The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
T W O S E C T I O N S - ^ E C T I O N .. T W .O
?!ssaBS^ssb^saa
SECTION
FOR INDEX
;■: .
ir W
E
COMPANIES
See pages 145 to 152
H A V E N O E X T R A . 'd o : .I-E8':''.C
P
WILLIAM B- DANA COMPANY, PUBLISHEBS,
F b o n t , P in e & D e p e t s t e h S t s ., N ew Y oke
r /
'‘W
j l p a p w
,'
r~
i y ^aw |
55S5 yl
S^j
> » w >i» ii«ii< |w iiNWiii>i*
P
* *,■!*ty .»
ft» ■■ M
> « **
ft
:< ^
f
SSTABLfM^IBfeS
SANKERS
Entire issues of Bonds purchased
l l|Ul^ l«m »'M M^B^l)^M »W^WV
^ Ii ) M« i:ft^ W »«I^ Wt !i>1< >
« »
I < r Bt W
» «
EN G I N E ER IN 6
M ANAGEM ENT
cm m m m m m
:f-'H-;
: ,V1
^
/ / r v v iO »
^ w &*■&
611 CH ESTNUT ST. PH lLAI
B old Issues of Street Railway.
.'
ji(§ r
(p
' • ' ; y :' ■ ''Wyp
'
:
V
SECURITIES
^S?
5i
liliillf
t i l i i s i i :
gaggjgj
■
IIS
SECTION
OF
THE
Cs0MMERC1AL &f23lReJHIJ3,vx,li£r- jpINANClAL831 Rr<3K'CWf IjHRONICLE.
H'TMBSKHMMBB KBEfl ilTi.'
® ® ® ® ®H2B3t SMB KS B2 53fB*E£iSES
t BHHRNHilHMPCniMMfjMMIQB BMB NHMBMHMS
%'
' "
'
/'
;
■'■•;•
:■'; ''•''''
' y
■ : ■■■■■'•
..' : '
L''fV 'V
'■■:
';y y^
;•
'
Copyrighted In 1920 according to Act of Congress, by WILLIAM B.DANA COMPANY, In office of Librarian of Congress, Washington, D.C.
means
Section.
Railway
Electric
issued twice a year, on the last Saturday
April and October, is furnished without exUa charge to every annual
Financial Chronicle.
subscriber of the Commercial &
Railway and Industrial Section, issued twice a year on the last
Saturday of May and November, is also furnished without extra charge to
The
annual Chronicle subscriber.
every
that
coupon
The Electric Railway Section,
in
No. 2861.
NEW YORK, APRIL 24, 1920.
Vol. 110.
per
to
& i. (end.)"
p.
principal and interest, the
each bond.
The State and City Section, issued semi-annually on the last Saturday
of June and December, is also furnished without extra charge to every annual
or
"Red."
"Guar."
means
means
guaranteed
being endorsed
guaranty
"Trus."
redeemable.
means
as
meao
that the issue of bonds i*
p.m. means
guaranteed, and "guar.
well
coupons as
The letters "p.m."
outstanding.
mile, thus $15,000
means
filed each month with the Inter-State Commerce Commission,
are
restricted to $15,000 for each mile of track.
Earnings Section, issued monthly, containing the sworn
of the steam railway-; of the United States
is likewise
furnished without extra charge to every annual Chronicle subscriber.
The Railway
returns of earnings and expenses
registered certificates without
bonds
as
on
"tr."
or
trustee of the mortgage.
TAX EXEMPTION.—Where there is
mortgage which would
a
provision in bond
to make the interest free from
seem
subscriber of the Chronicle.
the Federal income tax, we indicate the fact in black-faced
The Bank and Quotation Section, issued monthly. Is also furnished
without extra charge to every annual subscriber of the Chronicle.
letters—tf
The
Section, issued yearly, giving the detailed
Convention
Bankers'
proceedings of the annual convention of the American Bankers' Associa¬
tion, Is likewise furnished without extra charge to Chronicle subscribers.
Including the six supplements above named,
within the United States, $13.50 (which in¬
in Europe, and SI 1.50 in Canada.
File covers for the Chronicle are sold at one dollar each (which includes
postage).
File covers for Supplements can be had at same price.
Terms for the Chronicle,
Ten Dollars per annum
are
cludes postage)
CHICAGO
OFFICE.—39
South
La
Salle
LONDON OFFICE.—Edwards & Smith, 1
WILLIAM
B.
DANA
Publishers.
COMPANY.
one
that all further Federal income
recipient of the income.
letters
meaning
ntf,
TIONS USED.
The
following is
abbreviations used
sentation
an
on
succeeding
pages
in the
the_ different
com¬
For example, "Stock, $200,000 ($100)," means
Legis¬
each; "f. p." fol¬
lowing the amount given as outstanding means "full paid."
"Prefmeans "preferred stock."
"Pref. 6% cum." means
lature, $200,000, divided into shares of $100
preferred stock entitled to dividends of 6% per annum, such
paid accumulating, all dividends due and
dividends if not
unpaid to be paid in full for each and every year before the
common
stock receives anything.
"Pref. 6% non-cum."
simply that the stock is entitled to 6% per annum if
earned, but that if unearned in any year the dividend for
that
will not be paid subsequently.
"Div." means dividend.
The last dividend paid is shown under the column headed
year
"Bonds."—"Mort.," "mtge."
or
"Gen. M."
means
the bonds
The word
"Ref. M."
means re¬
"Coll. tr." means collateral trust.
The
are
The denominations in
issued usually follow in parenthesis.
"gold" is usually spelled out, but in some instances
is contracted to
"Conv."
"F-A" is used to
"g.," while
means
sinking fund,
"c."
means coupon;
"c*"
"S. f."
means
means coupon
but
be registered as to principal; "r" means fully registered
registered, convertible into coupon
bonds; "c*&r*" means registerable in either form and con¬
vertible from registered to coupon or the reverse; and "e*&r%
(no coupons); "r*" means
general
exemption
Tax
more
question.
on
the face of the bonds is
on
on
the bonds
or
(if
guaran¬
the stock; also the months
dividend is payable; thus "6 J-J" means
or
mean
February and August; "M-S"
September, and
while "Q-J"
so on;
paeans
means quar¬
(The day when the interest payment is due
February.
generally be determined by noticing when the loans
can
mature, the day of the month there given being in most cases
the
same
as
for
one
of the interest
dates.)
"S.-a."
means
semi-annual.
means
in street railway
parlance all tracks, whether .main line,
siding, switch or
means that each
"ROAD."—The
second
rail
track.
weighs 80
watts,
and
word
"Rails
"track"
are
80-lb.
pounds to
"h.p."
yard,
the
means
girder"
"k.w." means kilo¬
"k.v.a." means
horsepower,
kilo-volt-amperes. ' "P-A-Y-E cars" means pay-as-you-enter
prepayment cars.
"Exts., add'ns and impts." means extensions, additions
and
improvements.
inc."
ized.
"Oth.
means
"Auth."
means
other
or
author¬
"Cal.
year."
authority
income.
calendar year.
means
REFERENCES TO "CHRONICLE."—This supplement
is
expressly intended for use in connection with the invest¬
ment
news
and official reports
in the "Chronicle."
to the volume
"cur."^m($ns currency.
convertible into stock.
that
means
very
terly beginning in January, and "Q-F" quarterly beginning
in
following is the total authorized amount that
be issued under the mortgage.
which
may
means
"M." means mortgage.
consolidated mortgage.
general mortgage.
funding mortgage.
amount next
M."
"con.
"Consol."
or
Only
payable January and July; correspondingly,
per annum
March and
or
"Maturity."
no
has assumed or,is
possible.
yearly of the interest payable
6%
stock, total issue authorized by charter or by Act of
from
have
"INTEREST."—Under this heading is given the rate per
cent
when the interest
and against this is the par value of
we
varied and diverse that
"DATE."—The date of issue
"Stock."—The amount of stock authorized immediately fol¬
single shares.
company
are
free
means
Where
indicated under the word "Date."
"STOCK AND BONDS."—Under these words are shown:
can
this
like
teed) of the dividend payable
lows the word "stock,"
tff
4%.
p.
insert the
we
insert the letters cpt, which
we
features of mortgages are so
pre¬
panies:
means
tax-free,
not
definite information is out of the
explanation of the terms and
the statements of
of
tax covenant
no
tax, at least for the present.
differentiations
TERMS AND ABBREVIA¬
shall be met by the
taxes
normal Federal income tax up to
paying the tax,
source
See terms of Act in V. 107,
Where there is
518, 619.
company pays
EXPLANATIONS OF
1918
and
2% income tax shall be deducted at the
knowledge other than that the
Front, Pine and Depeyster Streets, New York.
Revenue Act of
The
normal
Street.
Drapers' Gardens, E. C.
meaning tax-free.
(approved Feb. 24 1919) provides, however, that only
published from week to week
Frequent reference is therefore made
and page of the
"Chronicle"
as
(V. 110,
p.
000), where fuller information may be found.
Following
also each statement is given a reference to the latest news
item in the "Chronicle"
respecting the company.
such item contains a reference to
the reader can run back at
in black-faced
figures.
As
every
the last preceding item,
pleasure.
Annual reports
^
are
Railways
Electric
||||||s|SECUR1T1ES AND REPORTS
This is
of
one
In using the series it is to be remembered that they are inter-dependent
If utilized together, and with the fresh items of news the Chronicle contains from
the information he needs in seeking a safe and remunerative lodgment for his money.
each company will be found Is given in the closing pages of the book.
Supplements.
six Seotions or
our
publications, complete only as a whole.
week to week, the investor will have all
Index
showing where
A full
ELECTRIC
NORTHERN OHIO
teoorp, In New York on
stock of the Northern
CORPORATION.—A holding co.
Oct. 18 1916 and owns over
99%of the common
Also controls the Kent Water
Ohio Trac. & Lt. Co.
I
CAPITALIZATION.—75.000 shares of common
6 Light Co.
stock (no par value)
$6,000,000 6% cum. pref. stock (par $100): pref. as to assets and
callable at 105 and dlvs.; dlvs. payable Q.-M.
Dividends on pref.
were begun Mar. 1 1917. and paid regularly to and incl. Dec. 1919.
^HSSpytlX'dy
whose direct
under
dlvs.,
stock,
None
& Co., Inc., N. Y.. and B. Wl Olark & Co.. Phlla..
supervision and management the property are oper¬
ated. brought out the $6,000,000 pref. stock in Oct. 1916
10 shares of pref. and 5 shares common stock for $1.000.
basis of
on the
EARNINGS.—Of constituent companies for
Year—
Gross
Expenses
Net
calendar years:
Charges.
Surplus.
$6,183,197 $3,115,353
$2,018,673 $1,096,680
7:293,811
4.814,042
2,479.768
1.773,637
706,131
112^; V. 107, p. 501: V. 109, p. 88§, 2176; V. 110, p. 262,1188.
...$9,298,550
1918.:
—V. 106. p.
Ohio Traction
Northern
Over 99% of the com.
& Light Co.
stock is owned by the Northern Ohio Electric Corp.
Dec. 1902 as successor to the
having exchanged its securities for the com¬
mon and pref. stock of the latter per terms in V. 75, p. 733.
In 1906
acquired control of the Canton-Akron Consol. Ry., and guarantees that
company's $2,500,000 consol. 5s, prln. and int. V. 83, p. 435, 849.
Also
ORGANIZATION.—Incorp. in Ohio in
Northern Ohio Traction Co.,
owns
capital stock of Akron Wadsworth & Western Trac. Co. and
entire
BiaranteesIn March 1909. and int.
xchange its bonds prin.
Common stock listed on N. Y. Stock
Franchises.—The electric light and power properties are operated under
rights without specified limit as to duration.
City railway franchises expire
follows: Akron, 1924", Canton, 1928; Massillon, 1932.
55% of the interurban trackage Is on private right-of-way or subject to franchises without
time limit; franchises for remaining Interurban mileage expire from 1920
Outstanding.
Maturity.
5 g M-S
$1,145,000 Mar 1 1922
$2,000,000, g ($1.000)c»-tfllm. at Columbia Tr.Co.,N. Y.. Trustee
Oanton-Masslllon
1st
mortf 1900
5 g M-H
840,000 May 1x920
$1,000,000. g ($1,000) —tf/ interest at Cleveland Trust Co., Trustee, or
[
at Guaranty Trust Co., New York.
1st M Can & N P. $1,000,000/ 1903
5 g F-A
565.000 Feb 1 1923
gold ($1,000;
c*_tf 1 Int. at Am. Ln. & Tr. Co.. Boston, Trustee.
Bonds.—Of the $2,500,000
consolidated bonds, $1,331,000
are
pledged
and $290,000 are reserved for externa,
S. Reed Anthony. Boston, is also trustee.
V91.
p. 1628, 1765.
Certain of the Canton-Akron Consol. 5s are red. at 102 A
and Int. on 4 weeks* notice and others at par and int.
The Canton-New
Philadelphia bonds may be called as a whole at 105 and Int. on 3 mos.'notice.
under N. O. T. & L. 1st & ref. mtge.,
and
Imp. at 85% of cost.
Dividends.—Pref. stock was Issued In 1911 and dividends of 1H% quar.
regularly paid.
Dividends on com. were begun ln 1906 by the declara¬
The co. in 1916
$4,000,000 for one year, and pledged as security therefor
approximately $9,000,000 corn, stock of the Northern Ohio Traction & Light
Co
Owing to unfavorable financial conditions attributable to the war,
this loan was renewed from year to year.
A plan (see V. 110, p. 262) pro¬
viding for the issuance of $4,000,000 additional pref. stock and a reclassi¬
fication of the present pref. stock was devised under which the co. would
have been able to pay off this loan on Feb. 1 1920.
However, as_the num¬
ber of subscriptions received for the new stock was insufficient, it was de¬
cided to abandon the plan.
The loan has been renewed for one year to
Feb. 1 1921 and $100,000 haS been paid on account.
The co. is to make
like payments quarterly, which amount Is approximately the equivalent
of the 6% div. on the pref. stock, which the co. has agreed to defer until
such time as financial conditions will permit of the sale of securities to meet
the
payment of the loan. V. 110, p. 1188.
obtained a loan of
1919
Interest.
STOCK AND BONDS—
Dale.
Oantou-Akron 1st mortgage,/ 1902
OHIO.
AKRON,
are
tion or 2%, payable
V. 82. p. 1213.
ln
ln
2%
Installments of A% from June 15 1906.
again declared, payable In quar. In¬
quar.
1907
was
In 1908. June, A%\Sept..
Dec., A%.
In 1910. 23^%.
In 1911. 3^%.
In 1912. 4#%.
In
In 1917, March. 1M %; May, 1 A%\ Aug.,
IA %: Nov., 1A %.
Practically all of the common stock being owned by
the Northern Ohio Electric Corp., dividends are no longer reported.
stallments from June 15 1907.
In
1909,
1J4%.
1913 to 1916, 5% per annum.
PLANT.—Line extends from Cleveland
through Aaron, Canton, Mas¬
Philadelphia to Uhrichsville In Tuscarawas County, with
(via Kent), to Wadsworth (via Barberton) and to
East Greenville from Massillon. On Dec. 31 1919 operated 242.20 miles of
track, and operated 5 miles under trackage rights affording an entrance into
Cleveland.
Owns Lakeside Park In Akron and Meyers Lake Park in
Canton.
Also owns 1,011 acres of coal land in Noble County.
Ralls,
70 to 114-lb., standard gauge.
84 Interurban, 265 city and 37 miscel¬
laneous cars.
Does the exclusive commercial electric light and power
business in Akron and supplies energy, directly or indirectly, to 18 other
communities.
2 generating stations with an aggregate installed capacity
of 69,175 k.w.; 17 sub-stations.
A 4-story office building and passenger
terminal in Akron was opened May 1 1918.
New
sillon and
branches
Ravenna
to
REPORT.—For calendar years:
Gross
Net, after
Year—
Earnings.
Taxes.
Fixed
Charges.
$9,227,840 $3,049,325 $1,393,436
7,224,142
2,418,450
1,180,326
Calendar
1919
1918—
Preferred
Balance,
Dividends.
Surplus.
$318,720 $1,337,169
308,760
929.364
OFFICERS.—Pres., B. C. Cobb, N. Y.; V.-P., T. A. Kenney, N. Y.;
& Gen. Mgr., A. C. Blinn; Sec., Chas. II. Lahr; Treas.. James
V.-P.
Sweeney; Asst. Sec. & Asst. Treas., S. E. Wolff and G. H. Bourne; Gen,
Aud.,G. B. Dobbin.—V. 108, p. 2241,12330,12433, 2528; V. 109, p. 371.
477, 1366; V. 110, p. 765.
as
On Oct 19 1915 the
for
an
Indefinite
Ohio Supreme Court held that the franchise granted
period by the Stark County Commissioners in 1892 (cover¬
and Massillon outside the city limits)
ing about 4 A miles between Canton
perpetual as claimed by the company—see V. 101. p. 1371.
The
company appealed to the U S
Supreme Court, and on Jan 28 1918 a de¬
cision in its favor was rendered. V. 106, p. 608.
In Oct. 1919, however, an
agreement was made whereby the co. cut its fares on this portion of the
line in half and moved its tracks to the centre of the highway. V. 109,p. 1306.
In Oct
1917 renewed for 6 years a contract for lighting city of Akron.
Shareholders Jan. 24 1914 sanctioned increase in auth. amount of pref.
stock to $5,000,000 for financing further additions, extensions, &c.
V. 98
p. 74.
On Oct. 2 1916 auth. amount of pref. stock was further Increased
to $10,000,000.
V. 103, p. 1302.
was
not
Fares.—In Sept. 1917 filed a new schedule of Interurban passenger rates
with the Ohio P. U. Commission, raising the rates generally to 2c. a mile.
V.
105, p. 998.
In Sept. 1918 was auth. by the Ohio P. U. Comm. to
fares to 2 A cents per mile where no local franchises
Mar. 3 1919 to 3 cents where franchises permit.
On
Increase Interurban
conflicted
and
on
May 31 1919 an ordinance increasing fares from 5 to 6 cents was submitted
to the people of Akron and defeated by a vote of about five to one.
V. 108,
2241, 2330.
In June 1919 brought out an issue of $4,600,000 7-yr. 6% gold bonds to
provide for the payment of $2,995,000 1st M. 5s which matured on July 1
1919 and to reimburse the co. for construction expenditures.
In connec¬
tion with this financing, $1,450,000 7% secured serial bonds were called
p.
for payment
V. 108, p. 2433.
July 10 1919.
AND BONDS—
STOCK
Interest. Outstanding.
See text
Date.
Stock, com. $10.000.000($ 100)
Pref ,$10,000,000($100)6%cum
1st lien & ref. mtge, g, ($100.1
$500, $1,000, &c.)_c*&r*_J
N-jrvhern
Oblo
Wads &
$500,006
West
guar
Secured bonds
Q-J
1916
Int.
1903
Traction
Light 1st consol
gold
$7,500,000
Ak
5 g F-A
Maturity.
See text
$5,673,400 Apr. 20. 1 >
5 361.500 Aug
1195
payaole in N. Y.
4<fc5gJ-J
or
Cleveland.
3.220,000 Jan
11933
($1.000).•}Int. at Oit. Sav. & Tr. Co., Cleve., Trustee,
c*.tfl
or at
mortgage,/ 1906
($1.000) -tf'
text ($100, V
see
$500 & $1.000) g
First Nat. Bank, New York.
6 g
See text July 1 1933
1919
6 g J-D 1
4,740,000 June 11926
c*—tfjBankers Trust Co., N. Y., Trustee.
Stock.—Of the common stock, $9,100,090 Is outstanding, in addition to
which $899,910 has been subscribed for but not yet issued.
The pre¬
ferred stock Is redeemable, all or part, at
110 and div.
on any
pref. as to div. and assets and has full voting power,
95, p. 48; V. 97, p. 1116
Is
div. date,
v. 92. d. 956: V.
y
'
Bond.*.—-Additional 1st lien and ref. bonds may be Issued (a) par for par
for refunding or acquiring the $6,549,000 underlying bonds; (b) for 85%
of cost of new construction, additions, betterments and extensions and
fc) for 85% of cost or replacement value of additional properties, under
conservative "astrlctions-
The bonds
are
secured
by mortgage
on
entire
underlying liens, and by deposit of $4,000 of 5s and
$1,278,000 of 4s of Nor. Ohio Trac. & Lt. bonds of 1933, $1,331.000 CantonAkron consol. 5s of 1933, $200,000 Akron Wads. & West 5s, $5,000 Canton-
property, subject to
Akron 1st 5s of 1922. $10,000 Canton-Massillon 1st 5s of 1920.
are
pledged
as
security for the $4,740,000 7-yr. 6% bonds.
$5,925 000
Redeemable as
in part, on any int. date at 105 and interest.
The mtge. pro¬
vides for a maintenance and depreciation fund of 20% of gross earnings for
maint. and replacements, or for additions and betterments, against which
no bonds may be issued; also provides for an insurance reserve for damage
claims, &c., of 4% of gross earnings until $100,000 is reached, at which
figure the fund is to be maintained.
Trustees are New York Trust Co.
N. Y., and Citizens Savs. & Trust Co., Cleveland.
V. 103, p. 1210.
Of
the Northern Ohio Trac. & Lt. consols $996,000 are 5s, all outstanding;
the rest 4s.
The 7-yr. 6% bonds are secured by a pledge of $5,925,000 1st
lien & ref. 5s.
Additional 7-yr. bonds may be issued from time to time
under certain conditions upon the deposit of cash'or the pledge of 1st lien
& ref. 5s in the ratio of 125%.
Red. all or in part at any time upon 30 days'
notice.
V. 108, p. 2433.
On Jan. 24 1914 stockholders approved action of directors In
providing
for the payment of Federal income tax upon the various issues of the com¬
pany's bonds
a
whole,
or
STOCK AND BONDS—
M
Date.
Interest. Outstanding.
p
ORGANIZATION.—Chartered
Dec. 30 1899 as a consolidation of the
Watervllet Turnpike & RR. (chartered
1862) and the Troy City Ry. (chartered ln 1850)
See V. 69, p. 1147,
1300; V. 70, p. 77.
Operates under leases to tbe constituent companies,
the Troy & Cohoes RR.. Lansingburgh & Cohoes RR., Waterford & Cohoes
RR., Cohoes Ry. and the Capitol Ry.
Owns 97% of the stock of the
Hudson Valley Ry., 71% of the Waterford & Cohoes RR., 80% of the
Forest Park Ry. and all the capital stock of the Capitol Ry., Cohoes Ry.
Albany Ry. (chartered in 1850), the
ln
and Great Western
Turnpike Road.
City Ry. was sold at foreclosure In 1904 and reorganized as
Ry. Co., with $120,000 stock and $84,000 bonds; all of the stock
and bonds are deposited with the Central Trust Co. of New York as security
for bonds of the Albany Ry.
Tbe Cohoes
Cohoes
Acquisition of Hudson Valley.—In Dec. 1906 acquired a majority of the
Valley Ry. Co. and Increased Its own stock
stock and bonds of the Hudson
from $5,000,000 to $12,500,000 to finance tne purchase.
V. 84, p. 52.
Franchises perpetual except that of the Capitol Ry. (a short line on the
outskirts of Albany), which expires In 1951.
Traffic Agreements.—Has trafric agreements with the Albany Southern
RR., Schenectady Ry. and Hudson Valley Ry. by which cars of the firstare run Into Albany from Rensselaer, cars of the Schenectady
named road
Ry. Into Albany, Troy and Watervliet, and cars of the Hudson Valley Ry.
Troy from Waterford and in Albany.
Electric power is furnished under contract by Adirondack El Pow. Corp.
Strike—Settlement—Wages.—In June 1918 a strike of the co.'s employees
was terminated by Govt, intervention, the men compromising on a wage
increase of 6 A cents per hour.
V. 106, p. 2451; V. 107, p. 503.
On July
31 1919 the men accepted a sliding wage scale retroactive to July 1 1919,
thereby averting a threatened strike.
V. 109. p. 578.
In Aug. 1918 was auth. by the N. Y. P. 8. Comm. to increase fares in
Albany, Troy, Rensselaer and other places from 5 to 6 cents and to 12
cents For some of the longer rides. See V. 107, p. 697.
In Jan. 1920 fares
in these places were increased to 7 cents with the auth. of the P. S. Comm.
V. 110, p. 360.
Neither the company's 4A% debentures, due May 1
1919, nor the
Watervliet Turnpike & RR. 1st and 2d mtge. 6s had been retired to Sept. 24
1919.
No later information.
Into
8TOCK AND
BONDS—
Date.
Interest.
Outstanding.
Maturity
Ma'uritv
4 J-J
$12,500,000
fW text
1901
4t£gM-N
456.000 May ] 1910
($1.000;
rntfflnt. at National Commercial Bank, AlbanyCons mtge. $6,500,000. gold!
1904
4Hg J-D
2.620.000 June 1 2004
($1,000)
c*tf|Jnt. at Centra Trust Co.. N. Y.. Trustee
Albany Ry cons M ($500 000/ 1890
5 g J-J
428.000 Jan 1 1930
gold ($1,000)
c*.ntfllnt. at Central Trust Co., N. Y., trustee
Albany Ry gen M $750,000/ 1897
5 g J-D
496.000 June 1 1947
gold
If\Int. at Central Trust Co.. N.'Y., trustee.
Watervliet Turnpike & ItR—1 1889
6 M-N
350.000 May 1 1919
1st M guar—
ntfj Boston Safe Dep,& Tr. Co., Trustee.
2d M,p& iut guar
ntff 1890
6 M-N
150,000 May 1 1919
1 Metropolitan Trust Oo.
N. Y., Trustee.
Troy City 1st con M, gold.l 1892
5 g A-O
2,000 0"O Oct
1 1942
$2.000,000
c"&r [Int. paid by Trustee. Centra! Trust Co.,N. Y.
Stock (par $100). $12,500.000
Debentures, $1,2o0,000,
—
—.
gold]
—
—
Bonds.—Of the consol. mtge. of 1904. $3,880,000 is reserved to retire prior
No sk. fd. and bonds are notsubj. to call.
Directors ruav fix rate of
Ileus.
on unissued bonds but not exceeding 6%; present issue Is at 4 >4%.
The
debs, may be called on any Int. date on 3 mos
notice at *'a 5% int. rate for
the unexpired term as calculated in standard Int. tables.'*
V. 73 p. 1113.
The Albany Ry. general mortgage of 1897 was for $750,000
of which
Int.
$254,000 was reserved, but consolidation made reservation Inoperative.
The Troy City leaded roads Include Troy & Cohoes. stock $50,000 divs.
under lease. 7%; Lansing-burg & Cohoes. stock. $15,000: diva, under lease
7%.
Tbe Waterford & Cohoes RR. $25,000 stock receive. 7% yearly
under
lease.
continued
$2,500,000. gold.
1906
5 g J-J
$779,000 Jan
11933
& 1 by North Ohio]Int. at Citizens Sav A Trust Co.. Cleveland.
Trac & Light ($1,000) c*_tf I
Trustee, or First Nat. Bank. New York.
guar
COMPANY.
4 shares) Is owned by The Delaware & Hudson Oov
V. 81, p. 1552; V. 82, p. 160.
The D. & H. also owns the entire stock of ths
Troy & New England RR. and the Plattsburg Traction Co. and a half
Interest in the Schenectady Rythe New York State Rys. owning other half.
Entire stock (except
DIVIDENDS.—First quar. div.. 1 A %. was paid May 1 1900;
CANTON-AKRON CONSOLIDATED RAILWAY.
Consol
ALBANY, N. Y.
UNITED TRACTION
to 1944.
Dec
31
dp to and incl
1906 stock
made semi-annual
was
Nov. 1905.
For
year
1906 6^%
was
same rate
paid.
On
increased from $5,000,000 to $12,500,000 and dlvs
(J.-J.) and 4%
paid in 1907, 2% Jan. 1 1908-and
2% each six months thereafter to and incl.
1913.
In 1914, 2%.
None
since.
was
19 8
APB., 1920.J
ELECTRIC
ROAD.—Operates 63.159 miles of first
RAILWAYS
all
ALBIA, IOWA.
112.54 miles of track, of which 94.36 miles owned, connecting
Albany,
Troy, Cohoes, Rensselaer, Watervliet, Lansingburg, Green Island, Waterford, Ac.
Rails, 47 to 141-lb.
Girder and T.
Standard gauge.
Has 486
ALBIA
$2,530,057
2,458,848
2.444.058
1917
1916
Other Inc.
Chgs.&Tax.
$318,640
341,959
409,660
$190,740
161,483
155,627
$642,120
598,798
577,783
Deficit.
def.$132,740
def.
95,356
def.
12,496
(1)
placed In operation March 15
STOCK AND BONDS—
Date.
Com stock $400,000 ($100)—
ORGANIZATION.—Incorp. Aug. 14 1901 as a consolidation of the
Glens Falls Sandy Hill & Fort Edward Street Ry., Warren
County Ry.,
Mechanicville Street Ry., Greenwich & Schuylerville 8treet
Ry., Saratoga Traction Co. and Saratoga Northern Ry., the capital stock
of these roads being exchanged tor stock in the new
company.
V. 73, p.391.
Owns all the stock ($200,000) and all the bonds ($200,000) of the North
River Ry., a road operated in Saratoga by this co.
Franchises perpetual.
Financial Readjustment.—A readjustment of the
company's finances was
effected in 1906 without foreclosure as per plan in V. 82.
p. 100, 1040.
In
March 1906 $2,500,000 5% non-cum. pref. stock was created to
provide for
the convertible features of the debenture "B" bonds.
V. 82, d. 751.
Traffic Agreements.—Has traffic agreements with the United Trac. Co.,
and Greenwich & Johnsonville Ry., by which cars of the Hudson
Valley
Ry. Co. are rim over the lines of the United Trac. Co. from Waterford
to Troy and also In Albany, and cars of this
company are run over the
Greenwich & Johnsonville at Thomson, N. Y.
Interest.
—
Outstanding.
$2,978,300
consolidated
1918
5 g J-J
^Earnings
Dec. 1919.
1906
2 g
474,000
2.500.000
opt)} 1891
6 J-J
Maturity.
-
-
ALLENTOWN, PA.
Jan
Jan
1
1
100,000
Dec. 31
Dec. 31
1918
1917
1,025,015
Other
Income.
$234,890
323,412
$5,705
5,085
Charges &
Taxes.
$358,959
341,737
OFFICERS.—Same
as
trolled by the Lehigh Coal A Navigation Co., which see in V.
105, p. 720),
and through such acquisition control of the Harwood
Electric Co. and other
subsidiaries; (6) a substantial majority of both classes of stock of the
Lehigh
Valley Transit Co., and through such acquisition control of the Lehigh
Valley Light A Power Co.; (c) approximately all the pref. and com. stocks
of companies formerly controlled
by the Northern Central Co.
The con¬
trolled companies supply electric light and
power to 31 cities and towns;
1951
1951
Past due
fastownships are cities and towns, and have charterFranchises70 townships;
7 service to 13 served by interurban railways.
rights in generally, In
the opinion of counsel, are free from burdensome
restrictions, and
Lehigh
Navigation Electric Co. Bonds.—In connection with the acquisition
Co., the mortgage of
Lehigh Navigation Electric Co. was closed, the
Lehigh Coal A Navi¬
gation Co. retaining ownership of the $3,000,000 Series ,rA" bonds issued
thereunder, but giving the Securities Corp. an option on the purchase of
of control of this co. by the Lehigh Power Securities
the
the
same running to 1921.
Industrial Power Co.—This
Secured gold notes,
1917
Interest.
1st M.
s. f. bds., call.
105}
int. date
f
Hagerstown L. A H. Co. of)
any
6 g F-A
See text Aug 1 1927
N. Y. Guar. Tr. Co.. N. Y., trustee.
Outstanding.
1911
5 g M-S
AND BONDS—
$1,375,000
Date.
Interest.
Outstanding.
($100)_.
Co.
~
~
int. date
Williamsport Gas Co 1st M._
1899
5 g F-A
400,000 Feb
1 1939
[ Interest at Girard Trust Co., Phila.
Columbia A Montour El. Co.—
1st M call 105 any Int date/ 1913
6 g F-A
577,200 Feb
2d M call 105 any int date-?
1913
.5 g F-A
567,400 Feb
1 1943
1 1943
..
_
V. 108
}Int. at office of El. Bond ASh.Co.,N. Y. O.
Leh N El Co ($10,000,000) 1st M:
"A" call 107 H any int date- 1913
"B"call at 100 any int date.
Harwood Electric Co.—
1st M call 107^ any int
date
1st A Ref M ($10,000,000)
callable at 107 H
Stroudsburg El LAP 1st M
Schuylkill Gas A El 1st M
Hazelton
Steam
H'ting Co}
1st M callable at 100
Maturity.
Bonds.—Recording tax paid, making them tax-exempt in New York.
Sink,
Electric Bond &
fund of 1H% of bonds authorized from 1917 to 1921; 1922 to 1928,
2%;
1929 to 1938, 3%.
$79,000 in sink, fund April 1 1920.
Callable as a
paid Feb.
1
Aug., H%; none since.
1918-.-
-
Earnings.
$690,850
652,872
574,655
Taxes).
$166,016
151,207
129,378
Interest,
Rentals.
Ac.
$114,733
105,156
101,596
Balance,
Surplus.
$51,283
46,052
27,782
ROAD.—Operated bv third-rail system from Albany via Rensselaer to
Comprises 3/ miles of main line and 9 miles of sidings, with 2
trolley road in Hudson.
Total, 61 miles of
track.
In Feb. 1900 made contract giving It privilege to enter Albany over
the tracks of the United Traction of Albany.
Double-tracking of road be¬
tween Rensselaer and KInderhook Lake completed in 1910.
Operates 19
passenger cars, 6 freight and 2 express cars, 2 express trailers, 2 snow-plows
and 2 electric locomotives.
Rails 70 and 80-Ib. steel; standard gauge.
Also owns a large amusement park at KInderhook Lake.
Hudson.
additional miles of overhead
OFFICERS.—Pres., William Loeb Jr.; V.-P., Richard Sutro; Sec. and
Day; V.-P. and Gen. Mgr., James E. Hewes.—V. 103,
675; V. 105. p. 714; V. 106, p. 2449; V. 107, p. 80; V. 108, p. 169.
Treas.. Irvin W.
1909'
5 J-J
751.700 July 1 1939
Interest at Girard Trust Co., Philadelphia.
1912
6 M-S
2,181.000 Mar 1 1943
Interest at Girard Trust Co., Philadelphia.
6 J-J
25,000 Dec 15 1920
6 A-O
106,300 April 1 19^3
.
5 M-N
<
3,000 Nov 1 1{
/Int. at Hazleton (Pa.) National Bank.
Share Co. will deliver to each subscriber 4 snares of the
The collateral for the notes includes (fl) the entire capital stock of the
Lehigh Navigation Electric Co.; (&) a substantial majority of the stock of
the Lehigh Valley Transit Co.; (c) the bulk of the outstanding stock issue*
of the Northern Central Gas Co., Columbia A Montour Electric Co., and
Northumberland Co. Gas A Elec. Co., as shown In V. 105,
p. 818.
It is
expected that the corporation from time to time will sell part or the securities
deposited under such trust agreement, the proceeds to be used for the pur¬
chase, redemption and cancellation of the notes, by purchase at the lowest
price, or at 101 % and Int., by lot.
Notes are red., all or part, on any int.
date at 101 and int. Pennsylvania 4 mills tax refunded. V. 105. p. 818,498.
Ref. 6s.
Year—
1 1943
1 1943
een
V. 89. p. 1140.
Of the 1st Ref.
6s, $700,000 have been issued and are pledged under the 3-year 7% notes.
Notes.—The 3-year 7% notes are secured by a deposit of $700,000 1st
1919
3.000.000 July
950.000 July
gecurities Corp. stock with each $1,000 of notes when subscriptions have
paid in full.
The stock may be deposited in a voting trust.
whole at 100 and int. on any int. day.
pref., 1H%.
6 J-J
"""Notes.—Over $18,000,000 notes have been subscribed for. The terms *f
subscription provide that 40% be paid upon allotment and the remainder m
called by the co. on written notice of at least 20 days, the
subsequent In¬
stallments to be at least 30 days apart, and no one of said installments to
be for more than 10% of the amount subscribed.
Subscribers have the
right to anticipate all or any part of their subscriptions at any time.
As a
result of calls for payment and of payments Jn anticipation of future calls
the amount of notes outstanding as of July 1 1919 was $16,640,400.
The
—
on
6 J-J
1913
___
gold ($1.000)
First
Ref Mtge
$3,000,000} 1918
6 g M-S
See text
Mar 1 1948
gold ($1,000)
/Empire Trust Co., New York, Trustee.
Three-year notes,
$550,000} 1918
7 g M-S
550.000 Mar 1 1921
gold ($1,000)
/Brooklyn Trust Co., New York, Trustee.
div.
1922-32
Valley Transit Group—See Lehigh Valley Transit Co. below.
Voting Trustees for Stock.—Irving W. Bonbright, Bonbrighfc A Co., Inc.;
George H. Frazier, Brown Bros. A Co.; S. Z. Mitchell, Pres. Elec. Bond A
Share Co.; Lewis E. Pierson, Chairman of Bd. of Irving Nat.
Bank, N. Y.;
S. D. Warriner, Pres. Lehigh Coal A Nav. Co.; G. M. Dahl, V.-P.
Cgase
Nat. Bank, N. Y.; Alexander J. Hemphill, Chairman
Guaranty Tr. Co..
N. Y.; Thomas Newhall, Edw. B. Smith A Co.; Daniel E. Pomeroy. V.-P
Bankers Trust Co., N. Y., and William West, Henry A West, Phila.
2.029.000 Aug'11,.
REPORT.—For year ending Dec. 31:
Fiscal
Gross
Net (after
20.300
mrrnLehigh
1909
5 g M-S
l,42If000 Sept 1 i»
c* tf i Bankers Trust Co., New York. Trustee.
DIVIDENDS.—Initial semi-annual
5 g var
Lehigh Navigation Electric Group—
$1,375,000
F-A
Maturity.
$1,139,000 Sept 1 1946
Int. at office of Henry A West, Phila.
1912
5 g F-A
291,000 Aug 1 1962
1st M. call at Int. at office of EI. Bond A Sh. Co., N.Y.
O,
int. date_>
Nor Cent Gas Co 1st A Ref
1912
5 g F-A
775,000 Aug 1 1962
$4,000,000, call at 105 any Int. at office of El. Bond A Sh. Co., N. Y. O.
Wash.
at 103 any
effective Dec. 1 1918, providing for a one-way rate of 25i cents per mile,
round trip rates to be double the one-way fares.
STOCK
1793.
Maturity.
305.000 shs
Northumb. Co. Gas A EI. Co.—
RR.—Third rail, except In cities.
Pref $2,100,000 5% n-c ($100)
First
mortgage
$1,500,0001
Outstanding.
of any
p.
Bonds of Controlled Companies in Hands of Public as
of June 30 1917—
Northern Central Group— Date.
Interest.
freight and express business and supplies light and power
route.
In June 1918 was auth. by the N. Y. P. S. Comm. to issue $2,151,000
1st Ref. M. 30-year 6% bonds, $1,451,000 to be used to exchange a like
amount of 1st M. 5% bonds and $700,000 to be pledged as
security for
$550,000 3-year notes, the proceeds of the notes being used to reimburse
the treasury, to discharge floating debt outstanding, and for proposed new
construction work amounting to $190,683.
V. 106, p. 2449.
In March
1919 we were informed that the $550,000 notes had been issued, $700,000
1st Ref. 6s being pledged thereunder.
Fares.—In Nov. 1918 the P. 8. Comm. auth. a new schedule of rates
p.
$50,000,-1
care
Corp. may undertake. V. 109,
000($100.$500&$l,000)c*tf/Int. in
passenger,
1917-
formed in 1919 to take
was
STOCK AND BONDS.—
Date.
Stock 605.000 shs (no par val)_
along
1911-
co.
construction work that the Securities
ORGANIZATION.—Incorporated in New York Sept. 14 1909 and Is a
reorganization of the Albany A Hudson RR. Co. sold under foreclosure on
Sept. 8 1909 (per plan V. 89, p. 223).
Off Sept. 18 1909 merged Albany A
Greenbush Bridge Co.
V. 89, p. 720.
Franchises are perpetual.
Does a
Common
see
Other issues
SOUTHERN
very
part of them is perpetual.
For full description of properties.
V. 105, p. 498, and Lehigh Valley Transit Co. below.
See also
V. 105, p. 290 and 818.
Ac.,
1274.
ALBANY
a
substantial
Balance,
Deficit.
$118,364
13,239
for United Traction Co.—V. 89, p. 286;
SECURITIES
(a)
ROAD.—Main line extends from Troy northward along the Hudson
through the villages and towns of Waterford, Mechanicville, Stillwater,
Schuylerville, Thomson, Fort Edward, Sandy Hill, Glens Fails and Cald¬
well to Warrensburg.
The Saratoga Division, which branches off the
main line at
Mechanicville, provides a line from Troy to Round Lake,
Ballston Spa and Saratoga, with a branch from Saratoga
8prings to Glens
Falls, which branch was completed in June 1903.
There fa also a branch
line from Saratoga Springs to Kaydcross Park on Saratoga Lake and an¬
other from Thomson to Greenwich.
Total first track, 116.09 miles; second
track, 12.01 m.; sidings, 8.75 m.; making a total of 136-85 miles of track,
of which 124-38 miles are owned.
Rails. T. girder and grooved, 48 to 141
lbs.
Standard gauge: 70% on private right of way.
Operates 125 cars,
Including 3 freight and 24 service cars.
Company owns Kaydeross Park, at
Saratoga Lake, and Ondawa Park, between Greenwich and Thomson.
P.
POWER
CORPORATION.
ORGANIZATION.—Incorp. July 19 1917 in Del. and has acquired:
All the stock of the Lehigh Navigation Electric Co. (formerly eon*
1 1951
the deb. "A" and "B" bonds Is neither cumulative nor
obligatory.
No int.
has been
paid on either class. The G. F. 8. H. & F. E. 1st M. fell due
July 1 1911. but was extended and is now past due; 2d M. fell due July 1
1913.
Both issues of Stillwater & Mechanicville bonds fell due April 1 1913
Net.
standard gauge.
W. Boyer. Albla.—V. 103, p. 939; V.
105, p. 496.
Bonds.—Of the $4,000,000 M. of 1901, $482,000 are set aside for
prior liens
and $1,290.000 have been deposited as coll. for temporary loans.
The deb.
"B" bonds were conv. Into pref. stock at par to March 1 1917. Int. on
Operating
Revenues.
$1,126,064
60 and 70-lb. T rail;
OFFICERS.—Pres.. Albert L. Fowle; V.-P., Merle R. Walker; Sec.,
M. A. Day, ail of 61 Broadway, N. Y.
City; Treas. A Gen. Mgr., Ralph
($500 and $1,000) gold--_cj Central Trust Co., New York, Trustee,
do
2d M ($500) gold.cf 1893
6 J-J
50.000
past due
lint, at Merchants' Nat. Bank, Glens Falls,
do
3d M ($150.000)ntff 1901
6 A-O
82,000 April 1 1921
(May be called at 100.
Still & Mech first mortgage--? 1893
6 A-O
47,600
past due.
(Bankers Trust Co., New York, Trustee,
do
do
consol mtge—1 1898
6 A-O
202,500
past due.
$250,000
J Glens Falls Trust Co., Glens Falls, Trustee.
EARNINGS—
Year ending—
It is
and Hlteman.
Underlying Liens—
G F S H A F E 1st M (no
14,215
adversely affected by the coal strike during Nov. and
estimated that net earnings would have been
$3,500 more
were
See text
2,222,000 July
6 g
1906
Surplus.
$20,311
16,250
ROAD.—Operates 11 miles of street railway connecting Hocking, Albla
on any
Deb "A" Income. $700,000—
•B" Income. $2,600,000-
$17,500
30,465
had_not this trike occurred.
r1,000,000 (denomination(Interest called at 110 & int. Nat. Bk., Troy.
1,000 gold)
c*tf (May be at Manufacturers'
int. date
Deb
$37,811
104,268
-
LEHIGH
mortgage/ 1901
Bond Int.
$133,900
*1?19
text), 5% non-cumulative, j
First
Q—F
EARNINGS.—Years ending Dec. 31:
Cal. Year—
Gross.
Net,aft.Tax.
Stillwater &
Date.
Maturity.
$400 000
100.000
See text
1916
5 g J-J
350,000
1941
and $100)
cAr.cptllnt. at Empire Trust Co., N. Y., trustee.
bonds.—Of the bonds reported outstanding, $100,000 were issued to cover
new extensions.
Remaining bonds are for extensions and additions.
No
sinking fund and not subject to call.
Dividends.—Quarterly divs. of 1 ^ % on pref. stock were paid from Aug.
I 1917 to and incl. May 1918.
None since.
0% non-cum$100,000 ($10)
1st M $500,000 gold
($1,000/
Valley Railway.
Albany acquired control through
majority of the capital stock.
«
STOCK AND BONDS—
Interest., Outstanding.
-
Pf
Hudson
Common, $3,000,000, par $100
Preferred
($2,500,000
(seel
reorganisation
1918, with contracts to furnish power for 4 large coal mines and the
mining
communities located at these mines.
Franchises expire in 1942.
In Dec. 1906 the United Traction Co. of
a
as a
population of 12,000.
Also supplies power
Tor the operation of 12 miles of the Oentreville A
Albla Ry. Co.
New power
units and 22 miles of transmission lines were
OFFICERS.—Pres., L. F. Loree, N. Y.; V.-P., W. H. Williams, N. Y.;
V.-P., H. B. Weatherwax, Albany; V.-P. & Asst. to Pres.. W. B. Schofield;
Sec., F. M. Olyphant; Aud., D. L. Waters, Albany; Treas., C. A. Hoag;
Comp.. W. E. Eppler, N. Y.; Gen. Mgr., A. E. Reynolds, Albany.
Princi¬
pal office, Albany. V. 108, p. 1276; V. 109, p. 578; V. 110, p. 360.
purchase of
Delaware June 1916
of the Southern Iowa R. A
Light Co. as per plan In V. 103, p. 939.
Does
the light, heat, power,
railway and gas business of Albla, Hocking, Hiteman and
community, serving a
years:
Net.
LIGHT & RAILWAY CO.
ORGANIZATION.—Incorp. In
cars.
EARNINGS.—For cal.
Year—
Gross.
3
main line track and operates in
EARNINGS.—Of combined properties for 12 mos. ended May 31 1919
(inter-group charges eliminated): Gross from oper., $9,389,767; other in¬
$75,208; total. $9,464,975; oper. exp., taxes, maint., A depletion
charges, $6,398,836; net, $3,066,139; Int. and disc., $1,450,206; balance,
$1,615,933.
Proportion of earnings, Incl. interest, accruing to Lehigh
Power Securities Corp. on the basis of securities owned, $1,466,699.
Property, &c.—Generating plants have a present capacity of 99,297 k. w.
448 miles high-voltage transmission lines (over 11,000 volts); gasholder
capacity, 1,266,500 cu. ft.; 167 miles gas mains; 221 miles street and Inter¬
urban railway lines.
Management.—The company Is under the management of the Elec trie
come,
/
_
Bond A Share Co.
OFFICERS.—Pres., E. K. Hall; V.-Ps., G. E. Claflin, Wm. Darbee.
E. W. Hill; Treas., Wm. Reiser; Sec., E. P. Summerson.—
107, p. 402; V. 108, p. 268; V. 109, p. 1793; V. 110, p. 261.
P. B. Sawyer and
V. 106, p. 611; V.
[Vol. 110.
ELECTRIC RAILWAYS
4
Oct. 1 1907;
Lehigh Valley Transit Co.
July 1917 the Lehigh
...
_
...
Power Securities Corp., which set
above, acquired a substantial majority of both classes of this company'*
stock on the basis of $28 per share of com. and $48 per share of pref. stock
Control.—In
2H%.
v. 83, p. 687; 2h% again paid April 1 1907 and 2k%
then dividends were passed until Nov. 1911, when 2% was paid.
In 1912
and 1913,4%; In 1914. May, 2%.
Beginning with June 1914 began paying
1-3 of 1% monthly (v. 99, p. 300).
Dividends no longer
as
entire stock is owned by Lehigh Valley Transit Co.
^"
ORGANIZATION.—Incorp. in Pa. on Nov. 3 1905 and is a reorganize
tion under foreclosure of the Lehigh Valley Traction Co., the Phlladei
phia & Lehigh Valley Traction Co., the Ailentown & Slatington and tht
Coplay Egypt A Ironton Street Ry., as per plan in V. 79. p. 733. 1462
In Oct. 1911 purchased the Montgomery Trac. Co. (V. 93. p. 940), all of
whose bonds and stock are deposited under the Lehigh Valley Transit ref. A
imp. mtge. of 1910: reconstruction of Mont. Trac. completedI Dec.,12 1912
cutting down running time between Ailentown and Philadelphia (City Ilali
from 414 to 2H hours.
An 8-mile cut-off on this division was completed it
1914 and the running time between Ailentown and 69th St. Terminal
V. 105. p. 606.
■,
reported,
ORGANIZATION.—Consolidation by stock ownership of the Easton
Transit Co., the Edison Illuminating Co. of Easton, and the PhllJIpsburg
(N. J.) Horse Car BR. Co. (name changed to Phillipsburg Transit Co.).
Incorporated in New Jersey March 11 1899.
Owns all the stock of the
Co.
Consolidation of
Penn. Motor
Philadelphia, Is now 1 hour and 58 minutes.
In April 1913 purchased controlling Interest In
dated Electric Co. (V. 96, p. 1022).
On June 20
Ized an issue of collateral notes to pay for the purchase.
1772.
Also has half Interest In Norristown
On Dec. 31 1915 purchased the franchises and property
town Trac. Co. (formerly leased) for the sum of $1 and the
stock of Easton Consol)
1913 shareholders author
V. 96. p. 1489
Transit Co. Franchises perpet
of the Quaker
concellatlon o
its indebtedness, all of which was owned by the Lehigh Vail. Transit Co
Under agreement made In July 1907 the Lehigh Valley Transit has \u
Philadelphia terminal In the Philadelphia Rapid Transit station at Cbestnui
Hill.
V. 85. p. 99.
Late In 1912 made a contract for express service with
Adams Express Co.
In 1918, however, upon the taking over of the express
companies by the Federal Govt., this express service was discontinued
V. 108, p. 375.
Conducts through freight service between Ailentown and
LigM^md
Co.
Power.—In March 1913 the Lehigh Valley Light A Power
consolidation of the Ailentown Electric Light &
organized as a
was
owned by
arid numerous smaller companies all previously
the
Transit Company.
Stock authorized, $850,000 (par $100);
standing, $491,100, all owned by the Transit Co.
Does
Co.
Power
Transit
Palmer & Bethlehem
merged Into the
(new) Easton Transit Co. (V. 85, p. 1461) and In 1909 the Easton & South
Bethlehem Trans. Co. was also merged Into the (new) Eastcn Transit Co.
Stock, $2,150,000; all owned by Easton Consolidated Elec.
For decision of the Northampton County Court at Easton, Pa., on Dec.
28 1914 favorable to the Edison Illuminating Co. (a subsidiary), see Lehigh
out¬
entire lighting
and power business in Ailentown, Bethlehem, South Bethlehem. Slating
ton. Catasauqua. Emaus and adjacent territory; power is also wholesaler
to Macungie and to several municipalities along the Transit Oo.'s line
including Coopersburg, Sellersvlile. Souderton and
North Wales. Io
Aug. 1913 the company closed a contract to supply electricity to the Phil¬
adelphia Suburban Gas & Elec. Co., a subsidiary of the Amer. Gas Co.
V. 97, p. 521.
Also has numerous municipal street-lighting contracts
Franchises with one minor
Rates.—In May 1918 filed
effective June
ule,
1
1918,
new
a
STOCK AND
on
tariff, effective July
Kaston A So. Betb.
Co., Phila., or at
in ail
increased minimum charge. V. 107, p. 291. In Sept. 1918
filed jointly with the Phila. Western Ry. a tariff increasing fares to 6 cents
and creating several new zones. V. 107, p. 1101.
In Jan. 1920 applied to
the Penn. P. S. Comm. for auth. to raise zone fares from 6 to 7 cents on
all branches of the system except the Philadelphia line. V. 110, p. 465.
Owns the following stocks:
Cap. Stock
Owned. Tot. issue
$491,100 $491,100
292,100 292,100
100,000 100,000
Easton Consolidated Electric Co. (50% paid)-—-----1,498.8001,600,000
Norristown Transit Co
12,000
24,000
Miscellaneous stocks.--—————-—
——10,200 160.000
Leases Beth. A Nazar. Pass. Ry. for 999 years at 5% on stock and bonds.
Power Co. (common)
Ailentown Bridge Co----—Rittersville Hotel Co
-——
STOCK AND
BONDS—
$3,000,000, par $50Pref. $5,000,000, par $50—
5%, cum after Nov 3 1910-
Common,
First
mortgage,
gold ($1,000)
Consol.
ratge.
gold ($1,000)
Ref & imp mtge
gold ($500 and
Date.
—-
Interest.
Q-F
-
-
---
-
—.
See text
date
150.000 May 1 1929
150.000 Fob
1 1942
1 1929
c**-tf (Int. at co's office or Brown
Bros.&Co.,Phila.
Phil.
($1,000,$500,$100)gc*ntf/Int. at Girard Trust Co.. Phila.. Trustee,
Equip trust "Ser A"
tf
5 M-N
29,750
See text
Equip trust "Ser B"--------- ---5 J-J
65,000
See text
Equip trust "Ser C"
.—5 J-J
150,000
See text
Bonds.—Of the $5,000,000 first mtge., $2,770,000 bear 4% interest and
are all out, and $2,224,000 are 5s.
Int. at the company's office and Brown
Bros. & Co., Phila. The 1st M. bonds,are redeemable on any int. date, the
4s at 105 and the os at 110.
Of the consols, $2,500,000 4s were outstanding,
but $2,146,000 have been exchanged for ref. & impt. bonds.
Int. on consol.
bonds is payable at office of company or Brown Bros. & Co., Phila.
Thase
bonds are not subject to call.
Of the $15,000,000 ref. & impt. bonds
$5,000,000 are reserved to retire 1st M. bonds; $548,000 for consol. mtge.
bonds ($354,000 to take up bonds shown in table and rest for bonds previ¬
ously taken up); $3,334,000 for improvements and $600,000 are deposited
,
Housing Corp.; $548,000 are in treasury.
Bonds are red. at
105 and int. on or before June 1 1920, and 110 and int. thereafter.
V. 92,
p. 187: V. 94, p. 698, 982: V. 95, p. 750.
Int. is payable at office of comwith the U. S.
& Co., Phila. Bonds are listed on the Phila. Stock
trust notes of 1923 are redeemable at par and int. oh
int. day.
Equip, trust "Series A" are payable $4,250 semi-annually, "Series B"
$5,000 semi-annually, and "Series C" $10,000 semi-annually.
Lehigh Valley Lt. A P. bonds are subject to call on any int. date at 105
and interest.
V. 97, p. 365.
Dividends.—Initial div. on pref.. 1%; paid Nov
10 1911.
In 1912,
1913 and 1914. 2%.
In 1915, 3*$%.
Tn 1916 and 1917. 5%.
In 1918,
Feb., 1H%'
None since. V, 106, p. 2123; V. 108, p. 268; V. 110, p. 261.
Total accumulated dividends, 24XA%.
any
EARNINGS.—For years ending Nov. 30 1919 report in V. 110, p. 261):
Owrating
Net after
Other Int.,Amort.
Preferred
Balance,
Revenues. Taxes, Ac.
Income. Disc.,&c.
Dividends.
Surplus.
Fiscal
Year—
1918-19..S3,771,303 $1,044,923 $149,464 $738,122
$456,264
142,835 681,104
348,256
144,756 725,873 (5%)$248,983 204,555
145,210 780,820 (5%) 248,983 219,494
ROAD.—Operates 163.65 miles of railway, of which 151.47 miles owned
and 12.18 miles leased. .The road connects Ailentown, Bethlehem, South
Bethlehem, Hellertown, Nazareth, Siegfried, Northampton, Coplay, Cata¬
sauqua, Egypt, Emaus, Macungie, Slatington, Quakertown, Perkasie, Lansdale, Norristown, Ambler and Phila. 80, 95 and 105-lb. T and 96 and 116-lb.
girder rails.
Owns a large amusement park about midway between Allen
town and Bethlehem.
Owns 293 passenger cars and 63 freight and service
cars.
A 2,650-foot bridge between Ailentown and South Ailentown was
built by the controlled Ailentown Bridge Co. (auth. stock $300,000) and
was
formally opened Nov. 14 1913. See V. 97, p. 1426,1428; V. 98. p. 154
OFFICERS.—Chran. Of Board. Col. H. O. Trexler: Pres., Harrison R.
Fehr; V.-P., E. M. Young; V.-P., P. B. Sawyer; V.-P. & Gen. Mgr.. H. H.
Patterson; Sec. & Treas., Chas. N. Wagner; Aud., W. L. Davis.—V. 107,
p. 291,1101; V. 108, p. 268, 375; V. 109, p. 2263; V. 110, p. 261,465.
1917-18.. 3.320,145
1916-17.. 2,875,074
1915-16.. 2,471,872
H. R* Fehr, Ailentown,, Pa.;
Vlce-P.,
F. A" Hazzard; Asst. Sec. & Asst. Treas.,
Sargent.—V. 97. p. 53.301, 311: V. 98, p. 838; V. 99, p. 1300.
allentown & reading
886,525
1,034.654
1,104,087
Easton Consolidated Electric.
•
April 1913 the Leiigh Valley Transit Co. acquired a controlling in¬
since acquired all stock except (24) directors
shares.
V. 96, p. 1021.
Dividend payments were: July 1900,
on $10 paid in; Sept. 1901
and March and Sept. 1902, 3% on $15 paid In; March 1903 (paio In July)
and Sept. 1903, 4% on $16 paid In.
In Dec. 1905 declared a dividend of
$2 59 and at same time called an assessment of $5 per share on the stock;
the dividend was credited on the assessment, making the stock 50% paid In.
V. 81, p. 1791.
Casn dividends resumed In Oct. 1906 with the payment of
S. H
_
ORGANIZATION.—Incorporated April 25 1898 and leased che Allen
A Reading Electric Street Ry. for 290 years from June 4 1898.
On
Feb. 6 1902 leased for 290 years the Kutztown A Fleetwood Street Ry.
Controls the Kutztown Light, Heat A Power Co.
Connects with United
Traction Co. tracks from Reading, thus forming a through line from Allentown to
Reading.
Notice of an increase in
fare from 5 to 6 cents, except
1 1918, was filed with the
Rosedale, effective Jan.
Dec. 1917.
and
between Reading
P. S. Comm. in
applica¬
Receivership Denied.—On Aug. 11 1919 Judge Wagner denied the
of the Kutztown & Fleetwood Ry. Co. for a receiver
& Reading Traction Co.
The action against the co. was
started in 1913.
V. 109, p. 675.
tion of the stockholders
for the Ailentown
Date.
STOCK AND BONDS.
$50)
$250,0001
Interest.
Outstanding.
Maturity.
$250,000
—
5 g J-J
$250,000 July 1 1930
g, $100,$500 & $l,000-cpt/Interest at Fidelity Trust Co., Phila., trustee
First M Kutztown & Fleetw'dl 1902
5 g J-J
200,000 Jan 11932
$200,000. guar p & L._cptl
1902
5 g J-J
300,000 July 1-1932
First consol mtge, $750,0001
Int. at Integ. Tit. Ins. A Tr. Co., Phila.,trus
* f$500&$1,000) c&r.cptj
5 M-N
.
163,000 May 1 1937
Second consol mtge $300.0001 1907
Allent& Kutz IstM
1900
c&r.tf/Berks County Trust Co., Reading, trustee.
consols, $450,000 are reserved to retire
($500 & $1,000)
Bonds.—Of the $750,000 of new
1917; no sinking
prior liens.
They are subject to call at par since July 1
fund.
The first mortgage bonds are redeemable at par
EARNINGS.—For year ending June 30 1916, gross,
$183,825; net.
$14,463: int., rentals, &c., $77,682; surp., $23,182.
miles main line, 7.50 miles sidings—total.
.
'
OFFICERS.—Pres.. H. E. Abrens, Reading; V.-P., W. D. Mnhn; Sec.,
s
K
Hoffman. Hamburg: Treas.. Geo. B
Shaffer, Readine' Supt , W. J.
Bear, Kutztown.—V. 81, p. 1492; V. 82, p. 216; V. 109, p. 675.
$86,401; other income,
ROAD.—Operates
47.10 miles; 43 cars.
39.60
ALLIANCE,
OHIO.
STARK ELECTRIC RR.—An electric railroad,
ORGANIZATION.—Incorporated in Ohio and is a consolidation in Dee
1902 of the Alliance Electric By. and the Stark Electric Ry.
Rate Increases.—In June 1918 was authorized by the City Council to
charge a 6-cent fare; rate for tickets was increased from 25 for $1 to 20 for
$1.
V. 106. p. 2561.
In July 1318 was authorized by the Ohio P. U.
fares, effective Aug.'1 1918.
authorized to increase freight rates by 25%.
Comm. to increase passenger
In 1918 was
STOCK AND BONDS.
Date,
Interest.
V. 107, p. 403.
Outstanding.
Maturity.
($100)-_
*
Q-J
$1,250 000
See text
$1,000,000, goldf 1903
6 g J-J
830.000 Jan. 1 1928
($1.000) sinking fund, call-/Citizens' Sav. A Tr. Co., Cleveland, trustee.
able at 105
ctf (Int. at United Bank A Sav. Co., Cleveland.
Bonds.—Sinking fund 2% per ann. $170,000 have been retired.
Dividends.—First div., % %, paid July 1908: M % paid auar. to and Incl.
Jan. 1916.
In April 1910, 1 %; same rate quar. to and incl. Apr. 1917;none
to October 1919, when a div. of 1% was paid.
In 1920, Jan., 1%. In
April 1910 also a stock dividend of 25%. V. 90, p. 448, 700.
Stock, $1,500,000
First mtge.
EARNINGS.—For years ending Dec. 31:
Year—
Gross.
Net.
Fixed Charges.
Divs.
Surplus.
$517,688
$137,893
$91,976
$25,000
$20,916
494,161
119,560
86,794
None
32,766
ROAD.—Operates 34 miles of track from Canton to Salem, includim*
Alliance City lines.
Standard gauge.
67 and 70-lb. T rails and 70 and
90-lb. girder rails.
Total mileage, including double track, 36 miles.
An
extension from Alliance to Marlborough and New Baltimore and eventually
to Akron is to be constructed: line partly graded.
OFFICERS.—Pres., Claus Greve; V.-P. & Treas., S. L. Sturgeon; Sec.,
E. S. Cook: Aud.. O. K. Ayers; Gen. Mgr., F. L. Mowry.—V. 102, p. 977;
V. 104, p. 2553; V. 106, p. 2561; V. 107, p. 83, 403.
1919
1918
AMSTERDAM, N. Y,
FONDA
JOHNSTOWN & OLOVERSVILLE RAILROAD
road.
See statement in "Railway A Industrial
Steam and electric
CO.—
Sec."
ANDERSON, IND.
(1)
In
terest in the stock and has
traction co.—a trolley road.
S. H
town
Stock. $750,000 (par
218,000 July 1 1942
Lehigh Valley Transit Co.
604.500 April 1 1943
Lehigh Val L & P mortgage/ 1913
5 g A-O
$2,000,000 ($1,000, $500 &( Lehigh Valley Trust Co., Ailentown,Trustee.
$100) gold-_c*tf (Int. at co's office or Brown Bros.& Co.,
Coil
trust
bonds, $925.0001 1913
6 g J-J
924,200 July 1 1923
Eany or Brown Bros.
Ixchange.
The coll.
12 service cars.
OFFICERS.—Pres.,
Hackett; Sec. A Treas.,
-
15,000 Oct
Balance,
and
1035
Bonds
Int.
—
_
_
Total E. Bond Int. Dies.
—Railway Dept.—Ed.Ill.Co. Con.El. Tax.,Ac. Paid. Surplus.
1916
—$653,262 $206,160 $18,803 $224,963 $67,545 $60,000 $97,418
1915
534.644
133,029
19,833
152,862 67,806 60,000 25,056
1914
475.611
126,907
24,057 150,964 67,577 69.950 13.437
Latest Earnings.—The surplus earnings of the Easton Consolidated Elec¬
tric Co. for the year ending Nov. 30 1918 were $101,756 as against $159,700
for the year ending Nov. 30 1917.
■
ROAD.—Embraces practically the entire street railway system of Easton
and West Easton, Pa., and Philipsburg, N. J., with lines from Easton to
Bethlehem,
South
Bethlehem, Nazareth, and
Phillipsburg, N. j.
total track, 54.389 miles, all standard gauge; operates through cars from
Easton to Bethlehem, South Bethlehem and Ailentown.
93 passenger
Year—j
4-5gJ-D
354,000 Dec 1 H
tf/Commercial Trust Co., Phila., Trustee.
$15,000,0001 1910
5 g J-D
5.115.000 June 1 1960
$1,000) c*tfjLehigh Valley Trust Co., Ailentown, Trustee
150.000
5% guar
Ry Stock--5 M-N
($150,000)
tf
5 F-A
Norristown Transit Co. IstM5%
So Beth E L Co 1st M call at)
105 at any int date—
/
Ailentown Bridge IstM ($500( 1912
5 J-J
<fc $1,000) call at 105 any (Guar. p. A i. by
Beth. & Nazar St
REPORT.—For calendar years.
Oross Earn. Net Inc. Net Inc.
4-5 gM-S
4,994,000 Dec 1 1936
$5,000,000
Guaranty Trust Co., New York, Trustee.
-
office of Edw. B. Smith A
i. by endorsement
of $5,000 d. a. commenced
are subject to call at 105 and
Tbey are guar. p. A
Calendar
1905
ctf
$7,500,000,1 1905
Maturity.
Transit bonds is payable at
company's office.
by the Easton Consol. Elec.
A sinking fund,
June 1 1908; $59,000 have bean retired.
Bonds
int.
V. 83. p. 323; V. 104, p. 2553.
Maturity
Outstanding.
$2,997,350
4,979,687
...
In Jan. 1900 listed
Outstanding.
$50).-Stock (50% paid in)all owned byL.V.T.Co.
Collateral trust $1,300,000 g| 1899
5 g M-N
$1,237,000 May 1 1948
($1,000 and $500)
c*tf tInterest at Girard Trust Co.. Phila., trustee.
Pennsylvania Motor Co lstf 1891
6 A-O
v
60,000 Apr 1 1941
raort. (cannot be called> tf 1 Lack. Tr. & Safe Dep. Co., Scranton. trustee
Eas Palmer & Beth 1st mtge)
1919
6 J-J
200,000 Jan 1 1939
gold $200.000
tfll). «. Mtg & Tr. Co., N V.. trustee.
Eas&So Beth Tr 1st M $500,-/ 1906
5 g J-J
417.000 July 1 1936
000 guargold ($1,000) c*tf [Girard Trust Co.. Philadelphia, trustee.
Bonds.—The cril. bonds have no s. f. and are not subject to call.
Of the
wtal of $1,300,000, $60,000 Is reserved to retire the Penn. Motor bonds,
$2,000 in treas. and $1,000 reserved for small amt. of outstanding scrip of
Ed. 111. Co. Issue is secured by pledge of $2,150,000 stock (entire issue) of
(new) Easton Transit Co.. 12.317 shares (entire issue) of Edison Ilium,
stock and 2.400 shares (the entire issue) of Penn
Motor stock. Int. on
class rates and an
Name of Company—
Lehigh Valley Light A
Interest.
3Jock $1,500,000 (par
p. 2123.
In increases
divisions, andJuly 1918
20 1918, providing for increases
the
Date.
fare sched¬
providing for increases in local and limited
n
filed
V. 100, p. 140.
BONDS.-—The collateral trust 6s were
Philadelphia Stock Exchange.
Valley Transit Go. In
exception, are perpetual.
with the Penn. P. S. Comm. a new
all commutation rates on all divisions.
V. 106.
fjassenger fares on the Philadelphia and Slatington
Subsidiaries.—On Jan. 3 1908 the (old) Easton
Co., the Easton & Bethlehem Transit Co., the Easton
Street Ry. and the Northampton Central Street Ry. were
UNION TRACTION CO. OF INDIANA.—A trolley road.
ORGANIZATION.—Tncorp. on May 13 1912 as a consolidation of the
}ld Union Traction Co. of Indiana (incorp, May 28 1903) and the Indiana
Union Trac. Co. (incorp. June 9 1903), per plan in V. 94, p. 1119. 1185: V.
819; and as a result of which capital was materially reduced.
The
legality of the consolidation was upheld in a decision by the Supreme
Court of Indiana In the fall of 1915.
The Indiana Union Traction Co.
bad previously acquired the Indiana Northern Traction Co. (V. 81, p.
95, p.
ELECTRIC
Apr., 1920. j
1848), Muncie A Union City Traction Co. (V. 83, p. 96) and Muncie
H&rtf. A Ft. W. Ry. (V. 82, p. 805, 869, 1041).
The latter company wa*
the Indiana Union Trac. at a rentai (In addition to operating
exp.. Int. on bonds. Ac.). equivalent to 5% on Muo. Hartf. & Ft. W. Ry
$500.000cum. pref. stock; V. 83, p. 96.
Theold Union Trac. Co. of Indiam
was a consolidation of the Union Trac. Co. of Indiana (incorp. in June 1899)
leased to
and the
Indianapolis Northern Trac. Co. (incorp. in April 1902).
Leases
of its 5% bonds.
$49,500 of the $50,000
stock of the Traction Light & Power Co. and a one-fourth Interest in the
United Tractions Coal Co., which owns and leases valuable coal lands to
insure the co. an adequate coal supply.
(See Shirley Realty Co. of Ind
the Broad Ripple Natatorium Co. and owns $2,000
Also owns the $100,000 1st M. 6soutstanding and
~
in V. 104, p. 1805.)
The Indianapolis Northern Traction assumed payment of the prin.
int. of half ($200,000) of the bonds of the Broad Ripple Traction Co.
under Indianapolis).
and
(see
obligations incurred in leasing that company and acquiring that stock,
consideration of further
line, a total of about
Lease again modified as of June 30 1916 lb
and in building the Muncie-Newcastle line, and in
for improving power facilities for that
advances
(V.
$521,000
connection
100,
with
p. 975).
the lease of the
Muncie A Portland Traction Co. to the
Ind. Newc. & Eastern Trac. Co.,
of all taxes, interest on bonds, a sum
equivalent to 5% on the pref. stock, and a definite annual payment of
$1,050 on the com. stock.
A further amount, up to $10,420 a year, is
payable under certain conditions.
Compare V. 100, p. 975.
Leases the Muncio A Portland Traction Co. for 999 years from June 30
1916; see terms below.
ORGANIZATION.—Incorp. in Indiana on June 10 1912 as successor to
& Toledo Elec. Ry., sold at foreclosure.
Has
right-of-way minimum width 66 ft., except in corporate limits,
where shortest franchise expires Apr. 7 1933.
Under favorable contract
with Ind. Trac. A Term. Go. extending to 1933, operates through city into
Indianapolis interurban terminal.
the Indianapolis Newcastle
private
STOCK AND
Application for Receivership Denied..—In Oct. 1919 the Federal District
application of a bondholder to have a receiver appointed
co.
V. 109, p. 1367.
Compare Y. 109, p. 1274.
for the
Comm. denied the co. an increase
In fare from 5 to 7 cents on the Broad Ripple line beyond Fairfield Ave. and
increases to 6 cents on the local lines in Anderson.
Muncie, Marion and
1917 the Ind. P. S.
Elwood, but permitted it to increase the rate for mileage books on its lines
to 2 cents per mile, commutation tickets to 1 H cents per mile (from 1 M
cents) and school passengers to 1 1-5 cents a mile.
Effective June 10 1918
was auth. by the Ind. P. S. Comm. to increase fares from 2 to 21^ cents per
mile for the duration of the war.
V. 106, p. 2346.
Early in 1918 wa.auth. to increase freight rates.
In July 1918 applied to the Inter-State
Commerce Comm. for authority to increase rates on both one-way and
round-trip tickets and to increase class and commodity rates by 25%.
V. 107,
p. 83.
On Jan. 10 1919 was auth. by the Ind. P. S. Comm. to
increase mterurban rates from 2 H to 2
cents per mile, effective till June 30
1919.
V. 108, p. 172.
Compare V. 108, p. 81. In April 1920, however.wr
were informed that the increased rates were still in effect.
First
mtge
$1,000
Refinancing.—On June 14 1919 the Ind. P. S. Comm. approved the exten¬
gen.M 5s due July 1 1919 to July 1 1922 at 6% (com¬
108, p. 2434) aud of $1,200,000 Ind. New Castle & Eastern Trac.
bonds due June 1 1919 to June 1 1922 at 6%.
Both issues of ex¬
tended bonds are red. at 101H and int. on any int. date.
The Comm. also
pare V.
Co. 6%
approved the extension of $328,000 Marion City Ry. 6s due May 1 1919 to
May 1 1924 at 6%.
V. 108, p. 2630.
The co. also Issued $150,000 3-yr. promissory notes dated July 1 1919 to
replace a similar issue due on that date.
The new notes are secured
by $40,000 par value 6f the co's stock, $18,017 com. stock of Shirley Realty
Co. and $25,000 1st Mtge. 6s of 1928 of Traction, Light & Power Co.
V.
p.
2630.
Interest.
Date.
STOCK AND BONDS.
Outstanmng.
Maturity.
$5.000.000
Common, $5,000.000
Maturity
$500,000
See text.
500,000
See text.
$1,500,000 gold! 1912
6 g J-D
1,200,000 June 11922
c*tf/lnt. at Fidelity Tru3t Co., Phila., Trustee
-
bonds may be issued upon fulfilment
extensions, impts., betterments or ac¬
Red. as a whole (but not less) on any
Int. date on 8 weeks'notice at 10m and int.
V. 94, p. 1695. No sink. fund.
Originally matured June 1 1919, but have been extended to June 1 1922.
Bonds.—Remaining
1st
M.
certain covenants for 75% of cost of
ROAD.—Included In
See cexi
1,000,000
pref, $1,000,000, 5% cum.
A-0
See text
3,000,000
2d pref, $3,000,000 (see text).
J-J 10
1,620.000 July
1 1933
Ind Un Traction 1st M $5,-1 1903
6 g A-O
000,000 ($1,000) gold., tf (Interest at Girard Trust Co., Phiia.. trustee
Union Tr Co of Ind 1st genM 1
1899
6 g J-J
4,623.000 July 1 1922
$5.090.000g($1.00Q)cArUf /Equitable Tr. Co., New York, trustee
1st
Union Traction Co. of Indiana.—V.
1626, 1695; Y. 96, p. 135; V. 100, p. 982; V. 102, p. 2341; V.
(a)
94,
1565,
p
108, p. 2629.
The Muncie & Portland Traction.—A trolley road.
ORGANIZATION.—Incorporated July 1905 in Indiana.
Franchises in
towns 50 years; in counties perpetual.
Lease.—Was leased as of June 30 1916 for 999 years to the Indianapolis
Newcastle A Eastern Trac. Co.
In connection therewith the co.'s capital¬
ization was changed from $1,000,000 stock, all of one class, to $500,000
preferred and $500,000 common.
The lease provides for the payment of
vil taxes, a sum equal to 6% on the pref. stock, a definite_annual payment
yf $4,530 and the payment of a furth
of a further amount up to $17,370 a year confcingent upon certain conditions.
•lties and
OFFICERS.—Pres., E. B. Ball; V.-P., W. C. Ball; Sec., G. A. Ball
Treas., F. C. Ball, all of Muncie, Ind.: Asst. Sec.. W. H. Forse Jr., Anderon. Ind.—V. 82. p. 1438; V. 102, p. 2342; V. 106, p. 1037, 1901.
sion of $4,623,000 1st
108,
V.10S,p.2629.
Outstanding.
Interest.
Date.
BONDS—
Common $500,000 ($100)
Pref $500,000 o% cum ($100)
quisition of unencumbered properties.
which see below.
Court refused the
Fares.—In Dec.
Indianapolis Newcastle & Eastern Traction Co.
(1)
Leased to Union Traction Co. of Indiana on Oct. 25 1912 for 999 years.
The lease provides for the payment
Bond Extension.—See under United Traction Co. above and
Leases Indianapolis Newcastle A East. Trac. Co. for 99 years from Oct. 25
Lease modified on Aug. 21 1914 and com. & pref. stocks of the
Ind. New. & E. Trac. Co. formerly held were transferred in satisfaction
1912.
of
5
RAILWAYS
anniston,
ala.
ANNISTON ELECTRIC & GAS CO.
Merged In March 1915 with the Alabama Power Co.. a subsidiary of the
Alabama Trac., Lt. & Pow. Co., for statement of which see our "Ry. A
Industrial Section."
_____________
asbury
park,
n.
j.
ATLANTIC COAST ELECTRIC RY.—Trolley.
ORGANIZATION.—Incorporated in New Jersey on Dec. 8 1905 as suc¬
cessor to the Atlantic Coast Electric Railroad Co., sold under foreclosure ot
:.he general mortgage of the latter.
Leases the Seashoro Electric Ry. of
Asbury Park until June 6 1937 at $10,000 per year and owns $150,000 of the
$200,000 total capital stock of that company (making net rental $2,500),
and owns all of the stock of the West End & Long Branch Ry. and of the
3 1896 until
6% on stock
Asbury Park A Sea Girt RR.; the former is leased from Aug.
July 17 1945 at a nominal rental, and the latter for 99 years at
from Aug. 27 1898; both stock and bonds of Asb.
Also entire stock ($100,000) of the Atlantic Coast
Park & S. G. are owned.
Electric Light Co., which
6%
150,000
July 11922
49,000
—.
1897
6 g J-D
36.000
Dec 11927
$250,000 a f sub to call 105./Interest at Guar. Trust & Safe Deposit Co
($500 and $1,000)
c*j 1 Philadelphia, trustee.
Marlon City 1st M $400,0001 1895
6 g M-N
328,000 May 1 192!
goid ($1,000)
ctf/Equitable Trust Co., New York, trustee.
Indianapolis North Trac 1st! 1902
5 g J-J
5,000,000 July 1 193i
mtge $5,000,000 g ($1,000)-! Equitable Trust Co., New York, trustee,
guar p & 1 by Uu Trace* tf!
Indiana North Trac 1st mtge ( 1903
5 g A-O
500,000 Oct 11933
$500,000 gold ($100, $500] Interest at Trenton (N. J.) Trust & Safe
and $1,009) guar
c*tf ( i DepotitCo., trustee.
M U A Ft W pref stock cum..
5%
500,000
See texi
do
do
first mtge $1,-1 1905
5 g J-J
916.000 Jan
1193000,000 gold ($1 .OOOi.c* tf I Int. at Guard. Sav. A Tr. Co., dev., trustee
Muncie A Un C M $925,0001
190&
5 g J-J
925,000 July 1 193fc
guar gold ($1.000)
c*tf (Int. at Fidelity Trust Co., Phila., trustee.
supplies the electric lights of Asbury Park, Allenhurst, Belmar, Ocean
Beach, Coino and Spring Lake.
The Seacoast Trac. Co. (capital $100,000),
running from Belmar to Spring Lake, 2 miles, has been leased to the Atlantic
Coast Elec. Ry. for 99 years; its stock and bonds are owned.
Franchise In
Belmar expires in 1947; in Asbury Park In 1937; in Long Branch, some ex¬
pire In 1945 and others are perpetual; in Ocean Township, perpetual; in Sea
Girt, expire in 1926 and 1956: franchises of Seacoast Trac. Co. are perpetual,
Decision.—On Dec. 1 1916 the Supreme Court at Trenton set aside an
order of the Board of P. U. Comm. requiring the company to give transfers
in Asbury Park and Bradley Beach, holding that the utility board cannot
violate a contract between the company and the city by imposing addi¬
tional burdens or lowering rates, unless the company consents.
The case
is now pending in the U. S. Supreme Court.
V. 106, p. 2755.
Fares.—In Dec. 1918 the N. J. P. U. Comm., in acting upon the com¬
pany's application for a 7-cent fare, auth. an increase in fares from 5 to 6
cents.
vT107, p. 2187.
5 M-S
33,000 Mar 1 1931
by Un.Tr.Co.of Ind. j Int. at Security Tr. Co., Indianap., trustee.
1895
5 M-N
800,000 May
1945
000
ntfllnt. at Columbia Trust Co., N. Y., Trustee.
General mortgage $1,000,000!
1906
5 g J-J
1,000,000 July 1 1945
gold ($1,000)
ctf/Interest at Central Trust Co., N .Y.,Trustee.
Seashore Electric Ry stock..
5
200,000
Seashore
Electric
Ry
first) 1892
6 g J-J
200,000 Jan. 1 1921
mortgage $200,000
tf/lnt. atN. Y. Trust Co.. N. Y.
Atlantic Coast Electric Light/
5 J-D
201,000 June 1 1946
first mortgage gold
ntfjlnt. at Asbury Park A Ocean Grove Bank,
( Asb. Pk. Morton Tr. Co., N.Y., Trustee.
Neptune Electric Co
6%
36.000 'wi
i
Bonds.—Of the $1,000,000 1st,5s, $200,000 are reserved to retire a like
amount of Seashore Ky. 6s.
The latter are subject to cal) at 105.
They
fell due originally in Jan. 1917, but have been extended from year to year.
Entire bonds ($50,000) and stock ($100,000) of the Asbury Park & Sea
Girt and entire bonds and stock of the Seacoast Traction Co. ($100,000
each) are deposited under the new general mortgage.
Dividends.—In 1906 and 1907, 6%.
In 1908 to 1916, 3%; none since.
Collateral trust notes.
Car trust ctfs Series A
Citizens' St Ry (Mun)
—
1st Ml
BroadRippleNatatoriumlstMl
Guar,
Slock.—Divs.
on
2d
pref.
stock
are
Indiana Union Traction bonds of 1903, $3,380,000
reserved for extensions and improvements, but under terms of con¬
Bonds.—Of
were
solidation
are
from 1% semi-annually in
July 1918 and thereafter
cum.
1913, scaling upward to 3% semi-annually in
held
the
canceled.
$494,000
(included in amount outstanding).
agreement of 1912 these bonds have been
aljve
in
the sinking fund
Sinking fund, IX% per annum or outstanding bonds, became operative
jo July 1 1904.
Fund is to be invested in the bonds at not above 105 and
Int., and bonds may be drawn at 105 and int. on any int. date.
$173,000
Union Trac. Co. of Ind. Gen. M. bonds are in treasury, including $150,000
pledged to secure the collateral trust notes: remaining bonds are reserved
for underlying bonds.
See V. 71. p. 1013.
They originally bore interest
at 5% and matured July 1 1919, but have been extended to July 1 1922 at
6%.' Bonds are listed on the Philadelphia Stock Exchange.
The Indiana
Northern Traction bonds are subject to call at 105 and interest on six
weeks' notice.
They are guaranteed, principal and interest, by Indiana
Union Traction Co.
V. 82, p. 805?
The Muncie llartford & Fort Wayne
bonds can be called Jan. 1 1925, or after, at par.
A sinking fund on those
bonds of 2A6 % of gross earnings per annum began July 1 1905.
See V. 80,
p. 1059.
$84,000 have been retired.
The Muncie & Union City bonds
are subject to call at 105 and guar., prin. and int., by Indiana Union Trac¬
tion,
The Marion City first mtge. bonds originally matured May 1 1915,
but were extended to May 1 1919, and again to May 1 1924.
The collateral
trust notes were issued to refund a like amount of Anderson Elec. St. Ry.
bonds which matured in 1912.
They fell due July 1 1917, but were ex¬
tended to July 1 1919, and again to July 1 1922.
.
Dividends.—5% was paid on first pref. stock to April 1914.
None
on second pref. slock have not been paid since July 1912.
since.
REPORT.—For cal. year, incl. Muncle-Portland
Calendar
Year—
1919
1918
Gross
Earnings.
$3,781,554
3,198.821
Net (after
Taxes'*.
$899,186
823,424
Passengers carried in 1919,
ROAD.—Owns
the
Other
Income.
line:
Bond
Sinking
Fund.
lines:
63,546
98,543
„
Muncie-Anderson-Indianapolis,
Indianapolis and Fort Wayne In conjunction with the Fort Wayne &
Nor. Ind. Trac. Co.
Provides package freight service between IndiatiapplL
and Muncie and Indianapolis and Logansport and Peru, and to all othef
points on the system.
Operates through freight service between In
dianapoils and Fort Wayne.
By contract until Nov. 1933 cars are rue
over tracks of
Indianapolis Street Ry. in Indianapolis.
Carries express
matter per contract with Wells,
Fargo Express Co.
A large centra!
power station, with necessary storage batteries
at Anderson, operated on
cween
three-phase system, with 19 sub-stations,
batteries, operates entire system.
likewise equipped with storage
EQUIPMENT.—Jan. 1 1919, 95 city cars, 53 suburban, 93 Interurban
30 freight and 89 service cars; total, 360.
OFFICERS.—Pres., A. W. Brady, Anderson; V.-P., Philip Matter
Marion;
Sec. & Treas., Wm. H. Forse Jr.. Anderson; Gen. Mgr., H. A.
NicholL
General offices, Anderson, Ind.—V. 107, p. 83: V. 108, p. $1,
172, 974, 2434. 2630; V. 109, p. 1274, 1367; V. 110, p. 1090.
5.85 miles; Asbury Park to Pleasure
report.—Years ending Dec. 31:
1919.
1918.
1917.
Net earnings..$122,111
x
$13,450
Mauasquan,
Bay with the
1915.
1916.
earnings..$458,3.32 $406,967 $424,934
Oper. expenses._x336,221 x393,517
373,711
Gross
.1914.
$420,708 $409,007 $428,763
273,299
255,872
n
ashtabula,
A. R. Asay; Treas., G. B.
V. 107, p. 801, 2187.
ohio.
/:
ASHTABULA RAPID TRANSIT CO.
this road was acquired by
A Ohio Rv., and associates.
In Feb. 1907 control of
of the Penn
248,953
$51,224 $147,409 $153,135 $179,810
Includes taxes.
Balance,
Deficit.
5614 miles;
Anderson-Marion-Wabash, 53^ miles; Alexandria-Elwood,
fipt-on, 20 miles;
Indianapolls-Kokomo-Logansport, 80 miles; Kokomo
Peru, 19M miles; Muncie-unlon City, 33 miles;
Anderson-Mlddletown
9)4 miles; also 10 miles of city llnea In Anderson; 14
miles in Marion
16 miles In Muncie, and 4 miles In Elwood; total, 272 miles of interurbao
and i4H miles of city lines.
Also leases Muncie-llartford City-Bluffton
line, 42 miles; Indiaaapolis-Newcastle-Muncie line, 62 \4 miles, and Muncie
Portland line, 32 miles; grand total, 453 miles.
Through cars are run be^
a
ROAD.—Belt line in Asbury Park,
Bay and North Long Branch. 14.60 miles; Asbury Park to
11.16 miles; total track, 36.08 miles.
Connects at Pleasure
New York A Long Branch Steamboat Co.
sr$l8,035
17,484,198, against 16,597,199 in 1918.
following
_
Cade.—V. 81, p.
Int., &c.
$17,518
$898,669
21,627
880,048
$1,000,000
\
OFFICERS,—Pres., S. F. Hazelrigg; Sec.,
1435, 1722; V. 106, p. 2755;
Divs.
Maturity.
See text
Outstanding.
Interest.
Date.
STOCK AND BONDS—
Stock $1,000,000 ($100)
First mortgage gold $1,000
L. A. Rpblson, Pres.
<
City Purchase.—On Oct. 14 1919 the Ashtabula City Council votedjto
tentative offer made by the company under which the city may
acquire, free of debt, the entire property for $296,000.
But the city waives
its creditors' claims (about $2.5,000) against Abe company,
lor further
approve a
particulars see V. 109, p. 1700, 2439.
,
ORGANIZATION.—Chartered Oct. 7 1890.
STOCK AND
Rtnnlc
18t
<1 '.00 000
mtge?
$75.bb0^
($1,000)
2d mtge.
Date.
BONDS—
Interest.
$o00.000
.....
75 000 July 11921
Trust Co.. Trustee, n. Y C_
M-S
307.000 Sept 15 1927
f 1907 5
ICitizens S.
$500,000
n
A T. Co.,
Cleveland, trustee..
b(
$75,000 2d mtge. 'bonds are reserved for prior
bonds originally matured July 1 1911 but were extended 10
Bonds.-
Maturity.
Outstanding.
__
gold 1 1891
6 g J-J
c*&r /Int. at Central
.
liens.
1st M.
years to July 1
,921.
EARNINGS.—Years ending Dec. 31:
Gross.
Net.
Cal. Years—
Interest.
Taxes.
$23,866
Bal., Surp.
def.$8,494
$104,242
$22,270
$6,898
2,752
23,217
100,195
32.720
6,751
1915
80,711
22,733
—ROA DOoeratos 5 miles of track on 5 H miles of street.
OFFICERS.—Pres. & Treas., L. A. Robison, Cleveland; Sec., J. W
Coltman. Cleveland, O.; Supt., Robert Hughes, Ashtabula.—V. 109, p
1917
19161
,
1700.2439.
PENNSYLVANIA & OHIO RY.—A trolley romd.
same interests control the Ashtabula Rapid Transit Oo.
Sale.-.—The company's property was bought in by the bondholders for
1233,000 at a receiver^ sale on Sept. 8 1919.
We understand that the com¬
pany Is to be reorganized.
V. 109, p. 1367.
Compare V. 109, p. 776.
Receivership.—On June 16 1917 Judge Roberts of the Common Pleas
Court at Oonneaut, O., appointed Supt. Palmer Wardman receiver, on
application of the Citizens' Savings k, Trust Co., mortgage trustee.
Press
dispatches stated that "the action came about through efforts of Oonneaut
stockholders to defer the payment of interest now due." V, 104, p. 2553.
ORGANIZATION.—Incorporated March 17 1898.
The
„
j(
STOCK AND BONDS— >
Interest.
Dale.
($500),\
Common
100.000 Mar 151922
5 g M-S
1902
(Int. at Citizens' Sav. & Tr. Co., dev., Trtw.
1919, gross, $144,778; net, $11,513.
1918, gross, $118,096; net, $20,860.
*■ROAD.—Owns and operates the Conneaut city line, 3 miles, and has
built westward from Conneaut to Kingsvllle Sc Ashtabula; 13 miles, and
south from Ashtabula to Jeffersoo. 10 miles; total, 26 miles.
OFFICERS.—Receiver, Palmer Wardman; Pres., L. A. Roblson, Pitts¬
burgh; Sec. & Treas., W. B. Morris, Pittsburgh.
Office at Ashtabula.—
V. 82, p. 929, 987; V. 104, p. 2553; V. 109, p. 776, 1367.
$100.000
EARNINGS.—For calendar year
ATLANTA,
GA.
QEORGIA RAILWAY & POWER CO.
ORGANIZATION.—Incorp. In Georgia on Oct. 16 1911
the following
properties (Y. 93, p. 1191, 1725):
Atlanta Ffydro-Elec. Power Co.
Inter-State Power Oo.
Atlanta Water & Elec. Power Co.
to take over
Savannah River Power Co.
South Carolina Power Co.
purchased the Gainesville Ry. & Power Oo. (see p. 45 o(
"El. Ry. Section" for May 1916) for about $180,600.
V. 103, p. 144.
In Jan. 1917 the company acquired all the Interests elf the Franklin Light A
Pow. Co., Broad Rlv. Pow. Co. and the J. B. McCrary Co. at Hartvrell, Ga.
Also leasee the Georgia Railway & Electric Co. (see below).
On Aug. 14 1918 was auth. by the RR. Comm. to increase light and power
rates effective Sept. 1 1918.
On April 2 1919 the RR. Comm. auth. a
charge of 6 cents for passenger fares except such fares as are fixed by con¬
tract between the company and the cities of Decatur and College Park.
In April 1919 the City Council of Decatur, Ga., denied the company's
petition to have the 5-cent cash fare contract suspended and to permit the
company to charge a 6-cent fare.
V. 108, p. 1721.
In Aug. 1919 was auth. to issue $489,000 1st & ref. 5s to reimburse the
treasury for additions and extensions.' In Sept. 1919 the co. was auth. to
Georgia Power Co.
In June 1916
the
payment of $132,231 equip, trust notes (10% to mature
annually), proceeds to be applied to the purchase of 15 centre-entrance cars.
V. 109, p. 1179. Compare V. 109. p. 981.
In March 1920 was auth. to
issue $601,000 additional bonds to cover Improvements made prior to
Dec. 31 1919.
V. 110, p. 970.
In Jan. 1920 the co. issued $2,500,000
coll. notes to refund a like amount of notes which fell due on Feb. 1 1920.
V. 110, p. 764, 1088.
*7 STOCK AND BONDS—
Date.
Common, $15,000,000 ($100)let pf$2,000,000 6% cum($100)
2d pf$10.000.000 4%n-c($100)
1st & ref mtge $30,000,000 gt 1914
See text sinking fund—c* [Int. at
Maturity,
Outstanding.
$15,000,000
2,000.000
Interest.
Q-J
See text
10.000,000
notes
($1,000)
15.018,500
5 g A-O
Fidelity
1920
7 g F-A 1 , 2,500,000 Aug
-_c*tf (Drexel & Co., Philai, Pa., Trustee.
$2,500,000/
g
11922
when
issued
on
account
of additions
security for
as
the
collateral
notes,
and
balance
is
for
future
additions,
&c., under
pro¬
tective restrictions.
Subject to call at 102)4 and
interest to April 1
1923. and thereafter at 105 and int. after 56 days' notice.
Bonds are
callable for sinking fund at same rates and dates.
Annual sinking fund
payments are as follows: 1919 to 1924. $75,000; 1925 to 1928. $100,000;
1929 to 1953, $125,000; $94,000 held in tink. fd. (not incl. In amt. ouistdg.)
Jan. 15 1920.
Coupon bonds $1,000 or £205 15s. 3d. and $500 or £102
17s. 7d.
Of the $1,100,000 outstanding Blue Ridge Electric Co. 1st
mtge. bonds, due July
the
1 1940, $863,500
stamped and purchased by
wore
as per agreement made bylGeorgia Power Co.
Remaining bonds were called for payment July 1
1917 at par and interest.
Both Savannah River Power mortgages were also
called for payment in 1917.
The Atlanta Water & Elec. Power bonds are
subj. to call at 105. The Issue was originally for $1,500,000 but has been
Oct.
1
1916.
closed at $1,400,000. Sk. fd. Jan. 1 1908 to Jan. 1 1917, incl., $5,000 per
ann.; thereafter until maturity, $10,000 per ann.
See V. 102, p. 1540.
$89,000 in sink. fd.
Collateral notes of 1920 are to be secured by deposit
of $3,751,500 1st & Ref. JVI. bonds.
Callable on 4 weeks' notice in amounts
^
Dividends.—An initial div. of $4 70 per share was paid JanT2 0 1913 tmthe
1st pref. stock, covering the 9 2-5 months since It was issued (March 1912).
In
Jan.^1917 paid 3% on account of accumulations (24%).
paid 4% additional on account of accumulations.
Regular
of 1)4% beginning April 1917 to Oct. 1 1918.
REPORT.—Of combined properties:
Calendar
Gross
Net (after
Year—
Taxes).
Earnings.
1919
Other
Income.
Has since
quar.
Int., Rentals,
Sk. Fds.,&c.
divs.
Balance,
Surplus.
$10,592,408
$3,688,412 $139,786 $2,598,895 $1,229,303
1918
8,836.535
2,984,565
2,527,792
160,775
617,548
1917
7,807,039
2,915,597
2.485,242
619,626
189,271
Passengers carried (on city system) in 1919, 93,596,056, against 85,481,204
in
1918.
_
^rti>?JPPERTY*—Total mlles single track,
248.147. "Standard gauge.
Owns water power sites in Northeastern Georgia
70, 80 and 90-lb. rails.
capable of an ultimate development of over 577,900 h. p.; present develop166.800 h. p.
Transmission and distributing lines aggregate 670.85
miles.
The interurban line from Atlanta to Stone Mtn. was completed in
Nov. 1913.
The hydro-elec. plant at Tallulah Falls was placed in operation
April 1 1914.
The sixth and last unit of 12,000 k.
wasjput into operation in March 1919.
w.
of this development
OFFICERS.—Chair, of Board, 14. M. Atkinson; Pres., P. S. Arkwright;
Vice-President, G. W. Brine; V.-Pres. & Mgr. Rys., W. H. Glenn; Sec.,
W. H. Wright; Treas., I. S. Mitchell Jr.; Aud., H. Flynn, all of Atlanta.
—V. 108, p. 2022; V. 109, p. 887,1981,1179; V. 110,p. 764,970,1088,1289.
(1)
Georgia Railway & Electric Co.
Lease.—On Jan. 30 1912 the stockholders of the Georgia Ry. & Elec. Co.
approved the 999-year lease from Jan. 1 1912 to the Georgia Ry. & Power
Co
which provides that the latter company guarantee all the fixed charges
and divs. on pref. stock and divs. of 8% on com. stock, the holder of each
$100
com.
having received
in 1st pref. and $125 in 2d
additional consideration for the lease, $3.12 H
pref. stock of Georjda Ry. & Power Co.. V. 94.
as
& orthern Ry. are not included in the premises demised under the lease,
982, 1119. The shares of the Atlanta Gas Light Co. and of the Atlanta
but the lessor assigned and transferred to the lessee, for and during the term
of the lease, the Income arising from any and all of the said shares.
..ORGANIZATION,—Incorp. In Georgia
on
Jan. 28 1902, and on April 1
1902 took over the Atlanta Ry. & Power Co.. the Atlanta Rap. Tran Co.,
the Georgia Electric Light Co. and the Atlanta Steam Co.
Franchise
for the greater part
perpetual; others 50
from August 1899-
years
Com-
grises the street railway, electric-light, gas, terms ofand ordinance peiv
power the steam-heating
iterests of Atlanta and Fulton County.
By
mitting consolidation, the company paid the city of Atlanta $50,000 in
and agreed to pay a tax on gross
receipts of 1% for first 3 yeajrs, 2%
for the next 20 years and 3% thereafter.
V. 74
p. 397, 727.
In Oct. 1902
both pref. and com. stock were listed on Boston Stock Exch.
V. 75, p. 849.
They are also listed on the Louisville Exchange.
sash
,
In
J"1)® 1903 acquired the entire capital stock ($600,000 6% pref. and
$1,014,625 com.) or the Atlanta Gas Light Co., comprising the gas business
of Atlanta and vicinity, by
exchange of stock, $ for $.
V. 76. p. 1406.
I he gas company, however, maintains a
separate organization.
Also owns
entire capital stock of the Atlanta Northern Ry.
See text
2,400.000
See text
6 g J-J
225,000 July 1 1930
payable in N. Y. at Fourth Nat. Bank.
i
Atl Cons St Ry 1st
5 g
f 1890
mortgage gold (par $1,000)(Int.
Central Trust Co., N. Y., Trustee.
consM$2.-J 1899
1,850,000
5 g J-J
Jan 1 1939
c^jlnt. payable in N. Y. at. N. Y. Trust Co. and
at Merc. Tr. Sc Dep. Co. of Bait., Trustee.
1900
5g J-J
1,350,000 July 1 1930
Georgia Elec Light Co 1st M
$2,000,000, gold, subject to Interest at Old Colony Trust Co., Boston,
500,000 g($1.000each)
—
Trustee
o*
call at 105
1897
Atlanta Gas-Light Co, 1st M
1,150,000 June 1 1947
J-D
5 g
$1,150,000. g ($1,000)—c* Interest
at New
York Trust Co., Trustee, or
Bank of Scotland, London, Eng.
Company bonds
underlying liens;
and int.
A
Hnktng fund became operative in 1907 which retires $10,000 of bonds
jach year from 1907 to 1911, inclusive; $25,000 per annum from 1912 to
1916, Inclusive, and $50,000 per annum thereafter.
See V. 74, p. 629, 727.
A sinking fund of $6 60 per $1,000 bond on the Atlanta Gas Lt. Co. bonds
'« operative; $285,000 bonds in fund.
Atl. Consol. St. Ry. bonds are red.
u a whole at 107)4, but $25,000 In Jan. of each year for sinking fund at
it 105.
Of the ref. & Impt. mtge. bonds, $11,230,000 are reserved to retire
!>rior liens (Including the $400,000 Atlanta & Northern bonds) and re¬
mainder for extensions and improvements up to 75% of actual cost.
Bonds
ire subject to call on 50 days' notice at 105 and int.;
a sinking fund of
1% of bonds out began in 1910.
$287,000 retired by sinking fund.
Dividends.—Dividends are now paid under lease (see above).
For record
it dividends paid prior to lease, see this section for January 1917.
Bonds.—Of the $11,000,000 Georgia Railway & Electric
..
(closed mtge.) of 1902, $3,450,000 are reserved to retire
has
been
retired. Red. on any int. date at
balance
110
EARNINGS.—Included in report of Georgia Ry. & Power Oo. above.
track (single-track basis).
70. 80 and
325 passenger and 36 other cars.
2 power stations.
OFFICERS.—Pres., J. K. Glenn; Sec. & Treas., W. H. Wright.—
V. 107, p. 401; V. 109. p. 981; V. 110, p. 970, 1289.
ROAD.—Owns 212.673 miles of
JO-Ib. rails.
Atlanta Northern
(a)
Co.—A trolley road.
Railway
ORGANIZATION.—Entire stock is owned by the Georgia
Slectric
Co.,
which
guarantees
STOCK AND BONDS—
the
Railway &
bonds.
Interest.
Dale.
Maturity,
Outstanding.
Stock, $100,000
$100,000
First mortgage $400,000 guar! 1904
5 g J-J
400,000 July 1 1954
($500 and $1,000) gold—c*J Int. at Old Colony Tr. Co.. Boston. Trustee.
Bonds.—Are guar., p. Sc i., by end., by the Ga. Ry.
began In 1909; $70,000 bonds
are
Are sub¬
Sc Elec. Co.
A sink, fund of $5,000 per ann.
ject to call cm any int. date at 110 and int.
held alive in sink. fund.—V. 79. p. 680,
EARNINGS.—For years ending
Dec. 31:
Gross.
Net.
Taxes.
Int.,&c.
Balance.
$222,422
$54,063
$7,351
$28,240 sur.$18,472
1918
.184,567
52,283
5,539
28,795
sur. 17.949
1917
141,537
33.220
5,430
28,385
def.
595
ROAD.—Operates 18 miles of track from Atlanta to Marietta, 15.2 miles,
which are owned and mostly on private right of way.
Has arrangements
with Ga. Ry. & EI. Co. for terminals and trackage rights into the city of
Atlanta.
Standard gauge; 7 cars.
Commenced operation July 17 1905.
—V. 79, p. 680.
Year—
—
ATLANTIC
ATLANTIC CITY
&
SHORE
CITY, N. J.
CO.
ORGANIZATION.—Incorporated in 1909 In Delaware.
Owns 2,995 of
the
3,000 shares of the Atlantic & Suburban Ry. Co. stock and a majority
($40,000 bonds) and Atlantic
City & Shore RR. Co.
Also owns all of the $591,100 outstanding 1st mtge,
bonds of Atlantic & Suburban Ry.
of the stocks of the Central Passenger Ry. Co.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
$995,500
Stock, $1,000,000.
Coll trust.
$591.100
The collateral
tf
trust
4s
are
1910
secured
591.100
4%
OFFICERS.—Pres.,
I.
L.
Harry
E.
Kohn;
Sec.,
L.
R.
Maturity.
See text
by $591,100 Atl. & Sub.
bonds and 2,995 out of 3,000 shares of stock of that company.
due Feb. 1 1928 or Feb. 1 1940.
1st mtge
They fail
Isenthal;
Treaa.,
Stone.
Atlantic City Sc Shore RR.—An electric road.
Default—Receiver.—Int. due Dec. 1 1915 was defaulted, due largely to
losses caused by Jitney buses.
Judge Clarence L. Cole was appointed re¬
ceiver, but on June 9 1919 was succeeded by A. J. Purinton.
The following
bondholders'committee has been organized: Geo. Burnham Jr., Frank H.
Bacbman, Tilghman Johnson and
John D. Mcllhenny.
V. 101, p. 1884.
(1)
ORGANIZATION.—Incorporated in New Jersey Oct. 21 1905 with
not less than
$500,000 at 100)4 and int. on or before Feb. 1 1921 and at
100)4 and int. thereafter.
Penna. 4 mills tax refunded.
1909
Imp mtge $20,000,000
Atlanta Street Railroad first
Georgia Ry. & Power Co.
dated
-
/
Maturity.
Outstanding.
$8,514,600
Q-F
5 Q-J
5.025,000
Jan 1 1949
J-J_
gold ($1.000) -————Ic* fint. at Amer. Trust Co.. Boston. Trustee.
First cons mtge $11,000,0001 1902
5 g J-J
5,660,000 Jan 1 1932
gold sink fund ($1,000) —c*Jlnt. at Old Colony Trust Co., Boston, Trus.
Ref Sc
Slock.—After the 2d pref. and common stocks have both received 4%
per annum for 3 successive years, the 2d pref. stock becomes com. stock.
Bonds.—Of toe $30,000,000 First and Refunding Mtge. bonds, $1,367,000 are reserved to retire prior liens, $3,750,000 are to be pledged as
gold
-
Interest.
Date.
-
1919—.
Apr Y1954
Tr. Co.. Phlla., Trustee.
Atlan Wat & El P 1st Ml 1903
1.400,000
Jan 1 1943
5 J-J
(closed) g (SI ,000)_..c*CDt/Int. at Columbia Trust Co., N. Y., Trustee.
Collateral
V. 110, p. 970.
($100)
Preferred 5% non-cumulative
$2,400,000 (par $100)
In
guarantee
istue^l80,000 additional bonds to cover impts.
prior to Dec. 31 1919.
STOCK AND BONDS—
----------
1901
5 g M-8
600,000 Mar 151921
.c*flnt. at Citizens' Sav. A Tr. Co.. Glev., Trtw,
$500 each
Jefferson
Divisioa
In Mar. 1920 was auth. to
made
Maturity
Outstanding.
Stock (1100), $1,600,000 auth
First mtge, $600,000, gold.l
and
[VOL. 110.
ELECTRIC RAILWAYS
6
perpetual charter.
below—and
a
Leases Atlantic City & Ocean City RR.—see terms
$218,500 of the common stock of the Atlantic City Sc
Ocean City Company, which holds all the stock and bonds of the Atlantic
City & Ocean City RR.
V. 85, p. 158.
Operates over the Central Pass.
Ry. Co. tracks under traffic agreement.
f *
Contract with
West Jersey & Sea Shore RR.—An agreement has been
entered
into
with
the
West
Jersey Sc
Sea Shore RR. by which the
Atlantic Ave. lino of the latter road, running from Atlantic City to Longpbrt, 8)4 mlles. Is operated by this company.
Fare Increases.—On Nov. 51917 the Bd. of P. U.Comm. of N. J. auth.
the
co.
to raise the
from 50 to
auth.
was
owns
round-trip fare between Ocean City and Atlantic City
60 cents, or double the existing one-way fare.
In May 1918
increase the fares between Atlantic City and Pleasantville
to
2 cents and to increase rates in all other zones affected 1 cent for every fare
collected, the sale of strip tickets at 6 for 60 cents to be continued.
V. 106,
2122; V. 107, p. 290.
On Nov. 1 1918 was auth. by the N. J. P. U.
Comm. to increase fares from 5 to 6 cents as a war measure, which may be
p.
rescinded when conditions again become normal.
V. 107,
p.
1836.
Com¬
V. 107, p. 179, 801.
pare
STOCK AND BONDS—
Date.1
Interest.
Outstanding.
Maturity.
$1,000,000 ($100)
$1,000,000
Sc coll trust deed! 1905
5 g J-D
950.000 Dec
1 1945
$1,000,000 ($1,000) g_c*tf Jlnt. at Glrard Trust Co., Phila., Trustee.
Bonds.—No sinking fund, but can be called at any time at 110 and int.
Stock,
1st
mtge
ROAD.—Operates 47.45 miles of track in and Ground Atlantic City, in¬
cluding a road through Pleasantvllle, Linwood and Somers Point, to Ocean
City, the latter two points being connected by 2 miles of trestle and bridge
owned by the Atlantic City & Ocean City RR.
!
EARNINGS.—For cal. year 1919, gross, $784,112; net, $225,650; other
rents, &c., $245,006; bal., deficit, $19,356.
OFFICERS.—Pres., I. H. Silverman; V.-P., Charles Evans; Sec., J. M.
Campbell; Treas., I. L. 8tone: Gen. Supt.. A. J. Purinton.—V. 101. p.
1806,1884; V. 106, p. 2122,2343; V. 107, p. 179, 801,1836; V. 109, p. 981.
Atlantic City Sc Ocean City Company.
City <fc Ocean City Company was organized In Delaware
the entire ($180,000) stock and all the ($180,000) bonds of the
Atlantic City Sc Ocean City RR., and has pledged them as security for the
collateral trust bonds below.
Of the common stock of the Atlantic City &
Ocean City
Company, $218,500 is owned by the Atl. City Sc Shore RR.
The
latter leases the Atl. City Sc Ocean City RR. for 999 years, the rental be¬
ing $19,500 per annum, and an additional contingent sum equal to 33 1-3 %
of the net surplus, but not to exceed $25,000 per annum.
(a)
The Atlantic
and
owns
STOCK AND BONDS—
Date.
Interest.
Common, $350,000
Pref 5% non-cum $250,000
Collateral trust gold $500,-1
Outstanding.
Maturity.
$220,000
175,000
350.000 Mar 1 1947
Philadelphia, Trustee.
-
1907
5 M-S
000 redeemable 110
Glrard Trust Co.,
Stock.—The pref. stock is redeemable at par.
ROAD.—The Atlantic City Sc Ocean City RR. owns 2.01 miles of road
from Somers Point, across Great Egg Harbor Bay. on bridge and trestles,
to Ocean City.
Rails, 85 lbs.
V. 85, p. 158; V. 87. p. 165.
OFFICERS.—Pres., Penrose Fleisher;
Irvin
L. Stone.
Sec., J.
M. Campbell: Treas.J
/
APE..
(1)
ELECTRIC RAILWAYS
1920.)
Atlantic & Suburban Ry.
ORGANIZATION.—Incorporated In New Jersey Dec. 7 1908 as a re¬
organization of the Atlantic City A Suburban Traction Co., sold under fore¬
closure of 1st mtge.
V. 87. p. 1237, 1532.
Fare Increase.—Effective
AYER, MASS.
LOWELL & FITCHBURG STREET RY.—A trolley road.
In 1913 W. W. Sargent, President of the Fitchburg A Leominster Street
Ry., and associates acauired control.
April 15 1920, was auth. by the N. J. P. U
schedule.
V. 110, p. 1288.
Date.
STOCK AND BONDS—
Interest.
Outstanding.
Maturity
5150.000
First
mortgage,
5650.0001 1909
4 g F-A
591,100 Aug 1 1929
(51.000)
c*tfJlnt. at Cambridge Tr. Co., Chester, Pa., Tr.
Prior lien M, $100,000, guar!
5% •
106,000 Feb 1 1925
p A I, by A C & S Co— tf J
Bonds.—Bonds have no sinking fund.
V. 87, p. 1237.
Stock,5750.000 ($50)
EARNINGS.—For
calendar
1919, gross (all sources), $112,773
neo, after oper. exp. and fixed charges, def. $15,451.
In 1918, gross
(all sources), $91,157; net, after oper. exp. and fixed charges, def., $10,105
year
ROAD.—Operates 16.13 miles of track from Atlantic City to Pleasant
ville, Somers Point and Absecon.
Standard gauge, 80-ib. T rail.
OFFICERS.—Pres.,
Harry
E.
Kohn; Sec., J.
Irvin L. Stone.—V. 87, p. 1532; V. 88, p.
881; V. 90,
AUGUSTA,
AUGUSTA-AIKEN
RY.
In
March
1906
under
laws
of
South
Co. and North Augusta Land Co.
On June 23 1915 the stockholders authorized an Increase in the 6% cum.
pref. stock from $1,500,000 to $2,250,000, the new stock being issued in
exchange for the $750,000 pref. stock of the Georgia-Carolina Invest. Co.
(a holding co. formerly controlling the Ga.-Caro. Power Co.), which has
been dissolved.
V. 100. p. 1830, V. 101, p. 283.
Faxes.—On Mar. 1 1918 increased fares from Augusta to Aiken, 3. O.,
from 25 cents to 40 cents, with the approval of the S. O. RR. Commission,
but subsequently reduced to 35 cents.
In Sept. 1918 applied to the Georgia
RR. Comm. for auth. to increase fares in Augusta from 5 cents to 10 cents,
but was granted authority to raise fares to only 6 cents.
Holders
of Co.'s
1st M. 5s To
Foreno
Interest.—In
May 1919 the
proposed to holders of the 5% Sink. Fd. bonds, due 1935, in order to
necessary funds for construction, replacements and floating debt,
feat they defer the interest on this issue for three years by funding their
coupons into a 5-year interest-bearing note at 5% and until such notes
mature on June 1 1924, to waive the operation of the sinking fund.
This
plan was declared operative in August 1919.
Provision is made in the
deposit agreement that until the 5% Coupon Gold notes have been paid off,
do dividends shall be declared by the company on either class of stock.
V.
109, p. 1079.
co.
secure
Date.
Interest.
Q-M
63 J-D
Outstanding.
$2,250,000
2.250.000
Maturity.
*
See text,
1910
57.500,000
gold
2.891.000 Dec 1 1935
(51.000)
c*Ar*tf Central Trust Co., New York, Trustee.
1900
5 g J-D
Augusta Ry A Elec 1st M g
896,000 June 1 1940
51.000.000 ($1,000) -c*ntf Int. at Mer. Tr. A Dep. Co., Bait., Trustee.
G»-Oaro Pow 1st M $5,000.000 g (5500 and 51,000).1912
5 J-J
2.750,000 July 1 1952
guar
c*tf Central Trust Co., New York. Trustee.
Bonds.—Of the $7,500,000 1st mtge. bonds, $233,000 are in treasury,
and $129,000 In sinking fund (not Included in amount reported outstand¬
ing) (see text above regarding suspension of sinking fund operations);
5896,000 are reserved to retire Aug. Ry. A Elec. bonds and balance is for
addltion|s, Ac.
Sub). to call as a whole (or In part for sink, fd.) at 105 and
int. on any Int. day on 30 days' notice.
Interest is payable at Redmond
A Co., New York.
Sinking fund began in 1918, providing for payment of
525,000 per ann. 1st 5 years, increasing to $40,000, $50,000 and $65,000
for each successive period of 5 years until maturity of bonds.
V. 92, p.
1177.
Augusta Ry. A Elec. bonds can be called in 10, 20 or 30 years from
date at 105 and int. on 6 months' notice; sinking fund of % of 1% began
June I 1905 for 15 years. 1% for next 10 years and 2%
or remaining 10
years. $104,000 (not incl. in amount outstanding) was held in sinking fund
July 1 1919.
i
The Ga.-Caro. Pow. bonds are subject to call as a whole, or in part, for
sinking fund at 105 and int.
$39,000 are held by A.-A. Ry. A Elec. Corp.
and $28,000 are held by trustee for sinking fund (not incl. in amount
reported as outstanding).
Sinking fund began in 1918 and will be sufficient
to retire all the bonds at maturity.
They are guar., p., f. & s. f., by
Augusta-Aiken Ry. & Elec. Corp.
V. 95, p. 179.
Dividends.—Initial dividend on preferred—1H%—P&id Dec. 30 1911.
same rate quarterly to and Incl. June 1914.
None since.
mtg
REPORT.—For years ending Dec. 31.
(1918 report In V. 109,
Int.
Year—
Oross (All
Net after
Taxes.
Sources).
$348,472
'-$1,104,890
1919
on
Int.onCo.Sub.Co.Bds.
$212,636
Balance,
Other
lnt.,&c.
&c.
Bonds.
i/$12,648
472.)
p.
$11,861
Surplus
$111,326
x368,286
190.262
165,670
10,555
1.799
1918
.1,023,831
x After
deducting
$90,000
reserved
for special depreciation, incl.
obsolescence.
In 1917 a similar reservation of $50,000 was appropriated
„
of the surplus,
y This represents int. on the cos. 5-year 5% notes
which were issued In connection with the plan under which the holders of
out
the co.'s 1st M. bonds have agreed to forego the
of 3 years—see above.
int. due thereon for
period
a
of which 31.4 miles
city lines and 25.5 miles Interurban between Augusta and Aiken, 60
100-Ib. T rails.
Standard gauge.
Owns Lake View Park on Lake
ROAD.—Owns and operates 56.9 miles of track,
are
to
Olmstead.
OFFICERS.—Pres.. F. Q. Brown; V.-P., J. H Pardee and J. K. Choate;
Sec. and Treas., D. H. Thomas; Mgrs., J. G. White Mgt. Corp.—V. 106.
p.
1343. 2010. 2117; V. 107. p. 1194; V. 108. p. 2240; V. 109. p. 472,
AUSTIN,
1079.
TEX.
I
AUSTIN STREET RY.—A trolley road.
to
ORGANIZATION.—Incorporated In Texas on Jan, 3 1911 as successor
the Austin Electric Ry.
Franchise expires In 1942.
8TOOK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
5750,000 (5100)
5560,000
See text.
$5001000 (5100) 6% nc
250.000
See text.
First A tei mtg $1,500,0001 1911
5 g J-J
786,000 Jan
11936
gold (51,000)
cnf Jlnt. at Equitable Trust Co.. N. Y., trustee
Bonds.—$614,000 1st A ref. bonds are reserved for additions, Ac.
They
are subject to call on any Int. date at 102Annual sinking fund of 2%
of bonds out began in 1915.
V. 92, p. 185; V. 93, p. 1461. $125,000 (not
included in amount reported outstanding) in sinking fund Feb. 1 1920.
Dividends.—Prlgr to 1915 paid 6% on pref. and 4% on common stock.
No later Information.
Common
Pref
EARNINGS.—For years ending Dec. 31:
Year—
Gross.
Net.
Int.&Tax. Sink.Fd.
$290,080
$87,859
273.184
96,696
$64,327
ROAD.—Operates 22.67 miles of track.
Deprec.
Balance.
1919
1918
OFFICERS.—Pres.,
Bush,
E.
P.
1916, 2%; 1917, 6%.
year ending Dec. 31
1919, gross, $101,784; net,
$19,851; other income, $2,087; int., $13,750; divs., $8,250;
bal., def., $62.
ROAD.—Operates 14 miles between North Chelmsford, a suburb of
Lowell, and the village of Ayer, with a spur running from North Chelms¬
ford to Westford; connects at North Chelmsford with Bay State St. Ry.
and at Ayer with Fitchburg A Leominster St. Ry.
Has 11 passenger
cars, 1 snow plow and 2 other cars.
OFFICERS.—Pres., W. W. Sargent; V.-P., O. F Baker; Sec. A Treas.,
R. N. Wallte, all of Fitchburg, Mass.
EARNINGS.—For
Austin, Tex.;
$15,720
$23,748
def.$7.099
55 and 72-lb. rails; 40 cars.
W. J. Jones; V.-P., F. H. Watriss; Sec., D. A.
Asst. Sec., G. P. Gannett, Augusta, Me.; Treas.
Me.—V. 93. p.
Wilmot; Asst. Treas.. G. E. Macomber, Augusta,
526.1461.1531.
taxes,
BALTIMORE,
Srin. and int. and1916 disposedon its holdings in the North Co. 1st M.5a.
sink, fund of the Ga.-Carolina Pow. Augusta Hotel
larly In the fall of
Calendar
Dividends.—In
after
Street
Augusta A Columbia Ry. Co.; name changed to above In April
consolidation of the following companies:
Augusta-Aiken Ry. A Elec. Co.
I
Augusta Ry. A Elec. Co.
Augusta A Aiken Ry. Co.
I
North Augusta Elec. A Impt. Co
Owns and operates entire railway systems of Augusta, Ga., and North
Augusta, S. C., and a line from Augusta to Aiken, S. C.
Also furnishes
entire electric light and power service In Augusta and its suburbs and owns
valuable real estate in central part of Aug
Augusta expires 1939; electric-lighting franchi
Interurban division Is on private right of way.
V. 92. p. 1177.
Also owns
the 5500,000 com. stock of Georgia-Carolina Pow. Co., incorp. in So. Caro.
to construct the hydro-elec. plant on Savannah River, which was placed In
operation Feb. 6 1914 with an Initial installation of 14,000 h. p., ultimate
capacity about 28,000 h. p.
Operation of this plant was taken over by the
Augusta-Aiken Ry. A El. Corp. on July 1 1914.
The company guarantees
STOCK AND BONDS—
gold/ 1906
5 g J-J
275,000
Jan 1 1926
sinking fund--(Subject to call at 105 and Interest.
at 5275.000.
MD.
railways of Baltimore pay a park tax of from 1 % to 9% of grots receipts
rights of way, and
from lines within City Limits, except on turnpikes and private
are required to pave between tracks and two feet on each side.
UNITED RAILWAYS* ELECTRIC CO. OF BALTIMORE.—Trolley.
a
Common 52.250,000 (5100)
Pref 6% cum 52.250.000 (5100)
no
Bonds.—First mtge. was originally for 51.000,000, but has been closed
GA.
as
1911 and Is
(51,000)
1
Maturity.
$275,000 In 1917, 6%
8tock 5275.000 (5100)
First
mtge
(see text)
& ELEC. CORPORATION.
ORGANIZATION.—Chartered
Carolina
M. Campbell; Treas.
1424; Y. 110, p. 1288
p.
*
ORGANIZATION.—Incorporated In Massachusetts In 1903.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Comm. to put into effect an increased fare
First
7
ORGANIZx\TION.—Incorporated at Annapolis March 4 1899; com¬
prises through consolidations the following passenger railways in Balti¬
more City and Baltimore, Anne Arundel and Howard counties, Maryland:
Baltimore
Oatonsville
A
Ellicotts Central Railway Co.
Mills Passenger RR.
Gwynn's Falls Railway of Baltimore
Baltimore City Passenger Ry. Co.
City.
Baltimore Consolidated Ry. Co.
Maryland Traction.
Baltimore A Curtis Bay Ry.
Pimlico A Pikes ville RR.
Bait. Gardensville A Belair Elec. Ry. Shore Line Electric Ry.
Baltimore A Northern Elec Ry. Co. Walbrook Gwynn-Oak A Powhatan.
of the Baltimore Sparrows
Also owns all the stock, and holds a lease
Point A Chesapeake Ry. Co.
Allied Company.—In Aug. 1906 the Maryland Elec.Ry., which had agreed
to provide funds for needed improvements and acquisitions of the United
Ry. A Elec. Co., was consolidated with the Bait. A Annapolis Short Line,
thus forming the Maryland Elec. Rys.
See statement of that co. below.
Power Contract.—In Feb. 1911 entered into a 15-year contract with Penn¬
sylvania Water A Power Co. for supplying power in conjunction with
United
Railways Co. for operation of cars.
V. 92, p. 467.
Favorable Tax Decision.—On June 29 1909 the Court of Appeals of
Mary¬
land held that the
park tax of 9% on gross earnings of lines within city
intended to be in lieu of all other taxes, and that no further tax
on the intangible
property can be levied without express legislative author¬
ity. The easements in 14 miles of turnpikes in annexed districts were held
to be taxable.
V. 89. p. 44.
In April 1913 Judge Bond In the City Court at Baltimore decided that the
company must pay cost of repaving streets between tracks and 2 ft. on
either side.
See V. 96, p. 1090.
On Aug. 5 1913, the Court of Appeals of
Maryland reveled the ruling and unanimously held that company's obli¬
gation with respect to the track area was to repair and not to re-pave.
In
Feb. 1916 the same court again held that co. is required merely to keep
Its tracks In repair.
In June 1914 the Maryland Court of Appeals, reversing the lower Court,
held that the State Roads Commission cannot recover from the electric
railway companies the cost of changing and re-locating tracks in building
the system of State highways.
V. 98. p. 1995.
Wage Increases.—V. 106, p. 1345, 2759; V. 107, p. 292.
Fares.—In Aug. 1918 the co. announced that, effective Oct. 1 1918,
fares in Baltimore and suburbs would be increased from 5 cents to 6 cents.
V. 107, p. 907, 1386.
Compare V. 107, p. 403.
In Jan. 1919 the 6-cent
fare was approved by the Maryland P. S. Comm.
Half-fares for children
were increased from 3 cents to 4 cents.
V: 108, p. 172.
On May 22 1919
the co. applied to the Md. P. S. Comm. for auth. to Increase fares to 7 cents
cash or 4 tickets for 25 cents.
V. 108, p. 2242.
On June 5 1919 thia
petition was denied by the P. S. Comm.
V. 108, p. 2434.
Effective Oct. 1
1919. however, fares were increased to 6H cents, 4 tickets being sold for
26 cents.
V. 109, p. 1274.
On Jan. 1 1919 the cos. was auth. by the
Md. P. S. Comm. to increase fares to 7cents.
V. 110, p. 79.
See also
V. 110, p. 360.
Interest.
Outstanding. Div.or Mat.
STOCK AND BONDS—
Date.
4 Q-J 15
$20,461,200
See text
Common, $35,000,000 ($50)-- --—
4
J-D
23,000
Nov'19.2%
Pref, cum, $14,000,000 ($50)13,977,000
1949
4 g J-D
Inc
mtge,
g,
$14,000,000, ( 1899
limits
was
...
Marvland
($1,000)
cum,
Trus
1st
con
Co,-{Payable at option of
Tr
c* ntf (Int.
mtge, g. $38,000,0001
~
-
'
—
($1,000);
Continental Tr
Co, Baltimore, Trus.-C*tf
at
1899
co. after March 1 1949.
Alex. Brown A Sons, Baltimore.
4 g M-S
26,450,000 Mar 1 1949
interest at Alex. Brown A Sons, Baltimore.
1906
5 g J-D
3.920,000 June 1 1930
($100, $500
A $1,000), $3.920,000--ctf Maryland Trust Co., Trustee.
1916
5 F-A
1,222,000 Feb. 1 1921
Gold notes. $2,750,000 (51,000) red, all or part, at 101 Int. at Alex. Brown & Sons, Baltimore.
A int. on 30 days notice c*tf I Safe Deposit & Tr. Co.. Bait., Trustee.
Oonv gold notes. $5,750,000 f 1917 5 & 6% F-A
4,528,000 Aug 15 1922
($100, $500, $1,000)
c*{lnt. at Alex. Browh & Sons. Baltimore.
Income fdg bonds
UNDERLYING
Tract—1st
Baltimore
mtge;( 1889
SECURITIES.
5 M-N
1,500,000 Nov 11929
($500,000) Trustee Mercanj Interest
at
Merchants'-Mechanlcs' First
tile Tr A Deposit Co.cntf I Nat. Bank, Baltimore.
N B DIv 1st ($1,000) 5s. g;( 1892
5 g J-D
1,750,000 June 1 1942
TrusMerTr&DepOo.cntf lint, at Merch.-Mech. First Nat. Bk.Balt.
Date.
Interest.
Outstanding. Div.or Mat.
STOCK AND BONDS
1892
5 g J-D
$3,000,000 June 1 1922
City & Suburban Ry Bonds—
Baltimore.
1st mtge, g ($1,000)
tf Int. at Alex. Brown A Sons.
Safe Deposit A Trust Co., Bait., Trustee.
1892
5 g M-S
1,000,000 Sept 1 1942
Lake
Roland
Elevated—1st
consol
mortgage,
gold Interest at Alex. Brown A Sons. Baltimore.
Baltimore Trust Co., Trustee.
ff 1.000)
c*Ar tf
1892
5 g M-N
700,000 May 1 1932
Central Ry—Consol mortgage
5700,000. gold (51,000) ntf Int. at Merch.-Mech. First Nat. Bk., Bait.
Mercantile Tr. A Dep. Co. of Bait., Trustee.
1897
5 g M-S
600.000 Mar 1 1932
Ext
and
imp
1st mtge,
$600,000. g (51.000)-ntf Baltimore Trust Co., Baltimore, Trustee,
_
T
tint, at Merch.-Mech.First Nat. Bk.. Bait.
preferred stock reported above as outstanding Is all that
$14,000,000, the rest having been converted
into income bonds.
Authorized amount of common stock was increased
from $24,000,000 to $35,000,000 in Sept. 1917 to provide for conversion
feature of notes of 1917.
Common stock listed on Baltimore and Phila¬
Stock.-
The
remains of the original Issue of
delphia Stock Exchanges. V. 90, p. 1631; V. 97, p. 667.
Bonds.—Of the 538,000,000 of 1st consol. bonds $29,450,000 have been
Issued (of which $3,000,001 are in treasury); $8,550 009 set aside to retire un¬
derlying securities
$23,000 incoma-mtge. 4s are held by trustee to retire
the outstanding pref. stock.
Income funding bonds are red. on any Int.
and accrued int.
$48,320 are held by trustees.
All bonds are
listed on Bait. Stock Exchange and the 1st Consol. 4s and $14,000,000
Income 4s are listed on the Phila. Stock Exchange.
$8,000 Central Ry.
date at par
1st cons. 5s are in U. Rys. A EI. Co.'s treasury.
In Feb. 1916 Issued $2,750,000 5% 5-yr. notes to
Catonsville A Ellicott's Mills 1st M. 5s due July 1
retire the $500,000 Bait.
1910 and the $1,000,000
June 1 1916, called for payment Mar. 13 1916. and to
provide for certain capital impts. during the 5 years following.
No new
mtge. can be created upon present property during life of notes without
giving notes equal security with bonds issued under such new mtge.
V.
102 p. 523, 610.
$1,528,000 had been exchanged for conv. 5% gold notes
due* Aug. 15 1922 as of Aug. 31 1919.
Convertible Notes.—Convertible at the option of the holder Into com. stock
at 530 per share within one year after Aug. 15 1919, at $33 during the next
year and at $36 thereafter until Feb. 15 1922.
$3,000,000 bearing 0% Int.
were issued for new equipment, extensions, Ac., stockholders being given
preferential subscription rights; remaining $2,750,000, bearing int. at 5%
for exchange, par for par, for the 5% 5-year gold notes due Feb. 1 1921.
See V. 105, p. 820, 910, 1523.
$1,528,000 had been so exchanged up to
Aug. 31 1919. Redeemable (subject to the right of conversion) at par and
Int. on 30 days' notice. Safe Deposit A Trust Co., Baltimore, trustee.
5% coll. tr. notes due
(but not on the bonds) being subject to a
None thereafter until June 1911, coupons
(except 1 share of pref.)
Harbor Ac Union River Power Co.
deduction of Ji of 1% for taxes.
being funded. On June 1 191*
paid 2% on both income bonds and pref. stock and 2% has been paid each
b months since.
On com. 1st dlv.—IV* %—paid May 1912; Nov.. 1M % ■
In 1913 and to and incl. Jan. 1919 at the rate of 4% per annum
April 1919
div. postponed (V. 108, p. 1391).
None since.
.
.
ROAD.—Miles of track, 415; serviceable cars, 1,999; gauge, 5 ft. 4% in.
Rails, 70-lb. T and 9-in. and 124^-lb. girder.
Capacity of (3) generating
stations, 34,755 k. w. (an additional 20,000 k. w. unit is being installed)
capacity of (7) sub-stations, 45.200 k. w.
REPORT for the year ending Dec. 31
1916
1917^'
Car miles
?sapass^!!--
$18'fff§
528.042
*1,079,723
$3,453,023 1 $3,332,942
83,061
income.
Other income
495,702
994,840
$3,685,676
596,485
1,160,452
739,712
1,409,261
Depreciation....,
Taxes, licenses, &c..,_.
Net oper.
-SMf Tdniii?
::::::
d
31,397,513
33,705,804
32,569,906
run
secured by deposit of all the stocks
and $386,000 1st & ref. mtge. bonds of the Bar
They are subject to call on 60 days
notice at 107H and interest on any interest date.
Interest at office of
trustee, New York, or Eastern Trust Ac Banking Co., Bangor.
See
particulars, bonds, property, Asc., V. 87, p. 1009.
The Public Works Co.
bonds are not subject to call; V. 80, p. 2456.
$1,000 retired. $1,018,000
Bar Harbor Ac Union River Power Co. bonds have been issued, of which
$386,000 are deposited under Bangor Ry. Ac Elec. 1st cons. M., $16,000 are
held in special funds by that company and $606,000 in hands of the pub¬
lic.
Of the remainder, $10(M)00 are reserved to retire the Bar Harbor
Electric Light bonds and $892,000 for extensions, Acc., at 85% of cost of
Kama.
They are guar., p. & L. by Bangor Ry. Ac Elec. Co. and are subject to
call at 107H & int. on any int. date oh 60 days' notice.
Int. at trustee or
Merrill Tr. Co., Bangor; also at J. Ac W. Seligman Ac Co., N. Y.
Trustee of
Bar Harbor Elec. Light Co. bonds is Union Safe Deposit Ac Trust Co.,
Portland, Me.
Of Bangor Pow. Co. 1st M. bonds. $750,000 Series A (all
out), bore int. at 4t% to Sept. 1 1916; bear 4H % to Sept. 11921 Ac 5% there¬
after to maturity.
Series B. $1,750,000 auth. (int., 5%). $611,000 issued
and outstanding, and $1,139,000 reserved for extensions, betterments, Acc.,
at 85% of cost of same.
Int. payable at office of trustee and at office in
Bangor.
Subj. to call at 105 & int. on any int. date on 60 days' notice
No s. f.
Both series assumed by Bangor Ry. Ac El. Co.
Bonds.—The first oonsol. bonds are
DIVIDENDS.—Dividends of Hof 1 % were paid In June 1899 and 2H %
each six months after that to and including Dec. 1903,
both the income bonds and the pref. stock, the payment on the stock
in Dec. 1899, and 2%
on
1
$3,855,559
92,000
96,101
Dividends.—5% per annum paid on the old stock (all of one class) from
Oct. 1 1905 to Oct. 1909. when 1H% (quar.) was paid, which rate was con¬
_
Common
divs.
(4%)
.
!
$3,416,003
$2,524,271
559,080
_
bonds, rents, &c_
Int. on income bds. (4%)
Preferred divs. (4 %)
on
!
$3,947,559
$2,280,355
559,080
,781,777
,347,117
559,080
920
920
920
818,448
818,448
818,448
.
—
"
1
'
$288,756
$56,218.
zdef$486,716
total surplus Dec. 31 1918, after deducting $105,035 income and
profits taxes, year 1917; $15,000 contribution to Red Cross war fund;
xThe
excess
and $97,866 misc. items (net), was $362,370.
OFFICERS.—Chairman of the board, Thomas
Emmons; V.-P., J. Pembroke Thorn;
.
_
A. Cross; Pres., C. D.
V.-P. Ac Gen. Mgr., James R. Pratt;
Bee., William Early; Treas., J. T. Staub; Aud., N. E, Stubbs.—V.108. p.
1643, 1929, 2242, 2434, 2630; V. 109, p. 172, 889, 1274; VjLlGbp. 79. .360;
Baltimore Sparrows Point
& Chesapeake Ry.
1903 was leased for 999 years to the Un.
(1)
ORGANIZATION.—In Jan.
Rys. Ac Electric Co. of Baltimore, which guarantees the bonds below, both
as to principal and interest, and also owns all of the stock.
See V. 79, p.
2643.
Has 33.541 m. of single track. Including a line 22 miles long connecting
Baltimore with the Bethlehem Steel Works at Sparrows' Point, and extend¬
ing beyond along the shore of Chesapeake Bay, where summer resorts have
Increased and new
pref. stock was created, on which I%% has been paid quar. from Jan 1912
to and incl. Apr. 1920.
On common initial dividend of 3^ % was paid May 1
1914 and ]A% quar. to and incl. Aug. 1918; Nov. 1918 div. omitted (V.
107, p. 1848).
None since.
REPORT.—For years ending
Dec. 31:
.
^
Pref.Div.
Balance,
(7%).
Sur. or Def,
1919
$438,077
$105,000 sur.$79,966
1918
923,122
326,387
239,096
105,000 def. 17,709
ROAD.—Operates 66.11 miles of single-track equivalent.
Rails, 48
to 90-lb. girder and T standard gauge.
59 pass, and 22 freight cars, 3 gravel
cars, 7 snow-plows, 1 sprinkler and 6 misc.
3 hydro-electric plants with
12,260 k.w. (of which 1,525 k.w. can be operated either by steam or water)
capacity and 1 steam station developing 600 k.w.
Year—
-
-
Net {after
Taxes).
Gross
Earnings.
$1,094,675
Calendar
!7~
Surplus
In 1911 stock was
In 1911, 7%.
tinued to Oct. 1910.
Total net income...,
Int.
[Vol. 110
ELECTRIC RAILWAYS
8
Interest,
&c.
$253,111
—-
OFFICERS.—Pres., E. C. Ryder; V.-P., Frank Silliman Jr.; V.-P. Ac
Mgr., E. M. Graham; Clerk Ac Treas.. Howard Corning; Aud., C. A.
Under management of E. W. Clark At Co.—V. 106, p. 497,
1460; V. 107, p. 801, 1747, 2287; V. 108, p. 2628.
Gen.
Pearson, Jr.
b@6U
STOCK
AND'BONDS—
Date.
Interest.
barre, vt.
Maturity
Outstanding.
Stock. $2.000,000
$400,000
First mtge., $2,000,000. gold
1903
4\4 g F-A
2.000,000 Feb 11953
($1,000) guaranteed, prln- Fidelity Trust Co., Baltimore, Trustee.
clpal and interestcHf Interest at Alex. Brown Ac Sons, Baltimore.
REPORT.—Operations included in United Ry*. At Elec.
V. 80, p. 221.
(2) Baltimore Halethorpe & Elkridge Ry.
ORGANIZATION.—Incorp. on Dec. 26 1905 in Maryland.
Stock,
$100,000; outstanding, $10,000. Has made a $300,000 mtg. (ntf) to Fidelity
Trust Co. of Baltimore, trustee.
20~year 6% bonds, prin. and int., payable
at Alexander Brown Ac Sons, Bait.; not guar, by United Rys. Ac Elec. Co.
None out.
Owns 3.051 miles of road, which is operated by United Rys. &
Elec. Co.—V. 87. p. 543.
MONTPELIER
&
ORGANIZATION.—Incorp. in Mass. on Nov. 12 1912 and owns 91%
of the Barre Ac Montpelier Trac. Ac Power Co.
Also owns
ail the stock of the Consolidated Lighting Co.. Vermont Power Ac Ltg. Co.,
Molly's Falls Elec. Lt. Ac Pow, Co., and Waterbury Lt. & Pow. Co.; also
assets of Corry-Deavirt-Frost Elec. Co.
Supplies electric light, heat and
of the stock
power in Barre and Montpelier and in practically all of Washington County,
vt.
Franchises are perpetual.
Fare Decision.—In Nov. 1914. the Vermont Supreme Court held that the
THE MARYLAND ELECTRIC RAILWAYS CO.
ORGANIZATION.—In 1906 the charter of the Maryland Elec.
Ry. wa*
consolidated with the
has since been eiectri
terminals,
Ac., and la erecting buildings, constructing extensions, purchasing equip¬
ment, Acc., which is leased to the United Ry. & Electric Co. for an annual
rental of 6% upon the actual cost of the property.
At maturity of the
$8,000,000 bonds of The Maryland Elec. Rys., the United obligates itself
to purchase the
property so leased at a sum sufficient to retire the bonds
See plan in full In V. 83, p. 156.
There is no guaranty endorsed on bonda
nut the terms are such that rental will| be more than sufficient to pay inter¬
1906 to adapt it to that purpose.
In Aug. 1906 was
Baltimore Ac Annapolis Short Line, which latter line
The Maryland Electric Rys. then acquired car-barn sites,
fled.
1
Stock listed
est.
on
Baltimore Stock Exchange In Feb. 1908.
Date.
Interest.
Outstanding.
STOCK AND BONDS—
Maturity
$1,164,000 July'08,1%
Stock, $1,200,000 ($50)
First
mtge, $8,000,000, gold} 1900
5 g A-O
4.916.000 Oct 1 1931
($1,000), sinking fundc*tf/Mercantile Tr. Ac Dep. Co., Bait., Trustee.
Ac Annapolis first f 1900
5 g F-A
1,000,000 Aug 1 1946
mortgage, $1,000,000—tfi Fidelity Trust Co., Baltimore, Trustee.
Baltimore
(Interest at Alex. Brown Ac Sons, Baltimore.
,
„
Bonds.—A sinking fund of 1 V4% on Maryland Elec.
out began Mar. 30 1910.
$886,000 (Incl. in amount
gen.
sink, fund April 1 1920.
Int. date upon
Sons.
90 days' notice.
Ry. 1st mtge. bonds
outstanding) held in
redeemable at 110 and int. on any
Int. payable at office of Alex. Brown &
Bonds
are
See V. 83, p. 818, 970.
Dividends.—First dividend
(1K%) was paid In Jan. 1907 and 2% was
In 1908, Jan., 1%; July. 1%; none since.
ROAD.—Operates 25-3 miles of track from Baltimore to Annapolis, which
has been converted to electricity. The co. a Iso owns a good deal of track¬
age which has been built for and leased to the United Rys. & Elec. Co.
OFFICERS.—Chairman of board, John Wilson Brown; Pras., J. N.
Shannahan; V.-P., T. O. Cherry; Sec. Ac Treas., Austin McLanahan; Gen.
Mgr.,
paid July 1 1907.
O.^D,^Porter; A"^9& Asst. Treas., G.S. Storrs.—Y. 98, p. 1608.
is obliged to maintain a fare not to
of Barre and Montpelier and give
franchise is in force.
V. 99, p. 1528.
Barre Ac Montpelier Trac. Ac Pow. Co.
exceed 5 cents within the city limits
transfers so long as the
acquired by interests friendly to the United Rys. Ac Elec. for the purpose,
among others, of using that company to finance the needs of the United Rys.
Ac Elec. Co. for additional property, and charter amended by Legislature In
Interest.
Outstanding.
Maturity.
--$1,000,000
0%
1,337.700 Oct. '19 1-H
1st refund mtge $2,500,000/ 1914
5 g A-O
569,300 Oct. 1 1944
($100 Ac $1,000)
c*Acr*tf ILR- at Amer. Trust Co., Boston, Trustee.
Barre & Montp Trac 1st M g f 1897
6 g M-N
100.000 Nov 1 1937
$100,000 ($500 each), not(Int. at American Tr. Co., Boston, trustee.
8ANOOR
RAILWAY
me.
$1,000,009 ($100)
Pref $3,810,000 ($100) cum
tfc*(
subject to call
Consolidated Lighting
Co
5 J-J
700.000 Jan 1 1920
Ltg Co
5 M-S
400,000 Mar 1 1927
Corry-Deavitt-Frost El Co—
6 M-S
115,000 Mar 1 1930
Waterbury Light Ac Power Co5 M-N
82,000
See text
Stock.—$2,473,800 pref. stock is reserved for conversion of 1st ref.
mortgage bonds.» Tax-free in Massachusetts.
Bonds.—The above bonds of light and power
companies are assumed
Vermont
Power Ac
Bangor
ELECTRIC
&
CO.
a
consolida¬
Orono Ac Old Town Ry., Bangor Hampden Ac Winter-
Put% Works Co., Old Town Electric Co., Brewer Water Co.
and Penobscot Water Ac Power Co.
& Northern RR.
V. 82, p. 333.
v
On Feb. 1 1907 purchased the Bangor
Owns the entire capita! stock of the
Bangor Power Co., the Orono Water Co. and (with the exception of one
share) of the Bar Harbor Ac Union River Power Co.
Owns and operates
the electric railway lines In Bangor and Brewer and the lines connecting
Bangor, with Brewer, Hampden,
Old Town, Charleston and
inter¬
mediate towns.
Also the entire electric lighting and power business of
Bangor, Old Town, Milford, Bradley, East Corinth, Orono, Brewer,
Hampden, Veazie, Kenduskeag and Orrington, with the exception of the
municipal lighting in Bangor, and furnishes the water supply to Veazie,
Old Town, Stillwater, Milford and Brewer.
In addition to the above the
company, through its controlled companies, does the entire electric lighting
and power business in Ellsworth, Blue Hill, Bar Harbor, Seal Harbor, Acc.
Also furnishes the water supply to Ellsworth and Orono.
Population
served estimated at 65,000 (Incl. controlled cos.).
Franchises.
Franchise for about 8 miles of track in Bangor expires in
1937; franchise covering operation of 2 miles of track in the city of Brewer
expires in 1940.
All others are perpetual.
1
Fares.—In Dec. 1918
was
auth. to increase fares from 5 to 6 cents as an
V. 107, p. 22, 87.
The co. has been auth. to issue 36 promissory 6% notes, each for $1,466,
dated Apr. 23 1919, maturing in monthly installments and secured by a car
trust mtge.
V. 108, p. 2628.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Common, $2,000,000 ($100)
$2,000,000
See text
Q-F
Pref $1,500,000 7% cum($100)
1,500,000 Apr '20,1 ^
7 Q-J
1st cons M, gold, $2,000,000,1 1905
2,000,000
July 1 1935
5 gJ-j
emergency measure.
_
($500, $1,000)
c*tff Guaranty
PH^^ln^o,.lst'8°ld,$600,-} 1899
000
Trust Co., New
5 g A-O
York, Trustee
599,000 April 1 1929
($500, $1,000)-- c*ntf flnt. at Old Colony Trust Co., Boston, Trus.
Bar
Har Ac Un R Pow Co 1st
Ac\ 1907
ref. $2,000,000($1.000)c*tf
8a.r
IstM
5 M-S
606,000 Sept 1 1935
/Commercial Trust Co. Phila.. Trustee.
L,«ht c<2\ 1901
M-N
100,000 May 1 1921
$100,000 ($500) c ntf flnt. at Portland Nat. Bank, Portland, Me.
Bangor Power Co, 1st mtge, 1 1911
See text
1,361.000 Sept 1 1931
$2,500,000 ($1,000)—c*tf jCentral Union Trust Co., N. Y., trustee.
Orono Water Co, first morW 1905
4H J-J
60,000 July 1 1925
gage,
$60,000
gold.
notUnt. at Portland (Me.) Nat. Bank.
Union
subject to call ($500).cntf (
Safe Dep.A: Tr. Co..Portland, Me. Trus.
Car trust certifs., $52,776
1919
6%
See text
See text
Light Ac Power Co.
by the Montpelier Ac Barre
bonds became convertible at
$250,000 of the 1st ref.
holders' option into pref. stock at par on Mar. 1
As of Dec. 31 1919, $27,700 had been so converted.
$257,000 addi¬
tional bonds will become convertible into pref. stock at par on Mar. 1 1921.
Red. as a whole at 105 and int. on any int. date on 4 weeks'notice.
$1,149,1916.
000
bonds
additions
are
and
reserved to retire underlying bonds and $844,000 for
Improvements
at
75%
of cost.
$235,000
Consol.
Vermont Power Ac Ltg. Co. bonds are held in
Ltg. Co. bonds and $43,000
sinking funds (incl. in amts. reported outstand.).
The Waterbury Lt. Ac
P. Co. bonds mature $6,000 yearly to Nov. 1 1921; then $7,000 yearly to
Nov. 1 1931.
$43,000 had been redeemed up to Dec. 31 1919.
The Barre
Ac Montpelier Trac. 1st M. 5s originally fell due Nov. 1 1917 but were ex¬
tended for 20 years.
EARNINGS.—For years ending Dec. 31:
Dec. 31 Yrs.— Gross Earns.
Tot. Net Inc.
Oct. 1919.
Int. A Rents. Bal. for Div.
S117.596
$81,694
112,891
92,187
$199,290
205,079
$452,960
?
1919
1918
1913,
to April 12
paid on the pref. stock Apr. 1
Dividends.—A dlv. of $2 50 was
covering the 5 months from date of organization on Nov. 12 1912
1913; $1 50 paid July 15 1913 and $1 50 quar. since to and incl.
aggregate capacity of about 13,570
addition is available by contract; 7,540 h.p. is
PROPERTY.—Power plants have an
The steam plants, under normal conditions, are held largely
as a reserve; 130 miles of transmission lines; undeveloped water power of
about 3,000 h.p. capacity.
The Barre Ac Montpelier Trac. Ac Power Co.
owns 9.75 miles of track between Barre and Montpelier.
58-lb. T rail.
Gauge 4 ft. 8H in.
water power.
ORGANIZATION.—Incorp. Feb. 16 1905 in Maine and Is
tion of the
Date.
STOCK AND BONDS.
Common
h.p., and 4,000 h.p. in
bangor,
& POWER CO.
BARRE LIGHT
of Bd of Directors. C. H. Tenney: Pr«s . H. T. Sands,
B. Tenney; Clerk, H. P. Wood; Treas., E. A. Bradley; Asst.
Aud., I. S. Hall. Under management of Charles H.
Tenney Ac Co., Boston.—V. 104, p. 2015; V. 105, p. 1999.
OFFICERS.—Ch
1st V.-P., A.
Treas., R,C. Tenney,
baton
rouge,
BATON ROUGE ELECTRIC CO.
ORGANIZATION, Acc.—Organized
in
la.
Louisiana;
does
entire
electric
railway, electric-lighting, power and gas business in Baton Rouge.
Rail¬
way franchise expires 1940; gas 1942, electric-lighting and power, 1988.
V. 88. p. 881
In Jan. 19i9 the company brought out
retire $147,000 6% coupon notes
also to provide for construction
$300,000 conv. 7% 3-yeair notes to
due at that time, and floating debt; and
requirements.
V. 110, p. 76.
Date.
STOCK AND BONDS.
Interest.
Outstanding.
Maturity.
$300,000 Dec '19,4%
J-D
200.000 Dec '19,3%
1st mortgage, $750,000. gold} 1909
5 F-A
493,500 Feb 1 1939
($500 and $1.000)—c*. tf/Int. at Old Colony Trust Co
Boston .trustee
Common, $800,000
($100)
Pref, $250,000 ($100) 6%
Conv
$500,000 ($100,\
notes
$500 and
$1,000)
1920
7 g J-J 1
300,000
Jan 1 1923
c*/Int. at Old Colony Trust Co., Boston, trustee
pref. is cumulative from June 1912.
Redeemable at 110.
$300,000 com. stock is reserved to exchange the conv. 7% notes due Jan. 1
1923.
Stock.—Div.
on
Bonds.—$225,000 bonds, not incl. in amount outstanding, are in treasury
be issued at not to exceed 8% of cost of additions and
improvements.
May be called, in whole (or in part for sinking fund) at
105 and int. on any int. day.
Sinking fund of 1 % per annum of bonds out
began Feb. 1 1914.
$31,500 canceled.
The 3-year notes are convertible
at option of the holder before maturity into com. stock of the company on
a $ for $ basis.
Are callable as a whole upon 30 days' notice at 102 and int.
during 1920, at 101 and int. during 1921,and at 100 and int. during 1922.
V. 110, p. 76.
of company and may
Dividends
—
In 1918, 8%;
from Dec.
paid Dec. 1915.
On pref. 3% s. a.
Initial div. of 2% on com.
in 1919, 8%.
1911 to and incl. Dec. 1919.
In 1916, 7%.
In 1917, 8%.
i
1919
ELECTRIC
APE., 1920.]
months ending Dec. 31:
Net,after Taxes.
Interest.
12
Gross.
EARNINGS.—For
Year—
Sink.Fund.
Surplus
$371,269
$139,696
$41,394
......
$98,302
267,809
121,156
41,423
79,733
ROAD.—Operates 6.23 miles of track in form of a single belt through
Baton Rouge: 9 cars; standard gauge.
Power station capacity, 1,500 k.w.
OFFICERS.—Pres., Harry H. Hunt; V.-Ps., Edw. Godchaux, Samuel
Weis; Sec., Victor D. Vickery; Treas., Henry B. Sawyer; Gen. Mgrs., Stone
& Webster Mgt. Assn.; Mgr. Thos. L. Small.—V. 101, p. 1806; V. 104, p.
1488; V. 110, p. 76.
1918
BEAUMONT, TEX.
EASTERN TEXAS ELECTRIC CO.
ORGANIZATION.—Incorp. in Texas in
the Jefferson
County Traction Co.,
July 1918 as a consolidation of
Beaumont Elec. Light & Power Co.,
& Power Co. and Beaumont Traction Co., all of whose
stocks had been owned by the Eastern Texas Electric Co. (of Me.), a hold¬
ing company. V. 107, p. 695. Does the entire electric light and power busi¬
ness in Beaumont and Port Arthur, the entire electric railway business in
Beamont and operates ah interurban electric raihvay between Beaumont
and Port Arthur, a distance of 20 miles.
Light and power franchises in
Beaumont expire in 1963; in Port Arthur in 1943; railway franchise in
Beaumont expires in 1981; interurban raihvay almost entirely on private
right of way.
In Aug. 1918 issued $750,000 3-yr. 7% notes to retire
$500,000 3-yr.
5% notes maturing Dec. 1 1918 (called for payment at par and int. Oct. 10
1918 at State Street Trust Co., Boston) and to reduce floating debt incurred
for additions and extensions. V. 107, p. 905.
Oulstanding.
Maturity.
STOCKS AND BONDS.— Date.
Interest.
$1,400,000 Apr'20,12%
Common, $1,400,000 ($100)-1,400,000
Jan'20, 3%
Pref cum $1,450,000 ($100)
6 J-J
1,444,000 Nov 1 1942
1st mortgage gold ($500 and/ 1912
5 g M-N
Port Arthur Light
198
State St. Tr. Co., Boston, trustee.
7 g F-A
750,000 Aug. 1 1921
State St. Tr. Co., Boston, Trustee,
5 g A-O
219,000 April 1 1943
$600,000 (call at 105K_-tf 1 Int. at Interstate Tr. & Bank. Co., Trustee.
Stock.—Pref. stock is callable at 110.
$50,000 held in trust for benefit
icompany (in addition to amount shown above).
Bonds.—Authorized amount of bonds not limited.
Additional bonds may
be Issued for 75% of cost of acquisitions, irapts., add'ns, &c.,
under certain
restrictions.
Callable as a whole (or in part for sk. fd.) at 105 and int.
Coupon bonds in denomination of $1,000 and $500 and registered bonds of
$5,000 and multiples.
V. 95, p. 1745.
$32,500 in sinking fund canceled
and $219,000 are reserved to retire the Beaumont Trac. 1st M. 5s.
Sinking
fund of 1% of bonds out, payable Nov. 1.
The 3-year coupon notes are
redeemable as a whole on 30 days' notice at 101 and int. prior to Aug. 1
1920 and at 100 and int. thereafter.
No further bonds may be issued during
the life of these notes unless the proceeds are applied to the retirement of
notes.
V. 107, p. 905.
$381,000 Beau. Trac. 1st M. bonds are held by
the Eastern Texas Elec. Co.
Red. all or in part at 105 and int.
Dividends.—6% is being paid on pref. stock.
Initial div.—2%—on old
Maine corp. was paid in July 1916.
In 1917 and 1918, 5%; in 1919, 5%; in
$1,000)
c*&r*tf_\Int. at
Coupon notes $1,000,000 gold/ 1918
($100, $500 & $1,000)_c*tf\Int. at
Beaumont Traction 1st Mtge J 1903
19
April, 2%.
12 months ending Dec. 31:
Net (aft.Tax) Oth.Inc.
Interest. Sink.Fund. Surplus
$1,390,350
$536,673
$7,500 $159,512
—
$384,661
1,131,753
469,593
7.776
148,932
328,437
PROPERTY AND PLANTS.—Combined capacity of power stations
at Beaumont and Port Arthur, 9,300 k.w.; power Is also supplied to Port
Arthur Trac. Co.
Capacity of ice plant at Port Arthur, 75 tons per day.
Miles of equivalent single
track, 30.8; trackage, 1.92, standard gauge;
45 pass., 4 trailers and 3 other cars.
The 20-mile electric railway between
Beaumont and Port Arthur was formally opened on Dec. 15 1913.
V. 97,
p. 1822.
OFFICERS.—Pres., Marshall M. Phinney; Sec., Geo. A. Peirce; Treas.,
H. B. Sawyer; Gen, Mgrs.* Stone & Webster Mgt. Assn.; Mgr., A. F.
Townsend.—V. 107, p. 695, 905, 1192, 2476; V. 109, p. 1079,2262.
1920,
Jan.,
4%;
EARNINGS.—For
Gross.
Year—
The Northern Electric Street Ry. Is leased for 900 years
Binghamton Traction Co., which has
1918 filed with the Penna. P. S. Comm. a new tariff
Increasing fares in zones in and out of Scranton. the minimum charge in
Scranton being advanced from 6 to 8 cents. V. 107, p. 1102.
STOCK AN D BUNDS—
Date.
Interest.
Ou standing.
Maturity.
Fares.—In Sept.
^tock $6.000,000
$6,000,000
2.900.000 June 1 I960
-
•Icran.&BingRR $10,000,000)
1910
6 J-D
g($l,00Q, $500 & $100)-.c*/Int. at Anthracite S. Bk., Wilkes-Barre, trus.
Northern Elec St Ry $1,200,-1 1907
5 J-D
. 1,200,000 June 1 1957
000 ($500 and $1,000)—c*j Int. at Anthracite S. Bk., Wilkes-Barre,trus.
Bonds.—Scranton & Binghamton RR. bonds are callable since June 1
1915 at 105 and int.
Northern Elec. St. Ry. bonds are red. at 105 and int.
■linking fund of $10,000 per annum began Dec. 1 1912.
EARNINGS.—Of the combined properties for 12 mos. ending June 30
1917, gross,
$348,116.
In 1916, gross, $886,742; net,
$1,009,614; net, $374,717.
ROAD.—46 miles In operation between Scranton and Montrose, with a
oranch to Lake Winola.
The road as projected will extend to Bingham¬
ton, N. Y.—V. 100, p. 1833;
V. 106, p. 2451; V. 107, p. 182, 1102.
Railway Co.—A trolley road.
Binghamton RR. owns 99% of the stock.
Receiver Appointed.—On Oct. 8 1918 Judge Geo. W. Ray In the U. S.
Dist. Court in Albany appointed William G. Phelps receiver for the co.
V. 107, p. 1481.
Receiver's Certificates—In Oct. 1919 the receiver was auth. by the N. Y.
P. S. Comm. to "issue $9,000 receiver's certifs. to meet the cost of extending
the Port Dickinson line to Hires' condensed milk factory.
V. 109, p. 1700.
ORGANIZATION.—Is a consolidation Sept. 30 1901 of the Binghamton
RR. Co. (chartered Aug. 11 1892 as a consolidation of all street railways In
city) and the BIng. Lestershire & Union RR.
Principal franchises granted
by special Acts of Legislature, and are perpetual and practically exclusive.
Fare Increase.—In March 1920 was auth. by the Binghamton Common
Council to increase fares to 6 cents, this rate to continue in effect until
Jan. 15 1923.
V. 110, p. 1288.
(1)
Binghamton
The Scranton &
Interest.
Outstanding.
Maturity.
4 F-A
$978,995
See text
1893
5 g J-J
482.000
See text
$900,000, g ($l,000)-.c*tfUnt. at Metropol. Tr. Co., N. Y., Trustee.
1895
5 g J-D
147.000 June 1 1925
Sing Lest & Un 1st M $250,000
gold,
principal and Interest at Metropolitan Trust, New York
Binghamton Trust Co.. Trustee.
interest guar
tf
1901
5 g M-N
1,745.000 Nov 1 1931
3!ng Ry 1st consol mtge, $2,500,000 gold ($1,000) c*tf Int. at Fidelity Trust Co., Buffalo, Trustee,
or Seaboard National Bank. New York.
1915
6 F-A
49,000
See text
Equip trust certif ($90.000)
1918
6%
30.000
Receiver's certificates $75,000
Bonds.—The bonds of 1893 mature $5,000 yearly 1910 to 1917; $10,000
yearly from Sept. 1 1918 to 1922 and balance 8ept. 1 1923.
Of the Bing¬
hamton Ry. 1st consol. mtge., enough are reserved to retire underlying
1>onds and the remainder for acquisitions, extens., &c.t under careful
restrictions.
They are subject to call at 110 and int.
Exempt from N. Y.
State, county and municipal personal property taxes.
See v. 73, p. 1312;
V. 78, p. 701; V. 88, p. 748.
The equipment trust certificates of 1915
mature $5,000 semi-annually.
They are secured by 20 double-truck cars,
Date.
STOCK AND BONDS—
•Stock, $1,150,000 ($100)
Binghamton
RR Co mtgef
costing $118,503.
paid Jan. 31 1902; 2% Mar. 3 1903; 2% April 11
1905.
A scrip dividend of 20% was paid April 18
incl.,
yearly.
In 1911, Sept., 3%.
In 1912
ind 1913, 4%.
In 1914. Feb .2%.
None since.
ROAD.—Operates 49.25 miles of track.
Connects Binghamton with
Johnson City, Hooper, Endicott, Union and Port Dickinson.
Standard
gauge. 60-lb. to 103-lb. T and girder rail; 75 motor cars and 27 trail cars.
EARNINGS.—For year ending Dec. 31:
Surplus.
Net.
Int. A Taxes.
Year—
Gross.
def$60,715
$125,324
$186,039
1918
--$648,243
81,972
242,925
160,953
1917
705,030
102,535
244,872
142,337
1916
651.527
Dividends.—2% was
1904 and 2% April 10
1905.
In 1906 to 1910
HARBOR,
auth. by the Mich. RR. Comm. to Increase
mile. V. 109, p. 1079.
interurban lines to 2^ cents per
STOCK AND BONDS.
Date.
Interest.
Outstanding.
Maturity
($100)
—
$800,000
Preferred, $400,000 ($100)
6 F-A
400,000
See text
Refund mtge *2,500,000 gold/ 1909
5 g M-N
499,500 Nov 1 1939
($500 and $1,000)-c [Interest at Columbia Tr. Co., Loulsv.,trust.
1906
5 g M-N
825,000 Nov 1 1935
1st cons M, $1,000,000, gold
($500 and $1.000)
c Int. at Columbia Tr. Co., Louisv., trustee
1900
5 g M-S
114.000 Sept 1 1920
B IT & S J El Ry & L 1st M,
Common
-
.
$200,000, gold ($1,000)
\Int. at Con. & Com. Tr. & Sav. Bk.,
Chi., tr.
$1,000,000 1st consolidated bonds, $114,000 are re¬
liens.
They are subject to call on any Int. day at
105.
The bds. of the old co. after 1910 have a sk. fd. of $10,000 per ann.
but bonds cannct be called.
See V. 71, p. 1268; V. 72, p. 282.
Or the ref.
bonds, $1.600,000 are reserved for prior liens.
Dividends.—Pref. dive, at rate of 6% per annum are being paid.
EARNINGS.—For years ending June 30:
Balance.
June 30
Oper.
Net (after
Other
Interest, Pf.Divs.
Surplus
Year—
Revenues.
Taxes).
Income. Rents,&c. (6%).
$23,385
$24,000
1918-19
$269,688
$131,330
$592
$84,538
5,006
24,000
Bonds.—Of
the
to retire prior
508,566
1917-18
118,955
240
90,189
track in St. Joseph and Benton
Eau Claire to Dowagiac and
ROAD.—Operates 10.36 miles of single
Harbor, with extensions of 25 miles through
11.33 miles to Watervliet; also operates 4.73
miles second track, 5.7 miie^
operated, 60.1'/
sidings, &c., and 3 miles of leased line, making total mileage
miles.
60. 70 and 73-lb. girder and T rails.
44 passenger and 34 other
OFFICERS.—Pres.. C. K. Minary, Benton Harbor. Mich.: V.-P..
ning Chambers,
p. 1079.
Louisville, Ky.; Sec., L. W. Botts,
cars.
Hen-
Louisville.—V. 109,
w
W. H.
107, p.
BIRMINGHAM, ALA.
BIRMINGHAM RY. LIGHT & POWER.
Controlled by the American
Cities Co. (see under "New
Orleans"), which
89.62% of the common and 79.35% of the preferred stock.
Receiver.—On Jan. 23 1919 Judge Grubb of the Federal Court appointed
Lee J. C. Bradley receiver for this company and the Birmingham Tide¬
iwns
water Co. upon
petition of the American Cities Co.
V.
Notes.—Chairman, Thos. J. Walsh;
Committee for 6%
Harris Stetson, Geo. Taylor; Sec., Miss D.
Place, N. Y. City.
Depositary, Equitable Trust Co.,
have been called for.
V. 108, p. 1059.
E. W. Rollins,
108, p. 377;
Morris K. Parker,
Earl, 43 Exchange
N. Y. Deposits
ORGANIZATION.—Consolidation on June 13 1901 of the Birmingham
the Consolidated Electric Light Co. and the Birmingham Ry.,
Light & Power Co.
Owns and operates the entire street
gas,
olectric-light and power and steam heat business of Birmingham and all the
Gas Co.,
railway,
principal near-by cities and towns, including Brighton, Bessemer, Boyles an
frondale; an in^rurban line about 12 miles of which is in operation, from
East Lake to Ensley and Pratt City; does the city lighting in Birmingham,
Bessemer and Brighton.
Franchises covering gas, electric-light and power
business and street railway lines are, with some unimportant exceptions,
stated to be perpetual.
Has a contract with the Alabama Power Co. by
which the latter furnishes electricity for operating the railways and also for
light and power service in Birmingham.
Under this contract the company's
steam station Is held as a reserve plant.
V. 98. p. 1691. _
_
In April 1917 acquired the stock of the Birmingham-Tidewater Ry. In
consideration of the guaranty of that company's bond issue, principal and
Interest.
V. J04, p. 1590.
■
.
Fares.—In July 1918 the voters of Birmingham defeated a provision
authorizing the co. to charge a 6-cent fare. V. 107, p.- 905.
On Aug. 23
1919, however, the City Commission auth. the co. to increase fares to 6 cts.,
effective Sept. 4 1919.
This Increase Is temporary and may be
,
_
,
modified
BIDDEFORD,
ME.
by the City Commission at any time.
V. 109, p. 981.
Wage Contract
or Three Years from Sept. 1 1919.—See V. 109, p.
Up to time of going to press the $1,200,000 2-year notes due
had not been retired.
Int. due April 1 1920 on the gen. mtge. ref. 4^% bonds was paid
due.
V. 110, p. 1414.
1179.
April 1 1919
BIDDEFORD & SACO RR.—A trolley road.
ORGANIZATION.—incorporated Feb. 19 1887.
STOCK
OFFICERS.—Pres., F. L. Fuller; V.-P., R. W. Day; Sec.,
TIecox; Treas., E. M. White.
Office, Binghamton, N. Y.—V.
1481; V. 108, p. 377; V. 109, p. 1079, 1700, 1985; V. 110, p. 1288.
River Traction Co.
Fares.—In Sept. 1919 was
fares on the
,
AND
BONDS
Date.
Interest.
A-O
Stock ($50) $100,000
Matuiitt,
$100,000 Apr *19.5%
Outstanding.
$300,000 ($1,000) f 1900
igJ-D
150.000 June 1 1940
gold c*. No 8 t but can be]Interest at Fidelity Trust Co., Portland
called In 1920
tf(
Me., trustee.
Dividends.—During years end. June 30: 1906, 4%; 1907-09, 5%; 1910.
7H % (changed to s.-a.); 1911 and 1912, 5%: 1913 and 1914. 6%; 1915, 8%'
1916: 10% and special div. of 20% on Aug. 1 1916.
In 1917, 10%. In
1918, 10%.
In 1919, 10%.
In 1920, April, 5%.
EARNINGS.—For calendar years:
Year—
Gross.
Net.
Int.,&c. Dividends. Surplus.
mort
1918
$100,598
86,815
—
ROAD.—Operates 8 miles
Beach.
$6,000
$10,000
$2,564
9,820
10,000
835
of track between Saco. Biddeford and Old
$18,564
20.655
Orchard
OFFICERS.—President. C. H. Prescott, Biddeford:
F. Lord.—V. 70, p. 1048; V. 73, p. 494.
Secretary
and
Treasurer, E.
SCRANTON
t
Electric Ry.).
from July 1 1910 to the Scranton &
assumed the former's bonded debt.
—
BENTON
and the St. Joseph
1st
trolling Interest in the Northern Electric Ry. and over one-half of the bonds
of the Northern Electric Street Ry. (whoso stock is owned by the Northern
-
MICH.
BENTON HARBOR-ST. JOE RAILWAY & LIGHT CO.
ORGANIZATION.—Incorporated in Michigan in Jan. 1906 and Is a con¬
solidation of the Benton Harbor & St. Joseph Electric Ry. & Light Co.
served
9
RAILWAYS
BINGHAMTON,
&
BINGHAMTON RY.
Common ($100),
$3.900.000
Interest.
J-D
J-D
when
Maturity.
$3,900,000
See text.
3.500.000 Dec 17. 3%
Outstanding.
Pref($100), $3,500.0006% cum
5 g J-J
837,000 July 2 1924
Birmingham Ry & El 1st M gf 1894
$1,250,000 ($1.000)
c*l Int. at Central Trust Co.. N. Y. Birming¬
ham Tr. & Sav. Co., Birmingham. Trus.
Not subject to call.
Gen
1904
4HI g A-O 8.720.000 April 1 1954
M.
ref,
$10,000,000,
.....
c*(Int. at Canal-Commercial
gold ($1,0001
t
New Orl., Trus., or
Tr. 9c Sav. N. Y.
Bk.,
at N.Y. Tr. Co.,
4,688,000 May 1 1957
Boston,
M $25,000,000/ 1907
6 «M-N
($1,000) gold sink. fund_c*Unterest at Old Colony Trust Co.,
Not subject to call.
1 Trustee. and N. Y. agency of company.
Ref &
Notes
exten
$2,000,000
($l,000)-.c* 1917
Bonds.—Of the new
6 A-O
$25,000,000 bonds,
1,200.000 Apr 1 1919
$9,580,000 are reserved for prior
the cost of new power house If first lien on same, and
$9,486,000 for 80% of the cost of additions If the net earnings are IX
times the int. on all bonds outstanding, incl. those to be issued, and provided
10% of gross earnings have been expended for maintenance within previous
12 months.
The directors may make the rate of int. on succeeding install¬
ments not to exceed 6%.
Sinking fund of
of 1% of bonds out began
Sept. 1 1918.
On April 1 1920 $46,000 was held by trustees for sinking
fund
Bonds purchased to be held alive and interest thereon reinvested.
For details of bonds, property, &c.. see V. 87, p. 1603.
Of the gen. M. of
1904. no more bonds can be issued.
Sinking fund of X of 1 % of bonds out
begins Aug. 1 1924.
The bonds are sub. to call at 105 & int. on any int.
day on 60 days' notice.
For 1st 5s of 1894 $12,500 per ann. Is pay. Into
a sinking fund: $113,000 have been canceled.
The 2-year notes are red. at
I00H and int. on 30 days' notice.
Interest payable in New York. Re¬
liens, 51,200.000 for
N. Y.
/
Receivership—Default.—In June 1918 V.-P. R. W. Day and director
C. R. Bedford of the Binghamton Ry. were appointed receivers of the
Scranton & Binghamton Ry. upon application or Binghamton Ry., due to
the S. & B. Ry.'s inability to meet the interest due June 1 1918 on the
$2,900,000 6% bonds due in 1960, V. 106, p. 2451.
^
Committee for S. & B. 6s.—Chairman, G. Tracy Rogers; F. W. Wollerton, William L. Foster, W. L. Connell. F. L. Fuller and G. R. Bedford,
WIlkes-Barre, attorney. V. 107, p. 182.
ORGANIZATION.—Incorp. In Delaware Oct. 15 1910. Owns entire
stock of the Scranton & Binghamton RR. and has assumed its bonds.
The Scranton & Binghamton RR. owns 99% of the stock of the Bingham¬
ton Ry., the entire stock of Scranton & Binghamton Traction Co., a cou-
Dale.
STOCK AND BONDS—
maining notes are
reserved for exts., improvements,
Up to Apr. 1 1920,
these had not been
retired.
&c. V, 104, p. 1144.
ELECTRIC
10
Dividends.—First div. on pref. stock, of 3%, paid In Jan. 1902, and
thereafter to and lncl. Dec. 1914; In June 1915, none; Dec,, 3%.
June 1916, 3% and 1% on acct. of arrears; Dec., 3%; June 1917, 3%
s.-a.
3%
In
ami
1% on account of arrears; Dec.. 3%; none since.
On com. stock in 1903,
3%; in 1904, 4%; In 1905, 4%; in 1906. 5%; in 1907 and 1908, none; 1909,
2%; 1910, &%\ 1911, 7%; 1912, 8%; 1913 and 1914, 6%; none since.
REPORT.—
Gross
Net after
Interest and
Surp.,for
Year—
Earns.
Taxes.
Olh. deductions, renew.,&c.
1919
$4,577,356
$1,179,544
$1,304,286
def.$124,742
1918.
3,742.805
1.094,445
862,567
231,877
ROAD.—Operates over 150.99 miles of single track in cities of Birming¬
ham Bessemer and in Jefferson County.
Standard gauge.
All but 6 miles
70 to 100-lb. T and girder rails.
Owns 271 passenger, 47 freight and 31
miscellaneous cars.
Total, 349.
OFFICERS.—Pres. & Gen. Mgr., J. S. Pevear, Biraiingham; Sec. &
Treas., J. P. Ross; Asst. Sec. & Asst. Treas., N. H. Hawkins.—V. 104,
p. 1488, 1590, 1700; V. 106, p. 818, 2559; V. 107, p. 500 . 905; V. 108,
p. 377, 1059; V. 109, p. 981. 1179; V. 110, p. 1414.
-—
,
,
Birmingham-Tidewater Railway Co.
Receiver
^
„
Appointed.—See Birmingham Ry., Lt. & Power Co. above.
ORGANIZATION.—A reorganization in 1917 of the Biriotagham
Ensley
& Bessemer RR. as per plan No. 1 in V. 101. p. 1013.
The company's
$325,000 stock was transferred to the Birmingham Ry., Lt. & Power Go. in
consideration of the latter's guaranty of the payment of prin. and int. of
this company's bonds.
Committee for 1st Mlge. 5s.—Charles H. Zehnder, J. D. Kirkpatrick.
Howard R. Taylor, and Sec., Joseph Diehl Fackenthal, 165 B'way, N. Y.
Depositaries: Empire Trust Co., N. Y.. Old Colony Trust Co., Boston, and
the Fidelity Truf* Co.. Baltimore.
Deposits have been called for.
Fare Increase.—See Birmingham Ry., Lt. & Power Co. above.
BONDS—
Date.
Interest.
Outstanding.
Maturity
First mtge $4,000,000 gold! 1916
5 g J-J
$1,500,000
Jan 11940
($500 and $1,000) —Int. at Empire Trust Co., N. Y„ trustee.
The bonds are red. on any int. date at 101 and int.
They are guar.,
p. & I., by the Birrn. Ry., Lt. & Power Co.
V. 104, p. 1700.
0.805 mile sidings0.676 mile misc.; total, 32.716 miles.
70-lb. steel rails; standard
Has 25 P-A-Y-E steel coaches and 3 misc. cars.—V. 104, p. 1700;
v..109, p. 981.
;<S;
ROAD.—Owns and operates 31.235 miles main track,
&c.,
gauge.
RAILWAYS
(Vol. 110.
In June 1906 the Mass. Legislature passed a law permitting the Boston
Elev. to construct two subways in Cambridge, and tolssue stock or bonds to
At the end of 20 years the city of Cambridge is to have the
meet the cost.
right to purchase these subways by paying their cost plus 7% int., less divi¬
dends
V. 83, p. 93.
On Jan 4 1912 the first- through train was run in the
new subway; it was opened for public travel Mar. 23 1912.
V. 94. d. 1185.
New Construction of Subways and Old
Legislature passed an Act (accepted by the city and Boston Elev,
Sept. 1911) providing for the construction by the city of three'additlone*
subways, viz., Dorchester Tunnel. Boylston St. Subway and East Boston
Tunnel extensions, and the extension of all existing contracts until July 1
1936. the date to which contracts for new lines are to run.
Annual rental
after expiration of eld contracts to be as follows:
Tremont St. Subway
(see under West End), 4H % on net cost; East Boston tunnel (now expiring
June 10 1922), 4)4% on net cost (provision for tolls from passengers using
the tunnel eliminated for extension period); Washington St. tunnel (now
expiring Nov. 30 1933). 4)4% on net cost.
Annual rental for new lines;
Cambridge connection, for first 20 years, 4H% on net cost; thereafter 4)4 %
on net cost; Dorchester and Boylston tunnels and
East Boston tunnel ex¬
tension, 4)4 % on net cost.
The Act also provides that all contracts are to
continue after July 1 1936 until terminated by a two-years' notice by either
party.
The various new leases and extensions of old leases were signed by
the
parties thereto
on
V. 93, p. 1785.
Dec. 7 1911.
The new Boylston St. rapid transit subway on which
Mar. 8 1912, was opened for traffic Oct. 3 1914 from the
work was begun
Tremont St. sub¬
Charles St., and the Public Gardens, westward toward Brookline, 1 )4 miles.
The subway cost the city about $4,500,000 (V. 99, p.1213).
The extension of the East Boston Tunnel, on whiclwconstruction was begun
Nov. 29 1912, was opened March 18 1916, permitting an 18-minute schedule
from Central Square, Cambridge, to Maverick Square, East Boston. Esti¬
mated expenditure on this project. $2,400,000. V. 102, p. 1058. Construc¬
tion of the Dorchester Tunnel, which is an extension,of the Cambridge sub¬
way, was begun on May 30 1912.
The operation of cars to the Broadway
Station in South Boston was begun on Dec. 15 1917. and the completed
tunnel to Andrew Square was opened for traffic on July 1 1918.
On
April 4 1915 trains Degan operating to Washington Station, just east of the
Summer and Winter stations of the Washington Street Tunnel, and on
Dec. 3 1910 to South Station Under, at Dewey Sq. and South Terminal
RR. station.
Cost of this tunnel without equipment is estimated at up¬
wards of $9,800,000
way,
near
Everett Elevated
Extension.—The Everett elevated extension and bridge
In connection therewith were
BLUFFTON, IND.
Contracts Extended.—Jo July 1911
Mass.
In
opened
on
Mar. 15 1919.
TRACTION CO.—A trolley road.
ORGANIZATION.—Incorp. in Indiana June 1914 as a reorganization
of the old Marion Bluffton & Eastern Trac. Co., sold under foreclosure Id
Feb. 1914.
The old company was placed in receivership as a result of
a head-on collision on July 7 1912 in which four persons were killed and 6C
or more Injured (V. 95, p. 297).
Damages by Noise.—In Aug. 1902 Judge Mason, in the Superior Court
at Boston, held that the company is liable for damages from noise caused
by the operation of trains.
V. 75, p. 496.
This was affirmed April 1903
by Massachusetts Supreme Court.
V. 76, p. 809.
Fares.—In May 1918 was auth. by the Indiana P. S. Comm. to increase
fares from 2 to 2 K cents per mile, mileage books to be sold on a basis of
providing for public operation with service at cost and a fixed
rate of return on the company's common stock (compare V. 102, p. 2076;
V. 104, p. 2450).
A certificate accepting the Act and evidence that
$3,000,000 new preferred stock had been subscribed for by the stock¬
holders as provided therein were filed with the State Secretary later in
the month.
V. 106. p. 2227, 2344, 2755.
The Act went Into effect
July 1 1918 and provides substantially as follows: (1) Road to be managed
by five trustees, appointed by the Governor; (2) Period of public operation,
10 years or longer, at option of Commonwealth; (3) Trustees have power to
regulate fares and transfer privileges, and determine character and extent
of service; (4) Company to raise $3,000,000 by sale of pref. stock at not
less than
par, $1,000,000 to be used as a reserve fund and $2,000,000 for
add'ns & hnrts.; (5) Fares must be sufficient to meet cost of service, pref.
divs. at 7% and com. diva, at rate of $5 a share for first 2 years, $5 60 for
"next 2 years and $6 during balance of period of public operation; the first
payment is to be made 6 mos. after commencement of public operation; (6)
Trustees shall adopt a schedule of 8 different grades of fares, of which 4 shall
be below and 4 above rate of fare first established; schedule shall be increased
whenever fare is changed, so that there shall always be not less than 4 grades
above and 4 below the existing fare (see "Fares" below). (7) Whenever in¬
come is insufficient to meet cost of service, the reserve fund shall be drawn
upon; if more than sufficient, excess shall be transferred to the reserve fund;
(8) If on last day of June 1919 or on last day of any Sept., Dec., March or
June thereafter, reserve fund exceeds by 30% or more original amount, and
income during preceding 3 mos. exceeded cost of service, next lower grade
MARION
&
BLUFFTON
2 cts. per mile and commutation books at 1.56 cents a
STOCK AND BONDS—
Date.
Stock $216,000 ($100)-
Interest.
mile. V. 106,
Outstanding.
——-
p.
2345
Maturity
$210,000
1st M gold $504,000 ($1,000)/ 1914
5 g J-J
504,000 July 1 1934
Sink.fd. 1 % per annum,
)Int. at Fletcher Sav.A Tr. Co.,Indianap.,Tr
EARNINGS.—For cal. year 1919, gross, $140,922; net, after taxes,
$36,823.
ROAD.—Operates 32 miles of track between Marion, where connection
Is made with union Trac. Co. of Indiana lines and Ind. Rys. & Light Co.,
and Bluffton, Ind., connecting there with Fort Wayne & Northern Indian#
Trac. "and Union Trac. Co. of Indiana.
Standard gauge.
70-lb. T rail.
OFFICERS.—Pres., James W. Sale; V.-P,, Abram Simmon; Sec. 8c Act¬
ing Gen. Mgr., James S. Clark; Treas., J. S. Gilliland.—V. 106, p. 2345.
BLUFFTON
GENEVA
&
CELINA
TRACTION
consisting of 19 miles of track on private right of
and Geneva through Vera Cruz and Linn Grove,
sale
on
Oct.
13
1917 to Thos.
dismantling of the line
was
CO.—This
road,
between Bluffton
sold at receiver's
At last accounts th<
was
Flinn for $118,000.
under
BOISE
way
way.
CITY, IDAHO.
BOISE VALLEY TRACTION CO.
Controlled through stock ownership by the Idaho Power Co. (V. 104, p
1148), all of whose common stock except directors' shares Is In turn owned by
the National Securities Corp. (V. 100, p. 1873, 2010). The Trac. Co. owns
in fee all the railway property of the old Idaho Ry.,Lt. & Power Co. except
the Boise RR. Co., Ltd. (now the Boise Ry., V. 105, p. 715).
There
remains outstanding against the property the following issue of bonds:
BONDS—
Date.
Interest.
Outstanding.
Maturity.
1900
5 g A-O
$1,020,000
1946
($1,000)8 f&sub to call.c&r/Int. at Colonial Trust Co., Pittsb., Trustee.
ROAD.—69 miles single track equivalent of interurban lines and 11 miles
of city lines; total, 80 miles.
Boise & Int 1st M $5,000,0001
g
BOSTON.
MASS.
BOSTON ELEVATED RAILWAY.
ORGANIZATION.—Charter granted in 1897 provides for an extensive
system of free transfers.
On April 29 1903 leased from the Old Colony Street Ry. (now merged In
the Bay State St. Ry.) all that company's tracks in the city of Boston,
amounting to 23.753 miles.
The lease is for 99 years and provides that
besides paying taxes the Elevated Co. will pay 0)4% of replacement value
(appraised at $353,979, less the rental or certain short pieces of track
appraised at $13,866) of the property leased as of date Feb. 16 1903, and
4% on th
cost of all additions and betterments.
Lease of West End.—The West End Street Ry. is leased until June 10 1922
Consolidation with West End Street Ry.—In July 1911 Massachusetts
Legislature passed an Act (signed by the Governor on July 21 1911) super¬
seding that approved May 28 1908 (V. 80, p. 917, 1342), permitting the
consolidation of Boston Elev. and West End St. Ry. at the expiration *
the present lease, on June 10 1922.
8% cum. 1st pref. stock of Bost. Eie>
(having the ordinary voting powers, but not "entitled to participate in any
increase or issue of new stock, com. or
pref."), to be issued, $ for $. for West
End pref. and 7% cum. (or 8% if arbitrators so decide) 2d prei. (having
all voting
powers without exception) for com. stock of West End,
After
the Issue of the new pref. shares no other stock to bo issued "prior or equal
to such 1st pref. and 2d pref. stock without the consent of two-thirds of the
holders of such stocks, respectively."
The Act also provided that the Street
Ry. forthwith sell to the Elevated Co. all unused real estate, the proceeds
not exceeding $1,500,000 to be invested as a special trust fund and to accum¬
Public Management and Operation—Service at Cost.—On June 3
of the
company and the West End Street Ry.
shareholders
the
1918 the
accepted
Act
of fare shall be
adopted: if reserve fund is less than 70% of original amt.. and
during preceding 3 mos. income was less than cost of service, next higher
grade or fare shall be adopted.
Fare shall continue to be decreased or in¬
creased if reserve fund is above or below said limits; (9) If reserve fund is
Insufficient to meet deficiency in cost of service, State shall make up the
deficit and assess same upon cities and towns in which the co. operates;
(10) At end of period of public management and operation, road reverts to
board of directors, who may continue to ooerate same on service-at-cost
plan, and pay $6 a share com. divs.; (11) State has option of taking over the
road by assuming liabilities, and paying in cash an amount equal to that
paid in by the stockholders; also State may take over West End St. Ry. if
latter has already been merged into Boston Elevated, the West End pur¬
chase price to be an amount in cash equal to amount paid in by com. stock¬
holders of West End plus par value or the pref. stock.
Report of Mayor's Committee.—V. 108. p. 876.
Report of Trustees for Quarter end. Sept. 30 1919.—See V. 109, p. 1697.
Trustees.—The following have
been appointed trustees under the
"Public Operation Act": Chairman, James F. Jackson, Samuel L. Powers,
Winthrop Coffin, John F. Stevens and Stanley R. Miller (Sec.).
V. 106,
p. 2755; V. 107. p. 80, 1836. 2374; V. 108. p. 76. 377. 479.
Decision.—On July 22 1919 Judge Pierce of the Mass. Supreme Court
refused to issue a temporary injunction restraining the State Treasurer
from paying $4,000,000 to the trustees to meet a deficit in the company's
operating expenses as provided for in the above Act. V. 109, p. 370.
Compare V. 108. p. 377, 682.
■
ulate until June
10
1922.
Thereafter the annual income thereof
shall
be
applied to cancellation of 2d pref. stock.
When all the 2d pref. has been
retired then said fund shall be applied by the Elevated Ry. Co. to
any
fmrpose for which stock and bonds can legally be issued.
See terms of Act
n V. 93, p. 344.
Shareholders of both the Boston Elev. and West End St.
Ry. .approved the Act; the former on Aug. 24 1911 and the latter on Sept. 6
1911.
V. 93, p. 666. | Holders oLWest End com. and pref. stock may on
or before June 10 1922 exchange their stock at par for Elevated
Ry. common
After June 10 1922 holders of Bost. Elev. 1st or 2d pref. may exchange
their stock for an equal amount at par of Bost. Elev. common.
On Sept. 5 1911, in a suit brought to test the constitutionality of the
Merger Act, Judge Colt in U. S. District Court sustained the demurrer of
the West End St. Ry. and dismissed the suit to prevent the merger.
V. 95.
618.
New suit brought by a West End shareholder in France on Dec. 31
1913 (V. 98, p. 74) also dismissed.
Subways.—in Dec. 1896 the West End Street Ry. leased the right to use
the Tremont St. subway in Boston.
See terms under West End Street Ry.
On Dec. 24 1904 the East Boston tunnel (under Boston Harbor) was
leased by the Boston Elevated Ry. until June 101922 for a rental of 44 of 1 %
of earnings of all lines owned, leased or
operated.
The company also col¬
lected a toll of lc. per person, which went to the city, but tolls were abol¬
ished Feb. 8 1916 by an Act permitting the city to assume them each
year
by act of the City Council appropriating sum sufficient to cover int. and
■kg. fd. requirements for the year.
The tunnel was opened Dec. 30 1904.
It extends from the main land to East
Boston, 1.4 miles, and cost $3,500,000.
On June 28 1902 Washington Street
Subway bill became a law.
The city
p.
constructed
a
tunnel for elevated trains and leased same to the Boston
Eevated Ry. for 25 years at an annual rental of
4H % of total cost of con¬
struction, which was $7,901,700 net. V. 88, p. 98. Proposition was ratified
7 voters at Dec. 1902 election. V. 75. p. 28. 496. 1315; V. 77,
2097;
P/ 217. The Washington Street tunnel began operation Nov. 30
V. 87, p. 1477.
p.
J
•
§
1908J
•
"Control Act" Upheld.—On April 3 1919 the Mass. Supreme Court in an
opinion submitted to the State Senate held that the Act above described
is constitutional.
The Senate requested the opinion in order to obtain
a decision from the court as to the constitutionality of two bills then pend¬
ing, both of which provided for a rate of fare less than the cost of furnishing
service, the deficit to be made up by direct taxation.
The court held that
it Is within the constitutional power of the Legislature to pass such legis¬
lation.
V.
108,
p.
1390.
Deficit of Co. for 1918-19 Assessed
upon
Municipalities.—The total deficit
of the system for the year ending June 30 1919 amounted to $3,980,152,
plus $59,622 int. on the bonds of the Commonwealth, making a total of
$4,039,774 to be assessed upon cities and towns.
Of this amount the tax¬
payers
of Boston are obliged to pay $2,905,931, or over 71% of the
total deficit. V. 109, p. 774.
A bill in equity has been filed in the Supreme
Court, Boston, seeking to have the above assessment upon that city de¬
clared Illegal. V. 109. p. 774.
New Equipment—Investment in Property 1911-1916.—See V. 104, p. 862.
In June 1918 the Mass. P. S. Comm. approved the purchase of 200 centreentrance motor cars and 100 frailer cars. Y. 106, p. 2449; V. 108. p. 1604.
Fare Increases.—In July 1918 a fare increase from 5 cents to 7 cents, effec¬
tive Aug. 1 1918, was announced.
V. 107, p. 180, 290, 400, 500.
On
Dec. 1 1918 it again became necessary to raise the fares and an 8-cent rate
was therefore put into effect. V. 107. p. 2097
2288, 2374.
On July 10.
1919 fares were raised to 10 cents. V. 109. p. 67. 170.
Zone System Suggested.—V. 109, p. 887.
Relief from Subway Rentals and Taxes Asked.—In Dec. 1918 the trustees
petitioned the Legislature to relieve the co. from paying subway rentals
and taxes, in order that additional money might be provided for the mainte¬
nance and rehabilitation of the system.
V. 107 p. 2374.
A bill providing
for the sale of the Cambridge subway was killed by the Legislature on June 11
1919. V. 109. p. 171; compare V. 108. p. 678.
A new bill, however, pro¬
viding for this sale was passed by the Legislature and signed by Governor
Coolidge in Dec. 1919.
This bill provides for the purchase of the subway
from the co. at a cost not to exceed $8,000,000, the subway then to be
rented to the co. at a rate equivalent to 4)4% on the bonds to be issued
by the State on account of the purchase of the property.
The $8,000,000
received by the co. is to be used for the purchase of rolfing stock and other
equip., which otherwise could not be obtained.
V. 109, p. 2439.
In
Mar. 1920 we were Informed that the subway had been sold to the State
and payment for sanle of $7,868,000 is to be made May 1 1920.
See
also V. 110, p. 1414.
,
In Feb. 1920 the trustees were auth. to issue $1,500.000
30-yr. 7% coupon
a like amount of
6% bonds due Mar. 1 1920.
V. 110,
658, 764.
We have been advised, however, that this issue was taken
up by notes receivable.
Strike.—V. 109, p. 269, 370.
bonds to refund
p.
APR., 1920.)
ELECTRIC
STOCK AND BONDS—
Date.
Interest.
Stock, $23,950,000 ($100)
Pref stock, 7% cum ($100)
Outstanding.
Maturity.
Quar
$23,879,400
3,000,000
Debentures, gold_..c&r_ntf / 1905
4 g M-N
8,500,000
lOld Colony Trust Co., Boston,
Debentures,gold
c&r_ntf 1907
444 A-0
4,800,000
Debentures, gold—c*&r*_ntf 1911
4M M-N
5.000,000
Debentures, gold—c*&r*_ntf 1912
5 J-D
8,286.000
Loans and bills payable Dec. 31 1918
5,143,100
Debentures
1919
6%
1,500.000
End St.
Ry., upon consolidation in 1922.
81) Somerville Horse RR. Leased
8.03 miles of track.
See text.
See text.
wns
fe&rly—6%
Registrar.
Oct
Nov
1 1937
Dec
11942
1 1941
Mar. 1 1924
It is proposed that stock shall
subject to retirement at 105 and divs. and in liquidation receive 105 and
V. 106, p. 2344.
Listed on Boston Stock Exch.
V. 107, p. 400.
Bonds.—The coupon bonds are in denominations of $500 and
$1,000
(except 1911 Issue, which are for $1,000 only), and registered bonds of all
In
In denominations of $1,000, $5,000, $10,000 and
$50,000.
Dec.
1908
the
Massachusetts
Railroad
Commission sanctioned
are
$6,650,000 additional stock (raising stock to $19,950,000) at $110 per share,
to defray the cost of the
Cambridge subway and for the construction of the
East Cambridge and West End elevated lines.
V. 87, p. 1662; V. 88, p
1372.
In Dec. 1912 increased its stock from $19,950,000 to
$23,950,000
and offered stockholders the right to subscribe for new stock
at $105 per
share.
V. 95, p. 1272; V. 96, p. 61.
Dividends.—First div., 24i%, was paid Aug. 15 1898.
In 1899, 544%;
1900. 4 44%; in 1901. 544%; in 1902 to 1913 inclusive, 6% yearly; in
was reduced and in Feb. 2% was
paid.
In July 1914 it was deIt
de¬
cided to pay dividends i
quarterly (V. 99. p. 341) and In Aug. 144% was paid;
Nov., 144 %•
In J915L
>,544%.
In 1916, 5%.
In 1917. Feb.. 1 44%: May.
44%: Aug.. 1 44%; Nov. div. passed (V. 105, p. 1897).
Under public con¬
trol an initial div. of $2 04 1-16 on pref. was paid in Jan.
1919.
In July
1919 $3 50 was paid and same amount paid
semi-annually since.
On
common an initial div. of $2 50 was
paid in Jan. 1919.
In April $1 25
was paid and same amount
paid regularly quar. since.
See under "Public
Management and Operation" above and V. 107, p.
2187, 2288,; Y. 108,
p. 1059.
In
1914 rate
REPORT.—Report
Boston Elevated Ry. for year ending Dec. 31
Fiscal year changed in 1917 by Legislature to end
of
110, p. 1521.
1919, in Y
Dec. 31.
Dec. 31*19.
Revenue miles
Years ending
•
Year end.
Dec. 31 *18.
Dec. 31 '17. June 30 16.
53,721,249
53,021,816
59,455,693
58,572,308
Revenue pass. carried_„324,758,685
348,665,700 381,017,338 363,477.041
Earnings—
$
$
$
$
Passenger
28,752,675
20,337,460
19,008,052
18,126,247
Mails, rents, adv.. &c._
651,916
639,505
725,824
560,725
run
Total
Net earnings
Misc.
29,404,591
5,704,252
19,733,876
6,186,752
93,991
20,976,965
2.980,867
85/728
84,531
94.256
5,798,243
3,066,595
6,271,283
6,701,332
interest, &c
Total
Deductions—
Int. on West End debt.-
997,955
640,115
405,388
Taxes, West End
Taxes, Boston elevatedTaxes on earnings
Rental of subway
1,011,729
546,204
371,312
In 1908 Massachusetts RR. Comm. sustained action
increasing
on several of the
subsidiary lines from 5 to 6 cents.
V. 87, p. 345.
Has acquired freight rights in several of the towns
along Its lines.
13,846
183.958
1 494,089
1,494,089
1,483,857
9,180
9,180
60,312
9,180
71,366
Int.onBos.El.fund.debt
Int. on unfunded debt--
1,309,477
246,312
356,640
107,878
100,810
71,124
229,190
1,120,787
181,369
1,087,041
Wash'ton St. tunnel rent
East Boston tunnel rent
do
do
ext.
rent
Cambr'ge Connec. rentBoylston St. subw. rentDorchester Tunnel rent-
60,495
.
473,859
Miscellaneous.-Total
60,347
deductions
Balance,
sur.
or
6,776,373
6,053.302
5,553,777
5,497,562
def.978,130def.2,986,706 sur.717,506 sr.1,203,770
-(12)1403970
*658,235(344)835,779 (5)1.193,970
def
—
Dividends
S
356,639
76,322
100,715
71,124
215,527
238,743
22,343
lus
♦2
or deficit
—df2,382,100def.3,644.941
% on common; 2.04 1-16 on preferred.
def.118,273
sur.9,800
i "R")
"R")214.138
Sidings, &c. (9.991 "R")_— 71.5640
.
Owned by West End--
Miles.
425.891
Leases,trkge..&c.(43.375"R") .109.435
(incl. 43.375 "B")-535.326
Total (incl. 43.375 "R")_.535.326
Weight of girder rails is 70 to 150 lbs.
Cars. 3,232; horses, 187; electric
motors, 7,902; snow-plows, &c., 262; snow sleds, 620; misc., 421.
In June
1918 was auth. by the Mass. P. S. Comm. to purchase 200 centre-entrance
lOO
cars
of the trailer type.
V. 106. p. 2449; V. 108.
p.
1604.
OFFICERS.—Gen. Mgr., Edw. Dana; Treas., Henry L. Wilson; Gen.
Aud., J. H. Moran.—V. 108, p. 2527; V. 109, p. 67, 72, 170, 171, 269, 370,
774, 887, 982, 1697, 1890, 2171, 2262, 2439; V. 110, p. 166, 658 ,764, 1186,
loal.
Companies
Controlled
by
Boston
Elevated
Railway
ORGANIZATION.—Leased to Boston Elevated Ry. until June 10 1922
on common and 8% on preferred in addition to the payment of
Elevated assumed possession Jan. 1
1898.
See terms In V. 65, p. 1223.
Consolidation authorized with the
Boston Elevated Ry.
See particulars under latter company.
In Dec. 1896 leased the right to use the Tremont Street subway at 4 44 %
of its net cost, stated approximately as $5,786,000 In Sept. 1898. when the
third and last section was opened.
Lease has been extended to July 1 1936.
Cost on which rental based Dec. 31 1918, $4,344,613.
Entire length is
1^-3.miles, with a trackage or about 5 miles.
;kage of
See V. 63, p. 1065, 1117;
V. 67, p. 528. See Bost. Elev. for extension of contract and new construc'n.
rentals, interest and other charges.
On'Jfp
r. 2 1917 11,694 shares additional common stock
tion in 8 lots at prices ranging from 51 44 bo 52V*.
V.
were
sold at auc-
p. 104. 1389.
Adopted.—$ee Boston Elev. Ry. above; also V. 106. p. 2451.
In July 1918 issued $1,581,000 6-year 7% bonds to refund a like amount
of bonds due Aug. 1 1918.
V. 107. p. 503.
Compare V. 106, p. 2451.
The $375,000 7% bonds due Feb. 1 1919 were retired by the issuance of a
note for one year.
The Mass. P. S. Comm. has auth. the Issuance of
$375,000 7% bonds to run not more than 30 years, to refund this note.
V. 109, p. 1893.
The company informs us, however, that this note has
State Control
one year
at 6 %.
On June 19 1919 the Mass. P. S. Comm. approved an Issue of $1,581,000
run not more than 30 years and to bear int. at not exceeding
7%
bonds to
per annum.
Proceeds were to be used to retire a like amount of 5% deben¬
tures due Aug. 1 1919. V. 108, p. 2529.
Compare V. 108, p. 2434.
No
satisfactory bids having been received for the above issue of bonds./the co.
borrowed on short time notes funds to provide for the payment of the deben¬
tures due Aug. 1 1919. V. 109, p. 889.
The 30-year bonds will be sold
at a later date, we are informed.
STOCK AND BONDS—
Date.
Com stock
($50) $14,029.850
($50) $0.400,000
5% bonds of 1914
Bonds ($1,000)
Preferred
-
($1.000)
166.
p.
The notes due Dec.
c*_ntf
1914
1917
1902
Interest.
7
8
5
5
A-O
J-J
M-S
F-A
4 F-A
Outstanding.
Maturity,
$14,029,850 Apr'20,344
6,400,000 Jan '20 4%
2,600.000 Mar
2,700,000 Feb
1 1944
1 1922
5.709,000 Aug
11932
Bonds
($700,000)—c&r.ntf 1908
4 44 J-J
700,000 Jan
11923
Bonds ($1,000)
c&r.ntf 1910
444 J-J
1,604,000 July 1 1930
Bonds
—ntf 1912
5 M-N
600,000 Nov 1 1932
Bonds
1916
5 M-N
815,000 May 1 1936
Bonds ($1,000)
c*&r_ntf 1917
7 g F-A
1,581,000 Aug 11920
Bonds.
1917
7 M-S
570,000 Sept 1 1947
Bonds ($1,000)
c*&r. 1918
7 F-A
1,581,000 Aug 1 1924
Note
1919
6%
375,000 Feb
1 1921
Bonds.—Interest on all issues is payable at American Trust Co., Boston,
Common
Date.
except on the 6-year bonds of 1918 and the 3-year bonds of 1916 and 1917,
payable at Old Colony Trust Co., Boston.
which Is
J(
V. 107, p. 503; V. 108, p.
h
.
B.
Russell;
Treas.,
Parkman
Interest.
stock.-.-
Preferred stock, $4 per sh, cum.
Coupon
notes,
$2,000,000/
Q-J
Outstanding.
Dexter.—
2434, 2529; V. 109, p. 889, 982,1701, 1893.
Maturity.
50,290 sh.
31,203 sh.
See text
1909 4 J-D
$1,100,800
Dec 1 1919
($100. $500and $1,000)—[Interest at Boston Safe Deposit & Trust Co.
85.000
Notes.—The 1909 notes are not specially secured, but are simple obliga¬
tions of the association, subject to call on any interest date on 60
days'
notice at 10214.
V 89. p. 1068.
ROAD.—Companies owned and controlled operate In the aggregate about
Demand and time loans
131 miles of track from Needhara
on
the south to Lowell on the north, and
connecting at five points with the tracks of the Boston Elevated Ry.
At
Westboro connection is made with the Worcester Consolidated.
Dividends.—First of $1 on preferred paid April 1902- also $1 July 1902
and $1 Oct. 1902.
In 1903, $4; in 1904, $2 50; in 1905. $2; in 1900, $2 75;
In 1907, $3
resumed, and
Jan., April and July 1908 div. passed.
In Oct. 1908 divs.
In 1909, 83.
In 1910 to 1913, Incl., $4.
In
1917, 50c.; April, 50c.
paid 75 cents.
In 1915, $3.
In 1916, $3.
In Jan.
Arrears of dividends, $24.33 1-3.
REPORT.—For
ending
Dec. 31:
Dividends.
Exp. & Int.
Surplus.
$86,807
$85,775
$1,032
87382
85,367
2,515
OFFICERS.—Pres., Adams D. Claflin; V.-P., S3
Harwood; Treas.,
Chas. W. Smith; Sec. John O. Carr; Asst. Treas., (
Cox.—V. 103, p.
60, 1209; V. 104, p. 2640; V. 105, p. 2542; V. 106, p. 818; V. 110, p7
years
Period—
Inc. from Sec.
Year end. Dec. 31 1919
Year end. Dec. 31 1918
(X)
Middlesex & Boston Street Ry.—Trolley.
ORGANIZATION.—Organized in 1907 and took over the South Middle¬
Street Ry., sold at receivens/_sale July 1 1907. and has since acquired
and merged the Westborough & Hopkin ton St. Ry.. the Natick & Cochltu¬
ate St. Ry. (V. 87, p. 1420). the Newton St. Ry. (into which Waltham St.
Ry. had been merged, and which had acquired_Coramonwealtb Ave. St. Ry.
& Boston St. Ryd, V. 89. p. 778, and the Newton & Boston
and Welleele;
St. Ry. (V.
1, p. 993).
On May 9 1912 Mass. RR. Commission granted
ermfesjon to absorb by consolidation the Lexington & Boston St. Ry. and
te $525,000 stock in exchange $ for $ for stock of absorbed
company;
V. 94, p. 1317.
Fares.—In Aug. 1917 the co. accepted for a trial period of 6 months a
modified fare schedule establishing 6, 7 and 8 cent fare units.
These rates
proving insufficient to meet its needs, the co. on Mar. 18 1918 filed a new
schedule with the Mass. P. S. Comm., effective July 1 1918, eliminating
6-cent fares and strip tickets of 20 for $1 20 and establishing a 1-cent charge
for transfers from a 7-cent to an 8-cent line, free transfers to bo Issued
from an 8-cent to a 7-cent line.
Compare V. 99, p. 1366.
In July 1919
sex
the
co.
filed
a
fare schedule with the P. 8. Comm. which If effective will
practically
109, p. 270.
a 10-cent fare basis.
For details of new
See also V. 109, p. 888.
On Nov. 1 1919 a
V. 109, p. 1891.
In April 1920 was authorized to issue $500,000 20-year 5% bonds to
refund a like amount of Lexington & Boston St. Ry. bonds, due April 1 1920.
V. 110, p. 1526.
see
V.
on
10-cent fare went into effect on all the company s lines.
STOCK AND BONDS—
Date.
Stock, $1.987,000
ref M,
First and
Outstanding.
Maturity,
$1,987,000
In'17144%
1,483,000 Jan
1 1932
444.g J-J
cllnt. at Boston Safe Dep; & Tr. Co.. trustee.
gold ($1,000)
$500,000,/ 1900
($1,000). callable
g
Interest.
-
$5,000,000/ 1912
Lex & Bost 1st M,
444 g A-0
500,000 April 1 1920
105--C*) Interest at Beacon Trust Co., Boston, trustee
Current IiablUtiee Dec. 31 1919
360,033
reserved for additions,
—
Bonds.—Remaining first and refunding bonds
are
extension and improvements.
Callable on any Interest date on 30 days
notice as follows: Jan. 1 1917 to July 1 1921, inclusive, at 107 J* and rat.;
;
Jan.
1
1927 to
EARNINGS.—For year ending Dec. 31 1919, gross, $1,141,905; net,
after taxes, $160,615; interest, &c., $157,962; surplus, $2,653.
ROAD.—Owns 95.904 miles of crack in Newwra,
Walcnam, Watertown, Natick, Wellesley, Framlngbam. Hopkinton
Needhara
Westboro,
Sherburn, Wayland, Belmont and Ashland, connecting with the Worcester
Consolidated Street Ry., the Boston Elevated
Ry. (at 4 points), &c.
Forms a link in a through line from Boston to Worcester.
Also owns 32.350
miles of track, leases 0.745 mile; total, 33.101 miles, extending from Arling¬
ton
Heights (terminus of Boston Elev. system) through Lexington and Bed¬
ford to Blllerica, where cars go through to Lowell without change, and also
to the Sullivan Square, CharTestown, station of the Boston Elev. Ry , with
branches to Waltham and to Concord.
Total track owned, 128.254 inllee.
264 pass, and 14 work cars; 26 snow plows.
60 to 75-lb. T. and 95-lb.
girder rails.—V. 109, p. 270, 888, 1891; V. 110, p. 1188, 1526.
EASTERN!MASSACHUSETTS STREET RAILWAY COMPANY.
"ORGANIZATION,
&c.—Incorporated early In 1919 in Mass. pursuant
"Special Act" respecting the Bay State Street Ry. [as
and has acquired substantially all the assets of that
company, including the leases of the Boston & Chelsea RR. Co., the Boston
& Revere Electric St. Ry. Co., the East Middlesex St. Ry. Co., the Winnisimmet RR. Co., which see under separate headings below.
The stocks
and bonds of these companies are to remain undisturbed.
The other issues
remaining undisturbed are the 6% equipment notes of the Bay State
Street Ry., due serially to 1927, and $64,000 first mortgage bonds of the
Peoples Street Ry. due June 1 1923.
Various underlying liens were ex¬
tended at higher interest rates and these appear below.
Sale.—On April 21 1919 the property of the Bay State Street Ry. (except
the Rhode Island and New Hampshire lines)
was sold at foreclosure
to Arthur I. Glidden, in behalf of the reorganization managers for $3,600,000
to
terms
of the
described
below]
.
^
..
gaje
1919 the
Co.
property was conveye
or
Wage Award by National War iMbor Board.—V, 109. p. 676.
Board.—V. 109, p. 676.
Trustees in Control.—On June 1 1919 the five public trustees appointed
—
by the Governor took executive control.
V. 108, p. 2122.
Since the trustees assumed control of the property about 60 miles of
V. 109, p. 1366.
See also V.
On Jan. 15 1920 the company discontinued service in Salem,
has also been abandoned between Bridgeport and New
non-paying lines have been discontinued.
—
OFFICERS.—Pres..
1 1919 had not been retired up to Mar. 29 1920.
STOCK AND BONDS—
1 1922 to July 1 1926, Inclusive, at 105 and int.
July 1 1931. Inclusive, at 10244 and int.
V. 94, p. 351.
at 7%
Bonds
Fare Increase.—See Middlesex & Boston Street
Ry. below
Suit.—In Jan. 1920 James C. Clinton of Boston brought suit for
$1,000,000 in the Superior Court of Suffolk County, against Chas. W. Smith et
al,
trustees, to recover on $623,000 10-year 4% bonds due Dec. 11919.
V. 110,
Jan.
Co.
(1) West End Street Railway.—A trolley road.
been renewed for
same,
schedule
1919 ("R" Stands for Rapid Transit Track.)
Miles.
Main 2d track (16.580
motor cars and
32,387
pref. stock outstanding and the Issue of notes in place of
holders having the option of taking cash or notes for their stock.
V. 90, p
1487.
|
shares of cum.
put the system
Road Dec. 31
Total
STOCK.—Shares have no par value, but In case cf liquidation the
pre¬
ferred shareholders will be entitled to $100 per share, With accrued
dividends.
the common shares participating
pro rata in the remaining assets. (See
V. 73, p. 1159,1263.)
In 1904 15,635 shares of preferred and 15,635 shares
of common were offered to shareholders at $66 67 for one share of
pref. and
one share of common Jointly.
Listed on Boston Stock Exch. in Abr. 1905.
On May 22 1913 the stockholders authorized the cancellation of the
None since.
12,299
176",903
West End stock
Som. Horse Ry.
Miscell. lease rentals
West End Street Ry. for $9,180
are payable M. & N. in Boston.
ton Park.
6,606,976
87,531
356,622
71,366
99,608
71,105
210,840
176,545
on
on
to
Dividends
fares
1914, $350.
867,196
536,871
343,813
158,801
184,687
1,453,160
9,180
69,825
1,064,625
65,053
355.568
68,057
28,357
71,008
207,515
Divs.
$153,000 stock.
BOSTON SUBURBAN ELECTRIC COMPANIES.—A
trolley system.
ORGANIZATION.—This company is a voluntary association formed In
1901 on the same lines as the Mass. Electric
Companies.
Con¬
trols through stock ownership the Middlesex & Boston
Street Ry. (into
which the Natick & Cochltuate St. Ry., the Westboro &
Hopkin St. Ry.,
the Newton & Bos. St. Ry., the Newton St.
Ry. and the Lex. & Boston St.
Ry. have been merged).
In 1902 purchased Norumbega Park and Lexing¬
18,686,972
928,500
554,106
326,397
Divs.
on
Nov.
divs.
issues
11
May 1 1935
Slock.—The pref. stock outstanding will be subject to the 1st and 2d
pref.
stock, to be issued in exchange for the pref. and com. stock of the West
be
RAILWAYS
109
p.
Mass.
1461.
Service
B<As°a<resuTt oVa
would be
vers
notice served by the Public Trustees, that trolley service
discontinued unless jitneys were abolished, the people of Danto discontinue the jitney service and retain the trolley line.
voted
V. 109, p. 1700.
See also V. 109, p. 1891, 2171.
In Oct. 1919 the town
of North Reading expressed its willingness to contribute to the cost of main¬
taining the line rather than have service
discontinued.
V. 109,
p.
1700.
but this ac¬
by Judge Geo. W. Kelly, of the District Court, on Dec. 3
The town of Whitman, Mass.,,barred jitneys from its streets,
tion was overruled
ELECTRIC
12
1919,
regulation adopted by the Whitman Board of
jitneys to compete against the company
sustained because it discriminated against the jitneys.
V. 110,
who held that the
Selectmen forbidding licenses to
could not be
B. 261.
The Lynn City Council in Feb. 1920
voted to revoke all jitney
on April 26 1920.
V. 110, p. 871.
Feb. 1920 was auth. by the Mass. Dept. of P. U . to purchase
and 12 snow sweepers from the proceeds of the sale of $2,000000 serial bonds.
V. 110, p. 871.
•
_r
__ox
• ,
The purchase of the $2,500,000 (see offering in V. 108, p, 973),
bonds of this company, issuable under the plan and also $1,000,000 of the
cash subscriptions offered to the stockholders was underwritten by Lee,
Higginson & Co.
censes
200
ft* In
$50,000 each Jan. 1 1920 and
The $50,000 due Jan. 1 1920 were
Commonwealth of Massachusetts.
These bonds are issued under the company's Refunding Mortgage which
will cover substantially all the properties subject to less than $10,000,000 underlying bonds and undisturbed securities.
The interest on the
Bonds.—The serial ref.
serial
Special
Act.—(1)
Provides that the company
shall be managed for
the Governor of Massachusetts
are: ;
'
Homer Loring, Chairman;
Arthur G. Wadleigh,
Fred. J. Crowley,
Isaac Sprague,
Earle P. Charlton,
„
(2) Gives to the trustees absolute power to fix rates and fares (free from
the jurisdiction of the P. 8. Commission or any other authority) so as to
produce income sufficient to pay all costs of operation (including taxes,
maintenance and depreciation) and a return on the investment sufficient
to cover ail interest requirements, the stated dividends on the preferred
stocks and 6% per annum on the common stock of the new company.
Fares increased by trustees from 7 to 10. cents on July 11919.
V. 109, p. 72.
Based upon the P. 8. Commission's appraisal of $10,282,310 as of Aug. 31
1916, plus subsequent additions, the property valuation will be about
$46,000,000, 6% on which, or $2,760,000, is approximately the permitted
_
the investment.
Pledges the credit of the State for payment of
ex¬
$4,000,000 new Serial Mtge. bonds maturing within 10 years
from date; $2,500,000 of these had to be and were sold immediately so as
to produce $2,500,000 cash, viz,, (a) $2,000,000 reserved for future additions
and improvements; (b) $500,000 as a reserve fund.
fefcAn additional $1,000,000 cash had to be realized from sale of
new
securities for rehabilitation, &e.
This made a total of $3,500,000 new cash
as a prerequisite.
In the March 29 1919 issue of this publication the reader will find history
of the Massachusetts Electric Companies and the Bay State Street Railway,
the predecessors, and the plan of reorganization in condensed form.
An
extended outline of the pian appeared in the March 8, March 15 and March
29 1919 numbers of the "Chronicle."
Modification in V. 108, p. 1390.
Upon completion of reorganization the company will be capitalized ap¬
proximately as follows:
Maturity
Outstanding.
STOCK AND BONDS—
Date,
Interest.
$7,232,750
text)
initial annual return on
principal of not
(3)
ceeding
other
Common (see
1st
par
$100-.
pref cum ($100)
_ —-
-
-
6 F-A 15
6 F-A 15
-
Sk fdstk $3,239,000 cum($100)
Prof B stock cum ($100)
-
- —-
6 F-A 1
-
5 A-O 1
Adjus stock cum ($100)
854,670
3,239,000
2,998,500
8,719,000
2,500,000
2,500,000
See text
G & D
1st mtge
ntf 1899
6%
See text
Trustee
35,000xSept 1 1928
1 1929
Mystic Valley St Ry g
6%
60,000xJan
♦Lowell Lawrence & Haverhill
1893
5 g J-D
575,000 June 1 1923
1st mtge, $1,900,000, gold, Subj. to call for the sink, fund at 105
Int. at American Trust Co., Boston, Trustee.
$1,000
c*_ntf,
1898
5 J-J
64,000 Jan
1 1928
People's St Ry, West New¬
'Interest at State Street Trust Co., Boston
bury 1st M, assumed..ntf
1894
5 g A-O
689,000 Oct
1 1924
♦Brockton (Consol) St Ry 1st
mort, $750,000, gold
ntf Int. at State Tr. Co., callable at 105 & int.
1899
6 J-J
100,000xJan
1 1929
Boston Milton &
Brockton
1st mtge, $100,000
ntf Int. at Internat. Tr. Co., Boston, Trustee.
1900
5 g J-J
325.000xJan
1 1929
N Bedford M'dleboro & Brock
1st M, $325,000 ($1,000), Int. at American Tr. Co., Boston, Trustee.
& int.
ntf
gold
Prov & Taunton St Ry
1898
6 g M-S
150,000xSept 1 1928
1st g
American Trust Co., Boston, Trustee.
($1,000),auth,$200,000. ntf
1899
6 F-A
335,000xFeb 1 1929
1st M
($1,000), g, $1,000,000-ntf I Int. at American Trust Co., Boston, Trustee.
*
These Issues have the option of extension for 5 years from date of
maturity at 6%. the Lynn & Boston 1st 5s to Dec. 1 1929, the Low. Law.
& Haverhill 1st 5s to June 1 1928 and the Brockton St. Ry. 1st 5s to Oct.
1 1929.
These bonds if extended will be red. as gold bonds on any int.
date at 103 and int. up to and incl. int. date 2 years prior to new maturity
date and thereafter at 101 and int.
So Shore & Bos St Ry
in accordance
formerly bore 5% int.,
Middleboro & Brock¬
ton St. Ry. 1st 5s which continued at the old int. rate.
These Issues with
the exception of the last mentioned are call, at 103, and during the 5 years
preceding maturity at 101 and int.
The N. B. M dleboro & Brockton 1st
x
These issues have been
extended to the dates here given
with plan.
The extended issues, which in all cases
now bear 6% with the exception of the New Bedford
5s aro callable at par.
Stock.—All classes of stock have full
no voting rights until Jan.
stock has
voting rights, except that the com.
1 1921, nor thereafter at any
time
in default. Common stock is
permitted by the Special Act as
determined by Reorganization Manager and for any further amounts
found necessary by the Reorg. Managers for other purposes.
The 1st
pref. stock and the sink. fd. stock are cum., ranking equally and pro rata
when $5 of divs. upon the Adjust. Stk.
issuable under the plan to the amount
are
in liquidation, and preferred as to dividends,
and accrued dividends in liquidation, over the Pref.
for divs. and
par
and also as to
B stock, the
Adjust, stock and the com. stock.
Issue of 1st pref. stock is not limited
and may be called all or in part (when drawn by lot.) on any div. date at
120 and divs.
Any subsequent issue of this stock shall be entitled to such
divs. as shall be fixed at time of issue thereof.
Stock of this issue in addition
to the amount shown as outstanding may bo issued (a) in exchange, $ for $,
whose holders may choose
fund stock; (b) $ for $ for Bay State claims
compensation of committees, &c.
The
sinking fund 6% stock is callable all or in part on dividend day at par and
int. in order of series, numbers 1 to 21, inclusive, by a sinking fund to which
the company is to pay each year an amount equal to the series dur Feb. 15
of such year, before declaring any dividends on or making any purchase
of any Preferred B stock, Adjustment stock of common stock.
The shares
to be redeemed shall be determined by lot in case funds are not available
for the payment of any series in its ontirety.
Of the sink. fd. stock $1,425.000, including all of the first six series and part each of series 7 to 15.
were allocated to bank loans and divided among the bank creditors in pro¬
portion to their claims.
Series 1 to 14 are for $150,000 each.
The remain¬
ing $1,814,000 of this stock being the remainder of Series 7 to 15, and all
of series 16 to 21, were allocated to the coupon notes in the order of the
maturity of the notes, beginning with $57,000 of the 7th series for the 1918
for Bay State
(c)
maturity, and increasing gradually to
21st series, for the 1932 maturity.
As a
$202,000, being the whole of the
matter of convenience these figures
prepared on the assumption that the option to tako 1st pref.
stock in lieu of sink. fd. stock was not exercised.
Pref. B. stock ranks
ahead of the Adjust, stock and the com. stock.
Divs. on this Pref. B
are payable in cash or in com. stock.
Call, all or in part (when drawn by
lot) on any div. day at 110 and int.
The rate of the dividends on this stock
have been
stock (1) shall not exceed the rate of
in such year are paid in com. stock,
unless all the divs. on the Adjust, stock in such year, if any, are paid in
com. stock, and (2) shall be less by at least 2% than the rate of the,divs.
on the com. stock which in such year are paid in com/stock, unless all the
divs. on the com. stock in such year, if any. are paid in com. stock.
The
5% Adjust, stock is preferred over the com. stock.
Call, all or in part at
par and int. on any div. date.
The rate of the divs. which in any year are
paid in com. stock shall be lass by at least 2% than the rate of the divs.
on the com. stock which in such year are paid in com. stock, unless all
d'vs. on the com. stock in such year, if any, are paid in com. stock.
Stock
of this issue, in addition to the amount shown above as outstanding, could
be issued in exchange, par for par, for claims against Massachusetts Electric
Companies participating in the plan other than claims in respect of securi¬
which in any year are paid in com.
the divs. on the Adjust, stk. which
ties
expressly provided fcr.
approximately $18,900,000
Callable at 105
are red.
and int.
The 5%
ref. mtge. bonds are red. at 110 and int. on any int. day up to and incl.
July 1 1938, at 109 and int. in 1939, at 108 in 1940. 107 in 1941, 108 in
1942. 105 in 1943. 104 in 1944, 103 in 1945, 102 in 1946, 101 in 1947.
The
6% ref. mtge. bonds are red. at 103 and int. on any int. date up to and incl.
and int. on
mtge. bonds
Sept. 15 1926 and at 100
In respect of any ref.
March 15 1927.
t
issuable under the plan other than
the
time prior
ref. mtge. serial bonds, any installment of interest payable at any
to June 30 1921 may be extended at the option of the company if there is no
available income as defined in the plan for the payment thereof.
The interest
to extended, plus 20% of its amount, shall be payable 60 days
of the first period ending June 30 or Dec. 31 in which available
as
fined in the plan shall have accrited for the payment thereof, but
no
later than Dec. 31 1925.
In the meantime the total sum so payable
after the close
income
de¬
in
event
shall
bear interest payable semi-annually at the rate of 6% p. a.
Both the said total
sum and the said interest thereon shall be payable upon presentation of the
coupon for the installment of ref. mtge. extended int.
See V. 109, p. 887.
Additional ref. mtge. bonds other than the ref. mtge. Serial bonds,
and the other bonds issuable under the plan, may be issued to an amount
not exceeding at par value 60% of the cost of future adds, and impts., but
only when the annual net earnings available for the payment of interest
on the ref. mtge. bonds are at least 1 % times the interest charges on all
ref. mtge. bonds outstanding and applied for and on all prior lien issues.
This net earnings provision may, by the firm of Lee, Higginson & Co.
or hereafter constituted,
Harris, Forbes & Co., Inc., or its suc¬
cessor, and the firm of William A. Read & Co., as now or hereafter con¬
stituted, be waived in respect of any issue made before Jan. 1 1929.
In
the discretion of the Reorg. Mgrs. the ref. mtge. may provide that it shall
not be foreclosed for a period of 10 years, and in such event a General Mtge.
shall be created subject to the ref. mtge. and covering the same properties
and securing prin. and int. of all ref. mtge. bonds other than ref. mtge.
Serial bonds, and in the discretion of the Reorg. Mgrs. the int. or prin. or
both of the ref. mtge. Serial bonds.
Interest on the rof. mtge. Serial
bonds so far as secured by this General Mtge. may be accorded priority
thereunder over any other obligation secured thereby, but subject to this
exception all obligations secured by said General Mtge. shall be equally
secured thereby.
The said General Mtge. shall be subject to foreclosure
now
as
time in case of default.
St. Ry. equip, notes were issued to provide, in part, for
payment of 200 now semi-conv. P-A-Y-E cars, costing
Notes are duo $131,000 annually Aug. 1 1918 to 1926, incl., and $129,000
Aug, 1 1927. but callable on any int. date at 100 and int. on 6 weeks'
The $131,000 which fell due on Aug. 1 1918 were purchased by the receiver,
fnterest at Old Colony Trust Co., trustee.
V. 105, p. 908. The $131,000
due Aug. 1 1919 were paid and retired.
V. 109, p. 1272.
Notes.—The 3-yr. notes will be issued by trustees (to be known as Adjust.
Trustees), viz., Francis L. Higginson, Jr., E. Elmer Foye and Walter L.
Haehnlen, or such other persons as shall be agreed upon
by the Reor¬
ganization Managers and the committee under the agreement of
1917.
These notes are not an obligation of the company but are car¬
ried by the adjustment stock.
Adjustment stock at the rate of $250
of Adjustment stock for every $100 principal amount of notes
delivered to the trustees, and will be the exclusive source of payment
of the notes.
This Adjustment stock may be purchased by holders of
"option warrants" (see below) upon payment therefor at the rate
$38 and $40 a share, respectively, during the first, second and
months following the date of the notes, with an adjustment of interest
and dividends.
Any payments by option warrant holders, whether of int.
or of prin., may be made in notes at 90% of their par value and int., during
the first 12 months following the date or the notes, at 95% during the next
12 months, and at 100% during the next 12 months in each case minus
$1,631,000.
the
notice.
Nov. 30
will be
of $36,
third 12
any
distributions previously made on such notes.
All payments received
Option Warrant holders may be heid by the trustees pending the
from
maturity of the notes, or,
in their discretion, distributed pro
rata on all
outstanding.
At the maturity of the notes all funds in the hands of
and all Adjust, stock unsold shall be divided pro rata among
the holders of the notes, and the notes shall be surrendered and canceled.
The trustees may sell Adjust, stock at such price as they shall think proper
to facilitate this distribution and for the payment of their expenses and
compensation-.
Upon all purchases of Adjust, stock by Option Warrant
holders, and in all distributions of Adjust, stock, the trustees unless and
until 75% of the Adjust, stock originally held by the trustees shall have been
purchased by Option Warrant holders, may in their discretion deliver in
lien of stock certificates, voting trust certificates, enabling the trustees
under to retain the voting power for such period.
notes
the trustees
Option Warrants.—Are treated as par value of the Adjust, stock securing
notes (see above) which stock they are given the right to
They are to be available for Issuance under the plan as follows;
For sale to holders of Massachusetts Electric Companies pref.
shares and common shares
$7,476,035
For other purposes of the plan
;
398,965
EARNINGS.—For 6 mos. ending Dec. 31 1919, total revenue, $7,953,779; net after taxes, $773,918; int., rents, &c., $826,467: baL, def., $52,550;
net income required to meet cost of service, $794,240; failed to earn cost
of service by $846,789.
ROAD, &e.—The old Bay State St. Ry. owned 875.37 miles and leased
72.35 miles, a total of 947.72 m. of main line; also owned and operated
2,130 passenger and 264 express cars.
Power capacity 49 engines, 43,775
h.p., and 52 generators, 29.755 k.w.; 11 turbines, 22,500 h.p. & 15.100 k.w.
OFFICERS.—V.-P. & Gen. Mgr., R, B. Stearns; Asst. Gen. Mgr.,
Howard F. Fritch: Compt., Caleb S. Jackson; Asst. Treas., H. S. Nowell;
Atty., Philip G. Carleton.—V. 109, p. 887, 1272, 1366, 1461, 1700, 1891.
2171; V. 110, p. 261, 871,1415.
(a) Boston & Chelsea RR-—Owns 4.37 miles of main track.
Leased
to Lynn & Boston Street Ry. Co. (subsequently the Bay State St. Ry. and
now the Eastern Mass. St. Ry.) at $7,260 per annum, equal to 6% on $121
000 stock, payable A. & O.
the 3-yr. 6%
buy.
(b) Boston & Revere Electric Street Ry.
ORGANIZATION.—Tncorp. June 24 1889.
Owns 3.78
Leased from July 1 1895 for 99 years lo Lynn &
Ry. bank loans and coupon notes
1st pref. in preference to sink,
otherwise provided for;
not
ahead of the interest on
Refunding Mtge. bonds issued under the same mortgage.
any int. date on 60 days' notice.
The \ A% ref. mtge. bonds
at 105 and int. on any int. day up to and incl. July 1 1943, at 104
in 1944, at 103 and int. in 1945. at 102 in 1946, at 101 in 1947.
on
The Bay State
Trustee.
H
Serial 6s is a charge
at any
6% Serial Ref M bonds $5,-/_1919
6%
000,000 ($1,000)
c*(Old Colony Trust Co.. Boston,
14,956,000 Jan
1 1918
4 Vi J-J
1919
4lA% Ref M bonds
2.870,409 Jan
1 1918
5 J-J 1
5% Ref M bonds.
1919
971,42SSept 15 1927
6 M-S
6% Ref M bonds..
1918
806,000 Apr 1 1925
6 A-O
6% Ref M bonds...
1919
650,000 May 1 1925
6 M-N
6% Ref M bonds
1919
See text below
Option Warrants.
...
6 %
3,150,000
1922
3-year notes
See text
6 g F-A
1,046,000
See text
Bay State St Ry equip notes., 1917
5 g J-D
3,723,000 Dec^ 1 1924
♦Lynn & Boston 1st mtge, g,l 1894
,
$5,379,000 ($1,000) c*.ntf (Int. at Old Colony Tr. Co., Boston,
.
mtge. 6s mature
1921 and $300,000 1922-1929, inclusive.
retired through funds advanced by the
one-man cars
10 years by 5 trustees to be appointed by
The trustees appointed for the first 5 years
(Vol. 110.
RAILWAYS
track.
miles of main
Boston (subse¬
quently the Bay State Street Ry. and now the Eastern Mass. St. Ry.).
which guarantees interest on the $50,000 mtge. of 1908 and dividends on
$50,000 stock from July 1 1898 at 5% per annum.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
5 J-J
Stock (par $100)—
Boston & Revere Klec St
$50,000
Maturity,
See text
Ry) 1908
5 g M-S
50,000 Sept 1 1928
$50,000 gold ($1.000) —c*lint, at American Trust Co., Boston, Trustee.
Bonds.-—'No sinWug fund, but bonds may be called on any interest date
weeks' notice.
six
in
fc)
East
Middlesex Street Ry.
,oooHPAtN'TZAJU>N/"~9w,2s 19.35 miles of main track.Ry. and now the
Leased May 1
1893 to Lynn & Boston (subsequently the Bay State St.
rental till Mav 1 1896 of $18,000
addition to fixed charges; then till May 1 1901 $24,000 yearly
Eight per cent divs. had been
Eastern Mass. St. Ry.) for 99 years at a
yearly
in
and for remainder of lease $30,000 yearly.
paid, but on May
1
1901 were increased to 10%.
STOCK AND BONDS—
Date.
Stock (SI00),53 )0.000
Interest at Old
(en^ "JJ?02
Colony Trust Co.,
Interest
10
* J"J
Boston.
Outstanding.
Maturity.
$297,700
See text
100,000 Jan
1 1922
stamp1
both issues of the bonds with a
guaranty of the interest—principal is not guaranteed.—V. 67, p. 482.
The lessee in the lease agreed
fd>
▼
Winnlslmmet (Street)
to
RR
ORGANIZATION.—Owns 2.08 miles of main track.
Leased to the
Lynn & Boston (subsequently the Bay State St. Ry.. now the Eastern
?
is
$o0,000;
999 years from 1880 at $3,000 per annum.
par $50.
Mass.
Capital stock
NEWPORT & FALL RIVER STREET RY.—
,n™RGANu5AJIO^L^9rga0,zed b* special Act on Feb. 23 1898. July 1
1900 consolidated with Newport St. Ry.
Has also consolidated with New¬
port Illuminating Co.
Embraces 21.74 m. of main track In and between
Newport and Fall River: also electric lighting.
Was leased or» Ju'v 1 1901
99 years to the Old Colony St. Ry.
since merged in the Boston &
for
EL ECTRIC
APE., 1920.]
Northern, subsequently known as the Bay State
St. By.) for a rental of
6% per annum and int. on bonds.
In Sept. 1919 we were informed that
the receiver for the former Bay State St. Ry. was operating this line, the
trustees of the Eastern Mass. St.
By. Co. having elected not to adopt this
lease.
The Mass. Elec. Companies disposed of its holdings in Feb. 1902.
In April 1920 application was made to the Rhode Island Assembly for
authority to incorporate the Newport County Electric Co. for the purpose
of acquiring by purchase or lease the properties of the Newport & Fall
River Street Ry.
In Oct. J915 issued $50,000 additional stock and $123,000 bonds in ac¬
cordance with lease to Bay State St. Ry.
1st mtge. 5% bonds which matured on Aug. 1 1918
purchased for the account of the receiver of Bay State Street Ry.
The co's $240,000
were
Interest. Outstanding.
Maturity.
J-J
$1,050,000
See text
4M J-J
090,000 July 1 1954
gold ($1.000)
c*&rtf/Int. at Am. Trust Co., Boston, Trustee.
Newport Illuminating Co 2d)
—
6g
63,500 Oct 1 1925
mortgage, gold
tf/Central Trust Co., New York, Trustee.
Bonds.—Remaining consol. mtge. bonds are raserved to retire prior liens
Not redeemable.
V. 79. p. 213, 501, 1462; V. 110, p. 1526.
STOCK, BONDS, ETC.—
Stock, par $100
Consol mortgage,
Date.
$1,000,000.) 1904
13
RAILWAYS
BRATTLEBORO,
ORGANIZATION.—Incorporated In Connecticut on Aug. 26 1909 and
acquired the Brattleboro Street Ry., the Brattleboro Gas Light Co., the
Dover Gas Light Co.(V. 83, p. 562), the BeUhingtou Electric Co. and the
Hoosick Falls Illuminating Co.
In Oct. 1913 acquired the St. Johnsbury
Electric Co. and in April 1914 the Cascade Lt. & Power Co. and the Berlin
Elec. Co.
Furnishes gas, electric light and power to Dover, N. H., and
Bennington and Brattleboro, Vt.; also electric light and power to Rochester,
Salmon Falls, Rollinsford, Somersworth, Berlin, Milan, Gorham and Hins¬
dale, N. H.; St. Johnsbury, St. Johnsbury Center, Passumpsic, Danville,
West Danville, North Bennington, Bennington Centre, Wast Brattleboro
and Newfane, Vt.; Berwick, North Berwick, South Berwick and Lebanon,
Me., and Hoosick Falls, N. Y., and operates the Brattleboro St. Ry.
Pres., Samuel Insull, In a letter dated Mar. 25 1916, said, "all the principal
franchises were granted by the State Legislature and have been construed by
counsel
Control Is held by the National Light, Heat &
acquired by the Middle West Utili¬
perpetual."
as
Power Co., control of which was in turn
ties Co. in Oct. 1912.
V 95. t>. 1750.
In Jan.
impts V.
1920 issued $250,000 7%
110,
under a
dated Dec. 29 1902.
Its property consists of the en¬
$60,000 preferred stock, $181,200 First Mortgage
bonds and $270,000 "notes payable" of the Boston & Worcester Street
Ry.
It has issued 33,936 4% cumulative pref. shares and 34,614 common
shares, no par value, and $190,000 "notes payable." In case of liquidation
ref. shares receive $100 each before the participation of common.
In
an. 1905 was listed on Boston Stock Exchange.
Stock was increased to
present amount by the issue in July 1906 of 6,000 shares common and 6,000
pref., which was offered to shareholders at $105 for a block of one pre¬
ferred plus one common share.
trust
tire
agreement
stock.
common
I
_
f* REPORT.—For years ending June 30 (1917-18 report in V. 107, p. 1666):
Divs. on
Other
Total
Preferred Expenses
Surplus
Fiscal
Dividends.
pc Taxes, or Deficit.
Year—B.&W.Slk.
Income.
Income,
$33,936
$6,349
sur.$4,072
1917-18-S25.313
$19,044
$44,357
67,872
2,808
def. 3,149
1916-17
50,625
16,906
67,531
84,840
1,773
sur
4,960
1915-16.- 75,937
15,636
91,573
Latest
1919
—
Figures—For Cal. Year—
None
$24,067
$24,067
sur.11,729
$12,337
None
—
DIVIDENDS.—-First div. on pref. stock, $2, paid July 1 1904; 1905 to
1908. inel., $4; in 1909, $2; in 1910. Jan., SI; 1911, none; 1912. to 1915,
incl., $2.
In 1916, $2 50.
In 1917. $2.
In 1918, Jan., $1.
None since.
V.-P..A.E. Childs; Sec.,J.F
OFFICERS.—Pres., William M. Butler;
Bacon; Treas., A. E. Stone— (V. 105, p. 1305,
1308; V. 107, p. 1579,1666.)
Boston & Worcester Street Ry.—Trolley.
ORGANIZATION.—Incorporated In Massachusetts on Nov. 15 1901.
perpetual.
Owns the Framingham Union Street Ry., Fram-
Franchise
ingham South borough & Marlborough Street Ry. and the Marlborough
& Framingham St. Ry.
In March 1907 Mass. RR. Commission granted
right to do an express and freight business over entire line.
On Feb. 21 1911 Mass. RR. Comm. auth. an issue of $397,200 6% cum.
stockholders Feb. 2 1911), of which $297,000
(V. 90, p 625) and
($100) pref. stock (auth. by
used to retire like amount of common issued in 1910
was
remainder to fund floating debt.
In
Nov.
1912
made a contract
V. 92, p. 394. 525, 659. 724
with the Boston Elevated
operation of express cars over that company's tracks to the
Harrison Ave.
Rates.—In 1909 single-fare unit
terminal
Ry. for the
freight express
on
raised from 5c. to 6c.
On Oct. 1 1917
adopted, with the approval of the Mass. P. S. Comm., a schedule based
on a rate of 2 cents a mile with a minimum of 6 cents for a single fare.
V.
1308.
In July 1918 fares were increased to 2He. per mile; mini¬
charge of 6 c. unchanged.
Freight rates were also advanced 25%.
1919 rates were increased to 3 cents per mile with a 7-cent
105, p.
mum
On March 2
minimum charge.
On Nov. 24
stock at
debt incurred for
1916 there were issued 600 additional shares pref..
$100 and $60,000 1st 4Ms at par for paying off floating
Improvements and for equipment.
In May 1917 the P. S. Comm. auth. the Issue of $270,000 additional pref.
up
stock and $40,000 additional 1st M. bonds (not issued up to April 1 1920).
682.
Wage Award by National War Labor Board.—V. 108
^ AP1
Outstanding.
Interest.
Date.
STOCK AND BONDS—
Maturity.
com ($100)
$2,025,000 Dec' 17, 1H
Pref. $457,200 ($100) 6% cum
M-S
457,200 Sept'18, 3%
Bost & Wor 1st mortgage, $2,-) 1903
4H g F-A
2,460,000 Aug 11923
500,000, gold ($1,000)0* tf /interest at American Trust Co., Bos., Trus.
Fram So & Marl 1st mtg .tf/
7% •
60.000 Jan
11922
1 Interest at American Trust Co., Bos., Trus.
Stock,
— —
secured notes to pay for addn's and
659.
p.
STOCK AND BONDS—
BOSTON & WORCESTER ELECTRIC COMPANIES.
ORGANIZATION.—This Is a voluntary association organized
VT.
TWIN STATE OAS & ELECTRIC CO.
Interest.
Date.
Maturity.
Outstanding.
$1,250,000
Common, $2,500,000, ($100).
1.500.000 June'181 H
5 Q-M
Pref(5%cum)$2,500,000 ($100)
7 Q-J
Prior lien (7% cum) $1,000,000
112,900
Oct" I"l 953
5 g A-0
2,320.600
1st & ref M $10,000,000 gold!
1913
($1,000, $500 & $100)c*cpt (Guaranty Trust Co., N. Y., Trustee.
1st ref M, $1,500,000 g ($500) 1906
4K A-O
794,000 Oct 1 1926
& $1.000)-._c*tf/int. at Columbia Trust Co., N Y., Trustee
General mortgage $2,500,000
6%
198,400
May 1 1953
Debentures.
6%
150,000
Coll tr. notes $500,000 ($100,/
1918
7 g J-D 1
467,200 June 1 1921
$500 & $1,000) g. c*
tf\Int. at Met. Trust Co., N. Y., Trustee.
Secured notes $250,000 ($100./
1919
7 g J-D 1
250,000 Dec. 1 1922
$500 & $1,000) g. c*
tf\Int. at Met. Trust Co., N. Y., Trustee.
Dover Gas Light con mort-) 1905
5
105,000 Sept 1 1925
gage, $500,000
tf/Union Safe Dep & Trust Co., Trustee.
Brattleboro Gas L Co mtg.ntf 1903
5
86,000 Feb 2 1923
...
-
Hoosick Falls lllumlnat'g Col
71,000
1936
tf [Columbia TrustCo., N. Y„
Trustee.
Co\
65.000
1930
$75.000
tf/Old Colony Trust Co., Boston, Trustee.
Bennington Water Power &\
„•
64,000
1923
& Light Co $100,000
ntf (American Loan & Trust Co., Trustee.
>
Bennington Water Power &f
12,500
1929
$150.000
Hoosick
Electric
Falls
„
ntf/Old Colony Trust Co., Boston, Trustee.
Light Co $30,000
Bennington Elect Co
1935
80,500
$175,-1
tf [Columbia
Trust Co., N. Y., TrusteeCo 1st M__tf 1909
5 M-S
80,000 Mar 1 1929
Cascade Light & Power Co
1905
40,000 April 1 1925
Cascade
Electric
Light
&\ 1921
13,500 Apr 1 1921
Power Co
[Union Safe Deposit & Trust Co.. Trustee.
Slock.—The prior lien 7% stock is red. all or in part on July 1 1920 at
105, 1921 at 104, 1922 at 103 and 1923 or thereafter at 101H and divs.
Has equal voting power with both pref. and com. stock if any div. remains
unpaid for one year.
Is prior in lien both as to assets and earnings to the
% pref. stock and the com. stock.
V. 109, p. 79.
Bunds.—$1,158,000 1st <5c ref. 6s are reserved to retire underlying bonds.
Additional bonds may be Issued for lmpts. and acquisitions at 80% of cost,
provided net earns, are at least 1H times the Int. charges on all bonds out¬
standing, incl. those to be certified.
1st & ref. 5s are red. on or after Oct. 1
1923 at 105 and int.
A depreciation reserve fund of 5% of gross earna.
000
-
St Johnsbury El
began Dec. 31 1918. V. 102, p. 1988.
Notes.—The notes of 1918 are a direct obligation of the co. and are
secured by pledge of 1st & Ref. Mtge. 5s and gen. mtge. 6s in the ratio of
133 1-3%.
Red., all or in part, at 100 and int. at any time on 30 daysnotice.
The notes of 1919 are secured by a pledge of 1st & Ref, M. 5s in
120%.
Red. all or in part at 100 and int. any time upon 30
days' notice V. 110, p. 659.
Dividends.—5% yearly has been paid regularly on pref. stock since 1907
the ratio of
EARNINGS.—For cal. year 1917 and years
ending June 30:
Gross.
(Net (after Tax.)
Bond Int.
Surplus.
-$714,745
$266,606
$152,986
$113,620
1916-17
672,951
288,733
138,174
150,559
1915-16
570.123
270,801
139,942
130,859
ROAD, &c.—Operates 5 miles of track in Brattleboro.
Owns hydro¬
electric plants at Gorham, Brattleboro, Bennington, St. Johnsbury and
Hoosick Falls and a steam turbine plant at Dover.
OFFICERS —Pres., Samuel Insull; V.-Pr.. H. L. Olds; Sec., H. H. Becbtel: Treas., C. A. Forrest.
Gen. offices, Brattleboro, Vt.—V. 102, p.
1988; V. 106, p. 608, 716, 1037, 1127; V. 109, p. 79; V. 110, p. 79, 659.
Years—
1917--.
,
-
payable Jan. 1 1920
*395,000
Of which $270,000 is held by B. & W. Electric Companies.
Bonds.—The Fram. So. & Marl. 1st mtge. 7s were originally 5s and ma¬
tured on Jan. 1 1919, but were extended for 3 years at 7%.
*
Dividends.—On pref. 3% semi-ann. from
None since.
On com. paid
1918.
date of issue to and incl. Sept.
3^0 July 1904; also 3% semi-ann. until
1909, June, 1H%; in JUVAVf v M•
1910, Jan.,
A il
X iJ'J *J
X
/{) t
1908, when 1H% was J7U1VI*
paid.
1H%; In 1911, Dec7, 1%; in 1912, June, 1H%; Dec., 1 \%.
In 1913,
^72 /0*
All XVlUt 2H%.
2H%.
In Ai7X*±, O 70• _I_n 1915, 4 72
1914, 3%.
In 1916. 3H%.
In 1917, June.
1H%; Dec., 1H%.
None since.
Dec.
T? WO
\
%
REPORT.—For years ending June 30:
Fiscal
Total
Net
Int.&
Pref.Divs.
Years—Revenue.
Revenue.
Taxes.
(6%).
1917-18.$860,277
$216,302
$178,643
1916-17. 806,180
264,274
170,552
1915-16. 801.2.54
312,921
170,946
Latest Earnings—For cal. year:
1919
$948,936
$204,094
$186,606
private right of
extension to Natick.
V.
p.
26.832
23,832
,
105, p. 290. 1305,
478. 682.
CO.
ORGANIZATION.—Incorp. Sept. 21 1893 In Codu.
Franchises per¬
petual. Road first opened Aug. 12 1895; merged with Bristol Elec. Lt. Co.
Mt
Jar. 31 1897; steam heating plant Installed In 1902; Terryviile branch
jas plant installed
opened in 1903, Woodland St. branch opened in 1906; gas plant Installed
in 1906; underground system installed in 1916.
In addition to railway
service, furnishes electric light and power in Bristol, Forostvilie and Terry¬
viile; gas in Bristol, Forestville and Plainville, and steam heat in Bristol.
In August 1908 a stock dividend of 50% was declared, increasing out¬
THE BRISTOL & PLAINVILLE TRAMWAY
standing amount to $375,000.
V. 87, p. 96. 414.
In Oct. 1914 stock was increased from $375,000 to $562,500, new stock
being Issued May 1 1915.
In Oct. 1916 stock was further increased to
$618,800, and stockholders were offered the right to subscribe for new
stock pro rata at par.
V. 103, p. 1687.
Fares.—In
Jan.
its lines V.
on
1920
None
1st
Authorized. Par. Div. Period. Outstand'g.
$3,000,000 $100
$2,500,000
STOCK—
($500&$1,000)
Subject to call at par
Dividends.—In
and incl.
Last Div.
Stock.—Preferred
Webster Properties) Dec. 31 1919.
bS233,800
El—*$634,850 Tampa Electric Co
*500,000
Cape Breton Elec. Co_
*500,000 Galv. Houston Elec. Co
*500,000
Jacksonville Traction Co— *350,000 Northern Texas EI. Co
Pug. Sd. Tr.. L. & Pow.Co*l,466,800
Houghton County El. L. Go.*500,000
a287,800
Houghton County Trae. Co.*lOO,000 Key West Electric Co
*374,100
Columbus Elec. Co
—all5,000 Key West Electric Co
El Paso Elec. Co_
—*525,000
Securities Owned (Stone c%
Blackstone Vai. G. &
Preferred stock,
b Capital stock.
See statements of these companies (except the Blackstone Valley Gas
Elec. Co. and the Houghton Co. Elec. Light Co.) on subsequent pages.
*
&
Common stock,
Date.
1899
1919 8% per
gold/ 1905
cal.
years.
Railway
Misccl.
Interest
Net.
& Taxes.
Dividends. Surplus
$187,723
$35,817
$89,094
$58,611
$51,696
$14,604
1918
151,748
43,186
90,315
64,744
49,502
19,252
1917
148,512
50,170
85,640
54,489
49,502
35,234
ROAD, &c.—Operates 13.74 miles of track laid with 66,60 and 72-lb.
T-rail connecting Bristol with Forestville, Plainville, Lake Compounce and
Terryviile.
Standard gauge, 34 cars, 3 snow plows and 1 work car.
OFFICERS.—Chairman of board, Chas. H. Tenney; Pres., A. B. TenYear—
See text.
3,000.000
100 Quar.-Feb.
2,500,000 Feb'20, 1H
stock is redeemable at option of company at 115.
Pref. 6% cum
discontinued all commutation books
Interest.
Outstanding.
Maturity
Q-F
$825,000 Feb'20, 2H
4H g M-N
540,000 Nov 1 1946
ntf/Interest at Bristol National Bank, Bristol*
I Treasurer of State of Connecticut, Trustee.
to 1909, incl., 6% ner annum; 1910, 7%; 1911 to
annum.
In 1920, Feb., 2H%
mortgage $600,000,
Railway
INVESTMENT CO.
ORGANIZATION, &c.—Organized In Maine in 1909 to hold and to deal
In stocks, bonds, notes and other securities.
On Oct. 30 1913 stock was
increased from $2,000,000 each of pref. and common to $3,000,000 each.
V. 97, p. 1289.
Common
company
Stock, $1,000,000 ($100)
EARNINGS—For
PUBLIC SERVICE
the
110, p. 359.
STOCK AND BONDS—
None
$17,488
operates 83.619 miles of track, a considerable portion
way, between Boston and Worcester, including an
Rails, 75-lb.
lias 91 cars.—V. 104, p. 1700. 1800
1308; V. 106, p. 85. 2755: V. 107, p. 290; V. 108,
ROAD.—Owns and
over
$27,432
„
Common
Balance,
Dividends.
Surplus.
(1 H)$25,312df$15,085
(2H) 50,625
16,265
(3H) 75,938
42,205
CONN.
BRISTOL,
Notes
Gross.
Net.
1919
V.-P., D. E. Manson; Sec.-Treas., Morris L. Tiffany, Bristol, Conn.,
Asst. Treas., E. A. Bradley.
General Managers, Chas. H. Tenney & Co.;
Boston, Mass.—V. 98, p. 154, 1535 V. 103, p. 1687; V. 110, p. 359.
ney;
BRISTOL,
BRISTOL TRACTION CO.
i
TENN.
t»
In Aug. 1919, B. L. Dulaney, former President of the road,
that all the rails of tho co. had been taken up and disposed of
liquidated. For history see "Electric
Informed us
and the
co.
Railway Supplement" March 29 1919.
a
'
-
-
-
•
BROOKLYN, N.
-
Feb,
Y.
BROOKLYN RAPID TRANSIT.
'
Receivership.—On Dec. 31 1918 Federal Judge Julius M. Mayer in the
,
3%
None
,
„
>r
„
,
since.
INCOME.—Years ending Dec. 31:
Total
Expenses
Pref. Divs.
Surplus or
Income
<fc Taxes.
,
(6%)
Deficit.
$216,579
$8,859
$150,000
sur.$57,719
1918
198,029
10,077
150,000
sur. 37,952
1917
184,145
9,096
150,000
sur. 25,019
DIRECTORS.—Henry G. Bradlee, Bussed Robb, Chas. A. Stone,
Edwin S. Webster, Eliot Wadsworth (Pres.), John W. Hallowell, Dwight
prRobinson.—V. 95. p. Ill; V. 97. p. 1119, 1289. 1734; V. 101. p. 292.
Calendar
Y
ri-
19)9
-
-
-
-
Consol. RR. Corp., subsidiaries of the co.—see below—upon application
the Westinghouse Elec. & Mfg. Co., holders of claims aggregating
$16,462 for materials and supplies furnished the company.
The receiver¬
ship became necessary because of the company's inability to meet interest
due Jan. 1 1919 on $57,735,000 of 7% ana 5% notes and also obtain fresh
of
capital for necessary new construction and improvements.
V. 108, p. 76.
On Jan. 6 1919 Judge Edwin Louis Garvin in the U. S. District Court,
denied the application of a stockholder to have an ancillary receiver ap-
I
14
ELECTRIC
pointed.
RAILWAYS
V. 108, p. 170.
On Jan. 151919 Judge Julius M. Mayer in the
U.S. District Court denied the application of the oity for the
appointment
of a co-receiver.
V. 108, p. 267.
On July 14 1919 the receivership was
extended to the Brooklyn Heights RR.,
Brooklyn, Queens County & Su¬
burban RR., Nassau Electric RR. and Coney Island A
Rklyn RR., which
companies embrace the surface lines in Brooklyn,
thus bringing the
whole system under the jurisdiction of Receiver Garrison.
On Aug. 26
1919 the receivership of the surface lines was made permanent.
The
extension of the receivership was made on the
petition of the Central Union
Trust Co., N. Y., in its suit brought to foreclose the B. It. T.
1st & Ref.
M. 4s of 1902, the Jan. A July 1 1919 interest on whichihas been
defaulted.
For further particulars see V. 109, p. 269.
1
Receiver's Certificates.—On Jan. 22 1919
United States District Court for authority
of the
to be
receivership estate the requisite
the
receiver
"to
borrow
amount of money
applied
upon
the
Committee for Brooklyn Queens County & Sub. lsf Cons.
5s.—Haley Fiske,
Elon R. Brown, Chauncey M.
Depew, William K. Dick, Willis McDonald;
Secy., Austin Penchoen, 177 Montague St., Brooklyn, N. Y.
Depositary:
Brooklyn Trust Co., N. Y. City and Brooklyn, N. Y.
V. 109, p. 1986.
Surface Lines Returned. &c.—The rental due by the Brooklyn
Heights
R. Co. to the
Brooklyn City R. R. Co. on Oct. 1 1919 was not paid
as a result the 26
surface lines owned by the latter and leased to the
former were turned back to the
Brooklyn City R. R. for separate operation
at midnight, Oct.
18 1919.
H. Ilobart Porter was elected Gen.
Mgr.
and George W.
Jones, Auditor, of the Brooklyn City R. R.
V. 109, p.
1527, 1600, 1792.
The Brooklyn City R. R. has no power houses of its
own but has a contract with
Receiver Garrison by which it is supplied with
R.
and
power.
to the
credit
The Brooklyn
1$ 16.859,357—Ed.}
Co., amounting to $46,034.
terms of the lease should have
paid this tax as part of the agreed rentals.
The Brooklyn City RR. paid this installment in
order to avoid the penalties
prescribed by law.
V. 109, p. 1272.
Owing to the non-payment of rental
due Oct. 1 1919 by the
Brooklyn Heights RR. Co. the div. due at that time
377—E<
procure
known
as
R. T. issue of receiver's certifs.
The B. it. T
and are red. at par and int. on
Series A
after Feb.
series
1
notice.
The total
having the same security is $20,000,000.
further issues of B.
certifs.
are
to be
int. date on and
auth. amount of this
any
1920 upon 30 days'
Beyond this
amount
R. T.
any
receiver's certifs. must either be
subordinate in
or must be secured on different
property.
The B. R.T. receiver's certifs. are superior in lien to
(a) B. R. T. mtge.of
Oct. 1 1895 as to any property in receiver's hands; and to
lien
to
the
$20,000,000 issue
(5)
B.
R.
July 24 1918.
The certificates of the Municipal and Consolidated
Cos. are superior in
lien to (a) the $57,735,000
Municipal Ry. Corp. 1st 5s (pledged under
B. It. T. notes); (5) the mortgage given by the N. Y.
Coasol. RR. Co. to
secure its guaranty of said bonds; (c)
$14,344,975 N. Y. Consol. RIt. Cert,
of indebtedness No. 1, but is inferior in lien to the First
Mtges. of Kings
County Elevated Iilt. of 1899 and Brooklyn Union Elevated RIt. of 1899.
The proceeds of the B. R. T. certifs. will be used
(1) to enable the receiver
of N. Y. Municipal Jty. Corp. to carry out the
obligations under the subway
contracts with the City of New York, to which
purpose the proceeds of not
less than $13,000,000 and not more than
$15,000,000 of certifs. will be
allocated, and (2) to enable the receiver of B. R. T. to complete the
power
impts. to be used in connection with the operation of the
rapid transit lines.
The proceeds of the certifs. allocated to the
purposes of N
Y. Municipal Ry. Corp. will be invested in the joint certifs.
house and other
new
of the receiver of that co. and of N. Y. Consol. RR.
Co., which in turn
will be pledged to secure the certifs. of the receiver of B.
It. T.
For the
security behind these receiver's certifs. we refer the reader to V.
109, p
675, 774, where a description of these certifs. in detail will also be found.
Power Bills of Nassau Elec.'RIt. First Lien
against That
p.
1179.
See also V. 109, p.
Property.—V. 109,
1272.
Preliminary Report of Receiver Presented Jan. 15'19.—See V
108,p 263,373
Digest of Reports to Court by Stone & Webster.—V. 109, p. 2071.
Compare
preliminary report in V. 109, p. 1079.
As
result of the appointment of a receiver ana the default in
the pay¬
ment of interest due Jan. 1 1919 on the
$57,230,000 B. R. T. 3-year 7%
secured notes due July 1921 and on the $505,000 B. R, T.
6-year 5% se¬
cured notes due July 1 1918 and the default in the
payment of interest and
a
sinking fund on the $2,265,000 N. Y. Municipal Ry. Corp. 1st mtge.
5%
sinking fund bonds, Series A. due Jan. 1 1966, the following committee
was formed to protect the holders of the aforesaid
issues: Kuhn, Loeb &
Co. and Kidder, Peabody & Co.; Sec., Chas. E.
Sigler, 54 Wall St., N. Y.
City.
