
Various.
Augusta, Oa.—Bonds for various purposes........
Baltimore—Consolidated loan of 1890............... Various.
1877
Water loan, reg. stock, red. at will after 1916,
1878
Funding loan, reg. stock, tax free.. ...............
1863
Consolidated bounty loan.......... .......................
1865
Exempt bounty loan.........................................
1860
Public parks (Druid Hill)..................................
1863
Park improvement loan.....................................
Patterson Park exten sion ................................
1853
Five million loan to Baltimore & Ohio R R ---New City Hall...................................................... 1870-’74
1881
Paving loan................................... .....................
1870
Funding loan......................................................
1872
Western Maryland Railroad.............................
Jones’ Falls ($957,000 are 5s&$200,000 3'65s) 1872-’84
1885
do
................................................. —
1873
Valley Railroaa..................................................
1874
Water loan ($263,000 only are 6s)...................
1880-4
Harford Run improvement lo a n .....................
1882
Western Maryland RR. loan..............................
Endorsements for Western Maryland R R .......
do
do Union Railroad....................
Bangor, Me.—City debt p roper............................
1885
Refunding bonds...................... .........................
1874
Municipal lo a n ...,..............................................
1875
Water man bonds, coup. (Act Feb. 22, 1875).
1869
European & North American Railroad............
1869
Bangor & Piscataquis Railroad.................. .
Bath,Me.—Fund, debt ($78,000 are 6s,’97, J.&J.)
Knox & Lincoln RR., for stock and coupons ..
1861
Androscoggin Railroad.................................. .
1869
Knox & Lincoln Railroad ($23,750 each year)
do
do
(F.&A» and M.&8).. 1871-’72
Railroad refunded— ....................................... .
Boston—City purposes, war debt. &c..................
City debt and Charlestown................................
do
registered.............................................. 1878-’82
1879
do
do
..................... .......................
1877
do
do
..............................................
City d e b t.............................................................. Various.
W estRoxbury..... ..............................................
Ì873
Burnt district, sterling loan...............................
1869
Consolidated street improvem’t, sterling loan.
Mystic water debt, assumed............... ............
Cochituate Water loan, 6 per cent
5 per c e n t ........
do
do
1878
4 per c e n t........ .
do
do
1872
Sterling.......... .
do
do
do
5 per cent gold.
1875-’76
do
1879
do
do
413
do
1879-’80
4
do
do
do
4 per cent.........
1883-84-8£
do
do
18|4-’85
3*a per cent......
do
do
Jb61
Brooklyn—Brooklyn local improvement loan...
1857
Mount Prospect Square loan.............................
1865
Soldiers’ aid fund loan.......................... ............
1866
Gowanus canal improvement loan, local........
1865
Bushwick avenue
do
do
do ........
1866
SouthSeventh st.
do
do
do .........
1867
Union street improvement loan, local.............
Fourth avenue
do
do
do
___ 1868 & ’6É
1867
WallaboutBay
do
do
.................
1870
New York Bridge loan, registered and coupon
Bonds for N. Y. & Brooklyn Bridge, cp. or reg. 1875-’83
Prospect Park loan, reg. & coup.........................
Prospect Park loa n ............................................
F. & A. Boston, Merchants Bank. Feb.. 1888 to ’94
6
$127,000
M. & 8
New York.
4-18,000
7
1886 to 1900
1,058,000 4, 5, 6, 7 M. & N. New York and Albany.
1910-’21
M. & N. N Y., Merchants’ Nat. Bk.
7
May 1,1904
115,000
F. & A.
do
do
6&7
1894 to 1912
1,089,000
do
do
4
J. & D.
1886
70,000
do
do
145,000
J. & J.
July 1,1905 t o ’10
1,000
Albany.
4
1888
62,000
M. & N. N. Y., Del.& Hud. Canal Co.
6
1,000
858,000
1895-’97
1886 & 1892
500 &c.
J. & J. New York, Park Bank.
365,500
8
do
do
J. & J., 1890
J. & J.
1,000
400,000
7
do
do
J. & J., 1902
500 &c.
J. & J.
418,000
8
Jan, 1, 1904
427,000
7
J. & J. New York, Fourth N. Bank.
1,000
Atlanta or New York.
Jan. 1,1897
500 &c.
77,500
8
J. & J.
do
do
1911-1915
5
1,000
Various
120,500
6
J. & J. New York, Park Bank.
1887-1896
360,000
1914
6
J. & J. New York and Atlanta.
55,000
1886 to 1915
Augusta, Treasury.
100 &c.
6 & 7 Various
2,256.000
July 1, 1890
6
100 &c.
7,306,546
Q —J. Balto., Farm. & Pian. Bank.
July 1,1916
M. & N. Balto., Nat. Mechanics’ Bk.
5
100 &c.
5,000,000
After July, 1916
M. & N.
do
do
5
100 &c.
1,000,000
6
M. & S.
do
do
Sept. 1, 1893
100 &c.
2,211,068
6
M. & S.
do
do
Sept. 1, 1893
100 &c.
410,353
Q .-M .
do
do
Sept. 1, 1890
555,566
6
100 &c.
do
do
Jan. 1,1895
185,723
6
100 &c.
Q .-J .
4
1920
200,000
Q .-J .
Jan. 1, 1890
5,000,000
6
Q .-J . Balto., Farm. & Plan. Bank.
100 &c.
do
do
1900 and 1902
1.500,000
6
100 &c.
Q.^T.
4
M. & N. Balto., Nat. Mechanics’ Bk. After Nov. 1,1920
500,000
100 &c.
July 1,1900
800,000
6
100 &c.
Q .-J . Balto., Farm.&Plan. Bank.
Jan. 1,1902
6
J. & J. Balto., N. Mechanics’ Bank.
1,000,000
100 &c.
do
do
Aprii 9, 1900
1,957,000 3-65,5&6 ,Q.—F.
100 &c.
do
do
100,000
3
Q .-F .
1900
do
do
Oct. 31,1886
1,015,300
6
A. & O.
do
do
July 1, 1894,1922
5,000,000 4 ,5 & 6 J. & J.
100 &c.
do
do
4
After Jan. 1,1920
J. & J.
600,000
100
July 1.1925
4
684,000
100 &o.
6
J. & J. Balto., N.Mechanics’ Bank. Jan. 1, ’90 & 1900
1,375,000
Jan. 1, 1895
6
J. & J. Baltimore, Franklin Bank.
117,000
1892
7
1,000
Various Boston, Merchants N. B’k.
50,000
do
do
1886 to 1890
4
M. & N.
500 &c.
50,000
do
do
Jan. 1,1894
1,000
6
J. & J.
100,000
do
do
July 1, 1905
500 &c.
500,000
6
J. & J.
do
do
Jan. 1, 1894
1,000
1,000,000
6
J. & J.
do
do
Aprii 1, 1899
500 &o.
6 & 7 A. & O.
925,000
City Treasury.
1887 & 1897
5 A 6 M. & S
Various.
180,500
1886 & 1898
Various Boston, Second Nat. Bank.
154,000
6
Various.
6
A. & O. City Treasuryand Boston. Jan. to Oct. 1891
Various.
425,000
_ _ __ _
1886 t o ’99
J. & J. Boston, Hide & Leather Bk.
Various. )
5 6
1891 & 1902
Various.
Various Boston, Second Nat. Bank.
1 6
July 1,1902
4
J. & J.
270,800
1885 to ’87
1,000
937,000
5 g- Various Boston, Treasurer’s Office.
do
do
1885 to ’97
1,000
6
9,778,500
Various
do
do
1887-1914
4
Various
9,058,000
do
do
Oct., 1889
4 lag. A. & 0.
450,000
do
do
1887
490,000
4ia Various
do
do
Various.
5
230,000
Various
do
do
1886 to 1891
140,000
7
Various
Aprii, 1893
4,997,604
£100&c
5 g- A. & O. London, Baring Brothers.
do
July, 1899
JBlOO&e 2,996,602
5 g- J. & J.
1886 to 1913
1,000
839,000
5 & 6 Various Boston, Treasurer’s Office.
do
do
1897 to 1908
....
4,897,000
6
Various
____
1907-1908
do
do
Various
13,000
5
do
do
1908
588,000
4
A. & O.
Oct., 1902
£100 &e
1,947,27"4
5 g. A. & O. London, Baring Brothers.
Boston, Treasurer’s Office.
1905-1908
3,552,000
5 g.
1909
do
do
268,000
4iag. A. & 0.
1909-1912
do
do
686,000
4 g- A. & O.
1913-1914
do
do
4
1,044,200
Various
1914-1915
do
do
50,000
31a A. & O.
Brooklyn.
1891
1,000
213,000
7
M. & N.
do
1887
1,000
90,000
6
J. & J.
» <0 &
1886 to ’94
do
1,000
490,000
7
J. & J.
do
18861 to 90
1,000
44,000
7
J. & J.
C HÜ
8
1880 to ’90
do
1,000
84,000
J. & J.
7
1886 t o ’90
do
95,000
1,000
7
J. & J.
1886
do
1,000
194,000
J. & J.
7
1886t o ’95
198,000
do
1,000
6 & 7 J. & J.
.MB
1886 t o ’ 88
do
1,000
128,000
7
J. & J
1899-1924
do
3,000,000
1,000
7
J. & J.
1905 to 1928
do
9,245,237 4, 5, 6, 7 J. & J.
1,000
1915t o ’24
8,019,000
do
1,000
6
J. & J.
0
1924
do
1,000
1,217,000
7
J. & J.
$1,000
1,000
1,000
1,000
1,000
. . . .
A lb a n y .—The loan to Alb. & Susquehanna is secured by first mort
gage. The valuation of Albany City in 1884 w as; Real estate, $60,961,465; personal, $6,339,417; tax rate, $2 04. Valuation in 1885—Real
estate, $60,381,215; personal, $6,044,250; tax rate, $2 06. Population,
90,758 in 1880 ; 69,422 in 1870.
A tla n ta .—The total bonded debt Jan. 1,1886, was $2,223.500. As
sessed value of real estate in 1885, $21,023,370 ; personal, $7,889,269;
tax rate, $150. Population, 37,409 in 1880; 21,789 in 1870.
A u g u sta .—Of this debt, $600,000 was issued for railroads, and bal
ance for canal enlargement, water works, &e. Sinking funds, Jan. 1,1885,
$330,000. Taxable valuation in 1885 : Real estate, $11,468,310; per
sonal, $5,088,430; tax rate, $1 6 2 ^ per $100. Population in 1870,
by U. S. Census, 15,389; in 1880, 21,891.
B altim ore .—The Balt. & Ohio RR. 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 $36,733,247 the city is
chargeable with mterest on only $20,4=76,680, and holds productive
assets, including the sinking funds, equivalent to $14,460,394, leaving
on Deo. 31,1885, only $6,016,286 debt over interest-bearing assets.
Interest is raised by taxation on $11,821,025, the city owning $4,396,860 of this amount. There are also held $5,658,500 of improductive secu
rities. Population in 1870,267,354; in 1880, 332,313. Assessed valua
tion, near the full cash value, and tax rate have been :
Real
Personal
Total
Rate of Tax
Fears.
Estate.
Property.
Valuation.
per $1,000.
1882
$187,636,451
$53,597,605
$246,230,189
1370
1883
189,913,494
58,889,738
248,803,232
1500
1884
191,516,113
58,135,586
249,651,699
1600
1885
195,416,894
59,496,377
253,913.271
1600
—(V. 41, p. 720.)
B a n g o r , M e .—The loans to Eu. & No. Am. R. R. to Bangor & Pis. R.
R. are secured by first mortgages on those roads, and interest fully paid
from the earnings. The valuations (near full value) and tax rate in 1884
were: Real estate, $6,505,698 ; personal, $2,807,195; tax rate, 2-60.
Municipal property, including water works, $803,000 Population,
16.851 in 1880, 18,829 in 1870.
B a t h , M e .—The city holds a first mortgage on the Androscoggin road
for thé debt, and second and third mortgages on the Knox & Lincoln for
its proportion of $895,000Jout of a total of $2,395,000 bonds issued by
several cities in aid of the latter road. Tax valuation, 1883—real estate,
$2.775,840; personal, $4,303,935. Tax rate, $25 per $1,000; 1884,
$2,821,511 real estate and $4,095,820 personal; rate, $25.
B o sto n .—The population of Boston in 1880 was 362,839; in 1870,
250,526, against 177,840 in 1860. The gross debt on Jan. 1,188 6 , was
$43,409,945, and the total sinking funds, &c., applicable to it $18,7 1 6 ,831, leaving the net debt $24,693,114. The law of April 17, 1885,
limited the taxation in Boston for city purposes to $9 on the a v erage
valuation of five years preceding, to which is added the tax for city debt
and for State purposes. Up to Jan. 1,1887, the debt shall not be over
21 per cent of assessed valuation, and after that date 2 per cent.
a
Assessed valuation on May 1 for four years has been:
Tax
Net Debt.
Personal
Real
Rate.
Deo. 31.
Estate.
Years.
Estate.
$204,793,812
$15 10
$24,381,025
1882 ............. $467,704,150
14 50
25,311,635
1883
... 478,318,900
204,113,771
17 00
24,766,064
1884
... 488,130,600
194,526,058
12 80
24,693,114
1885
... 495,975,500
189,429,100
B r o o k ly n .—The whole city debt was as follows Jan. 1,1885 and *86.
Jan. 1,1885.
Jan. 1,1886.
$26,365,237
$26,264,543
Permanent d eb t......................................
11,158,000
Water loan.................................................
11,645,500
4,754,000
Debt payable from assessments............
2.618,000
3,000,000
Tax certificates.................................
3,000,000
Gross d eb t..................
Less sinking fu n d ...................................
$43,523,043
7,121,271
$45,277,237
6,471,606
Net debt............................................... $36,406,772
$33,805,630
' Population m 1870, 396,099, against 566,663 in 1880. Valuation of
property and tax rate per $1,000 for three years have been :
Years.
Real.
Personal.
Rate.
1883
.............................$280,800,597
$18,135,909
$26 01
1884
............................ 297,126,666
20,727,406
26 34
1885 ....................................... 311,308,060
19,375,702
29 00
The debt of Kings County, separate from the debt of Brooklyn, is
about $4,000,000, of which the city is responsible for nineteentwentieths.
C ITlr SECURITIES
[.Vai, X L II.
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered In tbese Tables.
INTEREST.
DESCRIPTION.
Size or
Date of
Amount
Principal—When
par
Bonds.
When
Where Payable and by
Due.
* Rate. Payable
For explanations see notes on first page of tables
Value.
Whom.
Brooklyn—( Continued)—
Permanent water loan...................................... 1857 to ’72
do
do
....................................... 1872-’ 75
Sewerage fund bonds, continuous, local..........
Assessment fund bonds, continuous, lo c a l. . . . Various.
Temporary tax certificates...............................
Certificates of indebtedness...............................
1884
Bonds to pay arrears to c ou n ty .......................
1884
Arrearage bonds, reg. (redeem, in 1894)........
1884
Award bonds for lands taken............................
1883
Buffalo, A. Y.—Funded debt bonds..................... 1870 t o ’85
Waterworks bonds............................................ 1869 t o ’85
Tax loan bonds.................................................... 1880 to ’85
Cambridge, Mass.—City bonds............................. 1864 & ’77
City bonds..... ......................................................
1863
............................................................ 1870 to ’76
do
do
............................................................ 1873-’74
do
...........................................................
Water lo a n ..........................................................
1866
do
............................................................ 1870 to ’77
do
............................................................ 1867 t o ’69
do
(only $12,500 are 5s).....................
0 harLesion, 8. 0 .—Fire loan bonds, cou p on .......
1866
Conversion bonds, to redeem past-due d ebt...
do
do
do
1878
do
coup, or reg. .......................
1879
Chelsea, Mass.—Sinking fund bonds....................
Bonds....................... ." .........................................
Funded debt, coup.............................................
do
n otes.............................................
Water loan, coup................................................
Chicago—Water loan......... .............................'___
Water loan............................................................
Water loan (refunding).....................................
1882
Sewerage bonds.......71........................................
“do
..................................................
1880
River improvement bonds................................
Municipal bonds..................................................
Municipal and School bonds.............................
Municipal bonds (refunding loa n )....................
1881
Cook County debt............. 7....... ....................... 1865 to ’ 80
Cincinnati—B’ds for erection of a WorkhouseX
1868
Bonds for Water Works................................C3
1869
Bonds for Common School purposes.............P
1863
Bonds toO. AM. RR. to purchase whf. prop.. N
1855
Bonds for ext. and impr. Water W ..C, D. A E 1847 t o ’50
Bonds for funding floating debt............A& A2 1847 to ’48
Bonds for new Hospital............................S&S2 1867-’68
Bonds for funding floating debt..................... L
1853
Extension and improve. Water Works.. .K &F 1851-’53
Bonds to purchase Orp’n Asyl. grds. for park.O
1858
Bonds foreewerage.......................................... R
1869
Bonds for improving Gilbert avenue............U
1869
Bonds to build Eggleston avenue sewer___B3
1869
Bonds for improvement.................................W
1871
Bonds for Water Work purposes.......... C4AC5 1871-’72
General improvement.................................. W2
1871
Cincinnati Southern R R ....................................
1872
do
do
($2,890,000 are gold 6s)
1876
do
do
......................................... 1878 & ’79
Floating debt bonds, coupon............................
1874
Park i m p r o v e m e n t . .................................
1875
Water-works bonds....................................... D1
1875
Bonds for McLean Ave. sewer..................... U2
1879
Hospital bonds............................................... S3
1876
University......................................................H2
Street improvement bonds, s h o rt................... 1876*to ’83
Consol. s7f. bonds, 30-50 yrs. (Act Apl. 9, ’80, 1880 & ’81
Assessment bonds .................................U3 AU4
Work House and Infirmary...............................
188*2
Deficiency loan (redeemable after 1 8 9 1 ).......
1881
Deficiency and pavement bonds (10-20 yr.) ..
1885
Cleveland—Water works ($200,000 are 6 p. ct.). 1872 to ’85
Funded debt....................................... ................. 1872 to ’85
Lake View and Monumental parks.................. 1872 to ’74
Canal and canal lock ($11,00(1 are 6 s )............. 1874 to ’79
School ($100,000 are 6 p.’ct.)............................ 1869 t o ’71
General bonds, various "purposes..................... 1885 86
Viaduct (mostly F, & a 7 A.'& 0. and J. & D.) 1873 to ’78
Wade Park ........................................................ 1884-’85
Special bonds.......................................................
Kingsbury Bridge..................... ........................ 1884-’85
Des Moines," Jotca—Renewed j udgment bond_
_
1875
Funding bonds, redeemable 1878.....................
1878
Coupon warrants and sewer and pavinglbonds 1882 & ’84
$1000 ? $11,645,500 5 6
1,000 5
Ì 7
1,000
3 la
1,000
3^ A 4
3*2 A 4
4
3*2 A 4
3*2 A 4
....
4
l,000&c
3 to 7
l,000&e
3*2 t o ?
l.OOOAc
479,263 3 to 4*2
1,000
220,000
5
1,000
150.000
5 ff.
615.000
6
500 &c.
6
500 &c.
689.000
4
265.000
1,000
6
100.000
6
874.000
1,000
6
437.000
336.500
1,000
4A5
92,800
7
500.000
7
109.500
6
4
3,413,600
10Ö &C.
6
286.000
25.000
5^
6
992.000
1,000
96.000
4*2
1,000
6
200.000
500,&c.
6
132.000
7
1,000
3.490.000
333.000
100, &c.
3-65
1.675.000
7
500 Ac.
489.500
4*2
1,000
2.608.000
7
6
186.000
1,000
500 Ac.
2.536.500
7
4
843.500
4.941.500 4*2 to 7
500 Ac.
250.000
1,000
7 3-10
150.000
1,000
7 3-10
98.000
1,000
6
194.000
1,000
6
397.000
500 Ac.
6
171.500
500 Ac.
6
750.000
1,000
7 3-10
60.000
1,000
6
175.000
1,000
6
131.000
1,000
6
1,000
150.000
7 3-10
150.000
1,000
7 3-10
100.000
1,000
7 3-10
133.000
1,000
7 3-10
450.000
1,000
7
600.000
1,000
7
500 Ac.
7 3-10
8.191.000
500 Ac.
4.825.000 6g. or 7-3
1,000
2.260.500
6A 7
1,000
995.000
7
1,000
7
65.000
1,000
7
200.000
175.000
1,000
5 A6
50.000
7
76.000
7
198,265
5A7
1,000
2 .002.000
4A5
64,706
4A5
Too
104.000
4A6
100 Ac.
4
500.000
4
1.273.000
1,0‘b o
1.775.000 3-65 to 7
1,000
1.824.000 4, 5, 6, 7
1,000
7
315.000
1,000
275.000
6A 7
1,000
7
150.000
400.000
4-4 *2
1,000
2.138.000 5, 6 A 7
1,000
6
193.000
1,000
708.000 ' 4, 5, 7
185.000 4, 4*2. 5
7 A4
1,000
228.000
1,000
7
175.000
5
182.000
J.
J.
J.
J.
A
A
A
A
J
J
J
J
J. A J
Brooklyn.
*.
do
do
do
a §«8^ §
.
do
22
ci
do
do
do
do
Buffalo and New York.
do
do
do
do
Boston, Bank Redemption.
Boston, Tremont Bank.
Boston, Bank Redemption.
do
do
do
do
do
do
do
do
do
do
do
do
Charleston, Treasury
do
do
do
j 1886 to 1916
3 years from date.
3 years from date.
1924
1924
1893
Various
1886 to 1925
Various
1886 to 1909
I. A J
1886 to 1900
4. A O.
1887 A 1889
I. A J.
Jan. 1,1893
J. A J.
1886 to ’96
I. A J
July, 1903-4-5
1895 A 1905
J. A J.
July 1,1886
J. A J
July 1,1890 to ’97
4. A O.
Apl. 1,1887-1889
....
1894-’98-1910
J, A J.
1890
4. A O.
1888 to 1897
1898
j; a j .
Jan. 1,1909
....
1884 to 1908
....
1884 to 1888
Various Boston, N. Bk. Redemption
1891 to 1895
Various
1889-1890
F. A A. Boston, N. Bk. Redemption Aug. 1,1887-95
I. A J. N. Y., Am. Ex. Nat. Bank.
1897 A ’98
J. A J.
do
do
July 1, ’88 to '95
I. A J.
do
do
1902
I. A J.
do
do
1888 to ’95
I; a j .
do
do
July 1,1900
j. & j .
do
do
1890 to ’95
J. A J.
do
do
July, 1895 A ’96
J. A J.
do
do
1886 to ’99
....
do
do
1901
M. A N. N. Y., Metropolitan Bank. May 1 , 1885-’92
J. A D. N.Y., Am. Exch. Nat. Bank.
June, 1888
J. A D.
do
do
1889
J. A J.
do
do
Jan., 1890
M. A N.
do
do
Nov., 1890
4. A O. Phila., Bk. of North Amer.
April, 1895
M. A N.
do
do
May, 1897
Various N.Y , Am. Exch. Nat. Bank.
1897 A 1898
J. A J.
do
do
Jan., 1900
Various Phila., Bk. of North Amer. June A Get., 1900
M. A S.
Cincinnati.
Mar., 1888A 1908
M. A S. N. Y., Am. Exch. Nat. Bk.
Sept., 1899
M. A S.
do
do
Sept., 1899
A. A O.
do
do
Oct., 1899
J. A D.
do
do
March 1,1886
F. A A.
do
do
Aug., 1886-’97
J. A D.
do
do
Dec. 1,1891
J. A J.
do
July 1, 1902
do
M. A N.
do
do
May 1, 1906
Various
do
do
1902-1908-1909
M. A N.
Cincinnati.
May 15,1904
J. A J. N. Y., Am Exch. Nat. B’k.
1890
F. A A.
Cincinnati.
Aug.,’90 A ’95
M. A N. N.Y., Am. Exch. Nat. Bank. May 1889-1909
M. A N.
C.ncinnati.
May 1,1906
F. A A.
Aug. 1, 1897
Various
Cincinnati.
1886 to ’95
Various N. Y., Am. Exch. Nat. Bk.
1930 A 1931
Various
1889 A 1890
J. A J.
Cincinnati.
July 1, 1886 to 92
J. A D. N. Y., Am. Exch. Nat. Bk.
J u n e l ,1901
Various
1905
Various S'. Y., Am. Exch. Nat. Bk.
1892 A 1903
Various
do
do
1886 t o ’97
Various
do
do
1887 t o ’92
do
Various
do
1894 to ’98
do
Various
do
1887-88
do
Various
do
1888-1901
do
Various
do
1893 A 1907
do
Various
do
1889
do
Various
do
1886-’95
do
Various
1899-1900
do
r. A J. New York, Kountze Bros. luly, 1885 or ’92
r. A J. S. Y. Chemical Nat. Bank. July, 1888 or ’ 98
T
Various Des Moines and Boston.
Various.
J. A J
....
B u ffa lo ,—Valuations and tax per $1,000 have been:
^he assessed value of real estate is about one-third of its true value.
Years.
Real estate.
Personalty. Tax Rate.
opulation in 1870 was 298,977, and in 1880,503,185. The South Park,
1878.............................................$80,929,165
$7,947,380
1760
West Chicago park and Lincoln Park loans are not debts of the city,
1883 ........................................ 93,167,090
8,796,675
16 27but of distinct corporations.
1884 ........................................ 96,341,455
8.459,735
1644
1 8 8 5 ..............................
99,912,470 8,461,675
1721 C in cin n ati.—City holds $1,274,000 of Cincinnati Southern bonds in
Buffalo also pays 77-100 of Erie county debt. Coupon bonds are exchange sinking funds. In 1870 the population was 216,239, against 255,139 in
able for registered. The interest on different bonds is 3*2, 4, 4^2, 5,6 1880. The following table from the books of the Auditor of Hamilton
and 7 per cent. Population, 202,803 in 1885:154,766 in 1880; 117,714 County, Ohio, exhibits the assessed valuation of the city of Cincinnati
in 1870.
in the year 1860, and from 1870 to 1884:
C am bridge, M a ss.—The sinking funds, Nov. 30,1885, amounted to
Real
Personal
Total
Tax per
$1 ,387,327. The investments are nearly all in city bonds at par and
Estate.
Estate
Valuation.
$1.000.
stamped “ not negotiable. Valuation, 1885, real estate $42,588,300; Years.
$31,411,912
$93,032,716
$17 45
personal $12,758,255; total, $55,346,555; tax rate, $1 55. Valuation I860................$61,620,904
1870............... 78,736,482
57,370,754
136,107,236
31 60
m ’ 84, $41,289,200 real estate>nd $12,259,491 personal; total, $53,548,«
56,934,044
180,361,932
22 20
691; tax rate, $1 68 per $100. Population, 52,669 in ’80; 39,634 in ’70. 1871............... 123,427,888
1872 .............119,621,856
55,462,410
175,084,296
20 10
C h arleston, S. C.—The bonds of Charleston are mostly held within
64,166,460
185,645,740
23 06
the 8tate of South Carolina. Conversion bonds of 1878 and 1879 are issued 1873 ............ 121,479,280
58,708,284
181,950,074
23 38
in exchange for city stock. Valuations and tax rate per $1,000 have been: 1874 ............ 123,231,790
58,521,730
184,498,565
24 82
Years.
Real Estate.
Personal Prop.
Tax Rate. 1875 .............125,976,835
56,809,066
183,952,966
27 04
1883 ................................... $15,854,575
$7,419,784
$23801876 ............ 127,143,900
50,609,872
179,430,142
29 10
1884 ............
16,246,865
8.186,216
20001877 ............ 128,820.270
1878 .............129,043,880
43,830,188
172.874.068
28 54
1885 .................................. 16,753,760
8,138,153
2000
1879 .............128,473,130
40,832,505
169,305,635
28 98
—Population, 49,984 in 1880; 48,956 in 1870.
1880 ............ 129,956,980
37,578,376
167,535,356
31 00
Chelsea, M a ss,—Sinking fund, Jan. 1, 1885, $286,653, and debt, 1 8 8 1 .............. 120,045,230
41,359,163
161.404,393
22 20
$1,661,800. Valuation in 1884, $18,153,497; tax rate, 18'60. Tax val 1882 .............. 138,342,188
28,643,917
166,986,105
23 82
uation, 1883, $17,374,335; tax rate, $18 40. Valuation in 1882, $17,029,- 1883 ............ 122,874,790
47,050,496
169,925,286
20 50
722; tax rate, $18 80. Population, 21,782 in 1880; 18,547 in 1870: 1 8 8 4 ............. 124.625,370
41,908,822
169,534,192
25 56
24,347 in 1884.
1885 ...............................................................
170,086,968
.........
C h icago.—The city debt is limited to 5 per cent of the Illinois State
valuation. Of the funded debt, $3,955,000 is on account of the Water The city is the sole owner of the stock of the Cincinnati Southern Rail«
Works, which yield an income much above the interest charge on the debt road, leased as per terms, V. 33, p. 281, and with the waterworks and
_
/-------- Equalized Value.-------- . Tax Rate. other property, real estate, and bonds held for investment, has assets
Years.
Real Estate.
Personal, per $1,000. put at $34,461,188.
1880 ......................................... $89,031,955
$28,101,678
$33-33
C levelan d.—The sewer, street improvem’ts and street opening bonds
1881 ....................................... 90,099,045
29,052,906
34-72
1882 ...................................... 95,881,714
29,052,906
33-72 are for special localimprovements, and redeemed by assessments on the
1 8 8 3 ............... . ..................... 101,596,787
31,639,717
34 1 0 property benefited.^ Assessed valuation, taxf rate, debt and ^sinking
1884 ...................................... 105,606,743
31,720,237
34 8 2 funds have been:
A p r il ,
1886.]
CITY
9
SECURITIES.
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered in these T ables.
DESCRIPTION.
For explanations see notes on first page of tables.
Date of
bonds.
Size or Amount
par
outstanding.
value.
Rate.
INTEREST.
When
Where payable and by
payable
whom.
Principal—When
due.
.
Detroit,Mich.—For Water W.Co., on city’s credit 1855 t o ’81 $500Ac. $1,451,000 4 to 7 Various
V., First Nat Bank.
1887 to 1906
Public Building stock (City Hall) bonds.......... 1859 to ’71 '
Various
7
do
412.500
do
1886 to ’91
Public sewer bonds ($35,000 are 6s)................ 1872 to ’77
6 A 7 F. & A.
292,000
do
do
1892 t o ’97
Bonds for purchase Belle I s le ..........................
1879
F. A A,
4
100,000
do
do
1899
Bonds for Bridge................................................
1886
5,000
30,000
do
do
3*2 J. & J.
Jan.. 1911
Market bonds.......................................................
1880
36,000
1886-1892
Elisabeth, N. J.—Improvement bonds................ 1871 t o ’74 1,000
Various
850,000
7
City Treasury,
1879 t o ’81
Funded debt bonds............................................. 1870 t o ’75 1,000
Various
435,000
7
do
1882 to ’95
School House bonds..................... ..................... 1872 to ’73 1,000
Various
48,000
7
do
1882 t o ’93
Market House bonds.......................................... 1865 to ’66 1,000
7
Various
41,000
do
1882 to ’86
Consolidated improvement bonds..................... 1875-’76
A. & O.
1,000
764,000
7
do
1885 to ’96
Funded assessment bonds. „ .............. ..............
1877
J. A D.
1,000
260,000
7
do
1907
Tax arrearage bonds..........................................
1876
M. & N,
1,000
196,000
7
do
1886
1882
New Adjustment bonds and scrip....................
500 Ac.
J. & J N. Y., Mercantile Trust Co.
4
1,656,720
July 1, 1912
Evansville, Indiana—E. H. & N. RR. bonds___
1868
1,000
M. & N, N. Y., Farmers’ L. A Tr. Co.
250,000
7
Maj 1, 1898
City wharf bonds................................................
1869
1,000
M. A N,
do
100,000
7
do
May 1, 1899
E. C. &P. RR. b o n d s ................... *...................
1870
1,000
J. & D
196,000
7
do
do
Dec. 1, 1890
do
do
...........................................
1870
1,000
J. & D
do
100,000
7
do
Dec. 1, 1895
W ter works bonds.......... ................................
1870
1,000
300,000
7 3-10 J. A J.
do
do
July 1, 1895
Redemption bouds...............................................
1876
1,000
A. & O
300,000
7
do
do
April 1, 1906
do
do ..............................................
1876
1,000
M. & N,
105,000
7
do
do
May 15,1906
do
do ..............................................
1877
1,000
J. & D
100,000
6
do
do
June 1, 1907
do
do ..............................................
1878
1,000
do
100,000
6
do
April 15,1908
do
do ..............................................
1881
1,000
100,000
6
F .'& A
do
do
Feb. 1,1911
Full River, Mass.—City notes..............................
....
Large.
311,000 378 4, 6 Various
City Treasury,
>
Nov., 1885 t o ’ 92
.... lOOOAc.
City bonds............................................................
Various
45,000
6
do
1891
do
............................................................
....
1,000
600,000
Boston, Revere Bank.
Aug. 1,1894
5 £• F. & A
do
............................................ ................
....
1,000
450,000 5 A 6 M. A N, Boston, Bank Redemption,
May 1,1895
__
............................................................
do
....
100,000
4
do
do
May 1, 1895
do
............................................................
....
....
261,860
5A 6
do
do
1896-’97-’98
do
(sewer)................................................
....
1,000
125,000
City Treasury.
37s M. A N,
May 1, 1905
Water loan............................................................
1,000
500,000
Boston, Bank Redemption, Feb. 1,1900-1909
do
............................................................
1,000
M. & N,
450,000
6
do
do
Nov. 1,1892-1906
do
............................................................
....
1,000
F. & A,
550,000
6
do
do
Aug. 1,1899-1905
do
............................................................
....
200,000
May 1,1908-1909
Fitchburg, Mass.—City bonds...............................
1873
1,000
400,000
6
J. & J Boston, Merchants’ Bank
July 1,1893
Water loan...........................................................
1871
1,000
300,000
6
J. & J
do ^
do
July 1.1891
do
..... .....................................................
1875
1,000
100,000
6
J. & J
do
do
July 1,1905-1906
do
registered.........................................
1883
1,000
50,000
A. & O
4
City Treasury.
Oct. L 1903.
Galveston, Texas- Bonds for various purposes... 1869 t o ’75 100 Ac.
21,800
10
Various Galveston, City Treasury,
1885 t o ’91
Limited debt bonds (sinking fund 2 per cent). 1877-8-9 100 Ac.
M. & S,
510,100
8
do
1893-1909
do
do
............................................
....
100 Ac.
808,900
5
J. A D
New York or Galveston.
1920-1925
1882
Galveston County bonds, G. C. & 8. F. R R ___
417,000
6
J. & J. N. Y., Bank of New York.
1902
Hartford, Conn—Water bonds............................. 1865-’81
1,000
937,000
5 A 6 Various
City Treasury.
1890-1906
City bonds (H. P. AF. RR.)........ ’.......... ..........
1876
1,000
500,000
6
J. & J
Suffolk Bank, Boston.
Jan. 1, 1891
Funded debt.........................................................
1868
1,000
300,000
6
A
City Treasury,
Jan. 1, 1893
1872
Capitol bonds.......................................................
1,000
1,000,000
6
&
do
Jan. 1, 1897
Hartford town debts to railroads 10-25.......... 1879-’80
1,000
1,250,000
A
Town Treasury,
4^2
10 to 25 years
do
do
war............... s..................
1863
1,000
90,000
6
do
A
$10,000 yearly
do
floating debt..............................
1,000
203,000
6
A
do
Jan., 1900
Hoboken, R. J.—Bonds.....................................
1864-’79 500 Ac.
224,000 6 A 7 Various First Nat. Bank, Hoboken
1886 to 1905
City bonds............................... .........................
1872
500 Ac.
119,500
7
A. & O.
do
do
1892
School bonds...................................... ................ 1877-’79
1,000
43,750 6 A 7 Various
do
do
1892 to 1894
Water bonds............. .......................................... Various. 500 Ac.
91,500 5, 6 ,7 Various
do
do
1890 to 1903
Improvement bonds............................................ 1878-’81
1,000
608,000
5 A 6 Various
do
do
1898 to 1901
City Hall and Engine House bonds.................. 1880-’83
1,000
75,000 5 A 6 Various
do
do
1903 to 1910
Holyoke, Mass.—City notes..... ............................ 1871-’74
180,000
City Treasury,
4 to 7 Various
1885 to 1889
City bonds, sinking fund.......... .........................
1874
1,000
271,000
A. & O.
do
6
Oct. 1,1889
Water loan
do
.....................................
1872
1,000
250,000
6
J. & J.
do
Jan. 1,1900
Railroad loan do
($60,000 are J. & J .).
1873
1,000
226,500
do
7
A. & O.
Jan.AApr.l, 1894
Indianapolis—B od(1 to railroads...................... 1869 to ’70
s
500
155,000
City Treasury.
Jan.
6
Jan. 1, 1889 to ’90
Bonds to Un. RR. Tr. Stock Yard (mortgage).
1877
1,000
500,000
6
J. & J. N. Y., Winslow, L. A Co.
Jan. 1, 1897
Loan bonds, series A ..................... ....................
1873
1,000
do
300,000
7-3 J. & J.
do
July 1, 1893
do
do B
1874
1,000
300,000
do
7-3
do
A J.
July 1, 1893
do
do 0
1874
1,000
300,000
do
do
7-3
A J.
July 1, 1894
do
do D
1875
1,000
200,000
do
7-3
do
A J
July 1, 1895
Purchase-money bonds—Southern Park..........
1874
500
109,500
do
do
7-3
A J
Jan. 1, 1899
Jersey City—Water loan bonds, mostly coupon 1852 t o ’77 1,000
984,000
., Merch. Ex. N. Bi
6
A J
Jan., 1889 to 1909
Water loan bonds,mostly coupon.................... 1869 to ’73 1,000
3,329,000
do
do
7
Various
1899 to 1913
Water loan...........................................................
__
200.000
do
5
do
Feb. 1, 1 9 1 3 ---Forty-year bonds.................................................
1872
1,000
517,000
do
do
7
July I f 1913
J. A J
Improvement bonds............................................ 1871-’72 500 Ac.
2,669,000
do
do
M. A N
7
May, 1891
do
do
............................................ 1872 t o ’74 1,000
2,630,500
do
do
Various
7
1892 to 1906
Morgan street dock............................................
1870
1,000
125,000
do
do
J. A J.
7
June 8, 1900
Funded debt bonds..............................................
1872
1,000
500.000
do
M. A N.
do
7
May 1,1897
Old Jersey City bonds, coupon.......................... 1864-’65
1,000
558,000
do
do
Various
7
1889-1890
Hudson City bonds............................................. 1864-’70 Various
100,000
do
do
Various
7
1889 A 1900
Bergen school loan bonds.................................. 1868-’70 1,000Ac
150,000
do
do
J. A J.
7
Jan., ’98 to 1900
Bergen street improvement b on d s............. .
1869
l.OOOAc
400,000
do
do
J. A J.
7
July, 1889
do bounty loan............................................
1865
Various
41,000
do
7
Various
do
1889
Assessment funding bonds................................ 1875-’76
900,000
do
do
Various
7
1905-1906
__
Revenue bonds, coupon or registered............. _ 1876
400,000
J. A D.
do
do
7
June 1,1886
Temporary loa n ............. .................................
....
....
975,000
Demand,
5*2
Bonds to fund floating debt. Ac.. coup, or reg.
1879
1,000
1,353,000
F. A 'A . N. Y., Merch, Ex. Nat. B’k
6
Feb.l, 1909
Bonds to pay maturing bonds, A c...........
1880-’l
l
600,000 5 A 6 Various
do
do
1910-1911
City of Jersey City loan............................
1884
.... 1 1,000,000
6
1904
Years. Real A Personalty. Tax $ 1,000. General Debt. Special Debt.
P all R iv e r, M a ss,—The sinking funds amounted to $861,389 Jan. 1,
1 8 8 4 ........ $85,978,005
$14210
$6,386,000
$375.800 1886. Total debt, including water debt, $3,572,861. Population in 1885,
1 8 8 5 ........ 83,285,845
14720
6,917,000
708,000 56,863; 48,961 in 1880; 26,766 in 1870. Valuation in 1885, $43,815,275.
—Population, 160,146 in 1880; 92,829 in 1870.
F itch b u rg , M a ss.—Population 12,270 in 1880; 11,260 in 1870.
Des M o in es, l a . —Assessed value of property $7,200,000, which is
tax
$1,000, A c.:
about 20 per cent of true value. Tax rate, $5 per $100. Warrants out Valuation, Realrate per Pers’i Prop’ty. Tax.
Years.
Estate.
Debt.
standing Jan., 1885, $90,082 ; cash on hand, $51,275. The renewed 1885 .......... $7,998,725 $3,055,653 $16 80 $850,000 Sink. Fd. Jan. 1.
$178,311
judgment bonds for $170,000 are paid off July, 1885. Populationin 1870, 1 8 8 6
8,422,675
3,071,887
18 20
850,000
, " 204,130
12 J535; in 1880. 22,400.
D etroit, M ic h .—There are also $10,000 House of Correction bonds —The assessed valuation of real estate is about the cash value.
due 1893. Assets in sinking fund July 1,1885, $838,238; net city debt,
G alveston , T e x a s .—Assessed value of real and personal property.
$12,261. The population in 1870 was 79,577; in ’ 80,116,340; in 1883, 1883-84, $18,222,700. Tax rate, $1 50 on $100; 1884-85; valuation,
130,000. The value of water works Jan. 1, 1885, was $3,478,565, $18,588,196; tax rate 1 50. In April, 1882, the Galveston County 10
against a debt of $1,451,000 Sept., 1885.
The water works bonds per cent bonds were called in and 6 per cents issued instead. Popu
are issued on a pledge of the city credit, and $75,000 per year collected lation in 1870,13,812; in 1890, 22,248; 1882, estimated, 32,000.
in taxes to pay interest on them. Valuations (based on true value) and
H a rtfo rd , C on n .—Total city debt, April 1,1885, $2,787,000; net,
ta x rate have been :
Years.
Real Estate.*
Personal.
Total.
Tax Rate. after deducting resources, $1,969,667; net town debts, Oct. 1, 1884,
1834........ $82,793,115
$27,928,880
$110,721,995
$11-41 $1,248,021. Assessed valuation in 1883, $46,000,000; in 1884, $16,000,28,713,300
116,249,945
10-77 000. Population, 42,553 in 1880; 37,743 in 1870; 30,000in 1883.
1885 ....... 87,536,645
E liza b eth . N. J .—Default was made in interest February 1, 1879.
H o b o k e n , N. J . —
The total debt June, 1885, was $1,161,750.
Suits on bonds are pending. Old unadjusted bonds and loans are Assessed valuations in 1884: Personal, $1,343,941; real estate, $14,672,$2,592,739. Total bonded and floating debt July 15, 1885, $4,264,- 700; tax rate, 2-35; population, 35,000.
•640. A proposition to issue 4 per cent bonds at 50 per cent of the
Ho
ss.—Bonds all coupon, but can
Total net
lace value o f old bonds was made, and $1,656,720 of the new bonds debt, ly o k e , M aValuation, 1885, $16,135,525; be registered. 20. Valu
$734,206.
were issued up to July 15,1885. The Mercantile Trust Company in New ation in 1884, $15,527,995; tax rate, $14 80. tax rate, $17 21,915 in
Population,
York acts as the agent. Assessed valuations and tax rate have been as
follows: In 1881, $12,296,307, rate, 1-96; in 1882, $12,182,035, rate, 1880; 10,733 in 1870; 27,895 in 1885.
In d ia n a p o lis.—The Sohool Board is a distinot organizat’n and levies
3-12; in 1883, $12,471,115, rate, 2-61; in 1884, $12,341,735, rate, 2-00.
In 1885 $12,465,760, rate 2-64. Population 1880, 28,229; in 1870, its own tax ($2 20 for 1884), which is inoluded in tax rates. There
are a few other small issues amounting to $50,000. Valuation and tax
20,832. —(V. 39, p. 581; V. 40, p. 625; Vol. 42, p. 93.)
E v a n sv ille, I n d .—There has been default in payment of interest per $1,000 have_beenj^
Real Estate.
Personalty.
Total.
Tax.
and suit has been brought against the city on the water bonds. Popular" Years.
$13,792,290
$53,128,150
$11-20
■tion in 1870,21,830; in 1880, 29,280. Assessed valuation (true value), 1883 ......... ........$39,335,860
1884 .................. 40,149,950
13,891,650
54,041,600
12-20
ta x rate per $1,000 and debt have been:
—
Population, 75,056 in 1880
8,244 in 1870.
Years.
Real Estate.
Personalty.
Tax.
Debt.
1884 ................$13,527,090
$6,519,820
$10 00
$1,651,000
Jersey C ity.—One of the main causes of past trouble in Jersey City
1885 .................. 13,606,645
6,682,895
10 00
1,651,000
finances has been the failure to collect back assessments and the large
- (V 41, p. 494, 527.)
amount of railroad property exempt from taxation.
IO
CITY SECURITIES.
[V ol . XLII.
Snbscrlbers w ill confer a great favor by givin g Im m ediate notice o f any error discovered tn these T ables.
INTEREST.
DESCRIPTION.
Date of
Size or
Amount
Principal—When
par outstanding.
Bonds.
When
Due.
Rate. Payable Where Payable and by
For explanations see notes on first page of tables
Value.
Whom.
Kansas City, Mo.—Renewal bonds....................... 1875 to ’81 $ . . . .
Funding bonds.....................................................
1873
Floating debt b o n d s .........................................
1875
....
Railroad bonds....................................................
....
School bonds.......................................................
1885
Lawrence, Mass.—Sewer loan...............................
500&C.
1884
Funded debt..... ................................................... 1862 t o ’75 5000&C.
..................................... ..................
do
1874
1,000
Water loan.....................................................
1873-’75 500 &C.
Lewiston, Me.—City bonds ($50,000 each year).
City bonds............................................................
Bonds...................................................................
Bonds....................................................................
New bonds............................................. .............
1883
500 &c
Water bonds.........................................................
Louisville, K y.—Water works..................... ........ 1857tô’’67 1,000
For improvement of streets............................ 1866 t o ’67 1,000
For municipal improvement.............................
1883
500 &c
Re-constructing street............................. ........
1,000
1873
Public buildings and institutions........ .......... 1871 to ’73 1,000
Public school and school houses............... ....... 1853 t o ’69 1,000
Sewer bonds.........................................................
1,000
1868
do
........................................................
1,000
1871
Elizabeth & P. Railroad..................................... 1868 & ’73 1,000
Wharf property................................................... ’54,’62,3,8 1,000
Jail bords.............................................................
1,000
1869
For old liabilities................................................. 1871 to ’74 1,000
do
do
...............................................
1,000
1868
Louisville, New Albany & St. L. Air Line RR.
1871 r 1,000
Road bed, Louisv., Cin. & Lex. R R .................. 1871 t o ’73 1,000
City bonds payable' by Louisv. & Nash. R R ... 1851 t o ’63 1,000
Old liabilities (half are 10-40 and half 20-40).
1880
1,000
Lowell, Mass.—City notes (various purposes)... 1862 t o ’84 Large.
Bridge notes.......................................................
1882
Large.
Bridge bonds.......................................................
1882
1,000
Sewer bonds......................................................... 1882 & ’83 1,000
Water notes.................................. ».................... 1871 to ’ 81 Large.
Water bonds.........................................................
1870
1,000
Sewer notes.......................................................... 1883 & 84
Bridge notes.........................................................
1883
Lynn, i f ass.—Water notes.................................... 1870-’3 -’5 Large.
Water bonds......................................................... Various
1,000
Funded debt..................... .................................. Various 500 &c.
City Hall and School Houses............................ Various
1,000
Engine House and sewer b o n d s .......................
1884
1,000
Manchester, N. S .—City b o n d s ............................ 1863-’69
Water bonds ($100,000 each year)..................
1874
10Ö&C.
do
do
do
...................
1872
100 &c.
Bridge bonds........................................................
1881
100 &c.
Memphis, Tenn.—School and paving bonds........ 1867 to ’68
Post bonds............................................................ 1867, ’8, ’9 50Ö&C.
Funding loan, gold.............................................
1870
1,000
Mississippi River Railroad bonds....................
Endorsement Memphis & Little Rock R R .......
Ì857
1,000
Compromise bonds, coupon (r’lippen).............
1877
1,000
New compromise bonds......................................
1883
1,000
Milwaukee, Wis.—Re-adjustment bonds.............
1861
500 &c
General city bonds.............................................
1871
1,000
do
do
(not liable to be called in)
1876
1,000
do
do
...........................................
1885
Bridge bctads.............., ....................................... 1882’83’ Ò O
l Ò
Water bonds, coupon..........................................
1872
1,000
do
registered.......................................
1872
10,000
do
coupon.......................... .................
1883
Waterworks refunding....................................... 1883- ’84 l'.ò'oo
Minneapolis, Minn.—City bonds........................ 1870 to ’75
City bonds............................................................ Ï871 to ’77
do
............................................................
1879
do
1881
do
($366,000 due 1912 are red. .1902). 1881 to ’86 1,000
i f ob w —Funding bonds........................... I...........
1881
500
Nashville, Tenn.—Various city bonds................ 1870 t o ’81 100 &c,
Municipal Bridge bonds.....................................
1885
1,000
Waterworks................,.............................. ........
Newark—War bds.,iioat’g debt, &c. (s.fd. of ’64)
l ’ ò'oo
Public school bonds............................................. 1868 to ’84 12)00
Clinton Hill bonds, coup. & reg. (s. fd. 3 p. c.).
1875
1,000
Corpora te bonds, coup, or reg. (act Apr. 21,’76) 1878-’80
1,000
Sewer and improvement bonds (local liens). . 71-’79-’86 1,000
Aqueduct Board bonds($2,490,000due in ’92)
1,000
Tax arrearage bonds.......................................... 1876-’78
1,000
do
do ...................................... . 1879 to ’84 1,000
do
do ............................................
1885
Funded debt bonds.................................. ..........
1885
AnneKation bonds, reg..................... .................
1886
1,000
$390,000 6, 7 & 8
250.000
8
142.500
8
248.000
7
60,000
5
300.000
4
107.000
6
262.000
6
1.300.000
6
50.000
6
6
185.000
30.000
6
131.000
4ifi
4
200.000
474.000
1.173.000
197.000
1.500.000
600.000
549.000
66.000
81,000
423.000
1.723.000
160.000
133.000
58.000
513.000
484.000
350.000
1.408.000
1, 000,000
469,300
200.000
120,000
382.500
575.000
1.300.000
176.500
77.000
121.500
1,081,500
595.000
357.000
55.000
165.000
200.000
400,000
60.000
6
¿ '1
H
2.400.000
171.000
206.000
98.000
150.000
153.000
363.000
1.007.000
135.000
278.000
621.000
360.000
40.000
22.000
1.957.000
2,233,500
1,395,600
200.000
450>00
1.405.000
576.000
400.000
1.200.000
2.450.000
3.285.000
888.000
1.002.000
112,000
232.000
126.000
New York, Ninth Nat. Bank 1895 t o ’98 & 1901
do
do
May 1, 1893
do
do
1895
do
do
1890 & ’97
J. & J.
1905
J. & J.
Lawrence or Boston.
Various Boston, Tremont Bank,
1885 to 1892
J. & J.
do
do
July 1,1894
A. & O.
do
do
Oct. 1, ’90, to w o e
J. & D. City Treasury and Boston,
1888
J. & J.
do
July 1, 1901
do
July 1, 1885
J. & D.
do
1894 & 1899
J. & J.
do
July 1, ’93-1913
A. & O.
do
0 c t.l,’97-1907-’17
Various N. Y., Bank of America.
1887, ’89, 97
Various
Louisville.
1886,’ 96, ’97
J. & J.
New York City.
1923
J. & J. N. Y., Bank of America,
July 1, 1903
Various
do
do
1891, ’92 & 1903
Various New York, U. 8. Nat. Bank.
1886 t o ’ 89
J. & J. Louisville, City Treasurer.
July, 1898
J. & D. N. Y., Bank of America.
June, 1901
Various
do
do
1888 & 1903
Various Louisville and New York,
1888 to 1898
A. & O.
do
do
Oct. 1, 1898
J. & D.
do
do
1889
Various
do
do
1894 & 1901
M. & 8. N. Y., U. 8. Nat. Bank.
Sept., 1891
J. & J N. Y., Continental Nat. Bk, July, 1901 & 1909
Various New York and Louisville.
1886 t o ’ 93
M. & N N. Y., Bank of America.
May 1, 1920
Various
City Treasury.
18&5 to 1894
M. & N
Boston,
1891 and 1892
1Q O
Q
M. & N,
do
Various
do
1884 to 1903
Various
City Treasury.
1886 to 1911
M. & N
Boston.
1890
Various
City Treasury,
10 per ot. annually
Various
do
10 per ct. annually
Various
City Treasury.
1885 to 1890
J. & J Boston, Bank Republic,
1891 to 1913
Various
do
do
1884 to 1896
Various City Treas’ry & Bk. Repub.
1886 to 1890
Various
do
do
City Treasury.
Various
1885 to 1894
J. < J.
fe
Suffolk Bank, Boston.
July 1,1890 & ’95
J. & J.
City Treasury,
1887-’92-’97-1902
J. & J.,
do
July 1, 1911
1873 to 1902
J. & J.
Memphis.
[
1873 to 1900
M. & N.
Nov., 1900
J. & J.
7
Charleston, 8. C.
J. '& J.
July. 1872
J. & J. N. Y., Chemical Nat. Bk.
1907
do
do
1913
J. '& I). Mil.&N.Y., Morton B. & Co.
June 1,1891
do
do
J. & J.
Jan. 1, 1901
J. & D.
do
do
June 1,1890
do
do
J. & J.
1005
dt)
do
J. & J.
July 1,1902
do
do
Jan. 1 , 19b2
J. & J.
Jan. 1,1962
do
do
J. & J.
do
do
J. & J.
1903
do
1903-1904
do
J. & J.
Various New York, Nat. Park Bank,
1886-1905
VariouSi
1897-1902
do
do
do
do
July 1, 1899
Various
6
1Q Q
Q
do
do
Various
5
do
do
1906 to 1910
4-412 Various
Jan. 1, 1900
New York and Mobile.
3 to 5 J. & J.
1886 to 1903
Various New York and Nashville.
6
A. & O. N. Y., Chemical Nat. Bank,
Oct. 1. 1905
5
do
do
3
1907-1915
1886 t o ’96
6 & 7 .Various Newark, City Treasury,
April, 1886, to’ 92
do
do
k . & O.
5&7
July 1, 1895
J. & J. Newark, Nat. State Bank,
7
1909 & 1910
do
do
5 & 6 Various
do
do
1893 & 1906-’O9
4 & 7 M. & 8.
do
do
1892 to 1909
Various
7
1886-’90
do
do
F. & A.
7
1891-’94
do
do
F. & A.
5
July 1.1895
do
do
J. & J.
5
1895
F. & A.
do
do
5
1906
4
6
3-4
5
7
7
4
4
7
7
4
4
8
7
Tot. taxes overdueDec. 1,1885, less due State and Co., about.$4,000,000 $27,548,581; tax rate, $18*40. Population, 28,233 in 1870; about
Total assessments due and unpaid about.................................. 2,800,000 45,000 in 1883.
Collections in 1885 were better than expected, and $361,000 of
M anchester. IV. H . —There are
before 1885.
arrears came in. Population in J880,120,722, against 82,546 in L870; Total debt Jan. 1, 1883, $927.500 also $16,000 5s due$20,055,986 ;
Valuation in 1883,
in 1885 by the State census population was 155,3b0. Taxable valua tax rate, $1,650 per $1,600. Valuation in 1884, $20,613,032 ; tax rate,
tions and tax rate per $1,000 have been:
fears.
Real Estate.
Personal Prop.
Tax Rate. $17 50 per $1,000. Population, 32,630 in 1880; 23,536 in 1870.
1882.................................... $56,125,552
$5,640,300
$2900 M em p h is, T e n n .—The city was in default for interest after Jan. 1,
1883
........................... 58,287,892
4,664,390
29401873. The Legislature passed a bill, January, 1879, repealing the city’s
1884
......................... 61,571,512
4,564,683
3280charter, and the “ Taxing District of Shelby County” was organized.
The compromise bonds of 1877 were issued at 50 cents on the dollar.
Estimated tax rate in 1885-86, $29*20 per $1,000.
Under the act of Tenn. March 3,1883, new compromise bonds are issued,
K a n sa s City, M o .—In 1885 assessed valuation was $31,678,520 bearing 3 per cent till January, 1886, then 4 per cent till 1889, and 6
and tax rate 15 mills. In ’84 valuation, $30,900,000; tax levy, 15 mills. per cent thereafter. The total debt when funded will be nearly
L a w ren ce,M ass.—1 otal debt, $1,764,ObO. Sinkingfunds, $325,534. $3,000,000. Valuation of real and personal property in 1883, $12 690,T
Tax valuation, 1882, $26,269,506; tax rate, $16 60. In 1883, 318; tax rate, $2 35 on the $100. In 1884 valuation of real and per
val. $27,369,095; in ’ 84, $27,369,095; Pop., in 1884 45,000; 39,151 in sonal property, $13,499,325; tax rate, $2 35. Population in 1870,
’ 80; 28,921 in ’ 70.
40,226; in 1880, 33,592; in 1884, 62,335. (V. 39, p. 727.)
L ew isto n , M e.—Total net debt, March 1,1884, $894,196; sink fund
M ilw a u k e e , W i s .—The city cannot issue debt beyond 5 per ct. of its
$115,160. The railroad bondswere issued to build the Lewiston & Auburn
RR.. which is owned by the cities of those names. Valuation in 1883, average assessed valuation of real and personal property for five years. In
1884 valuation was $74,951,750; in 1885 real estate, $61,445,921; per
$lb,679,926: tax rate, 2*2 p. ct.; in 1884, valuation, $11,107,166; rate
sonal, $17,415,445; total, $78,861,366, Sinking funds are provided,
2lio- Population, 19,076 in 1880; 13,600 in 1870.
and all old issues except the general bonds due 1896 may be called in
L o u isv ille .—The funded debt, Jan. 1,1885, exclusive of loans paya and paid by sinking fund; holders were misled because this was not
ble by railroads, was $9,016,000, against $9,167,000 Jan. 1,1885. The stated in the bonds. Population, 71,446 in 1870; in 1885 (estimated),
sinking funds on Jan, 1,1886, amounted to $4,390,815. Population by 160,000.
Census of 1870 was 100,753, against 123,758 in 1880. The following
M in n ea p o lis, M in n .—Total debt, $3,031,000Feb. 1,1886; sinking
figures give the assessed property valuation; 1881, $68,753,770; 1882, fund, $175,000; tax valuation, 1885, $77,500,000; in 1884, $74,308,711;
$70,029,724, of which $52,269,684 was realty. In 1883 valuation bonds all coupon; tax rate 1885, 20 mills. Population, 46,887 in 1880;
$66,118,534, tax rate 2*10; in 1884, $63,927,077, tax rate 2*10; in 13,066 in 1870; 129,200 in 1885.
1885. $62,763,461, tax rate 2*48. (V. 38, p, 509.)
M o b ile.—Interest was in default from July, 1873. A settlement with
L o w e ll, M ass.—All the notes held by savings banks. Water loan bondholders was offered by act of March 9,1875. In Feb., 1879, the
sinking fund Oct. 1,1884, $415,470; other sinking funds, $227,649. Pop. Legislature repealed the charter, of the city. In Oct., 1886, bondholders
59,475 in l8 8 0 ; 46,928 in 1870; 75,000 in 1884. Assessed valuation offered to take new 25-year bonds, bearing 3 per cent for 5 years, 4 per
in 1883 were: Real estate, about $35,057,275; personal property, $14,- cent for 15 years, and 5 per cent for 5 years. In Nov., 1884, the un
895,526; taxrate, $15 20; in 1884, valuation, $36,510,201 real estate funded debt was estimated at $110,000. Valuation ol real and per
and $14,671,684 personal; tax rate, $17 50.
sonal property in 1883, $15,350,738; in 1884, $13,578,347, in 1885, $13,L
j* M a s s ,—Valuation ’83, $24,687,524; rate, $19*60; in 1884. 763,822. Population 35,000 in 1885; 31,297 in 1880; 32,034 in 1870.
A p r i l , 1886.]
CITY
11
SECURITIES.
Subscribers w ill confer a great fa v or by g iv in g im m ediate notice o l any error discovered in these Tables.
INTEREST.
T
Amount
Size or
Date of
DESCRIPTION.
due.
When
Where payable and by
)utstanding.
par
Bonds.
Rate. payable
Whom.
Value.
For explanations see notes on first page of tables.
1891 to 1910
6
A. & O.
City Treasury.
$223,000
1875
$10,000
New Bedford, Mass.—City improvement.
1900 to 1904
A. & 0.
5
do
100,000
1876
1,000
Water bonds.............................................
1886 to 1909
A. & O.
6
do
400,000
1867 to ’7b 1,000
do
1886 to 1909
A. & 0.
do
7
180,000
1872-’74
1,000
do
................................................... .—
1894
4
do
100.000
1884
5,000
.......... .......................................... .
do
1887 to 1891
4
A .'& O .
do
50,000
1,000
1881
Sever bonds.........................................................
et. 1. ’91&1901
A. & O.
City Treasury.
0
7
499,000
1,000
1871
New Haven, Oonn.—Qewerage..............................
Oct. 1,1886
A. & O.
do
6
20,000
1867
1,000
For Derby Railroad ($20,000 payable yearly)
J. & J.
do
J'uly 2 , 1887-’97
5
150,000
1877
1,000
City bonds (10-20 bonds)..................................
1895 to 1904
do
3ifl F. & A.
150,000
1885
1,000
Sewerage bds. (pay’le $15,000 y ’rly from ’95).
* 8Q 9
1
New Orleans.
J. & J.
6
2,022,000
Hew Orleans—Consolidated debt........................ 1851 t o ’69 1,000
1922 & 1923
do
J. & J.
6
2,276,000
1883
1,000
Consolidated debt, extended............................
1923
do
J. & J.
6
688,000
1883
1,000
Other debt extended...........................................
Jan., 1893
J. & J.
do
6
2,005,690
1883
Ten year certificates to fund coupons.......... .
1884 to 1923
do
Various
6
309,000
1,000
Railroad debt....................................... . .............. 1854-55
1894 < 1922
fe
do
M. & S.
7
540,600
1869
Seven per cent funding loan of 1869...............
1895 & 1922
do
J. & D.
7
352,450
1870
Seven per cent funding loan of 1870...............
1887 to 1923
do
Various
8
24,000
1857
Jefferson City (de^bt assumed)...........................
When drawn.
....
5
7,689,680
1875
Premium bonds (m exchange)..........................
1899 ta 1923
5
12,000
1869
....
Water Works........................................................
225.000
Other old bonds...................................................
1886tó‘ Ì914
City Treasury.
Various
362,350 4,5,6,613
Newton, Mass.—City bonds and notes.................. 1867 t o ’84 l.OOO&c
997,000 4 ,5 ,6 Various 3oston, Comm’nwealth Bk. J ü y l , 1905 td *14
Water loan ($600,000 6s).................................... 1875 to ’84 1,000
1886 to 1888
M. & N.
7
3,904,700
100
New York—Accumulated debt bonds, city.......... 1869-’70
1886 to 1888
M. & N.
7
3,600,000
Accumulated debt bonds, county..................... 1869-’70
100
A.ug. 15, ’94,1904
M. & N.
3
1,172,000
Armory bonds......................................................
1884
500
>
2,868,000 3,313,4,5 M. & N.
1879 to >84
s500
Assessment bonds...............................................
1
3,277,050 4,5,6 & 7 M. & N.
500
Assessment fund stock....................................... 1868 t o ’83
Aug. 1,1900
1,331.300 5, 6 & 7 M. & N.
Additional new Croton Aqueduct stock.......... . 1872 to ’77
500
3
Feb. 1,1890
0
5 &6
Q --F .
321,400
Croton water stock............................. ............. . 1847 t o ’52
100
891, ’99 & 1904
5,509,000 3 is to 6 ,7 M. & N.
Additional Croton water stock.......................... 1871 to ’ 85
500
§■
Oct. 1,1933
0
445.000 3, 313 A. & O.
500
1883 t o ’84
Oct. I, 1904
4,500.000
313 A. & O.
500
Additional Water stock...................... .
1885
ov. 1,1900-190
5,196,000 4,5, 6 & 7 M. & N.
500
Croton water main stock..........................
1871 t o ’81
Aug. 1,1907
6
20,000
§3à
100
Croton Reservoir bonds...........................
1866
q - fNov. 1,1887
6
Q.—F.
3,066 071
100
1857 t o ’59
« ,§
Central Park fund stock...........................
July 1, 1898
Q .-F .
5 &6
674,300
100
1856 to ’58
do
do
...........................
Aug. 1,1887
Q —F.
6
2.083,200
100
1857 to ’60
Central Park improvement fund stock..
©H
June 1,1895
6
1,766,600
100
do
do
1865 t o ’ 71
__
Aug. 1,1888
M. & N.
75,000
7
100
1869
City Cemetery stock................................ .
ov. 1,1889 & ’S
©O
Q
7.977.515 5 ,6 & 7 M. & N.
500
1869 to ’78
City improvement stock..*.....................
1900 & 1926
5 & 6 M. & N.
701,419
500
1876 t o ’80
do
do (cons., $687,803 red. a
Nov. 1,1896
820,000
6 g. M. & N.
500
1874
a3
City impr. stock (cons, st’k), op., exch. for reg
©
Aug. 1,1889
6 & 7 M. & N.
700,000
100
1869 to ’70
City Lunatic Asylum stock.....................
1901-1904
4,799,000 5 ,6 & 7 M. & N.
.A
500
1871 t o ’ 80
City parks improvement fund stock___
July 1,1901
6 g . J. & J.
8,885,500
500
. 1871 & ’72
ul
July 1.1901
4,252,500
6 g. J. & J.
500
1871 & ’72
do
city,
do
July 1,1901
1.000,000
6 g. J. & J.
500
1871
do
dock bonds
do
Jan. 1.1902
©^
862,000
6 g. J. & J.
1872
500
city pks. impr. fd. st’k, do.
do
Nov. 1,1928
ffl so
M. & N.
6.900,000
5g.
500
1873
red. aft. 1908, op. ex. for rg
do
Nov. 1,1896
1,564,000
6 g. M. & N.
500
city, coupon exch. for reg. . 1874-’75
do
Nov. 1,1894
2,455,000 6 & 7 M. & N.
500
. 1872 to ’74
city, (A ).....................
do
Deo. 1,1896
J. & D.
7
1,630,200
1874
500
county (A & B)........
do
§ 0
3
Deo. 1,1896
-2 5
J. & D.
7
6,324,700
1874
500
city (B & C)..............
do
«2 %
5 & 6 M. & N. 1
1,858,349
500
. 1876-’77
city ( D E A F ) .........
do
«°3
4 & 5 M. & N.
941,135
500
. 1877 to ’84
city iG K L & M)___
do
O it)
Aug., 1894
4
lM. & N.
2,800,000
500
1880
city............................
do
*03
Nov. 1 , 1910
M. & N.
3
180,000
500
1884
O«
do
STov. 1,1901-1915
3 to 7 M. & N.
500 11,053,000
. 1870 t o ’84
Dock bonds______
J? ^
Nov. 1,1905
M. & N.
25,000
3
1* P
<
500
1884
Consol, stock (Metropolitan Museum of Art .
Nov. 1,1899
r
n
6
M. & N.
521,953
100
Fire Department stock.................................... . 1869-’70
O
Æay 1,1894 & *97
6 & 7 M. & N.
296,000
100
Market stock..................................................... . 1867 to ’6£
May 1,1903
958,000 4 ,5 & 6 M. & N.
500
Museums of Art and Natural History stock. 1873 t o ’81
I I
Nov. 1,1891
499,500 3 ,4 & 5 M. & N.
500
„. 1879 to ’84
02
May 1,1886
M. & N.
389,949
7
100
©—
y
1874
Nov. 1,1905
0 %
6
M. & N.
1,500,000
100
. 1869 t o ’ 75
N. Y. Bridge bonds......................... .............
May 1,1926
ÉA»
6
M. & N.
500,000
500
1876
do do Consol, stock, redeem, after ’96.,
May 1,1926
Q .-F .
1,921,900
5
500
> 1876 t o ’80
.
So
May 1,1928
1,166,666
4 & 5 M. & N.
500
». 1880 t o ’83
do
Nov. 1,1890
■§2
M. & N.
300,000
7
500
1871
Ninth District Courthouse bonds.
Nov. 1,1891
©«w
6
M. & N.
200,000
500
. 1871 & ’72
Normal school fund stock.............
Nov. 1, 1886-’98
1,716,000 4 ,5 ,6 &7 M. & N.
100
. 1862 t o ’82
Nov. 1,1886^88
60,000
M. & N.
6
500
1870
Dee. 1,1801
S3 0
6
M. & N.
30,000
500
s
1871
Nov. X, 1891
6
M. & N.
636,000
500
. 1871 to ’7<
Public school building fund stock..........
Aug. 15,1894
M. & N.
332,000
3
1884
500
School House bonds.................................
43
Nov. 1.1886
M. & N.
25,000
6
....
. 1874 & ’7i
Sewer repair stock....................................
C
D
Nov. 1,1888
. 6
M. & N.
606,900
100
. 1869 & ’71
Street improvement bonds......................
©
1886-’90
6
M. & N.
2.510,400
100
1864
Soldiers’ bounty fund b o n d s ..................
Nov. 1 ,1893-’97
M. & N.
745,80C
7
el
100
1865
do
do
No. 3 ..........
Nov. 1,1891
M. & N.
376,60C
7
100
„
1865
Soldiers’ bounty fund red. bonds, No. 2.
Nov. 1 ,1890
M. & N.
7
3.000.00C
500
1870
Tax relief bonds, No. 2, coup. exch. for i
Nov. 1,1890
5 & 6 M. & N.
398,000
7
500
.. 1874 to ’7r
Third District Court-house bonds..........
Nov. 1,1902
475.00C
6 & 7 M. & N.
500
1872
Water stock of 1870............. ...................
1886 to 2147
Various
7
[
737,500
500
3..............
valuation $27,124,088. In 1884 valuation $27,814,561; tax rate,
$14 40. Valuation in 1885, $28,999,820; tax rate, $14 per $1,000.
Population 19,759 in 1885; 16,994 in 1880; 12,825 in 1870.
N ew Y o r k C ity .—The total debt of New York, January 1,1886, was
$125,475,240; the amount of sinking funds, $36,113,814. The follow
ing- statement shows the details of funded debt and the amount in the
city sinking fund at the dates named:
Description.
Jan. 1,1884.
Jan. 1, 1885.
Jan. 1,1886.
Total funded debt......... $130,680,571
$126,371,138
$125,475,240
Sinking fund.................. 38,134,545
34,823,735
36,113,814
Net funded debt....... $92,546,026
Revenue bonds.............
2,983,883
$92,047,403
2,358,825
$89,361,426
3,670,525
. .
. . . _
.
Total net debt.......... $95,529,909
$94^406,228
$93,031,951
The population of New York, by the United States Census, in 1870 was
1,083,000 1,206,299 in 1880. Jan. 1,1865, and since Jau., 1872,
942,292, and
the valuation, rate of taxation, and net funded debt at end of year have
been as follows;
-R a te Tax p.
Net Debt,
$1,000-,
Real
Personal
Dec. 31*
tate. City.
Estate.
Years.
Estate.
$35,973,597
14 96 $24 94
1865.......... $427,360,884 $181,423,471
95,467,154
5 20 23 81
306,949,422
1872
797,143,665
114,979,970
6 65 21 35
272,481,181
1874t.. . . 881,547,995
116,773,721
7 27 22 13
217,300,154
1875..
883,643,545
119,811,310
6 51 2149
218,626,178
1876
892,428,165
117,700,742
3 78 22 72
206,028,160
1877
895,063,933
113,'418,-403
3 56 21 94
197,532,075
1873
900,855,700
109,425,414
3 43 22 37
1879..
.. .. 918,134,330175,934,955
106,066,240
3 12 22 18
201,194,037
942,571,690
1880
102,618,301
3 60 22 60
209,212,899
1881
976,735,199
100,383,483
• 22 50—
—
198,272,532
1882
.1,035,203,816
95,529,909
22 90
197,546,495
1883
.1,079,130,669
94,406,223
22 50
218,536,746
1884
1,119,761,597
03,031,951
24 00
202.673,866
1885....¡1,168,443,137
.
N aslivllle, T e n n .—Assessed valuation of all property in 1885 wa8
$24,413,000; tax rate, 1*2 p. c. Population, 43,350 i n ’80; 25,865 in ’ 70N ew a rk .—The bonds in the first line in the table are payable out of
the sinking fund of 1864, which amounted Deo. 31,1835, to $1,392,212;
public school bonds out of public school fund, $489,762; Clinton Hill
bonds by sinking fund $190,393. The total amount in the sinking funds
on Deo; 31,1885, was $3,647,301. The Aqueduct bonds are not a direct
liability of the city of Newark. Real and personal property have been
assessed at about two-thirds of true value as follow s: 1884, real estate,
$72,456,775; personal, $18,524,775; tax rate, $2 03; 1885, real estate,
$74,189,110; personal, $18,730,160; tax rate, $1 93. Population in
1.870,105,059, against 136,508 in 1880, and 155,000 in 1885.
N ew B ed fo rd , M ass.—Population, 26,845 in 1880; 21,320 in
1870. Assessed valuations (true value), rate of tax, &c., have been:
Personal Rate of Tax Total Debt, Trust
Funds.
Years.
Real Estate.
Property, per $1,000. Bonds.
1883 ........$15,109,300 $15,180,305 $16 80
$ ........
104,100
1884
.................. 15,635,900
15,718,182
16 60
N ew H a v e n , C on n .—Municipal bond fund, $37,011. The city
made aspecialloan of $75,000 to the New Haven&Derby RR.,and guar.
$225,000 of its 2d mort. bonds. Popula. in 1870,50,840; in 1880,62,882
Assessed valuat’n (about 80 p. ot. of true value), tax rate, &o., have been:
Years. Real Estate. Personalty. Rate of Tax. Tot. D’bt. Skg.Fds.&o.
1 8 8 4..
..$36,293,114 $14,271,224 11 mills. $714,000
......
1 8 8 5..
.. 42,000,00016,000,000
11 mills. $319,000 $114,078
N ew O rlean s.—In June, 1882, a law was passed to issue new 6 per
cent 40 year bonds for all old bonds other than premiums; the extended
bonds run till 1923, but are redeemable after 1895. Certioates were
issued for overdue coupons to Jan. 1,1883, and though made for ten
years the certificates are payable at option. The assessed valuation of
property, real and personal, for 1883 wasabout $113,091,102; tax rate
$2; in 1834, $114,581,744; tax rate 2; iu 1835, $123,927,493; tax rate
$2,54. A scheme for settling the debt by a bond premium drawing plan
is in practice, and drawings take place January 31, April 15, July 31
-and October 15- On June 30, 1885, the total bonded debt was $16,140,.562, and floating debt, $1,373,624; also judgments, $453,336; coupons
n ot yet funded into certificates, $150,000; total liabilities, $18,384,010;
«Iso Gainesjudgment on appeal, $1,925,667. Unoolleoted back taxes,
$2,910,219. Population in 1870,191,418 ;lin 1880, 216,090. •
„
‘ iLessjsinkingjfuud.
Annexed towns lncluaeù.
12
CITY
SECURITIES.
LVou XLII.
Snbscrlberg w ill confer a great favor b y g iv in g im m ediate notice o f any error discovered In these Tables.
DESCRIPTION.
For explanations see notes on first page of tables.
.
Date of
Bonds.
) 1870-’74
1881
1872-’73
Size or
Amount
par
outstanding.
Value.
Rate.
INTEREST.
When
Where Payable and by
Pay’ble
Whom.
Principal—When
Due.
$100
$798,600
6
& J Norfolk, Treasurer’s Office,
1894 to 1914
350,000
5
&O
do
do
1911,1914
290,800
8
&o
do
do
Apr.. ’92, July ,’93
241,000
5
1913 & 1914
1871
100
640,000
5 & 8 M. & N New York, Park N. Bank. 1901,1914 & 1915
1877
1,000
160,000
5
A. & 0
Norwich,
April I. 1907
’68,’7S,’ 8C 1,000
300,000 5, 6 & 7 Various
do
1898,1908 & 1910
Court House..........................
1875
1,000
164,000
7
J. & J.
do
Jan. 1,1905
Sinking fund bonds...............
1878
1,000
50,000
5
A. & O
do
April 1,1908
Funding 10 30s..... ...............
1883
125,000
4
1913
Paterson. N. J.—School bonds.
1859-’73
500
58,000
7
J. & D
y Hall, by Treasurer.
1886-1904
Funded debt bonds...............
1862-’ 71
500
80,000
7
J. & D
do
do
1886 to 1900
1869-’82
500
403,500 5, 6 ,7 Various
do
do
1886-1902
War bounty bonds...............................
1864-’65
500
306,500
7
J. & D.
do
do
1886 to 1900
Funding bonds, “ A” ............................
1877
100 &c.
100,000
6
J. & D.
.
do
do
June, 1887
Renewal bonds, *‘B ” and “ C” ..........
1877-’ 84
500
168,000 4*2 < 6 Various
!b
do
do
1901-1906
Philadelphia—Consolidated city loan.
_
_
50 &c.
2,298,245
6
J. & J.
xdelphia, by Treasurer.
1886 to 1906
1855
50 &c.
1,275,400
6
& J.
do
do
do for water works.........................
1855 to ’71 50 &c.
6,500,000
6
& J.
do
do
1886 to 1903
do for bridges..................................
1859 t o ’70 50 &c.
4,853,500
6
& J.
do
do
do for park and Centennial..........
1868 to ’70 50 &c.
8,701,600
6 ,
& J.
do
do
do for war and bounty purposes,
1862 to 65 50 &c. 11,650,000
6
& J.
do
do
1886 to 1905
do municipal, school, sewer, & c..
1860 t o ’70 50 &c. 16,134,575
6
& J.
do
do
Guaranteed debt, gas loans.
_
_
50 &c.
3,756,000
6
& J.
do
do
1899 to 1905
Four per cent loan (“ A” to j ‘ Y ” )
1879
25 &c.
6,898,800
4
do
do
1886 to 1904
Peoria, Ills.—School loan...................................
__
....
81,500
7
Various N. Y ., Mercantile Nat. Bk.
1886 to 1898
War loan..................... ................................... .
....
....
42,000
4*2 M. & N.
do
do
Mar. 1 , 1902&’03
Water loan.........................................................
....
....
367,000
7
Various
do
do
18881901
do
.......................................................
....
....
83,000 5 & 6g. Various
do
do
1889- 1901
Peoria & Rock Island Railroad......................
_
_
....
100,000
7
J. & J.
New York.
July 1, 1888
Pittsburg—Water exten. loan (coup, or reg.). . 1868 t o ’74 100 &c.
4,282,500
7
A. & O. Phila., Townsend, W. & Co.
1893 to ’ 98
Water loan, reg........................ ......................'.
1878
25 &c.
300,000
6
J. & J.
do
do
1908
Funded debt and other municipal bonds___ 1845 to ’72 500 &c.
1,281,000
6 & 7 Various Pittsburg and New York.
1886 to 1912
Compromise railroad bonds (coup, and reg.)
1863
100 &C.
2,176,300
4 & 5 J. & J. New York, B’k of America.
1913
Funded debt improvement bonds, cp. & reg
1882-’83
100 &c
1,480,000
5
Pittsb’rg and Philadelphia.
1912-1913
Improv. bonds coup.or reg.(Aot of May 9,’79
1885
100 &c.
3,747,000
4
J. & " .
d
Pittsburg, Treasurer.
Dec. 1,1915
Portland, Me.—Loan to Atl. & St. Lawrence RI ’68,’69,’70 1,000
787,000
6
M. & N. Boston, Blackstone N. B ’k. Nov.,1886,’87,’88
Loan to Portland & Rochester Railroad___ 1867 t o ’69 500 &c.
627,500
6
J. & J.
do
do
July, 1887
do
do
do
___
1872
500 &c.
416,000
6
J. & J.
do
do
July 1, 1897
do Portland & Ogdensburg..................
1872
1,000
1,200,000
6
M. & S.
do
do
Sept. 1,1907
Municipal—prop er..........................................
1859 79 500 &c.
1,917,500
6
m’nthly
Boston and Portland,
1885 to ’97
Building loan bonds.........................................
1867
1,000
325,000
6
J. & D.
do
June 1,1887
1863
lOOO&c.
300,000
5
J. & J.
Providence.
Jan., 1893
Water loan bonds, gold, coupon.. . .
1872
lOOO&c.
2,028,000 5 & 6 g. J. & J. Boston, Prov. and London.
July, 1900
do
do
registered,
1874
lOOO&c.
1,972,000 5 & 6 g. J. & J. N. Y., N. City Bank, & Prov.
July, 1900
do
do
do
1876
lOOO&c.
1,500,000
J. & J.
do
do
July 1,1906
I g-- J. & J London, Morton, Rose & Co
g
1875
£100
1,397,250
5
July 1,1895
do
loan of 1879........................3
1879
lOOO&c.
600,000
4*2 J. & D
Providence,
June 1,1899
Public improvement loan, registered............. .
1879
Large.
596,000
5
lj. & J.
do
July 1 ,’99 & 1900
Prov. & Springfield RR. bonds, guaranteed...
1872
1,000
500,000
7
J. & J.
do
1892
Brook Street District certificates, cou p on _
_
1879
1,000
140,000
4^2 M. & N. Boston and Providence.
May 1.1886
New High School Building certificates.......... . 1877 & ’79 Various
4 is Various
58,938
do
do
1886
Richmond, Ya —Bonds, reg.,($118,000 are coup.;
....
....
2,846,091
6
J. & J.
Richmond, Treasurer,
J.& J., 1884-1914
Bonds, reg. and coup. ($213,500 are cou p .)...
...
....
1,214,700
8
J. & J.
do
do
1886&1904-1909
New fives............................................................
....
790,900
5
J. & J.
do
do
July 1914^’15
Rochester, N.Y.—To Genesee Valley Railroad ..
1872
1,000
140,000
7
J. & J.
N. Y., Union Trust Co.
1886 to 1903
To Roch. & State L. and R. N. & P. Railroads. 1872 t o ’74 lOOO&c.
750,000
7
F. & A. New York and Rochester,
Feb. 1,1893
For various city improvements.................
1872 t o ’75 Various
667,000
7
Various
do
do
1886 to 1902
Water works loan, coupon and registered
1873 to ’ 76 lOOO&c.
3,182,000
7
J. & J.
N. Y., Union Trust Co.
Jan. 1,1903
Funding loan....................................... ........
1875
1,000
410,000
7
J. & J .
do
do
Jan. 1,1905
Consol loan..................................................
1882
5,000
100,000
4
F. & A.
do
do
Aug. 1,1912
Rockland, Me.—Municipal bonds.................
_
_
50 &e.
546,400
4 & 5 8emi-an
City Treasury,
1886 to 1911
Railroad loan ($20,000 payable yearly).
1869
100 &c.
68,800
6
J. & J.
do
1886 to 1899
do
...............................................
1871
100 &c.
60,800
6
F & A.
do
1891
do
............................................... .
1872
100 &o.
54,800
6
M. & S.
do
1902
Notes and certificates of deposits............
....
....
153,338 f
do
On call.
St. Louis—Renewal and floating debt bonds___ 1868 t o ’71 Various
2,452,000
6
Various N. Y., Nat. Bank Republic
1886 t o ’ 91
Real estate, buildings and general purposes.. 1840 t o ’ 68 Various
673,000
6
Various
do
do
1886 to 1906
Street improvement bonds.............................. .
1857
Various
10,000
6
Various
do
do
1887
Tower Grove Park bonds (gold).....................1
3
1868
1,000
346,000
do
6 g. F. & A.
do
Aug., 1898
Sewer bonds......................................................... Various
1,000
1,108,000
Various
do
do
1887 to ’95
Harbor and wharf bonds.........................." " 3! 1856 t o ’68 Various
641,000
6 g' Various
do
do
1886 t o ’ 88
New water work bonds (gold)............................ 1867 t o ’70 1,000
3,950,000
J. & D. New York and St. Louis. June, 1887, & 90
do
do
do ............................
1872
1,000
1,250,000
A. & O. N. Y., Nat. B’k Commerce,
April 1,1892
i t M. & N.
do
do
do ............................
800.000
do
do
6 g.
July 1, 1894
Renewal and floating debt bonds (gold).........
1874
1,000
1,372,000
New York or London,
6 g. Various
1894
Renewal purposes, gold or sterling..................
1873
1,000
1,324,000
6 g. M. & N.
do
do
Nov. 1,1893
Renewal, &c., bonds, gold, $ and £ .................. 1845-75
1,000
722,000
do
do
6 g. M. & N.
1895
Renewal, &c., bonds,gold $ and £, cou pon ... 1876 to ’79 1,000
1,368,000
J. & J.
do
do
1896-1898-1899
Renewal bds.,gold,$ and £(part red’mable ’90)
1880
t g- Various
1,000
1,024,000
do
do
Jan.&June, 1900
Renewal bonds, gold........................................... 1882 to ’85
913,000
i gdo
do
1895 to 1903
Bridge approach bonds (gold).........................3
1872
500
461,000
& D. N. Y., Nat. B’k Commerce. Dec. 10,1892
6 g.
Gold bonds to pay Pac. RR. bonds, $ or £ ___
1885
1,000
620,000
& A.
4 g.
New York and London,
1905,red. 1895
Bonds, gold, £ or $ ........... ..............................
1885
1,000
965,000
4
& D.
do
do
June 1,1905
St. Louis County bonds assum edinsane Asvlum........ .......................
1867
1,000
100,000
J. & J. N .Y „ Nat. Bk. Commerce.
July 1,1887
Coupon bonds of 1881 (exempt)............
Trust and paving, coup............................
Coupon oonds. .'I.......... ............|. . . . ________
Coupon bds., water (a mort, on water works).
Norwich,, Gonn.—City bonds......................
100
not exceed 10 per cent of the assessed value of real estate, and this 10
per cent was construed by the Court of Common Pleas (General Term)
to include the bonds in the sinking fund as a part of the debt. See V. 41
p, 688. (V. 39, p. 49, 727; V. 41, p. 51, 69, 242, 688.)
N o rfo lk , V a .- -The assessed valuations and tax rate per $1,000 are:
Years.
Real Estate.
Personalty. Tax Rate.
$9,590,431
1882......................................
$1,363,403
$20
1 8 8 3 ........................................ 9,776,197
1,722,492
20
1884
................................. 10,086,898
1,494,483
20
1885
....................................11,988,560
______
1,632,995
18
—Population by U. S. Census in 1870, 19,229 ; in 1880, 21,966.
N o rw ic h , C on n .—The assessed valuations, tax rate, &c., are:
Real
Personal
Rate of
Years.
Estate.
Property.
Tax
1880
........................ $7,438,097
. $2,976,028
8 mills
1881
........................ 7,382,834
2,872|566
10 “
1882
........................ 7,362,364
2,762,931
10 “
!8 8 3 ................................... 7,392,767
2,658,058
9 “
—Sinking fund, May, 1883, $33,778; population, 21,145 in 1880 16.
653 in 1870.
P a terso n , N. J .—Finances are apparently in a sound condition
The assessed valuations, tax rate per $1,000, &c., have been:
Years.
Real Estate.
Personalty. Tax Rate.
Debt.
1882
...........$17,746,040
$3,768,240
2-30
$1,251,500
1883
.......... 18,506,048
3,856,635
2-28
1.217.500
1884
.......... 18,521,342
3,876,075
2-50
1.168.500
1885
....
19,205,501
3,816,500
2-50
1.168.500
-.Pfvrv^iytjon. 51.031 in 1880; 33,579 in 1870.
P h ila d e lp h ia .—On Dec. 31,1885, the debt was $62,068,120. In the
iollowing table the assessed value of real estate is near its cash value:
, Years.
Real Estate.
Personalty. Tax Räte
........................................ [$545,608,579
$8,166,650
*19 00
........................................ 562,687,555
8,795,700
18 50
1884
.............................. 573,728,106
9,884,578
18 50
1885
.............................. 587,749,828
10,035,600
18 50
1886
.............................. 601,001,971
10,307,644
18 50
valuations ° f ProPerty for 1886 are: Full city nroperty,
$544,289,660; suburban property, $38,006,137; farm property, $18.706,174; personal property, $10,307,644. Tax rate, $18 50. Popula
tion, 1870, 674,022, against 847,170 in 1880.
„ P eoria, IH .—Total debt, $673,500 in 1884. Population, 29,259 in
1880; 22,849 in 1870; in 1883 (estimated), 40,000.
P ittsb u rg.—The assessed valuation in 1884 was: Real property,
$105,404,720; personal, only $1,838,258; tax rate, 1884, 16 mills per
$1. Valuation of real estate in 1885, $108,530,608; personal, $3,000 000; tax rate, 13 mills. Total valuation in 1886 about $130.000,000’;
tax rate 14 mills. Population, 156,389 in 1880; 86,076 in 1870. and in
May, 1884 ('estimated), 180,000. (V. 42, p. 23.)
P o rtla n d . M e .—The sinking fund and available assets March 31,
1885, were $106,409. The city is protected by mortgages on Atlantic
& St. Lawrence Railroad. Population in 1879, 35,010, against 31,413
in 1870, and 26,341 in 1860. Population in 1880, 33,810; 1870, 31 4131885 (est.), $36,000. The assessed valuations, tax rate, &c., have been:’
Rehl
Personal Rate of Tax Total
Sinking
Years.
Estate.
Property, per $1,000.
Debt. Funds, &c.*
188283 .. $20,288,300$12,354,455 $2150 $4,545,500 $51,869
18838 4 .. 20,431,30012,598,720 20 00
4,371,000 133,846
1884- 8 5 .. 20,794,300
12,014,435
20 50
4,286,000 106,408
* These do not include the sinking funds for railroad loans.
P rovidence, R . I . —The principal debt of Providence has been cre
ated since ’72 for waterworks, sewerage, the City Hall and Brook Street
Improvement. The sinking fund for bonds due m 1893 is $312.9221895-99, $631,243; 1899-1900, $117,716; 1900-6, $371,434; Brook
Street district, $5,012. Population, 1870, 68,904; 1885,118,070. The
laws of Rhode Island now limit the debts of towns to 3 ner ct. of their
assessed valuation.
Assessed valuations, &c., have been:
Real
.Personal
Tax per
Total Assets in Sink.
Years.
Estate.
Property.
$1,000.
Debt.
Funds &e
18 8 0..
., $88,012,100 $27,908,900 $13 50 $10,202,688 $1,359,142
1001. . .. oY,7oo,uOU
A
A 00
-1,397,558
28,413,800
14AA “10,100,599
1 8 8 2.... 88,987,900
30,208,300
14 50 10,077,099
1,597,280
A p r il , 1886.]
13
CITY SECURITIES,
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered In these T ables.
INTEREST.
Principal—When
Date of
Size or Amount
DESCRIPTION.
When
Due.
Bonds.
par
outstanding. Rate.
Where Payable, and by
Pay’ble
Whom.
Value.
For explanations see notes on first page of tables,
St. Louis, I/O.—(Continued)—
$1,000
1868
St. Louis County bonds—County Jail...............
1872
1.000
General purposes, gold....................................
1875
1,000
.....................
Park bonds, coupon, gold—
1875
1,000
County bonds....................................................
St. Joseph, Jib.—Funding bonds...........................
1883
Funding bonds....................................................
1871
500
Bridge bonds (incl, $32,382 unpaid coups,)...
1882-85
1,000
St. Paul, Minn.—Bonds.........................................
Bonds.................................................................... 1867 to ’85 1.000
do ..................................................................... 1868 to ’81 500&c.
do .........................r......................................... 1862 t o ’79 Various
do ....................................... ............ - .............. 1860 to ’79 Various
1886
1,000
City Hall, Park and Fire Department— . . . . .
Waterworks coups, (acts Feb.,’81& Jan., ’83). 1882-4-5 l.OOO&c
Various. 100 &c.
Salem. Mass.—City debt...............................
1871
1,000
City debt.....................................................
North River Sewer bonds..................—
1868-9
100 &c.
Water loan.................................v...............
1878
1,000
do
....................... ..........................
500 &o.
1858
San Francisco— Bonds of 1858, coupon (gold)..
1864
500 &c.
Central Pacific Railroad, coupon (gold)
500 &c.
1865
do
do
Western Pacific Railroad,
500 &c.
1867
do
do
Judgment bonds,
1870
500 &c.
School bonds.................................................
1874
500 &o.
School bonds.................................................
1872 t o ’75 500 &c.
Park improvement bonds.................. . —
1871 t o ’73 500 &c.
Hospital bonds....... ....................................
1874
500 &c.
House of Correction bonds........................
1875 t o ’76 500 &c.
City Hall construction...............................
1873-74
Montgomery Ave (special tax)..................
1876
Dupont St. (special) (Act March 4,1876)
100 &c.
1879
Savannah,, 0a.—New compromise bonds...
Various.
Somerville, Mass.—City debt.........................
Large.
Water loan................ ..................................
Large.
Springfield, Mass.—City notes.....................
1,000
City bonds....................................................
1,000
Water loan ($200,000 are 6 per cents) . . .
1,000
Railroad loan...............................................
Various.
Toledo, O.—General fund city bonds, coup.
1870
Toledo & Woodville Railroad, coupon—
’73,’74&79
Water works ($3,000 only 6s)...................
Short bonds, chargeable on special assessm’ts, Various.
1883
Bonds, payable after 1893.
1861 to ’83 500 <feo.
Worcester, M.—City, ($521,50(
(1870 t o ’85 500 &c.
Sewer debt (all registered).
1870 t o ’85 500 &c.
Water debt, reg...................
$500,000
600,000
1,900,000
500,000
880,900
902,000
251,382
71,000
906,002
433,000
399,551
307,315
175,000
1,500,000
164,500
300.000
102,000
375,000
398,500
136,500
191,000
116,000
246,000
285,000
200,000
475,000
210,000
150,000
445,500
1,579,000
919,000
3,397,500
1,250,000
335,000
64,000
93,000
1,200,000
160,000
1,236,151
432,000
1,000,000
150,000
360,000
2,043,400
640,000
706,300
7
6 g.
6 g.
6 g.
4
6
10
4
5
6
7
8
4*2
4 &5
4, 5 & 6
6
4
6
5
6 g.
7 g.
7 g.
7 g.
7 g.
6 g.
6 g6 g.
7 g.
6 g.
M.
J.
A.
M.
& S.
& D.
& O.
& N.
....
F. & A.
J. & J.
Various
Various
Various
Various
Various
N. Y., Nat. B’k Commeroe.
Sept. 1,1888
do
do
June, 1892
do
do
April 1,1905
do
do
May 1, 1895
N. Y., Amer. Exch. Nat. Bk.
Aug. 1,1901
N. Y., Nat. Bk. Commerce.
1903
do
do
1891
N. Y. Am. Exch’ge Nat. Bk.
1907 to 1913
do
do
1887 to 1915
do
do
1888 to 1906
do
do
1886 to 1903
do
do
1893 to 1904
do
do
1916
Various
do
do
1912 to 1915
Various
City Treasury.
1886 to 1892
J. & J. Boston, Merchants’ Bank.
Jan. 1, 1891
T. & J.
1887 to 1903
do
do
A. & O.
do
do
Api. 1,1886-189
J. & J.
July 1,1904
do
do
J. & J. San F.& N.Y„ Laidlaw & Co.
Jan. 1, 1888
J. & J.
July 1, 1894
do
do
M. & N.
M a y l, 1895
do
do
A. & O.
do
do
Oot. 1, 1887
J. & D.
do
do
June1,1890
J & J.
July 1, 1894
de
do
J. & J.
do
do
1897 & 1904
M. & N.
do
do :
Nov. 1, 1891
,T & J.
.
do
do
July 1,1894
....
do
do
1899
1896
7 g. J. & J. San.F.& N.Y.,Laidlaw& Co.
Q -F . N. Y., Eugene Kelly & Co.
5
Feb. 1, 1909
Various Boston, Nat. Security Bank
4,
1882 to 1896
do
do
4, S'a, 6 Various
1880 to 1906
Various
4i«
Salem.
,
1886 to 1889
Various Boston, First National B’k.
6
1886-1890
do
do
6 & 7 A. & O.
Api. 1 ,’94, to 1905
A. & O.
do
do
1886 to 1893
7
41« to 8 Various N. Y., Imp. & Trad. N. Bk.
1886 to 1913
M. & N.
do
do
73
May, 1900
6 &8
Various
do
do
1893 to 18991
Various
do
do
1886 to 1888
7&8
A. & O
do
do
Oot., 1913
5
4, 5 & 6 Various C.Treas.&Bost. Mchts.’ Bk.
1887 to 1905
4, 41«, 5 Various
do
do
1899 to 1905
do
do
313,4,5 ,t Various
1886 to 1915
Personal Rate of Tax
Total
Total AssetsinSink.
Real
Personal
Tax per
Real Estate. Property, per $1,000.
Debt.
Debt.
Funds, &c. Years.
Years.
Estate.
Property.
$1,000.
19.941.188 $1,681,400 1884..... ................... $47,000,000 $14,263,565
$16
$3,027,140
1 8 8 3 ..
.. $90,143,400
$31,722,000
$14 50
19 50
3,815,640
9,890,688
1,843,785 1885 ......................... 50,512,212 14,291,946
1 8 8 4 ..
..
91,642,100
30,854,400 14 50
Valuation of real estate is about one-half of true value.
9.568.188
1 8 8 5..
..
92,887,400
31,314,600 14 50 1,438,328 —
Salem , M a ss.—’The sinking funds Nov. 30, ’85, were $350,107, mostly
R ich m o n d * V a .—Real estate assessed, 1882, $28,946,828; personal,
$12,689,534. Tax rate, $1 40. 1883, real, $29,240,022; personal, consisting of City of Salem bonds. Population, 27.563 in 1880; 24.117
$12,628,267. In 1884. real estate valuation, $29,388,622; personal, in 1870. Tax valuation, 1882, $25,528,242; tax rate, $15 50 In 1883
$12,952,542; tax rate, $1 40. Population, 63,600 in 1880; 51,038 in ’ 70. valuation, $25,614,115; tax rate, $16. In 1884 valuation, $25,360,772;
R o c h e s t e r .—Total funded debt, $5,249,000 March, 1885. The bonds rate of tax, $17 50. In 1885 valuation $25,066,130; tax rate, $16 50.
of Genesee Valley RR. loan, $148,000, are provided for by net receipts
San F ran cisco.—Population. 233,959 in 1880; 149,473, in 1870. The
from a lease of said road to Erie Railway. Population, 89,366 in 1880; Montgomery Avenue and Dupont Street bonds are special issues charge
62,386 in 1870; in 1882, estimated, 105,000. Assessed valuation (60 able only on the assessment of property benefitted, and suits were in
per ct. of true value), rate of tax, &c., have been:
progress October, ls8 4 , to determine their legal status. The assessments
for four years and tax rate (per $100) are given below. The following
Tax per $1,000
Total
Personal
Real
valuations are made by the city and county, the valuations by the State
in old Wards.
Property.
Debt.
Estate.
Years.
$1,430,144
$23-86
$5,440,686 being different, but the tax rate below includes that for State purposes:
1880 ... .. $34.408,725
Total
5,415,186
1,291,320
24-67
1 8 8 1 ... . 34,596,225
28-61
5,382,950
Realtv.
Personalty.
Tax Rate.
1,202,395
1 8 8 2 ... . 34,849,975
27-65
5,354,000 188182 ............... $155,834,879
$66,598,521
$1 80^
1,817,200
1 8 8 3 ... . 36,166,200
3222
5,284,000 18821,778,100
8 3 .............. 151,894,908
50,267,099
1 80*4
1 8 8 4 ... . 37,270,850
5,399,000 18838 4 .............. 158,723,269
62,272,534
1 69%
2,389,050
30-98
1 8 8 5 ... . 38,563,020
18848 5 . . . . . ...... 164,495,888
59,013,672
1 571«
R o c k la n d . M e .—Valuat’n of real and personal estate, 1885, about
171,416,426
56,192,922
1 59*«
$3,900,000; tax rate, $26 per $1,000; 1884 valuations, $3,755,831; tax 1885- 8 6 ............
Sinking funds raised annually amount to over $238,000, the amount
rate, $24 per $1,000. Population, 7,599 in 1881; 7,074 in 1870.
on hand June 30,1885, being $812,108.
St. J ose p h , M o .—Population in 1880, 32.431; in 1870, 19,565. A
compromise of the debt was made in new 4 per cent bonds, which are
sa v a n n a h . 6 a , - Default was made on interest Nov. 1,1876, inconse
iven for the full principal and interest of old bonds. Aug. 31, 1885, quence of yellow fever and non-collection of taxes. The compromise
here were in addition to bonds given above $40,074 small issues and gave new 5 per cent bonds for the face of old bonds; and for interest up
to Feb. 1,1879, 58 per cent of the face value in similar bonds; also,
unpaid coupons.
The assessed valuations and tax rate for three years were as below. there are $386,500 of fives issued in exchange for Atlantic & Gulf
RR. bonds. Assessed value of real estate ana tax rate each year
In 1885 valuations were the same as in 1884, no new valuations-being
have been as follow s: In 1881, $10,500,000, $25; 1882, $10,650,000,
made.
Real estate.
Personal.
Tax rate. $30; 1883, $10,900,000, $30; in 1884, $12,500,000, $30; in 1885,
$13.000,000, $21 25.
Population in 1870, 28,235, against 30,709
1883........................................... $7,586,650
$3,678,193
-O2310
in 1880.
7,873,150
3,700,222
-O22I0
1884..............
Som erville, M a ss.—Total debt, Jan. 1, 1884, $1,585,000; sinking
1885......................................... 7,873.150
3,700,222
*G155100
St. Ijo u ls.—Population by the United States census in 1870 was fund, $505,852. Property valuation in 1882, $23,162,200; in 1883,
Except
310,864, against 350,518 in 1880. The city and county were merged $23,812,900; in 1884, $24,331,100. Tax rate, $16 60.
by law in 1877 and city assumed the county bonds. The Comptroller $140,000 5s in $1,000 pieces and $399,000 4s, all bonds are in $2,000
to $50,000 pieces. Population 24,933 in 1880; 14,685 in 1870.
gives the following in his report to April, 1882: The liabilities appear as
follow s: The bonded debt at the close of fiscal year (April 10,1882) is
Springfield, M a s s .—Total funded debt, Jan., 1886, $1,517,000;
$22,417,000. A claim of the St. Louis Gaslight Company for gas fur cash assets, $108,650. The railroad debt falls due $20,000 each year.
nished. amounting in all to about $882,000, with interest to March 31, Population in 1885, 38,000; 1870, 26,703. Tax valuation and rates
1882, was decided against the city in 1880, but appealed. Assessed valu have been:
ation of property and tax rate have been:
Personal
Tax rate
Years.
Real Estate.
property.
per $1,000.
Real Estate .—
Rate of tax per $1,000.—
'
............
$23,795,920
$8,935,850
12 50
and Personal
New
Old
Bonded 1 8 8 1
1882 .....................
25,084,420
9,198,258
12 50
Years.
Property.
Limits.
Limits.
Debt.
.................
25,676,800
9,260,459
12 50
1879 ........................ $165,263,970
$5 00
$17 50
$22,614,000 1883
.................
26,201,150
8,792,666
14 00
1 8 8 0 ....................... 160,750,440
5 00
17 50
22,507,000 1884
.................
26,969,800
8,827,966
1280
1881 ....................... 167,336,600
5 00
17 50
22,417,000 1885
1882 ....................... 191,720,500
5 00
17 50
22,311,000 —Valuation of real estate is about 67 per cent of true value.
1883 ....................... 191,522,490
5 00
17 50
.....
1 8 8 4 ........................ 211,480,710
5 00
17 50
..... T o le d o .—Total debt, Jan.,'1886, was $3,238,137. Of this the debt
1885 ....................... 207,717,920
5 00
17 50
............ payable by special assessments was $166,151 Taxable valuation of
real estate, 1886, $21,773,240; personal, $8,157,060; total valuation»
—(V. 40, p. 764.)
$29,930,300; tax rate, $2'80 per $100. Valuation, 1884, real estate,
S t. P a u l, M in n .—Population in 1870 was 22,300; in 1880, 41,498; $21,375,280; personal, $8,646,190; total valuation, $30,021,470; tax
in 1884 the local estimate of population is 100,000. Assessed valuations rate, $2 22. Population, 50,137 in 1880; 31,584 in 1870.
of taxable property and tax rate have been:
W orcester» M a ss.—Total funded debt, Jan. 1,1886, $3,389,700;
Personal Rate of Tax
Total
Cash assets Dec. 1,1885, $994,785, including $721,563 in sinking fund
Years.
Real Estate.
Property,per $1,000.
Debt.
Population, 68,383 in 1885, 58,291 in 1880,41,105 in 1870. Taxvalu,
1878 ..........................$17,300,486 $5,491,026
$13 «
$1,356,444
1879 ......................... 17,300,766
5,942,503
15 “
l,519,31o ationin 1882, $45.504,512; tax rate, 1-74. In 1883, $48,570,3351882 ........................ 30,000,000 10,000,000
21 “
l,959,91n tax rate, 1-72. In 1884, $50,773,475; tax rate, 1 -66. In 1885, $52,714,;
1883 ......................... 31,000,000 12,000,000
910; tax rate, 1*80,
24-50“
2,328,04
f
14
RAILROAD STOCKS AND BONDS
[Y ol . X L II.
Subscribers w ill confer a great favor by g iv in g im m ediate notice oi a n y error discovered in these Tables.
DESCRIPTION.
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due
Amount
For explanation of column headings, &o., see notes of
Par
of
Outstanding Rate per When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Ala. N. O. Texas< Pacific June.—1st debentures... 233 1882
6
£100 $7,500,000
6
A. & O.
London.
April 1, 1907
2d debentures... ............................ .........................
£100
1884
2,500,000
6
J. & D.
do
June 1,1907
Ala. Gt. South’n.—1st mortgage, coupon.................... 296 1878 $1,000
1,679,000
6 g. T. & J. N.Y.,Farmers’ L. &T. Co Jan. 1, 1908
Albany < Susquehanna—Stock .............................
&
100
209 . . . .
3,500,000
3*2 J. & J. N. Y .,B ’k of Commerce. Jan. 1, 1886
1st mortgage............................................... .............. 142 1863
1,000
998,000
7
J. & J. N.Y.,Del. &Hud.Can.Co
July, 1888
1,000
Albany City loan (sinhingfund, 1 per ct. yearly). 142 1865
1,000,000
6
M. & N.
do
do
Nev., 1895-197
1,000
Consol, mort. (guar. D. & H. endorsed on bonds).. 142 1876
8,000,000
6 & 7 A. & 0.
do
do
April 1. l£ o è
Allegheny Valley—
Stock............................................... 259
50
2,166,500
1,000
General mortgage (Riv. Div.).................................. 132 1866
4,000,000
7-30 J. & J. N. Y., Winslow, L. &Co. March 1,1896
Bonds to State Pa. (endorsed) 2d mort.. East ext. 110 1870 100,000
2,600,000
5
Jan’ary Harrisburg, Treasury. 100,000 y ’rly.
1,000 10,000,000
1st mort., East’n Extern, guar, by Pa. R R ............ 110 1871
7
A. & < Philadelphia or London April 1, 1910
5.
259 1874 100 &c.
Funding income bonds, 'with traffic guarantee.
9,704,300
7
A. & O. Pittsburg, Co.’s Office.
Oct. 1. 1894
1,000
Amador Branch—1st mortgage...................-.............'
27 1877
675,000
6
J. & J. N. Y., Cent. Pacific RR. Jan. 1, 1907
..
Asheville < Spartanburg—1st mortgage....................
£
500.000
New mortgage for $500,000.....................................
1885
1,000
Ashtabula < Pittsburg— mortgage, coup, or reg..
6
1st
62 1878
1,500,000
6
F. & A. Phil., Fid. I.T. & S.D.Co. Aug. 1, 1908
1,000
Atchison Ool. dt Pacific—1st mort., guar.................. 254 1879
4,070,000
6
Q.—F. N.Y., Un. Pac.RR.Offlce May 1, 1905
1,000
Atchison Jewell Oo. < West.—1st M., guar. C.B.U. P.
&
34 1879
542,000
6
Q .-F . N.Y.,Un.Pac. RR. office. May 1, 1905
100 56,913,250
Atchison Topeka < Santa Fe—S tock .......................... 1,868
&
....
1*2
Q .-F .
Boston, at Office.
May 15, 1386
le t mortgage, gold, ($15,000 p. m .)......................
470 1869 500 &c.
7,041,000
J. & J. Boston, North Nat. Bk. July 1, 1899
7 g.
Land grant mortgage, gold. ($7,500 p. m.) . . . ___ .... 1870 500 &c.
2,446,500
7 g. A. & 0.
do
do
Oct. 1, 190C
....
Consol, bonds, gold, ($7,500 p. m .) ........................
108,500
7 g. A. & O.
do
do
April 1, 1903
1,000
Bonds, gold (secured by mort. bonds) $1,185,000. . . . . Ì880
1,038,000
April 1, 1909
5 g- A. & O. Boston, Co.’s Office.
1,000
8. F. bonds for purchase of K. C. L. & S. K. stock. . . . . 1880
3,555,000
5
M. & S. Boston, Boston Nat.B’k. Sept. 1, 1920
1,000
1880
Sinking fund bonds (secured by mort. bds.)..........
4,764,000
4*2 A. & O. Bost. Safe Dep. & Tr. Co. Oct. 1, 1920
1,000 12,013,000
Sink, fund bds. (secured by deposit of mort. bds.)
1881
6
J. & D. Boston, Co.’s Office.
Dec. 1, 1911
1,000
Wiohita < Southwest., 1st M .,gold)
fc
27 1872
412,000
7 g. J. & J. Boston, North Nat. Bk. July 1, 1902
Kans. City Top. & W. 1st M., gold
1,000
66 1875
854,000
7 g. J. & J. Boston, Everett N. Bk. July 1, 1905
do
do
income bds. |
1878
200,000
7
M. & S.
do
do
Mar. 1, 1906
Pueblo & Ark. Valley, 1st M.,gold ¡-Guar.rental.
1,000
148 1875
1,633,000
7 g. J. & J. Bost., N. Bk. of N. Am’a July 1, 1905
Pueb. & A. V., 1st (& 2d onl48 m. |
1,000
134 1878
1,942,000
do
do
7 g. J. & J.
July 1, 1905
Kan. City Emporia & S.,lst mort.
1,000
64 1879
532,000
7
J. & J. Boston, North Nat. Bk. July 1, 1909
1,000
Cow. Sum.& Ft. Smith, 1st mort.. J
92 1879
798,000
7
A. & O.
do
do
Oct. 1, 1909
A la b a m a N. O. T ex a s Ac Pacific J u n ctio n ( L im it e d ).—(-See
Map Oi/nn. N. O. < T. P.)—This is an English Co. controlling the Vicksburg
&
& Meridian, 142 miles; Vicksburg Shreveport & Pacific, 189 miles; N. O.
& North Eastern, 196 miles; and Spanish Fort R’y, near New Orleans, 13
miles. It also controls the Cincinnati New Orleans & Texas Pacific
Railway Co. (lessee of the Cincinnati Southern Railway). The manage
ment of the company is the same as that of the Alabama Great
Southern RR. Length of roads, 863 miles; add Ala. Gt. Southern RR., 295
miles; entire system, 1,158 miles. The preferred or “ A” shares are
£1,500,000, having a preference for 6 per cent dividends and cumu
lative, and the deferred or “ B” shares £2,500,060; par value of all
shares, £10 each. The first debentures are redeemable any time at 115,
on six months’ notice. The company holds the following securities, viz.:
Cin. N. O. & Texas Pac. $1,532,000 stock; Vicksburg & Meridian,
$245,000 1st mortgage, $105,000 2d mortgage, $416,500 3d mortgage,
$1,464,300 preferred stock and $363,000 common stock; of Vicksb.
Shrevep. & Pac. $3,692,000 1st mort., $1,931,000 incomes and $1,594,000 stock; of N. O. & North Eastern $4,900,000 1st mort. and $4,320,000 stock; N. O. Spanish Fort&L. RR. $300,000 1st mort. and $200,000
common stock. To obtain funds for further improvements it was
voted in Oct., 1885, that 6 per cent prior lien bonds ahead of the first
mortgages should be issued on the N. O. & Northeastern, Vicksburg &
Meridian and the Vicksb. Shreveport & Pac. roads at $7,000 per mile,
amounting to $2,695,000 in all. It was voted to issue £200,000 of Al.
N. O. T. & P. J. 2d debenture bonds of same lien as the others. (V. 41,
p. 391, 419; V. 42, p. 21.)
A la b a m a Great Southern.—(See Map Ginn. N. O. & T. P.)—From
Wauhatchie, Tenn., to Meridian, Miss., 290 miles; leased, Wauhatchie
to Chattanooga, 6 milee; total operated. 296 miles. The Alabama &
Chattanooga R r . made default Jan. 1,1871, and road was sold under fore
closure Jan. 22,1877. Present company organized Nov. 30,1877, and is
controlled by an English company of the same title. The lands were
conveyed in full settlement to the holders of the $2,000,000 of Alabama
State bonds. These lands (about 550,000 acres) are held by trustees.
(V. 30, p. 317.1 Capital stock—common, $7,830,000, and preferred 6
per cent, $2,987,650. Gross earnings in 1883, $1,058,763; net, $306,083.
Gross in 1884, $1,165,102; net, $143,665. (V. 41, p. 355.)
A lb a n y Ac Susquehanna.—Road owned from Albany, N. Y., to
Binghamton, N.Y., 142 miles: branches operatedDuanesburg Junction,
N. Y., to Schenectady, 14 miles; Cobleskill, N. Y., to Cherry Valley, 21
miles; operates Lackawanna & Susquehanna RR., 22 miles; East Glenville to Coons, 10 m iles; total operated, 209 miles, Leased in perpetuity
from Feb.. 1870. to Delaware & Hudson Canal Co.; rental, 7 per cent
on stock and interest on bonds. Additions and betterments charged to
lessors, and cost made part of investment. The Pennsylvania coal fields,
by the joint use of the Jefferson RR., give a large coal traffic to the road
and to the other Del. & Hud. leased roads north from Albany to the Can
ada line. The consol, mort. is for $10,000,000, of which $3,000,000 are 7
per cents. Gross earnings in 1884-85, $2,285,698; net, $615,087; deficit
to lessee after all payments, $336,322. (V. 40, p. 28; V. 41, p. 162,558.)
A llegh en y V a lle y .—Owns from Pittsburg, to Oil City, Pa., 132
miles; branches—Red Bank, Pa., to Driftwood, 110 m iles; others, 17
miles; total operated, 259 miles. The company became embarrassed
in 1874 and compromised with its creditors. It still falls short
of earning interest liabilities. The amount of income bonds authorized
is $10,000,000; these receive all revenue left after interest on prior
uens, and any deficiency is made up by additional issues. Of the income
bonds the Pennsylvania RR., Northern Central and Philadelphia & Erie
bold $6,08 7,000, the interest on which was paid altogether in bond scrip;
the bonds held by individuals were paid in cash and scrip convertible
into income bonds. In 1885 the charges for mortgage interest and car
trust payments were $1,124,653, income bonds n il; deficit in net earn
ings, $453,519. In May, 1884, receivers were appointed at the instance
of the Penn, and other railroads as plaintiffs.
Earnings for three years were as follows: 1883, gross, $2,255,942; net,
$886,772; 1884, gross, $2,113,883; net, $812,478; 1885, gross,
$1,780,133; net, $671,134.
’ ■
6
’
A m a d o r B ra n c h .—Galt, Cal., to lone, Cal., 27 miles. Leased till
Nov. 1,1890, to Cent. Pacific; rental $3,500 per month. Stock, $675,000. Leland Stanford, President, San Francisco.
A sh eville Ac Spartanburg.—From Spartanburg, S. C., to Ashe
ville, N. C., 67 miles, of which 49 miles, to Hendersonville, in operation.
Formerly Spartanburg & Asheville; sold in foreclosure April, 1881, and
reorganized. Stock $1,050,000. In 1883 the mortgage for $500,000
was made to bund the 18 miles to Asheville; in 1885 anew mortgage
for $500,000 was authorized. Controlled by Richm’d & Danville. Gross
earnings in 1882-3 $39,460: deficit, $777. Gross earnings in 1883-4.
$34,018; deficit, $3,036. (V. 40, p. 303; V. 41, p. 75.)
A sh ta b u la Ac P ittsb u rg .—Owns from Youngstown, O., to Ashta
bula Harbor, O., 62-6 miles. Organized as Ashtabula Youngstown &
Pittsburg in 1870. Defaulied and property sold August 21. 1878.
Existing company organized Sept. 25,1878, and it is leased by Penn.
Co., which pays net earnings to A. & P. The common stock is
$958,591 and preferred $700,000; par of shares, $50. Gross earnings
in 1885, $338,950 ; net, $95,285 ; interest, $90,000. Gross earnings
in 1884, $387,187; net, $93,693; interest, $90,000. (V. 42, p. 462.)
A tch iso n C olorado Ac P acific.—Waterville, Kan., to Washington,
Eun., 20 miles; Greenleaf, Kan., to Logan, Kan., 155 miles; Logan to
Lenora, Kan., 25 miles; Downs, Kan., to Ball City, Kan., 24 miles; Yuma,
Kan., to Warwick, 31 m iles; total, 254 miles. The road forms an exten
sion of the Union Pacific Central Branch, by which the bonds are guaran
teed and the road is controlled, and the whole system is virtually owned
by Union Pacific, but operated by Mo. Pac. Stock, $1,526,000, of which
U. P. and C. P. own $920,500. Rental, is $254,370 per annum.
A tch iso n J e w e ll Co. Ac W e s t.—Jamestown, Kan., to Burr Oak,
Kan., 34 miles. Under same auspices and control as Atchison Colorado
& Pacific. Stock, $202,800, of which Union Pacific owns $105,000. Ren
tal is $33,875 per annum.
A tch iso n T o p ek a Ac Santa F e .—(See Map.)—L ine of R oad .—
Main Line—Atchison to Kans. State line, 471 miles. Owned by owner
ship of stock, the Southern Kansas, 529 miles. Leased—Various branch
roads in So. Kansas 423 miles; Kan. State L. to S. Pueblo, Col., 149
miles; Pueblo to Rockvale, Col., 37 miles; La Junta to N. Mex. State
Line, 96 miles; Colorado St. L. to San Marcial, N. M., 354 miles; Lamy
to Santa Fe, 18 m iles; San Marcial to Deining, N. M.. 128 miles; Rincon
to Texas line, 58 miles; coal and mineral roads, 60 miles; Las Vegas Hot
Springs road, 6 miles; Texas line to El Paso, 20 miles; and Doming to
Silver City, N. M., 48 miles; total leased, 1,398 miles. Total operated
directly, 2,375 miles. The road owned jointly with the Union Pac., 103.
miles, and that owned jointly with St. L. & S. F., 45 miles, and the
Sonora system, 350 miles, controlled—are not embraced in the miles
operated. The total mileage controlled is 2.821 miles. In Nov., 1885, the
road of California Southern was opened from San Diego, making a
through route to the Pacific coast via the Atlantic & Pacific RR.
Organization, Leases, &c.—The A. T. & S. Fe. Co. was incorporated
March 3,1863, and includes the Atchison & Topeka RR., incorporated
Feb. 11,1859. The land grant was received by Act of Kansas Feb. 9,
1864. The main line of 471 miles was opened Dec. 23, 1872. The
whole system outside of the main line is nominally under different cor
porations, of which the ownership is vested in the A. T. &S. F., and the
roads also leased to that Co. and interest on the bonds usually paid as
rental. The Southern Kansas and the Sonora systems are not leased,
but are controlled by ownership of the stock. The A. T. & S. Fe
Co. has issued its own stook and bonds to purchase the stocks and bonds
of leased and auxiliary companies, and the balance sheet shows
$51,270,225 so invested; besides $3,327,917 bonds owned, against which
Atchison Topeka & Santa Fe securities have not been issued. The fiscal
year ends Dec. 31. The election of directors is held in April.
An agreement was made in Feb., 1880, with the St. L. & San Fran, for
the joint construction of aline to the Pacific, under name of Atlantic &
Pacific, and in Aug., 1884, an agreement was made for the control of the
Mojave Division of the Southern Pacific and a right for traffic over the
Soutnern Pacific to San Francisco, and further agreements with the St.
Louis and San Francisco. See V. 40, p. 478, and also A tlantic* Pacific
and St. Louis & San Francisco in this Supplement.
In April, 1886, the company issued the bonds of the Southern Kansas
road to build 350 miles and connect with ihe Gulf Colorado & Santa Fe,
circular in V. 42, p. 462 ; and it was then stated that the two companies
would be consolidated by the exchange of G. C. & S. F. stock for Atchi
son stock, share for share—$8,000,000 in all, of which $4,400,000 was
exchanged immediately and $3,600,000 to be exchanged within twelve
months.
Stock and B onds—The stook has been increased rapidly to present
figures for the acquisition of the auxiliary lines and by way of stook
dividends. Dividends have been—in 1879, 3 per cent; in 1880, 8*3; in
1881, 6 cash and 50 stock; in 1882, 6; in 1883, 6; in 1884, 6; in
18«5, 6. The range in prices of stock in Boston was—in 1881, 92®
154*45 in 1882. 7878®96* ; in 1883, 78®86*4; in 1884, 59*2®80; in
s
1885, 63*4®89*2; in 1886, to April 16, 8658®9578.
The land grant bonds receive the proceeds of land sales in payment of
interest and principal. The 4*2 per cents of Oct., 1920, have the 6 per
cent mortgage bonds of the Rio Gr. Mex. & Pac. and the Rio Gr. & El Paso
roads as security, the sinking fund being 1*2 per cent per annum rising
to 3*2 percent by 1910. The 6 per cent bonds, due Dec. 1, 1911, haveas
security 1st or 2d mort. bonds of a number of the proprietary or con
trolled railroads, deposited in trust as collateral; they are redeemable at
105 by the sinking fund, which is 1 per cent per annum for 10 years and
2 per cent thereafter. The 5 per cent bonds, due April l, 1909, are
secured by the N. Mex. & So. Pac. 1st mort. 7s. On other bonds the
interest is paid as rental. Such bonds as are held in the company’s treas
ury, or leased line bonds held as collateral for any of its own bonds given
above, are not included in the above amounts outstanding. Interest on.
the Sonora RR. in Mex (262 miles) 1st M. bonds is guaranteed; those
bonds are at $20,000 per mile, of which $5,000 per mile are owned by
the A. T. & S. F. Co. The Leav. Top. & So. RR. bonds at 4 per cent are
guaranteed one-half by the A. T. & S. F. and one-half by the Union Pacific.
The Chicago Kansas & Western stock ($10,000 per mile) is held by the
A. T. & S. Fe, and the first mortgage bonds, at $14,u00 per mile, are
guaranteed by the latter company, and these, with the income bonds at$7,000 per mile, were issmd as per the circular in V. 42. p. 59.
The Southern Kansas first mortgage and income bonds were issued ae
per circular in V. 42, p. 462.
Land Grant—The lands are in Kansas granted by Act of Congress
March 3, 1863, and Kansas, Feb. 9,1864. Land sales in 1885, 770,494r
acres for $2,048,533, being an average of $2 66 per acre; assets De
cember 31, 1885, $1,676,273 contracts and 445,863 acres yet unsold.
Operations, Finances, &c.—The connection with the Atlantic &
Pacific took effect for business in October, 1883, and the through
line to San Francisco by use of the Southern Pacific lines Oct. 1,1884.
RAILROAD
STOCKS AND
BONDS.
K
MAP
A p r il , 1886.]
ATCH ISO N, T O P E K A
ATiD
G
.SA N T A PE 11
sA-Hd. C o n r x e c tlo x is
U
L ^F '
0 F
E
X
I
C O
16
RAILROAD
STOCKS A N D
BONDS.
[Vou
X L II.
Subscriber« w ill confer a great favor by g iv in g Im m ediate n otice o f any error discovered in these Tables.
DESCRIPTION.
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount
For explanation of column headings, &c., see note8 of
par
of
When
on first page of tables.
Road. Bonds Value. Outstanding Cent. Pay’ble Where Payable, and by Stocks—Last
Whom.
DividendAtch. Top. < S.Fe—( Continued.)—
6
Marion A McPherson, 1st mort........ ) G’rantee (
93 1879 $ 1,000
$713,000
7 g. A. & O. Boston, North Nat. Bk Oct. 1, 1 909
Florence El Dor. & W., 1st M., g old .. 5 rental. )
26 1877
1,000
310.000
A. & O. Boston,
Leavenworth Topeka & S. W.—lstm ort., guar.
46 1882
1,000
690.000
I s- J. & J. Boston, Nat. B.N.Amer, Aug. 1, 1907
Am.L’nA Tr.Co, July 1, 1911
N. Mexico A So. Pac.—1st M., gold, guar, rental.. 372 1878
1,000
4.425.000
A. t
f
co.
Sonora, 1st mort., gold, interest guaranteed......... 262 1880
1.000
4.050.000
f Boston, Everett Nat.Bk A p r ili, 1909
? | : J. te J. Boston, Nat.Revere Bk. Jan. 1, 1910
Chic. Kan. & West., 1st mort., gold, g u a r ......... 450 1886 100 &c.
5.600.000
5 gBoston.
1926.
,, ^0
income bonds, non-oumuiat..
1886 100 Ac.
2.800.000
6
Southern Kansas—K.C. Law. A So., 1st mortgage. 175 1879 500 &c.
2.940.000
6
A.
"o Boston, Nat. Union Bk Apr. 1, 1909
.
Southern Kansas A Western—1st mortgage___
149 1880
1,000
1.688.000
7
J. & j .
do
do
Jan. 1, 1910
Sumner County RR.—1st mortgage
........
18 1880
1,000
221.000
7
M. < s.
fe
do
do
Sept. 1, 1910
Ottawa A Burlington RR.—1st mortg.................
42 1880
1.000
500.000
6
A. <
&o.
do
do
April 1, 1909
S. Kansas—1st mort., gold, $16,000 per mile.......
1886
1,000
5.600.000
5 g,
do
do
,
1926
Income bonds (not cumulative) $4,000 per mile)
1886
250
1.400.000
6
do
do
1926
Atlanta < Charlotte.—Stock (guar. 5 p. ct. by rental) 269
&
100
1.700.000
21« M. & ‘s. N.Y. Central Trust Co. March 6, 1886
New pref. m ort.............................. ....................... 265ia 1877
1,000
500.000
7
A. & o.
do
do
April 1,1897
Mortgage bonds..................... ..................... . . . . . 2651« 1877
1,000
4.250.000
7
J. < J.
fe
do
do
Jan. 1, 1907
Incomebonds, registered (not cumulative)
500
1880
750.000
6
A. & o.
do
do
April 1,1900
Atlanta < West Point—Stock....................
6
100
*87
1.232.200
3
J. < J. Atlanta, Ga., atTreas’y Jan. 18, 1886
fe
Debenture certificates............... .............. .*•»!*.I.I
1881
1.232.200
6
J. & J.
do
do
1891
Atlantic < Worth Carolina—1st mortgage.......
&
"¿00
”95 1868
196.000
8
Company’s Office.
1888
Atlantic <&Pac.- 1 s t mort. g.,W. D.(s.f.) $25,000p.in. 560 1880 l,000Ac 16,000.000
J. & \t.
New York.
July 1, 1910
Income bds., non-cum’tive, W. D. ($18,750p. m.)
560 1880
50 Ac. 12,000,000
A. & o.
Oct. 1, 1910
1st RR. & land gr. bonds on Cent. & Mo. Divisions
500 Ac.
1871
1,189,905
6
M. & N.
New York,
Nov. 1, 1891
1st land grant bonds on Central Division
102
796,629
6
At Mat.
do
Nov., 1901
New 1st mort., road and lands, Central D iv ..” ”
102 1882 l,0b‘0&e
600.000
6
M. & s.
do
March 1,1922
New income bonds, Central Division, non-cum
102 1882
50 &c.
450,000
6
J. < D.
fe
June 1, 1922
Arizona Mineral Belt—1st M., gold ($20,000 p m,'
75 1886
1,000
J. < ,T
fe .
Boston.
1916
Atlantic < St. Lawrence—Stock ($5,459,036 stg.)
6
151
4100
5,484,000
I s' M. < 8.
fo
Sept. 15,1885
1st mort. to City of Portland (sinking fund)
787,000
f
e
M. t N.
6
Nov. 2, 1888
2d mort. (owned bv Grand Trunk)..........
1,499,916
f
6 g. A. ieO IiOndon, Gr. Trunk Rw Oct. 1, 1884
3d mortgage, sterling, 5-20 y ea rs.... ...............
150 1871
£100
712,932
6 g. M.A S'.
do
do
May 1, 1891
Augusta < Savannah—Stock............
&
53
100
733,700
313 J. A D.
Savannah.
Deo. 4. 1885
In Nov., 1885, the Cal. Southern was completed, giving a through route on debt and 5 per cent on stock; if gross earnings of A A C A L "
to the Pacific coast by the Atlantic A Pacific road.
noo50'?
0,000’ di™ i®
lld8 to be. 6 per c e n t; Ind if th<Jexceed
The report for 1885 in the Chronicle, Y. 42, p. 4S9, said: “ Had the
same average rates been received in 1885 as in 1884, the freight earn- jAoOO.OOO, 7 per cent. Gross earnings in 1882-83. $1.074.016- net
J
$466,500; loss
gross,*
aS^8. ^ « I d have been increased $565,210 and the passenger earnings I ? 9 ;£ 7A , renta1’ $338,731; loss to R. A D. $69,325. In 1883-84, 8
$1,042,631; net,
to R. & D., $127,769.
$82,499. The reduction of the average rates the last two years has
been caused partly by the increased tonnage of lower class freight, but
A tla n ta & W e s t P o in t.—Owns from East Point, Ga., to West
Princir ally by an actual reduction of the rates obtained.
Pomt, Ga., 81 miles; leased, 6*a miles; total operated, 87*3 miles. In
1 do- ,
immigration into the State of Kansas during the spring of April, 1881, a controlling interest in the stock was purchased for the
188 d tended to lessen the unfavorable results of the general business Central Georgia, and a stock dividend of 100 per cent was afterward
depression which were at length beginning to be felt in that State ; and declaredm debenture certificates. Gross earn’s in 1884-85, $410.222- net
had it not been for the failure of the winter wheat crop, from the trans $173,079; in 1883-84, gross, $412,640; net, $133,378.
’
portation or which we have hitherto derived a large revenue, the earnA tla n tic & N orth C aro lin a.—Owns from Morehead City to Golds
mgs for 1885 would have equaled, if not exceeded, those for the
preceding year, notwithstanding the reduction in the average rates boro. 9o miles, and operates the Midland No. Car. Ry.from Goldsboro to
obtamed. It will be noticed that the passenger travel was especially Smithfleld, 22 miles. Gross earnings in 1883-84, $146,324; net, $50,432.
satisfactory, and the constant filling up of Kansas with new settlers
A tla n tic & Pacific.—This corporation was chartered by A ct of Con
augurs well for the future prosperity of the State and for the business gress July 27,1866. The Western division is from Isleta, near Albuquer70Ur company. The large corn crop affected the earnings only que, on At Top. A Santa Fe, to Big Colorado River, 560 miles, where it
indirectly, as the yearly increased use of corn in Kansas for feeding meets the line to Mojave, Cal. (242 miles), leased by this Co. in 1884
pm-poses tends to diminish the transportation of that article. On the from the Southern Pacific of Cal. The A. & P. to Colorado River was
otner nana, tli6 sliipmeiits of live stock considerably increased; and tlie opened for traffic Oot., 1883; in Nov., 1885, the Cal. Southern was
better proiir thereby obtained by the farmers tends to increase the completed, giving a through route to San Diego on the Pacific coast.
;
general prosperity of the State, and to that extent favorably affects the Also the Central Division is finished from Seneca, Mo., to Red Fork in
business of your road.”
the Indian Ter., 102 miles, and projected westward to a junction with
an^afaíMnBOnt'1.
>
1
8
®8b- 28, 1886, gross earnings were the Western Division. The Central Division is at present operated by
*
Ü 5 6 43210’ agaln8t $ 2’ 180-446 in 1885; net, $747,386, against the St. Louis A San Francisco Railway Co.
By the “ tripartite” agreement of Jan. 31, 1880, the Atch. Topeka &
Enrnings and operations for three years, and income account for 1884 8. F. and the St. Louis & S. F. guaranteed 25 per cent of the gross earn
S ¿n d l885, were as follows, these statistics embracing the Atchison ings over their lines on business to and from the West. Div., provided
®an^a P® and Southern Kansas systems combined, but nothing its own earnings were insufficient to pay coupons, and the advances so
of the Sonora, Atlantic & Pacific, or roads owned jointly, although the made constitute a loan to be repaid by the A. & P. with interest. The
interest on Sonora bonds is deducted from Atchison earnings.
stock authorized is $100,000,000, and issued $54,810,300 (par $100),
of which $41,302,600 is owned oy the At. T. & S. F. and the St. Louis A
OPERATIONS AND FISCAL RESULTS.
S- F^icompanies equally, and deposited in trust tor thirty years. The
1883.
1884.
1885.
stock is classed thus: Western Div., com. stock, $34,750,000; Cent, and
2,219
Total miles operated..................
2,374
2,397
Mo. divs., com. stock, $3,660,300, pref., $11,400,000. The old pref
Operations—
stock has no preference over the A. A P. West. Div. stock. Of the first
Passengers carried. No............... l ,072,169
1,502,485
1,849,577 mort. bonds outstanding, about $2,000,000 have been is -ued in advance
Passengers carried one mile___ 120.411,659 135,412,096 149,999.427 of construction.
Rate per passenger per mile___ 2-909 cts.
2-648 cts.
2*593 cts.
The Southern Pacific built east to meet this road at the Colorado River,
Freight (tons) moved................. 2,240,430
2,725,191
2,602.056
m
242 miles of road from
Freight (tons) carried one mile.582,176,176 634,711,316 607,753,550 andtheAugust, 1884, the was sold to the A. A P.Mojave to The Needles,
on
Colorado River,
Company for $7,271,Rate per ton per mile................
2-009 cts.
1-882 cts.
1-789 cts. 100, payable in A. A P. 1st mortgage bonds, at par. issued on said 242
Earnings—
$
miles, hut ‘ ‘ should the bonds or their proceeds he less than the purchase
Passenger..................................... 3,502,950
3,583,018
3,889,411 price the difference is payable in money.” (This difference in cash was
freigh t.......................................... 11,699,194
11,946,453
10,873,621 $1,2l i , 850 above the par value of bonds issued to the South’n Pacific.)
Mail, express, A c.........................
707,297
762,412
808,363 Until clear title to this piece of ro id is given, the A. A P. takes posses
sion and pays 6 per cent per annum on the $7,271,000. The same
Total gross earnings........ 15,909,441
16,291,883 15,571,395 negotiation gave a right by contract to run through trains to San Fran
Operating expenses—
cisco over the Southern and Central Pacific lines on payment of rental
Maintenance of way, &c............ 2,216,574
2,861,236
2,280,291 either on a'mileage basis or at 3 per cent per annum on $40,000 per mile.
Maintenance of equipm ent.... 1,124,949
1,461,896
1,409,732 See Y. 39, p. 208; V. 40, p. 50.
Transportation expenses............ 3,227,352
3,560,610
3,777,357
The land grant claimed under the old Atlantic A Pacific charter
Miscellaneous..............................
673,722
670,856
388,393 of July, 1866, is 25,600 acres per mile in Territories and 12,800
Taxes............................................
410,319
421,378
459.194 acres in States. The total land grant on the whole road, if con
structed as under the charter, would be 42,000,000 acres; on the
Total operating expenses 7,652,916
8,975,976
West. Division upwards of 14,000,000 acres in New Mexico and Arizona
Net earnings................................ 8,256,525
have been earned by construction, and in the Indian Territory 2,600,000
7.315,907
acres more, the best of these lands being well adapted for grazing. The
P. c. of op. expns. to earns........
48-10
5509
proceeds of sales of the company’s lands have so far been applied to pay
„
. ,
INCOME ACCOUNT.
ment of interest on A. A P. bonds or the lands have been convevea in
Receipts—
1884.
trust to the Atchison and San Francisco companies, and about 6,000,000
Net earnings....................................................... $7^315*907
acres have been so disposed of. See Chronicle, V. 40, p. 49. The
Rentals, dividends, A c ....................................
’ 28 488
first mortgage bonds may be drawn and paid off at 110 with proceeds of
Other receipts................................... . .
142 014
land sales. They are receivable at par in payment for lands. A map of
From land grant trusts..................... 1111111111
188^281
the land grant was published in the Chronicle, V. 36, p. 468.
The income account for 1884 was in V. 40, p. 49, but this had little
Total income............................................. $7,674,690
$7,614,371 significance, as the Mojave Division was not operated till August,
Disbursements—
«
1884, and the traffic contracts and rebates did not appear in this
Rentals paid.......................................................
$37 093
$25,500 account. The deficit in income to pay interest has been made up by
Int. on At. T A 8. F. and So. Kan. bds.............
1,812*544
1,980,664 advances from the Atchison and San Francisco companies.
Interest paid as rental......................
866*655
854,930
H. C. Nutt, President, Boston. The following directors were eleoted
Interest on land bonds......................................
188*281
180,188 May. 1885: Henry C. Nutt, W. C. Strong, I. T. Burr, C P. Cheney,
Interest on Sonora bonds..........................
"
’
283,500 A. W. Nickerson, Walter L. Frost, Geo. O. Shattuck, L. C. Wade, of
g^ id en ds.
................................................
3,414",736
3,414,786 Boston: Jesse Seligman, C. P. Huntington, Edwin P. Winslow, Brice
Rate of dividend..........................
6
6
Gray, Wm. F. Buckley, of New York. (V. 40, p. 27, 84, 624, 651, 763 ;
Sinking funds............................................................... 269,716
299,525 V. 41, p. 2 2 ,49 , 189, 652, 688; Y. 42, p. 333, 393, 462, 487.)
46,093
A tlan tic Sc St, L a w ren ce.—Owns
Miscellaneous.................................... .
25,000 Pond, Vt. (and branch), 151 miles, there from Portland, Me., to Island
connecting with Grand Trunk
of Canada, to which leased for 999 years, August 5,1853, at a rental
Total disbursements................................... $6,830,707
$7,110,186 equal to bond interest and 6 per cent on stock. The bonds to city of
Balance, surplus.....................................» .........
$343,983
$504.1*5 Portland are provided for by accummu ations of sinking fund.
The Grand Trunk RR. owns the 2d and 3d mortgage bonds, and has
684;
issued its own debentures against them. The A. A St. L. must issue new
V.
bonds or stock to the Grand Trunk on surrender of tne 2d mort. bonds.
.
* Î , i î a r !,o t t e A ir L in e .—Owns from Charlotte, N. C.. to Gross earnings in 1883-84, $1,067,432; net, $175,411. Gross in 1884-85,
269 miles. The Richmond & Atlanta Air-Line was sold $973,363; net, $211,396.
H^der foreclosure Dec. 5,1876, and the existing corporation was formed
A u gu sta Sc Sa va n n ah .—Owns from Miilen to Augusta, Ga., 53
^ft^.A2J’ À o ^ i i 0n+Marc?
tQe roa> was leased to the Rich
d
mond & Danville at a rental of $462,000 pet year, equal to the interest miles, Leased to Central of Georgia for $ 3,000 per annum. Has no
bonded debt.
A p r il ,
1886.J
RAILROAD
STOCKS
AND
17
BONDS,
Subscribers w i ll confer a great favor by g iv in g im m ediate notice o f any error discovered in tbese Tables.
Bonds—Princi
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due.
Amount
For explanation of column headings, &c., see notes of
of
Par Outstanding Rate per When ¡Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value,
Cent, Payable
Whom.
Dividend.
Bald Eagle Talley—Gen’lmort.,(s. f. $4,000 per yr.)
80
Baltimore < Ohio■ Stoch............................................. 1,650
&
—
Preferred stock..........................................................
....
Loan due in 1880, extended.................................. . . . .
Loan, 1853, extended in 1885................................. . . . .
do 1870 .sterling, £800,000, sink, fu n d ..........
....
Baltimore loan, 1855-’90, sink, fu n d .....................
Sterling mortgage, sinking fund.............................
4 ÏÏ
Sterling mortgage, sinking fund............................ 421
Purchaseof Connellsv. RR (payable $40,000y’ly)
Loan,ster.,(s.f. £7,500) (B.O. & Ch.bds collat’l)....... 263
Bonds (Parkersburg Branch bonds collateral)___ 104
Bonds to State of Maryland..... ............................... .. . .
Sterling mortgage on Philadelphia Branch..........
Bonds, gold (Pittsb. & Connellsville b’ds collat’l). iso
Mort. on Schuylkill R.East Side RR., gold (guar.)
Baltimore < Potomac—1st M (tunnel) gold, s. f. 1 p. c. ""¿ja
£
1st mort., road, gold, coupon, s. f. 1 per c e n t.......
90
2d mortgage, income, road and tunnel, reg..........
92
Beech Greek Clearfield < S. W.—Stock......................
£
82
Belleville < El Dorado—Is t(int. guar. St.L.A.& T.H.)
6
52
2d mortgage........., .....................................................
52
Belleville < South. III.—1st M. (int. & s.f. guar.).......
£
56
Bells Gap. —
Stock............................. ........................... . . . .
1st m ortgage............. ................................................
Exteiision 1st mortgage.................................... ....i . . . .