Depositary: Central Union Trust Co., 54 Wall St., N. Y.
City.
V. 108, p. 76.
The Central Union Trust Co. was originally a member of
this committee but resigned because of possible conflict with
its duties as
Trustee of the 1st & ref. mtge. of the B. R. T.
V. 109, p. 2073.
In Nov.
1919 about $30,000,000 of the 3-yr. notes had been
deposited with the com¬
mittee which, together with the $16,544,700 of that issue held
by the War
Finance Corp., which has been co-operating with the
committee constitute
over 80%
of the entire amount outstanding.
A majority of the N. Y.
Municipal ref. 1st mtge. bonds had also been deposited with the committee
up to Nov. 1919.
For statement by committee see V. 109, p. 2073.
Stockholders'
Committee.—Albert H. Wiggin,
Chairman; Charles A.
Boody, Frederick II. Ecker, Seward Prosser, Galen L. Stone, Frederick
Strauss, E. B. Sweezy and Chellis A. Austin, Sec., 115
Broadway, N. Y.
City. , Depositaries: Mercantile Trust A Deposit Co., N. Y.
City, and
Peoples Trust Co., Brooklyn, N. Y.
V. 108, p. 76.
Deposits have been
called for.
Y. 108, p. 377. 1164.
Tort Creditor's Committee.—Chairman, Samuel
Seabury; John V. Bouvier,
V. 108, p. 2240.
Default—Committees, &c.—Default having occurred in the payment of
the int. due April 1 1919 on the co's. 50-yr.
5% bonds dated Oct. 1 1895
the following protective committee was formed:
Committee for B. R. T. 50-yr. 5s.—Chairman, Alvin W.
Krech; Julian D.
Fairchild, Ogden Mills; Sec., Henry P; Nash, 37 Wall
St., N. Y.. City;
Depositaries: Equitable Trust Co., N. Y., and Kings County Trust
Co.,
Bklyn., N. Y.
Deposits have been called for.
V. 109, p. 72, 1366.
The July 1 1919 int. on the following issues
having been defaulted the
committee named below was formed to protect the interests of
the holders:
Coney Island A Bklyn. RR. 1st Cons. M. 50-yr. 4s of 1898
$1,987,000
Consol. Mtge. 4% 50-yr. gold bonds, dated Dec. 15 1904
2,125,000
Bklyn. City & Newtown RR. Co. Consol. 1st M. 5s of 1899
1,933,000
Committee.—A. E. Ilorr, David II. Lanman, J, H.
Walbridge; Sec.,
G. H. Thirkield.
Depositary: Brooklyn Trust Co.
Deposits have neen
Jr., Robert H. Ernest and Chas. Steckier.
called for
V.
109,
p.
1461.
ing bonds, however, is being paid.
V. 110,
359.
p.
Foreclosure Proceedings.—Proceedings have been instituted to
foreclose
the B. R. T. consol A Ref.
Mtge. and also the mortgage securing the
$60,000,000 bonds of the N. Y. Municipal Ry. Corp., all the
$29,000,000
of, the former and $57,735,000 of the latter
being deposited as collateral for
the B. R. T. secured notes.
V. 108. p. 877.
On July 30 1919 the Equit¬
able Trust Co. instituted foreclosure
proceedings in the N. Y. Federal Court
because of the co's. failure to
pay the int. due April 1 1919 on its $7,000,000
50-yr. 5% bonds dated Oct. 1 1895.
V. 109, p. 476.
On Aug. 26 1919
Judge Mayer ordered the consolidation of the foreclosure and
general
creditors' suits against the B. R. T. and its
subsidiaries.
Y. 109, p. 887.
On March 6 1919
Judge Mayer at the request of the receiver, revoked
previous order authorizing the payment of int. on
$3,850,000 current
bonded indebtedness, it
having been ascertained that said int. would aggre¬
gate $154,000 instead of $40,000.
V. 108, p. 972.
On Feb. 15 1919
Judge Mayer in the U. S. District Court at New York
auth. the receiver to accept the award of the Board of
Appraisers of the
War
Department of $1,428,063 for certain dock property owned by the
N. Y. Coasol. RR.
$659,000 of this sum was applied to the payment of
prin. and int. (in March 1919) of the 1st
Mtge. bonds of the Sea Beach Ry.
Co., all of which were owned by the
Brooklyn Rapid Transit Co.
Compare
V. 108, p. 783.
a
ORGANIZATION.—Organized
V
60. p.
Jan. 17 1896, per
plan In "Chronicle. 1
to the property of the old
Long Island Traction
syndicate headed by the late ex Governor Flower
1145. to succeed
Company, foreclosed,
a
having then bought control.
Is not a railroad
corporation,
ganized under the Business Corporation law of New York
but
was
or¬
to bold the stocks
bonds of railroad companies and to aid in the
construction and equip¬
On June 7 1917 Gov. Whitman
signed the Thompson
bill, making possible the consolidation of the
holding company and its
various subsidiaries into a
single public
and
ment of railroads.
ASSETS.—The following is
controlled by the Brooklyn
or
utility corporation.
a
statement of the stocks
V. 104, p.2342.
and
bonds owned
Rapid Transit system Dec. 31 1919.
Stock
s# ■'
'•
,
Entire capital stock
Brooklyn Heights RR. Co. (par)..
Entire capita! stock Bkln Q'ns Co. &
Suburban RR. Co. fpar).
Entire com. stock of the Nassau Electric
RR. Co., par
63,947.75 shares out of 65,000 shares of the
4% cumulative pref.
stock of Nassau Elec. RR
Co., par
134.308.31
shares out of 139,000 shares
of the New York Consolidated
BR.
of
the
common
6,394,775
4.785.985
stock
Co., par
13,430.831
350,000
64,841
500.000
Entire stock of Coney Island &
Gravesend Ry. Co., par
648.406 shares of Brooklyn
Rapid Transit Co., par
Entire capital stock of South
Brooklyn Ry
par....
9 800 shares out of
10.000 of the American
.
Railway Traffic Co.
500 share*- of the Bridge
Operating Co.,
2 .000 shares of N
Y Municipal
Corp.,
1,000 shares out of l .000 shares of N. Y.
V.O shares out of 500 shares Pros. Park
&
par
.
26,865 shares out
.*
$200,000
2.000,000
8,500,000
47,859.85 mares out of 50,000 shares of the 5% non
cumulative
pref. stuck of the New York Consolidated KB,
Co., par
50.000
200.000
par
A Coney
Isl. RR. Co
South Bklyn. RR. Co.
of 29.839 shares Con. Isl. &
Bklyn. RR
100,000
_
50.000
2,686.500
500 shares Bklyn. & North River RR.
Co
100 shares DeKalb Ave A No.
50.000
Bklyn. RR. Co
25 shares Coney Island &
Brooklyn Terminal Co
100 shares B'way Subway A Home
Bor. Car Adv. Co.^r.
27 shares Prospect Park and
Coney Island RR. Co.
10.000
2,500
10,000
2,700
Bonds.
$40,368,132
•1st M 5% bonds Bklyn.
Queens Co. A Sub. RR. (par)
$2,000,000
1st con M Bklyn. Q'ns Co. A
Sub.(owned by Bklyn. H'tsCo.)__
50,000
•1st mortgage 5%
bouds-Brooklyn
„
City RR. (par)
•Refunding gold mtge. \%. Brooklyn
City RR
<
♦Gold 6% bonds Brooklyn
Rapid Transit..
Ref mtg 4% bonds
Brooklyn Rapid Transit Co
Ref mtg 4% bonds B
R. T. (owned by Nassau EI.
RR.)
Consol mtg 4% bonds Nassau
Elec RR
Jamaica A Brooklyn rntge bonds
5%
N
Y
Municipal Ry
Corporation 5%
Coney Island A Brooklyn first consol.
mortgage 4%
Coney Island A Brooklyu consol.
mortgage 4%
Brooklyn City A Newtown mortgage
...
1,627.000
925.000
30.000
22,421
1,761.000
1.161.000
8.000
57,775,000
...
13,000
732,000
5%
7.000
'
—
$88,5107000
*
The $2,000,000 of B.
Q. C. & Sub. RR. 1st 5s and $1,627,000
Brooklyn
City RR. 1st 5s; also $125,000 out of the
$925,000 B. C. RR. ref. 4s held,
and $25,000 out of the
$30,000 B. R. T. gold 5s and $250,000 B. R. T.
ref.
mtge. 4s held, also $18,000,000
6% receiver's certifs., compose
guaranty
fund for performance of
Brooklyn City RR. Co.'s lease.
New Subways and
Extensions.—An agreement was reached In
May 1912
to how the routes of the
n«^w dual subway system In lower Manhattan
should be apportioned between the
Interborough and Bklyn. Rapid Transit,
wad the Court of
Appeals at Albany having on June 29 1912 affirmed the
decision of Justice Blackmar (V.
94, p. 1057) holding to be constitutional
the terms of the
proposed contracts with the
Interborough and B. R. T.
formal contracts were drawn
up by the P. 8. Comm. and were
signed on
Mar
19 1913.
V. 96, p. 862.
See
caption "Rapid Transit in New York
City
In V. 94, p. 1384, 1449, 1566; V.
95, p. 48. Ill, 237, 1040; V.
66.
p. 63. 136, 488, 716, 864.
The new
subway lines, built and to be built
jointly by the Brooklyn Rapid Transit and the
city, are as follows(a) Subway line traversing the
Borough of Manhattan from the
Battery
toi 59th St., mostly on
Broadway, and connecting by tunnel under the East
River with subway lines in
Brooklyn, with
ss
hattan
.
The July 1 1919 int. also on the following issues was not
met, but except
case of the B. R. T. Ref. 4s, the delay was
temporary, the int. on
the two other issues being paid July 9 1919.
July
in the
rights
Williamsburg and Queensboro bridges.
1915 decided
to
make the connection
under the river
over
the
Brooklyn, Man¬
The Board of Estimate In
with the Queens linos
by tunnel
InsteadofovertheQueensboroBrldge.Com. V. 101 p. 1554
Contract for tunnel awarded in
Sept. 1916 (Y. 103, p. 1033) was to have
been completed m April 1920.
Operation of the new
Broadway Subway
Union Square,
Manhattan, to Coney Island via the Canal
Street
subway and Fourth Avenue subway,
Brooklyn, was begun on Sept. 4
u
r
'
*616.
Operation of the Broadway Subway in
Amount Held
Brooklyn Rapid Transit 1st Ref. M. 4s of 1902
Jamaica & Brooklyn RR. 1st M. 5s of 1889—;
Atlantic Ave. RR. Improvement M. 5s of 1894
the $12,000,000 stock of the
Brooklyn City RR. was passed.
No action
taken on the Jan. 1920 dividend.
V. 110, p. 166.
Int. on outstand¬
on
was
T.
Consol. A Ref. M. of June 1 1918 (securing
$29,000,000 bonds pledged to
secure B. R. T. notes) and are
inferior in hen to (a) B. R. T. 1st Ref. M.
of 1902 ($10,000,000 of bonds secured by which are
pledged for B. R. T.
notes) as to any property in receiver's hands; (5) Transit
Development Co.
certifs. of indebtedness of 1907 and indenture of
Heights RR. defaulted in the payment of the third in¬
(for 1918) of the Brooklyn City RR.
The Brooklyn Heights RR. Co. under the
stallment of the Federal income tax
en
series, maturing at such times, bearing such rate of interest, and secured
by such lien or liens as to the Court may seem best."
Of the $16,859,357
applied for the receiver was authorized to raise imniediately $3,000,000,
the court authorizing him to use as collateral the Ref. bonds in the
company's
treasury: the remainder, it was understood, would be required within 12 or
15 months.
The purposes to which the $16,859,357 are to be devoted were
set forth in full in V. 108, p. 377, 478.
On May 29 1919 Judge Mayer
in the U. 8. Dist. Court auth. the receiver to issue
$20,000,000 of receiver's
certificates.
V.
108, p. 2240.
Compare V. 108, p. 2020, 2122.
The
Central Union Trust Co. filed an appeal from this order
(V. 108, p. 2329)
but on July 3 1919 it was affirmed by the U. S. Circuit-Court
of Appeals.
The Court, however, modified the order which made the
certificates a lien
superior to that of the 1st Ref. M. by maintaining that mortgage unim¬
paired.
V, 109, p. 72, 476.
On Aug. 12 1919 Judge Mayer auth. the
receiver to sell at 95 and int. $18,000,000 of B. R. T. receiver's
certificates.
The decree
impounds 70% of the earnings of the B. Ii. T., ]sf. Y. Municipal
Ry. Corp. arid N. Y. Consol. RR. to provide for payment of prin. and int.
of these certificates.
At least $13,000,000 of the
proceeds are to be used to
purchase that amount of the certirs. of indebtedness of the receiver's of the
two last named companies, which certifs. are to be
pledged as part security
for the B.
[Vol. 110.
from
by Public.
$3,439,000
232,000
220.000
R. T. 1st Ref. 4s.—Chairman, Walter E. Frew; W. E.
Edmister, Edward C. Delafield, Stephen Baker, Henry C. Phipps;
Secy.,
Fredk. K. Lister,
13 William St., N. Y. City.
Depositary: Franklin
Trust Co., Brooklyn and N. Y.
V. 109, p. 1792.
The int. due July 1 1919 on the Nassau Electric R. R. Cons.
4s having
been defaulted the following committee was formed:
JM.anJ&tan from Times Square
(V.
to Rector Street was begun Jan. 5 1918
from Times
.Square to 57th Street and
p. 174) and to Lexington Avenue and
(V. 109, p. 982).
(5) Centre St. loop,
connecting the different bridges and extended
through
Nassau and Broad Sts.,
Manhattan, to a connection with the lower East
106.
Committee for B.
p.
188)
was
extended
fiSh Street on July 9 1919 (V. 109,
60th ate«Ut on Sept. 1 1919
80th St.
».
A™e* 8ubway
in
Brooklyn, with
extensions
to
and Coney Island.
Two tracks In the Centre St.
Committee for Nassau Elec. RR. Cons. Mtge. 4s.—E. P.
loop were placed
in operation Aug. 4
Maynard, A. A.
1913 (V. 97 p. 297) and the
Jackson, Elon R. Brown, Haley Fiske, C. A. Peabody, Beekman
other two were placed In
operation from time to time
Winthrop",
during the year 1914-15.
Sec., Austin W. Penchoen, 177 Montague St., Bklyn., N. Y.
The reconstructed
Depositaries;
6e^ ™ , * was P,ac£d In operation May 1 1915 from Sixty-first Street
Brooklyn Trust Co., Brooklyn, N. Y., and Girard Trust Co., Phila.
and Third Avenue to
Coney Island.
V. 109, p. 173.
The Fourth Avenue
Deposits have been called for.
V. 109, p. 1462, 1987.
Subway was
The July 1 1919 and Jan. 1 1920 int. on the 1st M.
£or^a.i.ya4°pened , UIle, 22 1915 to Sixty-fifth Street. The extension
5% bonds of the
to 86th St
was placed in
operation Jan. 15 1916.
Brooklyn Queens County & Suburban R. R., due 1941, having been de- ! New
On June 24 1916 the
Utrecht Ave elevated branch
of the Fourth Ave.
faulted the following protective committee was formed:
subway was placed
In operation as far as 62d
St.; on July 29 1916 line was extended to
Committee for Brooklyn Queens County & Suburban lsf M.
25th
5s.—Charles i
A. Peabody, Alexander J. Hemphill, Ellis W.
.an?
Since early in
Gladwin; Sec., Fredk. S. i 1918 trainst0 °oney Island connection on July 21 1917.
over both the West
End and the Sea Beach lines are run
Stevenson, 55 Cedar St., N. Y. City.
from
Depositary: Guaranty Trust Co., ;
N. Y. City.
7JSquare at 42d St. (on Sept. 1 1919 this service was extended to
V. 110, p. 261.
Lexington Ave. and 60th St.) ali the
The Nov. 1 1919 int. on the Brooklyn Queens
way to Coney Island.
County & Suburban R. R. !
(c) Subway line extending from 6th
1st Cons. M. 5s, due 1941, having been defaulted the
Ave. and 14th St.,
following protective ' serosa Manhattan, under the
Manhattan,
East River, to North 7th
committee was formed:
St., Brooklyn, and
thence part subway and
part elevated through the Eastern District
by Met-
•
Apk., 1920. J
ELECTRIC RAILWAYS
ropolltan, Bush wick, Johnson and Wyckoff Aves. to Join the Cypress Hills
line.
Contract for tunnel
under East River was signed Feb. 29 1916.
Construction is expected to be completed late in 1921.
V. 109, p. 2439.
(cf) Subway line in Brooklyn connecting Manhattan Bridge with the
Brighton Beach RR.
Expected to be completed in the spring of 1920.
In addition to the above, the co. agreed to build several extensions
as well as third track and make additions and improvements to its then
existing lines, most of which work has already been completed.
See
V. 105, p. 399; V. 107, p. 703; also under "Rapid Transit in New York," in,
V. 104, p. 257; V. 106, p. 87. 296. 1462; V. 107. p. 2477.
The cost of con¬
struction to the city of lines in the Dual Rapid Transit System under con¬
tracts Nos. 3 and 4
(including both the Interboro and B. R. T. sec¬
tions), now under construction, was originally estimated at $164,294,079
(not incl. allowances for the expenses of the P. S. Comm.), and the total
cost of construction and equipment to the B. R. T. at $65,000,000. but
because of additions to the work and increased costs due largely to war
conditions these amounts are being exceeded.
The total cost of the whole
undertaking was estimated at $330,000,000 but is now expected to run up
to about $400,000,000.
On the B. R. T. system about 117 miles of new
track had been added up to Jan. 1920 to the 119 miles in operation in
1913.
See under "Rapid Transit in N. Y." in V. 106, p. 296, 1345, 1795.
As of June 30 1919, the N. Y. Munic. Ry. Corp. had expended in contribu¬
tion to city-owned lines $11,162,363 on account of equip, of city-owned lines,
$12,791,309, and for add'ns, extens. & impts. of existing lines, $38,841,399,
a
total of $62,795,071.
The third track on the Fulton St. line between
Manhattan Jet. and Nostrand Ave. was placed In operation Dec. 27 1915.
On Dec. 23 1916 the entire third-tracking of the Broadway Elevated was
placed in operation between Marcy Ave. and Manhattan Jet.
Operation
of the Liberty Ave. elevated extension was begun Sept. 25 1915.
On May
27 1917 the elevated extension to Jamaica was placed in operation between
Cypress Hills and Richmond Hill.
Operation of the Metropolitan Ave.
trolley line extending from Dry Harbor Road, Queens, to Jamaica Ave.,
was
begun Sept. 25
1917.
On July 2 1918 operation of the Jamaica Ave.
was begun.
elevated line from Greenwood Ave. to the terminus in Jamaica
The
new
Highway
tion
Culver rapid transit line was put into operation as far as Kings
on
between
March 16 1919, and to Ave. X on May 10 1919.
The connec¬
this line and the Coney Island Terminal is to be completed
in 1920.
In Dec. 1918 the Commission directed the preparation of a final
order fixing the status of this line as a branch of the Fourth Avenue Subway.
See
"Rapid Transit in New York," V. 107,
2477.
See N.
Y. Municipal
Ry. Corp.—organized to carry out company's
agreement with city—on a subsequent page.
p.
The Brooklyn City RR. Co. Is held under a 999 year lease dated Feb. 14
1893. guaranteeing all fixed charges, organization expenses, taxes and 1095
dividend [Oct. 1919 and subsequent dividends not paid—see above! on
$12,000,000 of stock (par $10).
The lease is nominally to the Brooklyn
Heights Railroad Co., but the Brooklyn Rapid Transit Co.
owns
the
(Lease abrogated Oct. 18
Heights Company leased
the Brooklyn Queens County <fe Suburban RR.
The lease was renewed
year by year, rental being fixed charges, taxes and organization expenses.
On July 1 1901 the B. Q. O. & S. begai operating separately again.
On
April 1 1899 ohe Heights Company temporarily leased the Nassau Elec¬
tric RR.
Later permanent leases were made, but on June 30 1904, presuma¬
bly In consequence of a decision (V. 79, p. 102) compelling the issuance of
transfers, the lease of the Nassau Electric RR. was canceled
entire capital stock of the Brooklyn Heights Co.
1919 for non-payment of rental).
In 1898 the
The Brooklyn Heights RR.
In April 1899 leased for the period of 999 years
Prospect Park & Coney Island RR., the New York & Coney Island RR.
and the Prospect Park & South Brooklyn RR., but the leases of these com
panles were assigned In March 1907 to South Brooklyn Ry., which had been
acquired by purchase in Feb. 1902.
V'. 74, p. 479.
In July 1912, however,
the South Brooklyn Ry. acquired 495 out of 500 shares of P. P. & So
Bklyn stock and 820 out of 1,000 shares of N. Y. & O, I. (V. 95, p. 47),
and in Oct
1915 was auth. to purchase the P. P. & O. I. RR. (V. 101, p
1464).
In Mar. 1920. however, this transaction was still pending.
The
South Brooklyn Railway owns the double-track road extending from New
York Bay, near 38th St., Brooklyn, to 38th St. near 9th Ave., Brooklyn,
the
and in June
1907 increased
its stock from $150,000 to $500,000.
Purchase of Coney
Island
Brooklyn RR.—In Dec. 1913 the subsidiary
Coney Island & Gravesend Ry. received permission from the P. S. Comin
to purchase $2,637,000 of the $2,983,900 outstanding stock of the Coney
Island & Brooklyn RR, V. 96. p. 1020, 1088; V 97. p. 1897
On May 21 1904 the Brooklyn Heights Railroad Co. signed an agree
ment with the city for operation of trolley cars over the new Williamsburg
Bridge. See V. 78, p. 2013, 2386.
Surface cars began to cross this
Bridge In Nov. 1904. V. 79, p. 2084. Later the Bridge Operating Co.
was formed, with $100,000 capital (of which one-half Is owned by the New
York Rys. Company) to operate local service on the bridge.
See V.79,
& augurated Sept. elevated train service 31 1915 the contracts between was
626. Through 16 1908. On Aug. over the Willlamsburgh Bridge the
companies operating over the Willlamsburgh Bridge and the city, namelv
the Brooklyn Heights RR., the Bridge Operating Co., the Coney Island &
Brooklyn RR. and the New York Railways, as assignee of the New York
City Railways, were terminated by Bridge Comm. Kracke, but operations
are
being continued at the request of the city under temporary permits
pending negotiations for a new contract.
On Nov. 15 1912 the Appellate
Division of the Supreme Court, First Dept.. affirmed the order of tne P. 8.
Commission reducing the fare charged over the Willlamsburgh Bridge from
3 to 2 cents, or three tickets for 5 cents.
V. 95, p. 1402, 1471.
The
Transit
Development
Co.
was
organized
In
April
1903
under the
Business Corporation Law, with $25,000 capital, and Is owned exclusively
in tne interest of the Brooklyn
Rapid Transit Co.
On July 31 1918 was
merged with the Brooklyn Rapid Transit.
It is authorized to manufac¬
ture and sell power and to do general contracting work.
On March 1
1907 special arrangement was made by which the company furnishes
power and takes charge of the maintenance and repair of ail the railway
properties in the Brooklyn Rapid Transit system, including their equip¬
ment.
V. 84. p. 569.
In June 1907 capital stock was increased to $500,000
The Transit Development
Co. In Dec. 1913 acquired a tract of about
90 acres in the Gravesend section of Coney Island.
V. 98, p. 72.
The
requirement to supply a power-generating plant for the operation of rapid
transit lines having been suspended by the city, arrangements have been
made with the Interborough Rapid Transit Co. and with the Transit De¬
velopment Co. for purchasing power In Manhattan and Brooklyn, respec¬
tively.
The Transit Development Co. is accordingly largely increasing
its generating capacity.
Wage Increases.—V. 103, p. 843; V. 105, p. 2271; V. 107, p. 401.
Strike.—On Aug. 6 1919 the carmen struck, demanding recognition of
their union, an increase in wages to 75 cents per hour, and an eight-hour
day.
The system was badly crippled for four days, the men returning to
work on Aug. 10 1919. after the receiver had agreed to treat with the union,
provided it could show that 50% of the company's men were
enrolled
members (V. 109, p. 577).
The question of wages was settled by arbitration
the men being awarded a flat increase of 25% over the then existing rate
schedules, retroactive to Aug. 10 1919 (V. 109, p. 887, 981).
Compare
V. 109. p. 675.
Mortgages of Constituent Companies to Secure Advances by Brooklyn Rapid
Transit.—In May 1907 the New York State RR. Comm. consented to the
Sea Beach Ry.. the Canarsie RR. and the South Brooklyn Ry. making
mortgages of $2,000,000. $2,000,000 and $4,000,000, respectively, to secure
certificates of Indebtedness issued by those companies to the Brooklyn
Rapid Transit for moneys advanced for additions, betterments. &c.
In
June 1907 Brooklyn Union Elevated authorized a mtge. for $20,000,000
and the Nassau Electric for $5,000,000 for same purpose; but in July 1908
Public Service Commission denied application for the approval of these lat¬
ter two mortgages.
See particulars V. 87, p. 224.
No bonds will be Issued
under any of these mtges., which are created simply to secure the certifi¬
cates of Indebtedness as Issued from time to time.
The certificates cannot
be Issued at less than par and are deposited under the Brooklyn Rapid
Transit first refunding mtge.
V. 84, p. 1181. 1246. 1550.
—
Fares—Transfer
Charges.
&c.—On
July
18
1919
P.
S.
Commissioner
Lewis Nixon auth. the company to charge 2 cents for transfers on practi¬
cally all Its surface car lines, effective Aug. 1 1919.
The company had
applied for authority to charge 3 cents for transfers (V. 109. p. 370. 477).
Compare "Electric Railway" Section of March 29 1919, page 17, under
caption "Fares."
See also V. 109, p. 1179.
On Oct. 16 1919 transfers
between the elevated and subway lines were discontinued.
V. 109, p. 1527.
On Nov.
17 1919
Corporation Counsel Burr obtained a writ of certiorari
Commissioner Nixon's action in abolishing free trans¬
calling for a review of
fers on the
company's lines and on the lines of the New York Rys. Co.
This writ
however, was quashed by Justice Greenbaum of the Supreme
Court on March 16 1920.
On March 31 1919 P. S. Commissioner Nixon
denied the application of the surface roads for authority to increase fares
from 5 to 8 cents.
Justice Newburger in the Supreme Court has issued a
16
writ of certiorari ordering P.
S. Commissioner Nixon to show cause why
petition.
V. 110, p. 1414.
Coney Island Fare.—In April 1920 the Appellate
Term of the Supreme Court upheld the decision of the
Municipal Court
allowing the co. to charge a 10-cent fare to Coney Island over the Sea Beach
Line.
We understand, however, that an agreement has been reached
he should not grant the
Decision on Five-Cent
between the co. and the Transit Construction Commissioner under
which
the co. will establish a 5-cent rate to Coney
island, effective May 1 1920.
110, p. 1526.
Operation Held Illegal.—On April 1 1920 Supreme Court Justice
Cropsey decided that the operation of buses in Brooklyn by the city was
illegal.
V. 110, p. 1414.
Wreck and Damage.—A wreck occurred on Nov. 1 1918 on the
Brighton
Beach line, resulting in the loss of nearly 100 lives and
injury to more than
100 persons.
V. 107, p. 1836.
See
V.
Bus
Stock
Increase.—On Jan. 3 1913 Increased Its auth. stock from $45,000,000
$90,000,000.
The new stock was issued from time to time up to July 1
1914. exclusively for the conversion of 4% bonds of 1902.
V. 96, p. 01.
In Feb. 1917 applied to P. S. Comm. for auth. to Issue
$299,543 addi¬
tional Brooklyn Queens County & Suburban RR. bonds.
Up to March 27
1920 authority had not been granted.
Suit Against City.—In Dec. 1918 the N. Y.
Municipal Ry. Corp. and the
N. Y. Consolidated Ry. Co. brought suit against the
city of New York and
the P. S. Comm. to compel completion of the city transit
system in accord¬
to
with the contract of March 19 1913.
ance
The
>laintiffs
alleged
that, not¬
withstanding the elapse of 6 years since the execution of the dual contracts
there remained unfinished and still to be constructed or
completed 47 miles
of track out of a total of 115, and 19 miles of road out of a total
of 41 of the
lines which the city assumed to construct by Jan. 1 1917 and
which the
agreed to equip and operate. For further details see V. 107, p. 2288.
Mortgage.—At a special meeting held May 23 1918, stockholders
a new mortgage for
$150,000,000 to take the place of
the present 1st & ref. mtge. of
1902, to which It is generally similar In
amount, character and scope.
It was proposed to use the new bonds as
follows: (a) $7,000,000 for retirement of bonds issued under B.
R. T. mort-
co.
New
ratified the creation of
onds
Sige ofof constituent cos.; (c) $27,621,000taking up, exchanging or retiring
Oct. 1 1895; (6) $53,033,000 for to replace B. R. T. refunding 4s
(tf) $29,619,000 as collateral for loans;
for the cost of $625,000 Coney Island &
(e) $1,350,000 to reimburse the co.
Bklyn. RR. Co. cons. Mtge. bonds,
$650,000 Sea Beach Ry. Co. Cons. Mtge. bonds (these, however, were paid
off in March 1919 with part of the
proceeds from the sale of some dock
property), and $200,000 Bklyn. City RR. Co. 1st & Ref. Mtge. bonds;
(f) $31,377,000 for acquisitions, additions and improvements.
Interest rate
and redemption privilege for "new bonds to be fixed at time
of issuance.
Such of the bonds as may be determined by the directors
may be made
convertible Into the company's stock.
For further details see V. 106. d.
1900, 2227; V. 107, p. 703.
Note Extension.—Because of adverse conditions
existing at the time, the
found itself unable to take up the $57,735,000 secured notes which
Co.
matured
July
1 1918.
The co. arranged for an advance from the War
of $17,320,500, or 30% of the face value of the maturing
period of 3 years at 7% on the oondition that holders of the
notes exchange at least 70 % of their holdings for new
3-year 7 % notes.
The
co. accordingly offered the noteholders for each
$1,000 note (a) $300 cash
and $700 face amount of new 3-year 7% Secured Gold
notes, or (&) $1,000
Finance Corp.
notes, for
a
face amount of
Holders of over
94% of the notes having ac¬
cepted this offer, the plan was declared operative July 16 1918.
Up to
1 1920 holders of $55,146,000 of notes had chosen option (a) and
holders of $2.084.000option (6).
V. 106. p. 2648.2755; V. 107, p. 290.694.
new
notes.
March
STOCK AND BONDS-—
Date.
Interest.
Outstanding.
Maturity.
Q-J
$74,455,159
See text
6 g F-A 1
18,000.000
Aug 1 1921
000,000 ($1,000) gold
/Callable at par and int.
Brook Rap Tr 1st ref mtge,
1902
4 g J-J
HJ17
V/
U1
23.439,000 July 1 2002
$150,000,000. gold. c*&rtf Central Trust Co., N, Y., trustee. " Coupon
bonds ($1,000); registered ($1,000. $5,000)
Stock, $90,000,000 ($100)—
Receiver's certifs Ser A $20.-1
~
'
~
1919
*
'
'•
jaw**
.
JK
©
v
w'J i
_
B
R
T
consol
and ref mtgel
$150,000,000
Brook
Rap Tran gold mtge,
f7.000.000 notes
IT secured
c*ntf j
1918
6%
See text
/.
1928
Columbia Trust Co., N. Y., Trustee.
1895
5 g A-O
/6.970.000 Oct
11945
d Int. at Central
Tr. Co., N
Y., trustee.
$57,735,7 g J-J
57,230.000 July 1 1921
000(1100,$500&$l,000)gtf Central Union Trust Co., N. Y., Trustee.
1918
,
Brooklyn City
Refund
RR—
mtge,
$6.925.000(
1906
4 g F-A
Z925.000 May 1 1950
ntflLong Island L & Tr Co, Bkiyn, trustee.
1891
5 J-J
y4,373.000
July 1 1941
Brooklyn Heights RR first/ 1891
6 A-O
250.000 Apr 1 1941
mortgage, $250,000
tftint.atPeople's Tr. Co., Brooklyn, trustee.
Brooklyn Queens Co & Sub/ 1894
5 g J-J
el,500.000
July 11941
first M, $3,500,000 .ntflGuar. Trust Co., New York, trustee.
First consol M, guar p & 1/ 1894
5 g M-N
m2,834.000
July 11941
"(end), $4,500,000—ntf [Central Trust Co., New York, trustee.
Jamaica & Brook RR first/ 1889
5 g J-J
/ 232,000 Jan
1 1930
mortgage. $240.000
tf (Central Trust Co., New York, trustee.
Brooklyn Union Elev 1st M,( 1899
5g F-A
15.967,000 Feb
1 1950
guar. $10.000.000-tfjlnt. at Central Tr. Co., N. Y., trustee.
Kings Co Elev first mtge,/ 1899
4 g F-A
7,000,000 Aug 1 1949
$7,000,000($1.000),g(gu)ntf lint, at Central Trust Go.,N. Y., trustee.
Nassau El RR Co cons M
1898
4 g J-J
p 10,347,000 Jan
1 1951
bonds ($1,000), $15,000,- Guaranty Trust Co., N. Y.t trustee. Bonds
000
c*&rtf guar, by end. by Bklyn. Heights RR.
First mtge bonds (closed) tf
1894
5 A-O
660.000 Apr
1 1944
Hamilton Trust Co., N. Y., trustee.
Atlantic Ave. gen mortgage
1891
5 g A-O
c2.241.000 Aor
11931
gold (closed)
ntf Brooklyn Trust Co., trustee.
Atlantic Ave improvement.!
1894
5 g J-J
220,000 Jan
11934
gold (closed)
tfjCentral Trust Co., New York, trustee.
B.
B.
&
W.
E. general/ 1893
5 g A-O
121,000 Oct
11933
gold, $121,000
tf [Franklin Trust Co., N. Y., trustee
N Y Mun Ry Corp 1st Mtge
1912
5 g J-J
n2,265,000 Jan
11960
$100,000,000 ($1,000 and Interest at Central Trust Co., New York,
Trust66
v
$500) gold
c*<fer tf
1898
Coney Isl & Bklyn 1st consol
4g J-J
si,987.000 July 1 1948
M $2,000,000 gold
ntf Mercantile Trust Co., New York, Trustee.
Consol mortgage $10,000.1904
4 g J-J
*1,500.000 Jan 1 1955
000 gold ($1.000)
c*tt Mercantile Trust Co., New York, Trustee.
1889
5 J-J
Bklyn City
& Newtown
hi,993,000 July 1 1939
1st M $2.000.000_ —ntf Mercantile Trust Co., New York, Trustee.
Real estate mortgages
5%
409.502
Rental payments in addition to payment of fixed charges—
Brooklyn City RR. stock. $12,000,000, 10% Q.-J. 15. 999 yrs_$ 1,200.000
(The above lease was abrogated Oct. 18 1919.)
($1,000)
1st consol M.$6.000,000ntf
.
Prospect Park & Coney Island RR., yearly rental
45,000
c Atlantic Avenue general mortgage 5s of
1931 were subject to call In
1909. but many of them (how many Is not known) have been stamped,
releasing them from the liability to call.
d The Central Trust Co. of New
York was trustee of this mortgage until
Oct. 1903, when Colonial Trust Co. (since consolidated with Trust Co. of
America—latter being merged Into Equitable Trust Co.) was substituted,
e Not including $2,000,000 held by Brooklyn Rapid Transit Co.
/ Not Including $8,000 owned by B. II. T. Co.
h Not Including $7,000 held In sinking fund.
k Not Including $732,000 owned by B. R. T. Co.
I
Not
including $30,000 owned by B. Ii. T. Co.
$50,000 owned by B. R. T. Co.
$57,735,000 owned by Brooklyn Rapid Transit Co.
p Not Including $1,161,000 owned by B. R
T. Co.
s Not including $13,000 held in sinking fund.
t Entire amount owned by Brooklyn Rapid Transit Co.
y Not including $ 1.627,000 owned by B. R T. Co.
z Not including $24,182,000 owned by B. R. T. Co. and constituent cos.
Stock.—In the reorganization of the Long Island Traction, tne old $30,000,000 stock paid an assessment of $10 per $100 share, the old stock being
reduced to $20,000,000, and $7,OOO.OO0 of 5% bonds being authorized,
against $3,000,000 of Long Island Traction.
$64,840 stock in addition
to amount reported outstanding is held in treasury.
Dividends.—First div., 1%. paid April 1 1909; July. 1%; Oct., 1%.
In
1910. 4H%: in 1911 and 1912. 5%; in 1913, Jan., 1H%; Apr.. 1#%; in
July increased rate to 1H %: same rate quar. to and Incl. Jan. 1918.
April
1918 dlv. deferred (see v. 106, p. 1125, 1576).
No cash dividends may be
paid during life of 3-year notes.
Interest on
Bonds, Where Payable.—Interest on the Brooklyn
Rapid
m
n
Not Including
Not Including
Transit mortgage of 1902 for $150,000,000 and
the two Elevated Issues Is
payable at the Central Union Trust Co.; on the Brooklyn City RR. refund¬
at company's office; on the Nassau Electric bonds, including
ing bonds
ELECTRIC RAILWAYS
16
West End issues, at the Central Union Trust Co.,
the Brooklyn Queens County & Suburban mortgages and the
Atlantic Avenue and
N.
Y.;
on
Jamaica & Brooklyn first mortgage at the Brooklyn Trust Co., Bklyn.
On
the B. R. T. secured notes of 1912 and on N. Y. Mun. Ry. Corp. 1st M.
bonds at Central Union Trust Co.
Int. on all Coney Is]. & Bklyn. bonds
payable at Central Union Trust Co., N.
is
On Bklyn. Heights RR.
Y.
1st M. at People's Trust Co., Bklyn.
OFFICERS.—Gen. Mgr. under Receiver, W. S. Menden; Chairman of
Board, Nicholas F. Brady; V.-P. & Treas., C. D. Meneely; Sec., J. H.
Bennington; Comp., Howard Abel.
Offices, 85 Clinton St., Brooklyn.
V. 108, p. 2240, 2329, 2527, 2628: V. 109, p. 72, 171, 269, 370. 476, 577,
675, 774, 887, 1079, 1179, 1272, 1366, 1461, 1527, 1792, 1891, 1986, 2071,
2073, 2171, 2439; V. 110, p. 77, 166, 764, 1414, 1526.
COMPANIES CONTROLLED B Y BROOKLYN RAPID TRANSIT CO
pledge of an equal amount
of First Mortgage 5s of New York Municipal Ry. Corp. and by $29,000,000 Consolidated & Refunding Mtge. 10-year 6% bonds.
The in¬
denture also provides for the exchange of the $10,000,000 B. R. T. Ref. 4%
bonds pledged as security for the old issue for new 10-year 6% Consol. &
Ref. bonds as soon as the Ref. 4s can be released from the old indenture.
During the life of the notes the co. may pay no dividends upon its capital
stock in cash or in securities or scrip unless such securities or scrip shall rank
subsequent to rights of noteholders.
The notes are red. all or in part on
any int. date on 30 days' notice at a premium of H % for each 6 mos. which
the notes may still have to run at the date of redemption. V. 106, p. 2755.
(1)
Secured Notes.—The 1918 notes are secured by
Listed
V. 108. p. 1510.
$150,000,000.—StoCKhoiders authorized March 20 1902
bonds for $150,000,000.
$59,179,000
New York Stock Exchange.
on
for
Mortgage
first refunding 4% gold convertible
were reserved to retire bonds issued,
[Vol. 110.
or
to
be issued, under mortgages of
New
Receiver
York
Consolidated
RR.
Appointed.—See Brooklyn Rapid Transit above.
Certificates.—See B. R. T. above.
Receiver's
ORGANIZATION.—Incorp. at Albany on Nov. 30 1912 as a consolida¬
tion of the Brooklyn Union Elevated RR., Sea Beach Ry. and Canarsle
V. 95. p. 1608.
Brooklyn Rapid Transit owns or controls $13,430.-
RR.
831 out of the $13,900,000 common stock and $4,785,985 out of the $5.000,000 preferred stock.
Owns all the outstanding stock of the N. Y. Municipal Ry. Corp. (which
holds the contracts made with the City of New York ln 1913 for the opera¬
tion of subwaye, &c.) and guar, its bonds, p. & 1., jointly with B. ft. T.
Lease.—All rights, &c., of the
N.Y. Municipal Ry. Corp. under its con¬
city have been leased and assigned to the New York Consoli¬
see statement of N. Y. Municipal Ry. Corp. below.
The New York Consolidated In 1915 leased for 999 years the Nassau
Electric RR.'s terminal at Coney Island, the consideration being $226,000
tract with the
dated RR.
For terms,
companies and the $7,000,000 Brooklyn Rapid Transit 5s,
for improvements, additions and acquisitions, as ueeded
from time to time.
The mortgage provides that a fund of $5,000,000
in bonds or their proceeds be at all times at the disposal of the cbmpany
construction
for the purposes mentioned.
See V. 74, p. 377.
duced for any of the purposes authorized, more bonds
are
constituent
and
the
rest
As this fund is re¬
may be authenticated
by trustee and delivered to the company on Its order.
These bonds were
convertible into stock, par for par, before July 1 1914, and $29,619,000 were
so converted.
They are subject to call on any interest day until the year
2000 at 110 and interest; after that at par and interest.
See listing applica
tions in V. 81, p. 1856, 1857, for list of securities pledged for the bonds; also
listing applications in V. 82, p. 517: V. 83, p. 1122; V. 85, p. 1523; V. 86
p. 923; V. 90, p. 786.
bunds.—Of the $7,000,000 50-year gold 5s of the Brooklyn Rapid Transit,
$3,000,000 went to stockholders for assessment.
For description of prop
arty covered by the mortgage, see V. 62, p. 1138.
See also V. 67. p. 904.
Brooklyn City RR. mortgage of 1891 is for $6,000,000 and Is a first lien
on the old Brooklyn City road and a consolidated lien on the lines acquired
by consolidatioh iri 1890.
Of the $6,000,000 Issued, $4,373,000 are In the
hands of the public and the balance is held In the guaranty fund.
The
bonds are subject to call.
*
Stockholders of the Brooklyn City RR. July 10 1908 authorized a new
mortgage for $6,925,000 to provide for refunding.
V. 82, p. 1437.
The
bonds are subject to call at 110 and Interest.
The total authorized issue of first consolidated mortgage gold 5s of the
Brooklyn Queens County & Suburban RR is $4,500,000, of which $1,616,000 are reserved for extensions, on which they will be a first lien.
Of the
$2,884,000 outstanding, $2,255,000 in 1898 were endorsed with the guar¬
anty of the Brooklyn Heights RR. Co. as to prln. and Interest, and Ln Jan
1899
provision was made for guaranteeing the remainder
upon
the payment
upon
York
delivery of lease and $100 per annum from Aug. 1915 which the New
Municipal Ry. Corp. was authorized to charge against the cost oI
under
dual
the
contracts.
system
See
V.101,p.447.
tract for construction of new terminal was let in March 1916.
Con¬
Two tracks
in operation from Sheepshead Bay to Culver Terminal.
The entire
terminal was to be ready for use before the close of 1919, with the exception
of the connection with the city-built Culver line.
The latter was put in
operation as far as Kings Highway on March 16 1919, and to Avenue X
on May 10 1919.
The connection with the Coney Island Terminal was to
be completed in 1920.
This line will finally operate as a branch of the
Fourth Avenue Subway.
Y. 107, p. 2477.
Favorable Decision.—In April 1918 tbe Appellate Division of the Supreme
Court upheld the decision of Supreme Court Justice Erlanger in April 1916,
holding that under the contract with the city, dated March 19 1913, the
company was relieved from the obligation of paying tolls for the operation
of cars over the WMiamsburgh Bridge.
V. 106, p. 1.576.
Division of Earnings with City.—As the New York Consolidated holds,
under assignment and lease, all the rights acquired by the New York Munici¬
pal Ry. Corp. in the latter's contracts with the city, all the earnings ac¬
crue to it.
Tbe division of earnings is on the following basis:
1. To the company, $3,500,006, as representing the net earnings of the
previously existing railroads which went to form part of the new rapid
transit system.
Out of this reservation the company pays interest charges
on capital investments prior to Mar. 19 1913 in the then existing railroads.
2. To the company, 6% on its new investment in construction and equip¬
ment prior to tbe beginning of permanent operation and thereafter interest
and 1% sinking fund.
3. To the city, interest and 1% sinking fund on Its investment ln cost of
construction.
of $10 per bond.
Both B. Q. C. & S. loans are subject to call from 1916.
The $650,000 Sea Beach Ry. 4% bonds due Sept. 1 1916 were taken up
at maturity by the B. R. T. (retired in March 1919).
V. 103, p. 843
gent reserve fund, Is to be divided equally between
The B.
Results
B.
&
W.
E.
1st 5s, due
B. R. T. at maturity.
The Nassau El. 1st cons. M.
April 1 1917, were also taken
up
by the
are
Coney Island & Brooklyn Bonds.—Of the $10,000,000 bonds auth. by
mtge., $4,000,000 are reserved for prior liens and $3,768,000 are reserved
for ext. and Imps.
No sinking fund, and bonds cannot be called.
MILEAGE.—The system Includes:
First
Name—
Second
Sidings,
Total
Track.
Track.
&c.
Miles.
Brooklyn Heights RR
3.156
Brooklyn City RR
106.387
Bklyn. Queens Co. & Suburban RR— 31.246
1.851
101.655
0.198
24.332
5.205
231.918
30.521
3.189
8.655
146.109
Electric RR
69.671
Consolidated
RR.
68.083
4.156
Coney Island & Gravesend Ry.
South Brooklyn Railway
Prospect Park & Coney Island RR
Coney Island & Bklyn. RR
York
3.307
.459
.459
8.399
9.281
22,178
.234
3.301
64.956
7.697
4.219
8.327
26.007
22.490
6.948
52.616
53.173
49.655
156.032
1.762
,231
3.765
3.509
and
New York Municipal Ry.
Corp
53.204
Trackage on N. Y. & Brooklyn Bridge—
Rapid transit lines
1.762
Surface lines
1.802
1.707
1.741
N, Y. Mun. Ry.—Lessee City of N.Y. 26.854
1.741
.218
3.700
26 693
23.002
76.549
321.841
128.290
783.028
Trackage
on
WMiamsburgh Bridge—
Surface lines
Total miles operated
332.897
EQUIPMENT Dec. 31 1919.—5,280
later than Feb.
1 1918, 250 new surface cars of the centre-entrance, steptype, with seating capacity for 58.
V. 103, p. 2340.
The com¬
protested and a re-hearing before the P. S. Comm. In Feb. 1918
resulted in a compromise agreement for the immediate
purchase of 100
large subway and elevated cars and 50 surface trailer cars and the con¬
version of 100 centre-entrance cars for multiple-unit
operation, at a total
less
pany
of more than $3,000,000.
V. 106, p. 714.
Proceedings to compel
compliance with original order were adjourned until Oct. 1918, the
In Oct. 1918 the Commission denied
the co's application for the modification or
postponement of the order.
On
cost
full
Commission reserving all its rights.
Dec. 5 1918 Justice Russell Benedict in the Kings
County, N. Y., Supreme
Court issued, upon application by the N. Y. P. S.
Comm., writs of man¬
damus requiring the co. to purchase the 250 cars as
specified in the Com¬
mission's order.
Y. 107, p. 2187.
Compare V. 107, p. 1919.
On Dec
19 1918 Supreme Court Justice Russell Benedict granted the co. an exten¬
sion to Nov. 1
1919, by which time the cn. must have the 250 cars in actual
operation.
V. 107, p. 2375.
In June 1919 the company placed an orde^
200 safety cars with the J. G. Brill Co.
V. 108. p. 2527.
See also
V. 109, p. 476, 1461, 2440.
for
REPORT.—Annual report for 1917-18 will be found in V.107. p. 691,703
INCOME ACCT. BKLYN. RAPID TRANSIT AND CONSTITUENT COS
FOR CAL. YEAR 1919 AND YEARS ENDING JUNE 30.
Cal. Year
Years end. June 30
1917-18.
1916-17.
1918-19.
1919.
Passengers carried
771,044,274 760,519,397
Revenue—
Transportation
$34,140,417 $32,550,540 $29,879,309 $28,992,111
925,288
722,790
627,188
511,908
Miscellaneous
Total.
..-$35,065,704 $83,273,330 $30,506,497 $29,504,019
Expenses—
Maintenance of way
$2,946,454
Maint. of epuipinent—_
3,870,169
Operation of power plant
4,014,223
Operation of cars..
12,900,315
Damages & legal expense
1,096,718
General expenses
1,289,158
Freight & mail expenses396,445
Amer. Ry. Traf. Co. exp.
351
Taxes
2,200,633
Total
Net earnings
Other income
$2,419,105
2,921,824
3,815,513
10,946,396
1,563,971
924,928
311,798
$2,480,439
$2,505,288
2,632,885
2,667,809
2,496,349
2,041,617
7,583,622
8,044,547
1,194,715
811,023
280,100
1,040,685
'
768,991
304,666
221
288
199
2,446,900
2,443,652
2,351,104
>.-.$28,714,467 $25,350,656 $20,555,457 $19,092,521
$6,351,238
$7,922,674
$9,951,040 $10,411,498
751,397
509,724
407,729
427,815
Total income.
Fixed charges (net)
Surplus
$7,102,635
8,142,998
$8,432,398 $10,358,769 $10,839,313
8,011,474
6,246,715
5,644,074
def $1,040,363
$420,924
Dividends
def$l,040,363
$4,112,054
$5,195,239
(3)2.233,659(6)4,467,318
__
Balance
Temporary
Operations
Under Contract
$420,924
Total revenues—.
-
Total deductions
Company's preferential
Year end.
the City.
Aug. 4 '13 to
June 30'18.
with
June 30'19.
$15,710,096 $13,057,406 $66,433,851
—-U11.378.416
$8,296,955 $42,817,768
5,886,201
5,166,201
26,613,632
-
-
Total
$17,264,617 $13,463,1.57 $69,431,400
$405,751
82,997,549
Deficit in company's preferential
$1,554,521
Interest paid by city on i ts cost of con¬
struction of property
•
placed in
op-
eration plus sinking fund of 1%
5,196,051
1,428,610
10,181,905
Total deficit
$6,750,672
$1,834,361 $13,179,454
Deficits in city's charges during temporary operations to be added to
the cost of construction of city-owned lines.
Compare V. 106, p. 1348,1795;
V. 107, p. 703.
STOCK
AND BONDS—
Com stock. $13,900,000
Date.
($100)
Interest.
Q-M
Q-M
Pref stock, *5,000,000 ($100).
Outstanding.
Maturity.
$13,900,000
Dec'18 1^
5.000,000
Dec'18 1
Bklyn Un El 1st M. $15,967,-( 1899
5 g F-A
15,967,000 Feb 1 1950
000, gold, 4%
till 1905,(Interest at Central Trust Co., New York,
since 5% ($1,000)
tfl
Trustee.
Kings County Ei 1st M, gold,/ 1899
4 g F-A
7,000,000
Aug 1 1949
$7,000,000 ($l,000).c*ntf (Int. at Central Trust Co., N. Y., Trustee.
Bonds.—-Bonds of tbe Brooklyn Union and Kings County Elevated RR.
companies are guar. p. & I. by Bklyn. Heights RR., guaranty to be stamped
upon bonds upon presentation.
In Feb. 1902 began stamping-bonds with
guaranty.
Certain days each month are designated for stamping.
See
V. 106, p. 188.
Both Issues are listed on N. Y. Stock Exchange.
DIVIDENDS.—The first dlv.,of2%,on the old Bklyn. Union Elevated
RR. pref. stock was paid June 29
cars.
Closed cars, 1,279; open cars,
1,171; convertible, 667; semi-convertible, 1,059; subway, 580; miscellaneous,
524. On Dec. 14 1916 the P. S. Comm. ordered the co. to provide by not
1
of Lines
June 30'19.
of
guar,
gresentation on certain dates during the year of 1919 by the Brooklyn
[eights RR. Co. V. 107, p. 2475.
New
after making provision for a moderate contin¬
the company and the
Tbe company's preferential payments are to be cumulative.
Year end.
bonds
(by end. on each bond)
by the Brooklyn Heights RR.
Besides covering the mileage directly owned
they are a lien by a supplemental agreement upon the stock of the Coney
Island & Gravesend Ry. and will become a direct lien on this line should It
become merged in the Nassau Electric.
Of the total of $15,000,000 bonds
authorized, the unissued remainder ($3,242,000) is for prior liens.
See
listing application in V. 72. p. 342.
In Dec. 1918 it was announced that the Brooklyn Union Elev. 4-5%
bonds and the Kings County Elev. 4% bonds would be guaranteed upon
Nassau
4. Any surplus remaining,
city.
$1,878,395
$727,921
1901; in 1902 and 1903,3%; in 1904,3H%
1907 to 1911, iocl., 5% per annum; in 1912
June, 2)4%; Dec., 6%.
On com., 1st div., 5%, paid June 10 1910; Dec..
2H%.
In 1911, 5%.
In 1912, June, 2H%; Dec., 6%.
In Nov. 1912 became part of the N. Y. Consol. RR.
Divs. on both
classes of stock of the latter have been as follows;
In 1913. June, 6%;
Sept.,
Dec., 1%%.
In 1914, 8)4%.
In 1915 to and incl. July 1918
at the rate of 10% per annum.
In Sept. and Dec. 1918 1H% quar. was
paid on both classes of stock.
None since.
ROAD.—Embraces 232.581 miles of rapid transit track, of which 76.549
miles are leased.
The New York & Brooklyn Bridge has 3.755 miles of
track In addition.
When all the lines embraced in contract with the city
have been completed, will consist of approximately 285 miles of track, In¬
cluding trackage rights over the Astoria and Corona (Queens County) hues
enjoyed mutually with tbe Interborough Rapid Transit Co.
OFFICERS.—Pres., John U. Hailcck;
V.-P. & Treas., O. D. Meneely;
Sec.. J. H. Bennington; Comp., Howard Abel.—V. 103. P. 884.
In 1905. 4%; In 1906, 4M%; in
(o) New York Municipal Railway Corporation.
Receiver Appointed.—See B. R. T. above.
Receiver's
Certificates.—See B. R.
T. above.
ORGANIZATION.—Incorp. in N. Y. on Sept. 27 1912 to operate the
enlarged transit system (elevated roads and subways) covered by the agree¬
ment between the company and the city, and to construct and own such
parts of tbe system as are scheduled for private rather than public owner¬
ship.
V. 95, p. 818.
The lines to be constructed by the city are leased to
the company for a period of 49 years from Jan. 1 1917 and are
operated
by the company in connection with the previously existing railroads of Ithe
New York Consolidated RR. Co. (as enlarged and extended) as one system,
and for a single fare.
The ci ty-constructed lines id ay be recaptured by the
city after 10 years upon payment to the company of a fixed percentage of
the latter's investment In construction and equipment. (115% at the end of
10 years and a gradually diminishing amount in succeeding years), so that
the company will receive an amount which, with the accumulations of Its
sinking fund, will at least make good Its investment.
In March 1913 the P. S. Commission approved a contract with the Brook¬
lyn Heights RR. for the use of the Lutheran Cemetery line.
This line was
elevated and was placed in operation Feb. 22 1915.
V. 100, p. 732.
LEASE TO N. Y. CONSOL. RR.—On Mar. 26 1913 the P. S. Comm.
sanctioned the lease and assignment to the N. Y. Consol. RR. of all rights
under the contract with the city respecting new
rapid transit lines.
(See
V. 96, p. 360, 947).
The company also transferred to the N. Y. Consol.
RR. the certificates for extensions and additional tracks, as well as certain
Brooklyn and the above-mentioned contract with the Brooklyn
Heights RR. iegarding the Lutheran Cemetery line.
The lease calls for
6% dividends on the N. Y. Municipal Ry. Corp. stock.
real estate In
The Municipal Ry. Corp. agrees to furnish all the money necessary to
carry out the terms of the dual system contracts and has the option of doing
all the construction work and acquiring all the
equipment, or of requiring
the Consolidated Co. to do so
on
reasonable notice.
In August 1913 the P. S. Commission granted
authority to issue $400,000
additional stock, of which $100,000 was issued In
April 1915.
Up to June 30
1919 only $200,000 stock out. all owned by New York Consolidated RR.
In March 1916 the co. applied to P. S. Comm. for auth. to issue $697,500
additional stock to reimburse the B. R. T. for commissions and fees for
counsel
paid out in connection with the dual subway system financing.
Still pending.
Default
on
Bond Int.—See B. R. T. above.
Ape
,
ELECTRIC
19^0.)
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity
Stock, $2,000,000 ($100)..
.All the $200,000 out owned by N. Y. Consol.
First mortgage, $100,000,0001
1912
5 g J-J
$2,265,000
Jan 1 1966
($1,000 <fc $500),g.c*&r_tfllnt. at Central Trust Co., N. Y., Trustee.
Bonds.—Guar., p. & i.f by B. R. T. and N. Y. ConsoL RR.$ 60,000,000
were Issued and pledged as security for B. R.T. secured notes.
$2,265,000
of said notes were converted Into bonds of this Issue.
Right of conversion
terminated Jan. 1 1916.
Semi-annual sinking fund began July 1 1918
(minimum, .3175%; maximum, H%).
Bonds are subject to call as a
whole, but not in part, except for sinking fund, at 107^ on 90 days' notice.
See V. 101, p. 2072. Listed on N. Y. Stock Exchange iin June 1916. V. 96,
p. 360, 863. 947.1773; Y. 101, p. 2072; V. 102, p. 2255;'V. 108, p. 2123.
(2) Nassau Electric Railroad.—A trolley road.
Receivership.—See B. R. T. above.
Power Bills Made 1st Lien Against Property.—See V. 109, p. 1179.
—
ORGANIZATION.—Chartered
Mar.
13
17
RAILWAYS
OFFICERS.—Pres., Fred'k W. Rowe; V.-Pres., Frederick D. Mackay
and Chas. J. Edwards; Sec.,
Walter Hammitt; Treas.. Ed. T. Horwlll.—
1733; V. 98. p. 523; V. 106, p. 1797.
V. 96. p. 285, 1557, 1840; V. 97. p.
RR.—A trolley road.
ORGANIZATION, &c.—Chartered Feb. 15 1861.
In August 1919 the
Comm. denied the co.'s application for auth. to increase fares from
3 to 4 cents. V. 109, p. 677. Compare V. 108, p. 2331. Stock, $200,000, all
Issued; par, $10.
Bonds, $75,000 1st mtge. authorized; $31,000 out.
Track, 2.32 miles, changed to electricity In 1898.
6 pass. cars.
For year
ending June 30 1918, gross, $70,592: net, after taxes, $19,109; other in¬
come, $544: interest, &c., $1,950; surplus, $17,704.
OFFICERS.—Pres., John F. Murphy; V.-P., D. W. Sullivan; Sec. and
Treas., Wyllys Terry.
Office, 264 Van Brunt St., Brooklyn, N. Y.—
VAN BRUNT STREET & ERIE BASIN
P. S.
V.
108. p. 2331; V. 109. p. 677.
1893 under the laws of New
Opened in July 1895 and In April 1896 leased the Atlantic Avenue
RR., &c.
As stated above, the Rapid Transit Co. owns or controls all
of the $8,500,000 common stock of the Nassau Electric and $6,394,775
out of the $6,500,000 preferred stock.
Was formerly leased for 999 years from April 1 1900 to Brooklyn Heights
Railroad, but, coincidently with a decision compelling the issuance of
transfers from one leased line to another (V. 79, p. 102), the lease was ter¬
minated on June 30 1904.
For order requiring universal transfers, effective
June 1 1914, see "Brooklyn Rapid Transit Co." further above.
For lease of Coney Island terminal to the N. Y. Consol. RB., see remarks
under that company above and under Brooklyn R. T. Co. in V. 101. p. 447.
Default.—See B. R. T. above,
Date.
Interest.
Maturity.
Outstanding.
STOCK AND BONDS
$8,500,000
Common stock, $8,500,000
York.
.
.
aee text
$6,500,000
M-N
6,500,000
Safety" equip trust)
6%
208,000
ctfs Trust No. 4, Series "A"/Fidelity Trust Co., Philadelphia, trustee.
Series "B" certificates
129,000
hands—For details see Raoid Transit statement above
BUFFALO,
N.
Y.
BUFFALO & LAKE ERIE TRACTION CO.—A
trolley road.
Receivership.—On application of the New York Trust Co., raortg
Justice Brown in the Supreme Court at Buffalo on July 7
appointed Geo. Bullock receiver.
V. 101, p. 129.
Default.—The company having defaulted on the Int. due Nov. 1 1912 on
the first and ref. M. 5%
bonds (subsequent coupons also defaulted),
a protective committee requested the bondholders to deposit their bonds
i., 37 Wall St., N. Y., as depositary, or the Glrard
Ifil!
trustee.
Trust
Co.
The
as sub-depositary.
'I jpositary.
committee also drew up
of Phila.
aforesaid
V. 97. p. 297. but in Dec. 1913 the
a plan of reorganization
plan was abandoned.
(see
ORGANIZATION.—Incorporated in New York and Pennsylvania in
Dec. 1900 and is a consolidation of the Hamburg Ry., the Dunkirk & Fre-
Preferred 4% cum,
donia
"Birney
Traction
—
Equipment Trust Certifs.—Series "A" were
issued by the Fidelity Trust
by assignment of a lease covering 73 Birney
safety cars, for which purchase money notes aggregating $372,926
of Lindley M. Garrison, receiver of the Nassau Electric RR., B. R. T.
System have been deposited.
These cars were acquired under lease by the
receiver, on order of the Court, and with the approval of the N. Y. P. S.
Commission.
This issue represents about 50% of the selling prices of these
cars, the balance having been paid in cash (20%), and by an issue of $129,000
Series "B" certificates which are deferred in lien.
V. 110,1 p. 465.
ROAD.—Embraces 146.409 miles of single track.
1
Atlantic Avenue RR. (now part of Nassau Electric) owned the double
track steam road (since converted to electricity) from Jamaica to Flatbush
Avenue Station in Brooklyn, 9Hi miles (19 miles of track), which Is leased
for 99 years from June 1 1877 to the Long Island RR. Co., affording that
company entrance into the city of Brooklyn—rental, formerly a percentage
of receipts, was changed in 1895 to $60,000 yearly.
V. 61, p. 828.
Liti¬
gation has arisen with Long Island
Avenue.
See V. 74, p. 1139.
In
that the city had the right to tear
looking to the exercise of the right.
DIVIDEND.—First div. on pref. under lease was paid Dec. 31 1900, 4%.
1901 to 1907 incl., 4% per annum; in 1908, Nov., 2%; in 1909, Nov.2%.
In 1910and 1911.4%;in 1912, May,2%; Nov., 2% reg. and4% on account
of arrears. In 1913. May, 2%;Nov..4%: 1914 to 1917 incl., 4%; none since.
—V. 109, p. 173, 270, 888, 1179, 2172; V. 110, p. 465.
(3) Coney island & Brooklyn RR.
r
Receivership.—See B. R. T. above.
Foreclosure Proceedings.—Int. due July 1 1919 on the company's bonds
having been defaulted, Judge Mayer, in March 1920, authorized the Bankers Trust Co., N.
Y., to bring a foreclosure suit against the company.
V. 110, p. 969.
In Dec. 1913 the Coney Island & Grave9end Ry. (subsidiary of the Bkiyn.
Rap. Transit) received permission from the P. S. Comm. to acquire 26,370
shares of the stock of this company.
Coney Island & Gravesend Ry. owns
$2,637,000 and the B. R. T. $49,500 of the co.'s stock.
Bklyn. Rap." Tran.
Co. owns $625,000 consol. mtge. bonds of 1904.
ORGANIZATION.—Chartered Dec. 10 1860.
Cars commenced run¬
ning over the Brooklyn Bridge Febi 15 1898.
See V. 66, p. 383.
Brooklyn City & Newtown was leased in Nov. 1897 for 999 years.
In
1900 acquired all the stock of that company, but legal proceedings com¬
pleting merger with Coney Island & Brooklyn were not effected until 1910.
Default.—See B. R T above
R. T.
Date.
Interest.
Outstanding. Last div.&c.
Sr 'OOK.AND BONDS—
iTC
6 Q-M
$2,983,900 June '18. 1
Stock, $3,500,000 (par $100) —
1898
4 g J-J
x 1,987.000 July
11948
First consolidated mortgage
Mercantfle Trust Co., New York, Trustee.
$2,000,000, gold
ntf
1904
4 g J-J
Consol mortgage,$10,000,000
j/2,125,000 Jan
1 1955
Mercantile Trust Co., New York, Trustee.
gold ($1,000)
c*t?
1889
5 J-J
11,993,000 July 11939
Brooklyn City & Newtown
first mort $2,000,000-_ ntf (Mercantile Trust Co., N. Y., Trustee.
Real estate mortgages
5%
288,062 --—
x Not including $13,000 held
in sinking fund.
y Not including $107,000 held in treasury.
z Not including $7,000 held
in sinking fund.
Bond Interest.—Int. on all above bonds payable at Cent. Tr. Co., N. Y.
Bonds.—Of the $10,000,000 consol. mtge. bonds of 1904 auth. by mtge.,
$4,000,000 are reserved for prior liens and $3,768,000 are reserved for exts
and linpts.; $107,000 in treasury. Nosinkingfund and bonds cannot be called
ROAD.—First track, 23.178 miles; 2d track, 22.490 miles; misc. track,
6.948 miles; total oper., 52.616 miles.
460 passenger and 26 service cars
DIVIDENDS.—In 1895. 6%; in 1896. 5%\ in
Co., trustee, and are secured
one-man
V.67, p. 955.
In 1899 and 1900, 10% "
""
1904, 16%; In 1905, 10%; In 1906. 8%.
after to Jan. 1914, when 6% was paid.
In 1915,
Dec., 3%.
None
In 1916 and 1917, 6%.
......
Jan., 6%; June. m%
In 1918, Mar., 1*$%; June. \Yx%.
since.
OFFICERS.—V.-P. & Treas., C. D. Meneely; Sec.,
J. H. Bennington;
p. 235. 303. 386; V. 99, p. 1214; V. 106,
924; V. 109, p. 72. 270, 887; V. 110, p. 969.
)
(4) Prospect Park & Coney Island RR.
ORGANIZATION.—In Oct. 1915 the P. S. Comm. auth. the South
Brooklyn Ry. (controlled by B. R. T.) to purchase at $200 per share the
1,768 V* shares owned by the L. I. RR. and the minority holdings from time
to time as offered. V.l 01, p. 1464. Road had been operated under lease at an
annual rental of $45,000.
In consideration of a guaranty by L. I. RR.,
annual int. on the greater part of Prosp. Pk. & O. I.'s bonded debt was re¬
duced from 6 and 7 % to 4 H % • SeeV. 56,p.42;V. 62.p. 187. Alithe2dM.
6s, $202,850 of income 6s and $80,000 of 1st M. 6s are owned by L. I. RR.
Date.
Interest.
iding.
Outstanding.
Maturity.
STOCK AND BONDS—
$250,000
Stock. $100
340,000 Feb
1 1920
4K F-A
Second mortgage, now first] 1886
160.000 Feb
1 1926
6 F-A
($1,000 each)
c*&r 1 1886
96,000 Mar 1 1931
1891
4H g M-S
Third mortgage, now second,]
104.000 Mar 1 1931
6 M-S
gold ($1,000 each)—c*&r| 1891
Comp. Howard Abel.—V. 98,
p.
Interest on above mortgages
payable at office of Treasurer of Penn. RR.,
N. Y. City.
bonds, non-cum
ROAD.—Flmbraces 9.281
Income
250.000 May 1 1920
1880
0 M-N
miles of first track
8.327 m. sidings, &c.; total, 26.007 |miles.
EARNINGS.—Now included In those of B. R.
8-399 m. second track
T.—V. 101, p. 1371.
MANHATTAN BRIDGE THREE-CENT LINE.
ORGANIZATION.—Incorp. In New York. Began operat'g in Sept. '12.
Franchise to operate from Flatbush Ave. (Brooklyn) to Manhattan ap¬
proved by the P. S. Comm. on Aug. 14 1912.—V. 94,p. 912; V. 96.p. 420.
For two decisions handed down by the Appellate Division of the Supreme
the co,, see V. 97, p. 1733.
See also V. 106, p. 1797.
8TOCK.—Authorized, $1,000,000; outstanding, $450,000.
Dividends.—Initial quar. dividend of 1 ^ % paid Mar. 1914 (V. 98. p.523):
same rate quar. to and incl. March 1916.
None to June 1918, when \ M%
was paid.
Same rate has been paid regularly quar. since to and incl
Court favorable to
March 1920.
ROAD.—Operates
4.14
miles of
N. Y., over Manhattan Bridge,
ton St.. Bklyn.
16 cars.
track
from Canal St. and Bowery,
through Flatbush Ave.
Gross
Net
Other Taxes.Rents.
June 30— Earnings. Earnings. Income. Amort.,&c.
lrear end.
extension to Ful¬
Dividends.
Balance.
Sur. or Def
$40,640 $3,513 $30,202
(5)$22.500 def. $8,549
46,118
2,624
24,940 (1X) 5,625 sur. 18,177
42.409
1.655
20,146
— —
sur. 23.918
Total surplus June 30 1919, $12,386.
Passengers carried during 1918-19,
5,917,203, against 5,156,380 in 1917-18 and 5,168,421 in 1916-17.
1918-19—$153,111
1917-18— 134.426
1916-17--- 134.741
RR., the Buffalo Dunkirk & Western RR., the Lake Erie Electric
Co. and the Erie Rapid Transit Co.
Leases the Erie Electric
Erie City Passenger Ry.
Park & Lakeside Street
Motor Co. for 999 years, which company leases the
for 999 years from Oct. 1 1888 and the Erie Rood
March 1 1901.
In 1909 leased the Buffalo &
Lack. Trac. Co. for 999 years (V. 88, p. 1001), but this lease was canceled
in 1919.
However, a new operating agreement with this co. has been made.
Also owns all the outstanding stock of this co., and guarantees the bonds.
Also owm all stock ($750,000, all out) of the Dunkirk Street Ry., which,
company has a franchise in Dunkirk and has built about 5 miles of track.
The Niagara & Erie Power Co. is controlled by the Buff. & Lake Erie
Trac. Co. and the Niagara Lockport & Ontario Power Co. interests, and
its bonds are guar., p., i. & sk. fd., one-half each, by these two companies.
On July 17 1919 applied to the N. Y. P. 8. Comm. for auth. to sell to the
Niagara Lockport & Ontario Power Co. 480 shares of the Niagara & Erie
Power Co.'s stock.
The co. is to transfer to the Niagara & Erie Power Co.
a right of way for an electric transmission line from Athol Springs to Dun¬
kirk, a distance of 34 iniles. &e.
V. 109, p. 887.
In March 1920 we were
informed that this transaction would probably be completed in 1920.
for
Ry.
999 years from
Application to Abandon Portion of Road.—On April 19 1918 the receiver
applied to the N. Y. P. S. Comm. for auth. to abandon the 28 miles of
line between Fredonia and the Pennsylvania State line, unless the company
was
permitted to increase fares.
In December 1918 this petition was
denied by the N. Y. P. S. Comm., which held that in the interest of the
public this line should not be abandoned.
V. 108, p. 77.
On Dec. 10 1918
was auth. to abandon service on a part of the road of the Dunkirk St. Ry.
Co. (leased by the co.), provided the city be given security for the payment
of all taxes and assessments.
V. 107, p. 2476.
The receiver has been authorized by the County Court at Erie, Pa., and
Supreme Court at Buffalo, N. Y., to issue $1,544,200 receiver's certificates
to provide funds for improvements and extensions, of which $1,161,000
were issued and outstanding April 1
1920.
Fare Decision.—In July 1918 the Penn. P. S. Comm. dismissed the com¬
plaints against a fare increase holding that an electric railway may increase
its faro beyond tho 5-cent limit specified in a franchise ordinance when it
Is necessary to do so to obtain enough revenue for operation and mainte¬
nance purposes.
V. 107, p. 500.
Rates.— On Sept. 15 1918 was authorized to increase passenger rate* to
3 eenis per mile and freight rates 25%.
Effective Jan. 27 1919, the New
York P. S. Comm. authorized the company to increase mteiurban fares to
3 cents per mile, the new rate to remain in effect until six months after the
war.
V. 108, p. 267.
Compare V. 107, p. 1191.
This schedule was still
.
,
in effect March 26
1920.
,
Default on Sub. Co.'s Bonds.—See
Buffalo & Lackawanna Trac. Co. below
2d
bonds
Motor Co.
Outstanding.
Maturity.
The $148,000 Erie Elec. Motor Co. 1st mtge. and $102,000
mtge.
due Jan. 1 1919 were retired at maturity; $250,000 Erie Elec.
Ref. 5s being issued in
1st
STOCK AND BONDS—
connection therewith.
Dale.
Interest.
$5,000,000
2,500,000
Common, $5,000,000.
Pref,
5%, $2,500,000.
lst™?d
ref
cumj
mtgo'.'$i2:od6,-r 1900
6 g M-N
7.060.000 Nov 1 1930
,
000, gold ($1.000)
c*tf (Interest at New York Trust Co., Trustee.
t\ M 1st ref sink fund,/ 1901
5 g A-O
1,250.000 Apr 1 1941
$1,250,000, gold ($1,000) A Interest at New York Trust Co., Trustee.
Cannot be called
c*tf( New York City.
Hamburg Ry 1st M, $750,-( 1906
4 g M-N
^745.000 Nov 1 1926
000, gold ($1,000)
tf lint, at Equitable Trust Co. N. Y.. Trustee.
Dun & Fred ref M, $100,000,]
1902
5 g J-J
„39,000 July 1 1952
gold ($100, $500 & $1,000)1 Fidelity Trust Co., Buffalo Trustee.
Niagara & Erie Pow 1st M.f 1911
5 J-J ■
522,000 Jan 1 1941
$1,250,000g($l ,000)gu p&i\ Guaranty Trust Co., New York, Trustee.
Erie
„
«rtL*®LOOO
Receiver's certificates
Bonds.—Of the $12,000,000 new
----------
bonds, $2,034,000 are reserved to
take
like arnt. of underlying liens.
These new bonds are subj. to call on any
interest date at 110 and interest.
The Erie Elec. Motor ref. bonds are
secured by deposit of entire stocks of the Erie City Pass. Ry. and the Erie
Reed Park & Lakeside St. Ry.
A sink. fd. of 1 % ann. on th«?e bds. began
Apr. 1 1906 and was increased to l£% In 1916.
The Hamburg Ry.
bonds are no longer subject to call.
The Dunkirk & Fredonia refunding
mortgage bonds are subject to call on any interest date at 103.
The
Niagara & Erie 1st M. bonds are subj. to call, any or all, on any int. day
at 105.
Sk. fd. from Jan. 1 1916, IV* % of bonds auth.
Bonds are guar.,
p.. I. & sk. fd., by Buff. & Lake Erie Trac. and Niag. Lockp. & Ont.
Power Co.. one-half by each.
V. 92, p. 530.
EARNINGS.—For year end. June 30 1919
Kress earnings, $2,189,466
net, after taxes, $86,266; deficit, after deducting all interest charges (incl.
int. on Buff. & L. E. Trac. 5% bonds), &c., $523,597.
ROAD.—Buffalo, N. Y., to Erie, Pa., and Buffalo, N. Y„ to Hamburg,
N. Y., 98.70 m.; leased lines—Dunkirk (N. Y.) St. Ry., 3.34 m.; Erie (Pa.)
Electric Motor Co., 29.39 m.; Erie (Pa.) & Suburban Ry., 4.21 m.; Buffalo
(N. Y.) & Lackawanna Traction Co .(under new operafc ng agreement;,
4.42 m.—41.36 m.; total, 140.06 m., of which in New York (owned 81.27
m.; leased, 7.76 m.), 89.03 ra., and in Pennsylvania (owned,
17.43 m
leased, 33.60 m.), 51.03 m.
Second track (owned, 15.88 m.; leased, 22.76
m.), 38.64 m.
Sidings, &c. (owned, 6.47 m.; leased,. 4.01 m.), 10.48 m.
Total track operated (owned, 121.04 m.; leased, 68.13 m.), 189.18 miles.
OFFICERS.—Receiver, Geo Bullock; Pres.( vacant) ; Gen. Mgr., A R.
Mvers; Treas. & Asst. Sec., A. F. Tideswell.—V. 107, p. 81, 500, 694,1191.
2475; V. 108, p. 77, 267; V. 109, p. 887.
up a
(1) Buffalo & Lackawanna Traction Co.
.
r>n
Receivership.—In Dec. 1918, upon application of the
Buffalo, Harry Evers was appointed receiver for the co.; this action
the result of a petition of tho Buffalo & Lake Erie Traction Co. for auth.
abandon its lease of the co.'s line.
V. 107, p. 2475.
,
„
City_Trust_Co. of
being
in
Default.—On Dec. 1 1918 the Buffalo & Lake Erie Traction
the payment of int. on the co. s $1,160,000 5% bonds.
V.
JUOMANIZATioNS.—^IncorporatedI In Now York
^XSeTtoTuffK
canceled
in
1919,
.
in June 1900 to furnish
operating under a new agreement.
which $55,000 is outstanding and owned by
Has universal transfers throughout the city
the company now
Stock, $100,000 authorized, of
Buff & Lake Erie Trac. Co.
of Buffalo
to
Co. defaulted
107, p. 2475.
through contract with International
Date.
Interest.
Ry. Co
Outstanding.
Maturity.
gold! 1908
5 gJ-D
$1,160 00(5 Dec 11928
($1,000), guaranteed-.ctf lInterest at New York Trust Co., TrusteeBonds are subject to call at 110 and int.
They have no sink. fund.
Re¬
maining bonds are reserved for betterments and extensions at 85% of cost.
Bonds guar. prin. and int. by Buffalo & Lake Erie Trac. Co.
V. 90, p. 235.
ROAD.—3.90 miles owned and .52 miles leased and used Jointly with
BONDS
I8t
mtgeril.500.000,
Rys. Co.; total, 4.42 miles.
Began operating Dec. 22
OFFICERS.—Pres., M. D. Evans; V.-P., P. C. Schutrum;
Int.
F. Geo. Robinson.—V.
107, p. 2475.
1909.
Sec. & Treas.,
ELECTRIC
18
BUFFALO & DEPEW RY.—A trolley road.
Receivership.- On March 8 1918 Wm. B. Cutter was
;
'
appointed receiver
for the company.
ORGANIZATION.—Incorporated on April 27 1897.
Wm. B. Cutter
Y., owns about three-fourths of the stock and the entire
$360,000 bonds.
STOCK AND BONDS—
Date.
Interest.
Outstanding
Maturity
Stock.$360,000 ($100)
*305.000 ---------Buff k D 1st M, $350.000
1901
5 J-J
350.000 Jan
11931
of Buffalo. N.
.
416,042: net, after taxes
In 1918. gross, ♦19,401; net, after taxes, loss, $19,009.
loss,
ROAD.—Operates a double-track road from Buffalo to Depew,
13.39
EARNINGS.—For cal. year 1J19, gross.
$20,140.
miles of track; 75-lb. rail; 4 cars.
OFFICERS.—Pres.,
B. Cutter; Treas,, R.
Wm.
A. Pilkington; Sec..
Percy Eaton.—V. 79, p. 2696.
ERIE COUNTY TRACTION CORPORATION.—A trolley road.
rc
ORGANIZATION.—Incorp. In N. Y. on Nov. 24 1919 to take over the
_
„
property of the Buffalo Southern Ry. (for history, see "Electric Railway'
Supplement of Nov. 151919/-.
The new company assumed control Jan. 1
1920.
Tne holder of the *600.000 Buffalo Southern Ry. 1 st M. 5s received
for eaOi SI ,000 bond $250 par value of income bonds and $750 stock of the
company.
Fianchts^s petpetual.
Has
trades of the International Traction Co.
new
Interest.
DaU..
STOCK AND BONDS—
trackage rights in Buffalo over¬
Stock, $450.000
1920
6%
$150,000—1920 (when earned;
First mortgage, $100,000
income bonds,
Maturity.
Outstanding.
-
$450,000
100.000
Jan 1 1970
150.000
Jan 1 1950
EARNINGS (of Buffalo Southern Ry. Co.).—For car. year 1919, gross,
$126,318; net, $8,421.
In 1918, gross, $88,843; net. dof., $8,663.
In
1917, gross, $95,699.
ROAD.—Operates from Buffalo to Hamburg, East Hamburg and Orchard
Park, 15K miles: also has a line from Buffalo through Gardenville and
5X miles.
Has trackage rights in Buffalo over
the tracks of the International Traction Co.
An extension to East Aurora,
15 miles, is under construction, 5)4 miles completed.
60-lb. T and 80-lb.
Ebenezer to Lien's Park,
girder rail.
V. 109, p. 2439; V. 110, p. 969.
BUFFALO &
WILLIAMSyiLLE ELECTRIC RY.
ORGANIZATION.—Incorporated In New York July 1 1891.
In May
1904 auth. capital was increased from $75,000 to $3,500,000, and in July
1904 new mtge. for $3,500,000 was made to provide extension to Rochester
In May 1914 Batavia Traction Co. purchased the tracks, rolling stock,
property &c., of this company In Batava
V. 99. p. 269
Fare Increase.—Effective Jan. 29 1920 the company began charging a
7-cent fare from Buffalo to Williamsvllle, by establishing zones.
V. 110, p.
658.
•'
'' v,
.■
'* \
1
.
.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity
($3,500,000 authorized)
$75,000
1st
mtge, $3,500,000, gold/ 1904
5 g J-J
168.500 July 1 1944
($500 and $1,000)_.c#&r*\Int. at City Trust Co., Buffalo, Trustee
Bonds.—Are subject to call on any interest date at 105.
Stock
—
cal.
EARNINGS.—For
$1,503.
year
gross, $40,669; net
In 1917, gross, $95,699.
1919,
In 1918, gross, $88,959.
ROAD.—6.65 miles of track, Buffalo to Williamsvllle.
Gauge 4 ft. 8H
income,
def.
Ralls 85-Ib. T
committee headed by E. C. McDougal is properly
in their [the Buffalo committee's] hands will be
with said committeei.
OFFICERS.—President, L. L. Lewis Jr.; Sec. & Gen. Mgr., Godfrey
Morgan; Treas., L. K. Warnick.—V. 99, p. 269; V. 110, p. 658.
CO.
over
60% of International Traction Co.
ORGANIZATION.—Organized
common
Jan.
on
18
stock.
V. 94, p. 1383.
1899 under N,J. laws and
acquired all the electric railways connecting the cities of Buffalo Niagara
Falls, Lock port. North Tonawanda and Tonawanda, together with all the
street railway systems in all of said cities: also the electric railway connecting
the villages of Depew and Lancaster with Buffalo.
It also acquired the
Canadian Electric Railway, traversing the entire length of the Queen Vic¬
toria Niagara Falls Park and connected it with the American system by the
acquisition of the steel arch bridge at Niagara Falls and the Suspension
Bridge between Queenstown
equipped with trolley tracks.
and
Lewiston, which bridges have been
Owns entire stock and $4,984,500 bonds of
the International Ry Co.
Has traffic agreement with Niagara Gorge RR
for the operation of cars over the latter's 8-mile line
Contract runs to 1941.
In June 1917, purchased the Queenstown Coal Co: of East Brady, Pa., for
.
$160,000 in the interest of the United Gas & Elec. Corp.
V. 104. p. 2641.
In Dec. 1912 the Pub. Serv. Comm. approved the reorganization plan,
calling for exchange of old coll. trust 4s, $ for $, for new col. trust 4s of
Internat. Trac. Co. due July 1 1949, and limiting the issue to $18,335,000 Instead of the $30,000,000 proposed.
V. 96, p. 63.
The few remaining
bonds of 1890 which
did
noc
July 1 1913 at 110 and int.
assent
V. 96,
to
p.
plan
1021.
were
called tor payment on
New Preferred Stock.—On Oct. 16 1915 company filed an amendment to
Its charter permitting the consummation of tne plan (V. 101. p. 527) for
the $5,000,000 4% cum. pref. stock, with accumulated
dlvs
(42%) by an Issue of new 7% cum. pref. stock, share for share.
was so exchanged and in June 1916 the accumulated
dlvs. (42%) on the unexchanged stock were paid In cash.
V. 102. p. 2166.
In April 1916 issued $1,050,000 Serial 6% secured gold notes to retire
floating debt and pay the accumulated dlvs. on the old 4% pref. stock un¬
exchanged.
retiring
thereon
$4,468,600 of the stock
New Line.—The P. S. Comm. has auth. the sale of $3,870,000 Interna'
tlonal Ry. ref. and Impt. 5% bonds, of which $3,642,000 have been Issuedto provide for the construction and
equip, of the high-speed interurban line
from Buffalo through Tonawanda ana North Tonawanaa to Niagara Falls,
16 miles, over private right of way.
V. 103. p. 1032; see also V. 107, p. 696.
Fares.—On Nov. 30 1919 the company
put into effect, with tile P. S.
Commission's approval, a 7-cent fare, tickets being sold at 5M cents.
These rates are to continue in effect for 6 nionths.
V. 109,
p.
1986; see
also V. 109, p. 2172.
page
Compare "Electric Railway" Section of Nov. 15 1919,
17, under caption "Fares and Wages."
I
Important Rate Decision.—See V. 109,
p.
370.
„
.
,
Date.
Interest.
Outstanding.
Maturity,
common, $10.000.000.
$10,000,000
See text
7% cum $£,000,000
Q-M
4.46S.600 Mar 20. IX
Pref 4% cum
Q-M
531,400 Mar 20. 1%
Coll trust. $18.335.000
/1912
4 J-J
16.399.000 Jq£ 11949
t Guaranty Trust Co.. New York. Trustee.
Serial debenture notes, $500,- f 1913
6 F-A
250,000
See text
000 ($1,000), gold..
cMnt. at Chase Nat, Bank. N. Y., or Fidelity
[ Trust Co. of Buffalo, Trustee.
Coil trust gold notes, $5,000,-1 1917
6 g F-A
2.000.000 Aug 1 1920
000 ($1,000)
c*/
Int. at Bankers Tr. Co., N. Y.. Trustee.
STOCK AND BONDS—
Stock,
^
Pref
Bonds and
Notes.—$18,335,000 coll. trust bonds were Issued, but $1.940,re-acquired, of which $1,634,000 were pledged as collateral to
6% secured notes (but see under "Default
above).
The deben¬
ture notes of 1913 mature $50,000 annually beginning Feb. 1 1914.
$250,000 have been retired.
Callable at 100 & int. on any int. date.
Coll.
trust notes of 1917 are callable at 100H and int. on any int. date.
Secured
by deposit of $2,667,000 Int. Ry, Ref. & Impt. Mtge. 5% gold bonds.
Co. pays normal Federal income tax to not exceeding 4%.
V. 105, p. 497.
000 have been
the Serial
Dividends.—First div, of 2% on old 4% pref stock was paid Feb. 1 19131
an additional 4% on account of accumulated dlvs.; July
2% and 2%
In 1914, Feb., 2% and 2% add'l; July, 2%.
In 1915. Feb., 2%;
also
add'l.
In Oct. 1915 new 7% pref. stock was offered In exchange for
accum. divs. thereon.
All but $531,400 of the stock was so
exchanged and in June 1916 the 42% aCcum. dlvs. on unexchanged stock
were paid in cash.
4% was paid regularly on the old pref. stock to and incl.
April 1918; none since.
New 7% pref. stock is cumulative from Nov. 15
1915, and a div. of U% was paid thereon Jan. 15 1916: in March 1916 paid
IX% and same rate quar. to and incl. April 1918.
None since.
Initial
quar. div. on com.—IX%—Paid June 30 1916; Sept. ,1%; Dec., 1)4%.
In 1917, March, 1%; June, 1%; Oct., 1%.
Jan. 1918 dividend passed.
July, 2%.
old stock with
Franchises.—Nearly four-fifths of the mileage in Buffalo, including all the
important lines, is maintained, it is stated, under franchises in per¬
most
petuity or upon property directly owned, only 47 miles of minor trackage
Being operated under franchises having less than 25 years [from 19161 to1
The franchises of the lines outside of Buffalo
are
either for various
long-term periods or are without time limit,
Consolidation of Constituent Companies.—On
tional
The United Gas & Electric Corp. (see statement under New York) owns
modified, all the bonds
immediately deposited
V. 108, p.
578.
t
•
Sale of Collateral.—Default having been made in the payment of int. due
aan. 1 1919 on the coll. trust 4% bonds and default having been made in the
payment of principal of said bonds, which by declaration became due April
23 1919, notice was given in April 1919 that the Guaranty Trust- Co. of
N. Y., as trustee, would offer for sale at public auction on May 28 1919,
ail the securities pledged under the indenture as follows: (1) $16,707,500
capital stock of International Ry.; (2) $60,000 Tonawanda St. RR. 1st 6s:
(3) $518,000 Niagara Falls & Suspension Bridge Ry. 1st 6s: (4) $22,500
Niagara Falls Whirlpool & Northern Ry. 1st 6s; (5) $40,000 Tonawanda
Electric RR. 6% bonds; (6) $4,344,000 International Ry.. ref. impt. 5s.
These securities were offered for sale in one lot and as an entirety, and after
various postponements were sold to the bondholders* committee (see above)
on Nov. 28 1919 for $2,000,000.
V. i09, p. 2172.
^
On April
1 1919 the company defaulted on the payment of.$100.000
principal and also the interest on all of the outstanding serial 6% secured
notes dated April 1 1916.
On July 16 1919 the $1,634.000.coll. trust 4s
pledged thereunder, were sold at public auction to the protective committee
(see above—V. 108. p. 2122) for $300,000.
V. 109. p. 270.
We have
eliminated the serial 6% notes from the table below.
Reorganization.—Bee V. 109, p. 1891.
run.
inches.
INTERNATIONAL TRACTION
[VOL. 110.
RAILWAYS
Feb. 20
1902 the Interna¬
Rajllway Company was incorporated in New York with $10,120,500
stock, and In Aug. 1902 this was increased to $17,000,000, of which $16.707.600 has been Issued (all owned by the International Traction Co.). as a
consolidation of the following companies, whose shares bad previously been
held by the Traction Co : V 74. p 427.
Buffalo Railway Co. (after Buffalo Traction and Buffalo Bellevue A
Lancaster had first been merged in the same).
Buffalo & Niagara PalJs Electric Railway.
Buffalo A
Lockport Railway (after Elmwood Ave. and Touawanda Elec¬
tric Railway had
been merged).
Buffalo Tonawanda & Niagara Falls Electric RR. Co.
Lockport & Olcott Railway.
Niagara Falls & Suspension Bridge Railway (after the Niagara Falls
Whirlpool & Northern Ry. had been merged In It).
Niagara Falls Suspension Bridge Co.
On July 1 1902 the International Ry. Co. acquired by
purchase the
Niagara Fails Park & River Ry., the Clifton Suspension Bridge Co..the
Lewiston Connect. Bridge Co. and Queenston Heights Bridge Co. aad In
Dec. 1912 merged the Electric City Ry.
In April 1913 the Orosstown
St. Ry. was also merged, thus leaving the International Railway Co the sole
operating company and the International Trac. Co. the holding company.
Liens of Constituent and Owned Companies,
BONDS—
Date.
Interest.
Outstanding/
Maturity.
Ry ref & Imp mtge) 1912
5 g M-N
$16,662,000 Nov 1 1962
$60,000,000. gold
c*&rJBankers Trust Co., New York. Trustee.
Buffalo
Ry
1st
con
mtgef 1891
5 g F-A
6.000,000 Feb 1
1931
($1,000) $5,000.000,g, c*&r( Int. at Co.'s office, Buff., E.W. Clark & Co.,
Phila., or Bankers Tr. Co., N. Y.. Trustee.
jTonawanda St RR 1st M.
1892
6 J-J
60.000 July 1 1922
Interest at company's office, Buffalo.
(closed)..!
iTonawanda Electric RR 1st
1895
6 A-0
40.000 April 1 1927
.Interest at company's office, Buffalo.
mtge-.
ftOrosstown St Ry 1st mtge. gl
1892
5 g M-N
62.974.000 May 1 1932
(closed) gu p &
c*/Int. at Metropolitan Tr. Co., N. Y., Trustee.
Buffalo Traction
1st mtge, ( .1898
5 g J-D
673,000 Dec 1 1948
(closed)
lint, at Metropolitan Tr. Co., N Y., Trustee.
Buffalo Bellevde & Lancaster)
1897
5 J-D
215.000 June 1 1927
mtge (redeemable at par).[Int. at Buffalo Trust Co., Buffalo.
Buff & Nlag Falls Elec Ry— V 1895
5 g J-J
750.000 July 1 1935
1st M. $750,000. gold....c Interest at Bankers Trust Co., New York.
- Buffalo A Lockport 1st mtge.
1898
5 g. J-J
500.000 July 1 1938
gold. $500,000..
Equitable Trust Co., New York, Trustee.
1900
5 g J-J
Lockport A Olcott Ry
1st
800,000 July 1 1920
mortgage
(closed),
gold Int. at Guaranty Tr. Co., N. Y., Trus.; also
at Buffalo. Guar., p. & I., by Inter. Trac.
($1,000) ^
c*
1897
Niagara
Falls
Suspension
5_g J-J
300,000 Jan 1 1928
Bridge, Clifton Suspension Toronto General Trusts Corp., Trustee.
Int. at American Exch. Nat. Bank. N. Y.
Bridge
Lewiston Connecting Bridge
1898
5 g A-O
125.000 Oct 1
1928
Co.
Queenston
Heights Toronto General Trusts Corp., Trustee.
Int. at American Exch. Nat
Bridge Co
Bank, N. Y.
1893
6 J-J
aNlagFalls A Susp Bridge Ry
518.000 July 1 1923
a Nlag Falls Whirlpool A No
Ry 1894
5
22)500 July 1 1923
Real estate bonds and mort- f
6 M-N
250,000
*1919
gages.....
\Int. at Fargo & Gary Estate. Buffalo.
Real estate bonds and mfcgos
A-O
30,000
1921
intermit
_
Interest Payments—Default. &c.—Because of a 24 days' strike (V. 107. p.
a subsequent increase in wages the Nov. 1 1918 interest on the
International Ry. Ref. & Impt. Mtge. bonds was not paid until Jan. 1919
1837) and
(V. 108. p. 480).
Compare V. 107. p. 1837. The May 1 1919 interest on
was paid, with interest thereon up to July 29 1919.
V. 109. p.
The interest due Feb. 1 and Aug. 1 1919 on the 3-year 6% notes,
dated Aug. 1 1917, was paid, together with interest at 6% upon each of the
above interest installments from its respective due date to and including
Sept. 2 1919.
V. 109, p. 776.
The following committees have called for deposits:
these bonds
477.
Committee for Ref.
& Impt. Mtge. 5s.—Chairman. Chas. W. Beall,
Francis E. Frothingham, Arthur Perry, Richard B. Young; Sec., Raymond
Spellman, 61 Bway, N. Y. City.
V. 107. p. 2188, 2476.
Depositary, Bankers Trust Co., N. Y.
Committee for
6% Serial Secured Notes.—Chairman, Geo. H. Reilly;
A. A. Jackson, R. M. Stinson; Sec., J. M. Johnson, Phila.
Depositary,
Girard Trust Co.. Phila.
V. 108, p. 2122; V, 109, p. 270.
Committee for Collateral Trust 4s.—Chairman, Elliott O. McDougall;
Jacob Gould Schurman, Thos. Dewitt Cuyler, R. Walter
Leigh, Thos. E.
Mitten and A. F. Halstead, Sec., 62 Cedar St., N. Y. City.
Depositary,
Guaranty Trust Co.
V. 108. p. 268, 1610.
On April 10 1919 this com¬
75% in amount of all bonds issued had been
mittee announced that over
deposited with it.
Buffalo Committee for Coll. Trust 4s.—Chairman H. T. Ramsdell, Wm. H.
Crosby, J. C. Dann, Charles R. Huntley, John H. Lascelles and L. P.
Williams, Sec., 284 Main St., Buffalo, N. Y."Depositary, Manufacturers
& Traders National Bank, Buffalo.
V. 108, p. 578.
pa The last-named committee, in a circular says in brief: The deposit agree¬
ment of the (McDougall) committee, dated Dec. 10 1918, fails to limit the
expenses of the committee for the compensation of itself and legal counsel,
and also prevents any depositor from withdrawing, unless
30% of the depos¬
ited ibonds fde written objections to the plan adopted by that committee.
The^Buffalo committee has stated that if the deposit agreement of the
_
a
All owned by International Traction Co.
$350,000 owned by International Railway Co.
At last accounts no definite date had been set as to
b Of this
x
allowed to
remain
extension, but
for the present.
ZZpt tbe International Ry. refunding and
improvement bonds.
$10,991,500 are reserved to retire prior lien bonds and $2,667,000 are pledged
as security for the notes of 1917;
remaining bonds may be issued only for
add ns, lmpts., Ac., with consent .of the P. S. Comm.
Coup, bonds in
denom. of $1,000 and reg. bonds of $1,000 and
multiples.
Red. on any int.
date at 110 and Int.
Int. payable at office or
agency of the company in
New York.
Exempt from N. Y. State, county and municipal taxes.
Sk.
fd. began in 1912 and will provide by Jul> 1 1949 sufficient funds to retire
all except $641.000 of the outstanding
underlying bonds to a total par value
of $12,641,500.
The bonds are secured by a 1st M. on about 43 miles of
i
«V*
*?• ®n Buffalo) and by a mtge.
to divisional bonds.
on remaining property, subj.
They will also be a 1st M. on the new line between
Buffalo and Niagara Falls.
V 96. p. 62; V. 103. p. 1032.
The Tonawanda
Elec. RR. 1st 4s due originally on Apr. 1
1907. were extended as 4s to Apr. 1
1917 and In 1917 again extonded to April 1 1927 at 6%.
The Niag. Falls
A Suspen. Bdge. Ry. bdsi of 1893 and
Nlag. Falls A Whirlpool Nor
bonds
of 1894 given in the table above matured In
1903. but were acquired by the
International Traction Co. and extended ten
years, and then deposited with
the Guaranty Trust Co. of New York as additional
security under the
International Traction Co. collateral
,trust mortgage.
These were again
1920.
APR.
ELECTRIC RAILWAYS
J
extended, maturity now being July 1 1923 and bearing Interest at 6%.
All
the outstanding stock and $4,344,000 ref. & impt. 6s of the Internat.
Ry.,
$60,000 Tonawanda St. Ry. 1st 6s, $40,000 bonds of Tonawanda Elec. RR.,
$518,000 bonds of the Niagara Falls & Suspension Bridge and $22,500 bonds
of the Niagara Fails Whirlpool & Northern are pledged as security for the
Inter national Traction collateral trust loan.
Operating
$7,502,776
$5,912,848
531.023
expenses
Taxes
Operating income
$8,255,279
$4,765,267
637,890
$1,058,905
Int.,1 rents, sink. fds.,&c.$2,213,163
Renewals, &c„, reserve—
7% pref. stock dividend.
4% preferred dividends—
Common
$115,608
78,200
5,315
dividends.....
$7,818,677
$4,030,282
535,156
$2,852,122
$3,253,240
$1,901,700
$1,882,709
$293,323
.$522,708
312,802
312,452
21,256
21,456
(3%)300,000(414)425,000
Balance, surplus—_def.$1,353,381
$23,041
STREET
RAILWAY.—A
$50,000 com.
and
$50,000
mortgage, 1910 (ntf), 5s, J-J, $100,000 due July 1 1930.
—
OFFICERS.—Pres.,
Benjamin Y. Curran;
IOWA.
LIGHT
CO.
ORGANIZATION.—Incorp. In 1912 In Delaware and acquired the Peo¬
ple's Gas &
Co.
Elec.
and old
Burlington Ry. & Light Co. Does entire
municipal and commercial electric lighting aud power business In Burling¬
ton, Delta, Martinsburg, Fremont, Mediapolis, Wapello, What Cheer,
West Burlington, Sigourney, Hedrick, Thornburg, Winfield, Milton and
Morning Sun, all in Iowa.
Also owns steam-heating and gas plants.
Railway franchises are perpetual, except for two suburban extensions of
minor importance.
Lighting franchises in Burlington expire in 1927.
STOCKS AND BONDS—
Common. $3.000.000
Preferred $2,000.000 6% cum
First mortgage, $7,500,000. gl
Outstanding.
$1,500,000
-
Maturity.
6 J-J
1.000.000
1912
5 M-9
1.738.000 Mar 1 1932
Int. at Eault. Tr. Co.. N. Y., Trustee^
.
($1,000) sinking fd
Bonds.— Remaining bonds
Interest
Date
$5,996
6.072
5,791
8,773
2,500
333
2,500
482
Gen.
Mgr.
CANTON, MASS.
BLUE
HILL
STREET
RAILWAY.—A trolley road
&c.—In March 1920 George Spalding,
Operations Suspended—Receiver,
receiver for the company, announced that
he would have one road sold for junk.
formation.
operations having beon suspended
V. 110, p. 1288.
No further in¬
New Control.—On Nov. 11917 Micliael A. Cavanaugh of
Roxbury. Mass.,
purchased the holdings of Stone & Webster (former Managers).
Fares.—On Dec. 15 1918 the
and in 3
zones
co.
iqcreased rates in
one
zone
to 8 cents
to 7 cents, fares in all other zones
being raised 1 cent.
Com¬
1836.
The receiver in February, 1920, filed a schedule
effective March 1 1920 increasing fares to 7 cents.—V.
110, p. 560.
V.
pare
107, 0.
STOCK AND BONDS—
Stock, $300,000 ($100)
First mortgage. $500,000.
gold
as
Date.
Outstanding,
Maturity.
$300,000
/ 1903
\Int.
whole at
a
Interest.
5 g A-O
259,000
Oct 1 1923
at Old Colony Trust Co., Boston. Trus.
115 and int.
Non-taxable In Mass.
EARNINGS.—For years ending Doc. 31:
Year—
Gross.
Exp.&Taxes.
Net.
1918
$78,304
$82,381
def .$4,077
1917
88.474
81,518
6,956
—
-
Int.,&c.
$21,156
21,498
Deficit.
$25,233
14,542
ROAD.—Operates 19.7 miles of track from Mattapan, where connection
the Boston Elevated Ry., to Canton and Stoughton, at which
point It connects with the Bristol & Norfolk Street Rv. and the Bay
State-Street Ry.
Standard gauge.
24 cars and 2 snow plows.
Franchise
la made with
latter
perpetual.
Power station capacity, 487 k.w.: also purchases power from
Bay State Street -Ry.
Operatos the Sharon & Norwood St. RRt for the
citizens of Sharon, for the cost of motorman, conductor and a
given aihount
per mile.
V. 109, p. 171.
OFFICERS.—Pres. and Gen. Mgr., Michael A. Oavanaugh; V.-P. and
-
—
ending June 30:
lnl.&Tax. Divs. BaL.Sur,
$2,000
$930
$8,927
8,905
George A. Curran;
Sec.. Treas. &
Supt.. C. F. Pray; all of Calais, Me.
.
&
first
ROAD.—Calais Street Ry., lower wharf to upper bridge. Calais, 4 miles;
St. Stephen Electric Ry., MUltown, N. B.. to St.
Stephen. N. B., 3 miles;
total, 7 miles.
The St.
Stephen Electric Street Ry Is a separate corpora¬
tion, but is owned entirely by the Calais company.
9 cars.
Bonds.—Callable
RAILWAY
years
Net.
$43,154
41,926
42,411
1917-18
1916-17
.
BURLINOTON
and
Oross.
year 1918
pref.;
$453,837
Earnings of International Traction Co. for cal. year 1918* Income from
International Ry. stock, $83,538: other income, $441,157 total income,
$524,695; surplus applicable for note interest, none.
ROAD.&c.—Length of line. 245 833 miles (owned 220.990; leased, 18.196.
trackage, 6.647); total miles of track, Incl. second track, crossovers, sid¬
ings, &c., 436 miles.
Gauge, 4 ft. 8H
Rail (steel), 45 to 145 lbs
1,143 cars, of all classes, including 955 passenger cars.
Greater part of
electrical energy used is purchased from the Niagara Falls Power Co. and
its allied co
the Buffalo General Electric Co.
OFFICERS of International Railway Co.—Pres
V.-P., E. J. Dickson; V.-P. & Gen. Counsel, Thomas Penney; Sec., N. N.
Oille; Treas., P. O. Reinhardt; Aud., Charles A. Chavel.
OFFICERS of International Traction Co.—Pres.,
V.-Ps., Rodman E. Griscom and A. P. Forbes; Sec., N. N. Oille; Treas.
P. C. Reinhardt; Aud., Chas. A. Chavel.—Y. 109, p. 577, 776. 888, 1461,
1610, 1700, 1891, 1986, 2172; V. 110, p. 261, 561.
BURLINGTON,
1918
year
Fiscal Yew—
$2,933,946
$1,866,960
$396,582
38,657
177,910
I
trolley road
ORGANIZATION.—Stock.
Calendar
$6,839,974
$3,480,543
425,484
$108,914
CALAIS, ME.
CALAIS
REPORT.—Calendar
REPORT.—For year ending Dec 31 (1917 report in V. 107. p. 398):
1918.
1917.
1916.
1915.
Total income
19
Treas., Ray C. Cavanaugh; Clerk. Jamas P. Dunn, Taunton. Mass.—
V. 106, p. 85: V. 107, p. 1836; V. 109, p. 171; V. 110,
p. 560, 1288.
for additions, betterments or extensions,
Callable at 105 and lot, on any
Sinking fund of 5% of gross earnings began
are
under certain restrictions, at 80% of cost.
Int. day
on
July 1914,
3 months' notice.
V. 95. p 678.
EARNINGS.—For years ending Dec.
1917.
1916.
Gross revenue—_$431.580
Net (after taxes)
176.124
ROAD.—Owns
and Its
suburbs.
and
1915.
$427,285
186,703
about 23
operates
85-Ib. T rail,
66 to
OFFICERS.—l*res., Geo. H.
CAPE
1914.
$405,352
182,508
miles
of
62
passenger
1913.
$400,818
182,373
track
in
$366,614
177,349
Burlington
In Dec. 1917 the U. S. Navy took over the physical properties of this co.
and of the Ocean St. Passenger Ry., extending from Cape May Point to
Sewell's Point, 7
April 1917.
„
■■■
CEDAR
■■■
IOWA
BURLINGTON,
BURLINGTON
TRACTION
BONDS—
Interest.
1912
Bonds —The remaining $150,000 bonds can only
sion of Public Service Commission.
Dividends.—Previous
to 1903. 4%
In 1912. 1913 and 1914. «<%.
yearly.
and
Maturity.
$200,000 Nov.'18.2&
350.000
1942
be issued with permis¬
yearly.
From 1903 to 1912, 6%
In 1915, Feb., 2%; May, 2H%i
same rate
quar. since to and incl. Nov. 1918.
Year ending June 30—
Gross..
I
Net.
Charges.
1917-18
$153,947
'$61,371 $17,500
1916-17
152,261
61,434
17,500
1915-16
*
—.
147.690
62.435
17.500
Divs.
$20,000
20,000
20,000
Surplus
$23,871
23,934
24.935
Latest
Earnings.—6 mos. ending Dec. 31 1918:
1918..S77.639
$17,777
$8,750
$10,000 def.$973
ROAD.—Owns 12 miles of track in city of Burlington.
Rails 60, 70
and 75-lb. T.
Owns 14 closed cars, 17 open cars, 2 convertible cars, 2 snow
plows. 1 sweeper.
OFFICERS.—Pres.. Ellas Lyman; V -P. & Treas.. Jno. J. Flynn; Sec..
O. W. Brownell.—V. 94, p. 1185; V. 109. p. 676. 981.
6
mos.
end. Dec. 31
BUTLER, PA.
BUTLER
RAILWAYS CO.
STOCK AND BONDS.—
Stock
$300,000 ($50)
First mortgage $300,000 gold
($500 & $1,000)—c*&r.tf
Interest.
Date.
Outstanding.
Maturity.
$250,000
250.000 Jan
1 1948
Int. payable at Butler Co. Trust Co., trustee.
Butler, Pa.
5 g J-J
Bonds.—Not subject to call and no sink. fd.
Rail (girder, except
ROAD.—Operates 13.28 miles of track in Butler.
2H miles T), 65-1 bs.
Gauge, 5 ft. 2 in.
OFFICERS.—Pres., Ferd. Reiber; V.-P., J. V. Ritts; Sec.-Treas. and
Gen. Mgr., R. E. Sprenkle.
BUTTE, MONT.
BUTTE
ELECTRIC RAILWAY.—Trolley
j
'
was incorporated In West Virginia in December 1899 as
•accessor or the
Butte Consolidated Ry.. sold at foreclosure.
Interest due on Mar. 1 1915 was paid Sept. I 1915 and subsequent cou¬
pons due March 1 and Sept. 1 1915 and March 1 19)6 were paid 6 month?
after they became due.
Subsequent coupons paid when due up to and incl.
Sept. 1918. Reports state that the March 1 1919 int. was not paid when due.
V. 108. p. 1822.
Strike Settlement—Wages.—V. 107, p. 694.
Fares.—In Aug. 1919 was auth. by the Montana P. S. Comm. to Increase
fares from 6 to 7 cents.
V. 109. p. 676.
This
company
STOCK AND
BONDS—
Date,
i
Interest
Outstanding.
Maturity.
8tock, $1,000,000 (par $100).
1 M-N
Si .000.000 Oct 06. 2%
1st M. $900,000. gold. $1,000/
1900
6 g M S
900.000 Mar 1 1926
each
c*cptUnterest at W
A
Clark & Bro., Butte
Bonds.—May be called for payment on Mar. 1 1915, or on any Interest
day thereafter.
Sinking fund of 10% par value of bonds began Mar. 1 1916
Dividends.—In 1905. 4%: In 1906. May. 2%; Oct. 2%: none since.
EARNINGS.—For cal. year 1919 and years ending June 30:
Year—
Gross.
Net (aft. Taxes)
Depr'n.
Interest.
Balance.
1919
$700,321
$17,979
$60,784
$45,000
def .$87,805
1917-18
700.866
132,523
53.75S
44,667
sur.34.097
1916-17
722,357
1 06,097
51,435
42.687
sur.11,974
Passengers carried in 1919, 13,486.733.
■
ROAD.—Operates 39.0857 miles of track.
56-60-80-85-90-1b.
T rails.
61 passenger and 4 work cars.
OFFICERS.—Pres., W. A Clark. Butte; V.-P ,W. A. Clark, Jr.; Sec. S.
Trens.. J. H. Anderson, 20 Exchange Place, N. Y.—V. 108, 1822; V. 109.
p.
676.
•
re-lncorp. In 1912 of the Cedar Rapids <k Iowa
STOCK AND
BONDS—
Dale.
Interest.
Outstanding.
Common $3.000.000
$1,700,000
Pref, $5,000,000, 7% cum
Maturity.
Sf^e text
Q-M
5 g J-D
3.709,054 Mar '20, If
Ced Rap & Iowa City R & Lf 1903
188 000 June 1 19__
1st M $2,000,000 gold ($1,-1 Illinois Tr. & Sav. Bk.. Chicago, co-trustee.
000)
c* tf (
Int. at Harris Tr. & Sav. Bank, Chicago.
1st & ref mtge $10,000,000 g/ 1912
5 M-S
5.460,000 Sept. 1 1932
($500 and $1,000)
c*tflHarris Tr. & Sav. Bank. Chicago., trustee.
2-year coll notes $2,000.0001 1919
6 F-A 15
731.500 Aug 15 1921
($500 and $1.000)
c*.tf/Harris Trust & Sav. Bank, Chicago, trustee.
Bonds.—Of the remaining 1st & ref. bonds. $188,000 are reserved for
lien, $950,000
bonds
are
prior
are pledged as security for the 2-year notes and remaining
for extensions and additions at 80% of cost for acquisitions, &c.,
Subject to call on any interest date at 103 and
under certain restrictions.
--------
1918
a
City Ry. & Lt. Co. and has acquired the properties formerly owned by the
following companies
Belle Plaine Elec. Co.
| VTarshallfcown Lt.. Power & Ry. Co.
Boone Electric Co.
i Nevada (Iowa; Electric Co
Cedar Rap. & fowaOy. Ry. & Lt.Co.lPerry Elec. Lt., Pow. & Heat Co.
Marion Light. Heat & Power Co.
jTama & Toledo Electrie Power Co
Owns and operatos entire electric light and power properties in Cedar
Rapids, Marshalltown, Boone, Marion, Perry, Belle Plaine, Blairstown.
Chelsea, Tama, Toledo and Nevada, and supplies more than 50 towns
through its high-tension lines; interurban road between Cedar Rapids and
Iowa
City ana Cedar Rapids, Lisbon and Mount Vernon; the local street
railways in Marshalltown and Boone; the gas plant in Marshalltown and
the heating properties in Cedar Rapids, Boone, Marion and
Perry.
Inter¬
urban road is on private right of way.
Also does a freight business, ex¬
changing freight with four steam roads.
•
Has a contract with the Iowa Electric Co. (V. 100, p. 2171) an allied
company, for the Interchange of power.
...
ORGANIZATION.—Incorp. July 1
1917 In
Penn. as successor to
the Butler Passenger Ry., the City Division of the Pittsburgh & Butler
Ry. (the Interurban Division of which was sold under foreclosure May 9
1917—see Pitts. Mars & Butler Ry., successor co., under Pittsburgh).
The property of the Butler Pass. Ry. was taken over by the holders of
$500,000 1st mtge. 5% bonds due 1936 and reorganized.
RAPIDS, IOWA.
RAILWAY & LIGHT CO
ORGANIZATION.— Is
Outstanding
Q-F
5%
-
bonds. $500,000— -tf
VT.
CO.
Date.
Stock. $200,000 (par $100)
30-year
miles, which had been sold for junk atireceiver's sale in
V. 105, p. 1616. 2271.
cars
Rlgbee; V.-Ps., E. O. Walsh and M. A
Gen. Mgr., C. H. Walsh.—V. 108, p.
Walsh; Sec. & Treas., J. W. Walsh:
2240.
STOCK AND
MAY, N. J.
CAPE MAY DELAWARE BAY & SEWELL'S POINT RAILROAD.
31:
interest.
Sinking fund 1% per annum of bonds out. Mar. 1 1916 to 1921;
1922 to 1926, 2%; 1927 to 1931, 3%.
Sinking fund to be used for re¬
demption of bonds or for extensions and betterments.
V. 95, p. 750.
Notes are callable in lots of $100,000 or more on 30 days' notice at 101
and interest prior to August 15 1920 and at 100 lA and interest there¬
after.
Interest
is
payable in New York or Chiacgo.
Secured
by
pledge of $950,000 1st & Ref. Mtge. bonds, the notes being Issued on the
basis of 77% of the face value of bonds pledged.
Remaining notes may be
Issued as add'l 1st & Ref. Mtge. bonds are pledged in the foregoing ratio.
On Ced. Rap. & Iowa City Ry. & Lt. 1st M. a sinking fund began April
1 1908 and bonds are
subject to call at 107H & Int. See V. 77, p. 2279.
Dividends.—7% is being paid on pref. stock.
On common, in 1911 to
1914, 2% per annum.
In 1915, 4%; in 1916 and 1917 at the rate of 6%
per annum.
In 1918, K of 1%,
Nonesince.
EARNINGS.—Of combined properties year ending
Dec.
31
1919,
gross, $2,375,253; net, after oper. exp., taxes, maint. and renewals, $531,591; annual Int. charge (incl. notes), $309,609.
ROAD.—Operates an interurban road 45M miles long on private rightof-way substantially! 100 ft. wide between Cedar Rapids, Iowa City and
Lisbon: also local street railways In Marshalltown. Boone and Cedar Rapids.
42 passenger cars, 30 freight; misc.. 9; total, 81 cars.
Capacity of power
plants, 34,500 h. p.
In the fall of 1917 completed the installation of a
2.000 k. w. automatically controlled hydro-electric plant at Cedar Rapids,
the first of its kind to be put in operation.
The company is now installing
a 10,000 K. V. A. steam turbo generator at Cedar Rapids.
OFFICERS.—Presl., William G. Dows; V.-P. Treas..and Isaac B. Smith,
V.-P.. John A. Reed; Sec., C.S. Woodward; Gen. Mgr., S. O. Dows, all
of Cedar Rapids.—V. 103. p. 1508; V. 105, p. 716, 818; V.
106, p. 602;
V.
109, p. 776.
CEDAPwBURG,
MILWAUKEE NORTHERN
WIS.
RY.—An electric road.
"
ORGANIZATION.—incorporated in Wisconsin In 1905.
Operates in¬
terurban system entirely on private right-of-way.
All franchises were
superseded by perpetual rights under indeterminate permits in 1919 and the
rates ot fare are now solely within the jurisdiction of the Wisconsin
R. R.
Commission.
Enters Sheboygan over tracks of
Sheboygan Electric Co.
under perpetual contract.
Fare Increase.—In July 1918 increased rates from 8 tickets for
25 cents
to 6 tickets for 25 cents for the duration of the war.
V. 107, p. 82.
ELECTRIC
20
[VOL. 110.
RAILWAYS
w
O
_
VALLEY JCT.
Harvard
(IOWA)
o
Wttukegan &
Galen i
Rockfoid
WInneoago
Freeport'
COLFAX
(IOWA)
Savanna
o
00«%
°Polo
DeKalb^
NEW SHARON
(IOWA)
Dixon
,
Sterling,,
o
t/
.
V
^o> V.
~~
South
MONTEZUMA
o>
^
Mendota
V
\\%
(IOWA)
o
-
.
'
-
O
«4
I Thornton
3
Gieijwood
°j V
a
{ Crete"
} Goodenow
h
^
!
GtantJ Park
momence!
A.'.'":,
■
*
•'.
Fontiae
V.O ""SI
o
r—^
o lw^
I
o*
l'i its
Forrest
<3>
'? *->C
Knoxville
,
(IOWA)
Hopedale
Prairie City
DES MOINES
Hendrix
B1
Richmond
(IOWA)
°Havana
"Ho
'
Wapella
LINCOLN^
OSKALOOSA
JSangam^^-^y^
%
o
Beardstown
Petersburg0
(NEB.)
.:
y,
v,
■.
Broatiwel
0>
t?
a
❖
Roodhouse
F'/V0
Jerseyville
Benld
^
«
p
Norton
{"reek
Coxville
% PKosedale
0 1 COAL BLUFF
llocan
..
JadksonlS.'€1 Alton
1 I Beech
f
o
<u
▼
<9-
lp>A>
^
OTTEH
Harpers
CREEK JC
<0-
Lane
Ellsworth
J i Clarksburg
gp
Compton
Lan#
Evans
<^'rt Baxter Jlatto«n
J A
\<
,oj
q
' «
Dewey
! Mode
TERRE
brazil
e.^7
HAUT^
Kureka
i
IVatson
>
fd
Grovt
JlcClelland
Lvford
Heelers
M
(KANSAS)
c'^
^
Gillespie
ATCHISON
Vo
-
"
Kilwood B
CARLINVILLE
l Mecca
Hillsdalo*.
T(o,
±
Is
(NEB.)
2
D0
Girar drPc
LOUISVILLE
"Jafar m 3 >
iimaiijK
JS T„..i —
G Taylorville
Virden
—O
I
^
Thnvpr 0!?*
Tiiayer
<£>
I
.
^(fi 6<ge\^,^5 Jw 31 either
1 West
if
4?
rf_if $
H
Auburn^^
iACKSOIN VILLE
i West Ul
Union
R,ro|iliooV
.
,r,..,.-
0"»
„
,
Yeddo
W^0o ^Kiugman
rA'Vss^ lTallyIei'
t
€,
Woodside,
(NEB,)
VEEDERSBURG
0£cAri
Chathi
Roy
Stonebluff
t/TJlmery
springfield
(NEB.)
SO. OMAHA
uolavia)
MV/^4nA»'UI'K"«
$NYi&
Sherman
.
quincy
RALSTON
Elkhart
Williamsville
Shelbytowniv^
Vv^vv-/!.'
'''•
'^jr
Iude|«;rideuce
Rob
Ospur
ilaroa
PAPILLON
|Kicka[K)'
sjudjfwille'
fco—owaJUDlWILLE
"<S v/:
r.
w
olRosswlle
Silica
*
CLINTO
Rivff_
(IOWA)
i
r»
Heyworth
Union
jlWinthrop
to
Ro8SV[',,e Jc.
xl
«>•
w
'4/
ngton
I Oxford
5 ICbaUerton
o'l VVe'ii ijgton
«tlHoo|)cston
H., /
■fre/y. yV
V
.
r.
_
'TRAC
I o Minier
Mindah
~0
CISs*«e
fl/ji
r0^ St. Augustine
GLENWOOD
percy jc.
jGoodland
■
VQ,®
,'J!ll(>t
aP*>
^
'Abingdon
-o
OAI<
^ v/J\
| ■ wjA \
j
hood}
atse^^T,
Wats^Ka
Oilmano
/FAIR
a'^cuute
jjJ?"
j,^\: /
J
Martinion
4?
■**
^
BURG/^*COE^t Galoeburff
GALES
^Burlington
/a
jS f
ft.
*Sa nl,/>»..
/^ankoty
.
V^>) Victoria
_
ny Zadoc
<S>'fVirile
;.
>^y°l'Ki«s Park
tannej.
»
uplt.eau
acrof
Watago[
;'4. «#'
.
Wiclieril
VTa
"""l
0
Kostor "l\"^0",!ltn^
Kankakee.0
STREATOR
M
Sol lil t
J
"*
°s<
o,
BeecJJer
I
"
Boston
heights
chicago
J Holland /
Sprin^Hill
/ Moccasin
o
\
[Ehrlicb
wun
)randalia
Asliboro
w./altamont
SALINE CITY
staunton
WICHITA
(KANSAS)
St.
Elmo!
Eel River
TOPEKA
Pittsburg S Coal City
«1 Hubbell
sullivan
St. James
Loogootee^
■f £
(KANSAS)
Greenville
n
Johnstown
Hobinson
!
XV
Olney
4
o
Paxton
Welch
Elliston
J Carlisle
fx 5 Oaktown
St. Peter
u,
1;^ I
<S
JEFFERSON
/f/r*
Q
Plummer
Lester
Busseron
„
SA
'
I/i
Emison
Hyatt
Graham
Jordan
(MISSOURI)
Lawrence ville
leo\
jBrubaker
(S
salem
TRANSMISSION
LINES
Centralia
J Hazleton
Nashville
J/ou
Fairfield
Jlunden
FRANKFORD
NEW LONDON
Waterlo
j} Miller
■
M0-
Kenneth
,
O
O
o
Sparta
lna
»
Du
'
Sonierville
c
'
31cLeansboro
Mackcy
Quoin
Wliitlington
Street Railway
Rosebud
Carnii °)
\ Cabool
Electric Light
-BENTON
'
vsi*'
Street Railway, Electric Light and Heat
o
A
Street Railway,
Electric
Carbondale
Light and Gas
il
marion
X Street Railway, Electric Light, Gas and Heat
Hudgens
Goreville
A Electric Light and Gas
□ Electric Current Sold
X
TP
{Spillertown
!
k
V*'
Eldorado
to Local
^TpTn
Companies
St.George
'straight
Line Jc.
o
0)
River
Omar
'3° Henderson
EXPLANATION
Buncombe
Interurban Lines
o
Electric Light and Water
v/lglehart
>
-r
Mo u
Nr
OIL
o
Elberreld
'Elliott
v Johnston City
Street Railway & Electric Light
■u/f
8®
i
joakland city
/Gudgei
Bonnie
by the Illinois Traction Co.
Hosiuer
|Princeton/ Massey
"King
nK>
Carvel
Clark
q
Paioka
Little
ui
5^
I
Blackburn
NI
=—
mount vernon
1
Ciiy Properties controlled
Sandy Hook
Rogers
Decker
! Kell
Belleville
PERRY CENTER
Washington
Mayville
Thomas
'
I Cnrtter
$r- Louis
ST.LOUIS
,
Missouri
f
(Cypress
Missouri
"
Hawkins
_
I Purcell
north'
Slinkard
2jElnora
'
Kinmundy
CITY
M
Ciav City
.
Vandalia
,Ato%»/j
Vienna
•
•
•
•
XS'C'B^
Electric Light Transmission
Lines
Electric Light, Gas and Heat
illinoismtra0ctio¥ system
CHiCAGO,
OTTAWA &
PEORIA
RAILWAY
SHOWING CONNECTIONS WITH
CHICAGO
a
EASTERN
ILLINOIS
IN
RAILROAD
ILLINOIS
K
3^unds>VV^
sr~\
^
••
_
o«C^ Interurban Railway and Transmission Service
* Street Railway, Electric Light, Gas, Heat and
Street Railway, Electric
%
Light, Gas and Ice
^
CHICAGO, ROCK ISLAND & PACIFIC RAILWAY
TERRITORY
/o
T
u
c
K
Y
Ice!
ELECTRIC
APE., 1920.]
STOCK AND
Interest.
Date.
BONDS—
Stock, common, SI.000,000
1st pref., $400,000, 6% cum„
-
M-S
2d pref, $600,000, 6% non-cum.
1st
mtge
$4,000,000
gold/ 1911
(S500~and $1 000)—-I ctf
Outstanding.
Maturity.
$1,000,000
400,000 Oct'19, 3%
600,000
See text
.
5 A-O
.
1,737,000 Apr
1 1931
(int. at First Sav. & Tr. Co., Milw^. Trustee.
bonds may be issued only when net earnings are
bonds to be Issued, at not exceeding 75% of cost
of extensions, additions. &c.
Subject to call at 105 and int.
V. 92. d. 725.
Dividends.—Dividends of 3% paid s.-a. on 1st pref. from Sept. 1911 to
Mar. 1914 (lncl.).
None to Jan. 1916, when 1J^% was paid.
In May 1916
H% and H% each month thereafter to Oct. 1916.
In Dec. 1916 paid
3%.
In April 1917.3%.
Inl918,6%.
In April 1919 paid off all accumu¬
lated dividends up to April 1 1919.
In Oct. 1919,3%.
In 1920, April, 3%.
On 2d pref. paid 3% s.-a. from Sept. 1911 to March 1913, inclusive.
None
to April 1919, when 3% was paid.
In October 1919, 3%.
Bonds.—Remaining
twice int. charges, inci.
and years ending June 30:
Net.
Interest.
Divs.
Surplus.
1919
$529,376
$339,366
$190,010
$88,026
$42,000
$59,984
1918-19
474,106
293,42 7
180,679
84,350
96,329
1917-18
385,498
240,309
145,189
79,775
65,414
ROAD.— Will be 120 miles long, running north from Milwaukee to Cedarburg, where it forks, one branch extending to Sheboygan via Port Washing¬
ton and the other to Fond du Lac.
Operates 69 miles of track, including
6H miles in Milwaukee, between Milwaukee, Cedarburg and Sheboygan
Is double-tracking
the line between Milwaukee & Cedarburg, 10 miles
completed.
Gauge, 4 ft. 8H in.
70-lb. T rail.
OFFICERS.— Pres., Wm. A. Comstock; V.-P. and Gen. Man.. F. W.
Walker; Sec. and Treas., Henry A. Haigh.—V. 92, p. 725; V. 107, p. 82.
EARNINGS.—For cal. year 1919
Year—
Gross.
Exp. & Tax.
CENTERVILLE, IOWA.
IOWA
SOUTHERN
31
RAILWAYS
UTILITIES CO.
Change in Control.—In May 1919 David G. Fisher & Co. of
Davenport,
la., public utility engineers, purchased the holdings of D. C. Bradley and
Frank S. Payne, Pres. and Treas.-Gen. Mgr., respectively.
The trans¬
action is said to have involved in the neighborhood of $450,000 and the
formal transfer of control was made on May 15 1919. V. 108, p. 1940. 2245.
ORGANIZATION.—Organized in Maine in 1905 as the Oenterville Light
Name changed to present title in 1916.
In 1916 acqured
the property of the Centerville Albia & Southern Ry.
Owns and operates
without competition the street railways serving Centerville, and interurban.
& Traction Co.
and freight electric railways extending from Centerville to Albia.
interurban track.
Has also acquired all the
property of the Moulton Elec. Co., Leon Elec. Co., Mt. Ayr Lt. & Pow.
Co., Lenox Elec. Co., Clearfield Elec. Co. and Blockton Lt. & Pow. Co.,
thus owning all the public utility properties serving more than 27 communi¬
ties, with an estimated population of 55,000, including Albia, Centerville,
Moulton, Moravia, Allerton, Leon, Mt. Ayr, Clearfield and Lenox.
Franchises run beyond life of bonds and contain no burdensome restrictions.
In April 190? obtained a 50-year franchise on certain streets of St. Louis
was also given authority by the U. S. Government to build a bridge
and
across
the
bridge
V. 92, p. 259.
On July 1
Louis & Peoria, 174 miles,
with only two stops—at Springfield and Lincoln—the running time being
5^ hours, or about 32 miles an hour (V. 93, p. 44).
In Aug. 1911 the
company opened offices in Chicago, with the purpose of securing freight
from points between Chicago and St. Louis, though company has as yet
V. 93,
direct entrance Into Chicago.
no
527.
p.
Fare and Rate Increases.—On Dec. 4 1916 the I.-S.
schedule of fare between St. Louis, Mo., and Venice,
STOCK AND BONDS—
Common
stock
Pref stock 7%
360.000
debenture mortgage
M $2,500,000 sk fd gold'
($100. $500 & $1,000) c*.tf
Serially
10,000
owned and
be Issued up to 80% of cost of
direct first mtge. upon the properties, &c., now
acquired.
Additional bonds
may
permanent extens., &c., when net earnings are twice Int. charges on all
bonds outstanding, Including those proposed.
A minimum maint. charge
for railway properties of 17% of gross earnings from railway operations, Is
provided.
Sinking fund began March 1 1919, of 10% of net earnings
for the previous year, but not less than 1H% of the average amount of
1st M. bonds outstanding during the year to retire bonds or for permanent
Improvements.
V. 104, p. 73.
The debenture bonds are secured by mort¬
gage, subject to the first mortgage bonds.
'
'
EARNINGS.—For years ending Dec. 31:
Yr.
Gross.
Net, aft. Taxes. Bond,&c.,Int.
Dividends.
Cal.
1919
1918
$85,213
81,591
$143,817
124,953
$528,495
450,979
$25,200
Surplus.
$58,604
18,162
PROPERTIES.—A steam plant at Centerville with 240 miles of hightension transmission lines; steam heating systems at Centerville and Leon;
generatj/ig and distribution system at.Centerville; a short street rail¬
way in Centerville, also electric railroads on private right-of-way connect¬
ing Centerville with Albia and Mystic, which do a freight and express busi¬
ness and are connected with transcontinental railway lines.
a
gas
OFFICERS.—Pres., David G. Fisher; V.-P., John C. Meiners, Milw.;
J. C. Johnson; Aud..
Sec., L. C. Bernhard, Milw.; Treas. & Gen. Mgr.,
G. E. Peck.—V. 104. p. 73; V. 108, p. 1940. 2245.
CHAMBERSBURG, PA.
CHAMBERSBURG & GETTYSBURG ELECTRIC RY.
ORGANIZATION.—Incorporated In Pennsylvania Dec. 4 1900.
STOCK AND
BONDS—
Interest.
Date.
Stock $225,000 ($50)
1st mtge. $225,000 ($1,000),/
Outstanding.
fixed
within
rates
zones,
Issued a permanent in¬
junction restraining the State of Illinois from interfering with the company
in the proposed increase of passenger rates above 2 cents per mile, with. 3
cents per mile as the maximum charge.
V. 107, p. 1287.
On Dec. 26
English in the U. S.
Dist. Court at Danville, HI..
1918 was authorized by the I.-S. C. Comm. to increase passenger rates to
not to exceed 3 cents per mile.
V. 107, p. 2478.On May 16 1918 the fol¬
lowing fare and rate revisions were authorized by the 111. P. U. Comm.
(a) 6-cent fare in Jacksonville and Cairo, with 20 tickets for $1; (6) Straight
5-cent fares in
Danville.
Decatur. Champaign, Urbana,
Bloomington,
Quincy and Galesburg.
In July 1919 cash faros in Quincy, 111., wore in¬
creased to 7 cents.
V. 109, p 3/0.
Fares in Urbana, Champaign, Bloom¬
ington and Normal were raised to 7 cents, effective Aug. 1 1919.
V. 109, p.
477, 886.
(c) Increases per 1,000 cu. ft. of gas for the first 5,000 cu. ft. con¬
sumed monthly as follows:
Decatur,
10c.; Danville, 20c.; Champaign,
Urbana and Galesburg, 25c.
The Mo. P. S. Comm. auth. an increase
in the charge for gas supplied at Jefferson City, Mo. V. 106, p. 2228.
On
July 2 1918 the 111. P. U. Comm. auth. the Peoria Ry. to charge a straight
5-cont fare, and on June 7 1919 the same co. was auth. to charge a 6-cent
fare for a period of i year from that date. V. 108, p. 2650.
Subsidiary companies' bonds in the hands of the public Mar. 1 1920
amounted to $55,353,200.
STOCK AND
BONDS—
Outstanding.
LastDivid
$12,331,000
See text
7.289.500 Apr '20, 1M
[3,000.000 Feb 1 1925
(1,500,000 Jan 1 1926
!
62.000 Apr 1 1927
Interest.
Date.
Common, $15,000,000 ($100).
Pref 6% cum $10.000.000($100)
O-J
Debenture gold
5%
bonds
$225,000
EARNINGS.—For calendar
years:
Net.
Gross.
Year—
Oth.Inc. Int. & Tax.
$928
$11,958
3
12,447
Balance.
sur.$5,509
1918
def. 1,279
1917
.9,073
232
11,733
def. 2,428
ROAD.—Ooerate3 13.21 miles of track between Chambersburg, Stofferstown, Fayetteville. Greenwood and Mt. Union.
60 to 80-lb. T and
1919.
-
girder rail.
$59,283
46,374
38,653
$16,538
11,165
Gauge, 5 ft. 2)4 in.
Aud., F. J. Fell Jr.; Supt., D. B.
W. L. Ritchey
Fretz.—V. 105, p. 2271,
CHAMPAIGN,
In
Maine
City lines
Gas
Electric.
—
_
1918.
$4,740,079
1917.
$4,609,896
1^16.
$3,993,836
3,351,256
3,198,056
1,282,104
1,035,169
4,295,501
3,110,811
£23,642
945,772
Heat, water & miscell
4,887,743
999,821
earnings..$17,682,338 $15,261,003
Oper. expenses & taxes.. 12,544,181
10,966,998
Total gross
Net
earnings
Interest
on
848,307
$14,040,870 $12,566,447
bonds, &c___
Pref. dividends (6%)...
9,149,17b
7,489,797
$4,294,005
$3,880,261
437,370
(M)92,480
$4,891,694
$3,719,541
432,750
(3)368,732
$5,076,650
$3,603,418
428,130
(3)367,584
$4,410,111
$760,482 def$116,106
....
Common dividends
3,689,852
902,248
$4,521,023
$4,399,132
$677,518
$5,138,157
$3,940,305
437,370
__
_
$4,377,675
Total deductions
Surplus..
From the balance as above In
$370,671
1919 there was deducted
$115,025 for bond
of $17,728; while
discount and $627,729 for depreciation, leaving a surplus
in 1918 there was deducted $611,159 for depreciation and
$92,123 for bond
discount, resulting in a deficit of $819,388.
625.61 miles of track; city lines
comprise 270 22 miles of track: total of all lines, 8 5.83 miles.
In 1912
entered into a contract with Wabash RR. for a physical connection and
general interchange at Decatur.
Has working agreement with all steam
roads in its territory that can be of service, except the Pennsylvania and
N. Y. Central lines.
Interurban lines have 197 passenger, 124 express,
1,085 freight cars and 34 misc. cars, and 35 locomotives; city lines have
425 motor cars and 201 others; 4 central power stations and 40 sub-stations
ROAD.—The interurban lines oomprlse
interurban lines.;*®fj
H. E
*
B. McKinley. Champaign; V.-P. and Gen. Mgr..
Treas.. Geo. M. Mattls Champaign:
Chubbuck, Peoria; V.-P. and
Montreal.—V. 106, p. 2443, 2456, 2758; V.
1287, 1384, 2476; V. 108, p. 2428, 2443; V. 109, p.
1415.
.■
'
' .
107, p.
370. 477, 1700; V. 110.
p.
PROPERTIES CONTROLLED BY THE ILLINOIS TRACTION CO.
(1) Atchison Railway, Light & Power Co.
ORGANIZATION.—Successor In 1895 of the Atchison Ry. Elec. L. & P.
Co.
Controls electric railway. lighting and gas properties of Atchison.
STOCK AND BONDS—
Stock. $1,500,000 ($100)Preferred
-
Outstanding.
Interest.
Date.
Maturity.
$500,000
136,000
—
6%
-
$1,500,000—
tf 1910
5%
Bonds.—Sinking fund, $10,000 per annum, payable
alive in fund April 1 1920.
Fir*t mtge
„
—
IW*
750,000
Nov. 1; $24,000 held
99
on
May
13
1904.
On
Nov. 10 1913 Increased the auth. common stock from $10,000,000 to
$15,000,000, In order to acquire control of the allied Western Railways &
Light Co.
Two shares of Railway & Light com. were exchanged for one
of Illinois Traction com., $4,510,400 of the $4,521,800 stock outstanding
being so acquired.
The pref. stock of the Railways & Light Co. remains
outstanding.
See V. 97, p. 1426,1604. Controls the following companies:
*
Jofferson City Bridge & Transit Co.
Atchison Ry., Lt. & Power Co.
Bloomington Decatur & Champ. RR ♦Jefferson City Lt.. Ht. & Pow. Co.
Bloomington & Normal Ry. & Lt.Co. Madison County Light & Power Co.
Mills County Power Co.
♦Cairo City Gas Co.
Montezuma El. Lt., Pow. & Htg. Co.
♦Cairo Electric & Traction Co.
Montlcello Electric Light Co.
♦Cairo Ry. & Light Co.
♦Mound City Light & Water Co.
♦Cairo & St. Louis Ry. Co
New Valley Junction Water & Lt. Co.
Central Lighting Co.
♦Northern Illinois Light & Trac. Co.
•Chicago Ottawa & Peoria Ry. Co.
North Missouri Light & Power Co.
♦Citizens'Ltg.Co., La Salle-Peru.
Omaha & Lincoln Ry. & Lt. Co.
Citizens Pure Ice Co., Jacksonville.
Oskaloosa & Buxton Elec. Ry. Co.
Clinton (111.) Gas & Electric Co.
Oskaioosa Light & Fuel Co.
Colfax Electric Light Co. (Iowa).
Oskaloosa Traction & Light Co.
•Consumers Water & Light Co.
Danville Cham. & Dec. Ry. & Lt.Co. Peoples' Traction Co.
Peoria Railway Co.
Danville & Eastern Illinois Ry.
Danville & Northern RR.
•Qulncy Railway Co.
St. Louis Electric Bridge Co.
Danylile & Southeastern Ry. Co.
Danville Street Railway & Light Co. St. Louis Electric Terminal Ry.
Danville Urbana & Champaign Ry. St. Louis Springfield <fe Peoria RR.
Decatur Railway & Light Co.
Topeka Edison Co.
Des Moines Electric Co.
Topeka Railway Col
Des Moines & Cent. Iowa Elec. Co. Topeka Railway & Light Co.
Urbana & Champaign Railway, Gas
Galesburg Artificial Ice Co.
& Electric Co.
•Gaiesburg Ry., Lighting & Power.
Urbana Light, Heat & Power Co.
Galva (111.) Electric Light Co.
♦Wichita RR. & Light Co.
Illinois Central Traction Co.
Western Rys. & Lt. Co.
Jacksonville Railway & Light Co.
Companies marked with • formerly comprised Western Rys. & Lt. Sys.
1919.
$5,930,524
3,997,349
1,074,947
5,733,746
ROAD.—Operates 9.74 miles of track.
26 cars.
Supplies city with
arc lights and
135 incandescent lamps; also 8 arcs for commercial
lighting; 2,986 electric and 2,400 gas meters in use.—V. 107, p. 1191.
ILL
ILLINOIS TRACTION CO .—(See Map on page 20 )
ORGANIZATION.—Incorporated
calendar years (1918 report in
REPORT.—Of combined properties for
V. 108, p. 2428, 2423):
—
OFFICERS.—Pres., M. C. Kennedy; Sec. and Treas.,
First
preferred stock.
Dividends.—6% per annum is being paid on the
on com.. H%, paid May 15 1913: same rate quar. to and lncl. Feb.
1918; May 1918 div. omitted (V. 106, p. 1231, 2228). .None since.
Divs.
have been paid on Western Rys. & Light pref. stock since organization.
div.
Sec., T. B. Macaulay,
225,000 May 1 1933
5 M-N
1903
Light Co.—
Pf cum 6% $3,500,000 ($100)
Q-J
3.169.000 See text
Debenture gold bonds
tf
5%
1.645.000
Stock.—Additional preferred stock can only be Issued when net earnings
are equal
to 9% on preferred stock out and the amount proposed to be
Issued.
Preferred stock is listed on Montreal Stock Exchange.
"OFFICERS.—Pres.. W.
sink. fund—c* lint, at Northampton Tr. Co., Easton, Trust.
not red., no
Western Railways
on
Maturity.
of the
Judge
mile for passenger service, instead
effective Feb. 11 1918.
In Sept. 1918
subsidiaries to charge 2 cents a
Gross Earnings.—
Interurban lines
of Illinois, trustee.
Bonds assumed
hereafter
—
190.000
6%
1916
6 g A-0
957.000 Oct 1 1933
Int. In N. Y. or Chicago.
Central Trust Co.
redeem at 105 and Interest
Bonds.—A
Maturity.
Outstanding.
$580,000
$500.000
Serial
1st
Interest.
Date.
$1.000,000
C. Comm. approved a
Madison and Granite
City, 111., which increased the average receipts per passenger from 5 to 7.2
cents.
In Jan. 1918 the Illinois P. S. Comm. authorized the company's
passenger
Iowa, with about 32 miles of
This
Louis,
Mississippi River between Venice,111., and St. Louis, Mo.
opened to traffic in Nov. 1910 and, with terminals in St.
was
represents an investment of over $6,000,000.
1911 began running express trains between St.
(2)
& Champaign RR.
Bloomington Decatur
ORGANIZATION.—Incorporated in Illinois on Nov. 29 1910 as a con¬
Decatur Ry. and St. Louis Decatur
& Champaign Ry.
Operates on private right of way except through cities
ahd towns (8 miles) where tranchises extend to or beyond 1953.
solidation of the Chicago Bloomington &
Date.
STOCK AND BONDS—
1st & ref mtge,
1910
$15,000,000, g
($1,000 coup & $1,000 or
multip reg.) gu p&i.c*&i-*tf
Maturity.
11940
Bank.
Bank, N. Y.
Nov 1 1940
Trust Co, of Illinois. Trustee.
5
g
Interest at
M-N
1,496.000 Nov
Illinois Trust & Savings
Chic., Trustee, or Chase Nat.
1910
5 M-N
890,000
General mortgage
(Central
Chic Bloom & Decatur 1st M_
Stock.—Of the pref. stock,
- - - - -
1916 issued $500,000 5%
General Mortgage bonds.
Ser.
A
...
ffooc
.
$912,500 is Series
In March
amount of
Outstanding.
Interest.
$3,000,000
1.137.500
Common, $3.000,000
Preferred 5% ($1,137,500)-.
A
nnn
i
and $225,000 is
pref. stock to retire a like
-
.
various pur¬
acquisitions of two connecting interurban
and Illinois Central Trac.), $890,000
to redeem the general mtge. bonds. $472,000 to replace general mtge. bonds
issued in the future and $5,016,000 for 80% of cash cost of additions and
improvements.
These $5,016,000 bonds, excepting $500,000 (issuable at
any time for 80% of cost of additions and improvements, with consent or
N. W. Halsey & Co.) can be Issued only when the preceding 12 months'
gross earnings have equaled five times and net earnings 1% times the inter¬
est charge on all bonds outstanding and those proposed to be issued.
Bonds
are unconditionally guar., p. & I., by Illinois Trac. Co.
They are redeem¬
able at 105 on any int. date.
V. 92, p. 259. Int. on general mtge. bonds is
payable at office of Merchants* Bank of Canada, New York.
Bonds.—Of the $13,500,000 "1st
& ref." bonds reserved for
poses, $6,750,000 are reserved for
roads (DanvilleUrbana & Champaign
ROAD.—Owns and operates 106 miles
of track (96 miles, main line; 10
from Bloomington through Decatur to Champaign
60 and 70-lb. rails.
Standard gauge.
248 cars and 6 locomotives.-^-V. 102. p. 65.
miles sidings) extending
and Urbana.
ELECTRIC
22
(8)
Bloomington &
Normal
Railway
railway and commercial electric light and power business In Bloomington
and Normal and operates hot-water and steam-heating system in Bloom¬
ington.
Principal railway franchise in Bloomington expires In 1929.
In
this franchise city reserves right to purchase plant at an appraised value
plus 10% of same.
Railway franchises in Normal that are not perpetual
expire in 1922.
Principal lighting franchises are perpetual.
Minor fran¬
chisee in Bloomington for lighting and for steam and hot water heating
expire in 1930 to 1935.
In Jan. 1917 the authorized capital stock was Increased from $1,650,000
V.
104, p. 255.
In Dec.
1917 the Illinois P. U. Comm.
the company to issue $53,000 additional
bonds.
These have since been issued.
auth.
pref. stock and $66,000
;
Rates.—See Illinois Traction Co., above.
STOCK AND BONDS-—
Date.
Interest.
Cora stock. $1,200,000 ($100)
k
STOCK AND BONDS—
'
Cairo Railway & Light Co.—A trolley road.
'
ORGANIZATION.—Incorp. on Oct. 5 1908 in Maine and purchased
all stock of the Cairo Elec. & Trac. Co., the Cairo City Gas Co. and the
Cairo & St. Louis Ry. Co.
The Cairo Elec. & Trac. was a consolidation of
the Egypt Electric Co. and the Cairo Electric Light & Power Co.
Rates.—See Illinois Traction Co., above.
Interest.
Outstanding.
.
(а)
Cairo & St. Louis Ry.
Controlled by Cairo Ry. & Light Co.
ORGANIZATION.—Incorporated In Illinois Oct. 1908 to construct a
line from Cairo to East St. Louis.
Has a 50-year franchise In Cairo, Mound
City and Mounds.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock, $300,000
$300,000
First mtge, $250.000.g_c&rtf / 1908
5 g M-N
250,000 Nov 1 1938
Bonds.—"Coupon bonds
)Portrd(Me.)Tr.Co.,Trus.,&F.D.Lunt,Portl'd
are in $1,000 pieces and registered In any desired
Int. at Portland (Me.) Tr. Co.
No s. f. and not subject to call.
ROAD.—11.46 miles of track completed and in operation; 10 cars; 1
amount.
engine.—V. 88,
p.
293.
Chicago Ottawa & Peoria Railway Co.
ORGANIZATION.—Bought outright in 1909 the Illinois Valley Ry.
Operates largely on private right of way.
Franchises In various towns
mature mostly after 1950.
Maturity.
----------
-
of
new
property.
COMPANY'S PROPERTY.—The company owns the following:
1. Gas
operated under special charter and a perpetual franchise.
2. An
electric-fight plant Is operated under a 99 year franchise; also has dynamos
for furnishing power to street railway.
3. The entire street railway sys¬
tem of the city, 16 37 miles of track, nearly all laid In brick pavement,
running to three parks, the fair grounds, cemetery and railway depots and
works
National Soldiers
Equipped with 50. 60 and 70-lb. Johnson T rails
and 12 others.
Furnishes electric
Ridgefarm, Indianola, Sidell and
Home.
with 26
motor cars
current
at
(General Electric)
Westville,
Georgetown,
Chri8man.
OFFICERS.—Same
Co.—V.
as
those for Danville Urbana Sc Champaign Railway
106, p. 85.
Decatur Railway & Light Co.
Controlled by Danville Champaign Sc Decatur Ry. Sc Light Co
(b)
^
_
_
ORGANIZATION.—Incorporated in Illinois in Dec. 1903. to take over
the property of the Decatur Traction Sc Electric Co., the Decatur Gas &
Electric Co. and the Decatur Steam Heating Co., owning all the street rail¬
way, gas
and electric-lighting business and steam-heating plant In Decatur
and suburbs.
In Dec. 1917 the Illinois P. U. Comm. authorized the issuance of $180,000
additional
stock
and
$60,000
in
(incl. in amounts reported out¬
J-f-f;-: ' Vf.
'
•; v.V:--\V
bonds
standing).
Rales.—See Illinois Traction Co., above.
STOCK AND BONDS—
Maturity.
$1,555,000
150,000
See text
first mortgage
tf/int. at Merch. L. & Tr. Co., Chic., Trustee,
Decatur Gas & Elec Co 2d M
1899
5 J-J
90,000 Jan 1 1930
Date.
Interest.
Outstanding.
Stock, $1,555,000 ($100)
Gas
Decatur
Maturity
Stock, com., $1,000,000 ($100) All owned by Western Rys. Sc Light Co.
Pref. stock $366,000
$366,000
Cairo Ry & LtM $1,000,000 gntf 1908 5 g J-D
8.50.000 Dec
1 1938
O E & T 1st M, $300,000. gntf/1903 5 g J-D
150,000 June 1 1923
($500 and $1,000).
cntfllnt. at Central Trust Co., Chic, Trustee.
Cairo City Gas Co $75,000 gold 1903
5 g J-D
75,000 June 1 1923
Bonds.—C. E. ic T. bonds subj. to call on any Int. date aft. lOyrs. at 105
ROAD.—Operates 9 miles of track In Cairo, together with the electric
lighting and power plant.
22 cars.
Furnishes city with 72 arc and 260
Incandescent lights; also supplies 40 commercial arcs.—V. 88, p. 293, 374.
$1,438,000
Refunding mortgage, $700.-1 1900
5 g J-J
634,000 Jan 1 21-25
c* tfllnterest at N. W. Harris Sc Co.
gold ($1,000)
Consol and ref debs. $7,500,-1 1913
5 M-S
1.603.000 Mar 1 1938
000
tf/Central Trust Co. of 111.. Trustee.
Bonds.—Ref. bonds are due $0,000 annually Jan. 1 1910 to 1924 inclusive
and remainder on Jan. 1 1925; $66,000 have been retired.
Sinking fund of
$6,000 per year began Jan. 1 1910, bonds being drawn (at par and accrued
Int.) in numerical order, beginning with No. 1.
Mortgage trustee Is the
Illinois Trust & Savings Bank, Chicago.
V. 70, p. 125.
Of the consol. &
ref. debs, of 1913, $1.603,000 are deposited under D. C. 9c D. Ry. Sc Lt. M.
$634,000 are reserved to replace underlying boDds and $5,263,000 for cost
(4)
Date.
110.
Outstanding.
Interest.
Date.
Stock, $1,500,000 ($100)
..:
:
Outstanding.
Maturity.
$1,200,000
Pref. stock, $700,000. 6% cum
Q-F
611.000
1st and gen mtge, $3,500,0001 1911
5 J-J
1.252,000 Jan 1 1928
gold ($1,000)
c*&rtf/Illinois Trust 9c Sav. Bk., Chicago, Trustee.
B Sc N R E Sc H 1st mtge.l
1902
5 g J-D
600,000 June 1 1927
$600.000($1,000) g,sf_c*tf Jlnt. at 111, Trust Sc Sav. Bk., Chic., Trustee.
Stock.—The pref. stock is red. at 105 and accrued div. and is guar. p. & d
(end.) by the Illinois Traction Co.
Tax exempt in Conn., New Hamp¬
shire, Illinois, ice.
Bonds.—Of the $3,500,000 1st and gen. mtge. bonds, $600,000 are re¬
served for prior liens and $1,648,000 for extensions and Impts. under care¬
ful restrictions.
Are guar. prin. and int. and s. f. by III. Trac. Co.
Int.
in N. Y. or Chicago.
Callable as a whole or in part for s. f. at 102H and
interest on any interest date.
Sinking fund of 2% of bonds out annually.
Of the bonds outstanding, $106,000*are In sinking fund.
V. 93, p. 665.
The Railway Electric & Heating Co. bonds are subject to call at 110 and
int.
Sinking fund, $10,000 annually, began June 1908; $162,000 are in
sinking fund and included In amount outstanding.
ROAD.—Operates 19 miles of track in, around and between Bloom¬
ington and Normal.
Rails 70 and 72-lb.
Has 32 pass, and 5 misc. cars.
Power station has 3,300 k. w. capacity.-—V. 108, p. 2648; V, 109, p, 886.
STOCK AND BONDS—
(VOL.
Rates.—See Illinois Traction Co., above.
Light Co.
&
ORGANIZATION.—Incorporated In Illinois on Feb. 23 1906 as a con¬
solidation of the Bloomington Sc Normal Ry., Electric & Heating Co. and
the Consumers Light Sc Heating Co. of Bloomington.
Does all local street
to $1,900,000.
RAILWAYS
Co!
Electric
&
Interest
$400,000 ($300,000reserved
for above ($1,000), goidtf
Dec Trac Sc Elec 1st M $300,-
5 M-N
1899
at
Merchants' Loan
<k
Trust
Co..
Chicago. Trustee.
212.000 Jan
5 J-J
1900
_
1
1921
000(1500&$1,000each)c*tf/Int. at Illinois Tr.A Sav. Bk..Chic., Trustee
Dec Ry 8c Lt Co 1st & cons M
1903
5 g J-D
743.000 Dec I 1933
$1,300,000,g ($1,000)-c*tf[Int.OIdCol.Tr.Co.,Bos.,Tr.,&agencyinN.Y.
1913
5%
1,504.060 Mar 1 1938
$7,500,000 (red at 105). tf/Central Trust Co of 111., Trustee.
Bonds.—$1,195,000 Decatur Railway Sc Light Co. first and consols, are re¬
served to retire an equal amount of prior liens as above.
A sinking fund
of 10% of the net earnings, or not less than 1% of outstanding bonds, is
to be Invested In the bonds.
Amount outstanding Includes $238,000 bonds
held in sinking fund.
These bonds are subject to call at 107H and Int.
on any Interest date upon 60 days' notice.
Of the Decatur Gas & Electric
Co. 1st M. bonds, $15,000 must be redeemed on May 15 1910 at 105 and
»
like amount each year thereafter In numerical order.
These bonds
are subject to call at
105 and Interest.
The second mtge. bonds of the
Decatur Gas Sc Electric Co. are redeemable at any time at 105 and Int.,
but there is no sinking fund on these bonds.
Of the Dec. Ry. Sc Lt. consol.
Sc ref. bonds, $1.504,000 are deposited under the Danv. Champ. Sc Dec. Ry.
Sc Lt. consol. Sc ref. mtge.
$1,195,000 are reserved to retire underlying
bonds and $4,801,000 tor new construction.
Dec Ry & Lt con & ref mtgel
ROAD.—Operates about 15 miles standard-gauge road In Decatur and
suburbs; 60 Sc 72-lb. T rails.
35 motor cars Sc 4 others.—V. 100, p. 85.
(0)
Rate Increase.—In Aug.
1918 was auth. by the 111. P. U. Comm. to in¬
freight rates 25%.
V. 107, p. 603.
April 1919 the company issued $406,000 pref .stock at par.
Compare
V. 108, p. 267.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Com. stock—$1,540,000 outstand'g—All owned by Western Rys. &Lt. Co
Preferred stock cumulative—
6%
$406,000
First cons and ref mtge. guar,/ 1907
5 g J-D
3,494.000
Dec l"l937
tflCentral Trust Co. of Illinois, Trustee.
$5,000,000 ($1,000)
Illinois Val 1st M, $1,500,000/ 1905
5 g M-8
1 500.000
Sept 1 1936
g($500&$1,000)j?uarc.tflint, at Irving Nat. Bank. N. Y. City.
Bonds.—Ch. Ott. & Peo. 1st M. bonds are guar., p. & l., by Western
Rys.
Sc Lt. Go.
$1.500.000 are reserved for prior liens.
They are subject to call
on any int. day on 30 days' notice at 105.
Int. at Merchants' Bank of Can¬
ada in N. Y. City.
Illinois Valley bonds have a sinking fund of 1 J4% per
annum of amount out; mtge. was originally $2,000,000. but on
merger with
Chic. Ott. & Peoria the $500,000 unissued was canceled;
$478,000 (incl. In
amount outstanding) held in sinking fund.
Bonds are guar., p. & L, by
Western Rj's. & Light, Portland (Me.) Trust Co. is trustee.
Are subject
crease
In
to cail at
105.
ROAD.—Operates from Princeton. III., via Peru, La Salle. Utica, Ot¬
Urbana
(c)
Champaign
&
Railway, Qas Sc Electric Co.
<fc Decatur Ry. Sc Light Co.
Controlled by Danville Champaign
ORGANIZATION.—A consolidation In 1897 of Urbana Sc Champaign
Electric Street, Champaign Electric Light Sc Power, Champaign & Urbana
Gas
Light 9c Coke and
and
steam
charter.
West End Park companies.
Owns perpetual gas
The underlying railroad charter is also perpetual.
Franchise In 1901 extended for 20 years.
Rates.—See Illinois Traction Co. above.
STOCK AND BONDS—
Date.
Interest.
Consol
mortgage,
$500,000/ 1899
354.000 July 1 1929
5 g J-J
($1,000, gold
c.ntf lint, at Portland Tr. Co.. Portland, Me.,Trus
6 Ry G & E consol and/ 1913
5 M-S
1.099.000 Mar 1 1938
U Sc
ref debs $4.000.000
tf 1
Central Trust Co.. Chicago. Trustee
Bonds.—The consol. mtge. bonds are subject to call on any int. day at 105
Of the U.&O. Ry., G. &E. consol. and ref. debs.,$1,099,000 are deposited
under
to
D.
O.
&
retire other
D.
Ry.
9c
bonds and
Lt. consol. Sc ref. M., $354,000 are reserved
$2,547,000 for additions and improvements.
ROAD.—Operates 12.60 miles of track In and between Champaign and
Urbana. Has 32 motor cars and 5 others.—V. 105, p. 2544; Y. 109, p. 478.
(d) Urbana Light, Heat & Power Co.
Controls the electric lighting and steam-heating
tawa. Marseilles, Seneca and Morris to Joliet, about 117 m„ with branches
from Spring Valley to Ladd and from Ottawa to Streator, 16
m.;
total,
about 123 m.
Road from Morris to Joliet was placed in operation in Dec
Entire stock Is owned by Illinois Traction Co.
Rates.—See Illinois Traction Co. above.
1911; 108 cars; 3 locomotives.-—V. 97, p. 594; V. 107, p. 603; V. 108, p. 267.
Stock
(б)
Consumers Water Sc. Light Co.
"""
ORGANIZATION, 8cc.—Incorp. In Illinois in 1913 to succeed the Mar¬
seilles Water Sc Light Co. (successor in 1910 to the Consol. Wat. Sc Lt.
Co.)
STOCK AND BONDS—
Date.
Interest.
Stock
First Sc ref M $500.000—
Consol W & Lt bonds (ntf)—.
1913
6 J-D
•
5%
Outstanding.
$500,000
Maturity.
75.000 Dec 1 1938
30,000
Dec 1925
(7) Danville Champaign & Decatur Ry. & Light Co.
ORGANIZATION.—Incorp. In Maine May 14 1913.
Is a holding
company and controls substantially all the electric, gas. street railway
and public heating systems in Danville, Decatur,
Champaign and Urbana
Franchises covering gas, electric and heating, with few
exceptions, extend
many years beyond 1938.
Street railway franchises expire at various datee
before 1938, the laws of 111. not permitting long-time street ry. franchises.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock. $3,700,000 ($100)
$3,688,000
Prof. 6% cum, guar ($100)
6 Q-M
730.000
See text
Cons & ref coll tr
/g
$15,000,000/ 1913
5g M-S
3,841,000 Mar 1 1938
c*&r*, red at 104 and int.llnt. at Boston Safe Deposit Sc Trust
Co
prin and interest—_tf I
Trustee.
H. D. Heathfield also Trustee
guar
Stock.—Pref. stock is red.
as a
whole at 110 and div.
Cumulative divs.
at the rate of 6% and also $100 a share in the event of involuntarv
liquida¬
tion or dissolution (and $110 per share otherwise), are guar, by endorsement
by tho Illinois Traction Co.
V. 103, n. 406.
Bonds.—Secured by all the stocks ana bonds of constituent companies
namely $1,504,000 Dec. Ry.&Lt.Co. Consol. & Ref. 5s; $1,099,000 Urbana
& Champ. Consol. & Ref. debs.; $1,603,000
Danville St. Ry. & Lt.
Co.Consol.& Ref. 5s and $10,000 Urb. Lt. Ht. Sc Pow. Cons. & Ref. 5s.
There are $2,274,500 underlying bonds for payment of which
a
like
amount
of cons.
& ref. bonds Is
reserved.
Remaining
$12,725,500
may be issued for additions and Improvements to constituent companies
under certain restrictions.
They are guar. p. & 1. by 111. Trac. Co., as are
also sub. co. bonds deposited under this mtge.
All future issues of stocks
and bonds by constit. cos. must be pledged under above coll. trust issue.
V. 96. p. 1422.
Coupon bonds In denom. of $1,000; regis, bonds $1,000.
$5,000, $10,000 or multiples of $1,000.
Sinking fund will retire before maturity about 40% of total bonded debt
lncl. underlying bonds; $125,000 (not incl.in amt.
outstanding) in sink. fund.
EARNINGS.—Of constituent cos. for 12 mos.
ending Dec. 31 1919
gross. $2,788,966; net, $1,003,093; interest, $313,439; surplus, $689,654.
(a) Danville Street Railway Sc Light.
Controlled by Danville Champaign & Decatur
Ry. Sc Light Co.
*
.i.OIl9A.NI3,ATION,.—tacorporated in Dec.
the street
1899 as a consolidation of all
gas and steam-heating interests.
Comm. auth. the company to issue $129,000 additional bonds (not lncl. in amount
reported outstanding).
railway, electric light,
In Dec. 1917 the Illinois P. U.
Maturity.
Outstanding.
$836,000
Stock,$836.000
STOCK AND BONDS—
Date.
Interest.
of Urbana.
Maturity.
Outstanding.
$185.000
First mtge $56,000 ($500).ctf
Second
mortgage $200,000/
business
,
5 M-N
1909
$185,000
4,500
5 J-D
See text.
87,000
1903
See text.
tflCentral Tr. Co. of 111., Trustee. Int. in Chic
Consolidated and refunding! 1913
5%
10,000 Mar 1 1938
mortgage
tf/Central Trust Co. of Illinois. Trustee.
Bonds.—First mortgage bonds mature $2,000 to $4,500 annually on
May 1 until May 1 1920.
$51,500 retired up to April 1 1920.
Of second
mtge., $4,500 are reserved for prior bonds.
Bonds mature on Mar. 1
yearly from 1918 to 1927.
They are guar, by Illinois Traction Co.
V. 89,
p. 167.
The entire outstanding amount ($10,000) of consol. & ref. bonds
are deposited under Danv. Cham. & Dec. Ry. & Lt. mortgage.
($1.000)
OFFICERS.—Pres., W. B. McKlnley; Sec., E. A. MacNutt;
M. Mattis; Gen. Mgr., H. E. Chubbuck.—V. 105, p. 2462.
Treas.
Geo.
(8)
Danville & Eastern Illinois Ry.
Temporary bonds to the amount of $50,000 (5%)
Stock, $125,000.
ar«
outstanding, due 1927.
(9) Danville Sc Southeastern Ry. Co,
ORGANIZATION.—Incorporated In Illinois
STOCK AND BONDS—
Date
on
Jan.
14 1909.
Interest.
Outstanding.
Maturity
Stock
All owned by Illinois Traction Co.
First mortgage $100,000 gold,! 1909
5 g J-J
$60,000 July 11929
($1,000)
c&rtf/Int. at Central Trust Co., Chicago, trustee.
Bonds.—Subject to call at 105 and int. on any Int. date.
Guaranteed,
p. & 1., by Illinois Traction Co.
ROAD.—Operates 2.82 miles of road from'Danvllle City limits to Grape
Greek
coal
district.
70-lb.
OFFICERS.—Same
as
rails.
those for
Illinois
Central Traction
Co.
Danville Urbana & Champaign Ry.
(10)
ORGANIZATION.—Incorporated in Illinois under the railroad law
July 28 1902.
right of way.
On Nov. 28
Owns the Danville Paxton Sc Northern Ry.
1917 the company issued $550,000 preferred stock.
STOCK AND BONDS—
Date.
Common stock $250,000
Preferred stock>550,000
First
on
Mostly private
mortgage
$2,000,000(1903
Interest.
_•
Outstanding.
$250,000
Maturity.
550,000
5 g M-S
2,000.000 Mch. 1 1923
Interest at Agency of Bank of Montreal ,N.Y.
Northern Trust Co., Chicago, Trustee.
General mortgage bonds._tf 1910
6%
700,000
Nov. 1930
Bonds.—The first 5s have no sink, fd., but are subj. to call on any int. date
upon 90 days' notice at 105 Sc Int. The bonds are guar., p. Sc I., by end. by
Danv. St. Ry. & Lt. Co. and Urbana Sc Champaign Ry.t Gas Sc Elec. Co.
gold
$1,000)
c* tf
V. 81, p. 264.
guaranteed
APR., 1920 |
ELECTRIC
ROAD.—Operates 70.16 miles of track over private right of way, con¬
necting the cities of Danville, Urbana and Champaign, with branches from
Danville to Georgetown and Ridge Farm; Danville to Catlin and
Ogden
Homer.
70-Ib. rails.
Has 20 pass, cars, 23 express cars, 175
freight
cars, 11 locomotives and 7 miscellaneous cars.
to
OFFICERS.—Pres.. W. B. McKInley; Sec., E. A. MacNutt: Treas.
Geo. M. Mattis.—V. 83, p. 435; V. 84, p. 338; V. 83,
p. 563; V. 106. p. 85.
(11)
Des Moines Sc Central Iowa Electric Co.—A holding
company
ORGANIZATION.—Controls the Iowa subsidiary properties of th®
Illinois Traction Co.. which include the electric-light and
power companiesserving Des Moines, Oskaloosa, Colfax, New Valley Junction, New Sharon.
Prairie City and Montezuma and the street railways in Oskaloosa.
Con¬
trols the Des Moines Electric Co. and the Oskaloosa Traction &
Light Co.
The bonds of thiB co. are secured by pledge of $614,000 gen.
mtge. 6%
bonds of the Des Moines Elec. Co. (total out) and all the common and
pref.
stock of the same co. Also $166,000 gen. mtge. bonds and all the
stock of
the Oskaloosa Traction & Light Co. and bonds of various other cos.
in an
aggregate amount of $249,000.
.
STOCK
AND BONDS—
Date.
Interest.
Outstanding.
Maturitu
Com stk, $1,000,000 ($100)--A11 owned or controlled by Illinois Trac. Co.
Pref stock, $150,000
do
do
do
do
8k fd gold bonds, $10,000,OOOf 1913
6 g M-S
$1,615,500
Sept 11937
($500 & $1,000) red at 105 Interest at First National Bank, New York
& int guar p & 1 and a f by
or the Central Trust Co. of Illinois .Trustee.
RAILWAYS
In Sept. 1913 Increased stock from $250,000 to $750,000.
Rates.—See Illinois Traction Co. above.
STOCK AND BONDS—
Com. stock, $750,000 ($100).
$37,OOP (incl. in outstanding amount) held alive in maint. and renewal fund
Des Moines Elec. Co. 1st M. bonds are subject to call after Nov. 1 1914
105.
Sinkingfund, 1% of bonds Nov. 1 1914-21; 1K% 1920-31: 2%
1931-37.
Oskaloosa Trac. & Light bonds have sinking fund of
$5,000 to
be delivered to trustee annually.
V. 98, p. 839, 1536.
Earnings.—Of sub. cos. of the Des M. & C. I. E. Co. for 12 mos. end.
Dec. 31 1919, gross. $1,570,501; net, $632,282; int.,
$196,590; surplus,
$435,692. :y;
:';v
at
(12>
Qalesburg Railway, Lighting & Power Co.
ORGANIZATION.—Incorp. in 111. Sept. 101913 and took over the Galesburg Ry. & Lt. Co., the Galesburg Gas & Elec. Lt. Co., the Knoxville
Elec. Lt. & Pow. Co. and the Abingdon Lt. & Pow. Oo.
Rates.—See
Illinois
Traction
Co.
In May 1917 auth. capital stock was increased from
$3,500,000 to
$4,000,000.
In April 1919 the co. issued $350,000 Consol. & Ref.
Mtge
bonds.
Compare V. 108, p. 268.
*
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
$3,474,300
6%
464,000
1916
5 g J-D
1,154,000
Oct 1 1934
red at 105__c*&r/Int. at Merchants' Bank of Canada, N. Y.
Ry & Lt 1st cons
781,000
Bonds.—Sufficient consol. ref. mtge. bonds are reserved for
prior liens
and remainder for additions, &c.
Bonds are guar., p. & 1., by Western
Rys. & Light Co.
Sinking fund retires IM % of bonds outstanding April 1
each year and 1^% of all underlying bonds not
pledged under the consol.
ref. mtge.
Up to Apr. 1 1920, $106,000 had been retired. The Old Colony
Trust Co., Boston, is trustee.—V. 104,
p. 2117; V. 108, p. 268.
($1,000)
Galesb
(13)
Illinois Central Traction Co.—A trolley road
in Illinois in
1903
under
general
railroad laws.
Mostly private right of way
On Apr. 1 1919 issued $245,000 pref. stock at
par.
Compare V.108, p.268.
ORGANIZATION.—Incorporated
-
STOCK AND BONDS—
Common stock $1,100,000
Date.
Interest.
Preferred stock
Outstanding.
$1,100,000
Maturity.
an
mtge,
extension from
Buffalo to
Mechanicsburg, 70-lb. rails.
Has 12 pass,
freight cars, 4 electric locomotives and 2 misc. cars.
OFFICERS.—Pres., W. B. McKInley; Sec., E. A. MacNutt; Treas.
Geo. M. Mattis; Gen. Mgr., M. E. Chubbuck.—V.
84, p. 339; V. 108.P.268.
(14) Jacksonville Railway Sc Light Co.
cars, 6 express cars, 171
ORGANIZATION.—Incorporated in Maine in Dec. 1905 and is a confolldation of the Jacksonville Ry. Co. and the Jacksonville
Gas Light &
Coke Oo.
Franchise perpetual.
Rates.—See
Illinois
Traction
Oo.
above.
STOCK AND BONDS—
Date.
Com stock $500,000 ($100)---
Interest.
Outstanding.
Maturity
$100,000
Pref stock $123,000 outstand'g—All owned
by Illinois Traction Co.
Jack Ry&Lt 1st cons
M,$l,-| 1906
5 g J-J
756,000
Jan 1 1931
000,000,gu,g ($l,000)c*_tfl Central Trust Co., Chicago, Trustee.
;
Jacksonv Gas Light & Cokef
5 J-J
110.000
Jan 1 1931
Co fij^t mortgage
ntfjlnt. at Merchants' Loan & Tr.
Co., Chicago.
1st consols. $110,000 are reserved for prior
liens.
Are guar., p. & L, by Illinois Trac. Oo.
2% of bonds out is payable
annually to a sinking fund.
Are sub. to call on any int. date at 105.
Int. at
Merchants' Bank of Canada, N. Y;
$90,000 Jack. Gas L. <fc O. retired.
ROAD.—Operates about 7.65 miles of track and also does electric lighting
and gas business In Jacksonville.
14 motor cars and 9 others.—V. 95. p.
1542; V. 97. p. 1733, V. 99. 1748.
Bonds i—Ot the $1,000,000
(15) Jefferson City Light, Heat Sc Power Co
ORGANIZN, &C.—Owns majority of stock of Jefferson City Bridge &
Transit Co.
V. 97. p. 1666.
Supplies gas and electricity to Jefferson City,
Mo., and furnishes current for operation of the street railway.
In Nov.
1915 made a 9-year contract with city for street lighting.
Has $200,000
common stock, $195,000 pref. stock, $200,000 1st M.
5% bonds (cpt) due
May 1925 and $189,000 1st Sc ref. bonds outstanding.
(16)
Madison County Light & Power Co.
consolidation In 1909 of the Kdwardsville Light & Power Co. and the
Granite City-Venice Electric Co.
Supplies light and
Is
a
ville,
Granite
City,
Carlinville,
Madison,
Venice,
power to EdwardsWoodriver, Worden,
East Alton and several smaller towns; also electric current to
Livingston
and Williamson, and furnishes gas to Carlinville.
Two of the principal
franchises
are perpetual; none expires earlier than 1956, except the easement
co. operates in Granite
City, which expires in 1925.
In
Dec. 1912 increased its stock from $100,000 to $335,000. Common stock is
all owned or controlled by Illinois Traction Co.
under which the
Rates.—See
Illinois
STOCK AND
Common
stock,
Preferred
Traction
BONDS—
Co.
Date.
above.
Interest.
Earnings.—For
Maturity.
$335,000
$335,000
38,000
1906
5 g J-D
613,000 Dec
11936
gold
c^tf/Int. atagcy. Merchants' Bk. of Canada.N.Y
I
Central Tr. Co. of Illinois, Chic.. Trustee.
Bonds.—Remaining bonds are for exts. and add'ns.
Sink, fund of 1H %
of bonds previously certified began Oct. 1 1916; bonds retired to be canceled.
Guar. p. & i. (end.) by Illinois Traction Co,
Can be called on four weeks'
notice on any int. day at 105.
Earns. Cat. Yr.
1919.
1918.
1917.
1916.
1915.
•
1914.
Gross earnings..$352,749 $322,201 $258,646 $219,191 $179,321
$154,234
Net after taxes..$129,534 $114,083
$96,429
$85,599
$68,496
$64,173
Bond int., &c.__
31,083
31,700
29,860
27,200
26,550
27,790
Property.—Reserve electric power plants in Edwardsville and Oarlinviile,
a gas
plant and gas-distributing system in the latter city; high-tensiOD
transmission lines, sub-stations, &c.' The company purchases, under a
contract extending until 1947, electricity generated in the
power station
at Venice, controlled by the Illinois Traction Co.
($1,000)7
(17) Northern Illinois Light Sc Traction Co.—A trolley road.
ORGANIZATION.—Incorporated In Illinois and was successor In July
1903 to the Ottawa Ry., Light & Power Co., sol under foreclosure.
Fran¬
perpetual for lighting and until 1930
city lighting.
year ending Dec. 31 1919, gross, $524,318; net, after
In 1918, gross, $461,888; net, after taxes, $128,082.
ROAD AND
PLANT.—Operates 6.5 miles of line, covering the prlucipal
of Ottawa, and
runs
out of the city to Ellis Park, a pleasure
streets
resort on the Illinois
River.
Also has extensions from Ottawa to Chautau¬
Park.
Equipment, 8 motor and 3 other cars.
Also does entire elec¬
light and pow#»r business In Ottawa and wholesales power to local
utility companies In La Salle, Utica, Seneca. Morris, and to the Chicago
Ottawa & Peoria Ry.
At Marseilles owns a hydro-electric plant with steam
auxiliary, having a capacity Of 8,000 h. p., and at La Salle has a 4,000 k. w.
turbine generator with auxiliaries.—V. 97, p. 729.
qua
tric
Peoria Railway Co.—A trolley road. I
ORGANIZATION.—Incorporated under general railroad laws of Illinois
In
1906 and is
successor to the Central Railway Oo.
Has acquired, owns
railway lines in Peoria and outlying suburbs of A very ville, Peoria Heights and East Peoria.
The entire stock is controlled by
and controls all street
the Illinois Traction Co.
Franchises In Peoria expire in 1926 and those in
adjoining districts in 1924.
favorable Decision.—On Oct. 26
1911 the Illinois State Supreme Court
reversing the Circuit Court, held that the City Councils could not grant a
franchise to the Peoria Ry. Term. Co. over streets to which the Peoria Ry.
already held a franchise.
V. 93. p. 1535.
Rates.—See Illinois Traction Co. above and V. 108, p. 2630.
STOCK AND BONDS—
Com. stock, 11,010,000
Preferred stock
First & ref mtge,
Date.
$3,600,000,/
gold
($1,000)
Interest.
1906
Outstanding.
$1,010,000
505,000
5 g F-A
Maturity.
-
2,354,000
See text.
c*tf I Interest payable In New York.
tf 1909
5%
908.000
General mortgage.
Feb 1926
Bonds.—Of the
$3,600,000 first and ref. bonds, $291,000 are reserved
75% of cost; $790,000 have been retired.
They are guaranteed, p. & L, by endorsement by the Illinois Traction Co,
The bonds are secured by a first mortgage upon all properties and' ranchises of the Peoria Railway Co. now owned or hereafter acquired.
The
trustee is the
Illinois Trust &
Savings Bank, Chicago, 111.
Remain¬
ing bonds mature on Feb. 1 as follows:
$110,000 in 1921. $115,000 in
1922, $120,000 in 1923, $125,000 In 1924. $130,000 in 1925, and the re¬
maining $750,000 in 1926.
They are subject to call on any Int. date at
105 and Int.
See V. 83. p. 38. 430;V. 89, p. 42; V. 90, p. 560.
ROAD.—Owns and operates 54 miles of standard-gauge crack, 122 motor
cars, 23 other cars.
Also owns valuable property near the centre of city and
considerable other real estate. Including several amusement parks, estimated
to be worth $500.000.—V. 100, p. 902. 1079; V. 101, p. 213; V. 108, p. 2630.
(19)
Quincy Railway Co.
ORGANIZATION.—Incorp. In Illinois in 19.12
franchises mature from
1922 to
the Quincy
as successor to
Horse Ry. & Carrying Oo.
V. 94, p. 1628.
Does entire (electric) street railway business In Quincy,
chise is unlimited, granted In 1865, and exclusively for 50
Principal fran¬
years.
Other
1937
Rates.—See Illinois Traction Co., above.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock, $1,000,000
$1,000,000
Bonds. $1.500.000tf 1912
5%
599.000 Feb. 1 1932
Quincy Horse Ry. & O. Co/ 1898
5%
400,000 Oct
1 1923
($550,000)
\Portland Trust Co., Trustee
The Quincy Horse Ry. & Carrying Co. $400,000 5% bonds originally
matured on Oct. 1 1918, but were extended for 5 years.
Western Rys. & Light Oo.
ROAD.—Operates 22.85 miles of track; 61 cars; 25 one-man cars were
September 1919.—V. 94, p. 1628.
delivered in
St. Louis Electric Bridge Co.
(20)
ORGANIZATION.—Incorporated In Jan. 1907. I Owns a bridge from
Salisbury Street, St. Louis, to Venice, 111.
In April 1909 company In¬
creased capital stock from $2,500 to $1,000,000.
V. 88. p. 940.
Stock all
owned by Illinois Traction.
For franchise provisions, see V. 85, p. 100.
Construction was started in Oct. 1907 and bridge was formally opened
on Nov. 10 1910.
V. 85, p. 100; V. 88. p. 946; V.91.P. 1328.
First mtge. gold (5%),auth.,$3,500.000 ($l,000)tf;outstanding,$2,592.
000; date 1913; due Dec. 1 1929.
E. Bentley Hamilton, Peoria, trustee.
This mtge. replaced the old (temporary) mtge. of 1909.
V. 98, p. 74.
(21)
St.
for railway.
Has contract
owns all the stock.
for
Louis
Electric Terminal
Railway Co.
Owns extensive freight and passenger terminal stations costing about
$5,000,000; also valuable real estate and a 50-year franchise giving the Illi¬
nois Traction
an
outlet in St. Louis.
Also
owns
and operates city cars over
about 18 miles of street railway In Madison, Granite
Fare Increase.—See under Illinois Traction Oo.
STOCK AND BONDS—
Date.
City and Venice.
Interest.
Outstanding.
laturity.
Common, $1,000,000
Ail owned by Illinois Traction Co.
Preferred 5%
$1,000,000
First mtge, $3,500,000. gold! 1909
4-5 F-A
1,724,000 Dec 1 1929
($1,000). guar p & 1
tf/Int. at Merchants' Bk. of Canada, Montreal.
—
Bonds.—First M. (temp.) bonds are subject to call at par on
any
No sinking fund.
day.
(22)
They are
guar., p.
Interest
8c 1., by Illinois Traction Oo.
St. Louis Springfield Sc Peoria RR.
ORGANIZ ATION.—Incorporated In Illinois Dec. 1
1909
as a
consolida¬
tion of the St. Louis &
Springfield Ry., the St. Louis & Staunton Ry., the
Operates on
except through cities and towns (about 17 miles), where
Trl-City, Trac. Oo. and the St. Louis & Northeastern Ry.
private
r
ght of way
franchises
Belt
extend
to
or
beyond
1953.
In
1911
acquired
the
Springfield
Ry.
In 1912
acquired the Peoria Lincoln Sc Sprlngf. Ry. Co., the Peoria Bloom.
Sc Champaign Trac. Co., the Terminal Pow. Co. and the Springfield St
Northeastern Traction Co. (acquired Nov. 1 1913).
Has long-time contracts for use of bridge and terminals of St. Louis Elec¬
tric Bridge Oo. and St. Louis Electric Terminal Ry.. enabling it to operate
directly Into St. Louis
In March 1916 issued $1,000,000 Ser. "A" 5% pref. stock to retire a like
of Gen, Mtge. bonds.
Fare Increase.—See Illinois Traction Oo. above.
amount
STOCK AND BONDS—
Date.
Interset.
Outstanding.
Maturity
$6,000,000
3,572,000
5 J-D
1909
5 043.000 Dec
11939
($1,000 coup & $1,000 or Illinois Trust Sc Sav Bk, Chicago, trustee
multiples reg.)
c*&r* tf Interest In New York, Chicago or London.
St Louis & Springfield 1st M
1903
5 g J-D
451,000 Dec 11933
($1,000) s f gold guar c*.tf Interest at City Trust Co., Boston, trustee.
5%
2.932,000
1939
StLSp&P gen M $l5.000.000tf
1900
5 g J-D
145,000 Dec
11930
Springfield & Northeastern
Traction 1st mtge $1,500,- Int, at agency Merch. Bank of Can., N. Y.
Central Trust Co. of Illinois. Trustee.
000 ($1,000) gold
c*
1906
5 g M-N
Peoria Bloomlngton & Cham
280.006 Nov 1 1930
Trac 1st M $3,000,000 gold Int. at agency Merch. Bk. of Candaa, N. Y.
Central Trust Co., Chicago. Trustee.
($1,000)
c*tf
Common
Outstanding.
stock
1st mtge $1,000,000
chise
Maturiy.
-
245,000
$2,000,000
($1,-1 1903
5 g J-D
1,469.000 Dec
1 1~9~33
000) gold, guar..
c*tf/Int. at Old Colony Tr. Co., Boston, trustee.
Temporary general mort-..tf
5& 6
1,000,000 1929 & 1931
Bonds.—Are subject to call on any interest date on 60
days' notice at
107H and int. Arel guaranteed, p. Sc L, by Illinois Traction Oo.
V. 82,
p. 804.
A sinking fund of 10% of net earnings became operative Dec. 1
1908, but not to be less than 1% of bonds outstanding. $223,000 held in s.fd.
ROAD.—Operates 45.5 miles of track from Decatur to Springfield, with
1st
Outstanding.
-
for additions and Improvements at
above.
Com,, $4,000,000 ($100)
Preferred $500,000
Consol ref mtge, $5,000.0001
V. 97. p. 729.
servative restrictions.
taxes, $138,749.
(18)
80%
Interest.
$398,000
216,000
gold/ 1903
5 g J-J
*668,000 July 1 1923
($500 and $1,000)\Int. at American Tr. Co., Boston, Trustee.
General M ($1.000,000)
6%
174,000
1938
♦All but $265,000 of these bonds are guar., p. & I., by
endorsement, by
Western Rys. & Light Oo.
Bonds.—No sinking fund and bonds cannot be called
Remaining bonds
are for 80% of cost of additions, extensions and new
properties, under con¬
end by Illinois Trac Co..c*l
of the cost of Improvements, &c., to the sub cos., and certain other
restrlc
tions.
Annual sinking fund of 1H% of bonds out began
Sept. 1914
Date.
Preferred stock
First mtge, $1,200,000,
Des Moines Elbe
1st M $5,-i
1908
5 M-N
2,700,000
Nov 1 1938
000,000 ($1,000) s f
tf Interest at American Trust Co., Boston.
Osk T & Lt Co bds $300,000/ 1903
5 g J-J
219,000
Jan 1 1923
($1,000) gold sink funcLc*) Int. at U. S. Mtge. & Trust Co.. N. Y..Trus.
Bonds.—Additional sinking fund gold bonds can only be issued for
23
$6,000,000
($100)
Pref. $3,572,000 ($100) 5%
1st & ref mtge $15,000,000 g
Bonds.—Of the $0,955,000 1st Sc ref. bonds reserved for various purposes,
$145,000 are reserved for Springfield <& Northeastern Traction Co. bonds.
$564,000 to retire prior liens, $2,932,000 to redeem a like amount of general
mortgage bonds and $0,481,000 for 80% of cash cost of additions and ex¬
tensions.
The $0,337,000 and the $2 765,000 for redemption of gen. mtge.
bonds (total $9,269,000), excepting $500,000 (issuable at any time for 80%
can be issued only when, for the preceding 12
months, gross earnings have equaled five times and net earnings lxA times
the interest charge on all bonds outstanding and those proposed to be issued.
Redeemable at 105 on any int. date.
Bonds are unconditionally guar,,
Sc I., by Illinois Trac. Co.
V. 90, p. 304; V. 95, p. 177.
Are listed on
of cost of add'hs & lmpts.)
ELECTRIC
24
M. bonds are subj. to
St. Louis & Springfield 1st
Ohlc. Stock Exch.
&
Inc. date on 60 days' notice at 107H & lot. Are guar., p.
111. Trac. Co.; $215,000 (not incl. in outstanding amount) held in s.
Peoria Bloom. & Cham. Tr. 1st M. bonds are guar., p. & I., by 111.
on
any
call
by
f.
Trac
date at 105 on 30 days notice.
Venice, opposite St. Louis, to Peoria and Bloom
They are subject to call on any Interest
Co.
ROAD.—Extends from
Staunton to Hlllsboro.
10.10 miles belt line, 0.29 miles second
Ington, with branches from
main track,
Trackage, 210.49 miles;
track, 23.06 miles of sid¬
251.53 miles.
freight cars
1302.
ings and turnouts and 7.59 miles of industrial tracks; total,
Standard gauge.
Owns 64 passenger cars, 56 express cars, 488
9 locomotives, 13 miscellaneous cars.
V. 102, p. 68; V. 103, p.
Topeka Railway & Light
(23)
Co.
and owns the Topeka Ry. Co
Topeka Edison Co. (V. 92, p. 730).
These own and
operate without competition the street railway, commercial electric light
and power and steam-heating properties In Topeka and Oakland, Kansas,
Population served (1915 State Census), about 50,000.
Franchises, with
one minor exception, extend beyond Feb. 1 1933.
ORGANIZATION.—Incorp. In Maine
transportation
($100,000), and thus controls the whole field of light and
V. 92. p. 880.
.
#t,nn
On March 18 1914 shareholders authorized the issue of $500,000 new com¬
mon stock.
V. 98. p. 999. 610.
On March 19 1919 auth. common
was increased by 30.000 shares (par $50), the stockholders having the
in Charleston.
stock
right
April 19 1919.
V. 108, P- 1390.
Improvements involving the expenditure of from $/00,000 to $750,000
are now under way.
Compare V. 107, p. 1191.
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity.
8tock, com, $4,500,000 ($50)
Q-J
$4,500,000 See text.
Pref 6% cum, $500,000 ($50)
QJ
£00,000 T See,te?£ko
Charleston
City first mtgel 1898
5 g J-J
/10,000 Jan 1 1923
($1,000), $850,000 goldctf [Int. at Merc. Tr. & S. D. Co. Bait
Consol mtge. gold, $2,500.-1 1899
5 gM;S
1,749,000 Mar 1 1999
000. coupon ($1,000)->*tf J Interest at Baltimore Trust Co.. Trustee
Outstanding.
Maturity.
—
$1,500,000
Preferred stock
584.000
1st lien & ref M $7,509,000 gl 1916
5 g F-A
1,410,000 Feb. 1 1933
($100, $500, $1.000,&c)c*&r*/Int. In N. Y., New York Trust Co.. Trustee
Topeka Edison Co mortgage! 1905
5 J-J
821,000 Sept. 1 1930
$1,250,000
tf jlnt. atCont.&Comm.Tr.&S.B., Chic., Tms.
Topeka Ry mtge (see that co)_ 1904
5 g J-J
1,070.000 Jan. 11930
B'mds.—The 1st Hen and ref. bonds are secured by pledge of the entire
capital stocks and, excepting $1,891,000 underlying issues, all the bonds
of the subsidiary cos.
$2,219,000 are reserved to acquire or retire under¬
lying bonds, and remaining $4,057,000 may be Issued to the extent of 80%
of cost of additions and lmpts. to the properties of the sub. cos., but only
when annual net earnings are \ % times the annual int. charges, Incl. the
bonds proposed and all underlying bonds held by public.
They are guar.,
p. & 1., by the ill. Traction Co. and are red., all or part, on any int. date
Interest.
Date.
Holders
Co.—Controlled by Topeka Ry. & Light Co.
efore.
V. 76. p. 866,
glratlon of franchise city1302. the right to acquire the property, but not
has On June 26 1916 authorized capital stock
Dec.
1917 the
V, 103, p. 62.
auth. to issue $81,001
of paying off outstanding obligations
Up to April 1 1920 these had not
to $2,250,000.
Kansas P. U. Comm. granted
been Issued.
Fares.—In
V.
107, p.
Sept.
1005.
1919
was
auth. to charge a 6-cent fare.
Date.
Interest.
Compare
Maturity.
Outstanding.
$1,250,000 f.p
Stock, $2,250,000 ($100)-.-.
gold? 1904
5 g J-J
1.070,000 Jan 1 1930
($1.000)
c* tf 1 Int. at Cont.& Comm.Tr.& S.B.,Chlc.,Trus.
First & Refunding bonds
/ 1916
5%
See text.
Feb 1 1933
[New York Trust Co., Trustee.
Bonds.—Remaining bonds are reserved for 80% of cost of new power¬
house and for betterments and additions.
Subject to call at 105 and int.
$180,000 have been retired.
A sinking fund began Jan. 1 1910, which Is
sufficient to retiVe $15,000 per annum at 105 and interest.
$120,000 bonds
of 1916 are deposited as collateral with the Topeka Ry. & Lt. Co.
First
or
&e.»
formerly the Seashore
lighting business.
ROAD, &c.—Owns 10 miles
mtge, $1,250,000.
the year end. Dec. 31 1919, gross, $542,150; net,
int.,
$63,972; surplus, $63,171. i918, gross, $450,081; net,
int., $61,000; surplus, $63,418.
ROAD.—See Topeka Railway & Light Co. above.
OFFICERS.:—Pres., W. B. McKinloy, Champaign, 111.; V.-P. & Treas
Geo. M. Mattis, Champaign; Sec., E. A. MacNutt, Montreal.—V. 90.
p. 915, 978; V. 103, p. 62; V. 104, p. 74; V. 107. p. 1005; V. 108, p. 380.
EARNINGS.—For
$127,143;
$124,418;
(241 Wichita Railroad & Light.—Trolley.
ORGANIZATION.—Chartered May 1 1900 for 30 years.
to
Coast,
Atlantic
OFFICERS.—Pres..
James
96. p. 201, 862.
V.
I. Blank.—
f
__
WEST VIRGINIA.
INTERURBAN RR.
' ORGANIZATION.—incorp. in 1909 with $100,000 capital stock which
was increased on Nov. 10
1914 to $1,500,000 in part for the purchase of
the Charleston Traction Co., a line from St. Albans to South Charleston,
taken over as of that date, and in part as a stock dividend, all earnings since
Incorporation having gone into extensions and betterments.
Lease.—Leases the Kanawha Valley Traction Co. (whose $500,000 capital
stock Is owned by the Ohio Valley Electric Ry.) for 99 years from Jan. I
1910 at an annual rental beginning with $10,000 the first year and in¬
creasing to$20,000 in 1916 and thereafter, and has assumed that company's
M. bonds.
Franchise of the Traction
1st
interurban lines are
Co. in the city of Charleston expires In 1954;
operated almost entirely on private rights of way.
secured notes to refund a like
that time. V. 108, p. 1164.
Date.
Interest. Outstanding.
1919 issued $450,000
In Mar.
1-year 6% notes due at
amount of
Maturity,
$1,500,000 See text
8TOCK AND BONDS—
Stock. $1,500,000 ($100)
Secured notes ($500 & $1,000)
/I919
6 g M-S15
450,000 Mar 151922
gold
c*\Safe Deposit & Trust Co., Baltimore, Trus.
Kan ValTr 1st M. $2,000.0001 1906
5 g J-J
1,100.000 Jan 11946
($1,000) goldc
_____ tf f Int.
at Fidelity Trust Co., Phila.. Trustee.
Bonds.—Payment of prin. and int. of the Kanawha Val. Trac. Co. bonds
.
been
has
assumed
by the Charleston
Interurban RR. $600,000 of the
by the Charleston
security for the notes issued
Interurban RR.
'
$600,000 (assumed) Kanawha
.
„
Notes.—Secured by deposit of
Red., all or in part, at 100M
date upon 60 days' notice.
EARNINGS— Gross.
Net (after
Bmd.&c.
Cat. Year—
Earnings.
Tares).
Interest.
1918—
>.$578,189
$234,995
$114,116
1917
418,855
176,215
95.523
1916
326,149
162,602
88.812
tion Co. 1st M* bonds.
_
m
Valley Trac¬
and int. on any int.
Balance.
Rental.
Surplus.
$20,000
$100,878
20,000
60,691
20,000
53,790
ROAD.—Operates 40.5 miles of track between St. Albans and Cabin
Creek.
Line Is to be extended to Montgomery, about 10 miles further on.
70. 80 and 100-lb. T and girder rail.
Standard gauge. 40 passenger cars
(all of P-A-Y-E type), 5 freight cars and 2 trailers.
Power is obtained from
the
Virginian Power Co.
under long-term contract.
OFFICERS.—Pres., W. A. MacCorkle; V.-P. & Sec.,
Treas., A. M. Hill; Gen. Mgr.. I. N. Smith.—V. 105, p.
1125; V. 108, p. 1164.
8fcreet rail¬
CHARLOTTE, N.
franchise expires 1933.
In 1910 entered into a 20-year contract for
power from Kansas Gas & Elec. Co.
■ ;>.The $300,000 1st M. 5s due Oct. 1 1919 were paid off at maturity, a like
amount of ref. & cons. M. 5s being issued in connection therewith.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Com stock, $1,500,000 ($100)
$300,000
Pref. stock ($100)
300,000
Ref.&cons.M.,$1,500,000,g.tf. 1907
5 g A-0
1.493.000
Oct 1 1932
Bonds.—1st, M. bonds are subject to call at 105 on 6 months' notice.
ROAD.—Owns 32 miles of trolley track in Wichita, Kan., Including
double-track bridge over the Arkansas River and extensions to Wonderland
Park and Fair Grounds: 107 cars.—V. 93. d. 941. 1192.
SOUTHERN PUBLIC UTILITIES
Allied with the Southern Power Co.,
dustrial" Section.
F. M. Staunton
1208; V. 106, p.
C.
CO.
^
which see In our "Railway and
In¬
ORGANIZATION.—Incorp. in July 1913 In Maine as a consolidation
Electric Ry., Charlotte Gas & Electric Co. and Charlotte
forming prior to Jan. 1 1911, the Charlotte Electric
({v.. Light & Power Co., which company issued the bonds shown in the
»nble.—See "Electric Ry." Sec for May 1915)- Greenville (8
O.) Gas &
Electric Light & Power Co.; Greenville Traction Co.; Greenville Carolina
Power Co.; Fries Mfg. & Power Co., Winston-Salem, N. C.; Winston-Salem
Power Co.; Anderson (S. C.) Water, Light & Power Co., Chester (S.'C.)
Power Co., Thomasville (N. C.) Power Co., Greer (S. C.) Light & Power
Co., Thornton Light & Power Co., (Hickory, N. C.) and City of Reidsville
Light & Power Plant, Reidsville, N. C.
The Charlotte Elec. Ry. in May
1915, through an amendment to its charter, reduced its capital stock from'
$1,250,000 to $1,000.
Franchises with one minor exception are either unlimited m time or run
beyond July 1943.
Fare Increase.—In Aug. 1918 was auth. by the North Carolina Corpora¬
tion Comm. to increase fares from 5 to 7 cents on lines in Charlotte and
Winston-Salem. V. 107, p. 502.
The city of Charlotte appealed from this
order of the Comm. but the North Carolina Supreme Court in Dec. 1919
affirmed the decision of the Mecklenburg Superior Court permitting the
company to charge 7 cents. V. 110, p. 79. In Sept. 1918 the municipalities
of Greenville and Anderson, S. C., also auth. an increase in fares from
5 to 7 cents (or 4 tickets for 25c.), effective Oct. 1 1918.
jf the Charlotte
_
CHARLESTON,
boats.
Sottile; V.-P. & Gen. Mgr.,
CHARLESTON,
purchase of
CONSOLIDATED
(connecting by ferry with
of Palms, a pleasure resort on
Palms, ferry, power house on
Pleasant, &c. Owns and oper¬
CHARLESTON
way
CHARLESTON
from Mt. Pleasant
Sullivan's Island and Tsle
Incl. land at Isle of
Sullivan's Island and sub-station at Mount
ates 19 pass, and 3 freight cars and 2 ferry
Charleston)
the
bonds have been deposited as
STOCK AND BONDS—
TRACTION CO.
CHARLESTON-ISLE OF PALMS
ORGANIZATION.—Incorp. in 8. C. Jan. 9 1913 with auth. capital
$1,000,000, to build railroads, steam or electric, street railways,
operate steamboats, and to take over what was
division of the Charleston Consol. Ry., Gas & El. Co. Also does electric-
ORGANIZATION.—Incorp. under general railway laws of Kansas In
In 1903 absorbed the Vinewood Park Ry., and made a new mtge. for
$1,250,000.
On June 4 1903 obtained a new 30-year franchise, running from
that date, with the provision that $400,000 be expended within 3 years on
the system.
Also has secured franchises In perpetuity on county roads now
occupied, with privilege of hauling freight.
City agrees never to reduce
rates to where company will earn less than 10% on stock.
The city is to
receive 10% of earnings remaining after 10% has been earned.
Upon ex-
Increased from $1,250,000
miles of electric road
has consolidated Its two power stations;
power divisions are being operated from same
1892;
In
guaranteed under lease above.
in Charleston. The com¬
both railway and light and
station.
OFFICERS.—Pres.. Philip H. Gadsden; V.-P., Theo. W. Passailaigue;
Sec. & Treas., Chas. J. Bendt; Asst. Sec.-Treas., M
O. C. Tessier. all of
Charleston.
Offices, No. 141 Meeting St., Charleston.—V. 108. p. 1390.
ROAD, Ac.—Owns 37.51
real estate.—V. 104. d. 74.
1st & ref. mtge. bonds for the purpose
and for extensions and betterments.
105 and interest.
Dividends.—See dividends
began Aug. 1 1917 of 1J^% per ann. to
of the total amount of bonds outstanding
(Incl. underlying bonds), less amounts paid on account of sink. fund, re¬
quirements of underlying mtges.
(It Is estimated 32% of the $3,250,000
outstanding bonds will thus be retired Feb. 1 1933.)
$65,000 in sinking
fund April 1 1920.
Bonds in fund are held alive.
The Topeka Edison
Co. bonds have a sink, fund of $15,000 per ann., payable Dec. 15 $180,000
bave been retired.
Beginning with the 2-year period ending May 31 1918,
and during each 2-year period thereafter, there must be set aside for
maintenance and depreciation an amount averaging 12% of the combined
annual gross earnings of the subsidiary cos.
V. 104, p. 74.
EARNINGS.—Year ending Dec. 31 1919, gross, $1,101,336; net, after
taxes. $290,037; Int.,
$156,060.
In 1918, gross, $918,821; net, after
taxes, 259,221; int., $158,359.
PROPERTIES.—39 miles of electric street railway, largely 70 to 79- b.
Trails; 51 double and single-truck motor cars, 28 trailers; power plant, gen¬
erating capacity, 5,893 h.p.; 255 miles of power and iight-dlstrlbutlng Urns
and 8,300 meters; exhaust steam system for heating purposes; miscellaneous
was
Carolina Savings Bank and People s
presented before the 10th of the month.
5s, $710,000 are reserved to retire a like
Charleston City 1st 5s have a sink, fund of
for the purchase or redemption of said bonds
collect coupons at
pany
and Incl. 1929 and 1% thereafter
(a) Topeka Railway
also
exceeding $7,350 per ann.
not
at
fund
Sinking
can
National Bank, Charleston, if
Bands.—Of the consolidated
amount of City Ry. rirst 5s.
—
at 105 and Int.
subscribe pro rata until
to
(see below) and the
STOCK AND BONDS—
Common stock
[VOL. 110.
RAILWAYS.
Power Co. (these three
S. C.
RAILWAY & LIGHTING CO
Co. owned $1,400,000 common
As of Dec. 31 1918 the United Gas Impt.
t
and $449,650
pref.
stock.
ORGANIZATION.—Incorporated In South Carolina on April 19 1910.
Leases for a period of 99 years from June 21 1910 the Charleston Cons. Ry..
Gas & Elec. Co.
Lease guar. 6% on pref. and 4% to July 1 1911. 5% to
Jan. 1 1913 and 6% thereafter on com. stock;
also int. on outstanding
bonds of the Char. Cons. Ry., Gas & Elec.
Rates.—As a result of a compromise with the city, cheaper gas, electric
light and power rates were put into effect Nov. 1 1912.
V. 95. p. 1206.
Application for Rale Increase.—On April 1 1918 was auth. by the City
Council to increase gas rates from $1 to $1 10 per 1,000 cu. ft.
Fares.—On May 14 1918 the City Council rejected the co.'s application
for auth. to increase fares from 5 cents to 6 cents.
Maturity.
$6,000,000
4.487,000 July 1 1943
($l,000,$5.000.<fcc.)c*&r*.tf J Int. at Farmers' L, & Tr. Co., N Y.t Trustee
(1)
Charleston
Consolidated
'st & ref M
Underlying Bonds—
Ry. L & P 1st
Ry., Gas & Electric Co
Co. owned $1,322,300 common
1899 as a consolidation of tht
Seashore RR, under Special Act of
charter and gas & elec. light powers
In Oct. 1912 sold to James Sottile the Seashore division, incl. wharf prop®rUes, ferryboats, the railroad line from Mt. Pleasant to the Isle of Palms,
with its equipment, and the power house on Sullivan Island.
Sale was auth
by an Act of the Legislature approved Feb. 12 1913 and formal transfer
was made Mar.
15 1913.
V. 96. p. 862.
See Charleston-Isle of Palrnf
ORGANIZATION.—Organized Feb. 21
Bonds of
Charleston City Ry. and Charleston &
So. Car. Legislature, granting perpetual
perpetual.
Also owns the capital stock of the Charleston
Charleston-Edison Light & Power Co.
Ml
1899
Controlled, &c., Cos.—
g\ 1905
5 g M-N
tf/lnt. at Old Colony
265,000 May 1 1935
Tr. Co.. Boston, trustee
Bonds.—Of the 1st and ref. bonds, $1,567,500 are reserved for prior liens;
remainder issuable for 70% of cost of extensions and acquisition of other
properties.
Redeemable in whole or in part at 105 and Interest.
The
Charlotte Electric Ry., Light & Power 1st M. bonds have a sinking fund,
operative July 1 1900. of 1% of bonds out; to be invested in bonds drawn
bt* lot at 107H and int., if not obtainable at lower figure in
open market;
*57,000 have been canceled.
The ref. and ext. mtge. bonds have a sinking
Greenv-Caro Power 1st M
($1,000)
Traction Co. below.
are
Outstanding.
$500,000 g ($1,000) sf c*ntf; Int. at
Ohar Elec Ry, L & P ref & extV 1906
As °f Dec. 31 1918 the United Gas Impt.
Franchises
Interest.
5 g J-J
5 g J-J
313.000 July 1 1929
Merc. Tr. & Dep. Co., Bait.. Trustee.
5 A-O
452,000 April 1 1935
M $2,000,000g ($l,000)c*tf)Int. at Merc. Tr.& Dep. Co., Bait.,Trustee.
HYies Mfg & P 1st M goldl
1900
5 g J-J
456,000 Jan 1 1910
($1,000) optional at 110
/int. at Equitable Tr. Co.. N. Y.t trustee.
\nderson Water Lt & P Co
249,500
j..
Winston-Salem Power Co
54,000
Ohar Elec
and $457,900 pref. stock.
<3f,s Light Co. ($698,150) and the
BONDS—
Date.
($100)
$30,000,000 goldV 1913
STOCK AND
Stock $6,000.000
Authorized. Outstanding, Dividends
Common
$50
$1,500,000 $1,500,000
None
Preferred—
50
500.000
500,000
None
OFFICERS,—Pres., P. II. Gadsden; V.-P., Walton Clark; V.-P., Lewis
Llliie; V.-P. & Asst. Sec., C. M. Benedict; Sec., G. W. Curran; Treas , I
W.
Morris): Asst.
Sec.-Treas., M. O. C. Tessier; And.; Chas. J. Bendt.
V. 106, p. 2227; V. 108, p. 877; V. 109, p. 2355; V. 110, p. 1642.
Par.
STOCK—
'
ELECTRIC
APE., 1920.]
fund operative April 1907 of 1% of bonds issued, for purchase of bonds at
10734 and int., if obtainable; otherwise, such investments as trustee deems
proper.
V. 88, p. 1252.
$33,000 have been retired.
A sinking fund of
1% on the Greenville-Carolina Power Co. bonds began May 1 1910.
EARNINGS.—For years ending Dec. 31:
Year—
Gross.
Net,aft.Taxes. Deprec.
1919
$2,815,358
2.501.762
1918
Bal.,Sur.
$54,224
363.186
Bond Int.
3316,060
316,860
$260,000
171,000
$630,284
851,046
PROPERTY.—Operates 70 miles of street railway; 60, 70 and 90-lb. T
Power and light primary lines aggre¬
gating 1,644 miles and serving 16 communities; 2 gas plants, serving Char¬
lotte and Greenville with 87.5 miles of mains; water plant serving Anderson
with 26 miles of mains. Leases Savannah Power Co. s plant near Anderson;
capacity, 3,000 h.p.
Total capacity of plants operated, 24,000 h.p., of
which 19,000 h.p. is hydro-electric generation.
Also has favorable con¬
tract with Southern Power Co. for the purchase of additional power.
and girder rails; gauge, 4 ft. 834 in.
OFFICERS.—Pres.. Z. V. Taylor; V.-P., A. V. Harrill;
Sec.. W. O.
Parker; Asst. Sec., J. R. Cherry; Treas., E. C. Marshall; Gen. Mgr.. E. F.
Taylor.—V. 101, p. 1886; V. 104, p. 1046; Y. 107, p. 502; V. 110, p. 79.
PIEDMONT & NORTHERN RY.
ORGANIZATION.—Incorp.
on
Feb. 24 1911 In South Carolina, and on
about July 1 1914 took over the properties of the Piedmont Traction Co.
or
and the Greenville Spartanburg &
Anderson Ry. Co.
The system as pro¬
jected is to extend from Durham, N. C., to Greenwood, S. O., 320 miles.
Power is obtained from Southern Power Co., which is controlled by the
same
interests.
Government
under the
E.
•
Control.—This
came under
Government control
28 1917.
V. 105, p. 2509.
appointed Federal Manager and E. F
property
President's proclamation of Dec.
H. Coopman was subsequently
Parham, Federal Treasurer.
STOCK AND BONDS—
Stock
$15,080,000
First
mortgage
M
coll
Interest.
($100)
$50,000,000] 1914
notes
Outstanding.
$8,584,600
5 g J-J
Maturity.
1 1954
36,000 July
c* ntf lint, at Farmers' Loan & Tr. Co.,N. Y.,trus.
($1,000), gold
1st
Date.
$8,500,000/ 1914
5 g J-J
1 1919
6,286,900 July
($1,000 & $100) not inter\Int. at Farmers' Loan & Tr. Co., N. Y., trus.
Stock.—$1,415,400 additional stock is held in treasury.
Bonds.—$10,000,000 are pledged as security for the $8,500,000 notes.
Red. at option of co., in whole or part, any int. date since July 1 1914 at
105 and int.
Of the notes $500,000 are pledged as collateral and $1,713,100
are held in treasury; those reported outstanding, it is stated, have been
taken privately by the subscribers to the road.
g
EARNINGS.—For cal. year 1919,
$437,557; interest, &c., $401,724; bal.,
in 1919, 1,816,618.
$453,681; net, after taxes,
$592,525.
Passengers carried
gross,
sur.,
ROAD.—Owns and operates 2334 miles from Charlotte to Gastonia
89.90 miles Spartanburg to Greenwood, S. C., with branches from Belton
to Anderson, 11.30 miles, and from Belmont Jet. to Belmont, 3.19 miles
(opened March 1 1916), total mileage of track operated, incl. spurs and sid¬
ings and 10.50 miles operated under contract, 204.69.
Two army training
camps were located on the company's lines during 1917—Camp Sevier,
5 miles north of Greenville, S. C., and Camp Wadsworth, 5 miles south of
Spartansburg.
Equipment consists of 23 motor-driven passenger cars; 16
trailers, 2 observation parlor cars, 8 baggage and express cars, 157 freight
cars, 3 street cars, 12 electric and 1 steam engine and 10 work cars.
OFFICERS.—Pres., Z. V. Taylor; V.-P., W. S. Lee; Sec., N. A. Cocke!
& Treas., T. L. Black, all of Charlotte.—V. 105, p. 2453; V. 107.
78, 502, 1837. V. 110, p. 872.
(
Aud.
p.
25
RAILWAYS
1st Mtge. 5s is also in default and the holdors of the $1,219,000 3-year
734 % notes were notified that the March 1 1919 int. due thereon would not
be paid.
V. 108. p. 971.
Sept. and Dec. 1919 int. on these notes was also
defaulted.
V. 109, p. 1271.
The int. due April 15 1919 on the $2,527,000
A. E. & C. Ry. 1st M. 5s of 1901 was paid in July 1919, together with int. on
the deferred payment to July 5 1919.
V. 109, p. 71.
The following com¬
deposits of the 1st & Ref. 5s and the 3-year notes:
1st & Ref. 5s and 3-Year Coll. Tr. 734 % Notes.—Chairman,,
Lewis B. Williams, W. T. Goodale, A. B„
Oonant; Secy., A. E. Pfahier, 319 North Amorican Bldg., Phila., Pa.
Depositaries: Girard Trust Co., Phila.; International Trust Co., Boston;.
Citizens' Savings & Trust Co., Cleveland, O.
V. 108, p. 971, 2021.
mittee has called for
Committee for
R. M. Stinson; Geo. H. Stuart,
Financing.—In Aug. 1918 the co. created a new issue of $1,219,000 3-yr.
734 % Coll. Trust notes dated Sept. 1 1918, secured by 1st & Ref. M. bondsCorp. agreed to loan the co. $219,000 provided:
(1) That the maturity of the $1,546,000 outstanding Elgin Aurora & South¬
ern Traction Co. bonds be extended from June 1
1919 to Sept. 1 1921.
at 75 and the War Finance
(2) That the banks holding the co.'s $237,500 unfunded notes subscribe for
$200,000 of the new 734 % notes at par and accept the co.'s unsecured notes
(3) That the holders of the $800,000 6% Coll. Trust notes
maturing Sept. 1 1918 exchange their notes, par for par, for the new 734 %
notes.
V. 107, p. 905.
In March 1919 we were informed that this plan
of financing had been carried out.
for the balance.
Litigation.—On Jan. 23 1919 the co. brought suit in the U. S. Dist. Court
Chicago against the 111. P. U. Comm., seeking to enjoin the Commission,
enforcing its order fixing 2 cents per mile as the maximum fare.
V. 108, p. 478.
On Feb. 6 1919 Judge Landis in the U. S. District Court
at Chicago agreed to grant an injunction restraining the P. U. Comm.
from enforcing the 2-cent fare limit, but in June 1919 ordered that the rateof fare be 2 cents per mile for round-trip tickets. V. 108, p. 2329.
at
from
STOCK AND BONDS—
1918
734%
1,219,000 Sept. 1 1921
1901
5 e A-0 15
2,527,000 Apr 15 1941
gold{Cont. & Comm. Tr.& Sav.JBk.,Chic., Trus.
cannot be called
tf [Interest payable in Chicago and New York.
Elgin Aurora & Southern firstf 1901
5 g J-D
1,548,000 Sept. 1 1921
mtge., $2,000,000 ($1 000){Int. at Cont. & Comm. Tr. & Sav. Bk., Chigold, sinking fund
c*tf i
cago, Trustee, and First Nat. Bk., N.Y.C*
Coll trust notes
E
A
&
O
Ry first mortgage!
$3,000,000
($1,000),
Stock.—Pref. stock
was
tions, under rigid restrictions.
They are not subject to call now.
See V.
88, p. 1618.
Collateral trust notes are secured by deposit of $1,656,000 1st
and ref. mtge. 5% bonds.
On the Aurora Elgin & Chicago Ry. bonds a
sinking fund of $50,000 per ann. began on April 15 1911.
See V. 74, p. 726.
$473,000 have been retired.
The Elgin Aurora & South, bonds originally
matured June 1 1916 but were extended to June 1 1919 and again to Sept. 1
CHARLOTTESVILLE & ALBEMARLE RY.
ORGANIZATION.—Organized in Virginia and formed by an agreement
pany with a short Intorurban railway as an adjunct.
Light
chises are perpetual; County Ry. franchises are perpetual,
chise expires in 1944.
Fare Increase.—On
Apr. 16 1918
was
and power fran¬
while city fran¬
auth. by the Va. Corporation Comm.
and to increase children's tickets
1688.
eliminate the 6-for-a-quarter tickets
V. 106,
234 cents to 3 cents.
STOCK AND BONDS—
p.
Outstanding.
Maturity
$500,000 Dec *19,234
J-D
122.700 Dec *19. 334
1915
6 g A-O
381.000 April 1 1943
($1,000)
c*cpt/Interest payable In Baltimore, Md.
Bonds.—Additional bonds may be issued only for 85% of cost of impts.
and exts. and only when net earnings for the past 12 months are equal to
twice the interest oharges on the bonds outstanding and those to be Issued.
A special depreciation and reserve fund is provided out of gross earnings
for maint., &c.
$19,000 (not incl. in amount outstanding) are held in
the treasury.
Red. at 105 and int. on 60 days' notice
V. 100, p. 1436.
Dividends.—7% per ann. Is being paid on pref. stock.
On common first
div. of 2% and 1% extra paid in June 1916.
In Dec. 1916 paid 234%In 1917, June, 234%; Dec., 2%.
In 1918, Dec., 1%.
In 1919, 5%.
Date.
2122.
1921; remaining $454,000 held in sinking fund. V. 108, p.
Dividends.—First dividend on pref.—134%—paid July 1906 (V. 82, p.
1436), and the same amount quarterly up to and including April 1909.
July 1909 dividend increased to 134% and same amount paid quar. to
Aug. 1 1915.
Oct. 1915 div. omitted, (V. 101, p. 1012) and none paid since.
On common, first dividend—34%—Get. 7 1907.
In 1908 to 1913, incl.,
3% yearly.
In 1914, Jan., % %; April, % %; July, % %; Oct. div. deferred
(V. 99, p. 894, 968), and none paid since.
ending Dec. 31 1918 (V. 109, p. 369):
Net {after Other
Deauc-
Interest.
Common stock $500,000 ($100)
Pref stk 7%cum$200,000($100)
First mortgage $750,000 goldl
o
t
Bal., Sur p.
Gross
of consolidation dated Nov. 24 1913 between the Redland Power Corpora¬
tion and the Charlottesville & Albemarle Ry.
A lighting and power com¬
from
April 1 1909; since
6% cum.
(originally $25,000,000. but reduced In 1910)
5% cum. until
Bonds.—Of the $15.00'),000
1st & ref'g bonds, $1,659,000 are in treas., $4,135,000 reserved for prior liens
and the balance for improvements, extensions and self-supporting acquisi¬
REPORT.—For year
CHARLOTTESVILLE, VA.
to
Outst'd'g. Div.&due date
Interest.
Date.
Common, $3,10\000 ($100)
Q-J
$3,100,000
See text.
Pref $3,100.000($100) 6% cum
Q-J
3,100.000
See text
First and refunding mortgagef 1906
5 g J-J
3,079,000 July 1 1946:
$15,000,000, goldl ($1,000){Int. at CIt. Sav. & Tr. Co.. Cleve.. and also
See text
c*&r*tf 1
in N. Y.
Trustee, North. Tr. Co., Chic.
Year ending—
Earnings.
Taxes). Income.
Hons.
for Year.
Dec. 311918
$2,140,355
$262,672 $125
$516,706
def.$253,908
Dec. 31 1917
2,159,349
595,449
193
502,546
93.096
Latest Earnings.—Receivers report for period from Aug. 9 1919 to Dec. 3i
1919 shows gross revenue, $958,148; net,
after,
taxes,
$15,308; deductions,
$222,945; bal., def., $207,637.
ROAD.—Operates from 5th Ave. station in City of Chicago, over tracks
of Metropolitan West Side Elev. road, to 52d Ave., Chicago; thence on its
own line to Wheaton, with lines from Wheaton to Elgin, Batavia, Geneva
and Aurora; also from Elgin to Carpentersville, Dundee, St. Charles,
Geneva, Yorkville and Bristol, and a line from Wheaton through West Chi¬
cago
to Geneva.
Total single track, 169 miles.
Third rail, standard F,
100 lbs.; track rails, 80 bs.: interurban and city lines, 60-100Tb. T and girder
rails; 142 passenger cars; 7 express cars; 6 snow plows and sweepers; 7 misc.
cars; 47 freight cars; total cars, 210.
V.-P.. M. J. Mandelbaum;
for the Receiver); Edwin C. Faber,
OFFICERS.—Pres., L. J. Wolf, Cleveland;
V.-P, and Gen. Mgr. (also Gen. Mgr.
Wheaton, 111.; Sec. and Treas., H. C. Lang, Cleveland; Asst.
Asst. Treas., H. J. Manning.
Executive offices, Guardian
land. O.—V. 108, p. 577, 682, 971, 2021, 2122, 2329, 2628;
369, 675, 774, 1271, 1890, 1985, 2355; V. 110, p. 166.
Sec., A. Born;
Bldg., Cleve¬
V. 109, p. 71,
.
EARNINGS.—For years
Year—
Gross.
Net.
122,231
120,120
1917
ROAD.—Miles
Chgs.
$33,115
32,031
29,236
Other Inc.
$73,851
53,203
60,279
1919 —.$153,011
1918
ending Dec. 31:
$761
757
264
Pref. Div.
Surplus.
$8,589
8,589
8,589
$32,908
13,340
22.719
3.45; standard gauge.
Rails, 83 and 97-Jb.
1 sub-station.
10 cars.
1 power station.
of track,
girder and 50-1 b. T.
Norman James; V.-P., John L. Livers; Sec.
Treas., W. R. Morton.—V. 103, p. 2428; V. 106, p. 606, 1688, 2289.
OFFICERS.—Pres.,
&
CHICAGO
SURFACE LINES.
Surface Lines the properties of the Chicago
Railways Co. and the Chicago City Railway Co. are now being operated
single system under the control of a joint board of operation in accord¬
ance with an agreement between the two companies and the unification
ordinance which became effective Feb. 1 1914.
While under the terms of
this ordinance and the agreement the ownership of the properties remains
entirely separate and distinct, the combined earnings are divided upon an
agreed basis.
For the two years ending Jan. 31 1916 the Chicago Railways
Co.
received
as
its share 59% of the income remaining after the pay¬
Under the title of Chicago
as a
operating expenses, including taxes and maintenance, the other
of the income going to the Chicago City Ry. Co., Including the
Ry. and the Southern Street Ry., and, begin¬
ning with Feb. 1 1916 and until the expiration of its franchise in 1927, the
Chicago Railways Co. will receive 60% of the so-called "residue receipts,"
and the Chicago City Ry. (including the Calumet & South Chicago and
the Southern Street Ry.), 40%.
The plan provides for a 5-cent fare
throughout the city on surface lines, also through routing of cars from one
division of the city to another.
See details of the ordinance and the
agreement for unified operations under date of Dec. 1 1913 in V. 98, p.
1693.
An order permitting the State Attorney to file quo warranto pro¬
ceedings to question the legality of unification ordinance was denied In
ment of all
41%
Calumet & South Chicago
CHICAGO,
ILL.
ELGIN & CHICAGO RR.—Third-rail electric and trolley
Receivership.—On Aug. 9 1919 Judge Evan A. Evans of the U. S. Circuit
Court at Chicago appointed Joseph K. Choate receiver for the co. on appli¬
cation of the General Electric Co., holder of a bill for $3,216, which it
AURORA
alleges it was unable to collect.
Two other creditors for smaller amounts
joined in the petition.
It was also set forth in the petition that the co.
had defaulted on $38,650 gold bonds due the Cont. & Comm. Trust & Sav¬
ings Bank, Chicago, June 1 1919, and the interest due March 1 1919 on a
debt of $45,713 owing a Cleveland bank.
It also stated that $76,975
mtge. bonds had been defaulted. V. 109, p. 675.
Foreclosure Proceedings.—in Nov. 1G19 it was reported that the Northern
Trust Co., Chicago, had filed a foreclosure suit against the co. V.109,p.1890.
ORGANIZATION.—Is
&
Chicago Railway,
a
consolidation in April 1906 of the Aurora Elgin
the Elgin Aurora & Southern
Traction Co. and the
1155.
Chartered in
L.J. Wolf, in a letter
1618),stated that system is "in the main on
Cook County «5c Southern RR.
V. 82, p. 279, 691,
Illinois under law applying to steam railroads.
Pres.
dated
May 20 1909 (V. 88, p.
Brlvate right of way or protected by 50-year franchises or grants without
mlt."
Does freight and express as well as passenger business.
V. 83.
p.
to
490.
Has exclusive contract with the Metropolitan West Side Elevated
operate over its tracks.
Stockholders voted Oct. 18 1910 to purchase the Chic. Wheaton & West¬
ern
Ry., which runs from West Chic, to Geneva, abt. 10 miles.
V. 91. P.517
Fares.—On Feb. 1 1918 the 111. P. U. Comm. auth. an increase in fare of
5 cents on the co.'s lines between Aurora and Chicago and between
and Batavia, and a straight 5-cent fare within the city limits of
and Elgin.
V. 106,
p.
increased to 6 cents.
power
Aurora
Aurora
On July 5 1918 faros in Aurora and Elgin were
At the same time lighting rates were increased 25%,
714.
rates 33 1-3% and freight rates 25%.
V. 107,
p.
905.
In Sept. 1918
increase of 25% in passenger rates was auth. by the I.-S. C.
V. 107, p. 1098.
In Jan. 1920 was auth. by the 111. P. U. Comm. to
fares in Elgin and Aurora from 6 to 8 cents. V. 110, p. 166.
an
Comm.
increase
Payments.—The July 1 1918 interest on the $3,079,000 1st &
paid Oct. 15 1918.
V. 107, p. 1579.
Compare V. 106,
1 1919 interest on these bonds has been deferred on ac¬
The management has expressed
operating expenses.
the belief, however, that with a readjustment of suburban rates the com¬
pany will be restored to its pre-war condition. V. 107, p. 2374. The July 1
1919 int. on these bonds has also been deferred. V. 108, p. 2628.
The
Dec. 1 1918 int. on the $1,546,000 Elgin Aurora & Southern Traction Co.
Interest
Ref. M. bonds was
p. 2648.
The Jan.
count of increased
March
1915.
V. 100.
Statement Showing
p.
p. 1078.
Shrinkage in Market Value of
.
,
1M
Tr
„
.
Securities.—See V. 108,
1822.
Ordinance
to
Unite Surface and Elevated Lines.—See remarks under
Chicago Elevated Railways.
Application to Carry Freight.—See under "Chicago Elevated Rys*
Decision.—On April 19 1917 the 111. Supreme Court upheld the right of
the State Public Utilities Comm. to regulate street car service in Chicago
,
_
regardless of the provisions of the
_
„
contract ordinances of 1907 between
the
Pursuant to this opinion a
of the
Comm., which was affirmed by the 111. Supreme Court.
An appeal was
taken to the U. S. Supreme Court which held that the decision of the Illinois
Supreme Court was conclusive.
L Fares.—In Nov. 1918 the cos. applied for auth. to increase fares to 7
cents.
On April 25 1919 the 111. P. U. Comm. denied this petition. V.108,
p. 1822. The co. filed a new petition, however, and on Aug. 6 1919 the
Comm. auth. the co. to charge a 7-cent fare effective from Aug. 8 1919 to
Feb. 1 1920.
V. 109, p. 577.
Results of increase, see V. 109, p. 1179.
On Oct. 2 1919 Judge E. S. Smith in the Sangamon (111.) County Circuit
Court reversed the P. U. Comrn's. order.
V. 109, p. 1461.
The company s
appealed to the Illinois Supreme Court, which on Feb. 18 1920 held valid
the 7-cent fare, reversing the decision of Sangamon County Circuit Court.
The city, it is stated, is prepared to carry the case to the U. S. Supreme
Court.
V. 110, p. 764.
Effective Dec. 27 1919 the 111. P. U. Comm.
ordered the companies put on a straight 6-cent cash fare basis.
This new
schedule is to continue In effect until May 20 1920, or. thereafter until the
revaluation of the companies' properties is completed and a permanent
Chicago City Council and the surface
decree was entered by the Circuit
lines.
Court of Cook County in favor
A
rate
established.
City Operation
_
V. 109, p. 2439.
Compare V. 110, p. 464.
Approved.—On Nov. 11 1919 the City Council unanimously
approved the Mayor's plan for condemnation of the surface
operation on a 5-cent basis by or on behaif of the city.
For
V. 109, p. 1891.
Strike.
109, p.
see
477, 577.
lines and their
further details,
REPORT.—Of entire system for years ending Jan. 31:
Gross
Operating
Residue
Of Which to
Earnings.
Expenses.
Receipts. Chic.C.Ry., Chic. Ry:.,
$43,963,438 $33,254,015 $10,709,423 $4,283,769 $6,425,654
34,710,098
25,731,937
8,978,161
3,591,264
5,386,897
35,114,633
23,101,696
12.012.937
4,805,175
7.207.762
34,789,636
21,743.523
13,046,113 5.218.445
7.827,668
Year ending
Jan. 31—
1919-20
1918-19
1917-18
1916-17
of Operation.—Chairman Henry A. Blair, Leonard A. Busby S
Rawson, Wallace Heck man, Harrison B. Riley, John M. Roach,
Board
P.
H.
[Vol
ELECTRIC RAILWAYS
26
Frank O. Wetmore.
Executive
Committee.—Chairman, Henry A. Blair; Leonard A. Busby and
Wallace Heckman.
OFFICERS.—Pres., H. A. Blair;
Sec., F. L. Hupp; Treas., M. B.
Orde; Gen. Aud., Jno. J. Duck.—V. 109, p. 1179, 1461, 1609, 1891, 2171,
2356, 2439; V. 110, p. 464, 658, 764, 1415.
110.
Bonds.—There la no limit to the amount of bonds that may be issued
Under the Chicago city ordinance, in case of
purchase by the city or its licensee, and only in such case, the bonds may be
called as a whole, for payment at par and int., on any int. date before ma¬
turity.
V. 84. p. 1488,1550.
Bonds are listed on Chicago Stock Exchange
(V.98, p. 386).
under the above mortgage.
DIVIDENDS.—In 1893, 24%; 1894-1900, 12%; in 1901, 10X%: in
1902-09, 9%; In 1910, 16%; in 1911,
1912.l]%\inl9l3.lOH%.
1914, 9%; in 1915, 8%; in 1916, 9X%; in 1917, 8% and J*%,extra In
Dec. In 1918, 5%.
In 1919, 5%.
In 1920, Mar., IV2%.
in
ROAD, &c. (incl. Southern St. Ry.).—Company owns 349.87 mUes of
single track, all now operated by electricity.
System covers the South Side
of Chicago, extending from the centre of the business district south to 79th
Street and between the South Branch of the Chicago River and the Lake
31 1920, see V. 110, p. 1179.
"Chicago Surface Lines" under the Unifica¬
which went into effect Feb. 1 1914, were: Gross, $43,963,-
REPORT.—For 12 months ending Jan.
The combined results of the
CHICAGO CITY & CONNECTING RYS.—A collateral trust.
Ordinance to
Unite Surface and Elevated Lines.—See
tion Ordinance,
"Chicago Elevated
take over the stock of the
Chicago City Ry., together with the securities of the Calumet 9c South
Chicago Ry., the Southern Street Railway, the Hammond Whiting & East
Chicago Ry. and the Chicago & Western.
These properties comprise ap¬
proximately 512 miles of street railway in southern division of Chicago
and vicinity.
See outline of plan In V. 90, p. 558, 625.
Trustee, Chicago
Title & Trust Co.
April 19 1913 the 111. Supreme Court affirmed the decision of the
Superior Court of Cook County in the suit brought by Clarence H. Venner,
which held valid the agreement dated Jan. 1 1910, creating the Chicago
City and Connecting Rys. Collateral Trust (V. 96, p. 1364, 1627).
An
appeal was taken to the U. 8. Supreme Court, but In Nov. 1914 suit was
dismissed. See "Chic. City Ry.'Mn V. 99, p. 1527.
On
Date.
Interest.
Outstanding.
Maturity.
150,000 shares.
s-a
150,000 shs.
See text.
250,000 shares.
.
s-a
250,000 shs.
See text.
Coll trust mtge $22,000,0001 1910
5 A-O
$21,246,000
Jan 1 1927
gold sinking fund c*Ar*tf J Int. at 1st Tr.&S.B.Chlc., Trus., or inN. Y.
I
Participation Certificates.—Preferred participation shares have no pa
value but are entitled to preferential cum. dtvs. aggregating $4.50; also,
after com. partic. shares shall have received $4 In any year, the remaining
surplus, not exceeding In any year $1,000,000, shall be paid ratably.
to
than
and H to com., but in no case will the pref. certfs, be entitled to more
$7 each per annum;
also have preference upon distribution of trust
fund
$100 each and accumulated dividends.
Listed on
In Dec. 1918 the div. due on the pref. partic.
V. 108, p. 263, 267.
Not paid to April 1 1920.
Bonds.—Coupon bonds In denom. of $1,000; registered bonds $1,000 or
multiples.
A sink, fund of $105,000 of bonds p, a. began Mar. 1 1915.
Bonds are redeem, for the s. f., or as a whole, at 105 and int. $754,000 re¬
deemed as of April 1 1920. In case of purchase of property of the Chicago
City Ry. by City of Chicago, or termination of trust agreement of Jan. 1
1910, then bonds are redeemable at par and accrued int. See V. 90, p. 558,
625.
Bonds are listed on N. Y. and Chicago stock exchanges.
V.94,p.lll8
Stocks and Bonds
Stocks (par).
a
$16,971,900
♦10,000,000
*2,400,000
Hammond Whiting & East Chic. Ry— *1,000,000
Chicago A Was tern
*72,000
Total
*
Bonds (par)
None
...
;
*1,000.000
1st
5s
$1,000,000
$30,443,900
Entire Issue.
Under provisions of the trust mortgage these respective issues of bonds
each as an entirety may be converted into capita) stock of the respective
companies to an equal amount.
a
Dividends.—On
pref.
part. ctfs. $2.25 per share was paid
semi-an.
loci. July 1914.
In 1915, $2 50.
In 1916, $1 75.
(V. 104. p. 72); July, $1 50.
In 1918. Jan.. $1 50.
from June 1910 to and
In
1917. Jan., $2 25
None since; V. 106, p. 2755; V. 108, p. 77.
per share was paid semi-annually
July 1912.
None since.
$1
On common participating ctfs.
from June 1910 to and Including
$10,651 $1,143,369
§,858
§?§'§§§
4,792
514,516
2,668,657
2,623,510
Income from
Income
Divs.
Yr.
Bond
Bond
Other
Interest.
Gross.
Other.
Redernp.
Ded.
Divs. on Surp.
Part.Shs. Inc.
Committee.—Chairman, Harrison B. Riley, S. M. Felton, James B. For». Wetmore Mitchell, Busby.
§an, John J. and L. A. Samuel Insull, John 167.Spoor, B. E. Sunny. Frank
V. 110, p. A.
V. 108, p.
(1)
&
Treas., W. W. Crawford; Aud., W. W. Hill.—
479,1164; Y. 109, p. 1079; V. 110, p. 167, 359, 560.
Unified Operation of Surface Lines.—See "Chicago Surface Lines" for
of
unification
ordinance
under
which
the lines
at this company
operated Jointly with those of the Chicago Railways Co. as a single sys¬
joint Board of Operation.
For plan to unite the
see "Chicago Elevated Rys."
are
342,974
—
2,705,676
-
-
3,580,614
$2,673,450
def.72,047
$3,048,651
36,170
Other income
Net income
Interest on bonds
Dividends..—
—
—
Balance—
$3,138,026
58,358
$2,601,404
$3,196,384
$1,755,217
$1,695,000
(5)900,000 (8)1,575,000
$3,084,821
$1,780,884
(5)900,000
-
—-
on-
3,661,806
$403,937 def.$53,813 def.$73,615
*
Representing 40% of residue receipts.
"interest on capital investment" Is that certified by board of
supervising engineers, as provided by the ordinance of Feb. 11 1907OFFICERS .-^-Chairman Ex. Com., and Pres.
L. A. Busby;
VicePres., H. B. Fleming;
Sec.
& Treas., F. D.
Hoffmann: Aud., John
J. Duck.—V. 108, p. 1164.1822, 2628; V. 110, p. 359, 1179, 1186.
x
The
(2)
Calumet & South Chicago Ry.—Electric.
Unified Operation'of Surface Lines.—See "Chicago Surface Lines" for
details of Unification Ordinance of 1914, under which the lines of this com¬
pany are operated jointly with those of the Chicago Railways Co. as a sin¬
gle system under the control of a joint board of operation
Ordinance Embodying Unified Operation of Surface and Elevated Lines.—
See Chicago Elevated Rys. on a subsequent page.
ORGANIZATION.—Is a consolidation formed In 1908 of the Calumet
Ry. and South Chicago City Ry. in accordance with the
of ordinance passed by the City Council Mar. 30 1908.
Lines
are located in the south division of the City of Chicago.
The ordinance
grants franchises until Feb. 1 1927 and provides that the City is to receive
55% of net receipts after allowing for operating expenses, taxes and de¬
preciation and 5% on present value, together with amounts expended for
Improvements and extensions.
Unification ordinance of 1914 establishes
a
5-cent faro and universal transfers.
City may purchase property on
Feb. 1 or Aug. 1 of any year upon six months' notice for present value,
which is fixed at $5,000,000, plus amounts expended for improvements,
additions and extensions, but only for municipal operation, where purchase
is made prior to Feb. 1 1927.
With an addition of 20% in price, city may
also purchase for the purpose of turning property over to other parties (If
Electric Street
purchased for Chicago City Ry. only 12% additional need be paid), but
to pay
this additional sum need not be paid where these other parties agree
over to the city ail of the profits above 5% on the purchase price.
p.
V. 86,
1223.
On Jan. 31 1920 certified value of property and additions thereto
$11,348 822
was
STOCK AND BONDS—
Date.
Outstanding.
Interest.
Maturity
$10,000,000
—
1908
5 g F-A
5,393,000 Feb 1 1927
($1,000) gold, no s fc*&rtf llnt.at First Tr. & Sav. Bk.. Chic.. Trustee.
Noi.es payable. Jan. 31 1920-650.000
—1st mtge.
bonds Is indeterminate, amount to be
work done on property.
They are subject to
1912 at 105 and int.; thereafter only in
city shall purchase property at par and int. on any int. date.
No s. fd.
limited
to amount of new
call at any int. date before July 1
case
EARNINGS.-For
Year ending
Jan. 31—
1919-20
1918-19
*
ending Jan. 31:
Other
Total
Bond
Income.
Income.
Interest.
$8,757
$569,817
$303,814
11,438
558,813
292,938
years
* Int. on
Capital.
$561,060
547,375
Divs.
Balance,
Paid.
Surplus.
$250,000
$16,003
200.000
65.875
Representing company's proportion of 40% of Chicago Surface Lines'
effective Feb. 1 1914.
residue receipts pursuant to unification ordinance
Chicago City Railway.—An electric road.
detalla
'
operation
Bonds.—The Issue of
iof.000
1919.1,170,635 116,815 1,287,450 1,067,550
64,133
None 50,767
1918.1,127,595 158,180 1,285,776 1,072,815 105.000 79,798
None 28,163
1917.1,916,831 124,020 2,040,851 1,078.315 105,000 81,346 750,000 26,190
OFFICERS.—Sec.
,
Stock. $10,000,000 ($100)
First mortgage rehabilitationf
REPORT.—For calendar year 1919 (V. 110. p. 560):
Cal.
1917-19.
«
terms
Deposited to Secure the Coll. Tr. Bonds.
Chic. City Ry
Calumet & South Chicago Ry
Southern Street Ry
1918-19.
$786,563
443,589
Net earnings
City's proportion (55%)
Company s proportion (45%)
Interest on capital_x
Chicago Stock Exchange.
certs, was deferred.
Railway.
$3,591,264 *$4,805,175
to the amount of
pret.
1919-20.
Proportion of residue receipts
-.*$4,283,769
Joint acc't exp. int. on cap. in v. and
South St. Ry. net earnings
3,497,206
STOCK AND BONDS—
Com part certs
Pref part certs
Income Account Chicago City
i
Formed in 1910 under a trust agreement, to
residue receipts, $10,709,423.
$33,254,015;
438; operating expenses,
below.
Rys,"
cago, Pullman, West Pullman, Auburn Park,
Manhattan Beach.
Also extends from Jackson
State
Lino along Lake
tem under the control of a
Indiana
surface and elevated lines
70, 75, 83 and 85-lb.
ORGANIZATION.—Incorporated In Feb. 1859. and has extensive
stir
face road privileges in the south division of Chicago.
Has a contract ex¬
piring Jan. 31 1927 with the Commonwealth-Edison Co., for the supply of
its entire power requirements.
The railway has abandoned its producing
plants but retains its distributing plants.
New Ordinances and Franchises.—On Feb. 4 1907 the
South Chi¬
Burnside, Hegewisch and
ROAD.—Owns and operates 125.97 miles of track reaching
Park to 106th St. and the
Shore and both sides of Calumet River.
rails.
OFFICERS.—Pres., L. A. Busby; V.-P., W. W. Crawford; Sec. & Treas.,
1831; V. 107, p. 1236.
F. D. Hoffman; Aud., John J. Duck.—Y. 100, p.
($)
Southern Street Railway Co.—A trolley road.
Unified Operation of Surface Lines.—See "Chicago Surface Lines" for
details of Unification Ordinance of 1914. under which the lines of this com¬
City Council passed
pany are operated jointly with those of the Chicago Railways Co. as a sin¬
providing for a settlement of the franchise question.
These
gle system under the control of a joint board of operation.
I
were approved at the city election on April 2 1907 and
formally 1
Ordinance Embodying Unified Operation of Surface and Elevated Lines.—
accepted by the company's board of directors on April 15 1907.
Suit to
See Chicago Elevated Rys. on subsequent page.
set aside franchise was dismissed in April 1912.
V. 94, p. 1118.
An ex¬
tended outline of these ordinances, one to the Chicago City Railway Co.,
ORGANIZATION.—Incorporated in Illinois as a reorganization of the
and covering the lines operated by that oompamy, and the other to the Chi¬
Chicago General Ry., which was bid In at foreclsoure sale on Sept. 30 1907
cago Rys. Co. .and covering the lines of the former Chicago Union Traction
by the Southern Street Railway Co
V.85,p 863.
Stock outstanding (par $100) $2,400,000.
Co. (now the Chicago Railways Co.), was given in V. 84, p. 1123. The value
Bonds issued under 1st mtge.
of the tangible and intangible property of the Chicago City Ry. at date of
of 1909 were from time to time canceled and stock issued In exchange.
No
bonds now out.
the ordinances was fixed at $21,000,000.
The city or any company au¬
thorised by It Is given the right on Feb. 1 or Aug. 1 of any yoar, on six
EARNINGS.—Included In statement of Chicago City Ry.
months' notice, to purchase the entire property of the two systems, or either
ROAD.—Included in Chicago City Ry.
of them, at their value at date of ordinance, plus "the cost of rehabilitation
and extensions, Including fair allowances for construction,
OFFICERS.—Pres
L. A. Busby; V.-P.. W. W. Crawford: Sec. & Treas.,
profit
and
brokerage".
But if the properties are acquired for operation by a pri¬
F. D. Hoffman; Aud., Jno. J. Duck—V. 91. p. 1631, 1712; V. 107, p. 1288.
vate corporation, for Its own profit, the purchase price Is to be Increased
(4) Hammond Whiting & East Chicago Railway Co.—A trolley road.
20%—barring the case of a private company which might be willing to
All securities are owned by the Chicago City & Connecting Ry9.
turn over to the city all profits above 5% on the cost or the Investment.
ORGANIZATION.—Incorporated in Indiana In Jan. 1910 as successor
The companies are limited during their operation to as interest return
to Hammond Whiting & East Chicago Electric Ry.
Franchise expires In
of 6% upon the agreed value plus the cost of rehabilitation and exten¬
1954.
Power is furnished by the Calumet & South Chicago Ry
sions!.
All net profits above this are to be divided on the basis of 55%
Fares.—In Jan. 1919 the P. S. Comm. denied the co. authority to in¬
to the city and 45% to the companies, but a deficit la any year is to be
crease fares from 5 cents to 7 cents.
On Aug. 29 1919. however, following
made good out of the
profits of subsequent years.
After Apru 15 1910 the
a strike of the co.'s men, the City Council auth. an increase in fares to
companies are required to set aside 6% of the gross receipts for maintenance
7 cents, enabling the co. to raise the men's wages.
See under "Chicage
and repairs and an additional 8% of the gross receipts to cover renewals
City A Connecting Rys." in V. 109, p. 1079.
ordinances
ordinances
.
juid depreciation.
Whatever portion of the two funds Is not used remains
In the funds and passes to the city or Its licensee upon purchase.
But If
the two funds are not sufficient for the purposes named, the companies
obligated to supply additional funds.
are
^^^544™2
499
The franchises granted by the
Feb* 1 1927' PurchafJe prlce of the Pr°Perfcy Jan- 31
Chi Jan. 29 1912 City Council passed an ordinance providing for the ac¬
quisition by Chicago City Ry. of city lines of the Chicago & Southern Trac
Co.
V. 94, p. 349, 629.
The latter was sold at foreclosure in Feb. 1912
The lines outside the city were taken over by the Chic. 9c Interurban Ry.
Decision as to Regulation.—See "Chicago Surface Lines."
«
Y»
~the c<>raPany applied to the 111. P. U. Comm. for auth. to
$1,928,000 5 % 1st mtge. bonds to
110, p. 359.
wsue
STOCK AND BONDS—
xt
^
t
o,
expenditures for improvements
Date.
Stock, $18,000,000 ($100)-—.
lstmtge ($1,000) g..c»&r*tf/
Notes payable Jan 31 1920
cover
Interest.
Outstanding. LastDic.,&cText Q-M30 $18,000,000 Mar'20, ltf
1907
5 g F-A
33,926 Feb
11927
I First Trust & Sav. Bk.. Chicago, Trustee.
1,950,000
STOCK AND BONDS—
Stock $1,000,000 ($100)
First mtge, $5,000,000,
Date.
Interest.
Outstanding.
Maturity.
$1,000,000
gold/ 1910
5 g F-A
1,000.000 Feb
1 1930
($1,000)
c&rtf [Int. at First Trust & Sav. Bank, Chic..Trust.
Bonds.—Subject to call at 105 and int.
E. K. Boisot is also trustee.
ROAD.—Owns 34.16 miles of track,
extending from State line between
Illinois and Indiana at 108th St., Chicago, to Whiting, East Chicago and
Hammond in Indiana, and ODerates in connection with Calumet 9c South
Chicago Ry. to 63d St. and Madison Ave., In Chicago.
Standard gauge;
80-lb. T rail.
OFFICERS.—Pres., O. G. Talmadge; V.-P., Chas. L. Lawrence; Sec. 9c
Treas., F. D. Hoffman; Aud., W. W. Hill.—V. 79, p. 103.
CHICAGO & INTERURBAN TRACTION CO.
ORGANIZATION.—Incorp. in Illinois Feb. 14 1912 to take over the
property of the Chicago & Southern Trac. Co. (sold at foreclosure) outside
the city limits, the lines within the city having been acquired by Chic. City
Ry,
V. 94, p. 697.
APK., 1920.)
ELECTRIC
Fares.—In Aug. 1919 was auth. to charge 3 cents a mile between
Chicago
and Kankakee.
V. 109. p. 774.
STOCK AND BONDS—
Interest.
Date.
Outstanding.
Maturity.
Stock, $1,000,000 ($100)
,7.
$1,000,000
First mtge, gold ($100. $500.7 1912
5 g J-J
1,350,000
Jan 1 1932
$1,000), no a f
c*tf lint, at First Tr. & Sav. Bk., Chic.. Trustee.
Bonds.—The auth. amount of 1st M. bonds Is not limited.
Bonds are
subject to call In whole or In part, beginning with lowest number, at 102
on any interest day.
There are also $378,000 bonds in treasury.
EARNINGS.—For years ending Dec. 31:
Year—
Gross.
$394,012
316,483
1919
1918
Expenses.
$277,252
239,119
Net.
$116,759
77,363
Int.&Taxes.
Surplus
$93,123
$23,636
92,944 def. 15,580
ROAD.—Consists of 50 miles of line between 119th St. and Vincennes
Road. Chicago, to Kankakee, 111.
Standard gauge.
70-lb. T rails.
OFFICERS.—Pres. & Mgr., O. G. Talmadge: Sec. & Treas., W. W.
Crawford.—Y. 104, p. 1387; V. 106, p. 1577; V. 109, p. 774; V. 110, p. 1186.
CHICAGO NORTH SHORE & MILWAUKEE RR.
ORGANIZATION.—Incorp. in 111. and on July 26 1916 acquired the
properties of the Chicago & Milwaukee Electric RR., sold at foreclosure
May 1 1916 (V. 102, p. 1718, 2077).
V. 103, p. 664, 1687.
Franchises.—Owns right of way in Wisconsin as far as the city limits of
Milwaukee; franchise in Milwaukee expires Dec. 31 1934.
Owns right of
way In Illinois outside of corporate limits and to a considerable extent within
corporate limits; the remainder is covered by municipal franchises, several
being perpetual.
Valuation.—In Nov. 1917 the Illinois P. U. Comm. determined the fair
value of the co.'s physical property in Illinois to be not less than
$5,100,000.
The original cost o? the property in both Illinois and Wisconsin as shown
by
the books was $13,918,862, but the original cost of the Illinois section alone
could not be accurately ascertained.
V. 105. p. 1897.
In July 1917 issued $885,000 6% serial notes to reimburse the
company
for capital expenditures made or to be made
subsequent to July 1 1916.
In Aug. 1918 Drought out an issue of $385,000
7% serial notes, dated June
15 1918, to retire $180,000 6% serial notes which matured July 1 1918
and to reimburse the co. for capital expenditures made or to be made sub¬
sequent to April 1 1918.
V. 107, p. 694.
On Sept. 8 1917 the 111. P. U. Comm. auth. the co. to increase the rate
of fare in Illinois to 2 cents per mile.
On Oct. 18 1918 was auth. by the
I.-S. O. Comm. to increase ticket fares from 2 to 2.5 cents
per mile.
In Aug. 1919 brought out
000 6% equip, notes.
$600,000 6% secured notes series "A" and $500,p. 887.
V. 109,
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity
$100,000
See text
M $10,000,000 g
($1,-/ 1916
5 g J-J
$4,060,000 July 1 1936
000, $500 & $100)
c*tf(lnterest payable In N. Y. or Chicago.
Gen'l M $1,500,000 gold
1916
5%
460,000 Aug. 1 1936
Equipment notes gold ($l,-f 1917
6 g J-J
119,000 See text
000 and $500)
c*(lnt. at Chicago Northern Tr. Co., Trustee,
Equip notes $500,000 ($500 &/ 1919
6 g F-A 1
500.000
See text
$1,000)
c*tf (Northern Trust Co., Chicago, Trustee.
Serial
gold
notes
$885,000/ 1917
6 g J-J
360,000 See text
($100, $500. $l,000)_.c*tf (Cont. & Comm. Tr. & Sav. Blc., Chic., Trus.
Serial gold
notes
$385,000] 1918
7 g J-D 15
260,000 See text
($100, $500, $1,000)-_c*tffCont. & Comm. Tr. & Sav. Bk., Chic., Trus.
Stock
First
Secured
text
Ser
notes
($1,000)
"A",
g
see/ 1919
6 g F-A 15
600,000 Aug 15 1920
c*tf (Central Trust Co. of Illinois, Chicago, Trust.
Stock.—The capital stock is In the nominal sum of $100,000, which has
been made the basis of the following
participation certificates of no par
value: (a) 50,000 Illinois part, certfs., bearing $5 dividends a year, cumu
lative. If earned, from Jan. 1 1918, the div. on these certfs. having priority;
(b) 58,000 Wisconsin part, certfs.. bearing $5 divs. a year, cumulative, If
earned, from Jan. 1 1918; (c) 62,000 common part, certfs., bearing such
dividends
as
may
be earned and declared.
The stock will be held by George
M. Reynolds, Samuel Insull and R. Floyd Clinch as voting trustees.
basis of exchange of bonds of old
co.
for certificates,
see
v.
103,
p.
For
664.
Bonds.—The 1st M. bonds are secured by a first lien on all the property
owned and by pledge as additional security of the entire capital stock of the
Chicago
&
Milwaukee Electric Ry. of Wisconsin, which
owns the ter¬
minal facilities in Milwaukee.
$1,707,200 are pledged as security for the
6% and 7% secured note issues, remaining bonds may be issued at par for
not exceeding 85% of the cash cost of betterments, &c.
The mortgage pro¬
vides for
a
maintenance, replacement & depreciation fund of 12% of annual
foss income 18% first the last 5 years, for second 5 years, 16% for third
for for five years, 14% to be expended for maintenance,
years and
&c., or for retirement of 1st mortgage bonds.
The 1st mortgage bond*
callable as a whole or
part on any interest date at 105 and interest.
Continental
&
Commercial Trust & Savings Bank, Chicago, is trus¬
tee. V. 103, p. 1031. $240,000 Gen. M. bonds have been canceled and
are
$480,000 are In treasury.
The equip, notes of 1917 mature $8,500 s.-a,
July 1 1917 to Jan. 1 1927: secured by 15 steel passenger cars costing $200,000.
Redeemable all or in part at 100and int. on any int. date on 30
days' notice.
The equip, notes of 1919 mature $50,000 Aug. 1 1920 and
£25,000 at anyFeb. 1on 30 days' notice, at 101 and int.1 for all notes having
and Aug. 1 thereafter to Aug. 1929. Red. all or
part each
time
l
over
5 years to run, and at 100 H and int. for notes having less than 5 years
Secured by equip, at the rate of $100 of equip, for not in excess
Int. in New York or Chicago.
V. 109, p. 887.
to run.
of $70 of notes issued.
The serial notes,
dated July 1 1917, are due July 1 1920.
$180,000 1-yr.
1 1918 and $360,000 July 1 1919.
Int. payable
Chicago.
Call., all or part, upon 30 days' notice, the
two-year notes at 1003^ and int. and the three-year notes at 101 and Int.
for the first two years of their life and at 100>i and int. thereafter.
They
are secured by deposit of $940,000 C.
N. S. & Mil. RR. 1st M. bonds.
V. 105, p. 388.
The serial notes of 1918 are due June 15 1921 and are
secured by $370,000 1st mtge. 5% bonds.
$125,000 (unsecured) notes of
this issue were retired June 15 1919.
Red., all or in part, at 100 and int.
on 30 days' notice.
Int. payable in N. Y. or Chicago.
V. 107, p. 694.
The secured 6% notes Ser. "A" are secured by $857,200 1st M. 5s.
Addi¬
tional notes may be issued under this indenture for one, two or three years
at such rates of int. as may be determined by the directors upon the pledge
of 1st M. 5% bonds in the ratio of 142.857% or 1st M. 6s In the ratio of
125%.
Series "A" are red. all or in part at 100 and int. on 30 days' notice.
Interest payable in New York or Chicago.
V. 109, p. 887.
notes
were
In New
retired July
York
or
EARNINGS.—Year end. Dec. 31 1919 (incl. Chicago & Milwaukee Elec*
Ry .-Milwaukee City Lines), gross, $3,237,921; net, after taxes, $773,235!
charges, $341,396; balance, $431,839.
In 1918, gross, $2,899,975!
net, after taxes, $867,585; fixed charges, $332,505; balance, $535,080.
fixed
ROAD, &c.—Owns ana operates the electric railroad connecting Evans111., and Milwaukee, Wis., with a branch line extending from Lake
Bluff, 111., to Area, 111., embracing 84.54 miles of road and 169.57 miles
ton,
single track equivalent.
The principal communities served are Evanston.
Wilmette, Winnetka, Glencoe, Highland Park, Lake Forest, North Chi¬
Waukegan and Zion City, III., and Kenosha, Racine and Milwaukee,
Wis.; also Fort Sheridan and Great Lakes Naval Training Station.
168
motor, combination, buffet, trailer, baggage and express cars, and 139
freight cars, 13 service cars. 43 misc. cars, 4 electric locomotives and 1 work
cago,
motor.
OFFICERS.—Chairman of the Board. Samuel Insull; Pres., Britton I.
Budd;
V.-P.,
R.
Floyd
Clinch:
Sec.-Treas..
W.
V.
Griffin.—
V. 107, p. 692, 694; V. 108, p. 972, 2120; Y. 109, 887; V. 110, p. 969.
CHICAGO
RAILWAYS CO.
Unified Operation of Surface Lines.—See "Chicago Surface Lines" for
of Unification Ordinance of 1914, under which the lines of this
details
company are operated jointly with those of the Chicago City Ry. as a
single system under the control of a joint board of operation.
As to plan
for unification of surface and elevated lines, see "Chicago Elevated Rys."
Ordinance Embodying Unified Operation of Surface and Elevated Lines.—
See Chicago Elevated Rys. on a subsequent page.
ORGANIZATION.—Incorp. In Illinois in Oct. 1903 and on Jan. 25 1908
acquired at foreclosure sale the property of the old Chicago Union Traction,
comprising the lines of the North and West Chicago Street RR.
The pur¬
chase was made under a modified plan of reorganization and readjustment
dated Oct. 15 1907 and outlined in V. 85,
p. 1269; see also p. 1576.
In Dec. 1912 purchased 6 miles of the Suburban RR. inside the city limits
(V. 95, p. 1402) and issued $22,554 bonds to cover cost.
Franchises.—On Feb. 5 1907 the City Council passed ordinances providing
a settlement of the relations between the city and the street
railway
for
RAILWAYS
27
companies.
V. 84, p. 338, 390.
The franchises granted by the ordinances
expire Feb. 11 1927 and were approved at the popular election held April 2
1907.
On Oct. 10 1910 supplemental ordinance was passed expiring Feb,
1927, covering lines of Chicago Consol. Trac. properties.
V. 91, p. 1025.
In the remarks concerning the Chicago City Ry. on a preceding
page of this
publication will be found a brief summary of the main terms, requirements
and conditions of these ordinances.
was
A very extended outline
printed in the "Chronicle" of May 11 1907,
pages
or
the same
1123,1124 and 1125.
which the reader is referred for detailed Information.
to
The ordinance for the Chicago Rys. Co. provides that the valuation of the
properties acquired shall be deemed and considered to be $29,000,000 (the
value fixed by a board of expert engineers acting for the city) plus $1,779.875
for expenditures from the date of the valuation on June 30 1906 to Feb. 1
1907, making total valuation ofjproperties as recognized by ordinance
$30,779,875 as of Feb. 1 1907.
With the expenditures already made, the
valuation of road, equipment and franchises on Aug. 31 1919 was com¬
puted at $90,884,119.
All expenditures for reconstruction and extensions are being made under
the
direct
supervision of a board of supervising engineers headed by Mr.
Bion J. Arnold, and the company is required, under conservative restric¬
tions, to advance moneys for the construction of subways by the city.
The expenditures for reconstruction and extensions, including any contri¬
butions for subways, after Feb. 1 1907 are to be added to the value of the
properties recognized by the ordinance, together with 5% of such expendi¬
tures for brokerage.
As compensation for its services In construction
the company will receive an additional 15% of all expenditures for recon¬
struction and extensions, exclusive of amounts contributed for subways.
The company agreed to lower and reconstruct the tunnels under the
Chicago River at Washington, La Salle and Van Buren streets.
Right to Purchase by City.—Under the terms of the franchise, the company
agreed to waive all rights under previous grants, and gave the city an
option to purchase all of its property for municipal operation at any time
grior toordinance. The price to 20-year franchisecity to be the company
the expiration of the be paid by the granted $30,779,875,
y the
the
valuation
plus all
of
the
properties
February
1907,
1
as
above
mentioned,
expenditures after that date for reconstruction, extensions and addi¬
tions to the properties, Including any amounts advanced to the city for
the construction of subways in the downtown business district.