Consol, mort. (for $550,000)....................................
Belvidere Del.—1st mort. due 1877, extended, guar. '6 4
3d mortgage bonds of 1857 (now 2d)....................
64
Consol, mortgage of 1876..... ...................................
67
Consol. mort., reg............. .......... ....................... .
67
Flemington RR. mortgage bonds............................
12
Bennington < Rutland—1st mortgage......................
&
59
1880
.. . .
....
....
1853
1870
1855
1872
1874
1875
1877
1879
1878
1883
1885
1885
1871
1871
1875
¿880
1880
1866
1873
1875
1883
1877
1857
1876
1885
1876
1877
$1,000
100
100
....
....
£100
£200
....
£200
1,000
.. . .
£200
1,000
1,000
1,000
1,000
1,000
50
1,000
....
....
....
1,000
500
1,000
1,000
1,000
1,000
$380.000
14,792,566
5,000,000
577,000
1,710,000
1,906,839
2,575,000
7,179,612
8,290,096
600,000
7,381,968
3,000,000
366,000
11,616,000
10,000,000
(?)
1,500,000
3,000,000
2,000,000
4,307,000
220,000
330,000
1,041,000
550,000
250,000
100,000
200,000
1,000,000
745,000
1,200,000
500,000
250,000
475,000
6
4
3
4
4
6g.
6
6 g.
6 g.
6
5 g.
6
6
4*3 g.
5 g•
5 g.
6 g6 g.
6
J. & J. London or Baltimore.
A < O.
.. fe
Baltimore.
J. & J.
do
___
’ 7'
6
8
5
7
6
6
6
6
7
4
6
7
J. &’ ’j . N. Y. St. L.A.&T. H. RR. July, 1, 1910
F. & A.
do
do
Aug. 1, 1920
A. & O. N.Y. St. L. A. & T. H. RR. Oot. 1, 1896
Dec. 31,1885
J. & J. Phil. ,Cassatt,Town. &Co July 1, 1893
F. & A.
do
Aug. 1, 1905
April 1, 1911
J. & D. Philadelphia, Pa. RR.
1902
F. & A,
do
do
1887
J. & J. Treasurer. Trenton.N. J. Jan. 1, 1916
M. & S. Philadelphia, Pa., RR
Sept., 1925
J & J. Treasurer, Trenton.N. J. Jan. 1, 1916
M. & N. N.Y., Union Trust Co. Nov. 1, 1897
J. & J. Phila. .F.Ins.Tr. &S. Dep.
M. & N.
Baltimore, Office.
J. & J.
do
do
J. & J.
do
do
A & O.
..
do
do
M. & S. Lond’n.BaringBros &Co
J. & J.
Baltimore, Office.
M. & 8. London, J.S.Morgan&Co
M. & N. London, T.S.Morgan&Co
J. & J.
Baltimore, Office.
J. & D. Lond., Baring Bros.&Co.
A. & O. Balt. & N.Y., D. M & Co.
J. & J. Balt. & Ohio RR. Co.
A. & O. London, Brown, S. & Co.
F. & A.
New York Agenoy.
Jan. 1. 1910
May 17,1886
Jan., 1886
At will.
Oct, 1, 1936
Mar. 1, 1895
1890
Mch. 1, 1902
May, 1910
1886-1900
June 1, 1927
April 1,1919
July 1, 1888
April 1,1933
Feb. 1, 1925
1925
July 1, 1911
April 1, 1911
Jan. 1, 1915
B a ld E a gle V a lle y .—Owns from Vail Station, Pa., to Lockhaven, 393 ; 1877,1,047,645; 1378; 1,149,499; 1879,1,425,629; 1880,1,980,
Pa., 51 miles; branch, Milesburg, Pa., to Bellefonte. Pa.. 2*o miles ; 3 9 7 ;1 8 8 1 ,2 ,01 4 ,1 1 0 ; 1882,2,043,227; 1883, 2,108,325; in 1883-4,
Snowshoe to Sugar Camp, 26*2 miles; total operated, 80 miles. Opened 2.275,252; in 1885, 2,338,147 tons.
December 7,1864, and leased to Pennsylvania Railroad Company for 99
The gross and net earnings of the main stem and its branches and of the
years. The branch is the property of the lessors. Rental, 40 per cent other divisions for the last fiscal year, as compared with 1882-83. were:
of gross earnings. Gross earnings m $1885, $463,156 ; net, $231,719. In
-Earnings, 1883-84.-Earnings, 1884-85.
Feb., 1885, 5 per cent paid. Stock is $935,000 (par $50), and divi
Gross.
Net.
Gross.
Net.
dends are paid according to earnings.
Main stem, etc............. $11,506,958 $5,237,742 $9,733,252 $3,969,900
335,944
180,331
315,308
B a ltim o re Sc O hio—(See Map).—Line of R oad—The B.& O. system Washington Branch...
194,771
643,164
141,753
547,757
embraces roads in Md., Va., Penn., Ohio, Ina. and 111., which are clearly Parkersburg Branch...
48,848
1,169,773
376.638
1,060,I f 6
shown in the accompanying map. By means of the Marietta & Cin Central Ohio Division.
295,856
1,016,508
261,700
817,785
cinnati, via Parkersburg, the road has a direct route to Cincinnati. Lake Erie Division ..
119,918
2,046,880
488,988
1,724,612
The B. & O. mileage is : Main 6tem, Baltimore to Wheeling, 379 miles, Chicago Division.........
261,605
2,294,827 1,043,132
1,999,960
and branches, 272 miles, total, 651 miles; Washington Branch, Relay to Pittsburg Division.......
773,419
141,896
13,621)
Washington. 31 miles; Parkersburg branch, Grafton to Parkersburg, Wheeling Pitts. & Balt.
7,840
112,125
16,668) 299,372
104 miles; Central Ohio division, Bellaire to Columbus, 137 miles; Lake Pittsburg Southern___
168,532
757
Erie division, Newark to Sandusky, U 6 miles; Chicago division, Chicago New’k Somerset & St’le
118,430 def. 29,102
Junction to Chicago, 271 miles; Pittsburg division, Cumberland to
Totals..................... $19,436,607 $7,760,300 $16,616,642 $5,643,057
Pittsburg, 150 miles, and branches, 94 miles, total, 244 miles; Wheeling
The working expenses of the whole system were 66-03 per cent of gross
& Pittsburg division, Glenwood to Wheeling, 66 miles; Straitsville divi
sion, Newark to Shawnee, 43 miles; total operated Sept. 30,1895,1,663 revenue in 1884-5, against 60-07 per cent the preceding year. Results
miles. The Baltimore & Ohio Philadelphia branch, connecting with the on all lines in five years have been ;
Gross Earnings.
Operating Expenses.
Net Earnings.
Balt. & Phila. RR., makes a line from Balt, to Phila., and thence via the Years.
$11,390,479=61-69 p. c.
$7,073,398
Schuylkill Vài. & East Side RR. to a connection with the Phila. & Read, 1880-81............$18,463,877
188182..... 18,383.875
10,929,213=59-44 “
7,454,662
lines to Bound Brook, N.J. Thence the proposed route to Staten Island,
as noted in Chronicle, V. 41, p. 611.
188283..... 19,739,837
11,034,014=55-89 “
8,705,823
188384..... 19,436,607
11,676,307=6007 “
7,760,300
Organization , L eases, &c.—The corporation was chartered in Mary 1884r-85............. 16,616.642
10,973,585=66 03 “
5,643,057
land Feb. 28,1827, and in Virginia March 8,1827. First section opened —(V. 4 0 ,p. 181,453, 541, 763; V. 41, p. 306, 555, 573, 5 8 3 , 611, 653 ;
May 24, 1830. The company was assisted by loans from the (Sty of
Baltimore. The relations with the auxiliary branches and leased roads V. 42, p. 92, 271.1
B altim ore Sc P o to m a c .—Owns from Baltimore. Md., to South
are complex, but the B. & O. virtually owns nearly all of these east of
the Ohio River, and the total charges for rentals and guarantees are End Long Bridge, Va., 43 m iles; and from Bowie to Pope’s Creek, 49
moderate. In 1884 the stocks and bonds of allied companies held were miles: total, 92 miles—including tunnel in City of Baltimore. The road
$21,786,000 (of which $7,711,000 were held by trustees). The company is controlled by the Pennsylvania Railroad Co., and first mortgage bonds
has been exceptional in not increasing its own stock or bonds for new guaranteed by Pennsylvania and Northern Central. Capital stock,
properties acquired, and had a surplus to credit of income account $3,553,250. In 1884 gross earnings, $1,224,572; profit. $58,527. In
1885, gross eamiugs, $1,323,091; net, $554,540; interest charge, $297,Sept. 30,1885, of $47,814,615. Fiscal year ends Sept. 30.
Stocks and B onds—The pref. stock carries 6 per cent dividends only. 181. Income bonds wholly held by Penn. RR. Co. Gross earnings fro m
Jan. 1 to Feb. 28, 1886, $194,897, against $192,313; net, $71,637,
The common stock has paid—in 1877, 8 per cent ; in 1878, 8 in stock ; in against $61,613.
1879, 4 stock and 4 cash; 1880, 9 ; 1881,10 ; 1882, 10 ; 1883,10 ; 1884,
Beechi Creek Clearfield Sc S. W . —Jersey Shore, Pa., to Anson10; 1885,10. The range in prices of common stock in Baltimore in
1881. was 183®210; in 1882, 1903202; in 1 8 8 3,1 9 2 ^ 3 20 5 ; in 1884, ville Junction, Pa., 67 miles; branohes to Philhpsburg, to mines, &o.,
15 miles; total, 82 miles. This is the company in which the Messrs.
1673199; m 1885, 166*23185 ; in 1896, to April 16, 1693191,
The Baltimore & Ohio direct bonds of 1879 o i Parkersburg Vanderbilt and others were interested, and which was to be sold in 1885
Branch are secured by deposit of mortgage on that road. The sterling to the Penn. RR. Co., as per circular quoted in Chronicle , V. 41, p.
mortgage of 1883 is made to William F. Bums, John Gregg and T. Har- 103, by the terms of which the Peun. RR. offered to purchase 60 per
rison Garrett, trustees, and secured also by pledge of £1,000,000 1st cent of the stock and guarantee 4 per cent per annum on bonds to be
mort. bonds of the Balt. & Phila. RR. (Md. State line to Phila.) The issued not exceeding a total of $5,000,000. There is no funded debt
X0I^5,,0f 1877, due 1927, are secured by the mortgage bonds of the B. out, but $1,300,000 of bills payable, seoured by pledge of $4,500,000
° . & Chic, roads deposited as collateral. The B. & O. bonds of 1885 are bonds. An assessment of stock and a reorgauization is proposed, as in
secured by $10,000,000 2d consol, bonds of Pittsburg & Connellsville V, 41, p. 720. (V. 41, p. 103, 355, 556, 653, 720.)
RR., deposited with Union Trust Co. of N. Y. as trustee. The bonds of
B ellev ille Sc B1 D orad o.—An extension of Belleville & So. Illinois»
the Schuylkill \ al. & East Side RR. ($4,500,000) are to be guaranteed from Du Quoin to El Dorado, 52 miles, and leased to St. L. Alton & Terre
by B. & O., as that road forms part of the route Phila. to N. Y.
Haute. Rental 30 per cent of gross earnings up to $2,500 per mile, and
.
^ ANCE8’
',IN
The fiscal year ends with Sept. 30, and 15 per cent on all above that amount. Rental received for 1883,
for 1884-85 an abstract of the report was given in the Chronicle, Voi. $15,678; for 1884. $15,171; for 1885, $15,463. Stock, $1,000,000.
41, p. 583. The full report in pamphlet form, with income account and
B ellev ille Sc Southern Illin o is .—Owns from Belleville, 111., to
baiance sheet, is not issued till some months after the close of fiscal year. Duquoin, HI., 56 miles. It was leased Oct. 1,1866, to the St. Louis Alton &
The income account for the year ending Sept. 30,1885, was ;
Terre Haute Railroad Co. Lease rental 40 per cent of gross earnings
Net earnings from transportation.............................................. $3,969,900 up to $7,000 per mile (except on coal, &c.), 30 per cent above $7,000 and
up to $14,000 per mile, and 20 per cent on any excess of $14,000 per mile.
Receipts from other sources—
Rental for 1883, $167,719; for 1884, $158,799; for 1885, $157,917. I n
Dividend of 10 p. c. for year on Wash. Br. stock... $102,800
terest on bonds, and sinking fund $5,000 per year, guaranteed by lessees.
House rents received during fiscal vear___
10,989
Increment from sinking fund, W. (5. & P. L. RR.'.’ ’ .
’
5,430— 119,219 Common stock, $430,000; pref. 8 per cent stock, $1,275,000, non-cumulative. Dividends on preferred stock past four years have been—5 in
Available revenue.......................
«a nocTi i q
Payments—
....................................... qs4,ua»,il» 1885; 5*2 in 1884; 6*4 in 1883; 5*a in 1882; 4*3 in 1881.
B ells G ap.—Bellwood, Pa., to Irvona, Pa., 25 miles. Gross earnings
Dividends 10 per cent........................................
< i 470 405
g
in 1883-4. $133,944; net, $68,729; interest paid, $37,022; dividends,
Interest and taxes...........................
$3” 650*479 ’
’
$85,500; miscellaneous, $11,000; deficit, $57,309. Jan., 1883, scrip
Less cash rec’pts & net eam’gs of B. & ’
’
dividend of 15 per cent was declared on stock ($350,000). Of the consol,
O.&C.RR.andL.ErieandC.O.divs... 1,560,761—2,089,718
Ground rents.....................
’
’ S o 4.1 %
mortgage $350,000 is reserved to retire prior issues. Stock was in
creased in 1883 to $550,000. Chas. F. Berwind, Pres., Philadelphia.
Rental of Winchester & PotomacRR ‘ "f¡g | ¡éAÍ
’
$27,000
Do Winchester & Strasburg RR
5,229
B elvidere D ela w a re.—Owns from Trenton, N. J., to Manunka
Do Strasburg & Harrisonb.RR.
89,250
Chunk, N. J., 67 miles; Millham Cut-off, 1 mile, Flemington RR., 12
Do
W.City & Pt. Lookout R R ..
30,000
miles; total operated, 80 miles. Leased to United Companies, and trans
157,479
Straitsville Division, lo s s ......................
ferred to Pennsylvania RR. March 7,1876, by which operated as their
64,631
Central Ohio Division, loss........
Belvidere Division, and net earnings paid over as rental. In Feb., 1835,
75,202 '.
Lake Erie Division, loss.............
79.431-3,978,301 the Flemington RR. Co. was merged in this. The 1st mort. and new
Balance, credited to profit and loss..................... .
—$110 818 4 p.c.bonds are guaranteed by the United Companies. In 1885 net earn
ings were $467,670 and interest payments $269,718. In 1884, net,
4iT n ^ «4 contains e ,lai8tiian^ual report :
6
T
41, p. poo, ^ n ^ 2 L tAtn© following remarks ¿ v e n in the Chronicle, Vol. $529,409; mt., $263,543. Capital stock, $1,150,000; par of shares, $50.
J? pk°wn by the report of the General Manager that the tonnage of - ( V . 41, p. 215.)
through merchandise east and west has been 2,338,147 tons, whilst in
B en n in g to n Sc R u tla n d .—Owns from Rutland to Bennington,
year it was 2,275.252 tons. 766,163 barrels of flour and Vt., 57 miles; branch, No. Bennington to New York State Line, 2 m iles;
13,048,258 bushels of gram were brought to Baltimore during the fiscal total, 59 miles. Chartered as West. Vermont in 1845, and consolidated
in Harlem Extension in 1870. Since Sept. 10,1877, the Vermont division
fA % 9 o « f,n a .in^ grain as compared with the preceding vear ”
an
I ’495>206 bushels ofea8ei 0f 48’905 b^rre,s oi &oar and an Increase of (as above) operated by the reorganized Bennington & Rutland. Stock
The tonnage of through merchandise East .and West was as follows in $1,000,000 authorized (par $50), and $502,000 issued. In 1883 gross
each of the past ten years : 1874, 752,256; (875, 872,101; 1876,1,093, earnings $235,916; net $43,593; in 1884, gross $210,621; net, $4.724.
RAILROAD
STOCKS AND
BONDS.
MAP OF T H E
BALTIMORE & OHIO
RAILROAD
A N D CONNECTIONS.
[yO x l i i .
L
Q
ID
A p r il ,
1886. J
Kä ILKOAD
stocks
and
19
bo nd s,
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered in these Tables.
Bonds—
Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due.
Miles Date Size, or
Amount
of
For explanation of column headings, «fee., see notes of
Par Outstanding Rate per When Where Payable, and by Stocks—Last
Dividend.
Cent. Payable
Whom.
Road. Bonds Value.
on first page of tables.
Berkshire—Stock............................................—...........
Boston < Albany—Stock.............................................
&
Plain bonds, coupon or registered..........................
Bonds issued to State for its stock............. ............
Boston Concord, < Montreal—Old pref. stock, guar..
&
Sinking fund bonds ($624,000).............................
Consolidated mortgage bonds (ior $2,000,000) —
Improvement mortgage bonds.................- ..............
Bost.Hoosac Tun.&West—Debenture b on d s.............
Boston < Lowell—Stock.................................................
6
Bonds...........................................................................
Bonds.......................................... - .............................Bonds...........................................................................
Bonds...........................................................................
Bonds...........................................................................
Bonds...........................................................................
22
374
.. . .
Ï86
186
Ï60
166
681
Boston < Maine—Stock...............................................
6
Bonds, coupon and registered.................................
206
Boston < N. F. Air-Line—Stock, pref. (guaranteed)
&
1st mortgage.......................... ...................................
boston & Providence—Stock........................................
Bonds to purchase branches, coupon or registered
Bradford Bordell & Kinzua—1st mortgage........
Bradford Eldred < Cuba—1st m ort..........................
&
Brooklyn Elevated—1st mort.......................................
2d mortgage (for $1,250,000).................................
Brooklyn & Montauk—Stock ($1,100,000 is pref.) ..
SoutliSide, Istmortgage . . . . . ’ ..... ........ ..J ...
54
50
68
i.
41
54
6-9
6-9
82
54
1872
1875
1882
1858
1873
1881
1883
1872
1875
1876
1879
1883
1885
$100
100
1,000
1,000
io o
100
100 «fee.
200 «fee.
1,000
1,000
100 «fee.
100
1873-4 500 «fee.
1885
100
1880
1,000
100
1873
1882
1,000
1,000
1881
1884
1,000
1885
1,000
100
1867 500 «fee.
B erk sh ire.—Owns from Connecticut State Line to West Stock
bridge. Mass., 22 miles. Leased in perpetuity to Housatonie Railroad
Company at 7 per ct. on capital stock, $600,000. Lessors pay taxes, <fec.,’
and for this reason the quarterly dividend due in Oct. iq usually omitted .
B osto n & A lb a n y .—Owns from Boston, Mass., to Albany, N. Y . ,
201 miles; numerous branches, 99 m iles; leased lines, 84 m iles; total
operated 384 miles. The Boston & Albany was formed (Dec,, 1867)
by the consolidation of the Boston & Worcester and the Western rail
roads. The five per cent bonds of 1882 were issued to the State of
Massachusetts in exchange for 24,115 shares of B. & A. stock held by
the State, and in September, 1883, out of this stock a stock dividend of
10 per cent was made to stockholders. Last annual report in Y. 41,
p. 494.
For quarter ending Dec. 31,1835, gross earnings were $2,136,149,
against $¿,015,259; net, $753,911, against $729,038; interest, tax.es
and rentals, $586,707, against $366,048; surplus, $167,204 in 1885,
against $62,990 in 1884. Operations for four years were as follows
Passenger Freight (ton)
dross
Net
Div.
Years. Miles.
Mileage.
Mileage.
Receipts. Receipts.* p. ct.
18812.. 369151,255,032 374,317,338 $7,790,372 $2,189,381 8
18823.. 369157,255,971 373,535,456 8,539,875 2,380,971 8
18834.. 384167.402,441374,347,455 8,148,713 2,362,836 8
1884r-5.. 384 167;097,784 398,862,058
7,637,982 2,344,305 8
* Net receipts include income from rents, &c.
—(Y. 40, p. 570; Y. 43, p. 190, 4 9 4 , 611; Y. 42, p. 217.)
B o sto n Concord & M o n trea l.—Owns from Concord, N. H., tc
Woodsville, N. H., 93 miles; branches—Woodsville, N. H., to Groveton
Junction, 53 miles; Wing Road to Mt. Washington, 20 miles; leased
Plymouth to No. Woodstock, 21 miles; total operated, 186 miles.
In June, 1884, leased to Boston < Lowell. See V. 38, p. 705.
fe
Of the sink, fund bonds due in 1889, there are outstanding in the hands
of other parties, $202,000, on which interest is paid; the trustees holding
$306,000 and the corporation holding $116,000 on which no int. is paid.
Fiscal year ends March 31. The income account in 1884**5 showed net
receipts from rentals, &c., $272,748; charges, $307,564; balance, deficit,
$34,616. (7. 40, p. 6 51.)
B o sto n H oo sac T u n n e l & W e ste rn .—Owns from Massachu
setts State Line to Rotterdam (junction of N. Y. West Sh. < Buff.RR.), N.
&
Y., 55 miles, and leases branches to Saratoga and to Schuylerville, N. Y.,
26 miles; total, 80 miles. The road connects with the line running
through the Hoosac Tunnel. In March, 1883, all property ana rights
west of Hoffman’s Ferry (10 miles west of Schenectady) were reported
as sold to the N. Y. W. Sh. & Buff, for $400,000 cash and $700,000 stock
of the N. Y. W. S. & B.
The work of construction was done under contract by the Continental
Construction & Improvement Co. (120 Broadway. New York), and a cir
cular dated Aug. 4,1883, issued by that company, gave particulars con
cerning the affairs of the company as quoted in the Investors’ Supple
ment up to December, 1885, inclusive. The debenture bonds are re
deemable at will prior to maturity and may be converted into mortgage
bonds if any are hereafter issued. Stock outstanding Sept. 30, 1885,
$600,000
20,000,000
5,000,000
2,000,000
3Ì858ÌÒÓÒ
800,000
1,000,000
202,000
1,947,400
500,000
2,000,000
4,541,700
999,500
500,000
750,000
620,000
250,000
500,000
200,000
226,900
7,000,000
3,500,000
600,000
2,983,500
500.000
4,000,000
500,000
498,000
500,000
3,500,000
1,250,000
2,000,000
750Í000
2
7
6
5
2ifl
6
6< 7
fe
6
5
3
7
7
6
5
4!fl
4
6
6
4
7
4
2
• 5
4
7
6
6
6
3-5
7
Q .-J . Stockbridge, Treasurer.
Boston, Office.
Q .-J .
F. & A.
do
J. «fe J.
A. < 0.
&
do
M. «fe N.
Boston, Office.
J.
A.
J.
M.
J.
A.
M.
J.
J.
M.
M.
«fe J.
< O.
fe
«fe J.
«fe S.
«fe J.
< 0.
&
< S.
fc
«fe J.
«fe J.
< N.
fc
«fe S.
A. < O.
&
M. «fe N.
J. «fe J.
A.
F.
M.
J.
J.
J.
A.
J.
< O.
&
< A.
fe
< N.
&
< J.
&
«fe D.
«fe J.
< O.
&
«fe J.
April 2,1886
Mar. 31, 1886
Feb. 1, 1892
July 1. 1895
April 1, 1902
Nov. 9, 1885
Boston, Office.
do
do
do
do
N. Y., Kountze Bros.
Boston, at Office.
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
Boston, at Office.
do
do
1889
1893
1911
1913
Jan. 1, 1886
April 1, 1892
March 1,1895
July 1, 1896
July 1, 1899
1903
Sept. 1, 1905
Oct. 1, 1897
Oct. 1, 1898
Nov. 16,1885
Jan.,1893 < 94
fe
1905
N.Y., N.Y. N. H & H. Co. April 1, 1886
do
do
1905
Boston, at Office.
May 1, 1886
do
do
July 1, 1893
Last paid June, 1884. June 1, 1932
Last paid July, 1884. Jan. 1, 1932
New York.
Oct. 1, 1923
do
July 1,1915
M. & S. N.Y., Corbin Bank’g Co. Mar. 1, 1887
B osto n A M a in e.—Owns from Boston, Mass., to Portland,
Me., 115 miles; branches, 11 miles; leased—Boston to New Hamp. State
line 41 miles; N. Hamp. State line to Maine State line 16 miles; Maine
State line to Portland 51 miles; Conway Junction to North Conway 73
miles; numerous short branches, 187 miles; total operated, including
Eastern, 489 miles, less 3 miles leased. In March, 1883, voted to lease
the Eastern RR. of Massachusetts, but after litigation the lease was held
to be invalid and a new one was made in December, 1884, on the basis
stated under title of the “ Eastern” in this Supplement. In Dec., 1885,
leases of the Worcester Nashua < Rochester and the Portland < Roches
fe
fe
ter railroads for 50 years from Jan. 1, 1836, were confirmed by vote of
stockholders. The year ends Sept. 30. The last annual report was in
V. 41, p. 652, and the earnings and expenses for two years of the oom
bined properties were as follow s:
Operations—
*
1883; 84.
1884-85.
Passenger mileage..... ........................... 198,084,721
204,321,021
Freight (tons) mileage............................. 122,597,198
114,506,044
* Earnings —
Passenger................................................... $3,-550,676
$3,544,302
2,489,003
Freight.................................
2,435,401
Mail, express, «fee......................................
248,740
252,39»
Total gross earnings.......................... $6,288,419
Total operating expenses............. 4,196.990
$6,232,096
4,161,006
Net earnings.............................................. $2,091,429
Per cent of operating exp. to earnings.
66-74
—(V. 40, p. 27, 213; V. 41, p. 527, 556, 584, 6 5 2 , 688.)
.«2,071,090
66 76
B osto n & N ew Y o rk A ir L in e .—Owns from New Haven, Conn.,
to Willimantic, Conn., 50 miles; leased. Tumerville to Colchester, 4
miles ; total operated, 54 miles. Formerly the New Haven Middletown
< Willimantic. A lease was made in Oct., 1882, to the N. Y.N.H.& Hartf.
fc
RR. for 99 years at 4 per cent dividends per year on the pref. stock and
interest on the bonds ; the common stock is $834,900.
B osto n & P rovidence.—Owns from Boston, Mass., to Providence,
R. I., 44 miles; branches, 20 miles ; leasèd, Attleborough to North A ttle
borough, 4 miles ; total operated, 68 miles. The company have valuable
depot properties in Boston. Notes outstanding September, 1885, were
$310,000. Annual report in V. 41. p. 555. Gross earnings in 1883-84,
$1,727,147; net, $352,153; in 1884-85, $1,677,066; net, $381,326.
- ( V . 41, p. 55 5 .)
B rad ford B o rd e ll & K i n z u a - (3-foot gauge)—Mileage from
Bradford, Pa., to Simpson, Pa., 15 miles; Kinzua Junction to Rew City,
2 miles ; Rew City to Eldred, 12 miles ; Simpson to Smethport, 10 miles ;
total, 39 miles. Stock is $500,000, par of shares, $100. In Nov., 1885,
bondholders were asked to subscribe 5 per cent on their bonds to resume
$ 6,000,000.
payments. Gross earnings in 1884, $69,933; net, $2,973. John J.
Augustus Kountze, President; John P. Kennedy, Vice-President. For Carter, Titusville, Pa., Pres’t.—(V. 40, p. 569; V. 41, p. 653.)
year ending Sept. 30,1884, gross earnings were $464,970; net, $25,831. For year ending Sept. 30, 1885, gross earnings were $500,687;
B rad ford E ldred & Cuba.—Owns from Eldred, Pa., to Bolivar
operating expenses, $o25.481.
and Wellsville, N. Y „ and branch to Richburg, and Cuba to Little
For the half-year ending Dec. 31 the following statement was made:
Genesee, 54 miles. Stock, $480,000. There are also 2d mortgage bonds
1885.
1884.
for $60,000, 6s, which were due June 1, 1885. Foreclosure suit begun
Earnings.................................................. .........$299,369
$288,155 in February, 1885. Gross earnings in 1832-83, $91,527; net, $14,497;
Expenses........................................................... 240,393
282,194 gross in 1883-84. $96,495; deficit, $7,602. R. G. Taylor, President.
—(V. 40, p. 213; V. 41, p. 472; V. 42, p. 23, 60.)
Neteamings................................... .......... $58,976
$5,960
—(V. 40, p. 241, 588, 716; V. 41, p. 215, 216, 2 7 2 , 586; V.42,p. 92,430.)
B ro o k ly n E levated.—Line of road from Fulton Ferry and Brook
B osto n & L o w e ll.—Owns from Boston to Lowell, 27 m.; branches - lyn Bridge via Broadway, «fee., to East New York, about 7 miles. This
Salem & Lowell, 17 miles; Lowell & Lawrence, 12 miles; others, 19 is the Brooklyn Elevated Railroad organized Oct., 1884, as successor to
miles; Middlesex Cent, and branch, 12 miles; leased—Nashua & Lowell, the Brooklyn Elevated Railway sold in foreclosure May 12,1884. The
15 miles ; Stony Brook RR., 13 miles ; Wilton RR., 15 miles ; Peter capital stock is $5,000,000; the second mortgage bears 3 per cent interest
borough Railroad, 10 miles ; Manchester & Keene RR., 29 miles ; Nashua till 1883 and 5 per cent thereafter. In Deo., 1885, the company adverActon & Bost. RR., 21 miles ; total leasea, 115 miles ; total operated, 190 tisea to take up the certificates with Central Trust Co. and issue the new
miles. Also operates B. Con. & Mon.. 186 miles, and No. of N. Hamp.. 83 certificates. The annual report was in the Chronicle of Jan. 19, 1886,.
miles. In April. 1885, assumed the management of the St. John, «fe Lake V. 42, p 59, and the following directors were elected for 1886: Henry
Champlain road, 132 miles; also has built the Bedford «fe Bellirica RR., 8 W. Putnam, Henry W. Putnam, Jr., Edward Lauterbach, Frederick Uhlmiles. The Lowell «fe Lawrence and Salem < Lowell railroads were pur mann, Hugo Rothschild. A. J. Hardenbergh, Leonard Lewisohn, A dolf
fe
chased and consolidated in 1879, and the Middlesex central in 1883, Ladenburg, Elbert Snedeker, Stephen Pettus and Isaac Lewis, Henry
the Boston < Lowell assuming theh bonds.
&
W. Putnam, President. (V. 41, p. 101, 744; V. 42, p. 59.)
In June, 1884, a lease of the North, of New Hamp. and the Bost. Con.
< Montreal railroads was voted on the terms stated in V. 38, p. 705, and
&
B r o o k ly n & M o n ta u k .—Brooklyn to Eastport, L. I., 71 miles ;
control of those roads was then assumed; but suits were commenced by branches to Fresh Pond Junction, 2 miles; to Rockaway, 9 miles
some of the stockholders to have the leases annulled. In Jan., 1885, total, 82 miles. This was first the South Side Railroad of Long
purchase of an interest in Manch. «fe Keene RR. was voted and $500,000 Island, which was foreclosed Sept. 16, 1874, and reorganized as the
bonds authorized for the purpose. The company had notes outstanding Southern of Long Island. On June 3,1879, the property was again sold
Sept. 30,1885, amounting to $375,390. Earnings, etc., have been as fol in foreclosure of the second mortgage, and this company organized.
lows:
The preferred stock has a preference of 7 per cent, not cumulative. It
Gross
Net
-Payments--------------- is leased to the Long Island Railroad for 50 years at 25 per cent of the
Years. Miles. Receipts. Receipts.
Rentals.
Int. < mise.Div.,p.e. net earnings of the whole Long Island RR. system, including, its leased
fe
1881- 82.140 $2,085,622 $675,345 $154,808
4*3 lines. No rental has been reported as paid, and no public reports are$345,105
1882- 83.140
2.128,761
735,302
128,613
358,509
5ia issued. The new mortgage for $1,000,000 was to take up the first, and
1883- 84. ..
2,864,127
941,463
323,406
403,490
5*fi balance issued lor extension to Moriches; it is guaranteed by L. I. R R .
4,037,430 1,250,801
1884- 85.639
702,543
6
as to interest on $750,000, and both principal and interest on the $250,263,2181
—(Y. 40, p. 60, 453 ; Y. 41, p. 160, 355, 5 8 4 , 653 ; V. 42, p. 60.)
000. A. Corbin, President, Daniel Lord, Secretary, New York City.
«o
RAILROAD
STOCKS AND
BORDS.
[Y o l
XUI
Subscribers w ill confer a great favor by givin g im m ediate notice o f any error discovered in these Tables.
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or
Amount Rate per When Where Payable, and by pal,When Due.
Par
of
For explanation of column headings, &c., see notes
Stocks—Last
of
Whom.
Dividend.
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable
B'klyn d M.-( Cont’d)-New M. ($1,000,000), gu.L.I.,g
k
Brunsuñck & Western—1st mortg. (for $3,500,000).
Buif.Brad.dk Pitts.—Gen. M.Jincl. 10,000 ac. I’d)___
Buffalo New York d Erie—Stock...............................
k
First mortgage............................................................
Buffalo N. Y. d Philadelphia—Stock, common.......
k
Stock, preferred........................................................
1st mortgage, gold....................................................
2d mortgage, gold......................................................
Consol, 1st mortgage, gold.......................................
Trust mort., gold (secured by collaterals).............
General mortgage (for $24,500,000).....................
Buff. Pitts. & W., M. bds (for $7,500,000cou p .)....
do
1st mort. (W. < F. R R .)...............
&
do
1st M. (Oil Cr. RR.) renew’d, ’82..
do
1st mort. (Un. < Titusv. RR.)___
fc
do
Consol, mort. (Pitts. T. & B .)___
Income bonds for funded coupons..........................
Car trusts, principal and interest..........................
Buffalo Rochester d Pittsburg.—1st m ortgage........
k
Consol, mortgage............. .........................................
Income mortgage.......................................................
Equipment bonds (car trust) in 3 series................
Buffalo d Southwestern.—Stock (one-half of it pref.)
k
1st mortgage bonds, g o ld .........................................
Burlington O. Rapids d Northern—Stock...................
k
1st m ortgage..............................................................
Iowa City & Western, 1st mortgage, gold, guar..
Ced. Rap. I F.«fe N.W., 1st M., g., guar.,red.aft.’90
do
1st M., gold, guar.........................
Consol. 1st mort. & collat. trust, gold, coup. < reg.
&
California Pacific—1st mortgage, gold.....................
2d mortgage, endorsed by Central Pacific............:
85
171
26
142
140
669
669
121
121
205
Áii.
274
50
38
25
120
108
258
67
67
713
369
73
55
177
All
114
114
$1,000
500&C.
1,000
i 100
1,000
50
50
500 &c.
500 &o.
1,000
1,000
1,000
1,000
1,000
1,000
500 &c.
100 &o.
$250,000
2.000,000
580,000
950,000
2,380,000
1876
13,750,000
6,568,650
3,000,000
1871
1,000.000
1878
6,999,000
1881
1882
2,748,000
1884
3,200,000
4.061.000
1881
1.500.000
1865
573,000
1862
500.000
1870
866.000
1876
622,625
1,821,860
1,000
1,300,000
1881
1,000
1882
3,681,000
1,000
478,000
1881
1,000
711,000
Var’s
943,666
1,000
1,500,000
1877
100
5,500,000
6,500,000
1876 100 &c.
1,000
584,000
1879
1,000
825,000
1880
1,000
1,905,000
1881
1884 l.OOO&c 4,666,000
1,000
2,250,000
1867
1,600,000
1,000
1871
1881
1883
B r u n s w ic k Sc W e ste rn .—From Brunswick to Albany, 171 miles,
and 83 miles projected to Columbus, Ga. This was formerly the Bruns
wick & Albany, and the present company has $3,500,000 pref. stock,
and $1,500,000 common. Mr. Fred. Wolffe in New York and a syndi
cate in Frankfort were most heavily interested. Gross earnings in 1884,
$308,098 ; net, $19,764. In 1883, gross, $338,824; net, $107,974. J.
D. Davis, President, Albany, Ga. (V. 41, p. 419.)
B u ffa lo B rad ford Sc P ittsb u rg .—Owns from Carrollton, N. Y.
to Gilesville, Pa., 26 miles. Completed in 1866, and leased to New
York Lake Erie < Western for 499 years. Rental, 7 per cent on out
fe
standing bonds, $40,600 a year. Capital stock, $2,286,400.
B u ffalo N ew Y o rk Sc E rie.—Owns from Buffalo, N. Y., to Cor
ning, N. Y., 142 miles. Leased in 1863 to the New York & Erie for
400 years, and now operated by the N. Y. Lake Erie & West. Co. Rental,
$238,100—viz., 7 per cent on stock and bonds^and $5,000 for organiza
tion expenses. Dividends and interest paid directly by the lessees.
B u ffa lo N ew Y o r k Sc P h ila d e lp h ia .—A consolidation in
February, 1883, of the Buffalo N. Y. & Philadelphia, the Buffalo Pitts
burg & West., Oil City & Chicago and Olean & Salamanaca, Mileage as
follows: Buffalo Division—Buffalo, N. Y.. to Emporium, Pa., 121 miles,
Larabees, Pa., to Clermont, Pa., 22; Pittsburg Division—Buffalo, N. Y.,
to Oil City, Pa., 138; Titusville, Pa., to Pioneer. Pa., 9; Mayville, N. Y.,
to Chautauqua, N. Y., 3*a; Oil City to New Castle, Pa., 182; Tryonville
to Union City, 16 miles. Rochester Division—Rochester, N. Y., to Hins
dale, N. Y., 99; Olean, N. Y., to Bradford, Pa., 26; Bradford, Pa., to
Kinzua, Pa., 26; Eldred to Tarport, 18 miles; Genessee Valley Ter. RR.,
2 miles; total operated, 663 miles, of which 40 miles are leased. The
Swain’s Br., 11 miles, owned by B. N. Y. & P., is leased to L. & P. RR.
The consol, mort. is for $11,000,000, of which $4,000,000 is reserved
for prior liens, and it covers 205 miles of new road and the old 121 miles,
and 16,000 acres of coal lands owned by the Buffalo Coal Co. The trust
bonds due in 1923 are secured by $500,000 first mort. bonds of the
Genessee Valley Terminal Co., $700,000 of the first mort. bonds of the
Olean < Salamanca RR., $1,600,000 first mort. bonds of the Oil City <
&
fc
Chicago RR. and $300,000 mort. bonds of the No. West. Coal & Iron Co.
In 1884 the earnings proved insufficient to meet interest, and, begin
ning with coupons due Aug.’- l, 1884, the holders of eadh class of bonds
junior to the B. N. Y. & P. 2ds were to take, for three years, three per
cent in cash and the balance „in non-interest-bearing scrip, convertible
into six per cent income bonds. This was not successful, and a receiver
was subsequently appointed and foreclosure suits were begun.
In E
’eb., 1886, another plan was issued (see Chronicle, V. 42, p. 242)
by which foreclosure would be made and $10,000,000 new first mortg.
bonds issued, of which $6,073,000 would be reserved for the several
issues of old first mortgages, and the B. N. Y. < P. 2d mortg., the bal
fc
ance for re-organization expenses and for future use. A 2d mortg. for
$20,000,000, mterest payable in cash, or in cash and scrip, to be issued
for all other bonds on certain terms; and $30,000,000 to be the author
ized issue of new common stock. The old stock to pay an assessment
of 8 per cent on the preferred and 12 per cent on the common, each
receiving the new 2d mortg. bonds for the assessment paid, and share
for share in the new stock.
The annual report for the year ending Sept. 30, ’85, was in the Chron
icle , V. 42, p. 91, and contained the following income account.
Receipts—
1883-84.
1884-85.
Net earnings...............
$526,933
$154,847
Rentals and interest..........................................
42,300
57,924
Total income................................................. $569,233
$512,771
Disbursements—
Interest on bonds.................................................$1,275,935
$894,610
Other interest, &o..............................................
130,751
172.833
$1,067,443
Total disbursements..................................... $1,406,686
Balance.................
def.837,453
def.554,672
For three months, from Oct. 1 to Dec. 31, in 1885. gross earnings
were $656,206, against $609,928 in 1884; net. $177,700, against
$172,363; deficiency under interest, taxes and rentals, $382 in 1885,
against deficiency of $112,099 in 1884.
—(V.40, p. 5 9 , 150, 213, 303,305, 393, 624. 684, 715: V. 41, p. 132,
189, 215, 419, 438, 472, 496, 558, 653, 738; V. 42. p. 9 1 , 93, 155,187
214, 242, 303, 393, 462.)
’
B u ffa lo R o ch ester Sc P ittsb u rg .—Owns from Rochester, N. Y.,
southward to Punxutawney in Pa., 204 miles (except 36 miles of this
leased); and Buffalo Branch from Ashford June, to Buffalo, 44 miles;
total, 248 miles. Leased, 46 miles. Total operated, 294 miles.
This company was formed in Oot., 1885 (though the organization in
N. . and Pa. will not be perfected till Feb., 1886), as successor of the
Rochester & Pittsburg, sold in foreclosure Oct. 16 and purchased by Mr.
A. Iselin. The first directors were Adrian Iselin, Adrian Iselin, Jr., Wal
ston H. Brown, Alfred Roosevelt, Frederick D. Tappen, F. O. French,
August Richard, Frederick A. Brown, John G. Nazen, W. H. Peckham,
of New Y ork; Geo. W. Parsons, Tarrytown; J. H. Hooart, Brooklyn;
Alex. H. Stevens, Lawrence. See V. 41, p. 446, 496, 516.
The preferred stock of the new company will be $6,000,000 and
common stock, $6,000,000.
For the quarter ending Deo. 31, gross earnings were $344,284 in 1885,
against $311,947 in 1884; net, $102,882, against $109,315; deficit
under interest, taxes and rentals, $5,351, against $55,138.
The earnings of the R. & P. for the years ending Sept. 30 were as follows:
6 g. M. &
J. &
6
J. &
7
J. &
J. &
7
S. N. Y., Corbin Banx’g Co. Mar. 1, 1911
J.
None ever paia.
Jan. 1, 1913
J. N. Y. L. Erie < W. RR. Jan. 1, 1896
&
D. N. Y. L. Erie < W. RR. Deo. 1, 1885
&
D.
do
do
Dec. 1, 1916
lifl
Q .-M .
J. & J.
Q .-M .
J. & J.
M. & N.
M. & S.
A. & O.
F. «e A.
f
A. < 0.
&
J. < J.
fe
F. « A.
&
6
6
6
7
2
6 g-
F. < A. N. Y., Union Trust Co.
&
Feb. 1, 1921
J. «fe D.
do
do
Dec. 1, 1922
do
do
1921
Various N. Y., Union Trust Co.
Various.
Oct. 1, 1885
J. «eD. N. Y. L. Erie < W. RR. July 1, 1908
f
&
5
7
6
5
5
7
6
J.
M.
A.
A.
A.
J.
J.
6
7
6
6
6
6
7
6
7
7
g.
g.
gg.
g.
g.
g.
g.
g.
gg.
g.
Phila.or N.Y.,Co.’sOffioe
Coup.due J’ly pd.in Oct.
Last paid, Sept., ’85.
*2 paid in cash Jan., ’85
Lj paid in cash Nov., ’84
*2 paid in cash Mar., ’85
*2 paid in cash Apr., ’85
Aug.coup.pd.by Ph.«fe E.
Oct. coup, paid in Dec.
3 paid in cash Jan., ’85
3 paid in cash Feb., ’85
Dec. 26, 1883
July 1, 1896
Dec. 1, 1908
July 1, 1921
May, 1, 1923
Mch. 1. 1924
April 1, 1921
Feb. 1, 1896
Apr. 1, 1912
July 2, 1890
Feb. 1, 1896
«eD. N. Y., Central Trust Co. June 1. 1906
f
<c S.
f
do
do
Sept. 1, 1909
<e O.
f
do
do
Oot. 1, 1920
«fe 0.
do
do
< O.
fc
do
do
< J. N.Y.,Eugene Kellv < Co
fc
fe
«fe J. N. Y., Nat’l Park Banx.
Oct. 1. 1921
April 1 ,1934
Jan. 1, 1887
Jan. 1, 1891
1834-5.
1883-4.
$1,216.679
$1,069,933
Gross earnings................... ................
Operat’g expenses (not incl’g taxes). (69 8 % 849,214 (73-92 % 790,965
)
\
$367.455
$278,968
Net earnings..................................
—(V. 40, p. 29,241, 543,588, 626, 764; V. 41, p. 103, 273, 331, 421, 446,
496, 516, 557, 586, 722; V. 42, p. 243, 393.)
B uffalo Sc S o u th w estern .—
Owns from Buffalo to Jamestown,
N. Y., 67 miles. Formerly the Buffalo & Jamestown; reorganized
in 1877, after foreclosure. In July, 1880, leased to New York Lake
Erie & Western for 99 vears—at 35 per cent of gross earnings, but
interest on bonds guaranteed. Rental in 1884-85, $101,824. In January,
1885, the lessee made default in payment uuder the lease, and suit was
brought, but settlement was afterward reported and 2 par oent dividend
declared. (V. 40. p. 60.)
B u rlin g to n Cedar R apids Sc N orth ern .—On Jan. 1, ’85, oper
ated from Burlington, Iowa to Albert Lea, Minn, (including 11 miles
leased), 253 miles; branches—Linn, la., to Postville, la., 94 miles; Mus
catine, la , to Riverside, la., 31 miles; Vinton, la., to Holland, la., 48
miles; Iowa City to What Cheer and to Montezuma, 73 miles; Clinton
Division, 81 miles; Deoorah Division, 23 miles; Iowa Falls Division,
387 miles; total operated, 990 miles. The former company was organ
ized as the Burlington Cedar Rapids & Minn., June 30,1868. Defaulted
Nov. 1,1873. Property sola under forecloure June 22,1876, and this
company was formed by the purchasers. In May, 1885, a decision was
obtained by the holders of old equipment and 2d mortgage bonds of
1874, in the case of Simmons against this company, holding those bonds
to be good against the road, and giving defendants the right to redeem
the property on payment of amount found to be due, which is said to be
about $ 1,000,000. The case was appealed.
Bonds of the Cedar Rapids Iowa Falls & Northwestern road are en
dorsed (endorsement is on the bonds); the 6 per cent bonds are redeem
able at 105 after Oct. 1,1890. Of the 5 per cents $825,000 are reserved
to retire the 6 per cents. The company guarantees the above bonds
mentioned, and also guarantees $150,000 of Minneap. < St. Louis bonds.
&
In April, 1884, for the purpose of issuing additional bonds for exten
sions, the limit of authorized capital stock was raised to $30.000,000.
The consolidated bonds are dated April 1,1884, and issued at $15,000 per
mile to build new road, and secured by first mortgage bonds on the
roads built, deposited with the trustee of this moitgage. The new
roads built to Deo. 31,1884, were the Cedar Rapids & Clinton, 82 miles,
$1,200,000 bonds; Chicago Decorah & Minnesota, 23 miles, $348,000
bonds; and the Cedar Rapids Iowa Falls & Northwestern, Minnesota and
Dakota Division, 386 miles, $3,063,000 bonds.
The annual report for 1884 as published in the C h r o n i c l e , V.
40, p. 538, said: “ The number of miles of road owned and leased by the
company at the beginning of the year, including all branches, was
713 5-10 miles. Total number of miies added during the year, 277-12 ;
total number of miles operated by the company on Dec. 31, 1884,
990-56; average mileage operated during th e year. 774.
“ The extensions of the several lines were not completed in time to add
materially to the earnings of the year. The failure of the crops along
our lines in 1882 and 1883 depressed our looal business. Yet the ton
nage carried in 1884 exceeded by 131,542 tons the amount carried in
1883. But this increase being entirely on through business, and carried
at lesser rates, failed to keep the earnings up to those of 1883.”
For two months from Jan. 1 to Feb. 28, gross earnings were $385,111
in 1886. against $426,256 in 1885; net, $80,468 in 1886. agaiDst
$92,364 in 1885.
For 1885, gross earnings were $3,093,514; net, $903,972,
For 1884 the annual report in V .40, p. 538, gave net income, &o.,
for four years as follow s:
FISCAL RESULTS.
Miles operated........
Namings—
Passenger................
Freight.....................
Mail, express, «fee . . .
1881.
644
$
422,014
1,782,521
54,501
1882.
713
$
639,506
2,092,679
68,497
1883.
713
$
654,746
2.117.949
99,859
1884.
990
$
666,922
2,024,175
105.362
Tot. gross earnings
Op’ng expen’s < txs
fc
Net earnings............
P.c. op. ex. to earn’s.
2,259,036
1,626,850
632,186
72-01
2,800,682
1.883.661
917.001
67-25
2.863.551
1,96s.177
a95.3 «7
68-7
2,796.459
1.917,769
878,690
68-5
INCOME ACCOUNT.
1884.
1882.
1883.
Receipts—
$
$
$
876.690
895,378
917,001
Net earnings............
48,596
31,108
78.057
Other receipts.........
909,798
943,974
Total income.............
995,058
Disbursements—
573,663
424,562
516,130
Interest on debt........
484,624
198,270
71,965
Const’n < improvem’t
fe
i
385,845 ]>
84,634
368,502 1
280,459
Equipment................
13.583
22,396
37,725 j\
Other expenditures..
658,297
939,709
Tot. disbursem’ts
916,874
947,487
Balance..................... def. 225,498 sur. 47,571 sur. 4.274 sur.251,501
- ( V . 40, p. 150,181,183, 281, 5 3 8 ; V. 42, p. 60.)
C alifornia Pacifie.—Owns from South Vallejo, Cal., to Sacramento,
Cal., 61 miles ; branches—Adelante to Calistoga, 35 miles; Doer’s to
1881.
•$
632,186
59,190
691,376
A p r il ,
1886. i
llAILROAD
STOCKS AND
BONDS,
« 1
Subscribers w ill confer a great fa v or b y g iv in g im m ediate notice o f a n y error discovered In these T a bles.
J ututs—PrmciS
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount Rate per When Where Payable, and by pal.When Due.
of
of
For explanation of column headings, «fee., see notes
Par
Stocks—Last
Road. Bonds Value. Outstanding Cent. Payable
Whom.
on first page of tables.
Dividend.
Qal.Pac.-(Oont’d)-3d, gu. by C.P.($1,000,000 are 3s) 114 1875
132 1836
California South—New mort. ($10,000 per mile)—
1886
Income bonds.............................................................
....
78
Camden & Atlantic—Stock ($880,650 of it pref.)....
78 1853
1st mortgage (extended 20 years in 1873)............
1854
2d mortgage, extended in 1879...............................
1881
Consol, mortgage (thirty years).............................
31 1867
Camden < Burlington Co.—1st mortgage............... £
....
Canada Southern—Stock............................................. 404
1st mort., interest guar, by N. Y. C. < Hud. R iv.. 404 1878
fc
404 1883
2d mortgage, coup, or reg........................................
Canadian Pacific—Stock (guar. 3 p. c. div. till ’93). 1,730
....
Canada Central RR. 1st & 2d mort. bonds...........
....
Quebec Province due on Q. M. O. < O. R R ...........
fc
Land mortgage bonds, gold (reüeemabie at ilO )..
1881
1st mort. debent, sterling......................................... ÄÜ. 1885
Dominion Government loan.....................................
Carolina Central—1st mortgage, gold, coup, or reg. 242 1881
242 1881
2d mort., gold, income, reg., not cumulative........
3d mort., gold, income, reg., not cumulative........
158 1881
Carson < Colorado—1st mortgage.............................. 158 1881
&
Second Division mort................................................ 433« 1883
0 atawissa—Common stock..........................................
98
New preferred stock.................................................
98
Old preferred stock....................................................
98
1882
1st mortgage............................................................ .
93 1870
Mortgage bonds.........................................................
Cayuga «6 Susquehanna^-Stock..................................
34
Cedar Falls dt Minn.—B o-dson 1st div., extended.
14 1864
Bonds on 2d division, sr .big fund....................... .
61 1866
Central Branch Onion Pacific—IsX mort., g o ld _
_
100 1866
Funded interest bonds (coupons held in trust). ..
1879
2d mortgage (Government subsidy)........................ 100 ’66-7-8
$500
1,000
1,000
50
1,000
1,000
1,000
500<fec100
1,000
l,000«Seo
100
500 &c.
£100 «fco
1,000
1,000
1.000
1,000
1,000
50
50
50
500 «fee.
100
500 «fee.
500 «fee.
1,000
1,000
1,000
$3.000,000
3 &6
6
(?)
4,000,000
1,258,050 7 on pref
490.000
- 497,000
6
350.000
6
350,000
2
15,000,000
5
13,756,429
5
6,000,000
65,000,000
l^fl
6
1,823,333
5
3.500.000
3.688.000
35.000,000
29,880,000
1,800,000
1,200,000
6
1,500,000
6
2,250,000
6
510,000
1,159,500
1,000,000
2,200,000
230,500
1,300,000
589,110
30,000
1,377,000
1,600,000
630,000
1.600.000
J. & J. N. Y., Cent. Pacific RR. July, 1905
J. & J.
Boston.
Jan 1, 1922
Feb. 1, 1884
Jan., 1893
Oct., 1, 1904
do
do
July 1, 1911
Phila« Penn. RR. Co.
1897
N. Y., Grand Cen. Dep. Feb. 1, 1884
N. Y., Union Trust Co. Jan. 1, 1908
do
do
Mar. 1, 1913
N. Y., 63 William St.
Feb. 17, 1886
Camden, Co.’s Office.
M.
I e J. & O. Phila., Farm. &do B’k.
- A. & J.
do
J. & J.
P. & A.
P. & A.
J. & J.
M. & S.
F. & A.
A. '&’o. Montreal ,Ñ. Y. orLondon Oct. 1, 1931
J. & J. London, Baring B. & Co. July 1, 1915
J.
lj.
A.
J.
J.
& J. N.Y., Farmers’L.«fe T.Co. April 1, 1920
New York, Office,
July 1, 1915
& J.
< O.
fc
July 1, 1910
do
do
& J.
July, 1911
& J.
M. & N. Philadelphia Co.’s office
M. & N.
do
Phila., Phila. « sRead. Co.
S
F.
A.
do
do
J. & J. New York, 44 South st.
A. & O. N.Y., J. Ken. Tod <s Co.
S
J. « s J.
S
do
do
M. & N. N. Y., 195 Broadway.
M. « s N.
S
do
do
U.S. Treas., at maturity.
Nov. 15, 1885
Nov. 15, 1885
Feb. 1, 1902
Feb. 1, 1900
Jan. 1, 1886
1886 to 1889
Jan. 2, 1907
May 1, 1895
May 1, 1895
1 896.’97, >98
Knight’s Landing, 19 miles; total operated, 113 miles. Consolidation for ten years on $65,000,000 of the stock outstanding. In February,
(Dec. 23,1869) o f California Pac. and California Pacific Extension com' 1884, the Dominion Government modified its agreements and loaned
panies. Leased for 29 years, from July 1,1876, to Central Pac. Rental, the, company $22,500,000, taking a lien upon the railroad and lands of
$600,000 per annum, and three fourths of net earnings when in excess the company, subject to the prior liens, In May, 1885, a further modi
of that amount. Capital stock, $12,000,000. Extension bonds of fication was made by which that lien was given up, and the $35,000,000
$3,500,000 and incomes of $1,000,000 were in default, and the new stock was canceled and mortgage bonds for $35,000,000 created. The
bonds of 1875, guaranteed by Central Pacific, were issued in place Government' held $20,000,000 of these for its loans as part security,
and for the balance of $9,880,912 held a lien on the lands (subject
thereof. R. P. Hammond, President, San Francisco.
only to the land grant bonds), and this loan, principal and interest, was
p ayable only out of the proceeds of land sales. But in April, 1886, a
C aliforn ia Sou th ern .—(-See map Atch. Top. & S. F.) From further settlement was made with the Government, intended to dis
National City to Colton and San Bernardino, Cal., 132 miles, was opened charge all the company’s obligations. The Canadian Pacific Railway Co.
in 1882, but defaulted on first mortgage interest due July 1,1884. In arranged with Baring Bros., of London, for the purchase of the re
October, 1884, an arrangement was made with Atchison Topeka & Santa maining $20.000,000 ofibonds, the proceeds of which were to be applied
Fe RR. Co., by which old first mortgage oonds were to be exchanged for to paying off a part of the indebtedness of the company to the Govern
income bonds, and a new mortgage of $10,000 per mile put on the whole ment, while the balance of $9,000,000 was to be liquidated by trans
road, including a new section built to Waterman, on the Mojave Div ferring about seven million acres of land belonging to the original grant
ision of the At. & P., and completed about Nov., 1885. (V. 41, p. 241, of 25,000,000.
556; V. 42, p. 242, 338.)
There are deposited with the Government $13,996,000 of the land
rant bonds (not drawing interest), and there are outstanding less than
Cam den Sc A tla n tic .—Owns from Camden, N. J., to Atlantic
4,000,000, against which are deferred payments on lands sold amount
City, 60 miles; Atlantic City to Longport, 7 miles; Phil. Marl. « t ing to $2,078,286. The bonds are receivable for lands and may be
S
Med. RR.; Haddonfleld to Medford, 12 miles; total operated, 79 miles. drawn and paid offiat 110.
Pref. stock, entitled to 7 per cent if earned, and to as high as paid to com.
Gross earnings for two months from January 1, 1886, $985,815,
if more than 7. On main line and branches in 1885, gross earnings were against $824,341 in 1885 ; net, $116,093, against $151,129.
$561,347; net, $134.143 ; in 1884, gross, $556,695; net, $85,639.
Gross earnings in 1884, $5,750,521 ; net, $1,191, 891. Gross in 1885,
$8,368,493; net, $3,225,216. See annual report in V. 40, p. 740.
V.
C am den & B u rlin g to n C ou n ty.—Owns from Camden, N. J., —(V. 40, p. 150, 181, 240. 269, 363. 393, 54ft. 624, 651, 74 0, 763; 60,
41, p. 22,101,132, 272, 355, 391, 445, 472, 527, 556, 653; V. 42, p.
to Pemberton, N. J., 23 miles; branch, Burlington, N. J., to Mount 462, 487.)
Holly, 7 miles; total, 30 miles. Leased to Camden & Amboy Railroad
Co., and now operated by the Pennsylvania Railroad Company, lessees
C arolina C entral.—Owns from Wilmington, N. C., to Shelby, N. O.
of United Railroad & Canal Company’s lines. Lease rental, $44,415,
fc
being 6 per cent on stock and bonds, and $500 for organization ex 242 miles. Formerly Wilmington Char < Rutherford, chartered in
1855. Succeeded by existing company after foreclosure May 3, 1873.
penses. Capital stock $381,925 and funded debt $350,000. Dividends
Defaulted, and receiver placed in possession April 5,1876. Sold in fore
in January and July. Gross earnings in 1885, $199,979; net, $71,340.
closure May 31, 1880, for $1,200,000.
In 1882-83, gross earnings,
$596,328 ; net, $168,471; in 1883-84, $555,275; net, $64,298; in 1884-5,
Canada Sou th ern .—L ike of R oad—Main line from International gross, $528,122; net, $71,721. Wilmington Bridge bonds, $295,000,
Bridge to Windsor, Ont., 226 m.; branch, Amherstburg to Essex Centre, at 7 per cent, are guaranteed by this company and interest paid. The
16 nules; Fort Erie Br., 17 miles; Oil Springs Br., 3 miles; St. Thomas, stock of $1,200,000 was placed for five years from Nov. 1, 1879, in tha
Ont., to Courtright, Ont., 63 miles; Erie & Niagara, 31; Sarnia Chatham & hands of tfie reorganization committee, but is now ali issued to 2d mow*
Erie, 7; Canada Southern Bridge < Ferry, 4 ; Toledo Canada Southern < gage bondholders. (V. 40, p. 684 ; V. 41, p. 419.)
fe
fc
Detroit, 56, and Michigan Midland & Canada, 15; total of all lines
operated, 404 miles, of which 105 miles are nominally owned by proprie
Carson Sc C olorado.—(3 foot gauge.)—From Mound House Nev., to
tary companies under separate organizations.
Candelaria, Nev., 158 miles; Junction to Keeler, Cal., 141 m iles;
The Company, A lliances, «fee.—1 he corporation was chartered in total 299 miles. Road follows the valleys along eastern side of Sierra
T
Canada Feb. 28,1868, and the main line opened Nov. 15,1873. Default Nevada Mountains and may eventually join Southern Pacific at Mojave.
was made, and a reorganization forming the existing company was Stock, $6,380,040 authorized ; $2,760,000 issued. Gross earnings in
completed in 1878. Interest on the 1st mort. is guaranteed by the New 1883, $441,994 ; net, $196,308. H. M. Yerington, Pres’t, Carson. Nev.
York Central Railroad Co. for 20 years; but the principal is not guar
anteed. In Nov., 1882, a close contract was made with the Michigan
C a ta w ls s a .—Owns from Tamanend, Pa., to Williamsport, Pa., 94
Central for 21 years from Jan. 1,1883, providing for the operation
of the Canada Southern by the Michigan Central, also for the placing of miles; branch, Summit Station to Silver Brook, 4 miles; total operated,
fe
the total earnings of both roads in a common treasury, out of which is to 98 miles. Leased from Nov. 1,1872, for 999 years to Philadelphia <
be paid, first, the operating expenses of both roads; second, the fixed Reading. Rental, 30 per cent of gross earnings and $8,000 a year for
charges of both; third, the division of the remainder between the two, company expenses. Funded debt is also assumed by lessees. Seven per
in the rate of two-thirds to the Michigan Central and one-third to the cent is guaranteed on the preferred stocks.
Canada Southern; fourth, for the raising of $6,000,000 by a 2d mort.
on the Canada Southern to double-track its line, to build a bridge over
C a y u g a St S u s q u e h a n n a .—Owns from Susquehanna River to
Niagara River, and for other extensions and improvements.
Ithaca, N. Y., 34 miles. Leased in perpetuity to Delaware Lackawanna
&
For the year 1884 the income account of the combined companies was < Western at a rental of $54,600 a year. Dividends on capital, 9 per
in the annuaLreport, V. 40, p. 566, and after paying fixed charges the cent per annum.
surplus due Canada Southern applicable to dividends was $20,448,
against $611,57 Lin 1883. The bills payable (loans) Dec. 31,1884, were
Cedar F a lls Sc M in n eso ta .—Owns from Waterloo, la., to Minn.
$1,237,339. See Michigan Central for later returns. (V. 40, p .5 6 6 , State Line, 76 miles. Leased to Dubuque & Sioux City for 40 years
7 15,527; V. 42, p. 22.)
from January 1, 1867, at $1,500 per mile as a minimum and a con
tingent of 35 per cent of gross earnings from $3,500 to $7,500 per mile
Canadian Pacific.—( See Map.)—The whole road extends from ana of 30 per cent oi any excess over $7,500 per mile. The Dub. & S. C.
Montreal to Port Moody on the Pacific coast in British Columbia, (carrying this road) is leased to 111. Central till 1887, with option to the
2,895 miles,-with branches and leased lines of 1,100 miles, making a lessee of renewing. Capital stock, $1,586,500. All operations and
total of 3,995 miles in the whole system, when completed. Up to Nov. 1, earnings are included in Illinois Central reports. The minimum rental
1885, the whole line was practically finished, but through traffic could is $113,370 per annum. J. S. Kennedy, Pres’t, N. Y.
not begin before the spring of 1886.
In Nov., 1883, leases were made of the Ontario < Quebec system, in
fe
Central B ra n c h U n io n Pacific.—(SeeMap Mo. Pac.)—Owns from
cluding the Credit Valley Railway and Toronto Grey and Bruce, about Atchison, Kan., to Waterville, Kan., 100 miles; leased Atchison Col. <
&
590 miles in all, and the total rental is $739,500 per year, with bridge Pac. 254 miles ; Atch. J. Co. < W., 34 miles; total operated, 388 miles.
fe
facilities at Montreal. The leased lines give a road from Montreal via The Un. Pac. Cent. Branch was formerly the Atchison < Pike’s Peak RR.,
fe
Toronto to St, Thomas on the Canada Southern., and to Owen Sound on and was one of the roads embraced in the act of Congress incorporating
Georgian Bay, where connection is made by steamers with the com the Union Pacific RR. The stock is $1,000,000, or which the Union
pany’s western lines at Port Arthur.
Pacific holds about $858,700. The company received a Government
This company was incorporated February 18, 1881, under a charter subsidy of $1,600,000. Default on interest was made May 1,1873, b u t
from the Dominion of Canada. The company had an important con no foreclosure took place. It is operated as a part of the Missouri Paoifio
tract in its charter, receiving from the Government $25,000,000 in cash system under a 25 years lease, made Sept., 1885, by which the net earn
as a subsidy, also 25.000,000 acres of land, all fit for settlement The ings are paid to Union Pacific as rental. (See V. 41, p. 419.) Fiscal
Government also conveyed to the company, free of all cost, 713 miles of year ends Dec. 31. In 1884 gross earnings were $1,715,145; net,
road. The company also acquired 449 miles of road and branches $594,171; rentals paid, $287,375; interest on debt, $140,100; miscel
from Montreal west to Callendar, subject to $5,423,333 in liens on laneous, $5,709; surplus, $160,937. For seven months from Jan. 1 to
those roads.
July 31, 1885, gross earnings were $1,015,393, against $874,756 in
The authorized stock was $100,000,000, and in Nov., 1883, the Domin 1884; net, $394,039, against $270,376. (W. 41, p. 272, 391,419; V. 42 l
ion Government gave a guarantee of 3 per oent dividends per annum p. 350.)
§
RAILROAD
STOCKS AND
RONDS.
[Y ol . X L II.
RAILKOAD
A p r i l , 18b'6. J
STOCKS AND
23
BONDS.
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered in these T a bles.
Bonds—Prinoi
INTEREST OR DIVIDENDS.
________________ DESCRIPTION.________________
Miles Date Size, or
Amount Rate per When Where payable, and by pal, When Due.
Slocks—Last
of
of
par
For explanation of column headings, &c., see notes
Cent. Payable
Whom.
Dividend.
Road. Bonds Value. Outstanding
on first page of tables.
Central B. B. < Bank, Oa.—Stock............................ 730
&
620 1872
General mort. “ tripartite” bonds, coup.................
1881
Certificates of debt (for dividend)..........................
Ocean SS. Co., guar., 1st mortgage.........................
Central Iowa—1st mortgage........................................ 189 1879
1880
Debt certificates, issued for overdue coupons—
1st mortgage, gold, Eastern D ivision .................... 124 1882
95 1882
111. Division, 1st mortgage ($16,000 p. m ) . ..........
100 1882
1st mort. on branches ($12,000 per mile)..............
501 1884
Consolidated mort., gold (for $6,748,000).............
Car trust certificates.................................................
Central Massachusetts—Preferred stock.................... "48
48
Common stock ..........................................................
Central o f New Jersey—Stock.......... ......................... 573
74 1869
1st mortgage bonds..................................................
1872
Bonds (convertible Nov., 1875 to 1877)................
97 1874
Consolidated mortgage (for $25,000,000).............
7 1867
Newark & New York, 1st mortgage.............
- -.
1881
Am. Dock & Imp.Co. new M. bds., guar. C. of N. J.
1878
Adiustment mort. (redeemable any time at par)..
1883
Debenture bds., conv.into stock, Jan., ’85 to 1907
Central Ohio—($411,550 of this is preferred).......... 137
137
1st mortgage bonds............................*....................
Oentral Pacific—Stock..................................- ....... - - - - 3,003
1st mort., gold, (2 sinking funds, $50,000 each).. 742 1865-8
50 1864
Califor. State aid, gold (s. fund, $50,000) extend.
146 1870
lstm .S. Joaq’n Val. Br., gld(s.f. $50,000).............
742
U. S. Loan, (2d lien on certain terms)...................
Western Pacific, 1st mort., gold, (s. f. $25,000)... 158 1869
123 1869
do
Government lien............. - ..........
Cal. & Oregon, 1st M., gold, guar., (s. f. $100,000) 152 1868
Cent. Pac., mortgage, on C. & O. Branch............... 192 1872
20 1870
8an Fran. O. & A., 1st M. (s. i. $100.000).................
$100
1,000
100
50Ö&C.
500 &c.
1,000
1,000
1,000
1,000
100
1,000
1,000
1,000
500 &c.
1,000
100 &c.
1,000
50
1,000
100
1,000
1,000
1,000
1,000
1,000
1,000
1,000
Central o f Georgia (& B a n k .).-O w ns from Savannah, Ga., to
Atlanta, Ga., 295 miles; branch, Gordon to Milledgeville, 17 m iles;
leased—
Augusta & Savannah, 53 miles; Eatonton Branch Railroad,
22 miles; Southwestern Railroad and branches, 343 miles; total opera
ted, 730 miles; also takes net results of 170 miles more operated by
separate companies. In 1881 the lease of the Georgia RR. for 99 years
was taken in the interest of this company and the Louisville & Nashville,
which operate it on joint account. The certificates of debt were
issued, June, 1881, as a dividend to stockholders—$40 per share to Cen
tral Georgia and $32 per share to Southwestern. The company owns a
large interest in connecting lines and the Ocean Steamship Co. of
Savannah. This company and the Georgia Railroad Company are joint
owners of the Western Railroad of Alabama, purchased at foreclosure
sale in April, 1875. The “ tri-partite” bonds were issued jointly by this
company, the Macon & Western and the Southwestern.
The annual report for the year ending August 31,1885, was in the
Chronicle. Y. 41, p. 687. The income account was as follow s:
1882-83.
1883-84.
1884-85.
Gross in c o m e ..................... ..$4,977,807
$4,659,082
$3,911,407
Expenses..................................... 2,950,115
2,851,455
2,211,615
Net income.............................$2,027,692
.nterest, rentals and dividends. *1,982,517
$1,807,627
1,848,491
$1,699,792
1,776,369
Surplus $45,175 Def.$40,864 Def.$76,577
* Dividend in 1882-83, 8 per cent; in 1883-84, 6; in 1884-5, 5 p. o.
V. 41, p. 6 8 7 .)
C e n tr a l I o w a . —Owns from Albia, la., to Northwood, la., 189
miles; Muchakinock Branch, 2 miles; Grinnell & Montezuma Branch,
13 miles; Storey City Br., 35 miles; Newberg branch, 27 miles; Belmond branch, 22 miles; total old road, 288 miles. Eastern Division
to Mississippi River, 124 miles, and Illinois Division to Peoria, 89 miles.
Total, 501 miles. Bridge over Mississippi River at Keithsburg opened
Dec., 1885. Chartered as Central RR. of Iowa and opened in 1871.
Defaulted and placed in hands of a receiver in 1873. Reorganized under
present title June 18,1879, after foreclosure sale funder first mortgage
July 18,1877.
The stock is $8,076,600 common; 1st preferred, $871,500, and 2d pre
ferred, $1,078,300. First preferred has prior right to 7 per cent
(non-cumulative); then 2d preferred entitled to 7 per cent; any surplus,
after payment of 7 on common stock, to be divided pro rata between
the three classes.
In Oct., 1884, default was made in payment of interest; in Jan., 1885,
also, the coupons were partly purchased. A plan to convert the three
divisional bonds into consolidated (V. 40, p. 423), and fund certain
coupons, was not carried out in April, 1885, but iu October, 1885, the
same plan modified was brought forward, by which bonds would be
funded into consols, dollar for dollar, and coupons to be funded to June
1, 1886, inclusive, into said consol, bonds at 7 , and the coupons of new
consols stamped “ one-half paid ” up to Dec., 1887, the other half to be
paid in cash as it falls due.
The fiscal year ends Dec. 31. The income account was as follow s:
INCOME ACCOUNT.
Gross earnings...................
Net earnings.......................
Deduct—
Interest on b o n d s.............
Interest on car trusts.......
Miscellaneous...................
1883.
$1,392,587
$473,046
1884. "
$1,448,259
$409,800
1885.
$1,307,371
$323,894
$331,000
35,835
8,870
$421,795
30,600
14,603
$513,880
30,948
18,859
$375,705
$466,998
$563,687
Total.............................
Balance............................... Sur. $97,341 Def. $57,198 Def. $160,207
—(V. 40, p. 92,150, 240, 3 9 3 , 423; V. 41, p. 76, 241,272,391, 556, 611;
V. 42, p. 271.)
Central o f M assach u setts.—This company was organized Nov.
10,1883, by the bondholders who purchased the Massachusetts Central
at foreclosure sale Sept. 1, 1883. ijpad completed from Boston to Jeffer
son, Mass., 48 miles. It was embarrassed and operations discontinued;
but in July, 1885, a contract was made with the Boston & Lowell to
operate the road. (V. 40, p. 304, 481, 507; V. 41, p. 22, 76.)
Central o f N ew Jersey.—Owns from Jersey City, N. J., to Phillipsburg, N. J., 73 miles; branches, 30 miles; leased and operated,
in New Jersey, 269 miles, and in Pennsylvania, 201 miles; total
operated, 573 miles. The princinal leased lines in Pennsylvania are
the Lehigh & Susquehanna and the Lehigh & Lackawanna, with
their branches, &c. Under the lease of 1883 to Philadelphia & Reading
the minimum rental of Lehigh & Susquehanna is $1,414,400 per year
and maximum $1,728,700 till 1888; then $1,885,800 till 1893, and
after that $2,043,000. In February, 1877, the property was placed in
the hands of a receiver. A majority of the Lehigh & Wilkesbarre Coal
Company’s stock is held by Central of New Jersey, and of the
$11,500,000 Lehigh & Wilkesbarre Coal bonds, $6,116,000 are held'
by Central of New Jersey and receive interest after all other bonds
are satisfied. The American Dock & Improvement Company is vir
tually owned by the railroad company, and the right exists to
purchase the bonds by lot at 110. The adjustment bonds are payable at
will. The 6 per cent convertible debenture bonds run positively till
1908, and were issued Oct., 1883, partly in exchange for the old income
bonds; they bear interest positively, and not “ if earned.” On Feb.Jl,
1885, the first default was made in payment of mortgage coupons.
$7,500,000
5,000,000
4,600,000
987,000
3,700,000
629,000
1,515,000
1,520,000
1,200,000
(?) „
508,000
3,852,088
3,393,900
18,563,200
5,000,000
4,400,000
15,000,000
600,000
5,000,000
5,454,000
5,000,000
2,859,300
2,500,000
59,275,500
25,883,000
499,000
6,080,000
25,883,000
2,624,000
1,970,000
6,000,000
3,680,000
687.000
2
J. & D.
7
J. & J.
6
J. & J.
6
J. & J.
7
J. & J.
7
A. & O.
6 g. A. & O.
6
A. & O.
6
A. & O.
J. & D.
!* ■
1*3
7
7
7
7
5
7
6
3
6
3
6 g.
1 *
6 g.
6
6 g6
6 g.
6 g.
8
Savannah, Ga.
N.Y.,Nat. City Bk.&Sav.
Savannah, Ga.
New York.
N.Y., Mercantile Tr. Co.
do
do
Last paid April, 1884
Last paid April, 1884
Last paid April, 1884
New York, Agency.
Dec. 22,1885
Jan. 1, 1893
1891
Jan. 1, 1892
July 15,1899
3 mos. notice.
April 1, 1912
1912
1912
June 1,1924
Q.—M.
New York, at office.
F. & A. Last paid August, 1885
M. & N. Last paid Nov., 1885
Q .-J . Oct., 1885, pd in Deo.
J. & J. New York, at Office.
.........
J. & J.
M. & N. New York, at office.
M. & N. Last paid Nov., 1884
J. & J. Balt., at B. < O. office.
fc
M. & 8.
do
do
F. & A. N. Y. & San Francisco.
J. & J.
New York, Office.
J. & J.
do
do
A. & O.
do
do
J. & J.
U. S. Treasury.
J. & J.
New York, Office.
....
U. S. Treasury.
J. & J.
New York, Office.
J. & J. New York & London.
J. < J. N. Y.. Cent. Pac. Office.
fe
Sept. 1, 1884
1890
Nov., 1902
July 1. 1899
1887
July 1, 1921
May 1, 1903
M a y l, 1908
Jari. 30,1886
Sept.. 1890
Feb. 1,1884
1895 to ’98
July 1, 1888
Oct. 1, 1900
1895 to ’98
July 1, 1899
1899
Jan. 1, 1888
Jan. 1, 1892
July 1. 1890
On June 1, 1883, the road was leased for 99 years to the Phila. &
Reading RR. Co. at 6 per cent on stock and interest on bonds, but a
decision was rendered in Feb., 1886, holding this lease void. In the
fiscal years ending Nov. 30, 1884 and 1885, the P. & R. Co., lessee, re
ported gross receipts, net receipts, fixed charges, &e., on this road as
follow s:
1883-4.
1884-5.
Beceipts—
$5,309,129
$5,390,551
Coal traffic..............
2,476,673
Merchandise traffic
2,347,662
2,236,289
Passenger traffic. . .
2,150,372
419,002
Miscellaneous.........
411,881
Expenses
Net earnings..................
r
CFixed charges
Less rents j D ividends___
$ro,441,095
5,995,114
$10,300,466
5,699,200
$4,445,980
$4,806,420
1,113,792
$4,601,266
$4,825,851
1,113,792
$5,920,212
$5,939,643
Deficit for the year....................................... $1.474.231
$1,338,377
—(V. 40, p. 119,181, 270, 364, 393, 481, 569, 652, 716, 741; V. 41, p,
23, 50, 76,101,160,355, 391, 4 1 9 ,4 7 3 ; V. 42, p. 22, 186, 214, 303.
365, 393, 462, 479.)
C e n tra l O h io .—Owns from Bellaire, Ohio, to Columbus, Ohio
137 miles. Chartered in 1847 and opened in 1854. Reorganized in
1865. Leased to the Baltimore & Ohio, for 20 years, Nov. 11, 1866;
rental, 35 per cent of gross earnings. Feb. 23, 1880, the lease was
extended to Dec. 1,1926, with the option of renewing for terms of 20
years perpetually. In 1883-84 gross earnings, $1,169,773; net, $376,638; rental, $409,420. In 1884-85 gross earnings $1,060,166; net,
$195,856; rental, $371,058; loss for year, $75,202. The road between
Newark & Columbus (33 miles) is owned jointly with the Pittsb. Cin. &
St. Louis RR. Co.
C e n tr a l P a c if ic .—(See Map o f Southern Pacific.)—Line of R oad —
—Mainline—San Francisco, Cal., to Ogden,Utah, 883 miles, and auxil
iary lines, 371; total, 1,254 miles; oper. under lease or contract—the So.
Pac. in Cal., Ariz. and New Mex., 1,108; Cal. Pac., 115, North. RR., 154,
others,171; total, 1,394 miles; total length of road operated and accounted
for Jan. 1,1885, 2,802 miles. In connection with the Union Pacific, the
Central Pacific forms a continuous line from San Francisco, Cal., to
Council Bluffs, la. (1,918 miles), which was opened May 10,1869. The
Cal. & Oregon line is being extended northward to a junction with
Oregon & Cal. at the State line, and lacks about 100 miles of completion.
In March, 1885, it was announced that the Central Pacific lines had
been leased to the Southern Pacific Company, and that the previous lease
of the Southern Pacific Railroad to Cent. Pacific was relinguished to the
same company A minimum rental of $l,2o0,000 (payable annually on
May 1), is provided for by the lease, but this rental is first applicable to
the payment of Central Pacific floating debt, if any. The lease was not
submitted to stockholders for their confirmation or approval, and the
effect of the lease was to fix the control of Central Pacific without regard to
ownership of the stock (See abstract of lease, V. 40, p. 480.)
T he Charter , L eases, &c.—The C. P. was a consolidation (Aug. 22.
1870) of the Central Pacific (organized Oct. 8, 1864), California <
fc
Oregon, San Francisco & Oakland, San Francisco & Alameda and San
Joaquin Valley railroads. The act of Congress of July 1, 1862, granted
U. S. bond subsidies and lands to the Pacific railroads; the act of July,
1864, made the Hen of the Government subject to that of the first mort
gage bonds, but authorized the Government to withhold one-half the
charges for transportation on its account, and also to receive 5 per cent
of the net earnings; the “ Thurman” act Of May 8, 1878; directed that
the other one-half of charges for Government transportation should be
withheld, and also that the company should pay $1,200,000 yearly to
the Government for the sinking fund of its debt or as much thereof as
shall make the 5 per cent of net earnings, plus the whole transportation
account, equal 25 per cent of the whole net earnings for the year. The
leases are numerous and mostly for short dates, and the terms of each
in brief were stated in the Chronicle, V. 37, p. 47.
The lease of the Central Pacific was made as stated in the paragraph
above, and in July, 1885, an agreement for consolidation with Oregon
& California RR. by an exchange of stock and guaranty of O. & C.
bonds was made. (See Ore. & Cal.)
Stock and B onds.—Prior to the current year the following dividends
were paid, viz.: In 1877, 8 per cent; 1880, 6 per ce n t; 1881, 6 ; 1882, 6 ;
1883, 6 ; in 1884, 3 ; in 1885, nil. Prices of stock since 1879 have been:
In 1880,63®97*2; in 18Si. 80*3®10278 ; in 1882,823s®97*8; in 1883;
61@88; in 1884, 3 0 ® 6 7 ^ ; in 1885, 26*3349; in 1886, to April 16,
33®443i. Most of the issues of bonds have sinking' funds, as seen
in the table above, but these sinking funds are invested mainly in the
Pacific (of Arizona Southern and New Mexico) bonds, and accumulate;
and the bonds are not called in.
The company’s sinking funds amounted Jan. 10,1885, to $7,058,544,
nearly all invested in the Southern Pacific bonds of Arizona and New
Mexico and other dependent lines of the Southern Pacific. The land
grant bonds are retired with proceeds of land sales.
The debenture bonds of 1885 may be converted into Central Paoiflo
stock at anytime up to 1893, at the marketvalueof the stock at the time
of surrender; but no stock will be issued at less than 50 per cent.
The L and Grant .—The total land granted the Central Pacific and the
C alifomia & Oregon companies was about 12,000,000 acres, of which
RAILROAD STOCKS AND BONDS,
2 4
[V ol . XLIL
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered in these T ables.
DESCRIPTION.
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date
Amount Rate per When Where Payable, and by pal, When Due.
Par
For explanation of column headings, &c., see notes of
of
Stocks—Last
on first page of tables.
Road. Bonds Value. Outstanding
Cent. Payable
Whom.
Dividend.
Central Pacific—(Continued)—
Land grant mortgage bonds....................................
1870 $1,000 $4,903,000
6 g. A. & O. N. Y., Cent. Pac.ioffice. Oct. 1, 1890
1,000
Income bds. ($6,000,000), skg.fd.,10 p.c.per ann’m
1878
3,285,000
8 g. M. & N. N. Y. and San Fran. May, ’84 to *88
1,000
Conv. deben. bds. (for $10,000,000), coup, or reg.
1885
5,000,000
J. & J.
6
New York.
Jan., 1915
500
Charleston dt Savannah—1st M., C. & 8., guar........ 101 1853
505,000
M. & S. Charleston, 1st Nat. Bk. March 1, 1877
6
.. 1868 100 &c.
Funded int. bonds, S. & C. RR., guar, by S. Car...
M. & S.
New1York.
111,800
7
Sept. 1,' 1899
500
1st mortgage, Savannah & Charleston R R ............ 101 1869
J. & J.
do
500,000
7
Jan. 1, 1889
General mortgage for $1,500,000............................
(?)
Charlotte Columbia dt Augusta—1st mort. consol... 191 1869 500 &c.
J. & J. N. Y., Nat. Park Bank. Jan. i , 1895
2,000,000
7
1,000
A. < O.
fc
do
do
2d Mortgage...............................................................
500,000
191 1872
7
Jan. l j 19l0
....
1865
Columbia & Augusta 1st mortgage.........................
J. & J.
do
do
7
189,500
Jan. 1, 1890
1,000
Nil.
1883
Consol, mortg., gold (for $3,000,000).....................
New York Agency.
6 g. J. & J.
July 1, 1933
1,000
500,000
A. & O. Philadelphia, Penn R.R. Oct. 1, 1901
Chartiers—1st mortgage..................... .......................
23 1871
7
1,000
Chesapeake dt OMo—Purch. money funding bonds... 428 1878
2,279,000
6 g. J. & J. N. Y., Company’s office. July 1, 1898
1,000
2,000,000
do
do
1st mortgage, gold, series “ A” ................................. 503 1878
July 1, 1908
6 g- A. & O.
do
do
do “ B” . . . ........................... 428 1878 100 &c. 14,976,770
6 g. M. & N. *2 May coup. pd. in scrip July 1, 1908
450,000
do
funding scrip....... .................
2d mortgage, cur. (interest in stock or cash)........ 428 1878 100 &c. 10.106,429
J. & J. N. Y. Company’s Office. July 1, 1918
6
1,000
2.000,000
1st mortgage, gold of 1911, Peninsula Extension.
6 g. A. & O.
do
do
75 1881
Jan. 1, 1911
1,000
1882
42,000
1st mort., gold, on extension (for $3,000,000).......
J. & D.
do
do
June 1, 1922
6 g1,000
Var.
843,000
6
Various
do
do
Equipment trust bonds.............................................
Various.
1,000
6,176,000
Ches. Ohio dt Southwest.—1st M., gold ($19,000 p. m ) 353 1881
5-6 g. F. & A. N. Y., 52 Exeh’ge Place. Feb. 1, 1911
1,000
3,865,400
2d mortgage ($11,000 per m ile).............................
353 1881
6
F. & A.
do
do
Feb. 1, 1911
1,000
Paducah & Elizabethan, 1st M. ($300,000 are 8s) 186 1877
500,000
6 & 8 F. & A.
do
do
Feb. 1, 1897
1,000
1882
531,000
Equipment trust bonds for $*,000,000..................
6
J. & J.
do
do
Yearly to 1892
__ *
100
2,100,000
Cheshire—Stocx, preferred.........................................
64
2*2 J. & J. Keene, N. H., Office.
Jan. 8,1886
’76-’78 500 &c.
80O.000
6
J. & J. Boston, Bost. Nat. Bk. July 1,’96&’98
Bonds, not mortgage.......... ......................................
_
_
100 14,107,800
2
Q .-M . N. Y., John Paton < Co. March 1,1836
Chicago dt Alton—Common stock............................... 850
&
100
3,479,500
2
Q.—M.
Preferred st’ck (7 p. c. y ’rly not cumulative)....... 850
do
do
March 1,1386
1,000
4,379,850
General mortgage, sterling, for £900,000............ 322 1873
6 g. J. & J. Lond’n,J.S.Morgan&Co. July 1, 1903
1,000
2,383,000
7
J. & J. N. Y., John Patön & Co. Jam. 1893
1st mortgage............................................................... 220 1862
....
100
1,500,000
Joliet & Chicago, 7 per cent, stock........................
38
N. Y. U. 8. Trust Co.
1%
Q.—J.
April, 1886
2,365,000
7
A. & O. N. Y., John Paton &Co. April. 1894
St. Louis Jacksonville & Chic., 1st mortgage. .
150.. 1864. - 1,0QQ.
about 1,700,000 acres had been sold to Dec. 311834. In 1884, 399,021 portions of coupons being preserved as security for such deferred in
acres were sold for $712,473. Land contracts on hand, $1,352,934. terest scrip as against coupon holders not accepting scrip, if any.” The
same was done with coupons of Nov. 1, ’85.
Lands yet unsold, about lO,190,000 acres.
Gross earnings for two months from Jan. 1,1886, $534,410, against
Operations, F inances, &c.—The Central Pacific Railroad had a strict
$511,004; net, $141,963, against $114,394.
monopoly of business in the territory occupied by it, and for many years
The annual report for 1885 was in V. 42, p. 48^. Net income was
was able to control the traffic and make rates in that territory. The
Southern Pacific was afterwards built and was extended to New Or $896,981; interest on funded and floating debt, &o., $1,017,803- deficit,
leans, taking much of the through business. The C. P. stock after pay $120,822. Earnings and expenses were as follows in 1883, 1884 and
ing dividends for a few years ceased to pay after February, 1884, and 1885:
Gross Earnings. Op’g Expenses. Net Eam ’gs.
declined heavily; in 1885 the road was leased, as above, to the So. Pac. Years.
$2,599,933
$1,306,858
For the year 1885, gross earnings were $14,384,420, against $15,- 1883 .........................................$3,906,791
1884
.............................. 3,538,604
2,499,744
1,038,860
996,970 in 1884; net, $8,506.272,'against $8,221,057. For January,
2,465.812
895,423
1886, gross earnings were $805,809, against $1,096,535 in 1885; net, 1885 ....................................... 3,361,235
(V. 40, p. 61, 393, 427, 453, 541, 5 6 7 , 652, 686; V. 41, p. 76, 161,
$334,381, against $610,081.
The annual report is not issued till about seven months after the close 494, 527, 653; V. 42, p. 60, 112, 242, 303, 365, 393, 4 8 5 .)
of the fiscal year. From the report for 1884 (in V. 41, p. 75) the fol
Chesapeake O hio Sc Sou th w estern .—Owns from Elizabethtown
lowing is compiled:
Ky., via Paducah, to Memphis, Tenn., 352 miles; leased, Cecilian branch
INCOME ACCOUNT.
of L. & N., 47 miles. Total operated, 398 miles. This road forms the
1882.
1883.
1884.
western connection of the Chesapeake & Ohio and the Lexington & Big
8andy. The company purchased the Memphis Paducah & Northern—
Miles operated..........................
3,041
2,998
2,957
Total gross earnings.......... .
$25,662,757 $24,744,421 $22,168,000 Paducah to Memphis—and the Paducah & Elizabethtown, subject to the
. Receipts—
$
$
$
$500,000 mortgage on the latter, and leased in perpetuity the Cecilian
Net earnings..............................
8,560,991
8,094,150
4,806,428 Branch of Louisville & Nashville, from Louisville to Cecilian Junction,
281,260
335,125
373,000 for $60,000 per annum, with option of purchasing it. The 1st mortgage
Interest on sinking funds........
Cash from laud sales................
711,000
574,000
472,000 bears 5 per cent till August, 1887, and 6 thereafter. Of the 2d mort.
Miscellaneous............................
20,485
7,236
250,136 bonds $726,000 are ex-coupon to Aug., 1887. Stock—Common, $6,030,Total income...........................
9,573,736 9,010,511
5.901,564 000, and preferred, $3,696,000.
Gross earnings for two months, Jan. 1 to Feb. 28, were $230,896 in
disbursements—
$
$
$
idferest on debt...........................
3,443,413 3,546.591
3,878,487 1886, against $227,704 in 1885; net, $64,954, against $54,964.
Gross earnings for year 1884, $1,374,646; net, $339,950. Payments
Dividends (6 per c e n t)............
3,556,530
3,556,530
..........
—Rentals. $60,000: interest on bonds, $457,441 ; total payments,
Land bonds redeemed,and paid
$621,180; deficit, $231,229. See annual report, V. 40, p. 568. For
U. 8. and sinking fund..........
2,538,680
2,324,155
2,137,352
year 1885’ gross earnings were $1,571,155; net. $502,530. (V. 40, p.
9,538,623
9,427,276
6,015,839 61, 427, 5 6 8 , 686; V.41, p. 527, 653; V 42, p. 60, 124, 242, 365, 487.)
Total disbursements........ .
Balance,.........................
sur.35,113 def. 416,763 dèf.114,275
Newconstruct’mimp’vm’ts.&e
1,549,106
2,169,808
...... C h e s h ir e .—Owns from South Ashburnhaim, Mass., to Benuvs
—(V. 40, p. 119,144, 213, 363, 364, 385, 424, 479, 508, 569, 588, 624, Falls, Vt., 54 miles; leased, Monadnock Railroad, Winchendon to
Peterboro, N H., 16 miles; and 10 miles Vermont & Mass; total 8®
763; Y. 41, p. 65, 7 5 ,13 2 , 373, 445; Y. 42, p. 148, 364.)
miles; but the Monadnock, 16 miles, is not included in the Cheshire
C harleston Sc Sa va n n ah .—Owns from Savannah, Ga., to Charles earnings, leaving 64 miles operated. $51,000 rental paid to Vt. <
fc
ton Junetion, 8. C., 104 miles ; operates—Ashley River branches, 4 miles; Mass, for leased portion of road. Capital stoek—commtm, $53,300, and
Charleston Junction to Charleston, 7 miles; total, 115 miles. This was preferred, $2,100,000. Gross reoeipts in 1884-85, $561,203; net,
first the Charleston < Savannah Railroad; reorganized in 1866 under $213,856. In 1883-84, gross $586,685; net $180,775; surplus over
&
name of Savannah & Charleston, and opened March, 1870. Sold in Interest, rentals and 3 per cent dividend on pref. stack was $45,410 in
foreclosure June 7, 1880, and present company organized. Stock, 1885, against $12,109 in 1883-84. (V. 41, p. 6 1 1 .)
$1,000,000. Earnings, gross in 1883, $406,316 ; deficit, $7,526. In
Chicago Sc A lto n .—L ine of R oad—Joliet to East St. Louis
1884, gross, $428,240; net, $31,649. H. B. Plant, President, New York.
(main), 244 miles; Branches—To Coal City, 30 miles; Dwight to
—(Y. 40, p. 684.
Washington & Lao’n, 80 miles; Roodhouse to Louisiana, 38 miles;
C harlotte C olu m b ia Sc A u g u sta .—(See Map Richm. d Danv.)— (Jpper Alton line, 8 miles. Total owned, 400 miles. Leased—Chicago
t
Owns from Charlotte, N. C., to Augusta, Ga., 191 miles. Leases Atl. Tenn. to Joliet, 37 miles; Bloomington to Godfrey, 150 miles; Louisiana
S O. RR., Charlotte to Statesville, 44 miles; Cheraw & Chester, 29 mile«; to Cedar City, 101 miles; Kansas City to Mexico, 162 miles. Total
c
and Chester & Lenoir, 109 miles. The Charlotte Col. & Aug. was a consoli leased, 450 miles. Total operated, Deo. 31,1885, 850 miles.
dation (July 9,1869) of the Charlotte & South Carolina and the Columbia
Organization, L eases, Stocks and B onds.—Chartered as the Chio.
& Augusta. The road has been under the control and management of
the Richmond & Danville since 1878. None of the new consol, bonds & Miss., Feb. 27, 1847; reorganized under act of Jan. 21, 1857, as
Chic. Alton St. & Louis, and under act of Feb. 16, 1861, the present
had been issued to January, 1886. Gross earnings in 1883-84, $627,854;
net, $181,764; deficit after all interest and rentals, $74,684. In 1884-85, corporation succeeded to the property, which was sold under fore*
ross earnings, $826,967; net, $364,010; surplus over all charges, closure in the following year and transferred to new organization in
October, 1862. Chicago and St. Louis were connected by the present
99,385. Stock, $2,578,000.-(V . 40, p. 27; Y. 42, p. 21.)
line in 1864. The annual meeting is held the first Monday in April.
C h artiers.—Owns from Mansfield, Pa., to Washington, Pa., 23 m.
The Joliet & Chicago is leased from January 1, 1864, for the
Sold under foreclosure, and reorganized in 1871. Leased for 99 years term of its charter, and forms part of the main line. Rental, 7
from January 1, 1872, to the Pittsburg Cincinnati & St. Louis; the per cent on stock.
The St. Louis Jacksonville & Chicago was
rental is net earnings. Gross earnings in 1884, $164,079; net earnings, leased in perpetuity from April 30, 1868, at a rental equal to 40 per
$68,989; in 1885, gross earnings, $137,234; net, $45,556. Capital cent of gross earnings until the amount reached $700,000, with a mini
Stock, $647,850.
mum of $240,000 a year, and the company in 1884 was merged with
Chesapeake Sc O h io.—(See Map).—Owns from Newport News, Va., Chicago & Alton and its stock exchanged for C. & A. stock. (See V. 38,
to Big Sandy River, W. Va., 503 m.; Old Point Junction to Phoebus, 8 m.; p. 455.) The Louisiana & Missouri River RR. is leased for 1,000 years
total owned, 511 m.; operates only 502 m. Consolidation of Virginia from August 1,1870. Rental, 35 per cent of gross earnings, but inter
Central and Covington & Ohio, and opened through March 1,1873. The est guaranteed on second mortgage bonds and preferred stoek as
present company was organized in July, 1878, as successor of the Ches. above; the other pref. stock is $1,010,000 and common $2,272,700;
& O., which was sold under foreclosure April 2,1878. The Elizabeth gross earnings in 1881, (less taxes) $665,902. The Kansas City St.
town Lexington & Big Sandy Railroad connects on the west with the Louis & Chicago is leased to the Chicago & Alton company in perpetuity
C. & O., and extends to Lexington, Ky.
from Nov. 1,1877. at a rental of 35 per cent of gross earmngs, less taxes
The stocks including scrip outstanding were as follows December 31, and assessments. The bonds are held bv U. S. Trust Co. as security for
1885: Common, $15,4 )4,435, preferred stock—first, $3,362,803; second. the C. & A. bonds of 1878 issued to build this road, and a sinking fund of
$10,121,870. The second mortgage currency bonds till July, 1884, took $60,000 per annum provided for their redemption. Should the 35 per
interest in 2d pref. stock, then for two years take partly in that stock and cent be more than sufficient to pay bond interest and 7 per cent on
partly cash, and afterwards all cash, if the earnings are sufficient, but the stock, the excess is to go to the lessees. The Mississippi River Bridge
“ all interest not paid in cash to be paid in 2d pref. stock.” The holders is leased in perpetuity from December 3,1877, at a rental equal to 7 per
of first mortgage “ B ” bonds cannot foreclose till six successive coupons cent on $300,000 stock and 6 per cent on $700,000 bonds.
The Chic. & Alton preferred stock has prior right to a non-cumiilative
are in default. The mortgage bonds of 1882 for $3,000,000 are secured
on road from Newport News to old Point Comfort, Va., and terminal dividend not exceeding 7 per ct. from net earnings, and (after payment
works ; and on a branch to be built in West Va. from Scary Creek to the of 7 on common) also snares with common in any surplus. Prices of
Ohio Rlv. First pref. stock has prior right to 7 p.'c. from surplus; then 2d stock have been as follows: Preferred in 1881, 140® 153; in 1832,
pref. to receive 6 per cent. The Ches. & Ohio guarantees $700,000 bonds 130®146; in 1883,140®150; in 18S4, 142®152; in 1835,147®155; in
1886. to April 16, 154® 160. Common in 1881,127® 156; in 1882,127*2
for a grain elevator, but in case of paying them will take the elevator.
The full interest charge per year in cash is $1,'¿79,260. In May, 1885, ® 145*2; in 1883, 128®137*4; in 1884, 118® 140*4; in 1 885,128®140;
the company offered “ to pay in oash one-half part of tbe coupons of the in 1886, to April 16, 139 3t® 144.
Dividends were as follows prior to the current year : In 1877, both
“ B ” bonds then falling due, and to issue scrip for the remain
der thereof, payable out of net earnings of the railway company above stocks, 7*2; in 1878, both 7; in 1879, preferred 7, common 6 ; in 1880,
expenses and fixed charges as they accrue, all liens and unpaid pref. 7, com. 6*2! in 1881 both 8 ; in 1882 both 8; in 1883 both 8 ; in
f
26
RAILROAD STOCKS AND BONDS.
[ T ol .
x l il
S u b s c r ib e r » w i| l confer a great favor by g iv in g Im m ediate notice o f any error discovered In these Tables.
DESCRIPTION.
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount Rate per
For explanation of column headings, <fcc., see note8 of
of
Par
When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value. Outstanding
Cent. Payable
Whom.
Dividend.
Chicago < Alton—( Continued) —
&
8t. Louis Jack.* Chic, 1st M. endorsed by C. & A
37 1864 $1,000
$564,000
7
A. & O. N.Y., John Paton & Co. April 1, 1894
do
do
2d M. endorsed by C. & A ..
1,000
37 1868
188,000
7
J. & J.
do
do
July, 1898
do
do
2d mortgage (convertible)
150 1868
1,000
47,000
7
J. & J.
do
do
July, 1898
La. & Mo., 1st M. ($439,100 assumed by C. &A.)
101 1870
1,000
1.785.000
F. & A.
7
do
do
Aug.. 1900
do
2d M. (int.guar. C. & A.)........................ 101 1877
1,000
300.000
7
M. & N.
do
do
Nov. 1, 1900
do
guar. pref. stock...........................
100
329,100
3*2 F. & A.
do
do
Feb. 1, 1886
Bonds for K.C.St.L.& C. (1st mort. as collateral) ’ 162 1878
1,000
2.573.000
6 g. M. & N.
do
do
May 1, 1903
Preferred stock, K. C. St. L. & C., guar. C. & A ..
100
....
1.750.000
Q .-F .
do
do
May 1, 1886.....................
Common stock
do
271,700
3ifl
Chic., III. Tr. & Sav. Bk. Nov. 1, 1885Mississippi Riv.Bridge st’k (7p. c.guar, by C.&A*)
300.000
7
Chic., Treasurer’s Office
In 1885
C. & A. bonds on Miss. Riv. Bridge, 1st mort., gold
1,000
1877
675.000
6
A. * O. N. Y., John Paton & Co Oct. 1, 1912
Chicago Atlantic—1st mort., gold, $ or &............
1,000
249 1881
6.500.000
M. & N. Last paid May 1,1884 Nov. 1, 1920
2d mortgage (for $5,000,000)..........................
1,000
249 1883
f i g.’ F. & A.
l
2.500.000
6
None paid.
Aug. 1,1923
Chicago Burlington < Northern.—Stock................
&
100
360
9.000.
000
1st mortgage, redeemable at 105........ ............ .
360 1885 500 &c.
9.000. 000
5*"" A. & O.
April 1, 1926
Chicago Burlington < Quincy—Stock..................... . 3,322
&
100 77,540,500
2
Q.—M. Boston and New York. Mar. 15, 1886
Consolidated mortgage coupon, (for $30,000,006) 825 1873
1,000 13.986.000
7
J. & J.
Bk.
Trust mort.onIowa lines,coup.or reg.(s.r. l^ p .c .) 787 1879
1,000 12.689.000 4& 5 A. & O. N. Y.,do of Commerce, July 1, 1903
do
Oct. 1, 1919
Bonds Denver exten. 4s, (sink, fund 2 per cent)...
1882
1,000
7.968.000
4
F. & A.
do
ao
Feb. 1, 1922
Southwest Div. 4s, (s. f. lp .c .) ................................
1,000
1881
4.300.000
4
M. & S.
do
do
Sept. 1, 1921
Debenture bonds for Han. & St. Jo. s tock ............
1883
1,000
9.000.
257 5
M. & N.
May 1, 1913
Northern Cross R. R. 2d. mortgage, g o ld .............
i o o 1860
491.000
J. & J.
Frankfort.
July 1, 1890
Trust mortgage (Burlington to Peoria)..................
96 1864
653.000
A. & O. N.Y., N. Bk. of Com’ree. Oct. 1, 1890
Plain bonds (coupon or registered).....................
1872
1,000
547.500
7
J. & J. Boston, Co.’s office,
Jan. 1, 1896
Bonds of 1895, (sinking fund)...............................
33 1875
1,000
373.000
J. & D.
do
do
June 1, 1895
Dixon Peoria & Hannibal, 1st. i
(
40 1869 500 Ac.
545.500
J. & J. N.Y..N. Bk. of Com’rce. July 1, 1889
Ottawa Oswego* Fox Riv., 1st 1 Coup., but may J
70 1870
1,000
1.076.000
J. * J. New York and Boston. July 1, 1900
Illinois Grand Trunk, 1st mort ( be registered. 1
44 1870 500 &c.
890.500
A. & O. Boston, C. B. & Q. Office Oct. 1, 1890
Quincy & Warsaw, 1st mort . . J
1
1,000
40 1870
720.000
J. & J. N.Y.,N. Bk.of Comm’rce July 1, 1890
5s of 1901 (sink, fund) coup.................................... 270 1876
1,000
2.325.000
A. & O. Boston, Co.’s Office.
Oot. 1, 1901
Quincy Alton & St. Louis, 1st mortgage, guar... ’ .
46 1876
1,000
840.000
F. & A. N.Y.,Farmers’ L.& T.Co. Feb. 1, 1896
1884, both 10; in 3885, both 8, the periods being changed from semi
annual to quarterly in May, 1884.
Operations and F inances.—The CJiicago & Alton road has been par
ticularly strong in having a large local business between Chicago and
St. Louis, so that it was less dependent on through business, which is
done at competitive rates. Its leased lines are as completely controlled
as if owned, and the system is compact.
Operations, earnings, &c., have been as follows for four years past.
Fiscal year ends Deo. 31. Annual report for 1885 was in Y. 42, p. 270.
OPERATIONS AND FISCAL RESULTS.
Operations—
1882.
1883.
1884.
1835.
Passengers carried
1,666,991
1,805,140 1,907,486
1,721,286
Passenger mileage .. 101,150,959 106.028,676 119,946,417 109,078,875
Rate $ pass. $ mile.
1-951 cts.
2-141 cts.
1-899 cts.
2-025 cts.
Freight (tons) moved 3,522,840
3,488,496 3,593,284 3,631,108
Fr’ght(tns) mileage* 474,823,908 549,369,534 602,768,054 538,522,498
trols and largely owns the St. Louis Keokuk & N. W. road, 181 L m iles3
gie Kansas City St. Joseph & Council Bluffs, 313 miles; the Chicago.
Burlington & ¿ansas City, 153 miles; the St. Joseph & Des Moines §0™}%s ? ? d aihalf-interest with Wabash in the Humeston & Shenandoah
road, 113 miles. Also owns a majority of the stock of Hannibal & St.
2 °'- Purch.ased m 1883, and $3,000,000 of the stock of the Chic.
Bur. & No. taken in 18a5; which road (C. B. & N ) will extend to St. Paul.
n m ?G A
^NIZATION’ &,C- - T1ie & B. & Q- was a consolidation in 1856 of the
Cent. Military Track railroads, and purchased
m I860 the Northern Cross RR. and m 1862 the Peoria & Oquawka road,
lh e present company was a consolidation in January, 1875, of the
Chicago Burlington < Quincy in Illinois and the Burlington & Missouri
fe
River in Iowa. In 1880 the Burlington & Missouri in Nebraska
was absorbed. The leased lines are practically owned and there
*m *or ren^?'ls 1 the income account, except as interest on
i?e
P
bonds. The ownership in the other roads above-mentioned is in the
stocks and bonds thereof, and their accounts are kept separate (701
Earnings—
$
$
$
$
Hhi
the C- B & Q.
Passenger.................
1,973,100
2,270,379
2,278,429
2,209,502 stock iS the 'xr111 A,i)r,llh St. Joseph RR., and purchased the common
of
Hannibal &
part of the pref. stock
Freight......................
5,948,123
6,197,681
6,073,675
5,432,633 ? qq-p +t Wltl1 lts $9,000,000 of 5 per cent bonds at par. In August,
?
Mail, express, &e___
294,271
342,550
357,170
351,034 .ta^ib the agreement was made with the Chic. Bur. & No.; see circular
m V. 41, p. 160. The fiscal year ends Deo. 31. Annual election in April.
Total gross earnipgs
8,215.494
8,810,610
8,709,274
7,993,169
Stocks and B onds.—The stock has been rapidly increased for the
Total (incl. taxes)
4,684,502
5,097,032
5,133,790 4,612,847
acqmsmon of new lines, and in 1880 a distribution of 20 per cent in
stock was made.
April,
about $7,000,000 new
Net earnings............
3,530,992
3,713,578
3.575,484
3,380,322 {“ 'hhding the stockInheld in 1884, treasury,) was offered atstock
the
par
P.c.of 6p.exp.to earn
57-02
57-85
57-70 to old stockholders, being about 10 per cent on holdings. Prior to the
58-94
* Does not include company’s freight
In 1877, 9 per cent; in 1878, 1 0 ^ ; in
INCOME ACCOUNT.
f a i t ’ a ;8
o ^ h and 20 stock; in 1881, 8 ; in 1882; 8 ; in
1882.
1883.
1884.
I ’, ¿o,188, ’ 8: inlSSO’ 8. The prices of stock have been: In 1881,
4
1885.
Receipts—
in 1882, 120*a@l41; in 1883, 1155i®12938; in 1884
$
$
$
$
Ne t earnings.............
3,530,992
3,713,578
3,575,484 3,380,322 107@127%; i n i 885, 1 1 5 ^ 1 3 8 ^ ; in 1836, to April 16, 1294^ 140
Other receipts..........
332,547
284,773
1 c. B. & Q. on many of its branch lines gave a traffic guarantee of
278,818
272,845
40 to 50 per pent, which was used in purchasing their bonds. The C. B.
Total................
3,863,539
3,998,351
3,854,302
3,653,167 A Q. 4 per cent bonds were issued against Rep. Valley and Bur. & Col.
Disbursem en is—
$
5 per cent bonds held in trust, and an equal amount of Rep. Valley stock
$
$
$
Rentals pa id............
1,127,534
1,208,277
823,565
704,473 scrip was also issued to subscribers to the bonds, such scrip being e x
Construo’n,equip.,&o
71,221
740,759
292,221
380,702 changed April 1,1882, into Chicago Burlington & Quincy stock. The
Interest on debt.......
761,122
700,544
770,683
839,307 Kansas City St. Joseph & Council Bluffs and branches was purchased.
Dividends..................
1,083,080
1,194,184
1,646,840
1,409,750 204 miles, and the Chic. Burl. & Q. stock issued therefor at $125 per
Miscellaneous...........
97,940
86,963
taking the St. Jo. stock at $72 50 per share. Enough of the C. B
88,263
93,854
Jol. & Chi.b’ds red’d.
306,000
6 Q. consolidated mortgage is reserved to take up prior debts. The
bonds of 1876 for St. Louis Rock Island & Chicago Railroad are plain
Total disbursem’ts
3,446,897
3,930,727
3,621,572
3,428,086 bonds of Chic. Burlington & Qumcy, offset by mortgage of like amount
Rock Island & Chicago road deposited
Balance, surplus___
416,642
67,624
232,730
225,081 on St. Louisfunds for most of the issues of bonds. with trustees. There
are sinking
—(V. 40, Jr’ * 2 5 4 ,2V6V I; V. 42, fp. 2 7 0 .)
p.
6 »•
V ▼*
«
* V .f
L a n d Grant.—The lands were obtained by the consolidations with
C hicago & A tla n tic .—Opened May 14,1883, from Marion, O , on
line of N. Y. Pa. & O., to Hammond, Ind., 249 miles, and thenoe over Burlington & Missouri in Iowa and Burlington & Missouri in Nebraska.
the Chicago & West. Ind. to Chicago, 19 miles. Built as a connecting line In Iowa only 19,133 acres remain unsold, and the contracts outstand
for N. Y. P. & O. and N. Y. L. E. & W., and both these companies guaran ing Dec. 31, 34, were for $896,o62, principal and interest. In Nebraska
tee the gross earnings on business over their roads to and from the the net sales forthe year 1884 were 53,555 acres, f o r '$341,250. an
Chic. & Atlantic, as security for interest on the bonds. Stock, $10,o00 - average price of $6 o7 per acre. Contracts on hand, $3,059,420; in
000. of which $9,000,000 was deposited with H. J. Jewett, as President of terest on contracts on hand, $606,552; unsold lands, 128,860 acres,
N. Y. L. E. & W., in trust to hold and vote on it. On Nov. 1,1884 the estimated at $1 per acre, $515,441.
interest due on 1st mort. bonds was defaulted. The 2d mortgage bonds
°PERATION8 AND F inanoes - T he Chicago Burlington* Quincy Railwere largely pledged for N. Y. Lake E. & W. loans, partly to Grant & road has been, one of the most profitable in the country, as its numerous
Ward. In April, 1885, the N. Y. Lake Erie & W. diverted traffic and branches tributary to the main line were built into choice agricultural
declined obligation to pay interest, and in this was sustained by the territory, where they enjoyed a monopoly of the local business at full
courts. In Feb., 1886, sqjt was brought by the Farmers’ L. & T. Co to rates. The company gives no full traffic statistics in its report, and the
foreclose the first mortgage, and decision by Judge Gresham was in mileage of freight and passengers is not known; but corn is the most
their favor generally, though he did not then appoint a receiver (Y 42 important article carried.
p. 463.) Forthe yearending June 30,1885, the reportto Ohio State Com
On August 1,1885, the C. B. & Q. stockholders were offered the right
missioner gave gross earnings $1,346,676; net, $248,117; rentals, $170 - to take $7,638,000 bonds and $4,582,000 stock of the Chic. Bur. & No.
$300 in
304 338 463 ) WStt’ PresiG®
nt’ (V’ 41’ P- 272' 392’ 6 l i >720? V. 42, p. RR., as follows, viz.: a $500 1st mort. 5 per cent bond and ”
stock for $555 cash.
Gross earnings for two months from Jan. 1,1886, were $3,216 996
Chicago B u rlin g to n & N orth ern .—Road in progress from
’
’
’
Oregon, on the Chic. & Iowa RR., and Fulton, on the C. B. A Q., in 1 1 against $3,594,399; net, $1,220,555, against $1,361,218.
1
The annual report for 1885 was published in the Chronicle V 42
to a junction near Savanna, 111., and thence up the east baukof the
(April 24). Comparative statistics for four years are as follows • ’
Mississippi River to St. Paul. The road is constructed under C. B & O
♦
1881.
1882.
1883.
’ 1884
auspices, as per circular of August 1, 1885 (in Chronicle, V. 41 d
3,131
3,224
3 369
160), and tli© mileage and stock and bonds are above given as tkev wfil Miles ow’d and leas’d
98
98
’ 98
-be when road is finished. The C. B. & Q. and Chic. & Iowa give a traffic Miles oper’d jointly.
guarantee of one-half of their net earnings derived from business to and
Total operated..
3,229
3,322
from the C. B. & N., to be not less than $100,000 per year for the nur
3,467
3,646
Earnings—
$
chase of C. B. & N. bonds at 105; and after 1896 the bonds may aU be
$
$
$
Passenger......... ..
4,756,992
5,285,839
retired at 105; they begin to draw interest from April 1,1886.
5,339,866
5,286,407
Freight......................
C hicago B u rlin g to n & Q u in c y . — ine o f R oad .—The C B & Mail, express, & c.... 15,711,510 19,514,161 18,514,432 19,565,853
L
1,082,304
1,310,369
1,629,315
1,704,165
Q. is one of the most complex railroad systems in the U. 8. It has a net
work of lines in 111., Iowa and Neb. The main line extends from Chic Total gross earnings. 21,550,806
26,110,369 25,483,613 26,556,425
111., to Burlington, Iowa, 204 miles, and thenoe to Pacific Junction 276 Oper. exp. & taxes.. 11,283,963
13,496,479 14,090,745 14,405,768
miles, and from Pacific Junction to Denver, Col., 577 miles, mab-m’g the
distance from Chicago to Denver 1,057 miles. From Pacific Junction Net earnings............. 10.266.842 12,61 3,890 11,392,868 12,150,657
P. e. of op. ex. to earn
52-9
51-7
to Council Bluffs is 18 miles (track used jointly with K. C. St. Jo. & C.
55*4
54-2
B.), making the C. B. & Q. line, Chicago to Council Bluffs, 498 miles
INCOME ACCOUNT.
The Extens. to Denver was opened May, 1882. Besides numerous local
Receipts—
$
$
roads the company also has its line in Illinois to East St. Louis, and to Net earnings............ 10.266.842 12,613,890 11,392,868 12,150,657
uincv, connecting with the Hannibal & St. Joseph road (purchased by Int. and exch...........
452,498
324,180
566,769
592,432
•5 1111883) across Missouri to St. Joseph. The mileage reported Net B. & M. I’d gr’t..
1,329,725
1,595,788
1,129,591
(?)
at the close of 1884 was 3,468. In addition to this the company conTotal income........ 12,049,066 14,533,858 13,089,228
or
8
A p r il
1886.]
RAILROAD
37
STOCKS AND BONDS.
f
M AP OF THE
l
CHICAGO
EASTERN ILLINOIS
R A IL R O A D
&
C O N N E C T ’ S.
ßAILBOAD
* 8
STOCKS AND
BONDS.
[v o l .
x l h
.
Subscribers w ill confer a great favor by giv in g Im m ediate notice o f a n y error discovered In these T ables.
DESCRIPTION.
on first page ol tables.
Chicago Burlington A Quincy—( Continued)—
Bnrl.&Mo. Riv., 1st on r’d &400,000ac’s I’d ) Cp.
do 1st M. on br.,C.B.»feQ.stk.(5th ser.) > or
do Conv. bonds, C.B.&Q.stk.(6tb ser.) ) reg.
bonds. C.B.<&Q.stk.r6th t
Mo. consol.M.for $14,000,000, s.l
do
Omaha & 8.w ., 1st M., guar.
Bonds—Prinoi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due
Amount
Par
of
of
Outstanding Rate per When Where Payable, and bv Stocks—Last
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
281
40
.
191
49
Nebraska consol, mort., guar.....................
Ï33
Republican Valley RR., sink, fund bonds ...
148
Atchison & Nebraska. 1st mortgage............
149
Lincoln & Northwestern RR. bonds.............
72
Kansas City St. Jo. & C. Bl., m ortgage........
274
Tarkio Val. and Nodaway Val. mortgages ..
62
Chicago A Canada Southern—1st mort., gold..........
67
Chic. Detroit A Canada Or. Trunk Junction—1st M.
59
Chic. A Ea8t.Hl.—Stock..... .......................................
302
1st M., coup. (s. f. $20.000 after ’8 5 ).....................
123
2d mort. income (non-cumu.) conv. into consol... 123
Consol, mort., gold (for $6,000,000)....................... 238
C. & E. 111. Extension, 1st mortgage......................
14
Dan. & Grape Creek RR.—1st mortgage................
12
Chicago A Or. Trunk—1st M., $ & & ($o94,500 res’d) 330
2d mort................................................................
330
Northwest. Grand Trunk, 1st mort.............
66
Chicago A Great Southern—1st mort..................
76
Chicago A loica—1st mort., coup., may be reg
80
2d mortgage.........................................................
80
1st mortgage C. R. < N .....................................
fc
2d mortgage C. R. & N......................................
Chicago Milwaukee A St. Paul—
-Com. stock
4,720
Preferred st’ck (7 p .c. y ’rly, not cumulative).
4,720
Consolidated mortgage (for $35,000,000)___
1,435
1st mortgage f Lacrosse Div.), coup, or r e s ...
370
1882.
$
148,771
3,883,789
631,443
750,000
5,023,599
8
1883.
$
144,506
4,093,005
646,430
1,500,000
5,566,484
8
1863
1869
1870
1878
1871
1880
1877
1879
1878
1880
1877
1830
1872
1859
__
1877
1877
1884
1881
1880
1880
1882
1880
1881
1870
1871
1875
1875
....
1875
1863
$50 »fee. $4,170,550
500 »fee.
72,500
500 »fee.
157,000
600 »fee. 11,711,800
1,000
674.000
1,000
3,347,000
1,000
385,000
3,000
939,000
lOOifec.
1,125,000
....
600,000
100»fec.
5,000,000
1,000
734,000
1,000
2,541,000
100
1,095,000
100
3,000,000
100 »fee.
3.000,000
100 »fee.
113,000
1,000
2,101,000
3,000
238,000
1,000
250,000
£100 »fee 5,405,500
1,000
6,000,000
500 »fee.
594,500
1,000
1,000,000
1,000
600,000
1,000
1,150,000
250,000
150,000
100 30,904,261
100 21,540,900
1,000 11,470,000
1,000
5,279.000
7
8
8
6
8
4
7
6
7
7
7
7
7 g.
6
2*a
6
7
6 g.
6
6
6 g.
5
6
6
8
8
8
8
2*2
3*2
7
7
A < O. Boston, Co.’s Office.
fe
J. «fe J.
J. < J.
fe
J. < J.
fc
J. »fe D.
J. < J. Boston, N. E. Trust Co.
&
A. < O. Boston, Co.’s Office.
fe
J «fe J.
do
do
M. < S.
&
do
do
J. < J. Boston and New York.
fe
J. «fe J.
do
do
J. «fe D.
Boston.
A. < O. N. Y., Union Trust Co.
fe
J. «fe J.
London, England.
M. «fe S. N. Y., Central Trust Co.
J. < D. New York, 4th Nat. Bk.
&
Dec. N. Y., Central Trust Co.
A. < O.
fe
do
do
J. «fe D. New York. 4th Nat. Bk.
M. < N. Boston, Globe Nat. Bk.
&
J. «fe J. New York and London.
J. < J.
&
do
do
J. «fe J.
M. < N. Last paid Nov.. 188Ü
fc
J. «fe J. New York and Boston.
J. < J.
fe
A.
A.
A.
J.
1
J.
< O.
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< O.
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< O.
fe
«& J.
< J.
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New York, Office.
do
do
do
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1
Oct. 1, 1893
July 1, 1894
July 1, 1889
July 1, 1918
June 1, 1896
Jan. 1, 1910
Oct. 1, 1896
Jan. 1, 1919
Mar. 1, 19Ö8
Jan. 1, 1910
Jan. 1, 1907
June 1, 1920
A p r ili, 1902
July 1, 1884
Mar. 1, 1886
Deo, 1, 1907
Déc., 1907
Oct. 1,1934
Dec. 1, 1931
May. 1920
Jan." 1, 1900
Jan., 1922
Jan. 1, 1910
Nov. 1,1911
Jan. 1, 1900
Aug. 1, 1901
July 1, 1895
Oct. 1, 1895
x
July 1, 1905
'1893
1884.
18^5.
April, 1880, under the control of the Gr. Trunk of Canada. It includes
$
$
the former Port Huron < Lake Michigan and the Peninsula roads, sold in
fc
139,604 )
foreclosure. Stock, $6,600,000 in $100 shares. The Grand Trunk o f
4,304,284 > 5,127,864 Canada gives a traffic guarantee of 30 per cent of gross earnings o*'
938,064 )
business to and from the Chicago < Grand Trunk Road. Gross earnings
fe
500,000 1,000,000 for 1884, $3,178,180; net, $762,677; surplus over interest and rentals,
5,566,580 6,110,572 $1,954; in 1883, gross, $2,977,000; net, $717,000. (V. 40, p. 337.)
8
8
Chicago Sc Great Sou th ern .—From Fair Oaks, Ind., to Yeddo,
fc
Total disbursements 10,437,602 11,950,425 11,448,532 11,238,436 Ind., 76 miles; consolidation 1883 of the Chic. < Gt. Southern and the
fc
1,611,464 2,583,433
1,640,696
............ Chic. < Block Coal railroads. Stock issued $1,000,000: bonds author
Balance, surplus......
ized, $2,000,000; issued, $1,000,000. In November, 1884, receiver ap
GENERAL BALANCE DECEMBER 31, 1884.
pointed, and in April, 1836, foreclosure sale was made. (V. 42, p. 242.
Assets—
Liabilities430, 487.)
Railr’d, equip’t, »fee.. $141,876,859 Stock, common........ $76,379,140
Stocks ownea, cost..
26,285,236 Stock, B. & M.
Chicago Sc I o w a . - Owns from Aurora, HI., to Foreston, 111., 30
71,006
Current accounts...
7,035,349 Bonds.........................
71,144,608 miles; leased, Flagg Centre to Rockford, 24 miles; total operated, 104
Materials, fuel, »fee..
1,807,568 Land grant sink. f ’d.
5,260,999 ¡miles. Chartered in 1869 and opened in 1872. In hands of a Receiver.
Cash on h an d ..........
3,675,432 Other sinking funds.
3,928,465 Gross earnings for year ending Dec. 31.1883, were $565,877; net, $205,Trust’s B. < M.l’dgr.
&
4,223,226 Contingent liabilities
6,016,000 405. Gross earnings in 1884, $552,080; net, $188,759. Capital stock,
Trust’s C. B.&Q. s.fd
363,979 Income account.___
fc
10,876,920 $1,428,000. This road is controlled by the Chicago Burlington <
N.Eng.Tr.Co., trust’s
2,469,260 Renewal fund...........
7,000,000 Quincy and is used to connect with the Illinois Central.
Miscellaneous. . . . . . .
32,382 Miscellaneous*.. . . . .
1,178,250
Chicago M ilw a u e e Sc St. P a u l.—(See Map.)—L ine of
Profit and loss..........
5,913,903 The company operates k great consolidated system of railroads inR oad .—
a
Illinois,
Total................... $187,769,291
Iowa and Dakota, which are well shown on the
Total................... $187,769,291 Wisconsin, Minnesota,The main through lines are from Chicago to Mil
accompanying map.
* Includes unclaimed dividends, unpaid accounts, pay-rolls, »fee., &c.
—(V. 40, p. 60. 92. 225, 2 4 0 , 321, 351, 3 6 2 ,4 5 1 ,4 3 7 .5 5 3 ,6 6 5 ,6 8 4 : waukee, 85 miles; Milwaukee to St. Paul and Minneapolis, via La Crosse,
341 miles; Milwaukee to Prairie du Chien, 194 miles; McGregor (oppo
V. 41, p. 35,133,160, 231, 272, 341. 356, 527; V. 42, p. 60, 387, 447.)
site Prairie du Chien) to Chamberlain, Dak., on the Missouri River, 442
C M cago Sc Canada Southern—(See Map o f Lake Shore A miles; Chicago, via Savanna, on the Mississippi River, to Council Bluffis,
Michigan Southern).—Owns from Grosse Isle, Mich., to Fayette, O., la., 487 miles ; Minneapolis to Aberdeen. Dak., 288 miles. On Dec. 31,
67 miles. On Nov. 1, 1879, it was transferred to the Lake Shore & 1885, the mileage in minois was 313; in Wisconsin, 1,230; in Iowa, 1,409;
Michigan Southern. It has a capital stoek amounting to $2,667,400 in Minnesota, 1,104; in Dakota, 865. Total miles operated, 4,921 ; in
and a bonded debt qf $2,541,000, and owes upwards of $1,680,000 over cluding Fargo < South, road, 117 miles, Fargo, Dak., to Ortonville, Minn.,
fe
due coupons. Original cost, $5,176,557. It is a part of a projected line acquired in July, 1885.
between Chicago and Detroit River, but failed in 1873.
Organization, »fee.—The Milw. < St. Paul RR. Co. was organized May
fe
C hicago D etroit < Canada G rand J u n c tio n .—Owns from 5,1863, and embraced a number of other companies, including the Mil
fe
fe
fe
Port Huron, Mich., to Detroit Junction, 59 miles. Opened in 1859. waukee < Miss., the Prairie du Chien, the Lacrosse < Milwaukee, and
&
Leased to Grand Trunk of Canada. Earnings in 1885, $222,654; net, others. The Milwaukee < St. Paul afterward purchased the St. Paul &
Chicago Road and others, and built the line from Milwaukee to Chicago,
and on February 11,1874, the company took its present name. 'Hie
The fiscal year ends Dec. 31. The annual meeting is held early in June.
is owned by the lessees, but a separate organization is maintained in
Stocks and B onds.—The preferred stock has a prior right over the
Michigan.
common stock to a dividend of not over 7 p. c. from net earnings in
C hicago Sc Eastern Illin o is .—(See Map)—Owns from Dolton, 111., each year, but if not earned it has no cumulative right. If a dividend
to Danville, 111., 107*2 miles; Covington, Ind., to Coal Creek, Ind.. 9 miles* was earned in any year and not paid, there might be a claim on future
Danville to Sidell’s, 23 miles; leased, Dolton to Chicago (C. < W. I ) 17 years for such dividend. After payment of 7 on pref. and 7 on com.,
&
miles; Wellington Junction to Cisua Park, 13 miles; Evansville Terre both classes share pro rata. Dividends paid since 1873 have been as
Haute < C.RR., Terre Haute to Danville, 111., 55 miles; Otter Creek to follows (prior to current year): In 1874, 7 ou preferred paid in consol,
&
Brazil, Ind., 14 miles; Danville, HI., to Covington, Ind., 13 miles* bonds; in 1875 no dividend; in 1876, 3*a cash on preferred and 14 per
total operated, 253 miles. The leases of 17 miles, Dolton to Chicago’, cent in bonds; in 1877, 3*2 on preferred ; in 1878,10*2 on preferred; in
and 13 miles, Danville to Covington, are contracts for use of track over 1879, 2*2 on common and 7 on preferred; in 1880,1881,1882,1883 and
other roads. The Evansville Terre Haute < Chicago was leased May 1, 1884, 7 on both; in 1885, 4 on common and 7 on preferred.
fe
XOuvi
The range in prices of stocks sinoe 1877 have been: Pref. in 1878, 64®
The Chicago < East Illinois was chartered as Chicago Danville < 84%; in 1879, 74%® 102%: in 1880, 99®124*s; in 1881,116%®140; in
fe
fc
Vincennes in 1865, and opened in 1872 and 1873. Sold under foreclos 1882,114*2® 144*4; in 1883,115®122*4; in 1884, 957s®119; in 1885,
ure Feb. 7, 1877, and reorganized under existing style Sept. 1,1877. 102ô)125; in 1886 to April 1 6 ,118®125. Common—in 1878,27*2®
A consol, mortgage for $6,000,000 was authorized, of which $4,500,000 54% in 1879,343g®82*8 ; in 1880, 66*2®U4%; in 1881, 101*2®129*4;
to retire prior issues. Under the terms of leases the C. < E. 111. guar, in in 1882, 96*2®128*4 ; in 1883, 91 %® 108*2; in 1884, 58*4®94*4; in
&
1885, 64%®99 ; in 1886 to April 16, 85% ®963s.
terest on $1,515,000 bonds of leased roads.
6
Of the consolidated mortgage bonds of 1875, enough were reserved to
The following is a statement for the first half of the fiscal year :
take up the prior bonds. The latter had a sinking fund of 1 per cent
/-—
July 1 to Dec. 31— ,
„
.
m1885.
1884. Inc. in 1885. per annum, but holders may have their bonds stamped and discharged
fe
Gross earnings................................$931,541
$857,743
$70,568 from thé operation of the sinking fund. The Chicago < Pacific Western
Operatmg expenses.............. ......... 470,385
457,654
12 621 Division bonds are issued at $20,000 per mile on new lines built or ac
quired. The Iowa < Minn. Div. bonds are convertible into preferred
fe
Net earnings............................. $161,156
$400,089
$57.947 stock. The terminal bonds issued in 1884 are secured by mortgage on
For previous years the reports had these statis tics:
the terminal property in Chicago and Milwaukee, subject to the lien of
INCOME ACCOUNT.
the general mortgage so far as that covers these terminals. The lands
1881-82.
1882-83.
1883-84.
1884-85 acquired by the company nave Deen mainly closed out, and in
1883 the land grant and income bonds were issued against the land
$
$
$
$
Gross earnings.......... , 1,692,266
1,759,132
fe
1,560,320
1,600,143 notes held. In July, 1885, the stock of the Fargo < Southern road was
Expenses ana taxes. 3,029,181
988,942
897,361
955,545 purchased, and the bonds assumed.
Operations, F inances, »fee.—The mileage and also the stock and debt
Net earnings___
663,085
770,190
662,959
644,598 of this company increased very rapidly in four years, the miles owned
Disbursem ents—
being 2,359 on January 1,1880, against 4,921 on January 1,1886, and
Rentals paid.............
1.69,159
199,668
188,750
212,427 the stock and bonded debt, in round figures, $69,000,000 on January 1,
Interest on debt.......
227,088
263,774
263,781
301,410 1880, against $153,915,161 January 1,1886. The company’s income
Dividends..................
89,931
■depends op the success of the large extent of new mileage, on which the
Miscellaneous..........
17,715
13,862
21,287
27,780 traffic is gradually built up, and also depends much each year on the
spring-wheat crop in the country adjacent to its lines.
Total disb’ments
503,893
477,304
473,818
541,617
On March 26,1885, the directors decided to pay 1*2 per cent semi
Balance, surplus...
159,192
292,886
189,141
102,981 annual dividend on the common stock instead of 3*2. In Sept., 1885,
—(V. 40, p. 150,181, 338, 393, 480, 716; V. 4=1, p. 23, 330, 4
they voted to issue $5,000,000 new pref. stock, selfmg it to their stock
42, p. 124, 215, 271)
holders at par, to be taken by Dec. 15, 1885.
The annual report for 188 > was in Y. 42. p. 363. The statistics in de
* <lili c a g o ..'ik G ran d T r a n k ,- Line of road from Port Huron, Mich.,
to Chicago, 330*2 miles; also uses 4*2 miles o f Chicago < West. Indiana tail were given in the Chronicle, as follows :
fe
mid 4 milesGrand Trunk Junction RR.; total operated, 339 miles. This
1882.
1883.
1884.
1885.
Is a consolidation pf roads between Port Huron and Chicago formed in Miles o p e r a te d ........
4,520
4,760
4,804
4,921
Disbursements—
Renta) s paid.............
Interest on debt........
Carried to sink’g f ’d.
Transf’d to ren’al f ’d.
Dividends.................
Rate of dividends...
30
BAlLKOÀD
STOCKS
A KD
BONDS.
[V o l . X L I I .
Subscribers w i l l confer a great favor by g iv in g Im m ed iate n otice o f an y error discovered in these T a bles.
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or
Amount Rate per When Where Payable and by pal,When Due.
par
Stocks—Last
For explanation of column headings, &c., see notes of
of
Whom.
Dividend.
on first page of tables.
Road. Bonds. Value. Outstanding Cent. Pay’ble
Okie.Mil. < St. P.—(Cont’d)—1st M.(Ia.& M .)"
£
)
230
1st mortgage (Minnesota Central).............. 7 8
49
1st mortgage (Iowa & Dakota)................... I S'®
126
234
1st M.,Ia.&Dak.Ext.($15,000 p.m .)..............j
1st mortgage (Prairie du Cbien).................
195
2d mortgage (Prairie du Chien)..........
fg s
195
s ®
Ik
Milwaukee & Western............................
130
St. P. &C. 1st M. (Riv. D.) $& &(conv.).. .
A*
75
1st mortgage, Hastings & Dakota.......
5 b j
85
1st M., Chic. & Mil. fine.........................
O I
Bonds on Lac’se & Dav. Div., for Dav. & Nw. RR. 185
212
1st mort. on S. W. Div. Western Union R R ...........
1st mort. on Chic. & Pac. Div., Chic, to Miss. Riv.. 119
1st mort. on So. Minnesota Div. ($9,000,000)....... 419
Land grant income bonds.........................................
Land grant and income bonds.................................
1st mort. on Hastings & Dakota d iv . extended .. 336
372
1st M. on Ch. Cl. D. & M...........................................
1st mort. on Wisconsin Yaliey R R ......................... 107
Prior mort.
do
......................... 107
1st mortgage, Mineral Point Division.................... 142
1st mortgage Chic. & Lake Superior Div.,.............
68
IstM.Wis. & Minn. Div. ($20,000 p. m.)............... 230
1st M., gold, on Chic. & Pac.,W. Div., $20,000 p. m. 927
Income bonds—On Bridge at Kansas City............
Terminal mort., gold, coup. orreg.(for $5,000,000)
Osh. & Miss. River RR. bonds.................................
Fargo & Southern, 1st mortgage, gold, assumed.. 119
do
incomes........................................
Chicago < Northwestern—Common stock................. 3.763
&
Preferred st’ek (7 p. c. y ’rly, not cumulative)........ 3,763
Consol, sinking fund M....................... ....................
776
Madison extension. 1st mort., sinking fund, gold. 126
1867
1864
1869
1878
1868
1868
1861
1872
1872
1873
1879
1879
1880
1880
1883
1880
1880
1880
1879
1880
1881
1881
1881
1886
1884
1871
1883
1885
1865
1871
$1,000
1,000
1,000
1,000
1,000
1,000
1,000
....
1,000
1,000
$3,198,000
» 123,000
541,000
3,505,000
3,674,000
1,241,000
215,000
3,804,500
89,000
2,393,000
2,500,000
1,000
4,000,000
1,000
3,000,000
1,000
7,432,000
238,000
1,000
1,638,000
1,000
5,680,000
1,000
6,643,000
....
1,683.000
500
1,106,500
1,000
2,840,000
1,000
1,360,000
1,000
4,755,000
1,000 18,540,000
1,000
2,000,000
1,000
4,000,000
35,000
1,000
1,250,000
....
200,000
100 31,365,900
100 22,325,454
1,000 12,900,000
2.977.500
500 &c.
OPERATIONS AND FISCAL RESULTS.
Operations—
1882.
1883.
1884.
1885.
Passengers carried..
3,956,814 4,591,232
4,904,678
4,819,187
Passenger mileage... 200,790,926 235,579,660 225,851,443 214,550,187
Rate per pass. p. mile. 2-58 cts.
2-52 ots.
2-55 cts.
2-56 cts.
Freight (tons) moved.
5,127,767 5,661,667
6,023,016 6,482,869
Freight (tons) mil’ge.945,250,159 1176605032 12477372331337721,453
1-28 cts.
A v.ra tep .ton p.müe.
1-48 cts.
1'39 cts.
1-29 cts.
$
Earnings—
$
$
$
5,499,737
5,179,078 5,927,668
5,766,843
Passenger....................
Freight....................... 14,002,335 16,365,354 16,128,964 17,101,742
1,811.794
Mail, express,< o . . . . 1,205,313
fe >
1,366,802
1,575,191
Total gross eam’gs.. 20,386,726 23,659,824 23,470,998 24,413,273
Operating expenses—
$
$
$
$
2,551,327
Maint’nce of w ay*... 2,479,429
2,548,609
2,339,635
2,430,809
Maint’nce of equip’t. 1,999,504
2,489,257
2,574,437
8,646,132
Transp’rt’t’n exp’n’st 7,023,918
8,011,533
8,102,668
733,545
Taxes..............................
589,613 614,609
702,060
150,658
Miscellaneous...........
93,609
114,029
140,829
Tot. operating exp. 12,186,073 13,778,037 13,859,629 14,512,471
9,900,802
Net earnings............. 8,200,653 9,881,787 9,611,369
59-77
58-23
59-05
5945
Pr. ct.op.ex. to earns
* Includes renewal of traek. t Including elevators, stock-yards, per
sonal injuries and damages to property, legal, insurance, rent of cars, &c.
INCOME ACCOUNT.
1882.
1884.
1885.
1883.
$
Receipts—
$
$
$
9,881,787
9,900,802
Net earnings............. 8,200,653
9,611,369
164,707
82,307
105.939
Other receipts..........
623,814
Total income
8,824,407 10,046.494 9,693,676 10,006,741
Disbursements—
$
5,373,925
5,918,608 6,096,573
Interest on debt....... 4,786,054
Divs. on both stocks* 2,461,042
3,212,895
3,321,167 2,391,039
Rate of dividend.......
7
7
7
7 on p; 4 c.
Tot. disbursem’nts 7,247,096
8,586,820 9,239,775 8,490,612
Balance for year___ 1,577,371 1,459,674
453,901 1,516,129
' A portion of these dividends was stated as payable out of the earn
ings of the previous year, as follows : In 1882. $1,218,201; in 1883,
$1,552,311; in 1884, $1,660,584, andin J885, $1,042,498.
GENERAL BALANCE AT CLOSE OF EACH FISCAL TEAR.
1882.
1883.
1884.
1885.
AjtStP.f.R—
*
—
^
$
$
$
Railroad,equipm’t& cl38,015,099 146,093,665 149,426,734 154,228,775
St’ks& b’ds own.,cost
768,846 1,161,980 1,228,283
754,792
Bills&acc’ts rec’able
2,616,295 1,550,232 1,146,059
1,452,309
1,223,043
Materials, fuel, «fee... 1,495,113
1,483,365
1,543,217
Cash on hand............
2,969,732
3,048,965
2.971,133 4,262,378
111. & Iowa coal lands
689,578
944,132
680,475
617,026
Cash due on st’k subs
............
Total assets............. 146,554,663 154,022,017 156,936,049 162,858,497
TiiM Iitip4—
hi
?
0
2
2
*
fl)
d
)
Stock, com m on........ 27,904,261 30,904,261 30,904,261 30,904261
Stock, preferred....... 16,447,483 16,540,983 16,540,983 21,540,900
Funded debt............. 89,635,500 96,272,000 100,254,000101,470,000
All otherdues&acc’ts 4,943,872
1,711,099
2,093,163
164,958
Unpaid pay-rolls, &c. 2,216,630
1,732,687
1,610,661
1,729,269
Land department...
1,787,509 1,781,907
............
............
Income account....... *3,619,408
5,079,080
5,532,981 7,049,109
Total liabilities.. 146,554,663 154,022,017 156,936,049 162,858,497
* $3,550,974 of income balance applied towards payment lor 71,019
shares common stock issued to shareholders at 50 cents on the dollar.
—(V. 40, p. 195, 213, 322, 3 3 5 , 393, 480, 716; V. 41, p. 341, 382, 392,
404, 419, 432, 446, 527, 557, 653; Y. 42, p. 155,156, 351, 3 6 3 , 383,
487.)
C h ic a g o & N o r t h w e s t e r n .—( See Mop..)—L ine of R oad—The Chic.
& Northw. operates 3,843 miles of its own roads and controls 1,318 miles
of thé Chicago St. Paul Minn. & Omaha, 311 miles of Fremont Elkhorn
& Mo. Val., and 107 of Sioux City & Pac.; total controlled, 5,579 miles.
The mileage is extensive, and is shown clearly in the accompanying
map. The main line from Chicago to East Omaha, Iowa, is 492 miles,
and this forms practically the southern boundary of the whole system,
the company having nothing to the south of that line, with the excep
tion of a few insignificant branches. At the end of the fiscal year, May
31, 1885, the Chic. & Northwestern mileage was made up in the annual
report as follows :Wisconsin Division, 555 miles ; Galena Division, 324
miles ; Iowa Division, 743 miles ; No. Iowa Division, 370 miles ; Madison
Division, 483 miles ; Peninsula Division, 376 miles ; Winona & St. Peter
Division, 448 miles ; Dakota Division, 542 miles ; total, 3,843 miles. In
July, 1884, the Blair roads, previously leased,were acquired by purchase,
but the Sioux City & Pacific and Fremont Elkhorn & Missouri Yaliey are
operated separately (418 miles) and their earnings not included in those
of C. & N. W. for 1884-85, but separately stated in the annual renort in
the Chronicle on p. 101 of V. 41.