In case
the property shall not be purchased, as above stated, prior to 1927. the
expiration of the franchise, the city covenants that It will not then grant
franchise to any other corporation for the
operation of a competing system
in the company's territory unless such other corporation shall purchase
a
the property
of the company at said price.
The city also has the option
of requiring the
company to sell its property to any other licensee corpora¬
tion of the city, or of purchasing the property Itself for municipal ownership
(with no requirement as to municipal operation). at any time during the
life of the franchise; but in case of such purchase by the city or a licensee,
the price to be paid shall be 20%
but the licensee shall not be
more than
the price above mentioned;
required to pay the additional 20% if it shall
the city all profits In excess of 5% on the investment
In any event, (1) the purchase price must be paid in cash and the first
mortgage bonds of the company will attach to such cash as a first lien in
the event of such purchase; or (2) such purchase (if made within said 20
agree to pay over to
&ears), but if be consummated expressly subject to the lien of the 1stthereof
mtge.
onds, must made at the expiration of said 20 years, the amount
must also be paid in cash.
to
Compensation to City.—Provision Is made for special compensation
the City of Chicago, but this compensation is payable only out of
the surplus earnings of the company after paying or providing for all op¬
erating expenses, including the charges for maintenance and depreciation
upon the valuation of the company's
operation,
m above stated.
Of the surplus earnings so remaining, the City or Chicago
receives 55% and the company 45%.
(See V. 99, p. 1831 for dispute with
city as to certain accounts).
prescribed in the ordinance and 5%
property at which it may be purchased oy the city for municipal
Control
Trustees.—The trust indenture securing the
participation
provides that until Aug. 1 1912 and to the full extent thereafter
by
certificates
which may be permitted by law until all of the consolidated mortgage bonds
of the company shall be fully paid and discharged, the directors of the
company shall be elected by trustees, now consisting of Messrs. Harrison
B. Riley, William O. Niblack, Abel Davis, Frank G. Gardner and Henry
J. Tansley, and provision is made in the trust deed securing the 1st M.
bonds for the appointment of a permanent finance committee, now com¬
posed of Messrs. Henry A. Blair, Seymour Morris and B. A. Eckhart of
Chicago.
Acquisition of Chicago Consolidated Traction Properties.—On Dec. 27 1910
Judge Grosscup confirmed the sale of the Chic. Consol. Trac. Co. and Its
eight underlying companies on Nov. 30 1910 to Andrew Cooke and the
sale by the latter of all properties within the city limits to the Chicago Rail¬
ways Co. (V. 91, p. 945, 1253, 1511), pursuant to an ordinance passed
Oct. 10 1910 (placing valuation at $4,021,982), like in tenor, amendatory
and supplemental to ordinance of Feb. 11 1907 (V. 91,
p. 1025, 1159)
See reorganization plan, V. 90. p. 1613; V. 91, p. 37.
The lines outside the
city were acquired by the County Traction Co. (now the Chicago & West
Towns Ry.), which has no connection with the Chicago
Railways Co.
On Nov. 1 1910 a deposit agreement was entered into by the holders of the
securities of the Chicago Consolidated Traction and Its subsidiaries,
pro¬
viding for the exchange of the said securities for Chicago Rys. Co. Purchase
Money 4% to 5% bonds and Adjustment Income 4% bonds, botb dated
Jan. 1 1911 and maturing Feb. 1 1927.
For description of bonds and terms
of exchange, see V. 91, p. 1384. and compare V. 90, p. 1613; V. 91, p. 214.
Favorable Decision.—In Oct. 1912 the U. S. Circuit Court of Appeals
affirmed the decision of Judge Kohlsaat, dismissing the suit brought to have
the compromise franchise
of 1907 annulled.
V. 95. p. 1205.
Settlement of Yerkcs Suit.—In
April 1914 the company arranged a settle¬
brought by the Yerkes estate on the guaranty of the bonds
of the Chic. Consol. Trac. Co. by the Union Trac. Co.
V. 98, p. 1155.
ment of the suit
Decision
as
to
Regulation.—See "Chicago Surface Lines."
Wage Award by War Labor Board.—V. 107, p. 500.
The P. U. Comm. has auth. the co. to issue $2,230,000 additional 1st M,
5% bonds for Impts., &c. up to Sept. 20 1918 these had not yet been issued.
In Dec. 1918 applied to the 111. P. U. Comm. for auth. to issue $1,995,414
of 4% bonds.
V. 108, p. 77.
STOCK AND BONDS—
Date.
Interest.
Stock, $100,000
-
Outstanding.
See text.
Maturity.
See text.
First mortgage (see text),
($1,000)
gold
f 1907
5 F-A
$58,506,000 Feb 1 1927
c&rtf{Int. at Harris Trust & Sav. Bk., Chic., Trus.
I
Oonsol mtge, gold
tf
or
at Harris, Forbes &
1907
5%
Co., New York.
See text. Feb
11927
Traction.
Bonds Covering City Lines of Former Chicago Consol.
Purch-money M $6,000,000 g/ 1910
5 J-J
4,073.000 Feb 11927
($500 and $1.000)
c*tf I Illinois Tr. & Sav. Bank, Chic., Trustee.
Adjust Inc M $2,500,000 gold] 1910
4g May
2.500.000 Feb 1 1927
($100tk$500)(non-cum)c* tf t
Central Trust Co. of 111., Chicago. Trustee,
Stock.—The capital stock of the company, which is issued in the nominal
the subject of a trust agreement, dated
Aug. 1 1907 and executed Jan. 25 1908, by and between the Chicago Rail¬
ways Co. and Messrs. Adolphus O. Bartlett, Chauncey Keep, Charles H.
Hulburd.Albert A. Sprague and Chkrles G.Dawes,
as depositaries, and
Centra! Trust Co. or Now York as custodian.
Under this agreement
the stock serves as a basis for the issue of the participation certificates,
representing in all 265,100 equal parts.
Series 1 consists of 30.800 parts.
Series 2 of 124,300 parts, Series 3 of60,000 parts and Series 4 of 50,000 parts.
8eriee 1, 2 and 3 are entitled. In the order of priority named, to cumulative
dividends of $8 for each part, beginning with year ending Aug. 1 1908, and in
amount of $100,000, has been made
the distribution of
capital to $100 for each said part.
Series 4 la entitled
or capital distributed.
V. 85, p. 1269.
participation certificates Ser. 2 are limited to $4 on each cer¬
tificate so long as more than 50% of Series O bonds remain outstanding,
and thereafter to $5 per certificate until the remainder of Series C bonds
have been redeemed.
Series 2, however, is entitled to unpaid accumulation
cm account of its $8 per certificate (beginning with the year ending Aug. 1
1908), but only when earned, and after payment of all accumulations of
linking fund and of dividends on Seriea l.
Bonds.—First mtge. bonds are Issued only to provide funds for rehabili¬
tation, extensions, <fcc.
They may be redeemed at par and accrued interest
on any interest day.
The bonds have a first lien on the entire property,
rights and franchises of the company.
The authorized issue is limited to
the aggregate of the amounts approved from time to time by the board of
supervising engineers.
$39,000 are held in treasury and $2,812,000
are pledged as collateral for
bank loans. See full particulars of bonds,
property, &c., in V. 86, p. 545; V. 88, p. 1436; 1619; V. 90. o. 302; V. 93,
p. 162.
Bonds are listea on N. Y. Stock Exch.
V. 103, p. 238.
to anv
remaining profits
Dividends
on
The
consolidated
bonds consist
mortgage
Series A.
of the following:
Issued, $17,403,800. of which $1,006,000 are In the treasury and ran be
Issued only for acquisition of additional property; Series B, *17.164,475, and Series O, $636,336.
Series O bonds have sinking fund of *250.;
000 per annum, if earned,
$1,196,000
paid.
Series
which began Aug. 1
A bonds have been
1908. but cumulative until
retired. See particulars,
bonds. $228,000 are
V. 86. p. 1223; V. 93, p. 1724. Of the remaining Series B.
In treasury.
$3,363,664 Series O bonds have been
and cancellation.
Bonds of three series bore interest
retired by sinking fund
at 4% until Feb. 1
1912; thereafter 5%.
5 yrs..
Purchase Money Mtge. bonds bore Int. at 4% per ann. during first
5% per ann.
They are red. at par and int. on any int. date.
Adjustment Income Mlqe. bonds are red. at par and int. on any Int.date.
Interest is payable only if earned and is not cumulative.
Payments or
4% each were made on May 1 in 1913 to 1918. inclusive.
'No action taken
on May 1 1919 and 1920 interest.
V. 108, p. 1390; V. 110, p. 1642.
Interest on both purchase-money mortgage and adjustment income
mortgages payable at company's office or at agency of company in Chicago.
paid Nov 15 1908 on
Series 1 participation certificates.
On Sept. 1 1909 $8 was paid on Series 1
certificates.
None to Oct. 1912, when $6 was paid.
In Feb. 1913, $6;
May. $6; July, $6; Aug., $4.
In 1914, Feb.. $4; Aug.. $8. being full pay¬
ment of all arrears.
Feb. 1915 div. of $4 was paid June 5 (V. 100, p. 1671).
The Aug. 1915 div. of $4 was paid Sept. 1 1915.
In 1916, Aug., $8. In
1917, Aug., $8.
None since.
In Feb. 1914 initial div. of $2 per share
was paid on Series 2.
In 1915, June $2. In Feb. 1917, $2. None since.
DIVIDEND.—An
dividend of $4
initial
ROAD.—Comprises 583.72 miles of track
Consolidated Traction Lines).
was
(including 128 miles of the
ending Jan. 31 1919 will be found
In V. 108, p. 1382, 1506.
The combined results of the "Chicago Surface
Lines" for the year end. Jan. 31 1920 were: Gross, $43,963,438; operating
expenses, $33,254,015; residue receipts, $10,709,423.
11998
REPORT.—The annual report for year
Income Account for
of
ments.
Of which to——
. Co. 4o%.
Balance,
City ,55%
Divisible.
Inv.
on
T9-'20-$6,425,654 Dr.%56,371 $4,541,539 $1,827,744
T8-T9- 5,386,897 Dr.198,831
4,501,961
686,105
"17-*18. 7,207,762 Dr. 368,206 4,418,136 2,421.421
•
$822,485
$1,005,259
377.358
308.747
1,331,782 1,089,639
Applicable to previous years.
Income Statement (Non-Partner ship Account)
1919,
1920.
$822,485
4,541,539
119,080
Chicago Railways, 45%.
5% on investment.
Miscellaneous interest..
Gross income...
Deduct—
$5,483,104
■
•
■
■
Corp.
exp.
for Years ending Jan. 31.
1918.
1917.
$1,089,639
$1,447,740
4,418.136
4,319.783
146,585
190,846
$308,747
4,501,960
109,924
$4,920,632
$5,654,360
$5,958,369
$4,760,647
19,475
$4,765,584
84,746,786
250,000
250.000
250,000
42 ,000
222,528
60,000
168,800
30,000
153,568
•-
bonds. $4,744,888
Interest on loans.......
115,839
8k. fd. reserve accrued..
250,000
Fed. Inc. tax on int. coup
42,000
Total interest
on
147,916
& adjust'ts..
$182,461 def.$374,017
$409,976
OFFICERS.—Chairman of Board of Directors and Pres., Henry
Net, Inc. for int., &c._
$778,035
A. Blair;
Vice-Presidents. Seymour Morris and J. E. Wilkin;
Sec., F. L.
Treas., M. B. Orde.—V. 108, p. 77,1382, 1390,1506; V. 109, p. 172;
p.
Hupn;
V. 110,
658, 1642.
10 cents in
the latter.
STOCK AND BONDS—
Dale.
Common, $1,000,000 ($100).
Pref (cum), $1,000,000 ($100)
....
First
mortgage
$1,000,000
1,000.000
6%
$1,000,000/ 1918
Maturity.
Outstanding.
Interest.
750,000 Sept 1 1920
7 M-S
($500 and $1,000) gold_.c*\Harris Trust & Sav. Bank, Chicago, trustee.
bonds may be issued for 75% of exts. and enlargements
with certain restrictions.
Callable on the 1st day of any month at 101
Remaining
and Int.
EARNINGS.—For years ending Dec. 31:
Calendar Years—
Gross.
Net after Taxes.
$594,773
587,292
1917...
Road.—Owns
$118,820
173,119
Dal., Surp.
Int.,&c.
$50,488
39,223
$68,332
133,896
miles of track, of which about 5 miles leased for
operation by Chicago Rys. Co., and operates an additional 0.95 mile under
long-term lease.
72.13
OFFICERS.1—Pres., Willard M. McEwen; Sec. & Treas., Charles
N.
Hebner.—V. 106, p. 1230; V. 107, p. 1384.
EVANSTON
RAILWAY CO.
Chicago & West Towns Ry.)
Franchise.—The company
STOCK AND BONDS—
was
granted
Date.
Stock, *500.000 (*100)
First mtge bonds, gold
Redeem at
a
new
Interest.
20-year franchise.
Outstanding.
Maturity
$500,000
c*/19l3
6 g F-A
294,500
1933
103 and hit—./Int. at Merch. Loan & Tr. Co.,Ohio., True
...
General mortgage bonds
110,400
...
Bonds.—Sinking fund of 2% of outstanding bonds began 1917.
EARNINGS.—For years end. Dec. 31:
Year ending
Gross
Exp., Taxes,
Dec. 31—
Earnings.
.$207,080
1918
171,491
Depr.,Ac.
$164,723
130,661
Net
Earns.
$42,357
40,830
ROAD.—Length of single track, 10.31 miles.
Interest.
$24,489
21,479
85-lb. rail.
Balance.
Surnlus
$17,868
16,351
Nov. 22 1918 to Dec. 31 1919.
V.
Effective Aug. 8 1919, however, the Comm. auth. the co.
107, p. 2008.
charge an 8 cent fare in Chicago to continue until Feb. 1 1920.
V. 109,
p. 577.
Effective Feb. 1 1920 the 111. P. U. Comm. issued an order chang¬
ing fares to 8 cents cash, with tickets at 7M cents in Chicago.
Ticket
fare between Evanston and Chicago is 12 cents.
ORGANIZATION.—Organized In 1911 to acquire stocks, bonds and
Metropolitan West Side Elev. Ry.. Northwestern
Elev. RR. (*21,202.312 being offered for the
other securities of the
Elev. RR. and the South Side
$36,294,900 stock of these companies—see offers in V. 92, p. 1498.
All
the stocks have been turned in, a small remnant of Northwest L pref. being
bought in August 1913; V. 97, p. 728); also, if It so elects, the stocks of the
Union Consol. Elev. Ry., Chicago & Oak Park Elev. Ry., Chicago & Oak
Park Elev. RR. and Chicago & Elmhurst Ry., which companies are con¬
trolled by the afore-mentioned companies.
These roads operate about
196.22 miles of track.
In July 1914 the National City Bank offered the *14,000,000 gold notes
(V. 98, p. 1992), the proceeds of which, together with the sale of $7,000,000
10-yr. 6% debentures and *12,500,000 bond3 of the Northwestern Elev.
RR. were used to retire the *30,000,000 3-yr. notes which matured July 1
1914, and to provide working capital.
affirmed the decision of
Apr. 24 1914 the Supreme Court
Judge Scanlon of tne Circuit Court (v. 97, p. 1425) and dismissed the suit
of State Attorney Hoyne against the Met. West Side, South Side and Union
elevated railroad cos., alleging that they violated their State charter by is¬
suing watered stock.
Default. Ac.—The July 1 1919 coupons on the $7,000,000 6% debentures
not paid when due.
V. 109, p. 370.
Anticipating the default (V. 109.
p. 370) made on
in 1916 but were
the $13,626,000 2-yr. 5% secured notes (originally matured
extended to July 1 1919 at 6%) due July 1 1919. the follow¬
ing protective committee was organized and has
statement issued by the committee see V. 108. p.
called for deposits.
2527.
For
.
for Secured Gold Notes.—Charles E. Mitchell. Chairman,
Pros. National City Co., N. Y.; George M. Reynolds. Pres. Continental
& Commercial National Bank of Chicago; John H. Mason, Pres. Com¬
mercial Trust Co., Phila.; T. Hartloy Given, Pres. Farmers' Deposit Na¬
tional Bank of Pittsburgh; R. Floyd Clinch, of Crerar, Clinch & Co..
Chicago, with K. W. Berry as Sec., 55 Wall St., N. Y. City.
Depositaries:
National City Bank, N. Y., and Continental & Commercial Trust & Savings
Bank, Chicago.
V. 108, p. 2527.
TT
Me_
Report by Stone A Webster on Physical Condition of System.—V. 109, p.23o5.
Valuation to Be Made.—See V. 109, p. 1272.
Strike.—V. 109, p. 477.
Interest.
Outstanding.
Maturity.
STOCK AND BONDS—
Date.
250,000 she.
Common, 250,000 shares
Q-M
160.000 shs.
See text.
Pref, 160,000 shares, 6% cum.
6 g J-J
$14,000,000 July 11919
2-yr gold notes (closed issue)! 1914
Committee
^
„
J
"(*1,000), $14,000,000-__c*l Illinois Trust & Sav. Bank, Chic., trustee.
($100/ 1914
6 gJ-Jt
7,000,000 July 1 1924
and*1,000)
c*tfllnt. at National City Bank, New York.
Equip tr certfs gold Ser "A") 1914
5 g F-A
1,333,000 See text.
do
do
Ser "B' j
550,000 See text.
guaranteed by endorsem't. (Commercial Tr. Co. of Phila., Trustee.
Debentures $7,000,000
^
1,300.000,
Notes payable.
The
expressed at par value of $100 each,
pref. stock Is redeemable at $100 and accrued dividends.
...
Notes —Pending the formation of a concrete plan for the unification of
surface and elevated lines and appropriate municipal action in the matter,
the holders of $13,626,000 of the $14,000,000 5% notes due July 1 1916
consented to extending same to July 1 1919 (see above under "Default, Ac.")
at 6% interest, with a cash payment of $15 in respect of each $1,000 of
extended notes (to provide which the trustees borrowed $1,300,000, giving
their note therefor). In addition, the value of the security for the]notes was
materially increased and an agreement made with the Commonwealth
Edison Go, whereby all claims for power supplied to the railroad cos. after
June 30 1916 and until maturity of the extended notes will be assigned to a
trustee and will be paid only if and as other floating debt of sub. cos. (except
capital debt) is not increased. In case other collateral securities pledged for
the extended notes shall upon sale prove insufficient to pay such extended
notes in full, the said power claims then unpaid will be placed on a parity
with the extended notas.
V. 102, p. 2341; V. 103, p. 578.
The notes are
now secured by pledge of substantially all of the stock of the Northwestern
Elev. Ry., the Met. West Side Elev. Ry. and the South Side Elev. RR.,
having a total par value of $36,292,500, and notas and claims against these
companies aggregating $1,070,000.
Red. at par and int. on any int. date
on 30 days' notice.
Int. payable in N. Y. or Chicago.
Int. at rate of 5%
was paid on the unextended notes to Jan.
1 1919.
_
Deb. notes are red., all or any part, when drawn by lot on any int. date
at 102H on 4 weeks' notice.
V. 99. p. 195The eqikip. trust as above is
joint obligation of the Met. Northwestern and South Side Elev. cos. and not
of the Chicago Elev. Rys. The Ser. "A" certifs. are due in s.-a. installments
from Feb. 1 1917 to Aug. 1 1926, $102,000 each Feb. 1 and $103,000 each
Aug. 1. They are guar, by end. on each certif. by the Met. West Side El.,
Northwestern El. and the South Side El. V. 100, p. 53. $717.000 retired.
Series "B" mature $1i0,00j semi-annually from Feb. 1 1927 to Feb. 1 1929.
Dividends.—Ou pref., initial div.—IH%—paid Dec. 1 1911.
In 1912
and 1913. 6%.
In 1914, March. 1H%; June. 1J^%.
None since.
OFFICERS.—Pres., Clement O.
Smith, Milwaukee; V.-P.,
J.
P.
Pulliam. Milw.; Vice-Pres.. & Gen. Mgr., Charles F. Speed. Evanston;
Sec. and Treas., H. C. Mackay, Milwaukee; Asst. Sec., B. W. Rosenstone,
Chicago; Asst. Treas., Win. M. Chester, Milwaukee.
CHICAGO
to
ELEVATED
Massachusetts
RAILWAYS.—A
Companies.
voluntary
association
Electric
Unification of Surface and Elevated Lines and Construction of Subways, Ac.
Aug. 14 1918 the City Council passed a proposed ordinance for the
of sub¬
On
unification of surface and elevated lines and for the construction
which was submitted to a referendum vote of the people on Nov. 5
1918 and rejected by them.
V. 107, p. 1836.
For digest of this ordinance
ways,
see V.
107} p. 1292.
The roads included were the Chicago Railways Co.,
Chicago City Railway Co., Calumet & South Chicago Ry. Co., Southern
Street Railway Co., Metropolitan West Side Elevated RR. Co., North¬
western Elevated RR. Co., South Side Elevated RR. Co. and the Union
Consolidated
Elevated
Railway Co.
The ordinance provided for a
north and south subway system, an east and west subway system and
vast improvements and extensions
of surface and elevated lines; $70,943,020 was the city purchase price set for the elevated roads as of June
30 1916 with additions to or deductions from capital account to date of
effective date of ordinance.
After the referendum rejection of the ordinance
the local
Transportation Committee of the Chicago City Council took up
question of revising the ordinance and recommended a lease of the
V. 108. p. 1274.
the 111. Supreme Court upheld the right of the State
Public Utilities Comm. to regulate street car service in Chicago regardless
of the provisions of the contract ordinances of 1907, between the Chicago
City Council and the surface lines.
At midnight Nov. 2 1913 began through-routing north and south elevated
trains, using the Loop for that purpose, and established free transfer sta¬
tions between said trains and trains of Metropolitan and Oak Park cos.
traction properties.
Gn Apr. 19 1917
REPORT.—For year ending June 30 1919, in V.
Combined Earnings (Inter-Company Rentals
Net
109, p. 2167:
Deducted).
Divs.
Balance,
Other
Interest,
Sur. or Def.
Ac.
Year—
Income.
Earnings. Income. Taxes, &c.
$
"
$
$
'
$
593,539 def. 149,012
1918-19.__10,587,462 3,747,998 141,464 3,444,935
1917-18— 9,777,164 4,549,187 150,490 3,322,858 1,198,395 sur.178,423
1916-17... 9,289,913 4,465,427 151,589 3,249,996 1,176,345 sur.190,675
Gross
June 30
Calendar
Income Account of Chicago
•■Income-
Dividends.
Year
Elevated Rys. Collateral Trust.
Gross
Interest,
--$1,176,572 $195,439
1,196,702
190,981
1,218,991
153,483
1918
1917
1916
Gauge, 4 ft
8H in.
the
applied to the 111. P. U. Comm. for auth. to in¬
The Comm., however, auth. the co.
fares from 5 cents to 7 cents.
charge only 6 cents, effective from
to
•
ORGANIZATION.—Incorp. Sept. 20 1913 in Illinois to take over the
lines In Evanston, 111., formerly owned by the County Traction Co. (now thp
similar
entered Into in 1911.
Fares.—In Sept. 1918
crease
Stock.—Com. and pref. shares
CHICAGO & WEST TOWNS RAILWAY CO.
ORGANIZATION.—Incorp. in Illinois in 1913 as a consolidation of the
County Traction Co. and the Suburban RR.
Serves the communities of
Oak Park, River Forest, Maywood, Cicero, Berwyn, Forest Park, Lyons,
Riverside, Brookfield, La Grange and others, having an estimated popula¬
tion of over 135,000.
Franchises contain no burdensome restrictions and
extend beyond 1920.
About 10.5 miles of track on private right-of-way.
Fares.—Effective Aug. 9 1919 was authorized to increase fares from 5 cents
within a village and 7 cents between villages, to 7 cents in the former case
and
Co. purchased from
were
Years ending Jan. 31.
Int., 5%,
*Adjust-
Reels.
Res.
project for uniting under one control
Decision.—On
"P-A-Y-E" pass. cars.
EQUIPMENT.—Operates 1,884 double-truck
Share
the elevated railway and sur¬
carried out by July 1 1914, the Common¬
the syndicate which underwrote the
pref. shares approximately 200,000 shares of Chic. El. com. stk. for about
*6.000.000 in accordance with the terms of an agreement said to have been
As the
face roads ox Chicago was not
wealth Edison
to
now
former Chicago
[Vol; 110.
RAILWAYS
ELECTRIC
28
-
Income.
$1,372,011
1,387,682
1,372,475
OFFICERS.—Pres. of constituent cos., Britton
Griffin; Comp.. Edward A.
Interest
A
Expenses.
$1,371,513
1,362,179
1,248,674
I. Budd; Sec
Balance,
Surplus.
$498
25,504
123,801
.
vv.
V.
Brion.
TRUSTEES.—William G. Baale and Samuel Insull.
EXECUTIVE
COMMITTEE.—Samuel Insull, W. A. Fox ana J. H.
Gulick.
Insull, Chairman; Gilbert E.
Gulick and W. A. Fox.—V. 109, p. 269, 370,
2439; V. 110, p. 464.
GOVERNING COMMITTEE.—Samuel
Porter, Britton I. Budd, J. H.
477, 577, 1272, 1461, 2167, 2172,
(1) Metropolitan West Side Elev. Ry.—An electric road.
Proposed Ordinance Embodying Unified Operation of Surface and
Chicago Elevated Railways above.
Elevated
Lines.—See
ORGANIZATION.—Organized in Illinois Jan. 16 1899.
Successor on
Feb. 3 1899 (per plan in V. 67, p. 126) to the Railroad Co. sold under fore¬
closure on Jan. 4 1899.
Franchise expires April 7 1942.
STOCK AND BONDS—
Date.
Common, *7,500,000
Pref. 5% non-c, $9,000,000
First mortgage, *10,000.000
($1,000).
gold
cUf
1898
Cent.
Outstand'g. Maturity,Ac,
$7,462,800
See text.
8,707,500
See text.
4 g F-A
10.000.000 Aug 1 1938
Trust Co., N. Y., and G. Sherman, Tr.
Interest.
Y.and Chicago.
1901
4 g J-J
a5,000,000 July 1 1938
mortgage,
*5,000.000
Trust
Co.,
Chicago,
Trustee.
($1,000), gold, red at 105 Northern
on any interest day on
4 Interest at company's office in Chicago, or
Central Trust Co.. New York.
.
weeks' notice
c*tf
Int. at Cent. Trust Co., N.
Ext
Equipment trust certificates -See under Chicago Elevated Railways,
o $567,000 included in this amount is held by Chic. Elev. Rys. coll. trust.
The extension mortgage of 1901 covers the extension as a first iien,
also 68 cars, a 3,500 h. d. engine and the new down-town terminal; the
bonds also cover the rest of the property as a second lien, subject to the
_
.
*10,000.000 first mtge.
V. 72, p. 1080; V. 75, p. 29; V. 86. p. 1160.
Has guaranteed *498.000 bonds of Union Consolidated Elevated.
ELECTRIC
Ape., 1920.]
v.
■>'
■'
-
.■
.<•
.
'
Sale
LATEST EARNINGS.—See joint statement under Chic. Elev. Rys.
No separate reports now made for the subsidiary companies.
DIVIDENDS.—For dividend record
May 1916.
Dividends not
Chicago Elevated Rys.
ROAD.—From
now
see
reported
as
all
aggregating $1,989,528; $5,850 Lake St. Elev. RR. Inc. bonds Bcrip.
At
Sheriff's sale in New York on Jan. 26 1912, Mr. Church bid In for $2,000
all title of the Ry. Co. in the foregoing bond and notes, also some $473,000
additional notes of the Railroad Co., and in certificates for 91.651 17-40shares of Chic. & Oak Park Elev. RR.
V. 94, p. 1763.
The Chic. & Oak Park Elev. Ry. was incorp. in New Jersey on April 22
1904 to hold the securities of the Chicago & Oak Park Elevated Railroad
Co., formerly the old Lake Street Elevated RR., reorganized per plan In
V. 77, p. 1874; V. 78, p. 1392.
Northwestern Elevated owns 51% of stock.
terminal station at 6th Ave.
(2) Northwestern Elevated RR.
Ordinance Embodying Unified
Operation
See Chicago Elevated Railways above.
Franchise
guar
102
days* notice
ROAD.—Owns
are an
total, 61.49
m.
Side Elev. Ry.—V
230, 399, 1079, 1350; V. 105, p. 2273; V. 107, p. 1004,
'
Elevated Railroad.
Date.
BONDS—
latM.$5,000,000,g($l,000)cpt 1895
1-5 mile jof
1%
Interest.
Sec. and
OHIO.
CINCINNATI & COLUMBUS TRACTION CO.—A trolley road.
Sale, c6c.—On Jan. 31 1920 the road was sold for the account of the bond¬
holders on a joint bid to Joseph Joseph & Bro., N. Y. City, and the Hyman
Michaels Co., Chicago, price not disclosed.
V. 110, p. 658.
The pur¬
chasers, it is reported, are dismantling the property for junk.
For history
of this co. see ^'Electric Railway Section" of Nov. 15 1919.
by Nortnwestern
Maturity
& PORTSMOUTH RR.
CINCINNATI GEORGETOWN
1945
narrow-gauge steam road, but now
operated by both electricity and steam.
Under Ohio law remains a steam
road.
Has no franchise limitations and is located on private right-of-way.
In Sept. 1911 entered into a management agreement with the Felicity &
Bethel RR. and the Ohio River & Columbus RR. (a steam road).
V. 93,
ORGANIZATION.—Formerly
double-tracked (80-lb. rails)
Van Buren St., to Fifth Ave., to
Trains of the Chicago & Oak Park
Metropolitan West Side. Northwestern Elevated RR. and South Side
operate over the loop.
Northwestern Elev. also owns .15 mile of double
track from connection with loop at Van Buren A State streets to connection
with South Side El. RR., which Is leased to the latter.
V. 107, p. 1288.
ROAD.—The loop is 2.12 miles In length,
And runs on Lake St. to Wabash Ave., to
796.
p.
Road opened Oct. 10 1897.
On Jan. 1
a
1914, however, management changed and the Ohio
was again divorced from the other two roads.
Has
supply electric current for municipal distributing systems of
Georgetown and Bethel, Ohio.
Fare Decision.—On Feb. 17 1914 the Ohio Supreme Court sustained the
right of this company and the Interurban Ry. & Terminal Co. to charge
10 cents from Cincinnati to California (Ohio) and Coney Island (Ohio),
both now forming part of Cincinnati.
V. 98. p. 610.
On Jan. 15 1918 the Inter-State Commerce Comm. auth. an increase of
15% in passenger fares.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock. $1,500,000
$1,500,000
—
1st
mtge, $1,000,000, gold f 1902
5 g J-J
1,000.000 Jan
11932
($1,000)
c*llnt.at Union Sav. Bk.&Tr.,Cin.,Tr.,&InN.Y
Pel & Beth 1st M $100,000, g) 1905
5 g A-0
100,000 Oct
1 1935
($1,000). not callable—c» lint. at Union Sav. Bk. & Tr., Cin., Trustee.
ROAD.—Operates 63.7 miles from Cincinnati southeasterly to Russeiville, including branches of 3.5 m. to Batavia and 1.5 m. to Coney Island.
The Felicity & Bethel has 8.5 m. of track between the points named In Its
River
& Columbus
contracts to
South Side Elev. RR.—("Alley Elevated").—An electric elevated
road.
to Chicago & South Side
July 311900 the Appellate
(V. 71, p. 236), and on Feb.
concurred In by the State Supreme Court.
V. 74,
Franchise expires March 26 1938.
■»
.*»»
100,
curity for the $12,5G0,000 Northwestern Elev. 5s.
R.T.RR. (foreclosed per plan V. 63,p. 1158).
Court sustained the validity of the foreclosure
•"s*,
OFFICERS.—Pres., Samuel lnsull: V.-P.. Gilbert E. Porter;
CINCINNATI,
1
Franchise
Treas., W. V. Griffin.—V. 99, p. 199; V. 107, p. 1288.
Elevated Lines.—
$4,472,000 Oct
ORGANIZATION.—Successor January 1897
' *'.'•»
unissued
1288.
Outstanding.
5 g A-0
track; is operated by the Metropolitan West Side El.
—
Interest at Chase Nat. Bank, N. Y., and III. Trust & Sav. Bank, Chicago
Bonds.—Of the $5,000,000 bonds Issued, $528,000 are deposited as se
Leases the Chicago Junction
rr., which see below.
-
STOCK AND BONDS—
Date.
Maturity
Outstanding.
Interest.
Stock, $10.231.400
Q-M
$10,231,400
-----First mortgage, $8,000,000,1 1904
4H gJ-J
8,000,000 July 1 1924
gold ($1,000)
c* tf / Int. at III. Tr. & Sav. Bank. Chic.. Trustee
,
Equipment trust certfs.—See under Chicago Elevated Rys.
title.
Bonds.—Are subject to call at 105 and interest.
OFFICERS.—Pres., & Treas.. Henry A. Haigh; V.-Pres., W. J. Thom¬
May 1918.
Dividends
public, as entire stock is owned by Chicago Elevated Rys.
REPORT.—See joint statement under Chicago Elev. Rys.
No separate
reports now made for subsidiary cos.
ROAD.—Owns elevated road in operation In Chicago upon a purchased
right-of-way from Congress St. to Jackson Park and to Englewood. Elec¬
tricity was introduced as motive power late in April 1898.
Operates 430
motor cars, 52 coaches and 14 misc. cars.
On 16.15 miles of structure has
a total of 36.05 miles of single track main line Incl. 6.30 m. leased.
Also
has 9.99 miles of side-track, making total track 46.04 miles.
OFFICERS.—Same as for Metrop. West Side Elev. Ry.—V. 93, p. 528;
V. 105, p. 2273; V. 107, p. 1005.
Dividends.—See "Electric Railway" Section for
son;
not now made
„
RR.
rental being interest on bonds,
Date.
p.
295.
See V. 106, p. 715.
Auth. to issue these has been granted.
petitioned the County Commissioners
Ohio P. U. Comm. to examine the property and fix an
"equitable rate of fare," this being made imperative, owing to a wage
award to the company's men by the National War Labor Board.
V. 108,
p. 77.
In Feb. 1919 the company's petition for an increase in intra-State
passenger rates was denied by the Ind. P. 8. Comm.
V. 108, p. 578,
The $750,000 1st mtge. 5s due July 11919 had not been paid up to Mar. 27
1920 and no arrangements h id been made for the payment of same up to
that time, but we are advised that the co. will undergo a reorganization in
the near future.
V. 110, p. 1415.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Common. $750,000
$750,000
Pref, 6% cum, $250.000—-Q-J
58,900
First mortgage, $750,000
7 1899
5 g J-J,
^750^00 July 1 1919
($1,000), gold
(Interest at Un. Sav. Bk. 9c Tr. Co.. Cin., Tr.
STOCK.—Pref. stock was issued for money assessed on capital stock.
Outstanding.
Maturity.
See text.
—
$2,327,000. goldl 1905
4 g M-S
$2,327,000 Mch. 1 1945
($1,000), guar p & 1
c*(First Trust & Sav. Bank, Chicago, Trustee.
Bonds.—Are subject to call at 105 and int.
in event of consolidation with
South Side Elev., this Issue of bonds is to be retired.
V. 80, p. 871.
BondB
are guar., p. & I., by Chic. June. Rys. & Un. Stk. Yds. Co. See V. 82, p. 558.
ROAD.—Consists of an elevated road (from junction with South Side
"L" at 40th Street) to the Stock Yards, and a loop around the same, 3.75
miles.
Was completed in May 1908.
STOCK AND BONDS—
Elfner.—V. 106,
Hooven was appointed receiver upon the resignation of F. B. Shutts.
Subsequently Edgar Stark was appointed co-receiver.
ORGANIZATION.—Incorporated in Nov. 1898.
Franchise.—In Dec. 1917 was granted a new 20-year franchise authorizing
the co. to construct a new lino within city limits in lieu of a portion of its
existing route, construction to begin within one year from date of acceptance
of franchise ordinance.
The franchise gives the co. the right to carry
passengers, freight, express matter, baggage, packages and U. S. mail and
provides for 5-cent and 10-cent fares with half fare for children.
After 10
years the co. must pay the city $1,500 per annum.
V. 106, p. 394.
Receiver's Certificates.—in Feb. 1918 applied for authority to Issue re¬
ceiver's certificates to cover cost of proposed improvements to reduce
ORGANIZATION.—Organized in thelnterest of the South Side Elevated
company's track with the Stock Yards.
Only a nominal amount of stock has been Issued ($50,000). which is held in
trust for the South Side Elevated in case that company should at any time
wish to absorb it.
Is leased to the South Side Elevated for 50 years (with
right to purchase at cost within 20 years),
taxes, &c.
Franchises are without limit.
Sec., A. L. O. Henry; Gen. Mgr., A. H.
CINCINNATI LAWRENCEBURG & AURORA ELECTRIC STREET
RR.—A trolley road.
Receivership.—The company having suffered damage from the 1913 flood.
Judge Warner at Cincinnati on June 23 1913 appointed F. B. Shutts, of
Florida, receiver on application of Pres. J. C. Hooven, who, it is stated,
loaned the company $125,000.
V. 96, p. 1839.
On Dec. 28 1914 O. E.
,
RR. to build lines to connect that
Interest.
operating costs.
Fares— In Dec. 1918 the receivers
Stock
1st
223,459
189.195
expires Oct. 7 1945.
■
•
■
On July 7 1914 Judge Windes in the Circuit Court held that State Attor¬
ney Hoyne should be prevented from proceeding against the company on
the ground of overcapitalization.
See Item under caption of
Chicago
Elevated Rys." in V. 97, d. 1425. and also see V. 99. d. 199.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock
$1,000,000
Series "A" 1st mtge, gold,I 1896
5 g M-N
453,000 Nov 1 1936
gu p &1 by Met W SiELcptfG. Sherman, V.-P. Gen. Tr. Co., N.Y., Trust
Mortgage $1,000,000, of which $500,000 series "A."
V. 63, p. 4065.
Of the $500,000 Series "A" bonds, $453,000 are outstanding (of which $46,000 held by Chicago Rys. Coll. Trust); $45,000 are in treasury and $2,000
Rys
receives He. for each passenger carried, besides all expenses
operating, repairs and taxes.
Franchise expires in 1945.
Chicago Junction
449,967
433,845
ELEVATED RY
Embodying Unified Operation of Surface and Elevated Lines.
Chicago Elevated Rys. above.
ORGANIZATION.—Formed in 1898 and built from Union Elevated at
5th Ave. west to Market St.; thence to Metropolitan W. S. EL; total.
Elevated RR.;
(a)
4,198
4.362
Ordinance
,
Ordinance Embodying Unified Operation for Surface and
See Chicago Elevated Railways above.
Is used by all the Chicago elevated roads and Is owned
477.
222,310
240,288
843.682
—See
Owned, 44.98 m.; operated under con¬
(of which 9.29 m. side track).
Right of way
202 coaches and 4 miscellaneous cars.
OFFICERS.—Same as for Metropolitan West
21 1902 that decision was
873,267
—
UNION CONSOLIDATED
Chicago MUwaukee & St. Pau
Railway Co. made in 1907, this company's service was extended May 16
1908 to Evanston over the Evanston Division of the former road.
Ser¬
vice on new track elevation to eliminate grade crossings was commenced
Jan. 6 1916 on this division.
Extension to Wilmette opened April 1912
All track oper. (incl.
loop), 66.21 miles. 80-lb. T. rails. 230 motor cars.
p.
$458,038
314,390
220,603
1286.
p.
ROAD.—Miles of single track:
(3)
$522,655
507,801
484,221
RECEIVER.—Samuel lnsull.—V. 99, p. 1213; V. 105. p. 2271; V. 107,
now
Lake St.
$6,159
4,304
4,496
1915-16
1914-15
Is all owned in fee except at street crossings.
Under an operating agreement with the
for
$58,459
189,107
259,122
absolute first Hen, subj. only to the Union Elev.
Dividends.—An Initial dlv. of 1% was paid on pref. Oct. 18 1909 and
Union
-.$1,027,895
949,753
938,288
1917-18
1916-17
it
2uar. notApril reported, as entire stockto owned by Chicago Elevated Rys.
to
1911; none thereafter is March 1912, when 2% was paid,
(a)
from Fifth Avenue and
with spur down Market St. to Madison
.
1918-19
4,944,400
See text.
12,500,000 Sept. 1 1941
LATEST EARNINGS.—See joint statement under Chicago Elev.
No separate reports now made for the subsidiary companies.
p
double track elevated railway
186 passenger cars; 4 miscellaneous cars.
REPORT.—For years ending June 30 for Railroad Co.
Gross.
Net.
Other Inc.
Charges.
Deficit.
Year—
Union El. 5s.
The re¬
maining $12,500,000 Northwestern bds. may bo issued only for cash cost of
betterments, extensions and add'ns acquired after July 1 1914 under certain
conditions.
Sinking fund of 1 % outstanding bonds payable annuallv
began Sept. 1 1919.
$183,000 bonds in sinking fund April 1 1920.
Bonds
in sinking fund are held alive.
tract, 16.51 m.;
a
single track, 22.71 miles.
1st M. 5s; also secured by deposit of $528,000
vs.
...
....
Trains began running around the loop in Oct. 1897.
Chicago 9c
Harlem forms an extension comprising 4 miles more of double track.
Tota
1911
<fc int on 30(111. Tr. & Sav. Bk., trustee, under mtge.
($1.000).c*tf I Central Tr. Co., N. Y., trustee und. sup. M
The 1st M. bonds
i64,0OO
....
Lake Street to 52d St. and Lake St.,
Equipment trust certificates of 1914—See under Chicago Elevated Railways
RR.
and Central Tr. Co. of Illinois, Chic., trus.
5%
128,600
St.
$4,946,400
M-S
5 g M-S
1928
tf{Cont' & Comml. Trust & Sav. Bank, Chic.,
by N W El
6,862
1,532,000
Bonds.—First mortgage bonds assenting to reorganization were stamped
subject to call at 105 and int. on any Interest date.
The old Income bonds,
with the exception of $128,600, are held in treasury of the railway company.
Maturity
Outstanding.
Interest.
Maturity.
4,432.000 July 1
Real estate mtges
Receiver's certfs, $2,000,000--
ORGANIZATION.—Incorp. In Illinois.
Road was formally opened
on May 31 1900.
V. 70, p. 1049.
Franchises extend beyond
maturity of the bonds.
In Sent. 1901 the Union Elevated RR. was acquired.
The Chicago Ele
vated Rys. provided the cash to take up the $18,000,000 Northwestern
Elevated 1st 4s which matured Sept. 1 1911.
On Aug. 21 1911 stockholders authorized $25,000,000 1st M. 5s (V. 93
p. 527).
None of these bonds sold at the time, but in July 1914 $12,500,000 were sold (V. 98, p. 1920) to a syndicate of bankers and subsequently
disposed of by them.
Date.
Outstanding.
$10,000,000
5 J-J
1893
income mtge, $1,000,000
Equipment notes
*
Interest.
Date.
...
f
I
the
$5,000,000
Pref stk, 5% n-c, $15.000,000
1st M $25,000,000 red as af
1930.
Lake St El 1st M. $5,000,000,
for business
STOCK AND BONDS—
in
expires
STOCK AND BONDS—
Stock
of Surface and Elevated Lines.—
Common stock,
of Securities.—On June 20 1912 Geo. H. Church bid in for $256,000
the following securities formerly owned by the Chic. & Oak Park Elev. Ry.;
$859,000 Lake St. Elev. RR. 5% Inc. bonds; demand notes of Chic. 9c
Oak Park Elev. RR. variously dated from April 23 1904 to June 15 1910,
Railway'i
Section for
the stock is owned by
"Electric
westerly about 6H miles,
with branches; total length of road (including Douglas Park branch and
extension and Garfield Park branch), 23.83 miles.
Miles of single track
owned, 46.98; under contract, 6.64; total operated, 53.62 miles of track,
exclusive of 7.64 miles of side tracks.
Standard gauge.
Right of way is
owned in fee.
284 motor cars, 283 coaches and 17 miscellaneous.
On March 11 1905 the cars of the Aurora Elgin & Chicago Ry. began
operating over this company's lines to the 5th Ave. terminal under a traffic
agreement, the Met. West Side, in turn, securing the right to the territory
west of the 52d Ave. terminal on the Garfield Park line as far as the Dee
Plaines River, about 3.3 miles of double track.
V. 79, p. 1704.
OFFICERS.—Chairman of Board, Samuel lnsull; Pres., B. I. Budd
Sec. & Treas., W. V. Griffin; Aud., T. B. MacRae;Gen. Mgr., E. C.Noe.
Office, 72 West Adams St., Chicago.—V. 107, p. 1004, 1287.
whole at
29
RAILWAYS
r
to
mtge.
OFFICERS.—Pres., A. E. Rawson; V.-P., H. E. Poronto: Sec., Thorn& Asst. Sec., J. W. Austin; Aud., C. C. Chace.—V.
hill Broome; Treas.
87. P. 346.
request the
„
CHICAGO & OAK PARK ELEVATED RR.
Embodying Unified Operation of Surface and Elevated Lines.
—-See Chicago Elevated Rys. above.
Receivership.—On Nov. 13 1911 Judge Kohlsaat appointed Samuel
lnsull receiver for the Railroad.
V. 93, p. 1380.
On Dec. 29 1911 re¬
ceiver was authorized to issue $2,000,000 receiver's certificates for improve¬
ments.
V. 93, p. 1785.
In Jan. 1912 Francis V. Dobbins of Rahway,
N. J., was appointed receiver for the Railway Co.
V. 94, p. 123.
Ordinance
Foreclosure.—Judge Kohlsaat In the U. S, District Court at Chicago, on
July
17
found to
1913, ordered the foreclosure sale of the railroad.
The amount
be due was $5,080,984. Up to April 11920 road had not been sold.
No interest has been
paid.
EARNINGS.—For calendar years;
Net.
Bond Int.
Balance.
$47,974
$37,500
sur.$10,475
21,005
37,500
def.16,495
ROAD.—Operates 33.25 miles of track from Anderson's Ferry, at Cinctnnat.1. to Aurora, Harrison and Lawrenceburg.
Gross.
Year—
$149,216
129,328
1919
1918
1
1
OFFICERS.—Receivers.
1099; V.
C. E.
TTooven and
Edgar Stark.—V. 107,
108, p. 77, 578; V. 109, p. 1272; V. 110, p. 1415.
p.
CINCINNATI MILFORD & BLANCHESTER TRACTION CO.
Oct. 24 1918 as successor to
to the bondholders for
$136,000; for history see this publication for May 1918).
The new company
has an auth. capital stock of $400,000.—V. 107, p. 1836; V. 109, p. 1986;
Y. 110, p. 167.
ORGANIZATION.—Incorp. in Ohio
on
the Cincinnati Milford & Loveland Traction (sold
INTERURBAN RY. & TERMINAL CO.—A trolley road.
Receivership.--'On Oct. 1 1914, on application of the Westinghouse Elec.
ft Mfg. Co., a creditor for $2,500, Charles 8. Thrasher of Cleveland and
Charles M. Leslie of Cincinnati were appointed receivers.
The Westing
house Co.
charged that the company
terest on its bonds and Is insolvent.
tion.
See
V.
99.
p.
haa defaulted in the payment of in
The company Joined In the applica¬
969. and 1052.
In July 1907
the Suburban Traction Co. and the Interurban Term. Co.
stock, of which $900,000 was in
exchange for an equal amount of 1st mtge. bonds dated 1903.
V. 85, p.
221. 469.
The 1903 bond issue was canceled.
In 1908 a new mortgage
maae, as below.
Rate Decision.-— On Nov. 19 1915 the Ohio Supreme Court affirmed the
the decision of the Circuit Court of Hamilton County holding that the com¬
obtained authority to issue $1,000,000 pref.
pany is obliged to carry passengers for a 5-cent fare between Pleasant Ridge
and Kennedy Heights and the business section of the city.
Fares.—In Feb. 1918 the Ohio P. U. Comm. auth. the co. to increase
fares from 2 to 2 H cents per mile.
In July 1918 the receivers applied to
the County Commissioners of Hamilton County, O., for a revision of the
franchise granted by the county so as to remove restrictions as to rates
of fare. V. 107, p. 291, 802.
I?Decision.—On Nov. 26 1917 the Court of Appeals at Cincinnati, reversing
the order of the Court of Common
Pleas, held that the receivers have
no auth. to abandon the franchise between Cincinnati and Bethel as pro¬
See V. 105, p. 2272
Dismantlement.—In 1919 the
posed,
Traction Co.
were
STOCK AND
tracks and overhead
dismantled and sold for junk.
BONDS—
Date.
Interest.
Common, $2,500,000 ($100)
Pref $1,000,000 ($100) 6%
First mortgage. $1,650,000,/
1908
5 J-J
of
the
Outstanding.
Suburban
Maturity.
$2,600,000
1.000.000
See text.
1928
tf1 Int. at Citizens* Sav. <k Tr. Co., Clev., Trus.
e__
s.—Only
$122,500 of bonds were actually issued, the remainder
being used as collateral
for loans, but on Feb. 7 1916 the Citizens'
Savs
& Trust Co., Cleveland, as trustee, sold at foreclosure $1,324,000
of the bonds used as collateral to the holder of a 6% promissory note for
$1,300,000. dated June 12 1912.
Earnings.—For the year ending Dec. 31 1919, gross, $212,653; net, after
taxes, der., $16,053. In 1918, gross, $224,118; net, aft. taxes, def., $82,384.
ROAD.—Extends from Cincinnati to New Richmond, 22 miles, and from
Cincinnati to Lebanon, 33 miles.
Owned trackage, incl. second, main,
sidings, &c., 52 miles.
Operated trackage, incl. traffic arrangement in
Cincinnati, 74 miles.
Gauge, 5 ft. 2H in.
Cars enter Cincinnati over the
tracks of the Cincinnati Traction Co.
70-lb. and 97-lb. T rail.
OFFICERS.—Receiver, C. M. Leslie; Pres., Geo. H. Worthington;
V.-P., J. M. Ilutton; Sec. and Treas., J. F. Egolf.—V. 107, p. 291, 402,
802,1101.
OHIO TRACTION CO.
In Ohio on May 22 1905 and owns
practically the entire capital stock of the Cincinnati Traction Co. and
Cincinnati Car Co., besides an interest in the common and preferred
stock of the Cincinnati Dayton & Toledo Traction Co.
On July 6
1905 lease of the Cin. & Hamilton Trac. Co. was assigned to this company
by the Cin. Interurban Co. and the latter company placed in liquidation.
This company also acquired the property of the Traction Building Co.,
which went into liquidation.
Refinancing Plan.—In Jan. 1920 the Ohio P. U. Comm. approved a
modified plan of refinancing already approved by the stockholders which
provided for (1) an issue of $2,250,000 7% Ohio Trac. Co. notes, to be re¬
tired in 3 years through a sink, fund; (2) an issue of $2,250,000 Cine. Trac.
Co. 25-yr. 6% debentures.
These were used to reimburse the Ohio Trac.
Co. for moneys advanced the Cincinnati Trac. Co. for impts. and to provide
for the $250,000 reserve fund required by the franchise ordinance.
$2,000,000 of these are held by the trustee as security for the issue of 3-yr. notes.
The proceeds of the sale of the notes were used to pay the city the deficit
of $597,000 in franchise tax due it; to provide for the taking up of an issue
of $233J)00 outstanding notes; to pay off $1,075,000 in bank loans and to
pay for impts. already made.
V. 110, p. 77, 562.
The above plan permitted the co. to continue to operate on a 7-cent fare.
Under the terms of the franchise ordinance, fares would automatically
have increased to 7H cents on Jan. 1 1920 had not this plan been adopted.
V. 110, p. 77.
Compare V. 109, p. 2171, 2356.
ORGANIZATION.—Incorporated
Date.
STOCK—
Interest.
Outstanding.
tf/Int.atUnionSav.B.&Tr.Co.,Cine..Trustee.
issues of stock can only be made for acquirement of
properties and additions to the present properties
Bonds.—First mtge. covers holdings of stock of the Cincinnati Traction
Co. and Cincinnati Car Co. owned and controlled by Ohio Trac. and all
other property and franchises exception Traction cos. ownership of stock in
Cincinnati Dayton & Toledo Traction Co.
Bonds are redeemable as a
whole or in part for sinking fund On any Int. date at 103 and int.
Sinking
fund provides for retirement of bonds at maturity. V. 92, p. 726.
Amount
in sinking fund Jan. 15 1920, $542,000.
Notes.—Secured by pledge of 19,989 shares of Cine. Trac. Co. stock,
14,995 shares of the Cincinnati Car Co. stock, $2,000,000 6% debentures
of the Cine. Trac. Co. and the Traction Bldg. in Cincinnati (subject to
$1,958,000 bonds).
The remaining $1,500,000 notes may be issued for
impts. under certain restrictions.
A retirement fund of $650,000 annually
has been established to be deposited with trustee to purchase notes monthly,
at the lowest price offered, or by lot at the call price.
These notes will be
retained by the trustee and kept alive as additional security for any out¬
standing notes and the accruing int. will be used to purchase additional
notes from year to year.
Call, all or in part at 101 and int. any time on
4 weeks' notice.
V. 110, p. 562.
Dividends.—First dlv. on pref. stock—1 X%—was paid Aug. 1 1905;
and same rate paid quar. to and Incl. Nov. 1915.
The Feb. 1916 dlv. was
deferred.
See Pres. Schoepf's letter id V. 102. p. 437.
On Com., first
div.—1%—paid Nov. 1 1909.
In 1910, Oct., 1%.
In 1911, July. 1%;
Oct., 1%.
In 1912. Jan.. 1%; April, 1%; July, 1%; Oct.. 1%; Dec..
1%.
In 1913. April. 1%.
None since.
Stock.—Further
other
Fixed
Net
Balance,
Income.
Charges.
Surplus.
$272,438
$220,577
$179,000
x$41,577
1917
751,225
699,545
197,000
502,545
x The revised franchise of Aug. 23 1918 permits the Cincinnati Trac. Co.
to earn fixed sums which will become available to this company for int.,
div. and sinking fund purposes,
The amount actually earned by the Cin¬
cinnati Trac. Co. in the year 1918 was short of the ordinance allowances by
$470,511 and under the provisions of the ordinance this shortage must be
made up from earnings of future years.
OFFICERS.—Pres.. W. Kesley Schoepf; 1st V.-P., Chas. P. Taft; 2nd
V.-P., Dana Stevens; 3rd V.-P. and Sec.. Walter A. Draper; Asst. Sec..
D. J. Downing; Treas., W. H. MacAlister; Aud., E. J. Boos; Gen. Mgr.,
A. Benham.—V. 102, p. 437; V. 103, p. 579, 759; V. 104, p. 1593; V. 107,
p. 803; V. 108, p. 873, 2630; V. 109, p. 776; V. 110, p. 562.
EARNINGS.—
Calendar Year—
The Cincinnati Traction Co.
,
ORGANIZATION.—Incorporated in Ohio on Feb. 19 1901 with an auth
capital stock of $2,000,000 (which, all except 11 shares, is owned by the
Ohio Trac. Co.), to take over under lease the Cincinnati Street Ry. Co.
See V
72. p. 391.
Franchise Ordinance.—On Aug. 23 1918 the Cincinnati City Council
passed a revised franchise, which went into effect upon Sept. 23 1918.
The
franchise was signed by the Mayor, and thereby became a law, It having
been decided that the revised franchise would not be submitted to a referen¬
V. 107, p. 1191.
The ordinance modifies the company's 50-
dum vote.
year
-
$2,000,000 of the debentures are pledged as collateral under the Ohio
Co.'s 3-year 7% notes and the remaining $250,000 are held by the
as the initial payment into
the reserve fund.
V. 110, p. 561.
Trac.
trustee
Series "B" are a first mortgage on 100 new cars and mature $18,000 every
six months from Jan. 1 1911.
V. 91, p. 154.
Series "C" notes are a first
mortgage on 50 new cars.
They mature $11,000 half-yearly from Jan. 1
1912 to July 1 1921.
V. 93, p. 526.
Series
D" are a first mortgage on
76 new cars and mature $17,000 half-yearly from April 1 1913 to Oct. 1
889.
Series "E" covers 60 new double-truck
semi-annually from Aug. 31 1914 to Feb. 29
Series "F" covers 100 new double trucK cars and
matures semi-annually $27,000 on Jan. 31 and $28,000 on July 31.
Series
"G-l" are a first mtge. on 105 double-truck cars and mature $50,000 semiann.
(A & O) to April 1 1929.
Series "G-2" are a second mtge. on
the same equipment and mature $25,000 semi-ann. each April and Oct. I
to April 1924.
1922, inclusive.
franchise granted In 1896
as
permitted at the end of 20 and 35-year
and
cars
V. 95,
p.
$10,000
mature
V. 98. p. 689, 999.
1924.
REPORT.—For years ending Dec. 31:
Gross.
Bal.,Surp.
Net,after Tax.
Rentals.
Interest.
a$222,370
$5,739,992
$1,526,946
$1,234,937
$69,639
b885,669
6,020,847
2,150,842
1,234,937
30,236
794,617
1916
5,951,816
2,064,346 I 1,234,937
34,792
ordinance
a This sum is $827,550 short of the amount allowed by th
for interest and sinking fund on $4,000,000 of the impts. made to Dec. 31
1916, the return on the additional impts. to that date and the percentage
tax to the City of Cincinnati.
The deficiency becomes a cumulative charge
against the gross receipts of future years,
b This sum is sufficient to pay.
the sums allowed by the ordinance for interest and sinking fund on $4,000,000 of the impts. made to Dec. 31 1916 and the return on the additional
impts. made to that date, and Is within $171,528 of the sum due as percent¬
age tax to the city of Cincinnati.
The ordinance allows the deficit to be
Years—
1918
1917
-
earned in future years.
ROAD.—The Cincin. St. Ry. comprises 227.78 miles of track In the city
of Cincinnati,
in.
Gauge, 5 ft.
Ohio, extending also to adjoining suburbs.
W.
Kesley
Schoepf; Vice-Pres., Dana Stevens; Vice-Pres., Walter A. Draper; Sec.,
D. J. Downing; Treas., W. H. McAlister; Aud., E. J. Boos; Gen. Mgr.,
A. Benham.—V. 109, p. 676, 1179, 2171, 2356; V. 110, p. 77, 561.
OFFICERS.—Chairman
and
Comm.
Executive
Pres.,
Cincinnati Street Railway.—Electric.
(a)
Was leased
on
Feb. 21
1901 to the Cincinnati Traction Co. for the unex¬
pired term of the franchise granted by the City of Cincinnati on Aug. 13
1896. and all successive renewals and extensions of the same.
Intended to provide dividends of 5H % tor the first year, 5H
The rental is
% tor the sec¬
ond, 5M % for the third and 6% for the fourth year and thereafter.
V. 72,
p. 136.
Franchises, it is claimed by company, mature April 22 1946.
Favorable Tax Decision.—In June 1915 the U. S. Circuit Court of Appeals
at Cincinnati, reversing the lower court, held that the Government
was
obliged to return to the Cincinnati Street Ry., Dayton & Western Trac. Co.,
Columbus Newark & Zanesville Elec. Ry.. Ft. Wayne Van Wert & Lima
Trac. Co. and Indiana
Columbus & Eastern Trac. Co. about $100,000
collected from these companies under the old Federal
The question at issue was whether these companies
within the meaning of the law, having leased their
corporation tax law.
carried on business
properties to other cor¬
porations, and the only business done by them being to collect and pay out
transacted business
V. 101, p. 212.
103, p. 578.
of "Loop—See Cincinnati Traction Co. above.
the rentals under the leases.
The Court held that they
only Incidentally to that of the lessor companies;
Valuation.—See Cincinnati Trac. Co. above and in V.
Lease
ORGANIZATION.—Incorporated June 21
1880 and In 1896 purchased
Mt. Adams & Eden Park and Mt. Auburn roads.
£tock, $20,000,000
Par.
Interest.
$50
STOCK AND BONDS—
,
6 Q-J
Outstanding. Last div..Ac.
See text.
$18,738,950
Dividends.—To and including April 1901, 5% per annum; July
Oct. 1 1901 and Jan. 1 and April 1 1902, 1.3125% each; July 1 1902.
1 and
Oct. 1
1903 and April 1 1903. 1.375% each; July 1 and Oct. 1 1903
and Jan. 1 and April 1 1904, each 1.4375%; July 1904, 1*S%; Oct. 1904.
IH%.
Dividends since have been at the rate of 6% per annum and will
so continue to the end of lease and its renewals.
OFFICERS.—Pres.. B. L. Kiigour; V.-P.. Edward Goepper: Sec.
&
Treas., A. J. Beat.—V. 108, p. 924; V. 107, p. 2097; V. 108, p. 1511.
1902. Jan. 1
(2)
Gross
Income.
1918
(1)
(/) Franchise tax of $350,000 per annum to be paid te the city.
(g) City to nave right to purchase the property of the Cine. Trac. Co. and
St. Ry. either by condemnation or at the agreed valuation of
$30,856,950.
For further details see V. 107, p. 802, 1003. 1287; V. 110,
p. 561.
Fares.—On Jan. 1 1919 the original 5-cent fare provided for under the
above ordinance being found inadequate, the rate was increased to 5H
cents, and on April 1 1919 the rate was increased to 6 cents, being the next
higher scale under the above franchise ordinance.
V. 108, p. 1274. On
July 1 1919 the 6)^-cent scale went into effect and on Oct. 1 1919 the fares
were increased to 7 cents.
V. 109, p. 370, 1179.
A further increase in
fares on Jan. 1 1920 was prevented by the adoption of the refinancing plan
given under Ohio Traction Co. above.
V. 110, p. 77.
Ordinance Upheld.—On April 3 1919 Judge Frank R. Gusweiler in the
Superior Court at Cincinnati upheld the city franchise ordinance and refused
to grant an injunction to enjoin the increases in fare rates.
V. 108, p. 1511.
NOTES—
Date.
Interest.
Outstanding.
Maturity,
Debentures $2,250,000
1920
6%
See text
1945
Equip notes Ser"B" $360.0001 1910
5 g J-J
$18,000 See text.
gold ($1,000)
c*|lnt. at Fidelity Trust Co., Phila., Trustee.
Equip
notes.
Series
"C,"f 1911
5 g J-J
33,000
See text.
$220,000, gold ($1,000) _c*/Fidelity Trust Co.. Philadelphia, Trustee.
Equip
notes.
Series
D,"j 1912
5 g A-0
102,000 See text.
$340,000, gold ($1,000)_c*(Fidelity Trust Co., Philadelphia, Trustee
Equip notes Series "E" $200,-1 1914
5 g M-8
80,000
See text
000 gold ($1,000)
c*i Fidelity Tr. Co.. Phila.. trustee.
5 g F-A
413,000 See text
,
Equipment notes Series "F"f 1917
$550,000 gold
/Fidelity Trust Co., Philadelphia, trustee.
Equip notes Series "G-l" $1,-/ 1919
6 g A-0
900,000
See text
000,000 ($1,000) gold
c*I Fifth-Third Nat. Bank, Cine., O., trustee.
Equipment notes Series "G-2" J 1919
6 g A-O
200.000
See text
$250,000/Fifth-Third Nat. Bank, Cine., O., trustee
reserve.
Last Div.
Common. $10,000,000 ($100)
Q-J
$8,655,000
See text.
8,500,000
See text.
Pref, $10,000,000, 5% cum
Q-F
FJrat mtge, $2,500,000, gold,/ 1911
2,500.000
1936
6 g
sinking fund ($1,000)
lint, at Fidelity Trust Co., Phila., Trustee.
Coll trust notes $3,750,000/ 1920
7 g J-J
2,250,000 Jan 1 1923
g
periods and contains the following main features: (a) City control over ser¬
vice, extensions and all features of operation.
(6) A sliding scale of fares
based on the cost of service with 5 cents as the initial fare with universal
transfers,
(c) Company is to establish a reserve fund of $400,000 through
surplus earnings,
when the reserve fund reaches $650,000 an automatic
reduction of M cent in the rate of fare will take place.
On the other hand,
if the reserve fund should be reduced to $250,000 the rate will automatically
increase H cent,
(d) A fixed return to the company on its investment.
(e) When the rate of fare is 5 cents or less the company may retain 45%
of the surplus, the remaining 55% going to the reserve fund; when the
rate is increased to 5 H cents the company s share of surplus will be reduced
to 30%, and when 6 cents is reached the company may retain only 20%;
when the rate of fare exceeds 6 cents the entire surplus is to go to the
the Cine.
ORGANIZATION.—Incorporated In Ohio on Nov. 3 1902 and is a con
solldation of the Cincinnati A Eastern Electric Ry., the Rapid Railway Co.
($1,000)
{VOL. 110.
ELECTRIC RAILWAYS
30
Cincinnati & Hamilton Traction.—A trolley road.
ORGANIZATION.—This company
was
organized In
Aug.
1902
as
a
consolidation of the Mill Creek Valley Street Ry. and the HamiltonGlendaie
St Cincinnati Traction.
V. 75, p. 497.
On Sept. 30 1902 was leased to the
Cincinnati Interurban Co.
(V. 75, p. 906), but on July 8 1905 lease was
assigned to the Ohio Traction Co. and the Cincinnati Tnterurban Co. placed
in
liquidation.
Rental, year end. Sept. 30 1903, $55,000, increasing to
$100,000 for 1915-16 and thereafter.
On July 9 1914 Judge Sater In the U. S. DIst. Court at Columbus held
invalid the ordinance passed by the City Council on Apr. 27 1914, providing
for a 5-cent Instead or a 10-cent fare from Cincinnati to Carthage and Hartwell (see V. 98, p. 1392), and granted an Injunction against its enforcement.
V. 99. p. 196.
STOCK.—Auth. and outstanding, common. $1,100,000; 5% cumulative
pref., $1,100,000.
Dividends.—5%
Par of shares, $100.
Divs. payable Q.-J.
is being paid on the pref. stock.
The first
1904 and
was again paid on
April 1. July 1 and Oct. 1 1904.
In 1905,1%; in 1906. m%\ in 1907, 2%;
in 1903, 2%; in 1909. 234%; In 1910. 2H%; In 1911 and 1912. 3%; since.
1% quarterly.
"
[
dlv.
I
on
the
com.
per annum
of yt% was paid Jan. 1
ROAD.—Owns and operates 36.52
cinnati
imlles
of track from the "Zoo" in Cin¬
to Hamilton and 15 miles from Cincinnati to Lockland.
Gauge*
5 ft. 2M in.
Operates over tracks of Cincinnati Traction Co. from "Zoo"
to Fountain Square in Cincinnati.
OFFICERS.—Pres., B. L. Kiigour; V.-P., Geo. W. LeWis; Sec. & Treas.,
Becht, all of Cincinnati.—V. 99, p. 196; V. 106, p. 924.
A. J.
-APE.j lt»2u.:
ELECTRIC RAILWAYS
31
Dividends.—First dir.-—1 H%—under new franchise ordinance of Dec.
1909 paid April 1910 and l ti % quar. since to and including
January 1920.
CLEVELAND, OHIO.
CLEVELAND RAILWAY CO.
The receivers of the Municipal Traction Co.
having been discharged and
the debts of that company
provided for, the Cleveland Ry. Co. on Mar. 1
1910 resumed possession of its lines under ordinance (see
On^Agril 1 1920 a dividend of 1H% was to have been paid. See V. 110.
V. 90, p. 626.
Calendar
below) of Dec. 1909
The lease to Municipal Traction Co. was canceled of record.
Franchise Ordinance.—A
new
franchise
ordinance
(V. 89, p;
1667)
gassedupon the 1909 by the Cityco's property as fixed by by the Tayler.
ased
in Dec. valuation of the Council, and accepted Judge railway
was
co.,
The
ordinance grants franchises to operate on existing roads to
May 1 1934, sub¬
ject to the right of the city to purchase the property.
In May 1919 the life
of the ordinance was extended for 10 years, from May 1 1934 to
May 1
1944.
V. 108, p. 2122.
In case of purchase the city must
pay the
its property then existing, which bonded debt the city shall provide
for by assumption, by payment or by taking the
property subject thereto,
as may be provided by law at the time.
On and after Jan. 1 1918 the
city may designate
ment
of
a
purchaser
amount.
same
On
licensee in place of the city
or
Feb.
17
1910
at
a
referendum
City liy. Co., $1,805,600; total valuation, $22,933,300.
To this Is added
$1,158,300 Interest or rental accrued, making the entire "capital value"
$24,091,600.
The bonded debt of $8,128,000 and floating indebtedness
as of Jan.
1 1908, $1,288,000, or $9,416,000 In all, is deducted,
leaving
$14,675,600.
The valuation is to be increased for the purpose of fixing the
price at which the city or its nominee may purchase the property by the
amount of future requirements, including cost of new
pay-as-you-enter cars
and 75% of the cost of remodeling old cars as pay-as-you-enter cars.
Fares.—Fare to East Cleveland is same as
city fare.
Fare to other
5 cents, or 11 tickets for 50 cents, according to contracts.
The
company's schedules and routes are subject to the
supervision of the
city and the rates of fare to be fixed so as to net a return of Interest as stated
■uburbs
above
on the capital value of the
property and permit of the maintenance at
all times of a so-called interest fund of at least $500,000.
V. 89, p. 1667.
When this amount falls to $300,000 this shall be
prima facie evidence of
the necessity of raising the fare to the next higher rate.
An experimental
fare of 3c., with lc. extra for transfers without rebate, was tried to
see if
It would yield the auth. int. on capital
bonds, 6% on floating
1911 authorities ordered the fare re¬
on
debt and capital stock.
On June 1
duced to 3c. cash fare, lc. extra for transfer, but the latter to be rebated
when taken up.
V. 92, p. 1498; V. 93. p. 1190.
On Sept. 1 1914, however,
the one-cent charge for transfers with no rebate on surrender was
restored,
as the Interest fund had fallen below the $300,000 mark
V. 99. p. 608. 342
On Dec. 15 1917 the interest fund having
again fallen below $300,000,
fare of 4
cents and 3 tickets for 10 cents with a 1-cent
charge for
transfers with rebate was made effective.
Beginning Dec. 26 1917, the
rebating of the transfer charge was discontinued.
V. 105, p. 2455: V. 106,
p. 85.
In Apr. 1918 a new schedule of a 4-cent cash fare, 7 tickets for a
quarter and a 1-cent charge for transfers, with rebate, was put into effect.
See V. 106, p. 1461.
The increase was upheld by the Ohio Supreme Court.
V. 106, p. 1796.
On Aug. 4 1918 rates were increased to 5 cents cash fare
and 5 tickets for 25 cents with a 1-cent
charge for transfers without rebate,
as a result of an ordinance
passed by the City Council on Aug. 3 1918 which
fixes 5 new fare schedules and
provides for increased operating allowances.
[On July 1 rates were reduced to 11 tickets for 50 cents, with a 1-cent
charge for transfers.
V. 108, p. 2433; V. 109, p. 172; and on Dec. 15 1919
fares were further reduced to 6 tickets for 25
cents, with a 1-cent charge
for transfers.
V. 109, p. 2356.]
The fare schedules are as follows: (1)
6 cents cash fare, 9 tickets for 50 cents;
(2) 5 cents cash fare, 5 tickets for
a quarter; (3) 5 cents cash
fare, 11 tickets for 50 cents; (4) 5 cents cash
fare, 6 tickets for a quarter; (5) 4 cents cash fare, 5 tickets for 20 cents.
Each schedule provides for a 1-cent
charge for transfers without rebate.
V. 107, p. 695; V. 108, p. 2433.
On Dec. 14 1912 the Council of Cleveland
passed an ordinance giving the
company the right to transport freight within the city limits in interurban
cars and to charge the interurban
companies 25c. per car mile.
.
ORGANIZATION.—In 1908 changed name from the Cleveland Elec¬
Railway Co. (which had In 1903 taken over the Cleveland City
Ry.)
to Cleveland Railway Co., and authorized new stock to
the amount of $35,000.000.
The old stock of Cleveland Electric
Ry. was given a valuation
of $55 per share, or $12,870,000 (having
formerly boon $23,400,000) and
was
paid for in new stock issued by Cleveland Railway at
par
($100
valuation.
The Forest City Ry. (which had first absorbed the Low
Fare
Ry.) was purchased for $1.805.600 stock of Cleveland Ry., the shares of the
Forest City Ry being accepted at their par
($100) value.
tric
.
On Jan. 2
1917
a
board of arbitrators authorized the
co
to enter Into an
18-year contract with the Cleveland Electric Illuminating Co. for the
purchase of power, which was accordingly done.
Wage Award by War Labor Board.—V. 107, p. 695.
Municipal Subway.—On Nov. 19 1917 Mayor Davis appointed a com¬
mission of five Cleveland
men
to take
charge of the building of a municipal
subway system.
See V. 105, p. 2271; V. 109, p. 271, 477.
The ordinance
providing for such action was held legal by the Ohio Supreme Court in
April 1918.
Y- 106, p. 1688.
The people are to vote on April 27 1920 on
a proposed $15,000,000 bond issue for the
financing and building of the
subway.
The subway when completed is to be turned over to the
company;
which will furnish the power and the
case, for operation at a rental equal to
6% of the cost of equipment in the subways.
V. 110, p. 764.
In Mar. 1918 was auth. by the Ohio P. U. Comm.
to issue $2,700,000
new stock (not
reported in amount reported outstanding), of which $1,230,000 will be ased to pay floating debt and the remainder for
impts.
V. 106.
p. 1230.
Stockholders of record Mar. 1 1918 were offered the
right to
V. 106, p. 607.
In Feb. 1920 the Traction Commissioner applied to the City Council on
behalf of the
company for authority to issue $2,500,000 in stock for
extens.,
impts., <kc.
V. 110, p. 561.
In April 1920 the company announced that
it would issue
$1,000.000 stock at not less than par to pay for add'ns, &c.
V. 110, p. 1526.
subscribe for the
new
stock pro rata at par.
.
Increased Dividend Authorized.—Tho Cleveland
City Council on Dec. 29
1919 formally granted an increase in the co.'s
div. rate from 6 to 7%, in
accordance with the recommendations (V.
109, p. 2262; V. 110, p. 261) of
the three arbiters who conducted an
inquiry into this question.
This in¬
crease was to be submitted to a
referendum vote, but a permanent injunc¬
tion has been granted
restraining the city from printing the ballots on the
ground that the petition asking the vote was invalid.
It is stated that new
petitions will be issued (Y. 110, p. 1186).
'
The company gave notice that it would
pay a dividend of 1M % (at the
increased rate of 7%) on April 1 1920.
STOCK AND BONDS—
Stock ($100)
Date.
V. 110, p. 1186.
Interest.
Outstanding.
Maturity
$28,723,500
See text
First mortgage $35,000,000 gl 1911
5 M-S
5.495,000 Mch 1 1931
($1,000)
c*tf/Intereet In New York City or
Cleveland,
Bonds.-Of the first mortgage of
1911, $15,000,000 auth. may be Issued tor
85% of cash cost of extensions, betterments. Ac., and
remaining bonds for
60% of such cash cost, when net earnings for
previous 12 mos. shall have
equaled at least twice the int. charge, including bonds
Q-J
_
Bonds
zens
are
red.
Savings &
trustees.
proposed to be Issued.
int. date at 105 and int. on 90 days' notice.
Citi
Trust Co., Cleveland, and Bankers Trust
Co.. N. Y.
on
any
Int., Taxes &
Balance,
$800,256 for
1919
and
$232,221 for
1918.
ROAD.—Operates 393.681 miles of single track, of which 364.5648 miles
owned.
Mostly 80, 95, 100, 103 and 141-lb. standard rails; 1,438 pas¬
are
senger cars; 5 other revenue cars and 190 service cars.
OFFICERS.—Pres., J. J. Stanley; V.-P., J. H. Alexander; V.-P., R. A.
Harman; V.-P. & Gen. Mgr., Geo. L. Radcliffe; Sec. & Treas., H. J. Davies;
Asst. Treas., Wm. J. Mead; Aud.. Thos. P. Kilfoyle.—V.
109, p.
2262, 2356, V. 110,
pay¬
election the
Valuation.—Judge Tayler placed the value of the physical property of the
Cleveland Elec. Ry. Co. at 317,511,856 and the franchise value at
$3,615,844; total, $21,127,700; agreed value of property purchased from Forest
cash
Other
477, 774,
261, 561, 764, 871. 1186, 1526, 1642.
p.
on
the ordinance (V. 89, p. 1667; Y. 90, p. 167,
502).
On
July 10 1911 the City Council passed an ordinance amending that of Dec.
1909 providing, among other things, for additions to capital as
required and
particularly for the immediate expenditure of 12.500.000 for Impts., extens.
and equipt. The ordinance also providedt hat the right of the
city to pro¬
pose exten., betterm ta or impts. shall terminate whenever the unexpired
term or any renewal thereof is less than 15 years, and also that
during such
period the company may operate at the maximum rate of fare and fix the
schedules subject to the police power of the city. Provision Is also made
for
the use of surplus earnings during this 15-yr. period, either in tho
payment of
floating debt or the creation of a s. f. to purchase securities and reduce
eapltal value.
At a referendum election on Nov. 7 1911, the electors ratified
the ordinance amending that of Dec. 1909.
Has franchise in Lakewood, expiring May 1 1944, which
provides for a
3-cent fare within city limits and a 5-cent fare to Cleveland, and
gives the
City of Lakewood the right to purchase the company's lines within the
city, subject, however, to the option of the city or Cleveland to purchase
the entire property of the company.
a
Net
Earnings.
$15,459,234
Earnings.
Income. 6% Dividend.
Surplus.
1919
$4,476,098
$201,711
$3,257,890
$1,419,919
1918
12,338,906
3,587,090
105,044
2,715,914
976,220
From the surpluses as above there was deducted $619,663 in
1919, against
$744,000 in 1918, for obsolete equipment written off, leaving a surplus of
CLEVELAND SOUTHWESTERN & COLUMBUS RY.
electors ratified
val.—5%
year:
Gross
Year—
capital
value of said property, as fixed by Section 16 plus at the same time
10%
•f so much of the capital value as is
represented by capital stock, assum¬
ing and agreeing to pay, in addition thereto, all the obligations, indebted¬
ness and liabilities of the
company, aind all liens other than bonded debt
upon
REPORT.—For calendar
ORGANIZATION.—Incorporated In Ohio on March 4 1907 and Is a
consolidation of the Cleveland & Southwestern Traction Co., the
Olevelanp
Ashland & Mansfield Traction Co. and the Ohio Central Traction Co.
For
terms
of
exchange
V. 83.
see
p.
1590.
Also
owns
the
Norwalk
G&a
&
Electric Co.
in Jan. 1913 the Elyrla Grafton & Southern
Ry. reduced Its capital stock
from $100,000 to $1,000. and the Norwalk Gas & Elec. Co. from
$125,000
to $1,250.
In March 1913 the Cleveland Southw. & Col. reduced the
authorized amount of common stock from $7,500,000 to $4,236,000.
In Jan. 1917 accepted a 25-year franchise from the City of
Elyrla,
pro¬
viding for 20-minute city service and 6 tickets for 25c.
The Ohio
P.
S.
Comm.
has
from
time to time auth. the co. to issue
$548,678 1st consol. M. 5s at not less than 85 to reimburse the co. for ex^
penditures for impts., &c., and to hypothecate them pending sale.
In June 1917 the Guardian Sav. & Trust Co. purchased $75,000 car trust
6s issued against 8 new cars, maturing $10,000 each year thereafter on
May 15 and Nov. 15 until retired.
Fare Increase.—On Aug. 15 1918 a new fare schedule went into effect
which provided for a straight rate of 3 cents a mile, an increase of
H cent
a mile.
V. 107, p. 401.
An increase of 25% in class and commodity rates
has been applied for.
V. 107, p. 82.
In Feb. 1919 the co. announced that as it was practically Impossible to
refund the $127,000 Clev. Ber. Elyr. & Oberlin cons. M. 5s, due Mar. 1
1919, it had arranged to extend same to Aug. 1 1920 at 5%.
A cash pay¬
ment of $28.33 on each $1,000 bond so extended was made, thus netting the
holders a return of 7% during the period of extension.
V. 108. p. 1060.
The $95,000 1st M. 5s of the Ohio Central Traction Co., due June 1 1919,
were taken care of in a similar manner; tho
company arranging to extend the
maturity of same to Aug. 1 1920 at 5%A cash payment of $23.33 was
made, thus netting the holders a return of 7% during the period of extension.
V. 108, p. 2241.
The $110,000 Norwalk Gas & Elec. 1st 6s, due April 1 1920, were extended
to Feb. 1 1923 at 6%.
A cash payment of $14 17 on each $500 of bonds
was made, thus netting the holder a little over
7% during the period of
extension.
V. 110, p. 1186.
198
STOCK AND BONDS—
Date.
Interest.
Outstanding.
$4,236,000
2.412.000
Common $7,500,000 ($100)—Pref $2,500,000 5% cum ($100)
First general consol mortgage!
Maturity
1907
5 A-O
945,000 April 1 1927
$ 10.000,000($1.000)gc«&rcpt Int. at Cleveland Tr. Co., Cleve., Trustee.
Cleveland & Elyrla first mort¬
1895
6 Q-F
200.000 Aug. 1 1920
gage
on
18 miles
($500) Interest at Citizens' Savings & Trust Co.,
Clevelaud. Trustee.
Subject to call
cpt
1897
Elyrla & Oberlin first mort¬
6 F-A
100,000 Aug 1 1922
gage on 9 miles ($500) gold Interest at Cleveland Trust Co., Trustee.
Subject to call
cpt)
Clev Ber Elyr & Oberlin cons)
1899
5 g M-8
127,000 Aug. 1 1920
M $500,000g ($1,000
each)}Interest at Cleveland Trust Co., Trustee.
Subject to call
_
_
cpt)
Cleveland
Elyrla & Western f 1900
5g F-A
1,073,000 Aug. 1 1920
$1,500,000 Int. at Cleve. Tr. Co., Cleve., Trustee, or at
Nat. Bank of Commerce in N. Y., May be
($1,000) gold
.c&rcpt
first
mortgage
called
Elyrla
Grafton
&
Southern
Ry
first mortgage guar¬
anteed byOE&W ($100,000 ($1,000) gold
c*cpt
at
100.
1902
5 g J-J
100,000 Jan. 1 1922
Interest at Cleveland Trust Co.. Cleveland,
Trustee, and Equitable Trust Co., N. Y.
Can be called at par.
Norwalk Gas & Electric first
1900
6 A-O
110,000
Feb 1 1923
mtge, $110,000 ($500), g. Int. at Guardian 8. 8c Tr. Co., Cleveland,
Subject to call
Trustee, or Chase National Bank, N. Y.
-.cotI
Cleveland
&
Southwestern) 1903
5 g F-A
1.400,000 Feb 1 1923
first
and consol mortgage! Int. at Guardian Sav. 8c Tr. Co., Cleveland,
$3,000,000($l,000)gc&rcptI
Trustee, or Equitable Trust Co., N. Y.
C Trac first mortgage!
1899
5 g J-D
95.000 Aug 1 1920
closed ($1,000), goldc*ntf/Int. N. Haven Tr. Co., N. Hav., Conn., Tr.
Ohio Centra! Traction consol-1 1903
5 g M-8
305.000 Mar 1 1923
Ohio
Idated
mortgage
($500), gold
Cartrusts
closed! Int. at Cleve. Tr. Co., Cleveland, Trustee, or
c*cpt(
at National Bank of Commerce. N. Y.
1917
6 M-N
60.000
See text
Bonds.—Of the $10,000,000 new bonds. $3,510,000 are reserved for prior
liens and $5,545,000 are for extensions, improvements, &c.
They are
years at 105 and accrued int.
The Cleveland &
Southwestern bonds of 1903 are subject to call at 105 and int.
$1,600,000
subject to call after 10
are reserved to retire certain underlying bonds.
The Cleveland & Elyria 1st M. 6s of 1895 fell due May 1 1915, but were
to Aug. 1 1920.
Callable any Int. date on 30 days' notice, as
In 1917. lOOH'. 1918. 100'^; 1919. 100J<: theroafterat par& Int.
Of the Cleveland Berea Elyria & Oberlin 6s dated March 1 1899. $300,000
remain In reserve for the retirement at or before maturity of the divisional
of this issue
extended
follows:
6s to a like amount.
These originally fell due on Mar. 1 1919, but have been
extended to Aug. 1 1920.
The extended bonds are red. at par and int. on
any
int. date.
Of the $1,500,000 Cleveland Elyria & Western new
5s, $427,000 are reserved to retire prior liens.
The Ohio Cent. Trac. Co,
1st 5s originally matured on June 1 1919 but were extended to Aug. 1 1920.
The Ohio Central Trac. Co. consol. bonds may be called upon 30 days'
notice at 105 and int.
The Elyria & Oberlin 6s of 1897 fell due Aug. 1
1917 but were extended to Aug. 1 1922.
The Norwalk Gas & Elec. 1st 6s
originally matured April 1 1920, but were extended to Feb. 1 1923.
The
extended bonds
V.
110, p.
are
red. all
or
in part at par and
int.
on
int.
any
date.
1186.
EARNINGS.—For calendar years:
Year—
Gross.
-
1917
-
1916
L
Net (after Taxes) .Int.
$1,531,294
1,407,768
1,337,156
469,803
&c.
,
Balance.
def.
332,284
w
J
def.$57,569
64,817
$358,375
340.995
$300,806
276,177
sur.137,519
ROAD.—Operates 209 miles of track tof which 177 miles are on private
right of way) in and from Cleveland to Berea. Elyria, Oberlin, Norwalk,
Medina. Grafton. Wellington. North Amherst. Lorain Oreston. Chippewa.
Lake, Seville, Wooster, Linndale, Puritas Springs, Galion, Bueyrus. Crest¬
line, Mansfield, Ashland, Nankin, Polk, West Salem, iLodl and Le Roy,
60, 70 and 100-lb. rails., Standard gauge.
Also does freight and express
business.
Operates 66 passenger and 35 other cars: total, 101.
Company
owns
Puritas Springs and Seccaium Park and reaches Chippewa Lake.
Also
owns
and operates
electric-lighting plant in Norwalk.
OFFICERS.—Pres., F. E. Myers; V.-P., L. J. Wolf; Sec. & Troas.,
O. Wilson; Gen. Mgr., E. F. Schneider; Auditor, M. E. McGraw.
General office, Garfield B'ldg., Cleveland.-V. 105. P. 180
389
1309.
1617, 2455; V. 106, p. 607; V. 107, p. 82, 401; V. 108,|p. 2241; V. 109,
p. 1186.
'
J.
.
.
.
CLEVELAND PAINESVILLE&EASTERN RR.
•
on_
0
ORGANIZATION, &c.—Incorporated in Ohio on April 25 1895.
Road
completed in July 1908.
Franchises expire from 1920 to 1935.
In June
1906 acquired control of the Clev. Palnesv. & Ash. RR. V.82. p.1322, 1379,
In 1913 purchased the United Light & Power Co. (stock, $100.01)0
bonds. $100,000).
t
^
u
„
Rate Increase.—Late in 1917 was auth. by the Ohio P. U. Comm. to
increase lighting and power rates.
Fare Increase.—In July 1918 was authorized by the Ohio P. U. Comm.
effective Aug. 1 1918.
V. 107,
Wage Award by War Labor Board.—V. 109, p. 676.
to increase passenger rates,
p.
401.
ELECTRIC
16 1918 the company announced that be¬
conditions it would be practicaUy imposfflble
jto refund at that time
the $500,000 1st mtge. bonds and the $1,131,000 1st consol. mtge. 5s due Oct. 1 1918.
The co., therefore, arranged for
an extension of the maturing issues to Oct. 1 1923 at 7%, extended bonds
are red. all or in part at 100 and interest on any interest date on 60 days
■notic^. V. 108, p. 1274.
Extension.—On
Bond
cause
between Cleveland and Chagrin
T rail.
ROAD.—Operates 12.01 miles of line
Standard gauge.
60 and 70-lb.
Sept.
Falls.
of abnormal financial
1199878
First
gold
OFFICERS.—Gen.
Outstanding.
.......
-Cleveland Trust Co., Clev., Trustee. .
1898
7 A-O
1,131,000 Oct 1 1923
mort. (closed
$1,631.000 ($1,000), gold.cpt Int. at Citizens' Sav. & Tr. Co., Cleve.,
Consol.
Trust Co. of America, N. Y.
Trustee, or
1908
5 g M-N
926.000 May 1 1948
000,000, gold($1.000)c*cpt Int. at Clevel Trust Co., Cleveland, Trustee,
t
or company'8 agency in New York.
Bonds.—$500,000 consols are reserved to retire underlying liens.
The
mtge.. originally for $2,000,000. was closed at $1,631,000 and the balance
canceled.
The consols, originally matured Oct. 1 1918 and bore int. at
Ref and extension mtge, $5,-
extension
5% but were extended to Oct. 1 1923 at 7%.
Of the refdg. and
bonds, $1,631,000 are reserved to retire prior liens, and $2,415,000 are
reserved for future extensions and impts., to be issued only when net
earnings for preceding 12 months have been not less than 25% in excess of
interest charges on outstanding bonds, including those to be issued.
$28,000 are in the treasury.
Subject to call May 1 1938 or on any interest
date thereafter at par and interest on 30 days' notice.
The 1st mtge.
bonds originally fell due April 1 1916 but were extended to Oct. 1 1918,
and again to Oct. 1 1923; in the latter case the int. rate was raised from
5% to 7%.
ending Dec. 31 (excl. United Light & Power Co.)
Net ■■■.:.
Other
Interest
Balance,
Earnings.
Income,
and Taxes.
Surplus.
$510,455
$187,852
$10,858
$183,971
$14,738
509,856
212.447
8,000
169,656
50,791
The results of the United Light & Power Co. for 1918 were: Gross,
REPORT.—For
years
Gross
Calendar
$32,047; net, after taxes, $145,579.
taxes, $9,233.
LATEST EARNINGS.—Of Cleve.
In 1917, gross, $29,251; net,
03Calendar
Net, aft. Taxes. Interest. Bal.,
Gross.
Years—
$167,188
149,553
$231,567
175,360
$691,043
551,860
-
after
Painesv. & East RR. System for
Surp.
$64,379
25,807
Euclid, Ohio, to Painesvllle and Falrport.
Line"), and uses Cleveland Electric Ry. from Euclid
ROAD.—Owns road from
24,02 miles ("Main
Line," extending
to Public Square, Cleveland, 10 miles; also owns "Shore
from Wilioughby to Cleveland (St. Clair Ave. & 110th St.), 14.89 miles,
and uses the Cleveland Electric Ry. Co.'s track from that point to the
Public Square, Cleveland, 5 miles.
Total track operated (including 4^4
the Cleve. Painesv. & Ashtabula forms
Ashtabula. 46 motor cars and 8 other
Painesville.
Car-houses at Wilioughby and
miles of double), 46H miles.
With
continuous line from Cleveland to
a
cars.
Power-house
is
at
Nottingham.
OFFICERS.—Pres., E.
W. Moore; V.-P., F. H.
Goff; V.-P. & Gen.
Mgr.. W. H. Douglas jTreas., E. V. Hale; Sec., Fred S. Borton; Asst.
and Treas., John P. Witt, Cleveland, O.—V. 102. p. 885, 1811; V.
,p. 1489; V. 106, p. 2010; V. 107, p. 82. 401, 1191; V. 108, p. 1274; V.
.p.676.
(1) Cleveland Painesville & Ashtabula RR.—A
tirely over private right of way, except through some of
^TdricftirSCS
In 1927#
Sec.
104,
109.
trolley road. En¬
the villages, where
Default—Committee.—Jan. 1 1917 and subsequent interest Is in default.
following committee is asking deposits of bonds with the Cleveland
Trust Co.: A. G. Tame, H. D. Messick and J. A. House, all of Cleveland;
V. 104, p. 256.
ORGANIZATION.—Incorporated In Ohio in 1902.
Fare Increase.—In July 1918 was authorized by the Ohio P. U. Comm. to
Increase the mileage charge, effective Aug. 1 1918.
V. 107, p. 401.
Wage Award by War Labor Board.—V. 109, p. 676.
-The
Interest.
Date.
STOCK AND BONDS—
Stock, $1,000,000 ($100)
Outstanding.
Maturity.
$1,000,000
$1,000,0001 1902
5 g J-J
1.000,000 July 1 1922
gold ($1,000)
c^.cpt/Int, at Cleveland Trust Co.. Cleve., Trustee.
Bonds.—No sinking fund and bonds cannot be called. See V. 75, p. 549.
First
mortgage
V. 105.
ELECTRIC RY.
SHORE
LAKE
H. P. Mcintosh;
C. A. Taylor.—V. 99, p. 1909;
ORGANIZATION.—The Lake Shore Electric Ry. was incorporated on
Sept. 25 1901 under laws of Ohio as a consolidation of the Lorain & Cleve
land Ry., the Sandusky & Intarurban Ry., the Sandusky Norwaik & South
era Ry. and the Toledo Fremont & Norwaik RR.!
V. 73. p 784. About
half the road Is built on private right of way.
In Nov. 1917 the city of
Lorain granted a new franchise to the co. and its subsidiary, the Lorain
St. RR., which was rejected on the ground that the fare rate of six tickets
for 25 cents was insufficient for profitable operation. On Mar. 22 1918 the
Lorain St. RR. obtained a new 25-year franchise which provides for a
straight 5-cent fare, and^n Mar. 27 1918 a 25-year franchise was granted
to the Lake Shore Elec. Ry.
In Jan. 1920 the Norwaik City Council
granted the co. a new 25-year franchise.
V. 110, p. 167.
Controls the Lorain Street RR. and the Sandusky Fremont & Southern
Ry.. which see below.
Also controls the People's Light Sc Power Co. and
the Bellevue Illuminating & Power Co.
On Aug. 1 1918 purchased 50%
of the capital stock of the Ohio State Power Co.
(The other 50% is owned
by the Amer. Gas & Elec. Co. of N. Y.)
In 1907 made contract to supply
power to the ToledoFindlay& Fostoria and several other roads. V.85,p. 1646.
In 1910 charter was amended so as to transform the then existing 5%
cum. pref. stock of $3,000,000 into $1,000,000 6% cum. 1st pref. and $2.000,000 5% noncum. 2d pref. stock; V. 90, p. 698.
At the same time
accumulated dividends on the old pref. stock (part of which had beeD
issued later than the rest) were adjusted.
V. 90. p. 1170.1296; V. 91, p.790
In Jan. 1915 the articles of incorporation were amended to enable the com¬
to sell and distribute
pany
certain localities.
In
electricity for light, heat and other purpose#
.
The Ohio Utilities Comm. has
Earnings.
Year—
Robert D. Beatty; Pres.,
Mgr.,
V.-P., Horatio Ford: Sec. & Treas.,
p. 715; V. 109, p. 676.
Maturity.
$2,500,000 ---------mortgage,
$500,000,7 1896
7 g A-O
500,000 Oct 1 1923
($1,000 each)„c*_cpt Interest at Morton Trust Co.. N. Y.. or
Interest.
Date.
STOCK AND BONDS—
-Stock, $3,500,000 (par $100)
•
[Vol. 110
RAILWAYS
from time to time
authorized the company
additional gen. mtge. bonds, aggregating $428,000, which nave
been issued and are held In treasury.
On Feb. 10 1915 increased authorized
amount of 1st pref. stock from $1,000,000 to $1,500,000.
sell
to
Fare Increase.—In
July 1918 was authorized by
increase the mileage charge,
effective Aug. 11918.
the Ohio P. U. Comm. to
V. 107, p. 402. In Jan.
1920 the co. applied to the Sandusky City Commission for
fares to 6 cents, tickets to be sold at 5 for 25 cents and a
auth. to increase
1-cent charge to
V. 110, p. 261.
The Toledo Fremont & Norwaik RR. 1st M. 5s due Jan. 1 1920 were
extended to Jan. 1 1925 at 6H%. the extended bonds being red. at par and
int. on any int. date on 60 days' notice.
Originally there were $1,500,000
bonds of this issue outstanding but $303,000 were held in the sinking fund
as of Jan. 1 1920 and these, under the extension agreement, were
canceled,
leaving $1,197,000 to be extended.
V. 109, p. 2263.
be made for transfers.
STOCK AND BONDS—
Interest.
Date.
Outstanding.
Maturity.
$100)
$4,500,000
See text
1,000,000
Q-J
pf$l,500.000(1100)6% cum
2,000.000 No div. yet
2d pf $2.000,000(5100) 5% n-c
1 1923
1.660.000 Jan
1903
5 g J-J
First cons mtge, $4,000,000
($1,000), gold
c* tf Int. at Citizens' Sav. & Tr. Co., Cleveland
Trustee, or Trust Co., of America, N. Y
Common, $4,500,000 (par
1st
General
$7,000,000? 1903
mtge,
gold-"— —c*tf
($1,000),
2.255,000 Feb
5 g F-A
Int. at Citizens' Sav.
11933
& Tr. Co., Cleveland
In N. Y.
1897
5 g J-J
750,000 July 1 1927
Lorain & Cleveland 1st, gold
Interest at Citizens'
Sav. & Trust Co.
($1,000). $1.000.000
tf
Cleveland, or company's agency in N. Y
Trustee, or company's agency
gf 1900
6H g J-J
1,197,000 Jan 1 1925
($500, $1,000) — c*tf]Int. at Union Trust Co.. Detroit, Trustee.
certificates, J 1917
6 J-J
140.800 See text
$176,000-—
\Guardian Savings & Trust Co., Clev., trust.
T F & N 1st M $1,500,000
guar
trust
Car
Bonds.—Of the $4,000,000 first consols,
$2,250,000 are reserved to retire
prior liens; $90,000 have been canceled; $4,000,000
5 per cents are reserved to retire the first consols
of the general mortgage
and $745,000 (of which
$428,000 have been certified by the trustee and are in treasury) for exten
sions and impts.
at 80% of coat.
Neither issue Is subj. to call. A sinking
fund for the first consols, commenced Jan. 1 1909, retiring $10,000 per
annum until 1914; from 1920 to 1922, incl., $30,000 bonds p^r annum are to
be canceled.
The L. & C. bonds are callable since July 1 1917 at par and
int.The car trust certificates of 1917 mature $17,600 each July 1.
F. & N. bonds are a first Hen on the division between
bonds are a first lien on the road between
an<jl Lorain; and the 1st consol. bonds a first lien on all other
also a second mtge. on the divisions noted above.
Lien.—The T.
Toledo and Norwaik; the L. & O.
REPORT.—For years ending Dec. 31;
Cleveland
Gross.
Net.
Other Inc.
Int.&Tazes.
Deficit.
,4918
$162,794
$14,964
$307
$63,470
154,772
158,649
21,862
53.464
190
219
$78,434
1917
Years—
77,804
55,752
1916
78.047
24.364
ROAD.—Operates 30 miles track between Painesville and Ashtabula.
Put in full operation on July 30 1904.
70-Ib. T and girder rail used. Tracb
standard gauge.
Connects at Painesville with the Cleveland Painesville &
Eastern RR. and at Ashtabula with
OFFICERS.—Same
p.
as
the Pennsylvania & Ohio Ry.
Cleveland
trolley road.
CLEVELAND & EASTERN TRACTION CO.—A
ORGANIZATION.—Incorporated in Ohio on May 18 1910 to succeed
90, p. 1613) of the Eastern Ohio Trac¬
the Cleveland & Eastern division (V.
tion Co. per plan in V. 89, p. 1541, 1596.
On May 3 1915 stockholders voted to amend
the charter so as to permit
and power business. V. 100. p. 1509.
authorized by the Ohio P. U. Comm. to
Increase the mileage charge, effective Aug. 1 1918.
V. 107, p. 401.
Wage Award by War Labor Board.—V. 109, p. 676.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Common stock ($100)
$381,600
Pref stock, 5% n-c ($100)
465,865 Apr. '18 1%
First
mortgage,
$763,200.? 1910
5 g J-J
763,200 July 1 1932
gold ($1,000)
c*(Int. at Guardian Sav. & Tr. Co., Clev., Trus.
Bonds.—Bonds subject to call, any or all, on any int. day, at 103 and
Int.; began to draw int. Jan. 1 1912.
V. 91, p. 336.
Dividends.—The first dlv. on the preferred stock—14%—was paid In
Nov. 1915.
In 1916 and 1917. 3% each.
In 1918, Jan. 1%; April, 1%;
company to engage in electric light
Fare Increase.—In July 1918 was
none
since.
EARNINGS.—For calendar years:
Year—
1919
Gross.
Net {aft. Taxes).
__$298,724
$109,176
Int.
$38,160
Dividends. ' Surplus.
$71,016
246,807
67,017
38,160
$9,317
19,540
ROAD.—Operates 40 miles of track from Cleveland to Chardon, Burton
and MIddlefleld, Ohio.
Standard gauge.
60-lb. T rails.
1918
Mcintosh; V.-P., Horatio Ford; Sec. and
Gen. Mgr., Robt. D. Beatty: Treas., C. A. Taylor.
Office, 708 Belmont
Bldg., Cleveland, O.—V. 100, p. 1509; V. 101, p. 1627; V. 102, p. 437;
V. 106, p. 924; V. 107, p. 401; V. 109, p. 676.
OFFICERS.—Pres.,
CLEVELAND
&
H.
(V.
CHAGRIN
FALLS RY. CO.
ORGANIZATION.—Incorporated in Ohio on Feb. 18 1910 to take over
Ohio Trac., sold Feb. 5 1910.
Receiver.—In Jan. 1918, the receiver, who had
been in charge of the pro¬
perty since July 1917, was discharged.
In Jan. 1918 capital stock was reduced from
$30,000 (par $10).
Wage Award by War Labor Board.—V. 109, p.
Date.
Interest.
$300,000 (par $100) to
REPORT.—For
1919
1918
1917
Dec. 31, excluding Lorain Street RE.
light and power companies.
.
Net(aft.Tax.)
Gross.
Oth.Inc.
L— 1,734,660
$339,801
472,860
465,026
1,419,750
343,503
334,577
—
Surplus.
Interest.
<
$577,180
,—$2,067,225
$237,379
129,357
130.449
$20,416:
$34,196;
180 miles, extending from Cleveland to Toledo and
Sandusky to Norwaik; also city lines in Sandusky;
rails.
Through line from Clev. to Toledo was
opened for business about Aug. 26 1902.
In addition owns the Sandusky
Fremont & Southern, 20 miles, and the LoraLn Street RR., 24.77 miles,
making a total of 216.77 miles.
114 passenger, 7 baggage, 52 work and
freight cars.
Total, 173.
ROAD.—Operates
Sandusky, and from
standard gauge; 70 to 100-lb.
OFFICERS.—Pros.. E. W. Moore,
Goff and A. Lewenthal. Cleveland;
Cleveland and N. Y.; V.-Ps.. F. H.
V.-P.. Sec.-Treas. & Gen. Mgr.. F. W.
Sandusky, O.; Asst. Sec. & Asst. Treas., M. E. White.—V.
p. 2116, 2345; V. 107, p. 402; V. 108, p. 2123; V. 109, p. 2263; V.
p.167,261.
Coen,
106,
110,
Lorain Street Railroad Co.—A trolley road.
(1)
ORGANIZATION.—Incorporated in Ohio on Aug. 3 1906 and Is a con
solidation of the Lorain St. Railway and the Avon Beach & Southern RR
Entire stock owned by the Lake Shore Elec. Ry.
Operates on private
right-of-way except three miles in Lorain and Elyria, on which franchises
run
until
March
1943.
The $200,000 6% notes
due Jan. 1 1920 were paid off at maturity out of
the company.
Compare V. 109, p. 2357.
current funds and funds of
Maturity.
$25,000
$23,555
;1918
95,568
23,292
Outstanding.
Int.
$15,114
15,114
Surplus.
$8,441
8,178
Maturity.
1899 5 g M-N
Bonds.—Of the $2,000,000 cons, bonds; $750,000 are reserved for prior
liens and $750,000 for extensions, <fec.
They are guar*, prin. and int., by
endorsement
by the Lake Shore Electric Ry.
Int.Paid.
-$354,040
$264,089
$89,951
$56,453
288,980
199.628
89,353
57,108
Passengers carried in 1918, 4,273,220; in 1917, 3,711,368.
1919--1918
ROAD.—Operates
Beach Park.
(2)
Gross. Net (aft. Taxes).
$106,442
Interest.
$2,000,000
550,000 Nov 1 1949
gold ($1,000)
c*.tf Int. at Guaranty Trust Co., N. Y., Trustee.
1906
5 g J-J
First consol mtge $2,000,000
See text July 1 1936
gold guar $1.000)
c*.tf Int. at Citizens' Sav. & Trust Co., Cleveland,
Trustee, or Agency In New York.
EARNINGS.—For calendar years:
1919
Date.
STOCK AND BONDS—
8tock $2,000,000 ($100)
Lorain St Ry 1st M $750,0001
676.
Falls 1st M$300,-f 1910
6 g J-J
:
.' 251,900 Jan
1 1930
000 g ($100 & $500) —c*\Int. at Guardian Sav. & Tr. Co.. Clev., Trus.
Bonds.—Subj. to call any or all on any int. date at 102H and Int.; $48,100
are In treasury.
ending
Passengers carried in 1918, 5,947,163; in 1917, 6,241,350.
Earnings for 1918 of the People's Lt. & Pow. Co. were: Gross,
net, after taxes, $5,049; and of the Bellevue 111. & Pow. Co., gross,
net, after taxes, $11,787.
Clev & Ch
Y*ar—
years
Sandusky Fremont & Southern Ry. and
REPORT.—For calendar years:
Cal. Yrs.— Grosslnc.
Exp. & Tax. Net Earns.
Outstanding.
Stock. $30,000 ($10)
.
101.
P.
the Clev. & Chag. Div. of the East.
STOCK AND BONDS—
div. on 1st pref., 1H%, paid Oct. 1 1910; same
quarterly to and including April 1915.
July 1915 dividend omitted
p. 47).
None since.
>.•••
Dividends.—Initial
amount
Year—
& East, above.—V. 92.
V. 106, p. 2010; V. 107. p. 401.
Painesv.
322; V. 98, p. 386; Y. 104, p. 163, 256;
lines and
The
24.77
Surplus.
$33,498
32,244
miles of track between Elyria, Lorain and
24 cars.
V. 105, p. 2543; V. 109, p. 2357.
Standard gauge.
Sandusky
Fremont
&
Southern
Ry.
ORGANIZATION.—Incorporated In Ohio In April 1906.
Is operated
part of main line of Lake Shore Electric Ry. between Cleveland and
Toledo.
Lake Shore Elec. Ry. owns entire stock.
Private right of way.
as
Apr., 1920. j
ELECTRIC RAILWAYS
STOCK AND BONDS—
Date.
Stock, $2,000,000
First
mortgage.
Interest.
Outstanding.
Maturity.
—Owned by the Lake Shore Electric Ry.—
$2,000,000, f
1906
5 g J-J
$645,000 July 1 1936
gold ($1,000),
guar—c»tf{lnt. at Citizens Sav. & Trust Co.. Cleve.,
[
Trustee, or at Agency in New York.
Bonds.—Are guaranteed, prin. and int., by endorsement,
by the Lake
not subject to call.
See V. 83, p. 1099.
Shore Elec. Ry.;
REPORT.—For calendar
•Calendar
Gross
Income.
years:
Net
Interest
Balance.
Earnings.
Paid.
Deficit.
S93.877
$17,193
$32,250
def.$15,057
72,906
25,709
32,250
6,541
61,394
31,322
32,250
928
Passengers carried in 1918, 287,165; in 1917, 345,080.
ROAD.—Operates a line from Sandusky to Fremont, 20 miles.
14 cars.
—V. 83, p. 97, 1099.
Year—
1918
1917
1916
Expenses and
Taxes.
8111,071
98,615
92,716
a
.V,;
■
■
y v.-
33
Dividends.—First div.
None to July
on
pref.—3%—paid July 1 1906; Jan. 1907, 3%.
1911, when accrued dlvs.
were paid
up In full; 1H%
paid
Jan. 1920.
Initial div. on common—\i%—
paid Oct. 1917.
In 1918. Jan., H%; July,
J*%; Oct., y2%.
In 1919.
Jan.,
July, y%.
None since.
quar. since to and
including
EARNINGS.—For calendar
years:
Year—
1919---
Gross.
*Net.
Interest. Pref.Divs. Com.Divs.
Surplus.
$1,458,685 $187,508 $249,532 $53,640 $30,000df.$145,664
19181,562,152
315,624
239,321
53,640
40,000 defl7,337
•
After deducting operating expenses, taxes, int. on
Parr Shoals bonds
and divs. on Parr Shoals
pref. stock.
ROAD.—Operates 25.15 miles of track; 50 cars.
Owns 2 power plants
with a total capacity of about 18.000 h. d.
OFFICERS.—Chairman of Bd. & Treas., E. W. Robertson;
Pres.,
F. H. Knox; 1st V.-P.,
Henry Parsons; Sec., L. F. Pearce; Gen. Mgr.,
V. S. Wright.—V. 106, p. 924,
929; V. 109, p. 477, 1272, 2356; V. 110
p. 561, 969.
'
.
CLINTON, IOWA.
clinton
street
COLUMBUS, GA.
ry.
columbus electric co.
ORGANIZATION.—Incorp. in Iowa Feb. 4 1891.
the
co.
ness.
Under its charter
is auth. to conduct a street railway, light, power and
heating busi¬
Franchise covering main street of the city is
perpetual; others
expire
1935
and
1938.
STOCK AND BONDS—
Stock
$1,000,000
Date.
Interest.
Outstanding.
Maturity.
($100)
•
$596,600 See text.
1906
5 g A-O
400,000 Mar 311926
($1,000)
c*|Int. at Illinois Tr. & Sav. Bk., Chic., Trustee
Bonds.—Callable at 105 and int. on any int. date on 90
days' notice. A
supplemental mortgage provides that beginning April 1 1918 a fund of 2%
of the bonds outstanding or retired by this fund be established to be
used
for renewals, betterments, &c., or for the
purchase of bonds up to 105
and interest.
V. 104, p. 862.
Dividends.—Paid 6% dividends from 1907 to 1913, Incl.
(except 5% in
1912).
In 1913 the stockholders advanced a substantial sum for construc¬
tion, &c., and waived dividends while this sum was being paid out of earn¬
ings; ,#41,400 was so paid in 1916.
First mortgage $400,000
gold!
ORGANIZATION.—Incorporated
in Maine on Feb. 6 1903 and owns all
stock of the Gas Light Co. of Columbus; the entire common
stock
and $121,300 of the pref. stock (out of
$350,000) of the Columbus Power
the
Co.. and all the stock of the Columbus RR. Co.; also guarantees tne bonds
of the Columbus Power Co. as to
principal, sinking fund and interest.
The above companies do the entire electric
railway and lighting, gas and
business of Columbus and vicinity and the adjoining towns of
Phoenix City and Girard, and a wholesale
power business in Columbus,
power
Newnan, Hogansville,
In 1918, gross, $183,698; net, after taxes, $67,438.
cars
from
Davenport enter to
tracks under traffic agreement.
centre
of city
over
the company's
v,,.'.;
OFFICERS.—Pres., C. H. Young; V.-P., R. C. Langan; Sec., A. L.
Schuyler; Treas., C. C.Coan; Gen. Mgr., Bernard Bohnsen.
V. 104,p.862.
THE
COFFEYVILLEi KAN.
UNION
STOCK AND BONDS—
was
1957.
granted
Road is
Cherry vale
permit to do business in Oklahoma.
Franchises expire
private right of way except in Coffeyville, Independence,
Parsons.
a
Fare Increase.—In Sept. 1918 was auth. by the I.-S. C. Comm. to in¬
fares between Parsons and Coffeyville, and Nowata, Okla., and
intermediate points to not to exceed 2.6 cents per mile.
V. 107, p. 1194.
crease
STOCK AND BONDS—
Date.
Interest.
Stock, $500,000
First mtge, $1,000,000,
gold/ 1907
($1,000), sinking fund—tf [Warren
Second mortgage
___tf 1911
-
Outstanding.
Maturity.
$500,000
See text.
5 J-J
947,000
Jan 1 1937
(Pa.) Trust Co., Trustee.
6 A-O
100,000
Oct 1 1921
Bonds.—1st M. bonds are red. ann. by lot at 105 and Interest since Jan.
1912, through s. f.; $53,000 have been retired.
S. f. of 10% of net earnings
annually began in 1911.
Int. at Nat. City Bk., N. Y.; Commercial Nat.
Bank, Chic., and Tradesmen's Nat. Bank, Phila.
See V. 88. p. 1003,
Dividends.—A dlv. of 6% was paid during the fiscal year end. June 30 *13.
EARNINGS.—For year ending Dec. 31 1917, gross, $382,059;
net, after
taxes, $100,034; int. on bonds, &c., $73,905; surplus, $26,129.
ROAD.—Operates 67 miles of road, of which 9>S m. in Coffeyville, 7
miles in Independence and 50H miles of Interurban road between
Coffey¬
ville, Independence, Cherry vale and Parsons.
70-lb. T rails.
Purchases
power from the Kansas Gas & Elec. Co.
OFFICERS.—Pres., D H. Siggins, Warren, Pa.; Sec.. H. A. SIgglns;
Treas., Sam Q. Smith.—V. 105, p. 2544; V. 107, p. 1194, 2377; V. 109,
p.
Interest.
Outstanding.
Maturity.
Columbus Pow 1st M
000 gold guar
$4,000,-/
1906
5gA-0>
3,760,000 April 1 1936
c*tflint, at Commonw. Tr. Co., Boston, trustee.
Bonds.—The bonds of the Columbus Electric Co. are
subject to call as r
whole at 105 & int.
$53,000 are in treasury.
An "improvement fund" of
per annum of outstanding bonds commenced in 1905.
The 2-year
notes are callable as a whole on any int.
day on 30 day's notice at 100 and
In Dec.
on
and
Date.
Com. $1,500,000 ($100)
$1,500,000
Pref, 6% cum,$1.500,000($100)-__.
J-J
1,200,000 Jan'20, 3%
1st coll M, $1,500,000,
gold/ 1903
5 g A-O
758,000 April 1 1933
($1 000)
c*ntf 1 Int. at Old Colony Tr. Co., Boston. Trustee.
3-year notes $2,500,000 gold/ 1919
6 g J-J 1
1,750,000 July 1 1922
($100, $500 & $1,000)-c*tflint, at Oommonw'th Tr. Co., Boston, trus.
2%
TRACTION CO.
ORGANIZATION.—Incorporated Sept. 28 1906 in Kansas.
1916
indebtedness, amounting
$170,000, incurred for additions and extensions.
V. 108, p. 2629.
to
-
ROAD, &c.—About 16 milps of single track equivalent and 32 single truck
cars.
Current is purchased from the Clinton Gas & Electric Co.
Interurban
Grantville, Moreland
of $7,500 per ann.
$115,000 pref. stock is held by the Public Service
Investment Co.
In July 1919 brought out
$1,750,000 3-year 6% notes,
proceeds being used to retire an issue of $1,500,000 6% notes due at that
time, and to provide for the company's floating
EARNINGS.—For year ending Dec. 31 1919, gross,
$210,898: net, after
taxes, $71,641.
Lagrange, Lanette, Trimble,
and West Point.
Principal franchises perpetual.
The freight lines are
leased to the Seaboard Air Line Ry. for 50
yrs. from Oct. 17 1901 at a rental
V. 105, p. 817.
(or in part for
sinking fund of 1% of
for sinking fund and
int.
whole
Columbus
Electric
Notes.—Callable
The Columbus Powe^.' Co. bonds
sinking fund) at 110 and int.
bonds out began April 1 1912.
canceled.
Co.
Bonds
are
callable
are
as
a
any int. day.
A
$240,000 purchased
guar., p. & i., and s. f.t by
on
whole at 100 and int.
as a
on any int. date
upon 30 days'
Should the company place any further lien or encumbrance on
the property, it will secure this issue of notes
equally.
The outstanding
amount of first mtge. coll. trust bonds will not be increased
unless the
notice.
proceeds are used to retire notes of this series.
V. 108, p. 2629.
Dividends.—First div. on pref. stock, 3%, was paid Jan. 1907:
3% has
been paid semi-annually since to and including Jan.
1920.
PROPERTY.—25.9 miles of equivalent single track, of which 5 miles
to Seaboard Air Line until 1952.
48 cars; 2 steam locomotives
(leased to S. A. L. Ry.).
Standard gauge.
Controls hydro-electric plants
with a capacity of 18,900 k. w., and a steam
plant of 9,000 k. w. capacity.
leased
EARNINGS.—For 12 months ending Dec. 31:
Cal.
Gross
Net, after
Interest
Year—
Taxes.'
Earnings.
Charges.
1919
$1,309,281
$612,055
$366,240
1918
1,181,413
614,100
340,942
Sinking &
Impt. Fds.
Balance,
Surplus.
$245,815
273,158
OFFICERS.—Pres., Harry H. Hunt; Sec., Geo. A. Peirce; Treas.,
Henry B. Sawyer; Gen. Mgrs., Stone & Webster Mgt. Assn., Boston.—
V. 105, p. 817; V. 106. p. 395; V. 107, p. 1919; V. 108,
p. 2629.
-
2264.
COLUMBUS, IND.
COLORADO
colorado
springs
&
indianapolis columbus & southern traction co.
Lease.—In Dec. 1912 was leased for 999 years to the Inter-State Publlo
Service Co., a subsidiary of the Middle West Utilities Co., at a rental of
SPRINGS, COL.
interurban
ry.
ORGANIZATION.—Incorporated in Aug. 1902 as a consolidation of the
Colorado Springs Rapid Transit Ry. and the Colorado
Springs & Suburban
Ry.
Effective June 8 1919, was auth. by the Colo. P. U. Comm. to in¬
crease fares from 5 to 6 cents.
V. 108, p. 2433.
The consolidated company
has issued $1,500,000 stock, of which $500,000
pref.
Bonds ($1,000, 5%
M-S., due Sept. 1932, Central Trust Co., N. Y., trustee) auth. and issued,
$1,500,000. ■.
;.v
EARNINGS.—For
$120,022.
cal.
In 1918, gross,
ROAD.—Owns
38
miles
1919, gross, $487,547; net, after
$367,476; net, after taxes, $98,509.
year
of track.
In
1919 added 35
one-man
taxes,
to
cars
-/.y. ■/ OFFICERS.—Pres., D. H. Rice; V.-P., W. Lennox: Sec.. Wm. Lloyd;
Treas., C. S. Chamberlin.—V. 70, p. 75, 175, 328; V. 108, p. 2433.
COLUMBIA, S. C.
columbia
railway. gas
power
and
gas
the
&
electric co.
entire street
railway, electric lighting,
business in Columbia, S. C.—Name changed from Columbia
on May 15 1911.
V. 92,
incorporated In Indiana in 1895. i Name changed
In Sept. 1912 increased its auth. stock to $1,840,000.
was
above in Jan. 1903.
STOCK AND BONDS.—
organized in So. Caro. Jan. 6 1892 and was a consolidation of the Colum¬
bia Elec. & Suburban Ry. Co. and the Congaree Gas & Electric Co.
Ac¬
quired the Columbia & Eau Claire Electric Ry.
Owns all the stock and
bonds of the Columbia Gas Light Co., which is also leased.
Operates under
rights granted by State of So. Caro. (which owns the city streets), expiring
Dec. 16 1941.
Gas franchises granted by State and city franchises covering
all departments are without limit of time.
In June 1912 acquired Parr Shoals Power Co. (stock
$2,000,000 com., all
owned, and $300,000 pref.), which on May 30 1914 placed In operation its
new hydro-electric station
(present capacity 18,000 h.p.; ultimate capacity
30,000 h.p.) on the Broad River, near Alston, S. C., 27H miles northwest
of Columbia, supplying the requirements of the
controlling co. (V, 95, p.
1122; V. 98. p. 154. 1844.)
Offer to Sell.—See V. 109, p. 2356; V. 110, p. 561.
Fares.—Effective July 1 1919, the company
put into effect a flat 7-cent
cash fare, tickets being sold at 4 for 25 cents.
V. 109, p. 477.
The $100,000 Col. Canal Co. 6% bonds originally matured Jan. 1 1919
but were extended for two years.
V. 109, p. 1272.
was
STOCK AND BONDS—
Date.
Interest.
Common, $2,000,000 ($100)--
$1,000,000, 6% cum.I
Q-J
($100)
First mortgage, $7,500,000,
1911
5 j-j
gold ($1,000)
c*tf Int. at co.'s office
Pref.,
Outstanding.: Maturity.
$2,000,000 July'19.H%
894.000 Jan '20,1J4
_
IN. Y.
Parr Shoals P
Parr Shoals P
pfd stk $300,000
2,685,000 July 1 1936
or at Chemical Nat. Bk.,
Columbia Trust Co., N. Y., Trustee.
7%
1st
300,000
"
mtge, $3,-/ 1912
5 g A-O
3,000,000
Apr 1 1952
000,000 ($1,000), goldc*tf tColumbia Trust Co., Trustee.
Col Canal Co mtg, $200,000tf
6%
100,000
Jan. 11921
Bonds.—Of the outstanding first mtge. bonds of 1911, $60,000 are
deposi¬
ted to guar. int. on Canal Co. 6s.
Of unissued bonds, $200,000 are reserved
to retire Canal Co. bond* and $4,497,000 for
improvements, additions, ac¬
quisitions, &c., under certain restrictions.
Bonds are subject to call on any
Int. date at 105 and Int.
Since July 1 1912 an amount
equal to 1% of bonds
out must be expended for impts., &c., against which no bonds
may there¬
after be issued, and since Dec. 15 1915 a further 1% for retirement of
bonds.
See V. 93, p. 229.
Parr Shoals Power bonds are guaranteed,
p. & I., by end., by the Columbia Ry., Gas & Elec. Co.
Sinking fund of
M of 1% semi-annually of bonds out from 1918 to Jan. 1 1952, incl.
They
are subj. to call at 105 & int. on 60 days' notice.
Int. payable in N. Y.
____
Date.
Interest.
Outstanding.
Maturity.
Stock. $1.840,000.
$1,840,000
See
Firtt
mortgage,
$1,000,000/ 1903
5 g F-A
932,000 Feb
gold ($1,000)
c*tf lint, at Commercial Trust Co., Phila.,
Bonds.—Cannot be called.
$68,000 are reserved for exten. and
at not exceeding $15,000 per mile.
See V. 76, p. 654; V. 82, p. 1212.
text
1 1923
Trust.
impts.
ROAD.—Operates 62.38 miles of track between Indianapolis, Franklin
and Columbus and Seymour, of which 3.86 miles belong to Ind. Trac. & Ter.
Co.
Standard gauge.
60-lb. T rail.
Mostly private right-of-way.
It
connects with Indianapolis & Louisville Elec. Ry., thus forming a
through
line from Indianapolis to
Louisville.
OFFICERS.—Pres., Wm. G. Irwin: V.-P.. L. I. Sweeney; Sec. & Treas.
Hugh Miller, all of Columbus, Ind.—V. 86, p. 421; V. 95. p. 680.
Electric Street Ry., Light & Power to the above
& Pow. CoJand the Columbia
£.t.1374. Is a consolidation on July 1Water of the Columbia Electric St. Ry.,
1905 Pow. Co. The first-mentioned
5%
See
ORGANIZATION.—Formerly the Indianapolis Greenwood & Franklin
RR., which company
as
-
its equipment.; ;
ORGANIZATION.—Does
the capital stock, or $92,000 a year above all taxes.
V. 95, p. 680.
Inter-State Public Service Co. in V. 95, p. 1745; V. 96, p. 1157T
on
COLUMBUS,
columbus railway, power
OHIO.
& light co.
New Management.—In Jan. 1919 Messrs. E. W. Clark & Co., Phlla.,
withdrew from the management of the co. in favor of Columbus interests.
ORGANIZATION.—Incorp. in Ohio Nov. 1913 to succeed the Colum¬
(incorp. Dec. 26 1906 as successor to the Central Market
Ry., sold under crtutor's bill in Feb. 1906, subject to the $500,000
bonds) and took over the Columbus Ry. Co. and the Columbus Edison Co.
as
per plan in V. 96, p. 1839.
The leases between these two cos. and the
Columbus Ry. & Lt. Co. were then canceled.
The Columbus Lt., Ht. & P.
bus Traction Co.
St.
Co.
was
acquired in Jan. 1915.
Owns and operates
See "Elec. Ry. Section" for Jan. 1915.
the city street railway system of Columbus and sub¬
urban lines to Marble Cliff and Westerville, and the commercial electric light
and power systems of the city and vicinity.
Franchises for 20-84 milea
of railway are perpetual; others expire in 1919, 1926 and 1942.
The fran¬
chises provide for 8 tickets for 25 cents and universal transfers.
Two of
the light and power franchises are perpetual; others expire in 1926 and 1928.
In June
1917
a
new
franchise for 25 years was granted on the Wester¬
ville line, providing for a zone system
with a sliding scale of fares ranging
(In July 1919 fares were increased from 5H to 6c.
V. 109, p. 270.)
The company is to be allowed to earn 6% on
Its then existing investment (fixed at $350,000). and 8% on future capital
invested.
The public may purchase the Westerville line at an increase of
10% over the actual value at time of purchase
Valuation.—On Mar. 18 1918 the co. submitted the results of its appraisal
(ordered in June 1915 in connection with light and power rates) to the
Ohio P. U. Comm., placing a valuation of $7,105,809 on the properties
from 2 Yi to 6c. per zone.
per zone.
used
in electrical
operation
(except in railway and district heating).
V.
p. 1344.
In May 1918 the engineers of the Ohio P. U. Comm. placed
reproductive value of only $6,240,046 and a present value of $5,725,963
upon the same property.
V. 106, p. 2345.
The physical property of the
co. (exclusive of allowance for going value, franchises and other intangible
106
a
values) has been appraised at $20,158,680.
V. 107. p. 1287.
Fares.—On Feb. 25 1918 the City Council of Columbus, O., turned
the co.'s application for an increase in ticket fares to 6 tickets for
25 cents.
They also Ignored the co.'s offer to surrender its present fran¬
chise in exchange for a new franchise giving to the city control of the service,
extensions, impts. and betterm'ts, on a sliding scale of fare that would pay
the cost of service, such cost to include a reasonable return on the invest¬
ment.
V. 106, p. 1036.
In Aug. 1918 the co. began charging a straight
5-cent fare with a one-cent charge for transfers.
On Oct. 27 1918 the
down
U
S. Dist. Court held that the co. must adhere to Its franchise obligations.
V. 107, p.
1747.
The
co.
appealed, but
on
April 14 1919 the U. S. Supreme
Court affirmed the decision of the Federal Court. V. 108, p. 1822. Compare
V. 108, p. 77.
In Jan. 1919, however, after the change in management,
old rate of 8 tickets for 25 cents, but applied to the
City*Council for auth. to charge a 5-cent cash fare with 6 tickets for 25
cents and no transfers except on cash fares.
On Aug. 13 1919 the voters
defeated an ordinance authorizing the co. to sell 6 tickets for 25 cents.
V, 109, p. 774. 887.
Compare V. 108, p. 1511, 1721. 1822.
In Feb. 1920 the City Council passed an ordinance providing for (1)
a'6-cent cash fare with 5 tickets for 25c. during the next 2 years; (2) a 5-cent
cash fare with 6 tickets for 25c. during the remaining 4 years of the co's.
franchise; (3) 10-cent fare on owl cars; (4) free universal transfers.
For
further details see V. 110, p. 561, 658, 1526.
In Jan. 1916 $3,500,000 1st ref. A ext. sinking fund bonds were sold to
E. W. Clark A Co., Phila., and Kissel, Kinnicutt A Co., N. Y., to take up
$1,200,000 notes and $1,439,000 underlying liens on the power and light
properties, and provide for improvements, extensions, &c.
V. 102, p. 621.
In March 1917 the Ohio P. U. Comm. auth. the co. to issue $508,200
Series A pref. stock at par and $1.846.000 ext. A ref. M. 5% bonds to reim¬
burse the treasury for impts
made in 1916 and for new extensions (prin¬
cipally the construction of a new central generating station, costing ap¬
proximately $1,000,000, of which the first section was put into operation
about Mar. 1 1918).
V. 104, p. 951; V. 105, p. 606.
Wages.—V. 110, p. 1289.
In July 1918 issued $3,000,000 2-year 7% notes, part of the proceeds
being used to pay off $677,000 1-yr. notes due Aug. 1 1918 and the re¬
mainder for impts., Ac.
V. 107, p. 1287.
Interest.
Outstanding.
Maturity.
STOCK AND PONDS—
Date.
$9,041,230 Nov* 17, IX
Common, $6,080,000
—13.000 Apr *18,1%
4%"~"~
Prior pref stock $3.145,000
1,634,918 Apr *18. IH
"A" pref, $1,720,000
....
4,188,125 Feb *18 .IX
"B" pref, $4.200.000
5 g A-0
4 500.000 Oct 1 1940
1st ref & ext sink fd M $25,-( 1915
the
co.
went back to the
000,000
g
cHfjlnt.
($1,000)
at E. W. Clark & Co., Phila., or office
I
co.
[
Columbus.
Girard
Trust
of
Co.,
Phila.,
at
Trustee.
General Mortgage
6%
2,700,000
Cent Mar 1st intge, $500.000,1
1902
5 g J-J
325.000 Jan 1 1922
gold ($1,000).—.-.cHutf/Interest at N. Y. Trust Co., N. Y., Trustee.
Col St Ry
1st. $3,000,000, f-1892
5 g J-J
3,000.000 July 1 1932
gold ($1,000)
cHntf (Int.atco.'s office&E.W. Clark & Co , Phila.
(Columbia-Knick. Trust Co., N. Y., Trustee.
Crosstown
1st mtge.
gold,I 1893
5 g J-I)
572)000 June 1 1933
($1,000) $572,000 —c*_ntf/Columbia-Knick. Trust Co., N. Y., Trustee.
Col Ry 1st consol mtge, $7,1899
4 Q-J
3.132.000 Oct 1 1939
000,000 ($1,000), g. c».ntf( Interest at Union Savings Bank & Trust Co.
Bonds are redeemable since |
of Cincinnati, Trustee, at E. W. Clark &
Oct 1 1914 at 105 and int. I
Co.. Philadelphia, or at company's office.
2-yr secured notes gold $3,000 ,000
1918
'
7%
2,125.000 July 1 1920
Stock.—The prior pref. 4% stock Is issuable only in exchange for the
$3,145,000 Columbus Ry. Co. 4% bonds and is exchangeable any time
prior to Oct. 1 1924 into 1st ref. and ext. sink. fd. 6% bonds on the basis
of $850 of bonds for $1,000 of stock.
As of Sept, 1 1919 $13,000 stock had
been issued in exchange for Columbus Ry. bonds.
Bonds.—Of the First Refunding and Extension sinking fund bonds,
$6,659,000 are reserved for underlying liens, $1,175,000 are pledged as
security for the 2-year notes, and the balance is reserved for improve¬
ments, extensions, Ac., at 85% of cash cost or fair valuation, which¬
ever is less, under certain restrictions.
Callable at 105 and interest on
any interest date on 60 days' notice.
Penn. State tax refunded on 60 day's
notice.
Sinking fund of 1% per annum of bonds outstanding begins
Oct. 1 1920.
The $2,700,000 gen. Mtge. 6s are pledged as collateral under
the 2-year notes due July 1 1920. Central Market bonds are redeemable at
any time at 110 & int. on 60 days' notice. Sinking fund of 5% of gross earn¬
ings began in 1907. $194,000 held in sinking fund. The Crosstown St. Ry.
mtge. was for $2,000,000 but was closed at $572,000.
Int. payable at
Columbus and E. W. Clark & Co., Phila.
Columbus Ry. Co. mtge. has
been closed.
$3,428,000 bonds were issued thereunder, of which $283,000
were canceled.
$13,000 had been exchanged for 4% prior pref. stock to
.
-
$148,000 notes are in the treasury.
Any additional ref. A ext. bonds cer¬
tified must be substituted under this pledge for gen. mtge. bonds.
Dividends.—An initial div. of 1X % was paid on the Series "A" pref. stock
April 1 1914; same rate quar.
"B" initial div. of 1 X % paid
to and Incl. Apr. 1918; none since. On Series
in May 1914 and same rate quar. since to and
None since.
On prior pref. Initial div. of 1 % was paid in
Oct. 1915; same rate quar. to and incl. Apr. 1918; none since.
On common,
initial div. of 1X % was paid in May 1914 and same rate quar. to and incl.
Nov. 1917. Feb. 1918 div. passed (V. 106, p. 498).
None since.
incl. Feb. 1918.
REPORT.—For years ending Dec. 31
1919.
Revenue passengers
Transfer passengers
—
Total passengers
Kilowatt hours sold
-
Number of customers
Railway oper. revenues.
2,481,528
Power, light, heat,
2.516.443
gross
&c—_
revenues." $4,997,971
$1,702,649
Net, after taxes
Interest, &c,
Prior pref.
Pref. divs.
stock (4%)
—
Series "A"__
Pref. divs. Series
Common
dividends
(1918 report in V. 108, p. 573).
1916.
1917.
1918.
54,455,621
11,131,350
67,498,715
15,737,432
66,650,414
15,924,643
65.586,971
69.825,731
29,975
$2,119,163
i
2,145,322
83,236,147
56,391,893
27,942
$2,287,097
1,737,089
82,575,057
40,772,239
$4,264,486
$1,151,417
$695,457
$4,024,186
$1,080,257
$558,589
$3,537,400
$1,432,275
$516,373
25,081
$2,248,918
1,288,482
None
520
520
520
None
None
98,094
209,155
98,691
209,155
None
None
76,218
209,170
(5)300,765
(3X)226,542
$8,000,000
Common. $8,000,000 ($100)
Preferred, $6,000,000 5% nonl
cum ($100)
J ——
1st & ref. mtge. $15,000.0001 1910
gold ($1.000)
cHfjlnt. at
Stock.—Preferred Is red. at 105 on 30 days' notice.
Bonds.—$3,250,000 1st & ref. bonds are reserved to retire prior liens
($1,250,000 bonds of Lima El. Ry. A Lt. Co. and $2,000,000 bonds of
Ft. Wayne Van Wert & Lima Trac. Co.)
and $7,550,000 for additions,
betterments, Ac.
Entire issue is subject to call on any Interest day
at
105 and Interest on
56 days' notice.
No sinking fund.
The
2nd & gen. mtge. issue is subj. to call on any int. date for payment In cash
or for substitution of 1st & ref. mtge. bonds of 1910 exchangeable at par
on 8 weeks' notice.
Bonds to be delivered for purposes of impts., as ap¬
proved by Public 8ervioe Commission of Ohio or other governmental
authority.
No sinking fund,
Mtge. covers all properties and leasehold
estate, subj. to underlying lien.
$430,000 are held in treasury.
Series "A"
equip, notes mature $8,000 semi-ann. commencing Jan. 1 1911.
Series
"B" equip, notes are 1st Mtge. on 26 cars.
They mature semi-ann.
($7,000 Jan. 1 and $6,000 July 1) from Jan. 1 1912 to July 1 1921, incl.
Series "C" equip, notes are 1st mtge. on 43 cars and mature $6,000 semiann.
beginning Dec. 1 1912.
Series "D" equip, notes mature $5,000
semi-annually beginning Sept. 1 1914.
Series "E equip. notes are divided
into Series "E 1" and Series "E 2," amounting to $100,000 and $30,000,
respectively, the former having priority.
They mature $5,000 s.-a. until
payable s.-a. to maturity.
All issues of equip,
notes are guar., p. & i., by end. of Ohio El. Ry.
&
EARNINGS—For years ending Dec. 31:
Cat. Year—
Gross.
Net.
Oth.Inc. Int.&Tax. Rentals.
Bal.,Def.
1919
$4,098,088 $1,370,437 $12,667 $745,824 $842,740 $205,461
1918
4,098,088
1,197,415
14,577
714,092
837,532
339,632
EQUIPMENT.—187 passenger cars, 13 trailers, 91 freight and express,
55 work cars, 8 snow plows, 7 miscellaneous cars.
OFFICERS.—Pres., W. Kesley Schoepf; V.-P., W. A. Draper; Sec. &
Treas., F. A. Healy; Gen. Mgr., H. G. Gilpin.
General offices, Interurban
Bldg., Springfield, O.—V. 106, p. 929 , 2649 , 2758; V. 107, p. 83, 402,
604, 1385, 1580; V. 108, p. 1165; V. 109, p. 776, 982; V. 110, p. 1643.
Jan. 1 1928, when $15,000 is
(1) Columbus Interurban Terminal Co.
Entire stock owned by Ohio Elec. Ry., which guar, bonds.
ORGANIZATION.—Incorp. in Ohio on May 24 1910.
OHIO ELECTRIC RAILWAY CO.
ORGANIZATION.—Incorp. May 16 1907 In Ohio.
On Aug. 31 1907
purchased the Lima A Toledo Traction Co.. which owned the line from Lima
to Toledo, and on Dec. 31 1909 uurchased the Lima Elec. Ry. A Lt. Co.,
which operates in the city of Lima.
On Aug. 31 1907 leased the Ft. Wayne
Van Wert & Lima Trac., with a line from Lima, O., to Ft. Wayne, Ind.
acquired by lease the Indiana Col. & East. Trac., which company
assigned to it the leases of Col. Newark & Zanesville Elec. Ry. and Dayton
& Western Trac.
On Feb. 1 1908 purchased the Cine. Northern Trac.
Also
(subsequently dissolved) and acquired from that company its lease of
Tol. Trac. (sold under foreclosure June 30 1917), now under
Trac. Co. (which see).
Including city lines in Zanesville, Newark, Lima and other points, operat¬
ing mileage is 533.04 miles extending from Zanesville on the east via Newark
to Columbus (including line from Columbus to Orient and Buckeye Lake
and Newark to Granville branches), thence through Springfield to Dayton,
where connection is made with the Cincinnati & Dayton Trac. Co., and
from Dayton to Union City, where connection is made with Union Traction
Co. of Indiana for Muncie, Anderson and Indianapolis, Ind., and from
Dayton to Richmond, Ind., where connection is made with T. H. I. & E.
Traction to Indianapolis, extending north from Springfield through Urbana
and Bellefontaine to Lima, and from Lima to Defiance; to Toledo, O.j and
Ft. Wayne, Ind.
Electric light and power business is conducted in cities of
Zanesville, Lima and West Alexandria and steam heating plant in Lima.
In May 1913 was granted authority to issue $3,500,000 2U mtge. bonds,
Cine. Day &
control of and operated by Cincinnati & Dayton
{irovided $5,000,000 P. 1365. 1840: V. 97. was 299.
of outstanding stock p. retired; This was accordngly done.
V. 96
New Lease.—See Ft. Wayne Van Wert & Lima Trac.
Co. on subsequent
D3/K6#
In
July 1917 the Ohio P. U. Comm. authorized the issue of
$100,000
equipment notes, the proceeds to be used to pay in part for 4 motor ex¬
10 flat cars and 16 box cars.
Fare Increase.—In July 1918 was auth. bv the Ohio P. S. Comm. to
increase passenger fares effective Aug. 1 1918. V. 107, p. 402.
In Oct. 1918
the I.-S. C. Comm. auth. an increase to 2X cents per mile between points
on the co.'s lines.
V. 107, p. 1385.
Effective Aug. 15 1918 was auth. to
raise freight rates 25%.
Compare V. 106, p. 2649.
press cars,
Owns
operates since Jan. 11912 passenger and freight terminal stations
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Stock $10,000 ($100)
and
in Columb,
Maturity.
$1,000
—
mtge $1,000,000 gold! 1910
5 g J-D
433.000 June 1 1935
($500) guar p & i
cHf/Int. at Clt. Tr. Sc Sav. Bk., Columbus. Trust.
Bonds.—Remaining bonds reserved for acquisition of additional real
First
*
estate, additions, Impts.,
& Treas., F.
Not subject to call.
Ac.
Sundmaker; Secretary
A. Healy.—V. 92. p. 1564; V. 93, p. 1532, 1599.
The Indiana Columbus & Eastern Traction Co.—A trolley road,
1907. Latter company guaran¬
bonds and 5% divs. on pref. stock' (in Sept. 1919 we were
informed that these divs. had been deferred—up to the time of going to
(2)
Leased to the Ohio Electrle Rv. Aug. 31
tees interest on
these had not been paid.) and owns entire common stock.
ORGANIZATION.—Incorporated in Ohio on April 14 1906 and has ac¬
press
quired the Dayton Springfield & Urbana Elec. Ry.,
the Columbus London
Ry., the Columbus Grove City & Southwestern Ry., the
Northern Ry., the Springfield A Western Ry., the
Dayton A Northern Traction Co.
and about 12 miles of the Dayton A
Muncie Traction Co., extending from Greenville to Union City on the
Indiana-Ohio State line.
Has also acquired the Columbus A Lake Michigan
RR., a steam road operating between Lima and Defiance, which has been
converted into electricity.
Leases the Dayton A Western Traction Co. and the Columbus Newark A
Zanesville Elec. Ry., which latter company had previously absorbed the
Columbus Buckeye Lake A Newark Traction Co. and the Zanesville Ry. Lt.
A Power Co. These leases were assigned to the Ohio Elec. Ry. Aug. 31 1907.
The new general and refunding mortgage bonds were listed on the Phila¬
delphia Stock Exchange In February 1907.
V. 84, p. 339.
See description
of bonds, property. Ac., in V. 83, p. 37.
Favorable Tax Decision.—See remarks under Cincinnati Street Ry.
Interest in Default.-r-Interest due Nov. 1 1919 on the co's. gen. A ref.
mtge. 5s is in default,
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Common, $3,025,000 ($100)
$3,025,000
Preferred, $1,000,000 ($100).
5%
1,000,000
See text.
1906
5 g M-N
6,650.000 May 1 1926
Gen and ref mtge (see text)
gold ($1,000)
cHf Int. at Pa.Co.for Ins.onL.AG.A.,Phlla.,Trus.
1900
5 g A-0
500.000 Oct 11920
ol Lon A Spg 1st mtge, $1,600.000, goid($l,000)c*ntf Int. at N. Y. Trust Co., New York, Trustee.
1898
5 g M-N
750.000 Nov 1 1928
Day Spg A Urb 1st mtge.
$750,000. gold ($1.000)ntf Interest at N.Y. Trust Co.. N. Y.. Trustee.
Bonds.—The gen. and ref. mtge. was originally for $12,000,000 but auth.
&
Springfield
Urbana Bellefontaine &
_
$329,229
$148,191 def.$13,240
renew.,depr.,&c.
ROAD, AO.—149.34 miles single track. Including 14.21 miles operated
5 steam
under contract.
349 passenger, 2 freight and 53 other cars,
power stations with 40,560 k. w, capacity.
OFFICERS.—Pres., Chas. S. Kurtz; V.-P., Samuel Ungerleider; V.-P.
& Treas., Norman McD. Crawford; Sec. A AucL, P. V. Burington; Asst.
Sec. & Asst. Aud., Herbert M. Burington; General Supt., C. C. Slater—
V. 108, p. 573, 878, 1511, 1610, 1721, 1822; V. 109, p. 270, 774, 887, 981,
1079; V. 110, p. 561, 658, 1186, 1289, 1526.
Bal. for
-
.
3,000,000
See text.
5 g J-J
4,200.000 Jan 1 1930
Fidelity Trust Co., Phila., Trustee.
2nd & gen mtge $5,000,000.1 1913
5 g J-D
2,927,200 June 1 1943
g ($100) ($500) ($1,000)-tfj Int. at Fidelity Trust Co., Phila., Trustee.
Equip notes Series "A" $160,-1 1910
5 g J-J
8,000
See text.
000 gold ($1.000)
cHf jlnt. at Fidelity Trust Co., Phila.. Trustee.
Equip notes Series "B"$130,-( 1911
5 g J-J
19,000
See text.
00U gold ($1.000)
cHfjlnt. at Fidelity Trust Co., Phila., Trustee.
Equip notes Series "C"$120,-\ 1912
5 g J-D
30,000
See text.
000 gold ($1,000)
cHfjlnt. at Fidelity Trust Co., Phila.. Trustee.
Equip notes Series "D" $100,-J 1914
5 g M-S
40,000
See text.
000 gold ($1,000)
tf (int. at Fidelity Trust Co., Phila.. Trustee.
Equip notes "E" $130,000/ 1917
6 g J-J
105,000
See text.
($1,000)
g
cHfllnt. at Fidelity Trust Co., Phila., Trustee.
OFFICERS.—Pres., Dana Stevens; V.-P., J. H.
Notes.—The $2,500,000 notes are secured by a pledge of $1,175,000 1st
ref. & ext. sk. fd. mtge. 5% bonds and $2,700,000 gen. mtge. 6% bonds.
Total
Default.—No int. has been paid on the 1st A ref. 5s since July
No int. has been paid on the 2d. A gen mtge. 5s since Dec. 1 1918.
Operating Managers— In April 1920, reports state, Day A Zimmerman,
Phila,, took over the management of the road in the interest of Drexel &
Co., Phila., and the bondholders' protective committee.
Rather than
foreclose therntges. on which int. is in default (see above), the bankers en¬
tered the active management of the company, through Day & Zimmerman,
in complete understanding with Pres. W. Kesley Schoepf, and the interests
which he represents.
V. 110, p. 1643.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Interest in
1 1915.
Are callable at 105 and int. on any Interest date.
Sept. 1 1919.
(Vol. 110.
RAILWAYS
ELECTRIC
34
_
.
$10,000,000.
Of the remaining bonds $250with trustee and are available for ex tens. A
int. charges on bonds out
the underlying liens given
in table above.
The remaining $2,100,000 are reserved for future better¬
ments, Improvements and extensions, aDd can only be issued as follows:
$1,100,000 when net income is equal to 1H times int. charges on all bonds,
including those to be Issued, and $1,000.000 when net is equal to twice int.
charges, Incl. int. on bonds to be Issued.
These bonds are subject to call In
whole, but not In part, at 105 and Int.
The Columbus London A Spring¬
field bonds may be called at 110 and Int.
A sinking fund on these bondcrf 5% of gross earnings began with year ending Sept 30 1906.
See V 71.
p. 963. $234,000 in sink, fund Dec. 31 1919.
The Day. Springfield A Ur¬
bana bonds are subj. to call at 110 and Int.
A sink, fund of 5% of gross
earnings began In 1903.
$206,000 in sinking fund Dec. 31 1919
amount has been reduced to
000 are treas. bonds deposited
impts. when net earns, are equal to 1X times
and to be issued; $1,250,000
are held to retire
ROAD.—Columbus to Orient, Columbus through
Springfield to Day¬
Dayton to Union City and Richmond, Ind., Springfield to Lima,
through Lima to Defiance, O.
Total miles of track (electric) owned, 277.15;
leased, 139.87; total. 417.02.
Standard gauge.
5 power houses. 231 cars,
ton,
Draper; V.-P., J. H. Sundmaker;ISec.
Healy—V. 85, p. 600; V. 86, p. 721; V, 87, p. 37.
& Western Traction.—Trolley road.
OFFICERS.—Pres., Walter A.
and Treas., F. A.
(a)
Dayton
ORGANIZATION.—Incorporated on June 26 1898.
Was leased on June
15 1906 to Ind. Colum. A East. (V. 82. p. 1437),
For terms, see below.
Favorable Tax Decision.—See remarks under Cincinnati Street Ry.
Div. Period.
STOCK—
Common, $900,000 ($100)
;
Q-J
Outstand'g.
$672,500
Last Dividend.
See text,
Pref, $850,000 ($100) 5% cum
Q-M
850,000
See text.
Dividends.—Lease taking effect June 15 1906 provided for 5% per annum
pref. stock and 5% on com. stock in 1906 and 1907. 5X% in 1908 and
6% thereafter, but under modified lease dated Feb. 7 1916 the payment on
the com. stock was reduced to 3%.
Earnings In excess of the required
on
rental payments and $10,000 per annum for additions and betterments are
to be paid to the common stockholders up to an additional 3% per ann. for
1st 5 years.
Beginning with the 6th year (1921), the operating company
is entitled to receive, if earned, before paying the additional 3% on the
com.
stock, $10,000 per annum as compensation for operations.
of the agreement,
com.
stk.
As part
the Ohio Electric Ry. surrendered $75,000 Dayt. A W.
ArE., 1920.)
ELECTRIC
Income Account.—For year ended Dec. 31
1919,
gross
earnings $36,230
net
after taxes $1^,273; other inc. $38; interest on bonds $21,650; other
deductions $158; deficit for year $9,495.
KOAD.—Dayton, O., to Richmond, lnd., with branch from New Westto New Paris, 39.54 miles.
At Richmond connection is made with
Terre Haute lnd. & East. Trac., making possible the operation of through
ville
from Indianapolis, via Dayton, to Columbus, a distance
OFFICERS.—Pres. and Treas., Valentine Winters; V.-P.,
houser; Sec., Russell H. Pompert, all of Dayton.
V. 82, p.
p. 36, 94, 379.
(b) Columbus Newark & Zanesvllle Electric Ry. Co.—A
cars
of 194 miles.
F. A. Furik-
1437; V. 83,
troley road.
ORGANIZATION.—Incorporated in Ohio on July 2 1902, and in April
1904 absorbed the Newark & Granville Street Ry. In June 1906 acquired
the Columbus Buckeye Lake & Newark Traction Co., the preferred share¬
holders being given $500,000 in pref. stock for their holdings.
Also took
the Zanesv. Ry. Light & Power Co. and was then leased on June 23
1906 to the Indiana Colum. & East. Trac. Co. for length of franchise and
over
renewals thereof.
Rental is Interest on bonds, an amount
the preferred stock and $500 for organization expenses.
equal to 6% od
V. 83, p. 625.
Private right of way from Newark to Zanesville; franchises on other lines
expire 1925 to 1928.
Entire common stock is owned by Ohio Elec. Ry. Co,
Favorable Tax Decision —See remarks under Cincinnati Street Ry.
Interest Payments.—The int. due Nov. 1 1919 on the co's. gen. & ref.
mtge. was not paid until Feb.
p.
1986; V. 110,
n.
1920.
V. 110,
p.
561.
Compare V. 109,
167.
Committee for Gen. & Ref. Mtge. 5's.—Chairman, R. M. Stinson; Alba
B. Johnson and Claude A. Simpler. Depositary: The Land Title & Trust
Co.,
Phila., Pa.
Deposits have been called
110, p. 167.
STOCK AND BONDS—
for.
V.
109,
p.
1986;
V.
Interest.
——
,
—
$300,-1
1899
7 g F-A
250,000 Feb
1
1924
000.
gold, subject to call! Interest at International Trust Co., Boston,
after 1903. $1.000 eachcntf I
Trustee.
Bonds.—Of the $6,250,000 gen. & ref. bonds, $3,493,000 are reserved to
retire prior liens and
$1,546,000 for betterments and extensions.
They
are
subject to call after 5 years at 105 and int.
Under terms of this mtge.-. none
of the $750,000 1st mtge. bonds unissued can now be issued.
The entire
Issue of Col. New. & Zanesv. 1st 5s can be called at 110 and int. on any int.
date.
V. 80, p. 1234.
The Col. Buck. L. & New. bonds are subject to
call on any int. date at 110 and int. on 3 months' notice.
Zanesville Ry..
Lt. A Power bonds fell due Oct. 1 1912 but were extended to Mar. 1 1924
$250,000 reserved to retire underlying bonds.
The Zanesv. Elec. 1st 7s
were originally 4s and fell due Feb. 1
1919, but were extended to Feb. 1
1924 at 7%.
V. 108. p. 1165.
Income Account:—For year ended Dec. 31 1919:
Income from lease,
$263,669; bond int., $239,568; other deductions, $2,579; divs., $22,500;
deficit for year, $977.
ROAD.-—Operates 95.85 miles of track from Columbus to Zanesville.
including the city lines in Zanesville. Newark and Granville and a branch
to Buckeye Lake.
Operates lighting and power plants in Zanesville.
Standard gauge; 60 and 70-lb. T rail and 90-lb. girder.
Also owns amuse¬
ment park on Buckeye Lake.
Owns and operates its Hebron power plant
with
its
own
natural
STOCK AND BONDS—
Date.
Interest.
\ Outstanding.
Maturity
Stock. $5,000 ($100)
i
$5,000
2dc'n.(now lst)mtg.$850,000,J 1902
5 g A-O
350,000 Apr 1 1925
gold ($1,000)
c*tf (Int. at Fidelity Trust Co., Buffalo, Trustee.
Lima Elec Ry & Light, ref/ 1905
5 g M-S
900,000 Sept 1 1925
mortgage. $1,250,000, g.tfllnt. at Glrard Tr. Co., Phila.. Pa., Trustee
Bonds.—The bonds of 1902 are a lien on the electric-light and heating
plant, as well as on the railway.
Cannot be called before maturity.
$350,000 refunding bonds are reserved to retire prior liens.
ROAD.—Owns 10.91 miles of track, also a steam-heating plant (franchise
perpetual, operated in connection with the electric-lighting plant).
Con¬
tract ordinance for city lighting expires April 1919.
OFFICERS.—Pres., Dana Stevens; V.-Ps.. J. H. Sundmaker; Sec. &
Treas., F. A. Healy. Springfield. Ohio.—V. 81. p. 155, 1100.
It! Fort Wayne Van Wert & Lima Traction Co.—A trolley road.
ORGANIZATION.—On Mar. 1 1906 was leased, until expiration of fran¬
chises and renewals thereof, to Lima & Toledo Traction Co., which guaran¬
teed the Interest.
V. 82, p. 691.
Lease was assigned to Ohio Electric Ry.
Aug. 31 1907.
The latter company owns all the common stock.
Incorpor¬
ated In Indiana and Ohio.
Road is entirely on private right-of-way excepin towns, where It has 25 or 50-year franchises.
Favorable Tax Decision.—See remarks
under Cincinnati Street Ry.
—
—
New Lease.—On Dec. 11
1916
a new
lease
was
entered into between the
and the Ohio Electric Ry. Co., canceling the previous lease.
This
lease provides rental payments as follows: (1) int. on mortgage indebtedness;
(2) $500 per annum payable semi-ann. for organization expenses; (3) $12,500
per year to be set aside for additions and betterments, provided same is
earned.
Such earnings shall be arrived at on the following basis: Gross
revenue less operating expenses, bond int., $500 per annum for maintenance
of organization.
The balance to be considered net earnings.
As stated
above, $12,500 per annum is to be set aside for additions and betterments.
In case the net earnings shall exceed this amount, which is accumulative,
such excess amount up to an additional $12,500 shall be
paid as dividends to
the pref. stockholders of the company.
Should there still be an excess after
the payment of this additional dividend, such excess shall be divided equally
between the Ohio Electric Ry. Co. and the pref. stockholders.
The prin¬
cipal consideration of this lease was the return to the company for cancella¬
tion of $500,000 par value of its pref. and $500,000 of its common stock,
which arrangement has been carried out.
Interest in Default.—The co. having failed to pay the int. due Jan. 1
1920 on its 1st Mtge. 5s the following committee was formed and has called
for deposits:
Committee for 1st M. 5s.—Chairman, J. C. Neff; George K. Johnson,
George deB. Greene, Thomas J. Walsh, A. C. Robinson, T. H. Atherton,
Secretary, 325 Chestnut St., Phila.
Depositaries: Fidelity Trust Co.,
Phila., and Peoples Savs. & Trust Co., Pittsburgh, Pa.
Income Account.—For year ended Dec. 31 1919.
Income from lease,
$74,000; bond int., $73,500; other deductions, $917; deficit for year, $417.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Common, $500,000 ($100)
$500,000
Pref.$500,000,5% n-c
($100)-.-500,000
First mtge, $2,000,000,
gold/ 1905
5 g J-J
1,470,000 July 1 1930
guaranteed ($1.000)
c#\Int. at Fidelity Trust Co., Phila., Trustee
Bonds.—Of the $2,000,000 bonds, $530,000 are reserved for extensions
and Improvements
V. 82. p. 691.
Are not subject to call
—.
ROAD.—61.63 miles of electric track from Ft. Wayne via New Haven,
Monroevilie, Van Wert, Middlepoint, Delphos and Elida to Lima.
Com¬
menced complete operation Nov. 15 1905.
Connects at Ft. Wayne with
Che Ft. Wayne & Nor. lnd. Trac. and at Lima with the Ohio Elec. Ry.
and forms part of through line from Ft. Wayne to Toledo. Dayton and
Columbus
Standard gauge, 70-lb. T rails
OFFICERS.—Pres.. Walter A. Draper: V.-P., Joseph Nicholson; Sec.
and Treas., F. A. Healy.—V. 82, p. 691, 804; V. 83, p. 37; V. 110, p. 1642.
& DAYTON TRACTION CO.
CINCINNATI
Organization.—Incorp. April 26 1918 with $1,250,000 auth. capital stock,
as
successor
to
the
Cincinnati
Dayton
&
Toledo
Traction
Co.,
V.
.
STOCK AND BONDS—
Date.
Stock, $1,250.000.
1st & Ref. Cons. Mtge___
Underlying Issues
Southern Ohio Trac 1st
Interest.
-----
-
1918-
5%
Outstanding.
$1,250,000
(?)
Maturity.
.
1938
1900
5 g M-N
1,350,000 May 11920
Int. at Cleveland Trust Co., Trustee, or at
cons
$2,000,000 ($1,000), goldc*
Standard Trust Co., New York.
1898
6 g J-J
400.000 July 1 1918
$500,000, not subj to call--lint, at Cit. Sav. & Tr. Co., Gieve., Trustee.
Dayton Traction 1st M, g| 1896
5 g J-J
250,000 May 1 1920
($1,000), lnt guar-_-__-c»lInt. at Finance Co of Penn., Phila., Trustee.
Harn & Linden wald El Tranl
1901
5 g J-D
250,000 July 1 1922
1st M s f $250,000, g (Sl.-VInterest at Cleveland Trust Co., Trustee
000), lot guar—.
c*j
;
Miara & Germ 1st guar ($50,-1 1901
5 g J-D
50,000 July 1 1922
000), gold ($1.000)
c*/Interest at Cincinnati Trust Co., Trustee
Bonds.—None of the underlying Issues Is subject to call
Of tne $2,000,000 South. Ohio Traction bonds, $650,000 are reserved to
retire Gin. & Ham. Electric bonds and Dayton Traction bonds.
Issue
listed on Philadelphia Stock Exchange.
The Dayton Traction fis matured
originally on July 1 1916, but were extended to May 1 1920.
TheCln. &
Ham. Elec. 1st 6s due July 1 1918 had not been paid up to Sept. 1919
(see above).
The Ham. & Lind. Elec. Tran. and Miamisb. & Germ, bonds originally
fell due Dec. 1 1911, but arrangements were made at that time to extend
them to July 1 1922.
V. 93, p. 1386, 1387.
Annual sinking fund of 5% on
Ham. & Lind. bonds began Dec. 1 1906, Increasing 1 % each year up to 1911
$57,000 in sinking fund May 1 1918.
ROAD.—Owns 91,07 miles of electric track, connecting Cincinnati with
Dayton, incl. Germantown, Mt. Healthy and College Ilill branches and the
Hamilton city lines. Carries freight and express.
OFFICERS.—Pres.. J. M. Hutton;. V.-P., O. Armleder; Sec., Claude
Ashbrook: Treas., Lea J. Van Lahr.
Under management of the Warren
Bicknell Co., Cleve., O.—V. 107, p. 291; V. 109, p. 1179, 1986.
Olu & Ham Elec 1st g ($500)
(THE) COLUMBUS DELAWARE & MARION ELECTRIC CO.
ORGANIZATION.—Incorp. In Ohio June L4 1917 to take over the
properties of the Columbus Delaware & Marion Rysold under foreclosure
on June 11
1917. subject to underlying mortgages aggregating $1,533,000
(which, however, were not assumed by the G. D. & M. Elec. Co., the rights
of such bondholders being neither enlarged nor diminished).
Owns and
operates the central station electric light and power business in Marion, the
street railways in Marion and Delaware, and the interurban railroad between
Delaware and
Columbus
Marlon.
Also
furnishes electricity
the
to
vil¬
lages of Prospect, Radnor, Greencamp and Caledonia.
Over 76% of the
private right of way.
Has entrance to centre of
Columbus over tracks of the Col. Ry., P. & L. Co., 4.09 miles.
Franchises contain no burdensome restrictions.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity
Common$1,000,000 ($100)
$700,000 —
Pref 7% cum $1.000.000 fS100)
Q-J
725.000
First & Refunding Mtge $7,-1 1917
5%
1.342,000
June 1937
500,000 ($1,000)
-c/Cleveland Trust Co., Trustee.
C D & M ElecRR. 1st mtgej 1901
5 g M-N
289,000 May 1 1921
$1,000,000gold ($1,000)_c*[Int. at Cleveland Trust Co., Cleve., TrusI
tee, or Bankers Trust Co. in New York.
Col Nor Ry Pow & Equip. 1st) 1904
5 g M-S
213,000 Sept 1 1934
M (closed) gold ($1,000)_.c/Int. at Guaranty Trust Co., N. Y., trustee.
Marion Ry, L & P 1st mtge/ 1904
5 g J-J
7 30,000 July 1 1924
$300,000 gold ($l,000)-_c*lHaL at Guaranty Trust Co., N. Y., trustee.
Pref. stock is non-taxable in Oulo, N. Y., N. H. and Conn.
Red. all or
part, at $115 and divs.
Additional pref. stock cannot be issued without
the consent of the majority of che prer. stock, unless the net earnings avail¬
able for divs. thereon are double the requirements on the pref. stock issued
and proposed.
No stock having priority can be auth. except with consent
of 75% of pref. sfcocko
Bonds.—$540,000 of the First & Ref. M. bonds are reserved to retire
underlying bonds.
Additional bonds may be issued for 80% of the actual
cost of additional properties and permanent extensions, additions, improve¬
ments or betterments, but only under certain conditions.
Sinking fund of
1% of outstanding bonds annually begins Jan. 1 1920.
Red. at 102 and
int. on any int. date upon 30 days notice.
Int. is also payable at Bankers
Trust Co., N. Y. City.
Sinking fund retires $5,000 Col. Nor. Ry., Pow. &
Equip. 1st 5s annually on Jan. 1.
—Ann. require, for— Bal.forDep.
EARNINGS. Operating
xOperating
Year ending—
Bd.,&c. Jnt. Pref. Div. Com.Sth.,&c
Revenue.
Income.
1919
$98,492
$47,712
$40,501
-$848,972
$186,705
98,699
45,500
7,406
1918
663,190
151,605
*
I 'ref. stock outstanding only since July 2 1917, but shown
are tor
interurban
track
is
on
—
.-
—
--
•
—
-
—
-
comparison,
x
After depreciation.
KOAD, &c.—53 miles of single track equivalent; 26 city and 8 interurban
passenger
cars,
4
combination
Interurban
passenger
and
baggage cars.
i freight and express cars, 11 freight box car trailers, 18 flat, dump and work
and 2 motor snow plows. Has a complete electric distribution system
In Marlon and a steam power station at Stratfor
capacity 2,800 k.w.,
cars,
one at Marion, capacity 1,750 k.w.
OFFICERS—Pres., Eli M. West: Sec., Treas
!Aud., W. H. David¬
V.-P. & Gen. Mgr., A. F. Van Delnse.—V. 10*, p. 2641; V. 105, p. 72,
180, 1898; V. 106. p. 715.
and
—
son;
COLUMBUS NEW ALBANY & JOHNSTOWN TRACTION CO.—A
trolley road.
■
ORGANIZATION—Incorporated In Ohio on May 4 1899.
In May
1905 canceled old mtge. for $200,000 and made the new mortgage in table
below.
V.80. n 2399.
Franchises are for 25 years
On Feb. 15 1919 a decrease of capital stock from $600,000
575,0 I(
.
,
„
effected, the pref. stock being reduced from $200,000 auth
eel a l ti
outstanding to $175,000.
Compare V. 108, p. 784.
STOCK AND BONDS—
Date.
Interest,
Outstanding.
Matun
Common. $400,000 ($100)... ,
5400.000
175,000
Preferred, 6% cum. $175,000
($100)--.
None. Jan
1 1925
1905
5 g J-J
First
mtge.
$450,000. gold
Bank & Tr Co., Cine., Trustee.
($500 and $1.000) ——nH Prov Sav
was
j
-
—------
1919, gross. $105,664; net profits,
taxes and misc., $5,118; net gain from operation. $15,392.
ROAD.—Operates 8.8 miles of track from Columbus to Gabaaaa, delud¬
ing perpetual lease of 2.7 miles of tracks of the Columbus Rv. as terminal;
gauge/5 ft. 2 in.; 65-lb. T rail.—V. 92, p. 1032, 1498; ,V. 108, p. 784.
REPORT.—For year ending Juue 30
$20,510;
whose
properties were sold at foreclosure on June 30 1917 to the committee for the
$2,700,000 C. D. & T. 1st cons. 5s for $400,000. subject to $2,300,000
underlying mortgages.
Holders of about $250,000 undeposited bonds will
receive about $148 for each $1,000 bond in settlement.
Has been auth. to issue $4,500,000 20-year 5% bonds to cover present
and future needs andprovide for retirement of underlying bonds.
V. 106.
p. 2122.
Compare V. 106, p. 1461.
Management.—On July 1 1918 the operation and management of the
was placed in the hands of the Warren Bicknell Co. of Cleveland, O.
106, p. 2756.
Committee for C. D. & T. 1st Cons. 5s.—Leo J. Van Lahr, James M.
Hutton, Claude Ashbrook, Edgar Friedlander and Otto Armleder.
De¬
positary Provident Sav. Bank & Trust Co., Cincinnati.
For statement by
committee, see V. 102, p. 436.
See also V. 102, p. 800.
Committee for Cine. & Ham. Elec. 1st 6s.—W. S. Hayden and E. V. Hale,
with Gardner Abbott, Sec., 1215 Williamson Bidg., Cleveland.
Deposi¬
tary, Citizens' Sav. & Tr. Co., Cleveland.
Committee arranged to ad¬
vance as a loan to depositing bondholders the amount of the unpaid coupons.
Committee for S. O. T. Co. 1st Cons. 5s.—Chairman. R. M. Stinson;
Livingston E. Jones, G. M. Cummings, and Edward E. Newman, Sec.
Depositaries: Cleveland Trust Co. and Girard Trust Co.
The May 1
1919 interest had not been paid to Nov. 1 1919, at which time the period
of grace provided for in the indenture expired and as a result of this default
and the co.'s failure to observe the lien of this mtge. on the present power
house property and the Hamilton City lines the committee
requested the
trustee to apply for a receiver and to file a bill of foreclosure.
For details
see V. 109, p. 1986.
Foreclosure Proceedings.—The Cine. & Ham. Elec. 1st mtge. 6s being in
default of prin. and int. from July 1 1918, the trustee has brought suit in
foreclosure jointly with the trustee of the overlapping mtge. securing the
Southern Ohio Trac. 1st cons. 5s upon which the May 1 1919 int. is in de- 1
fault.
In Sept. 1919 the suit was pending in the Butler County, Ohio,
Courts.
V. 109, p. 1179.
Sale.—Reports state that the Miamisburg & Germantown line was sold
on Sept. 29" 1919 to the bondholders committee
V. 109. p. 1366.
No
line
gas
OFFICERS.—Pres., W. A. Draper; V.-P., J. H. Sundmaker; Sec. and
Treas., F. A. Healy.
V. 109, p. 1986; V. 110, p. 167, 561.
(8) Lima Electric Railway & Light.—A trolley road
Acquired by purchase by Ohio Electric Ry. Dec. 31 1909.
ORGANIZATION.—The company Is a consolidation completed Aug. 1
1900 of the Lima Ry. (Incorporated Nov. 5 1896) and the Lima Electric
Light & Power Co.
Was leased July 1 1905 to the Lima & Toledo Traction,
which lease was assigned to Ohio Electric Ry. Aug. 31 1907.
company
35
further information.
Date.
Outstanding.
Maturity.
$1.525.000
ommon, $1,525,000 ($100).
Pf, 6% cum, $500,000 ($100)
500.000
See text.
6Q-J
1st
1,250,000 Mcb 1 1924
mtge, $2,000,000, gold! 1904
5 g M-S
4
($1,000)
c*tf/lnt. at Columbia Tr. Co., N. Y., trustee.
Gen & ref mtge; gold, $6,-1 1906
5 g M-N
1,211.000 May 1 1926
250,000 ($1,000)
-cHfjlnt. at Glrard Trust Co., Phila., Trustee.
O B L & N 1st mtge. $1,500,-1 1901
5 g M-N
1,243,000 Nov 1 1921
000,gold ($1.000)
c*tf/Int. at Columbia Tr. Co., N. Y., trustee.
Zanesville Ry. Lt & Pow 1st/ 1902
5 g M-S
750,000 Mar 1 1924
cons mortgage. $1,000,0004 Int. at Cent. Tr. & 8. D. Co., Cine., Trustee.
($500, $1,000). gold—c*tf t
or Trust Co. of America, New York
Zanesv Elec 1st mtge,
RAILWAYS
SCIOTO VALLEY TRACTION CO.—Third rail,
ORGANIZATION.—Incorporated In Ohio with a perpetual charter in
1904.
Built on private right
of 1st mtge. bonds.
In 1908
of way.
Franchises extend beyond maturity
canceled $2,000,000 mtge. of 1903 and made
mtge. for $4,000,000. which see below.
Stockholders voted Sept. 22
1908. authorizing $500,000 new 5% first preferred stock, which ranks
ahead of old preferred stock (V. 87, p. 481 and 615).
new
[Vol. 110.
ELECTRIC RAILWAYS
36
"
In Apr. 1916 the Ohio P. U. Comm. auth. the issuance of
$200,000 5% 1st prof, stock to acquire the entire stock of
the remaining
the Columbus
Depot Co., which was incorporated in 1912 in the interest of the company
to build a terminal in Columbus.
V. 102. p. 1626.
In Jan. 1917 the co. leased from the State of Ohio for 25 years at an annual
rental of $6,000 the bed of the old canal feeder from
Lockbourne to
Main St., about 11 miles, for a new entrance into Columbus.
Rate Increase.—On Aug. 20 1918 was auth. by the Ohio P. S. Comm.
to increase freight rates 25%.
Effective Jan. 1 1920 passenger fares were
raised from 2 cents to 3 cents per mile.
STOCK AND BONDS—
Common. $1,800,000
let
Date.
($100)
Maturitv
See text
Q-J
^(SlOO'l,200.OOO, 5% cum|
mortg," $4,500"000Void/ 1908
489.300 Apr.*20, IK
Q-J
pref, $500,000, 5% cura.
1st
Outstanding.
$1,800,000
Interest.
1,458,000 Apr. *20, IK
4 g A-O
180.000 April 1 1921
First mtge, $180,000 ($500).|County Sav. Bk. & Tr. Co., Scranton, Pa.,
gold
c*(
Trustee. Int. at co.'s office. No sink. fd.
f 1901
1905
5 g F-A
Interest at Empire
ROAD.—Operates 10.18 miles of track
OFFICERS.—Pres.,
CONCORD, N. H.
CONCORD STREET RAILWAY.—A trolley road extending from the
Concord to Penacook.
Comprised 12.71 miles of track.
In June 1901 control passed to the Boston & Maine RR., and in 1903 the
Now Hampshire Legislature authorized the Concord & Montreal
RR.,
which is leased to the Boston <& Maine, *o nurchaae the property and to
iasue stock and bonds to pay therefor.
covington,
CINCINNATI NEWPORT &
CO.—A trolley road.
$1,000,000 for
depreciation, plus recent construction, was appraised at $2,430,000.
In May 1918 was auth. by the N. Y. P. S. Comm. to execute a mtge.
to the Equitable Trust Co.. N. Y., as trustee, to secure $5,000,000 6%
10-vear 1st M. bonds and has issued thereunder $952,000 bonds which were
exchanged for $1,085,000 outstanding bonds of the old issue.
Subse¬
quently $48,000 additional were issued upon the acquisition of a like amount
of capital stock of the Southern New York Power Co.
Proceeds received by
the latter were used in the acquisition of bonds of the Deposit Electric Co.
Remaining bonds are to be issued from time to time for acquisitions and
extensions.
V. 106, p. 1578, 2230.
The pref. stock was brought out in Feb. 1918 at par with a bonus of
20% in common stock.
V. 106, p. 715, 822.
Rates.—In July 1918 applied to the I.-S. C. Comm. for auth. to increase
class and commodity rates 25%
In Jan. 1919 the N. Y. P. S. Comm. fixed
the maximum fare on the co. s lines outside of Oneonta at 4 cents per mile
for cash and ticket fares and 3K cents for mileage book rates.
V. 108, p.
Sept. 1899 with $250,000 stock (shares $50),
Erlanger, 7K miles (about 3 miles completed) has
corp.
Columbia Gas & Electric.
Franchise Decisions.—On Oct. 19
in
U.
the
8.
270.
cum
($100)
$500,000 ($100)
Mortgage
Outstanding.
Maturity.
$774,900
500,000 Dec'19. IK
950.000
7 Q-J
6%
$5.000,000/
to build an extension to
also been leased to the
1914 and Nov. 17 1916 Judge Cochran
District Court held that the
franchise granted by the City
1882 to the South Covington & Cincinnati Street Ry.
was in effect perpetual.
See V. 99, p. 1214.
On Jan. 5 1915 the U. S.
Supreme Court declared void, as an unlawful Interference with interState commerce, the section of the Covington street railway ordinance
relating to overcrowding.
See details in V. 100, p. 139.
In Nov. 1916
the voters of Newport rejected the 20-year franchise granted by the city
in July 1916.
On Sept. 28 1917 Mayor Puchta approved a franchise granted
by the City Council of Cincinnati which in the case of so-called "temporary"
Covington and Newport routes, the former remained in force until Jan. 1
1919 and the latter continues until 24 raos. after ordinance takes effect.
In the case of other routes the grant will remain in force for 25 years after
the date the. ordinance takes effect.
For terms see V. 105, p. 1617.
On Nov. 19 1917 Federal Judge A. M. Cochran issued a temporary in¬
junction restraining the agents or employees of the city of Newport from
interfering with the operation of the So. Cov. & Cin. St. Ry. and from
.
First
On common, dividends are
until 6% is reached, which
See V. 84, p. 449, 930; also terms in V. 84, p.
1489, under Columbia Gas & Electric.
Under agreement ratified in July
1915 the exts. and add'ns to Union Lt., Ht. & P. Co.'s property are to be
paid for by the issue of new 50-year 5% bonds (see befow) Instead of by
sale of stock of the Cincinnati company as provided tinder the old agree¬
ment.
V. 101, p. 694.
The co. will lease jointly with the Western Union
Telegraph Co. for a period of from 20 to 30 years, the Dixie Terminal Bldgs.
upon their completion.
(Expected to be about Jan. 1921.)
The controlled Cincinnati Covington & Erlanger St. Ry., which was in¬
COOPERSTOWN, N. Y.
POWER & RAILWAY CORPORATION.
Pref
TRACTION
is to be the rate thereafter.
ORGANIZATION.—Incorp. in New York in July 1909 as the Otsego &
Herkimer RR., succeeding the Oneonta & Mohawk Valley RR. (V. 89.
p. 41D.
Name changed to above in July 1916.
In 1917 acquired control
of the Colliers Light, Heat & Power Co., Deposit Electric Co., Hartwick
Power Co. and Southern New York Power Co.
In addition to operating an electric interurban railroad the co. serves
electric light, heat and power in 24 cities and towns with a population in
excess of 50.000.
The railroad franchise is perpetual and others are per¬
Common $774,900
ky.
COVINGTON LIGHT &
bonds and 4K% per annum on preferred stock.
to be 3% for first year, increasing K% each year
SOUTHERN NEW YORK
Interest.
and
ORGANIZATION.—Incorporated under the laws of New Jersey on
March 11 1902 and purchased all the stock of the Union Light, Heat &
Power Co. of Covington and of the Cincinnati Newport & Covington Rail¬
way.
V. 74, p. 576.
The latter was organized in 1892 to buy up and con¬
solidate all the roads on the Kentucky side of the river opposite Cincinnati.
Lease.—The Union Lt., Ht. & Power Co. and the Cine. Newp. & Cov,
Ry. (both controlled through stock ownership by the Cine. Newp. & Cov.
Lt. & Tr.) were leased from Apr. 1 1907 to Columbia Gas & Electric Co.
(incorporated in Ohio) for 45 years.
The lessee guarantees interest on
of Covington
Date.
Edwin Duffey; V.-Ps.f D. W. Van Hoesen
Mgr., G. H. Garrison.—V. 81, p. 507.
E. H. Brewer; Treas. & Gen.
"Jentral wards of
STOCK AND BONDS—
Dec. 31 1918, net, from operation,
dept.), $24,110; bond, &c., int., taxes,
EARNINGS.—For fiscal year ending
$22,451; other income (lighting
$37,762; surplus, $8,799.
$220,111
309,685
petual or extend beyond the maturity of the bonds.
Valuation.—In 1918 the property, after deducting over
(not including sidings and turn¬
and Preble, and between
outs) between Cortland, Homer, Little York
Cortland and McGrawville.
Has 33 cars.
Int..tax..&c. Pref. Divs- Surplus.
$140,423
$84,465 def.$4,777
128,824
84,465
96,396
1,646,883, against 1,730,580 in 1918.
ROAD.—Operates 72 miles of track from Columbus to Lancaster and
from Columbus to Chlliicothe.
Is operated by third-rail system.
Standard
gauge, 70-lb. T rail.
Within city limits of Columbus, company operates
over tracks of Columbus Ky., Pow. & Lt. Co. under oper. agreement.
OFFICERS.—Pres. and Mgr., Frank A. Davis; V.-Pres. and Treas.
Edwin R. Sharp; Sec., A, C. Moorhaus, Supt., C. Skinner.—V. 87, p. 481
615, 679; V. 91, p. 871; Y, 102, p. 1437, 1626; V. 107, p. 83.
$818,188
1 1935
!Can be called on 6 months' notice.
Net.
Gross.
Year—
1919
19181,023,108
Passengers carried in 1919,
320,000 Aug
Tr. Co., N. Y., Trustee.
105,000 June 1 1957
Equitable Tr. Co., N. Y.. Trustee.
Bonds.—Of the $500,000 issue of 1905, $180,000 are reserved to retire
prior liens.
They are subject to call at 105.
5 J-D
1907
Int. at
1,458,000 8ept 1 1923
5M-S
c*tf lint, at Harris Tr. & Sav. Bk.,Chic.. Trustee.
be issued for 75% of cash ex¬
penditures, and for permanent extensions and additions to property, and
only when net earnings are twice the Int. charge on outstanding bonds and
those to be Issued. Bonds have a sinking fund of 1% per ann. on bonds out
1913 to 1917; thereafter 2% per ann. $172,000 have been retired. They are
not subject to call. See particulars, bonds, property, &c., in V. 87. p. 679.
Dividends.—Dividends on old issue of pref. stock were to accrue from
Oct. 1 1905. but amounts due Jan. 1 1906 and April 1 1906 were relinquished
by shareholders, and 1st dlv. (1K%) was paid July 1906 and 1K% Oct.
1906 (V. 82, p. 1440); in 1907 and since, 5% per annum.
On Oct. 15 1918
and again on Apr. 15 1919 divs. of 1 % (payable In U. S. Liberty Loan 4K %
bonds) were paid on the common stock.
1 ;
EARNINGS.—For 12 months ending Dec. 31:
($1,000)
Bonds.—Additional 1st M. bonds can only
Maturity.
Outstanding.
$320,000
Interest.
Date.
STOCK AND BONDS—
Stock, com. $320,000 ($100)
.
($100, $500 & $1,000)_c*tf lint, at Equitable Trust Co., N. Y
Trustee
Stock.-— Of the pref. stock reported outstanding, $125,000 Is held by the
Equitable Trust Co. of N. Y., which has agreed to waive all divs. thereon
and also not to sell any part of it until earnings equal to 2 times the div.
requirements on the total amount outstanding.
If such earnings do not
accrue before Jan. 1 1923 the trust co. agrees to surrender this stock to the
co. for cancellation, without receiving any compensation therefor.
Addi¬
tional pref. stock may be issued only when net earnings applicable to pref.
divs. are at least twice the pref. stock div. requirements . Pref. stock Is
free of normal Federal income tax and is tax exempt in N. Y. State.
V.
106, p. 822.
Bonds.—Call, at 105 on any int. date.
Tax-exempt in N. Y., tax re¬
funded in Pa., and normal Federal income tax of 4% paid by co.
V.
108. p. 2123.
EARNINGS.—For years end. Dec. 31 (incl. So. N. Y. Pow. Co.):
Cal.Yrs.
Gross.
Net (aft. Taxes). Oth. Inc. Bond Int., &c. Bal.,Sur.
1919
$493,192
$127,157
$409
$56,984
$70,582
1918
410,974
94,323
211
56,552
37,982
ROAD.—Operates 62.04 miles main and 4.63 miles second track. 150
miles being on private right of way, between Oneonta, Cooperstown, Rich¬
field Springs and Mohawk, from which point it operates over the N. Y.
State Rys. to Utica, 15.10 miles, and to Herkimer,
1.40 miles.
Total
operated, 83.17 miles.
Rails 60 to 70 lbs.; 22 passenger and 5 freight cars;
1 locomotive; 4 snow plows: 2 service and 26 other cars.
Has a 2,500 k.w.
hydro-electric power plant, a combined 500 k.w. hydro-electric and steam
plant and 2 steam plants with a combined capacity of 1.750 k.w.
An addi¬
tional 750 k.w. steam turbine was installed in 1919.
Also owns 70 miles of
transmission lines.
A new transmission line from Colliers to Walton and
Deposit is planned which would enable the co. to shut down the 250 k.w.
steam plant at Walton.
OFFICERS.—Pres., Jos. B. Mayer; V.-P. & Gen. Mgr., C. L. Stone;
Sec.. James L. de Rosset; Treas., H. R. Skirving.—V. 106, p. 2230;
V. 107, p. 83, 1921; V. 108, p. 270, 1512, 2123.
-
in
tearing up any more tracks.
Those which had been torn up were at once
replaced bv the co. and operations resumed.
The trouble arose out of
the franchise litigation between the co. and the city.
In Aug. 1918 the
Covington Board of Commissioners adopted a resolution offering to enter
Into a new contract with the co. whereby fares may be increased from
5 to 6 cents.
V. 107, p. 905.
Up to April 1 1920 this had not been done.
On Apr. 15 1918 a decision was handed down in the U. S. Supreme Court
In favor of the So. Cov. & Cin. St. Ry. Co., in the action brought by the
city of Covington to oast the co. from its streets.
V. 106, p. 1688.
In Jan. 1920 the Union Lt., Ht. & Pow. Co. brought out $2,150,000 1st
mtge. 7% 5-year bonds to retire $1,560,900 2-year 6% 1st mtge. notes due
Feb. 15 1920. to purchase and cancel $303,300 5% bonds due Nov. 1 1965
and to provide for exts. and iinpts.
V. 110, p. 368, 871.
Interest.
Date.
STOCK AND BONDS—
Common, $5 000,000
($100)
Q-J
-
Maturity.
$5,000,000 Apr'20, IK
Outstanding.
4K%
non-curn,
$5,-1
4.500,000 Apr '20, IK
000,000 ($100).
-./
4K Q-J
Underlying Bonds—
150.000
Jan. 1 1932
Bo Cov&Cin cons M $500,000/ 1892
6 g J-J
gold ($500, $1,000).
[Covington Sav Bank & Tr. Co., Trustee.
Cincinnati Newport & Covington—
1st consol mtge, gold, $3,-/ 1892
5 g J-J
2.850,000 July 1 1922
000,000 ($1,000).__c*&r__fFarmers' Loan & Tr. Co. of N. Y., Trustee.
Pref.
2d
mortgage,
$1,000,000.
($1,000 each)
Union
Light. Heat &
gJ 1896
ci Farmers'
Pmrer Co.—
5 g J-J
859,000 July 11922
Loan & Trust Co., N. Y., Trustee.
2,150,000 Feb. 151925
mortgage
$5,000,000/ 1920 7 g F-A 15
s Bank
& Trust Co.,
($100,
$500 and $1,000)(Int. at Union Savin?
Jankers Tr. Co., N. Y.
gold c*&r*_
_tf[
Cine., Tr us., or at)
Guaranteed Bonds—
1980
185.000
Licking River Br Co 1st Ml
1914
5 M-S
$185,000 guar (see text) s f/
,
First
bonds of 1892 of the O. N. & O. Ry.,
the trustee to retire underlying mortgage
Bonds.—Of the first consolidated
$150 000
are
with
deposited
alive,
The perpetual charters of constituent companies are kept
and their capital stocks are deposited with the trustee as collateral for the
first consols.
Interest on those bonds Is payable at the National B&i*k of
bonds.
First National Bank. Cincinnati, and Liberty Nat,.
Covington.
The Union Light, Heat & Power Co.
1st M. 7%
a 1st lien on the co.'s property.
Additional bonds of this issue
Commerce, New York.
Bank,
bonds
may
are
be issued for 85% of the cost of
additions and impts. under certain
restrictions.
Are call, all or in part on any int. date on 30 days' notice at
102 and int. to and incl. Feb. 15 1923, and thereafter at 100 and int.
The
Columbia Gas & Elec. Co. guar., p. & i., the 1st M. bonds of the Union
V. 110, p. 368.
Licking River bonds are guaranteed
Elec. Co. and the South Covington & Cin. St. Ry.
(1K% quar.).
On com¬
and K % Oct. 15 1907. In
1909,3K%;in 1910, 4K%: in 1911,4K%;in 1912, 5K%.
Lt., Ht. & Pow. Co.
by Columbia Gas &
DIVIDENDS.—On pref. 4K% is being paid
mon stock first div. of K % was paid July 15 1907
1908. 3K%; in
In 1913, 5K%:
in 1914 and since, 6% per annum.
ROAD.—Connects Cincinnati, Covington, Newport,
Bellevue, Dayton,
Southgate, Fort Thomas, Fort Mitchell, West Covington and
Total in operation. 68 miles; laid with 80-lb. Johnston glrdar
and 72-lb. "T" rails.
OFFICERS.—Pres., James M. Hutton; V.-P., Louis J. Hauck; Sec. &
Treas., George M. Abbott.—V. 105. p. 1617; V. 106, p. 821, 924, 1683.
V. 107, p. 905, 1099; V. 110, p. 871.
Clifton,
Ludlow.
n
corning
y
CORNING & PAINTED POST STREET RY.—A trolley road.
ORGANIZATION.—Incorporated Dec. 11, 1894.
Commenced opera¬
tion Nov. 1 1895.
Control changed hands in 1904.
V. 80. p. 162.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock. $100,000 ($100)
$100,000 1905-06,4%
1st mortgage. $100,000
1896
5 J-J
100,000 Jan
1 1936
The bonds fell due originally in 1916 but. were extended for 20 years.
I
EARNINGS.—For cal. years:
Gross
Net (after
Year—
Earnings.
$77,684
73,712
1918
1917
Taxes).
$26,820
26,645
Interest,
Rents, &c. '
Balance,
Survlus.
$12,922
10,703
$2,374
875
$16,271
16.818
Corning to Painted Post: 21 cars.
& Treas., David Bosman;
A. L. Sorensen.—V. 80, p. 62.
OFFICERS—Pres., F. D. Underwood; V.-P.
Sec.. J. E. Packer, New York; Compt.,
RAILWAY
CO.
texas.
>
,
and
railway properties formerly owned by the Dallas Elec.
Dallas Electric Co. ih this Section for Sept. 1917) under
the "service-at-cost" franchise approved by the citizens of Dallas at an
election held April 3 1917.
Formal acceptance of the franchise was filed
Sept. 27 1917.
V. 105, p. 1419.
The lighting properties of the Dallas
Electric Lt. & Pow. Co. were taken over by the Dallas Power & Light Co.,
ORGANIZATION.—Incorp. in Texas on Sept. 22 1917 to take over
Other
Income.
ROAD.—Own9 5.9 miles of track from
dallas,
DALLAS
operate the electric
Lt. & Pow. Co. (see
which see below.
The company
leases
with the right to purchase for $2,000,000, the
Oak
Traction Co. at an annual rental increasing
$115,000 for the first three years to $150,000 the seventh year and
Cliff lines of the Northern Texas
cortland,
n.
y.
from
THE CORTLAND COUNTY TRACTION.—Trolley.
ORGANIZATION.—Is a reorganization on June 22 1901 of the
& Homer Traction, sold at foreclosure on Apr.
Cortland
In June 1905 ab¬
previously controlled.
Fur¬
light to the cities of Homer and Cortlana and to the public.
Carries
sorbed the Cortland &
nishes
23 1901.
coal and freight
as
well
Homer Electric Co.,
as passengers.
th.6TG3-ft6r
Sept. 30 1917 purchased the Dallas Interurban Terminal Associa¬
a modern fireproof eight-story passenger terminal and
building in the business district of Dallas, and assumed its notes.
The terminal facilities have been leased for 20 years to the three intern roan
lines entering Dallas.
The terminal was opened for service Sept. 1 1916.
On
tion,
office
which has
ape., 1920.j
ELECTRIC RAILWAYS
Franchise.—The franchise permits a return of 7% on the property value,
fixed at $7,561,749, and provides for: (a) an interurban not
less than 30
miles in length, from some outside point into Dallas, work to be begun
within six months from the time of operation under the ordinance, and line
to be put in actual service within 13 months from that date unless prevented
by causes which could not have been reasonably anticipated: (6) an inter¬
urban not less than 30 miles in length from some outside point into Dallas,
work to
begin within six months from the time when the gross earnings of
the lines east of the Trinity River, excluding interurbans, shall bear the
same proportion to the then property value as did the gross
earnings to
property value in 1913:
(c) an expenditure of $1,000,000 in altering, re¬
constructing, rearranging and improving the properties originally put in
operation by the company, the city to receive $200,000 damages for failure
to comply with the agreement (see program of improvements, &c., in
V. 105, p. 2271); (d) Fares—(1) cash fare 5c. 22 tickets for $1; (2) cash fare
5c., 6 tickets for 25c.; (3) cash fare 5c., 7 tickets for 25c.; (4) cash fare 5c.,
8 tickets for 25c.; said schedules to be applied as follows: Whenever after
paying or providing for the return on property value, the repair, mainten¬
ance and depreciation reserve and the accident reserve are not less than
normal and the surplus reserve exceeds normal by 50%, the fares shall be
reduced to the next lower schedule than the one then in force, and if after
operating six months the surplus reserve exceeds normal by 30%, the fares
shall again be reduced to the next lower schedule, and further reductions
shall be made at six months intervals until the surplus reserve shall amount
to less than 10% in excess of normal.
Whenever the surplus reserve is
reduced
one-half of normal,
to
the grantee may at six
months intervals
put in force the next higher schedule than the one then in force until the
surplus reserve equals 90% of normal.
Children under 12 and students
under 17 years of age, shall be carried for half-fare.
For further details
see V.
105, p. 1419.
Wages.—On Feb. 1 1918 increased the
hour.
wages of trainmen by 2 cents per
In addition to this increase the men are to receive % of whatever
they may save out of an annual appropriation of 4H% of gross re¬
ceipts for accidents.
See also V. 109, p. 1079. 1
tem serving a number of cities and towns in
Texas, in and adjacent to the
Waxy Belt." including Dallas, Waco, Denison, Sherman, Corsiand McKinney.
Also owns and operates the local
street railway systems in all of these cities
except Dallas.
Present estimated
population connected and served, 365,000.
Leases for 20 years from Dec.
"Black
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
$2,250,000
500,000
Dallas Elec Term M notes/ 1916
6 J-J
750,000 Jan 21 1921
$1,000,000($500&$l,000)c*.\Infc. at State St. Tr. Co., Boston, Trustee.
Secured notes Series "A" $1,-1 1918
7%
■
1,000,000 June 151920
100,000 gold__
/Equitable Trust Co., New York, trustee.
Unsecured notes
1917
6%
2,600,000 April 1 1922
Stock.—Pref. stock
is entitled to 7% non-cum. divs. up to Sept. 30
and to 7% cum. divs. thereafter.
Notes.—The
Dallas Term.
Red. at 110 and divs.
M.
on
1920,
60 day notice.
have been assumed
notes
by the Dallas
Ry. Co.
Red. as a whole at any time at 101 and int.
Bonds.—Redeemable at par and interest.
EARNINGS.—For cal. year 1918, gross, $1,732,298; net, $248,838.
In
1917. gross, $1,331,095; net, $289,025.
ROAD.—Owns and operates 69.2
miles! of track in the city of Dallas and
suburbs in addition to the leased Oak Cliff lines.
237
cars.
Standard gauge.
OFFICERS.—Chairman of Board,
C. W. Hobson; Pres., J. F. Strick¬
land; V.-P's., J. C. Duke, C. E. Calder and Richard Meriwether; Sec.Treas., J. B. Walker; Gen. Mgr., R. Meriwether.—V. 105, p. 1617, 1707,
2271; V. 108, p. 1274, 2241; V. 109, p. 1079, 1609; V. 110, p. 1415.
DALLAS POWER & LIGHT CO.
ORGANIZATION.—Incorp. in Texas
on
Sept. 22 1917 to take over and
8>erate the light and power Dallas Electric Co. (See this section forPower
formerly controlled by properties of the Dallas Electric Light &
Sept.
o.
1917) under the franchise approved by the citizens of Dallas at an election
April 3 1917 and formally accepted on Sept. 27 1917.
The railway
properties of the Dallas Elec. L. & P. Co. were taken over by the Dallas
Ry. Co., which see above.
V. 105, p. 1423.
Does substantially all the electric light and power business in Dallas,
serving a population of about 140,000.
Franchise.—The franchise provides for an expenditure of $2,000,000 in
altering, reconstructing and rearranging and improving the distributing
held
Systems, power plants and properties and 18 months additions and extenin making after Sept. 30 1917,
$1,000,000 to be expended within
ons,
and
$1,000,000 within the succeeding 42 months.
Further provisions cf
are (1) a definite "property value" ou which the co. is author¬
ized to earn 8% per annum.
This auth. rate of return is increased automat¬
ically by specified percentages if and when the maximum rate for lighting
is reduced, and conversely is decreased if. under certain conditions, the
maximum rate for lighting is increased.
(2) The agreed "property value"
on Sept. 30 1917 was placed at approximately $4,850,000 plus all subsequent
admitted additions and improvements, there was on July 15 1919 a "prop¬
erty value" of about $6,200,000.
(3) The rates for service are under the
jurisdiction of the city authorities, but the maximum lighting rate cannot
remain lower than 6 cents per k.w. hour unless the co. is earning the full
rate of return on the "property value" and in addition is maintaining out of
earnings:
(a) A "surplus reserve" of 8% on the "property value"; (b) An
"accident reserve" of 2>£% of the gross receipts; (c) A "maintenance and
depreciation reserve" of 6% of the "property value."
(4) The term of the
franchise is ten years from April 3 1917, and continues thereafter unless
and until the city or its licensee shall purchase the property, in which event
the city shall pay the co. at least 105% . or the city's licensee at least 110%
of the then "property value."
(5) Provision for arbitration of disputed
matters between the city and the company.
the franchise
On June 30
1919 the
auth.
by the Mayor and the City Comm.
$1,500,000 7% cum. pref. stock and $5.000.000 6% 30-yr. mtge. bonds.
The co. in July 1919 issued at par $1,000.000 of the pref. stock (this was offered to the co's. employees and
patrons—V. 109, p. 984) and $4,500,000 of the bonds, the proceeds being
used to pay off $1,000,000 1st mtge. 7% notes due Feb. 1 1920 (V. 109,
p. 479) and $4,000,000 6% unsecured notes due April 1 1922, leaving avail¬
able for corporate purposes $220,000.
The $500,000 unissued bonds were
placed in the treasury of the co.
V. 109, p. 274.
Compare V. 109, p. 175.
co.
was
of Dallas to issue not more than
STOCK AND BONDS—
Date.
Interest.
Com stock $2,000,000 ($100).
Pref. stock $1,500,000 cum.
Maturity.
Outstanding.
$2,000,000
1,000,000 Feb '20, W\
1st M Ser
"A" $5,000,0001
1919
6 g J-J 1
4,500.000 July 11949
($500 & $1,000) goldc *r*tf/01d Colony Trust Co., Boston, Trustee.
Bonds.—Are
nor
issuable
in
series
7%
July
maturing not earlier than
1
later than July 1 1962, and bearing such rates of int. and red. upon
terms
1949
such
be determined by the board of directors.
Additional bonds
may be issued to the extent of 80% of the cost of exts., betterments and
impts. under certain conditions.
Otherwise the authorized issue is not
limited as to amount.
The series "A" bonds are red. all or in part on 30
days' notice at 107/^ and int. up to and incl. July 1 1924; 106/^ and int.
through July 1 1929; 105H and int. through July 1 1934; 104 lA and int.
through July 1 1939; 103 and int. through July 1 1948; 101 and r»;t. there¬
after.
$500,000 are held in the treasury.
Annual sinking and impt.
fund beginning 1924 of Wi% of'the total amount of bonds issued.
Int.
is payable in Boston and New York.
\
Dividends.—In Feb. 1920 1%% was paid on the pref. stock.
as
may
17 1915 the terminal facilities of the Dallas Ry.
Interurban lines are
located on private right-of-way; city franchises are
satisfactory, and, in the
opinion of counsel, with two unimportant exceptions, extend well beyond
1947. Enters Dallas over tracks of the Dallas Railway Co, under
long-term
contract.
Fwe
Gross
Net
earnings
earnings..
The present co.
,
1918.
>
*$1,434,367
*696.369
1917.
*$1,267,922
*678,708
1916.
1915.
$1,143,065
$1,030,317
544,475
609,705
began operations Oct. 1 1917.
PROPERTY.—Power
station
Federal
24,500
Nov.
1917
p.
Has
over
357
Management.—Operations are supervised by Electric Bond & Share Co.
824; V. 108, p. 2332; V. 109. p. 175. 274. 479, 984.
—V. 106. p.
company
announced
increase
an
cents per
mile to
In
cover
of operation.
Strike.—A strike begun Mar. 1 1918 was called off on May 9
returning to work under old conditions.
V. 106, p. 2230.
1918, the
men
STOCK AND BONDS—
Com stock $6,000,000 ($100).
Date.
interest.
let & ref Mtge gold
($500 &\
$1.000)
Oonv
c*ntf
Outstanding.
Maturity.
$6,000,000
lit pf 7% cum $1,500,000($100)
2d pref stock $3,000,000 ($100)
0-.1
Q-F
5 g J-J
1917
/Harris
See text
700,000 Jan '20, \ %
3.000,000 Feb '20, 1%
5,571.000 Jan
I 1947
Trust & Sav.
Bank,
Chicago;
Trus.
debentures
6 g J-J
$3,000,000i
1917
2,160,000
Jan 1 1942
($1,000 and $500)
c*&r/Int. at St. Louis Un. Tr. <'o., trus., or N. Y.
Texas Traction 1st M sink fdl
1907
5 g J-J
1.257,000 Jan
11937
$3,000,000 ($l,000)gc*&rtf 1 Tnt. at Old Colony Trust Co.. Boston, Trus.
Sc Slier first mortgage./
5 J-J
114 .000 July 1 1927
1902
$350,000 ($1,000)
c*tf (int. at Illinois Tr. & Sav. Bk.t Chic., Trus.
Den
Preferred Stock.—Remaining 1st pref. stock I s held la treasury.
Red. on
dlv. date after Jan. 1 1922 at 107 H and dlv. on 30 days' notice.
The 2d
pref. stock is callable on any div. date on 30 days' notice at 107H and dlv.
any
Bonds.—Additional 1st & ref. bonds
may
be issued for only 75% of the
of extensions, &c., provided net earnings are twice the total annual
Interest charge. Including bonds applied for.
In addition to ordinary re¬
serves for personal Injuries and
damages. $75,000 bonds are
cost
provided usable
for this sole purpose.
Provision Is also made fort refunding underlying bonds
A special trust fund for maint. and renewals is
provided out of gross earn¬
ings as follows: 1917. 11%; 1918. 12%; 1919, 13%:
1920, 14%; 1921 and
15%. (Any part not so used may be expended for exts., &c.,
redemption or any outstanding bonds.
Beginning Apr. 1 1921
and yearly thereafter, cash equal to 1% of the 1st Sc ref. 5sand
underlying
bonds outstanding on the previous Dec. 31, less amount of
payments
to underlying sink. fds. during preceding year, shall be
deposited, usable for
extens., &c., against which no 1st & ref. 5s shall be Issued, or for the retire¬
ment of 1st & ref. or underlying bonds.
The 1st & ref. 5s are red. on any
Int. date up to and lngl. Jan. 1 1942 at 105 and int.: thereafter at 102and
int.
Of the amount reported outstanding $52,000 are held in
treasury.
Interest is payable in Chicago and New York.
See offering in V. 106, p.
397.
The debs, are callable Jan. 1 1922 and any int. date thereafter on
30 days' notice at 102
and Int.; convertible on and after Jan. 1 1922 into
7% cum. first pref. stock, par for par, with adjustment of int. and divs.
The Texas Traction 1st 5s can be called at 110 & accrued interest
on any
int. date upon 30 days' notice.
$560,000 (not incl. in amount
reported outstanding) are deposited under 1st & ref. mtge. of the Texas
Electric Railway Co.
A sinking fund of 5% of gross earnings began
July 1 1912, to be used in the purchase of bonds; $349,000 held in
sink, fund not incl. in amount outstanding above.
Den. & Sher. 1st M.
bonds are subject to call since July 1 1917 at 105 and interest on four
weeks' notice.
A stinking fund began July 1 1905 of 2% per annum of
bonds out until 1913, when amount payable became 3% per annum until
1917; from 1918 to 1922. incl., 4% per annum; 1923 to 1926, incl., 5% per
annum; $132,000 in sinking fund, not Incl. in amount outstanding above;
$3,000 canceled; $37,000 in treasury (not incl. in amount reported outstg).
On March 1 1920 an initial div. of
of 1% was paid on the common stock.
thereafter,
or
for the
Dividends.—Divs.
Dividends of
the
on
l%% quarterly
first
on
pref. stock were begun Oct. 1 1917.
the 2d pref. stock were begun Nov. 1 1917.
EARNINGS for years ending Dec. 31:
Year—
Gross.
Net (aft. taxes).
1919
$2,951,511
1918
2,381,475
$1,213,233
945,217
Interest.
'$477,778
Bal.
467,397
surplus.
$735,455
477,820
ROAD.—Owns and operates interurban lines between Dallas and Deni¬
son,
79.67
m.;
Dallas and Waco, 96.35 m.; Dallas and Corsicana, 59.47
m.
gncl. 2d main track, sidings and turnouts, 15.28 m.); local lines incl. sidings,
enison, McKinney, Waco, Corsicana and Waxahachie, Tex., in Sherman,
&c., 33.98 m.; total, 279.45 m. (incl. 9.98 m. of track, being entrance into
Dallas, leased). Gauge 4 ft. 8*A in. 70-80-lb. "T" rail. 63 interurban pas¬
67 city passenger, 16 express and baggage and 44 work, &c., cars;
total, 190; 14 sub-stations.
Leases generating plant to Tex. Pow. & Lt. Co.
from which it purchases power under contract, expiring at same time as lease.
senger,
OFFICERS.-HPres., J. F. Strickland; V.-P. & Gen.
Mgr^Burr"MartS
V.-P. & Treas., H. I. Gahagan; Sec., Jas. P. Griffin; Aud., J. A.
V. 106, p. 2230; V. 108, p. 581; V. 109, p. 1893.
danbury,
Wright,'—
conn.
BETHEL STREET RY.
□ANBURY &
New Control.—In
Sept. 1917 Stephen Crute, New York, and associate#
V 105. p. 1208.
acquired control.
Receiver.—On Oct.
30 1917 Judge James E. Walsh, of Greenwich, was
appointed receiver of the company on application of A. H. Flint, holder of
$1,000 note, overdue.
V. 105, p. 1801.
Judge Walsh was superseded by
Atty. J. Moss Ives, of Danbury, in Dec. 1917.
V. 105, p. 2272.
a
Committee
Conn; Chas.
for ls( & Ref. 5s.—Chairman John McCarthy; Danbury,
E. Graham, New Haven, Conn., and P. Le Roy liarwood.
New London, Conn.—V. 106, p. 498.
Foreclosure Proceedings Started.—In Dec. 1919 a petition, on behalf of the
2d Mtge. bondholders, was filed in the Superior Court in Bridgeport, Conn.,
asking permission to institute proceedings to foreclose the property.
In¬
terest on the 2d mtge. bonds had not been paid for 2 years.
[Interest on the
first mtge. bonds, however, is being paid.]
V. 109, p. 2171.
ORGANIZATION.—Incorp. May 7 1886 under the laws of Connecticut.
Has a perpetual special charter, the only street car
company serving the
city of Danbury and town of Bethel.
Its lines also extend to the Danbury
Fair Grounds and the pleasure resort of Lake Kenosla.
STOCK AND
BONDS'—
Date.
Interest.
Outstanding. Last Div..Ac
J-J
$320,000 Jan *12. 2%
1913
5 g M-N
339.500 May I 1943
i..<.'*/Int. at American Trust Co.. Bos.. Truftee.
Stock. $623,000 (par $25)
First
<fc
ret
$600,0001
mtge
<$5W and *1.000) n *
Consul mtge, $300,000.
gold/ 1906
5 g M-N
100.000 May 1 1936
($500 and $1,000)__
\lnt. at American Trust Co., Boston, Trustee.
bonds,
$75,000/ 1908
6 M-S
63,000 Mar 1 1918
($1,000 and $500).
cllnt. at City National Bank of Danbury.
Debenture bonds. $150,000— 1911
6 J-J
86.000
Jan 1 1921
Receivers'ctfs $60,000
7%
55,000
Debenture
Bonds.—The 1908 debs, are red. at 105 on any Int. date after due no¬
Up to Sept.
1
1919
no
action had been taken towards the retirement;
issue, the matter "automatically remaining in abey¬
debentures, $75,000 are reserved for like amount of
Of the 5s of 1913, $100,000 are reserved to retire a
like amount of consol. 5s and $150,000 for retirement of the two debenture
or
extension
of this
Of the 1911
debentures of 1908.
ance."
in 1897-98. 4%;
a
in 1899-
ROAD.—Trolley road In Danbury, and from Danbury to Bethel, and to
miles In all: sidings. Sec., 1.014 miles; total, 16.075
Lake Kenosla, 15.031
miles.
42
passenger
and 7 other cars.
REPORT.—For cal. years:
Standard
gauge.
,
Qros*.
1916
July 5 1916 and Is
In 1898-99. 2%;
1900. 1H%:
In 1900-01, 1J*%; In 1901-02. 3%; in 1902-03. 3%;
in
1903-04. 1H%; 1907 to 1911. 4% ann.; In 1912, Jan.. 2%; none since.
1918
1917
ELECTRIC RAILWAY.
ORGANIZATION.—Incorp. in Texas
the
2\$ cents to about 2%
increased costs
issues
*
h,
OFFICERS.—Pres.. J. F. Strickland; V.-Ps., W. B. Head,
H. P.
Gibney and E. W. Hill; V.-P. & Gen. Mgr., Fred. M. Lege, Jr.; Sec. &
Treas., C. E. Calder; Asst. Sec.-Treas., J. C. Thompson and C. L. Cox.
$128,87w
141,653
165,321
Net.
$159
19,165
37,935
Int. A Taxes.
Balance.
$11,194
37,371
50,234
def.$11.035
def. 18,387
def. 12.299
consolida¬
tion of the Texas Traction Co. and Southern Traction Co. (see V. 104, p.
862. 560). comprising a modern, high-speed electric interurban railway sys¬
taxes and
Dividends.—In 1896-97. 4%;
capacity,
miles of distributing lines and over 24,837 connections with customers.
TEXAS
Increase.—In
passenger rates from about
tice.
EARNS.—Cal. Years—
Waxahachie
cana,
sum
Common, $2,250,000 ($100)-Preferred $500,000 7% ($100)
37
OFFICERS.—Pres. Sc Gen. Man
Treas., George H. Klinzing. Danbury
Stephen Crute. New York; Sec. &
V. 106, p. 498,715; V. 109, p. 2171.
ELECTRIC
3H
[VOL. 110
RAILWAYS
OHIO.
RAILWAY CO.—A trolley road.
ORGANIZATION.—Chartered May 12 1893.
Is a consolidation of the
Dayton Street RR., the Dayton A Soldiers' Home RR., the Fifth Street
RR.
Franchises run for 50 years from Feb. 8 1892 and Apr" 19 1893.
STOCK.—$2,400,000 ($100) com. auth.and issued and $600,000 ($10d;
$%pref. auth. and issued.
Bond issues have been paid off.
Dividends.—6% per annum is being paid on pref.
On common, in 1900
to 1903. incl.. 6%; also 16 2-3% ($250,000 in new stock at par or in cash),
declared Nov. 1903. paid Jan. I 1904; in 1904, 6%; in 1905, Q4%; 1906 to
1910, Inclusive, 7% per ann.; in Feb. 1907 paid a special dlv. of 5%.
(Y. 83. p. 1590); in 1911. 7%, and in April 1911 a special dlv. of $9 09 1-11
(V. 92. p. 1178): In 1912, Jan., \ H%In March 1912 began paying divs.
8.-M. insteadIn 1913. 8%. onIn 1914,317*4%.1*4%: 1915. 6%. Sept.,1916,
of Q.-J., and
March paid In June, 2%; In 2%;
ec., 2%.
In 1917,7%.
64%.
$813,621; in
In 1920, Mar.,1^%.
In 1919,6%.
In 1918, 6%.
EARNINGS.—For year ending Dec. 31
gross,
1919, gross $986,966; in 1918,
1917, gross, $777,443.
riROAD.—Controls and operates in all
§
35.948 miles of track, namely: Third
Line, Fifth Street Line, Green Line, Kamrner Ave. Line and Dayton
Soldier's Home Line.
Gauge 4 ft. 84 in.; rails 70 and 80-lb. T and
70 and 90-lb. girder; operating 42 G. E. 67 and 50 G. E. 800 motor equip¬
ments, 134 pass, cars, 3 sprinklers, 3 snow cars, 2 sand ears, 3 flat cars
Street
&
1 tool car and 1 work car.
I
OFFICERS.—Pres., E.
197
G. Shaw; 2d V.-P.,
M. Hall; Asst. Sec.. J. S. Mcoffice, 511-514 Mutual Home
1909; V. 100, p. 53,1256; V. 110, p. 359.
D. Grimes;
1st V.-P., G.
V. Winters; 3d V.-P., G. H. Gorman; Sec.,
Mahon' Gen. Mgr., T. E. Howell.
Main
Bldg., Dayton.—V. 99, p.
*
DAYTON COVINGTON & PIOUA TRACTION.—A trolley road.
mO RGAN IZAT ION.—This was formerly known as the Dayton At Troy
Traction, but name changed to tbe above In Aug. 1901.
The D. A T
Traction was Incorporated In Ohio in Jan. 1900 to build a street nil way
from Dayton to Troy, but route was changed, and road constructed from
Dayton to Covington and Plqua, about 38 miles.
Company acquire-* ■ n
right to use the tracks of the People's Ry. in entering city of Dayton.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturu
Stock auth, $600,000 ($100)
.......
$600,000
Pref, 5% n-c. $550,000 ($100)
550,000
First mortgage, $&0,000, gf 1902
5 g A-O
490.000 April 1 1922
($1,000)
c*.ntfllnt. at Old Colony Tr. Co., Boston, Trustee.
Second mortgage, $60,000. ntf
6 g M-S
60,000 Sept 1 1919
Bonds.—$60,000 1st mtge. bonds are reserved for extensions and im¬
provements; 2d mtge. bonds are subject to call on any int. date at 105.
EARNINGS.—For years ending June 30:
Year—
Gross.
Net, aft. Taxes.
Interest.
Surplus.
1917-18
....$169,860
$40,199
$29,925
$10,274
1916-17.
166,890
49,016
30,324
18,692
ROAD.—Total track 38 miles.
Standard gauge.
70-lb. T, 80 and 90lb. girder rails.
11 passenger cars. 2 express cars and 7 other cars.
OFFICERS*—Pres., D. Dwyer; V.-P. & Gen. Mgr., T. Russell Robin¬
son; Supt., T. J. Brennan.—V. 77. p. 146.
.
DAYTON & TROY ELECTRic~RY.—A trolley road.
ORGANIZATION.—Incorp. 1900.
Is built on both public and private
right Of way.
Completed in Dec. 1901.
In Dec. 1915 received a 20-year
extension or its franchise in Plqua.
Rails, 70-lb. T.
Power house located
at
Tippecanoe City, Ohio.
Stock, $500,000 ($100) com. auth. and Issued
and $800,000
($100) 5% cum. pref. auth.: $647,800 issued.
No bonds
Id May 1902 took over Miami Valley Ry. under 99-year
of $9,600 per annum, which Is applicable to stock of
$300,000, mortgage having been canceled.
Dividends.—On the pref. stock 5% per annum Is being paid.
On com.,
Jan. 1 1904, 2%; In 1905, 6%; in 1906. 6%; In 1907, 2%; In 1908, none; in
1909, 5%; In 1910, 6%: In 1911, 5%; in 1912, Mar., 14%. In 1913, Sept.,
14%; Dec.. 14%: In 1914. June, 14%: In 1915, Dec., 14%: in 1916
and 1917, 5% each.
None since.
EARNINGS.—For years ending Dec. 31:
r
Year—
Gross.
Net.
Deduct'ns.
Dividends.
Surplus
1919—
$392,583
$103,649
$46,910
$32,390
$24,349
1918...
359,932
96,731
40,503
23,838
32,390
319.458
107,704
37,524
57,386
13,266
ROAD.—Owns equivalent of 32.68 miles of single track between
Dayton
and Troy.
Leases 14.25 miles between Troy and Plqua (incl. 3.31 m. local
contemplated.
lease
at
a
rental
-.-.
(ines In
Plqua); total operated. 46.93 m.
OFFICERS.—Pres., H. P. Ciegg; Sec., L. O. Clegg; Treas. & Gen. Mgr.,
General office, Tippecanoe City, Ohio.
102, p. 152.
R. A. Crume; Aud., F. Sprague.
—V. 95. p. 1744; V. 99. p. 48; V.
tal
DAYTON SPRINGFIELD & XENIA SOUTHERN RY.—Trolley.
if ORGANIZATION.—Incorporated in 1909 as successor to the Dayton A
Xenia Transit Co., sold at foreclosure.
Stock, auth. and outstanding.
J200,000 com. and $300,000 pref. Par $100. 1919, M. auth. and Issued.
1st
500,000.
Earnings for
ending Doc. 31
$267,589; net,
year
after taxes, $43,940.
gross,
In 1918, gross, $221,484; net, after taxes, $40,154.
24 miles of track from Dayton to
On Dec. 1 1917 operations between
ROAD.—Owns and operates about
Xenla and from Dayton to Beaverton.
Beaverton and
Spring Valley,
\\4 miles, having
proven unprofitable,
subsequently dis¬
A. Ferneding; Sec., H.
L
Canby, all of Dayton.—V. 89, i>. 285; V. 105,
discontinued and that portion of the
mantled.
Pres. C. J. Ferneaing; V.-P., ,T.
were
Ferneding; Treas., Edw.
2272.
line
was
P.
OAKWOOD STREET RAILWAY CO.—A trolley road.
Franchise explres 1941.
In Oct. 1909 the Ohio Supreme Court held the franchise valid
over the objections of the City Solicitor.
Stock auth. and outstanding.
$500,000 (par $100).
No bonds.
Operates 8 miles of track In Dayton and
suburbs and leases (from Jan. 1 1916) the Oakwood RR.'s line In Oakwood
village;
total miles operated. 10 5 Standard gauge.
Pres. A Treas..
H. P. Clegg; V. P. & Gen. Mgr., Henry Gebhart; V. P., J. II. Winters;
Sec., Harry C. Weingartner, all of Dayton. V. 100, p. 1438.
(^ORGANIZATION.—Incorporated July 22 1870 in Ohio.
DECATUR,
INDIANA.
FORT WAVNE & DECATUR TRACTION CO.
ORGANIZATION.—Incorp. on June 11916 to succeed the Fort Wayne &
Springfield Ry., bought In at receiver's sale on Dec. 2 1915 (see V. 101, p.
2144).
On June 23 1916 the Indiana P. S. Comm. approved the purchase.
Fares.—In Jan. 1918 was auth. by the I.-S. C. Coram, to increase
passenger fares 15%.
In 1919 was auth, to Increase fares from 24 to 2%
cents per mile.
STOCK AND BONDS.—
Stock $150,000 ($100)
First mortgago $200,000
Date.
($1.000)
j
EARNINGS.—For
Cal. Years—
Interest.
Outstanding.
.....—
gold\
1916
$150,000
Maturity.
—
—
6%
156,000 June 1 1926
Int. at Tri-State L. A Tr.Co.,Ffc.Wayne,trus
ending Dec. 31:
Gross.
Net, aft. Taxes.
Interest.
Balance.
$74,344
$16,529
$9,360
$7,169
1918
57,303
9,607
9,360
sur.
247
1917
53,249
3,772
8,020
def.4,248
ROAD.—Operates 21.6 miles between Decatur and Ft. Waye.
Total
track, 23.7 miles.
70-lb. T rail; gaugel, 4 ft. 84 in.—V. 108, p1. 480.
1919
years
—
DELAWARE, OHIO.
COLUMBUS MAGNETIC SPRINGS <5c NORTHERN RY.
April 1920 we were informed that this line had been abandoned and
dismantled.
For history see this Section for Nov. 15 1919.
In
DENVER,
COL.
THE DENVER TRAMWAY SYSTEM.
(IV Denver & Northwestern Ry.—A holding company.
»
ORGANIZATION, Ac.—In Mar. 1913 a syndicate headed by Boettcher.
Porter A Co. of Denver
acquired a controlling interest through purchase of
the stock (about $1,600,000) held by Marsden J.
Perry of Providence,
this purchase making its total holdings about a
75% Int.
V. 96, p. 863
This company, since the plan In V.98, p. 1156, went into effect,, is
simply
a holding company,
practically its only asset being the $9,791,700 common
$ke Denver Tramway Co., which Is pledged as security for the $6.000.000 1st A Coll. bonds of this co., and Its only liability being $6,000,000
of Its capital stock outstanding In the hands of the
public, the payment of
its bonds having been assumed by the Denver Tramway Co.
_
Interest.
Outstanding.
Maturity,
Q-J 10
$6,000,000
See text
by Denv. Tram. Co.—see below).
Dale.
STOCK AND BONDS.—
DAYTON,
CITY
Stock $6,000,000 ($100)—
First and collateral mtge (assumed
Stock.—$900 is in the treasury.
Dividends.—Prior to July 1909 dividends were at rate of 6% per annum.
increased to 2% and same amount paid quar¬
Oct. 1913 rate was reduced and 1% was paid
rate quar. to and Incl. April 1915.
In July
1915 rate was further reduced to 4 of 1%.
Oct. 1915 dividend omitted.
V. 101
p. 1188. 1370.
None since.
REPORT.—Of Denver Tramway System for fiscal year ending Dec. 31
(Inter-co. transactions eliminated).
Report for 1918 in V. 109, p. 1887.
Fiscal
Gross
Net {after
Other
DcducBalance,
Year— Earnings.
Taxes, Ac.).
Income.
tions.
Surplus.
1918
$3,597,999
$832,097
$17,078
$958,055 def.$ll8,880
1917
3,419,468
1,150,352
19.818
968,617
201.553
OFFICERS.—V.-P., S. M. Perry; Gen. Mgr., F. W. Hlid; Sec., H. 8.
Robertson; Treas., H. J. Alexander; Aud., W. A. Doty.
V. 106, p. 2345.
(2) Denver Tramway Co.—Operating Company.
The Denver A Northwestern Ry. owns $9,791,700 of the common stock.
ORGANIZATION.—Incorp. March 30 1914 In Colorado as successor
to the Denver City Tramway Co., which had previously absorbed the Den¬
ver Tramway Power Co. and the Denver [Tramway Terminals Co.
Owns
entire $500,000 stock of the Consolidated Securities A Investing Co. (In¬
corp. on the same date to succeed the Denver Realty Co., Boulevard Real
Estate Co. and Denver Excursion Co.). which In turn owns all the outstand¬
ing stock and bonds of the Denver & Inter-Mountain RR.
See plan of re¬
organization under "Denver A Northwestern Ry." in V. 98. p. 1156.
Franchises.—Operates within the city of Denver under a general franchise
granted Feb. 5 1885.
Also under a 20-yr. grant voted by tax-paying electors
of the city In May 1906. which authorizes It to maintain three-rail tracks,
gauges 3 ft. 6 in. and 4 ft. 8H in., over all Its present lines within the city
and permits the construction of certain viaducts and extensions.
See de¬
In July 1909 quar. dlv. was
terly to July 1913.
In
(V. 97. p. 1115).
Same
cision In
V. 84. p.
Under decision of the U. S. Circuit Court of Ap¬
220.
peal on Nov. 11 1912 the franchise of 1885 was held valid, the Court de¬
ciding that in view of the franchise of 1906 it was unnecessary to pass upon
the duration of the older franchise at that time.1
The company claims that
its franchise is
perpetual.
See decision in V. 95, p. 1472.
Valuation.—In connection with fare hearings the co., in Nov. 1918,
placed the reproduction cost of its properties at $26,772,888,1 as of Dec. 31
1917.
The P. U. Comm.'s valuation of the same properties (in this case
"going value" and items for gravel beds and water rights included in the
co.'s figure were not taken into account) fixed the reproduction cost at
$19,495,374.
Compare annual report for 1918 in V. 109, p. 1887.
Fare Increases.—On Sept. 6 1918 the Denver City Council passed an
ordinance auth. the co. to charge a 6-cent fare on city lines.
V. 107, p.
1003.
On Sept. 12 1918 the Col. P. U. Com. auth. the co. to put into ef¬
fect a 6-cent fare beginning Sept. 15 1918.
An increase of 3 cents in the
one-way and 8-cents in the round-trip fares on the interurban lines to
Golden and Leyden was also authorized.
V. 107, p. 1192.
As a result
of a wage award made by the Nat'l War Labor Board to the co.'s employees
the co. asked for a 7-cent fare with a 1-cent charge for transfers, this
petition being granted by the Col. P. U. Comm. on Dec. 17 1918.
V. 107,
p. 2376.
Compare V. 107, p. 2097.
On Dec. 23 1918, however, the
city petitioned the Coram, for a rehearing on the 7-cent fare.
V. 108,
p. 77.
On Jan. 15 1919 the Comm. suspended the 7-cent rate with a 1cent charge for transfers.
V. 108, p. 378.
On June 30 1919 the City
Council repealed the ordinance passed Sept. 6 1918 allowing the co. to
charge a 6-cent fare.
The 5-cenfc fare was restored July 5 1919.
V. 109.
p. 172.
Because of the decreased fare, the co. on July 7 reduced wages to
the pre-war scale, which resulted in a three-day strike.
This was settled
by the city agreeing to pass an ordinance restoring the 6-cent fare tempor¬
arily.
At an election held Oct. 22 1919 the voters turned down both the
elastic 6-cent fare and service-at-cost plan.
V. 109, p. 1609.
Compare
V. 109, p. 1461.
A new ordinance effective Nov. 13 1919, however, was
passed.
This provides for a 6-cent fare granted the co. in order to avoid
a strike of the co.'s employees.
This ordinance is subject to repeal by the
Council or the people at any time.
V. 109, p. 1986.
In March 1920 the
co. was endeavoring to obtain a 7-cent fare.
V. 110, p. 1415.
Report of Citizens' Committee Recommending Service at Cost.—See V.
108, p. 2329.
Wages.—See V. 107, p. 1977; V. 110, p. 1289.
In March 1919 the company announced its inability, caused by abnormal
conditions, to take un or refund the $2,000,000 1st M. 5s of the Denver
City Tramway Co. due April 1 1919,
The co. therefore arranged for an
extension of these bonds at 6% to April 1 1924.
The extended issue is
redeemable as a whole at 1024 on any interest date.
V. 108. p. 1060.
The $2,500,000 conv. 6% bonds of the co. due April 1 1919 were ex¬
changed for an issue of 3-year 7% coll. trust notes due April l 1922.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity
Common stock $10,000.000—
$10,000,000
Pref stk $3,000,000 (7% cum)
See text
Coll trust notes gold.________ 1919
7%
2,500,000 Apr. 1 1922
lienvA NW Rv 1st & coll Mf 1902
5 g M-N
496,100 May 1 1932
g
$0,000,000
($500
and]Int. at Bankers Trust Co., New York.
$1,000 (assumed)...
c*i
trustee; also office of co. in Denver.
Red. at 105 and Int. on 90 days' notice.
-
—
...
-
....
City Tr Co 1st A ref Mf 1908
5 g M-N
11,306,400 Nov 1 1933
$25,000,000 g
($500 and]Int. at Bankers
Trust Co., New York,
$1,000} sinking fund..c*tfl
trustee, and In Denver.
Denv
City Tram purchase! 1899
6 g A-0
2.000,000 Apr
1 1924
money mtge g $2,000,000] Int. at Central Trust Co.. N. Y.. trustee.
($500 and $1,000) —-C*tf I
and in Denver (see text above).
Denv Cons Tram cons mtgef
1893
5 g A-O
1,167,000 Oct
1 1933
$4,000,000 gold
...ntf [Int. atBkrs Tr .Co.,N.Y..trustee A In Denver
Denv Tr Pow 1st impt mtgef 1903
5 g A-O
884,000 Apr
1 1923
$1,500,000 g (SL.OuO) guarjlnt. at Internat. Tr. Co.. Denver, trustee.
prluclpal and interest
tf (
or Guaranty Trust Co., New York.
Den
1st mtge $l,-f 1910
5 g M-S
500.000 g ($100 A $1,000)]Interest at Bankers
Oenv Tr Term
1,093,000
See text
Trust Co., N. Y.. tru»prin A Int.
c*tf (
tee, and In Denver.
Stock.—$9,791,700 common owned by Denver A Northwestern Ry. of
which $750,000 is held for conversion of Denv. Tramway conv. bonds, the
remaining $250,000 being set aside for expenses of organizing Denver Tr. Co.
guar
Bonds.—Of the bonds reported outstanding as above. $7,427,550 Denver
City Tramway 1st A ref. 5a and $18,000 Denver Tramway Terminals 1st
5s are owned bv the Denver Tramway Company.
Of the Denver A
Northwestern first and collateral mortgage bonds, $5,503,000 have been
exchanged for Denver City Tramway first and refunding 5s, and $900
are
in treasury > of Denver Tramway Co.
(not included in amount re¬
ported outstanding).
Of the Denver Consolidated Tramway first consoli¬
dated 5s, $163,000 have been canceled and $2,670,000 have been exchanged
for Denver City Tramway 1st A Ref. 5s.
The Denver City Tramway
Co., prior to the sale of its properties, executed a mtge. upon atl it9 physical
properties (other than those formerly belonging to the Denver A North¬
western Ry. Co.) junior to the lien of its First A Ref. 8. F. Mtge. (originally
matured Apr. 1 1919 and bore int. at 5%, but ware extended to Apr. 1 1924
at 6%) as additional security for the [$6,000,000] First A Collat. bonds of the
Denv. A Northvr. Co., the payment of which Northwestern bonds the Denv.
Tramway Co. has assumed.
Denver City Tr. Co. 1st A Ref. bonds are
red. at 105 A Int. after 1913 up to Nov. 1 1923; thereafter at 10214 A Int.
on 60 days' notice.
Sinking fund of 1% of bonds out began Nov. 1 1914
until and Incl. Nov. 11923; thereafter 2% of bonds out; $1,109,500 retired
through sinking fund.
The Denver Tramway Power Co. 1st Impt. Mtge.
bonds are subj. to call any int. date at 105 and int., sinking fund of $50,000
per annum, to retire bonds at 105 and int., commenced in 1908, and $616,000 have been retired (incl. $47,000 called for payment May 3 1920).
Interest payable in New York and Denver.
The remaining Denver Tram.
Term. Co. bonds are for impts.
They mature $60,000 annually Sept. 11916
to 1940.
Red. as a whole on any int. day at 105 A int. on 30 days' notice.
V. 98, p. 1156.
$240,000 retired.
REPORT.—Of Denver Tramway Co. (1918 report in V. 109, p. 1887);
Dec. 31 Year—
Gross. Net (aft.Tax..&c.) Oth. inc.
Deduc.
BaL.Sur.
1918
$3,453,520
$823,251
3,846
$958,055 df$130,958
.
-
3.279,576
1,143.474
2,412
968,617
177,269
EQUIPMENT.—Including the Denver A Inter-Mountain
BR., owns 250.51 miles of electric track, of which there are 210.54 miles of
city lines and 39.97 miles of Interurban lines; gauge. 3 ft. 6 In. and 4 ft.
84 in252 motor passenger cars. 141 trailers, 153 freight and 79 misc.
1917——---ROAD AND
cars;
total, 625
Mountain
RR.
cars.
Co.
All freight equipment leased to Denver A InterCapacity of central generating plant, 19.200 k. w.
5 sub-stations, 2 of 1,500 k. w. each. 2 of 1.000 k. w. and 1 of 900 k. w.
OFFICERS.—Chairman of Board, C. Boettcher; V.-P., S. M. Perry;
Gen. Mgr., F. W. Hild; Sec., H. S. Robertson; Treas., H. J. Alexander;
Aud., Wm. A. Doty.—V. 109, p. 172, 270, 477, 775, 1079, 1461, 1609;
1887, 1891,1986; V. 110, p. 1289,1415.
APE., 1920.]
ELECTRIC RAILWAYS
MAP
OF
39
TBCE
DETROIT UNITED RAILWAY SYSTEM
'.i.
5
:
•
INCLUDING
Applegai
DETROIT & PORT HURON SHORE LINE RY.
(BAPID EAILIVAY SYSTEM)
SANDWICH, WINDSOR & AMHERSTBIJRG RY.
.CrosweJ
^
THE WINDSOR & TECUSISEH ELECTRIC RY. CO.
DETROIT, MONROE & TOLEDO SHORT LINE RY.
v
DETROIT, JACKSON & CHICAGO RY.
^
DETROIT, ALMONT & NORTHERN R. R.
.Blaine
\CliffVd
X
Brown
Atkins
Melvin /
Sarnia
Cyv
PORT
■aAvoca
IjPort Huron
Salt Co.
FostoriaP
\
Burnsp^v
Eramett
Goodland
Wales,
Otter^Kake,
p
^ / Carlton*f|
/
£
£" \
Lamb/"
LA
Ottisville
^--^Attica^K
V\'T v
/?
«.
MartinY\
j
/
Berville^jg^phij,.,/
IdlewildVro
SummervilleVj
st. clairi
The OaklandW
Jfe„.
Metamora
V
1
/trunk
\
*\
\
Flint River Jc.
ASf/t
Mkiu's
Dryden
ia
Vl»r Read
fim
Lapeer>-
%
wtor
^Col. IronWks\,v\\
Lepflard
ArO^EJ,
\
\
»
<>
Da
_CW
W
Knights
1
FLI NT
OtterburnY
>
Grand Blanc
Oo/Swartz Creek
y/Crapo Farm
>•? /
/
.
^L|keside
f Maple Club
if
Buffield
Dtlrand
X
.
8
T.
g Jefferson Beach
*MAnse Creuse
Fenton^
grand
-OVMilk River
■x—V-—
——
\
\Gaines
Linden
g
Xf A
^^Clairview
•esse
Bryon
I
R
/,
Pt.
iOak Grove
LK ERV! LLE
»|^^WJ_NDS°R
^^y^^oMaidstone
Fowlerville
ff OS
SouthJ-yoas
MlR<toir7e\*
Ihkster^
Whitmore Lake
°Iosco
WAYNE
.Sheldon
Pinckney^/V
jSj
Dentons
Gregory
TRENTOMl*
Siocum's Jc.7i
■AH
Stockbridge,
Gibraltar
B'O
Beldena
WaltY
Willis,
Munith
«X Newport J/
Whittaker/*'
saline
Urania
Roots
/
Grafton'
F redoniao
Miiah
rancisco
oVan/Homg
JACKSON
Manchester
Michigan
Center
Dundee'
LAKE
Britton
Tecumsea
Brooklyn
Woodstocl
adrian
—
Blissfield
\
Alexis1
PalmyraT^S^^-^
Jerome,
«\
V|-\
' \^i/.Center
Rw\SA N D WIC H «\A*"
Dearborn
MgjfTOLgPO
(8)
[VOL. 110.
ELECTRIC RAILWAYS
40
Denver Sc Inter-Mountain RR.—Operating Company.
owns all the stock and notes.
The Consolidated Securities & Invest. Co.
Colorado about Oct. 29 1907 as
ORGANIZATION.—Incorporated In
Inter-Mountain Ry., but on April 2 1909 changed name to present title.
Private right of way.
Franchises in Denver and Golden are perpetual.
Has freight traffic agreements with Denver Tramway Co. and arrange¬
ments for
Denver City lines; also contract for
use of Tramway Co.'s tracks in entering Denver.
Fare Increase.—On June 22 1918 filed with the Col. P. U. Comm. a
new tariff providing for a fare increase from 2 Yi cents to 3 cents a mile
and an Increase of 10% in commutation rates
City fares are the same
as for Denver Tramway Co.
Interchange of transfers
STOCK AND BONDS—
on
Outstanding.
Interest.
Date.
Stock, 81,000,000 ($100)
.
$1.000,000
_
1st mtge notes
The notes were issued in lieu oi 5 bOo.OOO
were canceled
and cremated Nov. 1 1917.
Maturity.
—
500,000
>
1938
1st M. 5s due 1938, which
ROAD, &C.—Incl. in Denver Tramway Co.—V.
107,
p.
STOCK AND BONDS—
Interest.
6, & 1. by Des Moines City Int. at Harris,
-
Outstanding.
Maturity.
Forbes & Co., New York, and'
-
Bonds.—Other bonds may
be issued for acquisitions and extensions
at
80% of cost and at not over $16,000 per mile for new road, but only
when net earnings equal 114 times all int. charges on bonds out and those to
be issued.
Bonds are subj. to call at 105 and int.
A sinking fund of 5%
not over
of bal. of annual net earns., after
payment of all charges, became
operative
April 1 1906, and bonds so purchased are to be kept alive for purposes of ths
fund; $31,000 is held in sinking fund,included in amt. outstanding aboveDebentures are red. on any int. date at
101 and int.
31 1919, gross, $967,968; net, after
$1,324,521; net, after taxes, $124,996.
EARNINGS.—For year ending Dec.
taxes, $124,249.
82.
Date.
$1,160,000
Stock. $1,200,000 ($100)
1901
5 g A-0
1.160.000 April 1 1921
1st mortgage, sinking fund.i
gold ($1,000), guaranteed Cont. & Comm. Tr. & Sav. Bk., Chic., Trus.
'. & 1. by Des Moines City
1y
y
c*.ntf
cVntf
Harris Trust & Savings Bank, Chicago.
Debentures, $350,000 ($1,000/ 1913
6 J-J
250,000 Jan 11923
and $500)
ntf (Int. at Harris Tr. & Sav. Bk.. Chic.. Trustee
In 1918.
gross,
ROAD.—Operates 89.06 miles of track (Incl. sidings) connecting Des
Des Moines and Perry, with branch to Woodward,
gauge; 60 and 70-lb. T rail.
17 pass, cars, 4 pass, coaches,
8 electric engines, 5 express, 4 caboose, 181 freight and 17 service cars.
Moines and Colfax,
DERRY, PA.
WESTMORELAND COUNTY
Standard
RAILWAY CO.
Is
ORGANIZATION.—Incorporated in Pennsylvania on Dec. 27 1904.
Derry Street Ry. and the Blairsville &
Derry Street Ry.
a
OFFICERS.—Same
consolidation of the Bradenvllle &
STOCK AND BONDS—
Stock. $500,000 ($50)
First mortgage, $250,000.
($100)
Outstanding.
Interest.
Date.
g]
6,000
See text
Bonds.—No sinking fund and bonds are not subject to call.
Of the
amount reported outstanding $42,100 are held in treasury.
The car trusts mature $600 s.-a., March and Sept. 15.
$6,000 retired.
1915
M-S
EARNINGS.—For years ending Dec. 31:
Cal.Yr. Gross.
Net.
Oth. Inc.
Interest.
1918—
60,094
$22,855
29,895
$775
$11,171
11,875
$1,885
2,978
Misc.Ded. Surplus.
$11,588 def$l ,790
21,191
3,626
ROAD.—Operates 7 miles of track.
>
OFFICERS.—Pres., John E. Potter; V.-Ps., F. Wm. Rudell and J. A.
McComb; Sec. & Treas., H. S. Calvert, all of Pittsburgh; Supt., S. F.
Schwerdt, Derry.—V. 82, p. 50.
DES
MOINES, IOWA.
DES MOINES CITY RAILWAY CO.—A trolley road.
Receivers Appointed.—In Dec. 1918 Judge
Martin A. Wade in the U. S.
Dist. Court, upon the co.'s application, named Homer A. Miller, and Emil
G. Schmidt (Pres.) to act as joint receivers of the co.
V. 107, p. 2376.
On Aug. 18 1919 Judge Wade auth. the receivers to issue receiver's certifs.
$73,611 back pay demanded by striking employees.
V. 109, p.
775, 981.
In March 1911 N. W. Harris of Chicago acquired practically all the
to pay
stock not
previously owned by him of the Des Moines City Ry. Co. and
of its allied corporation,
DETROIT UNITED
the Inter-Urban Ry. Co.
V. 92, p. 794.
ORGANIZATION.—A consolidation In 1893 of the Des Moines St. RR.
Co. and the Des Moines Suburban Ry. Co.
Is authorized to carry freight.
Franchise.—A new 25-year franchise was granted at an election on Nov. 29
1915 which places entire control of service in the hands of a commission
(one member appointed by city and the other by the co.) and provides for
|
RAILWAY.—(See Map page 39.)—Trolley.
ORGANIZATION.—Incorporated In Michigan. Dec. 31 1900 and took
franchises and properties of the Detroit Citizens' Street Ry., the De¬
Wayne & Belie Isle and the Detroit Sub¬
urban. V. 72, p. 44 ,183. Embraces all the street railway lines in Detroit.
over
troit Electric Ry., the Detroit Ft.
the Detroit & Northwestern Ry., which is
Pontiac Ry., known
River Ry., known as the
Wyandotte division, and the Detroit & Flint, formerly the Detroit Roches¬
ter Romeo & Lake Orion Ry., and known as the Flint division.
Owns entire capital stock of the Detroit & Port Huron Shore Line (Rapid
Railway System); Sandwich Windsor & Amherstburg Ry. (acquired in
Aug. 1901); Detroit Monroe & Toledo Short LJne Ry. (acquired in Feb.
1906) and the Detroit Jackson & Chicago Ry.
The last-named is a re¬
organization of the Detroit YpsilantI Ann Arbor & Jackson Ry., the Jack¬
son Ann Arbor & Detroit Ry. and the Detroit Plymouth & Northville Ry.,
which were acquired in Jan. 1907.
Also owns the entire capital stock of
the Detroit Almont & Northern RR., which it leases for 50 years from 1915,
and guarantees and assumes its bonds as a direct obligation, by endorsem't.
In Aug. 1901 purchased 180 shares (all) of the stock of the City Electric
Ry. and the People's Electric Light plant of Windsor, Onl.
Later absorbed
Taxes.
Ry.—V. 74, p. 680.
DETROIT, MICH.
5 g M-S
207,900 Mar 1 1935
at East End Sav. & Tr. Co., Pitts., Trus.
1905
c'jlnt.
for Des Moines City
Maturity.
$500,000
Car trusts
1919...$57,702
as
as
by purchase
the Orchard Lake division, the Detroit &
known as
the Pontiac division, the Wyandotte & Detroit
Franchises.—On May 22 1916, Pres. J. O. Hutchlns wrote:
"Certain of
the franchises in Detroit have expired during the past several years.
These
franchises, which relate to about 15% of the total mileage, have not been
renewed, but the Detroit United Ry. continues to operate these lines In
question as heretofore, having made agreements with the city authorities
for rates of fare (but see remarks below) and extensions of its lines.
These
have created what may be called an indeterminate franchise,
management anticipates will continue in force as heretofore so
the co. furnishes its present efficient service at existing low average
rates."
(See below.) For decisions relating to Fort St. franchise see V. 95,
conditions
which the
long
p.
as
890; V. 96,
p.
947. 1556.
Appraisal of Company's Property.—In Oct. 1915 Prof. Mortimer E. Cooley
a report of his appraisal of the company's property, which f'xed the
value in the one-fare zone on Jan. 1 1915 at $29,714,079, or less deprecia¬
tion, at $23,608,665; physical value of entire system. $48,400,764, with deprec. considered, $43,051,662.
The value of all franchises was placed at
$7,783,481.
Total value of D. U. Ry. system, $56,184,165, or less deprec..
$50,815,063.
V..101. p. 1464.
Compare V. 100, p. 139. 308.
arbitration when the commission cannot agree.
Also provides for 6 tickets
for25cts.. half-fare for children under 12 and 20 tickets for 50 cts. for highschool students.
In June 1918 the sale of 6-for-a-quarter tickets was
filed
suspended for the duration of the war in order to provide for increased
wages of carmen.
V. 106, p. 2559; V. 107, p. 401.
The city, when em¬
powered to do so, may purchase the property On 6 mos.' notice on the basis
of a $5,000,000 valuation as of Aug. 1 1915.
For further details, see
Y. 101, p. 1885.
The franchise also provided for rehabilitation and new
construction, the major portion of which has already been accomplished.
Refinancing.—A new General & Refunding Mtge. was created in 1916
to carry out the terms of the above franchise and provide for future capital
Owners of the $2,202,000 5% Ref. M. bonds of 1901 de¬
expenditures.
posited with the committee formed upon default of int. due Apr. 1 1915
on said bonds (V.
100,p. 1348) were given the opportunity to (1) exchange
certificates of
deposit for new bonds, $ for $, and receive a bonus of 6%
($50) in cash with adjustment of int. in cash or (2) receive payment in full
In cash.
The committee waived all defaults under the Ref. M. (V. 100.
Comm. reopened negotiations
p. 1348) and consented to the discharge of the receiver (V. 101, p. 130).
V. 102, p. 712.
All but $54,000 of the $2,413,000 Ref. M. bonds outstand¬
ing have been acquired and deposited under the Gen. & Ref. Mtge.
Guarantees the Inter-Urban liy. Co. 1st M- bonds, p
& 1.
See below.
Preferred Stock.—On May 15 1918 stockholders voted to increase
capital stock from $3,000,000 common and $250,000. 6%
non-cum. pref. stock to $3,000,000 common and $1,500,000
7% cum. pref.
stock.
The new pref. stock carries the same voting powers as the common
stock and is cum. from May 1 1918 and callable, ail or in part, on any cUv.
date at 107M and divs.
V. 106, p. 2010.
Fares A Wages.—In Feb. 1919 Judge Wade in the Federal Court refused
New
the
auth.
City Purchase Plan Defeated.—V. 101, p. 1553.
Up.—In July 1918 the Detroit Street RR.
with the co. for the purchase of its properties
V. 107, p. 181; V. 108, p. 378. On Feb. 12
city's offer to purchase the system within the
City Purchase Again Brought
upon some
1919 the
agreeable basis.
co.
declined the
V. 108, p. 784.
The co. a few days
the city lease the street railway proper¬
of $2,010,000.
This was rejected by
the city officials and the Street Ry. Comm.
V. 108, p. 878.
On March 10
1919 an agreement was reached between the co. ana the city officials for
the sale of the co.'s properties to the city at a compromise price of $31,500,000.
This agreement providedfor the payment of $15,000,000 in cash,
the remainder to be paid on a partial payment basis.
V. 108, p. 1164.
On April 7 1919, however, this proposition was submitted to the people for
ratification and defeated by a vote of 70,271 to 63,883.
V. 108, p. 1511.
5-cent fare zone for $29,653,936.
later made a counter proposal that
ties of the
co.
at an
annual rental
Report by Engineers to Board of Street Ry. Comm. See V. 106, p. 929.
Proposed Municipal Subway—Report of Street Ry. Comm.—See V. 109
1986.
Compare V. 109, p. 1366.
An election was held in April 1920
people voted in favor of a proposal that the city issue $15,000,
000 bonds, proceeds to be used to construct about 200 fniles of municipa
to auth. the co. s receivers to increase the rate of fare.
The Court held that
street railway lines. V. 110, p. 1526.
Compare Y. 110, p. 464, 764.
if the co.'s earnings are not sufficient to meet the fixed charges
Fare Decisions.—The United States Supreme Court on Dec. 11 1916 up¬
provided for
in the franchise, the service must be
adjusted to the income. V. 108, p. 878.
held the co.'s right to charge extra fares for transporting passengers beyond
At a special election held Sept. 22 1919 a franchise amendment granting the
the old city limits into territory which has since been brought within the
co. a 6-cent fare was voted down and on Oct. 9 1919
Judge Wade ordered
city as at present extended; also held the co. need notseil reduced rate
the wages of the carmen reduced to a maximum of 47 or 50 cents per hour.
"workingmen's hour" tickets in the annexed territory.
In Oct. 1919 .Judge
Wages were 60 cents per hour contingent, however, upon the 6-cent fare
Wiest of the Ingham County Circuit Court upheld the constitutionality of
being granted.
V. 109, p, 1527.
Compare V. 109, p. 2356.
the "interurban fare" bill (made a law in 1919) and ruled that the power
of the Legislature to fix passenger rates is absolute and cannot be exclusively
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
delegated to a commission, municipality or other authority, and hence it
Common, $3,000,000 ($100)—
$1,055,000
can make rates to supersede those fixed in the franchise.
V. 109, p. 1461,
Pref., 7% cum., $1,500,000.-250,000
1527.
On Dec. 24 1919 the Michigan Supreme Court also held that the
Dee Moines City Ry refund
g( 1901
5 g A-O
29.000 April 1 1921
State Legislature had the sole right to determine rates. V. 110, p. 77.
*3-000.000.
goldllnt. at Harris, Forbes & Co., N. Y.; also
Compare V. 109, p. 1700.
($1,000)
c*_ntf{
Harris Tr. & S. Bk.. Chic. Trustee. 111. Tr
Fares.—On Dec. 2 1917 the company began charging a straight 5& Sav. Bk. and Wm. H. Henkle of Chic.
Des Moines City Ry Gen &
cent
fare,
thus abrogating the 7 and 8-tickets-for-25-cts. agreement
1916
5 J-J
4,821,000 Jan
11936
entered into with the city on Aug. 8 1913
Ref M. $15,000,000. gold
(see V. 97, p. 443).
The
Harris Tr. & Savs. Bk., Chicago, Trustee.
($500 and $1,000)
Interest at New York and Chicago.
higher rate of fare applies on all city lines except the Sherman, Four¬
c*—
Debentures ($2,000,000) gold
teenth, Crosstown and Harper lines, where the old rates of 8 for 25c. and
1910
0 8 M-S
1.100.000 Mar 1 1926
6 for 25c. continue under a franchise with 7 years to run.
By way of re¬
($1,000)
c*ntf\Int. at III. Tr. & S. Bk.. Chicago, trustee
Receiver s certificates
prisal, the City Council on Dec. 4 1917 (a) adopted a resolution directing
See text
the company to pay a rental of $10,000 a day for the use of streets on which
Bonds.—$74,000 Gen. & Ref. M. bonds of 1916 are reserved to retire un¬
franchises have expired; (b) rescinded permission to operate skip-stop on
derlying Hens. An additional $762,000 bonds may be Issued for the full
amount expended for construction, reconstruction and rehabilitation, or for
practically all city lines; (c) recalled the resolution under which the co. had
rerouted many lines downtown: id) placed a fund of $35,000 at the disposal
permanent exts., enlargementsaudadds.; remaining $9,343,000 bonds may
of the Municipal Railway Commission to employ engineers to determine
only be Issued for 80% of expend, for perm, exts., enlargements and addns
whether the increase is justified, and (e) instructed the Corporation Counsel
under conservative restrictions.
Bonds are red. on any Int. date at 105
to ascertain whether the co. has any right to operate freight and interurban
Mtse- provides for an annual expenditure, beginning with 1919.
cars within the city of Detroit.
V. 105, p. 2365.
At the beginning of
of 20% of
gross
earnings
for
maint., repairs
and renewals for exts.
and addns, for which no bonds may be issued, or for the purchase or retire¬
Aug. 1918 fares were increased to 6 cents, or 10 tickets for 55 cents.
V.
ment of outstanding bonds.
107, p. 603.
On Aug. 9 1918, however, the Detroit Common Council
V. 102. p. 975.
Of the $2,413,000 reL mtge.
bonds of 1901 outstanding, $2,359,000 have been acquired and deposited
passed an ordinance fixing 5 cts. or 6 rides for 25 cts., with free transfers, as
a reasonable charge on the co.'s lines.
under the gen. & ref. M., of which $235,000 have since been canceled and
A restraining writ was applied for by
the co. but Judge Tuttle in the U. S. Dist. Court refused to hear the plea.
returned to the co., leaving balance of $2,124,000 on deposit under this
The co. appealed to the U. S. Supreme Court and in Sept. 1918 Justice
mtge.
The $54,000 in the hands of the public can be called on any int.
William R. Day rendered a decision denying the co.'s petition for an order
date at 106 and int.
Sink, fund $10,000 yearly on April 1 from 1906 to
to prevent the Citv of Detroit from enforcing its 5-cent fare ordinance.
1910, $15,000 from 1911 to 1915 and $25,000 from 1916 to 1920.
The
V. 107, p. 1192.
debentures of 1916 are callable on any int. date up to and incl. Mar. 1 1921
Compare V. 107, p. 1003.
On Sept. 24 1918 the co.'s
motion for a dissolution of the injunction restraining it from violating the
at 102
and int.; thereafter at 101 and int.
above ordinance was denied by Judge Dingeman in the Circuit Court at
REPORT.—For year ending Dec. 31 1919, gross, $1,856,097; net, after
Detroit.
Y. 107, p. 1287.
On Jan. 13 1919 the United States Supreme
taxes, $226,055.
In 1918, gross, $1,715,337; net after taxes, $293,619.
Court set aside the decisions of the lower courts and upheld the co. in the
ROAD.—Operates 94.18 miles of track.* 35 to 120-lb. rails.
149 pas¬
controversy.
The Supreme Court held that the lower courts erred in not
senger, 30 service cars.
"r ^
hearing the case on its merits.
V. 108, p. 268.
OFFICERS.—Pres., Emil G. Schmidt; Sec., O. H. Bernd; Treas., F. M.
On Aug. 27 1918 was auth. by the I.-S. C. Comm. to increase inter¬
Harris.—V. 107, p. 802, 1287, 2376; V. 108. p. 268, 878; V. 109, p. 775,
urban passenger fares by from 25 to 50%.
The new rate is 2 cents pel
981, 1272, 1461, 1527, 2356; V. 110, p. 561.
mile plus a 5-cent fare in Detroit.
All mileage and reduced tickets will be
eliminated except school tickets and children^ rates.
V. 107, p. 905.
INTER URBAN RAILWAY CO.—A trolley road.
Wage Award by War Labor Board.—V. 107, p. 501, 1977.
ORGANIZATION.—Incorporated in Iowa to construct a system of
On Feb. 6 1917 authorized amount of stock was increased from $12,500
Interurban roads connecting with Dee Moines.
The Des Moines City Ry.
Oo. guarantees the bonds, principal and interest.
000 to $15,000,000 and the $2,500,000 new stock was offered pro rata t
stockholders of record Feb. 16 1917 at par.
The location of Camp Dodge 11 miles outside of Des Moines made it
V. 104. p. 163, 559.
In Mar. 1918 issued $4,500,000 coll. tr. notes to refund $3,500,000 not < s
necessary for the company to provide additional terminal facilities. Doublewhich fell due May 5 1918 and to reimburse the co. for advances made io
tracking of the line to the camp was completed April 1 1918.
Civilians
refund underlying bonds and for capital>xpenditqfes.
V. 106, p. 1126.
pay 35 cents and soldiers 15 cents on this line.
—
p.
at which the
Apr., 1920.]
ELECTRIC
STOCK AND BONDS—
Stock
Interest.
Outstanding.
Maturity.
Q-M
$15,000,000 June'20, 2%
1902
4HgJ-J
14.605.000 Jan.
11932
c*cpt( Guaranty Trust Co., N. Y., Trustee.
Int.
I
at Agency Bank of Montreal.
$4,500,000/ 1918
7 g A-0 1
4,500.000 April 1 1923
c*.tflCentral Tr. Co..N.Y..trustee. Int. in N.Y.
Date.
gold ($1,000)_
trust
($1,000)
notes
gold
Stock listed on the N. Y., Montreal Detroit and Cleve. Stock Exchanges.
Bonds.—Of the $25,000,000 first consolidated mortgage bonds authorized.
$7,055,000 are reserved to retire underlying liens and $3,340,000 are held
in treasury.
Callable at 105 and int. on any int. date on 60 days' notice.
See V. 73, p. 1111; V. 103, p. 320.
Listed on N. Y. Stock Exchange. The
coll. trust notes are secured by a deposit of $9,000,000 par val. of stocks and
bonds of constituent companies.
No additional Detroit United Ry. 434 %
cons. M. bonds can be issued except for refunding purposes, nor can the
constituent companies, whose shares are pledged under these notes, increase
their bonded debt while any of these notes remain outstanding.
Notes are
red. as a whole or in amounts of not less than $500,000 on 30 days' notice at
101 and int. to April 1 1922; thereafter at 10034 and int.
V. 106, p. 1126.
.
Detroit
Electric.
Interest.
Date.
Outstanding.
Maturity.
Detroit Ry 1st M. g ($1,000)J 1895
5 g J-D
$1,400,000
1920-1924
on 56.34 miles
c*&rllnterest at Cleveland Tr. Co., Trustee.
Bonds.—First mortgage bonds of the Detroit Ry. numbered 1 to 600 ma¬
ture in
beginning Dec. 1 1912;
601 and above mature Dec. 1 1924; $400,000 have been retired.
order
numbers
of numbers at $50,000
Detroit
1st
(2)
Slo,000.000 ($100)
1st consolmtge. $25,000,000, f
Coll
RAILWAYS
mtge,
gold,
per
Isle.
$1,200,000 April 1 1927
c*&r/New York Trust Co., Trustee.
Subject to
(
call at 105 and int. on 60 days' notice.
$1,000)
Interest at Kean. Taylor & Co.. New York.
Detroit
Northwestern
&
Interest.
Date.
1st mtge, $1,000,000,
($100, $1,000)
gold/ 1901
4H g M-N
Maturity
$855,000 May 1 1921
& L. by Detroit United Ry. by end. and are sub¬
See V. 73, p. 494.
Detroit & Pontlac Ry.
Sand.Winds. & Amh. is owned by Det. Un.
that the Ontario Hydro-Electric Power
1
1920, in the interests of 9 border municipalities in Canada.
V. 110, p. 1643.
Commission had taken
f 1897
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock, $350,000 ($100)
$297,000
Consol Mtge. gold. $600.0001 1902
4^gJ-D
600.000 Dec 1 1922
gold ($1,000)
c*/National Trust Co., Ltd., Toronto, Trustee.
Wind & Tec El, $300,000,1 1907
5 g M-S 2
189,000 Sept 2 1927
gold ($1,000) gu p & i.-C"*/National Trust Co., Ltd.. Toronto, Trustee.
Bonds.—S. W. & Amh. bonds are subj. to call after Dec. 1 1912 at 105.
$110,000 of the bonds were in the Detroit United Ry. treasury Dec 311919.
Windsor & Tecum, bonds are guar., p. & I., by Sand. Windsor & Amherstb.
Ry.
They are redeemable since Sept. 2 1917 at 105 and int. on 60 days'!
notice.
Interest on both mortgages Is payable at company's office.
ROAD.—Operates 45.3118 miles of track in and between Windsor,Walkerville, Sandwich and Amherstberg. including City Rv. of Windsor (2.52
miles), operated under lease.—V. 109, p. 1274, 1610, 1793, 1893, 1987,
2263; V. 110, p. 464, 1643.
(3)
The Detroit & Flint Ry. was organized to acquire the
Romeo & Lake Orion, together with the Nor. Det. Elec.
Utlca & Romeo Ry.
The consol. M. Is
a
Detroit Rochester
Ry. and the Det.
1st lien on these last two prop'ties.
L)ate.
Interest.
Outstanding.
Maturity.
1900
5 g J-D
$1,100,000 June 1 1920
sinking fund, gold ($1,000),/Int. at Cont. & Comm. Tr. & Sav. Bank,
$1,500,000; unissued bondsl
Chicago, Trustee; also Guaranty Trust Co.
have been canceled
c*l
New York.
Detroit & Flint 1st consol M.f 1901
5 g F-A
1,400,000 Aug 1 1921
g, $3,000 000 ($l,000)--c+llnt. at Tr. Co. of America. N
Y., Trustee.
D
R. R & L O
Ry 1st mtge.f
consolidated
mtge., $1,100,000 are reserved to retire
bonds of like amount of the D. R. R. & Lake O. Ry. and $500,000 have been
canceled.
Consolidated bonds are subject to call at 100 and interest
Bonds.—Of
the
on 60 days' notice.
Both Issues are guaranteed by the Detroit United
Ry.; see form of guaranty in V. 76, p. 1300; as "additional collateral
security" on the Flint bonds 1st consol. 434% bonds of the Detroit United
are deposited; 5 for $, with the Guaranty Trust Co. of New York, and would
be available in the event of default on the Detroit & Flint bonds.