Organization , &c.—The Chicago St Paul < Fond-du-Lac Railroad
fc
which was a consolidation of several roads, was sold in foreclosure
June 2,1859, and the Chicago & Northwestern Railway was organized
as its successor. In 1864 the company absorbed the Dixon Rock. &
Kenosha, the Gal. & Chic. Union and the Peninsular RR. of Michigan,
7
7
7
7
8
7-3
7
7 g.
7
7
5
6
6
6
7
7
7
6
6
7
5
5
5 g.
5 g5
5
8
6 g.
6
3
1%
7
7 e.
New York Office.
J. & j .
do
fc
J. < j .
do
do
fe
do
J. < j .
do
&
do
J. < j .
do
do
F. & A.
do
do
F. & A.
do
do
J.
J.
,T & j . London and New York.
.
J. < j .
fe
New York, Office.
fc
do
J. < j .
do
New York, Office.
,T < j .
. fc
J. & J.
do
do
fc
do
J. < J.
do
do
J. < j .
do
fe
do
J.
J.
do
J. & j .
do
do
J. & j.
do
do
J. < j .
fe
do
do
J. < j .
fc
do
do
.1. < j .
fc
Boston.
J. & j .
New York, Office.
J. < j .
fe
do
do
J. < j .
fc
do
do
J. & j .
do
do
J. & j .
do
do
J. & j .
do
do
J. & j.
do
do
J. & j .
do
do
A. & O.
do
do
r. & D. New York, Co.’s Office.
do
do
Q. —M.
.
do
do
Q —: r
do
A. < o.
fc
do
July, 1897
1894
1899
July 1, 1908
1898
1898
1891
Jan., 1902
1902
1903
1919
July 1, 1909
Jan. 1, 1910
Jan. 1, 1910
1890
Jan. 1, 1890
Jan. 1, 1910
July 1, 1920
July 1, 1920
Jah. 1, 1909
1910
July 1, 1921
July 1, 1921
Jari. 1, 1921
July 1, 1921
July 1, 1914
1891
Jan. 1, 1924
1895
Dec. 24,1885
Mch. 24, 1886
Feb. 1, 1915
April 1. 1911
and has since absorbed by consolidation a large number of other roads
including those which were operated as “ proprietary roads,” and tni«
process will go on till all those roads are absorbed into the main company.
In December, 1882, a controlling interest was acquired in the stock of
the Chic. St. Paul Minneapolis & Omaha Co. by the purchase of 53,800
shares of preferred and 93,200 shares of com. stock.
In July, 1884, the leased lines in Iowa (Blair roads) were acquired
on the terms stated in the Supplement of June, 1885, and prior issues.
The fiscal year ends May 31. The annual meeting is held early in June.
Stock and B onds.—Of the common stock, $10,006,300 was held in
the company’s treasury on May 31. 1885, and is presumably held there
still, making the whole common stock listed at the Stock Exchange
$41,257,700. Preferred stock has prior right to 7 per cent; then
common entitled to 7 ; then preferred has a further prior right to
3 per cent; then common to 3 ; then both classes share. But the pre
ferred stock has not yet received more than 8 per cent in any year,
against 7 per cent paid on the common. Dividends since 1875 (prior to
the current year) have been: In 1876, 2*2 onpref.; in 1877,3*s onpref.;
in 1878, 7 on pref. and 5 on com.; in 1879, 7 on pref. and 5 on com.;
in 1880. 7 on pref. and 6 on com.; in 1881, 7 on pref. and 6 on com.; in
1882, 7% on pref. and 7 on com.; in ’ 83 and ’84,7 on com. and 8 on pref.
in 1885, 6*2 on common and 7*a on preferred.
Prices of stock since 1877 have been as follow s: Common in 1878,
32*2®55*4; in 1879, 495s®94*2; in 1880. 87*a®130; in 1 8 8 1,117®136;
in 1882,124® 150%; in 1883. 115*4®140*8; in l884, 81*2® 124; in 1885,
843a®115%; in 1886 to April 16,104*2® 111%. Pref. in 1878,59%®79*a
in 1879, 7678® 108; in 1880, 104® 146*2; in 1881, 131*8®147*2: in
1882,136S175; in 1883,134®157; in 1 884,117®149*a; in 1885, 119%
®13978! in 1886 to April 16, 135® 142.
The sinking fund bonds of 1879 are secured by a deposit of mort.
bonds, on the new roads acquired at the rate of $15,000 per mile, and the
terms under which these are issued were published in V. 29, p. 277.
Of these bonds so far issued, $6,305,000 are 6s and the balance
5s. There are several small issues of bonds (all less than $200,000
each) in addition to those in the table above, viz.: Beloit & Madison
RR., $176,000. 7s, due 1888; Minnesota Valley RR., $150,000, 7s, due
1908 ; Plainview, $100,000, 7s, due 1908; Peninsula Railroad (Mich.),
$152,000 7s, due 1898.
The $10,000,000 debenture bonds were issued to pay for the Chicago
St. Paul Minneapolis & Omaha stock; the sinking fund for these bond»
is $200,000 per year from May, 1888, if they can be redeemed at 105.
In June, 1884, the new issue of $6,0u0,000 5 per cent debenture bonds
was authorized, of which $1,966,500 went for the purchase of Blair
roads and the balance to be used for improvements as required. Any
future mortgage on the property of the company owned at date of these
bonds, shall include them.
L and Grant.—The lands of the company have been acquired by the
purchase of the Winona & St. Peter and other roads that have been
consolidated. The Commissioners’ report for 1884-85 showed that thetotal consideration for the lands and lots sold in that year amounted to
$588,683. Total cash receipts were $653,190. The statement of amounts
secured to be paid to the company by outstanding contracts of sale in
force at the end of the fiscal year showed a total of $1,124,180.
TABLE OF LANDS UNSOLD FOR TEARS ENDING MAT 31.
Name of grant.
1883
1884.
1885.
Minnesota...........................
784,532
685,577
626,811
Michigan..................................... 485,'677
461,847
443,29®
308,723
303,165
Wisconsin.................................... 320,125
Total.....................................1,590.334
1,456,147
1,373,272
Operations, F inances, &c.—The Chicago & Northwestern Railway
has pursued the policy of extending rapidly its lines, including thoso
reaching far west to Dakota, and since 1879 has raised its money in
great part by the sale of 5 per cent bonds. The stock had not been
rapidly increased until recently, by the issue of new stock for stocks of
proprietary roads and a large nominal surplus has been rolled up in
the balance sheet.
The gross and net earnings for seven months, July to December, 1885,
inclusive, were shown in an article at much length in the Chronicle, V .
42, p. 324, the net being $7,396,611 in 1885, against $6,738,096 in 1884.
The latest annual report (1884-85) was in the Chronicle, V. 41, p.
100 .
The following were the earnings, expenses, &c.:
OPERATIONS AND FISCAL RESULTS.
1881-82.
1882-83.
1883-84.
1884-85.
Tot. miles oper’d
3,278
3,584
3,763
3,843
Operations—
Pass’gers carr’d.
6,754,717
7,968,560
8,623,483
8,403,884
Pass germileage 205,574,178 248,856,303 256,386,389 231,090,788R’te p.pass.p.m.
2-52 cts.
2-46 cts,
2-40 cts.
2-38 cts.
Fr’ght(tns) mv’d
8,190,893
7,874,665
8,453,994
8,235,127
Fr ght (tns)m’g e l l 92,188,039 1183,829,358 1350,173,773 1416,789,205
Rate pr.ton p.m.
1-47 cts.
1-42 cts.
1-31 cts
1-19 cts.
Earnings—
$
$
$
$
Passenger..........
5,171,423. 6,119,616
6,153,071
5,498,111
Freight............. 17,525,134 16,894,352
17,677,866
16,917,394
Mail, express,&c
988,099
1,067,867
1,189,687 1,086,551
Gross eam’s.
23,684,656
24,081,835
25,020,624
23,502,056>
BONDS
STOCKS AND
RAILROAD
A p r il , 1886.1
32
RAILROAD
STOCKS AR D
BORDS,
[Vol. XLII,
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered In tbese Tables.
Bonds—Princi
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount Rate per When Where Payable , and by pal,When Due.
For explanation of column headings, &c., see notes of
Par
of
Stocks—Last
on first page of tables.
Road. Bonds Value. Outstanding
Whom.
Cent. Payable
Dividend.
Ohie.di Northwest.—(Continued) —Chic & Mil., 1st M
85
$1,000 $1.700,000
J. & J. New York, Co.’s Office. July 1, 1898
7
Menominee River, 1st mort., guar..........................
25 1876
do
560.000
J. & J.
do
7
July 1, 1906
Menominee extension, 1st mortgage, gold ............ 120 1871 500 &c.
do
2,549,500
do
7 g. J. & D.
June 1, 1911
Gen. cons mort.. gold, coup, orreg. ($48,000,000) 1,058 1872 500 &c. 12,343,000
do
do
Deo. 1, 1902
7 g. J. & D.
Winona & St. Peter, 1st mort., guar by Chic.&NW. 137 1870-1 1,000
do
2,069,000
J. & J.
7
do
Jan. 1, 1887
do
2d mort., guar, by Chic. & N.W. 137 1870-1 1,000
1,592,000
M. & N.
do
do
7
Nov. 1, 1907
do
1st M. exten. gld., land gr., s. f ..
175 1871 100 &c.
4,080,500
do
do
Dec. 1, 1916
7 g. J. & D.
Iowa Midland, 1st mort., guar, by Chic. & N. W ..
1,000
75 1870
1,350,000
A. & O.
do
do
8
Oct. 1, 1900
Northwestern Union, 1st mortgage, gold.............
62 1872 500 &c.
3.365.000
do
do
June 1, 1917
7 g. M. & S.
Rochester & No. Minnesota, 1st m ortgage............
24 1878
....
200,000
M. & 8.
7
do
do
Sept. 1, 1908
Chic. Mil. & N. W., construction bonds.................
....
....
601.000
M. & N.
6
do
do
Nov. 1. 1905
Chicago & Tomah, 1st mort., gu ar.........................
___
1,528,000
M. & N.
6
do
do
1905
Milwaukee & Madison. 1st mort., guar..................
1,000
80 1880
1,600,000
6
M. & S.
do
do
Sept. 1, 1905
Bonds (1st morts. as collateral) $20,000 p. m .......
1,000
1886
5,000,000
4
do
do
1926
Sink. fd.bds.(l st M. as collateral) ($15,000 p. m .).. . . . . 1879
1,000
14,6’.5,000
5 & 6 A. & O.
do
do
Oct. 1, 1929
S. f. debenture bonds (for C. St. P. M. & O. stock)
. . . . 1883 l,000&c 10.000,000
5
M. & N.
do
do
May 1, 1933
Debenture bonds of 1909 (for $6,000,000)............ . . . . 1884 1.000&C
4,000,000
5
M. & N.
do
May 1, 1909
do
Ottumwa C.F.& St.P., 1st M., guar. ($25,000 p.m.)
64 1884
1,000
1,500,000
5
M. & S.
do
do
Mar. 1, 1909
Des Moines & Minneapolis RR. 1st mort. Bonds...
1,000
58 1882
600,000
F. & A.
7
do
do
Feb. 1, 1907
Escanaba & Lake Superior RR., 1st mort............
3t> 1881
1,000
720,000
6
I. & J.
do
July 1, 1901
do
Dakota Central RR., 1st mort.................................
....
....
1,007,000
6
M. & 8.
do
do
Sept. 1, 1907
do
1st M.. Southeast Div. (for $2,000,000).
....
....
2,000,000
6
M. & N.
do
do
Nov. 1, 1907
North. HI., 1st M. ($20,000 p. m.) guar. C &N. W.
1,000
75 1885
1,500,000
5
M. & S.
do
do
Mar. 1, 1910
Other small issues (see remarks on preced’g page)
....
873,000
do
do
Cedar Rapids & Missouri River, 1st mort.............
70 1861 50Ö &c.
700,000
F. & A.
7
do
do
Aug. 1, 1891
do
1st mort__ ___ _
58 1863 500 &c.
582,000
7
F. & A.
do
do
Aug. l) 1894
do
1st mort.............. 146 1866 500 &c.
2,332,000
M. & N.
7
do
do
May, 1916
Chicago Iowa & Nebraska, mortgage.....................
82 1863 500 &c.
129,000
F. & A.
7
do
do
Aug. 15,1892
Maple River 1st mortg...........................................
....
402,500
7
J. & J.
do
do
July 1, 1897
Fremont Elkhom & Mo.Val.,Consol.bonds...........
31Ï 1883
1,000
*5,725,000
6
A. & 0.
do
do
Oct. 1, 1933
do
do
equipment bonds............... .
....
....
....
440,000
6
do
do
Mo.V & Blair RR.Br’ge, 1st, red’ble aft.’93............ . . . . 1883
....
1,000,000
6
J. & J.
do
do
Jan. 1, 1923
Sioux City & Pacific, 1st mortgage......................... 102 1868 500 &c.
1.628.000
6
J. & J
do
do
Jan. 1. 1898
1881-82.
$
3,574,419
1,786,140
6,756,517
522,558
1882-83.
$
3,372,994
2,322,099
7,758,638
618,785
1883-84.
$
3,590,917
2,448,297
8,429,121
672,621
.
1884-85 was formerly the Chicago & Southwestern, and was foreclosed and pur
$
chased by this company, and consolidated June, 1880. The present
2,939,253 Chic. R. I. & Pacific was a consolidation June 4,1880, with $50,000,000
2,193,224 stock authorized, and a scrip dividend of 100 per cent to the holders of
7,970,502 Chic. R. I. & P. stock. The fiscal year ends March 31, and the annual
690,928 election occurs in June.
S
the
dividends
T ota l.............. 12,639,634 14,072,516
13,793,907 as tock and B onds.—Prior to 1877current yearp ercen t; in were paid;
15,140,956
follows since
viz.: in
1879, 10
Net earnings___ 11,045.022
10,009,319
9,708,149 in 1880, 8*2 cash 1876,100 per cent inand 1878, 81881, 1882,1883, 1884
9,879,668
and
stock; in
58*44
P.c. exp. to earn.
53*37
60*51
58*69
and 1885, 7. Range of prices of stock was as follows since 1876. viz.: in
INCOME ACCOUNT.
1877, 82*3® 105*2; in 1878, 98?s®122; in 1879, 119®150*2; in 1880,
1881-82.
1882-83.
1883-84.
1884-85 to July, 149®204; July to Dec. (new stock) 100*2® 143 ; in 1881,129
® 14858; in 1882, 122®140*4: in 1883,116*3®127*4: in 1884, 100*4®
Receipts—
$
$
$
$
Net earnings___ 11,045,022
10,009,319
9,879,668
9,708,149 126%; in 1885.105 «132; in 1886, to April 16. 124*2®131.
The road from Minneapolis west to the junction with Bur. C. R. < N.
fc
Disbursements—
$
$
$
$
Rentals paid___
1,569,618
1,570,948
1,568,704
*28,567 line is built under the charter of the Wisconsin Minnesota & Pac. Com
3,999,208
Interest on debt
4,288.633
4,527,235
*5,064,534 pany issued by the old Territorial Legislature. The W. M. & P. Co. issues
Dividends..........
2,586,637
2,890,337
2,939,469
*3,981,348 its bonds running for 50 years, beariag 6 per cent interest, at the rate of
$20,000 per mile, of which $5,000 per mile is for equipment. These
Rate on pref___
8
8
7*4
8
bonds are deposited by Rook Island with the United States Trust Co.,
Rate on comm’n
6*3
7
7
7
Miscellaneous ..
98,120
98,120
83,000
58,000 and in lieu of them the Rook Island issues its own bonds for an equa 1
amount, but bearing 5 per cent. The difference in interest as it aocu Tot. disb’m’ts. $8,253,583
$8,848,038
$9,118,408
$9,132,449 mulates is to be invested in Rock Island bonds; these bonds m a y be
redeemed at 105 after July 1,1894.
Balance, surplus $2,791,439
$1,161,281
$761,260
$575,700
Lands.—The sales in 1884-5 amounted to 4,032 acres, for $44,011,
* On absorption of Iowa leased lines, ntals eeased and interest and the average price being, therefore, nearly $10 91 per acre. The bills
receivable were (March 31,1885) $905,927. The unsold lands of the
dividend charges increased.
company comprise only about 18,652 acres.
GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR.
Operations, F inances, &c.—The company has been very successful
1882-83.
1883-84.
1884-85.
and well
including scrip dividends, has paid its stock
Chic. & N. W. —
Road & equip.. $80,420,032 $102.710,425 $126,853,870 holders managed, and, The receipts from lands are how practically
handsomely.
Other companies
do
55,668,872
39,486,916 35,539,234 ended. The management is secretive and no monthly reports of earn
Real estate in Chicago............
200,000
200,000
200,000 ings are issued.
Bonds owned...........................
2,913,219
508,026
*360,242
The mileage, earnings, &c., for four years ending March 31, have
Stocks owned............................
20,323.313 tl2,282,159 been as follows :
Land grant investments........
730,000
1,221,000
1881-2.
1882-3.
1883-4.
1884-5.
Bills and accounts receivable.
1,245,918
1,192,626
1,890,841 Miles owned & oper..
1,381
1,381
1,384
1,384
Materials, fuel, &c...................
2,526,482
2,205,359
1,808,567
Earnings—
$
$
$
$
Cash on hand............................
2,710,498
1,964,698
3,807,191 Passenger.....................
2,853,331 3,333,069
3,313,448 3,023,884
Trustees of sinking fund.......
1.525,000
1,730,002
1.934.004 F reight..
9,687,097
7,928,236
8,056,316 8,144,142
Total.................................. f $147,210,021 $171,051,394 $185,897,108 Mail,express,r’nts,&e
726,215
928,598
1,165,750 1,038,885
Liabilities.
Stock, common........................ $16,229,916 $26,617,366 [$41,374,866
Total gross eam ’gs. 13,266.643 12,189,903 12,535,514 12,206,911
Stock, preferred......................
22,323,190 22,325,455
Total expenses....
7,322,862
7,109,817 7,298,002
7,160,»2 4
22,325,454
Stocks of propriet’ry roads,&o
22,463,400
22,550,100
11, 220,000
Bonds |......................................
|
69,821,000
80,891,000 91,460,500 Net earnings.............
5,943,781
5,080,086 5,237,512 5,046,587
Bonds purchased.....................
460.000
P.c of op. ex. to earn.
55*20
58*33
58*22
58*69
Divid’ds declared, not yet due
1,023,406
1,027,772
1,544,221
INCOME ACCOUNT.
Sinking funds p a id ..................
1,525,000
1,730,000
1,934,000
Current bills, pay-rolls, & c....
1,965,653
1,880,317
Receipts—
$
$
$
$
1,690,680
Uncollected coupons, &o........
82,668
80,651
5,943,781
5,080,086 5,237,512 5,016,587
113,262 Net earnings.............
Rentals of roads in la., not due
530,364
562,543
From land departm’t
650,000
560,000
470,000
330,000
Bonds unsold, &e.....................
284.000
310.000
537.000 Miscellaneous............
13,208
............
............
............
Note of Consol. Coal C o..........
300.000
275.000
275.000
Land income account.............
1,033,565
2,938,675
Total income.......
6,606.989
5,640,086
5,707,512 5,376,587
2,954.246
Accrued interest not d u e .......
675,395
675,395
Disbursements—
$
$
$
$
705,060
Miscellaneous...........................
66,601
Rentals p a id .........
327,593
304,363
301,121
301,121
Balance income account........
8.425.863
9,187.120
950,000
950,000 1,002,350 1,094,750
9,762.819 Interest on d eb t.......
2,937,186
2,937,186
2,937,186 2,937,186
Total.
$147,210,021 $171,051,394 $185,897,108 Dividends..................
Rate per cent............
7
7
7 __
7
2,215,000
1,300,000 1,200,000
750 000
•Includes general consol, gold bonds, $37,000; bonds of sundry Add. and imp. acc’t..
Miscellaneous..........
125,327
147.595
177,784
196’344
proprietary roads, $171,242; Iron River Furnace bonds, $2,000; Aurora
Branch bonds, $150,000.
5,639,143
5.618,441 5,279’401
t Includes Chic. St. P. M. & O. stock, $10,315,659; F. E & M. Y. RR. Total disbursements. 6,555,106
stock, $1,966,500. Also owns C. & N. W. common stock, $10,006,816, Balance, surplus . . . .
51,883
943
89,071
97,186
and preferred, $2,234, but these items are included in the amounts given —(V. 40, p. 183, 625, 684; V 41, p. 5, 2 3 ; V. 42, p. 479.)
on other side of the account.
Chicago & St. L o u is.—Chicago to Pekin, III, 150 miles. This is
i Including $10,006,816 in company’s treasury.
0 Including live bonds in sinking funds, which amounted May 31.1885. the title of the company organized in March, 1885, as successor df the
Chicago St. Louis & Western, which had been formed in Jan., 1884, as
to $838,500.
* ’
’
—(Y. 40, p. 226, 363, 684; V. 41, p. 76, 1 0 0 , 101, 255, 272, 685; V. 42. successor of the Chicago Pekin & Southwestern. Bonds offered for sale
p. 2 2 ,3 0 4 ,32 i, 338,393,487.)
’
’ in New York July, 1885, by R. P. Flower & Co. (See V. 41, p. 355, 415.)
Chicago St. L o u is & P ittsb u rg .—The mileage is as follow s:
C h ic a g o R o c k I s la n d & P a c i f i c .—Line of R oad .—Owns from Columbus, O., to Indianapolis, Ind., 187 miles; branches—Bradford June.,
Chicago to Council Bluffs, 500 miles; Davenport, la., to Atchison, Kan. 0 .,to Chicago, HI., 231 m.; Richmond, Ind., to Anoka June., Ind., 102 m.;
345; Atchison Junction to Leavenworth, Kan., 21*5; Washington, la., to Peoria Junction, Ind., to HI. State Line, 61 m.; Indianapolis to Kokomo
Knoxville, 77*5; South Englewood to South Chicago, 7*5; Wilton to (operated jointly with Wab. St. L. & Pac.) 55 m.; total operated, 635 m.
Muscatine, 12*5; Newton to Munroe, 17; Des Moines to Indianola and
This is the reorganization (March 20, 1883,) of the Columbus Chicago
Winterset, 4 7 ; Menlo td Guthrie Centre, 14*5; Atlantic to Audubon, & Indiana Central road, sold in foreclosure on Jan. 11, 1883. The
24*5; Atlantic to Griswold, 14*7; Avoca to Harlan, 11*8; Avoca to Car- C. C. & I. C. company was formed Feb. 12,1868, by consolidation of
son, 17*6; Mt. Zion to Keosauqua, 4*5 ; Wilton to Lime Kilns, 5. Leased: the Col. & Ind. Cen. and Chic. & Gt. East, railroad companies, and was
Cameron, Mo., to Kansas City, 54; Bureau Junction to Peoria, 47 miles* leased to the Pitts. Cin. & St. Louis Railway Co. Feb. 1,1869, by which
Keokuk to Des Moines, 162. Total operated, 1,384 miles.
company it was operated. After default in 1875 and much litigation,
Organization— The Chicago & Rock Island RR. was chartered in a plan of settlement with the Penn. RR. was approved by a majority
Illinois Feb. 7,1851, and opened from Chicago to the Mississippi River of bondholders in 1882 and carried out. The preferred stock is entitled
July, 1854. The extension from the Miss, to the Mo. River was built to 6 per cent yearly if earned, and is clearly cumulative. There was held
by the former Mississippi & Missouri RR. of Iowa, which was foreclosed by the Penn. RR. and the Penn. Co. a large amount of the 1st consol,
under mortgage in 1866. The Illinois and Iowa roads were consolidated mortgage and the stocks, which is presumably still held by those
August 22,1866, under the present title, and the main line was extended companies. In addition to the bonds given in above table there are
to Council Bluffs June, 1869. The Iowa Southern & Missouri Northern several smaller amounts of other issues aggregating $28,177
Expenses—
Maint’ce of way
“
cars, &c
Transp. & miscel
Taxes.................
RAILROAD
APBIL, 1886,]
STOCKS
AND
33
BONDS,
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered In these T ables.
Bonds—Prinoi
IN I EREST
DESCRIPTION.
pal,When Due.
Miles Date Size, or
Amount Rate per When
Stocks—Last
of
par
For explanation of column headings, &c., see notes of
Outstanding Cent.
Dividend.
Whom.
Road. Bonds Value.
Pay’ble
on first page of tables.
Chicago dt Northwestern—(Continued)—
102
Sioux City & Pacific 2d mort. (Gov’t subsidy)....
do
pref. stock......................................
1,384
Chicago Bock Island dtPac—St’ck (for$50,000,000)
636
1st mortgage, coup, or reg.....................................
Chlc.& Southw.. IstM.g. (g’d in cur. by C.R.I.&P.) 271
Exten. and collât, bonds ($20,000 p.m.) cp. or reg. 205
Chicago dt St. Louis—1st mortg................................. 150
582
Chicago St. Louis dt Pittsb.—Common stock.............
Preferred stock (6 per cent cumulative)............... 582
1st mortgage, consil. gold ($22,000,000).............. 580
1st M. Chic. & G’t East. (Chic, to Logansport).... 117
do Col. & Ind’polis Cent. (Col. to Ind’s, Ind.).. 208
93
do Union & Logan sp’t (U’n City to Logansp’t)
do Cinn. & Chic. Air Line(Richm’d to Logans.) 107
2d M. Col. & Ind’polis Cent. (Cov.to Union City).. 208
Chic. St. Paul Min’polis dt Omaha—Common stock.. 1,280
Preferred stock.......................................................... 1,280
Consol, mortgage ($15,000 per mile)......................
Chic. St. Paul & Minn., 1st mort., gold, coup........ 177
North Wisconsin, 1st mortgage............................... 120
605
St. P. & Sioux City, mort., gold, for $7,000,000---23
St. Paul Stillwater & Taylors’ Falls, 1st mort.......
12
Hudson & River Falls. 1st mort..............................
Minneapolis East RR., 1st mort., guaranteed.......
Chicago dt West. Indiana—1st mort (sinking fund).
General mortgage, gold, sinking fund..................
413
Chicago dt West Michigan—Stock, n e w .....................
1st mortgage, New Buff, to St. Jo......................... 127
36
Gr. Rap. Newaygo & Lake Sh., 1st mort, coup—
46
do
2d M. on 35 m. & 1st on 11 m., coup
413
General mortgage ($12,000 per mile).....................
86
Cincinnati < Eastern—1st mortgage......................
k
1877
1869
1884
1885
1883
1864
1865
1864
1880
1878
1880
1879
1878
1878
1879
1879
1882
1869
1871
1875
1881
$500&c. $1,628,320
169,000
100 41,960,000
LOOO&c 12,500,000
5.000,000
100 &c.
3,960,000
1,000
1,500,000
1,000
7,313,643
100
100 17,442,050
1,000 13,435,000
224,000
2,631,000
1,000
715,000
108,500
780,000
100 18,559,660
100 11,259,933
11,970,170
1 .0 0 0
3,000,000
500 &c.
800,000
1,000
6,080,000
1,000
334,800
125.000
75,000
2,445,000
1,000
6,396,666
1,000
6,796,800
480.000
1,000
576,000
1,000
24,000
500 &c.
2,765,000
1,000
■198.100
The annual report of this company for the year 1885 was pub
lished in the Chronicle of April 24, to which reference should be made.
The report says : “ As will have been noticed, the freight earnings in
creased $257,454. This was the result of an increase of 514,533 tons in
the tonnage. The total tonnage was 3,031,595 tons, as against 2,517,062 tons ia 1884. Of the increase in the tonnage, 79,379 was in the
local and 435,154 in the foreign or competitive traffic. The increase was
mainly in grain, coke, coal, ore and manufactured articles, while a con
siderable traffic was also developed in the transportation of dressed
meats eastbound ; but the freight earnings failed to show a proportionate
gain, owing to the g< ne’ al demoralization in rates that prevailed during
the greater part of the year, and which resulted in your road receiving
an average rate per ton per mile of but 5-2 mills, being a decrease of "8
mill, or 13-33 per cent.”
OPERATIONS AND FISCAL RESULTS,
1882.
188?.
I t 84.
18^5.
Miles of r’d operated
580
635
635
635
-Operations—
Passengers carried..
1,118,516 1,228,701 1,186,779 1,061,091
Passenger mileage
46,183,683 48,146,452 43,891.74 4 46,840,896
Rate $ pass. » mile
2-44 cts.
2-42 ots.
2-32 cts.
2 21ets.
Fr’ght (tons) carried
3,001,619 2,782,033 2,-’>
17,062 3,031,591
FFght (t’ns) mileage 547,861,385526,622,269 484,716,894612,653,872
Ave. rate $ ton $ m.
0 66 cts.
0-72 cts.
0 60 cts.
0 52 cts.
Earnings—
$
$
$
$
1,128,909
1,163,407
1,134,689
1,036,077
Passenger............. ..
Freight!...... .............
3,636,669
3,781,107 2,902,433 3,159,887
357,365
349,406
359,718
37 <,632
Mail, express, &c___
Total gross earns
Op, exps. and taxes.
5,122,943
4,419,357
5,293,920
4,335,964
4,396,840
3,602,213
4,567,596
3,807,645
$703,586
$957,956
$794,627
86-27
81-90
8193
INCOME ACCOUNT.
Beceipts—
1883.
1884.
Net earnings.................. .
$957,956
$794.627
26,720
1,972
Interest.................................
Other receipts.....................
297
78,073
$759,951
83-36
Net earnings.............
P.c.of op.ex.to earns.
Total income.....................
Disbursements—
Rentals paid.........................
Interest on debt..................
Net C.,C. & I. C. for 3 mos..
Miscellaneous.......................
1885.
$759,951
............
$984,973
$874,672
$759,951
$15.918
663,363
120,633
............
$21,224
1,079,602
............
..........
$21,224
1,079,241
............
17,565
Total disbursements........
$799,914
$1,100,826
$1,118,030
Balance.......................... ....snr.$185,059 def. $226,154 def. $358,079
—(Y. 40, p. 363, 539; Y. 42, p. 364.)
C h ic a g o St. P a u l M in n e a p o lis Sc O m a h a .—
-(See map Chicago
& Northwestern.) Mileage: Eastern Div.—Eiroy to St. Paul, 196 miles;
River Falls Branch, 25 miles; Stillwater Branch, 4 miles; South Stillwater
Branch 4 miles; Eau Claire Branch, 3 miles; Neillsville Branch, 14 miles;
St. Paul to Minneapolis, 10 miles; total, 256 miles. Northern D ivisionNorth Wisconsin Junction to Bayfield, 178 miles ; Ashland Junction to
Ashland, 4 miles; Ashland Shore line, 1 mile; Eau Claire to Chicago
Junction, 81 miles; Superior Junction to West Superior, 69 miles; total,
333 miles. St. Paul & Sioux City Division—St. Paul to Sioux City, 269
miles; Minneapolis to Merriam Junction, 27 miles; Lake Crystal to El
more, 44 miles; Heron Lake to Pipestone 55 miles; Sioux Falls Junction
to Salem, 98 miles; Luverae to Doon, 28 miles; total, 521 miles.
Nebraska Div.—Covington to Omaha, 126 miles; Coburn June, to Ponca,
16 miles ; Missouri River transfer, 2 miles; Norfolk Branch to Emerson.
46 miles; Wakefield to Hartington, 34 miles; total, 224 miles. Total
owned, 1,334 miles. Proprietary road, 5 miles. Total of all, 1,339 miles.
This, was a consolidation July, 1880, of the Chicago St. Paul & Minnea
polis (formerly West Wisconsin), the North Wisconsin, and the St. Paul
& Sioux City. The St. Paul & Sioux City 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. The St. Paul Still
water & Taylor’s Falls was consolidated with this company; also the
Worthington Sioux Falls & Iowa and Covington & Black Hills.
Preferred stock has a prior right to non-cumulative dividend of 7 per
cent from net earnings ; but common is never to receive more than is
paid on preferred. The Chic. St. Paul & Minneapolis 1st mort, is a 2d
on the lands; the land mort, a 2d on road; but no foreclosure can be
had except by default on 1st mortgage.
In November, 1882, a controUin¿interest in the stock was purchased
for tjie Chicago & Northwestern Railway by the acquisition of 93,200
shares of common at an average price of 48-40, and 53,800 shares of
preferred at an average of 104-04^—
the total cost being $10,503,959,
which stock is held as an asset of the Chic. & Northwestern Company.
A preliminary report for 1885 was given at length in the Chronicle
o f Feb. 27,1886. V. 42, p. 257.)
Report for 1885 was in Chronicle, V. 42, p. 429. The land sales in
1885 were 121,045 acres for $516,951, including lots; land contracts and
notes on} hand Deo. 31,1885, $2,295,848; lands undisposed of, 837,079
acres.
6
313
1%
6
7
5
6
J. < j . U.S. Treas., at maturity
fc
A. < 0. New York, Co.’s Office.
fc
Q —:?. New York, Co.’s Office,
J. < j .
fe
do
do
M. tte N.
do
do
J. & J.
do
do
&
New York.
M. < S.
Jan. 1, 1898
April 5, 1886
May 1, 1886
July 1, 1917
Nov., 1899
July 1, 1934
Mar. 1, 1915
5 g. A. <e 0 . N. Y., Union Trust Co.
t
Various
do
do
7
do
do
7
&
J. < J.
do
do
7
A. & 0 .
do
do
7
F. <e A.
t
do
do
M. < N.
te
7
April 1, 1932
1893 & ’95
Nov., 1904
Dec.. 1905
Aug, 1, 1890
Nov., 1904
....
....
3
6
6
6
6
7
8
7
6
6
2
8
8
7
5
7
gg.
g.
g.
J. <e J.
t
J. <e D.
t
M. <e N.
t
te
J. < J.
A. <e O.
t
J. < J.
fe
J. & J.
t
J. <e J.
M. <e N.
t
Q. — M.
F. & A.
M. <e S.
t
J. < J.
fc
te
J. < D.
t
J. <e D.
fc
J. < J.
Jan. 20,1886
June 1. 1930
May 1, 1918
Jan. 1, 1930
April 1, 1919
Jan. 1, 1908
July 1, 1908
Jan. 1, 1909
Nov. I, 1919
Deo. 1, 1932
Feb. 15, 1886
Sept. 1889
July 1, 1891
June 1, 1905
Deo. 1,1921
Sardinia. O. Receiver. .Tnlv 1. 1006
New York, Office,
do
do
do
do
do
do
do
do
do
do
do
do
do
do
N. Y., Drexel, M. & Co.
do
do
Boston.
Bost.. Treasurer’ s office.
N. Y. Union Trust Co.
do
do
Earnings, &c., were as follows ;
1882.
1,150
Miles operated.........
Earnings—
$
1,311,217
Passenger.................
3,478,624
Freight ...................
172,361
Mail, express, & o....
1883.
1,280
$
1,470,558
3,843,948
200,778
1884.
1,318
$
1,430,711
4,132,530
221,690
1885.
1,340
$
1,305,515
4,255,393
253,897
4.962,202
3,240,787
5,515,284
3,623,827
5,784,931
4,007,022
5,814,810
3,721,151
1,891.457
1,721,415
65-70
65-31
INCOME ACCOUNT
1883.
1882.
$
$
1,891)457
1,721,415
547,777
546,825
153,623
120,866
1,777,909
69-26
2,093,659
63-99
1884.
$
1,777,909
651,125
212,221
1885.
$
2,093,659
721,995
33,235
"2,592,857
$
35,564
1,222,371
770,476
(7)
12,356
2,641,255
$
49,174
1,320,146
787,976
(7)
13,065
2,848.889
'
$
62,982
1,334,324
675,408
(6)
12,524
Tot. gross earnings
Oper’g expens.& txs.
P.c. of op. ex. to earn.
Beceipis—
Net earnings______
Net from land grants
Other receipts..........
Total in com e....
Disbursements—
Rentals paid.............
Interest on debt.......
Div. on pref. stock.
Rate of aividend . . . .
Loss on prop. roads.
2,389,106
$
27,736
1,134,751
735,397
(7)
2,040,767
2,170,361 2,035,238
1,897,885
Tot. disbursem’ts
__
I M
552,090
470.894
763,651
491,221
Balance surplus.
- ( V . 40, p. 350, 363, 508, 5 3 8 ; V. 41, p. 355, 434, 653; V. 42, p. 257,
4 29.)
Chicago Sc "Western In d ia n a .—Owns from Dolton a,nd Ham*
mond, 111., to Chicago, with a belt railroad and branches, with ware*
houses, elevator, &c., 48 miles of roads and 132 miles of track in all,
including 2d, 3d, 4th and siding track, and about 400 acres of real
estate. This company leases its road for right of way into Chicago and
terminal facilities therein to the Wabash, the Gr. Trunk of Canada, the
Chicago & East. Illinois, the Chic. & Atl. and Louisv. New Albany &
Chic, roads; the annual rentals stipulated amount to $667,450, exceeding
the interest charge considerably, which surplus is paid to the lessee
owners, after deducting all legitimate charges. In 1882 a consoli
dation with the Sioux City & Western Indiana Railroad and the
Western Indiana Belt road was made with stock of $5,000,000 and
bonds limited to $10,500,000; the bonds are liable to be redeemed
after 1885 at 105 by a sinking fund, which is provided for by increased
rentals to be paid for that purpose. (V. 40, p. 181, 7 6 2 .)
C hicago Sc "West M ic h ig a n .—Owns from Lacrosse, Indiana, to
Pentwater, Mich., 209 miles; »ranches—Holland Junction to Allegan,
23 miles; Holland to White Cloud, 70 miles; Fruitport to Muskegon,
10 miles; Kirk’s Junction to Pickand’s Junction, 3 miles; Muskegon,
to Port Sherman, 6 miles; Woodville to Muskegon River, 17 miles;
Mears to Hart, 3 miles; B. R. Junction to Big Rapids, 51 miles; White
River Junction to Baldwin, 20 miles: total operated, 413 miles. Organs
ized as successors of Chicago & Michigan Lake Shore Jan. 1,1879, and
consolidated in Sept., 1881, with the Grand Haven road, 57 miles,
Muskegon to Allegan, and the Grand Rapids Newaygo & Lake Shore, 46
miles, from Grand Rapids to White Cloud.
Earnings, &c., have been as follow s:
FISCAL RESULTS.
1885.
1884.
1882.
1883.
413
413
410
413
Total miles operated..........
$
$
$
$
Total gross earnings......... 1,503)433 1,550,098 1,469,667 1,297,301
948,513
.1,047,788 1,185,224 1,000,690
Operat’g expenses & taxes
364,874
455 645
69-66
76-46
INCOME ACCOUNT.
1882.
1883.
Beceipts—
$
$
364,874
Net earnings....................... . 455,645
7,559
7,068
Other receipts....................
468,977
6809
•-348.788
73 11
1884.
9
„
468,977
2,217
1885.
$
348,788
4,072
372,433
$
217,024
184,506
471,194
$
222,085
215,257
352,860
$
224,080
123,004
Net earnings.......................
P. c. of oper. ex.to earn’gs
Total income................. . 462,713
Disbursements—
$
Interest on d eb t........ ........ . 191,423
Dividends............................ . 153,580
347,084
437,342
401,530
Total disbursements... . 345,003
Balance.............................. suri 17,710 def 29,097 sur.33,852 sur. 5,776
- ( V . 40, p. 4 5 2 , V. 42, p. 186, 4 86.)
C in cin n ati Sc E a stern .—June 30, 1884, operated from Idlewild,
O., to Wharton, O., 99 miles; Junction to New Richmond, 15 miles;
leases Col. & Maysv., 18 miles; Hillsboro Short Line, 2 miles; and Cin.
to Idlewild, 5 m. Went into receiver’s hands Sept., 1883, who completed
the road to Portsmouth during 1884, and issued certificates for that
purpose. In 1883-84 gross earnings were $139,318; net, $19,613.
Plan of reorganization in Y. 41, p. 23. (V..40, p. 120, 394.)
34
RAILROAD STOCKS AND
BONDS.
[ V o l . X L II.
A p r i l , 1886.1
RAILROAD STOCKS AND
BONDS,
3 5
Subscribers w ill confer a great favor by giv in g im m ediate notice o f any error discovered in these Tables.
Bonds—Princi
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount
For explanation of column headings, &c., see notes of
of
Par Outstanding Rate per When Where Payable, and by Stocks—Last
Road. Bonds Value.
Dividend.
on first page of tables.
Cent. Payable
Whom.
Cincinnati Hamilton <- Dayton—Stock.....................
£
Preferred stock for $1,000,000 ...............................
Consol, mort. ($996,000 are 7s), sink, fund 1 p. c
Cin. Ham. & I. (Junction) RR., 1st mort., guar---Cincinnati Indianap. St. Louis & Chicago—Stock..
Ind. & Cin. of 1858,1st mort..................................
Indianapolis Cin. & Laf. m ortgage........................
Cin. & Ind., 1st mortgage........................................
do
2d M., guar., and funded coupons---Consol, mort. (for $7,500,000).................................
Cincinnati Lafayette & Chicago, 1st mort., gold ..
Cincinnati Lebanon & Northern.—1st mortgage ...
Cincinnati < Muskingum Valley—1st mortgage—
&
Cincinnati New Orleans < Texas Pacific—Stock.......
&
Cin. Richmond d Chic.—1st mort., giiar. C. H. &D..
2d mortgage, guar, and owned by C. H. & D .......
Cin. Richmond < Ft. W.—1st mort., gold, guar.......
6
Cincinnati Sandusky d Cleveland—Stock................
Preferred stock..........................................................
Mortgage bonds, Sandusky, Dayton & Cincinnati
Mortgage bonds, Sandusky City & Ind...................
2d mortg. Cine., Sandusky & Cleve........................
Cincinnati < Springfield—1st mortgage, guar........
6
2d mortgage...............................................................
Cincinnati Wabash & Michigan—Stock ($3,000,000)
Cincinnati Washington & Halt.—Common stock___
1st mort. gold (the 4^8 are guar, by B. & 0 ) ........
2d mortgage, gold......................................................
354
354
60
98
382
95
151
20
20
175
56
Î.48
336
36
36
91
190
190
__
43
48
165
281
281
3d mort., gold (3 pr. ct. for 10 years and 4 after).
1st income mort., non-cumulaiive, gold................
2d income mort.. non-cumulative...........................
$100
1875
1873
---.
1858
1867
1862
1867
1880
1871
1870
1866
1869
1871
1866
1852
1867
1871
1872
1,000
1,000
100
500 &c.
1,000
1,000
1,000
1,000
1,000
1,000
100
1,000
1,000
1,000
50
50
1,000
1,000
Too
1883
1883
1883
1883
1883
1883
100
1,000
1,000
1,000
1,000
1,000
1,000
C in cin n ati H a m ilto n & D a y to n .—Owns from Cincinnati, O.,
to Dayton, O.. 60 miles; leased—Dayton & Michigan, Dayton to
Toledo, 142 miles; Cincinnati Hamilton & Indianapolis, Hamilton to
Indianapolis, 99 miles ; Cincinnati Richmond & Chicago, Hamilton, O.,
to Indiana State line (and leased road), 44 miles; McComh Toledo &
D., 9 miles : total operated, 354 miles ; each lease reported separately.
In April, 1882, Mr. Jewett, of the Erie, and associates, obtained
control of the stock by guaranteeing 6 per cent on 20,000 shares, but
the arrangement was in 1885 annulled by the courts and stock was
returned to the owners.
Income account in the fiscal years ending March 31 was as follows,
including all the roads operated :
1883-84.
1884-85.
1885-86.
Gross receipts.,............................. $3,042,461
$2,865,933
$2,855,947
Operating expenses and taxes.. $2,083,705
$1,813,943
$1,841,271
C. H. & D. div...............................
236,485
236,940
210,000
503,266
Interest..........................................
509,840
j 648,318
132,017
132,015
D. & M. dividends......... .............
10,650
6,185
Miscellaneous...............................
Total........................................$2,968,227
$2,724,144
$2,672,261
$141,789
$183,685
$74,232
Net surplus........................
—(V .40,p .o41, 640, 741,7 6 3 ; V. 41, p. 75,355,472,653; Y .4 2 ,p .l2 4 ,
487.)
C in cin n ati In d ia n a p o lis St. L o u is & C h icago.—(See Map.)—
Owns from Cin. to Lafayette., Ind., 174 miles; Lawrenceburg branch,
3 miles; Harrison branch (partly owned), 7 miles; Fairland F. & M.
Road, 38 miles; and Cincinnati Lafayette & Chicago (leased), 76 miles;
Vernon Green. & Rush., 44 miles (lleased); Kankakee & Seneca (one-half
owned), 43 miles; Col. Hope & Green., 26 miles; total operated, 411 miles.
This company was formerly the Indianapolis Cin. & Laf., which was a
consolidation in 1876 of the Indianapolis & Cin. and the Laf. & Indianap
olis railroads, the company taking a peimetual lease of the Cincinnati
& Indiana Railroad. The road was sold in foreclosure Feb. 2, 1880,
and this company organized. Of the $7,500,000 new bonds a sufficient
amount was reserved, into which all of the old bonds prior to the Indian
apolis Cin. & Laf. 7s of 1869 could be exchanged at par. In addition
to bonds given above there are $33,500 Cin. & Ind. fund. coup. 7 p. ct.
bonds, due Sept., 1890.
After paying dividends of 6 p. c. in 1881, 6 in 1882,and 3 in 1883, the
dividends from July, 1883, were passed, the money being required for
repairs of damages by flood, &c., and 1 per cent paid in Dec., 1885.
' For eight months from July 1 to Feb. 28 gross earnings were $ l ,619,004 in 1885-86, against $1,721,154 in 1884-85; net, $635,969, against
$631,823 surplus; over fixed charges. $235,969, against $231,823.
From the President’s annual report for year ending June 30,1885, in
V. 41, p. 391, the statistics of income. &c.. were as follow s:
INCOME ACCOUNT.
1381-82
1882-83.
1883-84.
1884-85
$
$
$
$
Gross earnings........ 2,525,991
2,617,457
2,408,589
2,595,859
Net earnings............. 1,000,609
973,652
903,190
935,678
Disbursem c t\is
>
Interest on bonds ...
591,326
621,159
626,233
624,482
Dividends..................
360,000
315,000
............
............
Rate of dividends...
(6p. c )
(4*2 p. e.)
............
............
Miscellaneous..........
6,732
2,342
5,254
29,045
Tqt. disbursem’ts ..
958.058
938,501
631,487
653,527
Balance, surplus . . . .
42,551
35,151
271,703
232,151
—(V. 40, p. 92, 213, 337, 480, 624, 716; V. 41, p. 50,76, 3 9 1 , 445, 486,
584, 653, 688; V. 42, p. 93, 215, 338, 463.)
C incinnati 6c M u sk in g u m V a lle y .—Owns from Morrow, O., to
Dresden Junction, O., 148 miles. Chartered as Cinn. Wilm. & Zanes.
in 1851 and opened in 1857. Sold under foreclosure Oct. 17,1863, and
reorganized as Cincinnati & Zanesville March 11, 1864. Sold again
Dec. 10,1869, and reorganized as at present. Road was leased for 99
years from Jan. 1,1873, to P. C. & St. L., but the lease was terminated
Dec. 31, 1885, and the C. & M V. Co. resumed possession. Gross earn
ings in 1884, $383,667; deficit, $42,002; interest paid, $105,000; total
deficit, $149,002. Gross in 1885, $319,645; deficit, $66,917; interest,
$105,000; total deficit, $171,917. Total amount due lessee Dec. 31,
1885, $1,081,013. Capital stock, $3,997,320. (V. 41, p. 23, 653.)
C in cin n ati N ew Orleans 6c T ex a s P acific.—(See Map).—This is
the company organized under the laws of Ohio Oct. 8,1881, to operate
the Cincinnati Southern, and 51 per cent of the stock is held by the Eng
lish company, the Alabama New Orleans & Texas Pacific Junction Co.,
Limited. The Cincinnati Southern road extends from Cincinnati to
Chattanooga, Tenn., 336 miles. The Ala. N. O. & T. P. also controls the
Vicks. & Mer., 142 miles; Vicks. Shrev. & Pae., 189 miles; N. O. & No.
East., 196 miles; and Spanish Fort RR., 13 miles. See title in this
Supplement. The rental due the Cincinnati Southern is $812,000 per
year till 1886, then $912,000 till 1891, $1,012,000 till 1896, $1,102,000
tUl 1901, and $1,262,000 till 1906. The annual report for 1885 in V.
42, p. 240, gave the following income account for three years:
$3,500,000
3
A. & 0.
449,000
3
2,830,000 5 6 & 7 A. & O.
1,800,000
7
J. & J.
7,000,000
1
Q .-J .
1,599,000
7
A. & O.
2,790,000
7
F. & A.
499,000
J. & D.
7
1,329,000
7
J. & J
M. & N.
6
1,195,000
1,120,000
7 g. M. & S.
5
200,000
J. & J.
1,500.000
7
3
3,000,000
J. & J.
560,000
7
7
J. & J.
65,000
1.800,000
7 g. J. & D.
2
M. & N.
4,003,330
3
M. & N.
428,850
F. & A.
6
591,000
M. & S.
350,000
7
J. & D.
1,072,300
7
A. & O.
2,000,000
7
651,000
J. & J.
7
. 2,043,100
5,811,100
12,893,200
7,500,000 41
ag& 6g M. & N.
J. & J.
3,040,000
500,000
4i3g.
3-4
F. & A.
2,270,000
3,500,000
5
4,000.000
5
—
May., 188 6
Cincinnati, O.
Jan., 1886
do
do
N. Y., Winslow, L. & Co. Oct., 1905
do
do
Jan., 1903
New York.
March 15, ’ 86
N. Y., Amer. Ex. Bank.
Oct., 1888
do
do
Feb., 1897
do
do
Dec., 1892
do
do
Jan., l8 8 7 -’92
do.
do
May 1, 1920
N. Y., A i . Exch. N.Bk. M ch „1901
N. Y.,Winslow, L. & Co.
N. Y., Winslow, L. & Co.
do
do
N.Y., Winslow, L. & Co.
Boston, Office.
do
do
Boston, Nat. Revere Bk.
Boston, Office.
do
do
N. Y., U. S. Trust Co.
dò
do
Jan., 1901
Feb. 5, 1883
July, 1895
Jan. 1, 1889
June, 1921
May 1, 1884
Nov. 2, 1885
Aug. 1, 1900
Moh., 1887
Dec. 1, 1890
A p r ili, 1901
1902
N.Y., Farm’s’ L.& Tr.Co.
do
do
do
do
do
do
do
do
do
do
Nov. 1,
Nov. 1,
April 1,
Nov. 1,
Nov. 1,
Nov. 1,
1931
1931
1893
1931
1931
1931
1883.
$634,940
1,843,781
168,622
1884.
$654,197
1,855,856
148,131
1885.
$662,970
1,875,780
142,796
Total earnings.................. $2,647,343
Operating expenses and taxes. 1,851.321
$2,658,184
1,836,974
$2,681,546
1,710,535
$796,022
$821,210
$971,011
Receipts from —
Passengers..................................
Freight........................................
Mail, express & miscellaneous.
Net earnings.........................
Deduct—
Rent of road...............................
Paid to Trustees.........................
$800,000
$800,000
$800,000
12,000
12,0 j0
12,000
$812,000
$812,000
$812,000
Sur. $9,210 Sur.$159.011
Balance...............................Def. $15,978
F. S. Bond, President. (V. 40, p. 240, 3 3 5 , 363; V. 41,103, 466, 488;
V. 42, p. 2 4 0 .)
C in cin n ati Leb an on & N orth ern .—Dayton, Ohio, to Cincinnati,
60 miles. This company was formed in July, 1885, as successor of the
Cincinnati Northern, sold In foreclosure. Stock is $1,000,000. (V. 40,
p. 684; V. 41, p. 23, 133, 215.)
C incinnati R ic h m o n d 6c C h icago.—Owns from Hamilton, O.,
to Indiana State Line, 37 miles; leased, Richmond, Ind., to Ohio State
Line, 7 miles; total operated, 44 miles. Reorganized May 3, 1866,
and leased in perpetuity from February, 1869, to Cincinnati Hamilton
& Dayton Co., this company to receive all surplus after expenses and
bond interest. Gross earnings in 1882-33, $254,003; net, $109,844;
int., $53,900; surp., $55,944. Grossin 1883-4, $247,911; net,$86,256;
int., $43,120; surplus, $43,068. Capital stock, $382,600.
C in cin n ati R ic h m o n d 6c F o rt W a y n e .—Owns from Rich
mond, Ind., to Adams, Ind., 86 miles; leased, 5 miles of Pittsburg
Fort Wayne & Chicago; total operated, 91 miles. Leased for 99 years
to Grand Rapids & Indiana, the rental being net earnings; in
terest is guaranteed by the lessees and by the Pennsylvania Company
and Cincinnati Hamilton & Dayton Company, jointly. Gross earnings
in 1884, $388,768; net, $63,571. Loss to guarantors, $100,391. Capital
stock, $1,709,192. Total advances by guarantors, $895,479.
C incinnati Sandusky 6c C leveland.—Owns from Sandusky,
Ohio, to Dayton, Ohio, 154 miles; branch, Carey to Findlay, 16 miles;
leased, Columbus Springfield & Cincinnati, 44 miles; total operated, 214
miles, less the division between Springfield & Dayton, 24 miles, which is
leased to the Clev. Col. Cinn. & Indianapolis. The preferred stock
has a hen by deposit of old bonds in trust. The Receiver, after a
three years’ possession of the property, was discharged January 1880.
In Aoril, 1881, a lease was made to the Indiana Bloomington & Western.
By the terms of the lease this company takes 3313 per cent of its gross
earnings as rental; but the amount in any one year shall not be less
than $220,000 nor more than $500,000. There was a difference of
$202,076 claimed from the lessee up to 1835, and suit is pending. In
year ending June 30,1885, rentals received and miscellaneous receipts
were about $228,000.
Payments, including ah expenses, interest,
dividends on preferred stock, &o., about $246,000.
C in cin n ati 6c Springfield.—Operates from Cincinnati. Ohio, to
Springfield, Ohio, 80 miles, of which 32 miles were leased from other
companies. The whole is leased and operated by Cleveland Col. Cin.
& Ind. Co., giving them a line into Cincinnati, and depot accommoda
tion. Lessees apply any excess over rentals to C. < S. stock. Interest
fe
is guaranteed on the first mortgage, one-half by the lessees and one-half
by L. Shore & Mich. Southern. Stock is $1,100,000. To January, 1886,
tne C. C. C. & I. had advanced $2,769,167. Gross earnings in 1884,
$910,908; net earnings, $193,068; rentals, $166,060; interest, $185,570; total, $351,630; deficit, $174,947. Gross in 1885, $886,104; net,
$193,562; rentals, $167,322; interest, $185,570; other payments,
$15,500; total, $368,392; deficit. $174,829
C in cin n ati W a b a sh 6c M ich ig a n R a ilw a y .—Owns from
Benton Harbor, Mich., to Anderson, Ind., 165 miles. Sold Nov. 5, 1879;
for account of bondholders. New company organized April, 1880,
Total stock authorized, $3,000,000. Gross earnings for 1884, $326,532.
net, $57,534; surplus over payments, $8,469. Gross in 1885, $321,790;
net, $58,655. J. H. Wade, President, Cleveland, Ohio.
C in cin n ati W a sh in g to n 6c R a ltim o re .—(See Map o f Balt. <
6
Ohio.)—Cincinnati, O., to Belpre, O., 193 miles; branches—Marietta to
Belpre, 11 miles; Portsmouth to Hamden, 55 m ; Blanchester to Hills
boro, 22 m.; total, 281 m.
The Marietta & Cincinnati Co. was sold in foreclosure Dec. 9, 1882,
and re-organization was made Feb. 7, 1883, under this name.
Prior lien bonds wt-re issued for receiver’s certificates. Of the first
mortgage bonds, $1,250,000 were issued for the Cincinnati & Baltimore
Railroad stock, and bear 6 per cent, the balance bear 4*2 per cent and
are guaranteed by the Balt. & Ohio Railroad Company. The income
bondholders have voting power.
The annual report for 1885 had the follow ing:
Earnings from—
1883.
1884.
1885.
Passengers........................................... $562,881 $536,198
$461,412
1,079,861
1,019,277
Freight.............................................. 1,177,181
Mail, express, &c.................................
249,805 238,249
224,581
Total earnings........................ $1,989,867 $1,854,303 $1,705,270
Operating expenses and ta x e s,....
1,489,824 1.408.371
1,464,830
Net earnings............................... $500,043
$445 937
$240,440
Per ct. operat. exps. to earn’s.
74-87
75-90
85-9
RAILROAD STOCKS AND BONDS.
[Vol . x l i i .
A pril, 1886.
il A U R O AD
STOCKS AìsD
37
BONDS.
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f a n y error discovered iu these Tables.
INTEREST OR DIVIDENDS.
|
Miles Date Size, or
Amount
Stocks—Last
When
of
of
Par
Outstanding Rate per Payable Where Payable, and by
Dividend.
Whom.
Cent.
Road. Bonds Value.
DESCRIPTION.
For explanation of column headings, &c., see note
on first page of tables.
Cincinnati Washington A Baltimore—( Continued) —
Baltimore Short Line mortgage...............................
Cincinnati & Baltimore mortgage..........................
Scioto & Hocking Valley mortgage.........................
Cleveland Akron A Columbus—Stock.........................
Cleveland A Canton—Common stock .........................
Preferred stock......................... ................................
Cleveland Columbus Cincinnati & Ind.—Stock.......
1st mortgage Bel. & Ind.........................................
do
C. C., C. & I. sinking fu n d...............
Cons.mortgage (sink, fund 1 p. c.).......... .............
General consol, mort., gold (for $12.000,000)—
Cleveland Lorain A Wheeling—Stock, common........
Stock, preferred............................................ .........- •
Clevel’nd Tuscarawas VaL & Wheeling 1st mort.
Cleveland A Mahoning Valley—Stock.......................
1st mortgage, extended...........................................
3d mortg. (now 2d)...................................................
Niles & New Lisbon, 1st mortgage.......................
Cleveland A Marietta.—Stock....................................
1st mortgage............... - ............................................
Cleveland A Pittsburg—Guaranteed stock..............
4thmortgage (now 1 st).................... - ...................
Consolidated sinking fund mort. for $5,000,000.
Construction and equipment bonds, Series “ A” .Do
do
Series “ B”
Cleveland Youngs. A Pitts.—IstM., gold................
Oolebrookdale—1st mortgage.................................
Colorado Central—1st mortgage, new..................
2d mortgage...........................................
Columbus At Cinn. Midland—1st m ort..
Columbia A Port Deposit—1st mortgage.
1869
144
391
202
390
390
158
158
158
127
67
67
35
99
226
199
199
13
323
164
164
71
40
1852
1864
1869
1874
1884
1878
1873
1876
1870
1880
$1,000
liooo
100
100
1,000
1,000
1,000
1,000
*50
500 &c.
500 &o.
500 &o.
1862
1867
1873
50
500
1,000
1,000
1882
1868
1879
1881
1881
1884
1868
1,000
lOO&o.
1,000
1,000
1,000
1,000
1,000
J. & D. N. Y., Farm.Ln.&Tr.Co.
$750,000
7
do
do
J. & J.
500,000
7
do
do
300.000
M. & N.
7
do
do
400,000
___
2,166,100
3,071,800
F. & A. N. Y., U. S. Trust Co.
2
14,991,600
do
do
J. & J.
7
230,000
do
do
M. & N.
3,000,000
7
4,013,000 7 or 6 g. J. & D. New York or London.
New York.
3,205,000
6 g. J. & J.
....
1,000,000
...
4,600,000
A. & O. N.Y.. Union Trust Co.
7
700,000
Cleveland, Office.
2,759,200
I lia M. & N.
740,500
7 g. F. & A. N. Y., Ü. S. Trust Co.
do
do
M. & S.
7
654,600
J. & J. N. Y., Union Trust Co.
500,000
7
1,547,000
F. & A. Last paid, Feb., 1884.
1,000,000
7
Q .-M . N. Y., Farm. L. & T. Co.
11,246,971
1H
do
do
J. & J.
1,096.000
6
do
do
M. & N.
2,224,000
7
do
do
J. & J.
1,704,000
7
314,000
J. < J. Last paid Jan., 1884
fc
1,600,000
6 g.
J. & D. Phila., Phil. & R. Office.
600,000
6
4,701,000
7 g. J. & J. Boston, Treas.’s Office.
2,000,000
6 g- J. & J. N.Y., Nat. Park Bank.
do
do
A. & O.
6
1,000,000
J. & J.
6
2,000,000
Phila.. Penn. RR.
F. & A.
1,882,000
7
Deo. 1, 1904
Jan. 1, 1900
May 1, 1896
Feb. 1, 1883
Until 1899
May, 1899
June 1,1914
Jan. 1, 1934
Oct. 1, 1898
1885
Aug. 1, 1893
Sept. 15,1896
Jan., 1890
Sept. 1, 1905
March 1, 1886
Jan., 1892
Nov. 1, 1900
Jan. 1, 1913
July 1, 1921
June 1, 1898
July, 1909
Jan. 1, 1916
April 1, 1923
Jan. 1, 1914
Feb. 1. 1893
1885.
1884.
1883.
1882.
$
$
Disbursements—
$
$
659,385
602,540
507,453
498,615
Interest on d eb t....
118,621
119,104
125,144
121.276
$719,349 Taxes..................... .
(2) 299,984
1,318 Dividends.................
“ 79,896
'*102,633
26,995
"Ì 2 ,3 Ì 3
Miscellaneous...........
$720,667
Total disbursements....................... t ----- . . . . .
$673.690
857,902
824,277
959,576
632,204
Total disbursem’ ts
Balance ............................................................def. 173,647 def. 274,730
241,521
530,177
—(V. 40, p. 453, 540; V. 42, p. 207.)
Balance surplus. H H M939,923
H ■ C levelan d A k ro n & C olu m b u s R a ilw a y .—Owns from Hud —(V. 40, p. 337, 3 9 2 ,7 6 3 ; V. 41, p. 50, 571; V. 42, D. 93,155,304,
son, O., to Columbus, O., 144 miles. Default was made July, 1874, by 3 3 7 , 46 i.)
Cleveland Mount Vernon & Delaware. Sold in foreclosure August 20,
Cleveland. L o ra in Sc W h e e lin g .—Owns from Lorain, O., to
1881. In March, 1882, the decree of foreclosure under which sale had West Wheeling, O., 158 miles. Chartered as Lake Shore & Tuscarawas
been made was reversed, and road was sold again to parties represent Valley in 1870 and opened in 1873. Sold under foreclosure Jan. 26,
ing the Holland bondholders. The company was reorganized under this 1875, and reorganized as Cleveland Tuscarawas Valley & Wheeling. Intitle in Jan., 1886. Gross earnings in 1883-84, $479,280; net, $80,858. February, 1883, road sold and reorganized as Cleveland Lorain &
Gross in 1883. $523,983; net, $117,319.—(V. 41, p. 744; V. 42, p. 93;
\ heeling. The new company has no bonded debt except the $700,000
\
C levelan d & C an ton .—Line of road—Cleveland to Coshocton, O., in table above. For 1884, gross earnings were $358,091; net, $254,115 miles; Canton to Sherrodsville, 43 miles; Oneida to Minerva, 3 miles; 920; interest, $49,000. (V. 40, p. 6 8 3 .)
total, 161 miles. The Connotton Valley Railroad was sold in foreclosure
C leveland Sc M a h o n in g V a lle y .—Owns from Cleveland, O.,
May 9,1885, and this company was organized with an authorized capital to Sharon, Pa., S im iles; Niles, O., to New Lisbon, O., and branches,
of $3,000,000 common and $6,000,000 preferred stook. The gross 46 miles; total operated, 127 miles. It was leased to Atlantic & Great
earnings for six months ending ending Dec. 31,1885, were $148,468; Western in perpetuity from October 1,1861. A new lease was made
net, $28,437. See report. V. 42, p. 364. ((V. 40, p, 151, 304,363, 385, to the reorganized company, New York Penn. & Ohio, till Oot. 1,1962,
597, 625,763; V. 41, p. 688; V. 42, p. 338, 364.)
at $357,180 per year till Jan., 1885, and $412,180 per year afterward.
C levelan d C olu m b u s C in cin n ati Sc In d ia n a p o lis.—Owns
C leveland Sc M a r ie t t a .—Operated from Marietta, O., to Canal
from Cleveland, O., to Columbus, O., 138 miles; Gabon, O., to Indian Dover and branch, 99 miles, of which 7 miles, Valley Junction to
apolis, Ind., 203 miles; Delaware, O., to Springfield, O., 50 miles; Canal Dover, are leased.
This company was organized as suc
leased, Cincinnati & Springfield RR., 80 miles; Levering Station to cessor of the Marietta Cleveland & Pitts., which was foreclosed June 13,
Mount Gilead, 2 miles; Ind. & St. Louis RR., Indianapolis to Terre 1877. In Aug., 1884, interest was not paid, owing to failure of C. K.
Haute, 72 miles; St. L. Al. & T. H., East St. Louis to Terre Haute, 189 Garrison. Receiver was appointed February, 1885, and road to be sold
miles; Alton branch, 4 miles; total owned, leased and operated, 738 in foreclosure May 5. Earnings for 1883-84, $228,763; net, $37,369.
miles. This was a consolidation in April, 1868, embracing the C. C. & C.- Earnings in 1885, $261,381; net $53,723. R. C. Livingston, Pres’t, N.
and the Beliefontaine roads; subsequently leased Cinn. & Spring. RR. Y. City. (V. 40, p. 240; V. 42, p. 430.)
and St. L. Al. & T. H. RR., and purchased Ind. & St. L. RR.
C leveland Sc P ittsb u rg .—(See Map Penn.
The company paid dividends prior to 1877, but after that the Rochester, Pa., 124 miles; branches—Bayard, RR.)—Cleveland, O., to
O., to New
large decline in rates for through freight and the heavy rentals paid miles; Yellow Creek to Bellaire, 43 miles; leased, Rochester to Phila., 31
Pittsburg
reduced the company’s income so that no further dividends were paid (P. Ft. W. & C.), 26 miles; total operated, 226 miles. The property was
until February, 1880, and none after that till February, 1883. In 1882 leased for 999 years from Dec. 1,1871, to Penn. RR. Co., and lease trans
the company acquired control of the Indianapolis & St. Louis, and made
existing
a new lease of the St. Louis Alton & Terre Haute Railroad. The sinking ferred to Penn. Co. May 1,1872. Rental, 7 per cent on assumingcapital
all lia
fund provision of consolidated bonds may be canceled at option of and $10,000 per year for company expenses, the lesseesthe old stook was
bilities. The terms of the lease were 10 per cent, but
holders, and the bonds so stamped.
subsequently converted into a 7 per cent stock by an increase in amount.
The annual report for 1885 was in the Chronicle, V. 42, p. 337.
The report of President Devereux, referring to the figures for the year In 1882 surplus income over charges to lessee was $474.951. This
year
1885, said that with the main line earning net $117,975, the joint deficit company’s annual report for the made ending November 30,1882, stated
settlement had
with the Pennsylvania Railroad
o f the Cincinnati & Springfield and the Indianapolis & St. Louis on the that final in the matter of been
Company
surplus assets remaining to this company, as
year’s operations exceeds such amount by $557,444. “ Theoutcome for of the date of the lease, after closing its business, which surplus accrued
the year is without profit, and the cause of the trouble is plainly dis
by the terms of the supplementary agreement
closed in the statistics of operations given belo w. For most of the year to the lessee The total amount transferred as authorized of November
by
a disastrous competition and conflict has obtained in the carriage of rail 30,1871. “ is $202,291. This sum has been charged against the board
of directors
construc
traffic, and the lowest point in rail rates between the Mississippi Val tion, meeting the old balance of net earnings—$390,138—credited to
ley and the seaboard has been reached. The average gross freight rate construction in the year 1880.”
•
is *577 cents per ton mile, compared with *633 in 1884, a decrease of
Operations and earnings for four years (ending Deoember 31) w ere:
8'84 per cent on the extraordinarily low figures of the preceding year.
Net
D
Passenger Freight (ton)
Gross
T lv.
'
Rates have been torn and attenuated to the last degree apparently, and
Earnings, p.c.
Mileage.
Mileage.
Earnings
Years.
Miles.
the work of the year has in oonsequence been barren of net revenue.
‘
ti|
23,234,059 215,901,749 $3,353,363 $1,734,467 7
.225
“ The bonded debt of the company has been increased during the year 1882
.224 24,071,544 228,440,527 3,089,551 1,346,508 7
by $1,701,000, and now stands at $10,517,'»00. The company is free 1883
878,865 7
.223 22,483,843 209,297,980 2,591,516
from floating debt, and its property was never in bettor physical condi 1 8 8 4
2,589,309
1,070,873 7
1885
223J
tion, the roads and their equipment having been fully maintained to
C leveland Y o u n g sto w n Sc P ittsb u r g .—Standard-gauge road
StIn January, 1886, gross earnings were $285,733, against $287,001 in in progress from Southington, O., to Steubenville, O., 100 mixes, and
1885; net $66,370, against $63,809; deficit below all charges $14,957, 32 miles branches. In operation from Bergholz, O., to Phalanx, O., 70
miles. Earnings in 1882-83, $43,435; net, $17,372; in 1883-84, $44,against $16,941.
694; net, $7,900. In March, 1884, Robert Martin, of Steubenville, O.,
1885.
1884.
1883.
1882. '
was appointed receiver. Stook, $1,000,000. Henry W. Ford, Presi
391
391
391
391
Miles owned...............
dent, 15 Cortlandt St., New York.
Operations—
C oleb rookdale.—Owns from Pottstown, Pa., to Barto, Pa., 13
938,647
820,607
976,468
1,035,764
Passengers carried...
42,176,610 38,145,350 miles. Leased for 20 years from Jan. 1,1870, to Philadelphia & Reading,
Passenger mileage ... 44,759,982 43,548,617
2-091 cts. at 30 per cent of gross earnings. Gro s earnings in 1882-83, $61,270;
2-217 Cts. 2-133 cts.
2-235 cts.
Rate $ pass. $ m ile.
2,347,792 2,513,780 net earnings (30 per cent rental), $18,331. Gross in 1884-85, $44,905;
2,527,993
Freight (tons) moved 2,755,867
Freight (tons) mil’ge.447,411,484 408,436,350 397,678,278 428,691,881 net (30 per cent), $13,471. Capital stook, $297,215.
Av. rate $ ton $ mile
0-706 cts.
0-751 cts.
0-633 cts.
0-577 cts.
C olu m b ia Sc G reenville (S. C.)—The company owns from
Columbia to Greenville, S. C., 144 m iles; branches to Abbeville and
Earnings—
$
797,679 Anderson, 21 m iles; total 164 miles. Also owns Laurens RR.. 31 miles;
899,435
965,693
1,000,270
Passenger.................
2,518,873 2,471,863 and leases Blue Ridge RR., 32 miles, and Spartanburg Union & Col. RR.,
3,068.717
Freight.....................
3,159,417
186,865 69 miles. Total operated, 296 miles. In 1878 a receiver took possession
182,038
178,697
Mail, express, &c.. ..
178,788
of the Greenville & Columbia and the road was sold in foreclosure April
3,600,346 3,456,407 15, 1880, and reorganization was made under this nam e; preferred
4,338,475 4,213,107
Total gross eam ’gs.
2,756,749 2,694,561 stook, $1,000,000; common stock. $1,000,000; all in $loO shares.
3,018,382
2,963,778
Operating expenses.
A majority of the stock is held by the Richmond & West Pt. Terminal
762,846 Co. The gross earnings on all lines in 1884-85 were $724,316; net,
843,597
1,194,725
1,374,697
$345,176; interest and rentals, $243,166; surplus, $102,009. In 1883-4,
INCOME ACCOUNT.
gross earnings, $640,720; net, $190,676; interest and rentals, $199,$
$
$
$
Receipts—
762,846 733; deficit, $9,056. (V. 40, p. 541; V. 42, p 2 1 .
843,597
1,374,697
1,194,725
C olorado C entral—(.Sec Map o f Union Pacific)—
Denver to Gol<len
213,032
211,396
103,125
129,497
Rentals and interest
16 m iles; Golden to State line, 10« miles; Denver Junction to La Salle,
13,805
94,805
165,531
Miscellaneous..........
----------- 1 5 1 m iles; and narrow gauge line from Golden to Georgetown. 34
975,878 ' miles, and Forks Creek to Central City, 11 miles; leases line from
1,068,798
1,489,753
1,572,127
Total income..
1883.
$500,043
_
_
$673,690
—
1884.
$145,937
.
INCOME ACCOUNT.
Net earnings............................................................
Disbursements—
Interest on debt......................................................
Miscellaneous...........................................................
38
RAILROAD STOCKS
AND
BONDS.
[V o l X LJI.
Subscribers w ill confer a great favor by giv in g Im m ediate notice o f any error discovered In those Tables;
DESCRIPTION.
Bonds—Prlncl •
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When DueAmount
For explanation of column headings, <fcc., see notes of
Pai
of
Outstanding Rate per When Where Payable ana bv Sloeks—Last
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Columbus Hocking Valley d Toledo—Stock..........
k
324
$100 $11,700,500 1338 st’k
Aug. ift,
Consol, mortgage, gold (for $14,500,000).............
1,000
324 i s s i
8,000,000
5 g• M. & 8. N. Y., Winslow, L. & Co. Sept. 1 1931
Col. < H. V. 1st mortgage, sinking fund bonds.. 121 1867 500&C.
fe
1,401,000
7
A. & 0.
do
do
Oct,. 1 1 gft7
Col. & H. V. 2d mortgage bonds............................ 121 1872
1.000
777,000
7
J. & J.
do
do
Columbus & Toledo, 1st mortgage coupon, s. f ___ 118 1875
1,000
2,500,000
F. & A.
7
do
do
Aug. 1, 1905
do
2d mortgage coupon, s. f ___ 118 1880
1,000
479,000
7
M. & S.
do
do
Ohio & W. Va., 1st M. (s. f. $15,000 begins in ’86)
1.000
83 1880
1,584,000
7
M. & N.
do
do
Mâv I ' Iftii)
Columbus Springfield < Cincinnati—1st mort.......
£
1,000
45 1871
1,000,000
7
M. & S. Bost.,3 Merchants’ Row SeDt. 1. 1901
Columbus & Western—1st mort. (end. by Cent. Ga.)
60 1881
1,000
677,000
6
J. & J. N. Ÿ., Nat. City B ’k.
Jan. i; Ï911
Columbus <é Xenia—Stock...........................................
50
55
1,786,200
2
Q .-M .
Columbus Treasury.
Mar. 10,1836
1st mortgage......................................\.........
1,000
55 1860
302,000
7
M. & S. N. Y., Am. Exch. N. B’k Sept. 1,1890
Concord—Stock..........................................
50
142
1,500,000
5
M. & N. Bost. ¿^Manchester ,N. H. May 1, 1886
Concord < Claremont—Bonds............
&
71 1874 500 &o.
500,000
7
J. & J. Bost., Treasurer’s office
1894
Concord' < Portsmouth,—Stock, guaranteed.............
£
100
41
350,000
3ia J. & J. Bost.&Manohester.N.H.
Dec.. 1885
Connecticut Central—1st mortgage, cp. orreg...........
29 1875 500 &C.
325,000
7
A. & O.
New York City.
Oct. 1, 1895
Connecticut < Passumpsic—Stock............................... 147
6
....
100
2,244,400
213 F. & A. Boston, 95 Milk Street Feb. 1, 1886
Mortgage bonds......................................................... 110 1873 100 &C.
1,500,000
7
A. & O.
do
April l ' 1893
Massawippi st’k, guar, same div. as Conn. & Pass.
.. .
100
37
400,000
do
2ia F. & A.
Feb. 1, 1886
do
bonds, guar, by Conn. & Pass............
1,000
37 1870
400,000
do
6 g. J. & J.
Jan. 1,' 189Ö
Newport & Ricliford bonds, guar, by C. & P ........
1,000
22 1881
350,000
5
J. & J.
do
Jan. i ; 1 9 ÌÌ
Connecticut River—Stock........................... .................
__
100
80
2,370,00U
4
J. & J. Boston, Springfield, &o. Jan. 1, 1886
Connecting (Phila.)—1st mortgage...........................
1,000
7 1864
991.000
6
M. & S. Phila., Penn. RR. Office. 1900-’l- ’2-’3-’4
Consol, RR. o f Vermont—1st rnortg. (for $7,000,000) 185 1883 100 &c.
6,000,000
5
J. & J. Bost.,Am. Loan&Tr.Co. July 1, 1913
Missisquoi Railroad bonds........................................
1871 500 &o.
500,000
7
J. & J. St. Albans, W. C. Smith. Jan. l| 1891
Coming Oowanesque < Antrim—Debenture bonds..
£
1,000
78 1383
1,250,000
6
M. & N. Phila. F. I. T. &S. D. Co. May 1, 1898
Cumberland < Pennsylvania—1st mortgage............
6
1,000
38 1866
803,500
6
M. & S. N.Y., Consol.Coal Office March Í, 1891
2d mortgage, sinking fund, (guaranteed)...............
1,000
38 1868
411,000
6
M. & N.
do
do
May 1 .1 8 8 8
Cumberland Valley—Stock ($484,900 is preferred).
50
82
....
1,777,850
Q .-J . Phila. and Carlisle. Pa. Apr., 1886
213
1st mortgage................................................. ..........
52
.... 500 &c.
161,000
8
A. S O. Phila., T. A. Biddle & Co. A p rili, 1904
c
2d mortgage, sinking fund guaranteed............
52
109,500
.... 500 &c.
A. & O.
8
do
do
A p rili; 19Ò8
Southern Pennsylvania, 1st mortgage, gold........
24
....
625,000
7 g. M. & S.
Mar. 1. 1900
Danbury < Norwalk—Stock........................................ 361a
6
50
600,000
213 Various New York and Danbury Feb. 15, 1886
1st and 2d mortgages........................................
33 ’70-’72 100 &c.
400.000
7
J. & J. N. Y., Central Trust Co.
1890-92
Colorado Junction to Wyoming State line, 9 miles; total operated, 327 89 miles. Capital stock. $110,900. Operated by Boston & Lowell RR.
miles. Chartered in 1865, and main line opened in 1870. rt is owned by Co. at a rental of $41,500 per year.
the Union Pacific. The new mortgage bond was issued 1o take up the
C oncord Sc P o r tsm o u th .—Owns from Portsmouth, N. H., to
old 8 per cent bonds, of which $87,000 are yet out. Stock, $6,230,300.
a
The road was sold to first mort
Gross earnings in 1883, $1,543,556; net, $553,898; interest and divi Manchester N. H., 4 0 1 miles.
dends, $160.036; surplus, $93,262. In 1884, gross earnings, $1,492,142; gage bondholders in 1857, and leased to Concord RR. in 1858. Lease
rental is $25,000 a-year, which gives 7 per cent a year to present stock
net, $524,008; interest and dividends, $429,484; surplus, $86,952.
holders. There is no debt.
C olu m b ia Sc P o rt D eposit.—Owns from Columbia, Pa., to
C onnecticut C entral.—Owns from East Hartford, Ct., to Massa
Port Deposit, Md., 10 miles. Leased to aud operated by Pennsvlvania chusetts State Line, 20 miles ; branch from Melrose to West Street, Ct., 7
RR. Co. Rental, net earnings. Rental in 1885, $33,150 Capital stock, miles; total operated, 28 miles. Leased to New York & New England RR.
$497,100; fund. debt. $1,882,000, and floating debt (coups.), $907,550. for 15 years from June 1, 1880, the rental to be net earnings, but never
C olu m bu s Sc C in cin n ati M id la n d . Line of road, Columbus, to exceed 6 per cent per year on stock. Capital stook, $ 148,500. Funded
O., to Clinton Val., O., 71 in. Opened in Nov., ’81. Stock, $2.000,000. debt, $325,000, all owned by New York & New England Railroad.
—(V. 40, p. 181, 624; V. 42, p. 463.)
No report yet of earnings. Orlaud Smith, Pres., Cincinnati, Ohio.
C onnecticut Sc P a ssu m p sic.—Owns from White River Junction,
Vt., to Canada Line, 110 miles; leased, Massawippi Valley and branch
(Canada), 37 miles; total operated, 147 miles. The lease of Massawippi
Railroad is at 6 per cent on bonds and same dividends as are paid on
the stock of the lessee. Notes out itanding August, 1885, were $297,
000. Fiscal year ends June 30. Abstract of last report in V. 41, p.
391. Gross earnings in 1834-85, $797,526; net, $299,415. Gross m
1883-84, $837,940; net, $299,150. (V. 41. p. 3 9 1.)
C onnecticut R iv e r .—Owns from Springfield, Mass., to South V e r
non, Vt., 50 miles; branches, 6 miles; leased Ashuelot RR., South
Vernon, Vt., to Keene, N. H., 24 miles; total operated, 80 miles. Fiscal
year ends September 30. Net income, 1883-34, $269,794; 1884-85,
$272,222. Pays regular dividends on stook and has no funded debt,
but notes payable, $625,000. (V. 41, p. 688.)
Connecting: (P h ila d e lp h ia ).—Owns from Mantua Junction to
Frankford Junction, Pa., 7 miles. A connecting link in Philadel
phia to the West and South. Operated by Pennsylvania Railroad.
.Rental, 6 per cent on capital stock, $1,278,300; and interest on funded
debt, $991,000. The bonds are issued in series A B C and D, maturing
respectively in 1900-’l , ’2, ’3 and ’4.
C onsolidated R a ilro a d o f V e rm o n t.—Road owned—Windsor.
Vt., to Burlington,
Neteamings.............. $1,133,703 $1,123,821
$601,819 $1,046,205 Swanton to State Vt., 120 miles; Essex Junction to Rouse’s Point, 65
line, 10; total, 185 miles. Leased—Addison RR., IQ
P. 0. exp. to earnings.
60-72
59 56
67-23
............
miles; Montpelier & White River RR., 6 ; Montreal & Vt. Junction RR.,
Interest on bonds........ $866,060
$866,060
$866,060
26; Rutland RR., 120; Stan. S. & Ch. RR., 43 ; Vermont & Mass., 2 1 :
Interest on debt..........
27,597
35,725
56,815
New London No., 100; Brat. & Whitehall RR., 36.
Total owned,
Rentals.........................
w
22,787
22,623
22,277
...........
leased and operated, 517 miles. In August, 1884, seoured control of the
Balance—cred it........
216,465
199,399 def.340,333
. . . . . . . . Ogdensburg & Lake Champlain RR.
This is the title of the corporation formed on the reorganization of the
—(V. 40, p. 597, 610; V. 41, p. 102, 557; V. 42, p. 93, 304.)
Central Vermont and Vermont < Canada companies in 1833. On July
&
C olu m b u s Springfield Sc C in cin n a ti.- Owns from Columbus. 1,1884, the old receivership was finally dosed by order of Court and
Ohio, to Springfield, Ohio, 44 miles. Leased with Cincinnati Sandusky the transfer made to the Consol, of Vermont, whioh leased all its roads
& Cleveland to Indiana Bloomington & Western, May 1,1381, for 33 u in perpetuity to the Central Vermont RR. Co. Preferred stock is $750,per cent of gross earnings, with guarantee of $80,000 as minimum. 000, with preference of 6 per cent per annum if earned; common stock,
Of the excess over minimum, if any, on 33i3 basis, this company takes $350,009. In July, 1885, the Grand Trunk of Canada purchased a con
one-fifth and Cincinnati Sandusky & Cleveland four-fifths. Capital trolling interest in the stock. The Central Vermont, which operated all
stook, $1,000,000, and bonds, $1,000,000.
this mileage in 1884, reported earnings $3,150,072 gross and $1,062,241
C olu m bu s Sc W e s te r n .—Owns from Opelika to Good water, Ala. n e t; rent of leased lines $631,532. (V. 40, p. 269, 6 82.)
C orning C ow anesque Sc A n tr im .—Owns from Coming, N. Y .,
60 miles, and Columbus to Opelika, 29 miles—total 89 miles. The
Savannah & Memphis RR. was foreclosed June 5, 1880, and this Com to Antrim, Pa., 53 miles; branch, Lawrenceville to Harrison Valley,
pany organized. Extension was in progress from Goodwater to Birming Pa., 32; total operated, 85 miles. Consolidation (January, 1873)
ham, Ala. The bonds are endorsed by Cen. RR. of Georgia. Gross of the Blossburg & Corning RR. and the Wellsboro RR. June 1, 1874,
earnings in 1883-84, $176,315; net. $62,076; interest paid, *63,820. the Cowanesque Valley RR. was absorbed. These lines are leased to and
Gross in 1882-3, $176,370; net, $60,963; interest paid, $81,990. Stook. operated by the Fall Brook Coal Co., together with 7 miles owned.
$1,750,000. W. G. Raoul, President, Savannah.
' Rental paid—6 per cent on bonds, 6 per cent on common stook and 7
C olu m bu s Sc X e n ia .—Owns from Columbus, Ohio, to Xenia, Ohio, per cent on preferred stock; dividends paid quarterly, Maroh 31, &o.
55 miles. Is operated as a division of the Little Miami, and is leased Stock—common, $1,500,000, and preferred, $500,000. The coal line of
for 99 years in connection with that road to the Pittsburg Cincinnati & Phila. & Reading and N. Y. Central is over the road of this company,
St. Louis, which pays 8 per cent on stock and provides for the bonds. whioh jointly guarantees the bonds of the Jersey Shore Pine Creek*&
The lease is guaranteed by the Pennsylvania Railroad Company. The Buffalo road. Earnings in 1883-84, $591,627; net, $171,753; rental
paid C. C. & A. RR., $150,000; surplus to lessee, $21,757. Earnings in
Columbus & Xenia pays 82s per cent dividend per annum.
1884-85, $607,595; net, $L79,195; rental paid C. C. & A , $150,oOO;
C on cord .—Owns from Concord, N. H., to Nashua,N. H., 35 miles- surplus to lessee, $29,195. George J. Magee, Prest., Watkins, N. Y.
Manchester & North Weare, 19 miles ; Hookset Branch, 7 miles ; leased—
C um berland Sc P e n n sy lv an ia . - Owns from Cumberland, Md.,
Concord & Portsmouth, 41 miles; Suncook Valley, 20 miles; Nashua to Piedmont, Md., and several branches, 55 miles. It is owned and
Acton & Boston, 20 miles ; Manchester & Keene RR.. 30 miles ; total operated by Consolidation Coal Co., which guarantees second mortgage.
operated, 172 miles. Fiscal year ends Maroh 31. Annual report, in V.
C um berland V a lle y .—Owns from Harrisburg, Pa., to Potomao
40, p. 651. Income account has been as follows:
River, Md., 82 miles; leased—Martinsburg & Potomao RR., 12 miles;
INCOME ACCOUNT.
Dillsburg & Mechanicsburg RR., 8 miles; Southern Pennsylvania RR.,
„
.
1882-83.
1883-84.
1884-85.
23 miles; controlled, Mont Alto RR., 18 miles, but aocounts kept sep
Gross earnings................................ $1,327,880 $1,142,894 $1,100,864 arate; total controlled and operated, 141 miles. Owns or leases sev
Net earnings...................................
$430,318
$476,190
$406,379 eral factory roads, in all about 43 miles. The stock is owned in large
Disbursements—
part by Penn. RR. Co. Large advances have been made to branch roads.
Rentals.............................................
$148,872
$144,593
$113,319 Operations and earnings on the main line for four years past were ;
Freight (ton)
Gross
Net
Div. p. ct.—
Taxes on stock................................
33,798
37,360
37,755
Miles.
Mileage.
Earnings. Earnings. Pref. Com.
Improvements................................
97,264
143,236
104,091 Years.
Dividends, 10 per cent..................
150,000
150,000
150,000 1882
........ 125
21,673,434
$762,886 $231, L90 10
10
......... 125
30,018,284
871,389
237,564 10
10
Total disbursements...............
$429,934
$475,189
$405,165 1883
1884
.................. .................. .................. 125
27,965,208
844,515
B a la n o e ....... ..............................
Sur. $384 ^gur. $1,001 Bur. $1,214 1885
........ 125
25,844,869
769,647
255,811
8
8
- ( V .40, p . 6 5 1 ; V. 41, p.355.)
D an b u ry Sc N o r w a lk .—Owns from Danbury, Conn., to Wilson
„ t'9,n c ®*'d * C la r e m o n t .—Owns from Concord to Claremont. Point, South Norwalk, Conn., 26Ia miles; branches to Ridgefield and
N.
56 miles; branch, Contoocookville to Hillsborough, N. H.. Hawleyville,together iO miles; total operated, 36^ miles. Dividends
15 miles; leased—
Peterboro & Hillsboro BR., 18 miles; total operated, have been irregular. Operations and earnings for three years past were:
C olu m bu s H ocking: V a lley Sc T o l e d o . —(See M ap)—Owns main
line from Toledo to Pomeroy, 257 miles; branches—Logan to Athens, 26;
Logan to Straitsville, 13; Straits’e to Nelsonville, 17; others, 11; total,324.
This was a consolidation in July, 1881, of the Columbus & Hock
ing Valley, Columbus & Toledo, and Ohio & West Virginia. The stocks
of those companies were purchased and new consolidated stock for
$20.000,000 authorized; in August, 1885, a stock dividend of 133s per
cent was made, bringing the total outstanding up to $11,700,000. Of
the consolidated mortgage $6,500,000 was reserved to meet the prior
liens. The Central Trust Co. of New York is trustee.
A combination was made in 1885 with the reorganized Ohio Central
by which the company will be under one management, as per the circu
lar in V. 40, p. 597, and the C. & H. V. guarantees the interest on the
T. & O. C. 1st mortgage bonds.
The earnings of 1834 were greatly reduced by the miners’ strike in
the Hocking Valley, lasting from June, 1884, to March, 1885. State
ment of earnings and income for four years is as follow s:
,
1882.
1883.
1884.
1885.
Miles of railroad........
324-00
324-00
324-00
324-00
Gross earnings........... $2,886,437 $2,779,382 $1,842,473 $2,311,003
Operating expenses.. 1,752,734
1,655,569
1,240,654
1,264,798
215,230
APRIL, 1886.]
RAILROAD
STOCKS AND BONDS.
40
BAILßOAD
STOCKS
AND
BONDS.
[V ol. X LII.
Subscribers w i l l confer a great fa v or b y g iv in g im m ed ia te n otice o f any error discovered in these T a b les.
Bond*—Princi
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount
For'explanation of column headings, &c., see notes of
Par
of
When
Outstanding Rate per Payable Where Payable, and by Stocks—Last
on first page of tahlës.
Road. Bonds. Value
Cent.
Whom.
Dividend.
Danbury < Norwalk—( Continued) —
6
Consolidated mortgage.............................................
1880 $ ....
$100,000
General mortgage...................................................... 36ia 1883
100
150,000
Danv. Olney< O.Riv.—ls t (for $1.000,000) cp.or reg. 100 1880 500 &c.
&
1801,000
1,000
Dayton < Ironton—First mortgage, g o ld ..................
&
155 1885
1,300,000
___
50
Dayton & Michigan—Com. stock (S^guar.C.H.&D.) 141
2,402,573
50
Preferred stock, (8 percent, guar. C. H. & D .)_
_
141 1871
1,211,250
1,000
3d m ortgage.............................................................. 142 1869
351,000
1,000
Consol, mortgage, guar, by C. H. & D ....................
142 1881
2,324,000
1864 ........
Toledo Depot 2d m ortgage....................................
53,000
1,000
Dayton < Union—1st mortgage..................................
£
32 1879
225,000
1,000
Income mortgage bonds............... ............................
1879
173,000
1,000
Dayton < Western—1st M., guar. L. M. and C. & X .
&
41 1864
495,000
__
25
Delaware—Stock...........................................................
85
1,531,738
1,000
Mortgage bonds, convertible, guar. P. W. & B ___
85 1875
650,000
....
Delaware < Bound Brook—Stock, guaranteed.........
£
31 ' ....
1,692,000
....
1st mortgage........................................................ ......
1,500,000
27 1875
....
2d mortgage debenture bonds, reg.........................
....
192,000
50 26,200,000
___
Delaware Lackawanna < Western—Stock...............
&
886
....
Consol, mort., on roads & equipm’t, ($10,000,000) 288 1877
3.074,000
__ 1872 1,000
Plain bonds (not mortgage;.....................................
600,000
.... '
Del. Maryland <•Fa.—June. & Breakwater—1st M.
£
47 1860
400,000
....
June < Breakwater, 2d m ortgage.........................
fe
47 1879
250,000
....
Breakwater & Frankford, 1st mortgage, r e g .......
20 1873
200,000
Worcester Railroad, 1st mortgage, coupon............
....
36
....
400,000
Denver dt New Orleans—1st mortgage........................
(?)
io o
Denver £ Bio Grande—Stock....................................... 1,317
....
38,000,000
1st mort., gold, sinking fund.................................. 295 1870 500 <fec.
6,382,500
1st consol, mortgage ($15,000 per mile)................ 1,022 1880 500 &c. 19,740,500
1,000
General mortg., convertible (for $50,000,000)___ AH. 1883
2,500,000
Car trusts in five series.......... ..................................
—
—
3,604,000
—
Passenger Freight (ton)
Div‘
Gross
Net
Miles. Mileage.
Mileage.
Years.
Earnings. Earnings. p. c$61,684
1882-83 . . 36ia 3,672,023 1,588.830
$211,734
2ia
1883-84 . . 36ia 4,062,690 1,644,094
85,719
211,658
2*2
220,806
80,129
5
1884-85.... 36*2 4,544,115 2,061,445
D a n v ille Olney & O hio B i v .—This road was projected from Dan
ville, 111., to Olney, and to the Ohio River, 243 miles, of which 110 miles;
Danville to Olney are in operation; also 20 miles of Chicago & Eastern
Illinois leased. Stock issued, $1,519,400. In Nov., 1882, a receiver
was appointed and in Feb., 1886, the road was sold in foreclosure. The
re-organization plan contemplates the issue of a new mortgage at $5.00 >
per mile, and to old bondholders an income bond for 75 per cent of
their hoi Hugs and common stock lor the remaining 25 per cent. (V. 40,
p. 541; V. 41, p. 306, 584; V. 42, p. 135, 215, 242.»
D ayton & Ir o n to n .—Road from Dayton to Ironton, 155 miles
This company was organized in 1884 as successor to the Southeastern
Division of the Toledo Cm. & St. Louis RR., sold in foreclosure June 26,
1884. The narrow gauge is changed to standard, and the total author
ized issue of bonds is $1,700,000, including $400,000 reserved to pay
oldclaims. Preferred stock is $2,600,000; common stock, $2,500,000. (V.
41. p. 720; V. 42, p. 487.)
D ayton & M ic h ig a n .—Owns from Dayton, O., to Toledo, O., 141
miles. Leased May 1,1863, in perpetuity to the Cincinnati Hamilton &
Dayton. Lease amended January 23,1870. The rental is the interest
and sinking fund of debt, and 8 per cent on preferred stock and :3?a per
cent on $1,003,300 common. Of the common stock $1,003,300 only is
uaranteed 3Lj by C. H. & D. Profit to lessee in 1883-84, $161,990;
884-85, $196,387 The lessees hold $1,399,273 of the common stock.
D ayton & U n io n .—Owns from Dodson, Ohio, to Union City, Ind.,
32 miles; leased Dayton to Dodson, 15 miles; total operated, 47 miles.
The Greenville & Miami RR. was sold out Oct. 30,1862. ind re-organized as now in Feb, 1863. Operated by trustees since December, 1871.
Capital stock, $86,300. For two months from Jan. 1, 1886, gross earn
ings were $41,628; net, $3,726; charges, $4,653. In 1883-4 gross
earnings were $136,633; net, $41,136. In 1882-3 gross earnings, $144,244; net, $37,523.
D ayton & W e s te rn .—Owns from Dayton, O., to State Line, Ind.,
37 miles. Leased in perpetuity from Jan. 1, 1865, to Little Miami,
and carried with that road in the general lease to the P. C. & St. L. The
lessees are virtual owners and are answerable for all obligations.
D ela w a re .—Owns from Delaware Junction (P. W. & B.), Del., to
Delmar (Md. Line), 84 miles; branches, 16 miles: total operated. 100
miles. The Dorchester & Delaware and Queen 'Anne & K. railroads
now operated by P. W. & B. RR. The Delaware Railroad was opened
1855-60, and is leased for 21 years from 1876 to the P. W. & B.
C o.; rental 30 per cent of gross earnings, but stock must have 6 per
cent. Gross earnings 1884-85, $644,117: net, $193,235; interest and
dividends, $130,734; surplus, $62,501; 1883-84, gross, $637,573; net,
$191,272; interest and dividends, $130,590; surplus, $60,681.
D ela w a re & B o u n d B r o o k .—Owns from Bound Brook (Cent,
of New Jersey) to Delaware River, 27 miles; branch, m a i n U t ia to
Trenton, 4 miles; total operated, 31 miles. In connection with Central
of New Jersey and North Pennsylvania forms a line between New
York and Philadelphia. In May, 1879, the property was leased for
990 years to the Philadelphia & Reading Railroad Company—the lessee
paying interest and 8 per cent on stock after May, 1883. Gross earnings
in 1882, $693,525; net, $326,334. In 1883 gross, $720,654; net, $356,544. In 1884, gross, $729,157; net, $315,446; rental, $257,880; net
profit to lessee, $57,566.
D ela w a re L a ck a w a n n a & W e ste rn .—(SeeMap).—This company
operates under lease an extended system of roads in New York, Penn
sylvania and New Jersey. Owns from Delaware River (N. J. line) to New
York State line. 115 miles; branches—Scranton to Northumberland,
80 miles; Greenville to Winton, Pa., 8 miles; to Storrs, 3 miles; Junction
to Keyser Valley, Pa., 5 miles; leased lines in New York—N. Y. Lack. &
Western RR., 214 miles; Cayuga & Susquehanna RR., 34 milesGreene RR. 8 miles; Oswego & Syracuse Railroad, 35 miles; Utica
Chenango & Susquehanna Valley RR., 97 miles; Valley RR., 12 milescontrolled and operated—Syracuse Binghamton & New York, 81 miles ’•
leased lines in New Jersey—Chester RR., 10 miles; Morris & Essex, 118
miles; Newark & Bloomfield, 4 miles; Warren RR., 18 miles; Sussex 30
miles; Passaic & Del., 14; total operated, 886 miles; the Rome & Clin
13 miles, and Utica Clin. & Bing., 31 miles, were surrendered Apiil, 1883*
In 1882 the important connection to Buflalo, the N. Y. Lack. & West!
was opened, and the road was leased by this company. The Lackawanna
& Bloomsburg was consolidated with this company June 19,1873.
The Delaware Lackawanna & Western Railroad publishes no annual
report in pamphlet form but merely a circular showing income
account and balance sheet. The road was operated mainly as a coal
earlier and distributer till 1882, when the line from Binghamton to
Buflalo was built and leased to the Delaware Lackawanna & Western,
and the company entered the field as a competitor of the trunk lines
between New York and Buflalo.
HBhYM 3U3H
The Delaware Lackawanna ¿W estern formerly paid 10 per cent on its
stock, but its numerous railroad leases became onerous, and in the dull
times, 1876 to 1880, no dividends were paid; in 1680 3 per cent was
p a id ; in 1881. 6%; in 1882,1883, and 1884, 8 ; in 1885, 7%.
Prices of stock yearlyfsince 1870 have^beem^lS?!, 1 0 2 ® !!!* « ; 1872
f
6
5
7
6 g.
1%
2
7
5
7
7
6
6&7
3
6
2
7
6
1%
7
7
4
4
4
4
J. & J. N. Y., Central Trust Co.
A. & O. N. Y., Cent. Trust Co.
J. & J. Last paid July, 1882.
J. & J.
Boston, Agency.
A. & 0. Cincinnati, C. B.& D.Co.
Q.—J. N. Y., Winslow, L. & Co.
A. & O.
do
do
J. & J.
do
do
M. & S.
do
do
J. & D. N.Y., Am.Exch.Nat.Bk.
J. & D.
J. & J. N.Y., Bank of America.
J. & J. Dover, Co.’s Office.
J. & J. Phil., Fid. I.T.&.S.D. Co.
Q .-F .
Philadelphia.
F. & A. Phila,,Guar.T.A S.D.Co.
M. & N.
Philadelphia.
Q .-J . N. Y., 26 Exchange PI.
M. & S.
do
do
J. & D.
do
do
J. & J.
Philadelphia.
F. & A.
do
J. & J.
do
A. & 0.
do
1920
1925
Jan. 1, 1910
Jan. 1. 1925
April 7, 1886
April 7, 1886
Oct., 1888
Jan. 1, 1911
March 1, 1894
Dec. 1, 1909
After 1910
Jan. 1, 1905
Jan. 2, 1886
July 1, 1895
Feb. 16, 1886
May, 1905
April 20,1886
Sept. 1.1907
June, 1892
1890
1899
1*98
1896
1*2
Jan. 14, 1882
7 g. M. & N. Last paid Nov., 1885. Nov. 1, 1900
7
J. & J. Last paid Jan., 1884. Jan. 1, 1910
5
A. & O. Last paid April, 1884. Oct. 1, 1913
7 &6
—
10 p. 0. yearly.
91®1121 1873. 79*23106; 1874. 99® 1123a; 1875, 106*2® 123; 1876.
2;
64^2® 1203a; 1877. 30V ® 77: 1878. 41 @61’ «; 1879. 43@ 94; 1880 68*a
®1105 1 881.1 0 7 ® 1 31 ;18 8 2,1161
4;
4®1501 1883, l l l ^ m ^ : 1884.
4;
in 188K 82»%® 1295a; in 1886 to April 16,115® 135%.
,
The following is a synopsis from the company’s income account for
four years; the operating expenses include amounts spent for better
ments: $443,182 in 1885, $385,033 in 1884, $1,072,816 in 1883, and
d>noi r»A i
$931,701 in 1 0 0 0
1882.
1882.
1883.
1884.
1885.
$
$
$
$
Gross rec’ts. all sources. 27,006,267 32,819.606 31,311,992 31,091,677
Operating expenses___ 20,163,078 24,165,864 23,393,180 23,663,754
Net receipts.................... 6,843,189 8.653,742 7,918,812 7,427,923
INCOME ACCOUNT.
Net receipts..................6,843,189 8,653,742 7,918,813 7,427,923
Interest and rentals...3,620,708 4,946,943 5,113,322 5.187,039
Balance, surplus.......... 3,222,481 3,706,799 2,805,490 2,240,834
D iv id en d s..................... 2,096,000 2,096,000 2,096,000 1,965,000
Rate of dividends.......
8
8
8
714
Balance after divid’ds.
1,126,481 1,610,799
709,490
275,834
£ggg
GENEBAL BALANCE AT CLOSE OP EACH FISCAL TEAR.
A ssets1882.
1833.
1884.
1885.
RR. buildings, equip$
$
$
$
m’t, coal lands, &c.. 32,072, S60 33,089,336 34,250,418 34,508,047
Stks&bds.,own’d,cost 5,763,146
6,503,851
5,449,713 5,374,918
Net cash & cur. acc’ ts
*377,851
*147,987
*527,121
*357,562
Materials, fuel, & c...
1,342,820
1,265,810
1,049,712
941,372
Total..............
39,556,677 41,007,034 41,276,965 41,181,899
Liabilities—
S to ck ......................... 26,200,000 26,200,000 26,200,000 26,200,000
4,044,900
Fun led debt.............
4,044,900 4,044,900 3,674,000
Balances....................
600,000
.................................
439,560
Surplus accou nt.......
8.711,777 10,322,574 11,032,065 11,307,899
Total liabilities......... 39,556,677 41,007,034 41,276,965 41,181,899
-wet oarance between lrabrlitres and assets.
—(V.40, p. 151, 241, 2 6 7 , 588; V. 41, p. 190, 558; V. 42, p. 155, 2 7 0 .)
D elaw are M aryla n d & V ir g in ia .—Consolidation June 1 ,1883,
of the J unction & Breakwater, the Breakwater & Frankford and the
Worcester railroads. Road extends from Harrington to Lewes, Del., 40
miles, and from Georgetown to Franklin City, Va., 55 miles; branch to
Rehoboth, Del., 5 miles; total, 100 miles. In July, 1885, the company
passed into control of the Phila. Wil. & Balt. RR and became part of the
Penna. RR. system. Gross earnings in 1833-4, $174,611; net, $37,102.
—(V. 41, p. 133.)
D enver & N ew O rleans.—Projected from Denver, via Pueblo to
the Canadian River, 350 miles, and in 1882, Denver to Pueblo, 120 miles,
and 13 miles branches, had been completed. Built by a Construction
Company. See circular in V. 35, p. 601. In 1883 the Construction Co.
became embarrased and $2,286,000 bonds and $2,540,000 stock pledged
were sold by the Mercantile Trust Co. on Sept. 20. In March, 1886,
road was sold to satisfy debt to Mercantile Trust Company (as reported).
Jno. Evans, President, Denver. (V. 40, n. 2 8 : V. 41. n. 241. 494- V.
42, p. 338, 393.)
-.
„
D enver & B io Grande (3 feet.).—Owns a line from Denver
City, Colorado, via Pueblo, Salida, Gunnison, Montrose and Grand
Junction, to the western boundary of Colorado, where it connects
with the Denver & Rio Grande Western, to Salt Lake City and Ogden,
making the distance from Denver to Ogden 771 miles, and from Pueblo
to Ogden 651 miles. Brs. extend to Leadville, Dillon, Red Cliff, Crested
Butte, Silver Cliff, Chaffee and Hot Springs; also from Pueblo toSilverton,
via Cuchara, Alamosa and Durango, with branches to El Moro, Española,
Del Norte and Wagon Wheel Gap; total oper. Jan. 1, ’85,1,317 miles.
The trust deed of the consolidated mortgage is to Louis H. Meyer and
John A. Stewart, of New York, as trustees, and the bonds were issued at
$15,000 per mile. The general mort. of 1883 was issued for an author
ized amount of $50,000,000, and enough reserved to retire all prior bonds.
In 1884, with a large decrease in earnings, the company became em
barrassed and default was made on the consolidated mortgage interest
due July 1,1884, and in July W. S. Jackson was appointed receiver.
In November, 1884, default was made on the 1st mortgage bonds, but
defaulted interest paid in December, 1885.
The plan of reorganization calls for foreclosure under the consolidated
moitgage.
T ie authoiized stcck and bonds of the tew company would stand as
follows: S'6,382,LC0 oldflrstmort. bonds; $35,600.000 first moit.consol.
gold bonds, 4 per cent; $24,343,950 5 per cent pref. stock, non-cumulative with voting power; $38,060,000 common stock with voting power.
Any part of the $35,000,000 new consolidated bonds remaining un
used after the leorgaiization of t ie company thill be canceled.
Thefproceeds of assessments upon the old stock ($6 per share if paid
before Jan. 1,1866, and $8 per share thereafter) and general mortgage
bor ds are placed with special trustees, to be applied to payment of exist
ing floating debt and of the expenses of foreclosure and reorganization,
to betterments and to equipment, as directed resp ectively by the Com
mittee of Reorganization and by the reorganized company. The Commit
tee t f Reorganization had power to make such changes in the details of
BONDS.
RAILROAD STOCKS AND
1886.j
A p r il ,
RAILKOAD
4 3
STOCKS AND BONDS.
[ V ol. X L II.
Subscribers w ill confer a great favor by giv in g Im m ediate notice o f any error discovered in these T ables.
DESCRIPTION.
on first page of tables.
Denv.£ R.Or.West.—1st, g. ($16,000p.m.),c
Coupon certificates (see V. 41, p. 273) . . .
Denver South Park £ Pacific—stock...........
1st mortgage, gold, sinking fund.............
Consol, mort. gold ($17,000 per mile)___
Des Moines £ Ft. Dodge—1st mort., coup...
1st mortgage, incom e.................................
Mortgage on extension..............................
Certificates secured on lan d s....................
Detroit Orand Haven £ Milwaukee—S tock ___
1st equipment mortgage, guar........................
Consolidated mortgage, guar.........................
Sectional mortgage (Detroit < Pontiac R R .).......
fc
Detroit Hillsdale £ S. IF.—Stock...................
Detroit Lansing £ North.—Stock, common___
Preferred stock.................................................
1st mortgage..............................................................
Ionia < Lansing, 1st mort., coup,, may be reg___
&
Saginaw & West. mort.. guar, ($15,000 per mile).
Detroit Mackinac £ Marquette—1st mortgage.........
Land grant bonds (income)...................................
Income bonds............................................................
Dubuque £ Dak.—1st M., gold. gu. (payable at 105)
Dubuque £ Sioux City—Stock....................................
1st mortgage, 2d division.......................................
Notes to retire 1st mortg. (redeem, at pleasure)..
Duluth £ Winnipeg—1st mortgage, gold, land grant
2d mortgage, mcome.................................................
Dunkirk Altegh. Talley £ Pitisourg—1st mort., gold
2d mortgage.... .................................................
3d mortgage......................................................
Bonds—Princi.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due*
Amount
Par
of
of
Rate per! When Where Payable, and by Stocks—Last
Road. Bonds Value. Outstanding
Cent. Payable
Whom.
Dividend.
368 1881 $1,000 $6,900,000
m
6 g. | . & s. Last paid March. 1884. Sept. 1, 1911
300
1885
5
(?)
IM. & S.
At will.
__
100
274
6,142,800
4
New York.
Aug. 1 5 ,1»80
1,000
150 1876
1,800,000
7
M. & N. N.Y., London«fe Frankf’t May 1, 1905
. . . . 1880
1,000
2,812,000
6 g. J. < J. N. Y „ Co.’s Agencv.
fc
Jan. 1, 1921
1,000
88 1874
1,200,000
6
J. & J. N. Y., Morton, “B. <feCo. June 1, 1905
1.000
88 1874
1,200,000
6
J. & J.
do
do
June 1, 1905
1,000
56 1881
672,000
6
J. < J.
fc
do
do
June 1, 1905
....
....
54,000
7
....
300 1880
879,000
7
J. & J. Last paid Jan. 1885.
1896
50
189
1,500,000
1,000
189 1878
2,000,000
6
A. & 0. New York «fe London. Nov. 14,1918
189 1878 200 &c.
3,200,000
6
A. & O.
do
do
Nov. 15,1918
___ 1854
1,000
250,000
8
F. & A. N.Y.,Canad’nB. of Com. Feb. 15,1886
....
....
65
1,350,000
2
J. & J. N. Y., Farm. L. < Tr. Co Jan. 5, 1886
fc
100
261
....
1,825,600
3
Boston.
Aug. 15,1884
100
261
2,510,000
5
F. « s A.
S
do
Feb. 15, 1886
222 1877 500 &c.
2,487,000
7
J. < J. Boston, 2d Nat. Bank. Jan. 1, 1907
fe
1,000
59 1869
770.000
8
J. «fe J.
do
do
July 1, 1889
1,000
32 1883
476,000
6
J. < J.
fc
do
do
July 1, 1913
1,000
152 1882
2,280,000
6
A. & O. N. Y., Metrop. Nat. Bk. Oct. 1, 1921
. . . . 1881
1,000
4,560,000
7
A. & O.
do
do
Oct. 1, 1911
1,000
1881
1,500,000
7
Oct. 1, 1921
1,000
63 1879
630,000
6 g- J. & J. N.Y..M.K. Jesup, P.«fe Co. July 1. 1919
100
143
....
5,000,000
2
A. «fe O. N.Y..M.K. Jesup,P.<& Co. Oct. 15,1885
43 1864 500 &c.
586,000
7
J. < J. N.Y., JohH Paton«feCo. July, 1894
&
. . . . 1888
....
295,000
5
1888
1,000 18,000 p.m.
1881
&
6 g. M. < N. N. Y., Central Trust Co. May 1, 1911
....
7,000 p.m.
90 1870
1,000
2,000,000
fe
7 g. J. < D. N.Y., N.Y. Cent. < Hud. June, 1890
fc
1,000
90 1870
1,000,000
7
A. < O.
fe
do
do
Oct. 1, 1890
1,000
90 1870
200,000
A. «fe O.
7
do
do
Oct. 1. 1890
this plan as they considered to be for the best interest of all parties, and
their settlement with the equipment trust bondholders was mentioned
in V. 41, p, 420, and modifications of the plan embracing the proposed
absorption of the Denver & Rio G. Western were in V. 41, p. 556.
Gross earniDgs for two months from Jan. 1 to Feb. 28,1886, were
$832,650, against $800,649 in 1885; net, $218,590, against $171,131.
Earnings, expenses and net income for four years were as follow s:
1882.
1883.
1884.
1885.
Miles oper. Dec. 3 1 ...
1,282
1,679
1,317
1,317
Earnings—
$
$
$
$
Passenger.................... 1,589,558
1,472,503
1,129,652
1,086,656
Freight......................... 4,412,185
5,351,912 3,98 ¡>,455 4,580,491
Mail, express, «fee.......
403,237
537,131
441,996
451,907
Total gross earnings 6,404,980
Operating expenses .. 3,821,123
agdin8t
in. looDj net, $8)941, cigciinst $11,184. Gross o&rniiifirs
1883 $341,935; net $102,652. In 1884, gross earnings were $354,029, net, $101,660. In 1885, gross earnings were $382,420; net, $120 420. See annual report, V. 42, p. 364. (V. 42, p. 124, 364.)
_ ® es M oin es Osceola Sc So u th ern .—Projected from Des Moines
La., to Kansas City, Mo., 300 miles, of which 113 miles, Des Moines to
Camsville, Mo., is built. In April, 1885, a receiver was appointed. Stock
issued, $500,000, $7,000 p. in ; bonds, $6,000 p. m. In Aug.,’84 consol
with Wis. Ia. & Neb. RR. (V. 40, p. 454; V. 42, p. 22.)
, D etroit G rand H a v en Sc M ilw a u k e e .—Owns from Detroit,
Mich., to Grand Haven, Mich., 189 miles. This is a reorganization of
the Detroit < Milwaukee which was sold in foreclosure Sept., 1878. A
fc
sufficient amount of first equipment mortgage bonds is reserved to
retire Detroit < P. bonds on maturity. The bonds were guaranteed by
fc
the Gt. Western of Canada. Gross earnings in 1882, $1,348,565 ; net
$339,453; in 1863, gross, $1,376,464; net, $379,767; in 1834, gross,
$1,254,391; net, $333,626. For nine months from Jan. 1 to Sept. 30,
1885, gross earuings were £187,8 j 3, against £187,010 ia 1884: net.
£42,432; against £50,977.
7,361,546
4,743,111
5,552,103
3,758,530
6,119,054
3,935,273
Net earnings............... 2,583,857
2,618,435
P. c. of exp. to cam ’s.
59 66
64-43
INCOM ACCOUNT.
E
.1882.
1883.
Receipts—
$
$
Net earnings.............. 2,583,857
2,618,435
Other receipts............
36,771
114,531
1,793,573
67-70
2,183,781
64-31
1884.
$
1,793,573
34,401
D etroit H illsd a le Sc S o u th w estern .—Owns from Ypsilanti,
1885.
Mich., to Bankers, Mich., 65 miles. The Det. H. & Ind. road was sold
$
2,183,780 m foreclosure Dec. 28,1874, and this company organized by the bond
67,227 holders. In Aug., 1881; leased in perpetuity to the Lake Shore & Mich,
Southern Co. for $40,500 per year (3 per cent) on stock for two years,
2,251,007 and $54,000 per year (4 p. ct.) afterward.
Total income............ 2,620,628
Disbursements—
Interest on debt........ 1,602,443
Ren’l of D.R.G.W. RR.
Taxes and miscellan’s
298,306
Dividends....................
2,732,966
1,827,974
D etroit L a n sin g Sc N orth ern .—Owns from Grand Trunk
June., Mich., to Howard City, Mich., 157 miles; branches—Stanton June,
572,364 to Big Rapids, Mich., 63 miles; Belding Branch, Hg miles; leased, Grand
225,213 f
Trunk June, to Detroit, 3 miles; Lansing to No. Lansing, 1 mile; St.
j
Louis to Alma and Lake View, 36 miles; total operated, 261 miles. A
consolidation, A p l.ll, 1871, of the Detroit Howell & Lansing, the Ionia
Total disbursements,. 1,900,749
2,600,799
572,364 & Lansing and the Ionia Stanton & Northern railroads, under the name
Balance, surplus . . .
719,879
132.167
1,678,643 of Detroit Lansing & Lake Michigan RR., which was sold in foreclosure
—(V. 40.p. 181,453, 480, 508, 652, 716, 763; V. 41. p. 76,102,113,133, Dec. 14,1876, and new stock issued as above. In July, 1883, leased
189, 241, 306, 330, 356, 420, 445, 472, 556, 581, 688, 720; Y. 42, p. 60 the Saginaw & Western and endorsed the bonds. (See V. 36, p. 674.)
9 3 ,19 7 ,2 1 5 ,30 4 ,3 6 4 ,43 0 ,4 8 7 .)
1882.
1883.
1884.
1885.
D enver Sc R io Grande W e ste rn (n a rro w gau ge).—The mort
225
260
261
261
gage covered lines in Utah Territory of about 469 miles in all, of Miles of road oper’d.
which there were completed 368 miles, Salt Lake City to Pleasant Val Total gross earnings. $1,597,142 $1,596,444 $1,328,592 $1,228,471
ley coal mines, 106 miles, Biugham Junction to Alta, 18 miles; Bing Net earnings..............
$461,082 $537,874
$463,322
$457,100
ham Junction to Bingham, 16 mill s ; Clear Creek to P. V. Junction, i4 Interest.............. .......
10,425
4,965
............
............
miles; P. V. Junction to Colorado border, 176 miles; from Salt Lake
City to Ogden and branches, 37v miles. The stock issued on 469 miles
Total in com e.....
$471,507
$542,839
$463,322
$457,200
$7,500,000. About $1,000,000 bonds have also been issued on road only
partially completed. The road was leased for 30 years to the, Denver Interest on debt........
$233,975
$248,335
$265,894
$267,019
& Rio Grande, at 40 per cent of gross earnings, with a guaranty of Dividends*.................
175,230
284,995
230,465
175,700
interest by the lessee on $7,500,000 1st mort. bonds so far as issued. In
August, 1884, W. H. Bancroft was appointed receiverof tlieD &R. G.W.
Total disbursem’ts.
$409,205
$533,330
$496,359
$442,719
The gross earnings for 1885 were $1,021/ 87; net, $307,505; rental of Balance, surplus.......
$62,302
$9,509 def. $33,037 sur. 14,481
rolling stock, $55,486; surplus, $252,019. For two months from Jan.
1 to Feb. 28 gross earnings were $127,590 in 1886, against $126,253 ;
* In 1881 and 1882 7 p. ct. on common; in 1883, 6 on com. and 7 or.
net $31,687 in 1886, against $4,904.
A proposition to bondholders pref.; in 1884, 3 on com, and 7 on pref; in 1885, 7 on pref.
August 27,1885, by Mr. W. J. Palmer, the Presi lent, was given in V. 41, - (V . 40, p. 4 5 2 ; V. 42, p. 186.)
p. 273, and proposed the reduction of interest on the bonds on a graded
scale till September, 1889, when the coupons would be paid in full again.
D etroit M ackin ac Sc M arqu ette.—Owns from Straits of Mack
This plan was accepted by a large number and their coupons have been inac to Marquette, 152 miles; branch projected to Sault St. Marie,
paid in part. In April, 1886, all differences were settled with the D. < 48 miles. This road is intended to form, in connection with others
fe
R. G. Co.; the old guaranty is to be released, the two roads operated sepa already built, a line along the south shore of Lake Superior. The stock
rately but harmoniously, and in lieu of the guarantee on bonds the D. < is $4,750,000 outstanding. The land bonds receive 25 per cent of net
fc
R. G. W. receives rolling stock, which is made subject to the mortgage proceeds of land sales as their yearly income. In October, 1884, default
lien. (V. 40, p. 181; V. 41, p. 102,273,356,445,472,494,505,527,578. was made in payment of interest, but bonds were mostly held by the
653; V. 42, p. 93,124,186, 207, 304, 430, 447, 4o7.)
contractors, and some agreement was made with them. Gross earnings
for 1885, $219,138; net, $20,686. Grossin 1884, $213,513; net,$12,804.
D enver S o u th P a rk Sc Pacific (3 f t . ) —(«See Map o f Union James McMillan, President.
Pacific).—Denver,Col., to Nathrop, 137 miles; Nathrop to Gunnison, 65
D ubu qu e Sc D a k o ta .—Owns fromWaverly to Hampton, 41 miles,
miles; Gunnison to Mount Carbon, 17 miles; Garos to London Junction,
15 miles; Como to Keystone, 35 miles; Bear Creek Junction to Morrison, and from Sumner. Ia., to Waverly, Ia, 23 miles. Built on the old grading
10 miles; Dickey to Leadville, 34 miles; Como to Mines, 4 miles • of the Iowa Pacific. The Dubuque & Sioux City Co. guarantees the bonds
Bchwanders to Buena Vista, 4 miles; total, 321 miles. First mortgage issued for construction to the extent of $10,000 per mile. Bonds may be
bonds issued at the rate of $12,000 per mile of finished road. In Oct.. paid off at any time at 105. Pref. stock $420.000 and ordinary stock
1880, the consol, mortgage was made for $15,000,000, to be at $17,000 $159,500. Gross earnings in 1884, $71,720; net, $23,073. Gross in
per mile on whole road, old and new, less the amount of 1st mortgage 1883. $75,115; net, $22,308.
©n the old. Stock owned by Union Pacific is $6,042,500, and the Union
D u bu qu e Sc Siou x City—(See Map o f Illinois Central).—0 „ n s
Pacific operates the road but has made no guaranty of the stock or
former Dubuque &
bonds. In 1884 gross earnings, $1,194,069; deficit on operations, $296,- from Dubuque, Iowa, to Iowa Fails, 143 miles. The organized. Leased
Pacific was foreclosed in 1860, and present company
991; deficit under interest, «fee., $549,193. In 1883 gross earnings, to Illinois Central from Oct. 1,1867, for 20 years, the lessees agreeing
1,557,020 ; net, $48,749; deficit under interest, &c., $166,657.
to pay 35 per cent of gross earnings for ten years and 36 per cent for
next
lease perpetual at
D es M oin es & F o rt D od ge.—Owns from Des Moines to Fort rate. ten years, with privilege to make theagainst $1,092,024 the latter
Gross earnings in 1884, $<22,303,
in 1883.
Dodge, Iowa, 87 miles, with an extension 56 miles to Rutliven, con In 1884 rental from lessee $292,373 ; other income, $31,638; total net,
necting with Chicago Mil. < St. Paul. First 87 miles originally a div $324,011; interest, &c., $62,666; dividend of 4 per cent, $199,976;
fe
ision of the Des Moines Valley RR., built in 1870 ana sold out in balance surplus, $61,369; total surplus Deo. 31,1884, $156,680. M. K.
1873. Common stock, $4,283,000; preferred, $758,280.
Four coupons, Jan. 1885 to July 1886 inclusive, will be paid one-half Jesup, President, N. Y. City. (V. 40, p. 240 337: V. 41, p. 356.)
in cash and one-half in the company’s notes due Jan. 1,1888, and bear
D u lu th Sc W in n ip e g .—Projected from Duluth to Manitoba
ing 6 per cent interest.
boundary line, 280 miles. The land grant amounts to 1,800,000 aores,
Lands owned, about 7,042 acres, and balance due on land contracts, which is subject to the first mortgage. The stock is $5,000,000. Wm.
$91,822. Gross earnings from Jan. 1 to Feb. 28,1886, were $50,351, W. Spalding, President, Duluth.
2,036,813
317,752
246,234
............1
A pr il ,
1886. |
RAILROAD
STOCKS
AND
43
BONDS.
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered in these Tables.
Bonds—Princi
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size or
pal,When Due.
Amount
of
of
For explanation of column headings, &e.,see notes
Par
Rate per When Where Payable, and by Stocks—Last
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
Dividend.
Whom.
30
East Broad Top.—1st mortgage, registered.............
36
East Pennsylvania—Stock...........................................
36
1st mortgage.............................................................
East Tennessee Virginia < Georgia—Common stock. 1.123
&
1.123
Consol, mort., gold (for $22,000,000)..................... 1.123
....
Funded coup, bonds (secured by the coups.)........
....
Consol, mort., “ Divisional” b on d s.........................
Income bonds, gold..................................................
Old 1st mortgage sinking fund bonds..................... 242
112
East Tenn. & Georgia, endorses.............................
East Tennessee & Virginia (endorsed).................... 130
....
2d mortgage to U. S. Government..........................
95
Alabama Central, 1st mortgage, gold, coupon—
....
Cinn. & Georgia RR., 1st mortgage.......................
....
Car trust bonds, (including interest).....................
Ten-year debentures............................................ —•
Eastern (Mass.)—Stock.................................................
Essex R R .lst mort. (extended for 10 years)........
285
___
Eastern (fr. H.)—Stock.................................................
Eel River—Stock............................................................
Elizabeth. Lex.dbBig Sandy—1st mortg., gold...........
16
94
110
1st m ort....................... - .............................................
Elmira Jeff.<& Canandaigua—Stock..........................
Elmira c£ Williamsport—Stock, common...................
Preferred stock...........................................................
1st mortgage bonds.......... ........................................
Income bonds, 999 years to ru n .............................
Erie
Pittsburg—Stock................................................
120
120
47
77
77
77
100
1873
....
1858
1880
1885
1880
1881
1870
1856
1856
1872
1879
1883
1884
1885
1851
1876
1872
1884
1884
....
....
....
1860
1863
$1,000
$500,000
50
1,714,950
100 &c.
495,900
100 27.500.000
100 16.500.000
1.000 14.674.000
1,467,400
1,000
2,867,000
1,000 16,500,000
3,123,000
1,000
1,000
92,000
1,000
147,000
95,000
1,000
1,000,000
1,000
2,000,000
2,100,000
1,000
600,000
1,000
2,000,000
100
4,997,600
100 &o.
194,400
500 &c. 13,462,920
100
492,500
100
2,792,800
1,000
3,500,000
38.000
750;000
1,250,000
100
500,000
50
500,000
50
500,000
1,000
1,000,000
500
570,000
50
1.998,400
D u n k irk A lleg h en y V a lley & P ittsb u rg . -Owns from Dun
kirk, N. Y., to Titusville, Pa., 91 miles. A consolidation of the Dunkirk
Warren & Pittsburg and Warren & Venango in 1872. Is leased to N. Y.
Central & Hudson River Co., but accounts are kept separate. Capital,
1,300,000. There is usuallv an annual deficit below the interest charge,
ut the N. Y Central & Hudson River Co. hold $2,920,000 of the securi
ties. Gross earnings in 1883-84, $279,719; deficit, $2l,200. Gross in
1884-85, $216,796; deficit, $6,769.
E a st B ro a d T o p (P a .)—Owns from Mount Union. Pa., to Robertsdale, Pa., 30 miles. A coal road, opened in 1874. The stock is $815,602,
In 1882-83 gross earnings were $90,842; net, $2,385. In 1883-84,
gross, $85,539; net, $19,405.
B ast P e n n sy lv a n ia .—Owns from Reading, Pa., to Allentown, Pa.,
36 miles. It is leased for 999 years from May 1,1869, to the Philadel
phia & Reading RR., at a rental of 6 per cent per annum on the stock
and interest on the bonds. James F. Smith, President, Reading.
B ast Tennessee V irg in ia & G eorgia.—(.See Map.)—The East
Tennessee Virginia & Georgia Railroad is composed of the following
lines, which were consolidated July 20, 1881, under the above title:
The East Tennessee Virginia & Georgia Railroad, the Macon & Bruns
wick RR., the Cin. & Ga. RR., the Knox. & Ohio RR., and the Alabama
Cent. RR., making a total of 1,098 miles June 30,1885, made up as fol
lows : Bristol to Chattanooga, Tenn., 242 m.; Morristown to Unaka, 44 m.;
Knoxville, Tenn., to Jellico, 66 m,; Cleveland to Selma, 264 m.; Selma to
Meridian, 113 m.; Ooltewah to Cohutta, 11 m.; Rome, Ga., to Macon, 159
m.; Macon to Brunswick, 190 m.; Cochran to Hawkinsville, 10 m.
The company owns 1,080 miles of railroad and uses 18 miles more. It
al&o operates under a lease for twenty years from July 1,1879, the lines
of the Memphis & Charles RR. Co., from Chattanooga to Memphis, Tenn..
310 m., and the Florence and Somerville br’ches, 20 miles, in all 330 m.,
making a total of 1,453 m. of owned and leased lines.
The lease of the Mem. & Char. RR. was an operating lease simply, and
various differences were settled by the acquisition of a majority of the
capital stock of the Mem. & C. Co. by parties controlling the E.T.Va.&Ga.
See in V. 41, p. 102, the arrangement by which the $2,000,000 of Knox
ville & Ohio bonds (road Knoxville to Jellico) were disposed of, and other
securities taken. The E.T.Va.& Ga. holds a majority of the K.& O. stock.
In January, 1885, default was made on the consol, mortgage interest,
receivers were appointed, and a plan for funding certain coupons was
proposed, but eventually failed. The new plan, which immediately re
ceived the assent of the larger holders of the consol, bonds, was given in
the Chronicle , V. 42, pp. 155 and 186, embracing the following points:
Foreclosure under the consolidated mortgage ana the issue of a new 5
per cent mortgage for $20,000 000. The old consols, and aocrued inter
est take 60 per cent in new consols, and 50 in 1st pref. stock; the Cinn.
& Ga. mortgage bonds and debentures of 1884 take 48 per cent in new
consols ana 62 per cent in 1st pref. stock. Income bonds are assessed 5
per cent, pref. stock 6 per cent, and common stock 2410 per cent, receiv
ing new securities as specified in the plan.
For eight months from July 1 to Feb. ¿8 gross earnings were $2,892,877 in 1885-86, against $2,869,122 in 1884-85; net, $1,204,731, against
$1,067,201.
The fiscal year ends June 30. The annual report for 1884-85 was
published in the Chronicle, V. 41, p. 611:
INCOME ACCOUNT.
1884-85.
1883-84.
Receipts—
1882-83.
$4,c21,567
$4,173,263
Total gross earnings............... $3,776,784
$1,288,343
$1,699,925
Net earnings............................. $1,393,082
Disl ursements—
1,460,651
$1,402,995
Interest on debt....................... $1,308,539
62,213
Other interest..........................
192,775
147,754
49^617
Taxes.........................................
74,768
Miscellaneous.. .*......................
517
t
Total disbursements........ $1,576,599
$1,452,612
$1,678,618
Balance..................................... def.$183,517 sur.$247,313 def.$390,275
Mr. Henry Fink, the receiver, in his report of operations for the fiscal
year ending June 30, 1885, said:
* The receiver’s liabilities on the 30th day of June, 1885, exceeded
•
his resources by $53,841. The liabilities do not include $213,740, the
interest due July 1,1885, on the company’s divisional bonds. The com
pany’s liabilities other than for matured interest on its bonded debt, as
far as tuey have been ascertained and audited, amounted June 30,1885,
to $118,792. These liabilities were incurred mainly for labor, mater
ials and supplies necessary for the maintenance and operation of the
road. The court has at yet issued no order authorizing the receiver to
pay these claims against the company.”
*
*
*
*
“ On the 3d day of March, 1885, the East Tennessee Virginia &
Georgia Railroad Company entered into a contract with Post, Martin &
Co., for the consolidation of the three car trusts (A, B .& C), and the
extension of certain payments on account of car trust A. This con
tract having been submitted to the court, the receiver was authorized
and directed during the term of the receivership to make any and all
payments coming due under the lease warrants under said contract,
and to do each and everything in pursuance of said contract which the
railroad company agreed to do. A table in the repoit gives all the dates
at which payments are to be made from April 1,’85, to Oct. 1, ’94,” * y
4
3
7
J. & J. Philadelp’a, Co.’s Office. July 1, 1903
J. & J. Phila., by P. & R.% R. Jan. 19, 1886
M. & S. Phila., P. & R. office.
Mar. 1, 1888
5 s. J. & J. Last paid Julv, 1834.
6
J. & J. In. Y., Central iru st Co.
J. & J.
5
do
do
6
Oct.
do
do
J. & J.
do
do
7
J. & J.
do
do
6
M. & N.
do
do
6
do
do
4
J. & J.
do
do
6
J. & J.
J. & J. Last paid July, 1884
6
do
do
J. & D. Last paid Dec., 1884.
6
New York.
6 g. J. & J.
Boston.
3
J. & J.
Boston, Office.
M. & S.
6
Boston and London.
6 g. M. & S.
2*4 J. & D. Boston, by Treasurer.
1
Q .-M . Boston, by Treasurer.
M. & S. N. Y., Mills Building.
1, 1930
1, 1895
1, 1930
1, 1931
1, 1900
1886
May 1, 1886
Jan. 1, 1887
July 1, 1918
July, 1923
1885-94
1885-94
July 1, 1925
July 15.1873
Sept. 15,1886
Sept., 1906
Dec. 15,1885
Moh. 5,1884
Mar. 1,1902
115 B’way, New York,
do
do
Baltimore, N. Cent. RR.
Phila., Penn. R. R. Co.
do
do
do
do
do
do
N. Y., Union Trust Co.
April 1, 1914
April 1, 1914
Mar., 1883
Nov. 1, 1885
Jan. 1, 1886
Jan. 1, 1910
Oct. 1, 2862
Mar. 10, 1886
I 8'
A. & O.
6
3, 4 ,5 J. & J.
3
M. & S.
2ifl M. & N.
3 ^ J. & J.
6
|j. & J.
5
[A. & 0.
134 1 Q .-M .
July
July
July
Aug
July
—(V. 40, p. 4, 29, 60, 151, 181, 363. 394, 508, 569, 652, 763 ; V. 41, p.
102, 174, 189, 241, 306, 356, 472, 556. 578, 6 1 0 ,6 1 1 ,7 4 4 ; V. 4 2, p.60,
124, 155, 186, 207, 272, 364, 430, 463, 479.)
Eastern (m a ss.)—Owns from Boston, Mass., to New Hampshire
State Line, 41 miles; branches—
Salem to Marblehead, 4miles; Bever
ley to Gloucester, 17 miles; Salisbury to Amesbury, 4 miles ; Revere
to East Boston, 3 ^ miles; Peabody to Wakefield, 8 miles; Salem
to Lawrence, 2 0 miles; others, 22 miles; leased—Eastern RR. of N. H., 16
miles; Newburyport City RR., 3 miles; Portland Saco & Portsmouth, 51
miles; Portsmouth & Dover, 11 miles; Portsm. Gt. Falls & Conway, 73
miles; Wolfeboro Railroad, 12 miles; total operated, 285 miles.
In March, 1883, a lease of this road to the Boston & Maine was voted
for fifty-live years, but in November, 1884, this lease was decided to be
illegal in some respects, and a new one was negotiated for 54 years,
from Oct. 1,1883, on the basis of combining the total earnings, paying
all charges, and dividing the surplus income as follows : 1. To B. & M.
$630,000 (9 per cent on its stock); to Eastern, $100,000 for sinking
fund; to B. & M., $70,000; to Eastern, $336,000; balance to be spent
by lessee on both properties pro-rata. Mortgage notes are $684,300,
secured by real estate. The last annual report for the year ending
Sept. 30, 1885, gave the following result of operation with Boston &
Maine. Surplus to be divided. $834,511; divided, in accordance with
the terms of the lease, as follow s:
To Bos. & M. To Eastern.
Boston & Maine Railroad (9 p. c .).......................$630,000
$ ..........
Eastern Railroad......................................................................
100,000
........
Boston & Maine Railroad (1 p. o.).......................... 70,000
E astern Railroad, balance......................................................
34,511
Total.................................................................... $700,000
$134,511
- ( V . 40, p. 27, 508; V. 41, p. 527,688, 720.)
B astern (N . H , ) —Owns from Portsmouth, N. H., to Seabrook
(Massachusetts State Line), 16 miles. It was formerly leased for 99
years to the Eastern (Mass.) Railroad, and a new lease was made from
Oct. 1,1878, for 60 years and two months at $22,500 per year, equal to
4Lj per cent per annum. Moody Currier, President, Manchester, N. H.
E el R iv e r .—Owns from Logan sport., Ind., to Butler, Ind., 94
miles. This was formerly the Detroit Eel River & Illinois Railroad,
sold under foreclosure July 6, 1877, and reorganized under present
name Dec. 10,1877. In August, 1879, it was leased to the Wabash St.
Louis & Pacific Railroad for 99 years, at a rental of 3 per cent per
annum on the stock for two years, 4 per cent for three years, and 4*a
per cent thereafter. Default by lessee on the rental was made in 1884.
—(V. 41, p. 585.)
E liz a b eth to w n L ex in g to n Sc B i s Sandy.—Road owned Jan.
1885, Lexington to Junction, with A.C. &T. Co., near Denton, 102 miles
A. C. & L Junction to Big Sandy River, 7 miles; total owned 110 miles
.
Leased Junction with A. C. & I. Co., near Denton to A. C. &I. Juno., 21 m.
West Side Big Sandy River to Huntington, 9 m iles; total operated, 139
miles. Charter permits extension to Elizabethtown. It is the connect
ing line of the Chesapeake & Ohio and controlled by the same parties.
Authorized capital of the company is $5,000,000, with a provision in the
charter to increase it to $10,000,000 to build the line from Lexington to
Elizabethtown. Amount issued $3,217,900, and $291,906 to be issued.
The annual report for 1885 was in V. 42, p. 461. For two months
from Jan. 1,1886, gross earnings were $122,909, against $104,323;
net, $30,411, against $29,900. In 1884, net earnings were $258,052; all fixed charges, $224,717. For year 1885 gross earnings were
$?06,943; net $244,001; rentals and interest, $216,120. (V. 40, p. 61,
427, 5 6 8 , 686; V. 41, p. 161, 527, 653; V. 42, p. 60, 124, 242, 338,
365, 4 6 1 .)
E lm ir a C ortland Sc N orth ern .—Elmira. N. Y., to Canastota, N.
Y., 120 miles, of which Elmira to Horseheads, 5 miles, and Cortland to
De Ruyter, 20 miles, aie leased for 499 years. Organized May
11,1878, as successor of the Utica Ithaca & Elmira RR. Co., foreclosed
April SO, 1878. Again sold in foreclosure Feb,, 1884, and re organized
as at present. The 1st mort. for $1,250,000 bears 3 p. ot. for 3 years, 4
p. ot. for 2 years, then 5 p. ct. Stock is $2,000,000. Austin Corbin, Presi|dent, New York City.
E lm ir a Jefferson Sc C a n a n d a ig u a .- Owns from Canandaigua,
N. Y., to Watkins, N. Y „ 47 miles.
The road was foreclosed and
reorganized under present name Feb. 18,1859. It was leased to New
York & Erie for 20 years from Jan. 1,1859, and the lease transferred
toN . Cen. RR. in 1866 at a rental of $25,000 per year. Lease termi
nated Jan., 1879, and road now operated at cost by North. Cent., whioh
company owns the whole stock. Gross earnings in year ending Sent. 30,
1883. *368,842; net, $92,729. In 1833-84, gross $312,317; net, $50,154.
E lm ir a Sc W illia m sp o rt.—owns irom Williamsport, Pa., to
Elmira, N. Y., 76 miles. This company was reorganized under the
present name Feb. 29,1860, and leased to the Northern Central Rail
way for 999 years from May 1,1863, at a rental of $151,500 per annum
after Jan. 1,1880. The dividends on the common stock are 5 per cent
and on the preferred 7 per cent. Gross earnings in 1882-3, $903,269 ;
net, $309,010; surplus to lessee, $136,918. Gross earnings in 1883-4,
$777,166; net $226,383; surplus to leasee. $52 178.
B rie Sc P ittsb u rg .—Owns irom New Castle, Pa., to Girard, Pa.,
82 miles; branch, Dock Junction to Erie Docks, 3 miles; leased—
Girard to Erie, 15 miles; total operated, 100 miles. Road opened in 1865It was leased to the Pennsylvania RR. for 999 years from March 1,
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RAILKOAD STOCKS AND
A p r il , 1886.
45
BONDS.
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered in these Tables.
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due.
Miles Date Size, or
Amount
Par Outstanding Rate per When Where Payable, and by Stocks—Last
of
For explanation of column headings, &c., see notes of
Dividend.
Whom.
Cent. Payable
Road. Bonds Value.
on first page of tables.
Erie < Pittsburg—(Continued)—
&
2d mortgage, convertible..................... - - - - - -Consol, mort. free of State tax (for $4,500,000)...
Equipment bonds....................- ...................... .........
European < No. American—Stock, guar. 5 per ct---.
t:
Evansville < Indianapolis—1st mort. (guar.), gold..
&
Evansville < T. Haute—Stock................... -,-................
&
1st mortgage, Evansv. &I11., sink, fund— - - - - - 1st mort.Evans.& Cr.,sink.fund,(Evansv. to T.H.)
1st consol, mort., gold (for $3,000,000) - ---- -- - - -1st mort., Mt Vernon Branch, gold (for $375,000)
Evansville Terre H. < Chic.—IstM ., gold,mt. guar..
&
2d mortgage, gold........ .......................................
Fitchburg—
Sifoes............................... .......................
Bonds, coupons, ($4,950,000 authorized)........
Boston Barre & Gardner, 1st m ortgage............
do
2d mortgage....
..
do
3d mortg. (convertible mto stock)
Flint < Pere Marquette—Preferred.stock .................
&
Reorganization mortgage, gold ($5,000,000)........
Flint & Holly R R ....................... ...............................
Bav County, issued in aid, guar.by lessees. .......•■
Holly Wayne < Mon., 1st mort., smk. fund, guan
fe
Florida Railway Nav.—F . C. & W., 1st mort., gold
Florida Transit—1st mortgage...........................
Peninsular of F lorida -1st m ortgage................
Fla.Ry.& Nav., consol, mort. gold.....................
Femandina & Jacksonville.................. - - ...............
Fonda Johnstown <•Gloversville—1st m ortgage.......
£
Consol, mortgage— ............. --- — --- — - - .........
Fort Madison & Northwestern—1st mort., g o ld ......
Fort Wayne < Jackson—Pref. stock, (8 per cent)---e
Common stock.................. .........................................
si^
100
100
114
54
146
51
109
144
25
55
55
190
1865
1868
1870
1884
1852
1854
1881
1883
1870
1872
lOO&c
$1,000
1,000
100
1,000
50
1,000
i;ooo
1,000
l)000
l)000
1)000
100
’74-’81 1,000
10Ò &c.
38is
1RS!
361
302
17
65
234
155
50
530
24
10
26
45
97
97
1880
1868
1,000
500 &e.
500
1,000
1871
1882
1,000
1,000
1881
1,000
1876
1,000
1884
1,000
1883
1870 10Ó &c.
1880 100 &c.
1880
1870, at a rental of 7 per cent on stock and interest on the bonds,
and the lease was transferred to the Pennsylvania Co. The lease has
been quite unprofitable to the lessees; the deficiency paid by them in
1881 was $233,522; in 1882, $207,651; m 1883, $260,07 i, and in 1884,
$307,841.
E u r o p e a n Sc N orth A m e r i c a n . — Owns from Bangor, Me.,
to Vanceboro (State Line), Me., 114 miles. Road was worked in
connection with the St. John & Maine, making an unbroken line from
Bangor. Me., to St. John, N. B., 205 miles. On Aug. 31, 1882, a lease
was made to the Maine Central for 99 years, for $125,000 per annum,
equal to 5 per cent per annum on the stock, and assuming the bonded
debt of $1,000,000, which is given under Maine Central.
E v a n sv ille & I n d i a n a p o l i s .—Operates from Evansyiüe to Wash
ington, Ind.. 57H miles, of which 3*2 is owned by the E. & T. H. This
was formerly the Iudianapolis < Evansville road, and was foreclosed
fc
June, 1884, and reorganized under this name. The stock is $500,000;
the bonds are guaranteed by the Evansville & Terre Haute Co.
E v a n sv ille Sc Terre H a u te . —Owns from Evansville, Ind., to
Terre Haute, Ind., 109 miles; Owensville branch and extension, 37
miles; total operated, 146 miles. The Rockville Extension, 23 miles
additional, is leased to the Terre Haute & Logansport for 99 years from
Nov 1 1879. For merly the Evansville & Crawfordsville RR. Co. The
20 per cent stock dividend of 1884 was the distribution of $500,000
which had been held for some time in the treasury. Annual report for
1884-5 in V. 4 1 ,p. 526. Gross earnings year ending Aug. 31, 1884,
$753,107; net, $387,297; in 1884-85, gross, $718,823; nei, $357,600.
—(V. 41, p. 472, 5 2 6 ; V. 42, p. 463.)
E v a n sv ille Terre H a u te Sc C h icago.—(See Map o f Chicago
dt East Illinois RR.)—Owns from Terre Haute Junction, Ind., to Dan
ville HI., 49 miles; leased, 6 miles; total operated, 55 miles, It uses 6
miles of the track of the Rockville Extension into Terre Haute; also
leases the Indiana Block Coal road. 15 miles. On April, 30, 1880, a
lease to the Chicago & Eastern Illinois was made for 999 years; terms,
$75,000 per annnm and the assumption by the C. & E. I. of all rentals
and taxes paid by E. T. H. & C. The bonded interest was reduced to 6
per cent and preferred stock for $100,000 issued for overdue coupons;
common stock, $600,000. Josephus Collett, President, Terre Haute. Ind.
F itc h b u r g .—Owns from Boston, Mass., to Fitchburg, Mass, (double
track), 50 miles, and B. Barre & Gard. RR., Worcester to Winchendon, 36 miles; branches—Charlestown, 1 mile; North Cambridge
to Waltham, 7 miles; South Acton to Marlborough, 12 miles;
Peterborough & Shirley, Ayer, Mass., to Greenville, 24 miles; AshburnTiam branch, 3 miles; leased and operated—Vermont & Mass. RR.,
Fitchburg to Greenfield, 56 miles; Turners Falls Branch, 3 miles;
Trov & Greenfield RR.. Greenfield to North Adams, 37 miles; total, 193
miles. The Troy & Greenfield RR. and the Hoosac Tunnel, owned by the
State of Massachusetts, have been operated by this company, and are
now contracted to it for seven years from Sept. 30, 1880. There are
notes out for $351,500. In May, 1885, 5 per cent new stock was sold
at par to stockholders, and also stock for absorption of Boston Barre &
Gardner RR. stock on basis of one share Fitchburg for ten of B. B.
& G. The annual report for 1884-85 was in Chronicle, V. 42, p. 92.
The income account for four years past (ending Sept. 30) w a s:
1884-85
1883-84.
1882-83.
1881-82.
$
$
Receipts—
$
$
673,159
666,752
670,737
444,843
Net earnings............
71,130
58,500
107,000
161,000
Premiums and rents
Total incom e........
Disbursements—
Rentals p a id ............
Inteiest on debt.......
Other interest..........
Dividends.................
Rate of ¿hvCidettd___
605,843
777,737
725,252
744,290
239,572
152,500
46,229
297,000
(7)
230,164
177,500
51,225
297,000
(6)
246,809
200,000
12,332
272,250
(6)
252,581
220,688
247,500
(5)
720,769
755,889
731,391
735,301
Total disbursem’ts
def.6,139 sur.23,521
Balance..................... def.129,458 surp,21,848
-<V. 40, p. 337,481, 569, 625 ; V. 41, p. 585 ; V. 42, p. 92.1
F lin t & Pere M arqu ette.—Owns from Monroe, Mich., to Ludington, Mich., 253 miles; branches—Bay City to East Saginaw, 12
miles; Flint Junction to Otter Lake, 20 miles; South Saginaw branch,
5 miles; Harrison branch, 30 miles; Manistee branch, 26 miles;
Saginaw & Mount Pleasant Railroad, 15 miles; total operated,
362 miles. A Receiver took the old company in June, 1879; the
road was sold August 18,1880, under the consolidated mortgage, and
reorganization was made and preferred stock ($6,500,000) issued for the
consolidated mortgage bonds, and common stock ($3,500,000) is to be
issued for the old stock. The common stock has no present right to vote
or to receive dividends, and will be issued only after the preferred
stockholders have received 7 per cent yearly dividends for five con
secutive years. The preferred stock is not cumulative, and after 7 per
cent per annum is paid on both classes of stock, the balance of income,
if any, is to be divided ratably.
On Jan. 1, 1886, the land notes (principal and interest) on hand for
lands sold were $376,912, and lands yet unsold 95,914 acres. The
A. & O. N. Y., Union Trust Co. Mar. 1, 1890
7
91,800
July 1, 1898
J. & J.
do
do
7
$2.485,000
Oct. 1, 1900
A. & 0.
do
do
7
685,000
Bangor.
April 15, 1986
A. & O.
2,500,000
213
6
J. & J. N.Y.. Farm. L. & Tr. Co. July 1, 1924
1,000,000
....
April 2, 1886
1
Company’s Office.
3,000,000
J. & J. N.Y.,Farm. L’arnfe T.Co. July 1, 1887
7
246,000
M. & N.
Nov. 1, 1887
7
do
do
606,000
July 1, 1921
do
do
6 g. J. & J.
2,148,000
April 1, 1923
do
do
200,000
6 g- A. & O.
6 g. M. & N. N.Y.,Farm.L’an & T.Co. May 1, 1900
775,000
Jan. 1, 1902
do
do
6 g. J. & J.
325,000
Jan. 1, 1986
Boston, Office.
5,286,500
213 J. & D.
1894 to 1903
do
4,507,000 5, 6 & 7 A. & O.
A. & O. Worcester, City Nat. Bk. April 1, 1893
5 &7
390,000
July 1, 1895
do
do
3
186,300
July 1, 1895
do
do
6
J. & J.
57,300
2
J. & J. N. Y., Mer. Ex. Nat. Bk. Jan. 16,1886
6,500,000
Oct. 1, 1920
do
do
A. & O.
3,924,000
6 gM. & N. N. Y., Meehan. Nat. B’k. Mav 1, 1888
10
300,000
M. & S. N.Y., Merch.Exch. N.Bk Sept. 1, 1887
10
75,000
J. & J. N.Y.. Merch. Nat. Bank. Jan. 1, 1901
8
1.000,000
2,808,000
5 g- J. & J. N. York or Amsterdam. April 1, 1922
Mar. 1, 1911
do
do
M. & S
6
1,000,000
May 24, 1906
New York.
J. & J.
7
250,000
July 1, 1924
do
4,042,000
6 g- Q .-J .
July 1, 1923
do
J. & J.
6
380,000
J. & J. N. Y., St. Nich. Nat. B’k. July 1, 1900
7
300,000
May 1, 1920
do
do
A. & O.
6
200,000
320,000
7 g. A. & O. Last paid April, 1893. April 1, 1905
March 2,1886
2% M. & S. N Y.,Farmers’ L.&Tr. Co
2,287,832
....
....
431,747
total amount of cash collected in 1885 was $191,574. Annual report
for 1885, in V. 42, p 486. Earnings and operations for four years past
OPERATIONS AND FISCAL RESULTS.
1884.
1883.
1882.
361
361
346
1885.
361
Miles operated
Operations—
882,659
757,102
1,048,496
Passengers carried—
994,225
Passenger m ileage_ 29,546.975 32,213,590 27,231,295 23,380,115
_
1,223,679 1,135,270
1,442,8*4
Freight (tons) moved.. 1,137,589
Freight (tons) mileage..92,953.733 123.112,615 101.989,077 98,250,979
Rate per ton per mile.. 1*42 cts.
1-31 cts.
1 39 cts.
1‘26 cts.
$
$
__$ -■
Earnings—
$
735,067
636,750
Passenger__. . . . . . . . . . .
795,839
874,641
1,457,169 1,247.383
F reigh t.......................... 1,317,042
1,610,510
60,752
62,657
67,342
57,792
Mail, express, &c..........
Total gross eam’s.. 2,180,223
Operat’g exp’s < taxes 1,432,209
fc
Net earnings..................
P. c. of op. ex. to earn..
Net earnings.................
Disbursements—
Interest on debt............
Dividends.................. .
Total disbursem’ts ..
2,542,943
1,735.517
807,426
748,014
6825
6615
INCOME ACCOUNT.
1883.
1882.
$
$
807,426
748,014
2,252,988 1,946,790
1,515,461 1,347,840
737,527
67-26
1884.
598,950
69-23
1885.
737,527
598,950
309,024
422,500
318,623
455,000
337,223
455,000
329,499
260,000
4,226
731,524
773,623
792.223
593,725
—(V. 40, p. 5 3 9 , 763; V. 42, p. 4 8 6 .)
F lo r id a R a ilw a y Sc N av ig a tion .—Miles owned as fo llo w s:
Jacksonville to Chattahoochee, 209 miles, and branches from Talla
hassee to St. Marks, 21 m iles; and from D rifto n to Monticello, 4 m.;
Fernandina south, 179 m iles; Waldo to Cedar Keys, 72 miles; Wild
wood to Leesburg, 22>3 miles; Hart’s road to Jacksonville, 221g m.;
total, 529 miles. In March, 1834, the Florida Central & Western, Florida
Transit & Peninsular, Fernandina & Jacksonville and the Leesom'g &
Indian River railroads were consolidated under this name. Thm-e have
been issued $16,000 6 per cent consolidated bonds, with $13,000
of preferred and $13,000 of common stock on each “ file constructed
and equipped. Of the above F. C. & W. bonds $1,000,000 are a
preferred lien “ series A,” the balance of the issue being known as
“ series B.” In Oct.,1885, a receiver (Mr. H. R. Duval) was appointed for
the whole property, and in February, I8s6, was authorized to spend
$800.0C0. It is stated that this step is taken in order to raise funds to
put the road and equipment in condition and to narrow the gauge m
conjunction with other Southern roads, B. S. Henning. President, N. Y.
City. Gross earnings for 1834, $1,001,590; net, $385,198; interest,
$343,900. (V. 41, p. 494 ; V. 42, p. 215.)
F o n d a J o h n sto w n Sc G lov ersv ille.—Owns from Fonda to
Gloversville, 26 miles. The stock is $300,000. Gross earnings in
1883-8 (,$158,680; net, $65,295; surplus over ^ charges and 913 per
cent dividend, $3,719. Gross earnings in 1884-85, $160,324; net,
$68,569; surplus over charges and 9 ^ per cent dividend, $8,364. W.
J. Heacock, President, Gloversville, N. Y.
F o rt M adison Sc N orth w estern .—Narrow gauge road from Fort
Madison, la., to McKee, la., about 45 miles. Stock, $425,600. De
fault on bonds was made October, 1834, and in July, 1885, a receiver
took possession, and it was proposed to issue new bonds at $14,000 per
mile, change the gauge ana complete the full line of 100_ miles and
retire old bonds by some settlement with the holders, either giving them
the new bonds or otherwise. C. A. Gilchrist, Receiver. (V. 40, p.3 3 7 ,
541.)
F o rt W a y n e Sc J a c k so n .—(See Map L. Shore < M. S.)—O^ras from
6
Jackson, Mich., to Fort Wayne, Ind, 97 miles. The former Fort Wayne
Jackson & Saginaw made default on its bonds and was sold in
foreclosure Dec. 3,1879. On Sept. 1,1882, leased perpetually to L. shore
& Mich. South, at a rental of $126,027, equal to 5*3 per cent on the pref.
stock, and after 1887 any net earnings over 8 per cent on pref. stock to
be paid as dividend on common stock, but not exceeding 2 per cent a
year.
F o r t .W a y n e C in cin n ati Sc L o u i s v i l l e .—From Fort Wayne,
Ind., to Connorsville, Ind., 104 miles; branch to RushviUe, Ind., 24
miles; total operated, 128 miles. The Fort Wayne Muncm & Cmcmr
nati Co. defaulted and a receiver was appointed Nov., 1874. The road
was sold in foreclosure, July 27, 1881, to Elijah Smith, for the bond
holders, for $1,000,000. The bondholders reorganized under tins name.
Gross earnings in 1884, $246,397; net, $33 3^8. Gross in l885^$227»841; net, $22,509; interest paid, $7,000- Elijah Smith, P rest,N . Y.
46
RAILROAD STOCKS AND
RONDS.
|Tol. XLII.
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f an y error discovered in these T able».
DESCRIPTION.
Bonds—Prinoi*
INTEREST OR DIVIDENDS.
Miles Date Size, or
For explanation of column headings, &c., see notes of
Amount
of
Par
Rate per When Where Payable, and by pal,When Due
on first page of tables.
Stocks—Last
Road. Bonds Value. Outstanding
Cent
Payable
Whom.
Dividend.
Fort Wayne Cincinnati < Louisville—Stock
6
Notes................................................ ............
Fort Worth < Denv. City—1st M.,gold ($25^000 p.m.
&
Frederick < Pennsylvania Line—1st mortgage
6
Galveston Harrisb.d S.Antonio—1st mort, gold, 1 ’¿r
2d mortgage........................................................ .7. ]
Western Division, 1st mortgage, gold
_ , .^ °
do
2d mortgage.!*..’ *”
.
Galveston Houston < Send, o f 1882—1st mort. guar
6
Geneva Ithaca < Sayre—1st mort., s. f., g old .. . ? . . .
£
Georgia Pacific—1st mort., $10,000 per mile
2d mort., income ($15,000 p. m .)................ ! .........
Georgia Railroad <- Banking Co.—Stock...
£
Bonds, not mortgage.......................................
Bonds, not mortgage ($300,000 mature in’ i9 2 2 )!.
Macon & Augusta, 1st mortgage............................
Grand Rapids & Indiana—Stock..................... '
1st mort., land grant, gold (guar, by Pa. RE,*/..."
1st mort., gold, ($675,000 are land grant)...
Six per cent mortgage.......................
Consol, mortgage for $13,000,000, coup, and reg*
Green Bay Winona <•St. Paul—1st mort. coup
£
2d mort. income bonds, reg.. non-cumulative .. ! ! !
Gulf Colorado < Santa Fe—1st M., g. ($12,000 p m )
&
2d mortgage ($8,000 per mile), gold..............
Hannibal & St. Joseph—Common s to ck ___
Preferred stock (7 p. c. yearly, not cumulative/.
Consolidated mort. (for $8,000,000)
Bonds Quincy < Palmyra R R ..............
&
Bonds Kansas City & Cam. R R ___
128
1883
1,000
Ì44 1881
1.000
28 1870 500 &c
256 ’71-’80 1,000
226 1880
1,000
671 1881
1,000
671 1881
1,000
50 1833
1,000
35 1870 100 &c.
313 1882
1,000
202 1883
1,000
307
100
500
77&80 1.000
1,000
77 1867
367
100
367 186*9
1,000
1,000
367 1869
367 1884
1,000
1,000
367 1884
219 1881
1,000
1,000
219 1881
625 1879
1,000
1,000
437 1883
292
100
292
100
292 1881
1,000
15
53 1867
.
W orth . & D enver City.—From Fort Worth, Tex., northwest,
to Harr old, Tex., 144 miles. Stock, $20,000 per mile, $2,880,000; par
value of shares, $100. The report for 1885 was in V. 42, p. 271. Gross
earnings year ending Oct. 31, 1885, $448,711; net, $197,632; fixed
charges, $154,200; surplus, $43,432.
For three months, Nov. 1 to Jan . 3 :, 1885-6, gross earnings were $101,358, against $81,666 in 1884-5; net, $33,379, against $42,565. Morgan
i 2 ? e8’A re8’ Fort Worth. (V. 40. p. 6 0 . 92, 240, 281,393, 4.'4, 508,
68L 763^ V^41, p. 23, 133, 241, 392, 494, 612, 688 ; V. 42, p. 22, 215,
$4,000,000
100,000
3,6 0,000
•250,000
4.756.000
635.000
13.418.000
3.354.000
2, 000,000
600.000
3.173.000
3.891.000
4.200.000
100,000
J. & D.
J. & D.
A. & O.
P. & A.
? * J. & D.
M. & N.
i g- J. & J.
A. & O.
5
7 g. J. & J.
6
J. & J.
6
A. & O.
2 is
Q .-J .
7
T & J
.
6
J. & J.
J. & J
7
Boston.
N. Y., Mercantile Tr. Co
Pennsylvania RR. Co.
N.Y.,D.,M.&Co.,&Lond
N. Y., Drexel, M. & Co,
New York,
do
New York.
N. Y., Metrop. Nat. B’k.
N. Y., Central Trust Co.
J. &‘ *J.
A. & O.
M. & N.
M. & S.
P. & A.
M. & N.
J. & J.
A. & O.
N. Y., Winslow, L. & Co.
do
do
do
do
do
do
Last paid Aug., 1884.
Last paid Nov., 1884.
N. Y.Nat.City Bk.&Galv.
New York, Nat. City Bk.
7
0 *
2.300.000
275.000
4,985,081
3.934.000
7 g.
1.441.000
2.700.000
I*
•
3.217.000
5
1.600.000
6
3.781.000
8
7.920.000
7 g.
5.0
)i>,000 g.
6
9,168.700
5,083,024
*3*
6, 000,000
5& 6
433.000
8
1.152.000
10
June 1, 1893
Dec. 1, 1921
Oot. 1, 1900
Feb. 1, 1910
June 1, 1905
May 1, 1931
July 1, 1931
April l , 1913
July 1, 1890
Jan. 1, 1922
Augusta,Ga., RR. Bank April 15, 1886
do
do
1890
do
do
97,1910,1922
do
do
Jan. 1, 1887
Oct.
Oct.
Nov.
Sept.
Feb.
May
July
Oct,
1,
1,
1,
1,
1,
1,
1,
1,
1899
1899
1899
1924
1911
1911
1909
1923
F. *&*A. N. Y., Company’s Office Feb. 15,1883
M. & S. N.Y., Bk.of No.America. Mar. 1,1911
F. & A.
do
do
Jan., 1892
J. & J.
do
do
Jan., 1892
ioa,G a.,t° Macon, Ga., 76 miles; total owned and operated, 307 miles
I S i ? ’9'e8t® M W of Alabama is controlled lointly with the Central
^n
-u '
t?
Georgia, this company holding one-half the stock of $3,000.000.
P«p+^aC0i1, Augusta, RR.. 76 miles, is owned by this company. The
Rprt,Rpyal & Augusta RR. is owned oue-flfth part by this comnanv •
the Atlanta & West Point thirty-five one hundredths bv this company7 ’
In April, 1881, a lease for 99 years was made to W. M. Wadlev and
mUroaa f ’J 0Lnnennontral ° f Georgiaand the Louisville & Nashville
d
railroads, at $600,000 per year, payable semi-annually, and dividends
are 2 ‘2 per
•
the deficit
in
F red erick & P en n sy lv an ia L in e .—Owns from Kingsdale to on the leasecent quarterly; In 1885-86 to these companies all 1884-85
was $98,599.
net income from
sources
Frederick City, Md., 28 miles. It is leased to Pennsylvania RR., which including bank, was $663,570, leaving a surplus of $70,918 above ali
in rei i , ? n flr8t mortgage. Preferred stock held by Pennsylvania
Ae,
I^ T ,?,4^ 1’0^ ’ c,omi?on stock, $318,100; floating debt, .coupons, &c.), s
r s w i i & i ' T su ,Iu oi ke- c°- m o“ r* *
"
$153,222. Charles E. Trail, President, Frederick City, Md.
G rand R a p id s & In d ia n a . - (See Map o f Pennsylvania EE.)—Owns
n ° ? I v . 8ii>n H a rrisb u rg & San A n to n io .—(gee Wap o f Southern
e
Pacific.)—Owns from Houston, Texas, to San Antonio, Texas, 217 miles; ?o0^ ° rtVL'.vatilad-’ l? Mackinaw City, 367 miles; Manistee Branch,
LaGrange Extension, 28 miles; Harrisburg to Pierce Junction, 8 miles; ¿2 miles; Missaukee Branch, 8 miles; Osceola Branch, 7 miles; total
o’*404-,mile,?,; leased and operated: Cm. Richmond & Fort Wayne
leased, Harwood to Gonzales, 13 miles; total, 266 miles. Western Ex
Little
tension, San Antonio to Rio Grande River, connecting with Southern RR.. 86 m iles; Traverse City Railroad, 268 miles; Bay View miles.
Traverse & Mackinaw Railroad, 6 m iles-1 1 miles. Total, 522
Pacific, 636 miles; Eagle Pass Branch, 35 miles; total Western Exten
A 9 e Grand Rapids & Indiana
di,011’ 661 miles. Grand total, 936 miles. The extensions to the Rio of the Pennsylvania Railroad Co., Railroad is operated in the interes
and $4,000,000 of the first mortgage
Grande at Eagle Pass and to El Paso were completed late in 1882
bonds were
company, which buys the coupons each
This company was successor to the Buffalo Bayou Brazos & Col. Rail- year if any guaranteed by that the earnings. First mortgage bonds roremain unpaid by
X g y t o ¿-?T0-miT1ie capital stock outstanding ou the whole road is d^rSae^
the sinking fund are replaced by 5 per cent bonds issued.
$-7,061,544. The 1st mort. covers 256 miles of old road and 1,500,000
Co. has a land grant, and sold in 1885 17,093 acres, for $142,982.
acres of land. The proceeds of land sales are used to retire the bonds,
JAm
assets were
and also a sinking fund of 1 per cent, but it is optional with bond $133,266 bills receivable,1> 1S86, were 432,828 acres. TheEarnings for
and cash with cashier, $28,268.
holders to surrender their bonds, if drawn. Of the second mortgage three years past on main line, and income account, were as follow s:
bonds due 1931, the company holds $355,000; and of the second
E \RNING3 AND INCOME ACCOUNT.
mortgage due 190o, it holds $365,000.
In June, 1881, a large
i
1883.
1884.
1885.
interest in the stock was bought by Southern Pacific parties. The „
Gross earnings............................... $2,361,605
mortgages on the Mexican Pacific extension cover 636 miles of road Operating expenses and ta x es.... 1,721,507 $2,116,299 $1,946,143
1,502,579
1,342,423
&om San Antonio to El Paso, and the Eagle Pass branch, 35 miles—
«71 m all. T. W. Pierce. President, Boston. The land grant is sixteen
Net earnings......................... $340,098
$613,720
$603,715
sections (10,240 acres) per mile.
Disbursements—
.
months from Jan. 1 to Feb 28, gross earnings were $403,166 Interest on debt............................ $449,995
$387,068 ?
in 1886, against $448,161 in 1885; net, $91,042, against $164,057 in Interest on Penn. Co. n o t e ..........
25,902
21,586 5 $714,100
l o o ).
Loss on auxil’y roads, advances,
Earnings and expenses for three years were:
interest, &o., &c..........................
57,173
*153,948
30,313
- “
, .
1883.
1884.
1885.
746
936
Miles operated.......................
$567,602
$744,413
Gross earnings.................... $3,686,767
$2,902,591
$3,236641 B a la Total disbursements............ $533,070 sur.$46,118 def $140,693
n ce......................................sur$ 07,028
Operating expenses........
2,270,046
2,035,816
1,691,245
* Includes in 1884 $89,075 for interest upon debt to the guarantor
for coupons of years previous to 1884.
Net earnings................. $1,416,721
$866,775
$1,545,396 -(V . 40, p. 5 3 9 ; Y. 42, p. 365.)
Rental received................
Green B a y W in o n a & St. P a u l.—Owns from Green Bay. Wis.,
to Marshland, Wis., 209 miles; branches, 10 miles; leased—Plover
Total............................ $1,416,721
$866,765
$.
to Steven’s Pt., 6 miles; total, 225 miles. This was a reorganization in
Interest paid.....................
3,224,995
1,276,861
1881 of the Green Bay & Minnesota, which company made default and
the road was sold March 12, 1881. Preferred stock is $2,000,000, and
Baianee....................... Sur. $191.726 Def. « r w o
our
$410,086
Sur.
entitled to 7 per cent when earned, and common stock $8,000,000,
74^;' V°42' I W f ) 305’ 394’ 741’* Vl 41>p- 23> 134’ 190>2 1 5 , 216,* 357, both stocks $100 shares. On Feb, 1,1885, default was made on the first
®'a lv ®*ton H o u s to n & H en d erson o f 1 8 8 2 .—Owns from Gal- mortgage interest, and the Farmers’ Loan & Trust Co., of New York,
ISSS“ ?
H
,oust« u- Te™ s’ 50 miles. The road was opened in trustee of tlie mortgage, took possession. For the year ending June 30,
i 85M a A 8
n ^ m i0reT
cl?8U e
i oo®ecA 1- 1871> and reorganized as theG. 1885, gross earnings were $103,190, against $401,118 in 1884; net,
irnri
188,°> the company defaulted on its interest $33,043, against $104,890; taxes and interest, 1884-85, $102,586,
ana the road was sold in foreclosure Aug. 1, 1882, for $460 000 and against $32,458 in 1884. Samuel Sloan, President, New York. (V. 40.
purchased in the interest of Jay Gould and Russell Sage. The bond- p. 181, 385; Y. 41, p. 189, 355; V. 42, p. 60.)
agreement with the purchasers, received new 5 per cent
G u lf Colorado & Santa F e .—(See Map)—Mileage was as follows
their old bonds, and the road is leased for 99 years, to the Aug., 1885: Galveston to Goldthwaite, 320 m iles; Fort Worth Division
& G ^ a t northern Railroad Company and bonds guaran- Temple to Fort Worth, 128; Northeastern Division, Cleburne to Dal
S® othat company. Stock of the new company is $1,000,000. In las, 54; Eastern Division, Somerville to International Road, 74 m iles;
—(V Io0f5 0 6 ? ing8 W6re $ 289,118; expenses. $317,979, deficit, $28,861. Houston Division, Alvin to Houston, 24 miles; total 600 miles.
Road opened late in 1878 (63 miles), and sold and reorganized
Sayre.—Owns from Geneva, N. Y., to Sayre April 15, 1879. Formally opened under the new regime August,
Pa., 75 miles; branch, Ithaca, N. Y., to Cayuga, N. Y. 38 miles’ 1880, and has been rapidly extended. Stock, $4,560,000. In 1884 the
H ayts Corners branch (leased), 3 miles; total operated, 116 milel: fiscal year was changed from July 31 to end'with Deo. 31, and in the
ij’ 18Z6> a8 successor of the Geneva Ithaca & report in Chronicle, V. 40, p. 68 3, the income account is for the 17
A ta fu„ Railroad (sold in foreclosure September 2, 1876), which had months. In July, 1885, the old second mortgage at $13,000 per mile
s
been formed by consolidation of the Geneva & Ithaca and Ithaca & was retired and canceled and the new second mortg. at $8,000 per mile
R R e 37 miles !
25’ 1874‘
198,°ahsorbed the Cayuga & South. was issued. In the table below the earnings are for the 17 months end
37 miles. The common stock is $1,275,000; preferred, $400,000 ing Dec. 31,1884, but previously for1 the years ending July 31.
1 QQ1
t fio X
1881. ' 1O D8D2 / *
8
*
1 8 8 §/ *
1884.
Gross earnings year ending Bept. 30, 1883, $519,246; net $72 354 •
taterest, $60,468. Surplus $11,886. In 1881-84, cross $430’<138 •
(17 tnos.)
226
430
546
536
deficit, $152,120; interest payments, $66,330; total deficit,’$218,449. ’ Miles at end of y e a r Gross earnings..........$777,434
$1,251,073 $2,068,957 $2,781,208
r w £ o r ¥ ia p a c i f i c . —-Atlanta, Ga., to Coalburg, Ala., 177 miles' Cane Net earnings............. $245,940
$414,093
$740,494
$411,547
£ i ^ n i ^ laY , to Columbus, Miss., 75 miles; Greenville, Miss., to JohnDisbursements—
(N- G.), 52 miles; other branches. 13 miles; in opera- Rentals....................... $17,417
$13,458
$ ............
$ ........
S ??
3,9’ 1885, 317 miles. Between the western terminus of First Interest on debt ....... 146,033
291,900
430,001
563,666
^ I * ^ C f 1 urgiland*
/ L
ea8te™ termiaus of Second Division at Cane Creek
p „a P
„
41 miles to be built as soon as practicable. The Georgia
Total disbursem’nts
$305,358
$430,001 $563,666
has been built by Richmond & Danville Extension Com- Balance, surplus........ $163,450
$32,490
$108,735
$310,493Def.$152,120
°9 ?rated hi
R & D. system. The capital stock is
earnings year ending Sept. 30,1885, were $666,662 - (V . 40, p. 270, 6 8 3 , 763; V. 41, p. 24, 50, 77, 155, 306, 473, 556,721;
V. 42, p 124,387,393, 430,487.)
*
’
*
noim epAft82™ *5, The,re were $310,741 car trust notes, but carrying
H a n n ib a l & St. J o s e p h .—Owns from Hannibal, Mo., to St. Joseph,
no interest. The annual report was in V. 42, p. 154. (V. 42, p. 1 5 4 )
Mo., 206 miles; branches—Cameron to Kansas City, 53 miles; St. Joseph
R a ilro a d & B a n k in g Co.—Augusta, Ga., to Atlanta.
Ga., 171 miles; branches to Washington and Athens, 60 miles; Warren- to Atchison, Kans.. 19miles; Palmyra to Quincy, HI., 13 miles; total
operated, 292 miles.
A p r il , 1886.]
RAILROAD
STOCKS
AND
BONDS.
GULF, COLORADO
SANTA FE RAILWAY
PROPOSED EXTENSIONS
AND CONNECTIONS
1886.
M
Guay mas
48
RAILROAD
STOCKS AND BONDS.
[V ol . X L II.
Subscribers w i l l confer a great fa v o r by g iv in g Im m ed iate n otice o f a n y error discovered In these T a b les.
DESCRIPTION
INTEREST
Bonds—Princi
Miles Date Size, or
pal, When Due.
Amount
For explanation of column headings, &c., see notes of
of
Par
Rate peri When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable
Whom.
Dividend.
Eannsb. Portent’th Mt. Joy A Dane.—Stock..............
54
$50 $1,182,550
1st ¡nor., registered (extended 30 years in 1883)
54 1853 500 &c.
700,000
Harrisburg A Potomac—1st mortgage, coupon__
38 1874 100 &c.
507,200
Hartford A Connecticut Western—Stock..
....
108
100
2,540,300
1st mortgage...............................................
104 1883
1,000
510,000
Housatomc—Stock.................. .....................................
127
100
820,000
Preferred stock..................
127
100
1,180,000
2d mort. bonds of 1869............' ‘ ........................
.... 1869 500 &e.
300,000
Bonds..................................................
....
76.500
Consolidated mort., reg.......... .* !!!!!!!!.* !!!!!!!!!!
.... 188*0 50*0* &c.
300,000
Rolling stock certificates.................. " ...................
....
.... ....
200,000
Roust. Hast A West Texas.—1st M., gld ($7,000 p.m.} 192 1878
1,000
1,344,000
2d mort., land grant ($5,000 per m ile)........ ....
192 1883
1,000
(1)
Houston A Texas Cent.—1st M., (main) gold, l.gr.,s.f
345 1866
1,000
6,154,000
1st mort., 1. gr., West div. (Hempstead to Austin) 119 1870
1,000
2,271,000
1st M.,gold,Waco&N’ west (Bremond to R o s s )___
1,000
58 1873
1,140,000
Consol, mort., land grant, Main and Western Div. 464 1872
1,000
4,046,000
Consol, mort., land grant, Waco & Northwest.......
1,000
58 1875
Nil.
Gen. mort., gold (for $18,500,000)..........................
522 1681
1,000
4,326,000
Huntingdon A Broad Top—1st mort)., gold...............
64 1854
500
416,000
2d mortgage, gold..................................................."
64 1857
500
367,500
3d mortgage consolidated....................! ! ! . ! ! ! . ! !
64 1865
1,000
1.497,000
Scrip for interest 1st and 2d mortgages.......... ;
....
....
118,895
Illinois Central—Stock.........................................." " j
Too 29,000,000
< ....
Leased line 4 per cent stock, guar. . .
.......... C (.,928 1 ---100 10,000,000
Mortgage bonds, sterling.......................
706 1875
£200
2,500,000
Sterling bonds, (sinking fund £20,000 yearly}*!*’ 706 1874
£200
3,950,000
Mortgage, sterling..................................................... 706 1875
£200
1,000,000
Mortgage bonds, gold, coup., may be reg..........!!!
706 1«86
1,000
1,500,000
do
do coup., may be reg............... 706 1886
1,001)
2,500,000
3*a
4
7
1*3
5
J. & J.
Phila., Co.’s Office,
J. & J.
do
do
J. & J. Phila., Third Nat. Bk.
*3*
6
4
5
5
7 g.
6 S
7 g.
7 g.
7 g.
8 *
8
6 g.
7 g.
7 g.
5 *
7
4
2
6 g.
5 I5 g.
4 g.
31 g.
2
Bridgeport & Boston.
J. & J.
Bridgeport, Office,
do
do
A. & O.
do
do
J. & J.
M. & N.
J. & J.
J. & J.
I. & J.
J. & J.
A. & O.
M. & N.
A. & O.
A. & O.
F. & A.
A. & O.
J. & D.
M. & S.
J. & J.
A. & O.
A. < O.
&
J. & D.
J. & ,T
.
J. & J.
Hartford.
Jam 11,1886
July 1, 1913
Jan. 1, 1904
Dec. 1, 1882
July 1, 1903
Jan. 9, 1886
July 1, 1889
1910
April 1, 1910
1889
N. Y., Union Trust Co.
1898
do
do
Jan. 1, 1913
Last paid July, 1894 July 1, 1891
Last paid July, 1884 July 1, 1891
Last paid July, 1884
July 1. 1901
Last paid Oct., 1884
Oct. 1, 1913
May 1, 1912
Last paid Oct., 1884 April 1, 1925
Philadelphia, Office, Sept. 30,1890
do
do
Feb. 1. 1895
do
do
April 1, 1895
do
do
Dec. 1, 1889
N. Y., 214 Broadway, Mch. 1, 1886
do
do
Jan. 1, 1886
London.
A p r ili. 1895
London,Morton R.& Co. April 1, 1903
do
do
Dec. 1, 1905
June 1, 1951
do
do
Jan. 1, 1951
iuruym ijau; Yvae euaruereu jueo. jlo, i 8 4 / , anaroaacompietea to atIn February, 1885, B.G. Clark and Chas. Dillingham were appointed
Joseph in Feb., 1859. The branches were built under different organiza
Development Co. against the railroad,
tions. The Bridge across the Missouri River at Kansas City is owned. receivers m a suitof the Southernissued. In January, 1886, foreclosure
and receivers certificates were
Ih e company had a Congressional land grant and received $3,000,000 proceedings were begun under the first mortgage. See V 42 p 125
i o o ? 1? 8
1
State of Missouri, which loan was repaid in cash in June,
1881, but litigation followed as to the interest payable on the State The gross earnings from Jan. 1 to Feb. 28 were $410.865‘in 1886.
H1
deficit under
bonds, the State claiming interest should be paid to it at 6 per cent till 2.£aIIi8t. ® 1886, agamst $42,280 in 1885. betterments, renewals, &o.,
$7,0 a5 in
maturity. The U. S. Circuit Court decided the further sum of $476,049
The following statement of gross earnings, operating expenses, amounts
to be due the State, and the case is yet pending on appeal. The land charged ar®1 cwals and betterments, and gross interest charges, in each
1
grant has been practically closed out.
oi the past
that, excluding betterments, renewals and
In September, 1882, a syndicate, including Jay Gould, Russell Sage, interest on four years, shows income was more than sufficient to meet
floating debt, the
and others, bought about 90,000 shares oi common stock from John the first mortgage interest.
R. Duff, of Boston, and in May, 1883, this common stock and a large
EARNINGS, EXPENSES AND CHARGES PROM 1882 TO 1885 INCLUSIVE.
amount of preferred were sold to the C. B. & Q. RR. Co. at 45 for the
common and par for the preferred, payable in C. B. & Q. 5 per cent bonds ~
.
1882.
1883.
1884.
1885.
atpar.
Gross earnings............$3,156,517 $3,251,875 $2,547,847 $2,739,915
Expenses—
Preferred stock has prior right to a non-cumulative dividend oi 7 per
cent; then common to 7 ; then both share. Fiscal year ends Dec. 31. Operat’g, incl’g ta xes.$1,748,904 $1,743,771 $1,578,190 $2,052,377
Annual election occurs in November.
The income aocounts have E xtraoi din y rep’s, &o 459,500
687,392
549,699
77,192
8arPlU for 1884 overall charges of $445,168, a surplus of Equipment.................
8
89,737
95,398
92,221
82,989
|353,698 in 1883, and a surplus of $39,810 in 1882 after paying
Total..........................$2,298,112 $2,526,562 $2,220,110 $2,212,559
240 270 ) ° r a bIa per oen<! ^ ^ e n d on preferred stock. (V. 40, p. 182,
Int. on floating debt..
$53,858
$62,394
$86,130
$22,418
„ H a r r is b u r g P o rtsm o u th M o u n t J o y Sc Lancaster.—Owns Int.&prin. State debt.
41,524
40,697
39,888
45,698
from Dillerville, Pa., to Harrisburg, Pa., 36 miles; branch, Mid
dletown, Pa., to Columbia, Pa., 18 miles; total operated, 54 miles. Surplus income.......... $763,022
$622,220
$201,718
$459,238
The property was leased to the Pennsylvania Railroad Co. for 999 Int. on bonded debt p’d 1,193,200 1,193,200
1,193,200
years from Jan. 1, 1861, the rental being 7 per cent on the stock and
interest on the bonds. Operated as a part of main line of Penn. RR. Def. onint.forbond.d’t $430,178
$570,979
$991,481
H a r r isb u r g Sc P o to m a c .—Owns from Bowmansdale to Shippens —(V. 40, p. 43, 61, 92, 120, 151, 240, 269, 337, 394. 424, 454, 481, 597.
burg, Pa., 32 miles; branch to mines,
miles; total operated, 37^ 652; Y. 41, p. 24, 76, 77, 155, 160, 189, 190, 215, 330, 392, 527, 720;
’
miles. Extensions projected from Bowmansdale to Harrisburg. Bonds Y. 42, p. 60,124, 4 6 1 , 487.)
authorized, $1,800,000. Stock $379,165. Thomas W. Alii, President,
H u n tin g d o n Sc B ro a d T o p .—Owns from Huntingdon, Pa., to
Boiling Springs, Pa.
Mt. Dallas, Pa., 45 miles; branenes—Shoup’s Run, 9 miles; Six Mile
1.if iVrti o r A <k C onnecticut W e ste rn .—Hartford, Conn., to Rhine- Run, 4 miles; and Sandy Run, 3 miles; Long’s Run Br., 3 miles ;
Oliff, N. Y., 108. b oreclosure suit was begun in 1880 against the former total operated, 64 miles. This road was opened in July, 1856. The capi
Conn. West., and the State Treasurer took possession. On May 25,1881, tal stock is $1,368,950 common and $1,985,250 7 per cent pref. stock.
bondholders reorganized, and stock in new company issued for bonds. In February, 1884, a dividend of 75 cents per share was paid on pref.
In March, 1882, the purchase of the Rhinebeck < Connecticut Railroad stock. Earnings in 1883, $424,494; net, $196,651. In 1884. earn
&
in the stock of this company. Gross 9amiugs ings, $333,560 ; net, $175,724. In 1885 gross earnings $371,001; net,
.^307,924; deficit, $9,811.
Gross in 1883-84, $333,826; $191,709. (V. 40, p. 182.)
deficit, $10,597; interest, dividends, &o., $42,416; total deficit, $52,993.
I llin o is C entral.—( See Map.)—Line of R oad—The Illinois Central
Co. operates a system embracing 2,066 miles of road. Main line—
H o u s a t o n lc .- F r o m Bridgeport. Conn., to State Line, Mass., 74 Chicago to Cairo, 365miles; Dunleith to'Centralia, 341 miles. Branches
miles ¡Brookfield June, to Danbury, 6 miles; leased-Berkshire Railroad, —Otto to Colfax, 111., 60 miles; Buckingham to Tracy, 111., 10 m iles;
’ W est«tochbridge Railroad, 3 miles; Stockbridge & Pitts Kempton Junction to Kankakee Junction, 111., 42 miles; Colfax to
field RR., 22 miles; total, 127 miles. The preferred 8 per cent stock was Bloomington, 20 miles; total 132 miles. Southern Division—New
i
pay for toying the road with heavy iron. There are Orleans- La., to Cairo, 111., 548 miles; branches: Kosciusko Junction,
also $150,000 6 per cent equipment bonds due Feb. 1,1888, and $70 000 Miss.,
Miss., 12
5 per cent Danbury branch bonds due October 1, 1912. Operations miles. to Aberdeen, Miss., 108 miles; Durant to Lexington, Falls, 143
Total owned, 1,664 miles. Leased—Dubuque to Iowa
and earnings for three years past were as follow s:
miles; Iowa Falls to Sioux City, 183 miles; Waterloo to Minnesota
Passenger Freight (ton) _ Gross
Net Div. % State Line, 76 miles. Total leased, 402 miles. Total operated Dec. 31,
Years.
Miles.
Mileage.
Mileage.
1885, 2,066 miles. On Jan. 1, 1883, took formal possession of the
Earnings.Earnings. Pref.
1882- 83 .. 127
8,794,731
15,795,565 $735,492 $252,251
8 Chic. St. L. & N. O. RR., now known as “ Southern Division,”
1883- 84 .. 127
9,265,561 14,875,414
676,759
245,456
8
Organization, L eases, &c.—This company was chartered in Decem
1884- 85 .. 127
8,835,567
14,890,424
645,859
249,632
5 ber, 1850, and organized in March, 1851, and the whole road, 707
.
E a s t S W e s t T e x a s .—Owns from Houston, Tex., miles, opened September, 1856. The Illinois Central was one of the
c
to Sabine River at Logansport, 192 miles, and connects there with a line first, and has been one of the most successful, of the land grant roads.
to Shreveport, La. (Narrow guage, 3 feet.) The company had a Texas The lands granted were upon the condition that the company
land grant of 10,240 acres for each mile constructed and equipped. should pay to the State 7 per cent of gross earnings yearly in lieu of
Bonds issued to th eextent of $7,000 per mile first mortgage ana $5,000 taxes. The Springfield 1>ivision was acquired by a lease of the Chicago
per mile second mort {age, but the 2d mortgage bonds were not sold for & Springfield (Gilman Clinton & Springfield foreclosed) for 50 years,
some time and were probably used as collateral for the debt due Mr but road is practically owned. The leases of Dubuque & Sioux City RR.
t I I 90,000Bt? ck authorized, $10,000,000; issued, and Iowa Falls & Sioux City are on different terms. (See the names of
1883a< 088 earnings. $301,946; net, $185,612. In July, those companies.) The company acquired a controlling interest in the
?r.
1885, M. G. Howe, Assistant Supermtendent of the Houston & Texas Chicago St. Louis & New Orleans Railroad, to which it made large
Central, was appointed receiver of this company. (Y. 41, p. 50,215, advances From July 1,1882, leased the Chicago St. Louis & New
473 f V» 42; p. 203) 387.)
* Orleans for 400 years, at 4 per cent per annum on stock, and issued the
above 4 per cent leased line stock, in exchange for the Chic. St. L. <
&
H o u s t o n Sc T ex a s C entral. (See map o f Southern P cific)—Owns N. O. stock. Fiscal year ends Deo. 31. Annual election held in March.
a
from Houston, le x ., to Red River City, Tex., 345 miles; branches
Stock and B onds.—The Illinois Cent, stock has been held largely in
—Hempstead, Tex., to Austin, Tex., 118 miles; Bremond, Tex., to Europe. The 4 and 3 H per cent bonds issued in 1885 and 1886 are under
Ross, Tex., 57 miles; total operated, 520 miles. Texas Central RR.
line mortgage of 1874.
this company was the first to
completed from Ross to Albany, 177 miles. The company has a land the old main par a 3Lj per cent bond. and the Chic. St. L & N. O. the lessee
grant from the State of Texas of 10,240 acres per mile, amount negotiate atthe principal and interest On all the outstanding bonds prior
guarantees
of
ing to about 5,130,720 acres; but the lands are not on the line to the 5 per cent bonds, and, by an indorsement on the latter bonds,
o f the road. Mr. Morgan, of the Louisiana Steamship Line, bought a guarantees the payment of the interest on the same until the principal
controlling interest in the stock, and in February, 1883, the Southern is paid. Of the first mortgage bonds, $541,000 are a prior lien on
Pacific party purchased this interest ($3,985,500 of the stock) with that portion of the road in Tennessee.
their purchase of the Morgan property. Total stock is $7,726,900 The
Dividends
(prior to
have been: in
general mortgage of 1881 for $18,500,000 is made to the Farmers’ Loan 10 per cent; paid since 1870 1873, 10;current year) in 1875, 8 ; in 1871,
m
1876,
6 Trust Co. as trustee, which company holds $1.500,000 Income and 8; in 1877, 4 ; 1872, 10; in 1879. 6 ; in 1874, 8 ;; in 1881, 7 ; in 1882,
in 1878, 6; in
in 1880, 6
Indemnity bonds and $1,149,000 consol, mortgage bonds as securitv.
7;
8, and 17 per cent
L. & N.
The coupons due January 1, 1885, on first mort. bonds were not paid for in 1883,line certificates; inin Chic. St. in 1885,O. stock, exchangeable
leased
1884,10;
8. Prices of the
b y the Co., but were partly purchased by the Southern Development Co. yearly since 1870 have been: in 1871,132®139Lj; in 1872,119®stock
140;
The 1st mort. is a first lien on the main line at the rate of $20,000 a mile, in 1873, 90 ®1261 ; in 1874, 90®108nj; in 1875, S S ^ l O e ^ ; in 1876,
s
covering 345 miles of road; it is also a first Hen on ten sections of land 6078®103%; in 1877, 401
a®79; in 1878, 72%®87; in 1879, 791i®100%;
for each mile, or 2,208,000 acres. The second mortgage at 8 per cent, in 1880,
1273s; in
18 8 2,127%®1501 ;
a
is a second lien on 463 miles of road and also a first lien on six sections 1883,124 ®148; in 1884, 1881, 124®146ia; in L19«fl®140; in 1886, in
110®140; in 1885,
to
o f land for each mile of road, being 1,777,920 acres in all.
April 16, 138®1431
2.
A pril, 1886.]
BAILKOAD STOCKS AND BONDS,
49
5 0
K A IL itO A D
STO CK S
AJNTD B O K D S.
[V o l . X L I I .
Subscribers w ill confer a great favor bv «■Ivin*? ImmedlntA nAti»»
~
~ ------------------------------------i________________ "
r
lfnl»ea ia te notice o f any error discovered in these Tables.
DESCRIPTION.
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size or
Amount
pal,Wben Due.
of
of
par
on first page of tables.
Outstanding Rate per When Where Payable, and bv S locks—Last
Road. Bonds Value.
Cent. Pay’ble
Whom.
Dividend.
Illinois Central— Continued)—
(
Bonds, coup , mortgage on Cb. & Sp. RR
Bonds, reg., mortgage on Middle D iv.. . . »
Cine.St.Louis & N.O., 1st M. (N. O.J.& G.’ n ) " "
do
do
2d M.
do
do
do
ls tm o r t....................
do
do
2d mort..............
do
do cons.M., gld. (for $18,000,000)
Illinois Midland—1st mortgage, gold
Indiana Bloomington d West.—Stock..............
k
1st mort., preferred, coup, or reg___! ’.’.*.'!!!
1st mortgage, coup., may be reg.......
Income bonds, reg., convertible___
Consol, income bonds for $6,000,000...'...!’
2d mortgage, coupon or reg....................
1st mortgage, gold, Eastern Division! ! ! ! ! ! '
Sinking fund debentures..................................
Indianapolis Decatur < Springfield—1st’mort!,’ gold
£
2d mortgage, gold............................................. f
Indiana Illinois & Iowa—Bonds...... ."!!!."!.......... ! ”
2d mortgage...................................... ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! !
Indianapolis <1 St Louis—1st mort., in 3 series.......
Mort for $2,000,000, gold, (end. by C. C. C. & I.)’
Indianapolis & Vincennes—1st mortgage, guar
2d mortgage, guaranteed................................."*" *
Iowa Falls < Sioux City—Stock.............
£
1st mortgage. April 1, ’69..........!."."..................
Ithaca Auburn < West.—1st mort. (for $500.000)
é
2d mortgage, (income for 3 years)...
I ll
131
206
224
567
567
567
147
696
202
202
202
342
202
140
1877
1881
1856
1860
1877
1877
1881
1875
$ 1,000
1,000
1,000
1,000
1,000
1,000
1,000
Too
1879 100 «fee,
1879 500 «fee.
1879 100 &c.
1,000
1881
1879 500 «fee.
1881
1,000
.... 1883 1,000
153 1876
1,000
153 1876
1,000
110 1882
1,000
110 1883
500
72 1869
1,000
72 1882
1,000
117 1867 500 «fee.
117 1870
1,000
184
100
184 1869 500 «fee.
1876 100 «fee.
38^
38*2 1877 100 «fee.
th® road drained a rich territory, of which it
on^ outlet to Chicago. But the building of numerous east and
west lines crossing its road cut into its business severely. The company,
to extend its business, acquired the line from Cairo to New Orleans
and invested largely in improving the property. Its operations
are now included in tne 111. Cent. The 111. Central owned $9 992 700
°S which $4.422,700 were piddled H n s t t h e
leased line 4 per cent stock, and the balance of $5,570,00«) was owned
absolutely by the IllinoisCentral, and in June, 1883, a distribution of
W J B * S ckV i 1 tllls sr,ock wa®.made to Illinois Central stockholders.
11
For 1885 the annual report in V. 42, p. 303, 306, showed that the
surplus over all charges (including construction and equipm’t accounts)
and 8 per cent dividends was $50. The profits of the whole line as
against the increased liabilities, are seen in the figures below •
$1,600,000
968.000
2.656.000
1.483.000
1.398.000
80,000
11,826,000
4.175.000
10,000,800
6
5
8
8
7
6
5 g.
7 «.
J.
P.
J.
A.
M.
|J.
J.
J.
< J. N. Y., 214 Broadway,
fe
< A.
fe
do
do
< J.
&
do
do
< O.
fe
do
do
< N.
fe
do
do
< D.
fe
do
de
< D.
fe
do
do
< J. Last paid July, 1875.
fe
1, 000,000
"7*
J. & "j. N.Y., Corbin Bank’g Co
3.500.000 4 to 6 A. < O.
fe
do
do
72,300
6
J. < J.
fc
do
do
4.688.000
6
I. «fc J.
do
do
1.500.000
4 to 6 A. < O.
fc
do
do
3.000.
000
J. < D.
fe
do
do
500.000
F. & A.
do
do
1.800.000
7 g. A. < O. Oct.’85 ^cashife scrip.
fc
2.778.000
7 g. J. < J. l% p d . on Jan.’82,coup.
fe
600.000
6
M. < N. New York Agency,
fe
140.000
6
M. < N.
&
do
do
2.000.
000 7
Various N. Y., Union Trust Co.
500.000
&
6 g. M. < N. IN . Y ..U . S. TiustCo.
1.700.000
7
F. < A. N. Y., Farm. L. < T. Co.
fc
fe
1.450.000
6
M. < N.
fe
do
do
4.600.000
Q. —M.
1%
Boston, at Office.
2.800.000
7
A. & O. N. Y., Nat. Park Bank.
377.000
7
J. < D. N.Y., Hanover Nat. Bk.
fe
498,090
7
J. < J.
&
do
do
Jan. 1. 1898
Aug. 1,1921
July 1, 1886
Oct. 1, 1890
Nov. 1, 1897
Deo. 1, 1907
June 15,1951
Jan. 1, 1905
Jan. 1, 1900
April 1, 1909
April 1, 1919
July 1, 1921
April 1, 1909
June 1, 1921
1903
July 1, 1906
July 1,1906
1887
1903
July 1, 1919
Nov. 1, 1912
Feb. 1, 1908
May 1, 1900
Mar. 1, 1886
Oct. 1. 1917
Deo., 1906
Jan. 1, 1907
INCOME ACCOUNT.
Receipts—
Net earnings.......
DisbursementsRentals paid
Interest on debt.
Miscellaneous_
_
1881
691,192
$
253,276
196,119
30,306
1882.
1883.
888,653
1,036,519
575,770
327,738
28,456
569,164
433,375
20,752
Total disbursements...............
479,701
931,964 1,023,291
Balance....................... ............. . 8ur. 211,491 def 43,311 sur. 13,228
—(V. 40, p. 151, 304, 363, 625; V. 4 i, p. 585; V. 42, p. 463, 479.)
r, n d la n a p o lls D e c a t u r dc S p r in g fie ld « —Owns from Decatur,
nnie,8- This company is successor to the
INCOME ACCOUNT.
Indiana < 111. Cent. RR, sold in foreclosure April 26,1875. In Deo
fe
1881, was leased to Ind. Bloom. < W. for 50 years, at 30 per cent of gross
&
1883.
1884.
J885.
Road operated.
earnings, but with a guarantee of $200,000 per year. In March, 1885.
1,928
2,066
2,066
this lease was relinquished and Mr. Hammond, the President, was
Receipts—
$
$
$
appointed receiver. The first-mortgage bondholders funded one-half of
13,064,743 12,190,833 12,621,264 ^ o u p o n e d u e A p r i l l a n d Oct. 1, 1885, in five years’ scrip, the other
6,629,472
6,062,321
5,994,f3> half being paid in cash. Foreclosure is to be made under this 2d mort.
Interest, «fee...
298,009
188,967
270,627 r w s! cioK*® be assessed $2 50 per share. (See plan in Supplement o f
Miscellaneous.
m editorial article.) Common stock is $500,000. (V. 40, p.
202,226
121,206
65,966 no o io
92. 363, 424, 716, 763; V. 41, p. 133, 392.)
v
7,129,707
6,372,494
6,331,228
In d ia n a I llin o is «fc I o w a .—Completed and in operation from
Disbursements—
Streator 111., to N. Judson, Ind.. 110 miles. Stock, $2,079,900. F. M.
Rentals, incl. interest on bonds of
Drake, President, CentrevUle, Iowa.
leased lines................ .................
1,891,538
1,787,316
1,901,038
Interest on Illinois Central debt *
In d ia n a p o lis & St. L o u is.—Owns from Indianapolis to Terre
538,750
546,900
544,400
Dividends on 111. Central stock <
fc
H?mte, Ind., 72 miles; leased line, St. L. Al. < T. H. and branches,
fc
3,300,000
.
2,720,000 2,720.000 a93« ^ e s . total operated, 265 miles. The old lease of the St. Louis
Taxes.......... .................................
559,980
545,269
556,074 A. «fc i . H. was guaranteed by three other companies, and suit has been
Construction a ccou n ts.......... !!
632,529
219,943
518,859
dn g 8,8 i o
t
reDi a™ Tlle company was formerly controlled by
Additional equipment account !
the Pennsylvania and Cleveland Columbus Cin. < Hid. companies,
fe
250,000
Miscellaneous....................
50,000
165,138
60,807 who jointly owned the stock of $600,000. Interest had not been
S
oS°?DoiQ!i!tsage ,,and equipment bonds since July, 1878,
<
6,972,797
6,234,566
6,331,178 and on July 28,1882, the road was sold in foreclosure for $1,396,000
(subject to 1st mort.) and bought for Clev. Col. Cin. < Ind. Co. and a
fc
Balance, surplus.
156,910
137,928
50 new company organized September, 1882, with J. H. Devereux as
J6, 337, 716; V. 41, p. 585, 612 ; V. President. A new lease was made of tlie St. Louis Alton & Terre Hauto
42, p. 3 0 3 , 3 0 6 , 338, 339.)
by which this company and the Cleveland Columbus Cincinnati & In
are
the rent of
per
as a
Terre Haute, Ind., to Peoria, dianapolis the jointly liable for bonds series$450,000J. < yearseries minimum- Of
first mortgage
“ A ” are
fe J.;
“ B,”
inha Uo3a ™Ue8’
which 148 miles are owned and 28 miles leased
^ « w a s a consohdation Nov. 4,1874, of the Peoria Atlanta < Decatur, $750 006 of them
fe
& N,; and tlle
c - 0. < I. RR. guarantee»
&
A . De«?tur an<^ Taris < Terre Haute. Receiver appointed Sept.
fe
been
large deficit
a n i l There were prior mortgages on the roads forming this con- There hasr®ntal; aNet earmugs on the company’s operations after dein 1885 were $312,730; rental paid.
in Jun l 8 8 i PaTy’ i » ^ d ° tiee oi sale in foreclosure was Jiven 1^ 0,0 0 0 ; interest on bonds, $170,000; miscellaneous, $193,321; total!
D
n
ai
1“ iqoo ’oo 8 5 ‘ In 1.883-84, gross receipts, $249,174; net, $11,537
loss to lessee, $500,691. The road
In 1882-83 gross earnings were * 2 n .1 ftfi« net, $278 Stock 2 '
>n
T „
T
$211,186 i
$2,000,000. $813,321; net its owners as a route to St. Louis. is only incidentally o f
advantage to
D. H. Conklin, Receiver. (V. 41, p. 23, 241.)
Operations and earnings for five years past w ere:
Indn d t o 1 pekhi0 'tT 11^ 01^ ^ W e s t erT *-O w ns from Indianapolis,
“
i
n
Passengei Freight (ton)
Gross
Net
Miles. Mileage.
rìiifo 1% hfn.!?’ t '’’ ‘jP'i, mile8> and Indianapolis to Springfield, Years.
Mileage.
Earnings. Earnings.
Ohio, 142 miles. Leased, Pekin to Peoria. 9 miles; Springfield to San 1881
..... 265 19.479,278 196,029,304 $2,048,651 $187,673
dusky, O., 130 miles; Cary, O., to Findlay, O., 16 miles; Springfield to 1882
..... 265 21,008,318 202,985,772
2,086,776 d f 111,608
Columbus 45 miles. Total operated, 543 miles. This was a cofsolida® 1883
...
265 20,96.<,061 196,667,532
2,131,621
172,419
tion m March, 1881, of the Ind. B. < W. andtheO him Ind * Pacific 1884
&
..... 265 22,494,880 207,672,278
1,921,726
189,904
TheCmcinnati Sandusky < Cleveland and branch was leased in A n ri? ' 1885
fe
..... 265 20,596,678 216,121,867
1,855,903
312,730cinnati & Springfield In April, 1885,’ thè lease ofthe^Indianapolis'
In d la n a p o lls & V in cen n es. -Owns from Indianapolis, Ind.,
Decatur & Springfield road was given up. The f o r m e r
to Vincennes, Ind., 117 miles. The Pennsylvania Company owns a
lefaulted
controlling interest in the stock and operates the road, advancing the
w Ä p n o fn te d llc^ ^ ^
road was
^ 7 8 ? P nd^he^c^mpmiy reorganize<t°ad W 8° W m foreclosure Oct. 30, deficiency to pay interest on the bonds. The capital stock is $1,402,000;
&S
______j .
the debt due to Pennsylvania Co. Dec, 31, 1885, was $1,330,008. In
^ 2 tll4 nJr
^0I1<i*t?So?tf rest was 3 per cent 1879- 1881 the net earnings were $10,260; in 1882, $19,850; in 1883, deficit.
J882, 4 per cent 1883-84, 5 per cent 1885-1887. and 6*per cent there- $11,031; in 1884, deficit, $9,570; in 1885, deficit, $5,847. Annual
T«7Q
a he tacome bonds take such interest from July 1 interest on debt, $206,000.
1879, not exceeding 6 per cent per annum, as the net earnings mav
I o w a F a lls «fc Sioux City—(See Map o f Illinois Central).—Own»
suffice to pay. $830,000 stock scrip was issued entitled to a dividend
from Iowa Falls, la., to Sioux City, la., 184 miles. This road was opened
^ p e r c e f ftl per annum, after a dividend of . 8 per cent on the comm
An
c
a?.Da“ i aft,er »„dividend o f 8. percen t
common in 1870 and is leased to the Illinois Central for 20 years from Oct 1
stoefi. After the payment of a 7 per cent dividend, the stock serin
1867, at a rental of 36 per cent of the gross earnings. The Illinois
convertible into common stock.
scrip
Central has an option of continuing the
1887 at same
idah6
suffered much from the war among the Trunk iines in This company also receives a drawbacklease after ct. on business rental.
of
to and
Ti««t«a n STtrinfftield reduced rates, and it a1 found the Indianapolis from their line over the Dub. < S. City RR., 10 per
d which 1««««
so
fc
and receives rental for 23
Decalur
account. &
i W 'u L p »
a loss o n ‘that miles of its road used by the Sioux City «fe St. Paul Co. In the year
31, 1885,
°PeratIo» s n 1884 was made, but the Ohio Commissioner’s ending March $278.500;the total rental was $268,381; receipts from
the total income was $623,214, and all ex
report for the year ending June 30 had the following:
8 sales of lands,
penses, including dividends, $531,570. The contingent fund invested
1883-84.
1884-85. is $1,400,000. Lands remaining unsold, 37,892 acres. Horace Williams.
Gross earnings.................................................. $2,901,553
$2,582,935 President, Clinton, la.
Expenses.......................................................... 1,932,993
Ith a c a A u b u rn & W e ste rn .—Owns from Freeville to Auburn.
1,914,510
N. Y., 38 miles. The New York < Oswego Midland RR., Western Exten
fc
Net earnings.............................................. $968,560
$668,425 sion, was sold in foreclosure, and this company organized Sept. 20.
Rentals p a id ......................................
1876. The stock is $975,800. On April 1, 1§83, was leased to South
559,660
ern Central of New York for the term of its charter, at a rental of 331*
B a la n c e ......................................................................
$108,765 per cent of gross earnings, with guarantee that rental shall equal 4 per
cent on first mortgage bonds. Foreclosure has been consented to by a
The a iT e ile it? rftst hrge on the mortgage bonds is $530,000.
majority of bondholders in order to change the form of bonds to conform
J-he statistics from the annual report for 1883 were in V. 38, p. 594.
to the terms of the lease.
$7je
r
A pril ,
1886.
KAILROAü STOCKS AND BONDS,
S I
Subscribers w ill confer a great favor by giv in g im m ediate notice o f any error discovered in tbese T ables.
Bonds—Princi ________________ DESCRIPTION.________________
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount
For explanation of column headings, &c., see notes of
of
Par Outstanding Rate per When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Jacksonville Southeast.—1st mortgage.......................
General mortgage......................................................
Jefferson (Pa.)—1st & 2d morts. (Hawley Branch)..
1st mortgage (Susquehanna to Carbondale)..........
Jeffersonville Madison < Indianapolis—S tock ........
&
Jeff., Mad. & Ind., 1st M. (s. f. $15,00o per year),
do
do
2d mort. ($100,000 in 1882)..
Jersey Oity & Bergen -1 s t mortgage..........................
Joliet &Northern Indiana—Istm ort, gunr. by M. C.
Junction (Philadelphia).—1st mort. (extended)___
2d mortgage..................................... .........................
Kansas Central—1st mortgage (for $3,200,000)___
Kansas City Clinton < Spring. 1st M., gold, guar...
£
Pleasant Hül & De Soto, 1st mort., gold...............
Kansas City Fort Scott < Oulf—Stock, common.......
£
Stock, preferred.........................................................
1st mortgage, land, grant, sink fund.....................
Mortgage on branches, guaranteed........................
do
do
...............................................
Equipment bonds (10 per cent retired annually)..
Kansas City Springfield <•Memphis—1st mort.........
£
Plain bonds (red’ble at will at 105 and int.), guar
Kentucky Central-Stock.................................. ..........
Covington & Lexington .mortgage..........................
Maysville Division mortgage..................................
General m ortgage....................................................
Keokuk <£Des Moines—1st M., int. guar. C. R. I. & P.
King 8 County Elevated...............................................
54
112
9
38
224
159
159
6
44
3-6
3-6
168
129
45
389
389
159
202
26
282
....
250
80
50
220
162
1880
1832
1867
1869
....
1866
1870
1873
1877
1882
1865
1881
1885
1877
$1,000
1,001
1,000
1,000
100
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
500
1879
1880
1882
1383
1883
1884
lo o ’ &c.
1855
1.000
1881
1878
1,000
100 &c.
1,000
1,000
.1,000
....
$300,000
879.000
300 „00
2,000,000
2,000,000
2,573,000
1,995,000
275,000
800,000
425,000
300.000
1,348,000
3,091,000
580,000
4,648,000
2,750,000
2,300,000
2.780,000
390,000
560,000
6,971,000
500,000
5,599,500
220,000
400,000
6,379,000
2,750,000
w
6
6
7
7
1*3
7
7
7
7
4^
6
6
5 g.
7 g.
2^2
4
7
7
5
6
6
6
1
7
7
4 to 6
5
J. & J,
J. & J.
J. & J.
J. & J.
Q.—F.
À. & 0.
J. & J.
J. & J.
J. & J.
J. & J.
A & O.
A. & O.
A. & O.
A. & O.
F. & A.
F. & A.
.1. & D.
M. & S.
F. & A.
J. & D.
M. & N.
M.
J.
J.
J.
A.
&
&
&
&
&
N. Y., Am. Ex. Nat. Bk.
do
do
Honesdale Nat. Bank.
N. Y., by Erie Railroad.
N. Y., Farm. L. & T. Co.
ao
do
do
do
N. Y.. Farm. L. & T. Co.
Phila., 233 So. 4th St
do
do
Office, 195 Broadway.
do
do
Boston, 26 Sear’s Bldg.
Boston.
do
Bost., Nat. Webster Bk.
do
do
do
do
do
do
Boston. Nat. Union Bk.
N.
Cincinnati.
D. New York, 23 Broad St.
J N. Y., Morton, B. & Co.
J.
do
do
O. N. Y.,Farm. L. & T. Co.
July 1, 1910
July 1, 1912
1887 & 1889
Jan. 1, 1889
May, 1881
Oct. 1, 1906
July 1, 1910
Jan. 1, 1903
July 10,1907
July 1. 1907
April 1, 1900
April 1, 1911
Oct. 1, 1925
1907
Feb. 15,1886
F e b .15,1886
July 1, 1908
Sept. 1, 1910
Aug. 1, 1922
Deo. 1, 1893
May 1, 1923
May 1, 1894
May, 1881
June, 1885
1906
July 1, 1911
Oct. 1, 1923
J a c k so n v ille Southeastern.—Owns from Jacksonville to Cent1882.
1883.
1884.
1885.
ralia, la., 112 miles. This was the Jacksonville Northwestern & South-1 Miles operated
389
389
389
389
eastern RR., projected from Jacksonville to Mt.Vemon,125 miles. Bonds
$
$
$
were issued at $20,000 per mile, amounting to $600,000. In 1879 the Total gross earnings.. 1,703,199
2,016,212
2,422,443
2,546,526
company was reorganized by the bondholders under this name. Stock
Receipts—
$1,000,''00. In year ending June 30, 1884, gross earnings, $153,392 ; Net earnings................
750,319
837,668
1,014,750
989,435
net, $49,409; interest paid, $22,779. W. S. Hook, Presid’t, Jackson Interest, &e..................
15,051
27,395
ville, 111.
Total income.............
765,370
837,668
1,042,145
989,435
J efferson .—Owns from Susquehanna Depot, Pa., to Carbondale, Pa.,
Disbursements—
$
$
$
$
87 miles; branch, Hawley, Pa., to Honesdale, Pa., 8 miles; total, 45 Interest on bon ds........
182,856
173,203
166,0811
miles. Leased in perpetuity to the Erie Railway for $140,000 per Leased lines interest..
162,629
184,003
annum, and now operated by the N. Y. Lake Erie & West. Capital K. C. S. & M. proport’n.
276,212 !
628,359
6,222
25,099
stock, $2,096,050. Samuel Hines. President, Scranton, Pa.
F. S. equip, bonds.......
102,661 I
359,360
359,364
475,576
............
J efferson ville M adison Sc In d ia n a p o lis.—Owns from Louis Dividends....................
3
3
5
............
ville, Ky., to Indianapolis, Ind., 110 miles; branches—Madison, Ind., to Rate paid on com .......
Do
pref....
8
8
8
............
Columbus, Ind., 46 miles; Columbus, Ind., to Shelbyville, Ind., 24 miles;
26,830
24,360
21,176
............
Jeffersonville, Ind., to New Albany, Ind., 6 miles; Shelby & Rush RR., Sinking fund...............
2,758
1,421
384
............
18 miles; Cambridge Extension, 20 miles; total operated, 224 miles. Miscellaneous.............
The road was leased to Pennsylvania Company from 1873, with a guar
Total disbursements. 740,655
767,450
1,046,213
623,305
antee of interest on bonds and 7 per cent on stock. Lease was modified
from January 1,1880, the lessees to pay over all the net earnings to Balance, surplus........
24,715
70,218 def. 4,068
............
the J. M. & I. Co. In 1881 the Penn. Company purchased $1,939,000 of -(V . 40, p. 6 2 3 ; Y. 41, p. 527; V. 42, p. 215.)
the stock. Dividends were at the rate of 7 per cent per annum till
K a n sa s City Springfield Sc M e m p h is.—This organization em
May, 1880, and reduced afterward. Operating expenses have increased
braces two corporations under the laws of Missouri and of Arkansas to
largely since 1880. Earnings for three years past were as follow s:
build a road from Springfield, Mo., to
282 miles.
Years.
Miles
Gross Earn.
Net Earn. Div. p. c- Road finished October, 1883. The KansasMemphis, Tenn., & Gulf will
City Ft. Scott
1883
............... 204
$1,426,893
$356,783
appropriate 15 per cent of gross earnings on business to or from the
1884
............... 204
1,304,111
292,004
new road to pay interest on the bonds, or retire the principal at 110.
1885 ....................... 204
1,217,088
291,166
Capital stock, $5,264,500. See first annual report in V. 40, p. 682. (V.
Jersey City Sc B ergen .—Owns from Jersey City to Bergen Point., 4 0 ,p. 304, 363, 6 8 2 ;V. 42, p. 315.)
N. J., 6 miles. In 188-1 gross earnings, $323,511; net, $104,678; in
K e n tu c k y C entral.—Owns from Covington, Ky., to Livingston,
1884. gross, $356,834; net, $98,163. Stock, $250,000. Dividends 10 Ky., 143 miles; Paris to Lexington, 19 miles; leases Paris, Ky., to Mays
per cent in 1834. C. B. Thurston, President, Jersey City.
ville, Ky., 49 miles;Richmond to Stanford, 34 miles; total operated, 250
miles, was
J olie t Sc N orthern In d ia n a .—Owns from Joliet, 111., to Lake miles. The extension from Paris to Livingston, Ky., about 70RR., which
Lex.
Station, Ind., 45 miles. Operated as part of the Michigan Central opened Sept.l, 1884. This was formerly the Covingt’ >n&was formed, and
was foreclosed in 1859. In 1875 the present company
main line. Road opened in 1854 and leased to the Mich. Cent. Above took possession May 1,1875. The Maysv. & Lex. RR. was taken Nov. 17,
issue of bonds definitely guaranteed was given as a compromise in 1876. In June, 1881, a majority of the stock was purchased by Mr. 0.
place of old 8 per cent bonds. Stock ($300,000) carries dividends of 8 P. Huntington of the Chesapeake & Ohio road. This Co. leased of the
per cent per annum.
Louisv.& Nashv.RR. its Richmond branch for 99 years from Jan l, 1883,
J u n ctio n (P h ila d e lp h ia ).—Owns from Belmont, Pa., to Gray’s for $24,000 per annum, with a right to purchase at any time for $400,000.
In Febru iry, 1884, the company needing more money, the stock was
Ferry, Pa., about 4 miles It connects the Pennsylvania, the Phila
delphia & Reading and the Philadelphia Wilmington & Baltimore rail assessed 10 per cent, and holders of $3,600,000 of the general mortg.
roads, coming into Philadelphia. Capital stock, $250,000. Net earn agreed to take 4 per cent for three years beginning July 1,1884, instead
ings in 1882, $123,919; in 1383, $130,731; in 1884, $95.865. Large divi of 6. Of this the report of Mr. C. P. Huntington, President, in Chroni
dends are paid according to receipts each year. In 1884 paid 40 per c l e , V. 38, p. 645, gave particulars. Under the arrangement, the fixed
charges for the year would be $303.990. including interest and rentals.
cent, in 1885 paid 20 per cent.
On Jan. 29, 1836, Mr. Henry Huntington was appointed receiver.
K a n sa s C entral.—Owns from Leavenworth to Miltonvale, 167
For ten months from Jan. 1 to Oct. 31, 1885, gross earnings were
miles. Sold under foreclosure of first mortgage April 14, 1879. Reor $710,392, against $773,412 in 1884; net, $223,155, against $281,187.
ganized April, 1879. Gross earnings in 1884, $283.267; deficit, $69,223; Receipts ana disbursements have been as follow s:
deficit over interest, taxes, &c , $111.159. Stock, $1,343,000. Union
INCOME ACCOUNT.
Pacific holds $1,313,400 of the stock and $1,162,000 bonds.
1882.
1883.
Receipts—
1884.
1881.
K a n s a s City C lin ton & Springfield.—Owns from Cedar June., Total gross earnings ... .$705,127
$842,052
$724,363
$922,108
Kan., to Ash Grove, Mo., 164 miles, and branch Raynor Junction to Operating expenses___ . 490,655
415,090
485,233
603,620
Pleasant Hill, Mo., 10 miles; total, 174 miles. In Jan., 1885, the Pleas
ant Hill & De So-o read, 4b miles, was purchased from Atch. Top. & S. Net earnings................. .$214,472
$309,273
$356,819
$318,487
Fe R R V the K. C.C. & S. Co. assuming the bonds. Road was built in the
Disbursements—
interest or K. C. Ft. 8. & G. RR., which company guarantees the bonds. Rentals paid.................. . $28,000
$28,000
$52,000
$62,074
Stock authorized, $2,500,000; issued, $1,775,4 0, of which a majority Interest on debt........... .. 70,875
130,630
214,563
256,880
is owned by the Kansas City Fort Scott & Gulf RR.
20,412
39,731
Taxes & miscellaneous. . 41,617
50,402
.. 73,252
K a n s a s City F o rt Scott Sc G u lf.—Mileage is as follow s:
Mam fine—Kansas C ity to Baxter Springs, 160 miles; branches—Weir
$179,042
Total disbursements. $213,744
$306,294
$369,356
City to Cherry\alle, 50 miles; Arcadia to Coal Mines. 2 miles; Baxter
$130,231
♦$50.525 def. $50,869
Springs to Webb City, 22 miles; Rich Hill Junction to Carbon Centre Balance, surplus. . . . . . . . .. : $728
* The coupons due Jan. 1,1881, were $181,110, and deducting the sur
and Rich Hill, 28 miles; Fort Scott Junction to Springfield, 100; Coalvale to Cherokee, 26. Total operated, Dec. 31, 1884, 389 miles. In plus fer the year 18 33, $30,525, there was an actual deficit of $130,585.
October, 1884, the Pleasant Hill & De Soto road was purchased by the —(V. 40, p. 61, 362, 427, 5 4 0 ; V. 41, p. 23, 161, 527, 653; V. 42, p.
60, 187, 272.)
Kansas City Clinton & Springfield, and the bonds assumed.
This company was organized April 1, 1879. as successor to the
K
Moines,
Missouri River Fort Scott & Gulf, which made default October 8, la., e o k u k Sc Des M o in e s.—Owns from Keokuk, la., to Des the Des
162 miles. This was a reorganization, Jan.
1873, and was sold in foreclosure February 4,1879. The first mort Moines Valley Eastern Div., sold in foreclosure1, 1874, of
October 17, 1873.
gage bondholders of the old road took 80 per cent in the new mort- The property was leased for 45 years from Oct. 1,1878, to the Chicago
age bonds, and for all other claims stock was issued. The branches Rock Island & Pac. RR. on the terms follow ing: that the lessee pay 25 per
ave been built mainly by this company and bonds are guaranteed.
of
to this company, but guarantee the interest
The Kansas City Clinton & Springfield bonds are guaranteed by Kans. cent thethe gross earnings prevent bonds. The stock is $1,524,600 of 8
(not
principal) on the
Cits’- Fort. Scott & Gulf. (See Y. 39, p. 234.)
®
per ceut preferred and $2,600,400 of common, a majority of which is
The annual report for 1884 was in V. 40, p. 623. The net amount
by the lessee. In the year 1883-84 gross earnings were
to be realized from the land assets still remaining for the purchase of held rental, at 25 per cent, $123,720, leaving $13,780 deficit on$494,831,
and
the
bonds is estimated at about $250,000. The bonded debt of the leased est charge paid by lessee. A dividend of 1 ^ per cent on preferred inter
stock
lines (principal and interest of which is guaranteed by this company) was paid December, 1881.
was increased during the yearl884 by about $340,000, as shown in the
report. The following gives the earnings and income account, but does
K in g s County E le v a te d .—
Liue of road on Fulton Street, Brook
not include the 50 miles of narrow-gauge road prior to the year 1883 lyn. In January, 1886. the following directors were re-elected: Q. A .
(which during the year 1882 were widened to standard gauge). The Gilmore, James Jourdtn, Harvey Farrington, E. A. Abbott, Samuel
income account, however, includes all lines, the difference m net earn Thorne, James O. Sheldou. Geirge Shea. H n\v J. Robiuso i and Wen
ings in 1882, as stated, being due to a pro at of $50,745 on the nar dell Goodwin. The finim ial statement showed that 10 per cent of the
row-gauge road. In 1883 and 1884 all ines are included in operations. bon Is had been paid in, amounting to $275,000. The dire tors el voted
f
52
RAILROAD STOCKS AND BONDS
[V ol . XLI1.
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered in these Tdbles.
Bonds—ririnoiDESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal.When Due.
Amount
For explanation of column headings, &c., see notes of
Par Outstanding. Rate per When Where Payable, and by Stocks—Last
of
on first page of tables.
Whom.
Road. Bonds Value.
Cent. Payable
Dividend.
Lackawanna <6 Pittsburg—Mortg. (for $2,000,000)
Income bonds..............................................................
Allegany Cent., 1st mortgage, gold.........................
62
do
2d mortgage, gold ........................
62
do
Income mort., not cumulati___
Lake Eric eg Western—S tock ....................................... 386
1st mortgage, gold.................................................... 165
Income bonds convertible (not cumulative).........
Sandusky Extension, 1st mortgage........................
21
do
do
income bonds.......................
21
Lafayette Bloom. & Muneie, 1st mort., gold......... 200
do
do
income M. con. (non-eumul.) 200
Lake Shore eg Michigan Southern—Stock................... 1,340
Guaranteed 10 per cent stock.................................
Consol. 1st mort., (sink, fund, 1 per cent) coupon. 864
do
do
do
registered 864
Consol. 2d mort., do. (for $25,000,000) coup.& reg. 864
Lake Shore dividend bonds.....................................
258
Sd mortgage (C., P. & A. RR.) registered bonds..
95
Buffalo < State line, mortgage bonds.....................
k
88
Buffalo & Erie, mortgage Donds.............................
88
Det. Monroe & Tol., 1st mort., coup., guar............
62
Kalamazoo & White Pigeon, 1st mortgage..........
37
Schoolcraft & Three Rivers. 1st mortgage............
12
Kalamazoo & Schoolcraft, 1st mortgage...............
13
Kalamazoo Allegan & Gr. Rapids, 1st mortgage...
58
1883
1881
1882
1882
1879
1879
1880
1880
1879
1879
1870
1870
1873
1869
1867
1866
1868
1876
1869
1867
1867
1868
$ ....
$1,642,000
1,000,000
299,000
59,000
50Ó &c.
36,000
7,720,000
1,000
1,815,000
1,000
1,485 000
1,000
327,000
1,000
580.000
1,000
2.500.0CC
1,000
1,000,000
100 49,466,500
100
533,500
1.000 y-fK DAI rwy) i
1,000
t
1,000 24,692,000
1,000
1,356.000
1,000
920,000
1,000
300,000
500 &c.
2,784,000
1,000
924,000
1,000
400,000
1,000
100,000
1,000
100,000
1,000
840,000
1,000
6
A. & 0. Last paid April, 1884
6
J. & J. Last paid July, 1884
6 g.
Last paid Oct., 1884
6 gJan’ary
6
6 g.
7
6
7
6 g.
7
1*3
5
7
7
7
7
7
7
7
7
7
8
8
8
F. & A.
August.
F. & A.
M. & N.
Yearly.
Q.—F.
F. & A.
J. & J.
Q .-J .
J. & D.
A. & O.
A. & O.
M. & S.
A. & O.
F. & A.
J. & J.
J. & J.
J. & J.
J. & J.
April 1, 1923
April 1, 1923
Jan. 1, 1922
Jan. 1,1912
Last paid Feb., 1885
Aug. 15.1919
Aug. 15, 1899
Last paid Feb., 1885
Aug. 1, 1919
Aug. 1, 1920
Last paid Nov., 1884
May 1, 1919
May 1, 1899
N.Y.,Grand Cent.Office. Nov. 1, 1884
do
do
Feb. 1. 1886
July 1, 1900
July 1, 1900
Dec. 1, 1903
Coupons are paid by
April 1, 1899
Treasur’r at Grind
Oct. 1, 1892
Central Depot, N.
Sept. 1, 1886
Y., and registered
April 1, 1898
interest by Union
Aug. 1, 1906
Trust Company.
Jan. 1, 1890
July 1, 1887
July 1, 1887
July 1, 1883
J
these officers: President, General Gillmore; Vice-President, General made in 1882. The Chicago & Canada Southern is also operated by the
Jourdan; Treasurer, James H. Frothingham; Secretary, Henry J. Lake Shore & Michigan South.
Robinson. (V. 42, p. 93.)
8tocks and B onds.—The guaranteed stock of $533,500 carries 10 per
ordinary stock has
the following dividends
L a c k a w a n n a &, P ittsb u rg .—A consolidation in April, 1883, of cent dividends. The 1871,8; in 1872,8; paid 1873,4; in 1874, 3% ; in
since 1870, viz.: In
in
the Allegany Central and the Lackawanna & Pittsburg. Road operated 1 875,2; in 1876, 334; in 1877, 2 ; in 1878, 4 ; in 1879, 6*2; in 1880
Jan., 1884, from Lackawanna Junction, New York to, Perkinsville, 41
1883, 8
1884,7; in 1885,
miles ; Swain’s to Nunda, 12 miles, and Olean to Angelica, 39 miles. 1881,1882 andprices of percent each year; inbeen: In 1871,851nil.
The
stock since 1870 has
$'a>116U::
The last-named line is 3 ft. gauge and the others standard gauge, also 1872, range in
1873, 57%®97%; 1874, 677a®8458; 1875, 51%®
operates under trackage contract from Lackawanna Junction to New 80*2; 1876, 48
685s; 1877, 45®733q ; 1878, 578»715«: 1879,67®
Castle, 207 miles. Stock $5,000,000, of which $1,500,000 is preferred.
108; 1880,
1 881,1125s®
in 1883,
The A. C. 1st mort. bonds are redeemable any time at 105. In 1884 92%'®11478; 95®13958; 59*a@104%; 135%; 1882, 98 ® 120*8; 1836, to
in 1885, 50%®897 in
s;
Company became embarrassed and in D ec., 1884, a receiver was ap April 16, 79J in 1884,
4®90:1
4.
pointed, and in Feb., 1880, was authorized to borrow $50,000. Geo. D.
The first consolidated mortgage bonds are redeemed each year by
Chapman, President and receiver, New York City. Earnings in 1884-5,
the
above
of aU
$70,339: deficit, $79,253; interest, $106,416; total deficit, $185,670. (V. $250,000 contributed to givensinking fund. The held in bondssinking
classes outstanding are
less the amounts
the
40, p. 684; V. 41, p. 556; V. 42, p. 215.)
funds, which amounted to $3,750,000 Dec. 31, 1885.
Operations, F inances. &c.—The annual reports of this company are
L a k e Erie & W e s te r n .—Owns from Sandusky to Fremont, 22
miles; Fremont to Celina, 99 miles; branch to Minster, 10 miles; models of clearness in all the statistical matter. The road is greatly
Celina to Muneie, 54 miles; Muneie to Illinois State line, 120 miles; dependent on through traffic, or traffic from competitive points, and its
Illinois State line to Bloomington, 81 miles; total operated, 386 miles. business is injured by any cutting of rates.
in 1882, 140,500 shares preferred stock and 124,800 shares of com
This was a consolidation, Dec. 12,1879, of the Lafayette Bloomington &
Muneie and the Lake Erie & Western. The line embraces the former mon stock of the New York Chicago & St. Louis Railroad (a con
Lafayette Bloomington & Mississippi road and the Lake Erie & Louis trolling interest) were purchased and $6,500,000 of Lake S. & Mich.
S. 2d consol, mortgage bonds issued to pay for it, making an additional
ville. There are also $165,000 in car trust certificates outstanding.
The earnings of the road during the past three years have shown a con interest charge of $456,890 per annum.
For the year 1885, the statement in V. 42, p. 22, gave the follow ing:
siderable deficit, which was owing partly to failure of the crops and low
1885.
1884:.
freight rates, but in 1883-84 a large decrease in operating expenses was
Gross eamiDgs..............................................$14,088,457
$14,843,584
made, thus increasing net earnings and reducing the deficit.
9,247,081
9,133,521
On April 25, 1885, the vice-president, J. H. Cheney, was appointed Operating expenses.....................................
receiver, and the May interest on the bonds was not paid. In June a
Net earnings........................., ............... $4,841,376
$5,710,062
sale of the road was ordered to satisfy judgments for $330,000, and the
3,893,000
3,720,670
directors requested stockholders to pay an assessment of 7 per cent on Interest, rentals, &c....................................
the par value of their stock; in August the sale was postponed indefiBalance for stock..................................
$948,376
$1,989,392
nately, and no assessment was paid. Foreclosure suits on both the first
(1-92)
(4*02>
mortgages were begun in Sept., 1885. The plan of reorganization Equals per share..........................................
The annual report for 1884 was published in V. 40, p. 566. containing
proposed in Jan., 1886, was given in V. 42, p. 155 and 242, and another
the tables below, showing the earnings and income account for a series
plan of L. E. & W. bondholders on p. 187.
The fiscal year of this company terminates June 30. No report for of years:
OPERATIONS AND FISCAL RESULTS.
1884-85 has been issued. For tne year 1883-84 the report was in the
Chronicle , V. 39, p. 492.
1881.
1882.
1883.
1884.
1880-81.
1881-82.
1882-83.
1883-84. Miles operated........
1,177
1,340
1,340
1,340
Earnings—
$
$
$
$
Operatio tzs
323,474 332,608
348,532
308,033 Pass’gers carried....
Passenger.....................
3,632.006 4,118,832
3,909,356
3.629.196
Freight.....................
916,969
936,008
1,023,032
815,037 Pass’ger m ileage.... 207.953,215 227,098,958 215.715,155 190,503.852
Mail, express, & c...
176,423
155,397
131,959
141,124 Rate p. pass. p. mile 1*988 cts.
2-157 cts.
2-196 cts.
2-170 ots.
Fr’ght (tons) moved.
9,164,503 9,195,538
8,478.605
7.365,688
Total gross earn..
1,416,866
1,424,013
1,503,523 1,264,194 Fright (t’ns) mileage *2,021,755 *1,892,868 *1,639,512 *1,410,545
Operating expenses—
Av. rate p. ton p. m. 0 617 cts.
0-628 cts.
0-728 cts.
0-652 ots .
Mamt. of way, &c..
319,791
291,864
380,591
228,762
Earnings—
$
$
$
$
Maint. of equipm’nt.
103,331
133,436
154,089
127,725 Passenger....................
4,134,789 4,897,185
4,736,088
4,133,729
Transportation exp.
521,343
549,347
651,993
495,567 Freight....................... 12,659,987 12,022,577 12,480,094
9,358,817
Taxes.........................
36,934
48,365
56,876
56,464 Mail, exp., rents, &c. 1,176,615 1,305,877
1,297,474
1,351,038
General......................
67,535
64,525
7<»,485
56,731
Constructs & equip.
45,269
66,543
115,490
39,180 Total gross earnings 17,971,391 18,225,639 18,513,656 14,843,584
Operating Expenses—
$
$
$
$
Total......................
1,094,203
1,154,080 1,429,524 1,004,429 Maint’ce of way, &c. 2,182,510
2,323,789 2,095,492 1,532,252
Maint. of equipment. 1,596,537
1,552,805
990,907 1,111,329
322,663
269,933
73,999
259,765
Net earnings............
5.968,350 6,592,742 5,380,166
Interest on d e b t. . . .
317,218
312,255
310,653
*333,322 Transport’n exp’nses 6,275,361
Taxes.............................
472,566 503,852
530.236
521,546
751,454
709,011
792,476
588,231
Balance.................. sur. 5,445 def. 42,322 def. 236,654 def. 123,557 Miscellaneous t........
* Includes income bond interest.
—(V. 40, p. 92,182, 363, 424,542, 625, 684, 741; V. 41, p. 50, 215, 275
330, 356, 445, 473; V. 42, p. 60, 155, 187, 242.)
L a k e Shore & M ic h ig a n S o u th ern .—Like op Road — u:
B
faloN. Y.,toChicago, 111., 540 miles; branches owned,324miles. Othe
fine? owned as follow s: Detroit Mon. & Toledo, 62 miles; Kalamazoo .
White Pigeon, 37 miles; Northern Central (Mich.), 61 miles; total, 16
miles. Roans leased are as follows: Kalamazoo Allegan & Gr. Rapidi
58 miles; Jamestown & Franklin, 51 miles; Mahoning Coal R., 43 miles
Detroit Hills. & Southwest., 65 miles; Fort Wayne & Jackson, 98 miles
total, 315 miles. Total road owned, leased and operated, 1,340 miles.
Organization, <fcc.—This company was a consolidation of the Lak
Shore RR. and Michigan Southern & North. Indiana RR. May 27, 186£
and the Buffalo & Erie RR. August 16,1869. The consolidated line en
braces the former roads of the Cleveland & Toledo and the Clevelan
Painesville & Ashtabula railroads. The stocks of some of the railroad
which entered into the consolidation forming the Lake Shore & Michiga
Southern road had Deen largely increased by stock distributions, ando
the lines between Buffalo and Toledo the profits had been so large tha
the capital of several of the companies had been repeatedly waterec
The consolidated line (including Detroit Monroe & Toledo) then eu
braced 927 miles, with $34,938,000 stock and $22,283,000 funded deb1
The roads leased at fixed rentals are the Kal. Allegan & Grand Rapidi
Jamestown & Franklin and Mahoning Coal. The Detroit Monroe& To
Kalamazoo & White Pigeon, and the Northern Central of Michigan, ar
proprietary roads controlled by ownership of their stock. The Nei
York Chicago & St. Louis road is similarly controlled by the purchas
Total................... 11,278,428 11,057,807
Net earnings...........
6,692,963
7,167,832
P.c.of op.ex.to ear’gs
62-76
60-67
11,001,853
7,511,803
59"43
9,133,521
5,710,063
61*56
* Thee ciphers omitted.
t Includes damage and loss ot freight and baggage, personal injuries,
law expenses, rents payable and hire of cars.
INCOME ACCOUNT.
1881.
1882.
1883.
1884.
Receipts—
$
$
$
$
Net earnings............
6,692,963
7,167,832 7.511,803
5,710,063
Interest, dlvid’s, &c.
238,675
98,392
158,540
............
Total in com e....
Disbursements—
Rentals p a id ............
Interest on debt.......
Dividends, g u a r.....
Dividends, ordinary.
Rate of dividend . . . .
New cars & engines*.
Miscellaneous..........
6,931,638
7,266,224
7,670,343
5,710,063
273,925
2,612,230
53,350
3,957,320
8
674,949
199,597
357,087
2,714,955
53,350
3,957,320
8
............
............
471,876
3,132,120
53,350
3,957,320
8
............
............
446,4503,220.870
53,3502,473,326
5
............
Total disbursem’ts 7,771,371 7,082,712
7,614,666
6,193,995
Balance.................... Def. 839,733 sur.183,512 sur 55,677 def.t483.932.
* In 1882 this item amounted to $1,019,000, but was charged to gen
eral account
A p r il
1886.
S3
KAILKOAD STOCKS AND BONDS.
Subscribers w i l l confer a great favor b y g iv in g im m ediate notice o f any error discovered In these Tab^e»
Bonds—Princi
INTEREST OR DIVIDENDS.
pal .When Due.
DESCRIPTION.
Date Size, or
Amount
Where Payable, and by Stocks—Last
Par Outstanding
of
Dividend.
For explanation of column headings, &c., see notes
Whom.
Bonds Value.
on first page of tables.
Lake Shore A Michigan Southern—( Continued)
Kal. Allegan & Or. Rapids, stock, 6 p. c. guar—
Jamestown & Franklin, 1st mortgage.......... .........
Jamestown & Franklin, 2d mortgage....................
Lawrence—
#took............................................................
1st mortgage............. .............................. .................
Lehigh A Hudson Hirer—1st mortgage, gold............
Warwick Valley, 1st mortgage...............................
do
2d mortgage.................................
Lehigh A Lackawanna—1st & 2d mortgages............
Lehigh -Valley-Stock ($106,300 is pref.)..................
1st mortgage, coupon and registered.....................
51
51
22
17
41
22
22
25
323
101
Consol, mort., gmd, $ & £ (s.fd. 2 p.c.y ly) cp-®
Easton & Amboy. 1st mort., guar.jfor $6,00t,uuu)
Delano Land Company bonds, endorsed..........
Little Miami- -Stock, common---- ----„ , , rp i
Street con. 1st M. bds (jointly with Cin.& Ind.KK.)
Renewal mortgage.
Little Bock A Fort Smith—Stock . .....................
1st mort., land grant sink, fund......................
Funding coupon scrip.............
Little Bocic Miss. Biver A Texas—1st mortgage.
2d mortgage....................... ...............................
Little Schuylkill—Stock........................................
Long Island—Stock..................................
1st mortgage, extension....................................
1st mortgage, m a in ..........................................
Consol, mortgage, gold (for $5,000,000)........
101
232
60
196
'*84
168
165
170
*31
354
'*95
156
164
3
$610,000
7
298.000
7
500.000
1,000
2
500.000
50
7
314.000
1,000
1865
6
800.000
1881
6
145.000
1879
6
240.000
1381
7
600.000
1,000
1877
1
33,099,100
50
5.000.
000 6
1,000
1868
7
6.000. 000
1,000
1870
6
13,686,000
1,000
1873
5
4.500.000
1,000
1880
7
1.395.000
1,000
187.2
2
4,837,300
50
6
250.000
1,000
1864
5
1.500.000
1,000
1882
4,505,308 10 stock
7
2.375.500
1875 500&C.
7
634,725
7
1.871.500
5
1*8*76 500 < sc.
7
1.106.000
1,000
1881
3*a
2,487,850
50
1
10, 000,000
50
7
175.000
500
1860
7
1.121.500
500
1868
7
268,706
1878 100 &c.
5
3,430,000
1,000
1881
1863
1869
1,000
GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR.
1884.
1883.
1881.
1882.
$
$
Assets—
$
$
70,043,600
Railr’d, build’gs, &c. 69,848,600 69,848,600 70,048,600 17,300,000
17,300,000
Equipment................ 16,150.000 17.169,000
365,780
365,780
R1 est. & office prop.
305,798
365,780
71 ■,000
=
’
715,000
Ch.&Can.So.bds.,&c.
660,000 0
12,012,839
9,414,477
Stocks owned, cost..
1,907,386 8,702,428
933,030
1,554.030
2,127,180
Bonds owned, c o s t..
2,115,180
1,454,942
1,421,342
1,394,956
Advances..................
1,109,578
966,311
1,221.178
1,355,153
Materials, fuel, & c...
l,lt>6,890
218,682
317,320
534,275
Cash on hand............
724,669
582,545 -1,249,858
604,312
Uncollected earnings
994,797
95,282^898 102,761,634 102,940,272 105,265,092
Total assets.
$
$
$
Liabilities—
$
Stock......................... 50,000,000 50,000,000 50,000,000 50,000,000
44,466,000 47,716,000
Bds, (see Sufplem ’ t ) 38,439.000 44,716,00 >
26^675
1,016,005
1,016,005
D ividends.................
1,016,005
2,975,161
2,506,589
2,133,677
Other liabilities........
1,115,402
4,547,256
4,396,002 4,951,678
Profit and lo ss. . . . -4,712,491
Total liabilities.. 95,282 8 ^ 1 02 ,7 6 1 ,6 84 1 0 2 940,272 105,265,092
—(V. 40, p. 304,337,338, 363, 5 6 6 , 62o, 626; \ . 41, p. 23, 242, 33U,
612,720 ; V. 42, p. 4, 22, 272.)
L a w r e n c e .—Owns from Lawrence Junction, Pa., to Youngstown, O.,
18 mfies?teanchfrom Canfield Junction to Coal
; JSÌq
onerated, 22 miles. The Lawrence Railroad was leased June 27, I8b9,
to Pittsburg Fort Wayne & Chicago RR. at 40 per cent on gross earmngs,
with $45,000 per year guaranteed as a minimum. Lease has beentransferredto PennsylvaniaCo.,bywhich the road ^ ^ o w
1n0P Ì ^ teA 5'Ìio9^
earnings in 1884, $204,109; rental, $81,644 ; gross in 1833, $257,169,
net, $135,391; rental and interest, $102,843.
L e h iir h Sc H u d s o n R i v e r . —This road was opened from Greycourit on Erie road, to Belvidere, N. J., 63 miles. August, 1882. Consohdation April, 1882. of the Lehigh & Hudson River and the Warwick
Valley roads! In addition to above there are $65,000 Wayawanda 6 per
cent bonds due 1900 and $53,000 Lehigh & H u d s°n
due 1909. Stock, $1,340,000. Coupons due July, 1885, not paid, and
bondholders asked to fund four coupons July, 1885, to Jan..,1887, in
clusive. In Dee., 1885, a traffic contract
Nav.Co. In 1883-84 gross earmngs, $162,795; net, |74,242 .interest
on bonds, $81,802. In 1882-83 gross earnings $163,780. net, $67,331.
Grinnell Burt, Pres., Warwick, N. Y. (V. 41, p. 102, 720.)
L e k i g k Sc L a c k a w a n n a .—Owns from Bethlehem,
to Ban
nor P a . 32 miles. This road was opened in 1867. It is leased
& the Lehigh Coal& Nav. Co., and operated by Central RR. o fN e w
Jersey. Of the above bonds, $100,000 are a 1st mort., and $500,000 2d
mort. Capital stock, $375,100. Gross earnings m 1883, $63,839, net,
$19,315. Gross earaiugs in 1884, $69.546 ; net. $15,252.
L e k i s k V a lle y .—Owns from Phillipsburg (Pa. Line), N. J., to
Wilkesbarre, Pa., 104 miles; branches—Penn Haven to Audenned,
18 miles; Hazle Creek Bridge to Tomhicken (and branches), 32 miles;
Lumber Yard to Milnesville (and branches), 18 miles ; Black Creek Junc
tion to Mti. Carmel (and branches), 61 miles ; Slatedale branch, 4 miles ;
Bear Creek Junction to Bear Creek, 11 miles; Lackawanna Junction to
Wilkesbarre, 10 miles ; State Line & Sull. RR., Monroeton to Berwick,
24 miles ; also owns the Easton & Amboy RR., Amboy, N. J., to Pennsyl
vania Line, 60 miles ; total operated, 346 miles.
„
This is one of the most important of the coal roads Dividends on the
ordinary stock have been as follows since 1870 : In 1871,1872,187o,
1874 and 1875,10 per cent paid; in 1876, 9; in 1877, 5^ ; in 1878,1879
and 1880, 4 ; in 1881, 5*3; in 1882, 6%; in 1883 and 1884, 8; in^.885, 6
per cent. Prices of the common stock to Philadelphia since 1877 were
as follows: In 1878, 32%®42i4 ; in 1879, 33^ ® 55; m l8 8 0 , 46® 57%,
in 1881, 571
a®64i4; in 1882. 581
4®67%; in 1883, 63®731 m 1884, o7
4;
®71’ t> in 1885, 54% ^G l^; in 1886, to April 16, 55*2® 62.
;
The fiscal year ends November 30. The last annual report was in tne
Chronicle, V. 42, p. 123. It is one of the peculiarities of the company s
annual report that no general balance sheet is given. The earnings,
expenses and income account for the fiscal years ending Nov. 30. were :
1884-85
1883-84.
1882-83.
$
Earnings—
$
6,079,512
Coal freight...................................... 7,401,796 6,295,282
1,617,236
1,763,429
Other freight.................................... 1,985,405
860,139
889,496
Passenger, mail, express, &e........
830,949
April 1, 188 6
A. & O.
See preceding page. Var.to J’ly, ’97
J. & J.
June 1, 1894
J. & D.
April 2, 1886
Pittsburg Office.
Q - J.
F. & A. N. Y., Winslow, L. & Co. Aug., 1895
1, 1911
J. & J. Last paid Jan., 1885. July 1899
A. & O.
1911
A & O.
Dec. 1.1907
Philadelphia.
.7. & D.
Philadelphia, Office. April 15.1886
Q.—J.
Reg. atoffice; cp.B’kN.A June, 1898
J. & D.
Sept., 1910
M. & S. Philadelphia, Office,
1898 & 1923
do
do
J. & D.
1920
do
do
M. &N.
Jan., 1892
do
do
J. & J.
Mar. 10, 1886
Cincinnati.
Q.—M.
1894
Various Cinn., Lafayette Bank. Nov. 2, 1912
M. & N. N. Y., Bank of America. tfuly 18, 1881
Boston, Treasurer.
& J. N.Y.,Wm.C.Sheldon&Co Jan. 1, 1905
& J.
1,
J. & J. Last paid Jan., 1882. Jan. 19111906
A. & O. Last paid April, 1882. Jan. 9,1886
J. & J. Philadelphia Office.
Q —F. N.Y.,Corbin Bank’g Co May 1, 1886
Aug., 1890
do
do
M. & N.
May, 1898
do
do
M. & N.
Aug. 1, 1918
do
do
F. & A
July 1, 1931
do
do
Q .-J .
1882-83.
1883-84.
1884-85*
Disbursements„ 03? 675
2,057,207
2,059,541
Interest on d e b t -...-.-.’
General, taxes, Aoating^interest,
421920
473.355
650,385loss on Morris Canal, &c............ 2 210,378 2,372,242
1,660,234
C h arg^ for accum.depreciations'^ 347,9 4 4 ____” ”
____''7 . ~_1_
Total disbursements................
5’ i2 2 ’ 599 4,937’,474
4’ 33 0 J 03
Balance, surplus ..........................
Tn 1883 10 on nreferred and 8 on common; in 1884, 10 on lJfOferred aSd 8 on c?mmom in 1885,10 on preferred and 5 on common.
-(V . 40, p. 121, 30 3; V. 42, p. 123.)
1 ittiA n n a m l.—Owns from Cincinnati, Ohio, to Springfield, Ohio
84^mUes; branch, Xenta, Ohio, to Dayton, Ohio, 16 miles: leased,
Columbus & Xenia Railroad, Xenia to Columbus, Ohio 55 miles;
Davton & Western Railroad, Dayton, 0 .,to Indiana State Line, 37 miles;
Ohio State Line to Richmond, Ind.,4 miles; total operated, 196 miles. The
Little Miami Railroad proper extends from Cincinnati to Springfield, but
tae portion between Xenia and Springfield is now operated as a branch ;
for the remainder of the main line, as given above, the Col. & Xenia
road, Columbus to Xenia, is used. On Jan. 1,1865, they leased the Day
ton & West. (Dayton to Ind. State line) and the Rich. & Miami (State fine
TfiehmoTid) and on Feb. 4,1865, purchased the road froni Xenia to
Dayton; these three roads go to form
|J3fa
above. The partnership agreement was dissolved Nov. 30,1868, ana a
contract made bv which the Col. & Xenia road, including its interest in
the abov “ named branches, was leased to the Little Miami for 99 years.
On December 1, 1869, the Little Miami.with aU its branches, &c.
was leased to the Pittsburg Cincinnati & St. Louis Railroad Com
pany for 99 years, renewable forever. The Pennsylvania Railroad
Company is a party to the contract and guarantees ita faithful execution.
Road is now operated by Pittsburg Cin. & St. Louis Railway Co. Lease
rental is 8 per cent on $4,837,300, interest on debt and $5,000 per
annum for little Miami Company’s expenseis < . f^ a n ^ a tm n ; the fulfllment of the lessor’s lease obligation is also stipulated. In. loo4: tn©
cross earnings were $1,569,900; net, $206,114; lease rental, &o., of
lessee, $683^819; loss to lessee, $477,705, against $405,780 in 1883.
L ittle R o c k Sc F o rt Sm itk.-O w ns from Little Rock, Ark., to
Fort Smith, 165 miles; branches, 3 miles; total, 168. In Dec., 1874,
the property (then 100 miles), including the land grant, was sold in
foreclosure/T his company afterwards built 6
0
^n flafrer
road to Fort Smith July 1,1876. Six coupons of Ju ly ,1876, and after
tato6 i o nye6?r “ tip the c o ^ o M fa liin g due July’ 1883, and January,
*1 25
r t l S , WOO.OOO was In cash. In 1 « M | T O s a t i n y
wcrA «589 071 • net. $245,582. Interest on bonds, taxes, &c., in 1884,
H. Converse, President, Boston. (V. 40, p. 337, 6 * 4 , V. 41, p. 3U/, 4 ao,
V. 42, p. 155,215.)
7;
v .lttle R o c k M ississipp i R iv e r Sc T e x a s .—Owns from Little
R ^ k t a Arkansas City, 113 m ilesjT rip p sto Warren,53 mitas; Rob
¿ e ™ e ;R ^ | ^ B l ^ ^ w O r l e ^
fh ^ m T a d i r r e ^ f f i
n
uanv is involved with others as defendant in the smts by Arkansas State
bondholders. The coupons due Jan. 1 , 1S83, were not paid, and scrip
was offered to bondholders for two years mterest to be* funded. B y
a circular of the President issued in June, 1885. a new
wiiQ TironnRftd as uer terms mentioned m V . 41, p. ¿o. foreclosure buuu
wereP
be-Sn Si Nov.! 1885, and in Feb , 1886, E H. Winchester and John
Reed were appointed receivers. In 1883 gross
^ a t t a c k ?!
*
net. $93,177. In 1884 gross, f 3 b8’2^1;
4 -l n 23 585*
$3,594,600. w.ii»ba. Atkrns, President, Boston, Mass. (V. 41, p. 23, 080,
's c i i u v l k i l l . —Owns from Port Clinton to Tamanend, 28
mfies; b r S S s , 3 miles; tot^ operated, 31 miles The East Mahannv t? r was leased Jan. 12,1863, for 99 years, and sub-leased to Fnila»
*
& Reading July 7,1868. The Little Schuykill Railroad is leased to the
PhiladelpTiia & Reading Railroad for 93 years from July 7,1868, at a
fixed annual rental
„ „ « “ " i f i , , 95d1 n r “ r,“ “ e i ° 8 ^ ^ S f « » 0 ^ . 1 , ’ & m U »!
S
8,556,917 L ^ - S i i d t M o w n * A . R E , , 19'0mileK S tew ortyR toB eth 4,888,998
14-5- Stewart RR. to Hempstead, 1*8; New YorK
rtocaawajr
RR.?’ 8'9; Brooklyn & Jamaica RR,, 9*6; Newtown & Fhistan„ RR-»
Net earnings................................. $4,042,494 $3,702,134 $3,667,919 3*9 • Brooklyn & Montauk, 67; Manhattan Beach RR., 10 7 , .
Ridge & jam ., 8 1; Ij- t fitv & Man. Beach, 1*4; Hunter’s Point & So.
T*
RR *
INCOME ACCOUNT.
1882-83.
1883-84.
1894-85
Total gross earnings.................... 10,218,150
Operating expenses ....................... 6,175,656
8,94«,207
5,246,073
Ne^earnings....................................
4,042,494 3 ,7 ol.l3 4
Other receipts and interest. . . . . . .
1,092,022
Total net income.......... .
5,134,516
3,66^919
1,236,144
732,344
4,910,278
4,400,263
°^ ^ edlAumSslandeRailroad1w m t into the hands of a receiver October,
1877 but m 1881 the company resumed poss e aoi*. The second mort
gage bonds were issued to take up tioatn g debt oi v u*ious classes.
BAILROAD
5 4
STOCKS
AND
BONDS.
[V o l . X L II.
Snbscrlbers w i l l confer a great fa v or by g iv in g Im m ediate notice of. any error discovered In these Tables.
DESCRIPTION.
INTEREST
Bonds—
Princi
Miles Date Size, or
pal, When Due.
Amount
For explanation of column headings, &c., see notes of
Par
of
Outstanding Rate per When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
h on g Island—(Continued) —
New York & Roekaway, guar. Int. only................
$500
10 1871
$250,000
7
A. & O. N. Y., Corbin Bank’g Co April, 1901
Smithtown & Port Jefferson mortg., guar............ .
500
19 1871
600,000
M. & S.
7
fio
do
Sept., 1901
Equipment certificates........................................
....
100.000
7
hong Island Oily <6Flushing—1st M., coup, or* reg.
1,000
10% 1881
600,000
6
M. & N. N.Y., Corbin Bank’g Co May 1, 1911
Income bonds (cumulative) ($350,000)..................
1,000
10% 1881
312,000
6
Jan. 1
do
do
May 1, 1931
h os Angeles <- San Diego—1st M. (for $2,800,006)!!
£
1,000
27 1880
556,000
6
J. & J N. Y., Central Pacific. July 1, 1910
■Louisiana Western—1st mortgage, g o ld ..................
1.000
112 1881
2,240,000
6 g- J. & J. N. Y., Company’s Office July 1. 1921
Louisville Evansville < St. Louis.—1st mort........
&
1,000
255 1880
3,900,000
6 I- A. & O, Last paid, Oct., 1882.
1920
2d mortgage, gold..........................................
1,000
255 1882
1,000,000
7 g. M. & S. Last paid, Mch., 1883.
1902
Income bonds....................................................
1,000
255 1881
3,000,000
4
April.
1920
Louisville A Nashville—Stock..........................
100 30,000,000
2,065
3
F. & A. L. & N. RR., 52 Wall St Feb. 1, 1882
General mort., gold, coup, or reg. ($20,000,000)! 840 1880
1,000 12,237 000
6 g- J. & D. N. Y., Drexel, M. & Co June 1, 1930
_
Louisville loan, main stem (to be paid o ff)..........
850.000
6
A. & O.
New York Agency.
1886 & 1887
Lebanon branch, Louisville loan.............................
1,000
38 1856
214,000
6 & 7 Various N. Y., Drexel, M. & Co
1886
do
extension, Louisville loan.....................* 110 1863
1,000
333.000
6
A. & O.
do
do
Oct. 15, 1893
Lebanon-Knoxville extension mort. ($1,500,000) 172 1881
1,000
Pledged.
6
M. < S. New York, Agency. March 1, 1931
fc
Cecilian Branch, 1st mortgage................................
1,000
46 1877
1,000,000
7
M. & S. N. Y., Drexel, M. & Co, Mar. 1, 1907
Consolidated 1st mortgage....................................
1,000
392 1868
7,070,000
7
A. & O.
do
do
April, 1898
Memphis & Ohio, 1st mort., sterling, guar............ 130 1871
£200
3,500,000
7
J. & D. London, Baring Bros. June 1, 1901
Memphis & Clarksville br., 1st mort., sterling___
£200
83 1872
2.058,340
do
do
6 g- F. & A.
Aug., 1902
Mort. on Ev. Hen. & N., g o ld .................................
1,000
135 1879
2,400,000
6 g- J. & D. N. Y., Drexel, M. & Co. Dec. 1, 1919
Collateral trust, 3d mort., gold, sink, fund.......... !. 1,079 1882
1,000
9,897,000
6 g- Q.—Mar N. Y., Drexel, M. & Co. Mar. 1, 1922
10-40 Adj. M., gold, coup, or reg. (red’ble aft. ’94) 783 1884
1,000
3,000,000
6 g- M. & N. New York, Agency.
Nov. 1, 1924
1st mortgage on New Orleans & Mobile R R .........
1.000
141 1880
5,000,000
6 g. J. & J. N. Y , Drexel, M. & Co. Jan. 1, 1930
¡2d mortgage
do
do
______
1,000
141
1,000,000
6
J. & J. New York Agency.
Jan. 1, 1930
Bonds sec’a by pledge of 2d mort. S.&N.Ala.RR\" 189 1880
1,000
2,000,000
6
A. & O. N. Y., Drexei, M. & Co. April 1, 1910
1st M., gold, on Southeast.* St.L.RR.,coup.or reg. 208 1881
1,000
3,500,000
6 g. M. & S.
do
do
March 1, 1921
2d mort., gold, on Southeast. & St. Louis RR., cp. 208 1881
1,000
3,000,000
3 g. M. & S.
do
do
March 1, 1980
Pensacola Div., 1st mort., gold...............
1,000
45 1880
600,000
do
do
6 g- M. & 8.
Mar. 1, 1920
Mobile & Montg. Div., 1st M., ($2,677,000)...!!!! 180 1881
1,000
Pledged.
6 g. M. & N. New York Agency,
May 1, 1931
Pensacola & Selma Div., IstM ., gold ($1,248,Oo6) 104 1881
1,000
Pledged.
6
M. & S.
do
do
Mar. 1, 1931
Pensa. & Atl., m. gold, guar., $1,000,000 pledged. 185 1881
1,000
2,000,000
6
F. & A. N. Y., Hanover Nat. Bk. Aug., 1921
The control of the company was sold to the “ Long Island Company,’
controlled by Mr. Austin Corbin and others, in Dec., 1880. In July,
1881, the stock was increased from $3,260,700 to $10,000,000, but the
terms of inert ^se and price realized on the additional stock have never
been made i ublic. In August, 1881, most of the holders of Smithtown & Port Jefferson bonds and N. Y. & Roekaway bonds agreed to
exchange their bonds for the consolidated mortgage, bearing 5 per cent.
No annual reports have been issued and the only information obtained
is from the statistics furnished the State Authorities. The road has been
much improved in its operat’g depart under the present management.
For the year ending Sept. 30, 1885, the annual statistics were in V.
41, p. 688. For the quarter ending Dec. 31. 1885, gross earnings were
$615,061, against $567,645; net earnings $222,406, against $194,469;
net income over interest, taxes and rentals $87,171, against $61,771.
The reports for four years made to the RR. Commissoners gave gross
earnings, &c., as follow s:
1881-82.
1882-83. 1883-84. 1884-85.
352
Miles operated.....................
354
354
Passengers carried, No....... 8,878,453 9,024,370 9,326,747
Freight (tons) m oved........ 386,260
416,153
448,963
Earnings and Expenses—
$
$
$
Passenger earnings............ 1,608,771 1,695,177 1,759,597 1,307,346
Freight earnings................. 634,698
718,743
727,623
720,630
Miscellaneous earnings___ 173,583
271,169
276,005
291,069
110; Junction to Lexington. 67: Louisville H. Cr. & W’port. in. g.) 11Selma to Pineapple, Ala., 39; Henderson to Nashville, 135; Junction
to Providence, 16; Pensacola extension, 29; total owned, 1.617 miles •
leased and controlled—Junction to Glasgow, Ky., 10; Nashville to’
Gfcatur, 119; Decatur to Montgomery, 183; Junction to Wetumpka, 6;
Junction to Shelbyville, 19; Louisville Transfer, 4; No. Div. Cumb. &
P „“ ’ . 2 7 K Lebanon to1 Greensburg, 30; Elkton to Guthrie, 10; total
leased and controlled, 409 miles; total operated June 30, 1885, 2,026
miles. Also owns the Richmond Branch (leased to Kentucky Central),
34 miles, and the Cecilian Branch (leased to Ches. O. & So W.j, 46 miles
nno+ nt,rols’ by ownership of a majority of the stock, the Nashville
^
Chattanooga & St. Louis RR., 580 miles; the Owensboro & Nashville. 84
mfies; the Pensacola & Atlantic. 161 miles; the Nashville & Florence
RR., 56 miles, and Birmingham Mineral Railroad, 11 mi'es; also, as joint
lessees with the Central of Georgia, is interested in the Georgia Railroad
and its auxiliaries, 679 miles.
Organization, L eases, &c.—The Louisville & Nashville was chartered
ik 183r°’ ai\ opened between Louisville and Nashville November,
d.
1859. The Memphis branch, completed in 1860, was operated in con
nection with the Memphis & Ohio and Memphis Clarksville & Louisville
roads, which were purchased by the L. & N. The other roads embraced
m the system have been purchased outright or are controlled absolutely
by ownership of a majority of the stock, except those under leases, as
above described. The liabilities for interest are treated mostly as
belonging directly to the Louisville & Nashville Company. The South
L Gross earnings.............. 2,417,057 2,685,089 2,756,232 2,826,478 east. & St. Louis RR., which was reorganized after foreclosure of the
Expenses and taxes.............1,576,774 1,683,814 1,859,505 1,795,252 St. Louis & Southeastern, Nov. 16,1880, is leased to the Louisville &
Nashville for 49 years, and the L. & N. issues its bonds as above,
896,727 1,031,226 secured on the road, about 210 miles long in Indiana and Illinois.
Net earnings................... 840.283 1,001,275
Lease rentals........................ 192,748
282,466
287,698 297,559 There is also $999,500 of S. E. & St. L. stock. The fiscal year of L.
Interest and sinking fund.. 200,757
209,059
190,876 207,922 & N. ends June 30. Annual election is held early in October.
Capital stock.......................10,000,000 10,000,000 10,000,002 10,000,000
Stock and B onds.—At the
of the fiscal year
Funded debt...........................4,169,926 5,394,019 5,712,080 5,513,205 capital stock was $9,059,361, closein Nov., 1880, the (June 30) 1880 the
and
stock dividend of
There are also Atlantic Avenue Improvement certificates, $28,875 at i ¿Q<?e
/v,cent was m ™ i'aisinp tlie amount to $18,133,513. In October,
d2’
real estate mortgage, $238,000, 5s and 7s; time loans, 1882, the company listed at the Stock Exchange $3,080,000 stock sold
$350,000, at 6 per cent. (V. 40, p. 305, 570; Y. 41, p, 162. 527 688
tae d ty of Louisville, raising the stock outstanding to $21,213,513,
639; Y. 42, p. 187,487.)
'
’ ^
and $3,786,48/m ore was then listed, raising the amount to $25,000,000. In Oct., 1884, the remaining $ >,000,000 unissued was offered to
A h S P S I,s l??l d , itT * F l u s h i n g .—Road from Long Island Citv to
C
Great Neck, 14 miles; branches, 8 miles; total, 22 miles. This is a reor- a syndicate at 2 2*2 with the $5,000,000 bonds at 55, raising the stock to
ganization of the Flushing & North Side road, foreclosed December 11. the full limit of $30,000,000. (See V. 39, p. 409. >
All the dividends paid since 1870 were as follows; In 1871, 7 per
*§?0. 4.
18 $500,000; par, $100. The income bonds are pay
able at will. The company is liable for $25,000 of New York & Flushing cent; in 1872, 7 per cent; in l8 7 3 ,7 p e r cent; in 1877, Ho per cent*
5 Per cent; in 1879, 4 ; in 1880, 8, and 100 per cent in stock ;
bonds, due 1920. Leased to Long Island RR. for 50 years, the lessee iu
“ ‘5 , 6 ° per cent of gross earnings and $17,500 for fixed charges. In in 1881, 6; in 1882, 3; nothing since.
Prices of the stock from 1872 to date have been: In 1873,
1883-84 gross earnings were about $213,000, of which 40 per cent to
a®40; in 1876, none; in 1877,
p Ä
Ä
; a o f 5 | 5!
Y
Ä
18.4-5, reaUl »116,537. Allred Sully, 50@ 79; in 1874, 53®59; in 1875, 361
26®41; m 3.878, 35®39; in I.879, 35®89iii; in 1880, 77® 174; in 1881.
L o s A n geles & San D ie g o .—
Florence to Santa Anna, Cal.. 27 79®110ia; m 1882,46*2®1003i ; in 1883,40Ss®58:ia; in 1884, 22!3®513g:
1885, 22®51%; in 1836, to April 16,
’
miles. Leased to Cent. Pac., and in 1884 the net earnings paid as rental inThe general mortgage of 1880 is for 3 6 % ® 4 5 ^ of which the bal
$20,000,000,
*?7o°8onr 1 Glias. Crocker, Pres., i QterJ?8t> &0 > $35,121. Capital stock, ance unissued is reserved to pay off prior liens, and the mortgage covers
D - w e^ a8 ,^33^ 74: San Francisco.
r
$570,800.
840 miles of road subject to such lieDS. The Louisv. & Nashv. LebanonL o u is ia n a W e s t e r n .—Owns from Lafayette, La., to Orange. Knoxvilie bonds of 1881 cover 110 miles, subject to prior liens, and 62
Texas, 112 miles, leases extension in Texas, 7 miles; total, 112 miles, miles from Livingston to State line as a first lien. The Pen. & Atlantio
operated under the same control as the Southern Pacific and Galveston is a separate company and the bonds are not a direct liability of the
S f £ ri®
bYrg & SauAntonio hues, making part of the through line between L. & N. Co., but principal and interest are guaranteed b v L. & N. A
New Orleans and Houston. For two months from Jan. 1 to Feb 28 «iulung fund begins Feb., 1889. The P. & A. has issued to the L. & N.
gross earnings were $96,402 in 1886, against $91,721 in 1885- net $1,000,000 land grant bonds pledged for advances to the P. & A.
The third mortgage trust deed of 1832 is made to E. H. Green and
t ^ m ? ’ against $44,291. Earnings in 1883, $602,120; net, $249 936
,’
as trustees, and
1 per cent
ih a ile s *«^Q n o8o/,706i net’ $216’%15. Surplus over interest and all John A. Stewartin February, 1885,has a sinking fund of redeemable
annually begun
the bonds drawn being
, GrosS earnings for year 1885 were $627,317- net
§343 445. StocK is $3,360,000. (V. 40, p. 61, 153, 305, 394 4 2 3 ’ at 110. The bonds are secured by pledge of a large amount of stocks
741; V. 41, p. ^3,134, 216, 357, 745; V. 42, p. 243.)
’ * ZS’ and bonds belonging to the Lo usvi.le & Nashville Company and
held as collateral security by the trustee of the mortgage. The
E v a n s v ille & St. L o u ls .-L in e of road. New Albany securities pledged were stated in detail in the Supplement up to the
Lid,, to Mt. Vernon, Ills., 182 miles; branches to Jasper & Gentryville 73 number for August, 1884, the par value of bonds beiug $9,633,000
mues; total, *o5 miles; opened for through business Oct., 1882 The and stocks $18,529,7JO ; total, $28,162,700. See estimate of actual
fo a d ie the reorganized Louisville New Albany & St. Louis, foreclosed value iu V. 41, p . 445 )
iS .i8Z8i?
° cfc’’ 1+v f consolidation was made with the Evansv RockThe 10-40 Adjustment mortgage bonds were issued in 1884, and
port & Eastern, with a total capital of $6,000,000. The first mort£a°e cover 783 miles of main line and branches, subject to the prior liens,
as above given, includes $900,000 of E. R. & E. 1st m ort^aS bonSs’ and are a second lien on the trust securities pledged under the trust
interest Januaiy and July, on which bonds interest was n ft funded’ deed of 1882. See V. 39, p. 409.
There are also $571,475 Car Trust certificates. In December 1884
The Henderson Bridge Co. bonds are not a liability of the L. & N. The
Geo. F. Evans, the General Manager, was appointed receiver JonasH bridge is owned by a separate company, with a stock of $ 1,000,000, of
French, President, Boston, Mass. The last plan of reoi^anizaR
which the L. & N. Co. holds $501,000; the Bridge Co. is guaranteed
in V. 41, p. 720, by which 1st mortgage bondholders^ v il! take Jew gross receipts of $200,000 per year by the several roads using it.
second mortgagebonds and a first mortgage of $2,000,000 to be issued
Operations , F inances, &c.—The Louisville & Nashville system hav
as a prior lien. See details of plan on p. 720. Foreclosure proceOdiuls
S®oUn m Nov., 1885. In x883-4 gross earnings were $668 898^~neb ing been developed in its present extensive form since 1879 has a short
history. The 100 per cent stock dividend declared in 1880 was made
$95,o05 ; rentals, $23,192; interest. $304,202 ; miscellaneous ’ «ofZ’
before the working and result of the newly-acquired roads could be
6I2.V2O ) ’ $252’ 546- (V- 40’ P- 28- 92l V. 41, p. 133, 33L 49J, ? 2 7 ! fully developed. The unfortunate financiering of 1883-84 led to the
charge of $1,005,929, against Mr. C. C. Baldwin, the late President, and
L o u isv ille & N ash v ille.—(See Map.)—L ise op R o a d —Main occasioned the embarrassment with floating debt in 1881.
i^ L o u is v ille to Nashville, 185. miles; branckes-JunctiontoBards
Gross earnings for eight months from July 1 to Feb. 28, in 1885-6,
town, Ky., 17; Junction to Livingston, Ky., 110; Livingston to Tel
Uc°. Ky , 61; Montgomery to MobUe, 179; New Orleans toM obiie 14P were $8,935,765, against $9.360,277 in 1884-5 ; net, $3,445,187, against
$3,979,994.
31, the net receipts were
T ^ H ^ n i0 Pputchartram, 5 ; Paris, Tenn., to Memphis, 259; East St! $2,758, 413 inFor the six mouths to Dec. 1884; fixed charges $2,075,1885, against $3,143,725 in
lud., 161; June., HI., to Shawneetown 111 41- 491, against $2,110,657; taxes $182,202, against $186,730; construc
FatUo11’ m ->§ : Pensacola, Fla., to Pensacola Junction’ tion account $146,427, against $! 14,678; surplus $354,293 for the six
Fla., 44 . branch to Muscogee dock, 1; Louisville, Ky., to Newport Ky
mmths in 1885, against $731,659 for same period in 1884.
9
A p r i l , 1886. J
.RAILROAD STOCKS AND
BOKDS.
5 5
7
56
RAILROAD STOCKS AR D
BORDS,
[V ol . X L II.
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered in these T ables,
DESCRIPTION.
INTEREST OR DIVIDENDS.
Size, or
Miles
Amount Rate per
Par
of
For explanation of column headings, &c., see notes of
When Where Payable, and by
Value. Outstanding
Road. Bonds
on first page of tables.
Cent. Payable
Whom.
Louisville <6 Nashville—{Continued)—
Louisv. Cin. & Lex., 1st m ort.........................
do
2d mort., coup., for $1,000,000
L. &N. mort. on L.C.&L., gold, $3,208,000 pldgd.
Car trust liens ($1,721 payable each m on th ).......
Oar liens, Louisv. Cin. & L e x .................................
Henderson Bridge Co., 1st mort., g o ld ............. .
Louisville New Aioany < Chicago—Stock.........
£
1st mortgage, coup, or reg.............................
2d mortgage, gold, coup, or reg..................
Consolidated mortgage (for $10,000,000).
Car Trust Certificates..................................
Louisville New Orleans & Terns—Stock........
1st mortgage, coup, or reg...........................
Income bonds (not cumulative)..................
Lykens Valley—Stock......................................
Mahoning Coal—Common stock....................
Preferred stock, guar, by L. S. & M. S.......
Maine Central—Stock..........................................
1st mortgage, consolidated..............................
Collateral trust bonds for Mt. Desert Branch
Sinking fund 10-20 gold bonds.......................
Bonds ($1,100,000 loan) A. &. K. R R ............
Extension bonds, 1870, gold............................
Maine Central loan for $1,100,000.................
European & North American (Bangor loan)..
Leeds & Farmington Railroad loan................
Androscoggin Railroad, Bath City loan.................
Portland & Kennebec, consolidated mortgage___
Manchester A Lawrence—Stock.........................
1867
1877
1881
1882
175
175
175
....
1881
471
288
158
446
520
455
455
455
21
43
43
43
482
304
41
55
18
109
56
36
30
71
26
1880
1881
1883
1886
1884
1884
1834
1872
1883
1385
1860-1
1870
1868
1869
1871
1866
1865
....
$1,000 $2,850,000
100 &c.
892,000
1,000
50,000
1,000
971,000
44,760
1,000
2,000,000
100
5,000,000
1,000
3,000,000
1,000
2,300,000
1,000
„ (»)
1,000
3,500,000
....
600,000
100
4,550,000
1,000 13,650,000
1,000
9,100,000
20
600,000
50
1.373,000
50
372,610
1,000
1,373,000
100
3,603,300
100 (fee. 4,175,900
444,000
1,000
600,000
100 &c.
1,100.000
500 &c.
496,500
100 &c.
756,800
500 &c.
1,000,000
100 <fcc.
633,000
100 &c.
425,000
100 &c.
1,166,700
100
1,000,000
The annual report for 1884-85 was in the Chronicle, V. 41, p.
240. The comparative statistics were as follows for the roads operated
as the Louisville & Nashville system proper.
BARKINGS AND EXPENSES.
1884-85.
1881-82.
1883-84.
1882-83.
2,026
Miles operated........
2,065
2,065
2,028
$
$
$
$
Total gross earnings 11,987,745 13,234,915 14,351,093 13,936,346
8,132,255
Oper’gex. (excl.tax.)
8,823,782
7,429,370
8,099,595
Net earnings. . . .
4,558.375
5,135,320
INCOME ACCOUNT.
1881-82.
1882-83.
$
$
4,824,816
5.270.091
5,527,311
7
J.
A.
7
6 g. M.
A.
6
Slocks—Last
Dividend.
&
&
&
&
J. N. Y., Drexel. M. & Co. Jan., 1897
O.
do
do
1907
N.
New York Agency
Nov. 1, 1931
O.
Philadelphia.
Oct. 1,1880-89
1886-88
New York.
6 g. M. & S.
Sept. 1, 1931
6
J. & J. N.Y.,Nat.Bk. Commerce
do
do
6 g. F. & A.
do
do
6 g. F. & A.
6
A. & O.
do
do
8
J. & D.
July 1, 1910
Aug. 1, 1911
Feb. 1, 1888
Jan. 1,1916
1892
5
6
2ifl
Sept. 1, 1934
Sept. 1, 1934
April 2,1886
213
5
3
5 &7
5
6 g.
6
6 g7
6
6
6
6
5
M. & S.
New York, Office.
August.
do
do
New York, Treasurer.
Q .-J .
J. & J.
F. & A.
A. & O.
J. & D.
F. & A
M’nthly
A. & Ö.
J. & J.
J. & J.
J. & J.
Q.—J.
A. & O.
M. & N.
N. Y. Union Tr. Co.
do
do
Boston, 2d Nat. Bank.
Bost., Am.Loan& Tr.Co.
Boston, 2d Nat. Bank.
do
do
do
do
do
do
Bost., Merch’ts’ Nat.Bk.
Boston, 2d Nat. Bank
do
do
do
do
Manchester and Boston.
Jan. 1, 1886
July 1. 1934
Aug. 15,1885
April 1, 1912
June 1,1923
Feb. 1,1905
1890 to 1891
Oct., 1900
July, 1898
Jan. 1, 1894
July, 1891
July, 1891
April 1, 1895
Nov. 2, 1885
of $1,700,000 used for building new road and for improvements. (See
V. 42, p. 365.)
Fiscal year ends Deo. 31. For 1884 and 1885 earnings, expenses and
charges were as follow s:
,,
1385,
1884.
Gross earnings...................................................... $1,680,454 $1,564,436
Operating expenses.............................................
1,332,936
1,365,144
Net earnings...................................................
Fixed charges.................................
$348,418
537,300
$199,292
537,300
5,754,091
Deficit..............................................................
$188,882
$338,008
Wm. Dowd, Pres’t, N.Y. (V. 40, p.3 6 3 ; V. 42, p. 125, 243,365,397.
1884-85. _ L o u isv ille N ew Orleans & T ex a s—(See map)—Line of road
Receipts—
$
Net income*.............
5,952,683 Memphis, Tenn., to New Orleans, La., 455 miles; Leland to Huntington,
Miss., 22 miles; Washington Co. branch, 34 miles—total owned, 511
Disbursements—
JJJ6S. Leased—
Port Hudson, La.,
miles; total operated,
Taxes.........................
379,845 H miles. This Clinton tobuilt in the interest 22 the Huntington system
309,238
339,409
309,450
road was
of
Rentals.....................
62,000
58,333 533
67,000
67,000
and
the
Interest on debt.......
4,026,543 of roads, from forms the connecting link in that system across was
3,705,823
4,053,224 4.207.223
Continent
Norfolk to San Francisco. The present company
Divid’s on L. & N., N.
The
&D.andM . & M ...
116,242 organized Sept. 5,1884. bondsroad was opened for through business Oct.
654,353
113,090
110,053
13, 1884.
are a first mortgage on 750,000 acres of
Georgia RR. deficit..
110,000
49,299 land in the The income The first mortgage bonds are issued at $30,000
11,000
Yazoo
Miscellaneous..........
5,854
7,542 per mile on the Delta. line and $20,000 per mile on the branch lines.
6,182
8,377
main
controlling interest in
Total disbursements. 4,847,268 4,575,868
4,716,145 4,637,806 The company owns aWilson, President, New the Mississippi & Tennessee
Railroad. Mr. R. T.
York. Gross earnings from
Balance, surplus. . . .
135.008
722,699
1,116,337 1,356,890 Jan. 1 to Feb. 28,1886, were $298,958, against $197.914 in 1885; net
$70,919, against $32,878. (V .4 0 ,p.363; V. 4 1 ,p.744; V. 42, p. 60, 339.)
* Including income from investments.
L y lce n s V a lle y .—Owns from Millersburg, Pa., to Williamstown,
Pa., 20 miles; branch, 1 mile; total operated, 21 miles. It is a
GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR.
coal
and operated by
Railroad since
1881-82.
1882-83.
1883-84.
1884-85. July,road leased previously by thethe Northern Central The lease is for
1880. and
Summit Branch RR.
Assets—
$
$
$
Road, equipment,&c. 61,593,923 67,385,426 67,776,064 67,930 ,874 999 years from March 1,1866, and the rental is $62,500 per annum.
M a h o n in g Coal R a ilro a d .—Andover to Youngstown, O., 38
Timber & quar. lands
763.638
715,773
688,024
689 ,941
Stocks owned..........
1,010,798 f8,565,852 t6,904,853
2,005 ,590 miles, and branches for ore and coal, 5 miles; total, 43 m. On July 1,
Bonds ow ned.........
1,164,338
1.940,623
4,050,673
4,249 861 1884, the road was leased in perpetuity to the Lake Shore & M. S. The
Stks&bds. held in tr’t 9,527,878 9,527,878
9,527 878 L. S. & M. So. guarantees the principal and interest of the 1st mortgage
9,527,878
Bills & acc’ts. receiv.
1,655,750
2,011,330
1,922,803
1,771 ,487 bonds, and guarantees 5 per cent per annum on the pref. stock.
Materials, fuel, &c..
1,419,279
833,112
762,273
726 ,624
M a in e C entral.—Mileage as follow s: Main line, Portland to Ban
Cash on hand.. . . ___ *1,238,517
242,929
297,316
404,714 gor, Me., via Augusta, 136 6 miles; branches, Cumberland Junction to
Bo. & No. Ala. R R ...
1.276.041
1,454,904 1,565,968
1,733 ,805 Skowhegan, 90-7 miles; Bath to Farmington, 71-2 miles; Crowley’s
Nash. & Dec. R R ___
504,121
573,044
603 ,250 Junction to Lewiston, 4-7 miles; total owned, 303-2 miles. Leased—
599,478
Other roads..............
676,159
921,690
1,172,928
1,567 ,793 Burnham Junction to Belfast, 33-1 miles; Newport Junction to Dexter,
Car trust funds........
469.639
14 m iles; Brewer Junction to Bucksport, 18-1 miles; Bangoi to VanceLou. & Knox.Exten.
1.114.041
boro, 114-1 miles; Penobscot Switch to Mt. Desert Ferry, 41-7 miian ;
C. C. Baldwin acc’tj.
1,005,929
850 ,809 total leased, 221 miles. Total operated, 527-2 miles.
Sinking fund.............
50,000
50,000
50,000
50 ,000
This was a consolidation in 1862 of the Androscoggin & Kennebec
Profit and loss..........
............
2,479 ,344 Railroad and the Penobscot & Kennebec. In August, 1873, the Port
land & Kennebec, Somerset & Kennebec and Leeds & Farmington rail
Total assets........ 82,464,122 94,222,561 96,324,187 94,591,970 roads were also consolidated with the Maine Central. Gross earnings for
Liabilities—
Jan., 1886, $187,127, against $183,194; net $35,639, against $36,477.
Stock......................... 18,133,513 30,000,000 30,000,000 30,000,000
The annual report was published in Y. 41, p. 686. The ending of
B’nds (see Sup’ ment) 58,087,778 57.903,230 57,530,712 61,958,314 the fiscal year was changed in 1881 from Dec. 31 to Sept. 30. The
Louisville bon d s....
850.000
850,000
850,000
850,000 report had the following:
Debentures...............
605.000
567,400
529,800
FISCAL RESULTS.
Bills payable............
592,729
526,558
189.279
3,599,266
Earnings—
1881-82.
1882-3.
1883-4.
1884-5.
Interest.....................
430,716
445,359
499,435 Passenger.................
475,759
$895,989 $1,147,207 $1,197,413 $1,190,074
Pensa. & At. R R ___
1,205,707
Freight......................
1,067,716
1,541,961
1,475,845
1,502,458
Miscellaneous..........
66,877
36,094
34,933
34,774 Mail, express, & c...
113,389
146,326
143,115
147,247
All other dues & ae’ts
1,714,301
1,130,936 1,236,152
1,060,168
Profit and loss..........
777,501
2,762,984 2,067,565
Total gross earnings $2,077,094 $2,835,494 $2,816,373 $2,839,779
Expenses and taxes.
1,359,373 1,839,707
1,750,710
1,730,902
Total liabilities.. 82,464,122 94,222,561 96,324,187 94,591,970
1883-84.
$
5.800.144
Net earnings.......
$717,721
$995,787 $1,065,663 $1,108,877
* Including balance due for trust bonds.
INCOME ACCOUNT
t Included $5,000,000 L. & N. stock unissued.
t The company claimed that Mr. Baldwin was indebted to it in this sum.
Receipts—
1881-82.
1882-83
1883-84.
1884-85.
—(V. 40, p. 28, 61,120, 182. 281, 304, 338, 424, 508, 542, 625, 652, Net earnings............
$717,721
$995,787 $1,065,663 $1,108,877
684; V. 41, p. 23, 51,161, 215, 229, 2 4 0 , 254, 273, 392, 420, 445, 446 Other receipts..........
5,368
29,121
10,421
7,828
494, 527, 653; V. 42, p. 60,155,187, 215, 304, 430.1
Total income___
$723,089 $1,024,908 $1,076,084 $1,116,705
L o u isv ille N e w A lb a n y & C hicago.—Operates fromNew Albany,
Disbursements—
Ind (opposite Louisville, Ky.), to Michigan City, Ind., 289 miles; How Rentals paid............
$54,000
$182,958
$189,000
$189,000
land Junctiou to Hammond, Ind., 1 6 0 miles; Bedford, Ind., to Switz Interest on bonds...