REPORT.—Annual report for 1919 was in V.
Bonds.—Interest is
Gross earnings.
Operating
Net
expenses
from oper.
$4,890,510
Inc. from other sources.
546,406
earns,
Inc. from all
1916.
payable In New York.
No sinking fund and bonds
not subject to call.
ROAD.—Operates 50 miles of road from Toledo to Detroit and 4 miles of
road from Monroe to Lake Erie; completed Nov. 5 1904.
At Toledo con¬
nection is made with the Lake Shore Electric Ry. for Cleveland.
Is of
steam road construction, on private right of way; standard gauge, laid with
70-lb. T rails.
Total track, 82.8393 miles.
V. 107, p. 82; V. 108, p. 480
(4)
Detroit Jackson & Chicago Ry.
ORGANIZATION.—A holding co. organized In Mich. In
over the Det. Ypsil. Ann Arbor &
$4,168,149
411,737
$4,255,679
449,735
1907 by Detroit
Jack. Ry., the
Jack. Ann Arbor & Det. Ry. and the Det. Plym. & Northvllle Ry., paying
therefor $1,230,000.
Entire stock owned by Detroit United Ry.
Fares.—On Mar. 21 1919 Judge Hosmer in the Circuit Court at Detroit
on the co.'s lines between Detroit and Jackson reduced to the
ordered fares
basis of about 134 cents per mile. V. 108, p. 1274.
The $60,000
Ypsilanti & Saline 1st M. 6s which matured July 1 1919 were retired on
that date, $60,000 of the co.'s 1st consol.
pre-war
n|tge. 5s being issued in connection
therewith.
STOCK AND BONDS—
Date.
Interest.
($100)
First consol mtge,
$4,000,000] 1907
Maturity.
Outstanding.
$614,000
5 g F-A
2,060,000
Feb 1 1937
($1,000), gold
c*\lnt. at Security Trust Co., Detroit. Trustee.
1st cons M Det Y A Ar&Jack[ 1901
5 g F-A
1,610,000
Feb 1 1920
$2,600,000($500.$l,000)gc*\Int. at Detroit Trust Co., Detroit, Trustee.
Det Yps & Ann Ar cons 1st Ml
1899
0 g F-A
330,000
Feb 1 1924
$1,000,000, g ($500 & $1,4Int. at Union Trust Co., Detroit, Trustee.
000) sinking fund annually f
The Det. Yps. & Ann Arbor & Jackson first consols cannot be called.
Of the amount reported outstanding, $46,500 were in the Detroit United
Treasury on Dec. 31
1919.
bonds.—Bonds of Det. Jack. & Chic, are subject to call on any Interest
Guar., p. & L, by the Detroit United Rys.; enough
reserved to retire bonded debt of the Det. Yps. Ann Arbor & Jack.
day at 105 and int.
bonds
are
Ry. V. 85, p. 345. Of the amount reported outstanding, $1,174,000 were
on Dec. 31
1919 in the Detroit United treasury.
ROAD.—Completed and in operation from Detroit (through Wayne and
Ypsilanti) to Ann Arbor and to Jackson: making mileage 100 miles, of which
Total track, 110.5168 miles.
Rails
Does a freight business.—V. 108, p. 1274.
40 miles over private right of way.
70 and 75-lb. T girder.
Michigan.
which
owns
General
Railroad
Laws
of
Is leased for 50 years from 1915 to the Detroit United Ry.,
its entire capital stock.
Date.
Interest.
Outstanding.
Maturity.
gold, $2,500,000/ 1915
6 g F-A
$400,000 Feb 1 1940
c* tf\Int. at Union Tr. Co., Detroit, Trus., & N.Y
The bonds are guar, and assumed as a direct obligation, by endorsement,
by the Detroit United Ry., which, in the event of any new issue of refund¬
ing or general mortgage bonds being placed on the Det. Un. Ry. or its sub¬
sidiaries, will reserve sufficient new bonds for the retirement of the above
Issue at maturity.
Red. on and after Fety. 1 1925 at 103 and int.
Re¬
maining bonds to bear rate of interest n fixed by the directors when Issued
but not to exceed 6%.
ROAD.—Extends from Romeo, through Almont to Imlay City, about
20 miles; built on private right of way; 70-lb. rails.—V. 101, p. 130.
BONDS—
394,374,451 319,843,176 356,208,429 335,599,802
122,422,145 103,608,353 119,962,125 119,899,335
$24,683,038 $19,014,018 $17,427,940 $16,036,669
19,792,528
14,758,339
13,259,791
11,215,802
passengers
Date.
(5) Detroit Almont & Northern RR.
ORGANIZATION.—Organized under the
1917.
1918.
1919.
Revenue passengers
on Dec. 11 1902.
acquired by Det. Unit. Ry. V. 82, p, 392.
Interest.
Outstanding.
Maturity.
Stock. $3.000,000
$2,581,000
1st
mortgage,
$3,000,000,1 1903
5 g J-J
3,000,000 Jan 1 1933
gold ($1,000)
c*/Union Trust Co., Detroit, Trustee.
110, p. 760.
Detroit United Ry., Rapid Ry. Sys., Sandw. Wind. & Amherstb, Ry.,
Det. Monroe & Tol. Sh. Line Ry. and Det. Jack. & Chic.
Transfer
was
STOCK AND BONDS—
Stock
Flint Railway.
&
Detroit Monroe 5c Toledo Short Line Ry.
ORGANIZATION.—Incorporated in Michigan
In Feb. 1906 entire stock
(Interest at People's State Bank, Detroit.
1st con mtge, gold ($1,000),f 1901
434 g J-D
600.000 June 1 1926
$1,100,000
c*&r|Int. at Washington Tr. Co , N. Y.. Trustee.
Bonds.—$500,000 consolidated mtge. 434% bonds are reserved to retire
like amount of 1st mtge. bonds.
Bonds are subject to call at 105 and Inter¬
est on 60 days' notice after June 1 1911.
Principal and interest of both
issues guaranteed by Detroit United by endorsement.
Detroit
the company's line for operation on April
over
United Interests to take
5 g F-A
$500,000 Feb 1 1922
c*{Washington Trust Co., N. Y., Trustee.
($1,000)
5c Amherstberg Ry.—Trolley.
capital stock ($100,000) of the Windsor & Tecum-
■eh Electric Ry. Entire stock of
It was reported in April 1920
ject to call at 105 and int. on 60 days' notice.
lit mortgage, $500,000, gold
Owns entire
we
Ry.
Outstanding.
c*llnterest at union Trust Co., Detroit, Trust.
Bonds.—Are guar., p.
Sandwich Windsor
ORGANIZATION.—Incorporated under special charter from Province
of Ontario.
annum,
Wayne & Belle
1898
5 g A-O
Fort
$1,200,000/
41
$4,820,867
351,335
$5,436,916
$4,579,886
$5,172,202
$4,705,414
Interest and taxes
$2,868,250
$2,610,830
$2,404,355
$2,291,410
Dividends
(8%) 1,200,000 (8) 1,200,000(7%) 1118750(6%)843,750
Deprecia'n charged off..
600,000
600,000
800,000
800,000
Reserve for taxes.
200,000
150,000
150,000
Reserve for contingencies
150,000
sources..
First
mtge,
($1,000 & $500)
-
Total deductions
-
Surplus income
-
$5,018,250
$418,666
$4,473,106
$106,781
$4,560,830
$144,584
DIVIDENDS.—First dividend of 1% on Detroit United stock was paid
1 1901 and 1% quarterly thereafter until Aug. 1 1905. when rate
was raised to 1 X% quarterly.
On Nov. 1 1905 !)£%•
In 1906 5%.
In
March
March, 1917, I%%.
DIXON,
$3,935,160
$1,237,042
ILLINOIS NORTHERN
ILL.
UTILITIES CO.
Controlled by the Middle West Utilities Co., which see
&
Industrial
In our "Railway
Section."
ORGANIZATION.—Organized under the laws of Illinois July 31 1910
as a consolidation of the Illinois Northern Utilities Co.
(incorp. in April
1912), Tri-County Light & Power Co. (V. 97, p. 669), and the Freeport
Railway & Light Co. (see this Section for May 1916).
V. 103, p. 496.
Operates gas and electric properties in the western half of the northern
Illinois adjoining the territory served by the Public Service Corp.
Also operates street railways in Sterling and Dixon and
track, 18.51 miles, and
9 miles of track in Freeport.
Franchises in Freeport expire March 1 1923.
Has traffic arrangement for 50 years with the Rockford & Interurban Ry.
part of
In June 1917 to and incl. June 1920,2%.
of Northern Illinois.
ROAD.—On Dec. 311919 operated 928.3966 miles of track, as follow*
Detroit United, including Wyandotte & Detroit River Ry., Detroit &
Northwestern, Detroit & Pontiac, Detroit & Flint, 544.7286 miles; Detroit &
Port Huron Shore Line, 142.5927 miles; Sandwich Windsor & Amherstburg
Ry.,45.2371 miles; Detroit Monroe & Toledo Short Line, 84.4872 miles, De¬
Ry.. Ill .3510 miles. Rails,77.85and 98-lb. steel,.
Does an express service.
Has 1,895 passenger cars, 284 freight and con¬
struction cars, 38 line cars, 104 express cars, 21 miscellaneous cars, 4 loco¬
motives, 4,880 motors and 3,806 trucks. There are 7 power houses, with
a combined capacity of 61,172 h. p., 2 storage batteries, with a combined
capacity of 4,500 amperes and 19 sub-stations with a combined capacity of
21,950 k. w.
troit Jackson & Chicago
OFFICERS.—Chairman of the
Bd., J. C. Hutchins, Detroit; Pres. &
Moore, Cleveland, and
Edwards, Detroit; Sec..
A. E. Peters, Detroit; Asst. Sec., Miss Emma Heise; Gen. Aud., Irwin
Fullerton.
General offices, Interurban Bldg., Detroit.—V. 109, p. 1366,
1461, 1527, 1700, 1986, 2262; V. 110, p. 77, 167, 464, 658, 760, 764, 1289,
Gen. Mgr., F. W. Brooks, Detroit; V.-Ps., E. W.
A. J. Ferguson, Montreal; V.-P. & Treas., Allen F.
1526.
i
ma
g.) Detroit & Port Huron Shorenow owned by the Detroit United
ntire outstanding capital stock is
Line Ry.—A trolley road.
Ry.
ORGANIZATION.—Incorporated in May 1900.
Is a consolidation of
the Rapid Railway Co., the Detroit Mt. Clemens & Marine City Ry. (the
purchaser of the properties of the Mt. Clemens & Lakeside Traction Co. and
the Detroit & River St. Clair Ry.), the Port Huron St. Clair & Marine City
Ry., the Connors Creek & Clinton River Plank Road Co. and the City
Electric Ry. of Port Huron.
The new company owns the capital stock of
each road.
The consolidated company operates all the tracks in Mt. Clem¬
ens and Port Huron, and the through route from Detroit to Port Huron
running through Mt. Clemens. New Baltimore. Algonac. Marine City and
St. Clair.
Also owns the capital stock ($25,000) of the Detroit & Lake
St. Clair Ry.
STOCK AND BONDS—
Date.
Stock, $2,500,000 ($100)-i
1st mtge, $2,500,000 ($1,000)
cannot be called. gold.c'&r
Interest.
Outstanding.
$2,000,000
Maturity
5 g J-J
2,497.000 Jan
Union Trust Co., Detroit, Trustee.
1900
1
1950
(Int. at American Exch. Nat. Bank, N. Y.
Bonds.—Remaining $3,000 1st M. bonds are set aside to retire the bonds
of the Port Huron St. Clair & MarineOitv Ry.
V. 98. p. 1693: V. 99. o.119
ROAD.—Total Det. & Port Huron System. 138.2268 miles.
EARNINGS.—Now included Unreport of Detroit United Ry.—V. 77, P*
34; V• 84, p. 338.
»
an
interurban line between the two cities, total 1st
Co.. allowing cars of that company t,o enter Freeport.
In July
1918 was auth. by the Illinois P. U. Comm. to
1st or ref. M. 5%
bonds and $112,000 7% collateral notes.
1920 all of the bonds but none of the notes had been
Date.
STOCK AND BONDS—
Common
Interest.
stock
First
pref stock 6% cum
Second preferred stock
First and ref M gold.-___.tf 1912
Underlying Bonds—
De Kalb County Gas
Sterling Gas & Electric
Q-F
5 g A-O
issue $150,000
Up to April 1
issued.
Outstanding.
$4,635,000
Maturity,
__________
2,757,800 Feb. 20,1)4
250,000 .—-----4.855,000 Apr 1 1957
5%
5%
199,500
249,500
82,800
Miscellaneous Issues.
;——
—
—- —
5 g M-N
281,000
See text
$350,000 g ($1.000)
c*\Cont. & Comm. Tr. & Sav. Bk.. Chic., trus.
Freep Ry & Lt mtge $2,000.-/ 1910
5 M-N
140,000 Nov 1 1935
000 g ($100, $500 & $1,000) lint, at Cont. & Comm. Tr. & 8. B..Ch.,trus.
Stock.—In addition to amounts reported outstanding, $365,000 common
and $192,000 first preferred stock are In treasury.
Bonds.—The 1st & ref. M. bonds of 1912 are red. at 105.
Additional
amounts may be Issued (a) $952,800
to refund underlying bonds, (6) in
exchange, par for par, for mortgage debt existing at time of acquisition or
properties acquired in the future; (c) for expenditures made in acquiring
Future property to extent of 75% of cost thereof.
V. 94, p. 1383; V. 95,
Freeport Ry Lt & P 1st mtgef
D
1903
1123
Int.
on
F. R. L. & P. bonds is payable at offices of
Cont. & Comm. Trust
Chicago.
Are subj. to call by lot at 105 & int.; $69,000 have
Maturity of bonds is as follows: $5,000 due May 1 in each of
the years 1910, 1912 and 1913 and $5,000 annually from 1915 to 1921 incl.,
the remainder in 1922.
Of the Freep. Ry. & Lt. bonds, $350,000 are
reserved for prior liens.
They are subject to call at 102 34 on 30 days'
notice from 1915.
Sinking fund began In 1915; may be used for impts., &c.
& Sav. Bank,
been retired.
^'Dividends.—On
pref., 1 H% quar. paid Nov. 1912 to and incl. Feb. 1920.
EARNINGS.—Of Illinois Northern Utilities Co. and Sterling, Dixon &
for 5 mos. ending Dec. 31 1916 (see report In V. 104,
Eastern Electric Ry.
p.
2231):
Gross, $536,157; net. $227,638: interest, rentals, &c.. $123,054;
pref. divs., $42,240; surplus,
$63,344.
No later statement published.
Samuel Insull; V.-P., E. D. Alexander; Sec. &
Gulick; Asst. Se*. & Asst. Treas., O. E. McCormick; Aud.
L. E. Jacobson.—V. 104. p. 223i: V. 106, p. 1036, 1132, 1582, 2757.
OFFICERS—Pres..
Treas.. John H.
ELECTRIC
PA.
DOYLESTOWN,
PHILADELPHIA & EASTON
ELECTRIC RY. CO.—A trolley roaa.
Receivership.—On April 5 1912 Judge Ryan in Bucks County Court ap¬
pointed A. H. Sickler (Pree. of Co.) and Godfrey Schmidheiser of Phila.
receivers.
V. 94, p. 699. 1057.
'
'
ORGANIZATION.—Organized in 1907 as successor to the Philadelphia
& Easton Ry. (formerly the Doylestown & Easton Street Ry.), sold at
trustee's sale May 31 1907.
,
STOCK AND
Interest.
Dale.
BONDS—
/Outstanding.
.
Maturity.
Common. $26^,000 (150)
5258.800
Pref, $365,000, 5% non-cum353,800
1st M. $1,000,000 ($1,000. f 1907
5 g M-S
911,000 Sept 1 1927
$500 and $100), gold.__c*lInt. at Glrard Trust Co., Phila., Trustee.
Stock.—Preferred shares have no voting power.
Bonds.—Not sub. to call and no sink.fd. Int.was4% to Sept,'11; now 5%.
REPORT.—For calendar years (1919 report in V. 110, p.
Gross
Net {after
Int. & Pref.Divs.
Common
EARNINGS.—For
$37,745.
year ending Dec. 31
1919,
In 1918, gross, $129,682; net, $31,549.
gross,
$150,433;
cars.
■
V.-P., Amos Johnson; Sec
Rush, Lancaster.—V. 85, p..
OFFICERS.—Pres.. A, II. Sickler, Phila.;
W. 8. Chambers, Doylestown; Treas., H. G.
470-
V. 94.
p,
699. 1057.
■
DU
BOIS,
PA.
DU BOIS ELECTRIC & TRACTION CO.—In Nov. 1916 control was
acquired by the Keystone Utilities Co., which see under Scranton, Pa.
ORGANIZATION.—Incorp. In New Jersey on Nov. 18 1901
ican Town Light Co. and name
changed later
as
above.
as
the Amer¬
Owns all of the
•tock of the Du Bois Elec. Co. and the Du Bols Trac. Co.
V. 76, p. 972.
Franchises fdr both street railway and electric-lighting are perpetual and
exclusive.
STOCK AND
Dale.
BONDS—
Interest.
trust
mtge,
($500), gold
Outstanding.
Maturity.
—$292,500
i
$300.000( 1902
5 g M-N
280,500 May 1 1932
lint, at Columbia Trust Co., N. Y., Trustee.
Stock, $300,000 ($100)
Coliat
-
Bonds.—No sinking fund, but subject to call at any time at 105 and Int.
EARNINGS.—For years ending Dec. 31:
Calendar Years—Gross.
Exp. & Taxes.
Net.
Interest.
Surplus.
1918
$163,638
$137,265
$26,373
$14,590
$11,783
1917
149,945
112,240
37,705
14,025
23,680
OFFICERS—Pres.. Daniel J. Dalley; V.-P., E. T. Hartigan; Sec. &
Treas., John Marsman.—V. 89, p. 1667; V. 103, p. 2340.
Balance,
Earnings. Deprec.)
Taxes.
(4%).
Dividends.
Sur.or Def.
1919...$1,959,436 $386,322 $281,554 $60,000
sur.$44,768
1918-—$1,686,485 $392,803 $273,746 $60,000 (3%)$105,000 def.$45,943
In 1919 carried 38,475,440 revenue passengers and 6,408,086 transfer
Years.
against 33,088,747 revenue passengers and 5,728,778 transfer
passengers,
passengers in 1918.
ROAD.—The system embraces about 104.09 miles of track and includes
all the lines in Duluth and Superior.
153 passenger and 22 other cars.
OFFICERS.—Chairman of the Board, A. E. Ames; Pres., A. M. Robert¬
V.-P., Edmund Zacher; V.-P. & Gen. Mgr., Herbert Warren; Sec. &
Treas., S. L. Reichert; Aud., W. P. Dwyer.—V. 107, p. 2476; V. 108, p.
son;
1060; V. 110, p. 871.
EAST
net,
ROAD.—Operates 32 miles of road between Doylestown and Easton
Operates 8
871):
Calendar
—
-
[Vol. 110.
RAILWAYS
LIVERPOOL,
OHIO.
BEAVER VALLEY TRAC¬
STEUBENVILLE EAST LIVERPOOL &
TION CO.
ORGANIZATION.—Incorp. In Ohio and Penna. on Nov. 1 1917 as a
of the East Liverpool Trac. & Lt. Co., the Steubenville & East
Liverpool Ry. & Lt. Co. and the Ohio River Passenger Ry.
For history
of merged companies see this Section for January 1918.
Fare Increase.—In Jan. 1919 the I.-S. C. Comm. auth. a single-trip fare
of 10 cents and a commutation fare of 14 rides for $1 between East Liver¬
pool, O., and Chester, W. Va.f and dismissed a complaint against these
rates.
V. 108, p. 481.
merger
STOCK AND BONDS—-
Date.
Interest.
Outstanding.
Maturity.
$2,000,000
2.600,000
gold? 1917
5 g M-N
1,600,000 Nov 1 1947
($1,000)
cunt, at Comm'l Trust Co., Phila.. Trustee
Bonds — Redeemable at 105 and int. after Nov. 1 1922.
$117,000 of
the bonds reported outstanding are held in the treasury.
EARNINGS.—For year ending Dec. 31 1919, gross, $840,600; net, after
taxes, $72,636.
In 1918, gross, $770,767; net, after taxes, $113,311.
ROAD.—Owns and operates 100.69 miles of track between Vanport, Pa.,
and Steubenville, O., and in Steubenville, East Liverpool and Weilsville,
O., and Chester, W. Va.
Also operates in intervening towns, and operates
a through line between Steubenville and Beaver, Pa.
80 cars.
I
OFFICERS.—Pres., C. A. Smith, Chester, W. Va.; Gen. Mgr., R. J.
McElravy, Chester, W. Va.; Sec. & Treas., Geo. H, Faulk, East Liverpool.
—V. 108, p. 481; V. 109. p. 1186.
Common. $2,000,000 ($100)..
Pref 5% cum$2,600,000
First mtge $3,000,000,
($100)
EASTON, PA.
NORTHAMPTON
DUBUQUE, IOWA.
DUBUQUE
ELECTRIC
CO.
ORGANIZATION.-—Organized in Delaware June 3 1916 and acquired
the Union Electric Co., of Dubuque, (see "Elec.Ry." Section for May 1916).
Does the entire electric lighting, power and street railway business in Du¬
buque and vicinity.
III.
Also sells power
Owns East Dubuque Elec. Co.. serving East Dubuque
to the Eastern
Iowa Light & Power Co., serving 8
communities within easy transmission distance of Dubuque.
Strike.—See V. 110, p. 1526.
.
STOCK
AND BONDS—
Interest.
Date.
Com stock $2,000,000 ($100).
Pref 6% cum $2,000,0001 $100)
Outstanding.
Maturity
$6X2.000
800.000
See text
2,468.000 June 1 1925
...
....
1st M $6,000,000 ($500 & $1
Q-M
5 J-D
1916
000) red at 101 & int onllut
at
Chicago
or
New
Y >rk. Central
60 days' notice
.cptt
Trust Co., of Illinois. Trustee.
Stock.—Pref. stock Is callable at 110 and divs. and has equal voting power
with common.
V. 103, p. 410.
Bonds.—Secured by an absolute first and only mortgage on all the co's
properties, rights and franchises.
Add'l bonds may be issued for only 80%
of cost of permanent add'us and
impts. and then only when net earns, for
preceding 12 months have been at least IK times the Int. on bonds out¬
standing and those to be Issued.
Sinking fund from June 1 1917, 10% of
!;ross earns., either top. 410.
mpts., &c.
V, 103. purchase bonds or call them at 101 and int.,or for
Dividends
pref. stock have been paid regularly from date of organizat'n.
Earnings—Year ending—
July 31 1919. Mar. 31 1918. Mar. 31 1917.
Gro.se
$709,532
$641,725
$614,401
Net. after taxes......
192,306
203,530
224,466
on
Latest
Earnings .—For cal. year 1919 (railway department only), gross,
$321,489; net, after taxes, $34,852.
In 1918, gross, $250,579; net, after
taxes, $20,919.
PROPERTY.—Power station with 9,500 k. w. generating
capacity:
about 220 miles of transmission and distributing lines; 20.7 miles of track
in city an<l suburbs, substantially all 70-lb. rail; 90 cars.
OFFICERS.—Pres.. I. O. Ktafon. Jr.. Chicago: V.-P
IT. B Maynard.
Dubuque, la.; Gen. Mgr., O. II. Simonds.—V. 103,p. 410; V. 110, p. 1526.
.
STOCK AND BONDS—
Stock, $500,000
DULUTH-SUPERIOR
MINN.
TRACTION.—Trolley.
ORGANIZATION.—Incorporated in Connecticut in 1897.
Owns entire
•tock of the Duluth Street Ry.. the Lakeside Street Ry. and the Superior
Rapid Transit.
The corporate existence of the Duluth Street Ry. is main¬
tained, but all of Its stock ($2,000,000 authorized. $1,800,000 outstanding)
Is held by the Duluth-Superlor Traction.
This latter company has no
bonded debt.
Tile Duluth Street Ry. was organized under Act of Minne¬
sota approved Nov. 17 1881 and possesses "an exclusive franchise" which
runs
until
1931.
See
decision
with
regard
franchises in Superior
in V. 80, p. 1911.
On Dec. 18 1918 the company surrendered its franchise
to operate in Superior: the system now being operated on the indeterminate
permit basis under which the State, instead of city officials, has jurisdiction
over the company.
V. 107. p. 2476.
On Sept. 1 1917 the Duluth St. Ry.
acquired the 3 J^-mile line of the Park Point Trac. Co. of Duluth, Minn.
V.
105, p. 180.
The Duluth-Superior Bridge between Duluth, Minn., and Su-
bridge items. V. 63.
p.
310. 504.
Franchise Decision.—On May 23 1914 Judge Cant In the State District
Court handed down a decision favorable to the company In the suit brought
by the city of Duluth to cancel the franchise granted to the Duluth Street
Ry. on Nov. 17 1881 (V. 98, p. 1694), and this decision was affirmed by the
Minnesota Supreme Court,
on
Jan. 29 1915.
V. 100.
p.
473.
Municipal Ownership Voted Down.—On April 1 1919 a proposition that
city purchase the co's. system was defeated by a vote of nearly two to
the
one.
Fares.—On Jan. 1 1918 reduced fares on Morgan Park line from 10c. to 5c.
On Sept. 16 1918 the Duluth Street Ry. applied to the Duluth City Council
for an increase in street car fares.
V. 107, p. 1192.
Up to Sept. 1 1919
hearing on this matter had been held.
Decision.—Ou June 12 1916 the Wise. RR. Coram, rescinded its order
of Nov. 1912 requiring the Duluth St. Ry. to establish a rate of 6 tickets
for 25c. on its Superior lines, in addition to the 5-cent cash fare in force.
Interest.
Maturity.
..J-.-.
Outstanding.
$500,000
5 g J-J
349.500 Jan
1 1933
Northampton Tr. Co.(Gaston), Trus.
6%
437.000
Jao
11942
Northampton
EARNINGS.—Earnings of Northampton Trac. Co. (incl. in 1918 but not
Dec. 31:
Surplus.
1919
;>_■
-$153,717
$21,634
1918
226,883
72,579
26,950
45,629
ROAD.—Operates 33 H miles of track from Easton to Tatamy, Nazareth,
Bangor and Portland, chiefly on private right-of-way.
Standard gauge,
65. 70 and 80-lb- steel rail.
OFFICERS — Pres.. DaWd King; Treas.
Wm
L
Doyle; Gen. Mgr..
W. O. Hay.—V. 102, p. 345; V. 109, p. 1527, 1891, 2074.
|
in 1919, the Northampton-East. & Wash. Trac.) for years ending
Cal. Year—
Gross.
Net,aft.Tax.
Charges.
-----
Northampton-Easton <Sir Washington Traction Co.
Receivership —In Nov. 1919 William L. Doyle, of Easton, Pa., was ap¬
pointed receiver for the co.
V. 109, p. 1987, 2440.
Foreclosure Proceedings.—The Bankers Trust Co., N. Y., has filed a suit
to foreclose the mtge, securing the $539,000 5% bonds of 1910, because of
default of the int. due Nov. 1
A
1919.
V. 109, p. 1987.
committee
to protect the interests of the 1st mtge. bondholders has
Depository: Penna. Co. for Insce. on Lives & Granting
Annuities, Phila., Pa.
V. 109, p. 1987.
been
formed.
ORGANIZATION.—Incorp. In 1910 In New Jersey and is controlled
by the Northampton Trac. Co. (see above).
Fare Increase.—On Mar. 111918 the Board of P. U. Comm. auth. the
to increase its fares from 5 to 6 cents,
to 7 cents was authorized.
STOCK AND BONDS—
.
$500. $1,000)
Refund
&
consul
$1.000.000
s
and in Dec.
1918
a
Date.
...
Interest.
Outstanding.
$1,250,000
—
1910
I
Trust
Co.,
1950
York, Trustee.
200.000 Jan. 1 1942
Co.,
New
5%
Trust
Maturity,
539.000 May
5%
f c*tflBankers
mortgage/ 1912
.1 Easton
co.
further increase
V. 106, p. 1127; V. 107, p. 2188.
Stock $1,250,000 ($100).
1st
M
(closed)
g
(S100.J
as
—see
Date.
($50)-.
Bonds.—A sink, fund of 10% of net earns, is nowoper. on
Trac. 1st M bonds, but bonds cannot be called.
to
issued 1st Mtge.
Eerior, Wis., is used bonds forrailway but is 2d separate corporation, ana
by the $650,000 and a Mtge. bonds for $300,000
CO.
First mortgage $400,000
\ 1903
gold
_c*tf f Int. at
Ref & cons mtge
1912
11)
DULUTH,
TRACTION
Receivership.—On Nov. 6 1919 Chester Snyder, of Easton, was appointed
receiver for the co. upon application of the Northampton Trust Co.,
trustee for the holders of the 1st Mtge. 5% bonds.
V. 109, p. 1891.
Committee for 1st Mtge. 5s.—Theodore Lewis, Charles L. Seri'ill, C. S.
Newhall, Jay Gates; Sec'y. W. B. Reed, 517 Chestnut St., Phila., Pa.
Depository; Penna. Co. for Insurances on Lives & Granting Annuities,
Phila., Pa.
Deposits have been called for.
V. 109, p. 2074.
ORGANIZATION.—Incorp. in Peun. uct. 6 1902 as a consolidation of
the Easton & Nazareth Ry. knel Easton Tatamy & Bangor Street Ry.
Owns practically all the stock ($1,250,000) of the Northampton Easton &
Washington Trac. Co. (see that company below).
Franchises perpetual.
In the latter part of 1915 absorbed the Bangor & Portland Ry. operating
8X miles between the points named, and issued $137,000 additional ref. &
cons, bonds to effect the merger.
V. 102, p. 345.
Rates.—In Sept. 1918 increased local fares from 6 cents to 7 cents.
Advances were also made in freight rates.
V. 107, p. 1004.
Strike.—On Oct. 14 1919 service on the entire system was suspended on
account of a strike.
Full schedule was resumed on Oct. 29 1919, the com¬
pany employing all new men.
Compare V. 109, p. 1527.
Trustee.
Bonds.—Northamp.-Easfc. & Wash. Trac. bonds are callable. In whole or
part, from May 1
1915 until 1925 at 110; thereafter until 1935 at
107H: thereafter until maturity at 105 and Int.
Mtge. la closed.
Sink,
fund 1% annually of avge. amount of all bonds out from 1915 to 1925: 1X %
to
1940 and 2% thereafter.
Bonds are unconditionally guar., p. <fe L.
by Northampton Trac. Co. (V. 92. p. 726).
Int. payable in N. Y. City.
There are deposited to secure the Northamp.-East. & Wash. 1st M. 5s
the following bonds of the Northampton Traction Co.: $44,000 1st M„
$100,000 2d M. (entire issue) and $81,500 gen. M. (entire issue).
ROAD.—17 miles of track from Phlllipsburg, N. J., to Washington, N.J.
—V. 105, p. 1802; V. 102, p. 1127; V. 107, p. 604, 2188; V. 109, p. 1987,
in
2440.
no
STOCK
AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Common, $3,500,000 ($100)
Q-J
$3,500,000 Oct.'18. l%
Pref 4% cum.$1.500,000($l00)
Q-J
1,500,000 Apr.'20,1%
Duluth St RyM, $2,500,000,/ 1900
5 g M&N
2,500.000 May 1 1930
gold ($1,000)
c*tfllnt. at Cent. Trust Co., N. Y., Trustee.
Dul St Ry gen M
$2,500.000.f 1910
5 M-N
1.272,000 May 1 1930
Sold ($1,000) sk fd.-c*cpt\lnfc.listedCentralY. Stock Exch. V. 90, p. 848.
at op N. Tr. Co.. N. Y.. Trustee.
tock.—Both
and pref. are
com.
Bonds.—The mtge. of 1900 covers all the mileage of the Duluth Street Ry.
the property of the Lakeside St. Ry. and of the Superior Rapid Transit
having first been conveyed to the Duluth St. Ry.
The gen. mtge. bonds are
subj. to call on any int. day at 105 and int. $272,000 are held in treasury and
$169,000 have been canceled.
Remaining bonds may be issued for addi¬
tions. extensions. &c., under conservative restrictions.
They are guar..
E. & L,out Duluth-Superior Trac. Co. Sinkingpersonal 2tax%in Minnesota.
by began May 1913. Exempt from fund of H per annum of
onds
V. 90, p. 1296; V. 91. p. 276; V. 92. p. 186; V. 104,
p. 1044.
Dvoidenas.—On the pref. stock 4% p. a. Is being paid.
On com., 1st div.
-Oct. 1909.
Same amount quar. to and incl. July 1910;
in Oct.
1910, IX %.
Same amount quar. to and Incl. April 1913.
In July 1913
reduced to 1% (V. 96, p. 1772); same amount
quair. to and Incl. Jan. 1915.
April div. omitted (V. 100, p. 900); payments changed to semi-annual
basis and a dvv. of 1% paid July 1915 (V. 100.
p. 1437)
None to Oct. I
1917, when 1% was paid.
Same rate quarterly to and incl. Oct. 1 1918.
None since.
EAST
ST.
LOUIS, ILL.
LOUIS & SUBURBAN CO.
REORGANIZATION, &G.—As per plan In "Chronicle" of Dec. 20
1913. p. 1822. this company was incorporated Jan
7 1914 In Delaware to
THE EAST ST.
succeed the old East St. Louis & Suburban Co. of N
J.In Oct. 1914 auth.
capital of the latter was reduced from $14*.000,000 to $1,000,000, consisting
of $60,000 pref. stock and $940,000 com. stock.
See V. 100, p. 474.
Owns all the outstanding capita! stocks (with the exception of directors'
shares) and bonds as stated of the following companies.
The amounts
Eledged Suburban St. Louis Union Trust Co. as collateral for the East St
ouis vfc with the Co. coll.
bonds
also showo.
trust
are
Stock—
—
Owned.
East St. L. & Sub. Ry. Co_.$3,850,000
East St. Louis Ry Co-1,889,700
—Bonds
——
Pledged.
Owned.
Pledged.
$3,824,300 $4,000,000 $3,834,000
1.805.600
1.889,000
1.799,000
St. L.AE. St. L El. Ry.Oo.
St. L. & Bellev. EI. Ry. Co
500.000
499.500
East 8t. L. Lt. & Power Co..
1,100,000
3,189,000
733,000
Alton Gran. & St. L. Tr. Co.
do
10-year notes
Alton Gas A
do
Electric Co
10-year notes
500,000
750.000
500,000
750,000
274.000
100,000
-IIIIIII
599,000
'90,000
These companies own and operate all electric
railway lines lnl East St.
and interurban lines to Belleville. Edwardsville, Collinsville, Caseyville, O'Fallon. Maryville, Lebanon, Brooklyn, Venice. Madi¬
son, Granite City and Alton, and the only electric line across the Eads
Bridge, connecting East St. Louis with St. Louts.
Cars are operated over
this bridge under a 50-year exclusive contract expiring In 1952.
Through
Louis and Alton
„
APR.. 1920. |
arrangement with
ELECTRIC
Illinois
Traction Co. the interurbau
cars
from Alton
RAILWAYS
are
5s at, not less than 92and $125,000 1st
pref. stock and $200,000 2d pref-
into their terminal in St. Louts.
Also do entire electric lighting aud
power business in East St. Louis and the electric, gas and steam heating
business in Alton.
A large coal business is also carried on
run
stock
railway, electric light and power franchises expire in 1948; the Alton gas
and steam-heating franchises are perpetual; Granite
City and Madison
franchises expire in 1925; Venice in 1920; Brooklyn in 1921.
The interurban
line to Alton, outside of city limits, is nearly all on private right of way.
County franchises covering remaining suburban lines expire from 1920 to
1948.
Electric light and power franchise in East St. Louis expires 2007.
Wage Award by War Labor Board.—V. 107,
p.
695; V. 109,
676, 887.
p.
auth. to increase fares from 5 to 7 cents on its lines in Granite City ana
Alton.
V. 106, p. 2561.
A 7-cent fare was inaugurated on the
was
connecting
In Sept.
line between these two points on Aug. 9 1918.
V. 107, p. 695.
1918 the A. G. C. & St. L. Trac. Co. was auth. to charge 23^
cents per
mile plus Missouri River bridge fares.
The co.'s application had called
for 3 cents per mile.
V. 107, p. 1192. Effective Nov. 10 1918, was auth.
by the 111. P. S. Comm. to charge 3 cents per mile on interurban lines.
V. 107, p. 1837.
|
In June 1918 the East St. L. & Sub. Ry. applied to the 111. P. U. Comm.
for auth. to charge a 7-cent fare with a 1-cent charge for transfers and to
raise fares between St. Louis and East St. Louis from 10 t*> 12 cents.
In
Sept. 1918 the I.-S. C. Comm. auth. the co. to increase fares from 10 cents
to 11 cents between St. Louis and East St.
Louis, 111., and neaiby points in
V. 107, p. 1192. In July 1918 was auth. by the 111. 1
U. Coramcharge 2 cents per mile for ticket fares and 3 cents per mile for cash fares,
V. 107. p. 401. Auth. to charge a 6-cent fare in East St. Louis was granted
by the Comm., effective Aug. 10 1918, pending another hearing on the
7-cent fare. V. 107, p. 695.
Illinois.
.
to
Interest Payments.—The interest due Feb. 1 1919 on the A. G. & St. L.
Trac. Co. 1st consol 5s was paid in Aug. 1919.
The interest due Aug. 1
1919
was
paid Feb. 1 1920.
Financing.—On Dec. 28 1918 the holders of the $2,094,000 5-yr. 6%
conv. bonds, due Jan. 1 1919, were offered the privilege of exchanging their
holdings of said issue for new 7% conv. bonds, dated Jan. 1 1919 and due
Jan. 1 1921, similar in other respects to the 5-yr. 6s, at a cash discount of
1%. V. 108, p. 77. Under date of Mar. 21 1919 we were informed that a
large percentage had been so exchanged and we have therefore eliminated
the old issue from the following table.
In Sept. 1919 applied to the 111. P. U. Comm. for auth. to reissue notes to
pay off part of the co's. original debt in the amount of $400,000.
V. 109,
p. 981.
W"
'
.
Date.
Common. $10,000,000 ($100;.
First pref, 6% cum,
5%
$6,000,000
Interest.
Outstanding.
6.000,000
...
Qap
($100)
Maturity.
f pvt
6.000.000
Feb~'i8~H%
cum,.
Convert
bonds
7 J-J
1919
$3,000,000
2,094,000
Jan 1 1921
($100, $500 & $l,000).c*tfIPenna.Co.for Ins. on L. & Gr.Ann.,Phila.,tr
Collateral trust mortgage $8.1902
6 g A-O
8.000,000 April l 1932
000.000 gold (Sl.GOO).c* tf Interest at St. Louis Union Tr Co., Trustee.
or at E. "W. Clark & Co., Philadelphia.
E St L & Sub Ry impt debsl
1916
5 J-D
45,000
See text
$111,000 ($1,000)
c*.tfl|Int. at office of company in East St. Louis
A G & St Louis Trac Co 1st (1904
5 g F-A
2,500,000 Aug
1 1944
consol M, $3,000,000 gold-! Int. at Illinois 8tate Tr. Co., East St. Louis,
($1,000)
_.c»tf I
Trustee, or at National City Bank, N. Y
Alton Ry & Ilium first rntgo\ 1895
5 g A-O
250,000 Oct. 1 1939
$250,000 g ($1.000)--c*tf/Int. at Bankers Tr. Co.. N. Y., trustee
Alton Ry Gas & Electric Co( 1899
5 g A-O
250.000 Oct. 1 1939
mtge
$500,000
($1,000)(Int. at Equitable Tr. Co.. N. Y., trustee.
gold (closed)
c^ntfi
No sinking fund; bonds cannot be called.
East St L Lt & Pow 1st
Mf 1910
5g J-D
1,092,000 June 1 1940
g, guar p & I ($1,000) c*tf( Int. at Mercantile Tr.Co., St. Louis, Trustee,
[
Chase Nat. Bk., N. Y., and at co.'s office.
.
Stock.—The 5% cum. pref. may be exchanged at any time for 50% of
6% cum. pref. and 50% com. stock.
The 6% pref. takes precedence both
to
as
dividends
and assets
over
97, p. 1822; V. 98. p. 304, 155.
the 5% pref. and the common stock.
Remaining $4,©00.600
common
V.
stock
re¬
served for conversion of 5% pref. stock and convertible bonds.
Bonds.—Coll.
on
an
trust
bonds
4 week's notice.
equal
are
redeemable
See V. 76, p. 382.
of 6%
amount
cum.
int. date at 110 a id Int.
upon 99 days' notice.
The Alton Ry. & Ilium. 1st
M. 6s originally matured Oct. 1 1915, but were extended to October 1
1939.
East St. Louis Light &
Power bonds are guaranteed, princi¬
pal and interest, by end., by East St. Louis & Sub. Co.; callable at 105 and
int.
any int. date on 30 days' notice.
Auth. issue unlimited, but addi¬
are issuable only for
80% of the cost of add'ns and imp'ts, and
only when net earnings are at least m times int. charge on bonds
on
tional bonds
then
out as well as those to be issued.
Feb.
1918.
None since.
1919
--..$4,258,919
4,215,887
$778,666
912,570
$825,424
813,289
def.$46,758
...
sur.
99.281
ROAD, &c.—Operates 190 miles
of single-track,
of which 4 miles
operated under lease.
Has 182 passenger cars, 4 express cars, 829 freight
cars, 21 work cars and 3 snow sweepers. 2 electric and 2 steam locomotives.
Passengers carried in 1918, revenue, 40,398,847; transfer and others, 7,831,805; in 1917, revenue, 40,818,319; transfer and others, 8,236,295.
Has 2 power stations with 15,600 k.w. capacity. Has 95 miles of high-tension
transmission lines.
Also has contracts for power with Mississippi River
^ower Co. and Union Elec. Light & Power Co.
OFFICERS.—Pres., O. M. Clark; V.-P., H. L. Clark; Sec., G. L. EstaGregory; Asst. Sec., O. A. Pearson Jr.
Under the
brook; Treas., T. W.
management |of E. W. Clark & Co. Mgt. Corp., Phila.—V. 107, p. 603,
695, 1003, 1192, 1837; V. 108. p. 77. 784; V. 109, p. 171, 676, 887, 981.
ELMIRA, N. Y.
ELWIRA
WATER,
LIGHT &
RAILROAD CO.—Controlled
United Gas & Elec. Co.—See United Gas & Elec
by
the
Corporation under N. Y.
ORGANIZATION.—Incorp. In New York May 26 1900
as a
consolida¬
tion of all the water, lighting, power and street railway
jproperties in Elmira.
Own entire cap. stock of Roriek's Glen Park Assn. ana majority of stock of
West "Water St. RR.
The latter co. operated under 999-yr. leases. In April
1913 it was stated that all franchises have at least 72 years to run, while
some of them are perpetual.
In Feb. 1910 was auth. to acquire all stock
of Montour Falls Electric Light Co.
In Sent. 1914 absorbed the West Side
RR., all of whose stock was owned.
V. 99. p 815.
On Mar. 17 1914 the stockholders authorized the creation of $3,000,000
7% cum. first pref. stock.
In 1915 sold the water supply system to the city of Elmira for $1,500,000.
the proceeds, together with tne proceeds from the saie of $232,000 5% cons.
M. bonds, being used to retire the $1,661,000 5% bonds due Jan. 1 1949.
which were called for payment at 105 and int. on July 1 1915. Y.100 p. 1692.
In June 1916 the P. 8. Comm. auth. (a) the absorption of the Elmira
Transmission Co. and the Elmira & Seneca Lake Trac. Co. all of whose
stocks and bonds were owned, and <&) the Issuance of $100,000 1st cons. M
$1,000,000
Date.
Interest,
($100).,
1st pf, $3,000,000 (7% cum)..
2d pref 6% cum $1,200,000-..
197
7
yjas Paid, the annual rate being 5%, payable quar. instead of semi-anni.
(y. 99, p. 60S).
Same rate quar. since to Dec. 1919.
On com., 1st div.—
1%7-paid Oct. 1910. In 1911, 1912 & 1913, 4%. In 1914, Oct., 2%;. In
1915, Jan., 2%; April, 1%; July, 1%.
In June 1916 paid 2% for 6mos. end.
mos. end. June 30 1916.
Sept. 1916 paid 1%; Dec. 1916, 2%; Sept. 1917. 1%; none since.
pec. 31 1915 (declared In Dec. 1915) and 2% for 6
In
ROAD,&c.—Comprises 48,214 m.of single track in Elmira and connecting
the suburban towns of Elmira
Heights, Southport and Horseheads. from
Horseheads to Watkins (via Millport and Montour Falls), to Seneca Lake.
Has 90 passenger and 18 other cars.
75 to 110-lb. T and girder rails.
Owns ltorick's Glen Park and
Maple Ave. Driving Park.
Gas Department.-—Has 74.5 miles of natural
gas mains.
Electric Dept.—Two 5,250 k.w. turbines and four 750
h.p. boilers.
Old
Power station has 4.250 k.w. capacity, with new 823 h.p. boiler and three
800 k.w. step-up transformers; total
capacity 16,400 k.w.
Electric dept.
serves Elmira, Ehnira
Ilts., Southport, Wellsburg, Chemung, Big Flats,
Horseheads, Pine Valley, Millport, Montour Falls and Odessa; sells power
to
Corning
& Bow. Corp. and the Elmira Corning & Waverly Ry.
198
EARNINGS.—
_
1919
Gross
Year—
______
19]g
—
Net
(after
Taxes).
$500,366
Earnings.
---$1,567,016
Fixed
Charges
$248,157
Surplus for
Renew.,&c.
$252,209
1,399,559
457,951
247,060
210,891
1,201,302
-
489,867
234.592
255.275
OFFICERS.—Pres., E. G. Connette; V.-P., Geo. Bullock; 2d V.-P. &
Gen. Mgr., F. TI. Hill; Sec. & Treas., C. A. Kolstad; Asst.
Sec., J. A. McKenna; Asst. Treas., A. L, Linn Jr.—V. 107, p. 805.
EL
PASO,
TEXAS.
EL PASO ELECTRIC CO.—Incorporated iu New Jersey and owns the
securities of the EI Paso Elec. Ry. Co.. El Paso & Juarez Trac. Co. and Rio
Grande Valley Traction Co., which do the entire electric railway, electric
lighting and
power business in El Paso, Tex., and Juarez. Mex., and oper¬
an
electric railway between El Paso and Ysleta.
Franchises in K1
Paso expire in 1951 and 1952.
Railway franchise in Juarez expires In 1988.
Interurban almost entirely on private right-of-way.
In 1909 increased
pref. from $500,000 to $1,000,000.
authorized amount of
839.
p.
$525,000
STOCK
V. 90, p.
109.
In Mar. 1914 increased
stock from $2,000,000 to $3,000,000. V. 98,
stock is owned by Pub. Service Investment Co.
com.
com.
AND BONDS—
Interest.
Date.
Common. $3,000,000 ($100)Pref $1,000,000 6% n-e ($100)
Q-M
Outstanding
Maturity.
$2,914,100 Mar.'20 2H
6 J-J
1,000,000 July'19.3%
(close!) $1,000,0001 1902
5 g J-J
1,000,000
Jan 11932
($1,000) gold. —..ctf lint at State St. Trust Co., Boston, trustee.
3-year gold notes $1,000,0001 1917
6 g F-A
300,000 Aug 1 1930
....
Coll tr M
($100, $500, $1.000) __c*&r (Int. at State Street Trust Co., Boston, trust.
Stock.—$216,300 of the pref. stock reported
as
outstanding, is in treasury.
Bonds.—Collateral trust bonds cannot be called and no sinking fund.
The notes are callable as a whole at 100 and int. on any int. day on 30 days'
notice. * They
were issued to provide for additions and improvements.
Dividends.—First div., 3%, on pref. stock, was paid Jan. 12 1903, and
3%, paid s.-an. since.
On com., 1st div., 2%, Mar. 1910; Sept., 2; in 1911
5%; in 1912, Mar., 3%>; Sept.. 3H%; In 1913, Mar., 3^%; In June 1913
began to pay quar. dlvs. and paid 2%: also Sept., 2%; Dec., 2%; Mar. 1914
to Sept. 1915, 2\i% quar.; Dec. 1915 to Mar. 1920, 2H% quarterly.
EARNINGS.—Of combined companies for 12 months ending Dec. 31:
Year—
Gross.
Net(after Tax).
Interest.
Sink.Fund
Surplus
1919
..--$1,574,676
$452,413
$91,367
$361,046
1,257,633
387,322
79,694
307,629
-----
ROAD.—51.5 miles of equivalent single track; standard gauge.
86 pass.
6 trailers and 6 other cars.
Power station has capacity of 10,700 k.w.
OFFICERS.—Pres., Marshall M. Phinney; V.-P., Joseph
Treas., Henry B. Sawyer; Sec., Geo. A. Peirce; Gen. Mgrs.,
Webster Mgt. Assn.—V. 105, p. 497; V. 106. p. 395. 2010.
j
Reraick;
Stone &
—
ERIE, PA.
NORTHWESTERN ELECTRIC SERVICE CO. OF PENNSYLV k
ORGANIZATION.—Incorp. Feb. 29 1916 in Penn. for the purpo
developing the light and power business adjacent to the Northwestern Penn
Ry. Co.'s lines.
Leases for 99 years from 1916 the property of the Peoples
Incandescent Light Co.
Wholesale power Is furnished to the Northwestern Pennsylvania Ry. Co.
for the operation of its entire lines; to a local company for distribution at
Albion, Springboro and Conneautville; to the Conneaut Lake Co. and to a
local distributor for the Borough of Conneaut Lake and territory on east
side of lake.
Has a contract for wholesale power service to the Borough of
Girard.
,
,
Authorized.
Capitalization—
$1,500,000
stock
Issued.
None
Second preferred stock, 6% non-cumulative
500,000
"
First preferred stock, 7% cumulative.
500,000
$206,500
An additional $100,000 of first pref. stock has been authorized by direc¬
tors to be issued and sold, the proceeds to be used in payment for properties
purchased and extensions and betterments.
$20,000 has been subscribed
and paid, for making $226,500 outstanding.
_•
■
tfJNf
1
w
"
-
jji
EARNINGS of operating companies for 12 months ending Dec. 31:
Year—
Gross.
Net,aft.Tax. Int., &c. Prcf.Divs.
Sur.orDef.
1918
1st
Outstanding
Maturity
$1,000,000 Sept 17, 1%
Q-M
i.400,000 Mar'20, \ %
5 Q M
1,200,00ft Mar '20, 1M
1st con mortgage $5,000,000i
1906
5 g MS
4.107,000 Sept 1 1956
($1,000)• ;
...wi-gc*tf [Interest at New York Trust Co., Trustee.
Stock.—First pref. is red. at option of co. at 115 and div.
7
Dividends.—On 1st pref.. 1 %% quarterly is being paid.
On 2d pref..
2H% paid seml-ann. from Sept. 1907 to and luci. Mar. 1914.
On July 1
1914 1 2-3% was paid, covering four months, and in Oct. 1914 div. of
\\i%
Oommou
Common
Dividends.—5% per annum was paid quarterly on old pref. from Its issue
May 1 1906 up to and including Feb. 1914.
On new pref. 1st dlv.—1 M %—
was paid May 1914; Aug.,
Nov., 1 H%.
In 1915, Feb., l^%:lo
May rate was reduced to % % (V. 100, p. 1437); same rate quarterly to and
incl.
AND BONDS—
cars,
on
any int. day at 105 and
The conv. 7s are convertible
pref. stock and in addition 33 1-3%
in common stock.
The East St. Louis & Sub. Ry. improvement deben¬
tures mature $10,000 each June and Dec. to Dec. 1921.
$105,000 have
been issued, of which $60,000 have been retired.
$500,000 of the Alton
Granite & St. Louis Traction first consols are reserved for prior liens.
They are also a lien on property of Alton Gas & Electric Co., which was
owned by the Alton Granite & St. Louis Traction Co., when the mtge.
was made.
$566,000 of the bonds have been assumed by the Alton Gas
& Electric Co.
No sinking funds, but bonds are subject to call on any
Int.
into
STOCK
ate
STOCK AND BONDS—
Preferred
.
at par. to pay
floating debt., tor construction, Ac.
1917 the P. S. Comm. auth. the co. to issue $450,000 additional
M. 5s to provide for the construction of a
gas plant.
In
consol.
Franchises in East St. Louis, Edwardsville, CoIlin.svill« and Belleville
expire in 1947, 1948 and 1952; Lebanon and O'Fallon in 1922.
The Alton
Fares.—In Dec. 1917 the Alton Granite & St. Louis Trac. Co.iapplied to
the I.-S. C. Comm. for permission to increase its round trip fare from Alton
to St. Louis from 90c. to SI.
In June 1918 the A. G. & St. L. Trac. Co.
13
■**-most*'.
■
■
"fwOaL
PROPERTY.—50 miles of 33,000 volt transmission line between Erie
Harmonsburg. Pa., with a branch between Erie and Kearsarge, Pa.
and
Venango, Cambridge Springs, Edinboro,
Girard, Linesville and Harmonsburg, all in
'
zJ
Distribution lines in Saegertown,
McKean,
Fairview,
North
Erie and Crawford counties, Pa.
OFFICERS.—Pres., F. F. Curtze; V.-Pres. & Gen. Mgr., Chas.
Hatch; Treas., A. A. Culbertson; Sec., A. O. Chapin.—V. 105. p. 499.
M.
NORTHWESTERN PENNSYLVANIA RY.
Receivership.—On Jan. 20 1919 Chas. M. Hatch was appointed receiver
application of Erie Trust Co., Erie, Pa.
Foreclosure Sale—Reorganization Plan, &c.—On Dec. 27 1919 the prop¬
erty was sold at public auction to F. F. Curtze under the mortgage securing
the Erie (Northern) Division bonds.
This sale is subject to the first mtge.
(Southern Division) bonds dated 1911 and due 1941, which are not in any
wav affected by the foreclosure.
These bonds have been in default since
March 1 1918.
The purchaser, it is said, will reorganize th ecompany.
V. 110, p. 167.
Compare V. 109, p. 2172 and 2263.
We understand that
two separate companies will be organized.
One will bear the same name as
the present company, and the other will be known as the Crawford County
Railways Co.
The latter will be the property upon which the 1st 5s, due
1941, are secured.
This property will be operated under lease by the new
Northwestern Pennsylvania Railway Co.
Financing—Plan Fails.—The offer of the Northwestern Electric Service
Co., of Penn., to exchange Its common stock at par for Railway common
stock at 30% of par, and1 to exchange Service Co. common stock for Railway
.
for the company, on
Eref. stock, par for par, accept same. The directors of of a Service Co.
;allway stockholders to was withdrawn through failure the majority of
have been
continued
as
directors of the Railway Co., thereby effecting joint
operation.
The offer of the Service Co. to exchange its 6% non-cum. 2a
pref. stock at par for the Railway Co.'s 2d mtge. bonds was also rejected.
ORGANIZATION.—Incorporated
successor
in Pennsylvania in
March 1911 a»
187 (a hold¬
of the Meadville& Conneaut Lake Trac. Co., V. 92, p.
ing company), and its controlled company, the Meadville Trac. Co. (V. 92,
p. 262), taking over the entire capital stock of the Meadville Conneaut Lake
k Linesville St. Ry. ($300,000); Crawford & Erie Ry. ($350,000), People's
Incandescent Light Co. ($145,000) and Oak Park Oo. ($20,000).
Fran¬
chises in Meadville expire in 1944.
Interurban franchise perpetual. Affords
connection for Penn. RR. System with Meadville at Linesville.
In the latter part of 1912 purchased the Erie Traction Oo. and the Mead
ville & Cambridge Springs Street Ry.
Franchises.—There are 23 franchises, of which 16 are perpetual, 3 for 99
and the shortest does not expire until 1937.
Sale of Collateral.—Default having occurred in the payment of the $165,000 coll. trust notes due March 1 1919, the trustee for this issue in July 1919
|
pledged thereunder to the noteholders' protective
committee, G. W. York, of Otis & Co., Cleveland, Chairman.
Fare Decision.—On Sept. 19 1919 the Penn. P. S. Comm. dismissed the
complaints filed by the city of Meadville and Leon F. Markham against
the 7-cent fare rate of the company.
For details see V. 109, p. 1273.
sold the §200,000 bonds
1st
Bonds.—Of the first mortgage of
$750,000
& Sav. Bk.,
see text
6 J-D
$300,000/ 1918
IMercantile-Comm'l Bank. Evans v., trustee.
31 1919.
10 years,
103 during
3d 10 years.
provided for
The gen. mtge.
and only when
Bonds.-—$45,000 of the 1st Mtge. bonds had been issued to Dec.
Sink.I fund of $2,500 per annum starts in 1929 and continues for
and thereafter the sk. fd. retires $5,000 per annum.
Callable at
the 1st 10 years; 102 during the 2d 10 years, and 101 during the
Should no 1st Mtge. bonds be issued, then the sinking fund
their retirement
income
& Ref. bonds.
exceed 5% per annum
will be applied to the 1st
bonds draw int. at not to
Int. not cumulative.
Notes.—In addition to the amount
earned.
been issued and
are
reported outstanding,
$97,100 have
held in the treasury.
incl.
1919
EARNINGS.—Of Evansville Railways Co. for cal. year
(not
Hend. Trac. and Owensboro City RR.), gross, $407,685; net,-after taxes,
reserved to retire
prior liens, remaining bonds are for improvements, extensions and acquisi¬
tions under certain restrictions.
Tax-exempt in Pennsylvania.
Subject
to call on any interest date at 105 and Interest.
Annual sinking fund
of 1% of bonds out began Nov. 1 1914.
Bonds retired to be kept alive.
V. 92, p. 1033, 1436.
Of the $1,500,000 1st M. Erie Div. bonds, $500,000
are reserved to retire the Erie Trac. bonds and $550,000 for extensions and
198
743,800 Jan 11949
Evansville, trustee.^
743,400 Jan 1 1949
r (Mercantile Comm 1 Bk., Evans v., trustee.
Coilat trust notes
callable at par.
Erie, trustee.
1911, $150,000 are
„
at 10234 on any int. date.-IAm. Tr.
General Mtge Income bonds/ 1919
$1,000,000
500,000
First
mortgage
$1,250,000? 1911
5 g M-S
650.000 Mch 1 1941
gold ($1,000)
c*tf\Int. at Central Trust Co., N. Y., trustee.
People's Incandescent Light/ 1900
5%
150.000 Dec 1 1920
Co 1st mtge
_tf\Dela. Co. Tr. Safe Dep. & Title In8.Co.,trus.
1st M (Erie Div) $1,500,000 tf 1912
5 J-D
250,000 Sept 1 1947
2d M (Erie Div) $305,000..tf 1912
See text
305,000 Sept 1 1947
ErieTrac (Erie Div) $500,000/31907
5 g J-J
500,000 July 1 1929
gold
c*tf I Int. at Secur. Sav. & Tr. Co., Erie, Trustee.
Oollat trust notes $165,000/ 1913
6 M-S
165,000 Mar 1 1919
($100, $500, $1,000).. .ctf\Int. at the Sec. Sav. & Tr. Co.. Erie, Trus.
Equipment notes $60 000
J 1917
6 F-A
40,000 See text
Trust Co.,
($100)—
,6%
M $200,000 sk fd gold
/ 1919. 6 J-J
\Cont. & Comm. Tr. &
& Ref $1,200,000 callable/ 1919
5 J-J
1st
Common $1,000,000 ($50)
Pref $500,000 ($50) 5% non-c
iErie
($100)—
Pref. $500,000 n-cum
Maturity.
Outstanding.
Interest.
Date.
STOCK AND BONDS—
Outstanding. Maturity.
$300,000
200,000 ---------See text Jan 11949
S. Bk., Chic., trustee.
Interest.
Date.
STOCK AND BONDS.—
Common $1,000,000
years,
197
[Vol. 110.
ELECTRIC RAILWAYS
44
in treasury.
Sink, fund, 1% annually, com¬
Int. at Erie Trust Co., Erie, trustee.
The 2d M.
$118,534.
In 1918, gross, $330,743; net, after taxes, $67,955.
ROAD.—Operates between Mt. Vernon, Evansville, Henderson, Rich¬
land and Grandview.
Operates 70.68 miles of track, of which 56 miles
are owned in fee, 7.22 miles are leased, 7.46 miles trackage rights.
Has
4.32 miles of sidings; total mileage 75 miles.
70-lb. T-rail. Gauge 4
834 inches.
™
OFFICERS.—Chairman, A. F. Ilarges; Pres., W. H. McCurdy; V^P.,
W
A. Koch: V.-P. & Gen. Mgr., W. A. Carson; Sec. & Treas., C. H. Battin.—V. 108, p. 378.
ft.
betterments and $200,000 are
menced
April
1917.
bonds bear 2% int. the first year, advancing 1%
Colonial Trust Co., Pittsburgh, trustee.
The
yearly to 5%. Int. J.-D. at
Erie Traction bonds have a
sinking fund of $20 for every $1,000 first mtge. bond, which began July 1
1917 (denom. $1,000, $5,000 and $10,000).
The collateral trust notes are
secured by deposit of $200,000 purchase-money mortgage bonds.
They
originally matured on March 1 1918, but were extended for one year.
See
above under "Sale of Collateral."
The equipment notes mature $10,000
yearJy Aug. 1 1918 to 1923.
track in Meadville, 15.7 miles between
2-mile extension to Conneaut Lak e
40.2 miles between Meadville and Erie.
Sidings, 3.1 miles.
Total
track, 69.4 miles.
Gauge, 4 ft. 834 in70 and 85-Ib. girder and T rail.
46 cars (passenger 28, freight and express, 9, work 2, 1 snow-plow, 2 snowROAD.—Operates 10.3 miles of
Meadville and Linesville, Including a
and
sweepers),
ending Dec. 31:
Net
Interest, &c. Sink.
Earnings.
Taxes,
Fund,
$76,260
$104,466
$21,500
66,131'
120,110
19,417
59,327
116,304
19,000
EARNINGS.—For years
Gross
Calendar
Year—
1919
Surplus or
Deficit.
Earnings.
$411,528
380,693
348,337
def .$49.706
1918..
def. 73,396
def. 75,977
OFFICERS.—Pres., F. F. Curtze; V.-P. & Gen. Mgr., Charles M.
Hatch: Sec., A. O. Chapin; Treas., A. A. Culbertson.
General office,
Erie, Pa.—V. 105, p. 499: t. 109, p. 1273, 2172, 2263; V. 110, p. 167.
escanaba,
mich.
ESCANABA TRACTION CO.
ORGANIZATION.—Reorganization In Aug. 1909 of Escanaba Electric
St. Ry. and Escanaba Power Co.
Controls the Escanaba Pulp & Paper
Co.
Does electric light and power business in Escanaba, Gladstone and
Wells, Mich.
Is allowed to carry freight.
Maturity.
$200,000
500,000
1st & ref mtge $600,000 goldl 1909
6 J-J
540.000
See text
($1,000)
_c*_CDt jlnt/at First Sav. & Trust Co., Milwaukee.
Second mtge, $200,000 gold/ 1909
5 g A-O
200,000 Jan. 1 1934
($100 & $1,000) -c*&r_cpt{Michigan Trust Co., Grand Rapids, Trustee.
Red. at 103 and interest
lint, at First Trust Co., Milwaukee.
Bonds.—1st & ref. bonds mature $10,000 annually
from 1914 to 1933,
Inch, remainder In 1934.
$60,000 have been retired.
They are subject to
call at 103 and int. on any int. date.
Michigan Trust Co., Grand Rapids,
Date.
STOCK AND BONDS—
Interest.
(1) Henderson Traction.—Street railway.
Acquired by Evansville Rys. (succeeded in 1919
1913. V. 96, p. 1488.
ORGANIZATION.—Incorp. in Kentucky Feb. 22 1907 as a successor
Henderson City Ry., sold at foreclosure on Feb. 18 1907.
franchise
originally extended to 1936.
In 1918, however, a new 20-year
was granted the co. which provides for a 7-cent cash fare or 4 tickets
to the
franchise
for
25 cents.
Date.
Interest.
Outstanding.
Maturity.
($100)
$149,800 ---------$150,000/ 1907
5 g A-O
105,000 Apr. 15 1927
($1,000, $500, $100) gold tf (Int. at Ohio Bkg. & Trust Co., Henderson.Tr
Bonds.—$133,000 bonds issued but $28,000 beld in treasury.
Remaining
$17,000 are reserved for extensions and improvements.
Subject to call on
April 15 1922 at 105.
No sinking fund.
EARNINGS.—For:cal. year 1919, gross, $44,831; net, $4,502; in 1918,
gross, $39,735; net, $9,014.
ROAD.—Operates 6 miles of street railway.
V. 90, p. 1363.
STOCK AND BONDS—
8tock, $150,000
(2) Owensboro City Railroad.—Street railway.
Acquired by Evansville Rys. (succeeded in 1919
1913.
V. 96, p. 1488.
rustee.
V.
92,
p.
1564: V. 103, p. 406.
Dec. 31:
*()th. Inc.
$10,000
1917
183,251
98,631
5,000
1916
142,141
77,023
18.614
♦Earnings from Escanaba Pulp & Paper Co.
EARNINGS.—For
years
ending
Net.
Gross.
$56,518
$174,421
ROAD.—Owns and operates street
Interest.
Surplus.
$36,589
38,097
38,857
$29,929
ORGANIZATION.—Chartered in 1886.
Franchise runs till 1936 and
gives exclusive rights to operate street railway In said city.
Arrangements were made in Nov. 1917 through which the holders of the
$200,000 6% Gen, Mtge. bonds will forego their interest for the next three
years, the $36,000 so saved to be used in improving the system.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Common, $75,000 (par $50)
$75.000f.p. -------1st
mtge.,
$200,000, goldl 1902
5 g J-J
200,000 Jan. 11932
($1,000), c&r, not red., tf/Interest at Louisville Trust Co.. Trustee.
General mortgage,$200,OOOtfj 1910
6 M-N
200,000 May 1 1933
I Amer. Tr. & Sav. Co.. Evansv., Ind.. Trustee
EARNINGS.—For cal. year 1919, gross,
interJuly 1910. Power
railway In Escanaba and an
Slant additional 7,900 was completeddam on 1916.
,400 capacity,
A new Jan. 1 Escanaba River, providing
h.p., h.p.
OFFICERS.—Pres., J. K. Stack: V.-P., J. C. Kirkpatrick; Sec, & GenMgr., P. L. Utley; Treas., M. N. Smith, all of Escanaba.—V. 103, p. 578.
Fare Increase.—In Sept. 1918 was
Increase fares to 6 cents.
V. 107, p.
auth. by the Nev. RR. Comm. to
1287.
The co. has applied for au¬
Maturity.
$500,000
172.000 Oct 1 1934
gold
c&r.ntf I Union Trust Co. of San Fran.. Trustee.
Bonds are not sub), to call. A sk. fd. of 2% of bonds out began Oct. 1910.
In addition to amount reported outstanding, $48,000 of bonds are pledged
as collateral for a $20,000 note to the First National Bank of Eureka and a
Date.
Interest.
Outstanding.
($100)
1st mtge $1,000,000
($1,000)1
6 g A-O
EARNINGS.—For years ending Dec. 31:
Cal. Year—
Gross.
Net (after
$89,285
81,643
78,181
Stock, $500,000 ($100)
1st mortgage, $500,000,
($500 and $1,000)
Taxes). Deductions.
def$495
$14,261
13,481
15,912
3,870
14,513
evansville,
EVANSVILLE & OHIO VALLEY
Deficit.
$14,757
2,431
10,643
$2,500 per annum commenced July 1 1910,
105.
All or any part of bonds redeemable
$25,000 have been retired.
V. 96, p. 1365.
year 1919, gross, $224,260; net, after taxes, $43,805.
In 1918, gross, $240,217: net, after taxes, $56,248.
ROAD.—Operates 25 miles of track from Evansville to Newburgh, with
a branch off the main line through Stevens Station and
Chandler to Boonville; has also 5 miles of side-track: total, 30 miles.
70-lb. T rails.
OFFICERS.—Pres. & Gen. Mgr., Gus Muhulhausen; V.-P. & Treas..
Chas. W. Cook; Sec., Jas. E. Cox.—V. 83, p. 271; V. 96, p. 1365.
Bonds.—A sinking fund of
105.
EARNINGS.—For
after 15 years at
ind.
RAILWAY CO.—Incorp. in Indiana
on
has acquired the stocks of the Henderson Traction
boro City RR. Co., both of which had been owned by
co.
Co. and the Owenthe Evansville Rys.
Co., and has also acquired in fee the Evansville Henderson & Owensboro
Ry. Co., which operates a line between Evansville, Ind., and Henderson,
Ky.
Fare Increase.—In Sept. 1918 was auth. by the I.-S. C. Comm. to in¬
crease fares between Evansville, Ind., and Henderson, Ky., and interme¬
diate points not exceeding 10%.
V. 107. p. 1192.
On April 5 1919 the co.. with the auth. of the Ind. P. S. Comm., filed
two deeds of trust: (1) for $750,000 issued to secure a gen. mtge. on 30-year
income(bonds; trustee, Mercantile Trust & Sav. Bank, and (2) for $1,200,000, securing an issue of 30-year 5% 1st & Ref. Mtge. gold bonds, American
Trust & Sav. Bank, trustee. V. 108, p. 1610.
va.
TRACTION CO.
ORGANIZATION.—Organized in W. Va. on May 18 1912.
Is a con¬
solidation of Fairmont & Clarksburg Trac. Co., Fairmont & Northern
Trac. Co. and Clarksburg & Weston Elec. Ry.
On Dec. 1 1915 acquired
the Fairmont Gas Co.
V. 101, p. 1465.
On April 1 1917 absorbed by
merger the Fairmont & Mannington Trac. Co., formerly controlled, that
co.'s $600,000 5% pref. mortgage bonds dated Jan. 1 1906 (all owned by
Monongahela Co.) being canceled.
On June 30 1917 acquired control of
the Kanawha Trac. & Elec. Co. (now known as the Parkersburg-Marietta
Division) which see under "Parkersburg, W. Va.," through ownership of
approximately 96% of its stock. V. 105, p. 290. The co. has since acquired
all the outstanding common and pref. stock of that co. Owns all the stock of
Fairmont By-Products Corp., incorp. in W. Va. in May 1918 to build a
$5,500,000 coke oven plant and an industrial city to cost $750,000.
V. 106,
p.
VALLEY
2450.
and
of electric railways in W. Va. and Ohio
also electric lighting and gas plants and coal
operates a system
mining properties.
Franchises in Fairmont are perpetual.
In other
cities and towns extend for 50 years, the shortest expiring in 1952.
Interurban lines on private right of way.
Franchises over county roads and
bridges In Marion and
Rate
Harrison counties are perpetual.
1918, was auth. by the W. Va. P. S.
interurban lines of the Fairmont-Clarksburg
Increase.—Effective April 1
Comm. to increase rates on the
Division
an
In Sept.
$2,829,000
average of 20%.
1918 issued $5,500,000 5-year 7% gen.
1-year notes due
Feb. 1
mtge. bonds to retire
1919 (called for payment on Oct. 7
of Baltimore), complete the
being erected at Riverville
and for various other add'ns, extensions, &c.
V. 107, p. 1004, 1287, 2009.
In June 1919 an issue of $2,000,000 l-jfear 6% notes was brought out,
proceeds being applied to completion of payments on power plant, impts.,
1918 at par and int. at the Fidelity Trust Co.
construction of the $2,000,000 power plant
Feb. 20 1919 the properties of the Evansville
Railways Co. (for history see this publication for Sept. 1918), in accordance
with the plan of reorganization set forth in detail in V. 107, p. 2289: with
the exception that the plan as revised by the Ind. P. S. Comm. provided
for the issuance of only $300,000 com. stock and $200,000 pref. stock, in¬
stead of $1,000,000 com. and $500,000 pref. as originally planned.
The
acquired
$307,400
goldf 1904
6 g J-J
475,000 July 1 1934
c*tf/Interest at Evansville Trust & Sav. Co.
I
Trustee, or Nat. Bank of Commerce. N.Y.
exceeding 180 miles of track;
ROAD.—Comprises 12 miles of track in city of Eureka. 45-60-lb. T rails.
OFFICERS.—Pres., Wm. Butterworth: V.-P., Lloyd Baldwin; Sec. and
Treas., Horace R. Hudson; Mgr., J. W. Hale.—V. 109, p. 2172.
In Dec. 1918 and
1888, with a per¬
electricity and freight by steam.
a
Owns
$4,000 note to Wm. Butterworth.
1917
1916
Pass, business hauled by
car-lot freight and express business.
Has private right-of-way.
STOCK AND BONDS—
Dale.
Interest.
\Oulstandmg,
Maturity.
Does
MONONOAHELA
2172.
STOCK AND BONDS—
1918
EVANSVILLE SUBURBAN & NEWBURGH RY.
ORGANIZATION.—Incorporated In Indiana in Dec.
petual charter.
fairmont, w.
1903.
thority to increase fares to 10 cents V. 109, p. 2172.
Default in Interest & Sink. Fund Pay'ts.-—The co. was unable due to lack
of funds, to pay the int. on its bonds due Oct. 1 1919 and the amount due
the sink, fund to redeem 2% of these bonds also due Oct. 1919.
V. 109,
Stock $1,000,000
10-ton and 5 25-ton coal cars.
1364; V. 105, p. 2273.
25
railway in Owensboro and suburbs;
double West., 68 G. E. 800; 7 trailers,
Power house 600 k. w. capacity.
V. 90;
1234 miles of street
56 and 70-lb. rail; 30 motor cars,
p.
$98,490; net, $18,233; in 1918,
net, $17,062.
ROAD.—Owns
eureka, cal,
HUMBOLDT TRANSIT CO.
ORGANIZATION.—Incorporated In California July 31
p.
$82,378;
gross,
which will retire bonds at
which was placed in operation in
urban road to Gladstone,
65,534
56.779
by Evansville & Ohio
Valley Ry. Co.) in April
Pref stock $500,000...
Year—
mortgage.
First
Outstanding.
Common stock $200,000
,
^
by Evansville & Ohio
Valley Ry. Co.) in April
additions, &c. V. 108. p. 2330. 2629.
Valuation.—See V. 110, p. 970.
STOCK AND BONDS—
Common$12,000,000 ($25)
Pref. 6% cum. $4,000,000($25)
First & ref M, $15,000,000, gI
Date.
Interest.
Q-J
6 Q-J
5 J-D
Outstanding.
Maturity.
$8,279,637 Oct'18, 1H
3,358,602 Apr '20,134
4,250,000 June 1 1942
1912
tf/Fidelity Tr. Co., Bait., Trus.
Int. in N. Y.
$15,000,000 ($100,1 1918
7 g J-J
5,500,000 July 1 1923
$500 and $1,000) g
ctff/Central Union Trust Co. of N. Y., Trustee.
One-year
notes
$3,000,0001 1919
6 g Q-S
2.000.000 June 1 1920
($1,000 and $5,000) g—c/Fidelity Trust Co., Baltimore, Md., Trustee
Fairm & Ciarksb 1st xM, $2,-1 1903
5 g A-O
2,500,000 Oct
11938
500.000 g ($l,000)._c*ntf/Int. at Guaranty Trust Co., N. Y.. Trustee.
Stock.—Pref. stock is convertible into common stock, share for share.
In
($500 & $1,000)..c*&r*
Gen mtge
capital stock was increased from $9,500,000 com. and
$3,000,000 pref. to $12,000,000 com. and $4,000,000 pref.; the par value
of the shares was changed from $100 to $25 each, and 6% pref. stock was
June 1917 the auth.
apr., 1920, j
ELECTRIC
RAILWAYS
45
Issued In place of the
5% stock, the preferred shareholders being given the
right to convert their stock into 6% stock on the basis of 3 9-25 shares of
6% stock (par $25) for each share of 5% stock (par S100).
V. 105, p. 290.
Application has been made to list both the com. and pref. stocks on the
Stock
Y.
ExchangG.
fort
smith,
ark.
FORT SMITH LIGHT & TRACTION CO.
Standard Gas & Elec. Co., a holding company under the control and
Chicago. 111., owns $949,900 com.,
$798,700 pref. stock, $150,000 1st M. bonds and $400,000 2d mtge. 5s of the
company.
As of Dec. 31 1918 the company had outstanding $955,666
promissory notes, of which $844,666 were held by the Standard Gas & El. Co.
management of H. M. Byllesby & Co.,
bonds, $2,500,000 are reserved to retire prior
liens, $5,500,000 are deposited under the gen. mtge. and 52,250,000 are
for add'ns and ext's under certain restrictions.
Red. at 105 and int. on
Bonds.—Of the 1st (& ref.)
int. day on or after June 1 1922.
Tax refund, in Pa.
See V. 102, p.
V. 94, p. 1508.
The gen. mtge. bonds are secured by pledge of
pref. stock of the Kanawha
ref. mtge. bonds.
As further
1st & ref. bonds are issued they also will be pledged under the general
mortgage and no additional Kanawha Trac. & Elec. 1st & ref. mtge. bonds
may be issued
(except for refunding underlying bonds; unless pledged
under the general mortgage.
$600,000 escrow bonds are issuable for the
purpose of acquiring certain coal properties already contracted for.
The
remainder may be issued for 75% of the cash cost of ext's, add'ns and impts.
under certain conditions.
A depletion charge of 20 cents per gross ton of
coal mined and 3 cents per 1,000 cu. ft. of natural gas sold is to be included
in operating expenses, these amounts to be paid into a sinking fund for the
purchase or redemption of gen. mtge. bonds.
The co. also covenants to
expend or reserve annually for deprec. & maint. a sum equal to 20% of
railway gross earnings and 15% of gross earnings from the sale of electricity.
The $1,000 bonds may be registered as to principal.
Red. all or part on
4 weeks' notice at 101 and int.
Int. payable in New York or Baltimore.
V. 107, p. 1004.
Fairmont & Clarksburg 1st mtge. bonds subject to call
at 105 and int.
Listed on Philadelphia Stock Exchange.
Notes.—During the life of the 1-year notes the co. may not issue any
additional Gen. M. 7% bonds (V. 107, p. 1004, 1287) beyond 5600,000
now issuable thereunder, except for the purpose of retiring or purchasing
these notes; nor issue any obligations under any future mortgage, or incur
any debt other than notes or accounts payable created in the regular oper¬
ation of its business.
Red. all or in part, any time upon 30 days' notice
atlOOandint
V
108. p. 2620Dividends.—5% was paid on the pref. stock to June 30 1917, when the
div.. rate was changed to 6%.
Same rate has been paid quar. since to
and incl. Apr. 1920.
See remarks above.
Initial dividend on common
—2%—paid Jan. 1913; July 1913, 1K%; Oct., 1J^%.
In 1914, Mar..
1H%: July, 1 Yi%.
In 1915, none.
In 1916, 4%.
In Jan. 1917 paid
1% cash and an extra dividend of 6% in common stock; April, 1H%:
July, 1 H% regular, and in Aug. an extra dividend of lfi%\ Oct., 1 >£%.
In 1918, 5%.
None since.
any
1346;
approx. 99% of the com. and 93% of the
Traction & Electric Co. and $5,500,000 1st &
EARNINGS.—For year ending Dec. 31
Gross.
Exv. & Taxes.
(1918 report in V. 108, p. 2625):
Net.
Fixed Chgs.
Surplus.
$4,418,700
$3,019,154
$1,399,546
$784,551
$614,995
1918
3,787.328
2,613,660
1,173,669
581,865
591,804
Total surplus Dec. 31 1918 after deducting prer. divs., $200,477: com,
divs., $413,831; div. on minority pref. stock of K. T. & E. Co., $2,349.
and $7,769 for adjustments, was $288,342.
Year—
1919
(exclusive
ORGANIZATION.—Incorporated in Arkansas
on
April 13 1903
as a con*
solidation of the Ft. Smith-Van Buren Light & Transit Co. and the Ft. Smitk
Trac., Lt. & Pow. Co.
Owns all physical property, contracts, rights and
franchises of Van Buren Fuel & Light Co. (now dissolved).
Does the entire
electrio-light, gas and street railway business of the city, and the electriclight and gas business of Van Buren; operates an interurban line betwee®
Ft.
Smith
two
Van
and
public
service
In
Buren.
1917
corporations
contracted
to supply electricity
towns, villages and coal
railway, gas and electrioin 1955.
Gas and electric light fran*
street railway in 1962.
1920, the co. was auth. by the Ark.
cents cash, 9 tickets for 50 cents and
which
supply
mines to the south and east of Fort Smith.
light franchises in Ft. Smith expire
chises In Van Buren expire in 1957:
Fare Increase.—Effective Jan. 16
Corp. Comm. to increase fares to 6
19 tickets for $1.
V. 110, p. 464.
STOCK AND BONDS—
Date.
Interest.
Common. $1,500,000 ($100)
Prei $5,000,000 ($100) 7% cum
First, mortgage $6,000,000
g( 1911
s f ($500 and $1,000)
c* j Int. at
Second mortgage
at
Street
Outstanding.
$950,000
1.410,000
Q-J 15
Maturity
—
See text
5 g M-S
2.483.500 Mar I 1936
Illinois Trust & Savings Bank, Chic.,
(
Trustee, or at agency ot co. in N.Y. or Bos.
$1,000,000-1 1918
5 M-S
400,000 Sept 1 1921
/Int. at Cont.&Com.Tr.& S.Bk., Chic., trus.
Stock and Bonds.—Pref. stock Is red. at any time after 3 years.from issue
110 and accrued div.
Remaining 1st M. bonds can only be issued tot
of
75%
of additions, improvements and extensions under certain
cost
strictions.
re¬
See V. 92, p.
956.
Subj. to call as a whole or in part on any
Cash sink. fd. of 1% yearly 1914 and 1915, 1H%
yearly 1916 to 1918, 2% yearly 1919 to 1923 and such ratable amount*
thereafter as by July 1 1935 will make total sk. fd.
40% of bonds certified
V. 92, p. 956.
$216,500 have been retired.
int. day at 105 and int.
Dividends.— Pref. is cum. from Jan. 1 1912.
1st div. on pref.—1H%-—
paid April 15 1910; July, 1M %: Oct.. Hi % and IK % quar.to and includ¬
ing April 1913; none since.
EARNINGS.—For years ending Dec. 31:
Calendar Year—
Gross.
Net. aft. Tax.
1919
$280,387
$850,365
693,981
—
1918
230,930
——
Int.Chgs.{Net)
Balance.
$218,553
sur.$61,834
206,296
sur. 24.634
ROAD.—Owns and operates 31 miles of track on 12 miles of streets in
Ft. Smith and suburbs.
Standard gauge, 60-lb. and 80-lb. T rail.
41 cars.
Owns
a
park of 110 acres.
Also gas works for distributing natural and arti¬
ficial gas (artificial gas plant Is held In reserve) with 78 miles of mains, and
of Kanawha Traction & Electric Co.,
which see under "Parkersburg, W. Va.") street railways in Fairmont,
W. Va., and in Clarksburg
W. Va., and an interurban line of 25 miles
electric power and lighting plant—generating capacity, 8.600
horse-power
and pole line of about 165 miles.
connecting the two with various small
OFFICERS.—Pres., A. S. Huey: V.-P.. TI. M. Byllesby: Vlce-Pres. &
Mgr., D. C. Green; Sec., Aud. & Treas., R. E. Ballard: Gen. Mgrs., H. M.
Byllesby & Co., Chicago.—V. 108, p. 170, 2433; V. 110, p. 464.
ROAD.—Operates
branch lines; also lines from Fair¬
to Fairview, 14 m.; Clarksburg to Bridgeport, 7.6m.; Fairmont to
Mannington, 17 miles, and Clarksburg to Weston, 24 m.; total track in
operation, 116.57 miles.
An extension from O'Neil to Wolf Summit,
2% miles, was placed in operation on July 12 1917.
Standard gauge.
80 and 85-lb. T rail.
The co.'s
new
steam
power
plant, which Is
located about 4 miles north of Fairmont, W. ,Va., will, it is estimated, cost
about $3,000,000 and will have an ultimate capacity of 50.000 k.w.; initial
installation. 20,000 k.w.
Present plant has 5.000 k.w. capacity.
Initial
installation was to have been ready for operation on April 1 1919.
mont
OFFICERS.—Chairman of Board, .las. O. Watson; Pres., G. M. Alex¬
ander; V.-P., Smith Hood; Sec. & Treas., Walton Miller; Gen. Mgr., E. B.
Moore: Aud., O. F. Lough.—V. 107. p. 1287, 2009. 2290; V. 108, p. 480,
973, 2330, 2629, 2625; V. 110, p. 970.
fort
wayne, ind.
FT. WAYNE & NORTHERN
Controlled
by
INDIANA TRAC. CO.—A trolley road.
Interests as the Ohio Electric Ry. and the Terre
Haute Indianapolis & Eastern.
Receivership.—On Feb. 10 1919 Pres. Robt. M. Feustel was appointed
receiver for the company upon application of the Evans Coal Co.
V. 108,
p. 784.
same
.
Reorganization Plan.—The bondholders' committee for the Fort Wayne &
5s, P. M. Chandler, Chairman, has announced a plan
of reorganization dated Aug. 18 1919, which may be declared
operative
when approved by 75% of the Ft. Wayne & Wabash Val. Trac.
5% bonds.
The plan, as modified (V. 110, p. 77, 261), provides for the formation of a
new company which will acquire the
property of the company, excluding
Wabash Val. Trac.
north dakota.
fargo,
NORTHERN
STATES POWER
(STREET RAILWAY).
CO.—FARGO-MOORHEAD
DI¬
VISION
ORGANIZATION.—Fargo & Moorhead Street Ry. was Incorporated
July 19 1902 in North Dakota.
In April 1916 Northern States Power
acquired all of the physical property.
See V. 102, p. 1441, 1543.
In
June 1912 new 25-year franchises were granted in Fargo, Moorhead and
Dilworth.
Operates in Fargo, N. D., add Moorhead, Minn., and an
division
such
or
divisions
as
the
committee
may
hereafter determine.
Co.
8'he committee bid 110, p. property for $1,301,000 at foreclosure sale held
in the 77. Compare V. 109, p. 2262.] On Jan. 16
29 1919.
V.
Interurban to Dilworth, Minn., a total of 15.584 miles.
1920 the Indiana Service Corp. was incorp. in Indiana as successor to the
Fort Wayne & Northern Indiana Trac. Co.
The directors of the new co.
include Henry O. Paul, Samuel W. Greenland, Harry E.
70-lb. T rail.
General Managers,
V. 105, p. 2099; V. 107, p. 604.
Fred H. Schmidt, Fred R. Fahlsing, Harry V. Norford, James M. Barrett.
V. 110, p. 359.
The capitalization of the new company under the modified!
II.
M.
Byllesby
Standard gauge.
& Co., Chicago. 111.
ELECTRIC
RAILWAY CO.—A trolley road.
& P., at a rental of $8,255 per annum.
\
Y. P. S. Comm. to
Leases the Citizens' St. RR., L
Fare Increase.—On July 25 1918 was auth. by the N.
Increase fares from 5 to 6 cents.
V. 107, p. 501.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
$50,000
$50,000----- 1895
6 J-J
50.000
July 1925
EARNINGS.—For year ending Dec. 31 1917, gross, $57,331; net, after
taxes, $8,421; interest, rentals, &c., $12,027; deficit, $3,606.
Stock. $50,000.
First
Vordermark,
plan (excluding securities reserved) will consist of the following:
fishkill-on-the-hudson, n. y.
FISH KILL
ec.
-
mortgage,
Total, 7li miles.
ROAD.—Owns4>£ and leases 3 miles.
OFFICERS.—Pres.. John T. Smith; V.-P., W. T. Conklin; Sec., W. H
Southard; Treas., G. W. Patterson.—V
.107,
p.
501.
$4,944,300 1st & Ref. 5s, dated Jan. 1 1920, due Jan. 1 1950.
Authorized!
issue may be limited or unlimited as the committee
may deter¬
mine.
\
4,807,750 3-6% (non-cum.) adjustment mtge bonds dated Jan. 1 1920.
Auth., $6,000,000.
Int. payable semi-ann. if earned (non-cum.)
but no int. shall be paid until after Jan. 1 1920, and no int. shall
be paid unless earned in excess of proper prior
charges; and for
the year 1920, but not thereafter, in excess also of the sum
of
$300,000.
The int. rate shall not exceed, for 1920, 3% per ann.;
for 1921, 3%; 1922. 4%; 1923, 5%; 1924 and each
year there¬
after, 6%.
The holders will be entitled to representation on the
board after 1923 if the int. is not earned and paid for a
period of
two years.
Red., all or in part, at par and int. on any int. date.
2,202,250 7% pref. stock; auth., $5,000,000.
Pref. a. & d. (non-cum.).
2,212,250 common stock; authorized, $5,000,000.
The plan as modified also provides that the new co. shall have the
right to
create, under approval of the P. S. Comm., at any future time, a preferred stock
other security, subordinate to the 1st M. bonds, but which shall be entitled
to the payment of divs. or int. prior to the adjustment bonds and
junior securi¬
ties, as well as to priority over them in payment of the prin. upon liquidation.
The above securities will be distributed as per the
following table:
or
fitchburg,
mass.
FITCHBURG & LEOMINSTER STREET RY.
April 1905 absorbed the Leominster Shirley & Ayer Street Ry. through
exchange of stock, share for share.
V. 80, p. 1478.
In Sept. 1907 Mass.
RR. Commission sanctioned increase in stock from $450,000 to $700,000,
new stock to be iasued
at
110.
Company then petitioned Commission to
allow stock to be Issued at 100 (V. 85, p. 722) but in Sept. 1908 Commis¬
sion denied application.
V 87. p. 812.
Rates.—In Oct. 1918 filed with the Mass. P. S. Comm. a local and joint
class freight rate and minimum tariff, increasing rates by about 25%.
Fares.—In Nov. 1919 the co. filed a new tariff increasing fares from 7 to
10 cents, tickets from 6
to 8 1-3 cents and 10-trip tickets from $1 to $1 25.
V. 109, p. 1986.
In
STOCK, BONDS, &c.—
$700,000 ($100)
Date.
Interest.
Stock
Fitch & Leo con mtge,
000 ($1.000)
L S & A 1st mtge,
gold
Outstanding.
$450,000
Maturity
See text
4H F-A
300,000 Feb 11921
{Int. at Boston Safe Dep. & Tr. Co.. Trustee.
$100,000 f 1905
5 g F-A
100,000 Feb
1 1921
$350.-\ 1901
c*(Int. at Boston Safe Dep. & Tr. Co., Trustee.
(Guar. p. & i. by Fitch. & Leom. Street Ry.
($1.000)
Dividends.—For many years up to and incl. 1900-01, 8%; since, 6% p. a.
RGAD.—Owns
41.51
miles of
track.
Road
extends
to
Leominster,
Lunenburg, Shirley and Ayer.
31 closed passenger cars, 24 open passenger
cars
3 cxnrcsM cars and 5 snow plows.
EARNINGS.—For year ending Dec. 31 1919, gross, $499,269: net, after
New First
to remain undisturbedto remain undisturbed-
Bluffton Trac. Co. 1st 5s__-No default; to remain undisturbedTo $6,966,000 Ft. Wayne &1$3,483,000 $3,483,000
Wabash Valley IstM. 5s_J
(50%)
(50%)
To
$275,000 Wabash
1st M.
To
Riverl
275,000
f
(100%)
&1
$339,600
(40%)
360,000
(12%)
5s
$849,000
Lafayette
Logansport 1st M. 5s
[
To $3,000,000 Ft. Wayne &(
Nor. Indiana Gen. M. 5s„f
To $2,500,000 Pref.
stock..J
$339,600
(40%)
750,000
(25%)
225,000
(9%)
To $4,000,000 Common stock
Res. for undisturbed bds.(100%)486,700
.
Res.
or
for
plus, $932.
$169,800
(20%)
1,890,000
(63%)
100,000 $1,600,000
(4%)
■
(64%)
(10)400.000
....
issue
by committee
treasury of new company
405,700
192,2501
Total present auth. issue__$5,350,000 $5,000,000
taxes, $91,052; other income, $95; int., &c., $67,715; divs., $22,500; sur¬
H
Adjust.
7% Pref.
Common
5s.
Stock.
Stock.
in plan (see note)-
Existing Securities—
& Ref. 5s.
Mtge.
$225,000 Lafay. St. Ry. Ist6s
Not yet
$29,000 Ft. Wayne Tr. 1st 4s.-No default;
$57,000 Ft.WaynePow.lst 5s.-No default;
$400,000 Ft. Wayne Marion &
297,750
Note.—The Lafayette St.
OFFICERS.—Pres., Supt. and Purch. Agent, W. W. Sargent; V.-P.,
I
Wallace; Clerk and Counsel. C. F. Baker; Treas., R. N. Wallis, all of
Fitchburg.—V. 87, p. 812; V. 103, p. 2238; V. 104, p. 663; V. 109, p. 1986.
to
secure
Ry. division is subject to an underyling mtge.
$225,000 of Lafayette St. Ry. Co. 1st M. 6s.
The holders of
are not given any recognition in the above table of
distribution.
these bonds
A committee has been formed to represent tne interest of these bondholders
and an offer has been made to that committee on behalf of the Wabash
Valley committee, but this proposition has been rejected.
fort
dodge, iowa.
FORT DODGE DES MOINES & SOUTHERN RR.- -See "Railroad and
Industrlal" section.
■
■
fort
scott,
kan.
& ELECTRIC CO.
informed that the railway portion of this property
abandoned, and dismantled, and that the rails were being
emoved fr m the streets.
V. 110, p. 1415.
We have, therefore, eliminated
the statement of the co. from this section.
For history see "Electric
Railway" supplement of Nov. 15 1919.
THF
FORT SCOTT GAS
In March 1920 we were
had
287,750
$2,500,000 $2,500,000
been
shall have full power to agree upon any compromise,
The committee
including
power to use
of the new securities available for the purpose either to bring to the
Lafayette St. Iiy. bondholders into the reorganization or for securing from
any
them
a
release of all claims.
Unless 75% or more of each of the above bond Issues agree to
join in the
reorganization, the committee may eliminate said division from the reorgani¬
zation; in case any division is not taken into the reorganization, the securi¬
ties exchangeable for the bonds thereon shall be applicable to
reorganization
purposes and if not so used shall be placed in the treasury of the new com¬
pany available for corporate purpose.
A detailed outline of the above plan
appeared in V. 109, p. 775. to which we refer the reader for further particu¬
lars.
See also modifications in V. 110, p. 77, 261.
46
ELECTRIC
RAILWAYS
ORGANIZATION.—Incorp. in Indiana on Feb. 13 1911 to take over the
Wayne & Wabash VaJley Trac. Co. per plan In V. 92. p. 394. 594.
Ft. Wayne & Wabash valley Traction Co. had previously acquired
See V. 89. p.
tracks.
[Vol. 110.
Has leased for 20
411.
years
from Dec. 17 1915 the
Ft.
terminal facilities of the Dallas Interurban Terminal Assn.
The
Dallas Railway Co. on a preceding page.
through consolidation or purchase the following companies.
Ft. Wayne Marion & Bluffton Tr.Oo. Lafayette Street Ky.
Ft. Wayne El. Lfc. & Power Co.
Logansport Railway Co.
,
Ft. Wayne <k Southw. Trac. Co.
Ft. Wayne Traction Co.
Logans. Koch. & Nor.
Lafayette & Logansport Trac. Co.
Wabash River Traction Co.
Also
controls
Wabash
Valley
company an
V.
104,
Trac. Co.
Wabash-Logansport Traction Co.
Fort
Wayne Power Co., Carroll Electric Light Co. and
Utility Co.
Owns a one-fourth interest in the United
Tractions Coal Co', which
owns
and leases valuable coal lands to insure the
adequate supply of coal (see Shirley Realty Co. of Indiana in
1805).
p.
Furnishes electric light In Ft. Wayne, Roanoke and Delphi, municipal
franchises extend to 1935 and 1998, except in Ft. Wayne, which lor more
than *4, of street railway are perpetual, the balance being for outlying exten¬
sions and extending to 1937.
Lighting franchise,* in Ft. W extends to 1935
Default.—Int. due Sept. 1 1917 on $1,059,000 1st & ref. 5% bonds and
$1,164,000 6% collateral notes of the Ft. Wayne & Nor. Ind. Trac. Co.,
and on the $6,966,000 Ft. Wayne & Wabash Valley 5s was defaulted.
The
holders of the 6% collateral notes have surrendered same and taken the com¬
pany's $1,941,000 1st & ref. 5% bonds which were pledged as collateral.
V. 109, p. 1700.
The company having given notice that it would default
on the payment of int. due June 1
1919 on the Lafayette St. Ry. 1st M.
5Ms, the following committee was formed (V. 108, p. 2329):
Committee for
Lafayette St. Ry. 1st Mtge. 5 lAs.—Dimner Beeber, Warren
G. Griffith, and Walter iiaehnlen.
Depositary: Real Estate Trust &o.,
V. 108, p. 2329.
Committee for
Sec., Cnas. E. Sigler, 54 Wall St., N.
Co.
of New
Committee
Vo Tex Trac 1st M
Y.; depositary. Central Trust
($1,000)
York.
Common Stockholders and Holders
Committee
Trust
Co.,
classes of stock
Randal Morgan, Henry
New York.
1936.
No later information.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturuv.
Common, $4,000,000 ($100)._
$4,000,000
Pref ,6% (cum) ,$4,000,000($ 100)
2.500.000
See ten
"Q-M""
Dividend scrip
abt. 75,000
1st
ref mtge $15,000,000. tf 1911
"5 M-S"
3,000.000 Mar r 1931
Ft W & W Val Tr 1st cons M [ 1904
5 g M-S
6,966.000 Mar
I 1934
$7.500.000g ($1,000) _c*tf/Int. at Commercial Tr. Co.. Pbiia., trustee
listed
are
mmds.—*Of the coll.
"A"
Series "B"
5 F-A
($1.000)
14.000
Wabash RIv Tr Co
See f.e*»
30,000
-
1st mtge/
See text
5 g F-A
275.000 Aug
1 i93J
Int at N. Haven Tr.Co.. NT. Haven, trustee
1899
4 g AO
29.000 Oct
1 1929
Int. at Guard. Tr. Co., Cleveland, Trustee
000 gold ($1.000)
.......
_
_
secured by
EARNINGS.—Of combined companies for 12 months ending Dec. 31:
Year-—
Gross.
Netfaft.Taz.) Oth.lnc.
Interest. Sink.Fds.
Surplus.
1919 ..$3,387,854
1918
2.929,760
$1,237,937
$115,000
$299,433
$1,053,504
1,045,927
il5,000
302,347
858,580
ROAD.—Subsidiary companies operate 164 miles of track, standard
gauge; 206 passenger, 22 trail and 16 other cars.
In July 1916 completed
an 1,800 ft. viaduct over the steam roads
entering Union Depot in Dallas.
Power station has capacity of 10,800 k. w.; also purchases power from the
..
Dallas Power & Light Co.
OFFICERS.—Pres., Marshall M. Phinney; Sec., George A. Peirce;
Treas., Henry B. Sawyer; Gen. Mgrs., Stone & Webster Mgt. Assn., Bos¬
ton.—V. 102, p. 154; V. 104, p. 1899; V. 106, p. 396, 818, 2346.
FOSTORIA,
tf) 1907
5 M-N
57.700 Nov 1 1937
[Int. at Guar. Tr. & S. D. Co.,Phila., trustee
Bridge bonds
Paving bonds
25.600
99,792
Slock.—Both stocks are listed on Phila
Stock Exeh.
V
94, p. 826
Bonds.—Of the 1st & ref. M., $8,807,000 are reserved to retire underlying
bonds
and
for
acquisitions, extensions and additions.
Sub¬
ject to call as a whole on any Interest day at 105 and int
In addition
to bonds noted above there are $3,500 lost bonds of the Loganspt Ry. out¬
standing. due Sept. 1 1929.
For liens of various issues see V. 105. p. 1103.
The Ft. W. & W. V. consols of 1904 are not subject to call before
maturity
They are listed on Phila. Stock Exch. The Wab. Riv. Trac. Co. 5s of 1901
are subject to call at any time at 105 & int.
Lafayette & Logansport 1st
M. Is closed; no more bonds can be Issued.
The Lafayette St. Ry. 1st M. 6s were extended for 10 years to June 1
1923 at 64% Interest
The Penn. Co. for Insur. on Lives & Granting Annuities is trustee of
,
Ft. W. & N. I. Trac.
car trusts.
Series "A" mature $2,000 each Feb. and
$3,000 each Aug. to Feb. 1923.
Series "B" mature $1,000 s.-a. to March 15
Tri-State Loan & Trust Co., Ft. Wayne, trustee Series "G," which
1923.
$2,000 March, June, Sept. and Dec. 1.
14% quar., from organization to Sept. 1912.
In
a scrip dlv. of 3% was paid, covering dlvs. payable Dec. 1912
and Mar. 1913.
See statement In V. 96, p. 1422.
None since.
Dividends.—Gu pref.,
ROAD.—Operates 220.33 miles main track connecting Fort Wayne,
Huntington, Wabash, Peru, Logansport, Delhi, Lafayette and Bluffton;
Fort Wayne, Wabash, Peru, Logansport and
Lafayette.
At Logansport, Peru, Wabash and Bluffton connection is made for
Indianap¬
olis over tracks of Indiana Union Traction Co.
In May 1906 began through
service between Fort Wayne and Indianapolis over tracks of Union Traction
Co. of Indiana.
See V. 82, p. 1101.
Rails, 60, 70, 72, 80 and 90-lb.
Owns
2 power houses and 4 pleasure parks.
Owns 180 passenger cars and 60
also local lines in
other
cars.
REPORT.—For calendar
Calendar
Gross
Year—
1919
Revenues.
$2,548,485
2,076,301
2,020,349
1918
1917
years ending Dec.
Net
Expenses
and
Taxes.
$1,999,193
1,812,607
1.488,987
$549,292
Interest.
x$601,762
Fares.—In
579,482
583,019
Balance,
or
Def.
def.S52.470
315,788
def.
43,657
H. J. Alker, Phila.—V. 107, p. 1192; V. 108, p. 378, 784, 1221, 1936, 2329;
V. 109, p. 775, 1700, 2262 ; V. 110, p. 77, 261, 359.
FORT
NORTHERN TEXAS
common
WORTH,
TEXAS.
ELECTRIC CO.—A
holding company.
stock, $500,000 is owned by Pub. Service invest. Co.
ORGANIZATION.—Incorporated in Maine Nov. 16 1905 and owns the
entire stock and participating bonds of the Northern Texas Traction
Co..
which does all the electric-railway business In Fort -Worth and
operates an
Interurban line between that city and Dallas, 35 miles, and the camltal
stock of the Tarrant County Traction Co. (name changed from Ft. Worth
Southern Traction Co. In 1914), which operates a line between Fort Worth
and Cleburne, Tex., 31 miles.
It is proposed to extend the line from
Uleburne to
Denton, the rights of the Fort Worth-Denton Interurban Co.
having been acquired.
V. 99, p. 121, 122.
Also owns the capital stock of
ihe Arlington Light <fe Power Co., which does the electric
light and power,
Uiand water business in Arlington. Tex.
Enters Dallas over It" own
July 1918 was auth. by the Ohio P. S. Comm. to increase
fares to 3-cents per mile.
V. 107,, p. 401.
Compare V. 107.
passenger
82.
p.
STOCK AND
BONDS—
Date.
Interest•
Outstanding.
Corn stock, $200,000 ($100)-Pref stock $200,000 ($100).—
First mtge $250,000
$200,000
Maturity.
—
200.000
($1,000)
\ 1910
5 A-O
c*/Int. at Cleveland (O.)
gold
See text
85.000
Trust
Oct 1 1930
Co., trustee.
Bonds.—Normal Federal Income tax paid at source.
Dividends.—Paid a dividend of 3% on pref. stock in Jan. 1913.
Doc., 6%.
In 1918, Dec., 3%.
None since.
E/\RNfrNG8.—For years ending June 30:
12 Months—
Gross.
1918-19
Net, after Taxes.
Int.
In 1917
Depr.Res've.
Surplus
$87,484
$28,121
$7,574
$1,221
$19,326
75.859
32.927
8,370
1,221
23.336
ROAD, <fcO.—21.38 miles of electric Interurban railway ou private right-
1917-18—-
of-way,
—
—
.
connecting
Fostoria and Fremont.
Forms the connecting link
Ry., Toledo Fostoria & Findlay Ry. and Lake
Iiy., all of which use the line under traffic contracts.
OFFICERS.—Pres., F. D. Carpenter, Lima, Ohio.—V. 107, p. 82. 40.
between the
8hore
Western Ohio
Electric
FOXBORO, MASS.
NORFOLK &
BRISTOL
STREET
RY.
ORGANIZATION.—Incorporated In Massachusetts
In November 1901.
Fare Increases.—On Aug. 19 1915 the Mass. P. S. Comm.
granted per
mission to lrKTease the fares from 5 to 6 cents or 18 ticker.* for $1
SeeV. 101, p. 694; V. 103, p. 1031.
In June 1918 the co. notified the Mass.
P. S. Comm. of a fare increase from 6 to 7c. with 15 tickets for
$1, effective
June 29 1918.
In Nov. 1918 notified the P. S. Coram, of its intention to
increase fares from 7 to 8 cents and to make a
corresponding increase in
commutation rates.
V. 107, p. 1837.
i
STOCK
AND
BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock. $200,000 ($100)
$200,000
1st mtge, $200,000 ($1.000),\ 1908
5 g J-J
1S9.000 July 1 1928
g. sink. fd.
Red. at 105-- f Int. at American Trust Co., Boston. Trustee
Bonds.—$11,000 first mtge. bonds in addition to those reported out¬
standing are held in sinking fund.
EARNINGS.—For 12 mos. end. Dec. 31 1918, gross,
$95,157; net.
def.,
after taxes, $7,182;
bond int. & sink, fund, $12,000; loss for year, $19,182.
ROAD.—Owns '21.739 miles of track between Norwood. Mansfield
and
Wrentham: 21 passenger cars, 3 snow plows and 2 service cars.
OFFICERS.—Pres., Lawrence A.Ford; Treas., R.Elmer Townsend; Gen.
Mgr., M. A. Cavanaugh.—V. 101, p. 694; V.106,p. 2450; V. 107,
p. 1837.
FRESNO,
Sur.
def.
x Includes
all int. on bonds although receiver has paid int. on only a
few underlying issues.
OFFICERS.—Chairman of Board, J. Levering Jones; Pres., Robert M.
Feustel; V-.P., Treas. & Sec., H. E. Vordermark, Ft. Wayne; Asst. Sec.,
Of the
largely
Western Ohio
31:
Revenues.
263,694
539.362
Is
by Interests Identified with the Lake Shore Electric Ry. Co.
Ry. Co.
Besides passenger business, does a freight and
express business and handles coal for use by Ohio State Power Co. at
Fremont,
mid
mature
May 1913
Ownership
presented
—_—
remainder
OHIO.
POSTORIA & FREMONT RAILWAY CO.
ORGANIZATION.—Incorp. fn Ohio in 1909.
,
Ft W Power Co mtge
Exchange.
DIVIDENDS.—First dlv. on prer. (1%) paid March 1 1906 and 2%
Sept. 1 1906; since, 6% per annum.
First dividend on common stock,
2%. paid Sept. 1 1909; In 1910. 5%%-, in 1911 and 1912, 6%; In 1913
6 4%; in 1914, 7%; in 1915. 4%%; in 1916 and 19i7, 4%.
In 1918,
6%.
In 1919, 4%.
In 1920. Mar., 2%.
1901
$350,000 ($1,000) g „*ntf
Wayne Tr mtge $1,500.c*tf
Lafayette Street Ry 1st mtge
1893
54 J-D
225.000 June 1 1923
($1,000 each) $2^5,000c* tf lint, at Real Estate Tr. Co.. Phila., Trustee
Laf & Log Tr 1st M $1,000,-1 1906
o g J-D
849.000 June 1 1936
000 g ($1,000) gu p & ic* tf I Int. at Guar. Tr. & S. D. Co., Phila., Trustee
t W M & B 1st M $400,000/
1905
5 g J-J
400.000 July 1 1935
gold ($1,000) guar p & L tf (int. at Guar. Tr. & 8. D. Co .Phila., trustee
Ft
the Boston Stock
bonds, $2,500,000 are reserved to retire North
Callable as a whole or In part, for sink. fd. only, at 105 and Int. on
int. date. Sinking fund of 1% of bonds out began Nov. 1 1911. Bonds
deposit of all the stock of the North. Texas Trac. Co.
V. 90.
p. 373, 1239.
The Northern Texas Traction Co. bonds are subject to call
as a whole on any interest day at 105 and interest.
See text
7 .000
5 M-S
($1,000 each)_tf
"C"
Series
on
trust
$10,000.
are
...
Series
1933
any
——
Ft W & N Ind Tr—
1
Texas Traction 1st M. bonds; $293,000 have been retired.
Coupee
bonds are In denom. of $1,000;
registered bonds, $1,000, $5,000 and
for Ft. Wayne & Wat). Val. Trac. 5s.—P. M. Chandler, Chair¬
E. W. Clark, John M. Irwin. A. A. Jackson, John H. Mason, C. S. W.
Packard, R. Lancaster Williams; Sec., W. J. Devine, Franklin Bank Bldg.,
Depositories, Commercial Trust Co., Phila., and Fidelity Title
& Trust Co.. Pittsburgh, Pa.
V. 105, p. 1419.
In Aug. 1919 $6,063,000
of the $6,966,000 outstanding bonds of this issue had been deposited witn
the committee.
V. 109, p. 775.
Committee for Lafayette & D>gansport lsf Mtge. 5s.—Rowland Comly,
Chairman; Col. Sheldon Potter, Wm. B. Whelen and Kdw. V. Kane,
all of Philadelphia.
Depositary: The Logan Trust Co., Phila.
V. 105,
p. 1522; V. 106. p. 296.
Fare Increases.—On Jan. 15 1918 was auth. by the I.-S. C. Oomm. to
Increase its passenger fares 15%.
On Mar. 4 1918 was auth. by the Ind.
P. S. Comm. to put Into effect, for the duration of the war, a straight
5-cent fare.
In Jan. 1919 applied to the Indiana P. S. Comm. for auth.
to charge a straight 6-cerit fare hi Fort Wayne, Logansport, Lafayette,
Wabash and Peru and to increase interurban rates from 2 4 to 2 % cents
per mile.
V. 108, p. 378.
The Increase from 24 cents to 2% cents per
mile in interurban rates became effective in the latter part of April 1919.
On May 1 1919 the Ind. P. 8. Comm. denied the company's application for
a 6-cenfc fare in
the above-named cities.
This denial continues in force
until Jan. 1 1920, after which the Commission will issue a final order, based
on reports, which the company Is required to make to the cities and the
Commission every 3 months, and other considerations.
V. 108, p. 1221,
2,500,000 Jan
5 g J-J
em
man:
Phila.
1903
sinking/ Int. at Citizens' Sav. & Tr. Co., Clev., Trus.
c*tf I
or at Chase Nat. Bank, New York.
V. 94. p. 1449.
pref. stock Is redeemable at 110.
Both
Stock.-—The
of Dividend Certificates.—Vvm. A. Tucker.
Central
$2,500,000(
gold—no
fund
Thos. E. Murray, J. Levering Jones, jay Cooke,
Depository,
under
....
for Ft. Wayne & Nor. Indiana Trac. 1st & Ref. 5s, Prcf. and
Sanderson.
see
STOCK AND BONDS—
Date.
Interest.
Outstanding.LastDiv.die ■
Common $5,000,000 ($100)
O-M
$3,150,000 Mar.'20,2%
Pref 6% n-c $5,000,000 ($100)
M & 8
4,000.000Mar. '20,3%
CoU trust M $10,000,000gold)
1910
5 g J-J
3,467.000 Jan
1
1940
sink fund (see text)c*<fcr»tf f Int. at Commonwealth Tr. Co., Bost., Trust.
Notes.—Geo. W. Davison, James C. Brady, Henry Sander¬
son;
which
In 1917 leased (with the right
to purchase for $2,000,000) the Oak Cliff line to the Dallas Ry. at an annual
rental of $115,000 for first 3 years, $120,000 for fourth year, $125,000 for
fifth year, $135,000 for sixth year and $150,000 thereafter.
Franchises of Northern Texas Trac. Co. in Fort Wortn expire In 1973; in
Dallas in 1937; others about 1950; has private right-of-way outside of
cities.
Tarrant County Traction Company in Fort Worth and Cleburne
expire in 1936;
between these cities has private right-of-way
except In
towns iStc.. in which cases its rights expire in 1961.
V. 92, p. 1243.
Road
was completed In Aug. 1912 and began operation In Sept. 1912.
Franchise
in Arlington expires fn 1949.
On Feb. 241913 increased auth. pref. stock from $4,500,000 to $5,000,000 and the corn, from $2,500,000 to $5,000,000 (V. 96, p. 488, 654), and
holders of both classes of stock were given the right to subscribe for $650,000
new common stock at par.
V. 96, p. 790.
In Sept. 1917 received franchises for the construction of additional track¬
age and terminal facilities to handle the heavy traffic incident to the army
activities of Camp Bowie, near Fort Worth; work was begun in Nov. 1917.
An expenditure of $100,000, it is stated, is Involved.
In Nov, 1917 the co. announced an increase in passenger rates from about
2>$ cents to about 2 % cents per mile to cover Federal taxes and increased
costs of operation.
CAL.
SAN JOAQUIN LFQHT & POWER CORP.
ORGANIZATION.—Incorporated
In California on July 19,1910 as a consoli iatlon of the San Joaquin Light & Power
Co.. the Power Transit & Light
Co. (Bakersffeld) and the Merced Falls Gas &
Electric Co.
Absorbed the
Selma Water Works, Madera Water Works, Madera Lt.
& Pow Co
Leramore Lfc.
& Power Corp. and Bakersfield Gas &
Elec. Lt. Co. controls
through stock ownership the TuJe River Co., having
plants on the Tuie
River, Cal.
The Midland Counties Public Service
Corporation (V. 98,
p. 1849), controlled In same Interest, purchases all of
Its power from the
San Joaquin Light & Power Corporation.
In Feb. 1919 it was reported
that the Midland Counties Public Service
Corp. would consolidate with the
San Joaquin Light & Power Corporation
in the near future.
V
108
p.
880.
In Feb. 1920, however, the Midland
Counties Pub. Serv. Corp. with¬
drew its petition for auth. to
carry out this consolidation.
V. 110, p.
562.
Franchises in cities are
perpetual; outside of cities, with two excep¬
tions, extend beyond 1950.
About one-half the total length of transmis¬
sion
lines is on private right of
way.
Supplies electricity for
lighting,
throughout the San Joaquin Valley, Including
Madera, Fresno, Selma, Hanford, Bakersfield
power and pumping purposes
the
cities
of
Merced,
Sanger,
Dmuba and about 50 towns and small
cities; population served,
Distributes gas in Bakersfield,
Kern. Merced and Selma;
a street railway system in
Bakersfield and Kern and furnishes
water for domestic
purposes in Selma and Madera
Rate Increases.—On April 22 1918 was
auth. by the Cal. RR. Comm. to
about 400,000.
operates
effect a
Pi,r>
iGlS
was
new schedule of power and lighting rates.
On May 28
a surcharge of
10%.
In Feb. 1919 auth.
was granted by the Calif. RR. Comm.
auth. to put into effect
t<? add a surcharge of 15% to all bills
V,
108,
p.
685.
Ape., 1920. j
ELECTRIC RAILWAYS
In May 1919 the co. issued $1,000,000 Series "B"
6% conv. debentures,
proceeds being used to reimburse the co. for exts. and
impts. made subse¬
quent to Jan. 1 1917.
V. 108, p. 2123, 2242 , 2529.
In Nov. 1919 the co.
brought out $3,742,000 Series "C" 1st & ref. bonds,
proceeds being used to pay 75% of the cost of constructing an additional
hydro-electric plant on the San Joaquin River with a capacity of 40,000
h. p.
V. 109, p. 2074.
In Jan. 1920 the co. applied to the Calif. RR. Comm. for auth. to
issue
35,000 shares prior pref. stock, proceeds to be used for construction pur¬
poses.
V. 110, p. 173.
STOCK AND BONDS—
Date.
Common $15,000,000 ($100)
Pref. $10,000,000($100)6%cum. '
Interest.
Outstanding,
Maturity.
$11,000,000
Q—M15
6.500,000 Mar'20.1 M
6 g M-N
1,000,000 May 1 1927
$4,500,000
6 g M-N
1.000,000 May 1 1929
Series B
(Int. payable in Los Angeles or New York.
1st & Ref mtge $25,000,000 gi 1910
5-6 F-A
12.994.000 Aug 1 1950
($1,000) sink fund_c*&r*tf/Eqult. Tr. Co.. N. Y.f trus.; int. in N. Y.
San Joaquin L & P Co 1st
MI 1905
5 J-D
2.588,000 June 1 1945
S3,000,000sf ($l,000)c»ntf/Redeemable at 110 and interest.
San Joaquin Power Co -__ntf
6%
25,000
1942
Power Trans & Lt M $2.500-1
1903
5 g J-D
73,000 June 1 1933
000 gold ($1,000)
._tf J Mercantile Trust Co., San Francisco, trustee
Bakersfield & Kern Elec Ryl 1901
5 g J-J
41,000 July 1 1931
$250,000 gold ($1,000) ntf/Unlon Trust Co., San Francisco, trustee,
of Stock.—Capital stock cannot be increased without assent of
three-fourths
Conv
debs
stock
gold
..
Series
Af 1917
($1,000)_.c*tf{ 1919
of both classes.
and thereafter at 101 and int.
Under tne trust agreement the co. covenants
that no further underlying bonds are to be
issued; that no further mtge.
than existed at
May 1 1917 be made; that debentures outstanding and float¬
ing debt will not at any time exceed $4,800,000, and that no dividends
be paid stockholders in excess of
present rate when floating debt exceeds
$300,000.
Provision for conversion into 6% cumulative preferred stock
will be made.
Security Trust & Savings Bank, trustee.
V. 104, p. 1903;
V. 108. p. 2529.
Of the $2,588,000 San Joaauin Lt. & Pow. Co. 1st
5s, $6,000 are held
by co. for sink. fd. purposes and $37,000 alive in sink. fd.
$72,000 Power
Transit & Light Co. 5s in addition to the amount reported
outstanding
are held alive in sink. fd.
$82,000 Bakersfield & Kern Elec. Ry. 1st 5s are
held in sink, fund (in addition to those
reported as outstanding).
Dividends.—Paid 4)4% on pref. stock in 1912; in 1913, 6%; in 1914, 3%;
none to June 1917, when
1)4% was paid; 1)4% quar. since.
REPORT.—-For calendar years (1918 report in V. 109, p. 1178):
Gross
Year—
Expenses
Net
Income.
Taxes.
1918
$2,658,854
$1,492,556
1917
2,134,167
PROPERTY.—The
co.
Income.
$1,166,299
1,238,531
895,636
owns
power
Charges"
(Net).
$685,962
548,924
Balance,
Surplus.
$480,337
689,607
plants with 67,210 h.p.; operates
743 miles of high-tension transmission lines. 33 sub-stations and
2,666 miles
of distributing lines.
On April 24 1919 construction work was
begun
on a
$2,500,000 power plant on the San Joaquin River, near Auberry, Cal.
plant was expected to be completed within a year.
V.108,p. 1826.
capacity. 50,000 acre feet, 132.2 miles of gas mains.
Operates
new
The
Reservoir
10.51
miles
street
railway business in Houston.
Also owns stock of Galv.-Hous. Elec. Ry..
interurban road between Galveston and Houston, 50
miles, and guar¬
bonds, p., I. and s. f.
Franchises expire in Galveston in 1950; In
Houston, 1935.
The interurban Is on
private right-of-way.
$500,000
an
antees its
com. stock is owned by Public Service Investment
Co.
Fares.—In Sept. 1918 the Houston Electric Co., a
subsidiary, was auth.
by the City Council to increase fares from 5 to 6 cents, the new rate to be
merely temporary and to be terminated by the City Council any time it
fit.
sees
Att
a
referqndurft held in Nov. 1918, however, the ordinance
authorizing the co. to increase fares from 5 to 6 cents was defeated by a vote
of 3,460 to 2,111.
V. 107, p. 1919.
The co. thereupon filed a suit hold¬
ing that the Comm. had no auth. to delegate its rate-making powers to
the people and that the referendum election on the 6-cent fare
ordinance
was therefore
illegal.
In Feb. 1919 a decision adverse to the co. was
handed down and the 5-cent fare restored.
was
V. 108, p. 683.
This decision
upheld by the Court of Civil Appeals at Galveston, Tex., on March 20
V. 108, p. 1274.
In Jan. 1920, however, the Federal District Court
an order
restraining the city from interfering with increases in street
fares beyond the 5-cent maximum
provided for in the company's fran¬
1919.
issued
car
chise
charter.
The company has increased fares outside the 2.8 mile zone
cents, making the total fare 8 cents.
V. 110, p. 464.
See also V. 110,
1289.
to 3
p.
In July 1919 the newly installed City Comm. of Galveston,
Tex., repealed
the ordinance, auth. the Galveston Electric Co. to
charge a 6-cent fare,
which had been enacted but recently.
V. 109, p. 172,
In March 1919 issued
$1,500,000 3-year 7% notes, proceeds to be applied
to the retirement of the entire
floating debt and other requirements.
Bonds.—Of the 1st & ref. bonds of 1910 reported outstanding, $1,500,000
($1,370,000 held by public, $22,000 repurchased by the co. and $90,000
held alive in sink, fund) are Series A 6s; $799,000 are Series B, bearing
5%,
and $2,125,000 are Ser. B, bearing 6%, and $8,700,000 are Ser. C. 6s.
$2,881,000 1st & Ref. M. bonds are reserved to retire prior liens (incl. $191,000
held in or for sinking funds) and remaining $13,493,000 bonds
may be
issued at not exceeding 6% int. for add'ns, impts., &c., at
75% of cost
under certain restrictions.
Series A callable at 102)4, others at
105.
Tax
exempt
in
California.
First
and
refunding mortgage contains
sinking fund1 provisions calling
for
payments
of
$145,000 annually
(to be used partly for betterments and additions and partly for re¬
demption of bonds,i Series A bonds having preference over other series)
from 1915-1919; $150,000 annually from
1920-1924 and ranging there¬
after from 2)4% annually of bonds out from
August 1925-1929, incl.,
to
4)4% annually from August 1945-1949, inclusive.
V. 91, p. 1332.
By a supplementary mortgage, holders of Series B 5s were permitted
to exchange them for Series B 6s
upon payment of $100 per bond up to
May 31 1917.
The debentures are redeemable, all or part, Series A at any
time prior to May 1 1922 and S6ries B prior to
May 1 1924 at 102 and int.
Calendar
47
railway
track
in
Bakersfield, supplemented
mobile bus lines in
by
auto¬
outlying territory.
OFFICERS.—Pres.. W. G. Kerckhoff; V.-P.s, A. C. Balch and Ben. ft.
Meyer; V.-P. & Sec., L. M. Farnham; Treas. & Comp., A. E. Peat; Gen.
Mgr., A. G. Wishon.—V. 108' p. 685. 880, 1826, 2123, 2242, 2529* V 109,
p. 1178, 2074; V. 110, p. 173, 262.
FRESNO TRACTION
CO.—A trolley road.
In 1910 Southern Pacific assumed control and
directors' shares.
owns
all the stock except
ORGANIZATION.—Incorp. In Cal. Sept. 22 1903.
V.
108,p.1165.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
$3,988,000
Last Div.&c.
Common. $5,000,000 ($100)-M-S 15
See text
Pre! $ 4,000.000 6 % cum ($ 100)
M-S 15
3,000.000
Mar. *20,3%
Galv Electric 1st M
$2,500.-/ 1905
fig M-N 1,272.000
May 1 1940
000 gold ($1.000)
c*tf Int. at Old Colony Trust Co.,Boston, Trus¬
tee,or at company's agency InNewYork.
1909
6 g A-0
2.817.500
Oct
11954
Int. at Old Colony Tr. Co.. Bosi., Trustee.
Galv-Hous EI Ry 1st M $5,000,000 g guar
c*«fcrtf
Hous Klec Co 1st M $2,500,000 g ($1,000) sk fd_-c*tf
.
1900
5 g F-A
1,677.000
Aug. 1 1925
Int. at Internat. Trust Co., Bost., Trustee.
1919
7%
See text Mar 1 1922
Gen mtge bonds
Secured
notes
* M-S
" 1,500.000 ~
$3,000,000/ 1919
Mar 1 1922
($500 & $1,000) g
c*tf/The Comm'w'th Trust Co., Boston, trustee.
Stock.— Pref. is callable at 120 and accum. div.
Both pref. and com.
are listed on Boston Stock
Exchange
.L?„
Galveston Electric Co.—Of the bonds, $1,026,000 reserved for additions
and impts. at 80% of cost and $202,000 bave been canceled. A
sinking fund
of 1)4% of bonds certified began
July 1 1906.
Callable as a whole or In
part For sinking fund
Int. date at 110 and Int.
on any
on
8ie V. 81. p. 975.
Galveston-Houston
Electric
Ry.—Of
30 days' notice.
the
remaining bonds,
$26,000 are
held
In
trust for benefit of company and
$2,000,000 are reserved for
acquisitions and improvements; $156,500 have been canceled.
Denom.:
coupon, $500 and $1,000; registered, $1,000 and $5,000.
Subject to call
on any Interest day in whole, or In
part for sinking fund, at 105 and Int.
Sinking fund of 1% of bonds to 1944; thereafter 1)4%.
First five pay¬
ments waivable.
Bonds are guar., prin.. int. and sinking fund, by Galv.Hous. Elec. Co.
See V. 90, p. 697.
Houston Electric Co.—Entire Issue, but not any part, can be called on
any Int. date at 107 )4 and int.
Sinking fund of 1 )4 % of bonds outstand¬
ing, payable on Aug. 1 each year.
See V. 74. p. 680.
$823,000 of bonds
not outstanding was held
by this fund on Dec. 31 1919.
Gen. Mtge. Bonds.—Are a lien on all the property of the three
operating
cos., subj, to underlying 1st mtge. bonds, $1,800,000; the entire outstand¬
ing amount are pledged under the 3-year 7% notes.
Notes.—Are a direct obligation of co. and are secured by
pledge of $1,800,000 Gen. Mtge. 7% bonds of the three operating companies.
No
additional underlying 1st mtge. bonds may be issued while
any of these
notes are outstanding.
Additional notes may be issued only if each $1,000
note is secured by $1,200, of Gen. Mtge. bonds.
Red. as a whole, any time,
on 30 days' notice at 101 and int. to March
1 1921, and at 100)4 and int.
thereafter to maturity.
Interest payable in New York and Chicago.
DIVIDENDS.—On common. 1)4% semi-ann. from
Sepo. 1909 to and
incl. Mar. 1912. amount then increased and paid 2% in Sept. 1912.
In
Mar. 1913 increased to 2)4%. in Sept. to 3% and in Mar. 1914 to
3)4%;
Sept.,3)4%. In 1915,Mar.,3)4%. Sept. 1915dlv. omitted. (V. 101.p.845.)
EARNINGS.—Of the combined companies for 12 mos. ending Dec. 31:
Year—
Gross.
Net (aft. Taxes).
Interest. Sinking Funds.
Surplus.
$3,095,151
$819,016
$414,722
$404,294
1918
2,691,332
841,082
350,185
490,897
ROAD,—Operates 166.5 miles single track; standard gauge; 271 passen¬
ger, 5 trailers and 32 other cars.
Power stations have capac. of 6,582 k.w.
OFFICERS.—Pres., Marshall M. Phinney; Sec., Geo. A. Peirce; Treas.,
Henry B. Sawyer; Gen. Mgrs., Stone & Webster Mgt. Assn.—V. 107. p.
1100, 1195, 1482; V. 108, p. 1165, 1274; V. 109. p. 172, 1079.
1919
Leases the Fresno
City Ry,
Purchases power from San Joaquin Lt. <fc Power Co.
co. to sell $49,597 bonds for
(not incl. in amounts reported outstanding).
Fares.—In Sept. 1918 was auth. by the Calif. RR. Comm. to increase
fares from 5 to 6 cents and commutation rates
by 10%.
V. 107, p. 1192.
/
In Dec. 1916 the Cal. RR. Comm. auth. the
exts.
STOCK AND BONDS—
Stock $5.000,000..($100)
Date.
Interest.
Outstanding.
Maturity$5,000,000
$5,000.0001 1904
5 J-J
699,000 July 1 1944
c.ntf/Int. at Union Trust Co., San Fran., Trustee.
Bonds of Leased Company—
Frasno City
Ky first mtgef 1902
6 g J-J
70,000 Jan
1 1922
$150,000 gold ($1,000) c*tf/Union Trust Co., San Francisco, Trustee.
Bonds.—Fresno Trac. 1st M. bonds have a sinking fund commencing in
1909 of $2,500 per annum for first 5 years and increasing $2,500 per annum
for each 5-year period thereafter to $17,500 per annum from 1939 to 1943.
Fresno City bonds have a sinking fund of $3,000 .per annum for first two
years, $5,000 per annum for next five years and $7,500 per annum for
next 10 years, which began Jan. 1 1905.
Bonds cannot be called.
In¬
terest payable In New York and San Francisco.
First
mortgage,
($1,000),
gold
COMBINED
Cal.
EARNINGS.—Incl. Fresno City Ry.:
Gross
Net (after
Other
Interest,
Balance,
Earnings.
Taxes).
Income.
Rentals, &c.
Deficit.
1918
$240,306
$17,438
$22,952
$109,990
$69,600
1917
235,640
32.014
27,530
110.083
50.539
ROAD.—Mileage operated (incl. 8.14 miles leased from Fresno City Ry.),
45.013 miles.
Also owns 8,51 miles of single-track operated
Dy Southern
Pacific Co.
Standard-gauge, 75-lb. "T" rail.
31 electric motor passenger,
3 work cars; 2 trailers, and i electric locomotive.
Years—
OFFICERS.—Pres^ W. F. Herrin, San Francisco; V.-P., Paul Shoup,
Sec.
& Aud., H. A. Culloden, Los Angeles; Gen. Mgr., F. W.
Webster;
Fresno; Treas., M. S. Wade, Los Angeles.—V. 78, p. 1222; V. 107, p. 1192.
GADSDEN, ALA.
ALABAMA CITY GADSDEN & ATTALLA RY.
In Jan. 1920 it was reported that the Gadsden Ry.,
had acquired the properties of the co.
V. 110, p. 359.
tion
Light & Power Co.
No further informa¬
.
ORGANIZATION.—Incorporated under a special charter from
Operates, besides street railway, a light plant, an
of Alabama.
and
a
coal
yard.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Stock $500,000
($100)
$300,000
the State
ice plant
Maturity,
$330,000
1906
5 g M-N
298.000 Nov 1 1936
tf llntereet at Trust Co. of Amer..N. Y., Trust
Bonds.—The unissued bonds are reserved for further additions at
90%
of cost.
Subject to call on any Interest date at 105 and interest.
ROAD.—Operates 11 miles of track, connecting the points named In the
title. Standard gauge. 40 and 70-lb. T rail.
OFFICERS.—Pres., E.T. Schuler, Gadsden. Ala.:
V.-Pres.. G. H.
Schuler, Jacksonville, Fla.—V. 83, p. 817; V. 110, p. 359.
Mortgage
($1.000)
gold/
-
ELECTRIC
CO.—A
holding
company.
ORGANIZATION.—Incorp. in Maine on
May 8
1907.
Controls
through ownership of stock the Galveston Electric Co. and the Houston
Elec. Co., which companies do the entire electric railway and
part of the
electric lighting and power business in Galveston and the entire electric
IND.
per
reorganization plan
In V. 106, p. 1230.
Owns the entire $365,000 common stock of the Gary
Street Ry. (incorp. In Indiana, Sept. 26 1917), the operating;
company, suc¬
cessor to the Gary & Interurban Ry. and East
Chicago Ry. Co., sold at fore
closure Sept. 18 1917.
V. 105. p. 1309.
Contract with Calumet Electric Co.—Guaranty.—A contract dated
Sept. 6
1917, as amended, provides that in consideration of $50,000 in cash, and
Its guaranty of the int. on the 20-year debentures for a
period of five
years
from Oct. 1 1917 (which guaranty is secured bv deposit of $125,000 1st M.
bonds of the Calumet Electric Co., being one-half of the present outstand¬
ing issue), the Calumet Electric Co. shall have
redeem
or
ceive all
an
option for five
years to
pay at par and int. all of said debentures and thereupon to re¬
the common stock of the coimoration.
The Electric Co. is
of
further
to have a renewal for five years of its contract for the furnishing
properties, and, in the meantime, will control the manage¬
through a voting trust agreement under which all of the common
stock of the corporation is to be deposited with three voting trustees, of
whom one shall be a representative of the old Gary & Interurban
Ry.
of power to the
ment
bondholders and the other two of the Calumet Electric Co.
In case the
Electric Co. shall not redeem all of the debentures on or before Oct. 1
1922,
in case it shall default on its guaranty of the payment of int. thereon,
or
then
the common stock of the corporation shall be distributed ratably
the bondholders of the voting trust certificates.
[The Calumet Electric Co. is an Indiana corp. and secures all its elec¬
tric power from the Public Service Co. of Northern Illinois, selling and
distributing the same in the Hammond, Whiting and Gary districts.1
Fares.—In Aug. 1918 applied to the Ind. P. S. Comm. for auth. to
charge a 6-cent fare in and between Gary. East Chicago and Hammond
and an 8-cent fare in certain Other localities.
V. 107, p. 802.
In Jan.
1919 the Comm. denied this application.
V. 108, p. 268.
Upon consummation of the reorganization plan, the following securities
will De outstanding (sanctioned by Ind. P. S. Commission):
among
STOCK AND BONDS.—
Common $800,000 ($100)
Date.
Interest.
Outstanding.
Maturity.
$800,000
72,500
Pref 6% non-cum $72,500(5100)
Gary Street Ry.—
Pref 6% non-cu $365,000(5100)
First Mtge bonds $2,500,000/
($100, $500 and $1,000)
365,000
375.000 Oct
1 1937
1917
_5 g A-0
Central Trust Co. of 111. and Wm. T. Abbott,
~
—-
trustees
Debentures
$800,000
gold/
($100, $500 and $1,000)--.,
Stock.—Preferred
mentioned above.
tice.
Va.
Dividends
are
stock
of
both
Both issues
on
the
1917
cos.
are
common
•
5gA-0
is
red.
as
stock
800,000 Oct
limited
a
to
the
auth.
11937
amounts
whole at par on 30 days' no¬
of the
Gary Street
Ry. Corp. of
limited by voting trust to $10,000 per annum.
Voting Trust.—All the common stock (except directors' shares) is held
under a voting trust agreement for 5 years to Oct. 1 1922.
Trustees are
Mortimer
N.
Buckner,
Frank J.
Baker and Charles W.
Chase.
Bonds.—Remaining 1st M. bonds may be issued ftr additions, ext'ns and
Impts. for not over 85% of cash cost of same, and for repaving and track
renewals necessitated by public orders, for not more than 90% of the cash
GALVESTON, TEXAS.
GALVESTON-HOUSTON
GARY,
GARY STREET RAILWAY CORPORATION.
ORGANIZATION-.—Incorp. In Feb. 1918 in Va.,
cost
of
same.
Callable at
105.
Debentures.—Int. on debs, is guar, during life of voting trust agreement
by endorsement by the Calumet Electric Co., said guaranty being secured
by pledge of $125,000 of that co.'s 1st M. bonds.
Red. at par and int.
on 30 days' notice.
The co. covenants, among other things not to permit
ELECTRIC
48
First M tge.
deprecia¬
any Hen upon the property ahead of the debentures except the
and to expend or set aside annually for maintenance and to offset
tion 14% of gross earnings:
Dividends.—Divs. on com. stock of the Corp. are restricted by
trust agreement to
SI0.000 per annum.
voting
„
s.end. —Yrs. end. June 30-
Drc.31'17.
1918.
1919.
,
.
—Yrs. end. Dec. 31— 6 Mo
EARNINGS.—
1915-16.
1916-17.
$181,333 $318,171 $245,027
61,042
42,954
41,417
27,669
and between Gary and Hammond.
Ind., and a 10-mile line between Gary and Indiana Harbor, Ind.
OFFICERS.—Pres., Frank J. Baker, Chicago; V.-P., Chas. W. Chase,
Gary, Ind.; Sec., R. M. Scheidt, Gary, Ind.; Treas., L. E. Woodward,
Gary, Ind.—V. 106, p. 715, V. 107, p. 802; V. 108, p. 268.
S526.574
93,589
Gross earnings
Net, after taxes
$385,579
ROAD.—Operates 22 miles in Gary
GARY & VALPARAISO
RR."~~
ORGANIZATION.—Incorporated in Indiana on Nov. 19 1917 with
of $10,000 to operate the lines of the Gary Connect¬
ing Rys. and the Valparaiso & Northern Ry., which were sold under fore¬
Wr
authorized capital stock
closure Sept.
18 1917.
$98,020; net, after
taxes, $8,991.
ROAD.—Extends from Chesterton through Woodville Jet. to Valparaiso,
12 miles, and from Woodville Jet. to Valparaiso, 16 miles (see above).
Total
EARNINGS.—For year ending Dec. 31 1919, gross,
taxes, $5,743.
In 1918, gross, $88,885; net, after
mileage operated 28
miles.
OFFICERS.—Pres., Chas. W.
Woodward; all of Gary, Ind.—V.
Chase; Sec.. R. M. Scheidt; Treas.,
105, p. 2272; V. 106, p. 295.
L. E.
GENEVA, N. Y.
GENEVA SENECA FALLS & AUBURN RAILROAD CO.. INC.
ORGANIZATION.—Incorp. May 281913 as successor of the Geneva A
Auburn Ry. sold at foreclosure March 14 1913.
Public Serr. Commission
authorized the sale of $524,000 bonds at not less than 85.
V. 97, p. 298.
The Public Service Commission in May 1915 auth. the issue or $37 150
8% serial notes maturing within 0 years, the proceeds to be used for
additions, Improvements, &c.
The Public Serv. Comm. authorized the company to revise the schedule of
fares and put a new fare zone into effect as of Nov. 1 1916, holding that the
company's revenues were not sufficient to yield a fair return on the property
investment.
Interest.
Date.
STOCK AND BONDS—
Outstanding.
Maturity.
$157,100
504.000 July 1 1943
17,000
See text.
EARNINGS.—For year end. Dec. 31 1918, gross, $105,813; net, after
taxes, $37,069.
In 1917, $107,386; net, after taxes, $18,710.
ROAD.—Extends from Geneva to Cayuga Lake Park through Waterloo
and Seneca'Falls.
Length of main tracks 10.31 miles; sidings, .819 mile;
miscellaneous, .36 mile; total, 17.489 miles.
Ralls, 70 , 80, 90 and 100-lb.
Stock, $200.000
Bonds, $524.000—
Serial
notes
5%
1913
1915
_
6%
T; track standard gauge.
OFFICERS.—Pres., R. R. Quay,
Pittsburgh, Pa.; Sec., L. G. Hoskins,
A Purch. Agt.. W. A. Shiri®y. Waterloo
H. Werry Jr., Pittsb., Pa.—V. 96, p. 1629;
Geneva, N. Y.; Supt., Treas.
N.
Y.;
Gen. Aud., Thos.
V. 97, p. 298.
ERIE RAILWAY
$300,000
gold! 1909
5 J-J
500.000 July 1 1929
($250 and $500)
cjlnt. at Fidelity Trust Co., Ph 11a.. trustee
Income bonds $500,000 ($2501 1909
5 July
500.000 July 1 1929
and $500)
/Int. at Fidelity Trust Co., Phila., trustee
Bonds.—Remaining first mortgage bonds are reserved for extensions,
betterments, Ac.
They are subject to call at 105 and int. on 3 months,
notice.
Int. on income bonds is only payable if earned, and Is non-cum.
They are subject to call at par.
Bonds have no sinking fund. No interest
Stock, $300,000
First
mtge.
$800,000,
has been
—
paid on incomes.
EARNINGS.—For years ending Dec. 31:
Gross
Net
Other
Int.,Taxes
Depr. A
Balance,
Deficit.
1919
$181,288
$31,051
$1,789
$39,241
$6,400
1918
164,509
23,382
1,328
38,389
13,679
Pass, carried during year end. Dec. 31 1919, 716,859; in 1918, 714,256.
ROAD.—Owns 31-29 miles of track.
Operates between Conneaut and
Year—
Earnings.
Earnings.
Income.
A Rentals.
Standard gauge; 65-lb. rail: 8 passenger and
OFFICERS.—Pres.. O. E. Willock, Pittsburgh;
Erie.
Erie, Pa.; Treas., J. R. McDonald, Erie,
Pa.; Mgr., J. M. Smith, Glrard. Pa.
Replace.
6 other cars.
V.-P.. H. E.
Fish,
Pa.; Sec., J. M. Smith, Glrard,
and in every other capacity—leaving the company, on the basis above
described, with only nominal current obligations, with the above minimum
fixed charges and provision for distribution of its net income
.
It is the intent of this offer that either the said plan shall be initiated or
the proceedings for said reorganization by foreclosure shall be begun within
one year from Sept. 30 1918.
No later information.
All assenting Consols, together with all stock (if any) held by the deposi¬
be deposited with the Commonwealth Title
Philadelphia, as depositary. V. 107, p. 1920.
tors of Consols, to
Trust Co. of
ORGANIZATION.—Incorporated in Pennsylvania on
Insurance &
July 20 1903 and
purchased the property of the Schuylkill Traction Co. and the Lakeside
Ry. Co. V. 80,p. 1729. Leases the Schuylkill County Ry. Co.
" .
.
Interest Deferred.—On Sept. 30 1919 Pres. Evans announced that the Int.
due Oct. 1 1919 on the Schuylkill Ry. Co. 1st consol. 5s of 1935 and on the
Schuylkill Traction Co. 1st M. 5s of 1943 would be deferred.
See V. 109,
p. 1700.
Sale Proposed.—See V. 109, p. 1462.
Strike.—See V. 109, p. 1700.
Fares.—In July 1918 the Penn. P. S. Comm. sustained the complaint
of the Borough of Ashland against the company's increase in fares from
6 to 7 cente on May 28 1917 and ordered the co. to restore the old 6-cent
rate.
V. 107, p. 292.
In April 1919 was auth. by the P. S. Comm. to in¬
crease fares to 8 cents, tickets to be sold at 7 for 50 cents.
See also V. 109,
p. 1700.
STOCK AND BONDS—
Interest.
Dale.
Maturity
Outstanding.
$400,000
$400,000 ($50)
Stock,
......
1905
5 g A-0
040.000 April 1 1935
gold ($500 and $1.000)..c*/Int. at Fidelity Trust Co.. Phila., Trustee.
First consol mtge.
Income
$1,450,000,1
150,000 Jan.
5 J-J
1913
bonds
1 1944
Car Trust Certificates
32,000
Bonds.—Of the remaining first consol. bonds, $760,000 are
retire the underlying liens in statement below and $50,000 are
reserved to
in treasury.
The Car Trust Ctfs. mature
subject to call at par and interest.
Are
$4,000 semi-annually.
year ending June 30 1916, gross, $265,402; net,
$116,780; other income, $117; int. and taxes, $101,440; misc. deductions,
$26,380; def., $10,923.
EARNINGS.—For
OFFICERS.—Pres., Powell Evans, Phila.; Sec. & Treas., J. A. McKee,
Gen. Mgr., W. S. Leib, Pottsville.—V. 109. p. 1462, 1700.
Phila.
(1) Schuylkill Traction Co.—A trolley road.
ORGANIZATION.—Chartered Sept. 26 1892. in perpetuity, under the
Act of March 22 1887.
Road opened June 1 1893.
On
Jan. 0 1893 leased for 999 years the Mahanoy City Shenandoah Girardville
A Ashland Street Ry.
On Oct. 5 1893 leased for 999 years the Ashland
Locustdale A Centralia Elec. Ry.
Owns all the stock of these two roads,
Motor Traction
which is pledged under
the first mortgage.
On April 27 1900 leased for 999
the two ends of the company's
and purchased 2.000 of the 5.000
24 1901 leased the Shenandoah A
of
SCHUYLKILL RAILWAY CO.
Reorganization Plan.—On June 10 1918 the following plan of reorganiza¬
presented to the holders of the $640,000 1st Consol. 5s by Pres.
Powell Evans, Phila., who is the owner and holder personally of a substan¬
tial majority of the Consol. 5% bonds and of various amounts of the other
Issues included in the plan.
The plan is subject to the decision of the court
In the co.'s pending litigation concerning its obligation to pay Schuylkill
Trac. Co. 1st M. 5s and the effect of an adverse decision therein.
For de¬
tailed outline of the plan see V. 107, p. 1920.
The provisions are as follows:
(a) The lease of the Schuylkill County Ry. to remain in effect.
(5) The Schuylkill Ry. Co. to purchase from me the entire issue of
Schuylkill County Ry. Co. stock (which I own), subject only to the primary
pledge of the stock as security for the income bonds. (See below.)
(c) Holders of $640,000 Consol. 5% bonds to return to the co.'s treasury
(waiving their rights therein until this is done) 25% of their par value, to¬
gether with all unpaid interest, &c., said one-fourth of said bonds, amount¬
ing to $160,000, to be held in the treasury to provide for future betterments
and (or) extensions.
(d) The Schuylkill Ry. Co. to pay out of net operating income current
Interest and obligations equally (except as temporarily under (e)) on:
$640,000 5% Consol. bonds
stock.
capital
On
Jan.
1 1900),
A Potts¬
Default.—See Schuylkill Ry. Co. above.
STOCK A BOND8—Miles.
1st M. $500,000. g,$500l22*4
A $1,000
Interest.
Outstanding.
Maturity.
1893
5 g A-O
$500,000 April 1 1948
Cont.-Kquit. T.AT. Co., Trustee, Phila.
1893
4 g M-N
150.000 Nov 1 1923
Date.
J Int. at
1st M. Lakeside Ry, g,f
5*4
$150,000, guar'd by (Int. at Cont.-Equit. T. A T. Co., Philadelphia,
Schuylkill Traction., (
Trustee.
New consol mtge. seel
1901
4*4 g J-J
105,000 July 1 1951
text ($1,000), g—c*/Interest at Fidelity Trust Co.. Phila., Trustee,
Power-house
mortgage
Bonds.—The
5.000
...
1st M. bonds of 1893 may be purchased for sink,
fund at
Sinking fund of $10,000 per annum began April 1 1898.
In June
1910 the trustee brought suit for an accounting of net profits from operation
of the properties under the mtge. and asked for the payment of $10,000 or
105.
such
part thereof as can be determined to be due, with interest, for each
from April 12 1905 in which net profits were earned, in accordance
sink, fund provisions.
Auth. amount of consol. mtge. was $2,the outstanding
105 apd Interest,
year
with the
000,000, but mtge. has been closed with $105,000 out.
Of
bonds $36,000 are held in the treasury.
Subject to call at
Sinkino fund of 1% of bonds out became operative Aug. 1
1907
ROAD.—Schuylkill Traction Division, 22*4 miles of track, beginning afe
Locustdale. thence through Ashland, Holmesville to Girardville. forming
there a Y, one branch running through Lost Creek to Shenandoah and the
other branch to Malzeville, Gilberton and Mahanoy City.
Lafceside Divi¬
cars
tion was
Principal.
Existing Bonds (Consols Reduced as Aforesaid)—
$760,000 underlying 1st & 2d M. bonds on system proper
375,000 Schuylkill County Ry. Co. 1st M. bonds
the
Pottsville Street Ry. (13 miles) for 999 years (incorporated Aug.
and bought all of its capital stock.
The Lakeside Shenandoah
ville stock is pledged under consol. mtge.
Plan of Reorganization.—See Schuylkill Ry. Co. above.
miles
Interest.
-.$36,025
18,750
24,000
$1,615,000 Total bonds secured by Mtge.
Total interest, $78,775
$32,000 Existing Car Trust Certificates, principal (with interest)
due in installments ($4,000 semi-ann.)
Also interest on any expenditures on new capital supplied for betterments
required for the proper operation of the entire railway system.
Also annually before any payment on Income bonds an amount at least
equal to 2% of all outstanding Schuylkill County Ry. Co. bonds as a sinking
fund, but annually not less than
L
$5,000
(e) The Schuylkill Ry. Co. to issue $600,000 New Income bonds, viz.: |
$150,000 to retire Income bonds of like amount now outstanding;
160,000 to replace the scaling of Schuylkill Ry. Co. 5% Consols.
275,000 for purchase of entire capital stock of Schuylkill Co. Ry. Co.
15,000 to pay pro rata the past due unpaid dividends on 2,400 shares of
the preferred stock of Lakeside Railway Co.
—it being understood that all the said Schuylkill County Ry. Co. stock so
purchased shall be held primarily as collateral for said Income bonds.
(/) All distributable net income above that needed to pay minimum fixed
charges enumerated in clause d herein, except as to $480,000 5% Consols,
on which 50% of interest is to be paid currently for surrendered coupons
from the time this agreement takes effect, to be employed to carry out the
reduction of bank loans, current bills payable and accounts payable (thereby
releasing the $78,000 of Consols now serving as collateral) until not more
than $10,000 remain unpaid, whereupon all current interest on $480,000
of Consols shall be paid to the full extent of said net income.
(g) The $78,000 of Consols released under clause / above to be sold now
to me (at 75 as above) for all my said claims against the company, and to
be subject to reduction as provided in clause c hereof.
basis
received 6% (without any arrears being due or cumulative)
prior to any net profits being distributed to stockholders.
(i) Provisions hereunder to apply to various securities named herein
other than 1st and 2d M. prior liens and Car Trust Certificates from dates
of their last interest or dividend periods prior to Jan. 1 1918, respectively.
(j) Upon consummation of all the provisions I and all parties hereto are
to release to the company all other interest held by me and them personally
Total. 28 miles.
60 and 70-lt>. T rail.
Extensions of 43
proposed and charters obtained.
Operates 51 motor cars, 4 work
1729.
sion, 5*4 miles.
GIRARDVILLE, PA.
4,80.000 75% of outstanding
charges and other
paid,
until they have
shares
CO.
ORGANIZATION.—Incorporated in June 1909.
Is successor to Oonneaut & Erie Traction Co., sold at foreclosure.
Owns all the stock and
bonds and leases the Conneaut & Erie Traction Oc. of Ohio, which owns
1.99 miles of track.
Franchises are for 999 years.
STOCK AND BONDS.—
Date.
Interest.
Outstanding.
Maturity.
&
distributable after taxes, interest
(h) Any net profits
chargas stated in clauses d and f above, maintenance, &c;, have been
to be distributed to holders of Income bonds on an equal percentage
years the Lakeside Ry., which connects
routes from Mahanoy City to Shenandoah
.
GIRARD, PA.
CLEVELAND
[VOL. 110.
RAILWAYS
and 2 snow sweepers.—V. 80. p.
GLOVERSVILLE, N. Y.
FONDA JOHNSTOWN & GLOVERSVILLE RR. CO.—Steam
electric road.—See statement In "Railway and Industrial" Section.
GRAND
RAPIDS,
and
MICH.
COMMONWEALTH POWER. RAILWAY &
LIGHT CO.
».
ORGANIZATION.—Incorporated in Maine Feb. 19 1910 to carry out
outlined in V. 90, p. 108, 447, for amalgamating certain gas,
electric light, power and street railway enterprises In Michigan.
Controls through stock ownership the following companies:
the plan
Consumers Power Co.
Grand
Rapids Ry.
Michigan Light Co.
Michigan Railway Co.
Manistee Railway Co.
Michigan United Rys. Co.
Saginaw-Bay City Railway Co.
Grand Rapids Holland A Chic. Ry.
8p ngfield (O.) Lt.. Ht. A Pow. Co.
Union Railway, Gas A Electric Co.
Michigan RR. Co.
1
I
On
Dec, 31 1919 constituent companies had outstanding In hands of
public $76,673,500 bonds and $15,567,400 preferred stock.
15 1913 the company acquired (through exchange of new stock
outstanding capital stock of the Union
Ry., Gas A Elec. Co. and the Springfield (O.) Light Co. (V 96. p. 1298)
and the Michigan Rys. Co.
In July 1917 purchased a three-quarter Inter¬
est and in Jan. 1919 the remaining one-quarter interest in a coal mine in
Y. 105. p. 606.
Late in 1917 purchased coal lands
Logan Co.. W. Va.
the
On May
on
basis shown in V. 90. p. 1296) the
in Illinois.
Financing.—Finding Itself unable,
because of abnormal conditions, to
which fell due on May 1 1918,
granted an advance by the War Finance Corp. of $2,400,000 at 7%, to be repaid prior to May 1 1923, on the condition that holders
of the matured bonds take at least 70% of a refunding issue.
Accordingly,
the company offered for each $1,000 bond: (a) $1,000 in new 5-year 7%
secured conv. gold bonds and $25 in cash, representing 2*4% discount on
the new bonds; or (6) $700 in new 5-year 7% Donds, $17 50 in cash, repre¬
senting discount at 2*4% on $700 new bonds, and $300 in cash, with Int.
at 7% on $300 from May 1 1918 to and Incl. Sept. 29 1918.
Holders of $500
and $100 bonds received proportionate amounts.
V. 107, p. 291.
Over
90% of the bonds having been deposited under the plan, it was declared
operative and delivery of the new bonds was begun Sept. 23 1918.
V.
107, p. 1192.
In Mar. 1919 we were informed that all of the old issue had
take care of the $8,047,000 6% conv. bonds
the company was
been refunded.
In June 1919 brought out an issue of $750,000
secured serial 6% notes,
proceeds being used in part in the refunding of $3,700,000 1st M 5s of
the Grand Rapids Ry. Co., due June 1 1919 (see that company on subse¬
quent page).
V. 108, p. 2433.
The $5,950,000 1-year 7% notes due Nov. 1 1919 were refunded by a
similar note issue due Nov. 1 1920.
In Feb. 1920 $2,380,000 of these notes
paid off.
In Mar. 1920 the co. anticipated the payment of $250,000 secured serial
7% notes maturing May 1 1920.
were
ELECTRIC
Apr., 1920.]
Interest.
Outstanding.
Maturity.
Q-F
S18.58o.000
See text
Q-F
17.953,000
See text
Secured conv bonds $8,047,000/1918
7 M-N
7,828,250 May 1 1923
($50. $100, $500 & $1,000)-(Bankers Trust Co., New Y'ork, trustee.
Date.
STOCK AND BONDS—
Common ($100)
Preferred (6% cum) ($100)
1919
7 g M-N 1
.1,722,500
See text
Secured serial notes $2,000,Detroit Trust Co., Detroit, Mich., Trustee.
000($100,S500&$l,000)g c*L
620,000
See text
Secured serial notes $750,0001 1919
6 g J-D
New York, trustee.
($100, $500 & $1,000) g~c*JBrooklyn
One-year secured notes g
1918
Scrip
1918
Scrip
1919
Scrip
1920
Stock.—Preferred stock is
Trust Co
7%
6%
6%
6%
3,570,000 Nov. 1 1920
1,047,749 Feb. 1 1924
1,101,642 Feb. 1 1925
Feb.
1 1926
redeemable at 105 and accrued dividends.
$11,249,000 com. stock of the Consumers
Bonds.—Bonds are secured by
convertible into an equal amount of pref. stock at par.
with com. stock in the amount of 30% of face value of bonds converted.
Notes.—The secured serial 6% notes mature $100,000 annually June 1
1920 to 1923, inclusive, and $350,000 June 1 1924.
Are secured by pledge
of $1,200,000 (entireissue) gen. mtge. 5-year 6% bondsof the Grand Rapids
Ry. Co., due June 1 1924.
Red., all or in part, any time upon 30 days
notice at 101 and int.
Interest payable in N. Y.
Tax refundable in Penn.
V. 108. p. 2433.
The secured serial 7% notes mature $250,000 each May
1 from 1920 to 1923 incl., and $1,000,000 on May 1 1924.
$250,000, due
May 1 1920, were retired in Mar. 1920 and $27,500 are held in treasury.
Secured by pledge of $4,000,000 Michigan RR. Gen. Mtge. 6s, due May 1
1924.
Red. at 101 and int. on 30 days' notice.
Int. payable in New Yojrk.
Power Co. and are
Dividends.—Quar. divs. of 134% on pref. have been paid since organiza¬
tion.
The Feb. 1918 div. was paid in 6% scrip dated Feb. 1 1918 and due
on or before Feb. 1 1924.
Divs. at the same rate are being paid regularly
in similar scrip.
First div. on common—1 %—paid May 1 1913; same rate
quarterly to and including Nov. 1917.
Feb. 1918 dividend was passed.
V. 106, p. 498.
None since.
Condensed
Earnings
Statement for
Years ending Dec. 31.
1918.
1919.
$2,345,009
1,606,535
earnings
$2,250,775
790,355
$2,000,484
$3,041,130
$221,785
1,268,331
stocks
$1,176,818
823,665
$3,951,544
Earnings on sub. company
Interest, &c., earnings
Gross
1917.-
$218,135
811,186
20,260
1,077,180
$189,924
672,649
28,932
1,077,010
$1,341,948 def.$126,277
$1,072,615
Deduct—
Expenses and taxes.
Interest charges
Amortization of debt discount
Dividends on preferred
Balance
for
- _
stock—
common
stock
42,300
1,077,180
divs.
replacement and depreciation—
Subsidiary Companies Year end. Dec. 31.
Net (aft.Tax.)
Int.,&c.
Pref.Dirs.
Surplus.
Combined Earnings of
Gross.
Year—
--$25,964,899
.21,918,961
1919
1918
$8,935,596
$6,516,468
6,988,216. 6,037,313
$1,077,180
1,077,180
$1,341,948
def126,277
constituent companies, owns and oper¬
electric railways serving 100 cities and towns with over 880 m. of single
PROPERTY, &c.—Through its
t
ates
track; revenue pass( carried during year end.
electric light and power companies serving 160
Dec. 31 1919, 111,660,896
cities and towns with sales
ended Dec. 31 1919 of 465,332,748 k.w.h.; 21 hydro¬
and 20 steam electric plants with an installed capacity of
265.000 h. p., high-tension transmission
lines aggregating 1,450 miles
in length; gas companies serving 15 cities, with sales during the year ending
Dec. 31 1919 of 3,372,341,600 cubic feet; miles of gas mains, 982-53.
during
the
year
electric plants
^
?
OFFICERS.—Pres., Geo. E. Hardy; V.-Ps., C.
M. Clark, Phila., John
Cobb; Sec. & Trea., Jacob Hekma; Asst. Sec. & Asst.
Treas., C. A. Pearson Jr., Phila.; G. II. Bourne, N. Y.; and Geo. Sprague Jr.
—-V. 107, p. 1192; V. 108, p. 77, 578, 1056, 1822, 2022, 2433, 2528; V. 110,
p. 261,359, 561. 657.
C. Weadock and B.C.
(1)
Michigan Railway.
ORGANIZATION.—Incorp. July 22 1909 as the Michigan & Chicago
Ry. and on Mar. 21 1914 changed its name to Michigan Ry.
On Jan. 1
1916 leased for 999 years the Mich. United Rys. (formerly leased to Mich.
United Traction Co.).
Owns entire cap. stock of the Michigan RR. Co.,
which leases the Grand Rapids Holland & Chicago Ry.
STOCK.—Has an auth. issue of
$6,000,000 com. stock, of which
000 is outstanding (all owned by the Commonwealth
OFFICERS.—Pres., B. C. Cobb; V.-Pres., Frank
Collins; Sec.,
$4,392?-
Pow. Ry. & Lt. Co.).
Silliman Jr. and J. F.
J. W. Glendenning; Treas., A. G. Bray.—V. 107, p. 10Q4._
(a) Michigan Railroad.
ORGANIZATION.—Incorp. April 17 1919 in Michigan
and acquired the
railway properties formerly owned by the Michigan Railway (for history, see
"Electric Railway" Section of March 29 1919).
Leases for 999 years from
Jan
1 1916 the Grand Rapids Holland & Chicago Ry.
Date.
Interest.
Outstanding.
Maturity
;
$4,000,000
($100, 11919
6 g M-N
4,450,000 May 1 1924
$500 and $1,000) gold_e*.tf /Equitable Tr Co, N. Y., & Mich Tr. Co.,tr.
General mtge $4,000,000 gold. 1919
6%
4,000,000 May 1 1924
1
STOCK AND BONDS—
Common stock $5,000,000
1st M bds $10,000,000
authorized total of $10,000,000,
issued in series bearing different rates of interest, but not to
In addition to the $4,500,000 outstanding, $500,000
may be issued under certain conditions; the remaining $5,000,000 may be
issued for not to exceed 75% of actual and reasonable expenditures made
after May 1 1919 for additions, extensions, &c., under certain restrictions.
Sinking fund will retire semi-annually, $50,000 of bonds of this issue,1 either
by purchase in the open market or by redemption at 101 and interest.
$50,000 in sinking fund in April 1920.
A general reserve fund is also
provided under which the company must either expend annually or
deposit in cash with the New York trustee an amount equal to not less
than 20% of its gross earnings, to be expended for maintenance, repairs,
replacements and renewals, for the purchase or retirement of bonds of
this Issue, or for extensions, enlargements and additions.
Such expendi¬
tures for extensions, enlargements and additions shall not be used as a
basis for the issuance of bonds, except as the general reserve fund is reim¬
bursed to the extent of moneys used or withdrawn therefrom for such ex¬
penditures.
This fund is distinct from and has no connection with the
sinking fund.
Callable at 101 and int. at any time on 45 days' notice
Int. is payable In N. Y.
Tax-exempt in Michigan.
The gen. mtge. is
junior in lien in every respect to the first mtge.
V. 108, p. 2022. The
$4,000,000 bonds of this issue shown as outstanding are pledged under the
Commonwealth Power Ry. & Lt. Co.'s serial notes of 1919.
Bonds.—The first mtge. bonds have an
which may be
exceed 6% per annum.
operates an interurban electric railway 47.64 miles
Flint through Saginaw to Bay City, with branch to
Battle Creek, 52.05 miles, and a new
high-speed interurban line, 58.52 miles, extending from Grand Rapids to
Kalamazoo.
Construction on this line completed in Dec. 1914 and regular
service was begun May 17 1915.
Leases the Grand Rapids Holland &
Chicago Ry., 76.48 miles.
OFFICERS.—Pres., B. C. Cobb; V.-Ps., Frank Silliman Jr. and J. F.
Collins; Sec., J. W. Glendenning; Treas., A. G. Bray.
Office, Jackson,
Mich.—V. 107, p. 291, 697, 1004; V. 108, p. 1721, 1823, 2022.
ROAD.—Owns and
long, extending from
^
United Rys.—A third rail and trolley system.
LeasedTo
Michigan Ry. Co. for 999 years from Jan. 1 1916.
ORGANIZATION.—Incorporated in Michigan on March 31 1909 and
on May 1 1906 took over the Michigan Traction Co., the Michigan Traction
Extension Co.. the Jackson & Battle Creek Traction Co. and the Lansing &
Suburban Traction Co.
The Lansing & Jackson Railway Co. has also been
deeded to the Michigan Un. Rys.
In 1908 purchased Jackson Consolidated Traction Co.
V. 84, p.1183.
and V. 87. p 285
Latter company's franchises in Jackson expire in 1960.
The City of JackBon has the right to purchase the Jackson Consolidated
Traction at an appraised value in 1930 and each 5 years thereafter
Fares.—On April 28 1919 the city of Battle Creek, Mich., auth. the co.
to restore the 6-cent fare, with tickets to be sold at 9 for 50 cents and workIngmen to have a flat 5-cent fare during certain hours.
V. 108, p. 2023.
Compare V. 108. p. 1721. under "Michigan Railway."
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Common. $0,000,000 ($100)
$6,000,000
Pref $1,000,000 ($100) 6% cu_
M-S
1,000.000
See text
1st & ref mtge $12,500,000/ 1906
5 g M-N
9.927,000 May 1 1930
gold ($1,000. $500. $250.{Int. at Columbia Tr. Co., N. Y., trustee,
$100 and $50)
c&r.tf I
or Nat. Provincial Bk. of Eng., London.
Date.
STOCK AND BONDS—
f
Mich Trac 1st mtge
$700,000 ($1,000) g c*_ntf
1901
Interest.
Maturity.
$148,000 Jan
11921
Outstanding.
5gJ-J
(Interest at New York Trust Co., Trustee.
Michigan Trac Ext 1st mtge/ 1903
5 g J-D
259,000 Dec 1 1923
$500,000 ($1,000) g—c_tf ,Int. at Columbia Tr. Co., N. Y., Trustee.
1903
5 g J-J
1.200,000 Jan
1 1923
mortgage, $1,200,000 ($1.~ Interest at Citizens' Savings & Trust Co.,
Cleve., Trustee, or First Nat. Bk., N. Y.
000) gold
c*..tf
Jackson Consol Trac 1st mtge I 1904
5 g M-N
790,000 May 1 1934
$1,000,000 gold ($100.$500 Interest at Guardian Trust Co., New York,
Jackson & Battle Creek first
Trustee.
c*tf
and refunding bonds, sufficient are
liens and remainder for addns., bettermts and impts,
subject to call at 110.
V. 82, p. 1157.
See also V. 87. p. 167, 285; V. 88,
p. 1437.
Bonds are listed in London.
V. 90, p. 914. The Jackson Consol.
Trac. Co. bonds are subject to call on any int. date at 105.
On the Michigan Traction Co. bonds a sinking fund of 5% of gross earn¬
ings commenced In 1903. to be used in buying bonds at not to exceed 110;
otherwise to be invested in other standard securities.
V. 72, p. 391;
$552,000 Mich.Trac. 1st M.bonds and $241,000 Mich. Trac. Ext. 1st M.
bonds were held in sinking fund on April 1
1920 and are not included In
and
$1.000)
Bonds.—Of the
$12,500,000 first
reserved for prior
the
above.
amounts
The Jackson
&
Battle Creek
bonds are subject to call In any amount
105 and interest.
V. 75, p. 1147.
Dividends.—6% Is being paid on preferred stock.
REPORT.—Earnings are no longer reported separately.
after 10 years at
ROAD.—Operates all city lines in Jackson, Battle Creek, Kalamazoo
interurban lines between Jackson, Battle Creek and Kala¬
and between Jackson, Lansing and St. Johns, Lansing andOwosso,
and from Jackson to Grass Lake and Wolf Lake; total operated, 261.13 m.
Through service between Jackson and Lansing began in Nov. i909.
Op¬
erates through service to Detroit over Detroit United Ry. lines under traffic
V. 96, p. 1423; V. 108, p. 2023.
agreement, connecting from Jackson.
and Lansing and
mazoo,
(c) Grand Rapids Holland & Chicago Ry.
Com. Pow., Ry.&Lt. Co. owns all the pref. and practically
Leased to Michigan RR. for 999 years from Jan. 1 1916.
all the com. stk.
ORGANIZATION.—Incorporated in Michigan in July 1904 and Is a re¬
organization on Aug. 1 1904 of the Grand Rapids Holland & Lake Michigan
Rapid Ry.
See V. 79, p. 627.
Power is supplied to company by Con¬
sumers
Power Co., but company maintains own station in readiness to
operate in case of emergency.
Franchises in city of Holland and village
streets expire in 1928 to 1930; remainder on private rights of way.
STOCK AND BONDS—
Common. 5500,000
Date.
Interest.
-
Outstanding.
$487,900
Maturity
Pref, $850,000.6%836.800
1st mtge. Grand Rapids Hoi.f 1900
5 g F-A
1,475 000 Aug 11920
& Lake Mich, $l,500,000{Int. atCont. & Comml. Tr. & Sav. Bk., Chic
gold ($500 and $l,000).ntf I
Trustee, or at Guaranty Trust Co, N. Y.
Bonds.—A sinking fund is provided of $5,000 per annum for first 5 years.
$10,000 per annum for second 5 years, $15,000 yearly for third 5 years and
$25,000 per annum for fourth 5 years.
Bonds are not subject to call.
ROAD.—Operates 76.48 m. of track from Grand Rapids through Holland
to Macatawa and
Saugatuck, with steamer connection at Holland for Chic.
78, p. 702; 768; V. 79, p. 627; V. 96. p.
-V
1422;. V.100, p. 140.
(2) Union Railway, Gas & Electric Co.
Merger.—Under the plan dated April 26 1913, practically all the $5,250,000 pref. stock was exchanged for $5,250,000 new pref. and $525,000 new
com. stock of the Commonwealth Pow., Ry. & Lt. Co., and the $6,000,000
com. for an equal amt. of new com. or $1,500,000 pref. and $4.500.000 com.
ORGANIZATION.—Incorporated in New Jersey June 29 1909 and
acquired practically all of stocks of Springfield (111.) Ry. & Light Co.
(which has since been merged with this company), the Rockford (1110 &
Interurban Ry. Co., the Peoria Light Co., and the Evansville Light Co.,
per plan in v. 88, p. 1501; also all the stock and bonds of the Janesville
Traction Co. ($125,000 stock, $50,000 bonds), and all the stock ($497,500)
and all the first refunding bonds ($382,000) of the De Kalb-Sycamore &
Interurban Traction Co.
On Dee. 11 1916 the stockholders voted to
dissolve the Evansville Light Co., which owned the entire $3,000,000 com¬
mon stock and $950,000 of the preferred stock of the Public Utilities Co.
The latter was incorp. in June 1912 and merged the Evansville & South¬
ern Ind. Trac. (see "Elec. Ry. Sec." of May 1912), Evansville Gas & Elec.
Lt Co. and Evansv. Pub. Serv. Co.
On Oct. 14 1912 Circuit Judge Wil¬
liam Biakey sustained the demurrer of the Public Utilities Co. In a suit
brought to dissolve the company, holding that the consolidation was in ac¬
cordance with the statutes (V. 95, p. 1040), and in Dec. 1912 he dismissed
the suit. V. 95, p. 1747. The Union Ry, Gas & Elec. Co. owns $1,993,600
6% cum. pref. and all the $5,000,000 com. stock of the Cent. Illinois Lt. Co.
(V. 99, p. 1132) which was incorp. in April 1913.
In March 1917 Cent. III.
Light Co. Increased its auth. cap. stock from $5,500,000 to $20,000,000. The
Union Ry., Gas & Elec. sub. cos. own and operate street railway properties
in Springfield and Rockford, 111., Evansville, Ind., and Janasville, Wis., and
interurban lines from Rockford to Freeport and Belvidere, III., through
Beloit, Wis., to Janesville, Wis., from De Kalb to Sycamore, III., and from
Evansville to Princeton and Patoka, Ind.; also gas, electric and steamheating properties in Peoria, Springfield and Pekin, 111., and Evansville,
Ind.; electric light and power and steam heat in De Kalb and Sycamore,
Til
and electric properties in numerous other cities and towns in Illinois.
Sub. Co. Fare Increase.—In Dec. 1918 ticket fares on the Rockford &
Interurban Ry. were inereased to 2.6 per mile and cash fares to 3 cents
per mile.
V. 107, p. 2477.
In Sept. 1919 the same company was auth. by
the Illinois P. U. Comm. to charge a 6-cent fare in Rockford.
V. 109, p.982.
In Nov. 1919 fares in Rockford were raised to 7 cents.
The $3,000,000 5% notes due April 1 1919. were retired at maturity, and
the company Issued in connection therewith $1,500,000 6% notes dated
Jan. 1 1919 and due Jan. 1 1922.
V. 108, p. 1391.
.
Outstanding.
Maturity.
$6,000,000
See text
6 Q-J
5.250.000 Apr. '20, V
1909
5 J-J
3 990.000 July 1 19c
($500 and $1,000) -—c*_tf I Commercial Trust Co.. Phila., Trustee.
Gold notes.
1919
6%
1.500.000
Jan 1 1922
Springfield Ry. <Sc Light Co.—
Springfield Ry&Lt coll tr MJ 1903
5 g J-D
3.075,000 June 1 1933
$5J)0O.0OO g ($1,000) c*.tflFidelity and Columbia Tr. Co., Louisv.,trus.
8pringfield Con
Ry consol f 1893
6 g J-D
750,000 June 1 1933
mtg $750,000g($ 1,000) c.tf(Columbia Trust Co.. Louisville. Trustee.
Rockford & Interurban Ry. Co.—
Rockford
&
Inter-Urban-f 1902
5 g A-O
1.705,000 Oct
11922
1st mtge.
gold ($500 and/Interest at First Nat. Bk., N. Y., or atCon$1,000) $3.000.000~c*~ntf I
tinen. & Com. Tr. & 8av. Bk., Chic..trus.
1903
5 g M-N
541.000 May 1 1923
Rockford
&
Freeport
first
mtge, $750,000. gold, gu Int. at Con. & Com. Tr. & Sav. Bk.. Chicago
Trustee
p & i ($l,000&$500)c»_ntf
1905
6* g A-O
966.000 Oct
11930
Rockford Bel & Janesville 1st
STOCK AND BONDS—
Common $0,000,000
Date.
Interest.
($100).—
Pref $12,000,000 cum ($100)
Collateral trust mtge, gold/
&
-
mtge g ($1,000) s
Frankenmuth; one from Allegan to
(b) Michigan
49
RAILWAYS
f __c*_t/( Int. at Cont. & Com. Tr
Trustee, or First Nat
& Sav. Bk., Chic.,
Bank. New York.
& Interurban Trac. Co.—
De
Kalb-Sycamore Electric/ 1907
J-D
5.000
1922
first mortgage
ntfllnt. atCont.&Com.Tr. & S. Bk.,Chic.,Tr
Central Illinois Light Co.—
Peoria Gas & Elec. Co. 1st M.J 1903
5 J-J
2.500.00'» Jan
11923
$2,500,000 g ($1,000) ..c*tflBankers Trust Co.. New York, Trustee.
Cent 111 Lt 1st & ref M $15,-1
1913 5 g A-O
4.410,000 April 1 1943
000,000 ($100. $500, $l,-{Bankers Trust Co.. New York. Trustee.
000)
c*(
De Kalb-Sycamore
Public
Utilities Co.—
Ref/ 1919
6 g J-J
Mtge $15,000,000
($100,{Bankers Trust Co.,
$500 & $1,000) gold-_.c*tf I
Pun Util pref $3,000,000 cum.,
6 J-J
Evansville El
Ry
1st mtge/ 1901
4 g M-N
Public Utilities Co 1st &
3,000,000 Jan 1 1929
N. Y.. Trustee.
2.527 300 Jan
20,3%
May 1 1921
Y , trustee.
Evansv
&
Prince
1st mtgef 1903
5 g A-O
280;000 April 1 1923
$400,000 gold($l,000)sink-{Int. atCit. Sav. & Tr Co. Cleve., Trustee.
Ing fund
c&r .tf (
or at First National Bank Mew York.
$1,200,000 g ($1,000)
Evansv Gas & El Lt 1st
mortgage
$1,250,000
($1.000)
1.200.000
.c*tf] Int. at Farmers' L. <fc Tr Co., N
& reff 1902
5 J-D
1.180,000 June 1 1932
gold/Int. atCont. & Com. Tr & Sav Bk
Chic.,
c* ,tf I
Trustee, or at First Nat Bk
New York.
Stock.—Pref. stock is subject to call at 105 and accrued dividends
Bonds.—The Union
Ry.. Gas & Elec. coll. trust mtge
is secured by de-
onds
gofiit of practically all stocks (com & restrictions (V 89 p cos Additional
be issued only under rigid pref.) of subsidiary
226).
Interest
may
Is
payable at HodenpyI, Hardy & Co., N. Y., and E W Clark & Co.. Phila.
int. on 60 days' notice.
They are convertible
Bonds redeemable at par &
ELECTRIC
50
Into pref. stock at par.
V. 89,
p. 226; V. 93, p. 528.
The 3-year notes
Ry. G. A E. Co. and underlying companies,
Interest payable at office or agency of company
in New York. Bankers Trust Co., N. Y., trustee.
Additional notes may
be issued with certain restrictions.
See V. 102, p. 1541.
secured by bonds of the U
are
aggregating $2,250,000.
Springfield Railway & Light Securities.—Of the Springfield Railway A
Light collateral trust mortgage of 1903.
$75,000 are reserved for addi¬
tions and improvements to constituent companies and $750,000 for prior
liens.
The bonds are subject to call on 00 days' notice at 107
and
Int.
Interest is payable at Columbia Trust Co., Louisville, and at Hodenpyl. Hardy & Co., Inc., N. Y.. and E. W. Clark & Co., Phlla.
Int. on
Springfield Consol. Ry. bonds Is payaole at Fidelity and Columbia Trust
cos., Louisville, and at Hodenpyl, Hardy & Co., Inc., N. Y.
Rockford
Interurban Ry.
of 5% of
&
Inter-Urban
bonds
Securities.—Sinking fund on Rockford &
receipts commenced in 1908.
$382,-
[Vol. 110.
RAILWAYS
OFFICERS—Pres., B. S. Hanchett; V.-P., B. C. Cobb; V.-P. A Gen.
Mgr., L. J. De Lamarter; Sec. A Treas., W. E. Livingston.
Office, Grand
Rapids, Mich.—V. 106, p. 395, 499; V. 107, p. 2289; V. 108, p. 2122, 2433;
V. 109, p. 887.
Saginaw-Bay City Railway
(5)
Co.
Entire stock (except directors' shares) is
A
„
.
•
T
owned by Com.Pow.,Ry.ALt.Co,
is a consolidation of the Saginaw
Valley Traction Co. and railwav dept. of the Ray City Traction A Elec. Co.
ORGANIZATION.—This
company
Fare Increase.-—In July 1918 was authorized to charge a 6-cent fare
In Saginaw, this franchise, however, was revocable and in April 1919 the
people of Saginaw voted it down.
Y. 108, p. 1276.
On July 31 1919,
however, an ordinance was passed providing for a 6-cent cash farei with
labor and school tickets at 5 for 25 cents.
This ordinance was approved
by the electors Sept. 9 1919.—V. 110, p. 465.
STOCK AND BONDS—
gross
Date.
Interest.
Outstanding.
Maturity.
All owned by Commonw. Pr., Ry. A Lt. Co.
1910
5 M-S
$1,559,000 Mar 1 1935
500 of bonds In add'n to those reported outstanding above are held in the
•Ink. fd.
Add'l bonds can be issued for extensions and Improvements at
Stock. $2,600.000
The entire issue is subject to call at 105 and interest.
The
Rockford & Freeport bonds are assumed, prin. & int., by the Rockford &
Inter-Urban Railway Co.; $84,000 are held in sink. fund.
A sinking ftind
$5,000,000 ($1.000)./Michigan Trust Co., Grand Rapids, Trustee.
Saginaw Vai Tr 1st M. $850.-1 1899
7 g F-A
610.000 Feb
11923
000. g ($1,000 each)-c*ntf lint, at Boston Safe Dep. A Tr. Co., Trustee.
Bonds.—Of the 1st A ref. bonds, $610,000 are reserved to retire Sag. Va!.
85% of cost.
equal to 5% of
gross earnings began In 1910.
Bonds are subject to call
105 and Interest.
V. 78, p. 1276.
A sinking fund on the Rockford
Belolt A Janesville bonds began in 1915 of 2% of gross earnings of that
division.
They are subject to call at 102 >4 and interest. Tbev are guar¬
at
anteed, p. & I., by the Rockf. & Inter-Urban. $34,000 in
s.
f. Mar. 1 1920.
First and refunding
Trac. bonds; remainder for 85% of cost of additions. Ac.
Red. on any Int.
on 60 days' notice at 105 and int.
Int. at Hodenpyl, Hardy A Co..
New York
date
Sag. Val. Trac. bonds originally bore int. at 5% and matured
1920, but were extended for 3 years at 7%.
The extension agree¬
provides for a sink, fund of $75,000 (to be paid in three installments)
to be used to acquire bonds at notexceeding 101 and int., bonds so acquired
to be canceled.
The extended bonds are tax-exempt in Mich.—V. 110,
p. 465.
ROAD.—Operates about 64 miles of street railway track in Saginaw and
Bay City, incl. Interurban line between the two cities.
The
Feb.
De Kalb-Sycamore Electric.. $125,000 in sinking fund.
mortgage!
1
ment
Centra I Illinois
Light Co. Securities.—Peoria Gas & Electric bonds are sub¬
ject to call at 105 and Int.
Int. thereon Is payable at Hodenpyl, Hardy A
Co., Inc., N. Y.
Sinking fund of 5% of gross earnings began Jan. 1 1910.
Sinking fund raav be used by company for additions to property against
which no bonds have been issued.
Central Illinois Light bonds are red. at
105 and accrued int. on 00 days' notice.
Of the remaining bonds $2,500,000
are reserved to retire Peoria Gas & Electric 1st M. 5s, while remainder are
reserved for acquisition of new property, additions, impts., Ac., under cer¬
tain restrictions (V. 99, p. 1132).
Sinking fund of ^ of 1%> p. a. began
April 1 1917, of total amount of bonds of this issue outstanding and all
underlying issues for the purchase of these bonds (or call at 105) or for ac¬
quisitions, impts.. &c.
V. 99, p. 1132.
Public
Utilities Co. Securities.—$2,660,000 1st & Ref. M. bonds are
a like amount of underlying bonds.
Additional bonds
be issued in series, at different rates of Interest not exceeding 6% per
annum, to reimburse the co. for 75% of cost of add'ns, ext's, Ac., under
certain restrictions.
A general reserve fund is provided for under which
the company must expend or deposit in this fund in each calendar year
an amount equivalent to 20% of gross earnings derived from the railway
properties, 15% from the electric light and power, and 12% from the
gas and steam heating properties and of all other income, to be expended
for maintenance, renewals, ext's, Ac., and the purchase and cancellation
of bonds of this issue or underlying bonds.
Red. at 102 and int. on any
int. date to and incl. Jan. 1 1924 and thereafter at 101 and int.
V. 108,
p. 269, 379.
The Evansvllle Gas & Electric Light Co. must call at 105
and int. $10,000 annually on June 1 1913 to 1922, inclusive, and $15,000
on June 1
1923 to 1932 inclusive; $70,000 have been retired.
They are
subject to call at 105 and interest.
The Evansville & Princeton first 5s
have a sinking fund of $10,000 per annum, which began Feb. 1 1908, said
fund to be invested in the bonds at 105, beginning with No. 1.
$70,000
have been redeemed.
Whole issue of these bonds may be called at any
reserved to retire
may
L. W. Prior of Cleveland is co-trustee of this mortgage.
Evansville Elec. Ry. bonds cannot be called.
OFFICERS.—Pres., B. C. Cobb; V.-Ps., H. T. Wickes, J. E. Davidson
and J. A. Cleveland; Sec.. J. W. Glendening: Treas., A. J. Bray; Asst. Sec.
A Asst. Treas., S. E. Wolff.—V. 107, p. 502; V. 108, p. 1276; V. 110, p. 465l.
(6>
instead of a holding company and on July 20 1915 it was granted
certificate of authority to do business in Michigan. Y. 99, p. 1528, 1597;
101, p. 369.
At the same time the RR. Comm. approved the then
company
a
V.
outstanding issues of common and preferred stocks and 1st lien and ref.
5% bonds and authorized the company to issue additional bonds from time
to time upon procurement or retirement of the underlying bonds shown in
the table.—V. 101, p. 369.
In Jan. 1916 acquired the Cadillac Water &
Lt. Co. and the electric property of the Manistee Power & Light Co.
Amalgamation.—-In Jan. 1920 a plan for the amalgamation of the Michi¬
gan Light Co. with this co. was put into effect.
Under this plan the holders
of both the com. and pref. stocks of the former co. exchanged their holdings
(par for par) for stock
In Feb.
Suar. 1since to and1. Including Apr. 1920. First div. on com.—Pow., Ry.
.pril
1913; July
1%; Oct.. 1 %.
In 1914, Jan., 1%,
Com. 1%—paid
A Lt. Co.
owns
practically all the stock and dlvs, no longer made public.
EARNINGS.—For calendar years:
12 Mos.—
Gross.
Over. Exp.
$7,219,008
6.545,321
1919
1918
Net.
$2,792,002
2,286,263
$4,427,006
4,259,057
Fixed Chgs.
$1,875,983
1,753,398
Bat.. Sur.
$916,019
532.865
ROAD.—Rockford & Interurban operates 36.28 m. of trolley in Rock¬
ford, 15 miles between Rockford and Belvidere; also 30 miles between Rock¬
ford and Freeport, and 35 milek between Rockford, 111., and Beloit and
Janesville, Wis.; also a 6.39-mile extension to Camp Grant.
Total,
123.67 miles.
Springfield Gas & Elec. Co. operates 43.94 miles in Spring¬
field.
Janesville Traction Co. operates 6.52 miles In Janesville, Wis., and
De Kalb-Sycamore & Interurban Traction, 8 miles, connection De KaJb and
Sycamore, 111.
Public Utilities Co. operates about 69 miles in Evansville
and between Evansville, Princeton and Patoka, Ind.
OFFICERS.—Pres., G. E. Hardy; V.-Ps., C. M. Clark and B. C, Cobb;
2343; V. 106, p. 608;
Sec. & Treas.. Jacob Hekma, New York.—V. 104, p.
V. 108, p. 1391.
Springfield (O.) Light, Heat & Power Co.
entire Com. stock is owned by Com. Pow., Ry. A Lt
$
ractlcally
ORGANIZATION.—Incorporated in Ohio in
extend beyond maturity of bonds.
STOCK AND BONDS—
Date.
Sept. 1908.
Co.
Franchises
Interest.
Outstanding.
Maturity.
$1,000,000
u
493,700
t_„
730.000 April 1 1933
Spring Lt, H A P gen A ref M f 1913
5 A-O ,
$5,000,000 ($1,000).
Red (Int. at N. Y. and London.
Mfch. Trust
at 105 and Interest-.c»ntf I
Co., Grand Rapids, Trustee.
Springfield
Light, Heat Af 1909
5 F-A
638,000 Feb 1 1929
Power first mortgage..-tf lint, at State Sav. Bk. A Tr. Co., Col., O., Tr.
Bonds.—Sufficient gen. and ref. bonds are reserved to retire at or before
maturity the outstanding 1st M. bonds.
Remainder for extensions, en¬
largements and additions at 85% of cost with certain restrictions.
See
V. 102. p. 1362.
$112,000 first mortgage bonds in sinking fund.
Common stock ($1,000,000).
Preferred stock ($1,000,000)--
EARNINGS.—Year
—
-
ending Dec. 31:
12 Mos.— Gross.
1919.
—..$765,563
Oper. Exp.
Net.
Chgs. A Tax. Surplus.
$442,647
$322,916
$126,119
$196,797
611,876
365,369
246,507
115,356
131,151
—V. 100, p. 1923; V. 102. p. 614, 810, 1352; V. 106, p. 403.
—
1918-——
(4)
Grand
All
the
Rapids
common
Ry.—Trolley.
$500,000 pref.
and
A
ORGANIZATION,
AC.—Incorp. In Michigan in April 1900
cessor company to the Consolidated St. Ry.
street railway system of Grand Rapids and
1921 and in
as
a suc¬
Owns and operates the entire
vicinity.
Franchises expire In
1929.
Fares.—On June 3
1918 applied to the City
Commission for authority
1918 this petition
On Dec. 4 1918 the co.
was autn.
by the Comm. to charge 6 cents. V. 107, p. 2289.
See also
V. 109, p. 887.
In May 1919 Issued $2,500,000 1st M. 6% bonds in connection with the
refunding of an issue of $3,700,000 1st M. 5s due June 1 1919. V.108.P.2122.
to
increase fares from 5 cents to 6 cents, and in Sept.
was
supplemented by a request for a 7-cent fare.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Stock com $2,000,000 $100)
Pref
$2,000,000
cum
5% ($100)
Maturity.
$2,000,000
See text
2.000.000 Novf 18, IX
2,500,000 June! 1 1924
Q-F
First
mortgage
$4,500,000/ 1919
6 g J-D
$500 and $1,000) g_c*]Michigan Trust
Co., Grand Rapids, and
[
Bankers Trust Co., N. Y., Trustee
Mtge $1,200,0001 1919
g 6 J-D
1,200,000 June 1 1924
g
\Int. at Brooklyn Trust Co., Trustee.
Bonds.—Of the remaining 1st mtge. bonds $1,200,000 may be issued
against the present property under certain conditions and $800,000 may
be issued for 75% of the cost of permanent extensions, Ac., under certain
|
Gen. A Ref.
—
restrictions.
Red.
as
a
whole
at
101
and int.
on
4
weeks'
notice.
Int.
payable in N. Y. City or Grand Rapids, Mich.
Tax-exempt in Michigan
V. 108, p. 2122,
The gen. mtge. bonds are all pledged as security for the $750,000 secured
serial 6% notes of the Commonwealth Power Ry. A Lt. Co. V. 108, p. 2433
Dividends.—5% was regularly paid on pref. stock to and incl. Nov. 1918]
REPORT.—For years ending Dec. 31:
Year—
Gross.
Net (aft. Tax.).
Charges.
1919—$1,572,142
Surplus.
386,086
$289,813
$96,273
1,278.348
257,861
233,087
100,000
def. 75.226
ROAD, AC.—28-80miles double and 10.34miles single track; total single,
track equivalent, 67.96 miles.
143 passenger, 11 trailers and 27 misc
and service cars. 2 pleasure parks, Ac.
Power is obtained from Consumers
Power Co. under satisfactory long-time contract.
1918
—
brought out $5,000,000 gen. A ref. 7% bonds and
$3,000,000 7% serial debentures, proceeds being used to reimburse the co.
Mtge. 5s due Jan. 1 1920,
capital expenditures already made.
This financing will also provide
for future construction, expenditures including part of the cost of a large
new steam plant, which the co. contemplates constructing.—V. 110, p. 564.
In Aug. 1917 the authorized capital stock was Increased from $12,000,000
common and $10,000,000 preferred to $20,000,000 of each class.
In Dec. 1918 the co. called for redemption on Jan. 17 1919 at 100H and
Int. the $4,000,000 2-yr. 6% secured notes, due July 1 1919; the $5,334,000
and for
1st lien
& ref. bonds
pledged thereunder being offered for sale.
V. 107.
2379.
p.
Date.
Interest.
Outstanding.
Maturity.
Common $20,000,000 ($100)$14,425,900
12.872.700 Apr '20,1
Pref $20,000,000($100)6%cum
Q-J
5 g J-J
1st lien and ref M, $35.000,-f 1911
22,254,000 Jan. 1 193
000, gold ($1,000)
c*tf|lnt. at Harris Tr. & Sav. Bk., Chicago,
I
Trustee, or Harris, Forbes & Co., N. Y.
Gen. & ref. M, Series "A." f 1920
7 g J-J 1
5.000,000 Jan
1 1930
(See text) g.
-_.c*tf [National City Bank, N. Y., Trustee.
Serial debentures $3,000,OOOf 1920
7 g F-A 1
3,000,000 See text.
$100, $500 & $1,000) g_c*tfl Central Trust Co., N. Y., Trustee.
Mich. Light 1st A ref. M goldf 1916
5 M-S
2,582,000 Mar 1 1946
($1,000, $500 and $100)-c*lUnion Trust Co., Detroit, Trustee.
Bay City Gas 1st M, $500,000/ 1900
5 g J-D
367,500 June 1 1920
g ($500 & $1,000)c*tf[Interest at New York Trust Co., Trustee.
Flint Gas Co 1st- M, $500,000/ 1904
5 M-N
493,500 Nov. 1 1924
($500 & $1,000)
c*ntfllnt. at Mich. Tr. Co., Grd. Rap., Trustee.
STOCK AND BONDS—
&
$350,-/
Jackson Gas Co mtge,
1897
5 A-0
340,000 April 1 1937
000 gold ($1,000)--.c*ntf 1 Illinois Trust & Sav. Bank, Chic., Trustee.
Pontiac Light Co consol mtgej 1902
5 J-J ,
179,000 Jan 11927
$230,000
g
($1,000)--C*tfllnt. at Mich. Trust Co., Grd. Rap., Trustee.
Coiiim
fow
1st, Mi 54,(100,
000 g sink fd ($l ,000).c*tf
1904
5 J-D
1.078.000
Dec
1924
1
Int. at First Trust A Sav Bk., Chic., Trustee
1906
5 M-S
549.000 Mar 1 1931
Rap-Musk Pow 1st M
S7.500.000, gold-..-.—tf Int. at 1st Tr.AS.B., Chic., or lstN.B..N.Y
Cadillac Water & Lt 1st Mf 1905
5 M-S
132,000 Sept 1 1925
(closed)
(Int. at Michigan Trust Co.. Gd. Rapids, Tr.
Stock.—Pref. stock is red. on and after Jan. 1 1920 at 105 and accr. div.
Grd
Amount reported as outstanding includes not over $551,100 reserved to
retire a like amount of Mich. Light pref. stock.
Bonds.—Of 1st & ref. bonds, sufficient are reserved to retire underlying
bonds, and remainder is reserved under certain restrictions for extensions
and add'ns at 80% of cost.
In addition to the amount reported as out¬
standing $510,000 are pledged under the gen. A ref. Series "A" bonds.
Subj.
to call any int. day at 105 A int.
Sink, fund of 1 % p. a. of bonds out began
Jan. 1 1915.
V. 92, p. 465, 526, 1458.
Up to April 1 1920 no bonds
held in
The
sinking fund.
gen.
& ref. 7s are issued c* in the denomi¬
and fully registered in denom. of $1,000,
$5,000 & $10,000.
As part security there will be initially pledged under
this issue $3,175,900 com. stock (entire issue), not less than $2,204,700
nations of $100, $500 A $1,000;
pref. stock (80% of entire issue) and $1,073,000 1st A ref. bonds of the
Michigan Light Co., together with $510,000 of the co.'s 1st lien A ref.
bonds.
As further amounts of the pref. stock of the Mich. Light Co.
are acquired and as additional 1st A ref. mtge. bonds of that co. and 1st
lien A ref. bonds of the Consumers Power Co. are issued,
promptly pledged under the gen. & ref. mtge.
limited.
Additional
bonds
issuable
the acquisition or retirement of
under
they shall
be
Authorized amount
un¬
(1)
certain
restrictions
for
underlying bonds; (2) the redemption
or
retirement of bonds of another series; and (3) 75% of expenditures, made
after Jan. 1 1920 for permanent ext., enlargements and add'ns.
Annual
sinking fund of 1 % of all the underlying bonds in the hands of the public
and gen. A ref. bonds issued and outstanding at the preceding Dec. 31,
begins March 1 1924: to be used to acquire or retire underlying bonds or
gen. & ref. bonds of any series.
A general reserve fund of 4% of the under¬
lying bonds and the gep. A ref. bonds outstanding begins in 1920.
Moneys
in this fund to be expended for maint., replacements, renewals, purchase of
underlying or gen. A ref. bonds or for exts. A add'ns on account of which
no
bonds shall have been
or may
be issued.
Series "A"
are
red. all
or
in
part on any int. date upon 60 days' notice at par and int. plus a premium
of H % for each year or portion of a year between the date of redemption
and maturity.
Tax exempt in Mich.
V. 110, p. 564.
$1,380,000 Michigan Light 1st A ref. M. bonds are reserved to retire
prior liens.
In addition to the amount reported as outstanding $1,073,000
are pledged under the gen.
A ref. series "A" bonds.
Additional bonds
may be issued for 75% or cash cost of permanent exts., Ac., under conserva¬
tive restrictions.
Red. at 105 A int. on any 1st date on 30 days' notice;
tax-exempt.in Mich.
V. 102, p. 613, 890.
Bay City and Jackson bonds
are
Int.
Pref.Div.
co.
for the retirement of $388,000 Kalamazoo Gas 1st
were
stock and the $1,200,000 gen.
ref. mtge. 6% bonds are owned by Com. Pow., Ry. & Light Co.
1920 the
This was done in order to enable the
capital for their respective needs.—V. 110, p. 261.
of the latter.
to obtain necessary
cos.
time at 110 and int.
Dividends.—First div., 1V$%, on pref. paid Oct. 1909 and same amount
Consumers* Power Co.
All the common stock is owned by Com. Pow., Ry. A Lt. Co.
ORGANIZATION.—Incorp. In Maine In 1910, and in Nov. 1914 merged
the following 11 companies (previously controlled by stock ownership)
Commonw. Power Co., Grand Raplds-Muskegon Power Co., Grand Rapids
Edison Co., Flint Elec. Co., Saginaw Power Co., Bay City Power Co..
Pontiac Power Co., Consumers' Power Co. (Mich.), Economy Power Co.,
Au Sable Electric Co. and Central Power Co.
This merger made the Consumers' Power Co. (of Maine) an operating
at 110 & int.
Pontiac and Flint issues are red. at 105 & Int.
Jackson Gas Co. bonds is payable at Hodenpyl, Hardy & Co., N. Y.
red.
on
Debentures.—The
7% serial debentures mature $500,000 each Feb. 1
Red. all or part, or by series on the first day of any
60 days' notice, at 103% and int. for debentures maturing 3
years or more from the redemption date; at 102% and int. for debentures
maturing 2 or more but less than 3 years from the redemption date; and
at 101% and int. for debentures maturing less than 2 years from the re¬
demption date.
V. 110, p. 564.
1922 to 1927, incl.
month upon
Apr., 19.0.
Dividends
on
pref.
ELECTRIC
t
have
been
paid
int.
regularly since organization.
EARNINGS.—Of combined cos. for 12 months ending Dec. 31:
Year—
Gross.
Exp.&Tazes.
Net.
'Charges.
Bal..Surp.
1919-_---.Sll.439.094
1918--—
9,430,695
$7.217,054
6,154,720
$4,222,040
3,275.975
$1,688,823
$2,533,217
1,726,859
1,549,116
PROPERTY.—Owns and operates electric light and power proper¬
ties tn Grand Rapids, Kalamazoo. Jackson, Flint, Saginaw, Bay
City,
Pontiac. Battle Creek, Muskegon, Cadillac, Owosso, Manistee, Marshall.
Albion, Charlotte, Grand Ledge, Allegan, and a number of intermediate
cities and towns.
plants
about
Hydro-electric plants have about 101,000 h. p. and steam
101,000 h.
p.
capacity.
Total generating capacity
about
202.000 h. p.
OFFICERS.—Pres., B. C. Cobb. New York; V.-P., E. W. Clark, Phila.;
V.-P., Geo. F. Hardy, N. Y.; Treas. & Sec., Jacob Hekma, N. Y.—V.
105, p. 1106, 1208; V. 106, p. 399; V. 107, p. 699, 2379; V. 110, p. 259,
264, 564.
(7)
Manistee Railway Co.
'
Incorp. In Mich, in March 1913.
Successor to Manistee Lt. 8c Trac.
Co., sold at foreclosure In 1912.
The Manistee Pow. & Lt. Co. then took
over the gas and electric properties but in Jan. 1916 these were
respectively
Ight Co. and the Consumers' Power Co.
acquired by the Michigan Llg
Does the street railway business In Manistee and Filer City.
Franchise
30 years from 1904.
"
Fare Increase.—In May 1918 fares were increased to
commutation tickets at 3 for 25 cents and 7 for 50 cents.
10
cents,
Stock.—The
with
company's entire $100,000 capital stock and $60,000
mtge. 5s, due 1943, are owned by the Com. Pow., Ry. & Light Co.
1st
ROAD.—Operates 7.41 miles of track.
Gauge 4 ft. 8)$ in.
35 to 100
b. T and 85-1d. girder rails.
Operates a 50-acre park on Lake Michigan.
OFFICERS.—Pres.. C. J. Holmes; V.-P., W. H. Barthold; Sec., J. W.
Glendenning; Treas., A. J. Bray.—V. 88, p. 158; V. 106, p. 2229.
UNITED
LIGHT & RAILWAYS CO.—(See Map, page 53.)
ORGANIZATION.—Incorporated in Maine in July 1910, per plan In
p. 96.
Owns over 99% of the common stocks, over 23%
of the
pref. stocks and over 37.9% of bonds and notes of the following companiesLa Porte (Ind.) Gas 8c Elec. Co.
Cadillac (Mich.) Gas Light Co.
Mason City & Clear Lake (la.) RR.
Chattanooga (Tenn.) Gas Co.
Cedar Rapids (la.) Gas Co.
Ottumwa (la.) Gas Co.
Cedar Rapids & Marion City Ry* Co. People's Gas & Elec. Co., Mason O'y.
Fort Dodge (la.) Gas & Electric Co. Tri-City Railway & Light Co.
Grand Rapias Grand Haven & Mus¬
V. 91,
kegon (Mich.) Ry. Co.
The Grand Rapids-Grand Haven 8c Muskegon Ry. was acquired in Jan.
1912: V. 94, p. 209.
The Tri-City Ry. & Light Co. was taken over in June
1912; V. 94. p. 769.
The Cedar Rapids & Marion City Ry. Co. was
acquired In July 1912.
In Feb. 1913 purchased the People's Gas & Electric Co. and the Mason
City 8c Clear Lake RR.
In 1913 also acquired the Iowa & Illinois Ry.
and the Iowa & 111. Ry. Term. Co., but in Jan. 1916 these two cos. were
consolidated with the Davenport & Muscatine Ry. (forming the Clinton
Davenport 8c Muscatine Ry.) under the management of the Tri-City Ry.
& Light Co.
OPERATIONS.—Does entire gas business In Davenport, Cedar Rapida
(supplying also suburbs of Marlon and Kenwood Park and Intervening
territory), Ft. Dodge. Iowa City, Mason City, Bettendorf, Ottumwa and
Muscatine, la.; Cadillac, Mich., La Porte, Ind., Rock Island, Moline,
East Moline, Milan, Sllvls and Watertown, 111.; and Chattanooga, Tenn.;
entire electric-light and power business in Davenport, Ft.
Dodge, Iowa
city, Mason City and Muscatine, la.; Rock Island, Moline and East
Moline, III., and La Porte, Ind.
Has hot water and steam-heating system
in Davenport and Mason City, la., and La Porte. Ind.
Operates street
railways in Cedar Rapids. Marion. Mason City, Muscatine and Davenport,
la., and Rock rsland, Moline and East Moline, III.; interurban railways
are operated
between Cedar Rapids and Marion, Ta.; Mason City and
Clear Lake, la.; Davenport and Clinton, la ; Davenport and Muscatine,
la.; Davenport. Ia., and Rock Island, Moline and East Moline, 111., Grand
Rapids, Grand Haven and Muskegon. Mich.
In all, 55communities, with
a
population estimated at 600,000 are served.
Franchises expire from
1920 to 1960; approximately 73% are Indeterminate or extend beyond
1932.
In Nov.
Issued $1,500,000 6% Bond Secured Gold Notes, series
"A," to retire $750,000 6% notes maturing Jan. 1 1918 and to reimburse
the treasury for additions, extensions and improvements.
V. 105. p. 2185.
1917
In Aug. 1918 issued $1,250,000 7% series "B" notes to provide for, or
reimburse the co. for additions, extensions and impts., or for acquisition
of new property.
V. 107, p. 605.
In May 1919 Issued $500,000 1st & ref. mtge. 5% bonds, proceeds of
which will partially reimburse the co. for exts., add'ns, and impts., including
the installation of a 22,500 k.w. turbo-generator in the Moline Power
Station.
V. 108. p. 2123.
Dec., 1919, the co. issued $1,500,000 1-yr. 7% sec. notes series "C"
a like amount of 6% coupon notes due Jan. 1 1920.
V. 109,
p. 2264.
I
In March, 1920, brought out $2,000,000 bond secured 7% notes dated
April 1 1920 to refund an issue of $1,500,000 6% secured notes series "A"
due May 1 1920 (these have been eliminated from the table below) and
for other corporate purposes.—V. 110, p. 1416.
Fares.—In Dec. 1918 a 6-cent fare franchise was favorably acted upon at
a city election of Cedar Rapids.
V. 107, p. 2478.
In Aug. 1919 was auth.
by the 111. P. U. Comm. to charge a straight 7-cent fare in Illinois cities.
In Aug. 1919 the City Council of Davenport, la., passed an ordinance raising
In
to
refund
fares to 7 cents.
*
,
Transfer Agencies.—Stock transfer agencies are maintained In New York,
in Grand Rapids.
See V. 97, p. 1358.
51
RAILWAYS
thereafter.
Penna.
4 mills
V. 110, p.
tax refunded.
1416.
Series
"B" of 1918 and Series "C" of 1919 are secured by 1st & ref. 5s in like ratio.
Additional bonds of these or subsequent series may be certified only upon
deposit of additional 1st & ref. 5s in the same ratio.
Subsequent series
may not mature earlier than May 1 1920, nor later than Nov. 1 1927.
Proceeds from sale of additional notes may be used for additions, Ac.,
Notes outstanding at any one time not to exceed
$5,000,000.
Co. will pay normal Federal income tax not in excess of 2%;
Pennsylvania 4-mill tax refunded.
Series "B" are redeemable, all or
in part, on any interest date on four weeks' notice at 101 and int. prior
to Oct. 1 1920, at 100M and int. thereafter to Oct. 1 1922, and thereafter
at 100 and int.
V. 107, p. 605.
Series "O" are conv. at holder's option,
upon 10 days' notice, at any time prior to Oct. 1 1920 or their earlier redemp¬
tion, into 1st & ref. mtge. 5s of an equal principal amount, and cash equal
to 15% of the principal amount of notes so converted.
Red. all or in part
at 100 and int. on any int. date upon 30 days' notice.
V. 109, p. 2264.
Debentures.—The direct obligation of the co.
No mortgage may be cre¬
ated Junior to the 1st & ref. M. without equally securing the debs.
At no
time shall there be outstanding debs, in excess of 75% of the total of 6%
pref. stock outstanding.
No further debs, may be issued unless earns,
available for Interest charges are 3 times the requirements on the deb.
then outstanding, ind. those applied for as well as the Int. upon any un¬
secured debt.
They are callable, all or part, upon 4 weeks' notice to Nov. 1
1921 at 102 and Int., and thereafter at 101 and int.
Convertible upon 10
days' notice to Nov. 1 1923 into 6% pref. stock at the rate of $1,125 par
value for each $1,000 par value deb.
Pa. State tax refunded.
V. 103,
p. 2079.
■
and for acquisitions.
Maintenance and
Depreciation Fund.—The co. must set aside yearly not
less than 12H% of Its gross earnings, any part of which not actually ex¬
pended in any calendar year for malnt., Ac., to be used for extensions, ad¬
ditions. Ac.. against which no additional bonds may be issued.
Dividends of 1H% have been
paid quar. on 1st pref. since Oct. 1910 to
Apr. 1920.
The second pref.received %% quar. from Oct. 1910
July 1915.
Was then converted into 1st pref. and com. stk. As to stock
div. on com., see V. 94, p. 1250.
Divs. or 1% on com. were paid quar.
from April 1913 up to and Incl. July 1914.
None to Oct. 1916, when1%
was paid, same rate
quarterly since to and incl. Oct. 1919.
Jan. 1920 div.
deferred (V. 109, p. 2357).
A stock dividend of 1%, payable in common
stock, was paid April 1 1914 in addition to the regular dividend of 1% paid
on the same date.
V. 98, p .525.
and Ind.
to
REPORT.—Report for calendar year 1918 in V. 109, p. 587, 673.
Combined Earnings of Subsidiary
Gross.
Exp. & Tax.
Net.
Dee. 31 Year—
1919
1918.
——
1919.
on
cos-
Other income.
1919.
1918.
Interest
stks.
of sub.
Surplus.
$919,948
918.543
Light & Railways Co. for Years ending Dec. 31.
Income Account, United
Earns,
Companies.
Int., Ac.
$1,746,685
1.681.910
$9,951,165 $7,284,532 $2,666,633
9,015,559
6,415,106
2.600,453
$910,975
$910,553
1,300,745
1,104,196
1918.
on
and
bonds
$900,971
$801,500
605,169
notes
607,386
Preferred divi¬
Total-. -—$2,211,298
Exps. & taxas.
!,015,171
157,904
222,215
dends
Total
Net
$1,857,267 Bal.,
earnings_$1,989,083
deduct_$l,506,140 $1,408,886
surplus. $482,943
$448,382
Operating Statistics.—Years ended Dec. 31:
1916.
M.
cu.
1918.
1917.
1919.
ft. of gas sold____
1,439,979
1,670,310
1,875,434
2,008,539
soldi 10,501,901 132,204,323 160,617,416 154,561.096
K. w.h. elec. energy
I Revenue
passengers:
Urban railways——
Interurban railways.-
34,771,478
3,241,597
40,992,640
2,785,263
43,005,687
2,572,568
42,157,029
2,785,168
PROPERTY.—Electric
light and power is furnished from 10 central
stations with a total generating capacity of 103,650 h. p. of which 6,450
h. p. is purchased water power; 155 miles of high-tension transmission lines,
2,695 miles of distributing lines, sub-stations, &c.
Gas is supplied from
11 stations with 996.97 m. (3-inch equiv.) of gas mains; annual sales are in
excess of 2,205,863.500 cu. ft.
The companies combined have over 62,055
gas and over 42,242 electric customers.
The street and interurban railways
have a total mileage of single track of 276.51 miles.
OFFICERS.—Pres., Frank T. Hulswit, Grand Rapids; Y.-Ps., Richard
Schaddelee, Grand Rapids; B. J. Denman, Davenport, and T. J. Weber,
Grand Rapids; Sec. & Treas., L. H. Heinke, Grand Rapids; Gen. Mgr.,
Richard
Schaddelee; General office,
Portland, Me.; executive office,
Chicago; operating headquarters. Grand Rapids; operating headquarters
for Iowa district, Davenport, Iowa.—V. 108, p. 481, 1611, 2123; V. 109.
p. 587, 673, 2172, 2264, 2357; V. 110, p. 1291, 1416.
(1)
Grand
Rapids Grand Haven & Muskegon Ry.—Electric road.
Entire stock owned by United Light 8c Rys. Co.
Third-rail system.
ORGANIZATION.—Incorporated in Michigan on March 6 1899. Owns
and operates an electric road on fenced right of way, connecting the three
cities named In the title, a distance of 41 miles.
Franchises In ail towns
through which It passes extend to 1929; otherwise private right of way.
Rates.—In July 1918 applied to the I.-S. C. Comm. for auth. to Increase
class rates from points on the line to Milwaukee, Wise., by 25%.
In
July 1918 filed suit in the U. 8. Dist. Court at Grand Rapids, seeldng to
enjoin the State from enforcing the law fixing the maximum rate for interurbans in Michigan at 2 cents a mile.
V. 107, p. 291.
In Dec. 1918
Judge C. W. Sessions, in the U. S. District Court at Grand Rapids, Mich.,
held valid the Michigan 2-cent fare law thus preventing the company from
collecting 3 cents per mile.
V. 108, p. 78.
In May 1919 the Michigan
Legislature passed a bill increasing passenger rates on steam and electric
interurban roads from 2 to 2lA cents and 3 cents per mile.
See under
caption "United Lt. & Rys. Co.," V. 108, p. 2123.
in Chicago and
STOCK AND BONDS—
STOCK AND BONDS.—
Date.
Interest
Common $12,500,000 ($100)-.
1st pref $12,500,000 ($100)1
6%
First
(gold
Outstanding.
$6,868,300
Maturity*
See text
n
10,054,400
Apr'20, 1H
9,123,300 June 1 ^932
($100,{ 1912
5 gr
c*&r.tf\New York Trust Co., N. Y., Trustee.
.
_
Conv debentures gold
($100. f 1916
6 g M-N
2,000.000 Nov 1 1926
$500, $1,000 Ac) ..c*&r*tf lint, at New York Tr. Co.. N. Y., trustee.
$2,000.000\ 1920
7 g A-0 1
2,000,000 Apr
1 1922
($100, $500&$1,000) g_c*tf/Int. at New York Trust Co., N Y., Trustee.
8ecured notes, ser. "B'? ($100/
1918
7 g A-O
1.500,000 Apr
1 1923
S500& $1.000)
--.c*tfllnt. atNew York Trust Co., N. YT, Trustee.
Sec conv notes, ser "C" ($100,/ 1919
7 g J-D 1
1,500,000 Dec 11920
$500 & $1,000) g
c*tf(Int. at New York Trust Co., N. Y., Trustee.
Chattanooga Gas rirst rntgef 1907
5 J-J
502,000 Jan
1 1927
$1,500,000 g ($1.000).c*tfUnt. at Con. & Cora. Tr. & Sav. Bk., Chic.,
(
Trustee, or First Nat. Bank, New York.
People's Gas 8c El Gen Mtge/ 1906
6 A-0
370,000 April 1 1931
$500.000-----tf | Int. at Central Tr. Co., Chicago, Trustee
Sec notes (ser '20)
.
For securities covering railway
properties see separate companies below.
Stock.—First pref. stock is redeemable at 105 and accrued divs.
The
2d pref. stock was conv. into 1st pref. or cbm. stock, share for share, in 1915.
Com. Is only stock with voting power.
V. 91, p. 96. 519; V. 92, p. 1110; V.
95, p. 421.
$325,600 additional com. stock is held in treasury. $493,100 of
the outstanding Chatt. Gas Co. pref. stock Is owned by the United Light &
Railways Co.
Bonds.—Int. on first and ref. mtg. bonds is payable at office of trustee
or Continental 8c Commercial Trust 8c Savings Bank, Chicago.
Mortimer
N. Buckner is co-trustee.
$6,000,000 bonds (not Included In amount out¬
standing above) are deposited as security for notes and $430,300 are In
treasury.
Additional bonds may be issued for refunding underlying bonds
and for 75% of par value of preferred stocks of underlying companies re¬
deemed or purchased, 75% of cost of betterments, improvements and addi¬
tions, and for 75% of cost of additional property, under certain restrictions.
Redeemable as a whole or In part on any int. day at 102H and int. on 60
day9* notice.
A depreciation fund of 2% on all bonds out became operative
In 1917. /See description of bonds in V. 102, p. 1898.
Chattanooga Gas
Co. bonds have a sinking fund of $15,000 per annum from 1912 to 1920.
inclusive, on first $500,000 bonds and 2% additional on any further bonds
issued.
Subject to call^at 105 and int.
V. 84, p. 805.
$6,000 of bonds
reported outstanding owned by United Light A Railways Co.
The bond secured notes "series of 1920," will be secured by cash equal to
the face amount of notes or
1st & ref. 5s in the ratio of 1 33 1-3%.
Are
weeks' notice at 101 and int. up to
April 1 1921; at 100H and int., thereafter up to Oct. 1 1921; and at 100 and
red. all or in part at any time upon 4
Date.
Interest.
Outstanding.
Maturity.
Stock, $1,200,000 ($100)—
$1,200,000
1st mtge. $1,500,000 ($1,000)1 1901
5 g J-J
1.500.000 July 1 1926
gold
c*tf/Int. at Guaranty Trust Co., N. Y., Trustee.
Stock.—Entire stock, except directors' shares, deposited under United
Light 8c Rys. Co. 1st and ref. mtge.
Bonds.—The interest on outstanding bonds was guaranteed for 5 years
—
—
|
cum
& ref mtge
$500 & $1,000)
Q-J
by the Security Investment Co. of Pittsburgh.
See V. 70, p. 479.
outstanding bonds held by United Light & Railways Co.
$2,000
of
ROAD.—Extends from
Grand
Rapids in a northwesterly direction to
Muskegon, with a branch to Spring Lake and Grand Haven.
Connects at
Grand Haven with Goodrich Lins of steamers for Chicago and Crosby Line
of steamers for Milwaukee, which are in operation all the year round. Total
track, 66.54 miles, of which 4.22 m. in Grand Rapids and 3.43 jm. in Mus¬
kegon are operated under favorable trackage agreement with the Grand
Rapids Ry. and the Muskegon Trac. 8c Ltg. Co.
70-lb. T rail.
Operates
21 passenger, 12 express and 8 work cars.
Also does a freight business.
—V. 100, p. 901, 1672; V. 107, 0. 82. 291.
(2) The Tri-City Railway & Light Co.
1912 control was acquired by
In June
r:
„
U4.
^
n
„
the United Light 8c Rys. Co.
Tri-City Ry. 8c Lt. com. stockholders received in exchange for their shares
$31 10 2-3 cash, $10 00 2-3 United Rys. 6% 1st pref. and $12 501 2d1 pref.
3% stock.—V. 94, p. 768.
The United Lt. & Rys. Co. owns $8,915,900
common and $173,800 preferred stock.
ORGANIZATION.—Incorporated In Connecticut March 3 1906 add
owns all the stock, except directors' shares, of the followlnp^companfes
Mollne-Rock Island Mfg. Co.
Tri-City Railway Co. or Iowa.
People's Light Co.
Tri-City Ry. Co. of Illinois.
Moline Rock Island & East. Tr. Co. C. D. & M. Ry. Co. [but see belowl
Moline E. Moline 8c Watert. Ry. Co. Muscatine Lighting Co.
Watch tower A Campbells'lis. Pk.Oo.
People's Power Co.
OVfUO
CkU
wu*3
OALUUV
«***-
Iowa City Light A Power Co.
Controls au gas plants, electric-lighting
lines In
the cities of
companies and street railway
Davenport, Iowa City, Muscatine. Bettendorf and
Rockingham. Ia., and Rock Island, Moline, East Moline and other smaller
towns in Illinois, and an interurban connecting Muscatine, Davenport and
Population served, approximately 177,000.
Railway franchises
electric franchises to 1935 and 1943, and
franchises to 1929, 1933 and 1943.
In Jan. 1916 the properties of the Iowa 8c Illinois Ry. and Iowa 8c Illinois
Terminal Ry. companies (formerly owned by the United Light 8c Rys. Oo.)
were acquired and merged with the Davenport 8c Muscatine Ry., forming
the Clinton Davenport 8c Muscatine Ry.
All or the $1,063,000 1st M.
bonds of the Iowa 8c Illinois Ry. outstanding have been acquired by the
Clinton.
extend to 1930, 1935 and 1951;
gas
Tri-City Railway A Light Co.
^
ELECTRIC
52
Sub. Cos. to Consolidate.—-The Tri-City Ry. of 111. and the Moline Rock
Island & Eastern Trac. Co., all of the stock of which is owned by the
Tri-City Ry. & Lt. Co., have filed a joint petition with the 111. P. U. Comm.
for approval of the purchase by the Tri-City Ry. of the tracks and equip,
of the Moline Rock Island & Eastern Trac. Co.
The former co. would
issue §195,000 bonds in connection with the consolidation. V. 110, p. 972.
In Dec. 1919, Judge M. J. Wade, in the Federal Court, handed down a
decision authorizing the co. to sell the Clinton Davenport & Muscatine
Interurban Ry., the Muscatine lines of which had been idle from Aug. 1
1919.
V. 109. p. 2172, but see V. 110, p. 168.
No further information.
Wage Increases.—V. 106, p. 2758; V. 109, p. 578.
Fares.—In Sept. 1918 the Illinois P. U. Commission suspended until
Jan. 29 1919 a proposed advance in street railway fares in Moline. East
Moline, Rock Island, Silvis and Milan.
V. 107, p. 1288See also V. 109,
p. 578.
Effective Aug. 8 1919 was auth. by the P. U. Comm. to charge
a 7-eent fare.
V. 109, p. 777.
See also V. 109, p. 1462.
Maturity
Outstanding.
Interest.
Date.
STOCK AND BONDS—
$9,000,000
0 Q-J
3,000.000
Coll trust first lien mortgage! 1900
5 g A-O
7,196,000
S9.000.000 s f
c&rtf/Int. at N. Y. Trust Co.. N.
1st & ref mtge $20,000,000
1910
5 g J-J
10,287.000
gold
c*&r#tf Jlnt. at Central Trust Co., N.
Trf-Clty Railway 1st M
_tf 1902
5 M-8
54,000
1912
5 M-S
400,000
Iowa
City Light & Power
Common $9,000,000 (§100)_
Pref $3.000,000 6% cum ($100)
See text
Apr 20. 1H
April 1 1923
Y., Trustee.
July 1 1930
Y., Trustee.
Sept 1 1922
Sept
1 1932
Comm'l Trust &
refunding mortgage ($1.000,000 ($1,000)—__c*tf
Interest at Continental &
Electric 1st
mortgage $400,000
tf
Sav. Bank, Chicago, Trustee.
Stock.
1213.
p.
Pref. stock Is redeemable at 120 and accum. diva.
See V. 827
Listed on Montreal, Toronto and Louisville Stock Exchanges.
retired
by sink. fd.
Subj. to call on any Int. date at 105 and int. A sinking fund
or $50,000 per ann. from Jan. 1 1908 to 1913; $150,000 for succeeding 5 years
then $250,000 per ann. to maturity.
Coupon bonds are in denomination
of $1,000 and registered bonds In $1,000, $5,000 or $10,000 and multiples
They are listed on N. Y. Stock Exchange.
Of the 1st & ref. bonds, suf
ficlent are reserved for prior Hens, and remainder for 85% of cost of ad
ditions and Improvements. Subject to call at 105 and int. on any int. date.
Sinking fund of 1^% of bonds out begins Feb. 1 1924.
V. 93, p. 1405$7,081,000 of outstanding 1st & ref. bonds are owned by Un. Lt. & Rys.Co,
Of the $54,000 Trl City Ry 1st M. 5s .United Light & Rys Co. owns $13,000.
All the outstanding Iowa City Gas & Elec. Co. 1st Mtge. bonds are
owned by Tri-City Ry. & Light Co.
They mature serially $4,000 to $9,000
annually from May 1 1912 to May 1 1927 and $135,000 in 1928.
Subj. to
call at 105 and int. on any int. date.
Additional bonds may be issued for
and betterments.
$1,500 owned by Un. Lt.
Dividends.—First dlv. on pref., 1H%. paid July 1900, and 1J4% quar.
Apr 1920.
A dividend of 1% was paid on the com¬
stock Jan. 1 1915 (practically all of this stock is owned by United Light
since to and including
mon
& Ry. Co. and previous
to and incl. April 1918.
were not made nubile), and Quar.
In 1919, Jan., 1%; April, 1%; July, 1%; Oct.,
disbursements
ROAD.—Operates over 170 miles of standard-gauge track, connecting the
cities of Clinton and Davenport, Iowa, and Rock Island. Moline and East
Moline, 111.; including an extension to Muscatine placed In operation
1912 and city lines in Muscatine.
80-lb. girder ana 60 to 75-lb. T rail.
in
OFFICERS.—Pres., B. J. Denman, Davenport; V.-P., Richard Schaddelee, Grand Rapids; V.-P., H. E. Weeks; Treas., Frank T. Hulswit; Sec.,
H. E. Littig.—V. 109. p. 578, 777, 1462, 2172; V. 110, p. 168, 970.
(3) Cedar Rapids & Marion City Ry.
ref. $15,000,0001 1912
gold ($1.000)
c*tf/Int. at
Green Bay G & E lBt & ref MI 1905
$750,000. g ($1.000)
c*flnt. at
Franchise
in Cedar
Rapids expires 1941 and indeterminate on Interurban.
The United Lt.
& Rys. Co. owns $584,801 stock and $184,000 bonds.
Fares.—At a city election of Cedar Rapids held on Dec. 17 1918 the co.
was auth. to increase fares to 6 cents.
.
STOCK AND BONDS—
Stock
$1,000,000 ($100)
$250,000 ($1,000)
First mtge
Interest.
Date.
—.
Maturity.
$650,000
-
f 1891
,
Outstanding.
6 J-J
184.000 July
1 1931
c..ntfilnt. at Amer. Tr. Co.. Boston. Trustee.
Bonds.—Of remaining
held in sink. fUnd.
bonds. $20,000 are In treasury and $46,000 are
ROAD.—Owns and operates road 28.90 miles in length, extending from
track, 2.28: sidings. 3.17; total of
Rails. 45. 60 and 80-lb. T
Cedar Rapids. Iowa, to Marion; second
all, 28.90 miles.
(4) Mason City & Clear Lake Railroad Co.—A trolley road.
1913 the United Light & Rys. Co. acquired control.
In Feb.
Owns right of way
Franchises run
until Oct. 31
1935.
Interest.
Outstanding.
Maturity.
$400,000
1912
0 g J-D
310.000 June 1 1932
c*tf flnt. at First Tr. & Sav. Bk,. Chic., Trustee.
STOCK AND BONDS—
$1.000.000
Date.
General mortgage $2,500,0001
gold
($1,000)
Bonds.—Remaining bonds
cost,
are
for extensions and betterments at 75% of
Red. at 105 and int. on any int. day.
Sinking fund of 2%
per annum began June 1 1913 to provide for additions and betterments
or for purchase of bonds.
$8,500 or outstanding bonds owned by U. L. Rys.
Co.
V. 94. p. 1764.
to be issued).
GREEN
WISCONSIN
BAY, WIS.
SECURITIES CO.—A holding
company.
ORGANIZATION.—Incorp. in Wisconsin on Dec 12 1911 and is p k©ly a financing company (V 94. p. 632).
Controls Wisconsin Pub Serv
Co.
Also owns the $150,000 outstanding common stock of the Sheboygan
Gas Light Co. (V
lOO, p. 738) and a large interest in the Wisconsin Ry.,
Lt. & Pow Co.. which see under "La Crosse, Wis."
In Dec. 1916 acquired
all the stock of the Manitowoc (Wis.) & Northern Traction Co., operating
an electric railway between Manitowoc and Two Rivers, ab ut 10 miles
V. 104. p. 75.
Also owns the Calumet Service Co. of Chilton. Wis., and
controls the Marine Securities Co.. which owns the Baltimore (Md.)
Dry Dock & Ship Building Co.
V. 107, p. 503.
In July 1918 issued $500,000 5-year 6% secured notes to partially reim¬
burse the company for money invested in the stock of the Marino Securiticj
Co.. additions, extensions, improvements, &c.
V. 107
p
503.
STOCK
AND BONDS—
Date.
Stock. *2 00') 000
Interest
Out stand w,
$1 .690.000
Ma
v
vtf
$500,000 ($100, $5001 1918
6 J-J
500,000 Julv 1 1923
c.tf/Wisconsin Trust Co.. trustee
Sheboygan Gas Light Co.—
Common. $250.000
($150,000 out—All owned by Wise. Secur. Co.)
First mortgage $250,000 gold!
1901
5 g J-J
250.000 July 1 1931
($1.000 A $500) .._^._c*tf lint, at Union Trust Ho
Detroit Trustee.
Notes
and $1,000)
notes are secured by pledge of $105,000 Wise. P. S. Co*
$60,000 Sheboygan Gas Light Co. notes, $450,000 Marine
pref. stock, $7,000 Green Bay Gas & Elec. Co. 5% bonds and
$48,000 Sheboygan Gas Light Co. 5% bonds.
Callable on any int. date
on
40 days' notice at 103 and int. to July 1 1920; 102 and int. to July 1
1921; 101 and int. to July 1 1922, and 100 and int. thereafter.
V. 107, p.503
Notes.—The
1st
&
ref.
5s,
Sec. Co. 7%
OFFICERS.—Pres., Clement C. Smith; V.-Ps., Howard Greene and
Ludington Patton; Sec., Howard Greene; Treas., H. C. Mackay; Asst. Sec.
& Asst. Treas., Wm. M. Chester.—V. 94, p. 632; V. 100, p. 1924; V. 104.
p. 75; V. 107, p. 503.
(1)
Wisconsin Public Service Co.
__
1942
m
trus.
1935
true.
call on any int. day at
105
to retire underlying
Sinking fund of 2%
on
bonds outstanding began in 1917.
The Green Bay Gas & Electric
bonds are subject to call at 105 until 1924; thereafter at par; $65,000 have
been paid and canceled.
$228,000 are pledged as additional security under
the Wise. P. S. Co. 1st M. & ref. bonds.
^
ending Dec. 31:
LEARNINGS.—Of combined properties for 12 mos.
Year—
1919
Interest. Bal., Surplus.
Neliafter tax.)
Gross.
'$218,420
$309,656
$938,255
$91,236
722,412
206,050
161.967
44,083
ROAD, &c.—Owns and operates all lines in the city of Green Bay; also
a line from Green Bay to East De Pere, and branch to Duck Creek and a
line from Green Bay to West De Pere, Little Rapids, Wrightstown and
Kaukauna; total, 43-01 miles of track.
70 and 85-lb. "T" and girder rail;
22 motor cars.
Gas meters, 4,412; electric meters, 5,059.
1918
^
OFFICERS.—Pres., Clement C. Smith. Milwaukee; V.-Ps.. C. R. Phenitiie, Green Bay, and J. P. Pulliam, Milwaukee; Sec., Howard Greene,
Milwaukee; Treas., H, C. Mackay; Gen. Mgr., J. P. Pulliam, Milwaukee.
—V. 94, p.
1697.
GREENFIELD, MASS.
MASSACHUSETTS
CONSOLIDATED
RAILWAYS.
ORGANIZATION.—Organized In Boston on Nov. 16 1911 as the Massa¬
Rys.
In May 1913 name was changed to the Massa¬
chusetts Consolidated Railways.
Is a voluntary association managed by
a board of seven trustees.
V. 93, p. 1402, 1599; 1787.
Controls through
stock ownership the following companies:
Concord Maynard & Hudson St. Ry.lMillers River Street Ry. (proposed).
Connecticut Valley Street Ry.
I Northern Massachusetts Street Ry.
The system comprises 114 miles of road, serving 20 cities and towns in
Central and Northern Massachusetts.
Both passenger and express service
are provided.
Rights of way have been partly secured on the proposed line
From Orange to Millers Falls.
Shares—
Outstanding.
LastDiv.
Common $1,640,300 ($100)
$1,619,900
See text.
Pref $1,100,000 ($100) cum (see text) Q-F
704.600
See text.
chusetts Northern
-
STOCK.—Additional pref. shares only to
be Issued when net earnings for
of issue shall have beea
12 mos. ending not more than 180 days prior to date
1H times amount necessary to pay div. on shares out and applied f*>r.
Divs. on pref. are 5% to Nov. 1 1914, incl.; 5H% to Nov. 1 1917.. Incl.,
and 6% thereafter.
In case of liquidation pref. Is entitled to $110 per share
up to Nov. 1 1914. $115 to Nov. 1 1917 and $120 thereafter.
V. 93, p. 1599.
Dividends.—On pref., 1912 to 1914, 5% per annum.
In 1915 and 1910,
%. Feb. 1917div. passed. Oncom, adiv. of H% was paid net.15 1913.
IARNINGS.
Gross
ExNet
Note
Pref.Div.
Balance
5me!
ending—
Dec. 31
Doc. 31
1917
1916
June 30
1916
Income,
Interest.
Income.
penses.
(5Hj%).
$3,543
$2,886
$16,530
$9,688
$6,428
20,439
13,963
6.476
38,753
7,216
11,979 def4,763
38,753
Combined Earnings of Subsidiary Companies.
Year ending—Gross.
Dec. 31 1917_$587,056
Int. &Tazes. Pf.Div
$125,892
$9,450
Net.
$135,124
Deficit.
'
$23,333
32,277
43,516
Com Div. Surplus.
None
def.$218
149,122
116,028
16,200
14,396
2,498
June 30 1916.
148,676
116,508
16,200
3.747
12,221
OFFICERS.—Sec. & Treas., D. P. Abercromble Jr.; Greenfield, Mass.—
1916.
Dec. 31
548,359
529,484
1168,1671; V. 104, p. 1702 V. 106, p. 2011.
(1) Connecticut Valley Street Ry.—Trolley.
The Mass. Consol.
Rys. owns 4,996 shares of the common stock.
ORGANIZATION.—Incorporated In 1899.
Commenced Jan. 22 1900.
Is a consolidation on April 1 1905 of the Northampton & Amherst Street
Ry., the Greenfield & Turner's Falls Street Ry. and the Greenfield Deerfield
& Northampton Street Ry., as per plan in V. 80, p. 1111.
In May 1915 the Governor of Mass. signed a bill authorizing the Northern
Mass. St.
Ry. to absorb the company
by consolidation or purchase
V. 106, p. 1833.
Authority to Operate Motor Vehicles Granted.—On June 19 1919 was auth.
by the Mass. P. S. Comm. to acquire and operate passenger motor vehicles
between Greenfield and Montague. V./108, p. 2528.
Rates.—In Sept. 1918 filed with the Mass. P. S. Comm. a tariff, effective
Nov. 4 1918, under which the system
was
divided into 47 ^pnes, each
approximating 1 mile long, the rate of fare to be 3 cents in each zone, with
a 6-cent minimum charge.
V. 107, p. 1099.
In Oct. 1918 filed with the
a
local and joint class fre ght
e
and minimum tariff
increasing rates by about 25%.
Interest.
Outstanding.
Maturi y.
Stock, com, $500,000 ($100)
$500,000 Dec *16. 1%
Pref,$120,000(0% cum) ($100)
M-S
120.000
See text.
Connecticut Valley St Ry 1st/ 1900
5 g M-S
120,000 Sept. 1 »920
mort gold ($l,000)_c*..ntf lint, at Old Colony Trust Co., Boston, Trust.
Northam & Amh 1st mtge,/ 1900
5 g M-S
180,000 Sept. 1 1920
$180,000 g ($l,000)..c..ntf lint, at Old Colony Trust Co., Boston. Trust.
Greenfield Deerfield & North/ 1903
5 g J-J
150.000 July 1 1923
first mort, $150,000, goldilnt. at Mercantile Trust Co., Boston, Trust.
$1,000 and $500)--C*..ntf [No sinking fund and bonds cannot be called
STOCK AND BONDS—
Date.
Green&TurnFalIsconsm$130,-jl903
000 g ($500, $1,000)
130,000 June 1 1923
5 g J-D
c*.ntfI Interest at Beacon Trust Co.. Boston. Trus.
300,000
Bonds.—The Northampton & Amherst bonds are subject to call at 105
on 4 weeks' notice, as are the bonds of the Connecticut Valley Street Ry.
The $120,000 Connecticut Valley bonds were issued under the first mtge. of
the Northamp. & Amh. St. Ry., which was originally drawn for $300,000.
Dividends.—On pref., 3% semi-ann. since Sept. 1910 to and Incl. March
918 (paid May 1 1918).
On com., In 1906 (year end. Sept. 30), 2%; in
1 7. 2%; in 1912, 1%; in 1913, 2H%; in 1914, 3%.
In 1915. Feb.. *4%
M«y, %%-. Aug., %%.
In Dec. 1916. 1%.
EARNINGS.—For calendar year 1916 and years ending June 30.
Year—
Gross.
Net.
Int. &Taxes. Pref.Div. Com.Div. Surplus.
1916.
$240,320
$64,171
$46,233
$7,200
$4,996
«5.742
1915-16
235.619
62,820
47,972
7,200
3,747
3,901
1914-15.
242,633
77,515
51,733
7,200
14,988
3.594
Latest Earns.—For cai. year 1917. gross, $252,569; net, aft taxes, $49,391.
Notes payable Dec. 31 1917--
__
—
ROAD.—Owns and operates 47.0o4 miles of track between Miller s Falls
Falls, Greenfield, Northampton and Amherst.
41
passenger
2 snow-plows, 5 other cars and 131 electric motors.
OFFICERS.—Pres.. C. W. Hazelton; V.-P. & Gen. Mgr., D. P. Abercrombie Jr.; Treas., H. A. Crane; Supt., J. A. Taggart.—V. 98, p. 1392;
Turmer's
^ars.
V
100, p. 1167; V. 106, p. 2010; V. 107, p. 1099: V. 108. p. 2528
(2) Northern Massachusetts Street Ry.—The Massachusetts Consol.
Rys. owns all the common stock ($350,000).
ORGANIZATION.—Incorp. in Mass. on July 1 1894 as the Athol &
Orange Street Ry.
Name changed to above on May 1 1913.
In Jan. 1913
purchased the property and franchises of the Templeton Street Ry. and on
Mar. 1 1913 absorbed the Gardner Westminster & Fitchburg Street Ry.
As a result of these acquisitions, stock was increased from $74,500. all of
one class, to $500,000, of which $150,000 Is 6% cum. pref. stock.
The Governor of Mass. In May 1915 signed a bill authorizing the com¬
pany to absorb the Connecticut Valley St. Ry. by consolidation or pur¬
chase
V.
100.
p.
1833.
Rates.—In May 1918 was auth. by the Mass. P. S. Comm. to eliminate
the 5-cent fare limit and to adopt zones of about 1 mile in length with a fare
of 5 cents for the first 3 zones or fraction thereof and 2 cents for each addi¬
tional zone.
V. 106, p. 2011.
In Oct. 1918 filed with the Mass
P. 8.
Comm.
rates
a
local and joint class freight rate and minimum
by about 25%.
The int.
due
Feb.
V.
1
107. p.
1920
on
tariff, increasing
1482.
the $185,000
Gard.
Weston
&
Fitchburg
1st M. 5s was paid,
but the prin. also due on that date had not been paid
to April 12 1920 and no definite agreement as to extension had oeen
made.
Int. on this issue now accrues at 6%.
up
'
ORGANIZATION.—Incorp. In Wisconsin in Jan. 1912 aw reorganization
merger of the Green Bay Tract. Co. and Northern Hydro-Elec. Co.
Owns and operates entire city and Interurban railway system (except about
I.06 m. of track) centering at Green Bay. and furnishes gas. electric fight and
power to Green Bay and suburbs.
On Jan. 1 1914 the entire property of
the Green Bay Gas & Electric Co. and the Minahan Electric Co
was pur¬
chased
For particulars of Green Bay Gas & El. Co.. see V
82. p. 573. §31,
and V
86. p. 172.
Street railway franchise la perpetual and exclusive
and
5 g J-J
2,438,000 Jan. 1
Wisconsin Tr. Co., Milwaukee,
5 g M-N
437.000 May 1
Wisconsin Tr. Co., Milwaukee,
Bonds.—Wise. Pub. Serv. bonds are subj. to
charge (Incl. bonds
providing annual net earnings are 1*4 times int
Maturity.
___
int.
Remaining bonds are for acquisitions and
bonds under certain restrictions.
See v. 94. p. 1697.
Mass. P. S. Comm.
Operated since July 1897.
33 feet wide from Mason Oitv to Clear Lake, 9 miles
Length of line within and between the two cities, 18.0 m.
Handles all
freight coming over Minn. & St. Louis, Chic. R. I. & Pac., Chicago & North
West, and Chic. Great Went, railways between Mason City and Clear Lake.
ORGANIZATION, ETO.—A trolley road.
Stock
$1,000,000
600.000
and
V. 97. p. 365, 951; V. 100. p.
ORGANIZATION.—Incorp. May 1891 In Iowa.
------
lit mtge. &
Year
5%.
Dec.,
1%;
-
Pref, $600,000 6% cum ($100)
__
Bonds.—Of the $9,000,000 coll. trust bonds, $1.500,000 have been
80% of cost of extensions
& Rys. Co.
Outstanding.
Interest.
Date.
STOCK AND BONDS—
Common, $1,000,000 ($100).
1909
6 M-N
226.500
8ee text
Int. at Chic. Tr. & Sav. Bank, Trustee.
Iowa City Gas &
[VOL. 110.
RAILWAYS
.
STOCKS AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
$350,000 In'14-'15.2^
150.000
See text
/ 1913
5 g M-N
315.000
May 1 1943
red'l on 4H% int bas _c*tfllnt. at American Trust Co.. Boston, Trustee.
Gard Westm & Fitchburg
1st/ 1900
5 F-A
185.000 Feb 1 1920
mtge ($1,000) gold._c*ntf I Int. at Old Colony Tr. Co.. Boston. Trustee.
Notes payable Dec. 31 1917__
300.000
Common
$350,000
Pref 6% cum $150.000
1st & ref M $500,000 ($1,000
Q-F
I
*
.
53
ELECTRIC RAILWAYS
APR., 1920.]
lake of
Nepigon
Mi/the woods
Rainy Lake
White River
Port Arthur
FortWilli^^^^
its&RO YALE
michipicoten
Ridout
Tower
Ilibbing
ieweenaw
Swan River
-APOSTLE,
Park Rapids
Ontonagoi
PULUTI
Cloquet;
Wadena;
Sault Ste.iMarie
Ishpeming
Sault Ste.
|\4xHum^ldt
Srainerd,
Marie]
Manistiquu*
i
Pembinc
Spooner
Sauk Center
m
iRliinelandei
Miiaca
Monic<
St. Cloud-
^Willmar,
Petoskey
! Prentice.
Nv;gi
r
Alpena"
6>-^7JTurtle take (
\
Ml
Falls
NNIAPp^^^^SX./ P
y-—Eau Clab^^\
dcontou^m^,
Wausau
.Grayling,
-"7
—■
Au Sable
RpdWing'
Appleton"
Mankato;
CADILLAC
V^Mauistee
.ngtonX.
Faribault
Oshkosh,/!
Winona"
Clare
raseca
Big Rapids
Winnebago
City]
Q
LaCrosse.
'Preston
Albert
Saginaw
Lea,
USKEGQ
—WoUl3r\
lADlSON
BKi
GRAND .RAPIDS
/
Xx&jlANSING \\
/7\
---Pontiac
GRANP/Tp
X4ctal
NHAVdNWr
V
/Battle Creek'\
'aukegan
/Homer^/y
1,3
X
\
AdrianX \J/
/
TOLEDO:
gFr^S,
©EPORTEz
(MINES'
*$»/
j\~t
i
X
y i
\Jacksony
acH CAGQW
'(Council Bluffs
\^\
Jl
TT
X-ZJ
/Osceola
~"*
|
'Lima-
!onohx
•Kokomo,/
Bushnelk
Frankfor
nion
Cit;
Danvl
^Trenton
indIanapolIs
"Vuincy
Chiliicothe,
\\
-■Macon"
Decatur
'Rusbvillei
.tchison-
Moberly
Leayenworthv.
\/
1 "X
Jolumbus
-Effingham'^
:31exico
KANSAS'CITY
toreka
.Bedford
iedalia.
Paola"
JEFFERSON
Centralia
CIlY
New Alban;
frankfort
.Mt. Vernon,
Garnett
XouisYille-
/Evansviile
~x}—(jj \J j /I Csceola'1
V,
Ft.ScottX; "/^Xevada
Lebanon
,n dale
iw—z
"fKflKi
X
^/HexiSerson^-fX,
)\
'binon
Owensboro
Girardeai
MAP
\\j
Showing Location and
'
'•
Nature of Properties
Greensburg
Hopkinsyjlk
RAILWAYS COMPANY
I
AND
Harrimam
NASHVILLE
Humboldt,
ASSOCIATED COMPANIES
TO
PROPERTIES
O
Electric (only)
@
Gas and Electric '
/ i
vi
/ J —
xJr*
Gas (only)
X
c
/
Hickman
KEY
\
Gree"/^r3rL
--V-"
—X—~"f—
Jellico
Bowling
OF
UNITED LIGHT AND
-^y^exbgtoA^"
xOwincliester
f
/
TullabomaV
/^HATTANOO
^MEMPHIS
Florence
Hr(ntsviHe
yft
-Holly Springs
fluscumbia
Decatur
/\/—X!
-
^
Gas, Electric and Railways
52
Interurban Railways and
^
Gas and Railways
(Street and
Interurban)
Terminals
\
'Rome
Water
Valley
'Aberdeen J<
Marietta
^S/TRosec
Vi* 7~
<f£/
WertPoint
-^Columbi
Greenwood
birmingham]
Bessemer/
,
vY>
ELECTRIC
54
Bonds.—Of
the
$500,000
1st A ref. bonds, $185,000 are reserved to
equivalent amount of underlying bonds.
No sinking fund.
Dividends.—The Aug. 1917 div. of IA % on the pref. stock was deferred.
retire art
None since.
Year
Gross
Net
Int. &
Pref.
Com. Balance.
Divs.
Divs.
Earnings. Earnings.
Deficit.
Taxes.
$9,000
$226,356
$2,716
$60,517
$54,233
9,000
371
216,510
60,766
52,137
9,000
$8,750
9,964
201,494
59,925
52,139
Latest Earnings.—For cal. year 1917, gross, $236,423; net. after taxes.
ending—
Deo. 31 1916
June 30 1916
June 30 1915
$39.691.
ROAD.—47.7 miles of track.—V. 106, p. 2011; V. 107, p. 1482.
(3) Concord Maynard & Hudson Street Ry.—A trolley road.
Mass. Consul. Rys. owns 2,319 shares of the stock.
The
ORGANIZATION.—Organized in Massachusetts Mar. 27 1901.
Ac¬
quired Concord A Clinton St. Ry. Feb. 1 1902.
On Aug. 25 1911 acquired
Lowell Acton & Maynard St. Ry.
V. 93, p. 1786.
Franchises perpetual.
>
STOCK AND BONDS—
Date.
Stock $235,000 ($100)
1st mortgage $250,000 gold..? 1902
Interest.
Outstanding.
Maturity.
$235,000 See earnings
5 g J-J
230,000 July
1922
($1,000)
c&rntfilnt. at Amer. Trust Co., Boston, Trustee.
Notes payable Dec. 31 1917
85,000
ROAD.—Owns 19 miles of track between Concord, Maynard, Acton,
Stow and Hudson.
At Concord connects with Lexington A Boston, and
Hudson with
at
Year mding—
Dec. 31 1916-
Worcester Consol.
and
Boston
Net.
Gross.
..$81,683
Worcester.
Int.&Taxes. Dividends. Surplus.
$15,562
$9,400
def.$528
16,399
8,691
17,315
9,400
44
$24,434
June 30 1916...
77.354
25,090
June 30 1915_r
76,517
26,759
Latest Earnings.—Cal. year 1917, gross,,
(4) Millers River Street Ry.
'
&
$78,596; net, after taxes, $4,769.
Rights of way have boon partly secured on this company's proposed line
between Millers Falls and Orange.
GREENSBORO,
NORTH
CAROLINA
PUBLIC
ORGANIZATION.—Chartered
N.
SERVICE
C,
CO.
In
North Carolina in 1909.
Purchased
the Greensboro Elec. Co. and Greensboro Gas Co., the eiectric light plant
of the
Point.
In
High Point Elec. Power Co. and the street railway system in High
In 1913 built gas plant and distributing system in High Point.
acquired majority of the stock of Salisbury & Spencer Ry. Co.,
1911
which
company it also leases for 50 years.
V. 93. p. 1324.
Does entire gas.
electric-light and power and street railway business of Greensboro (and its
suburbs
of
Proximity, Revolution. White Oak and Pomona), Salisbury.
Spencer. East Spencer and High Point and street railway business of
Concord.
In 1910 franchises had the foliowlntr number of years to run:
Greensboro, 28 years; High Point, 59 years, Salisbury, Spencer. East Spen¬
cer and Concord. 60 years;
also has a 30-year franchise in Guilford County
and township.
Changes in Stock.—Shareholders on May 15 1917 voted to reduce the
$3,322,900 common stock to $1,500,000 by the exchange, pro rata, of
$500,000 pref. stock authorized for the purpose, said pref. stock to bear
4% div. the first year, 5% the second year and 6% thereafter.
Holders
of each 100 shares of existing stock received In exchange 15 shares (plus frac¬
tion) of new pref. and 45 shares (plus fraction) of common stock.
As of
Mar. 1 1919 about 95% of the stock had been exchanged.
This action will
result In considerable saving in State and Federal taxes.
Rale Increases.—Has been authorized by the Commissioners in the
City of
Greensboro to abolish all reduced-rate tickets and establish a straight 5-cent
fare.
The N. C. Corp. Comm. auth. the co. to increase fares to 7 cents
with 4 tickets for 25 cents, effective Dec. 1918, and to increase its charge
for gas in Greensboro 25c. per 1,000 cu. ft. V. 108,
p. 209.
STOCK AND
BONDS—
Date.
Interest.
Outstanding.
Oomrnorj
$ 1,500.000 ($100).Preferred $1,000,000 ($100)
Greensb El Co 1st M
gold!
.
See
Maturity.
$1,000,000
1st M
gold/
1905
5 g M-N
831.000 May
1 1946
($1.000)—c*tf( Int.
at Mich
Trust Co.. Grand
Rapids,
trustee, or Equitable Trust Co., N. Y.
Bonds.—Of the 1st & ref. rntge., $201,000 are reserved to retire like
amount of mortgage bonds of Greensboro Elec. Co. and $1,172.1(M)
are re
I
for future impts. and acquisitions under proper limitations. V
88.
p. 1128; V. 104, p. 2343; $17,500 canceled
for account of sinking fund,
$193,000 held in treasury and $17,500 in sk. fd.
Subj. to call on any
served
Int. date
at 105 and int.
Sinking fund of 1% per annum of gross income.
July 1915 to 1919; l 'A% July 1920-1924. and 2% 1925 to maturity.
The
remaining $108,000 Salisbury A Spencer Ry. bonds are reserved for future
extensions and impts.
$61,000 are held in treasury.
Are guar., p. & L.
by the North Carolina Public Service Co.
Redeemable at 105 and Int.
on
6 months'
notice.
Interest.
'
Bat., Surp.
$158,239
$133,125
705,373
273,869
157,310
116,559
Passengers carried during year ending March 31 1919, 3,975,983, against
3,818,623 in 1917-18.
—_
On Nov. 30 1917 acquired control of the Chambersburg Greencastle A
Waynesboro Street Ry. Co., which see below, and issued $300,000 collateral
gold notes in connection therewith.
V. 105. p. 2365
On May 19 1919 the stock of the Northern Virginia Power Co. was pur¬
chased by interests operating the Hagerstown & Frederick Ry. Co., E. L.
Coblentz, Pres. of the H. & F. Ry., was made President of the Power Co.
The organization of the H. A F. Ry. Co. operates the property of the North ern Virginia Power Co.
Transmission lines of the co. are connected with
those of the Northern Virginia Power Co. at Martinsburg.
Compare
V. 108, p. 2022.
On May 7 1917 the shareholders unanimously approved the plan pre¬
sented by the voting trustees providing (a) for the retirement of the then
existing $1,225,000 5% convertible adjustment bonds, $635,000 7% cum.
pref. stock and $2,000,000 com. stock; (6) issuance in lieu thereof of $600,000
10-year 6% notes, $842,500 6% cum. pref. and $1,512,950 new com. stock.
The voting trust, Frank A. Furst, Henry Holzapel and William H. McCarThis plan was consummated on May 9 1917.
dell, trustees, was dissolved.
In Nov. 1919 the co. issued $550,000 1-yr. 6% coll. trust notes, proceeds
being used for corporate purposes and to reimburse the co. for expenditures
made and to be made.
V. 109, p. 1700, 2439; V. 110, p. 261.
Fares.—In July 1918 increased zone fares from ,5 to 7 cents.
trust 5%
STOCK AND BONDS—
Dale.
Common $2,000,000 ($50)
Preferred 6% cumulative($50)
—
,
ROAD.—Owns 27.41 miles of track.
60 and 70-lb. T and 90-lb. girder
rails.
Standard gauge.
39 cars, 15 new "Safety One Man'' cars were
Installed
in
1917.
Connecting extensions between the various cities
proposed.
Electric plants capacity 2,800 horse power (also purchases
Southern Power Co.); 166 miles transmission lines. Gas plants
capacity 820,000 cu. ft. per day. 68 miles of mains; electric light customers,
5,232; power, 340: gas, 3,817; total, 9,421.
OFFICERS.—Pres., O. B, liole: V.-P., Wescott Roberson; Sec. A Treas.,
L. H. Hole Jr.; Geu. Mgr., R. J. Hole.—V. 108, p. 269, 2635.
are
power from
Outstanding.
Maturity.
$1,512,950
883,800
1st A ref M$10,000,000 ($100. \ 1914
6 g A-O
1,359,000 Apr 1 1944
$500 & $1,000) g s f.c.cpt/Fidelity Tr.Co,,Balt.,Tr.
Int.pay.in Bait.
Hager & Myers Ry $125,000.. 1904
5%
120,000 July
11924
Hagers A Boonsb Ry 1st MI 1902 '
5 F-A
110,000 Feb
1 1922
$120,000 ($500A $1,0OO)c*llnt. at Maryland S. A Tr. Co., Hagerstown.
Hagers A Nor RR 1st rntgef 1908
5 g F-A
200,000 Mar 1 1927
$200,000 gold ($1.000, $500 Int. at Maryland S. & Tr. Co., Hagerstown,
and $100)
_c»!
Trustee. Win. Jennings.
Fred & Middletown 1st mtgef
1905
5 g J-J
126.000 Dec 11935
$250,000 gold ($l,000)-_,ciFidelity Trust Co., Baltimore, Trustee.
Fred Gas A Elec 1st M $200,
1904
5 J-J
179,000 July 11929
000 g (S500&S 1.000) g.pAi Interest at West End Trust Co., Philadel¬
by Fred RR; not sub to call
phia, Trustee.
1908
Monoeaoy
Valicy
Ry
first
5%
30,000
1925
Steiuer Schley & Leonard Waesche of Fredmortgage
_
1978
198
ORGANIZATION.—Incorporated In Mississippi in 1905.
Purchased
the Biloxl Electric
Ry. & Power Co. and the Gulfport Development Co
In 1907 increased auth. stock from $1,000,000 to $2,000,000.
STOCK AND BONDS—
Stock $2,000,000 ($100)
1st
mort
$1,000,000
($1,000)
Date.
Interest.
Outstanding.
$1,000,000
Maturity
..
goldl 1905
6 g A-O
1.000.000 Sept 30 1935
tfllnt. at llibernia Bk. A Tr. Co., N. OrL, True
($1.000)
ctf) 1907
6 g J-J
692.000 Julv
6 g J-J
149,400
IHibernla Bank A Trust Co., Trustee.
tntge.,g.|
1903
1 1932
Jan
11924
($100. $500& $1.000;
tfllnt. at Hibernia Bk.A Tr Co.. New Orleans
Interest coupon
debentures../
6 A-O
130,200 April 1 1927
lint, at First Nat. Bank, Gulfport.
Bonds.—The bonds of 1905 are subject to call on Oct. 1 in any year at
105;
sinking fund.
Interest on 2d mort. is payable at First Nat. Bank,
Bonds have uo s. f. and are not subject to call.
The Biloxi
Electric Railway A Power bonds are subject to call at 106 and interest.
no
Gulfport.
EARNINGS.—For
IVl d
Trust668
Ml 1899 ' 5 J-i
* 50.000 July 1 1929
lint, at First Nat, Bank, Frostburg, Md.
1st
Collateral gold notes $300.000c
Coll
tr
notes
$550,000
gold
000)
Notes-
—
.
Stock.—The
1917
5 M-S
280.000
Sept 1 1932
($!.-/ 1919
6 g M-N 1
550,000 Nov 1 1920
ctf (Mortgage Guarantee Co., Bait., Md., Tr.
1917
6%
600,000
1927
pref. stock
,
is redeemable at
par
dividends.
and
Bonds.—-of the new
$10,000,000 rntge,. $815,000 are reserved to retire
prior liens, $420,000 are pled&ed under the coll. tr. 6% notes of 1919 and
remainder for additions, impts,, Ac., under certain restrictions (V. 98,
p. 1694: V. 104, p. 163).
Reserved bonds when issued to bear int. at rate
or rates not exceeding
6% or lass than 4 %.
Sinking fund from Oct. 1 1919,
payable semi-ann.; till Oct. 1 1926, 1% of 1st & Ref. 6s and prior liens;
1927-1934, 2%; 1935-1944, 3%.
Red. at 105 and int. on any int. date.
Tax refund in Pa.
The Hagerstown & Boonesboro Ry. bds. are red. at
par.
Hagers. & Nor. RR. bds. are subj. to call aft. 1917.
Fred. & Midd.
bonds are red. at 105 on any int. date.
Fred. Gas & El. bonds are guar.
p. & i., by Frederick RR.
'
1
,
AJotes.—The coll. trust notes of 1917 are secured by pledge of stock of the
Chambersburg Greencastle & Waynesboro St. Ry. Cq< which said notes
were issued to purchase.
The coll. trust notes of 1919 are secured by $420,000 of the co.'s 1st & ref. 6s.; $120,000 6% pref. stock and $80,000 1-year
note of the Potomac Lt. & Pow. Co. due Nov. 1 1920 and the co.'s equity in
the pref. and com. stocks of the C. G. & W. Ry. Co.
Year—
1919.
Net.
Deductions.
$384,243
247,244
--$946,352
718,632
604,711
u
V. 109, p. 1700.
Dec. 31:
Gross.
$288,324
208,943
184,766
246.688
Surplus.
$95,919
38,301
61.922
ROAD.—Operates street railways In cities of Hagerstown and Frederick
Md.. and an interurban railway extending from Frederick to Hagerstown,
with extensions from Frederick to Thurmont, Md., also from Hagerstown to
Shady Grove, Pa., and with branch lines to Boonsboro and to Jefferson, Md.
Mileage operated aggregates 87.5 miles.
The controlled Chambersburg
Greencastle & Waynesboro Street Ry. operates 31 miles of track from Blue
Ridge Summit to Chambersburg.
The extension from Chambersburg to
Red Bridge Park was leasfxi to the Chambersburg & Shippenburg Ry. of
Charabersburv, Pa.
OFFICERS.—Pres., Emory L. Coblentz. Frederick, Md.; V.-Ps., Henry
Holzapfer, Hagerstown, and F, Howard Warfield, Baltimore; Sec., M. P.
Moller, Hagerstown; Treas., Thomas II. Haller, Frederick; Gen. Mgr.,
M. A. Pooler.—V. 104, p. 163, 1863, 2010; V. 105, p. 389, 909, 2365;
V. 106, p. 2757; V. 108, p. 2022; V. 109, p. 1610, 1700, 2439.
(a) Chambersburg
Greencastle
&
Waynesboro
Street
Ry —On
30 1917 the Hagerstown & Frederick Ry. acquired control.