569,542
644,146
661,395
701,767
City, 42 miles; total owned, 491 m iles; leased—Hammond to Chicago Dividends.................
71,822
197,522
215,532
215,541
20 miles; Howland’s Junction to Indianapolis, 4 miles; New Albany to
Louisville, 5 miles; total leased, 29 miles; total operated, 520 miles. A
Total disburse’s
$695,364 $1,024,626 $1,065,927 $1,106,308
lease for 999 years with Chicago < Western Indiana at $127,000 per
fc
$27,725
$282
$10,157
$10,397
year gives entrance to Chicago. In Feb., 1886, purchased the Bedford Balance................ .
- ( V . 40, p. 61, 717; V. 41, p. 445, 527, 549, 6 8 6 ; V. 42, p. 365.)
< Bloomfield RR., 43 miles, to stone quarries.
fc
The Louisville New Albany & Chicago was opened in 1852 and sold
M anchester & L a w ren ce.—Owns from Manchester, N. H., to
in foreclosure Dec. 27, 1872, and reorganized without any bonded debt. Methuen (State Line), 22^4 miles; leased, Methuen Branch of the
In Aug., 1881, consolidated with Chicago & Ind. Air Line, and stock Boston & Maine Railroad, 3% miles; total operated, 26 miles. Road in
increased to $5,000,000, giving 15 per cent increase to stockholders of operation since 1849. Formerly operated with the Concord RR.
record Aug. 31. In 1880 the company sold the $3,000,000 of first mort as one line, on a division of joint earnings. Methuen branch is
gage bonds to the stockholders at 20 cents on the dollar.
leased at a rental of $11,000 per annum. Company lays claim to a twoThe consolidated bonds of 1886 were made for the authorized amount dfths interest in the Manchester & North Weare RR., which is operated
o f $10,000,000, of which $5,300,000 was reserved for the prior first by Concord RR. Ten per cent dividends are paid. The fiscal year ends
mortgages, $3,000,000 used to exchange for 2d mortgage bonds of March 31. Gross earnings in 1883-84, $183,086; net, $100,667. In
1883 and general mortgage bonds of 1884 outstanding, and the balance 1884-5, gross, $174.578 ; net, $100,809.
BONDS.
STOCKS A N D
RAILROAD
A p r i l , 18 86.]
58
RAILROAD
STOCKS AND BONDS.
[T ol. X L II.
Subscribers w ill c. mfcr a great favor by giv in g im m ediate notice ot any error discovered in these Tables
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount
For explanation of column headings, &c., see notes of
Par
of
Outstanding Rate per When Where Payable, and by
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Manhattan (Elev)—Consol, stock, ($26,000,000)___
__
$100 $24,270,400
36
1
Q .-J . N. Y., Mercantile Tr.Co
Metropolitan Elevated, 1st mortgage....................
1,000 10,818,000
14 1878
6
J. & J.
do
do
do
2d M. (guar, by Manhat’n).
1.000
18 1879
4.000,000
M. & N.
6
do
do
N. Y. Elevated, 1st M. (payable at 105 after 1896)
1,000
18 1876
8,500,000
7
J. & J.
do
Debentures....................................
1886
1,000,000
Marquette R. <t O.—Common stock ............................
io o
Í6Ó
3,398,100
4
Preferred stock..........................................................
100
160
2,259,026
3
F. & A.
1st mort., M.& O., co u p ...........................................
50 1872 100 &c.
1,427,500
8
J. & D. Boston, N. Eng. Tr. Co.
M. H. & O. mortgage.................................................
1,000
90 1878
576,200
6
M. & 8 .
dò
~ do
Bonds for Extension, &c..........................................
1,000
1883
1,213,000
6
J. & D.
M. H. & 0 . 1st mortg. on Mar. & West...................
1,000
1885
1,400,000
A. & O.
6
Memphis <6 Charleston—Stock.....................................
25
328
5,312,725
1st & 2d. mort. extension bonds, Ala. & Miss. Div. 181 1854
....
2,155,000
7
J. & J. N.Y.,W. H. Brown&Bros
2d mortgage, extended.............................................
...
1867
105,000
7
J. & J.
Consol, mort., gold (1st lien on 91 m. in Tenn.)___ 292 1877
1,000
1,400,000
7 g. J. & J. N.Y.,W.H. Brown&Bros
Consol, mortgage, gold.................................. .......... 292 1877
1,000
864,000
7 g. J. & J.
General mortg., gold................................................
1,000
292 1884
1,00(',000
« e. J. & J.
New York, Agency.
Memphis < Little Rk.—1st preference mortgage___ 133 1877 l,000&c
&
250,000
8
M. & N. Last paid May71882.
General mort., land grant, (s. f. $10,000)............... 133 1877 250 &o
2,600,000
8
J. & J
Mexican Central (Mexico.)—1st mort., reg., gold
1,000 36,874,000
1,340 1881
4 & 7 g. J. & J.
Boston.
1,000
Income bonds, conv., not cumulative, reg.............
8,128,(00
3
July 1
Coupon notes for interest funded...........................
1884 100, &0.
3,840,000
10
J. & J.
Debentures (secured by collateral) (V. 39, p. 733)
1,000
1885
2,500,000
10
Mexican National Railway (Mexico).—1st M., gold..
’81-’82 1,000 24,330,000
6 g. A. & 0. Last paid, Oct., 1883.
2d moit. debentures (incom e)...............................
1884 l.OOO&c 13.437,000
5
April.
Michigan Central—Stock............................................. 1,468
....
100 18,738,204
3
F.
A. Grand Central Depot.
Consolidated mortgage ($2,000,000 are 5s).......... 270 1872
1,000 10,000,000
7 & 5 M. & N. N. Y., Union Trust Co.
M. C. Michigan Air lin e mortgage.. . . . . .
1,000
103 1870
1,900,000
8
J. & J.
1.000
Michigan Air Line 1st mort., assumed by M. C___
10 1870
200.000
8
M. & N.
M. C. bonds, mort. on Grand River Valley RR. ..
1,000
82 1879
500,000
6
M. & S.
Kalamazoo & South Haven, 1st mort., guar........
1,000
1869
39
640.000
8
M. & N.
do
do
2d mort., guar.........
1,000
39 1870
70,000
8
M. & N.
Grand River Valley, stock, guar.............................
100
84
....
491,200
2ia J. & J.
do
do
Bonds—Prinoi •
pal, When due
Slocks—Last
Dividend.
A p r ili, 1886
July. 1908
Nov. 1, 1899
Jan. 1, 1906
In 1883
Feb. 15,1886
June 1, 1892
Mar. 1. 1908
June 1, 1923
April 1, 1925
J a n .1. 1915
1915
Jan. 1, 1916
Jan. 1, 1916
Jan. 1, 1924
May, 1883-84
July, 19076
July 1, 1911
July 1, 1911
July 1, 1889
April 1, 1895
July 1,1912
Jan. 1, 1974
Feb. 1. 1884
May 1,1902
Jan. 1,1890
Nov. 1, 1890
1909
Nov. 1, 1889
Nov. 1. 1890
Jan., 1886
M a n h a tta n E leva ted .—Road operated, 32-39 miles. This was a appointed, but in August, 1884, receiver discharged and the property
corporation formed (Nov. 24,1875) to lease and operate the two elevated placed in hands of trustees of the general mortgage. Trustees paid the
railroads in New York City. Its capital stock was $13,000,000, and January and July, 1885, coupons on general mortgage, and Jan., 1886,
It was to pay the interest on the bonds of the two elevated roads ï ? Q 0n ’ai)l1 . I s Proposed to fund the unpaid coupons prior to January,
K
and certain dividends. The original lease of May 20,1879, guaranteed j?5?* i A ' 1
$250,000 is in possession of the Court awaiting result
10 per cent per annum on the stocks, but this lease was amended in of the litig"**—
— m U a'
................
n
October, 1881, by agreements among the three companies, which were
supplemented by an agreement of Nov. 14, 1881, for the surrender of
the stocks of the other companies, and the issue of new stocks by the
Manhattan Company, but this was never accepted by the Metropolitan
stockholders, and, after litigation, it was decided against the Manhattan
Central (M e x ico ).—On Dec. 31, ’85, the mileage was—
In June, 1884, a new compromise agreement was made and afterward Main line from Mexico City north, to El Paso del Norte 1,225 miles,
ratified by the stockholders of the three companies by which all liabili 103 miles on Tampico Division, 11 miles of Guanajuato Branch, and 16
ties were assumed, and new stock was issued by the Manhattan Com miles on the Pacific Division, had also been built, and a short branch 7
pany to the holders of stocks in the other companies, viz: For Manhat
mt810 stone quarry, making a total of 1,361 miles.
tan. 85 per cent in new stock; for New York, 120 per cent; for Metro .\ue company was incorporated Feb. 25,1880, under the general law
politan, 110 per cent.
9? Massachusetts, and by transfer the company holds the charter from
There are large claims pending against the elevated roads for damage the Mexican Government, granted Deo. 5,1874, for a road from Mexico
city to Leon, and by modification including lines to Paso del Norte,
to property on their lines, and many of these are before the courts.
In 1886 the debentures of the New York Elevated were issued for wuaaalajara and Laredo. The company also has other rights granted
57
prate of Chihuahua. The company has a subsidy from
new equipment, Ac.
For the quarter ending Dec. 31, gross earnings were $1,818,199 in rue Mexican Government of $15,200 per mile on most of the lines,
which the Mexican Goverment issues to the Co. as the road is accepted,
1885, against $1,750,8(2 in 1884; net, $895,4t0, against $847,262;
in certificates of construction of the Central R’y, to be redeemed with
Burplus over interest, rentals and taxes. $435,946, against $427,573.
b per cent of all duties produced at the maritime and frontier custom
The jeport for year ending Sept. 30 showed the following income:
houses of the Republic.” In July. 1885, the Mexican Government
1883-4.
1884-5.
stopped paying all subsidies, owing to its embarrassment. The
Gross earnings......................................................$6,726,359
$7,000,567 jucome bonds are convertible into stock at par. The stock is
Operating expenses............................................. 3,881,949
3.967,983 <puO)l70,900.
Net earnings............................................... $2,841,410
$3,032,584
In June, 1884, it was decided to pass the interest due July 1, and to
Interest on bonds, and rentals.......................... 1,381,713
1,459,043 ask bondholders to fund three coupons July 1, 1884, to July 1,1885, in$1,573,541 ciusive, amounting to $3,840,375, for which 10 per cent coupon notes
Balance.................................
$1,459,697
Deduct dividends................................................. 1,170,000
1,560,000 maturing m five years were offered, secured by deposit of the coupons,
and by an amount of Mex. Gov’t subsidy certificates equal to the prin
Surplus............................................................ $¿89,697
$13,541 cipal and mt. of the coupon notes. The total amount ot 1st mort. bonds
The following is a statement of the number of passengers carried on issued stood Dec. 31, 16 85, at $42,850,000, of which $5,976,000
the elevated railroads in New York, and the gross earnings, since the wei e in hands of company or trustees, including $2,500,000 deposited as
eompletion of the roads
collateral for the debenture bonds.
Passengers. Earnings.
Passengers. Ea minas.
In Dec., 1885, it was proposed to reduce the interest on 1st mortgage
1878- 79.. 46,045,181 $3,526,&25 188283.. 92,124,943
$6.386,506 to 4 r er cent, with an agreement to pay the remaining 3
bonds
187980.. 60,831,757
4,612,976 1883-84.. 96,702,620 6,723.832 per cent in any year when earned, but not to be cumulative, ana a
188081.. 75,585,778
5,311,076 1884-85 103,354,729 7,00c,566 large proportion of the first mortgage bondholders have assented to
188182.. 86,361,029
5,973,633
this arrangement and exchanged their 7 per cent coupons for a sheet of
At the annual meeting in November, 1885, the following directors were 4 per cents. See V. 41, p. 721.
Gross earnings in Jan., 1886, were $316,874, against $318,931 in
elected; Jay Gonld, R. M. Gallaway, Russell Sage, Chester W. ( hapin,
Sidney Dillon, Edward M. Field, J. Pierpont Morgan, Cyrus W. Field, 1885; net, $109,344, against $157,753.
The annual report for 1885 was in V. 42, p. 461. The income account,
John H. Hall, George J. Gould, Samuel Sloan, Simon Wormser, S. V.
White. (V. 40, p. 61, 241, 337, 597,652,685; V. 41, p.420, 556, 654; V. exclusive of subsidy, was:
42, p.243, 272.)
EARNINGS AND EXPENSES.
RECEIPTS AND DISBURSEMENTS.
M arquette H o u g h to n Sc O n to n ag on .—Owns from Marquette Passenger earnings___ $1,100,269 Net eam’s (U. 8. cur.) ..$1,308,395
Freight earnings........... 2,287,410
Deduct—
Mich., to Houghton, 95 miles; branches, 65 miles; total operated, 160
171,882 ExpensesinMassachu’ts
89,981
Utiles. Has a land grant of about 80,000 acres. This was a consolidation Miscellaneous................
Int. on notes of 1 8 8 9....
384,027
Aug. 22,1872, of the Marq. & Ont. R’y and the Houghton & Ontonagon
T o t a l........................ .$3,559,561 6 mos.int. IstM . (2p c.)
731,480
Railway, and m 1883 consolidated with Houghton & L’Anse Railroad
187,500
and completed the extension irom L’Anse to Houghton. In March, 1885, Operating expenses___ 2,033,100 Int. on debent’s (9 mos.).
Miscellaneous interest..
32,590
purchased the Marquette & West, road, 27 miles, and issued therefor the
above $1,400,000 bonds and $600,000 of common stock. The business Net earn’s., Mex. eur’cy.$l,526,4 61
Total disbursements. .$1,425,578
consists largely of the transportation of iron ore, The annual report Net in U. 8. currency.. $l,3t 8,395
for 1884-5 was published in V. 40, p. 715, and the income account
Deficit for year............... $117,183
showed a surplus of $141,634 over interest payments and 2% per cent
The net subsidy collections for the year 1885, in United 8tates cur
dividends on pref. stock. Gross earnings in 1885 $819,198; net, $330,- rency, were $590,352; total subsidy collected to Dec. 31, 1885, in U. 8.
290. (V. 40, p. 304, 542, 684, 7 15.)
currency, $3.119,393.
M e m p h is Sc C h a r le s t o n .—(See Map o f East Tennessee Vir —(V. 40, p. 269, 356, 4 5 1 ,4 5 4 .7 4 1 , 763; V, 41, p. 51, 76,161, 189, 241,
ainia & Georgia).—Owns from Memphis to Stevenson, Ala., 272 miles! 330, 392, 420, 446, 585, 653, 721; V. 42. p. 60, 93,125, 155, 215, 272
»ranches—to Somerville 13 miles, to Florence 5 miles; leased, Steven ’ 431, 4 6 1 , 463.)
son to Chattanooga, 40 miles; total operated, 330 miles. This road was
M exican N ational R a ilw a y (M e x .)—Jan.,1885, road built from
leased June 2,1877, to the East Tennessee Virginia & Georgia Rail Corpus Christi to Laredo (Texas & Mexican RR.), 161 miles; Laredo to
road for twenty years from July 1, 1877. Of the consolidated mort Saltillo, 235 miles; Matamoros Div., 76 miles; branches, 22 miles; total
age, $1,400,000 are secured by the old Tennessee State lien for $1,736,- Northern Division, 494 miles; City of Mexico to Morelia, 235 miles;
06, assigned to a trustee, and thus stand higher in value.
Acambaro to San Miguel. 76 miles; El Salto line, 51 miles; Manzanillo
In Sept., 1883, a large block of the stock was obtained by parties inter to Armeria. 29 miles; branches, 25 miles; total Southern Div., 416 miles;
ested in the East Tennessee Virginia & Georgia RR., and in Sept., total road finished, 910 miles, leaving a gap of 362 miles to be completed
1885, this and enough more to make a majority was put in the Central to connect the Northern and Southern divisions. Built by the Mex. Nat.
Trust Co. for the E. T. V. & G. Co.
Construction Co., which received a subsidy of $11,270 per mile of road,
For eight months from July 1 to Feb. 28, gross earnings were $949.- secured by 6 per cent of the Government receipts from customs. In
922 in 1885 86, against $1,016,094 in 1884-85; net, $302,095, against July, 18«5, sub idy payments were suspended.
Stock is $25,$224,072.
875,000; par of shares, $100. Coupons on and after April 1,1884, were
For the year ending Junte 30,1885, gross earnings were $1,384,906 ; passed. In Oct., 1885, a circular to bondholders proposed funding nine
aet, $268,263; against $1,394,019 gross and $435,911 net in 1883-4 coupons, April, 1884, to July, 1888 inclusive, and to permit the com
—(V. 40, p. 61, 363, 394, 508,684; V .41,p. 155,189, 241, 356, 495, 585, pany to issue its preferred mortgage bonds on the whole road at $10,000
« 1 1 , 612; V. 42, p. 60,125, 155, 304, 339, 430.)
per mile. Of the bonds $19.330,000 have interest April & Oct., and
& J. The
were issued in
M e m p h is Sc L ittle R o c k .—Owns from Little Rock, Ark., to Mem $5,000.000 J. acquisitions,second mortgage debentures nine 1st mort
1884, for new
&c., and into these bonds
phis, Tenn., 135 miles. Default was made Nov., 1872, and the property gage coupons are funded ; interest on the debenturesthepayable only if
is
sold in foreclosure. The new company also defaulted, and the roaa was
and is not
Jan. 1,
■old and reorganized April 28, 1877. The stock is $1,500,000. The earnedgross earnings cumulative. For nine months fromnet, $180,1885,
were
company had a land giant from Congress of 1,000,000 acres. In April 294, against $95,703. W. $999,071, against $1,027,059;
J. Palmer, President, New York. (V. 41, p.
1880, control of this company was purchased by parties in the interest 215, 241, 392, 420, 585, 612; V. 42, p. 304.)
of the St. Louis & Iron Mountain. Afterward default was made on
he coupons and bondholders were offered a 6 per cent bond in place
M ic h ig a n C e n tr a l.—Line op R oad .—Main line—Kensington to
of the 8 per cents, which was declined. In April, 1884, a receiver was Detroit, z70 miles; and Windsor to Suspension Bridge (Can. So.), 226
f
A p r il
1886 ]
RAILROAD
STOCKS .AND RONDS
59
Subscribers w ill confer a great favor by giv in g Im m ediate notice of any error discovered in tbese Tables.
1
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or
pal.^When Due.
Amount
of
Par Outstanding Rate per When Where Payable, and by Stocks- Last
For explanation of column headings, &c., see notes of
Cent. Payable
Road. Bonds Value.
Whom.
on first page of tables.
Dividend.
Michigan Central—
(Continued)—
G.R.Val .lst M.,gu.
Detroit & Bay City 1st mortgage, endorsed..........
M. C. mort. oh Detroit & Bay City Railroad..........
Jackson, Lansing & Saginaw, consol, mort..........
do
do
do
............
Michigan d Ohio—1st mortgage, gold.......................
k
Middletown Unionville < Water Gap—1st mortgage.
£
do
do
2d mort. guar................
Milw. Lake Shore A West—Consol, mort., gold..........
Income bonds (not cumulative)..............................
Equipment bo n d s......................................................
Michigan Div., 1st mortg , gold (for $3,000,090)..
Ashland Division, 1st mortgage, gold....................
St. Paul Eastern Grand Trunk, 1st mort., gold—
Milwaukee
dLake
k
Winnebago—1st mortgage, gold.
Milwaukee dNorthern—1st mortgage.......................
k
Bonds for $3,000,000 ($2,155.000 are reserved)..
Mine Hill d Schuylkill Haven—Stock.........................
k
1st mort (for $200,000) coup..................................
1st mort., gold, on branch and extension............
Minneapolis d St. L.—1st M., Min. to Merriam June.
k
1st mortgage, Merriam Junction to State Line ..
1st mortg..“Minneapolis to White B. Lake, guar..
1st mortgage, gold, coup. (Al. Lea to Fort Dodge)
Irnprov. and equip, m., 1st series, coup.................
Mortgage on Southwestern extension...................
2d. bdsi, inc., 5«fe lOyrs. (White Bear to Ft. Dodge)
1st mortgage, gold, Pacific E xtension..................
Wis. Mihh.ifc Pacific. -1st m ortg...........................
84 1866 $1,000
145 1872-3
....
1,000
145 1881
1,000
236 1871
1,000
298 1880
154 1883
1,000
1,000
13 1866
....
1871
....
346 1881
.
1,000
1881
1882
1.000
1,000
75 1834
1,000
40 1885
1,000
56 1883
1,000
1835
65 1882
1882
1,000
1,000
1834
126 1880
1,000
1884
1,000
137
50
100
12 h; 1873
413 1885 100 &c.
1,000
27 1877
1,000
93 1877
15 1877 500 &c.
1.000
102 1879
1.000
360 1882
1,000
53 1880
1,000
172 1880
1,000
92 1881
1.000
205 1884
miles; total main line. 496 miles. Branches owned and leased—Mich.
Air Line RR., 115; Jol. & No. Ind., 45; Grand River Valley, 84; Jack.
Lan. & Sag., 295; Kal. & So. Hav., 40 : Det. & Bay City, 151; Sag. Bay
&No. W .,5 5 ; Tol. Can. So.& D et., 56; Can. So. Br. Co., 4 ; Mich. Mid.
& Can., 15; Canada So branches, 99 ; Sarnia Chat. & Erie, 7 ; Erie &
Niagara, 31; total branches 994 miles; total operated, l,4 9 l miles.
There are 121 miles of second track and 515 miles of side tracks.
O rganization, L eases, &o.—The Michigan Central was chartered in
1846 and purchased of the State of Michigan 144 miles of com
pleted road and completed the whole line, Detroit to Kensington, in
1852. The Detroit & Bay City road was foreclosed Feb. 12,1881, and
purchased for the Michigan Central, which leased it and put a mortg age
on the road. The other lines described above as leased are all held by
the Michigan Central nominally under leases at fixed rentals, but are
practically owned. The land grant came from the Jackson Lansing &
Baginaw company as stated below. In Nov., 1882, a close contract was
made with Canada Southern for working its road by the Michigan Cen
tral and the division oi net profits over all charges—one-third to Uanada
Southern and two-thirds to Michigan Central.
Stocks and B onds—The Michigan Central stock has remained at the
same amount since 1873. Prior to 1873 it was a regular 10 per cent
Stock. In 18 72-73 paid. 5 per cent and 4 in scrip, but afterward paid
no dividend till 1878, and since then irregular amounts. Since 1870
dividends have been: In 1870-71, 10 per cen t; 1871-72,10; 1872-73,
5 and 4 in scrip; in 1878, 2; in 1879, 3 ^ ; in 1880, 8; in 1881, 6*2 \ in
1882, none paid; in 1883,5 ; in 1884. 3; in 1 8 '5 , nil. The range in prices
o f the stock has been as follows: In 1871,114®126; in 1872,113® 120;
in 1873. 65®111; in 1874, 681
a@95ia; in 1875, 53®824i; in 1876,
34^8®65*2; in 1877, 355s©74*4, in 1878, 581 75; in 1879, 73%®98;
a®
in 1880. 75®130ia; in 1881, 84%®120; in 1882, 77®105; in 1883.
77®100ie; in 1834, 51%®94ia; in 1885, 46V ® 79% ; in 1886, to April
16, 64®8®76%:.
The Jackson Lansing & Saginaw i’ ebt is assumed by Michigan Central,
which also pays $70,000 per year on the stock of $2,000,000; the pro
ceeds of J. L. & S. lands go to pay bonds, and in 1884 sales amounted
to 3,872 acres, leaving 317,126 acres unsold, and land notes on hand,
$396,037.
Operations, F inances, &c.—The Michigan Central paid 10 per cent
dividends regularly till 1873, but becoming liable after ward for heavy
obligations on leased lines, the company suspended dividends. The
road on through business is much affected by the competition between
Chicago and points eastward, and by the rates on through freights.
An article in the Chronicle, Vol. 37, p. 708, gave an exhibit of the
earnings of the Michigan Central and the Canada Southern for six years
past, and the surplus yearly applicable to dividends.
The statement for 1885, December partly estimated, was in V. 42. p.
22, as follow s:
1885.
1884.
Actual.
Estimated.
$11,659,077
Gross earnings............................................$10,750,000
8,959,132
Operating expenses ................................... 8,005,000
$1.000,000
424,000
3,576,000
1 943,000
1,100,000
2,630,000
150,000
250,000
4,350,000
500.000
535,000
1,112,000
1,000,000
921,000
300,000
1,430,000
520,000
100,000
2,155,000
1,598,000
4,081,900
128,000
160,900
100,000
455,000
950,000
280,000
1,015,000
2,000,000
636,000
500.000
1,382,000
3,080,000 1
8
J. & J. N. Y., Union Trust Co. July 1, 1886
M. & N.
8
do
do
May 1,1902-3
5
M. & S.
do
do
Mar. 1, 1931
8
M. & S.
do
do
Sept. 1, 1891
6
M. & S.
do
do
Sept. 1, 1891
6 g. M. & N.
None overpaid.
Nov. 1, 1923
M. < N. N. Y., N. Y. Susq. & W.
fc
1886
1
5 s ■ J. & D.
do
do
1896
6 g- M. & N. N.Y., N. Bk. of Com’rce May 1, 1921
6
M. & N.
do
do
May 1, 1911
J. & J. N. Y., S. S. Sands & Co.
8
1892
6 g. J. & J. N. Y. Bk, of Commerce July 1, 1924
6 g- M. & S. N. Y. Bk. of Commerce Mar. 1 ,1 9 2 5
Jan., 1913
6 g. J. & J. N. Y., S. S. Sands & Co.
7
J. & D.
1888
J. & J. Boston and New York. July 1, 1912“
6 g5 g.
July 1, 1912
April 1, 1904
6 g. A. & O.
6
J. & D. N.Y.,Merch.Exch.N.Bk June 1, 1910
6
J. & D.
New York City.
June 1, 1913
3*2 J. & J. Phila.M.H. & S. H. R.Co. Jan. 15, 1886
N. Y., H. S. Ives & Co, April 5,1886
Q.—J. [
2*2
J. & D.
8
do
do
June, 1888
5
A. & 0.
do
do
Oct. 1, 1915
J •N.Y., Continental N.Bk. Jan. 1, 1907
7 g. J.
do
do
June 1, 1927
7 g. J. & D.
do
do
Jan. 1, 1907
7 g. M. & N.
fe
do
do
June 1, 1909
7 g. J. < i),
6
J. & J.
do
do
July 1, 1922
J & D.
New York.
7
Dec. 1, 1910
7
J. < J. N.Y., Continental N.Bk.
fc
1890
6 g. A. & O.
do
do
April 1, 1921
A. & O.
New York, Office.
6
Oct. 1, 1934
M ich ig a n & O h io .—Road completed Nov., 1883, from Allegan,
Mich., to Dundee, Mich., 154 miles, using the tracks of the Toledo Ann
Arbor & Grand Trunk, 22 miles, to Toledo, O. It was constructed hy
a New York syndicate, and each subscription of $16,500 in cash re
ceived $15,000 1st mortgage bonds, 150 of preferred and 250 shares
common stock. Bonds issued at $15,000 per mile. Stock is $2,500,000
pref. and $3,750,000 com. In Nov., 1884, the interest on the bonds
was passed and a receiver appointed. In Dec., 1885, decree of foreclos
ure was rendered. (V.41,p. 392, 688.)
M id d le to w n U n io n v ille & W a te r G ap .—Owns from Mid
dletown, N. Y., to Unionville, N. J. State Line, 13 miles. Is controlled
by N. Y. Sus. & West, by ownership of stock. Formerly leased to the Mid.
of New Jersey and bonds guaranteed. Gross earnings in 1883-84,
$40,289; net, $1.5,340. Stock, $149,850.
M ilw a u k ee L a k e Shore & W e ste r n .—From Milwaukee, Wis.,
to Ashland, Wis., 391 miles, of which 4 miles are leased; branches—
Horton ville to Oshkosh, 23 miles; Manitowoc to Two Rivers, 6 miles;
Eland June, to Wausau, 23 miles ; Antigo to Malcolm, 11 miles ; Monico
to Rhinelander, 16 miles; Clintonville to Oconto, 56 miles; branch to
mines, 7 miles ; total operated, 533 miles. This company was organized
in 1876 as successor to the former company foreclosed in 1875. The
company has $5,000,000 preferred stock; and $1,900,000 common
stock issued out of $5,000,000 authorized. Preferred stock has a pref
erence to the extent of 7 per cent from net earnings. The annual
report for 1885 was given in V. 42, p. 241. In 1885, gross receipts
$1.374,807; net, $130,417; interest and rentals, $366,845. In 1884,
gross receipts were $1.116,378; net, $372,555; interest, $285,444;
surplus, $85,913. (V. 40, p. 28, 61, 4 5 1 ; V. 41, p. 685; V. 42, p. 2 4 1 .)
M ilw a u k ee & L a k e W in n e b a g o . — Owns from Neenah to
Schleisingerville, Wis. Built in 1882 and leased for 99 years to Wiscon
sin Central at 37*2 per cent of gross earnings as rental; but after
$175,000 per year is received the balance of net earnings is to be equally
divided. The $1,000 000 debentures were authorized to be issued as
required for improvements, and they are convertible cn any coupon day
into preferred stock; the lessee pays interest on them till 1894. Pref.
stock, 6 per cent cumulative, $780,000; common stock, $520,000; par
of shares, $100.
M ilw a u k e e & N orth ern .—Owns from Green Bay, Wis., to
Schwartzburg, Wis., 104 miles; branches—Menasha and Appleton to
Hillbert,Wis., Wisconsin & Michigan Railroad, Green Bay to Pike River,
and Mariuette branch ; total operated, 219 miles. Contracts for use of
Chic. M. &8t. P. track, 9 miles,into Milwaukee. The stock is $2,155,000.
On June 5,1880, foreclosure was made and road sold for $1,500.000. It
was leased to Wisconsin Cent, till Aug., 1882. Gross earnings in 1883-4,
$511,982; net, $165,636; fixed charges, $149,120 ; surplus, $32,823.
Gross earnings in 1884-5, $541,203 ; net, $157,566; rentals, taxes and
interest, $153,186; surplus for year, $4,38ü. (V. 41, p. 307.)
M in e H i ll & S c h u y lk ill H a v e n .—Owns from Schuylkill Haven,
Pa., to Locust Gap, Pa., with branches, 137*2 miles Road was leased
May 12,1864, to thé Philadelphia & Reading Railroad Co. for 999 years
at a rental of $326,552 per year. There is no debt, and 8 per cent divi
$61,343 dends are paid. Operations are included in lessee’s returns.
Balance
............................................
$83,000
20,148
One-third to Canada Southern...................
27,667
M in eral R a n g e .—(See Map. J—Houghton, Mich., to Calumet, Mich.
$55,333
$10,895 15*2 miles ; branch, Franklin Station to Franklin, 2 m ; total 17^2 miles.
Two-thirds to Michigan Central................
Opened Sept., 1873. Stock is $L28,000, on which dividends of 10 per
The annual report for 1884 in V. 40, p. 567. had the following:
cent per annum have been regularly pai l since the opening o f
the road. In 1884 gross earnings were $124,892 ; net, $47,483 ; surplus
1883.
1884.
Earnings—
Passenger...................................................
$4,007,548
$3,464,560 over interest, dividends, &c., $19,115. Total surplus Sept. 1, 1885,
Freight............ .........................................
9,472,366
7,620,887 $120,000. (Y. 41, p. 7 2 1.)
529,853
573,630
Mail, express, &c......................................
M in n ea p o lis & St. L o u is.—Owns main line, Minneapolis
11,659,077 Angus, 259 miles; Pacific Division, Hopkins to Morton, 92 miles ; Kalo
Total gross earnings......................
14,009,767
8,959,132 Branch, 2 miles; Lake Park Branch, 1 *2 miles; total operated, 354%
Operating expenses... .............................
9,741,633
miles. Leases trackage from Minneapolis to St. Paul over St. Paul &
2,699,915 No. Pacific R R .; also owns from Minneapolis to White Bear, 12 miles,
Net earnings.........................
4,268,129
76-84 win.'ll is leased to the St. Paul & Duluth RR.
Per cent operating expenses to earnings.
69 53
The bonds of the $1,100,000 mort. (1877), numbered from 1,101 to
INCOME ACCOUNT.
1,400, for $500 each ($150,000 in ail), are guaranteed by the Bur. Cedar
18=4.
1883.
Rap. & No. RR. The bonds on the 15 miles were issued by the Minneapolis
Receipts—
$
$
2,699.945 & Duluth Railroad before it was absorbed by this company. Preferred
Net earnings...................
4,268,129
79,858 stock of $8,000,000 is authorized and $4,000,000 issued; common stock,
Interest and dividends.............................
67,701
19,000,000 authorized and $6,000,000 issued^ par of both $100 per
Total income..............
4,335,830
2,779,803 share. The projected Southwestern extension runs from Fort Dodge,
fa., towards Kansas City, Mo., 325 miles, with a branch to Council
Disbursements—
$
$
Rentals paid........................ .
184,310
184,310 Bluffs, 140 miles. R. R. Cable, President. Chicago.
The Wis. Minn & Pacific, Red Wing, Minn., to Eagle Lake, 84 miles,
Interest on debt...................
2.249,106
2,454,292
Canada Southern (hj of net)
611,571
20,448 and Morton to Watertown Junction, 121 miles, is leased and operated
Dividends (6 p. o.)................
1,124,292
............ by this company, but the M. & St. L. has no oDlisution for the bonds.
Common stock, $2,055,000; pref., $3,080,000. Charles F. Hatch, Presi
Total disbursements.......................
4,169,279
2.659,050 dent, Minneapolis.
In 1885 gross earnings were $1,714,753; net, $592,621. In 1884,
Balance, surplus.........................................
166,551
*120,753
gross earnings, $1,734,026; net $482,900; interest payments, $482,* The balance to credit of income account D ec.31,1881, was $327,293. 009; balance, $891. Jan. 1 to Aug 31, 1885, gross earnings, &c., $ 1 .-(V . 40, p. 269 V. 41, p. 23; V. 42, p. 4, 22.)
153,970; net, $361,346. (Y. 41, p. 1 3 2 ; Y. 42, p. 156.)
Net earnings.......................................... $2,750,000
Charges.........................................................
2,667.000
$2,699,915
2,638,602
fe e ©
RAILROAD
STOCKS AND BONDS.
Vol. XLII.
BAILKOAD
A p r i l , 1886. J
STOCKS AND
BONDS.
61
9
Subscriber« w ill confer a great favor by givin g im m ediate notice o f any error discovered in these T a b les.
Bonds—Prind
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal. When due
Amount
For explanation of column headings, &c., see notes of
of
Par Outstanding Rate per When Where Payable, and by Stocks—Last
Road. Bonds Value.
on first page of tables.
Cent. Payable
Whom.
Dividend.
Minnesota < Northwestern—1st M., g., $20,000 per m
&
Mississippi té Tennessee—1st mortgage, senes “ A ”
1st mortgage, series “ B ,” (a second li e n ) . . . . . . . .
Missouri Kansas té Texas—Stock...............................
1st m., gold, sink, fund, onroad and land (U.P.S.Br)
1st mortgage, gold (Tebo. & Neosho).....................
Consolidated mortgage, gold, on road and land...
2d m., income, exchangeable for geni. m. 5 per ct.
Booneville Bridge bonds, gold, guar......................
General consol. M., gold ($7,352,000 are 5s).........
East Line & Red River.......................... ..................
Hannibal & Central Missouri, 1st mortgage..........
Intemat. & Gt. North’n, 1st mort., gold................
do
2d mortgage............... .....................
do
Colorado Bridge Jionds....................
Missouri Pacific—Stock....................... .......................
1st mortgage, gold ("Pacific RR. of M o.)................
2d mortgage (s. f. $50,000 per annum)..................
Real estate (depot) bonds......................................
3d mortgage....... . ................................................... .
Consol. M., gold, for $30,000,000 (coup, or reg.)..
Carondelet Branch, 1st mortgage....................... .
Leavenworth Atch. & N. W., 1st mort., guar.......
St. Louis & Lexington, 1st mort..............................
St. L. Iron Mt. & So., 1st mort., coupon................
do
2d M.. gold, coup., may be reg...............
do
Ark. Branch, 1st mort., gold, land gr**
do
Cairo Ark.& T., 1st, gold, cp.or reg.......
do
Cairo < Fulton, 1st, g., on road & land..
&
do
Gen’l consol. M. (for $32,036,000)___)
do
do
supplemental, gold j
129
100
100
1,441
182
100
786
786
....
1,370
__
70
776
776
....
906
283
283
....
299
990
15%
21
210
310
99
71
304
\
1884
1877
1877
$1,000 $2,588,000
5 g. J. & J. N. Y., J. G. King’s Sons. July 1, 1934
977,000
8
A. & O. N. Y., Bank of N. Y. April 1, 1902
1,000
1,100,000
8
J. & J.
1,000
do
do
July 1, 1902
100 46,405,000
2,078,000
1868
1,000
6 g. J. & J. N. Y., Company’s Office. Jan., 1899
349,000
do
1870
1,000
7 g. J. & D.
do
June, 1903
1871-3 1,000 14.770.000
7 g. F. & A. N.Y., Mercantile Tr. Co. 1904-1906
A. & O. N. Y., 195 Broadway. April 1, 1911
1,183,000
6
1876 500 &c.
898,000
do
1873
1,000
7 g. M. & N.
do
May 1, 1906
do
1880
do
1,000 19,688,000 5 &6 g. J. & D.
Dec. 1, 1920
6
J. & D.
440,000
do
do
1880
1900
768,000
do
do
1870
7 g. M. & N.
1,000
May 1. 1890
7,954,000
do
do
1879
1,000
Nov. 1, 1919
6 g- M. & N.
M. & 8.
6
7,054,000
do
do
1881 50Ö &c.
1909
M. & N.
225,000
7
do
do
1880
1920
New York, Office.
100 33,000,000
1%
Q .-J .
April, 1886
7,000,000
1,000
1868
6 g. r . & a . N.Y., Mercantile Tr. Co. Aug., 1888
7
j. & j .
2,573,000
do
1871
1.000
do
July, 1891
M. & N.
800,000
8
do
1872 500 &o.
do
May 1, 1892
7
M. & N.
3,828,000
do
do
1876
1,000
Nov., 1906
1880
do
do
1,000 14,710,000
Nov., 1920
6 g- M. & N.
245,000
do
1873
1,000
6 g. A. & O.
do
Oct. 1, 1893
7
A. & O.
190,000
do
1870
1,000
do
Oct. 1, 1889
F. & A.
650,000
5
do
1880 500 &o
do
Aug., i9 2 0
F. & A.
7
4,000,000
do
1867
1,000
do
Aug. 1, 1892
6,000,000
1872
1,000
7 g. M. & N. New York or London.
M a y l, 1897
2,500,000
1870
1,000
7 g. J. & D. N.Y., Mercantile Tr. Co. June 1, 1895
1,450,000
1872
do
1,000
do
7 g. J. & D.
June 1, 1897
7,600,000
do
1870
1,000
7 g. J. & J.
do
Jan. 1, 1891
A. & O.
1881
1,000 10,353,000
do
do
April 1, 1931
5 g3,311,000
5 g. A. & 0 .
1881-2 1.000
do
do
, April 1, 1931
M in n eso ta & N orth w estern .—Line of road from St. Paul, Minn.,
via Lyle to Manley Junction, Iowa, 129 miles; tbe road from Lyle to
Mauley Junction. 20 miles, is leased to the Central Iowa. Projected to
be built in 1886, road from Hayfleld, Minn., to Dubuqde, la., 170 miles,
with bonds at $20,000 per mile under the 1st mortgage. The common
stock is $1,941,000; pref. stock, $1 294,000. Also in Jan., 1886, there
were issued and placed in trust $1,60«,000 preferred and $2,409,000
common stock against advances of money on the 170 miles to be built.
A. B. Stickney, Pre-ident, St. Paul, Minn.
M ississipp i & Tennessee.—Owns from Grenada, Miss., T;o Mem
phis, Tenu., 100 miles. Capital stock, $825,455. Debt was consolidated
as above in 1877. A minority of stock was sold in April, 1884, to R. T.
Wilson of the Louisville New Orleans & Texas RR. Earnings for three
years past were: 1882-83, gross, $522,101 ; net, $260,635; 1883-84,
gross, $545,016; net, $250,446; 1884-85, gross, $489,549; net, $153,413.
—(V. 42, p.-21.)
M isso u ri K a n sa s & T e x a s.—(See Hap Missouri Pacific)—Line
OP R oad —Hannibal, Mo., to Denison, Tex., 576 miles; branches, Holdens,
Mo., to Paola, Kan., 54 miles; Parsons, Kan., to Junction City, Kan., 157
miles; Whitesboro, Tex., to Ft. Worth, Tex. (leased), 71 miles ; Fort
Worth, Tex., to Taylor, Tex., 163 miles; Denison, Tex., to Gainesville,
Tex., 41 miles ; Denison to Mineóla, Tex., 103 miles; Denton, Tex., to
Dallas, Tex., 39 miles ; Miller Junction, Tex., to Belton, 7 miles ; Trini
ty, Tex., east, 67 miles ; coal branches, 8 miles; Jefferson, Tex., to Mc
Kinney, Tex., 155 miles. Total, 1,441 miles. International & Great
Northern, from Longview, Texas, to Houston, Texas, 232 miles, and
Palestine, Texas, to Laredo, Texas, 415 miles ; branches—Longview to
Jarvis, 29 miles ; Houston to Columbia, 50 miles ; Phelps to Huntsville,
8 miles; Mineóla to Troupe, 45 miles; leased—Round Rock to George
town, 10 miles; Henderson to Overton, 16 miles; leased Gal. H. & H.
road, Houston to Galveston, 50 miles ; total operated 826 miles.
Organization , H istory , «fee.—The M. K. & T. Company was organized
April, 1870, and embraces by consolidation the Union Pacific Southern
Branch, the Tebo & Neosho and other minor companies. In 1874 the Han
nibal & Central Mo. was purchased. The company made default on its
consolidated bonds in Dec., 1873, and was operated by a Receiver from
Dec. 30,1874, to July 1,1876, when the Union Trust Company of New
York took possession. On Dec. 1,1880, the company took possession
o f its property, paying the overdue coupons. The company had a land
grant from the United States estimated at 817,000 acres and from the
State of Kansas 125,000 acres. There is also a grant in the Indian
Territory of 3,622,400 acres subject to the extinguishment of the
Indian title. The . Booneville Bridge Company is a separate organiza
tion, and earns interest and proportion for sinking- fund.
At a meeting of stockholders May 18, 1881, a'lease to the Missouri
Pacific for 99 years was ratified on terms following: That the
lessee operate the road and pay the obligatory mortgage interest, pay
ing over the balance to the Missouri Kansas & Texas Company. If there
is a deficit in income the lessee may advance money to pay interest, or
in case of failure to make such advanoe the Missouri Kansas & Texas
can resume possession of its road.
The International & Great Northern Railroad was acquired by Mo.
Kan. & Tex. in May, 1881, b y an exchange of two shares of Missouri
Kansas & Texas stock for one of International & Great Northern,
and the Int. & Gt. North, stock is held in the treasury of the M. K. & T.
The International & Great Northern was a consolidation of the
Houston & Great Northern Railroad and the International RR. of Texas
on Sept. 22,1873. The company made default on its bonds, and a re
ceiver was appointed in April, 1878. Sales in foreclosure were made
July 31 and Oct. 14,1879. In the reorganization the lands of the com
pany, amounting to about 5,000,000 acres, were conveyed to the
seoond mortgage bondholders in full settlement for their lien on the road,
which was thereby discharged, and the New York & Texas Land Com
pany was formed to manage the lands.
Stock and Bonds.—The stock has ranged as follows since 1877,
viz.: In 1878, 2@7%; in 1879, 53s@35%; in 1880, 28%@49J4; in 1881,
3 4 7e® 54; in 1882, 26% @42% ; in 1 883,19%@3478; ÍR 1884, 9%®23%;
in 1835,14L«t'a>37i% in 1886, to April 16, 25% -13234.
;
The general consolidated mortgage is at $20,000 per mile on all road
built and to be built; of which $18,217,000 is reserved to take up first
consol, and prior bonds; $447,000 for the East Line & Red River bonds.
There were $10,000,000 reserved to take up Income mortgage bonds and
scrip, and in Nov., 1883,an exchange was offered to the holders of Income
bonds, m these general mortgage bonds, bearing 5 per cent interest, at
par, and to scrip holders at 60 per cent of the race of their holdings.
There are $32,000 of Hannibal & Cent. Mo. 7s 2d mort. ( M.& N. bonds)
yet out, due in 1892; and also a small amount of old 8 per cent income
bonds of International & Great Northern, exchangeable into Int. & G.
N. 2d mortgage bonds. The I. & G. N. also guarantees $2,000,000 of
Galveston Houston & Henderson 1st mortgage 5 per cent bonds*
Operations , F inances, &c.—Since the road went into the Gould sys
tem the earnings have increased, both gross and net.
MISSOURI KANSAS < TEXAS INCOME ACCOUNT.
fc
Receipts—
1882.
1883.
1884.
Net earnings.................... .
$2,265,478 $3,197,007
$2,970,004
Dividends, &c.......................
206,763
146,207
457,419
Total net income............
$2,472,241
$3,343,214
Disbursements—
Interest on b o n d s ...............
Taxes, rentals, & c .... .........
1882.
$2,378,822
191,059
1883.
$2,492,517
479,200
1884.
$2,439,618
479,661
Total disbursements___
$2,569,881
$2,971,717
$2,919,279
Balance for y e a r ................. def.$97,640 sur.$371,497 sur.$508.144
INTERNATIONAL & GT. NO. INCOME ACCOÙNT.
Receipts—
1882.
1883.
1884.
Net earnings.........................
$1,006,900
$954,252
$624,722
Other receipts.......................
67,072
34,657
28,971
Total net income............
Disbursements—
Interest on bonds.................
Taxes, rental, &c..................
$1,073,972
$988,909
$653,693
$1,119,657
65,688
$908,785
116,417
$914,417
145,290
Total disbursements....
$1.185,345
$1,025,202
$1,059,707
Balance for year................... d ef.$ lll,3 7 3 def.$36,293 def.$406,014
—(V. 40, p. 120, 337, 5 0 6 , 625 ; Y. 41, p. 557 ; V. 42, p. 394.)
M is s o u r i P a c if ie . — (See Map.). — Line of R oad . — Owns main
line from St. Louis, Mo., to Atchison, Kan., 330 miles; branches
660 miles ; total 990 miles. InM ay, 1881, the St. Louis Iron Mountain
& Southern was taken in. July, 1883, the mileage was as follows : From
St. Louis to Texarkana, Texas Line, 490 miles ; branch lines, Mineral
Point, Mo., to Potosi, Mo., 4 miles ; Bismarck, Mo., to Belmont, Mo., 121
miles ; Poplar Bluff, Mo., to Bird’s Point, Mo. (Cairo), 74 miles ; Gurdon,
Ark., to Camden, Ark., 34 miles ; Knobel to Forrest City, 97 miles;
Forrest City to Helena, 43 miles; Newport to Batesville, 27 miles;
Neelyville to Doniphan, 20 miles ; total, 906 miles.
Organization, L eases, &c.—The Pacific RR. Co. (of Missouri) was
incorporated under charter dated March 12, 1849, and road opened to
Kansas City in October, 1865. The company received a loan from the
State of Missouri.
The Paciflc Railroad of Mo. was sold in foreclosure of the 3d mortgage
Sept. 6,1876, for the nominal price of $3,000,000, to C. K. Garrison
and others, and a new company organized with a stock of $800,000.
This foreclosure was afterwards contested by suit, but all litigation was
settled in April, 1885. The present company was a consolidation in
August, 1880, embracing the Missouri Paciflc, St. Louis & Lex., Kansas
City & East, and Lex. & South, in Missouri; and the St. Louis Kan. &
Ariz. and Kan. City Leav. & Atch. in the State of Kansas.
The St. Louis Iron Mountain & Southern stock was taken up with
Mo. Paciflc in May, 1881, on the basis of three shares of Mo. Paciflc for
four shares of Iron Mountain, and the St. Louis & Iron M. stock is
held by Missouri Paoiflc.
Stock and B onds.—Under the new regime the payment of dividends
was begun on the present stock in 1880, in which year 1% per cent was
paid. Dividends since were as follows: in 1881, 6; in 1882, 6% ; in
1883, 7 ; in 1884, 7; in 1885, 7.
The consolidated mortgage above is for $30,000,000—trustees John F.
Dillon and Edward D. Adams. Of the consol, bonds the balance unissued
($15,290,000) is in the hands of trustees to redeem prior bonds as they
fall due.
For the payment for new lines aoquired and to be acquired there are
to be issued from time to time $6,000,000 of new stock at par to old
stockholders, and stockholders of record Feb. 6,1886, had the right to
subscribe for one new share for each ten of old. See circular,Y. 42, p. 125.
Operations, F inances, &c.—The earnings and income aecount below
are for the Missouri Paciflo and its branches only (990 miles); for, not
withstanding the merger of St. Louis & Iron Mountain stock and lease of
Missouri Kansas & Texas, the operations of all the roads have been
kept separate and are so reported.
The annual report of Mo. Paciflc for 1884 was published in the Chron
icle , V. 40, p. 336, 506. The earnings, income account and balance
sheet, were as follows:
1882.
1883«
1884.
Miles of road operated Deo. 3 1 .,..
990
990
995
Passengers carried (No.)
1,472,311 1,567,683
1,757,862
Freight carried (tons)__
3,194,353
3,270,721 2,839,524
Gross earnings..................... .......... $8,094,618 $9,153,731 $8,777,628
Operating expenses....................... 4,324,888
4,978,465
4,492,877
Net earnings........ . .......................... $3,769,730 $4,175,266 $4,284,751
Perot, of op’at’g e x p ’es to eam’gs.
53-44
54-39
51*18
INCOME ACCOUNT.
Receipts
1882.
1883.
1884.
Net earnings.........................
$3,769,730
$4,175,266
$4,284,750
Dividends, &C........................
700,552
439,661
206,822
Total net income............
Digfa f* S /& ts
'll S ’Tb 'iX
Interest on bonds................
Dividends paid.....................
Rate of dividend..................
Taxes, rentals, &e ...............
Total disbursements
$3,427,423! Balance for year...................
$4,470,282
$4,614,927
$4,491,572
$1,598,390
1,946,419
6%
348,068
$1,667,880
2,097,348
7
420,296
$1,798,200
2,098,105
7
775,036
$3,892,877
$4,185,524
$4,671,341
sur.$577,405 sur.$429,403 def.$179,769
CoalJMineV
Green k S:
O P
T H E
RAILROAD
M A P
MISSOURI PACIFIC
RAILWAY,
i
AJSTD A iL I E D LKSTES. J
_____,
-'% --■
STOCKS AND
BONDS.
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At H
f
U A
[V o l . x l i i
Magdaleifa
A p r i l , 1886*]
EAILROAD
STOCKS AND BONDS.
63
Snbscribers w ill confer a great favor by g ivin g im m ediate notice o f any error discovered in tliese Tables.
•_____
DESCRIPTION.
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount
For explanation of column headings, &c., see notes of
of
Par Outstanding Rate per When Where Payable, and by pal, When Due
Slocks—Last
on first page of tables.
Road. Bonds. Value.
Cent
Payable
Whom.
Dividend.
Mobile A Qvrard—2d mort., end. by Cent. Qa. R R ..
3d mortg. bonds.........................................................
Mobile< Montg.—Stock................... ....................
6
1st mort. bonds by L. & N. RR. C o . . . . . . . . . . . . ’ ...
Mobile A Ohio—Stock ($10,000,000)..........................
1st mortgage, g o ld .................................................
1st mortgage, extension, gold.......... .......................
1st pref. inc. and s. f debentures, not cumulative
2d
do
do
do
3d
do
do
do
4th
do
do
do
Montgomery A Eufaula—1st mortgage.....................
Montpelier A Wells River—Stock................................
Morgan'8 La. A Texas—Stock........................................
1st mort., gold (N. O. to Morgan City)....................
1st mortgage, Alex. Extension, g o ld .....................
N. O. Opelousas & Gt. Western, debt assumed___
Morris A Essex—Stock................; ................................
1st mortgage, sinking fund.....................................
2d mortgage...............................................................
Convertible bonds......................................................
Gen. m. & 1st on BoontonBr. &c. (guar. D.L.&W.)
Consol, mort. (for $25,000,000) guar. D. L. & W\.
Special real estate mortgage...................................
’ Real estate terminal mort. (guar. D. L. & W ).......
Nashua A Lowell—Stock.....................................
Bonds ($100,000 are gold 5s, J. & J., 1900)........ !
Nashville Chattanooga A St. Louis—Stock...............
Bonds endorsed by Tenn.................................
1st mort. (for $6,800,000), coup....................
2d mort.....................................
85
180
528
472
55
81
38
i"02
157
80
132
84
84
1869
1877
$1,000
1,000
100
....
100
1,000
1,000
....
....
1879
1883
1879
1879
1879
1879
1879
1878
1880
....
50
1,000
1,000
50
1864 500 &c.
1866 500 &c.
Var’us 1,000
‘ ,34 1871
1,000
137 1875
1,000
....
54
554
151
340
321
1882
’73-’80
....
1857
1873
1881
1,000
100
25
1,000
1,000
1,000
GENERAL BALANCE DEC. 31.
Assets1882.
1883.
1884.
Cost of road and equipment..........$39,298,901 $39,950,939 $40,618,132
Investments in stocks and bonds.. 20,856,312 22,324,316 21 77n 077
Materials and supplies on hand___
624,117
1,185,718 l ’094’632
Cash on hand.................................... 1,238,990
779,050
577.’844
Uncollected earnings.....................
202,579
731,661 2,343 359
Advances to railroads.....................
709,441
$261,000
800,000
2,950,800
2,677,000
5,320,600
7,000,000
1,000,003
4,893.000
1,850,000
600,000
900,000
1,560,000
800,000
5,000,000
5,000,000
1,477,000
251,716
15,000,000
5.000,000
2,999,000
284,000
4,991,000
6,557,000
1,025,000
2,220,000
800,000
300,000
6,668,362
125,000
6,175,000
1,000,000
8
4
3
6
T f:
7
7
7
7
6
2
16
7
!*
3H»
7
rr
7
7
7
7
41
a&5
3^2
6 & 5 g.
2
6
7
6
J. & J. N. Y., Nat. City Bank.
J. & D.
do
do
N. Y., L. & N. Office.
m .'& ' n .
J.
*D
.
Q.—Jan
Yearly.
Yearly.
Yearly
Yearly.
J. & J.
A.
J.A.
J.
M
F.
J.
A.
J.
&
&
&
&
&
&
&
&
&
O,
J.
O.
J.
N.
A.
J.
O,
D,
J.
M.
F.
A.
J.
J.
J.
& "j.
& N.
& A.
& O.
& J.
& J.
& J.
Jan., 1889
June. 1897
N ov, 1885.
M a y l, 1931
N.Y. Farmers’ L’n& Tr. Dec. 1, 1927
„ do
do
July 1, 1927
N.Y., 11 Pine Street.
Last pd. 2 p. c. in 1881. Redeemable
only by
• None yet paid.
sinking fund.
N. Y., 11 Pine Street.
N.Y., Nat. City Bank.
July 1, 1909
Boston.
(?)
Deo., 1884
N. Y., Company’s Office April 1, 1918
N.Y. Bk. of State of N. Y. July 1, 1920
do
do
N. Y., Del., Lack & W. April 1, 1889
Jan. 2, 1886
do
do
M a y l, 1914
do
do
Aug. 1, 1891
do
do
Jan. 1, 1900
do
do
Oct., 1901
do
do
June 1,1915
N. Y., Del. Lack. & W. July 1, 1912
Boston & Nashua.
Nov. 2. 1885
Boat. Safe Dep. & Tr.Co 1893 & 1900
New York & Nashville. April 30, 1884
N.Y., Continental N.Bk. July 1, 1886
do
do
July 1, 1913
do
do
July 1, 1901
[
Gross earnings for eight months from July 1 to Feb. 28 were SI 454 759
$493?506 inS1884-51,050,202 in 1884-5; net, $472,910 in 1885-6, against
The report for 1884-85 was published in the Chronicle, V. 41, p. 418
and stated that to the railroad wars, and consequent low rates, could be’
attributed the loss in revenue with an increase of tonnage during the
winter.
The decrease in bc th tonnage and revenue during the other
months can be accounted f or by the short cotton crop and the depression
in business generally.” * * “ The increase in the passenger traffic
..Total assets............................... $62,930,340 $64,971,684 $66,410,094 consisted entirely of through travel and chiefly of visitors to the N O
Liabilities—
^
*
Expasition, who were carried at extremely low rates.
®t00J-V V ..................................... $29,958,900 $29,962,125 $29,974,800
Operations for four years ending June 30 w ere:
Funded debt..................................... 25,379,000 26,895,000 28,895,000
—
Interest due and aocrued...............
468,972
1881-82.
1882-83.
1883-84. 1884-85
496,433
504,693
Vouchers for Dec. & bills payable. 2,395,920
2,430,651
2,150,806
Total gross earnings... 2,164,274 2,271,058
2,278,917 2.101025
92,386
Miscellaneous...................................
122,911
1,547,467 1,576,*186
Income account............................... 4,635,162
5,064,564
5,064,564 4 834 794 Oper. expenses & taxes 1,602,145 1,641,024
Total liabilities......................... $62,930,340 $64,971,684 $66,410 094
St . Louis I ron Mountain & Southern.—This company defaulted on
its interest in 1875 and finally made a compromise with its bondholders
issuing income bonds for overdue coupons. The company afterward
offered to exchange these for the new 5 per cent mortgage bonds
and all are reported as exchanged. There are also $73,000 of old income
8 per cents of Cairo & Fulton. The Mercantile Trust Co. of N Y is
trustee of the general consol, mortgage. The stock is all held in the
treasury of the Missouri Pacific Railway Co., having been retired in
May, 1881, by the issue of three shares of Mo. Pac. stock for four of St
Louis & Iron Mountain. The sales of land in Arkansas on which the
Lairo & Fulton bonds have a lien are given in the report for 1884 as
34,242 acres for $115,464 (incl’g lots). Lands yet unsold, 895,652 acres.
The report for 1884 was published in the Chronicle, V. 40, p 506
and the mcome account was as follow s:
’
INCOME ACCOUNT.
_
.
1882.
1883.
1884.
Gross earnings...................
$7,582,209
$7,904,683
$7,451,897
Receipts—
'
Net earnings .......................
$3,735,622
$3,690,120
$3,464,599
Other receipts.......................
102,892
95,054
44,727
Total net income............
$3,838,514
$3,785,174
$3,509,326
Vis bursemen ts—
Interest on bonds................
$2,248,979
$2,259,193
$2,206,854
Taxes,br’ge and car ex., &o.
499,663
479,486
554,093
Total disbursements....
$2,748,642
$2,738,679
$2,760,947
Balance for year
sur.$L,089,872sur $1,046,495 sur.$748!379
r i V 22,P
p.
63,8i215?333 3 3’,7?46f.?6 ' 5° 8 * V' 4l’ P' 24’ 77’ 356>744> V’
9
M o b ile & G ira rd .—Owns from Columbus, Ga., to Troy, Ala., 84
miles. Common stock, $987,164; preferred stock, $279,900, and $5,080
Pike County stock. Second mortgage bonds are endorsed by Central
RR. of Georgia. There are also $19,000 3d mort. 6 per cent bond«, due
June 1 ,1 s 97. In 1883-84, gross earnings, $241,670; net, $49,686. In
1884-85, gross earnings, $224,297; net, $46,561.
M o b ile * M o n tg om ery —(See map Louisville A Nashville)Owns irom Montgpmeiw, Ala., to Mobile, Ala., 180 miles. The
old road was sold in foreclosure Nov. 16,1874, and purchased bv bond* ? 1i^n8n/^h0PliSai!lze, tlu8 company on a stock basis, m Nov.’, 1879,
<
d
in s t o c k owned m this country was purchased by parties
in the interest of the Louisv. & Nashv. RR. at 80, giving the control to
that company, which now operates it. The old mortgage debt outstandS
$230,000. The Louisville & Nashvilkf Co. has issued
f ^ i67Z’0°0 bonds secured on this road, which are pledged for the collat**2*
oonds of that company. Gross earnings fn 1884-5, $1,240,143;
net, $414,545; int. and taxes, $ ’ 14,222 ; sur., $200,322.
M o b ile & O h io.—Owns from Mobile, Ala., to Columbus Kv.. 472
miles, and extension (by Kentucky & Tenn. RR.) to Cairo, 21 miles;
to 8^arkv'nitr Mi««’
C ^ bu8W
™U
Miss-’ 14= miles; Artesia, Miss.,
tntn^a n™™+A^1 lo^ viM de8’ ^Ilddon>Miss., to Aberdeen, Miss., 9 miles;
S
stand
JulT’ 1885, the gauge was changed to
standard, 4 feet 8 ^ inches, at a cost of about $28 per mile. In Decem
ber, 1885, a lease of the St. Louis & Cairo RR. was taken for 45 velrs at
a rental guaranteed to amount to $165,000 per year
*
Dossession May8
87 5* » r a tn f 3.^’
=
two tru8tse8 aad receivers took
pmffnre10ThAhnidAnH n
f
C0™Pany was reorganized without fore-
Net earnings..................
Disbursements—
Interest on mort. bonds
interest on incomes___
Total interest . . . . . .
Ba] an. ®..........................
c
562,129
630,034
731,450
524,839
456.000
106.000
456.000
159.000
471,200
265,000
432,400
562,000
615,000
736.200
482 400
Sur. 129 Sur. 15,034 Def.4,750 Sur 42,439
P .M . 76,356, 4 1 8 , 473, 612.
M o n tg om ery & E u fa u la .—Montgomery to Eufaula, A la . 80
miles, the road was foreclosed May 1,1879, bought by W. M. Wacllev
^uu the present company organized.
Operated under contract by
Cent. RR. of Georgia/. Stock is $620,000. Gross earnings year ending
June 30,1884, $299,470; net, $90,763. Div. of 10p. o. paid in ApL, ’83.
^ W e lls R iv e r .—Owns from Montpelier to Wells
River, Vt., 38 miles. Reorganized January, 1877. D. R. Sort well
M arch^i; l f l l ! $ 9 ^ 1 ^ , $17,774Gl'°S8
f° ry6ar endin*
L o u isia n a & T e x a s R a ilro a d & Steam ship C o.—
The road owned is from New Orleans to Cheneyville, 204 miles:
Cheneyyilleto Alexandria (under track agreement),
f ? taJ’ 2^3 miles. In February, 1883, the stock was sold to the
ooutuern Pacino parties, as reported, at 150 per share of $100. aud the
Southern Pacific Company held (April, 1885) $4,062,700 out of the
whole stock of $5,000,000. This company’s statements to the New York
stock Exchange said that the company’s property consisted of seven
teen iron steamships plying between New York and New Orleans and
between Morgan City, La., and the various Texas and Mexican ports,
and two between New Orleans, Florida and Havana ports; also four
large ferry boats, tugs, dredge boats, wharves, warehouses, and terminal facilities, besides nearly the entire capital stock of the Gulf Western
a m i? ™ 0 Eall™ad- Texas Transportation Railway Co., Buttalo Bayou
HnnO
w j neJ=„C0'’ aud a majority interest in the capital stock of the
Hou ton & Texas Central Railway Co., &e. Gross earnings 1883,
f
.
o«et: $1»885>714 III 1§84 gross earnings were $3,629,004;
net, £4,205 451
™ $1,163,136; interest and taxes. $513,437. In 1885 gross iearnings
91)551;086_ G?oss ’earniugu
t o Fe^
l o w q1 a7°fvmAoS86Va 121; fr6^ ’93 ^23, 1885; 216, $206,633, against
fi7
$239,96^5 (V. 40, p. b iSal1
l, oiSt V. 41, p. S 134, net’ 357, 745; V. 42,
xrai ° o ^ 18
E s s e x .—Owns from Hoboken, N. J., to Phillipsburg.
N. J., 84 miles; branch, Denville, N. J., via Morris & Essex Tunnel,
Hoboken, N. J., 34 miles; leased Dover to Chester, 10 m iles; Newark &
Bloom. RR., 4 miles; total operated, 132 miles. In 1868 this road
was leased in perpetuity to the Del. Lack. & W. RR. The lessees assume
fb
^
* E88,ex ER- aad pay 7 per cent per am um on
the capital stock, and they also agreed to pay 8 per cent in case the
Morris & Essex earns 10 per cent on its stock in any one year after the
year 1874. The Morris & Essex is important to the Delaware Lacka
wanna & Western as a route with terminal facilities on New York Harbor, but the actual earnings on the road show a large annual deficit for
in l8 8 o e
9aA
!J«aitier i
r<
?utaL Tbetose to lessee was
m 1882- w “ ’550'
1883>
N ashua & Liow ell.—Owns from Lowell, Mass., to Nashua, N. H.
! ^ ! e8'
9 oto9® J» J®80’ a lease f°r 99 years to the Boston &
r
Lowell was made. The rental is $60,000 per year, equal to 7 b per cent
on stock, payable absolutely, and $4,000 (or one-half of one percent
moie) is payable contingent upon the amount of grois earn ing and 8
SehtC «qnn yvS? pai<i .as .rental for the past three years. The funded
of
with
^ eril0wPr t0 vote uP°n which is irrevocably aeDt or $300,000, principal and interest, is assumed by the lessee, and
^
of Rflid d
81 c °mPany> until the extinguishment the lessor holds the lessee’s no;es for the same amount—$300,oOO.
« 10*006
authorized by the charter is
N ash ville C h attan ooga & St. L o u is.—Owns from Chattanooga
isRuwl 5!?20fi0 liawH?
K
$100 eacll>Of Which there have been
HhAih^miaHinkmail’o K yV S2i P?Ue8; branches—Wartrace, Tenn.?S
to
Shelbyville, Tenn., 8 miles; Bridgeport, Ala., to Inman, Tenn 25
f f i p»
hnes—Nashv. to Lebanon, 30 miles; McMinnville
i
S
t
'
l
s
t
l
V
» ' *“ « t o t d r t .n t a r i ’
August, 1881, 7 per cent was declared on 1st preferred incomes • 1 Branch, 61 miles; Decherd to Fayetteville, 40 miles; Centreville
also 2 per cent on 2d incomes. In August, 1882, 2 p e? com on th^ Branch, 47 miles: Duck River RR. (leased), 48 miles; total, 580 miles
«116 St0ck (^3>
385>°90) is owned by the Louisville &
1 8 8 5 ,T 4 p e fc e n t 0me8;
1883’ 3 per cent : ^ 1 884?! per cent ; i^ N ^hvO ^RTi0^ 1
«
and pled,?Kd ? ,U0?S the collaterals for the
Crust loan of that company. The bonds endorsed by Tennessee
64
RAILROAD
STOCKS AND
BONDS.
[Y ol.
x l ii.
Subscribers w i l l con fer a great fa v o r b y g iv in g im m ed ia te notice o f a n y error discovered in tbese T a b les.
Bonds—Prinoi.
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal, When due.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par
of
of
For explanation of column headings, &c., see notes
Outstanding Cent. Payable
Whom.
Dividend.
Road. Bonds Value.
on first page of tables.
Nashville Chattanooga A 8 t. Louis— Continued)—
(
Bonds held by U. 8. Government............................
N. C.& St. L., 1st M. on Fayette. & McM. branches
do
1st mort, on Lebanon Branch..........
do
for Jasper Branch............................
do
for Centreville Branch......................
Duck River RR., 2d mort., endorsed....................
Nashville A Decatur—Stock, guar’d 6 p. c.b y L. & N.
1st mort. guar. s. f ....................................................
2d mortgage, income.................................................
Natchez Jackson A Columbus.—1st mortgage............
Mortgage bonds (for $600,000)...............................
Naugatuck—Stock.........................................................
Bonds.............................- ...........- ........ - ....................
Nesquehoning Valley—Stock.......................................
Nevada Central- 1st mort., gold (sink, f., $20,000)
Newark A Hudson—le t mortgage...............................
Newark Somerset A Straitsv., O—1st mortgage.......
NewburgDutchess A Connecticut—Income bonds...
Newburg A New York—1st mortgage.........................
New Castle A Beaver Valley—Stock............................
New England A Southwestern—1st M. ($6,000,000).
New Haven A Derby—1st < 2d mortgages.................
te
New Haven A Northampton—
Stools..............................
Mortgage bonds, coupon— ....................................
Holyoke&W. .leased. 1st M. <$200,000 guar.)........
Consol, sink, fund $15,000 per yr. & mort, bonds.
Northern Extension..................................................
New Jersey A New York—1st mort, (reorganization)
88 1877
30 1877
7*8 1877
48
122
119
119
99
66
61
18
94
5
44
12
15
26
13
170
92
17
27
30
1870
1867
$ ....
1,000
1,000
1,000
1,000
500
100
1833 l,000&c
50
1,000
1879
1,000
1871
1869 50Ö &c.
1877
i,6'oo
1863
50
1,000
1885
68&70 500 &C.
100
1,000
1869
1,000
1870
1,000
1879
1,000
1881
500&C.
1880
$500,000
480,000
300,000
173,000
176,000
69,000
1,642,557
1,817,000
178,000
174,400
27,500
2,000,000
150,000
1,400.000
750,000
250,000
800,000
1,164,500
250,000
700,000
(Î)
525,000
2,460,000
1,300,000
260,000
1,200,000
700,000
275,000
& D.
& J.
& J.
& J.
.. •
M. & N.
6
J. & D.
3
J. & J.
7
6 g- A. & 0.
___
io
7
J. & J.
5
J. & D
4
M. & S.
2%
6 g. A. & O.
M. & S.
7
7 g. M. & N.
4
6
6
6 &8
7
10
6
7
3
7
6< 7
fe
6
5
6
J.
J.
J.
J.
N.Y., ContinentalN. Bk. July 1, 1891
do
do
Jan. 1, 1917
do
do
Jan. 1, 1917
do
do
1907 & 1923
Nashville.
N. Y., Drexel, M. & Co.
Nashv., 4th Nat. Bank.
N.Y., Bank of America.
Bridgeport, Conn.
Bridgeport, Treasurer.
Philadelphia, Co.’s office
Last paid April, 1884
N. Y. L. E. & W. RR.
N. Y., Union Trust Co.
J. & J. N.Y.,OfficeN.Y.L.E &W
Newcastle, Penn.
Q .-J .
M. & S. N. Y. Central Trust Co
Various N. Haven, Mech. Bank.
New Haven.
do
do
J. & J.
A. & O. N.Hav.,N.Tradesm’s Bk
do
do
A. & O.
do
do
A. & O,
M. < N. N.Y., Mercantile Tr. Co.
fe
Nov. 1, 1909
Dec. 3, 1886July 1, 1900
Oct. 1,1887
1885
Jan. 15,1886
June 1, 1913
Mar. 1, 1886
OCt. 1, 1904
Sept., 1901
Nov. 1. 1889
1977
Jan. 1, 1889
April, 1886
1925
1888 & 1900
Oct., 1873
Jan., 1899
Apr.l ’91 & ’98
April, 1, 1909
April, 1911
1910
N esqu eh on in g V a lle y .—Owns from Nesquehoning Junction, Pa.,
to Tamenend, Pa., 17 miles; Tunnel Branch, Hauto, Pa., to Lansford,
Pa., 1 mile; total operated, 18 miles. Opened in 1870, and was leased
for 999 years to the Lehigh Coal & Navigation Co. at a lease rental of
$130,000 per annum. In Sept., 1884, the lease was modified so as to
pay 5 per cent a year only, and the stock has been extended for 20
years, with a guarantee of 5 per cent per annum.
Nevada C entral.—(See Map Union Pacific.)—Battle Mountain to
^Operations and the fiscal results in four years past (ending June 30) Ledlie, 86 miles; branch, Ledlie.to Austin, 7 miles; total. 93 miles.
Stock, $1,000,000. There are $250,000 8 per cent income bonds due
were as follow s:
FISCAL RESULTS.
1930, which are held by the Union Pacific, as also $959,OOo of the
1884-85. stock. Default was made Oct. 1,1884, on the bonded interest, and re
1883-84.
1882-83.
1881-82.
580
554
554
ceiver appointed Feb., 1885. Gross earnings in 1883, $109,351; net,
539
Miles operated.
$
$19,132; deficit over interest, &o., $25,868. Gross in 1884, $98,289; net,
$
$
$
Earnings—
649,737 $5,934; deficit over interest, &c., $39,066. (V. 40, 241.)
621,171
663,618
58',560
1,363,355 1,513.875 1,559,765 1,435,878
rk &
n
Junction
155,10 4 N.N ew amiles. H u d so to.—Owns from Bergen & Western to Newark,
148,703
148,477
130,668
Mail, express, rents. &o..
J., 6
Leased
New York Lake Erie
at a rental
of $33,000 per annum, which pays interest on bonds and 7 per cent
2,074,583 2,283,523 2,372,086 2,240,719 on the stock of $250,000. Cortlandt Parker, President, Newark, N. J.
Total gross earnings—
Total operating expenses. 1,240,991 1,274,855 l,3u3,446 1,304,002
N ew ark Somerset & S traitsville.—Owns from Newark, O., to
936,717 Shawnee, O., 44 miles. Road was completed in 1871. Leased to Sandusky
833,592 1,008,668 1,068,64)
Mansf. & Newark for 14 years from Jan. 1,1872. Operated by the Balt.
58-19
54-94
55-80
59-81
P. o. operat’g ex. to e’m ’gs
& Ohio, which pays 30 per cent of gross earnings, and advances any
INCOME ACCOUNT.
1881-85. additional amount necessary to meet the interest on the debt. Capital
1883-84.
1881-82.
1882-83.
stock, common, $795,400, and preferred, $218.200. Gross earnings in
$
$
$
$
Net Receipts—
936,717 1882-83, $164,781; net, $19,511; loss to lessee, $29,922. In 1883-84,
833,592 1,008,668 1,068,640
Net earnings.....................
29,072
11,947 gross $168.532; net, $757; loss to lessee, $49,802. In 1884-85, gross,
77,247
39,006
Miscellaneous receipts...
$118,430; deficit. $29,102; loss to lessee, $64,631.
948,664
N ew bu rg D uteliess & C on n ecticu t.—Owns from Dutchess June.
1,035,915 1,097,712
872,598
Total in com e.............
N. Y. to Millerton, N. Y., 59 miles. The Dutchess & Col. RR. was sold
$
$
$
$
Disbursements—
682,273 Aug. 5,1876, and this company was organized Jan. 8,1877, by the pur
662,320
650,972
583,577
Interest on debt & taxes.
266,802
chasing bondholders. In addition to above incomes, there are $150,000
300,164
Dividends..........................
212,432
1st mort. 7s, due in 1907. In 1882-83, gross earnings $207,675;
Extensions.......................
net, $12,320. In 1883-84, gross, $177,383; net, $1,022. The com
359,551
New equipment, &c.........
352,316 [ 104,465
Improvement of track ...
58,401 mon stock is $172,000 and preferred stock $715,350. John S. Schultze,
106,077
■
40,098
President, Matteawan, N. Y.
Real estate........................
248,031
N ew b u rg & N ew Y o r k .—Owns from Vail’s Gate Junction to
Greenwood Junction, N. Y., 13 miles. Leased October 5,1866, to Erie
740,674 R R at $17,500 per annum (being interest on the bonds),and operated
755,437 1,035,199
Total disbursements. 2,096,169
.
Balance.........................d e f.1,223,571 sur330.478 sur.62,513 sur207,990 now by New York Lake Erie & Western. Has no stock.
GENERAL BALANCE AT END OF EACH FISCAL YEAE.
N ew Castle & B eaver V a lle y .—Owns from Homewood, Pa., to
1881-82.
1882-83.
1883-84.
1884-85.
New Castle, Pa., 15 miles. Road in operation since 1860. Leased to
Pittsb Ft W. & Chic. RR. for 99 years at a rental of 40 per cent on gross
AS8Ct8—
Road and equipment.......15,711,4fi9 16,194,823 16,316,655 16,950,242 earnings. Lease transferred to Pennsylvania Company. There is no debt.
■
"
439,353
352,876
562,727
*81,322 In 1879 13 per cent dividends were paid; in 1880, 13 p. o . ; in 1881, 24
Assets not available.
386,040
472,590
462,940
481,314 d c •in 1882,14 p. c.; in 1883, 29 p. c; in 1884,19 p. c. Gross earnings
Inv’tm’ts in st’ks & bonds
7,187
8,387
8,722
18,132 m 1885, $171,682; rental received, $68,672; gross in 1884, $270,245;
Bills receivable.................
84,246
84,864
80,364
62,461 rental received $103,098.
Real estate....................... .
121,946
196,988
188,919
250,436
Due from agents, &c.......
N ew E n g lan d & S o u th w estern .—This road, as projected, will
416,536
325,006
300,217
264,408 extend from Brewsters, N. Y. (junction of New York & New England,
Cash...................................
New York & Harlem and New fork City < Northern), to and across the
fe
Total............................17, ,166,797 17,635,534 17,920,544 18,108,314 Hudson River by bridge at Storm King, to a connection with the Erie,
Liabilities —
$
$
West Shore, New York Ontario & Western and the Lehigh & Hudson
,670,331 6,668,363 railroads on the west side, making 26 miles of road m all The com,670,331
Capital sto ck ..........- —
6, ,670,331
,903,000 8,998,000 nanv was formed by act of the New York Legislature of 1850, as
757,000
Bonded debt (see Suff ’ t ). 8j,649,000
597,132
591,499
467,268 suliseauentlv amended, and the act of 1880, chapter 582, and claims
659,688
Bills payable.....................
102,494
42,947 the right to bridge thejHudson. The stock is $3,000.000 and the bonds
140,327
97,348
Bal’c e due individ’ls, &c.
287,970
290,905 $6 000 000, which stock and bonds are taken by the Phoenix Bridge
279,610
283,740
Int’st coupons due July 1
15,082
21,942
18,323 Company of Phoenixville, Pa., and they have contracted to build the
63,014
D ividends.........................
75,490
66,256
72,721
75,665
Pay-rolls, &c.....................
153,600
153,600 structure within two years.
153,600
153,600
Int’st on b’ds held by TJ. 8.
N ew H av en & D erby.—Owns from New Haven, Conn., to Ansonia,
3,686
3,899
15,119
Miscellaneous...................
,115,678 1,381,068 Co-m 13 miles. Capital stock is $446,600, of whioh New Haven city
513,395
948,167
Profit and loss..................
owns $200,000. New Haven City guarantees the $225,000 second
Total............................ 17,166,797 17,635,534 17,920,544 18,108,314 mortgage bonds, and has a claim of about $300,000 for money ad
vanced Negotiations have been pending between the company and the
* $502,749 was charged off to “ Road and Equipment” during the year. citv for an adiustment. Gross earnings in 1884-5, $150,737; net,
—(V.40, p. 92, 241, 253, 363, 481, 625, 741; Y. 41, p. 76, 189, 307, 331, $63,792. In 1883-84, gross, $158,206; net, $65,023. (V. 39, p. 581.)
8 5 5 ,4 4 5 , 585,721; V. 42, p. 125, .272, 397.)
N ew H a v en & N o rth a m p to n .—Operated from New Haven,
N ash v ille & D ecatu r.—(See Map Louisville A Nashville.)—Owns Conn, to North Adams, Mass., 123 miles; branches—Northampton to
from Nashville, Term., to Decatur, Ala., 122 miles. The road was Williamsburg, 8 miles; rarmmyton Conn., to New Hartford,Conn., 14
leased May 4, 1871, to the Louisv. & Nashv. RR. for 30 years from miles • South Deerfield to Turner’s Falls, 10 miles; to Tariffville, Conn.,
July 1,1872, at a rental of 6 per cent per annum on the stock. The 1 mile' leased—Holyoke & Westfield RR.. 14 miles; total, 170 mUes.
lessee assumed all the debt of the Nashville & Decatur Co. In 1882-83, In April 1881, a controlling interest in the stock was sold to New York
gross earnings, $1,034,231; net. $380,207. In 1884-85 gross, $1,061,- N e w Haven & Hartford parties. In 1884-85 gross income was $804,956; net, $466,168; interest and taxes, $291,061; surplus, $175,106.
096' net, $275,704; surplus over charges, $9,230. In 1883-4, gross,
N atchez J ack so n & C o lu m b u s.—
Owns completed road from $840,213; net, $273,640; surplus, $2,128. (V. 41, p. 688.)
Natchez, Miss.,to Jackson, Miss., 100 miles. Stock, $2,260,809. New
N ew Jersey & N ew Y o r k .—Owns from Hackensack, N. J., to
6 per cent bonds authorized but up to 1885 not issued. Floating debt Stony Point, N. Y., 25 miles; Nanuet to New City, 5 miles; Hackensack
Dec. 3 1 ,1 8 8 4 , $329,493. Earnings for 1883, gross, $177,221; net, to Erie Junction, 6 miles. Leased—Garnerviile RR., 1 mile; total oper
$54,952. In 1884, gross, $181,859; net, $58,917. Earnings for 1885, ated 37 miles. Organized Sept. 4,1874, by consolidation of the Hacken
sack’ & New York RR. and the Hackensack & N. Y. Extension RR.; re
$194,358; net, $60,923.
N au g atu ck .—Owns from Naugatuck Junction to Winsted, Conn. ceiver appointed in 1877, and the two roads were separately foreclosed.
66ia notes; leased, Watertown & Waterbury RR., 4*2 miles; total oper The present company was formed on reorganization in April, 1880.
ated, 66 miles, 5 miles of New York New Haven & Hartford being used Stock. $2,000,000 common, $800,000 preferred. In Jan., 1886, the
between Naugatuck Junction and Bridgeport. Operations and earnings Hackensack RR., previously leased, was consolidated into this comnanv.
for three years past were as follow s: 1882-83, gross, $712,865; net, Gross earnings in 1883, $217,571; expenses, including contingc«oioo,
$229,994; 1883-84, gross, $676,714; net, $225,615; 1884-85, gross, $217,354. Gross in 1384. $210.649 expenses, $202,523. (V. 4 2 ,p.
/ 651,242; net, $213,262; interest and dividend charges, $204,464.
215.)
are secured by deposit in trust of this company’s first mortgage bondsThe company had net income in the year 1884-85 about sufficient
to pay 3 per cent on the stook, but the income was applied to the re
duction of the floating debt.
___
For eight months from July 1 to Feb. 28,1885-6, gross earnings were
$1,47",480, against$l,573.406 in ’84-5; net, $595,121, against $£73,412
surplus over interest and taxes, $144,572 in 1885»6> against $217,063
A pril, 1886.]
RAILROAD
STOCKS
AN D
BONDS.
Subscriber* w ill confer a great favor by g iv in g im m ed iate notice o f any error discovered in these T a bles.
Bonds—Princi,
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due.
Amount
For explanation o f column headings, &c., see notes of
of
Par Outstanding Rate per When Where Payable, and by Stocks—Last
Road. Bonds Value.
on first page of tables.
Cent. Payable
Whom.
Dividend.
N. J. Southern—1st mort. (int. guar, by N.Y.«Sz L.B.;
Long Branch & Sea Shore, 1st mort., guar............
New London Northern—Stock....................................
1st mortgage bonds..................................................
2d mortgage...............................................................
Consol, mortgage (for $1,500,000)..........................
New Orleans ¿Northeastern—Prior lien mort., gold.
New York Brooklyn d Manhattan Beach—Stock___
h
N. Y. < Man. Beach RR., 1st mortgage..................
fe
N. Y. Bay Ridge & Jam. RR., 1st mort, (guar.)...
N.Y. B.&M.B., consol, mort., gold (for ►2,000,030)
N. Y. < Canada—1st M., sterling, guar. D H. Can.
£
.«Ss
New York Central <6 Hudson River—Stock..............
Premium bonds (N. Y. Central) ext. 10 y ’rs, ’83..
Renewal bonds..........................................................
N. Y. C. & H .,t $30,000,000 ) cout)OI1 or retr {
m o r tg a g e ...) £2,000,000 5 ooupo11 or res’ )
Debenture bonds (for $10,000,000),coup, or reg..
N. Y. Chicago < St. L —Stock ($22,000,000 is pref.)
£
1st mortgage, gold, coup, or reg...............................
2d mortgage (for $ 10.000,030)................................
Equip, bonds (principal payable $400,000 yearly)
N. Y. City < Northern—General mort........................
£
New York < Greenwood Lake.—1st mort., income ..
&
2d mort., income........................................................
New York <t Harlem—Common stock.........................
Consol, mort., coup, or reg., (for $12,000,000)___
N. Y. Lackawanna Western.—Stock, guar., 5 p.ct.
1st mortgage, coupon, may be registered.............
2d mort., guar, by D . L. & W. (for $5,000,000)___
78
io o
100
100
121
....
14
4
All.
150
993
....
840
840
523
513
513
1879
1869
1865
1872
1880
1885
1877
1885
1874
.. . .
1853
1854
1873
1873
1884
62
40
1881
1883
1882
1880
1875
156
156
132
213
200
200
1872
....
1880
1883
....
....
$600 $1,449,600
200.000
1.000
1,500,000
100
300,000
lOO&c.
387,500
500 &c.
812,000
1,000
1,372,000
1,000
1,000,000
500,000
500 &c.
200.000
500 &c.
598,000
1,000
£ 1Ò0&C 4,000,000
100 89,428,300
6,450,000
500 &c.
2,391,000
1,000
1,000 30,000,000
9,733,333
1,000
7,850,000
l,000&o
100 50,000,000
1,000 15,000,000
1,046,000
1,000
4,000,000
1,000
500 < sc. 3,697,000
S
900,000
100 &c.
1,800,000
100 &c.
8,500,600
50
1,490,400
50
1,000 11,650,000
100 10,000,000
1,000 12,000,000
4,450,000
1,000
N ew Jersey Southern.—The road extends from Port Monmouth,
Sandy Hook, to Atco, 70 miles, with branch fromEatontown to Pt. Mon
mouth, 9 miles. The property was sold in foreclosure March 31,1879 (see
Chronicle , V. 28, p. 352), and the present company was organized July
25,1879. The capital stock is $1,590,600. The property is subject to
120,000 on the Tom’s River RR. and $200,000 on the Long Branch &
ea Shore Railroad. This latter bond is endorsed by the United
Companies of New Jersey. The above mortgage is for $1,590,600, of
which $1,449,600 have interest guaranteed by the New York & Long
Branch Railroad by endorsement of the bonds, and the Central of New
Jersey agreed to assume those bonds. The road is operated as a
part of the Central New Jersey system. Suit was begun in August, ’ 85,
against the Central of New Jersey Co. for interest overdue. (V. 4 1 ,p. 189.)
N ew L o n d on N orth ern .—Owns from New London, Conn., to
Brattleboro, Vt., 121 miles, of which 100 miles leased to J. G. Smith and
others. This road has been operated since Dec. 1,1871, under lease to
the Central Vermont Railroad; the lease was for 20 years at $150,000
per year, and $15,000 for each additional $100,000 of earnings over
$510,000 per year. Consolidated mortgage bonds issued to retire all
other funded and floating debt and to pay for branch purchased from
Vermont < Massachusetts RR. In 18S4-5 gross earnings were $552,059;
fc
net, $214,606; rentals and in teest received $25 j ,464; paid interest,
$101,391; dividend (6 per cent), $90,o00; miscellaneous, $8,334 ; sur
plus, $52,739.
N ew Orleans Sc N ortheastern. Line of road from New Oileans,
La., to Meridian, Miss.,---- miles. This road belongs to the so-called
“ Erlanger System,” and the stock of $4,^20,oOO and first mortgage
bonds of $4,900,OOo are held by the Ala. N. O. & Tex. Pacific Junction
Co. (See title of that company in the Supplement.)
N ew Y o r k B r o o k ly n Sc M a n h a tta n B e a c h .—From Fresh
Fresh Pond Junction to Manhattan Beach, and branches to Bay Ridge
and Greenpoint, 20 mile?. This was a consolidation in 1885 of the N.
Y. Bay Ridge & Jamaica RR.. the N. Y. & Manhattan B. Railway Co.
and the L. I. City <s Man. B. RR. Co. The railroads are leased for 99
S
years from 1882 to the Long Island RR. Co. at 35 per cent of gross
earnings, but the rental guaranteed to be at least $95,980 in each year.
Of the stock $650,000 is preferred for 7 per cent, but not cumulative.
—(V. 42, p. 215, 479.)
N ew Y o r k Sc C anada.—Owns from Whitehall, N. Y., to Rouse’s
Foint, N. Y., 113 miles; branches: Ticonderoga, N .Y ., to Baldwin,
N. Y., 4 miles; Plattsburg, N. Y., to Ausable, N. Y., 20 miles; West
Chazy to Province line, 13 miles; total operated, 150 miles. The whole
line was completed Sept. 18,1876. The road is leased and virtually
owned by the Delaware & Hudson Canal ’Company, which guarantees the
bonds. The stock is $4,000,000. Earnings 1883-84, gross $695,265;
net, $162,720; loss to lessees, $74,674. In 1882 83, gross, $717,667;
net, $116.793; loss to lessees, $118,131.
N ew Y o r k Central Sc H u d s o n .—L ine op R oad .—Owns from
New York City to Buffalo, N. Y., 442 miles; branches on New York
Central division, 307 miles; total owned, 749 miles; lines leased—
Troy & Greeenbush, 6 miles; Niagara Bridge & Canandaigua, 98 miles;
Bpuyten Duyvil & Port Morris, 6 miles; New York & Harlem, 127 miles;
Lake Mahopac, 7 miles; total, 245 miles; grand total, 993 miles. The
second track owned and leased is 521 miles; third track, 318 miles;
fourth track 299 miles; turnouts, 590 miles—making a total of 2,394
miles of track owned by the company, and 325 miles leased, 2,720
miles in all. Also operates the Dun. All. Val. & P. RR., 104 miles, but
reported separately. In Dec., 1885, a lease for 475 years was taken of
the West Shore Railway, about 472 miies.
Organization , &c. -This company was formed by a consolidation
of the New York Central and the Hudson River railroads Octobei
1,1869. The New York Central was a consolidation of seveial roads
under a special law of April 2,1853. The Albany & Schenectady Rail
road, opened September 12,1831, as the Mohawk & Hudson, was the
first railroad built in the State of New York. The Hudson River Rail
road was chartered May 12,1846, and road opened October, 1851.
Stock and B onds.—The famous scrip dividend of 80 per cent on the
capital stock of the New York Central was made in December, 1868.
and on the consolidation with the Hudson River road (Nov. 1,1869) a
further dividend of 27 per cent was distributed on the New York
Centra] stock and 85 per cent on the Hudson River stock. In November, 1879, 250,000 shares ($25,000,000) were sold to a syndicate
o f bankers by Mr. W H. Vanderbilt at the price of 120, and 100,000
shares sold afterwards. Dividends of 8 per cent per annum haa been
paid since 1868, but m 1885 only 3*2 per cent was paid. Prices of
stock since 1870 have been: In 1871, 8414® 1036«; in 1872, 89®10178
.in 1873, 7778®1061 ; in 1874, 9578®1055g; tn 1875,100® 1073s; in
2
1876, 96®H 7*3; in 1877, 85*4® 10944; 1878, 103%®115; in 1879,112
® 139; in 1880,122® 1553s; in 1881,130*4®155; in 1882,12388® 138;
in 1883,111*2® I29i8; in 1884, 83*a@122; in 1885, 81%®107*4; in 1886,
to A pill 16, 9938® 107 *2.
The debenture bonds of 1884 must be included in any new mortgage
issued prior to 1902.
Operations , Finances, &c.—The New York Central & Hudson
River RR. has an exceptionally rich local traffic, but the profits also
depend very much upon haimony among the trunk lines. In the fiscal
year 1881-82 the profits were insufficient to pay the 8 per cent divi
dends, and the deficit was $1,401,608. In 1882-83 the surplus over
dividend payments was $179,025. In 1883-84 the deficit was $2,490,885, and in 1884:85 the deficit was nominally $953,651, but including
the dividend paid in Oct., 1884, within that year the total deficit was
§
6
7
l*fl
6
7
5
6 g.
J. & J.
Last paid July,’85
J. « s D.
S
New York.
Q.—J.
New London, Office.
A. « s O. N. Y., B’k of N. America
S
J. & D.
do
do
J. « s J.
S
do
do
A. & O.
New York Agency.
July 15, 1899
Dec. 1, 1899
April 1, 1880
Sept., 1885
July, 1892
July, 1910.
Nov. 1, 1915
7
J. « s J. N. Y., Corbin Bank’g Co
S
7
J. « s J.
S
do
do
S
do
do
5 g. A. « s O.
S
6 g. M. « s N. London, Baring Bros.
1
Q .-J . N.Y., Gr. Central Depot,
5
M. « s N.
S
do
do
6
J. « s D.
S
do
do
7
J. « s J.
S
do
do
S
6 g. J. « s J. New York and London.
5
V « s S. N.Y., Gr. Centr’l Depot.
I. S
Jan. 1, 1897
July, 1896
Oct. 1, 1935
May 1, 1904
April 15, 1886
May 1, 1893?
Dec. 15,1887
Jan. 1, 1903
Jan. 1, 1903*
Sept. 1, 1904-'
J. « s D.
S
Last paid Dec.,’ 84
M. « s S.
S
Last paid Mch. ’35
A. « s O.
S
Last paid Oct., ’84
M. « s N.
S
Last paid Nov. ’81
F. « s A. New York, Co.’s Office.
S
M. & S.
do
do
J. « s J. N.Y., Gr. Central Depot.
S
J. & J.
do
do
M. « s N.
S
do
do
Q.—J.
N. Y. by D. L. « s W.
S
J. « s J.
S
do
do
F. & A.
do
do
Dec. 1, 1921'
Mar. 1, 1923*
Oct. 1,’85 to ’94=
May 1, 1910'
6 g6
7
6
7
7
2 C. L.
2 0. L.
7
Ia
*
6
5
April 1, 1886r
April 1, 1886
Mav. 1900
April 1, 1886
Jan. l ' 1921
Aug. 1, 1923
$2,295,072. The large decline in net income was partly owing *0 gen
eral depression, but also to the building of the New York T est Shore
V
Buffalo road.
In Deo., 1885, R lease of the West Shore Railway was taken for
475 5 ears and the bonds of $50,000,000 at 4 per cent guaranteed, by N
Y. Central & Hudson, and $10,000,000 West Shore Stock taken as
consideration. The fiscal year ends Sept. 30.
For the quarter ending Dec. 31.1885, gross earnings were $6,876,601.
against $6,810,169; net earnings $2,741,392, against $2,877,083;
interest, taxes and rentals, $ l,i6 7 ,000, against $1,500,000; dividends
$891,283, against $1,341,424; surplus $380,109, against, $35,659.
Annual report for 1884-5 in Chronicle, V. 41, p. 744.
Year
Net Income, Diviending Passenger Freight (ton)
Gross . over exp., dends,
Sep. 30. Mileage.
Mileage.
Receipts, int.& rents, p. c. Surplus
1881.373,768,980 2,646,814,098 $32,348,395 $7.892.827 8 $754 484
1882.432,243,282 2,394,799,310 30,628,781 5,743,904 8 *1,401.608
1883.429,385,561 2,200,896,780 33,770,722 7,327,156 8
179 024
1884.387,829,886 1,970,087,115 28,148,667 4,668,759 8 *2,490 885
1885.438,397,774 2,137,824,205 24,429,141 2,176,342 3*a *953,651
* Deficit.
—(V. 40, p. 92, 197, 214, 281, 304. 481, 583, 597, 763; V .4 1 ,p .ll3 ,
161, 445,527, 612,653,689, 709, 721, 722, 7 4 4 ; V. 42, p. 22, 198,217.)
N e w Y o r k C hicago Sc St. L o u is.—Buffalo, N. Y., to Grand Cross
ing, 111., 513 m iles; leased in Buffalo 1*3 miles; Grand Crossing to Chi
cago 9 miles; total, 523 miles. This Company was formed in 1881 and
became known as the “ Nickel Plate.” Of the stock $22,000,000 is
preferred 6 per cent. In October, 1882, the sale of a majority of the
stock to a syndicate took place, including 124,800 shares of common
stock and 140,500 preferred, at the respective prices (as reported) of 17
and 37. The L. Sh. & Mich. So. owns this stock.
On March 23,1885, D. W. Caldwell was appointed receiver on appli
cation of second mortgage bondholders, and default was made ou equip
ment bonds April 1. These bonds are secured ou the rolling stock,
which was purchased in 1882 for $6,000,000, of which $2,000,000 was
paid in cash. The trustees can take the rolling stock and sell it, but
there is no lien on the road. The first instalment of principal was due
Oct. 1, 1885: default on the first mortgage interest occurred June 1,
1885. The bondholders’ committee as constituted December, 1885,
and their proposed method of action, were given in V. 41, p. 653. In
Sept.. 1885, large judgments were entered against the company, and an
answer put in by the defendants in the foreclosure suits. See V. 41, p. 357.
Annual report for 1884 in Chronicle, V. 40, p. 567. For the last
quarter of 1885 gross earnings were $957,136, against $865,548 in
1884; net $342,227, against $260,036 in 1884.
The road was operated after Maroh 28, ’85, by the receivers, and their
returns for the year ending Sept. 30, 1885, were given in V. 41. p.
744. (V. 40, p. 270, 394, 424, 454, 508, 542, 5 6 7 , 685, 717, 741, 763;
V. 41, p. 23, 51,189, 273, 356, 392, 420, 473, 495, 585, 653, 720, 741;
V. 42, p. 60, 125,156, 187, 215., 243, 339, 463.)
N ew Y o r k City Sc N o rth e rn .—
Owns from 157th Street in 8th
Avenue, New York City (connecting with Metropolitan Elevated), to
Brewsters, N. Y., and branch, 54 miles. This company was organized
March 1,1878, and acquired the N.Y. West. ¿P utnam (formerlythe
N. Y. & Boston Railroad), sold in foreclosure March, 1876. The com
pany in May, 1880, leased the West Side & Yonkers road for 999 years,
and the consolidated mortgage was issued to take up all the other bonds,
of which $264,000 under a prior mortgage were outstanding Nov. 1,
1884. Stock is $2,990,000. Default was made in interest due May 1,1882,
and foreclosure is pending. Mr. Arthur Leary was appointed receiver
May 24, 1882. Gross earnings in $1884-5, $413,533; net, $36,154;
deficit for year, $205,146. (V. 40, p. 182, 241, 337, 588; V. 41, p. 585.)
N ew Y o r k Sc G reen w ood L a k e .—Owns from Jersey City, N. J.,
to Greenwood Lake, 48 miles; branches — Ringwood Junction to
Ringwood, 2 miles; North Newark to Orange, N. J „ 8 miles; total, 58
miles. This was the Montclair Railroad, opened in 1874. It was sold
and reorganized as Montclair <s Greenwood Lake, and again sold
S
October 12, 1878, and the present company organized. The New York
Lake Erie & Western purchased a controlling interest in the property
and now operate it. The holders of the second mortgage bonds nave
a right to pay off the first mortgage bonds of $900,000 at 105, and thus
gain control of the property. The stock is $100,000; advances due to
the Erie and to Cooper & Hewitt $132,615. Net earnings in 1882,
$20,411; in 1883, $6,475; in 1884, $5,670. Abram S.' Hewitt, Pres’t
- ( V . 40, p. 6 8 4 .)
N ew Y o r k Sc H a r le m .—Owns from New York City to Chatham
N. Y., 127 miles. From Chatham to Albany, 24 miles; the Bost. & Alb.
RR. is used. This company owns the Fourth Avenue street railroad.
The property (excfept the horse railroad) was leased April 1,1873, for
401 years, to the N. Y. Central & Hudson River RR. at 8 per cent diviidends on the stock and the interest on the bonds. The Fourth ave. horse
railroad was retained, and extra dividends are paid out of its receipts
annually in April. All operations of the main road are included with
those of the N. Y. Central & Hudson.
N ew Y o r k L a ck a w a n n a Sc W e ste rn .—(See Map o f Bel. Lack.
& West.)—From Binghamton to Buffalo and International Bridge and
branches, 214 miles; Duilt under the auspices of Del. Lack. & Western.
Opened Oct., 1882, and leased to Del. Lack. & West, for 99 years, with
a guaranty of the bonds and 5 percent yearly on the stock. The latter
guaranty is written across the face of the certificates and signed by the D.
L. & W. officials. Sept. 30,1884, owed D. L. & W. for advances $420,143
€ 6
RAILROAD
STOCKS
AND
BONDS
[V ol . XLII,
Subscribers w ill coufer a great favor by giving im m ediate notice o f any error discovered in these Tables.
IBonds—
Prmoi .
INTEREST OR DIVIDENDS.
DESCRIPTION.
Miles D íte 8ize, or
pal,When Due ,
Amount
Par Outstanding Rate per When Where Payable, and by Stocks—Last
oí
For explanation of column headings, Ac., see notes of
Whom.
Road. Bcnds. Value.
Dividen i.
Cent. Payable
on first page of tables.
N. Y. Lake Erie <6 West—Stock, common.................. 1,660
Preferred stock.......................................................... 1,660
....
1st mortgage (extended in 1867 to 1897).............
....
2d mortgage, gold (extended in 1879)....................
3d mort., gold (extended 40 years at 4ig p. ct)_
_
4th mort., gold, (extended in 1880 at 5 per cent).
5th mortgage, convertible.......................................
Long Dock Co„ old mortgage......................... .......
Do
mort., coup.,gold (for $7,500,000)
1st consolidated mortgage, gold..............................
do
do
funded coupon bonds.
N. Y. L. E. & W. reorganization 1st lien b’ds, gold
do
2d consol, mort., gold.................
do
income bonds (non-cum.).............
do
fund. coup, bds (redeem, at 105 &int.
Collateral Tr. bonds, gold, red’ble at 110...............
Car trust bonds (only $600,000 6s).........................
New York ¡6 Long Branch—S tock...............................
Mortgage bonds.........................................................
N. Y. <•N. England—Stock ($20,000.000 auth’rized)
£
Preferred stock, 7 per cent cumulative..................
"38
38Ó
2d mortgage ($3,341,000 are 6s) . ...........................
s ïi
321
New York New Haven t& Hartford'—Stock..............
Mortgage bonds, reg. (for $5,000,000)..................
Harlem & Portchester. 1st mortgage guaranteed.
do
do
2d M., coup, or reg., guar..
flew York Ontario <■Western-Common stock..........
£
1st M., gold, for $4,000,000 (redeemable at 110)..
257
123
12
12
421
421
....
1847
1879
1853
1857
1858
1861
1863
1885
1870
1878
1878
1878
1878
1885
1882
1882
....
1876
1882
1882
1893
1873
1881
1884
$100 $77,223,100
100
8,145,800
1,000
2,482,000
1,000
2,149,000
1,000
4,618,000
1,000
2,926,000
500 &c.
709,500
100 &c.
182,600
1,000
3,000,000
1,000
4,500,000
1,000 16.890,000
500 &c.
3,705,977
1.000
2,500,000
500 &c. 33,597,400
300 &c.
508,008
1,000
4,032,000
1,000
4.273.000
5.612.000
....
2,000,000
1.500.000
....
19,017,000
1,800,001
1,0*00 10,000,000
1,000
4,382,000
1,646,532
i ’do 15,500,000
IjOOO&c -2,000,000
1,000
2,000,000
1,000
1,000,000
58,113,982
3,000,000
1,000
N e w Y o r k L a k e E r ie & W e s t e r n .—L ine of R oad .—Sufferns
N. Y., to Dunkirk, N. Y .,430 miles: brandies—Piermont. 18 miles; Newfourg. 18 miles: Buffalo. 60 miles: Erie International RR.. 5 miles;
Rutherford to Ridgewood, 11 miles; leased—Montgomery & Erie RR.,
10 miles; Goshen & Deckertown, 12 miles; Newburg & New York,
13 miles; Paterson Newark. & N. Y., 11 miles; Hawley & Honesdale, 24
miles; Jefferson RR., 37 miles; Buf. Brad. & Pittsburg and extension, 78
miles: Buff. N. Y. & Erie, 140 miles; Suspension Bridge & Erie Junction,
23 miles; Rochester & Genessee Valley, 18 miles; Avon Gen. & Mount
Morris, 17 miles; Pat. & Hud., 15 miles; Pat. & Ram., 15 miles; Lockport
& Buf., 13 m iles; Buf. & Southw., 68 miles; controlled—Newark & Hud.,
-6 miles; Weehawken N.Y. & Ft. Lee, 5 miles; Northern of N. J., 25 miles;
N. Y. Penn. & Ohio and branches, 547 miles; total operated, 1,622 miles.
On May 1,1883, began to operate the New Yoi’k Pennsylvania & Ohio
under lease, and on May 14,1883, the Chicago & Atlantic road was
•opened from Marion, Ohio (on the New York Pennsylvania & Ohio), to
Chicago, 268 miles, and under control ot N. Y. Lake Erie & West, gave a
complete line from New Yorkto Chicago; but in 1885, owing to dissen
cions, this was broken.
Organization , Leases, &c.—The New York & Erie RR. was chartered
April 24,1832, and the State of New York loaned the company $3,000,000; the road was opened to Dunkirk April 22, 1851. The company
was reorganized under the name of Erie Railway Co. June 25,1861.
This Erie Railway was sold in foreclosure under the second consolidated
mortgage in 1878. The present company was organized and took
possession June 1,1878. The Long Dock Co. has stock of $800,000, all
ow ned by the N. Y. L. E. & W.; its property consists of lands and lands
under water, about 577 acres, with piers, buildings, &c.
©took and Bonds.—Preferred -stock has a prior right to 6 per cent
(non-cumulative) from the net profits, “ as declared by the board of di
rectors,” and in Jan., 1883, it was decided by the U. 8. Circuit Court that
when sufficient earnings were shown the dividend must be paid.
Prices of com. and pref. stock since June, 1878, have been as follows:
Com.—In 1878, 7 ^ 2 2 ^ ; in 1879, 21is®49; in 1880, 30@51ts; in 1881,
39%@5278; in 1882,331
4®43%; in 1883, 2678®4078; in 188-1, llis® 2 8 3 8;
in 18-^5. 91
4®27'7 in 1886, to April 16, 23®2878. Pref.—In 1878,
8;
2 1 ^ 3 8 ; in 1879, 3 7 ^ 7 8 * 8 ; in 1880, 4 7 ® 9 3 ^ ; in 1881, 80is®96ia;
in 1882,67®88V, in 1883,72 @83; in 1884, 20@ 71; in 1885, 18@57; in
1886 to April 16, 5uis®64.
The 1st consol, funded coupon bonds are secured by lien of consoli
dated mortgage. On the second consolidated mortgage coupons no fore■elt sure can take p'see rill six successive coupons are in default,
but all ot one coupon must be paid before any part of a subsequent
coupon is paid. In 1882 the reorganization first lien bonds dated 1878
were issued, and they rank next to the 1st consol, mort. and its funded
coups. In 1883 the collat’l trust bonds were issued |(the U. 8. Ti'ust
Co. trustee; see V. 38, p. 509), and redeemable at 110 on three months’
notice ; about $730,000 were so redeemed Nov., 1885. The 2d consol,
funded coupon bonds of 1885 were issued to fund three past due
coupons and the coupon of June, 1886, and the coups, are deposited as
security. These bonds are redeemable at any time at 105 and accrued
interest.
Operations, F inances, &c.—The company since its reorganization
in 1878 has become a standard gauge system. The income account for
several years showed a considerable surplus over fixed charges, but in
1883-84 the income fell off largely, and there was a deficit below the
interest requirements, and three coupons, June, 1884, to June, 1885,
on the 2d consol bond§, were passed. In Nov., 1885, it was announced
that the company had negotiated a 1lan for $7,000,000 new bonds
on the Long Dock property ('Including $3,000,000 to pay old bonds), and
the coupon of Dec. 1, 1885, would be paid if holders funded the three
coupons overdue, and that to fall due June 1, 1886. See V. 41, p. 585.
Some of the holders of car trust bonds have relinquished their right
to annual drawings of principal, and 90 per cent of the holders agreed
t o reduce their interest to 5 per cent.
For five months from Oct. 1 to Feb. 28 in 1885-6 gross earnings were
§8,849,151, against $7,8 ¿8,647; net $2,434,639, against $1,872,475.
The annual report for year ending Sept. 30, 1885, published in the
Chronicle, Y. 41, p. 609 and 652, had the following:
‘ *6*
7
5 g.
4!sg.
5 g.
7
7
7
6 g.
7
7 g.
6 g6 g.
6
5
6 g
6*5
5*
....
6*7
3*6
4
5
4
6*7
4
'fê g .
Yearly.
M. & N.
M. & S.
M. & S.
A. & O.
J. & D.
J. & J.
J. & D.
A. & O.
M. & S.
M. & S.
M. & N.
J. & D.
J. & D.
J. & D.
M. & N.
....
....
N.Y., 19 Cortlandt St.
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
New York and London.
do
do
do
do
Coupon of June,’ 86, off.
Last paid Dec. 1883.
New Y o rk * London.
N. Y., 119 Liberty St.
J. & J. Boston, Treas.’s office.
F. & A.
do
do
Boston
Various
J. & J. N.Y., Grand Cen. Depot.
do
do
J. & D.
do
do
A. & O.
do
do
J. & D.
M. & "s.
Jan. 15,1884
May 1, 1897
Sept. 1, 1919
Mar. 1, 1923
Oct. 1, 1920
June 1. 1888
July 1, 1891
Jan., 1893
Oet. 1, 1935
Sept. 1, 1920
Sept. 1, 1920
Dec. 1, 1908
Dec. 1. 1969
June 1, 1977
Dec. 1, 1969
Nov. 1, 1922
1886-1892
New York
Jan., 1905 w
Aug. 1,1902
1883-92
Jan. 2, 1886
June 1, 1903
1903
June 1,1911
Sept. 1, 1914
1881-82.
1882-83,
1883-84.
1884-85
$
$
$
$
Transp. expenses...
5,832,979 6,421,979
7,039;i55 5,96 L475
General expenses...
610,578
558,536
699,660
5 49,946
T o ta l.................. 13,088,093 15,444,583 16,358,077 14,347,516
Net earnings............
6.887,681
7,357,663
5,279,358 4,537,056
P. c. op. exp.to earn’s
65-50
64-78
69-52
69'79
The statement of profit and loss inc’ -id"-- numerous items, and refer
ence should be made to the table in Y. 41, p. 652, of which the totals are
as follows for the fiscal years ending Sept. 30,1882,1883 1884 and 1885.
1882.
1883.
1884.
1885.
Total incom e...
$7,663,335 $8,234,463
$6,356,933 $5,589,748
Total debits....
6,501,693
6,968,978
7,055,606
6,966,691
Surp.or deficit.. $1,166,642
$1,265,485 *def.$698,622 df.$l,376,943
* This allows for full interest on 2d consols, though only two months’
interest was actually paid in 1883-84 and none in 1884-85.
—(V. 40, p. 28, 92, 151,164, 182, 214, 241, 270. 281, 304, 363. 425,552,
5 6 9 ,5 8 8 ,6 2 5 ,6 4 0 ,6 5 2 ,6 8 5 ,7 1 7 ; V. 41, p. 2 3 ,5 0 ,9 5 , 161, 189, 190,
215, 273, 407, 420, 446, 495, 535. 599, 6 0 9 , 612, 613, 625 6 5 2 , 665; V.
42, p. 60, 93, 187, 207, 243, 264, 2 7 3 0 i, 431, 463.)
N ew Y o rk & L o n g B r a n c h ,- The following-named companies
were consolidated on December 21, 1881: New Yo k & Long Branch
RR., from Perth Amboy to Long Branch, 23 miles; New Egypt & Farmingdale RR., from Long Branch to Ocean Beach, 7 ; Long Branch &
Sea Girt RR., from Ocean Beach to Sea Girt, 3 ; New York & Long
Branch Extension RR., from Sea Gi rt to Point Pleasant, 3 ; Long
Branch & Barnegat Bay RR., from P oin t Pleasant to Bay Head, 1;
total length, 38 miles. The Central RR. of New Jersey holds a ma
jority of the stock, and by contract of Jan. 3,1882. the Penn. RR. and
Central of N. J. agree to pay 32 p. ct. of gross traffic—$206,000 per year
as a minimum to $240,000 as a maximum. When thePliila.& Read, leased
the Central of N. J., litigation was begun to deprive the Penn. RR. of
further use of this route, but a compromise was made. Gross earn
ings for the year 1883 were $544,390 and deficit on operations $35,383.
Interest charge, $90,000 and dividend of 1% per cent $35,000, making
total deficit, $3 60,383.
N ew Y o r k & N ew E n g la n d .—The mileage owned is as fol
lows: Boston to Hopewell Junction, 215miles; Wicopee to Newburg, 3
miles; Providence to Willimantic, 58 m iles; branches—Newton, Mass.,
to Woonsocket, R. I., 28 miles; East Thompson, Conn., to Southbridge, Mass., 17 miles; Elmwood to Dedham, Mass., 1 ^ m iles; Charles
Riv. to Ridge Hill, Mass., 2 miles; other branches, lLj miles; total owned,
326 miles. Leased—Franklin to Valley Falls, 14 miles; Vernon to Rock
ville, 4 miles; Springfield to E. Hartford, &c., 34 m iles; Norwich & Wor
cester RR., 66 miles; total leased, 119 miles; also has running arrange
ments over 26 miles more. Total, 471 miles. Controls Norwich & N. Y.
Steamer line.
The former Boston H artford* ErieRailroadbecame insolvent and was
succeeded by this company, formed in 1873. In 1878-79 the company
acquired the Hartford Prov. & Fishkill RR. Since the completion of
the line to Fishkill on the Hudson in 1883, the through traffic rates
have been demoralized, and the N. Y. & New England has not yet
realized the full benefit of that extension.
On January l, 1834, Mr. C. P. Clark, the President, was appointed the
receiver, and so remained till Jar. 1, 1886, when the road was returned
to its owners. For the car trust bonds 2d mortg. bonds were issued,
bearing 3 per cent to Feb. 1890, 5 per cent to Feb. 1892 and 6 for bal
ance of term ; the rolling stock was sold and bought in by the receivers in
Sept., 1885. See V. 41, p. 357. It was voted in Sept., 1885, to offer
$2,000,000 of 7 per cent cumulative preferred stock at par; and this
stock, taken by stockholders, by creditors and others, cleared off the
floating debt.
Mr. W. T. Hart, the President, remarks in his report for 1834-5 that
after paying all charges for the year, including interest on the bonds,
there was a deficit in the year’s inoome of $113,460, and then says :
“ It is true that the charges payable out of income for the year
OPERATIONS AND FISCAL RESULTS.
are less than this amount by $44,000, representing coupons
Operations—
1881-82.
*1882-83.
1883-84.
1881-S5.
funded by the company in its second mortgage bonds, and
Passengers carried..
6,784,195 6,934,724 6,734,045 7,209.054 if considering
only the receiver’s income
and disburse
Passenger mileage .. 225,130,883 247,147,117 235,105,058 250,635,115 ments, the deficit
should
amount,
Rate $ pass. $ mile
1-947 cts. 1-969 cts.
2-189 cts..................... and so be stated at $69,460. Thebe reduced by to this of other
amount charged
‘rent
Freight (tons) moved
11,895,238 13,610,623 16,219,598 14,959,970 roads’ includes a payment of $72,675 to the Norwich & Worcester road
Freight (tons) mil’ge 1954389710 2306946892 2498888976 2331778927 during the year. This may not be expected as a future charge, the
lv.rate $ ton $ mile
0-749 cts. 0-7&0cts. 0-685 cts.
.......
rental of that road having been reduced, as is explained in this report.
Lam ings—
$
$
$
$
A fair
that your road
iassenger.................
4,384,510
4,632,229 4,675,872 3,936,793 earned statement of the matter is, technically it has has substantially
its
failed to do so by
freight...................... 14,642,123 17,213,621 15,773,004 13,813,249 $113,460. fixed charges, although
The most important question is whether these net results
ail, expr’s,rents, Ac.
949,136
956,396 1,188,559 1,134,530 have been obtained by neglecting repairs and renewals, and thereby
Total gross eam’gs
19,975,774 22,802,246 21,637,435 18,934,572 lessening the value of the property. Upon this it may be stated that the
" * in 1883-84 and since the N. Y. Pa. & Ohio statistics are included, RR. Commissioners of the several States, in giving the result of their
but in 1882-3 they were included for five months only. Figures of traffic official examinations of your road, speak very highly of its condition.”
Gross earnings for five months from Oct. 1,1885, to Feb. 23,1886,
do not include coal and supplies for the use of the two companies.
1881-82.
1882-83.
1883-84.
1881-85. $1,499,913, against $1,256,721 in 1384-85; net, $560,241; against
$354,251.
Operating expenses—
$
$
$
$
The operations of the Norwich & Worcester road are kept separate.
Maintenance of way. 1,995,368
2,720,174
2,602,368 |2,369,045
Maintenance of cars. 1,009,662
1,299,986
1,247,324 1,305,864 See annual report for year ending Sept. 30,1885, in V. 41, p. 686. Oper
ations, &c., for three years past w ere:
Motive p ow er..........
3,639,506 4,443,908
4,749,570 4,158,186
A p r il , 1886. j
RAILROAD
STOCKS
AND
BONDS.
67
Subscribers w ill confer a great favor by giv in g im m ediate notice o f any error discovered in these T a bles.
________________DESCRIPTION.________________ I
'Bonds—Princi
INTEREST OR DIVIDENDS.
Date Size, or
pal,When Due.
Amount
For exn'anation of column headings, &c., see notes of
of
Par Outstanding Rate per When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
New Tor/e Penn. < Ohio—Prior lien bonds, goid,$&JB
&
1st mort., gold (no foreclosure till 1895,) $ & £ ..
2d mortgage, incomes. $ & .£ ..................................
3d mortgage, incomes, $ & £ ..................................
N. T. Phita. < Norfolk—1st mortgage, gold.............
£
Income mortgage, non cumulative..........................
N.Y. Pittsburg < Chic.—1st M., gold ($18,000 p. m.)
tN. Y. Prov. <6 Boston—(Stonington)—Stock.............
First mortgage............................................................
1st mortgage (Stonington to New London)............
N Y.Susqueh.dt Western— mort., Midland of N. J.
1st
1st mort., gold (2d on 73 miles)...............................
Mortgage, gold, on Paterson Extension...............
Debenture bonds........................ , ............................
Scrip for coupons (redeemable at option).............
Car trust certificates ...............................................
N. Y. Tez < Mex.—1st M,. gold, 1. g. (for $8,000,000)
£
N.Y. Woodhaven < Rockaway—1st mortgage, coup .
&
Income bonds, non-cumulative, reg........................
Car trusts, secured by lst mortgage bonds..........
Niagara Bridge < Canandaigua—S tock..................
&
Norfolk Southern—lst mortgage, gold.....................
2d mortgage, income (not cumulative)..................
Sinking fund debenture certificates.......................
Funded int. bonds ($270,000 secured by coupons)
Norfolk < Western.—Common stock..........................
&
Preferred (6 per cent) stock.....................................
General mortgag, gold (for $11,000,000).............
ls t M., gold, on New Riv. div, (coup, or reg.)........
Improv. & Ext. mort., gold, ($8,00.>,000 author’d)
Adjustment mort., gold (red’ble after ’94 at 110).
427
460
460
460
....
....
” 82
50
12
73
61
....
16
Ï00
75
75
5ÏÔ
510
428
80
510
510
1880 $500&c. $8,000.000
6 g- M. & S. London and New York.
1880 500 &c. 44,093,000
7 g. J. & J.
do
do
1880 500 &c. 14,500,000
do
do
5 g. M. & N.
5 g. M. & N.
1880 500 &c. 30,000,000
do
do
1,848,600
1883
6 g- J. & J.
6
1,000,000
1883
....
1881 500 &c.
New York Agency.
(?)
6 g • J. & "j.
_
2
3,000,000
100
Q.—F. N. Y., Central Trust Co.
1,000,000
7
J. & J.
1869
1,000
do
do
4
300,000
A. & O.
1881
1,000
do
do
6
3,500,000
A. & O. N. Y., Nat. Park Bank.
ISSO 500 &c.
6
2,500,000
J. & J. Paid *2 cash, ^ scrip.
1,000
1881
6
I. & D.
250,000
1881
1,000
6
F. & A. Paid *2 cash, ^ scrip.
600,00 )
1882
500
6
93,000
....
1885
831,420
6
Quar.
....
....
1882
3,000,000
500
6 g. A. & O.
N. Y ., So. Pac. Co.
600,000
1882
1,000
6 g. J. & J.
Treasurer’s Office.
1,000,000
6
....
1885
6
F. & A.
180,213
3
A. & O. N. Y., Cent. RR. Office.
1,000,000
100
900,000
1880
1,000
6 g. M. & S. Int.fund. from 8 ep.l,’84
Yearly.
6
1,000,000
1881
1,000
250,000
6
A. & O. Int.fund. from Sep.1,’ 84
1881
1,000
6
’80-’82
345,000
300
Various
6.884,700
100
100 18,000,000 3*2 scrip. Q.—Mcb
6,699,000
1881
1.000
6 g. M. & N. N. Y. and Philadelphia.
1882
1.000 2,000.000
do
do
6 g- A. & O.
1883
2,500,000
1,000
6 g. F. & A.
do
do
1884
1,500,000
1,000
7 g. Q .-M .
New York and Phila.
Av.
Passenger
Freight (ton)
Gross
Net
Years.
Miles.
Mileage.
Mileage.
Earnings. Earnings.
1881-82... . . . 380
55,853,672 103,868,653 $3,268,810 $909,194
1882-83... .. . 384
53,815,074 153,213,910 3,571,858
385,480
1883-84... ... 382
54,299,316 138,534,292
3,362,032
420,406
1884-85... ... 382
58,818,387 107,639,953
3,288,946 1,081,366
—(V. 40, p. 28, 120,152, 182, 269, 338,363, 394, 425, 454, 508,542,
569, 626, 652, 717, 742; V. 41, p. 24, 50, 76, 102, 134, 242. 273, 331,
357, 392, 420, 463, 495, 527, 5 5 5 , 556, 585, 612, 654, 6 8 6 , 722, 745;
V. 42, p. 60, 61,156, 187, 243, £04, 393, 431,463, 487.)
N ew Y o rk N ew H a v en Sc H a rtfo rd .—Owns from Harlem June
N. Y., to Springfield, Mass., i 23 miles; branches to New Britain, Middle,
town andSuffleld, 18 miles, leased—Harlem & Portchester RR., 12 miles;
Shore Line RR., 50 miles; Boston & New York Air Line and branch, 54
miles; Stamford & New Canaan Road, 8 miles—total operated, 263
miles. This was a consolidation July 24, 1872, of the New York & New
Haven and the Hartford & New Haven railroads. The company uses
the N. Y. & Har. RR. from Williams hridge into N. Y. City and pays a
large rent therefor. The company leases the Harlem River & Port
chester Railroad, and guarantees the bonds. In November, 1882, the
lease of the N. Y. & Boston Air Line for 99 years at 4 per cent per an
num on the preferred stock was made. In Sept., 1882, the stock of the
Hart. & Conn. Val. road was purchased. In April, 1881, a controlling in
terest was bought in the N. Haven & Northampton RR. stock by parties
in the interest of this company. In 1883 the mortgage for $5,000,000 at
4 per cent was authorized, to be issued as required in making improve
ments on the main line.
Fiscal year ends September 30. Annual report was in V. 42, p. 59.
For the year ending Sept, 30, 1885, the total income was $6,895,824,
against $6,887,258 in 1884; net earnings, $2,416,536, against $2,23 2,215. (V. 40, p. 6 0 , 214, 588; V. 41, p. 162, 586; Y. 42, p. 59, 243.)
N ew Y o r k O ntario Sc W e ste rn .—Owns from Oswego, N Y., to
Cornwall, N. Y., 273 miles; branches to New Berlin, 22 miles; to Delhi,
17 miles; to Ellenville, 8 miles; total owned, 320 m les. By contract
has right over West Shore RR. from Cornwall to Weehawken, 52 miles;
total operated, 372 miles.
This was the New York & Oswego Midland. Main line was opened
July, 1871. Default was made in 1873, The main line was sold in fore
closure November 14, 1879. The present company was organized
January 22, 1880. From assessments about $10,000,000 was realized.
Of the $4,0t 0,000 of 6 per cent first mortgage bonds $2,000,000 were
used to retire the preferred stock, of which all but $210,000 was retired
b y March, 1886, and $1,000,000 remained in the treasury for future
requirements. A majority of stockholders assented to this issue of
bonds. (See Y. 4?, p. 394.) This company was closely allied and en
tangled by contracts with the New York West Shore & Buffalo RR.
By agreement with the new West Shore Co. in January, 1S86. the N. Y.
O. & W. took title to the road, Middleton to Cornwall, and a right to run
its trains over the West Shore from Cornwall to Weehawken by payment
of a fixed sum per mile for trackage, and was also discharged from all
liability under the foimer lease and on the terminal bonds.
In the year ending Sept. 30,1885, gross earnings were $1,882,134;
net, $229,374. See annual report in V. 42, p. 123. (V. 40, p. 1 1 9 ,1 8 2 ,
481, 508; V. 41. p, 216, 242, 273, 603, 722; V. 42, p. 93, 1 23, 125,
272, 304, 387, 3947)
N ew Y o r k P en n sy lv an ia Sc O h io.—Owns from Salamanca,
N. Y., to Dayton, O., 388 miles; branches—to Oil City, 34 miles; to
Silver Creek, O., 2 miles; total owned, 424 miles. Leased lines—
Cleve.& Mahon. RR., 81 m.; Niles & New Lisbon RR., 36 m.; other small
branches, 32 m.; total oper ated, 573 miles. Changed to standard gauge
June, 1880. Formerly Atlantic & Great Western Railway Sold July
1, 1871, and leased to Erie on May 1,1874, but lease not carried out
Again sold Jan. 6, 1880, and reorganized by a London committee
ox stock and bond holders. (See V. 30, p. 143.)
Fivetrustees exercise the voting power of the new stock until the third
mort. bondholders receive 7 per cent interest in cash during three years.
The first mortgage bonds bear 7 per cent, whatever portion of this that
may not be earned to be payable in deferred warrants, to be capitalized
in bonds of the same class; payment of interest to become absolute not
later than July 1,1895, and until July 1,1895, the right to foreclose
the mortgage is suspended. On the second and third mortgages there
is no right to sue the company or to foreclose. The stock is - preferred
$10,000,000; common, $34,999,350. The deferred warrants, Sept 30,
1885, were $2,076,665. Bonds above are also secured on leasehold
estates.
From May 1,1886, leased to N. Y. Lake Erie & Western. The rental
will be 32 per cent of all gross earnings up to $6,000,000, and 50 per
cent of all gross earnings above $6,000,000, or until the gross earnings
are $7,200,000, and then 35 per eent of all earnings. But I f 32 per cent
o f the gross earnings should ever be less than a specified minimum sum
o f $1,757,055 to be paid yearly, then the deficit is to be made up without
interest out of the excess in any subsequent year. Out of the rental paid,
the N. Y. P. & O. has to pay its int. and rentals, and for two and a half
years a payment of $260,346 a year to the car trust.
Earnings for year ending Sept. 30,1885, $5,065,161; net, $1,381,224;
rental to N. Y. P. & O., $1,621.044; loss to Erie, $239,820. (V. 40, p. 28,
542, 742; V. 41, p. 76, 102, 161, 473.)
N ew Y o r k P h ila d e lp h ia Sc N o rfo lk .—Operates from Delmar,
Del., to Cape Charles, Va., 94 miles, and King’s Creek, Md., to Crisfield,
Maroh 1, 1895
July 1, 1905
May 1, 1910
May, Ì915 "
Jan.“ 1, 1923
Oct. 1,1933
July i , 1921
Feb. 10, 1886
Julv 1 / 1899
April 1 ’ 1901
April i , 19ÌO
July 1,' 1911
1911
Aug. 1, 1897
1895
1887-1893
Oct. 1, 1912
Jan. 1, 1902
Jan. 1, 1912
Aug. ] , 1890
April 1, 1886
Sept. 1, 1920
Jan. 1, 1970
Oct. 1, 1892
1892 & 1920
Jan, 15,1884
May 1, 1931
A p r ili, 1932
Fèb. 1, 1934
Dec. 1, 1924
17 miles; total, 111 miles. Successor of the Peninsula RR. Co. of Va.:
Jan. 1, 1884, purchased the Eastern Shore (Md.) RR., Delmar to Crisfield, 38 miles. Capital stock Dec. 31, 1884, $1,714,375. Gross earninga
in 1884, $123,526; net, $50,236; interest on bonds, $55,920. A. J.
Cassatt, President, Philadelphia.
N ew Y o r k P ittsb u rg & C h icago.—This was the projected line,
from Red Bank, Pa., to Huntington, Ind*.and to Chicago, forming a west
ern connection for the Central of N. J. The company was building from
Wampum. Pa. to Marion. O., 165 miles, and the whole route was to ex
tend from New York City to Marion, O Henry Day, N. Y., Is trustee
of the mortgage, ana Gen. J. 8. Negley, Pittsburg, is President.
N ew Y o r k P r o v id e n c e Sc B o s t o n .—Owns from Providence, R.
I., to Groton, Conn., 62 miles; Warwick RR., 10 miles; Pontiac branch,
4*2 miles; operates also Pawtuxet branch roads, 5 ^ miles; total oper
ated, 82 miles. Owns a majority interest in the Providence
Stoning
ton Steamship Line, which has a capital of $1,400,000. Gross earnings
iu 1883-84, $1,185,330, against $1,139.886 in 1884-85; net earnings,
$457,675, against $378,370. (V. 41, p. 7 20.)
N ew Y o r k Susquehanna Sc W e s te r n .—
Jersey City to Grave
Place, 101 miles; Two Bridges, N. J.. to Unionville, N. Y., 21 miles; other
branches, 12 miles; leased—Unionville, N. Y., to Middletown, N. Y., 14
miles; Lodi Br., 2 miles; Penn. RR. trackage, 2 miles; total, 152 miles.
The New Jersey Midland was built as a connecting line of the New
York & Oswego Midland, and went into receiver’s hands Maroh 30,
1875, and was sold in foreclosure Feb. 21,1880, and the Midland o f
New Jersey was organized. The New York Susquehanna & Western was
a consolidation in June, 1881, of the Midland of New Jersey, the Pater
son Extension, the North Jersey, the Pennsylvania Midland and the Mid
land Connecting railroads. Stock, common, $13,000,000; preferred
(cumulative 6 per cent), $8.000,000. The amounts of stock were reduced
in 1882 from $20,000,000 com. and $10,000,000 pref. The New Jersey
Midland junior securities were exchangeable into stock of this company
on certain terms, and the status of the exchanges up to Jan. 1,1835,
was stated in the Chronicle , V. 40, p. 596.
In Jan. and July, 1885, and Jan. 1886, the holders o f N. Y. Sus. & W.
mortg. bonds and debentures were asked to fund in scrip one-half of
the coupons then due, the other half being paid in cash. See report in
Chronicle, V. 40, p. 596. Income account for 1884 and 1885 was as
follow s:
1884.
1885.
Gross earnings..................................................$1,034,208
$1,092,354
$416,520
$474,834
Net earnings...........................................
Interest*........................................................... $411,000
$411,000
Rentals............................................................
25,000
25,000
Car trusts..........................................................
83,192
83,192
Total charges............................................ $519,192
$519,192
Deficit....................... . ...................................... $102,622
$44,318
* The company paid only half interest (except on N. J. Midland and
Paterson extt nsion bonds), which would reduce the above proportionatelv. (V. 40, p. 28, 182, 241, 330, 5 9 6 , 625, Y. 41, p. 473, 586; V.
42, p. 22, 61, 215.)
N ew Y o r k T ex a s Sc M e x ic a n .- Line projected from Rosenburg
Junction, Texas, to Brownsville, 350 miles. Completed Rosenberg to
Victoria, 92 miles. Mortgage $22,850 per mile, covering 5,120 acres
of land, being half of the grant, which is 10,240 acres per mile, if it
can be oDtained. Stock, $2,000,000. In September, 1885, sold to So.
Devel. Co. and is operated by the So. Pacific. (V. 41, p. 273, 446, 7451
Y. 42, p. 243.)
N ew Y o r k W o o d h a v e n Sc R o c k a w a y ,—Owns from Glendale
Junction to Rockaway Beach. 103i m iles; leased—Glendale Junction to
Long Island City, 6*2 miles; Fresh Pond to Bushwick, 2 ^ m iles; Wood
haven to Brooklyn, 6Lj miles; total operated, 26I4 miles. The
stock is $1,000,000. A readjustment of the finances took place iu
1882, and the new $600,000 first mortgage was issued and the $1,000,000 incomes were issued for the old mortgage bonds. These incomes
are convertible into preferred stock until 1892. In 1884-5 gross earn
ings were $153,244; net, $77,707; rentals, $43,103; balance, net in
come, $34,603, against $28,883 in 1884. J. M. Oakley, President.
—(V. 41, p. 720.)
N iagara B rid ge Sc C an an daigu a.—Owns from Canandaigua to
Suspension Bridge, N. Y., and branch, 100 miles. The road is leased in
perpetuity to the New York Central & Hudson at $60,000 per annum,
with right of lessee to commute by payment of a gross.sum of $1,000,000.
N orfolk Sou th ern .—Formerly the Elizabeth City & Norfolk. Name
changed Feb. 1,1883. Owns from Norfolk, Va., to Edenton, N. C., 73
miles. Capital stock, $1,000,000. The holders of 1st mort. and deben
ture bonds funded their interest for five years, Sept, and O c t , 1884, to
March and April, 1889, respectively. Gross earnings in 1883-84, $199,174; net, $57,144.
N orfolk Sc W e ste r n .—(See Map.)—Owns from Norfolk, Va.,to Pe
tersburg, Va., 81 miles; Petersburg. Va.. to Lynchburg, Va. 123 miles,
Lynchburg, Va., to Bristol, 204 miles; branches—Petersb’g to City Point,
Va., 10 mues; Junction to Saltville, Va., 10 miles; Sew River Division»
RAILROAD
STOCKS
AND
BONDS.
NORFOLK
AND
W ESTERN
RAILROAD
AN D CONNECTIONS.
[V ol .
XLII.
M A P O F TH E
A p r il , 1886.J
RAILROAD STOCKS AND
BONDS.
e »
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered in these Tables.
Bonds—Princl
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When DueMiles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par
of
F ot explanation of column headings, &c., see notes of
Dividend.
Road. Bonds Value. Outstanding
Cent. Payable
Whom.
on first page of tables.
Norfolk A Western—( Continued)—Car trust.
Convertible debent’res (red’ble on 30 days notice)
Norfolk & Petersburg—2d mort—
.
South Side—1st pref. consol, mort. (6s, ext.in 85)
do
2d
do
guar. Petersb rg
do
3d
do
- - v •- v , v ' Vo'l!
Virginia & Tenn.—Enlarged mort. (extend’d in 84)
do
do
4th mortgage......................
North Carolina—Stock, common...............................
Preferred stock..................................................-.......
Mortgage bonds................... -•........-........................
North Pacific Coast—1st and 2d mortgages.............
North Pennsylvania—Stock, guar................ ■............
»
2d mortgage.......... ....................................................
General mortgage bonds..........................................
Bonds secured by $1,200,000 stock— ....... .—
Northeastern (8. O.)—Stock.......................... ..............
1st m ortgage.................................. - *.......................
2d mortgage................ - - ------- - - •- ..........................
Consol, mort., gold (for $1,836,000) . . . . . . ---- . . . .
Northern (Cal.)—1st mortgage ($^300,000), g old ..
San Pablo & Tulare—1st mort. ($3,750,000)........
Northern Central—Stock.......................................
1st mortgage, State (Maryland) loan......................
2d mortgage, coupon—
........ - ..........................
Consolidated mortgage, gold, c o u p o n ................
Consolidated mortgage, gold, registered . . . . . . —
Consol, general mort., gold, s. f., coup., £ or $ —
do
do
gold, coup. $ ......................
do
do > do
d o . . ...................
2d general mort., “ A,” coupon (sinking fund) —
do
“ B,” coupon................................
Union RR., 1st mortgage (assumed).....................
«1,093,582
Yar’s $....
1884
525,000
ë
500
496,000
8
81 1868
1,000
133 1866
603,000 5, 6 & 8
1,000
133 1866 20Ó&0.
488,300
5 &6
133 1866 200 &c.
6
452,800
214 1854
5
1,000
990,000
214 1865
1,000
1,000,000
8
223
3
100
3,000,000
223
3
100
1,000,000
223 ’67-’08
8
500
210,000
6
76 1881
1,100,000
2
88
4,399,750
50
56
500 &c.
1,500,000
7
4,169,500
7
1,200,000
3
1881
6
3,40
50
899,350
102 1869
500
820,000
8
102 1869
500
322.000
8
1883
1,000
694,000
6 g.
149 1877
3,964,000
1,000
6 g47 1878
1,000
1,023,000
6
323
4
50
6,500,000
138
1,500,000
6
138 1865 500 &c.
1,126,000
6 g138 1868
1,000
2,599,000
6
138 1868
1,000
205,000
6 g.
138 1874-5 1,000
2,438,000
6 g.
1876-7 1,000
2,000,000
6 g.
1885
1,000
1,220,000
4!«g.
1,000
Ï38 1876
2,813,000
5
1,000
138 1876
1,000,000
5
500 &c.
900,000
6
_
75 miles; Flat Top extension, 7 miles. Total operated, 510 miles. Under
construction, Cripple Creek Branch, 50 miles.
„
The Atlantic Mississippi & Ohio RR. Co. was a consolidation of Nor
folk & Petersburg, South Side and the Virginia & Tennessee roads, in all
of which the State of Virginia had an interest for loans made to them.
Default on the Atlantic Mississippi & Ohio consolidated oonds was made
October 1,1873, and the road was sold in foreclosure Feb. 10, 1881,
and was reorganized as the Norfolk & Western. Of the general mort
gage, enough is reserved to take up prior liens. The dividends on
preferred stock were suspended in 1883 to pay off floating debt.
In January, 1884, the convertible debenture bonds were issued for taking
up the scrip of some $525,OcO issued for dividend on pref. stock. In
Oct., 1884, the adjustment mortgage for $1,500,000 was issued to fund
floating debt, and is redeemable after 1894 at 110. The annual report
for 1884, in V. 40. p. 623, had the follow ing:
The remarks of Mr. F. J. Kimball, the President, set forth very fully in
his report the situation of the company and the result of its operations in
1884 He stated that “ the decrease in revenue during 1884, as com
pared with 188 i, is attributable to the falling off in the quantity of and
earnings from through traffic, due to the general depression in business
prevailing throughout the country. The decrease in gross earnings
from the through passenger and freight traffic of the company was
$202 676, while the earnings from local traffic increased $81,438; the
decreased earnings of the company are therefore attributable to the
through business. The gratifying increase in local traffic confirms the
statement made in the last annual report that the growth of local busi
ness upon your lines may be considered as being permanent and con
tinuous.” * * *
„
..
,
“ Although the net income resulting from the operations of your line
during the year 1884 amounted to $240,858, the extraordinary demands
-of the year, allusion to which is made hereinafter, did not, in the opin
ion of your board, warrant th« distribution of the same to the shareIn 1885 gross earnings were $2,771,121; net, $1,121,829.
Gross earnings for two months from Jan. 1,1886, $440,695, against
$425,535; net, $161,998, against $175,266.
The earnings and expenses for three years w ere:
1884.
1882.
1883.
503
428
503
Miles ow’d & oper’d .......................
Operations—
___ __
_
_______
412,452
Passengers carried........................
263,34 1
307,927
Passenger mileage......................... 14,915,267 16,285,288 19,213,251
892,512
Freight (tons) moved......................
609,727
797,255
Freight (tons)mil’g e ............... . 133,957,973 155,521,709 171,773,275
$
$
$
Namings—
521,192
485,805
444,301
Passenger................. .................
2,025,087
2,181,711
1,842,383
161,875
145,260
143,055
Mail, express, &c.
N orthern C aliforn ia.—Owns from West Oakland to Martinez. 31
miles; Benicia to Suisun, 16 miles; Woodland to Tehama, 101 miles;
leased, San Pablo & Tulare RR.—Martinez to Tracy City, 47 miles;
total operated, 195 miles. Completed in 1878 and is leased to the
Central Pacific till Jan. 1,1885, at a rental of $47,500 per month for
Northern and San Pablo & T. In 1884, rental, $549,050; expenses»
$139,145; profit, $409,905. Rental in 1883, $633,000; expenses,
$186,026; net, $446,974. In 1881 8 per cent dividend paid; in 1882,
1%; in 1883, 3!g. The Northern stock is $6,190,500—authorized»
$8,400,000, and San P. &T. stock, $1,861,000. W. V. Huntington,
President. San Francisco.
Northern C entral.—Owns from Baltimore, Md., to Sunbury, Pa.,
139 miles; branch—
Relay to Green Spring, 9 miles; leased—Shamokin
Valley & Pctisville RR., 28 miles; Elmira & Williamsport Railroad, 78
miles; operated ai cost—Chemung Railroad, 22 miles; Elmira Jefferson.
& Canandaigua RR., 47 miles—315 miles; track of New York Lake Erie A
Western used 7 miles; total operated, 323 miles. This was a consolida>tion ot several roads in Dec., 1854. The terms of the several leases will
be found under the names of the leased roads. _ In February, 1882, pur
chased at par the stock of Union Railroad in Baltimore, $600,000,
practically making that road a pait of the Northern Central property,
subject to its mortgages. The consolidated general mortgage (gold) of
1874 was for $10,000,000 to retire all prior bonds. Of the above bonds
$2,438,000 are-sterling or dollar, interest payable in London or Balti
more, and the balance are dollar bonds, interest in Baltimore. Under
the 2d gen. mort. of 1876 $1,000,000 more may be issued as Series O.
The bonds due July 1,1885, were paid in part, and the new 4 1 substi
as
tuted for the balance.
± ••
Gross earnings for two months from Jan. 1 to Feb. 28 were $831,084 in 1886, against $793,264 in 1885; net, $317,567, against $304,550.
The business of the company depends to a considerable extent <m
coal traffic. The fiscal year ends December 31, and the report for
1885 was in the Chronicle, V. 42, p. 240.
Income account for four years was as follow s:
INCOME ACCOUNT.
1885.
1884.
1882.
1883.
$
$
Receipts—
2,235,309
2,053,482
2,256,525
Net earnings............ 1,957,852
246,167
256,362
241,914
203,156
interest* divid’ds..
7,903
7,467
4,929
80,812
Other receipts...........
2,711,154
1,516,858
1,107,164
54-4
Per ct. of oper. expen. to earn___
INCOME ACCOUNT.
1882.
Receipts—
$
Net earnings........................ ..........
1,107,163
Other receipts.................................
63,389
1,303,202
53-7
1,194,296
55-9
1883.
$
1,303,202
1884.
Total income........
$
Disbursements—
1,194,296 Rentals l’s’d lines,&o*
Interest on debt.......
Dividends..................
1,194,296 Rate of dividend.......
Miscellaneous...........
$
953,436
Tot. disbursements.
66,662
Balance, surplus...
1,170,552
$
729,359
600,000
.........- -
Total disbursements................
1,329,359
Balance*......................................... def. 158,807
1,303,202
$
810,792
525,000
1,335,792
1,020,098
def.32,590 sur.174,193
* The accumulated surplus Dec. 31,1884, was $513,390.
- ( V . 40, p .2 8 ,1 5 2, 253, 270, 426, 542, 597, 6 2 3 , 652; V. 41, p. 24,
134, 273, 393, 473, 496, 586, 613, 654, 685, 688 ; V. 42, p. 22, 61,187,
207, 304, 431.)
N orth C arolina,—Owns from Goldsboro to Charlotte, N. C., 223 m.
The property was leased Sept. 11, 1871, to the Richmond & Danville
Railroad for 30 years at a rental of $260,000 per year. Dividends of 6
per cent are paid on the stock, of which the State of North Carolina holds
$3,000,000, and the dividends thus received by the State are applied to
her bonds issued to the North Carolina RR. Earnings in 1883-84, $866,626; net. $273,323; rental, $260,000; profit to lessee. $13,323.
N orth Pacific Coast.—Owns from Saucelito to Moscow Mills, Cal.,
74 miles branch to San Rafael, 2 miles; leased, San Rafael to San
Quentin, 4 miles; total operated, 80 miles. Stock, $2,500,000. Earn
ings in 1883, $382,960: net, $64,739. Gross in 1882, $358,199; net,
$67,418.
Charleston, Office.
do
do
N.Y., Jesup, Paton & Co.
Central Pacific RR.
do
do
Baltimore & Philadel.
Annapolis.
Baltimore & Philadel.
Baltimore.
do
London & Baltimore.
Baltimore.
do
do
do
do
Northeastern (S. C .)—Owns from Charleston, S. C., to Florence
S. C., 102 miles. Leased jointly, Lane, S. C., to Sumter, S. C., 38 miles
Total operated, 140 miles. This company has earned the interest on its
bonds, with a good surplus. In Nov., 1882, the above consol, mortgage
was authorized, of which $1,142,000 to be held to retire debts of prior
lien, and $694,000 issued for betterments, equipment, <fcc. In 1883-84
gross earnings were $569,470; net, $164,9 46; in 1884-5, gross, $570,058;
net, $162,819. (V. 42, p, 2 1 .)
2,812,776
1,509,574
Total income.............................
Disbursements—
Interest........ .............
Dividends....................
Extraordinary expenses...............
M. & S.
M. & S.
J. & J.
T. & J.
A. & O.
J. & J.
Q.—J.
A. & O.
J. & J.
A. & O.
J. & J.
J. < J.
&
A. & O.
J. & J
J. & J.
J. & J.
Various.
Jan. 15, 1894
July L, 1893
1886 to 1900
1900
Jan.l,’96-1900
July 1, 1900
Men. 1, 1900
Sept. 10,1885
Sept. 10, 1885
Nov., 1888
Nov. 1, 1901
F e b .25,1886
May 1, 1896
1903
Sept. 1, 1905
In 1884-5
Sept. 1, 1899
Sept. 1, 1899
Jan. 1, 1933
Jan. 1,1907
April 1,1908
Jan. 15,1886
Irredeemable.
April 1, 1900
July 1, 1900
July 1, 1900
July 1, 1904
July 1, 1904
April 1, 1925
Jan. 1, 1926
Jan. 1. 1926
Jan. 1, 1895
North P e n n sy lv an ia .—Owns from Philadelphia, Pa., to Bethie*
hem, Pa., 56 miles; branches—Jenkint’n to Dela. River, 20 miles; Lans“
dale to Doylestown, 10 miles; Iron Hill to Shimersville, 2 miles; total»
operated, 88 miles. The Northeast Penn, and the Stony Creek roads are
operated under contract. In May, 1879, was leased to Phila. & Reading
at 6@7 p. c. on stock till 1883, and 8 per cent thereafter.
2,429,740
1,322,576
Operating
M’nthly
New York & Phila.
J. & J. Philadelphia Offiee.
J. & J. N. Y. and Philadelphia.
J. & J.
do
do
J. & J.
do
do
J. & J.
do
do
J. & J.
do
do
J. & J.
do
do
M. & S. Company Shops, N. C.
M. & S.
do
do
M. & N.
do
do
M. & N.
Q .-F .
Philadelphia Office.
M. & N.
do
do
J. & J.
do
do
M. & S.
do
do
2,241,820
$
4/ ,,256
88 ,i7 5
444,"¿72
7
154,270
2,503,368
557,313
881,180
520,000
8
41,130
2,317,311
$
461,761
935,014
520,000
8
46,511
2,489,379
$
442,203
931,27*
520,000
8
53,690
1,956,673
285,141’
1,999,623
503,745
1,963,286
354,025
1,947,165
542,214
$
* Includes rent of roads and interest on equipment.
-(V . 40, p. 93.120, 2 3 9 , 241. 253, 270, 394, 542, 569, 653. 763 ; V. 41*
p. 102. 242, 357, 496, 612, 745 ; V. 42, p. 156, 2 4 0 , 272, 387.)
N orth ern . N ew H a m p sh ir e .—Owns from Concord, N. H., to Wert
Lebanon, N. H., 70 miles; branch, Franklin, N. H., to Bristol, N. H., 13
miles ; total, 83 miles. Leased to Boston & Lowell at 5 per cent per
year on stock. In 1884-5, gross income was $254,788 ; net, $182,670;
dividends, $179,838. The only liabilities are a guaranty of $500*000
Concord & Claremont Railroad bonds, of which the Northern RR. owns
$250,000. See annual report (V. 40. p. 683) as to certain litigation.
-(V . 40. p. 152, 6 8 3 .)
N orthern o f N ew Jersey.—Owns from Bergen, N. J., to Spartill, N. Y., 21 miles; leased Sparkill to Nyack, 5 miles; total oper
ated, 26 miles. This road was opened October 1,-1859. By contrart
of April, 1869, it is operated by New York Lake Erie & Western at 35 per
cent of its gross earnings. It is understood the contract is terminable
by either party on notice. Dividends are paid as earned on the rental.
Gross receipts in 1883-4, $296,410; net, $80,009 ; interest and rental»,
$35,105 ; dividends, $35,000 ; surplus, $9,894, (V. 39, p. 48.)
7©
KAILKOAD STOCKS AND
BO^DS.
[Voi. XLII.
Subscribers w i l l confer a great fa v or b y g iv in g im m ed ia te n otice o f a n y error discovered in these T ables
DESCRIPTION.
’
*
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount Rate per
For explanation of column headings, &e., see notes of
pal,When Due.
of
Par
When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value. Outstanding
Cent. Payable
Whom.
Dividend.
Northern Central—( Continued)—
Union Railroad, 2d mortgage (assumed).
Northern. N. H.-^Stock..'.............................
83
N orthern o f New Jersey—Stock..........
26
1st mortgage, extended......................... "*
21 1878
2d mortgage.
21 1869
Northern Pacifie—Pref. stock(8 p. c., not cuin’tive) 2.365
Common stock.
2.365
Mortgage and land grant bonds, Missouri Div
205 1879
Mortgage and land gr. bonds, Pend d? Oreille Div, 225 1879
Cons. 1st M. Id. g gold, $25,000 p. m., cp. or reg. 2,020 1881
_ d o
2d m „ gold, land grant, coup. & reg.
All 1883
Dividend certificates.........................
1883
1st mort., gold, Jas. Riv. Val. RR. ($15,<XK)’p. m ) ’ 49 1886
V
Northern. Pae. Ter.Co.—1st M., g. ($5,000,000) cp..
1883
Northwestern Ohio—Stock..................................
*79
Norwich < Worcester—Stock........................
&
66
Bonds, coupon................................................
66 1877
Ogdensburg < Lake Champlain—Stock..........
£
122
Sinking fund bonds.................................. .............
1870
Mortgage Donds (redeemable July, 1890) . . . . ! . . . . ÏÏ8 1877
Consolidated mortgage (for $3,500,000)............... 118 1880
Income bonds, not cumulative..........................
1880
Ohio Central—Riv. Div., 1st M., gold, cp! or reg !!!!
1882
River Div., gold, incomes..................................
1882
Ohio < Mississippi—Stock, common.......................... 616
£
Preferred stock (7p. c. yearly, cumulative)’ ! ! ! ! ! !
1st general mortgage (for $16,000,000).
624 1882
1st consolidated mort. ($3,445,000 are s. f . ) ..
393 1868
Consolidated mortgage, sterling.......................
393 1868
$500&c
100
100
100 &c,
100 &c,
100
100
100 &c.
6 g. M. & N. London & Baltimore.
3
.) . & D. Bost.,Conc’d or Leban’n
J. & J.
New York Office.
168,000
6
J. & J. J. City, Hudson Co. B’k.
200,000
7
M. & S.
do
do
38,392,783 lU iocert
....
49,00u,000
2.233.500
6
M."&N. N. Y., Mills Building.
3,240,000
6
M. & S.
do
do
l,000&c 44.028.000
6 g. J. & J.
do
do
l,000&c 18.857.000
6 g. A. & 0
do
do
4,640.821
6
Jan’y.
do
do
MÖ0
750.000
J. & J.
do
do
6 S1,000
3.000.
000 6 g. J. * J. N.Y., Winslow, L. & Co.
2.000.
000
‘ ioo
2.604.400
4
j. I T j . Boston, 2d National Bk.
1.000
400.000
6
M. & S. Boston, N. E. Trust Co.
100
3.077.500
2
J. & J.
Boston, Office.
1.000
380.000
8
M. & 8.
do
1.000
600.000
6
J. & J.
do
500 &c.
2,305,150
6
A. & O.
do
100 &c.
999,750
3 & 6 A. & O.
do
1.000
(? )
M. & 8. Last paid, March, 1883.
1,000
(? )
—
6 S100 20,000,000
100
4.030.000
“ 34! M. & "S. N. Y., 31 Pine Street.
1,000
3.216.000
5
J. & D.
New York, Office.
1,000
6.501.000
7
J. & J.
do
do
£200
112,000
6 g. J. & J.
London.
^ N o ? f lie r n P a c if ic .—(See Map.;—Line op R oad—On June 30.1885
ir e
up as follow s: Main line—Northern Pacific Juncwon, Wis., to Wallula Junction, Oregon, 1,651 miles; Duluth to Northern
Pacific Junction, 23 miles; Northern Pacific Junction to Ashland, 88
miles; Portland to Columbia River, opposite Ealama, 38 miles; Kalama
to Tacoma, 105 miles; Cascade Branch—
Tacoma to South Prairie,
26 miles; Pasco, on main line, to Natchess River, 91 miles, total of main
fine and Cascade Br., 2,022 miles. Payallup Junction to Stuck Junction,
Fields, 10 miles; total owned, 2,047 miles. Leased—Brainerd to Min
neapolis, 127 miles; Minneapolis to St. Paul, 11 miles; Little Falls &
Dakota RR., 88 miles; Northern Pacific Fergus & Black Hills R R „ 117
miles; Fargo & Southwestern RR., 87 miles; San. Coop. & Turtle Mount.
RR., 3 6 miles; Jamestown & Northern RR., 64 miles; Sykestown Branch
RR., 1.3 miles; Rooky Mount RR. of Montana, 52 miles; Helena* Jeffer• 20 miles; total leased, 547 miles; total owned and leased,
»
2,547 miles. The road from Thompson Junction, Minn., to Duluth is
owned jointly with the St. Paul & Duluth.
„ Okg^
atio N.-This company was chartered by act of Congress July
2,1864, to build from Lake Superior to Puget Sound and Portland, Or.
The land grant was 20 sections per mile m States and 40 sections in
Territories. The road was opened 450 miles west from Duluth—to Biszurck, on the Missouri River—in 1873. The company defaulted Jan.,
J874, and the road was foreclosed August 12,1875, and reorganized by
the bondholders committee Sept. 29, 1875. New preferred stock was
Issued at the rate of $1,400 for each $1,000 bond and overdue interest.
Stocks and B onds.—The preferred stock was issued to old first mort
gage (7-30) bondholders for their bonds and overdue interest, and has a
preference for 8 per cent in each year if earned, but is not cumulative.
The common stock then takes 8 per cent, and after that both share alike.
The preferred stock claim on net income is only subject to expenditires
lor new equipment. The preferred stock is received in payment
lor the company’s lands east of the Missouri River at par and the pro
ceeds of the lands sold go to the retirement of preferred stock.
A large interest in the stock ($9,075,000 pref. and $11,211,900 of
com.), in August, 1885, was held by the “ Ore. & Trans-Continental Co.’’
a ^ S S ’ V™,82’ a dividend, in certificates of 1H 10 per cent, amounting
Y as declared on the pref. stock payable Jan. 1 5 ,188a!
*
stock since 1879 have been: In 1880, 393s@67i2:
1882’ 66%®1003g; in 1883,49%@9058; in 1884,
37J
4,a>57^s-, in 1885, 36V®653 q; in 1886 to Apr. 16, SSJflaei?». Comin°?o !R clcV l11
>
20@36; in 1881, 32%@51; in 1882, 281» @54%1888’
1 1 1884>
1
in 1885,15®314i; in 1886, to
Apr. lb, 23ifl@29.
consol, first mortgage bonds are a first lien on the main line; and
on all the lands of the company except those subject to the two divisional
mortgages and those lands east of the Missouri River which are subi ect to
the preferred stock. The issue of bonds is limited to $25,000 per miia
p i e proceeds of land sales can be applied to the payment of interest on
9? pipicipal, if the earnings of the road are insufficient.
Central Trust Co. of N. Y. is trustee. The bonds are received in payment for lands at 110 and interest, and proceeds of land sold must be
applied to redemption of these bonds at a price not exceeding 110 and
interest. Sinking fund of one per cent per annum begins in 1886. The
Missouri Division and Pend d’Oreille Division bonds
a&
amst which are reserved a like amount of the
Northern Pacific first mortgage bonds.
th.e ,2d , ort- was authorized for $20,000,000, of which
m
*^ ¿ t
0’000 ^ ere ta£ eS bT a syndicate at about 82^ net to the company.
James River Valley bonds are on the road from Jamestown, Dak.,
on the Northern Pacific south to La Moure, 49 miles, where a iunction
p T i & i o i 6 b arg? ^Southwestern; the road is leased to Northern
i'aomo for 999 years, but the bonds are not guaranteed.
grant of tbe company was 12,800 acres per mile in
states and 25,600 acres per mile m territories, and the lands earned bv
construction to June 3 0 ,1SS5, were estimated to be about 43,200,000
acres, of which about 37,731,220 remained unsold. The lands
^
ol».Bl! mar(* (Minn, and Dak. Divs.) are pledged to the preterred stock, and that stock is received in payment therefor The
general mortgage bonds cover all the other lands', the divisional mortgages having prior hens on their respective divisions. For the fiscal
f e lote S r * l 87T)Ir420*4,557 aorea and “ » » “ M "< soles (including
t o W T f.« “ '3 S jS S i'to S i W ,° 1885‘6' to a
1881-82.
1882-83.
Miles oper’d June 30
1,298
1,701
Earnings—
$
$
Passenger.................. 1,302,261
2,099,746
freigh t....................... 3,909,423
5,409,081
Mail, express, &o___
218,621
346,632
' Total....................
5,430,305
7.855,459
Operating expenses. *3.572,839 *5.336,930
Net earnings............. 1,857,466
2,518,529
* Includes rentals.
$600,000
3.068.400
1 , 000,000
2
May 1, 1900
Deo. 1, 1885
In 1885
July, 1888
March, 1889
Jan. 15, 1883
Dec. 1,1933
May 1, 1919
Sept. 1, 1919
Jan. 1, 1021
Dec. 1,1933
Jan. 1, 1888
Jan. 1, 1906
Jan. 1, 1933
July 10,1876
Mar., 1890
1897
April 1,1920
April, 1920
March, 1922
Mar. 1,1922
Mar.
June
Jan.
Jan.
1,
1,
1,
1,
1876
1932
1898
1898
INCOME ACCOUNT.
Net earnings......................................................$"54258822
Adjustment of accounts & interest balance.
* 39,’898
30 070
Dividends on investments..................
General interest a ccou n t.................. . . . . ! ! ! !
...!
1884-85.
$5,037,849
24,553
147,359
21,310
Total............................................................. $5,504,693
Disbursements—
Interest on funded debt....................................$3,535,038
412 401
±centais...................................................... .
Guarantee to branch roads ........................m
[
Contributions to sinking fund...................**3*931
Balance general interest account.......... .
318 284
$4,123,949
581,144
352,154
50,376
$5,231,071
B a i a i o ? , f i ; * : » ! « ! !
$° * 9 i,9 6 o
~ (y - £ - ? 8>,152’ 164, 183, 281, 304,338,427, 522, 542,626 637
OO?’ ZkZ’ TiZ’ 7£? ’ V- 4 l >P- 50>1 °2- 11=6.161, 216, 254, 273, 307, 3 2 9
631. 693, 473, 496, 527, 557, 612, 654, 685, 722; V. 42, p. 3 22 85 93*
156,169, 187, 243, 255, 272, 304,365, 431.)
P
*” *
.
P a c if ic T e r m in a l C o .—This company owns terminal
^a<# f
tb© Willamette River, Oregon, at Portland; East Portland
aud Albina. They are leased for fifty years, iointlv and severally to
o ^ n rt£ er i u f « m?
tbe Oregon Railway ^N avigation Co? and7the
& Cuhforma RR., with a guaranteed rentaf sufficient to pay
inteiest, sinking fund and taxes. The sinking fund begins in 1893 and
is to be sufficient tq retire the bonds by maturity, which bonds may be
drawn at 110.and interest. The stock of $3,000,000 is owned bysa id
three companies (40 per cent by Ore. Railway & Navigation Co., 40 per
cent by Northern Pacific and 20 per cent by Oregon & California r r \
nmnts to the sinking fund which is to cancel the bonds.
(V. 42, p. 207,
q M ortliw estern . O h io .—Owns from Toledo Junction to Toledo, O.,
80 miles, and leases 7 miles, from Mansfield to Toledo Junction, This
was a consolidation of the Toledo Tiffin & Eastern, the Mansfield Coldwater & Lake Michigan and the Toledo & WoodviUe roads. Leased to
S a Eo^y rat,S 2 ^ ot operating- tn 1884 gross earnings
$270,799; net, $30,628. In 1885 gross earnmgs, $269,510; net, $75,067.
N o r w ic h & W o r c e s t e r .—Owns from Norwich, Conn., to Worcester. Mass., 59 miles; branch: Norwich to Allyn’s Point, 7 miles*
total, 66 miles. Operated under temporary lease by N. Y. & New Eng
land Railroad. In February, 1885, it was voted to reduce the rental
to 8 per cent. In the fiscal year ending Sept. 30.1885, the gross reoeiDts
^ r e $750 481; net, f 322,493; payments for rentals,’$40,§50^ interest,
p^586) ’ ^lvlden<^8’ $2d6,802; surplus, $24,245. (Vol! 40, p. 241; V. 411
O g d e n s b n r g & l a k e C h a m p la in .—Owns from Rouse’s Point,
N. Y., to Ogdenabu rg.N . Y ., and branch to Maquam, Vt., 130 miles.
Gross earnings 1883-4, $595,320; net, $212,202. In 1884-85 gross eaml ? 72’ ^19; net income, $269,206; charges, $238,427; surplus.
$30,778. For mne months from April 1,1885, to Deo. 31,1885. gross
earnings were $448,168, against $482,434 same time in 1884; siu-dIus
over interest, &c., $52,181, against $31.039. (V. 40, p. 61.183 270
364, 588; V. 41, p. 1 0 1 , 496, 654,745; V. 42, p. 22/ 387.)
O h io C e n tr a l.—(River Division.)—This road extends from Coming,
O.Ohio, to the Ohio River at a place opposite to Point Pleasant, 68
miles (including branches), and from Point Pleasant to Charleston, West
Va., 58 miles; total line, 126 miles. The stock was $22,000,000
On Sept. 1st, 1883, default was made. The main line, Toledo to C om
ing, and Columbus Br., were sold April 15,1885. (See Toledo & Ohio
Central.)
Plan for the River Division was mentioned in V. 40, p. 356, embracing
the proposed issue of a new 1st mortgage at $10,000 per mile, 1st prer.
stock of $6,000,000, 2d pref., $4,0JO,000, common, $2,200,000. The
old first mortg. bonds paid 2 per cent assessment and took 1st pref.
stock; incomes paid 10 per cent assessment and got 2d pref. stock ■ O.
sales were 258'105 « « > C. common stock paid 1 per cent assessment and got one share of new
common stock for ten of o ld ; for all of the cash assessments paid new
1st mortg. bonds were given. Sale occurred October 22,1885, and re
organization took place. Latest plan for working noted in V. 42, p 487
under “ Ohio & Kanawha.” (See V. 41, p. 473.) (V. 40. p .1 8 3 208.
241, 356, 481, 542. 597,
1883-84.
1884-85. 438,473, 496, 603, 745; V. 610,p.626,653; V. 41, p. 24, 208,2 4 3 ,3 5 7 ’
42,
23, 243.)
2,547
2,668
O h io *k M is s is s ip p i.—(See Map o f Baltimore < Ohio.)—Owns from.
6
$
$
4,237,259
3,075,882 Cincinnati’ Ohio, to East St, Louis, 111., 338 miles; Louisville branch,
7,865,367
North Vernon to Jeffersonville, Hid., 53 miles; total Ohio & Miss, line,
7,446,266
500,949
712,001 391 miles; the Springfield Division, Beardstown to Shawneetown, HI.,
12,603,575 11.234,149 225 miles; total operated, 616 miles. The Eastern and Western divis
7,177,754
6,196,300 ions were sold in foreclosure and the Ohio & Mississippi Co. formed by
consolidation Nov. 21,1867.
5,425,822
5,037,849
On Nov. 17,1876, the company was placed in the hands of a receiver.
The receiver was discharged in April, 1884. In December, 1884, the
conflicting interests in the directory were harmonized.
BONDS.
AND
STOCKS
R A IL R O A D
A p r i l , 1886.]
R A IL R O A D
7 2
STO CK S
AND
B O N D S.
[V ol. XLI1.
Subscribers w ill confer a great favor by givin g im m ediate notice o f any error discovered in tbese T ables.
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount Rate per When
For explanation of column headings, &c., see notes of
Par
of
Where Payable, and by
on first page of tables.
Road. Bonds Value. Outstanding
Cent. Payable
Whom.
Ohio d Mississippi—(Continued) —
2d consolidated sinking fund mortgage...............
393 1871 $1,000 $3,761,000
7
A. & O.
New York. Office.
Spring. Div. (Sp.&Ill. S'E.) IstM . (for $3,000,000). 222 1874
1,000
2,009,000
7
M. & N.
Ohio Southern—1st mort. ($15,000 per mile)............ 132 1881
1,000
2,100,000
6
J. & D. N.Y., Corbin Bahk’g Co.
2d mort., income ($15,000 per mife).......................
132 1881
1,000
2,100,000
6
J. & D.
do
Old Colony—Stock........................
100 10,848,620
469
3 ^ J. & J.
Boston, Office.
___ 1874
Bonds (not mortgage) coupon and registered.......
1,000
1,692,000
M. & S.
7
do
Bonds
do
do
do
....... . . . . 1875
1,000
500,000
6
J. & D.
do
Bonds
do
do
do
.......
1,000
1876
1,100,000
6
M. & S.
do
_
Bonds
do
do
do
....... _
1,000
1877
2,000,000
6
F. & A.
do
Bonds
do
do
do
1,000
1882
200,000
J. & D.
Bonds for Framingham & Lowell b on d s...............
1,000
1884
416,000
Bonds of 18 8 4 ............................................................
1884
1,000
750,000
4
Bost.Clin. F.&N. B., mortgage bonds 1869-70...
43 ’ 69-’70 500 &e.
491,500
7
J. & J.
1,000
do
bonds.......................................
58 1874
400,000
7
J. & D.
do
do
mortgage bonds..................... 120 1880
1,000
1,912,100
5
J. & J. Boston, N. E. Trust Co.
1,000
Oregon d California—1st M.,gold ($20,000 p .m .).. 451 1881
9,020,000
6 g. J. & J. Last paid June, 1884.
2d mortgage, $10,000 per mile................................ 451 1883
1,000
2,610,000
7
A. & O. Last paid Oct., 1884.
Oregon Pacific—1st mort., land grant, gold.............
1.000 25,000 p.m.
1880
6 g. A. & O. New York and London.
Oregon Railway d Navigation—Stock....................... 657
100 24,000,000
Q.—F. N.Y., Farm. L. & Tr. Co.
l»a
Mortgage bonds, gold...............................................
1,000
. . . . 1879
5.690,000
do
do
6 g. J. & J.
Debenture gold loan, cou pon ..................................
1,000
1884
5,000,000
7 g. A. & O. New York or Boston.
Consol, mortgage, gold, $25,000 per mile.............
1,000
657 1885
3,000,000
5 g. J. & D.
New York Agency.
OregonShortL.—rst,gld.,int.gii.byU.P.($25,000p.m> 610 1882
1,000 15,265,000
6
N. Y., 40 Wall Street.
Oregond Trans-Continental—St’ck(for $50,000,000)
100 40,000,000
II3
Q.—J.
Trust bonds, gold (IstM. collateral) $20,000 p.m.. 497 Ï882
1,000 10,063,000
.<fe
6 g. M. & N. N.Y..Farmers’ L T.Oo.
Oswego d Rome—1st mortgage guaranteed.............
1,000
28^ 1865
350,000
7
M. & N. N.Y., Farmers’ L.&T.Co.
Income mortgage bonds'..........................................
1,000
1866
200,000
7
F. & A. N. Y., Central Trust CoConvertible bonds ...................................................
7
1866
107,000
Oswego d Syracuse—Stock, 9 per cent guar.............
50
35
1.320,400
4L3 F. & A. N. Y.. Del., L. H. W. RR
r
. . . . 1876
Consol, mortgage (guar. D. L. & W .)......................
1,000
438.000
7
M. & S.
do
do
Construction M., guar. prin. & int. (for $1,000,000) —
1883
668,000
5
M.& N.
—
The new general mortgage for $16,000,000 was authorized under
the plan o f reorganization, by which $12,784,000 was reserved
to exchange for old bonds as they mature; $2,216,000 used in
paying overdue coupons and all other claims; and $999,695 expended
for new equipment and terminal facilities. The terms of preference
o f the preferred stock state that the holder thereof shall be entitled
to receive from net earnings of the company 7 per cent per annum,
and to have such interest paid in full for each and every year before any
payment of dividend upon the common stock.
The gross and net earnings of the whole line in the years 1884 and
1885 were as follows:
1884.
1885.
Gross earnings............................................. $3,702,959
$3,679,614
O peratingexptnses...'................................ 2,926,733
2,644,646
Net earnings........................................... $776,225
$1,034,968
Gross earnings Jan. 1 to Feb. 28 were $548,610, against $568,179;
net, $116, 481, against $95,637. (V. 40, p. 742, 763; V. 41. p. 24, 102,
161, 242, 273, 357,420, 446, 527, 654, 688, 745; V. 42, p. 6L 187, 304,
887,431.)
O bio Sou th ern .—The road will extend from Springfield, Ohio,
to some point on the Ohio River. Length of road completed and in
operation Dec., 1884: Springfield, Ohio, to Wellston, with extensions
and branches, 132 miles. Stock (par $100), $3,840,000. Gross earn
ings in 1884,$473.001; net, $141,314; interest paid, $116,100;
miscellaneous, $4,539; surplus, $20,675. Gross in 1883, $364,091;
net, $117,106; rental, $1,014; interest on debt, $115,200; surplus for
year, $599. Alfred Sully, President.
O ld C olony (M ass.)—Owns from Boston to Provincetown, Mass.
120 miles, and lines to Kingston, Plymouth, Somerset Junction, New
Bedford, Lowell and Fitchburg, Mass., and to Newport, R. I.; total,
869 miles; numerous branches, 85 miles in all; leased—Fall River
Railroad, 12 miles; Dorchester & Milton Railroad, 3 miles; total
« h g th of all lines, 469 miles. Fall River Railroad was leased April
1,1882, for 99 years. In March, 1883, consolidation with the Boston
Clinton Fitchburg & New Bedford was made and an increase of stock to
$12,000,000 was voted. In May, 1884, the Lowell & Framingham was
absorbed on the terms given in V. 38, p. 540, and the 4 ^ per cent bonds
o f 1884 were issued. The annual report for 1884-85 was in Y. 41, p.
526, and had the following:
INCO E ACCOU
M
NT
1881-82.
1882-83.
$
Gross earnings.........
Net receipts—
Net earnings..........
Other receipts..........
T otalincom e....
Disbursements—
Rentals paid............
Interest on debt.......
Dividends.................
Rate of dividend....
Improvem’t account
Total disbuxse’ts
$
1883-84.
$
1884-85.
$
4,126,258
4,249,179
4,191,872
4,251,186
1,305,449
77,498
1,228,441
74,676
1,296,503
68,998
1,281,056
79,334
1,303,117
$
*191,001
*446,476
*608,006
7
57,634
1,365,501
$
46,614
556,866
723,989
7
38,032
1,360,390
$
45,594
551,424
738.122
7
25,250
1,382,947
$
449,588
345,208
489,697
98,454
1,382,947
1,303,117
1,365,501
1,360,390
* Consolidated with Boston Clinton & Fitchburg RR. in 1883.
—(V. 41, p. 526.)
Oregon & C aliforn ia.—From Portland, Or., to Ashland, 341
miles; Albany Junction to Lebanon, 12 miles; West Side Division, Port
land to Corvallis, 97 miles. Total finished, 451 miles; to be completed
to a junction with Central Pacific at the California State line, the gap
to be finished on this road being 28 miles, and on Cen. Pacific 97 miles.
The present Oregon & California RR. is a reorganization of the original
■
Oregon & California, which company was in default after 1873. The
land grant is about 4,000,000 acres; bonds are receivable for lands
Preferred stock is $12,000,000; common $7,000,000.
In January, 1885, default was made and receiver was appointed.
Foreclosure suit under the mortgages was begun bv the Farmers’ Loan
A Trust Co., trustee. In May, 1885, a plan was adopted in London for
amalgamation with Central Pacific before July, 1886, J)y an eaacbange
of O. & C. stock for C. P. stock on the following terms: One snare of
Cent. Pac. for every two shares of O. C. preferred paying an assesst o f $4 per share; also one share of Cent. Pacific for every four shares
•f O. C. common paying an assessment of $3 per share; also new bonds
to be issued by C. P. in place of the O. & C. bonds, in the proportion of
$1,150 in new C. P. bonds for each $1,000 of O. C. bonds, the new C. P.
bonds to draw 3 per cent for two years and 5 per cent afterward. For
year 1884 gross earnings were $1,014,427; net, $140,765. (V. 40. p 61
«2,1 2 0 ,1 5 2,1 8 3 , 454, 481, 588; Y. 41, p. 331, 473.)
O r e g o n Pacific.—Road in progress and 70 miles, from Corvallis to
Taqiuna, on Yaquina Bay, completed in October, 1884. Land grant,
«re r 900,000 acres, and covered by first mortgage. Stock is $30.000 per
mile. T. E. Hogg, President, Corvallis, Oregon. N. Y. Office, 45 William
Street. (V. 40, p. 183, 764.)
Bonds—Prinoipal, When Due.
Stocks—Last
Dividend.
April, 1911
Nov. 1, 1905
June 1, 1921
June 1, 1921
Jan. 1, 188$
March 1,1894
Sept. 1, 1896
Aug. 1. 1897
Deo. 1, 1897
1904
1 880 .%’Qfl
July 1, 1894
Jan. 1, 1910
.Tulv 1, 1Q91
April 1, 1933
Oct,. 1, 1900
April 1,1886
July 1, 1909
April 1,1887
June 1,1925
Feb. 1, 1922
Oct. 15, 188$
May 1, 1922
May, 1915
Feb., 1891
2866
Feb., 1886
May, 1923
Oregon R a ilw a y & N av ig a tion .—July 1,1885. railroads oper
ated were as follow s: Portland to Riparia, 301 miles; Bolles Junction to
Dayton, 13 m iles; Walla Walla to Blue Mountain, 20 miles;
Pendleton to Centreville, 17 miles; Palouse Junction to Colfax,
89 miles; Umatilla to Huntington, 217 miles; total, 657 miles.
Ocean line between San Francisco and Portland, 670 m iles; Puget
«oju^d lines, 275 m.; River lines, 363 m.; totelof water lines, 1,308 miles.
The company pursued the policy of increasing its capital stock to raise
money for improvements, and in a few years the amount was raised
from $6,000,000 to $24,000,000. In June, 1885, the consol, mortg. was
made at the rate of $25,000 per mile and $6,000,000 reserved to take
up the old mort. bonds, and $5,000,000 to take up the debentures. The
Farmers Loan & Trust Co. is the trustee.
In March, 1881, a majority of the stock of this oompany was trans
ferred to the Oregon Trans-Continental Company, and after Nov. 1,1885.
that Company held 139,413 shares.
For six months from July 1 to Deo. 31,1885, gross earnings were
$3,215,227, against $2,194,609; net, $1,636,698, against $899,702.
The annual report for the year ending June 30, 1885, was in the
Chronicle, V. 41, p. 609. The income account was as follow s;
IN M ACCOU
CO E
NT.
1881-82.
1882-83.
1883-84.
1884-85.
RcCôi/ptS“““
$
$
^
a
Net earnings............
2,335,439 2,394,046
2,393,450 1,482,760Other receipts..........
180,725
95,167
301,444
138,903
Totalincom e.........
isbursements—
Rentals p a id ............
Interest on d e b t___
Dividends.................
Rate of dividend.. .
Mis. and. sink. fund.
Total disb’m ents.
Balance, surplus.. .
2,516,164
2,489,213
2,694,894
1,621,663'
112,760
444,743
1,296,000
(8)
13,600
145.429
444,270
1,584,000
(9)
79,230
354,180
440,160
1,800,000
(7**)
79,855
124,087
529,165
1,080,000
(4ig)
119,091
1,867,103
649,061
2,252,929
*226,284
2,674,195
1,852,343
(20,699 Def.230,680
* Adding bonds retired by sinking fund during the year makes surplus
$63,000 larger than here given.
t Deducting $91,000 for depreciationof steamers leaves a deficit for the year of $70,300.
—(Y. 40, p. 152, 270, 356, 481, 542, 570, 588, 685, 742; Y. 41, p. 102,
273, 496, 6 0 9 , 613, 721; V. 42. p. 61,187.)
Oregon Short L in e.—Road from Granger on the Union Paciflo
(156 miles east of Ogden) to a junction with the railroad of the Oregon
Railway & Navigation Co., at Huntington, Oregon, 540 miles, with Wood
River branch to Ketchum, 70 miles. Total 609 miles. The connec
tion through was made in November, 1884. Built under Union Paciflo
control, and interest on the bonds guaranteed. The stock is $15",265,000.
Union Pacific owns a majority of the stock and $2,195,000 bonds. Grossearnings in Jan., 1886, $113,250, against $101,418 in 1885; net, $11,259, against $24,664. Gross earnings in 1884, $1,059,200; net, $403,643; interest and taxes, $809,547; deficit, $446,600. For 1885 grossearnings were $1,833,190, against $1,059,200 in 1884; net, $557)959,
against $288,640 m 1884. (V- 40, p. 718, 764; V. 41, p. 103, 216, 331446, 722; V. 42, p. 156, 272, 304, 387.)
Oregon & T ran s-C on tin e n ta l.—Company organized under tha
laws of Oregon on June 27,1881, and received from the “ Villard Pool”
an assignment of the stock of the Northern Pacific Railroad purchased
by it. The company’s object was to hold the stocks of the Oregon Rail
way & Navigation Company and the Northern Pacific, and to con
struct connecting roads.
In the Chronicle of Aug. 15,1885 (V. 41, p. 190) there was a state
ment of the O. & T. assets. After the takiDg of certain shares of No. Pac.
and Oreg. R’way & Nav. by the holders of the company’s notes, as statedin V. 41, p. 557, the O. T. Co. yet held about 139,413 shares of O. R. &
Nav. Co., 56,730 of N. Pac. pref. and 79,321 of N. Pac. common. In
Dec., 1885, the company arranged a new loan for $4,000,COO, at 5 per
cent, for three years, secured by collaterals.
Total authorized capital is $50,000,000. The bonds are secured by
deposit in trust of first mortgage bonds on new branch railroads, at
$20,000 per mile; also secured by traffic contracts with the Northern
Pacific RR. Co. guaranteeing (after lapse of two years) a minimum net
annual income of $1,400 per mile, being equal to 6 per cent per an
num on $20,000 per mile of bonded indebtedness, and a sinKing fund
charge of one per cent. The roads thus mortgaged are: The No. Paciflo
Fergus & Black Hills RR., of Minn , 117 miles; Little Falls & Dakota
RR., of Minn., 88 m.; Jamestown & Northern RR. of Dakoka, 102 m.r
Fargo & Southwestern RR., of Dakota, 87 m ; Sanborn Cooperstown &
Turtle Mountain R R ,3 6 m .; Rocky Mountain RR., Montana, 52 m.;
Helena & Jefferson County, : 0 m.; total. 503 miles.
Quarterly dividends began in Jan., 1883, at 1*2 per cent, and ceased
after October, 1883. (V. 40, p. 61, 304, 338, 742; V. 41, p. 102,190.
208, 393, 446, 527, 557, 689, 722; V. 42, p. 207.)
O sw ego < R o m e .—Owns from Richland, N. Y., to Oswego, N. Y.*
fc
29 miles. Road opened Jan. 1,1866. It is leased to the Rome Water
town & Ogdensburg RR. at 8 per cent on its stock ($300,000) ana 7 p er
cent on guar, bonds, pref. stock being represented by convertible bonds,
$62,100 of bonds due 1870 are yet outstanding.
A p r il ,
1886.J
Ï 3
RAILROAD STOCKS AND BONDS
im m ed ia te notiee o f any error discovered in these T a b les.______
iTVT'nPVn
|Bonds Princi*
INTEREST
HV1DEJNU.---------- pal,When Due.
DESCRIPTION.
Miles Date Size, or
Amount Rate per When Where Payable, and by
Stocks—Last
Par
of
or explanation of column headings, &c., see notes of
Outstanding Cent. Payable
Dividend.
Whom.
Road. Bonds Value.
on first page of tables.
Subscribers w i l l confer a great fa v or b y g iv in
123
Owensboro & Nashville—1st mortgage, gold.............
84
Collateral trust (4u0,000.).......................................
65
Painesvitle d Youngsloi n—1st mortgage................
k
65
2d mortgage, income, convertible into stock.......
48
Panama—Stock......................................... . ..................
48
General mortgage, sterling, (£737,800)................
48
Sinking fund subsidy, gold.......................................
15
Paterson d Hudson—
k
Stock..........................................
2,036
Pennsylvania—Stock........................................- - ----Gen. M., Ph. to Pitts., coup., J. & J.; reg., A. & O.
State lien (pay ’bie in annual inst’lm’ts of $460,000)
Consol. M., coup. J. & D., & reg. Q.—M. is. f . 1 p. c.)
Consol, mortgage, gold.................. .
.........
Bonds, reg. (P.W. & B. stock deposited as collat l) 571
Collateral trust loan (coup., but may be reg.). . . . .
Car Trust certs, (in series payable 1ioth yearly)..
....
Pennsylvania Company—Stock.. . . . . . . . .
, 3,232
Reg. bonds, secured by P. Ft.W.& C. special stock
Bonds, gold, secured by pledge and guarantee
105
Pennsylvania < New York—1st mort., guar— .
£
105
1st mortgage, guaranteed........ - -- -- - - ..............
Pennsylvania Schuylkill Valley—Stock .............
54
1st mortgage bonds, registered........ -.- - - - - - - - Pensacola d Atlantic—1st m. g, (guar, by L. & N .).. All.
k
47
Peoria dt Bureau Valley—Stock.........................
254
Peoria Decatur d~
k Evansville—Stock................
1st mort., gold (Pekin to Mattoon)............-..
Income bonds,
do
not cumulat
1st mortgage (Evansv. D iv.).................*•--....
Income bonds
do
not cumulati
1867
1880
$1,000
5,000
500 &c.
500 &c.
100
£200
1,000
1870
50
1,000
1881
1883
1879
1879
1873
1879
1881
1883
1875
1877
1881
1866
1866
1833
1881
1880
1880
1880
1880
1.000
1,000
1,000
1,000
1,000
50
1,000
1,000
1,000
1,000
50
1,000
1,000
100
1,000
1,000
1,000
1,000
(Pledged)
$260,000
400,000
1,000,000
7,000,000
3.589.000
2,747,000
630,000
94,777,850
19,999,760
1,936,364
27,482,930
5,000,000
8.734.000
10,000,000
7,017,000
1,000,000
20,000,000
2,314,000
13,217,000
1,500,000
1,500,000
4,970,000
4,800,000
3,000,000
1,500,000
8,400,000
1,287,000
858,000
1.470,000
1,230,000
New York,
6 g - M. & N.
do
6 g F. & A.
J. & J. Last paid July, 1881.
7
J. & J.
7
New York, Office.
2
J. & J.
London.
7 g. A. & 0.1
New York.
6 g. M. & N.
New York.
J. & J.
4
M. & N. Philadelphia, Office.
2
Philadelphia & London.
6
A. & O. Philadelphia, Office.
5
Q —M. Philadelphia & London,
6
do
do
J. & D.
5
do
do
J. & J.
4
do
do
4Lj J. & D.
Philadelphia.
Q’rtrly
5
J. & J. Phil.,Pa., Co.,ior ins.&c
5
4
.... Pittsburgh, Co.’s Office,
u.—J. Phila. Tr. S. D. & I. Co.
6
4*ag. J. & J. N. Y., Nat. City Bank.
J. & D. Phila., B’k N. America,
7
do
do
J. & D.
7
5
6
4
....
J. & " .
d
F. & A.
F. & A.
....
Nov. 1, 1931
Aug. 1, 1888
Jan. 1, 1910
Jan. 1, 1915
July 1, 1885
’86 to ’89 & ’97
Nov. 1, 1910
Jan. 5, 1886
Nov. 30,1885
1910
Annually.
June 15,1905
Dec. 1, 1919
July 1, 1921
June 1, 1913
1891-93
Jan. 1, 1901
For 1883
July 5, 1907
July 1, 1921
June 1, 1896
June 1, 1906
Dec. 1, 1935
Aug. 1, 1921
Feb., 1886
6 g. J. & J. N. Y., Met. Nat. Bank, Jan.
Jan.
do
do
....
6
Sept.
New York,
M. & S.
6
Sept.
do
M. & S.
6
1,
1,
1,
1,
1920
1920
1920
1920
Tiie last report issued, that for 1885, was published In the C h r o n i c l e
O s w e g o & S y r a c u s e .—Owns from Oswego, N. Y .,.to Syracuse
42, pp.
■■
...
.
N. Y., 35 miles. Leased in 1868 to the Delaware Lack. & West. RR. Co. |V.A anmin303 and 308.
ary of the total business of 1885, compared with previous,
for 9 per cent per year on stock and interest on bonds.
years, is shown in the following :
O w en sboro Sc N ash v ille.—Owns from Owensboro, Ky., to AdaixAT T LINES BOTH EAST AND WEST OF PITTSBURG < ERIE.
.
fe
vilie, Ky., 84 miles. Controlled in 1879 by the Nashville Chattanooga
1884. .
1885.
1883.
& St. Lotus, and now operated by Louis. & Nash. RR., which owns a
maiority of the stock. The $‘¿ ,000,000 1st M. bonds are pledged for the Gross earnings........................$105,653,532 $97,849,875 $92,994,549»
64,434.317
61,690,901
Operating expenses.............
68,917,056
collateral trust bonds. Gross earnings for 1884-85, $165,437; net,
$37,580. Gross in 1883-4, $101,138; net, $15,832. Stock is $ l,lo 6 ,517.
Net earnings.................... $36,736,476 $33,415,558 $31,303,648:
The income account embraces all receipts and expenses of the Penn
P a in esville Sc Y o u n g sto w n .—Owns from Fairport. Ohio, to
Youngstown, Ohio, 65 miles. The old company made default, and sylvania Railroad proper, but not including the roads west of Pittsburg
road was sold in foreclosure June 2,1879. Under the reorganization & Erie operated by the Pennsylvania Company. The account for the
bonds are issued as above, and the stock is $288,000. On Jan. 1,1882, years 1883,1884 and 1885 was as follows:
defaulted on 1st mort. coupons, and R. K. Paige appointed receiver
INCOME ACCOUNT OF PENNSYLVANIA RAILROAD COMPANY.
Foreclosure pending. Gross earnings in 1883-4, $55,138 ; net, $3,981;
1883.
1884.
1885.
(V. ±2, p. 272.)
Net income Penn. RR. Division.$ll,943,432 $10,185,529 $8,153,685
P a n a m a .—Owns from AspinwaJl to Panama, 48 miles. Opened Net loss New Jersey Division .
653,914
593,536
lo9,497
through Jan.28,1855. Of the general mortg. bonds $700,000 fall due in
seven half-yearlv payments beginning April, 1886, and balance in Oct,,
$9,591,993
$7,994,188
Balance................................. $11,289,516
1897. The $2,747,000 subsidy bonds are secured by a pledge of the
Deduct—
sum of $225,000 annual subsidy payable to theU. 8. of Colombia by Advances to Penn.Co.. $1,667,the company. In June, 1881, most of the stock was sold to paiiatb
733, of which there has been
interested in the De Lesseps Panama Canal Co. The report for 1885 was
$1,000,639.
$ ............
charged to Penn. RR. income
$ ............
in chronicle of April 17,1886, showing net income of $612,550, and Payments to trust fund.............
600,000
58,621
600,000
a deficit, after paying 10 per cent dividends, of $628,490. 10 per ct. paid Consol, mortgage redeemed . . . .
324,830
277,460
280,860
in 1885. The surplus to Deo. 31,1884. was $1,076,557; surplus to Dee. Allegheny Val. RR.—Deficiency
701,576
698,320
251,520
31, 1885, $448,166. (V. 40, p. 5 4 0 , Y. 4?, p. 455, 4 8 6 .)
Do
Advances.
409,490
15.000
Ï5 ,ô ’d o
P aterson Sc H u d s o n .—Owns from Jersey City, N. J., to Pater Fred. & Penn. Line RR.
do
15,000
90.000
son, N. J., 15 miles. The road was opened in 1834, and leased Am. SS. Co.—To meet int. guar.
90,000
in perpetuity September 9,1852, to the New York & Erie, at a rental of
Do
Advances.
90,000
$48,400 per year, and is operated by the New York Lake Erie & Western
$1,590,780 $2,190,666
$1,736,870
as part of its main line. J. 8. Rogers, President, New York City.
$5,803,522
$8,001,213
P e n n sy lv a n ia .—i See Map)—Line op Road—The Pennsylvania sys Balance to credit of in com e.... $9,552,646
4,738,892
6,560,787
Dividends..................................... 7,530,650
tem embraces about 5,500 miles of railroad, including all east and west
(5)
(7)
<8*2)
of Pittsburg, At the close of 1885 the mileage operated east of Pitts Rate of dividend........................
burg & Erie, on which earnings as reported were based, was divided as
$1,064,630
$1,440,426
follows: Pennsylvania Division and branches, 1,516; Philadelphia & To credit of profit and loss....... $2,021,996
363,355
1,020.692
Erie Division, 287; United Railroads of N. J. and branches, 445; total Balance old accounts, &c................................ 603,452
operated, New York to Pittsburg, with branches, 2,248.
$1,418,544
$419,731
$701,275
Net balance for year........
Organization, Leases, & c —The charter of the Pennsylvania Rail
12,194,639
13,013,184 14,032,918
road was dated April 13,1846, for a line from Harrisburg to Pittsburg. Add profit and loss Jan. 1 ....
The line from Harrisburg to Philadelphia was under other organizations,
including the State Railroad, and the Harrisburg Portsmouth Mt. Joy & Balance profit and loss Dec. 31. $13,613,183 $14,032,918 $14,734^193
Lancaster is still operated under a lease though forming part of the —(Y. 40, p. 134,152, 253, 270. 285, 30 2, 30 6, 377 394. 493, oO«, 653,
mainline. Road opened in 1854. The great number of leases, both east 763; V. 41, p. 24, 43, 89, 103, 230, 242, 341, 357, 483, 496, 508, 597,
and west of Pittsburg, were made for the most part under the adminis 613, 627, 733,745; V. 42, p. 137,157,255,272, 285, 3 0 3 , 304, 3 0 8 ,
trations of J. Edgar Thomson and Thos. A. Scott in the few years preced 339, 379, 397.)
P en n sy lv an ia C om p an y.—The Pennsylvania Company is a cor
ing 1873. The terms of the leases will be found under the names of the
poration chartered by the Pennsylvania Legislature, April 7,1870. dis
respective leased roads.
The Pennsylvania Company was organized in 1870 as an auxiliary tinct from the Pennsylvania RR., and it operates all the leased fines west
corporation to control all the lines west of Pittsburg & Erie, and the of Pittsburg. The stock is owned by the Pennsylvania RR.
Pennsylvania RR. Co. holds all£he stock of the Pennsylvania Company.
The registered bonds are secured by deposit of $4,000,000 of Pittsb. Ft.
Stock and Bonds.—The Pennsylvania Railroad stock has been in W. & Chic, special stock. The gold bonds of 1921 are secured by a deposit
creased from time to time, chiefly by the sale of stock at par to stock in trust of the leases of the Pitts. Ft. W. & Chic, and the Cleve. & Pitts,
holders, for the purpose of raising capital for new acquisitions or better railroads and are also guaranteed by the Penna. RR. Co. The trustees
ments. In the period of depression following 1873 the Pennsylvania of the mort. are Wistar Morris, Edmund Smith and S. M. Felton. The
RR. dividends were reduced and sometimes passed. The dividends paid sinking fund is 1 per cent per annum if the bonds can be bought at par.
The whole number of miles operated or in any way controlled
each year since 1870 have been—in 1871,1872,1873 and 1874,10 per
cent each year; in 1875 and 1876, 8 per cent each year; in 1877, 4 ; in by tbis company is 2,819. Tb© inooni© account of tb© company showed
1878, 2 ; in 1879, 4 ^ ; in 1880, 6 and 1 per cent in scrip; in 1881, 8 ; net profits over all liabilities, including fixed charges, of $1,867,883 in
1882; $872,829 m 1883; deficit in 1884 of $710,220; deficit m 188o of
in 1882, 8*2; in 1883,
; in 1884, 7 ; is 1885, 5.
The prices of the stock yearly in Philadelphia since 1875 have been— $1,094,671. (V. 40, p. 286, 685.)
In 1876, 45@583s; in 1877, 245s@49; in 1878, 27 »3 5 44; in 1879, 323s
P en n sy lv an ia Sc N ew Y o r k (C anal a n d R a ilw a y ).—Own*
»5188; in 1880, 48@67i4; in 1881, 59^® 70i8; in 1882. 5378®65i4; from Wilkesbarre, Pa., to N. Y. L. E. & W. RR. near New York State
In 1883, 561
8@648t; in 1881, 4 9 ^ 6 1 ; in 1885, 45%®56!8; in 1886 to Line, 104 miles. Branches to mines, 23 miles. Operated in connection
April 16, 5 2 ie »5 5 78.
with the Lehigh Yalley Railroad as a northern outlet. Common stock,
In March, 1881, the company purchased 217,819 shares of the Phila $1,061,700, and preferred stock, $4,000,000. Gross earnings in 1883-84,
delphia Wilmington & Baltimore RR., and the 4 per cent bonds secured $2,151,338; net, $609,544. Gross in 1882-83, $2,316,847; net, $961,by P. W. & B. stock are purchased yearly at not over par with the sur 821. Seven per cent dividend paid on preferred stock in 1885.
plus proceeds of Ph. W. & B. dividends and not needed for the payment
P en n sy lv an ia S ch u y lk ill V a lle y .—June 1 , 1883, the organiza
of ’nterest.
The collateral trust loan of 1883 is secured by the deposit of mortgage tion of this company was completed by consolidation between the Phil.
Norristown & Phcenixville, the Plioenixville Pottstown & Reading and
bonds of subsidiary lines to the par value o f $12,500,000.
Operations, Finances. &c.—The total cost to the Pennsylvania Rail the Phcenixville & West Chester railroad companies. The road extends
road Co. of the stocks and bonds of other companies held in its treasury from Philadelphia to Hamburg, 84 miles, and is controlled by the Penn.
was, up to Deo. 31,1885, $100,092,740 (par value of the same $132,- RR. Co. Gross earnings in 1835, $360,482; operating expenses, $400,658,746), most of which is represented on the other side of the balance 585. J. N. DuBarry, President. (V. 41, p. 557; V. 42, p. 61.)
sheet by issues of Penn. Railroad stock and bonds and other debit items,
P en sacola Sc A tla n tic .—Pensacola, Fla., to River Jiuiction, Fla.,
162 miles. Road completed Feb., 1833. Operated by Lou. & Nash, since
the balance to credit of “ profit and loss” is $14,734,192.
A scheme to buy up the company’s guaranteed securities with $600,- Jan., 1885, and connects its system with the roads of Florida and So.Ga.
000 per vear from earnings was in operation, and 'he entire amount Stock, $3,000,000. Has issued $1,000,000 land grant bonds to the Lou.
paid by the company into the Trust up to the end of 1885 was $3,750,- &Nash., RR. Earnings for fifteen months, April 1, 1884, to June 30,
000. There had been purchased for the fund securities of the par 1885, $373,670; net, $64,839; interest on bonds, $22n,000; other
value of $4,785,350, which yielded an interest of 6*9 percent per annum interest and construction, $67,144; deficit, $227,305. (V. 41, p. 613.)
unon the purchase price. In IS85 the plan was changed, and now 1 per
P eoria Sc B u reau V a lle y .—Owns from Bureau Junction to Peo
cent of the net income is applied to this purnose yearly
ria, 111., 47 miles. The road was leased in perpetuity April 14,1854, to
From Jan. 1 to March 1, 18s 6, gross earnings on lines east of Pitts the Chicago & Rock Island Railroad at a rental of $125,000 per annum.
burg and Erie were $6,971,011, against $6,353,222 in 1885; net, $2,219,P eoria D ecatur & E v a n sv ille .—Owns from Pekin to Evansville,
145, against $1,821,063 in 1885. Deficit on lines west of Pittsburg
235 miles; branch—Stewartsville, In d , to New Harmony, Ind., 6
and Erie, $231,654in 1886, against deficit of $247,987 in 1885.
RAILROAD STOCKS AND BONDS-
RAILROAD STOCKS A N D BONDS.
A p r i l , 1886.]
75
Subscribers w ill confer a great favor by giv in g im m ediate notice o f any error discovered in these Tables.
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due.
Miles Date Size, or
Amount
Stocks—Last
Par
of
For explanation of column headings, &c., see notes of
Outstanding
Dividend.
whom.
Cent. Payable
Road. Bonds Value.
on iirst page of tables.
Peoria < Pekin Union—1st mortgage, gold, coupon
6
Second mortgage, gold............................................
Perkiom en—1st mortgage...........................................
Consol, mort., gold, guar. P. & R., (sink, fund)---Peterborough (N. H J—Stock.......................................
Bonds (not mort.), redeemable after 1 8 8 2 ............
Petersburg—8 t o c k ............................ ........................ Guaranteed pref. stock, 6 per cent.........................
1st mort. bonds (payable $25,000 yearly).............
Mortgage bonds, class A ...........................................
Mortgage bonds, class B ...........................................
Philadelphia < Balt. Central—Stock..........................
&
1st mortgage (for $2,500,000).................................
Westchester & Phila., 1st mortgage. . ....................
Philadelphia < Brie—Stock, common.........................
6
Preferred stock, special...............................- ...........
1st mort., Sunbury & E. (extended 20 years in ’77).
2d mortgage............................... - :
General M., g., guar by Pa.RR. ($5,263,000 rg. 5s)
Debenture bonds, reg. (redeemable at any time)..
Phila. Oermant’n & Chestnut H ill—1st mort., guar
Philadelphia Germantown < Norristown—S tock ...
£
Philadelphia Newtown < New York—Stock...............
fi
Bonds, guar, by Phila. & Read., coup............. .—
Philadelphia dt Reading—Stock, common.................
Preferred stock........................- - - - - - - — xii *; m k
Receiver’s certincates outstanding Nov. 30,1885
Mortgage loan, sterling, coupon..............................
do
dollars, coupon................................
do
convertible, coupon.........................
Mortgage loans, coupon............................................
Consol, mort. ($8,162,000 are gold 6s) cp. or reg.
20
20
38
38
11
"63
82
83
83
27
287
287
40
287
287
1881
1881
1867
1873
1877
1869
1881
1881
1881
1871
1857
1868
1869
1885
1883
■'*7
29
*21
932
932
1884
1843
1843-9
1857
1868
1871
$1,000 $1,500,000 ” ~6 g.’ Q .-F . N. Y., Central Trust Co.
do
do
1,500,000
4*ag. M. & N.
1,000
A. & O.
Norristown, Pa.
6
799,600
100
J. & D.
ño
do
1,125.000
1,000
Nashua, Treasurer.
!* ■ M. & N
385,000
100
A. & O. Boston, N. E. Trust Co.
6
89,000
500 &c.
7
1,000,700
100
3
323,500
50
jr. & j .
Petersburg Va.
8
319,000
5
do
J. & J,
560,000
A. & O.
6
883,000
2,495.650
50
M. & N. Phila. Company’ s Office.
’ 5*
1.000,000
1,000
A. & O.
do
do
7
1,100,000
10Ó &0.
7.975,000
50
Philadelphia, Pa. RR.
2.400,000
50
A. & O. Philadelphia, Pa. RR.
7
976,000
1,000
do
do
J. & J.
7
3.000,000
1,000
______
1,000 13,943,000 5 & 6 g. VariousPhiladelphia & London.
1,500,000
4ia F. & A. Philadelphia, Penn.RR.
1,000
..........
413 M. & N.
1,000,000
1,000
Q.—M. Phila., Treasurer of Co.
3
2,231,900
50
1,200,000
50
A. & O. Phila., 227 So. 4th St.
* e'
700,000
100 &c.
Philadelphia, Office,
213
50 36,822,975
do
do
846,950
3ia
50
4, 5, 6
2,980,289
London.
J. & J.
6
967,200
£500
J. & J. Philadelphia, Office,
6
1,500,000
1,000
do
do
J. & J.
6
79,000
500 &c.
do
do
A. & O.
7
2,700.000
1,000
6 g. or 7 J. & D. Philadelphia & London
200 &C. 18,811,000
miles; leased, Pekin, 111., to Peoria, 111., 10 miles; through Decatur,
3 miles; total, 254 miles. This road is a consolidation of the
Pekin Lincoln & Decatur RR. (formerly leased to the Wabash) and the
Decatur Mattoon & So. and the Grayville & Mattoon. Annual report for
1885 in V. 42, p. 363. Gross earnings in 1884, $759,768; net, $231,921;
gross in 1885, $736.984; net, $247,655; Interest on mort. bonds, $165,420; payment on equipment certificates, $48,000; surplus, $34,235.
—(V. 40, p. 3 6 2 ; V. 42, p. 3 6 3 ,463.)
P eoria Sc P eltin U n io n .—Owns from Pekin to Peoria, 10 miles
on each side of 111.-River; total operated, 20 miles. The road is a union
road, and the stock of $1,000,000 was taken by the different Peoria
RR. companies, and they pay a rental for use of the road and also pay
terminal charges. See full description in V. 36, p. 253. Opened Feb.,
1881. In 1883, gross receipts, $445,142; net, $191,783; balance
over interest and rentals, $14,308. Gross receipts in 1884. $429,847;
net, $174,369; balance over interest and rentals, $71,889. A. L. Hop
kins, President, New York.
P e rk io m e n .—Own from Perkiomen Junction, Pa., to Emaus
Jlunction, 39 miles. The road was leased for 19 years from Aug. 1,
1868, to Phila. & Reading RR., and bonds guaranteed by the lessees; but
the property was surrendered and all control given up in May, 1879.
Stock subscription, $38,040. The balance sheet gives on the credit side
$781,120 ae Phila. & Reading loan account. Net earn, in 1883-84, $99,201; in 1884-85, $121,537. Interest on debt, $115,476.
P eterb o ro u gh .—Owns from Wilton to Greenfield, N. H., 11 miles.
Completed Jan. 1, 1874, and leased by Nashua & Lowell Railroad
for 20 years from 1873 at 6 per cent on cost of the road. James
Scott. President, Peterborough, N. H.
P e te rs b u r g .—
Petersburg, Va., to Weldon, N. C., 63 miles. In May
1877, a receiver was appointed, but steps were taken by second mortage bondholders to prevent a sale, and reorganization was made with
323,500 preferred stock and $1,000,700 common stock. $440,000 Class
“ A” bonds are still in hands of Central Trust Co., of which $350,000 are
reserved to retire old 1st mortgage 8s. In 1883-84, gross earnings,
$347,132; net, $149,497 ; in 1884-85, gross, $345,128; net, $157,095.
—(V. 40, p. 29; V. 42, p. 92.)
P h ila d e lp h ia Sc B a ltim o re C entral.—Philadelphia to West
chester, 26 miles; Westchester Junction to Octoraro Md., 46 miles;
leased Chester Creek Railroad, 7 miles; total operated, 79 miles. This
was a consolidation, Oct., 1881, of the Philadelphia & Baltimore Cen
tral and the Westchester & Philadelphia railroads. Of the new uock
Philadelphia Wilmington & Baltimore RR. holds nearly all. In 1884-85,
net earnings, $181,799. In 1883-84, net earnings, $140,066; deficit,
$6,744.
P h ila d e lp h ia Sc E r ie .—Owns from Sunbury to Erie, 287 miles.
Formerly Sunbury & Erie RR. It was leased to Pennsylvania RR. for
999 years from Jan. 1, 1862, the lessees to pay 30 per cent of gross
feceipt as rental, but modified January 1, 1870, so that actual net
receipts are paid as rental. The general mortgage is guaranteed by the
Pennsylvania Railroad and the interest on the 6s is paid J. & J., on the
5 per cents A. & O. The unpaid coupons are held bv the lessee for ad
vances, and by terms of adjustment in J an., 1885, made with the Penna.
Railroad Co. the P. & E. issued $1,500,000 debenture bonds at 4*2 per
cent, secured by the overdue coupons held as collateral.
Gross earnings from January 1 to February 28,1886, were $451,856,
against $430,217 in 1885; net, $167,837, against $123,749.
Last report was in C h r o n i c l e , V. 42, p. 270, giving the following:
f
INCOME ACCOUNT.
Receipts—
Net earnings............
R ents.......................
Total income___
lHsbursements—
Interest on d e b t....
Interest on equipm’t
Extraordin’y expen.
Miscellaneous..........
1882.
$
1,411,880
3.586
1883.
$
1,488,020
4,892
1884.
$
l,45-<.0: 0
9,120
1885.
$
1,292,880
8,471
1,415,466
$
1,062,270
160,410
1,492,912
1,467,200
1,301,351
1,062,270
162,281
1,062.270
166,801
95,087
43,024
21,147
985,620
166,893
27,000
8,200
10,000
Total disbursem’ts
1,317,767 1,277,575
1,250,213
1,187,713
Balance..................... sur.97,699 sur.215,337 sur.216,982 sur.113,638
- ( V . 40, p. 183, 2 6 8 , V. 42, p. 270.)
P h ila d e lp h ia G erm a n tow n Sc Chestnut H i l l .—In Philadel
phia from Germantown June., on Connecting Railway, to Chestnut Hill,
6% miles. From May 1, 1883, leased for 3o years to the Pennsylvania
RR. Co., -which guarantees 4*a per cent on the bonds. Gi oss earnings in
1885, $108,162; operating expenses, $116,405.
P h ila d e lp h ia G erm a n tow n Sc N orristow n . — Philadelphia.
Pa., to Norribtown, Pa., 17 miles; Germantown Branch, 3 miles; Ply
mouth Railroad, 9 miles; total, 29 miles. The property was leased
Nov. 10, 1870, to Philadelphia & Reading Railroad for 999 years at a
rental of $269,623 and $8,000 yearly for organization expenses. Divi
dends of 12 per cent per annum are regularly paid.
P h ila d e lp h ia N ew to w n & N ew Y o r k .—Owns fronTErie Ave.,
Feb. 1, 1921
Feb. 1, 1921
Apr. 1, 1887
June 1, 1913
Nov.. 1885
Oct. 1, 1897
1883-84
Jan., 1887-’98
July 1, 1926
Oct. 1, 1926
Nov. 1, 1911
April 1, 1891
Oct. 1,
July 1,
July, 1,
Feb. 1,
M a y l,
Mar. 3.
1897
1888
1920
1915
1913
1886
Oct. 1, 1897
Jan. 25,1876
July, 1876
July, 1910
July, 1910
July, 1886
Oct. 1, 1893.
June, 191\,
Philadelphia, to Newtown, Pa,., 21 miles. Cap;tai stock, $1,200,000.
On November 10,1879, the Philadelphia & reading Railroad purchased
12,012 shares (which gave control of the property), and guaranteed the
bonds; the road is operated in connection with the P. & R. system.
Earnings in 1884-85, $73,928; expenses, $32,282; deficit, $8,353.
In 1883-84, earnings were $75,942; expenses, $96,235; deficit, $20,342*
P h i l a d e l p h i a Sc R e a d i n g .— L i n e o p R o a d — Owns main line.Philadelphia to Mount Carbon, Pa., 98 m iles; branches owned, 228*
miles; leased lines,1,152 miles: roads controlled, 107 miles: total oper
ated in Deo., ’85,1,536 miles. These leased lines include the No. Pennsyl
vania and Delaware & Bound Brook roads, from Philadelphia to Bound
Brook, N. J., and branch to Trenton, and the Central of New Jersey
roads. In May, 1883, leased the Central RR. o f New Jersey, including
its leased lines in Pennsylvania, 650 miles, but 63 miles of these roads
are sub-let to other companies. The Shamokin Sunbury & Lewisburg,
and the Jersey Shore Pine Creek & Buffalo and other lines, form the
connecting roads to the New York Central & Hudson at Geneva and
Lyons, N. Y.
O r g a n i z a t i o n , L e a s e s , &c.—The Philadelphia & Reading Company
was chartered April 4,1833, to build from Philadelphia to Reading, and
on May 13,1872, the Mount Carbon Railroad was merged and became
part of the main line. Road opened Philauelphia to Pottsville in Jan.
1842. The Philadelphia & Reading Co. leases a number of roads in
Pennsylvania, including the Catawissa, Chester Valley, Colebrookdale,
East Pennsylvania, Little Schuylkill, Mine Hill, Schuylkill Valley, Phila
delphia Germantown & Norristown, Philadelphia < Chester, and some
&
minor roads; also the North Pennsylvania Railroad and Delaware
& Bound Brook, forming the line from Philadelphia to New York. In
May, 1883, the Central of New Jersey was leased, including the leased
lines of that company in Pennsylvania. The fiscal year ends Novem
ber 30. The annual election is held early in January.
The Philadelphia & Reading Coal & Iron Company is a corporation
formed (Dec. 12,1871) for the purpose of owning and working the ex
tensive coal properties of this company. The Phila. & Read. RR. Co. owns
all the stock ($8,000,000) of the Coal & Iron Company.
The Phila. & Read. RR. and the Iron Company were in the hands of
receivers from May, 1880, to May, 1883. Again in June, 1884, receivers
were appointed.
S t o c k a n d B o n d s .— The preferred stock is of small amount, and did
not receive any dividends from 1880 till 1884, when 21 per cent for
back dividends was voted, contingent on the negotiation of the collateral
trust loan. The dividends paid on Philadelphia & Reading stock from
1870 to 1875, inclusive, were 10 per cent each year; in 1876 2 ^ per cent
was paid and nothing since.
The range of P. & R. stock yearly in Philadelphia since 1875 baa been:
i n l8 7 6 ,18^a>55; in 1877, 10@20i4; in 1878, 1138@19%; in 1879
llig@ 3758; in 1880, 634^36^-. in 1881, 253s®37J4; in 1882, 23^ ®
335s; in 1883, 23*2'a>30'v; in 1884,
1885, 638@1278; in 1886,
to April 16, 9 1
a©1558.
The bonds in the table above are arranged with the mortgage bonds
placed first, then the plain debentures, income bonds, scrip, &c. Of the
general mortgage bonds dated in 1874, $5,000,000 more at 7 per cent
were issued m 1882. Under the sinking fund clause the right has been
claimed by Mr. Gowen to pay off the general mortgage bonds at any
time on proper notice.
The trustees of the general mortgage of
1874 hold the bonds of the Coal & Iron Co., viz., $29.737,965 mortgage
of 1874 and the Philadelphia & Reading Co. also holds the $10,000,000
mortgage of the Coal & Iron Co. dated 1876.
The Deferred Income bonds have a claim for 6 per cent interest only
after 6 per cent has been paid on the stock. In January, 1883, the con
vertible adjustment scrip was issued, secured by $4,000,000 income
mortgage (see terms in V. 36, p. 48), payable on 90 days’ notice any
time after July, 1885, and convertible into stock at par, and the new
consol, mortgage dated in 1882, due in 1922, was issued in adjustment
of certain liabilities. In addition to the bonds above given there are
real estate mortgages for about $2,900,000.
O p e r a t i o n s , F i n a n c e s , & c .—The Philadelphia & Reading Co. has
been the largest of the anthracite coal carriers, and through its auxiliary,
the Philadelphia & Reading Coal & Iron Co., became a large owner of
coal lands. Between 1870 and 1876 the P. & R. increased heavily its
capital account in the purchase of new properties, and after paying 10
per cent dividends for some years ceased to pay after Jan., 1876.
In May, 1880, the company suspended payment, and on May 24
receivers were appointed and held possession till May, 1883. Bin in
June, 1884, the company again went into receivers’ hands.
In 1883 theP. & R. Co. leased the Central of New Jersey railroad
system, assuming all its liabilities and agreeing to pay 6 per cent a year
on the stock. By this lease all the Central of N. J , coal lands and coal
traffic were controlled, giving the Phila. & Reading control of about 40
per cent of the anthracite corn business.
The charges on Central of N. J. lease were heavy and coal profits
declined largely, so that on June 2,1884, G. DeB. Keim. Edwin M. Lewis
and Stephen A. Caldwell were appointed receivers of the Philadelphia &
Reading RR. and Iron companies.
In February, 1886. the syndicate of bankers was formed, with a pro
posed capital of $15,000,000, raised to meet reorganization expenses.
(See C h r o n i c l e , Y. 42, p. 216 an<%p. 394.) The plan of reorganization
approved by the “ reconstruction trus ees” representing bondholders
and the company, and by the syndicate, w <s published at length in the
C h r o n i c l e of March 27,1886, on p. 394, &c.
76
ßAILKOAD STOCKS AND
BONDS.
[Voi, XLII.
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered In these T ables.
DESCRIPTION.
Ronds—Princi
INTEREST OR DIVIDENDS.
Date Size, or
pal,When Due.
Amount
For explanation of column headings, &c., see notes of
Par Outstanding Rate per When Where Payable, and bv Stocks—Last
of
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Phila. < Read.—(Oont.)—Imp.mort., g , $ or £, coup .... 1873 $1,000 $3,364,000
£
6 g. A. & O Philadelphia & London. Oct. 1, 1897
Gen. mort., gold, $ and £, cp.($5,000,000 are 7s).
1,000 24.686.000 7 & 6 g. J. & J. Last paid Julv, 1881
1874
July 1, 1908
Income mortgage, $ .......................................
1876
1,000
3.478.000
J. & D. Last paid Dec., 1883
7
Deo. 1, 1896
Consol. M, of '82,1st ser., gold (for $80,000,000).
1882 500 &c.
4,179,329
5 g. M. & N. Last paid May, 1884 May 1, 1922
do
. 2d series (for $80,000,000)....... —
1883 500 &c.
2,201.052
5 g. F. & A. Last paid Feb., 1884
Feb. 1, 1933
Debenture loan, coup......................................
1868 100 &c.
662,300
6
J. & J
Last paid Jan., 1884
July 1, 1893
do
convertible, coupon.....................
1873 100 &c.
7,515,400
7
J. & J. Last paid Jan. 1884
Jan. 1, 1898
Scrip deben, and guar, bonds, currency.................
1877 10 &c.
562.019
6
J. & J. Last paid Jan., 1884
July, 1877-84
Scrip general mort. and Perkiomen, 6, sterling..
1877 90 &c.
1,791,720
J. & J. Philadelphia & London. July, 1882-85
6
Deferred Income bonds...........................__ .
1882 50 &0. 24,612,850
6
....
Nothing ever paid.
Irredeemable.
Deferred income scrip.............
955,240
6
Conv. adjustment scrip (for $4,000,000)...............
1883
3,072,730
6
J. & J. Last paid Jan , 1884. Jan. 1, 1888
Car trust certificates...................... I...........
1883
1.600.000
6
................................................
do
do
1884
966.000
6
P. & R. Coal & I., purchase moneymort. bonds... . . . . 1872-4 500 &c. 12.338.000
6 & 7 Various Philadelphia, Office.
1892 to 1894
1,000
1872
do
debenture loan...........................
1.117.000
M. & S. Last paid March, 1834.
7
1892
Philadelphia < Trenton—Stock...................................
6
100
1,259*100
39
2*3
Q .-J .
Philadelphia, Office. April 10. 1886
50 11,819,350
Philadelphia Wilmington < Baltimore—Stock.........
£
4
J. & J. Phil’delphia, Co.’s Office Jan. 2,1886
407
Plain bonds, loan.."...................................................
1,000
1867
1 , 000,000
6
A. & O.
do
do
April, 1887
do
do .......................................................
1872-4 1,000
700.000
6
A. & 0.
do
do
Oct. 1. 1892
do
do .................................................
1.000
800.000
1875
A. & O.
6
do
do
April 1. 1900
do
do ....................................................
1880
1 , 000,000
5
T. & D.
do
do
June, 1910
P ine Creek.—1st mort., guar....................................
1,000
1883
3.500.000
6
J. & D. Phila. P. & R. RR. Co.
Deo. 1932
■Pittsb. Olere, dkToledo—1st mortg., gold, int. guar..
1882
2.400.000
6
A. & O.
78
New York.
Oct. 1, 1922
Pitts. 0.<é St.L.—1st M., consol., reg. and coup........
1,000
6.863.000
7
F. & A. Phila., Pa., RR. Office. Aug. 1, 1900
200 1868
1,000
2d consol, mortgage..................... / .........
2.500.000
200 1873
7
A. & O.
do
do
April 1, 1913
1st mort., Steub'. < Ind., extend, in 1884, reg....... 125 1864
&
1,000
3.000.
000 5
J. & J. N .Y ., Nat City Bank. Jan. 1,1914
Col. < Newark Division bonds.................................
fe
1,000
134.000
7
J. & J. Phila., Pa. RR Office. Jan. 1,1890
33 1864
Holliday’s CoveRR. mortgage bonds....................
120.000
6
F. & A.
do
do
Feb. 1,1893
Pittsb. < Oonnellsville.—1st mortgage........
&
1,000
4.000.
000 7
149 1868
J. & J. Balt., Balt. & Ohio RR. July, 1898
1st mortgage Turtle Creek division.......................
326,600
6
F. & A. Pittsb., First Nat. Bank Aug. 1, 1889
10 1859 100 &c.
£200
Consol, mortiguar. B. & O. (s.f. £7,200 pr. yr.j.. 149 1876
6.321.000
6 g. T. & J. London. J.S.Morgan&Co Jan. 1, 1926
2d consol, mortg., gold (pledged for B.& 0. bonds). 149 1885 100 &c. 10.000,000
New York Agency.
5 g- F. & A.
Feb. 1, 1925
For three months from Dec. 1,1885, to Feb. 28, 1886, gross earning8 which is controlled by Baltimore & Ohio, and the Baltimore & Ohio
(Including Central of New .Jersey! were $9,583,747, against $8,845,805 Company guarantees interest on the P. C. & T. bonds (see terms in V.
In 1884-5; net, $2,278,992, against $2,014,087 in 1884-5.
39, p. 607.) V. 40. p. 53.
The annual report for the year ending Nov. 30,1885, was in V. 42, p.
C incinnati & St. L o u
61 and 91, and gave the income account as below, including the Central toP ittsb u rg Ohio, 193 u iles; branch tois.—Owns from Pittsburg, Pa.,
Columbus,
Cadiz, Ohio, miles;
o f New Jersey leased lines. From this report it appears that the decrease miles. This was a consolidation of several companies,8May 1, total, 201
1868, in
in net receipts in 1884-85 was $890,305. The floating debt Nov. 30, cluding th« Steubenville & Indiana and the Pan Handle roads. This com
1885, was $25,070,177, against $23,517,623 the previous year, an in pany is controlled by the Penn. Company, through the ownership of a
crease of $1,552,554.
majority of its stocK. This company also held leases of the Little Miami
GROSS AND NET RECEIPTS.
and its dependencies. Common stock, $2,508,000; first nref. $2,929,200;
1884-85
1883-84.
1882-83.
second preferred, $3.000,000; par value of shares, $50. Authorized
Gross receipts.............................. $44,643,966 $47,450,848 $46,836,786 amount of 1st mort. $10,000,000, of which $3,137,000 roserved to take
Gross expenses........................
32.015,069
34,054,314 31,450,943 up prior liens.
The report for the year 1884, in V. 40, p. 651, said that the tonnage
$13,396,534 $15,385,842 was 3,630,919 tons, against 3,466,544 in 1883, an increase
Net earnings........................... $12,628,897
transported
of 164,375 tons, mainly in coal stone, lime and grain. There was a
The income account was briefly as follow s:
decrease in freight earnings of $537,454, nearly all of which was on
INCOME ACCOUNT.
through tonnage. The average rate received per ton per mile was 6 3-10
1884-85.
1883-84.
mills as compared with 7 6-10 mills for the previous year; the average
Net receipts, both companies............................$12,628,897 t$13,519,201 cost was also decreased, but not to as large an extent, the result being
From this deduct: For the Railroad Com panya decreased profit on this class of traffic. There were carried 1,323,074
Debit balance renewal fund.............................
$ ............
$42,208 passengers, as compared with 1,235.933 in 1883. the gain being in local
Debit balance, profit and loss..........................
82,430
38,236 travel. There was a decrease of $32,139 in passenger earnings, there
18,898
Btate tax on capital s to c k ...............................
42,221 being a reduction in the rates on both local and through traffic. There
All rentals and full interest on alll outstand
was a large decrease in expenses in almost all departments.
ing obligations, including floating debt....... 16,184,453
15,609,499
The report for 1885 is not yet issued, but the following has been cor
D educt: For the Coal & Iron Co.:
rected for the S u p p l e m e n t ,
Full interest on all outstanding obligations
Comparative statistics for four years are as follows:
other than those held by the Railroad Co.. .
940,997
1,142,286
1882.
1883.
1884.
1885.
$
$
$
$
J .
$17,226,778 $16.874,453 Total gross earnings. 4,214,923
4,623,740
4,045,257
4,033,673
Balance of both companies......................... def.$4,597,881 df. $3,355,251 Op. ekp. and taxes..
2,831,000
3,037,465
2,731,960
2,631,683
1 The slight difference from the figures above is due to miscel’s rec’p’ts.
—(Y. 40, p. 29, 53, 74, 9 1 , 93, 110, 120, 144. 183, 214, 241, 270, 281,
1,383,923
1,536,275
1,313,297
1,351,990
305, 364, 393, 394, 426,454, 481, 508,542,569, 585,626, 653,685: Y. 41 P.c.of op.ex.to eam’s
67-17
66-77
67-53
66-48
P- 24.50,134,160, 216, 242, 273, 307, 331, 357, 393,421,446, 473, 496,
INCOM ACCOUNT.*
E
528,586,654, 689: V. 42, p. 23, 61, 9 1 , 94,157, 216, 234,272, 304, 339
1882.
1883.
1884.
1885
3 6 5 ,3 9 3 ,3 9 4 ,4 3 1 ,4 6 2 ,4 6 4 ,4 8 8.)
’
Receipts—
$
$
$
$
P h ila d e lp h ia & T re n to n .—Owns from Kensington, Pa., to Mor
1,383,923
1,536,275
1,313,297
1,351,990
risville, Pa., 26 miles and Tioga Branch, 1 mile; leased—Trenton Bridge Rentals and interest;
19,636
8,784
4/624
4,835
Connecting Railroad, 7 miles, and Frankford & Holmesburg Railroad, 4 Net from l’sed roads.
609,271
401,132
423,531
378,330
miles; total owned and leased, 39 miles. On Dec. 1, 1871, it was Miscellaneous............
86,521
589
leased with the United Companies of N. J. to the Penn. RR., at 10 per
cent on stock, and is operated as a part of its New York division.
2,099,351
1,946,191
1,741,452
1,735,744
Disbursements—
P h ila d e lp h ia W ilm in g to n & B a ltim o r e .—Mileage as follows:
$
$
825,447
Philadelphia Wilmington & Baltimore RR., 122 miles ; Philadelphia & Rentals paid.............
856,345
849,920
830,881
851,990
Baltimore Central, 79; Delaware RR., 100; Queen Anne & KentRR., Interest on fund, d’bt
714,490
646,990
646,990
222,985
2 6 ; Delaware & Chesapeake, 55 ; Cambridge & Seaford RR., 27; Del Other interest...........
231,216
183,850
178,615
105,000
Md. & Va. RR., 98 miles ; total operated, 506 miles. Owns over half the Int.on C.&M.Val.bds.
105,000
105,000
52,500
stock of the Phil. & Balt. Cent.
Loss onSt.L.V.&T.H.
82,534
33,011
“ Cin.&Mus. V. RR.
This road on the main route, Philadelphia to Baltimore, has been
42,003
66,917
profitable, paying regular dividends, with a considerable surplus. From Miscellaneous..........
10,418
27,888
1870 dividends of 8 per cent on the stock have been paid each year. In
1881, nearly the whole stock was purchased and is held by Penn.
Total.................... 2,005,422 2,000,033
1,888,662
1,775,903
K B . Co *
Balance..................... sur. 93,929 def.53,842 def.147,210 def. 40,159
For four years the income account was as follow s:
* .Exclusive of Col. Chic. & Ind. Cent.
INCOME ACCOUNT.
GENERAL BALANCE AT CLOSE OP EACH FISCAL TEAR.
1881-2.
1882-3
1883-4.
1884-5.
1882.
1883
1884.
1885.
$
Assets—
$
$
$
$
Gross earnings. . . . . . . . 5,428,092
5,741,672 5,820,323 5,678,588 RR., equipment, &c.. 19,995,963 20,605,107 20,798,277 20,870,740
Receipts—
Stocks owned, cost..
57,299
1,085,967
1,085,967
1,035,967
Net earnings................ 1,751,598
1,675,997
1,855,178 1,789,816 Bonds own«d, c o s t..
283,000
23,750
23,750
Other receipts...............
103,258
109,349
133,496
656,777
122,373 Betterm’tstol’s’d r’ds
20,318
21,744
38,170
Bills & accts. receiv..
1,001,034
1,107,502
1,119,287
1,036,391
Total income.......... 1,854,856
1,785,245 1,988,674 1,911,189 Materials, fuel,& c...
832,930
474,337
292,014
389,995
Disbursements—
$
Cash on hand............
437,707
317,725
258,918
276,134
Rentals paid..................
331,417
64,639
285,329
64,639
64,639
64,639
331,338
386,631 Cin. Str. Conn. R y ...
Interest on debt............
180,284
282,465
232,415
211,778
396,124
201,485
428.482
200,000 Profit & loss balance
Taxes.............................
54,367
48,234
47,682
47,686
Dividends, 8 per c t_
_
943,604
Total assets____ 23,611,814 23,908,010 24,060,720 24,214,268
943,604
913,604
945,548
Miscellaneous...............
13,170
Liabilities—
$
150,133
14,543
$
$
11,674
$
Stock, common........
2,508,000
2,508,000
2,508,000
2,508,000
Total disbursem’ts... 1,522,842
5,929,200
Stock, preferred.......
1,639,078 1,538,653
5,929,200
5,929,200
5,929,200
1,591,542
Bonds......................... 12,617,000 12,617,000 12,617,000 12,617,000
Balance, surplus..........
332,014
146,167
450,016
319,647 Allother dues& acc’ts
1,212,134
1,692,961
1,451,050
2,013,724
—(V. 42, p. 126.)
Due Little Miami RR.
847,390
847,360
845,826
845,826
P i n e C r e e k .—From Catawissa Junction to Stokesdale on the Corning Due C. C. & I.C. RR .
184,601
C. & A. Road, 75 miles. Formerly Jersey Shore Pine Creek & Buffalo R R Cin. Street Conn.bds.
262,500
262,500
262,500
262,500
It is operated by the Fall Brook Coal Company, and forms a connection Miscellaneous............
50,989
50,989
447,144
38,018
between Philadelphia & Reading lines and N. Y. Central, and bonds are
guaranteed by these companies and the Coming C. & A., on the condi
Total liabilities . 23,611.814 23,908,010 24,060.720 24*,214.268
tion1 that guarantors shall advance money for interest if needed and —(Y. 40, p. 286, 356, 6 5 1 ; V. 42, p. 366.)
take 2d mortgage bonds for such advances. Stock $999,000. Stock
P
C on n e llsv llle.—Owns from Pittsburg, Pa., to
?Soob0nds Y ere>larSel7 held by Mr. W. H. Vanderbilt. Gross earnings in Mt. ittsb u rg & Md., 147 miles; branch, 2 miles; leased lines; 22 miles;
Savage June.,
!8 8 3 were $188,728; net, $17,400. Gross in 1884, $460,263; net, $94,374
—(V. 41, p. 613, 689.)
n; total, 171 miles. Leased to the Balt. & Ohio Railroad since Jan. 1,
1876. The city of Baltimore transfen ed its interest to the Balti
P it t s b a r g C leveland Jk Toledo1 —(See Map o f Baltimore < Ohio.) more Railroad for $1,000,000, and the consolidated sterling mort
.
&
rum ^ J a ^ ca?tle
Pa., o Akron, O., 77 miles. Stock $3,000,- gage was made and guaranteed by the Baltimore & Ohio, of which
V00, par $50. Leased in July, 1884, for 99 years, to Pittsburg & Western, enough is reserved to retire the prior bonds. It is operated as the
A p r i l , 1886.
RAILROAD STOCKS AND
BONDS.
77
Subscribers w ill confer a great iavor by g iv in g im m ediate notice o f any error discovered in tbese Tables.
DESCRIPTION.
on first page of tables.
Pittsburg Ft. Wayne dt Chicago—Stock, guar..
Special improvement stock, guaranteed.......
1st mort. (series A to F) ) Bonds all coupon
2d do (series G to M) > may be made pa
3d mortgage.................. ) to order.
Pittsburg, Ft. Wayne & Chic, construction bonds.
Pittsburg Junction—1st M., gold.................................
Pittsburg dt Lake Erie—Stock.....................................
1st mortgage, gold, coupon.....................................
Pittsburg McK. dt Youghiogeny—Consol, stk., guar .
1st mortg., guar.........................................................
2 d m o rtg ...................................................................
Piitsb. Va. dt Charleston—1st mortgage, gold............
Pittsburg dt Western.—1st mort., g. (for $6,000,000)
1st mortgage, Pitts. Brad. & Bun............................
Consol, mortgage.......................................................
Port Huron dt Northwestern—1st mortgage.............
Consolidated mortgage.............................................
Equipment mortgage................................................
Port Royal dt Augusta—1st mortgage.........................
2d mort., endorsed by Central G a ............... ...........
Augusta & Knoxville mortgage...............................
General mortgage income bonds, c o u p ..................
Portland dt Ogaensb.—1st mort., g o ld ..................... .
Consol, mortgage (for $3,300,000)..........................
Portland dt Rochester—Stock ($600,000)................ .
Portland Saco dt Portsmouth—Stock...........................
Portsmouth dt Dover—Stock.........................................
Portsmouth Qt. Falls dt Conway—Stock.....................
1st mortgage.............................................................
Poughkeepsie H artford dt Boston—1st mort..............
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or Amount
pal,When Due.
of
of
Par
When
Outstanding Rate per Payable Where Payable, and by Stocks—Last
Road. Bonds Value.
Cent.
Whom.
Dividend.
468
468
468
468
468
1871
1862
1862
1862
....
1857
4Q 1881
70
70 1878
62 1884
1882
62 1884
70 1882
120 1881
103 1881
....
218
218
218
24
112
112
68
60
94
53
51
11
73
73
42
1879
1882
1881
1878
1882
1880
1878
1870
1871
....
....
1877
1875
$100 $19,714,286
100 10,776,672
500 &c.
5,250,000
500 &c.
5,160,000
500 &c.
2,000,000
1,000
100.000
1,000
1,440,000
50
2,050,000
1,000
2,000,000
50
3,000,009
1,000
2,250,000
1,000
” 750,000
1,000
3 000,000
1,000
4,161,000
1,000
800,000
271,400
755,000
920,000
138,000
724,276
100 &c.
250,000
112,000
....
630,000
100 &c.
1,500,000
500 &c.
800,000
100 &c.
2,377,000
_
_
588,000
100
1,500,000
100
769,000
100
1,150,300
500 &o.
1,000,000
—
16,000
Pittsburg Division of the Baltimore & Ohio RR. In 1884 the Balt. &
Ohio issued its bonds for $10,000,000 secured by pledge of the above 2d
consolidated mortgage of the Pittsburg & Connellsville RR. Stock is
1,944,400. In 1881-82 net earnings were $1,542,125; in 1882-83
1.478,274; in 1883-84, $1,042,132.
P ittsb u rg F o rt W a y n e Sc C h icago.—Owns from Pittsburg, Pa.,
to Chicago, IQ., 468 miles. The company made default Oct. 1,1857, and
again in 1859. and 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 to the Penn. RR. ajt a rental equivalent to interest,
sinking fund of debt, and 7 per cent on $19,714,286 stock, which was
increased at that ome from $11,500,000. The lease was transferred
subsequently to the Pennsylvania Company. The lessees are to keep
the road in repair and also pay taxes, expenses, &c. The rental ana
interest charge is about $2,980,000 per year, and the profit to lessees
had been large; in 1884 and 1885, however, there was a loss to lessee.
The Pitts. Ft. Wayne & Chic, leases the Newcastle & Beaver Val. and the
Lawrence roads, which in turn are leased again by the Pennsylvania Co.
The first mortgage bonds are in six series lettered A to F inclusive,
of $875,000 each series, the interest on “ A” series being payable Jan.
and July; on “ B” it is February and August; on “ C” it is March and
September; on “ D” it is April and October; on “ E” it is May and Nov.,
and on “ F” it is June and December. The second mortgage is also in
six series of $860,000 each, lettered H to M inclusive (J omitted), and the
.interest is payable Jan. and July on “ G” series, Feb. and Aug. on “ H,”
March and Sept, on “ I,” April and Oct. on “ K,” May and Nov. on “ L,”
and June and Dec. on “ M.” The bonds are coupon, but may be regis
tered payable to order. Of the 1st mortgage bonds, $1,337,500, and of
the 2d mortgage $1,587,500, and $354,088 cash, were held in the sink
ing funds Jan. 1, 1881. The special improvement stock is issued to
Pennsylvania RR. for improvements, &c., under article 16 of lease,
which provides that the lessee may issue special bonds or stock, and
says: “ The said party of the second part shall guarantee the payment,
semi-annually or quarterly, thereon of such rate of interest as may be
agreed upon between the parties hereto, to be paid by the said party of
the second part to the holders thereof without deduction from the
rent Hereinbefore reserved; and the said special stock, or bonds, or
other securities, shall be issued only in respect to improvements of and
additions to the said railway which, and estimates and specifications
of which, shall have been submitted to and approved by the said party
of the first part In writing.” * * *
It was proposed to change the terms of the lease so as to issue bonds
to the lessee instead of the special guaranteed stock, but this was not
consummated.
Operations and earnings for four years past were as follow s:
Passenger Freight (ton)
Gross
Net
Div’d
Tears. Miles. Mileage.
Mileage.
Earnings.
Earnings, p. ct.
1882---- 468 140,057,682 991,907,501 810,894,870 $4,622,476
7
1 8 8 3..
.. 468 127,520,075
944,563,376 10,844,358 3,927,688
7
1 8 8 4 ..
.. 468 110,639,940
907,951,237 9,164,041
3,129,152
7
1 8 8 5..
.. 468
................................ 8,017,875 2,379,293
7
—(V. 40, p. 28,121, 356, 427,626.)
P ittsb u rg J u n ctio n ,—
>From Monongahela River to Allegheny
River, Pittsburg, Pa., 4*4 miles, including side tracks and branches.
Built under auspices of B. & O. and Pittsburg & Western, which compa
nies made an agreement to pay $2 for each car, and guaranteed (separ
ately) a minimum of $240,000 per annum. In 1885 gross earnings
were about $100,000 and net about $85,000. Common stock is $960,000.
Preferred stock, $480,000, owned entirely by Baltimore & Ohio RR.
- ( V . 42, p. 126 )
P it t s b u r g Sc L a b e E r ie .—Owns from Pittsburg, Pa. to Youngs
town, Ohio, 68 miles; branch line to Newcastle, Pa., 2 miles; total, 70
miles. Leased from Jan. 1,1884, for 99 years, the Pittsburg McKeesport
& Youghiogheny RR , from Pittsburg to New Haven, Pa., 57 miles, with
branches, 5 miles. Scrip certificates for $615,000, bearing 6 per cent
interest and payable at will, are also outstanding. This company is
managed in the interest of Lake Sh. & Mich. So.. Gross earn, in 1885,
$1.201,312; net, $394,407. In 1884 gross, $1,193,521; net, $384,294.
See report Y. 42. p. 124. (Y. 40, p. 9 1 ; V. 41, p. 307; V. 42, p. 1 2 4 .)
P ittsb u rg M c K e e s p o r t Sc Y o u g h io g h en y .—Owns from Pitts
burg to New Haven, Pa., 57 miles; branches, 5 miles; total, 62 miles.
Road opened Nov., 1883, and leased to Pittsb. & Lake Erie RR. for 99
years, 6 per cent on the $3,000,000 stock and principal and interest of
the bonds being guar, by P. & L. Erie and Lake Shore & M. So. Cos., the
guarantees being endorsed on the share certificates and bonds. Gross
earnings in 1885, $587,723; net, $320,270; paid interest and dividends,
$359,173; deficit, $38,903. W. C. Quincy, President, Pittsburg, Pa.
—(V. 40, p. 763.)
P ittsb u rg V irg in ia Sc C h arleston.—From South Pittsburg, Pa.,
to (Jniontown, Pa., 70 miles. The stock is $1,505,000. The bonds and
$1,251,050 of the stock are owned by the Penn. RR. Dividends of $1 50
per share paid in March and September, 1885.
P ittsb u rg Sc W e ste rn .—Owns from Alleghany City, Pa., to New
Castle, Pa., 64 miles; Gallery Junction to Mt. Jewetr, 137 m iles; Duck
Run Branch, 3 miles; Clarion Branch, 6 miles; other branches, 2 miles;
total, 315 miles. Leases P. C. & T o l, New Castle Junction, Pa., to Val
ley Junction, O., 77 miles, and U6es 26 miles of CL Mt. V. & DeL RR.,
Akron, O., to Orville, O. This was a consolidation of several roads,
dated June 15, 1881, and in 1883 Pittsburg Bradford & Buffalo was
acquired. The mortgage was executed Oct. 1, 1881, to the Mercan-
§
1%
1%
7
7
7
7
6 g.
10 s.
6 g.
Ha
Q.—J. N. Y., Winslow, L. & Co.
do
do
Q .-J .
Various
do
do
Various
do
do
A. & O
do
do
J. & J.
do
do
J. & J. New York & Pittsburg.
J. & J.
Q .-J .
J. S J.
r.
J. & J.
6
A. & O.
5
6 g. J. & J.
A. & O.
6
6, 188«
1, 1886
1, 1912
1, 1912
1, 1912
1. 1887
1921
1883
N. Y., Phila. & Pittsb. July 1. 1928!
July 1, 1885
July 1, 1932
do
do
July 1, 1934
Philadelphia.
April 1, 1912
Last paid Jan., 1835.
July 1, 1921
April 1, 1911
Last paid Oct., 1884.
1911
N. Y., First Nat. Bane. Oct. 1, 1899
Mar. 1, 1922
do
do
7
6
7
A. ds O.
M. & S.
F. & A.
6
6
7
6
6 g6 g.
2
3
3
3
4H»
7
J. & J. N. Y., 252 Broadway.
..
J. & J.
J. & J.
M. & N.
J.
J.
J.
J.
& J.
& J.
& J.
& D.
—
N. Y., Nat. City Bank.
N. Y., 252 Broadway.
Last paid July, 1883.
Last paid May, 1883.
Portland.
Boston, Office.
Portsmouth, Treas,
Bost., Eastern RR. Co.
do
do
Apr.
Apr.
July
July
July
Jan.
Jan. 1, 1899s
1898
July 1, 1900’'
Jan. 1, 1899s
Jan., 1900
Nov., 1901.
July, 1885
Jan. 15,1886
Jan. 1, 1886
July 15, 1873
July 2, 1937
1905
tile Trust Co., covering the projected lines. In July, 1'384, leased the
Pittsb. Cleveland & Toledo RR., giving line to A bgn , O. Operated in
the Baltimore & Ohio interest. Stock, $7,250,000. In addition to above
bonds, there are about $300,000 other issues, for which 1st morgV
bonds are reserved. Guarantees, with Baltimore & Ohio, the Pittsburg
Junction bonds. On March 23, 1885, on application of the mort
gage trustees, James Callery and J. W. Chalfant of Pittsburg were
appointed receivers. In 1882-83 gross earnings, $342.336; net, $77,426,
In 1883-84, gross earnings, $685,035; net, $200,221. James Callery.
Pres., Pittsburg. (V. 40, p. 305, 394, 454.)
P ort H u ro n Sc N orthw estern.—Port Huron to East Saginaw,
91 miles; Saginaw Junction to Sand Beach, 58; Port Austin to Palms,
35; Port Huron to Almont, 34; total, 218 miles. In 1884 gross earnings
were $288,964; net earnings, $77,59o; interest payments, $133,187. In
1883 gross, $314,780; net, $116,250; interest payments, $119,104.
John P. Sanborn, President, Port Huron, Mich.
P o rt Jervis Sc M o n tic ello .—Owns from Port Jervis, N Y., to
Monticello, N. Y., 24 miles. Formerly the Monticello & Port Jervis
RR., which was sold in foreclosure July 16, 1875, and reorganized
as the present Port Jervis & Monticello. Gross earnings in 1882-83.
$33,399; net, $5,150; 1883-84, gross, $39,370; deficit, $15,528. The
stock ($724,276) was issued to the former holders of first mortgage
bonds, of which bonds $50,000 are still out. (V. 40, p. 653.)
P o rt R o y a l Sc A u g u sta .—Owns from Port Royal, 8. C., to Augus
ta, Ga.. 112 miles. Leased in Sept., 1883, the Augusta & Knoxville road,
Augusta, Ga., to Greenwood, S. C., 68 miles, for 99 years, at 5 per cent
on stock of $127,639, and assuming the bonded debt. Formerly Port
Royal Railroad. Defaulted Nov. 1,1873, and receiver appointed May 9,
1875. Sold in foreclosure June 6,1878, and purchased for the bond
holders, who organized this company. The Georgia Railroad was en
dorser on $500,000 of the old bonds. The stock is $750,000, and in
June, 1881, a controlling interest was purchased by Central Georgia R R .
parties. Earnings for 1884-85 compared with previous years as follows:
1882-83.
1883-84.
1884-85.
$307,640
$412,164
Gross earnings.......................$307,100
Operating expenses.............. 272,112
282,050
354,016
Net earnings.................... $34,987
$25,590
$58,148
—(V. 40, p. 183.)
P o rtla n d Sc O gdensbnrg.—Owns from Portland Me., to Fabyans,
91 miles. It reaches the Vermont Division (now St. Johnsbury & Lake
Champlain) by using 14 miles of the Boston Concord & Montreal RR.
and a 3-mile link of its own. In 1876 the conipany made default on the
1st mortgage interest and foreclosure proceedings were begun, but cemromise was made by giving notes for overdue coupons up to July, 1878.
aterest is not paid on the consolidated mortgage, of which the city of
Portland holds $1,350,000. The city of Portland owned a controlling
interest in the stock, which is $1,052,186.
In March, 1884, a foreclosure suit was begun and receivers appointed
and power to issue $200,000 receiver’s certificates was given by the
Court. In June, 1885, a decree of foreclosure in six months was made,
and a plan of reorganization was stated in V. 41, p. 421; also the plan
of 2d mortg. bondholders in V. 41 p. 466.
Earnings of the road for four years past were as follows :
Net Eam'gs.
Years.
Miles.
Gross Earn’gs.
1881-82................................. 94
$354,173
$106,304
1882-83................................. 94
338.844
49,720
1883-84................................. 94
334,673
89,881
1884-85................................. 89
361,993
99,157
-(V . 40, p. 121, 685: V. 41, p. 216, 393, 421,466. 654; V. 42, p. 126.)
P o rtla n d Sc R o ch ester.—Owns from Portland, Me., to Roches
ter, N. H., 53 miles. The old company was put in the hands of a
Receiver February, 1877. Foreclosure suit was begun, but a settle
ment was made in 1881 by which all the old stock and bonds were con
verted into the stock of the new company. In Nov., 1885, a lease to the
Boston & Maine was made for 50 years. Gross earnings in 1883-84,
$183,808 ; net, $25,229. In 1884-85, gross, $181,900 ; net, $25,272.
P o rtla n d Saco Sc P o r ts m o u th .--Portland, Me., to Portsmouth,
N. H., 51 miles. It was leased May 4,1871, to the Eastern Railroad,
Mass., at 10 per cent on stock. Lease rental changed May 21, 1877,
and now 6 per cent. The Boston & M_aine,Railroad leased the Eastern
in 1884 with all its leased roads.
P o rtsm o u th Sc D ov er.—Portsmouth, N. H., to. Dover, N. H., 11
miles. Opened February 1, 1874, and leased for 50 years to Eastern
of New Hampshire at 6 per cent per annum on the stock. Operated
now bv Eastern (Mass.) Frank Jones, President, Portsmouth, N. H.
P o rtsm o u th Great F a lls Sc C on w ay .—Owns from Conway
Junction, Me., to North Conway, N. H., 73 miles. The Eastern Railroad
in Massachusetts has made a lease of the road for 60 years from Deo. 1,
1878, with a guaranteed rental of $45,000 a year, which pays 4*3 per
cent on $1,000,000 bonds, and the stock is to receive the same dividends
as the stock of the lessees. Total stock, $1,150,300, of which lessees
own $551,300.
P ou gh keep sie H a rtfo rd Sc R o sto n .—Owns from Poughkeep
sie, N. Y., to Stissing, and branches to Pine Plains and State One, 47
miles. The Pough. & East. RR. was sold in foreclosure May 15,1875.
This road was sola in foreolc sure Jan. 26, ’84, under the second mort., and
again foreclosed in i 886 under a small 1st mortg. to give a clear title
to the property. (V. 38, p. 149.) In 1883-84, gross earnings, $47,803;
net, $6,560. In 1882-83, gross. $57,712; net, $10,350. 5 . P. Pelton,
President. Poughkeepsie, N. Y ' (V. 42, p. 397.”
E
7 8
KAILROAD STOCKS AND
BONDS.
[V o l . XLIT.
Subscribers w ill confer a great favor by giv in g im m ediate notice o f any error discovered in these T ables.
Bonds—Princi
DESCRIPTION.
INTEREST OR DIVIDENDS.
pal,When Due.
Miles Date Size, or
Amount
Par Outstanding Rate per When Where Payable, and by Stocks—Last
For explanation of column headings, &e., see notes of
of
Whom.
on first page of tables.
Road. Bonds Value.
Cent. Payable
Dividend.
Providence A Spring/.—1st M. (end. by City Prov.).
Providence A Worcester—Stock..................................
Bonds...........................................................................
Raleigh A Augusta—Stock ($1,000,000 pref.)..........
Raleigh A Qaston—1st m ortgage.........*___............
Reading A Columbia—1st m o r t, coup, (extended)..
2d mortgage, coupon (extended in 1884)...............
Debentures..................................................................
Lancaster & Reading, 1st mortgage.......................
Rensselaer A Saratoga—Stock.....................................
1st mortgage, consolidated (for $2.000,000)........
Richmond A Alleghany—1st mortgage, gold............
Second mortgage, gold ($4,000,000).....................
Richmond A Danville—Stools........................................
3d mortgage, (consol, of 1867) coup, or reg........
GeneralInort., gold (for $6,000,000).....................
Debenture mortgage bonds, cumulative................
Piedmont branch, 1st mortgage.............................
Northwestern, N. C., 1st mort., guar......................
Richmond York River & Ches., 1st mortgage........
do
do
2d mortgage........
Rick’d Fredericksburg A Potomac—Bonds, ster........
Dollar loan.................................................................
Coupon bonds of 1890...............................................
Coupon bonds of 1 9 0 1 ............................................
Richmond A Petersburg—
Stools..................................
1st mortgage, coupon...............................................
Consol, mortgage ($50,000 are 7s).........................
Richmond A West Pt. Ter. R. A T . Co.—Stock..........
V
Trust notes, secured by collateral................ ........
23
51
98
97
40
40
15
193
79
252
252
756
141
141
48
29
38
38
___
1872
1877
1873
1862
1864
1877
1873
1871
1880
1881
1867
1874
1882
1868
1873
1873
1880
25
25
25
1870
1875
....
1885
$1,000
100
....
$500,000
2,500,000
1.242.000
1.873.000
1,000
1,000,000
lOO&c.
650,000
1.000
350,000
1,000
1,000,000
100 &c.
350,000
100
6,854,100
1,000
1,925,000
1,000
4,925,000
1,000
2,964,000
393,000
100
5,000,000
100 &c.
627.500
1.000
4,785,000
1,000
3,969.000
1,000
500,000
1.000
500,000
1,000
400,000
1,000
400,000
....
58,216
....
309,594
150,000
300,000
100
1,000,000
1,000
' 50,000
500 &c.
290,000
100
15,000,000
5,000
2,250,000
Providence Sc Springfield.—Providence, R. I., to Pascoag, 23
miles. It was proposed to extend the road to Springfield, Mass., 80 miles.
Stock is $516,850. In 1882-83, gross earnings, $96,241; net, $27,298.
In 1883-84, gross earnings, $93,240 ; net, $34,354; interest, $34,308.
P rovidence & W o rce ste r.—Owns from Providence, R. !.. to
Worcester, Mass., 44 miles ; brandies, 7 miles ; total operated, 51 miles.
Notes outstanding are $441,300. Operations for three years were :
Passenger
Freight (ton)
Gross
Net
Div.
Mileage.
Income.
Income, p. c.
years.
Miles.
Mileage.
6
188283 .. 6620,585,077 23,174,410 $1,158,394 $322.330
21,596,079
1,136,633 274,832
6
1883- 8 4 .. 51
20,757,058
188485 .. 5120,429,299 24,161,818 1,077,166 321,508*
6
—(Y. 41, p. 55 5 .)
R a le ig h & A u g u sta .—Owns from Raleigh, N. 0., to Hamlet, N. C.,
98 miles; Hamlet to Gibson, 10 miles; total, 108 miles. Formerly
Chatham Railroad, and is controlled by Raleigh & Gaston. Earnings
1883-84. $240,594; net, $20,641.
R a le ig h Si G aston .—From Raleigh to Weldon, N. C.. 98 miles.
The stock is $1,500,000. In Oct., 1884, 3 perct. dividend paid, 3 in Oct.,
1885, and 2 in April, ’86. John M. Robinson, Pres’t, Baltimore. Earnings
have been as follows (none later reported): in 1881-82, gross, $446,951;
net, $99,294; in 1882-8 3, gross, $471,440; net, $154,030.
R ea d in g & C olu m b ia.—Owns from Columbia to Sinking Springs,
Pa., 40 miles; branches, 8 miles; Lancaster^ & Reading Railroad,
leased, 15 miles; total operated, 63 miles. Stock, $958,268. The
road is controlled and operated by Philadelphia & Reading, but
accounts kept separate.
The first mort. 7 per cent bonds due 1882
were extended 30 years at 5 per cent, and the 2d 7s due 1884 were ex
tended twenty years at 5 per cent. Gross earnings in 1884-85, $356,108; net earnings, $76,362; 1883-84, gross, $394,819; net, $53,838.
R en sselaer & Saratoga.—Owns from Albany to Lake Cham
plain, N. Y., 79 miles; Troy to Waterford Junction, N. Y . 6 miles;
Whitehall, N.Y., to Castleton, Vt., 14 miles; Eagle Bridge to Rutland,
Vt., 62 miles; other, 2 miles; leased: Ballston to Schenectady, 15
miles; Fort Edward to Caldwell, 15 miles; total operated, 193
miles. It was a consolidation of several lines, and the Delaware &
Hudson Canal Co. leased the whole March 1,1871, at a rental of 8 per
cent on the stock and interest on the bonds. In the fiscal year end
ing Sept. 30,1885, the payments by the lessee company for rentals were
$754,276, leaving a deficit of $33,102. Operations have been:
Passenger Freight (ton)
Gross
Net
Div.
Years. Miles.
Mileage.
Mileage.
Earnings. Earnings, p.c.
188182. 19328,378,001 65,388,489 $2,104,596 $828,908
8
188283. 19329,612,425 68,780,201
2,149,043
764,587
8
188384. 19330,286,267 70,330,754
2,136,356
707,333
8
188485.......................
......................
2,097,967 721,163
8
—(V. 41, p. 162, 558.)
R ic h m o n d & A lle g h a n y .—Owns from Richmond to Clifton Forge,
230 miles; branch to Lexington, 19 miles; dock connection, 1 mile;
leased, Buckingham RR., New Canton to Arvon, 4 miles; Valley RR. con
nection, 2 miles; total, 256 miles. The company was chartered Feb. 27,
1879, and acquired by purchase tne properties and franchises of the James
River & Kanawha Canal Co., and the Buchanan & Clifton Forge Railway
Co., including water rights on James River and terminals in Richmond';
the cost of these in stock and cash was $6,588,609.
The stock is $5,000,000. Of the 2d mortgage bonds for $4,000,000,
$2,964,000 were sold and $1,036,100 pledged for loans. The receivers’
ceitiflcates Sept. 30,1885, were $209,500; and in addition to the bonds
given above there were $71,000 City of Manchester bonds assumed and
$34,000 Manchester improvement bonds issued. In May, 1883, default
o n the mortgage interest was made, and on June 23 receivers were
appointed. In Sept., 1885, arrangements were made to defer payments
on principal of car trusts for five years.
The plan of reorganization (given substantially in Chronicle V. 40 p.
152) will allow first mortg. bondholders to take a new 1st rnortg. 5 per
cent gold bond, drawing interest from Jan. 1, 1887, and $300 mpref.
and $300 in com. stock. Second mortg. bondholders pay $5 cash for
bond of $1,000 and get $600 in new pref. stock. Stockholders get 70
per cent in new common stock on paying in $3 cash for each new share
o f $100. Earnings from operations for three years ending Sept. 30 were:
1883.
1884.
1885.
Gross eam’gs, incl. rents, docks, &c. $635,327
$604,083
$589,591
420,104
404,918
Operating expenses.......................... 406,900
7
3
6
J. & J. Providence,Am. Nat.Bk July 1, 1892
J. & J. Providence, Office.
Jan. 2, 1886
A. & 0. Providence R. I.H.T.Co.
1897
8
5
5
6
7
4
7
7 g.
J. &
M. &
J. &
J. &
J. &
J. &
M &
J. &
M. &
I® ’
2
6
6 g.
6
8
6
8
6
6 g.
5, 6 ,7
8
6
2^2
8
6&7
7
J.
S.
D.
D.
J.
J.
N.
J.
N.
Q.—F.
M, Si N.
J. & J.
A. & O.
A. & O.
A. S O.
r
J. & J.
M. & N.
J. & J.
J. & J.
J. & J.
M. & N.
J. & J
A. & O.
M. & N,
Phila. ,Pa. ,& Ral’gh.N. C.
Phila., Co.’s Office.
do
do
do
do
do
do
N. Y., Nat. B’k Com’roe.
N.Y., Del.& H.Canal Co.
Last paid Jan., 1883.
Last paid Nov., 1882.
Jan., 1898
Mch. 1, 1912
June 1,1904
Dec. 1, 1917
July 1, 1893
Jari. 1, 1886
Nov., 1921
July 1, 1920
May 1, 1916
1890 to 1895
N. Y., Met. Nat. Bk. Aug. 15, 1882
N. Y., Central Trust Co. May 1, 1890
do
do
1915
do
do
April 1, 1927
do
do
1888
Richmond.
1902
do
1894
do
1900
London.
1885
Richmond, Office.
1895-’99 1902
Phil. .Townsend W.& Co.
1890
Richmond, Office.
1901
Richmond, Office.
Jan. 2, 1886
do
do
1886
do
do
IMay 1, 1915
J. & J. N.Y. Central Trust Co.
Jan., 1887
ville Railroad Company indirectly controls and operates the following
Hues of railway: Charlotte Columbia & Augusta, 191 miles; Columbia
& Greenville, 197 miles ; Chester & Lenoir RR. (n. g.), 90 miles ; Chester
& Cheraw (n. g.), 29 miles; Atlantic Tenn. & Ohio RR., 47 miles; Laurens
Railway 31 miles ; Knoxville & Augusta RR., 16 miles ; Richm. & Meek.
Railroad, 31 miles; Spartanburg Union & Columbia 68 miles; Northeast
ern of Georgia, 61 miles; Western North Carolina Railroad, 274 miles;
Asheville & Spartanburg, 50 miles; Virginia Midland Railway,405:
miles ; Georgia Pacific, 313 miles ; total miles thus indirectly controlled
through R. & W. Pt. Ter’l R. W. Co., 1,808 miles; grand total of miles
directly and indirectly controlled by Richm. & Danville RR. Co., 2,633.
Organization, Leases, ifeo.—The Richmond & Danville RR. Co. was
chartered March 9,1847. Dm Piedmont RR. is virtually owned and the
Northwestern North Carolina is also owned. The Rich. York R. & Chesa
peake is leased in perpetuity; the terms of the North Carolina RR.
and the Atlanta & Charlotte Air Line leases will be found under the
names of those companies. The Richmond & West Point Terminal Rail
way & Warehouse Co. (see title of that company belov) is an auxiliary
corporation in which the Richmond .& Danville holds a majority
($7,510,000) of the stock. The Richmond & Danville Extension Co.
was organized to build Georgia Pacific RR., and large advances were
made to it by the Richmond & West Point Terminal Co.
Stock and B onds.—The old stock and bonds of the Richmond & Dan
ville Co. have not been greatly increased in its expansion of late years.
In April, 1882, $1,000,000 stock was issued for $5,000,000 of the Ter
minal Co. stock. The capital stock is $5,000,000, and the first dividend
(3 per cent) was paid in January, 1881. The total dividends in 1881
were 5 per cent; in 1882, 7 per cent: none since.
The stock was listed on the New York Board in Oct., 1881. The high
est and lowest prices since then have been : In 1881 (3 months), 99^ ®
171: in 1882, 52®250; in '1883, 47®72; in 1884, 32®61; in 1885, 447a
®87; in 1886 to April 16, 75® 101.
The total authorized issue of general mortgage bonds is $6,000,000,
of which part is reserved to take up prior Pens, including debt to
State of Virginia and the Piedmont RR. bonds. Early in 1882 the
debenture bonds were sold to Richmond & Danville stockholders at
45, and semi-annual interest was paid on these bonds up to April, 1883,
inclusive. The interest on the bonds is strictly cumulative and thfey
earrv unpaid the coupon of Oct., 1883, and all since, making 18 per cent
April, 1886, and it is proposed to exchange the principal and interest
for a new mortgage bond carrying a lower rate of interest. For terms
of mortgage lien and claim on earnings see Chronicle, V. 37, p. 373
and 421.
The annual report for the year ending Sept. 30,1885, was published
in the Chronicle, V. 41, p. 686, containing the follow ing:
1884-85.
1883-S4.
Earnings $2,660,755
$2,520^561
Freight..................................................
985,708
960,3^5
Passengers............................................
76,042
67,158
Express................................................
171,312
163,452
Mail......................................................
96,418
94,837
Telegraph, rents, and miscellaneous
17,792
19,517
Interest on investm ents...................
Total receipts....................
$3,999,147
Operating expenses........................................
2,231,486
$3,834,737
2,218,977
Net receipts................................................ $1,767,661
$1,615,760
INCOME ACCOUNT.
1882-3.
Net *e venue for the y e a r ........ $1,605,256
Interest on debt, rentals, & c... *1,492,700
1883-4.
$1,617,358
*1,470,908
Balance over all charges......... $112,556
$136,450
1884-5.
$1,767,661
*1,483,097
$284,564
* The int. charge on debent’s is included here in full, but it was not paid.
- ( V . 41, p. 208, 6 8 6 , 722; V. 42, p. 488.)
R ic h m o n d Fred erick sbu rg Sc P o to m a c .—Owns from Rich
mond, Va., to Quantico, 82 miles. In November, 1881, there were
voted dividend certificates for $755,039 to be issued to holders of com
mon stock (70 per cent on each share), to represent money spent on
the property out of earnings. The common stock is $1,030,100; guar
anteed stock, $500,400 (6 per cent except $19.000 guar. 7 per cent), and
“ dividend obligations ” $762,200. In April, 1884, tlie Va. Court
Appeals decided that the guaranteed stock had a claim for “ dividend
obligations ” like those issued to common stock holders, and litigation is
pending. In year ending Sept. 30, 1884, gross earnings were $471,705;
net, $181,165; interest and guaranteed dividend charges, $88,923;
balance net surplus, $92,942. (V. 40, p. 624.)
R ic h m o n d Sc P etersbu rg.—Owns from Richmond to Petersburg,
i., 23 miles; branch, 2 miles; total, 25 miles. The road has earned
oderate dividends and the debt account is very small. In 1883-84
oss earnings, $195,369; net, $87,069. In 1884-85, gross, $192,650;
Net earnings................................$228,427
$183,979
$184,673
—(V. 40, p. 94,152, 4 5 2 , 617; V. 41, p. 122, 446.)
R ic h m o n d & D a n v ille .—Line of Road.—The main line
is from Richmond, Va., to Danville, Va., 141 miles; branches,
12 miles ; Danville, Va., to Greensboro, N. C., 47 miles ; Salem Junction
to Salem, 25 miles; leased: West Point, Va., to Richmond, 38 miles;
Goldsboro, N. C., to Charlotte, 223 miles ; Charlotte, N. C., to Atlanta,
269 miles, and narrow-gauge branches, 70 miles; total owned and
leased, 825 miles, of which 756 miles are operated directly by the Rich
« a * 1 ft«
/ V . d .9 ,. n . 0 .1 .1
mond & Danville Co. and the earnings based thereon, and 69 miles,
R ic h m o n d Sc W e s t P o in t T e rm in a l R a ilw a y * W a r e
mostly of the Atl. & Ch. narrow-gauge branches, are reported separately.
h ou se Co.—This company was incorporated by an act of the Legisla
In April, 1886, the Virginia Midland RR. was leased for 99 years.
By ownership of a majority of the stock of the Richmond & West ture of Virginia of March 8,1880. It is the auxiliary corporation of
Point Terminal Railway & Warehouse Company, the Richmond & Dan the Richmond & Danville RR. Co. controlling several stocks by own
A p r i l , 1886.
RAILKOAD
STOCKS AND
BONDS,
Subscribers w ill confer a great favor toy g iv in g im m ediate notice o f any error
79
discovered in these Tables.
DESCRIPTION.
Bonds—Prinoi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due
Amount
For explanation of column headings, &c., see notes of
of
Par
Rate per When Where Payable, and by Stocks—Last
on first pag? o f tables.
Road. Bonds Value. Outstanding Cent. Payable
Whom.
Dividendi
31
18
91
91
417
97
190
190
409
1882
....
$1,000
100
1878
45
1855
1861
1872
1874
1882
1871
25,000
100
100 &c.
500 &c.
1,000
1,000
1,000
1,000
120
120
___
48
36
120
....
1872
1878
1855
1877
1872
1880
1884
100 &c.
100 &c.
1,000
1,000
1,000
1,000
1,000
252
252
76
331
331
1885
1885
1,000
1,000
100
100
100
$500,000
552,200
1,500,000
150,000
5,293,900
418,100
1,021,500
1,000,000
4.929.000
(?)
500,000
2,480,600
4,000,000
1.500.000
1,500,000
400,000
700,000
446,000
600,000
400,000
4.600,000
7,000,000
1,680.000
923,000
2,300,000
2,468,400
6 g.
3
2^
10
3
6
7
7
5
7
7
J. & D.
J. & J. N.Y.,by N. Y . L.E.&W.Co
J. & J.
J. & J.
J. & J.
M. & S.
J. & D.
J. & J.
4. & 0.
do
do
Jan’ry
J. & J. N. Y., Farm. L. & T. Co.
....
75 cts.
6
M. & N.
5
10
J. & J.
6
J. & J.
8
M. & N.
6 g. A. & O.
5
Q .-J .
June 1, 1912
Jan. 1, 1886
Jan. 1, 1886
Jan. 1,1 90 0
July 15,1875
Sept. 1, 1910
Dee. 1, 1891
Jan. 1, 1892
July 1, 1922
July 1, 1932
July, 1901
Feb. 1,1886;
Nov. 1, 1902
1898
N. Y. Central Pac. RR.
1875
do
do
1907
Boston, C. Merriam, Tr. May 1, 1902
Bost., Am. L. & Tr. Co. Oot. 1, 1910
Boston.
April 1 ,1914
Bost.,Columbian N. Bk.
6 g. M. & N. N. Y., Central Trust Co.
5
J. & J.
do
do
July 3, 1925
3
April, 1884
~2^
*“ "*
N.Y. .Office 34 NassauS t. Deo. 18,1885
ersliip of a majority, the total miles of road thus controlled beiug 1,840. stock, $264,804. In 1884, gross earnings were $85,037; net $19,058.
In April, 1882, the stock was increased from $5,000,000 to $15,000,000. I In 1883, gross, $109,729; net, $22,438; interest payments, &c., $35,680.
The Richmond & Danville Company owns $7,510,000 of this stock. In July, 1879, management was transferred to the Detroit Lans. & No.
The report for 1885 showed that the R. & W. P. T. R. & W. Com
St. Join ts bury & L ake C h a m p la in .—Owns from Lunenburg
pany owned these stocks, viz.: $2,607,150 Richmond & Danville
Extension Co., $120,000 Northeastern Railroad of Georgia, $3,168,300 Vt., to Maquam Bay, on Lake Champlain, 120 miles. This was the
Portland & Ogdensburg, Vermont Division, and was reorganized
Western North Carolina RR. common and $3,168,300 pref.; $100,000
Knoxville & Augusta RR., $1,302,400 Charlotte Columbia & Augusta under this title in 1880. Preferred stock, $1,298,500; common stock,
RR., $3,577,333 Virginia Midland Railway, $1,001,000 Columbia & $2,550.000. In March, 1884. voted to issue the consolidated bonds, of
Greenville RR., $49,000 Dan. Mock. & So. W. RR.. $300,000 Richmond which $600,000 are reserved to take up its first mortgage bonds.
< Mecklenburg Railroad, $103,900 Rabun Gap Short Line, $85,900, Operated by Boston & Lowell as its Vermont Division, and all but $11,fc
See V. 41, p. 474.
Terminal stock, $3,138,980 Georgia Pacific Railroad; and the fol 000 of the 5 per cent bonds held by that company.
lowing bonds: $100,000 Knoxville & Augusta 1st mortgage 6 per cents, In 1882-83 gross earnings, $263,966. In 1883-84 gross, $290,470;
$368,000 Spartanburg & Asheville 1st mortgage 6 per cents, $1,325,000 net, $61,827. (V. 41, p. 474.)
Western North Carolina 1st mortgage and $4,110,000 2d mortgage,
St. Joseph & G rand I s la n d .-Line of road, St. Joseph, Mo.,toGrand
$1,603,553 Virginia Midland 6 per cent Acc. Incomes, $315,000 Island, Neb., 252 miles. This company was organized in June, ’¿5, as suc
Northeastern o f Georgia general mortg., $1,828,156; Georgia Pacific cessor of the St. Joseph & Western, sold in foreclosure, and includes also
2d incomes, and $306,700 Blue Ridge RR. and miscellaneous county and the Hastings & Grand Island RR. and the bridge at St. Joseph. For the
township bohds, and $29,000 subscriptions. In Jan., 1883, the status of St. Joseph & Western see the S u p p l e m e n t of June, 1885, and
trust notes were issued at 90, secured by a deposit of stocks and bonds prior issues. The plan of reorganization after sale of that road, as
as collateral, and were taken up and renewed Jan. 1885. (V. 40, p. 29.) agreed upon with the Union Pacific, was in the C h r o n i c l e , V . 40, p .
R io G rande & P eco s.—Projected from Laredo, Texas, to Brazos 338, according to which this company was formed and the first board
Santiago, 251 miles. Completed from Lareao on Rio Grande River, to of directors elected as reported in V. 40, p. 764. The road is operated
Santa Tomas, 27 miles, to the company’s coal lands of 20,000 acres. by the Umon Pacific, which company guarantees the interest on the 1st
Mortgage issued at $16,000 per mile. Narrow gauge. Interest not mortg. bonds. James H. Benedict, President, New York. For eight
months from May 1, 1835, gross earnings were $755,494, against
paid. A. C. Hunt, President,Laredo, Texas.
p.586.
1884; net,
R o ch e ste r & Genesee V a lle y .—Owns from Avon to Rochester, $790,144 inp. 157, 431.) $282,771, against $130,780. ( V . 41, * ■
*
N. Y., 18 miles. This road was leased July 1,1871, in perpetuity, to 613; V. 42,
St. Josepli & St. L o u is.—St. Joseph, Mo., to No. Lexington, Mo.,
Erie Railway, and now operated by New York Lake Erie & Western.
76 miles. Present company is successor to the St. Louis & St. Joseph
Rental, $34,012. James Brackett, President, Rochester, N. Y.
Railroad, sold in foreclosure February 8,1874. The St. Louis Kansas
R o c k Is la n d & P e o ria .—Owns from Rock Island, HI., to Peoria
Hi., 91 miles. This was the Peoria & Rock Island, sold in foreclosure City & Northern took a lease of the road for 99 years July 1,1874.
of
per cent of gross
April 4,1877, the bondholders becoming the purchasers. Gross earnings The termsbut the lease are an annual payment of 30 V. 42, p. 397.
$25,000 was guaranteed. V. 41, p. 745;
1884, $344,203; net earnings, $84.675, out or wliicn 5 per cent dividend earnings,
was paid on the stock. Gross earnings in 1883, $354,897; net, $107,043,
St. L o u is A lto n & Terre H a u te .—Owns from Terre Haute,
out of which 4 per cent dividends paid.
Ind., to East St. Louis, 193 miles; proprietary line, East St. Louis to
R o m e W a te r to w n & O gdensburg. — Owns from Rome to Bellevile, 14; leased lines—Belleville & Southern 111. RR., 56; Belleville
Ogdensburg, 141 miles; branches: To Cape Vmcent, 2 4 miles; to Pots & Eldorado road, from Du Quoin to Eldorado. 50; Bellev. & Car. RR.,
dam, 24 miles; Oswego to Lewiston, 146 miles; Sandy Creek to Syracuse, from Belleville to E. Carondelet, 17; total, 331 miles. This company was a
45 miles; leased Oswego & Rome RR.,29 m iles: Niagara Falls J^r RR., 8 reorganization, Feb. 18,1861, of the Terre Haute Alton & St. Louis RR.
miles; total owned, leased and operated, 417 miles. In April,•
‘1886, the The Bellev. & So. Illinois is leased to this company for 999 years from Oct.
Utica & Black River road ana branohes were leased, the R. W. & O. 1,1866, and the Bellev & Carondeiet for 983 years from Jan., 1883, at
a rental of $30,000 per year, which is a guarantee of int. on the bonds;
guaranteeing fixed charges and 7 per cent per annum on the stock.
The R. W. & O. was a consolida tion Oct., 1861, of the Watertown & the stock of $500,000 is owned by the St. Louis A. & T. H. The main
Rome and the Potsdam & Watertown railroads. The Lake Ontario Shore line (St.L. Alton & T. H.) was leased Nov. 1, 1882, to the new Indianap.
Railroad was acquired January 15,1375; the Syracuse Northern, Aug. & St. L. Railway and the Cleve. Col. Cin. & Indianapolis jointly. Under
1,1875. The Oswego & Rome was leased January 1,1866, at 8 per cent this new lease the rent guaranteed is $450,000, and that amount is all
on stock and interest on bonds. The Niagara Falls Branch road was that is to be paid unless the gross earnings exceed $1,750,000 in any
year ending Oct. 31, and then 20 per cent is to be paid of the excess of
leased Nov. 1,1881, at 7 per cent on its stock of $250,000.
The company was in default on coupons of the consol, bonds after gross earnings over $1,750,000.
This company, in July, 1882, obtained a decision in its favor against
April 1,1878, but afterward gave new sheets of coupons, 5 per cent
interest; also funded the 3344 per cent overdue interest (to July, 1882,) the two solvent lessee companies for $221,624 against each. An appeal
to the U. S. Supreme Court is pending. The Belleville Br. and Extension
into 7 per cent income bonds and assessed 10 per cent cash on stock.
The present management of the company succeeded the management are operated separately by this company, and earned net in ’82, $238,which was identified with the Del. Lack. & West, interests. Charles 930; in 1883, $205,935; in ’84, $131,013. See report, V. 40, p. 595. The
Belleville & Eldorado was leased for 985 years from July 1,1880, at a
Parsons, New York, President.
In April, 1886, the income bonds were offered an exchange of 40 per rental of 30 per cent on the gross earns., but $15,400 per year guarant’d.
cent in the 5 per cent consol, mortgage, due 1992, and 60 per cent in The Belleville & Carondelet is leased at $30,000 per annum.
Of the first mortg. bonds $636,000 are held in sinking fund ; of the
stock.
For three months from Oct. 1, 1885, gross earnings were $505,798 equipment bonds $246,000 are owned by the company. The pre
against $471,319 in 1883-4; net, $195,820, against $177,868 in ferred stock has a prior right to a cumulative dividend of 7 per cent
before any is declared on common. It is also convertible into com
1883-4.
For year ending Sept. 30, 1885, interest, taxes and rentals were mon at p a r; but shall not receive any dividend as common stock for the
time it was held as preferred. In January, 1881, the company declared
$632,870; surplus, $15,447; surplus in 1883-4, $27,959. Operations
3 per cent in cash on the preferred stock and afterward settled th ere
and earnings for four years past were
Years.
Miles. Pass’r mile. Fr’ht(ton)mile. Gross rec’ts. Net reo’ts maining 55 per cent of accum. dividends by the issue of income bonds.
The annual report for 1884, in V. 40, p. 595, said: “ In addition to the
18818 2 417
19,223,584 54,470,111 $1,814,495 $401,581
18828 3 417
18,872,541 55,834,358
1,694,231
300,723 minimum rental of $450,000, we have received during the year the sum
18838 4 . . . . . 41820,079,247 61,220,005
1,716,525
563,776 of $12,867 from the receiver of the former lessee, the Indianapolis &
1884- 8 5 .....................................
............
1,743,371 " 648,318 St. Louis RR. Co., balance due in excess of minimum rental for the
-(V . 40, p. 29, 61. 214, 281, 305, 338,'482; 570, 62*6 ; V. 41, p. 77, 216, months of July, August and September, 1882.
The Cairo Short Line Division, including the roads directly operated
243, 586, 745 ; V. 42, p. 61,187, 305, 366, 464, 488.)
by this company, made the following exhibit:
R u tla n d .—Owns from Bellow’s Falls, Vt., to Burlington, Vt., 120
EARNINGS. EXPENSES AND RENT OP LEASED LINES.
miles; leases Addison RR., 15 miles; total, 135 miles. This road has been
through many changes. It was leased to the Cent. Vermont in Dec.,1870,
,
1883.
1884.
1885.
for 20 years, but the lessee became insolvent, and finally a modification Gross earnings................................
$832,468$741,050
$766,316
of the lease was made, giving $250,000 per year as a minimum rental Operating expenses and taxes........
425,635
406,160
397,347
and $8,000 for organization expenses. The 5 per cent 2ds are &first
mortgage on rolling stock and personal property. The annual report
Net earnings............................... $406,833
$334,989
$368,969
for 1884-85 with income account was in V. 41, p. 132. (V. 40, p.94; V Rent leased roads.............................
200,897
203,971
203,381
41, p. 132.)
Net revenue................................ $205,935
$131,018
$165,587
Sacram ento & P la c erv ille.—Owns from Sacramento, Cal., to
Shingle Springs, Cal., 48 miles. This was a consolidation of the Sacra
SOURCES OP NET REVENUE.
mento Valley and the Folsom & Placerville railroads, April 19, 1877. Belleville branch, separate earnings........................................... $46,911
Capitalstock, $1,756,000. Grosseamings, 1883, $121,905; net, $45,738, Belleville branch, on business contributed by leased lines.......
26,652
deficit oyer charges, $19,230. Gross, 1884. $130,441 ; net, $67,378; Leased roads, after deducting expenses and rentals..................
57,455
surplus, $1,378. Leland Stanford, President, San Francisco.
S a gin a w V alley & St, L o u is.—Owns from Saginaw to St. Louis
Total net revenue............................ ............. , ........... .
« $131,018
and Alma to Ithaca, Mich., 35 miles. Opened January, 1873. Capital —(V. 40, p. 5 9 5 , V, 42, p. 126.)
. .
/
Rio Qrande <•Pecos—1st M.. gold ($20,000 p. m .)...
£
Rochester & Genesee Valley—Stock.............................
Rock Island dt Peoria—Stock.......................................
1st mortgage..............................................................
Rome Watertown < Oqdensburg —
&
Stock....................
1st sinking fund mort., Wat. & R. (extended).......
General mortgage, sinking fund.............................
2d mortgage...............................................................
Consol, mort., (extended July, 1882, at 5 per ct.).
Income bonds.............................................................
Syracuse Northern (gold).........................................
Rutland—Btock, common............................................
Stock, preferred.........................................................
General mort. (8 per cent, reduced to 6)................
New 2d mort. in exch. for equipment bonds, &c.
Sacramento < Placerville -1st mortgage (S. V. RR.).
&
1st mortgage (S. & P. RR.).......................................
Saginaw Valley < St. Louis.—1st mortg., coup........
&
rSt. Johnsbury '< L. Champlain—1st M.,coup. orreg.
&
Consolidated mortgage (for $1,000,000)...............
St. Joseph < Grand Island—Stock.............................
&
1st mort., gold, interest guar, by U. P ....................
2d mortgage, income................................................
St. Joseph < St. Louis—Stock......................................
6
St. Louis Alton & Terre Haute—S tock .......................
Pref. st’ck (7 cumulative).......... ..............................
80
RAILROAD STOCKS AKD
BONDS.
[V o l . XLII.
Subscribers w ill confer a great favor by givin g Im m ediate notice o f any error discovered In these fa b le s
INTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or
Amount
Par Outstanding Rate per When Where Payable, and by
of
of
For explanation of column headings, &c., see notes
Whom.
Cent. Payable
Road. Bonds Value.
on first page of tables.
St. Louis Alton <•Terre Haute—( Continued)—
£
1st mortgage (series A) sinking fund')
,£
1st mortgage (series B) sinking fund o qM>0 |
2d mortgage, preferred (series C ).... ¡• S T £ ® £
2d mortgage, preferred (series D) —
o «g 5
2d mortgage, income.......................... I u ,o'Q ^
Dividend bonds, income not cumulative.............
Belleville & Caronde'.et, 1st mort..........................
St. Louis < Cairo—1st M., income (not cumulative)
£
St. Louis Ft. Scott < Wichita—1st M. ($15,000 p. m.)
£
St. Louis <t Hannibal—1st m ortgage.....................-•
St. Louis Keokuk < N .W .-Stock($l,350,000 is pref.)
6
1st mortgage, gold...................................................
Income bonds.........................- ............ - ...................
SI. Louis Salem <•Little Bock—1st mortgage..........
£
St. Jjouis < San Francisco.—Stock, com m on..........
£
Preferred, 7 per cent, not cumulative..................
1st preferred, 7 per cent, not cu m u la tiv e ..........
1st mortgage (SouthPacific), gold, (land grant).
2d mortgage bonds, A, gold...............................
do
do B, gold.................. - ......... . . .
do
do C, gold...................................
Equipment mortgage, gold...................................
Mortgage on Mo. & Western RR., gold.. . . . . . . . .
Collateral trust bonds, g o ld .................. ...............
St. Louis Wichita & W est, 1st mort., gold, guar...
Gen. M., gold, coup, or reg.(a 2d M. on 2 93miles)
Equipment Trust............................. ........................
Kansas C. & Southw., 1 stM., gold ($12,000 p.m.),
St. Louis Vandalia < Terre H aute—1st M. s. f. guar
£
2d mort., sink, fund ($1,600,000 guar.)................
207
207
207
207
17
144
251
85
184
135
135
814
293
293
293
233
84
100
145
179
63
158
158
1862
1862
1862
1862
1862
1881
1883
1881
1880
1886
1876
1876
1872
1868
1876
1876
1876
1880
1879
1880
1879
1881
1884
1886
1867
1868
$1,000 $1,100,000
500 &c.
1,100,000
1,000
1,400,000
1,000
1,400,000
1,700,000
500 &o.
1,357,000
1,000
485,000
1,000
3,777,000
2,483,000
1,000
600,000
1,000
2,700,000
1,000
1,620,000
1,080,000
1,000
1,000,000
11,954,000
10,000,000
4,500,000
7,144.500
500 &c.
500,000
100 &c.
2,766,500
500 &c.
2,400,000
500 &c.
721.000
1,000
1,095,000
1,000
1,350,000
1,000
2,000,000
7,739,000
1,000
456,000
744,000
1,000
1,899,000
1,000
2,600,000
1,000
7
7.
7
7
7
6
6
5 g.
7
1894
J. « s J. N.Y. Office,3 4 Nassau St
S
do
do
1894
A. & O.
do
do
1894
F. « s A.
S
do
do
1894
M. & N.
do
do
1894
M. & N.
do
do
Jan. 1, 1894
June 1
do
do
June 1, 1923
J. & D.
1921
A. « s O. New York or London.
S
A. « s O. New York, Moran Bros. Oct, 1, 1910
S
....
....
7 g. J. & J.
J. & J.
7
A. « s 0. N.Y., Union Trust Co.
S
7
....
313
6 g.
6 g.
6 g.
6 g.
7 g.
6 g.
6
6
6 g.
6 g.
6 g.
7
7
Stocks—Last
Dividend.
....
....
Jan. 1, 1906
Jan. 1, 1906
A p r ili, 1902
F. & A. N. Y., Company’s Office. Feb. 10, 1886
July, 1888
do
do
J. & J.
Nov. 1. 1906
do
do
M. « s N.
S
Nov. 1, 1906
do
do
M. & N.
Nov. 1. 1906
do
do
M. « s N.
S
June 1, 1895
do
do
J. « s D.
S
Aug. 1, 1919
do
do
F. « s A.
S
1920
do
do
F. « s A.
S
1919
do
do
M. « s S.
S
July 1 1931
do
do
J. « s J.
S
A.&O.5p.0.ea.
do
do
A. « s O.
S
Jan. 1, 1916
do
do
J. & J.
J. « s J. N. Y., Central Trust Co. Jan. 1. 1897
S
May 1, 1898
do
do
M. « s N.
S
St. L o u is & C airo.—This road (3ft. gauge) extends from Cairo to East
t Louis, 152 miles with a branch to High Prairie, 9 miles. The former issued by the company, and is entitled to share pro rata equally witn
Cairo & St. Louis made default April 1,1874, and was sold in foreclosure any other class of stock in any excess of annual dividends that may be
Julv. 1881. Stock is $6,500,000. In Jan., 1886, a lease was negotiated made by the company upon any class of stock greater than 7 per cent;
for 45 years to the Mobile & Ohio RR. on the basis of a rental of 25 per and by resolution of the company has priority of lien on net revenues
cent (.50,40) of the gross revenue of the whole line, Moi'fie to St. for such dividend over any mortgage bond that may be issued by the
Louis, this rental being guaranteed by the lessee to amount to $16o,000 company subsequent to the creation o f this stock.”