ORGANIZATION.—Incorporated in Pennsylvania on June 17 1901
owns an electric-light plant; capital, $50,000.
STOCK AND BONDS—
Common
ending June 30 1918, gross, $283,361; net,
int., $98,913; deficit, $54,5-49.
In 1917, gross,
year
$59,493; taxes, $15,207;
$269,736; net, $104,267.
ROAD.—Operates 13 miles of track from Gulfport to Biloxi and 11 miles
from Gulfport to Pass Christian: also 6 miles of track In Biloxi: total. 30
m.
OFFICERS.—Pres., W. T. Stewart; V.-P., Jos. Van Clooster; Sec., J. O
Simpson; Treas., P. A. Stilwell; Gen. Mgr., W. F. Gorenflo. all of Gulfport.
—V. 83. p. 95; V. 105, p. 290.
HAGERSTOWN, MD.
THE HAGERSTOWN
&
FREDERICK RY. CO.
ORGANIZATION.—Incorp.
Apr. 7 1913 In Maryland as a consolida¬
El. Co., Myersville A CatocRy-;,Hagerstown Ry., Hagerstown A Boonsboro RR.. Hagerstowu &
Myersville RR., Hagerstown & Northern RR. and Frederick &
Hagerstown
tion of the Frederick RR., Frederick Gas &
Power Co.
V. 96. p. 947, 1422.
In 1914 purchased properties of the FrostIn 1916 acquired control of the Potomac Lt. A
Co.. Martinsburg. W. Va.
(V. 104. p. 163.)
Franchises are per¬
petual or extend at least 15 years beyond life of bonds.
burg Ilium. & Mfg. Co.
Pow.
Date.
Interest.
Outstanding.
$300,000
Maturity
$300,000
Preferred $300,000 non-cum.First mortgage $300,000
•
-
300,000
gold/
1903
5 g J-J
300,000 July 1 1933
c*tf [Interest at Chambersburg Trust Co., Trtutee
($100 and $500)
Second
mortgage
$300,000/
1907
5 g A-O
299,500 Oct
1
1937
($100 and $500) gold._c*tflint, at Chambersburg Trust Co., Trustee.
1st ref rntge $1,000,000
and
$500)
($100/ 1910
-
5 A-O
193,900 Apr
1
1940
tfllnt. at Chambersburg Trust Co.. Trustee.
Bonds.—First mtge. bonds nave no sink. fd. and are not subj. to call.
2d mtge. bonds are subj. to call on any int. period at 105.
No sink. fund.
Remaining 1st ref. bonds are reserved to take up underlying bonds and for
improvements.
EARNINGS.—Years ending Doc. 31:
Year—
Gross.
Net.
GULFPORT & MISSISSIPPI COAST TRACTION CO.
2d M gold
--
—-
Griclc
Frostburg 111 A Mfg
30-year bonds
extensions and
GULFPORT, MISS.
BI1. EL Ry. A P. 1st
Interest.
_
Nov.
EARNINGS.—For years ending Dec. 31:
Calendar Year—
Gross.
Net after Taxes.
1919
$856,756
$291,363
1918—■
[Vol. 110.
EARNINGS.—For years ending
text
See text
8eo text
1902
6 g A-O
$170,500 April 1 1932
($500 A $1,000)
..ctfllrit, at Equit. Tr Co.. N. Y.. trustee.
Greensb El
Co
rof & lmptl 1905
5 g A-O
30,500 June
1930
M ($500 & $1,000)
ctf/Int. at Bankers' Tr. Co., N Y., trustee.
Flrst&ref.m .$3,500,000(100.) 1909
5 A-O
2.126,900 Apr
11934
$500 and $1,000). c*Ar* tfllnt. at Equitable Trust Co., N. Y\, trustee
Sallsb A Speu Ry
RAILWAYS
$267,241
222,665
—
ROAD.—See
$86,301
78,734
Other Inc.
$4,623
3,650
Hagerstown & Frederick Ry. above.
Deduct' ns.
$71,846
Surplus.
$19,078
60,969
21,415
I
OFFICERS.—Pres., Emery L. Coblentz; V.-P., W. L. Minick; Sec.,
D. N. Benedict; Treas., J. P. Shank; Asst. Treas. & Div. Mgr., R. D,
Sefton; Gen. Mgr., M. A. Pooler; Gen. Aud., II. E. Town.
V. 90, p.
236; V. 92. p. 186; V. 105. p. 388.
HAMPTON, VA.
NEWPORT NEWS & HAMPTON RY.. GAS & ELECTRIC CO.
Allen & Peck, Inc.. of Syracuse, acquired control of the common stock
In June 1916 at $30 per share.
About 10.500 shares of the common stock
have been placed In a voting trust for 5 years (to 1921).
Voting trustees
are: Moreau Delano. New
York; B. Howell Griswold Jr., Baltimore, and
O.
Loomls
Allen.
Syracuse.
ORGANIZATION.—This company was organized In 1914 as the consoli¬
dation of the Newp. News & Old Pt. Ry. & Elec. Co., Citizens' Ry. Light
A Power Co., Hampton Roads Traction Co., Newport News Gas Co. and
the Hampton Phoebus A
Fort Monroe Gas Corporation and provides rail¬
and electric light and power facilities for the Virginia Peninsula.
Franchises.—For electric light and power, perpetual; for street railways,
practically none expires before 1944.
Gas franchises in Newport News are
way, gas
perpetual, subject to right of purchase of property by city (for 6 months In
1927); in Hampton, gas franchise expires in 1936.
Interurban lines largely
on private right of way.
The Hampton A Langley Field Ry. was incorp. in Virginia In Feb. 1917
with $25,000 capital (increased in Oct. 1917 to $100,000, to build
a line
3.1 miles long between the points named.
The line will be built and opera¬
ted under traffic agreement by the Newport News A Hampton Ry., Gas &
Electric Co.
In Augus
1917 the authorized capital stock was increased from $1,125,and $1,250,000 6% cum. pref. stock to $2,000,000 common
7% cum. p'-ef. stock.
In Dec. 1917 the $1,000,000 6%
pref. stock outstanding was exchanged for $850,000 7% pref and $150,000
com. stock.
The pref. stockholders have agreed to take $250,000 addi¬
tional pref. stock at par, to be issued for construction requirements, $6,900
01 this stock had been issued to Dec. 8 1917.
V. 105, p 2272.
000
and
common
$2 000,000
Am..
55
1920.]
STOCK AND BONDS—
Comm°n $2 000,00°
Preferr'Hl $2,000,000 7% cum
Date
lsi&£ef.57,500.000 g(S1001 1914
Common $4,000,000 ($100)~
Pref 4% n-c, $4,000,000 ($100)
'856,900 See text.
3.734.000 Jaa 1 1944
7 J-J
5 g J-J
$500 <fc $1,000)
c*.tf/Maryland Trust Oo. of Baltimore, Trustee.
Newport News <<c OldPt. Ry. & El.—
OFFICERS.—Pres.. D. A.
New York: Sec. and Treas.. F.
I
orat company s agency in
Owns and operates a local
Mass. and Southeastern N. H«
Haverhill, Lawrence, Lowell, Nashua»
Amesbury and Newburyport.
Power is purchased from the Rockingham
County Lt. & Pow.lCo. under a contract extending beyond July 1 1934.
Fares.—On Nov. 1 1916 was authorized by the P. S. Comm. to increase
single cash fares from 5 to 6 cts. and the price on ticket books by 20%.
On July 1 1918, however, was auth. to go back to the 5-cent fare and
adopt a zone system under which fare sections were divided into two zones
with a minimum cash fare of 5 cts. for each zone or portion thereof; tickets,
good for certain hours of the day, being sold at the rate of 10 for 75 cts. On
Dec. 12 1918 was
authorized by the I.-S. C. Commission to increase
commutation rates over certain lines.
Compare V. 107, p. 602.
In
Sept. 1918 filed with the Mass. P. S.| Coram, a new tariff effective
Oct. 14 1918, increasing fares from 5 cents to 6 cents.
V. 106, p. 1192.
In Nov. 1918 again filed a new tariff, effective Nov. 14 1918, increasing
fares from 6 to 7 cents.
V. 107, p. 1920.
In April 1919 the company filed
a still higher tariff, effective May 23 1919, increasing single cash fares to
lOicents.
On May 21 1919 the I.-S. C. Comm. approved an increase in
notice.
Maintains
Int.
payable at Alexander Brown & Sous. Baltimore, or company's
Bait., is trustee of both the first
News & Old Point Railway &
Electric.
The Newport News & Oid Point bonds of 1898 are subject to
call at 110 on any interest day at 60 day9 notice.
The Citizens* Railway
agency in N. Y.
The Maryland Tr. Co.,
and general mortgages of the Newport
Light & Power Co. bonds are subject to call at 110 on any interest day on
60 days' notice.
Remaining Newport News & Old Point Ry. & El. gen.
M. 5s, Citizens' Ry. L, & P. 1st M. 5s and Hampton Roads Trac. 1st M.
4Hs are deposited under the Newport News & Hampton Ry., Gas & Elec.
1st & ref. M.
paid regularly on pref. stock.
A div. of
stock was paid July 1 1916; in 1917, May, 5%; in 1918,
May, 5%.
EARNINGS.—For year ending Dec, 31:
Calendar
Gross
Net (after
Other
Interest,
Balance.
Year—
Earning•*.
Taxes)
Income.
Rents, &c.
Surplus
Dividends.—Divs. have been
3% on the
May, 5%;
common
in
1919,
—$2,718,837
Pref 0% cum ($100)--First and ref M $2,000,000/
PA.
which
under Scranton, Pa.
Operated by United Service Co.
ORGANIZATION.—Incorp. in Peuna. in 1892.
Its charter runs for
999 years.
Owns all the ($100,000) stock of the Flanover Light Heat &
see
Co.
/
.
-
Date.
Interest■
Outstanding.
in Mass. and 46
Maturity
$135,000
1918,10%
First mtg $500,000 g ($ 1.000)1 1908
5 g J-D
400,000 June 1 1928
subject to call at 105__c*tf (Interest at York Trust Co., York, Pa.. Trus.
Bonds.—Of remaiulug bonds $100,000 are reserved tor extensions. &c.
Dividends.—Iu July 1894, 2^%; lu 1895. Jan.. 2^; 1897-1902 records
lost.
1903 and 1904 none.
In 1905, Jan., 6%.
In 1906 and 1907, none:
Jan. 1908 to Jan. 1913, incl., 6% per annum.
In Julv 1913 50% stock
div. paid; Jan. 1914 (reg.), 4%; July, 2%.
In 1915, Jan., 3%.
In Dec.
1917, 9%: in 1918, 10%.
Stock
$200,000 ($50)....,
calendar years:
i
Gross. Net,aft.Tax. Bond Int.,&c].
Balance.
$71,175
$38,274
$20,260
sur.$18,014
122,890
41,407
20,399
sur. 21,008
11.6 miles of track in and between Hanover. McSherrys-
EARNINGS.*—For
Year—
1918
1917—ROAD.—Owns
Standard gauge.
towu. Llttlestowu and Conewago Chapel.
126 miles of single track (80 miles
extending east and west from Haver¬
Newburyport, Merrimac, Salisbury and
Amesbury, Mass., and Plalstow and Newton, N. H.,
and on the west
Lawrence, Methuen and Draeut, Mass., and Salem, Pelham and Hudson,
N. H.
Enters Lowell and Nashua under trackage rights.
Owns and oper¬
ates local lines In Newburyport and Amesbury.
Connects with the Bay
State St. Ry.-. Manchester & Nashua St. Ry. and the Exeter. Hampton
<& Amesbury St. Ry.
Also owns a large amusement park on Canoble Lake
in Salem, N. H.
80 open and 49 closed cars and 25 work cars and snow
ROAD, &c.—Owns and operates about
September 1918 increased fares to 6 cents.
STOCK AN L) BON US—
Somersworth
Dover
(2)
Ralph D. Hood.—V. 108, p. 1511,
Rochester St. Ry.
owned by New Hampshire
&
,
All the stock and $236,000 bonds
Elec. Rya.
Is
ORGANIZATION.—Chartered under the laws of New Hampshire.
consolidation of the Union Elec. Ry. and the Rochester St. Ry.
&
Date.
STOCK AND BONDS—
Stock $375,000 ($100)
First mtge g $300,000
Outstanding.
Interest.
Maturity.
$375,000
.....
5 g J-J
see text, July 1 1921
000); bds cannot be called! Int. at Amer. Tr. Co..
Boston, Trustee.
Bonds.—All the bonds except $64,000
are owned by New
Hampshire
PA.
RAILWAYS.
cal.
EARNINGS—For
gross,
1919,
year
ROAD.—Owns and operates about
Date.
$15,107.
In 1917,
21 miles of line.
OFFICERS.—Same as for Massachusetts
Interest.
Outstanding.
Maturity.
$3,000,000
See text
2.100,000 Oct'17 1%
First & ref. mtge $10,000.0001
1912
5 J-D
3.169,900
19G3
($1,000 and $500)
tf'Harrisburg Trust Co., Trustee.
Citizens'Passenger first mtge( 1894
6 g M-N
75.000 May 1 1924
$75,000 gold
f Int. at Com'w'th Guar. Tr. Co.. Harrisburg.
STOCK.—Pref. stock was cum. at 5% until Jan. 1 1915; since, 6%.
Dividends.—3?4% was paid on pref. stock in 1913
In 1914, 5%.
In
1915, April, 2
%; Oct., 1%. In 1916. April. 1^%. In 1917. April ,1*4%',
.Oct1%.
None since.
EARNINGS.:—For calendar years:
'
Gross
Net
Fix. Chgs.,
Balance,
I
Period—
Earnings.
Earnings.
&c.
Surplus.
Calendar year 1919
$1,603,339
$614,093
$469,095
$144,998
Calendar year 1918
1,301,116
427,767
430,883
def.9,116
ROAD.—Owns 12.47 miles and leases 61.04 miles of line.
Total op¬
erated, 73.51 miles.
OFFICERS.—Pres. & Gen. Mgr., F. B. Musser, Harrisburg; Sec., John
O'Connell,
Office, Harrisburg.—V. 96, p. 209; V. 98, p. 155; V. 101. p.
$134,239: net. after taxes,
gross,
1918, gross, $112,414: net, after taxes,
$118,379; net, after taxes, $17,972.
In
$18,818.
1912) and its subsidiaries.
V, 96, p. 202.
Strike.—On July 16 1916 the company's men went out on strike and
operations were hampered for about four weeks, but early in Sept. 1916.
Pres. Musser reported that service and receipts were back to normal
Fares.—Effective Dec. I 1918. began charging a 6-cent fare.
In Mar.
1920 the Penna. P. S. Comm. dismissed a complaint against
this rate.
V. 110, p. 970.
Sept.
($1,-7. 1901
Rys. Co.
Elec.
ORGANIZATION.— Incorp. lu Penn. on Nov. 29 1912 and merged
the Central Pennsylvania Traction Co. (see "Electric Railway" Section of
STOCK AND BONDS—
F. E. Webster; V.-P.
1721, 2123.
OFFICERS—Pres., D. A. Belden; V.-P. & Treas.,
& Gen. Mgr.,
a
HARRISBURG,
,
plows.
65-lb. T and
OFFICERS.—Pres., F. B. Atherton; V.-P., E. H. Ramsbothan; Sec.
Treas., J. J. Grace.—V. 100, p. 1257; V. 103, p. 2340.
In New Hampshire)
hill, Mass., entering on the east
girder rails
HARRISBURG
Maturity.
$1,500,000
6%
665.000
1914
5 g J-J
870.000 July 1 1934
($1,000) gold.
c*[lnt. at Atuer. Tr. Co., Boston, Trustee.
Citizens' Elec St Ry 1st M[
1900
5 g J-D
230,000 Dec 1 1920.
$230,000 gold
\Beacon Trust Co., Boston, Trustee.
Bonds.—The 1st & ref. 5s of 1914 are red. at 110 and Int. on any Int. date
on 43 days' notice.
Of the remainder of these bonds auth., $293,000 are
reserved
for prior liens and $900,000^reserved for cost of additions and
Impts. under certain restrictions (V. 100. p. 55).
EARNINGS—For year ending Dec. 31 1919, gross, $971,700; net, after
taxes, $183,594.
In 1918, gross, $782,204; net, after taxes, $87,710.
($100)
stock
Common
& McSHERR YSTOWN STREET RAILWAY CO.
1916 control was acuuired by the Keystone Utilities Co.,
Fares.—In
Ry. 1st & ref. 5s
Outstanding.
Interest.
Date.
STOCK AND BONDS—
HANOVER
Power
1st M. 5s, due Oct. 1 1919, were taken
up at maturity, a like amount of Mass. Northeastern St,
being issued in connection therewith.
$732,598
611,034
HANOVER,
V. 108, p. 2123.
The $63,000 Amesbury & Hampton
.
In Nov.
through service between
ocal fares.
$13,903
$305,644
$440,856
1918
2,168,486
8,399
255,306
364,127
PROPERTY.—Owns and operates 48.59 miles of tracK.
Power plant
with 10.300 k. w. capacity; 2 ga* plants; electric-lighting system.
OFFICERS.—Pres
J. N. Shannahan; Vice-Pres. & Gen. Mgr., E. F
Peck; Treas., Wra. Stewart; Sec., Richard M. Booker, all of Hampton.
Peck-Shanahan-Cherry. Inc., ooerate the road.—V. 105. p. 716, 812. 998.
2272; V. 106, p. 602, 1231, $117; V. 107, p. 1101. 1837; V. 108, p. 1512.
1919
a
Northeastern
railway in
interurban
and
68,000 Jan
414 J-J
Northeastern Street Ry.
is owned by the New Hampshire Elec. Rya.
ORGANIZATION.—A Mass. corporation.
1 1930
Bonds.—Of the first and ref, bonds, $1,081,000 are reserved for prior liens
as above,$3,000 are in treasury and
the remaining $2,682,000 are for impts.
& exts. Bonds subj to call at 105 & Int. on any int. day upon one month's
1905
Belden. Haverhill: V.-P., M. N. Buckner,
J. Home, New York.—V. 103, p. 493.
All the stock of this company
First mtge Citizens'Ry L& P[ 1900
5 g M-N
69.000 May 1 1940
$800,000 ($1,000) gold
c*j
Maryland Trust Co., Baltimore, Trustee.
Guaranteed priii & hit
(Interest at Alex. Brown & Sons, Baltimore.
Hampton Roads Trar 1st M_.
Massachusetts
(1)
New York.
None since.
In 1917, 3%.
In July 1916, 2%.
July 1915, 2% s.-a.
c»-i Int. at Alex. Brown & Sons, Baltimore, Md..
($1,000 each)
-
3,399.500 July'17.1%
on pref. from July 1908
J-J
DIVIDENDS.—Company paid 1% each 6 mos.
to and incl. Jan. 1910.; July 1910 to Jan. 1912. IJi% s.-a.; July 1912 to
First mortgage $900,000 gold
j 1898
I 5 g M-N
900,000 Nov 11938
($1,000 each)..
_c* tf (Interest at Alex. Brown & Sons, Bait., Md.
General mtge $4,000,000 gold f 1901
5 g M-S
44,000 Mar 11941
„
$3,900,200
-
——
Last Div-
Outstanding.
Interest.
Date.
STOCK—
Outstanding
Maturity.
$1,275,000 May'19, 5%
Interest.
HAZLETON,
Northeastern St. Ity.
PA.
Common $3.000.000...
Pref
WILKES-BARRE &
6% cum $2,100.000
ORGANIZATION.—Incorporated In New Jersey May 1901 and acouired
stock and ($1,500,000) bonds of the Wilkes(Pennsylvania Incorporation) and deposited
the same, together with $ MO,000 (entire issue) of the Lehigh Traction Oo.'s
5% certificates of indebtedness and $926,200 of the $1,000,000 stock of
the Lehigh Traction Co. as security for the Wilkes-Barre & Hazieton Rail¬
road Co. issue of first collateral trust mortgage 5% gold bonds.
V. 72.
p
1281.
Franchises are 999 years In and around Hazieton and perpetua'
from Hazieton to Wilkes Barre.
the entire ($1,500,000) capital
Barre & Hazletoii Railway Co.
-
.
,
1013, 1272; V. 104, p. 1591; V, 107, p. 1192; V. 110, p.
RMI.VVAVS
ORGANIZATION.—Incorporated la
Interest
of
8TOCK AND
109,
p.
BONDS—
$2,000,000 ($100)
Pref cum $500,000 ($100).—
Collateral trust $1,700,000 tf
1181.
Dale.
1914 to
Co.
Pennsylvania In July 1912 and in
It
Interest.
Common
-
1912
6%
5%
|
5 g A-O
HAMPSHIRE ELECTRIC
....
Maturity
$2,000,000
.
500.000
1.000.000 Aug 3 1952
700 000 Oct I 1933
—
-
A
a
was
the result of a strike
subsidiary*
$2,500,000
Date.
Interest.
Outstanding. Maturity.
$2,500,000
($100)
said bonds to bear not
EARNINGS.—For
Year—
Gross.
Sec. &
.
.
---•
-
-
185.600
1901
5 g M-N 15
1.900,000 May
.c* f Int. at Guaranty Trust Co , N. Y.
.
.
151951
less than 5%. or may
be red. at par In cash.
cal. years (incl. allied companies):
Net.
Taxes.
Int.
Res. &
Depr.
Deficit.
$88,367
$13,554 $188,190 $115,440
99,152
16,753,. 189,218
114,283
Houck;
OFFICERS.—Pres., A. Markle; V.-P. & Gen. Mgr.. O. B
Sec
N. C. Yost; Asst. Sec., A. Markle Jr.; Treas., Win, H. Romiek.—
V. 83, P- 1292; V. 87, p. 679; V. 98, p. 1539.
1919
.$673,891
19181-—-. 570,248
MASS.
RYS.
ORGANIZATION.—A voluntary association succeeding the New Hamp¬
(1)
|Traction Co. on Aug. 24 1905.
Owns ail the stock of the fo'iowing
ompanies: ln|New Hampshire. Dov.. Bomersworth & Rochester St. Ry
Co.; Rockingham County Light & Power Co.; Newmarket Electric Co.
(V. 103, p. 499); Granite State Land Co.; in Maine, Kittery Electric Light
Co.; in Mass., Mass. Northeastern St. Ry. Co.
Also owns all the bonds of
the Dover Somersworth &
Rochester St. Ry. (except $74,000), of the
Amesury & Hamntnn St
Ry. (except $47,000) and of the Citizens' Elec.
St. Ry. (except $230,000)*
shire
,
Irustee
Collateral trust mortgage $!.-(
1905
5 g A-O
1,227.000 Oct 1 1946
500.000 gold ($1.000) ....cf Int. at Guarauty Trust Co.. N. Y .. Trustee.
Bonds and Stock .—Of the authorized Issue of $2,500,000 coll. trust bonds of
1901. $600,000 are reserved to retire all bunds of the Lehigh Traction Co.
A
sinking fund of $20,000 per annum, which began June 1 1908, is to he In¬
vested in the collateral trust bonds or In bonds purchasable by savings
banks in New York State,
See V. 72. p. 1281; V. 78. p, 289. The collateral
trust bonds of 1905 have a sinking fund of 810,000 per annum, which began
In 1910.
Bonds can be called at 110.
Preferred stock can. at option of
company be changed at any time Into the bonds of the compauy, at par.
General offices. Lemoyne.—V. 109, p. 1181.
HAVERHILL,
NEW
1951
500.000 gold ($1,000)
Outstanding.
OFFICERS.—Pres. & Gen. Mgr.. <3. H. Bishop, Lernoyne. Pa.;
15
STOCK AND BONDS—
Carlisle.
Treas., C. M. Davidson.
May
Pref 0% non-cum $700.000 ...
Collateral trust mortgage $2.-1
prior liens.
Valley Traction bonds are subject to call at 110.
A sinking
fund of $5,000 per annum commenced Oct. 1 1908.
EARNINGS.—For year ending Dec. 31 1919, gross, $497,486; net, after
taxes, $106,971.
In 1918, gross, $378,843; net, after taxes, $123,163.
ROAD.—Operates 44 miles of road from Harrlstmrg to Marysvllie and
to
collateral trust mtge.
was not paid when due.
In lieu of paying the
requested to surrender their coupons, due May 16
Nov. 15 1916. and In return the company issued non-lutnrest-bearlng
Common
Trac 1st M $700,000! 1903
gold ($100 & $500) .-C*ntf 'Int. at Farmers' Tr. Co., Carlisle, Pa., Trus.
Bonds.—Remaining coll. trust bonds ($700,000) are reserved to retire
Valley
Bonds.— The May 15 1914 Interest on the
they become due.
See V 9m, p. 1539.
The
of the employees of the Lehigh Traction
rf he interest due May 15 1914 was pai<jl June 15 1916.
and that due Nov. 15 1914 was paid Nov. 20 1916.
A supplemental agree¬
ment, dated Feb. 15 1918, was made between the company and the bond¬
holders by which the remaining unpaid past-due coupons were extended for
a further period of five years,
or a total of eight years from the date On
which they originally fell due.
Coupons affected are those for May 15
1915, Nov. 15'1915, May 15 1916 and Nov. 15 1916.
1917, 1918 and 1919
Interest paidi when due.
default
970.
.
on
due
certificates for the coupons as
Sept. 1912. after increasing Its stock from $10,000 to.$2,500,000 (of wnicn
$500,000 in 6% cum. prof.}, purchased control of the Valley Traction Co..
which in turn controlled the Harrisburg & Mechanicsburg Eiec Ry., White
Hill & Mechanicsburg Pass. Ky.* Carlisle & Mechauicsburg St. Ry,, West
Fairvlew <& Marysville Elec. St. Rys.. Harrisburg & Rlverton St. Ry.,
Falrviow & Rlverton Ry
and the United .Electric Co.
Fares.—On Sept. 11 1919 the Penna. P. S. Comm. handed down a decision
sustaining the 7-cent fare charged by the co.
V. 109, p. 1181.
V.
1901
interest bondholders were
VAI.l.HV
Valuation.—See
HAZLETON RR.
$228,818
221,102
Lehigh Traction
Co.—A trolley road.
ORGANIZATION.—Chartered Nov. 7
1892. Franchise perpetual.
Owns, controls and leases for 999 years at an annual rental'of $1 each the
Hazieton & Suburban Electric Ry.. capital $30,000;
Hazieton & Soutb
Bide Electric Ry.. capital $75,000; Hazieton & North Side Electric Ry..
capital $75,000.
The $140,000 certificates of Indebtedness and $926,200
of Lehigh Traction stock are deposited as security for the Wilkes-Barre As
Hazieton RR. bonds of 1901.
$
Outstanding. Maturity
$1,000,000 ---------1893
5 g J-D
500.000 June 1 1923
($100. $500. $1.000)
c'JMarkle Bkg. & Tr. Co.. Hazleton, Trustee.
Certificates of Indebtedness
;!
140,000
Hazle Park bonds, $60,000— 1895
5 g A-0
60,000
1925
Equip trust ctfs. Series A
1915
F-A
33.000
1925
The equipment trust certificates cover 10 steel cars and mature $3,000
•emi-ann.
Penna. Co. for Ins. on Lives & Granting Annuities, Phila., Pa.,
Date.
STOCK AND BONDS—
Interest.
Stock $1,000,000 ($100)—
First mortgage $500,000 gold)
is trustee.
.
ROAD.—Operates 20 miles of track, new 90-lb. steel T rails, oak ties, well
Road extends from Hazleton to West Hazleton, to Yorktown
(connecting with Pennsylvania Kit. and Lehigh Valley RR.), to McAdoo
(south) and Milnesville, Latimer Mines and Freeland (north).
OFFICERS.—Pres., A. Markle; V.-P.. C. B. Houck; Sec. and Treas.
N. C. Yost; Gen. Mgr., O. B. Houck.—V. 99, p. 984. 1598. 1673.
ballasted.
trolley, steam and third-rail road
ORGANIZATION.—Chartered Dec. 13 1899 under General Railroad
Law Act of April 4 1868. State of Pennsylvania.
The Wilkes-Barre &
Wilkes-Barre & Hazleton Ry.—A
(2)
Hazleton BR. owns the entire stock and
Date.
STOCK AND BONDS—
Stock
$1,500,000 full paid
Outstanding.
Maturity.
$1,500,000
—
-
mortgage
198-'
1901
$1,500,0001
Phila., Pa., is trustee.
ROAD.—Owns 27 miles of road from
Hazleton to Wilkes-Barre, and uses
1 mile Lehigh Traction Co. track at Hazleton and 3 miles
Terminal RR. Co. track at Wilkes-Barre; total, 31 miles.
Entire road placed in operation May 1 1903.
Rails, 95 lbs.
OFFICERS.—Pres., Alvan Markle; V.-P.and Gen. Mgr., O. B. Houck:
Sec. and Treas., N. O. Yost.
for terminals
Wilkes-Barre
(a)
Wilkes-Barre Terminal
N. C. Yost.
CO.—Trolley, electric light and
light and fuel.
ORGANIZATION.—Incorporated In Connecticut In Sept. 1905 as suc¬
to the Helena Light & Traction Co.
V. 81, p. 1043.
Controls the
Helena Gas Light & Coke Co.; comprises the city's entire street railway,
and gas and electric-light plants.
Franchises expire April 4 1926.
Decision.—The Montana Sup. Court in Feb. 1913 held that city could
not enforce an ordinance which required1 the company to light its tracks
within the city limits without expense to the city—see V. 96, p. 1422.
Fares.—In April 1920 a 7-cent fare was in effect on the company's lines.
Date.
STOCK AND BONDS—
Interest.
Maturity.
$561,000 Feb '18 1%
374,000 Nov'18 IV\
1,023,000 Sept 1 1925
Outstanding.
Common
$900,000-.Preferred $600,000 5% cum
5 Q-F
$1,500,00011905
5 g M-S
c*/Int. at Columbia Tr. Co,, N. Y., Trustee.
Bonds.—The 1st M. bonds are subj. to call at 105 and int.; $219,000 are
reserved for extens. and impts., at 85% of cost, and $56,000 in addition to
amount reported outstanding are in treasury.
A sinking fund of 1H % per
ann. of bonds out commenced June 1
1908 and was increased to 2H%
mortgage
($1.000)
per annum June 1 1918; said fund to be used in retirement of bonds at not
higher than 105 and int.
See V.81, p. 1550.
$202,000 have been retired.
Dividends.—5% per annum in quarterly installments was paid on pref.
stock to and Incl. Nov. 1918.
None since.
First div. on com., 1%, paid
Oct. 31 1906.
In 1907, 3%.
In 1909, 3%.
In 1910, 4%.
In 1911 and
1912, 5%.
In 1913, 5%.
In 1916 and 1917, 2%.
In Feb. 1918. 1%.
None since.
EARNINGS.—
Gross
Net (after
Interest,
Balance,
Earnings.
Taxes).
&c.
Sur.orDef.
1919
--$354,596
$71,847
$51,817 ,
sur.$20,030
315,144 49,072
52,150
def. 3.078
ROAD.—Operates 22.31 miles of track.
OFFICERS.—Pres., P. G. Gossler; V.-Ps., J. H. Pardee, A. Coppell,
R. B. Marchant and O. W. McConnell; Sec. & Treas., T. W. Moffat;
Asst. Sec., C. A. Dougherty (all of New York), and Asst. Treas., II.'B.
Brown.
Operated under the general management of J. G. White Mgt,
Calendar Year—
Corp^New^York City.—V. 91, p. 1095; V. 96, p. 1422; V. 106, p. 1035;
HOLYOKE, MASS.
----
♦
additions at 80% of cost;
ject to call as a whole or
RAILWAY.—Trolley.
HOLYOKE STREET
1884.
ORGANIZATION.—Incorp. in Mass. June 11
Leases the Mt.
40. In Aug. 1907 purchased the Amherst & Sunderland Street Ry. (V.85,
294), giving a through connection from Holyoke to Amherst and Sun¬
derland.
Fares.—On Feb. 17 1918
was auth. by the Mass. Public Service Comm. to
increase fare for long hauls to 10c.
In Dec. 1918 the co.'s petition for a
contraction of its zone system which would have increased its revenues by
$235,743 was rejected by the P. S. Comm. and a tariff increasing the revenue
by not more than $145,393 was authorized instead.
V. 107, p. 2476.
Effective Nov. 9 1919, was auth. by the Mass. P. S. Comm. to establish
zones, each 2 miles in length
over the entire system, and to charge a 6-cent
fare in each zone.
Compare V. 110, p. 1642.
,
Date.
STOCK—
($100)
mortgage,
$2,500,000,1
1915
Interest. Outstanding. Maturity. &c>
J-J
5 A-0
$1,342,000
See text.
850.000 April 1 1935
t-,^®-«rvWror- -- c*'Int. at Springf. Safe Dep. & Tr. Co., Trustee
Deb bds
($500. $1.000)c*_ntf
1899
_ntf
1903
85,000 Oct.
5 A-O
5 A-0
Debenture
bonds
1 1920
265,000 April 1 1923
Leased line rental Mt Tom RR
100.000
6
reserved to retire the debenture bonds,
remainder Issuable for additions and impts. under certain restrictions. Red.
at 107 and Int. on and after April 1 1920. V. 100. p. 982.
Interest on debenture bonds payable at Holyoke National Bank.
Dividends.—From 1892 to 1915, incl., 8% yearly.
In 1916. 6%.
In
Jan. 1917, 3%; July, 1H%.
In 1918. Jan. 1K%; July div. omitted
(V. 107, p. 291).
None to Jan. 1920, when 3% was paid,
.
bonds
are
(Incline) RR,
4,900 feet long, and connecting with the Woronoco Street Ry. to Westfield,
Mass.; with Springfield St. Ry. to Springfield, Mass., and with Northamp¬
ton St. Ry. to Northampton, Mass.,and direct to Chicopee.Chlcopee Falls.
South Hadley, Amherst and Sunderland.
Passenger cars, 141; other ser¬
vice cars. 27: snow-plows. 13: other vehicles, 7; electric motors, 269.
EARNINGS.—For years end. Dec. 31:
Cal. Year—
Gross.
Net.
Int.,Tax.,&c.
Divs.
Bal.,Surp.
1919—.$920,186
$208,724
$121,996
$40,260
$46,468
1918
706,281
120.528
117.755
None
2,773
OFFICERS.—Pres. & Gen. Mgr., Louis D. Pellisier; Sec. & Treas.,
S. D. Nevin; Asst. Gen. Mgr., Geo. E. Pellisier; Aud.. G. F. Dinneen,
all of Holyoke.—V. 107, p. 2376, 2476; V. 109, p. 776; V. 110, p. 1642.
ROAD.—Has
72.31
miles of track, including
Mt.
from Oct. 1908 to
1910, April, 2j^% and same
None since.
EARNINGS.—For 12 months ending Dec. 31:
Dividends.—On pref. 3% s.-a.
common,
to
COUNTY
TRACTION
CO.—Trolley road.
—Organized in 1908 and took over Houghton County
which latter company was incorporated in 1899.
Does an elec¬
business in Hougnton and Keweenaw counties, Mich., connect¬
ing the cities and towns or Houghton, Hancock, Laurium, Red Jacket,
Lake Linden and Hubbell, and the mining locations of Quincy, Osceola,
Wolverine, Allouez, Ahmeek and Mohawk.
Franchises on public streets
expirein 1929,1930,1932,1933 and 1938.
Largely on private right of way.
$100,000 common stock owned by Public Service Investment Co.
Street Ry.,
tric railway
amount s.-a.
1909.
In
1914.
Oct.
2%
and Including April
Sur.orDef.
def. §3,774
sur. 31,002
ROAD.—Miles of single track equivalent, 32.15; 39 cars.
Standard
gauge.
Power station capacity, 1,000 k.w.
Also purchases power from
Year—
1919
1918
—
Sink.Fd. Spec.Res.
Gross. Net,aft.Tax.
Int.
$297,151
$69,037
$48,032
320,067
104,579
49,448
Houghton County Electric
OFFICERS—Pres..
$24.7/9
24,129
L.
Light Co.
V.-Ps., F. J. Bawden
Harry T. Edgar. Boston;
Clark, Boston;
Houghton, and Fredk. P. Royce, Boston; Sec., Edward T.
Treas., Henry B. Sawyer, Boston; Mgr., Samuel B. Tuell; Gen. Mgrs.,
Stone & Webster Mgt. Assn., Boston.—V. 108, p. 480; V. 110, p. 77.
INDIANAPOLIS, IND.
INDIANAPOLIS & EASTERN TRACTION.
ORGANIZATION.—Incorporated In Indiana on March 23 1907
TER.RE HAUTE
(1) Indianapolis &
and
Eastern Ry.; (2) Indlanapolla
Traction, and (4) Richmond
—_'
Traction <fc Light Co. for 999
,
_
■
_
—
_
_
.
—
leased for
Indianapolis
(see terms under that company below), and In April 1907
999 years the Indianapolis & Northwestern Traction and the
&
Martinsville Rapid Transit (see terms under respective companies).
The company owns $1,000,000 par of the common stock of the Indianap¬
olis St. Ry. Co. (incorporated 1919).
Owns a one-half interest in the
United Traction Coal Co., insuring the company an adequate coal supply.
See Shirley Realty Co. of Indiana in V. 104, p. 1805.
.
On Mav 1 1912 leased for 999 years the Indianapolis Crawfordsville &
Danville Elec. Ry. (see terms under latter company below).
V. 94, n. 1567.
Franchises.—In a letter to bankers in Mav 1910, President of the com¬
years
pany said: "The great majority of the franchises under which the system Is
operated extend well beyond the life of tb&se bonds [1st & ref. mtge.J.
The
Franchises in the city of Indianapolis expire in 1933."
On May 1 1918 purchased the stock of the "West Indiana Utilities Co.,
which operates lighting plants at West Terre Haute and Brazil, Ind.
Freight Rates.—On May 23 1918 the application of this co. for increased
1919
roads.
freight rates was approved by the I.-S. C. Commission.
On May 12
freight rates were increased to practically the same as the steam
Fares.—On Sept. 5 1918 the co. was auth. by the I.-S. C. Comm. to in¬
crease fares between points on its lines in Indiana and Illinois to a basis of
2lAo. per mile.
In Oct. 1918 the Ind. P. S. Comm. auth. a straight 5c. fare
In Terre Haute. V. 107, p. 1670.
On Jan. 13 1919 the Ind. P. S. Comm.
auth. an increase in passenger fares to 2% cents per mile.
On May 28 1919
was
auth. to increase passenger fares in Illinois to 2K cents per mile.
The co.'s
P.
S.
the
petition for a fare increase in Indianapolis was denied by the Ind.
Dec. 1918. The Comm. directed the security holders of
Comm. in
co.
and the underlying
companies to consider and
voluntarily act on
proposed reductions in the fixed charges. V. 108, p. 80.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Common $12,500,000 ($100)
$9,100,000
Preferred $12,500,000 ($100)
1st & ref mortgage
$8,000,0001
1910
5
Maturity.
„
6,500,000 April 1 1945
A-O
gold ($1,000) sf
c*tf/Int. at Fidelity Trust Co., Phila., Trustee.
Indianapolis & Eastern lstf 1902
5 g J-J
See text July 1
Cons
M $1,000,000 goldjlnt. at Mercantile Trust Co., N.
or at
($1,000)sinklng fund. _c*tf I
Central Trust Co., Indianapolis. Trustee.
Ind & Green 1st M, $300,000)
1899
5 g J-J
25.000 Jan 1 1929
($1,000) gold...
c*tf i Int. at Clt. Savings & Trust Co., Tr.,
j
or at FirstNational Bank, New York City.
Y.,
19217
Cleve.,
after July 1 1910.
Should com. at any
time pay 6%, pref. will pay the same.
V. 90, p. 1555.
Bonds.—Remaining 1st & ref. bonds are reserved for additions anp Im¬
provements, under careful restrictions.
Callable as a whole from April 1
1915 at 105 and int.. or In part, for sinking fund only at 102^$ and Int.
on any Int. date.
$764,000 held in sinking fund Apr. 1 1920S. f. $55,000 p. a. first 5 years and $106,675 p- a. thereafter; bonds
acquired for s. f. to be alive and int. added to s. f. V. 90, p. 1491.
(The
payments due Feb. 1 1919 and 1920 had not been paid to April 10 1920.)
Of the $1,000,000 Ind. & East, consols auth., $300,000 are reserved to
retire the Ind. & Greenfieldlst 5s, $92.000 have been canceled by sink. fund.
Of the remaining $608,000 out, $556,000 are owned bv Terre Haute Ind. 8c
East. Trac.
A sinking fund. 1% of bonds out. began July 1 1908.
Fund is
to be invested In the company's bonds If they can be bought at not more
than 105 and int.
Bonds cannot be called.
See V. 75, p. 342. On the
Ind. & Greenfield bonds, $12,500 Is payable yearly to a sinking fund be¬
ginning Oct. 1 1904, with which bonds beginning with No. 1 are being pur¬
chased at
105 and accrued
Int.;
$275,000 were so purchased up to
Apr. 1 1920.
Dividends.—Initial div., 1K%. on pref.
4VV'.V
;
paid Oct. 1910; same amount
1914. None paid since. See V. 98. p. 914.
Report.—For calendar years (excl. Ind. Tr. & Term. Co.)
quar.
to and incl. Jan.
1918.
1917.
____S4,597,537
Gross earnings
$3,882,516
$3,455,708
3,346,868
2,704,756
2,266,836
-$1,250,668
$620,154
$1,177,760
$611,339
$1,188,873
$599,785
43,716
43.415
43.097
27,500
27,500
27,550
$559,297
$288,544
146,105
$495,505
$288,541
143,159
$518,441
$296,269
135,406
S127,648
$63,805
$86,766
Operating expenses and taxes
_
Sinking funds on leased lines.
Tom
HOUGHTON, MICH.
HOUGHTON
for sinking fund at
1919.
stock
6%
^
Bonds.—$350,000 1st M
they are sub¬
105 and int.
canceled. The
whole
in part at
canceled.
Apr. 1919 inci.
On
$110.000 owned by company:
in part at any time
Sinking fund 1H % of outstanding bonds, $103,000 have been
Houghton County Street Ry. bonds can be called as
or
105 and int. at any time.
V. 87, p. 614.
$511,000 have been
Stock.—Pref. stock Is 5% cum.
Tom (Incline) RR. until June 1 1922 at 6% per annum on the'$100,000 stock,
In 1907 purchased the Hampshire Street Ry. (previously leased). V. 85,
First
ture
($100).
(3) Indianapolis & Western
Street & Interurban Ry.
On March 25 1907 leased the Terre Haute
cessor
Stock
----
A-O
207,200 Apr 19,,3%
$1,600,000f 1908
5g J-J
n*
J
($500 and $1,000) gold. _tf (Int. at Old Colony Trust Co., Boston, Trust.
Hough Co St Ry mtge $750.-1 1900
5 g J-J
239.000 July 1 1920
000 ($1,000) assumed.c*tf/Int. at Boston Safe Dep. & Tr. Co., Trustee.
Stock and Bonds.—Pref. stock! is redeemable at 110.
$244,000 consol.
mtge. bonds reserved for prior Hens; $24,500 are In treas.; $417,000 for fu¬
Pref 6% cum $500,000
1st consol mtge
acquired by purchase
HELENA, MONT.
power, gas
p.
$750,000 ($100)...
Maturity.
See text.
Outstanding.
JJS0 000
Interest.
Date.
STOCK AND BONDS—
Common
Coal Traction;
THE HELENA LIGHT & RAILWAY
p.
V. 110, p. 77.
Commission's order.
Hazlerton RR.
ORGANIZATION.—Incorporated on Oct. 9 1903.
Stock authorized
and outstanding, $35,000 (par $50).
Bonds authorized, $600,000 (c&r);
Date 1905; due Oct. 1 1945.
Int. (5 K. A-O) payable in New York.
ROAD.—3.80 miles, between W. B. Ter. RR. June, and Wilkes-Barre,
Rails, 95-lb. T; gauge, 4 ft.
in. Pres.. C. J. Klrschner; Sec.-Treas..
gold
5 to 6 cents in Caulmet and Torch
creased fares to 6 cents in all zones
RR.
Entire stock and bonds owned by W. B. &
First
voted to permit
108, p. 480. In
zone fares from
Lake townships. The company also in¬
outside the two townships named in the
Pares.—In Jan. 1919 the Village Council of Houghton
the company to increase its fares from 5 to 6 cents.
V.
Dec. 1919 was auth. by the Mich. P. U. Comm. to increase
bonds.1
Interest.
5 g M-N
1,500,000 May 1 1951
gold
/Interest at Guaranty Trust Co., N. Y.. Trus..
Equip trust ctfs, Series A—— 1915
F-A
44,000
1925
The equipment trust certificates cover 10 new steel cars and mature
$4,000 semf-ann.
Penna. Co. for Ins. on Lives & Granting Annuities,
First
[Vol. 110.
ELECTRIC RAILWAYS
56
_
.
-
Balance..
...
a modern
high-speed
electric railway over lines
comprise a continuous route from and including the city of Paris in
Illinois through the city of Terre Haute and towns of Brazil. Greencastle
Amo, Clayton and Plainfield, to the city of Indianapolis, and thence, through
the towns of Greenfield, Knightstown. New Castle and Cambridge City, to
the city of Richmond in Indiana: also a line running south from Indianapolis
to Martinsville, Ind.; a line running west from Indianapolis to Danville,
Ind.; a line running northwest from Indianapolis to Lafayette, with a
branch to Crawfordsville; a line running northwest from Indianapolis direct
to Crawfordsville and from Terre Haute a line north to Clinton, Ind.. and a
line south to Sullivan, Ind.
Also operates the city lines in Terre Haute and
Richmond.
Total miles in single track: city lines. Terre Haute. 27.63' and
Richmond, 12.76; total, 40.39; interurban lines, total, 369.80.
Grand total,
entire system, 410.19 miles.
«-«<i
01
jt ***'•'«< -4 4i «>*» 4
ROAD.—Operates
which
"""OFFICERs7—PresTT Robt7"l.~Todd: V.-Ps7, Marshall S. Morgan and
John J. Appel; Sec. &
Treas., Jos. A. McGowan.
*
*
i
^DIRECTORS.—RobtT"l7~Todd7"Randaf*Morgan7 w7"Kelsey Schoepf?
Lilly, Leroy T. Hixon, J. J. Appel and Jos. A.
V. 104, p. 1801: V. 106, p. 930, 1231, 1901. 2650; V. 107, p.
V. 108, p. 80. 1722, 2630; V. 109, p. 1367; V. 110, p. 1416.
James
W.
McGowan.
182, 1670;
Indianapolis &
The latter company guarantees 6% on
the outstanding pref. stock and 2% on common for 1)4 years, 3% for
1 year, 4% for 1 year, and 5% thereafter, and $1,000 per year for organl*atlon expenses.
V. 84, p. 750.
^
The Terre Haute Ind. & East. Trac. owns all the common stock except
uiroctiors'
sh&r6s
ORGANIZATION.—Is
tric
EARNINGS.—For calendar years:
Year—
Gross. Net.aft.Tax.Oth.Inc. Deduc.
$426,881
$79,403
$500 $46,187
Terre Haute Traction & Light Co.
(1)
Leased.—In March 1907 was leased to the Terre Haute
Eastern Trac. Co. for 999 years.
and
Co.
198
a
ROAD.—Operates 44.87 miles of road between Indianapolis and Craw¬
fordsville.
Standard gauge.
70 and 85-lb. T rails.
An extension from
Crawfordsville to western boundary
of Indiana east of City of Danville,
Ind., is proposed.
Principal railway
OFFICERS.—Pres., John J. Appel;
Jos. A. McGowan; Gen. Mgr.,
Outstanding.
Maturity.
M-S
$2,000,000
See text .
M-S
1.000,000 Mar.'20 3%
1904
5 g M-N
3,077,000 May 1 1944
go!d__
tf/Interest at State Street Trusc Co., Boston.
Terre Haute Electric 1st mtgl 1899
5 g J-J
1,500,000 July 1 1929
$1,500,000 gold ($1,000) c*jlnt. at Boston Safe Dep. & Tr. Co., Boston
Car Trust Equip Co pref stock 1918
6 Q-J
153,000 See text
Car Trust Equip Co pref stock 1919
6 Q-J
104,500 See text.
Bonds.—The Union Trust Co. of Indianapolis and the Boston Safe Deposit
& Trust Co. are Joint trustees of the Terre Haute Electric mtge.
Of the
$5,000,000 consols, $1,500,000 are reserved to retire prior Hens.
The new
bonds are callable as a whole at 110 and int. on any int. date.
A sinking
STOCK AND BONDS—
V.-P., Robert I. Todd; Sec. & Treas.,
V. 94, p. 1449, 1565, 1695.
Robt. I. Todd.
Interest.
Date.
$2,000,000 ($100)
Pref. $1,000,000 ($100 6% cu.)
First cons mtge $5,000,0001
fund of 1% of outstanding bonds commenced May 1 1906.
$421,000 was
held by this fund April 1 1920.
The United States Trust Co. of Terre Haute
and the State Street Trust Co. of Boston are trustees of this mortgage.
See V.
78,
n.
2013.
1918 is a first charge against
V. 107, p. 182.
The stock
of 1919 is a first charge against 25 cars and matures $5,500 semi-smn.
to
Oct. 1 1929.
V. 109, p. 1367.
The Car Trust Equipment Co. pref. stock of
30 cars.
The stock matures $8,500 semi-ann.
19
12,172 sur, 16,054
46,828
#
Common
198
500
74,554
313,918
1918--
franchises expire 1952; principal lighting franchise perpetual; other fran¬
chises average 30 years from Jan. 1 1906. Leases Terre Haute & West.Ry
EARNINGS.—For
Year—
Gross.
calendar
$1,816,429
1919
Net.
Oth.Inc. Deduc'ns. Sink.Fd.
$528,252
$1,000
$277,602
$30,903
271.650
1,000
519,415
1,571,977
31,243
Balance
$220,747
217,522
in Terre Haute, Including line
Brazil, Sullivan and Sanford, Ind.
Rails, 60 to 80 lbs.
Owns 112 city passenger and 14 interurban passenger cars, 6 freight and 18 service cars.
ROAD.—Embraces 87.20 miles of track
OFFICERS.—Pres., Demas Deming; V.-P., Robt.
107,
Joseph A. McGowan.—V. 98, p. 525; V.
Terre
p.
I. Todd; Sec. & Treas.,
182; V. 109, p. 1367.
Railway Co.—An electric road.
Haute & Western
999 years from Nov.1907
1907 In Illinois.
Road extends
Ind., to Paris, 111., 10.63 miles.
Leased to Terre Haute Traction & Light Co. for
ORGANIZATION.—Incorporated in
from the Indiana State line near Sanford,
Began operation Oct. 25 1907.
Is entirely on private right-of-way.
com. and pref. stock owned by Terre Haute ind. & Eastern Trac.
STOCK AND BONDS—
Interest.
Date.
$200,000
Stock common
Outstanding.
$200,000
Entire
Co.
Maturity.
150,000
First mortgage $250,000 gold 1
1907
5 g M-N
250,000 Nov 1 1937
guar p & I ($1,000)
c*tf/int. at New England Tr. Co., Boston, Trus
Bonds.—Are guar. p. & I. by endorsement by Terre Haute Tr. & Lt. Co.
Preferred $150,000..-_
_
EARNINGS.—For calendar years;
,
Net.aft.Tax. Oth.Inc. Deductions. BaL.Sur.
$64,908
$18,726
$500
$12,500
$6,726
50.380
14,549
500
12,500
2,549
OFFICERS.—Pres., E. M. Walker; V.-P., F. T. O'Hair; Sec. & Treas.,
John T. Beasley.—V. 90, p. 1555.
Dec. 31
(2)
Gross.
Years—
Indianapolis & Northwestern Traction Co.—An
electric road.
Lease.—In April 1907 was leased to the Terre Haute Indianapolis &
Eastern Traction for 999 years.
The latter company will pay the interest
on the bonds;
also 1)4% quar. or 5% per annum on the $450,000 pref.
stock and $500 per year for organization.
V. 84, p. 869.
Entire issue of common stock, except directors' shares, is owned by the
Terre Haute Indianapolis &
Eastern Traction.
ORGANIZATION.—Organized in 1902 in Indiana.
Operates a modem
high-speed Interurban rai|lroad, standard-gauge, located upon private right
of way outside of the city corporate limits.
Extends northwesterly from
the city of Indianapolis through the cities of Lebanon and Frankfort to the
city of Lafayette, with a branch from Lebanon to Crawfordsville, each of
which cities Is the county seat of its respective county.
Has trackage
rights to the business centres of Indianapolis and Lafayette.
The franchises run for 31 to 50 years from 1907 and permit the carrying
of freight, express and mail, as well as passengers.
Outstanding.
Interest.
Date.
STOCK AND BONDS—
Maturity
$2,550,000
Q-J
450,000
See text
1903
5 g M-S
2,470,000 Mar 1 1923
($1,000)
c*tf[Int. at Columbia Tr. Co., N. Y.. Trus.
Bonds.—The remaining $530,000 for improvements, &c.. at 50% and 75%
of cost.
No s. f., but bonds can be called on any int. date at 110 and Int.
Common
$2,550,000
-
Pref ($1,090,000) 5% cum
First mtge $3,000,000 goldf
31:
EARNINGS.—For years ending Dec.
Gross.
Cal.Years—
$639,563
516,947
1918
Net.aft.Tax. Oth.Inc.
$139,659
$500
Deductions.
$123,500
500
123,500
98,681
-
ROAD.—Embraces 84.15
Balance.
sur.$16,659
def.24,319
miles of track between Indianapolis, ZionsLafayette, including a branch from Lebanon
gauge; 70-lb. T rail.
Owns 20 passenger,
Power house and car barn are at Lebanon.
ville, Lebanon, Frankfort and
to Crawfordsville.
Standard
5 freight and 5
service cars.
59.
Todd; V.-Ps., Chas. Murdock and Harry
Sec. & Treas., Jos. A. McGowan.
OFFICERS.—Pres., Robt. I.
Indianapolis & Martinsville Rapid Transit Co.—An electric road
1907 was leased to the Terre Haute Indianapolis &
The latter co. will pay the int. on the bonds; also
$500 per year for organization.
V. 84, p. 749.
The Terre Haute Ind. &
Eastern owns entire issue of stock except directors' shares.
ORGANIZATION.—Incorporated in Indiana on April 24 1901.
Oper¬
ates on private right of way except in incorporated towns.
(3)
Leased.— In April
East. Trac. for 999 years.
Date.
($100)
First mtge, $750,000 ($1,000)1
1902
gold
e*&r ntf[Union
Outstanding.
$750,000
Interest.
STOCK AND BO.NDS—
Stock $750,000
-
Maturity.
5 g J-J
750.000 Jan 1 1932
Trust Co. and Security Tr. Co. of In¬
dianapolis, Trus.
Int. at Sec. Tr. Co., Ind.
bonds are subject to call after 10 years at
Bonds.—No sinking fund, but
Balance.
Deductions.
sur. $32,306
$69,306
$500
$37,500
sur.
14,365
51,365
500
37,500
ROAD.—Embraces 27.53 miles of track from Indianapolis to Martlnsville. completed in May 1903.
70-lb. rails; standard gauge.
OFFICERS.—Pres., Robt. I. Todd; V.-Ps., Harry S. New. Chas. Mur¬
dock and John J. Appel; Sec. & Treas., Jos. A. McGowan.
V. 84, p. 749.
Dec. 31
Year.
Gross.
Net.aft.Tax. Oth.Inc.
....$236,559
192,116
1919.
1918
--
(4) Indianapolis
Lease.—On May 1
Crawfordsville & Danville Electric Ry.
1912 was leased to the Terre Haute Indianapolis &
for 999 years.
Under the lease the latter company guaran¬
& i. of 1st M. bonds, 5% divs. on $200,000 pref. stock and semi¬
Eastern Trac.
tees p.
viz.; 4$% from Nov. 30 1912 to May 31 1914, 1%
1914 to May 1916,1)4% Nov. 1916 to May 1918 and 2% thereafter.
annual divs. on com.,
Nov.
ORGANIZATION.—Incorp. in Indiana on April 20 1912 as successor to
IndianapolirCrawforsdville & West. Trac., sold at foreclosure.
Built
entirely on private right-of-way.
In cities and towns has 50-year franchises
which permit the carrying'of freight, express and mail matter.
the
STOCK AND BONDS—
Common
$400,000 ($100)
Date.
Interest.
Outstanding.
M-N
'*
$400,000
Maturity.
See text
,1
200,000
See text
1912
5 g M-N
1,000,000 May 1 1952
p«fci__c&r tf [Interest at Girard Trust Co., Phila.. Trustee.
Pref $400,000 5% cum ($100)
First mtge $2,500,000 gold)
J-D
($1,000) guar
Bonds.—Of remaining first mtge. bonds, $1,000,000 are for extensions
and $500,000 to be issued only under certain conditions.
Subj. to call as
a whole but not in part at 102M and int. on any int. day.
Sinking fund of
$9,000 per annum on initial $1,000,000 bonds out commenced March 1 1913
When add'l bonds are issued fund shall be increased by such amount as will
retire 2-3 of such add'l bonds issued.
$94,000 held alive in sinking fund
April 1 1920.
ORGANIZATION.—Incorp. in Indiana on June 30 1919.
Is consolida¬
tion of the old Indianapolis Street Ry. Co. and the Indianapolis Traction &
Terminal Co.
(For separate history of each of these cos. up to time of
consolidation see the "Electric Railway Supplement" of March 29 1919.)
The consolidation was effected as per plan in V. 108, p. 2329 subject to
conditions stipulated by the Ind. P. S. Comm. as outlined in V. 109,
p. 172.
On Aug. 29 1919 the Federal Court approved this
and dismissed the suit brought by certain minority stockholders against
same.
V. 109, p. 982.
.
Interurban railways enter the city under agreements by which they pay
consolidation
the city limits and an
V. 81, p. 264.
3 cents per passenger for all passengers carried in
additional 1 cent for those using the terminal station.
Guarantees the
($400,000) bonds of Broad
Ripple TracJtion Co., and owns
75% of its stock.
Payments.—Int. amounting to $125,000 due April 1 1919 on the
& Term. 1st 5s was paid Sept. 22 1919.
The $120,000 int.
Ind. Street Ry. gen. mtge. 4s was paid July 1 1919.
The int. on this issue due July 11919 was paid Nov. 20 1920.
Int. payments
are now being made when due.
Interest
Trac.
Ind.
1 1919 on the
Fares—Decision.—On Nov. 15 1917 the Ind. Tr. & Term. Co. applied
for auth. to establish a uniform 5-cent fare by abolishing
$1 or 6 for 25 cents.
On Dec. 13 1917 the Comm.
handed down the decision that it had no jurisdiction in the matter.
On
Jan. 2 1918 the Marion County Circuit Court sustained the demurrer of
the Comm.
On July 30 1918 the State Supreme Court reversed the decision
of the Circuit Court, ruling that the P. S. Comm. had power to act, and
directed the Commission to take up the co.'s petition.
V. 107, p. 696.
Compare V. 106, p. 189, 2649.
On Dec. 28 1918 the Ind. P. S. Comm.
auth. the co. to charge a straight 5-cent fare until 100 days after peace is
signed.
Suit was brought against the Ind. Tr. & Term. Co., the Indian¬
apolis Street Ry. and the Ind. P. S. Comm. to enjoin the co.'s from
ing the straight 5-cent fare because of the franchise agreement
for tickets at 6 for 25 cents.
V. 108, p. 973.
In Aug. 1919 the co. applied
to the P. S. Comm. for auth. to charge 1 cent for transfers.
V. 109, p. 676.
In April 1920 this was still pending.
Outstanding. Mat'y, &c.
Date.
Interest.
STOCK AND BONDS—
$1,000,000
Common ($50)
5,000,000 Mar'20 114%
6 Q-M
Pref $5,000,000 ($100) cum.
to the P. S. Comm.
the rate of 25 tickets for
collect¬
providing
—
See text
Consolidated mtge
Ind Tr & Ter Co 1st M
3,833,000 Jan
1 1933
5 g A-O
$5,-1 1903
f.c*tf J Int. at Guaranty Tr. & S. D. Co., Phila., Tr
Indianapolis Street Ry gen] 1899
4 g J-J
4,987,000 Jan 1 1933
mortgage $6,000,000 gold Interest at Guar. Trust & Safe Deposit Co.,
($1,000) guar
c*ntf
Philadelphia, Trustee.
Citizens'
Street
Ry 1st Ml 1893
5 g M-N
4,000,000 May 1 1933
000,000 g ($1,000) s
$4,000,000 g ($1.000)_c*tf[Central Trust Co., New York, Trustee.
Equip certificates Series "B"\ 1911
5 J-J
$100,000-----[Fidelity Trust Co., Philadelphia, Apr tpvt
See text
miQ
k A/T_<a
30 OHO
30,000
5 M-S
1913
Equip certificates Series "C"
See text
40,000
6 J-D
1913
Equip certificates Series "D"
$100,000-I
See text
88,000
Equip certificates Series "E"i 1916
5 J-D on L. & G. Ann. Phil..trust.
$125,000 ($1,000)
— -/Pa. Co. for Ins.
See text.
200,000
Ind Car Equip Co 1st pref stlc_ 1919
6 Q-J
Interest on Citizens' consols at Fourth Street Nat. Bank,
10,000
4-—
See text
Trustee.
_
Philadelphia.
that
Stock.—Preferred stock is pref. as to assets and divs.
It is stated
will bo allowed no voting power unless the pref. divs.
the common stock
paid in full.
are
Bonds.—The cons. mtge.
000 up to
bonds are limited to an
April 7 1933, after
auth. issue of $15,000,-
which, the auth. amount may
be increased to
incl. the divisional bonds, if any, then outstanding, and
such excess of $10,000,000 bonds may bear such rate of interest, not ex¬
ceeding 6% P. a., and bo used for any proper corporate objects and pur¬
$25 000,000,
poses
of the consolidated co.
exceeding 6% and
int. at not
The $15,000,000 now
authorized will bear
shall be issued only for
addns. and better¬
acquisitions and replacements of lines of street railroad
which become a part of the street railroad system of the consolidated com¬
pany in Indianapolis and its vicinity.
Bonds shall only be issued to the
amount of par value of bonds of the three divisional issues which have been
or shall be taken up and canceled by sinking fund payments, so that at no
time while any of divisional bonds are outstanding (unless their present
dates of maturity shall be extended), shall the aggregate amount or [new
and old] bonds secured by mortgages on the property exceed $lo,00.0,000.
But notwithstanding the foregoing, provision may be made in the mortgage
for the issuance of bonds to refund the existing mortgage indebtedness, or
any part thereof [at maturity].
All bonds issued for refunding shall be
ments to and exts.,
subject to be taken up
and canceled by the sinking
fund provisions which
bonds in their original form, and when so
bonds may be issued in substitution there¬
for which, or the proceeds thereof, shall be used only for permanent impts.
and betterments.
Provision may be made in said mortgage that the ma¬
turity of any outstanding bonds which become due on or before April 7
1933!may be extended to such date as may be determined by the Board at
not exceeding 6% interest if permitted by law.
applicable to the refunded
and canceled, original
taken up
The lien of
and
underlying mortgages is confined to the property
which each was a lien prior to consolidation and does
other property of the consolidated company, except as
the several
interests upon
not extend to any
"general debts," without
priority, after satisfying of
^TheTnd.
the mortgage liens
provides for
Trac. & Term, bonds have a sinking fund which
the payment annually of 1 1-5% of bonds outstanding.
See
Bonds may be drawn for sinking fund at 1021^ and int. and are
call at that price. See V. 81, p. 264.
$1,167,000 in sinking fund
The Ind. St. Ry. bonds have a sinking fund sufficient to redeem at
V. 76, p. 1085.
subj. to
canceled.
maturity
fund canceled.
greater part of the entire issue.
$1,013,000 in sinking
The
divisional bonds in the sinking funds at the time of consolida¬
tion were canceled so that they could no longer draw interest and payments
to the sinking funds suspended until 1923.
All future sinking
pay¬
ments are to be applied to the cancellation of bonds.
Equipment certifi¬
cates Series "B" mature $5,000 on Jan. 1 and July 1 in each year
paid in full.
$90,000 have been retired.
They cover purchase
new
cars.
Series "C" mature $5,000 on March 1 and Sept. 1 each year
paid in full.
They cover 25 new cars.
$70,000 have been
"D" mature $5,000 on June 1 and Dec. 1 each year until paid.
Covers
the
105 and interest.
See V. 78, p. 1223.
EARNINGS.—For calendar years:
the $1,000,-
Indianapolis & Eastern Traction Co. owns
000 com. stock.
were
V. 88, p. 295; V. 92, p.
S. New;
INDIANAPOLIS STREET RAILWAY CO.
The Terre Haute
due Jan.
years;
from Terre Haute to West Terre Haute, Clinton,
(a)
Sink.Fd.
Balance.
$12,813 sur.$20,903
1919.
consolidation In 1904 of the Terre Haute Elec¬
tjhe Terre Haute Electric Traction Co.
57
RAILWAYS
ELECTRIC
APE., 1920]
fund
oi 2o
retired.
25 new cars.
until
Series
$60,000 have been retired.
Series "E" mature $6,000 or
each year. They cover 25 cars. $37,000 have
$7,000 on June 1 and Dec. 1
been retired.
The Ind. Car
Equip. Co. 1st pref.
stock was used to purchase
Bonds
The stock matures $10,000 semi-ann.
V. 109, p. D00.
on Philadelphia Stock Exchange.
V. 69, p. 851.
Dividends.—Dividends of 6% (1 Yt %quar.) are being paid on the
25 cars.
are
listed
StOCk.
until
;
pref.
:
net,
$8o6,4bi;
EARNINGS.—For year ending Dec. 31 1919, gross, $4,738,941;
after taxes, $1,078,937; rents, sinking fund and other deductions,
balance, surplus, $222,476.
office and
ROAD.-—Operates 141.64 miles of track and owns 9-story
builaing, train-sheds and 3 freight depots centrally located in
Indianapolis; also real estate on which same are constructed.
This
minal is used by all interurban roads (13 in number) entering Indianapolis
A new freight terminal is to be erected.
Owns electrical and steam equip¬
ment of 7,000 k.w. capacity.
Owns 542 double trucks, 182 single truck
terminal
ter¬
and 120 service cars.
OFFICERS.—Chairman of the Board, Henry Jameson: Pres. & Gen.
Todd; V.-P., Henry C. Thomson: Sec. & Treas., Joseph A.
McGowan; Asst. Sec. & Treas., Wm. F. Milholland.—V. 108.
p. 2330,
2620; V. 109, p. 172. 676, 982, 1700, 1986; V. 110, p. 77, 1415.
passenger
Mgr., Robt. I.
[VOL. 110
ELECTRIC RAILWAYS
trolley road.
BROAD RIPPLE TRACTION.—A
STOCK AND BONDS—
Outstanding.
Interest.
Date.
Stock $ 100.000 (par $ 100)
Mtg $400,000 g ($1,000) c*ntf-
J 1899
$100,000
5 g J-J
Maturity,
--
.
400,000 July 1 1933
o
\Int. at Guar. Tr. & S.D.Co.(Phila.), Trust.
Bonds.—Are guar. p. & I. by Ind. St. Ry.
No s. f. and bonds cannot
be called.
The Ind. Nor. Trac. Co. (subsequently consolidated with the
Union Tr. Co. of Ind.) guarantees p. & i. of half ($200,000) of the bonds.
Indianapolis to Broad Ripple Park.
OFFICERS.—Pres., Robert I Todd; Sec. & Treas., Jos. A. McGowan.
—V. 69. p. 180; V. 73, p. 137, 183; V. 78. p. 1167.
ROAD.—7H miles of track from
CINCINNATI TRACTION
INDIANAPOLIS &
Dividends.—7% per annum In being paid on preferred (Increased
6% per annum).
8% is oeing paid on common stock.
& S.
In
1911,
\%%\
fiscal
the Middle
1906 as
to the
The company acquired, effective Jan. 1 1917, the
Constantine Hydraulic Co., Three Rivers Light & Power Co., Three Rivera
Gas Co.. Milling & Power Co., and the Marquette County Gas & Elec. Co.
(excluding the street railway, which see below).
Feb.
14
1917.
STOCK AND BONDS—
Interest.
Date.
Outstanding.
Maturity.
($100)
$500,000 —
$400,000 ($100)
6%
400,000 ---------First & ref $3,000,000 ($100,1 1917
5 g J-J
619,600 Jan 1 1932
$500, $1,000) gold--.c*.tf/Central Trust Co. of Illinois, Chicago, trustee.
1910
6 g J-J
395,000
Jan 1 1930
M Co G & El 1st M $1,000,000 ($1,000) gold-_-_c*.tf First Trust & Sav. Bank, Chicago, trustee.
1906
5 g F-A
72,000
See text.
Hough Co Gas & Coke Co
$350,000 ($1,000) g-c*.tf Central Trust Co. of Illinois, Chic., trustee.
1905
5 g A-O
228,000
Apr 1 1925
Constantine
Hydraulic
Co
$250,000 ($1,000) gold.c.tf Central Trust Co. of Illinois, Chic., trustee.
1907
5 g A-O
59,000
Oct 1 1936
Three Rivers Gas Co $75,000
($500)
c*.tf Detroit Trust Co., Detroit, Mich., trustee.
Common $500,000
Pref
cum
their lien on the
(with exception of directors'
5s are secured, in addition to
Bonds.—The 1st & ref.
property,
by pledge of entire capital stock
Elec. Ry. Co.
Sufficient are reserved to
retire prior liens and the balance for corporate purposes. Are callable at
102;H» & int. on or before Jan. 1 1927 and at 101 & int. from Jan. 1 1927 to
Jan. 1 1931 on three weeks' notice.
Of the $395,000 Marquette County
Gas & Elec. Co. 1st 6s reported outstanding, $139,000 have been assumed
by the Marquette County Klec. Ry. Co. (see beiow), which has acquired
and owns a part of the property upon which the mortgage Is a lien.
Sinking
fund of 1% from 1913 to 1915 and 2% thereafter.
Are callable at 105 on
any int. date.
The Houghton County Gas & Coke Co. 1st 6s are due seri¬
ally on Feb. 1 as follows: 1921-24, $5,000 per ann.; 1925-29, $6,000 per ann.;
in 1930, $10,000, and in 1931 the remainder.
The 1st M. 5s of the Con¬
stantine Hydraulic Co. are subject to call at 105.
The 1st M. os of the
Three Rivers Gas Co. are callable at 105 on any int. date.
shares) of the Marquette County
OFFICERS.—Pres., L. E. Myers; V.-P., G. W.
McKee;
Treas., O. E. McCormick, Chicago, 111.
72 West Adams St., Chicago, 111.
General office,
Hamilton; Sec., R. E.
Chief operating office,
Ishpeming, Mich.
(a) The Marquette County Electric Ry. Co.—Organized with $25,000
capital stock (all of which, with the exception of directors' shares, is owned
by the Michigan Gas & Elec. Co.)
Property leased to the Michigan Gas &
Elec. Co. under general contract which provides for payment of bond in¬
terest, operating expenses and upkeep.
The company has assumed $139,
000 of the 1st M. bonds of the Marquette County Gas & El. Co.
Of the Ind. Shelby.
A
1908, for
ITHACA,
$86,000
ITHACA
1%.
In Jan.
ending Dec. 31 1918,
gross, $532,143;
interest, taxes and dividends on
this amount was paid in scrip—(see
above under "Payments in scrip"); deficit for year, $36,/64.
EARNINGS—For
CO.—Controlled by
Int. date at 110.
1912,
In
ELECTRIC
ORGANIZATION.—Incorporated in Maine on Nov.
19
Houghton
County
Gas &
Coke Co.
Name changed
above
classes. A, B and C.
sinking fund on these bonds of $10,000 per annum began Jan. I
which bonds can be called at 105, beginning with lowest number.
have been retired.
' " :
paid
&
GAS
Utilities Co.
the
As to priority of different series, see V. 92. p. 956.
ind. & S. E. bonds, $114,000 is reserved for prior liens
pref.
108, p. 2122.
ISHPEMING, MICH.
MICHIGAN
105 and Int.
Dividends.—On
452, 764; V. 107. p. 2476; V.
West
Class B, $200,000, none issued; and Class O,
$3,350,000 (of which $100,000 outst'g), reserved for extens., irnprovem'ts,
&c.
Entire series of bonds of each class is subject to call on or after July 1
are subject to call on any Int. date at 105 and Int.
E. bonds, the entire issue may be called on any
hydro-electric
m
Class A, $1,300,000, all out;
1913 at
Ironwood,
of 4,000 h. p.
railway serving Bessemer,
plants of 5,150 h. p. at Superior, Mellen and Saxon Falls; 3 steam plants at
Ironwood, Wakefield and Bessemer; 140 miles transmission lines.
In Sept.
1917 construction work on a $100,000 1,200-h. p. plant was begun by
Ash. L., P. & St. Ry. Co.
„
OFFICERS.—Pres., L. E. Myers; V.-P., L. N. Boisen; Sec. & Treas.,
Wm. H. P. Weston.
Office, 53 W. Jackson Bldv., Chicago, 111.—V. 104,
dividend date.
Of the $1,000,000
$134,298.
rental,
ROAD.—Owns 15 miles of street
Hurley, Montreal and Hamilton; water-power site capable
development, located at Brownstone Falls, 3 developed
Outstanding.
Maturity
$2,000,000
J-J
1,000,000 In 1912. 1%
First mtge $4,850,000
($1,-1 1910
5 J-J
1.400.000 July 1 1940
000) gold (see text)
c*JInterest at Central Trust Co., N. Y., Trus.
I& S E pf stk $600,000 ($100)
A-O
600.000 In 1917. 5%
Ind & S E 1st M $1,000,0001
1905
5 g J-J
586.000 July 1 1935
gold ($1,000)
jlnt. at Farmers' Loan & Tr. Oo.,N.Y.,Trus.
Ind Shelbyv & Southeast 1st}
1902
5 g J-J
414.000 Jan 1 1932
M $500,000 g ($1,000) s f__/Int. at C. & C. Tr. & Sav.Bk., Chicago, trus.
Certificates of indebtedness..
6%
75,000
See text
Stock.— Ind. & Cin. Trac. pref. Is entitled to non-cum. divs. of 2% until
July 1 1911, then increasing 1% yearly to July 1 19.13; thereafter 5% per
annum.
Ind. & S. E. pref. Is redeemable at 105 and accrued div. on any
They
and
taxes
Common $2,000,000....
Pref $1,000,000 (see text)....
See V. 81, p. 1375.
Bonds.— Ind. & Cin. Trac. 1st M. is divided Into three
_
Bond Int.
Surplus.
$183,267
$79,798
$103,469
136,430
78,162
58,268
Latest Earnings.—For year ending Mar. 31 1919, gross, $493,888; net,
after taxes and rental, $220,471.
In 1918, gross, $406,221; net, after
1916-17
Interest,
Date.
.
$277,878
175,534
$461,145
311,964
1917-18
p.
CO.
30:
Net.
EARNINGS.—For years ending June
Year—
Oross.
Ezd. & Taxes.
ORGANIZATION.—Incorporated in Indiana on Nov. 17 1910 as suc¬
cessor to the old Indianapolis & Cincinnati Trac. Co., sold at foreclosure
Nov. 10 1910.
V. 91, p. 1385. 1025.
In 1911 acquired the Indianapolis & Southeastern Trac. Co. (all of whose
com. and $30,000 1st M. bonds the old Indianapolis & Cincinnati Trac. Co.
had owned and to which company the Ind. & Southeastern was leased) and
canceled its com. stock.
V. 92, p. 881, 956.
Private right of way except In
cities and towns.
County franchises perpetual.
Franchises in cities and
towns are for 50 years (the oldest being dated 1904), except In Indianapolis,
which is for 34 years from 1900.
Has contract with Indianapolis Traction
& Terminal Co. for 31 years allowing its cars to enter Indianapolis.
In Nov. 1912 the I. & C. Light & Power Co. was incorporated with
nominal ($900) capital stock in the Interest of the Traction Co. to furnish
light and power to the communities along the company's route.
In Feb. 1913 the I. & O. Electric RR. was incorp. with $10,000 capital
stock, to extend the Traction Co.'s lines from Rushville to Cincinnati by way
of Brookville, Ind., and Harrison, O.
It may later be merged with the
Cincinnati Harrison & Indianapolis Traction Co.
In April 1913 acquired control of the Cincinnati & Westwood RR., a
narrow-gauge road extending from Westwood, on the boundary line of
Cincinnati, to Brighton, within the city. 5 1-3 miles.
V. 96, p. 1297.
On Jan. 19 1918 was auth. by the Indiana P. U. Comm. to increase
passenger fares from 2 to 2M cents per mile, and, effective Jan. 10 1919,
to increase rates to 2% cents per mile.
Payments in Scrip.—On Oct. 1 1918 $15,000 of divs. on Ind. & Southeast¬
ern pref. stock being unpaid, the co. issued in lieu
thereof a like amount
6% ctfs. of indebtedness, due two years after the close of the war.
On
Jan. 1 1919 $60,000 additional 6% ctfs. of indebtedness were issued to pay
the $60,000 of bond interest due on that date.
These ctfs. matureAon
Jan. 1 1921.
V. 108, p. 784.
STOCK AND BONDS—
in 1916
from
ORGANIZATION.—Organized as successor to the Indianapolis & Broad
Ripple Transit Co., sold at foreclosure July 1899.
The Indianapolis
Street Ry. owns about 75% of stock, but organization is separate.
Road
Is Jointly operated by the Union Traction Co. of Indiana and the Indianap¬
olis Street Railway.
in
interest
year
net, $142,626; other income, $3,730:
I. & S. E. pref., $160,397 ($75,000 of
Y.
1918 Ford, Bacon & Davis, N. Y. City, acquired a substantial
the Central N. Y. Southern
RR. Corp., which controls the
Corporation.
Traction
Ithaca
N.
TRACTION CORPORATION.
•
ORGANIZATION.—Incorp. In N. Y. Mar. 30 1914 as successor
of the
Ithaca Street Ry. sold at foreclosure under bondholders' reorganization plan.
The new co. is controlled by the Central N. Y. Southern RR. Corp., an al¬
IROAD.—Operates 58 miles of track from Indianapolis via Rushville of
and 49 miles of track from Indianapolis via Shelbyville to
Connersville
lied steam road, by ownership of all the ($400,000) outstanding stock and all
($488,000) outstanding 1st k ref. bonds.
The Central N. Y. Southern RR.
Corp, Is a reorganization of the New York Auburn & Lansing RR. and Is
capitalized as follows: Common stock, auth., $1,275,000; outstanding
$375,000. Pref. stock, auth. and outstanding, $725,000;and 1st and coll.
trust 5s due 1964.
Auth. $4,000,000; out., $1,000,000.
(V. 99, p. 538.)
Total, 105 miles of track.
An extension from Rushville
O., to Cincinnati is proposed.
60 and 70-lb. T rails.
20 pas■enger cars and 4 express cars,
OFFICERS.—Pres., Chas. L. Henry, Indianapolis;
\7.-P., T. F. Rose
Muncie; Sec., John J. Appei, Indianapolis; Treas.. John F. Wild. Indian¬
apolis.
Office, Indianapolis—V. 106, p. 395; V. 108, p. 171, 784.
Greensburg.
via Harrison,
1917 thp N. Y. P. 8. Comm. auth. ttm co. to
On Nov. 14 1918 the P. S. Comm. granted
fare with the understanding that the order may be
reopened when it appears that the reasons for allowing the increase no
longer exist.
The co. had applied for a 10-cent fare.
V. 107, p. 2008.
Inrreas—In
Fare
Dec.
increase its fares to 6 cents.
IRONWOOD,
IRONWOOD &
BESSEMER
MICH.
auth. to charge a 7-cent
RAILWAY & LIGHT CO.
Chicago, III., purchased control.
In Jan. 1917 the L. E. Myers Co. of
Maturity.
Date.
Interest.
Outstanding.
STOCK AND BONDS—
*$400,000
Capital stock. $1,000,000
5 A-O
*488.000 Apr 11964
lst&ref M $2,000,000, g. redf 1914
Columbia Trust Co., N. Y., truRtee.
any int date at par&Intc*tf (
6 J-J
175.000 July 11922
1892
Ithaca Street Railway 1st Ml
Int. at Farmers Loan & Tr Co., N. Y.
$175,000
...tfl
6 J-J
75,000 July 1 1922
2nd M $75.000
tf-- 1894
ORGANIZATION.—Incorporated in Wisconsin in 1910 as the Gogebic
& Iron Counties Ry. & Light Co., the present name being assumed in Feb.
1911.
Owns 60% of stock of Ashland Lt., Pow. & St. Ry. Co.
Controls
elec. Il^ht, power & street railway business in Ashland, Ironwood, Bessemer,
Wakefield, Hurley and Gile; the gas business in Ashland, and the water
supply In Ironwood, Hurley and Gile.
Also owns some of the most valuable
natural water powers In Wisconsin.
Franchises in Ironwood and Bessemer
expire in 1941.
In Wisconsin operates under Indeterminate franchise.
0 J-D
25.000 June 1 1922
Oayuga Lake E! Ry 1st M_tf 1894
*
All owned by the Central N. Y. Southern RR. Corp.
In Jan. 1913 Increased Its auth. pref stock from $200,000 to $400,000
In Dec. 1918 the co. brought out $247,000 1st mtge. 5s, proceeds to be
used to reimburse the
Bonds.—Of the 1st & ref. mtge. 5s.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Common $500,000 ($100).
Pref $400,000 ($100) 7 % cum
$500,000
397.000
ments,
EARNINGS.—For years ending
1918
1917
1916
ROAD.—Owns and operates
See text
See text
. V_ Q-M
Feb 1 1936
mtge
$2,500,000 gold} 1911
5 F- A
1,573.000
fund ($l,000)..c*_tf Tint, at American TrustCo
Boston Trustee
Collateral notes (see text
gl 1919
7 g A-0
294,000 April 1 1922
P &
tax
St Ry 1st mtge
gold
($1,000)
refund., e&r.tf
1909
5 g J-.l
Inc. at Chicago Sav.
$1,000)
c*&r*tf
Chicago,
j
s ^or eack $100 of notes outstanding.
ratio.
days' notice.
Red., all
V. 109,
or
p.
JACKSON
Sale.—On
Trustee.
on any
issued from time to time
JACKSON,
MISS.
.
int. date at 104 and int. for sinking fund.
Sinking fund pro¬
viding for retirement of 1% of outstanding bonds at not exceeding 104 and
int. began with year ending Feb. 1 1916.
$392,000 are pledged as security
for the $294,000 7% notes.
Ashland Lt., Power & Street Ry. bonds are
subject to call on any int. date at 104.
Sinking fund of 1 % of bonds out
began in 1912.
See V. 104, p. 450.
$129,000 are pledged under the co.'s
3-year coll. notes Ser. A.
Notes.—Authorized issue is limited by the restrictions of the trust deed.
Are secured by pledge of 1st M. 5s in the ratio of 133 1-3% ($392,000).
Red., all or in part, on any int. date at 100 and int. on 30 days' notice.
V. 108,
p. 2122.
The Ash. Lt., P. & St. Ry. coll. notes Series "A." are
secured by $129,000 1st M. 5s of that co., being in the ratio of 133 1-3$
?
Ithaca, N. Y.; 1st V.-P., & Gen.
Hotchkiss, 34 Nassau St., N. Y.; 2d V.-P. & Gen. Mgr.,
Sec. & Treas., S. C. Stivers. N. Y.—V. 107, p.2008.
J. C. Nelson, Syracuse;
7 g F-A 1
96,700 Aug 1 1922
& Comm. Trust & Savings Bank,
Bonds.— Remaining Ironwood. & Bessemer 1st M. bonds may be Issued
for 75% of cost of new property under certain restrictions.
Red. all or in
wmei
Owns 29 motor cars
OFFICERS.—Pres., R. B. Williams,
Coun., Chas. E.
720 .000
Tan 1 1939
Bk. <fc Tr. Co., Trustee
Oo-Trustoo
'Leverett Thomoson of Chic
Ash Lt, P & St Ry coll notes
1919
Series "A" ($100, $500 and •Cont.
part
2,029
Balance.
Surplus.
def.$52,797
def.31,623
sur.
2,653
$500 & $l,000)c*tf J
($100,
$1,000,000
Penn
11.47 miles of track,
Other
Deduc.
$4,152
2,153
Rails, 80-lb. "T."
and 3 other cars.
sink
Lt
Revenue.
Year—
Maturity.
Dec. 31:
Net (after
Other
Bond
Taxes).
Income. Interest.
$224,664 df.$8,847
$1,102
$40,900
196,036
10,306
1,125
40,000
196,577
42,358
1,144
38,819
Oper'g
Dec. 31
First
Asia
$488,000 are Issued and are all owned
N. Y. So. Remaining bonds are reserved for future require¬
Including the retirement of the three underlying prior lien as above.
by the Cent.
for expenditures
made in the construction of the
Superior Falls water power plant. V. 107, p. 2476.
In May 1919 issued
$294,000 3-year 7% notes, proceeds being used to reimburse the co. for
expenditures made in the construction of the Superior Falls water power
plant. V. 108, p. 2122.
In Sept. 1919 the Ash. Lt., P. & St. Ry. put out
an issue of $96,700 3-year 7% coll. notes Ser. "A,"
proceeds being used to
reimburse the co. for expenditures made for add'ns and betterments.
V. 109, p. 1079.
co.
Additional notes may be
providing same are secured by 1st M. 5s in the
in part, at 100 and int. on any int. date upon 30
1079.
LIGHT & TRACTION
June
24
\
are
the American
of $5,000, subject to all liens, &c.
have granted the new owners
1919 the co.'s property was sold to
Public Utilities Co., for the nominal sum
We
CO.
informed that "the city authorities
eminently satisfactory franchises under which the net earnings will without
largely increased."
Compare V. 109, p. 371 and V. 108, p. 2241,
1390, 1060.
doubt be
Default.—Int. due April 1 1919 on the 1st
lowing committee was formed:
M. 5s being unpaid, the fol¬
.
5s.—Chairman, Wm. T. Bacon; Lawrence M.
Symmes, Arthur C. Allyn, Crawford Livingston; Sec., Roy K. Thomas, care
Chicago Sav. Bank & Trust Co.
Depositary, Chicago Sav. Bank & Trust
Co., Chicago, 111. V. 108, p. 2241.
Committee
for
lsf
M.
ORGANIZATION.— Incorp. in Miss. In May 1912 to combine local gas
electric light and power and street railway properties.
Has contract for
city electric lighting running to April 1923.
Franchises extend beyond
April 1 1922.
In Sept. 1919 the company put out $125,000 additional 1st mtge. 5s
(included in amount outstanding), proceeds being used for new construc¬
tion, &c.
STOCK AND BONDS—
Common $1,000,000 ($100)
Pref 6%
Interest.
Date.
Maturity.
Outstanding.
JERSEY CITY,
$1,000,000
600,000
$600,000..
cum
^^n^SfJPi500'000 g0,dl 1912
PUBLIC
& Co., Inc.
"
>
Sinking fund or 2% of bonds out began
interest in Chicago and at New York office of P. W. Brooks
See V. 94, p. 1566.
'EARNINGS.—For
mYear—
12 months
Gross.
1917
Exp. A
$325,492
309,723
279.785
ending Dec. 31:
Interest.
Survlus.
,$44,490
44,490
45,485
$72,364
Net.
Taxes.
$116,854
117,472
86.514
$208,638
I
72,982
41,029
ROAD.—Owns 14 miles of track.
Standard gauge.
—V. 108,fp. 1060, 1390, 2241; V. 109, p. 173, 371.
18 passenger cars.
1916
1915.
192,251
193,271
JACKSON,
JACKSON
RAILWAY
&
LIGHT
TENN.
CO.
ORGANIZATION.—Incorporated in Tennessee in July 1906, and is suc¬
cessor to the Jackson & Suburban Street Railroad Co.
"Franchises expire
n|1963.
n
I
Also owns a park of
addition to street railway.
Does lighting and power business
15 acres.
Maturity.
$300,000
250,000
($1,000)1 1906
5 g J-J
494.000
Jan 1 1937
Nosf.
Redeem at 105..cj Fidelity & Columbia Tr.Co., Louisville,Tr.
Stock and Bonds.—$150,000 com. and $106,000 bds. are held in treasury
STOCK AND BONDS—
Common $450,000 (IJ00)
Date.
Interest.
Outstanding.
Q-F
Preferred
6% cum
First mtge $600,000
EARNINGS.—For cal. year 1918,
1917, gross, $126,917; net, $45,530.
gross,
$142,591; net, $40,047.
In
8ec
viile. Ky.—V. 83.
p.
"Newark. N. J."
1,055,000 April 1 1922
5 A-O
($100, $500, $l,000)sf_c*tf/Chicago Savings Bank& Trust Co., Trustee,
Bonds.—-Remaining bonds are for imDts.. add'ns and extens: under cer¬
Subject to call as a whole (or in part for sinking fund) on
r*n? Interest date at 105 and int.
N. J.
SERVICE CORPORATION.
See statement and map under
tain restrictions.
Feb.>,l 1914.
59
ELECTRIC RAILWAYS
APE., 1920.]
95.
JOHNSTOWN, PA.
JOHNSTOWN TRACTION CO.—A trolley
road.
in Pennsylvania on Feb. 24 1910.
Was
incorporated originally to take a lease for 18 years from Jan. 5 1910 of the
Johnstown Pass. Ry. from the American Rys. (Phila.).
In Jan. 1914 the
Johnstown Pass. Ry. and the Johnstown Trac. Co. were merged under the
title of the Johnstown Traction Co., the American Rys. Co. having sold its
interests.
Franchises perpetual.
■
Holders of the Johnstown collateral 5s of Amer. Rys. had the privilege
(until Jan. 15 1914) of exchanging their bonds for the new 1st & ref. 5s of
this company (see American Railways under "Philadelphia"); practically
all availed of the privilege.
Outstanding.
Maturity.
STOCK AND BONDS—
Date.
Interest.
$875,000
Common $1,000,000 par $50-_
1,000,000
Pf $1,000,000 7% cum ($100).
2,000,000 July 1 1943
First & ref M $5,000,000 s fl 1913
5 g J-J
ORGANIZATION.—Incorp.
,
($500, $1,000) gold..c«ntf/Logan Trust Co.,
1899
4 g J-D
JohnsPassRy conM ,$800,0001
Philadelphia, Trustee.
399,000 Dec 1 1929
g($ 1,000)red any intday c*tfflnt. at Guaranty Tr. Co., N. Y., Trustee.
Johns Pass Ry ref M $2,000,-1
1901
4 g J-D
1,601,000 Dec 1 1931
000 gold ($1,000)._.c*ntf J Interest at Johnstown Trust Co., Trustee.
Bonds.—Of the first & ref. mtge. $2,000,000 are reserved to retire Johns¬
town Pass. Ry. 4s;
the remainder ($1,000,000) reserved for future exten¬
sions, &c.
Red. at 102 and int.
Sinking fund of 1 % annually began Oct. 1
1917.
Of the Johnstown Pass. mtge. of 1901, entire issue may be called
at any time at 105 upon six weeks' notice,
EARNINGS.—For years ending Dec. 31:
Surplus.
Year—
Gross.
Net (aft. Tax.). Bond Int.
$122,686
1917
$802,287
$303,657
$180,971
180.424
1916
772,219
360.424
180,000
ROAD, &C.—Owns and operates under perpetual charter and franchise
the entire street railway system of Johnstown, Pa., and vicinity.
Total
tr^ck8^6 43 miles.
OFFICERS.—Pres., E. M. du Pont.—V. 98, p. 155; V. 109, p. 1079.
JACKSONVILLE, FLA.
JACKSONVILLE TRACTION CO.—Trolley.
Receivership.—On Oct. 30 1919 E. J. Triay was appointed receiver for the
"ompany, following the refusal of the public, through referendum vote, to
Permit the company to increase fares from 5 cents.
V. 109, p. 1700.
ORGANIZATION.—Is
11998
p.
a
re-incorporation In Mass. in March 1911 (V.92,
881) of the Jacksonville Elec. Co.. which was a consolidation of the
sonvilleSt. Ry. Co., the Main St. RR. Co. and the Jacksonville
Stock of old company was exchanged, share for share, for stock
Jack'
Elec. Lt.Coof new com¬
pany.
Railway franchise expires in 1932.
Does entire electric railway bus¬
iness in Jacksonville.
$350,000 com. stock is held by Pub. Serv. Invest. Co.
On
Feb.
28
1914 shareholders authorized $500,000 additional
pref. and
common, making $1,000,000
pref. and $1,500,000
V. 98. p
763, 690, 611.
being unabie to refinance the $750,000 6% notes due Mar. 1 1919,
the
following
protective committee was formed and has issued a call
for the deposit of these notes.
A sufficient majority of the noteholders
have assented to the deposit agreement to insure the success of this measure.
V. 108, p. 1275.
In April 1920 we were informed that over 95% of the
notes had been deposited.
Committee for '2-Year 6%
Notes.—Allan Forbes, Stedman Buttrick,
Orrin G. Wood. Edwin S. Webster.
Depositary, State Street Trust Co..
Boston, Mass. V. 108, p. 1275.
additional
$500,000
common.
The
co.
Maturity.
Common $1,500,000 (S100)
$1,000,000
See text
Pref 6% cum $1,000,000($100)
6 Q-F
500,000
See text.
First consol mtg^ $5,000,0001
1911
5 M-S
884,500 Mar. 1 1931
($500 and $1,000)
c*tf j Int. at State Street Trust Co., Boston, Trus.
Jacksonv
Elec
1st
M
(as-) 1902
5 g M-N
1,245,000 May 1 1927
sumed) gold ($1,000) C*„ntf fInt. at American Trust Co., Boston, Trustee.
2-year coupon notes $1,000,-1 1917
6 M-S
750.000 Mar 11919
000 g ($500 & $1,000) ._c*/lnt. at State St. Trust Co.. Boston, Trustee
Notes payable June 30 1919__
298,000
Stock.—$100,000 common stock not reported outstanding held in treasury.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
____
Elec.
1st
M.
and
$2,667,000
are
for
additions
retire Jack¬
and Improve¬
80% of cost.
Subject to call on any int. date as a whole or in part
sinking fund at 105 and int.
Future issues of these bonds may bear
a lower rate than 5% if so determined by the directors.
Sinking
ments at
for
Interest at
fund, 1% per annum of bonds out began Mar. 1 1917. V. 92, p. 1564.
$34,500 in sinking fund canceled and $169,000 in treasury.
Jacksonville
Elec. Co. bonds are subject to call as a whole at 105 and interest on any
Interest date.
A sinking fund of 1% annually of bonds out commenced
May 1 1907, which may be used for extensions and improvements or in
purchase of bonds.
$5,000 bonds have been canceled.
The coupon notes
are callable as a whole at 100 and interest on 30 days' notice.
Dividends.—Paid 1H% quar. on pref. to May 1915: in Aug. *15 paid %%
and same rate quar. to and incl. Nov. 1916. Feb. 1917 div. passed. (V. 104,
p. 361). None since. On old Electric Co. com. 6% ann. from Aug. 1 1905 to
Aug. 1 1910, when rate was increased to 7% and same amount paid to
Feb. 1911.
On new Traction Co. com. Initial div.—\%%—paid in May
1911; same rate quar. to and Including Nov. 1914.
None since.
EARNINGS.'—For 12 months ending June 30 (no later published):
Year—•
Gross.
Net (aft. Tax.)
Interest. Sk., &c., Fds.
Surplus.
1919
$1,025,601
$152,265
$177,139
1918
781,551
241,029
170,427
ROAD.—Operates 64.1 miles of equivalent single
Gauge 5 feet.
Power plant capacity. 3,200 k. w
def.$24,874
70,602
....
track. Has 118 cars
OFFICERS.—Pres., Geo. J. Baldwin,N. Y.; V.-Ps.,
Chas.F.W.Wetterer
Hunt: Treas., Henry B. Sawyer; Clerk, Geo. A. Peirce: Mgr.,
Hardy Croom, Jacksonville, Fla.; Gen. Mgrs., Stone & Webster Mgt.
Assn., Boston.—V. 104, p. 952, 1702; V, 108, p. 1275; V. 109, p. 1700.
and Harry II.
JAMESTOWN,
JAMESTOWN
STREET
N. Y.
RAILWAY.—Trolley.
ORGANIZATION.—Incorporated Oct. 18 1883. Franchise runs till 1982
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity
Stock $250,000 (par $50)..
$250,000
First mortgage $300,000 gold)
1893
6 g J-J
300,000
Tan 2 1923
...
c* fInt. at Guaranty Trust Co., N. Y., Trustee
liabilities Dec. 31 1919
1,721.156
.. .
($1,000)
Current
EARNINGS.—For
years
Gross.
1919------..$313,804
444,913
Year—
ending Dec. 31:
Net.
Oth. Inc.
$28,794
28,368
$34,630
32,186
Chgs.&Taxes.
Balance.
$131,679
def.$6S,255
124,745
def.64,200
ROAD.—Owns 26.545 miles of track, 61 cars, 2 sweepers.
OFFICERS.—Pres.. A. N. Broadhead; Sec. & Treas., S.
Gen. Mgr., G. E. Maltby, all of Jamestown.
B. Broad-
head;
CO.—A trolley road.
_
.
PLAINFIELD & JOLIET RY.
.Toilet & Southern Traction, extending
20 miles, and 2 miles of track in Joliet, purchased by
the bondholders' committee at foreclosure sale In Feb.'1914.
It Is being
operated for the benefit of the bondholders.
Total revenues for the year
ended Dec. 31 1919. $143,218; net, $45,300.
For the division of the old
Joliet & Southern Trac. Co., extending from Joliet to Chicago Heights,
see Joliet & Eastern Traction Co. above.
Pres., F. K. Shrader, Chicago;
Gen. Mgr., R. A. Moore.
AURORA
^
^
Thfs is the division of the former
from Joliet to Aurora,
&'JOLIET
In
BLOOMINQTON PONTIAC
ELEC. RY.—A trolley road.
organization.—Incorporated in 1903.
Private right of way except
cities, where franchises run 50 years.
Date.
$2,500,000 ($100)
First mortgage $2,500,000 g\
Stock
Interest.
-
Outstanding.
895.500
Maturity.
— ------
1905
5 g M-S
300i32° ™eP/- 1 1S?5
($100, $500 and $1,000)-. Tint, at Cent. & Comm. Tr. & S.B.. G lc.,Tr.
Int. on bonds is guar, from Mar. 1 1916 by the Pub. Serv. Co. of Nor. Ill
EARNINGS.—For year ending Dec. 31 1916, gross, $25,756; net
of $1,680), loss, $1,201.
In 1915, gross. $24,441; net, (after
taxes
"(after
taxes
O^FFI<fERS^-Pres.*,
Paul
ill.
Frank J. Baker; V.-P., Chas. A. Munroe; Sec.D. Sexton; Treas.. John TT. Gullck. all of 72 W. Adams St.. Chicago,
Office at Pontiac. III.—V. 85. p. 1004: V. 90. p. 235; V. 96. p. 651.
KANSAS
KANSAS
CITY
CITY,
MO.
RAILWAYS.
*
ORGANIZATION.—Organized under Missouri laws June 6 1914 and
on Feb.
15 1916 took over the properties of the Metropolitan Street Ry.,
Kansas City Elevated Ry. and Kansas City & Westport Belt Ry. in ac¬
cordance with the plan of reorganization of the Kansas City Ry. & Light
Co. in V. 101, p
614, 689. 1628.
Owns and operates entire street railwav system serving Kansas City and Independence, Mo., Kansas City and
Rosedale, Kan., and Jackson Couvnty, Mo.; population served, over 450,000
Franchise Ordinance, <fee.—The
exclusive 30-year franchise granted
by Kansas City July 7 1914 fixed the capital value of the property In
Missouri at $25,648,806, plus caoital additions after June ! 1913.
(Val¬
uation placed on properties in Missouri and Kansas as of Dec. 31, 1919,
$36,523,250).
On the Missouri capital value, $30,717,381, the company
receives 6% cumulative, any balance of Missouri earnings, after the appli¬
cation of $6,148,807 of surplus earnings to additions and extensions, to be
credited two-thirds to the city and one-third to the company.
The city
having no interest in Kansas earnings, the income from operation of the
Kansas property belongs entirely to the company.
Not less than 16%
of gross earnings must be applied to m tint., renewals, deprec'n, &c., and
not less than 4% to damage claims.
Fares (unless reduced at expense of
city's share of surplus income) are fixed at 5 cents for adults and '2Y* cents
for children between 8 and 12 (but see below).
The city has the right to
purchase the property in Missouri at or before the end of the 30-year period
on the basis of aforesaid valuation and subsequent additions.
Operation
of the properties to be under the supervision of a Board of Control, con¬
sisting of Philip J. Kealy for the Railways Co. and Robert P. Woods for
the city.
City also nominates 5 of the 11 directors.
See franchise ordin¬
ance in detail in V. 99, p. 196, and also V. 99, p. 119.
Freight Service.—Operates an express and freight service between Kansas
City and Independence. Mo., and Dodson, Mo.
See also V. 107, p. 905.
Wage Increase.—V. 107, p. 402, 1837; V. 109, P- 1401.
Service at Cost Plan Proposed.—See V. 110, P- 1289.
Fares, &c.—On June 2
1918 was auth. by the Mo. P. S. Comm. to.
,
ORGANIZATION.—Incorporated in New York on March 7 1903.
On
Is
controlled by the same interests as the Jamestown Street Ry.
Outstanding.
Maturity.
$500,000
First mtge,
$600,000, gold! 1904
5 g A-O
600.000 April 1 1934
($1,000)
.Clint at Title Guar. & Tr. Co., N. Y., Trustee
Current liabilities Dec. 31 1919
717,516
Bonds.—No sinking fund and are not subject to call.
EARNINGS.—For ,year ending Dec. 31:
Year—
Gross.
Net.
Oth.Inc. Chgs.&Tax.
Deficit.
$154,648
def.S4,258
$77,534
$81,792
1918
132,265
14,386
75,965
61,579
ROAD.—Operates 26.73 miles of track from Lakewood. where connec¬
tion is made with the Jamestown St. Ry., to Mayville, there connecting
with the Pennsylvania RR., and to Westfield, N. Y.,connecting there with
the Lake Shore & Mich. So. and the N. Y. Chicago & St. Louis Ry., and
from Westfield to Barcelona-ou-Lake Erie.
Standard gauge: 80-lb. T railOFFICERS.—Pres., A.N. Broadhead: V.-P., Wm. Broadhead: Treas.,
8« B. Broadhead; Sec.; W, R. Reynolds; Mgr., Geo. E. Maltby;
1914 in Illinois, repre¬
reorganized portion of the Joliet & Southern Trac. Co., operating
between Joliet and Chicago Heights.
This property was appraised by the
Illinois P. U. Comm., which authorized stockrto be issued to the amount of
$269,000 and additional $31,000 for cash received.
There Is outstanding
$300,000 capital stock.
No bonds.
Rate Increases.—Effective Sept. 16 1918 the 111. P. S. Comm. granted
the co. an increase in passenger and freight rates to remain in effect until
6 mos. after the war.
V. 107, p. 1385.
,n.0
EARNINGS—For year ending Dec. 31 1919, gross, $80,480; 1918,
gross, $61,755.
..
road.—'Total length of all track. 25 miles, extending from Joliet to
Chicago Heights.
60-lb. T rail; standard gauge.
OFFICERS.—Pres., Joy Morton, Chic.; V.-P., Robt. T. Kelly. Joliet;
Sec., E. H. Stearns, Chic.; Treas., Daniel Peterkin. Chic.; Gen. Mgr..
F. C. Eckmann, Joliet.—V. 99, p. 1832; V, 107, p. 1385.
^
to 6 cents, effective July 15 1918 for one yearJustice Bond in the Missouri Supreme Court over¬
increase fares from 5 cents
CHAUTAUQUA TRACTION
STOCK AND BONDS—
Stock $500,000 ($100)
CO.
ORGANIZATION.—This company, Incorp. In
sents the
STOCK AND BONDS—
Non-taxable in Massachusetts.
Bonds.—Of the 1st consol. bonds, $1,245,000 are reserved to
sonville
JOLIET, ILL.
JOL1ET & EASTERN TRACTION
Date.
Interest.
Sept. 7 1918 Chief
Circuit Judge John G. Slate (who refused to permit the
co. to file a supersedeas bond in the 6-cent fare case, thus giving the city a
5-cent fare,) and auth. the co. to continue charging a 6-cent fare, pending
final decision by the State Supreme Court.
V. 107, p. 1192. This decision
was handed down on Dec. 31 1918 and upheld the ruling of the Mo. P. S.
Comm.
V. 108. p. 171.
The city appealed to the U. S. Supreme Court,
but on Nov. 10 1919, that court upheld the ruling'of the lower court.
V. 109, p. 1891.
On July 11 1919 the Mo. P. S. Comm. auth. theco. to
continue the 6-cent fare, pending investigation by the Comm.
of the cos.
application for auth. to charge a 10-cent fare with tickets at 2 for lo cents.
V. 109, p. 270.
On Aug. 4 1919 the Mo. P. S. Comm. fiuth. the co. to
increase fares from 6 to 8 cents, tickets to be sold at 2 for 15 cents, 7 for 50
cents and 50 for $3 50, these rates to continue in effect for one year from
Aug. 20 1919.
V. 109, p. 577.
For modification of this order see V. 109,
ruled the action of
& crease
2357.
Kansas City, Kan., from John
Effective Jan. 2 1920, Federal Judge 6 to 8C.cents. The order
Pollock auth. an
in fares in
restrains the Kansas P. U. Comm.
from enforcing its 6-cent
enjoins interference with the collection of 8-cent fares.
V.
The Kan. P. U. Comm. has appealed to the U. S. Supreme
fare order and
110, p. 167.
Court.
In
April 1920 the Mo. P. S. Comm. denied the co's. application for auth.
increase fares from 5 to 8 cents in Independence.
Auth. to
to 10 cents between Kansas City and Independence was
effective April 1 1920.
V. 110, p. 1526.
to
fares
increase
granted,
1917 issued $1,000,000 6% 2-year coll. notes for expenditures
already made or to be made for improvements, extensions. &c.
In Feb. 1918 the Mo. P. 8. Comm. auth. the co. to issue SI,151,830 addi¬
In
Dec.
tional capital stock, representing improvements
1915.
made since May 1
Up to April 12 1920 this had not been Issued.
In July 1918 issued $7,750,000 3-year coll. 7% notes to retire the $6,259,000 3-year notes due July 1 1918, and to pay in part for improvements,
extensions, &c.
V. 107, p. 181.
On Aug. 27 1919, Eastern bankers loaned the co. $1,000,000 on the
personal endorsement of J. Ogden Armour.
y*>.«?»
***
Interest Payments.—The July 1 1919 int. on the co's. 1st and 2nd mtge.
bonds was paid Aug. 28 1919.
V. 109, T). 982.
Compare V. 109, p. 173.
The int. due Nov. 15 on the co's.
Subseguent int. not paid when due.
further
formed to protect
3-yr. 7% notes having been defaulted and in view of the fact that
defaults
impending, the following committee was
were
the interests of holders of all the co's. bonds and notes and
deposits.
has called for
V. 109, p. 1986.
General Protective Committee.—Chairman,
Arthur Reynolds; Vice-Chair¬
H. L. Stuatt; Alfred L. Aiken, John E. Blount Jr., J. F. Downing,
Frederick II. Ecker, Geo. J. Johnson, E. V. It. Thayer, Melvin A. Traylor;
Secy., Harry Benner, 209 South La Salle St., Chicago, 111.
Depositories for 1st M. Bonds.—First Trust & Savs. Bk., Chicago, 111.;
Chase Nat'l Bank, N. Y.;!Penna. Go. for Insce. of L. & Gr. Annuities,
Phila., Pa.; Old Colony Trust Co., Boston, Mass.; First Nat'l Bank, Kansas
City, Mo.
man,
Depositories for 3-Yr. and 2-Yr. Coll. Notes.—Contl. & Comml. Trust
Bank, Chicago, 111.; Chase Natl. Bank, N. Y.; Penna. Co. for Insce.
of L. & Gr. Annuities, Phila., Pa.; Old Colony Trust Co., Boston, Mass.;
New England Nat'l Bank, Kansas City, Mo.
Depositories for 2d Mtge. Bonds.—-Merchants Loan & Trust Co., Chicago,
111.; New York Trust Co., N. Y.; National Shawmut Bank, Boston, Mass.;
Commerce Trust Co., Kansas City, Mo.
V. 109, p. 1986.
& Sav.
STOCK AND BONDS—
Interest.
Date.
Capital stock
A-O
5
2d M ($4,291,000) Series A_.f 1915
6
do ($1,000,000) Series B__-f 1915
5
Redeemable at 103 and int. [New York
Coll gold notes Ser "A" ($100,1 1917
6
$500 and $1,000)
c*.tf
1918
7
1st
mtge
c*&r*cpt
gold
1915
g J-J
J-J
J-J
Outstanding.
Maturity.
See text
See text,
$15,917,400 July 7 1944
3,924,000 July 7 1944
1,000,000 July 7 1944
Jes "A" g.
"B"
($1,000)
-C*
g
g
J-D
M-N15
i
certificates
1920
56,000
Deferred
injury & dam'ge ctfs, 1915
Mtged notes on purch'd prop__ 1918
1944
1920
to Nov. 25'23
_
,
Slock.—The capital stock, fully paid up,
See text.
117,261 July 1
26,250July 15
See text
5 & 6%
is in the nominal sum of $100,000
and is represented by 62,716.7 preferred and 63,620.5 common parts of no
stock are Robert J. Dunham, Charles W.
It is provided that whenever a corporation
can be lawfully formed with pref. and com. shares of no specified par value,
with authority to take over the stock of another corporation as Its assets,
the trustees shall cause one to be organized and shall turn over to it the stock
In their custody, the beneficial certificates to be canceled and replaced by
pref. and corn, shares.
Notes.—'The 3-year notes are secured by $10,651,000 1st M. bonds, of
which $8,076,000 were originally issued as 5% bonds, but upon which the
co. pays an additional
1%; the remaining $2,575,000 were issued as 6s.
The former are pledged at 75% and the latter at 82%.
Additional notes
may be issued only upon pledge of additional 1st M. 6%s in these ratios,
or at the co.'s option, upon pledge of 1st M. 5s at 70%.
Red. all or in
part upon 30 days' notice at 100^ and int. prior to Nov. 15 1920 and at
100 and int. thereafter.
Tax refund in Penn.
The 2-year coll. notes out¬
standing are secured by $1,219,600 6% 1st M. bonds.
Red., all or part,
upon 30 days' notice at 100 and int.
Int. on both payable in N. Y. or
Chicago without deduction of normal Federal income tax of 2%.
V. 105,
p. 2543; V. 107, p. 181.
First Mortgage Bonds.—Of the 1st M. bonds outstanding, $10,150,200
were issued under plaq in retirement of securities of predecessor cos., and
$5,767,200 to provide for receiver's certfs., cash requirements of reorgani¬
zation, for retirement of the company's 3-year notes and for improvements.
$8,076,000 1st M. 5% bonds (upon which the co. covenants to pay an addi¬
tional 1% per annum) and $2,575,000 1st M. 6% bonds are pledged as
security for the 3-year notes and $1,219,600 1st M. 6% bonds for the 2-year
notes,
$55,000 are in treasury.
Additional bonds may be issued for new
construe., add'ns, ext., &c. (in Missouri only on certificate of Board of
Control), in the ratio of $1,000 of bonds for each $1,100 expended.
De¬
nominations: c* $1,000, $500, $100: r*. $1,000 $5,000 and $10,000. Interest
payable in New York, Chicago or Kansas City.
Callable as a whole or
In part at 103 and int. on any int. date on 60 days' notice. Trustee, Cont. &
Comm. Trust & Savings Bank, Chicago.
See V. 102, p. 2254.
Second Mortgage Bonds.—A sinking fund of $105,820 per annum, which
began Jan. 1 1916, is expected to retire Issue by maturity.
$366,400 in
sinking fund and $600 in treasury (not included in amount reported out¬
standing) as of March 1 1920.
Equip. Trust Certifs.—Series "A" mature $29,000 July 15 1921, $28,000
Jan. 15 1922, $29,000 July 15 1922 and
$28,000 Dec. 15 1922.
Red. at
100 & divs. on any int. date on 10 day's notice.
Are secured by assign¬
ments of leases covering 40 Birney One-Man safety cars, for which purpose
money notes aggregating $187,082 of the Kansas City Rys. Co., to which
these cars are leased, have been deposited.
This Issue of certifs. represents
about 50% of the selling prices of these cars, the balance having been paid
in cash and by an issue of $56,000 Ser. "B" certifs. maturing in monthly
installments from Feb. 15 1920 to Dec. 15 1920, both incl.
V. 110, p. 465.
Deferred Injury and Damage Certificates.—Issued at par in exchange for
all approved claims inferior to old bonds but superior to the stock, for
which no other provision was made in plan.
Callable at par.
Bear 6%
interest, cumulative, payable only out of net earnings.
Not a lien on physi¬
cal property, but status, as against owners of the stock, is substantially
similar to that of a preferred stock.
Dividends.—An initial dividend of $2 50 on the pref. beneficial certificates
was paid
Oct. 1 1916.
In 1917. April, $2 50: Oct., $2 50.
April 1918
dividend omitted.
V. 106, p. 1577.
None since.
par value.
Trustees for the
Armour and Charles N. Black.
Revenue passengers carried.
Net operating revenue
Net, after taxes
Int. on joint net oper. deficit
Miscellaneous income
109,273,316 131,791,497
51,815,940
65,848,171
$6,649,996
$7,000,977
def.88,980
$1,635,763
def.$524,440
$1,118,638
13,388
32,511
29,596
Int.
on
def.$505,317
Mo. injury & damage certifs..
s
$2,449,419
34,342
$1,148,234
$2,415,076
411,302
def.$505,317
$1,148,234
gross
def.$324,238
def.198,489
$1,003,139
127,743
$1,652,722
320,599
17,411
income
17,352
30,453
_.def.$505,317
$1,709,547
$1,148,234
$1,497,156
$2,003,774
$1,442,568
1,009
175,243
5,026
85,071
16,864
13,600
Deductions—Bond interest
Kansas injuries and damages (paid
in cash)
Other deductions
Net
__
income
def.$2,391,115def.$439,010sur.$530,741
The total profit and loss deficit; June 30 1919, after
deducting $131,368
appropriated for.sinking fund, &c., was $3,111,783.
PROPERTY.—Over 310.720 miles of single track equivalent, about 75%
ined
Saved;capacity 60,000 k. w.,and 13 sub-stations; 755 2 power houses, trail¬
remainder on bridges or private right-of-way: motor cars and comers
in addition
to work cars.
Kansas
KANSAS
CITY
POWER &
LIGHT CO.
ORGANIZATION.—Incorp. in Mo. June 27 1919, and permitted
business as a foreign corporation under the laws of Kansas, Nov.
1919.
The co. under a reorganization, took over on Sept. uO. 1919, all
do
to
11
of
the properties of the Kansas City Light & Power Co. (see this section of
Nov. 15 1919) and the Standard Elec. Lt. Co.
Electric lighting and power
franchises in Mo. are perpetual and in Kan. are perpetual outside of the city
of Rosedale, where franchises are limited to 20 years.
Steam heating
franchises in Mo. run for a period of 30 years.
The co. owns the entire
capital stocks of the Edison Elec. L. & Pow. Co., the Standard Elec. Lt.
Co., Consolidated Elec. Lt. & Pow. Co., the Electrical Wire Subway Co.,
Kansas City Heating Co., Kansas City Transmission Co. and The Electric
Truck Co.
Controls the electric lighting business in Kansas City, Mo. and
furnishes electrical energy in Wyandotte and Johnson Counties, Kan., and
furnishes steam heat to Kansas City, Mo.
The co. has contracted with the General Electric Co. for three 20,000 k.w.
_
,
Seneratorfor an ultimate first unit of 300,000 k. w. to cost, including
units as the capacity for installation in a new power
esigned
house
equip¬
purchased a 25-acre site
V. 105, p. 1526, 1713.
Delivery
Construction of plant is expected to be
ment. $10,000,000.
In Oct. 1917 the
the Missouri River for the purpose.
on
company
has been made.
completed about Sept. 1920.
The co. had been purchasing its power from
the Kan. City Rys., but as the latter's plants were overloaded it proceeded
to construct its own power plant.
Rate Increase.—On Aug. 13 1918 was auth.by the Mo. P. S. Comm._to
increase electric light rates by 10%. effective Sept. 1 1918.
V. 10/, p. 806.
of two generators
^
STOCK AND BONDS.—
Interest.
Date.
Outstanding.
Maturity.
^tock (see text,)
mtge & coll trust gold/ 1919
7 g J-J 1
6,000,000 Jan 1 1921
1 Int. payable in New York and Chicago.
City Light & Power Cot 1915
5 J-J
3,060,000 July7 1944
1st mtge red at 103 and int. (Cont. & Comm. Tr. & S. Bk., Chic., trustee.
Kan City Lt & Pow Co 2d mtge/ 1915
6 J-J
1,725,392 July 7 1944
$1,917,300 red at par & int. [Central Trust Co., New Y'ork, trustee.
Stock.—Auth., $20,000,000 (par $100); $10,000,000 fully paid, of which
$5,000,000 is treasury stock and $5,000,000 is deposited with John H.
Lucas, Thomas J. Connors and Oscar Fenley, trustees under trust agree¬
ment concerning the stock of the Kansas City Light & Power Co.
The
capital stock deposited with the trustees is represented by 31,810.3 com.
and 31,358.3 pref. participating certifs. of no par value.
\
Bonds.—$4,617,000 Kansas City Light & Power Co. 1st M. bonds not
reported as outstanding are pledged under the Kansas City Power & Light
1st & coll. trust 7% notes.
These bonds bear interest at 6%.
Additional
1st M. bonds may be Issued, with int. to be determined at time of issue, not
to exceed 6%, for extensions, add'ns & impts., on a fixed basis.
Red. at
103 and int.
A sinking fund on the 2d M. bonds of $38,346 per annum from
net earnings otherwise available for divs., which began Jan. 1 1916, is ex¬
pected to retire issue by maturity.
$191,908 in sinking fund.
Dividends.—An initial div. of $2.50 upon each pref. participating certifi¬
First
notes
.
,
cate
was paid Oct. 2 1916.
Same amount
including April 1 1918.
None since.
%
semi-annually (A. & O.) to and
ending Dec. 31 1919,
1918, $3,305,470; 1917, $3,249,735;.1916, $2,904,700.
EARNINGS.—Gross earnings years
$4,792,997;
OFFICERS.—Pres., Joseph F. Porter; Y.-P. & Gen. Mgr., Hugh C.
Blackwell; Sec., C. R. Smith; Treas., R. J. Clark.—V. 104, p. 1804; V. 105,
806.
1214, 1526, 1713; V. 106, p. 825, 1581; V. 107, p.
p.
KANSAS CITY CLAY COUNTY & ST.
JOSEPH RAILWAY CO.
On July 5 1915 the Interstate Ry. Co. was awarded a verdict for $1,500,000 against the company and the estate of George Townsend by a jury in
the Circuit Court in its suit
alleging that the defendant company had
built its line between Kansas City
and St. Joseph on a part of the
right-of-
Case reversed under
way obtained by the plaintiff (V. 100, p. 130, 288).
stipulated agreement of settlement.
ORGANIZATION.—Incorp. in Missouri in 1911 under a 200-year char¬
In Jan. 1913 the line from Kansas City to Excelsior Springs, Mo., was
ter.
opened, and on May 5 1913 opened for operation its line between Kansas
City and St. Joseph, 52^ miles.
V. 96, p. 1423.
Also handles freight.
In Dec. 1914 terminal service was begun to Kansas City for the Quincy
Omaha & Kan. City RR. (O. B. & Q. system) .
See details in V. 99, p. 1910.
Valuation.—On Oct. 24 1917 filed a request with the Mo. P. S. Comm.
for an addition of about $3,000,000 to its valuation of $3,900,000 fixed
3 years previous by the Commission.
The co.
be fixed for going value and for an additional
asked that a proper amount
amount for working capital,
105, p. 1898.
On Jan. 15 1920 the P. S. Commission fixed the
value of all the property as of July 31 1917 at $4,800,000.
V. 110, p. 562.
Commutation Rates Ordered.—See V. 110, p. 562.
Compare, however,
V.
&c.
V.
100, p. 140.
Freight Terminal.—The Kan. City Interurban Freight Term. Co. was in¬
in Feb. 1917 to provide facilities in the city for handling interurban
freight and express matter.
Stock auth. and issued, $100,000; bonds auth.,
$100,000, of which $75,000 outstanding.
The stock of the co. is owned by
Interests associated with the Kansas City Clay County & St. Joseph Ry.
and the Kansas City Kaw Valley & Western Ry.
These cos. and the Kan¬
.
m
corp.
sas
Lawrence & Topeka Ry. have
terminal and have guaranteed an
The terminal was opened Oct. 10 1917.
Harrigan is Pres.- J. F. Holman, Vl-Pres.; E. S. Bigelow. Sec. &
City Western Ry. and the Kansas City
entered into contracts for the use of the
annual
R.
J.
Treas.
tonnage of 31,000 tons.
105,
V.
p.
2184.
STOCK AND BONDS—
Stock
com
Sept.
Date.
Interest.
$10,000,000 ($100)
1st mtge $10,000,000
000 gold sf red at 105
1
1915
Outstanding.
$4,000,000
Maturity.
See text
($1,-7
1911
5 g M-S
3,079,000 Sept 1 1941
after(Equitable Tr. Co.,N. Y., and J. F. Downc*tf(
ing, Kan. City, Trus. Int. payable N. Y.
Bonds.—Unissued bonds can only be issued for 80% of the cost
under conservative restrictions.
fund of 114% of bonds certified, began Sept. 1 1917.
Dividends.—In 1914, 2%% paid; 1915, June, \%%.
In
1917, 214%.
In 1918, 2%%.
of per¬
Sinking
In 1916, 4K%.
In 1919, 2^.-
EARNINGS.—For years ending Dec. 31:
Cal. Yr.—
Gross.
Net. aft. Tax. Interest, &c.,
Dividends.
Surplus.
$98,198
$1,041,965
$364,092
$155,894
S110.000
52,162
843,529
320,176
158,014
110,000
ROAD —Operates 52.55 miles between Kansas City and St. Joseph,
Mo., and 28.24 miles between Kansas City and Excelsior Springs, Mo.,
total
77.61 miles.
70 and
80-lb. T-rail; standard gauge.
Passenger
1919
$2,003,774
Miscellaneous...
Company's
36,484
$1,148,234
share
Company's share
Company's Income—
Net from Missouri properties
Net from Kansas properties
City, Mo.
Representing the city: William T. Kemper, Frank C.
Davis.M. Pinkerton, John W. Wagner and John H. Wiles all of
City, Mo.
J; A. Harder is Sec. & Treas. and Fred G. Buffe,
Gen. Mgr.—V. 108, p. 79. 171, 268, 480, 579, 1390, 1610, 2022, 2120;
V. 109. p. 173, 270, 371, 577, 982, 1273, 1461, 1891, 1986, 2172, 2357,
2260; V. 110, p. 78, 167, 465, 764, 1289, 1526.
Kansas
Niles,
1918--...—
__.def.$505,317
Divisible income
City
1917.
137,394,143
69,516.515
$7,408,019
$2,886,084
$2,412,934
...
Gross income
OFFICERS.—Representing the company: Robert
Chicago; Philip J. Kealy (Pres.). Charles W.
Hovey, Frank Hagerman and P. W. Goebel, all of
(Chairman),
manent additions and extensions,
REPORT.—For year ending June 30 1919 in V. 109, p. 2260.
Years ending June 30—
1919.
1918.
Transfer passengers
Total operating revenue
DIRECTORS AND
J. Dunham
Armour, George S.
Kan
Trust Co., N. Y., trustee.
1,000,000 Dec
11919
7,750,000 May 15 *21
[Continental Tr, & S. Bk., Chicago, trustee.
Birney Safety" Equip. tr.( 1920
6 g J-J 15
114,000
See text,
certifs.
Trust No. 5, Ser--!Fidelity Trust Co., Phila., Pa., trustee.
Series
[Vol. 110.
ELECTRIC RAILWAYS
60
equipment, 21 cars, 5 exp. motorcars. 10 express trailers, 10 other cars and
1 American electric ditcher, 1 electric locomotive.
OFFICERS.—Chairman of Board & Pres., Allen G. Hoyt; V.-P. & Gen.
Mgr., J. R. Harrigan: Sec. & Treas.,
V. 106, p. 607; V. 110, p. 562.
KANSAS CITY.
W. S. Tuley.—V. 105, p. 1898, 2184;
KA^V VALLEY & WESTERN RAILWAY.
ORGANIZATION.—Incorp. in Kansas July 28 1909.
The line between
in operation July 20 1914, and
June 1 1916; total miles track
operated, 42.314.
Gauge, 4 ft. 8H in.; 70-lb. T rail.
7 passenger cars;
2 electric locomotives; 4 express and baggage, 8 box and 14 dump cars.
The road as projected will extend to Topeka, 26 miles beyond Lawrence.
Connection is made with the street railway system of Kansas City.
Direct
freight connection at Kansas City with C. R. I. & P. Ry., K. C.-S. Ry,
and K. C. Terminal Ry.
At Bonner Springs with U. P. RR. and A. T.
& S. F. RR.
Franchise In Lawrence extends to 1946.
Kansas City Interurban Freight Terminal.—See Kan. City Clay County
Kansas City and Bonner Springs was placed
from Bonner Springs to Lawrence, Kan., on
& St. Joseph Ry. below.
Fares.—The I.-S. C. Comm. in
Sept. 1918 auth. an increase in passenger
mile.
V. 107, p. 1192.
On Oct. 28 1918 was auth.
freigh rates 25%.
Compare V. 106, p. 2649.
In March 1920
authorized to increase fares to 3 cents per mile with a minimum 10- cent
fares to 2.6 cents per
toiincrease
was
fare.
V.
110, p. 1289.
Apr..
ELECTRIC
1920]
8TOCK AND BONDS—
Date.
Interest.
Maturity.
Outstanding.
Stock, $1,500,000 ($100)
$682,500
—
1st M $2,500,000 gold ($100)7 1914
6 g P-A
780,000
Aug 11924
$500
and
$1,000)
c*tf\Int. at First Tr. & Sav. Bk,, Chicago, Trust.
General mtge, $812,500 gold I 1914
6 g F-A
487,500
Aug 1 1924
\Int. at Com. Tr. Co., Kan. City, Mo., Trus.
Bonds.—The issuance of first mtge, bonds for the construction of the
road is limited to $20,000 per mile; additional bonds may only be issued
for 90% of cost of improvements, betterments, additions and extensions,
Red., all or part, at 101 and int. on any
on 60 days' notice.
The gen. mtg. bonds are limited to $12,500
mile; callable at 101 and int.
Y. 102, p. 1625; V. 104, p. 452.
under conservative restrictions.
int. date
per
EARNINGS.—For years ending June 30:
Year—
Gross.
Exv. A Taxes.
Net.
1918-19
$283,673
Interest.
1919
def.4.833
$16,035
$76,050
76,050
$106,098
75,114
$232,049
172,025
$338,147
247,139
—
1918
Surplus.
$76,050
76,050
$92,085
$191,588
1917-18
232,109
160,892
71,217
LATEST EARNINGS.—For calendar years:
$30,048
def.937
OFFICERS.—Pres., K. D. Klemm, Kansas City, Mo.; V.-P., & Gen.
Mgr., W. R. Taylor, Bonner Springs, Kan.; Sec. & Treas., E. S. Bigelow;
Aud., L. H. Darrow.
Office, 919 Baltimore Ave., Kansas City. Mo.—
V. 105, p. 2184; V. 106, p. 2649; V. 107, p. 1192; V. 110, p. 561,1289.
RAILWAY.—A trolley road.
Formerly the Kansas-City-Leavenworth Railroad and name changed to
Kansas City-Western Ry.
Has long-time franchises in territory served.
Freight Terminal.—See K. C., Clay County & St. Joseph Ry. above.
KANSAS CITY-WESTERN
Foreclosure Sale, Ac.—Int. on the company's bonds having been de"
faulted, the Guaranty Trust Co., N. Y., trustee for the 1st & ref. 5s,
brought a foreclosure suit against the company.
As a result the bondhold¬
ers' committee named below purchased at foreclosure sale the Kansas City
Western Ry. and the Leavenworth Street
that the properties will be reorganized.
Ry. for $250,000.
V. 110, p. 970.
It is reported
Committee.—Walton H. Holmes, P. W. Goebel and P. T.
110, p. 970.
Bondholders'
White.
V.
STOCK AND BONDS—
Stock
$2,000,000
($100)
Date.
Interest.
—
_—
Outstanding.
$2,000,000
Maturity.
gold] 1905
5 g M-S
1.650,000 Sept 1 1925
(coup
$1,000,
r
$ 1,000,-{Interest at Guaranty Trust Co. New York,
$5,000, $10,000).———tfl
Trustee.
Stock and Bonds.—$1.400,000 of bonds were Issued to refund a like amount
of bonds outstanding of old company, all but $42,000 of which have been
retired, $100,000 for general corporate purposes and $150,000 for improve¬
ments; remaining $3,350,000 to be issued for acquisitions, extensions and
1st ref mtge $5,000,000
Improvements under customary restrictions.
Entire outstanding issue is
red. on any int. date at 105 and int.
V. 89, p. 1483.
REPORT.—For year ending June 30 1919, gross, $380,937; net, after
taxes, $19,492; int. on bonds, &c.. .$83,459:
deficit, $63,966.
ROAD.—Owns and operates 43.75 miles of road, of which about 18 miles
are within the city of Leavenworth and 25% miles between Ft. Leavenworth
and Kansas City, Kan. Enters Kansas City, Mo., over tracks of the Kansas
City Viaduct & Terminal Ry., which owns and operates a steel and con¬
crete viaduct connecting Kansas City, Kan., with Kansas City, Mo.
Has
second entrance into Kansas City over tracks of the Metropolitan Street Ry.
OFFICERS.—C. F. Holmes, Pres.; C. F. Hutchings, V.-P. and Gen. At¬
torney; S. D. Hutchings. Sec. and Treas.; J. G. Herrion. Supt.; W.M.
Bonar, Aud.
General office, Leavenworth, Kan.—V. 109, p. 1461; V. 110,
p. 167, 970.
MISSOURI & KANSAS INTERURB. RY.—Known as "Strang Line."
ORGANIZATION.—Incorporated In Kansas under Gen. RR. law.
In
1909 receiver appointed the previous year was discharged, and old company
resumed control.
V. 86, p. 1467; V. 89, p. 1281.
Motive power changed
from Strang gasoline cars to electricity in 1908.
right of way about 80 feet wide from Kansas
V. 87. p. 614.
Has private
City to Olathe.
Financing.—On July 11 1919 was auth. by the Kansas P. IT. Comm. to
issue $500,000 1st mtge. 6% bonds and $300,000 2d mtge. bonds.
The new
securities will be used to refund the present 1st mtge. 5's and will provide
the co. with approximately $150,000 of new money for rehabilitation and
impts.
V. 109, p, 477.
Date.
STOCK AND BONDS—
Interest.
Outstanding.
Maturity.
$1,000,000
600,000 Jan 1 1956
$1,000,000 ($100)
First mortgage $600,000 gold)
1906
5 g J-J
($1,000)
___cj Fidelity Trust Co., Kansas City,
Stock
Trustee.
EARNINGS.—For cal. year 1916. gross, $115,049; net, $37,745.
1915. gross. $103,129; net. $38,721.
ROAD .—Operates 20 miles of road from Kansas
In
South-
City through
ridge, Morrison Ridge, Milburn Place, Overland Park and Lenexa to Olathe.
Kansas City over tracks of the Kansas City Rys.
70-lb. rails.
including passenger and freight.
Construction of a line from
Olathe to Ottawa. 26 miles, is under consideration.
OFFICERS.—Pres., W. B. Strang; V.-P., H. C. Brent; Sec. & Treas.,
Has 13 cars,
Mgr., Thos. Riley.
General offices. Overland Park,
614; V. 89, p. 1281; V. 109. p. 477.
E. N. Daniels: Gen.
KENNEBUNK, ME.
Porpoise Ry., the Mousam River RR. and the Sanford Power Co. In June
1909 the Alfred Light & Power Co. was acquired.
Does a freight business.
Second & Gen. M. bonds were Issued at 80 with 100% stock bonus.
Default.—The initial obligatory coupon, due Oct. 1 1915, on the $641,750
4% ref. M. bonds was defaulted.
V. 101, p. 1464. All other coupons
due on and after Oct. 1 1915 are also in default.
Receivers.—Pres. F. O. Conant and Treas. Constant Southworth, both
of Portland, were appointed receivers by the U. S. Circuit Court, Portland.
V. 101, p. 1552.
May 1 1917 W. G. Meloon, Ports¬
H., was appointed separate receiver and manager of this co.
property comprises 42 m. of track connecting Portsmouth and Klttery
with Dover and South Berwick, Including a line to York Beach.
Fares.—On Aug. 18 1917 was auth. by tne Maine P. U. Comm. to increase
the number of its fare zones by three.
In June 1918 filed with the Maine
P. U. Comm. a new fare schedule, effective July 7 1918, providing for an
increase in passenger fares from 6 to 7 cents (except in the zone between
Sanford and Springfield where a reduction from 6 to 5 cents was made).
The schedule also provided for an increase in the price of strip tickets,
having 9 coupons, from 50 to 55 cents.
V. 106, p. 2648. Effective June 1
1919 fares were increased to 8 cents cash with strip tickets (7 coupons) at
mouth, N.
The
50 cents.
Power bonds are subject to
1897
can
be called at 105.
ROAD.—Operates 37 miles of track, connecting Springvale, Sanford,
Kennebunk, Kennebunk, Kennebunkport and Cape Porpoise with
BIddeford and Saco; thence over connecting fines to Old Orchard and Port¬
land.
See V. 81, p. 1549.
A link from York Beach to Kennebunk, 16
miles, was put in operation July 21 1907.
Total, 53 miles.
Owns 2
water-power plants and 1 steam plant with generating capacity of 3,000
k. w.
Has 22 passenger cars and 2 electric locomotives.
60 and 70-lb. rail.
West
REPORT.—For calendar year:
Gross
Operating
Net
All
Interest on
Earnings. Expenses. Earnings. Taxes. Bonds, Ac.
_$184,106
$170,262
$13,844
$5,331
$80,895
171,638
151,045
20,593
5,915
80,895
231,757
198,440
33,317
6,182
92,595
Calendar
Year—
1919
1918
1917—
—
Balance
Deficit.
$72,382
66,217
65,460
—
the Atlantic Shore Ry. was divided east and west
passing to the operating control of
The figures from May 11917 on,
for the Atlantic Shore Ry. as at present constituted.
Note.—On May 1 1917
of York Beach, Maine, the western end
the Portsmouth Dover & York St. Ry.
are
OFFICERS.—Receivers. Frederick O. Conant and Constant Southworth
Mgr. for Receivers, S. T. Dow.—V. 101, p. 1464, 1552;
198-
V. 106,
p.
2648.
KENNETT, PA.
WEST CHESTER
KENNETT & WILMINGTON ELECTRIC RY.
ORGANIZATION.—Incorporated in Pennsylvania on May 24 1905,
and is a reorganization of a company of the same name sold under foreclosure
in April 1905.
On Feb. 26 1908 absorbed the formerly controlled Oxford
West Grove & Avondale St. Ry
See V. 86, p, 670.
STOCK AND BONDS—
Common
Date.
$925,000——
—
Interest.
Outstanding.
$525,000
75,000
-
—_
Pref ($75,000) 6% non-cum__
First mtge $1,000,000 »gold\
($500
and
1905
5 g J-D
420,000 June 1 1935
c.tf/Int. at Integrity Trust Co., Phila., trustee
SI,000)
EARNINGS.—For 5rear ending Dec. 31
taxes
In 1918
$7,947.
Maturity.
———
1919' gross
$63,588; net
gross
$75 850; net
after taxes
after
$1,758.
ROAD.—About 20 miles of track between West Grove, Avondale, Ken-
nett
Wilmington, connecting at Kennett for West Chester.
Square and
The extension from Avondale to Oxford, 12/-$ miles, has been completed as
far
as
West Grove and is in
Gauge, 5 ft. 2>£ in.
operation to that point.
60 and 70-lb. T and girder rail.
19-
OFFICERS.—Pres.,
Geo.
Kessler, Phila.; V.-P., Clarence L. Harper,
Phila.; Sec. & Treas., Philip E. Guckes, Phila.; Gen. Mgr.,
sham, Kennett Square, Pa.—V. 94, p. 831; V. 95, p. 177.
B. F. Wicker-
KEOKUK, IA.
VALLEY
MISSISSIPPI
CENTRAL
ELECTRIC PROPERTIES.
ORGANIZATION.—Formed in Illinois by a trust agreement dated
Dec. 12 1913, under which there are deposited with trustees all the common
stock of the Keokuk Electric Co. (see below) and all the capital stocks of
Fort Madison Elec. Co. and Dallas City Light Co.
These companies do
the entire electric railway, electric lighting, power and gas
business in
Keokuk, la.,
the entire electric lighting and power business in Fort
Madison, la.,
and Dallas City,
111., the entire electric railway and
fighting business in Hamilton and Warsaw, 111., and operate an interelectric railway between Keokuk, Hamilton and Warsaw (largely
urban
on
leased lines).
Franchises.—The electric railway and elec. fighting franchises In Keokuk
expire in 1936, the gas franchise in 1928.
The electric lighting franchise
In Hamilton expires in 1936; the important railway franchise in 1931.
The electric fighting franchises In Fort Madison and Dallas City expire
In
1938.
Stock, auth. and outstanding: Common, 7,500 shares
6% cum. pref. stock (par $100—red. at 110), $750,000t
(no par value)
No bonds.
EARNINGS.—For years ending Dec. 31 (combined companies):
Year.
Gross.
Net(aft.Tax). Interest. Sink.Fund.
Surplus.
—
$424,475
339,076
$84,901
$29,765
.>55,135
79,485
29,245
50,240
1J^% was paid on the pref. stock in
to and Incl. Sept. 1917.
None since.
,
Dividends.—An initial dividend of
ROAD.—Miles of equivalent single track, 7.99; trackage, 6.14; standard
16 passenger and 1 other.
All power Is purchased from the
Mississippi River Power Co.
guage; cars,
OFFICERS.—Pres., Geo. Hlgginson, Jr.; V.-P., Harry
T. Edgar; Sec.,
Joseph L. Valentine Chicago 111.; Treas. H. B. Sawyer, Asst. Sec., Victor
D. Vickery.
Gen. Mgrs., Stone & Webster Mgt. Assn.—V. 98, p. 72, 610.
(1)
Electric Co.
Keokuk
ORGANIZATION.—Incorp. in III. on Dec. 5 1911 as successor to the
Ry. & Pow. Co.; Keokuk Gas & Elec. Co.; Hamilton Lt.
Power Co. and Keokuk & Western Elec. Co., control of which was
&
purchased In 1911 by Stone & Webster Mgt. Assn.
Does the entire electric
railway, electric fighting, power and gas business in Keokuk, la.; the entire
electric railway and electric lighting business in Hamilton and Warsaw, 111.,
and operates an interurban electric railway between Keokuk, Hamilton and
Warsaw (largely on leased lines).
Franchises.—See Cent. Miss. Valley Elec. Properties above.
STOCK AND BONDS—
Common
Date.
Interest.
Maturity.
$650,000 Nov '17. iff
250,000 Mar '20, 1)4
Outstanding.
Q-F
$650,000 ($100)
Pref $250,000 ($100) 6% cum
Keokuk El Ry & Pow 1st Ml
Q-F
5 J-J
1901
$250,000 (closed mtge)_ntf (Cent. Trust Co. and
155,000
See text
H.E. Ambler, Trustees.
1918
6 g J-J 15
150,000 Jan 15 1923
($100, $500 and $1.000)—/Int. at First Tr. & S. Bk., Chicago, trustee.
Notes payable June 30 1919
150,000
Stock.—Common stock is all owned by Cent. Miss. Vail. Elec. Properties.
Pref. stock in red. at 110.
Both classes of stock are non-taxable in Illinois.
Bonds.—The Keokuk Elec. Ry. & Power first mtge. 5s are due serially
1920 to 1925.
Red. any int. day at 105 and int.
$95,000 canceled.
The
5-yr. 1st & Ref. bonds were issued to pay off $150,000 Keokuk Gas Lt. &
Coke 1st M. 5s due Jan. 15 1918.
$18,000 are reserved to retire underly¬
ing bonds.
Are red. as a whole on any int. date at 102 and int.
Emile
K. Boiset of Chicago is also trustee.
Dividends.—Divs. on pref. have been paid since organization.
Initial
div.oncom.—2%—paid in Feb. 1914; May, 1*4%: Aug.. 2% (V.99,p.467);
Nov., 2%.
In 1915 and 1916, 6%.
In 1917, 5%.
None since.
First & Ref. Mtge.
$400,0001
Dec. 31:
Gross.
Net(aft.Tax.) Interest. Stnk.Fund.
Surplus.
$317,237
$53,381
$27,868
$25,513
1918264,236
59,427
27,480
31,947
ROAD, &c.—See Central Miss. Valley El. Properties above.
EARNINGS.—For years ending
Year—
Date.
STOCK AND BONDS—
Interest.
Stock $1,000.000 ($ 100)
Gen lien
at
Keokuk Elec.
ATLANTIC SHORE RAILWAY.
ORGANIZATION.—Incorporated in Maine on Jan. 1 1911 (per plan In
V. 91, p. 869) as successor to the Atlantic Shore Line Ry. (sold at fore¬
closure Dec. 1 1910). which company was a consolidation In April 1906 of
the old Atlantic Shore Line Ry. and the Portsmouth Dover & York Street
Ry.
The former company in April 1904 purchased the Sanford & Cape
Portsmouth Dover A York St. Ry.—On
call, all or any part, after ten years
105, to be drawn by lot.
See V. 78, p. 2383.
The Alfred Light &
call at 105.
Mousan River bonds matured Dec. 1 1912, but have been extended.
Portsmouth Dover A York St. Ry.—The bonds of 1903 can be called at
105 and int.
The 2d 5s can be called at par on any int. date.
The 6s of
Line consols of 1904 are subject to
March 1914: same rate quar.
Enters
Kansas.—V. 87. p.
61
RAILWAYS
M $150,000 red atl
102 and interest
Refund mtge $2,600,000
HI
Atl ShLlne 1st cons
Outstanding.
$1,000,000
futurity.
1911
5 J-J
150.000 Jan.
1 1931
1910
See text
641,750 Jan.
1 1941
J
5 g A-0
361,500 April 1 1934
M$1,000,-/ 1904
OOOg ($500, $1,000) c*_cpt\Int. at Columbia Tr. Co., N. Y., trustee.
Atl ShLlne 1st M $125,000 cpt 1904
5 J-J
120,000 Jan. 1 1924
Alf Lt & P 1st M $250,000/ 1905
5 g J-J
250.000 July 1 1935
($500 and $1,000)
cpt/Int. at Columbia Tr. Co., N. Y., trustee.
Sanf & Cape Porp'se 1st M.cpt 1898
5 J-J
248,000 Jan. 11928
Mousam River 1st mortgage.«, 1892
6 J-D
59,000
See text
Portsmouth Dover A York St. Ry.—Under Separate Receiver.—
P D & Y 1st M $650,000/ 1903
4HJ-D
450,000 June
1923
gold ($1,000)
\State Street Trust Co., Boston, trustee.
P
D &
Y 2d M and ext/ 1905
5 g J-D
57,000 April 1 1925
$100,000
\Int. at Augusta, Me., Trust Co., trustee.
P K & Y St Ry 1st M $200,-/ 1897
6 g M-S
200.000 Mar. 1 1917
000 g ($500 and $1,000) —\Int. at Watervllle, Me., Tr. Co., trustee.
Bonds.—Of the refund, bonds, $1,893,500 (int. rate not to exceed 5%
are reserved to retire prior liens, $64,750 (int. rate 4%) are for impts. and
additions and remaining $641,750 are outstanding and were exchanged for
securities of Atlantic Shore Line Ry.
Outstanding bonds bear int. at 4%,
which was payable for first 5 years only if earned.
No interest was earned
on these bonds during that period.
The Initial obligatory coupon falling
due Oct. 1 1915 was defaulted.
V. 101, p. 1464.
The Atlantic Shore
'
_
-
V.-P., Geo. Higginson Jr.; Sec..
Henry D. Sawyer; Gen. Mgrs., Stone & Webster
97. p. i583, jl898; V. 98, p. 73; V. 99, p. 467; V. 106, p. 396.
OFFICERS.—Pres., Harry T. Edgar;
Victor D. Vickerv: Treas.,
Mgt. Assn.—"V
.
GALESBURG &
KEWANEE, ILL.
KEWANEE ELECTRIC RY.
ORGANIZATION.—Incorporated May 1902.
Is a reorganization of
Co.
by the 111. P. IT. Comm. to increase fares
from 5 cents cash fare and 25 tickets for $1 to 6 cents cash fare and 18 tickets
for $1 on city lines.
In Aug. 1919 was auth. by the III. P. U. Comm. to
increase fares in Kewanee and Weatherfield from 6 to 7 cents, ticket fares,
being raised from 18 for $1 to 4 for 25 cents.
These rates are to remain
in effect until Aug. 1 1920.
V. 109, p. 577.
the Galesburg & Oneida Elec. Ry.
Effective July 1 1918, was auth.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
$200,000 ($100)
- --—$200,000
$400,000 ($100) 6% cum
110,800
First mtge $400,000 ($500 &! 1906
5 g J-J
400,000 July 2 1920
$1,000)
gold
c&r/Int. atCont. & Com. Tr. & Sav. Bk. .Chic.,Tr.
Bonds.—Are red. on any int. day at par and int.
No s. f.
Common
Pref
—
ELECTRIC
62
EARNINGS.—For 12
Gross.
1918
L.
1917
-
ending Dec. 31:
Net.
Deprec'n.
mos.
Year—
<
$17,392
$80,881
81,415
$12,000
12,000
25.435
interurban
70-80-lb.
(WSROAD.—Has city line in Kewanee and Wethersfield
and
between Kewanee and Galva.
Total track operated 14 miles.
T and girder rails.
Deficit.
$22,096
12,874
Int. & Taxes.
$27,488
26,309
Wage Award by National War Labor Board.—V. 108, p. 378.
retired at maturity,
The $400,000 6% debentures, due Jan. 1 1919, were
the company obtaining a bank loan.
This loan had
as
of
Gauge 4 ft. 834 in.
Sec., F. M
109, p. 577.
Maturity.
J-D
$2,050,000
See text
1911
5 J-D
3,306,000 June 1 1946
($500 and $1,000)--_c*cpt/Int. at Guaranty Trust Co., N. Y.t Trustee.
Knoxville Trac 1st M $850,-1
1898
5 g A-0
806,000 April 1 1938
000 g tax-free ($ 1,000)—c« lint. at Baltimore Trust Co.. Bait.. Trustee.
Stock
$2,050,000
ext
mtge
JERSEY CENTRAL TRACTION CO.—Trolley.
Control.—The American Railways Co., which see under
owns
all
Philadelphia, Pa.,
the common stock.
ORGANIZATION.—A consolidation in May 1917 of the old Jersey
Traction Co. (see "Electric Ry." Sec. for May 1917) and the
Central
1917 to lease the property and
Co.).
At the same time the
Electric Light, Heat & Power Co., which was
controlled by the Traction Co. through ownership of 442 of the 500 shares
of capital stock, was merged with and into the Monmouth Lighting Co.,
whose entire $305,000 outstanding common stock is owned by the American
Central Jersey Traction Co. (incorp. Feb. 1
franchises of the Jersey Central Traction
.Middlesex & Monmouth
Rys. Co., which in turn is controlled by the United
National Utilities Co.
The Lighting Co. purchased the power house, transmission lines and sub¬
stations formerly owned and operated by the Traction Co. and sells power
&
ref.
Dividends.—First
dividend
$5,000,000 ($100)_
Pref 6% cum
First
mtge
—
600,000
800,000 Mar
6%
fig M-S
$5,000,000] 1917
1947
1
($1,000)
tf/Int. at Com'l Trust Co., Phila.. trustee.
Stock.—Preferred stock is redeemable at 105 three years after issue.
-
Earnings.
$26,369.
36.03 miles of road from South Amboy,
Keyport and Belford to Red Bank; Belford through Atlantic
Highland Beach; Freneau through Matawan to Keyport, N.
Highlands to
J. Standard
2 passenger
?auge 60-lb. Tcars, 70-lb. girder rails. Nearly all over private right of way.
and 29 freight cars and 1 snow-plow. An extension from
Mechanicsville and over the Raritan River Bridge
completed in 1910.
South Amboy through
to Perth
Amboy
was
OFFICERS.—Pres., Van Horn Ely; V.-Pres., C. L. S. Tingley;
Mgr.
&
V.-Pres.,
Gen.
H. J. Crowley; Sec. & Treas., Walter W. Perkins.—
2235; V. 105. p. 389, 1309; V. 107. p. 1004, 2290.
V. 104, p. 452, 1702,
key
west,
$516,011
497,711
432,684
OFFICERS.—Pres. & Gen. Mgr.. C. H. Harvey;
Maturity.
& Treas.,
103,
p.
Q-M
350.000
1906
5 g F-A
457,000 Aug 1 1956
tf/Int. at State Street Trust Co., Boston. Tr.
$1,000,0001
Pref. Stock.—Redeemable at 110.
Bonds.—Are subj. to call as a whole or in part for s. f. at 105 and int. at
any time.
A sink, fund of 1% of bonds out began Dec. 1 1907, if earned;
on Dec.
1 1912 became obligatory.
$83,000 In treasury not incl. in out¬
standing amount.
$53,000 canceled.
$227,260
202,873
1919—
Sink. Fund.Surplus.
$54,623
60,104
$24,887
24,260
$79,510
84,364
RAILWAYS
Sc
LIGHT CO.
ORGANIZATION.—Incorp. in Indiana on Dec. 7 1912 as a consolida¬
Western Trac. Co., Kokomo Frankfort &
Western Traction Co. and Kokomo Public Utility Co.
Acquired the Gal¬
tion of the Kokomo Marion &
veston
Light & Power Co. as of May 31 1916 and Issued $10,000 pref. stock
to pay for same.
In Feb. 1917 purchased the Converse Light & Power Co.
and Issued $100,000 1st M. bonds and $55,000 pref. stock to pay for same
and for extensive additions and impts. to equipment in the power plant
on an interurban and street railway business and
light and power In Kokomo and 22 smaller towns and
villages; also steam heat In Kokomo.
All franchises held by the co. were
surrendered in 1917.
Is now operating under indeterminate permit of
at
Kokomo.
furnishes
Carries
electric
the Ind. P. S. Comm.
In July 1917 the Oakland
Coal Co., a subsidiary, purchased the mine of
Bugg Coal Co. at Oakland City, Ind., to insure this co.'s fuel
C.
auth. to increase all local and intra-State
freight, express and passenger tariffs.
Compare V. 106, p. 1901.
Has
also been auth. to collect a 30% surcharge on heating bills and 34 cent ,per
k. w. h. surcharge on power bills.
In Feb. 1920 was auth. by the Ind.
P. S. Comm. to install a straight 5-cent fare and to discontinue the sale of
6 tickets for 25 cents.
V. 110, p. 561.
Date.
STOCK AND BONDS—
$2,000,000 ($100)-_
$1,000,000 ($100)
1st & ref M sk fd $5,000,0001
Common
—
Outstanding.
Maturity
$2,000,000
Feb'20. 1%
492,800
See text
1,254,000 Jan 1 1943
Interest.
Q-F
6 Q-M
5 g J-J
1912
g c*Ltf/Union Trust Co. of Indianapolis, Trustee.
$1,000,-1 1903
5 g J-J
650,000 July 1 1933
($500 & $l,000)c*ntf /Interest at Security Tr. Co., Ind., Trustee.
($500 and $1,000)
Kok Mar & W 1st M
000 g
Slock.—Preferred
stock
Is non-voting.
In addition to the amount
re¬
ported outstanding $22,200 is held in treasury.
Subject to call at 105.
Bonds.—Of the 1st & ref. bonds, $650,000 are reserved to retire the K. M.
are held in treasury and $3,020,000 are for additions,
Red. on any int. date at 105.
Jan. 1 1917.
In lieu of retirement of bonds, company
may at Its option set aside annually for perm, add'ns, Impts. & extensions,
at not exceeding 80% of cost thereof, a sum equivalent to 134% of total
amount of refund, bonds out.
Int. payable at Spencer Trask & Co., N. Y
V. 95, p. 1684.
K. M. & W. 1st M. bonds are subj. to call at 105 and Int.
$11,0b0 of the amount reported outstdg. are held in treasury.
See V. 76,
p. 1143; V. 77, p. 451.
Dividends.—6% Is being paid on the pref. stock.
On common. 1% s.-a.
to Aug.
1915. when 134% was paid.
In Feb. 1916. 134%: Aug., 2%;
Nov., 1%.
In 1917. 4%.
In 1918, 234%.
In 1919, 4%.
In 1920,
Feb., 1%.
& W. bonds,
$76,000
betterments, &c., under certain restrictions.
EARNINGS.—For years ending Dec. 31:
Year—
Gross.
Net (aft. Tax.) Interest.
1918
102, p. 1163; V.
kokomo, ind.
INDIANA
Pref cum
$350,000 ($100) 6% cum
mortgage
V.-P., W. S. Shields;
C. J. Pleming; Aud., C. A. Briggs.—V.
2238; V. 107, p. 501; V. 108, p. 78.
Sec.
Rates and Fares.—In 1918 was
Outstanding.
$500,000
Interest.
Date.
Common $500,000 ($100)
gold
$263,389
249,718
'183,040
1919 owned 54.352 m. of track, incl. 13.761 miles
70-lb. and over T and girder rail.
Has 27
95 closed and 10 work cars; total, 121.
Power station (held In
reserve) has 6,800 k.w. capacity.
KEY WEST ELECTRIC CO.—A trolley road.
Pref
Surplus for
Renew., &c.
supply.
ORGANIZATION.—Incorporated in New Jersey in 1898 and does entire
electric-light and power business of the city; also owns
franchises for manufacture of gas.
Franchise expires 1997.
In June 1906
was acquired by Stone &
Webster of Boston and re-capitalized as below.
V. 82, p. 1496.
Public Service Investment Co. owns $374,100 commoD
stock and $287,800 preferred stock.
First
was
ROAD.—On Dec. 31
the T.
fla.
electric railway and
STOCK AND BONDS—•
1%
open cars,
1917, gross, $256,128; net, after taxes,
$90,685, interest, Ac., $64,316; surplus,
ROAD.—Owns and operates
Interest.
&c.
$252,622
247,993
249,644
Net (after
Taxes).
Gross
Year—
bonds.—Guaranteed, p. & L, by the American Rys. Co.
Callable In
whole or part after March 1 1922 at 10234Additional bonds may be
issued for additions, extensions, &c.
REPORT.—For calendar year
1907,
of double track; standard gauge;
Maturity.
Outstanding.
$531,400
Interest.
Date.
$600,000 ($100)
gold
common—2%—June 29
$1,396,099
1,223,305
*,087,072
EARNINGS.—
Cal.
1918
Common
on
paid Sept. 1907 and. 1% Dec. 1907; in 1908,4%; In 1909, 7%; in 1910.8%;
Then stock all made one class and In June 1912 paid 334 %:
In 1913,734%.
Inl914,4%.
Stock all owned by Ameri¬
can Cities Co. and dividends no longer made public.
1917
V. 107, p. 2290.
$806,000 are reserved for Knoxville
of cost of extens.,
In 1911, 10%.
Dec.,334%.
the N. J. P. U. Comm .auth. the co. to
STOCK AND BONDS—
mtge.
have been canceled.
charge 6 cents in the former 5-cent zones.
Y. 107, p. 1004.
In Dec. 1918
the co. was auth. by the N. J. P. U. Comm. to charge 7 cents instead of
6 cents per zone.
ext.
add'ns, Impts., &c., under conservative restrictions.
Bonds are red. as a
whole, but not In part, at 105 and Int. on 60 days' notice, or may be pur¬
chased In open market at a price to net not less than 4 34 % •
Annual sink¬
ing fund began Oct. 1 1915. equal to 34 of 1% of total amount of bonds out.
$62,000 in sink, fund April 1 1920. Penn. State tax refunded.
The Knox¬
ville Traction Co. first mortgage bonds are not subject to call.
$44,000
1919—
to the latter under contract.
Fare Increase.—In Sept. 1918
Outstanding.
and $5,856,000 are reserved for 80%
5s
1st
Interest.
Date.
($100)
$10,000,0001
Bonds.—Of the
Traction
keyport, n. j.
not been taken up
April 1 1920.
STOCK AND BONDS—
Ref &
OFFICERS.—Pres., W. H. Lyman; V.-P., J. K. Blish;
Lay; Treas., J. II. Baethke; Gen. Mgr., R. H. Hayward.—V.
[Vol. 110.
RAILWAYS
Sk.fd. 1% began
.
ROAD.—Operates 5.41 milos of track;
1,170 k.w.
10 cars.
Gauge 5 ft. 234
in.
Power station capacity,
OFFICERS.—Pres., George J. Baldwin, New York; V.-Ps., Henry G.
and Harry H.Hunt; Sec., \ ictor D. Vickery; Treas., Henry B.
Bradlee
Sawyer; Mgr., Bascom L. Grooms, Key West, Fla.; Gen. Mgrs., Stone &
Webster Mgt. Assn., Boston.—V. 82, p. 1496; V. 94, p. 1508.
EARNINGS.—Years ending Dec. 31:
kingston, n. y.
KINGSTON
CONSOLIDATED RR.
ORGANIZATION.—This is
ton
Gross earnings
Netearnings
a
Other income..-
consolidation
on
Dec. 111901 of the King»>
City RR. and the Colonial City Traction.
6-cent fare for a period of 1-year from
STOCK AND BONDS— ^ Date.
April 15 1919.
V. 108,
p.
Outstanding.
Maturity.
Common $200,000 ($100)
$200,000
;
Preferred 4% cum $200,000-200,000 Aug. '17. 3%
First consolidated mortgage] 1901
5 g J-J
532,000 Oct 9 1951
$700,000 ($1,000) gold c*tf {Int. at Bankers Trust Co., N. Y., Trustee.
Second
mortgage
$250,0001 1909
5 J-J
None
Jan 1 1939
($1,000)
*—jInt. at Bankers Trust Co.. N. Y., Trustee.
Kingston City RR.—
Oonsol $150,000 ($1,000)
not] 1893
5 M-S
Balance,
2528.
Interest.
12,408
—
259,826
Int., taxes, deprec'n, pref. dividends, &c.
Fare Increase.—Was auth. by the N. Y. P. S. Comm. to put into effect
a
1919.
1918.
1917
$867,239 $673,946 $611,315
$381,950 $298,744 $312,812
j.
$134,532
surplus
13,345
213,76(.
8,639
178,577
$98,329 $142,874
ROAD.—Operates 53 miles of interurban electric railroad from Marion
through Kokomo to Frankfort and 9 miles of street railway In Kokomo.
Is connecting link between the Terre Haute Ind. & East. Trac. Co. and the
Union Traction Co. of Indiana.
Standard gauge, 70-lb. T rail.
On Dec.
31
1919 bad 9,830 light and power and 166 heat consumers.
OFFICERS.—Pres., Geo. J. Marott; V.-P., L. J. Kirkpatrick; Treas.,
A.
Holllday; Sec., L. B. Hodgin; Aud. & Asst. Sec., Karl A. George,
Treas., P. H. Palmer.—V. 106, p. 1901; V. 110, p. 561.
R.
Gen. Mgr. & Asst.
125,000 Mar 1 1923
BUbj to call before mat y. tf/Int. at Farmers' Loan & Trust Co., N. Y.
Mortgage on car barn
5 quar.
6.000 On demand.
laconia, n. h.
Bonds.—$156,000 of the $700,000 consolidated mortgage Is reserved to re¬
tire the Kingston City RR. underlying liens; $12,000 have been canceled.
Dividends.—4% was paid yearly on pref. stock from consolidation up to
1908, when 2% was paid Aug. 1.
None to Jan. 1 1911, when 4% was paid.
None up to Sept. 1 1914, when 3% was paid.
In 1915, April, 3%: Aug.,
6%.
In 1916, Aug., 3%.
In 1917, April, 3%; Aug., 3%.
None since.
ORGANIZATION.—Formerly the Laconia <fc Lakeport Street Ry., but
name changed to above In 1894Early in Sept. 1919 we were informed that the bonds, due May 1 1919,
"were not taken up but are held subject to readjustment of securities which
Is under way."
No further information.
ROAD.—Embraces 8 miles of track.
2
snow
Rails, 70, 80 and 90-lb.
40
cars
1919
1918
—
$191,359
159,878
$43,330
50,612
31:
Interest.
Taxes.
$10,527
10,892
$35,893
34,827
Balance.
def.$3.090
sur.4.893
OFFICERS.—Prps., Fred. T. Ley, Springfield, Mass.; V.-P., Henry C.
Page, Worcester, Mass.;
Sec., G. B. te Bow, Kineston; Treas.
4bm.
Hasbrouck, New York.—V. 89, p. 225, 529; V. 90, p. 303; V. 108, p. 2528.
Date.
Interest.
Outstanding.
Maturity.
$100,000
40.000
First mortgage $91,000 ($1.-1 1899
5 M-N
91,000 May 1 1919
000)
/Interest at American Trust Co., Boston.
Second
mortgage
$40,0001 1904
5 M-N
40,000 May 1 1919
($1,000)
/Interest at People's National Bank, Laconia.
Dividends.—In 1893-94 paid 5%; In 1894-95 paid 4%; none since.
STOCK, Ac.—
—
ROAD.—Own^ 8.87 miles of track from Laconia to Weirs.
gauge.
».
RAILWAY.
Common $100,000 (par $50)—
Pref 6% cum $40,000 ($100)
plows.
REPORT.—For years ending Dec.
Cal. Year—
Gross.
Net.
LACONIA STREET
knoxville, tenn.
1918—
KNOXVILLE RAILWAY & LIGHT CO.
1917
Standard
11 passenger and 2 other cars.
EARNINGS.—For years ending Dec. 31;
Calendar Year—
Gross.
Net. after Tax.
$2,912
def.685
$28,117
34,373
-
-
Bd.Int..&c.
$7,194
7,302
Deficit.
$4,282
7.987
Controlled by American Cities Co. (see under New Orleans), which owns
all the stock.
ORGANIZATION.—Incorporated In Tennessee
on
Aug. 5 1905
as a con¬
la
solidation of the Knoxville Traction Co. and the Knoxville Electric Light &
Power Co.
Does all the street railway and all municipal and commercial
electric-lighting and power business in Knoxville and serves various nearby
Also owns two amusement parks.
Franchises are perpetual,
crosse,
wis.
WISCONSIN RAILWAY, LIGHT & POWER CO.
ORGANIZATION.—Incorp. In Wisconsin
on
Jan. 16 1913 and has
in fee all the property formerly belonging to the
ac¬
communities.
quired and
except as to 134 miles of street railway, which latter run until Nov. 28 1946.
In 1911 $1,500,000 com. and $500,000 pref. stock was all made one class
and Increased to $2,050,000.
Has favorable long-term contract with Tennessee Power Co. for the pur¬
Crosse Water Power Co., the La Crosse City Ry. and the Winona Minn.)
chase of electric power.
In Dec. 1916 issued $1,534,000 ref. and ext. M. 5s, proceeds being used
to retire $325,000 2-year 6% coll. notes due July 1 1917 (paid off Jan. 3
1917 at 10034) and $1,062,000 consol. M. 5s due Sept. 1 1945, which were
called for payment on March 1.1917 at 10734.
V. 103, p. 2238.
now
owns
La
Ry. A Lt. Co.
Does electric-light and power business in Winona. Minn.,
and Onalaska. Wis., and operates street railWays In Winona and La Crosse.
Owns
hydro-electric plant at Hatfield, Wis., with transmission lines to La
Crosse and Winona, at which cities It also has steam
reserve
plants.
1919 the Wisconsin State Supreme Court,
ruling against the city of La Crosse, held that an emergency existed when
Fare Decision.—On June*25
the RR. Comm. auth. the co. to increase its fares from 5 to 6 cents.
p.
73.
V. 109.
STOCK AND BONDS—
Common $1,230,000.
First &
ref M
($1,000)
|
LANCASTER COUNTY RAILWAY & LIGHT.
5 F-A
2,225,000 Feb
c*tf(First Trust Co., Milw., Trustee.
gold
City
Crosse
1913
1 1933
Ry 1st M
1909
5 g J-J
220,000 July 1 1929
($1.000)
c] Int. at Wisconsin Tr. Co.. Milw.. Trustee.
provides that $2,225,000
may
be
issued
at
par for corporate purposes of the company.
Bonds in addition to the
$2,225,000 may be issued as follows: $220,000 to retire La Crosse City
bonds and $75,000 to retire a like amount of bonds which may be issued for
certain additional property; remaining bonds are issuable at par (u) to
redeem at par any underlying bonds or any mtge. debt existing against
any property acquired, not exceeding, however, at par, the reasonable
value of such property; and (b) for not exceeding 75% of cost of any additional property, with certain restrictions.
Bonds red. on any int. date at
105 and int.
Sinking fund, 2% per annum, began in 1918.
Int. payable
at office of trustee, or at office of company or at its New York agency.
(closed mtge)
Bonds.—The
mtge.
EARNINGS.—For years ending Dec. 31:
12 Months—
Gross.
Net. after Taxes.
1919
1918
—$604,278
$219,997
488,094
ROAD.—24 miles of track.
Balance.
$79,667
Interest.
$140,329
def.2,296
140,381
138,085
Controlled by the
ORGANIZATION.—Incorporated on June 15 1901 In New Jersey. Owns
properties, whose stocks
placed under the mortgage of 1901:
I
Conestoga Traction Co.,
I Edison Electric Co.
Lane. Gas Light & Fuel Co.
I
Also controls the Lancaster Elec. Lt. Ht, & Pow. Co.
The Lancaster
Gas Lt. & Fuel Co. controls the Columbia Gas Co. and the Conestoga Trac.
Co. controls the Conestoga Realty Co.
Franchises are perpetual.
Does ail the gas and electric lighting in cities
of Lancaster and Columbia, and practically all in Lancaster County.
In Dec. 1917 increased auth. capital stock from $2,500,000 (of which
$1,000,000 5% cum. pref.) to $3,750,000.
Fares.—On Aug. 2 1918 the Conestoga Traction Co, increased its fares
from 5 to 6 cents, and on Jan. 17 1919 this increase was held by the Penna.
P. S. Comm. to be reasonable.
See also V. 109, p. 371.
Practically all the $160,000 Lancaster City RR. 1st M. 5s due April 1
are
1920 were taken up at
MINNESOTA
WISCONSIN
'
& POWER CO.
properties managed by American Public
LIGHT
V-
'
.*
to $10,000,000 and merged the
Chippewa Valley Ry. Lt. & Power Co. (incorp. in Wis. in 1898) and the
Chippewa Valley Construction Co.
In 1914 acquired the property of the
Winona Gas Light & Coke Co., Red Wing Gas Light & Power Co., Minne¬
sota-Wisconsin Power Co., Eau Claire Gas Light Co. and Neillsvllle Elec¬
tric Co.
V. 99. p. 1758.
In July iyl7 purchased the property of the
Bloomer (Wis.) Elec. Light & Power Co.
V. 105, p. 296.
Owns and oper¬
ates electric light and power, street and interurban railway, gas, domestic
water, and hot water heating properties in Eau Claire, La Crosse, Chippewa
Menominee, Sparta, Tomah and Viroqua, Wis., and Winona, Wabasha,
Lake City, Twin Cities and Red Wing, Minn.
Operates under an indeter¬
minate permit granted by the Wisconsin RR. Comm. and is protected
against competition by any other public utility doing a similar business.
Has contract with Northern Stages Power Co. to supply it with electric
energy for 30 years which began in 1917.
In 1918 the Wis. RR. Comm. auth. increases in gas, electric, water ana
heating rates.
In July 1918 street railway fares in Eau Claire and Chippewa
Falls
increased
were
to
from
$900,000
and the rate on interurban lines was in¬
6 cents
creased to practically 3 cents per mile.
In Feb. 1920 issued $600,000 1-yr. notes,
proceeds being applied to the
of $1,000,000 of similar notes due at that time, the remaining
$400,000 being met by payment in cash supplied by the co.
V. 110, p. 369.
payment
Date.
STOCK AND BONDS—
Interest.
Common. $5,000,000
Pref..$5,000,000 (7% cum.)..
1st & ref M. $20,000,000 gold 1
($500&$1.000)c*($l,000)r*i
red aft May 1
Outstanding.
$2,500,000
Maturity.
5,000.000 Mar'20, 1%
Q-M 1
1914
5 g M-N
9,393,500 May 1
Int. payable In N. Y. or Chicago,
1944
"19@105&int/Harris Trust & Sav. Bank, Chicago; Trustee,
.
[
Albert W.
Harris Co., Trustee.
One-year notes $600.000($5001 1920
7 g F-A 1
600,000 Feb. 1 1921
& $1,000) g
c/Int. at Cont.& Com. Tr. & Savs. Bk.,Trust.
Chipp V Ry L & Pow 1st Ml 1907
5 g J-J .
506.000 July 1 1924
(closed)$2.000.000($l,000)gjlnt. at Harris Tr. & Savs. Bk., Chic., Trustee
Eau Claire Gas Light Co
220,500
Winona Gas Light & Coke Co_
300,000
Red Wing Gas Light & P. Co
250,000
J.
Stock.—Pref. stock Is pref. as to assets and dividends.
Additional pref.
stock may be issued only under conservative restrictions.
The pref. stock
may elect a majority of the directors whenever four consecutive quarterly
dividends remain unpaid or the property is shown to be inefficiently man¬
aged or depleted.
See V. 99, p. 54; V. 106. p. 1797.
Bonds.—Of the 1st & ref. bonds of 1914, $506,000 are reserved to retire the
_
Chippewa Valley Ry., Lt. & Pow. bonds. Escrow bonds can be issued to re¬
tire prior liens and for 75% of cost of ext. and add'ns (provided $250,000 is
expended for ext., &c., without the issue of bonds), but only as regards the
first $2,750,000 bonds, in case the annual net earnings are 1H times the
total int. charge, incl. bonds applied for; balance may be issued when net
is 1% times int. charge.
V. 98, p. 1995.
Sinking fund payable on the
basis of the following percentages of the bonds outstanding. Including under¬
lying bonds: 1% yearly to 1928. 1H% 1929 to 1938, and 2% 1939 to 1943;
either to retire bonds
or
for extensions and additions.
,
Notes.—While any of the 1-year notes are outstanding no
bonds may be
Red. all
Interest payable in New
issued except to reimburse the company for capital expenditures.
or
in part
com.
$2,000,000/ 1900
4 J-J
1,277,500 Jan 11950
$500&$l,000)._c*tf(int. atProv. Life& Tr. Co.. Phila., Trustee.
$225,000/ 1891
5 M-N
225,000 May 1 1921
Conest Trac 1st M
($100,
E
St
Ry 1st M
and $500)
($100
1st
at 100and int. on 30 days' notice.
V. 110, p. 369.
on pref. stock of 1 54% paid Sept. 1 1914; same
since to and incl. March 1920.
Dividends.—Initial div.
EARNINGS.—
Gross
Year Ending—
Dec. 31
Dec. 31
Bond
Taxes. &c.) Interest.
$867,318
$316,681
896,480
298,862
681.531
242,801
Earnings.
1,712,220
1.277,090
1917
1916
LATEST
Net (after
$1,785,242
May 31 1918
EARNINGS.—For
cal.
year
M
1919,
Preferred
Balance,
Dividends.
Surplus.
$350,000
$200,637
291,200
162,354
306,418
276,376
gross,
$2,181,686.
In
1918, gross, $1,829,711.
_
...
retire bonds at maturity.
Dividends.—The first dividend on the preferred
OFFICERS.—Pres., Jos.
H.
Brewer; V.-P., W.
B.
Parsons; V.-P.
&
Gen. Mgr., P. D. Kline; Treas., C. A. Boalt; Sec., Blaine Gavett; Asst.
Sec .-Treas., W. J. Ripley.—V. 105, p. 296, 1106, 1899; V. 106, p. 1797;
V. 107, p. 516, 1292; V. 108. p. 481, 581; V. 109, p. 987; V. 110, p. 369.
LAKE
CHARLES,
LA.
ORGANIZATION.—Incorporated in Louisiana in 1909.
In June 190*>
the company acquired the Lake Charles Street Ry. Co., operating an electric
railway in Lake Charles and Lake Charles Ice, Light & Water Works Co.,
which operates an ice plant, electric-light and power department and
1918---
Franchises expire; street-railway, 1941; electric light and power, 1928;
water-works, 1921, self-renewing every 5 years thereafter unless city buys
plant.
Fares.—On Oct. 22 1918 Judge Overton at Lake Charles, La., issued
-
Lancaster & Lititz, 9.19 miles; Colum¬
bia & Ironville, 4.27 miles; Columbia & Donegal, 5.16 miles; Lancaster &
Mechanicsburg & New Holland. 20.80 miles; the New Holland Blue Ball &
Terre Hill Street Ry., 4.99 m.; the Rohrerstown Landisville & Mt. Joy Ry.,
13.87 m.; the Lancaster & Eastern Ry.. 17.74 m.: the Lancaster & Quarryville Street Ry., 8.44 miles; the Elizabeth town & Florin Street Ry., 6.40 m.;
the Christiana & Coatesville St. Ry., 11.04 miles; Lancaster & Millersvllle
Ry., 4.67 miles; Lancaster Willow Street Lampeter & Strasburg Ry., 11.23
mil68; the Lancaster Petersburg & Manheim Ry., 8.33 miles; the Ephrata &
Adamstown, 7.99 m., and the Lancaster &
Rocky Springs, 4.61 miles.
Subsidiary gas companies had 12.826 gas meters in use on Dec. 31 1918.
Date.
$200,000
Lines Leased to Conestoga
Interest.
Outstanding.
$200,000
Maturity.
1909
6 g F-A
105,000
See text.
c*\Inter-State Tr. & Bkg. Co., New Orl., Trus.
Bonds.—Remaining bonds are for Improvements and extensions on basis
bonds for each $1 33 of improvements, &c.
Bonds mature $15,000
1912 to Feb. 1 1922, both Incl.; redeemable on any
Int. day on 30 days' notice.
Int. is payable at office of trustee or at Chicago
Savings Bank & Trust Co., Chicago.
$195,000 has been retired.
of $1 in
semi-ann. from Aug. 1
EARNINGS.—For calendar year 1917, gross, $59,842 (for street railway
only).
gross,
In
1916, gross, $208,189.
In 1914, gross, $247,965.
In 1913,
$231,444.
ROAD.—Consists of 9 miles of track.
60-Ib. rails.
OFFICERS.—Pres.. J. A. Landry; Sec., P. O. Moss.—V. 107, p. 1747.
Traction Co.
Stock.
Name of Company—
Holland—$300,000
Rental (%). Miles.
1
8
20.80
440,000
6
Ephrata & Adamstown
225,000
6
7.99
Lancaster & Rocky Springs
New Holland Blue Ball & Terre
200.000
6
4.61
120.000
430,000
5
6
4 99
225,000
6
220,000
365,000
175,000
225,000
37.500
6
6
6
6
20
Rohrerstown Landisville & Mt. Joy
Lancaster & EasternLancaster &
,—
Hill
—....
Quarryville
Elizabeth & Florin
& Manheim
St. Lampeter & Strasburg
Columbia
Lancaster Petersburg
-
*Z*T4
8.44
6.40
8.33
*1'23
8.26
OFFICERS.—Pres., W. W. Griest; V.-P., George Bullock; Sec. and
Asst. Treas., J. A. McKenna; Treas., A. L. Linn Jr.; Asst. Sec .-Treas I.
Anna E. Ranck.—V. 105, p. 2543; V. 106. p. 396, 602; V. 109, p. 371.
Lane. Willow
Lancaster
&
LANCASTER & YORK FURNACE STREET
RY.—A trolley road.
ORGANIZATION.—Incorp. May 17 1916 In Pennsylvania as successor
& York Furnace Street Ry. (Incorp. July 22 1901), bought
in by the bondholders on Apr. 15 1916 for $125, subject to the mortgage for
$150,000 (V. 101, p. 212; V. 102, p. 1540).
Operations, which had been
discontinued in Jan. 19l6, were resumed May 19 1916.
to old Lancaster
Stock $100,000 ($50)
1st M gold $150,000
Interest.
Date.
Outstanding.
$100,000
-
Maturity,
...
1908
5 g J-J
150,000 Jan 11928
$500
&
$1,00),-.c&rntf (Int. at Northern Tr. & Sav. Co., Lane..trust.
Bonds.—Are not subject to call and have no sinking fund.
ROAD.—Operates 1254 miles of track between Millersville and York
($100/
60-lb. T rail.
Gauge 5 ft. 2M In.
OFFICERS.—Pres. & Gen. Mgr., J.
~
B. Harmsh; V.-P.
Myers; Sec., John H. Myers; Supt., H. M. Stauffer.—V.
p. 212, 2145; V. 102, p. 153, 1249, 1540, 1625, 2077.
w
& Treas., Elam H.
92, p. 187, V. 101,
a
$500,000 gold/
($500 and $1,000)
miles;
Lancaster Mechanicsburg & New
preliminary injunction to the city of Lake Charles, La., restraining the
from collecting a 7-cent fare.
V. 107, p. 1747.
First mortgage
Co. (the operating company) leases
City Street Iiy., 16.76 miles;
163.75 miles of track, including the Lancaster
Lancaster & Columbia, 8.26
LAUREL,
company
STOCK AND BONDS—
paid on
Companies—Calendar Years.
Gross.
Net (aft. Tax).
Charges.
Balance.
.$2,854,323 ~~ $J, 120,467
$494,256
$626,211
2,379,486
863.889
473,123
390,766.
ROAD.—The Conestoga Traction
Furnace.
w&t6f system.
was
Combined Results of Subsidiary
Year—
1919
STOCK AND BONDS—
LAKE CHARLES RAILWAY. LIGHT & WATER WORKS CO.
stock (3%)
July 1 1904 and 3% was again paid on Oct. 1 1904.
In 1905, Jan., 3%
(see V. 79, p. 2796); July, 3%; Dec., 454 %.
In 1906, 6)4%. In 1907, 7%.
In 1908 and since. 5%.
On common, in 1908 to 1912, incl., 10%; in 1913.
12%; in 1914, 1114%; in 1915, 14)4%; in 1916. 15%; in 1917, 1754%; in
1918, 13H%; in 1919, 15%.
In 1920, Mar., 2%,
REPORT.—For year ending Dec. 31 1919, earnings (less expenses and
proportion of surplus of suo. cosj, i>613,696 (against $347,633 in 1918);
bond interest, $50,000; pref. div., $62,405; balance, $501,291.
Christiana & Coatesville
ROAD, PROPERTY, &C.—Owns and operates 25 miles of electric
railway, incl. interurban line on private right-of-way between Eau Claire
and Chippewa Falls and local lines in those cities.
Present rated capacity of
company's hydro-electric and steam plants approximates 70,000 h. p.
Ultimate development, 150,000 h. p.
Owns over 375 miles of high-tension
transmission lines.
Also owns and operates gas properties in La Crosse,
comprising 55H miles of mains.
Stock
($100./
Lane G L & F 1st M
York and Chicago.
rate quar.
c*tf lint, at Metropolitan Tr. Co., N. Y., Trustee.
1893
5 A-O
225,000 Apr 1 1923
c*tfl Int. at Lancaster Trust Co., Lane., Trustee.
$300,000/ 1895
5 J-J
300,000 Jan 11925
($1,000)
.cntf (Int. at Lancaster Trust Co., Lane., Trustee.
Second mortgage $400,000/
1906
5 J-J
100,000 Jan 1 1936
($1,000)
c*tf lint, at Lancaster Trust Co., Lane., Trustee.
Third mtge $100,000 gold/ 1911
J-J
100,000 Jan 1 1936
($1,000)
lint, at Lancaster Trust Co., Lane., trustee.
Columbia Gas Co 1st mtge]
1911
5 J-J
75,000 Jan 11941
$200,000 ($1,000)—c*tfi nt. at Farmers' Tr. Co.. Lancaster, Trustee.
Edison Elec Co 1st & ref Mf 1913
5 F-A
1.846,500 Feb
1 1943
$5,000,000
tflLancaster Trust Co., Lancaster, Trustee.
Edison Elec Ilium Co 1st] 1895
5 J-J
290,800 July 1 1925
M $300,000 ($100, $500(Interest at Lancaster Trust Co., Lancaster.
& $1,000)
c&rtf!
Trustee.
Ool El L H & P 1st M gold/ 1905
5 M-N
125,000 May 1 1935
$125,000 ($1,000)-C&rtf lint, at People's Trust Co., Lancaster, Trust.
Conestoga Realty Co 1st Ml 1908
5 M-N
240,000 May 1 1958
$500,000 sink fund g C—tf 1 Int. at Lancaster Trust Co., Lane., Trustee.
Bonds.-— Of Conestoga Trac. 1st M. bonds. $610,000 reserved to retire
prior liens or are pledged as collateral for bank loans, $112,500 reserved to be
used for the reduction of rentals.
Of Lane. Gas Lt. & Fuel 2d M, $300,000
are reserved to retire 1st M. bonds.
Lane. Gas Lt. & Fuel 3d M. bonds are
redeemable at 105 and int. on any int. date on 3 months' notice.
Columbia
Gas Co. bonds are red. on any int. date at 105 & int. on 90 days' notice.
$125,000 reserved for future improvements at 85% of cost thereof.
Of
Edison El. Co. 1st and ref. bonds, $425,000 reserved to retire underlying
bonds; remainder held in treasury for improvements, extensions, &c., at
85% of cost thereof; red. as a whole, but not part, at 105 and int. on any int.
date;
Columbia Elec. Light, Heat & Power bonds are red. at 110 and int.
on any int. date.
The bonds are guar, by the Lane. County Ry. & Lt. Co.
Conestoga Realty Co. bonds are red. at par and int. on any int. date upon
3 months' notice.
Sinking fund an amount set up monthly sufficient to
Trac
Lancas
$500 and $1,000)
ORGANIZATION.—Incorp. in Wisconsin. Dec. 2 1901 as the La Crosse
Gas & Elec. Co. (successor to the La Crosse Gas Light Co., the
LaCrosse
Brush El. Lt. & Pow. Co. and the Edison Lt. & Pow. Co.)
On June 24
1914 changed name to Wisconsin Minnesota Light & Power Co. and in¬
creased its auth. stock
maturity, the co. obtaining funds through banksloans.
Dale.
Interest.
Outstanding.
Maturity.
$2,000,000 ($50)
Q-M
$1,607,500 Mar'20,2%
Pref. $1,750,000 ($50) 5% cum
Q-M
1.24S.100 Mar'20, lk
Mtge $1,000 000 gold ($500/ 1901
5 g J-J
1,000,000 July 11951
and $1,000)
c»ntf.
.(Interest at Lancaster Trust Co., Trustee.
Securities of Lines Controlled—
STOCK AND BONDS—
W
Common stock ail owned and
United Gas & Elec. Corp.—See under New York.
and controls the following railway, gas and electric
Stock
OFFICERS.—Pres., Clement C. Smith; V.-P. & Gen. Mgr., J. P.
Pulliam; V.-P., R. M. Howard; Sec., Howard Greene; Treas., H. C.
Mackay; Asst. Sec., Wm. M. Chester; Asst. Treas., S. M. Rothermel.
Operations are directed from President's office in Milwaukee in connection
with the operations of the Wisconsin Public Service Co. and other public
utility properties.
V. 99, p. 1750, 1830; V. 109, p. 73.
Utilities Co.
I
LANCASTER, PA.
Maturity.
Outstanding.
$1,230,000
Interest.
Date.
$10,000,000/
La
63
ELECTRIC RAILWAYS
Apr., 1920. J
LAUREL
LIGHT
MISS.
& RAILWAY CO.
ORGANIZATION.—Incorp. In Miss.
Owns and operates the lighting.
and street railway system in the cities of Laurel and Ellisville, Miss.,
an electric interurban railway between the two cities.
The lines out¬
side the cities and 2 miles in Laurel are on private right of way.
Franchises
In Laurel extend to Sept. 1936; in Ellisville to Mar. 1937.
Fare Increase.—At an election held July 12 1918 the co. was granted
auth. to charge a 6-cent fare.
V. 107, p. 501.
power
and
STOCK AND BONDS—
Common
Date.
Interest.
stock
Ftot mortgage
Outstanding.
$425,000
Maturity.
75,Uu(j
PfpfpiTpd stock
$500,000 gold)
1911
($1 000)
c*tf/Int. at
Laurel El P & Lt Co mtge
6 g J-J
408,000 July 1 1930
Fidelity Trust Co., N. Y., Trustee.
m
80,000
-
64
ELECTRIC RAILWAYS
Bonds.—$80,000 1st M. bonds are reserved to retire underlying bonds;
remaining $12,000 are Issuable for additional property.
Notsubj. to call.
12
mos.to
Years ending Dec.
31
EARNINGS.—
1913.
Apr. 30 '18.
1916.
191.5.
1914.
Gross
$99,264
$128,202
$124,049
$121,756
$120,602
Net
38,887
60,371
59,633
49,082
46,640
-
between
ROAD,
&c.—Comprises 634 miles in Laurel and 934 miles
Elllsville; total, 16 miles.
Owns a pleasure park between
Laurel and Elllsville.—V. 104, p. 452; V. 105, p. 1802; V. 107, p. 501
Laurel
and
KANSAS.
LAWRENCE,
UTILITIES CO.
KANSAS ELECTRIC
ORGANIZATION.—Organized In Kansas in Sept. 1915 to acquire the
properties of the Lawrence Ry. & Lt. Co.. Emporia Ry. & Lt. Co. and
Parsons Ry. & Lt. Co.
Supplies electric light, power and street railway
■ervice in Lawrence, Emporia and Parsons, Kan.
Franchises expire In
1929, 1931 and 1938 and contain no burdensome restrictions.
Also owns
all the capital stock of the Miami (O.) Valley Electric Co., Union City
(Ind.) Electric Co. and United Lighting Co. of Albion, Pa.
Dismantlement of St. Ry. in Parsons, Kan.—On March 12 1919 the com¬
pany was auth. by the Kansas P. U. Comm. to junk its street railway
system in Parsons, Kan.
In April 1920 we were informed that this property
had been entirely dismantled.
Fares.—Effective Jan. 1920, was auth. to charge a 7-cent fare in Lawrence.
,
STOCK AND BONDS—
Dale.
Interest.
Outstanding.
Maturity.
Stock, $1.750.000
$400,000
First mtge, $1,750,000 ($1.-7 1915
5 A-O
1,171.000 Oct. 1 1925
000, $500 & $100) g.c* tfjlnt. at Cont. & Comm. Tr. & Sav. Bank.
Tax refund in Pennsylvania t
Chic., Trustee, and First Nat. Bk., N. Y.
Bands.—Remaining bonds may be issued for 80% of cash cost of extens.,
lmpts. and addns. under conservative restrictions.
Callable on 60 days'
notice, all or part, at 10234 and int.
Sinking fund began Jan. 1 1917
of 1% of bonds out from 1917 to 1920 incl., and 2% thereafter.
Bonds to
be held alive in skg. fd.
In addition a fund is to be set aside annually for
betterm'ts which will amt. to abt. $172,500 by 1925.
V. 102, p. 803.
Earnings.—Of consolidated cos. for year end. Dec. 31 1919, gross,
$407,001; net, after taxes, $120,963.
In addition the net earnings of con¬
trolled cos. applicable to divs. for the year end. Dec. 31 1919 were $62,466.
ROAD.—Owns and
and 4.8 miles in
7 trail
cars,
cars
operates 10 miles of street railway in Lawrence,
Emporia; total, 14.8 miles.
60-70-lb. T rail.
30 motor
and 1 combination work and snow car.
OFFICERS—Pres., Albert Emanuel, N. Y. City; V.-P., Irving Hill.
Lawrence, Kan.; Treas., C. B. Zeigler, N. Y. City.—V. 107, p. 1388.
1484. 1579.
LEETONIA,
YOUNQSTOWN
&
OHIO
OHIO.
RIVER
RR.—A trolley and steam
Freight service operated by steam; passenger service by electricity.
ORGANIZATION.—Incorporated
in
Ohio
Dec.
on
8
1905.
road.
In
1906
leased for 99 years Salem KR. from Pittsburgh Lisbon & Western RR. Co.
for $6,000 per annum; the former runs between Salem and Washingtonville.
7 m.
In 1910 road was re-capitalized and new securities Issued as below.
Federal Control.—The road for a time was operated under Federal control,
being classified
informed
Fare
cents
and
a
short line steam railroad, but in Sept. 1919
Federal control.
Rate Increases.—In June 1918 increased
mile
a
as
that the road
and
was
freight rates to conform
V. 106, p. 2759.
STOCK AND BONDS—
Stock
common
Date.
Interest.
1910
5 A-O
c*jlnt. at Citizens' Sav.
($1,000)
(
Trustee,
or
to
rates
rates to
on
3
Govt,
Outstanding.
Maturity.
$1,000,000
Dec *16,1%
1,000,000 Mar'20, IX
1,200,000 Apr
11935
$1,000,000
Preferred $1,000,000 5% cum.
First
mortgage
$2,500,000/
gold
were
& Tr. Co., Cleveland.
First National Bank, N. Y.
Stock and Bonds.—Pref. stock div. is cumulative from July 1 1913.
Bonds subject to call on any int. date at 105 and int.
Remaining bonds
are reserved for acquisition and extension under certain restrictions.
Dividends.—Dividends on pref. began in 1910 and in that year 1X % was
paid.
In 1911. 334%; in 1912, 434%; in 1913 and 1914, 3%%; in 1915.
434 %.
In 1916, 5% and 3% extra, paying up all accumulations.
In 1917.
1%.
In 1918, 5%.
In 1919, 3X%In 1920, March, 134%.
Initial
div. on common of 1% paid in Dec. 1916.
None since.
EARNINGS.—For years ending
Year ending
Dec. 31—
Dec. 31:
1918
Exp., Taxes
$486,748
420,967
1919
Gross
Earnings.
$367,231
605,890
Net
Earnings.
$119,517
Bond
Interest.
$60,000
115,078
& Rentals.
60,000
Balance.
for Divs
$59,517
55,077
ROAD.—Operates from the terminus of the Stark Electric Ry., in
Salem, Ohio, through the city of Salem to a connection withthe Salem RR.,
and
over
the
Salem
RR. from
Salem
through Washingtonville, Leetonia.
Lisbon
and West Point to East Liverpool, Ohio, a distance of 36 miles.
At Leetonia, O., connection is made with the Youngstown & Southern
Ry..
Owns 29.19 miles of track and leases 6.81 miles.
Standard gauge,
mostly
70-lb. T rail.
Pass, equip., 7 cars; freight, 3 locomotives. 15
cars.
OFFICERS.—Pres., Warren Bicknell; V.-P. & Gen. Mgr., J. D. Dewees;
Sec. & Treas., L. P. Metzger; Aud. & Asst. Treas., R. F. Miller.
Operating
Mgrs., Warren Bicknell Co.
General office, Leetonia, O.; executive offices,
1028 Citizens' Bldg., Cleveland, O.—V. 102, p. 523; V. 103, p. 494,
1120,
2429; V. 106, p. 2759; V. 107, p. 1289.
LEWISTOWN, PA.
LEWISTOWN & REEDSVILLE ELECTRIC RY.
Controlled by the Penn Central Light & Power Co. of N. J. (V. 96,
p. 493)
and operated in connection with the Penn Central Light & Power Co.
(Penna.).
All of the stock and some of the bonds are subject to the lien
of the mortgages of the Penn Central Lt. & Power Co.
ORGANIZATION.—Incorporated in Pennsylvania
STOCK AND BONDS—
Date.
Stock $150,000 ($50)
1st M g ($500 and $1,000)7 1899
Interest.
on
March 24 1892.
Outstanding.
Maturity.
$150,000 '07-*08, 5%
6 g J-J
150,000 Julv 1 1929
$150,000 notcallable-c&rtf [Int. at Merchants Union Tr. Co., Phila.. Tr.
Second mortgage $125,000---/ 1902
5%
125,000 May 1 1949
/Commonwealth Tr. Co., Harrsiburg, Pa., Tr
Ref Mtge $500,000
/ 1917
5 A-O
68.000 Oct
11949
I Phil a. Trust Co., Phila., Trustee.
The 1st mtge. bonds originally bore int. at the rate of
5% and matured
July 1 1919 but were extended for 10 years at 6%.
V. 109, p. 1179.
Second Mtge. 5s originally fell due May 1 1917, but were extended to
May 1 1949.
They are owned or controlled by Penn Central Light &
Power Co.
All the outstanding ref. mtge. bonds are owned
by the Penn.
Central L. & P. Co.
They were issued for exts., impts., &c.
Dividends.—1902 to 1908, incl., 5% per annum.
None since.
com.
Pref.
is
and
also
pref. are listed on Phila. and Louisville stock
listed on Cincinnati Stock Exchange.
Pref.
stock is redeemable at par and accum. div.
In July 1917 holders of both
common and pref. stock were given the right to subscribe pro rata on or
before Aug. 15 1917 for the remaining pref. stock at 8234
from July 1 1917.
V. 105,
remained unsold.
p.
389.
As of April 1
and accrued divs.
1920
$320,380 pref.
stock
Dividends.—Initial div.
pref., 1X%. paid July 15 1913; same rate
quar. to and incl. July 1916; In Oct. 1916 paid 134% and 34 of 1% extra
acct. of accumulations.
In Jan. 1917, 134% and 1% extra, paying up all
accumulations; April 1917, 134%, and same rate quar. to and incl. July
1918; none to Oct. 1919, when 134% was paid (V. 109, p. 1273).
In 1920,
Jan.. 134 %; April, 134 %.
In April 1920 a scrip div. of 6% was also paid,
clearing up all back dividends.
V. 110, p. 1526.
This scrip is payable in
cash at the co.'s option on or before April 10 1925.
V. 110, p. 1642.
EARNINGS.—Of combined properties (Ken. Trac. & Term. Co. and
Lex. Util. Co.) for years end: June 30 (1919 report in V. 109, p. 1363):
June 30.
Gross
Net
Other
Sink.Fund,
Bond
Balance,
Year—
Earnings. Earnings. Income. Taxes, &c. Interest.
Survlus.
1918-19
$1,135,780
$466,678
$51,600
S322.093
$196,186
1917-18
416.173
45,180
302,454
158,899
1,021,448
1916-17
432,275
39,289
46,462
218,034
207,068
912,540
Passengers carried in 1918-19, 5,555,937, against 6,046,491 in 1917-18.
OPERATIONS.—Constituent companies operate 93.79 miles of track.
They do the electric-light and power, gas, street railway and ice business of
Lexington.
Also operate city lines in Frankfort and lines radiating from
Lexington to Georgetown, Paris, Nicholasville, Versailles and from Frank¬
on
'
fort to Versailles.
OFFICERS.—Pres., P. M. Chandler; V.-P., F. W. Bacon; Sec., W. J.
Devine; Asst. Sec., H. T. Alley; Treas., H. Williams Jr.; Asst. Treas.,
H. D. Brown Jr.—V.
1526,
108,
p.
2241; V. 109, p. 1273, 1363, 1366; V
110, p.
1642.
(1)
Kentucky Traction Sc Terminal Co.
ORGANIZATION.—Incorporated in Kentucky on May 18 1911 as a con¬
Lexington Ry., Bluegrass Trac. Co. and Central Kentucky
V. 92, p. 1436.
The entire stock is owned by Kentucky
Securities Corp.
Franchises perpetual except those on 1 mile in Winchester
expiring in 1927.
Fare Increase.—In April 1918 Increased cash fares on interurban lines
from 234 cents to 3 cents a mile.
Through fares from Lexington were
increased 5 cents for each one-way ticket.
V. 106, p. 1689.
In Sept. 1918
the co. increased fare on its city lines from 5 to 6 cents.
solidation of the
Traction Co.
STOCK AND BONDS—
Interest.
Outstanding.
Maturity.
$2,093,400
1911
5g F-A
2,369.000 Feb
1 1951
($1,000) guar p & i
c*tf)lnt, at Commercial Trust Co., Phila., Trust.
Lex Ry first mtge $1,500,000 f 1899
5 g J-D
1,193.000 June 1 1949
gold ($1,000)
c*tf ilnt. at Continental Tr. Co., Baltimore, Trus.
Date.
Stock $2,500,000 ($100)
1st & ref mtge $7,500,000 gf
-
Blue Grass 1st mtge $700,000/ 1904
5 g M-S
210.000 Mar 1 1934
g ($500and $l,000)__c&rtf[Int. at Cleveland Tr. Co., Cleveland, Trus.
Georgetown & Lexington first/ 1901
5gM-N15
196,000 Nov 15 1921
mtge $250,000 gold ($100,(Interest at Cincinnati Tr. Co., Trustee, and
$500 & $1,000)
-.c&rtfl
at Guaranty Trust Co., New York.
Bonds.—Of the 1st & ref. bonds, $1,599,000 are reserved to retire prior
remainder for extensions, improvements, &c., at not exceeding
of cost under certain restrictions.
They are redeemable as a whole
liens and
90%
on
February 1 1914
fund
on
Bonds
passenger
increased
operated steam roads.
we
out of
Stock.—Both
exchanges.
[Vol. 110.
or any interest day thereafter, or in part for sinking
interest day after November 1 1921 at
105 and interest.
guaranteed prin. & int. by end. by the Kentucky Secur.Corp.
any
are
Sinking Fund 34% per annum of bonds out.. 1921 to 1930; 1% 1931 to
1950. V. 92, p. 1564.
As of April 1 1920 $550,000 had been retired and
canceled by operation of the sinking fund.
V. 109, p. 72.
The bonds are
listed on Phila. Stock Exchange.
V. 94, p. 1119.
Sinking fund retires 1%
of Lexington Ry. bonds annually; $223,000 were held in s. f. April 1 1920.
ROAD.:—Operates 93.79 miles' of track, comprising all street railways in
about Lexington, 16.02 miles; Frankfort, 7.64 miles; Winchester, 1.2
miles; Georgetown, 1.26 miles; interurban lines radiating from Lexington
to Versailles, Georgetown, Paris, Frankfort and Nicholasville, 65.87 miles
sidings and spurs, 1.8 miles.
.50 to 80-lb. rails.
Standard gauge.
Owns
.58 closed and 14 open cars.
15 interurban passenger, 1 ice, 3 freight and
6 service cars.
and
OFFICERS.—Pres., Percy M. Chandler, Phila. V.-P., F. W. Bacon,
Phila.; Sec., T. D. Murray, Lexington; Asst. Sec., W. J. Devine, Phila.;
Treas., J. Will Stoll. Lexington; Asst. Treas., Jerry W. McMeekin, Lexing¬
ton: Gen. Mgr.. .T. P. Pope.—V. 107, p. 1385, 2476; V .108,
p. 579, 1060;
V. 109, p. 72, 1793; V. 110, p. 360.
(2) Lexington Utilities Co.
ORGANIZATION, &c.—Incorporated in Ky.
on
June 5 1909.
Does ice
and electric-light and power and gas business in Lexington.
Owns a sub¬
stantial interest in the Southwestern Utilities Corp., a holding company
owning all the issued securities of the Gas Pipe Line Corp. and the Sachem
Oil Co., and 70% of the issued securities of the Southwestern Gas Co.
Has assumed the payment of prin. and int. of $861,000
Kentucky Tra..
& Term. Co. 1st & ref. 5s and $750,000 Lexington
Ry. Co. 1st M 5s.
V. 109, p. 1370.
Light and power franchises expire in 1936.
Gas and ice
franchises are perpetual.
Power plant has rated capacity of 10,500 k.w.
Daily capacity of ice-manufacturing plant, 157 tons.
In July 1919 the co. brought out an Issue of $750,000 1st lien & ref.
6%
bonds, proceeds being used to retire floating debt and prior lien bonds,
for construction and for other corporate purposes.—V. 109, p. 1370.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock $100.000—_■—All owned by Kentucky Securities Corp.—
First lien & ref bonds ser, "A"/ 1919
6 g A-O
$750,000 April 1 1929
(un'ltd $50,$100,$500,$1,000/
g
c*tf [Commercial Trust Co., Phila., Pa., Trustee.
Bonds.—Are secured by a mtge. on all the co.'s property.
For further
security back of this Issue see V- 109, p. 1370.
Amount of bonds out¬
standing at any one time is indeterminate.
Bonds of other series may be
Issued under certain restrictions
as
defined in the indenture at not exceed¬
ing 6% and shall stand on a parity with Series "A."
Red. all or in part on
int. date on 60 days' notice at 101 and int.
State taxes not exceeding
the present rates of 6% on income in Mass., $.0045 in Md., $.004 in Ky.,
and $.004 in Penn. will be refunded.
Int. payable at trustee in Phila.
or agency of co. in New York.—V. 109, p. 1370.
any
(3) Lexington Ice Co.
ORGANIZATION, &c.—Incorp. May 1 1917.
Stock authorized and
outstanding, $25,000; all owned by Kentucky Securities Corp.
Made a
50-year lease of plant and business of Consumers Ice & Cold Storage Co.,
of Lexington.
Has entered into contract with Lexington Utilities Co. for
sale of that company's ice output.
„
,
EARNINGS.—For years ending
Cal.
Year—
Gross.
1919
1918
-
Dec. 31:
i
Net.
Taxes.
$21,229
$146,217
178,285
$3,229
3.761
20,982
Fixed Chgs.
$18,000
17,221
Balance.
None
None
ROAD.—Operates 10.55 miles of track from Lewistown to Reedsville and
Junction, with a branch to Burnham.
67 and 85-lb. T rail.
Has 24 passenger cars, 2 work and snow cars.
Lewistown
OFFICERS.—Pres. & Mgr., J. I. Quigley, Lewistown; V.-P., Chas.
Day, Phila.; Sec. & Treas., John E. Zimmermann, Phila.; Asst. Sec., C. A.
McClure, Phila.; Asst. Treas., C. R. Bitting, Phila.; Supt., C. E. Gossard
Lewistown.—V. 88, p. 1128; V. 89, p. 919; V. 96, p. 487; V. 109, p. 1179.
LEXINGTON, KY.
/
KENTUCKY SECURITIES CORPORATION.—A holding company.
ORGANIZATION.—Incorporated
In Virginia on Jan. 23 1911 (V. 92, p.
322) as successor to the Lexington & Interurban Rys. Co. per plan in
V. 92, p. 461.
Owns the entire stock of the Kentucky Traction & Termi¬
nal Co., Lexington Utilities Co. and
Lexington Ice Co.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Common $2,500,000 ($100)
_
Pref
$2,052,287
$2,500,000
cum
($100)
from Jan 11913
6%\
J
Q—J15
2,179.620
See text.
LIMA, OHIO.
WESTERN OHIO RR.—A holding company.
ORGANIZATION.—Incorporated in Ohio on June 7 1910 to take over
under lease the Western Ohio Ry. but lease was canceled
by vote of stock¬
holders on June 28 1915 and the company's electric light and
power plant
at Sidney sold to the Standard Power &
Equipment Co. and all Its other
property and assets to the Western Ohio Railway Co. except the stock of
that company owned.
Holders of com. stock of Western Ohio Ry. had
right to exchange before Jan. 1 1911 their stock for stock of Western Ohio
RR. on baslsof 3 shares of Ry. for one share of RR.
V. 90, p. 1556.
29,278
shares
(1)
were so
exchanged.
Stock auth.,
$1,000,000; Issued, $990,900.
Western Ohio Ry.—A trolley road.
ORGANIZATION.—Incorporated In Ohio
on Oct. 11 1900.
This Is one
a link In the
through car service from
municipalities has private right-of-way.
of the Mandelbaum roads and forms
to Lima.
Outside of
Cleveland
Franchises in towns are for 25 years.
Owns entire common and pref. stock
of the Lima Findlay & Toledo Ry.
V. 83. p. 97, 157, 381.
Has contract
to furnish power until
April 30 1923 to Lima & Toledo Traction, Ft.
Wayne
Van Wert & Lima Traction and Indiana Columbus & Eastern Traction.
Was leased to the Western Ohio RR., by which lt is controlled
through
stock ownership, but lease was canceled In 1915.
See remarks above.
Stockholders on June 28 1915 voted to make the 1st
pref. stock redeema-
to„Pu£ the company In position to retire the stock when the
$2,500,000 1st M. bonds mature on Nov. 1 1921 and arrange a compre¬
hensive financial plan.
Fares and Rates.—Effective
Aug. 1 1918, the co. was auth. to increase
107, p. 403.
On Aug. 15 1918 the I.-S. C. Comm.
freight rates.
On Feb. 27 1918 was auth. by the Ohio P. U. Comm. to sell at 80 $50,000
6% Gen. Mtge. bonds, proceeds to be used for add'ns, exts., and impts.
V. 106, p 1128.
passenger rates.
V.
auth. an increase in
1
APR.,
Interest
Bond
Deferred.—Due to the severe weather conditions during
the co.
winter of 1917 and the resulting increased cost of operation,
itself unable to meet the bond int. due May 1 1918 on its
the
found
1st M.
Payment of same was made on Sept. 1 1918.
V. 107, p. 1288.
Compare V. 106, p. 1797.
The Nov. 1 1918 int. on these bonds was paid
April 30 1919.
May 1 1919 interest was not paid when due, but has since
been paid.
Nov. 1 1919 int. was still in default as of March 27 1920.
bonds.
STOCK AND BONDS—
Common $30,000
Date.
($1)
Outstanding.
Interest.
Maturity
$30,000
—-
-
($100) 7% cum
476,000 Apr*17.1#%
($100) 6% cum
450,000 JIy'14,1 X%
1st M $3,000,000 g ($1,000) f 1901
5 g M-N
2,500,000 Nov 1 1921
$26,500 per m
c*&rtfUnt. at Cit. Sav. & Trust Co., Cleveland.
I
Trustee, or First National Bank, N. Y.
Collateral
trust
mortgage/ 1910
6%
24,000 July 1 1930
$500,000
tf (Cleveland Trust Co., Trustee.
LF4T 1st mtge $600,000/ 1905
5 g J-J
324.000 July 1 1925
gold ($1,000)
ctf{lnt. at Citizens' Sav. & Trust Co., Cleve1
land, Trustee, or in New York.
General M $500,000.
1918
6%
See text
Bonds.—The West Ohio 1st M. bonds have no sink. fd. and bonds are no t
subject to call.
$476,000 have been canceled.
See V. 76, p. 160, for agree¬
ment among bondholders.
Coll. tr. bonds are convertible into 1st pref.
1st pf $500,000
2d pf $500,000
1987
stock
and
secured by
No sink, fd.;
are
converted.
65
ELECTRIC 1 RAILWAYS
20.,
deposit of $24,000 1st 5s.
$476,000 have been
red. on Nov. 1 1921 at 110.
As bonds are con¬
the 1st 5s which are collateral will be
verted, proportionate amounts of
canceled.
Tol. bonds have a sinking fund of $10,500 per ann.,
which began in 1911.
Are subject to call at 105.
$76,000 have been re¬
tired.
V. 80. p. 2344.
Dividends.—On 1st pref. quar. divs. were paid regularly to and incl.
Apr. 1917.
None since.
On 2d pref. first div., 1H%, paid Oct. 1910,
and same amount quar. to and incl. July 1914.
None since.
EARNINGS.— For year ending Dec. 31:
Gross
Net (after
Preferred
Balance,
Year—
Earnings.
Taxes).
Interest.
Dividends.
Surplus.
1919
..$967,257
$250,302
$163,813
-_
$106,489
841,364
187,025
163,402.
----23,623
803,814
159,625
161,747
$8,330 def.10,452
1916
749,863
264,314
165,739
33,320
65,259
ROAD.—Operates from Lima through Wapakoneta and St. Marys to
Ceiina; from St. Marys to Minster, and from Wapakoneta to Piqua; a total
of 82.01 m.; also Lima to Findiay, 31.97 m.; thus completing a through line
to Toledo.
Total, 113.98 m., single track.
Standard gauge.
Owns 18
pass, motor cars, 7 freight motor cars and 66 freight and express trail cars.
OFFICERS.—Pres., F. D. Carpenter, Lima; V.-P., E. F. Gould, Cleve.;
Sec. & Treas., H. C. Lang.—V. 104, p. 1450; V. 99, p. 895; V. 105, p. 73;
V. 106. p. 1128. 1797, 1902; V. 107. p. 83, 403, 1288, 1748.
The Lima Findiay &
-
—
In the latter
part of 1912 acquired control of the Garland Power & De¬
velopment Co., which controls water powers on Ouachita River, 45
miles
Hydro-electric developments with a capacity of 28,060
contemplated.
V. 95, p. 1746.
In Feb. 1916 increased the com. stock from $1,500,000 to $2,000,000 to
acquire the assets of the Merchants' Lighting Co., a controlling Interest in
the Central Heating & Mfg. Co. and provide for further acquisitions, exts..
See.
$411,700 of the new stock was sold at par: balance held in treasury.
Fare Increase.—On March 23 1920 was auth. by the Little Rock City
Council to increase fares from 5 to 6 cents.
Y. 110, p. 1526.
In Jan. 1920 the co. issued $1,000,000 1-yr. 7% notes proceeds being
used to retire $600,000 6% notes due at that time and to pay for impts.,
&c.
V. 109, p. 2439; V. 110, p. 167, 360.
from Little Rock.
h
p. are
First
Outstanding.
Maturity.
$1,911,700 June '17,3%
750.000 July '18, 3%
semi-ann
6 J-J
gold/ 1903
5 g A-O
1,826,000 Apr 11933
c* (Interest at Com. Germania Trust & Savings
$2,000,000
mtge
Interest.
Date.
STOCK AND BONDS—
Common $2,000,000 ($100) —
Pref 6% cum $750,000 ($100)
($1,000)
1
Bank, New Orleans, Trustee.
Refunding and extension mtg f 1908
6 g A-0
1,592,500 Apr 11938
$5,000,000 ($500 and $1,- Int. at Bank of Commerce & Trust Co.,
000) gold
c*l
Memphis,Trustee.
1-yr. notes, $1,000,000 ($100/ 1920
7 g J-J
1,000,000 Jan. 1 1921
$500 & $1,000) g
c*tf\Inter-State T. & B. Co., N. O., La., Trustee
Stock.—Pref. stock is redeemable at 110 and accrued dividend.
$88,300
stock Is held in treasury.
Bonds.—First mortgage bonds are subject to
common
call
on
60 days' notice on
Interest period at 107)^.
Sink, fund of ^4 of 1% of outstanding bonds
1908 to 1917; 1% thereafter.
On April 1 1920 $174,000 were held in sk. fd.
The refund. & extension bonds cannot be called; $2,000,000 are reserved to
any
retire 1st 5s, $500,000 are pledged as part security for the $1,000,000 1-yr.
7% notes and remainder for 60% of cost of additional property if net
for 12 mos. previous have been twice the annual int. charges on outstanding bonds, Incl. those to be issued.
A sinking fund of M of 1% on out¬
standing bonds which began Aug. 1 1913 is to be invested in these bonds at
not higher than a 43^ % basis, bonds to be kept alive in fund.
On April 1
1920 $60,500 were held in sinking fund.
The first $1,000,000 issued as 6s;
rate on subsequent bonds to be at discretion of board of directors, but not
exceeding 6%.
See full particulars regarding bonds, property, &c., in
V. 87, p. 414.
Notes.—The 1-yr. 7% notes in addition to being a direct obligation of the
co. are further secured by $500,000 ref. & ext. 6% bonds of the co.
No
new mtge. having a prior claim to these notes may be created while these
notes are outstanding without incl. said notes under the lien of the mtge.
Int. payable at office of trustee or First National Bank, N. Y.
Dividends.—On pref., 6% per annum paid up to and including July 1918.
none since.
On com., 1906, 2%; 1907, 4%; 1908, 4j-^%; 1909, 8%.
In
earns,
1910, 8%.
In 1911, 20%.
In 1912 to 1915, 10%.
In Jan. 1916, 1%;
July, 3%; Dec. 30,2%. In June 1917,3%; Dec. 1917, none(V. 106, p. 396).
EARNINGS.—For cal. years.
Gross.
Net aft. Tax.
Int., &c.
Surplus.
.--$1,696,743
$543,133
$246,340
$296,793
1,436,070
264,558
230,223
34,334
ROAD.—Operates 41.094 miles of track, including 13.285 miles of doubletrack.
Rails, 70-lb. and over.
26 open, 55 closed, 22 semi-convertible and
7 work cars; total, 110. Operates Forest Park, located about 6 miles from
the centrs of the city.
OFFICERS.—Pres., D. H. Cantrell; V.-P. & Treas., A. Brizzolara;
Gen. Mgr., Chas. J. Griffith; Sec. & Aud., W. J. Tharp.—V. 109, p. 676,
2439; V. 110, p. 167, 360, 1526.
Year—
NEB.
LINCOLN,
1919
trolley road.
ORGANIZATION.—Incorporated in Nebraska in 1909.
Is a consoli¬
dation of the old Lincoln Traction and the Citizens' Ry. Co.
V. 88, p. 506.
Holders of the old Lincoln pref. stock ($700,000) received 110 In the new
bonds.
Holders of th« old Lincoln com. ($330,000) received, for every share
of old, two shares of new pref. and four shares of new common.
Holdert
of Citizens' Ry. stock ($415,000) received 100% in new pref. and 80% in
THE LINCOLN TRACTION CO.—A
new common.
Cancellation of Common Stock Ordered.—The div. due Feb. 1 1918 on the
pref. stock remaining unpaid, several of the holders of pref. stock brought
against the company, its officers and several common stock share¬
holders, with the result that the Nebraska Ry. Comm. in June 1918 ordered
that the common stock issue (made at time of consolidation with Citizens
Ry.) be canceled and that $198,228 be replaced in the co.'s treasury as divs.
wrongfully paid on the common stock.
The Oomm.'s order forbids pay¬
ment of any future com. div.
It allows an additional pref. stock issue of
$281,200 to cover addns. and betterments, which may be sold at 85, but
1918
LONG
suit
requires that $98,538
of the proceeds be turned back into the fund for
maint. and deprec., from which it was taken for other purposes.
The co.
appealed to the Supremo Court, which on March 1 1919 reversed this deci¬
sion and remanded the case.
Compare V. 106, p. 2757.
On Jan. 3 1912
Nebraska Supreme Court affirmed the decision of the lower court quo
warranto proceedings by the State, refusing to order the cancellation of
$1,500,000 stock, it having been claimed the Same was "pure water."
V.
94, p. 912; see also V. 93, p. 1363.
Fares.—In Jan. 1919 the Neb. Ry. Comm. denied the co. auth. to
increase fares from'5 to 6 cents and in addition to collect a 1-cent charge on
all transfers.
V. 108, p. 268.
In April 1919 the co. filed an amended
petition with the Nebraska Ry. Comm. for auth. to increase fares to 9 cents
between Lincoln and Havelock, and to 7 cents between Lincoln and other
suburban towns.
The co. also asked for the establishment of a zone sys¬
tem.
V. 108, p. 1721.
On July 29 1919 the U. .S Circuit Court of Appeals
issued -a temporary injunction restraining the Nebraska Ry. Comm. from
enfracing its orders of rates and penalties against the company.
The Court
autrh. a 6-cent fare on the co.'s lines pending final hearing.
V. 109, p. 577
Compare V. 107. p. 2098.
Effective Jan. 1 1920 the co. was auth. by the
Neb. R. R. Comm. to increase fares from 6 to 7 cents for a period of 6
mos.
pending the fixing of a permanent rate.
Tickets are to be sold at
4 for 25 cents and 7 children's tickets for 25 cents.
Fares between Lincoln
and suburban towns were increased (from 7 to 8 cents.
V. 110, p. 465. In
April 1920 applied for auth. to sell three tickets for 20 cents.
The $250,000 old Lincoln Traction Co. Mtge. 5% bonds due Jan. 1 1920
were retired at maturity.
The co. issued 1-year notes for sufficient funds
these notes.
to meet
EARNINGS.—For
BONDS—
Date.
Interest.
Outstanding.
Maturity.
($100)--- ——
—$1,652,000 Dec'16,1 %
($100) 6% cu
Q-F
1,186,700 Nov '17,134
$1,500,000 gold/ 1909
5 g J-J
1,250,000 Mar 1 1939
c&rtf (Interest at New York Trust Co., trustee.
LONG
1921
250,000
One-year notes
1920 ------ — Bonds.—Remaining $250,000 new Lincoln Traction
Co. bonds are reserved
Subj. to call at 110.
Dividends.—1J^% paid quar. on pref. from May 1 1909 to Nov. 1 1917,
inclusive.
Feb. 1918 div. passed.
On common, 2% paid Sept. 1912.
1% paid Mar. 15 1914 and 1% paid Sept. 1 1914. In 1915, 3%; in 1916,
for prior
5
liens.
Earnings.—For
Year—
cal. years:
Gross.
———
,
-----
$207,758
152,167
54.59 miles of track.
OFFICERS.—Pres., w. E. Sharp; Treas.,
ShawV. 110, p. 465, 1642.
OMAHA
Is
LINCOLN &
Balance.
$50,306
7,510
$157,453
144,657
S. H. Burnham; Sec., O. J.
___
from
'
lnt.&Taxes.
Net.
.$1,061,008
1,004,658
1919
1918
ROAD-Owns
'
7 miles
Of the
mentioned, % of a mile is an extension into the main business
•entre of University Place.
Standard gauge.
70-lb. T rail. Franchises,
99 years and perpetual.
Effective March 15 1919, was auth. by the Neb.
Ry. Comm. to increase fares from 5 to 6 cents.
V. 108, p. 1275.
Stock
auth., $2,250,000
($100); outstanding, $200,000.
In Dec. 1916 the
Nebraska RR. Comm. auth. the company to issue $2,000,000 common and
$500,000 pref. stock and $2,500,000 bonds for the completion of the line
from Omaha to Lincoln, but not including the extension to Beatrice.
EARNINGS.—For 12 mos. ending Dec. 31 1918, gross, $25,352; net,
after taxes, loss, $9,502.
In 1917, gross, $27,786; net, after taxes, loss,
7 miles juat
OFFICERS.—Pres., Harvey Musser; Sec., J. C. Musser; Treas. & Gen.
J. M. Bramlette; Aud., O. J. Shaw.
Office, 321 Terminal BIdg.,
Lincoln.—V. 103, p. 844; V. 104, p. 73; V. 108, p. 1275.
LITTLE
LITTLE ROCK RAILWAY &
ROCK, ARK.
ELECTRIC CO.
(see under New Orleans) owns
80.20% of pref. stocks.
84.61% of com. and
,
ORGANIZATION.—Incorporated in Arkansas on March 17 1903 and is a
consolidation of the Little Rock Traction & Electric Co. and the Little
Rock Edison Electric Light & Power Co.
Operates all street railways in
Little Rock and Pulaski Heights and all the electric lighting and power
business in Little Rock, North Little Rock and Pulaski Heights.
Railway
franchise extends to Sept. 28 1951; lighting franchise unlimited in time.
$81,693;
oper.
exp.,
&c.,
$149; interest, &c., $25,249; bal.,
CITY, N. Y.
In¬
in New York. Owns one-half the stock (the Interborough Rapid
half) and bonds of N. Y. <fc L. I. Trac. and
Long Island Elec. Ry.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
8tock $25,000 ($100)
All owned by Long Island RR.
Transit Co. owning the other
-
Coll trust bonds
1905
4H g
None
1945
ntf/U. S. Mtge. & Trust Co., N. Y., Trustee.
$10,000,000]
gold, guaranteed
Bonds.—Are
guaranteed, principal and interest/by Long Island RR.
OFFICERS.—Pres., A. J. County; V.-P., C. L. Addison; Sec.. Wm.
(1)
Island Electric Ry.—A t,rolley road.
Interborough Rapid Transit Co.,and
Long
In .Jan.
F.
Walker.—V. 83, p. 890.
1906 control passed to the
the Long Island Consolidated
the stock and bonds.
Electrical Companies, each owning one-half
ORGANIZATION.—Chartered March 13 1897 as New York & North
Shore Ry.
On Oct. 11 1899 was consolidated with the former Long Island
Electric Ry., new company having $2,100,000 capital stock and $2,100,000
On May 7 1902 the lines north of Jamaica were sold under fore¬
closure to the Queens Ry. Co., which company was then merged in the
bonds.
York & Queens County Ry.
On Aug. 28 1903 old name of "Long
Island Electric Ry." was resumed.
In Aug. 1909 stock was reduced from
$2,100,000 to $600,000 by cancellation of $1,500,000 stock originally Issued
to represent the piece of road which subsequently became the Queens Ry.
and now forms part of the N. Y. & Queens County Ry.
V. 89, p. 42, 593.
Fare Increases.—In Dec. i919 was auth. by the P.' S. Comm. to increase
the one-way fare between Jamaica and Far Rockaway from A0 to 15 cents
and between city lines and Belmont Park from 5 to 10 cents.
V. Iu9,
New
p.
2263.
'
Stock $600,000
L
I
Elec
1st
($1,000)
i
/.
'
Date.
($100)
M
.
Interest.
-
..
.
.
Maturity.
$600,000 —
600,000 June 1 1925
Outstanding.
5 g J-D
c&r.ntf(Hamilton Trust Co., Brooklyn, Trustee.
(
Interest paid by Treasurer, New York.
$600,000/ 1895
EARNINGS.-—For years ending Dec. 31:
Year—
Gross.
Net {aft. Tax.)
Olh. Inc.
Cal.
Int.,Rcnts, &c.
Balance.
$226,994
def.$17,407
$213
$46,927
def.$64,121
251.124
21,280
213
47,278
def. 25,785
Latest Earnings.—For cal. year 1919, gross, $269,105; net, before taxes,
def. $3,651.
In 1918, gross, $226,994; net before taxes, def. $2,134.
ROAD.—Comprises 25-23 miles of track on 16.30 miles of road from
Crescent Avenue. Brooklyn (at the terminus of the Kings County Elevated),
to Jamaica. Hollis and Queensland from Jamaica to Far Rockaway.
36
1918.
1917—
passenger cars
eg 511
Mgr..
Amer. Cities Co..
ISLAND
STOCK AND BONDS—
BEATRICE RY.
56 miles between Lincoln and Omaha, of which
Lincoln to Bethany Heights is completed and in operation.
to construct
gross,
corporated
STOCK AND
$1.000)
1917,
year
THE LONCJ ISLAND CONSOLIDATED ELECTRICAL COS.
ORGANIZATION.—Entire stock is owned by the Long Island RR.
Common $2,000,000
1st mortgage
cal.
$83,348; net, def., $1,655; other income,
def., $26,756.—V. 102, p. 2254.
Brown; Treas., Geo. A.
Pref $1,500,000
BRANCH, N. J.
MONMOUTH COUNTY ELECTRIC CO.
ORGANIZATION.—Incorporated April 1 1901 as a reorganization of
the Atlantic Highlands Red Bank & Long Branch Electric Ry.
In April
1903 was granted a 45-year franchise to operate in Long Branch, in con¬
sideration of which the town Is to receive H of 1% of gross receipts.
Receivers—Default.—On April 20 1916 Charles F. Sexton of Long Branch
and Wm. G. Boteler of Red Bank were appointed receivers.
Int. on bonds
has been in default for some time.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock $500,000 ($50)-$325,000
First
mtge
$500,000
($1001 1901
4 g J-J
500,000 Apr 1 1951
and $1,000) gold
c*/Int. at Hamilton Tr. Co., Brooklyn, Trustee
Other debts. Dec 31 1916
153.417
ROAD.—Operates in and between Red Bank and Long Branch and from
Red Bank to Oceanic.
Total track, 17.71 miles.
and 8 others.
V. 102, p. 1540; V. 109, p. 888, 2263.
81) June 20 1905 control Island Traction.—A trolley road,
New York & Long was purchased jointly by the Interborough
n
Rapid Transit Co. and the Long Island Consol. Elec. Cos.
V. 80, p. 2622.
ORGANIZATION.—This was formerly the MIneola Hempstead & Freeport Traction (incorp. Feb. 27 1899), but name changed as above Sept. 22
1902, and stock increased from $125,000 to $1,000,000.
Fare Decision.—On June 15 1912 P. S. Comm., 2d DIst , decided that
company Is not obliged under Its franchise to limit itself to a 5-cent fare
between Hempstead and Belmont Park.
V. 94, p. 1696.
For Statement by V. P. & GerU Mgr. W. O. Wood showing Co's. Condition.
—See V. 109, p. 676.
On Jan. 8 1918 the Court of Appeals sustained the decision of the Ap¬
pellate Division reversing that of County Judge James P. Nieman on June 22
1914, which held that the company, under its franchise, could not charge
more than 10 cents for a 10-mile ride. (V. 99, p. 407.)
ELECTRIC
66
19 8
Date.
STOCK AND BONDS—
Common,
Outstanding.
Interest.
goldf
During 1912
LastUiv.
2750.000
....
.
250,000 No div. yet
$750JXKL ($50)
Pref 5% cum $250,000 ($50)-.
First mtge $1,000,000
1902
1.000.000 Nov 11942
4H gM-N
/1nterest paid by Treasurer, New York.
(Citizens' 8av. & Tr. Co.. Cleveland. O..Trua.
Bonds.—Are sublect to call at 107 on 30 days' notice, but no sinking tund.
EARNINGS.—For years ending Dec. 31:
Year—
Gross.
Nettaft.Tax.) Oth. Inc. Int.,Rent, &c.
Deficit.
$507,629
$33,446
$584
575.614
$41.584
($1.000)
1917
Latest
c&r
-
n tf
470.199
69.657
1.340^
71,578
581
Earnings.—For cal. year 1919, gross. $568,490. net before taxes,
$33,683.
In 1918, gross, $507,628; net, before taxes, $33,406.
ROAD.—Operates an electric line connecting Mlneola, Hempstead and
Freeport, 7.84 miles.
Also operates line from Hempstead west 5.58
miles to Queens, where connection is made with the tracks of the Long
Island Electric Ry. Co.
Also a line 17.01 miles long from Freeport westerly
via Rockville Centre, Lynbrook and Valley Stream, to a connection with the
Kings County Elevated Ry. at Brooklyn.
Also a line from Queens to
Mlneola via Jericho Turnpike, 5.86 miles.
Total, 36.29 miles.
Total,
Including second track, 41.31 miles.
36 passenger and 8 other cars.
OFFICERS.—Pres., C. L. Addison, Penn. Sta., N. Y.; V.-P. & Gen.
Mgr., W. O. Wood, Long Island City, N. Y.; Sec. & Treas.. Wm.F Brown.
—V. 102, p. 1541; V. 107, p. 1101; V. 108, p. 1165; V. 109, p. 676, 1462.
NEW YORK & OUEENS COUNTY RY.
32,048 shares out of total issue of 32,350 is owned by the Interborough
Rapid Transit Co., which also owns one-half of the stock of the Long Island
Electric Ry. and the New York & Long Island Traction.
ORGANIZATION.—Incorporated June 29 1896 and reorganized on
June 30 1899.
Purchased the various lines of railroad in Long Island City
known as the Newtown Ry. Co., the Riker Ave. & Sanfords Point RR.. the
Steinway Ry., the Long Island City & Newtown Ry. and the Flushing &
College Point Ry.
In May 1902 the Queens Ry. was consolidated with it,
and thereupon increased its stock from $2,500,000 to $5,000,000.
The
1967-8
1987-
Queens Ry. succeeded to the property sold at foreclosure of the New York
& North Shore Ry.. comprising a line of 6 miles from Flushing to Jamaica,
with franchises for lines between Flushing and College Point, Flushing and
Bayskle and Manhasset.
V. 74, p. 1197.
The new Queensboro Bridge across Blackwell's Island was opened In
1909.
On Sept. 19 1909 the City of New York's municipal trolley across
the bridge began operation.
The round trip fare is 5 cents.
On Dec. 16
1909 New York & Queens County Ry. was granted a permanent franchise
to run cars over the bridge.
Operation began on Feb. 5 1910.
V. 90,
p.
373.
Through passengers only are carried across the
is charged.
Strike.—See New York Rys. on a subsequent page.
bridge and no extra
rare
Fares.—In July 1918 applied to the Board of
increased fares. V. 107, p. 83.
i
Estimate and Apportion¬
ment for
STOCK AND
Stock
Dale.
BONDS—
$5,000,000
Interest.
Outstanding).
$3,235,000
($100)
Maturity
.....
Flushing & College Point 1st! 1895
5 g J-D
50,000
1925
mortgage $50,000 gold
/New York Trust Co., Trustee.
Newtown Ry first mortgage/
1894
5 g J-D
150,000 Dec 1 1924
$150,000 gold
[New York Trust Co., Trustee.
Steinway Ry first mortgage] 1892
6 g J-J
1,500,000 July 1 1922
$1,500,000 ($1,000) g
c*/Int. at Guaranty Tr. Co., N. Y. City. Trus.
New York & Queens County f 1896
4 g A-O
1,300,000 June 29 1946
[Vol.
RAILWAYS
acquired the right of way and all rail lines and equipment of
purchased the property of the Ontario
the Pacific Electric Land Co. and
&
San
Antonio Heights
RR.
Operates under agreement over the
$3,000.000/Mercantile Trust Co., New York, Trustee.
,...{
Interest at office of company. New York.
$10,-1 1906
4 g M-N
See text
Nov 1 1936
gold ($1 000)-.-c*(Windsor Trust Co.. New York, Trustee.
gold $1,000 each..-
000,000
*5.293 778
and accounts owing associated companies
Current liabilities Dec. 311919
*
Includes $5,208,343 bills
-
-
Of the new $10,000,000 mtge.. $2,086,827 are deposited as collateral for
from Interborough Rapid Transit and $3,065,000 are reserved for
prior liens.
No sinking fund and bonds are not subject to call.
Under the
NT. Y. & Queens Co. 1st cons. M. there were originally $2,500,000 bonds out¬
standing, but the company having defaulted In payment of int., reorganiza¬
tion was made, under which the holders surrendered $1,200,000, interest
was reduced to 4%. and the Mercantile Trust Co., N. Y., was made the new
trustee.
The said bonds are redeemable at 105 and int.
V. 69, p. 906.
ROAD.—The system, with the Queens Railway, embraces 71.87 miles of
trolley track, Including main line, 37.42 miles; second track, 33.18; sidings,
1.27
Rails 70 to 116 lbs., standard gauge; 203 pass. CArs. 32 others.
REPORT.—For cal. year 1919 and fiscal years ending June 30:
Year—
Gross.
Net.
Other Inc. Lni.Taxes.Ac. Deficit.
loans
$l,136,346de/$188,934
$7,761
$305,722
$486,895
1,044,334 def161,988
947,659 <tefl92,963
7.284
362,251
516,954
1,699
357,124
548,389
1.273,584 <fef30,821
2.843
356.423
384,401
OFFICERS.—Pres.. W. O. Wood; V.-P., W. L. Pepperman: 8ec.. R.
M. Fisher; Treas., J. H. Campbell.—V. 107, p. 83. 906.402; V. 109, p. 888.
1918-19
MANHATTAN
-
AND
QUEENS TRACTION CORPORATION.
Receivership.—On Nov. x5 1917 Arthur C. Hume and William R. Bcgg
appointed receivers by Judge Chatfield in the U. S. Dist. Court for the
Eastern Dist. of N. Y.
In Nov. 1917 a judgment against this company for
were
$1,158,522 was awarded the Gas & Elec. Securities Co. on account of unpaid
promissory notes.
ORGANIZATION.—Incorp. In N. Y. on Nov. 4 1912 to take over the
rights and property of the South Shore Trac. Co. in New York City (see
and also under Manhattan & Jamaica Ry. in V. 95. p.
1207. 420; V. 94. p. 1696.)
Asked Public Service Comm. for permission to issue $1,500,000 stock and
$1,600,000 1st M. 5% bonds, but on March 10 1914 the P. 8. Comm. auth¬
orized only $765,000 capital stock and recommended the Issue of $807,000
bonds at 85.
No stock outstanding; only $20,000 subscription stock.
Action on the bond issue was deferred until the company should have filed
under Patchogue,
its
proposed mtge. for an auth. amount of $10,000,000, of which the co.
proposed presently to issue said $1,500,000 with the permission of the
P. 8. Comm.
V. 96, p. 790; V. 98, p. 523.
Fare Decision.—On 8ept. 10 1918 Judge Chatfield In the Federal Court
at Brooklyn, N. Y., refused to recognize the receiver's claim for a 7-cent
fare.
V. 107, p. 1101.
On Oct. 15 1919 Justice Edward R. Finch granted
an alternative writ to Corporation Counsel Burr prohibiting P.
S. Com¬
missioner Nixon from taking any action on the applictaion or the receivers
for an increase in fares.
V. 109, p. 1527; see also V. 109, p. 1366.
On
Jan. 23 1920 this action was upheld by the Appellate Division of the Supreme
Court.
V. 110, p. 465.
EARNINGS.—For years ending June 30:
12 Mos.—
Gross.
Net,aft.Tax Oth.Inc. Rents.
Interest.
Sur.orDef
$270,150
$25,535
$1,876
$24,298
$94,641
def.$91,529
262.930
36,161
1,724
21.987
92.733
def.76.835
ROAD.—Has a franchise in the City of New York to operate a street
surface railroad over the Queensboro Bridge from the Manhattan terminal
thereof, along Thomson Ave., Hoffman Boulevard, and other streets and
avenues in the Borough of Queens to the boundary line between the City
of New York and the County of Nassau, together with the right to operate
upon the Queensboro Bridge.
The line has been completed and cars are In
operation to the Intersection of Sutphin Road and Lambertville Ave. in
Queens.
An additional 3.3 miles of road from this point to Central Ave.
and Springfield Road was to have been completed by Aug. 23 1917, but
owing to war conditions, an extension of time was granted by the Board
of Estimate of N. Y. City.
In June 1918 Judge Chatfield in the U. S.
Dist. Court for the Eastern Dist. granted a permanent injunction restrain¬
ing the city from forfeiting the contract of the co. for failure to complete
this line.
V. 106, p. 2450.
On Feb. 27 1920 the U. S. Circuit Court of
Appeals reversed this decision.
V. 110, p. 970.
The extension from the
L. I. RR. station at Jamaica to Lambertville Ave. was completed April
26 1919.
Total miles single track equivalent, 21.
OFFICERS.—Gen. Mgr., B. Walter Duncan; V.-Ps.t R. F. Carbutt and
H. B. Weaver; Sec. & Treas., Lindley G. Coleman; Asst. Sec. & Asst.
Treas., F. H. Adler.
V. 109, p. 1366. 1527; V. 110, p. 465, 970.
LOS
PACIFIC
ANGELES,
CAL.
ELECTRIC RAILWAY.
directors' shares is controlled by Southern Pacific Co.
ORGANIZATION.—Incorp. in California on Sept. 1 1911 as a merger
of the following subsidiaries of the SouthenfPacifie Co. (V. 93, p. 667):
Pacific Electric Ry.
San Bernardino Valley Traction Co
Los Angeles Interurban Ry.
Redlands Central Ry.
Los Angeles & Redondo Ry,
San Bernardino Interurban Ry.
Riverside & Arlington Ry.
Los Angeles PacificJCo,
All the stock except
Riverside Rialto & Pacific RR.—
service only.
Fares.—In Sept.
1918 was auth. by the Cal. RR. Comm. to in¬
crease fares by 20%
on suburban lines, the new ratas being based on a
zone system.
V. 107, p. 1101.
In Dec. 1918 the Comm. reaffirmed this
decision except that the minimum fare charge was reduced from 10 to
5 cents.
V. 107, p. 2290.
In May 1919 the co. applied to the Cal. RR.
Comm. for auth. to make various increases in rates of fare, for details see
V. 108, p. 1937.
Comnare V. 108, p. 1275.
Wages, Strike, &c.—See V. 109, p. 1180.
See also V. 110, p. 1415. F3
passenger
BONDS—
Date.
Interest.
Outstanding.
Maturity.
$100,000,000
($100)
-—.$34,000,000
1911
5 M-S
31,950,000 Sept 1 1961
mtge $100,000,000
gold see text
-__.c*-tf Int. atU. S. Mtge. & Tr. Co., N. Y., Trustee
1902
5 g J-J
8,374,000 Jan 1 1942
Pac El Ry 1st mtge $10,000,000 gold ($1,000)
c.ntf Int. at Union Trust Co.. San Fran.. Trustee.
1898
5 g J-J
950,000 Jan 1 1928
Los Ang & Pas El Ry M $1,000.000 g guar ($1,000) c* Int. at 111. Tr. & Sav. Bk., Chic.. Trustee,
or at Chase Nat. Bank, New York.
Can be called at 105—ntf
1910
6 F-A
223,000 Feb 1 1935
Ont A San Ant Heights 1st M
$1,000,000 ($1,000) sf.ntf Int. at Southern Tr. Co., Los Ang., Trustee.
1900
4 g J-D
Pas & Mt L 1st M $500,000
480,000 June 1 1930
gold ($1.000)
c*.ntf Int. at Union Trust Co.. San Fran.. Trustee.
1901
5 g J-J
480,000 July 1 1941
Cal Pacific Ry 1st mtge gold
($1.000) guar
c.ntf, Int. at Co.'s office in N. Y. & Chase Nat.Bk.
1898
5 J-D
10,000 June 101928
Los Angeles-Pacific RR first
mort gold $1,000,000c». ntf Int at Oitiz. Tr. & S. Bk., Los Ang..Trustee.
1901
5 A-0
1,465,000 Apr 1 1931
Los Ang-Pac RR 1st con mtge
$1,500,000 g ($1,000)_.ntf lint, at Crocker Nat. Bank. San Francisco.
Los Ang Her B & Red 1st Ml
1902
5 g M-N
.
74,000 May 1 1942
$500,000 gold ($1,000).ntf/Title Ins. & Tr. Co.. Los Ang., Trustee.
Los Angeles-Pacific RR first/ 1903
5 g M-S
3,104,000 Sept 1 1943
and
ref mtge
$6,000,000/Int. at Los Angeles Tr. & Sav.Bk., Tr., or at
gold ($1,000) sf
c*.ntf I
U. 8 Mtge. & Trust Co., N. Y., Co-Trus.
Los Angeles Pacific Co gen/ 1906
5 g J-J
1,096,000 Jan 2 1940
consol
mtge
$12,500.000/Int. at Union Trust Co.. San Fran., Trustee,
gold ($1,000) sinking fundi
or at Farmers'& Merch. Nat. Bank, Los.
c*.ntf (
Angeles, or Chase Nat. Bank, New York.
Los Ang-Pac Co 1st ref mtge 1 1910
4 g J-J
8,298,000 Jan 1 1950
$20,000,000 g ($1,000) c*tf /Union Trust Go. of San Fran., Trustee.
Los Ang & Redondo 1st mtge/ 1902
5 g J-J
410,000 Jan 15 1932
$500,000 g ($1.000)_c*_ntf/Int. at Union Trust Co.. San Fran., Trustee.
(and RR. co's office. N. Y. City.
Riverside & Arlington 1st Ml 1899
4 F-A 14
200,000 Aug 14 1919
$200,000 gold
ntf/Int. at Union Trust Co.. San Fran., Trustee.
8an Bernard Vail Trac 1st Ml 1901
5 A-O
44,000
Oct 1 1931
STOCK AND
Stock
First
ref
o*_ntf /Title
gold $250,000
sink fund
Tr. Co., Los Ang., Trustee
5 g M-S
750,000 Sept 1 1933
Los Ang. Tr. & S. Bk. of Cal..Trustee
Ins. &
San Bernardino Valley Tr 1st]
1903
A ref mtge $1,000,000 gold (Int. at
($1.000)c*&r.ntfJ
6 F-A
50,000 Aug 1 1919
Ins. & Tr. Co., Los Ang., Trus.
sink fund-- ntfl
Int. at First Nat. Bank, Redlands Cal.
Redlands 8t Ry 1st M gold]
1901
5 M-S
27,000 Sept 1 1931
$160,000
ntf (Title- Ins. & Tr. Co.. Los Ang.. Trustee.
Redlands St Ry 1st M g $50.-1
1899
000
($1,000, &e)
redeem/Title
at par;
no
)
first consol mtg
First & refunding mtge,
110.
Int. at First Nat. Bank, Redlands, Cal.
Central Ry 1st Ml
1907
5 J-J
44.000 July 1 1937
gold $500,000 ($1.000)-ntf/Int. at Los Ang. Tr.&S B.of Cal.. Trustee.
Redlands
BONDS.—Pacific Elec. Ry. Is! ref. mtge. are to provide funds to retire
underlying bonds; also for acquisitions and for corporate purposes. Bonds to
be fixed at time of issue by direc¬
tors, not exceeding, however, 5% per annum.
The bonds are issued in
series. Series "A" being the only series issued.
Denom. Series "A" $1,000
—other series, $1,000, $500 and $100.
Sinking fund $10,000 per year.
Series "A" Is subject to call from Sept. 1 1916 at 110 and int.
Other series
subject to call since Sept. 1 1916 at price to be fixed by board of directors.
bear Interest at such rate or rates as may
Pacific
prior
Elec.
Issues.
Ry.
Is*
Sinking
Mtge.—A sufficient amount is reserved to retire
fund is $5,000 per annum, commencing Jan. 1
then $10,000 per annum to Jan. 1 1917; $15,000 per
to Jan. 1 1922;
$20,000 per annum to Jan. 1 1927; $25,000 per
to Jan. 1 1932; $30,OOO per annum to Jan. 1 1937 and $35,000 annu¬
1907, for 5 years;
annum
annum
ally thereafter, said sinking fund to be used in purchase of the bonds, but
securities if bonds cannot be obtained at par.
fund may be invested in other
Los Angeles A Pasadena 1st Mtge.—Bonds bear the guaranty of the Los
Angeles Ry. by end.
Sinfc. fund of $10,500 per year out of net earns, from
Dec. 1 1908 to and incl. 1926; callable at 105 on any int. date.
Pasadena A Mt. Lowe bonds are guar. p. & I. by both Los Angeles Ry.
and Los Angeles & Pasadena Elec. Ry.
A sinking fund for those bonds be¬
gan 10 years from date of bonds of $5,000 per ann. for first 5 years, $7,500
per ann. for second 5 years, $10,000 per ann. for next 5 years and $12,500
per annum for remaining 5 years.
Red. at 104 and interest.
California Pacific Ry. Is/ Mtge. is for no stated authorized amount, but
Is limited to $20,000 per mile of completed track.
No sinking funds and
bonds cannot be called. Guar. p. & 1. by Los Ang. Trac. Co.; see V. 75,Jp.76.
Title Insurance & Trust Co.. Los Angeles, Trustee.
Los Angeles-Pacific RR. Is/ Mtge.—Red. on any int. date at 105 and int.
Sinking fund began June 10 1908 until June 10 1926, $10,500 per year out
of net income only.
Int. also payable at Illinois Tr. & Sav. Bank, Chic.,
and Chase Nat. Bank, N. Y.
Los Angeles-Pacific RR. Is/ Cons. Mtge.—Not callable.
Sinking fund
began April 1 1911 and retires $10,500 annually (out of net earns, only) to
and incl.
Los
April 1 1929. Citizens' Trust & Sav. Bank, Los Angeles, trustee.
Angeles Hermosa Beach A Red. Ry. Is/ Mtge.—Int. payable at Crocker
Nat. Bank. San Fran.
Sink, fund began May 1 1913 and retires $10,500
(out of net income only) to and incl May 1 1942.
Not callable.
Angeles-Pacific RR. Is/ & Ref. Mtge.—Suificient bonds are reserved to
retire prior liens.
A sinking fund began in 1908, to which $50,000 per ann,
is payable first 5 years, $60,000 per ann. next 5 years, $70,000 per ann.
next 5 years, $80,000 yearly following 5 years, $90,000 per ann. next 5 years.
$100,000 yearly following 5 years and $150,000 per ann. thereafter.
Not
subject to call.
Los Angeles Pacific Co. Gen. Consol. bonds have a sink, fund, 1911 to 1915,
$10,000 per ann.; 1916 to 1920, $15,000 per ann.; 1921 to 1925, $40,000
ann.:
1920 to 1930. $75,000 per ann.; 1931 to 1944, $80,000 ann., and 1945
to 1946, $90,000 per ann.
Of the $12,500,000 auth., $5,000,000 are re¬
served for prior liens.
Bonds are not callable.
Los Angeles Pacific Co. Is/ Ref. Mtge.—Subject to call as a whole or in
part on and after Jan. 1 1915 on any int. date at 105 and int. on 3 months'
notice.
Interest payable at company's office or agency in New York.
Sinking fund ofj6,000 per annum began in 1910.
Guar., p. & 1., by South¬
per ann.
Los
ern
Pacific Co.
i
Riverside & Arlington Ry. 1st Mtge.—Not callable.
Sink, fund began
Sept. 5 1900 as follows: After payment of exps. and int. the entire net in¬
come and entire net proceeds from sale of property applicable under trust
deed to be set aside each year to and incl. 1904; in 1905 and thereafter until
all bonds are paid, 75% of net income and proceeds from sale of property.
Redlands St. Ry. Is/ Mtge. 5% Bonds.—$50,000 are reserved for the
previous issue of 6% bonds.
No sinking funds and bonds are not callable.
Redlands Central Ry. Is/ Mtge.—Sinking fund began July 1 1912 and retires
$1,000 per annum to July 1 1917. $2,000 next 5 years, $3,000 per annum fol¬
lowing 5 years, $4,000 next 5 years and $5,000 following 5 yrs. Not callable.
Los Angeles A Redondo 1st Mtge.—Sinking fund retires $10,000
per annum
out of surplus and net earnings.
Bonds are not redeemable.
San Bernardino Valley Traction 1st Mtge. bonds are subject to call at 105.
Int. payable at First Nat. Bank, Redlands, and at First Nat. Bank.
XjOS Allg6l68.
San Bernadino Valley Trac. 1st A ref. Mtge. bonds are red. at 105.
Sink,
fund retiree at 105 and int. 12 bonds during 1913-15 (incl.) during 1916 pays
off 13 bonds; during 1917 14 bonds; during 1918-27 pays off 25 bonds yrly.;
during 1928-30 37 bonds yrly.; 1931 and 1932 38 bonds each year.
Ontario A San Ant. Heights Is/ Mtge. bonds are red. at 101 and int.
Sink,
und 1914 and following 4 years 1% of outstanding bonds. 2% thereafter.
EARNINGS.—For years ending Dec. 31:
Gross
Net (after
Other
Calendar
Year—
1918
1917
1916-
Earnings.
$10,331,916
9,267,120
8,664,467
Taxes).
$1,692,189
2,490,313
2,261,823
Income.
$154,101
65,730
52,567
Interest,
Rents, &c.
$3,541,433
3,441,159
3,296,849
Balance,
Deficit.
$1,695,143
885,116
982,459
ROAD.—Operates an Interurban electric railway system centering at
Los Angeles, extending into the counties of Los Angeles. San Bernardino
Ape., 1920 j.
ELECTRIC
RAILWAYS
Riverside and Orange and serves the cities of Pasadena, San Bernardino
Riverside, Colton, Redlands, Pomona, Ontario, Santa Ana, Long Beach. Co.
Venice, Ocean Park, Santa Monica. Redondo, San Fernando. Owensmouth and Lankershim.
Total miles operated, single track, 1,092.221, of
Trac. Co.
which 617.616 miles main track, 318.491 miles second and other main track
and 156.114 miles of sidings and turnouts.
Standard gauge.
Owns 46
,
67
ham
rona,
electric locomotives, 2 gas electric locomotives, 603 passenger and combina¬
tion cars, 31 express cars, 889 freight cars and 97 service and miscellaneous
cars; 1 power
station, 44 sub-stations and 4 portable sub-stations.
purchased from Southern California Edison Co.
Power
OFFICERS.—Pres., Paul Shoup, San Francisco; V.-P., H. B. Titcomb;
Aud., H. A. Culloden, Los Angeles; Treas., I. W. Hellman, San
Francisco; Gen. Mgr., J. McMillan.
General offices, Pacific Electric Bldg.,
Los Angeles.—V. 106, p. 2649; V. 107, p. 1101, 2290; V. 108, p. 1275,1937
V. 109, p. 578, 776, 1180; V. 110, p. 1415.
Sec. &
LOS
The
ANGELES
entire
RAILWAY CORPORATION.
S20.000.000
stock,
directors'
except
qualifying
shares,
is
ROAD.—The Louisville Ry. Co. owns 178.20 miles of track on 77
% miles
of street, with 18.05 miles outside city limits: all is electric.
Affords entrance
into Louisville for the Lou. & Nor. Ry. & Ltg. Co. and Lou. & Sou. Ind.
The Louisville & Interurban operates 103.45 miles of track in
Jefferson County, incl. extensions to La Grange and to Shelbyvilie in Old¬
and Shelby counties.
REPORT.—For fiscal years ending Dec. 31:
Cal.
owned by Mr. H. E. Huntington,and,along with certain amounts of differ¬
ent bond issues of this company and the Pacific Electric Ry. (see above), is
pledged
as security for the Huntington
trust issue—see V. 98, p. 527.
Land &
Angeles (V. 97, p. 1733), but on March 5 1915 the Cal. RR Comm. denied
Its application to issue $20,000,000 stock In exchange for the $20,000,000
stock of the Ry. Corp. and the $5,000,000 stock of the City Ry. and to
execute a mtge. under which $23,544,000 bonds were to be Issued in ex¬
change for outstanding bonds of the two companies or bonds at<sumed by
them.
V.
100, p. 901, 982.
The Los Angeles Railway Corporation
was incorporated in California on
November 7 1910 as successor to Los
Angeles Railway Co. and acquired all the city narrow-gauge lines owned
by Pacific Electric Railway and Los Angeles Interurban Railway, and
those portions of Los Angeles &
Redondo Ry. and California-Pacific
Ry. Co. lying north of an east-and-west line running through Hawthorne
and Athens, thus comprising all the street railway business of Los Angeles.
V. 91, p. 1386.
More than 85 miles of track is on private right of way.
All
main line and practically
all, down-town line franchises extend beyond 1940.
Owns entire $5,000,000 stock of the City Ry. of Los Angeles, incorporated
in Dec. 1910 to build new lines for the corporation.
V. 9|1. p. 1766.
Favorable Decision.—In a decision handed down April 6 1915 the District
Court of Appeals in Los Angeles sustained the right of the company to
charge 10-cent fares from the city to Eagle Rock, Glassel and other points
in that district.
See V. 100, p. 1438
Fares.—In connection with the co.rs application for a higher rate of fare
or a reduction in its service; the Cal. RR. Comm. in Feb. 1919, announced
its intention of investigating the co.'s affairs. V. 108, p. 683.
No decision
had been made to April 1 1920.
Valuation.—V.
110, p. 167.
Strike—Public Control Suggested, dec.—See V. 109, p. 1179.
STOCK AND BONDS—
Dale.
Interest.
Outstanding.
Maturity.
Stock $20,000,000.
$20,000,000
Los Angeles Ity Corp 1st & ref!
1910
5 K J-D
-14,880.000 Dec 1 1940
M $20,000,000 g (Sl.OOOuLos Angeles Trust <ft Savings Bank, Trustee.
Net
Other
Int. cfe
Revenue.
Earnings.
Income.
Taxes.
Pf.Div.
Common Balance,
(5%).
Dividend. Surplus.
INDIANAPOLIS & LOUISVILLE TRACTION
RY.—A trolley road.
Control.—In July 1919 the Interstate Public Service Co., a subsidiary of
Improvement collateral
The Los Angeles Ry. Company was organized Dec. 2 1913 to merge the
Los Angeles Ry. Corporation and its subsidiary, the City Ry. Co. of Los
Gross
Year.
1919_$3,537,234 $742,794 $105,297 $996,920
def.$148,827
1918. 3,711,446 1,327,475
84,657 982,369 175.000 249,708
5,055
1917- 3.284,985 1.547,820
175,000 95),206 137,500 534,091
101,023
In 1919 $8,677 was applied to discount on notes leaving a deficit of
$lo7,504.
The balance shown above for 1918 was applied to discount on notes.
From the surplus as above In 1917, $101,023, there was deducted <*95,000
for depreciation, leaving $6,023.
I
OFjFICERS.—Chairman of the Bd., T. J. Minary; V.-P., A. P. Humph¬
rey; Sec. & Treas., Samuel G. Boyle.—Y. 108, p. 2235; Y". 110, p. 167,
1089, 1188.
the Middle West Utilities Co., acquired control of the company by paying
$330,000 for the capital stock and assuming the bonded debt. V. 109, p.270.
ORGANIZATION.—Incorp. in March 1912 In Indiana as
Indianapolis & Louisville Traction Co., sold at foreclosure
the
success )r to
on
March 21
1912.
1905:
V. 94, p. 911.
Franchises in cities and towns are for 50 years from
remainder is on private right of way.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Common stock $600,000--—$596,200
Preferred stock $600,000
576,750
First
mortgage $1,500,000 g) 1912
5 g A-O
828,600 April 1 1942
($100, $500 & $1,000) _c*tf [Int. at Colonial Trust Co., Pittsb., Trustee.
Bonds.—Of remaining 1st M. bonds $650,200 are for impts. and extens
at 80% of cost.
Subj. to call on any int. date at 105 and Int.
Sink, fund of
2% per annum began Oct. 11917, Increasing 1% each year to and including
April 1 1921, then reduced to 1% per annum thereafter.
EARNINGS.—For year ending Dec. 31 1918, gross, $235,^46; net, after
taxes, $98,432.
In 1917, gross, $185,964; net, after taxes, $84,360.
ROAD.—40.9 miles of track from Sellersburg to Seymour.
Oars run
from Sellersburg to Louisville over tracks of Louisville & Northern Ry. &
Ltg. Co. and from Seymour to Indianapolis over the t racks of the Ind. Col.
& South. (Interstate Public Service Corp.). Through cars from Louisville to
Indianapolis were out into operation in 1908. Standard gauge; 75-lb. T rails.
OFFICERS.—Pres. & Gen. Mgr., John E. Greeley. Scottsburg, Ind..
V.-P., Mark Storen. Scottsburg. Ind : Sec., Nathan
G.
Eyster. Pittsburgh, Pa.; Treas., Jas. C. Chaplin, Pittsburgh, Pa.—V. 109, p. 270.
LOUISVILLE
&
NORTHERN~RATLWAY
&
LIGHTING.
Interests identified with the Middle West Utilities Co.
are
in control.
ORGANIZATION.—Incorporated under the general railroad laws of
Indiana in November 1905.
All of the $1,000,000 stock of the United
...
sinking fund..
;
„c»i
Ang Co. Ry M $5,000,-'
*9
5 g A-O
4.722.000
Oct 1 1938
000 gold ($1,000 each)„c*fln
at Union Trust Co., San Fran., Cal., Tr.
Los Angeles Trac 1st eons M (
lvv.*8
5 g J-D
250,000 Dec 1 1938
gold $250,000 ($1.000)
j St. Louis Union Tr Co., St. Louis. Trustee.
City Ry of Los Angeles 1st M { 1911
5 F-A
4,196,000
Feb 1 1941
$5,000,000 ($1,000) gold.c*]Int. at Los Ang. Tr. & S. Bk.. Los A.. Trus.
Los
Bonds.—Int.
on
1st
&
ref.
M.
bonds
is
payable at office of trustee
Bankers Trust Co., New York, and by arrangement at Anglo A London
Paris Nat. Bk., San Fran.
Bonds are not subj. to call.
Bonds have sk. fd.
of $10,000 per month (incl. s. f. on underlying bonds) to be Invested In
first
&
& ref.
ref.
bonds at
105 laud Int.
or
loss,
or
In approved securities; first
bonds purchased for s. f. to be kept alive, $1,099,000 bonds are held
V. 92, p. 262; V. 94, p. 1383; V. 95, p. 1273.
On 30 days
in sink. fund.
notice Int. may be made payable at the National City
on the Los Angeles Trac. issue paid at Chase Nat.
Bank.
Bank, N. Y.
Int.
New York.
$82and $278,000 canceled.
City Ry. Co. of Los Angeles 1st mtge. bonds have a sinking fund of 2% per
annum of principal amount of bonds outstanding, which began Jan. 1 1916;
$251,000 bonds in sinking fund.
000 Los Angeles Ry. Co. mtge. bonds in sinking fund
EARNINGS.—For years ending Dec.
Fiscal Year—
Gross.
*Expenses.
1919-
.$7,403,589
$5,579,541
6,580,507
4,989,722
1917
6,148,011
4,063,218
*
Excluding depreciation.
1918—
3^7.81
PROPERTY.—Comprises
31:
Net.
Int. & Taxes. Surplus.
$1,824,048
$1,576,125
$247,923
1,590,785
1,541.200
49,585
2,084,793
1,548,594
536,199
miles of track; 60. 72, 87 and 116-lb.
rails.
Owns and controls 875 passenger cars, of which 524 are of P-A-Y-E
type. 183 center and 168 misc. cars, and 104 work cars, &e.
Has favorable
Sower contract with the corporation's own transmission system, comprising
istributed through the Southern California Edison Co.; the current being
440.5 miles of line and 10 sub-stations.
/
OFFICERS.—Pres., H. E. Huntington; V.-P., W. E. Dunn; Gen.