Dividends have been paid on first preferred stock in 1881 and since
uer vear. The present issue of $2,600,000 bonds is to be replaced by
an issue of $4.000,000, as stated in V. 42 p. 22, and the road changed at 7 per cent per annum.
The range of the stocks yearly since 1877 has been: First preferred in
to standard gauge. Gross earnings in 1883-84, $37o,784, net, $78,837,
1878 ( 4 months), 5^3® 11%; in 1879, 9 ^ @ 7 8 1 ; in 1880, 60®100; in
2
interest, $78,000; [surplus, $837. (V. 42, p. 22, 93, 126, 431.)
1881, 90@115i2; in 1882, 79%®106ia; in 1883, 87® 100^; in 1884,
St. L o u is F o rt Scott & W ic h ita .—From Fort Scott to Anthony, 70@961 ; in 1885, 79 9 9 9 ^ ; in 1886 to April 16, 97i«®105.
2
Kan., 2 l4 uailos; branches, 5 miles; Eldorado to Newton, Kan., 3 - m.;
Preferred stock in 1878, l 1
a®5:1 in 1879, 4i8®601 in 1880. 33®
4;
2:
total. 251 miles. Moran Brothers of New Yonk, and other capitalists, 65; in 1881, 55@81J in 1882, 43®661 in 1883, 40®591 in 1884,
4;
a;
fl;
largely interested. Stock, $6,614,890. Gross Itarnlngs in 1883, $286,- 24*a®50; in 1885, 30@4978: in 1886 to April 16, 42®48%.
712; net, $65,099. Gross in 1884, $508,654; net, $185,008; surplus
Common in 1878 (3 months), l ^ ® ! 1 in 1879, 3*8® 53; in 1880, 2514
#;
for interest, $114,745.
@ 48; in 1881, 39®55; in 1882, 31®4678; in 1883. 20J3®36%; in 1884,
St. L o u is & H a n n ib a l.—Owns from Hannibal, Mo., to Gilmore, on 111
2®291 ; in 1 885,17J2®24ig; in 1886 to April 1 6 ,18®23%.
2
Wabash St. Louis & Pacific, 82 miles. This company is successor to the
The trust bonds of 1880 are secured by deposit of 7 per cent
former St. Louis Han & Keokuk, sold in foreclosure Dec. 8,1885. The mortgage bonds of the St. Louis Arkansas & Texas RR. and Joplin RR.
principal owners were Mr. John I. Blair and the estate of Moses Taylor The general mortgage of 1881 (supplemented by that of June, 1882,
in New York, who became the purchasers. The stock is $ ----------. John changing the rate of interest to 6 per cent) for $30,000,000 is made to
the united States Trust Company as trustee, and $17,261,000 reserved
L Blair, President. (Y. 41, p. 393, 474, 689, 745; V. 42, p. 366.)
St. L o u is K e o k u k & N orth w estern .—Owns from Keokuk« to take up all prior debt. This general mortgage is a first lien on 179 miles
la to St Peters, 135 miles; leased Keokuk to Mt. Pleasant, 49 milesi of new road, besides covering the mileage on which are the prior liens
total onerated, 184 miles. The Miss. Val. & Western RR. was sold Apri
L a n d s .— The South Pacific Railroad had a grant of lands by act of
14 1875, and this company organized July 1,1875. Road completed in Congress June 10, 1852, of 1,161,205 acres. The Atlantic & Pacific
autumn of 1879. Income bonds above were originally a part of received about 507,000 acres of land.
The South Pacific lands
852 700,000 first mortgage bonds, but by agreement they were changed showed 155,774 acres on hand January 1,1885. Atlantic & Pacific lands
into their present form. Gross earnings year 1884 $411,494; operating showed 1,411 acres on hand at same date. The land department
expenses, $412,988; deficit, $1,494. W. W. Baldwin, President, Burling assets were estimated Dec. 31,1884, at $962,244, including $383,735 in
land contracts and $183,866 cash.
ton, la.
O p e r a t i o n s , F i n a n c e s , &c.—The St. Louis & San Francisco has been
St. L o u is Salem & L ittle R o c k . - Owns from Cuba, Mo.,
to Salem Mo., 42 miles, and branches, 13 miles; also 17 miles of branches one of the successful reorganized railroads of the Southwest, and has
controlled; total operated, 72 miles. Reaches St. Louis by St. L. & San made good progress in traffic and income, without very heavily increas
F RR Stock is $1,000,000. Earnings in 1884 on 54 miles were $53, ing its annual interest charges. The relations with the Atlantic & Paoiflc
Co., as a part owner of its stock jointly with the Atchison Topeka <s
S
882; net, $17,522. A. L. Crawford, President, Newcastle, Pa.
St. L o u is & San F ran cisco .—( See map.)—J
ake op Road— his is S. F. Co., are somewhat complicated, (see the annual report in V.40,
1
T
a considerable system of railroads, forming part of a through route to the p. 594.)
The St. Louis & San Francisco annual report for 1884 (C h r o n i c l e , V
Pacific coast. The main line is from St. Louis, Mo., to Seneca, 326 miles;
branches—Granby branch, 1*2 miles; Oronogo, Mo., to Joplin, 10 miles; 40, p. 594) had the follow ing:
1885.
1884.
1882.
1883.
Oirard to Galena, Kan., 47 miles; Carbon Branch, 3 miles; Peirce City
815
814
725
776
to Wichita, Kan., 218 miles; Plymouth, Mo., to Fort Smith Ark., 134*2 Miles operated..........
$
Earnings—
$
miles- Springfield to Chadwick, Mo., 35 miles; Springfield to Bolivar,
941,161
741,388
842,266
Mo 39 miles; total operated, 815 miles. The tracks of the Atchison Passenger.................. ..
3,406,414
2,648,383
2,793,503
Topeka <s Santa Fe are used from Wichita to Halstead, Kansas, 25 Freight......................
S
296,021
182,469
260,796
This company also operates the finished portion of the Atlantic & Mail, express, &c---Pacific road, Central Division, from Seneca, Mo., to Red Fork in the
4,643,596 4.383,406
3,896,565
3,572,240
Indian Territory, 102 miles.
2,135,378 1,949,745
1,823,128
1,625,781
O rg an ization , «fee.—This company was organized Sept. 20, 1876, as Operating expenses..
successor to the Atlantic & Pacific in Mo. The latter embraced the South
2,508,218 2.433.661
2.073.437
1.946.459
Pacific RR (originally the Southwest Branch of the Pacific RR. of Mo.,
INCOME ACCOUNT.
chartered Dec. 25,1852), which was consolidated with the Atlantic &
1835.
1884.
1883.
1882. •
Pacifio road Oct. 25, 1870. The Atlantic & Pacific road and lands were
$
$
$
Receipts—
$
sold in foreclosure Sept. 8, 1876, and the St. Louis & San Francisco Net earnings.............
2,508,214 2.433.661
2.073.437
1.946.459
fbeoame possessor of the property.
,_ . . .
_
... ..
14,838
24,376
56,857
Other receipts..........
On January 31, 1880, an agreement was entered into with the
Atchison Topeka & Santa Fe for construction of a through line to the
2,523,056
2,097,813
2,003,316
Total net income.
Pacific coast on the parallel from Albuquerque to San Francisco. The
$
$
$
D isbursements—
$
road was to cost $25,000,000, and to be built under the old charter, Interest and sink. fd.
1,826,203
1,343,436
1,099,343
o f the Atlantic & Pacific Railway. The negotiations culminated in Aug., Int. accrued, not due.
242
11,001
49,026
1884 with the contracts entered into with the Southern Pacific of Cal, Divs. on lstp f. stock.
315,000
315,000
315,000
and the Atchison Top. & Santa Fe, for a through route to the Pacific.
Of the At Top. <sS. Fe contract it is stated: “ This agreement likewise
S
Total disbursem’ts. 1,499,754 1,669,440 2,141,445
............
provides that tne net earnings of the San Franoisco and Atchison roads Balance, surplus___
503,562
428,373
381,609
............
from all east-bound freight and passenger traffic coming over the Atlan
tic & Pacific road from Albuquerque and points west, destined to points - ( V . 40, p. 214, 270, 305, 338, 581, 588, 5 9 4 ; V. 41, p. 474, 613; V.
on the east of the Missouri River, shall be equally divided between the 42, p. 339 )
tw o companies, * * * thus assuring to the San Francisco Company ou
St L o u is V a n d a lia & Terre H a u te .—Owns from East St.
east-bound traffic a measure of the advantages to which it claimed to be Louis to Indiana State line, 158 miles. Road opened July 1, 1870.
It is leased to the Terre Haute <s Indianapolis Railroad at a rental
S
entitled according to the tripartite agreement.
See annual report in
C h r o n i c l e Y. 40, p. 594; also title Atlan. & Pacifio in this S u p p l e m e n t . of 30 per cent of gross earnings. For the year ending October 31, 1885,
At the annual meeting of the stockholders of the St. L. & S. F. Co. in the net income was $411,794, and the year’s charges against this sum
March 1885, the following directors were elected for the ensuing year : were $365,387; leaving a surplus for the fiscal year of $46,407. In
n p Huntington, Leland Stanford, Jay Gould, Russell Sage, Jesse Selig- ooerating this road theloss to lessee has beenm 1881-82, $70,272 |in
«nan E F Winslow, Bryce Gray, W. F. Buckley, Horace Porter and A. 8. 1882-83, $115,399; in 1883-81, $71,549; in 1884-5 profit $39,169. The
Hatch, of New York; W. L. Frost, of Boston, and C. W. Rogers and R. annual report for 1884-85 was published in the C h r o n i c l e , V. 42, p.
154 The first mortgage and $1,000,000 of second mortgage bonds are
8 Haves, of St. Louis.
_
in January 1886, leised for 98 years the Kansas City & Southwest guar, by the lessees and also by the Pitts. Cin. & St. L. RR. The stock is
ern RR from Beaumont, Kansas, to Cale, in Butler County, 63 miles, at $2 383,016 com. and $1,544,700 pref. The pret. was issued for income
a rental guaranteed to pay the interest on the 1st mortgage bonds. The bonds ($1,000,000) and for deficiencies made up by the lessees. Thos. D.
Messier, Pres., Pittsburg, Pa. Operations and eam’s for four years were:
bonds are redeemable on notice at 110.
t> do
o
I."....! (cii i (ton)
Gross
NAti
Net
Freight /tnni
Pass.
S t o c k s a n d B o n d s .—T h e fir s t p r e f e r r e d s t o c k h a s p r i o r r ig h t t o 7 p e r
Eam’gs.
Earnings.
Mile.
Mile.
Miles.
« e n t ( n o n - c u m u H t i v e ) ; t h e n p r e t . e n t i t l e d t o 7 p e r c e n t ; t h e n c o m m o n Years.
$408,566
115,982,845 $1,596,126
18,311,812
e n t i t l e d t o 7 ; t h e n a ll c la s s e s s h a r e in a n y s u r p lu s .
T h e t e r m s o f 1881-82 .. 158
442,218
1,700,954
111,810,481
18,585,282
1882- 83 .. 158
t h e p r e f e r e n c e o f t h e fir s t p r e f e r r e d s t o c k a r e s t a t e d i n t h e c e r t i f ic a t e s
375,543
1,490,307
104.209.720
18,74 1,460
.158
188384
as f o l l o w s : “ T h is s t o c k is e n t i t l e d t o a d i v i d e n d o f 7 p e r c e n t p e r
450,963
1,372,648
107,920,692
19,165,187
1884- 85 158
a n n u m d e r iv e d b y t h e c o m p a n y fr o m n e t r e v e n u e s fr o m a ll s o u r c e s
- ( Y . 40, p. 150, 356; Y. 42, p. 94, 1 54.)
e a c h c u r r e n t y e a r ( r e m a in in g a f t e r t h e p a y m e n t o f in t e r e s t u p o n a ll
RAILROAD STOCKS AND BONDS.
J
A p r i l , 1680
8 2
RAILROAD STOCKS AND
BONDS.
[V o l . XLII.
Subscribers w ill confer a great favor by giv in g Im m ediate notice o f any error discovered In these T ables.
DESCRIPTION.
Bonds—Princi
INTEREST OR DIVIDENDS
Miles Date Size, or
pal, When Due.
Amount
of
Par
For explanation of column headings, &c., see notes of
When
Outstanding Rate per Payable Where Payable, and by Stocks—Last
Road. Bonds Value.
on first page of tables.
Cent.
Whom.
Dividend.
....
1881
1884
____
1862
1879
1879
1880
1883
1882
1869
____
1867
1869
1869
1884
1871
1874
1876
1879
1880
1882
1884
3ia
~5
6
1^
7
7 g.
6 g.
6 g.
6 g.
6 g.
1*2
6 g.
7
3
7
J. «fe J. N. Y., Fourth Nat. Bk. Jan. 1, 1886
F. &"A. N.Y., Central Trust Co. Aug. 1, 1931
J. «fe J.
do
do
Jan. 1, 1894
Q.—F.
N.Y., 63 William St.
May 1, 1886
J. «fe J.
do
do
1892
J. «fe J. New York and London,
1909
A. < O.
fe
do
do
Oct. 1, 1909
M. «fe N. N. Y., 63 William St.
Nov. 1, 1910
J. «fe J.
do
do
July l, 1933
J. «fe J.
do
do
July 1, 1922
N.Y., Winslow, L. & Co.
J a n , 1886
F. «fe A.
do
do
Feb. 1, 1923
M. «fe N.
do
do
May 1, 1907
------ N. Bk.,Sand’ky,0. Feb. 1, 1885
J. «fe J. N. Y.. Union Trust Co, July, 1902
~T
7
7
6
7
6
2ia
7
7
7
7
5
5
6
J. «fe J.
M. «fe N.
M. «fe N.
A. < O.
fe
J. < J.
fe
M. «fe S.
J. «fe J.
J. «fe J.
A. < 0.
fe
J. «fe J.
M. «fe N.
M. «fe N.
M. «fc N.
F. < A.
fe
7
1883
1877
.... $5.376,970
4,055,407
1,000
1,000,000
1,000
210,000
100 20,000,000
1,000
366,000
100 «fee.
5,250,000
1,000
8,000,000
1,000
5,676,000
1,000 13,044,000
1,000
2,150,000
100
5,000,000
1,000
5,500,000
1,000
438,000
50
1,068,832
1,000
2,300,000
....
3,750,000
500 «fee.
1,730,500
1,000
464,000
1,000
200,000
1,000
1,925,000
1,000
500,000
100 «fee.
500,000
50
576,050
500 «fee.
1,294,000
1,000
283,000
1,000
553,000
84,onn
100
1,302,800
1,000
1,000,000
1,000
500,000
$ ....
ó
St. Paul < Duluth—Preferred 7 p. c. stock < scrip. 225
6
&
Common stock............................... §.......................... 225
169
1st mort. bonds, coup, or reg...................................
21
Taylm’s Falls < Lake Sup.. 1st mort., cp.,guar —
fc
St. Paul M inneapolis < Manitooa—Stock.................. 1,350
&
76
2d M., and 1 ston road from St. Paul to Watab —
1st mort. land grant sinking fund, gold................ 656
656
2d mort., gold.. . . . ...................................................
473
Dak. Ext., 1st mort., gold ($12,000 per mile)........
Consoi mort., gold (for $50,000,000), coup, or reg. 1,394
Minneap. Un. RR., 1st M., gold.guar. ($3,000,000) ____
St. Paul<& No.Pac —Stock ($10,000,000authorized) 126
General mort., gold, Id. gr., coup, or r e g ... ....... 152
Western RR., Mmn., 1st mortgage, R R ................
60*2
Sandusky Mansfield & Newark.—Re-organized stock 116
1st mortgage, new.......... ..........................- .............. 116
93
San Francisco £ North Pacific—Stock.......................
Savannah Florida £ W est—At. & G. consol, mort.. 286
58
South Georgia & Florida, 1st mortgage.................
58
do
do
2d mortgage..................
Sav. Fla. & W., 1st m ortgage.................................. 525
60
Savannah Grijfin £N .Ala.—\si mortgage.................
14^2
Schenectady £ Duanesburg—1st M., guar. D. & H_.
19
Schuylkill Valley—Stock..............................................
98
Scioto Valley—1st mort. (s. fund $13,000 per yea r).
98
2d mortgage (sinking fund, $5,000 per year).......
124
'Consol, mortgage.......................................................
Equipment bonds......................................................
80
Seaboard £ Roanoke—Stock ($244,800 is pref.).......
31
Shanwkin Sunbury £ Lewisburg—1st mort., coup.
2d mortgage............................................................... . . . .
N.Y..H.B. Plant, &Savan
do
do
do
do
do
do
Savannah, Cent. RR.Bk
Del. < Hud. Canal Co.
fe
Philadelphia, Office.
Last paid July, 1884.
Last paid July, 1884.
Last paid July, 1884.
N. Y., Winslow, L. & Co.
Balt. .Farm .& Plant. Bk.
Phila., Phil. < Read.RR.
fe
do
do
July, 1897
May 1, 1899
May 1. 1899
April 1, 1934
July 1, 1891
Sept. 1, 1924
Jan. 12,1886
Jan. 1, 1896
April 1, 1894
July 1. 1910
Nov. 1, 1885
May 1, 1912
Feb. 1, 1924
St. P a u l & D u lu th .—Line of R oad .—St Paul, Minn., to Duluth, |The terminal improvements at Minneapolis are on 20 acres in the
Minn., 155 miles; branch to Knife Falls, 6 miles; leased: Stillwater & ; business centre of the city, and for similar purposes in and about
8t. Paul RR., 13 miles; Minneapolis & Duluth RR., 13 miles; Taylor’s ! Minneapolis and St. Paul, a total of 490 acres is owned. The
Falls & Lake Superior, 21 miles; Grantsburg Branch, 17 miles; total, land grant of the company is located along the line of the road
225 miles. Between Northern Pacific Junction and Duluth, 24 miles, between Brainerd and Sauk Rapids, and about 220,000 acres remain
the road is owned jointly with the Northern Pacific.
unsold. The road, with its terminal property, is leased for 999 years
This was the Lake Superior & Mississippi RR., opened August 1, to the Northern Pao. at a net rental equal to 40 p. c. of the gross receipts,
1870, and leased to the Northern Pacific. Default was made Jan. 1,1875, but the bonds are guaranteed principal aud interest. The stock is
and road sold in foreclosure May 1,1877, and this company organized placed in trust with Farmers’ L. & T. Co., the power to vote beihg held
June 27. The preferred stock is received in payment for lands at par. by N"ithem Pacific Company; but “ beneficial certificates ” entitling
Three shares of common stock have one vote and each share of pre
¿ o dividends are issued. The general mortgage is for
ferred has one vote. Preferred stock has a prior right to 7 per cent; $10,000,000, and is a first lien on the whole property, excepting that
then common to receive 6 p . c. from net earnings only, remainder of it is second to the Western Minn, mortgage on 60*2 miles and on part of
earn’gs and other income (lands,&c.) to be applied to purchase of pref.stk. the lands; the registered interest is payable quarterly—February, May.
The net income from 1877 liaving been spent on improvements, 10 Aug. and Nov.; only $5,500,000 have yet been issued, and a sufficient
per cent in pref. stock was paid to the pref. stockholders Nov., 1881, amount of the issue is reserved to retire the Western Minnesota bonds
m lieu of cash due them to July, 1881; in August, 1884, an additional 7 m above table. Since 1877 regular cash dividends have been paid,
per cent in pref. stock was so paid. All other dividends due preferred averaging over 6 per cent per annum.
stockholders from July, 1881, to Jan. 1,1886, have been paid in cash.
Sandusky M ansfield Sc N ew a rk .—Owns from Sandusky, O., to
The company has a land grant, of which 1,163,189 acres remained un
sold Jan. 1,1886, and 69,860 acres of the Taylor’s Falls Branch. In ’85 Newark, O., 116 miles. A consolidation of several roads in 1856.
land and stumpage sales amounted to $189,152, and deferred payments Leased Feb. 13,1869, to Central Ohio Railroad, guaranteed by Baltimore
(land accounts) Dec. 31, 1885, were $368,669. Gross earnings and v ? “ °; andnew lease made February 23,1880, extending to December
net income on railroad only, after deducting a l fixed charges, were as 1 ,1 J2o, with option to the Balt. & Ohio Company to renew for terms
below, but in 1885 $167,186 for * improvements” was charged in oper - 20 y ear8 each. Rental was $194,350 yearly till 1884; $199,350
•
ating expenses, while in prior years improvements had been charged to in 1884 and 1885; now $201,850 annually. It is operated as Lake
Ene division of the Baltimore & Ohio system. In 1882-83, gross
“ cost of road and equipment.”
earnings, $999,128; net, $291,781: in 1883-84, gross $1,062,775; net,
Gross
Net
Gross
Net
earnings,
income. $278,331; in 1884-85, gross, $817,785; net, $1197919.
earnings.
income.
... $732,630
$50,249 1884 ............$1,317,314 $398,091
1881
San F ran cisco Sc N orth P acific.—Owns from Donahue, C a l,
1882
... 1,109,840 261,246 1885 ............ 1,381,212
328,610 to Cloverdale, Cal., 56 miles; branches—from Fulton, Cal., to Gueme1883
.. 1,328,527
271,186
ville, Cal., 16 miles; and San Rafael to Petaluma, 21 miles; total
The report for the year 1885 was in V. 42, p. 241, showing total net 93 miles. This is a consolidation of several companies. Earnings were?
receipts including land sales $747,210; net surplus of year applicable
to dividends, $530,024. (V. 40,p. 2 6 7 , 764; V, 41, p. 2 7 2 , 357; V. 42, net18222 98788’ ^538’821 ’ net’ $263,296. In 1882, gross, $505,771;
p. 2 4 1 , 272.)
Savannah F lo rid a & W e ste r n .—Owns from Savannah, Ga., to
St. P a u l M in n ea p o lis Sc M an itoba—(See Map).—Owns from St. Chattahoochee, Fla., 258 miles; branches—Bainbridge Junction to BainPaul to Emerson, 392 miles; Minneapolis to Gretna via Breckinridge, bridge, 9 miles; extension to Savannah wharves, 1-70 miles; Junction
413 miles; Minneapolis to Hinokley via St. Cloud, 132 miles; Sauk Branch, 4 miles; Dupont to Gainesville, 118 miles; Thomasville to
Centre to Eagle Bend, 36 miles; Fergus Falls to Pelican Rapids, 23 miles; Albany, 58 miles; Waycross to Jacksonville, 75 miles; total, 525
Crookston to Devil’s Lake, 114 miles; Shirley to St. Hilaire, 21 miles; miles. This was a consolidation in 1865 of the Savannah Albany «fe
Wayzata to Spring Park, 6 miles; Morris to Brown’s Valley, 4 7 miles; Gulf Railroad and the Atlantic «fe Gulf under the latter name. The
Breckenridge to Park River, 168 miles; Everest to Portland, 47 miles; Atlantic < Gulf road was sold in foreclosure of the second mortgage
fe
Ripon to Hope, 30 miles; Moorhead to Halstad, 34 miles; total operated, on November 4, 1879, subject to th consolidated mortgage and
1,475 miles.
other prior liens amounting to about $2,465,000. The present com
This company was organized May 23, 1879, under the charter pany has a capital stock of $5,340,300, which is held in very few
of the St. Paul < Pacific Railroad, and embraced the St. Paul & Pacific hands and dividends are paid as earned. The earnings in 1885 were
fe
Railroad, the First Division of the St. Paul & Pacific Railroad, the Red $2,461,613 gross and $468,799 net; fixed charges,$300,279; surplus,
River Valley Railroad, and the Red River & Manitoba Railroad. The $168,520, In 1884 gross earnings, $2,239,809; net, $380,707. Fixed
company had a land grant of 3,848^000 acres. The proceeds of land charges, $355,749; surplus, $28,195. H. B. Plant, Pres., New York.
sales are reserved by the first mortgage trustees as a sinking fund for —(V. 40, p. 683.)
the redemption of the bonds at or under 105 and interest, and bonds
Savannah Griffin Sc N orth A la b a m a .- Owns from Griffin,
are called in yearly so far as the funds are in hand. The second mort
gage bonds do not cover the land. The land, sales for year ending Ga., to Carrollton, Ga., 60 miles. Operated in connection with Central
June 30, 1885, were 65,555 acres, for $317,573. The net amount due Railroad of Georgia. Capital stock, $1,011,245. In 1883-84 gross earn
on land contracts June 30,1885, was $696,663; lands unsold, 2,348,- ings $61,989; net, $16,179. In 1884-5, gross, $58,841; net, $6,244.
Schenectady Sc D u an esb u rg.—From Quaker Street Junction,
535 acres.
fe
The Dakota Extension bonds are issued at $12,000 per mile. The N. Y., to Schenectady, N. Y., 14 miles. Formerly Schenectady < Susconsolidated mortgage bonds of 1883 were issued to stockholders of cpiehanna Railroad, and was foreclosed in 1873; reorganized and leased
&
May 1,1883, to the extent of one half their holdings, on the payment in perpetuity to the Delaware < Hudson Canal Company. Lease rental,
of 10 per cent of the bonds in cash. The authorized amount of consoli $30,000 per year, paying 6 per cent on bonds. Stock, $100,500.
dated mortgage is $50,000,000, of which $19,426,000 were reserved to
S ch u y lk ill V a lle y .—Owns from Palo Alto to Reevesdale, Pa.,
pay prior liens, and the balance may be issued for new road at $15,000 11 miles; branch.es, 8; total, 19 miles. It is an old road, and was leased
per mile single track or $27,000 per mile double track. The Minneapolis to the Phila. < Reading RR. from Sept. 1, 1861, at an annual rental
fc
Union RR. is a connecting road for other roads from the stock yards at of 5 per cent on the stock. Operations are included in the Philadelphia
St. Paul to Minneapolis, and its stock is $1,000,000,
< Reading reports. Has no bonded debt .
fe
The annual report for year ending June 30, 1885, was in V. 41, p. 241
Scioto V a lley.—Owns from Caldwell Junction, on B. & O. RR., to
and 306.
Portsmouth Junction on the C. W. «fe B., 96 miles, and from Sciotovilla
IN M ACCO N
CO E
U T.
Junction on C. W. <feB. to Petersburg, on the Ohio River (opposite Ash
1881-82.
1882-83.
1883-84.
1884-85. land, Ky.), 25 miles; total, 121 miles. In 1884 gross earnings, $556,$
983; net. $13#,379; rental, $53,476; interest on bonds, $155,400.
Total ¿ross earnings. . . . . . 6,629,694 9,148,524 8,256,868 7,776,164 other interest, $60,470; deficit for year, $195,910. Stock is $2,093,350.
Net earnings...................... 3,113,916 4,553,468 4,327,478 4,266,237 A proposed plan of funding interest and placing all mortgage bondholders
Revenue from LandDep’t
860,677 813,945
418,270
131,292 and holders of floating debt on about the same footing was brought for
Other reoeipts....................
34,259
92,106
214,434
66,284 ward in the interest of Mr. C. P. Huntington, who had a large judgment
Totalinoom e____. . . . . 4,008,852 5,459,519 4,960,182 4,463,813 against the oompany, but was resisted by the 1st mortgage bondholders,
who organized a strong committee to buy the road on foreclosure. J. L.
Disbursements—
$
$
$
Chairman, 7 Nassau Street.
Interest on debt................ 1,188,091 1,264,279 1,949,690 1,980,200 Robertson, (Jas. Robinson) was appointed in June, 1885, on a judgment
Dividends..........................
975,000 1,724,664 1,600,000 1,300,000 ofReceiver
C. P. Huntington for $639,305. Frank H. Davis, President: New
Rate of dividend........ .
8
8
8
, 6*2
inking fund......................
702,864
813,945
418,270
131,292 York. (V. 40, p. 509, 617, 685; V. 41, p. 190, 421, 557, 613, 293, 339.)
Seaboard Sc R o a n o k e .—Owns from Portsmouth, Va., to Weldon.
iscellaneous.....................
157,812
381,545
.........
miles. Of the stock, $1,058,700 is common, $200,000 is 1st 7
Total disbursements.. 3,023,767 3,802,888 4,349,505 3,411,492 N. C., 80 ^ a r ., and $44,200 is 2d guar. Net earnings 1883-84, $186,778:
per cent
Balance, surplus...............
985,085 1,656,631
610,677 1,052,321 1884-85, $163,191. J. M. Robinson, President, Baltimore, Md. (V. 40.
—(V. 40, p. 652 ; V. 41, p. 2 4 1 , 3 0 6 , 318, 341, 434.
p. 686.)
St. P a u l Sc N orthern P acific.—Line of road Brainerd to St. Paul,
S u n b u ry & L e w is b u r g .—Line from Shamokin to
137 miles. This company was incorporated in 1874 as the Western West Milton, Pa., with iron bridge over Susquehanna River at Sunbury*
RR. Go. of Minnesota; from Sauk Rapids to Minneapolis was completed The road wns built by Philadelphia < Reading, and opened in 1883 for
&
July 1,1884, and from Minneapolis to St. Paul, February, 1, 1886, its coal traffic northward. Stock, $1,000,000.
BONDS.
STOCKS AND
RAILROAD
, 1886.]
RAILKOAD STOCKS AND
84
BONDS.
[V oii. X L ir ,
Subscribers w i l l eonfer a great fa v or b y g iv in g im m ed ia te n otice o f a n y error discovered in these T a bles.
Bonds—PrinoiINTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or
pal,When Due.
Amount
When
Par
of
For explanation of column headings, &c., see notes of
Last
Outstanding Rate per Payable Where Payable, and by Stocks—
Cent.
Whom.
on first page of tables.
Road. Bonds Value.
Dividend.
$50
Shamokin Talley d Pottsville—Stock..........................
29
$869,450
1st mortgage, gold, on road and lands.............
2,000,000
28 ¿871 500 &c.
1,000
Shenandoah valley—1st m (Hag. to Waynesbo.)___ 144 1880
2,270,000
1,000
4,113,000
General mort., gold.................................................... 254 1881
1,000
2,500,000
3d mortgage income bonds, registered, non-cum.. 254 1883
584,969
Car trust certificates..................................................
1,200,000
Shenango d Alleghany—1st mortgage......................
” 57 1869 500 &c.
West Pennsylvania & Sbenango, 1st m ortgage...
100
1,000,000
50
Shore Line ( Oonn.) -S tock ........................ .................
200,000
50 1880 lOOO&c.
1st mortgage..............................................................
1,000
500,000
34 1884
Sodus Bay d Southern.—1st mortgage, gold.............
100
25 1871
450,000
Somerset—1st mortgage, gold......................................
100
4,204,160
South Carolina—Stock................................................. 247
244,663
1st mortgage, sterling lo a n .................................... 247 1868 Various
500
523.000
1st mortgage, dollar bonds (L)................................ 247 1868
1,000
4,510,000
1st consol mortgage (for $5,000,000).................... 247 1881
1,000
1.130.000
2d consol, mortgage.................................................. 247 1881
1,000
2.538.000
Income mortgage bonds (not cumulative)............ 247 1881
1,000
391,000
So. d No. Alabama—1st M., endorsed by Alabama. 181 1870
£200
4,620,110
183 1873
Sterling mort., s. fund, guar, by L. & N................
1,000
2,000,000
2d mortgage bonds (owned by L. & N.).................. 183 I860
1,000,000
76
South Pacific Coast—Stock.........................................
South Pennsylvania—
Stock (for $20,000,000)..........
(?)
1st mortgage (for $20,000,000)..............................
(?)
1,000
90,000
Southern Cent. (N.
1st mortgage bond s............ 114 1869
3,299,200
Consol, mort. (for $3,400,000) convertible............ 114 1882 200 &c.
100 88,076,200
Southern Pacific COMPANT—Stock ($100,000,000) 4,750
9,604,000
Southern Pac. o f Arizona—1st mort., gold,cp. or reg. 384 ’79-’80 1,000
South. Pac. (Cm.)—1st mort.,gold,land gr., cp. or reg. 955 ’75-’82 500 &c. 32,932,000
1,000
250,000
15 1880
Monterey, 1st mortgage..........................................
S h a m o k in V a lley & P o ttsv ille .—Line of road, Sunbury, Pa., to
Mt. Carmel, Pa., 27 miles; branch tc Lancaster Colliery, 2 miles total 29
miles. The road was leased Februaiy 27,1863, to the Northern Central
Railway Company, with a guarantee of interest on the bonds and 6 per
cent per «.nnnm on the stock. The yearly reports will be found in the
Chronicle with the reports of the Northern Cent. RR. Gross earnings for
1883, $500,688; net, $300,847. Gross earnings for 1884 $437,827;
net, $226,927. Geo. B. Roberts, President, Phila.
Sh en an doah V a lle y .—Prom Hagerstown, Md., to Waynesboro and
thence to a connection with the Norfolk & Western road at Roanoke,
238 miles and branches 17 miles. A close contract for working and an
exchange of stock for Norfolk & Western stock; also a contract with Penn.
RR. for exchange of business was made in 1883, by which the Pennsyl
vania and the Cumberland Val. RR. companies agreed to lay by a certain
percentage of their gross receipts from business with the Shenandoah
Val. to be used for the purchase of Shenandoah Valley’s general mortg.
bonds. In any year prior to October 1,1888, this fund could be applied
to the purchase of coupons if the earnings were insufficient to pay
interest. The stock is $3,696,200, ef which $3,057,100 [is held by the
Norfolk & Western RR. Co.
In March, 1885, owing to a deficiency in earnings to meet liabilities,
Sydney P. Tyler was appointed receiver, on application of the Fidelity
Insurance Trust & Safe Deposit Co. The April interest is in default.
In 1884 gross earnings were $742,371, against $854,415 in 1883; net,
$129,356, against $192,257. See annual report for 1884 in V. 40, p.
682. (V. 40, p. 183, 394, 427, 509, 543, 6 8 2 , 686, 764.)
Shenango & A lle g h a n y .—Owns from Greenville to Hilliard, Pa..
47 miles; branches, 10 miles; total operated, 57 miles. Leases the West
Pennsylvania & Shenango connecting road, extending from this Mne to
Butler, 24 miles, under construction in 1883. The company made
default in 1879, but the October coupons were paid Feb. 21,1880. Road
went into hands of receiver, and foreclosure proceedings begunin June,
1885. Stock, $200,000. Gross earnings in 1883, $192,302; net, $73,401.
Gross 1884, $185,991; net, $65,183. A. H. Steele, President. Titusville,
Pa. (V. 40, p. 717; V. 41, p. 134, 421.)
Shore Line (C on n .)—Line of road, New Haven, Conn., to New
London, Conn., 50 miles. Leased to New York & New Haven RR. Co. in
perpetuity Nov. 1,1870, at $100,000 net per annum. Chartered as New
Haven < New London RR.; sold in foreclosure and reorganized under
fe
present title June 29,1864. Dividends 3*3 in Jan. and 4 in July. Operar
tions and earnings are included in thé reports of the lessee.
Som erset.—Oakland, Me., to Anson, Me., 25 miles. Capital stock
$379,050. In September, 188.3, the bondholders took possession and pre
pared to reorganize the company. Gross earnings in 1883-84, $31,162;
net, $4,175. Gross in 1884-85, $30,860; net, $5,864.
Sodus B a y Sc Southern.—From Sodus Point to a junction with
the Elmira J<eff. & Canandaigua at Stanley, N. Y., 34 miles. The Ontario
Southern was foreclosed Nov., 1882, and this company organized. The
stock is $500,000. owned by Northern Central RR. Co., by which the
road is operated. Loss in 1884-85 over interest, $88,739. (V. 40, p. 153,
763.)
South C arolin a.—Owns from Charleston to Augusta, S. C., 137 m.,
branches to Columbia, 68 m., and to Camden, 38 m.; extension. 4 miles;
total main line and branches, 247 m. Default was made and the road
gold in foreclosure July 28, ’81, and the company was reorganized with
stock and bonds as above.
The annual report for 1885 was In the C h r o n i c l e , V . 42, p . 337.
INCOM ACCOU
E
NT.
1882.
1883.
1884.
1885,
Receipts—
$
$
$
$
Total gross earnings
1,313,821 1,326,969 1,233,292 1,151,840
Net earnings............
501,191
432,875
382,724
328,156
Other receipts..........
3,497
13,890
5,880
30,271
Total net income
504,688
446,765
388,604
358,427
Interest on d e b t....
Interest on incomes
Rate paid on incomes
M iscellan eous.......
357,817
126,900
5
4,149
373,754
76,140
3
2,472
382,722
............
............
252
374,524
........
............
8,020
T ichiii'cp)’» pyt i Q
V
_
Total disbursem’ts
488,866
452,366
382,974
382,544
Balance........ ............ sur. 15,822 def. 5,601 sur. 5,630 dei. 24,117
—(V. 40, p. 3 3 6 ; V. 42, p. 3 3 7 .)
Sou th & N orth A la b a m a .—Owns from Decatur, Ala., to Mont
gomery, Ala., 182 miles, with a branch of 6 miles from Elmore to
Wetumpka. The road is controlled by the Louisville & Nashville RR.
Company, which owns a majority of the stock and all of the second mort
gage bonds, $2,000,000, due 1910, which are pledged with the Union
Trust Co. as security for the L. & N. bonds, dated June 1,1880. 500,000
acres of land in Alabama, largely mineral, nave been transferred to the
Louisville & Nashville Co. Common stock, $1,469,082; preferred stock,
$2,000,000. In 1884-85 gross earnings were $1,541,289; net, $537,481;
interest and taxes, $560,847; deficit, $23,365; due Louisville & Nashville
RR. Co., $1,733,805.
South Pacific Coast (N a rrow -ga u ge).—Owns from Newark to
Junction (Felton), C a l, 45 m . leased—
San Antonio Creekto Newark, 25
at.; Felton to Santa Cruz, 6 m .; total, 76 m. There are no bonds, but in
F. & A. Philadelphia,Treasurer. Feb. 1, 1886
3
do
do
7 g. ,T. & J.
July, 1901
7 g. J. & J. Last paid Jan., 1885. Jan. 1, 1909
6 g. A. & O. Last paid Oct., 1884. April 1, 1921
Feb. 1
None paid.
6
Jan. 1, 1923
None paid,
A. &"o. N. Y., N.Bk. of Com’rce. 1889 & Ì907
"7
J. N. H., Nat. N. H. Bank. Jan. 5, 1886
S.
do
do
March, 1910
J. N. Y., Penn. RR. Office. July 1, 1924
J.
July, 1891
Feb. 1, 1883
London.
J. & J.
1886 to 1888
J.«& J. N.Y.,Co.’s Office, 68 Wm 1886 to 1888
A. & O.
do
do
Oct. 1, 1920
J. & J.
do
do
Jan. 1, 1931
Yearly.
do
do
Jan. 1. 1931
J. & J. N. Y., Drexel, M. & Co. Jan. 1, 1890
M. & N. London, Baring Bros. May 1, 1903
A. & O. N. S . Union Trust Co.
T
1910
313
41
a
5 g7 g.
5
5 g.
7
6
6
6
8 g.
6 g.
6
J.
M.
J.
J.
&
&
&
&
7
5
F. & A. N. Y., Vermilye & Co
F. & A.
do
do
Aug. 1, 1899
Feb. 1, 1922
New York City.
Mar., 1909-10
6 g- J. & J.
6 g- A. & O. N. Y., Mills Building. 1905-6 &19L2
A. & 0.
5
do
do
April 1,1900
Jan., 1884, there was debt due the treasurer $1,791,322. Gross earnlags 1883, $711,426 ; net, $197,686. A. E. Davis, Prest., San Francisco.
South P e n n sy lv a n ia .—This is the title of the company construct
ing a railroad in Pennsylvania in which Mr. W. H. Vanderbilt and his asso
ciates were heavily interested. The line was in progress between Harrisb,
& Pittsb., 225 miles, making a western extension of the Phila. & Read
ing system. The mortgage for $20,000,000 was filed in May, 1885.
The parties to the original syndicate agreement subscribed $15,000,000 in cash with which to acquire the $20,000,000 of bonds and
$20,000,000 of stock of the South Pennsylvania Company. Soon
after the syndicate was formed, in 1883, the American Construc
tion Company was ineorported in New Jersey. This corporation made
an agreement with the South Pennsylvania RR. Company, by which it
was to build and equip the latter’s road. In July, 1885, it was
agreed that the Vanderbilt interest should be transferred to the
Pennsylvauia Company, and that company offered to give the
South Pennsylvnnia subscribers $6,500,000 bonds of the Bedford
& Bridgeport RR., guaranteed by the Penna. Railroad Co., bearing
3 per cent interest, in payment for the property. Other large parties
joined with the Vanderbilt interest and the negotiation was practically
completed,when the Attorney-General ofjPennsylvania brought a suit
to enjoin the transfer; the suit is yet pending. Robt. H. Sayre, Pres.
Office, Harrisburg. (V. 40, p. 543, 626, 731, 764; V. 41, p. 77.103,134,
155, 243, 273, 307, 357, 421, 445; V. 42,p. 94, 148.)
Southern Central (N. IT.)—Owns from Fairhaven, N. Y., to Penn
sylvania State Line, 114 miles. Leases the Ithaca Auburn & Western.
Freeville to Auburn, 38 miles; State Line to Sayre, 2 miles. Total
operated, 154 miles. Road forms an extension to Lake Ontario for the
Lehigh Valley Railroad, in the interest of which company it is con
trolled. A readjustment of funded debt was made in 1882 on the present
basis. The new 5s are convertible into stock at option of holders within
ten years, and $100,000 are held intrust to retire the prior bonds due in
1899. Capital stock paid in is $1,790,574. In 1883-84, gross earnings
were $484,329; net, $170,867; in 1882-83, gross, $511,900; net, $230,
579. (V.40, p. 153.)
Southern Pacific C O M P A N Y ..—This corporation was organized
Aug. 14,1884, under the laws of the State of Kentucky. It holds most
of the stock of the Southern Pacific of California and the other railroads
connecting with it to New Orleans, mid leases each of those roads; also
has a lease of the Central Pacific for 99 years. The report to fh&Stoek
Exchange in 1886 had the following statement of the total stock ol each
of the said companies owned by the Southern Pacific Co.:
Total stock
Name o f corporation.
Stock owned, o f company.
So. Pac. RR. Co., of California....................... $43,360,050
$44,039,100
So. Pac. RR. Co. of A rizon a ......................... 19,992,600
19,995,000
6,688,800
6.888,800
So. Pac. RR. Co. of New Mexico..................
Mor. L. & Texas RR. & SB. Co.....................
3,995,900
5,000,000
Gal. Harris. & San An. Ry. Co..................... 25,780,400
27,085,100
Texas & New Orleans Ry. Co.......................
4,972,500
5,000,000
Louisiana Western RR. Co.................
3,310,000
3,360,000
Mexican International RR. C o ....................
4,164,100
4,922,100
Total............. ........................................$112,264,350 $116,290,100
Galv. Har. & San Ant., West. Div., 6s.............
1,110,000
Total stock and bonds....................................$113,374,350
The earnings of the whole system for the six months, July 1 to Dec.
31,1885, showed a surplus over all fixed charges of $1,588,006; in Jan.,
1888, tnere was a deficit of $444,061. (V. 40, p. 5 0 6 , 509 ; V. 41, p. 23,
134, 216, 373, 496, 722, 745; V. 42, p 94, 156, 157, 243, 272, 305, 366,
464,488.)
Southern Pacific o f A rizo n a .—This is the connecting line of the
South. Pacific of Cal., extending from Yuma to N. Mexico boundary, 384
miles. The stock is $19,995,000. Operated under lease to Central Pac.
ill Nov. 1, 1885, at $135 per mile per month. Rental for 1883, $635,355.
Southern Pacific (o f C aliforn ia). (See Map.)—L i n e o f R o a d .—
This road and connections are well shown on the accompanying map. The
road in California is in two divisions—the North. Div. from San Francisco,
to Très Pinos, lOO^ miles ; Camadero June, to Soledad, 60*2 miles; ana
leased line, Castroville June, to Monterey, 15 miles; Santa Cruz RR., 25
m.; total in North. Div., 201 miles;—the South. Div., Huron via Goshen to
Colorado Riv., 529 miles; Los Angeles via Wilmington to San Pedro, 25
miles; total South. Div., 551 miles; total South. Pacific in Cal., 749 miles.
At Goshen the Southern Div. meets the San Joaquin Branch of the Cent.
Pac., by which it reaches San Francisco and the main line of Central
Pacific. At Yuma, connects with its closely affiliated lines extending
to Galveston and New Orleans.
Organization, &c.—The Southern Pacific was a consolidation Oct. 12,
1870, of the Southern Pacific, chartered Dec. 2,1865 ; the San Francisco
& San Jose, Aug. 18,1860; Santa Clara & Pajaro Valley, Jan. 2,1868,
and California Southern, Jan. 22,1870. Afterwards the Southern Pacific
Branch RR. (chartered Dec 23,1872,) and the Los Angeles & San Pedro
(chartered Feb. 18,1868) were absorbed. The Central Pacific RR. leased
the southern division, but in March, 1885, this lease was annulled and
the whole line was leased to the Southern Pacific Company. In August,
1884, sold 242 miles of road on certain terms to the A. & P., extending
from the western terminus of the A. & P. to Mojave; and right of way over
the balance of the line to San Francisco is secured at a fixed rental. (See
STOCKS AND
RAILROAD
A pril, 1886.]
KAILROAD
8 6
STOCKS
AND
BONDS.
|Vol . x l h .
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered in these Tables.
DESCRIPTION.
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount Rate per
For explanation of column headings, &c., see notes of
Par
of
When Where Payable, and by Stoelcs—Last
on first page of tables.
Road. Bonds Value. Outstanding
Cent. Payable
Whom.
Dividend.
Southern Pacific o f N. Mexico—Mort., coup, or reg.. 167 1881 $1,000 $4,180,000
J. & J. N. Y., Company’s Office Jan. l ; 1911
Southwestern ( Ga.)—Stock, guarant’d 7 per annum 321
100
5,049,300
J. & D. Savannah,Cent-RR. Bk. Dee. 22.1885
Southwest Pennsylvania—Stock................................
44
....
816,500
M. < S. Phila. and Greensburg. Mar., 1886
fc
1st mortgage..............................................................
1,000
1877
962,000
F. & A. Philadelphia Office.
Feb., 1917
Spuyten D uyvil c6Port Morris—Stock.........................
....
6
....
989,000
J. & J.
New York.
Jan., 1886
Slate Line & Sullivan—1st M., conv. (red’ble aft.’88)
24 1879 100. «fee.
200,000
J. & J. N Y., Union Trust Co. Jan. 1, 1899
Staten Island—1st mortgage.......................................
1,000
13 1873
300,000
A. & O. S . Y., S. I. Rap. T. Co. April 1,1893
Staten Island Rapid Tran.—1st m., $ or &, cp.or reg. All. 1883
1,000
1,000,000
A. & O. N. Y., Loud. & Glasgow. Jan. 1, 1913
2d mortgage (for $2,000,000) int. guar by B.& O.
1,000
1885
(1)
J. & J.
New York,
July 1, 1925
Sterling Mountain (N.Y.)—1st mort., income, guar.
1,000
7% 1881
475,674
Feb.
do
do
July 7. 1895
Stockton < Copperopolis—1st mort., (guar, by C. P.)
&
45 1875 500 «fee.
500,000
J. & J. N. Y., Central Pacific. January. 1905
Sum m it Branch, (Pa.)—Stock.....................................
50
. ...
20
4,125,000
F. & A. Phila., 233 So. 4th St. Feb. 16,1876
1st mortgage bonds...................................................
1874
1,000
20
1.185,000
J. & J.
do
do
Jan. 1, 1904
Sunbury Hazleton & Wilkesbarre—1st mortgage.. . .
....
43 1878
1,189,000
M. & N. Philadelphia, Penn. RR. May 1, 1928
2d mortgage...............................................................
....
43 1878
1,350,000
M. & N.
do
do
May 1, 1938
Sunbury < Lewistown—1st mortgage............. ........
£
500
43*2 1876
500,000
J. < J. Phila., Guar. T. & D. Co July 1, 1896
fc
Suspension Bridge < Brie Junction—Stock...............
£
....
....
23
500,000
Yearly.
1st mortgage..............................................................
1,000
23 1870
1,000,000
J. "<fc'j. N. Y. Lake Erie « s West. July 1, 1900
S
Syracuse Binghamton & N. Y.—S tock......................
100
81 1875
2,500,000
Q.—Mar N.Y., D. L. < W. RR. Co. Mar. 1, 1886
fe
2d mortgage (now first)...........................................
1,000
81 1867
270,000
J. < D.
&
do
do
June, 1887
Consol, mortgage (guar. D. L. & W.)......................
1,000
81 1876
1,750,000
A. & O.
do
do
Oct. 1, 1906
Syracuse Geneva < Corning—1st m ortgage.............
&
....
57 1875
928,300
M. & N. N.Y.,Farmers’ L.& T.Co. Nov. 15,1905
2d mortgage................................................. . ...........
1879
....
600,000
M. & S.J
Mar. 1, 1909
Syracuse Ontario < New York—Bonds.......................
6
....
43 1883
900,000
1933
2d mortg., income......................................................
....
1883
500,000
1983
Terre Haute < Indianapolis—Stock............................. 114
&
50
1,988,150
F. « s A. N,Y.,Farmers L.«feT.Co. Feb. 1,1886
S
Bonds of 1873............................................................
1,000
1873
1,600,000
A. « s O.
S
do
do
1993
Terre Haute < Logansport.—Stock......................." ” '
6
50
116
500,000
1st mortgage, guar, by Terre Haute & Ind’napolis
1,000
93 1879
500,000
J. & ’j N.Y., Farmers’L.&T.Co.
"m o "
1st mortgage, extension (2d on 93 miles)...............
1,000
65 1883
1,000,000
1913
Texas Central—1st mortgage, g o ld ............................ 177 1879
1,000
2,145,000
M.'& N. Hast paid Nov., ’ 84.
Nov. 1, 1909
N. E. Div., mort., gold (2d on 177 miles)...............
1,000
52 1881
1,254,000
M. « s N Last paid Nov., ’ 84.
S
May 1, 1911
General mortgage, (pledged).................................... 228 1884
1,000
2,286,000
M. « s N. Last paid Nov., ’ 84.
S
Nov. 1, 1934
----- —
—
ww. a j o u io ua w . x . XUMUX v XXX v n A v m v x i U t
p. 594.)
t
•w vi
authorized stock is $90,000,000, of which
$44,039,100 has been issued and is held mostly by the So. Pacific Co.
The bonds above are m series A, B, C, D, E and F, of which A included
$15,000,000 and B, C, D and E each $5,000,000, and F $582,100.
The series A, B, C and D mature in 1905-6, the series E and F in 1912.
Over $5,000,000 of these bonds are held in the Central Pacific sinking
funds. The bonds are a mortgage on the lands, and as proceeds of
lands come into the hands of the trustees, bonds are purchased and
retired. There is also^ sinking fund of $100,000 per year.
L a n d G r a n t .— The land grant was 12,840 acres per mile, and proceeds
o f sales go to pay bonds. The total grant is estimated to furnish
10,445,227 acres, but a large proportion of the lands is barren and
useless for agricultural purposes without irrigation. In 1884 the sales
were 354,556 acres for $969,678; total acres sold to Dec. 31, 1884,
1,043,160 for $3,976,643.
O p e r a t i o n s , F i n a n c e s , «fee.—The Southern Pacific of California, with
its connecting lines, forms a route from San Francisco to New
O r ie ls . Owning the Morgan RR. and Steamship Co., this line has
a traffic from New York and other Atlantio cities direct to California.
The annual report for 1884 was published in the C h r o n i c l e , V. 40, p.
596. Income account was as follow s:
St o c k a n d
B o n d s .—The
INCOME ACCOUNT.
Receipts—
Net earnings of Northern Div.
Rental of Southern Division..
Contract with Wells, F. & C o..
Other sources............................
Redempt’n of bds. (land sales).
1882.
$642,508
1,666,666
159,000
1883.
$623,642
1,958,197
1884.
$632,987
2,032,343
595,000
43,645
300,000
29,536
*405,000
$3,063,174
Disbursements—
Interest on debt....................... $1,712,435
Sinking fund.............................
100,000
Taxes and street assessments.
323,988
Miscellaneous...........................
172,380
$2,925,484
$3,100,366
$1,977,624
100,000
250.479
190,361
$1,862,340
100,000
292,375
t 315,398
$2,308,803
$2,518,464
$2,570,113
$754,371
$407,020
$530,253
* In addition to this $313,000 bonds more were redeemed by sinking
fund, t Includes $185,686 spent on renewals of track.
—(V. 40, p. 29.121, 208, 338, 479, 509, 5 9 8 ; V. 41, p. 23, 24, 77, 89,
134, 273 ; V. 42, p. 148, 350.)
’
Southern Pacific o f N ew M e x ic o ,—Road extends from Ari
zona State Line to the Rio Grande at El Paso, Texas, 167 miles. Oper
ated under lease to Southern Pacific Company 1885, at $1,620 uer mile
per annum. Stock, $6,888,800.
*
Sou th w estern (G a.)—From Macon, Ga., to Eufaula, 144 miles;
has 177 miles of branches, the main one being from Fort Valley to Col
umbus, 71 mues. A lease was made Aug. 1,1869, to the Central RR.
Of Georgia which assumes the liabilities and guarantees 7 per cent on
TOe stock, but 8 per cent is to be paid if 10 per cent is raid on Central
Btock. In June, 1881, $32 per share in 6 per cent debt certificates was
declared by Central Georgia Railroad.
S o u th w est P e n n sy lv a n ia .—Greensburg, Pa., to Fairchance, Pa..
44 miles. Opened April 1,1873, and leased to Pennsylvania Railroad
which operates it at cost, paying net earnings as rental. In 1885
gross earning a were $562,920 and net earnings, $249,438. Interest on
bonds and 10 per cent on stock were paid out of net earnings of 1883
and 1884.
Spuyten B u yv el Sc P o rt M o r ris.—Road is 6 miles in length and
eonnects the New York Central & Hudson with the New York < Harlem
fc
Leased to New York Central November 1,1871. Rental is 8 uer cent on
Capital stock of $989,000. Operations are included in lessee’s returns.
State L in e Sc S u lliva n .—Owns fromMonroeton,Pa., to Berenice
Pa., 25 miles Originally organized as Sullivan .&Erie Coal & Railroad
Co., which was sold m foreclosure Oct. 14, 1874, and a new comuanv
formed Dec. 2,1874, under the present name. Stock, $990 00C (Dar *50)
The mortgage covers 5,000 acres coal lands. In May, 1884. this roa«fwns
leased to the Penn. & N. Y. Canal < RR. Co. for Arty years at $36 000
fc
per annum for three years and$40,000 afterwards. ( V. 40, p! 94.) ’
Staten Is la n d .—Local road on Staten Island, Clifton to Tottenville, 13 miles. Road is operated in connection with Staten Island
Ferry Company. Capital stock, $910,000, par $65 per shaie In Oct
1883, leased to Staten Island Rapid Transit Co. One per cent dividend
paid quarterly, January, April, June and October, on the stock.
Staten Isla n d R a p id T ran sit R R . —This Co. was incorporated
under the general law of New York State. The line of road is around
, fi-------- * - - - - -----op
•years’ lease of the B. I. Railway and controls the*Ferries
to N. Y. City. In November, 1885, the agreement with Balt. < Ohio
fc
was reported for making the terminals of that RR. Co. at New Brighton
b y means of a bridge over the Kills at Elizabethport. The B < o
fc
guarantees interest on the 2d mort, bonds of this Co., and owns amaioritv
of its stock of $500,000. (V. 41, p. 611, 653.)
^
Sterling M o u n ta in (N. Y .) —Road runs from Sterlington on the
Railway to Lakeville, 7-6 miles. Bonds guaranteed by Sterling Iron
stocli’ $80,000. Earnings in 1883-84, $40,325 gross
aJlU «plU)120 not.
.
company is a consolidation,
made Nov. 17,1877, oi the btockton & Copperopolis and the Stockton <
fe
Visalia. Line of road, Stockton to Milton and Peters to Oakdale,Cal., 49
- -Lfc&sed to Central Pacific Railroad. Company for thirty years
from December 30,1874. By the terms of the lease the lessee agrees to
pay principal and interest of the bonds. Capital stock, $234,500. The
sompany previously made default July, 1874, and the $1,000,000 of
did bonds were exchanged for the present issue guaranteed.
Su m m it R ranefi (P a .)—This company leases the Lykens Valley
RR., and it has a small branch of its own to Summit Mines, % of a mile.
The road is operated bv the Northern Central under contract. Traffic is
£ ° j X £ ? < !lveJ ooa1, Gross receipts in 1884, includ. coal, $1,689,124;
^
S?l
y
ne| §324,014; int. and advan., $218,911. Gross in 1885, $1,402,405;
>
I
n p i“
e* ro
1885' $I16,5a9, S b
8a ‘8t
n Sunbury H a z leto n Sc W ilk e sb a r r e .—Suubury to Tomhioken,
Pa., 43 miles. Foreclosed March, 1878. Stock, $1,000,000. The Penn.
.
large interest in it. Gross earnings in 1885, $493,197;
net, $267,255. J. N. Du Barry, President, Philadelphia.
r>
& L e W ig t o w n .—Selinsgrove Junction to Lewistown,
ra., 43 miles. Leased to Pennsylvania RR. for contingent interest in
net earnings, which in 1883 were $132,285; in 1884. $105,855: in 1885.
$168,268. Stock, $600,000 and div’s of 6 per ct. a year have been paid.
Suspension B rid ge Sc Erie J u n c tio n .—East Buffalo Junction
to Niagara Falls and Suspension Bridge, 23 miles; Lock. < Buff. RR.
fc
leased, 14 miles; total operated, 37 miles. Road opened January, 1871.
It is leased to New York Lake Erie < Western Railroad Co. at 30 per cent
fe
of gross receipts, which are guaranteed to be not less than $105,000 per
aimum. Loss to lessees in 1883-84, $14,909. Lessees own all stock
except 297 shares.
Syracuse B in g h a m to n Sc N ew Y o r k . — Owns from Geddes,
N. Y., to Binghampton, N. Y., 81 miles. Chartered as Syracuse < Bing
fc
hamton and opened Oct. 23, 1854; foreclosed and reorganized April
30, 1857, and leased to Delaware Lackawanna < Western. In 1883-84
fe
gross earnings, $808,934 ; net, $344,285; interest. $141,400; divi
dends (8 per cent), $200,000. In 1884-85, gross, $692,761; net.
$275,329; int. $141,400; div. (4 p. c.), $100,000; surplus, $33,929.
Syracuse Geneva Sc C orn in g.—Owns from Corning, N. Y ., to
Geneva, N. Y., 57 miles. This road was opened December 10, 1877,
and is leased to the Fall Brook Coal Co. at a rental of 331« per cent
of its gross earnings. Stock is $1,200,000. In 1882-83 gross earnings
were $596,860; net, $281,439; rental, $198,953; balance to lessee,
$82,485. In 1883-4, gross, $678,370; net, $267,237; rental, $226,123;
miscellaneous, $65,070; loss to lessee, $23,856.
Syracuse O ntario Sc N ew Y o r k .—Owns from Syracuse, N. Y .,
to Earlville, N. Y., 43 ^ miles. The Syracuse < Chenango Valley Rail
fe
road was sold in foreclosure and a new company organized March 14.
1873, under the name of Syracuse < Chenango Railroad. April 15,
fc
1877, road was again sold in foreclosure and reorganized as Syra
cuse Chenango < New York, which also became embarrassed and passed
fc
into tli© hands of a receiver January, 1879, and reorganized under
present name in 1883. The N. Y. West Shore & Buffalo has acquired
control of the property. Stock, $404,600. Earnings in 1883-84, gross,
$98,361; deficiency after charging out interest account, $44,869. In
1882-83 gross earnings $86,139; deficiency after charging interest,
$53,990.
Terre H a u te Sc In d ia n a p o lis.—Owns from Indianapolis to Illi
nois State Line, 80 in., with coal branches, 37 m.; total, 117 m. The road
was opened in 1852 (as Terre Haute & Richmond). The company leases
and operates the Terre Haute < Logansport RR., also the St. Louis
fc
Vandalia < Terre Haute Road on joint account with the Pittsb. Cln. < St.
fc
fe
Louis RR., at 30 per cent of gross earnings, but guarantees the first and
second mort. bonds. In 1882-83 gross earnings, $1,297,690; net earn
ings, $404,103. In 1883-4, gross earnings, $1,127,388; net, $322,782 ;
total net income, $375,056; interest and 8 per cent dividends, $271 052:
loss on T. H. < L. lease, $83,449; loss on St. L. V. & T. H.. $14.310 •
fc
surplus for year, $6,245. (V. 40, p. 356
Terre H a u te & L o ga n sp ort.—Owns from South Bead, Ind.
to Rockville, Ind., 159 miles; leased, Rockville to Terre Haute, 22 m iles.
Total operated, 181 miles. Formerly Logansp. Crawfordsv. & Southw..
which was sold in foreclosure Sept. 10, 1879. and reorganized under
present name. Leased by Terre Haute & Indianapolis Railroad for 2$
per cent of gross earnings, and first mortgage bonds guaranteed by
that company. Rental in 1882-83, $78,478; loss to lessee, $141,208.
Rental, 1883-84, $85,526; loss to lessee, $83,449.
T ex a s C entral.—Line of road from Ross, in McLennan Co., to
Albany. Texas, 177 miles; Garrett to Roberts, 52 miles; total, 229
miles. Is controlled in Houston & Texas Central interests, by which,
company it is operated; but accounts are kept separate. The authorized
stock is $1,000,000; total issued, $130,2'00, of which H, < T. C. holds
fe
$50,000; Morgan Co., $75,000; directors, $5,300. Defaulted in interest
m 1885. The gross earnings in 1885, Jan. to Nov. 30, were $238,709;
net, $41,248. In 1884. gross, $283,637; net, $45,707. C. A. Whitney,
Pres.,N. O. (V. 42, p. 61.)
A pril , 1886. J
RAILROAD
STOCKS AKD
BONDS,
87
Subscribers w ill confer a great favor by giv in g im m ediate notice o f any error discovered in these Tables.
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due.
Miles Date Size, or
Amount
ot
Par Outstanding Rate per When Where Payable, and by Stocks—Last
of
For explanation of column headings, &c., see notes
Dividend.
Whom.
Cent. Payable
Road. Bonds Value.
on first page of tables.
July 1, 1910
$960,000
7 g. J. & J.
Texas-Mexiean—Corpus Ch.S.D.& R.G., 1st M., gold. 161 1880 $1,000
July 1, 1921
2,500,000
1,000
6 g. J. & J
1st mortgage, gold ($15,000 p. m .).......... .............. 165 1881
1,620,000
7
F. & A N. Y., Company’s Office. Aug. 1, 1905
1,000
Texas d N. Orleans o f ’74—1st mortg. land gr., coup 105 1875
k
March 1,1912
do
do
2,075,000
104 1882
1,000
6 g. M. & S.
Sabine Division, 1st mortgage, gold.......................
1893
6
584,000
J. & J.
do
do
1883
100
Debentures .................................................................
....
32,164,600
1,487
Texas < Pacific—Stock..................................................
&
3,784,000
6 g. M. & S. Last paid Sept.. 1885. March 1, 1905
524 1875
1,000
1st mortgage, gold, coup. (E. D iv.)........................
9,316,000
6 g. J. & D. Phila., N.York &London June 1, 1905
1,000
2d mort., consol., gold, coup. (E. D iv.).................... 524 1875
7
July. New York& Philad’phia Jan. 1, 1915
8,251,000
524 1875
1,000
Income and land mort., E. Div.. reg........
6
....
2,240,000
’79-’85
Scrip for int.on inc.mort. (red’mable inst’kor land)
521 1880
6 g. F. & A. Last paid Aug., 1885 Feb. 1, 1930
1,000 13,028,000
1st mort., gold, Rio Grande Division...................
J. & J. Last paid July, 1885 July 1, 1920
6,720,000
1,000
6 g.
New Orleans Pacific, 1st mortgage.. ....................... 336 1880
6
A. & O. Last paid Oct., 1885
Oct. 1, 1905
2,798,000
1,000
General and terminal mortgage ($6,500,000)....... 1,487 1884
Oct. 1, 1911
4,740,000
6 g. M. & S. Last paid Mar. 1883.
1881
1,000
Texas <t St. Louis in Mo.dk Arlc.—1st mort., gold .. . . .
March.
Oct. 1, 1911
6
4,740,000
500
1881
2d mortgage, income............................... . ...............
2,128,000
1,000
6 g. J. & D . Last paid June, 1883. June 1. 191 >
Tex. & St. L. in Texas, 1st mortgage, gold . . . . . . . . 266 1880
June 1, 1920
6
2,128,000
500
do
2d M.,income bonds. 1st M. on land 190 1880
1,817,000
1,000
1881
6 g. J. & D. Last paid June, 1883. Aug. 1, 1921
do
general 1st mort., gold---------- — . . .
Aug. 1, 1931
6
M. & S.
None ever paid.
1,817,000
500
1881
do
general 1st M. land grant & income.
Feb. 1, 1922
6
F. & A.
12,000 p. m.
1882
Texas Western (N. G .)- ls t m o r t g a g e ................
5
M. & N. Phil.,Newbold Sons &Co Nov. 1, 1915
239,500
54 1852
Tioga RR.—1st mortgage, due 1882 and extended .
Nov. 1, 1896
125,000
7
....
54 1876
Consolidated mortgage............................................
Oct. 1, 1905
A. & 0 .
7
265,000
20 1875
Extension bonds.........................................................
Oct. 1, 1895
A. & O.
160,000
7
7 1875
Elmira State Line Railroad mortgage....................
1,260,000
1,000
61 1881
6 g. J. & J. N.Y.,Farmers’ L.&Tr.Co Jan. 1, 1921
Toledo Ann Arbor d N. Mich.—1st (T. A. A. & G. T.)
k
May 1, 1924
800,000
1,000
6 g- M. & N.
1st mort., gold, No. Div. (for $2,100,000)............. 111 1884
....
1,547,662
55
Toledo Canada Southern d Detroit—Stock................
k
50 15,000,000
Toledo Cincinnati d St. Louis—Stock.........................
k
1921
2,930,000
1,000
6 g. J. & J. Last paid July 1,1882
St. Louis Div 1st mortgage, gold............................ 270 1881
July 1, 1921
2,706.000
do
2a mortgage, mcome, not cumulative.. 270 1881 500 &c.
Jan. 1, 1910
J. & J. Last paid July 1,1882
1,250,000
6
1,000
181 1880
ToL Del. & B., 1st mort., Tol. to K ok......................
Jan. 1, 1910
....
6
1,250,000
1,000
do
2d M., ino., non-cum., Tol. to K ok .... 181 1880
July 1, 1910
J. & J.
6
250,000
1,000
1880
do
1st mort., Tol. terminal trust “ A” ___
T e x a s -M e x ic a n .—Owns from Corpus Christi, Tex,, to Laredo on
the Rio Grande, 165 miles. Charter covers 1,400 miles in all. Under
same control as the Mexican National, and in November, 1883. a lease
for 99 years was made to the Mexican National Company. W. J. Palmer,
Pres’t. Land grant was 16 sections per mile, but not looated. Stock
authorized $12,000,000.
T ex a s & N ew Orleans ‘ ( o f 1 8 7 4 ).—Houston, Tex., to Orange
(Sabine River), 104 miles; and Sabine City to Rockland, 104 m iles;
total 208 miles. Belongs to the Huntington Southern Pacific system,
together with the Louisiana Western. This was a reorganization, 1874,
of the old Texas & New Orleans RR. The stock is $5,000,000, and
a controlling interest is owned by the Southern Pacific. In addition to
above bonds, there are $186,507 Texas School bonds. Gross earnings
from Jan. 1 to Feb. 28, $152,065 in 1886, against $$145,030 in 1885;
net, $67,137, against $54,386. Gross earnings In 1884, $872,141,
against $1,163,188 in 1883; net, $355,520, against $588,484. For year
1885 gross earnings were $1,017,618; net, $487,201. C. P. Huntington,
President, New York. (Y. 40, p. 61,153, 305, 394, 4 2 3 , 741; Y. 41, p.
23, 134, 216, 357, 745 ; V. 42, p. 243.)
T ex a s & P acific.—("See Map M issouri Pacific.)—Eastern Division From Texarkana to Marshall and thence to Fort Worth, 253 miles;
Texarkana Junction to Whitesboro, 239 miles; Marshall to Shreveport,
40 miles; total eastern division, 532 miles. Rio Grande Division—
Fort Worth to Sierra Blanco, 524 miles; Sierra Blanco to El Paso(joint
track), 92 miles; Gordon Branch to coal mines, 3 miles; total Rio
Grande division, 619 m. New Orleans Division—(Formerly N. O. Paci
fic RR.) Shreveport to N. O. and Baton Rouge Branch, 336 miles.
Total of all, 1,487 miles.
The Texas & Pacific was built under act oi Congress of March 3,1871,
and other acts in 1872 to ’74, and the laws of Texas. This company suc
ceeded to the right of the Memphis El Paso & Pacific Railroad and other
companies. By a oontract made in January, 1880, with the Paeiflo
Railway Improvement Company, the road was extended towards El
Paso on the Rio Grande, to meet the Southern Pacific of California, with
$25,000 in bonds and $25,000 in stock per mile of road. The Fidelity
Insurance Trust & S. D. Co. of Philadelphia are Trustees of the Rio
Grande Div. mortgage. A consolidation with New Orleans Pacific,
share for share, was voted in May, 1881. From the State of Texas
the company received 10,240 acres of land per mile, and by building
east of Fort Worth earned 4,931,702 acres, on which the income bonds
were a lien, as also a 3d mortgage on the road east of Fort Worth. The
total sales in 1884 were 544,984 acres at an average price of $3 07 per
acre; total sales, including lots, amounted to $1,677,563, of which $761.278 was paid in income bonds and scrip; lands yet unsold Dec. 31,1884,
3,893,794 acres. The railroad lands in Texas, however, do not lie adja
cent to the line of the roads owning them, but these are located in part
in c ounties along the Rio Grande division, 1,030.611 acres being in
....
Tom Green County, and 1,303,380 acres in El Paso County.
On income bonds the company may pay interest in scrip, but if the
option so to pay is not declared, tlie Court lield that cash must he paid.
Scrip was issued to holders of income bonds up to July, 1881, but not in
July, 1882 or 1883. In Oct., 1883, after action taken by bondholders to
collect interest, the company gave notice that 14 per cent scrip would be
Issued for the two years to July, 1883. Some holders resisted and obtained
a judgment in theU. S. Circuit Court for oash for those years. The com
pany appealed to. the U. S. Supreme Court. The interest scrip is redeem
able only in stock or in payment for land, and interest at 6 per cent is
allowed on it onlv when turned in in payment for land. In July, 1884
and 1885 interest up to June 30 was paid promptly in scrip.
In June, 1884, the earnings of the company were insufficient to meet
Its interest, owing largely to the disasters by floods on the New Orteans
Pacific Division. The coupons due June 1, 1884, on the consol, bonds
E. D.,were bought at par for the Missouri Pacific Railroad. On the
Rio Grande Division and the New Orleans Pacific bonds one half of
nine coupons in succession was to be funded into general 2d mortgage and
terminal bonds, and the other half of each coupon paid in cash as it
matures. The coupons of the consol, mort. bonds E. Div. were to be paid,
but deposited with a Trust Co., and their lien preserved as against any
action by the income bondholders. See the terms of adjustment in V. 39,
p. 674. This arrangement ended with the part payment of coupons due
In August, 1885.
In Dec., 1885, L. A. Sheldon and John C. Brown were appointed re
ceivers of the company on application of the Mo. Pacific RR. Co. See
the bondholders’ committee’s report, &c., in V 41, p. 714.
The report for the year 1884 was in V. 40, p. 202, and had the following:
INCOM ACCOUNT.
E
1884.
1882.
1883.
$5,918,756
$7,045,652
Gross earnings............................ $5,919,732
$783,932
$1,648,007
Net earnings............................... $1,343,292
129,124
392,791
Other income.............................
346,511
—(V. 40. p. 183. 241, 30 2 , 570, 742; V. 41, p. 190, 714; V. 42, p. 23,
61, 94, 207, 293, 464.)
T ex a s & St. L o u is In M issou ri a n d A rk a n sa s.—Narrowgauge road from Birds Point, Mo., opposite Cairo, 111., to Texarkana,
Tex., 419 miles, and thence by the “ Texas & St Louis RR. in Texas” to
Gatesville, 304 miles; total, main line, 723 miles; branch^, Paw Paw
to New Madrid, 6 miles; McNeil to Magnolia, 6 miles; total, 735 miles.
Capital stook was $9,592,500 (par $100), which amount included
$3,945,000 deposited in trust to take up a like amount ot the old stook of
the Texas & St. Louis in Texas. The company issued $12,500 per mile
in 1st mortgage bonds, $12,500 incomes and $12,500 stock, and the in
comes were a 1st mortgage on the land grant and a 2d mortgage on the
road. Land grant was 10,240 acres for each mile of finished road in
Texas, but only about 1,000,000 acres were assured. The road was
opened in 1883.
In January, 1884, W. R. Woodward was appointed receiver on suits
brought by the Cent. Trust Co. of New York as trustee of the mortgages.
A new plan of reorganization after sale was referred to at length in the
C h r o n i c l e , V . 41, p . 273, by which the present holders of stooks and
bonds will receive new securities in various proportions, and the old
stockholders will receive 25 per cent of their holdings in new stook trust
certificates, which are issued by the reorganization committee, as they
hold the right to vote and control the road for five years. The road in
Texas was sold Deo. 1,1885. for $1,700,000 to the bondholders, com
mittee. The Mo. & Ark. Division was sold on Feb. 27, 1886, to a rep
resentative of the bondliolder’s committee, and the status is given in
the table above as it stood with the old company, reorganization being
yet in progress. (V. 40, p. 454, 509, 588, 653, 717, 734; V. 41, p. 77,
103, 134, 243, 273, 357, 393, 421, 586, 654, 722, 745 ; V. 42, p. 217,
305,488.)
T ex a s W e ste rn ,—Projected from Houston, Tex., to Presidio Del
Norte, Tex., 900 miles. In operation, Houston to Sealey, 52 miles, com
necting with Gulf Col. & 8. Fe RR. Stock authorized, $3,000,000. Land
grant 10,240 acres per mile. (V. 40, p. 562.)
T io g a .—Owns from Arnot, Pa., to State line New York, 44 miles;
branch, Blossburg, Pa., to Morris’ Run, Pa., 4 miles; leased, Elmira
State Line Railroad, State line New York to Northern Central Rail
way Junction, 7 miles; and Arnot & Pine Creek RR., Arnot to Hoytvilie, Pa., 12 miles; total, 67 miles. Controlled by N. Y. L. E. & W.
The stock is $391,200 com. and $189,700 pref. In 1882-83, gross earn
ings, $524,171; net, $257,967; in 1883-84 gross, $389,841; net, $142,021;
interest, $57,851; surplus over all payments, $65,286.
Toled o A n n A rb or & N orth M ic h ig a n .—(See M ap)—Owns
from Toledo, O., to Mt. Pleasant, Mich., 172 miles, which carries the
road into the heart of the lumber region of Michigan. Capital stock
is $2,700,000. The annual report for 1884 was in V.'40, p. 568; the
net earnings were in exoess of interest ohatges. The report for 1885
will first include the operations of the whole line. The old first mort
gage on 61 miles c o v e ’s the Southern Divi-ion. formerly called the Tol.
Ann Arbor & Grand Trunk Railroad. James M. Ashley, President, 150
Broadway, N. Y. (V. 40, p. 5 68, 764; V. 42, p. 126, 272, 397.)
T oled o Canada Southern & D etro it.—Toledo, Ohio, to Detroit
(G.T. Junction), Mich., 55 miles. Road opened September 1,1873. Oper
ated by Canada Southern. The bonds were exchanged into Canada
Southern first mortgage bonds at 70 per cent of face value.
T oled o C incinnati & St. L o n is.—This is the consolidated line
(narrow gauge) of the Toledo Delphos & Burlington and Toledo Cin. & St.
Louis. Owns from Toledo to St. Louis, Mo., 451 miles,
The interest coupons due in 1883 and 1884 on the first mortgage
bonds, in April, 1883, were partly funded into 6 per cent scrip due Oct.,
1891. In Aug., 1883, receivers were appointed; the old Frankfort &
Kokomo R. R. bonds, of about $85,000, including interest, are a prior
lien, and other charges made the total ahead of first mortgage bonds
probably about $1,300,000.
The two Divisions, embracing the whole road from Toledo to St. Louis
were sold Dec. 30. 1885, to S. H. Kneeland of N. Y., representing the
bondholders, at $800,000 for the Toledo Division and $901,000 for the
St. Louis Division. In March, 1886, a reorganization was made, under
three different names in Ohio, Indiana and Illinois respectively, these
three companies to be consolidated into one.
The proposed plan of reorganization (Quigleyiplan) was in the Chron
icle, V. 38, p. 480, and embraced the following points (though this
plan was modified afterwards in some particulars, and the new plan
has not yet been published. The organization of a new company ana
the conversion of the narrow into a standard gauge track. A first
mortgage will be made for $6,750,000 ($15,000 per mile), the bonds to
$913,056 run 40 years and bear 6 per cent interest. The second mortgage will be
$2,040,798
Total net receipts..............$1,689,803
for $7,u00,000, to run fifty years, and bear interest at 4 per cent from
Deductions—
$1,970,085 *$1,970,190 January 1,1888, to January 1,1893 and 6 per cent thereafter.
Interest on debt..........................$1,670,950
At Cincinnati, June 26,1884, by order of the Uniteu State t Circuit
287,152
244,317
Taxes and other oharges..........
137,333
Court, four divisions of the Toledo Cincinnati & St. Louis narrowgauge system were sold to satisfy judgments. (V. 40, p. 61, 9 4 ,1 5 3 ,181,
Total deductions...... ..„.$ 1 ,8 0 8,2 8 3
$2,214,402
$2,257,342
Deficit................................. $118,480
$173,604 $1,344,286 2417 427, 454, 509, 570, 588. 764: V. 41, p. 43, 7 6 ,1 6 2 ,1 9 0 ,2 0 3 ,
357, 474.,52B, 557, 654, 689; V. 42, p.23, 207, 366, 397, 431.)
* Full interest charge, but interest was not all paid, partly funded.
8 »
RAILROAD
STOCKS AND
BONDS.
[V o l . XLIl
MAP OF THE
TOLEDO, ANN ARBOR
AND
NORTH MICHIGAN
¿ ^ ^ g A I L W A Y & CONNECTIONS.
Rogers City~',-v
’rojected Lines
A pril, 1886.]
RAILROAD STOCKS AND BONDS.
89
Subscribers w ill confer a great favor by giv in g Im m ediate notice o f any error discovered In these T a bles.
[Bonds—Princi
INTEREST OR DIVIDEN DS.
DESCRIPTION.
pal,When Due.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stoclcs—Last
of
Par
For explanation of column headings, &c., see notes of
Dividend.
Whom.
Cent. Payable
Road. Bonds Value. Outstanding
on first page of tables.
1885
1881
1874
1878
74
1875
1875
429
238
1883
1873
1871
1871
1871
1871
1878
1854
1862
1868
1,820
1,038 1866-9
1,038 1866-9
1,038 1874
1867-9
1871
1879
1883
1879
140 1865
$1,000
1,000
1,000
1,000
1,000
1,000
100
1,000
1,000
100
1,000
1,000
1,000
£200
1,000
1,000
1,000
1,000
T o led o & Ohio C entral.—(-See Map Columbus Hocking Talley
& Toledo).—Owns from Toledo, O., to Corning, 184 miles, including 12
miles leased; Hadly Junction to Columbus, 29 miles, Including 5 miles
leased; total operated, 213 miles. This company was formed after s-tle
in foreclosure of the Ohio Central main line on April 15, 1885. The
preferred stock is $3,750,000 and common $1,600,000: the first mort
gage is for $5,000,000, but no more than $3,000,000 can be issued
except by consent of three-fourths of the present bondholders. The
bonds have their interest guaranteed by the Columbus & Hooking
Valley RR. Co., and by an agreement with that company the stock of
Col. & H. V. was offered in exchange for three-fourths of the new stock
of Tol. & O. C., in the proportion o f one share of C. & H. V. for one of T.
& O. C. preferred, and one share of C. & H. V. for two shares of T. & O.
C. com mon; the remaining one fourth of T. & O. C. stock, together with
all that acquired by C. & H. V. by the exchange, were to be deposited
with trustees. This placed the control of T. & O. C. with the C. & H.
V. Company. (See agreement in V. 40, p. 597. The gross earnings of
Ohio Central main line in 1884 were $1,076,917; net, $183,456. (V. 41,
p. 243, 438-)
T o n a w a n d a V a lley & C uba.—Owns from Attica, N. Y. to Cuba.
N. Y., 60 miles. Stock$587,100. Securities listed at New York Stock
Exchange December, 1882. $113,000 of 1st mort. bonds are reserved
to redeem same amount of 6 per cent bonds due 1910. Mr. Bird W.
Spencer was appointed receiver in 1885. Gross earnings in 1883-84,
$50,332; deficit, $42,255. Gross in 1884-85, $18,694; def., $5,073. R. G.
Taylor, Buffalo, N. Y., Pres. (V. 40, p. 543; V. 41, p. 474; V. 42, p. 23.)
T r o y & B o s to n .—Owns from Troy, N. Y., to Vermont State line, 35
miles; leased: Southern Vermont 5 miles; Troy & Bennington, 5 miles;
Vermont State line to North Adams, 6 miles; total operated, 53 miles.
The 1st consol, bonds are used to redeem 1st and 2d morts., and 2d
consols, to redeem floating debt. $319,000 of other issues of bonds out
standing Sept., 1884. Stock, $1,623,110. In 1883-4 deficiency over all
charges was $27,008. Earnings for three years past were:
Freight (ton)
Gross
Net
Passenger
Mileage. Earnings. Earnings.
Years.
Miles. Mileage.
24,979,26$ $523,547 $213,766
18818 2 .... 53
7,315,713
25,965,501
569,820 205,323
188283 .... 53
7,313,014
16,733,352
483,561 192,539
188384 .... 53
6,544,500
—(V. 41, p. 586.)
T y ro n e & Clearfield.—East Tyrone Pa., to Curwensville, Pa., 44
miles; branches, 20 miles; total, 6 4 miles. This company was organized
April 1,1867, after sale in foreclosure. It was leased to the Pennsyl
vania Railroad in 1878 and new lease for 50 years made in 1382. Gross
earnings in 1885, $551,000; net, $121,344. J. N. Du Barry, President,
Philadelphia, Pa.
U lster & D ela w a re .—Owns from Rondout (Hudson River), N. Y ,
to Stamford, N. Y., 74 miles. This was the Rondout & Oswego in 1876;
reorganized May 28,1872, as New York Kingston & Syracuse, and again
after foreclosure, May 1, 1875, as Ulster & Delaware. The stock is
$1,152,100. There are also $50,000 real estate mortg. bonds. In 188384 the gross earnings were $316.884; net earnings $80,404. Thomas
Cornell is President, Rondout, N. Y.
U n ited N ew Jersey R a ilro a d & Canal Co.—Lines of Road.—
New York to Philadelphia and branches, 135 miles; Camden to Amboy
and branches, 226 miles; Trenton to Manunka Chunk and branches,
81 miles: total operated, 443 miles. Delaware & Raritan Canal, 66 miles.
This company was formed by a consolidation in 1867 of the Delaware &
Raritan Canal Company, the Camden & Amboy Railroad, and the New
Jersey Railroad & Transportation Company. The United New Jersey
Railroad & Canal Companies were leased in May, 1871, to the Penn
sylvania Railroad for 999 years, at a rental of 10 per cent on the
stock, oesides interest on bonds. The smaller leased roads were taken
with their several contracts. The lease has not been directly profitable
in cash receipts to the Pennsylvania Railroad, and the net loss in 1879
was $939,889; in 1880, $1,035,308; in 1881, $302,864 ; in 1882, *568,759; in 1883, $635,914; in 1884, $593,536; in i885, $159,496; but the
connection with New York was indispensable. Operations and earn
ings for five years past (including the fanal) were as follows:
Passenger
Fr’ght (t’ns)
Gross
Net
Div.,
Years. Miles. Mileage.
Mileage.
Earnings.
Earnings, p. ct..
1 8 8 3 ..
.435
238,561,431542,827,918 814,956,596$4,151,632 10
1 8 8 4 ..
.443
248,789,706552,423,17114,709,8873,960,043
10
1 8 8 5 ..
.445
272,789,011595,671,67414,655,3744,395,617
10
U n io n Pacific R a ilw a y .—(See Hap.)—Lines of Road.—Main
line—Council Bluffs to Ogden and branches, 1,049 miles; other
branches—Kansas City to Denver. 643; Denver to Cheyenne, 106;
Leavenworth to Lawrence, 34; total owned, 1,832 miles; controlled
and operated in the Union Pacflo system January, 1885—Omaha &
Repub. Valley RR., 237 miles; OmahaN. & Black Hills RR., 114; Colordo Central RR., 327; Echo & Park City RR., 32; Utah & Northern RR.,
462 ; Lawrence & Emporia RR., 31; Junction City & Ft. Kearney, 87;
Solomon RR., 57; Salina & Southw’n, 36; Kan. Cen., 167; Den. & Boulder
Valley., 27; Golden Boulder & Car., 6; Oregon Short Line and branch,
610; Greeley Salt Lake & Pacific, 54; Denver South Park & Pacific. 321;
Salt Lake Western, 57; Georgetown Breckenridge & Leadville, 8 miles;
Montana Railway, 9 m iles; total thus controlled, 2,644 miles; total oper
ated in the U. P. system Jan. 1,1885, 4,476 miles.
The Central Branch Union Pacific and leased lines (388 miles) are
operated by the Missouri Pacific under an agreement with Union Pacific
O
196
60
35
53
64
.O
o
1
-4
Toledo < Ohio Central—1st mort. gold, interest guar
£
Tonawanda-Talley < Cuba—1st mort. ($500,000)..
6
Troy <t Boston—1st mortgage, consolidated.............
New mortgage bonds (for $1,000,000)..................
Tyrone < Clearfield—Stock........................................ .
6
1st mortgage...............................................................
Ulster < Delaware—1st mortgage...............................
k
2d mortgage income bonds....................- .................
United N. J. RR. < Canal Companies—Stock...........
&
Gold bonds..................................................................
General mortg., gold and currency, coup..........
Uni tea Co.’s mortgage, sinking fund, registered..
do
sterling lo&n mortgage, sinking fund
do
do
do
do
do
do
dollar loan, m ortgage..........................
do
gold loan, reg..................... .................
Joint Co.’s plain bonds..................................... --do
consol, mort. (sink’g fund after 1880)
N. J. RR. & T. Co., 3d loan due State of N. J ........
Union Pacific—
Stock— ............................................
1st mortgage, gold, on road and equipment..........
2d mortgage currency (Government subsidy) —
3d
do
on road (2d on land), sinking fund..
Land grant b o n d s...............................- .............. - - - •
Omaha bridge bds, st’g, (s.f. about $65,000 yrly).
Collateral Trust bonds.......................... ...................
Collateral trust Donds of 1883, g o ld .....................
Kans. Pac.,cons. M..,g.(for $30,000,000),cp. or rg.
do
1st M., g, cp., on 140m. west Mo. Riv.
$3,000,000
3 25,000
1,424,000
925,000
1,000,000
1,000,000
200,000
1,400,000
21,240,400
1,824,000
5,669,000
2,000,000
1,846,000
1,800,000
154,000
841,000
866,000
5,000,000
100,000
60.868,500
27,229,000
27,236,512
14,621,000
2,706,000
1,716,000
4,662,000
3,688,000
14,905,005
2,240,000
5 g6
7
7
2%
5
7
7
2%
4
6 g.
6
6 g.
6 g6
6 g.
6
6
6
1%
6 g.
6
8
7
8 g.
6
5
6 g6 g.
J. & J.
New York Agency.
M. & S.
New York Office.
J. & J. N. Y., Nat. B’k of Com.
A. < O.
fe
do
ao
J. & D. Phila., 233 South 4th.
J. & J.
J. < J. Rondout, Co.’s Office.
fe
F. & A.
New York.
Q .-J . Phila. and N. Y. Offices.
F. & A. Philadelphia Office.
M. & S.
do
do
A. & O. Phila., Pennsylv’a RR.
M. & S.
London.
M. & 8.
do
F. & A. Phila., Penn. RR. Office.
M. & S.
do
J. & D.
Princeton, N. J.
M. & N. Philadelphia Office.
A. & 0. N. Y., B’k of Commerce.
Q .-J . New York and Boston.
J. & J.
do
do
J. & J. U.S. Treas., at maturity.
M. < S. New York and Boston.
fe
A. & O.
do
do
A. & O. London & New York.
J. & J. N. Y., Union Trust Co.
J. & D. Boston, N. Engl’d Tr.Co.
M. & N. N. Y., 40 Wall Street.
F. & A.
do
do
July 1, 1935
Sept. I, 1932
1924
1903
Deo, 1885
July 1, 1905
July 1, 1905
Apr. 10, 1886
Feb. 1, 1923
Mch. 1, 1901
Oct. 1, 1894
Mch. 1, 1894
Mch. 1, 1894
Feb. 1, 1888
Sept. 1, 1908
Jan. 1, 1889
Nov. 1, 1889
Overdue.
April 1, 1884
1896 to 1899
1896 to 1899
Sept. 1, 1893
1887-’89
April, 1896
July 1, 1908
Dec. 1, 1907
May 1, 1919
Aug. 1, 1895
for twenty-five years from 1885, and not included in the mileage oper
ated by Union Pacific. The U. P. also has large interests in the St. Jos.
& West. RR., 251 miles: the Utah Central, 280 m.; Leavenworth Topeka
& 8. W., 47 m.; Manhattan Alma & Burlingame, 56 m ; Manhattan <
fc
Blue Valley, 1 1 m . and Nevada Central, 93 m .; total, 738 miles, all of
which are operated separately.
O r g a n i z a t i o n , &c.—This company, the Union Pacific Railway, was
formed by a consolidation, Jan. 24,1880, of the Union Pacific RR. and
the Kansas Pac. and Denver Pac., made under authority of the acts of
Congress of July 1,1862 and July 2,1864. The Union Pac. RR. was
chartered by Act of Cjngress of July 1,1862, which gave the company a
land grant of 12,800 acres per mile, estimated at a total of_ 12,083,227
acres, and a subsidy in U. S.bonds of $27,236,512 on 1,033 miles of road.
The Kansas Pacific was organized as “ Leavenworth Pawnee & West
em ” in 1861; then changed to “ Union Pacific, Eastern Division,” June
6,1863, and to “ Kansas Pacific” On March 3, 1869. The Pacific Rail
road acts of 1862 and 1864 applied to this road, and gave it a subsidy
of $6,303,000 and a land grant of about 6,000,000 acres.
The Denver Pacific—Denver to Cheyenne, 106 miles—was built undeaf
the charter of the Union Pacific, E. D. (Kansas Pacific).
As to the debt of the Pacific railroads to the United States Govern
ment a decision of the U. S. Supreme Court settled the point that the
payment of interest on the loans was not obligatory on the companies
till the principal of the bonds became due. Afterwards Congress passed
the Thurman Act, May 7,1878, which, for the Union Pacific, provided
that 25 per cent of the net earnings, after deducting interest on the
first mortgage bonds, should be paid annually to the Government as fol
lows : First—Applied directly to interest account, one-half of Govern
ment earnings and 5 per cent of net earnings, after deducting interest
on first mortgage bonds. Second—To be placed in the sinking fund—
the other half of the Government earnings and so much of $850,000 as
may be necessary to make all the payments by the company equal 25
per cent of its net earnings. On Dec. 31,1885, this sink, fund invested
in U. S. bonds (par value) was $4,875,100, and the premium paid on
bonds and cash uninvested was $1,130,933; total, $6,006,033.
S t o c k a n d B o n d s .— The capital stock issued and outstanding is
$60,868,500, having been increased about $10,000,000 since the consoli
dation in 1880. Dividends since 1879 have been as follow s: in 1880, 6
per cent; in 1881, 6%; in 1882,7; in 1883,7; in 1884, 3%; none since.
The yearly range in prices of the stock has been—In 1880, 80®113%;
in 1881, 105%®131%; in 1882,
in 1883, 70%®104%; in
1884, 28®845s; in 1885, 41®62%; in 1886 to April 16, 44%® 563s.
By act of Congress of July 2,1864, the Government loan was made a
second lien and the company’s first mortgage bonds to the same amount
were made a first lien on the roads. The Union Pacific land bonds are
retired rapidly with proceeds of land sales.
Of the Union Pacific collateral trust bonds, the flrstissue was 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 of 1883 are secured by the following bonds: Colorado Central RR.
$2,446,000; Utah & Northern RR. $2,353,000; Omaha & Rep. Valley
RR. $419,000; Utah Southern RR. extension $975,000; Denver South
Park & Pacific RR. $1,544,000; Kansas Central RR. $1,162,000 ;
total $8,899,000.
.
‘
The outstanding bonds of Kansas Pacific above are given less the
amounts of each class held by the trustees of the general mort. The con
sol. mortg. trustees are Jay Gould and Russell Sage, and they held in
trust on Jan. 1, 1885, the following bonds ot the Kansas Pacific, making
$6,585,950 in all, viz.: Leavenworth Branch, $568,000; income (unsub
ordinated) bonds. $215,350; income (subordinated) bonds, $3,751,600;
Cheyenne Branch Den. Pac. bonds, $2,051,000. They also held $1,892,
700 of the stocks and $3,158,000 of the bonds of other companies
controlled by the Union Pacific.
L a n d G r a n t .— The proceeds of land sales on the Union Pacific main
line are applicable to the principal ot the land grant bonds, and after
that to the sinking fund mortgage 8 per cen1 bonds. On the Kansas
Pacific the cash income from land was formerly applied to the interest
on the general mortgage, but in 188 5 towards principal. On Dec. 31.
1885. the company had iu cash from the Union Pacific grant the sum
of $3,194,475. and in land contracts--------------- , which sums are appli
cable first to the payment of the la id grant b mds. and then to the pay
ment of the 8 per cent siuking fund bonds due in 1893.
The sales in 1883,1884 and 1885 were as follow s:
1885.
1884.
1883.
Union Pacific—
743,704
4,321,043
805,833
Acres sold...........
$2,436,767 $6.5 L7,773 $1,223,227
Am ount...............
$1 52
$3 11
Average price—
Kan. Pacific—
690,294
452.566
218,185
Acres sold............
$965,557 $1,917,876 $2,817,159
Amount...............
$4 21%
$4 41%
Average price. . . .
T ota l1,433,999
4,773,609
1,024,018
Acres sold............
$3,402,324 $8,435,649 $4,040,387
A m oun t............. .
The Kansas Pacific lands, from the 380th mile westward, are covered
first by the Denver Division mortgage, and all the lands of the Kan. Pae.
by the consol, mortgage.
Land sales for three months from Jan. 1 to March 31 in 1886 and.
1885 were as follow s:
R A IL R O A D
STOCKS
AND
BONDS.
[Vol.- x l i i .
RAILKOAD
A p r il , 1886.]
STOCKS
AND
91
BONDS.
S u b sc rib e rs w i l l co n fer a g r e a t fa v o r b y g iv in g im m e d ia te n o tic e o f a n y e r ro r d isc o v e red In th e se T a b le s ,
Bonds—Princi
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount
For explanation of column headings, <fec., 866'notes of
of
Par Outstanding Rate per When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds. Value.
Cent. Payable
Whom.
Dividend.
Union Pacific—(Continued) —
Kansas Pac., 1st mort., gold, 140th to 393d mile,
do 2d M.(to U.S.Gov.) on 394m.W. Mo.R.
do 1st,394th to 639th m., l.g., 3,000,000 acs
do
1st mort., coup., (Leavenworth B r.)..
do
Income bds, coup., 3d M.on 427 miles
Utah Central—Stock......................................................
1st mortgage, gold.....................................................
Utah Southern, general mortg. (for $1,950,000)..
Utah South. Extern, 1st M., Juab to Frisco..........
Utah A Uevada—Stock.................................................
Utah A Northern.—1st mortgage..................... . . . . . .
Utica A Black Rwer—Stock.........................................
Mortgage bonds..... ............... ...................................
Black River & Morristown, 1st mortgage..............
Clayton & Theresa, 1st mortgage, guaranteed. . . .
Ogdensburg < Morristown, 1st mortgage.............
fe
Utica Ohenango A Susquehanna Valley—Stock.......
Utica Clinton A Binghamton—1st mortgage............
Valley (N. T.)—Stock...................................................
1st mortgage..............................................................
Valley (O hio)—1st mortgage.......................................
Consol, mortgage gold (for $3,300,000)................
Valley (V a .)—1st mortgage.........................................
Vermont A Massachusetts—Stock................................
Bonds of 1883 (guaranteed by Fitchburg RR.) . ..
Vermont Valley o f 1871—Stock.................................
1st mortgage..............................................................
253
394
245
34
427
280
36*2
105
138
37
462
180
87
36
16
10
98
31
12
113
59
50
24
1866 $1,000 $4,063,000
1865-7
6,303,000
1869
6,259,000
1,000
1866
1,000
32,000
1866
260,050
50 «fee.
100
4,225,000
1870
1,000
1,000,000
1879
1,000
1,950,000
1879
1.950.000
1,000
555,860
1,000
5.543.000
1878
2,047,000
100
1871
1,107,000
1874 500 «fee.
500,000
200,000
143,000
1883
1,000
4,000.000
100
790,000
’6Ö-’72 500 «fee.
750,000
400,000
1881
1,600,000
1879
1,000
863,000
1881
1,000
750,000
1881
3,050,000
100
1,000,000
1883
1,000,000
50
800,000
1,000
1880
6 g. J. & D. New York, 40 Wall St.
6
&
6 g. M. «fe N. N. Y., Lond. < Frankf’t.
M. «fe N. New York, 40 Wall St.
7
M. «fe S. N. Y., Bk. of Commerce
7
1
Q .-J . New York, 40 Wall St.
do
do
6 g- J. & J.
7
J. «fe J.
do
do
7
J. < J.
&
do
do
7
3
7
7
7
5
3
6 &7
5
5
7
6
6
3
5
3
5
J.
M.
J.
J.
J.
J.
M.
J.
«fe J.
«fe S.
«fe J.
«fe J.
«fe J.
«fe J.
«fe N.
«fe J.
J.
M.
A.
A.
M.
J.
A.
«fe D.
«fe S.
< O.
fe
< 0.
fe
«fe N.
«fe J.
< 0.
&
June 1, 1896
1895 t o ’ 97
May 1, 1899
Jari 1, 1896
July 1, 1916
Oot., 1884.
Jan. 1, 1890
July 1, 1909
July 1, 1909
New York, 40 Wall St.
Utica.
N.Y., Nat.Bk.of Com’ce.
do
do
Utica < N.Y.Bk.of Com.
fc
Utica.
N. Y., D. L. «fe W. RR.
N. Y., Cont. Nat. Bank.
N. Y., D. L. «feW.
do
do
July 1, 1908
Mar. 30,1886
Jan. 1, 1891
Jan. 1, 1894
July 1, 1898
Jan. 1, 1891
Nov. 1, 1885
1886 < 1890
&
During 1885
Aug. 1, 1911
1906
New York.
Sept. 1,1921
Balt, and New York.
Oct. 1, 1921
Boston, Office.
April 7, 1886
Boston. Fitchburg RR. May 1, 1903
Bellows Falls.
Jan. 2, 1886
Bost., SafeDep. «feTr.Co Oct. 1, 1910
1835«.
Labilities—
Proceeds.
$
60,868,500
60,868,500
60,868,S O OT
$263,940 S tock.................................... .
84,173,285
SI,957,682
391,181 Funded debt................................ 84,506,332
33,539,512
33,539,512
United States subsidy bonds... 33,539,512
15,324,738
15,167,214
Total......... ............. 138,718
$311,814
252,149
$655,121 Accrued int. on subsidy bonds. 13,863,041
3,237,697
fl,861,445
Floating debt............................... 3,482,656
O p e r a t i o n s , F i n a n c e s , &c.—The Union Pacific has made large earn Interest accrued not d u e ..........
795,915
788,671
774,104
ings and until 1883 and 1884 operated its road at a low percentage of General income (profit and loss) t7,692,810
17,837,350 tl0,493,284
expenses. The competition ana reduction of rates by building of new Income used for sinking fund.. 1,791,488
2,383,029
2,976,634
lines was the main cause for the decline in earnings. The company has Land and trust income.............
14,180,742
18,641,134
5,714,689
extended rapidly and built and acquired much new mileage, of which
the Utah Northern and Oregon Short Line are two of the most import
212,259,843 222,333,523 226,279,509'
Total liabilities
ant branches. The Oregon Short Line was opened through to a connec
tion with Oregon in November, 1884.
t After deducting deficit of U. S. requirements, as compared with
The claim of the Government for arrearages was decided in January, acoTued interest on U. S. bonds Feb. 1,1880, to date.
1885, to be about $967,466, and was paid in full in April.
i Not including 916,704 due to U. S. under Thurman Act, paid April
The preliminary annual report for 1885 was in the C h r o n i c l e , 16,1885.
V. 42, pp. 429, 432. The remarks of Mr. Chas. Francis Adams, Jr;,
the President, in regard to the year's operations were of much interest. —(V. 40, p. 41, 61. 85, 144. 183, 214, 233, 321, 364, 380, 385, 3 9 1 ,
Of the whole system of roads his report showed that while the 427, 454. 482, 495, 5 0 7 , 509, 570. 626, 636, 718; V. 41, p. 24, 35,103,
gross earnings of the system for 1885 increased over the gross earnings 162, 188. 190, 203, 274, 307, 393, 474 , 528, 557, 586, 689,722, 746;
for 1884 in the sum of $267,881, the operating expenses increased in V. 42, p. 61, 148,157, 187, 217, 305, 339, 350, 410, 4 2 9 , 4 3 2 , 431,
still larger ratio, so that the result of the year’s business was a decrease 438.)
of $1,021,724, equivalent to 9-47 per cent in the net earnings. The
U ta h C e n tra l—(See map Un. Pacific)—From Ogden, Utah, to Frisco,
small comparative increase in gross earnings was due to various causes, 280 miles. A consolidation July 1, 1881, of the Utah Central, Utah
among which may be specially mentioned: 1st. Constant reduction in Southern and Utah Southern Extension. Stock is $4,225,000 and 2 per
rates. 2d. Diminished receipts from through business, both freight cent paid in 1884. In 1882 gross receipts $1,531,486; net. $897,949. In
and passenger, which the increased receipts from local freights and 1883, gross. $1,174,737; net, $756,212. In 1884 gross earnings were
passengers had to make good. While the decrease must soon stop, there $1,038,938; net, $478,333. For four mouths from Jan. 1,1885, gross
is no apparent reason why the increase should not go on indefinitely. earnings were $236,527, against $303,174; net, $88,955, against $99,There was an increase in local business of $2,222,455, and a decrease in 760. (V. 40, p. 281.)
through business of $1,803,830. The increase in local business has, by
U ta b Sc N ev ad a.—
Owns from Salt Lake City, U. T., to Terminus
the sum of $418,625, more than made good the decrease in through U. T., 37 miles. The Utah Western made default January 1,1878, ana
business. 3d. The failure of the 1835 wheat crop in Kansas; this the road was held by trustees for the bondholders, and was foreclosed
entailed, as compared with 1884, a less of traffic to the Kansas Pacific of Nov. 3, 1880, and this company organized. Gross earnings in 1884»
at least $300,000. 4th. The disturbance in the coaltraffioof the com
pany, caused by labor troubles at Rock Springs, in the closing months of $37,125; net, $11,500. Sidney Dillon, President, New York City.
U ta b Sc N o rth e rn —
(Sec map Union Pacific)—From Ogden, Utah,
the year. The loss thus occasioned cannot be definitely ascertained;
but it has been i stimated, by those most competent to form an opinion, to Garrison, and the line of Northern Pacific, with brandies to Butte
City and Anaconda Mines ; total, 466 miles. This road forms a connec
at not less than $250,000.
For two months from Jan. 1,1886, gross earnings were $3,083,169, tion between the Northern Pacific at Garrisons, Montana, and the Union
Pacific at Ogden. Stock $5,543,000, and 6 per cent dividend paid in
against $3,238,838 ; net $601,552, against $367,274.
The earnings and income account for the whole Union Pacific system 1884, and 1 per cent Jan , 1885. The road was built by Union Pacific,
which owns $4,816,400 stock and $4,968,000 bonds. For the year 1883,
in 1884 and 1885 were as follow s:
gross earnings, $1,969,207; net, $778,631; in 1884, gross, $1,998,577;
e a r n i n g s a n d i n c o m e a c c o u n t f o r 1884 a n d 1885.
net, $884,947; interest, dividends, «fee., $734,311; surplus, $150,636.
U tic a Sc B la c k R iv e r .—
Owns from Utica, N. Y., to Philadel
1884.
1885.
phia, N. Y., to Morristown, N. Y., to Ogdensburg, to Sackett’s Harbor
Gross earnings..........................
$25,657,290 $25,925,172 and to Clayton, 180 miles in all. A consolidation with leased lines was
Operating expenses and taxes.
14,868,115
16,157,721 made in March, 1886, embracing this mileqge. The company has paid
moderate dividends for a number of years. In April, 1886 the road was
Net earnings.......... ......................................... $10,789,175
$9,767,451 leased to the Rome Watertown < Ogdensburg RR. Co. at a rental guar
&
Income from inve^ttn’ts outside of the system
406,416
1,382,811 anteed to pay fixed charges and 7 per cent yearly on the stock. Gross
Proceeds miscellaneous land sales..................
10,335 earningsin 1884-5 were $796,081; net, $316,640.
7,455
Profits on investments, premiums, «fee..........
66,474
—(V. 42, p. 1 2 4 , 397, 488.)
Received from trustees K. P. consol, mortg.
U tic a C h en an go Sc S u s q u e h a n n a V a lle y .—
Owns from Utioa,
on account of interest..................................
207,110
249,415
N. Y., to Greene, N. Y., 76 miles; branch to Richfield Springs, 22 miles;
total, 98 miles. Road opened October, 1872. Leased to Del. Lack. St
Total income............................................... $11,518,936 $11,367,707
Western at 6 per cent on stock. Has no bonded debt. (V. 38, p. 705.)
Expenditures—
Interest on bonds............................................... $5,397,070
$5,336,267
U tic a C lin to n Sc B in g h a m to n .—
Owns from Utica, N.Y., to
Discount and interest.......................................
356,133 Randallville, N. Y., 31 miles, and leases Rome «fe Clinton Railroad, 13
366,077
Losses on investments, premiums, «fee...........
93,945 miles. Total, 44 miles. Opened June 22, 1872, and leased to New
Sinking fund requirements, company’s b ’nds
593,605 York < Oswego Midland Railroad. The lease was transferred to
&
591,540
Interest on bonds of auxiliary lines...............
fe
1,191,010 the Delaware < Hudson Canal Co., which pays the rental of $70,500 per
1,213,036
Land taxes and land expenses, Union Div ..
39,920 annum for U. Cl. < B. and $25,500 for Rome & Clinton. The road was
fe
84,837
Loss on Leavenw. Top. & S. RR.,’83 and ’84.
21,578 operated by the Del. Lack. < West, till April 1,1883. Gross earnings
fc
in 1882-83, $199,600; net. $94,030. Gross in 1883-4, $214,371 ; net,
Total expenditure............................
$7,652,562
$7,632,464 $99,463. Capital stock, $636,285. Isaac Maynard, Pres., Utica, N. Y.
Surplus income.................................................. $3,866,374
$3,735,243
V a lle y (N. Y .) B a l l r o a d . —Owns from Binghamton, N. Y., to State
Less—United States requirements..................
1,187,110
1,184,053 line of Pennsylvania. 12 miles. Opened October, 1871. Leased to
Delaware Lackawanna < Western at 8 per cent per annum on stock,
fe
Total surplus income
$2,551,190 which was reduced in 1882 to 5 per cent, the lessee assun ling the in teresi
$2,679,263
on bonds. Samuel Sloan, President. New York City.
A comparison of the condensed balance sheet for three years is as
V a lle y (O h io ).—
Owns from Cleveland, O., to Wheeling Junction, O.,
follow s:
76 miles, and 9 ^ miles of small branches. The temporary debt and car
GENERAL BALANCE AT CLOSE OF EACH YEAR.
trust amount to $663,541. Earnings in 1884, $542,361; net, $226,275 ;
1883.
1884.
1885.
deficit over interest, &c., $12,4-2. Stock. $1,042,302. (V. 41, p. 557.)
Assets—
$
V a lle y (V a.)—
Owns from Harrisonburg to Salem, Ya., 113 miles.
$
$
Road, equipment, &c................. 157,391.640 158.918.607 159.298,919 In 1883 it was extended from Staunton to Lexington, 36 miles. By
Stocks and bonds owned, cost.. 33,667,827
fe
39,233,527 this and connecting lines under B. < O. control, the distance from Lex
37,499,325
Miscellaneous investments.......
283,143
680,891 ington is 243 miles to Baltimore and 217 miles to Washington. The
620.640
Advances..................................... 5,645,715
3,415,280 Baltimore & Ohio has a large interest in its securities. In 1883i84, gross,
4,797,936
Materials, fuel, «fee.....................
2,557,564
1,683,432 $110,400; net, $34,337. Iu 1884-5 gross, $118,953; net, $34,665.
1,220,612
Denver Extension sink’gfun d,
289,000
522,480
407,000
V e rm o n t Sc M a s s a c h u s e tts .—
Line of road, Fitchburg to Green
Trust 5 per cent sinking fund.......................
70,440 field, Mass., 56 miles; branch, 3 miles. The road is leaded to the Fitch
Bonds and stocks held iu trust. 3,210,950
3,215*250 burg RR. for 999 years at 6 per cent.
3,215,200
18,159,290
Land department assets............ 9,214,104
15,654,203
V e rm o n t V a lle y o f 1 8 1 1 .—
Owns from Bellows Falls to BratTotal,
212,259,943 222,333,523 226,279,509 tleboro, Vt., 24 miles, and by purchase of stock She Sullivan County
Union Division............
Kansas Division........
Acres.
99,655
39,063
Proceeds.
$107,484
204,330
Acres.
156,819
95,330
93
RAILROAD
STOCKS
AND
BONDS.
[V ol.
X L II.
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f an y error discovered in tbese Tables.
Bonds—
Princi
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount
Par Outstanding Rate per When Where Payable, and by Stocks—Last
For explanation of column headings, &e., see notes of
of
on first page of tables.
Road. Bonds Value.
Cent. payable
Whom.
Dividend.
Vicksburg t§ Meridian—1st mortgage............... .
140 1881 $1,000 $1,000,000
6
A. & O. New York, Plock & Co.
1,000
2d mortgage............................................................... 140 1881
1,100,000
4 to 6 M. & N.
Mny 1, 1921
3d mortgage income (not cumulative)...................
140 1881 500 &c.
1,920,000
7
do
do
June 1, 1921
1,000
Vicksb. Shrevep. < Pac.—Prior lien mort., gold........ 189 1835
£
1,323,000
6 g. M. & N.
New York.
Nov. 1,1915
....
....
1st mortgage, gold............. ......................................
4,000,000
6 g.
Aug. 12,1920
....
Income bonds............................................................
3,500,000
100
....
Virginia Midland—Stock............................................ 354
4,940,363
1881
Bonds, 1st series.......................................................
ë
600,000
M. & S.
Mar. 1, 1906
....
1881
do
2d series............... ......................................
1,900,000
6
M. & 8.
do
Mar. 1, 1911
....
1881
do
3d series.......................................................
1,100,000
5 & 6 M. & S.
do
Mar. 1, 1916
....
1881
do
4th series....................................................
950,000
3-4-5 M. & S.
do
Mar. 1, 1921
....
1881
do
1,775,000
5 th series.......................................................
5
M. & 8.
do
Mar. 1, 1926
....
1881
do
6 th series............................................... .......
1,309,000
4 & 5 M. & S.
do
Mar. 1, 1931
1,000
3,985,583
6
Income mortgage bonds strictly cumulative.___ __ 1882
J. & J. Last paid July, 1884
Jan. 1, 1927
1,000
52 1874
Virginia <t Truckee—\st M. (pay’ble $100,000 a year)
500,000
10
Q —F. San Fran., Bank of Cal. Aug. 1, 1889
100 27,372,500
Wabash St. Louis < Pacific—Stock, common............ 3,518
£
100 23,034,200
---Preferred stock, 7 percent (not cumulative)........ 3,518
Q.—F.
1*2
Nov. 15,1881
....
1884
Receivers’ certificates .............................................
329,740
1,000 17,000,000
1880
General mortgage, gold (for $50,000,000)............. All.
6 g. J. & " . Last paid Dec. 1,1883 June 1, 1920
d
1,000
5,671,000
Collateral trust bonds coup, (see remarks)............ AU. 1883
6
M. & N.
May 1, 1913
1,000
1,163,000
131 1880
1st mort. bonds on Champaign Hav. & West........
6
J. & D. Last paid Dec. 1,1883
Deo., 1910
131 1879 100 &c.
do
1st pref., convertible___
340,900
7
J. & J. Last paid Jan. 1,1884 July 1, 1909
1,000
262 1830
1st mort., gold (Chic. D iv.).................................... .
4,500,000
5 g- J. & J. Last paid Tan. 1,1885 July 1, 1910
1,000
1st mort., gold, on Cairo Division.........................
270 1881
3,857,000
5 g. J. & J. Last paid Jan. 1,1884 Oct. 1, 1931
1,000
112 1881
1st mort., gold, Detroit Division............................
2,052,000
6 g. J. & J. Last paid Jan. 1,1884 July 1, 1921
1,000
1st mort., gold, Indianapolis Division..................
87 1881
2,000,000
6 g. J. & D. Last paid Deo. 1,1883 Jan. 1, 1921
1,000
74
Indianapolis Peru & Chic., 1st mortgage.............
275,000
7
J. & J.
June 1, 1921
....
—
Hav. Rantoul & East., 1st mortgage....................
75
300,000
7
J. & J. Last paid Jan. 1 1884
1897
1,000
143 1881
1st mort., gold, Iowa Division...............................
2,052,000
6 g. M. & S. Last paid March 1,1884 Mar. 1, 1921
1,000
75 1853
Wabash, 1st mort. (Toledo & Illinois)...................
900,000
7
F. & A. Last paid Aug. 1.1884 Aug. 1, 1890
1,000
do
1st mort. (Lake Erie Wab. & St. L.)___
167 1853
2,500,000
7
F. & A. Last paid Aug. 1,1884 Aug. 1, 1890
1,000
180 1863
do
1st mort. (Great Western of 1859)........
2,496,000
7
F. & A. Last paid Aug. 1,1884 Aug., 1888
RR. from Bellows Falls to Windsor, Vt., 26 miles ; total, 50 miles. Con
trolled in the interest of the Connecticut River RR. The Sullivan
County RR. stock is deposited as collateral security for the above
mort, bonds. Earnings, &o., for four years ending March 31, were:
Net Divid’d,
Passenger Freight (ton)
Gross
Years. Miles. Mileage.
Mileage.
Earnings. Earnings. Per ot.
4
18,107,974
1881-82 50 3,481,202
$366,967
$87,187
5
22,622,270
149,526
1882-83 50 4,056,025
407,999
20,864,921
6
1883-84 50 4,555,171
398,614
113,784
20,199,299
110,747
6
1884-85 50 4,246,085
373,598
V ic k s b u r g Sc M e r id ia n .—L ine of R oad .—Vicksburg to Meridian,
Miss.; 140 miles. In October, 1885, the gauge was changed to the
standard 4 feet 8 1 inches. It is mainly owned and controlled by the
«
Ala. N. O. Tex. & Pac. June. Co. The company was unable to earn full
interest, and reorganization was made in 1881. In 1886 the second
mort. interest was to be 5 per cent, then 6 per centjfor thirty-five years.
Preferred stock, $1,940,612; common stock, $3,962,100. Mr. F. S.
Bond was appointed receiver of the company on a small judgment
obtained against it.
For purposes of comparison the following statement is given showing
the operations of the company for three years ending March 3 1 :
Gross earnings—
1882-83.
1884-85.
1883-84.
Passenger receipts................
$167,456
$169,162
$190,215
Freight receipts.....................
303,269
296,973
300,026
Mail receipts.........................
9,246
11,927
9,307
Express receip ts..............
4,813
6,445
5,342
11,065
Miscellaneous........................
8,991
11,095
T ota l............................. .
Working expenses ............... .
$495,851
354,527
$513,884
410,861
$495,603
465,967
Net revenue................
Fixed charges for interest...
Miscellaneous.........................
$141,324
$93,000
752
$103,023
$103,083
10,341
$29,635
$1.04.000
7,633
$93,752
$113,424
$111,633
.Sur. $47,572 Def.$10,402 Def.$81,997
—(V. 40, p. 715 ; V. 41, p. 488.
V ic k s b u r g S h r e v e p o r t Sc P a c i f i c .—From Delta. La., on Missis
sippi River, to Shreveport, 169 miles, and extension to Texas State Line.
20 miles (the latter leased to Tex. &Pac.); total, 189 miles. The company
was chartered as Vicksburg Shreveport &Texas, and opened from Delta
to Monroe, La., in 1861; the rest of the line to Shreveport was not
opened till 1884. The old road was sold in foreclosure Dec. 1, 1879,
and reorganized under present title. The stock is $3.000,000, of which
the Ala N. O. & Texafe Pacific Junction RR. Co. holds $1,594,000, and
controls this company, also holding $3,692,000 of the 1st mortg. bonds
and $1,931,000 incomes. In 1885 it was voted to issue the above prior
lien bonds for improving the road bed, completing the transfer across
the Miss. River, &c. Gross receipts for 1885, $448,800, (V. 41, p. 746.)
V ir g in ia M id la n d .—Line of R oad .—
From Alexandria to Gordonsville, 88 miles; Warrenton Branch, 9 miles; Charlottesville to
Lynchburg, 60 miles; Lynchburg to Danville, 63 miles; Pittsville
Branch, 9 miles; Manassas Junction to Harrisonburg. 114 miles (of
which 49 miles leased to Balt. & Ohio); Front Royal Branch, 1 mile;
total owned, 347 miles. Leased. Orange C. H. to Charlottesville, 28
m iles; Pittsville to Rooky Mt., 30 miles; total leased, 58 miles. Total
owned and ieased, 405 miles, of which 51 miles, Strasburg Junction to
Harrisonburg, is leased to the Balt. & Ohio, leaving 354 miles operated.
The Washington City Virginia Midland & Great Southern was a con
solidation (November, 1872) of the Orange Alexandria & Manassas and
Lynchburg & Danville railroads. The Orange Alexandria & Manassas
was a consolidation (June 1,1867) of the Orange & Alexandria and the
Manassas Gap. The Washington City Virginia Midland & Great South
ern was put iuto the hands of a receiver July 1, 1876, interest being in
default, and was sold in foreclosure May 13,1880, and after litigation
sold again Deo. 20,1880. Reorganized as Virginia Midland, ana bonds
and stock issued as above.
In April, 1886, a lease of this road was made to the Richmond & Dan
ville on the basis of a guarantee ot the fixed charges and the payment
b y the lessee of any balance of net earnings to the Va. Midland Co.
Of the above bonds, the first series is a first lien between Alexandria
and Gordonsville, including lease of Charlottesville & Rapidan Railroad
and the Warrenton Branch; the second series is a second lien between
Alexandria and Gordonsville, including Warrenton Branch and lease of
Charlottesville and Rapidan R R., and a first lien between Charlottesville
and Lynchburg; the third series is a third lien between Alexandria and
Gordonsville, including Warrenton Branch and lease of Charlottesville
& Rapidan RR., and a second lien between Charlottesville and Lynch
burg; the fourth series is a fourth lien between Alexandria and Gordons
ville, including Warrenton Branch and lease of Charlottesville & Rapidan
RR., and a third lien between Charlottesville and Lynchburg; the fifth
series is a first lien between Manassas Junction and Harrisonourg, in
cluding Front R oj al Branch and lease of road from Strasburg to Harrissonburg to the B. & O. RR., and a fifth lien between Alexandria and
Gordonsville, including Warrenton Branch and lease of Charlottesville
& Rapidan RR., and a fourth lien between Charlottesville and Lynch
burg; the sixth series is a first lien between Lynchburg and Danville,
Including Pittsville Branch and lease of Franklin & Pittsylvania R R .,
and a sixth lien on lease of Charlottesville & Rapidan Railroad. The income mortgage bonds were issued to retire 1st and 2d preferred
stock; the interest is strictly cumulative, and secured bv the mortgage,
and in July, 1885, the coupon due July, 1884, was paid. These bonds
are to be changed into a general mortgage bond bearing 5 p. c. interest.
The annual report for 1884-5 was in V. 42, p. 214. Earnings for the
years ending September 30 were:
MUes.
eipts. ODerat’g exD’ses.
Gross receipts. Operat’g exp’ses. Net receipts.
1881-82 .. .
$1,491,921
$546,804
$945,116
1882-83 .. . !
354
1,664,204
708,009
956,191
1883-84 . . .
354
1,625,830
626,612
999,217
1884-85 .. .
354
1,554,375
990,432
563,943
$ In 1882-83 $119,908 in addition to above expenses were spent for con
struction, &c.; in 1883-4, $198,841; and in 1884-5, $89,835. (V. 40, p.
764; V. 42, p. 2 1 4 , 488.)
« V i r g i n i a Sc T r u c k e e .—Reno, Nev., to Virginia, Nev., 52 miles;
The bonds are payable $100,000 per year. Gross earnings in 1883
were $705,224; net, $294,174; dividends, $142.500. In 1884 gross
earnings, $711,408; net, $325,001; dividends, $210,000. While the
nominal stock is $6,000,000 the reports say that the amount of paid-up
capital is not known in consequence of the destruction of the books
by fire several years ago. D. O. Mills, President.
W a b a s h St. L o u is Sc P a c i f i c .—(Formerly operated by Mo. Pacific.)
number of miles of road operated December, 3 1 ,
*-884, was as follow s: East of the Mississippi River—Toledo to Decamiles; Decatur to East St. Louis. 2 0 9 ; Camp Point to Quincy,
2 2 ; Decatur to Camp Point, 1 2 9 ; Bluffs to Hannibal, 48; Maysville to
Pittsfield, 6 ; Clayton to Elvaston, 3 5 ; Edwardsville to Edwardsville
Junction, 9 ; Detroit to Logansport, 2 0 6 ; Michigan City to Indianap
olis, 1 6 1 ; Attica to Covington, 1 5 ; West Lebanon to Leroy, 7 6 ; Tilton
|o»t. Francisville, 1 0 9 ; Vincennes to Cairo, 1 5 7 ; Bates to Grafton, 7 1 ;
Champaign to Sidney, 1 2 ; Peoria to Jacksonville, 7 5 ; Springfield to
Havana, 44; Streator to Fairbury, 3 1 ; Strawn to Altamont, 1 1 7 ; Shumway to Etfingham, 8; Strawn to Chicago, 9 9 ; Champaign to Havana, 1 0 0 ;
White Heath to Decatur, 3 0 ; State Line to Keokuk, 2 2 2 ; Hamilton to
Warsaw,. 5; La Harpe to Burlington, 2 0 ; total east of the Mississippi,
2 ,3 0 5 miles. West of the Mississippi—St. Louis to Kansas City, 2 7 7
miles; St. Louis Levee to Ferguson Junction, 10; Centralia to Colum
bia, 2 2 ; Glasgow to Salisbury, 1 5 ; Moberly to Ottumwa, 1 3 1 ; Brunswick
to Council Bluffs, 2 2 4 ; Roseberry to Clarinda, 2 1 ; Lexington June, to St.
Joseph, 7 3 ; West Quincy to Trenton, 1 3 4 ; Keokuk to Humeston, 1 3 1 ;
Relay to Albia, 2 4 ; Des Moines to Fonda, 1 1 5 ; Albia to Des Moines,
6 7 ; total west of the Mississippi, 1 ,2 4 3 miles. Grand total east and west,
3 ,5 4 9 miles, of which 8 0 2 miles were leased roads.
[Many leased lines were dropped in 1885, and in Dec. 1885, the
mileage operated w as reported as 2,373 against 3,518 Deo. 1,1884.]
Organization. Leases, & c .—The Wabash St. Louis & Pacific was
formed Nov. 7,1879, by a consolidation of the Wabash and the St. Louis
Kansas City & Northern roads and their branches. The Wabash Com
pany was organized Jan. 1,1877, as successor of the Toledo Wabash &
Western, which company was formed June 25,1856, by a consolidation
of several companies, and defaulted on its interest in 1875 and was fore
closed June 10, 1876. The St. Louis Kansas City & Northern was
formed in 1871 as successor of the North Missouri Railroad, which was
sold in foreclosure August 26,1871.
In April, 1883, the Wabash St. Louis & Pacific was leased for 99 years
to the St. Louis & Iron Mountain (and thus to the Missouri Pacific), on
the general basis of paying over to the Wabash its net earnings each year.
In May, 1884, Messrs. Solon Humphreys and Thos. E. Tutt were
appointed receivers on the company’s own apDlication in view of the
prospective default June 1 on the general mortgage bonds. Receiver’s
certificates were to be issued if authorized for $4,200,000, of
which $2,183,000, to take up notes endorsed by Messrs. Gould,
Humphreys and others, were of inferior lien, and were finally taken up
by leaving to the said endorsers the $2,700,000 of collateral trust bonds
held by them as security. The decree of foreclosure was made in Jan
uary, 1886, the road to be sold April 26,1886.
The plan of reorganization was published in the C h r o n i c l e , V. 4 0 ,
p. 571, and, as afterward modified, in V. 41, p. 300, providing for the
issue of $30,000,000 new debenture bonds, to be disposed of as there
stated; also the following points:
Upon receipt of the new debenture bonds, the holders of general mort
gage and collateral trust bond certificates are to pay two per cent in
cash on the face of the new bonds, for which they will receive debenture
bonds or scrip.
After the formation of the new company, the Purchasing Committee
will offer the new stock to the stockholders of the Wabash St. Louis &
Pacific Railway Company, at the rate of eight dollars per share on pre
ferred, and six dollars per share on common stock, who, for the amount
so paid, will be entitled to debenture bonds, or scrip, dollar for dollar,
in addition to the shares in the new company.
The bondholders agree to take any stock and debenture bonds not
accepted by stockholders, upon the same terms, pro rata, the amount,
however, not to exceed five per cent on the face of their bonds.
The debenture mortgage bondholders are to have equal representation
with the stockholders of the new company ia the board of directors.
- L i n e o f R o a d .— The
A
p r il ,
1886. J
RAILROAD STOCKS AND BONDS.
9 a
Subscribers w i l l confer a great fa v or by g iv in g im m ed ia te n otice o f a n y error discovered in these T a b les.
________________ DESCRIPTION.________________
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount Rate per When Where Payable, and by pal, When Due.
For explanation of column headings, &o., see notes of
of
Par
Stocks—Last
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable
Whom.
Dividend.
Wabash, St. Louis < Pacific—( Continued) —
&
Wabash, 1st mort. (Quincy & Toledo)....................
33 1865 $1,000
7
M. * N. Last paid Nov. 1,1884 Nov. 1 ,1 8 9 0
$500,000
do
1st mort. (Ill & So. Iowa) extended.......
29 1862 500 &c.
6
F. & A. Last paid Aug. 1,1^84 Aug. 1, 1912
300,000
do
2d mortgage (Toledo & Wabash).............
75 1853 250 &c.
7
M. & N. Last paid Nov. 1,1884 May 1. 1893
1,000,000
do
2d mortgage (Wabash & Western)..........
167 1858 100 &c.
7
M. & N. Last paid Nov. 1,1884 May 1, 1893
1,500,000
do
2d mortgage (Great West, of 1 8 5 9 ).......
180 1865
1,000
7
M. & N. Last paid Nov. 1,1884 May 1, 1893
2,500,000
do
Consol. M., (on all but Dec. & E St.L.).. 490 1867
1,000
7
Q .-F . Last paid Nov. 1,1884
2,610,000
Feb., 1907
do
1st mort., (Decatur & E. St. Louis)____
109 1869
1,000
7
F. & A. Last paid Aug. 1,1884 Aug., 1889
2,700,000
do
Fund, debt bds. & sc, certs, (seeremarks.) .... 1877 500 &c.
6*7
F. & A. Last paid Aug. 1,1884 Feb. 1, 1907
3,009,675
do
Mort., gold, sink. fd. $25,000 after ’82.. . . . . 1879
1,000
2,000,000
7 g. 4. & O. Last paid Octf. 1,1884 April 1, 1909
Hannibal & Naples, 1st mortgage...........................
50 1879
1,000
7
J. & D. Last paid Dec. 1,1884 June 1, 1909
500,000
St. L. K. C. &No., 1st mort. (North Missouri)......... 354 1865
1,000
7
J. & J.
6,000,000
July 1, 1895
do
real estate & railway 2d mort___
354 1874
1,000
3,000,000
7
M. & S. Last paid Sept., 1885. Sept. 1, 1895
do 1st & 2d M.on St. Char.Bridge,coup.or rg
1878
1.000
1,388,500 6 & 7 g. A. & 0.
1903-1908
do 1st M., Omaha Div., gld, s. f., coup.or rg 146 1879
1,000
2,350,000
7 g- A. & O. Last paid Oct. 1,1884 April 1, 1919
do 1st mort., gold, Clannda Branch . . . . . .
22 1879
1,000
264,000
6 g. F. & A. Last paid Aug. 1 ,18»4 Aug. 1, 1919
Toledo Peoria & West., 1st m ortgage..................... 237 1880
1,000
7
4,500,000
Q .-J . Last raid April, 1884
Oct. 1, 1917
do
1st pref. income, conv., int. guar..
1880
4 • J. & J. Last paid Jan., 1884
1,000
1,189,000
utocy Mo. & Pacific, 1st mort., gold (int. guar.). Ì36 1879
1,000
1,204,000
6 g. J. & J. Last paid Jan. 1,1884 Oct. 1, 1909
entrev. Moravia & Alb. R R ., 1st mortgage........
24
6
400,000
J. & J. Last paid Jan. 1,1884
Feb.. 1920
Chicago Cincinnati & Louisville, 1st mortgage...
73 1867 50Ö&C.
7
J. & J. Last paid Jan. 1,1884
1,000,000
Jan., 1887
Ware River—Stock (guaranteed).................................
49
100
750,000
313 J. & J. Boston, Bost.& Alb. RR Jau. 6 , 1880
Warren (N.J.)—Stock.................................. .......... . .
18 1855
50
1,800,000
313 A. & O. N.Y., Del., L. & W. RR. April, 1886
2d mortgage, now 1st...............................................
18 1870
100
7
A. & O.
750,000
do
do
April 1, 1900
1st consol, mortgage................................................
18 1875
M. & S.
7
600,000
do
do
M archi. 1905
Washington City < Pi. Lookout—1st M. bonds gold.
6
12 1873
6
....
540,000
J. & D. Baltimore, Balt.& O.RR.
1903
1st mort.. gold (for $2,000,000)..............................
1880
....
6
1,000,000
Nov. 1, 1900
West Jersey—Stock..... ...........................................
186
3
50
M. & S. Phila., Pa.RR.Co. Office Marchiò ,1886
1,485,650
1st mortgage loan........................ ............................
38 1866 500&C.
6
1,000,000
J. & J.
do
do
Jan., 1896
1st
do
consolidated.......................................
63 1869 500 &c.
A & O.
..
1,000,000
7
do
do
Oct.. 1899
Consolidated mortgage.............................................
128 1879 500 &c
6
M. & N.
748,500
do
do
Nov., 1909
Ocean City RR. bonds........ ...................... ...............
F. * A.
....
6
....
100,000
do
do
Aug., 1925
8
,
LEASED LINES.
[While the Wabash has been in a transition state prior to sale in fore
closure, t ie various branches and leased lines have been left under its
title in the S u p p l e m e n t as the status of those broken off from th<
company is not in all cases clearly defined yet.l
On a number of the auxiliary lines foreclosure proceedings have beei
commenced and are now pending. The receivers are paying interest or
some of the old bonds of the company a few months after the datee
when due. An exhibit of the earnings and charges of the numerous
leased lines shows that few are earning their full charges, but such ar
exhibit may be misleading, inasmuch as "the earnings over the main road
from business derived from some of the leased lines can easily make
them profitable to hold. The receivers’ statement of net earnings on
different lines was in the C h r o n i c l e , V. 4 2 , p. 2 1 7 .
By order of the Court several of the leased lines have been restored to
their owners and placed in the hands of separate receivers, including
the Cairo Division, operated by A. J. Thomas, receiver, and now known
as Cairo Vincennes & Chicago, the issue of enough receiver’s certi
ficates having been authorized in August. 1885, for steel rails and
equipment; the Toledo Peoria < West., operated by the mortgage trus
&
tee ; the Havana Division—Havana Rantoul & East.—operated by the
mortgage trustee; Quincy Missouri & Pacific; Missouri Iowa v Nebraska
Thos. Thatcher, of New York, receiver; and a foreclosure suit has been
begun on the Omaha Division of the 8t. L. K. C. & N. (See full state
ment of probable status of leased lines, &c., after foreclosure, in V 41
p. 746.)
Joint obligations with the Missouri Pacific Railway Co. on account of
the lease of the St. Louis B ridge* Tunnel Railroad, datedJuly l, 1881 are
stated under the title of St. Louis Biidge & Tunnel RR. among “ Miscel
laneous Securities” in this Supplement.
The Centrev. Mor. & Albiais leased in perpetuity; rental, interest on
bonds. The Des Moines Northwest, is leased for 99 years from Feb 28
1881; rental, interest on bonds, any surplus of net earnings after such
payment to go to stockholders. The Des M. &St. L. RR. is Teased in per
petuity; rental is interest on bonds.
*
The Toledo Peoria & War. company made default Dec., 1873, and was
operated by a Receiver until sold m foreclosure on Jan. 20 1880 It
was purchased by a committee of bondholders for $6,000,000, and re
organized as Toledo Peoria & Western. This company made a lease for
tne term of its charter to the Wabash St. Louis. & ^Pacific on terms as
follpw s.viz.: That *he Wabash Pacific guarantee 7 per cent on the
$4,500,000 first mortgage bonds of the Toledo Peoria & Western
The .$2,900,000 income bonds to be guaranteed at 4 per cent
and to be convertible at par for Wabash St. Louis & Pacific common
ftoek. The $1,000,000 second preferred income bonds were S so c o r n n
ible mto Wabash preferred stock, share for share. The Toledo Peoria *
Western stock ($3,000,090) was changeable into Wabash common stock
three shares for one. Since the default of Wabash in July, 1884, the
bondholders of this road are taking measures to protect themselves and
foreclosure proceedings were commenced in March, ’85. See V. 40, p. 30s!
Stocks and Bonds.—P r e f e r r e d s t o c k h a s a p r i o r r i g h t t o 7 p e r c e n t
( n o n - c u m u la t i v e ) ; t h e n c o m m o n t o 7 ; t h e n b o t h s h a r e i n a n v s u r p lu s
P r i c e s o f s t o c k s i n c e 1 8 7 9 h a v e b e e n : C o m m o n i n 1 8 8 0 2 6 Li'® 4 ftJn 1 8 8 1 , 3 3 i 4 @ 6 0 ; l n 1 8 8 2 , 2 3 5 8 @ 3 9 7 8 ; i n 1 8 8 3 , 1 5 @ 3 6 % - t o l 8 3 4
4 @ 1 9 % ; t o 1 8 8 5 , 2 ® 1 5 1s ; t o 1 8 8 6 t o A p r i l 1 6 , 8 'o>123q P r e f e r r e d in
1 8 8 0 , 5 1 5 4 @ 8 8 3 8 ; to 1 8 8 1 , 6 4 i* @ 9 6 i4 ; in 1 8 8 2 , 4 5 7 s ® 7 1 5 o • t o 1 8 8 3
1 6 l6 ® 2 2 l a ; 111 1 8 8 4 ’ 9 @ 3 2 ;
™ 1 8 8 5 ' 6 l8 ® 2 5 ;
in
1 8 8 6 to A p ril 16i
The trustees of the general mort. for $50,000,000 are the Central Trust
Co. of N.Y. and J ames Cheney of Indiana. The mort. may be foreclosed
after six months default of interest, if a majority to value of all the bond
holders so request the trustees. First mort. on St. Charles Bridge is for
$1,000,000, and is 6 per cent now, running absolutely till 1908
The amount of funded debt bonds of 1877, due 1907 as above given
includes the scrip certificates for coupons funded and deposited to trust’
which certificates amounted January 1,1883, to $1,014,453, and are
int<? ttj6 bonds. _ If not exchanged the certificates fall due
with the principal of the bonds from which coupons were cut.
- T h e collateral trust bonds of 1883 were issued for floating debt.
n)Jre a^Ha^ailT
Louis Iron Mountain &
Southern RR. Co., and in 1884 a mortgage was recorded on all the
Wabash property for $10,000,000 to the ft. Lotos Iron Mt & Southern as
security lor this guarantee.
The old Toledo & Wabash equipment bonds of 1862 ($600,000) were
Irinee1874 mnWri’/ $1,100,110, lle“ ,aS
.ain8t this company, with
8inc6 1874, malang« ! 8 1 of?vm * and judgment was so fvntprpd in interest
> .
qj
but on appeal to & e U. S. Supreme fcomt thejud|ment was^reversed ’
Operations, Finances, & c.-T h e Wabash St. Louis & Pacific extended
its lines very widely m the years 1879 to 1882 (under the presidency of
Solon Humphreys), by the acquisition ot branch and connecting
roads, and thereby assumed heavy liabilities. Although th eearn togf
increased largely, the annual ¿abilities were still far in excels
o f the net profits. The road was operated in close connection wtth the
Gould Southwestern system running into St. Louis, and the formal lease
to the St. Louis & Iron Mountain Company placed the Wabash to com
244; interest on bonds, $2,859,399 ; interest on floatin g debt, $137,984;
taxes. *444,971; extraordinary expenses and equipment account. $698,1 « 4 ; pool account, etc., $82,113; profit and loss, $516,004; total,
$5,296,845. Deficit, $2,001,206; deficit for 1883, $1,073,581; total
deficit Dec. 31,1884, $6,074,791. The general balance Dec. 31,1882.
1883 and 1884, was as follows :
The operations and fiscal results for three years were as below :
OPERATIONS AND FISCAL RESULTS.
1882.
1883.
1834
Total miles operated............
3,518
3,566
3,582
Operations—
Passengers carried...............
4,251,393
3,905.665
4,046,577
Passenger mileage................ 166,198,560 154,727,718 154,700,993
Rate per passenger per mile
2-373 cts.
2 498 cts.
2-366 cts.
Freight (tons) moved............
5,911,012
5,859,566
6,358,761
Freight (tons) m ileage........ 1,247,611,320 1,263,790,523 1,373,842,462
Av’ge rate per ton per mile.
0-951 cts.
0-948 cts.
0 857 cts.
Earnings—
$
$
$
Passenger..............................
3,944,520
3,865,753
3,659,909
Freight.............................. .
11,885,226
11,979,747
11,775,634
Mail, express, &c..................
1,021,943
1,069,621
1,226,060
Total gross earnings....
Operating exp’ses & txs.
16,851,689
12,240,259
16,915,121
13,330,926
16,661.603
14,051,274
Net earnings...................
Per ct. of expens to ea rn ....
4,611,431
72-64
3,584,195
72-64
2,610,329
84-33
INCOME ACCOUNT.
Receipts—
Net earnings.........................
Other receipts.......................
1882.
$
4,611,431
328,760
1883.
$
3,584,195
452,566
1884.
$
2,610,329
240,339
Total income...................
Deduct—
Rentals paid..........................
Interest on debt....................
4,940,191
$
987,608
4,302,006
4,036,761
$
1,144,453
4,399,716
2,850,668
$
828,244
2,727,34S
Total................................
Deficit, after tot.and rentals
5,289,614
349,423
5,544,169
1,507,408
3,555,592
704,924
The report of this company for the year ending June 30, as filed with
the Ohio Railroad Commissioners, presented the following comparison:
Earnings—
1884-85.
1883-84.
Changes.
F reigh t..........
$11,382,344
$12,170,851
Dec. $788,507
Passenger___
3,574,766
4,796,737
Dec. 1,221,971
Miscellaneous
1,166,415
557,810
In c.
608,605
Total........................ $16,123,525
Operating expenses___ 13,851,524
$17,525,398
13,613,206
Dec. $1,401,873
In c.
238,318
Net.......................
$2,272,001
Intei-est, rentals, A c..........................
$3,912,192
5,662,619
Deo. $1,640,192
..................
Deficit............................................
$1,750,427
............. .
Net unfunded d e b t. . . . $12,185,811
8,592,285
I n c . $3,593,526
Passengers carried. . . .
3,910,693
3,831,81 L
In c.
78,882
Freight, tons................
6.285,264
6,218,358
In c.
66,906
—(V. 40, p. 153, 184, 241, 270, 305, 337, 338, 364, 394, 427, 482, 510.
570, 617, 653, 686, 718, 742 ; V. 41, p. 43, 103,190, 243, 300, 307 3 3 1.
3 5 6 ,357,472,473,528,556,558,586,613, 746 ; V. 42, p. 23, 52. 94.
126, 188, 217,234, 305, 332, 339, 397, 463, 479, 488.)
W a r e R iv e r.—Palmer, Mass., to Wtochendon, Mass., 49 miles. It
is leased for 999 years to the Boston & Albany Railroad at a rental of 7
per cent per annum. J. A. Rumrill, President, Springfield, Mass.