Mgr., G. J. Kuhrts; Sec. & Treas., C. A. Henderson.—V. 97, p. 521, 1733;
V. 98. p. 523; V. 100, p. 1348, 1438; V. 101, p. 370; V. 103, p. 320; V. 108,
p. 683; V. 109, p. 577, 776, 1179; V. 110, p. 167, 1415.
LOUISVILLE,
LOUISVILLE
RAILWAY
KY.
CO.
ORGANIZATION.—Incorp. in Kentucky on Jan. 22 1867 and owns all
Franchise
the street railways in the City of Louisville and its suburbs.
partly for 99 years from 1886 and partly perpetual.
On Oct. 20 1917 the company filed amended articles of
are
incorporation In¬
creasing its aufch. pref. stock from $2,500,000 to $3,500,000 and its com.
stock from $5,500,000 to $8,500,000, in connection with the dissolution of
the Louisville Traction Co.
The Louisville &
Gas & Electric Co. and $232,950 stock of the New Albany Water-Works
Co. are deposited under this company's mtge. Has purchased the electrical
equipment of the Kentucky & Indiana Bridge Co. and leases the bridge
for 25 years, thus affording independent entrance into Louisville.
Com¬
pany does electric lighting and express and freight business in addition to
passenger business.
Road is mainly On private right of way.
Rates.—On May 18 1918 this company's application for increased freight
rates was approved by the Inter-State Commerce Commission. On April 16
1919 was authi. by the I.-S. C. Comm. to increase fares between New Albany
and Louisville from 5 to 7 cents.
STOCK AND BONDS—
Date.
Outstanding.
Maturity.
$3,499,000
Q-J
916,900
See text
1905
5 g J-D
600,000 Dec 1 1925
($500 and $1,000)
c*(Int. at Cont. & Comm. Tr. & S. Bk., Chic.,
(
Trustee, or at Eliot Nat. Bank, Boston.
Bonds.—Unissued bonds can only be issued for 80% of cost of property
built or acquired.
Are subject to call at 105 and Int.
V. 82. p. 868.
STOCK.—The Series A pref. stock is 6% cum., the Series B is cum. and
is entitled to 2% In 1906. 3% In 1907, 4% In 1908. 5% in 1909 and 6% In
-
1910 and thereafter.
Dividends.—Dividends from July
were
paid at rates called for
classes;
same
amount
up to
1 1906 on both classes of pref. stock
April 1909. when H% was paid on both
quarterly since to April 1920.
ROAD.—Operates 20 miles of track, Louisville to Sellersburg. with a line
branching off at Watson and running to Charlestown.
At Sellersburg
Ind. & Louis v. Trac. Ry. Co., running to Seymour, where
connection is made with the Ind. Col. & So. (Interstate Public Service Co.),
thus forming a through line between Louisvlue and
Indianapolis. The
line from Louisville to Charlestown will form part of a through line between
Louisville and Cincinnati.
Standard gauge.
70-lb. T rail.
OFFICERS.—Pres., Harry Reid, Louisville, Ky.; V.-P., L. D. Spragle,
New Albany, Ind.; Sec., IraE. Guthrie, Indianapolis; Treas., J. F. Stratton
New Albany, Ind.—V. 82, p. 509, 886; V. 94, p. 1626; V. 106. p. 1689,1901
V. 107, p. 2376; V. 108, p. 1610.
connects with
(1)
United Gas & Electric Co.
ORGANIZATION.—Incorporated in Indiana in 1902 and acquired the
Albany Gaslight & Coke Co., New Albany Light, Heat & Power Co.,
Jeffersonville Electric Light, Heating, Gas & Coke Co. and Jeffersonvllle
Light & Water Co.
Does entire gas and electric-lighting business in New
Albany and Jetfersonville, and supplies also Port Fulton, Silver Grove and
Clarkville.
Franchises, 45 years in New Albany and 50 years in Jefferson¬
vllle from 1902;
Ini other towns from 20 to 40 years.
Guarantees the
$250,000 first mortgage bonds of New Albanv Street Ry. Co
Rate Increases.—In April 1918 the Indiana P. U. Comm. auth. the co. to
increase gas rates at the Jeffersonville plant from $1 to $1 20 net.
An in¬
crease of 15% in New Albany was also granted.
These rates are to remain
New
in
effect for the duration of the war.
V. 106. p. 1692.
In Jan. 1920 the co. was auth. to issue $300,000 6% gold notes, to pro¬
vide for exts. and impts. in
New Albany and Jeffersonville.
STOCK AND BONDS—
Interurban RR. has been organized in the Interest of
Interest.
Common $3,500.000
Pref $1,500,000 Series A & BFirst mortgage $2,500,000 gf
Date.
Ry. to construct a system of urban and tnterurban lines.
No
been Issued except $4,000,000 stocu (increased to that
1913) to Louisville Ry. Co.
In Jan. 1911 Louis¬
ville & Interurban RR. acquired the Louisville & Eastern RR. (all of whose
bonds, construction notes, receivers* certificates, &c.. and about all the
stock, was owned by Louisville & Interurban). sold at foreclosure on Jan. 3
1911.
V. 92. p. 59, 262.
Dissolution of Holding Co.—On Nov. 22 1917 the Louisville Traction Co.,
which owned all the stock of the Railway company, was dissolved in order
to reduce Federal and State taxes.
Preferred stockholders exchanged their
stock for Louisville Ry. pref. stock on a share-for»share basis; holders of
common stock received seven-tenths of Railway common for each share of
the Louisville
amount
have
in
February
Traction common
Interurban RR, increased
402.
|
that more
efficient management of the street railways be adopted instead of an in¬
crease in fares.
The city, in turn, agreed to certain franchise modifications,
eliminating duplication of service on unprofitable lines.
V. 108, p. 2022.
Compare, however, V. 110 p. 167.
Wage Award by National War Labor Board.—V. 108, p. 579.
STOCK AND BONDS—
Date.
interest.
Outstanding.
Maturity.
$8,323,600
See text.
Common $8.500.000
3.500,000 Oct'18,2:
Pref 5% cum $3,500.000---A&O
4,035.000
Feb 1 li
Louisville Ry gen mtge gold\ 1910
5 g F-A
$20,000,000 ($1,000) —c*tf /Interest payable in Louisville.
6,000.000 July 1 1930
Louisville Ry cons M gold f 1890
o g J-J
$6,000,000 (listNY)—C*tfi Int. at National Bank of Commerce, N. Y.;
(
Fidelity-Col. Tr. Co., Louisville, Trustee.
Louisville Ry 2d mtge, $2.-1 1900 AM g M-S
2,000.000 Mar 1 1940
000,000 gold ($1,000)-_-tf/Interest payable in Louisville.
/
3-year notes.—
1918
6%
684,000
1921
Bonds.—$8,000,000 of the gen. mtge. bondife of 1910 are reserved to retire
prior liens; the remainder is for extensions and improvements.
Bonds are
not subject to call.
Fidelity-Col. Trust Co., Louisville, trustee.
Dividends.—5% was paid on pref. stock to and incl. Oct. 1918.
None
since.
4 % was paid on the old Traction common stock up to time of dissolu¬
tion.
Divs. of 1H % each were paid on Railway common in Jan., April and
July 1918. Oct. div. omitted (V. 107, p. 1385). None since. V. 108, p. 878.
Fare Increase.—On July 1 1918 the Louisville &
fares on all suburban lines to about 2M cents per mile. V. 107, p.
On May 10 1919 the company agreed to the Mayor's proposal
,
_
-
.
174.
—
Bonds.—$750,000 first consols are reserved to retire a like amount of
first 5s; and $127,000 have been retired.
Both issues mature serially from
1907 to 1942, but the bonds of 1902 may be called at 105 and inc.; the new
consols are callable after July 1 1924 at 105 and int.
See V. 79. p. 2458
—Calendar Years
1919.
1918.
Gross
earnings—— ——$535,158
Operating exp. and taxes— 429,489
Net
-
.$105,669
94,520
earnings-
Interest, &c
Balance.
.
-
$11,149
—Years ending June 30
1916-17. 1915-16.
1914-15
$479,072 $404,393 $334,033 $331,595
347,451
283,890
218,363
230,304
$131,621 $120,503 $115,670 $101,291
109,574
87,682
84,648
80,859
$22,047
$32,821
$31,022
$20,432
OFFICERS.—Pres., Harry Reid, Louisville, Ky.; V.-P., L. D. Spragle,
Albany, Ind.; Sec. & Treas., J. F. Stratton, New Albany, Ind.—
V. 85, p. 737, 1466; V. 106, p. 1692; V. 110, p. 174.
New
_—
-
*
p.
Outstanding.
Maturity,
$1,000,000
f 1902
5 g J-J
636.000
See text
goldc*-|Iot- at Cont. & Comml. Trust & Sav. Bank,
I
Chic., Trus., and at Eliot Nat. Bk., Bos.
First consolidated mortgage (
1904
5 g J-J
750.000
See text
$1,500,000 gold ($500 and^Int. at Cont. & Comml. Trust & Sav. Bank,
$1,000)
c*i
Chic., Trus.. or at Eliot Nat. Bk., Boston.
—---
securities
V. 110,
Interest.
Stock $1,000,000 ($100)First ratge $750,000 ($1,000)
Indiana fraction Co.
in Indiana under the General Railroad
Interurban Railway
Co.
Leases the New Albany Street Railway Co. for 25 years from Aug. 1
1903 (with privilege of renewal for 25 years) at a yearly rental of $500, the
int. charges and taxes and divs. of 4% on $100,000 preferred stock.
V. 77,
y. 769.
In Sept. 1904 acquired the Highland RR. for $10,000 in bonds.
V. 79, p. 1643.
In Dec. 1905 acquired the Jeffersonville City Ry.
See
V. 81, p. 1792.
Franchises are for 50 years; also permitted to carry freight.
Fares.—On June 20 1918 was auth. by the Ind. I'. S. Comm. to charge a
(a)
Louisville
& Southern
ORGANIZATION.—Incorp.
Laws in 1903. and is successor to the Southern Indiana
straight 5-eent fare in Jeffersonville and New Albany and to increase the
fares between these cities from 5 to 10 cents, with commuters' tickets at
7 cents each.
On April 16 1919 the I. S. C. Comm. auth. a 7-cent fare
between Jeffersonville, Ind., and Louisville, Ky.
Compare V. 107, p. 2376.
Freight Rates.—On May 9 1918 this company's application for increased
freight rates was approved by the I.-S. C. Comm.
*
[VOL. 110.
ELECTRIC RAILWAYS
68
GEORGIA LIGHT, POWER
1
jainesviltffe.
c
rfl.e r
\nton.
o/y e
e
COMPANIES
.
MACON and ATLANTA, GEORGIA
VFORSYT
RAILWAYS
&
AND ITS SUBSIDIARY
H/
-ENTRAL.GEORGIA POWER CO.. AND
CO.
Ct/TRAL GEORGIA TRANSMISSION
cumming
Flowery
TRANSMISSION LINES IN OPERATION.
Branoh
jeffersot
alpharetta
Imu'to
K
C
,A
n
Suwanee
•
ioswellv
X
marietta
C
0
V
B
B
Norcross\
-
A
VTHENS
Tl
;
White Hall;
/
Campion
^LEXINQTpf
OGLE1THORK
/atkinsvillei
_0 C 0
e
e
r?»
w-
caustell
(Stephen's
| UOTNKflW*Xlm
7
k\i
1
/*!
)
1
>*»
ea:
^TjPplNTjp
Socia) Q'iYole$$\
°7T\cu
felll
,
I3l \ «eorqu
;fL
atPSs
^
*1
/V
/^V
)VLNGTONi'^ V
greensboro
\
o
Siloam^l
y
swf,ED \ IP
fayettevilleI
m
MC
VAn..
IAMPTOT
White Plains
XT\Y/A
,
M
monticello
A
ICITT xBPPiiro:
©
iXf SenpU
'i;
v
wOF
s
ELECTRICITY SUPPLIES
central georgia power co$ Nona
Indian-Spr.
electric
*1
owulgee river plant
m
c
H
0
c
irner
\
MilnerJ
l^edenvllle^
zebulcn
1/
^
FORSYTH
BARNES VI
p*
b
°Oc\ Way side
\E
K
j
o
.
Ettcntr
n
E
\
Slooumb'
,
<P
STEAM PLANT
0«-H-
UNCAPACITY
<s
ful
(Yatesville
thomaston
0
i
ELlCTSICIT
_.
L
B
0
T
®
/
s
knoxville
c
r
>•
\
v
rv
o^1
1
^IHENS$>.
\\r
\
perryl
^
AUGUST^
^
cpiffin
1
barNecville
«
thoma6ton
io
<
columbus
\
E
jtfs
m,
fyiWhiini
opiIati
talbotton
A ATLANTA
sandersvillt
IGordon
»"v
p
I*
Q RVG r A
*
'oglethorpe
v
KCj
r
W
0*
IAC
//.Euc«icim»ppHa
T
l
S,
mciiicinJiipPLiE^T
<>*
a
scale" of miles
20
MACON,
GEORGIA
showing street railway system
APR.,
ELECTRIC
1920.]
Maturity.
$2,000,000
432,480
1903
5 g M-S15
999,000 Sept 151923
gold ($500 and $1,000) _c*(Int. at Cont. & Comm. Tr. & S. Bk., Chicago
[
and U. S. Trust Co., Louisville, Trustees.
New Albany St Rv $250.0001 1902
5 F-A
250,000 Aug 1 1927
($1,000) guar prin and Int./Int. at U. S. Trust Co., Louisville, Trustee.
Bonds.—1st M. bonds have no sk. fd., but are subj. to call after 10 yrs. at
105 & Int.
See V. 77, p. 769, 2339.
New Albany St. Ry. bonds are subj.
to call on any int. date at 165 A int. and are guar, by United Qas A Elec.
ROAD.—Operates 31.36 m. of track, including 10H miles leased from
New Albany Street Ry. and also line between New Albany and Jeffersonville, and city lines in Jeffersonvllle.
An extension to Louisville was com¬
pleted in Sept. 1905.
Has a contract with "Big Four" RR. for the use
of its bridge over Ohio River and with Louisville Railway Co., allowing Ite
cars to enter Louisville.
Has erected an interurban terminal on Third St..
Date.
STOCK AND BONDS—
19 8
Wm. H. Felton; V.-P.. P. G. Gossler: Sec.. R*
L. A. Magraw; Aud., N. M. Hudson.—V. 107, p. 906.
OFFICERS.—Pres.,
Outstanding.
Interest.
Common $2,000,000 ($10)
Pref 6% cum $1,000,000 ($10)
First
mortgage
$1,000,000 f
69
RAILWAYS
Frank Jones; Treas.,
V. 109, p. 578.
(2) Macon Gas Co.
ORGANIZATION.—Incorp. In Ga. In 1852.
Was formerly Macon Gas
& Water Co., but In Oct. 1911 transferred Its water plant to the city,
and changed name to present title.
Controls entire gas business of Macon
Lt.
Practically all the $475,500 com. and $20,000 pref. stock Is owned by Ga.
Lt., Power & Rys.
Company has no bonds.
EARNINGS.—For years ending Dec. 31:
Balance
Preferred
Dec. 31
Gross
Net (after
Interest
Divs.
Surplus
Years—
.1
Earnings.
Taxes).
on Notes.
i. $1,000
$28,567
1919-$230,167
$53,180
$23,613
1,690
22,905
199,522
43,169
29,163
Output now exceeds
Has 2 gas holders and over 54 miles of mains, Ac.
199,000,000 cu. ft. per annum.—V. 93, p. 942. 1537; V. 99, p. 1455.
Girder rails, 90 lbs.; T and girder rails. 75 and 77
lbs.
OFFICERS.—SameasforLouisv. & Nor. Ry.ALtg. Co.—V.107.p.2376.
Louisville.
19
g) Central Power & Rys. owns $3,660,000 stock.
eorgia Lt.. Georgia Power Co.
ORGANIZATION.—Incorp. in Ga. on March 4 1907 as Bibb Pow. Co.
title.
Began oper. June 1 1911.
and in Jan. 1908 changed name to present
STOCK AND BONDS—
OKLA.
McALESTER,
1916 to take over
light and power business of the Choctaw Ry. & Lighting Co. sold at
(V. 102. p. 1539) and owns all the $499,000 1st M. bonds and
the entire $600,000 capital stock of the Pittsburgh County Ry., incorp. in
Oklahoma June 24 1916, to take over the street railway properties.
Fare Increase.—In Aug. 1919 the Pittsburgh County Ry. was auth. to
Increase fares in McAlester from 5 to 7 cents. V. 109, p. 677.
Date.
Interest.
$1,000,000
275,000 Feb.T9,3i2%
and! 1916
1,147,000 Sept 1 1941
$500)
c*tf/Int. at Guaranty Tr. Co. of N. Y., trustee.
Bonds.—Open issue authorized.
Impt. fund of 1% per annum from
1921-1925; 1&% 1926-1929; IX % 1930-1933; IH % 1934-1937; 2% 1938-41.
Dividends.—Paid 3^% on pref. in March and Sept. 1918.
In 1919,
M-S
5 g M-S
198
None since.
Feb., 33^%.
EARNINGS.—Combined earnings of the Choctaw Power
the Pittsburg County
& Lt. Co. and
Ry. Co. for year ending Dec. 31 1919, gross.
$431,922;
$50,023; charges, $62,475; surplus, $27,876.
ROAD.—The Pittsburg County Ry. operates in cities of McAlester and
Hartshorne, and an interurban line, over private right of way, between the
two cities.
23.26 m. of track.
Standard gauge; rail, 66-70-lb. T.
16
passenger cars, 11 other cars, 1 electric locomotive.
OFFICERS.—Pres., C. N. Mason, N. Y.; V.-P., J. A. Trawick, Boston;
Sec.-Treas., L. W. Osborne, N. Y.; Gen. Mgr., J. C. Chestnut.
N. Y.
•ffice, 165 Broadway.—Y. 103, p. 940.
EARNINGS.—For 12 mos. eading Dec. 31:
Gross.
Net, aft. Tax. Bd. Int., Ac.
Surplus.
$572,531
$369,061
$219,426
$149,635
469,941
194,829
221,554
def 26,725
PROPERTY.,—Owns hydro-electric plant with a capacity of 24,000
electric horse power on Ocmulgee River, near Jackson.
Transmission
lines extend to Macon, Forsyth, Jackson, Bibb, Barnesville, Thomaston
and Griffin, connecting at the last-named point with the line of the Central
Georgia Transmission Co. (whose entire capital stock and bonds are owned
by Ga. Lt., Power & Rys.), running to Hampton, Jonesboro, Monticello and
Atlanta.
Total length of transmission lines (incl. Cent. Ga. Trans. Co.),
145 miles.—V. 93, p. 1536, 1670.
Year—
1918—
STOCK AND BONDS—
Date.
Interest.
Maturity.
Outstanding.
$7,660,000
($100)
Q-J
500.000 Apr/20 1H
1911
5 M-S
3,512,000 Sept 11941
gold ($1.000)
_c#&r__lNew York Trust Co., New York, Trustee.
5-yr. notes ($1,000)
c*f 1920
7 g F-A-l
See text Feb 11925
[New York Trust Co., N. Y., Trustee.
Pref $2,000,000 6% n-c ($100)
First
liensk. fd. $6,500,000/
601,507
Demand notes.
__—-——
shares are callable at 110 and are pref. as to prin.
listed on Pittsburgh Stock Exchange.
Common stock
the Pittsburgh, Chicago and London stock exchanges.
The
Stock and Bonds.—Pref.
and dividend;
listed
is
on
are
reserved under careful restrictions
securities and for extensions and Impts.
Bonds are
the securities owned by Ga. Lt., P. & Rys. $128,000
(not incl. in amount reported outstanding) are held in the treasury and
$277,000 have been retired by sinking fund.
Red. at 105 & int. on any
Int. date on 30 days' notice.
Prin. & int. payable at office of A. B. Leach
A Co., Inc., N. Y., or Bank of Scotland, London.
Annual sinking fund,
$50,000 1916 to 1920, $75,000 1921 to 1925, and $100,000 1926 to 1940.
V. 93, p. 1532.
Bonds are listed on Chicago. Pittsburgh and London stock
exchanges.
Of the $1,000,000 5-yr. notes $670,000 are deposited as col¬
lateral to demand notes of the company.
Are red. all or in part by lot
on any int. date on 4 weeks' notice at 105 and int.
Dividends.—Quarterly divs. of 1H% on pref. stock were paid from Jan. 1
1913 to Jan. 1 1915, inch; none to Oct. 1917, when regular quar. divs. of
remaining $2,583,000 first lien bonds are
for acquisitions of other
secured by deposit of all
1H % were resumed.
REPORT.—For year ending Dec. 31 1918: Interest and divs., $274,269,
salaries and expenses and taxes, $242,901; divs. on pref.
stock, $30,000; surplus, $1,368.
In 1917, interest and divs., $300,550;
total deductions, $237,315; surplus, $63,235.
The combined results of the
less int. charges,
inter-company items eliminated, were:
Sub. Co. Int.
Interest
Balance,
& Divs.
Charges.
Surplus.
1919
$1,452,674
$621,855
$224,690
$235,146
$162,018
1,226,129
443,374
219,298
236,720
def.12,645
PROPERTY.—Through controlled companies operates entire electric
railway and gas business in Macon; furnishes electric light and power in
Macon.
Monticello. Forsyth, Barnesville, * Griffin, Jackson, Jonesboro,
Bibb, Thomaston and Hampton, Ga.; also sells a large amount of electricity
company
and its subsidiaries, with
Gross
Net (after
Earnings.
Taxes).
Calendar
Year—
-
MADISON, WIS.*
MADISON RAILWAYS COMPANY.
ORGANIZATION.—Successor In May 1916 to the Southern Wisconsin
Ry., for statement of which see this Section for May 1916.
expire In 1932. 1938 and 1944.
The $200,000 notes originally matured May 1 1919 and bore
but were extended for one year at 7% and a 1 % premium.
OFFICERS.—Pres.. M. J. Murphy; V.-P..
Thames, Jr.; Asst. Sec. & Asst. Treas.,
J. J.
290; V. 106, p. 1124,
J. D. Everitt; Sec. & Treas.,
Lloyd Robinson.—V. 105, p.
1577, 2445, 2450; V. 108, p. 2528; V. 110, p.
(1) Macon Railway
561,1642.
& Light Co.
owned by Georgia Lt.. Power A Rys.
ORGANIZATION.—Incorporated In Georgia on Oct. 23 1902 by the
Railways ic Light Co. of America as a consolidation of the Macon Consoli¬
dated Street Ry., the Macon Electric Light A Ry., the North & South
Macon Street Ry. and the Metropolitan Street Ry
The city ordinance
permitting the consolidation, passed on Sept. 16 1902. granted a 50-year
franchise. For terms, see V. 75. p. 733.
.
Control of the Georgia Public Serv. Corp. (incorp. in Ga. in May 1912
was acquired in Oct. 1913 by interests friendly to the Macon Ry. & Lt. Co
and Central Georgia Pow. Co.
V. 97, p. 1286.
In June 1914 Georgia RR. Commission sanctioned the issue of $700,000
additional common stock, making the total $1,600,000.
Fare Ihcrease.—On July 31 1918 the-City Council passed an ordinance
allowing the company to charge a 6-cent fare until one year after the war,
when the 5-cent rate will again take effect.
V. 107, p. 906.
^
STOCK AND BOND8—
Date.
Interest.
Outstanding.
-5900,000
$1,600,000 ($100)
Maturity
--------
Pref $300,000 ($100) 6% cum
6 A-O
300.000
See text.
Macon Ry A Lt 1st cons mtge/ 1903
5 g J-J
959.000 Jan 11963
g $1,000,000 ($1,000) _c*tf • Int. at Equitable Tr. Co.. N. Y., Trustee.
Macon Elec Lt & Ry 1st mtgef 1899
6 g J-J
42.500 Jan 1 1929
$100,060 ($500) gold_c*tf (Int. at Equitable Tr. Co., N. Y.. Trustee.
Bonds.—Macon Ry. & Lt. 1st consols are subject to call on any interest
date at 110 and int.
$41,000 bonds, $12,300 eom. and $16,400 pref. stock
are held by Savannah Trust Co. to retire the $42,500 Macon Elec. Lt. &
Ry. bonds
See V. 76, p. 212.
annum has been paid s.-a. on pref., 1903 to April
remaining out.
Dividends.—6% per
1920, inclusive.
ROAD.—Owns and operates
^
.
about 37.11 miles of track,
re-laid with 70-lb. rails.
58 cars.
EARNINGS.—For years ending Dec.
all of which has
been
Year ending
31—
1919
1918-"-"-"-"-
Gross
Earnings
$766,573
657.469
Net (after
Taxes)
31:
Interest on
Bonds. At.
Pref. Div.
(6%).
$211,375
210,965
$108,715
107,657
$17,016
17,016
Balance
Surplus.
$85,644
86,292
Interest.
year at 7% and a 1% premium.
EARNINGS.—For year ending Dec. 31 1919, gress,
one
$349,224; net, after
taxes, $86,268.
In 1918, gross, $298,978; net, after taxes, $82,490.
ROAD.—Owns 17 miles of standard-gauge track, including lines in Madi¬
son,
and extension to Fair Oaks,
Elmside, Lake Park Cemetery and South
Madison.
OFFICERS.—Pres., F. W. Montgomery;
Sec. A Treas.. Warren Montgomery; Supt.,
220; V.
110, p.
V.-P., Dudley Montgomery;
D. Montgomery.—V. 103. p.
1642.
MANCHESTER, N.
H.
MANCHESTER TRACTION, LIGHT & POWER CO.
ORGANIZATION.—Incorporated in 1901 in New Hampshire and com¬
prises the several light, power and street railway properties in and around
Manchester and the light, power and gas property in Nashua.
The com¬
pany owns the stock of the Manchester St. Ry., Manchester A Nashua St.
Ry. (name changed from Goffs Falls Litchfield & Hudson St. Ry. in Feb.
1907) and Manchester & Derry St. Ry.
In Jan. 1918 purchased the water
rights of the U. S. Bobbin & Shuttle Co.
Franchises
perpetual.
Interurban roads and main transmission
lines
private right of wav, except through cities and towns.
S. Comm. of New Ramp. auth. the Manchester A
Nashua St. Ry. to Increase its fares from 5 to 7 conts, effective Oct. 16
1916, but recommended the retention of existing rates ror school children
and the sale of commutation tickets on a 5-cent fare basis.
Stockholders of record Aug. 22 1917 were given the right to subscribe
for $184,000 stock pro rata at par, making $3,864,990 outstanding.
Pro¬
ceeds were for retirement of floating debt, new construction and impts., Ac.
V. 105, p. 2184.
In Nov. 1919 brought out $1,750,000 6% 3-yr. conv. notes to refund
on
On Oct. 9 1916 the P.
$1,500,000 2-yr. 6% notes,
poses.
V. 109, p. 1891.
due Jan. i 1920 and for other
Stock $5,000,000
|
Date.
($100)
Interest.
Q-J 15
corporate pur¬
Outstanding.
Maturity.
$3,864,000 Apr.'20, 2%
5 g A-O
914,000 April 1 1921
\Interest at American Trust Co.. Boston. Tr.
$2.-7 1901
1st consol mtge (closed)
000.000 gold ($1,000)c*ntf
Nashua
lstl 1906
5 g J-D
200,000 June 1 1926
M gold $300,000 ($1.000)tf lint, at American Tr. Co., Boston, Trustee.
Man A Derry St Ry 1st mtgef 1907
5 J-D
125,000 Dec 11927
$500,000 ($1,000) guar._tflint, at American Tr. Co., Boston, Trustee.
First RefM Sink Fund g $15,-\ 1917
5 g F-A
1,642,000 Aug 11952
000.000($1,000 c*; $5,000 r /Int. at American Trust Co., Boston, trustee.
Convertible notes $2,000,000/ 1919
6 g M-N
1,750,000 Nev L 1922
($500 & $1,000) gold.._ctf/American Trust Co., Boston, Mass., trustee.
Bonds.—The Manchester A Nashua St. Ry. and the Manchester & Derry
Manchester
Entire common stock is
Common
Franchises
int. at 6%
1926 the proposal that the city
three to one. V. 116, p. 1642.
Outstanding.
Maturity
Stock $600,000 ($100)—
$350,000
1st mtge $1,500,000 g ($500/ 1916
6 g M-N
877,500 May 1 1936
and $1,000)
c*_tf (Int. at Wisconsin Tr. Co., Milw., trustee.
3-year notes ($200,000) gold) 1916
7 K M-N
200,000 May 1 1920
($500 and $1,000)
cMInt. In Chic.
Wise. Tr. Co.. Milw.. trustee.
Bonds.—Additional bonds may be issued for extensions, additions, Ac.,
for 80% of cost under conservative restrictions.
Red. at 102 X and Int. en
any int. date on 60 days' notice.
A sinking and improvement fund of 1
per annum of bonds outstanding began May 1 1919 for redemption of
bonds or Improvements, Ac.
The notes are redeemable at par and int.
on any Int. date on 30 days' notice.
The following payments were required
to be made into an improvement fund for the redemption of notes or for
Improvements, Ac.: May 1 1916, $15,000; Nov. 1 1916 and May 1 1917,
$12,500; Nov. 1 1917 and May 1 1918, $15,900, and Nov. 1 1918 and
May 1 1919, $17,500.
$105,000 has been paid inte fund.
The notes
originally were 6s and matured May 1 1919, but have been extended for
Date.
STOCK AND BONDS—
STOCK—
In
jr)ec
j
1
City Ownership Rejected.—On April 6
purchase the co.'s lines was voted down
GA.
GEORGIA LIGHT, POWER & RAILWAYS. (See map on page 67).—
ORGANIZATION.—Is a voluntary association formed under Massa¬
chusetts laws in Sept. 1911.
Has acquired all the com. stock of Macon Ry.
A Light Co., practically all the com. & pref. stocks of Macon Gas Co..
$3,660,000 [of the $4,000,0001 stock of the Central Georgia Power Co. and
the entire capital stock of the Central Georgia Transmission Co.
Also
owns
$2,003,194 6% securities of its constituent companies issued for
new construction. Ac.
In Feb. 1920 sold $230,000 5-yr. 7% notes to provide for the redemption
•f an issue of 6% debentures which matured Feb. 1 1920.
Common $8,000,000
.
in sinking fund.
net, $140,374; deprec.,
MACON,
^
A. B. Leach A Co., Inc.,
Scotland, London.
Subject to call at 105 and int. far
sinking fund or any or all at company's option on any Int. day.
Sinking
fund of 1% of bonds out began In 1913. V. 88. p. 1199.
$214,800 bonds
Common $1,000,000
Pref 7% cum $275,000
First mtge gold ($1,000
.
bonds is payable at office of
on
Maturity.
N. Y., or Bank of
Maturity.
Outstanding.
c*&r».J
alent)
Bonds.—Int.
foreclosure
Outstanding.
Interest.
$4,000,000
5 M-N
2,785,200 May 1 1938
Empire Trust Co., New York, Trustee.
1908
Mtge $3,000,000 g ($1,000.)
$500 & $100, or £ equiv-f
the
STOCK AND BONDS—
Date.
Stock $4.000,000.
POWER & LIGHT CO.
ORGANIZATION.—Incorp. in Delaware on June 27
CHOCTAW
A
St. Ry. bonds are guaranteed,
Both mortgages are closed.
prin. & int., by Man. Trac., Lt.
A Pow. Co.
t
retire floating debt
and provide for new construction, Ac.
After April 1921 will become a first
mtge. on all property now owned.
$2,059,000 are deposited as collateral
to secure convertible notes.
Additional bonds may be issued for re¬
funding and for acquisitions, under guarded restrictions, but not in excess
of twice the par value of outstanding stock.
Sinking fund of 1% or bonds
outstanding on each Aug. 1 began 1919. and is applied to purchase of bonds
at not to exceed 105 and int.
Bonds purchased to be held alive. Call at
The first ref. mtge.
105 and int.
sinking fund bonds were issued to
V. 105, p. 909.
convertible notes are
Notes.—The
convertible or, if called for redemp¬
equal amount of 1st
secured.by $2,059,000
of $100,000, at 101
tion, up to 10 days prior to redemption date, into an
ref. 5% bonds at a valuation of 92 H and int.
Are
1st ref. M. bonds.
Subject to call, all or in multiples
and int. on 30 days' notice.
V. 109, p. 1891.
PROPERTIES.—The different roads controlled comprise 65.595 miles
track, as follows: Manchester Street Railway, 42.842 miles; Man¬
Nashua Street Ry., 14.335 miles; Manchester A Derry St. Ry..
8.418 miles.
107 passenger and 18 misc. cars.
4 hydro-electric plants
present capacity approx. 11.500 h. p.; 2 steam reserve stations at Man¬
chester with a combined capacity of approx. 10.900 h.p. and 1 steam reserve
station at Nashua with capacity of approx. 2,000 h.p.
Also owns water
rights along the Merrlmac River.
_
Dividends.—First dividend of 3% on July 15 1901; paid 6% per annum
to and Including 1905; 7%
in 1906; since 8% per annum.
5% extra
dividend In 1911-12.
of
chester A
REPORT.—Of the Manchester Trac., Lt. & Power
companies for
Oo. and subsidiary
Year end.
Dec. 31.
.
Net {after
Interest
Balance for
Earnings.
Taxes).
cfee.
Divs. &c.
1919
$2,020,019
$088,992
$292:109
$396,884
1918
1,655,035
560,257
225,801
334,455
OFFICERS.—Pres.
E. C. Foster: V.-P.
Walter F. Norton: V.-P. &
Gen. Mgr.
J. Brodio Smith: Treas. Geo. S. West; Asst. Treas., Lester E.
Flint and Robt. Haydock; Cierk, Allan Wilson.—V. 105, p. 998,1802. 2184.
2543; V. 106, p. 86, 396, 929; V. 109, p. 1891.
—
In
Sept. 1912) for $160,000. payment to be made In 20-year Lakeview
2% int. for 2 years, 3% for 3 years, 4% for 8 years
5% for the last 7 years.
V. 96. p. 863.
City Ordinance Not
Enforced.—On Mar. 13 1914 Chancellor Fentress
granted an Injunction restraining the city from enforcing a vexatious and
Traction bonds bearing
ending Dec. 31:
years
Gross
.
-
and
unreasonable ordinance which was to have become effective Mar. 14 1914.
Ft details of the ordinance
Strike
of the property at $11,846,034.
marion, ill.
EARNINGS.—For year ending Dec. 31 1919, gross,
52 to 70-lb. T rail.
OFFICERS.—Pres., J. G. Drew; Sec. & Treas., E. K. Lycett.
1920 Federal Judge John E.
In Mar.
•
time, should this fare be found inadequate, the rate shall automati¬
cash fare of 7 cents or 10 tickets for 65 cents.
Should this
in'turn fail to produce sufficient revenue then fares are1 to be
regulated by the P. U. Comm.
V. 110, p. 1290.
go to a
Bucyrus RR., sold
reorganiza¬
foreclosure per
as a
under
plan V. 96. D. 1488, 1839.
1st
M.
6s
Interest.
Outstanding.
$350,000
47,000
250.000
6% g
5%
red.
Maturity.
—
1934
1944
102M and Int. on any Int. day.
Remaining $53,000 Is held by trustee pending construction of power-house.
$100,000 gen. & ref. mtge. bonds are reserved to retire 1st M. bonds.
V. 96, p. 1488. 1839.
EARNINGS.—For cal. year 1919, gross, $52,022; net after taxes, $14,628.
In 1918, gross, $45,817: net, after taxes. $12,369.
OFFICERS.—Pres., Geo. Whysall; V.-P. & Treas., Jas. H. Caldwell,
Troy, N. Y.; Sec. & Asst. Treas., H. B. Hane—V. 101, p. 1013, 1713;
V. 110, p. 764.
are
Maturity
See text
Outstanding.
$2,500,000
accr dlvsj
2,500,000 June' 17, 2H
mortgage
$10,000,000/ 1905
5 g J-J
8.584.000 July 1 1945
gold (see text) closed_c*&rlInt. at Central Trust Co.. N. Y., Trustee.
($100) red at 110 &
ORGANIZATION.—Incorporated In Ohio In May 1913
Bonds.—'The
Interest.
Date.
Common $2,500,000 ($100)
Preferred $2,500,000 5% cuml
ohio.
Date.
order which has
of which
STOCK AND BONDS—
STOCK AND BONDS—
an
schedule
COLUMBUS MARION & BUCYRUS RY.
Stock,$350,000.
First mtge. $100.000 ——tf 1914
Gen&Ref M. $350,000, gold tf 1914
McCall issued
been accepted by all parties concerned, providing that the 6-cent fare then
in effect be continued as a test fare for 3 mos. from April 1 1920, at the end
cally
Standard gauge.
&
Compare V. 110, p. 167.
-
2433.
p.
$103,412; net, after
$66,467; other income, $40; deficit, $66,427.
In 1918, gross,
$112,593; net, after taxes, $1,665; other income, $3,532; surplus, $5,197.
ROAD.—Operates 15.36 miles of track from Marlon to Oarterville and
Columbus Marlon
970.
p.
Compare V. 108, p. 1721.
On June 12 1919 the Tenn. P. U. Comm. issued
an order fixing a 6-cent emergency fare with no charge for transfers.
V. 108
taxes, def.
tion of the
103. p. 666.
V.
V. 110,
Fares.—In May 1919 the receivers were auth. by Federal Judge John E.
McCall to apply to the Tenn. RR. and P. U. Comms. for an increase in
fares to 7 cents, with a 1-cent charge for transfers, &c.
V. 108, p. 1936.
COAL BELT ELECTRIC RY.
In 1904 passed Into control of the St. Louis Iron Mtn. & Sou. Ry. Co.
Stock authorized and outstanding, $300,000; par of shares, $100.
marion,
V. 98. p. 912.
see
Settlement—Agreement.—See
Valuation.—In March 1920 the Tenn. P. U. Comm. fixed the valuation
360.
Herrin.
[Vol. 110.
RAILWAYS
ELECTRIC
70
at
Cons
Gen mtge $30,000,000 gold] 1915
6 g M-N
See text
Nov 1 1935
($100 <fe $1,000)—C*
tffGuaranty Trust Co., N. Y., Trustee.
2-year collateral gold notes/ 1917
0 g M-N
1,250.000 Nov 1 1920
($1,000)
-c»cpt(lnt. at N. Y. Trust Co., N. Y.t Trustee.
One-year notes
Bonds.—The consol. M. bonds
200,000
72.000
6%
6%
1914
Equipment trust
are
To 1924
In denom. of $1,000 coupon and $10,-
000 registered. Are not subject to call. Sinking fund $25,000 per annum,
1910-14; $30,000. 1915-19; $35,000, 1920-24; $40,000. 1925-29, and $50,000
1930-45. See V. 82. p. 628. 1498. $358,000 held alive
in sinking fund;
remaining $1,416,000 deposited as security for coll. gold notes.
Mortgage
clooed.
$512,000 gen. M. bonds are deposited as coll. for 2-year notes.
During life of notes total issue of gen. M. bonds cannot exceed $650,000 ex¬
cept with consent of two-thirds of collateral noteholders.
Of the unissued
generaland remaining $19,666,000 are for add'ns,to retire the under certain
mortgage bonds, $9,822,000 are reserved exts., Ac., consol. mtge.
onds
restrictions.
Red. at 102H and Int. on any Int. date.
V. 101, p. 1886.
The 2-year coll. notes were issued to provide funds for the payment of $1,500,000 notes due Nov. 1 1917.
They originally matured Nov. 1 1919 but
mattoon, ill.
CENTRAL ILLINOIS PUBLIC SERVICE CO.
Controlled by Middle West Utilities Co., which see In our "Railway &
Section.
Industrial**
ORGANIZATION.—Incorporated in Illinois In 1902.
Does an""electric
light, power, water, gas, heat, Ice, street railway and interurban business,
supplying electrical energy to 181 communities in central and southern
Illinois.
These communities have an estimated population of 350,000.
In
addition to the supplying of electrical energy to these communities, 8 are
served with gas, 12 with water, 12 with ice, 8 with heating and 5 with street
railway service, an interurban line being operated between Mattoon and
Charleston,
Illinois.
Interest.
Date.
Q-J
—
mortgage) 1912
3.810,500 Oct. *19,1
11.503.000
Aug 1 19
5 F-A
Debentures
/
I
1 1952
733.000
110,000
____
Collateral gold notes
7 g M-S
7 g J-D
1918
1918
Stock.—Pref. stock is red. at 110 and dlv.
1923
Is being paid
on
Has full
preferred
EARNINGS.—For calendar years:
Years end.
Gross
Net after
Other
Dec. 31.
Earnings.
Taxes.
Income.
1919-
—
1918x
-.$4,113,620 $1,122,355
2.955,171
871,720
Adjustments resulted i;i
$51,796
85,834
surplus after
stock.
Interest
Pref. Divs. Balance,
Ac.,Chgs.
(6%)
Surplus.
$908,186 $230,130
$35,835
736,101
223,081
xdef.1,628
preferred div. of $6,671.
VU108Bp Yl67Jri5f3~V' 105, P' 91°: V' 106'
P' 497' 931' 1036> 22275
chunk, pa.
CHUNK & LEHIQHTON TRANSIT CO.—A trolley road.
ORGANIZATION.—Organized in 1919 as successor to the Carbon
Transit Co. (for history see "Electric
Railway Supplement" of Mar. 29
1919) sold at foreclosure on Jan. 20 1919.
V. 108, p. 377.
—
Date.
Interest.
Carbon
Transit Co
Outstanding.
$150,000
..
$50,000-.
40-yr bonds $150,000
7%
-...
1st
mtge/
—*
call at 105 and int.
*„„„
on
Int. date.
any
ROAD.—Comprises 12H miles of track, 24 cars,
Owns about 425 acres
acres on "Flagstaff Heights."
OFFICERS.—Pres., Ben Branch; V.-P., Wm. Dods; Treas., Dr. Geo. H.
Mayer; Sec., V. M. Wolff; Compt., C. A. Secor.—V. 108, p. 2629.
of real estate, incl. 75
memphis,
MEMPHIS STREET
American
Cities Co.
Interest
H.
on
owns
87%
Tutwiler
common
and
and
Frank
S.
petition of the American
Payments.—The int. due Jan. 1 1919
was
ORGANIZATION.—Chartered In Tennessee on March 28 1895 and con¬
solidated with the Citizens' St., East End St.,
City & Suburban and Memphis & Raleigh Springs lines; franchiser
mn
until Nov. 1945.
The Supreme
Court has confirmed the co.'s franchises in all
respects. Including the right
tq charge 5-cent fare.
(Compare V. 85, p. 654; V. 100,
p.
ana
1752.)
Owns
operates the entire street railway business of the city, lncl. suburbs of
Blnghamton,
View, Miss.
Raleigh
Springs and
South
Memphis and
a
line
to
Lake
In Mar. 1913 purchased the
property (excluding the building owned! n
Memphis and the car barns) of the Lakeview Trac. Co. (sold at foreclosure
city,
ind.
BEND RY.
ORGANIZATION.—Organized in Indiana December 1901.
No securities in hands of public.
All owned by syndicate, which has
used them as collateral only
On July 12 1918 issued $28,000 bonds (not incl. in table)
the treasury for betterments.
Compare V. 106, p. 2755.
STOCK AND BONDS—
Common $5,000,000 ($100)
Date.
to reimburse
,
Interest.
Outstanding
Maturity„
$5,000,000
Pref $1,000,000 ($100) 6% n-c
1,000,000
1st mtge $6,000,000 ($1,000)/ 1907
5 F-A 15
4,307.000 Aug 15 1947
gold
tf 1 Interest at Cleveland Trust Co., Trustee,
Equipment bonds, gold (SI,-/ 1908
6 M-N
50,000 Past due
000)
c\Int. at Cleveland Trust Co.. Trustee.
Bonds.—Remaining bonds are reserved for future extensions and Im¬
provements.
They are subject to call at 102H at any Int. period.
Sink,
fund of $50,000 per annum began Aug. 15 1917 for 10 years, theD
2% of
bonds outstanding until maturity.
EARNINGS.—For year end. Dec. 31 1919, gross, $803,327; net, after
taxes, $59,383.
In 1918, gross, $763,782; net, after taxes, $116,782.
ROAD.—Operates a total of 70.86miles between South Bend and Chi¬
cago; 6.3 miles Hammond to Kensington, owned by Illinois Central RR.,
Is leased to Chicago Lake Shore & South Bend.
70-lb. T-rail.
OFFICERS.—Chairman, F. H. Goff; Pres. and Gen. Mgr.. O. N. Wilcoxen; Vice-Pres., S. H. Tolles; Sec. & Treas
R. R. Alexander.—V
86'
p.51. 167, 420, 1528; V. 98. p. 386; V. 106. D. 2755.
middletown, n. y.
WALLKILL TRANSIT CO.
«•
the
on March
30 1905 as
under foreclosure, to the Middletown-Goshen Electric Ry
and
Middletown-Bloomsburg Elec. Ry.
See V. 80,
p.
1059, 1425.
Com-
f>any was placed in hands of receiver Oct. indebtedness having been paid off,
njurles obtained by a motorman. but all 1908 on account of a judgment for
receiver
was
discharged April 23 1909.
STOCK AND BONDS—
Date.
Stock $350,000 ($50)
1st mtge $350,000 gold ($100,7 1905
Interest.
Outstanding.
Maturity.
$350,000
300.000 May 11935
_______
5 g M-N
$500 and $1,000)—.
c*tf(Int. at Com'w'lthTr.Co..Harrisburg, Trust.
Bonds.—$50,000 reserved for future Improvements.
Are subject to call
after 10 years at 105.
EARNINGS.—For year ending Dec. 31
on the consol. mtge. 5%
paid in May 1919, together with 5 mos. int. at 5% on the deferred
payment.
V. 108, p. 2241.
Compare V. 108, p. 1511.
The July 1 1919
int. on this issue was paid Sept 2 1919.
V. 109, p. 982.
The May 1 1919
int. on the 2-yr. coll. notes was paid In June 1919 together with int. at
6%
for 1 month on the deferred payment.
V. 108, p. 2330.
Subsequent int.
had been paid when due up to April 1 1920.
Committee for 2-yr. Coll. 6% Notes .—Chairman, Mortimer N.
Buckner;
J. C. Neff, S. F. T. Brock, Charles Counselman, George T.
Ordway, John
A. Langan; Secy., Boyd G. Curts, 26 Broad St., N. Y.
City.
Depositary:
N. Y. Trust Co., N. Y.
Sub-Depositaries: Fidelity Trust Co., Phila.;
Illinois Trust & Savings Bank, Chicago.
Deposits have been called for.
V. 108, p. 1511.
bonds
michigan
tenn.
RAILWAY CO.
(see under New Orleans)
88% preferred stock.
Receivership.—On Jan. 20 1919 Pres. T.
Elgin were appointed receivers for the co.
Cities Co.
V. 108, pi. 378.
Surplus.
def.$55,916
328 passenger and 27 miscellaneous cars
OFFICERS.—Pres. & Gen. Mgr.. Thos. H. Tutwiler; V.-P., L. E.
Wright; Sec. & Treas., L. LeMay.—V. 108, p. 1511, 1721, 1936, 2241,
2330, 2433; V. 109, p. 982: V. 110, p. 167. 360, 970. 1290.
successor,
6%
100,000
1959
5 g F-A
150,000 Aug. 1 1933
at Mauch Chunk Trust Co., Trustee.
are
$582,675
since.
ORGANIZATION.—Incorporated In New York
1919
Bonds.—1st 5s of the Carbon Transit Co.
$2,038,190
-
none
Int.Oth.Deduc.
$638,591
1917
2.130.116
807,754
532.556
275.198
Latest Earnings.—For year end. Dec. 31 1919, gross, $2,675,110; net,
after taxes, $846,112.
In 1918, gross, $2,034,325; net, after taxes, $578,810.
ROAD.—Owns 130.4 miles of track
Ralls. 60 to 80-lb. T to 107-lb.
Maturity.
37.500
1908
$150,000($100&$500)g__c*tf\Int.
In 1914. June. >4%; Dec., 2H%',
REPORT.—For year ending Dec. 31:
Gross Earns. Net aft.Taxes, Ac.
Year,
.
MAUCH
Preferred
They art capable as a whole on 30 days'
by $1,416,000 consol. mtge. 5s and
CHICAGO LAKE SHORE & SOUTH
70.000 h. p.
OFFICERS.—Chairman of the Board. Samuel Insull; Pres., Marshall
E. Sampsell: V.-P., J. Paul Clayton; Sec., P. A. Erlach;
Treas., C. E. Cripe.
STOCK AND BONDS—•
Common $150,000-.
year.
Secured
,
March, 1%; Dec., 1%.
Tax-
voting power,
PROPERTY,&c.—The co. operates over 1,355 miles of high-tension trans¬
mission lines, 8 central stations, holds 8 stations In reserve and has con¬
tracts for power from 4 other central stations.
Total available capacity,
mauch
one
int.
Dividends.—On pref. stock 5% was paid from Issuance up to and Includln g
Dec. 1914.
In 1915, none.
In 1916, Dec., 2H %.
In 1917. June. 2H %.
None since.
On common, first div.—1%—paid
June 1912.
In 1913,
Registrar, 111. Trust <fc Savings Bank, Chicago.
Chicago, trustee.
Dividends.—6%
100and
300,000 Mar 1 1921
150,000 June 1 1921
Bonds.—The first acd ref. bonds are red. at 105 on any Interest date.
Additional bonds may be Issued under certain restrictions.
See V. 95, p.
1744.
For security of bonds, see V. 103, p. 1887.
Cont. Sc Comm. Trust
Ji Say. Bank,
at
$512,000 6s.
girder.
c*tf/Interest payable In Chicago.
1917
6g J-D
856,000 Dec
Underlying bonds (closed Issues)...
xemptl n Illinois.
Maturity
Outstanding.
$7,250,000
Pref 6% cum$l0.000,000($100)
First and refunding
gold ($1,000)
notice
1918
.
STOCK AND BONDS—
Common $10,000,000 ($100).
General mortgage gold
have been extended for
1918. gross, $70,198; net, after
taxes. $67,270; net corp. deficit, $4,519.
In 1917, gross, $69,398; net. after
taxes, $10,319; net corporate deficit, $5,211.
ROAD.—Operates 12.84 miles of track extending from MIddletown,
N. Y.. to Midway Park, Goshen, Including switches,
turnouts, &c.
Rails
65-lb. T and 80 and 90-lb. girder.
Standard gauge.
OFFICERS.—Pres. A. C. Stamm,
Harrisburg.
Pa.;
Treas.,
W.
M.
HarrLsburg, Pa.; Sec., J. F. Weiss
Oglesby, Harrisburg, Pa.; Gen. Mgr.,
1059,1425,2346.
W. M. Gould; Aud., Miss M. L. Robinson.—V. 80,
p. 998,
milford,
mass.
MILFORD & UXBRIDGE STREET RY.—Trolley.
ORGANIZATION.— Incorporated in Massacnusetts In
10
1901.
On July
1902 consolidated by purchase of entire capital stock with the
Milford
HpHIston & Framingbam St. Ry.
Operates the Grafton & Upton RR.
(V. 104, p. 73, 163) from Milford to North Grafton. 15.37 miles, and the
Med way & Dedham St. Ry.. 21 miles.
Fare Increases.—In 1919 was auth. to increase fares from 7 to 8 cents
and
workmen's tickets to 15 for $1,
Effective March 22 1920, was auth. to
increase fares from 8 to 10 cents on
V. 110, p. 1415.
8TOCK AND BONDS—
Date.
Stock com $440,000 ($100)—
some
lines and to sell 12 rides for $1.
Interest.
Outstanding.
Maturity.
5440,000
See text
100,000
See text".
mtge./ 1898
7 g J-J
,
165.000 Jan
11923
$165,000 ($1,000) g—c*ntfilnt. at Amer. Trust Co.„ Boston, Trustee.
MIl/ord & Uxb gold bonds/ 1902
7 g J-J
335,000 Jan
11923
t$1.000) gold
c*ntf.Int. at Amer. Trust Co.. Boston. Trustee
Preferred $100,000 ($100)
M. Holl. & Fram. 1st
The above bonds
were
A-O
J-J
originally 5s and fell due Jan. 1 1918, but
extended to Jan. 1 1923 at 7%.
were
in 1911, 5%; in 1912 and to and incl.
On com., in 1901 to 1903, 6%; 1904,
Dividends.—On pref., in 1910. K%;
1918, 6%
per
ann.
None since.
1}6%; 190/, 3%; 1908, 1%; 1909, 3%; 1910 and 1911, 4%; 1912, 5H%;
thereafter to Oct.
1916, 5% per annum.
None since.
EARNINGS.—For fiscal years:
Gross
Net (after DeducPf.Div.
Year
Com.Div.
Balance
tions.
(6%).
(5%).
Surplus.
$45,175
$4,827
45,518
6,000
——
def.l, 109
30.917
6.000
12.034
ROAD.—Owns 36 miles of track, from So. Framingham to Uxbridge and
from Milford to Medway and Hopkinton.
Also operates the Grafton &
Upton RR., from Milford to North Grafton, 15.37 miles, and the Medway &
Dedham St. Ry., 21 miles.
Also controls Lake Nipmuc Park.
60 pas¬
senger cars. 13 snow plows and 4 miscell.; 134 electric motors.
OFFICERS.—Pres., D. E. Manson, Boston, Mass.; V.-P., & Sec.,
Wendell Williams. Milford, Mass.; Treas., J. E. Walker. Milford; Supt.,
W. L. Adams, Milford, Mass.—V. 107, p. 1101; V. 110, p. 1415.
ending—
Earnings.
Taxes).
31
1919—S346.728
$50,002
Dec. 31 1918
50,410
324,378
Dec. 31 1917
315.091
48,951
Dec.
Outstanding.
Maturity.
$400,000 gold] 1894
5 g F-A
208,000 Aug 1 1914
($1,000 each)
__c*/lnt. at Land Title & Trust Co., Phlla., Trus.
Bonds.—Not subject to call.
EARNINGS.—For cal. year 1919, gross, $75,046; def. from operation
(aft. taxes), $12,172.
In 1918, gross, $60,801; def. from operation
(aft.
taxes), $26,226.
KOAD.—Operates 6.47 miles of track In Millvllle, 0.536 miles In Vlnelapd
and 5.541 miles In Township of Landis: total, 12.547 miles.
OFFICERS.—Pres., George Wogd; V.-Pres., R. D. Wood; Sec., G
H
Thomas; Treas., Daniel C. Lewis.
mortgage
197
MILTON,
PA.
LEWISBURG MILTON & WATSONTOWN PASS. RY.—Trolley
ORGANIZATION.—Chartered Sept. 3 1897.
In 1910 Whlttaker &
DIehl of Harrlsburg purchased control from the Railways Company General.
Under contract with Penn. RR., the Lewisb. Mil. & Watsont. Pass. Ry.
agreed to Install storage-battery cars on some 11 miles of track between
Montandon and Mifflinburg, and to operate a line In conjunction with
steam use of that section of road, connecting with present trolley line at
East
Lewisburg.
STOCK AND BONDS—
Stock
Interest.
Date.
Outstanding.
Maturity.
$150,000
$150,000.-
1910
5 g F-A
175.000 Feb 1 1940
($500)
c*/Int. at Land Title& Tr. Co., Phlla., Trustee.
Bonds.—Remaining bonds can only be issued for improvements and ex¬
tensions at 80% of cost.
Sub. to call as a whole on any Int. date after
First mortgage
Feb.
1920
at
$300,000 gold 1
par.
EARNINGS.—For
12 months end.
Dec. 31
1919, gross, $63,563: net.
after taxes, $7,991.
In 1918, gross, $68,406; net, after taxes, $11,437.
ROAD.—10 miles of track between points named in title.
12 overhead
operation cars, 2 storage battery cars run from Montandon to Mifflinburg.
OFFICERS.—Pres., John F. Whlttaker; V.-P., L. G. Brown; Sec. A
W. B. Rankin.—V. 90. p. 1363.
Treas.. D. L. DIehl; Asst. Sec. & Treas.,
■
i
.
WIS.
MILWAUKEE,
INC.
ORGANIZATION.—Incorp. in N. Y. on Nov.
THE WISCONSIN EDISON CO.,
North American Co.'s holdings in
7 1912 to take over the
Milwaukee and other Wisconsin public
utilities.
Owns or controls, through stock ownership, the following cos.:
Milwaukee Light, Heat & Trac. Co.lNorth Milwaukee Light & Power Co.
Milwaukee Elec. Ry. & Light Co.
Wisconsin Gas <fe Elec. Co.
i
Wells Power Co.
(
Apr. 29 1914 the company filed a certificate of increase of capital
stock from 300.000 to 400.000 shares, to provide for conversion of the con
▼ertlble bonds.
STOCK AND BONDS—
Date.
Interest.
Outstanding,
Maturity.
On
Stock 400,000
shares
(no
par
215,000sh.
value)
See text
($1,000.
.
c*tf 1914
6 g M-N
6.500,000 May 1 1924
Debentures convertible into stock at $80 per share to May 1 1923; red.
At 102 on 60 days' notice.
V. 98, p. 1128.
Dividends.—A dlv. of $1 75 was paid June 1 1914; In Dec. 1914 also paid
$175.
In 1915, June, $1 75r Dec.. $1.
In 1916. June. *1 75; Dec.. $1 75
and 75c. extra.
In 1917, Apr., $1: July, 50c.: Dec., $1 50.
None until
Dec. 1918 when $2 was paid.
In 1919, July, $1; Dec., $3.
REPORT.— For cal. years (cornbinea properties)
Calendar
Operating
Net (after
Non-Op.
Interest
Balance.
Years—
Revenues.
Tares, <%c.). Revenue.
Charges
Surplus
1918
$14,409,887
$2,785,896 $182,458 $1,869,368 $1,098,986
11,962,520
3,016,006
151,886
1,575,568
1,592,324
Income Account of Wisconsin Edison Co.
Calendar
Divs.&Int. Exp..Int.&
Net
DiviBalance,
Year—
Received.
Taxes.
Income.
dends.
Surplus.
$10,000,000
$500 and $100)
Debens
1919J
$1,548,714
$588,280
$960,434
$860,000
$100,434
1,197,275
668,119
529,155
430,000
99,155
1917
1,446,411
617.376
829.035
645.000
184.035
OFFICERS.—Pres., Jas. D. Mortimer; V.-P., H. H. Pierre and Edwin
Gruhl; Sec., James F. Fogarty; Treas., ...
; Asst. Sec., Robt.
Randall: Asst. Treas., Robt. Sealy and Ferdinand Sherwood.—V. 104, p
2123; V. 105, p. 1809; V. 106, p. 603, 614, 1236, 2458.
1918
(1) The Milwaukee Electric Railway &
Co. Jan. 29 1896
Feb. 11 1919 acquired the property, &c. of
Traction Co.
(for history see "Electric
1919) subject to that co's. $5,000,000 1st
Compare V. 106, p. 919; V. 108, p. 171.
Embraces practically all
the street railway lines in Milwaukee.
The
company, besides its street railway system, owns and operates an electriclight and power system and a central-station steam-heat system in Mil¬
waukee serving a population now estimated at 450,000.
Does an extensive
street and interurban railway and elec. light and power business, serving
South Milwaukee, Cudahy, Racine, Kenosha, Wauwatosa, North Mil¬
waukee, Whitefish Bay, Fox Point, West Allis, Waukesha, Pewaukee,
Hartland, Oconomowoc, Watertown, St. Martins, Muskego Lakes, Mukwonago, East Troy, Waterford, Rochester and Burlington.
Entire com¬
mon stock is owned by the Wisconsin Edison Co.
In April 1917 acquired
the electric utility of the Commonwealth Power Co. and the heating utility
of the Continental Realty Co. and issued $1,450,000 Serial 5% notes in
per plan in V. 60, p. 1009.
On
the Milwaukee Lignt, Heat &
Railway Supplement" of Mar. 29
M. 5s due 1929.
V. 109. p. 72.
connection therewith.
V. 106, p. 919.
The railway franchises of the company run
until Dec. 31 1934.
V. 70.
Electric-light and power franchises are unlimited in time.
1917 the Wise. RR. Comm. submitted its report
on the valuation of the physical properties of the Milwaukee Elec.
Ry.
& Lt. Co. and Milwaukee Lt., Ht. & Trac. Co., showing a reproduction
cost for both properties as of Jan. 1 1914of $37,319,297; capital expenditures
to Jan.
1 1917, $3,206,700; total, as of Jan. 1 1917. $40,525,997 (not
Including any allowance for working capital or going value).
V. 105.
p. 1309.
On the basis of the valuation of Jan. 1 1914, plus subsequent
capital expenditures, the estimated reproduction cost of the companies
as of Dec. 31 1918 was $45,803,154.
V. 108. p. 1511.
On Jan. 30 1915 the Wise. RR. Comm. rescinded Its order of Aug. 23
1912, requiring the sale of tickets in packages of 13 for 50 cents Instead of
25 for $1.
On Jan. 22 1918 Judge E. Ray Stevens in the Dane County
Circuit Court handed down a decision in the litigation involving the validity
of $193,000 of coupons issued with tickets during the time the order was in
effect,
declaring the Commission's order to have been unreasonable.
V. 106, p. 396.
On May 27 1919, however, the State Supreme Court
handed down a decision upholding the Comm's. order.
The co. has an¬
nounced that it will not make further appeal and will redeem coupons
Issued in lieu of the extra tickets, ordered by the Comm., while the case
was on appeal, at 4 cents each in cash.
V. 108, p. 2433.
On June 2 1919 the Common Council passed a resolution auth. the City
Attorney to bring action to compel the co.. to seek a franchise for operation
of its interurban cars.
V. 108, p. 2433.
In Jan. 1920 Judge Fairchild
ruled that the co. cannot run interurban cars into the city because it has
no franchise for this purpose.
V. 110. p. 465. The co., however, obtained
a stay of execution for 90 days.
V. 110, p. 658.
39.
Valuation.—In Sept.
to whatever extent necessary to enable the co. to earn 7}4% return on its
railway utility investment.
Zone fares were increased from 2 cents per
mile to 3 cents.
Interurban passenger rates were also increased as a result
of this order.
V. 109, p. 1793.
In Jan. 1920 Judge E. Ray Stevens of the
Dane County Circuit Court ordered the Wise. R. R. Comm. to reconsider
the above order.
V. 110, p. 261.
Effective Feb. 3 1920 the Comm.
ordered the co. to sell 9 tickets for 50 cents.
This ruling is a permanent
order superseding and modifying the order of Oct. 30 1919, the rates re¬
maining otherwise the same.
V. 110, p. 658.
Rate Increases.—V. 105, p. 1802, 1898.
In Sept. 1918 the Wise. RR.
Comm. approved the co.'s application for emergency increases In electric
light and power and steam heating rates.
V. 107, p. 1192.
Early in 1919 the company brought out an issue of $3,600,000 5-year
secured 7% notes.
V. 108. p. 171; V. 109. P; 1080.
Reports state that the co. has sold $2,000,000 3-year 7% notes to the
Harris Trust & Savings Bank and Spencer Trask & Co. for the purpose of
refunding a like amount of notes due May 1 1920.
Date.
STOCK AND BONDS—
stock
Common
Interest.
Outstanding.
Maturity.
$20,000,000
*$11,450,000
(par $100)
Preferred
stock
$4,500,000
6% non-cum (par $100)
Milwaukee Elec Ry &f
The
1896
4,500,000 Apr '20,1H
6.500.000 Feb 1 1926
5 g F-A
Light Co cons, mtge $8,-(Central Trust Co. N. Y., Trustee. Int. pay000,000gold ($1.000)
c*[ able at co's office, 30 Broad St., N. Y.
The Mllw Elec Ry & Light} 1906
4^gJ-J
6,728,000 Jan 1 1931
Co ref & ext M__ $20.000.-(Trust Co. of America. New York. T-ustee
Int. at co.'s office, 30 Broad St., N. Y.
1911
5 J-D
5,819,000
See text
gold ($1,000) Ser "A".c*tf [Int. at N. Y. Bankers Tr. Co., N- Y..Trus.
Secured notes $3,500,000 gold/ 1918
7 g M-N
2,000,000 May 1 1920
($500 and $1,000)
c*\Bankers Trust Co., New York, Trustee.
Secured notes $3,600,000 gold} 1918
7 g M-N
3,600,000 Nov 1 1923
000 gold ($l,000)closec! c*l
ref mtge $90,000,0001
Gen &
($50,$100,$500&$1,000).c*-lFirst Trust Co., Milwaukee/trustee.
1916
5%
1.150.000
See text.
1899
5 g M-N
5,000,000 May 1 1929
gu $5,000,000 ($1,000) g.c*l Int. at Equitable Trust Co., N. Y., trustee.
Milw Lt H & Tr Co gen Mj 1918
6%
See text
Nov 1 1958
$4,500,000 gold__
(After Nov. 1 1923 bear int. at rate of 5%.
Notes. $1,450,000 ($1,000)--Mllw Lt H & Tr Co 1st M gf
and issuable.
♦Issued
Stock and Bonds.—The
/
bonds and the pref. stock are
listed on the N. Y.
Of the ref. and ext. bonds, $6,and $6,772,000 are deposited as collateral
to gen. & ref. mtge. bonds.
Bonds are subject to call since Jan. 1 1916 at
108 and interest.
No sink. fd. See V. 81. p. 1724, 1792; V. 84. p. 508.
Gen. & ref. mtge. falls due Dec. 1 1951. except that in the event the co.
has not acquired a franchise extending to 1954 on or before Dec. 1 1931,
the mortgage becomes due on that date.
Bonds of Series A are redeem¬
able on any Interest date at. 105 and interest, on 6 weeks' notice.
$13,228,000 are reserved for prior liens; remaining $66,953,000 are for extens., impts.
and acquisitions, at 80% of cost thereof under certain restrictions.
No
sinking fund.
See V. 93, p. 1787.
Bonds listed on N. Y. Stock Exchange.
$6,772,000 ref. & ext. bonds pledged as collateral for the gen. &ref. bonds.
The Milw. Lt, & Tr. Co. 1st M. bonds may be called at 110 on any int.
date.
They are guar., prin. and int., by endorseemnt, by the Milwaukee
Elec. Ry. & Light Co. (Y. 86, p. 1042).
Income tax withheld at the source
at the rate of 4% when owned by a foreign corporation.
The $4,500,000
gen. mtge. bonds of the Milw. Lt. Ht. & Tr. Co. are pledged as security for
the $3,600,000 5-yr. 7% notes of the Milwaukee Electric Ry. & Lt. Co.
V. 108, p. 171.
Notes.—The 5% notes of 1916 are secured by $1,000,000 gen. & ref
bonds.
They mature $150,000 on each July 1 to July 1 1926.
$300,000
have been paid off.
The 2-year 7% notes are secured by $3,000,000 gen. &
ref. M. bonds.
The remaining $1,500,000 notes are issuable under certain
restrictions and only when they are secured by gen. & ref. mtge. bonds in
the ratio of 150%, or against the deposit with the trustee of cash equal to
the face value of the notes to be issued.
Callable on 4 weeks' notice at
tnt
«« Nov. t 1Q18. and on any int. date thereafter at 100V4 and
mtge. is closed.
1st cons.
Stock Exch.
500,000 are reserved for prior liens
office in New York.
6% gen. mtge.
of bonds for
each $100 of notes.
Conv. at option of holder at par and int. into the
Milw. Lt., Ht. & Trac. gen. mtge. bonds (later to be assumed by the com¬
pany) pledged as collateral for this issue, on the following bases: Nov. 1
1919 to Nov. 1 1920, 93 and int.; Nov. 1 1920 to 1921, 94 and int.; Nov. 1
1921 to 1922, 95 and int.; Nov. 1 1922 to 1923. 96 and int.: Red. on four
int.
106, p.
V.
Int. payable at company's
2229.
7% notes are secured by a deposit of 40-year
bonds of the Milw. Lt.. Ht. & Trac. Co. in the ratio of $125
The 5-year
and int. prior to Nov. 1 1921.
V.
Dividends.—Regular quarterly dividends of 1% % have
weeks' notice at 101
pref. since Feb.
108, p. 171.
been paid on the
1900.
REPORT.—Fiscal year ending Dec. 31:
*1919.
*1919.
1918.
$14,888,446 $8,955,595 Gross income_$3,481,612
2.060,343
Expenses
9,533,061
6,248,210 Interest
270,000
Deprec'n, &c
1,198,098
372,725 Preferred divs
Taxes
-•
821,215
526,892 Common divs.
Gross
...
1918.
$1,942,060
1.224,258
270,000
620,550
$3,336,072 $1,807,768 Balance -_sur.$l ,151,268def$l72748
145,540
134,292
*Incl. earnings of Milw. Lt., Ht. <te Trac.
Revenue passengers carried in 1919, 146,208,335, against 129,240,334
Net.
Other income
d
Light Co.
ORGANIZATION.—Successor of Milwaukee St. Ry.
p.
auth. the co. to
system.
The Comm. auth. an increase in the single fare area from 5 to 7
cents cash and the sale of 18 tickets for $1 and 6 tickets for 35 cents.
The
order was tentative and charge intended to be varied upward or downward
$175,000
$175,000
RR. Comm.
straight 5-cent fare, eliminating the sale of tickets at 6 for 25 cents
V. 106, p. 2450.
In July 1918 was further auth. to increase
interurban fares from
cents to 3 cents per mile and suburban fares from
30 tickets for 50 cents to 30 tickets for 60 cents.
V. 107, p. 82.
On Oct.
30 1919 the Wise. R. R. Comm. reaffirmed the principles of the zone fare
a
and 25 for $1.
MILLVILLE, N. J.
1st
the Wis.
1918
Increase.—In June
Fare
charge
-
MILLVILLE TRACTION.—A trolley road.
STOCK AND BONDS—
Date.
Interest.
Stock
71
ELECTRIC RAILWAYS
Ape., 1920.]
51,287,831 against 46,560,391.
ROAD.—Total track owned 402.40 and 1.05 miles leased.
Steam power
plants have an aggregate capacity of 105,150 k.w.
716 passenger cars.—
V. 108. p. 973, 1269, 1511, 2433; V. 109, p. 72, 1080, 1793; V. 110, p. 261.
in 1918;
transfer passengers,
465, 658.
(2> Wisconsin Gas &
Electric Co.
ORGANIZATION.—Succeeded in 1912 the Racine Gas Light Co. In¬
corp. In Feb. 1867) and acquired the Kenosha Gas & Electric Co. and Ke¬
nosha Electric Ry.
Does entire gas business In Racine, Kenosha, South
Milwaukee, Cudahy and Watertown; the entire electric lighting, power and
street railway business In Kenosha, and the electric light and power busi¬
ness in Watertown, Burlington. Lyons, Springfield, Johnson s Creek. Jef¬
ferson Junction, Menominee Falls,
Lannon, Corliss, Clyman and Thlensville, and wholesales power for supply to Fort Atkinson, Lake Mills, White¬
water, Palmyra, Lake Geneva, Delavan and Elkhorn.
Electric Hght and
power business in Kenosha is done under indeterminate permit.
Franchise
for street railway extends until 1952.
The company has the right to con¬
duct its gas business either under an indeterminate permit or under the
special (perpetual.and exclusive) franchises originally granted.
In July 1915 increased auth. common stock from $1,000,000 to $1,750,000
and issued $657,500 of the new stock to acquire the Watertowxi Gas & Elec.
Co. and the Burlington Elec. Lt. & Pow. Co. (both controlled by the Wis¬
consin Edison Co.) and to discharge $162,000 floating debt incurred in mak¬
ing additions and betterments.
Rates— On Oct. 9 1917 was auth.
■
.
by the Wise. RR. Comm. to increase
effective Sept. 15 1917. from 20 cents to 27>a
square foot of radiation per year.
^
1918 sold at par direct to the public $2/6,150 6 H % 5-year secured
heating rates in Kenosha,
cents per
In Oct.
V. 107. p. 1389.
Sept. 1919 the acquisition
notes.
In
Racine
was
STOCK AND BONDS—
Com stock
,.
,
of the company s gas
-
plant by the city of
approved at a referendum.
$1,750,000 ($1.00)
Date.
Interest.
Outstanding.
Si.747.500
Maturity.
6%
500,000 ---------First mortgage gold ($1,000? 1912
5 g J-D
3.287,000 June 1 1952
&
$500)c*(Int. payable at office of co. in N. Y. Harris
I Trust & Savings Bank. Chicago. Trustee.
Secured notes
1918
6K%
27,64,\5,?nr»
moi
Watertown Gas <& Elec 1st M I
1905
5 J-D
130.000 June 1 1921
$300,000
gold.
Red
at(Int. at Bank of Watertown.
Wisconsin
102H
I
Trust Co., Milwaukee. Trustee.
'
Bonds.—Additional 1st M. bonds may be issued only for 80% of cash cost
of permanent impts., &c., when the annual net earnings are 1 ^ times the
Int. charge, incl. bonds to be issued.
Bonds red. at 105 and int. since
Pref cum 51.600.000
-
($100)
-
ELECTRIC
72
June 1
are
1917.
held in
Income tax
$27,000 of the Watertown G
<& E. 5s reported outstanding
on any int. date.
when owned by a
secured by a collatera
!■ ' /"•■
treasury.
Are callable at 102and int.
withheld at the isource at the rate of 4%
foreign corporation.
The 5-year secured notes are
deposit of first mortgage bonds.
EARNINGS.—For year ending Dec. 31:
Year—
Gross.
Net (after Tax.) Oth. Inr
Interest.
$2,451,271
1918
$311,338
304,861
*
Surplus.
$210,912
$145,912
209,014
$45,486
2,106,440
1919*--
124,498
28,651
1917
1,510,679
310,246
31,068
181,695
159,559
PROPERTIES.—Miles of single track. 7.851;miles of gas mains. 203.
OFFICERS.—Pres., J. D. Mortimer; V.-P.. S. B. Way; Sec.-Treas.,
F. J. Boehm; Asst. Sec., J. F. Fogarty; Asst. Treas., Robt. Sealy; Gen.
Mgr., D. E. Callender: Aud., E. Jorgensen.—V. 102, p. 1352; V. 103, p.
1432; V. 104, p. 1806; V. 106, p. 2458; V. 107, p. 1389.
198
WISCONSIN TRACTION,
LIQHTTHEAT
& POWER CO.
Milwaukee in
to $1,000 9Q0).
River Valley.
Secured control of the Fox River Valley Electric Ry. and the Appleton
Electric Light & Power Co., and has consolidated them.
In Sept. 1904
purchased entire capital stock of the Fox River Valley Gas & Electric Co.
and guarantees its bonds, prin. & int.
See V. 79,lp. 787, 1267.
In Mar. 1914 the Wisconsin Supreme Court sustained the State RR.
Comm. in holding, in company's suit against the city of Menasha, that tne
city cannot do a commercial lighting business in connection with its own
street-lighting service without the necessary authority from the Commission
V.
98. P. 764.
Fare Reduction.—In April 1919 the co. reduced the rate of fares
Menasha and Appleton, Wis., from 20 to 15 cents.
V. 108, p.
STOCK AND BONDS—
Stock
Date.
$1,000,000 ($100)
__
$350,000 ($1,000)
Interest.
Maturity.
$699,400
See text
1,500,000 July 1 1931
First Trust Co., Milw., Trustee.
350,000 April 1 1921
5 g A-O
gold.-_c/Merchants' Loan & Trust Co., Chic., Trust.
Bonds.—Entire issue of Wisconsin
Traction, Light,
heat &
bonds may be called on any interest date at 110 and interest.
River Valley bonds are subject to call at 105 and int.
Dividends.—In
annum.
between
1391.
Outstanding.
Q-J
5 g J-J
1914 and to and Incl. Jan.
Power Co.
The Fox
None since.
Balance.
def.$53,578
34,940
sur. 16,450
(Railway Dept. only):
Eoss, $228,619; net, after taxes and deprec., $37,910; other income, $1,867;
terest, $41,569; balance, def., $1,792.
ROAD.—Operates 15.92 miles of track, connecting Neenah, Menasha.
Appleton and Kaukana, 3.57 miles locally in the city of Appleton and 2.03
miles sidings and turnouts; total,
and power and gas to Appleton,
21.52 miles.
Also furnishes electric light
Neenah and Menasha.
OFFICERS.—President, John I. Beggs; Vice-Pres., Chas. F. Pfister
Milwaukee; Sec. & Treas.
A. K. Eliis.—V. 91, p. 96,1770; V. 98, p.
764; V. 101, p. 1093; V. 108, p. 1391.
466.
ROAD.—On Dec. 31 1919 comprised 452.65 miles
MINNEAPOLIS, MINN.
TWIN CITY RAPID TRANSIT.—A holding company.
ORGANIZATION.—Organized under the laws of the State of New Jersey
June 3 1891 and by virtue of Its stock ownership of the underlying com-
Sanies (to wit, Minneapolis St. Ry. Co., The St. Paul City Ry. Co., the
linneapolis Lyndale & Minnetonka Railway Co. and The Minneapolis
cipal streets of the cities 90-lb. T rail with welded Joints.
Power.—The company leases water-power at St. Anthony's Falls (ca¬
pacity 22,000 h. p.), which power is now used in conjunction with power
generated at new steam power plant to run the entire railway system In
both cities.
See V. 64, p. 704.
867.
•
1918.
1917.
1916.
188,930,268 199,621,160 199,848,096
67,985,059
73,678,873 ^74,42o,935
Receipts from transp'n_.$l 1,351,739
$9,618,501 $10,119,755 $10,130,113
Rects. from oth. sources.
141,739
92,694
87,958
84,366
ANNUAL REPORT.—Report for 1919 was in V. 110, p.
St. Paul Suburban RR. Co.) controls the entire street railway system
Minneapolis, St. Paul, Stillwater, and lines to Excelsior, Tonka Bay and
Deephaven at Lake Minnetonka.
In 1906 absorbed the North Side Street
Ry. (Robbinsdale line) and the St# Louis Park line; V. 83, p. 1472.
In
1905 articles of incorporation were amended so as to make the charter
V. 80. p. 1914.
Settlement with
City of St. Paul.—For decision
as
to right to build
Total
$11,493,478
receipts
7,003,974
6,723,520
6,254,643
$3,048,420
2,216,785
$2,707,221
$3,484,193
1,908,921
$3,959,836
1,695,655
Divs.
on
Divs.
on
&c__
an
ordinance passed by the City Council in May
1910 ordering the St.
St. Clair Ave., branching from
in connection with franchise matters, see V.
105,
p.
1523, 2185; V.
106
716; V. 108, p. 380, 683.
Extension.—In June 1918 holders of 1st M. bonds of the Minn. Lyndale
Minnetonka Ry. and 1st cons. M. bonds of the Minn. St. Ry., due
Jan. 15 1919, were given an
opportunity of extending same to Jan. 15 1922
at 7% from July 15 1918.
A large proportion of the bonds were extended
and the remaining 7 % bonds not taken by holders of the maturing 5s were
sold.
V. 106, p. 2758; V. 107, p. 292.
The unextended 5s have been
p.
from
the table
Cost of Service Franchise.—After various
proposals and counter-proposals
had been made, the Minneapolis Street Ry. Co. on June 7 1919 accepted
the offer of the City Council of a 25-year cost-of-service franchise based
on a valuation of $24,000,000.
However, the franchise, which provided
for a return of 7 % on the above valuation, was defeated by the voters at a
special election held Dec. 9 1919.
V. 109, p. 2264.
Compare V. 108, p.
2242, 2331, 2529: V. 109, p. 477, 1081, 1274, 1527, 2172.
In Jan. 1920 the city officials of St. Paul had under consideration an
amendment to the franchise under which the St. Paul City Ry. operates,
which would permit an increase in fares to not exceeding 7 cents.
V. 110,
p. 867.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity
Twin City Rapid Transit—
Com $22,000,000 ($100)-.6 Q-J
$22,000,000
See text.
Prefcum $3,000,000 ($100). 1895
7 Q-J
3.000.000 Apr '20, 1*4
Minneapolis Street Railway Co.—
1st con M g$5,000,000_c*cpt 1918
7 g J-J 15
5.000.000 Jan 15 1922
St Paul City Railway Co—
First mtge on real estate
and} 1882
6 g A-O
224,000 April 1 1934
horse-car franchise._cpt [Exchangeable at 105 for first consolidated.
First consol mtge gold..cpt 1884
6 g A-O
456.000 Oct 1 1934
Cable con gold(see text) cpt 1887
5 g J-J 15
3.708,000 Jan 15 1937
Minneapolis & St Paul Suburban Ry—
—
1st M g $500,000 guar by)
1899
5 g M-S
500,000 Sept 1 1923
TwCy R T&StPCy c*cot /Interest at Central Trust Co.. N. Y., Trustee
Minn Street & St Paul City Ry—
Joint con mtge $10,000.0001
1903
5 g A-O
10.000.000 Oct 1 1923
($1,000) gup &i..c*cptiCentral Trust Co. of New York, Trustee.
Real estate mortgages
6%
325.000 1920 to 1923
All bonds are for $1,000 each, and, with the exception of the Minneapolis
& St. Paul Suburban Ry. and the joint issue of 1903, interest is payable
at Farmers' Loan & Trust Co., New York.
Stock.—Listed on New York Stock Exchange.
Bonds.—The Minneapolis Street Railway Co. jointly and severally with
the Minneapolis Lyndale & Minnetonka Railway Co., issued $5,000,000
5% 30-year first mtge. and first consol. mtge. gold bonds, due Jan. 15 1919.
210,000
(6)1,320,000
Balance, surplus.
$578,352
$41,302
$8,050
OFFICERS.—Pres., Horace Lowry; 1st V.-P., E. W. Decker;
$707,548
2d V.-P.,
Robertson; Aud., D. J. Strouse;
Treas., E. A. Crosby; Gen. Mgr., Foster Hannaford.—V. 109, p.
1274, 1527, 2172, 2264; V. 110, p. 466, 563, 867.
889,1081,
MINNEAPOLIS
NORTHFIELD & SOUTHERN
RY.—Incorp. in
in July 1918 to take over the property of the Minneapolis
South Dakota
& Dubuque Elec. Trac. Co. ("Dan Patch" line) sold
July129 1918.
Auth. capital stock, $500,000; par value of shares,
"Electric Ry." Section for May 1918, and V. 106, p. 2649.
On Aug. 7 1918 was licensed for business in Minnesota.
V. 107, p. 1004.
On Nov. 19 1918 the co. resumed operation of the cutoff from Auto Junction
to Luce Line Junction and'thence to/Minneapolis. Compare V. 107, p. 1192.
ROAD.— Has 52 miles of line in operation and 14 under construction.
OFFICERS.—Pres., James H. Ellison;-V.-P., H. A. Whittier; Treas.,
W. O. Winston; Sec., It. H. Benham — V. 107, p. 697, 1004. 1192.
St.
Paul
Rochester
at auction
See
MOBILE, ALA.
MOBILE LIGHT & RAILROAD.—Trolley.
ORGANIZATION.—A consolidation on Sept. 1 1901 of the Mobile Light
flc Railroad and the Mobile Street RR.; the franchises of both companies
were extended on Sept. 12 1901 to March 12 1955.
See V. 73. p. 616.
1906 the Mobile Illuminating Co.
July
purchased the electric-light
Elant of the70 semi-annual under contract of purchase pays to the Mobile
I. k RR.
company and payments of $11,464.
Fare Increase.—In April 1920 the Mobile
to increase cash fares from 5 to
rates are to
City Commission auth. the co.
These
1643.
7 cents and ticket fares to 6 cents;
continue in effect for two years.—V. 110. p.
Interest.
Outstanding.
Maturity.
$2,250,000
See text
1897
5 g J-D
328.000 July 1 1937
[Int. at Farmers' Loan & Trust Co., N. Y.
Mobile Street RR first mtge) 1893
6 g M-N
254.000 May 1 1923
gold $300.000
c* ntf [Farmers' Loan & Trust Co., N. Y., Trustee.
I Interest at National City Bank. New York.
STOCK AND BONDS—
Date.
Stock $2,250,000 (par $100)..
.ntf?
Consolidated
gold\
mortgage.
1901
1.183,000 Sept 1 1941
5 g M-S
($1,000) $2,250,000
c*tff Interest at New York Trust Co.. N. Y.,True
the $2,250,000 mtge., $610,000 are reserved for prlo. Iie*s
Bonds.—-Of
treasury,
$313,000
are
in
Trust Fund and $135,000
$75,000 1st M. M. L. & RR. Co. bonds have been
S. RR. bonds are in treasury and
$30,000 have
$17,000 are in
have
been
retired.
retired.
$15,000 M.
be«n retired.
EARNINGS.—
Calendar
Gross
Year.
Net (after
Earnings.
Fixed
Charges.
Taxes).
Balance,
Surplus.
---$966,442
$207,179
$103,945
$103,234
1918
725,626
191,18?
100,792
90,396
Dividends.—Initial dividend——Aug. 1 1909; in 1910, >4%; in 1911,
2H%; In 1912, l'H%: in 1913. 2%; in 1914, 3%; in 1915. 2%: in 1916, 3%;
In 1917, 2%.
In 1918. Aprl, 1%; June, 1%; Aug.. 3%.
None since.
ROAD. &c.—Owns 59 miles of track in Mobile and extensions to Maga¬
1919
-
Spring Hill, Whistler and Monroe Park.
Company also owns
of land adjoining.
Wilson; V.-P.. S. A. Wilson:
Sec. & Aud., F. B. CJements; Treas., C. White Spunner.—V. 110, p. 1643.
zine Point.
"Monroe Park" and water power and 260 acres
OFFICERS.—Pres. & Gen. Mgr., J. H.
&
eliminated
37,222
210,000
210,000
stock
First mtge gold ($1,000)
New Subsidiaries.—Because of a decision of the Supreme Court holding
that suburban lines, as railways, are amenable to the Minnesota 5% gross
earnings tax, it was decided in Mar. 1910 to Incorporate The Minneapolis
& St. Paul Suburban RR. ($1,000,000 stock, increased to $3,000,000 In
Jan. 1911; debt limit was also increased to $10,000,000; V. 92. D. 187).
The Minnetonka & White Bear Navigation Co. ($250,000 stock) and The
Rapid Transit Real EstateCorp., $15,000 stock, and to re-arrange matters
so that the suburban lines, the steamer lines and the hotels, parks, &c., of
the company might be handled separately for taxation and accounting pur¬
poses.
V. 90, p. 850.
Franchise ana Fares.—The horse car franchise granted to the St. P. City
Ry. Co. by the City of St. Paul is without limit.
The ordinance to use
electricity expires partly in 1937 and partly in 1939.
On Aug. 24 1907
Judge Lochren of tne U. S. Circuit Court granted a permanent injunction
against enforcing the ordinance of the city of Minneapolis of Feb. 18 1907
requiring street railways to sell six fares for 25 cts. (see V. 85, p. 532).
On
Jan. 3 1910 U. S. Supreme Court affirmed the decision of Judge Lochren.
This decision sustains the company's claim to the right to charge ,5-cent
fares.
V. 90, p. 111.
The Minneapolis Street Ry. franchise is claimed by
city officials to expire in 1923.
See V. 108, p. 380, 683.
Valuation of Minneapolis Street Ry.—For reports on valuation of property
26,63.3
42,040
210,000
(2)440.000 (6)1,320,000
43,283
pref. stock (7%)
com.
1,973,879
John R. Mitchell; 3d V.-P. & Sec., A. M.
In
the company agrees to pay Into the city treasury real and personal property
taxes, equal to at least 6% of gross earnings; see V. 80. p. 1175.
On Oct. 23 1914 the Minnesota Supreme Court sustained the validity
Paul City Ry. to construct a car line on
West Seventh St.
V. 99. p. 1301.
$9,711,194 $10,207,713 $10,214,479
8.445,059
Net earnings...
new
lines In St. Paul, see V. 79, p. 271, 2087, and for settlement with City of St.
Paul by which the city relinquishes Its right of appeal from this decision and
of
1919.
Years end. Dec. 31—
Revenue pass, carried-.222,186,823
Transfer pass, carried
73,4.58,262
&
of
perpetual.
single-track equivalent.
Including four Interurban lines connecting the business centres of Minne¬
apolis and St. Paul, an interurban line of 22 miles connecting St. Paul and
Stillwater, and lines to Lake Minnetonka.
Standard gauge.
On the prin¬
$100.
,
prin. and int., by
New York Stock
,
Miscellaneous debits
Divs. (5%).
secured by the same
Exchange in June 1895.
V. 60, p. 1149.
The St. Paul City Railway Co. has issued $3,708,000 5% 50-yr cable con¬
solidated bonds, and may issue $680,000 now held by the Farmers' Loan &
Trust Co., trustee, to redeem the $680,000 prior lien bonds; limit fixed by
this mtge. is $4,388,000, and no further underlying bonds can be put out.
V. 77. p. 2281.
Part of these cable consols ($1,138,000) Is guar. (p. & i.)
by end. of Twin City Rapid Transit Co.
See statement to N. Y. Stock
Exch. in June 1895,
V. 60. p. 1150.
Of the 1st consols, mtge. of the St.
Paul City, $224,000 are held by the Farmers' Loan & Tr. Co. to be ex¬
changed for the $224,000 first mtge bonds
The Minneapolis Street Ry. A St. Paul City Ry. consolidated mortgage of
1903 is a Joint Issue of the Minneapolis Street Ry. and the St. Paul City Ry.
Guaranteed, prin. and int., by endorsement, by Twin City Rapid Transit
Co. aee V. 77. p. 2281 and 2340).
,
Dividends.—Qn preferred is paying 7% per annum.
First dividend of
1% waa paid on the common stock in Aug. 1899; in 1900. 3%; in 1901, 4%;
1902 to 1909 incl
5% per ann ; 1910 to 1917 incl , 6% per annum.
In
1918, Jan., 1
%; April, 1%; July and Oct. divs. omitted (V. 107, p. 2290).
In 1919, Jan., 1%.
None to Feb. 1920, when 2lA % was paid.
v. 110. p.
Int., taxes,
$761,819
$46,030
$11,225
$110,833
1917---— 665,741
136,094
11,045
95,749
Latest Earnings.—For year ending Dec. 31
1919
are
Operating expenses
1918, at the rate of 5% per
EARNINGS.—For years ending Dec. 31:
Year—
Gross. Net (aft.Tax) Oth.Inc.
Interest.
They
Have been extended to Jan. 1 1922 at 7%.
mtge. as the old 5s and are unconditionally guaranteed,
the Twin City Rapid Transit Co.
See statement to
_
ORGANIZATION.—This company was incorporated at
Mar. 1900 with a nominal capital of $10,000 (since increased
for the purpose of uniting certain properties in the Fox
First mtge ($3,000,000) $1,-1
1901
000 gold no sink fund —c*/Int. at
Fox River Valley first mtgel
1901
[VOL. 110.
RAILWAYS
MONMOtJTH, ILL.
GALESBURG
&
WESTERN
R.
R.
„
Island Southern R. R..
t name was
changed to present title in 1919.
Receivership.—On Sept. 16 1919 Theodore M. Cox was appointed receiver
for the co.
On March 18 1920 the property was sold at foreclosure to W.
S. Hommons, acting for the bondholders' committee (see below) for $151,000.
It is reported that the road will be reorganized.
V. 110, p. 1643.
Compare V. 110, p. 872.
ORGANIZATION.—Incorp. in 1906 under Steam Railroad Act of Illin¬
ois.
Operated by electricity for passengers and steam for freight.
Fran¬
chises in Monmouth are for 20 years.
Was leased to the Rock Island South¬
ern Railway (nowMississippi Valley Ry.& Power Co.) from Feb. 1 1913 to
Was formerly known as the Rock
1913, on which date lease was canceled.
•
Bondholders' Committee.—W. S. Hammons, Frank S. Wingate and M. O.
Dec. 31
Williamson.
Deposits of bonds with the Fidelity Trust Co., Portland, Mc.,
and People's Trust & Savings Bank, Galesburg, III., have been called for.
See V. 102, p. 886.
Also V. 110, p. 872.
8TOOK AND BONDS—
Date.
Interest.
Stock $500,090 ($100).
First
Outstanding.
$500,000
Maturity.
mortgage $2,400,000 g!
($1,000) red at 105.
ROAD.—16
Standard
miles
5 g J-J
521.000 Jan 1 1947
c/Int. at Con. & Com. Tr. & S. Bk., Chic., Tr.
between
Galesburg
ahd
Monmouth.
76-lb.
rail.
gauge.
OFFICERS.—Pres., L. F. Sutton; V.-P., Will Halsted Clark, Chicago;
Sec. & Treas.. J. W. Walsh; Gen. Mgr., Geo. W. Qulackenbush, Rock
Island, 111.—V. 102, p. 886; V. 109, p. 271; V. 110, p..872, 1643.
MONTGOMERY, ALA.
MONTGOMERY LIGHT & TRACTION CO.—A trolley road.
Receivership.—In Jan. 1919 Judge Henry D. Clayton in the U. S. Circuit
Court of Alabama appointed Ray Rush ton receiver for the co., upon ap-
{>lication of the Comm'l Trust & Sav. Bank of V. 108, p. 269. it Compare
New Orleans, being aleged that certain secured notes
overdue.
were
V.
107, p. 2290.
ORGANIZATION, &c.
Montgomery Trac. Co. was chartered in 1893
On Dee. 29 1911, having acquired the lighting property owned by Richard
Tillis, name was changed from Montgomery Trac. Co. to above title (V, 94,
p. 207), and in June 1912stock was increased from $1,000,000 to $2,000,000.
to pay for new property.
V. 94. p. 1764.
Stock had previously been de¬
creased from $2,000,000 to $1,000 ,Q00 in 1909.
V. 88. p. 375.
ELECTRIC
Ape., 1920.1
Does entire street railway business and has an electric u ght and power
system In Montgomery and Its suburbs.
Street railway franchises that are
1932 and
not
perpetual expire between
franchise runs till 1940.
Electric light and power
1942.
Power Contract Decision.—See V. 103, p. 1593.
Fares.—In Sept. 1918 applied to the City Commissioners
Y. 107,
Increase fares from 5 cents to 7 cents.
p.
6-cent fare by the P. S. Comm.
auth. to charge a 7-cent fare.
granted
was
was
a
Interest.
Date.
STOCK AND BONDS—
Stock $2,000,000
($100)
for auth. to
1101.
On Oct. 5 1918
Effective Sept. 17 1919
Maturity.
Outstanding.
$2,000,000
1,080.000 April 1 1942
1912
5%
350,000
Aug. 1923
mtgel 1893
6 g F-A_
j Int. at Farmers' L. & T. Co., N. Y., Trustee.
1st & ref M $5,000,000 sk fd—
Mont
Street
Ry
$350,000 gold
1st
_
73
RAILWAYS
($100)
bonds of other properties which may be acquired.
all bonds authenticated annually began April 1
tion or refund., $ for $, of
1915.
V. 95. p. 47.
EARNINGS.—Of combined properties for cal. year 1919, gross,
521.
In 1918, gross, 8578,919.
In 1917, gross, 8451,383.
$556,-
ROAD.—Operates 38 miles of track (including 4 miles of double track) In
Montgomery and to Pickett Springs; 56 cars.
Standard gauge; 70-lb. T
and 95-lb. girder rail.
Power-house capacity. 4,000 k.w.
OFFICERS.—Pres., Ray Rushton; Sec. & Treas., Chas. E. Norton;
Gen. Mgr., G. C. Estill.—V. 107, p. 1101, 1747. 2290; V. 108, p. 269;
V. 109, p. 1080.
MONTOURSVILLE, PA.
PASSENOER
MONTOURSVILLE
RAILWAY.—A trolley road.
ORGANIZATION.—Chartered In Pennsylvania June 28 1897.
Com¬
Owns all the stock of the Montoursville
Electric Light Co.
Stock auth. and issued, $75,000.
Funded debt auth.
and Issued, $112,000 5 % 30-year gold bonds (tf) dated May 1 1908, int.
M. & N.
Operates 5 J4 m. of track from Williamsport to Montoursville, Pa.
EARNINGS.—12 mos. end. Feb. 29 1920 (incl. Mont. Elec. Lt. Co.),
gross, $42,189; expenses, taxes, interest, &c., $62,327; deficit, $20,138.
OFFICERS.—Pres., C. L. Peaslee, Williamsport; V.-P., F. O. Leonard
Coudersport; Sec. A Treas., W. P. Beeber, Williamsport; Gen. Mgr..
Frank Rennlnger, Montoursville.—V. 94, p. 207,1764; V. 95, p. 47.
menced
operations Dec. 16 1897.
MORRISTOWN, N. J.
ORGANIZATION.—Incorporated In New Jersey in 1899.
Charter
gives company right of eminent domain.
Built mostly on private right of
way.
Franchises through towns are perpetual or for 35 years.
On Feb. 211913theN. J. Pub.Utility Comm. approved the plan to Issue
$300,000 cap. stock to retire the $3,000,000 existing stock (one new share
for ten old), and $4,179,000 bonds of an auth. $5,000,000. to be secured by
a mtge. to the Safe Dep. & Tr. Co. of Pittsburgh, as trustee; $3,000,000 for
refunding existing bonds and $1,179,000 for other indebtedness.
V. 95. p.
1746. 680; V. 96. p. 653.
Readjustment Plan.—Interest on the $3,000,000 1st M. 5s having been
in default since June 1912 (except $28,875 paid on coupon No. 15, due in
Dec. 1912, the balance, $46,125, not having been paid), and no interest
having ever been paid on the $1,179,000 Gen. M. 5s, a 5-year agreement
dated June
18 1917 was entered into by the company and assenting bond¬
holders, under which (a) the $46,125 still unpaid on coupon No. 15, due
Dec. 1912, was paid forthwith; (6) the fixed interest on tne 1st M. bonds
for the next five years (till and including the coupon due June 1922) was
reduced to 2% per annum, with a further 3% if earned; (c) second mort¬
gage bondholders surrendered their bonds to the Safe Deposit & Trust
Company of Pittsburgh, to be canceled (along with the mortgage se¬
curing the same), and accepted in lieu thereof, $ for $, gold income deben¬
ture bonds of $1,000 each, due June 16 1948, with int. not exceeding 5%
p. a., payable only as earned and declared by the board.
The matured
coupons Nos. 16 to 24 (June 1913 to and incl. June 15 1917) on 1st M. bonds
were detached
and delivered to the depository in exchange for "certifi¬
cates of ownership," which shall entitle the holder to the return of the de¬
faulted coupons (without waiver of any legal liability of the company
for the payment of the same) upon termination of this agreement or when¬
ever determined by the board.
The company agrees to give the minority
bondholders representation upon its board of directors and. during the life
of this agreement, Alexander C. Robinson of Pittsburgh and Arthur E.
Pendergast of Trenton, N. J., shall be two of the directors.
For further
details see V. 105, p. 819.
Fares.—On Nov. 28 1918 was auth. by N. J. P. U. Comm. to increase
fares from 5 cents to 6 cents in each zone.
Compare Y- 107, p. 182.
Effec¬
tive April 1 1920 was auth. by the N. J. P. U. Comm. to increase fares from
6 to 7 cents.
V. 110, p. 1415.
Compare V. 110, p. 261.
In Dec. 1919 was auth. by the N. J. P. U. Comm. to issue $58,000 car
trust certfs.
V. 109, p. 2357.
Date.
STOCK AND BONDS—
Interest.
Stock common (see text).
First
mortgage
$3,000,000(
gold
($1,000)
callable
Maturity.
Outstanding.
$300,000
1905
5 g J-D 15 3,000.000 June 15 *35
at(Int. at People's Sav. & Trust Co., Pitts-
110 and Interest._.c*&r.tf (
Income
debenture
bonds/
burgh, Trustee.
1917
5 g J-D
1,179.000 June 16,'48
lint, at Peoples Sav. A Tr. Co.. Pitts., trustee
($100).
EARNINGS.—For calendar year 1919, gross, $435,101; net, after taxes,
$68,906.
In 1918, gross, $418,977; net, after taxes, $89,474.
Road Is In oper¬
Danforth Road, Madison, 10.89 miles; Morris-
ROAD.—Owns 44.01 miles road, 58.33 miles of track.
ation from Maplewood to
Hopatcong. 21.81 miles
Branch lines, Springfield to Eliza¬
beth. 5.34 miles; Denville to Boonton, 4.90 miles; Dover to Wharton, 1.06
miles.
The 2.69 miles of road between Danforth Road and Morristowa
town to Lake
are
owned
by the Morris RR. and are operated under lease; also operate
Plains to State Hospital, 1.36 miles; Lake
under lease branch linos, Morris
Hopatcong to Bertrand Island, 1.89 miles.
Total road operated, 50.57
miles.
Gauge, 4 ft. 8)4 in.
70-lb. T rail in country, 80-lb. girder In cities.
The building of a line from Landing to Netcong is under consideration.
OFFICERS.—Pres., Joseph K. Choate, New York; V.-P., E. I. Shannon,
& Treas., O. G. Schultz, Morristown; Gen. Mgr.,
V. 109, p. 2357; V. 110, p. 261, 1415.
Pittsburgh, Pa.; Sec.
C. O. Weidman.—V. 107, p. 182;
MOUNT
BURLINGTON
HOLLY,
COUNTY TRANSIT
N. J.
CO.—Trolley.
ORGANIZATION.—Incorporated in New Jersey on July 1 1910, as
to the Burlington County Ry. Co.
V. 90. p 1612.
Stock auth
successor
and Issued, $120,000 ($50).
No bonds.
As of June 1 1916 the N. J. Public Utility
Comm. authorized the company
to increase the fare from Mooreetown to Mount Holly and from Mnunt
Holly to Burlington from 10 t-o 15 cents each.
■
EARNINGS.—For
after taxes,
$13,540.
year
ending
Dec.
31
1919,
gross,
$79,425;
net,
rri
-
Burlington through Mount Holly
60-lb. T rail.
Gauge, 5 ft.*
ROAD.—About 15 miles of track from
and
Hainesport
to
Moorestown.
OFFICERS.—Pres.,
Albert Haines; V.-P.,
Treas., Walter I. Dill; Mgr.,
John D.
Johnson°Jr"";"sec™
Edwin C. Davis.
MUSKEGON,
MICH.
MUSKEGON TRACTION & LIGHTING CO.
In Jan. 1906 almost the entire stock was acquired by the American Light
A Traction Co.
V. 82. p. 49.
ORGANIZATION.—Incorporated In Michigan on March 1 1901, and Is
a consolidation of the street railway, electric-light and gas companies of the
city.
Franchises expire: gas. 1925: railway, indeterminate.
Fares—Service.—On Aug. 20 1919 the co. resumed service after being
shut down for two weeks as a result of riots which followed an attempt to
install a 7-cent fare.
The co. agreed to charge 6-cents for one month,
pending decision of Mich. R. R. Commission.
If at the expiration of 30
days no decision had been rendered, the co. was to collect 7 cents and Issue
refund slips for the extra cent charged.
V. 109, p. 1080. Accordingly
on Oct. 26 1919 the co. raised its fares to 7 cents and is issuing 1-cent refund
slips pending final decision.
V. 109, p. 1700.
Increase in Gas Rate.—In March 1920 the co. was
rate increase to $1.40 per 1,000 cu. ft.
V. 110, p.
N
granted a temporary
1290.
$600,000
------
6
63,000
See text
f 1901
5 g M-S
600,000 Mar 1 1931
($1,000)
tf{Interest at Wyoming Valley Trust Co.,
Callable at 105
I
Wilkes-Barre, Pa., Trustee.
Ditidends.—On preferred stock 6% yearly from 1902 to date.
ROAD.—Owns 15 miles of road and serves as a terminal for the Grand
Rapids Grand Haven A Muskegon Ry., which operates 40 miles of track
between points indicated In the title.
OFFICERS.—Pres., J. Q. Ross; V.-P., J. T. Young; Sec. & Treas.,
H. P. Lewis, Muskegon; Asst. Sec. & Asst. Treas., O, N. Jeliffe: And..
James Lawrence; Gen. Supt., Walter Eyke.—V. 101, p. 774; V. 109,
p. 1080, 1700; V. 110, p. 1290.
_
_
MUSKOGEE, OKLA.
MUSKOGEE ELECTRIC TRACTION CO.—A trolley road.
ORGANIZATION.—Incorporated in 1904 in Indian Territory.
In Oct
the People's Electric Ry., which was merged into this prop¬
erty, and Issued $600,000 new 1st M. bonds to refund an earlier issue of
$450,000 and in part payment for the People's Elec. Ry.
$200,000 addi¬
tional bonds will be issued in final payment when annual net earnings are
twice the Interest charges on bonds out, Including these $200,000.
Fran¬
chises are unlimited as to time.
Right of Purchase by City.—The city has the right to purchase all the com¬
pany's property within city limits in 1934 and at the end of every 15-year
period thereafter, at a price determinable by arbitration, but In case of
such purchase the bonds must be either paid off or assumed by the city,
and in the latter event the company must be allowed to operate its cars
from suburban or interurban points to the centre of the city on
a rental
1912 acquired
.....
See V. 95, p. 1331.
basis.
Has favorable long-time power
Gas & EI. Co.
Outstanding.
Maturity.
contract with the Muskogee
Date.
8TOOK AND BONDS—
Stock $500,000 ($100)
First mtge $5,000,000 sinking!
Interest.
Q-M
5 g M-N
See text
$500,000
1912
600,000 May 1 1934
c*JInt. at Equitable Tr. Co., N. Y., Trustee.
Remaining bonds may be Issued for additions and betterments at 80%
of cost, with certain restrictions.
Subject to call as a whole, or In part, at
10$ and int. on any int. day on 3 weeks
notice. Semi-annual sinking fund
began Jan. 1 1914 of )4 of 1% of all bonds outstanding.
V. 95, p. 1331.
Ditidends.—1908, 6%; 1909, 6%; 1910 to 1912. inclusive, 8%.
EARNINGS.—For year ending Dec. 31
1918, gross, $169,042; net
$46,518; bond int. & taxes, $40,857; bal„ surp., $5,661.
In 1917, gross,
fund
gold ($1,000)
$59,038.
$185,904; net (after taxes),
MORRIS COUNTY TRACTION.—An electric road.
Maturity.
Outstanding.
-
Preferred $100,000 6% cum
First mortgage $600,000 gold
Bonds.—Or the 1st A refunding bonds, $350,000 are reserved for prior
lien and $1,080,000 for add'ns A betterm'ts at 80% of cost, or for acquisi¬
Sink. fd. equal to 1% of
Interest.
Date.
STOCK AND BONDS—
Stock $600,000
ROAD.—Operates city lines, 16.13 miles, and interurban and suburban,
total, 31.26.
Standard gauge. 70 and 60-lb. T rail.
47 pass. cars
(of which 34 pre-payment); 2 misc. cars and 1 elec. locomotive.
Also owns
an amusement park on Arkansas River about 5 miles from Muskogee.
15.13;
OFFICERS.—Prss.. R. D. Benson; V.-P., W. S. Bsoson;
Cutlip; Local Mgr.. R. D. Long.—V. 95, p. 1331.
Sec. 4c Treas..
W. M.
197
NASHUA, N.
I
H.
RAILWAY.—Trolley.
lORGANIZATION.—Incorp. Aug. 14 1885.
NASHUA STREET
for 99 years (succeeded by
in Dec. 1917 for the Bay
the
that
Owns and operates 16.14
leased to the Lowell A Suburban
Bay State Street Ry.).
The receiver appointed
State St. Ry. terminated the lease and turned
On July 1 1900 was
miles of main track.
property back to the stockholders.
a settlement of the company's claim
damages was pending.
Fares.—In Aug. 1917 the
In April 1920 we were informed
against the Bay State Street Ry.
for
Increase in fares
1919, faros were raised
to 10 cents cash,
N. H. P. 8. Comm. auth. an
the company's lines to 6 cents.
Effective July 1
7 cents.
Effective April 1 1920, fares were raised
on
to
tokens 7 cents.
In
Oct.
,
of $65,000 7% pref.
stockholders authorized an issue
1919 the
sinking fund stock.
STOCK, BONDS, AC.—
Date.
Div.&Mat.
Interest. Outstanding.
$325,000 See text
150,000 Oct 1 1931
($1,000). gold
c*tf/Int. at Old Colony Tr. Co.. Boston Trustee.
Bonds.—Entire Issue may be called at 105 and accrued interest.
Dividends.—Under the lease to the Bay State St. Ry. dividends of 6%
p. a. were being paid, but payment due Jan. 1 1918 was defaulted—see
Stock, $325,000 (par
First
mortgage,
$100)
$150,000,1 1901
remarks
4 g A-O
above.
™
„„„„„„„
EARNINGS—For cal. year 1919, gross,
■
,
,,
For last 11 months
$131,691.
$110,240.
OFFICERS.—Pres., George A. Fernald, Boston;
Nashua, N. H.—V. 106, p. 86, 607. 1036.
of 1918, gross,
m
T
™
m
,,
Treas., J. E. Tolles,
NASHVILLE, TENN.
TENNESSEE RAILWAY, LIGHT
& POWER CO.
ORGANIZATION.—Incorp. in Maine on April 23 1912.
V. 94. p. 1120.
a holding company and owns all the stock of Tennessee Power Co., prac¬
tically all the common and $335,300 pref. stock of the Nashville Ry. A Lt.
Co
and practically all com- and pref. stocks of Ohatt. Ry. St Lt. Co.
Financing.—On May 21 1918 holders of the $2,500,000 2-year 5% notes,
due June 1 1918, were asked to withhold presentation of same until a loan
could be obtained from the War Finance Corp.
Shortly after the signing
of the armistice with Germany on Nov. 11 1918 the War Finance Corp.
announced that no further loans of the character desired by the co. would
be made, thus shutting off this means of refinancing.
Interest at the rate
of 7% was paid on the overdue notes from June 1 1918 to Dec. 1 1918.
On
Dec. 30 1918 the holders of these notes were offered in exchange a new 7%
note dated Dec. 1 1918 and due June 1 1920 at a cash discount of 1 %.
The
authorized amount of the new notes is $4,000,000.
Notes in excess of the
$2,500,000 issued in exchange for the old notes may be issued from timeto
time to provide for other indebtedness.
Each $1,000 note so issued will
be secured by $1,000 face value Tenn. Power Co. bonds and $1,000 Nash¬
ville Ry. & Lt. Co. common stock.
The same collateral as was pledged
Is
will be deposited under the new issue.
At the
announced it was stated that holders of 75% of the
agreed to this extension. V. 108, p. 80.# Compare
2230, V. 107, p. 502.
(The old notes have been eliminated from
the overdue notes
under
time that this
plan was
outstanding amount had
V. 106, p.
table below).
,
„
.
^
On April 1 1919 the stockholders voted to reduce the auth. amount of
pref. stock from $50,000,000 to $10,250,000 in order to effect a saving
the payment of State taxes. V, 109, p. 1180.
Compare V. 108, p.
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity.
Common $20,000,000 ($100)
$20,000,000 ---------Pf
974.
in
$10.250.000($100)6% cum.
Q-M
IQJU&.OOO
See text
notes $4,000,000] 1918
7 k J-D
2,500,000 June 1 1920
($l,OQ0A$10.000) red atl00)Bankers Trust Co., New York, Trustee.
Ainton30 days'notice.g c*tfj
„
.
.
The secured notes are secured by $2,500,000 Tennessee
Power Co. 1st
Secured
5s and $2,500,000 common
10Di&deudsl—Dividends
stock of the
Nashville
at rate of 6% per ann. were
Ry. <fc Light Co. V.
paid quarterly from
and incl. June 1914.
None since.
EARNINGS.—Combined earnings of constituent companies (Inter-co.
Items eliminated).
Report for calendar year 1919 in V. 108. p. 1820.
Years ending
Gross
Net (after
Interest,
*D«?s. on Balance,
Dec. 31—
Earnings
Taxes. Ac).
&c.
Minor Stock. Surplus.
1918
V-$6,146,619 $2,282,988 all,469,302 $108,235 $705,451
5,259.049
1,799.523
1,510,353
108,235
180,935
LATEST EARNINGS.—For 12 months ending Dec. 31:
organization of
co. to
_
Net, aft.
Gross.
Tax, &c.
Int. &c.
Balance.
$6,380,126 $2,126,992 b$l,551,876 sur.$575,116
1918
"
I- -I
6.146,619 2,252,988 b 1,505,370 sur. 747,618
•Dividend* paid on stocks of constituent cos not owned by Tenn.
Ry
L. & P. Co.
a Int. on $2,165,000 Chatt. Rys. Co. 5% Cons, bonds
accruing after May 1 1918 not included, as no part of this int. was earned
and default was made on Nov. 1 1918.
b Not incl. int. on Chatt. Elec.
Ry. and Chatt. Ry's. Co. bonds not accrued or paid due to default.
PROPERTY, AO.—The constituent cos. own and operate electric-light power and traction properties in Nashville and Chattanooga, and the elec¬
tric light and power systems in Cleveland and several smaller cities.
A
number of other cities, Including Knoxvllle, Tenn., and Rome, Ga., are
Calendar Years—
1919
■
-
.
under contract for
electric service.
OFFICERS.—Pres.. C. M. Clark; V.-Ps.. II. M. Byllesby. Geo. E.
Hardy and E. W. Clark; Sec. & Treas., G. L. Estabrook; Asst. Sec. & Asst.
William Lilley and Jacob Hekma.
Under management of E. W.
Clark & Co. Mgt. Corp.—V. 104. p. 1265,1894; V. 106, p. 1462, 2230, 2551;
V. 107, p. 502; V. 108. p. 80. 1611. 1820. 1938; V. 109, p. 1180.
Treas..
CI) Nashville Railway & Light Co.—Street railway and lighting system.
$335,300 of the pref. and practically all of the common stock owned by
Tenn. Ry.,
Lt. & Pow. Co.
ORGANIZATION.—Incorporated In Tennessee
on June 26 1903.
Is a
reorganization of the Nashville Railway Co., sold under foreclosure of the
latter's first consol. mtge.
The NashvIJIe Ry. was a consolidation In 1900
of the Nashville Street Railway, the Nashville & Suburban and the Citi¬
zens' Rapid Transit.
The Nashville Ry. & Light Co. has absorbed the
Cumberland Electric Light & Power. Does practically all the street rail¬
way and commercial lighting and power business in Nashville.,
Franchises
perpetual; those covering the principal railway lines contain a provision
giving the city the right to purchase after 1923.
New
Equipment.—In June 1919
auth. by the Tenn. RR. &
was
Comm. to purchase 10 new street cars costing about
$57,980,
car notes for $33,425 of this amount.
V. 108, p. 2330.
Fares.—Effective Mar. 8 1920
P. U.
and to issue
auth. by Tenn. P. U. Comm. to in¬
crease fares to 7 cents cash with 4 ticketsifor 25 cents.
V. 110, p. 1290.
The $274,000 Nashville & Edgefield 8t. Ry. bonds, due Jan. 1 1920, were
paid off at maturity, a like amount of refunding & extension bonds being
was
issued in connection therewith.
STOCK AND BONDS—
Common $4.000.000
($100)
Pref 5% cum $2.500.000($100)
Date.
Interest.
Outstanding.
Maturity.
$4,000,000
2.500.000 Jan '20,\\i
McG &MtV Horse Rft IstMl
1886
6 J-J
65,000 July 1*1926
($100. $500 Sc $1.000).cntf/Nashville Tr. Co.. Trustee.
Second series ($1.000)-Cntfl
1887
6 J-J
485,000 July 1 1937
Q-J
/Nashville Tr. Co., Trustee.
1895
5 g J-J
907,000
Jan 1 1925
($1.000;__c*ntf/NaHhvllle Trust Co., Nashville. Tenn., Trus.
Nashv Ry & Lt consol M gf 1903
5 g J-J
4.110,000 July 1 1953
(closed) ($1.000)
cHf [Interest at Guaranty Trust Co., N. Y.,Trus.
Nash Ry & Lt ref &. ext mtge/
1908
5 k J-J
4,800,000 July 1 1958
$15,000,000
($500
and|Int. at Guaranty Trust Co., N. Y., Trustee,
$1,000) gold
c*tf [
or at Nashville Trust Co., Nashville.
Nashville St Ry 1st mortgage)
(closed)
g
Bonds.—Int.
on
both series of McGavock & Mt. Vernon Horse RR. bonds
Is
payable at Fourth & First Nat. Bank, Nashville, and N. Y. fiscal agent.
Ry. & Lt. consols of 1903 are subj. to call on any int. date on
30 days' notice at 107 H and int.
Sinking fund $30,000
The Nashville
par annum, com¬
menced June 30 1913, but only If company has a surplus above
charges and
div. on pref. stock;
bonds to be kept alive in sinking fund.
Int. on the
Nashville & Edgefield Consol. 6s payable at office of company In Nashville
or Hanover Nat. Bank. N. Y.
Int. on Nashville St. Ry. bonds of 1895 nayable at Mechanics' Nat. Bank, N. Y.
Of the newref. & ext. bonds, $5.841
000 are reserved for prior liens and remainder may be issued at rate of
has received 5%.
has been closed; call¬
3 mos.' notice.
Of the 1st & ref. bonds.
$2,790,000 are reserved for prior liens and $9,133,000 for ext., betterments
and Impts. at 85% of cost.
$682,000 pledged as part security for Chatta¬
nooga Railway & Light Co. 7% notes due 1920.
No sinking fund; callable
at 105 and int on any int. date on 60 days' notice.
Int. payable at Hodenpyl, Hardy & Co. and at office of trustee.
N. 89, p. 846.
Interest on notes is payable at office of E. W. Clark & Co., Philadelphia,
Pa.
Secured by $682,000 Chatt. Ry. & Lt. Co. 1st & ref. os and $u89,000
Lookout Mountain 1st M. 6s.
Red. at par and int. on any mt. date on
30 days' notice.
EARNINGS.—12 mos. ending Dec, 31;
Gross
Ezp.de.
Net
Interest.
Siirplus
Year—
Earnings.
Taxes.
Earnings.
Ac.
or Deficit.
1919
.$1,915,817
$1,475,300
$440,517
a$254,51 lsur.$186,006
1918—1,843,947
1,441,613
402,334
a303,9ol
sur.98,383
Stock.—Pref. shares equally with com. after com.
Bonds.—The $3,000,000 Chattanooga Rys. mtge.
able any Int. date at 107 and Int. on
.
t
a-Not incl. int. on Chatt. Elec. Ry. and Chatt. Rys. Co. bonds, not
or paid, due to default.
21,000,916 pass, carried in 1918, agst. 17,406,644 m 191/.
ROAD.—Including Lookout
Mountain
Ry.,
operates 80
miles of
single track.
Gauge, 4 ft. 8M laT and girder rails.
84 motor, 12
trailers, 2 incline cable and 8 work cars.
Power Is obtained from the Ten¬
nessee
Power Co., which operates this company's steam power stations
of 5.000 k.w, capacity as a reserve station.
OFFICERS.—Pres., C. M. Clark; V.-Ps., S. G. McMeen, H. L. Clark
and F. W. Hoover; Sec. & Treas.. G. L. Estabrook; Asst. Sec. &
Aa*|£'
Treas., C. Wright.—V. 108, p. 1610,1721. 1936,2329; V. 109, p. 4/7, 1272;
V. 110, p. 658.
accrued
(a)
Bonds cannot be called.
$865,000 of those reported outstanding are held
In the treasury.
Sinking fund of % of 1% of outstanding bonds began
1 1918, bonds in sinking fund being kept alive.
See particulars of
bonds, property, &c., in V. 87. p. 227.
Dividends.—The first dlv. on prof, stock—2H%—was paid Jan. 1 1905;
then 2H% semi-annually to July 1910.
In Oct. 1910 changed to quarterly
and paid 1 yx %, and same amount quar. since to and incl. Jan. 1920.
April'
1920 dividend passed.
See V. 110, p. 1643.
Common stock is
July
all owned by Tennessee Ry..
practically
Light & Power Co.
Year—
__
—
1918—
40,255,322 pass,
Gross
Net (after
Interest.
Pref.Div.
Balance,
Earnings.
Taxes).
Ac.
5%.
Surplus.
—$3,224,384 $788,088 $475,146 $125,000 $187,942
2,866,213
939,346
481,655
125.000
332,691
carried in cal. year 1919, agst. 36,948,204 in 1918.
PROPERTY.—Operates 98.464 miles of single track. Has
15
work
237 passenger
Hydro-electric power is obtained on advantageous
Co., which operates this company's steam
cars.
terms from the Tennessee Power
plants of 17.100 k.
canacity
w.
except short
line
electric
...
od
piece of track
on
STOCK AND BONDS—
top
,
of Lookout Mountain
1926.
which franchise expires In
Interest.
Dale.
Stock ($500.000)
Outstanding.
$500,000
j
Maturity.
....
1st mtge $2,000,000 ($1,000)]
1913
6 g M-N
389.000 May 1 1953
gold
c*tf[Philadelphia Trust Co., Phila., Trustee.
Bonds.—Lookout Mtn. Ry. bonds are red. at 105 and int. on any int.
date on 60 days' notice.
$1,611,000 reserved for impts., &e., at 85% of
cost of same.
Bonds outstanding are pledged as part security for Chatta¬
nooga Ry. & Lt. 5% notes.
Interest payable at offices of E. W. Clark &
Co., Phila., and Hodenpyl, Hardy & Co., New York.
EARNINGS.—Included Id Chattanooga Ry. & Light Co. earnings.
ROAD.—Operates a cable road of 5.000 feet and has 9.8 miles of electric
road around and on top of mountain.
OFFICEiiS.—Pres.,C. M Clark; V.-P., M. S. Hopkins; Sec. & Treas.,
G. L. Estabrook: Gen. Mgr.. F. W. Hoover.—V. 83. p. 323; V. 87, p. 226,
(3)
Tennessee
Power Co.
Stock al' owned by Tennessee Ry.. Light & Power Co.
ORGANIZATION.—-Incorp. In Tennessee on April 24 1912
as a consoli¬
Power Co. and Great Falls Power Co.;
formerly belonging to Sweetwater Elec. Lt.
Co.. Cleveland (Tenn.) Ei. Lt. Co.. Sparta Elec. Light & Power Co., and A.
& T. Power Co.
Franchises.—The co.'s power plants are owned in fee
and Its transmission lines are on private right of way and therefore
not
subject to franchise limitations.
Franchises of distribution companies
dation
of the
Eastern
Tennessee
has also acquired the property
are
favorable.
STOCK AND BONDS—
Interest.
Date.
Outstanding.
Maturity.
—All owned by Tenn. Ry., Lt.
P. Co.—
gold) 1912
5 g M-N
$7,936,000 May 1 1962
guar.p& 1 ($1.000)._c*ntf/Int. at Bankers Trust Co.. N. Y..Trustee.
Bonds.—Of the remaining bonds, $3,975,000 are in treasury, all of which
are pledged as collateral on advances by the Tenn. Ry., Lt. & Power Co.
($2,500,000 being deposited under the Tenn. Ry., Lt. & Power Co. collat¬
eral note). $554,000 are reserved for permanent exts., add'ns and acquisi¬
tions, and $37,500,000 are reserved for exts.. acquisitions and impts.
Sinking fund, 1% per ann. of bonds out, began May 1 1917; to be used for
extraordinary renewals, replace/bents or additions, enlargements and exten¬
sions; also for cancellation of bonds.
$35,000 in sinking fund.
Red. in
whole or in oart at 107^ and int. on 12 week's notice.
See V. 95, p. 549.
F. N. B. Close, N. Y., is also trustee.
as reserve.
OFFICERS.—Pres., C. M. Clark; V.-P. & Gen. Mgr., B. C. Edgar;
& Treas., G. L. Estabrook.—V.
108, p. 1611, 1937, 2330; V. 109, p.
1080, 2357; V. 110, p. 1290, 1643.
Sec.
Chattanooga Railway & Light Co.
Tennessee Ry., Lt. & Pow. Co. owns practically all of the
$3,000,000
(2)
and $2,000.000 pref. stock
Receivers Appointed.—On April 17 1919 Federal
Mountain Railway Co.
Lookout
ORGANIZATION.—Owns
Stock $20,000,000 ($100)
First
mtge $50,000,000
EARNINGS.—Years ending Dec. 31.
1919___„—
,
„
and, through stock ownership, controls the Lookout Incline Co. (whose
stock and bonds are deposited under the company's mortgage).
Stock
all owned by the Chattanooga Railway & Light Co.
Private right-of-way
$1,000
for each $1.250 expended for future impts. &
equipts., not over $700,000 to
be issued in any calendar year, and subject to certain other conditions.
and
[Vol. 110.
ELECTRIC RAILWAYS
74
EARNINGS.—For
years
1919.
Gross earns*..
ending
Dec. 31:
1918.
$2,166,888 $2,237,151
Exp. .rents ,tax 1,306,629
1,360,002
.
1919.
1918.
Int.
(less portion
ch'g'ble to cap!) $649,581 $629,266
common
Chattanooga Rys. Co. 1st Consol. Mtge. of 1906.
V. 108, p. 1610, 1721.
The scope of the receivership is limited to the
railway system only, pending
decision by the Court on the question of whether the light and
power depts.
properties are subject to mortgages covering the railway system. V. 108,
p. 1936, 2329; V. 109, p. 1272.
ORGANIZATION.—Incorporated In Tennessee
on July 29
1909 as a
Railways Co. and Chattanooga Electric
1497.
V. 89, p. 285.
Own entire capital stock of
Lookout Mountain Ry. Co.
Does practically all the street railway, elec¬
tric light and power business In
Chattanooga and vicinity, Incl. the electric
lines up and on top of Lookout Mountain.
Suburban lines run to Mission¬
ary Ridge, Chlckarnauga Park and Lookout Mountain.
Franchises, with
minor exceptions, without limit of
time, and believed to be perpetual (but
see V. 110, p. 658).
consolidation of the Chattanooga
Co., per plan V. 88.
p.
Financing— On May 25 1918 holders of the $750,000 1-year 6% gold
notes due June 1 1918 were asked to withhold
presentation of same until a
loan could be obtained from the War Finance
Corp.
Shortly after the
signing of the armistice with Germany on Nov. 11 1918, the War Finance
Corp. announced that no further loans of the character desired by the co.
would be made, thus shutting off this means of
refinancing.
Interest at
the rate of 7% was paid on the overdue notes from June
1 1918 to Dec. 1
1918.
On Dec. 27 1918 holders of these notes were offered in
exchange for
their holdings a new 7% note dated Dec. 1 1918 and due June
1 1920 at a
cash discount of 1 %, collateral to be the same as that
notes.
The
pledged under old
prin. and int. by the Tennessee
new notes are
Ry., Lt. & Power Co.
those of the matured
guaranteed as to
The other features of the
notes.
new
issue
are
similar to
Default.—On Oct. 31 1918 holders of the Chattanooga Rys. Co. 1st Cons.
In revenue
V.
advised that because of increased expenses and no increase
the co. was unable to meet the Nov. 1 1918 int. due thereon.
were
107. p.
1836.
On Dec. 30 1918 holders of the
$625,000 1st Mtge. Chattanooga Electric
Ry. 5% bonds due Jan. 1 1919 were requested to withhold presentation of
same until a plan
providing for this maturity could be formulated.
The
int. due Jan. 1 1919 thereon has been paid.
V. 108, p. 77.
In May 1919
the following committee announced that it had
arranged to sell all of the
outstanding $625,000 1st M. 5s at 100 with int. accrued from Jan. 1 1919
at 6%. V. 108, p. 2240.
[We understand that this transaction was con¬
summated, the Safe Deposit & Trust Co. of Baltimore being the purchaser
—Ed.]
See also V. 109, p. 1179.
Committee for Chattanooga Electric Ry. 1st M. 5s.—Chairman, Chas. Ci.
Homer. Jr.; Arnold Elzey Waters, John C. Legg, Jr.; Sec., Joseph B1.
Kirby.
Depositary: Safe Deposit & Trust Co., Baltimore.
Deposits have
been cailed for.
V. 108, p. 1510, 1610.
Fares.—In Feb. 1920 the Tenn. P. U. Comm. auth. the co. to
charge a
7-cent fare and ordered impts. necessary to furnish safe and adequate car
service made.
V. 110, p. 658.
STOCK AND BONDS—
Common $3,000,000 ($100)
Pref $2,000,000
5% cum($100)
FhHt and refunding
mortgage]
Date.
Interest.
Q-J
....
1909
5
g
M-N
Outstanding.
$3,000,000
Maturity
2.000.000
2,395,000 May 1
1956
$15,000,000 g ($' 0010
fint. at Fidelity Trust Co.. Phila., Trustee.
Chatt Rys 1st cons mtge. see]
1906
5 g M-N
2.165,000 May 1 1956
text ($500 & $1,000)
g_c*tf/Int. at Commercial Tr.Co Phila..Trust
Chatt El Ry 1st M $625.0001
1898
5 g J-J
625.000
Jan 1 1919
gnot red ($1.000)__ c*ntf/Int. at Maryland Trust Co., Bait.. Trustee.
Secured notes $1,000,000($1,-1
1918
7 g J-D
See text
June 1 1920
000)
g guar p
& i "D"cntf jPa.
Co. for Ins.
on
Lives, &c., Phila., Trus
—
$860,259
$877,149
Surplus
$210,678 $247,883
PROPERTY. &0.—Owns water-power sites on the Ocoee River near
Parksvllle, Tenn.. with an ultimate capacity of 80.000 h. p.
Option has
been secured on sites for the development of 50.000 h. p. additional, and at
Great Falls, Tenn.,
owns.a site capable of developing 80,000 h. p.
Of the
development in operation. Ocoee No. 1, 18,750 k. w., was put in operation
Jan. 1912 and No. 2, 15.000 k. w.t in complete operation
April 1 1914.
A 13.000 k. w. steam plant at Parksvllle was placed in operation in July
and Nov. 1916. and a 10,000 k. w. hydro-electric plant at Great Falls placed
In oper. Jan. 15 1917; also owns a 300 k. w. hydro-elec. plant at Sparta; total
capacity, 57,050 k. w.
Power is also purchased from Chattanooga &
Tennessee River Power Co.
tension transmission lines.
Also owns 5*4 miles and leases 31 miles highSupplies practically all electric current used in
Nashville, Chattanooga,
Knoxville, Murfreesboro, Cleveland. Athens,
Etowah, Sweetwater, Lenoir City. Loudon. Franklin and Sparta, Tenn.,
and Rome and Dalton, Ga.
Has contract for large block of power with the
Aluminum Co. of America at Marysville; also has contract with the Ameri¬
Zinc Co. at Mascot.
K.W. hours generated in 1918
519,959,383 (of
91.4% water power and 8.6% steam) against 547,945,475 in 1917
(84.6% water and 15.4% steam).
OFFICERS.—Pres.. C. M. Clark; V.-Ps., G. E. Hardy. S. G. McMeen,
can
,
which
F. C. Walcott and F. W. Hoover; Sec., & Treas., G. L. Estabrook.
Under
mgt. of E. W. Clark & Co. Mgt. Corp., Phila.—V. 108, p. 1615, 1941.
UNION TRACTION CO.
ORGANIZATION.—Incorp. in Tennessee
on
to the Nashville-Gallatin Interurban Ry., sold at
STOCK AND BONDS.—
Date.
Interest.
Stock $300,000 ($100).
First
M
($300,000)
gold
At the time that this
plan was announced
lt was stated that holders of 75% of the
outstanding amount had agreed
to this extension.
V. 108, p. 77.
M. bonds
Net
Judge Sanford appointed
John Graham of Phila. and Percy Warner of Nashville receivers for the
co.,
on
petition of the Commercial Trust Co. of Phila., trustee under the
($500)
Oct. 12 1917 as successor
foreclosure Sept. 25 1917.
Outstanding.
Maturity.
$300,000
I 1917
G* J-D
300,000 Dec
c*&r.cptlNashville Trust Co., Trustee.
1
1947
Bonds.—Are callable on any interest date at 105.
EARNINGS.—For 12 mos. ending Dec. 31 1919, gross,
$152,966.
In
gross, $164,095; net, $40,447.
ROAD.—Operates 27.05 miles of track between Nashville and Gallatin,
entering Nashville over tracks of Nashville Ry. & Light Co. (4.4 miles).
1918,
70-lb. T rails.
Standard gauge.
OFFICERS.—Pres. and Gen. Mgr.. H. H. Corson; V.-P., John A. Bell;
Secy, and Treas., Guilford Dudley.—V. 105.
NASHVILLE
TRACTION
p.
1618. 1709.
CO.
This company late in 1914 Increased Its authorized capital from $500,000
$1,000,000 and Is constructing a trolley line in Nashville.
4H miles
built. 2 miles In operation.
3 leased cars in service.
In April 1915 lt was
reported that the Detroit Interests had sold their control.
V. 100, d. 1349.
OFFICERS.—Pres., Walter O. Palmer, Nashville; V.-P., W. H. Saw¬
yer (E. W. Clark Mgt. Corp.). Columbus. O.:
Gen. Mgr., G. B. Howard,
Nashville.—V. 99. p. 1366; V. 100. p. 1349.
to
NATCHEZ
SOUTHERN RAILWAY & LIGHT
MISS
CO.—StreJetrailway,gas and electric
ORGANIZATION.—Incorporated In 1908 and
Light & Traction Co. (V. 85, p. 1144), which was
took
over
Southern
a consolidation of the
Natchez Electric Street Ry. & Power Co., the Natchez Light. Power &
Transit Co. and the Natchez Gas Light Co.
Gas franchise perpetual; street
railway and electric lighting franchises expire In 1949.
Does the entire
railway, gas, electric-lighting and power business of Natchez.
street
Franchise Revoked.—Early in Aug. 1919 the City Council of Natchez
revoked the co.'s franchise for the operation of street cars on streets where
service had been discontinued for the six preceding months because of lack
of equioment, &c.
The work of taking up the tracks was begun almost
immediately.
V. 109, p. 776.
In April 1920 it was reported thatjthe
would abandon street railway service in Natchez.
pany
com¬
/
APR..
iy_'0.|
ELECTRIC
STOCK AND BONDS—
Date.
Stock $45,670 ($100)
Sou Lt & Trac 1st M $500,-1 1903
000 gold ($1.000)
Interest.
Outstanding.
!
Gross
V. 110, p. 1284, 1306.
1919.
1918.
1917.
1916.
$24,212,025 $20,901,063 $19,494,678 $18,255,614
15,078,590
14,823,424
12,954,256
11,911,626
20,190,376
17,745,869
15,240,114
12,898,064
Earnings—
335.000 Apr 15 1933 ; Railway
5 g A-015
75
REPORT.—For cal. year 1919, report in
Maturity, ;
$45,670
...
RAILWAYS
company
c*tfjlnt. at Inter-State Trust & Bkg. Co.. New i Gas company
1 Orleans, Trustee, or at First Nat. Bk., N. Y. \ Electric company
Bonds.—-$160,000 are reserved for betterments and extensions.
Are sub- i
Total gross earnings. $59,480,991 $53,470,356 $47,689,0482$43,065,304
Ject to call at 105 and int.
$5,000 have been retired.
See V. 76. p. 1086
\ Oper. expenses & taxes.$40,821,282 $33,824,8261 $30,539,369 $25,863,854
Amortization charges
2,803,808
3,113,558/
ROAD.—Operates 6 miles of track; 12 cars.
_
OFFICERS.—Pres.. Frank J. Duffy, Natchez; V.-P., E. H. Ratcii
Natchez; Sec. & Treas.. J. W. Billlnetsley, New Orleans.—"V. 109, p. 776.
i
Total expenses_______S43,625,090
Net earnings
_-___$15,855,901
$36,938,384 $30,539,369 $25,863,854
$16,531,972 $17,149,679 $17,201,450
P. S. Corp. of N. J. inc.
from securs. pledged &
from misc. sources.___
Total income..
Deduct—
NEWARK, N. J.
PUBLIC SERVICE CORPORATION
OP
NEW
JERSEY.—Street
railway, gas and electric.—{See map on pages 80 and 81.)
ORGANIZATION.—Incorporated in New Jersey on May 6 1903 and }
controls, through ownership of stock, Public Service
Ry. Co., Public
1,891,667
1,952,883
1,729,865
1,802,536
$17,SOS,784 $18,423,640 $18,879,544 $19,003,986
Int. & rentals of leased &
controlled
companies_$12,443,377 $12,320,529 $12,299,838 $11,963,114
Fixed chgs. P. S. Corp._
4,351,506*4,282,680
Other deductions.
Dr.406,537
Cr,841,866
4,202,307
Cr. 117,161
4,099,005
Cr.5,826
(8)239,968(7%) 1937500
Service Gas Co., Public Service Elec. Co., Orauge & Passaic Valley Ry. Co.
and United Elec. Co. of N.i J.
The stockholders of the two cos. last named
and also the stockholders of certain of the cos. out of which Public Service
Divs.P.S.Corp.com. stk(4M)1349982
Divs.P.S.Corp.pref.sk(6 2-3)669,771
Service
Public Service Ry. Co.
Rale Increase.—In Feb. 1918 the N. J. P. U. Comm. auth. an increase of
(8)1,799,976
—
■
______
Balance, surplus—_def.$1,412,389
$862,321
$94,593
$1,010,193
Ry. Co. was subsequently formed (namely North Jersey Street Ry. Co.,
OFFICERS.—Pres., Thos. N. McCarter; V.-Ps., Randal Morgan, An¬
Jersey City Hoboken & Paterson St. Ry. Co. and Elizabeth Plainfield & \ thony R. Kuser. Percv S. Young, E. W. Wakelee; Sec., Percy Ingalls!
Central Jersey Ry. Co.) were given certificates described below in exch.
Treas., T. W. Van Middlesworth; Cornp., Wm. S. Barker.—V. 109, p.
for their stock.
See plan in V. 76, p. 865 and also p. 1249.
The Fidelity
982, 1462, 1700, 1892, 2172, 2263, 2357; V. 110, p. 1188, 1284, 1290, 1306.
Trust Co. of Newark financed the transaction.
I
Controls practically the entire street railway business of Northern New
PUBLIC SERVICE ELECTRIC CO.
Jersey and the gas and lighting Interests of the greater part of New Jersey.
Controlled by Public Service Corp. by ownership of entire capital stock
Also owns entire capital stock of Middlesex Electric Light & Power Co.,
except directors' shares.
Morristown Gas Light Co. (V. 91, p. 95), Nichols Elec. Light & Power Co.of
ORGANIZATION.—Incorporated in New Jersey on June 13 1910.
Nutley, N. J., Citizens' Elec. Light, Heat & Power Co. (Perth Amboy,
Leases.—In July 1910 Public Service Corp, assigned to Public Service
N. J.), Burlington Elec. Light & Power Co., Public Service RR. and Wee¬
Electric Co. the leases of United Elec. Co. of N. J., Middlesex Elec. Light &
hawken Contracting Co.; a majority of stock of Princeton Light, Heat &
Power Co., Weehawken Contracting Co.. Nichols Elec. Lt. & Power Co. of
Power Co. and Shore Lighting Co. and practically all of the common stock
Nutley, N. J., and Citizens' Elec. Light, Heat A Power Co. and the electric
of New Jersey & Hudson River Ry. & Ferry Co.
properties of South Jersey Gas, Elec. & Trac. Co., The Paterson & Passaic
Gas & Elec. Co.. Somerset Union & Middlesex Lighting Co. and The Gas
Merger of Subsidiaries.—In 1907 North Jersey Street Ry. Co., Jersey
& Electric Co. of Bergen County.
Also leases Burlington El. Lt. & Pow.Co.
City Hoboken & Paterson Street Ry. Co. and United Street Ry. Co. of
Cinnaminson Elec. Lt., Pow. & Heating Co. and Bordeutown Elec. Co.,
Central Jersey were consolidated under the name of Public Service Ry. Co.,
and electric properties of Princeton Light, Heat & Power Co. and Shore
which see below.
V. 85,
p. 406 and 470.
To Public Service Ry. Co. also
Lighting Co.
In addition leases and operates the power stations owned by
have been transferred the leases of various railways formerly held by Public
Corporation.
On Dec. 28 1915 the merger of the Pub. Service
Ry. and the P. S. Newark Terminal Ry. was ratified.
In Oct. 1909 all leasehold interest in gas
properties and all rights under
operating agreement with Plainfield Gas Light Co. were assigned to the
Public Service Gas Co., which see below; also V. 89, p. 594. 721. 847.
In July 1910 all leasehold interest in electric light and power properties
were assigned to the Public Service Electric Co.
V. 90, p. 1614.
Newark
Terminal.—See Public Service Ry. below.
Fare Decision.—The U. S. Supreme Court on June 8 1914 affirmed the
decision of the New Jersey Court of Errors and Appeals, holding that the
Chosen Freeholders of Hudson County, N. J., had the right to reduce fares
to 6 cents per
round trip
on
the Port Richmond (Staten Island) & Bergen
Point (N. J.) Ferry Co., which is owned by the Public Service Corporation.
After operating for a year under this rate, an injunction was granted by
the U. 8. Dlst. Court and the 5-cenr, or»p-wav fare restored as of Jan. 1 1916.
pending
a
This injunction has since been made permanent.
hearing.
Fare Increases.—See Public Service Railway below.
in wholesale and certain retail power rates as a "war emergency
In July 1918 the Comm. held that the increased power rates
applicable to all consumers regardless of existing contracts.
V. 107,
p. 86.
On July 31 1919, however, this ruling was modified so as to make
this 25% surcharge applicable to wholesale power rates only.
STOCK.—Auth., $50,000,000 (increased from $30,000,000 in May 1917);
outstanding, $30,000,000,: all owned (except directors' shares) by Public
Service Corp.
No bonds.
Real estate mtges., $324,033.
PROPERTY, &C.—On Dec. 31 1919 had 18 generating stations with a
capacity of 277,555 k. w., and 71 sub-stations; 925 miles of transmission
line and 157 miles of conduit.
Meters, 198,807.
Number of street arc
lamps, 9.353, and street incandescent lamps, 33,415.
K. w. hours sold in
1919. 442,641,630.
Total connected load in k. w.. Dec. 31, 1919, 464,605.
OFFICERS.—Pres., Thos. N. McCarter; V.-Ps.. Edmund W. Wakelee
and Percy S. Young;
V.-P. & Gen. Mgr., Farley Osgood; Treas., T. W.
Van Middlesworth; Sec., Percy Ingalls.—V. 106, p. 1132; V. 107, p. 86.
25%
measure."
were
United
Stock Increase.—On July 26 1916 auth. capital stock was Increased from
$25,000,000 to $50,000,000.
Shareholders of record Oct. 2 1916 had the
right to (subscribe for $5,000,000 of the new stock pro rata at par.
V. 103,
p. 1119. 2239.
Financing.—On Jan. 27 1919 the directors auth. the creation of
of 8% cum. pref. stock to the authorized amount of $50,000,000.
STOCK AND BONDS—
Stock
Date.
Interest.
Outstanding.
an
com.
on
Maturity.
up
to Dec. 31 1921.
so
Public Service Corp. for an annual rental of 5% on stock and int
Lease assigned to Public Service Electric Co. in July 1910.
(except directors' shares) by Public Service Corporation,
which also owns $21,000 of the first mortgage bonds.
p.
580.
Pref. stock has
New
Total
Total
Stock.
Deposited.
$15,000,000 $14,994,400
•North Jersey Street Ry
•Jersey City Hoboken & Pat¬
erson Street Ry
20,000.000
•Elizabeth
Plainfield
&
The
3.000.UU0
Maturity.
----------
Certifi- If All Stock
cates.
Exchanged.
40%
$6,000,000
Nutley. N. J.
Stock $25,000 ($50);
Jan. 1
,
35%
7,000,000
3,000,000
30%
30%
30%
300.000
6,000.000
1,000.000
923,500
19,604,500
900,000
Pref $41,050
($50)
First mortgage
($250)
$20,200,000
Total
41.050
-
—
$30,000 gold! 1908
6 g F-A 20
30,000 Feb 20 1928
c*tf (Interest at Weehawken Trust Co., trustee.
Citizens' Electric Light, Heat & Power Co.
15 1910 for 999 years, and in July
assigned to Public Service Electric Co.; rental equivalent to
10% on capital stock.
ORGANIZATION.—Incorp. in New Jersey On Mar. 1 1905.
Stock
auth., $125,000 ($25); outstanding, $41,400 (ntf). all owned by Public
Service Corp. except $225 in hands of public, incl. directors' shares.
.
•
Now merged in Public Service Railway Co..
which
see
1910
provides that the stocks pledged shall not be used so as to
Increase the capital stock of any of the companies nor to create any new
liens upon the respective companies except to take up existing debt of any
«ucb comnany or of underlying or subsidiary companies.
$50,000,000 Mortgage.—Of the $50,000,000 bonds reported outstanding,
$2,069,000 have been purchased by the sinking fund, $12,500,000 are in
the treasury and $14,000,000 are deposited as collateral to the 3-year gold
notes due March 1 1922.
For security of bonds see V. 89, p. 1348; V. 90, p.
698.
Redeemable as a whole (but not in part) on any interest date since
Oct. 1 1919, at 105 and int.
Commencing Aug. 1 1913 an annual sinking
fund payment of $209,500 draws bonds at 105 and int.
Bonds are listed
on N. Y. and Phila. Stock Exchanges.
V. 91, p. 717; V. 92, p. 1179; V.
93, p. 1191; V. 109. p. 982, 1700.
Burlington Electric Light & Power Co.
ORGANIZATION.—Incorporated Oct. 6 1888 in New Jersey.
Public
owns entire issue of stock, except directors' shares.
Stock
auth., $25,000 ($50)
outstanding. $17,550.
No bonds. Leased for 900
years from May 1 1911 to Public Serv. El. Co. at a rental of $2,250 per ann.
Cinniminson Elec. Light. Power &
Are convertible at option of holder at any
V.
108,
p.
Bordentown Electric Co.
ORGANIZATION.—Incorp. May 28 1912, and Is leased to Public Serv.
April 1 1914 for 46 years for $100 per annum and amount neces¬
sary to maintain corporate organization of the lessor.
All the $50,000 auth.
and outstanding stock of this company Is owned by the Riverside Traction
Co.
No bonds.
«*:i
Paterson & Passaic Gas & Electric Co
—
Somerset Un. & Middlesex Ltg. Co--See below under Publio
South Jersey Gas, Elec. & Traction Co-Service Gas_Oo.j
Gas & Electric Co. of Bergen County
t
for each year,
New York and
Elec. Co.
580.
was paid on the pref.
In June 1919 2% was paid and same rate has been
Dividends.—An initial monthly div. of 2-3 of 1%
stock
on
Mar. 31 1919.
Said of 1% wasquarterly since to and1% was paid Sept. 30 On com., first
iv. regularly
incl. March, 1920. 1907 and 1%
paid June 29, 1907;
1907.
In 1908, 4%.
In 1909, 4^%.
In 1910, 5%.
In 1911
6%.
In 1915, 6^%.
In 1916, 7H%.
In 1917, 8%.
In 1918.
V. 107, p. 1385, 2377.
In 1919, March, \X%\ June, IX %: Sept.,
1X%Dec. 1919 div. passed.
(See V. 109, p. 2357.)
In 1920, Mar. 1%.
Dec. 31
to 1914,
Shore
6%.
Heating Co. of Riverton, N. J,
ORGANIZATION.—Incorp. Nov. 28 1892 and leased to Public Service
Co. April 1 1914 for 46 years at a rental consisting of the amount
necessary to maintain the corporate Organization of the lessor, the Interest
on bonded Indebtedness of lessor, and $100 per ann., payable each Apr. 1.
All stock
($50,000 authorized and $20,000 outstanding) and bonds
($40,000) owned by Riverside Traction Co.
Elec.
Corp. Gen. Mtge. 5% bonds and $5,000,000 capital stock of the
Philadelphia.
,
Service Corp.
time prior to Dec. 31 1921. into the company's 8% cum. pref. stock on the
basis of 100% for the notes and 101X for the stock.
Red. all or in part on
60 days' notice at a premium of 1% with accrued interest
or any part thereof, of unexpired life.
Interest payable in
lease
,
Notes.—The 3-year notes are secured by a pledge of $14,000,000 Public
Service
,
Leased to Public Service Corp. June
below.
The trust deed
Public Service Electric Co.
1 1955
I
Weehawken Contracting Co.
ORGANIZATION.—Incorp. in N. J. May 9 1904.
Was leased on
1910 for 999 years to Public Service Corn for bond int,■and 6% on
pref stock
Lease assigned in July 1910 to Public Service Electric Co.
Stock all owned by Public Service Corp
except directors' shares
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock com $70,000 ($50).
570,000
Total Ctfs.,
19,984,600
20.000.000
United Electric Co
5175,000
all owned by Public Service Corp except directors' shares.
No bonds. Was
leased May 1 1908 for 999 years to Public Service Corp. (lease assigned t
Public Serv. Elec. Co. in July 1910) for an annual rental of 10% on stock.
Cen¬
tral Jersey Ry. Co
Orange & Passaic Val. Ry. Co.
Outstanding.
----
Nichols Electric Light & Power Co. of
ORGANIZATION.—Incorp. in N.J.Jan.3 1896.
two years, 2X% the third year, and Increased by K% each following year
until 6% was reached In the tenth year, which is tne rate now paid.
See
V. 80, p. 164.
The following shows the terms upon which the stocks of the
companies were exchanged for the trust certificates.
acquired are pledged as security for the trust certificates.
Interest.
—
($200,000)1 1905
5 g J-J
181,000
Jan
gold
tf [Fidelity Trust Co., Newark, Trustee.
Bonds.—Of the bonds, $19,000 are reserved for improvements.
Bonds.—The trust certlfs. bore 2% Int. (dating from June 1 1903) the first
■tocks
Date.
STOCK AND BONDS—
Stock ($200,000)
First
mortgage
which the notes
Up to Mar. 11920
constituent
bonds.
Stock all owned
converted.
V. 108,
a
and Middlesex Lighting Co.
years to
for the conversion of the 3-year notes due Mar. 1 1922, into
be converted
$57,400 had been
Light & Power Co.
consolidation of Cartaret Electric Light &
Was leased May 1 1908 for 999
Electric
Middlesex
ORGANIZATION.—Is
Power Co.
full voting powers and is pref. as to assets and dividends.
Red. on 30 days'
notice at 110 and accrued divs.
A sufficient amount is reserved to provide
may
mtge
Corp.. which also agrees to provide for payment of prln. by extension, re¬
funding or otherwise.
V. 90, p. 114.
First mtge. bonds are reserved to re¬
tire Con. Lt., Ht. & Pow. and North Hudson Lt., Ht. & Power Bonds.—
V. 85. p. 44. 288.415; V. 90. p. 114. 1106; V. 93. p. 414; V. 94. p. 987.
on
N. Y. Stock Exchange.
Service Oon>oratiou.
the
BONDS!—
Date.
Interest.
Outstanding.
Maturity.
J-J
$20,000,000
See text
$20,000,000 gold) 1899
4 g J-D
18.617.500 June 11949
($500 and $1,000) __c».ntf (Int. at N. J. Title Gu. & Tr. Co., J. O., Trus.
Con Lt Heat & Pow $1,000.-1 1898
5 g J-D
308,000 June 1 1938
000 ($500) gold
tfjInt. at N. J. Title Gu. & Tr. Co., J. G., Trus.
Nor Hudson Lt Heat & Pow\ 1898
5 g A-O
367,000 Oct 1 1938
$2,000,000
($1.000)
tf J Int. at N. J. Title Gu. & Tr. Co., J. O.. Trus.
Bonds.—In addition to the above there are $115,000 Con. Lt., Ht. & Pow.
bonds In hands of trustee.
Int. on 1st mtge. is guaranteed by Pub. Serv.
by the Corporation.
stock listed
Jersey.
STOCK AND
$50,000,000 ($100),
Q-M 30
$29,999,600
See text
$50,000,000($100)
8 Q-M
10,057,400
Mar'20,2%
Trust certificates $20,200,0001
1903
6 M-N
♦20.050,770
Perpetual
ntf Fidelity Trust Co.. Newark, ~
Trustee.
General mortgage$50,000.000
1909
5 g A-O
50.000,000
Oct 1 1959
gold ($1,000) sf
c*tf Int. at Fidelity Trust Co., Newark, Trustee,
or at office of J. P. Morgan & Co.
3-yrsecconvnotes$12,500,000f 1919
7 g M-Sl
12.442,600 Mar 1 1922
($100, $500,
$1,000 andjlnterest at Fidelity Trust Co., Philadelphia,
$5,000)
gold
c*tf I
Trustee.
Stock.—The
New
July
First
cum
•Of which $920,485 owned
of
Stock $20.000,000
com
8%
Co.
1910 lease assigned to Public Service Electric Co.
Under the
$400,000 surplus cash assets of company were divided and a
special dividend of 5% was paid June 29 1907 (V. 85, p. 44).
Rental is
3% for two years, 4% for next two years and 5% thereafter.
V. 85, p. 44.
public Service Corporation owns $19,604,500 of this company's stock and
$683,000 of its first mortgage bonds.
In
lease
issue
Of the
new stock a sufficient amount is reserved for the conversion of the 3-year
notes due Mar. 1, 1922 and $10,000,000 was offered pro rata at par to the
shareholders.
V. 108, p. 580.
Compare V. 108, p. 481.
In February 1919 the co. issued $12,500,000 3-year secured conv.7% notes
maturing March 1 1922, the proceeds of which, together with the proceeds
of the $10,000,000 pref. stock (see above), are to pay off $7,500,000 3-year
notes due Mar. 1 1919, discharge floating indebtedness, provide additional
working capital, and diminish materially the annual interest charges.
V. 108, p. 580, 684.
Compare V. 108, p. 481.
Pref
Electric
ORGANIZATION.—Organized March 4 1899.
Lease.—Leased July 1 1907 for 999 years to Public
■
Lighting Co—
Princeton Light, Heat &
Power Co
fe PUBLIC
SERVICE OAS CO.
,
"
Corporation by ownership of entire capital
,
Controlled by Public Service
directors' shares.
,
^
^
ORGANIZATION.—Incorporated in New Jersey andwas created by
the name of the old Oxy-Hydrogen Co. of the United States
(incorporated in New Jersey in 1873).
This latter is said to have had a
perpetual charter under legislative grant conveying the right to manufacture
and distribute gas throughout the State.
Company has no bonds.
Leases.—On Oct. 1 1909 Public Serv. Corp. assigned to Public Service Gas
Co. the leases of Essex & Hudson Gas Co., Newark Consolidated Gas Co.,
The East Newark Gas Light Co. and Hudson County Gas Co., and, in so far
as they relate to the manufacture and distribution of gas, the leases of South
Jersey Gas, Elec. & Trac. Co., the Paterson & Passaic Gas & Elec. Co.,
Somerset Union & Middlesex Lighting Co. and The Gas & Elec. Co. of Beritock except
Bonds.—Of the new $5,000,000 mtge. of 1899, $951,000 Is reserved for
underlying liens.
The bonds are not subject to call.
The Paterson Safe
Deposit & Trust Co. is trustee.—V. 107, p. 403.
changing
Somerset Union & Middlesex
Also leases the RIdgewood Gas Co. and Morristown Gas
Light Co.. and the gas prooerties of Princeton Light, Heat & Power Co.
and Shore Lighting Co¬
in Feb. 1920 the N. J. P. U. Comm. approved an issue of $740,000 capital
stock.
V. 11®, p. 567.
Stock, $30,000,000; $14,100,000 outstanding all owned by Pub.Ser.Corp.
except directors" shares.
Stock will be issued (V. 89. p. 594) from time to time at par to Public
8ervice Corp. only for cash or for improvements at actual cost thereof.
No bonds.
Real estate mortgages, $233,167.
Service Gas Co.
LEASE.—The co. was leased to Pub. Serv. Corp. for 900 years from
31 1903 on the following terms, viz.: All interest, expenses and
Dec.
taxes to be
Reduction.—Accepting the order of the Board of Public Utility Com¬
27 1912, the company reduced its rates in the
1913 from $1 10 per 1,000 cu. ft. (with a reduc¬
tion of 10c. if bill is paid within a certain time) to $.90 per 1,000 cu. ft.
flat, and In pursuance of the Board's recommendation set the same reduced
rate throughout the State on May 1 1913.
See under Pub. Serv. Corp. in
V. 96, p. 136.
Validity of order was upheld on July 7 1913 by the New Jer¬
sey Supreme Court (V. 97, p. 238), but on appeal to the Court of Errors
and Appeals the decision of the former was reversed on Dec. 9 1914 by a vote
June 14 1915, however, the Court of Errors
1914 by the same vote, and sustained the
upholding the order.
V. 100, p. 2086. The
appealed to the U. S. Supreme Court but in 1917 the case was
finding of the lower Court
dismissed upon the co's request.
The Court also reversed its decision
dismissing the appeals of the cities
have an 80-cent rate put into effect.
Comm. denied the petition of the
companies in the State for the fixing of a lower heating standard for
ef Passaic and Paterson, which sought to
In Oct. 1917 the N. J. Bd. of P. U.
gas.
V. 105, p. 1622.
Rale Increase.—On March
1 1918 the Board of P. U. Comm. auth. the
company, as a "war emergency measure," to add a surcharge of 7 cents per
1,000 cu. ft., making the total rate 97 cents per 1,000 cu. ft.: also to with¬
draw all rates under 65 cents per 1.000 cu. ft.
See also V. 109, p. 78, 179.
On Nor. 20 1919 was auth. by the Comm. to increase rates from 97 cents
1,000 cu. ft. te $1 15 per 1,000 cu. ft.
V. 109, p. 1993.
'Dividends.—Initial div.—2%—paid Dec. 31 1909.
In 1910, 2*4%.
In
and 1912, 8%.
In 1913, 6%.
In 1914, June. 4%; Dec., 4%.
Practically all of stock is owned by the Public Service Corp. and dividends
am no longer reported.
per
1911
OPERATIONS. &C.—Sold 14,900,704 M cu. ft. of gas during 1919; on
Dec. 31 1919 had 3,126 miles of mains and 538,574 meters in service.
OFFICERS.—Same as for Public Service Electric Co. except that H. D,
White#** is the V.-P. & Gen. Mgr.—V. 109, p. 1993; V. 110, p. 567. /
Essex &
Hudson Gas Company.
ORGANIZATION.—Incorporated in Nov. 1898 in New Jersey and on
Dec. 1 1898 assumed the lease of Newark Consol. Gas Co. to United Gas
Improvement Co. for 999 years from Dec. 1 1898.
Essex & Hudson Gas
Co. was leased to Pub. Service Corp. for 900 years from June 1 1903 and
lease assigned Oct. 1 1909 to Public Service Gas Co.
Under lease, div. rate
is now 8% per annum. Stock auth. and outstanding, $6,500,000. V. 67, p.
1002, 1169; V. 107, p. 406.
Newark Consolidated Gas Company.
ORGANIZATION.—Incorporated Nov. 30 1898 in New Jersey.
Con¬
solidation of Newark Gas Co., Montclair Gas & Water Co., Summit Gas
Light Co., People's Gas Co. of Irvington and Clinton Gas Co.
Owns entire
capital stock or Orange Gas Light Co. and practically all the stock of The
East Newark Gas Light Co.
Leased all its property to United Gas Im¬
provement Co. of Phila., Pa., for 999 years from Dec. 1 1898, and on same
date lease was assigned to Essex & Hudson Gas Co. and by last-named
company to Public Service Gas Co. Oct. 1 1909.
Lease provides for pay¬
ment of all fixed charges and divs. on stock commencing 14% July 1 1900
and increasing 34 % yearly until 5% was reached in 1910; since, 5% per an.
Interest.
Date.
STOCK AND BONDS—
Stock
$6,000,009 ($109)
Outstanding.
$6,000,000
-
Maturity.
See text.
mtgej 1898
5 g J-D
6.000.000 Dec 1 1948
$10,000.000g ($1,000)c*ntfllnt. at Fidelity Trust Co., Newark, trustee.
Newark Cons Gas cons
Newark Gas IstM
($100, $500 &
3.999.700 April 1 1944
6 Q-J
$4,000,000/ 1895
$l,000)-c*tf{lnt. at Fidelity Trust Co., Newark.
Bands.—Of the $10,000,000 Newark Cons.
served to retire underlying
This company was
Gas bonds, $4,000,000 are re¬
liens.
Newark Gas Light Co.
leased to Public Service Corporation for 999 years from
6% on stock, and lease assigned Oct. 1 1909
East
The
134%; Dec. 1 1907, 2%; Dec. 1
Public Service Electric Co.
in Harrison. Kearney.
Hudson
County Gas Co.
This company was leased to Public Service Corporation for 900 years
from June 1 1903.
Oct. 1 1909 lease was assigned to Public Service Gas Co.
Knder lease, dividend rate is now 8%
per annum.
ORGANIZATION.—Incorporated in New Jersey in October 1899, and
is a consolidation of the various gas plants in Jersey City and Hoboken.
$1,050,000
Maturity.
See text.
1,974,481 Dec. 1 1943
Co., Newark, Trustee.
gen/ 1900
5 A-O
500.000 April 1 1940
...tf[Guaranty Trust Co., New York. Trustee.
150,000 Feb 1 1939
Newark, Trustee.
750.000 July 11940
Co.. Newark. Trustee.
Bonds.—$1,128,372 of the 1903 bonds have been Issued in exchange for
the stocks of the companies consolidated and $846,000 for extensions and
improvements; $503 Is reserved for Central Electric stock not yet acquired
(the company having previously obtained the remainder of the $750,006
total stock of that company), $775,000 to retire the underlying bonds and
$125 for future additions and improvements.
No sinking fund, and bonds
cannot be called.
Central Electric bonds are subject to call at 110 and int.
Plainfield Gas & Elec Lt
mtge $500.000
Somerset
Lighting
Co first) 1899
5 F-A
mortgage $150,000
tflFidelity Trust Co.,
Cent Elec con nowlstM$750,-/ 1900
5 g J-J
000 ($500 & $1,000) g.c*tf lint, at Fidelity Tr.
V. 78, p.
107; V. 107, p. 84.
Electric & Traction Co.
South Jersey Gas,
leased to Public Service Corp. for 900 years from
of dividend, the maximum of 8% per annum
having been reached in the eighth year), and on Oct. 1 1909 so much of the
lease as relates to the manufacture and distribution of gas was assigned te
the Public Service Gas Co.
Its traction business Is leased to the Public
Service Ry. Co. and its electric business is leased to Public Service Electric
Co.
Public Service Corp. owns $3,507,000 of South Jersey Gas. Electric
This
company
was
June 1 1903 (at a graded rate
& Traction first mortgage
5s.
ORGANIZATION.—Incorporated Aug. 31 1900 to bring under one con¬
light and trolley interests in Southern New Jersey.
Also owns the entire capital stock ($600,000) of the Camden Gloucester
Woodbury Ry., which has been leased to Public Service Ry. Co.
trol the gas, electric
,
&
1st
mtge
goldj 1903
$15,000,000
($1,000)
Trenton G&E11st
Maturity.
$6,000,000
See text
12,892,000 Mch 1 1953
Outstanding.
Interest.
Date.
STOCK AND BONDS—
J-D
5 g M-S
Stock $6,000,000 ($100)
Tr. Co., Newark,N.J.,Trust.
5 g M-S
2,000,000 Mch 1 1949
Equitable Trust Co., N. Y., Trustee.
5 g M-N
100,000 May 1 1921
Burl. City L. & T. Co., Burl., Trust.
Int. at Fidelity
c*ntf
M $2,000,tf
1899
Int. at
000 gold ($1,000).
1901
Burlington Gas Lt Co 1st M
—.ntf Int. at
Bonds.—Of the new $15,000,000 issue, $2,108,000 are reserved to rettoe
prior liens.
No sinking fund and bonds cannot be called.—V. 76, p. 332.
1144, 1250; V. 78. p. 1449; V. 86, p. 1530; V. 95, p. 1685; V- 105. p. 1314.
New Brunswick Light, Heat & Power Co.
$100,000
ORGANIZATION.—Incorporated in New Jersey on Dec. 7 1899. Owns
Light Co. of New Brunswick, except directors'
Int. on bonds is paid by Public Service Gas Co. through lease of
The Gas Light Co. of New Brunswick.
See latter company below.
all the stock of The Gas
shares.
Interest.
Date.
STOCK AND BONDS—
Outstanding.
$400,000
J-J
($100)
$500,000
Stock $500,000
gold?
Maturity.
See text.
15 1939
1899
4 g J-D 15
500,000 Dec
($500 and $1,000)._.c*ntf tint, at Fidelity Trust Co., Newark,
First
mtge
(a) The Gas Light Co. of the
trustee.
City of New Brunswick.
ORGANIZATION.—Incorporated on Mar. 18 1851.
Stock authorized
owned by New Brunswick Lt., Ht. Sc Power
directors' shares.
Was leased to the Public Service Corp. fer
900 years from Jan. 2 1905 (June 1 1906 lease assigned to South Jersey
Gas, Elec. & Trac. Co.), rental being payment of int. on bonds of New
Brunswick Lt., Ht. & Pow. Co. and divs. on stock of Gas Lt. Co. of City ef
New Brunswick, as follows: 2% in each of the years 1905 and 1906, 234%
in 1907 and 1908. 3% in 1909 and 1910, 334% in 1911. 4% In 1912, 434%
In 1913 and 5% in 1914 and thereafter.
The company Is now controlled
by Public Service Gas Co. by reason of assignment 01 lease of gas properties
of South Jersey Gas, Electric <& Traction Co.
and outstanding, $400,000, all
Co. except
Gas
shares) is owned by
Gas Co.
Operates
Arlington, North Arlington and East Newark.
Outstanding.
J-D
1903
4 g J-D
$2.750,000($l,000)g-C*ntflint- at Fidelity Tr.
Underlying bonds assumed—
Stock $60,000 ($25);
all out; no bonds.
All of the stock (except directors'
Essex <fc Hudson Gas Co. and Newark Consolidated
Interest.
Date.
STOCK AND BONDS—
Stock $1,050,000 ($100)
Somerset Un & Mid Lt Co Mf
Sept. 1 1909 fer annual rental of
te Pablic Service Gas Co.
ORGANIZATION.—Incorporated in New Jersey.
rental, a dividend
1% ;Dee. 1 1906,
1908, 234 %; Dec. 1 1909. 3%; Dec. 1 1916.
334%; Dec. 1 1911 and thereafter, 4%.
So much of lease as relates to
manufacture and distribution of gas has been assigned to Pub. Serv. Gas Co.;
remainder of lease applying to electric properties has been assigned to
Rate
company
paid by Public Service Corporation,and, as
accruing as follows: From Dec. i 1905,
the stock
on
missioners, made on Dec.
Passaic division on Feb. 1
of 6 to 4. V. 99, p. 174®.
On
reversed its decision of Dec. 9
Lighting Co.
ORGANIZATION.—Incorporated in New Jersey on Dec. 1 1903 in the
Corporation, as a consolidation of Somerset Light¬
ing Co. of Somerville, N. J.; Plainfield Gas & Electric Light Co. of Plalnflmd, N. J., and Citizens' Electric Co. of North Plainfield (V. 78, p. 107).
On Dec. 30 1903 Central Elec. Co. was also merged In the same.
Public
Service Corp. owns $422,400 of the stock, $573,182 Som. Un. & Mid. Ltg.
Co. bonds, $21,000 Somerset Ltg. Co. 1st 5s and $20,200 Cent. El. Co. 5s.
Interest of Public Service
8en County. V. 89,Public Service Operating agreement betweenthe Public
las Light Co. and
p. 594, 721. Corp. was also assigned to Plainfield
gas
[VOL. 110.
ELECTRIC RAILWAYS
76
&
Electric
of
Co.
Bergen
County.
leased to the Public Service Corp.
Dividends are 2% for first two years,
LEASE.—Was
Jan.
1905.
1
for 999 years from
234% for the next
3% for the ,iext two years, 4% for the next four years and 5% there¬
after.
Oct. 1 1909 so much of lease as relates to manufacture and dis¬
tribution of gas was made over to Public Service Oas Co. and in July 1910
lease of electric properties was assigned to Public Service Electric Co.
year,
Is a consolidation of several
Public Service Corp. owns $1,655,-
ORGANIZATION.—Incorp. May 31 1899.
small gas and electric-light companies.
000 of general mortgage No. 2 bonds.
On
May 10 1918 Issued $700,000 5%
Gen. Mtge. No. 2 bonds.
Outstanding.
Maturity.
$10,500,000
1899
5 g M-N
10,500,000 Nov 1 1949
geld
ntf/N. J. Title Gu. & Tr. Co., Jersey City, trust.
PLANT.—Controls all gas plants in Jersey City, Hoboken and Bayonne.
—V. 78. p. 779: V. 84, p. 1555; V. 107, p. 407.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
MaturityStock$2.000,000 ($100)
$2,000,000
See text.
Gen mtge
No. 1
$5,000,000/ 1904
5 g M-N
38,000 Nov 11954
gold ($1,000)
tf [Equitable Trust Co., N. Y.t trustee.
Gen mtge No. 2$5,000,000 tf/ 1904
5 M-N
3,271,000 Nov 11954
Ridgewood Gas Company.
ORGANIZATION.—Incorporated April 24 1900.
Is leased to Public
Service Gas Co. for 999 years from July 11910 at rental of $2,000 per ann.
Consolidated mortgage $1,-/ 1899
5 g J-D
500,000 gold
ntflFidelity Trust Co.,
Englew G & E 1st mtge__ntf. 1899
5 J-J
Hack Gas & Elgen mtge.ntf. 1895
5 J-J
Hack G L 1st M ($1,000) cntf 1894
5 J-J
Interest.
Date.
STOCK AND BONDS—,
Stock $10,500,090 ($100)
First
mortgage
$10,500,000/
Interest.
Date.
STOCK AND BONDS—
Steck
Outstanding.
Maturity.
$100,000
$100,009
$100,900 ntf j
1900
Second mtge $100,600—ntf /
1905
First mortgage
5 J-D
5 A-O
lint, at
100,000 June 1 1925
85.000 April 1 1925
Equitable Tr. Co., N. Y., trustee.
lint, at Fidelity Trust Co.. Newark. Trustee.
Morristown
ORGANIZATION.—Incorporated
Shore Lighting Co.
In New Jersey on Feb. 19 1855.
999 years from July 1 1910.
Rental
equal to 5% per ann. on outstanding capital stock.
Stock eut., $367,500
($199), all owned by Public Service Corporation, except directors' shares
No bonds.
The Paterson & Passaic Gas & Electric Co.
This company was leased to Public Service
from June 1 1903.
Under lease, div. rate was
5%
per
Service Gas Co.
Corporation for 900 years
gradually Increased and is
1909 gas part of lease assigned to Public
and in July 1910 electric part of lease assigned to Public
annum.
In Oct.
Service Electric Co.
Is a consolidation of the varl
and lighting properties of Paterson and Passaic.
Public Service Corporation owns $269,700 of the stock.
ORGANIZATION.—Inc. Feb. 28 1899.
ous gas
mtge
$5,000,000
gold/
I
Electric
J-D
5 g M-S
111
1st
$600,000
Passaic Lighting Co cons
$450.000
National Bank, New York.
1895
5 g J-J
585.000 July
tf]Guaranty Trust Co., trustee.
6 g J-D
50,000
P*£?£19.JGaa LI«ht l8t mtgef 1892
$50,000
ORGANIZATION.—Incorporated March 21 1911 In New Jersey and is a
consolidation of Shore Elec. Co., Sea Bright Elec. Lt. Co. and Citizens'
Lt. <fc Fuel Co. of South Amboy.
$104,900 of stock owned by P. S. Corp.
The electric properties have been leased to Pub. Serv. Blec. Co. and the
gas properties to Pub. Serv. Gas Co.; the leases are for 900 years from May 1
1911 and provide for payment of interest on bonds and amount equivalent
to 5% per annum on the authorized stock.
STOCK AND BONDS—
Stock $112,000 ($100)
First mortgage $400,000
($500)
or First
June 1 1922
ntf [Paterson Savings Institution, trustee.
Date.
Interest.
Outstanding.
Maturity.
$112,000
gold/ 1911
5 g A-O
400.000 April 1 1951
tfllnt. at Fidelity Tr. Co., Newark. N. J..trust.
were issued to take up $341,500 Shore Electric
to take up $46,800 Olt. Lt. & Fuel Co. bonds; are
prln. <& int.. by Public Service Corp.—V. 92, p. 1640.
Bonds.—$341,500 bonds
Oo. bonds and $58,500
«uar..
Princeton
4,049,000 Mch 11949
1 1925
ntf \Paterson Safe Dep & Trust Co., trustee.
mtgf 1895
5 g M-N
316,000 May 1 1925
mtgef
/
$4,999,516
1899
Maturity
c*ntf{lnt. at First Nat. Bank, Paterson,
($1.000)
Edison
Outstanding.
—
Stock $5,000,000 ($100)
Cans
Interest.
Date.
STOCK AND BONDS—
1,443,000 June 1 1949
Newark, trustee.
23.000 Jan 11939
10.000 July 1193$
24.000 July 1 1984
Bonds.—Of the general mortgage for $5,000,000, $1,538,000 Is reserved
to retire prior liens and $191,000 for additions and improvements.
The
gen. mort., of which the Equitable Trust Co. is trustee was superseded
by the similar mtge. of which Fidelity Tr. Co. is trustee.
V. 106, p. 1130.
Gas Light Co.
Leased to Public Service Gas Co. for
now
[Fidelity Trust Co., Newark, Trustee
In
Light.
Heat
&
Power
1910 Public Service Corp. acquired control.
Service Corp. owns
Co.
V. 91, p. 399.
Publlo
$115,850 stock.
ORGANIZATION.—Incorporated in New Jersey on July 31 1905 as a
consolidation of Princeton Elec. Light Works, Princeton Gas Light Co. and
Hopewell Elec. Lt.. Heat <fc Pow. Co.
Electric properties have been leased
to Pub. Serv. Elec. Co. and gas properties to Pud. Serv. Gas Co.. the leases
being for 900 years from May 1 1911. and providing for payment of interest
on bonds and amount equivalent to 2%
per ann. on outstanding stock.
Maturity
Outstanding.
Interest.
Date.
STOCK AND BONDS—
$122,600
lit ref mtge $250,000 gold a fj 1909
5 g P-A
170.600 Fib 1 1939
($100, $1,000 or Cr*c)-cHf{lnt. at Equitable Trust Co., N. Y., trustee.
Bonds.—Bonds are guar., p. A 1., by Pub. Serv. Corp.
Red. on any
Int. day at 106 and Int.
Sinking fund 4% of gross earnings or company be¬
Stock $260,000
gan
($60)
-
SECURITIES OF JERSEY
CO.—(See map on pages 80 and 81.)
Corporation through ownership of all but
PUBLIC SERVICE RAILWAY
ORGANIZATION.—Organized Aug. 30 1907 as a consolidation of the
North Jersey Street Ry. Co.. Jersey City Hoboken A
and United 8t. Ry. Co. of Central Jersey. V. 85. p.
Paterson St. Ry. Co.
406. For basis of ex¬
companies for stock of new company, see this Sec¬
tion for Sept. 1915. North Jersey St, Ry. In Jan. 1898 absorbed the Newark
A So. Orange. The Jersey City Hobok. A Paterson was a consolidation In
Nov. 1899 of the following: Jersey City Hoboken A Rutherford Elec. Ry.
Co., Palisades RR. Co., Paterson Central Elec. Ry. Co., Paterson Horse
RR. Co.. Paterson Passaic A Rutherford Elec. Ry. Co., Saddle River Trac.
Co., White Line Trac. Co., formerly the New Jersey Elec. Ry. Co.
In
1901 It absorbed Paterson Ry. Co. and North Hudson Co. Ry. Co.
United Street Ry. Co. of Central Jersey was a consolidation In July 1907 of
Elizabeth Plalnfleld A Central Jersey Ry. Co. (which was chartered In 1900
as a consolidation of Plalnfleld St. Ry. Co. and other companies) and Eliza¬
beth A Raritan River Street Ry. Co. (which was a consolidation on April 30
Traction Co. and East Jersey Street Ry. Co.
previously absorbed Raritan Traction Co.,
1904 of Middlesex A Somerset
company
had
5 J-J
2.998.000 July 1 1928
(now 1st) mortgage] Int. at First Nat. Bank, Hoboken. E. A.
c*ntf I
Stevens and S. B. Dod, trustees.
1
Nor Hud Co Ry impt mtgef 1894
5 M-N
1,291,000 May 1 1924
$1,292,000 ($1,000)
tf lint, at Fidelity Trust Co., Newark, Trustee.
Weehawk en Extension Mort-f 1895
5 F-A
100,000 Feb 1 1945
gage $100,000
ntf ^Fidelity Trust Co., Newark, Trustee.
Paterson Ry Con M(nowlst)J 1891
6 g J-D
1,250,000 June 1 1931
g
Bonds.—$5,939,000 J. O. H. A P. first 4s are reserved for prior liens.
bonds outstanding, $1,498,000 are owned by Pub. Serv.
The 2nd 5s of the North Hudson County Ry. expired May 1 1904,
but were extended until May 1 1924.
See V. 78, p. 1392. These bonds
are redeemable at 110 and Int^on any Int. date.
V. 78, p. 1392. See also
V. 97, p. 1664. 1899.
The Weehawken Extension mtge. bonds were due
Feb. 1 1915 but were extended for 30 years.
V. 100. p. 399. The Paterson
Ry. 2d gen. M. 6% bonds fell due Oct. 11914 but were extended for 30 years
at 5%.
V. 98. p. 1993; V. 99. p. 1053.
Red. April 1 1931 and on the first
day of any succeeding Oct. or April by Public Serv. Ry. Co. in manner
provided In mortgage.
Terminal.—On
Dec.
28
1915 stockholders
ratified the
(approved by the Board of P.U.Comm.) of the Public Service Ry.
and the Public Service Newark Terminal Ry Under the name of the former
through an exchange of stock, share for share, effective Jan. 1916.
The
Terminal Ry. Co. was incorporated In April 19l3 to construct an office and
terminal building and approaches in the heart of the business section of
Newark.
(For description of property see V. 100, p. 2011.)
The entire
property Is leased for 50 years from date of occupancy to the Public Service
Ry. Co. (with which the co. was subsequently merged). Public Service Gas
Co. and Public Servioe Elec. Co. for a rental not less than a sum sufficient
to pay the taxes, water rates, maintenance and interest and sinking fund
requirements on the 1st M. bonds.
The terminal was opened for street
railway operation on April 30 1916; offices occupied in July 1916.
Plans
for combining the company's terminal facilities with those of the Hudson A
Manhattan RR. are under consideration.
See V. 104. p. 765.
In addition to above/Public Service Ry.leasee Consolidated Traction Co.,
ST. RY. CO. OF CENTRAL JERSEY.
Date.
Interest. Outstanding.
Maturity.
1900
5 g J-D
$2,400,000 Dec 1 1959
$2.500.000($1 001)g.c*ntf(Interest at Fidelity Trust Co., Newark,
No s f A cannot be called!
Trustee.
Plalnfleld Street Ry first rntgf 1892
5 J-J
100.000 July 1 1922
($1,000) Call in 1904.c»ntflint, at Fidelity Trust Co., Newark, Trustee.
Elizabeth A Raritan Riv Stf 1904
5 g M-N
1,500.000 May 1 1954
Ry gen M $3.500.000.--tf I Fidelity Trust Co., Newark, Trustee.
Brunswick Trac M g ($1,000) ( 1896
5 g J-J
600.000 July 1 1926
Cannot be called
c^ntflFidelity Trust Co., Newark, Trustee.
Middlesex A Somerset Trac g/ 1900
5 g J-J
1,000,000 Jan 11960
M $1.500,000($1,000) c*ntf Int. at Fidelity "
" Trust Co., Newark, Trustee.
' ~
1904
5 g M-N
500,000 May 1 1944
East Jersey 1st mtge $500,000 gold guar p AI
tf Perth Amboy Tr. Co.. Perth Amboy. Trust.
Bonds.—Of the total Issue of Ellz. Plain. A Cent. Jer. Ry. Co. bonds dated
1900, $100,000 Is held to provide for like amount of Plalnfleld Street Ry. Co.
bonds.
See V. 71, p. 1310.
Of Ellz. A Raritan River Street Ry. Co.
gen. mtge. of 1904, $2,000,000 are reserved to retire prior liens. Pub. Serv.
Corp. owns $154,000 Ellz. PL A Cent. Jers. 5s and $274,000 Ellz, A Rar.
SECURITIES OF UNITED
Bonds of Constituent Cos.—
Ellz Plain A Cent Jer mtgef
Maplewood Traction Co., Bergen Turnpike Co., Orange A
Co., Camden A Suburban Ry. Co., Camden Gloucester
Passaic Valley Ry.
River Ry. A Ferry Co. and
below. Also owns all stock
St. Ry. bonds.
Dividends.—First div.—2-3%—paid Dec. 31 '08; In *09. Dec., 2%; In *19,
1 k%; In '12. Dec.. lk%: in *13. Dec.. lk%; in '14,
2%; in *11. Dec
Practically entire stock owned by Public Service Corporation
Dec., 1
ends no longer reported.
and
River
Elevating Co.
Completed In 1912 a terminal station at Sip Ave., Jersey City, connect¬
ing with the Penn. RR. statlpn and also with the tunnel station there.
A terminal station at Hoboken connecting with the D. L. A W. RR.
station and also with tunnels terminating there was completed In May 1910
Bergen Turnvike.—See Bergen
License Fee
Invalid.—The Supreme Court
passed by the Hoboken City
has obtained a writ of
review the ordinance.
was
nance
but the company
will
Transfer Decision.—On June
,
dividend
of New Jersey Oct. 21 1911 set
Paterson Imposing a license fee
the city limits. A similar ordi¬
8ervice Comm. on Aug. 4 1915,
certiorari and the Supreme Court
21 1912 Court of Errors
fers on a
and Appeals af¬
Supreme Court on Dec. 26 1911, which sustained the
Utility Comm. requiring the company to continue the
all intersecting lines In Newark, but did not grant trans¬
put Into effect
3 cents for the
transfer privi¬
unprofitable the
V. 109, p. 477.
The zone system having proven
Dec. 7 1919 (by order of the P. U. Comm.) went back to
fare with a 1 cent charge for transfers.
V. 109. p. 2172. 2263.
leges.
on
the 7-cent
Decision.—See V. 110, p. 971.
Extension.—As a result of a compromise with the Emergency
Fleet Corp., construction of the Port Newark trolley extension from Ham¬
burg Place, Newark, to the shipyards of the Submarine Boat Corp. was
commenced on April 12 1918.
Fares on this extension are 5 cents. It being
considered a separate zone, making a 10-cent fare from the centre of New¬
ark.
V. 106, p. 1689.
The extension was put In operation on Sept. 1 1918.
In Dec. 1917 the N. J. P. U. Comm. auth. the co. to Issue $1 250,000
Port Newark
proceeds to be used for
developments, Ac.
Up to Mar. 26
Issued.
„
Wage Increase.—V. 105, p. 1310; V. 107, p. 502; V. 109, p. 888.
Strike.—The employees of the co. on Mar. 12 1919 went on a strike de¬
manding recognition of their union, a 10-hour wage for a 9-hour day, Ac.
The strike came to an end on Mar. 17 1919, when the co. agreed to treat
with the union, but reserved the right to treat with the non-union nvm also.
V. 108, p. 1166.
The other disputed points were submitted to the War
Labor Board.
See V. 109, p. 888.
this had not been
^
STOCK AND BONDS—
Stock $50,000.000 ($100)—
IstM
$5,000,000 g ($1,000)—c»tf
Car trust certs Ser "B
tf
P. S.Newark Term.Ry.
Car trust certfs Ser
"O"
Car trust certificates,
tf
Ser D_
Date.
1910
stocks are owned.
Stock, debts and
1912
1917
See text
Co., Phila., Pa., trustee.
See text
125,000
5 M-S
Penn. Co. for
Ins. on L. A G. A., Trustee.
See text
660.000
5 M-N
Phila.,trustee
263.435
reserved to retire outstanding
stock of consolidated cos.
Ry. bonds are unconditionally guar, as to
sinking fund by endorsement. Jointly and severally, by the
and Public Service Corp. of New Jersey.
Sinking
fund of $30,000 annually beginning April 15 1920.
Red. as a whole on or
after June 1 1920 at 105 and Int. on six weeks' notice ; also callable for akg.
fund on June 1 each year, beginning In 1920, at 102 k (V. 100, p. 2011).
Car Trust Certificates —Series "B" certificates mature $22,000 on each
Jan. 1 and $23,000 on July 1.
Series "C" certificates mature $25,000
every March 1 and Sept. 1.
Series "D" certificates are secured on 150
cars and mature $44,000 s.-a. May 31 and Nov. 30.
prin.. Int. and
Public Service Ry. Co.
SECURITIES OF NORTH
Date.
$15,000,000
gold ($1,000 each).
tf
mortgage
Of the 1st mtge.
JERSEY STREET RY.
Interest.
Outstanding.
-
Maturity.
1898
4 g M-N $15,000,000 May 1 194$
is MBankers' Trust Co., New York, Trustee.
_
.Interest at Fidelity Tr. Co., Newark. N. J.
bonds, $7,230,000 are owned by Public Service Corp.
mileage of the leased
Rapid Transit Street Ry_.—
j Jersey
RR
City Harrison A Kearney
1.000,000
40.000 shares
Railroad.
(a) Jersey City & Bergen
ROAD.—Owns from Jersey
•
First
414 J-J
$1,000,000( 1873
($1.000)
.
Bonds.—The bonds
650.000
total track. 4114
mortgage.
-
mortgage
258.000
Traction Co., all the stock being de¬
posited as part security for the Traction Oo. 1st
STOCK AND BONDS—
Date.
Interest.
Stock
500.000
^
Olty to Bergen Point, Ae.,
Controlled by Consolidated
debt.
$6,000,000
•100.000
162.000
10
Ry
Newark Plank Road
4 4-5
! Passaic A Newark Electric Traction.-—10k
Port Richmond A Bergen Point Ferry.- —
•
On this $18,000 has been paid in.
i
miles.
$500,000
6.000.000
504,000
1,000.000
—83
—12
—41)4
Newark Passenger Ry—
Jersey City A Bergen
and controlled lines: Funded
Stock.
Miles.
—None
| New Jersey Traction Oo
Outstanding.
Maturity.
$1,000,000 f.-p
258,000 Jan 1 1928
c*ntflInt.atBkrs.Tr.Co.,N.Y.,or IstNat.Bk., J.O.
(originally 7s) matured Jan. 1 1903, but were ex¬
from that date.
tended as 4Ha for 20 years
(b)
Newark
Passenger
Railway.—Electrie.
ORGANIZATION.—Incorporated June 16 1890. On July 29 1$98
Traction for 999 years, and so controlled by ens Con¬
solidated Traction Co. of New Jersey, N. J. Traction Co. having been leased
to Cons. Trac. Oo. Jan. 2 1894 for 999 years. Charter said to be perpetual.
LEASE AND RENTAL.—Rental under the lease, $105,000 yearly.
STOCK AND BONDS—
Par.
Interest. Outstanding.
Maturity.
Stock
$100
Text
$6,000,000 Own.byC.Tr
1 1930
leased to New Jersey
*
23,000
5 J-J
Int. at Fidelity Tr
Bonds.—The P. S.Newark Term.
First
—
"
"
"
5 g J-D
5,000,000 June 1 1955
Int. at Fidelity Trust Co.. Newark, Trustee.
lint, at Philadelphia Trust Co.,
Incl. $18,400
J-J 15
($100)
1915
Real estate mortgages
a
Maturity
Outstanding.
a$48,750,000
ttaie.
See text.
$15,000,000
7,808.000
1893
5 g J-D
15.000,000 June 1 1933
000 ($1.000)
tf I Interest at Bankers Tr. Co., N. Y., Trustee.
The gold bonds of 1893 are secured not only by mortgage, but also by
deposit of $1,000,000 stock of J. O. A Bergen RR., $161,625 stock of
Newark Plank Road Co., $6,000,000 stock Newark Passenger Ry. and $99.100 stock or Jersey City Harrison A Kearney Ry. Oo.
ROAD.—Operates about 190 miles of track. Including the N. J. Traction
Co.. Newark Passenger Ry.. J. O. A Bergen RR., Passaic A Newark Elee.
Trac. Co., J. O. Har. A K. RR. and Newark Plank Road, all of whose
Stock all paid in
Underlying bonds—see below.
First mortgage gold $15,000,-1
Fare
1920
_
&
Street Ry. for
Aug. 1 1919 the New Jersey P. U. Comm. auth. the co. to
on Sept. 14 1919 a zone system, under which the charge was
first zone mile and 2 cents for each additional zone mile; no
stock at par,
connections,
Consolidated Traction Company.
_ncorporated Mar. 15 1893.
On June 1 1898 leased to North Jersey
999 years, and lease has now passed to Public Serv. Ry. Co.
V. 66, p. 1141.
Validity of lease was affirmed in Feb. 1902 (V. 74, p. 380)
and again In Feb. 1903.
V. 76, p. 382.
Dividends under lease are now 4% per annum.
Maturity.
STOCK AND BONDS—
Date.
Interest. Outstanding.
transfer.
Fares.—On July 12 1918 the N. J. P. U. Comm. turned down the co.'s
application for auth. to increase fares from 5 to 7 cents and to charge 2 cents
additional for transfers issued on cash fares, and 1 cent for each transfer
Issued on a transfer, but auth. the co. to collect a war surcharge of 1 cent,
effective Aug. 1 1918, on initial transfers.
V. 107, p. 182 , 402. Compare
V. 106. p. 1037, 1345, 1462.
The company was required to submit a plan
for an equitable zone system by Jan. 1 1919, and on Dec. 30 1918 this was
accordingly done.
V. 107, p. 2477.
On Aug. 6 1918 another application
for authority to charge 7 cents on all lines was made to the New Jersey
P. U. Comm., the company claiming that the wage award by the War
Labor Board (V. 107, p. 502) necessitated such an increase.
V. 107, p.
604. 803.
This time the P. U. Comm. granted the petition upon the
recommendation of the War Labor Board.
The 7-cent fare remained in
effect until March 31 1919, when a 6-cent fare was to be charged, until the
New Jersey P. U. Comm. gave orders to the contrary.
The war surcharge
on transfers noted above continued to remain In effect.
V. 107, p. 1288.
On Oct. 18 1918 Justice Swayze in the New Jersey Supreme Court filed an
opinion affirming the Commission's order increasing fares as above.
V. 107,
p.
1580.
On Nov. 25 1918 the decision was sustained by the Court of
Errors and Appeals at Trenton, N. J.
V. 107, p. 2098; V. 108, p. 974.
On Mar 3 1919 the New Jersey P. U. Comm., reversing its decision of
March 26 1919 (V. 108, p. 1391), ordered the 7-cent fare restored.
On
co.
539.031 miles
300.495 miles 2d main track and turnouts and 58.714 miles
loops, yard track, Ac.
Total, 898.240 miles of trade.
595 open and 1.777 closed cars.
Passengers carried in 1919, 396,689,234, of which 327,619,606 were rev¬
enue and 69,069,628 transfers and passes.
In 1918, 451,220,806, of which
353,190.897 (excl. passengers paying for transfers) were revenue and
98,029.909 transfers and passes.
OFFICERS.—Same as for Public Service Elec. Co., except that R. B.
Danforth is the V.-P. & Gen. Mgr.—V. 108, p. 1061, 1166, 1391. 193
V. 109, p. 477, 888, 1462, 1610, 1700, 1892, 2172, 2263; V. 110, p. 971.
of
firmed the decision of
order of the Public
Issue of transfers to
(including Public Service Railroad)
ROAD, Ac.—Owns
first main track,
Turnpike Co. below.
as Invalid an ordinance of the City of
ST $25 for every trolley car operated within
aside
-
„
of People's
Sale of
Co., N. Y., Trustee.
300,000 Oct 1 1944
Newark, N. J., Trustee.
Of the J, O. H. A P.
Newark
Woodbury Ry. Co., New Jersey A Hudson
Riverside Traction Co., which companies see
($1,000) ctflColumbia Trust
mortl 1894
5 A-O
time (Fidelity Tr. Co.,
cntff
Corp.
merger
A
$1,250,000
Ry 2nd gen
$300,000 red at any
($500 and $1.000)
Paterson
Traction Co.)
RR. Co. and East Jersey
South Orange A
4 g M-N $14,061,000 Nov 1 1949
at New Jersey Title Guarantee A
Co.* Jersey City, Trustee.
$3,000.000
change of stocks of these
latter
RY.
Maturity.
Outstanding.
Interest.
Date.
consol
Controlled by Public Service
26 shares of stock.
No lease
Perth Amboy
CITY HOBOKEN A PATERSON ST.
City Hoboken A Pater-f 1899
son
1st mtge gold
$20.-(Interest
000,000 ($1,000)
c»ntf I
Trust
Bonds of Constituent Cos.—
North
Hudson County
Ryl 1888
Jer
In 1910.—V. 91. p. 399.
which
77
ELECTRIC RAILWAYS
Ape., 1920.]
Consolidated
Traction Co. first mortgage.
.
6a is payable at First National Bank, Jersey City.
A 1. by Consol. Trac. Oo. and In Feb. 1896 the
stamped on bonds. V. 59, p. 969; V. 81, p. 900.
ROAD.—Embraces about 83 miles of track.—V. 81. p. 900.
Interest on consol.
The consols are guar. p.
guaranty was
(c) Rapid Transit Street Railway Co. of the City of Newark.
ORGANIZATION.—June 1 1893 leased to Newark Passenger Ry. for
and Included with It In lease to New Jersey Traction, and so
999 years,
forms
part of
Consolidated Traction system.
ETC.— Par.
Interest.
Outstanding. Last div.,Ae
$504,000
See text
A-0
500.000 April 1 1921
at Fidelity Trust Co., Newark, Trustee.
Dividends of Ilk % yearly are guaranteed by the Newark Passenger and
New Jersey Traction companies upon the stock.
(d) Passaic & Newark Electric Traction Co.
ORGANIZATION.—Incorporated April 30 1895 and acquired all the
$1,000,000 stock of Passaic A Newark Electric Ry.
Consolidated TraoMon Co. owns all the stock and guarantees the bonds.
STOCK AND BONDS.—
Date.
Interest. Outstanding.
Maturity.
Stock $1,000,000 ($100)---- -------$1,000,000
1st M $1,006,000 guar p A 1/ 1897_ 5 g J-D
,.550.000 June 1 1937
by Consol Trac or N J—tfllnt. at N.J. Title Gu.ATr. jersey City ,Trus.
STOCK, BONDS.
Stock
11X J-D30
-
($1,000
First mtge $500,000 g-.c*ntf
Subi. to call at 110 A Int.Unt.
ELECTRIC
78
I
(2) South Orange & Maplewood Traction Co.
This company was leased on Oct. 1 1903 to North Jersey St. Ry. Oo. (now
merged In Public Service Ry. Co.) in perpetuity, the rental being $2,000
on
tne
year,
preferred stock for first year and increasing $500 yearly until ninth
when $6,000 is paid, which amount is to be paid thereafter.
Rental la
guaranteed by Public Service Corporation of New Jersey.
V. 77. n. 824.
ORGANIZATION.—Consolidation in July
1001 of South Orange ft
Maplewood Tr. Co. and South Orange ft Maplewood St. Ry. Co.
•utn. and out., common, $75,000;
preferred. $150,000.
Stock
No bonds.
PUBLIC
capital (j$10 shares).
Jersey City floboken ft Paterson (now merged In the
Public Service Ry. Co.) owned a majority of the stock and guaranteed its
$1,000,000 5% bonds, dated 1901, due July 1 1951; Interest J-J <tf>; prln.
and int. payable New Jersey Title Guar. & Trust Co., Jersey City, trustee.
In Dec. 1915 the turnpike between Hackensack and the Hudson County
line, south of Falrview, over which an electric road was construe ted In 1902
was turned over to the Bergen County Board of Freeholders for the sum of
$1, the P. S. Corp. giving a bond assuring the payment of the $1,000,000
5% bonds due 1951.
V. 101, p. 1974.
(4) Orange 5c Passaic Valley Ry. Co.
Leased for 900 years from Nov. 1 1903 to Public Service Corporation foi
interest on the trust certificates Issued In exchange for stock.
Lease was
assigned to North Jersey Street Ry. Co. July 23 1907 and now held by
Public Service Ry. Co.
$923,500 of the stock owned by Pub. Serv. Corp
ORGANIZATION.—Incorporated in 1898 as successor of Suburban
Traction Co., sold in foreclosure July 6 1898.
BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock
$1,000,009
1st rntge $1,000.000
tf? 1898
6 J-D
833.000 Dec
11938
IN. J. Tit. Ou. ft Tr. Co. of Jersey City, Trus.
$83,000 of outstanding bonds are owned by Public Service Corporation.
—
being
,
^
charge of 10 cents, except between Chrome Junction and Chrome, between
which points a 5-cent fare
(1)
Elizabeth
Sc
Lease.—Leased
Public Service
is to be continued.
RR.
Trenton
RR. Oo.)
■
,
Terminal
Trenton
to
RR.
for 999 years from
(subsequently merged
April 1 1912.
Rental 5%
In
oo
outstanding pref. stock, and. beginning with the year ending April 1 1915,
1% on outstanding com., with additional 1% annually until 4% Is paid.
V. 94. p. 697.
ORGANIZATION.—Incorporated In New Jersey on May 19 1910 as
to the Trenton ft New Brunswick RR.
successor
Line RR., both sold at foreclosure.
STOCK AND BONDS—
ana
the New Jersey Short
See plan In V. 89, p. 1282, 1349.
Interest.
Date.
Common $900,000 ($50)
Pref $300,000 5% cum ($50)
Outstanding.
A-O
A-O
Maturity.
$811,350
180.300
First
mtge $1,200,000 gold)
1912
5 g A-O
990.000 Apr 1 1962
($1,000)
c*.tf/Int. at Logan Trust Co.. Philadelphia, Trus.
Bonds.—First mtge. bonds are subject to call as a whole on any Int. day
at 110 and Int.
Prln. and Int. are guar, under terms of lease by th«*
Trenton Terminal RR., whose obligations are guar, in turn by the Publie
Service RR. and the Public Service Corporation.
ROAD.—Owns 49.656 miles equivalent single track; standard-gauge
closed cars.
V. 90, p. 1362; V. 94. p. 697.
NEW
ORGANIZATION.—Formed
In
sued
owned
stock in exchange the Union St. Ry. Co.
the Taunton
Lease was assigned to Public Eany Is$50,000 in the same interest as for the $150,000 stock of In June 1906
ft Buzzard's
new
1896.
Controls
Camden
Horse
STOCK AND BONDS—
Date.
Interest.
1st mortgage $3,000,000
($1,000)
Q-F
gold/
1896
5 J-J
Outstanding.
Fare Increase.—The Mass. P. S. Comm. in Oct.
Maturity.
See text.
See text
$1,940,000 July
11940
Slock.—The stock Is all outstanding; 20% paid In.
Bonds.—Of the 1st mtge. bonds. $1,000.000 are reserved to retire stock of
Camden Horse RR. and $60,000 are for extensions.
V. 94. p. 1185.
ROAD.—Operates 9L3 miles of track.
Connection through to Trenton
V. 78, p. 1781.
1117, 1185.
Is made over Riverside Traction (now leased by P. 8. Ry.).
2383; V. 88. p. 1126; V. 89.
154; V. 94,
p.
p.
(a) Camden Horse Railroad Co.
1917 authorized the dis¬
continuance of the sale of 20 tickets for $1 and the adoption of a straight
6-cnt fare.
V. 105, p. 1420.
Compare V. 101. p. 923.
In Aug. 1918 was auth. by the Mass. P. S. Comm. to increase fares from
6 to 7 cents on the condition that workingmen's reduced rate tickets be
made
universally valid instead of being accepted only
STOCK AND BONDS—
Stock. $550,000 ($100)
bonds have
M
30.11 miles of track.
(6) Camden Gloucester 5c Woodbury Railway Co.
Leased to Public Service Ry. Co.
ORGANIZATION.—Entire $600,000 stock Is owned by South Jersey
Gas, Electric ft Traction Co.
All bonds have been canceled.
ROAD.—Comprises 25 miles of road.
(7) People's Elevating Co.
ORGANIZATION.—Incorporated In Nerw Jersey May 31 1899.
Ry. Co.
Date.
Stock. $250,000 ($100).
mortgage.
gold
Interest.
-
$250.000,\
1899
5 g A-O
Outstanding.
$250,000
175.000 Oct
1
1939
ORGANIZATION.—Incorporated at Trenton, N. J.,
on Feb. 25 1910
consolidation of New Jersey ft Hudson River Ry. & Ferry Co. and
River Traction Co.
This company owns the entire capital stock
and bonds of The Riverside & Fort Lee Ferry Co., owner of the West 130th
a
Hudson
St.
Ferry.
These securities are all deposited under the $5,000,000 mort¬
gage.
Franchises perpetual except one for 60 years and one for 99 years.
Chiefly private right of way.
Fares.—For suit brought In U. S. DIst. Court asking that a resolution
passed by the Board of Chosen Freeholders of Bergen County, N. J., re¬
ducing the fares of this co. be declared Illegal and void, see V. 99. p. 407
Date.
Interest.
Outstanding. Dividends.
$2,500,000 See text
0 F-A
750,000 See text
1900
4 g M-S
4,011,000 Mar. 1 1950
$5,000,000 g ($1,000).c*tf J Int. at U. S. Mtge.&Tr.Oo., N.Y., Trustee.
Hud RlvTrac 1st M, $1,000,-1 1902
5 g M-S
631,000 Mar. 1 1950
000 g ($1.000)
tfllnt. at U. S. Mtge. ft Tr. Co., N.Y., Trustee
Stock.—Pref. stock Is redeemable at 115 and accrued dividends.
$l .500
pref. stock In treasury.
Bonds.—N. J. ft Hud. River Ry. ft Ferry Co. bonds can be called on
any
int. day at 105 and Int. upon six weeks' notice.
V. 80, p. 998.
Hudson
River Traction bonds are subject to call on any Int. date at 110.
$67,000
are owned by N. J. & II. R. Ry. ft Ferry Co.
REPORT.—Included In Public Service Ry.
ROAD.—Owns and operates 31.33 miles of track from Edgewater, N. J.
(terminal of W. 130th St. ferry, N. Y. City), to Englewood, Hackensack
and Paterson; also 17.11 miles of track from Hackensack to Hasbrouck
Heights, Woodrklge. Rutherford to Arlington and a branch line from Has¬
brouck Heights to Lodi.
The cars of this company operate to the business
centres of Newark, Passaic and Paterson.—V. 92, p. 462; V. 99,
p. 407.
Stock, com, $5,250,000 ($100)
Stock, pref, $750,000 6% cum
N J & H R RY ft F Co 1st M.l
(9) Riverside Traction Co.—Trolley
Lease.—Company Is leased for 999 years from April 1 1912 to Public
Service Ry.
Tne lease provides for int. on bonds 5% dlvs. on outstanding
pref. stock and a div. on com. amounting to $14,193 the first year. In¬
creasing annually until seventh year, when the maximum of $20,169 will
have been reached.
V. 94. p. 699.
ORGANIZATION.—Incorp. In New Jersey June 20 1910 as successor to
Camden ft Trenton Ry., sold at foreclosure. See plan. V. 88, p. 1126.
Owns 395 out of 400 shares (par $50) of the capital stock of the Clnnamlnson Elec. Lt., Pow. ft Htg. Co. of RIverton, N. J., which supplies the
towns of Beverly, Delanco, Riverside. RIverton and Palmyra, with light.
Also owns entires pltal stock ($50,000) of the Bordentown Elec. Co.. which
supplies light to B ordentown and vicinity.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Common. $1,100,000 ($50)
$747,150
Preferred, $400,000 ($50)
5%
260.500
First M $1,500,000 g ($100,1
1910
5 g J-D
1,500.000 June 1 1960
$500&$1.000)call atllOtfflnt. at West End Trust Co.. Phila.. Trustee.
Bonds.—Subject to call, all or any, on any interest day at 110 and Int
Interest is guaranteed by Public Service Ry. V. 94. p. 280. 352.
ROAD.—Comprises 32.96 miles of track between Trenton and RIverton
(where connection is made with Camden ft Suburban Ry. Tracks).
By a
contract between this company and the Camden ft Suburban, the Riverside
Traction
cars run direct to Philadelphia Ferry at Market and Federal
streets.
Camden.—V. 93. p. 408; V. 94. p. 280. 352, 699.
'
Paterson
& State Line Traction Co.
Stock all owned
by the Public Service Railway Co.
ORGANIZATION.—Incorp. In New Jersey Nov.
15 1901.
Stock
authorized, $300,000 (Increased in July 1913 from $100,000; V. 97.
p. 622);
outstanding. $150,000.
BONDS.—
Date.
lBtu,^t^?3^0'009,go1^7- 1914
Fidelity Trust
Co.. Newark, trustee.
ft
B
B
Outstanding.
Maturity
$550,000 Dec.'13. 3%
1st
No sinking fund and not subject to call.
mortgage,/
1901
4 g A-O
150,000 Oct.
1 1921
ROAD.—Owns 44
miles of track between Falrhaven and Onset and
in Middleboro and to Buzzard's Bay and to Monument Beach.
27 passen¬
4 snow plows. 5 miscellaneous and 88 electric motors.
Interest.
6J"D
Outstanding.
$150,000
EARNINGS.—For years ending Dec. 31:
Cat.
(8) New Jersey & Hudson River Ry. 5c Ferry Co.
Public Service Corporation has acquired $2,446,350 of the $2,500,000
common and $4,633 of the $750,000 pref. stock.
V. 91. p. 95.
Is leased
to Public Service Ry. for 900 years from May 1 1911 for Interest on bonds
and 6% on both common and pref. stocks.
STOCK AND BONDS—
($1.000)
(
W
Interest.
$150 000 ($1,000) g-_cntf(Int. at Federal Trust Co., Boston. Trustee.
Bonds.—The Middleboro Wareham ft Buzzard's Bay bonds have no
sinking fund, but are subject to call before Oct. 1 1921 at 105 and Int.
See V. 73. p. 1313.
Int. was formerly 5%, but on consolidation with New
Bedford ft Onset was reduced to 4%.
Stock
Maturity.
c*tfflnt.atN.J.TltJeGuar.&Tr.Co..J.C.,Truste.
($1,000)
gold
Date.
$500,000,? 1902
5 g J-J
280,000 Jan. 11922
__c*ntfjlnt. at International Tr. Co.. Boston, Trus.
mortgage,
ger cars.
Ss all owned by Public Service
STOCK AND BONDS—
certain portions
the P. S. Comm. and became effective Feb. 11, 1919.
First
been canceled.
on
of the line.
V. 107, p. 697, 906.
In Dec. 1918 the co. filed with the Mass.
P. S. Comm. notice of an increase In fares from 7 to 8 cents effective Jan.
11 1919. V. 107, p. 2376. This increase was suspended for one month by
ORGANIZATION.—Incorp. March 23 I860.
Stock, $250,000 ($25).
Leased to Camden & Suburban Ry. from Apr. I 1896 for 999 years.
Rental
ftc., received, $60,000 per annum, from which is paid 24% on stock.
Ail
ROAD.—Has
Ry., which was a reorganization of the Middleboro
Ry.
V. 82, p. 1438.
Wareham ft Buzzard's Bay St.
ctflnt.at N. J.Tr.&SafeDep Co..Camden .Trus.
_i
Bay St.
RR.
(which is leased) and West Jersey Traction Co. (stock $60,000).
Stock $3.000,000 ($25)
BEDFORD, MASS.
NEW BEDFORD & ONSET STREET RY.—A trolley road.
ORGANIZATION.—Incorporated In Massachusetts In 1901.
This cora-
!30.000 the second year, $42,000 the third year, $48,000 the fourth year.
(10)
'
6c Suburban Railway Co.
on May 1 1904 to Public Service Corporation for 999 years
(in addition to fixed charges) $30,000 for first year (1905).
ervice Railway Co.
Sear and thereafter. 8ept. 24 1907.2383.
V. 78. p.
•
June 30
On Aug. 10 1918 thei P. U. Comm. auth. the co. to Increase Its rates
between Newark and Trenton from 2 to 2)4 cents per mile, with a minimum
54.000 the fifth year, $72,000 the sixth year, $84,000 the seventh year,
96,000 the eighth year, $108,000 the ninth year and $120,000 the tenth
as
(under agreement dated
consolidation
Camden
Was leased
rental
First
RAILROAD.
SERVICE
ORGANIZATION.—A
1913) of the Elizabeth New Brunswick & Trenton RR. and the Trenton
Terminal RR. Capital stock authorized. $500,000; outstanding, $285,000,
all owned by Public Service Qorp. of New Jersey except directors' shares.
Regular trolley service between Newark and Trenton July 1 1913. ana
service between Newark and Perth Amboy Inaugurated about July 1 1914.
V. 97, p. 522.
The branch line taRqnsevelt Borough was placed in opera¬
tion Dec. 8 1915
Bergen Turnpike Co.
Leased to Public Service Ry. Co. Jan. 1 1908.
ORGANIZATION.—Originally chartered on Oct. 27 1802 with $51,990
(3)
(5)
[Vol. 110.
RAILWAYS
Maturity.
June 11964
Year—
'
Gross.
Net.
Int. A Taxes.
Surplus.
$250,723
$59,341
$27,766
$31,575
223,175
27,993
26,544
1.449
In 1919 carried 1,922,502 revenue passengers against 1,875,718 in 1918.
OFFICERS.—Pres., H. H. Crapo; V.-P. E. S. Wilde; Sec., E. T. Pierce;
Treas., E. F. Nicholson; Supt., Geo. P. Dole.—V. 107, p. 501, 697, 906,
2376; V. 108, p. 379.
1919
1918
UNION
STREET
RAILWAY.—A
trolley
road.
ORGANIZATION.—Incorporated In Massachusetts
on March 18 1887
consolidation of Acushnet St. Ry. and New Bedford ft Falrhaven St.
Ry.
On Nov. 1 1910 consolidated with Dartmouth ft Westport St. Ry.
V. 91. p. 465. 519. 718. 1096.
as a
In June 1918 was auth. by the Mass. P. S. Comm. to Issue $812,500
capital stock at par, the proceeds. It Is reported, to be used to pay outstand¬
ing debt and for improvements, &c., including the construction of a new
power house. V. 106, p. 2758.
Compare V. 106, p. 1797.
Fares.—In Aug. 1919 filed with the P. S. Comm. a schedule
sub-dividing
three long lines for fare purposes and eliminating certain transfer
privileges.
V. 109, p. 677.
See also V. 110, p. 262.
STOCK AND BONDS—
Date.
Interest.
Outstanding. Last div.Ac.
Stock,$2,437,500 (par $100)
Q-F
$2,437,500 Feb'20, 2%
First M $2,000,000
($1,000).? 1914 444 g J-J
260.000 Jan. 1 1934
gold, no sinking fund-.ntfllnt. at Old Colony Trust Co.. Boston. Trust.
Notes payable Dec. 31 1919
356,500
Bonds.— Redeemable since Jan.
mtge. of 1894. due Jan.
I
1914.
I 1919 at 110.
Issued to retire consol.
V. 97. p. 1584, 1604
Dividends.—In 1896-97, 10%: in 1897-98, 6%; in 1899, 8% and
same
rate
to^and^incl.^Feb. 1919. In May, 134%; Aug., 144%; Nov., 144%. In
ROAD, ftc.—Operates 64-17 miles (of which 55.53 mi'es are owned) In
Bedford and adjacent towas, and connects New
Bedford and F»Ii
River.
207 passenger cars; 18 miscellaneous cars and 14 snow plows.
New
A
new
power
house at New Bedford,
Mass., costing about $650,000, is
under coastruction.
EARNINGS.—For years ending Dec. 31:
Cat. Year— Gross
Net.
Int. & Taxes. Divs. (8%).
Surplus
1919— .—$1,440,858
$317,008
$150,444
$195,000 def.$28,436
1918
1,145,113
274,296
130,600
130,000
13,696
OFFICERS.—Pres., H. H. Crapo; V.-P., E. S. Wilde; Sec., E. P. Pierce;
Treas., E. F. Nicholson; Supt., E. S. Wilde, all of New Bedford.—V. 106
1127, 1797. 2758; V. 109, p. 677, 777; V. 110, p. 262.
p.
NEW
NEW
YORK
The New
NEW
York
New
HAVEN,
HAVEN
Haven
&
ft
CONN.
HARTFORD
RY.
(Trolley lines.)
Hartford's interests In
trolley lines have
been very extensive, but under an agreement reached with the U
8. Govt.
In 1914 the company has pledged Itself to dispose of the same
The trolley companies owned by the N. Y. N. II. & H.. which are
now to
be disposed or under the decree of the Federal Court, are as
follows:
Berkshire Street Ry.
The Hooslck Falls RR. Co.
Connecticut Co.
The Vermont Co.
New York ft 8tamford Ry.
Rhode Island Co.
Westchester Street RR.
Shore Line Electric RR. of N. Y
$4,984,938 of the $5,005,250 stock of the
N. 7
Westchester ft Boston Ry.. an electric road, which It Is under no obli¬
gation to dispose of and which will be developed as part of the New
Haven
system.—V. 99. p. 270. 604. 1125. 1210: V. 100. p. 642; V. 104, p. 2010.
The N.Y.N. H.ft H. also
owns
.
CONNECTICUT COMPANY.
Control Passes to Trustees.—On Oct. 27 1914 the $40,000,000
capital stock
co. held by New England Navigation Co.
was transferred to five
trustees, pursuant to the requirements of the U. S. Dept. of Justice. V 99
of this
p. 1451.
The New Raven Co. has bound
trustees were to use their best endeavor to
Itself to sell the stock, and the
complete the sale before July l
1919 Judge Julius M. Mayer granted an extension
of time until July 1 1921 (V. 108. p.
1275).
The trustees are: Judge Walter
C. Noyes of New London, Leonard M. Daggett of New
Haven, Charles
1919,
but
in
March
Cheney of South Manchester, Morgan B. Brainard of Hartford, and Chas.
G. Sanford of Bridgeport.
See remarks under N. Y. N. H. & H. RR. Co
above and V. 98, p. 1000, 1245.
This Is the company which
operates the trolley lines In Connecticut
controlled by the N. Y. N. H. ft H. and which formerly were
comprised in
the
Consolidated
Railway Co.
APR., 1020. j
ELECTRIC RAILWAYS
ORGANIZATION.—lncorp. In Connecticut.
Entire $40,000,000 stock
$1,000,000 debentures owned by New Haven Co.
June
1
1907
began operating the lines comprising the Consolidated Railway (merged
in 1907 in the New York New Haven &
Hartford); February 28 1910
purchased substantially all the various street railway properties of the
and
N
Y. New Haven & Hartford in Connecticut.
.
On March 1 1910 all the gas, water and electric-light
properties formerly
operated by the Connecticut Co., but owned or leased by N. Y. N. H.
& H. RR. Co., were transferred to the Housatonic Power
Co., which com¬
pany increased its stock from $1,000,000 to $3,000,000, to pay for the
acquisitions.
On Jan. 1 1912, however, the gas-distribution lines of the
Housatonic Power Co. and also the lines supplying electricity (not the
power plants)
in Waterbury, New Britain, Greenwich, Norwalk and
Naugatuck wqre taken over under a sub-lease for 994 years dated Oct. 1
1911 by the United Elec. Lt. & Water Co.
V. 94, p. 71; V. 93, p. 1669.
Lease.—The Connecticut Co. owns and had leased to the Shore Line ElecRy., 89.92 miles of track in New London, Willlmantic, DanielsoD and Put¬
nam.
But this lease was annulled by order of the court in Jan. 1920.
Y. 110, p. 167.
The Shore Line Electric Ry. however continued to operate
these lines until April 1920 when the Connecticut Co. took over the
operation
of the lines.
See "Chronicle" of April 24 1920.
Fare Decision.—In Aug. 1917 Judge Gager in the Superior Court of New
Haven County dissolved an injunction restraining the
company from dis¬
continuing the sale of tickets at six for 25c. or 25 for $1 in Waterbury, Conn.,
In Sept. 1917 the co. announced an increase in
trolley fares from 5 to 6
cents, or 17 tickets for $1, effective Oct. 1 1917, on all lines operated bv the
company in Conn.
V. 105, p. 1208; V. 107, p. 2376.
In April 1918 the
P. U. Comm. sustained the
company's action, denying the petition of the
city of Hartford for a reduction.
V. 106, p. 1461.
The city appealed, but
he decision of the P. TJ. Comm. was
upheld by the courts.
On Nov. 2
1919 was authorized to put into effect a new zone system.
See V. 109. p.
2262; V. 110, p. 464.
Compare V. 110, p. 1642.
.
Increase.—In Oct.
Rate
1918 was auth.
79
ROAD.—Connecticut Company operates 723.511 miles of line (of
416.390 miles are owned, 296.854 miles leased and 10.267 miles
operated under trackage rights), serving the following cities and towns;
Cities of New Haven, Hartford, Bridgeport, Waterbury, New
Britain,
Meriden, Middletown. Stamford, South Norwalk, Rockville,
Derby.
8helton, Ansonia, and the towns of East Haven, Branford, North Haven,
Wallingford,
Hamden,
Orange,
Southington,
Plainville,
Farmington,
Portland, Middlefield. Cromwell, Rocky Hill, Wethersfield, West Hart¬
ford,
Bloomfleld,
Windsor,
Stafford, East Hartford, East
Windsor,
South
Windsor,
Manchester,
Vernon,
Glastonbury,
Greenwich,
Stratford, Miiford, Huntington, Fairfeld, Westport, Norwalk, Darien.
Naugatuck, Watertown, Middlebury, Thomaston, Torrington, Winchester.
Beacon Falls, Seymour, Cheshire, Newington and Berlin, Connecticut.
Standard gauge.
Cars operated Dec. 31 1919, 1,493 passenger and 336
reight. dec., cars; total, 1,829.
which
|
OFFICERS.—Pres., Lucius S. Storrs; V.-P. & Gen. Mgr., J. K. Punderford: Sec.. Victor S. Curtis; Treas., E. T. Chapman; Compt., I. A.
May. all
of New Haven.—V. 109, p. 1527, 2262; V. 110, p. 167,
464.1642.
(1) Connecticut Railway & Lighting Co.
Lease.—Leased for 999 years from Aug. 1 1906 to the Consolidated Ry.
Co., which latter has since been merged in the N. Y. N. H. & H. RR. Co.
Rental amounted to $975,000 for the year 1906-07 and Increases
gradually
until it reaches $1,452,500 in 1920.
The common shareholders paid the
Colonial Trust Co., trustee, $10 per share on their stock,
which, with
the surplus rental received under the lease,
provides a fund which, it is
announced, is sufficient to
pay
4%
per
annum
on
both
and
com.
pref.
All the stock assented to this
arrangement.
Preferred share¬
holders agreed to accept 4% dividends during the1 term of the
lease, instead
of 5%.
V. 84, p. 507.
On Aug. 15 1917 rate was increased to 4M% per
annum on both pref.
and com. stocks.
Pref. stock was issued in satisaction of unpaid accumulations of dividends on
pref. shares to Aug. 1 1906.
shares.
ORGANIZATION.—Originally chartered in Connecticut July 2 1895
as
by the Mass. P. S. Comm. to
the Gas Supply Co.
Charter amended and name changed March 2 1899 ts
Connecticut Lighting & Power Co., for the
purpose of uniting various streeo
Government Loan.—In Sept. 1918 obtained a loan through the United
States Housing Corp. of
approximately $1,350,000 to provide funds for
constructing tracks to provide transportation of munition workers in Bridge
port. V. 107, p. 1099.
>'
railway and light and power properties In Connecticut.
Name changed at
at present on Jan. 10 1901.
V. 71. p. 1269; V. 72, p. 44.
It Is a consolida¬
tion of the following companies:
Norwalk & So. Norwalk El. Lt. Co.
Bridgeport Traction Co.
Central Ry. & El. Co. of New Brit.
Norwalk Street Railway Co.
Cheshire Street Railway Co.
Norwalk Tramway Co.
1
..
Derby Street Railway Co.
Shelton Street Railway Co.
Greenwich Gas & Electric Ltg. Co. Southlngt'n & Plantsv.
Tramway Co.
Miiford Street Railway Co.
Thomaston&WatertownElec.Ry.Oo.
Naugatuck Electric Light Co.
Waterbury Traction Co.
Naugatuck Valley Electric Ry. Co. Westport & Saugatuck Street Ry. Co.
Norwalk Gas Light Co.
Increase freight rates.
V. 107, p. 1384.
Supreme Court Decision.—Decision of State Supreme Court holding that
co. must protect holders of the Consolidated Railway Go.'s debentures
the
will be found in
V.
109,
See also V. 109, p. 1527.
581.
p.
The following companies have been absorbed or are leased or controlled
Branford Lighting & Water Co.
81. p. 155,' 210.
Middletown Street Ryi V. 79, p.268.
•Montville Street Ry. V. 79, p. 268.
V.
Connecticut Railway & Lighting Co.
V. 83. p. 1524.
Danielson
&
Norwich
Street
Ry.
V. 79. p. 268.
New
Hartford & Glastonbury St. Ry.
Fair Hav. & Westv.RR. V.78,p.989.
Street
Ry.
V.
69,
Street
p.
989.
p.
Haven Horse RR.
Stafford Springs Street Ry.
leased in 1912 to Shore Line Electric Ry., which see
This lease was annulled by order of the Court in Jan.
were
1920, and properties
April 1920.
were
taken
for operation by the Connecticut Co.
over
in
*
i
Y. N. H. <fc H. RR. offered to exchange $100 of its stock for*$200
of certain issues of the Consol. Ry. Co.'s debentures.
See V. 82. p. 803,
The N.
V. 83. p.
and
$17,585,000 of debentures have been so exchanged for
The following
shows the
1037.
$8,792,500 N.
Y. N. H. &
H. RR. stock.
details for each issue of debentures;
Debentures
of
The
Consolidated
Issue—
Railway Company—All tax free.
Ex. for Stk. or
Issued.
Authorised.
July 1 '04. 50-yr., 4g J-J $5,000,000
4.000,000
Apr. 1 *05, 50-yr.. 4g A-O 3,500.000
Jan. 1 '06. 50-yr.. 4g J-J 10.000.000
Mar.l *07.10-yr.. 5% con. 15.000.000
Total
Feb.
h
now
exchangeable-.$37,500.000
1
1905.
Pur. A Cancel.
$5,000,000
4,000,000
•3,500,000
•10,000,000
5,000,000
Jan. 2 '05, 50-yr., 4g J-J
$27,590,000
25-year,
4 g F-A (see text)
Total Of all
Still Out.
$745,000 a$4.255,000
1,691,000
a2.309.000
2,160 000
7,989 000
a
1,340,000
02.011.000
5,000 000
$17,^85.000 $9,915,000
28 000
1,000,000
1,000.000
Outstanding.
Maturity
$8,977,200
See
text.
8,142,900
See
text.
Q-F 15
1901
12.551.000 Jan
1
1951
AH ft 3-3
($1,000) sinking fund.c*tf Int. at Equitable Trust Co., N. Y.t Trustee.
1893
Traction
mort¬
5g J-J
706,000 July 1 1923
Trustee, Fidelity Trust Co., Newark, N. J.
Bridgeport
gage $2,000,000 gold ($1,-
Interest at Redmond & Co., New York.
Connecticut Light & Pow.ntf 1899
5 J-J
209.000 Jan
1
1939
Bonds—Of the 1st and refunding mortgage bonds, $915,000 reserved to
the prior bonds.
The remainder was reserved for extensions or
betterments, but under lease to the New Haven road cannot be issued for
without consent of lessee.
V. 84, p. 507.
Statement to New
York Stock Exchange In V. 73, p. 852; also V. 79. p. 2745; also V. 85.
p. 921.
Bonds were formerly not subject to call, but on June 23 1904 a
supple¬
mental mortgage was made giving the right to call bonds on
any interest
date at 105 and interest and establishing a sinking fund of
H of 1% per an¬
num on bonds outstanding; bonds acquired by the sinking fund are to be
kept alive and bear
Interest.
$1,378,000
bonds
in
sinking
fund.
Bondholders assenting to the supplemental mortgage had their Interest
guaranteed by the United Gas Improvement Co. by endorsement.
See
V. 79, p. 626, for form of guaranty.
Offer expired Oct. 1 1904 and was
accepted by $10,682,000 of outstanding bonds.
See V. 83, p. 969.
retire
any purpose
ROAD.—Owns 170.982 mile9 main, 80.427 miles second and 9.093 miles
side tracks; total, 260.502 miles, reaching Miiford, Bridgeport, Stratford,
Southport, Shelton, Derby, Ansonia, Seymour, Westport, Saugatuck,
Norwalk, South Norwalk, New Britain, Darien and Stamford; also Hues in
Naugatuck, Waterbury, &c.
System connects with the Fair Haven &
Westville RR. into New Haven from Bridgeport and Derby, and company
also has traffic contract with the Hartford Street Ry. for reaching Hart¬
ford.
Gauge, 4 feet 8H inches.
35 to 95-lb. rails.
EQUIPMENT.—Total
cars, 474; closed passenger, 199; open passenger,
Car barns, 20; also 4 complete electric-light plants;
gas plant at Norwalk and operates gas plant at Waterbury.
201; miscellaneous, 74.
$38,500,000 $28,500,000 $17,613,000 $10,887,000
debentures of $10,000 each, which are non-interchangeable.
Interest,
Date.
Interest.
but inc. to 4J^% in 1917
&
ref $15,000,000 gold
972,000
♦Guaranteed, principal and Interest, by N. Y. N. H. <5c H. RR. a These
amounts cannot be increased, as remainder of issues has been canceled.
b Not exchangeable for stock.
The debentures are in coupon form of $1,000 each and fully registered
BONDS—
Date.
($100) (reduced to 4% un¬
der lease to New Haven Co
.
V. 79, p. 268.
V. 79, p. 268.
Meriden Southington & Compounce
Tramway Co.
V. 83. p. 1524.
under Norwich.
STOCK AND BONDS—
Common stock ($100)
Pref 5% cum after Jan 1 1904'
1st
Wallingford Tramway Co.
Waterbury & Pomperaug Val. St.Ry.
West Shore Ry. Co. V. 78, p. 989.
♦WilllmanticTrac. Co. V.81,p.ll70.
Winchester Ave. RR. V. 78, p. 989.
Ry.
These roads
V. 79.
Stamford street Ry.
Torring. & Win. St. Ry. V.85.P.1463.
Meriden Electric Ry.
Meriden Horse RR.
*
Ry.
•New London St. Ry. V. 79, p. 268.
•Norwich Street Ry. V. 79. p. 268.
•Putnam & Thompson Street Ry.
283; V. 89, p. 593, 1542.
Greenwich Tram. Co. V. 80, p. 118.
Hart.Man.&Rockv.T.Co. V.82,p.280.
Hartford & Middletown Street Ry.j
Hartford
St.
New Hav. & W.
E.
Farraington
Haven
New Haven & Centreville Street Ry.
V. 78, p. 989.
Outstanding.
Maturity.
Equipment notes Series "A"__ 1915
5 A-O
$82,000
See text.
Equipment notes Series "B"f 1916 4H I? M-S 15
184,000
See text.
gold $460,000 ($1.000)
c\Int. at Security Tr. Co., Hartford, trustee.
N H & Centerv 1st M, g.\ 1893
5 g M-S
,283,000 Sept. 1 1933
aasum'd byN Y NH&H.ntf /
also
owns
REPORT.—For calendar years
Year—
Rentals A
Int. on
Ending—
General
$610,545
610.545
Sink.
Exps.
$3,211
4,745
Bonds.
Int. Rec'd.
Dec. 31 1919.$1,437,680
Dec. 31 1918. 1,430,115
$62,755
Divi-
Funds.
Balance,
Deficit.
$9,235
dends.
$770,404
770/104
62,755
18,355
OFFICERS.—Pres., R. A. O. Smith; V.-P., Walton Clark: Sec., G. W.
Curran;
V.-P. & Treas.. Lewis Llllie.
Office. New
Haven.
Oonn —
V. 84, p. 1366; V. 85, p. 921; V. 86, p. 228; V. 106, p. 601; V. 107.
p. 401.
(2)
Wcsst Shore
ORGANIZATION.—Organized Dec. 15 jL893.
to Winchester Ave.
Leased
on
Dec. 14 1895
RR. for 99 yrs. for Int. on bonds and 5% dlv. on stock.
Lease assumed Feb. 28 1910 by the Connecticut Company, wh'ch operates
New Haven Street RR.—
Ry,
nowf 1900
4 g M-8
2,500,000 Sept. 1 1930
$2,500,0001 Conn. Tr. & Safe Dep.
Co., Hartford.
c^ntfl
Trustee. Int. at New York or Boston.
Hartford St Ry deben "M"ntf 1900
4 J-J 15
165,000 Jan 1 1930
Worc& Conn East IstMsfgf 1902
g J-J
1,992.000 Jan 1 1943
$3,100,000 ($ 1,000)_-.c*tf /Interest at New York Trust Co., Trustee.
the
Hart
THE RHODE ISLAND CO.
Receivership.—On Jan. 30 1919 Judge Tanner in the Superior Court at
Providence, R. I., appointed Frank H. Swan, of Providence, temporary
receiver for the company onpetition of John J. Orr, a contractor.
V. 108.
481.
On March 5 1919 Frank H. Swan, Theodore F. Green and Zenas
Hartford
Street
property.
-
1st mortgage.
Wage Award by War Labor Board.—V. 107, p. 503.
($1,000)
STOCK AND BONDS—
Man
$300,000
g
&
Rock first mtge
($1,000)
gold.ntf
Meriden Horse Railroad
5 A-O
1894
200,000 Oct
1
1924
1894
5 g J-J
415,000 Jan 1 1924
solidated
mortgage
gold Interest at Glrard Trust Co. of Philadelphia.
State Treasurer of Connecticut, Trustee.
$500,060
tf
Mer South & Comp 1st M g
1898
5 g J-J
175.000 July 1 1928
$200,000 ($1,000) c» ntf
Optional at 110 and interest.
callable at 110 since 1903._ Interest at Trust Co. of America, New York.
Greenwich
1901
5 g J-J
Tramway
first
320.000 July 1 1931
mtge
$400,000
($1,000) Interest at New York Trust Co., New York.
State Treasurer of Connecticut, Trustee.
gold
c*. ntf
con¬
Stafford Spgs St Ry 1st M g
Provisional debentures
5 J-J
tf
1916
5%
400,000
July 1 1956
1,000,000
To 1922
Bonds.—The Consolidated Ry. debentures are not subject to call.
A1
the debentures have printed on their face the statement that if a mortgage
ifl made on any or all of the company's property
which
was
owned
on
Jan. 1
1905, except to renew existing mortgages, the debentures shall participate
in the security of such mortgage.
The debentures due in 1930 bore 3%
Interest from Feb. 1 1905 for first 5 years and 3H % for next 5 years. From
Feb. 1
1915 to maturity bear 4%.
for acquiring
acquired
by the New Engl. Inv. & Security Co., then in turn re-acquired by theN. Y.
They
were
issued to
pay
the Berkshire St. Ry. (V. 80, p. 471), which co. was subsequently
N. H. & H.
The $3,500,000 debentures due April 1 1955 were issued to ac¬
quire the Hartford Street Ry.
The $10,000,000 debentures of Jan. 1906
were issued to the N. Y. N. H. & Hartford for advances.
The Series "A" equipment notes mature $41,000 s-a April and Oct.
The Series "B" equipment notes are secured by equipment, costing more
than $580,000, the company paying more than $120,000 in cash.
They
mature $46,000 s.-a. Mar. and Sept. 15 from 1917 to 1921.
Tax-free in
Connecticut when held by individuals.
V. 103, p. 1117.
,
Of the Worcester & Connecticut Eastern bonds, no more will be issued.
fund on these bonds commenced in 1908 of not to exceed 1% of
bonds outstanding.
Bonds cannot be called, but may be bought on a 3%
basis or better, and kept alive for sink. fd. See V. 75, p. 1204.
$244,000
in sink, fd., incl. In amount reported outstanding.
A sinking
EARNINGS.—Of Connecticut Co. for
Dec. 31
Year.
1919
1918
Operating
Net {after
Revenue.
Taxes).
$11,043,804
9,935,750
$1,213,770
1,209,429
•
year ending Dec. 31;
Other
Interest,
Income.
Rentals, Ac.
$232,830
$1,338,566
242,111
1,250,565
Balance.
Surplus.
$108,035
200,975
Date*
Interest.
Stock, $200,000 ($25)—
ROAD.—Owns 7.42 miles of track.
-
,
Bliss
were
appointed permanent receivers.'
For statement snowing
ship petition,
see
Outstanding.
Maturity.
$80,000 See text
Standard gauge.—V. 107, p. 503.
V. 108,' p. 974.
Company's condition
as set forth in the receiver¬
See also V. 110, p. 78.
V. 108, p. 684.
Reorganization Plans—Successor Co. Incorp., Ac.—In March 1920 three
separate plans of reorganization were drawn up and submitted for approval.
Lack of space prevents us from giving these plans in detail, but an extended
outline
each will be found
or
as
follows: (1)
Plan of the Rhode Island Co.
receivers in V. 110, p. 971.
(2) Plan of the protective committees for the
bonds of the United Traction & Elec. Co. and the bonds of the Suburban
Ry. in V. 110,
p.
118^.
[This plan was agreed upon In April 1920 by
sentatives of the bondholders with but
one
revision, for which
p. 1,527.]
(3) Plan of the United Traction & Electric
Island Suburban Ry. receivers in V. 110, p. 1290.
Leases
Terminated.—On
May
14
.see
repre¬
V. 110,
Co. and the Rhode
1919 Judge Tanner entered
a
formal
decree in the Superior Court at Providence by the terms of which the re¬
paid $50,000 on account of the rental due from tho
Rhode
Island Co. (upward of $330,000 was owed for rentals), and the lease,
dated June 24 1902 from the Union RR., the Pawtucket Street Ry. and the
Rhode Island Suburban Ry., respectively, to the Rhode Island Co., were
declared to have terminated on April 21 1919 for the default of the Rhode
Island Co.
V. 108, p. 2123.
Pending settlement of various details by
the Master in Chancery the receivers of the co. are operating the lines,
paying the lessors at the rate of 3 cents per car mile per month.
V. 108,
p. 2330.
See also V. 110, p. 1089.
ceivers
,
Control Passes to
Trustees.—On Nov. 7 1914 the securities of The Rhode
Danielson Ry. and the Seaview BR. (see
Island Co.. the Providence and
V. 99. p. 1452), formerly held by the N. Y.N. H. & H. RR. Co. and carry¬
ing complete control or the system, were transferred to five trustees m
required by the U. S. Department of Justice.—V. 99. p. 1452.
These
trustees were to exercise their best effort to sell the securities of these com¬
panies by July 1 1919, but in March 1919 Judge Julius M. Mayer granted
an extension of time until July 1 1921.
V. 108, p. 1275.
The trustees are:
Rathbone
Gardner,
Theodore
Francis Greene,
John
of Providence. See N. Y. N. II. & H.
V. 98, p. 1000, 1245.
Wm. A. Viall, all
above and
O.
RR.
Ames
and
statement
•
[Vol. 110.
ELECTRIC RAILWAYS
w
OXFORD
POPU LATION
STATE
OF
NEW
JERSEY
(1915 CENSUS,, 2,844,342
MUNICIPALITIES
HARMONY
Railway
146
\
190
220
•
2,196,081
Total
r
\
_
2,033, C27
Electric
*
WASHINGTON
*
2,130,599
163
\
\
(1915 CENSUS)
Gas
MANSFIELD
.
s
POPULATION
NUMBER
nj4
a\^'R
W
SERVED
/
2,234,993
TWP.
\
M
WASHINGTl
B A
4
/
«
}
V
[
N O
N
»
\
I
I
M
Higtrpridge/
TEWKSB'URY
%
#'H
<•/
i
N S ,1
'"iREADINGTON Z7
Ui N T
\ FRANKLIN,"
'•
"
O
/
'
>
^
'
A
c^T'f
S& ! I
>
~^tv|
./ r^^/Rant
HILLSBOROU
TWP.
Ml
>
"•'
i
Ho^ni MONTGOMERY
a?
I
\
I
PRINCETON
(
TWP
j
#
^rincetcJn ./
-V._
vs
TWP,
(
V
ZZ/
I
'^,'SOUTH
*?
j
|\//^\ J/'-'
rw„„„
JWP
X^I^mberton
XDEPTFORD1
MEDFORD
Mantua"r*7 TWP.
VfiinnrFqr\
'
■
V VO'ORHEES i
I" Aa\ TWP. 1/
; r l:\EM6NTOfj
/
Y,Ltcd
,z> TER
?'»
'
GLOUCESTER
lj
k
T
M
/
\:
Twp.
B /U
\
kl
SOUTHAMPTON
"A
PEMBERTON
tIa/d
■
I
^
N
■■
^6
T
\
~
1
.
\
>
'
™"
\
/
/
yA-"fc AtM:I),E NY
^
A
1A\ /
\
/
/
/
"wnx*shc«
0
Nj
i
*
0
ELECTRIC RAILWAYS
APR., 1920.]
Stanhope
i
U
MOUNT
N^tcong 0
i
""\\!
»
peouannoclt
s
\
OLIVE
/
_
Butler
f
'
*
S/' J£
TWP-
</BOONTON
i
franklin twp,
jMONTVILLE't
!
RANDOLPH /
]
TWP,
Paterson
CHESTER
MENDHAM
TWP.
I
CALDWELL
r*
ENDHAM'
Little
•
X'lf
\
TWP.
/
Morri8t^ownNv^
\*
Cedar?r0Ve
///
/Mad it
^BERNARD S>
S
TWP.
/
.
..'T
I
I
TVA/D
TWP.
J
/
„
\
^4
\
Ntw
J-
\
/PROVIDENCE/
E
S
E
IE WATER
vA^l/
\>
w vrfi
>m
-T(WP.
Bdg.ota
/
Ij
J jCranforfTl
y
^tirforil/t'yrlstadt
Bloomfhjjii
BOROUGH
>
3*
•B.Newark
"THE BRONX
'™
x!^
iHobokoj
rr
% m
\1^ I Jy
J
p* Plainfielrf
imerville
■
Sprii^eld
\
ntwp\
TWP.
\
TEANECK
y
Twp
>sS»_v\lvenil/«,
jNflELD
WARREN
\ . Mi lb urn
onTUm1tl
Sunijnit*^
\
l,W
s°ut4R^Ey^s
s«
^
vNEW
:
/West Orange.
i\
r} \
/
r
Ilackeusack
V#Ic
Nutley,
\~\\ ^
/
V
yiuiRuvs
ChathamVv
.
\\./"
I
/
\
\
.Closter
VI
/Montclair-. V\ \
VvaAfWV
>\
!GST0N
LIVINGSTON
A
v
/-CaldwellX
/
*
/SbgteX/ ///&$&
Fall^v-ri^^y
IlizabeVli,
Bound
JgrookiL^
Soluth
» yO»lt^-A7> IT--Y-QRK-
PI SCATAWAY
"Bound IBrook
UNOEN
TWP.
WOODBRIDGE
|F R A N
K L I
TWP.
dlighlandPark
BOROUGH OF
y
STAT-ENISLAND
y
| New BrjinS wick
'
RICHMOND
%
north
*—c
brunswick,.
;
,,
"Soluth
twp.
:nrboy4
'•
b
Iiivcr/*J>
South
-R'A'J! IT'A S~b'A "1'
SAV^EVILLE TWP,
:Etf'—YJ>l{:K-BArY
iWICK
w-r'~
y
"-T
wv«/
.
Matfawan
MADISON
<-~J
/MATAW'AIT;
'
TWP.
/" Jamesburg
/
x.
/
V
4f*
HOLMDEL
'
*
3
\
/M l D
/
MANALAPAN
,jljghkui(l!
■\ ■vt.S;VT===
/
]
TWP.
5vTfantie==-
i
MARLBORO
/
/
o)l
E T
^
TWP.-
IKedijatik
.L STONE
TVA/P
Twp-
/"
\
\
y
A\
Z
My 0
,
Vl
T
/ATLANTI C, Qr
T
^Freehold
v.
,
/
T
U//
.
I
U
I
TWP
o
I
H/
■
<,
^
/
FREEHOLD
•
A--'1
/ E.WIV)
/eaton'1 uvvit
Z..
^
"7.
/
/
'
/
r>*-'wQr
^
^
>
"t.-.
/
/J
*
twp.
<
-*vi
/ocean twp. /
Earmingdaf^
.
yj
HOWELL
,z
\NEPTUNE
'jwp,
TWP.
/
✓
•)
.
/
BnTdiev-^RePchBelmar
MAT? OF
Electric
Railway Lines
^anasquan fc
-i
'
Controlled by
LAKEWOOD
\
PUBLIC SERVICE
CORPORATION
OF NEW JERSEY
I
0
SCALE OF MILES
5
connecting lines-...
1
ELECTRIC
82
ORGANIZATION.—Created in 1902 by Special Act of the Rhode Island
Leased the Union R. It. Co., the Pawtucket Street Railway
Legislature.
and the Rhode Island Suburban Railway Co, but in May 1919 these
leases were terminated.
See above.
The Rhode Island Co. has no bonds.
Co.
In June 1907
umbian
purchased the Providence & Burrillville Street Ry., the Col¬
Ry. and the Woonsocket Street Ry. companies.
V. 84,
Street
1308.
p.
In June 1911 leased the Providence & Danielson Ry., the Seaview RR.
Railway & Industrial Sup¬
plement of May 1920) was also leased at that time, but effective March
1 1920, this road was turned back to its owners for operation.
For com¬
promise agreement on abrogation of lease see V. 110, p. 1089.
Franchise.—On May 27 1912 entered into an agreement with city of
Providence granting the company a 20-year franchise from July 1 1912
under regulations as to operations, equipment, &c., principally mentioned
in V. 95, p. 619.
(b) Rhode Island Suburban Railway.—A trolley road.
Receivership.—On Jan. 10 1920 Judge Turner in the Rhode Island Su¬
perior Court appointed Benjamin A. Jackson and Harold J. Gross tempor¬
ary receivers (made permanent on Feb. 2 1920.—V. 110. p. 971) for the co.
upon a bill of complaint filed by the Union Trust Co., Providence, trustee
for the 1st mtge. 4% bonds on which the July 1 1919 and Jan .1 1920 int.
has been defaulted.
V. 110, p. 262, 971.
Reorganization Plans, Ac.—See Rhode Island Co. above.
The Narragansett Pier R. It. (see statement in
Fares.—In
April
1917 the company accepted the provisions of an
Acfc
{>assed by the of the co.'s affairsand signedaffording of financial relief, an
nvesication General Assembly and the by the Governor calling for if
found just.
The special committee
submitted its report in March 1918
appointed to make the investigation
(V. 106, p. 1127; see also V. 105, p.
2090), recommending, among other things, a modified zone system, with
certain tax. franchise arid other reforms.
A special legislative committee
appointed to examiner the commission's report,
was
which it failed
to ap¬
recommending instead a 6-cent fare.
The Rhode Island P. U.
Comm., however, declared that a flat 6-cent fare was unjust and inequitable
and ordered the establishment of a modified zone system which will increase
prove,
long runs, the extension of transfer privileges, rerouting of
V. 106, p. 1127.
The R. I. Legislature
also favored the zone system and in April 1918 authorized the co. to put
It into effect May 5 1918.
In Aug. 1918 was auth. by the I.-S. C. Comm.
to adopt zone fares between Providence and Massachusetts points.
V.
107, p. 803, 906.
In Oct. 1918 filed with the P. U. Comm. a supplementary petition for
auth. to charge 1 cent for each transfer issued, in order to offset the cost of
Increased wages granted the company's employees by the War Labor Board.
V. 107, p. 1482.
Effective Oct. 23 1918, was auth. by the Comm. to charge
5 cents fn all zones where 2 cents had formerly been collected, to reduce the
charges
on
several lines in Providence, &c.
sizes of the zones in nine instances, to charge
1
issued.
V. 107,p. 1670.
Seealso V. 109, p. 578.
cent for all transfers
Effective Sept. 28 1919
Comm. to charge the following rates: (a) Fares for
two miles, distance heretofore covered for 5 cents, 6 cents; (b) transfers,
2 cents instead of one; (c) These rates are to remain in force during the life
of the receivership of the co. or until otherwise ordered by the Utilities
Board.
V. 109, p. 1274, 1987.
was
auth. by the P. U.
Belay in Payment of Rentals of Leased Lines.—See United Trac. & Elec. Co.
below.
V.
Wage Award by National War Labor Hoard.—V.
109, p. 1274.
Strike.—See V. 109, p. 371, 477, 578.
107,
p.
2377.
See also
Date.
Interest.
Outstanding.
Maturity
59,685,500
1913,6%
Call-/ 1916
5 g M-S
1,662,000 Mar. 1 1921
.[Int. at Industrial Trust Co..
Prov., trustee
and bills payable Dec. 31 1919
*3.746.037
STOCK AND BONUS—
,
Loans
terms
.
ROAD.—The Rhode Island Company operates 354 miles of line, of which
39.90 m. are owned and 314.10 m. are leased.
Serves the cities of Provi¬
dence, Pawtucket. Central Falls. Woonsocket and Cranston
In
Rhode
Island and Danielson, Conn., and the towns of Warwick, North Provi¬
dence. East Providence, Johnston, Srpithfield, North Smithfleld, Burrill¬
ville, Cumberland,
Lincoln, Harrington, Coventry, Scituate, Warren,
Bristol, East Greenwich, Foster, North Kingston, South Kingston and
Narragansett.
The tunnel from North Main St. to Thayer St. was opened
In Aug. 1914.
V. 99, p. 539.
Its equipment consists of 1.045 passenger
103 freight cars and 173 miscellaneous cars: total, 1,321,
1919.:—--$6,970,675
6.311.285
1918
$420,527
591,484
Interest.
Balance,
Rentals, &c.
Deficit.
$37,853
$1,491,760
$1,033,380
111,334
1.480.342
777,523
Mgr., A. E. Potter.—V. 108, p. 580,684,974,1276, 1611, 1938, 2123, 2330,
2434, 2630; V. 109, p. 371. 477,
578, 1274, 1987; V. 110, p. 78, 262,
563, 659, 765, 872, 971, 1089, 1188, 1527.
United
Traction
&
Electric.
Receivership.—On June 10 1919 Justice Tanner of the Supreme Court
appointed Cornelius S. Sweetland temporary receiver for the co. on petition
of the Central Union Trust Co., N. Y., trustee of the 1st mtge. bonds.
V. 108, p. 2434.
On June 23 1919 the receivership was made permanent.
V. 108. p. 2630.
Reorganization Plans, &c.—See Rhode Island Co. above.
ORGANIZATION.—United
New Jersey, owns
Traction & Electric Company, chartered In
the Union Railroad Co. of Providence, the Pawtucket
Street Ry. Co. and the Rhode Island Suburban Ry. Co., and thus controls
the entire street railway system of the cities of Providence, Pawtucket and
Central Falls, and the counties of Kent, Bristol and Providence.
The Union Railroad Co. and the Pawtucket Street Railway Co.
were
leased for
999 years from June 24 1902 and the Rhode Island Suburban
Railway Co for 999 years from June 30 1904 to The Rhode Island Co.,
but in May 1919 these leases were terminated.
See Rhode Island Co.
above.
For statement as to the relation of this company to the Rhode Island
since the five (now four) trustees have acquired control of the former com¬
p. 1599.
from the Rhode Island
paid when due.
[These, however, evidently have since been
paid—Ed.]
The $149,462 due on Dec. 24 1918 was not met promptly by
the Rhode Island Co., but $100,000 was paid on Jan. 23 1919, and this co.
granted the lessee an indefinite period of grace in which to make pay¬
ment of the remaining $49,462 due.
The Mar. 1 1919 rentals were not
pany, see
V. 99,
Rentals.—The rentals due the co. on Sept. 24 1918
were not
treet Ry., Pawtucket
Eaid when due. V. 108,Street Ry.The rentals are on account of Ry., Union
p. 975.
and Rhode Island Suburban the all of
which
are owned by the co. and were leased to the Rhode Island Co., but
See Rhode Island Co. above.
Default.—In Mar. 1919 it being announced that the co. would be unable
to pay the Mar. 1 1919 interest on the 1st M. 5s because of the default of
the Rhode Island Co., rentals due Mar. 1 1919 ($50,000 has since been paid
on account), the following committee was formed
(V. 108, p. 975):
Committee for ls( M. 5s.—Chairman, Philip L. Spalding; Stephen O.
Metcalf, Henry D. Sharpe, Malcolm Chace, Eben N. Littlefield, Geo. C.
Lee; Sec., Wm, P. Goodwin.
Depositaries, Rhode Island Hospital Trust
Co., Providence; First National Bank, Boston. V. 108,p. 975,1061, 1166,
in May 1919 these leases were terminated.
1611, 2023.
Committee for United Trac. A Elec. Co. Stock.—H. Martin Brown, Herbert
J. Wells, Frederick S. Peck, Philip Stockton, Webster Knight, Andrew E.
Jencks, Cornelius S. Sweetland, Sec., Providence, R.
Industrial Trust Co., Providence, R. I.
Y. 108, p. 2124.
STOCK AND BONDS—
Date.
Interest.
Outst'd'g.
I.
Depositary;
right to transport passengers, freight, express matter and United State*
In any territory where It Is authorized to do business.
Leased to
Rhode Island Co. June 30 1904, but lease was terminated in May 1919.
See Rhode Island Co. above.
$26,000 of the $69,000 1st M. 6% bonds of
mail
the Cumberland St. Ry. due Oct. 1 1918 have been exchanged for 1st M. 4%
bonds of the Rhode Island Suburban Ry. due Jan. 1 1950.
V. 108, p. 270.
Commiitee for ls( M. 4s.—Chairman, Michael F. Dooley; Edward B.
Aldrich, Benj. A. Jackson, Geo. L. Shepley, Frederick S. Peck, Geo. C.
Clark, Jr.; Sec., C. H. W. Manderville, Providence, R. I., and Francis E.
Bates.
Depositaries: National Exchange Bank, Providence. R. I. and
Bankers Trust Co., N. Y. City.
V. 108, p. 1061. This committee has con¬
sented to serve in a like capacity for the bondholders of the Pawtuxet
Valley Elec. St. Ry. and the Cumberland St. Ry., subsidiaries of the co.
V. 108, p. 1611. 2124.
STOCK AND BONDS—
Stock, $5.000,000
First mortgage ($1,000),
prin
gold
Div..Mat..&c»
5 Q-J
$8,000,000
See text.
United Trac & Elec Co, Prov)
1893
5 g M-S
9,000.000 Mar 11933
&
Paw
Issue,
1st
(coll) [Interest at Central Trust Co., N. Y., Trustee
mtge ($1,000), gold—ntf)
Dividends.—Company started paying dividends
with 1% In 1897.
In
18983% was paid; In 1899,3**%;in 1900,4%;in 1901.4%;in 1902.4**%:
1903 and since, 5% per annum.
SECURITIES PLEDGED.—The bonds are secured by the pledge of the
following securities deposited with the Central Trust Co. of N. Y., as trustee
of the bondholders: All of the $9,000,000 capital stock of the Union RR.
of Providence,, all of the $500,000 capital stock of the Pawtucket Street Ry.
(no bonds) and all of the $3,000,000 first mortgage bonds of the Union RR;
of Providence.
Also, through the ownership or the Union RR. Co.. $299,800 of the $300,000 capital stock, being all but 2 shares, of the Providence
Cable Tramway Co. (no bonds). The Providence Cable Tramway Co
is
on
its capital stock.
TREASURY SECURITIES.—The United Traction & Electric Co. hat
In Its treasury the entire capital stock ($5,000,000) of the Rhode Tslanrt
Suburban Ry. Co.—V. 108, p. 1938, 2023, 2124, 2331, 2434, 2630; V. 109.
p.
and
int,
the bonds,
Bonds.—There
up
Outstanding.
$5,000,000
Maturity.
11950
$5,000,000.)Union Trust Co., Providence, Trustee.
The United Traction
guarantees
Interest.
Date.
are
guarf
&
4 g J-J
1900
4,708,000 Jan.
c* I Interest at office of the Ry. Co., Providence.
Electric Co. owns the entire capital stock and
principal and interest.
reserved in the hands of the trustee $292,000 to take
and retire $247,200 5% gold first mortgage bonds of the
Electric Street Ry. Co.
former are guaranteed,
Electric
Pawtuxet Valley
and $43,000 Cumberland St. Ry. 1st M. 6s; the
principal and interest, by the United Traction &
Co.
SECURITIES PLEDGED.—The bonds are secured by a mortgage on all
the company, and by pledge
Cumberland Street Ry. Co.,
Street Ry. Co. and 5.000
shares of the Barrlngton Warren & Bristol Street Ry. Co.
ROAD.—Consists of 65.24 miles of line.
V. 110, p. 262, 971,1189,1291.
the property owned or hereafter acquired by
of the following securities: 700 shares of the
3,985 shares of the Pawtuxet Valley Electric
(c) Providence & Danielson Railway Co.—A trolley road.
Reorganization Plans, Ac.—See Rhode Island Co. above.
On Dec. 31 1919 New England Nav. Co. owned $913,200 stock.
In
April 1917 the entire $600,000 1st 5s were transferred to the N. Y. N. H. &
H. RR. Co.
See remarks above under
Rhode Island Co. concerning
transfer of control to trustees.
Lease.—Is leased to Rhode Island Co. for 999 years from June 30 1911;
lessee to pay 1% on stock, interest,
STOCK AND BONDS—
taxes and all charges.
Date.
Interest.
372; V. 110,
p.
972, 1090, 1189, 1291.
Stock $1,000,000 ($100)
— -
1st M $600,000 gold ($1,000)1 1901
No 8 f and not callable, ntf lint, at
V. 92,
Outstanding,
p.
1501.
Maturity,
$1,000,000
600,000 May 1 1931
fig M-NIndustrial Tr. Co., Providence. Trus.
ROAD.—Operates from Providence-Johnston line, R. I., to East Killlngiv, Conn., and Centredale to Chepachet, R. J., 35.67 miles; 60-lb. T
rails; standard gauge.—V. 90, p. 447; V. 92, p. 726, 1501; V. 108, p. 684.
(d) Seaview Railroad.
Reorganization Plans, Ac.—See Rhode Island Co. above.
Dec. 31 1919 New England Nav. Co. owned 7,000 shares of stock.
On
In
April 1917 the entire $600,000 1st 5s were transferred to the N. Y. N. H.
See Rhode Island Co. (above) regarding transfer of control
& H. RR. Co.
to
trustees.
1916; 3% in 1917, 1918 and 1919; 4% in
yearly thereafter.
V. 92, p. 1501.
1920 and 1921; 5% in 1922 and
ORGANIZATION.—Incorporated in Rhode Island
STOCK AND BONDS—
Date.
Interest.
Stock
First
on
July 28 1887.
Outstanding.
$700,000
Maturity.
.
$l,000,000i« 1898
5 J-J
600,000 July 1 1948
gold ($1,000)
...ntf!Equitable Trust Co., New York, Trustee.
ROAD.—Operates 19.24 miles of road between East Greenwich and
Wakefield.—V. 92, p. 726, 1501; V. 108, p. 685.
mortgage
BERKSHIRE STREET RAILWAY.
Proposed Sale of Stock —The entire capital stock of the Berkshire St. Ry.
6,500 shares of stock of the Vermont Co. (see below) owned by the
New Haven Co., -were to be sold before July 1 1919, provided sale was
authorized by the State of Massachusetts or the Court, rjut in March 1919
Judge Julius M. Mayer granted an extension of time until July 1 1921.
On June 30 1919 N. Y. N. H. & H. owned all the stock, the entire ($200,000) issue of debentures and $3,357,500 notes.
Receivership Discharged.—On Aug. 29 1919 Judge Lawton in the Mass.
Superior Court appointed C.. Q. Ilichman (Gen. Mgr.) receiver for the co.
V. 109, p. 886, 981,
On Sept. 9, 1919 Judge Hammond of the Superior
Court ordered the discharge of the receiver.
V. 109, p. 1079.
See also
V. 109, p. 1271.
and
ORGANIZATION.—Incorp. In Mass. on June 20 1901.
Franchise per¬
petual.
In 1906 absorbed the Hoosac Valley St. Ry. through exchange of
In May 1910 took over the PIttsfield Elec. St. Ry., Issuing $300,000
stock in exchange for stock of that company.
V. 90, p. 1295.
In March 1912 Mass. RR. Commission approved the 99-year lease of the
Vermont Co. to the Berkshire Street Ry.
On Feb. 1 1913 began
operation of Hooslck Falls RR. under agreement
with Vermont Co., to which the Hoosick Falls RR. was leased.
On Dec. 30 1916 the P. S. Comm. of Mass. ordered the co. to complete Its
Lee-Huntington line.
The entire line, 23.84 miles, was placed in operation
Aug. 16 1917.
Fare Increase.—Effective Nov. 12 1918, a readjustment of the 5-cent
fare zone was made which will increase the co.'s revenue. V. 107, p. 1579.
In Dec. 1918 the P. S. Comm. auth. the reduction of certain zone limits.
V. 107, p. 2374.
Service Discontinued.—On Nov. 12 1918 passenger service was discon¬
tinued on theline from Lee to Huntington and from Great Barrington to
Egremont and from Great Barrington to Canaan, Conn. V. 107, p. 1579;
V. 108, p. 170.
In Dec. 1918 the towns of Great Barrington," Sheffield and
Egremont voted to appropriate money to help the co. operate its lines
between these towns; Great Barrington voting $6,900; Sheffield, $1,100,
and Egremont, $600.
Interest Unpaid.—Int. on the Hoosac Valley ref. 4s due Sept. 1 1919
was not paid when due.
V. 109, p. 1271.
stock.
Date.
Interest
gold) 1902
5 g J-D
STOCK AND BONDS—
Stock $5,398,100 ($100)
First mortgage $800,000
Outstanding.
$5,398,100
Maturity.
...
800,000 June 1 1922
Philadelphia, Trustee.
c*_ntfjGirard Trust Co.,
Berkshire Street Ry deb_.tf- 1905
5 g M-S
200,000 Mar 1 1925
Hoosac Valley ref mtge $400,-) 1904
4 g M-S
300,000 Sept 1 1924
000 gold ($1,000)
ntf J Int. at Berkshire L. & Tr. Co., Pittsf., Trus.
PIttsfield Elec St Ry 1st mtge) 1904
4 g J-J
300,000 July 1 1923
g $300,000 ($1,000)-C*.ntf J Int. at Berkshire L. & Tr. Co.. Pittsf., Mass.
($1,000)
Stock
leased to the Union RR. Co. for 50 years for 6%
operate
By the
and the
or
and dividends
OFFICERS.—Chairman of the Board, Rathbone Gardner; Pres. & Gen-
Go.
lease
any
Lease.—On June 30 1911 was leased to Rhode Island Co. for Int. on bonds
on stock of 1%
in 1912 and 1913; 2% in 1914, 1915 and
EARNINGS.—For yearn ending Dec. 31:
Year end.
Operating
Net (after
Other
Dec. 31—
Revenue,
Taxes).
Income.
(a)
construct, purchase.
part of the State, except Newport County.
of Its charter It is vested with the power of eminent domain,
trolley roads In
-
*$3,746,037 above notes were held by N Y. N. H. & II. on June 30 1918
Goia Notes.—Secured by $2,078,300 par value of United Traction & Klec.
Co. stock. See offering In V. i02, p. 2255.
Tax-exempt in Rhode Island.
cars,
1899 by the Legislature of the
ORGANIZATION.—Chartered June 2
State of Rhode Island with power to
Stock, par $100...
Notes gold ($1,000) c.
able at 101 and int
[Vol. 110.
RAILWAYS
DueN YNH&HRRDec. 31 1919
3,392,500
Bonds.—The Berkshire St. Ry. 1st M. are not subj. to call.
Int. payable
bonds may be registered at office of N. W. Harris & Co.. Boston.
The Berkshire St. Ry. debs, are guar, by Consolidated Ry. Co.
and
EARNINGS.—For years ending Dec. 31:
Dec. 31
Year—
1919
1918..
1917
Operating
Revenue.
Net (after
Taxes).
$883,591 def. $13,906
856,769
def.278.034
1,058.724
46,739
Other
Income.
.$1,693
36.139
36,808
Interest,
Rentals. Ac.
$317,396
319.480
317,908
Balance,
Deficit
$329,608
561,375
234,361
ROAD.—Operates .72.25 m. of line (144.25 owned and 28.00 leased)
serving the cities of PIttsfield and North Adams and the towns of Williamstown, Clarksburg, Adams, Cheshire, Lanesboro, Dal ton, Lenox, Hinsdale.
Lee, Stockbridge, Great Barrington, Egremont and Sheffield, Mass, Pownal, Bennington and Shaftsbury, Vt., and Hoosick Falls, N. Y.
142
passenger and 36 other cars.
Apr., 1920.]
ELECTRIC
OFFICERS.—Pres.. Howard Elliott: V.-P., L. S. Storrs: Clerk & Mgr.,
C. Q. Richmond: Treas., A. E. Clark;
Aud., I. A. May.—V. 107, p. 2374;
V. 109, p. 675,886, 981, 1079,
1271, 1460; V. 110, p. 1088.
(1)
Vermont Company
Lease.—is leased co the Berkshire St. Ry. for 99
years from Feb. 1 1911.
Owns 20.46 miles of line (serving
Bennington and Pownal). being that partof the former Bennington <& North Adams St.
Ry. lying within the State
of Vermont.
Also owns the stock of the Hoosick Falls
Ry.
On June 30
1919 the N. Y. N. H. & H. owned 0,500 shares of stock and
$846,000 1st
Al. bonds (tf).
197
york
&
stamford
railway
co.
The New Haven Co. was to sell on or before
July 1 1919, pursuant to the
decree of the U.S. Govt., 5,000 shares of the stock and
$678,000 bonds, but
in March 1919 Judge Julius M.
Mayer granted an extension of time until
July
1921.
1
The New
Haven company intends merging this
company with the West¬
chester Street RR. and the Shore Line Electric RR. and will
dispose of
all the securities whenever a reasonable price may be realized.
On June 30 1918 N. Y. N. H. & H. owned entire
capital stock and the
$204,872 notes.
ORGANIZATION.—Chartered in New York on Aug. 3 1901 as
solidation of Port Chester Street Ry. and Larchmont Horse
Ry.
Fare Increase.—A new zone plan intended to increase the co.'s
a con¬
earning
into effect July 11 1919.
V. 109, p. 270.
co. applied to the N. Y. P. S. Comm. for auth.
to
issue $30,000 7% equip, trust notes to be used to purchase 7 steel one-man
safety cars.
V. 110, p. 1188.
power went
In March 1920 the
STOCK AND BONDS—
Stock
Interest.
.......
$450,000 ($1,000)1
gold
First
Date.
$500.000
First mtge
&
ref
mtge
Outstanding.
Maturity.
$500,000 In* 11-12 3H
1901
5 g A-O
426,000 Oct 1 1931
—c*_ntf lint, at New York Trust Co., N. Y., Trustee.
$2,000,0001 1908
4%
925,000
Nov 1958
gold
N Y & Stamford Ry notes
j_tf[Guar., p. & L, by N. Y. N. H. & Hartford.
204,872
EARNINGS.—For year ending Dec. 31:
Dec. 31
Operating
Net (after
Year-—
Revenue.
Taxes).
1918
$374,392
—
Other
Income.
$17,283
36,118
394,260
$646
Interest,
Balance,
Rentals,&c.
$96,024
665
Deficit.
$78,094
59,018
95,801
ROAD.—Operates ,37.675 miles of line (of which 24.274 miles are owned,
leased and 5.838 operated under trackage rights), serving cities of
Stamford, Conn., and New Rochelle, N. Y., and towns of Greenwich,
Conn., and Rye, Port Chester, Harrison aud Mamaroneck, N. Y.
80 pass,
7.563
and 8 other
83
Bonds.—Remaining
$1,000,
or
£200
and
bonds are reserved for construction.
Par, c»*
£100; r*. $1,000 and multiples.
Bonds of £200 or
coupon bonds at $4 85 per £, with adjustment
Any series or not less than $5,000,on any Int. date at 110.
Guaranty
multiples convertible into $
of Interest at current exchange rates.
000 of one or more series, redeemable
Trust Co.. N. Y., trustee.
cars
and 3 snow-plows.
OFFICERS.—Pres., Howard Elliott; V.-P., L. S. Storrs; Sec., A. E.
Clark: Treas., A. S. May; Aud., I. A. May; Gen.
Mgr., J. K. Punderford.
—V. 109, p. 270; V. 110, p. 1188.
Bonds
are
unconditionally
listed
on
street railroad.
Receivership.—In March
1920
Supreme
Court
Justice Morschauser
appointed Leverett S. Miller receiver for the co., on complaint of the
Farmers' Loan & Trust Co., N. Y., which is seeking to foreclose the
mtge.
V. 110, p. 972.
Under the decree of the Federal Court the N. Y. N. H. & II. was to sell
7,000 shares of stock and $222,000 bonds owned by it on or before
the
July 1 1919, but in March 1919 Judge Julius M. Mayer granted
of time until July 1 1921.
an
ORGANIZATION.—Incorporated in New York
on
Dec.
1 1909
as
suc¬
to the Tarrytown White Plains & Mamaroneck Ry. sold at fore¬
closure (V. 89, p. 1282) in three sections, two of which form the road of this
cessor
Mamaroneck.
Fares.—In
89,
p. 1484.
On July 1 1913 commenced operation of line
RR. Co. under lease.
1,466 miles in village of
Standard gauge; 70-lb. and 125-lb. rails.
May 1918 the White Plains authorities granted the com¬
company.
V.
of Shore Line
Electric
pany permission to charge a 6-cent fare during the months of June and
July.
In Feb. 1919 applied to the-P. S. Commission for authority to
put into effect a new zone system which will increase the co.'s revenue.
Several
of
schedule.
the towns in which
V. 108, p. 975.
the
co.
have approved the
operates
new
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity
Stock $700.000...
..All owned by the N. Y. N. H. & H. RR. Co
First
mtge $2,000,000
gold! 1914
5 g M-S I
$386,000 Sept 1 1944
—c*/lnt.
($1,000)
at Farmers' L. & Tr. Co., N. Y., Trus.
Bonds.—Subject to call at 102 from Sept. 1 1915 on 60 days' notice.
Remaining $1,614,000 issuable only to reimburse the company for cost of
future additions, Improvements, &c.
EARNINGS.—For year ending Dec. 31:
31
Operating
Net (after
Year—
Revenue.
Taxes).
Dec.
1918 ..-......$242,829
def.$58,708
1917
def.
246,023
80,0511
-/
Other
Income.
$343
Interest,
Rentals.Ac.
$33,187
346
Balance,
Deficit.
$91,552
27,284
100,989
ROAD.—Operates 29.663 miles of line (22.030 m. owned, 1.466 m. leased
and6.167ra. under trackage rights) serving city of Mt. Vernon and towns of
Tarrytown, Elmsford, Greenburg, White Plains, Harrison, Scarsdale, Eastchester and Mamaroneck, N. Y.
Has 37 passenger cars and 9 others.
OFFICERS.—Same
for N. Y. & Stamford Ry. Co. above/—V. 100,
as
644; V. 106, p. 2451; V. 107, p. 1921; V. 108, p. 975; V. 110,
p.
p.
972.
SHORE LINE ELECTRIC RR.
Merger, &c.—For reference to merger with Westchester Street RR. and
& Stamford Ry. and disposition of .securities, see latter co. above.
N. Y.
ORGANIZATION.—Incorp. in New York on Dec. 18 1909 to take over
section of the Tarrytown White Plains & Mamaroneck Ry. (sold at
foreclosure) between Mamaroneck and Larchmont, a distance of 1.46 miles.
the
Leased to Westchester Street RR. from July 1 1913.
Stock auth., $300,000.
In Aug. 1913 the New York P. S. Comm. authorized the N. Y. N. H.
& H. RR. to acquire all the capital stock of the company to be authorized
by the Commission (V. 97,
new
york
p.
597).
westchester
&
boston
ry.—An electric road.
On June 30 1919 the N. Y. N. H. & H. owned $4,984,938 stock.
ORG ANIZATION.-flncorp. June 8 1915 as a consolidation of the West
Chester Northern RR. and the old N. Y. W. & B. Ry.
(See this Section
for Sept.
1915.)
The franchise to operate in N. Y. City was signed by
Mayor McClellan on Aug. 2 1904.
V. 79, p. 628.
Lines from 180th St..
New York, to New Rochelle and from Mount Vernon to White Plains put in
operation
on
May 29 and July 1 1912, respectively, and from Harlem River
180th St., New York,
to
on
Aug. 3 1912.
V. 94, p.
1508, 162V;
V. 95.
48, 298.
p.
On July 26 1911 Pub. Serv. Comm., 2d Dlst., auth. $20,100,000 1st M.
(total auth. Issue, $60,000,000), of which $17,200,000 were Issued
forthwith.
V. 93, p. 286.
The remaining $2,900,000 bonds under this
authorization were issued from time to time for the construction of the
White Plains Branch.
On April 2 1913 the P. 8. Comm. granted permission
bonds
to issue $6,044,000 additional 4H% bonds, proceeds to be used for con¬
struction of main line double track from New Rochelle to Port Chester and
completion of White Plains Branch.
V. 96, p. 1089.
Of these bonds,
$744,000 have been Issued for construction of main line and $540,000 for
for
White Plains Branch.
Fare Increases.—For increased tariff schedule passed by the N. Y. P.
Comm. and effective Feb.
p.
1
1919,
see
V.
108,
p.
784.
8.
Compare V. 110,
562.
STOCK AND BONDS—
Stock $0,000,000 ($100)
Date.
>
Interest.
Outstanding.
Maturity.
$5,005,250
goldl 1911
4HI J-J
21.390,000 July 1 1946
tf (Int. on $ bds. In N. Y.; on £ bds. in London.
Due N Y N H & H RR June 30 1919
12,179,306
mtge $60,000,000
Series 1 (see text)
First
& i., by
Bonds
EARNINGS.—For year end. Dec. 31:
Operating
Year—
Revenue.
Net (after
Taxes).
1919 —..-..-.$752,307
1918
578,531
—
Other
.
Interest,
Income.
def.$58,097
def.120,643
Balance,
Rentals. Ac.
$7,883
3,845
Deficit.
$1,672,930
1,612,190
$1,723,144
1,728,988
ROAD.—Total miles of road operated, 21.44 miles.
Line commences at
River Station of the N. Y. N. H. & H. in N. Y., extending to
174th St. Junction, where the N. Y. W. & B. Ry. diverges from the New
Haven and on its own four tracks extending northerly to line of N. Y.
City,
Harlem
then through Mt. Vernon to Columbus Ave. June., at which
point the line
diverges Into two double-track lines, one extending through Mr. Vernon,
Pelham and New Rochelle to Larchmont June., 2.16 miles; the other line
extends from Columbus Ave. June, to White Plains,
passing through Mt.
Vernon.
Eastchester,
New
Rochelle,
Scarsdale
also V. 93, p. 346; V. 79, p. 501; V. 97.
p.
and
White
1824; V. 106,
p.
Plains.
See
1689.
OFFICERS.—Pres., Leverett S. Miller. N. Y.: V.-P., Howard Elliott.
—V. 100, p. 1919, 2011; V. 108, p. 784; V. 109,
p. 776, 888; V.110,p.562.
NEW
ORLEANS, LA.
new orleans railway & light co.
In July
1911 American Cities Company (see
below) acquiredcontio
plan under caption of Amer. Cities Ry. & Lt. in V. 92. p. 1373, 1434.
Receivership.—On Jan. 9 1919 Judge Foster in the U. S. District Court
per
appointed
J.
D.
O'Keefe receiver
the
for
co.
upon
American Cities
application
by
the
Co., holder of a defaulted debt of $16,929. V. 108, p. 269.
On Jan. 13 1919 D. B. H. Chaffe was
appointed Special Master in Chancery
by the U. S. District Court,
Foreclosure Proceedings.—In May 1919, the Empire Trust
Co.,
as
trustee
for the Ref. & Gen. Mtge. 5s, filed foreclosure
proceedings against the co.
in the U. S. Dist. Court at New Orleans for the collection of the int. due
May 1 1919.
V.
108,
p.
2241.
ORGANIZATION.—Incorporated in Louisiana on June 12 1905 as a re¬
organization of the New Orleans Rys. Go. per plan in V. 80, p. 651.
Old
common stockholders paid an assessment or $10
per share and received $10
new preferred and $35 new common; old preferred
paid $20 assessment
and received $20 In new preferred and $100 In new common.
Comprises
all the street railway, gas, elecfic lighting and power business (with the
exception of that furnished by the Consumers' El. Lt. & Pow. Co., to which
the co. also furnishes power under a favorable
contract) of New Orleans.
Stock and bonds
were listed on N.
Y. Stock Exchange in June 1906ml
V. 82, p. 1497; V. 88. p. 1621.
31 1919 owned the following stocks.
We show also the total
amounts outstanding of each Issue:
June
1909.
On Dec.
/
Amount
Issued.
STOCKS—
Owned
by
N.O.Ry.A
Lt. Co.
N. O. City RR. Co., preferred...
...$2,500,000
$2,473,900
5,000,000
4,600,000
2,500.000
953,300
234,700
349,800
4.869.600
5,250,000
5.211,300
N. O. & Carrollton RR. Lt. & P. Co., preferred
—
"
common...
St. Charles Street RR. Co
Orleans RR. Co
N. O. & Pontchartraln RR. Co
N. O. Gas Light Co....
Jefferson & Lake Pontchartrain
extensiion
The New Haven Co. intends to merge this company with the N. Y. A
Stamford Ry. and Shore Line Elec. RR. and to dispose of all the securities.
p.
Y. N. H. & Hartford RR.
See V. 93, p. 346.
Y. Stock Exchange.
V. 94, p. 768.
N.
common
westchester
guar.,
endorsement by N.
are
Cal.
Hoosick Falls Railroad.
Incorp. in 1910 to acquire that portion of the former Bennington & North
Adams St. Ry. lying In New York State.
On Feb. 1 1913 was leased to
,the Vermont Co. for 99 years but Is being operated by the Berkshire St. Ry.
by agreement.
All the stock is owned by Vermont Co.
Owns 7.55 miles
of line serving towns of Walloomsic, North Hoosick and
Hoosick Falls.N. Y.
(a)
new
RAILWAYS
Ry. Co
4.600,000
2.498,900
952,100
234.350
349,300
99,300
$21.487.800
Total
100,000
$21.288.750
The New Orleans City RR. is leased until Dec. 31 1955 to the New Orleans
Ry. & Lt. Co. for 5% on the pref. stock and % % until Jan. 1 1908 and 1%
semi-annually thereafter on the common stock.
Proposed Consolidation.—On May 22 1916 the stockholders of the Now
Orleans Ry <fc Lt. Co. and the various controlled cos voted to consolidate
under the same name and with the same
capitalization as the present New
Orleans Ry. & Light Co.. but an injunction was secured
by certain stock¬
holders of the N. O. City RR. restraining the
merger.
On Aug. 1 1917 this
dissolved by Judge Foster in the U. S. District Court at
Orleans.
The Court, however, retained jurisdiction of the suit in
order to pass upon the question as to whether the
minority stockholders
have been accorded proper treatment.
V. 105, p. 819.
It is planned to
have the consolidated company own all the physical properties now
operated,
injunction
was
New
and the stock of the New Orleans Gas
Light
cannot become party to the consolidation.
Franchises.—The N.
Co., which for legal reasons
O.
City UK. Co. franchises expire from 1943 to
1902, except one expiring In
1918:
the N.
O. &
Carrollton
fran
chlses expire In 1933; the St. Charles St. RR. franchises
expire in 1950 and
the Orleans RR. Co. franchises expire In 1951.
Gas franchise Is perpetual
and Is exclusive until 1925.
Electric light franchise Is perpetual; under
contract with city fixing rates, &c., entered Into Dec. 1915
(V. 101, p. 2072),
the city has the right to establish a municipal electric light
plant after Dec.
1925, but should lt elect to do so it must take over all street installations
made by the co. in the last 5 years at cost, less
5% per ann. for deprecia¬
tion.
V. 102, p. 1987.
On Oct. 27 1916 renewed contract with City of New Orleans for
for 10 years from
completion of system provided therein.
lighting
Wage Award by National War Labor Board—See V. 107, p. 1004, 1101.
Extension of Notes.—In June 1918 holders of the $4,000,000 6% deben¬
tures due June 1 1918 were requested to exchange same on a $ for $ basis
for new 1-year 7% notes due June 1 1919. but callable at 100 and int. on
30 days' notice.
V. 106, p. 2649.
The June and Dec. 1st 1919 int. on this
Issue had not been paid to April 1 1920.
The principal which also became
due on June 1 1919 was not paid nor were the notes extended but are being
carried as a past due obligation.
V. 109, p. 1462.
The War Finance Corp.
agreed to loan the co. $1,000,000 to reimburse the treasury for necessary
capital expenditures paid for out of earnings conditioned upon the extension
of the $4,000,000 debentures due Juno 1 1918.
V. 107, p. 82.
The int.
on this loan is paid
regularly.
The principal was due on June 1 1919, but
the War Finance Corp. expressed its willingness not to press payment of
same at that time.
As of April 1 1920, the total of the debt had been re¬
duced to $585,000 and the receiver was auth. to pay $25,000 monthly to
the War Finance Corp. so that this amount could be wiped out quickly.
V. 110, p. 765.
Interest Payments.—The July 1 1919 coupon on the co's gen. mtge. 4H %
bonds was paid in Sept. 1919 with int. for 3 mos. and the Jan. 1 1920
coupon together with int. for 3 mos. in Mar. 1920.
The int. on all under¬
lying companies bonds is being paid promptly on date due.
Past due
int. on the ref. & gen. lien 5s had not been paid to April 6 1920.
The following committee of bondholders has announced that upon the
deposit of bonds at any of the committee's depositaries the equivalent of
coupons due Jan. 1 1919 would be paid.
V. 108, p. 172, 269.
The bonds
included in the committee's call for deposits are as follows: New Orl. Ry. &
Lt. Co. gen. M. 4j^s, St. Charles St. RR. 1st M. 4s, Edison Elec. Co. 1st
M. 5s, New Orl. & Carrollton RR. 1st M. 5s, New Orl. City & Lake RR.
cons. 5s, New Orleans City RR. gen. M. 5s, New Orl. Power House Co.,
Ltd., 1st M. 5s, Merchants El. Lt. & Pow. 1st M. 5s. and Canal & Clai¬
1st M. 6s.
V. 108, p. 269.
The coupons on the above issues
excepting the N. O. Ry. & Lt.gen, mtge. 4Hs (see above) were (up to April
1 1920) being paid promptly on date due.
Bondholders' Committee.—-Chairman, R. S. Hecht; Vice-Chairman, Craw¬
ford H. Ellis, J. P. Henican, Geo; W. Dodge, Arthur M. Hugcr, Mortimer
N. Buckner, Albert Breton and P. H. Saunders.
Depositaries: Hibernia
Bank & Trust Co., Interstate Trust & Banking Co. and Comml. Trust &
Savings Bank, all of New Orleans, and the New York Trust Co., N. Y.
V. 108, p. 172
269,379.
In addition the following committees have been formed:
borne RR.
Committee for Ref. A Gen. Lien 5s.—Chairman, Geo. K. Reilly; John S.
Newbold, Arthur V. Morton, Geo. A. Colston, Lynn H. Dinkins; Sec.,
Walter B. Reed, 517 Chestnut St., Phila., Pa.
Depositaries: Penna. Co.
for Insur. on Lives & Granting Annuities, Phila.; Interstate Trust & Bank¬
ing Co., New Orleans, and the Mercantile Trust & Deposit Co., N. Y. City.
V. 108, p. 579.
Committee for One-Year 7% Notes.—Chairman, Clarence L. Harper,
F. H. Barclay, J. A. Cauldwell, Chas. Counselman, William S. Evans,
John Y. G. Walker, Joseph Wayne Jr.; Sec., T. Homer Atherton, 325
Chestnut St. Phila., Pa.
Depositaries: Fidelity Trust Co., Phila.; Central
Union Trust Co., N. Y. City.
V. 108, p. 579.
Rates.—On
Oct.
8
1918
ordinance was passed by the Commission
6-cent fare and a 30% increase in
an
Council of New Orleans providing for a
and electric rates, effective Oct. 10 1918.
Proceeds of these advances
applied to the repayment of a Government loan of $1,000,000 to
gas
to be
are
On
V. 107, p. 1579.
Compare V. 107, p. 1482.
Nov. 25
1918 Judge H. G. Cage of the Civil District Court at New Orleans upheld
the company.
of this ordinance.
In Dec. 1918 the Board of Public Utilities
ordered the old rates restored.
The purpose of the Board being to deter¬
mine its own power and authority in the regulation of public service cor¬
the legality
porations operating in New Orleans (V. 107, p. 2476). In Jan. 1919 Judge
King in the Civil District Court at New Orleans refused to grant an injunc¬
preventing the company from charging the increased rates, and held
that the Act creating the Board was unconstitutional and in May 1919 this
decision was affirmed by the Louisiana Supreme Court.
V. 108, p. 2023.
City's Offer for Gas Plant Rejected.—In Feb. 1920 the New Orleans Gas
Light Co. rejected the city's offer of $5,250,000 for its plant and mains.
V. 110, p. 871.
Compare V. 110, p. 261.
tion
Date.
STOCK AND BONDS—
Outstanding.
$20,000,000
Maturity.
10.000,000
Interest.
Common $20,000,000 ($100)-Pref 5% $10,000,000 ($100)
See text
5 Q-M
non-cumulative
See text
17.544,000 July 1 1935
1905
4H g J-J
mortage $30,000,000 gold ($1,-4Interest at New York Trust Co., Trustee, or
000)
—c*tfl
at office of company.
N O Ry & Lt Co ref and gen( 1909
5 g M-N
6.117.700 Nov 1 1949
lien mtge $50,000,000 ($1,-1 Empire Trust Co., N* Y., Trus. Int. at
000 & $100) gold
c*tf I
Guaranty Trust Co., N. Y.
N O Ry & Light Co gen
One-year notes
N O City gen mtg $3,250,000
gold ($1,000)
c*tf
1918
7%
__
Past due
3,525,000
1898
4-5 g J-J
3.200.000 July 1 1943
payable at office of company.
Fidelity Trust Co., Louisville, Trustee.
1893
5 g J-J
2,393,500 Jan
11943
New Orleans City 9c Lake 1st
mtge for $5,000,000 gold Subject to call tor sinking fund at 110.
($500 and $1,000)
c»tf Columbia Trust Co., Louisville, Trustee.
Interest payable at office of company.
1901
5 g J-J
200,000 July 1 1943
N O Power-house mortgage
Trust Co., Louisville, Trustee.
gold $200,000 ($l,000).ctf Fidelity
Int.
Interest at office of company.
-
cntf Interest at office of company.
($1,000) gold
1914
6 A-0
100,000
Oct 1 1924
Equip lease oblig's $199,000
($500 and $1,000)
tf. Int. at Fidelity Trust Co., Phila.. trustee.
7 M-N
500,000
Receiver's
certlfs., $500,000] 1919
($1,000)
\Int. at Girard National Bank, Phila., Pa.
-
Bonds.—On the New Orleans 9c Carrollton consolidated
per annum
is
is payable to a sinking fund.
Bonds.—$209,000 coll. trust bonds in addition to amount shown outstand¬
ing are held in treaaorv.
Remainder reserved for acquisition of addi¬
tional property.
Interest rate 5% for first six years and 6% per annum
for 7th and 8th years.
Bonds are red. at par and int. on any int. date
$2,500,000 were retired by lot at par and int. on July 1 1916.
Majority,
stocks of the controlled companies are deposited as collateral for the bonds.
V. 93, p. 285.
Up to the time of going to press no arrangements for pay¬
ment or extension of the bonds and notes had been made.
Dividends.—Semi-ann. div. of 3% paid on pref. stock from Jan. 1912
to and incl. Jan. 1915.
In July 1915 only 1H % was paid (V. 100, p. 2083).
11998767
Jan. 1917. 1^%; none since.
1916.3%.
bonds $30,000
$3O,O0O per
A sinking fund of
provided for the redemption of the N. O. City & Lake RR. bonds.
Merchants' Elec. Co. bonds are sub. to call at 102 and int. at any time.
Street RR. bonds are not subject to call, but a propor¬
tionate amount will be retired yearly by purchase in open market.
Edison
Elec. Co. of N. O. bonds have sinking fund of 1% per ann. of bonds out.
A sinking fund of $15,000 annually, commencing Jan. 1 1921, is provided
for the redemption of Canal & Claib. 6% bonds.
Of the $30,000,000 general mortgage of the New Orleans Railway
& Light Company, $958,000 are pledged under the general & refunding
mortgage 5s,
$29,000
are
in treasury and $11,469,000 are reserved
for
prior
liens.
They are subject to call on any interest date
upon 4 weeks' notice at 105 and interest.
See V. 82, p. 1497.
See
description of bonds and property in V. 88. p. 1621.
$30,000,000 of
the ref. & gen. Hen mtge. bonds are reserved to retire the Gen. Mtge. 4H%
bonds; remaining bonds may only be Issued for betterments and improve¬
ments at 75% of cost and for acquisitions of additional securities of sub¬
sidiary companies under certain restrictions.
Bonds are red. in whole but
not in part on Nov. 1 1919 or any int. date thereafter at 105 and int. on
6 weeks' notice.
Tax refund in Pa.
See V. 89. p. 411; V. 92, p. 1033.
of the $6,117,700 outstanding, $1,448,700 are printed In French and are
payable, p. & I., in France.
The equipment lease obligations are guar.,
p. & i., by the N. O. Ry. & Lt. Co.
Subject to call at 102H and divs.
Dividends.—First quar. div. on pref. stock—1>4%—paid in Jan. 1906,
and same amount quar. thereafter to and incl. July 1907; Oct. 1907,
The
The St. Charles
V. 104. p. 2552.
Earnings of American Cities Co. System—12 Mos.
Year—
19
1919.
1918
,
end. Dec. 31.
OPERATING COMPANIES.
Gross
Expenses,
Net
Interest,
Earnings.
Taxes, Ac.
Earnings.
Disc.,Ac.
$22,978,738 $17,843,238
$5,135,500
$4,198,343
18,111,806
13,532,694
4,579,112
4,048,892
16,670,444
11,145,998
5,524,446
3,895,499
15,464,361
9,965.083
5.499,278
3,810,259
Calendar
Balance,
Surplus.
$937,159
530.220
1,628.947
1,689,019
COMPANY.
HOLDING
Bond
Pref .Div.
Balance,
Interest.
(3%).
Surplus.
$51,492
$626,936
def.$575,444
201,442
630,000
def. 428,55$
895,295
592,500
sur. 302,795
OFFICERS.—Chairman of Board, J. K. Newman; Pres., Francis T.
Homer; V.-Ps., D. D. Curran and Percy B. Warner; Sec.-Treas., Miss M.
McGrath.—V. 107, p. 500, 1187, 1191, 1918; V. 108, p. 266 , 478, 577,
1273, 2021.
19119
Total
Net (after
Income.
Taxes. Ac.).
$147,676
511,656
1,191,904
_
—
(a) Houston Lighting & Power
can
Co. (1905).—Controlled by the
Ameri¬
Cities Co.
ORGANIZATION.—Incorp. in Texas Jan. 8 1906 and took over the
business of the (old) Houston Lighting 9c Power Co.
Owns and operates
the entire municipal and commercial electric-lighting and power facilities
in Houston, Magnolia Park, Harrisburg, West Houston and all suburbs.
Franchises in nearly all cases are perpetual.
DaU..
STOCK AND BONDS—
1899
5 F-A
1.970.000 Feb
11933
$2,000,000
($500 & $1,000)
ntf Interest at office of company.
1896
6 g M-N
749,000 May 1 1946
Canal & Claib RR cons M g
Interest at office of company.
$800.000 ($500 & $ 1.000) 1899
5 J-J
2,172,000 Jan
2 1929
Edison Elec of N O 1st M
($1,000) sf $2,500,000 c*tf Int. at American Trust Co., Boston, Trustee.
1899
5 g J-J
300.000 July 1 1929
Merchants' Elec Co 1st mtge
$500,000 gold ($500)-.c*tf Int. at Merch. L. 9c Tr. Co., Chicago, Trus.
1902
4 g J-J
375,000 Jan
1 1952
St Charles St 1st M $600,000
N O & Car con M
annum
[Vol. 110.
ELECTRIC RAILWAYS
84
Interest.
Outstanding.
Maturity.
$2,000,000
Common $2,000,000 ($100)
First
mortgage
$5,000,000(
1911
5 g A-O
1.903,000 Apr 11931
c*l Whitney Cent.Tr.&S.Bk.,New Orl..Trustee.
($1,000) gold
Bonds.—Redeemable at 105 and int. at any int. period on 30
days" notice;
Sinking fund of 1 % of bonds outstanding began July 1
$644,000 in treasury.
callable by lot.
EARNINGS.—For
12
Year—
months ending Dec. 31:
Gross.
Net (aft.Taxes) *Charges
$1,301,612
Surplus.
$177,847
$124,301
$302,148
1915.
1918
1,024,866
251,412
103,815
147,597
*
Includes City of Houston participation in profits.—V. 103, p. 1891;
V. 107, p. 505.
YORK
NEW
CITY, N. Y.
EIGHTH AVENUE RR.—Underground trolley
road.
Road was leased to Met.
from Nov. 23 1895 at rental of $215,000
per annum, which provided for interest on the scrip and 16% dividends on
stock, besides all taxes.
This lease was terminated, however, by an order
of Judge Mayer in the U. S. Dist. Court on July 11 1919, separating the co.
from the receivership of the N. Y. Railways.
The co. is now operated by
its stockholders.
Transfers are neither given nor accepted.
V. 109, p.
1271; V. 109, p. 172.
See also V. 109, p. 270.
Underground electric trac¬
tion system used between 158th St. and Battery Place.
V. 67 ,p. 178, 956.
On Nov. 28 1913 the P. S. Comm. authorized the issuance of $750,900
6% 5-year certificates, dated Feb. 1 1914, replacing the eanae amount of
certificates Issued in 1884 and due Feb. 1 1914.
The $750,000 scrip of
1914 originally fell due in Feb. 1919 but has been extended to Feb. 1929.
ORGANIZATION.—Chartered Jan. 10 1855.
St. Ry., now
N. Y. Rys.. for 99 yrs
STOCK AND BONDS—
Stock
Par.
$100
Interest.
Quar.
Outstanding.
$1,000,000
Maturity.
See text.
Scrip of 1914
100
6 F-A
750.000
Feb 1929
Scrip of 1914 replaces same amount of scrip of 1884 which fell due Feb. 1
1914.
Again, in 1919, extended to Feb. 1929.
Red. any int. day. V. 97,
1503.
EARNINGS.—For first 5 months under separate management (Aug. 1 to
1919): Total revenue, $538,211; net, after taxes, $71,860.
ROAD.—Tot. track owned and operated, 18.822 miles.—V. 109, p. 172,
270, 1080, 1272.
p.
Dec. 31
INTERBOROUGH
RAPID TRANSIT CO.—MANHATTAN
RAIL¬
WAY.—See "Railway and Industrial" Supplement.
April, W
In 1916,
REPORT.—For calendar years:
Balance,
Reserves.
Surplus.
1919
$11,341,329
$872,500
$437,344
1918
8,659,533
151,292
Revenue passengers carred in 1919, 108,442,188; transfers, 30,490,993;.
in 1918, 95,006,027; transfers, 26,666,129.
Net (after
Interest,
Taxes, Ac.)-.
Ac.
$3,408,876
$2,099,032
2,158,993
2,007,701
Gross
Earnings.
Calendar
Year—
—
-
—
ROAD.—Companies controlled operate 62.02 miles of single track, 71.53
&c.; total track, 219-00
Has 698 cars.
Rails 58 to 107-lb. T and girder.
Gauges, 4ft
miles of double track and 17.04 miles of sidings,
miles.
SH in. and 5 ft. 2Yx in.
Owns 3 power stations
58,700 k. w. generating capacity.
and 8 sub-stations, with
OFFICERS.—Pres., D. D. Curran; Gen. Mgr., John S. Bleecker; Sec.,
DeGrange; Treas., H. A. Ferrandou; Aud., A. B. McCoard.—
V. 108, p. 2023, 2241, 2330; V. 109, p. 72, 173, 371, 477. 1273, 1462, 1891.
V. 110, p. 78, 261, 765. 871, 1415.
Joseph H.
AMERICAN CITIES COMPANY.—A holding company.
ORGANIZATION.—Incorporated in New Jersey on June 19 1911 to
take
over
the entire stock
holdings of the American Cities Ry. & Light Co.
and at least two-thirds of the common and preferred stocks of the New Or¬
leans Ry. 9c Light Co., per plan In V. 92, p. 1373, 1434.
The United Gas &
Corp. In 1913 purchased a majority of the com. stock of the American
Cities Co.
For terms, see United Gas 9c Elec. Corp. under "New York"
and V. 97. D
597. 952, 1202.
Elec.
Default.—Receiverships having occurred for the New Orleans Ry. & Lt.
and the Memphis St. Ry. Co.,
committee for the coll. trust bonds due July 1 1919
Co., the Birmingham Ry., Lt. & Pow. Co.
the following protective
has been formed:
Committee
for
Coll.
Trust
5-6s.—Chairman, J.
K. Newman; Lynn
H.
Dinkins, Archibald Kains, Lewis H. Parsons, Percy Warner; Sec., H. L.
Falls, 212
Carondelet St., New Orleans, La. Depositaries: Mercantile
Trust 9c Deposit Co., N. Y.; Guarantee Trust & Safe Deposit Co., Phila.;
Canal-Commercial Trust & Savings Bank, New Orleans.
V. 108, p. 577.
Companies
Controlled.—The following shows the companies controlled
outstanding in each case and the proportion con
American Cities Company.
with the amount of stock
trolled by the
—Preferred Stock—
Total Issued.
New Orleans (La.) Ry. & Lt. Co.$10.000,000
Birm.(Ala.)Ry.,Lt. & P. Co
3,500.000
Memphis (Tenn.) St. Ry. Co
2,500,000
Little Rock (Ark.) Ry.&Elec.Co750.000
Knoxville (Tenn.) Ry. & Lt. CoHouston(Tex.)Ltg.&P. Co_1905
Total--
Owned.
88%
79%
89%
80%
——$16,750,000
—Common Stock-
Outstanding. Own'd
$20,000,000
96%
3.900.000
90%
2.500.000
87%
1,911,700
85%
2.050.000 100%
2,000,000 100 %
$32,361,700
Detailed statements for all the above companies will be found under the re¬
spective cities in this publication except the Houston Lighting A Power Co.,
whose return is given below.
STOCK AND BONDS—
Common $25,000,000 ($100)
Pref $35,000,000 ($100) 6%f
Date.
Interest.
J-J
Outstanding.
$16,264,700
20,553,500
Maturity.
See text
from July 1 1911
(Red. at 110 and accumulated dividends.
gold! 1911
5-6 g J-J
7.500,000 July 1 1911
($100 and $1,000)
c#\lnt. In New York or New Orleans.
-year deb notee
1917
6%
3,000,000 July 1 1918
Stock.—Pref. gtock,Iisted on N. Y., New Orleans and Phila. Stock Exch'ge.
cum
Coll tr mtge $11,000,000
NEW YORK & HARLEM RAILROAD.—Underground electric railroad.
ORGANIZATION.—Chartered April 25 1831.
Owns also a steam road
the electric roads as
well as the steam line, being described under the title New York & Harlem
leased to New York Central, its securities, which cover
among steam
railroads in
our
"Railway and Industrial" Section.
The electric (formerly horse) lines (18 9 miles of track) were leased to the
Metropolitan St. Ry., now New York Rys., for 999 years from June 11 1896
but the rental due Dec. 26 1918 having been defaulted, Judge Mayer or¬
dered the New York Rys. Co. to terminate this lease and return the line to
the company, effective Jan. 31 1920.
V. 110, p. 360.
Dividends due
April 1 and Oct. 1 1919 remain unpaid, due to non-payment of rentals.
Line operated electrically from March 1898 from City Hal] to 135th Street.
1424; V. 106, p. 499; V. 108, p. 79; V. 109, p. 1273; V. 110, p.360.
—V. 96, p.
RAILWAYS CO.—Underground trolley.
Corp. owns $16,276,500 of the stock.
Receivership.—On March 20 1919 Judge Mayer in the U. S. District
Court appointed Job E. Hedges temporary receiver for the company, upon
application by the American Brake Shoe Co., holder of an overdue claim
for $36,806.
On March 31 1919 the receivership was made permanent.
V. 108, p. 1391.
Compare V. 108, p. 1165.
On April 21 1919 Judge Mayer
In the U. S. District Court denied the applications of the Eighth and Ninth
Ave. RR. Cos. for an order directing the receiver to turn back the properties
to the lessor companies.
Judge Mayer also refused to order the receiver to
NEW YORK
The Interborough Consolidated
Jay the 1919, however, Judge Mayer issued a formal order separating the
V. 108, p. 1721. On
uly 15 rentals due the complaining companies.
Eighth Ave. RR. from the receivership of the New York Railways Co.
The
order Instructed the receiver and the Eighth Ave. RR. Co. to make an agree¬
ment that, as long as Commissioner Nixon's two-cent transfer order (see
below) exists, fares shall be the same as if the separation had not been made.
If, however, the order is contested, the Eighth Ave. line is to be considered
absolutely independent and no transfers will be given.
V. 109. p. 270.
[This order was modified on Sept. 26 1919, and, effective Oct. 1 1919, all
transfers between the Eighth Ave. RR. and the New York Rys. Co. were
discontinued.—Ed.]
Compare V. 109, p. 1079.
On Sept. 11 1919 Judge
Mayer resolved to return the Ninth Ave. RR. to its owners.
V. 109. p.
1080.
Effective Jan. 31 1920, Judge Julius M. Mayer order the Fourth &
Madison Ave. Line, which had been leased to the company, returned to its
parent company, the New York & Harlem RR.
V. 110, p. 360. The in¬
terest due July 1 1919 on thelmpt. & Ref. Mtge. 5s of the 23d Street Ry. Co.
was paid when due (V. 108, p
2433), as was the Oct. 1 1919 Int. on the
1st M. 5s of the 34th Street Crosstown Ry. (V. 109, p. 1366).
The interest
due July 1 1919 on the company's First Real Estate 9t Ref. 4s was not paid
when due.
V. 108, p. 2528, 2629.
In Feb. 1920 Judge Mayer ordered the
receiver to withhold payment of the interest due March 1 1920 on the
$5,000,000 Lexington Ave. & Pavonia Ferry RR. 5% bonds and the
$3,000,000 Columbus & Ninth Ave. RR. 5% bonds.
V. 110, p. 871.
On Sept. 11 1919 Judge Mayer auth. the receiver to cease operation for
the present of the following lines: (a) Avenue C line, which runs from the
East 23d St. ferry to the Desbrosses St. ferry via Avenue A, 17th and 18th
Sts., Avenue C, 3d St.. First Ave., Houston. Prince. Stanton, Washington,
Greenwich and Watts Sts.; (b) Madison St. line from Grand St. ferry to
Chambers St. ferry via Madison St., Chambers and Duane Sts.; (c) Sixth
Ave. ferry line from Sixth Ave. and 3d St. to Desbrosses St. ferry via Varick,
Carmine and Watts Sts.
All of the lines except the last are owned by the
company.
The latter is owned by the Sixth Ave. RR., which is leased by
the company.
V. 109, p. 1080.
These lines ceased to operate on Sept.
20 1919, and a bus system was installed over these routes by the cily.
The Delancey St. line was also
abandoned at that time but service was
restored on Feb. 1 1920 by order of the Court.
V. 110, p. 562.
Maintenance A Depreciation Reserve.—In Oct. 1919 Judge Mayer, in the
U. S. Dist. Court ordered the receiver to set aside 38% of the gross trans-
9
ELECTRIC
Apr., 1930. j
portation revenue as a maintenance and depreciation reserve, following
the report (V. 110, p. 75) of Stone & Webster which stated that, under
existing conditions it would take 37.4% of the revenue to go as far in the
way of maintenance work as was done with 20% in 1914, the old figure.
V.
109, p. 1610.
Statement by Judge Mayer.—V. 109, p. 1273.
Report to Court by Stone & Webster.—See V. 110, p. 75.
Compare V.
109, p. 1080.
Foreclosure Proceedings.—On June 6 1919 Judge Mayer in the U. S. Disb.
Court auth. the Farmers' Loan & Trust Co., as trustee, to bring suit to
foreclose the adjustment mtge. of Jan. 1 1912.
V. 108, p. 2433.
In Sept.
1919 the Guaranty Trust Co. of N. Y., as trustee, filed a bill to foreclose
the 1st real estate & ref. mtge. V. 109, p. 1273. See also V. 110, p. 1643.
Special Franchises and Real Estate Sold to Satisfy Tax Liens.—V. 109,
p. 1366.
Committee for Adjustment Mortgage Income 5s.—John Candler Cobb,
Chairman; Oscar Cooper, Haley Fiske, Frank L. Hall, Duncan A. Holmes,
Ernest Stauffen Jr. and Richard H., Swartwout, with B. W. Jones as
Secretary, 16 Wall St.
Depositary: Bankers Trust Co., N. Y.
Agents:
Old Colony Trust Co.. Boston and Comm. Tr. Co., Phila.
V. 108, p. 1061.
Deposits have been called for.
V. 108, p. 1275, 1512, 2023.
Committee for First Real Estate & Ref. M. 4s.—Harry Bronner, Chairman;
William A. Day, Caspar W. Morris, Charles A. Peabody, W. H. Remick,
Frederick H. Shipman and Harold Stanley, with Geo. L. Burr as Secretary.
140 Bway., N. Y. City.
Depositary, Guaranty Trust Co., N. Y.
V. 108,
p. 1061.
Deposits were called for and up to Oct. 1919 "a large majority"
had been deposited with the committee.
V. 109, p. 1610. Compare
108, p. 2023; V. 109, p. 1273.
Tort Creditors' Committee.—Chairman, Samuel Seabury, John V. Bouvier
Jr., Robt. H. Ernst, Charles Steckler.
V. 108, p. 2241.
Valuation by Stone & Webster.—V. 110, p. 562.
ORGANIZATION.—Incorporated on Dec. 29 1911, and at midnight on
Dec. 31 1911 took over the lines of the old Metropolitan Street Ry. sold at
foreclosure
(V. 93, p. 1787) on Dec. 29 1911, per plan in V. 93, p. 1533
(formally approved by Public Service Commission on Jan. 24 1912).
See V. 94, p. 977.
The sale did not include the leases of the Central
Park North & East River RR., 28th & 29th Sts., the Second Ave. RR. and
Fulton St. RR.
The latter road was abandoned in 1908 (V. 90, p. 1675).
In 1913-14 acquired a half-interest in the Bridge Operating Co., which,
under an agreement with the city dated May 21 1904, operates local cars
over the Willlamsburgh Bridge.
With the Third Ave. Ry. and the Brook¬
lyn Rapid Transit Co. controls the Brooklyn & North River RR., operating
over Manhattan Bridge.
(This line ceased operating on Oct. 4 1919.)
On July 24 1918 purchased, with the P. S. Commission's approval, the
property of the Central Crosstown RR. (incl. lease of the old Christopher &
Tenth St. RR.) at foreclosure for 52,114,000.
V. 107, p. 402, 501, 906,
On Nov. 30 1914 the Public Service Comm. authorized the company
,
•
STOCK AND BONDS—
Lessor
purchase the $600,000 capital stock of the 23d
first real estate & ref. 4s to pay
Street Ry. at $350 per
for same. $507,500 of
purchased.
The authority was given on condition
that the company shall provide for an amortization of 20% of the face value
of the bonds, representing the discount on the bonds.
Has acquired 8,536
shares of the stock of the Bleecker St. & Fulton Ferry RR. at $28 50 per sh.
Franchises.—Most of the franchises are perpetual.
In Oct. 1917 the co.
rejected a franchise drawn by the city permitting the operation of a line
In W. 86th St.
V. 105, p. 1618.
Proposed Consolidation, &c.—Statement by P. S. Commissioner Nixon on
solution of the rapid transit problem in New York City is summarized
under caption "Rapid Transit in N. Y. City," in V. 109, p. 578.
See also
Y. 110, p. 971 under same caption.
the stock has been so
Tax
Franchise
decisions of Supreme Court Justices
assessed valuation of the special franchises
V. 95, p. 1473.
Staten Island Transfers.—The arrangement made between the company
and the city for free transfers at the Battery to and from the ferryboats
and the cars of the New York Railways running to the Battery (see V. 99,
p. 49) was passed in July 1914
by the Board of Estimate.
No re-transfers
permitted and of each nickel the city received 2 cents and the company 3
cents.
The plan took effect Sept. 15 1914, but was terminated on Sept. 15
1919 by the receiver for the company, who was authorized to take such
action by Federal Judge Mayer,
V. 108, p. 2433; see also V. 109, p. 1180.
Fares—Transfer Charge Allowed.—On July 7 1919 P. S. Commissioner
Nixon authorized the receiver to charge 2 cents for transfers at 99 of the
113 points where transfers had been given free.
The receiver had applied
for authority to charge 3 cents for such transfers.
Y. 109, p. 172, 270, 371,
477.
A resume of the company's efforts up to this time to obtain higher
fares or relief in other forms and the attitude of the city administration on
this question will be found in the March 29 1919 number of this publication,
A writ of certiorari obtained on
Nov. 17 1919 by Corporation Counsel Burr calling for a review of Com¬
missioner Nixon's action in abolishing free transfers on the co.'s lines and
on the lines of the B. R. T.
(Y. 109, p. 1987) was quashed by Justice
Greenbaum of the Supreme Court on March 16 1920.
V. 110, p. 1188.
"Fares."
During 1913 and 1914 storage battery cars were substituted for horse cars
on Chambers St., Duane St..Spring St., Delancy St.and 6th Ave.ferrv lines.
On
Jan.
Roosevelt
horse-car
17 1916 the P. S. Commission granted auth. to abandon
Ferry branch of the Chambers St. line.
In July 1917
the
the
of the Bleecker St. & Fulton
the city, was abandoned.
unused franchises formerly
Metropolitan St. Ry.. and to remove the tracks and re-pave
operations on the Bleecker St. line
Ferry RR., the only remaining horse-car line in
In Jan. 1914 the company agreed to abandon
owned by the
the streets.
V. 98, p. 237.
Williamsburgh Bridge
Connection.—Cars of the old Metropolitan
began to run across the Williamsburgh Bridge in Jan.
Suit under Adjustment Mtge.—The suit brought by
lines
1905-
the N. Y. Life Ins.
Co. to recover unpaid interest on the bonds since Jan. 1 1912 (approx. $50
for each $1,000 bond, incl. coupon due April 1 1915) was dismissed in
1915, but G. B. Leighton of Boston, representing the bondholders' com¬
mittee. intervened (V. 100. p. 1349. 1918; V. 101, p. 1973).
In Nov. 1915
the
a
Court, reversing a lower court,
the full standing that the N. Y.
Appellate Div. of the Supreme
decision giving Mr. Leighton
rendered
Life Ins.
previously had in the case.
Application to Issue Additional Bonds.—In June 1912 applied to the Public
Serv. Comm. for permission to issue $754,000 1st real estate and ref. 4s to
refund Metropolitan Crosstown 5s.
V. 94, p. 1627.
Still pending.
On Nov. 1 1912 the P. S. Comm. authorized the issuance of $640,000 real
estate and ref. bonds (permission to Issue $1,050,000 having been asked) to
purchase new stepless cars.
V. 95, p. 1207. None of these bonds is in¬
cluded in the amount In the table.
Justice Greenbaum In the N. Y. Su¬
preme Court in June 1914 granted a writ of certiorari to review the order
of the P. S. Comm. authorizing only $640,000 bonds.
V. 98. p. 1994.
Matter is still pending.
Final Distribution to Metropolitan St. Ry. Shareholders.—V. 103, p. 1980.
of Met. St. Ry. Gen. & Coll. Tr. M. Bonds.—V. 106, p. 1344.
distribution of sum received by this co. from the settlement of the
Metropolitan St. Ry. receivership, see Y. 105, p. 2272.
Guaranty Decision.—In May 1917 the U. S. Supreme Court affirmed tne
decision of U. S. District Judge Hough, of New York, dismissing the action
brought by the bondholders' committee of the old 28th & 29th streets RR.
(property foreclosed and now known as Mid-Crosstown Ry.) against the
New York Rys. Co. on the ground that the Federal Courts had no jurisdic¬
tion.
On Nov. 14 1918 a settlement agreement was made with the bond¬
holders' committee and the litigation (case had been carried Into the State
Court) terminated.
/
Wage Increases.—V. 107, p. 1101; V. 109, p. 776,
Payment
For
Outstanding.
Maturity.
$17,495,060
4 J-J
18.061,290 Jan 1 1942
(see text)
c#&r*tf\Guaranty Trust Co.. New York. Trustee.
Convertible scrip
!'
4%
2.250
Adjust inc M $33,000,000 g? 1912
5 A-O
30.609.487 Jan 1 1942
non-cum (see text)c*<fcr*tf \ Farmers' Loan & Trust Co.. N. Y., Trustee.
First real estate & ref. and adjustment income coupon bonds arc Id denom.
of $1,000; registered bonds are for $1,000. $5,000 or $10,000.
Int. on both
Issues payable at office of company or Its agency In New York City.
aLextngton Ave &
Pavonia f 1893
5 g M-S
5,000,000 Sept 1 1993
Ferry 1st M gold..c»<fcrntfl Interest at office of company in New York.
aColumbas 8c Ninth Avenuel 1893
5 g M-S
3.(500,000 Sept 1 1993
first mortgage gold.cArntflGuaranty Trust Co.. N. Y. City, Trustee.
aSoFy 1st gu $350.000($1.000) 1889
> 5 A-O
350.000 April 1 1919
Broadway Surf RR first mtge.
5 J-J
1.500,000 July 1 1924
aCentral Crosstown first mtge 1882
6 M-N
250,000 Nov 1 1922
__
Interest.
.
1918
—
Company separately operated—
a34th St. Crosstown first mtge 1896
400.000
Bills payable June 30
5 A-O
1 1943
11950
95,
1.000.000 April 1 1995
p.
544).
1914. April. $23 45
(1918 report In V. 107. p.
REPORT.—For fiscal years
Revenue
—
Operating expenses
Net earnings
Taxes
$3,240,887
$4,870,199
$2,676,550
722,542
$2,666,052
722,888
$3,388,940
$2,707,883
722.609
1.584,946
$5,015,438
$145,239
-
Total passengers
Gross earnings.
—
1915-16.
257,028,563
17,752,628
$3,399,091
transfers
Free
1745):
1916-17.
1917-18.
223,765,819 215,672,697
14,377,030 13,866,986
83.891.488 85.088.109
322,034,337 314,627,792
.—$11,920,034 $11,494,109
--8,131.471
7.868,810
$3,788,563 $3,625,299
1.170.224
1.032,012
$2,618,339 $2,593,287
627.118
647.600
$3,245,457
passengers
Revenue transfers
—
Operating income
Other Income
Gross Income
108.521.893
383,303,084
$13,714,531
8.374.079
$5,340,452
1.038.122
$4,302,330
567.869
Deduct—
Int.
on
Int.
on
Int.
on
underlying bonds, rents, &c..
1st real estate & ref. bonds—
adjust, mtge. Income bonds..
Total
..
$153,634
Deficit for year
Total deficit June 30
1918 as Der balance sheet,
Earnings.—For years end. June 30:
Mos.—
Gross Inc. Net, aft. taxes.
Latest
12
...$12,417,679
1918-19
$1,248,071
$148,053
$1,355,880.
Int., Rents, cfee. Bal., def
$3,423,029 $2,174,958
1917-18
12,547,152
3,245,458
For cal. year 1919, gross, $13,104,254; net, before
3,399,091
153,633
taxes, def., $376,683.
$11,212,760; net, before taxes, $1,676,897.
ROAD.—On June 30 1918 owned 42.756 miles of track,
miles are underground electric and 13.176 miles storage
In 1918, gross,
of which 29.580
electric; leased
underground electric and 3.858 storage electric); oper¬
ates under agreement 11.615 miles (11.138 underground electric and 0.477
storage electric); total track, 151.017 (133.506 underground electric and
17.511 storage electric).
Owned and controlled, 1,977 passenger (1,861
electric and 116 storage battery), and 141 service (130 electric and 11
horse); total, all cars, 2,118.
Main power station equipped with eleven
3,500 k. w. generating units and 5 sub-stations and distributing systems,
including 1,615 miles of single-power transmission ducts.
OFFICERS.—Pres. & Gen. Mgr., Frank Hedley; Asst. to Pres., W.
Leon Pepperman; Sec., H. M. Fisher; Treas., J. II. Campbell; Counsel,
J. L. Quackenbush.
Gen. offiees, 165 Broadway, N. Y.—V. 108, p.
2241, 2433, 2528, 2629; V. 109, p. 72, 173, 371, 477, 677, 776. 888, 1080,
1180, 1273, 1366, 1462, 1610, 1987, 2074, 2357; V. 110, p. 75, 360, 562,
96.616 miles (92.788
871,
1188, 1643.
Companies Controlled b.v
Co.
STOCK AND BONDS—
Date
Stock$17,500,000 ($100)
1st real est & ref mtge goldf 1912
Maturity.
Outstanding.
x$8.150,000 Dec
700,000 Jan
Bands.—Initial div. of $7 71 (0.771%) paid Oct. 1 1912
In 1913. April, $22 50 (2H%); Oct.. $16 36 (1.63%).
(2.34%); Oct.. $12 88 (1.288%).
In 1915. April,
$17 69 (1.769%); Oct., $13 70 (1.37%).
In 1916. April. $31 94 (3.194%).
Oct., $19 81 (1.981%).
None since.
See V. 106, p. 929.
Lexington Ave. <£ Pavonia Ferry 5s and Columbus
Ninth Ave. 5s were
fully described In V. 60, p. 1140.
Both were gaar. and later assumed by
the Metropolitan Street Ry. Co. (now New York Railways).
Christopher & 10th St. 1st M 4s.—Originally fell due Oct. 1 1918, but were
extended for 5 years to Oct. 1 1923.
Amortisation Fund.—On Dec. 10 1912 P. S. Commission modified its
order of Feb. 27 1912 (see V. 94, p. 698) by striking out the provisions
requiring the setting aside each year of a specified amount as an amortiza¬
tion fund, as it found it did not have power to make such requirement.
It
re-affirmed, however, its order requiring the setting aside each month,
beginning Jan. 1 1912, for maintenance and depreciation of a sum at least
equal to 20% of gross operating revenue for such month.
V. 95. p. 1608;
V. 94, p. 698.
On Jan. 18 1918 the Appellate Division of the Supreme
Court dismissed the writ of certiorari granted by Supreme Court Justice
Platzek on April 17 1913 to review the order. V. 106, p. 396. In May 1918
the N. Y. State Court of Appeals reversed the decision of the Appellate
Division. V. 106, p. 2560. An application for a modification of the order
so that it should provide for the setting aside of 20% of the gross passenger
revenue only instead of 20%
of the gross operating revenue was denied
by the P. S. Comm. on July 2? 1915. V. 101. p. 370.
Adjustment Income Mortgages are redeemable on any Jan. 1 or July 1 in
whole but not in part at par and Int.
Holders of adjust, mtge. bonds
shall have the power, by vote of a majority thereof, to elect one less than a
majority of the members of the board of directors until the full 5% per ann.
shall have been paid to holders annually for 3 successive years, and again
thereafter, during a like period, whenever a failure to pay such annuallnt.
shall occur.
During such periods, also, the holders of said bonds shall have
full power In respect of all other questions, upon which stockholders may
vote, to cast one vote for each $100 of the principal of the bonds held by them.
V. 94. p. 977.
Bonds are listed on N. Y. Stock Exch.
V. 94. p.827. 977.
In
Decisions.—For
83, under the caption,
,
5 g J-D
4 J-J
4 A-O
6 F-A
5%
Div. on Income
(V.
In 1910 and 1911. see
page
1893
1876
Christopher & 10th Ste 1st M- 1898
210.000 Oct 1 1923
•Eighth Ave certs of lndebt— 1914
750,000 Feb 11929
Twenty-third St RR mtge—_ 1912
1.500,000 Jan 11962
a Int. on these bonds paid at office of company, 165 Broadway, N. Y. C.
•
Interest on the $750,000 certificates of Indebtedness of the Eighth Ave.
RB, Is paid out of the $215,000 rental which the New York Rys. pays the
Eighth Ave. RR. (but see under separate heading above),
x There are also
outstanding $1,500,000 B'way & 7th Ave. RR. 1st M. 5s which fell due in
1904 and are all held by New York Railways.
First real estate and refunding mtge. is not limited as to amount of auth.
Issue, but further bonds may be issued to refund or acquire underlying
bonds, subsidiary bonds and other bonds, any obligations secured upon
mortgaged or leased properties; to acquire securities of other companies to
be pledged under mtge. and for add'ns, exten's and impts.
See purposes
for further issue In full in V. 94. p. 977.
Red. on any int. date on 12 weeks'
notice, at 105 and int.
See V. 94. p. 977.
Bonds are listed on N. Y. Stock
Exch.
Y. 94, p. 827, 977; V. 101. p. 2145.
share and to issue
McCall and Davis, reducing the
Interest.
Date.
Companies—
Broadway & 7th Ave con mtge
Bleecker St & Ful Fy first mtge
.
to
85
RAILWAYS
(1)
New York Railways.
electric.
s stock.
Bleecker Street & Fulton Ferry RR.—Horse and
Railways owns 8,536 shares of the company
The New York
ORGANIZATION.—Chartered Dec. 12 1864.
Leased to 23d Street
Railway Co. Jan. 10 1876 for 99 years; lease assigned to Metropolitan 8treet
Ry. (now New York Rys.).
Rental Is Interest on $700,000 bonds. IV* %
Oer annum on stock, taxes and corporate expenses of $600
In Dec. 1917 the N. Y. P. S. Comm. auth. the abandonment of horse-car
operations on the Bleecker St. line, the only remaining horse ear
New York City, over which the last horse car was run July 26 1917.
line in
Maturity.
Stock
See text.
lit M gold, were formerly 7s.]
1,000 4 g J-J
700,000 Jan 1 1950
extended In 1900 as 4s_ntf 1 Guaranty Trust Co.
New York, Trustee.
Of the $900,000 stock outstanding. $853,600 is owned by the N. Y.
STOCK AND BONDS—
-
R&llw&y8
Par.
$100
Interest.
Outstanding.
1,4 % J-J
$900,000
Co.
5.25 miles of track.—V. 90, p. 913;
105. p 72. 496. 1522. 2364^
Broadway & Seventh Avenue.—Change to
ROAD.—Owns
1898. 2450: V.
(2)
V. 104. p. 1700.
underground electric
In^lt. 1919 Job E..Hedges was made receiver for the co.
of the foreclosure suit noted below,
v . 109, p. looo.
ORGANIZATION.—Chartered May 26 1804.
Leased May 13 1890 for
unexpired term of charter,and for any extensions of the same, to Houston
for the purposes
Franchises pernetua!
Pavonia Ferry. now New York Railways.
RENTAL.—Interest on bonds and 10% on
West St. &
The
$2,i00,O00 stock, of which
$1,400,200. besides taxes and corp. expenses.
following committee has been formed to protect the interests
New York
Rys. owns
minority stockholders:
•
UcZmmiJor\^umF^rfutM.
...
T
of the
TT
Wallker, Jr., Harrison
Depositary: Columbia
been called for. V.
Stockholders' Committee.—C. Robt. Adams Joseph
K. Bird, Harry M. Curtis and Geo. C.' Warren.
Trust Co., 60 B'way, N. Y. City.
Deposits have
Ss.-O. W. Beall, V C. Krauthoff;
William St., N. Y. City. Depositary. Cen¬
City. V. 108. p. 1166.
Foreclosure.—The proposition of Receiver Hedges to extend the $350,000
South Ferrv 1st 5s, due April 1 1919, for one year (with interest) was
declined.
On Sept. 30 1919 the Guaranty Trust Co., N. Y., brought suit
in the U. S. DLst. Court to foreclose a mortgage for $1,500,000 made in
1883 by the B'way & 7th Ave, RR. Co.. of which it is now successor trustee.
The bonds secured by this mortgage fell due* June 1 1904 and were then
taken up without cancellation and later, in 1912, when the N. Y. Rys. Co.
made its 4% 1st Real Est. & Ref. Mtge. they were pledged as part security
Sec
tral
Fredk. 8. Burroughs. 56
Union Trust Co., N. Y
86
ELECTRIC
thereunder as shown in V. 94, p. 978.
This foreclosure suit we are informed
brought for the purpose of protecting the right of the 4% bonds as
against the $350,000 mortgage of the South Ferry RE.
This last mort¬
gage is the only underlying security of the N. Y. Rys. Co. which is in default
and the holders of the bonds issued thereunder have been
threatening
foreclosure; hence this counter suit.
V. 109, p. 1366.
Compare V. 109,
was
1273.
p.
STOCK AND BONDS—
Par.
Stock $2,100,000 ($100)1100
1st M (all held by N Y Rys)_.
Interest.
Outstanding.
Maturity.
$2,100,000
See text,
1,500,(XX)
1904
Broadway Surface first guar.. 1,000
5 J-J
1,500,000 July 11924
South Ferry first guaranteed..
1,000
5 A-O
350,000 Apr
1 1919
Bway & 7th Ave cone mtgef
1.000
5 g J-D
8.160.000 Dec
11943
of 1893 for $12.600.000-ntf I Int. at
Guaranty Trust Co.. N. Y.. Trustee.
Of the consolidated mortgage oi 1893 for $12,500,000.
$3,350,000 is rereserved to retire at maturity the other bonds in the table.
The Broadway
Surface 2d mtge. bonds, due In 1905 (all held by the New York
Rys. Co.)
were canceled in 1914.
The consols were guaranteed, principal and inter¬
est
under the terms of the mtge. by
Metrop. Street Ky. Co.. since fore¬
closed.
They cover the road owned in fee and also the right to use the
tracks on Broadway from 15th St. to the Battery; they are also a
direct lien
on
the cable (since changed to
electricity). &c.
Closed issue except for
refunding purposes.
The Bway. & 7th Ave. assumed the
Broadway Surface 1st M. bonds for
$1,500,000 and payment of int. on the 2d M. bonds for $1,000,000 (now
retired) for use of tracks between 15th St. and the ferry.
South Ferry 5«
assumed
10 O-J
5%
under lease.
liOAD.—Comprises' 10.31
miles of track—V. 109,
464.
(3; Christopher <5c Tenth Streets RR.—Electric.
p.
2355;
p.
V.
110,
Oct.
1918, but
were extended to Oct. 1 1923.
See annual reoori of "N. Y. Rys. Co.,"
in V. 107, p. 1745, and V. 107,
p. 1836.
STOCK AND BONDS—
Stock
Par.
on
1
Outstanding.
Maturity.
—
(4> Fort George Sc Eleventh Ave.
RR.—Underground-trolley.
ORGANIZATION.—Incorporated Nov. 19 1898 in the interest
Met. St. Ky. (now N. Y.
Rys.) to build
a
/
of
the
line from 130th St. and 11th Ave.
along Uth Ave to 175th St. and another from
easterly through 145th St. to the Harlem River.
145th St.
and
11th
Ave.
Has constructed 2.06
enox
New York Rys.
V. 67. p. 1109.
Franchise granted Dec. 1889 for 25 yrs.,
with privilege of renewal for another 25
years, 4% gross receipts to be paid
the first 6 years, 6% the second 5 years,
8% the third 5 years and
10% the
of
operation.
The road to become the property of the city
at the termination or franchise (whether
for the same in accordance with
original or renowed)
definitely prescribed rules.
(5)
upon payment
Forty-Second St. Sc. Grand St. Ferry RR.—Horse and electric.
ORGANIZATION.—Chartered
Feb.
16
1863.
Leased to Met. St. ky.
Co., now N. Y. Rys.. from April 6 1893 for duration of charter and renewals
thereof, at 18% on stock, all taxes and corporate expenses.
Stock, $748,000
($100), of which $400,000 is owned by N. Y. Rys.
1st M- 6% bonds (due
1909) of 42d St. Ac Grand St. Ferry RR., formerly deposited under Met. St
Ry. ref. mtge., have been canceled.
<
ROAD.—Owns 5.77 miles of track.—V. 89, p. 993; V. 106,
p. 499.
(6; Sixth Avenue RR.—Underground trolley.
Rentals Unpaid.—In Sept. 1919 Judge
Mayer stated that the Sixth Ave.
line "has continued to be operated without a
single dollar of rental being
paid."
ORGANIZATION.—Leased to Met. St. Ry., now New York Rys..
Feb. 1 1892 for 800 years.
Rental $145,000 per ann..which Is 7
% on stock
besides all taxes.
Stock, $2,000,000; par $100.
An extra dividend of 38%
was paid in Aug. 1901 out of
proceeds of sale of stable property at Sixth
Ave. and 43d St.
Road, Including Lenox Ave. branch (track operated).
12.14 miles,
in Feb. 1899 began operating underground
trolley all the
way to
Battery Place.—V. 88. p. 946; V. 106. p. 500, 822.
(7) Thirty-Fourth Street Crosstown Ry.—Underground electric.
ORGANIZATION.—Chartered March 18 1896. being a consolidation of
the 34th Street Railroad Co. and the 34th Street
Ferry & Eleventh Avenue
Railroad Company.
Entire stock of the 34th Street Crosstown Railway
Co. is owned by the New York Rys.
Operated under agreement dated
Dec. 21 1896, guaranteeing principal and Interest of the
bonds
Interest Payment.—The int. due Oct. 1 1919 on the co.'s
1st M. 5s was
paid when due by order of the court.
,
STOCK AND BONDS—
Date.
Interest.
Outstanding.
First mortgage ($1,000) guarf
1896
Maturity.
$1,000,000
1.000.000 April 1 1996
_
5 A-O
Srin & Int by N Y Rys.ntf(Central Trust62. 549; V. 71, p. 135—
Co., New York. Trustee.
;OAD.—Track owned is 1.66 miles.
V.
charter and
for any extensions of the same.
Rental is 18% on stock, all
taxes, assessments, water rents and charges.
The New York Rys. owns all
of the debentures due 1906. all of the 1st M. bonds
due 1909 and $507,500
of the $600,000 stock, for which It
gave $350 of Its own 1st real est. & ref
4s due July 1 1942 for each $100 of stock.
STOCK AND BONDS—
Stock ($100;
First mortgage
Date.
Interest.
18 Q-F
---------
$250.000
Debenture* ($1,000)
Im,^
1896
1886
_
Outstanding.
$600,000
250.000
150.000
6 J-J
5 J-J
Maturity,
18% per
an.
Jan
11909
Jan
11906
S1.500.000f 1912
5 g J-J
1.500.000 Jan
11962
cMBankers' Trust Co.. N. Y.. Trustee.
Bonds.The impt. & ref. mtge. bonds are
guar. p. & I. by theN. Y. Rys. Co.
and are red. In whole or In
part at the option of the company or for the sink,
fund on any int, date at 107 and int. on
4 weeks' notice.
Sinking fund of
$1,102.85. payable semi-annually, with accretions; when
$400,000 bonds
■hall have been acquired they shall be
canceled.
Tax-exempt in N. Y.
($1,000) gold
guar
ROAD .—Including l4th St" Bleecker St. and
Canal St. branches, track
Rails, 47 to 113 lbs., standard gauge.—V. 99, d. 1367
owned. 4.21 miles.
1675; V. 100, p. 2011, 2168; V. 106.
NINTH AVENUE
,
p.
500.
RR.—An electric road.
ORGANIZATION.—Chartered July 29
1859.
The road was leased to
Rys., now New York Rys., for 99 years from March 12
1892,
Sept. 26 1919 Federal Judge Mayer ordered the receiver of the N. Y.
the Met. St.
but
on
Rys. to return the line to its
owners for independent
operation beginning
are neither given nor
accepted.
V.109, p. 1273.
$100; dividends Q.-J.
ROAD.—Fulton St. to 126th St., total track owned and
operated 15.75
miles.—V. 106, p. 499; V. 109, p. 1080, 1273
Oct.
1
1919.
Transfers
Stock, $800,000;
par,
SECOND AVENUE RR.—Underground electric.
Receivership.—In Sept. 1908 Justice BIschoff In Supreme Court appoluted
George W. Linch separate receiver in suit by Guaranty Trust Co. to ford-
close
consolidated
took
mortgage.
At
possession of the property.
Dlv.
on
bonds
the committee.
stock
occurred
1
1919
int.
not
was
paid when due.
V.
109,
p.
2357.
tective committee (see above).
For details see V. 109, p. 2357.
Supreme Court Justice Whitaker auth.
City Railways Co., the suit against
It and Its predecessor, the Metrop. St. Ry., on payment to the Court of
$548,352 for breaking the lease, amount due on inter-recelvership account,
<bc.
See V. 101. p. 2146.
In May 1917 petitioned the P. S. Comm. to "establish such new regula¬
tions in regard to rates, fares and transfer privileges, or otherwise so to
exercise its authority as to make possible the earning of a more adequate
return upon .the capital invested."
In May 1918 the P. 8. Comm. adjourned the hearings on this applica¬
tion following the decision in the Rochester Fare Case (V. 106, p. 1461),
in which it was held that the Comm. was without
power to grant increases
in fare where the companies were bound by franchise obligations to a
Settlement.—On
,
Dec.
21
1915
the receiver to settle with the New York
maximum fare.
SECURITIES—
21
1853.
Receiver's
certfs___
Debentures
First
cons
of
1889
M gold
Interest.
Par.
Stock $2,500.000 ($100)
Was
formerly
$100
cntff
1,000
[Callable
ntf 1.000
$7,000.0001
1,000
Outstanding.
$1,862,000
Leased to
9 Q-M
6 A-O
at
Maturity.
See text.
See text.
3,140,000
100 and interest.
89.000
Jan
11909
5.631.000
Feb
1 1948
5 J-J
5 g F-A
1898 guar p <fc 1 end._c*tf)Guaranty Trust Co., New York. Trustee.
Of the new first consolidated 5s, $1,369,000 were reserved to retire securi¬
ties of earlier date.
V. 66, p. 900.
For mistake of trustees in exchanging
5h of 1909 for consolidated 5s of 1948. see V. 76, p. 654.
fiscal year ending June 30:
EARNINGS.—For
June 30.
Total
Net (after
Receipts.
$853,015
Taxes).
1917-18
1916-17
751,293
Year—
due
as
June
1908
midnight
Charles E.
was
on
Nov.
Chalmers
defaulted.
12
is
1908
receiver
receiveer
of
int.
on
now
Default
follows:
quently retired; V. 91,
p.
July 1 1908.
1st
(gen.)
Mtge..
Nov. 1
1908 (subse¬
1255); first consols. Aug. 1 1908; debentures,
A committee was formed to
protect the interests of the
first consol. 5% bds.
V. 87. p. 347. 1238. On Oct. 1 1910 Justice
Amend
In Supreme Court authorized receiver
to issue $2,500,000 receiver's certfs.
to be used to retire $1,280,000
gen. consol. 5s and $500,000 receiver's ctfs.
£u® Oct. 1 1910, and for franchise taxes, improvements and equipment.
V. 91,
946.
In Jan. 1911 $500,000 additional certfs. were authorized
for
Improvements and
equipment. V. 92, p.264. As these matured, various
other Issues were made from time
to time.
In Oct. 1913 $3,200,000 1-year
6% receivers certifs. were authorized to
retire $3,140,000 falling due Oct. I
Wi ooc haJu bee.n extended from year to year. V. 105, p. 1310; V.
i
until May 1 inVoon these certfs. was deferred
1918 (V. 106, p. 1578).
October 1918 interest was paid when
p.
'
Int. on Rec'r's
Certfs., &c.
$130,119
Surplus or
Deficit.
def.61,491
def.123,484
Latest Earnings.—For cal. year 1919, gross, $921,552: net, before taxes,
$47,844.
In 1918, gross, $820,747; net, before taxes, $106,726.
ROAD.—Track operated, 23.90 miles.—V. 106, p. 1578; V. 107, p.
1386; V. 109, p. 1462, 2357; V. 110, p. 563.
67.944
Rents.
$191,610
189.073
2,355
THIRD AVENUE RY.—Underground trolley.
ORGANIZATION.—Incorporated In New York on Apr. 20 1910 and on
1 1912 (Court of Appeals having affirmed the decision of the Appellate
Jan.
Division of Supreme Court, which reversed the order of the Public Serv.
Comm., refusing to approve reorganization plan; subsequently approved by
the Comm. on Jan. 17 1912.
V. 94, p. 209; V. 93. p. 1464; V. 92. p. 1637.
1567; V. 91. p. 338) took over the property of the old Third Avenue RR.,
■old at foreclosure on Mar. 1 1910.
V. 93. p. 1535.
Owns all or
practically all of the stock of the following: Union Ry., Dry
Dock East B'way & Battery. 42d St. Manhattanville & St. Nicholas Ave.,
Yonkers RR., Westchester Electric. Southern Boulevard, Kingsbridge Ry.,
New
York City Interborough, New
York Westchester & Connecticut
Traction Co.. Mid-Crosstown Ry. Co., Inc., Belt Line
Ry. Corporation,
Pelham Park & City Island Ry., Bronx Traction Co., Third Ave. Bridge
Oo.".also the $1,487,000 outstanding 2d M. inc. bonds of 42nd St. Man. &
St. NIch. Ave. Ry., the $2,164,000 bonds of the N. Y. City Interborough
Ry. and the $1,750,000 5% bonds of the Belt Line Ry. Corporation. With
the N. Y. Rys.. the Cdney Island & Bklyn. RR. and the Bklyn. Rap. Trans.
control* the Bklyn. & North River RR.. operating over Manhattan
Co
(This
company
ceased operating on Oct. 4 1919-
V. 109,
p.
1461.)
On Jan. 7 1914 the company applied to the P. 8. Comm. for authority to
on account of the cost of acquiring control of the
Belt Line Ry. Corp. (V. 96. p. 946, 1020, 1295), the N. Y. City Interbor¬
Issue $6,650,000 bonds
ough Ry. Co. and the Mid-Crosstown RR., and to pay for certain construc¬
tion work. See V. 98, p. 74. A preliminary order was
procured in Mar. 1914.
auth.
the issue
of $4,000,000 of these bonds against the purchase
by the
3d Ave.
Ry. of certain securities of the N. Y. City Interborough and the
Belt Line Ry. Corp. (see annual report of 3d Ave. iu V. 99, p. 1447).
The
issuance of a further $2,020,500 of bonds was authorized Oct. 8 1915. which
were
issued
and
purchased
by
the
company
as
depreciation fund.
investment
an
for
the
*
.
Valuation.—For appraisal of system in 1918 see V. 106, p. 1462.
Transfers.—On Nov. 1 1912 began transferring to the Second Ave. RR.
by way of the Belt Line Ry. Corp.'s 59th St. line.
The last-named com¬
pany is now part of the Third Ave. Ry. system.
On May 25 1917 applied
to P. S. Comm. for permission to charge 2c. for transfers without further
charge for a re-transfer.
In May 1918 the P. S. Coram, adjourned the hearings on this
petition
following the decision in the Rochester Fare Case (V. 106. p. 1461), In
which it
p.
(8i Twenty-Third Street
Ry.—Underground trolley.
ORGANIZATION.—Chartered June 29 1872.
Leased from Apr. 25 1893
to the Met. St. Ky. Co. (now N. Y.
Rys.) for the unexpired term of the
-
Oct.
Foreclosure Suit.—On Dec. 16 1919 a summons and complaint in a suit
for the foreclosure of receiver's certificates were filed on behalf of the pro¬
Bridge.
Stock ($100)
The
m.
£rejected on Broadway and is operating 1.69 m. of track on all owned between
145th St. by the
Ave. and Broadway.
Stock auth., $3,000,000,
years
1386.
-
First
remaining
V. 107, p.
109, p. 1462.
Anticipating the default in the payment of the Oct. 1 1919 int. on the
$3,140,000 6% receiver's certificates, the following committee was formed,
in July 1919, to protect the interests of the holders.
V. 109, p. 1462, 2357.
Committee for 6% Receiver's Certificates.—Chairman, George E. Warren;
A. A. Jackson, Geo. E. Barstow, Jr., Herman D.~Kountze, J. F. B.
Mitchell; Sec'y., Arthur W. Hutchins, 60 Bway., N. Y. City.
Deposi¬
taries: Columbia Trust Co., N.Y., and the Girard Trust Co., Phila.
In
Dec. 1919 $2,787,000 (about 90%) of these certifs. had been deposited with
•iome
Interest,
($100)__
$100
8 Q-J
$650,000
See text
mortgage extended inf
1.000
4 A-O
210,000 Oct.
1 1923
1898 (V. 67. p. 370)
ntf (Guaranty Trust Co.. New York. Trustee.
ROAD.—Track owned is 4,15 miles.—V. 107, p. 905, 1836.
—
V.
ORGANIZATION.—Chartered Jan.
V. 66. p. 185.
The Central Crosstown RR. was purchased
by the N. Y. Rys. Co. on July
24 1918.
The company's $210,000 1st mtge. bonds are all owned
by the
N. Y.
The bonds originally matured
due.
[Vol. 110.
Met. St. Ry.
ORGANIZATION.—Chartered April 25 1873.
Leased to Central Crosstown
(purchased July 24 1918 by New York Railways at foreclosure)
April 26 1890 for unexpired terra of its charter at 8% on stock, interest on
bonds, taxes, <Stc., and not more than $1,500
per ann. for organization exp.
Railways Co.
RAILWAYS
fares
was
held that the Comm.
where the
V. 106,
Wnnp
cos.
were
was
without power to grant increases in
bound by franchises to
maximum fare.
a
See
p.2650/
Tnrrpn
w
—V
1 f)Q
777
ti
STOCK AND BONDS—
Date.
Interest.
Stock $16,590,000 ($100)
3d Av RR 1st M g
($1.000):tf Jl887
Outstanding.
$16,590,000
5 g J-J
Maturity.
See text
1 1937
5.000.000 July
Int. at Farmers* Loan &
Tr.
Co., N. Y.
First refund M $40,000,000]
1911
4 J-J
21,990,500 Jan
11960
gold (see text)
c«&r»tf] Int.at Central Tr. Co., New York. Trustee.
Adjust lnc mtge $22,530,000/ 1911
5 A-O
22,536,000 Jan
11960
;old (see text)
c*&r*tfllnt. at U. S. Mtge. & Tr. Co., N. Y., Trus.
Stock and bonds all listed on N. Y. Stock Exchange.
,
Bonds.—Coupon bonds of both Issues are in denom. $500 and $1,000,"
registered bonds are for $500 and $1,000 or multiples of $1,000.
Of the
1st ref. bonds, $10,071,500 are reserved for underlying bonds and re¬
mainder for future extensions and Improvements, under proper restrictions.
Of the bonds reported outstanding, $2,520,500 are in the depreciation and
contingency fund at the disposal of the company.
Redeemable on any
In!. date at 105 and int, on 3 mos.' notice.
See V. 94, p. 706.
Int. on
Income bonds is
after Dec. 31
cum.
1912.
Inc. bonds
are
red.
a
aa
whole
but not in part on 1st day of any month on 3 mos.' notice at par and int.
$320,000 have been purchased by the company.
V. 102, p. 887.
Adjust,
inc. mtge. holders to have full voting powers until full int.. including
accum.. shall have been paid for five successive
years^
£ee V. 94. p. 706.
Dividends on Income Bonds.—Au initial dividend of l*£% on the adjust,
inc. bonds was paid April 1 1913 for the 6 mos. end. Dec. 31 1912.
V. 96.
p. 136.
Regular semi-annual divs. of 2H% each were paid to and incl.
Apr. 1917. In Oct. 1917 paid 1K%. Apr. 1918 int. passed. V. 106. p. 930.
None since. V. 107, p. 1194.
Dividends on Stock.—Initial quar. dlv. of 1% was paid Jan. 1 1916.
4,pril. 1%: July
1%; Oct., 1%.
The Jan. 1917 div. whs omitted on ac¬
count of the strike in
1916.
V. 103, p. 2079.
None since.
Mile.
Miles.
22.938
27.188 Bronx Traction Co
Kingsbridge Ry. Co
7.150 N. Y. City Interboro. Ry. Co. 37.334
42d St. M. Sc St. N. Ave. Ry_ 20.291 Southern Boulevard RR
10-067
Dry Dock E. B. & B. RR__ 19.158 Westchester Elec. RR
40.580
ROAD—Operated.
Third Avenue Ry. Oo
—
Belt Line
Ry. Corp
Third Ave. Bridge Oo
♦Mid-Crosstown Ry. Oo
Union Ry. Oo. of N. Y. City
Yonkers
24.596
3.631
5-254
RR
44.003
5.575
N. Y. West. & Conn. Trac._
♦Pelham Park &
City isl. Ry
3.286
96.502
Total
♦Ceased operating Aug. 8 1919.
x
.367.559
-
Suspended operations Aug. 31 1919.
OARS.—Owns 1,134; controls 563; total, 1,697 cars.
REPORT.—Years end. June 30 (1918-19 report in V. 109, p.
1918-19.
1918-19.
1917-18.
$
Total op. rev_ 10,363.447
Total op. exp. 7,741,083
Net op. rev.
10,234,988
7,334,919
2,622,364
818,060
2,900,070
836,098
Oper.income 1,804,304
2,063,972
Taxes
1698.)
1917-18.
$
rev..
156,882
revenue.
1,961,186
158,847
2,222,819
Interest, rents,
&c._.
Dividends
2,681,242
£
2,679,322
720,056
465.503
Interest
Gross
Deficit
....
Ape., 1920. |
ELECTRIC RAILWAYS
OFFICERS.—Pres., S. W. Huff; V.-Pres. & Gen. Mgr., Edward A.
Maher, Jr.; 2d V.-P., Leslie. Sutherland; Sec., W. C. Burrows; Treas.,
A. D. Sage; Aud., A. E. J. Tovey.
Railway.
Kingsbridge
(5)
87
The franchise, the terms of
ORGANIZATION.—Incorp. Jan. 25 1898.
are 4% of gross lotDitmo for the first o years, 6% for the second, 8%
jituaa receipts iui
mo mov 5 .yours,
for the third and 10% thereafter. Is for 25 years, with privilege of renewal
'd !
which
"
DIRECTORS.—Adrian Iselin, Jr., Harry Bronner, George W. Davison,
Frederick H. Shipman, W. Emlen Roosevelt, John W. Platten, S. W. Huff.
Joseph H. Seaman. E. A. Manice, Wm.
A.
Lionel
F.
Straus.
Day,
Edward ,M. Burghard and Alexander S. Webb.—V. 107, p. 1194, 1921,
2004, 2009, 2099, 2478; V. 108, p. 1938; V. 109, p. 777,1180, 1698, 1793.
(1) Dry Dock East Broadway & Battery RR.
Receivership Terminated.—On Nov. 23 1917 the receivership oegun on
1 1908 was terminated by a decree of the U. S. Dist. Court for the
Southern District of N. Y. V. 106, p. 715.
Feb.
ORGANIZATION.—Incorporated Dec. 8 1863.
Third Ave. Ry. owns
51,198.000 of the stock.
In Jan. 1906 began operating Glrand St. line by
electricity.
On Oct. 1 191.1 changed from horse cars to storage-battery
cars on Avenue B and Canal St. lines.
V. 93, p. 1105.
On Oct. 25 1912
received permission from P. S. Commission to electrify road on Canal St.
V. 95, p. 1206.
i
Refunding Plan.—The plan dated July 9 1917 (V. 105, p. 497) for refund¬
ing the entire debt of the company, except the general mtge. bonds, was
declared operative in Feb. 1918.
Holders of deposit receipts for certfs of
indebtedness received upon presentation thereof to the Union Trust Co.
of New York series C registered refunding bonds (convertible into coupon
bonds) in the ratio of 859 10 series C bonds for each §100 par value
of certfs. of indebtedness.
V. 106, p. 715.
All the series "B" bonds and
$650,839 of the series "C" bonds are owned by the Third Ave. Railway
Co.
V. 107, p. 2004.
STOCK AND BONDS—
Par.
Interest.
Outstanding.
Maturity
Stock$1,200.000
$100
6 Q-F
$1,200,000
(
See text
General mtge gold 1892.-ntfl
1,000
5gJ-D
>
9.50,000
Dec 1 1932
\Farmers' Loan & Trust Co.. Trustee.
Gen refund mtge series B
4 J-J
528,000 Jan. 1 1960
Gen refund mtge ser C._.c&r S100&C
Text
1,300,200 Jan. 11960
Bonds.—Of the general ref. mtge. bonds, $1,500,000 are ser A 5% bonds,
of which $950,000 are reserved to retire the general M. 5s, due 1932. and
$550,000 may be issued to acquire additional property and for betterments,
but only upon the joint consent of the holders of at least 75% oif the aggre¬
gate par value of series B and series C bonds then outstanding, or after
due notice and failure of holders of more than 25% of series B and C to
object thereto.
Series A bonds are a prior lien and preferred as to prin. &
int.
Series B bonds are a prior lien over, and preferred both as to prin. &
int. over, series C bonds.
Series C bonds to bear int. to and incl. July 1
1925 at such non-cumlative rate not exceeding 6% per ann. as earnings per¬
mit.
On and after Jan. 1 1926 are to bear int. at the fixed rate of 4%
with an additional 2% if earned. V. 105, p. 497; V. 106, p. 715.
.
under certain conditi
ditions for another 25 years.
ORGANIZATION.—Incorporated In New York on March 24 1902, in
Rapid Transit Co., to build an extensive
the interest of the Interborough
system of feeders for the subway and elevated lines in the Bronx, and to
afford street railway connections across the Harlem River bridges
Application for Authority to Eliminate Transfers.—V. 109,
STOCK AND BONDS—
ROAD.—37.334 mile3 of track.
(7)'
V. 94,
p.
497, 1522; V. 106,
p.
715, V. 107
p.
Belt Line Railway Corporation.—Storage-battery and electric.
held
Third
by
ine
Avenue
permanently by storage-battery power.
ORGANIZATION.—Chartered
V. 91.
On Nov. 7 1913 the P. S. Comm. granted
1766.
co.
abandon
v.
107,
the portion of
2474.
p.
its East Side line from 15th St. to the Battery.
■
STOCK AND BONDS—
Interest.
Date.
Outstanding.
are
5%
See text
Jan. 1 1943
tf/Central Trust Co., N. Y., trustee.
guaranteed by Third Avenue Ry.
ROAD.—Owns road
on
red)
1913
59th St., East and West, with belt line on East
and West Sides to South Ferry—24.596 miles of track.
Horse
lines.
cars were
All elec.on 59th St.
replaced by storage battery cars on East and West Side belt
Owns 79 storage battery cars.—Y. 99, p. 1450; V. 107, p. 2474.
Mid-Crosstown Railway Co.—Storage-battery
Acquired by the Third Ave. Ry. late in 1913
(81
•
Maturity.
$734,000
$750.000..
cars.
A
Discontinued.—On Aug. 8 1919 the co. discontinued the running of cars,
V. 109,
due to its inability "to borrow any more money."
p.
578.
1895 control
Judgments.—In Nov. 1919 judgments against the company, aggregating
$231,188, had been entered in the Supreme Court by the Third Avenue Ry.
and certain of its subsidiaries.
V. 109, p. 1793.
29
In Nov.
the joint application of this
000 and for the issuance of $253,000 stock to the Third Ave. Ry. In payment
of advances for the purchase of storage-battery cars.
V. 97. p. 1356.
Abandonment.—The co. has applied to the P. S. Comm. for auth. to
purchased by the Third Avenue RR.
See V. 61, p. 926.
Dec. 1899 began to use underground electric system from Fort Lee
Ferry to Boulevard, then to Fifty-ninth Street.
$2,471,300 stock and all the $1,487,000 outstanding 2d mtge. incomes are
owned by Third Ave. Ry.; the remaining $113,000 2d mtge. bonds have
been retired.
Aug
1878.
p.
14
and the Third Ave. Ry. to Increase the auth. stock from $600,000 to $750,-
Ry.
1910 Pub. Serv. Comm. granted authority to operate 110th St.
In Dec.
over
Entire stock and bonds owned by Third Ave. Ry.
95.
Bonds
Lacombe signed an order discharging the receiver
is being paid on 2d mtge. 6s—all of which are
1912 to take
24
Doc.
on
East River RR,, sold at foreclosure on Nov.
1912 to Edward Cornell (V. 95, p. 1331, 1402; V. 104, p. 1701).
In March
1913 was taken over by Third Ave. Ry.
V. 96, p. 864, 948.
In Mar. 1913 P. S. Comm. auth the making of a mtge. for $4,000,000
1st M. 5s and the issuance of $1,750,000 bonds thereunder at not less than
1192.
On Sept. 11 1912 Judge
V. 95. p. 679
Nothing
Three-cent transfers are exchanged at
Elevated RR.
279; V. 95, p. 544, 1274; V. 109, p. 1366.
ORGANIZATION.—Incorp. at Albany
the Central Park North &
1st mtge $4,000,000 gold
as a whole at 105--
105,
1366.
certain points with the subway system and the Manhattan
—V. 93, p. 1191;
8tock
(2) Forty-Second Street Manhattanville & St. Nicholas Avenue
Ry.—A horse road, but Nov. 11 1900 changed to electricity.
Operates the
Third Avenue Bridge Co.
p.
Interest.
Date.
Outstanding.
Maturity.
Stock. $5,000,000 ($100)
$5,000,000
First mortgage, $5,000,000,1
1905
4 g M-N
2,164.000 May 1 1928
sinking fund, gold
tf/U. S. Mort. & TrustOo.. N. Y.. trustee.
Bonds.—Of remaining 1st M. oouds, $87,000 are in sinking fund and
$836,000 are in treasury.
REPORT.—See above.
INDEX.—V. 103. p. 239; V.
"
New York City Interborough Ry.—A trolley road.
(6)
The Third Ave. Ry. owns $4,529,400 stock and $2,164,000 1st M. bonds.
ROAD.—19.158 miles of track.
p.
At the end of the term the
city acquires the property, paying for it in accordance with definitely
prescribed rules for fixing its value.
V. 69. p. 1248.
Work on this line
was begun In July
1901 and completed In 1902.
Runs from Amsterdam
Ave. and 162d St. to Broadway and 225th St., making 7.15 miles addi¬
tional.
Entire $8,600 stock owned by the Third Avenue Ry., which com¬
pany also operates the property.
!
was
In
1912 Pub. Serv. Comm. granted auth. to extend for 30 years
On June 21
to Mar,
»
1 1910.
1 1940 at 5% the 1st M. 6s matured Mar.
Interest.
Par.
STOCK AND BONDS—
V. 94,
Outstanding.
$2.500.900
Stock authorized $2.500.000$ 100
p.
1695-
Maturity
First mortgage gold 1880--tfl 1,000
5 M-S
1,200,000 Mar 1 1940
Red at 110 any Int date.
Interest at Cent. Trust Co., N. Y. City .True
ORGANIZATION.—Incorp. In New York
1703, 2119.
In Feb.
REPORT—See above.—V. 94, p.
(3)
,
1695; V. 95.
p.
679; V. 107.
p.
April 1914, in payment therefor, the Third Ave. Ry. Co. Issued $180,000 of
(V. 99. p
1447).
Stock, authorized and outstanding, $150,000 ($100).
Mid-Crosstown Co.
Par.
AND BONDS
STOCK
Interest.
Outstanding
Lastdiv.,&c.
Stock ($100) all owned by 3d Ave.
First mortgage 1892 gold. _tfj 1.000
$2,000,000
5 g F-A
2.000,000 Aug 1 1942
{Int. payable at Central Tr. Co.. N. Y. City
Guaranteed Loans—
Westchester
gold
gold
1st M gu
il $1,000
og J-J
500.000
July 1943
Int. at Bankers Tr. Co
New York. Trus.
&
p
1893._
Southern
Boulevard
RR
5
1st!
g
J-J
250,000
July 1 1946
__tf/Central Trust Co., New York, Trustee.
1895
Yonkers RR first mortgage..
Seebelow
____
Bronx
Traction
Co.—A
trolley road.
ORGANIZATION.—Incorporated on May 12 1904. and Is a consolida¬
See V. 78. p. 2333.
Entire stock owned
by Union Ry.
tion of several small companies.
STOCK AND BONDS—
Stock $585,100
Date.
Interest.
Outstanding.
Maturity.
$.58,100
($100)
ROAD.—Owns22.938 miles of track, operated by Union Ry.. from Bronx
River by West Farms Road to Westchester
Village;
from Bronx River by
Westchester Turnpike to Westchester Village; from Main St..
Village, to Eastern Boulevard, and from West Farms Road to
Bleecker St.
Standard gauge;
109-lb. rails.
Southern
Westchester
(4) Yonkers Railroad.—A trolley road.
In July 1912 Supreme Court of Westchester County made an order dis¬
charging the receiver.
V. 95, p. 112.
Operating Agreement with Union Ry.—On May 25 1911 Pub. Serv. Comm
approved the terms of an agreement whereby cars of the Yonkers RR
would run over certain tracks of the Uuon Ry. to the terminals of the New
York City subway and elevated linos.
This reduced from 15 to 10 cents the
fare from Yonkers to lower Manhattan, restoring the old rate as before the
V 92, o. 1245 1438
breaking up of the Metropolitan Street Ry. svstem.
Fares.—In Nov. 1918 the Yonkers Board of Aldermen denied the co.
auth. to establish a zone system whereby 2 zones would be created in the
city and another beyond the city line, making a 15-cent fare possible.
V. 107. p. 2009.
In March 1919 the Yonkers Board of Aldermen allowed the co. to increase
fares by 5 cents
outside the city limits of Yonkers.
On May 26 1919 Judge
Morshauser in the N. Y. Supreme Court at White Plains, N. Y;, dismissed
the suit of a taxpayer for a mandatory injunction to restrain the co. from
collecting
a
10-cent fare.
V. 108, p. 1276, 1938, 2242.
ORGANIZATION.—The Union
p.
& 1. V. 67, p. 635.
Rv. guarantees the $1.000.000 bonds
$992,500 stock owned by Third Ave. System.
Interest.
Outstanding.
Maturity.
$1,000,000
5 A-0
1.000.000 April 1 1946
.ntffBankers Trust Co., New York. Trustee.
ROAD.—Owns 44.003 miles of track.—V. 107, p. 1103 , 2009.
STOCK AND BONDS—
Date.
Stock $1,000,000 ($100)
mtge gold
guaranteed
First
$1.000.000T 1896
(9) Peiham Park & Cit.v
Operation
V.
j
578, 677, 1793.
Island Rv. Co.. Inc.
Suspended.—On Aug.
8
1919 the co. suspended operations.
109, p. 677.
ORGANIZATION, &c.—Incorp. May 10 1913 In N. Y. and on July 9
1914 the Third Ave, Ry. acquired control.
Auth. common stock, $125,000;
outstanding, $45,000.
Length of road, 3.286 miles, from Belden Point,
Operation by
610; V. 109, p. 677.
City Island, to Eastern Boulevard, or New Roehelle Road.
storage battery was begun Aug. 18
1914.—V. 99,
p.
FEDERAL LiGHT & TRACTION ~CO
1916 Westinghouse Elec. <fc Mfg. Co. interests and Samuel Insull
In Oct
of Chicago acquired substantial holdings
of the company.
V. 103, p. 1687.
in the stock and other securities
I
r
ORGANIZATION.—incorporated in 1910 in New York.
Holds
a con¬
trolling Interest in the following companies operating gas, electric lighting,
les mentioned in titles.
ad
steam heat, ice and traction properties located in citle
Albuquerque (N. M.) Gas & El. Co. Las Vegas (N. M.) Lt. & Power Co.
Ry. & Lt. Corp.,
Ark.
Springs Street Ry. Co.
Hot Springs Water Co.
Central Arkansas
Hot Springs.
Hot
Co.
Consumers' Gas Co.
Citizens'
Electric
.
Dealing (N. M.) Ice & Elec. Co.
.
Grays Harbor Ry. & Lt. Co., Aber¬
deen. Wash. (V
86, p. 420).
Hobart (Okla.) Electric Co.
Las Vegas (N. M.j TransP
Rawlins (WyO.) Elec. Lt. & Fuel Co.
(Wyo.) County Elec. Go.
Springfield (Mo.) Ry. & Light Co.
Springfield (Mo.) Gas & Elec. Co,
Springfield (Mo.) Traction Co.
Trinidad (Ool.)Kl.Transru..Ry.<&Ga3
Tucson (Ariz.)
Gas, Elec. Light &
Sheridan
Power Co.
Tucson (Ariz.)
Rapid Transit Co.
....
—including Bronx Traction Westchester Eloc. RR, and Southern
Boulevard RR.
operates 170.093 miles of track
REPORT.—See above.—V. 94. p. 489, 1318; V. 99. p. 50. 1971.
ROAD
(a)
ROAD.—Track operated, 5.254 miles.—V. 109, p.
1192.
Union Railway Co. of New York City.—A trolley road,
ORGANIZATION.—Operates from 129th St. and Third Ave. through
the Borough of the Bronx, and with subsidiary lines continuing thence to
and through Mt. Vernon.
Owns $58,100 (all the outstanding stock) of the Bronx Traction Co.
New Franchises.—On July 2 1914 the Board of Estimate and Apportion
ment granted the company a franchise to cross the Willis Ave. bridge over
the Harlem River to 125th St., and along 125th St. to the Fort Lee Ferry
The P. 8. Comm. in approving the franchise exempted the company from
exchanging transfers with the Third Ave. and 42d St. M & St. N. Ave
companies at intersecting points in said franchise. V. 99. p. 50.
In 1917
was granted a franchise for a line to the Dyckman Street Ferry, and in
Mar. 1918 received authority for its construction. See V. 106. p. 1231.
under "Rapid Transit in New York."
Up to Mar. 1 1919 construction
had not been begun.
See plan of reorganization in V. 93, p. 1790.
Comm. .authorized the Third Ave. Ry. to acquire
of the Mld-Crosstown Ry. Co., Inc.. and In
1914 the P. S
bonds, and gave its 4% promissory note for $250,000. payable In three equal
annual installments, and canceled claims amounting to $34,442 against the
6% as earned See text
Jan 1 1915
tf\Dent. Trust Co.; N. Y., Trustee.
ROAD.—20.291 miles of track.
Also operates the 3.631 miles of Third
Avenue Bridge Co.'s track.
mtge Income 6s
$1,600,000—
Feb. 14 1912, In the inter¬
and hold the $150,000 stock
1885/ 1,000
Second
on
reorganization committee, as successor to the 2Sth & 29th Sts.
Crosstown RR.. sold at foreclosure on Jan. 4 1912 (V. 94. p, 69; V. 104, p<
est of the
bonds of all of the above
and $1,873,500 1st lien
bonds of the Central Arkansas Ry. & Lt. Corp.; $750,000
preferred stock
and $1,899,500 bonds of the Springfield Ry. & Lt. Co. and $100 par value
of bonds and $86,050 stock of Tucson Rap. Tr., have been acquired.
See
description of properties in V. 90, p. 1490.
Tucson Rapid Transit Co.—See * New Franchise" la V. 99, p. 1912.
In the early part of 1913 sold the Montrose (Colo.) Elec. Lt.& Power Co.
In Dec. 1913 $725,000 10-year gold notes were issued (auth., $10,000,000,
see below)
carrying an equal amount of common stock option warrants
entitling holders to obtain such stock at par any time prior to Dec. 1 1923.
See also V. 97. p. 1583, 1822.
In June 1914 a further $715,000 of these
The entire capital stock and all the underlying
;
19 companies, except the $1,200,000 pref. stock
notes were issued at 6%.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
$4.750.000,;
Common $5,500,000 ($100)-.
2.500.000'
See text
($100)
Q-M
4.059,000 Mar 1 1942
First lien s f M $50,000,000)
1912
5 M-S
gold ($500& $1,000)
c*(Columbia Trust Co.. N. V., trustee.
Convertible debentures $1,-1 1912
0 M-S
1,500,000 Mar 1 1922
500.000
/Brooklyn Tr. Co.. Brooklyn, N. Y., trustee.
Pref $5,500,000 6% cum
10-year gold notes.
$l6.000.-f 1913
000
1913
715.000 Dec ,1
0%
7%
725.000 Dec
IColumbta Trust Co., N. Y..
Bonds.—Of the remaining 1st lien sink. fd.
for conversion of debs,
1923
1 1923
trustee.
bonds, $1,666,667 are reserved
and $43,379,333 are for impts.. betterments and ac¬
quisitions under conservative restrictions. $500,000 retired by sk. fd.
Red.
as a whole but not in part at 102 and Int.
Annual sk. fd. of 1 Hi % of bonds
out Mar. 1 1913 to Mar. 1 1923: 2% 1923 to 1933; 2H% 1933 to maturity.
Payments for redemption of bonds if purchasable at or below 102 and int.,
otherwise to be invested in new property subj. to the mtge. See V. 94 p.910.
559.
Debentures are conv. at 90 into 1st lien bonds after Mar. 1 1913, and
more than 5 days before debentures have been called at par, provided consol.
net earnings, excl. Springfield, exceed 2)4 times int. on 1st M. out and
Issuable against conversion.
Red. as a whole but not in part on any int.
date at par and int. on 6 weeks' notice, and. if presented for exchange for
first lien bonds, may be taken up at 101 and int. in cash.
Conv. up to and
Incl. 6tb day preceding date fixed for redemption.
V. 90, p. 284,
The
notes of 1913 are redeemable at 105 an 30 days' notice until June 1 1921;
thereafter at par and Int.
V. 97. p. 1822. 1583.
Dividends.—On pref.—1H%—paid quar. from Sept. 1910 to and includ,
ing Sept. 1914. Div. payments since have been deferred (V. 99, p. 1673)
EARNINGS.—Of controlled companies after
elimination of lnter-com
earnings (excluding depreciation).
7
Cent.Ark.Ry. Spr.Ry. Balance,
Gross
Net
Int. &
A Lt. Pf.Dtv.
Div.
Survlus.
Yedrs— Earnings.
Earnings.
Disc't.
1919
$3,897,518 $1,235,780 $680,811 (7%)$84,000 $47,568 $423,401
39,939 265,008
1918
3,497,231
1,052,309
663,262 (7%) 84,000
1917__
2,867,310
856,846
594,454 (7%) 84,000
39,290 139,102
ROAD.—Controlled properties operate 74 miles of track.
OFFICERS.—Pres., Edwin N. Sanderson; V.-P., Francis Blossom Craig
Colgate; Treas. & Sec., J. Dunhill; Asst. Treas., Richmond Talbot.—V. 104,
p. 1387, 2452; V. 106, p. 1900; V. 107, p. 696, 1672, 1747; V. 108, p. 74,
1390; V. 110, p. 1088.
pany
Calendar
-
(1) Central Arkansas Railway & Light Corporation.
Federal Light A Traction Co.. which
entire common stock.
On Mar. 1 1913 was taken over by
owns
ORGANIZATION.—Incorp. Feb. 19 1913 in Virginia, taking
over
the
Ry. and other properties.
Through its constituent com¬
panies does entire water, street railway, gas, electric light and power busi¬
ness in Hot Springs, Ark., and vicinity.
Has contract with city of Hot
Springs for street lighting.
Franchises.—Street railway expiree in 1954, and exclusive as to streets
Hot Springs St.
Water, exclusive and expires Nov. 1931.
occupied until that date.
Elec¬
tric light and power, expiree 1933.
Artificial gas, unlimited as to time.
Also
has
natural
gas
franchise, expiring in 1931,
Should supply of
natural gas fail, company will revert to artificial gas franchise
Dec. 1917 the Hot Springs Street Ry. Co. dis¬
continued the sale of 6 tickets for 25 cents and books of 25 tickets for $1
Fare
Increase.—In
and adopted a straight 5-cent fare.
filed a tariff with the Arkansas
co.
effective
V. 106, p. 1036. In Sept. 1919 the same
Corp. Comm. increasing fares to 6 cents,
Sept. 23 1919. V. 109. p. 981.
Decrease fn Stock.—In May 1917,
shareholders voted to decrease the auth.
capital stock from $7,000,000 com. and
common and $1,500,000 7% pref. stock.
Date.
STOCK AND BONDS—
Common $2,500.000
$3,500,000 pref. to $2,500,000
Interest.
—
Outstanding.
$2,500,000
Maturity.
$1,500.000
7 Q-M
1,200.000 Mar'20~1~X
First lien $7,000,900 (11.000.J 1913
5 g M-S
1,873,500 Mar 1 1928
$500 and $100) gold-.-.C'llnt. at Columbia Trust Co., N. Y., trustee.
Preferred stock Is redeemable at 110 and accrued div
Dividends are guar,
by Federal Lt. A Trac. Co., by endorsement.
Additional pref. stock may
be issued under conservative restrictions.
V. 96, p. 715.
bonds.—Additional bonds may be Issued for 80% of cost of additions,
extens. and impts. when net earnings are double the int. charges on bonds
out, incl. those proposed to be issued.
Sink. fund, which began Jan. 1915.
wlJI
retire at least 20% of entire issue by maturity. $290,500 in sinking
fund.
AH bonds subject to call on any interest date at 102.
Dividends.—First div. on pref.—1 *4 %—paid June 2 1913; 1 % % has been
paid quar. since to and incf. March 1920.
EARNINGS.—Combined earnings of constituent cos. for calendar year
1919, gross, $665,618: in 1918, gross, $555,179; in 1917, gross, $545,456 in
1916, gross, $494,109.
ROAD.—Operates 13 miles of track; 60-lb. rails.
36 passenger cars.
Pref
cum
-
OFFICERS.—Pres., E. N. Sanderson; V.-P. A Treas., j. Dunhill; Sec.,
E. K. H. D'Aeth.—V. 96, p. 789; V. 104. p. 2451.
{%)
Springfield (Mo.)
Railway & Light Co.
Fed. Light A Trac. Co.
As of Mar. 1 1911 entire stock was acquired by
ORGANIZATION.—Incorp. In Maine In Nov. 1905.
Owns entire
capital stocks of the Springfield Traction Co. and the Springfield Gas A Elec¬
tric Co.
The Kickapoo Transit Co. Is also part of system.
Electric Light
franchise perpetual; gas franchise expires in 1929; street railway franchise
in 1944 and steam heating franchise in 1936.
Does entire traction, gas.
electric light and power business of city.
Also does steam heating.
In
1915 entered into a new 5-year street-lighting contract with city.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity
$1,100,000
750,000 Apr '20, 1*4
1st Hen ratge $7,000,000 gold f 1911
1,899,500 May 1 1926
($500 A $1.00(1) sink fd-.c*[Guaranty Trust
o., N. Y., trustee.
3-year gold notes
1918
7%
C
287,000
Feb. 1921
Preferred stock is pref. as to dividends and assets and is red. at 115 and
Passengers carried in
7 Q-J
5 g M-N
Preferred $2,000,000 cum.
accrued dividend.
Bonds.—$4,656,000 1st lien bonds are reserved for additions and impts.
Annual cumulative slaking fund
began Mar. 1 1913 and provides for 25% of all bonds issued.
$444,500 in
at 80% of cost under certain restrictions.
Sub. to call as a whole or for sink, fund at 102 and int. on any
sink. fd.
int. day.
Int. is pay. in New York, Boston or Chicago.
div.—1*4%—on pref
stock paid
Dividends.—Initial
V. 92, p.
April 1
1566.
1915
rate quar. since.
EARNINGS.—For
Calendar Years—
12 months ending Dec. 31:
Gross.
Net, aft Tax..
$939,293
781,470
1919..-
1918
Int., Ac.
240,312
Bal., Surp.
$128,929
129,331
$330,477
$201,548
110.981
ROAD.—Operates 23 miles of track; 49 pass, cars and 11 work cars; 60,
Power station capacity, 3,250 k.w
Also has contract
purchase of 2,875 k.w.—V. 105, p. 2367;
V. 107, p. 1748.
70 & 80-lb. T rails.
with Ozark Power A Water Co. for
\
(3) Trinidad (Colo.) Electric Transmission, Ry. & Gas Co.
Federal Light A Traction Co. owns ail the $3,000,300 outstanding
Aug. 7 1911 as successor
to the Colo. Ry.. Lt. A Pow. Co., sold at foreclosure Aug. 2 1911.
V. 93.
(1)
PENNSYLVANIA-OHIO
on
—
_
--
~
--
1914 steps were taken to consolidate as
properties as possible to reduce expenses, facilitate operation
conditions for refinancing.
The co. then known as the Ma¬
honing A Shenango Ry. A Lt. Co. absorbed the Sharon A New Castle
Railways Co., Youngston-Sharon Ry. A Lt. Co., Sharon A Wheatland St.
Ry., Valley St. Ry. and Wheatland St. Ry.
The Youngston A Sharon
St. Ry. absorbed the Youngstown Consol. Gas A El. Co.
In 1915 the
properties of the Republic Construe. Co. were transferred to the co.
In
1917 acquired the Mahoning County Light Co., oper. a steam-heating plant
in Youngstown.
In Aug.*1917 co. absorbed the Mah. Valley Ry., the Mah.
Val. So. East Ry., the Poland St. Ry., the Youngstown Park A Falls St.
Ry. and the Youngstown A Sharon St. Ry.
V. 104, p. 2118.
The Sharpsville Elec, Lt. Co. was merged with the Shenango Valley Elec. Light Co.
and a number of other borough companies around Sharon.
In 1918 the
Youngstown A Niles Ry. Co. was absorbed.
Guarantees prin. and int.
by endorsement the Republic Ry. A Lt. Co. 3-yr. 7% conv. notes due Jan.
Merger of Subsidiaries.—During
many of the
and improve
15
1923.
Franchises.—Practically all the Pennsylvania franchises are
Pacific Coal Co. with $60,000 worth of power annually.
Also has a contract with the Colorado Fuel A Iron Co.
V. 99,
p.
1912
ROAD.—Owns and operates 19.4 miles.
Power plant capacity. 16,250
k.v.a.
Rail, 60-lb. T: standard gauge.—V. 93. p. 409: V. 99. p. 1912.
REPUBLIC RAILWAY & LIGHT CO.—A holding company.
ORGANIZATION.—Incorp. in New Jersey on June 27 1*911.
This
practically all of the common stock of the Pennsylvania-Ohio
Elee. Co., formerly the Mahoning A Shenango Ry. A Light Co., and through
it supplies electric light, power and gas to Youngstoswn and other communities in the Mahoning and Shenango River valleys, in Eastern Ohio and West¬
ern Pennsylvania, midway between Pittsburgh and Cleveland.
The Penn¬
sylvania-Ohio Electric Co. also owns urban and interurban railway lines in
the same locality.
Also controls the Republic Engineers, Inc.
In Jan. 1920 the co. issued $1,444,000 3-yr. 7% conv. notes to provide
for the retirement of a like amount of 2-yr. 6% notes due Jan. 15 1920.
company owns
power
franchises in 1937 and 1942.
Operation
Pf 6% cum
($1,000)
notes
g quar
Q-J 15
Outstanding.
$6,206,000
5,191.400
Maturity.
See text
Apr'20, l H
$1,444,000/ 1920
7 g J-J 15
1,444.000 Jan 15 1923
p A i__ctff\Int. at First Trust A Sav. Co., Cleve., trust.
Stock —Common stock is held in voting trust
Notes.—The 3-year notes are convertible at option of holder into Penn¬
sylvania-Ohio Elec, Co. 7% cum. pref. stock, par for par.
$47,000 have
been converted to date.
Are guaranteed, principal and interest, by en¬
dorsement
of
Pennsylvania^Ohio Electric Co. and are secured by de¬
posit of Pennsylvania-Ohio Electric Co. 7% cum. pref. stock equal in
par value to the amount of notes outstanding.
As notes are called an equal
amount of pref. stock will be released.
Notes are also secured bv a deposit
of all the outstanding com. stock of the Pennsvlvania-Ohio Elec. Co.
Sink. Fund.—Provides for the retirement of $30,150 of these notes each
month beginning April 1 1920.
Are red. on 30 days' notice at 10014 and
int.
Pennsylvania 4-mill tax refunded; also further Ohio income tax not
exceeding 4% upon the int.
V: 110, p. 168.
Dividends.—On pref. 1H% quar. has been paid since organization.
Quarterly divs. on com. of 1 %, paid from Jan. 1917 to and incl. July 1918.
Oct. 1918 dividend omitted.
V. 107, p. 1193.
REPORT.—Consolidated income account of subsidiary cos. (inter-co.
items eliminated) (1918 report in V. 108, p. 1609):
Calendar
Gross
Net (after
Other
Interest, Pref.Div.
Balance
Earnings.
Taxes).
Income.
Ar.
(6%).
for Com
W«
1918
...
f6c'?£9'!?]2 Fv?!7.644 115,581 $1,368,071 $311,484 sur.$96,958
$258,869
1,411,128
5,548.046
16
Cost.—Effective Jan.
at
1919., the city of Youngstown
street railway franchise for 25 years, which calls for service7% return on an agreed valuation.
The fare fixed by this
franchise is 5 cents with a 1-cent charge for transfers, provision being made
granted the
at-cost and
co. a
a
higher and lower schedules, these being based on the condition of a stab¬
V. 108. p. 268. 378; V. 109, p. 72. 173.
Com¬
for
ilizing fund of $100,000.
V. 107, p. 1004.
In July 1919 similar franchises for 25 years were
granted by the cities of East Youngstown and Struthers. Ohio.
In Feb.
1920 the co. obtained new franchises in Niles and Warren under which
fares were raised from 5 to 10 cents with tickets at 7 for 50 cents.
These
rates are to continue for 3 years after which time rates will be decided on a
9service-at-cost basis.
V. 110, p. 562; V. 109. p. 173.
A similar franchise
has been granted by Girard, Ohio.
pare
Fares.—Under the above service-at-cost plan fares
in Youngstown were
7 cents, with a 1-cent charge for transfers, effective
V. 109. p. 578.
On Jan. 1 1920 fares in Youngstown were
increased from 7 to 8 cents, with a 1-cent transfer charge.
V. 110. p. 262.
On Aug. 28 1919 fares between Youngstown and Girard were increased from
5 to 8 cents and on Jan. 1 1920 to 9 cents.
In March 1920 was auth. by the
Penna. P. U. Comm. to increase fares in New Castle from 6 to 7 cents.
increased from 6 to
Aug. 1 1919.
V.
110, p. 1188.
,
,
„
part of 1918 the co. brought out $550,000 1st A Consol. M.
"B," bearing 6% int., and in 1919 $217,000 additional.
268.
In the latter
bonds
series
V. 108, p.
Outstanding.
Maturity
$10,628,000
5,454 200
5 g M-N
11,290,000 Nov 1 1920
$20,000,000 gold
c*r*.tf [Guaranty Trust Co., New York, trustee
Series "B"
1915
6%
767,000 Nov 1 1920
Pa A M V 1st and refunding!
1902
5 g M-N
1.559,000 May 1 1922
mortgage $2,750,000 goldilnt. at Harris. Forbes A Co., New York.
($1,000)
c*.tf (
U. S. Mtge. A Trust Co., N. Y.,trustee.
New Castle Traction 1st mtgef 1897
5 g M-N
500,000 May 1 1927
$500,000 gold ($l,000).c*tf[Int. at Union Trust Co., Pittsburgh, trustee.
N C Elec Co 1st M $200.000( 1897
5 g M-S
200.000 Mar 1 1927
gold
tf [Int. at Union Trust Co.. Pittsburgh, trustee.
Y-S Ry A Lt 1st M S2.500.-f 1900
5 g J-J
1.843.000
Jan 1 1931
000 ($1,000) gold s f._c*.tf lint, at New York Trust Co.. N. Y., trustee.
Shar A New Castle 1st mtgef 1901
5 g J-J
227.000 July 1 1931
$500,000 gold ($1,000) s
Interest at New York Trust Co., New York,
guar, prin A int
_c*.tf [
trustee.
Mahoning
Valley S E first f 1903
5 J-J
67,000 July 1 1923
mortgage
tf (Int. at Lawrence Savings A Trust Co., New
STOCK AND
Date.
BONDS—
Common $11,000,000
Interest.
($100)
Q-M
Pref 7% cum $10,000,000 ($100)
Mah A S R A L 1st A cons M f 1915
-
I
Cftstl©
$200,000 f 1913
5 J-D
* 170,000 June 1 1923
ntf 1 Union Trust Co. of Pittsburgh, trustee.
Mahoning County Light Co__
94,000
($1,000) guar d A i
Slock.—Practically the entire com. stock is owned by the Republic Rail¬
A Light Co.
The pref. stock has full voting power.
Free of Penn. and
Callable as a whole at 110 A divs.
$1,444.000 pref. stock
way
Ohio State tax.
is
pledged under the Republic Ry. A Lt. 3-yr. 7% conv. notes due Jan. 15
1.258,504
311,484
def.43,280
option of the holder.
$4,827,000 are reserved to
1923 into which said notes are convertible at the
Bonds.—Of the $20,000,000 1st and cons. 5s,
underlying liens and remainder for 80% of cost of additions, impts.,
Ac., under conservative restrictions.
Denom., c*, $1,000 and $500; r*,
$1,000 and higher.
Callable as whole, but not in part, at 101 and int. on
60 days' notice.
Tax-exempt in Pa.
V. 101, p. 1713.
Series "B" bear
6% interest.
V. 108, p. 268.
Of the Pennsylvania & Mahoning Valley
Ry. bonds, $750,000 are reserved to retire prior liens; a sinking fund of
$50,000 per annum began Nov. 30 1911.
Bonds purchased for sinking fund
are canceled,
$441,000 have been purchased.
The YToungstown-Sharon
1st mtge. bonds can be called at 115 and int. on any int. date; $597,000 have
been acquired by sink. fund.
For lien covered by these bonds, see "Street
Railway" Section of June 24 1905.
$123,000 Sharon & New Castle bonds
have been acquired by sinking fund.
For lien of these bonds see "Street
Railway" Section of June 24 1905.
The Poland St. Ry. bonds are guar.,
prin. and int., by the Rep. Ry. A Lt. Co.
Redeemable at 100 and in!t.
on 30 days' notice.
EARNINGS.—See Republic Railway A Light Co. above.
retire
PROPERTY.
Interest.
Common $7,500,000
Convertible
perpetual.
Railway franchises in Youngstown expire 1944.
The most important Inter¬
urban franchises in Ohio expire from 1945 to 1950 and Ohio lighting and
Supplies electricity to mines and cities of Las Animas and Huer¬
Controls the entire gas. electric light and street rail¬
business of Trinidad, Colo..and operates an Interurban railway connect¬
ing Trinidad with ThomasvHIe, Cokedale, Jerryvlile. Piedmont, Jansen.
Starkvllle and Sopris.
Gas and electric franchises run from 16 years tc
perpetuity.
Street railway franchises run for 50 years from 1903.
Power Contract.—Has a contract to supply the St. Louis Rocky Mtn. A
way
Date.
ELECTRIC CO.—A subsidiary of "the
Republic Ry. A Lt. Co.
ORGANIZATION.—Incorp. in Ohio on Aug. 20 1917.
Was known as
the Mahoning A Shenango Railway A Light Co., but name changed.to
present title early in 1920.
Has ownership or control of the following
properties•
■_
'
Pennsylvania Power Co.
The New Castle Electric Co.
Sharon A New Castle Ry. Co., Ohio.
New Castle Electric St. Ry. Co.
Sharon A Newcastle St. Ry. Co., Pa.
The New Castle-A Lowell Ry. Co.
Shenango Valley Electric Light Co..
New Castle A Lowell Realty Co.
Zelienople Light & Power Co.
New Castle & Mahon. St. Ry. Co.
i Mahoning County Light Co.
New Castle Traction Co.
| Youngstown Municipal Ry. Co.
Penna. A Mahoning Valley Ry. Co.
A-fco controls the Idora Park Amusement Co.
fano counties. Colo.
($100)
$10,000,000 ($100)
_
Poland St Ry 1st M
ORGANIZATION.—Incorp. In Colorado
STOCK AND BONDS—
54,791,046 in 1918.
Pennsylvania-Ohio Elec. Co. below.
W. Burchard, F. L. Dame, R. P.
Stevens, Robert Lindsay and Harrison Williams.
OFFICERS.—Pres., Harrison Williams; V.-P., R. P. Stevens; V.-P. A
Sec., Wm. M. Coleman; Treas., L. J. Hart; Asst. Sec. A Asst. Treas., L. E.
Kilmarx.—V. 107, p. 502, 1193, 1838, 2229, 2477; Y. 108, p. 1609, 2023;
V. 109, p. 578, 1180; V. 110, p. 168, 262.
---—asm
EXECUTIVE COMMITTEE.—Anson
stock
and the $2,938,000 bonds outstanding.
p. 409.
1919, 57,258,916, against
PROPERTY, Ac.—See
Common stock $1,600,000
lame
[Vol. 110.
ELECTRIC RAILWAYS
88
Ac.—Supplies,
through
its
subsidiaries, electric light,
and gas to Youngstown and other communities in the Mahoning and
Shenango River v;Uleys, in Eastern Ohio and Western Pennsylvania, mid¬
power
between Pittsburgh and Cleveland, and owns 178-03 miles of urban
lines in the same locality, of which about 40 mile*
private right of way.
Has contracts for lighting with numerous cities
Three elec. light and power plants,
present capacity
58,250 k. w also
artificial gas plant in Youngstown; 3 gas holders.
way
and Interurban railway
on
OFFICERS.—Pres., R. P. Stevens; V.-P. A Gen. Mgr., G. T. Seeley;
V.-Ps., F. L. Dame and Randall Montgomery; Sec., Wm. M. Coleman;
Treas., E. G. Dunlap; Aud., F. E. WTilkin.—V. 110, p. 872,1188,1643.
(THE)
UNITED
OAS
&
ELECTRIC
CORPORATION.
ORGANIZATION.—Lncorp. In Connecticut on June 6 1912 as a consoli¬
Lt. A Pow. Co. and United Gas A Elec. Corp.
(Incorp. Mar. 8 1912.)
Owns entire common stocks of the following com¬
panies (V. 94, p. 1388,1696.
Compare also V. 97. p. 726.)
dation of Susquehanna Ry..
(Tex.) Gas A Fuel Co.
United Gas A Elec. Co. of N. J.
Houston
Lancaster (Pa.) Co. Ry. A Lt. Co.
Union Gas A Electric Co. of Bloom¬
Consumers
Electric Light A
Power
Co., New Orleans.
Harrisburg (Pa.) Lt. A Power Co.
Houston
Heights (Tex.) Water A
Light Association.
ing ton. 111.
Gretna (La.) Lt. A Pow. Co., Inc.
United
Gas A Elec. Eng.
Corp.
(and through it the
Coal A
Central River
Supply Co.)
Owns 50.05 of the com. stock of the Utilities Oil &
through it the United Oklahoma Oil A Gas Corp.
Refining Co., and
3*
GO
m
<1
Ph
o
HH
H
O
W
hP
w
o
CM
O
P^i
<1
90
ELECTRIC RAILWAYS
united Qas <£ Electric Engineering Corp.—This co. was organized in 1913
for the purpose of acting as
consulting, contracting and operating engineers
and as purchasing agents for the U. G. & E. Corp.
In
Feb. 1910 $5,000,000 additional 6% coll. trust sk. fd. bonds were
Issued and offered at 97 and Int. to the holders of the $4,500,000 3-year 6
%
notes of 1915 (called for
payment April 1 1916) In exchange for their hold¬
ings at 101H and Int., the difference being adjusted In cash.
V. 102. p. 801
STOCK AND BONDS—
Date.
Common $20,000,000 ($100)--
Interest.
Outstanding.
$12,250,820
Maturity.
1stpref $25,000,000(1100)6% f
Q-J
9,284.800
See text
cum to Apr 1
*15<fc7% after/
2d pref $12,500,000 ($100)
j
11.663.500
Collateral trust sink fd gold f 1915
6 g A-O
9,300,000 Apr 1 1945
bonds Ser "A" $15,000,000-! Int. at Guaranty Tr
Co., N. Y.. Trustee.
($1,000 and $100)...c*.tf I
and Penn Co. for Ins.on L Ac Gr.An..Pb
Pur money ctfs of Indebtedness
7%
1,925,800
See text
—
197
Stock.—$168,200 1st pref., $3,087 2d plref. and $16,762 com. stock Is In
treasury.
The 2d prer. stock Is to bear cum divs., viz., 2% per annum
In 1914, 3% in 1915, 4% In 1916, 5% In 1917 and
6% thereafter, and will
be entitled to a preference over common In event of
liquidation and subject
In all respects to priority over
present pref. stock.
See V. 97, p. 888.
Bonds.—$721,000 coll.
crust bonds
collateral security for
are in treasury
(of which $615,000
$543,000 notes payable, remaining
75% of the cost of acquisitions under certain re¬
strictions. $1,053,000 of bonds reports outst'g are owned
by a subsidiary and
deposited as part coll. for Its bonds.
The coll. trust bonds are secured by
com. and pref. stocks of the
subsidiary cos. having an aggregate par value
of $32,262,550.
Red. as a whole or in part at 102H and int. on 4 weeks'
notice.
A cumulative sinking fund which
began July 1 1918 will retire
over 70% of the bonds at
maturity.
V. 100, p. 2091.
Tax refund In Pa.
For
description of Purchase Money ctfs. of indebtedness, see under Utilities
Oil Ac Refining Co. below.
are
pledged
$5,000,000
198
as
may be issued for
Dividends
on
Pref.—An Initial div. on 1st pref. at rate of 6% per ann. (for
period June 6 to Sept. 30 1912) was paid Oct. 1 1912.
In 1913, 6%.
In
1914.
April. 3%.
None to Dec. 1915. when 3% was paid.
In April 1916
changed div. periods to quar. Instead of s.-a., and paid l'A%: same rate
quar. to and incl. July 1917; Oct., 1%. (V. 105, p. 1210.) None since.
REPORT.—Calendar years;
Calendar
Income for
*Apprec'n
Int., &c.
Preferred
Balance,
Year,
Year.
of Prop. Ace.
Charges.
Dividends.
Surplus
1919_
$988,884
$109,998
$776,469
$322,413
...
1918
841,412
..1,417,832
751,750
--.>
This
includes
106,225
738,820
89,662
367,421
417,816
the
equity in the net learnings from subsidiary corpo¬
rations, whether actually received in the form of divs. or not. The amount
added to surplus account of sub. cos. not declared as divs.
was $223,879;
from the last-named amt. and the
previous accumulations of surplus of
tub. cos., there wore charged
during the year various amts. on acc't of
extraordinary expenditures not directly applicable to the operations for
the year, of which the
proportion corresponding to the holdings of this cor¬
poration Is $98,534.
*
Represents in 1919 profits from dealings in securities held and sundry
adjustments to suplus, including $90,000, appreciation on the
holdings of a
subsidiary company still owned by the associated companies.
In 1917 pro¬
fits from dealings in securities held, including $140,000
appreciation on
holdings of a subsid. co. still owned by the corporation, less sundry charges.
EARNINGS.—For 12 mos. ended Dec. 31 1919: Balance of earns, of
sub.
cos.,
after deducting fixed chges., $1,850,961; deduct reserve for re¬
replacements, $432,283, and earns, applicable to stock of sub.
newals and
owned by public, $363,100; bal.,$1,055,578; oth.
inc., $242,075; total,
$1,297,653;Int. on U. G.& E. Corp. bonds. $558,000; Int. on U.G.& E.Corp.
ctfs. of indebt., $134,806; amort, of debt
cos.
disc,, $58,004; bal., $546,843.
Subsidiary Companies.
Calendar
Year—
Gross
Net (after
Earnings.
Malnl.,&c.)
1919.$10,473,555
Fixed
Taxes.
$652,136
581,781
$4,343,269
3,591,707
8,991,567
Charges.
$1,838,508
1,792,019
Bal. for
'
Renew., Ac.
$1,852,625
1,217,907
OFFICERS.—Chairman of Board, Geo. Bullock; Pres., E. G. Connette.
V.-Ps., Francis T. Homer and Tracy A. Johnson; Treas. &
Coinpt., A. L.
Linn Jr.; Sec. & Asst. Treas., J. A.
McKenna: Asst. Sec.. A. L. Linn Jr.
—V.
107, p. 187, 503, 1102, 1386, 2104, 2478; V. 108,
2242; V. 109, p. 484, 1701, 2440.
(1)
United
Qas
&
p.
380, 1827, 2023,
Electric Co.
ORGANIZATION.—Incorp.
[VOL. 110.
STOCK AND BONDSDate.
Loyk L H & P 1st ref
$750.-/ 1908
Interest.
Maturity.
Outstanding.
$450,000 Jan
5 J-J
1 1938
000 ($500 Ac $1,000).>c*tflint, at New York Tr. Co.. N. Y., Trustee.
Lockl, H&Pgenmtge ($500/ 1918
7 g J-J16
350,000 Past due
&
$1,000) guar
ctff\Equitable Trust Co., N. Y., Trustee.
1914
5 M-S
188,300 Mar 1 1939
000($ 100,$500&$l,000)c&rtf )Int. at New York Trust Co.,N. Y., Trustee.
red ® 105 <fc int
/
Demas Demlng Is also Trustee.
Richmond L H & Pguar notesf 1919
7%
440,000 Mar. 1 1921
$450,000 ($1,000)
tf I
1
Rich L H & P 1st M $3,000,-1
—
H-3C0
Ist&refM $7,500,000/ 1910
5 g J-J
1.986,300 July 11960
g($100.$500&Sl,000)c*&rtf\Int. at Girard Tr. Co.. Phila., Trustee.
W-B G & E 1st cons M
$3,-/ 1905
5 g J-J
3,000,000 Jan
1 1955
000,000g ($1.000)_>c*&rtflint, at Fidelity Trust Co.. Phila., Trustee.
Of the bonds listed above, $428,700 are in the treasury.
Bonds.—Citizens'
Gas Ac Fuel first mortgage of 1902 is a closed mort¬
Of Citizens' Gas Ac Fuel first and refunding mortgage bonds, $283,reserved to retire underlying bonds and $1,148,500 are for ac¬
quisitions. extensions. Improvements, Acc.. and can only be i&sued for 85% of
cost of same.
Demas Demlng is also trustee.
$1,300,000 of Colo. Spgs.
L., H. & P. Co. 1st Ac ret. bonds reserved to retire underlying bonds and
$883,000 are for additions, extensions, &c., at 85% of cost thereof.
Re¬
deemable at 105 and Int. on Feb. 1 1917 and at 102M and int. on any
Int
day thereafter.
V. 91, p. 466, 1097.
Leavenworth Light, Heat &
gage.
000
are
Power 1st M. bonds are redeemable at 105 and int. on any int. date, $325,bonds reserved for acquisitions and impts. at 85% of cost thereof.
000
Lockport Light, Ht. & Pow. 1st ref. bonds
are
redeemable
on
any
Int. date
at par
and int.
$300,000 reserved to retire a like amount of 1st M. bonds.
The Lockport L., H. & P. gen. mtge. bonds are secured by a third lien on the
property, together with all the stock of the International Power & Transm.
Co. Were purchased at maturity by the United
pas
&
Elec. Co., which
now lipids them as a
past due obligation.
V. 108, p. 485.
The Rich.
L. H. & P. 7% notes of 1919 are guar.,
prin. & int., by the United Gas
&
Electric Co.
Y.
108, p. 789.
Of the Wilkes-Barre Co. first and
refunding mortgage $3,000,000 are reserved to retire Wilkes-Barre Gas Ac
Electric bonds, $1,989,500 for extensions, impts., &c., and $524,200
are In treasury.
$1,537,000 of the bonds out are guar., p. & i., by endorse¬
ment
by Susq. Ry. Lt. & Pow. Co.
Subj. to call on any Int. day at 105
V. 91, p. 658.
Wilkes-Barre Gas & Elec. bonds are subj. to call
and Int.
at 110 and int. on 3 months'notice.
Dividends.—On pref. 5% has been regularly paid since incorp.
On com.,
1905, 1909 and 1907, 4%: 1908 and 1909, 2%; 1910. 4%: 1911. 4%;
1912, 4%; 1913, 4M%: 1914. 4lA%: 1915. 4%: 1916. 7%: 1917. 4%; in
1918. June, y2%.
In 1919, March, 1%; Dec., H of 1%.
In 1920, Mar.,
^ of 1%.'
In
EARNINGS.—Year end. Dec. 31 1919, earnings (less expenses), $258,030; bond int., $19,869; pref. div., $59,790: surplus, $178,371.—V. 93. p
1783; Y. 101, p. 48; V. 107. p. 1288; V. 108, p. 487, 789.
(2)
Harrisburg Light & Power Co.
ORGANIZATION.—Incorp. July 22 1912 to take over the Harrisburg
Light, Ht. Ac Pow. Co. and Paxtang Elec. Co.. whose franchises are per¬
petual.
In Feb. 1913 the Harrisburg Lt. Ac Pow. Co. purchased the Har¬
risburg Steam. Heat & Pow. Co.
In Aug. 1913 acquired Steelton Lf., Ht.
&
Power Co. V. 97, p. 179.
Serves with light and power the city of Har¬
and the adjacent communities of Steelton, Dauphin,
Penbrook,
Paxtang and Riverside; also serves the main business section of Harrisburg
with steam heat.
Stock outstanding, $1,785,000 common, and $1,250,000
6% cum. pref. stock.
All the common owned by the United Gas & Electric
Corporation.
In Dec. 1918 issued $215,000 5-year
6% notes to retire outstanding float¬
ing indebtedness incurred for exts.. add'ns and impts. V. 107, p. 2179.
Compare V. 107, p. 608.
risburg
BONDS—
Date.
Interest.
Outstanding.
Maturity.
Harrisburg Light Ht Ac Powerf 1899
5 J-J
$1,000,000 July
1924
first mortgage
tf [Commonwealth Tr. Co., Harrisb., Trustee.
Harrisburg L& P 1st & ref M) 1912
5 g F-A
2.490,000 Aug 11952
$10,000,000 g
($100 and ^Fidelity Trust Co., Philadelphia, Trustee.
$1,000)
»tfcl
Harrisburg L & P notes $215,-/
000 ($500 & $1,000) g.c*tf\
1918
6 g J-Dl
215,000 Dec. 1 1923
Int. at Commonw. Tr. Co.. Harrisb., Trus.
Bonds.—Of the Harrisburg Lt. Ac Pow. 1st Ac ref. bonds, $1,000,000 are
reserved for prior liens, $6,594,000 for impts., extens., &c., under certain
restrictions.
Red. at 105 and int. on any int. day.
Notes.—The 5-year notes are limited to an issue of $215,000.
No new
mtge. or lien (other than purchase money mtge.) may be created without
equally securing these notes.
Red. ail or in part on 30 days' notice at
100 and int.
Tax free in Pennsylvania.
in Dec. 1901 in New Jersey.
All the com.
acquired by the Susquehanna Ry. Lt. & Pow. Co., which
on June 6 1912 was consolidated with
United Gas & Electric Corp.
Owns
and controls the following gas and electric
properties:
Oit. Gas Ac Fuel Go., Terre H'te, Ind.
Lockport (N.Y.) Lt. Ht. & Pow. Co.
Colo. Spgs. (Col.) Lt. Ht. Ac Pow. Co. Richmond
(Ind.) Lt. Ht. Ac Pow. Co.
Leavenworth (Kan.) Lt., H. & P.
Co.. Wllkes-Barre (Pa.) Co.
Also controls the Klmlra Water Lt. & RR.
Co.. which see under "El-
EARNINGS.—Year ending Dec. 31 1919. gross, $1,136,948; net, after
taxes, $461,525; charges, $240.399;surplus, $221,126. V. 107, p. 608,2479.
In July 1915
disposed of Its holdings of common stock In the Hartford
(Conn.) City Gas Light Co.
V. 101. p. 50.
During 1915 the electric
department of the Richmond Lt., Ht. <fc Pow. Co. was sold to the
city of
Richmond, Ind.
The stock investment in the Altoona Gas Lt. &
Fuel
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Common $1,000.000-__A11 owned by United Gas & Elec. Corp.
Preferred $500,000 (7% cum)>
Q-M
$500,000 Mar. 20, 1 %
First mtge $2,500,000 goldf 1911
5 g J-J
1,569,000 Jan
1 1936
($100, $500 and $l,000).c#\lnt. at Columoia Tr. Co., N. Y.. Trustee.
mon
stock
mlra
N
was
V."
Co.
written off, the company having failed to meet its
interest charges in
1915, due to natural gas competition.
was
Service-at-Cost Plan.—In Oct.
1919
a
citizens' committee recommended
the operation of the Colorado
Springs Lt. Ht. & Pow. Co. under
at-cost plan, for details of which see V.
a service109, p. 1528.
The $450,000 2-year 7% notes of the
Richmond L., H. & Power Co.
were issued in exchange
($ for $, with a cash bonus of 3%) for a like amount
of 5-year 6% notes or that co. which matured
on March 1 1919.
■**
March 1919 holders of the Col. Springs Lt., Ht. & Power 1st & Ref.
M. 5s due Aug
1 1920, approved an extension for 1 year of the
$300,000
1st M. 5s due April 1 1919 at
7%.
V. 108, p. 1277.
Owing to the uncertainty regarding the co's. franchise and the fact that
the co s. entire bonded debt matures in
1920. the following committee was
formed to protect the interests of the
holders of securities of the Colorado
Springs Lt. & Power Co.
General Protective Committee.—J. A.
Cauldivell, E. G. Connette, E. C.
Delafield. T. A. Johnson, John H. Mason. Arthur V.
Motron, Jonathan
C. Neff, Geo. K.
Reilly; Secy., L. II. Cubberley, 306 Chestnut St., Phila..
Pa.
Depositories:
(a) 1st M. 5% 20-yr. bonds of Colorado Springs
Light
& Power Co., as extended at
7%. at Franklin Trust Co., N. Y. City,
(o) 1st M. 5% 20-yr. bonds of Colorado
Springs Electric Co., at Pennsyl¬
vania Co. for Insce. on L. Ac Grnt.
Ann., Phila.
(c) 1st & Ref. M. 10-yr.
5% bonds of Colorado Springs Light, Heat & Power Co. at
Commercial
Trust Co.. Philadelphia,
(d) and (e) non-cum. 6% pref. stock and the
com. stock of Colorado
Springs Light, Heat & Power Co. at N. Y. Trust
Co., N. Y. City.
Deposits have been called for.
For circular of
see
V.
committee
110. p.
1418.
Practically all of the $350,000 Lockport Gas & Elec. 1st M. 5s due Feb. 1
1920 were bought in through the medium of bank loans.
The United Gas & Elec. Co. as
guarantor of the $350,000 Lock. Lt., Ht.&
Power Gen. M. 7s due Jan. 16 1920 has
purchased and is now
as a
holding same
The Lockport Lt., Ht. & Power Co. has
applied
past due obligation.
S. Comm. for auth. to issue certain securities
for the pur¬
pose of taking care of iits matured obligations.
to the N. Y. P.
STOCK AND BONDS—
Stock common $4,000,000..
Stock preferred $1,500,000.
First mtge $3,000,000 ($500)
Date.
Interest.
J-J
Outstanding.
$3,621,000
Maturity.
See text:
1.195.800
Jan *20, 2H
1902
5 g J-J
396,000 Jan
1 1922
and $1,000) gold
cntflInterest at New York Trust Co., Trustee
Securities of controlled gas and tier,trie companies—
O tG & Fuel 1st M $500,000
tf 1902
5 A-0
283,000 Oct
1 1922
M $2'~
1910
6J_J
568,500 Jan
11960
J
(3)
Consumers* Electric Light & Power Co.
Operates
an
electric light and power system in New Orleans.
Stock.—Preferred stock 7% cum. from April 1 1913.
Bonds.—$193,000 in treasury.
ind betterments.
Remaining bonds are for extens., impt.
Subj. to call at 105 and int.
No sinking fund.
EARNINGS.—Year end. Dec. 31 1919,
taxes, $223,999; charges, $83,225; surplus,
gross.
$568,267;
$140,774.
net,
after
(4) Houston Qas & Fuel Co.
Entire com. stock is owned by United Gas Ac Elec.
Corp.
Does entire
gas business of Houston and vicinity.
Has acquired Houston Gas Co.
Franchise runs until July 1 1940 and fixes the prices for gas at $1
per 1,000
cubic feet.
|
Extension.—On Feb. 20 1920 a circular letter was sent to the holders
o£
the ref. & impt. mtge. bonds asking them to consent to an
extension o*
$900,000 of the $961,000 Houston Gas Co. 1st 5s due March 1 1920 to March
1 1923, at 7%.
The remaining $61,000 of these bonds will be paid for out
of the proceeds of the sale of ref. & impt. bonds or other
junior securities.
The extended bonds are to be red. all or in
part on any int. date at 101, on
or before March 1 1921; at 100
H on or before March 1 1922; and 100H on or
before Sept. 1 1922.
V. 110, p. 974.
In April 1920 we were informed that
this plan had been carried out.
STOCK AND
BONDS—
Common $1,500,000
Preferred (7% cum) $550,000.
Ref Ac impt M $6,000,000
Houston Gas first mortgage
Date.
-
—.
1912
1905
Interest.
7 Q-J
5 M-S
Outstanding.
Maturity
$1,500,000 Mar 18 1%
550.000
Dec
'19,1
»2
745.000
Sept
11932
961,000
5 M-S
Mar
11920
STOCK.—Preferred stock is callable at 110 and dividends.
BONDS.—Additional bonds
can
and
be Issued only for 80% of cost of extens.
impts. when annual net earnings
Including those to be issued.
are
double
the interest
on
bonds.
EARNINGS.—Cal. year 1919, gross, $780,210; net. aft.
taxes, $173,750:
charges, $85,985; surplus, $87,765.—V. 106, p. 818; V. 110, p. 974.
(5) Union Qas & Electric Co.
ORGANIZATION.—Incorp. July 6 1899 under
99 years.
the laws of Illinois for
Acquired physical property, franchises and capital stock of the
Bloomingtou Gas Light Ac Coke Co. and the Citizens' Gas Light Ac
Heating
Co.
All com. and pref. stock owned by United Gas Ac Elec.
Corp.
„
000,000($100.$500&$1,000)lint,
red
as a
whole® 105&Int_tf I
0o's5sE1 at IstM($ 1.000f
Co
000) red
at New
Trustee.
1900
York
Trust
Co..
New
York,
5 A-O
1.000,000 Apr 20 1920
110 & int_c*tf (New York Trust
Co.. New York. Trustee
& Pow 1st
ratgef 1899
7 A-O
300.000 April 1 1920
$300,000(S500&S1.000)
ctfllnt. at New York Trust Co., N. Y., Trustee
ILJ? LPSIfir 1st J 1910
5 g F-A
1,284.000 Aug 11920
York Trust Co., Trustee.
Interest at New
($100. $500 & $l,000).c#tf I
M. N. Buckner is also Trustee.
$1,000.-1 1908
5 M-S
675.000 SeDt 1 1Q2't
000(1100,$500&$1.0o6)c*tf (Int. at New York Trust Co., N. Y., Trustee.
Leay L H & P 1st M
STOCK AND BONDS—
Common stock $750.000'-
Date.
Interest.
Outstanding.
$750,000
Maturity.
__
2nd
pref stock (7%) $250,000
7%
250.000
lstpref stock (7%) S50.000T.7%
50,000
1st mtge $750,000 ($1,000)_. I 1905
5%
579,000 Sept 1 1935
lint, at First Tr. Ac Sav. Bk., Chic., Trustee.
—
Bonds.—The
of extens. Ac
$93,000 additional
bonds can be Issued for 75% of
cost
impts. when net earnings are twice int. on bonds, incl. those
Red. at 105 and int. on
any Int. date.
Ann. sink, fund of
receipts on and after Oct. 1912.
Up to Nov. 22 1919 $77,000
to be issued.
5% of
gross
retired.
EARNINGS.—For year end. Dec. 31 1919, gross,
$260,685; net, after
taxes, $74,151; charges, $30,644: balance, $53,507.
APR., 1920.]
ELECTRIC
RAILWAYS
91
(6) Utilities Oil & Refining Co.
-Bonded Debt-
ORGANIZATION.—Incorp in Maine in 1917 to finance the purchase
by the United Gas & Electric
Corp. of a half-interest in the oil and gas
leases covering a valuable
producing property of 514 acres in the Augusta
pool of the Kansas oil field, the remaining one-half being owned by the
*4a£°oli.a Petroleum Co. (V. 104, p 1390, 1268). The oil company issued
80,000 shares of capital stock of $5
par value and $2,000,000 5-year 1st M.
7% bonds dated Apr. 1 1916; mortgage trustee is U. S.
Mtge. & Trust Co.
Int. payable
quarterly,
Denom. $1,000 and $100.
Themajority of the co.'s stock is owned by the United G. & E. Com.
The $2,000,000 bonds have been
exchanged for 7% Purchase Money Ctfs.
°f Indebtedness of the U. G.
& E. Corp. secured Dy a like amount at
par
of the oil
company bonds and having no maturity except
upon the dissolu¬
tion or winding up of the
corporation.
The certificates of indebtedness
are
red. in whole
in part at the option of the
corporation, on s.-a. periods
at (or, if
purchasable, at a less price) 101 and interest on Jan. 1 1918 and
an increase of
1% premium on each July and Jan. thereafter until 110 has
been reached, and thereafter at 110.
For
or
erty, estimates of earnings. &c.,
see
description of the oil co.'s
V. 104, p. 1490.
in
Preferred stock
Sub. cos. securities
Sub. cos. Preferred stock
Summit County Power Co.
Texas
hold-
as a
Stock—
$
84,000
!—
alOO.OOO
c5,000
Toledo Trac. Lt. & P. Co..
Preferred sL>ck
Securities held for exch_.
Acme Power Co
450,000
2,000,000
13,000,000
450,000
500,000
3,000,000
Washita Gas &
regarding the Consolidated and
Section for Sept. 27 1913.
See full particulars
companies in the issue of this
Utilities
Western
OF
al3,875.000
7,739.000
al.500.000
d
$1; / $5.25.]:
-Bonded Debt
—
Bonds
Cities Service
Outstanding.
♦Alliance Gas &
$
75,000
Power Oo_
Amount
Company. Outstanding,
$
Adrian Street Ry. Co
Stock
75,000
352.000
%
a30,000
98.333
VN1.872
a416,300
Arkansas Valley Gas Co
a
Ashland Gas & Elec. Lt. Co
Athens Ry. & Elec. Co
95,000
754,000
150.000
99.533
alOO.OOO
a750,000
a.300.000
Preferred stock
Chemical Co
Battles Oil Co
7,000
99.99
100.00
99-83
99.865
99.916
a300.000
a2.000.000
a2.500,000
a200,000
a400.000
a 16,000
aHO.OOO
383,000
38.200
42,000
Preferred stock
200.000
a400.00n
5,008,000
al0.000.000
a50,000
dl00,000
a99,600
ol0,000
Pipe L. Co
......
Brockton Gas Fuel Co.
Republic L..H.& P.Co.
Glenwood Nat.G.Co.,Ltd
..
lOO'.OO
100.00
404.000
922,000
316,100
a750,000
o800,000
o200,000
d66,755
al.000,000
550,000
300.000
al.000,000
5.4
99.85
alOO.OOO
100.00
a5,000,000
74.51
Mfrs. Nat, GasCo.,Ltd
Securities of sub. co_.
Sentinel Oil & Gas Co..
•City Light & Traction Co.
100.00
443,550
a250,000
.
Coshocton Gas Co
Medina Gas <fc Fuel Co
Cities Fuel & Power Co__
American Pipe Line Co.
[99.9
al,000,000
Bartlesville Gas & Elec. Co.
376,000
Berea Pipe Line Co
175,000
•Bristol Gas & Electric Co.
425,000
Brush Electric Co
1,265.000
•Cent Ohio Gas & Elec. Co.
Buckeye State Gas & Fuel
Columbus Nat. Gas Oo__
99.5
99-8
al ,000,000
_
Atlas
Preferred stock
99-93
a400.000
•City Light & Water Co...
Preferred stock
Colombial Petroleum Co
Compania
Serv-
ice Co.
O550.000
...
Preferred stock
Franklin Co.
Frost Gas Co
Cities
$
......
Colombiana
Del Petroleo
*
.
200,000
Compania Emmex De Pe¬
troleo
y
Gas
Crew Levick Co
/5.250
a3.001,500
2,910.600
Sub. Cos. securities
•Oumb.&West. El. Ry. Co.
Danb. & Beth. G.&El.LtCo
Denver Gas & El. Lt.
655,000
......
156.000
Co..12,730,350
Preferred stock
•Dominion Gas Cc
4.820,000
570,000
Beaver Oil & G.Co.,Ltd.
Preferred stock...
Brantford Gas Co
Domin. Nat.GasCo.,Ltd.
85,000
Ingersoll Gas Light Co..
United Gas Cos., Ltd
30,000
Woodstock Gas Lt. Co..
Durham Traction Co
50,000
400.000
Preferred stock
Electric Bond Deposit Co..
Preferred stock
Empire Dist. Elec. Co
2,500
.1
co. securities
Preferred stock
I
4,000
......
Empire Gas & F. Co. (Del.)31,951,800
Pref. stock
Securities of sub. cos
7,234,000
6,700,000
......
......
cos
250.000
Havelock Elec. Light Co
_
Maumee Vail. Rys.&Lt.Co.
i_.
41.000
al,700
100,000
17,739,600
a62,500,000
17,739,600
37,884,000
100.00
100.00
80-81
99.4
99.95
.004
99.994
80-81
a350,000
a25,000
a500,000
a300,000
al75,000
a2,000,000
al.000,000
a3,000,000
a2,000.000
al37,300
a300,000
alOO.OOO
100.00
30,000
aSOO.OOO
19,300
a2.180.900
al5,000
v
a750,000
.
....
800,000
......
500.000
139,000
106.000
494,400
50.000
510.500
j
...
cos.
a500.000
a250,000
al,000,000
a2.000,000
a500.000
al,658,100
a.300.000
al,500,000
3,200,000
a3.500,000
a 1.560.000
a500,000
2,090.000
a4,000.500
350,000
a500,000
2,450,000
50.00
100.00
70.866
99.90
...
100,000
al00 000
99.50
marked* 10.000.000
376,000
a250.000
100.00
In
these
companies is largely pledged to secure
$10,000,000 bonds of the Consolidated Cities Lt.. Pow. & Trac. Co.
Summary of Capital Stock and Funded Debt Sub. Cos.
Com. Stock.
I
of Dec. 31 1919.
Bonds Out.
$
$
__
Outstanding
inlands of public
Total
5,124,667
•-
the
17,437,849
26,420,000
1,876,698
9,993,774 107,763,303
219,605,200 33,940,275 153,497,850
Merger of Subsidiary Companies.—As of May 1 1916 the Empire Gas &
over the Quapaw Gas Co., Wichita Natural Gas
Co., Wichita
Pipe Line Co., increased its capital stock from $7,500,000 to $12,500,000
and Issued $14,000,000 1st M. and coll. tr. sk. fd.
6% bonds due May 1
1926.
See V. 102, p. 1542; V. 103, p. 1034.
The entire stock of the en¬
larged co., except directors' shares, is owned by the Cities Service Co.
Fuel Co. took
Proceeds of the
new
bonds
were
used to retire the $7,000,000 Cities Service
Co.
7% conv. notes (called for payment on or before July 12 1916), and
underlying bonds and provide for extensions, &c.
In July 1916 acquired the Crew Levick Co. of Phila.,
operating producing.
refining and distrlbutin
in Penna., Ohio, Okla. and other
8tates.
V. 103. p. 406,
As of Aug, 1 19i6 acquired over 75% of the
pref. stocks of the Lincoln
was & El. Lt. Co. (V. 102,
p. 1991), Montgomery Lt. & Water Power Co.
(V. 102, p. 1721; V. 91. p. 340), and Electric Bond Deposit Co. (V. 941
p.
510; v. iuu._p. 1675). in exchange for Cities Service pref. stock under offer
5iu; V. 100, p. 1675), m ea
outlined in V7102, p. 2077.
In August 1916 acquired over 75% of the outstanding common and
preferred stocks of the Toledo Trac. Lt. & Pow. Co. in exchange for 35%
Cities 8erv. pref. and 7% com. stock for each share of Toledo
common.
and share for share for preferred.
V. 103, p. 1119.
In Nov. 1916 contracted to acquire the Kansas Natural Gas Co. and Its
subsidiaries through the Empire Gas & Pipe Line Co. V. 103, p. 2078.
In April 1917 the Empire Gas & Fuel Co. was
incorporated in Colorado
with $1,700 outstanding common capital stock, all owned by Cities Service
Co., and owns gas, oil and mineral leases in Arkansas, Colorado, Montana,
Nebraska, New Mexico and Wyoming.
In Dec 1917 purchased the Stand¬
ard Asphalt & Refining Co. at Independence, Kan., from the Armour inter¬
ests, also acquired control, in 1917, of the Atlas Chemical Co., which sells
coke oven gas to the Toledo Railways & Light Co.
In Nov. 1917 acquired the American Pipe Line Co. (V. 105,
p. 2183).
During 1918 also acquired the Berea Pipe Line Co. and Venture Gas Co.
In Dec. 1918 the co. acquired control of the Western
Light & Power
Co.
V. 108, p. 82.
In Nov. 1919 the Cities Fuel & Power Co., a subsidiary, brought out
$7,500,000 3-year 6% secured notes, guar., prin., int. and sink, fund, by
the Cities Service Co., to refund $7,259,000 2-year 7% secured notes due
Dec. 1 1919.
V. 109. p. 1701, 1795.
In May 1914 shareholders rcitlfiou m Increase In the stock from $50,000,000 ($30,000,000 pref. and $20,000,000 common) to $65,000,000 ($40,000.
000 pref. and $25,000,000 common).
000
On June 29 1916 authorized stoci
stock
$
was further increased to $100,000,000 ($60,000,000
pref. and $40,000,000
common).
On Apr. 3 1917 shareholders ratified a further increase in au¬
thorized stock to $150,000,000 ($100,000 000
pref. and $50,000,000 com.).
In Nov. 1915 sold $5,000,000 pref. and $2,500,000 com. stock to a
syndi¬
cate for $5,000,000 cash to retire floating debt and provide working
capital.
V. 101.
p. 1627, 2071.
In Oct. 1916 sold $8,000,000 pref. stock In connec¬
tion with the purchase of the capital stock of the Crew-Levlck Co., Ponca
(Okla.) Refining Co., Ponca Lubricating Co., Gushing (Okla.) Refining
Co. and the Producers' Refining Co.. Gainesville. Tex.
V.
103. p.
1412, 1301.
In Nov. 1917 it was announced that the directors deemed lt an
inop¬
portune time for the consideration of a radical change in any of the co's
policies, and so did not act upon the proposition of applying for the listing
and
the reduction
or
debentures to
provide for future requirements.
V. 106, p. 1126.
In Aug. 1918 an addi¬
tional $6,000,000 were brought out.
V. 107, p. 607.
In Jan. 1919 stockholders were offered the privilege of
subscribing for
$10,000,000 Series "O" 7% conv. debentures at par and int.
V. 108,
p. 82.
In Dec. 1919 the company brought out $10,000,000 7% conv. debentures.
Series "D."
V. 109, p. 2174, 2266.
In Feb. 1919 300,000
(par $10) "Bankers shares" were disposed of,
200.000 being subscribed for at $35 each and 100,000 at $37 50 each.
V. 108, p. 881, 1062.
See also V. 109, p. 1702.
conv.
,
t
i(^„
In March 1920 holders of record of Feb. 1 1920 of the
company s Series C
conv. debentures were given the privilege of converting 10% of their
7%
holdings into
com. and pref. stock, as provided for in the indenture,
V. 110,
A similar privilege was extended to holders of record as of March 1
110, p. 1190.
On April 8 1919 stockholders voted to increase the authorized amount of
pref. stock from $100,000,000 to $150,000,000.
On' Nov. 17 1919 the
stockholders voted to further increase the auth. capital stock from $200,000,000 to.$300,000,000 by creating $60,000,000 of 6% Preference BB
stock and $40,000,000 of 6% Preference B stock.
$3,000,000 of the new
Preference B stock was issued immediately, being offered to the stockholders
at $7.50 per share, and was largely oversubscribed.
V. 109, p. 1702, 1990.
766.
p.
1920.
V.
,
t
.
„
.
..
99.933
99.86
Stock, &c.. Outstanding Feb. 29 1920.
..
99.9155
49.866
100.00
99.978
95-1171
19.23
99.90
99.9575
Date.
Com. stock ($100) $50,000,000
Pref
stock
6%
cum
($100)
$150,000,000
.
99.95
99.965
99 9
as
Pref. Stock.
$
Owned directly by Cities Serv. Co
153,545,868 23,305,501
Securities owned by sub-holding cos__
60,934,665
641,000
Bonds and funds in sinking fund
STOCK, ETC.—
....
98-833
99.60
81.456
74.6225
100,000
owned
97.959
.
100.00
99 70
153,497,850 17,437,849 253,545,475
•The stock
25.36
311,000
1,500,000
10,000
750,000
733,000
250,000
300,000
99 90
,
99.9
2,000
Sallna Lt., Pow. <fc Gas Co.
550,000
•Southern Ont. Gas Co.,Ltd 3,984.000
Southw. Okla. Gas& F. Co.
350,000
100.00
465,000
•Meridian Light & Ry. Co. 1,783,000
Hattiesburg Trac. Co...
568,000
Montgomery L. & W.P.Co. 2,350,000
Pueblo Gas & Fuel Co....
618,000
Richland Company
750,000
Richland Public Serv. Co.
2,974,000
St.JosephRy.,Lt.,Ht.&PCo 5,734,000
Preferred stock
al,500,000
1,500,000
a3.000,000
al.003,900
a600,000
alOO.OOO
al.000,000
Preferred stock
Lorain County Electric Co.
•Massillon Elec. & Gas Co.
Preferred stock....
...
98.933
—
a700.000
of Cities Service stocks on the N. Y. Stock Exch.
abolition of the par value of the common stock.
In Feb. 1918 issued $3,000,000, Series "B" 7%
a400,000
Empire Gas & Fuel Co.(O.)
Empire Oil & Gas Co., Inc
Empire Petroleum Co
Lebanon Gas & Fuel Co...
Lincoln Gas & Elec. Lt. Co.
99.983
675,000
el21,820
al,250,000
e40,000
a300,000
e86,120
a
35,449
430,000
Fremont Gas. El. Lt.& F_.
•Knoxville Gas Co
a3.000.000
6162,300
a300,000
a200,000
Preferred stock
Pref. stocks of sub.
91.248
99-938
99.987
*
4,302,000
Empire G. & F. Co. (Col.)
Empire Gas & F. Co.(Ky.)
100.00
6625,000
C400.000
alO,000.000
al,217,900
...
Preferred stock
Sub.
100.00
388,500
...
99.42
a200 000
Fuel Co...
Total
SUB.
COS.—The following table shows the
securities of the subsidiary
companies owned or controlled by the Cities
Service Co. as of Dec. 31 1919:
[par of shares; a $100; b $50; c $25; e $20;
96.40
125,711
Distributing Co..
com.stk. In
water and 25 oil
CAPITALIZATION
99.96
99.95
95.70
Oon8ol. Cities Lt. P. & Tr.
Co. bds. secur.by pl'geof
On Dec. 31 1919 the company controlled 80
gas, electric
light, heat, power
producing and refining properties, operating in 27 States of
the United States, and in the Dominion of Canada.
The public utility
prop¬
erties serve over 375 communities.
The company in May 1919 announced
that through its sub. cos. it controlled leases on about
4,000,000 acres of
proved or prospective oil lands in the United States.
V. 108, p. 2024.
Below will be found tables giving a
complete list of the subsidiary com¬
panies with the outstanding capital stock and bonded debt of each and the
amounts thereof owned or contracted for
by the Cities Service Co.
The
holdings of the Consolidated and Utilities companies are included in these
tables, having been taken over by the Cities Service Co. as of Nov. 1 1913.
98.00
87.50
a2,000,000
a7.966,250
a6,661.675
1,362.300
Watauga Power Co
Western Light & Pow. Co.
Preferred stock
Western Okla. Gas & F.Co.
...
64.875
100.00
a4,500,000
2,306,100
.
Electric Light Co.
V. 96, p. 656, 718.
In 1913 the company also acquired
the properties (consisting of
securities) of Consolidated Cities Light, Power
& Trac. Co. and Utilities
Improvement Co.
For terms of acquisition see
this section of Nov. 15 1919 under "Cities Service Co."
99-935
a4,000
al ,500,000
...
4,000,000
Toledo Rys. & Lt. Co... 14.825.500
Other sub. co's securities 6,525,000
Pub. Serv. Co.
Preferred stock
United Wat., Gas&El. Co.
ice Co.
%
$
a2,000,000
a300,000
a99.400
a50,000
a392.600
Utilities Construction Co..
2077.
Outstanding,
333,000
Preferred stock
Under a re-arrangement of properties made in March 1913 acquired
control of the St. Joseph (Mo.)
Ry., Lt., Ht. & Power Co.. Empire District
Gaa Co. (subsequently
dissolved) and Danbury & Bethel (Conn.) Gas Sr
mt
Amount I Citif
Cities Serv-
Service
Company.
Distributing Co
♦Trumbull
Delaware Sept. 2 1910
Cities
550,000
Toledo Beach Co.
Toledo Casino Co
Tol. Ottawa Bch.& Nor.Ry.
Toledo & Western RR__.__
prop¬
CITIES SERVICE COMPANY—A
holding company.
ORGANIZATION.—Incorporated
Bonds
Outstanding.
$
Spokane Gas A;-Fuel Co.—
864,000
Monthly
Monthly
--
Series
"B"/
„
*76,026,285
n
(par $10)
debs
Outstanding. Divs.&Mat.
*$41,145,036
See text.
,,
PfBBstk 6% cum $60,000,000
Pf B stk 6% cum $40,000,000
CW 7%
closed
Interest.
Monthly
1918
Monthly
See text
_
nnn
3,000,000
8,132,770
See text.
c,
.
Seo text.
Jan 1 1966
Conv
leb
Ser "D" $30.-/ 1919
See text
10,000,000
Jan 1 1966
000,000 gold
c*&r_tf-(New York Trust Co., New York, trustee.
"Bankers'shares" (par $10).rSee text
x3,000,000
See text.
Conv 7%
......
*
Including $3,358,920 common stock and $2,049,450 pref. stock in
pany's treasury,
x Included in comipon stock outstanding.
com¬
ELECTRIC
93
Stock.—On Nov. 17 1919 an amendment was
made to the charter which
provides that the company shall have the right to redeem
stock, all or in part, at 112.
Preference B and Preference
redeemable, all or in part, at 106.
V. 109, p. 1990.
its first pref.
BB stock are
Dividends.—Divs. on the pref. stock commenced with the date of or¬
ganization Sept. 2 1910 and were paid monthly at the rate of 6% per annum
until Aug. 1 1914.
Divs. at the same rate were resumed on Jan. 1 1916
and the accrued accumulated divs. were paid in convertible debentures,
practically all «f which have since been converted.
Divs. have been paid
regularly to and incl. April 1 1920.
An initial div. of J4 of 1% was paid
Jan. 1 1920 on the 6% Preference B stock.
Same rate paid regularly since
to and incl. March, 1920.
Cash divs. on com. stock began with the date
of organization, Sept; 2 1910, and were paid monthly up to Aug. 1
1914
at the following rates per annum: 3%, 1910; 3%, 1911; 4%, 1912; 5%, 1913;
6%, 1914, and were then suspended until Jan. 1 1916, at which time a dis¬
tribution ©f %%■ ©f convertible debentures was made and on July 1 1916
a further distribution of 3%
of convertible debentures.
Since that time
to and incl. April 1 1920 cash divs. have been paid on the com. stock at the
rate of 6% per annum.
On Sept. 1 1916 a div. of 2% in com. stock was
paid and ©n Dec. 1 a div. of 4% in com. stock was paid.
During 1917 the
co. declared a div. of 6% payable in com. stock; in 1918, 9% in com. stock,
and in 1919 12% in com. stock.
Stock divs. will be increased at the rate
of 3% per annum, so long as the earnings of the co. justify this policy.
The co. paid a div. of \ lA % in com. stock on Feb. 1 1920 which places the
div. at
an
annual rate of
15%.
Divs. (cash.) «n "Bankers Shares": In 1919, $4.11; In 1920,
Feb., 55.9c.; March, 54.7c.; April, 50.2c.; May, 53.8c.
Jan., 46.1c.;
deposited with the Bankers Trust Co.,
N. Y., 30,000 shares (par $100) of common stock of the co., against which
have been issued 300,000 non-voting certificates known as "Bankers'
shares, each share representing l-10th of a share of said common stock.
Holders of the Bankers' shares have the right to surrender their holdings
and receive therefor 1 share of com. stock ($100) for each 10 shares of
"Bankers' Shares."—The company
Bankers'
shares
The stock divs. accruing to the com. stock
proceeds, together with the cash
deposited.
deposited will be sold each month and the
stock, will be paid the holders of these Bankers' shares each
month.
Additional shares may be issued at the option of the company
or H. L.
Doherty A Co., its fiscal agents.
V. 108, p. 881.
divs.
such
on
Convertible
7%
Series
Debentures,
(1)
"B."—Denom.
bonds,
coupon
$1,000, int. J. k J.; (2) registered bonds, $5,000, $1,000, $500 or $100; int.
payable by check, at buyer's option, either monthly, Q.-J., J. & J., or annu¬
ally Jan. 1; (3) registered bonds, $10 or multiples thereof, less than $100, int.
payable annually Jan. 1.
Each $100 of principal amount is convertible,
at option of holder, on Jan. 1
1920, or on the first day of any month
thereafter, Into $80 par value of pref. stock, and $20 par value of common
stock, together with an amount of cash and stock equal to the divs. paid
on an equal amount of common stock from Jan. 1
1918 to the date of con¬
version.
$58,300 are owned by company, included in amount outstanding.
Callable, all or in part, by lot or by distinctive, numbers at 102 and int. on
4 weeks notice. If called for redemption, the right to convert is secured for at
least 30 days prior to redemption date. Interest payable without deduction
of normal Federal income tax. V. 106, p. 1126; V. 107, p. 607, 699.
This
issue has been closed.
7% Debentures, Series "C."—Denom. coupon bonds, $500
$1,000, int. J. A J.; registered bonds, $5,000, $1,000, $500, $100, $10
multiples of $10, Int. payable by check,
monthly, quarterly,
semi-annually, or annually, at option of holder; except that on bonds of
less than $100 principal amount, interest is payable annually on Jan. 1
only.
Each $1,000 principal amount of these debentures is convertible (at
option of holder) on and after Jan. 1 1921 (or earlier at co.'s option), into
9 shares of Cities Service pref. stock and 1 share of Cities 8ervice com. stock,
together with the accumulated cash and stock divs. on the latter amount of
com. stock from Jan. 1 1919 to time of conversion.
$93,100 are owned by
Convertible
&
and
in amount outstanding.
Red. all or in part at any time
called for redemption, the right to convert is secured for
company, included
at 102 and Int.
If
days prior to the redemption date.
Additional debentures may
be issued only under certain restrictions.
Int. payable at office of H. L.
Doherty A Co., N. Y., or office of Cities Service Co. in London, without
deduction of normal Federal income tax.
V. 108, p. 82.
at least 30
Convertible 7% Debentures, Series "D."—Denom. (c*) $1,000 and $500,
int. J. & D.; (r) $5,000, $1,000, $500, $100, $10 and multiples of $10; int.
payable by check monthly except that on bonds of less than $100 principal
amount, int. is payable annually on Dec. 1 only.
Each $1,000 principal
amount is convertible on and after Jan. 1 1922 into $925 par value of either
6% cum. Preference B stock or 6% cum. Preference B stock and $75 par
value com. stock, together with the amount of accumulated cash and stock
div. on $75 par value com. stock after Dec. 1 1919 up to time of conversion.
The company reserves the right to provide for the conversion of all, or any
part, of these debentures at any time prior to Jan. 1 1922.
$20,000,000 of
these debs, are held in treasury.
Additional debs, of this issue may be auth.
under certain restrictions.
$3,000,000 are deposited with the Bankers
Trust Co. for the conversion of the Toledo Trac., Lt. & Power Co. conv.
7%
Through
debentures.
be available after Jan.
operation
of an investment fund there will
in the open market at a price
of holders of these
1 1920. for purchase
exceeding 105 and int. for account and benefit
debentures, a sum each month equal to the cash divs.
not
paid on the amount
debentures are convertible.
Callable, all or
and int.; when called the right of holders to exercise their
privileges of conversion is secured to them either on the redemption date or
a date a reasonable time prior to such redemption date, which must be fixed
by published notice.
Int. payable at offices of H. L. Doherty & Co.,
N. Y., or company's offices In London, Eng.
V. 109, p. 2174.
Bonds of Consol. Cities Light, Power & Traction Co.—These bonds remain
out as a lien on the securities pledged therefor (see * in the table following).
The bonds are subj. to call at 105 on any int. day and are guar., p. & i..
by the Cities Service Co. On or before Jan. 1 the company will in each
year either (1) pay to s.f. 1 % of bonds out or (2) deliver to trustees bonds of
the present series
equivalent at 105 and int. to the above payment. All
cash in sinking fund will be applied either (1) for purchase of these bonds
at or under 105, or call at that figure; or (2) in purchasing bonds of com¬
panies whose stocks form part of security for present series.
All bonds so
purchased will be kept alive for sinking fund.
Maryland and Pennsylvania
State tax refunded.
See also V. 95, p. 679,110; V. 103, f>. 1983.
of
stock into which these
com.
in part, at 102
text) f 1912
5 g J-J
z$10,000,000 July
($100, $500 and $1,000, or(Int. at office of H. L. Doherty A Co.,
First lien mtge gold (see
£
$10,000,0001
equivalent)
$376,600
1 1962
N. Y..
Lloyd's Bank, Ltd., London.
c*.tf [Bankers Trust Co.. New York, trustee.
authorized
x
or
of
this
amount
is owned
by Cities Service Co., and
$1,-
500,000 pledged under mtge. of Citias Fuel A Power Co.
EARNINGS
OF
CITIES
SERVICE
CO.—For the
12 months ending
(annual report for 1919 in V. 110, p. 1410, 1427.
Tbe "earnings" as hefe snown Include both the dividends and
received and the company's proportion in the undivided surplus
of the subsidiary companies for the periods in question, based on its
In said companies.
I
Month of December
12 Mos. end
1919
1918
interest
earnings
holding*
Dec 31
1918
1919
$1,757,622 $1,805,815 $19,977,551 $22,280,067
61,588
54,143
703,835
521,486
earnings
Expenses
(1) Adrian (Mich.) St. Ry. Co.
Organization.—Incorp. in Mich, on Feb. 13 1900 as a reorganization of
Elec. St. Ry. Co.
Cities Service Co. owns over. 98% of the
$30,000 cap. stock outstanding and all of the $75,000 1st M. 5% bonds.
Franchise.—Expires in 1935.
Road, &c.—Does the entire electric railway business in Adrian, Mich.
3.89 miles of track and 3 motor cars.
50-70-lb. T and girder rails; standard
the Adrian
gauge.
Officers.—Pres. & Gen. Mgr., Frank R. Coates;
(2)
Athens
on
earnings...
notes and deben
Preferred
Net
and
to
dividends.
common
$1,696,034 $1,751,672 $19,273,716 $21,758,581
168,770
60,650
1,922,861
272,580
372,589
337,379
4,215,264
4,034,275
stock
^1,154,675 $1,353,644 $13,135,590 $17,451,728
reserve
Combined Income Account of Subsidiary
Calendar
Gross
Net (after
Interest
Year—
1919
1918
Companies.
Preferred
Earnings.
Taxes. &c.)
Charges.
Divs.
...$91,398,946 $29,196,463 $10,911,690 $4,665,467
92,527,838
31,428,222
9,291,830 4,425,339
Surp. for
Com. Stock.
$13,619,306
17,711,053
OPERATIONS, AC.—As of Dec. 31 1919, Cities Service Co. subsidiaries
owned 409 miles of track; 900 cars; 1,762 miles of artificial gas mains (on
3;inch basis); 4,548 miles of natural gas mains; 2,162 gas wells, and 3,475
oil wells.
During 1919 carried 112,586,749 passengers, sold 6,617,358 M.
cu.
ft. of artificial gas, 40,225,008 M. cu.
k.w. hours and
ft. of natural
produced 13,195,036 bbls. of oil.
gas
and 586,764,531
OFFICERS.—Pres., H. L. Doherty; V.-Ps.. E. Mackay Edgar, Frank
W. Frueauff, Thomas Carter and E. H. Johnston: Sec., Paul R. Jones
Treas., Louis E. Musil.
N. Y. office, 60 Wall St.—V. 109, p. 1702, 1795,
1990, 2174, 2266; V. 110, p. 362, 468, 564, 766, 874, 1190, 1410, 1427,
& Electric Co.—A trolley road.
Railway
(Ga.)
ORGANIZATION.—Incorporated in Georgia on April 1 1910.
Pur¬
Athens Elec. Ry. Co.
Leased for 99 years from May 1 1911 the
James White Power plant.
V. 90, p. 1101, 1423.
Hydro-electric stations
at Mitchell's Bridge, Tallassee Shoals and Barnett Sboals; steam station
in Athens.
Owns and operates entire street railway, electric light and power
systems in Athens.
Population served, over 21,00f.
Franchise unlim¬
chased
ited in time.
Fares.—A 6-cent fare is now in effect.
STOCK AND BONDS—
Interest.
Date.
Maturity.
Outstanding.
$750,000
Stock, com $750,000 ($100)__
Stock, pref (5%. cum) $300.Q-J
300,000 Jan. '20.1 K
000 ($100)~
5g J-J
366,000 July 1 1950
1st & ref M $2,000,000 gold!
1910
■inkingfund ($l,000)c#cpt, Int. at Farmers' Loan A Tr. Co., N. Y., Tr.
1901
6 g A-O
388,000 Oct 1 1931
Athens Electric Ry 1st mtge
$400,000
($1,000)
gold! Interest at Title Guar. & Trust Co., Atlanta,
Trustee, or Old Colony Trust Co., Boston.
c'cvt
Stock.—Preferred stock is redeemable at 105.
Bonds.—Of the 1st A ref. bonds, $388,000 are reserved to
retire under¬
lying bonds and $1,175,000 for acquisitions and improvements at 75% of
cost, but only when net earnings are 134 times int. on all bonds out and
those to be issued.
$50,000 are in treasury.
$21,000 have been retired.
Sinking fund ot 1% began in 1915.
Bonds are subject to call at 110.
V. 93, p. 665.
Of the Athens Elec. Ry. 1st M., entire issue, but no lesser part, may
be called at 106 and int.
See V. 73, d. 1311.
Dividends.—On pref., 6% per annum In 1904 and 1905. 514% in 1906,
6% 1907 to 1910, 5% in 1911 and to and incl. Jan. 1920.
Divs. on com.
are no longer reported as Cities Service Co. owns over 98% of same.
stock
Standard gauge 60-lb. A. S. C. E.,
and 5 other cars; 4 power plants,
ROAD.—Owns 8.93 miles of track.
70-lb. T and 108-lb. guard rails; 14 motors
7,850 capacity.
W. Frueauff & John E.
Office, Athens, Ga.—V.
OFFICERS.—Pres., C. D. Flanigan; V.-P., F.
Jr.; Sec. & Treas., J.
1191; V. 108, p. 169.
Talmadge,
107, p.
(3)
vice
M. Billing.
Bartlesvilie Gas & Elec. Co.—Entire stock owned by Cities Ser¬
This co. was formerly known
as the Bartlesvilie Interurban
Co.
Name was changed to present title in March 1920, at which time the
co. abandoned its trolley system and tore up its tracks
The 1st M. bonds
which were a 1st lien on this property were exchanged for similar bonds of
the new co.
(See V. 110, p. 1860.)
As the co.'s operations are now con¬
fined solely to gas & electric business we have eliminated the co.'s state¬
ment from this supplement.
V. 110, p. 1088,1186.
For history of Bartles¬
vilie Interurban Ry. see "Electric Railway" Supplement of Nov. 15 1919.
Ry.
(4)
City Light & Traction Co.
ORGANIZATION.—Incorp. in July 1912 in Missouri as successor to the
sold at foreclosure
V 95. n 419
See plan under
Sedalia Lt. A Trac. in V. 94, p. 1058.
Purchased Sedalia Ice, Lt. A Fuel Co.
Does entire artificial gas, electric light and power, and electric railway
business in the city of Sedalia; also manufactures and sells ice.
Franchises.—Gas expires in 1926; electric in 1940; and railway in 1940.
Rate Increase.—Effective Oct. 1 1918 was auth. to increase gas rates
Redalla Lt. A Trac. Co..
by about 20%.
V. 107, p. 1384.
Fare Increase.—Effective Oct. 3 1919 was auth. by the Ma. P. S.Comm.
to increase fares to 6 cents.
The co. had applied for auth. to charge 7
cents.
V. 109, p. 1891; V. 110, p. 167.
Outstanding.
Maturity.
Date.
Interest
STOCK AND BONDS—
$1,000,000
Common$1,000,000
($100)-Pref $500,000 (see text)
First
Dv
rold
400.000
($100)
mortgage
$2,500,000] 1912
sink fd ($100. $250,1 Int. at
1500,
N. Y. New York Trust Co., N. Y., A
c*cptf
$1,000)
5 J-D
922,000 June 1 1952
office of co. or H. L. Doherty A Co..
Sedalia Trust Co., Sedalia, Mo., Trustees.
1
Sinkfd. of 1% of bonds out commences June 1 1922; red, at 105 and int.
on 4 weeks' potice.
Additional bonds may be issued for 85% of impts.
Divs. on pref. were paid for the year 1913 at the rate of 1 %, and increased
by 1% each year until 1917, when 5% was reached.
Divs. are payable
June and December.
Divs. are guar, by Gas Securities Co.
Pref. stock
convertible into bonds, $ for $, under certain restrictions.
miles of track.
18 motor and 12 other
Standard gauge, 50 and 70-ib. rails.
Has steam power plant with
2,200 k. w. capacity.
46.91 miles distribution lines.
Has 25.17 mile
is
ROAD.—Owns and operates 8.3
cars.
/
mains.
of gas
Mgr. A Treas., H. O.
O'Bannon.—V. 107, p. 1384; V. 1«9, p. 1891; V. 110,
OFFICERS.—Pres., F. W. Frueauff: V.-P., Gen.
Feuers; Sec., Allen
p.
167.
(5)
Cumberland & Westernport Electric Ry.
Co.—A trolley road.
ORGANIZATION.—Organized in Maryland on April 11 1902 by special
Legislature, as successor to the Frostburg Eckhart A Cumberland
Ry.
Ha* absorbed the Lonaconlng Midland A Frostburg Ry. and the
Act of the
Westernport A
Lcmaconing.
been auth. to charge a 7-cent fare.
Fare Increase.—Has
STOCK AND BONDS—
Interest.
Date.
Outstanding.
Maturity.
Stock $1,000,000 ($50V
$625,000
West'p't A Lonac'g, $225,0001 1903
5 J-J 15
225,000 Jan. 15 1928
($500 A $1,000) —
cpt/Int. at Real Estate Trust.Co.,Phila., Trus.
FroatEck A Cum 1st M $250.-1 1901
5 g J-D 16
230,000 June 15 1926
000g ($500A$l,000).c»cpt! Int. at Real Estate Trust Co., Phila.. Trust.
Lonac Mid A Frost first mtge]
1901
5 g J-D 15
200.000 Junel5 1920
$200,000 g ($1.000)._c»cpt/Int. at Real Estate Trust Co., Phila.. trust.
The above bond issues are callable at 105 and int.
operated under trackage rights) of
Cumberland. Eckhart, Frostburg, Lonaconing and Westernthrough other communities; 60, 75 and 92-lb. T and girder
rail; standard gauge.
19 motor cars and 1 other car.
OFFICERS.—Pres., H. L. Doherty; V.-P., B. W. Duncan and F. W.
Frueauff; Sec.-Treas., H. N. Beckett; 3d V.-P. A Mgr., D. D. Price.
—V. 99. p. 537, 608; V. 104, p. 2451.
(6) Maumee Valley Railways & Light Co.
ORGANIZATION.—Incorp. in Ohio on Dec. 13 19f2 as a consolidation
of the Toledo A Maumee Valley Ry. and the Toledo Waterville A Southern
Ry.
Cities Service Co. owns 99% of the co.'s stock ^$1.000,000 auth.
and outstanding) and all of the co.'s $500,000 outstanding 434% cons.
ROAD.—Operates 27.40 miles (2.50
port, passing
1st M.
Net
Int.
V.-P., A. Swartz; Sec.,
II. T. Ledbetter; Treas., A. C. Van Driesen.
track between
Dec. 31
Gross
[VOL. 110.
RAILWAYS
4)4% bonds.
Interest. Outstanding.
Maturity.
Ryl 1895
534
300,000 Mar. 1 1921
M$300,000($l,000)cntf /Int. at Metropolitan Trust Co., N. Y. Trus.
BONDS.—The Tol. A Maumee Valley 1st M. bonds were originally 5s
and matured Mar. 1 1920, but were extended to Mar. 1 1921 [optionally to
Mar. 1 1922] at 5%—for details see V. 110, p. 765.
ROAD, Ac.—Operates an interurban belt line connecting the city of
Toledo and villages of Maumee and Perrysburg.
23.21 miles of track
(8.4 operated under trackage rights); standard gauge; 50-70-lb. T rail;
UNDERLYING BONDS— Date.
Toledo A Maumee Valley
1st
9 motor cars.
Mgr., Frank R. Coates; V.-P., Rathbun
Ledbetter; Treas., A. C. Van Driesen.
OFFICERS.—Pres. A Gen.
Fuller; Sec., H. T.
(7) Meridian Light & Railway
Co.
ORGANIZATION.—Incorp. in Mississippi in Feb. 1901 as a reorganiza¬
of the Meridian St. Ry. A Power Co.
Does entire street railway,
artificial gas and electric business in Meridian.
Owns all the stock of the
Hattiesburg Trac. Co.
Franchises are for 50 years from Oct. 4 1895 for
street railway and from Dec. 1900 for gas and electricity.
Rates.—In Aug. 1918 the Federal Court issued an order restraining the
City of Meridian from interfering with the co. in increasing fares to 7
cents (4 tickets for 25 cents), power rates 28 to 40% and gas rates 30%.
V. 107, p. 603.
tion
Maturity.
Outstanding.
Interest.
Date.
STOCK AND BONDS—
Common$5,000,000 ($100)--- ....
$2,000,000
lat mtge $750,000 gold ($500\ 1904
5 g M-S
750.000 Mar 1 1944
and $1,000
c*/Int. at First Nat. Bank of Mobile, trustee.
Gen
mtge sf
$5,000.0001 1910
5 M-S
1,033.000 Mar 11945
{$1,000)
__gc*cpt/First Nat. Bank of Mobile, Trustee.
Bonds.—A sinking fund of 1% of 1st M. bonds became operative Sept. 1
1906.
$148,00© of outstanding bonds are held in sink. fund.
Bonds are
subject to call ©n 3 weeks' notice at 105.
V. 92, p. 1311.
There are
$181,000 gen. mtge. bonds in treasury in addition to amount reported out¬
standing.
$750,098 of gen. mtge. bonds are reserved to retire 1st mtge.
bonds and $3,036,880 may be drawn for 85% of impts., Ac.
Sinking fund
of 1% of gen. mtg*. bonds out began Sept. 1 1917, $11,000 held in sinking
fund.
Red. at 105 en 4 weeks' notice.
Int. at office of trusteeor agency of
in N.
CO.
Y.
;;
■:
/V-'V:;';. '/•,
ROAD.—13.304 miles of track,
standard gauge, 70-lb. T rail and
98-lb. girder and groove.
16 motor and 2 other cars.
capacity 5,220 k. w.( 83.98 miles distribution line.
Has
gas mains.
to
OFFICERS
73
Power station
29.18 miles of
H. L. Doherty; V.-P., F. W. Frueauff; V.-P.,
E. Malone; Sec. & Treas., L. H. Archer.
V. 90, p. 914;
92, p. 1113; V. 107, p. 603.
—Pres.,
A Gen. Mgr., Tf.
V. 91, p. 336; Y.
93
ELECTRIC RAILWAYS
Ape., 1920. J
STOCK AND BONDS—
Maturity.
See text
Outstanding.
Interest.
Date.
$3,500,000 ($100)
Q-J
$3,500,000
5%
cumulative!
5 Q-J
1,560,000
$2,500,000 ($100)
f
I
First
mtge $5,000,000 gold! 1902
5 g M-N
5.000.000
($1,000)
c*_cpt J Interest payable in New York,
Com stock
Pref
stock
Ja*.*20.l4£
Nov 11937
($15,000,000)1 1916
5 g J-J
696.000 July 1 1946
$500, A $1,000) ^Interest payable In New York.
1st A ref mtge
gold ($100,
c*.tfj
Bonds.—The
1st A
first Hen on the interurban
Mo., and a general lien on remaining
ref. mtge. bonds are a
line between St. Joseph and Savanna h,
property, subject to $5,000,000 1st M. 5s, for retirement of which an equad
amount of 1st A ref. 5s is reserved.
Additional bonds may be issued only
of cost of add'ns, exts., Ac., under conservative restrictions, or for
85% of 1st M. bonds retired through the supplemental sinking fund.
Sinking fund, 1% of bonds out, for purchase or red. of bonds of this issue
at 102M. or of 1st M. bonds at 105; or, at option of co., 2% for construc¬
tion, acquisitions, add'ns or impts.
While any 1st M. bonds are out¬
standing, the co. must pay, as a supplemental sinking fund, an additional
1% of the amount of bonds of that issue outstanding, to be applied as above
set forth, or may expend in construction 1% of the amount of the bonds
outstanding.
1st A ref. M. bonds canceled in sk. fd. but 1st M. kept alive
for 85%
until all bonds have been
First A ref. bonds are
deposited with the trustee.
on any int. date at 102H and int.
Trustees are Bankers Trust Co.,
Y., and Mississippi Valley Trust Co., St. Louis.
Legal investment for
Maine savings banks.
V. 103, p. 1302.
Trustees for the 1st M. bonds are
Equitable Trust Co., N. Y., and Missouri Valley Trust Co., St. Joseph
Bonds cannot be called.
V. 75, p. 1032.
The 1st M. bonds are listed on
the Phila. and Louisville stock exchanges.
red.
N.
(a) Hattiesburg Traction Co.
Meridian Lt. A Ry. Co. owns all the
stock.
ORGANIZATION.—Organized in 1905 as Hattiesburg Traction, Light
& Fuel Co.
Name changed to above in Nov. 1906.
Sept. 2 1907 purchased
Hattiesburg Gas Co. and Hattiesburg Light A Power Co., giving company
control of artificial gas, street railway and electric-light and power business
of city.
Electricity and street railway franchise 25 years from 1906; gas
franchise expires in 1930.
Has contract for lighting city streets.
Fare Increase.—-On Aug.
20 tickets for $1 25.
1918 put into effect a 7-cent cash fare with
1
V. 107, p. 802.
Maturity.
$500,000
life mtge $300,000
($1,000)1 1908
6 J-J
244.000 Jan
11928
gold
rAc*cpt]Int. at Guaranty Trust Co., N. Y., Trustee
Gen lien mtge $2,500,000 goldf 1912
6 J-J
324,000 July 1 1952
($1,000)
c*cpt(Int. at office or agency of Co. N. Y., or at
Stock $500,000 ($108)
(First Nat. Bk., Mobile, trustee.
$5,000 bonds annually, be¬
ginning Jan. 1 1909, at a premium up to a 5% basis, bonds cannot be called.
V. 87, p. 97; $56,000 have been retired.
Of gen. lien bonds, $244,000 are
reserved to retire 1st mtge bonds.
Bonds are callable at 105 & int. on any
int. date on 4 weeks' notice.
Sinking fund, 1%, began July 1 1916.
ROAD.—8.665
of track.
Standard gauge, 70-lbs.
13 motor and 3 other cars.
Power house
miles
E.—T rail.
A. S. C.
LATEST EARNINGS.—For 12 months
Gross
Exp. &
2,100Jk. v. a.; 10.05 miles transmission lines
Has 12.99 miles of gas mains.
and over
capacity,
and 26.05 miles distribution lines;
12 Months—
1919
1918.
Earnings.
$2,053,384
—-
1,688,284
Taxes.
ending Dec. 31:
Net
Earnings.
Charges.
Balance.
$288,645
$284,000
$3,845
395,748
287,550
108,198
Standard gauge; 50-70-lb. T and
$1,764,739
1,292,536
miles of track.
PROPERTY.—60.2
A
2 months
1912; dividends have been paid
succeeding the regular payment in Dec.
quarterly since to Sept. 1919.
-
Bonds.—Skg. fd. retires 1st mtge. by purchase
pref. stock since Oct.
1909, 2%; 1910, 2%;
1911, 2%. In 1912, Mar., J4%; June, H%; Sept., H%; Dec.,
dividend at the rate of 2% per ann. was paid Feb. 1 1913 for the
Outstanding.
Interest.
Date.
STOCK AND BONDS—
Dividends.—5% per ann. has been regularly paid on
First div. on com. stock paid Dec. 1908, 1%; in
1902.
in
girder rails; 120 motor and 96 other cars.
Generating plant capacity,
12,600 k.w., (new 10,000 k.w. turbine now being installed);23.29 miles of
primary and 271.11 miles distributing lines.
OFFICERS.—Pres., F. W. Frueauff, N.
Y. City; V.-P. A Gen. Mgr.,
A Treas., J. R. Abercrombie, St. Joseph.
Transfer Agents of Stock.—E. W. Clark A Co., Philadelphia, Pa.—V. 106
2650; V. 107. p. 2098; V. 108, p. 270; V. 109, p. 2440; V. 110, p. 872.
B.C. Adams, St. Joseph; Sec.
p.
(10)
Toledo, Ottawa Beach & Northern
Ry. Co.
27 1906 as a consolidation
Ry. Co. and Ottawa Beach A Southern Ry.
Co.
Franchise expires in 1929.
Cities Service Co. owns over 99% of the
co.'s $1,500,000 (auth. and outstdg.) capital stock and all of the outstand¬
ing $450,000 1st M. 5% bonds ($1,500,000 auth.).
ROAD, Ac.—Operates an electric railway between Toledo and Toledo
ORGANIZATION.—Incorp. in Ohio on Oct.
of the Toledo A Point Place
OFFICERS.—Pres., F. W. Frueauff, N. Y.; V.-Ps., H. F. Wheeler.
Hattiesburg, and H. H. Scott, N. Y.; Sec. A Treas., Howard McDavid,
Mgr., H. F. Wheeler, Hattiesburg.—V. 93, p. 731; V. 95, p. 679;
V. 107, p. 802.
Gen.
Beach, Mich.; also operates a
branch line connecting Toeldo with Point
Supplies energy for light and power service along right of way.
operated under trackage rights); standard gauge
60-lb. T rail; cars leased.
OFFICERS.—Pres. A Gen. Mgr., Frank R. Coates; V.-P., Rathbun
Fuller; Sec., H. T. Ledbetter; Sec., A. C. Van Driesen.
Place, O.
Richland
(8)
26.59 miles of track (9.84
Public Service Co.
Ohio in Oct.
ORGANIZATION.—Incorp. in
27 1917.
Acquired on
Apr. 1 1918 the property of the Mansfield Public Utility & Service Co. (see
this Section for Jan. 1918).
Has also acquired the physical property of the
Mansfield Gas A Light Co., and the Mansfield Elec. Light A Power
Co.
Does the entire electric railway, electric light and power and a portion of the
business in Mansfield and operates an interurban electric railway be¬
tween
Mansfield and Shelby.
Natural gas franchise expires in 1936.
Artificial gas franchise unlimited as to time.
Railway franchises expire in
1925; electric franchise unlimited as to time.
In Sept. 1918 was granted a
25-year traction franchise by the city of Mansfield providing for a straight
5-cent fare until Jan. 1 1920 at which time that section of the ordinance re¬
lating to fares was amended to allow single cash fares of 7 cents each with
4 tickets for 25 cents,
These rates are to remain in force until Jan. 1 1921.
In Mar. 1920 co. issued $850,000 2-yr. secured 7% notes. V. 110, p. 1189.
gas
Date.
STOCK AND BONDS—
Stock $3.200,000
Interest.
—
Maturity.
Outstanding.
$3,200,000
5 g A-O
742,000 Oct. 1 1937
gold ($100, $500 A $1,000) • Int. at co's. office or agent, N. Y. or First
Trust & Savings Co., Cleveland, trustee,
-C*tf
7 g MAS
850,000 Mar 15 1922
Sec notes $1,500,666 ($100, f 1920
$500 & $1,000) gold
tfl Int. at Union Trust Co., Chicago, Trustee.
1898
5 A A O 1
200.000 Apr. 1 1923
Citizens Elec Ry, Lt A Pow 1
—
—
1917
Bonds.—$2,000,000 1st & ref. are pledged as collat. to the $850,000
15 1922.
Bonds have sinking fund of 1% of outstanding
Oct. 1 1920.
Additional bonds may be issued for
80 or 90% of impts. on certain conditions.
Red., all or in part, at 102 and
Int. on any int. date on 4 weeks' notice.
i •
notes due Mar.
bonds yearly beginning
$2,000,000 1st & ref. bonds.
Red.
15th of any month at 102 and int. on or before
V. 110, p. 1189. The car
Notes.—Are secured by pledge of
28 days' notice on the
15 1921 and at 101
Mar.
trust notes are
and int. thereafter.
due serially up to Nov. 1 1923.
ROAD. AC.—Owns and operates
22.42 miles in and between Mansfield and
Shelby.
Standard gauge 70-lb. rail.
27 motor cars.
Power plant at
Melco, O., with 10,000 k.w. capacity.
An additional 10,000 k.w. turbine
unit is being installed. 34.7 miles transmission and about 50 miles distri¬
bution lines.
37.41 miles of gas mains.
OFFICERS.—Pres.,
H.
L.
Doherty; V.-P., Wm.
George C. Blankner, N. Y.; V.-P., & Gen. Mgr., F.
& Treas., J. E. Loiseau.—V. 107, p. 1385; V. 110, p.
H. Davey; V.-P.,
A. Chamberlain; Sec.
168, 1189.
St. Joseph Railway, Light, Heat & Power Co.
1 1913 the Cities Service Co. acquired control
(9)
On Jan.
the common stock.
Cities Service
5% div. on the outstanding pref. stock. V. 96, p. 136.
over
Co.—A holding company.
ORGANIZATION.—Incorp. In Maine on Jan. 31 1913 to acquire the
Toledo Rys. A Lt. Co. in connection with the re¬
organization of that company per plan in V. 95, p. 1040; V. 96, p. 361,
In June 1916 minority shareholders were given further opportunity for a
limited time to exchange stock on original basis.
V. 102, p. 2344.
Over
92% of the stock has been acquired.
The Toledo Traction, Light A Power Co. owns stocks and bonds of the
following companies:
Tot. Bds.
Bonds
% Com.
stock and bonds of the
Outslan'g.
$4,000,000
14,495,000
Name of Company—
Acme Power Co.
Toledo Rys. A Lt. Co
Owned.
Stk. Owned
$4,000,000
100
12,211,600
92.9802
—
Cons Mtge $400,000 ($500)c (Cleveland Trust Co., Cleve., Trustee.
7%
32,000 See text.
Car trust notes
on
Toledo Traction, Light Sc. Power
acquired over 95% of the outstanding common and
96% of the preferred stock.
V. 103, p. 1119.
'
1st & rer M sk fd $8,000,000
—
(11)
Cities Service Co. has
95% of
and now owns
guarantees the
See also V. 97, p.366
Co.
Missouri on Nov. 8 1895 as a con¬
Traction A Lighting Co., People's Ry., Light
ORGANIZATION.—Incorp. In
solidation of the St. Joseph
Citizens' Ry. Co., Union Ry. Co., St. Joseph & Lake Ry. Co.
and Wyatt Park Ry. Co.
Controls the entire electric light and power and
central heating business, and owns and operates the street railway system
in St. Joseph, Mo., and an interurban line between St. Joseph and Savan¬
nah, Mo.
Principal railway franchises are perpetual; others expire from
1935 to 1958.
Franchise for electric service unlimited in point of time.
Franchise for heating service expires in 1944.
During 1912 a contract was made with the Kansas City Clay County A
St. Joseph Ry. (see under "Kansas City"), under which that company's
cars from Kansas City are operated over the tracks of this company.
A Power Co.,
Mortgage.—In 1916 the Mo. P. S. Comm. auth. the company
issue of 1st A ref. M. sinking fund 5% 30-year bonds, and
with the St. Joseph A Savannah Interurban Ry., a Joint mort¬
gage to secure the bonds.
$751,000 of the new bonds were issued, of
which $326,000 to replace a like amount of St. Jos. Ai Sav. Int. Ry. 5s
(paid off April 1 1917 at 102 H and int.) and the remainder for extensions
New
to create a new
to execute,
and additions.
.
Increase.—In June 1918 was auth. by the Mo. P. S. Comm. to In¬
lighting rates to 9 mills per k. w. h., effecting an increase of $8,000
monthly in revenue.
V. 106, p. 2650.
Rate
crease
Fares.—On Dec. 1 1919 a 7-cent fare went into effect on the co.'s lines
received an increase in wages of 8 cents per hour.
while the co.'s trainmen
V. 109, p. 2440.
Compare V. 107, p. 2098.
On Jan. 7 1920 the co. filed suit against the
Mo. P. S. Comm. asking for
permanent injunction to restrain the Comm. from enforcing a 7-cent fare
and that the court order an 8-cent fare and higher lighting
and heating rates, the co. contending that present rates are confiscatory.
V. 110. p. 872.
a
in St. Joseph
Valuation.—Early in 1920 the Mo. P. S. Comm. fixed the value of the
making purposes at $5,800,000, while the co. holds
$11,521,639 is the fair valuation.
V. 110, p. 872.
co.'s holdings for rate
that
..$18,495,000
Total
$16,211,600
owns and operates a steam generating station on the
Toledo, with an initial installation of 20,000 k. w.
Is
now installing a second 20,000 k.w. unit.
V. 109, p. 1893. Entire output
delivered to Toledo Rys. A Lt. Co.
Ultimate capacity, 200,000 k. w.
Acme Power Co.
Maumee River at
Co. supplies without competition, electric light
and street railway service in Toledo and suburbs, operates a
Toledo Railways & Light
and
power
central station heating plant and distributes by-product gas. 118.058 miles
of track; standard gauge; rails, 100 lbs. A.R.A. type A; 378 motor cars and
23 other cars.
Power station capacity 63,930 k.w.
Appointed for Betterment Fund.—On April 10 1916 the Federal
appointed Capt. John Craig trustee for a betterment fund
6% of the gross weekly income of the street railway lines
la to be paid into the fund and used exclusively for unusual betterments
and for purchase of new equipment.
V. 102. p. 1437.
(Compare V. 102,
Trustee
Court at Toledo
for the
property.
1347.)
p.
held Nov. 2 1915 the citizens of Toledo de¬
to grant the company a new franchise for 25 years.
All the principal street railway franchises have expired
and cars are being operated without franchise.
Electric light and power
and gas and heating franchises unlimited in time.
Community Ownership Plan.—In Oct. 1917 the Street Railway Comm.
and the company agreed upon a plan, which provides for the organization
of a new company, with a new 25-year franchise, to be called the Community
Traction Co., to which the street railway property (exclusive of the power
plant and electric distributing system) would be transferred.
See V. 105,
p. 1803; V. 106, p. 716.
pares.—On March 30 1914 Judge Killits denied the application to
enjoin the enforcement of the ordinance providing for 3-cent fares, largely
on the ground that the matter was one for the State courts.
V. 98, p.
1073.
On Aug. 14 1914 Judge Killits, on the further hearing
of the
application of the company, ordered the city to prove that the terms of
the ordinance were reasonable.
On Sept. 12 1914 Judge Killits held that
the ordinance was unfair and confiscatory and granted a temporary injunc¬
tion restraining its enforcement.
A temporary fare schedule was put into
operation Sept. 15 1914 providing for a 3-cent fare from 5:30 to 7:30 a. m.
and 4:30 to 6:30 p. m., with six tickets for a quarter other hours (V. 99, p.
818), but the 3-cent fares were abolished In April 1916 after advance in
wages following the strike.
Effective May 9 1918 the company Instituted
a straight 5-cent fare (children under 8, 1 cent), with a 1-cent charge for
transfers.
V. 106. p. 2124.
The increase followed an increase of 6 cents
Franchises.—At an election
feated
V.
the proposal
101, p. 1554.
per
hour in
carmen^
Dist. Court at Toledo
wages.
On Aug. 2 1918 Judge
Killits in the U. S.
Toledo for a per¬
refused the petition of the city of
prevent the company from increasing its rate of fare.
V. 107, p. 803.
The city appealed but on June 7 1919 the Federal Court of
Appeals upheld the decision of the lower court.
V. 108, p. 2434. On June
25 1919 the co. increased fares to 6 cents cash with 2 cents extra for transfers.
The co. had recently advanced the wages of its car men 8 cents per hour.
V. 109, p. 73.
On Nov. 4 1919, as a result of this fare increase, the people
of Toledo voted to oust the company from the streets.
The company imAediately suspended the operation of its street railway system and removed
its cars to the State of Michigan.
On Dec. 5 1919 the company resumed
operation of its street cars at the same rate of fare which prevailed previous
to the suspension of service.
The company's requests were granted by the
court and inserted in the formal order for resumption of operation.
For
fuller particulars see V. 109, p. 2263,2357.
Compare V. 109, p. 21/2,1988,
1893; V. 110, p. 466, 659.
In March 1920 an ordinance was formulated by
manent Injunction to
the Service-at-Cost Commission and
transmitted to Judge Killits. The
proposed ordinance (see V. 110, p. 1189) was to be submitted to the voters
on April 27
1920, but, owing to the objection to some of its features by
Henry L. Doherty, its submission to the voters will be delayed probably
until Aug. 10 1920.
For details of proposed ordinance see V. 110, p. 1189.
94
In
ELECTRIC
April 1920 Judge Killits authorized the company to increase fares to
a 2-cent
charge for transfers, in order that the company might
increased wage demands of its employees, who had gone on strike.
7 cents with
meet the
V. 110, p. 1527.
On May 22 1913 the Ohio P. S. Comm. set aside the action of the Cit>
Council, which (on Jan. 29 1912) granted the company a new franchise for
5 years, but made the flat rate of 70c. per 1,000 cu. ft. for artificial gas for
both Illuminating and fuel.
The Commission allowed the old rate of 90c.
for gas for Illuminating purposes.
V. 96. p. 163.
Rates.—An Increase averaging about 37M% in
Sept. 5 1917,
was
heating rates, effective
approved by the Ohio P. U. Commission.
In Dec.
1919 the company brought out 310,000,000 first lien
gold bonds to refund in part an issue of $10,500,000 similar bonds
1920.
V. 109, p. 2357.
7% 2-year
due Jan. 1
The $1,200,000 second lien 7% 3-year conv. bonds, due Jan. 1 1921, were
called for payment Jan. 1 1920.
V. 109, p. 2074, 2264.
In Dec. 1919 the co. brought out an issue of
vertible debentures.
STOCK AND BONDS—
Dale.
Common $9,200,000 ($100)
Pref $8,000,000 ($100) 6% cum
$3,000,000 3-year 7%
con¬
Outstanding.
Maturity
$7,840,539
*
-
6,661.675
See text
10,000,000 Dec 1 1921
J-D
n.y.tt.Co.,n.y-,»trustee
5 A-0
2,013.000 Oct
1 1935
7
&/ 1919
g
.,ooo)^i;i-:::::.-:d*.tfiihtrixvnv^.
Toledo Gas Elec & Heat
Cof
1905
mtge $2,500,000 ($1,000,(Interest at Ohio Savings Bank & Trust Co ,
$500 and $100) not redeem. (.
Toledo, trus., or Nat. Bk. of Comm.,N.Y.
Toledo Gas Llgnt & Coke Co ( 1898
6 M-N
150,000
See text
$150,000 ($1,000) guaran-j Int. at Second Nat. Bank, Tol.; O.F.Adams.
teed prln and Int
EARNINGS.—For year end.
taxes, $48,703; other deductions
Dec. 31 1919, gross, $237,947; net, after
$46,682; bal.,£surplus, $2,021. In 1918,
$203,693;
net, after taxes, $43,302.
ROAD.—Owns 20.606 miles of track; 45 passenger and 10 other cars.'
OFFICERS.—Pres., B.B.Odell: V.-P.. A.L.J. Miller; Treas., H/B.
Odell; Sec., B. Jbryant Odell; Gen. Mgr., Frederick S .(Berry .V. 83,% p. 688;
gross,
V. 90, p. 1425; V. 92. p. 1566; V. 100, p. 1511.
newportTr.
|
i.
newport & providence ry. co.
In 1892.
Date.
Interest.
STOCK AND BONDS—
Common $300,000 ($100)
subject to call at
Outstanding.
/
1912
Maturity.
$300,000
150,000
-
Pref $150,000 ($100) non-cum
1st mtge $300,000 ($500)
5 g J-J
—
300.000 July
care Second Nat. Bank, Toledo
Trustee.
1901
5 J-J
333,000 Jan
1 1921
($1,000) guar prln & int. A Int. at Secur. Sav. & Tr. Co., Tol., Trustee.
3-yr conv debens $8,000,0001 1919 - 7 g J-D 1
3,000,000 Dec 1 1922
($100, $500 & $1,000).c*.tf/Bankers Trust Co., New York, Trustee.
Car trust ctfs. & real est. mtge.
330,500
BONDS.—Remaining first lien bonds are reserve for improvements, &c.,
at 75% of cost and under certain conditions.
The bonds are secured by
deposit of the following securities: $5,999,000 (all) Toledo Trac. Co. 5%
(now 6%) cons. 1st M. bonds; $6,000,000 (all) Toledo liys. & Light Co. 4%
(now 6%) cons. 1st m. bonds; $4,000,000 (all) Acme Power Co. 1st m. 7%
bonds; $137,600 (out of $2,013,000) Toledo Gas. Elec. & Htg. Co. 5% cons,
bonds; over 92% ($12,900,500) of the $13,875,000 capital stock of The
Toledo Rys. & Light Co.; all the $4,500,000 capital stock, except directors'
qualifying shares, of the Acme Power Co.; also any and all stocks, bonds and
other securities hereafter acquired by the company.
Red. as a whole (but
not in part except upon terms set forth in trust indenture) on the first day
of any month on four weeks' notice at 101 and int. on or before Dec. 1 1920,
t
Tol Heat & Ltg Co $600,0001
11932
cpt'Infc. at Augusta (Me.) Trust Co., trustee.
par.c
EARNINGS.—For years ending Doc. 31:
ending—
Gross.
Net.
Taxes.% Int.ADepr.
Dec. 31 1919-_-.$160,584
$30,764
$8,324
$29,160
Dec. 311918
196,759
73,125
4,488
W 33,947
Year
Interest.
—
First lien $15,000,000 ($500
Bonds.—$425,000 1st & ret. bonds are reserved to retire prior liens and
remainder for improvements, &c. V. 90, p. 1425; V. 92, p. 1566.
Int. on
all above bonds is also payable at Quassafck Nat. Bank. Newburgh, N. Y.
ORGANIZATION.—Incorporated
466.
p.
[Vol. 110.
In Jan. 1919
the company applied to the Ohio P. U. Comm. for authority to put into
effect a service charge of 50 cents a month to domestic current consumers,
effective Feb. 1 1919.
V. 108. p. 481.
Valuation.—See V. 110,
RAILWAYS
Sur.orDef.
def.S6,720
sur.34,690
ROAD.—Operates about 15^ miles of track from Newport to Bristol
Ferry, where connection Is made by ferry to Providence; 70 and 90-lb. T
and
girder
rail.
17
cars.
OFFICERS.—Pres., Edward A. Brown, Newport; Sec.. Clark Burdlck;
Treas., Geo. E. Macomber, Augusta, Me. Supt. Geo. M. Towle. Newport.
—V. 95. p. 1403.
;;
■.
•
newtown, pa.
pennsylvania-new
jersey
railway
co.
Controlled by the Bucks County Syndicate.
.
—-
-
thereafter at
and
100 H and int.
Additional bonds of this issue may be
80% of cash cost or fair value of extens. and additions under
certain restrictions.
Pennsylvania 4 mills tax refunded.
The trust inden¬
issued
ture
for
provides that if the Toledo Rys. & Light Co., for the
of accejjt-
purpose
ing a new street railway franchise from the city of Toledo, shall desire to
effect the release of the strictly street railway property from the lien created
by said indenture, such release may be effected upon payment to the trustee,
for the redemption of outstanding bonds of this issue, of cash to an amount
not less than $1,900,000.
V. 109, p. 2357.
>
'
'
The Toledo Gas, Electric & Heating Co. bonds are guaranteed by endorse¬
ment by the Toledo Rys. & Lt. Co.
They are not subject to call. The Tol.
Gas Lt. & Coke Co. and Toledo Heating & Lt. Co. are guar., prin. & int.,
by the Tol. Lt. & Rys. Co.
Former issue was extended to July 1 1909,
then to Jan. 1
1912, at which time the holders decided to allow, them
to no definite date at 6%.
Convertible Debentures.—Are convertible at option of holder at any time
1920 into an equal amount of Cities Service Co. Ser. "D" 7%
conv. debentures
(see under "Cities Service Co." above).
In order to
to run
ORGANIZATION.—This
formerly the Bucks County Interurban
Ry., but corporate title changed under date of May 15 1917 to Pennsyl¬
vania-New Jersey Ry. Co.
The Bucks County Interurban was incorpor¬
ated May 13 1913 in Penna. as a consolidation of the Bucks County Electric
Ry., Trenton New Hope,& Lambertville St. Ry., Yardley Morrisville &
Trenton St. Ry. and Newtown & Yardley St. Ry.
V. 96. p. 1555.
Acquisitions.—On May 15 1917 acquired $500,000 of the $1,000,000
of the N. J. & Pennsylv. Trac. Co. (which see under "Trenton, N.
J."),
the remaining $500,000 being canceled, and the stock of the Trenton City
Bridge Co., and the Pennsylvania New Jersey Pow. & Lt. Co. (now
Bucks County Electric Co.). all controlled by the Bucks County Syndicate.
Fares.—Effective Mar. 25 1918 was auth. by the P. S. Comm. of Penn¬
sylvania to increase fares from 5 to 6 cents, and on Sept. 26 1918 a further
increase to 7 cents was authorized, on account of a wage award by the
National War Labor Board.
STOCK AND BONDS—
Common $500,000
Pref
6%
cum
this conversion
privilege to the holders of the co.'s debentures the
Cities Service Co. has deposited with the Bankers Trust Co. $3,000,000 of
its Ser. "D" 7% conv. debentures to be held subject to the exercise of the
conversion
privilege.
The remaining $5,000,000 of the co.'s debentures are
issuable only under certain restrictions of the trust agreement.
Are call,
all or in part any time on or before Dec. 1 1920 at 102%; thereafter to Dec. 1
1921
at
101% and thereafter to maturity at 100348%.
Gross earnings
$8,559,552
$7,551,931
$6,3.53,240
$5,653,013
Net, after taxes
2,002,755
1,952,223
1,900,175
1.844,623
ROAD, &c.—Street railway lines in Toledo, about 119 miles of track.
A new central generating station was completed in March 1918 with an
initial capacity of 20,000 k. w., and will have an ultimate capacity of from
200,000 to 300,000 k .w.
An additional 20,000 k. w. unit is now being
installed.
v-.
■'1
"
■**
■"*
•
OFFICERS.—Pres., II. L. Doherty; V.-P.'s, Frank W. Frueauff and
Thos. I.Carter; Sec.Edgar E.McYVhiney; Treas., Louis F. Musil.—V. 106,
p. 1345; V. 109, p. 73, 1893, 2074, 2264, 2357; Y. 110, p. 1643.
(12
/Toledo & Western Railroad Co.
ORGANIZATION.—Incorp. in Ohio
On Jan. 1 1907
Cities Service Co.
owns
99% of the company's stock.
Date.
.Interest.
Outstanding.
$2,000,000
over
STOCK AND BONDS.—
Common $2,000,000 ($100)
Tol & West Ry 1st M
—
—
$1,250,-/ 1901
—
_
Maturity.
—
_
—
1,250,000 July 1 1926
5 g J-J 1
000 ($1,000) g_c*&r.ntf--lint, at Clev. Tr. Co. Cleve., O., trustee, or
1
or Nat. Bank of Commerce, N. Y
Toledo & Western Ry 1st consf 1905
5 g A-O 1
• 500,000 April 1 1930
mortgage
$2,500,000
($l,-{Int. at Cleve. Trust Co., Cleve., O., trustee,
or ficsal agency in New York,
000) gold
gr&c*
Toledo Fayette & Western Ry
1902
5 g J-J 1
250,000 July 1 1927
1st mtge $250,000 ($1,000) Int. at Cleveland Trust Co., Cleve., trustee,
gold
c*
Natl. Bank of Commerce, New York.
Toledo & Western Ry.
or
6%
—
Outstanding.
$497,400
500,000
Maturity.
$3,000.-] 1917
5 g F-A
1,250,000 Feb 1 1942
000($500&$1,000) red 102 H Jlnt. at Northern Trust Co.. Phila., fisc. agts.
EARNINGS.—For 12 mos. ending Dec. 31 1919, gross, $239,326; net
(after taxes). $17,989.
In 1918. gross, $258,357: net (after taxes), $40,502.
ROAD.—Operates 49.49 miles
extending
from
terminal
in
Trenton
through Morrisville and Yardley, Pa., to New Hope, Pa., and Lambertville
N. J., from Yardley to Newtown; also from Bristol to Doylestown via
Newtown.
Leases .2 miles in Doylestown and has trackage rights over
Trenton City bridge and tracks of New Jersey & Penna. Traction In Trenton
to Terminal at Warren and flanover.
Gauge. 5 ft. 2% inches.
OFFICERS.-—Pres., Sydney L. Wright; V.-P <fc Geo
Mgr
Gavlord
Thompson' Sec. & Treas., John M. Morrissey.
Phila. office, 133 S. 5th St.
niagara
falls, n. y.
NIAGARA GORGE RY.
ORGANIZATION.—Incorporated In New York June 3 1899
as successor
to the Niagara Falls & Lewiston. sold at receiver's sale May 23 1899.
Ex¬
tends from Onondaga St., Lewiston, along the bank of the Niagara River
to the City of Niagara Falls.
Was formally opened July 1 1899.
Also con¬
trols
the
franchises of
and
the
Buttery Whirlpool Rapids Co., the Niagara
Whirlpool Rapids Elevator Co. Has
the Niagara
agreement with the Niagara Falls Park & River Ry. Co. allowing cars of the
Gorge road to run over that company's lines across the arch and Suspension
bridges to Table
Rock and
Dufferin's Island.
Leases
the
Lewiston
& Youngstown Frontier
RR.
and
owns
all
of Its
stocks and bonds.
STOCK ANL BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock, $1,000,000 ($100)
First
mortgage
$1,000,000
$1,000,000]
1907
5 g J-D
949,000 June 1 1927
c&r/Int. at Commonwealth Tr. Co., Buffalo, Tr.
($1,000) gold_.L
Bonds.—$51,000
bonds are In treasury.
ROAD.—Owns 15-8 miles of track from Niagara
Falls to Lewiston and
Lewiston &
Youngstown Frontier Ry., 8.7 miles; total operated,
leases
24.6 miles.
Also has trackage rights over 1 mile of double track of Inter¬
national Ry. in Niagara. 53 passenger cars, 17 service cars and 1 snow plow.
EARNINGS.—For fiscal years ending Dec. 31:
Cal.
on Dec. 11 1906.
acquired the property of the Toledo & Western Ry. Co., which succeeded
to the properties and franchises of the Toledo Fayette & Western Ry. Co.
Interest.
—
1st M. & Coll Trust g
Rapids View Co.
EARNINGS.—Of the Toledo Rys. & Light Co. and allied roads:
Yr.end.Jlj/.31.'
—Years ending Dec. 31
1919
1918
1917
1916
Date.
($50)
$500,000 ($50)
after July 1
secure
was
Year—
Gross.
Net.aft.Tax. Oth.Inc. Int..Rent,Ac.
Balance.
$53,993
$909
def. $2,856
$57,758
136,292
30,671
869
65.015
def. 33,475
OFFICERS.—Pres., Mrs. Joseph T. Jones; V.-P. & Gen. Mgr.. Bert L.
Jones; Sec., Grosvenor L. Corliss; Treas., Kendall B. Hassard, all of Buffalo;
Aud., A. B. Einer, Niagara Falls.
General offices, Niagara Falls. N. Y.—
V. 84. p. 868.
1919
$196,730
1918---
...
(1) Lewiston & Youngstown Frontier Ry.
ORGANIZATION.—Chartered Aug. 1895.
Owns from Lewiston to
Youngstown and Ft. Niagara, 7.5 ra.; sidings and switches, 2 m.; total, 7.7 m
Is
leased
by
th
Niagara Gorge RR.. which also owns all of Its
stock
and
bonds.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Stock, $150,000 ($100)
First
mortgage
($1,000) gold
Maturity.
$134,000
$150,000/
1896
6 g J-D
150.000 June 1 1916
c*\Int. at Buffalo L„ T. & S. D. Co.. BufL.Tr.
owned by Cities Service Co.
These are red., all or part, at 105 and
on 4 weeks" notice.
The Tol. Fay. & West. Ry. 1st M. 5s are red. at
100 and int. on any int. date.
are
int.
ROAD, &C.—Operates an interurban railway extending from Toledo to
Sylvania, Metamora, Lyons, Morenci (Mich.), Fayette and Pioneer, a
distance of 59 miles, with a branch line extending from Allan Junction near
Toledo northwesterly through Blissfield, Palmyra, Madison and Adrian,
Mich., a distance of 21 miles; also furnishes energy for light and power
service along right of way.
Track. 86.93 miles (9.14 operated under track¬
age rights); standard gauge; 50-70-lb. T rail; 14 motor passenger cars, 5
motor baggage cars, 1 motor work car and 5 electric locomotives; 120 freight
cars
and 5 other
cars.
OFFICERS.—Pres.
&
GENERAL GAS &
ELECTRIclxL—See
Gen.
Mgr., F. R. Coates;
Sec., II. T. Ledbetter; Treas., A. C. Van Driesen.
V.-P.,
A.
Swartz;
northampton, mass.
northampton street railway.—a trolley road.
ORGANIZATION.—Chartered
Increase.—In
co.
Dec. 1917
the P. S. Comm. auth. the co. to increase
Newburgh from 5c. to 6c.
STOCK AND BONDS—
Stock $150,000 ($25)
Pf $175,000 6% n-cum ($25)
First and refunding mortgage
Date.
Interest.
Outstanding.
$150,000
Maturity.
175.000
-
5 J-J
264.000 July 1 1960
$750,000
tflUnion Trust Co., Albany, trustee.
Newb Elec 1st M ($250,000)
_[ 1894
5 g M-N g
250.000 May 1 1944
gold ($500) not red
tfllnt. at Columbia Tr. Co., Trus., N.Y. City.
Walden & Orange Lake
first/ 1895
5 g J-D
100,000 June 1 1945
mtge gold guarjp & 1
tfllnt. at Hamilton Trust Co., Brooklyn.
Newb & Orange Lake 1st M
1894
5 g J-J
75.000 July 1 1944
g ($500) p & i guar._c*tf (Int. at Columbia Tr. Co., Trus., N.Y. City.
[
1910
On
Jan.
7
1911
Mass.
books between Northampton and
Williamsburgl
In July 1918 was auth. by the Mass. P. 8. Comm. to establish additiona.
systems, in lieu of the proposed increase from 5 to 6 cents in the fare
zone
V. 107, p. 83.
Effective Jan. 30 1919,
was
auth. by the Mass. P. S.
Comm. to increase fares from 5 to 7 cents. V. 108, p. 172.
Service at Cost.—In Aug. 1918 the co. notified the Mass. P.
that a service-at-cost system would be adopted.
V. 107,
ORGANIZATION.—Organized Oct. 16 1901 and acquired the Newburgh
Electric Ry. Co., sold under foreclosure.
The Newburgh Electric 1st
mortgage bondholders and the Walden & Orange Lake RR. and the New¬
burgh & Orange Lake RR. agreed to a reduction in their Interest from 6%
to 5%.
See V. 73. p. 138.
Fare
1873.
that the increase in the unit of fare from 5 cents to 6 cents was unreasonable
and excessive (V. 87, p. 1605; V. 88, p. 625), approved an increase in cash
fares between Northampton and Easthampton to 10 cents and the discon¬
unit.
fares in
29
tinuance of sale of ticket
"Ry. & Indus." Section
newburgh, n. y.
oranoe county traction
Feb.
RR. Comm. auth. company to Issuo $300,000 additional stock, of which
$200,000 was used to pay off $200,000 bonds that matured June 1 1910.
V. 92, p. 322.
On June 24 1913 the Mass. RR. Comm. auth. $150,000
additional stock.
V. 98. p. 554.
Fares.—In May 1910 Mass. RR. Comm., having decided in Feb. 1909
8. Comm.
p. 604.
Up to
Sept. 1919, however, this had not been carried out.
STOCK, Ac.—
Interest.
Outstanding. Divs., Ac.
»rnck $850,000 (par $100>
A-O
$850,000 Oct.'17,2H
Notes payable Dec. 31 1919
35,000
Dividends.—1901, 8%; in 1902, 8%; in 1903, 8%; in 1904, 6%: in 1905.
6%: on Dec. 27 1905, 3H%; In 1906. 3H%; in 1907. 7%, in 1908, 6%; in
1909. Jan.. 2V*%; in 1910, Oct.. 2%: in 1911 and 1912. 5%.
In 1913
5)4s%.
In 1914 to and incl. Oct. 1917 at the rate of 5% per annum
None since.
ROAD.—Owns
and
extension
27.490
from
Year—
3
Mt.
miles
of track,
Tom
Junction
including extension to Holyoke
to
Easthampton.
Operates 47
plows and 94 electric motors.
EARNINGS.—For year ending Dec. 31:
passeneer cars.
snow
T """£33
Gross.
Net. Int., Taxes, Ac.
Balance.
$276,768
$28,021
$18,449
sur.$9,572
1918--.
204,918
22,537
22,007
sur.
^530
OFFICERS.—Pres.. H. M. Tyler; Treas., H. J. Campbell: Gen. Mgr.
L. D. Pellissier, all of Northampton.—V. 92,
p. 322; V. 96, p. 554, 1840;
V. 99, p. 675; V. 107, p. 83, 604; V. 108, p. 172.
1919—
—
Ape., 1920.]
ELECTRIC RAILWAYS
Interest Payments.—All July 1915 interest
NOKWALK, OHIO.
SANDUSKY NORWALK & MANSFIELD ELEC. RY.—A trolley road.
Receivership.—On Nov. 15 1912 C. G. Taylor
appointed receiver for
the company and the controlled Plymouth & Shelby Traction Co., to suc¬
ceed C. B. Brooks (Treas. of the company), Geo. B. Duslnberre and Wilbur
Hoyt, who had been appointed receivers on Jan. 4 1912.
On July 1 1913
the Plymouth & Shelby Tr. Co. was released from the
receivership, but on
Nov. 15 1917 was again placed in the hands of C. G. Taylor as receiver,
because of question as to ownership.
It has outstanding §200,000 stock
and $200,000 bonds.
was
ORGANIZATION.—Private right of way except In cities, where fran¬
chises run 25 years from 1904.
Fare Increase.—In July 1918 was auth. to increase the mileage charge
effective Aug. 1 1918.
V, 107, p. 402.
Reorganization Plan.—In July 1919 minority bondholders of the co. were
reported as having approved a reorganization plan submitted by the majority
bondholders calling for (a) the retirement of the bonds in favor of a $400,000
stock issue; and (5) an assessment of 10% of the face value of the bonds
held, to give the co. funds to pay urgent debts and for working capital.
V. 109, p. 371.
The receiver, however, on Aug. 6 1919 wrote:
"While
there is an effort being made to reorganize the property, I do not think that
any definite plan has been made up to this writing."
V. 109, p. 578,
but
see V.
110, p. 466, 872.
In March 1920 an organization was formed to prevent this road from
being abandoned and sold for junk.
The following committee has been
appointed to raise funds and take other necessary steps: Prank G. Jones and
Eugene Englert, Norwalk; C. R. Irwin and Wilbur Hoyt, North Fairfield;
O. F. Ernest and Charles McCinchus, Plymouth, and Taylor Bealman,
Willard.
V. 110, p. 1090.
STOCK AND BONDS—
Interest.
Date.
Common
$360,000__-_
Pref, $240,000 non-cum
First
Outstanding.
$360,000
240,000
-
Maturity.
....
.
$600,000.1
1904
5 J-D
600,000 June 1 1924
gold
J Int .atSecurltySa v .Bk .&Tr .Co.,Toledo ,Trus.
Bonds.—Redeemable on any Int. day on 90 days' notice at 110 and Int.
Sinking fund $5,000 per annum June 1 1909 to 1913 inclusive; 1914 to 1918,
Inclusive. $10,000: 1919 to 1923, inclusive. $20,000.
EARNINGS.—For year ending Dec. 31 1918, gross, $50,888; net, $5,833;
taxes, int. on receivers' certifs., &c., $4,044; balance, $1,789.
In 1917,
gross, $54,568; net, $7,822; taxes and int. on receivers' certifs., $4,254;
balance, $3,569.
ROAD.—Operates 30 miles of track from Norwalk through towns of
North Fairfield, Steuben, New Haven and Plymouth, to Shelby, where
connection is made with the suburban lines of Mansfield; also a 23^-mile
extension to Willard, Ohio.
Standard gauge, 70-lb. T rail.
mortgage,
_
_.
OFFICERS.—Receiver, C.
G.
Taylor.—V.
NORWICH,
110,
p.
466,
872,
1090.
(Connecticut).
Receivership.—On Oct. 1 1919 Pres. R. W. Perkins was appointed re¬
co. by Judge J. H. Reed of the Superior Court, on
application
of the estate of the late Morton F. Plant.
Y. 109, p. 1367.
Foreclosure Proceedings.—In Jan. 1920 it was reported that the Old Col¬
ony Trust Co., Boston, had made application to foreclose the $2,725,000
1st M. bonds of the co.
V. 110, p. 168.
ORGANIZATION.—A merger, effective Nov. 1 1916, of the Shore Line
Electric Ry., Norwich & Westerly Traction Co., Groton
& Stonington
Street Ry., Ashaway & Westerly Ry. and the New London & East Lyme
Street Ry.
(See this Section for Sept. 1916 for separate statements of those
companies.)
Y. 103, p. 494, 1033.
Had a lease for 99 years from 1913
on that portion of the Connecticut Co. known as the New London Division
104 miles, but this lease was annulled by order of the court in Jan. 1920;
the co. continued to operate these lines until April 1920 at which time the
Connecticut Co. took over same for operation.
See "Chroncile" of April
ceiver for the
24
1920.
An Act of the Conn.
Legislature, approved May 16 1917, authorized the
company to increase its capital stock to not exceeding $8,000,000 and to
exchange such stock par for par for its notes or Its A and B debentures,
subject to the approval of the P. U. Comm.
No stock shall be issued at
less than par.
The company was also authorized to generate and sell elec¬
tricity to any electric light, heat or power company except in the towns of
Windham and Coventry, Conn., and any town where a company is already
in operation except with the consent of that company; also to
acquire stocks,
bonds, &c.. of any Connecticut electrical company.
V. 104, p. 2344.
Dismantlement of Certain Lines.—-In March 1920 it was reported that
the co. would shortly set about removing the rails and other equip, of the
line from Atlantic Beach at New London to Weekapaug.
V. 110, p. 971.
See also V. 110, p. 1189.
On July 15 1919 ceased operating line from New
Haven to Chester, also the line from Saybrook to Flanders Corner.
Fare Increase.—In Aug. 1918 was auth. by the I.-S. C. Comm. to in¬
crease fares between points in Connecticut and Rhode Island.
V. 107, p.803.
Strike.—V. 109, p. 477, 776, 1527.
Appeal for State Relief.—See Connecticut Co. under New Haven, Conn.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
$700,000
Preferred \ text J ($100)
300,000
First mortgage bonds
2,725,000
Groton & Stonington 1st Mf 1904
5 g J-J
475,000 July 1 1924
gold (assumed) ($ 1,000)_.c\Interest at International Trust Co., Boston.
Common
J Sec \
($100)_„
_
...
Debenture "A" bonds
en
ipH
TArie'
Sem/ti/•)pq
Ry 1st mtgef J900
5 g M-N
' 250,000 May 1 1920
$350,000 ($1,000) gold (can) Interest at American Trust Co., Boston.
not be called)
c*.tf(
Worc&Conn East IstMsfgl 1902
4K g J-J
1.992.000 Jan 1 1943
c*tf [Interest at N. Y. Trust Co., Trust.
$3,100,000 ($1,000)
Norwich St Ry first mtge,\ 1893
5 g A-O
350.000 Oct
2 1923
$350,000 ($1,000), g
ntf [Interest at American Trust Co., Boston.
Bonds.—Groton & Stonington bonds have no sink, fd., but are subj. to
call at any time at 120 and int.
Trustee Is Treasurer of State of Con¬
necticut.
Of the Worcester & Connecticut Eastern bonds, no more will
be issued.
A sinking fund on these bonds commenced in 1908 of not to
exceed 1% of bonds outstanding.
Bonds cannot be called, but may be
bought on a 3% basis or better, and kept alive for sink. fd.
See V. 75.
p. 1204.
$168,000 of amount reported outstanding held in sinking fund.
Of the Montville Street Ry. 1st mortgage gold bonds, the balance un¬
issued can only be issued for 66% of actual certified cost of impts. or ad¬
ditions to
property.
Original mortgage of the Montville Street Ry
provided that bonds might be called in 1905 at 105, but through a supple¬
mental mortgage this redemption clause was eliminated, so bonds are not
Montville Street
subject to call
EARNINGS.—For
now
•
year
end. Dec. 31
1919, gross, $1,238,469; net
after taxes, $193,508.
In 1918, gross, $1,578,739; net, surplies,
sifter t<ix6St $15 044*
|
ROAD.—Operates 234.58 miles of road of which 114.76 miles owned,
101.67 miles leased and 18.15 miles operated under trackage rights. Gauge
deficit,
4 ft.
8H inches.
Entrance to New Haven
over
tracks of Connecticut Co.
Private
right-of-way except through towns.
OFFICERS.—Pres., R. W. Perkins; V.-P..
Treas., A. E. Sherman.—V. 107, p. 803; V.
V.
110, p.
F
109,
doO.
p.
Sullivan;
subsequent coupons
as
1689, 2230: V. 107.
p.
funds become available. V. 106, p. 106. 397. 1462.
1288, 1748; V. 108, p. 172, 581, 880.
Default.—In July 1918 the
co. announced its inability to pay off the
$1,121,000 Oakland Transit Co. 1st M. 6s due July 7 1918.
Interest pay¬
issue are being continued pending reorganization.
ments on this
Financial Readjustment.—The committee appointed to consider
plans for
financial readjustment in its report dated May 16 1916 recommended
post¬
poning reorganization until fundamental changes have been made in the
nature and terms of the co.'s franchises
as a guaranty of
protection to new
(See city's partnership plan below.)
For report in detail, see V.
102, p. 2343.
Committee: F. B. Anderson, George A. Batchelder, J. F.
Carlston, B. H. Dibblee, John S. Drum, M. Fleishhacker, W. W. Garthwaite, Edward J. McCutchen, John D. McKee, Percy T. Morgan, A. F.
capital.
Morrison, G. K. Weeks.
■
City Partnership Plan.—The electors of Oakland on Nov. 7 1916 voted in
favor of the charter amendment authorizing the city to go into
partnership
with the co., in accordance with the plan of the Oakland Chamber of
Com.
merce
drawn up with a view to settling the co.'s financial and
operating diffi¬
The plan provides: (a) The co. to be granted a resettlement fran¬
culties.
chise of
an
indeterminate period on condition that the city may
buy out
the system on 6 mos.' notice and may transfer such
purchase right to a third
party; (b) net profits to be divided between the city and the co., the city
to
get not less than 55%, the company to be allowed 0% on its valuation
a proper amount
for maintenance,
operation, taxes, insurance and
depreciation; (c) operations to be conducted by a Joint board consisting of
two, one for the city and one for the company, an arbiter to be called in In
case of disagreement.
The plan also provides that the Mayor appoint
an advisory board of seven to
co-operate with the City Council in drafting
the franchise ordinance.
See V. 103. p. 759.
The co. has applied to the
City Councils of Oakland, Berkeley and Alameda for a resettlement of the
various street railway franchises owned in these cities under the terms of
the
above plan.
V. 104. p. 1389.
Committees have been appointed by the
Mayors of Alameda, Berkeley and Oakland to negotiate with the company.
See also V. 107, p. 2009, 2098.
and
Valuation.—After a most exhaustive investigation, the Cal. RR. Comm.
May 24 1915 handed down its decision holding the reproduction cost of
the company's physical property as of June 30 1914 to be as
follows: Op¬
erative property, $20,354,747; non-operative,
on
$6,558,118; total, $26,912,865: adding cash expenditures for capital purposes from June 30
1914 to
Dec. 31 1918, $1,938,285, making the reproduction cost as of Dec.
31 1918
$28,851,150; 1917, $28,374,740.
Compare V. 109, p. 982.
Foreclosure Suits.—Tiae Augio-Ualifornia Trust uo. of San
Fran., as mort¬
brought suit against the United Properties Co., Dennis
Searles and stockholders of the Oakland Rys. for recovery on the
$2,500,000
note issue of the Oakland Rys. (see table below) in order to
protect the
noteholders in the event that the proposed reorganization of the San Fran¬
cisco-Oakland Terminal Rys. is not carried through.
V. 101, p. 615.
The
Trust Co. has also begun legal proceedings to
preserve or enforce the rights
of the holders of the $1,100,000 6% Oakland Terminal Co. notes.
V. 105.
p.
820.
Fare Increase.—In June 1918 was auth. by the Cal.
p.
the
Commission
granted
the
Sec.
&
477, 776, 1367, 1527;
168, 971, 1189.
auth.
to
spend
$1,181,979
for
impts.
Strike.—V.
109, p. 1610.
Reorganization,
&c..
Committee.—This committee represents the in¬
Chairman, John S. Drum; J. F. Carl¬
ton, W. W, Garthwaite, P. E. Bowles, George Tourney, Gavin McNab,
terests of the different bondholders:
George K. Weeks, A. Crawford Greene, George A. Batchelder, Herbert
Fleischhacker and Paul Sinsheimer, Secy.
Depositaries: Mercantile Trust
Co., Savings Union Bank & Trust Co., and the Anglo-California Trust Co.
of San Francisco; Oakland Bank of .Savings, Central Natl. Bank of Oak¬
land and the First Natl. Bank of Oakland, Calif.
V. 109, p. 1180, 1274.
Deposits have been called for.
V. 110, p. 79.
For statement by com¬
mittee see V. 110, p. 1416.
Up to March 1920 about $6,500,000 bonds
had been deposited.
V. 110, p. 1416.
STOCK—
Common
Div. Period.
($100)
-
Class A pref. ($100) 6% cum
Class B pref. ($100)
Q.-M. 21
Date.
San Fran.-Oak.
Oakland
Outstanding.
Maturity.
6 M-N
1916
$130,000
See text
Traction Co.—
Trac
Co
con)
mtge, g, $12,000,000, sink-1
ing fund ($1,000)
c*
General
Interest.
Term. Rys.-
Equip notes ($1,000)
Oakland
Outstanding.
$15,125,000
12,050,000
1,000.000
BONDS—
gen
consolidated
1907
_5gJ-J18_
3,177,000 Jan 18 1935
Union Tr. Co., San Fran., Trustee.
1905
5 g J-J
2.134.000 Jan
2 1933
Oakland Trac Consol, $7,Union Tr. Co.. San Fr., Trustee.
000,000, gold ($1,000)—cj
1st mtge (see text) Oakland] 1902
5 g J-J
1,202,000 July 1 1932
Transit consg,sf($l,000)c*lUnion Trust Co., San Francisco, Trustee.
1st con s f M Oak
Tran,$3,-( 1901
5 g J-J
1,595,000 July 1 1931
000,000 ($1,000),
mtge,
c*\Mercantile
g.
Oak
Lean
s.
Trust Co., San Fran., Trustee.
Co.) 1898
6 g J-J
1,121,000 July 7 1918
f.t not Union Trust Co., San Francisco, Trustee.
c*
Ml
1892
6 g M-S
250,000 Mar. 1 1922
$250,000 ($1,000)
I
23d Ave El Ry 1st mortgage,
gold ($1,000), $250,000...;
1893
6 g M-S15
250.000 Mar. 15
San
&
H
1st
g.
Alameda
Oak
& Pied El
OAKLAND, CAL.
FRANCISCO-OAKLAND TERMINAL RYS.
ORGANIZATION.—Incorp. in California on March 21 1912.
Has
consolidated the following (V. 94, p. 912):
Oakland Traction Co.
i
East Shore & Suburban Ry. Co.
San Fran. Oak. & S. J. Cons. Ry.
|
California Railway.
The San Fran.-Oak. Term. Rys. assumed the total bonded debt of the
merged companies.
The Sacramento Short Line and San Jose Short Line, incorp. Jan. 21 1911
in California in the interest of the San Fran.-Oakland Term. Rys. System,
the former with $10,000,000 stock and the latter with $8,000,000 stock,
have been merged in the San Fran.-Oak. Term. Rys.
Operates the street railway lines of and connects Oakland, Berkley,
Alameda, Richmond, Emeryville, Piedmont, Albany, San Lorenzo, San
Leandro and Hayward.
Also connects Oakland, Berkley, Emeryville,
Piedmont and Albany with San Fran, by electric train and ferry service.
'23
18,000 Jan. 1 1923
first mtge. gold, $350,000.at Wells-Fargo Nev. N. B„ San Fran.
San Fran Oak A San Jose Cons Ry—
Generai
consolidated
mort¬
1908
5 g M-N19 1,587,000 May 19 1938
gage, $7,500,000 ($1,000), Union Trust Co., San Francisco, Trustee.
Interest at office of co.. Oakland, or Wells
gold
c*
Fargo-Nevada Nat. Bank, San Fran.
1903
5 g J-J
3,000.000 Jan 2 1933
San
Fran
O & S J Ry
1st Int. at Wells-Fargo-Nevada Nat. Bank In
San
Francisco
and Nat'l
Pk.
Bank
in
mortgage, $3,000,000 ($1,N. Y.
Union Trust Co., San Francisco,
000), s f. gold.
c*
Ry/ 1893
6 g J-J
Trust86
_
_
1
5 g J-J
1906
1,500,000 Jan 2 1933
Wells-Fargo-Nevada
Nat.
Bank,
San
Francisco, or at company's office.
$1.500,000 g ($1,000) s f.c*
Union Trust Co.. San Francisco, Trustee.
East Shore A Suburban Ry. Co.—
1st mtge $750,000 gold
s ft
1905
5 g J-J
653.000 July 1 1940
($1,000) sub to call llO&int/Int. at Merc. Tr. Co.. San Fran., Trustee.
Notes of Subsidiary Cos.—
Oakl Rys coll tr notes $2,500,1912
6%
2,500,000
See text
000 ($25,000) red at 100 Int. at Anglo-California Tr. Co., San Fran,,
and lnt
Trustee, or National City Bank, N. Y.
Oakland Term coll notes $1,1912
6 F-A
1,100,000
See text
100,000 g ($1,000, $2,000, Int. at Anglo-California Tr. Co., San Fran.
Callable at 101 and Interest.
$5,000 & $10,000) gu v & I.
San Fran O & S J Ry 2d mtge
San Francisco-Oakland
co.
V. 107, p. 907."
Effective Sept. 12 1919 the co. was auth. to raise fares on
the Key Route from 11 to 15 cents for one way fares and the commutation
rate from $3 30 to $4.
V. 109, p. 982.
Int.
at
Terminal Rys.
cured by 32 steel cars costing
SAN
RR. Comm. to in¬
ferry and electric fares by 10%.
V. 106, p. 2758; compare V. 105.
l"1^.
On Aug. 14 1918 was auth. by the Cal. RR. Comm. to increase
local street railway fares from 5 to 6 cents.
In connection with this decision
crease
$1,400,000, gold,
subject to call
2,500,000
T
defaulted, but within six
1st mtge Oakland Transit
1,000,000
Debenture "B" bonds.
was
months' grace allowed, the company completed the
payment in full of all
tbe July 1915 coupons (V. 102, p. 251).
The company has been paying
gage trustee, has
CONN.
THE SHORE LINE ELECTRIC RY. CO.
95
The equip,
notes of 1910 are
se-
$234,000.
They mature $10,000 s.-a. from
Callable at 100 H and int. on 00 days'
May 1 1917 to Nov. 1 1925, incl.
notice.
Oakland Trac. Co.—Of the $12,000,000 bonds of 1907, $6,980,000 are re¬
for prior liens and $1,843,000 are deposited under the Oakland
served
Ry. coll. notes.
A sinking fund began in 1907 which provides for the re¬
tirement of about $7,000,000 bonds by 1932.
Of the $7,000,000 Oakland
Trac. consolidated mortgage, $4,826,000 are reserved to retire prior liens,
$20,000 have been canceled and $20,000 exchanged for Oak Trac. Co. issue.
A sinking fund began in 1906 which provides for the retirement of $6,000,000
bonds by July 1 1928.
See V. 81, p. 668. The auth. amount of 1st consol.
mtge. of 1902 of Oakland Transit Consol. was originally $6,500,000, but
■hareholders voted on June 17 1904 to cancel $1,654,000 previously re¬
served for extensions and improvements.
V. 78. p. 2385.
Of the remain¬
ing bonds auth. $3,495,000 are reserved for prior liens and $149,000 have
been canceled by sink. fd.
A sinking fund for these bonds commenced in
1903 and ranges from $10,000 to $250,000 per year, which provides for the
retirement at maturity of $4,000,000 bonds. Bonds not subject to call, but
be purchased for sinkingf und in open market.
may
See Y. 75, p. 135.
Of
the $3,000,000 first consols. Oakland Transit, $1,400,000 are reserved to
retire underlying liens.
$5,000 have been exchanged for Oak. Transit Cons.
A sinking fund commenced on these bonds in 1912, which provides for the
retirement of $2,000,000 of the bonds on or before maturity.
Both the Oakland San Leandro & Hay. Elec. Ry. and the 23d Ave
Elec.
Ry. mortgages have sinking fund commencing ten years after date and
increasing from 2% yearly (of total bonds outstanding) for the first five
years to 8% for last 5 years.
The bonds are not subj. to call before maturity.
Interest on Oakland Traction Co. and underlying bonds, except where
otherwise indicated, is payable at Wells Fargo Nev. National Bank. San
Francisco, or National Park Bank
San Francisco Oakland A San Jose.Consolidated Ry.—$4,500,000 consol.
retire prior liens and $1,413,000 are de-
mortgage bonds are reserved to
Koeited under the installments totaling $4,345,000. sinking fund on on the
onds began 1915,
Oakland Ry. coll. notes. A A sinking fund these
San Fran. Oakland & San Jose Railway 1st 5s
In 1915
is provided as follows:
1916, $25,000 each year: in 1917 and 1918. $35,000: in 1919 and 1920
$50,000; In 1921 and 1922, $75,000; In 1923. $90,000; In 1924 and 1925
$100,000; in 1926, $115,000; in 1927 and 1928, $12.5.000; in 1929.1930, 1931
and 1932, $150,000.
These bonds cannot be called.
8ee Y. 76. p. 655.
The following amounts are payable annually to a sinking fund on the San
Francisco Oakland & San Jose Railway 2d mtge. bonds:
1915, fi0.000
and
1916, $15,000; 1917, $20,000; 1918. $25,000; 1919, $30,000; 1920, $35,000;
1921, $40,000; 1922. $45,000; 1923 to 1925, inclusive, $50,000; 1926 and
1927, $60,000; 1928 to 1932, inclusive, $75,000.
These bonds are not
subject to call.
East Shore & Sub. mtge. Is a closed mtge.
Sinking fund, IX % yearly on
all bonds outstanding, expected to retire entire issue.
V. 94, p. 123.
$97,000 in sinking fund Mar. 31 1919.
Notes.—The Oakland Rys. and Oakland Terminal coll. notes fell due
June 12 1913 and Aug. 20 1913, respectively.
Interest at rate of 6% per
annum is being paid on the notes.
EARNINGS.—For cal. years 1918 and 1917 and years ending June 30:
Gross
' Net
(after
Other
Interest,
Balance,
Earnings.
Taxes).
Income.
Ac. (net.)
Surplus.
198
Year
$804,386
$5,100,030
1918
1917
1916-17
$78,539
ROAD.—Operates 262.87 miles (all tracks) of electric railways.
Has 429
cars, 1 combination car, 3 electric locomotives, 14 freight cars, 70
service cars, 5 wrecking cars, 1 pile driver and 5 ferryboats.
In 1915 made
a new contract for power with Consolidated Electric Co.
(successor to the
United Lt. & Pow. Co.) under more favorable terms.
pass,
OFFICERS.—Pres., C. O. G. Miller; V.-P., W. R. Alberger: Sec. &
Treas., F. W. Frost; Aud., B. W. Fernald.—V. 108, p. 581, 880, 1061,
1276, 2242; Y. 109, p. 982, 1180, 1274, 1610, 1892; V. 110, p. 79, 1416.
SAN
19
FRANCISCO-SACRAMENTO
RAILROAD CO.—
ORGANIZATION.—Incorp. in Cal. late in 1919
Oakland Antioch & Eastern
RR.
.sold at foreclosure
as
on
successor
to the
Jan. 28 1920 as
plan of reorganization outlined in the "Electric Railway' Supplement
of Nov. 15 1919, in which issue the history of the predecessor co. will also
be found.
For changes in reorganization plan see V. 110, p. 78.
Controls
through stock ownership Oakland & Antioch Ry. (34.12 miles between the
points named) and San Ramon Valley RR. (11.7 miles between Saranap
and Diablo, Contra Costa County.
Has a traffic agreement with the
Atchison Topeka & Santa Fe Ry. under which the latter reaches Sacra¬
mento and points beyond.
Franchises.—Practically the entire mileage of the road is located on private
right of way.
We understand that where franchises are required, they con¬
per
tain
no
burdensome restrictions, and extend from 1946 to 1964, the shortest,
covering only about 5 miles, expiring in 1941.
Capitalization
Completion
upon
of
OFFICERS.—Pres.,
Reorganization.
STOCK AND BONDS.—
Date.
Interest.
Outstanding.
Maturity.
Common $6,550,000 ($100)
$6,550,000
Pref $1,500,000 cum. ($100)-6%
1,500,000
1st
mtge
serial $3,000,0001 1920
6 g J-J 1
840,000 See text
($1,000)
gold
-_c*tf/Union Trust Co., San Francisco, Trustee.
Stock.—Pref. stock is callable any time at 110.
Bonds.—Are secured by a 1st mtge. on the entire property.
Escrow bonds
($2,160,000) can only be issued for 75% of the actual and reasonable cash exenditures for permanent exts. and add'ns to the property, under certain
onditions. If any of the escrow bonds are issued, the bonds so issued shall
mature not later than Jan. 1 1940, and not earlier than the last maturity
I
—
f the
present issue outstanding.
The $840,000 now outstanding mature
42,000 annually from Jan. 1 1921 to Jan. 1 1940, both inclusive.
Call,
or in part by lot (last maturities first) at 102 and int. on any int. date.
Int. payable in Chicago or San Francisco..
Tax exempt in California.
V. 110, p. 466.
/
Inc., Philadelphia, Pa.—V. 101. p. 1806;
1
EARNINGS.—Of predecessor company for years ending Dec. 31:
Year—
Gross
Net (after
Other
Taxes). Income.
$251,618
$2,030
Earnings.
$879,766
Lease
Interest &
Rentals.
Miscel.
$106,323
$181,486
Balance,
Deficit.
$34,161
206,757
1917------- 745,835
620,274
152,655
822
106,621
257,087
210,231
ROAD, &c.—Total, 105.55 miles in operation.
The Sacramento Valley
Elect. Ry. (11.& miles operated.as a branch line from Jan. 1 1915) was
abandoned Aug. 1 1917.
Owns 6 substations, warehouses, shops, store¬
houses, office buildings, freight stations, ticket stations, &c.
Equipment
consists of 34 passenger coaches, of which 18 are motor equipped ,6 steel
locomotives, 74 freight cars, 3 cabooses, and 14 construction and work cars.
Power is furnished by the Great Western Power Co. under contract.
OFFICERS.—Pres., Walter Arnstein.—V. 109, p. 2172, 2263; V. 110,
p. 79, 262, 466.
1916
OIL
CITY, PA.
CITIZENS' TRACTION CO.—A trolley road.
Mar. 1917 control was purchased by the Municipal
In
Service Co.,
corporation, which see under Philadelphia, Pa.
ORGANIZATION.—Incorporated in Pennsylvania May 23 1902. Owns
and operates the Clttzens' Light <fc Power Co., the Monarch Park Hotel Co.
(an amusement park with 60 acres of ground), the Big Rock Bridge Co.
and the Reno Bridge Co.
In Nov. 1918 an increase in fare from 6 to 7 cents with special workingmen's tickets in books of 15 for $1 became effective.
Maine holding
Date.
STOCK AND BONDS—
Common
$1,000,000
Interest.
Outstanding.
$1,000,000
($50)
Maturity.
See text
Q-J
*1,000,000
See text
1912
5 A-0
1,364,000 Apr 1 1942
($1,000) sinking fund_c*tf [Pa. Co. for Ins. on L. & G. A., Phila., Tru«.
Refunding mortgage $2,500.-1 1917
6 M-N
332,000 May 1 1942
000
r.tf/Pa. Co. for Ins. on L. & G. A., Phila., Trus.
*
Of the $1,000,000 outstanding $400,000 are in the treasury.
Bonds.—1st M. closed with $1,364,000 outstanding.
Red. at 105 and int..
In whole on or after Apr. 1 1917, or in part for sk. fd. on or after July 1 1918.
Sinking fd. of 1% per ann. became operative July 1 1918.
An improve¬
ment fund of X of 1% per ann. operative on Jan. 1
1923.
See V. 94.
p. 1118, 697.
Int. at office of trustee.
$1,364,000 Ref. M. bonds reserved
to retire 1st M.
Remaining bonds to be Issued for addltioas and extensions
Preferred $1,000,000 ($50)
First
mtge $2,500,000
gold!
under
guarded
restrictions.
Dividends.—First div.
on
pref.—2X%—was paid Jan. 2 1913; July 1913,
2%. In 1914, Jan., 2%; July, 2X%. In 1915, Jan., 3%; in April paid a
quar. div. of 1X % and same rate quar. to and inch Oct. 1918. In Apr. 1919,
3%; July, IX%\ Oct., 1X%.
Initial div. on com., 1%, paid Nov. 1915.
In 1916, 1X%; in 1917, iy2%\ in 1918. April, 1%; July, X%; in 1919,
July, X%; Oct., X%.
EARNINGS.—For
12 Months—
1918
12
mos.
Gross.
$772,336
640,802
ending Dec. 31 (incl. subsidiaries):
Net, aft. Tax. Fixed Chgs.,&c.
Balance.
$205,399
$92,890
$112,509
155,923
90,015
65,908
ROAD.—Operates 35.11 miles of track in Oil City, Franklin, Rouseville,
Siverly and Reno, and connecting route® on both sides of the Allegheny
66-lb. and 70-lb. T rail and 85-lb. girder rail.
Has 54 passenger
cars, 3 work cars, 1 snow-plow and 2 snow sweepers.
The controlled
Citizens' Light & Power Co. furnishes electric light and power for Oil City,
Franklin and vicinity.
River.
V.-P.l,
Day;
Chas.
OKLAHOMA
V. 104, p. 1387.
CITY,
OKLA.
OKLAHOMA RAILWAY CO-
ORGANIZATION.—Incorporated in Oklahoma on June 15 1904 under
name of Oklahoma City Ky. Co.
On Sept. 21 1907 name changed to
Ry. Co.. increasing charter powers so as to constitute both an
urban and interurban road with all the powers of a steam railroad corpora¬
tion and of a lighting and power co., and increased stock from $1,000,000 to
$3,000,000.
On Apr. 1 1911 purchased Oklahoma City & Suburban Ry.
and on Aug. 1 1911 purchased the El Reno Interurban Ry. and the city lines
and franchises in El Reno. ^The Oklahoma Ry. also owns the Guthrie City
the
Oklahoma
Ry. and the No. Canadian
In 1911 increased stock from $2,000,-
Valley Ry.
000 com. and $1,000,000 pref. to $10,000,000 com. and $5.000,000jfpref.
About two-thirds of road on private right-of-way (Incl. 28 miles of track
within
subject to right of city
city); Oklahoma City franchise perpetual,
to purchase property on Jan, 31
1932 or at end of any 15-year period
thereafter.
El Reno franchise expires 1933; other franchises perpetual.
The Guthrie-Edmond Electric Ry. was incorp. in Dec. 1915 with $500,000
capital to build the extension from Edmond to Guthrie, 15 miles, placed in
operation July 20 1916.
Fares.—On Nov. 1 1918 was authorized to increase passenger fares on
the interurban lines.
of $450,000 bonds secured 7% notes
Feb. 1919 brought out an issue
In
V
108. p. 683
8TOCK AND BONDS—
Interest.
Date.
Common $10,000,000 ($100)
Pref
-
$5,000,000($100)5% cum
Outstanding.
Maturity.
$3,800,000
1.795.900 Jan'12,1 X%
347,000 Jan
1 1938
and
refunding
mtge\ 1908
5 g_J-J
$3,000,000 ($1,000) gotd c*/Int. at Safe Dep. & Tr. Co., Pittsb., Trustee.
$12.000.000( 1911
5 g J-J
3.653,000 Jan 1 1941
gold ($1,000)
c*(Int. at Mississippi Valley Tr. Co., St. Louis.
t
Trustee, or Harris Tr. & Sav. Bk.. Obic.
First
First & ref mtge
(II,000)-cf 1916
6 J-J
425,000
See text
and interest) Int. at Miss. Vail. Tr. Co. St. Louis., Tr.
1918
8 g M-S
375.000 Mar 1 1921
Junior M g bonds
Red
at
101)4
Secured notes ser "F" $375,-1
000 ($1,000) gold
(Tnt. at
8ecured notes ser "G" $450,-1
1919
000 ($500 & $1,000)
Miss. Vail. Tr. Co., St. Louis, Trus.
7 g J-J
450,000 Jan 1 1921
g-c.tf/lnt. at Miss. Vail. Tr. Co., St. Louis. Trus.
Bonds.—Of the 1st & ref. bonds of 1911, $347,000 are reserved to
retire
underlying bonds; remaining bonds can be issued at not exceeding 80% of
or extensions, enlargements and additiona under certain restrictions.
8ubj. to call at 105 and Int. on Jan. 1 1921 or any int. date thereafter.