W a r r e n , N. J .—Line of road, New Hampton Junction to Delaware
Bridge, N. J., 18*4 miles. The road is leased to Delaware Lackawanna
& Western at 7 per cent on stock and bonds. Gross earnings, 1884
$496,744: net, $225.972. John I. Blair, President, Blairstown,N. J.
W a sh in g to n City & P o in t L o o k o u t.—Hyattsvllle, Md., to
Shepherd, Md., 13 miles, and to be extended. This road was opened in
1873. It is leased to the Baltimore & Ohio for $38,000 gold per
annum. The stock paid to is $1,000,000. Same ofllcers as Baltimore St
Ohio Railroad.
W e st J e r s e y .—Mato line and branches—Camden to Cape May,
Bridgeton, Riddleton, Sea Isle and Ocean City, 132 miles ; leased lines
35 toiles ; West Jersey & Atlantic Railroad., 34 miles ; total, 200 miles
onerated.
F S h W a b a lto he M1S80Url Paciflo pri«r to the aP P o i n ^
Gross earnings
Jan. 1 to Feb. 28,1886,
The income account for the year 1884 showed the following- Gross $127,065 in 1 8 -5 ; from $34,231, against $25,952.were $132,520, against
net,
earnings, $16,6bl,602; net earnings, $3,055,299; other receipts *240 T h e annual report for 1885 w a s published to the C h r o n i c l e o f April
339; total net income,¡¡$3,295,638. The payments w ere: Rentals) $828,’- 24. Income account for four years was as follow s:
RAILROAD STOCKS A N D
94
BONDS.
[V o l . X L I I ..
Subscribers w ill confer a great favor by giv in g im m ediate notice o f any error discovered in these T ables.
Bond«—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due.
Miles Date Size, or
Amount
Par Outstanding Rate per When Where Payable, and by Stocks—Last
of
of
For explanation of column headings, &c., see notes
Whom.
Cent. Payable
Dividend.
Road. Bonds Value.
on first page of tables.
"West Jersey «6 Atlantic—1st mortgage.. . .................
Pleasantrville & Ocean City......................................
West Shore—1st M., guar, (for $50,000,000) cp., rg.
West Virginia Central < Pittsburg—1st mort...........
6
Western (Ala.)—Western RR. bonds, before consol..
2d mort.. guar, by Cent, of Ga. and Ga. RR. & B. Co.
Western Atlantic (Ga)—Income bonds....................
Western Maryland—1st mort., endorsed Balt. City..
1st mortgage, unendorsed........................................
2d
do
endorsed by Baltimore.....................
2d
do
endorsed by Washington County ..
2d preferred mortgage, unendorsed.......... ............
3d mortgage, endorsed by Baltimore.....................
4tb
do
endorsed by Baltimore.....................
Western North, Carolina—1st mortgage....................
Consol mortgage........................................................
Western Pennsylvania—1st mortgage........................
1st mortgage, Pittsburg Branch.............................
Registered bonds......... .............................................
While Water—Stock ($325,000 of it pref.)...............
Wheeling < Lake E rie—1st M., gold ($15,000 p. m.)
&
i d mortgage...............................................................
fti'.mingion Columbia (6 Augusta—S tock .................
l t t mortgage................. .......................................... Wilmington < Northern—Stock..................................
£
Wilmington < Weldon—Stock.....................................
£
Sterling bonds........ ..................................................
Sinking fund bonds, g old ..........................................
Mortgage for $4,000,000........... ....................... ...
34
448
44
160
138
90
90
90
90
90
90
90
130
189
57
28
65
188
188
227
87
222
200
....
1880 $1,000
100 &c.
1885 l.OCO&c
1868
1870
1873
1858
1858
1867
1867
1868
1870
1872
1,000
1,000
100 &c.
500 &c.
500 &c.
500 &c.
500 &c.
500 &c.
1881
1863
1865
1883
1,000
500 &c.
100 &c.
1,000
1879
1882
1,000
3,000
1880
100
....
1885
. .. .
$400,000
80,000
(?)
1,100,000
340^000
1,171,000
513,000
200,000
400,000
300,000
300,000
600,000»
875,000
1,000,000
850,000
3,100,000
800,000
1,000,000
2,500.000
1,300,000
2,850,000
2,280,000
960,000
1,600.000
1,278,050
2,082,400
221,400
936,000
(?)
6
6
4
6
8
8
10
6
6
6
6
6
6
6
7
6
6
6
5
M. & S. Phila., Fidelity I. T. Co. Sept. 1, 1910
J. & J. Phila., Perm. RR. Office. July 1, 1910
New York.
J. & J.
Jan. 1, 2361
A. & O. N. Y., Nat. City Bank.
do
do
A. & O.
Atlanta, Co.’s Office.
Q—J.
J. & J. Balt., N. Mechanics’ B’h
do
do
J. & J.
J. & J.
do
do
Hagerstown, Md.
J. & J.
J. & J. Balt.,N. Mechanics’ B ’k
J. & J.
do
do
M.
J.
A.
J.
J.
& N.
& J.
& O.
& J.
& D.
Oct. 1. 1888
Oct. 1, 1890
Oct. ’79 to ’91
Jan. 1, 1890
Jan. 1, 1890
Jan., 1895
Jan., 1895
Jan., 1895
Jan., 1900
Jan., 1902
Raleivh, N. C.
May 1, 1890
New York Agency.
Jan. 1, 1911
Philadelphia, Penn. RR. A p r ili, 1893
do
do
Jan. 1, 1896
do
do
June 1, 1923
6 g. M. & N. Last paid May, 1883. Nov. 1, 1909
M. & S. Last paid March, 1883.
7
1912
3
J. & J.
Baltimore.
Jan. 10,1886
J. & D. N. Y. and Baltimore.
6
June, 1910
J. & " .
d
4
Jan. 15,1886
7 g. M. & N.
London.
1886
7 g. J. & J. N. Y.,Bost. ,Lond.,Frank
1896
....
gomery & West Point RR. due May 1, 1888. The gross earnings in
1883-84 were $457,597; net, $241,671.
1885.
$
Receipts—
W e ste rn Sc A tla n tic .—Atlanta, Ga., to Chattanooga, Tenn., 138
476,617 miles. Built by State of Georgia and opened in 1850, and by an act o f
Net earnings........................
14,008 October 24,1870, was leased to a company for twenty years at a monthly
Other receipts.....................
rental of $25,000.
490,625
515,271
441,896
Total income.................. 454,667
W estern M a ry la n d .—Line of Road—Baltimore to Williamsport,
$
$
Lisbursem ents—
$
$
Md., 90 miles; Eminitsburg Branch, 7 miles; Edgemont to Shippens39,098 burg, Pa., 34 miles; total, 131 miles. The capital stock is $682,050.
41,270
33,034
36,571
Rentals paid........................
175,174 Fhe company was largely assisted by the city of Baltimore, and
175,174
178,888
Interest on West Jer. debt.. 177,118
81,990 was unable to pay all its interest. A compromise was made with
90,668
73,075
Net earn.of W.J.&A.RR.,&c 57,775
89,113 the preferred second mortgage bondholders for funding coupons. In
85,232
87,788
82,807
Dividends.............................
6 p. c. 1886 the company proposed that Baltimore city should pay off the
6 p. c.
6 p. c.
Rate of dividend.................. 6 p. c.
$l,800,u00 bonds embraced in the first five lines of the table above and
385,375 issue its own 4 per cent bonds, taking a mortgage on the railroad prop
394,900
350,734
373,766
Total disbursements—
105,250 erty as security.
120,371
103,933
68,130
Balance, surplus..................
The Baltimore & Hanover RR. was completed to its connection with
—(Y. 40, p. 184, 4 5 2 ; V. 41, p. 243 ; Y. 42, p. 23, 138.)
this road in 1880. The Western Maryland operations for three years
W e s t Jersey & A tla n tic .—Newfleld, N. J., to Atlantic City, N. J., have been as follows, but in 1878-79 the construction account was
34 miles ; Pleasantville & Ocean City RR., 7 miles ; total, 41 miles closed and all expenses charged to operating expenses, on which basis
Opened June 17, 1880, and operated by West Jersey Railroad on a net earnings have since been relatively decreased.
Passenger
Freight
Gross
Net
oint traffic agreement and 25 per cent of gross receipts on West
Miles.
Mileage.
Mileage. Earnings. Earnings.
ersey from traffic of this road to be applied to any deficit in interest
and then as sinking fund for bonds purchasable at 105, or drawn if L882-83............ 131
16,201,680 12,876,711
$654,163 $254,175
16,512,178 13,114,956
665,995
258,245
over that. In 1884 net earnings were $83,286. Stock is $706,550. 1883- 84.........131
Two per cent dividend paid in July, 1884, three Jan. 1, 1885, two 1884- 85.........131
14,602,158 11,670,486
619,217 232,135
-(V . 41, p. 603.)
September, 1885, and three March 15,1886.
W estern N o r t h C arolin a.—Owns from Salisbury, N. C., to Paint
W e s t Shore.—Line of road from Weehawken, N. J., opposite N. Y.
City, to Buffalo, N.Y., with branches to Albany City and Rochester City, Rock, Tennessee State line, 190 miles; Asheville to Pigeon River, 20
miles; total, 210 miles. The road was financially embarrassed, and was
about 472 miles in all. This company was organized in December, 1885,
as successor to the N. Y. West Shore & Buffalo, sold in foreclosure. Mr. purchased April 17, 1875, by commissioners for the State of North
J. Hood Wright, a partner in the banking house of Drexel, Morgan & Carolina, and subsequently finished by the Richmond & Danville Ter
Co., is President of the new company, Ashbel Green is Yice-President minal Railway & Warehouse Company, and is operated as a part of the
ana F. E. Worcester is Secretary. The board of directors for the first Richmond «fc Danville s ’ stem. In 1883-84 gross earnings, $435,069;
year was as follows : Ashbel Green, Tenafly, N. J. ; Charles Lanier, n e t,$141,583. Stock, $4,110,000 com. and $4,000,000 pref. A second
fc
Edward King, Edward D. Adams, J. Hood Wiight, Charles H. Coster, consol, mortgage for $4,110,000 is held by the R. < D. Ter. R. & W. Co.
George S. Jones, Howard Mansfield, Herbert E. Kinney, Charles Edward
W estern P en n sy lv an ia .—The road runs from Bolivar to Alle
Tracy, George W. Knight, Francis Brown, New York City, and Joseph ghany City, Pa., 63*2 miles; branch to Butler, Pa., 21 nines; total, 8413
P. Ord, of Englewood, New Jersey.
miles. Completed in 1865 and branch in 1870. A new lease to tire
Immediately on its organization the new West Shore Company issued Pennsylvania Railroad for 30 years was made in 1883, and an issue of
10,000,000 of capital stock, and made an authorized issue of $50,000,- $5,000,000 consolidated bonds was authorized. The Pennsylvania Rail*
-OOO of 5 per cent bonds. A lease of the West Shoi;e property to the New road, lessee, owns $993,050 stock out of the total amount of $1,022,450
York Central Company for 475 years was executed in compliance with and $288,000 of branch bonds. Gross earnings in 1885, $1,159,514
the plan of reorganizatii n. The $10,000,000 of stock was handed over net, $177,981.
to the New York Central Company in consideration of that company’s
Wh
.—Valley Junction, O., to Cambridge
guarantee of the principal and interest of the $5o,000,000 of new bonds. miles. ite W a te rformerly the White Water Valley, sold City, Ind., 65
This
in foreclosure
The mortgage is made to the Union Trust Co., as trustee, and covers May 2,1878, was reorganized under this title. Gross earnings in 1882and
the line of road. Weehawken to Buffalo with branches, 448 miles in all, 83, $104,234; deficit, $5,979. Elijah Smith, President.
and also the terminals at Weehawken by ownership of all the stock and
bonds of the Terminal Company. The guarantee of the N. Y. Cent. &
W h e e lin g Sc h ak e E rie.—Road under construction—Wheeling. W.
Hudson is absolute as to interest and principal and is endorsed on each Va., to Toledo, O., 205 miles, and branch, Norwalk to Sandusky, O., 21
bond. A review at much length of the status of the new West Shore miles. In 1883,170 miles were in operation from Toledo to Valley Junc
bonds was in the Chbonicle, V. 42, p. 176.
tion, O., and the branch from Norwalk to Huron, O.; extended 10 miles
The statement of the New York West Shore & Buffalo Co. for the year to Sharrodsville in 1884, and 8 miles further to Bowerston in 1885;
ending Sept. 30 had the following:
total, 188 miles. In 1884 company was embarrassed. Foreclosure
1884.
1885.
begun in July, 1884, and M. D. Woodford appointed receiver. The road
Gross earnings..................................................$1,297,984
$1,101,931 was to be sold April 23, 18S6. Gross earnings in 1885 $549,549; net
Operating expenses....................................... 1,213,720
1,212,851 $ 112,97.'. John P. Kennedy, President, New York City. (V. 41, p. 43;
V. 42, p. 94, 157, 488.)
Net earnings.................$84,269 defle.$l 10,920
W ilm in g to n C olu m bia Sc A u g u sta .—Owns from Wilmington,
Total income (including miscellaneous).
$87,337 deflc.$l 10,920 N. C., to Columbia, S. C., 189 miles. Leased jointly, the Central RR,
. £ases, rentals and interest................. ..........
212,390
117,736 of South Carolina, Lane, 8. C., to Sumter, S. C., 38 miles. Total oper
ated, 227 miles.
Road was sold in foreclosure, October, 1879, for $860,500, and com
$228,657
Net deficit.................................................. $125,053
pany reorganized under present style.
__ (V. 40, p. 2 7 , 93,182, 338, 363, 394, 406, 425, 454. 481, 508, 542,
In June, 1885, the road and property of this company were leased for
569, 597, 612, 626, 652, 717, 742; V. 41, p. 24. 50, 77,102, 133,190, 99 years to the Wilmington & Weldon, the lessee to pay all interest and
216, 242, 273, 337, 357, 393, 420, 424, 527, 612, 613, 653, 654, 689, fixed charges and 6 per cent dividend on the stock, payable semi-annu
746; V. 42, p. 23, 156,176, 305.)
ally in January and July. In 1884-85 net receipts were $242,534; the
% W est V a . Central & P ittsb u rg—A coal and railroad company in surplus income over interest and dividends was $88,934; in 1883-84
> West Virginia in the upper Potomac region—the Elk Garden Coal Field. similar surplus, $58,720. (V. 41, p. 687.)
^ November, 1884, in operation from Piedmont, W. Va., to Davis, W. Va.,
W ilm in g to n Sc N orth ern .—Owns from Wilmington Del., to
^58 miles: Brancil SIlPW, W. Va.* to Mineville, 2 m iles: total, 60 miles. Birdsboro, Pa., 64 m iles; branches, 24 miles; total owned 87 miles;
r T n v f l i t on coal sales $41,038; net on railroad, $56,254: trackage leased, 5 miles; total operated, 92 miles. This company
i ^ 8*97 292P In 1884? net profits on coai sales, $57,523; net from was organized Jan. 18,1877, as successor to the Wilmington & Reading
’J s fs S O - total revenue, $114,414; interest paid, $66,000; RR. Co., which defaulted on its interest and was sold in foreclosure Deo.
raU«?,td,<C « i i s Stock. $5,500,000. H. G. Davis, President; S. B. 4, 1876. Has bonds amounting to $228,700 in several small issues.
A
E T k f f ’ vfce-Pre'siden t ; James G. Blaine, W. H. Bamum, and others, Gross earnings in 1884, $346,056; net earnings, $64,452. Paid interest,
$11,456; bonds redeemed, $5,300.
directors.
W ilm in g to n Sc W e ld o n .—Road extends from Wilmington to
A lab am a ,—L i n e o f R o a d —Selma to Opelika, Ala., 116
O p X a to West Point, 22 miles; total, 138 miles, of Weldon, N. C., 163miles; branch to Tarboro, 17 miles; Scotland Neck
SnfftU
miles’ isleased to Louisville & Nashville for $52,000 per Branch, 20 miles; also operates Midland N. C. RR., Goldsboro to Smith2 S i m 50Was a consolidation in 1870 of Montgomery & West Point and field, 22 miles; total, 222 miles; also under construction branch from
Western of Alabama. Sold May 10,1875, in foreclosure and Purchased Wilson to Fayetteville, 70 miles. Was leased November, 1872, to Wil
ioin tlybyth e Georgia Railroad and Central Rafiroad of Georgia. The mington Columbia & Augusta Railroad for 99 years. The lessees made
ivnd income bonds were wiped out m the foreclosure, and the default December, 1877, and the lease was surrendered April 13,1878.
property is represented by the bonded debt and $846,000 due each of the In June, 1885, this company took a lease for 99 years of the Wilming
above companies. There are also $32,000 second mortgage 8s of Mont ton Columbia & Augusta. (See that company above.)
INCOME ACCOUNT.
1882.
$
454,667
J
1883.
$
441,896
1884.
$
503,305
11,966
A p r i l , 1886.]
R A IL R O A D
AN D
CANAL
STO CK S
AND
95
BONDS.
Subscribers w ill confer a great fa v o r by g iv in g im m ed iate n otice o f any error discovered, in these T a b les.
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due.
Miles Date Size or
Amount Rate per Í When Where Payable, and by Stocks—Lata
Par
of
of
For explanation of column headings, &c., see notes
Outstanding Cent. Payable
Dividend.
Whom.
Road. Bonds Value.
on first page of tables.
Wisconsin Central—Consol, mort., land grant, pref.
1st series.....................................................................
2d series, income (not cumulative).........................
Mort. Minn. St. Croix & Wis. R R .............................
Worcester < Nashua < Rochester—S tock ..................
6
6
Bonds, mort, (to be refunded when due at 4 p. c.)
Bonds, m ortgage.......................................................
Bonds, mortgage................................................—
Nashua & Roch., 1st M., gu., conv. into N.& R. st’k
CANALS.
Albermarle < Chesapeake—Mortgage bonds.............
6
Chesapeake < Delaware—Stock..................................
&
1st mortgage (originally $2,800,000).....................
Chesapeake < Ohio—Stock..........................................
&
Maryland loan, sinking fund....................................
Guaranteed sterling loan..........................................
Bonds having next preference................................
Repair bonds, Act 1878............................................
Delaware Division—Stock............. ..............................
1st mortgage (extended 20 years in 1878)............
Delaware dt Hudson—Stock.........................................
1st mortgage, registered.........................................
Debenture loan of 1894, coup and reg................
1st M., coup. & reg., on Penn. Div. ($10,000,000)
Lehigh Coal dt Navigation—Stock...............................
Loan, conv., coup., gold (assumed L. & W. Coal Co)
1st mortgage, reg. (extended at 41
a)......................
1st mortgage, registered, railroad..........................
Mort. loan. g. ($2,810,000 assumed by other co’s.'
326
326
326
104
94
”48
14
14
14
184
184
184
184
"6 0
60
148
148
1879
1879
1879
1884
1,000
100
100 &c.
1873 500 &c.
1875 lOOO&c.
1874 500 &c.
1879
1,000
50
1856 Vario’s
25
. . . . 500 &c.
. . . . 500 «fee.
. . . . 500 &o.
1858
187Ì
1874
1877
1869
1864
1867
1867
50
1,000
100
1,000
1,000
1000& C .
50
500 &o.
Var.
Var.
500 &c.
$360,000
5
3.800.000
5
5.700.000
7
2.600.000
6
3,064,500 17 stock
275.000
5
250.000
5
400.000
5
700.000
5
Boston, Office,
M. & N.
do
J. & J.
do
J. & J.
M. & N. N.Y.,Farmers’ L.&T.Co.
Worcester. Office,
J. & J
do
* do
Various
A. & O. Bost., Globe Nat. Bank,
do
do
F. & A.
do
do
A. & O.
J. & J.
J. & D.
J. & J.
J. & J.
2 , 000,000
"é ‘
Q -J
4.375.000
5
Q -J .
J. & J.
1,699,500
6
J. & J.
314.000
6
F. & A.
2
163,335
J. « s J.
S
6
800.000
Q—Mch.
23,500,000
1*4
J. « s J
S
5.549.000
7
A. <c O.
S
4.829.000
7
M. « c S.
S
5.000. 000
7
J. « c D.
S
12,675,650
2*2
747,000
6 g. M. «fe S.
Q -J .
5.000.
000 4*3
Q -F .
2.000.
000 6
S
4.653.000
6 g. J. « e D.
500.000
2,079,213
1,993,750
3,851,593
7
“ è“
5 p. ct. yearly
1909
1909
1914
Nov., 1885
May 1, 1887
April 1, 1893
Feb. 1, 1895
April 1, 1894
N. Y., Union Trust Co. July 1, 1909
Philadelphia, Office,
July, Í886
do
do
Bait., A. Brown & Sons.
London.
Balt., A. Brown < Sons.
fe
Balt., Farm.<Sc Mech.Bk,
Phila., 226 So. 3d st.
do
do
N. Y., Bk. of Commerce.
do
do
N. Y. Office <cBk.of Com.
S
do
do
Philadelphia, Office,
do
do
do
do
do
do
do
do
1870«
1890*
1885*
1898
Feb. 15, 1886
July 1, 1898
Mar. 15,1886 ,
1891
1894
Sept. 1, 1917 .
Dec. 8 ,1885
1894
July 1, 1914-’
1897
189r
C AN ALS.
The fiscal year ends Sept. 30. The report for 1884-85 was in V. 41,
p. 687.
^ ,
I A lberm arle Sc C hesapeake.—Canal between Chesapeake Bay
Earnings and income account for three years is as follows:
and Albermarle Sound, N. C., 14 miles. Gross earnings 1884-85, $70,000; surplus over interest, $5,000. Pres’t, Marshall Parks, Norfolk, Va.,
EARNINGS AND EXPENSES.
Chesapeake Sc D ela w a re .—Delaware City to Chesapeake City. Md.
1884-5. In the year ending May 31,1885, gross receipts were $208,854 and net
1883-4.
Earnings from —
1882-3.
$289,852 $22,516.
$271,461
Passengers.............................$263,241
425.979
412,993
Freight................................... 426,133
Chesapeake Sc O h io.—1 his company was assisted with loans by the
T
109,126 State of Maryland. It has long been unable to meet its interest. In a
103,500
Mail, express, etc................ 108,055
suit against the company the Court (January, 1881) declined to appoint a
$788,014
$824,957 receiver, but ordered the company to report at stated times its receipts
Total earnings..... ..........$797,429
493,383
451,816 and payments. In July, 1884, application again made for a receiver
Operating exp. and taxes... 601,549
and sale of the canal. In 1883 gross earnings, $329,527 ; net, $84,474;
$373,141 in 1885, gross earnings were $135,929; expenses, including interest
$294,631
Net earnings..................... $195,380
paid, $184,667. (V. 41, p, 23.)
INCOME ACCOUNT.
D elaw are D iv isio n .—Leased to Lehigh Coal < Navigation Co. at
fe
Receipts1882-3.
1883-4.
1884-5. Interest on bonds and 4 per cent a year on stock. 29,642 shares have
$294,631
$373,141 been converted into Lehigh Coal & Navigation stock, leaving only
Net earnings..........................$195,380
26,073
23,942
29,637 3,025 shares unconverted.
Other receipts.......... ............
D elaw
Delaware < Hudson
fe
Total....................
$216,053
$313,573
$403,078 chartered are Sc H u d s o n .—Thecanal from Rondout N. Canal Co. was
April 7 1823, and the
Y. to HonesDisbursements—
dale, Pa., was completed in 1828. The company owns the following
In te re s t........ ................
$80,641
$80,698
79,365 railroads, viz: Lackawanna < Susquehannah, Nineveh, N. Y., to Jeffer
fe
Dividends........ ........(6p. c ) 124,914 (8p.c.) 166,592 (8p.e.) 166,592 son Junction, Pa., 22 miles; Valley RR., Carbondale to Scranton Pa.,
17 miles; Union RR.,
Ridge to
Total.......... ...................... $205,585
$247,290
$245,957 mouth < Wilkesbarre Greenand bridge,Mill Creek, Pa., 17 miles ¡P ly
fc
RR.
3 miles; Gravity RR., Olyphant
$71,283
$157,121 to Honesdale, 56 miles; total owned, 114 miles; track of Jefferson RR.
Balance, surplus.................. $10,468
used by contract, 35 miles; total operated in Pennsylvania, 150 miles.
—(V. 40, p. 686; V. 41, p. 69, 6 8 7 , 722.)
This company is among the largest miners and carriers of anthracite coal,
&
W is c o n s i n C e n t m l,—Owned on Dec. 31,1884, the main line and and also Teases the Albany & Susquehanna and Rensselaer < Saratoga
&
blanches Stevens Point to Menasha, 65 miles; do. to Ashland, 188 railroads, including the N. Y, < Canada RR., whose bonds it endorses.
The stock was increased to $30,000,000 (of which $23,500,000 issued
m iles; do. to Portage City, 72 miles; branches and spurs,25 miles; total
owned, 349 miles. Leased: from Neenah to Schleisingerville, 64 miles; to Jan. 1,1886) to pay off the bonds due in 1884 and 1891. Of the
Packwaukee to Monflpllo, 7 miles; operated under contract, Milwaukee remaining $6,500,000, $1,000,000 will be issued in 1887, and $5,500,000
in 1891, to take up an equal amount of 7 per cent bonds. To share
to Schleisingerville, 33 miles. Total operated. 450 miles.
In January, 1879, the Wisconsin Central Road was taken possession of holders of May 24,1883, there was allotted 35,000 shares to be paid for
by the trustees for bondholders, who still operate it. There is a land at par, one share of new stock being allotted for every six shares of the
grant of over 800,000 aeres. The reorganization was practically accom old stock held by shareholders on the date named.
The annuhl report for 1885 had the following:
plished by consent, and only $247J>.tO eld bonds are unassented. Liti
“ I q the Coal Department, notwithstanding an increased demand over
gation is pending as to $200,000 bonds in New York Court of Appeals,
as to preferences claimed by one holder. The scheme embraced the. the previous year, the prices of coal were lower. This was »occasioned
issue of a new consolidated mortgage to cover $400,000 5 per cent by tne desire for ‘ tonnage ’ on the part of some of the interests, lead
preferred bonds; $3,800,000 first series bonds, now bearing 5 per cen t; ing, in its turn, to a very imperfect carrying out of the restrictive policy
and $5,700,000 second series bonds, to draw interest if earned (but —a policy which alone can give profit for our product, until the time
not cumulative) at 7 per cent. Interest on the second series is (not probably far distant) when consumption shall equal the power to
ayable J. and J., but dependent each time on the net earnings of the produce.
“ For the present this policy has been abandoned, and unless wiser
alf year ending six months before. The stock of $11,435,500 remains,
$2,000,000 of it preferred and $9,435,500 common, and is all deposited counsels shall prevail and lead to its re-establishment on a basis that
In trust with Stewart and Abbot, Trustees, to be voted on until all interest will secure fairness in its working—the results upon the anthracite in
is being earned and paid on new bonds, and in the judgment of the trus terest for the present at least cannot be other than disastrous.”
Comparative statistics for four years:
tees is likely to continue so to be. Trustees’ certificates for new stock
PROFIT AND LOSS.
(without voting power) have been issued to the old stockholders, which
1885.
1882.
1883.
1884.
pass as a delivery on sales.
Receipts—
$
$
$
$
In March, 1882, the Trustees and company leased for 99 years the
8,993,540 9,575,362 8,213,157 7,201,049
Milwaukee < Lake Winnebago RR., from Neenah to Schleisingerville, Sales of coa l.......................
fc
47,240
51,551
52,403
60,007
whichwas completed in December, 1882; the rental is 37*3 per cent of Canal tolls..........................
486,929 1 7Q9710
187,363
287,038
gross earnings up to $175,000 per year, all surplus to go equally to Miscellaneous profits........
284,464
257,541
249,497
lessor and lessee,and the bonds are issued subject to this lease. The Wis. Interest on investments...
892,804
492,924
745,436
649,905
«fc Minn, and Minn. St. Croix < Wisconsin RR., built m 1884. gave impor Coal on hand (Dec. 31) —
fe
830,542
694,941
888,559
812,455
tant extensions, reaching St. Paul from Abbottsfoid, via Chippewa Falls, Railroad earnings in Penn.
1,905
8,465
159 miles. From Milwaukee this company makes use of Chic. Mil. < Profit on leased lines.......
&
St. Paul tracks 32 miles; an extension from Schleisingerville to Chicago,
T ota l........................... ..10,804,251 11,808,244 :10,755,136 9,393,162
116 miles, a new road, was begun in 1835, to be known as the Chic.
$
Disbursements—
$
$
$
Wis. < Minn. See V. 41, p. 241. In V. 40, p. 762, is an abstract of the Coal on hand Jan. 1 .........
&
745,436
492,924
892,804
345,075
annual report for 1884, showing earnings and expenses, operations of Mining coal........................ 4,422,213 4,996,195 4,549,480 3,975,297
the land department, «fee. For three years the earnings, «fee., w ere:
811,873
557,500
592,803
798,701
Coal transportation, «fee...
826,987
Canal freight and exps___ 1,680,192 1,642,844 1,455,805
Net
Freight (ton)
Gross
Passenger
Interest............................... 1,312,083 1,321,941 1,198,885 1,082,768
Earnings. Taxes and miscellaneous. 407,756
Years. Miles.
Mileage.
Mileage.
Earnings.
546,624
585,446
522,777
$122,660
1883 . . . . 450
14,992,032
39,128,716 $1,447,799
174,490
313,330
151,679 Loss on leased railroads... 1,838,201 1,995,843 1.488,094 1,186,396
1 8 8 4 .... 450
14,613,556
43,338.991
1,429,075
Balance...............................
1 8 8 5 ........................................
........
1,461,005
Total............................. 10,804,251 :11,808,244 10,755,136 9,393,162
—(V. 40, p. 718, 7 6 2 ; V. 41, p. 43,103, 182, 241, 528, 558, 586, 654^
E
GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR
W o rcester Sc N ashua & R o ch e ste r.—Owns from Worcester to
Nashua and Nashua to Rochester, 94miles. This consolidated company
was formed Dec. 1,1883, by a merger of the Worcester < Nashua and its
fc
leased line, the Nashua < Rochester.
fe
In October, 1885, a lease of this property for 50 years, from Jan. 1,
1886, was made to the Boston & Maine RR. Co. at a rental of $250,000
and taxes. Five years’ operations were as follows :
Passenger
Net
Freight
Gross
Earnings.
Years. Miles.
Mileage.
Mileage.
Earnings.
$155,196
$16,153,062
188081 .. 94 7,222,999
$588,770
156,993
188182... 94 7,467,524
16,999,008
631,982
173,325
17,844.586
661,531
1882- 83...
94
7,592,458
181,421
1883- 84...
84
7,335,977
17,338,246
639,447
191,106
633,074
1884- 85 .. 94
............... .
- 1 7 .4 1 , p. 527, 558, 586, 688.)
Assets—
Canal...................................
Railroad and equipment..
Real estate . . . ....................
Mines and fixtures............
Coal-yard, barges, «fee........
Lack. & Susquehanna RR.
Albany & Susq. R R ..........
NewYork < Canada R R ..
&
Cherry Val. & Sharon RR.
Meehan. < Ft. Edward RR
fe
Schen. < Meehan. R R .......
&
Coal on hand Deo. 31.......
Advances to leased lines..
Advances on coal royalties
1882.
$
6,339,210
6,581,070
9,044,175
2,751,236
683,185
1,022,938
1,008,787
3,597,074
300,000
48,296
210,922
492,924
637,605
625,073
1883.
$
6,339,210
6,957,188
9,035,163
2,796,329
670,678
1,022,938
520,164
3,597,074
300,000
52,113
211»280
745,436
921,663
6^ 8,724
1884.
$
6,339,210
6,468,684
9,325,365
2,792,417
790,779
1,022,938
............
3,597,074
300,000
51,928
211,527
892,804
1,502,789
698,125
1885.
$
6,339,210
7.134,018
9,628,325
2,795,576
934,856
1,022,938
3,597*074
300,000
59,131
211,765
649,905
330,737
720,05 3
96
CANAL STOCKS AND
BONDS.
fVoc. XLII.
Subscribers w ill confer a great favor by giv in g im m ediate notice o f any error discovered in these Tables.
Bonds—Princi
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount
For explanation of column headings, «fee., see notes of
of
Par Outstanding Rate per When Where Payable, and by Stocks—Last
on first page of tables.
Dividend.
Whom.
Canal. Bonds Value.
Cent. Payable
Lehigh Coal A Navigation—(Continued)—
Consolidated mortgage loan....................................
Greenwood 2d mortgage, reg. Extended, 1877..
General mortgage......................................................
Morris—Stock, consolidated....................................
Preferred stock..........................................................
New mortgage (for $1,000,000).............................
Preferred stock scrip dividend...............................
Pennsylvania—Stock....................................................
General mortg., interest guar’d by Penn. R R ___
Schuylkill Navigation—Stock, common....................
Preferred stock..........................................................
1st mortgage, extended............................................
2d mortgage...............................................................
Mortgage bonds, coup, (payable by P. & R .) ........
Improvement bonds.................................................
Boat and car loan, (payble by P. & R .)..................
Boat and car loan ( do
do ) ..................
Susquehanna—Maryland loan, 2d mortgage............
Susquehanna Canal, common bonds, 3d mort.......
do
pref. bonds, 1st mort............
do
pref., 1st T. W. priority b’ds.
do
bonds of 1872,4th mort........
$1,000
1,000
1,000
100
103
100
103
103 ’76-’85 1,000
1869 various.
337
50
1,000
337 1870
50
108
50
1,000
1,000
1871
1872
1884
i
1
1870
1863
1864
1839
1859
1884
1884
1872
1,000
1,000
1,000
1,000
500
500
1,000
1884.
1885.
1882.
1883.
$
$
$
$
Miscellaneous assets........ 3,658,429 3,944,549 3,372,061 *2,740,040
Telegraph and Car C o ....
69,410
69,410
43,035
43,035
Supplies,tools,&c.,on hand 1,408,449 1,466,143 1,611,254 1,185,028
Cash and bills receivable.. 2.609.203 3.914,976 2,823,813 3,964,939
Total assets.................. 41,087,986 43,213,038 41,843,804 41,656,642
Liabilities—
S
B
$
8
5
$
Stock.................................... 20,000,000 20,000,000 23,500,000 23,500,000
Bonds...................................18,763,000 18,763,000 15,378,000 15,378,000
Miscellaneous accounts...
836,899 2,444,732
778,072
812,002
Profit and loss.................... 1,488,087 2,005,306 2,187,732 1,966,640
__ Total liabilities............41,087,986 43,213,038 41,843,804 41,656,642
* These miscellaneous assets include the following: Sundry bonds
$118,552; 8,000 shares Albany < Susquehanna R R „ $800,000; 16,077
fe
shares Rensselaer & SaratogaRR., $1,607,700; sundry stocks, $213,788.
—(V. 40, p. 195, 2 1 3 , 569; Y. 42, p. 167, 1 8 6 .)
L elilgli Coal & N av ig a tion .—The Central Railroad of New Jersey
assumed (in purchase oi equipment) $2,310,000 of the gold loan due
1897 and leases the Lehigh & Susquehanna Railroad. The Lehigh &
Wilkesbarre Coal Company assumes $500,000 of the gold loan due 1897,
and $771,000 (all) of the convertible gold loan due 1894. Bonds matur
ing 1884 were extended till 1914 at 4*2. The Board of Maiiagers’ re
poit has the following statement of receipts and disbursements;
Receipts—
1883.
1884.
1885.
From railroads and Nesque. Tunnel. $1,614,695 $1,458,200 $1,459,035
65,552
77,444 ?
Lehigh Canal......................................
65,971
Water Powers Lehigh Canal............
20,525 5
20,881
57,745
58,951
Delaware Division CanaL................
11,038
Net profit on Lehigh Coal....................
386,354
370,101
396,103
4,441 )
3,642
Royalty on coal mined by lessees . . .
| m
33,463
36,531 > 52,524
Revenue from ren ts...........................
12,157
Miscellaneous receipts........................
22,358 5
IHsbursements—
General and legal expenses ...............
Kent and taxes Nesquehoning Yal.RR
Kent and taxes Delaware Div. Canal.
Taxes.....................................................
Interest account...................................
$2,194,489 $2,048,551 $1,981,676
1883.
1384.
1885.
$65,064
$58,460« $59,454
97,050
97,050
73,081
69,921
81,438
61,965
71,916
80,039
80,078
854,069
934,377
844,488
Balance of earnings..............................
Less sink. fd. of 10 p. c. p. ton on coal
Less deprec’n on coal, impr’v’m’ts,«fec.
$1,249,345 $1,159,578 $1,119,027
$944,644 $888,973 $365,649
$92,082
$80,717
$93,558
97,157
76,026
86,869
$189,239
$755,405
535,457
Total....................................
Surplus for year............................
Balance to credit of div’d fd. Jan. 1..
Total........ ............
$156,743
$732,230
665,934
$180,427
$685,222
679,936
$1,290,862 $1,398,164 $1,365,158
$2,461,750
643,000
1,500,000
1,025,000
1,175,000
1,000,000
103.164
4,501,200
2,934,000
689,912
3,285,550
1,709,380
3,990,392
1,200,000
228,000
756,650
621,600
1,000,000
1,326,000
227,500
97,810
250,000
7
7
4b
2
5
7
7
6
35c.
70o.
6
6
6
6
6
7
6
6
6
6
7
J.
F.
M.
F.
F.
A.
F.
& D. Philadelphia Office.
do
do
& A.
do
do
& N.
& A. Leh. Val. RR. Co., Phila
do
do
«fe A.
do
do
& O.
& A.
do
do
June 1, 1911
1892
1924
Feb., 1886
Feb., 1886
April 1,1906
Feb., 1889
J. & J. Phila., 233 So. 4th St.
Philadelphia, Office.
do
do
do
do
Q .-M .
do
do
J. < J.
fe
do
do
J. < J.
fe
M. & N.
do
do
M. < N.
fe
do
do
do
do
M. & N.
J. «& J. Phila. and Baltimore.
do
do
J. < J.
fe
do
do
J. «fe J.
do
do
J. < J.
&
J. «fe J.
do
do
July, 1910
Feb. 15,1884
Feb. 15,1884
March, 1897
1882 to 1907
1895
May, 1880
May, 1913
May, 1915
Jan., 1885
Jan. 1, 1918
Jan., 1894
Jan., 1894
Jan., 1902
Dividends..............................................
Rate of dividend................................ .
1883.
$624,928
4%
1884.
$718,228
6
1885.
$681,315
6
Balance to credit of div’dfundDec.31 $665,934 $679,936 $683,843
The annual report for 1885 in Chronicle, V. 42, p. 241, said:
“ A considerable quantity of the larger sizes of our coal has found
ready sale in Northern New York, Canada and the West, following our
lines to near Scranton, and we have in the last two years developed a
considerable all-rail trade with Eastern New York and interior New
England.” * * *
“ In order to secure this trade we have in the past year made an agree
ment with the Lehigh & Hudson River Railroad Company, which guar
antees that we shall for a term of ten years have the use of its railroad
system on as favorable terms as are accorded to any one. To make this
agreement secure, we have exchanged with stockholders of that com
pany 2,000 shares of our stock, of the par value of $100,000, for 4,000
shares of its stock, of the par value of $400,000, and we and certain of
its stockholders have put the majority of the whole capital stock into a
trust to carry out the agreements above recited. We have thus acquired
an important outlet without incurring any liability on account of the
Lehigh & Hudson River Railway Company.” * * *
“ Our relations with the Philadelphia _<fe Reading Railroad Company
and with the Central Railroad of New jersey, have been satisfactory
throughout the past year, the payments on account of the lease of the
Lehigh & Susquehanna Railroad and branches being promptly
made.” * * “ We have heretofore assured these companies that we do
not desire to add to their embarrassments, but we do not intend that
any action which may be taken shall in any way impair our revenue or
injure our interests.” iV. 41, p. 720; V. 42, p. 24 1 .)
M o r r i s ,—Leased April, 1871, to Lehigh Valley Railroad for 999
years. The lessees assume bonds and scrip, and pay 10 per cent per
annum on pref. stock and 4 per cent on consol, stock.
P en n sy lv an ia ..—Worked in interest of Pennsylvania RR., which
uarantees interest on bonds. An old mortgage balance of $67,000 is
ue in 1887. Earnings in 1884, $319,685; net, $127,317; interest, taxes,
&o., $180,330; loss, $53,017. Earnings in 1885, $274,207; net, $128,765;
interest, «fee., $175,350; def., $46,584.
Scliuylltill N av ig a tion .—Leased from June ly l8 7 0 , to Philadelphia «fe'Reading for 999 years. The unpaid rental by P. & R. to Dec.
31, 1885, was $748,033. In 1885, the cash receipts were $242,946;
payments (including $230,363 interest on loan), $240,173; balance,
$2,773. The P. & R. receivers in July, 1884, declined to furnish money
for dividends on stock, claiming that it had not been earned, and this
question went before the Court, but was not settled. The P. < R. has paid
&
some of the coupons and purchased others. At the annual meeting in
February, 1886, a committee was appointed to oonsider the status of
affairs as to the lease, &c., &c. (V. 40, p. 2 4 0 ; V. 42, p. 207.)
S u s q u e lia n n a .—Leased and operated by Philadelphia < Reading
fe
Railroad for interest on bonds and half of net earnings. The stock is e x
changed for Phila. < Reading, two of canal stock for one of Reading,
fe
The floating debt is considerable.
f
HENRY L. GRANT, NO. 146 BROADWAY, NEW YORK.
IN
THE
BONDS
AN D
STOCKS
OF
Date.* Bid. Ask.
Amount. Period. 1
A
42d < Gr’nd St.F’ry—
fe
Stk
fc
Jan., 1886 28
31
Bicker fet.& Fult.F.—Stk 100 $900,000 J. < J.
fe
700.000 J. < J. 7*4 July, 1900 113 116
1st mort........................
1 st mort................... --- 1,000
J.
Eighth Ave.—Stock........
100 2,100,000 Q.— 2 Jan., 1886
200
Br dway & 7th Av.—Stk.
Scrip.............................
1st mort...............-....... 1,000 1.500.000 J. «fe D. 5 June,1904 iÖ2" 103
F.
Houst.W.St.«feP.F’y—Stk
10 2,000,000 Q.— 3 b Aug.,1885 195 200
Brooklyn Ci,y—Stock—
1st mort........................
1,000 800.000 J. «fe J. 5 Jan., 1902 106 110
1st mort.............
Second Ave.—Stock........
100 200,000 A. & 0. 4 Apr., 1886 155 160
Bk’lyn Crosstown—Stock
1st mort........................
1st mort, bonds..... — 1,000 400.000 J. «fe J. 7 Jan., 1888 105 112
Consol..........................
Cent.Pk.N.«fe E.Riv.—Stk 100 1.800.000 Q.—J. 2 Apr., 1886 120 125
Sixth Ave.—Stk.............
Consol, mort, bonds— 1,000 1,200,000 J. & D. 7 Deo., 1902 123 125
Q .-F. l b Feb., 1886 130 135
1st mort.......................
100 650.000
Christ’ph’r&lOth St—
Stk
.
Third Ave.—Stock.........
Bonds....................----- 1,000 250.000 A. <feO 7 Oct., 1898 110 116
1st mort.......................
100 600.000 Q__J. l b Apr., 1886 160 165
Central Crosstown—
Stk.
1st mort....................... 1,000 250.000 M.&N. 6 Nov.,1922 111 113 b Twenty-third St.—Stock.
F.
1st mort.......................
180
DryDk.E.B.& Bat’y—Stk 100 1,200,000 Q.— 4 Feb., 1886
500 900.000 J. «fe D. 7 June,1893 114 116b Ninth Avenue................
1st mort., consol...........
fc
Aug., 1914 106 107
100 1,200,000 F. < A.
Scrip........y...................
* This column shows last dividend on stocks and date of maturity o f bonds.
Par.
EVERY
ROAD.
Par.
Amount. Period.
j Rate
DEALER
100
1,000
100
100
100
500
100
1,000
1,000
100
1,000
100
1,000
100
1,000
100
$748,000 M.«fcN.
236.000 A. & 0.
1,000,000 Q.—
J.
1,000,000 F. & A.
250.000 Q.—F.
500.000 J. «fe J.
1,862,000 J. «fe J.
550.000 M.&N.
1.050.000 M.&N.
1.500.000 Q.—F.
500.000 J. & J.
2,000,000 Q.—F.
2,000,000 J. & J.
600.000 Q .-F .
250.000 M.&N.
800.000
4
7
2
6
4
7
5
5
7
3
7
4
7
2b
7
Date.*
Bid. Ask.
Feb., 1886 245 255
Apr., 1893 111 116
Apr.,1886 200 225
Aug.,1914 105 110
Feb., 188ff *145 152
July, 1894 111 113b
Jan., 1886
200
Nov.,1909 109 110b
May, 1888 105 105 b
Feb., 1886 200 210
July, 1890 110 115
Feb., 1886 300 310
Jan„ 1890 111 113
Feb., 1886 220 240
May, 1893 110 118
135 140
A pril, 1886.]
MISCELLANEOUS STOCKS AND
97
BONDS
Subscribers w ill conier a great favor by g iv in g im m ed ia te notice o f a n y error discovered In tbese T a b les.
IBonds—PrinoiINTEREST OR DIVIDENDS.
DESCRIPTION.
Date Size, or
Amount Rate per When Where Payable, and by Slocks—Last
of
Par
For explanation, of column headings, &o., see notes on
Whom.
Dividend.
Bonds Value. Outstanding Cent, Payable
first page of tables.
Adams Express—Stock............................................................
American Bell Telephone—Stock............................ ...............
Amer. Tel. < Cable—Stock, guar. 5 by West. Union..............
&
American Coal (Maryland)—S tock ........................... ^.........
American Express—S t o c k ........ . . . . . . . .............................
Canton Company—Stock (44,300 shares).................. ............
Mortgage bonds, gold, sixes.................................................
Central New Jersey Land—
Stock............................................
Central < South Americ m Telegraph—
6
Stock.......................
Colorado Coal & Iron—Stock..................................................
1st consol, mortgage, gold....................- ..............................
Commercial Telegram—Stock ($200,000 is pref.)...............
Consolidation Coal o f Maryland—S to ck .............................
1st mortgage, consolidated, convertible......................... .
Consolidated Oas (N.Y.)—Stock.............................................
Bonds, Municipal Gaslight Co.............................................
Bonds, Metropolitan Gaslight Co.........................................
Bonds, Knickerbocker Gaslight Co.......................... ...........
Cumberland Coal & Iron—Stock.............................
Cold < Stock Telegraph -S tock............... ................... .
&
International Ocean Telegraph—Stock..................... ............
Iowa HR. Land Co.—Stock........................................... . . . . .
Iron Steamboat Company—Stoek..................................... —
Bonds....................I ................................................................
Lehigh < Wilkesbarre Coal—S tock ........................................
S
Sterling loan............................- ................................. *..........
Mortgage loans ($110,000 are 7 s ).......................................
Consol, mort. ($6,116,000 of this held by Cent, of N. J.).
Sundry mortgages ................................ ....................... - Inc’me bds,reg.(not cum.) $2,353,000 held by Cent. N.J.
Mariposa Land < Mining—
£
Stock........- ................... .............
Preferred stock.......................................................................
Mortgage bonds.....................................................................
$100 $12,000,000
9,802,100
100
000
100 14.000.
1880
1872
1881
1875
100
1875
100
1,000
A d a m s E xpress. — reports; no information.
No
A m erican B e ll Telephone C o.—See report for the year ending
Dec. 31, 1885. in Chronicle, V. 42, p 430. In 1885 paid 16 per ceat
dividends, including two extra dividends. (V. 42, p. 430.)
A m erican E xpress.—No reports.
A m erican T elegraph Sc Cable Co.—Owns two cables between
Senuou Cove, Eagland, aud Dover Bay, Nova Scotia. The stock of
$10,000,000 was 70 per cent paid up, and in April, 1882, a pooling ar
rangement was made with the other cable companies for 38 years, by
whieli this company receives 22*a Per cent of combined revenues while
both its cables are working and 12*3 per cent if only one is working
which percentages hold good for one year after any breaking of the
cables; if not repaired within that time the percentages are reduced
according to the time that the cables remain broken. Then this com
pany’s cables were leased to Western Union for 50 years, with a guarnty of 5 per cent per annum on the stock increased to $14,005,000.
A m erican C oal.—There are mortgage bonds for $200,000. The
annual report for 1385 gave the following information: Income, 1885,
$487,989; total expenses, $451,425; balance, $36,565.
Total assets December 31, 1885—Lands and real estate at mines,
$1,542,365; real estate at Jersey City, $100,710; mine improvments,
$14,000; cash and demand loans, $52,908; wharf improv. at Jersey
City, $2,500; personal property at mines, $29,257; personal property
at wharves, $1,120; bills receivable, $74,911; accounts, $78,016;
canal boats, $4,100; value of coal on hand, $12,936; office furniture,
$500; C. & P. RR. stock, $1,000; G. C. & C. RR. stock, $160,000; sink
ing fund, $15,385; total, $2,089,708. (V. 40, p. 2 6 8 ; V. 42, p. 271.)
C anton Com pany (B a lt.)—The capital stock, by changes made
subsequent to the original issue, became practically only $16 25 par
per share, and was reduced by purchase and cancellation to 44,300
shares. A brief history of the company was given in V. 30, p. 117. The
company o wued theetock of the Union RR. Co. and guaranteed its bonds
but sold this stockl ($600,000) to the Northern Central RR. in April,
1882, for $594,000. The Union RR. sinking fund of $689,885 remained
the property of Canton Co., but is held by the trustees till bonds have
been paid off at maturity. Annual report for 1884, V. 40, p. 716.
C e n tr a l N e w 'J e r s e y I ,a n d I m p r o v e m e n t .—The statement for
the year ending December 31,1885, showed total receipts in 1985 of
$44,476. The balance sheet, December 31, 1885, gave the following
value of lands ow ned: Newark lands, $255,408; Bergen, $537,976 :
Elizabeth, $164,950; Westfield, $26,307; Fan wood, $493,361; Plainfield, $304,756; Dunellen, $346,048; Somerville, $77,861; Clinton,
$4,780; Bloomsbury, $26,345; Phillipsburg, $1,500; total, $2,239,294.
Bonds, &c., $25,883; land contracts, $15,890.
Central Sc South A m . T elegrap h .—Line from Vera Cruz, Mex
ico, to Lima, Peru, with branches, 3,160 miles of cable and 300 miles of
land lines. Completed November, 1882. Connects at Lima with West
Coast Tel. Co. of Amerioa, having 1,700 miles of cable to Valparaiso,
and at Vera Cruz with Mexican Telegraph Co. Stock is $5,000,000; no
bonds. Surplus revenue Dec. 31, 1885, after providing for dividend,
$68,191. James A. Scrymser, Pres’t, N. Y. (V. 40, p. 1 5 0 )
Colorado Coal Sc I r o n .—This company, with headquarters at Col
orado Springs, Col., was a consolidation Dec. 13,1879, of the Central
Colorado Improvement Co., the Colorado Coal < Steel Works, and the
fc
Southern Colorado Coal & Iron Co. Stock is non-assessable. In the bal
ance sheet of Dec. 31,1885, the assets include : “ General Department,”
embracing current assets, $958,950; “ Coal Department,” mines, mach
inery, &o., $148,944; “ Coke Department,” $228,686; “ Iron and Steel
Department,” $1,797,3 33: iron mines, $146,297; real estate, lands,
town lots andbuildings, $10,238,412.
A n a b s t r a c t o f t h e r e p o r t o f 1 8 3 5 w a s i n t h e C h r o n i c l e , V. 4 2 , p . 3 3 7 ,
s h o w i n g g r o s s e a r n i n g s a n d n e t i n c o m e a s b e l o w s ta te d .
EARNINGS AND EXPENSES.
,------------ 1 8 8 4 .----------- , ,----------- 1885.----------- .
Gross
Net
Gross
Net
Earnings. Earnings. Earnings. Earnings.
Coal department...........
$757,460 $134,030
$729,331
$60,025
Coke departm ent........
322,427
110,077
359,764
118,949
Iron and steel dep’t . . . .
562,236 1o3s26,427
928.011ioss.63,553
Iron mines dep’t ...........
7,937 loss.2,096
39,567
447
Real estate dep’t............
27,532
10,630
24,651
7,059
Miscellaneous earn’g s...
4,692
4,692
4,729
4,729
Totals......................... $2,083,900 $131,191 $1,679,440 $227,373
INCOM ACCOUNT.
E
1884.
1885.
Net earnings..............................
$131,191 $227,373
10,743
Add inoome from investments
6,753
Total................................................
Less interest on bonds........................ .
Less interest, discount and exchange.
$137,944 $238,116
209,940
209,940
2,432
9,885
$219,825 $212,372
def.81,880 sur.25,744
Surplus or deficiency
Increase in 1885 over 188 4.... .................................................
107,624
In the real estate department the earnings are wholly from rentals of
houses, lands, &o., containing]_no receipts from land sales. V. 40, p.
3 9 a ; V .4 2 ,p . 3 3 7 ,4 6 3 .)
3
1^
2
1.500.000
18.000.
000 3
„ 719,875
164i
171.000
6*g.
1,000
2.127.300 7 s c r ip .
100
1
100 ! 4,006,600
005
100 10.000.
3.499.000
6g.
1,000
1.920.000
100
'Ï '
100 10.250.000
6
2,449,500
1,000
3ifl
100 35,430,060
7
291.000
6
658.000
6
670.000
6
500.000
100
5.000.
000 1 ^
100
3.000.
000 O^
1
Too 1,052,800
2.000.
000 3
6
500.000
*500
8.700.000
6
1.795.000
6 & 7
466,879
7
1.ÖÖ0 11.500.000
1,038,607 5 , 6 & 7
7
3.472.300
10Ö&C.
25
100
1874
2
10 .000 .
Q .-M . ' N. Y., Company’s Office.
Q .-J - Boston, Compy’s Office.
Q .-M . N. Y., West. Union Tel.
M. & S. N. Y., 110 Broadway.
J. & J. N. Y., Company’s Office.
Mar. 1, 1886
April 15, 1886
Mar. 1. 1886
Mar. 10,1886
Jan. 2, 1886
J. &r J. New York or London.
Jan. 1, 1904
Jan., 1875
Apr., 15,1886
Q.—J.
F. & A. N.Y., Company’s Office. Feb. 1, 1900
J. & ‘j .
M. & N.
F. & A.
J. & D.
A. & O.
Q.—J.
Q .-J .
J. \fe’j .
N.Y., Co.’s Office, 71 B’y Jan. 28,
do
do
Jan. 1,
Dec. 15,
N. Y., Company’s Office, May 1,
Aug. 1,
do
do
June 1,
do
do
N.Y., 19 Courtland St.
(Î )
N. Y., West. Union Tel. April 1,
N. Y , West. Union Tel. April 1,
Boston, Treas. Office. Nov. 2,
Nov. 2,
N. Y., Mercantile Tr. Co. July 1,
N. Y., 160 Broadway,
do
do
do
do
M. & N.
do
do
Q .-M .
1886
1897
1885
1888
1901
1898
1886
1886
1885
1885
1901
1899
June i , Í900
May 1, 1888
000
5,000,000
250.000
J. &*’j .
New York.
Jan. 1. 1886
C om m ercial T eleg ra m C o .—This company was incorporated in
’82 under general telegraph law of N. Y. State. It furnishes stock quota
tions by “ tickers” in Mew York, and by sub-companies in other cities.
On Jan. 31, by statement to Stock Exchange, the inoome was $6,770
per month and expenses $4,758. The pref. stock has a prior claim for
6 per cent dividend per annum. John Anderson, President and Treas.
Consolidated. Gas o f N ew Y o r k .—This company was organized
Nov. 11,1884, under chapter 367, laws of New York, 1884. The oomnanies merged in It were the New York Gaslight, th« Municipal Gas
light, the Metropolitan Gaslight, the Manhattan Gaslight and tlie Harlem
Gaslight. The total stock was $39,078,060, of which $3,647,940 was
reserved for working capital and for indebtedness of old companies.
- ( V . 42, p. 22, 215.)
C on solidation C oal.—Annual report for 1885 was in V.42, p. 214.
The gross reoeipts from mines, railroads, rents, 1885.
1884.
&o (incl’gva lu eofst’okof ooalonhand).w ere.$2,055,313 $2,222,082
Tot. expen’s of every kind (excl. of int & sink, fd.,
but inol. steel rails & all extraordin’ry outlays). 1,750,772
1,904,603
Net reoeipts....................................................... $304,54o
$317,479
The int. and sink. fd. in 1885 took $167,527; balance, surplus, $137,013.
Consolidated mortgage bonds are held to retire old bonds. This com
pany guarantees also 2d inortg. bonds of the Cumberland & Pennsyl
vania, and assumes $135,003 of the Union Mining Co.’s bonds. The
total bonded debt on lands and railroads is $2,417,500. (V. 40, p. 2 6 8 :
V. 42, p. 2 1 4 .)
In tern ation a l Ocean T elegraph C o .—The Western Union Co.
operates the line Dy contract for 99 years from Jan. 1,1882, paying 6
per cent per year on stock.
G old Sc Stock T eleg ra p h C o.—Operated by West. Un. Tel. Co. by
contract for 99 years from Jan. 1, ’82, at 6 per cent per annum on stock.
I o w a R a ilro a d L a n d .—
The total land owned was 39,067 acres
March 31,1885.
Ir o n Steam boat C o.—Property consists of seven iron steamboats.
Bonds and stock listed in June, 1882. Stock, $2,000,000. Gross earn
ings in 1884-5, $372,423-; net, $110,519. Paid interest on bonds, $30,000; special deposit with F. L. &T. Co., $15,000; invested In company’s
bonds, $20,000; dividend on stook (3 per cent, Nov. ’85), $60,000;
total, $145,000; defleieacy, $34,436; but there was a surplus from
previous year of $74,983, leaving surplus Oct. 15, 1885, $40,507. (V.
41, p. 4 9 5 .
L eh ig h Sc W ilk esb a rre C oal.—This company was organized Feb.
6,1874. It is controlled by the Central RR. of New Jersey through
ownership of a majority of the stock, and the Central of New Jersey
owns $6,116,000 of the consol, mortgage bonds and $2,353,000 of the
income bonds. The L. & W. Coal Co. also assumes and counts as part of
its funded debt $747,500 bonds due 1894, and $500,000 bonds due 1897,
of the Lehigh Coal & Nav. Co. The company was in receiver’s hands
with Central of New Jersey, and in March, 1882, the receiver was dis
charged and property returned to its stockholders. Mr. W. H. Tillinghast, Pres’t, N. Y. City. The annual report for 1885 was in V. 42, p. 214.
(V. 42, p. 2 1 4 .)
m ariposa L a n d Sc m in in g .—There are outstanding only 15,000
shares, the balanoe being owned by company. Litigation has been in
progress many years and nothing done on the estate.
m ary lan d Coal C o.—No late report. The business of 1882 included
total shipments of 97,777 tons.
The profit and loss account in 1882 was as follow s: Balanoe Jan, 1,
1882, $16,780; balanoe credit coal acoount, $ 2 1,88 5—$41,666. Ex
penses—
interest, $7,091; interest on bonds, $11,270; taxes, $7,731 ;
salaries and expenses, $13,221; legal expenses, $501—$40,276; balanoe
Jan. 1,1883, $1,389.
m exican T eleg ra p h .—Company organized in 1878 under laws of
New York State. Has a cable from Galveston to Tampioo and Vera
Cruz, 733 miles; land line, Vera Cruz to Mexico City, 267 miles.
Has exclusive right for 50 years for all foreign telegrams to Mexico,
except telegrams to and from a neutral zone on the United States
border 156 miles wide, between the Gulf and Pacific Ocean. Company
owns 1,362 shares of the Central & South American Telegraph Co. Rev
enues in ’85, $201,387; expenses, $70,201; dividends, 8 p. c., $114-,
752; surplus, $16,334. Jas. A. Scrymser, Prest., N. Y. (V. 40, p. 182;
V. 42, p. 339.)
N ew Central Coal (md.)—
The annual report for 1885, in V. 42, p.
271, showed net prouisfor year of $16,244 ; and balance to credit of
profit and loss Deo. 31,1885, of $296,118. (.V- 40, p. 2 6 8 ; V.42,p.271.)
N ew Y o r k m u tu a l Tele rra p h .—The Mutual Union Telegraph
Co. was organized under New York State laws. Stock was $600,000 and
afterward increased to $10,000,000. In Feb., 1833, a lease to Western
Union for 99 years was agreed to at 1 ^ per cent yearly dividends on
the stock and interest on the bonds. The organization was changed to
the New York Mutual Telegraph Company and the stock was reduced to
$2, 500,000, carrying dividends of 6 per cent per annum. (V. 40, p. 508.
N ew Y o r k Sc T exas L au d —This company took the lands granted
to the International and Houston & Great Northern railroads, about
5,000,000 acres, which were given in settlement to the holders of con
vertible and second mortgage uonds. Up to Doc., 1885, it was reported
that about 1,400,000 acres had been sold. This would leave about
3,600,000 acres of land unsold. Office, Sparkill, N, Y. (Vol. 4Q, p. 241,)
MISCELLANEOUS STOCKS &KD BONDS.
98
[Vol. XLII.
Subscribers w ill confer a great favor by giv in g Im m ediate notice o f any error discovered in these T ables.
INTEREST OR DIVIDENDS.
DESCRIPTION.
Date Size, or
Amount
Par Outstanding Rate per When Where Payable, and by
For explanation of column headings, &c., see notes on first of
Whom.
Cent. Payable
Bonds Value.
page of tables.
Maryland Coal—Stock..............................................................
Bond................................................................................ ........
Mexican Telegraph—Stock.......................................................
yew Central Coal—Stock.........................................................
K. T. Mutual Telegraph—Stock, guaranteed 6 per ce n t....
1st mortgage bonds, gold, guar, by West. U nion..............
New York < Texas Lana ( Limited)—Stock............................
£
Land scrip receivable 75 per cent for lands.....................
Debentures, registered..........................................................
Northwestern Telegraph—Stock...............................................
Bonds, interest guaranteed..................................................
Oregon Improvement Co.—Stock.............................................
1st mort., gold, sinking fund................................... .
2d mort. for $1,200,000 fredeemable any coupon day.)..
Paciflc Mail Steamship—8took................................................
Pennsylvania Coal—Stock.......................................................
Postal Telegraph < Cable Co.—Stock ($21,000,000).............
£
1st mortgage (for $10,000,000)...........................................
Pullman Palace Car—Stock. ........ . •......... .........................
■
Bonds, 3d series......................................................................
Bonds, 4th series...................................................................
Bonds, debenture...................................................................
Quicksilver Mining—Common stock......... ........... - ...........
Preferred 7 per cent stock, not cumulative.......................
Railroad Equipment Co.—Stock (for $1,500,000)...............
Coupon bonds. (See remarks below.)................................
St. Louis Bridge < Tunnel EE.—Bridge stock, common.......
&
1st preferred stock, guar......................................................
2d preferred stock, guar........................................................
1881
....
....
1880
1885
$100
1,000
100
100
25
1,000
50
....
50
Too
1,000
i’oo
50
1872
1872
1878
Var’s.
Ï00
1,000
1,000
1,000
100
100
100
1,000
100
100
100
N o r t h w e s t e r n T e le g r a p h .—This company owns 8,000 miles of
wire and is leased to Western Union for 99 years, with guaranteed divi
dends of 4 per cent at first, rising one-eighth per cent a year to 6 in
1897 «"«I afterward. The bond interest is guaranteed.
O r e g o n I m p r o v e m e n t C o .—This company owns $3,000,000 stock
of the Seattle Coal & Transp. Co.; $575,000 stock of the Columbia &
Puget Sound RR.; $1,969,000 stock of the Pacific Coast S. S. Co. ;
170,000 acres, of lands, and other real estate. Floating debt July 1,
1884, $981,000 (see balance sheet, V. 39, p. 182). For year 1883-4 gross
earnings were $3,414,048 ; net $841,208. For 1884-85 gross earnings
were $2,811,957 ; net, $611,9 L6. Gross earnings Dec. 1 to Feb. 28, in
1885-86, $590,500, against $672,166 in 1884-85; net, $66,712, against
« 124,513; <v! 40, p. 214, 304. 364, 454, 597, 717, 742; V. 41, p. 24,
43, l è i , 242, 331, 420, 557, 689; V. 42, p. 125, 243, 365, 488.)
P a c if ic M a il S t e a m s h ip .—The Pacific Railroads gave to the steam'
ship company a monthly subsidy of $85,000 per month—this agree'
ment terminable on 30 days’ notice after Nov., 1885, and such notice
was given in Feb., 1886. The annual report for fiscal year ending April
30,1885, was in the Chronicle, V. 40, p. 650, to which reference
should be made for a comprehension of the financial condition of the
company, as stated in the report of the President, Mr. J. B. Houston.
The statement for the quarter ending Jan. 31 was as follows :
1884.
1885.
Gross earnings.................................
$1,314,912
Expenses........................................................
770,218
802,044
$384,752
Net........................ .................................... $544,694
Surplus..................
$579,895
$716,000
The following is a statement of the earnings and expenses for the
years ending April 30,1883,1884 and 1885 :
1
EARNINGS.
Atlantic Line....................................
Panama Eme.........................
Trans-Pacific Line.......................
Australian Line...............................
Austral’n and N. Zehl. subsidies..
mt. Am. and Mexican subsidies..
awaiianGovernment subsidy...
Interest and diva, on investments.
Miscellaneous...................................
Exchange........ ....................
§
1882-83.
$799,767
1,844,462
715,732
353,200
173,980
102,8o0
5,500
17,941
27,766
61,616
1883-84.
1884-85 .
$991,094 $1,016,172
1,790,927
1,848,781
1,251,762
1,547,225
369,288
159,066
180,190
87,366
105,500
100,250
5,500
2,667
14,694
14,766
45,666
43,853
33,278
6,047
Total.............. . ........................... $4,102,764 $4,787,899 $4,826,193
Operating expenseb....................... 3,190,507
3,394,419
3,209,138
Net earnings..............................
$912,257 $1,393,480 $1,617,055
The following is a statement of the assets of the company on April 30:
ASSETS.
1883.
1884.
1885.
Cost of steamers..............................$12,382,159 $11,266,815 $11,513,681
Real estate and improvements_
_
1,079,513
1,079,513
1,079,513
Coals, supplies, &c.......................
369,774
478,301
583,611
Sundry assets..................................
264,947
1,286,931
613,441
Profit and loss................................. 7,198,895
7,076,209
6.529,596
Total........................................... $21,295,288 $21,187,819 $20,349,842
—(V.40,p. 29, 120, 304.364, 481, 5 0 8 ,6 5 1 ,6 5 3 ; V. 41, p. 331, 357,
393, 473 ; V. 42. p. 126, 243.)
P e n n s y lv a n ia C o a l.—Liabilities at a minimum, and 16 p. c. divs.
paid.
P o s t a l T e le g r a p h & C a b le—Lines to extend from New York to
Chicago, New Vork to Washingon, New York to Boston, Buffalo to
Pittsburg, Fostoria, Ohio, to Toledo, and Chicago to St. Louis, most of
which were in operation on Jan. 1, 1884. Of the stock $7,000,000
is outstanding, $12,000,000 is held in trust, and balance
remains in treasury. Mr. J. W. Mackey is the President. The
name of the Postal Telegraph Co. was changed November, 1883.
(See V. 37, p. 564). The Postal Telegraph Company sold all its
property and franchises to the Postal Telegraph & Cable Co., which was
organized under the laws of this State expressly for this purpose.
In May, 1885, receivers were appointed, and a scheme for reorganiza
tion of the Postal Telegraph & Cable Co. was proposed, as stated in V.
40, p. 626, 645, by which the company will have no bonded debt and
stock for $5,000,000 only. The present bonds will take new stock for
35 per cent of their face, and the old stock will receive 5 per cent of its
amount in new. Foreclosure suit begun by Farmers’ Loan & Trust
Co. Nov. 1885, and sale took place Jan. 15,1886, for a nominal price of
$280,000. See V. 42, p. 94. (V. 40, p. 626, 645, 685; V. 41, p. 516; V.
* 42, p.(94.)
P u l l m a n P a la c e C a r.—The stock has been increased from time to
tim to provide new capital, as wanted, since the price, ruling above
par, gave a bonus to stockholders when subscribing for new stock.
$4,400,000
161.000
1,434,400
5,000.000
2,500.000
5,000,000
1,500,000
2,959,-tOO
50,000
2,500^000
1,180,000
7,000,000
4,852,000
(1)
20,000,000
5.000,000
7,000,000
3,000,000
15,925,000
445,000
820.000
955,000
5,708,700
4,291.300
900,000
4,102,000
2,500,000
2,490,000
3,000,000
1*2
7
4
1
3
6
Stocks—Last
Dividend.
Jan. 1, 1S76
__
Nov. 1, 1906
F. & A. N. Y., Company’s Office. Feb. 4, 1886
New York, Office.
Feb. 3, 1886
New York.
J. & J.
Jan. 1, 1886
M. & N. New York, 1st Nat. Bk. May 1, 1911
.....
....
7*
2516 J. & J. N. Y. West. Un. Tel. Co.
do
do
J. & J.
I 8' M. & S.
J. & D. N.Y., Farmers’ L.&T.Co
6 g.
....
8
Q .-F .
l^
N. Y., 1 Broadway.
4
Q .-F .
1900
Jan. 1, 1886
Jan. 1, 1904
Sept. 15, 1883
Dec. 1, 1910
1895
Feb. 1, 1886
Feb. 1, 1886
2^
6
N.Y.Am. Exch.Nat. Bk.
Q .-F . N.Y., FarmL. & T. Co. May 15, 1886
do
do
Feb. 15, 1887
Q .-F .
Aug. 15, 1892
do
do
Q.—F.
do
do
Oct. 15, 1888
A. & O.
May, 1882
Feb. 15,1886
Q .-F . N, Y., Clark, Post & M. Feb. 1, 1886
do
do
Various.
Quar’ly
3
1*2
J. & J. N. Y., Drexel, M. & Co. Jan. 1, 1886
do
do
Jan. 1, 1886
J. & J.
6
2
8
8
7
40c.
Annual report for year ending July, 31, ’ 85, was in Chronicle, V. 41,
p. 471. Income account for three years was as follows:
1882-83.
1883-84.
1884-85.
Revenue—
$
$
$
Earnings (leased lines included)........ 2,946,278 3,424,279 \A Q, R »
Proport’n of earnings of other a8soo’ns 605,596
488,2315 ^’ a40’ xox
Patent royalties, manuf. profits, &c..
541,371
543,947667,477
Total revenue.................................. 4,093,245
4,456,457 5,613,628
lyisbllVSCTYKMltS__
Operat’g expenses (leased lines incl’d)
976,380 1,110,932)
217,634
205,455 >2,657,661
Maintenance of upholstery, &c...........
Proport’n of expen’s, &c., oth’ assoc’ns 175,702
136,556 )
Rentals of leased lines............................
264,000
264,000162,529
Coupon interest on bond s....................
171,074
171,466171,453
1,339,6211,273,962
Dividends on capital stock.................. 1,235,142
Contingency account....................................................................
100,000
Profit and loss............................................................
35,733
............
Total disbursements....................... 3,039,932
3,263,7634,365,604
1,192,6941,248,024
Net result............................................... 1,053,813
—(V. 40, p. 356, 570; V. 41, p. 242, 4 7 1 ; V. 42, p. 23.)
Q u ick silver M in in g .—Bonds paid off July, 1879. The preferred
stock is entitled to 7 p. ct. per annum, not cumulative, and any surplus
goes to the common and preferred equally. A proposition in 1885 to
retire the preferred stock with an issue of bonds was abandoned. See
annual report for 1884-85 in V. 41, p. 1 3 2 , showing net income for the
year of $41,642; (V. 41, p. 557.)
R a ilro a d E qu ipm en t Co.—This company leases equipment to
railroads on the “ Car Trust” plan, taking obligations of the railroad com
panies running not over ten years at the utmost, which cover the princi
pal and interest of the special series of bends issued by the Equipment
Co. running for similar periods. The title remains in the lessor tul last
payment is made, and then vests in the purchasing railroad. In the
meantime the title is held in trust for bondholders and the bonds are
virtually a mortgage on the rolling stock, till paid off.
St. L o u is B ridge & T u n n e l R a ilro a d .—The railroad and tunneji
were sold under the mortgage of 1873, July 1,1878; Foreclosure under
the first and second mortgages on the bridge was made Dec. 2 0 ,1-8Z8.
On July 1, 1881, the bridge and Tunnel Railroad were leased t© the Sro.
Pacific and Wabash St. Louis & Pacific for the term of their cor
porate charters, on the terms following, viz.: Of the stook $2,490,000
first preferred, by the terms of the lease, is guaranteed 6 per cent;
$3,000,000 second preferred is guaranteed 3 per cent per annum.
The railroad stock of $1,250,000 is guaranteed 6 per cent a year.
The whole annual charge for rentals is $670,000, one-half payable b y
Missouri Pacific and one-half by Wabash. The common stock was held
by the London Reorganization Committee, and under the lease was
transferred to Mercantile Trust Company of N. Y. with power to vote
thereon. The Tunnel Railroad stock is guaranteed 6 per cent per an
num. In the year ending Dec. 31,1885, gross earnings were $1,542,879
fixed charges and guar, dividends, $873,522; surplus balance, $2,042.
Sterling Ir o n & R a ilw a y .—The property of this company, in
Orange County N. Y., (and a few acres in Rockland) consists or 25,000
acres of land, with furnaces, &c., having a capacity of 15,000 tons of
pig iron per year, and 8 ^ miles of railroad, houses, &e. The company
endorses the $471,674 bonds of the Sterling Mountain RR. A. W.
Humphreys, President, 42 Pine Street, N. Y.
S u tr o T u n n e l.—Tunnel on Comstock Lode for facilitating mining
operations.
U nited Lines T eleg ra p h .—This company was formed in
August. 1885, as successor to the Bankers’ & Merchants’ Tel., sold in
foreclosure July 31,1885. See account of sale and list of property sold
in Chronicle, Y . 4 1 , p . 1 2 2 . In the S u p p l e m e n t prior to sale the follow
ing account of the Bankers’ & Merchants’ was given, viz.:
“ Organized March 31,1881, under laws of New York State. Authorrized capital, $10,000,000. In Sept., 1883, this company negotiated for
the control of the stock of the Southern and the American Rapid Tele
graph, making a practical consolidation of the three lines. The Am.
Rap. Tel. Co. is bonded for $3,000,000 and stocked for $3,000,000. The
Southern Telegraph Company is bonded for $2,500,000 and stocked for
$5,000,000. The line of the Bankers’ & Merchants’ from New York to
Philadelphia is bonded for $290,000, payable $10,000 per year. The
Bankers’ & Merch’ts’ owned a majority of the stock of the Rapid and the
Southern, and a majority of the Rapid bonds. The B. & M. owned 4,700
shares out of the 9,200 shares outstanding of the Commercial Telegram
Company’s stock. Of the $10,000,000 of first mortgage bonds o f the
Bankers’ & Merchants’ $5,115,000 were sold and $4,786,000 pledged as
securitv for $784,874 notes o f the company. In September the B. & M.
Co. failed to meet obligations, and Richard S. Newcombe and James G.
Smith were appointed receivers and authorized afterward to issue
receivers’ certificates. In April, 1885, a foreclosure suit was begun on
the $10,000,000 mortgage. Separate receivers were appointed for the
Southern Telegraph and the Am. Rapid, and the Southern made a trafilo
agreement with the Western Union for one year, and the receiver of
the American Rapid made an agreement with Western Union for the
operation of its lines. The Bankers’ & Merchants’ was sold in foreclos
ure July 31,1885 (see V. 41, p. 122), and the plan of reorganization
A p r il , 1886.]
MISCELLANEOUS
STOCKS
AND
BONDS.
99
Subscribers w i ll confer a great fa v or b y g iv in g Im m ediate notice o f a n y error discovered In tbese T a b les.
____________________DESCRIPTION.____________________
Ronds—Princi
INTEREST OR DIVIDENDS.
Date Size, or
pal,When Due.
Amount
For explanation of column headings, &c., see notes on first
Par
of
When Where Payable and by Stocks—Last
Outstanding IRate
page of tables.
Bonds Value.
Cen
Payable
Whom.
Dividend.
St. Louis Bridge & Tunnel RR.—(Continued) —
1st mortgage, new, sinking fund.........................................
Tunnel RR. of St. Louis, stock, guar..................... .............
Southern Atlantic Telegraph—Stock (guar. 5 per cent.)..
Sterling Iron & Railway.—Stock.......................................... J
Mortgage bonds, income, series “ B” .................................
Plain income bonds................................................................
Sutro Tunnel—
Stock.................................................................
Mortgage (no bonds)..............................................................
United Lines Telegraph—Stock..... .................. .
.......
1st mortgage............. ............................................................
2d mortgage (for $3,600,000)...............................................
United States Empress—Stock..................................................
Wells, Fargo < Company Express—Stock...............................
6
Western Onion Telegraph—
Stock..................... .................. .
Real estate bonds, gold, sinking fund.................................
Bonds, coup, or reg., conv. till May, '85, sink. fd. 1 p. ct.l
Sterling bonds, coupon (sinking fund 1 p. ct. per annum)
1879
1880
1876
1879
1885
1872
1875
1875
$ 1,000
'*25
50
500 &o.
1,000
10
$5,000,000
1.250.000
948,875
2.300.000
418,000
495,575
20, 000,000
997,863
3.000.
000
1.200.000
6
3, 4, 5
(Î)
100
7.000.
000 1
4
100
6.250.000
100 80,000,000 1*2 scrip.
1.373.000
1,000
7 g.
4.920.000
1,000
£ 100&0
911,250
6 g.
A. & O. New York and London. April 1, 1928
J. & J. N. Y., Drexel, M. & Co. Jan. 1, 1886
A. & O. N.Y., West. Union Tel. April, 1886
Feff.
New York.
April 1, 1894
Oct. 1,1896
London.
Jan. 1, 1891
1st coup, due July 1, ’87
Q.—F.
New York, Office.
J. & J.
New York, Office.
Q.—J.
New Yorx, Office.
M. & N, N. Y., Union Trust Co.
M. & N, N. Y., Treasurer’s Office
M. & S. London, Morton, R.& Co
1915
Feb. 15,1886
Jan. 15,1886
April 15,1886
July 15,1902
July 16,1900
March 1,1900
embraces the following points: The formation of a successor company
Disbursements—
1882-83.
1883-84.
1884-85.
with a capital stock o f not more than $3,000,000. First mortgage by For dividends.............................. $5,199,124
$5,599,179 $4,999,325
the new company on all of the property under whioh not more than For interest on bonds.................
426,818
472,350
495,072
$1,200,000 of bonds are to be issued, with interest thereon at 6 per oent. For sinking funds.................
40,094
39,991
39,992
Second mortgage by the new company on all of the property under
which not more than $3,600,000 of bonds are to be issued; the interest
Total disbu rsem en ts........
$5,666,036 $6,111,520 $5,534,389
on these second mortgage bonds, however, is not to begin to run until
Balance of profits............... $1,994,314
$498,916
$166,536
the 1st of January, 1887, and then for the first two years only at 3 per
$1,664,240 $3,658,553 $4,157,469
cent, for the next two years at 4 per cent, and thereafter at 5 per oent. Surplus July 1 (begin’g o f yr.)..
Balance of profits for year.......
1,991,314
498,916
166,535
The general mortgage bonds outstanding were to receive a new $500
bond for each $1,000 bond, being scaled one-half. The stock to receive
Total nominal surplus June
one new share in exchange for four old shares.
30 (end of year)................ $3,658,554 $4,157,469
$4,324,004
—(V. 40, p. 53, 240, 303, 363, 423, 541, 569, 651, 685, 741, 763; V. 41,
p. 22, 75, 101, 122,182, 306, 330, 355, 584, 722 ; V. 42, p. 94, 207.)
The expenses in detail for 1883-84 and 1884-85 areas follow s:
1883-84.
1884-85.
U n ited States E x p ress.—No reports.
Operating and general expenses
$9,278,761
$8,544,554
Rentals of leased lines..................
1,842,690
1,822,543
W e lls . F argo Sc C om pany E x p ress..—An increase in capital to Maintenance and reconstruction,
1,350,448
1,146,871
$6,250,000 was made in 1879. No reports.
Taxes........ ...................................
301,077
301,732
Equipment of offices and wires..
249,528
190,210
W e ste rn U n io n T eleg ra p h .—On the practical consolidation with
the Atlantic & Pacific in 1878 the Western Union had a monopoly of tele
Total expenses
$13,022,504
$12,005,910
graphing business in the United States. In 1879 the American Union
opposition line was started under the auspices of Mr. Jay Gould. The
The annual report for the year ending June 30, 1885, in the
Western Union Co. divided’up its surplus stock, making a scrip dividend Chronicle V. 41, p. 444, said:
o f 17 per cent to stockholders of record June 20, 1879. On Jan. 19,
“ The falling off in gross revenues is due almost entirely to great re
1881, was dated the grand consolidation, in which the Western Union ductions of rates for the transmission of messages; for the volume o f
raised its stock to $80,000,000, giving par, or $15,000,000, for the stock the traffic was greater than that of the previous year. The increase of
and bonds of the American Union; 60 per cent for old Atlantic & Pacific over 20,000 messages shows a very small portion of the actual increase
stock was given in new Western Union; and a stock distribution of 38 of traffic, as the increased number of leased wires, over which the
per oent to Western Union shareholders. An injunction was obtained lessees handle their own messages, takes a very large number of mess
against the stock distribution and litigation ensued, and the stock ages out of the count. The receipts for, and the expenses of, handling
dividend was finally held to be legal by the N. Y. Court of Appeals in domestic messages show that the average rate collected per message
October, 1883.
for the year was only 32 1-10 cents per message, against 36*3 cents
The Mutual Union Telegraph made an opposition line, but in February, during the previous year, and 38 cents in the year previous to that;
1883, alease was agreed upon. The Western Union also leases the Amer whilst the average cost to the company has been 24 9-10 cents per
ican Cable, with a guarantee of 5 per cent per annum on its stock of message, against 25 2-10 in the previous year, making an average re
$14,000,000.
duction of 4 4-10 cents per message, and a difference In the profits of
In March, 1886, the company decided to pay the April dividend of 1*2 4 2-10 cents per message, which, on the volume of business handled,
per cent in scrip, as per statement in V. 42, p. 339.
is equal to nearly 2*4 per cent on the capital stock. The loss of 4 4-10
The statement for the quarter ending Mar. 31,1886 (partly estimated), cents per message as compared with the previous year makes a differ
was as follows, compared with the actual figures for same quarter in ence in the gross revenues of. $1,852,249.’’
1884:
The range in prices of stocks for a series of years has been: In 1881,
4
--------------- Quarter ending March 31--------------- 77®94; i n l 882,76*8®9338; in 1883, 71% a88:1 ; in 1884, 49®78*e;
9®
8.
------- 1885, Actual.------ .,— 1886, Estimated.—. in 1885, 531 8I38; in 1886, to April 16, 62'^3757
The following statement shows the mileage of lines and wires, number
$1,358,876
$1,050,000 of offices, and traffic of the company, for each year from June 30,1866,
Net revenue.....................
Deduct—
to June 30,1885 :
Interestron bonds............$123,768
$123,500
Miles of Miles of No. of
Slaking f u n d ..................
19,991—
143,759
19,991— 143,491
Year. Polês & C’bl’s. Wire. Offices. Messages. Receipts.
Profits.
18656 6 . . 3 7 ,3 8 0
75,686 2,250
$ ......... $
Net in co m e .............
$1,215,117
$906,509 1 8 6 6 6 7 . . 4 6 ,2 7 0
85,291 2,565
5,879,282
6,568,925 2.624.919
6 8 . . 5 0 ,1 8 3
97,594 3,219
Less dividend,................. (1*2 p. c.) 1,199,841
(1*2 p.c. scrip) 1 8 6 7 6,404,595
7,004,560 2,641,710
18686 9 . . 5 2 ,0 9 9
104,584 3,607 7,934,933
7,316,918 2,748,801
1 8 6 9 - 7 0 . . 5 4 ,1 0 9 112,191 3,972
9,157,646 7,138,737 2,227,965
Surplus for the quarter................
$15,276
$906,509 1 8 7 0 - 7 1 . . 5 6 ,0 3 2 121,151 4,606 10,646,077 7,637,448 2,532,661
Add surplus December 31................. 4,231,667
4,102,180 1 8 7 1 - 7 2 . . 6 2 ,0 3 3 137,190 5,237 12,444,499
8,457,095 2,790,232
18727 3 . . 6 5 ,7 5 7
154,472 5,740 14,456,832
9,333,018 2,757,962
9,262,653 2.506.920
Surplus March 31..........................$4,246,943
$5,008,689 1 8 7 3 - 7 4 . . 7 1 ,5 8 5 175,735 6,188 16,329,256
1 8 7 4 - 7 5 . . 7 2 ,8 3 3 179,496 6,565 17,153,710
9,564,574 3,229,157
From the annual report published in the Chronicle, V. 41, p. 1 8 7 5 - 7 6 . . 7 3 ,5 3 2 183,832 7,072 18,729,567 10,034,983 3,399,509
18767 7 . . 7 6 ,9 5 5
194,323 7,500 21,158,941
9,812,352 3,140,127
444, the following is taken for the fiscal years ending June 30. The
1 8 7 7 - 7 8 . . 8 1 ,0 0 2 206,202 8,014 23,918,894
9,861,355 3,551,542
revenues, expenses and profits were as follows:
1 8 7 8 - 7 9 . . 8 2 ,9 8 7 211,566 8,534 25,070,106 10,960,640 4,800,440
1882-83.
1883-84.
1884-85. 1 8 7 9 - 8 0 . . 8 5 ,6 4 5 233,534 9,077 29,215,509 12,782,894 5,833,937
Revenues for the year •............ $19,454,903 $19,632,940 $17,706,834 1 8 8 0 - 8 1 . . 1 1 0 , 3 4 0 327,17110,737 32,500,000 14,393,543 5,908,279
_
1 8 8 1 - 8 2 . . 1 3 1 , 0 6 0 374,368 12,068 38,842,247 17,114,165 7,118,070
Expenses (including rentals of
8 3 ..1 4 4 ,2 9 4
432,726 12,917 41,181,177 19,454,902 7,660,350
leased lines and ta x e s)...-.. 11,794,553
13,022,504
12,005,909 1 8 8 2 450,57113,761 42,076,226 19,632,939 6,610,435
18838 4 . . 1 4 5 ,0 3 7
18848 5 . . 1 4 7 ,5 0 0
462,283 14,184 42,096,583 17,706,834 5,700,924
Profits.
$7,660,350 $6,610,436
$5,700,925
—(V. 40, p. 114, 330, 718; V. 41, p . 307, 4 4 4 , 689 ; V. 42, p.. 339.)
BANK, 0-AS, INSURANCE AND CITY RAILROAD STOCKS,
BANK
Companies.
STO C K
IN S U R A N C E
L IS T .
Capital.
D ividends .
Surplus
at latest
Mkd. thus(*)
Latest.
are not Natl. Par Amount. dates.t Period. 1884. 1885.
$
$
10 Jan.,’86. 4
America*... 100 3,000,000 1,585,300 J. & J. 10
Am. Exch. . 100 5,000,000 1,456,300 M. & N.
7
7 Nov., ’86. 3ia
B ow ery. . . . 100 250,000 275,400 J. & J„ 10
10 Jan.,’86. 5
Broadw ay.. 25 1,000,000 1,447,100 J. & J. 20
20 Jan., 86.10
Butch’s’ <&Dr 25 300,000 269,700 J. & J.
8 Jan., ’86. 4
8
6 Jan., ’ 86. 3*3
Central....... 100 2,000,000 419,000 J. & J.
8
6 Jan., ’86. 3
C h a s e ...___ 100 300,000 176,400 J. & J.
8
10 Apr., ’86. 3
Chatham___ 25 450,000 369,900 Q,—J. 10
Chemical... 100 k 300,000 4,511,200 Bi-nl’ly. 100 100 Mar., 86.15
7 Jan., 8b. 3*3
7
Citizens’ . . . . 25 600,000 296,000 J. & J.
15 Nov.,’85. 5
City............. 100 1,000,000 1,911,600 M. & N. 15
1nn non
14,100
8 Jan.,’86. 4
8
Commerce.. 100 5,000,000 2,907,100 J. & J.
son nnn
13,800
8^1 8 Jan.,’ 86. 313
ib ö i.ö ö ö io ö ö 224,500 J. & J.
Continental.
10 Feb.,’ 86. 5
Com Exch.*. 100 1,000,000 1,021,800 F. & A. 10
8
8 Jan., ’86. 4
East River . 25 250,000 131,400 J. & J.
8 Jan., ’86. 4
69,900 J. & J.
8
11th W ard'. 25 100,000
6 Jan.,’86. 3
6
100 150,000 130,800 J. & J.
Fifth............
Fifth Av 6* 100 100,000 523,300
40 Apr., ’86.10
40
First............ 100 500,000 4,54Ì|9ÒÓ Q .-J .
Fourth........ 100 3,200,000 1,079,300 J. & J. '8 10-49 Jan.,’ 86. 4
7 Nov.,’85. 313
7
Fulton........ 30 600,000 250,800 M. & N.
10 Apr., ’86. 5
G allatin___ 50 1,000,000 1,069,000 A. & O. 10
■ . A. J.
T r
50 200,000
87,900
6
6 Feb.,’86. 3
Germ’nAm.* 75 750,000 163,600 F. & A.
Mar, ’84.10
10
Germ’n Ex.* 100 200,000 267,500 May.
8 Nov.,’85. 4
8
Germania*.. 100 200,000 272.200 M. & N.
6 Nov.,’85. 3
6
46,100 M. & N.
Greenwich*. 25 200,000
7 Jan.,’ 86. 3 ^
7
Hanover_ 100 1,000,000 586,700 J. & J.
_
' 125,000
21,400
14 Jan., ’86. 7
Imp.& Trad. Too 1,500^000 2,750,600 J. & J. 14
9 Jan., ’86. 4
Irv in g ........ 50 500,000 181,600 J. & J. 10
10 Jan.,’86. 5
Leather Mfr. 100 600,000 470,900 J. & J. 10
100 300,000
69,600
Jan,, 86: 3
100 200,000
14Ì9ÒÒ
8
71« Feb., ’86. 313
Manhattan * 50 2,050,000 886,000 F. & A.
8 Jau., ’86. 4
8
100 500,000 397,300 J. & J.
M arket.......
8
8 Jan., ’86. 4
Mechanics’ . 25 2,000,000 1,257,200 J. & J.
6
7 Jan.,’86. 4
76,000 J. & J.
Meek. & Tr* 25 200,000
6
6 Jan., ’86. 3
Mercantile.. 100 1,000,000 334,800 J. & J.
7
7 Jan.,’ 86. 313
Merchants’ . 50 2,000,000 614,200 J. & J.
3 Jan., ’85. 3
6
76,700 J. & J.
Merch. E x.. 50 600,000
7
7 Jan.,’86. 313
Metropolis *. 100 300,000 255,100 J. & J.
6 Jan.,’ 86. 3
76,000 J. & J.
6
Mt. Morris*. 100 100,000
16 Apr.,’86. 4
16
Murr’y Hill* 50 100,000 174,100 Q .-J .
98,000 M. & N.
8
8 Nov.,’85. 4
Nassau*....... 100 500,000
New Y o rk .. 100 2,000,000 1,368,700 J. & J. loia 10 Jan.,’86. 5
48,000 J. & J.
8
8 Jan.,’86. 4
N. Y. County 100 200,000
7
6 Feb., ’86. 3
N. Y.N. E x. 100 300,000 104,500 F. & A.
7
7 Jan., ’86. 313
Ninth.......... 100 750,000 224,100 J. & J.
100,000
3,000
6
6 Jan.,’86. 3
N. America* 70 700,000 250,100 J. & J.
68,100 J. & J.
8
8 Jan.,’86. 4
North Riv’r* 30 240,000
10 Jan., ’ 86. 5
Oriental*. . . 25 300,000 303.200 J. & J. 10
10
9 Feb., ’86. 2
Pacific * ___ 50 422,700 239,600 Q .-F .
8 Jan., ’86. 4
P a rk ............ 100 2,000,000 1,384,500 J. & J. 10
10 Jan., ’86. 5
People’s*. . . 25 200,000 144,100 J. & J. 10
6
6 Jan.,’86. 3
Phenix........ 20 1,000,000 237,900 J. & J.
_______
3 Oet., ’85. 3
100 1,000,000 103.80C 1
6 Feb., ’86. 3
T50 o;ooo 574,900!F. & A.
6
Republic___ 100
St. Nicholas* 100 500.00C 209,000 J. & J.
8 8 Jan.,’86 3
Jan., ’86, 21«
O
100 500,O C 114,40C
3 .Tau.’Sfi. 3
100 300,000
81,300 J. & J.
57,700 J. & J. 10
Jan., ’84.10
Second........ I10Ò 300,000
8
8 Jan., ’86. 4
Shoe & L’thr 100 500,0001 226,80C J. & J.
O
57.50C J. & J.
8
8 Jan.,’86. 4
S ix th .......... 100 200,O C
O
8
8 Nov.,’85. 4
State of N.Y* 100 800,O C 359,IOC M. & N.
O
7
T hird.......... 100 1,000,O C 192,IOC J. & J.
f ä Jan.,’86. 3
7
6 Jan.,’ 86. 3
Tradesmen’s 40 1,000,000 217,30C J. & J.
500,000 512,60C Q . - J .
Apr.,’86, 2
U . States ... 1O0
West Side*.. 100 200,000 106,200 J . & J . 10 10 Jan., ’86. 5
t M arcili, 1886, for National banka and March 20, 1886, for State
hanks.
LOCAL
G A S C O M P A N IE S ’ STO C K S A N D B O N D S.
The following is a list of the stocks and bonds of gas companies in
New York and Brooklyn, with details of interest, dividends, &c .
Quotations for these will be found in the C o m m e r c i a l a n d F i n a n c i a l
C h r o n i c l e each week.
Dividends and interest.
G a s Co m p a n i e s .
Par.
Amount.
Period.
Ó
Date.
P
S
Brooklyn Gas-Light..................
Citizens’ Gas-Light (Brooklyn)
Bonds ................................... .
Consolidated Gas.....................
Jersey City & Hoboken............
Metropolitan Bonds................
Mutual (N. Y .)...........................
Bonds........... ..........................
Nassau (Brooklyn)....................
Scrip........................................
People’s (Brooklyn)..................
Bonds, 7 per c e n t................
Bonds, 6 per cent..................
Williamsburgh...........................
Bonds......................................
Metropolitan (Brooklyn)........
Municipal Bonds......................
Fulton Municipal.....................
Bonds......................................
Equitable...................................
Bonds......................................
25 2,000,000 Various
20 1,200,000 Various
1,000 250,000 A. & 0.
100 3543Ó000
20 . 756,000 Quar.
1,000 700,000 F. & A.
100 3,500,000 Quar.
1,000 1,500,000 M. & N.
25 1,000,000 Various
Yaris. 700,000 M. & N.
10 1,000,000 Quar.
1,000 400,000 M. & N.
Varie. 100,000 A. & O.
50 1,000,000 Quar.
1,000 1,000,000 A. & O.
100 1,000,000 J. & J.
1,000 750,000 M. & N.
100 3,000,000
300,000 j . & j .
100 2,000,000
1,000 1,000,000 F. & A.
5 N o v ,1885
3 Jan., 1886
5
3*2 Dee., 1885
213 Feb., 1886
31902
213 Apr., 1886
3
1902
2 Apr., 1886
21« Nov., 1885
1*3 Mar., 1886
»la Nov., 1885
3 Oct., 1885
3 Jan., 1886
3
1900
3 Jan., 1886
313
1888
3 Apr., 1886
6
1900
3 Apr., 1886
6
1900
Ca p it a l .
Co m p a n ie s .
Par. Amount.
American)...
Amer. Exch.
B ow ery.......
Broadway...
Brooklyn (J).
Citizens’ ... t
City..............
Clinton........
Continental t
Eagle............
Empire City.
Exchange...
Farragut___
Firemen’s ...
German Am.
G erm ania...
Globe...........
Greenwich ..
Guardian___
Hamilton. . .
H anover___
Home...........
H ow ard.......
Jefferson. ..t
Kings Co.(t)
Knick’bock’ r
Lafayette (t)
Longlsl.(i) .t
Man.& Build.
Mech’nics’ (t)
Mercantile ..
Merchants’ ..
Montauk(J)..
Nassau(t)_
_
National.. ..
N.Y. Eq’table
N.Y. F ire....
Niagara .......
North River.
Pacific..........
Park.............
People’s .......
Peter Cooper
Phenix(l)___
Rutgers’ .......
Standard .. .
Star..............
Sterling.......
Stuyvesant..
Unit’d States
Westchester.
W’msbg C. (t)
STO C K
[V ol. X L II.
L IS T .
Net
D iv id e n d s .
Surplus,
Jan. 1,
1886.* 1883. 1884 1885. Last Paid.
$
$
10
400,000 686,429 10
50
31.445 10
10
200,000
100
12
300,000 239,204 12
25
14
200,000 339,254 14
25
15
153,000 233,817 15
17
10
300,000 306,939 10
20
10
210,000 162,161 10
70
10
66,426 10
250,000
100
100 1,000,000 1,358,880 15-05 15-40
15
300,000 647,893 15
40
6
59,178 3
100
200,000
7
87,497 7
200,000
30
10
106,921 12
50
200,000
8
57,114 5
17
204,000
14
100 1,000,000 2,039,851 13
10
50 1,000,000 477,887 10
10
50
200,000 107,228 10
30
200,000 352,049 30
25
20,270 none. 3
100
200,000
10
15
150,000 108,920 10
10
50 1,000,000 445,651 10
10
100 3,000,000 1,227,995 10
none.
66,009 3
40
400,000
10
30
200,000 276,373 10
20
20
150,000 191,303 20
6
30
210,000 101,644 6
10
50
150,000
56,525 10
10
35,724 10
50
300,000
6
100
200,000 150,443 6
10
50
21,528 10
250,000
3
9,174 3
50
200,000
50
200,000 107,663 none. 5
10
37,780 10
50
200,000
10
50
200,000 186,338 10
9
63,200 10
37^2 200,000
12
35
210,000 328,671 11
8
100
60,155 4
200,000
10
50
500,000 397,713 12
25
350,000
8
82,858 8
14
25
200,000 339,862 14
10
100
200,000
44,771 10
10
50
200,000
63,238 10
12
20
150,000 205,875 12
10
50 1 ,0 0 0 ,0 0 0 714,167 10
11
25
200,000 147,241 10
7
50
200,000 125,503 7
13,844 none. none.
500,000
100
100
350,000
15,477 none. 4
10
25
200,000 ICO,630 11
10
250,000 227.409 10
25
300,000 226,205 10
10
IP
20
250,000 503,359|20
50
10
Jan., ’86. 5
10
Jan., ’86. 4
12
Jan., ’86. 6
13
Feb.,’86. 6
15
Jan., ’ 86. 71«
6-50 Jan., ’86. 3**
9
Feb., ’86. 4
10
Jan., ’86. 5
15-40 Jan., ’86.7-70
Apr., 86. 71«
15
Jan., ’86. 3
6
7
Feb., '86. 31
«
10
Jan., ’86. 5
Jan., ’86. 4
7
14
Jan., ’86. 713
10
Jan., ’86. 5
10
Jan., ’86. 5
10
Jan., ’ 86. 5
Jan., ’86. 3
6
10
Jan., ’ 86. 5
10
Jan., ’86. 5
10
Jan., ’ 86. 5
none. July,’83. 3
Mar., ’86. 5
10
Jan., '86.10
20
Jan., '86. 3
6
Jan., ’86. 4
8
Jan., ’86. 3
10
Jan., ’86. 2
6
Jan., ’85. 5
5
6
July, ’85. 3
Jan., ’86. 4
9
10
Jan., ’86. 5
10
Jan., ’86. 5
Jan-, ’86. 4
8
Jan., ’86. 6
12
Feb.,’86. 4
Jan., ’86. 5
10
Apr., ’86. 4
6
Jan., ’86. 6
12
Jan., ’86. 5
10
Jan., ’86. 5
10
Jan.,’ 86. 6
12
Jan., '86. 5
10
Jan..,’86. 5
10
Jan., ’86. 31«
7
2
July,’ 85. 2
none. Aug.,’84. 2
Jan., ’86. 5
9
Jan., ’ 86. 5
10
Feb.,’86. 5
10
Jan., ’06.IO
20
* Over all liabilities, including re-insurance, capital and scrip,
t Surplus includes scrip.
(i) Brooklyn.
C IT Y H O R SE
R A IL R O A D
STO C K S A N D B O N D S.
Dividends and interest
R ailroads .
Par.
Amount.
Period.
Rate.
100
Date.
*
50 $700,000 Q’rt’rly. 2 Apr., 1886
5-7 1885 & ’94
1,000 500.000
100 900,000 J. & J. % Jan., 1886
1,000 700,000 J. & J. 7 July, 1900
100 2,100,000 Q .-J . 2 Jan., 1886
1,000 1,500,000 J. & D. 5 June,1904
1914
1,000 500,000 J. & J. 5
«
100 525,000 .. . . ... 31 Feb., 1886
1889
1,000 250.000
7
6
1889
1,000 100.000
«
10 2,000,000 Q .-F . 31 Feb., 1886
Brooklyn City—Stock...............
1st mortgage.......................... 1,000 800,000 J. & J. b Jan., 1902
100 1,000,000
l1
«
Brooklyn City & Newtown —
7
1890
1,000 400.000
A. & O. 4 Apr., 1886
Brooklyn Crosstown—Stock...
100 200.000
1888
1st mortgage bonds............... 1,000 400,000 J. & J. 7
100 500,000 Q .-F . 2 Feb., 1886
Bushwick Av. (Brooklyn)—Stk
1902
1st mortgage.......................... 1,000 400,000 J. & J. 6
4
100 600,000 Q .-J . 1 s Apr., 1886
Central Crosstown—Stock.. . . .
1st mortgage......................... 1,000 250,000 M. & N. 6 Nov., 1922
Cent. ParkN. & E. Riv.—Stock
100 1,800,000 Q .-J . 2 Apr., 1886
Consol, mortgage bonds...... 1,000 1,200,000 J. & D. 7 Dec. 1902
Christopher & 10th St.—Stock.
100 650,000 Q .-F . l 1 Feb., 1886
«
1898
Bonds...................................... 1,000 250,000 A. & 0. 7
3 Aug., 1884
ICO 500,000
Coney Island & B rooklyn.......
75,000 J. & J. 7
1887
3d mortgage........................... 1,000
1903
.
Consolidated......................... 1,000 125,000 J. & ,T 5
«
100 1,200,000 Q .-F . 21 Feb., 1886
D. D. E. B. & Battery—Stock..
1st mortgage, consol............. 500 &c 900,000 J. & D. 7 June,1893
100 1,200,000 F. & A. 6 Feb., 1914
S crip ......................................
100 1,000,00( Q-—J- 2 Apr., 1886
Eighth Avenue—Stock.............
1914
100 1 ,000,000 F. & A. 6
$ crip ......................................
100 748,000 Q .-F . 4 Feb., 1886
42d & Grand St. Ferry—Stock.
1,000 236,000 A. & 0. 7 Apr., 1893
1st mortgage..........................
21 Jan., 1886
«
100 170,000
Grand St & Newtown (Bk’lyn)
1896
1st mortgage.......................... 1,000 175,000 F. & A. 7
100 250,000 Q .-F . 4 Feb., 1886
Houst. W. St. & Pav. F’y —Stk.
500 500,000 J. & J. 7 July, 1894
1st mortgage..........................
100 800,000 October 3
100 1,862,000 J. & J. 5 [Jan., 1886
Second Avenue—Stock . . . . —
1st mortgage......................... 1,000 400,000 M. & N. 5 Nov., 1909
Consol..................................... 1,000 1,050,000 M. & N. 7 Nov?., 1888
Sixth Avenue—Stock................
100 1,500,000 F. & A. 3 Feb., 1886
1,000 500,000 J. & J. 7 July, 1890
1st mortgage.................. .—
100 2,000,000 Q .-F . 4 Feb., 1886
Third Avenue—Stock...............
Bonds...................................... 1,000 2,000,000 J. & J. 7 Jan., 1390
100 600,000 F. & A. 21« Feb., 1886
Twenty-Third Street—Stock...
1st mortgage.......................... 1,000 250,000 M. & N. 7 May, 1893
* This column shows last dividend on stocks, and date of maturity
of bonds.
Atlantic Avenue (Brooklyn)..
Bleecker St. & Fult. F.—Stock.
1st mortgage..........................
Broadway & 7th Ave.—Stock.
1st mortgage..........................
2d mortgage..........................
Broadway (Brooklyn).............
101
KAILROAD EARNINGS
A pril, 1886 J
MONTHLY
Jan.
EARNINGS
F eb .
M arch. A p ril.
OF PRINCIPAL
M ay.
June. 1 J u ly .
RAILROADS.
Aug.
Sept.
Oct.
N ov.
$
88,671
112,58t
109.731
104,273
$
98,097
108,83t
123.68t
98,637
1 D ec.
T o ta l.
$
66,732
82,451
89.276
98,450
96,391
$
68,885
89,615
96,157
97.303
98,830
$
57,005
73,414
85,3oe
82,831
$
54,85f
78,350
88,54t
68,221
$
54.496
72,225
79,749
68,011
61.041
72,345
73,900
70,092
$
73,791
92,04t
86,087
77,35i
*
77,79t
96.386
95,27C
90,523
1,076,79( 1,055,900
1,065,794 1,033,534
1,172.34811,167,020
1,115,698 1,064,748
862,20t 1,057,407
A la b a m a G re a t ¡Southern—
1,203.07t
1,415,514
1,404,056
1,346,135
1,164,335
1,278,154
1,306,000
1,297,825
1,183,761
1,314,913
1,343,362
1,184,080
1,153,470
1,261,085
1,254,020
1,218.772
1,117,002
1,325.71C
1,301,639
1,181,784
1,251,66t
1,452,906
1,391,310
1,243,909
1.329,113
.1,362.983
1,513,046
1,385,585
1,430,226
1,549.831
1,742,06 1
1,676,075
225,630
187,001
201,964
202.537
207,548
J o
96,353
80,387
99,154
85.991
101,444
224,107
252,913
217,340
272,360
241,94t
178,304
218,252
217,576
245,457
199,278
208,672
221,573
239,385
211,257
216,610
206,416
230,451
198,276
105.989
195,9 ro
224,381
224,920
232.522
216,59(1
225,824
261,439
260,357
261,10 .
299,973
300,155
807,04C
231,413
349,503
278,428
308.20C
274.133
313,006
246,062 2.800,680
261,207 2,840,771
288,415 2,796,459
266,909 3,093,514
99,825
115,615
114,726
127,397
111,034
88,094
100,480
122,760
92,152
85,627
115,120
121,898
88,777
101,935
102,282
109,751
86,730
96,229
107,874
97,212
85,079
105,767
129,005
124,231
113,565
112,524
131,513
149,950
142,044
111,011
152,599
154,381
147,943
109,014
157,67t
122,196
123,94'J
109,698
117,441
118,297
127,497
1,209.109
1,392,587
1,448.258
1,307,372
179,053
253,446
266,072
218,094
27o,2U
215,445
337,795
313,542
268,775
267,454
298,630
300,211
290,002
257,040
331,173
287,497
247,112
271,382
323,845
257,262
249,522
316,787
335,20.i
320,938
280,214
381,454
381,746
348,137
290,198
332,219
365.474
303,103
300,097
351,310
375,815
270,181
307,436
300,732
345,306
276,079
284,680
253,356
306,385
308,912
814,195
3,334,978
3,900,793
3,538,605
3,861,235
26,751
55.4«8
45,940
48,682
63,631
31,416
53,045
57,510
58,307
36,240
47,540
56,403
55,688
38,951
56,029
57,646
49,929
37.402
50.022
58,056
52,761
51,606
63,435
74,856
58,050
54,264
75,831
83,172
62,932
57,352
76,934
76,252
72,519
58,289
70,695
68,574
70,932
e i.ia s
58,051
71,228
68,291
47,090
51,530
65,584
57,732
529,319
713,108
762,627
706,467
517,897 588,700
557.384 686,694
573,284 697,910
537.322 680.851
*541,394 *611,726
564,860
600,878
607,281
591,637
559,577
646,730
652,061
591,091
617,251
607,508
068,070
591.20C
702,635
731,503
730,944
668,393
856,398
886,556
859,904
726,005
912,692
934,945
910,964
755,825
858,674
901,619
889,037
767,047
749,915
801,187
753,857
733,038
701,006 8,215.495
749,220 8,810,610
692,712 8,709,275
703,926 7,993,170
2,186,400 2.270,444
2,909,165 2.742.480
2.707,11012.883.597
2,640,035 2,858,258
2,199.421
2,562,773
2,233,891
2,318,053
2,027,060 21,550,804
2,170,918 20,110,868
2,000,299 25,408,012
26,556,427
$
60,575
84.595
88,313
104,791
94,152
1882....................... .......................(296 m .)..
1883.......................
1884.......................
1885.......................
188«....................... ..................... (QiM m A ..
1882....................... ...(1 ,7 8 9 to 1,820 m .)..
1883 ( d ) .................
1884 (d )............... ..(2 ,2 5 9 to 2.340 in .).
188 5(d )................
1886 (d )................ ..(2 .4 0 4 to 2,418 m .)..
B urlington Ccd
252,82t
197,402
213.86t
223,71t
177,563
1882.......................
1883....................... ......... (690 t o 713 m .)..
1884...................... .........(713 to 889 m .)..
1885.......................
1886 ..................... ...................... (990 m .)..
C entral Io w a —
93,031
1882....................... ....... (244 to 276 m .)..
82,593
1883.......................
113,702
1884.......................
86,247
1885...................
80,420
1886*.....................
Chesapeake «fc Ohio—
208,746
1882......................
251,970
1883....................... . ................. (502 m .)..
280,621
1884......................
292,910
1885.......................
261,169
1886
................ ........... ......... (502 m .)..
E lizab e th . L e x . «fc B ig Sandy—
28,710
1882................... ..................... (139 m .)
47,893
1883...................
1884................... ..................... (139 m .)..
47,388
1885................... ..................... 0,39 m .)..
55,641
1886................... ..................... 0 3 9 m .)..
59,278
Chicago «fc A lto n —
1882.......................
585,830
1883.......................
646,386
1884 ............
666.642
1885.......................
646,835
1886....................... ....... ............. (849 m .)..
557,842
C hicago B u rl in gt 011 &; Quincy—
1882....................... ..(2 ,9 2 4 to 3,229 m .).. 1,658,834
1883....................... .(3,229 to 3.322 m .).. ,1.625.680
1884.......................
1,648,220
1885 . . . ................ ..(3 ,4 6 7 to 3,600 m .l. 1,992,484
1886 .....................
1,386,721
Chicago & Eastern Illin o is—
9
1,457,301
1,611,021
1,971,013
1,601,915
1,830,275
1,566,217
2,396,584
2, 108,02t
2,639,110
1,530.838
1,824,130
1,832,451
2,065,070
1,505,201
2,009,872
1,981,127
2,031,904
1.437,104
1.937,916
2,077,182
1,992,485
1,625,006
1,824,705
1,735,199
1,812,834
2,086,858
2,495.124
2,447,495
2,224,304
$
$
94,779
856,724
108,995 1,071,829
149,079 1,165,102
1,076,371
1,349,312 1,458,640 14,773,304
1,536,274 1,312,739 15,909,440
1,461,922 1,235.082 16,291,883
1,603,413 1,253,374 15,571,398
1882........................
1883.......................
1884......................
1885.......................
1886* .................... .......................(251 m .)..
145,464
138.864
125,425
127,034
132,330
127,212
112,269
107,467
109,252
128,405
136,331
139,583
111,048
146,726
143,707
123,881
123,769
108,547
116,066
140,779
128,379
112,309
126,510
132,601
144,143
123,577
116,812
151,763
120,093
128,392
114,055
170,380
158,061
150,514
146,730
172,215
158.220
153,874
169,714
1882....................... ..(4,1 04 to 4,520 m .)..
1883........................
1884.......................
1885....................... . .(4,804 to 4,932 m .).
1886*.....................
1,434,537
1,359,199
1,467,097
1,517,397
1,445,000
1,376.377
1,257,046
1,317,064
1,345,496
1,564,000
1,561,386
2,043,730
1.788,726
2,081,071
2,034,00(1
1,517,569
1,972,271
1,948,636
1,927,264
1,627,933
2,033,514
1,985,763
1,875,231
1,619,431
2,023,181
1,919,902
1,865,400
1,464,927
1,829,285
1,949,545
1,893,076
1,545,198
1,851,200
1,825,348
1,766,911
1,950,710
2,220.684
2,201,241
2,273,878
2,250,975 2,072.973 1,964,709 20,388,725
2,531,128 2,387,662 2,150,913 23.659,822
2,539.796 2,308,877 2.218,998 23,470,998
2,892,474 2,638,420 2,336,256 24,413,273
1,644.936 1,474,176 1,672,93!
1882........................
1883 ..................... ..(3,5 80 to 3.761 m .).. 1.357.622 1,311,395 2,095,292
1884 ..................... .. (3,761 to 3,843 m .).. 1,502,418 1,504.100 1,766,940
1,512,680 1,479,803 1.986,542
1885........................
1886........................
1,328,107 l v
678,5uü 1,988,900
1,668,741
1,754,379
1,822.165
1,770,829
2,110,947
2.157,206
2,070 829
1,932,756
2,043,516
2,213,021
1.996,275
1,997,679
2,059.932
2.180,631
1,976,177
2,036,803
2,211.622
2,403,450
2,027,9.32
1,922,235
2,553,041
2,647,068
2,340,914
2,552,324
2,601,445 2,109,432
2,793,991 2,388,542
2,523,843 1,996,509
2,878,469 2,259,541
1,826,929
1,760,556
1,951,746
1,971,397
23,977,668
25,024,062
23,491,898
24,301,058
327,478
308,465
350,283
331.452
339,762
331,439 413,236
283,601 438,521
331,453 463.952
307.043 458,824
395,904 *517,OOJ
377,288
429,339
567,998
464,892
402,882
449,584
513,340
478,152
374,694
442,878
406,514
470,508
359,459
444,333
466,760
473,523
422,718
495,020
469,130
470,229
522,200
523.498
527,884
600,905
548,852
673.880
642,400
699,884
515,008
583,185
540,959
588,587
364,946
442,987
441.100
405,811
4,962,200
5,515,285
5,781.932
5,814,810
218,599
191,782
170,318
203,444
195,995
188,072 201.723
141,256 226,484
122,686 201,150
172,544 221,186
199,168 *236,368
194.474
193,141
197,822
180,999
190,215
205,540
205,195
192,175
193,372
199,929
192,438
179,276
217,198
190.123
209,515
177,087
237,490
246,517
244,117
200,850
205,644
249,886
250,988
219,256
249,443
249,507
241,145
220,266
223,303
211,204
196.313
194,678
190,564
177,395
203,093
205,706
2,576,103
2,482,824
2.434,780
2,373,407
190,923
185,720
188,236
201,647
199,865
188,798
154,127
164.371
196,079
208,150
199,567
227 475
233,273
222,202
245.544
180.112
173,116
216,820
194,008
208,210
208.208
224.937
187,247
188.835
208,826
212,031
206,386
223,168
228,358
226,702
222,929
228,334
241.133
230,431
238,185
243,241
239,787
242,797
241,225
240,384
260.333
242,381
257,103
242,827
234,425
231,136
252,670
208,814 2,507,135
234,687 2,506,195
239,030 2,658,185
201,710 2,681,547
516,128
463,762
430,302
403.341
404,903
395,293 516,316 550,280 593,922 545,444 523,165
457,535 548,580 598,531 626,018 678,781 709,825
347.586 *398,357 *473,349 *521,816 *391,781 *400.400
395,308 491,463 *438,160 *478,820 525,341 551,603
427,747 *493,584
578,443
699,603
476,356
562,734
599,191
068,680
521,957
568,694
642,213
720,445
567,285
626,363
495,769
635,858
462,459
572,983
448,810 6.404.980
557,939 7,381,546
421,359 h5,552.104
504,179 6,119,053
254.602
323.241
317.98»
427,885
324,032
234,764
312,522
320,392
311,894
341,386
248,476
339,151
331,109
324,400
289,287
362,564
312,723
328,496
320,358
394,434
369,311
379,424
380,216
455,593
412.289
411,380
360,730
409,665
380,180
400,781
341,342 3,351.357
374,945 4,144,275
376,803 3,993.622
408,554 4,119,147
167,548
190,179
186,792
143,850
152,070
163,883
164,954
189,589
129,572
156,971
196,814 188,569 175,113 160,240 148,503 160,157 187,446 199,067
233,360 237.517 229,064 206.322 184,427 203,805 204.863 257,779
218,759 217,660 223,298 179,343 172,853 174.328 172,199 188,007
158,108 *168,454 *173,000 *157,721 *151,470 *155,758 *167,626 *178,735
199,503
203,442
234,617
158,315
*175,541
101,125
173,034
138,414
92,297
152,193
91.012
150,186
124,959
85,708
141,535
81,007
148,406
121,676
93,634
142,035
66.606
132,203
126,285
85,136
76,039
151,730
133.637
116,103
89.555
144,067
125,504
120,426
107.992
163,452
126,432
139,430
141,192
184,956
131,652
150,963
217,023
241.771
211,061
804,773
235,908
220,715
180,656
243,004
860,969 831,392 827.920
979,717 847.439 931,933
826,572 813.699 844,609
915,957 868,715 974,800
782,749 *839,300 *804,000
747,389
699.370
782,830
789,766
748,004
748,803
788,809
822,385
708,302
702,403
727,059
764,607
837.981
772,792
704,233
723,007
922,833
938,385 1,106,852
926,622 1,045,902 1,183.468
837,443 916,065 1,078,544
840,891 934,229 1,112,719
1,101,929
1,119,610
1,090,074
1,069,390
158,483 156,605 167,554
121,942 126,824 204,984
131,512 131,612 142,159
103.603 102,143 154,082
85,480 *121,000 *153,700
140.080
156,967
130,703
127,329
143,055
153,556
134,332
125,778
148,186
166,305
130,640
136,780
140,052
154,078
127,718
134,110
160,531
106,472
129,480
120,349
193,170 204,603
201,900 210,842
166,020 * 184,867
167,288 178,768
170,333
201,930
152,169
167,419
156.880 1,945.532
158,754 2,025,109
150.541 l,7 lá ,3 S 9
160,681 1,678,336
201.883
248,142
164,877
169,772
178,762
189,652
202,931
188,932
166,290
196,256
220.616
215,913
168,111
169,892
180,477
234,151
173,085
160,600
192.317
217,574
173.671
167,544
215.977
217.618
173,188
167,665
292,177
319,713
228,851
242,800
288.253
292,965
245,220
242,461
281,140
270,941
224,500
227,116
264.735
235,972
185,046
207,397
208,577
202,812
107.943
234,259
2,740,227
2,927,533
c2.302.023
c2,412,678
964,527
1,118,735
1,039,317
1,170,749
1,050,021
960.315
1,014,807
1,015,431
1,083,308
1,049;266
1,068,834 953,603 958,130 1,215,490
1,141.337 947,450 1,062,348 1,090,706
1,187,738 1,125,291'1,156,109 1,032,359
i.281,516 1,158,699 L,102,414 1,038,172
*1100905
1,063,765
1,124,776
1,060,104
1,057,332
1,043,912
1,251,127
1,117,313
1,077,487
1,114,513
1,334,170
1,145,366
1,140,978
1,215,932
1,504,465
1,291,714
1,262,340
1,200.902
1,307.394
1,199,596
1,129,022
1,221,509
1,272,924
1,292,127
1,163,319
12,981,432
14,170,248
13,062.465
13,071,336
101,115
113,344
111,010
141,366
115,167
97,616
103,000
112,881
101,147
106,231
82,964
101,820
111.925
109,252
71,187
80,766
100,557
98,994
74,007
86,388
101,023
78,844
05,741
78,534
117.705
81,721
68,311
88,059
105,471
83,816
(80,565,
101,993
114,663
95,824
84.4741
101,382
110,384
105,195
120,763
139,183
126,245
133,795
130,189
154,207
142,185
150,961
140,448
150,749
174,633
158,933
1,129,380
1,299,425
1,428,682
1,339,848
66,371
61,928
73,214
74.2091
94,6151
65,437
63.435
78,368
72,179
98,153
77,606
79,851
100,357
100,771
146,820
70.009
90,037
97,383
111,570
67,610
93,297
95.034
98,438
75,512
91,047
90,583
108,486
73,156
88,239
96,898
116,272
75,170
100,585
96,031
134,221
85,585
98,249
99,208
148,605
86,708
112,524
103,837
160,284
80,905
103.943
95,215
132,994
82,250
75,529
87,588
107,248
906.319
1,058,664
1,114,316
1,305,277
Chicago M ilw a u k e e «fc S t. P a u l.—
C hicago & N orthw estern—
Chic. S t. P a u l M inn . «fe O m aha—
1882 ..................... ..(1 ,0 0 3 io 1.147 m .)..
1883.......................
1884.......................
1885.......................
1886 .......................
Cin. In d . S t. L o u is «fe C hicago—
1882 ..................... ................... (342 m .) .
1883....................... ........... ....... (342 m .)..
1884.......... ............. ....... ............. (342 m .)..
1885 .....................
1886........................
Cincinnati N. O «fe T e x a s P a c .—
1882.......................
1883......................... ..................... (336 m .)..
1884.......................
1885......................... ................... (336 m .) .
1886......................
D enver & B io G ra n d e—
1882........................ . (1,066 to 1,160 m .)..
1883........................ (1,315 to ,l,6 7 9 m .).
18840...................... ..................(1,317 m .)..
18850.....................
1886«..................... ................. (1,317 m .)..
E ast Tenn. V a. & G a .—
- 1882 .......................
1883........................ ....(9 0 2 t o 1,123 m .)..
1884 ..................... .................(1,123 m .)..
1885.........................
1886........................
F lin t «fe Pere M arquette—
1882 ....... ............. .........(318 to 347 m .)..
1883 ....................... ......... (347 to 361 m .)..
1884 .......................
1885 .......................
1886*.....................
G u ll Colorado «fe S a n ta F e —
1882 ..................... ......... (373 to 482 m .)..
1883......................... ....... (482 to 534 m ) ..
1884......... : ............
1885.........................
1886* .....................
III. Cent.—111. L in e & So. D iv .—
1882.........................
1883................... .
.(1,498 to 1,526 m .)..
1884......................... ..(1 ,5 2 6 to 1,666 m .)..
1 8 8 5 ....,...............
1886......................... ..................(1,666 m .)..
Leased L in e s in Io w a —
1882.....................
1883.....................
1884.....................
1885 ...................
1886.....................
In d ian a Bloom . «fe W e ste rn —
1882.........................
1883*.......................
1884*/.....................
1885*/..................... ..................... (532 m .)..
188 6*/.............. .
L ou isville & N a s h v ille 1882 b ......................
1883......................... . (2,028 to 2,065 m .)..
1884.........................
1885......................... .. (2,065 to 2,015 m .)..
1886.........................
M em phis & C h arleston—
1882 ....................... ..................(330 m .)..,
1883.........................
1884.........................
1885........................
• 1886.........................
M ilw au k e e L a k e S . «fe W e s t.—
1882.........................
1888. .......................
1884..........................
1885................ ..
1886* .....................
204,423
268,801
193,222
227,088
203,877
220,380
272,322
291,519
276,698
240.676
283,157
295,461
276,335
210,995
304,897
307,810
274,470
243,525
311,784
278,037
298.824
M
....
182,900
212,507
185,271
211,188
176,305
145,021
156,577
175,961
161.704
149,908
135.400
161,011
189,458
140,040
132,985
164,065
200,170
199,065
171,844
*177,033
1,784,093
1,059,257
1,546,115
1,678,942
c2,165,219
c2,542,943
2,252.988
c l,946,790
228,797 1,019,816
187,614 2,116,041
142,048 1,727,595
200,732 1,849,429
1,174,809
1,021,574
1,059,505
1,126,460
10,806,765
11,039,633
10,47i,442
10,942,926
* Approximate figures. b June, 1882, figures include miscellaneous receipts for tlie whole of the fiscal year ended with that month. Since that time these
receipts have been added to each month’s earnings, and thus distributed evenly through the year, c Embracing corrections found necessary after monthly
totals bad been published, d Includes So. Kansas road. / Not including ind, Dec. & Springf. 0 Not including Utah lines, h Including $185,000 traffic balances.
103
RAILROAD EARNDSTGS
[V ol. XLII,
MONTHLY EARNINGS OF PRINCIPAL RAILROADS-(ConcludecI).
Jan.
F eb.
M inn eapolis & S t . L o u is—
i f f § ...........................................(354 m .)..
m obile <fc O h i o -
'
M ay,
....................................... (580m .)..
N ew Y o r k L ak e E rie & W e s t .—
1882.........................(1,020 to 1.060 m .)..
1883 f ...................... (1,060 to 1,620 m .)..
J 884/.......................
(1,022 m )..
Total.
8
$
t
167,74!
168,52)
151,98,
171,55,
142,322 1,543,423
145,918 1,622,875
145,381 1,795,848
130,488 1,714,752
135,174
134,484
129,323
110,470
.137,47;
150,584
143,0O(
124,53c
157,87!
185,905
100,666
159,79(
207,431
256,27
212,451
225,876
301.05
280.06
253,33
237,18'4
306,482
289,246
234,637
282,577
2,184,445
2,266,042
2,160,412
2,057,381
136,704
170,661
161,957
147,700
186,495
195,468
187,475
165,667
189,78''
216,65?
218,19(
182,116
190,19f
197,796
210,586
192,see
201,711
201,32t
203,73"
191,84t
202,661
205,06
190,00
181,481
210,676
209,999
197,512
193,327
2,102,857
2,328,893
2,358,682
2,134,527
)8 1,756,684
38 2,057,547
34 1,569,508
4 1,451,933
:
:
J
j
1,850,260
2,111,45«
1,784,639
1,501,722
1,843,144
2,580,956
1,801,214
1,737,45?
1,880,214
2.013,134
2,104,375
1,835,064
1,819,01t
2,41l,14e
1,867,85"
1,980,646
1,818£2<
2.180,98)
1,703,331
1,912,52
1,691,404
1,823,588
1,570,385
1,872,887
20,203,469
23,888,705
20,363,320
19,559,054
251,132
215,422
239,050
311,016
3,393,544
3,627.257
3,246,713
3,449,464
205,222
296,311
259,471
2
5
2
5
285,392
306,690
283,531
271,057
298,441
320,151
276,217
295,967
340,49C
391.82S
800,794
327,246
383,347
353,571
281,636
351,011
304,595
365,87"
300,734
339,96c
277,00
810,09/
254,42(
309,741
5
4
1
4
61,673
88,152
82,970
90,222
68,022
89,189
97,017
100,696
70,736
103,037
105,828
101,353
05,801
90,685
95,417
105,35<
71,373
94,045
99,055
105,OS’!
71,825
80,785
97,27S
97,344
07,522
723,437
73,831 1,003,001
87,686 1,034,210
86,405 1,092,354
2
3
6
7
174,843
203,610
183,869
191,767
191,535
219,188
185,824
210,267
222,100
261,711
228,408
250,404
232,774
287,201
270,010
207,374
272,318
331,210
288,495
285,965
261,23e
271,27t
244,810
270,04t
224,758 2,429,738
232,752 2,812,775
.247,103 2,711,152
249.432 2,771,121
3
8
7
476,104
416,635
416,219
474,524
477,516
411,723
587,272
510,427
451,370
545,727
476,811
504,754
590,748
519,795
534,011
530,094
474,80E
483,594
409,152 6,088,131
442,269 5,521,878
507,609 5,490,922
1 704,617 094,087 727,215 772,838 824,709
0 829,857 850,223 1,043,624 1,194,714 1,397,222
5 1,143,123 1,022,438 1,032,602 1,236,560 1,401,511
0 1,012,507 1,000,011 971,289 1,224,955 1,522,285
751,633
1,278,022
1,116,378
1,249,356
240,339
330,730
295,690
307,119
257,135
204,201
364,117
300,69)
282,202
281,799
443,834
470,443
353,709
334,313
457,335
392,574
386,372
341,591
5
9
6
0
402,779
231,023
267,879
274,430
357,152
344,6 lg
354,88t
365,603
276,033
301,901
283,076
312,904
5
1
8
9
53,080
48,297
51,881
47,945
78,698
47,549
54,783
53,799
82,170
78,384
81,262
81,015
08,105
73,659
74,696
79,157
62,415
66,845
09,522
*67,021
56,085
61,835
57,139
*62,637
49,546
61,105
57,055
*01,294
! 3,855,850 4,108,877
7
6
3
3,704,890,3,8
9
4,093,750
4,153,871
3,900,174
3,735,638
4,149,150
4,130,950
3,989,085
3,685,105
4,671,179
4,775,380
4,617,894
3,956,306
4,417,002
4,634,998
4.458,871
4,276,628
4,660,054
4,875,348
4,447,547
4,359,174
4,373,825
4,473,479
3,950,937
3,971,539
4,157,169
3,840,510
3,769,328
4,046,082
9 1,714,730
7 2,810,489
3 2,148,764
4 2,428,294
2.028,459
2,979,094
2,707,792
2,041,852
1,975,993
3,538,033
3,299,015
2,940,750
2,019,017
3,333,217
2,876,451
2,800,383
2,229,513
3,531,43«
2.940,541
2,878,370
2,250,749 1,795,371
3,654,916 2,297,043
2,554,133 2,315,563
2,666,450 2,592,529
229,982
258,691
251,819
266,294
244,380
272,282
250,923
272,277
296,717
317,594
293,147
3.22,961
340,581
382,292
837,387
373,033
421,706
429,834
429,179
425,510
302,922
363,704
371,278
305,998
36,217
44,094
38,299
42,745
40,788
46,785
40,879
45,982
48,296
58,786
48,070
56,259
08,148
71,411
64,276
80,150
99,125
98.205
96,753
95,477
88,528
82,021
84,558
77,735
80,851
77,913
83,090
70,349
758,557
828,900
775,527
810,970
33,240
31,755
23,148
30,974
35,012
35,023
30,880
31,682
45,109
49,205
37,879
41,327
63,173
64,849
51,13')
63,400
113,808
86,247
98,019
88,737
109,112
70,158
88,102
78,033
97,537
65,570
83,397
75,734
799,150
737,890
038,321
696,691
124,027
130,026
131,313
128,433
118,993
122,690
140,777
131,306
130,570
143,491
175,860
149,896
144,753
162,560
185,205
170,203
167,304
167,017
170.107
107,595
152,939
136,820
147,046
122,715
132,291
115,824
118,443
115,614
124,160
1,497,170
1,686,193
1,590,09S
1,544,175
30,437
16,814
23,261
29,629
25,787
20,184
30,553
35,719
38,833
30,734
44,957
48,794
46,821
27.172
46,241
42,879
45,804
23,337
86,132
88,039
43,059
26,944
33,784
37,240
39,574
435,726
460,948
99,083
B0.953
81,725
87,650
130,986
101,758
90,095
87,439
160,037
142,427
120,405
126,170
154,917
141,793
113,230
183,389
162,993
141,408
137,258
131,504
155,334
131,522
104,557
114,861
124,821
130,249
95,108
112,950
60,914
55,410
47,790
52,948
57,048
44,801
47,534
73,041
55,500
44,596
52,817
88,327
71,714
58,267
60,007
83.735
80,732
02,191
75,309
91,350
82,046
75,509
88,377
72,817
74,901
60,854
69,735
75,355
74,108
01,453
72,284
339,003
357,124
252,960
289,156
350,809
319,110
238,721
282,060
365,873
298,943
330.914
270,101
359,111
325,114
394,907
376,390
433,428
359,200
339,504
383,082
462,943
398,508
369,000
370,160
512,758
481,890
333,020
395,402
396,957
408,365
313,205
403,640
352,617
376,864
577,857
815,945
789,562
712,408
859,794
728,207
021,107
489,542
861,394
714,069
712,105
511,615
- - -1
857,780
623,727
605,156
550,387
802,239
632,148
571,702
525,009
834.617 974,051
754,473 941,260
738,587 ,014,802
747,578 ,004,789
917,129
847,003
879,440
859,607
756,109
700,382
819,439
686,850
2 ,755,000 1,092,462 (,035,275
2 ,477,402 1,881,639 ,948,059
2 ,417,710 ,486,827 ,649,214
2 ,331,136 ,518,122 ,768,627
2,626,234
2,625,889
2.414,2381
2,439,279
2,479,290 2S
2,322,393 21
2,319,58612s
2,348,487J
2,
1,525,715
1,560,120
1,125,438
1,207,458
1,331,952
1,518,288
1,170,928
1,133,054
.
J885...........................................(616 in.)..
„1886.. .....................
(616 in.)..
P eoria D eca tu r & E v a n s v i lle 1882
..............................(254 m.)..
1883
..............................(254 m.)..
3 s £ ........... ............................... (254 m .)..
lea«— ................................ ....(254 m .)..
1886 ................................... ....(254 m.)..
Pennsylvania—
(All lines east of Pittsburg & Erie)—
1882
.
(+1,887 to 1,981 m.)..
..........(+1.981 to 2,036 m .)..
1883
J884.................
(+2,036 to 2,202 m.)..
18§o........................(+2,202 to 2,250 m .)..
1886..
. . . . . . . . ..... (t2,250 m.)..
P h ilad elp h ia & R eadin g—
1882........................................... (846 m.)..
1883f........................... (846 to 1,583 m.)..
1884J................................................ (1,583m .)..
500,805
462,564
483,360
55,395
47,993
57,354
55,532
*61,84
67,569
68,175
62,555
53,438
1,290,4211
1,610,089
1,453,802(1.609,241 1,726,610
2,002,342 2,188,144 2,855,673
1,794,645 1.919,502 2,343,973
-------H 1,949,242
289,028
259,757
266,889
325,053
278,3£7
339,407
352,414
356,129
360,562
*392,000
266,139
207,409
317,181
301,097
63.508
69,100
84.043
68,232
75,57
*84,019
48,203
52.954
54,810
52,828
C o l. *fc A u g u sta—
1882 ...................................... (308 m .)..
61,775
1883 ..................... (308 to 337 m.)..
70,618
1884
............. (337 to 363 m.)..
65,376
80,494
IffS ................................................ (363m .)..
Colum bia & G r e e n v ille 1882
..........................(294 m .)..
70.508
1883........... ......................... (294m.)..
71,077
1884
..................... .’.(294 m .)..
50.040
1885 .............................................. (294m .)..
72,343
1 8 8 6 .............................................(294pi.)..
53,714 j
V irg in ia M id la n d 1882
....................................(353m.)..
70,021
1883
....................................(353m .)..
104,388
1884 ................................................ (353m .)..
107,115
1885..................................... (353m.).. 100,004
1886
(353m.).. 92,044
W e ste rn North C a r o li n a 1882
...............(105 to 190 m .)..
13,042
1883
..............(190 to 208 m.)..
20,090
1884
...............(206 to 274 m .)..
29,212
1885
.................................... (274m .)..
33,865
.......................... (274 m )
1886
34,189
®4* L* A lt, & T . H . M ain L in e —
1882
.................................... (195m .)..
107,227
132,093
}§§?............................................... ..(195m .)..
292,077
42,158
43,092
45,728
39,481
38,987
37,308
36,637
110,835
125,825
130,811
124,094
18,548
26,107
31,054
38,586
*45.60«
.
112,499
123.580
119,363
121,135
*113.891
10,194
21,706
33,834
37,289
97,905
102,276
104,912
95,745
114,443
97,207
t f ® i ................................................ (195m .)..
89,256
00,950
71,892
*65,525
58,202
59.040
1886*.... ............................. (138 m .)..
f>i , Aiou ,s
r
San F r a n c is c o 1882
..............................(661 m .).. 254,040
1883
................. (725 to 742m.).. 280,990
1884
..................(776 to 815 m.).. 313,759
1885
........
(815 m.).. 315,933
1830*..
.................. (815 to 871 m.)..
282,007
S t. P a u l M inn . & M an itob a.—
1882............................ (912 to 1,020 m .).. 395,028
1883
........... (1,250 to 1,324 m .).. 493,148
1884
...........(1,327 to 1,471 m.)..
452,570
1885,........ ............................ (1,471m.)..
402,125
1^6*.......
..........................(1,471m.).. 409,176
U nion Pacific—
1882...................... (a 3,300 to 3,942 m .).. 2,097,417
1833...................... (a 3.942 to 4,256 m .).. 1,916,854
1884...................... (tt 4,250 to 4,476 m.).. 1,531,094
1885
........ (a 4,476 to 4,519 m .).. 1,674,949
1886..... .. ......................(4,519 m.). |
"~~
i;428,029
W a b a sh S t. L ou is & P a c ific 1882 ...................... (3,348 to 3,518 m ). 1.229,985
1883
..................... , ,(8,518 m .).. 1.307,783
1884V.....................................(3,549 m .).. 1,251,083
M B S?.................... (3,549 to 2,373 m .).. 1.053,319
1886V* .............
(2,361 to 2,202 m .).. 814,24«
D ec.
N ov .
268,935 373.141
328,158 563,903
520,085 978,956 :
589,964 691,012
594,240 *850,962
280,951
Ä
$
173,71(
151,57t
173,731
172,41t
33
79
>
1
15
480,865
398,613
389,049
430,901
’
Ä
O ct.
122,891
123,291
155,251
132,27(
190,281 219,321
221,789 *246,925
1886..
. . . . . .. . ...........(323m.)..
N orthern Pacific—
1882.. . ........................(972 to 1,419 m.)..
1883
............ (1,535 to 2,365 m.)..
1884
............ (2,449 to 2,453 m .)..
............ (2,453 to 2,691 m .)..
1885
T ear?boM C
là84 and t t » 1m
S ep t.
$
138,415
126,285
173,675
135,55''
130,184
123,727
140,036
108,785
217,201
237,711
252,603
1886..........
(502 m .)..
N orthern C e n t r a l1883........................................... (322 m .)..
18^4.....................................................(323m .)..
S t. L . A lto n &; T . II. B ran ch es—
1882........................................ (121 m .
1883
..............(121 to 138 m . : .
$
78
70
74
53
1885
........................................(384m .)..
226,096 263,934
188«— .................................... >384m.)..
270,924
N e w Y o r k Susq. & W e s t .—
..................... ..................... ..................... (8841,952 m.)..
to 144 51,219
1882
1883
....................................... (144m .)..
70,974
60,697
1884
.......................................(144m .)..
71,704
64,140
1885
(144m.)..
91,093
68,505
........ . .................(144 m j
1886
74.382
89,179
N orfo lk & W e s t . 1882
......
...(428 m .)..
149,659 174,769
..................... ..................... ..................... (428 to 502 m.).
1883
191,344 217,334
18§4..................................................... (502m .)..
225,357 210,298
1888§......... . . f . ...................... (1.533 m.)..
R ichm ond sfc D a n v ille —
1882 ......................................... (757 m.)..
1833 ........................................,757 m .)..
,1884 . .......................(757 to 774 m .)..
Aug.
$
119,52"
110,071
160,24C
131,331
11,304,758
I 1,283,616
1,496,394
1,371,624
1,551,480
1886 ? . . . . . . . .........................(i,622 m .)..
N ew Y o rk
N ew E ngland—
188|......................................... (384m.)..
'
J u ly .
$
128.87Î
152,75S
153,68e
138,88c
174,974
195,262
210.495
174,919
184,652
N ash v iile C h att. & S t. L o u i s 1882
..................(539 to 550 m.) .
Ohio & M ississippi—
J u n e.
)7
J9
75
30
158,590
168,245
101,283
164.494
147,570
;
1888......................................... (528 m .)..
1884
M arch. A p ril.
110,195
107,548
96,491
113,162
120.692
240,139
229,411
322,805
302,663
302,605
271,323
353,884
427,533
385,714
385,767
410,036
398,014
407,448
395,217
425,000
536,937
740,113
702,041
576,011
590,000.
1,775,967
1,073,224
1,540,754
1,563,949
1,635,141
2,324,347
2,391,758
1,905,497
1,975,517
1,134.768
l,07J,758
1,285,314
899,245 :
1,054,584
234,490
262,217
2,312,074 2,427,768
2,363,277 2,351,013
2,110,520| 2,099,898
1,987,1912,067,523
26,897)
44,006
41,513
46,771
»
555,058
856,184
758,229
775,371
6,984,897
10,149,050
12,613,305
11,349,699
348,483 4,225,500
4,250,150
3,702,959
3,079,015
768,584
721,255
759,767
733,413
322,448 3,663,432
334,640 3,845,152
300,710 3,873,724
348,132 3,963,490
250,791
882,037
875,400
832,408
741,150
706,316
1
2,458,812
i
2,273.598
!
+1739453
1,955,396
2.157,909
2,491,035
2,375,899
2,304,990
1
1,378,194 1,204.864 1,149,682 1,418,837 1 .772,544
1,216.409 1.779,841
1,163,654 1,213.946 1,148,4181
1,187,1411,202,032 ;
1,174,322 1,234,298 1 ,427,537
1,114,488 1,069.075 941,356 931,678 1 ,132,306
mHoage,AftW JulYl 1884, ear“ in»8
ÿUeagl
,682,382 ,595,680
,737,182 ,712,830
,427,875 ,460,294
,230,160 ,300,050
11
tt
1'
1!
th« ^ 8 ^ 1 th l
@FedFRASER