V. 92, p. 1110.
$525,000 are held in treasury, of which $500,000 are
pledged as security for the 8% notes due Mar. 1 1921.
No sinking
fund, but bonds have a renewal fund of 2% per annum of bonds out.
The first and refunding mortgage of 1908 is limited under the terms of the
let & ref. mtge. of 1911 to $2,500,000, d which $2,153,000 are deposited aa
additional aecurity for 1st 9c ref 5s of 1911 and $347,000 are out.
Mtge.
bonds of 1908 can be called on 90 days' notice at 110 and interest.
No
sinking fund.
The junior mtge. bonds mature $15,000 s.-a. from Jan. 1
1918 to July 1 1925 and $260,000 on Jan. 1 1926.
They are secured by a
lien on the entire property subject to $4,000,000 underlying bonda. and also
cover the extension from Edmond to Guthrie, subject to a construction
lien of $450,000.
Exempt from all general taxes in Okl.
V. 102, p. 1987.
Notes.—The 3-year 8% notes are secured by a deposit of $500,000 1st &
Ref. M. 5% bonds due Jan. 1 1941 (ratio of 133%).
Red. all or in part at
101 and int. on any int. date.
Tax-free to holders in Missouri.
The
cost
7% 2-year notes are a direct obligation of the co. and in addition
secured by $120,000 1st M. 5s of the Guthrie Ry. Co. and $500,000
series "G"
are
Electric Ry. Co.
Red. all or in part at
101 and int. on any int. date.
V. 108, p. 683.
Dividends.—On pref.. 1st div.—5%—paid Jan.
1909 and IX% quar.
1st M. 5s of the Guthrie-Edmond
to and Incl. Jan, 1912.
None since.
EARNINGS.—For cal. year 1918 and year ending June 30:
Gross
Net (after
Other
Interest.
Balance,
Year—
Earnings
Taxes).
Income. Disc't.&c.
Surv.
ROAD. &c.—Operates about
Passengers
Carried.
$6,143 $327,343 $125,419 19,554,434
7,949
328,810
178,215 21,623,535
$1,294,326 $446,618
1918-19—— 1,481,693
499,076
1918
138 miles of track comprising the street
railway systems In Guthrie (6.7 m.) and Oklahoma City
interurban lines to El Reno (placed in operation Dec. 3
(60 ra.) and the
1911), Norman
(placed In operation Nov. 15 1913) and Edmond (placed In operation May
28 1911).
The extension to Guthrie was placed in operation July 20 1916.
Standard gauge, 65, 70 and 100-lb. rails.
110 pass, and 32 freight and other
cars; 2 electric and 1 steam locomotive.
Power plant has 12,100 k. w.
capacity.
Also owns valuable terminal station in Oklahoma City.
all
Calendar
Titusville;
Seep,
Joseph
Sec., John E. Zimmermann; Treas., J. W. Swain Jr.; Asst. Sec., C. A.
McClure; Asst. Treas., C. R. Bitting. Oper.Mgrs., Day & Zimmermann.
$1,102,626 def.$21 9,701
1,001,380
44,355
1.107,631
def.61,896
4,578,620
1,146,445
1,091,125
55,319
a4,472,176
*1,089,771
60,413
1,019,461
130.723
1915-16
*4.417,848
1,169.357
62,665 '
1,025,583
206,439
4,353,891
1914-15
*
Including in 1915-16 direct exposition ferry earnings, gross, $114,553
net, $49,161.
Loss due to jitney competition in 1915-16 estimated at
$320,000, with no corresponding decrease in operating expenses,
a Including "other income" in 1916-17.
[Vol. 110.
RAILWAYS
ELECTRIC
96
W. SharHoopes; Treas., E. J. Richart; Aud., W.
106,
OFFICERS.—Pres., Anton H. Classen; V.-P. & Gen. Mgr., J.
tel; Sec. & Asst. Oper. Mgr., Chas.
C.
p.
General offices. Oklahoma City.—V. 102. p. 1987: V.
2229; V. 107, p. 1670, 1837, 1920; V. 108, p. 379, 683; V. 110, p.
Jones.
OLE AN,
WESTERN
NEW
YORK
&
N.
78.
Y.
PENNSYLVANIA TRACTION CO.
ORGANIZATION.—Incorporated
in
New York and Pennsylvania on
Olean Street Ry. and the Rock
Nov. 17 1906 aud is a consolidation of the
City & Brad¬
Owns entire
right-of-way.
practically perpetual, except in City of Bradford, where rights
City RR.; the latter being a reorganiza tion of the Olean Rock
ford Iiy.; Bradford St. RR. Co. has also been consolidated.
stock of Shlnglehouse St. Ry.
Operates mostly on private
Franchises
expire In 1944.
On April 15 1910 up-State Public Serv. Comm. authorized company to
to $2,600,000 and classify shares as below.
See V. 90, p. 1103.
$500,000 ref. bonds were exchanged for $500,000 new
first preferred stock.
Rates.—In July 1918 applied to the I.-S. C. Comm. for auth. to increase
passenger and freight rates to conform with steam railroad rates.
V. 107,
p. 83.
Strike.—V. 109, p. 1610.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity
Common $1,000,000 ($100).
$1,000,000
First pref (6% cum) $600,0001
($100).
f
J-J
600,000 July'17,3%
2d pref (5% non-cum) $1,000-1
000 ($100)
_/
1,000.000 Nodiv'd yet
First and ref mtge $5,000,000\
1906
5 g J-J
2,240,000 Jan. 1 19(57
gold ($1,000)
_.c*.tf/Int. a Equitable Trust Co., N. Y., Trustee,
Olean Street Ry first mtge\ 1899
5 g M-N
144.000 Nov 1 1929
$225,000 ($1,000) g.„c*.tf/Int. at Fidelity Trust Co., Buffalo, Trustee.
Olean St Ry 1st exten mtcef 1901
5 g F-A
98,000 Aug 1 1931
$130,000
($1,000)
goid-( Int. at Fidelity Trust Co., Buffalo. Trustee.
(cannot be called)
c*.tf (Sinking fund of $2,000 commenced in 1]903
increase stock from $2,000,000
Bonds.—Of the $5,000,000
1st & ref. bonds, $252,000 are reserved for
Additional bonds for extensions and additions at 85% of cost.
call at 110 and Interest.
See V. 91, p. 1162.
Sinking fund on Olean Street Ry. 1st mtge. of 1899 became operative in
prior liens.
Are subject to
had been paid to Sept, 1
Bonds cannot be called.
A sinking fund on the 1st mtge. extension
operative Aug. 1 1903; $34,000 had been paid into the fund
1901. $4,000 being paid annually, $81,000
Nov.
1919.
bonds became
Sept. 11918.
In addition, the Shlnglehouse RR., whose stock is owned, has
$49,000 5% bonds due in 1933, which have a sinking fund of $1,000 yearly.
Dividends.—On 1st pref. 3% semi-ann. from Jan. 1911 to July 1917. Incl
Gross
Earns.
1917—$482,601
31 1916— 468,326
EARNINGS.
Year ending—
Dec. 31
Dec.
Net (after
Taxes).
$156,985
186,744
Other
Income.
$5,641
5,404
Interest,
Rents, Ac.
$133,712
133,802
Batancs
for Divs.
$28,914
58,346
ROAD.—Operates In Olean and Bradford, and between those pointa;
Bradford to Lewis Run from Olean easterly through Ceres,
a connection is made (with the Shlnglehouse RR.) to Bolivar;
from
Olean westerly to Salamanca and thence to Little Valley;
from Seneca
Junction, N. Y., to Clarkdale, Pa.
Total about 98 miles of road.
70-lb.
rails.
58 passenger cars. 30 freight cars. 5 snow plows.
and lines from
where
OFFICERS.—Pres., Gordon Campbell; V.-P. & Treas., Jos. B. Mayer,
James P. Quigley, Salamanca; Gen. Mgr., I. "W. Miller.—
New Y*)rk; Sec.,
V. 91, p. 1712;
V. 92, p. 732; V. 107. p. 83; V. 109. p. 1610; V. 110, p. 1527.
ELECTRIC
APR., 1920. J
RAILWAYS
97
OMAHA, NEB.
OMAHA
&
OTTUMWA, IOWA.
BLUFFS STREET RY.—A trolley road.
COUNCIL
ORGANIZATION.—Incorporated In Nebraska.
Owns lines formerly op¬
erated by Omaha St.Ry.Co.; leases the Omaha 8c Council Bluffs Ry.& Bridge
Co. in Council Bluffs, la., until 1947. together with its bridge over Missouri
River, rental being $00,000 per annum, in addition to all fixed charges.
Litigation.—An amended petition seeking a court decree ordering the
company to turn over to the city its entire street railway property In
Omaha was filed In Jan. 1918 by Corporation Counsel Lambert.
A judg¬
ment for the company's earnings since Jan. 1917 was also asked.
The
action was based on the provision of the franchise granted the Omaha
Horse Car Co. (this company's predecessor), by which its property was to
revert to the city on Jan. 1 1917.
V. 106, p. 86.
A ruling has been
handed down by the court which holds that the right of reversion does not
extend to any part of.the present property of the Omaha & Coun. Bluffs Ry.
Fare Decision.—District Judge Sears on May 12 1914 granted a temporary
injunction restraining the enforcement of the city ordinance providing for
7 fares for 25c.. pending the trial of the suit, on the ground that the rate
would be confiscatory. V. 98. p. 1538.
Municipal Ownership.—In Jan. 1919 the Omaha City Council appointed
a committe to confer with the representatives of the company on the sub¬
ject of municipal ownership for the company's properties.
V. 108, p. 79.
Fares.—In Sept. 1918 applied for auth. to increase fares from 5 to 7
cents on account of increased wages, &c.
In connection with this applica¬
tion an engineer appointed to make a valuation of the co's property placed
the total value as of July 1 1918 at 819,755,400.
V. 107, p. 1193.
In
Dec. 1918 tbe<Nebraska Ry. Comm. denied the above application for in¬
creased fares.
V. 107, p. 2376.
The co. appealed from this decision to the
State Supreme Court, which on July 16, 1919 ordered the Neb. Ry. Comm.
to grant the co. increased rates.
The Court recommended a 6-cent fare
pending further investigation of the co.'s books to determine the present
earning capacity and permanent ratd.
V. 109, p. 371. The Comm.. how¬
ever, on Aug. 6 1919 granted the co. a temporary increase of 2 cents, bring¬
ing the fare up to 7 cents. According to the Comm.'s order all revenue over
the average of 1914 to 1918 must be held in a reserve fund pending final
settlement.
V. 109, p. 677.
Date.
STOCK AND BONDS—
($100)
Jan 1 1904\
$5,000,000 {$100)—
-/
Outstanding.
Maturity
$5,000,000 Apr '18.1 %
Interest.
Common $10,000,000
Pref 5% cum from
5 Q-J
—„
*4,000.000
Dec '19,2)4
1902
5 g J-J
9,019,000 Jan 1 1928
($1,000) no sink fund.c*.tffInterest at Guaranty Trust Co.. New York.
Stock and Bonas.—$5,000,000 com. and $1,000,000 pref. stock are set
First
$10,000,000
M
cons
aside for add'ns 3c
g\
Of the first consols, $381,000 owned and in treas.
imp'ts.
Diridends.—First dividend
and
same
amount quar.
on pref. stock. 1 H%- was paid April 1
1904.
to and incl. July 1918.
None to Oct. 1919 when
234% was paid.
In Dec., 1919, 234 %•
On common, first div., 2%, paid
July 1907.
In 1908 to 1911, 4% per annum.
In 1912, 1913 and 1914, 5% ■
In 1915, 4)4%.
In 1916 and 1917, 4%.
In 1918, Jan.. 1%; April, 1%.
None since.
Year.
Earnings.
Taxes).
$
Rentals,
Int.,Ac.
Inc.
$
$
1919.-4,156,175
1918.-3,344,053
a 5%.
5 2 34 %
in
>
.
REPORT.—For calendar years:
Cat.
Gross
Net (after
Other
Pf.
Div.
Common
Dividends.
$
$
Bah.
Surp,
$
$
835,949 20,748 639,868 a200,000
16,830
694,416 15,063 639,683 5100,000 (1%)49,900d.80,103
—
•
ROAD.—Operates 162.53 miles of track, embracing all the street railways
Omaha. Neb., and in Council Bluffs, la., including the Omaha and
Council
Bluffs bridge.
of the Board, G. W: Wattles; Pres., W.
Smith; V.-P.
J. A. Monroe; V.-P. & Gen. Mgr., R. A. Laussher; Sec.
Aud., W. G. Nicholson; Treas., A. S. Widener; Asst. Gen. Mgr., F.
Welty.—V. 107, p. 2376, 2477; V. 108, p. 79, 172, 1061, 2122; V. 109.
371, 677, 1987; V. 110, p. 360, 1643.
OFFICERS.—Chairman
(1)
A*
&
S.
p.
In
Iowa
in
STOCK AND BONDS—
Interest.
Date.
$1,500,000 ($100)
from Feb 1 19071
$1,500,000 ($100)
f
Pref 4% cum
Outstanding.
Maturity.
$1,500,000
1.500,000 In 1919,4%
mtge
gold
$2,000.000(
F-A
1,902.000 Jan.
5 J-J
1902
1 1928
c*tf j Interest at Central Trust Co.. N. Y., Trustee
Bonds.—Of the new 1st consolidated mtge. for $2,000,000, $108,000 are
reserved for Improvements. V. 89. p. 1234, 1281; V. 94, p. 1119.
$600,000
bonds of the Omaha Council Bluffs & Suburban Ry. are deposited as secur¬
ity for the O. & O. B. Ry. & Bridge consol. 5s.
Dividends.—Dividends have been regularly paid on pref. stock since 1902.
ROAD.—Comprises
miles of track, including the
33.69
trackage of the
Omaha Council Bluffis & Suburban Ry. and the Lake Manawa 8c Manhattan
Beach Ry.. embracing the entire street railways of Council Bluffs,
Also
owns
bridge between Omaha and Council Bluffs
OFFICERS.—Pres.,
&
LINCOLN
over
the Missouri River.
W.
Wattles; Sec.
Greenshi^lds.—V. 96, p. 1702; V. 102, p. 1060.
S.
Geo.
O. T. Stewart; Treas., J. P.
OMAHA
STOCK AND BONDS—
Wright;
V.-P.,
G.
Se LIGHT CO.
Traction Co. (see under Champaign, 111.).
RAILWAY
Controlled by the Illinois
ORGANIZATION.—Incorporated in Nebraska in July 1913 as succes"
to the Nebraska Traction & Power Co.
Stock outstanding, com..
sor
$48,800: pref.. $57,500.
Date.
BONDS—
Interest.
Interest.
Date.
Outstanding.
Maturity.
$650,000
See text.
504,800
Apr'20, 1%
1906
1.107,000
Jan 1 1924
gold ($1.000)
_c*\Int. at Central Trust Co., Chicago, Trustee.
Ottum Tr & Lt 1st M (closed) J 1901
5 g A-0
254,000 Oct
11921
($1,000) gold sk fd._
-c*\Int. at U.S. Mtg. &Tr. Co., N.Y.. Trustee.
Secured notes $350,000 ($100, \ 1918
7 g J-D
111.900 Dec 1 1920
$500 and $1,000) g--_c*.tf/Illinois Trust & Sav. Bk., Chic., 111., trustee
Common $650,000 ($100)
Pref $1,250,000 ($100) 7% cu
1st and ref mtg $1,500,000?
Q-J 15
5 g J-J
—
General
6%
1918
mortgage
See text
Outstanding.
Maturity.
Dec
1
1920
Stock.—Pre?, is cumulative from and after July 1 1909; redeem, at 110
on 60 days' notice.
$345,200 pref. stock held in treasury.
Bonds.—Of the 1st & ref. M. for $1,500,000, $254,000 are reserved to
retire prior liens, $15,000 areIn treasury and $124,000 have been redeemed.
The new bonds are subject to call at 103 and int.
A sinking fund of 1 % per
ann. on bonds out commenced July 1 1909.
Of the $400,000 gen. mtge. 6s
outstanding, $300,000 are pledged as security for the 2-yr. 7% notes and
the remaining $100,000 are owned by the Standard Gas & Elec. Co.
The
Ottumwa Trac. & Light Co. bonds can be called since Oct. 1 1911 at 105
and int. and each year thereafter at 34 % less until par is reached.
V. 74,
p. 95.
Sinking fund on these bonds of $5,000 annually is operative from
1907 to 1910 and $8,000 annually from 1911 to 1921.
Notes.—Secured by deposit of $300,000 gen. mtge. 6% bonds.
Addi¬
tional notes may be issued, under certain restrictions, upon pledge of
additional gen. mtge. bonds in.like ratio.
Redeem., all or in part, on 30
days' notice at 100)4 and int. on or before Dec. 1 1919, and at 100 and int.
thereafter.
Pennsylvania 4-mills tax refunded.
Interest payable in Chi¬
cago and New York.
V. 106, p. 2451.
Dividends.—Initial div. on pref.—\%%—paid
Oct. 1909 and same
amount quarterly since to and including Apr. 1920.
In 1916 paid 7% on
common stock.
In 1917. 5%.
None since.
EARNINGS.—For years ending Dec. 31:
Calendar
Net after Int. ChargesMiscelDiviBalance.
Year—
Gross.
Taxes.
(Net),
laneous.
dends.
Surplus.
1918
$402,162
$135,255
$81,300
$500
$35,455
$18,000
1917...—— 365,407
142,989
67,982
250
56.757
18.000
ROAD.—Operates 13 miles of trolley road In city of Ottumwa, Iowa.
Weight of rails, 60-lb. T.
Standard gauge.
48 cars.
Also does municipal
commercial and residence electric-lighting (including 77.6 miles of pole line
carrying 290.4 miles of wire): supplies electric power for stationary motors,
Ac., and operates a system of steam heating, with 3 miles of mains.
Present
generating capacity, 3,050 k. w.
A 66,000-volt transmission line from
Ottumwa to Batavia, 14 miles, was completed early in 1918.
Further ex¬
tension of 534 miles of transmission line connecting the city of Eldon with
the Ottumwa-Batavia line is contemplated.
OFFICERS.—Pres.. Arthur S. Huey: Sec., R. J. Graf; Treas.. J. J.
O'Brien; Mgr., C. E. Fahrney; Aud., J. F. Canfield; Gen. Mgrs.. H. M.
Byllesby & Co.. Chicago, 111.—V. 108. p. 1611, 2434; V. 109, p. 578.
and div.
1902.
Common
consol
street
PADUCAH,
An electric road.
Is
For terms of lease, see
statement of the latter above.
Owns entire capital stock of the Omaha
Council Bluffs 8c Suburban Ry. and the Lake Manawa & Manhattan Beach
Ry.
The $600,000 mortgage of the former company, made to the Royal
Trust Co. of Chicago and Albert E. Johnson, as trustees, is all held by the
Ry. & Bridge Co.
Lake Manawa 8c Manhattan Beach has no funded debt
Franchises run until 1946.
On Nov. 6 1911 U. S. Supreme Court suspended,
pending appeal, the order of the Inter-State Commerce Comm. (V. 89, p
1597), reducing the fare from Council Bluffs to Omaha from 15 to 10 cents.
V. 93, p. 1387, 940.
On June 9 1913 the U. S. Supreme Court held that
the Commission had no authority to make the reduction.—V. 96, p
1702.
ORGANIZATION.—Incorp.
($1,000)
ORGANIZATION.—Incorporated in Delaware on Dec. 11 1905 as suc¬
to the Ottumwa Traction & Light Co.
The latter's franchises foi
railway, electric lighting and steam-heating plants were extended
by municipal election on July 8 1901 for 25 years.
In 1917 secured a
10-year contract for the supply of wholesale electric power and light to
Batavia for distribution in various surrounding communities.
Fare Increase.—On Dec. 23 1918 the City Council of Ottumwa granted
the company authority to increase fares to 6 cents.
V. 108, p. 79. In April
1919 the City Council passed an ordinance recommending the return to a
5-cent fare.
V. 108, p. 1611.
On July 10, 1919 the Dist. Court of Iowa
affirmed the opinion«of the Iowa Supreme Court compelling the co. to return
to a 5-cent fare.
See also V. 109, p. 578.
In June 1918 issued $200,000 secured notes to reimburse the company
for expenditures for additions and improvements.
V. 106, p. 2451.
cessor
St Council Bluffs Railway & Bridge.
Omaha
leased to the Omaha & Council Bluffs Street Ry.
1st
(THE) OTTUMWA RAILWAY & LIGHT CO.
$647,000 com. and $244,200 pref. are owned by Standard Gas & El. Co.
KY.
PADUCAH ELECTRIC CO.—Incorp. in Kentucky on Sept. 23 1919 as
by reorganization (see plan in V. 108, p. 1165, 1275) to the
Paducah Traction & Light Co. (for history see "Electric Railway" Supple¬
ment of Nov. 15 1919).
Owns and operates the electric light, power, gas
and steam heating systems in Paducah, fCy., and through ownership of all
the stock (except directors' shares), of Paducah Railway Co., controls and
also operates the street railway system, serving a population conservatively
estimated at 35,000.
Also owns all (except directors' shares) the stock of
the Paducah Realty Co.
Principal franchises art free from burdensome
restrictions and in the opinion of counsel, extend well beyond the maturity
of the first mortgage bonds.
Fares.—Effective Oct. 1 1919, fares in Paducah were reduced from 7 cents
successor
to 6
V.
cents.
109, p. 1367.
BONDS—;
Interest.
Outstanding.
Maturity.
$605,000
7%
None
1st M $1,000,000 ($100, $500/ 1919
6 g J-J 1
604,500 July I 1924
and $I,000)---_-C*&r*-tf- (Int. at State Street Trust Co., Boston, trus.
Conv debentures $576,000--rl
1919
6%
576,000 May 1 1939
/Int. at State Street Trust Co. , Boston, trus.
Slock.—The 7% pref. stock is reserved for the conversion of the 6%
Date.
STOCK AND
Common $605,000 ($25)--Preferred $595,000 cum
debentures after Jan.
1
_____
1924.
the company's physical, &c.,
Bonds.—In addition to being a first lien on
property, the 1st mtge. bonds are
secured by all (except directors' shares)
Realty Co.
The
only be issued under certain restrictions of the
Red. at 100 and int. at any time
on 30 days' notice.
The 6 % debentures are convertible at option of holders
into 7% cum. pref. stock after Jan. 1 1924.
Latest Earnings.—For 3 mos. ending Dec. 31
1919, gross, $116,159;
net, after taxes, $39,409; int., &c., $17,130; bal., surp., $22,279.
ROAD, &C.—Owns and controls 18.3 miles street railway track; standard
gauge; 30 passenger and 2 other cars.
Power station capacity 1,830 k. w.
Gas plant has a daily generating capacity of 490,000 cu. ft.
OFFICERS.—Pres., Harry T. Edgar; Sec., Edward T. Clark; Treas.,
Henry B. Sawyer.
Gen. Mgrs., Stone & Webster Mgt. Assn., Boston,
Mass.—V. 109, p.'1367, 1987.
^
the
stock
$395)000
of
escrow
trust deed.
$2,250,000 ($1,000) f 1913
5 g A-0
$250,000 Oct
11938
sinking fund...
c*Unt. at Central Tr. Co. of HI.,Chic.,Trustee.
Bonds.—Subject to call on any Interest date at 105 and interest.
the
Paducah
bonds
$100
are
Railway
Co.
and Paducah
may
held in treasury.
1st mtge
EARNINGS.—For
$40,695.
In
1918,
cal.
gross,
year
1919, gross, $152,959; net, after taxes,
$115,785; net, after taxes, $31,312.
ROAD.—Operates from South Omaha to Papillon. 11.5 miles.
OFFICERS.—Pres.. W. B. McKinley; V.-P., Chas. Zilly; Sec.,
E.
A.
Macnutt; Treas., Geo. M. Mattis.—V. 98, p. 913.
W. VA.
PARKERSBURG,
no
KANAWHA
TRACTION
&
ELECTRIC
CO.
July 1 1917 control was acquired by the Monongahela
Valley Traction Co. (see under "Fairmont. W. Va.").
Under an operating
agreement effective July 1 1917 for 5 years or until terminated by either
party on 6 months' notice, the Monongahela Valley Traction Co. manages
all this co.'8 properties, takes all revenues, guarantees debts and renders
an aceount at the close of each year end. June 30.
ORGANIZATION.—Incorp. In April 1915 and on June 7 1915 absorbed
Control.—On
_
_
,
Marietta & Interurban Ry., which was
incorp. in 1902 in W. Va., and purchased the properties of the Parkersburg
Gas. Electric Light & Street Ry., Parkersburg Interurban Ry. and Marietta
Electric Co., and on July 1 1911 the properties of the Muskingum Traction
Co.
Franchises perpetual or for long periods.
The co. guarantees the
mortgage bonds of the Parkersburg & South Side Bridge Co.
by consolidation the Parkersburg
OSSINING, N.
HUDSON
RIVER
&
EASTERN
Y.
TRACTION
CO.
ORGANIZATION.—Incorporated In New York on Feb. 15 1906.
On
May 23 1911 Pub. Serv. Comm. granted permission to build an extension
from Ossining through Briarcliff Manor, Pleasantvllle and Sherman Park
to White Plains, 17 miles.
3 miles In Ossining are in operation.
On Dec.
27 1911 Pub. Serv. Comm. auth. $806,000 additional bonds to complete
extension to White Plains (V. 94, p. 68), of which $55,000 have been Issued.
Fares.—On Dec. 12 1917 the P. S. Comm. auth.
an
increase in fares from
5 to 7 cents, or 4 tickets for 25c.
This decision was canceled by the Court
of Appeals in April 1918.
The village of Ossining has amended the village
franchise, granting the company a 6-cent fare.
On Dec. 17 1918 the fran¬
chise was again amended so as to provide for the 7-cent rate auth. by the
N. Y. P. S. Comm.
In Feb. 1920 the N. Y. P. S. Comm. auth. the co.
to
charge 8 cents on its main line in Ossining.
STOCK AND
8tock
BONDS—
$400,000
1st mortgage
Date.
Interest.
-
V. 110,
p.
561,
Outstanding.
$84,000
Maturity.
-
$1,000,000 gold/
($1.000)
1907
5 g F-A
130.000 Feb 11957
..c&rtf\Int. at Equitable Trust Co., N. Y., Trustee.
Bonds.—Are subject to call on any int. day at 105 and int.
EARNINGS.—For year ending Dec. 31 1919, gross, $21,251; net, after
taxes, $3,042.
In 1918. gross, $22,598; net, after taxes, $1,362.
OFFICERS.—Pres., O. G. Bennett, Ossining; V.-P., Winfiled Post,
Sec., Henry D. Swain, Ossining; Treas. & Gen. Mgr., W. L.
C. E. Hallet.—V. 108, p. 268; V. 110, p. 561.
Ossining;
Stratton; Asst. Treas.,
1920 the Supreme Court of Appeals upheld the right
of Parkersburg to collect a certain percentage of the co.'s gross
Decision.—In Feb.
of the city
revenues
under the franchise
agreement.—V. 110, p. 561.
uate.
Interest.
Outstanding.
Maturity.
$1.500,000
$1,100,000 ---------Pref stk $1,500,000 6% cum
Q-J
1.078,500
See text
1st & ref M $5,000,000 gold? 1916
5 g F-A
1,700,000 Aug 1 1930
($100. $500 8c $l,000).c*tflint, at Fidelity Trust Co., Baltimore, Md.
STOCK AND BONDS—
Common stock
4
„
„
1st
MgdldParke?sburg lines,:
1898
5
150.000
1938
1902
5
550,000
|1942
cumulative from July 1 1916.
All of thd out¬
standing com. & pref. stock is owned by the Monongahela Valley Trac.Co.
Bonds.—The First & Refunding bonds are Issuable in series as the com¬
pany's needs require.
The present series. Series "A," is in the authorized
amount of $2,000,000, of which $1,700,000 were Issued in April 1917 to
retire the $1,100,000 2-year 5% notes due June 15 1917, and $150,000
Marietta Electric Company
bonds paid April 1 1917, and for ex¬
tensions, &c.
Provision is also made for refunding other underlying
bonds at or before maturity.
The bonds are subject to call Aug. 1 1920 or
any int. date thereafter at 105.
Fidelity Trust Co. and Van Lear Black,
of Baltimore are trustees.
1st M. bonds on Parkersburg lines are subject
Consol mtge all lines
Stock —Preferred stock is
to
call.
Dividends.—Divs. of 1
pref. stock were begun Oct. 1 1915.
31 (see above under "Control ):
Taxes.
Interest.
BaL.Sur.
quar, on
EARNINGS.—For years ending Dec.
Cal. Year—
Oross.
Net.
1919
$82,756
66,047
12o,656
$120,450
$42,000
$245,206
232,751
282,718
$744,512
642,325
609,393
125,967
120,088
PROPERTY.—Has system of street railways In the cities of Parkersburg, W. Va., and Marietta, Ohio, and an lnterurban railway from Parkers
burg. W. Va., to Marietta, and from Marietta through Lowell, Ohio, to
Beverly, Ohio, aggregating 60.84 miles.
Uses bridges of Mariette Parkersburg Bridge Co., one crossing the Ohio River at Marietta, O., and Williamstown, W. Va., the other crossing the Little Kanawha River at Parkersburg, W. Va., in which it owns the entire stock.
Supplies all electricity
for light and power in its territory except street lighting in Marietta.
In
January 1916 completed a new modern electric generating station in Parkersburg with a total capacity of 12,500 k. v. a., of which 6,250 k. v. a. is
installtxl, and owns 1 steam electric station, 1,600 h. p. for reserve and
1918
...
1917
emergency
40,736
36,974
M. Hartley; Sec., G. M.
J. N. Tabb.—V. 104, p.
*5-5
MISS.
PASCAGOULA,
PASCAGOULA STREET RY. & POWER CO.
■
P;<Sale and Abandonment.--The co.'s property was sold at a receiver s sale
early in September 1919 to K. J. Ford, attorney, a member of the firm of
White & Ford of Pascagoula, for $60,500.
The rails, we understand, have
been taken up and the rolling stock, &c., sold.
It is stated that the light,
water and ice plants will be remodeled and operated.
V. 109, p. 2172.
For history see "Electric Railway" section of Nov. 15 1919.
,
f
SUFFOLK
TRACTION
N. Y.
and work car.
CO,
,
,
t
.
*
^
CAMBRIA
under
of the
of *225.000 have IWn retired
ORGANIZATION.—Organized as successor to the Northern Cambria
Co., sold under foreclosure Mar. 31 1918.
V. 106, p. 2229.
P. 8. Comm. proposed fare
amounting to 3 cents per zone.
Provision is also made for com¬
tickets in books of 50 for $3 and workingmen's tickets in books of
Equipment Trust.—See V. 110, p.
$72,394; net, $3,562.
Patton, Barnesboro and Carroll
EARNINGS.—For cal. year 1919, gross,
ROAD.—Operates
miles between
13
Standard gauge, 70-lb. T and girder rails.
OFFICERS.—Pres., W. H. Denlinger; V.-P., Rembrandt
town.
PEEKSKILL,
PEEKSKILL
LIGHTING
Peale; Sec.-
2229, 2450.
Treas., James H. Allport.—V. 106, p.
Y.
N.
RAILROAD.
controlled by Consol. Gas Co. of N. Y. j
&
In 1909 Westchester Lighting Co..
Eurchased&the entire common stockLighting Co., of pref. p. 108. Peekskill
and a block V. 89, of the
lighting
RR.
See Westchester
as the Peekskill Lighting Co. on July
Peekskill Gas Light Co. and Peekskill
Name changed as above upon purchase of the
Peekskill Traction on Aug. 31 1900.
Comprises all the gas, electric light,
power and street railway interests of Peekskill.
Franchises of electrlolightlng plants and railways are perpetual.
Gas franchises liberal.
The company has been auth. by the Village of Peekskill to increase
fares to 6 cents.
See also V. 108, p. 2529.
ORGANIZATION.—Incorporated
12 1900; subsequently purchased the
Electric Light & Power
Co.
STOCK AND BONDS—
Outstanding.
$500,000
Interest.
Date.
Common $500,000 ($100)
Maturity.
1910,4%
6 J-D
130,500 Dec '17, 3%
1st mtge $750,000 ($1,000)/ 1900
5 g A-0
646,000 Oct 11930
'gold sinking fund..
c*l Interest at N. V. Trust Oo..N. Y., Trustee.
Stock.—$19,500 par value pref. stock has been reacquired by the co.
Preferred $150,000 6% cum..
interest.
Dale.
STOCK AND BONDS—
Maturity.
Outstanding.
$187,500
($100)
--------
1915
6 g J-D
398,700 Dec 1 1935
c*tf I Int.at Pa.Co.for Ins.onLives,&c.,Phila.,trus.
Second
mortgage
SlOOiOOO/ 1915
6 g J-D
93,000 Dec 1 1935
gold ($1,000)
C*tf[Int. at Wilmington (Del.) Trust Co.. trustee.
B<mds.—Remaining first mtge. bonds are Issuable for additional equip¬
ment, power plant and other property.
The mortgages provide that the
company's net income be applied—80% to the 1st M, and 20% to the 2d M.
bonus—to the purchase or bonds at not over par and interest, or to their
call at that price, the bonds to be canceled.
This sinking fund, however,
is not to exceed $50,000 in any one year and is to be reduced to 2% of
bonds outstanding when half the 2d M. bonds and all 1st M« bonds out¬
standing In excess of $225,000 have been retired.
The fund became opera¬
tive July 1 1917.
$33,700 1st M. and $7,000 2d M. bonds have been
retired.
Both issues are redeemable, all or part, at par and Int. on any int.
date on four weeks* notice.
The 2d M. Donds are all owned by E. I.
1st mtge $750,000 gold
$500 and $1,000)
Pont de
Nemours
($100,/
& Co.
Gross
Net, after
Earnings. Tax.,Depr.,&c.
Yeai^ ending Dec. 31 1919—.$143,998 def.$31,480
Year ending Dec. 31 1918-— 231,341
46,874
Balance,
Bond
Int.
Surplus.
$29,502 def.$60,982
31,601
15,273
F. Porter; Sec. & Treas..
886; V. 104, p. 765; V. 110, p, 1090, 1527.
OFFICERS.—Pres.-. J. Elliot Newlin; V.-P.. A.
Carl N. Martin.—V. 102, p.
ELECTRIC CO.
Receivership.—In Jan. 1920 Federal Judge Sheppard
appointed James G.
Holtzclaw, receiver for the company, on complaint of the Old Colony Trust
Co., Boston, the company being unable to operate at a profit on a 5-cent
V.
fare.
110, p. 465.
ORGANIZATION.—Incorporated In Maine on July 6 1906, and Is suc¬
to the Pensacola Electric Terminal Co.
Owns the securities of the
Escambia County Elec. Light & Power Co.
Does all the street railway
and (through the Escambia County Elec. Lt. & Pow. Co.) the entire electric
lighting and power business of Pensacola.
Railway franchise expires in
1933; lighting franchise perpetual.
In Jan. 1919 issued $500,000 2-yr. 7% notes to retire a like amount of
3-yr. 6% notes due at that time.
In order to retire floating indebtedness
amounting to $220,000 and to provide for exts. and impts. under construc¬
tion, the co. Issued in Jan. 1919 $420,000 1st Mtge. 5s due Aug. 1 1931.
V. 108, p. 79.
I
Bonds.—Whole Issue (but no fractional part) can be redeemed on any
110 and interest.
Sinking fund Ah provided at the rate of
Outstanding.
Maturity.
$800,000
300.000
See text
1906
1,218.000 Aug 1 1931
Int. at Old Colony Tr. Co
Boston .Trustee.
Couf>on notes $500,000 gold/ 1919
7 g J-J
281,900 Jan. 1 1921
($f00, $500 & $l,000).c*tf [Int. at Old Colony Trust Co., Boston, Trus.
Stock.—The preferred stock is redeemable at 115.
Bonds.—$159,000 are reserved for additions and improvements at 80%
of cost.
A sinking fund of lj-^% per annum of bonds outstanding began
Dec. 1 1907. first five payments were waivable, but became a fixed charge
on Dec. 1 1912.
Bonds subject to call as a whole at any time at 105 and
int., and in part for sinking fund only.
V. 83, p. 156; $123,000 have been
canceled.
Coupon notes are callable as a whole at 101 and int. on 30 days'
Pref $500.000 ($100)
1st mttre $1,500,000
Interest.
Date.
STOCK AND BONDS—
Common $1,050,000
($100)
6% cum
gold—tf/
J-D 1
5 g FA
■
notice.
$218,100 is in treasury.
i v... of 3%, was paid on pref. June 1 1907
Dividends.— First
and 3% was
strike on com¬
3% extra on
March 1910 paid another 3% on
paid Dec. 2 1907.
In "('08 June dividend passed because of
pany's lines.
None to Dec. 1909. when 3% regular and
account
of accumulation
were
paid.
June 1910 3% regular and 3% extra,
Dec., 3%.
In 1911, 1912 and 1913. 6%.
None to June 1916, when 3% was paid.
In Dec.
interest date at
account of accumulations;
$10.80 per bond outstanding, beginning Oct. 1903.
The remaining bonds
can only be issued for extensions, &c.. at 75% of actual cost, and only when
net earnings of the previous 12 months are equal to at least twice the inter¬
est on the outstanding bonds and the proposed issue.
See V. 71, p. 913.
all
$14,000 are in treasury.
Dividends.—6% per annum paid on pref. stock up to Dec. 1917.
None
since.
On common, in 1906, 1%; in 1907, 3^%; in 1908, 4%; in 1909,
4%; in 1910. 4%.
None since.
$240,757; net (after
taxes), $14,069.
In 1917, gross, from railway only, $62,389; net (after
taxes), from railway, def. $12,175; net from other sources, $48,529; non-oper.
income, $38; total income, $36,392; fixed chges., &c., $40,980; def., $4,588.
EARNINGS.—For year ending Dec. 31 1918, gross,
ROAD.—Owns and oberates 10.71 miles of track in Peekskill and to
Mohegan and
Verplanck's Point
Lake
accumulations;
June, 3%.
and
EARNINGS.—For 12 months ending Dec. 31:
Gross.
Net (after Tax.)
Interest.
p.
1918
——
Surplus.
$1,789
58,601
$100,485
87,067
$102,274
145,668
$543,592
506,050
ROAD.—Operates 21.7 miles of track: standard gauge; 35 motor and
11 trail pass, cars and 8 other cars. Power station has 2.800 k. w. capacity.
Chas. F. W. WetB. Sawyer; Managers, Stone &
Mass.—V. 108, p. 79; V. 110, p. 465.
OFFICERS.—Pres., Geo. J. Baldwin, N. Y.; V.-P.,
terer; Sec., Geo. A. Peirce; Treas., Haney
Webster Mgt. Assn., Boston,
with branch to State Camp.
PEORIA, ILL.
PEORIA RAILWAY TERMINAL CO.—For
our
"Railway and Industrial" Section.
2529.
1916 3%
In 1918, 6%.
Sink.Funds.
Year—
1919
OFFICERS.—Pres., F. A. Stratton, Mt. Vernon; V.-P. & Gen. Mgr..
Wilder, Ossining; Sec., Dr. B. W. Stillwell; Treas., R. A. Carter
Asst. Treas., H
D. Swain. Ossining.
General office, Peekskill, N. Y.—
190;V. 108,
In 1917, 6%.
1H% extra account of accumulations.
in arrears, 10^%.
paying up
In 1914,
Dividends
Stuart
V. 106,p.
V.
1527.
cessor
50 for $2.
,
_
PENSACOLA, FLA.
Fares.—In June 1918 filed with the Penn.
mutation
_
the N. J. P. U.
in each of the five zones.
110. p. 1090.
PENSACOLA
Street Ry.
increases
„
Feb. 28 1920 was auth. by
Fare Increase.—Effective
Comm. to increase fares from 5 to 7 cents
'
RY. CO.
plow
placed in a voting trust for five years,
which dividends are restricted to 6% per annum until at^least half
2d mtge. bonds and all of the 1st M. bonds outstanding^ excess
Voting Trust.—Tne stock has been
PA
"PATTON
NORTHERN
1917.
„
,
EARNING8.—
10 1919 the co. ceased operating
^
^
1915. Completed
of which 3H miles
In operation since
■
Period Covered—
owing owipg to the refusal of
the Patchogue Electric Light Co. to furnish it with any more power unless
the co. paid its bills.
V. 109, p. 1527.
For last statement of this company
published see the "Electric Railway" Section of Sept. 29, 1918,
On Oct.
J.
Aug. 15 1916, and the whole line to Salem (14 miles) since Jan. 22
70-lb. T rails; gauge, 4 ft. 8H in.
15 pass, cars, 1 combination snow
du
PATCHOGUE, LONG ISLAND,
N.
PENNSGROVE,
SALEM & PENNSGROVE TRACTION CO.—
■
ORGANIZATION.—Incorp. in New Jersey Sept. 14
a line from Pennsgrove to Salem, N. J., 14 miles long,
between Pennsgrove and Deep Water Point has been
Stock $850,000
purposes.
OFFICERS.—Pres., Thos. Logan; V.-P., J.
Alexander; Treas., O. F. Lough: Asst. Treas.,
1145, 1702; V. 105, p. 1522; V. 110, p. 561.
j
[VOL. 110.
ELECTRIC RAILWAYS
08
statement of this company
«ee
PUTNAM
&
WESTCHESTER TRACTION
CO.
ORGANIZATION.—incorporated in New York in July 1906.
Stock
First mtge., auth., $200,000;
outstanding, $71,000 gold (c*tf) 5% J-J, due July 1 1937; Int. at Columbia
Trust Co., New York, trustee.
Subject to call at 105 and int.
Earn¬
ings for year ending Dec. 31 1917, gross, $9,786; net, $639; fixed charges.
$3,921; deficit, $3,283.
On Dec. 12 1917 the P. S. Comm. granted auth.
to increase fares from 5 to 7 cents with sale of 4 tickets for 25 cents.
On
June 18 1919 fares were increased to 8 cents in Peekskill.
V. 108, p. 2529.
Road, 4 miles from Peekskill to Oregon, Putnam County.
Pres., Geo. E.
McCoy; V.-P., Frank M. Dain; Treas., Alfred J. Mason; Sec., H. D. Swain;
Asst. Treas. & Asst. Sec., Chas. Le Clair.—V. 106, p. 190; V. 108, p. 2529.
PETALUMA
&
ROSA
SANTA
PEN
ARGYL, PA.
ORGANIZATION.—Incorporated in California on Aug. 23 1918 as suc¬
to the Petaluma & Santa Rosa Ry. in accordance with reorganization
plan outlined in this publication of Sept. 29 1918.
Fares and Rates.—Effective Aug. 23 1918 was auth. by the Cal. RR.
Comm. to increase passenger by 5 cents and freight rates 25%.
In Oct. 1918 the Cal. RR. Comm: in a supplementary order auth. the
co. to issue $1,000,000 com. stock, $173,600 6% cum. pref. stock and $698,400 5^% 25-yr. 1st mtge.
as follows:
bonds.
Pref
in
Was formerly leased to the Lehigh Valley
Date.
Interest.
Outstanding.
Maturity.
($50)__J_
$360,000
$130,000
gold/ 1912
5 g J-J
130,000
1942
($500 & $1,000)
c*tfiInt. at the E. P. Wilbur Tr.Co..So.Beth.,Tr.
Second
mtge $270,000
gold/ 1912
4 g J-J
270,000
1942
($100. $500 & $l,000).c*tf [Int. atE. P. Wilbur Tr.Co..So.Beth., Trust.
Bcmds.—1st mtge. bonds are callable at 102 on any int. date.
2d mtge.
bonds are subject to call at par on any interest date.
Int. on 2d M.
STOCK AND BONDS—
Stock $360,000
First
mtge
bonds is in default.
EARNINGS.—Year
taxes, $25,126.
In
ending Dec.
31
1917,
gross,
$102,808;
net, after
1916,|gross, $90,599; net. after taxes, $23,498.
ROAD.—Operates 18 miles of track from Nazareth to Bangor.
rails.
10
cars.
6 miscellaneous
cum
$250,000
($100)($100)
Interest.
—
—
6%
Outstanding.
$770,700
1 1919 was
Maturity.
173,600
698,400 Sept. 1 1943
-----
by2 g M-S
lstmtge25-yr $750,000 ($100/ 1918
& $1,000) g
c&r i First Federal Trust Co., San Francisco, Trus.
Stock.—The common stock is deposited with the First Federal Trust Co.
7 years under proxy agreement; pref. stockholders have the right to
a majority of directors in case of non-payment of their dividends.
Preferred stock is redeemable at par.
Bonds.—Callable at 105 for sinking fund.
The mtge. provides that
for
elect
divs. shall be apportioned as follows:
(1) If earnings justify and conditions permit, a div. o'f 2lA % shall be paid
com. stock.
(2) Any amount remaining after such payment shall be
distributed 50% to common stockholders, 25% to a trust fund to retire
1st M. bonds and 25% to retire preferred shares.
Remaining unissued
bonds are reserved for construction.
Int. payable in New York & San Fran.
earnings ordinarily applicable to com.
on
Dec. 31:
;
Net.
Other Inc.
Charges.
Surplus.
$120,608
$725
$54,383
$66,950
1918
92,640
492
59,398
33.734
590,478 railway passengers carried in 1919, against 551,820 in 1918,
114,256 tons freight in 1919. against 120,077 in 1918.
EARNINGS.—For years ending
Year—
1919
Gross.
$370,181
340,508
ROAD.—Operates 43 miles of track from Petaluma through Sebastopol
Santa Rosa, with branches Sebastopol to Forestville and Liberty to
Rocks.
Connects at Petaluma with steamers for San Francisco.
Owns steamers "Gold" and "Petaluma."
Standard gauge.
70-lb. T rails.
to
67-lb.
cars.
OFFICERS.—Pres., A. H. McAdams, Phila., V.-P., Dr. J. C. Keller;
Sec., G..A. Schneebeli; Treas., Thomas J. Ryan; Gen. Mgr., J. T. Hamil¬
ton—
103, p. 2156; V. 104, p. 765.
Capitalization as of Sept
Date.
Com stock $1,000,000
RY—A trolley road.
Pennsylvania on Feb. 14 1899.
Traction Co., but lease canceled
on May
10 1904, owing to default In payment of rental.
For changes in
directorate and officers in Feb. 1917, see V. 104, p. 765.
Committee for 2d M. 4s.—George K. Mosser, AHentown, Pa.; Alan O.
Dodson, Bethlehem, Pa.; W. W. Doughten, Brown Bros. Bldg., Philadel¬
phia, Pa.; Thomas A. Keck, Falmouth, Mass.; Frank M. Horn, Catasauqua. Pa.; Hubert E. Rogers, Sec. & Counsel, 60 Wall St., N. Y. City.
Depositary: New York Trust Co., N. Y.
See V. 103, p. 2156.
ORGANIZATION.—Incorporated
RR.
cessor
STOCK.AND BONDS—
SLATE BELT ELECTRIC STREET
CAL.
PETALUMA,
authorized and issued. $75,000; par. $100.
Two
OFFICERS.—Pres.,
Thomas
Maclay,
Petaluma, Cal.:
V.-P.
Mgr., E. H. Maggard; Treas., Geo. P. McNear: Sec.. R. W.
H. W. von Emster.—V. 107, p. 697. 906, 1193, 1580, 1670.
& Gen.
Wise; Aud.„
Apr., 1920.]
ELECTRIC RAILWAYS
STOCK AND BONDS—
Date.
Ohio Vail Elec coll tr gold.ntf 1911
PHILADELPHIA, PA.
UNITED NATIONAL UTILITIES CO.—A holding co.
ORGANIZATION.—Incorp. in Del. Feb. 26 1917, and has acquired
practically the entire
common stock
of National Properties Co. (Bee below).
Through its subsidiary companies supplies electric light and
99
power to more
than 50 cities and towns in Eastern United States, gas to 11 cities and towns,
and operates 623 miles of electric railway service in portions of the same
territory.
See V. 104, p. 1703.
Franchises either perpetual or for long
periods; no burdensome restrictions.
Interest.
Outstanding.
Maturity.
5 J-J
$2,000,009 Jan
11961
Lynchb & Roan coll trust/ 1910
5 J-J
987,500 Jan
11930
$1,000,000 gold ($500 &?Int. at Real Estate Tftte Ins. & Trust Co.,
$1.000)
c*tf I
Philadelphia, Trustee.
Nat Gas coll trust
$1,000,000/ 1917
5 M-S
982,600
Mar 11922
($100, $500, $1,000)-C*-tf\lnt. at Commercial Tr. Co., Phila., trustee.
Jersey Central Tract coll tr/ 1917
6 g M-S
570,000 Marl 1947
$570,000 gold ($l,000)c*tf \Int. at Commercial Tr. Co., Phila., trustee.
Car
trust
ctfs
'"A"
Series
ctfs
Series
The pref. stock was brought out in
and $500 com. stock for $1,000.
V.
April 1917 at the rate of $1,000 pref.
104, p. 1703.
The Utilities Service
Corp., Phila., which brought out the stock, also offered to exchange the
Car
stocks of the United National Utilities Co. for 4-6% coll. tr. bonds of the
Oar trust certificates Ser
National Properties Co. on the basis of $700 6% pref. and $350 com. stock
of the United Co. for $1,000 bond of the National Properties Co.
The company being unable to take up the $1,800,000 6% collateral trust
notes due March 1 1920, it was arranged to extend same for 3 years at 7%.
V.
110. p.
659.
STOCK AND NOTES.
Date.
Interest.
Outstanding.
Maturity.
$3,000,000
2,500,000
Dec '17 1H%
7 M-S
1,800,000
Mar 1 1923
t f JPa. Co. for Ins. on Lives, &c., Phiia., trustee.
Com. stock, $10,000,000 ($100)
Q-M
Pref.6% cu.$10,000,000($100)
Coll.
tr.
notes,
$1,800,00011917
($l,000)--_
Preferred Stock.—In case of liquidation or dissolution or distribution of
assets, holders of pref. stock shall be paid par and divs. before any amount
shall be payable to holders of com. stock.
Callable at any div. period at
105 and divs., and no additional shares can be issued except under proper
restrictions.
Notes.—The direct obligation of the co. and secured by $2,500,000 (entire
issue) Nat. Properties
Co. com. stock and $570,000 American Rys.-Jersey
Red. any int. date at 101 and Int.
Tax
These originally bore interest at the rate of 6%
per annum and matured March 1 1920, but have been extended to March 1
1923 at 7%.
V. 110, p. 659.
Dividends.—Quar. divs. of 1)4% on pref. stock were begun June 1 1917
and paid reg. to and incl. Dec. 1917.
V. 107, p. 2009.
None since.
Central Traction coll. trust 6s.
refund in Pennsylvania.
EARNINGS.—Income of the controlled cos. for cal. year 1916 available
$528,162; annual int. on notes, $108,000 and pref. divs., $150,000; balance for common, $270,162
for int., &c.,
OFFICERS.—Pres., Van Horn Ely; V -P., William C. Sproul; Sec. A
Treas., Walter W. Perkins.—V. 105,p. 1310; V. 107, p. 2009; V. 110, p. 659.
NATIONAL PROPERTIES CO.
Controlled by United National Utilities Co.—see above.
ORGANIZATION.—Incorp. in Del. in May 1912 to acquire and oper¬
gas, electric and water companies, and street or interurban railways
other public utility properties.
Acquisition of American Rys.—As of Jan. 1 1916 acquired control of the
American Railways Co. through purchase of a majority of its $6,713,150
common stock then outstanding, paying therefor at
par in guar. coll. trust
bonds. (As of Sept. 11 1917, $6,479,750 of the stock had been so acquired.)
ate
or
At the
same
time it turned
ings of $4,060,000
com.
over to
the American Rys. Co. of Del. its hold¬
stock of the Wilm. & Phila. Trac. Co., receiving in
payment a further amount of $2,560,000 com. stock and $l,500,000 pref.
stock of The American Rys. Co. of N. J.
See V.101, p. 1473,1714.
Total
common stock of American Rys. Co. owned as of Sept. 11 1917, $9,039,750.
Also owns or controls the Water Co. of Tonopah, Chester County Lt.&
Power Co. and New Castle County Electric Co.
Holders of the company's 6% pref. stock of record Aug. 14 1916 were
trust
I
1913
6 F-A
60,'600
See text
1914
6 F-A
81.000
See text
tf]
($1,000)
($1,000)
"B"j
c*ntf\
"C"J
1916
See text
107.000
5 F-A
($1.000)
__c(Logan Trust Co. of Philadelphia, trustee.
Car tr cert Ser D ($1,000)-c*tf 1917
6 A-0
170.000
See text
Stock.—Pref. stock is red. at any time at 110.
Pref. & com. stock are
listed on Philadelphia Stock Exch.
The pref. stock was auth. by share¬
holders on Oct. 17 1912 (V. 95, p. 889, 1038, 1206) and the auth. amount of
common stock was reduced from $25,000,000 to
$21,000,000.
Notes.—For securities pledged as coll. for notes, see V. 108, p. 577.
Red. all or in part on any int. date at 101 and int. on 60
days' notice.
Penna. 4 mills tax refunded.
Company pays normal Federal income tax.
V. 108, p. 577.
Bonds.—The 5% Scranton Ry. pref. stock gold trust certifs., due 1935,
were called for redemption at 102 H and int. on March 11917.
V. 104. p.71.
The collateral for the bonds of 1917 consists of $1,475,000 stock of the
Altoona & Logan Val. Elec. Ry. and $1,975,000 stock of the Scran.
Ry. Co.
Coll. trust bonds of 1911 have'no sinking fund but bonds are subject to
call on any int. date at 102.
The collateral for the bonds consists of $2,250,000 stock (out of $2,500,000 issued) of the People's Ry. of Dayton and
$1,600,000 first consol. 5s of the Chicago & Joliet Electric Ry.
Lynchburg-Roanoke coll. tr. bonds are red. on any int. day at 102 H and
int.
They are secured by deposit of 14,975 shares and 9,725 shares of
Lynchb. Trac. & Lt. Co. and Roanoke Trac. & Lt. Co. stocks, respectively.
Bonds are listed on the Philadelphia Stock Exch.
The Jersey Central Trac¬
tion coll. trust 6s are all owned by the United National
Utilities Co. and
deposited under its collateral notes.
Are secured by $531,400 com. stock
of the Jersey Central Traction Co. and $305,000 com. stock of the Mon¬
mouth Lighting Co.
Red. at 102)4 and int. on any int.date.
Car Trust Certificates.—Of Series "A," 15 certfs. mature
Aug. 1 each year,
to 1923 inclusive.
Series "B," 11 ctfs. mature Aug. 1 1915 to 1925 Incl.
15 mature Aug. 1 1926.
Series "O" ctfs. mature $11,000 yearly Aug. 1
1917 to 1920 and $12,000 yearly Aug. 1 1921 to 1928. They were issued by
the Logan Trust Co. and unconditionally guar.,
p. & 1. (end.), by the Amer.
Rys. Co.
V. 103, p. 1031.
Series "D" certificates mature $21,000 each
July 1 from 1918 to 1926, and $23,000 July 1 1927.
CONTROLLED.—The following Is a list of the securities owned by The
American Railways Co.:
Owned by
Book
Outstanding. Am.R.Co.
Value.
Rys. Co. of Del. common stock_-_$2,561,000 $2,561,000 $2,561,000
do
do
do
preferred stock.
1,500,000
1,500,000
1,500,000
do
Ohio Valley coll. trust 5s
2,000,000
726,500
623,195
do
Lynchb. & Roan. coll. tr. 5s987,500
1,500
1,393
do
preferred stock.
4.OOO.0OO
32,500
32,500
do
Nat. Prop.—A. R. Co. 4r6s 6,900.000
105.000
79.062
Altoona & Logan Valley / Stock
1,500,000
403.750
1,500,000
1 Consol M. 4Hs 3,754,000
454,000
388,280
Boyd County Elec. Co. stock
155,000
155.000
149.800
Bridgeton Electric Co./Common stock..
100,000
92,270
100,000
(Preferred stock.
50,000
50,000
50,000
Bridgeton & MIllville(N.J.) / Stock
500,000
459,364
500.000
Traction Co
(5s
500.000
16.000
16,580
Chicago & Joliet Elec. Ry./Stock
2,300,000
121,676
2.300,000
(Gen. M. 5s— 1,600,000
1,600.000
1,280,000
Chic. &DesplalnesVal.El. Ry./Stock __ 1,100,000
1,100,000
58,193
11st M.5s 1,000,000 1,000,000
800,000
Chicago Rys. Co. participating ctfs
115,237
Consolidated Light, Heat & Power stock
530,000
530",000
530,000
Dell wood Park Co. stock
150,000
150.000
160,000
Electric Co. of New Jersey/Stock
157,500
156,519
157,500
15s
319.000
319,000
293,128
Electric Securities Co., N. J./Common.
300,000
69,507
300.000
(Preferred.
40,000
40,000
40,000
Franklin Real Estate Co. stock
10,000
10,000
10,000
Iron ton Electric Co. stock
150,000
150,000
150,000
Jersey Central Trac. Co. common stock.
631,400
631,400
265,061
Johnstown Trac. Co/Common
8.000
5,146
1,000,000
754,400
(Preferred
1,000,000
754,400
750,000
751,124
(Stock
750,000
Lynchburg Trac. & Light? 1st 5s
2,000
1,800
800,000
(Consol.M. 5s.
720,000
704,000
598,887
Monmouth Lighting Co. capital stock..
305,000
305,000
305,000
National Gas, Elec. Light & Power Co.. 1,403,800
1,376,200
963,384
Ohio Valley Elec. Ry., common
2,000,000
1,979,080
2,128,078
People's Ry. of Dayton, O., stock
2,500,000
2,500,000
2,734,229
Roanoke Trac & Light stock
1,000,000
975,000
781,124
Scranton Railway Co. Common
2,000,000
2,000,000
2,005,200
/Common stock 1,000,000
994,400
39,959
Springfield, O., Ry. CoJ Pref. stock
500,000
500,000
500,000
Union Traction Co. stock
12,500
15,106
The Peakland Corporation
50,000
50,000
50,000
Wilm. & Phila. Trac. 1st coll. trust 5s__
40,000
34,000
Amer.
_
_
given the opportunity (up to Sept. 1 1916) of exchanging their shares for
of the American Rys. Co. 7%
pref. stock owned, on the basis of
10 National Prop. Co. 6% shares for 9 American Rys. Co. 7% shares, with
adjustment of accrued uiv. in cash.
V. 103, p. 666.
Holders of about
96% of Nat. Prop. Co. pref. stock availed themselves of the privilege.
shares
STOCK AND BONDS—
Date.
Common $10,000,000 ($100).
Pref cum $10,000,000 ($100)
ColltrM $7,000,000 (par
less than $100)
Interest.
6 J-J
not?
1
Outstanding.
Maturity.
$2,491,400 Dec'17,1%
1,699.400
See text
1916
See text
6,479,750 Jan
11946
Continental-Equip. T. & T. Co., Phil..Trus.
Stock.—$7,900 com. stock In addition to amount reported outstanding
la held in treasury.
Pref, stock sink. fd. provision began. Jan. 15 1918.
Bonds.—The coll. trust bonds bear int. at 4% for first two years, 4H%
for next 2 years and
5% thereafter, with a provision to increase the int.
up to 6%, paid by the company on its
on or after Jan. 1.1921 at 102M and int.
Secured
by deposit of common stock of the American Rys. Co. acquired in exchange
for the bonds and the additional $2,560,000 common stock received in ex¬
change for Wilm. & Phila. Trac. stock, against which no bonds will be
Issued.
V. 101. p. 1714.
Dividends.—6% was regularly paid on pref. stock (3% semi-ann.) from
July 1913 to and incl. Jan. 1918
July 1918 and Jan. 1919 divs. were
omitted.
In July 1919 a div. of 3% was paid.
Initial div. on com.—2%—
paid July 1916; Dec., 3%.
In 1917, July, 2%; Sept., 1%; Dec., 1%.
Earnings.—Gross earnings of subsidiary cos. for year ending Dec. 31
1916, $8,960,798; in 1915, $7,671,313.
Net earnings of Nat. Properties Co.
(incl. proportion of undistributed net earns, of sub. cos.) for 1916. $812,541;
pref. divs*, $63,203; common divs., $124,570; surplus, $624,768.
rate to
equal the rate of dividend,
common
Red.
6tock.
OFFICERS.—Pres., Van Horn Ely, Phila.; V.-P., A.
Pittsburgh; Sec. & Treas., H. P. Carr. Phila.—V. 103,
1045, 1702, 1899; V. 109, p. 888.
C.
p.
Robinson,
666, 2341;
Y. 104, p. 952,
...
THE AMERICAN RAILWAYS CO. (of New Jersey).
On Jan. 1 1916 the National Properties Co. acquired control through
purchase of practically all of the company's com. stock at par.
See remarks
under "Organization ' below.—V. 101, p. 1464, 1712, 1805.
Total book value
ORGANIZATION.—The American Rys. Co. was incorp. under laws of
N. J. in 1900 as a consolidation of the former American Rys. Co. and the
United States Electric liy. & Light Co., which latter had only $1,000 of
Interest, taxes, &c
outstanding stock.
In Feb. 1913, after the passage of the "Seven Sisters"
bills in N. J., as a precautionary measure, a Delaware charter was taken out
by the "American Railways Co. of Del.," with the same authorized capital
stock as The Am. Rys. Co. (of N. J.), but with only $1,000 paid in.
The
Am. Rys. Co. held this $1.000 stock and subscribed to the remainder.
In
Dec. 1915 the Am. Rys. Co. of Del. called on The Am. Rys. Co. to take
$1,500,000 pref. and $2,560,000 com. stock, and accepted in lieu of cash,
same par of 6tock of the latter, with which it (the Del. co.) acquired the
stock of the Wilm. & Phila. Trac. Co.
In Dec. 1905 purchased a controlling interest in the Scranton Ry. Co.,
paying par ($50) for both common and pref. stock.
V. 81, p. 1847; V. 82.
p. 1375; V. 104. p. 71.
In Jan. 1910 acquired control of the Johnstown Pass. Ry., the Lynchburg
Trac. & Light Co. and the Roanoke Trac. & Light
Co. (V. 89, p. 1595;
V. 90, p. 235), and made two new issues of collateral trust bonds to provide
in part for cost of same.
V. 89, p. 1595; V. 90, p. 235.
In Jan. 1914 the
Amer. Rys. sold the Johnstown Pass. Ry. stock to the Johnstown Traction
Co. (see under "Johnstown") and the collateral trust bonds were called for
Common
payment July 1
1914.
Peakland
Corporation was formed during 1909-10 with $50,000
stock (all owned by American Rys.), to acquire and own real estate In
vicinity of Lynchburg.
In Aug. 1911 acquired the Ohio Valley Elec. Ry. and issued $2,000,000
coll. trust bonds to pay for same and for ext. and impts.
V. 92, p. 1435;
The
V.
93,
P.
468.
On March 1 1917 acquired the National Gas, Elec. Light & Power Co.
(V. 101, p. 135.)
In May 1917 acquired the Jersey Central Traction Co.
(which see under "Keyport, N. J.") and the Monmouth Ltg. Co.
In Jan. 1917 $1,750,000 10-year 5% coll. trust bonds were Issued to
provide in part for the $2,500,000 bonds maturing April 1 1917.
bonds
are
secured by the
same
collateral
as
The
new
the original issue. V. 104. p. 361.
In Feb. 1919 issued $3,000,000 3-yr.
7% notes to take up $1,672,000 5%
notes which fell due on Feb. 1 1919 (the major part of the old issue being
exchanged for new notes), and to provide funds for corporate purposes.
V. 108, p. 577.
STOCK AND BONDS—
Common
Date.
$21,000,000 ($50)
$4.000.000($100)
Pref 7% cum
3-yr secured notes
($1.000)
$3,000,000/ 1919
Interest.
J-D 15
7 Q-F
7 F-A 1
Outstandina.
Maturity.
$9,460,000
See text
4,000.000 Feb 20. 1H
3,000,000 Feb
11922
clPenna.Co.for Ins.on L.&Gr .Ann.,Phila., Tr.
$1,750,000 gold
1917
5 M-S
1,750.000 Mar 1 1927
Collat Trust $2,500,000 gold? 1911
5 F-A
2,500,000 Aug 1 1931
conv ($500 & $1,000).c*tf (Int. at Merchants' Un. Tr. Co.. Phila..Trus.
Coll tnist
$22,053,952
REPORT.—For fiscal period:
Years ending Dec. 31—
1919.
Gross income, all sources $1,795,436
Net
income..
1,171,117
1918.
$1,321,563
1,029,097
$1,568,718
874,130
$624,319
(3%%)331,101
280,000
$292,466
280,000
$12,466
$36,188
1916.
$1,538,269
785,931
280,0^0
$13,219
dividends
N
Preferred dividends (7%)
urplus.
•
1917.
one
$694,588
$752,338
(4 %)378,400(4%)378,400
280,000
+
$93,938
COMBINED EARNINGS OF CONTROLLED COMPANIES.
Year—
1919.
1918.
1917.
Calendar
Operating revenues
$16,312,231 $14,234,405 $12,863,405
Operating expenses and depreciation.$11,240,406 $10,065,673
$8,630,331
Taxes
744,808
631,063
596,387
Operating income
Non-operating income
Gross
Interest, rents,
Sinking fund.
Net
&c
income
$4,327,( 16
38,. !54
$3,537,668
125,588
$3,636,687
56,133
$4,365,270
$2,596,674
53,764
$3,663,256
$2,568,145
49,816
$3,692,820
$2,371,170
30,698
$1,714,831
income
.
$1,045,296
$1,290,952
DIVIDENDS.—Quarterly dividends of \ %A% each on pref. stock were
begun in Feb. 1913.
First dividend on common stock, 1%, Dec. 1900.
In 1901 paid 1% each in Mar., June and Sept.; In Dec. paid iy%.
In
1902 paid 1M% each in Mar., June and Sept.; in Dec. 1902 div. was in¬
creased to ly, %. which rate was continued up to and including Sept. 1914.
In Dec. 1914 rate was reduced to 1*4% (V. 99, p. 1450).
In 1915 March,
IVi %; June, IH %; in Sept. 1915 rate was further reduced to 1% (V. 101,
p. 526); Dec., 1%.
In Jan. 1916 dividend periods were changed to June
and Dec. 1915. V. 102, p. 436. In 1916 and 1917. 4%.
June 1918 divi¬
dend passed.
V. 106, p. 2227, 2343.
None to June 1919, when lJi%
was paid.
In Dec. 1919, 1J£%.
ROAD.—Total track about 435 miles; about 789
cars.
See also
Wilming¬
Co. below.
Also owns about 316 acres of land for parks
In Altoona, Dayton, Springfield, Bridgeton, Joliet, Lynchburg and Roanoke.
OFFICERS of The American Rys. Co.;
Pres., Van Horn Ely. V.-Ps..
ton & Phila. Trac.
John Gribbel, C. L. S. Tingley; Sec. &
Treas., Walter W. Perkins; Asst.
Sec., Asst. Treas. & Comp.. Frank J. Pryor Jr., Gen. Counsel, H. B. Gill:
Mgr., H. J. Crowley.
General offices, Wituerspoon Bldg., 1321
Walnut. St., Phila.—V. 106. p. 2337. 2343; V. 107. p. 2007; V. 108.
p. 478.
Gen.
577,
(1)
1390, 2240, 2524, 2628; V. 110, p.
Bridgeton
&
1186.
Millville Traction.—Trolley.
ORGANIZATION.—Chartered in New Jersey as successor May 3 1897
to the South Jersey Traction Co., sold in foreclosure.
Company owns two
toll roads besides the trolley road.
Franchise is perpetual.
1917 the New Jersey
Id Nov.
P. U. Comm.
approved the action of the
In abandoning the sp»jclal rate of 6 tickets for 25c. and 50 for $2.
On April 29 1919 the company was authorized by the N. J. P. U. Comm. to
Increase fares in each zone from 5 cents to 6 cents and also to raise the rates
company
for freight service.
mitted.
V. 108, p.
An increase in the rate for
1822.
school tickets was not per¬
Maturity.
Outstanding.
Interest.
Date.
AN 11 BONDS—
STOCKS
500.000 Jan
1 1930
5gJ-J
$500)(Interest at Equitable Trust Co., Philadelguar
($1,000
and
(cannot be called).
*ctf(
phia, Trustee.
Bonds.—For form of guaranty by American Railways Co. see V. 71. p
491.
The bonds were listed on the Philadelphia Stock Exchange in Feb
1901.
The following are deposited as security under the inortgage:
1,000 shares of the stock of the Bridgeton Rapid Transit Co.
377
"
" "
"
" "
Bridgeton & Millville Turnpike Co.
$250,000 (entire issue) 5% gold bonds of the Bridgeton Electric Co.
EARNINGS.—For year end. Doc. 31 1917. gross. $138,209: net. after
deducting taxes, interest, &c., $12 047.
ROAD.—Bridgeton to Millville. 11 miles; Bridgeton to Bivalve. 2m
miles; Bridgeton, local, 5miles.
Total, 37% miles. Cars: pass., 29;
total.
5;
Bands.—$400,000 of the above
gold.f
ROAD.—Owns 39 miles of
1900
34.
Tingley; Sec. & Treas.,
V. 72, p. 282; V. 105, p.
(2) Bridgeton Electric Co.—Acquired In 1899 by American Railways Go
ORGANIZATION.—Chartered In New Jersey Dec. 2 1895.
Supplies
light and power In Bridgeton, Cedarville.
and Port Norris, N. J.
Stock, common
Newport, Fairton, Dividing Creek
auth. and outstanding. $100,000.
Operates 82 passenger cars.
track.
31 1916. gross. $117,317;
EARNINGS.— For year ending Dec.
$115,468; net income
taxes.
OFFICERS —Pres
Sec, & Treas.. W.
Pryor Jr.: Gen. Mgr.. Geo.
net. after
$15,829
V.-Ps., H.J. Crowley and O
Paul C. Martin;
,
Tingley;
L. S.
W Perkins; Asst. Sec., Treas & Comp . F. J.
C. Towle.—V. 98. p. 1609 V 100, p. 557.
(7) Altoona & Logan Valley Electric Railway.—Trolley.
ORGANIZATION.— Incorporated in Pennsylvania Aug. 5 1903.
$65,000 stock of the Lakemont
the entire
Owns
Park Co., also $58,000 of the
$59,000 stock of the Home Electric Light & Steam Heating Co. of Tyrone
(Into which the Blair Electric Go Incorporated in 1908 to do a lighting busi¬
ness, having perpetual franchise and 10-year contract to light town of Bellwood
was merged in 1910-1!) ari l leases that company for 99 years from
July
Ely; V.-Ps.. II. J. Crowley and C. L S.
Walter W Perkins: Gen. Mgr., B. F. Hires.—
2093; V. 108, p. 1822.
OFFICERS.—Pres., Van Horn
outstanding bonds provided for by serial
maturity, I. e., $12,500 due Sept. 1 1914 to 1923 incl , $25,000 due .Sept. 1
1924 to 1934. the remaining bonds .$4,600 000) due Sept. 1
1935
Sinking Fund.—When more than $1,250.000 bonds outstanding, sinking
fund of 1% to 1923 and 2% thereafter of bonds outstanding over and above
the $1,250,000 of original issue.
The escrow bonds ($3,756,000) reserved
for extensions, betterments, &c., at 80% of cost.
Redeemable any interest
date at 102 and Interest.
V. 98, p. 1609.
$500,000
Stock. $500.000 ($50)
First
mtge
$500.000.
others,
[Vol. 110
ELECTRIC RAILWAYS
100
the
1 1903; $54,000 of this stock Is
consolidated mortgage
In Aug.
deposited as additional security for
1903 absorbed by consolidation the
Passenger Ry. and the Tyrone Electric Ry. (previously owned) and
Increased Its capital sotok from $500,000 to $1,500,000.
V. 77. p. 1745.
In 1912 acquired the Ix>gan Light & Pow. Co. of Tyrone, and operates same
(n conjunction with the Home Elec. Lt. St Steam Htg. Co
V 94. p 696.
The American Railways Co. owns entire stock Altoona & Logan Valley
Electric Ry
and $454,000 consolidated mortgage bonds.
In Nov. 1917 $53,000 additional bonds were issued for exts. and impts.
City
prof. auth. $200,000; outstanding. $50,000Bonds. $250,000 1st M. 5*% '•
STOCK AND BON DM—
Date.
Interest. Outstanding. Lastdiv.,&c.
gold bonds (tf) $1.000 each, dated July 1 1900, due July 1 1930. Interest ) Stock $ 1,500,000 ($50)
...
$1,500,000 See text
J. & J. at office of the company:
Real Estate Title Insurance & Trust Oo.i
; Con so I mtge S4.b00.000 goldf 1903
4H«F-AI5 3.807.000 Aug 15 1933
Philadelphia, Trustee.
Whole issue is pledged with the trustee of the I
($500 and $1 000) guar byUnterest at Equitable Trust Co., Philadelmortgage of the Bridgeton & Millville Traction.
This was done so as to
Arnerican Rys Co._.c<Scr.tf\
phia. Trustee.
bring the two properties (which are practically one) under the one mortg'e
Remaining $193,000 bonds are reserved for extensions.
These bonds are
(3) Chicago & Desplaines Valley Electric Ry.
ORGANIZATION.—Incorporated in 1901 as a consolidation of the Chic.
Desplaines Valley Elec. Ry. and the Desplaines Valley Elec. Ry.
The
American Railways owns the entire capital stock, of which $1,000,000
Is pledged under the mtge. of the Chicago & Joliet Elec. Ry., and also owns
the entire $1,000,000 bonds, the whole amount being pledged.
&
Interest.
Date.
STOCK ANI) BONDS—
Stock. $1,100.000
Maturity.
Outstanding.
- —
$1,100,000
$1,000.00011901
5 M-N
1.000,000 May 1 1931
($1.000)
gold
c* tfllnt. at, Illinois Tr. & Sav, Bk.. Chic.. Trustee
Iionds.—The full issue of the first mortgage bonds has been deposited as
collateral security under the bonds of the Chicago & Joliet Electric Ry.
First
fund
Ely; V.-Ps., H. J. Crowley and C. L. S
Walter W. Perkins; Gen. Mgr., J. it. Blackball.—
(4) Chicago & Joliet Electric Ry.—Trolley.
ORGANIZATION.—Incorporated as a consolidation of the Chicago &
Joiiet RR. Is oper¬
of Northern Illinois.
$2,300,000 capital
stock.
In Nov. 1905 the American Rys. purchased 63 acres of land near
Joliet, which was converted into a park.
This park is owned by the Dellwood Park Co., all of whose stock is held by the American Railways Co
Fare Increase.—In July 1917 111. Pub. Utilities Comm. granted an Increase
in fares to maximum charge of 2c. per mile with a minimum charge of 5c.
This raised the average rate per mile from 1.34c. to 1.87c. and, it was
estimated, would allow the company to earn a little over 6% on its invest¬
ment.
In Aug. 1918 applied to the 111. P. U. Comm. for auth. to increase
fares from 1.87 to 2 cents per mile.
V. 107, p. 500.
In Sept. 1919 the
Illinois P. U. Comm. auth. the co. to increase fares to 10 cents for adults.
Joliet Rapid Transit Co., theJoJiet Street Ry. and the
ated by power purchased from the Public Service Co.
The American Rys. owns $1,600,000 bonds and the entire
109,
V.
981.
p..
STOCK AND
Maturity.
Outstanding.
Interest.
Dale.
BONDS—
'
Stock. $2,300,000 ($100).....
$2,300,000
,,
5 g M-N
1.600.000 May 1 1931
Chicago & Joliet Electric Ry)
Int. at Illinois Tr. & Sav; Bk., Chic., Trustee
g. $2,000,000 ($1,000) c*tf I
1898
5 g M-N
400.000 Apr30 1923
Joliet RR general mtge, gold]
1901
$400,000 ($1,000 each)„.tf J Fidelity Trust Co.. Portland (Me.),
I
Bonds.—Of the new $2,000,000 mortgage. $400,000 are reserved
Trustee,
to retire
Chi¬
$1,000,-
underlying liens.
$2,200,000 of the outstanding capital stock of the
& Joliet Electric Ry.. $1.000.000 of the $1,100,000 stock and
000 (entire issue) bonds of the Chicago & Desplaines Valley Electric Ry.
cago
are
deposited under this mortgage as collateral security.
Entire issue of the
$2,000,000 gold 5s may be called at 105 and int.
The $400,000 Joliet RR.
gen. mtge. 5s originally fell due In 1918, but were extended for 5 years.
V. 106, p. 1343.
31 1916 (incl. Chic. & Desplaines
$651,956; net, after taxes, $162,615; int.. $271,166;
EARNINGS.—For year ending Doc.
Vail. Elec. Ry.), gross,
In
ROAD.—Extends from Joliet to the Will County line, where It connects
the Chicago & Desplaines Valley Electric Ry. for Chicago.
Has
Chicago was
Chicago & Desplaines Valley Electric
183, 722; V. 106, p. 1343; V. 107, p. 500; V. 109, p. 981.
OFFICERS.—Same as for
V. 73, p.
People's Railway (Dayton).—A trolley
Acquired in 1899 by the American Railways
(5)
Ry.—
STOCKMAND
Interest.
Date.
BONDS—
Outstanding.
$2,500,000
"White
Line,"f 1895
5 g A-O
300.000
$300,000 ($500) gold, red ^Interest at Union Savings Bank
Cincinnati, Trustee.
Oct 1 1900 at 110
ntf
1897
5 g J-J
200.000
First
mtge
"People's
Ry"
First
mtge
$200,000
at
110
"
($500). gold. red(Interest at Union Savings
ntf I
Cincinnati, Trustee.
EARNINGS—For year ending Dec.
&c.t $150,432.
Tingley; Sec. <k Treas., Walter W. Perkins; Gen. Mgr., S.'S. Crane.—V. 79,,
p
680; V. 80. p. 649. 710. 2456, 2619; V. 82. p. 333. 391, 803; V. 94, p. 699.
(8)
Maturity.
Oct 1 1925
& Trust Co.,
Jan 1 1927
Bank & Trust Co.,
31 1916. gross. $579,851; net, after
Railway.—Trolley.
without
n.„
On April 23 1919 the Penn. P. S. Comm. ordered the company to
tickets to be sold at 4 for 25 cents.
The 7-cent
for one year and the ticket rate for 6 months, and
thereafter until otherwise ordered by the Comm.
A valuation of the com¬
pany's property is provided for in the Commission's order.
V. 108, p. 1938.
V. 109, p. 2263.
Compare V. 107, p. 2098.
$200,000 Peoples St, Ry. 1st M. 6s, which matured Aug. 1 1918, were
paid off in cash.
STOCK AND BONDS—
Date.
interest.
Outstanding.
Maturity
p.
all schedules and route all cars,
five years at its depreciated valuation
make the aforesaid amount equal to
and plus a further sum (in full com¬
for all profits lost by purchase) equal to 10% of the actual de¬
city the right to arrange
pensation
preciated value; and the city may. at any
take possession and operate the road at an
time. If service is unsatisfactory
annual rental equal to 6%of its
The company must pay the city 1 % of its gross earn¬
ings for the first 10 years, and \H% for final 15 years, In lieu of all car and
pole licenses.
Fare, 6 tickets for 25 cents and 25 for $1 until gross earnings
reach $800,000 yearly, when 7 tickets must, be given.
V. 96. p. 1298:
physical valuation.
100. p. 557.
On April 8 1914
1005.
reduce its fares to 7 cents,
cash fare is to continue
Stock
$2,000,000
($50)
lst&ref M $15,-J 1917
5 F-A
2.500,000 Feb 1 1947
($l,000)_-c*rtf Int. at Mercb. Un. Tr. Co.. Phila., trustee.
1892
6 g M-N
1,000.000 Nov 11932
Scran Trac 1st M $1,000,000
Int. at Merchants' Union Trust Co., Phila.
($1,000) gold no opt__c*tf
1890
6 M-N
100,000 May 1 1920
Scran Pass Ry 1st M($ 1,000) t
6 g J-D
100.000 Dec
1 1921
People's St Ry gen mtge g__tf 1891
1897
5 g J-J
1,100.000 Nov
1/1932
Scranton Ry mtge $2,500,000
gold ($1.000)
--C*tf New York Trust Co., N. Y. City, Trustee.
1910
5 M-N
1,000.000 Nov 1 1920
Scranton Ry gen mtge $1,000,000 gold (SI .000)
tf Int. at Equitable Trust Co., Phila., Trustee.
Scranton Ry
000.000
g
Scranton &
STOCK AND BONDS—
Common (par
Date.
6
g
150,000
J-J
American
Rys.
Co.,
Jan
Phila.
1
1923
Lack.
D. Co., Scranton. Trustee.
6 g A-O
1893
& Pitts M $525,000 g
($1,000 and $500)-^-C*ntf
295,500
Oct 1 1923
Nos. 1
Int. at Union Trust, Trustee, Phila.
to 400
Trust..
M, Carbondale Traction
1st
at
T. & S.
Guar, by Scranton
1892
$1.000 each & Nos. 401 to 650.$500
6 g J-J
150.000 July 11922
^ov^:*&r,^$L50,000, gold(Interast at Central Trust Co., New York,
Trustee
($500 and $1,000)
Carbondale Ry gen mtge
gold/ 1910
5 J-J
800,000 Jan. 1 1933
i—ctflProvident Life & Trust Co., Phila., Trustee.
_
t
5s of 1897, $1,400,000
at maturity.
The Scranton & Pittston
guaranteed by the Scranton Ry.
Scranton Ry. gen. M. bonds
of 1910 are subj. to call at any int. period at 102 and int.
First mortgage of Carbondale Traction, due 1922, has a sinking fund of
$2,500 per annum after July 1 1895, but bonds cannot be called.
Carbon¬
dale Ry. mtge. for 1910 Is unconditionally guar., p. & 1., by the Scranton
Ry.
Subject to call on any int. date at 105 and int.
V. 93, p. 1785.
The 1st & ref. 5s of 1917 are callable after 1922 at 102J4 and Int.
Guar,,
p. & I., by endorsement, by Amer. Rys. Co.
$4,896,000 are reserved for
underlying bonds and $7,604,000 for impts. under guarded restrictions.
V. 104, p. 1703.
Dividends.—Since 1906 paid dividends varying from $125,000, the mini¬
mum, to $263,000. the latter amount in 1914; $175,000 was paid
In 1915
and $195,000 in 1916.
reserved to retire prior bonds
are
bonds
are
8cranton,
aggregating 90 miles.
Interest.
Operates 206 cars.
EARNINGS.—For year ending Dec. 31 1916, gross, $1,403,480; surplus
after taxes, int.,
&c.. $204,584
Annual int. on $2,500,000 1st & ref
OFFICERS.—Pres., Van Horn Ely; V.-Ps., Henrv J. Crowley and O
Outstanding.
in 1913.
Maturity.
$1,000,000
6%
500.000
5 g M-S
1,169.000 See text
Real Est. T. & I. Tr. Co.. Phila., Tr.
Walter W. Perkins: Gen. Msrr , W E Boileau
1005, 2098; V. 108, p. 1938; V. 109, p. 982, 2263.
Tingley: Sec. & Treas
R
V. 107, p. 502,
5s
(9)
In
Lynchburg Traction & Light Co.—Trolley.
American Railways acquired control.
V. 90, p.
1910
L
—
167. 235.
ORGANIZATION.—Incorporated In Virginia, and is a consolidation on
May 1 1901 of the Lynchburg Electric Railway & Light, the Lynchburg &
RiVermont Street Railway ^franchise perpetual) and the Lynchburg Gas
Co.
and comprises all the street railways, gas works and electric-light
plants of Lynchburg and hydraulic power development at Reusens Va •
slso owns all the stock of the Lynchburg Water Power Co., and has assumed
the $500,000 1st mtge. 5% bonds of that company.
In 1507 authorized stock was increased from $750,000 to $1,000,000, to
retired,
having been
grovlde fofr the convertible featureconverted.
of new bonds, but these bonds have since
none
American
authorized the creation of a new
issue of the same amount made
1914.
V. 98, p. 1609.
$100)
preferred $500.000
—
First mtge $5,000,000 ($100. f 1914
$500 & $1,000) g s f__c*ntf lint, at
Int.
8cran
een
the Ohio P. U. Comm.
mtge. of $5,000,000 to refund an
These bonds were offered in May
1893
Carb'd 1st mtge
$1,000,000 g ($i,ooo).cnf
Free of State tax.
.
purchase the road at any time after
plus any additional sum necessary to
the bonded debt and interest thereon
V.
is a merger of 21 companies.
Operates, practically
competition, in the Lackawanna Valley from Forest City, in Sus¬
quehanna County, to Pittston, in Luzerne County, serving, among others,
the cities of Scranton. Pittston and Carbondale, and the boroughs of Archbold. Blakely, Dickson City, Dunmore, Jermyri, Mayfield, Moosic, Old
Forge. Taylor, Throop, Vandling, Avoca, Duryea, Forest City.
Franchises perpetual.
Wage Award hy War Labor Board.—V. 107, p. 502.
Fare Increase.—In Sept. 1918 filed a new tariff with the Penn. P. S.
Comm. calling for an increase from 6 cents to 8 cents in ail zones.
V. 107,
$125,000.
„
ORGANIZATION.—Incorporated in Ohio Oct. 20 1892; 9,944 shares of
the common stock and 5,000 shares of the pref. stock have been acquired
by the American Railways Co.
New Franchise.—In April 1913 the company accepted a new 25-year fran¬
to
stock.
ROAD.—Owns and operates all the street roads In and around city of
OFFICERS.—Pres., John A. McMahon, Dayton: V.-Ps., H. J. Crowley
O. L. S.
Ingley, Phila.; Sec. & Treas., Walter W. Perkins, Phila.;
Gen. Mgr.. Geo. C. Towle.—V. 86. p. 1530; V. 97. p. 176.
chise which gives the
Railways owns practically all of the
present constituted,
and
Springfield (Ohio)
Railway.—A trolley road,
Scranton
American
ORGANIZATION.—On Jan. 1 1897 assumed all the assets and liabilities
of the Scranton Traction Co., &c.
V. 63. p 1064; V. 64. p. 85.
As at
Interest, taxes.
(6)
connecting Altoona, Bellwood
Operates 124 cars.
J Crowley and C. L. S.
3 in.
Van Horn Ely; V.-Ps.. H
OFFICERS.—Pres.
Bonds.—Of the $2,500,000 Scranton Ry. mortgage
ORGANIZATION.—Incorporated In Ohio June 18 1896.
Comprises 31
miles of track in Dayton, Ohio; operates 99 cars.
The American Railways
Co. owns entire capital stock.
In June 1908 authorized amount of stock
was
increased from $1,100,000 to $2,500,000.
Stock. $2,500,000 ($100)
1916. gross. $730,174: surplus,
interest, &c.. $99,300.
taxes,
$800,000 guar p &
road.
Co.
1916, 6%.
In
4.35%.
1915,
ROAD.—Operates 54 miles of track,
Hollidaysburg and Tyrone,
uauge. 5 ft.
with
Ch. & D. V. EL Ry.).
Line between Joiiet and
formally opened Sept. 25 1901. 82 passenger and 18 other cars.
1896 paid 2H%: In 1896-97, 2M%\
EARNINGS.—For year ending Dec. 31
after
deficit, $108,551.
85.23 miles of track (incl.
No sinking
by American Railways Co.
in 1897-98, 1898-99,
1899-00. none: in 1900-01. 6)4%; in 1901-02, 10%; in 1902-03, 10%; in
1903-04. 5H%. in 1904-05. 5.7%; 1905-06. 6%; in 1906-07, 5%; in 1907-08.
1 % %; in 1908-09 and 1909-10. none; in 1910-11, I 1-3%: in 1911-12, 1.43%.
In 1912-13. 2.5%; in 1913-14, 5%.
For 6 mos. ending Dec. 31 1914, 2.5%.
OFFICERS.—Pres., Van Horn
Tingley; Sec. & Treas.,
V. 73. p. 183.
and
Dirtdends.—In
mortgage.
ROAD.—Extends from the Will County line, where It. joins the Chicago &
Joliet Electric Ry., to the city line of Chicago on Archer Ave, Total, 41.45
miles.
Branch from Summit to Lyons.
The through route Chicago to
Joliet was opened Sept. 25 1901
,
p. & 1., hy endorsement
not subject to call
guaranteed
Trac. &
Railways
Lt. consol.
owns
entire capital stock. $704,000 of Lynchburg
mtge. bonds, and $2,000 1st M. bonds.
Fares.—In June 1918 was auth. by the Va. Corporation Commission to
discontinue the sale of 6 tickets for 25 cts. and 16 school tickets for 50 cts
| and to establish
a
straight 5-cent fare.
Rate Increases.—In June 1918 announced an
increase in its gas rate from
10 cents for prompt pay¬
V. 106, p. 2757.
10 to $1 30 per 1,000 cu. ft. with a refund of
ment.
Electric power rates were also advanced.
$1
ape.,
ELECTRIC
1920.]
RAILWAYS
101
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity. I
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Common stock---.
J-D
$750,000
See text
$4,060,000
Preferred stock.—
FLcstmtge $1,000,000 sink fd] 1901
500.000
5 g M-N
788.000 May 1 1931
($1,000) gold
People's Ry 1st M $3,000,000/ 1915
c*ntf\Real Estate Trust Co., Philadelphia, Trustee
5 g J-D
1,650.000 June 1 1965
Lynchb Trac & Lt con mtge/ 1911
gold ($1,000) guar
5%
720,000
1931
_c*IInt. at Fidelity Trust Co., Phila., Trustee
$1,750,000
ntf IReal Est. Title Ins. & Tr. Co., Phila., Trust. ; Wilm. So. Trac. 1st M gold/ 19i5
5 t? A-O
143.000 Oct
1 1965
Lynchburg Gas Co first mort-J 1900
$300,000 ($1,000) guar....lint, at Wilmington (Del.) Trust Co., trustee
5 M-S
111,000
1930
!
W N C & D C 1st M
gage $250,000-.tf lint, at Real Estate Trust Co., Phila., Trust.
$2,000-/ 1915
5 g J-J
None
Jan
1 1966
000 g ($1,000) guar._c*tf\Int. at Fairm. Sav. Tr. Co., Phila., trustee
Lynchburg Water Power first) 1902
5
452,000 July 1 1932
Chester & Eddystone 1st Ml 1916
mortgage $500,000
ntf (Real Estate Trust Co., Philadelphia, Trustee
5 g M-S
53,000 Sept 1 1946
gold $100,000 ($1,000) gu\Int. at Phila. Trust Co., Phila., trustee,
Bonds.—Of the 1st mtge. bonds, $111,000 are reserved to retire bonds of
Stock, $1,000,000 ($50)-
------
_
-
i
Bonds.—All four issues are guar. p. & I by the Wilm. & Pnlla. Trac. Co.
Remaining People's Ry. and Wilm. So. Trac. bonds reserved for impts. at
! 85% of cost.
People's Ry. bonds are red. on any int. date at 105.
$300,issue can be called at any time.
! 000 Wilm. N. C. & C. D. bonds are reserved for the Wilm. So. Trac.
oonds;
1%; in 1905, 2%; in 1906. 2^%;
! remainder may be issued for exts. and impts. at 85% of cost.
Red. at 102
n 1907. 3%; in 1908.15%; in 1909. 5%; in 1910. 3%; in 1911, 6%; in 1912.
! on any int. day.
%: in 1913. 9.339%; in 1914, 12.12%; in 1915, 8.8%; in 1916. 8%.
EARNINGS.—For year
ending Dec. 31 1916, gross, $543,056; net. j
ROAD, &c.—Comprises street railway lines in Wilmington, New Castle
after interest, taxes, &c., $79,660.
and Delawaie City, Del., and Chester and Media. Pa., and interurban lines
! connecting these
ROAD.—Owns and operates 18 miles of track in city and suburbs
places with each other and with Philadelphia, a tothl of
60 to 100-lb. T and girder rails.
Standard gauge.
Operates 39 pass, cars;
140 miles of track,
Also doas eh»ctrlc light and power business in Wil¬
3 other; 1 sweeper.
Owns Rivermont Park.
mington, New Castle, Delaware City, Newark and vicinity in Delaware,
OFFICERS—Pres., Van Horn Ely; V.-Ps., C. L. S. Tingley and H. J. I the southeastern part of Delaware County, Pa., and Eikton. Chesapeake
i City and
Crowley; Sec. & Treas., Walter W. Perkins.—V. 106, p. 2450, 2757.
vicinity. In Maryland.
like amount of Lynchburg Gas Co. due 1930, and of which no more are to be
issued.
Sinking fund of 1% per annum became operative in 1906, which
increased in 1916 to 1 ^ %.
Entire
Dividends.—In 1904. July, 1%; Nov.,
was
,
(10) Roanoke Traction & Light Co.—A holding company.
J
ORGANIZATION.—Incorporated in Virginia July 28 1908.
Owns the
•
Roanoke Water Power CO., the Bedford Power Co., the James River Water
Power Co. and the Roanoke Heat, Light & Power Co., and controls, through
ownership of all the capital stock, the Roanoke Railway & Electric Co.
The
Roanoke Water Power Co. had $350,000 bonds which were bought in and
mortgage satisfied.
The Roanoke Heat, Light & Power Co. had issued
$250,000 bonds, all of which have been retired (V. 87, p. 1089, 1160).
The Amer. Rys. Co. owns $975,000 of the $1,000,000 stock.
Interest.
Date.
Outstanding.
Maturity
Stock, $2,000,000 ($100)^—
$1,000,000
1908
5 g F-A
First mortgage and collateral
1.771,000 Aug
11958
trust
$3,000,000
($1,000) Int. at Bioren & Co., Phila., or Baltimore
Trust Co., Baltimore, Trust.
gold—
_c*ntf
STOCK AND BONDS—
-~ -----
—
Bonds.—$750,000 bonds are reserved to retire a like amount of bonds of
Co. The remaining $460,000 are reserved for ad¬
the Roanoke Ry. & Elec.
ditions and extensions at not exceeding 85% of cost. Bonds are subject to
call on any int. day at 105 and int. Sinking fund of 1% of outstanding
bonds, payable Feb. 1
1919 to 1928; 1H% thereafter.—V. 109.
p.
174.
ORGANIZATION.—The Roanoke Street Ry. and the Roanok*
were
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity
J-D
$500,000
See text
gf 1899
5 g J-D
58,000 Dec. 1 1949
($1,000) sinking fund.-ntf lint, at Mercantile Tr. & Dep. Co., Bait., Tr.
First consolidated mortgage,/ 1903
5 g F-A
627,000 Feb. 1 1953
$750,000 ($1,000) g s f_c*tfl Int. at Real Estate Trust Co., Phila., Trustee
Bonds.—Sufficient consoi. bonds are reserved to retire 1st mtge. bonds
Sinking Fund was 1% of outstanding bonds annually payable Feb. 1 to
Stock, $500,000 ($100)-.First mortgage. $300,000,
1920. now l}4%.
Dividends.—In 1904, 3H%; in 1905, 5>*%; In 1906, 8%; In 1907. 6%,
none to 1910, when 3% was paid; in 1911, 5 3-5%; in 1912, 6.7%; in 1913.
6.12%; in 1914, 12.02%; in 1915, 7.4%; in 1916,
b%.
EARNINGS.—For year end. Dec. 31 1916 (including both electric and
railway departments), gross, $688,978; net, after taxes, int., &c., $44,012
ROAD.—Operates In Roanoke; also extensions to Salem and Vinton,
Va.; total, 29.85 miles of track.
About 41 passenger cars, 4 other cars.
50, 60 and 72-lb. rail.
Also owns park and theatre.—V. 90, p. 168.
Electric
Ohio Valley
Railway Co.—A trolley road.
Railways.—V. 92, p. 1437; V. 93,p.470.
In 1911 acquired by the American
ORGANIZATION.—Incorporated in West Virginia In 1899.
Franchises
until 1957 in W. Va.; in Ky. and Ohio in Dec. 1916 ran for nearly the
term allowed by statute, 20 and 25 years, respectively.
In Feb¬
ruary 1908~hame was changed from Camden Inter-State Railway to the
Ohio Valley Electric Railway.
Owned entire stocks of Consolidated
Light, Heat & Power Co., Ashland Elec. Lt. & Pow. Co. (now Boyd
County Electric Co.) and Ironton Elec. Co., but at time of acquisition
by Amer. Rys. these were turned over to latter company.
On May 1 1908
acquired the $500,000 stock of Kanawha Valley Traction Co., which has
been leased to the Charleston (W. Va.) Interurban RR. (see page 25) for
99 years at a rental beginning with $10,000 per annum In 1910 and increasing
to $20,000 in 1916 and thereafter until the expiration of the lease.
Also
owns entire stocks of the Ashland & Catlettsburg St. Ry. and Ashland In¬
run
full
terurban
Ry.
108,
STOCK AND BONDS—
Outstanding.
$2,000,000
345,800
Date.
Interest.
Common $2,000,000 ($100)—
Pref 6% cum $400,000 ($100)
p.
2123.
Maturity
See text
J-J
See text
M $2,200,000 gold guar] 1916
5 g J-D
1,675,000 Dec 1 1946
($1,000)
c*tf\Penn. Co. for Ins. on L. & G. A.. Phil..trust.
Bonds.—The outstanding bonds were issued to take up $1,350,000 Cam¬
den Inter-Btate Ry. 5s due Mar. 1 1921; $175,000 Hunt. & Charleston 5s
due 1936; $100,000 Cons. Lt* & Rys. 6s due 1922, and $50,000 Ashland Ji
Catlettsburg 6s due 1919.
Remaining $525,000 are for exts. and better¬
ments under restrictions.
Red. after Dec. 1 1921 at 102M and Int.
Penn.
State tax refunded.
Guar., p. & i., by end, by Am. Rys. Co.
V. 103, p.
1st
divs. (J-J.) of 3% were paid on pref. from
On common, 1910, 3% ; 1911. 2% ; 1912, 6% ; In 1913
Dividends.—Semi-annual
;
in 1914, 2.9% ; in 1915, 4% ; in 1916. 6%
EARNINGS.—For
after taxes, Int., &c.,
year ending
$175,656.
Dec.
31
.
1916,
gross,
$661,938;
net
ROAD.1—Operates 46.3 miles of track in and between Huntington and
Kenova, W. Va,, Catlettsburg and Ashland, Ky., and Ironton. Ohio
Operates 56 pass, cars, 17 other cars.—V. 106, p. 1231; V. 108, p. 2123.
(12) Electric Co. of New Jersey.
ORGANIZATION.—A merger July 5 1916 of a number of electric light
cos. in Gloucester, Salem and Cumberland counties, N. J., along the Dela¬
ware
River opposite
current for electric
Net Earns,
Gross Earns.
--$4,279,237
3,637,506
-
$1,372,553
1.006.803
digs. <% Tax.
$1,252,218
974,836
Bal..Sum.
$120,335
31.967
OFFICERS.—Pres., Van Horn Ely, Phila.; Vice-Pres. & Gen. Mgr.,
T.
W. Wilson, Wilmington; Sec. & TrCas., C. N. Ryan,
Wilmington;
Aed., C. E. Yost, Wilinington.—V. 100, p. 1372, 1466; V. 106, p. 2651.
(1) Wilmington
&
Chester
Traction.
United Power & Trans. Co. owns 39.995 out of 40,000 shares of stock.
Lease.—Part of this company's lines are leased to the Wilmington &
Phila. Trac. Co. and part to the Southern Pennsylvania Trac.
Those In
Delaware, viz., Wilm. City Ry., Gordon Heights Ry., Front & Union St.
Ry. and Wilm. & Edgem. EL Ry. are leased to Wilm. & Phila. Trac. (see
above); those In Penn., viz., Chester Trac. Co. and Its subsidiaries are leased
to Southern Penn. Trac. Co. (see below),
ORGANIZATION.—Incorporated March
1898.
Has
acquired
all
stock of the Wilmington City Ry, ($519,930), the Gordon Heights
Ry. ($51,500), the Front & Union Street Ry. ($299,930) and the Chester
Traction Co. ($500,000). all of which are deposited under the collateral
the
Owns $50,000
Delaware Street Ry.; also owns $150,000 debenture
bonds of Front & Union St. Ry. and $45,000 1st M. bonds of Gordon Heigs
Railway.
The Chester Traction Company holds all the stock of the
Company, $10b,000; Chester & Media stock. $35,000; Ches¬
Darby & Phila. stock, $65,000; total, $200,000.
The Chester Trac. pays
as rental (besides int. on bonds) 6% on the $100,000 stock of the Chester A
Media and on the $100,000 stock of the Chester Darby & Philadelphia.
Fare Increase.—In June 1918 was auth. by the Del. P. U. Comm. to
charge a 7-cent fare in Wilmington, 4 tickets to be sold for 25 cents.
Union Railway
ter
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock $2,000,000 ($50) full pd- Listed on Phila. Ex $2,000,000 Dec'12,60cts
Coll trust gold
$4,000,000/ 1898
6 g A-O
2.305,000 April 1 1923
($500
and
$1,000
Collateral
trust
500,000
Securities
Wilm City
of
1st
each) c*tl Provident Life & Trust Co., Phila,, Trustee
gold
$5,-J 1912
5%
536,625 April 1 1952
tf (Wilmington Trust Co., Wilmington, Trustee.
Subsidiary Lines1911
5 M-S
600,000 Sept 1 1951
M $600,000
c*.ntf Int. at Eq. Guar. & Tr. Co., Wilm., trustee
1st
1894
5 g M-N
250.000 May 1 1944
mtge
gold
$250.000-c*tf Int. at Guar. Tr. & Safe Dep. Co., Phila.
1906
5 g J-D
Wllming & Edgemoor 1st M
400,000 June 1 1946
$400,000 ($1,000) g-c» tf Int. at Real Estate Title Ins. & Tr., PhlIa.,Tr
($1.000)
Chester Traction
Leased to Chester Traction—
Union Ry Go 1st mtge g.c.tf 1913
5g J-J
200,000 Jan 1 1943
10
J-J
150,000 rental
10%
5g J-J
100,000 July 1 1943
1913
Chester Darby & Phila. gold tf 1913
5g J-J
125.000 July 1 1943
The Wilmington & Edgemoor bonds are guar, as to both principal and
interest by the Wilmington City Ry.
Interest on Union Ry., Chester Street Ry., Chester & Mledia payable
at Delaware County Trust Co., Chester, Pa., on Chester Darby & Phila.
Ry. Co., payable at Continental-Equitable Title & Trust Co., and Interest
upon all the latter guaranteed by Chester Traction Co.
Bonds.—$1,695,000 coll. tr. 5s of 1898 reserved to retire underlying securi¬
ties and guar, stock.
They matured originally in April 1918 and bore int.
at 5%, but were extended for 5 years at 6%.
Red. at 101 and int. on any
int. date.
Are listed on the Phila. Stock Exch.
V. 106, p. 1902, 2012.
Of the coll. tr. of 1912, $4,000,000 are reserved for like ami. of coll. tr. of
1898.
Wilm. City bonds are subj. to Call at 105 and int.
V. 93, p. 667.
Chester St Ry stock ($50)
tf
Chester & Media El Ry gold tf
—
The Chester Trac. bonds were extended in 1914 for 30 years.
Wilmington, Del., and Chester, Pa. Supplies electric
light and power in municipalities of Salem, Pennsgrove,
1074; V. 106,
p.
p.
V. 98, p.
1902, 2012, 2451.
(2) Wilmington City Electric Co.
Lease.—Was leased on July 1 1910 for 990 yrs. to the Wilm. & Phila.
Trac. Co., the latter assuming all int. & fixed charges of Wilm. City Elec.Co.
ORGANIZATION.—Incorp. in Delaware in 189$.
Franchise perpetual.
an electric light and power business in Wilmington.
Does
STOCK AND BONDS—
Stock
Date.
Interest.
Outstanding.
$255,000
—
Maturity.
—
$1,000,000 gold? 1911
5 M-N
1,000,000 May 1 1951
($1,000) guar p & i-._c# tf lint, at U. S. Mtge. & Tr. Co., N. Y.t Trustee
Bonds are redeemable on and after May 1 1921. Guar., p. & 1., by Wll. &
First
Phila.
(3)
'
'
1908 to 1917, incl.
3.9%
—
1073, 1158.—V. 98,
Ordinance Restricting Operation of Jitneys.—V.
2342.
1918
■tock of the Chester &
K metric
both sold at foreclosure Aug. 1 1899.
The .iteseru
company was incorporated in Virginia.
Franchises expire in 1935 and somt
perpetual.
Does all lighting and railway business in and about Roanoke
Salem and Vinton. Owns 250 shares of Roanoke Trac. & Light Co. stock
(11)
EARNINGS.—Including Southern Pennsylvania Traction Co.:
Cat. Year—
1919--..
trust mortgages of the Wilmington & Chester Traction Co.
(a) Roanoke Railway & Electric Co.—
Light & Power
■
mtge
Trac.
V.
Southern
92. p.
1441.—V. 94.
Pennsylvania
p.
567.
Traction
Co.
ORGANIZATION.—Incorporated in Penn. in June 1910 with $10,000
Leases for 990 years from
July 1 1910 Chester Trac. Co., Delaware County & Phila. Elec. Ry. and
Media Glen Riddle & Rockd. E. St. Ry. Co. at a minimum annual rental
of $71,990 to a maximum of $106,990 in 15 years.
V. 98, p. 1073, 1158.
stock, all owned by Wilm. & Phila. Trac. Co.
(a)
Delaware County & Philadelphia Electric Ry.
July 1 1910 leased for 990 years to Southern Pennsylvania
at a rental of $40,000 per annum.
,
Lease.—On
Traction Co.
ORGANIZATION.—Incorporated May
11
1892.
Completed from
Media, Pa., to Baltimore Av., Clifton H ts, in Jan. 1895; connects with
cars of the Union Trac. system.
In May the
United Power 8c Transportation Co. acquired the road, paying $166.66 per
■hare for the stock in its 4% trust certificates secured by a deposit of stock.
the Chestnut & Walnut Street
STOCK AND BONDS—
Date.
Interest.
Outstanding.
$300,000
Maturity.
See text
Muliica Hill, Pitman. Glassboro, Williamstown, Paulsboro
Clemen ton, Laurel Springs, Berlin, Elmer, Clayton, Quinton, Swedesboro.
Pedricktown,
Pennsville, Harrisonville,
Mickleton,
Clarkesboro,
Wenonah, Bridgeton, Port Norris and many other smaller places.
The Ameri¬
can Rys. Co. owns the entire outstanding stock and bonds.
Stock $500,000 authorized
First mortgage
Date.
Interest.
Outstanding.
Maturity
$475,000
$157,500
$5,000,000 goldl 1917
5 g M-S
319.000 Mar 1 1947
($1,000)
c*&rtf/Int. at Comm'l Trust Co., Phila., trustee.
Bonds.—$250,000 are reserved to retire bonds of Bridgeton Elec. Co.
remainder for exts.. add'ns, &c..
Red. after 1922 at 102^.—V. 103, p
$27,000; 1901 to 1908 Incl.. $21,000 per ann.; In 1909 and 1910, none; in
1911. $21,000; in 1912. July, $15,000; none since.
ROAD.—Owns 12 miles of track.
Ralls, 80-lb. T and girder.
Woodstown,
STOCK AND BONDS—
Stock
First
-
—
mtge
$64.000--ntf/
1913
5 J-J
64,000 July* 1 1943
(Int. at Cont.-Equit. Title & Tr. Co., Phila.
1st M. bonds matured July 1 1913, but were extended for 30 years at 5%.
DIVIDENDS.—Paid in dividends in 1899-1900. $36,000; in 1900-01.
-
WILMINGTON
On Jan. 1
&
PHILADELPHIA
TRACTION
1916 control was acquired by the American
of which was in turn taken over by the
CO.
Rys. Co., control
See those
National Properties Co.
companies above.
ORGANIZATION.—Incorp. in Dela. June 27 1910.
Owns all stock of
Southern Penn. Trac. Co., Chester & Eddystone St. Ry. and Wilm. Lt. &
Pow. Co.
On June 1 1915 acquired control of People's Ry. of Wilmington,
Del. (stock, $1,500,000), and In Oct. 1915 purchased the Wilmington
Southern Trac. Co. and the Wilm. New Castle & Delaware City Ry., and
consolidated them under the name of the latter.
(Stock. $600,000).
Leases for 990 years from July 1 1910 the Wilm. City Ry., Wilm. & Edgemoor Elec. Ry., Gordon Heights Ry., Front & Union St. Ry. and Wilm.
City Elec. and New Castle County Elec. Co. at a minimum annual rental
of $79,010. to a maximum of $120,610 In 15 years.
Fare Increase.—On June 5 1918 was auth. to increase fares from 5 to
7 cents, effective June 10 1918, but because of considerable opposition
the fare was reduced to 6 cents.
FAIRMOUNT PARK TRANSIT CO.
ORGANIZATION.—Incorp. in Delaware in Sept. 1916 as successor to
Park Transportation Co. in accordance with plan of reor¬
ganization outlined in this publication of Sept. 29 1918.
The assets of the
old co. (for history see "Elec. Ry. Section" for Sept. 1918) were purchased
subject to $750,000 1st M. 5s (see below).
the Fairmount
937; V. 104, p. 1390. 1493.
STOCKS AND BONDS—
Date.
Interest.
Outstanding.
Maturit
$400,000
—
80,000
1
1.
($10)
7%
First mortgage $750,000 gold I
750.000 April 1 1937
1912
5 A-O
($1,000)
c*ntflGirard Trust Co., Philadelphia, Trustee.
Bonds.—1st mtge. bonds are callable at 105 and int. on any int. day on
60 days' notice.
Cum. sinking fund, $13,000 per annum, began Oct.
1918, bonds to draw interest for the fund.
V. 95, p. 480.
Stock
common
($10)
_
Stock preferred
REPORT.—For
1918
12
mos.
Gross.
Year—
1919
.___$176,585
128,980
-
end.
Dec. 31:
Net.
$53,496
27,011
Charges, t%c.
Deficit.
$29,345
41,410
$24,151
14,399
ROAD, &c.—Operates an electric line in Fairmount Park, Philadelphia,
together with the Woodside Real Estate Co. (capital stock $100,000), which
Woodside Park.
The license from the Park Commission expires
owns
103
Is optional.
July 24 1939.
Operation from Nov. 30 to May 1
track operated, 8.83.
Gauge, 5 ft. 234 in.
Ralls,
90[ lb T.
^oWfiCERS.—Pres.,
v. 107, p.
N. S. Alexander; Sec. & Treas.,
Miles of
Cars, 9 closed,
Clayton E. Piatt.
1670.
PH1LADELPHIA & WEST CHESTER
TRACTION CO.
May 16 1916 it was voted to Issue $57,100,000 bonds
subway and elevated lines, In accordance with the pro¬
of former City Director of Transit A. Merritt Taylor, as outlined
.n V. 102, p. 2342.
The Stern bill, rendering valid the election of May 16
1916, was passed by the Penn. House of Representatives in April
1917.
V. 104, p. 1703.
On July 7 1917 the taxpayer's suit to restrain the city
from proceeding with construction of the new high speed lines was dismissed
by Common Pleas Court No. 4.
On July 23 1917 the Pennsylvania P. S.
At the election on
additional
for
gram
*
~
1895.
ORGANIZATION.—Chartered In Pennsylvania on April 24
Mu-
nldpal franchises are
West Chester Turn
County Passenger
ter Passenger Ry. Co.
In Jan. 1902 leased the Ardmore & Llanerch St.
Ry., a line between the points named, 3 1-4 miles; It has no bonds or dther
debt.
Rental is 5% on the outstanding stock ($400,000 auth., $383,350
outstanding) and payment of taxes and organization expenses.
Leases
the Philadelphia & Garrettford St. Ry.' (which it also controls) at 5% on
funded debt and $500 per annum for salaries and organization expenses.
In Jan. 1912 increased authorized stock from $1,000,000 to $1,400,000.
Fares.—In Jan. 1919 the co. announced an increase in fares from 5 cents
to 6 cents on each "fare limit."
V. 108, p. 80.
The $400,000 1st M. ,5s due Oct. 1 1918 were paldfoff at maturity.
Compare V.*107, p. 1193.
STOCK AND BONDS—
Stock $1,400,000 (par $50).—
Outstanding. Last div.,Ac
$1,303,700
Oct'19.3%
Interest.
Date.
A-O
...
1904
4 g J J
534,000 Jan
1 1954
Mtge bonds $1,000,000 gold
($1,000)
cnf Int. at West End Tr. Co., Phila., Trustee.
1905
5 g P-A
2,137,000 Aug 1 1955
Phila & Gar 1st M $3,000,000
gold ($1.000)
ctf Int. at West End Trust Co.. Phila.. Trustee.
Bonds.—Can be called at any time at 105 and Int.; no sink. fd.
The re¬
maining Phila. & Gar. bonds are reserved
int. day.
for
requirements; red.
future
at 105 & int. on any
REPORT.—Year ending Dec. 31;
Dec. 31.
Oross
Net
Year—
Earnings.
Earnings.
Other
Income.
$10,829
11,326
$274,344
234,440
-$818,794
630.392
1919
1918
——
Interest.
Surplus
Rentals. &c.
$212,935
209,428
for Year.
$72,238
36,338
ROAD.—Operates 50-56 miles of track from 63d and Market streets,
Philadelphia, to West Chester, 26.107 m.; Llanerch to Ardmore, 6.3751m.;
69th St., tipper Darby, Pa., to Sharon Hill and Media, I8.077^m.. of
which 24.45 m. are leased.
Gauge, 5 ft. 234 iu-i 58, 60, 70j[andi8CMb.
Trail.
[Vol. 110.
ELECTRIC RAILWAYS
i
43
cars.
*
,
OFFICERS—Pres.,
A.
Merritt Taylor,
Phila.; V.-P., H.
to construct
the
amplified
,
system was given with the understanding that the work in connection with
the Broad St. subway (with certain exceptions) be stopped as promptly
as possible.
V. 106, p. 2451.
The elevated to Frankford is expected to be
ready for operation before the close of 1920.
V. 109, p. 888.
Lease Rejected.—On Jan. 15 1919 the Penna. P. S. Comm. unanimously
rejected the City Transit lease which provided for the joint operation of the
municipal lines and those operated by the co.
The Comm.'s reasons for
rejecting this lease will be found in V. 108, p. 379.
The lease had been
approved by the stockholders and the Mayor.
For provisions of rejected
lease see this Section for Sept, 1918.
Plans for a new lease embodying
suggestions made by the Comm. are now under way.
See V. 109, p. 1892.
Compare V. 105, p. 819, 2366; V. 106, p. 86.
Rower Cmiract.—In March 1912 entered into a 10-year contract with the
V. 94, p. 768.
Phila. Electric Co. for additional power.
Voting Trust.—The voting trust established in
a further period of 5 years to
extended in 1916 for
Feb. 1911 for 5 years was
Feb. 20 1921.
On Feb. 12
having been determined that the voting trust was no
longer necessary, it was resolved to terminate same on that date.
V. 110,
p. 465.
V. 92, p. 660, 726v 882, 1243, 1500; V. 95, p. 1608; V. 102, p.
523, 1347.
however, it
1920.
St. Ry. was chartered In the
with $140,000 stock, to operate 7.66 miles
New Line.—In Sept. 1911 the Snyder Ave.
interest of the Phila. Rap. Tran.,
Line was placed in operation Jan. 1912.
Hoo Island Extension.—On Aug 4 1918, in accordance with a contract
of line
on
Snyder Ave.
with
Emergency Fleet Corp., the co. placed in operation an extension from
Ave.
to
the Hog Island Shipyard.
The Fleet Corporation
Eastwick
advanced the funds to the company
tion and ec
to cover the cost of the new construc[100 new cars].
This property will be taken over by
Fares charged are
appraised value for operation,
the P. R. T. Co. at the
H. Alkens;
94, p. 352;
ermission
steel and labor costs current in the eariy part
tne early part
system.
of 1917,
In June 1918
is estimated at approximately $100,000,000.]
Govt, sanction to proceed wit
.nth the construction of the Frankford elevated
V. 106, p. 1345, 2758.
fixed by the P. S. Comm.
Treas., C. L. Rihl.1 Office, Upper Darby. Del. Co.. Pa.
V.
V. 98, p. 237; V. 106. p. 397; V. 107, p. 1193; V. 108, p. 80.
"
"
"*
Excise Tax.—On Aug. 2
1915 Judge Dickinson in the U.
S. DIst. Court
held that the company's subsidiaries operated under lease were not carrying
on business within the meaning of the excise tax law of 1909 and therefore
not liable to the tax.
On Oct. 22 1917 the Market Street Elevated
Ry., the Union Traction Co, and the Philadelphia Traction Co. ap¬
pealed to the U. S. Dist. Court for restitution of $73,768 and interest col¬
lected from, them in the years 1911 and 1912.
Income Tax Litigation.—On July 15 1918 the various leased line cos. filed
suits against the Phila. Rap. Tran. Co. to recover income and excess profits
taxes paid by them under protest.
V. 107, p. 402.
Compare V. 106,
p. 2451.
On Nov. 20 1918 a ruling was handed down by Common
Pleas Court No. 3 (and in Feb. 1919 affirmed by the Pennsylvania Supreme
Court) under which the Phila. Rapid Transit Co. is held responsible under
the terms of the several leases for the payment to the Govt, of the incomeexcess profits taxes of the following leased line corporations;
Philadelphia
Trac. Co., Germantown Pass. Ry. Co., 13th & 15th Streets Pass.
Ry. Co,
Philadelphia City Pass. Ry. Co., Union Trac. Co., Ridge Ave. Pass. Ry.
Co., Frankford & Southwark Philadelphia City Pass. Ry., Fairmount Park
& Haddington Pass. Ry. Co., Citizens' Pass. Ry. Co. and the Hestonville
Mantua & Fairmount Pass. RR. Co.
On the other hand, however, it
was ruled
that the following companies must assume liability for their
Federal taxes.
Continental Pass. Ry. Co., Philadelphia & Darby RR. Co.
and Green & Coates Streets Phila. Pass. Ry. Co.
V. 107, p. 2009; V.
108, p. 785.
Fares— Wages.—In May 1918 applied to the City Council for authority
to increase fares in Phila. to 6 cents, so that the co.might advance the wages
of carmen 5 cents an hour.
V. 106, p. 2011, 2230.
Effective May 16
1918 the wages of all employees were increased 2 cents per hour, the re¬
maining 3 cents of the promised increase being put into effect in July 1918.
V. 107, p. 292.
Compare V. 106, p. 2346.
On Aug. 4 1918 further
Increases of from 5 to 9 cents per hour were granted so that co.'s wage
scale would eaual maximum fixed by War Labor Board in
other cities.
V. 107. p. 604, 803, 906.
See also V. 109. p. 578, 776; V. 110, p. 1643.
Rate Increase.—In June 1918 filed new tariffs, effective June 20 1918,
with the Penn. P. S. Comm., providing for increased freight, milk and
Joint tariff rates with other companies.
V. 106, p. 2758.
New Rolling Slock, &c.—In Aug. 1918 the co. announced that it had
arranged for add'ns and impts. to cars and other property representing
an aggregate outlay of over $8,000,000, of which $5,000,000 was to be ad¬
vanced by the Govt.
Of the amount to be furnished by the co: $2,000,000
will be taken from the renewal fund.
V. 107, p. 1573.
were
PHILADELPHIA RAPID TRANSIT.—Controlled
Interests•
by
the Stotesbury
'
Incorporated In Pennsylvania on May 1 1902 to take over under lease the
and to acquire and hold
Union Traction Co. for 999 years from July 1 1902,
shares of other
corporations.
(For terms of lease, see Union Traction be¬
The Rapid Transit Co. acquired numerous franchises for new roads
obtained by the Mack-Foerderer syndicate in 1901.
In June 1903 the Mar¬
ket St. Elev. Pass. Ry., with $5,600,000 authorizedl capital stock was
formed to absorb a number of these franchises.
V. 76, p. 1301.
In June
low.)
1903 the Rapid Transit Co. obtained from the
Philadelphia City Councils
other valuable franchises for new lines.
In April 1906, however, an agree¬
ment was entered Into with the city relinquishing nearly all the rights to the
and 1903 and the whole matter of the company's fran¬
See V. 82, p. 693, 870.
Subway has been built in Market St. from 23d St. to Delaware Ave,,
elevated structure on Market St. west of the Schuylkill River, and on Dela¬
ware Ave. from Market St. to South St.
V. 74, p. 528, 989; V. 76, p. 1301;
V. 81, p. 265.
In March 1907 began operating on that portion of the ele¬
vated from the Schuylkill River west to the Upper Darby terminal station,
a distance of about 4 miles.
V. 84, p. 571.
On Aug. 3 1908 the entire
subway from 2d St. to 23rd and Market St. was placed in operation, thus
completing line through to 69th St.
V. 87, p. 347.
On Oct. 6 1908 ele¬
vated line on Delaware Ave. to South St. Station was placed in operation,
completing entire line.
V. 87, p. 936.
In July 1902 acquired all the stock of the Doylestown & Willow Grove
Ry. Co.
Also owns entire stock ($10,000) of the Real Estate Holding Co.,
which owns property of an assessed value of $1,675,320.
On July 1 1906 the Phila. Morton & Swarthmore Ry. and the Media Middletown Aston <fc Chester Elec. Ry. were consolidated, forming the Darby
Media & Chester Ry.
The new company, embracing 25 miles of track, was
thereupon leased to the Phila. Rapid Transit Co. for 999 years, rental being
$8,500 for first year, $17,000 for second and third years, $25,500 for fourth
year. $34,000 for fifth year and $42,500 for sixth year and thereafter.
Wage Schedules.—In 1911 a plan was adopted looking to a lasting peace
between the company and men, 22% of gross passenger earnings to be set
apart for wages and wage scale to be increased as rapidly as possible within
that limit.
See plan in V. 93, p. 590; also V. 97, p. 238.
See under "Fares
—Wages"
below.
Adjustment of Relations With City.—On Feb. 18 1907 the board of direc-
franchises of 1901
chise rights was readjusted on a new basis.
Pass.
Government Loan.—In
Sept. 1918 the Penn. P. S. Comm. approved a
which the Government loaned the co. $1,748,000 to extend
for workers in industrial war plants.
V. 107, p. 1101.
In April 1920 the'co. announced that the financing of new lines and exts.
is planned to be accomplished by the formation of new companies Issuing
company.
The plan confers upon the city the right to purchase at any
1st mtge. bonds to cover the cost of construction, to be guar, by P. R. T.t
time after June 30 1957 all leases, franchises and property of the company
which will also be the sole owner of such nominal issue of capital stock as
at the company's actually paid-in capital,
$30,000,000.
The city has
the right to assign or sell this option.
may be required.
V. 110, p. 1527.
Furthermore, a sinking fund is to be
New Equip. Trust.—In April 1920 it was proposed to issue $6,000,000
established, to be taken out of the gross receipts of the company, which,
calculated at 4%, will amount to at least $30,000,000 at the expiration of
6% equip, trust certificates "Series F" maturing in equal semi-annual
60 years, to enable the city to acquire the property at that time.
Another i installments during a period of not more than 10 years, to be secured by the
lease of 1,500 surface and 97 elevated subway pars.
feature in the arrangement is that, beginning with Jan. 1 1907, the city
V. 110, p. 1527.
shares equally in the net profits after stockholders have received lawful
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Interest on the capital Invested
by them.
All franchises for further surface,
Stock $30,000,000 ($50)....
J-J
(600,000 sh\
Jan 1920.
elevated or underground railroads within the city are to be first offered the
1 Full paid/
$1.25
Phila. Rapid Transit Co. under terms of this contract.
The city Is also to
Ooll trust mtge $5,000,0001
1908
5 g F-A
$4,649,000 Feb I 1957
have three members on the board of directors.
The present rate of fare is
($1,000) gold
c*cpt( Int. at Penn. Co. for Ins. on Lives & Granting
not to be changed
except with the consent of both parties.
As part of the
I
Annuities, Philadelphia, Trustee.
arrangement, the Rapid Transit Co. agreed to call the $12,000,000 then still
Sink, fund mtge. $10,000,0001
1912
5 g M-S
7,736.000 IVJar 1 1962
due on Its stock at the rate of $3,0OO,0OO every six months, the money to be
g ($1,000) guar p & Lc*cptf Int. at Comm'l Trust Co., Phila., Trustee.
used to give increased and improved service.
For further details of plan,
Market St El 1st mtge $10,-1 1905
4 g M-N
10,000.000 May 1 1955
see V. 84.
p. 451,1552.
An ordinance embodying the above features was
000,000 gu g ($1,000) c*cpt/Int. at Land Title & Trust Co., Phila., Trus.
passed by the Phila. City Council on June 20 1907 (V. 84, p. 1488) and rati¬
Darby Media & Ches 1st Ml 1906
4H 8 J-J
991.000 July I 1936
fied by the company July 18 1907.
On Feb. 27 1911 State Supreme Court
$1,500,000 ($1,000) g c cpt/lnt. at Land Title & Trust Co., Phila., Trus.
affirmed the decision (V. 89, p. 847) of the Common Pleas Court sustaining
Car trust certfs, $1,500,000.1
1910
J-J
75.000 July 1 1920
the company's demurrer In a suit brought to test the validity of the fore¬
Series "A"
cDtjCommer. Trust Co.. Phila. Trustee.
going ordinance.
V. 92, p. 596.
On July 29 1907 directors called for
Car trust certifs., $4,200.0001
1913
5 M-S
1,750,000 Mar 1 1525
ment of the final assessment of $15
stock, payable
contract under
"
transit
tm
a share on
ments—$7 50 Sept. 9 1907 and $7 50 Sept. 7 1908.
For new lease ordinance see below.
in two install¬
V. 85, p. 284, 1402.
1908 stockholders of Union Trac. Co. and the Phila. Trac. Co.
approved the use of securities owned by them as security for a new loan,
and the $5,000,000 coll. trust mtge. shown below was thereupon author¬
ized.
V. 86, p. 1530; V. 87, p. 740, 813, 1161.
On June 20
1910 the stockholders voted to discontinue the Insur¬
ance fund valued at over $1,750,000, and to pledge or sell the securities In
said fund,
applying the proceeds to general purposes of the company; also
to sell the
rolling stock of the
the Union Trac. Co. for $1,500,000, taking lease of same for 10 years at rental of $150,000 a year and Int.,
with right to re-purchase equipment at the end of 10 years for $1.
This
lease was made oasis of a $1,500,000 issue of car trusts by Union Trac. Co.
V. 90, p. 1426. 1555, 1677; V. 91,
p. 337.
On Feb. 28 1911 shareholders of ooth the Phila. Rap. Trans. Co. and the
Union Trac. Co. approved a plan (V. 92, p. 463) in accordance with the views
of Mr. E. T. Stotesbury, who consented on such conditions to enter the
Phila. Rap. Trans, board, calling for the issue of $10,000,000 s. f. bonds
running for life of city contract, guar. p. & i. by the Union Trac. Co. and
secured by pledge of equity in Market St. Elev. Pass. Ry. (V. 91, p. 1629)
over and above present $10,000,000
mtge. on said property.
V. 92, p. 596.
On Feb. 29 1912 directors of both the Phila. Rap. Trans, and Union Trac.
Co. authorized the mtge.
V. 94, p. 631.
As part of the plan, every
equity owned by Phila, Rapid Trans. Co. is surrendered to Union Trac.
Co.
See V. 91. p. 1161, 1386, 1574, 1630, 1711.
The City Council
assented to the arrangement in May 1911.
V. 92, p. 1375. 1500.
Subway and Elevated Lines to Be Built by the City and Operated by the
an election held
April 29 1915 the electors voted in favor
or a $6,000,000 loan
for a Broad Street subway and a Frankford elevated
line
(V.
company to
100, p. 1511), and on July 1 1915 the ordinances
for both projects were signed by Mayor
appropriations
Construction
was
begun September 11 1915.
V. 101,
Series
Car
"B"
trust
p.
making equal
Blankenburg.
132, 774, 1371.
opt/Fidelity Trust Co., Phila.. Trustee.
certfs, $1,944,000,1
Series "C"
Report by City's Accountants.—See V. 109, p. 271.
In Oct.
facilities
1913
5
g
891.000 May
M-N
1 2923
cptj Fidelity Trust Co., Philadelphia. Trustee.
Car trust certifs Series "D"
1919
88,000\ Serially to
Car trust certifs Series "E"___ 1919
288,000/
1929
—..
Funded debt of underlying companies Dec. 31 1919, $57,073,425.
Stock was listed on the Phila. Stock Exchange in July 1902 and in Feb.
on N. Y. Stock Exchange.
See also V. 110, p. 872.
1905
Bonds.—Collateral trust bonds are secured by deposit with trustee of
securities owned by Phila. Rapid Transit and also securities of Union Trac.
Co. and Phila. Trac. Co.; entire Issue subject to call at 105 on 6 weeks' pub¬
lished notice on and after Feb. 1 1912.
A sinking fund, which will re¬
tire all bonds by Feb. 1 1957, began to operate Feb. 1 1912. The Market
Elevated Ry. bonds cover the subway and the elevated road on
Market St.
See V. 80, p. 652.
They are guaranteed, principal and
Street
Interest, by endorsement by the Phila. Rapid Transit Co.
Are subject
to call on any int. date at 102 H and Int.
V. 84. p. 749; V. 86, p. 547.
Darby Media & Chester Street Ry. bonds are guar., p. & 1., by endorsem't by Phila. Rap. Tr. Co.
Can be called at 102& Int.
Both the collateral trust bonds and Market Street Elevated bonds were
The
listed
as
on the Philadelphia Stock Exchange in April 1909.
V. 88, p. 945.
The sinking fund mortgage bonds of 1912 are callable on any March 1
a whole or for sinking fund at
105 and interest.
Cumulative sinking
fund
of
$35,000
per
began Jan. 15 1917.
Of the $10,000,000
outstanding, $2,145,000Iare in company's treas¬
annum
authorized $8,514,000 are
and $76,000 have been retired.
Bonds are guar., p. & I., by Union
Trac. Co.
Y. 94, p. 827, 699.
There are also $750,000 certifs. of participa¬
tion in the co.'s treasury, representing $909,000 P. R. T. bonds of 1912.
Car Trusts.—The series "A" car trusts mature $75,000 semi-annually
(J.-J.).
The Ser. "B" mature $175,000 s.-a. beg. Sept. 1 1913 and ending
Mar. 1 1925.
Red. at 102H and int.
Series "C" mature $81,000 s.-a.
b"0™ Nov. 1 1913 to May 1 1925.
Red. at 102H and Int. and are secured
ury
by 500 new cars.
■
'
•
/
Dividends.—An Initial dlv. of 51 per share was paid in Oct.
1917, $2 50 per share.
In 1918, $2 50 per
In 1920, Jan., $1.25 per share.
1916.
In
In 1919, $2 50 per share.
share.
ROAD.—Total trackage Dec. 31 1918, including all lines leased and
operated, 669.384 miles.
Owns about 3.250 cars of all kinds.
ANNUAL REPORT.—Fiscal year changed in 1918 to end Dec. 31.
for year ending Dec. 31 1919 was given in V. 110,
1919.
1919.
1918.
$
S
1,788,396
Pass, earnings.34,739,589 30,568,788 Taxes
Other receipts. 1,299,930
1,135,640
Total exp__24,393,829
Total.™
36,039,519 31,704,428 Net earnings.. 11,645,690
Interest
2,445,898
Expenses—
a7,483,915
4,755,664 Rentals
Mtce. & renew 5,766,322
2,719,097 Divs. (5%)... 1,499,290
Op.of pow.pl't 2,740,262
8,951,880
Oper. of cars. .11,387,653
General
2,071,744 i Surplus
216,586
2,711,196
a Includes $120,000 sinking fund
(city contract).
Annual report
_
p.
..
2357;'V. 110, p. 465, 872^1188,
11,334,856
2,314,649
o7,485,391
1,499,290
35,526
July 1902 was
'ransit
SurchaseCo. guarantees capital stock ($500,000) See V. 79, p. 1331. Rapid
of the entire Interest on the bonds. for $20,000. The
Interest.
$500,000
($1,000)1 1900
4 g J-D
500.000 June 1 1930
gold guaranteed.._c*.cpt [Land Title & Trust Co., Phlla., Trustee.
•
ROAD.—Trackage, 13.608 miles, from Doylestown to Willow Grove,
running over the old turnpike between those places, which is leased for 999
years.
EARNINGS.—Included in Phila. Rapid Transit Co.—V. 79, p. 1331.
Twenty-Second Street & Allegheny Avenue Passenger Ry.
(2)
ORGANIZATION.—Formed in 1903 and merged the old Twenty-second
Fairmount &
Co., Chelten
Germantown & Fairmount Ry. Co. and the Phila. &
Trenton Rapid Transit St. Ry. Co.
Is leased to the Phila. Rapid Transit
Co. for 6% per annum on paid-in capital.
STOCK.—Auth. amount, $1,302,000 ($50); 22,456 shares outstanding.
Ave. Pass. Ry. Co.,
Due lessee. June 30 1918, $561,406.
$25 paid in.
ROAD.—Trackage 65.275 miles.
Darby
(3)
&
Yeadon Street Railway.
ORGANIZATION.—Entire stock ($5,000) Is owned by the Philadelphia
Rapid Transit Co.
Interest.
Date.
Stock all owned by Philadelphia Rapid Transit
First mortgage $200,000 gold! 1904
4H f? J-D
Maturity
Outstanding.
Co.
$200,000 Dec 1
1934
($1,000)
c*_cpt(Int. at Land Title & Tr. Co., Phila., Trustee.
guaranteed, prin. & int., by endorsement by the Phila. Rap
Transit Co.
Are subject to call on any interest date at 105 and interest.
ROAD.—From the Philadelphia County line to Darby, 2.498 miles.
guar
(4) Chester & Philadelphia Railway (Chester Short
operated by Phila. R. T. under 30-year agreement dated
Is
Line).
Feb 14 1911.
ORGANIZATION.—Incorp. In Penn. on June 29 1910 as successor to
the Phlla. & Chester Ry., sold at foreclosure (V. 92, p. 1243).
In considera¬
tion of an agreement to operate the line the Phila. Rapid Transit received
61% of Chester & Phila. stock.
The Chester & Phila. receives 35% and
Rapid Transit 65% of gross earnings, for which the Rapid Transit assumes
all costs of operation.
The 35% to be applied to Int. on bonds and divs,
on stock.
Franchises are unlimited as to time.
STOCK AND BONDS—
Date.
($50)
Interest.
-
Maturity.
Outstanding.
$485,000
1st M $600,000 gold ($100,-1 1910
5 g J-J
600,000 July 1 1940
$500 and $1.000)
c*_tf j Int. at Real Est. Tit. Ins.&Tr.Co.,Phila..Tr.
Bonds.—Red. on any int. date at 105 and int. on four weeks' notice.
Free from Penn. State tax.
Sinking fund of one-half the surplus earnings
the stock shall either purchase and retire bonds or be used for
new construction.
V. 104, p. 763.
Listed on Philadelphia Stock Exch.
EARNINGS.—For years ending Dec. 31:
Calendar
Gross
Rental
Other
Total
Interest, Balance,
Year—
Earnings.
(35%).
Reds.
Receipts. Taxes,&c. Surplus.
1919
$374,759
$131,166
$3,087
$134,253
$47,641
$86,611
1918
449,554
157,438
3,782
161,219
91,496
69,723
ROAD.-—15.2 miles of track, including main line from Chester to Phila..
and branches from Essington to Moore Station and Essington to Phila.—
V. 92, p. 1310; V. 104, p. 763.
4%
on
UNION TRACTION.—A trolley road.
Lease.—The Union Traction Co. has been leased
for 999 years from July 1
1902 to the Philadelphia Rapid Transit CoV' Lease rental (payable Id
gold) is $900,000 per annum (equal to 3% on the face value of the $30,000.
000 stock) for the first two years, $1,200,000 per annum (equal to 4% on
stock) for the next two years, $1,500,000 per annum (equal to 5% on stock)
for the next two years and $1,800,000 per annum (equal to 6% on stock)
thereafter.
The stockholders of the Union Traction Co. were given the
right to purchase 150,000 shares of the new Rapid Transit Co. stock.
V,
74, p. 989.
Included at the time all the leading street passenger railway
lines within the city of
Philadelphia.
ORGANIZATION.—Chartered Sept. 13 1895, and acquired on or about
Electric Traction and People's Traction com¬
Oct. 1 1895 all the shares of the
panies, in place of which were issued collateral trust certificates secured by
the shares placed in trust.
In 1896 leased these properties for 998 years and
3 months from July 1 1896.
On Oct. 1 1895 leased for 999 years the Phila¬
delphia Traction at 8% on its capital stock.
V. 61, p. 663. Leases (from
Jan. 1 1898) Hestonville Mantua & Fairmount Passenger Ry. for 999 years
at 6% on pref. and 4% on com. stock.
See V. 66, p. 236.
The Lehigh Ave.
Ry. Co. ($1,000,000 stock) was also leased for 999 years from July 1 1899.
See terms of consolidation, &c., in statements for the constituent companies
and V. 61, p. 152, 197, 283, 663.
For change in terms of lease see V. 89,
p. 594.
The Philadelphia Rapid Transit now operates the road.
Also owns entire stock of the Philadelphia & Willow Grove Ry. Co.
Union Traction shareholders in Oct. 1908 gave their assent to the use'of
certain securities owned by the Union Trac. Co. to be pledged as collateral
for the $5,000,000 loan of the Phila. Rapid Transit Co.
V. 87, p. 1110.
The shareholders voted June 20 1910 (formally ratified Sept. 21
1916;
V. 91, p. 337) to purchase the equipment of the Phila. Rapid Transit, and
lease same to that company on terms as stated under Phila. Rapid Transit,
and make the equipment the baisis of an issue of $1,500,000 car trusts.
On
Feb. 26 1913 they voted to purchase additional equipment and lease it to
the Philadelphia Rapid Transit Co. and to issue $4,200,000 car trust certifs.
iSeries B) as a result of the transaction. In May 1913 a further issue of
1,944,000 car trusts (Series C) was put out.
See under Phila. Rapid
Transit and V. 96, p. 555, and V. 97, p. 803.
On Feb. 28 1911 shareholders voted to guarantee new
Phila. Rapid Transit
$10,000,000 mtge.
See under that company and V. 91, p. 1575; V. 92.
p. 324, 463, 596.
Income Tax Dertsion.—See under Phila. Rapid Transit Co. above.
The stockholders are to vote April 26 1920 on the consolidation, extension
and enlargement of the Phila. R, T. Co. equipment trust leases, Ser. "A,"
"B" & "C," as well as to the sale and delivery by the P. R. T. Co. of certain
additional rolling stock not now under lease, and the taking of a lease of all
the said rolling stock (whether or not under lease previously) by the P. R. T.
Co. as the basis of an issue of not more than $6,000,000 equip, trust certifs.,
and the releasing of any lien on or interest in all the aforesaid rolling stock
which the Union Trac. Co. of Phila. may have.
V. 110, p. 1527.
STOCK AND BONDS—
Stock $30,000,000 (par
Trust
Co
guar.,
Trust
certificates,
p.
&
I
CONTROLLED
Catharine
BY
UNION TRACTION
CO.
Bainbridge Streets Ry.—A trolley road.
&
ORGANIZATION.—Incorporated May 14 1889, and leased to the Phila¬
delphia Traction Co. Mar. 1 1890 for 99 years, and included in lease of that
company to the Union Traction Co. Oct.
was increased from 99 to 999 years and
The
at
1 1895; in Sept. 1895 term of lease
stock from $150,000 to $400,000
besides interest
$150,000 1st M. 5s due April 1
1920 were extended for 10 years
6%.
STOCK AND BONDS—
Stock (par $50)
Date.
-
1st M $150,000 ($1,000) c.cpt
Due lessee July 1 1918
Bonds
are
not subject to
Outstanding.
Interest.
Maturity.
$400,000
See text
150,000 April 1 1930
234,698
Interest at Land T. & T. Co.. trustee.
6% M-S
6% A-O
1890
-
call.
Penn. Co. for Insurances on Lives, &c.
Dividends.—Dividends of 6% are paid.
ROAD.—The road aggregates 5-465 miles of track.
(2) Citizens'Passenger Railway.
ORGANIZATION.—Incorporated Mar. 25 1858.
Leased to Frankford
Southwark Passenger Railway Co. April 1 1892 for 999 years; rental
now $140,000 per annum, equal to 28%
on stock, or $14 per $50 share.
This lease was assumed by the Electric Traction Co. July 1 1893.
Operated
by Phila. Rapid Transit Co.
Income Tax Decision.—See under Phila. Rapid Transit Co. above and
V. 108. p. 784.
Stock authorized, $500,000; par ($50); paid in, $192,500—$20 on 8,500
shares and $15 on 1,500 shares.
1L.447 miles of track.—V. 108, p. 784.
\
&
(3)
Continental
Passenger Railway.—A
trolley road.
(
ORGANIZATION.—Incorporated Sept. 3 1873.
Leased Janl. 1 1880
Union Passenger Railway Co. for 99 years at rental of $6 per share
per annum, interest, taxes and operating expenses; lease assigned to Phila¬
delphia Traction Co. June 30 1884.
Operated by Phila. Rapid Transit Co.
Stocks owned, per balance sheet July 1 19181. $600,000.
Income Tax Decision.—See under Philadelphia Rapid Transit Co. above
and V. 108, p. 784.
,
Maturity.
Outstanding
STOCK AND BONDS—
Date.
Interest.
to
$6 J-J
J20,000 shs.,1
\$29 paid in./
See text.
$280,000 July 1 1959
and) 1879
4 "A J-J
c&r/ Land Title
Trcr'„ Co., Phila., trustee.
Due lessee for additions July 1 1918, $672,260.
Bonds were originally 6%, but in 1909 were extended for 50 years at 4%.
Int. payable at office of company.
Not subject to call.
Bonds were listed
in 1909 on Phila. Stock Exch.
V. 88. o. 822.
Trackage, 11.41 miles
V. 106, p. 924; V. 108, p. 784, 2528; V. 109, p. 2262.
First
Bonds.—Are
over
LINES
(1)
Stock (par $50)
STOCK AND BONDS—
Stock $485,000
OFFICERS.—Pres.. Jeremiah J. Sullivan;
1st V.-P., Chas.
Sec. & Treas., W. J. Shields.—V. 108, p. 2529; Y. 110, p. 1527.
Maturity.
Outstanding.
Btock $500,000 ($50)
First mtge $500,000
St. & Allegheny Ave. Passenger Ry. Co. (chartered 1890), the
Frankfort Ry. Co., Fisher's Lane Ry. Co., Lindley Ave. Ry.
to call at 105 and accrued int.;
and taxes.
Sec., F. B. Ellis; Treas.»
1273, 1462, 1892 , 2172.
1409, 1527, 1643.
Date.
Subject
$250,000 has been retired by sinking fund.
E. Heed'
stock of the Hestonville Mantua & Fairmount Pass. RR.
common
(all owned by Phila. Trac. Co.); rental is $24,000 yearly,
Ry. Co.—A trolley road.
acquired by the Philadelphia Rapid Transit through
STOCK AND BONDS—
See description of certificates in V. 64, p. 135.
Traction Co. thus acquired.
They are guar., prin. and Int., by the Union Traction Co., and are redeem¬
able at the option of that company on and after Oct. 1 1945.
Collateral Trust Bonds.—The collateral trust bonds were Issued to fund
the floating debt and are secured by the deposit of the 35,000 shares of the
20,369,571
(1) Doylestown & Willow Qrove
In
tion companies purchased and are secured by a deposit with the TruBt Co.
of all the shares of the stock of the Electric Traction Co. and the People's
T. E. Mit¬
OFFICERS.—Chairman of Board, E. T. Stotesbury; Pres
ten; V.-Ps., W. C. Dunbar and G. A. Richardson;
G. W. Davis; Aud., E. L. Austin.—V. 109, p.
1409.
1918.
1,871,186
_
_
103
ELECTRIC RAILWAYS
Apr., 1920.]
by
Co
$50)-/
Date.
----
gold,/ 1895
Interest.
Outstanding.
Maturity.
J-J
/600,000 shs.l Jan '20, 3%
($17.50 pd.in/
4 gA-O
$29,730,114 Red.
after
Union
.cpt Int. at Pa. Co. for Ins.
Annuities, Trustee.
_
Oct
on
1
1945
Lives & Granting
mortgage/ 1902
4 g J-J
1.250,000 July 1T952
cptfLand Title & Trust Co.. Philadelphia. Trus.
Certificates.—The trust certificates are not the direct obligations
of the Union Traction Co., but were issued by the Pa. Co. for Ins. on Lives
& Granting Annuities, to pay for the shares of the Electric and People's Trac¬
Collateral trust first
$1,500,000 gold
Trust
($500
mortgage
$1,000) gold
(4)
„
„
Electric
,
Traction.
ORGANIZATION.—Incorporated May 8 1893 and acquired control of
Citizens' Passenger Ry., the Frankford & Southwark Passenger Ry.
and the Second & Third Streets Passenger Ry.
On July 1 1896 leased for
999 years the Citizens' Clearfield & Cambria St. Ry., the Citizens' East End
St. RY.. tthe Brown & Parrish St.. Ry. and the Citizens' North End St. Ry.
In 1895 the Union Traction Co. acquired all the stock at the rate of
$85 per share for each share, on which $50 had been paid, and $70 per
share for each share on which $30 had been paid, the Pennsylvania Co. for
Insurances on Lives & Granting Annuities issuing therefor its guaranteed
trust certificates.
On July 1 1896 the Union Traction Co. leased the
property for 998 years and 3 months.
See V. 61, p. 197, and also "Union
the
Traction."
Stock authorized,
$50 paid and 22.604
ROAD.—Mileage,
shares of
shares of $30 paid, making total $8,297,920.
129.947 miles.
Rail. 90 lbs.—V. 63. p. 557.
175,000 shares of $50 each; issued, 152,396
(5) Empire Passenger Railway.—A trolley road.
ORGANIZATION.—Incorporated Feb. 10 1869.
Leased Dec. 26 1873
Citizens' Passenger Railway Company and the Seventeenth & Nine¬
teenth Street Passenger Railway Company for 999 years.
Transferred
Oct. 1 1895, along with all right to dividends on 6,100 shares of its stock
(then held by the Union Passenger Railway Co. as trustee and lessee), by
lease of Philadelphia Traction to the Union Traction Co.
Dividends are
$1 50 per $50 share each June 30 and i Dec. 30—that is 6% per ann.
to
Maturity.
$600,000
200,000 Marl 1930
Bonds.—The new 3^s were issued to retire a like amount of 7s, due
July 1900.
Land Title & Trust Co., Phila., Trustee.
Due lessee company for additions July 1 1918, $705,715.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
8tock (par $50)
(All owned by Phila. Trac.)
1st M gold $200,000._.c-cpt. 1900
314 8 J-J
ROAD.—Mileage,
12.41 miles.—V. 70. p.
1150.
(6) Frankford & Southwark Philadelphia City Passenger Railway*
ORGANIZATION.—Incorporated April 4 1854.
Acquired stock o*
Lombard & South Streets Passenger Railway in 1890.
Leased to the
Electric Traction Co. for 999 years from July 1 1893; dividends for the
several years named below being guaranteed per share:
Income Tax Decision.—See under Philadelphia Rapid Transit Co. above
and V. 108, p. 784.
i.
lsf
2d
3d
4th
5th
5th
7th
8th
9th
10th and after
$12
$12.50
$13
$13.50
$14
$14.50
$15
$16
$17
$18
,
STOCK AND BONDS— Miles. Date. Interest.
Stock (par $50)
Debt of Controlled
----
Q-J
Outstanding Last div.,&c.
$1,875,000
See text
Lines (assumed by Electric Traction Co.)
10
1881
3HJ-D $150,000 Dec
1 1951
Lombard & South Streets
Pass first mtge $500 & Interest at Real Estate Title Insurance & Trust
Co., Trustee.
c.cpt i
9
1875
4 A-0
132,100
Oct 1 1935
Ry mtge
($100 and Phila. Trust, Safe Doposit & Ins. Co., Trustee.
$500)
c.cpt Interest at Land Title & Trust Co.
The Lombard & South Sts. pass, issue of $150,000 was originally 5%
but was called at maturity and tnen extended for 50 years from Dec. 1 1901
$1,000)
West
ext
at
End
Pass
$150,000
3H%.
The West End Pass. Ry. mtge. matured Oct.
for 30 years at 4%.
V. 81. p. 156.
ROAD.—Trackage, 71.586 miles.—V. 108. p. 784.
1 1905 but was
extended
(7)
Germantown Passenger Railway.—A
trolley road.
Leased Oct. 1 1881
ORGANIZATION.—Incorporated April 21 1858.
cb the People's Passenger Ry. Co. for 999 years, but rental modified in
1893; stock since 1897 receives dividends yearly of $5 25 per share.
Income Tax Decision.—See under Phila. Rapid Transit Co. above.
Stock authorized, $1,500,000 ($50);
paid in, $572,860.
ROAD.—Trackage, 43.905 miles.
Extension of 2,000 feet from Hillcres
Avenue to city line, completed in Sept. 1898, forms with the Roxborough
Chestnut Hill & Norristown Passenger Ry., a through line to Norristown.
—V. 69. p. 695.
(8) Green & Coates Streets Philadelphia Passenger Railway.
ORGANIZATION.—Incorporated April 21 1858.
Leased to People's
.
Passenger Ry. for 999 years from Sept. 1 1881 at an annual rental of $60,000,
Interest on bonds (since fallen due) and expense of management.
Income Tax Decision.—See under Phila. Rapid Transit Co. above and
V
Stock.*10.000
shares (par value. $50).
$15 paid In.
Dividends are 12%
(Q-J); on par or 40% on amount paid in (but see
Trackage, 5.429 miles.—V. 107, p. 1384; V. 108, p. 784.
per an.
V. 107, p. 1384).
Hestonville Mantua & Fairmount Passenger Railway.
ORGANIZATION.—Incorp. April 6 1859.
Franchise Is perpetual.
LEASE.—Hestonville M. & F. road leased from Jan. 1 1898 to Union
Traction for 999 years at a rental of 6% on the preferred and 4% on the
common stock.
By the terms of the lease the Fairmount Park & Hadding¬
ton lease Is assigned to theiUnion Traction, which assumes the dividends
guaranteed on that stock (all owned by Hestonville Co.).
The Union Trac¬
tion assumes the bonded debt of both the Hestonville and Haddington com¬
panies and purchased 4,780 shares of the preferred at par and 35.294 of the
common Hestonville stock at $45 per $50 share.
V. 66, p. 236.
(9)
ELECTRIC
104
Income
V.
108,
Tax Decision.—See under Phila.
p.
Philadelphia
(17)
Rapid Transit Co. above and
784.
Willow
&
ORGANIZATION.—Is
4 J-J
STOCK AND BONDS—
Common stock par $50
1894
Maturity.
$1,966,100 f.p. See text
6 J-J
Date.
Preferred stock par $50-Consolidated
M
$1,250,0001
533,900 f.p. See text.
Outstanding.
Interest
5-3H(?M-N *1.250.000 May 1 1924
Equipment
guarantees the bonds,
V. 79, p. 904.
prin. and
endorsement.
int., by
See guaranty.
Outstanding.
$1,000.000
Maturity.
$1,000,000
Interest.
Date.
--------
$1,000,000 guar/ 1904
4H (? j-j
1.000.000 July 1 1934
gold ($1,000)
c*_cptlInt.atLandTitle&Tru.Co.,Phila.,Trustee.
First
mtge
—
Account,'" June 30 1916
Due leased lines June 30 1918.
See text
Co.
Street
Stock
.
300,000
6gP-A
Railway
Street
drove
consolidation in 1904 of the Phila. & Willow
a
Ry. and/the Glenside & Willow Grove Street Ry.
Entire
stock is owned by the Union Traction Co.
The Phila. Rap. Tran. Co.
Grove
STOCK AND BONDS—
uaranteed rental 999-year lease—
g$500 & $l,000.c*x_cptjTrustee, Glrard Trust Co.
Fairmount Pk & Haddington \
Pass Ry stk par $50
-_f
"Leased
[Vol. 110
RAILWAYS.
241,968
are subject to call on any interest date at 105 and
interest
30 days' notice.
A sinking fund began after 5 years: of $10,000 per
for 5 years, $15,000 per annum for following 5 years and $20,0C0
annum for the ensuing 15 years.
See V. 79. p. 904.
Bonds.—Bonds
100,000
-
Interest Is payable in Philadelphia,
z Free of tax.
*
Of the $1,250,000 outstanding, $124,500 were Issued
upon
Jan. 1901 as 34»
annum
to take up
per
time and $75,000 on Mari 1
ROAD.—Trackage from intersection of Weaver St. or Cherry Lane with
Montgomery County line to Willow Grove Park, 14.811 miles.—V. 79.
p. 904; V. 81. p. 32.
bonds of like amount of the Fairmount Pass. Ry. due at that
1902, to take up a like amount of 2d mortgage
6s maturing on that date.
Common stock authorized, 39,322 shares;
preferred, 10,678 shares; par
value of each. $50: stock outstanding as in table.
ROAD.—Trackage, 19.711 miles.—V. 71, p. 1167; V. 108, p. 784.
Lombard & South Street Passenger Railway.-—See Frankford A
Southwark Passenger Railway.
(10)
(11) People's Passenger Railway.—An electric road.
ORGANIZATION.—Chartered Apr. 15 1873.
The People's Trac. Co.
Ridge Avenue Passenger Ry.
(18)
ORGANIZATION.—Consolidation of Girard College Passenger Ry. and
Ridge Avenue & Manayunk Passenger Ry. on March 8 1872.
Leased
Philadelphia Traction Co. for 999 years from Sept. 1 1892 for dividend
per share per annum to Sept. 1895 and $12 per share thereafter.
Operated by Phila. Rap. Transit Co.
Income Tax Decision.—See under .Phila. Rapid Transit Co. above and
the
to the
of $10
_
on
Apr. 15 1893 acquired the entire capital stock of this road at $70 per
The Traction Co. then leased the People's Passenger Ry.
By a
share.
tripartite agreement this lease was on July 1 1896 assigned to the Union
Trac. Co. for 998 years and three months.
Rental Is 10% per annum on
capital stock ($2 50 per share) as below shown. nearly all of which Is pledged
for People's Traction Co. trust certificates.
STOCK AND BOND8—
Date.
Interest.
Outstanding.
Maturity.
Common stock ($25)
10% M-S 31
a60,000 shs. See text
a23,000 shs. See text
Preferred stock ($25)10% M-S 31
4 J-J 15
First mortgage ($l,000)c.cpt 1874
$219,000 Jan 15 1935
4 J-J
285.000 July 15 1901
Second
mortgage
$500,0001 1881
($1,000)
-c.cpt/lnt. at Guar. Tr. & S. D. Co,, Phila., Trus.
Consolidated mtge $1,125,-1 1882
4 M-S
240,000 Mar 1 1902
000
($1,000)-—c&r.cptfInt. at Guar. Tr. & S. D. Co., Phila., Trus.
a Total stock paid in $924,056.
Int. on 1st M. bonds at Land Title & Trust Co.
The 1st M. bonds ma¬
tured Jan. 15 1905, but $219,000 of the $250,000 were extended as 4s to
1935, the remaining $31,000 being canceled.
The 2d M. bonds matured
July 15 1911, but were extended as 4s to 1901.
Consol. mtge. bonds were
originally 5s and fell due Mar. 1 1912, but were extended for 50 years as 4s.
Due People's Traction Co. June 30 1918 for construction and equipment.
-
— -
$5,934,282.
or
The stock acquired oy the People's Traction
trust certificates.
See People's Traction.
Co.
was
pledged as security
V.
chartered
March
0
and equip with trolley the People's Passenger Ry., the
capital Stock of which It purchased on or about April 15 1893.
In
Oct. 1895 the Union Traction Co. acquired all traction'stock at $70 per
share, the Pennsylvania Co. for Insurances on Lives and Grant. Ann.
Issuing therefor its guaranteed trust certificates.
On July 1 1890 the Union
Traction Co. leased the road for 998 years and three months.
Date.
(Seel
-
Issuea.
Interest.
See text.
—
— —
—
Philadelphia City Passenger Ry.—A trolley road.
(13)
Leased to West Phila¬
delphia Passenger Railway Co. for 999 years from Jan. 1 1884 for interest
on bonds, $2,500 per year for organization and dividend of $7 50 per share.
Transferred under lease of Philadelphia Traction Co. Oct. 1 1895 to the
Union Traction Co.
The 1st mtge. 4% bonds due Jan. 1 1900 were origi¬
nally 5% bonds, and fell due Jan. 1 1910, but were extended at 4% without
option of prior redemption.
V. 89. p. 1543
Income Tax Decision.—See under Phila. Rapid Transit Co. above, and
V. 108, p. 784.
STOCK AND BONDSStock
$1,000,000
($50)
Date.
Interest.
Outstanding.
Maturity.
|shs.\
See text
\$23 75 paid J
First
4 J-J
mortgage
extended! 1861
4 J-J
$200,000 Jan 1 1900
($500) c
cpt J Land Title & Trust Co., Trustee.
Debentures ($500 &c) c.cptj
5 M-S
100,000 Mar 1 1935
[Interest at Land Title & Trust, Co., Phila
ROAD.—Trackage, 7.566 miles.
V. 89, p. 919, 1543; V. 108, p. 785.
Philadelphia & Darby Ry.—A trolley road.
(14)
ORGANIZATION.—Incorporated April 28 1857.
Leased to the Phila¬
delphia City Passenger Railway Co. for 999 years from Jan. 1 1870, for
$8,000 per annum and interest on bonds.
Transferred under lease of
Philadelphia Traction Co. Oct. 1 1895 to Union Traction Co.
i
Income Tax Decision.—See under Phila. Rapid Transit Co. above and
V. 108, p. 784.
Interest.
Date.
Outstanding.
Maturity.
4 J-J
$200,000
See text
4 M-N
100,000 May 1 1927
c.cptf
[Int. at Land Title Sr. Trust Co., Phila., Pa.
ROAD.—Trackage, 16.074 miles.-J-V. 108, p 784.
Philadelphia & Qray's Ferry Passenger Ry.—Trolley,
(15)
Leased to Philadelphia
Traction Co.
for 999 years from Jan. 1 1891 at rental, first five years,
$43,225. or $3 50 per share per annum, and $49,400. or $4 per share per
thereafter, the lessee to pay all taxes, running expenses, &c.
Oper¬
ated by Phila. Rapid Transit Co.
In March 1903 absorbed the Schuylkil
River Pass. Ry. and increased capital stock to $1,000,000.
V. 70. p. 054.
Stock: auth., $1,000,000 ($50); outstanding. 12,388shs., about $25 pd.in.
Dividends at Real Estate Title Ins. & Trust Co.
Trackage, 10.612 miles.
annum
Philadelphia
(16)
Traction.—A
trolley
10 1858.
Leased Jan. 1 1893
Southwark Passenger Railway Co. for 999 years for the
following guaranteed dividends per share per annum:
1893.
1894-95.
1896-97.
1898-99.
1900.
1901.
1902 & after.
$8 50
$9
See below
$10
$10 50
$11
$12
Dividends In 1896 and 1897 were to be $9 50 per annum, but the dividend
for 1896 and for the first half of 1897 was at the rate of $9 per share Instead
of $9 50. the balance being applied to the payment of the debt of $27,000
Incurred for paving.
V. 62, p. 785.
The full $12 per annum however,
ti&s
paid since.
This lease was assumed by Electric Traction Co. July 1 1893Stock issued, 21,204 shares (par $50); $771,076 paid in.—V. 107, p. 2377.
road.
provides for dividends of $4 (8%) per annum on each $50 share, payable Id
Sold coin, free of taxes. See V. werep.allowed to subscribe for new Union
663'. for extracts from lease. Philaelphia Traction stockholders 01,
road, which
23654
are guaranteed.
"94.
on
the 10.000 shares of the
17th &
19th Streets
then held by the Union Passenger Railway Co. as trustee
to the Union Co.
Stock all owned by
lessee, being also transferred
Continental Pass. Ry. Co
Date.
Interest.
Stock (par $50)
First,
Maturity.
Outstanding.
3 J-J
See text
110.000 shsJ
$25 paid
exten-f 1876 54 J-J
$100,060 Ojly 1 IP29ded
c.cpt) Int. at Fidelity Trust Co., Phila., Trustee.
The bonds originally bore int. at the rate of 5% per annum and matured
July 1 1919, but were extended for 10 years at 5%%.
mortgage ($500)
—
lessee for additions June
Due
30
1918
$554.2ku
ROAD.—Trackage
13.80 (par $50); $771,076 paid in.
(21) Thirteenth
Fifteenth Streets Passenger Ry.—A trolley road
&
ORGANIZATION.—Incorporated April 8 1859.
Leased Jan. 1 1892 to*
Philadelphia Traction Co. for following rental: From Jan 1892 to Jan. 1894.
$9 per share per annum; 1894 to Jan. 1897, $10 per share; 1897 to Jan.
1900. $11 per share; and from Jan. 1900 $12 per share.
Lease transferred
Union Traction Co. Oct.
to
Income
V.
108,
1895.
1
Tax Decision.—See under
p.
Phila.
Date.
Stock $1.000,000 (par $50)
Consols
Rapid Transit Co. above and
785.
STOCK AND BONDS—
The consols
are
Interest.
$12 J-J
($500,000).—c.cpt 1894
Real estate mortgages
cpt
Outstanding.
Maturity
$334,529 pd in
See text
$436,000 Jan
I
1934
55,000
5 & 3 4 J-J
—
guaranteed, prin. and Int., by the Phila. Traction Co.,
and the coupons are payable tax free; $36,000 of these are 34s and were
exchanged for old 7% bonds of like amount due Oct. 1 1903.
V. 77. p. 695
Interest and dividends are payable at office of the Fidelity Trust Co..
the
trustee of both
mortgages.
|
Dividend in July 1895. $5 per share; the Jan. 1896 dividend was not paid,
owing to payment of city's claim for paving.
V. 61, p. 1155.
In July
1896 paid $4 per share; In 1897 $10 50 per share; In 1898, $11 per share; In
1899, $11 per share: In 1900. $11 50 per share; 1901-1907, IncL, $12 per
share per ann.
ulated surplus);
In 1908, Jan., $0; July, $6. and $1 extra (paid out of accum¬
1909 and since, $12 per share per annum.
ROAD.—Trackage 19.508 miles.—V. 86.
(22)
p.
1531; V. 108, p. 785.
Union Passenger Railway.—Trolley road.
ORGANIZATION.—Incorporated April 8 1864.
Leased to Philadelphia
Traction Co. for 999 years from June 30 1884 at
an annual rental of $285,000,
$9 50 per share on stock, and interest, taxes, &c.
There are outstanding
30.000 shares ($1,500,000) of stock, on which $30 83 1-3 has been paid in
on
each share, or a total of $925,000.
Stock is considered full paid.
$302,300 of the stock Is owned by the Philadelphia Traction Co.
Its lease
of the Continental Passenger Ry. was assigned to the Philadelphia Traction
Co. and from Oct. 1 1895 to May 1 1902 operated by the Union Traction Co.
or
Union Passenger Railway Co. is still holding, as lessee and trustee.
6,100 shares Empire Passenger Ry. stock and 10.000 shares of 17th & 19tb
Streets Passenger Ry.
The
STOCK AND BONDS—
Date.
Stock $1.500.000 (par $50)—
First
mortgage
($100
1881
$500)
mortgage
$500)--
Interest.
Outstanding.
See text.
$9 50 J-J
and)
4 A-O
Maturity
See text.
$500,000 Mar 31 1961
c.cpt I Pennsylvania Co. for Insur. on Lives, Trus.
($100 and\ 1884
4 A-O
250,000 Mar 31 1960
c.cptflnt. on both loans at Land T. & T. Co., Phil.
Due lessee company for additions June 30 1918, $6,655 512.
The 1st mtge. bonds were originally 5s and matured March 31
1911. but
|to Jan. 1911 arrangements were made with Drexel & Co., Phila., to
pur¬
chase the bonds, and they were extended for 50 years at 4% without option
to call.
V-. 92, p. 190.
The 2d M. bonds of 1884 were formerly 5s, and ma¬
tured Mar. 31
prior
1910. but
redemption.
substituted
V.
were
90.
extended for 50 years at 4% without right of
628.
Land Title & Trust Co. has been
p.
trustee.
i
p.
2529; V. 109,
p.
2440.
West Philadelphia Passenger Ry.—Trolley.
(23)
ORGANIZATION.—Incorporated May 14 1857
Leased Jan. 1 1884 to
Philadelphia Traction Co. for 999 years at an annual rental of $150,000.
Open accounts
"95.j'96 and since.
6
V. 61.
Miles
Miles.
Union
Passenger Ry_
13.80
80.97 17th and 19th Streets..
West Philadelphia Pass Ry
72 93 22d & Allegheny
.65 27
Ridge Avenue Passenger Ry —15.40 Catharine & Balnbridge Streets 5.46
.17
Philadelphia & Darby Pass. Ryl6.07 Huntingdon St Connect
—
.
15th Streets
19 50
Kessler St. Connect
.10
Philadelphia & Gray's Ferry
10.61
Ridge Ave. Connect
.22
1.38
Contiuental Passenger Ry—
11.41 Walnut St. Connect
Empire Passenger Ry..
12.41
Total of all
Philadelphia City Passenger Ry 7.50
.333.35
V. 92, p. 396; V. 93, p. 408; V. 97, p. 951; V. 106, p. 925; V. 108,
p. 785.
Ry,
the
'87. "88. '89. '90-'93.
Under lease, dividends of 8%
13th &
Streets Passenger
ROAD.—Trackage, 80,974 miles.—V. 108,
88 8% per annum
p
603; V. 73, p. 288.
ROAD.—The system assigned to the Union Traction Co. aggregated
333.355 miles, consisting of the following "Passenger Railways":
[
were
and
Rapid Transit Co. above, and
Stock, auth. and outstanding, $20,000,000 (par $50).
cent-
Nineteenth
Traction Co. to dividends
Traction
Per
&
Leased to the Conti¬
1 1879 at a rental of
$15,000 per annum, being 3% on 10,000 shares (par $50) stock, interest on
bonds, taxes, expenses, &c.
Transferred under lease of Philadelphia Trac¬
tion Co. Oct. 1 1895 to the Union Traction Co.; all rights of the Philadelphia
Second
the lease to the Union Traction Co., dated Oct. 1 1895, all the leases and
the securities owned were assigned to the Union Co., which assumes all
liabilities for rentals, &c.
The lease to Union Traction Co. is for 999 years from Oct. 1 1895. and
June 30 1918, $16,121,743.
Dividends—
i
*85.' *80.
Seventeenth
Passenger Railway Co. for 99 years from July
nental
ORGANIZATION.—Incorporated Aug. 22 1883 and secured control of
an extensive system of roads in Philadelphia, Pa. (about 210 miles
of track)
which it held either by lease or ownership of securities, not in fee.
Under
stock
See V. 61, p
197
Income Tax Decision—See under Phila.
V. 108. p.785.
Second & Third Street Passenger Ry.
(19)
ORGANIZATION.— Incorporated April
STOCK AND BONDS—
Stock (par $50)
First mortgage
ORGANIZATION.—Incorporated April 8 1858.
$28
to the Frankford &
(20,000
74 J-J
—
about
.
STOCK AND BONDS—
—
ORGANIZATION.—Incorporated April 9 1859.
($50);
Maturity.
Full paid
J
Trust certificates gold 1893
1893
4 g F-A
$5,807,970 Feb 1 1943
not
subject to call ($1,~ Interest, tax free, payable at Pennsylv. Co
for Insurances on Lives, &c., Phila, Trus
000)
cpt
Trust certificates were issued by Pennsylvania Co. for Insurances, Sec.,
and are secured by pledge of People's Passenger Ry. stock (see that company
above) and by contract of People's Traction Co., which guarantees principal
and interest.
Issue limited to $1,000 for 14 2-7 shares deposited, making
total authorized, $5,810,000.
Of this, $5,529,000 outstanding.
Sinking
fund $25,000 yearly, began Feb. 1 1903.
I
.
$750,000
outstanding,
debts, dividends for 1896 were continued at $10
per share Instead of the $12 as noted above.
In 1897 dividends were in¬
creased to $12 per share.
Trackage 15.40 miles.—V. 108, p. 785; V. 109,
p. 73.
1200,000 shs.\
__
and
STOCK.—Authorized
(20)
1893 to operate
text
785.
ORGANIZATION —Incorporated April 12 1859.
(12) People's Traction.—An*electric road.
ORGANIZATION.—A Pennsylvania corporation
STOCK, &c.—
Capital
stock
($30)
p.
per share paid in.
On account of some old
ROAD.—Trackage. 2/659 miles.—V. 03. p. 557; V. 92. p. 1500.
entire
108,
or
20%
on
stock, and Interest, taxes, &c.; transferred Oct. 1 1895 to Union
The Philadelphia Traction Co. owns $392,950 of the $750,-
Traction Co.
000 stock
1
.
STOCK AND BONDS—
Stock
First
mortgage
Date.
(par $50)
gold
Second
mtge
($1,000)
f 1876
.c.cpt!Glrard
($1.000)-Cicpt
Free from tax.
1886
Interest."
Outstanding.
$10 J-J
3 4 A-O
Trust Co..
5 M-N
$750,000
laturity.
See text
246.000
April 1 1950
Philadelphia, Trustee.
750.000 May 1 1920
Pennsylvania Co. for Ins. on Lives & Grant¬
ing Annuities, Phila
Pa.. Trustee.
.
Bonds.—Interest on both loans payable at Land Title & Trust Co., Phila¬
delphia. Pa. «The first mortgage 6s matured April 1 1906 but were extended
for 50 years at 3 4 %.
Due lessee for additions to June 30
1918. $2,509,003-
ROAD.—Trackage, 72.937 miles.—V. 108,
p.
2529; V. 109.
p.
2441.
ELECTRIC
APR., 1920. |
105
RAILWAYS
INTER-STATE
Norristown Ry. stock,
Financial
and 1,600 shares Media, Glen Riddle and Rockdale Electric St.
stock, were withdrawn from collateral.
V. 106, p. 87.
RAILWAYS.
due Feb. and Aug. 1909 was paid after some
1127, 1197; V. 89. p. 348. 1141.
On Nov. 25 1910 share¬
holders ratified the readjustment plan (V. 91, p. 1385, 1512) calling for the
issue of $1,000,000 6% cum. prer. stock, shareholders to take $500,000 as
par for cash (payable in 5 installments of 20% each at Intervals of 30 days
beginning with 2 payments Jan. 2 and ending April 1 1911), and bondholders
to take $500,000 at par in lieu of 1910 and 1911 coupons on bonds.
V. 91.
p. 1711; V. 92, p. 59.
Entire Issue was subscribed and taken. V. 92, p. 1032
Leases of Controlled Properties.—The leasing cf the underlying companies
was consummated in 1910 upon Satisfactory terms.
The subsidiaries are
in four groups, Wilkes-Barre, Reading, Trenton and Wilmington.
The
Wilkes-Barre Rys. Co., the Reading Trans. Co. (succeeded by Read. Trans
& Light Co. in Mar. 1913, control of which was acquired by Eastern Power
St Light Corp.), the Trenton & Mercer County Traction Corp., the Southern
Pennsylvania Traction and the Wilmington & (Philadelphia Traction Co.
were formed to take over the various properties.
V. 91, p. 1512; V. 92, p
261.
Statements for these
companies will be found respectively under
Wilkes-Barre. Reading. Trenton and Philadelphia.
The aggregate annual income under the above leases Is as follows (but
delay.
1920
see
Plan.—Int.
V. 88.
p.
$808.54211925
$826 043
818,54211926 and thereafter an|
nually
830,000
1923—..
1924..
798,542
Fixed Charges to Be Paid
Out of Above Rental Plus Any Other Income.
Int. on 4s.
Inter-State
Taxes.
Total.
x$431,064
x252,140
$3,145
3,297
$434,209
255.437
Railways
United Power & Transportation
$6,442
$683,204
Total
Note.—The above figures do not include the
be added thereto,
x Includes int. on 4s
must
'
Default
in Rental—Dividend Passed.—Failure of the Trenton
& Mercer
County Trac. Co. to pay its rentals, due to increased operating expenses,
resulted in the omission of the 1918 and subsequent divs. on the pref.
stock.
See V.
since July 1
Up to April 1 1920
106, p. 189.
no
rentals had been paid
1917.
ORGANIZATION.—Incorporated in New Jersey on Dec. 4 1902 with
very broad powers.
Is empowered to purchase, acquire, develop and con¬
struct street railways, electric light and power, water and gas companies.
In Dec
1902 obtained control of the United Power & Transportation Co.
through purchase of the outstanding ($3,593,750) capital stock, on a basis
of $75 for each $25 share, payable in collateral trust bonds.
$3,592,200 of
this stock
was exchanged for bonds on this basis.
April 23 1915 stockholders approved the issuance of new, irredeemable
preferred stock in exchange for the old pref. stock.
V. 100, p. 1592.
Under a supplemental agreement dated July 26 1917 between the Inter¬
state,Rys. Co., United Power & Transportation Co. and Real Estate Title
Insurance & Trust Co., the outstanding amounts'of United Railways and
Delaware County Ry. gold trust certificates (see United Power & Trans¬
portation Co. below) were reduced and some of the collateral pledged
therefor withdrawn.
Compare V. 103, p. 2238: V. 105, p. 716.
The cash
received by the Interstate Rys. Co. from the sale of some of the withdrawn
collateral has been invested. V. 106, p. 86.
On
Interest.
Outstanding.
Maturity
$2,291,200 f. p.
J-J
1,000.000
See text.
1903
4 g F-A
10.776.600 Feb 1-1943
c*j Int. at Real Est. Title Ins. & Tr., Phila., Tr
Date.
STOCK AND BONDS—
Com
$9,000,000
($100).
—
Pref $1,000,000 ($10) 6% cum
Collateral
trust
gold
$10,-1
781,250
Stock.-—'Com.
stock
listed
was
on
the
Philadelphia Stock Exchange in
V. 92. p. 1243: V. 93. p. 164.
$965 020 of the old preferred
exchanged for the new up to April 1 1920.
April 1903.
stock had been
Bonds
are
and
deposit of United Power
They bear 3% interest the first year, 34% the
and subsequent years.
Denominations $100,
Are subject to call at 105 and int. on 30 days* notice
the
4%
$500 and $1,000.
third
Dividends.—Initial div. on pref.—3%—paid July 1911; same rate semi¬
annually to and incl. July 1917. Jan. 1918 div. passed (see V. 106, p. 189).
None since.
.
REPORT.—Year ending Jan. 31:
Total
Interest
Fiscal
Year—
1919-20
1918-19
same
amount
Jan. 20.
$1; July 10. $1; in 1903. Jan. 20. $1; in 1904. Jan. 16. $2 66: in
1905. Jan. 24. $2 39: In 1906 Jan. 26. $3 10: in 1907. Jan. 24. $3 20: in
'908 Jan. 30, $3 31; none to July 1911. when $1 10 was paid: In 1912. Jan.
30. $1 40; July 29. $1 41; in 1913. Jan., $1 79; July, $1 26:
In 1914.
Jan.. $1 52; July, $1 40.
In 1915. .Jan.. $1 54: July. $1 34
Tn 1916.
In 1917, Jan., $1 55: July, $1 23.
Tn 1918
In 1919, Jan., 50c.
None to Jan. 1920 when
Jan., $1 55: July. $1 43.
Jan., $1.32; July, $1.20.
$1.95 was paid.
REPORT.—
Cal
Year—
on
$564,019
523,963
1918
Arc.
Dividend Surp. after
Paid.
Divid ds
$29,342
33,288
$280,312
$2,224
244,375def. 11,032
Taxes,
Interest.
From
Tnvestm'ts
1919
4s.
$252,140
257,332
OFFICERS.—Pres.. John A. Rigg: V.-P., Walter A. Rigg; Treas.. T. W.
Grookett Jr.; Sec. & Asst. Treas., J
W. Goodwin; Counsel
R L Jones.
General offices, 411 Market St., Camden. N. J.—V. 106. ». 1462, 2230:
V. 107, p. 1102, 1386; V. 108, p. 380; V. 110, p.
MUNICIPAL
563.
SERVICE CO.
on Feb. 14 1912 to buy, sell and
In March 1917 acquired control of the
(which see under "Oil City, Pa.").
In May 1917
acquired the Youngstown & Suburban Ry. Co. (which see under " Youngstown, Ohio)" by exchange of stock and bonds, as per offer in V. 104, p.2235
Also controls through stock ownership the Chester Valley Electric Co.
Ooatesville
(Pa.). Salem (O.) Lighting Co.. Alexandria Co. (Va.) Lighting
Co. Staunton (Va.) Lighting Co., and Valdosta (Ga.) Lighting Co.
The
properties are operated by Day & Zimmerman, Inc., Philadelpia.
Valuation.—The valuation of the co.'s various properties was placed at
,500,000, by Day & Zimmermann in Dec. 1918.
V. 108, p. 171
In Dec. 1918 issued $700,000 10-yr. debentures to refund outstanding
notes (V. 109, p. 371) and to pay for add'ns and impt's.
V. 108, p. 171
ORGANIZATION.—Incorp. in Maine
operate public utility
Citizens Traction Co.
properties.
STOCK AND BONDS.
Outstanding.
Interest.
Date.
Maturity.
$2,000,000 ($100)
Q-J
$810,000
See text
Q-F
1,462.000 Nov *19,14
6% $2.000,000($100)
10-yr deb bonds
6%
700,000 Dec 1 1928
($500 & $1,000) g—L—ctfflRed. at 101 on any int. date.
5-yr. notes $300,000.
1915
6% " "
248,000 Aug 1 1920
Common
Pref
cum
$1,500,000j 1918
-
MtgeT 1917
5 M-S I
2,747,500 Mar 1 1942
$20,000,000 ($500 and $!,-(Interest payable in Boston and Philadelphia.
000)
c* cpt\Philadelphia Trust Co.. Trustee.
First
Lien
Coll
Trust
Bonds.—Secured by $2,729,000 mortgage bonds, $1,226,500 pref. stock and
$2,283,100 common stock of subsidiary companies.
Additional bonds may
be issued only for acquiring and placing under the mortgage at least an
equal amount of mtge. bonds of subsidiaries now outstanding, or, further,
at the rate of 85% for those to be issued by subsidiaries for construction,
but under
certain earnings requirements.
Sinking fund of 6% of net
earnings of subsidiary companies after payment of operating expenses,
taxes and renewal reserves, lass sinking fund payments on present sub. co.'s
I 1918 to Mar. 1 1925, and 5% thereafter.
Subject
int. date at 103 and int.
Additional deben¬
be issued only under certain restrictions.
Tax refund in Penna.
and Mass. to amount not in excess of laws in effect at time of issuance.
mortgages, from Mar.
to call in whole or part on any
tures may
dated Feb. 1 1903 and are secured by
Transportation stock.
second
a dividend of 50c. per share was paid,
July 16 1900: in 1901. Jan. 21, $1; July 10. $1; in 1902,
DIVIDENDS.—On Jan. 20 1900
also
$689 646
Federal income tax. which
held in treasury as invest¬
ments.
&
The principal of both series (which are In $100, $500 and $1,000 pieces)
Is due at option of holder on July 1 1949 and thereafter on any Jan. 1 or
July 1 at the option of the United Power & Transporation Co.
For both
series, also, the semi-annual interest (J. & J.) and the principal are payable
in gold coin, free of tax, at the office of the Real Estate Title Insurance A;
Trust Co. of Philadelphia, trustee
remarks below):
778.542
788.542
9,775 shares of Schuylkill Valley Traction Co. stock
Ry. Co.
Coll
Receipts
Trust
$310,496
323,598
-_.$343,921
337,840
Exp. &
Preferred
Balance
Tares
Dividends.
Surnhi*
$19,766
8,821
$13,660
5,420
-
Initial div. of 1% on com.
1917, 4%.
None since.
companies (incl. Citi¬
zens Trac. Co. and Youngstown & Suburban Ry. Co.) for cal. year:
12 Mos.—
Gross.
Net, aft. Taxes. Deprec'n.
Fixed Chgs.Bal. for Div.
1919--.. $2,105,880
$601,061
$118,939
$355,792
$126,330
1918
1,692,700
473,870
96,608
3.51,248
26.014
OFFICERS.—Pres., Geo. B. Baker; V.-P.. Gordon Campbell: Sec.,
John E; Zimmermann: Treas., L. B. Harvey: Asst. Sec.. C. A. McClure;
Asst. Treas., Jos. "VV. Swain Jr.
General office, Land Title BIdg., Phila.
Dividends.—6% Is being paid on pref. stock.
stock paid
—V.
John A. Rigg; V.-P., Walter A. Rigg: Treas.. T. W
Grookett »r.; Sec. & Asst.. Treas.. J W. Goodwin
OffW 411 Market St
OFFICERS.
in April 1914; in 1915, 3%; 1916 and
EARNINGS.—Combined earnings of subsidiary
108, p. 171: V.
109. p. 371.
I'res
Camden, N. J.—V. 108,
p.
FRANKFORD TACONY & HOLMESBURG
171. 378; V. 109, p. 477, 2357.
RY.—A trolley road.
1910 as a reRy.. sold at
ORGANIZATION.—Incorp. in Pennsylvania on July 11
UNITED POWER
irganization of the Holmesburg Tacony & Frankford Elec.
foreclosure June 1 1910.
For terms of exchange of bonds of
& TRANSPORTATION CO.—Electric roads.
Incorporated April 20 1899under New Jersey laws to construct, develoi
own street railways, power companies, &c., and do a general business
(V. 68, p. 929).
In Dec. 1902 stock was acquired by Inter-State Rys. Co.,
which see immediately above.
On Dec. 31 1919 owned the following stocks and bonds.
We show also
the total amounts outstanding of each issue.
and
Owned.
Shares.
Stocks—
Delaware County & Philadelphia
Lebanon Valley Street Ry Co
5,993
9,992
Electric Ry
Shares.
6.000
10,000
1,640
1.632
Reading & Southwestern Ry
Roxboro Chestnut Hill & Norristown Ry. Co
360
2,600
4,951
4,968
9.995
19,969
10.000
20.000
ihw
r-ompany
Fare Increase.—In
Tot. Stk.
Media Glen Riddle & Rockdale Electric Street Ry
—
old company
honds. see void 276
Franchise ocrppninl
Aug. 1918 filed with the Penn. P. S. Comm. a new
tariff increasing fares from 5 to 6 cents. V. 107, p. 696.
Operation.—At a hearing held May 9 1919 on complaints of inadequate
service, it was proposed that the Phila. Rapid Transit Co. manage the
line upon some basis of joint operation.
V. 108, p. 2122.
'or
STOCK AND BONDS—
19
20
49,992
39.995
5.095
978
50,000
40,000
5,100
1,040
1,035
644
1.200
Trenton Traction Co
Wilkes-Barre & Wyoming
Wilmington
Wilmington
Wilmington
Wilmington
Wilmington
Valley Traction
& Chester Traction
City Electric
& Great Valley Turnpike Co
& Philadelphia Turnpike
& Christiana Turnpike Co
—
.
680
$25, full paid.
In
Mar. 1902 outstanding stock was increased from $3,125,000 to $3,593,760
(V. 74, p. 682). the additional shares being sold to stockholders at $35 P«*r
$25 share.
Bonds, 4% coll. trust certificates, are in two series which we
have marked (a) and (6) below.
(Stock and bonds listed on Philadelphia
Exchange.]
(a) Under a trust agreement between the United Power &
tion Co. and the New York Trust Co., trustee, dated May 1
Transpoita1899. and
a
supplemental agreement dated July 26 1917 there are issued $5,372,800
United Railways gold trust certificates secured by deposit of 19,953 shares
Trenton St. Ry. Co., 39,993 shares Wilmington & Chester Traction Co.,
5,089 shares the Wilmington City Electric Co. and 49,911 shares the WilkesBarre & Wyoming Valley Traction Co.
Pursuant to the supplemental
trust agreement dated Julv 26 1917. thp amount of outstanding certificates
was reduced from $7,918,000 to $5,372,800 by acquisition by the co. and
subsequent cancellation of $2,545,200 thereof through the sale of certain
assets pledged as security therefor as follows: 79,991 shares of the United
Traction Co. of Reading and 35,800 shares of the Edison Elec. Ilium. Co.
of Lebanon, Pa., which, together with the remaining shares of said cos.
in the treasury, were sold for a considertaion of $1,250.000 par value United
Railways gold trust certificates and $2,760,000 cash; 1,125 shares of Read¬
ing & Southwestern St. Ry., 4.925 shares of Roxborough Chestnut Hill A
Norristown Ry., 9,975 shares of Schuylkill Valley Traction Co., 1,600
shares Media, Glen Riddle and Rockdale Electric St. Ry. Co., and 14,992
shares of Holmesburg Tacony & Frankford Electric Ry. (sold under fore¬
closure in 1910 and reorganized with no realization on its capital stock)
see Frankford Tacony & Holmesburg Ry. below) were also withdrawn from
collateral for the trust certificates and are held in company's treasury.
The cash received by the company was invested in United Railways and
Delaware County, Ry. gold trust certificates.
V. 106. p. 87.
(b) $930,750 Delaware County Ry. gold trust certificates under a trust
agreement between the United Power & Transportation Co. and the Real
Estate Title Insurance & Trust Co. of Phila.. dated May 1 1899, and sup¬
plemental agreement dated July 26 1917. under which the United Power A
Transportation Co. has deposited with the said trust company, as trustee,
5,993 shares Delaware County & Philadelphia Elec. Ry. Co.
Under sup¬
plemental agreement dated July 26 1917 the amount outstanding was re¬
duced from $998,950 to $930.750 and 1,125 shares of Reading A South¬
western
St. Ry.
stock.
4,925 shares of Roxborough Chestnut Hill &
$500,000
Maturity
—.
„
~
_
,
.
_
,
_
-
ROAD.—Operates 17.29 miles of track between Philadelphia. Frankford,
Bridesburg, Tacony, Holmesburg and Torresdale, of which 1 mile (in Phila.)
Is leased.
60-lb T and 80-lb tdrder rails
Gauge 5 ft. 2^ in.
28 motor
cars, 14 trail cars and 7 miscellaneous cars.
STOCK & BONDS.—Stock auth., $3,593,750; shares
Stock
Outstanding.
gold ( 1910
5 g J-J
400.000 July 1 1940
($500 and $1.000)
Ctftlnt. at. Tacony Trust Co.. Phila.. trustee.
htmds.—Remaining $100,000 bonds are reserved for extensions and beterments.
Bonds are not subject to call.
They are listed on Phila. Stock
Sxchange.
V. 93, p. 105.
Net. after
Bond
Balance,
Revenue
Earnings—
Oross
Cal. Year—
Earnings. Taxes. Ac. Interest. Surplus. Passengers
$16,238
$20,000 df $3,762
$2,800,528
1918
$158,977
1917
159,720
1917
24,033
20,000
4,033
2,991,728
1916—1
1916
152,819
41,306
20.000
21,306
2,900,585
~
Schuylkill Valley Traction Co
Trenton Street Ry
Interest.
Date.
Stock $500,000 ($50)
First mortgage $500,000
OFFICERS.—Pres. and Mgr., Meyer
Sec. & Treas., Patrick
Schamberg: V.-P.. C. B. Fraley;
V. 108 p. 2122.
Grant.—V. 98, p. 453; V. 107, p. 696;
TRENTON BRISTOL & PHILADELPHIA
STREET RY.
ORGANIZATION.—Incorporated In Pennsylvania as successor to the
foreclosure on Aug. 2 1909 to a bondhold¬
ers committee.
V. 89. p. 349. 780.
For distribution of securities of new
company by said committee to holders of certificates of deposit of predeces¬
sor company In
Dec. 1915. see V. 101. p. 1075.
Fares.—In Jan. 1920 filed notice with the Penn. P. S. Comm. of an in¬
crease in fares from 6 to 7 cents.
V. 110, p. 466.
Phila. Bristol A Trenton, sold at
STOCK AND BONDS—
Interest.
Date.
Stock, ($50)
1st mtge
$750,000 ($1,000,( 1913
$500 and $100) g
c*tf)Union
Remaining bonds are reserved for
as a whole on any int. date at 105 and
Outstanding.
Maturity.
$410,800
-
5 g M-S
.413,800 Mar. 11943
Trust Co. of Md„ Bait., Trustee
corporate purposes.
Subject to call
int.
No sinking fund.
EARNINGS.—For years ending Dec. 31:
Gross.
Net.
Taxes.
_
Interest.
Deprec.
Surplus.
$20,665
—
def. $5,140
1918-"--20.852
8,116
def.6,890
ROAD.-Owns and operates 17 4 miles of track from Torresdale to Morrisvllle.
Rails. 60 and 90-lb. girder and 72-lb. T; gauge 5 ft. 2)4
inches
10 passenger cars, 1 freight car, 5 work cars, 1 snow plow, 1 engine and
1 generator, 400 k.w. capacity.
OFFICERS.—Pres.. Carl N. Martin; V.-P.. John Redwood: Sec. A
Treas., J. Elliot Newlin: Gen. Mgr.. M. J. Hill, Bristol. Pa.—V. 96. p.
654, 1158: V. 100, p. 1594; V. 101, p. 1975; V. 104, p. 766: V. 110, p. 466.
Year—
$144,354
170,893
1919.
$21,292
25.678
$5,767
3,600
PHILADELPHIA RAILWAYS CO.—A trolley road.
Receivership.—On Mar. 11 1919 Murdoch Kendnck was
appointed
This road had been operated by the U.S. ShipFleet Corp. since Dec. 10 1918.
ORGANIZATION.—Incorporated In Pennsylvania on May 13 1911 as
successor to the Southwestern Street Ry. sold at foreclosure Apr. 21 1911.
receiver for the company.
jjing Board Emergency
V.
92,
p.
1375.
ELECTRIC
106
STOCK AND BONDS—
■t
-
400.000 May 15 1941
5 g M-N 15
1911
$1,000)
-
PHILADELPHIA & WESTERN RY. CO.
ORGANIZATION, &c.—Incorpor. June 6 1907 in
Pa. as successor to
In 1910 control was acquired by a syn¬
Philadelphia Western RR Co.
dicate headed by Edw. B. Smith <fc Co.. of Philadelphia and New
Owns one-half of the capital stock of the Norrlstown Transit Co.,
road connects the Lehigh Valley Transit Co. with the Philadelphia
York.
which
West¬
stock of the De Kalb
Power Co.
For proposed line from Phila. to Valley Forge, Pottstown, &c., of which
the Phila. & Western Ry. Is to form the terminal trunk line, but take no
part in financing the plan, see V. 101. p. 924
In 1918 entered into a 10-year contract with the Counties, Gas & Elec.
Co. (a subsidiary of the United Gas Impt, Co.) under which the latter
supplies the company with all its power.
STOCK AND BONDS—
Date
Interest.
Outstanding.
Maturity.
Common $4,000,000 ($50).
$4,000,000
(see "ROAD" below), and the entire capital
Realty Co. and the Interborough Electric Lt. &
—
from
J,
2,000.000 Apr'20,
q-j
IX
$4,000,000( 1910
5 g J-J
2,630.000 July 11960
gold ($1,000).c*tfflnt. at Phila. Tr. Co., Phila., trustee, or at
(
Edw. B. Smith Co.. Philadelphia.
The com. & pref. stocks were listed on the Phila.-Stk. Exch. in May 1917.
Bonds.—Of remaining bonds $370,000 are in treasury.
Subject to call
at 102 X and interest on any Interest date on 60 days' notice.
Dividends.—First div.
on
pref. stock—IX%—paid April
15 1916;
First
■ame
mortgage
rate
quarterly since.
,
EARNINGS.—For years ending Dec. 31
Gross
Net (after Pur. of Interest
Preferred
Balance,
Taxes).
Equip. Charges.
Dividends.
Sur. or Def.
$732,301 $263,638 $8,400 $131,500 (5%)$100,000 sur.$30,208
1918---—- 619,151
216,351
8,400
131.500 (5%) 100,000 def. 15,462
Passengers carried during year ending Dec. 31 1919, 4,011,479, against
Calendar
Earnings.
Year—
r?919
3,563,318 in 1918.
ROAD.—Operates a high-speed double-track road 17.33mileslong between
Philadelphia, Norrlstown and Strafford, entirely on private right-of-way
and connecting with Phila. Rapid Transit Co.'s subway-elevated system at
69th & Market 8treets, Philadelphia, and with Penn. RR. main line at
Strafford Sta.
An extension from Villa Nova into Norrlstown was placed
operation on Aug. 26 19*2.
in Dec. 1912connection was made with the
Lehigh Valley Transit Co.'s lines at Norrlstown via Norrlstown Transit Co.
and a through service established between Allentown and Philadelphia.
Total tracks, 38.19 miles; gauge, 4 ft. SX in85-lb. rail; 22 passenger cars,
In
and 3 flat cars. 1 snow plow; total, 28OFFICERS.—Pres., Thos. Newhall; V.-P. & Gen. Mgr., J. L. Adams;
& Treas., S. Errickson.
Offices, Norrlstown, Pa.—V. 109, p. 578,
2 express
Sec.
981, 23.57.
PINE
THE
BLUFF, ARKANSAS.
BLUFF CO.
PINE
Co.
V. 108, p. 1512.
ORGANIZATION.—Incorp. Mar. 13 1912 In Ark. and owns and oper¬
street railway and water supply properties
In Pine Bluff.
Franchises for street railway and electric-light system
extend to 1951; water franchise to 1947, subject to the city's right to pur¬
chase at 5-year Intervals.
Controlled by the Arkansas Light & Power
ates the electric light and power,
Wage Increase.—V.
1709.
105, p.
STOCK AND BONDS—
Date.
Outstanding.
$700,000
700,000
/uu.uuu
Interest.
Com stock, $1,000,000 ($100)
Pref / ~/0 uuui
jrrei 7% cum $1,000,000($100)
.uuu.uwuv*j.uuj
vm
Q-M
Maturity.
Apr'19, 1%
Jan'20,12^
Jan 1 1942
mtge $2,000,000 gold! 1912
5-6 g J-J
1,521,000
$1.000)
c*&r*_tf lint. In N. Y.
New York Trust Co.. trustee.
Preferred Stock.—Pref. as to prln. and dlv.; red. at 115 on 60 days
notice.
A sum equal to 15% of gross earnings must be applied to maint.,
renewals, &c., before paying com. stock dlvs. and a depreciation reserve Is
to be built from this charge up to $125,000.
Pref. stockholders have full
voting power.
See V. 103, p. 1119, 1413.
Bonds.—$572,000 of outstanding bonds bear 6% Int.; rest 5%.
After
the first $1,000,000 bonds are out, further bonds may be Issued only up to
85% of cash- cost of impts., add'ns or exts., under restrictions.
Callable at
105 and Int. on any Int. date.
Sinking fund of 1% annually of bonds out
Jan. 1 1915 to 1924; 1H% 1925 to 1934, and 2% thereafter.
$560,000 of
the outstanding bonds are registered as tax-exempt In N Y. State under the
Secured Debt Tax Law.
V. 102. p. 976.
V
Dividends.—Quarterly div. of 1X. % on pref. stock were paid from March
1917 to and incl. Jan. 1918.
In 1918, April, 1X%: July, 1X%In
1919, Jan., l%%: and since at same rate to and incl. Jan. 1920.
Initial
div. of 1% paid on common in April 1919.
EARNINGS.—For 12 mos. ending Feb. 29 1920 and Feb. 28 1919:
12 Mos.—
Gross.
Net,aft.Taxes. Oth.Inc. Bond,&c.,Int. Bal.,Sur.
1919-20.
—..$607,605
$187,537
$552
$73,566
$141,523
1918-19.477,848
153,810
3,079
60,759
96,130
First
—
.
-
PROPERTY.—Generating station of 9,750 k.
lines; water pumping station with 2
transmission
capacity,
w.
60 miles
triple-expansion service
of 4,OOO,O0O gals, capacity each; 4 wells, said to be over 800 feet
deep; 2 concrete reservoirs of over 3,000,000 gals, capacity; 52 miles of
pole lines, incl. the street railway distributing system, and 3,559 meters;
37 miles of water mains, serving 3,000 customers' meters, and 312 fire
hydrants; street railway with 9X miles of equivalent single-track of 70-lb.
T rail; 21 "pay-enter" cars.—V. 103, p. 668, 1119, 1211. 1413: V. 104.
p. 664; V. 105, p. 1709; V. 106, p. 397; V. 108, p. 1512.
pumps
JOPLIN
&
PITTSBURG
$150,500
$48,832
150,500
def.9,530
ROAD.—Owns and operates 104-23 miles of track, embracing some
local street railway lines in Joplin, Mo., and all in Pittsburg, Kan. and
interurban lines connecting the two cities, and also Pittsburg with Frontenac,
Dunkirk, Radley, Franklin, Arma, Croweburg, Mulberry and Girard and
Cherokee, Mineral, Weir City, Scammon and Columbus.
70-lb. rails.
It Is proposed to extend the line into the Lawton-Waco zinc fields, IX
runs vary
outside
aud
During the 9 mos. ending Dec. 31 1918 company sold 31,062,227,400
ft. of natural gas and 83,129.48 barrels of oil.
On Dec. 31 1918 owned
controlled 1,943 gas wells and 3,453.71 miles of pipe, not including the
194.91 miles of mains of the Allegheny Heating Co.
Also owned or con¬
trolled 138 oil wells
(2) Electric Light & Power.—The Philadelphia Co. controls through stock
ownership the Duquesne Light Co. which forms the electric light apd
power division.
See statement on a subsequent page. .
(3) Street Railways.—These comprise about 657 m. of track, all operated
(as a matter of convenience and economy) by the Pittsburgh Railways Co.
(except thb Clairton St. Ry., Co., the Beaver Valley Traction Co. and the
Pittsburgh & Beaver St. Ry. Co., which are operated separately).
In
Feb. 1902 acquired the elevated railroad franchises which were
granted to Messrs. Bigelow, Oliver, Quay and others.
V. 74, p. 478.
(4) Artificial Gas.—Also controls the Consolidated Gas and South Side
Gas companies forming the artifical gas department.
In Feb. 1906 the United Rys. Investment Co. of San Francisco acquired
control through purchase of $21,000,000 of the common stock, paying for
the stock acquired partly in its own stock and partly in an issue of its coll.
trust bonds.
In April 1907 acquired $3,200,000 more of the stock by an¬
other Issue of coll. trust bonds; now owns $24,555,000 of the com. stock.
See statement of United Rys. Investment Co. under San Francisco and also
V. 82, p. 393, 988.
On Juiy 301914 Judge Ford in the Common Pleas Court at Pittsburgh
held that under the terms of the old ordinance passed in 1884 the com¬
or
pany is obliged to furnish free gas for
including the case in question—the
1912 the company made an
system (book value, $8,265,000), and also turned over to the Railways Co.
the bills payable of that co, and of certain underlying cos. (book value, $10,649,052) held by the Phila. Co.
In return it received $10,000,000 par value
6% debentures of the Railways Co.; Interest on'these debentures is payable
only if earned and is non-cumuIative.__ See report for year end. Mar. 31
1913 In "Chronicle" of May 24 1913. page 1499.
In July 1916 the Equitable Coke Co. purchased from the Allegheny Coal
Co. all its operating coal properties, including over 3,000 acres of coal land
In Allegheny Co., and equipment, in order to Insure the coal supply re¬
quired by the Phila. Co.'s subsidiaries for production of power.
The
Equitable Coke Co. issued $1,500,000 3-year 5% gold notes, guar. p. & i.
by the Phila. Co., to effect the purchase.
Defaillt and Subsequent Payment of Interest on Subsidiary Co.'s Bonds.—
See Pittsburgh Rys. below.
Also Consolidated Gas Co. of Pittsburgh.
On July 1 1918 the bondholders of the United Trac. Co. filed a petition in
the U. S. District Court at Pittsburgh asking that the Phila. Co. and the
Pittsburgh Rys. Co. be jointly held responsible for payments due on
United Trac. Co. 5% bonds.
V. 107, p. 83.
In Mar. 1920 the U. S
Circuit Court of Appeals refused to hold the co. liable for int. on thes
bonds.
On Nov. 11
1937.
Equity Proceedings.-—On Feb. 13 1918 the
Stock
$5,000,000
$2,000,000
6%
cum. from April l
1916
First
mortgage
$5,000,000
($500 & $1,000)—,g c».tf
Pref.
common
...
rights
debentures due Aug. 1 1919 (both of these
table below).
V. 108, p. 579, 683.
Compare V. 107, p. 2098, 2188.
The stockholders on Aug. 30 1919 approved an increase in the
amount of common stock from $44,900,000 to $48,650,000.
V.
p.
1700.
5 g M-S
Harris
Trust
&
1,750.000 Mch 1 1930
Bk Chic., 8c St. L.
Sav.
•SCHEDULE
OWNED
Shares.
($500 & $1,000)
•
burgh (owns stock of Allegh. lllg Co.)_
Consol. Gas Co. of O. of Pitts
Chartiers Valley Gas Co
Pennsylvania Natural Gas Co
Equitable Gas Co. of Pittsburgh
Equitable Gas Co. of Pittsburgh,.
Pittsburgh &W.Va. Gas Co
do
do
Consolidated Traction
c*_tf\ Central Tr. Co. of Illinois. Chicago. Trustee.
Consolidated Traction
1913
6 A-O
1.050.000
STOCK
Total Issue.
Consolidated Gas Co. of the City of Pitts¬
April 1 1920
General mortgage $1,050,000
109,
OF OTHER CORPORATIONS
AND POSSESSED ON AUG. 31 1919.
OF CAPITAL
Allegheny Heating Co
Un. Tr. Co.. trustees.
auth.
Compare V. 108, p. 2630.
South Side Gas Co
800,000
1910
Equitable Trust Co., of Wil¬
equity in the U.S. District Court at Pittsburgh
coll. notes due Apr. 2 1919 and $1,957,000 conv. 5%
issues have been eliminated from
$7,000,0Q0 5X%
Strike.—A strike begun on Feb.
Maturity.
.
,
.
against the Philadelphia Company and .its subsidiaries, asking the Court
to restrain the defendants from limiting the supply of artificial gas in Pitts¬
burgh, and bring about the payment of all matured and unpaid interest on
the outstanding bonds of the Consolidated Gas Co.
V. 106, p. 822. This
suit has been withdrawn and all except $122,000 bonds of the Consol. Gas
Co. have been acquired by the Phila. Co. in exchange for the latter's pref.
stock.
See Consol. Gas Co. of Pitts, on subsequent page.
Rates.—In May 1919 the W. Va. P. S. Comm. was reported to have auth.
an increase in rates for natural gas, in that State, of 3 to 5 cents per 1,000
cu. ft. for industrial and domestic consumers.
V. 108, p. 1937.
In Feb. 1919 issued $10,000,000 3-year 6% notes (secured by new 1st
Ref. & Coll. Tr. M. 5s, due Feb. 1 1944) the proceeds being used to retire
cents per mile was
Outstanding.
$3,300,000
1290.
suit in equity was instituted by
compel the company to rec9gnize
liability for the principal and int. of all bonds issued by subsidiaries in the
street railways system.
V. 108, p. 879.
On April 10 1919 Judge Chas. P.
Orr in the U. S. Dist. Court at Pittsburgh dismissed this suit.
V. 108, p.
The bondholders committee has appealed to a higher court.
V. 108,
1611.
10-cent fare.
Interest.
V. 110, p.
Suit Dismissed— On Feb. 14 1918 a test
bondholders of the United Traction Co. to
Valkenburgh and Wade, sitting at Kansas
City, Mo., issued an injunction restraining the Missouri P. S. Comm. from
enforcing a passenger rate of 2.12 cents a mile on the Missouri lines of the
company.
The company has been auth. to collect 2.5 cents a mile on
condition that coupon slips be issued to passengers.
The difference between
that rate and the 2.12-cent rate will be impounded pending submission to
the higher courts.
Y. 109, p. 2357.
In March 1920 was auth. by the court
of Industrial Relations to increase fares to 3 cents per mile with a minimum
Date.
The company
rendered.
adjustment of its accounts and relations
with the Pittsburgh Railways Co.
It sold to the Pittsburgh Rys. certain
stocks of street railway and traction cos. included in the Pittsb. Rys. Co.
In
1919 Federal Judges Stone, Van
STOCK AND BONDS—
all city departments and properties
municipal hospital.
appealed and a decision favorable to lt was
mington, Del., filed a bill in
V. 110, p. 1289.
Wage Award by War Labor Board.—V. 107, p. 501.
12 1918 was ended Mar. 21 1918. the
men returning to work under old conditions.
V. 106. p. 1689.
In April 1920 we were informed that arrangements were being completed
for the extension of the gen. mtge. 6s due April 1 1920 for 3 years at 7%.
1289.
cu.
towns.
1918.
head¬
PITTSBURGH, PA.
Private right of way
perpetual.
Satterlee, Pittsburg, Kan,
City, Mo.
Operating
Kan.—V. 107, p. 501; V. 109, p. 2357; V; 110. p.
philadelphia company.
ORGANIZATION.—Organized on May 24 1884, and was originally a
natural gas company.
Operates under special Act of the Legislature of
Pennsylvania (conferring many valuable rights and privileges) granted to
its predecessor, the Empire Co., in March 1871.
Franchises of the com¬
pany and Its subsidiaries, with a few minor exceptions, are perpetual or
for 999 years.
Its business may be classed under the following heads:
(1) Natural Gas and Oil.—Philadelphia Co., through its own lines and
those of a number of cos. controlled by it, supplies nearly all the natural gas
consumed in the city of Pittsburgh and the manufacturing towns lying
along the Monongahela and Allegheny rivers.
Company controls by
lease 603.901
acres of gas and oil lands In West Virginia, Ohio and Wes¬
tern Pennsylvania.
In 1913 the PIttsb, & West Virginia Gas Co. pur¬
chased the Monongahela Natural Gas Co. by the issue or $1,500,000 coll.
trust notes (see below), The principal natural gas companies controlled are:
The Philadelphia Co. of W, Va.
Union Gas Co. of McKeesport.
Chartiers Valley Gas Company.
Allegheny Heating Company.
Equitable Gas Company.
Pittsburgh & West Virginia Gas Co.
Pennsylvania Natural Gas Co.
1
trolley road.
An increase in passenger rates from 1.93 cents to 2
auth. by the Missouri P. S. Comm.. effective April 22
V.-Ps., J. W. Ground and O. O.
& Asst. Sec., E. S. Bigelow,
General office, 919 Baltimore Ave., Kansas
quarters, Pittsburg,
Franchises In towns through which road
retired.
from 30 to 50 years and some are
of cities
into Lawton.
OFFICERS.—Pres., Joseph J. Helm;
Snider; Sec. and Treas.. John A. Prescott; Aud.
all of Kansas City, Mo.; Oeh. Mgr.. W. A.
ORGANIZATION.—Incorporated June 10 1907 in Missouri.
Took
over the Pittsburg Railway
& Light Co. and the Joplln & Pittsburg Street
RR.
V. 85, p. 469.
The Pittsburg Ry. & Lt. Co. was Incorporated In
Kansas In 1905 as a consolidation of the Pittsburg RR. and the Pittsburg
Light & Power Co.
In 1910 absorbed the Pittsburg & Kansas City Ry
(which company had acquired the Girard Coal Belt Elec. Ry.), and all bonds
of that company were
$199,332.
140,970
$806,826
672,366
—
miles, at an early date, and later on
KANSAS.
RAILWAY.—A
Surplus.
Net (aft. Taxes.) Bond Int.
Gross.
Year—
1918
p.
PITTSBURG,
The
EARNINGS.-—For calendar years:
1919
ern
Pref $2,000,000 5% cum
Jan 1 1916 ($50).
retired.
but as yet no
has beon made.
Bonds.—Remaining first mtge. bonds are reserved for extensions and
additions at 80% of cost, but only when previous year's net earnings are
twice Interest on bonds out and to be Issued.
Subject to call at 103 and
Interest on any Interest date on twenty days' notice.
No sinking fund.
Int. Is payable at Harris Trust & Sav. Bank. Chicago; Harris, Forbes 8c
Co.. N. Y., or any of the offices of E. H,Rollins & Sons.
V. 90, p. 914.
General mortgage bonds were Issued In exchange for debentures of 1910.
arrangement for this transfer
-
the
from April 1 1916 and also share In
earnings after common has received 6%.
$95,600 have been
rights will eventually be exchangeable for preferred stock,
-
c*tf lint, at Real Est. Tit. Ins.& Tr., Phila.,Trus.
Bonds are red. on any Int. date at 105 and Int.
>
EARNINGS.—
Gross
Net
Interest A Depre- Surplus or
Cal. Year—
Income.
Income.
Taxes,
elation.
Deficit.
1918
$205,420
$645
$25,992
$6,458 def.$31,805
1917.
137,073
28,776
24.024
6,000 def. 1,248
1916
122.431
30,866
23.646
7,000 sur.
220
ROAD.—Owns
and
operates 16
miles
of
track
within limits of
Philadelphia. Also operates branch of Chester & Phila. Rys. Co. from Bow
Creek to Essington, 3# miles.
Gauge. 5 ft. 2X in.
OFFICERS.—Pres., I. H. Siverman; Sec., Alvln W. From;
Treas.,
Benj. Wolf.—V. 92. p. 1375; V. 100, p. 475; V. 106. p. 2560.
and
Stock.—Pref. rights are 6% cumulative
Maturity.
Outstanding.
*400.000
Interest.
Date.
($50)..:
mtge $400,000 gold ($500/
tock 1400,000
[Vol. 110.
RAILWAYS
j.
280,000 Common out of
2,962 Preferred
"
x29,850 Common
"
20,000
"
"
13,927
'
5,975 Preferred
80,000
40,000
29,850
"
"
20,000
13,927
5,975
15,751 Common
37,500
"
"
20,000
"
37,500
22.500 Preferred
"
z4,747 Common
y233,117 Preferred
_y286.880 Common
"
4,754
"
"
240,000
286,980
22,500
Ape., 1920. J
ELECTRIC
V.
/.
Shares.
Halted Traction Co. of Pittsburgh
Union Gas Co. of McKeesport
-
Pittsburgh Railways Co
Pittsburgh Railways Co
Duquesne Light Co
Pittsburgh Electric Power Co
Philadelphia Oil Co
Braddock Gas & Light Co
Total Issue.
62 Preferred
"
60,000
16.000 Com., being all the st'k.
60,000 Preferred "
50.000 Common "
182,260
"
200
"
44
40.020
5,000
"
"
-
Seventeenth St. Incline Plane Co
5,000
Pittsburgh & Beaver Street Ry—
4,700
"
"
50
50
50
"
"
"
"
44
"
500
2.860
44
480
44
44
*20,000
21,500
44
44
1,092
44
44
Equitable By-Products Co
Equitable Coke Co
Equitable Equipment Co
Mansfield & Ohartlers Gas Co—
Cosmos Oil Co
Morningside Ellectric Street Ry. Co
The Philadelphia Co. of West
Beaver Valley Traction Co
Virginia.-
Six miscellaneous street railway cos
"
"
of the above shares marked thus, *, are in the hands
All
land
Trust
Co.,
March
Consol. Tract,
1
♦On
July 31 1919 the value
was 870,018,098.
owned
of the Mary¬
held as security for the collateral trust
bonds are also a second lien on the shares
♦SECURITIES
of stocks
Interest.
Date.
Pfcock com $44,900,000 (850)—
Pref stock 825,000,000 (850)1
6%
and bonds of other companies
OUTSTANDING (AS OP JULY 31
STOCK AND BONDS—
1919).
6 M-N
14,441,600 May '20.3%
5 M-S
1.442.450 Mar'20,2 H
20,000,000 Feb
1 1944
1919
5-6
Phil Co 1st & Col Tr M
1899
5 g M-S
stk,
—
500,000
Phil Co
g
con
(81,000)
...
4,745,000 Mch 1 1949
M & col tr 822,-1
1901
5
g
M-N
*14,506,000
Nov 1
1951
c*tf Continental Trust Co., Baltimore, Trustee.
810,000,000 gold] 1912
5 g M-N
9.794.000 May 1 1922
(81.000 or i'205 15s.2d)c*tf (New York Trust Co.
N
Y.. trustee.
Phila Co 3-year secured notes f 1919
6 g Fl-Al
10,000,000 Feb 11922
815,000,000 (8500&S1.000H
Union Trust Co., Pittsburgh, Trustee.
g
c*&r*tf (
Union Gas Co., McKeesport]
1899
5 g
205,000 Oct 1 1929
1st mtge guar p & i g s f._] Union Trust Co., Pittsburgh. Trustee.
j Interest at Mellon Nat. Bank, Pittsburgh.
Plttsb. & W. Va. Gas coll.] 1913
6 g A-O
600,000
See text
tr $1.500.000 (81-000)c*_tf lint, at Union Tr. Co., Pittsburgh, trustee.
Equitable Coke Co notes g\ 1919
6 g J-D
1,200,000
Serially
guar p & 1 by Phila Co.___J$300,000 due semi-ann. to Dec. 1 1921.
deb
....
*
This table does not cover such
further
proper*) js as are
separately reported
on.
Stock.—-Stock authorized was increased in February 1899 from $7,500,000
to
$21,000,000,
The increase
was
of which
$6,000,000
made to acquire the
was
5% non-cumulative preferred.
tock of the Allegheny Co. Light Co.
(acquired by Duquesne Lt. Co.), Chartiers Val. Gas Co. and the com. stock
of the Consolidated Gas Co.: also by exchange the United Trac. stock. On
Dec. 4 1901 stockholders auth. an increase to 836,000,000 through the issue
of $15,000,000 additional com. stock.
The increase was mainly for the pur¬
pose of acquiring the shares of the Consolidated Trac. Co. and the Southern
Traction Co.
V. 73, p. 1112.
In Aug. 1906 authorized common stock
was further increased to $36,000,000, mainly to provide for the purchase of
the Beaver Valley Traction Co. and Washington & Canonsburg Ry.
V. 82,
p. 1323.
July 22 1909 $5,000,000 additional common stock was auth. to
provide for the convertible feature of convertible debentures auth. at the
same time, but any shares not so used to be available for the general pur¬
poses of the company.
V. 88, p. 1314; V. 89, p. 225.
On Dec. 28 1915
authorized amount of com. stock was increased from $42,400,000 to $44,900,000, the new stock being issued to pay off floating debt.
V. 101
p. 1465: V. 102, p 68On Apr. 29 1912 shareholders voted to authorize $25,000,000 ($50) 6%
Of the new stock
exchange of existing preferred stock (upon basis of
share for share and a cash payment to the company of $2 50
per share,
and 810.000,000 for conversion of convertible debentures.
The remaining
$9,000,000 is reserved for future requirements.
See financial plan in
V. 94, p. 417, 488, also V. 94, p. 560.
Listed on the New York Stock
Exchange.
On Dec. 16 1918 the directors decided to issue $7,000,000
6% cum. pref. stock, $6,506,000 of which Ls to be issued in exchange for:
(a) Outstanding stock (other than that already owned by the Phila. Oo.)
of the Allegheny Heating Co. on the basis of 18 shares ($50 par) of the co.'s
pref. stock for each share of the Allegheny Co.'s stock; and (b) 1st M. 5s
of the Consolidated Gas Co. of Pittsburgh on the basis of 18^ shares
of the co.'s 6% pref. stock for each $1,000 bond.
Under this plan the
maximum prin. amount of the Allegheny Heating Co.'s stock which can
be exchanged is 2,090 shares (par $100), and the maximum prin. amount
of Consolidated Gas Co. bonds which can be exchanged is $5,000,000.
Up to Sept. 1 1919 the company had acquired all but seven shares of
stock and $122,000 par value of bonds.
All of the $7,000,000 6% cumu¬
lative preferred stock not issued or used for this purpose is to be used for
the general purposes of the company as the directors specify.
V. 108,
p. 683.
As of March 31 1914, when the original offer for exchange of
5% preferred stock for 6% preferred stock expired, $3,966,600 had been
exchanged, leaving $2,033,400 of the old preferred stock outstanding.
In
May 1916 further opportunity for exchange of stock to and including
July 15 1916 was given (V. 102, p. 1897) and holders of $590,950 stock took
advantage of the offer, leaving $1,442,450 old pref. stock outstanding.
Up
to Sept. 1
1919 $206,000 debentures had been converted into 6% cum.
pref. stock, leaving $9,794,000 outstanding as of that date, for the conver¬
sion of which a like amount of the 6% pref. stock is reserved.
The Philadelphia Company stock has been listed on the New York Stock
Exchange since October 1886, and is also listed on the Phila. Exchange.
See application to the N. Y. Stock Exchange in V. 70, p. 1198, and also in
"Chronicle" of Feb. 22 1902.
In March 1911 stock was listed on the Paris
Bourse.
V. 92. p. 726.
The Phila.Co in Jan.1908 offered to guarantee 4% per an. from Aug. I
1907 on the $2,000,000 pref. stock of Consol. Gas Co. (entitled to6% cum.),
provided additional earnings be divided equally between the two classes of
stock, but pref. not to receive more than 6% in any event.
Holders of 75%
of the $2,000,000 pref. stock having agreed to the proposition, the plan wa*
adopted.
V. 86, p. 54.605.
Bonds.—The bonds of 1899 are listed on the Phila. and Pittsburgh Stock
Exchanges.
Of the $22,000,000 bonds of 1901. $6,500,000 are reserved
to take up the $6,500,000 1st coll. trust bonds and $352,000 to acquire
pref. stock of Consol. Traction Co.
In 1918 the Brunot Island property
which was under the lien of this Mtge. was sold to the Duquesne Light Co.
and the proceeds ($4,000,000) deposited with the trustee of this issue.
$500,000 is to be used for additions to the property, and out of the bal¬
ance $1,526,000 bonds of this issue had been acquired and retired up
to
Sept. 1 1919, and the remainder is to bo used for the acquisition and re¬
tirement of additional bonds of this issue or invested in other securities.
They are free of Pa. State tax.
For security for the bonds see V. 102,
p. 801.
Listed on Phila. Stock Exchange.
Under a plan dated Feb. 27 1917 (see V. 104, p. 953) sinking funds were
established beginning Mar. 1 and May 1 1918, respectively, to retire and
cancel bonds by purchase or call, by applying thereto each year a sum equal
to 2% of the principal amount of such of the $6,500,000 outstanding 1st M
and Coll. Trust 5s due Mar. 1 1949 and of the $15,148,000 Consol. M. A
Coll. Trust 5s due Nov. 1 1951 as agreed to the plan.
Assenting bonds
are stamped as subject to call as a whole or when drawn by lot for tne sink¬
ing fund at 107K and int. for the 1st M. and 102H and int. for the consols.
$5,616,000 1st M. and coll. tr. 5s and $13,861,000 consol. M. and coll. tr.
5% bonds were so stamped, but $229,000 1st M. and coll. trust 5s and
$642,000 consol. M. and coll. tr. 5s have been canceled through operation
of the sinking funds, leaving $5,387,000 and $13,219,000, respectively
Stamped bonds have been listed on the Phila. Stock Exch., and application
will be made to have them listed on the N.Y. Stock Ex. In case the bonds are
called as a whole, they may be canceled or kept alive, as the co. may elect.
For security for the 1st & Ref. Coll. Tr. M. bonds, see Y. 108, p. 683.
cum.
pref. stock and 810,000,000 conv. debentures.
$6,000,000
was
additional
$10,000,000
notes,
are
pledged
reserved
$5,000,000 3-yr. notes,
reserved to be issued against the present properties, $9,794,May 1 1922, and $20,359,000
outstanding 1st M. and Cons. M. bonds.
These bonds may
also be issued par for par to retire
the outstanding funded debt of the
Duquesne Light Co.
The remainder of the auth. issue, together with any
bonds not required for the above purposes, may be issued for 66 2-3% of
the cost of add'ns and impts. made after Feb. 1 1919 to the gas, oil, or coal
properties of the co. and its subsidiaries, or for 85% of the cost of addn's
and impts. made after Feb. 1 1919 to the properties of the
Duquesne
Light Co. or other subsidiary electric light and power companies, but only
under certain restrictions.
V. 108, p. 579, 683.
The convertible debs, of 1912 are convertible Into pref. stock at any time
$5,000,000
are
000 to retire the co.'s 5% conv. debentures due
to retire the
of $20,000,000 1st
the ratio of 200%
outstanding.
Additional notes
may be issued only when secured by 1st Ref. & Call Trust M .5s in a like
ratio.
Sinking fund provides that $400,000 per annum be applied to the
retirement of these notes by purchase or call.
Should the additional $5,000,000 of notes be issued the amount applicable to the retirement of these
notes is increased to $600,000 per annum.
Fully registered notes are issu¬
able only in $1,000 denom.
Red., all or in part, on any date upon 60 days'
notice at 101 and int. prior to Feb. 1 1921; and at 10043 and int. on and
after Feb. 1 1921.
Free from Penna. State tax.
Interest is payable in
New York, Boston, Chicago and Pittsburgh.
V. 108, p. 579.
The Pittsburgh & W. Va. coll. trust 6s mature $i5(J,U00 each Oct. 1
of bonds pledged
to the face value of notes
1914 to Oct. 1 1923 incl.
No s. fd., but subj. to call, any part
all. on any int. date at par and int. on 30 days" notice.
Guar. p. & 1. by
Philadelphia Company.
$900,000 retired.
Two-year 543% coll. g. notes.—Issued to (a) refund $2,000,000 Coll. Trust
or
§old notes, due May 1 1917; (5)Mar. 31 $650,000 funded debt the treasury in
uring the fiscal year ending refund 1917; (c) reimburse which matured
part for capital expenditures made during the year; (rf) provide
$3,000,000
for the capital requirements of the Duquesne Light Co.
Secured by de¬
posit of $8,400,000 common stock of Duquesne Lt. Co.
V. 104, p. 1490.
c*._tf (Maryland Trust Co., Baltimore, Trustee.
000.000 g (81,000)
Oonv
3-yr.
security for the remaining auth.
as
from Oct. 1
Outstanding. Last din.,&c
842.943,000 Apr '20, IX
f
cum
5% non-cum (850)
1st Ref & Coll Tr M 8100,-1
000,000, gold.
J
Pref
$10,000,000
V. 95, p. 891, 1473.
Three-Year Secured Notes.—Are secured by a pledge
& Coll. Trust M. 5s due Feb. 1 1944, being in
treasury of Philadelphia Co.), are
bonds of 1901, and these latter
the
issued
be
to
Ref.
mortgage, and collateral trust
(with the exception of 39,646
and 157 shares Consol. Trac. pref. held in
common
Of the $100,000,000 auth. amount $20,000,000 have been issued and
under
after Jan. 31 1913 at par.
Up to Sept. 1 1919 $206,000 had been converted.
Red. at 10243 and int. on any int. day on 45 days' notice.
Int.. payable in
N.Y. and London.
Debs, are listed on N. Y. and Phila. stock exchanges.
trustee under the first
1899.
Those marked y
dated
shares
107
RAILWAYS
DIVS.—
I
'95. '96. '97. '98. *99. *00. '01. '02-'09. '10. '11. '12.
'13.
None
4
443
5
543 6% y'ly
7
7
6 43
7
for the com. stock.
The old 5% non-cum. pref.
was created in 1899. and first semi-ann.
paym't of 243 % was made in Sept.
1899 and have been regularly continued since then.
1st div. on new 6%
cum. pref.—3%—paid May 1
1913; same amount semi-ann. since to and
incl. May 1920.
On com. In 1914, Feb., 1 %%: May, 194%; Aug., 143%.
The Nov. div. was paid in scrip bearing int. at 7%.
The Feb. 15 1916
div. was also paid in scrip (V. 100,p. 141).
Both series of scrip were called
for payment on Feb. 1 1916 at par and int. V. 102. p. 345.
In May 1915
a cash div. of 143% was paid; Aug.. 1 43%: Nov .1 t^%
In 1Q16. 643%.
In 1917, 7%,
In 1918, 6%.
In 1919, 6%.
In 1920, Jan., 143%: Apr.,
Percent
The
*
\
5
foregoing divs.
^Linear
are
Tax Decision.—For decision of Supreme Court of
declaring the linear tax ordinance invalid, see V.
Pennsylavnia,
80.jp. 1729.
Application Denied.—Attorney-General Todd of Pennsylvania on Oct.
24 1907 denied the application of city authorities of Pittsburgh for permis¬
sion to bring quo warranto proceedings to forfeit the company's charter,
see V. 85, p. 1083.
REPORT.—Report for cal. year 1918 and years ending Mar. 31: (Phila¬
delphia Co., Equitable Gas Co., Monongahela Natural Gas Oo . Pittsburgh
& West Virginia Gas Co., The Philadelphia Co. of W. Va. and the Phila¬
delphia Oil Co.)
Transactions between cos. eliminated. Fiscal year changed
in 1918 to end Dec. 31.
Report for 9 mos. ending Dec. 31 1918 in V. 108,
p. 2429.
A
CaLFr.1918.
1
Receipts—
From gas
From oil
113,109,967
1917-18.
1916-17.
($9,171,612
11,332,4401
1
J
1915-16.
$7,990,132
(a)
(a)
_
38,536
38,387
Gross earnings..
$13,109,967 $11,332,440
Operations, taxes, Ac..
6,661,318
5,881,970
$9,210,148
4,093,992
$8,028,619
3,405,046
$6,448,649
2,119,029
$5,450,470
2,030,163
$5,116,156
a2,405,997
$4,623,473
a2.192,968
406
693
608
386,566
650
693,275
424,192
464,471
$8,954,651
$8,174,558
$7,947,038
$7,281,520
$21,558
2,097,992
1,269,307
(381,113
177,086
177,895
$22,047
2,131,868
1,207,583
282,633
$23,086
1,796,499
1,215,180
153,497
$22,566
1,906,825
802,167
163,770
162,000
154,236
57,500
235,450
64,965
386,268
$4,124,952
$4,829 699
74,076
$3,960,367
$4,214,191
74,076
$3,481,212
$4,465,826
74,076
$3,346,561
$3,934,959
Miscellaneous
Net earnings
Divs. and int. receivedRents
Interest, discount, Ac..
for
Total income...
Deduct—
Paid leased companies..
Interest on bonds, Ac..
New wells, lines, &c
Depreciation of property
Discount, taxes, &c., on
securities sold
...
Interest, discount, &c__
Total
i.
Balance for year
_
Consol. Gas guaranty...
Div. on pref. stocks
Div.
on com.
L__
Total
$3,127,183
$1,702,516
Surplus for year.
a
,1^,576
476,743
477,519
476,644
471,966
stock..(6%)2,576,364(6^)2898427(7)3,005,772 (6)2,363,364
$3,450,022
$764,169
$3,556,492
$909,334
Income from oil in 1916-17 and 1915-16 is Included in
$2,912,906
$1,022,053
"Divs and Int.
Oil Co.
Results
1917, were: Gross, $368,527: total net
income, $254,638; deductions, $71,448: divs. (5%), $100,050; surplus. $83,139;
In 1916: Gross, $277,273; total net income, $198,873; deductions,
$56,936; divs. (5%), $100,050; surplus, $41,887.
received" in the form of dividends on stock of the Phila.
of that co.
for year end. Mar. 31
LATEST EARNINGS.—For 12 months ending Dec.
Gross
31:
—
Department—'
1919.
1918.
Duquesne Lt. Co. & sub.
elec. lt. & pow. cos_a_$ll,917,566 $11,213,621
Net
1919.
1918.
$4,139,671
Beaver Val. Trac. Co.a.
608,331
520,380
106,211
$3,769,210
60,679
Equitable Coke Co.a...
Philadelphia Co. & sub.
891,433
1,246,863
217,809
272,584
12,397,690
13,051,661
4,385,404
6,135,679
Philadelphia Oil Co_a__
1,383,082
914,203
1,196,097
727,753
a Net earnings here given
are after the deduction of taxes.
Note.—The above earnings do not include income from investments,
and is before providing for interest on debt and other income deductions.
natural
gas
cos.a....
OFFICERS.—James D. Callery, Chairman of the Board; James II. Reed,
Pres.; James D. Callery, V.-P.; C. J. Braun Jr., Treas.; W. B. Carson, Sec.;
Comp.: Carroll Miller, Gen. Mcr.
Office, 435 Sixth Ave.,
Pittsburgh, Pa.—V. 108, p. 579, 68-3, 1611. 1937, 2123, 2241. 2330, 2429,
2630; V. 109, p. 173, 1180, 1700, 2263, 2357; V. 110, p. 78, 770, 1290.
C. S. Mitchell,
RAILWAYS.
STREET
(1)
Pittsburgh Railways Co.—A trolley road.
Receivers Appointed.—On April 23 1918 H. S. A. Stewart, J. D. Callery
C. A. Fagan (subsequently MOssrs. Stewart and Callery resigned and
and
W. D. George and S.
La Rue Tone are now serving in their places.
p. 2377; V. 108, p. 80) were appointed receivers for this co. upon
of the American Brake Shoe & Foundry Co. and the St. Louis
V. 107,
application
Car Co., it
being alleged that revenues were insufficient to meet maturing obligations
and that there was immediate danger of the system being dismembered by
bondholders of the underlying corporations.
V. 106, p. 1797.
In March 1920 the receivers applied to the U. S. Court for auth. to pur¬
150 new cars at a cost of about $2,000,000, through the issuance of
chase
receiver's certificates secured by a car trust covering the new cars and cer¬
tain of the cars now in use.
V. 110, p. 1415.
Suit of Foreclosure.—The Union Trust Co., as trustee for the $4,000,000
1st M. coll. tr. 5s of the old Southern Traction Co., was auth. on
May 29
1919 by Judge Chas. P. Orr in the U. S. Dist. Court to foreclose and to take
the lines
(embracing all lines to the West End) out of the receivership and
operate them
separately.
Both the city of Pittsburgh and the receivers
opposed this petition, and it is understood that an appeal will be taken to
the U. S. Supreme Court.
V. 108,
p.
2331.
Compare V. 108, p. 1512.
ELECTRIC
108
Default—Subsequent Payments.—The company failed to pay the Jan. 1
subsidiaries and the directors of
Philadelphia Co., which was already a creditor of the Railways Co. for
a large amount,
refused to make it further loans.
All the .Jan. 1 1918
coupons, except on the United Traction 5s, were paid in March 1918.
1918 interest on the bonds of a number of
the
V
106, p. 930,
1232.
officially informetjjhat on Sept. 1 1919 the company was
payment of interest on the bonds of the following sub¬
sidiary companies.
We give in each case the earliest coupon in default.
Since then, however, some of the defaulted coupons have been paid. Where
we have had announcement to that effect we indicate the fact by prefixing
an asterisk (*) to the name of the company in the following:
_
r
We have been
in default in the
Due Feb. 1 1919.
♦Bloomfield St. Ry. Co.
Brownsville Avenue St. Ry. Co.
♦Washington Electric St. Ry. Co.
Due Jan. 1 1918.
United Trac. Co. of Pittsburgh.
Due July
19l8.
1
♦Second Ave. Trac. Co.
Due
Oct.
East
Dec.
♦Coraopolis & Neville Is. Bridge Co.
♦The Suburban Rap.Tran.St.Ry.Co.
♦Wilkinsburg&East Pittsb.St.Ry.Co.
Due April
1918.
1
.
Due
Dec
1918.
2
♦Morningslde Electric St. Ry. Co.
♦Mt. Washington Street Ry. Co.
♦Pittsb. Allegh. & Manch.Trac. Co.
♦Pittsburgh Traction Co.
1919.
1
♦Allegheny & Bellevue St. Ry. Co.
♦Allegheny Street Ry. Co.
Date.
Interest.
Outstanding.
Maturity.
$2,500,000
$2.500.000($50)
2,500,000
Gen mtge, $20,000,000, redl
1913
5 A-O
2,539,000
1953
at 105 & intguar p & i__tfj
Guaranty Trust Co., N. Y., trustee.
Income debs. $10.000.000—tf 1913
10.000.000
I9ll
5 M-S
54,000
See text.
Oar trusts $270,000 ($1,000), Int. at co.'s office.
Fidelity Title & Trust
tf
Co., Pittsburgh, Trustee.
1913
6 M-S
228,000
See text
Car trusts $450,000 ($1,000), Int. at co's office, Fidelity Title & Trust Co.,
STOCK AND BONDS—
Com.
♦Duquesne Traction Co.
'
Mt. Oliver Incline Ry. Co.
Due
Jan.
1919.
1
Bonds.—Of the gen. mtge. bonds, $4,000,000 are to retire
Monongahela Street Ry. Co.
Pittsburgh Incline Plane Co. 2d Mtg.
Wilkinsburg & Verona St. Ry. Co.
♦Pittsburgh & West End Pass.Ry.Co
♦Perry Street Railway Co.
♦Troy Hill Pass. Ry. Co.
♦West Liberty & SuburbanSt.Ry.Co.
♦Washington & Canonsburg Ry. Co.
♦West End
Due June 2 1919.
♦Fort Pitt Traction Co.
Due July 1 1919.
Pittsburgh Incline Plane Co.
Traction Co.
The company is
also in default in the payment of the following and subse¬
quent rentals due subsidiary companies:
Due May 10 1919.
Due July 15 1918.
Fed.
St.
Pleasant
&
Val.
Pass.
Citizens Traction
Ry
Due Nov. 1 1918.
Consolidated Traction Co.
Due
Jan.
1
been retired.
Due
Feb.
1
Traction
Co.
default
&
Pittsb.
Nov.
on
1918
1
Committee.— See
Committee for Southern Trac. Co. Is! M
C. McEldowney, Jas. C. Chaplin, F
Castle
rental,
Shannon
but
same
Uni ed
&
Coll.
Traction
RR.
was
Co.
R.
Tr. 5s.—T.
Co.
subse¬
of
Pitts-
Welsh, and
R,
H. Given,
S.
Wilson,
Depositaries: Union Trust Co., Pittsburgh, Pa.; Farmers Deposit
Trust Co., Pittsburgh, Pa.: Fidelity Trust Co., Philadelphia, Pa.
have been called for.
V. 108. p. 785. I
Deposits
1918 the P. S. Comm. appointed
valuation of the co.'s properties and
yield it a fair return on its investment.
In Aug. 1918, under
orders from
the P. U. Comm., the receivers ap¬
pointed a board of three (A. J. Kelly, Ilenry P. Haas and J. W. Cree) to
make the valuation. V. 107, p. 697. According to the report to the P. S.
Comm. in Aug. 1919, physical value of the co. in the opinion of engineers
for the city is $48,000,000. and in the opinion of engineers for the co. either
$60,889,804 or $70,120,804.
V. 109. p. 776. 1367.
In March 1920 the
P. S. Comm. fixed $62,500,000 as the value of the co.'s property, this being
a compromise between the above mentioned valuations.
V. 110, p. 1290.
Valuation
a
Board
Created.—In
March
committee to ascertain the physical
to recommend fare rates which will
This was formerly the Southern Traction Co.. but in accordance witn the
authority vested in It by the terms of Its charter, the directors of the South¬
ern
Traction Co.
on
Dec. 30 1901 voted to change the name of the company
to the
Pittsburgh Railways Co.
The Philadelphia Company had previously
acquired all the stock, common and pref., of the Southern Traction, in
accordance with the terms In V. 73, p. 1112.
The Southern
Traction Co.
and operate the West End
was
chartered In
1900 Jto take over, extend
Traction lines, which were purchased in Aug. 1900
for $4,600,000.
Leases the Pittsburgh & Castle Shannon RR. for 99 years, rental being
$15,000
per
annum.
$1,500.000
Underlying loans of West End Traction—
Pittsburgh Crafton & Mans-J 1894
5 J-J
176.000 July 1 1924
field 1st M
tf\ Int. at Pittsburgh Trust Co., Pittsburgh.
Pitts & West End 1st M
tf 1892
5 J-J
343.000 July 1 1922
Bonds.—The
Southern
Traction mortgage cannot
be called before
maturity.
Philadelphia Company owns $24,000.
The Farmers' De¬
posit
National
Bank
of
Pittsburgh
offered
the
bonds
for sale
in Oct. 1900.
See V. 71. p. 864.
Of the portion of the 5s of 1898 of
the West End Traction still unissued. $519,000 are reserved to retire under¬
"
"
2,000
See
V. 81.
p.
778.
"
"
"
"
Ambridge Dixmont & Emsworth St.Ry.Co.
Ben Avon & Emsworth St. Ry. Co.
80
"
"
"
Cedar
600
"
"
"
6,000
30.000
"
"
"
"
1,690
1,400
50.000
"
"
"
"
"
*
"
"
"
"
200
"
"
"
"
"
Avenue St
Ry.
Clalrton Street Ry. Co.
"
"
24
"
"
"
"
"
480
"
"
Co.
East McKeasport Street Ry. Co.
Mt. Washington Street Ry. Co.
Pittsburgh Canonsburg & Wash. Ry. Co.
Pittsburgh Express Co.
Pittsburgh & Charleroi St. Ry. Co.
Rosslyn Street Ry. Co.
Superior Ave. & Shady Ave. St. Ry. Co
Tustin Street Ry. Co
"
20,000
"
80
Washington & Canonsburg Ry. Co.
Washington & Claysville Street Ry. Co.
West Shore Electric Street Ry. Co.
Virginia Avenue Street Ry. Co.
McKees Rocks & Ingram St. Ry. Co.
"
"
McKees Rock* & Neville Tsl. St. Ry. Co.
300
120
"
"
Crafton & Chartlers Valley Tract. Co.
400
"
"
"
Pitts. Banksvllle» Mt. Lebanon S. R. Co.
100
"
"
"
Carnegie Bridge Co.
120
"
"
"
West Liberty & Suburban St. Ry. Co.
160
"
"
"
McKees Rocks & Allegheny Street Ry.
174
"
"
"
Bon-Air Street Ry.
120
"
"
"
Clairton & Blair Street Ry. Co.
168
"
"
"
Pine Run Street Ry. Co.
Also owns 100 shares pref. stock of the Consolidated Traction Co.
By the terms of an operating contract, effective Jan. 1 1902, the Pitts¬
burgh Rys. Co. assumed control of all the properties of the Consolidated
Trac. Co., the United Trac. Co. of Pitts, and their underlying companies.
Street Car Subway Loop.—On July 8 1919 voters of Pittsburgh authorized
a $6,000,000 bond issue for the construction of a down-town subway loop.
V. 109, p. 371.
Compare V. 108. p. 2330.
Over-crowding Ordinance.—On Feb. 7 1911 Common Pleas Court No. 1
rendered a decision restraining city from entering or prosecuting any suit
upon so-called over-crowding ordinance, enacted July 30 1910. V.92, p. 463.
Decision.—For decision by Pa. Supreme Court, holding that city cannot
collect tolls for use of Point and Smithfield St. bridges, see V. 96. p. 1090.
Fare Decision.—In July 1918 the Penna. P. S. Comm. held that the
State constitution does not auth. municipalities, through contracts with
railway cos., to take away from the people the right to regulate fares.
This
decision was handed down in the case of the Borough of Wilkensburg against
the co. based on its notice of proposed increases in rates. V. 107, p. 402.
See also V. 109, p. 477.
500
"
"
120
"
"
400
"
"
West Liberty & Sub. St. are guaranteed by
they are not subject to call, and have no sinking fund.
Bonds of the
,
31
owned, controlled and operated by
ending
1918.
1918.
1917-18.
1918.
1917-18.
470,454
642,953
earns..10,979,416 13,907,890 interest
2,895,352
(aft. taxes) 1,483,588
3,094,064 Rent, l's'd line 2,115,190
1,184
152,414
83,115
128,989 Misc., &c
Total income. 1,566,703
3,223,053 Balance, def.. 1,020,125
467,665
From the deficit as above in 1917-18 ($467,665), there were added disc't
on securities sold, $3,401; deferred account, portion written off, $91,278,
and extraordinary expenditure for impts., &c., $8,189, making a total
deficit for the year of $570,533.
Latest Earnings.—See Philadelphia Co. above.
ROAD.—-The Pittsburgh Railways Co. operates 605.25 miles of track in
Pittsburgh and outlying boroughs.
Equipment consists of 1,441 closed
cars, 371 open cars and 235 miscellaneous cars.
Has long-time contract
with Duquesne Light Co. for supply of light and power.
OFFICERS.—Chairman of Board, J. D. Gallery; Pres., Arthur W.
Gross
"
"
"
"
"
■
R. Reed: Gen. Mgr.. P. N. Jones; Sec.. W. B. Carson;
Thompson; V -P., J
Treas., C. J. Braun Jr.; Comptroller, C. S. Mitchell.—V. 109, p. 888, 982,
1367; V. 110, p. 78, 262, 465, 562, 651, 872, 971, 1290, 1415.
'
Street Ry.—A trolley road.
Mount Washington
(a)
ORGANIZATION.—Incorporated in Pennsylvania on Oct. 8 1901 and
the Sycamore Street Ry.
Also owns the entire ($500,000)
capital stock of the Mount Washington Tunnel Co.
Stock of the Mount
Washington Street Ry. is owned by the Pittsburgh Rys.
The road is
leased to the Pittsburgh Railways Co, for 995 years from April 1 1903 for
all charges. Including bond Interest.
later absorbed
STOCK AND BONDS—
Stock. $1,500,000 ($50)
1st
mortgage
and
col
Interest.
Date.
tr.f
5 g A-O
1903
Maturity.
$1,500,000
1,500,000 April 1 1933
Outstanding.
$1,500,000, gold ($1,000),]Penn. Co. for Insurances on Lives Sc Grantprin and Int
c*_tfI
ing Annuities, Philadelphia, Trustee.
are guaranteed,
principal and interest, by endorsement, by the
guar,
Bonds
Philadelphia Co.
Interest payable in New York, Pittsburgh and Phila¬
delphia.
No sinking fund and bonds cannot be called.
The stock of the
Tunnel Co. has been
pledged as collateral under this mortgage.
See
V. 76. p. 1143.
The following stocks (being In each case the entire Issue) are owned:
50,000 shares common stock of the West End Traction Co.
60,000
"
preferred stock of the West End Traction Co.
340,000
"
common stock of United Traction Co. of Pittsburgh.
58,999
"
preferred stock of United Traction Co. of Pittsburgh.
5.000
"
common stock of Allegheny Bellevue & Perrysville Ry. Co
300
"
"
"
Allenport & Roscoe Electric St Ry. Co.
120
Rys. Co
Other income.
urgh below.
Sec'y
gen
Net
occurred
Protective
Maturity.
Pittsburgh Railways Co. for 9 mos. ending Dec. 31 1918 and year
quently paid.
Bondholders'
Outstanding.
5 g J-J
$250,000
Jan 1 1938
Colonial Tr. Co., Pittsb., trustee.
$4.-f 1900
5 g A-O
4,000,000
Oct 1 1950
c*.tf lint, at Union Tr. Co.. Pittsburgh, Trustee.
M,f 1898
5 J-J
981,000
Jan 1 1938
tf I Int. at Union Tr. Co., Pittsburgh, Trustee
000,000 ($1.000)
End Traction
West
March
Due Aug. 1 1919.
Co.
Duquesne Traction Co.
Pittsburgh Traction Co.
xFirst
1908
ANNUAL REPORT.—All companies
Pittsburgh & Birmingham Trac. Co.
Suburban Rap. Tran. St.
Ry. Co.
Washington & Canonsburg Ry. Co.
Due April 10 1919.
Allegheny Traction
Sept. 1 1925 incl.
8o Trac 1st M. coll tr, g,
Pitts
Due July 1 1919.
1919.
1914 to
Interest.
Date.
Liberty & Sub. St. lstl
lying bonds.
Mt. Oliver Incline Ry. Co.
^Pittsburgh Incline Plane Co.
Central
Co.
Due June 1 1919.
Monongahela St. Ry. Co.
The Suburban Rap. Tran. St.Ry.Co.
Car trusts of 1913 mature Mar. 1
M $250,000 ($1,000) g
tf I
Int. at
Debt of Old Southern Trac. Co.—
West Braddock Br dge Co.
1919.
Southern Trac.
$3,461,000 in treasury) are for extens..
V. 97, p. 444, 666.
Are guaranteed,
principal and interest, by Philadelphia Co.
Philadelphia Co. owns $571,000
of Gen. M. 5s outstanding and the $10,000,000 income debentures. Oar
trusts of 1911 mature $27,000 annually Mar. 11913, to 1922. $216,000 have
bonds and $13,461,000 (of which
and improvements.
Guaranteed Bonds—
Due June 1 1919.
♦Pittsburgh Crafton & Mansfield St.
Ry. Co.
1910
5 A-0
66,000
iSee text
Colonial Trust Co., Pitts., Pa., trustee.
j
West
Pittsburgh & Birmingham Trac. Co.
Pittsburgh & Charleroi St. Ry. Co.
West Braddock Bridge Co.
Pitcairn & Wiimerding St. Ry. Co.
Pittsburgh, Trustee.
tf
Car trusts $110,000 ($1,000).,i
♦Miilvale Etna & Sharps. St. Ry.
♦Federal St. &
Pleasant Valley Pass.
Ry. (Gen. and Consol. Mtges.)
stock, $2,500,000..($50)
Pref. 5%,cum,
$222,000 have been retired.
Car trusts of 1916 mature $11,000 annually
April 1 1917 to 1926.
$14,000 have been retired.
Side Passenger RR. Co.
Due May 1 1919.
♦South
♦Central Traction Co.
V. 108, p. 2630.
See also V. 110, p. 1290.
Rates.—In Sept. 1918 filed with the P. S. Comm. a new schedule provid¬
ing for increased power rates effective Dec. 17 1918.
Wages.—V. 109, p. 677, 888, 982; X. 110, p. 1415.
Strike Settlements.—V. 109, p. 982.
Compare V. 109, p. 888.
sold at the rate of 4 for 30 cents.
betterments
♦Citizens Traction Co.
♦Port Pitt Trac. Co.
Due Jan.
1 1919.
♦AJlegh. Bell. & Perrysville Ry. Co.
♦Ardmore Street Ry. Co.
♦Central Passenger Ry. Co.
McKeesport St. Ry. Co.
Highway Bridge Co.
♦Glenwood
Penn Street Railway Co.
7-cent day fare on some of the longer routes and a universal 10-cent night
fare.
For complete details of this schedule see V. 106, p. 2650, 2758.
Effective Aug. 1 1919. the co. increased fares to 10 cents, tickets being
1
Charleroi & West Side St. Ry. Co.
Ry.Co.
Pittsburgh Rys. Co.—Gen. Mtge.
Southern Traction Company.
Fares.—On May 19 1918 the receivers announced the establishment of a
fare schedule which went into effect on June 20 1918, providing for a
new
—
1919.
Traction Co.
♦Ben Avon & Emsworth St.
Due
1
♦Birmingham,Knoxville & Allentown
1918.
1
Mar.
Due
Due Sept. 1 1918.
Charleroi & West Side St. Ry. Co.
[Vol. 110.
RAILWAYS
12.737 miles of track from Plttsbureh to
Gauge, 5 ft. 2M inc.—V. 80, p. 222; V. 108, p. 379.
ROAD.—Operates
Lebanon.
Mount
(b)
Washington & Canonsburg Ry.—A trolley road.
Default and Subsequent Payment.—See Pittsburgh Railways above.
Stock all owned by Pittsburgh Rys.
ORGANIZATION.—Incorporated In Pennsylvania on June 2 1902.
on June 2 1902 to the Washington Electric Street Ry.
In Jan.
1909 Pitts. Rys. began operating the property.
Franchises perpetual.
Leased in 1907 the Pitts. Canonsburg & Wash. St. Ry.
Successor
First
mortgage
5 g
Maturity.
$1,000,000
125,000 Feb
1 1927
5 gJ-J_
_
Interest
Date.
STOCK AND BONDS—
Stock $1,000,000 ($50)
Wash Elec St Ry 1st M.
1897
$650,000( Int. at
1902
Outstanding.
470,000 July_1 1932
Colonial Tr. Co., Pittsburgh, Trustee
c&r tf
1913
5 J-D
185.000 Dec. 1 1943
$500,000
($1,000); red at 102 & int Int. at office of co. or Colonial Trust Co.,
on 10 weeks' notice
Pittsburgh, Trustee,
tf
Bonds.—On 1st mtge. bds. a sinking fund of $5,000 per annum becomes
operative after 5 years; $55,000 have been canceled. $125,000 of the new
bonds are reserved to retire the bonds of the Washington Electric Street Ry
gold
Second
mortgage
The 2d mtge. bonds outstanding are
owned by Pittsburgh Rys. Co.
ROAD.—Operates 12.737 miles in and between Washington, Tylerdale
85, p. 532; V. 87, p. 348; V. 88, p. 626; V. 106, p.. 88
and Canonsburg.—V.
(c)
Pittsburgh Canonsburg & Washington Ry.
Default and Subsequent Payment.—See Pittsburgh Railways above.
was leased for 30 years to the Washington
Canonsburg Ry.. which guarantees bonds, principal and interest.
ORGANIZATION.—In 1907
&
Date.
Interest.
Outstanding.
Maturity.
owned by Pittsburgh Rys.).
f 1907
5 J-J
$750,000 July 1 1937
IstM. $750,000 ($1,000) gold(Safe Deposit Trust Co., Pitts., trustee.
Int
STOCK AND BONDS—
Stock (1,590 shares, all
tf I
at company s
office, Pittsburgh.
Second
mtg $500,000
($1.-! 1913
5 J-D
89,000 Dec. 11943
000); red at 102 & int on(Int. at office of co., Pittsb., or Safe Deposit
10 weeks' notice.
tf!
& Trust Co., Pittsb., Trustee.
Bonds.—1st mtge. bds. are redeemable at 105 and int. on any int. date;
guar.,
p.
& L, by Washington & Canonsburg Ry. and Pittsburgh Rys.
bonds outstanding are owned by Pittsburgh Rys. Co.
Second mortgage
ROAD.—Operates
Castle Shannon.
12.02
miles
of
track
between
Canonsburg
and
80-lb. rails.—V. 106, p. 87, 1231; V. 108, p. 2630.
Other Controlled
Properties.—Bonded debt.
Under date Dec. 1 1913 the following named companies controlled by the
Pittsburgh Ry. Co., as shown above filed mortgages to secure issues of
1st M. 5% gold bonds (int. J. & D.cHf) due Dec. 1 1943 (par $1,000) but
callable, all or part, at 102 and int. on 10 weeks' notice.
The outstanding
amount in each case is owned by the Pittsburgh Rys. Co.
(d)
Apr., 1920.)
109
Name of Company—
Total Auth.
$40,000
100.000
West Shore Elec. St. Ry. Co
100,000
Superior Ave.& Shady Ave.St.Ry- 65,000
Ailenport & Roscoe Elec. St. Ry._500,000
Cedar Avenue St. Ry. Co
Bon Air Street Ry. Co
Total Issued.
Trustee.
$39,000
Col. Tr. Co., Pittsb.
45.000
Col. Tr. Co., Pittsb.
85,000
Col. Tr. Co., Pittsb.
05,000
Col. Tr. Co., Pittsb.
127,000
Union Tr. Co..Pitts
8TOCK AND BONDS—
Date.
Stock (par $100) full paid—
mtge ($1,000 each)._.c*tf 1889
ROAD.—Road extends from Forty Hill. Pittsburgh, on Bradford Street,
1896, and in June
1897*
through a lease for 950 years and the purchase of its stock.
V. 65, p. 27.
The Federal St. & Pleasant Valley Passenger Ry. is controlled
through Its lease for 950 years to the North Side Traction.
In 1902 leased
the Pittsburgh & Birmingham Traction Co., East McKeesport Street Ry.
and the Pittsburgh & Charieroi Street Ry.
,
In March 1899 the Philadelphia Co. offered to give $6,375,000 of its com¬
mon stock in exchange for the $17,000,000 common stock of the
United
Traction.
See V. 68, p. 479.
In Oct. 1899 exchange of stock under this
plan was begun and all shares have been acquired and are now owned by
Pittsburgh Railways.
/
On Jan. 1 1902 the Pittsburgh Railways Co. took over this property,
and, under the terms of the operating contract, agrees to pay current divi¬
dends of 5% on the pref. stock.
The agreement was until Jan. 1 1907 and
thereafter until terminated by three months' notice from either party.
The Jan. 1915 and subsequent divs. on the pref. stock were passed.
In
Feb. 1917 the management offered to each pref. shareholder of the United
Traction Co. 66 2-3% of his holdings In a 5% mortgage bond of the Pitts¬
burgh Rys. Co., to be guar., p. & 1., by the Philadelphia Co.; or, as an
alternate proposition, $25 in cash for each share of stock (par $50).
V. 104,
p. 665, 1389.
59,029 shares were acquired.
STOCK AND BONDS—
Date.
Interest.
Outstanding. Div.or Mat
Com stock, $L7,000.000 ($50).
J-J
*$17,000,000 July'12,>*%
Pref, cum, $3,000,000 ($50)
5 J-J
3.000,000
See text
United
Trac
gen
m,
gold,? 1897
5 g J-J
4.804,000 July 1 1997
$10,000,000 ($1,000) _.c*tf [Maryland Trust Co., Baltimore, Trustee.
Interest is payable in New York City.
Pitts Alleg & Manchester-_tf
5
1,500,000 Oct
1 1930
Second Ave Trac mtge,
($1,000)
gold]
1894
2,026,000 Dec
5 g J-D
I 1934
ORGANIZATION.—Incorporated April 19 1902 and took
c*_tf (Maryland Trust Co., Balto., Md., Trustee.
Brown & Sons. Baltimore.
tf 1893
6 J-J
419,000 July 1 1933
-
1,585.671
Loans payable Dec 31
1918
*
All owned by Pittsburgh Rys. Co.
The United Traction receives the entire
STOCK AND BONDS—
Date.
Stock $2,500,000 ($50)
Charieroi & West Side 1st M.tf
Pitts & Charieroi 1st M $2,-/ 1902
of
1914,.
Jan.
above.
& Int.
months to and including J*an. 1912.
Bonds.—The new United Traction
bond's
more
cannot
In
July 1912,
H.%i
sional bonds above
mentioned.
Bonds
listed
are
on
the Philadelphia and
Outstanding.
5%
5 g M-N
Pittsburgh, Trustee.
,
outstanding
ROAD.—Operates
a
owned by Pittsburgh Rys. Co.
are
road between Pittsburgh and Ailenport, by way of
and Charieroi, a distance of
Castle Shannon, Finleyvilie, Monongahela City
43.38 miles.
Completed in Sept. 1903.
OFFICERS.—Pres., S.
Braun Jr.—V. 74. p.
(d)
Allegheny
L. Tone;
Sec.. W.
1039. 1090; V. 76, p. 752.
Bellevue
J.
Ry.
Perrysville
&
B. Carson; Treas., O.
ORGANIZATION.—Incorporated In Pennsylvania on Feb. 8 1900.
En¬
tire stock is owned by the Pittsburgh Rys.
Is leased to the United Traction
Co. for 995 years from March 1 1905 at a rental of 10% on the stock,
STOCK AND BONDS—
Date.
Stock $250,000 ($50).
1st mtge $500,000 gold guar/
1905
Interest.
Outstanding.
Maturity.
10%
$250,000
See text
5 g A-0
500,000 April 1 1935
—ctf (Penn. Co. for Ins. on L. & G. A.,Phil.,Trust.
($1,000)
Bonds.—Are guaranteed, prln. & Int.,
at
company's office
ing fund and bonds
by Phila. Co.
Interest is payable
No sink¬
by Brown Bros. & Co., N. Y. and Phila.
subject to call.
or
are not
ROAD.—Operates 16.67 miles of track from Allegheny, via Westvlew. to
Gauge, 5 ft. 2H in.
Bellevue.
Ben
(e)
Avon
<5c
Emsworth
Street Ry.
in Pennsylvania
ORGANIZATION.—Incorporated
on
June
17
1903.
Entire stock is owned by the Pittsburgh Rys.
Is leased to the United Trac¬
tion Co. of Pittsburgh for 995 years from April 1 1906 at 5% on stock.
Dale.
STOCK AND BONDS—
Stock $100,000 ($50)
1st mortgage $300,000
gold f
Interest.
1906
A-0
5 g
Outstanding.
Maturity.
$100,000
See text
300,000 April 1 1936
„_tf]Fidelity Title & Trust Co., Pittsb., Trustee.
[Interest
,
M
2d
at Co's. office.
$100,000 ($1,000) sub [1913
call at 102 and int on 10{Int. at
weeks' notice
tf I
«...
5 J-D
79,000 Dec 11943
co's office or Fidelity Title & Trust
Co., Pittsburgh, Pa., Trustee.
are guaranteed, prln. and Int., by the Philadelphia
2d M. bonds outstanding are owned by Pittsburgh Rys.
Bonds.—1st M. bonds
Co.
N(
lone since.
mortgage is limired to
$10,000,000
befpre maturity; Maryland Trust Co. of BaitOf these bonds, $5,196,000 are reserved to retire the divi¬
be redeemed
is trustee.
10 weeks' noticetf
on
Second mtge. bonds
annually were paid to
passed.
V. 100, p. 55.
None since.
See
%% paid .July 2 1903 and >4% each six
common.
Interest.
Bonds.—Of the Pittsb. & Charieroi 1st M. bonds, $55,000 is reserved to
a like amount of Charieroi & West Side bonds.
See V. 74. p. 1039.
to
1915 div.
On
ar-
retire
$259,800.
Dividends.—On preferred divs. at the rate of 5%
July
remarks
Oh
Maturity.
$2,500,000
55,000 Sept 1 1919
2.445,000 May 1 1932
Int. at Union Tr. Co., Pittsburgh, Trustee.
500,000 gold ($1,000)-c*tfj"
Pitts & Charieroi 2d M $1,1913
5 J-D
522,000 Dec
1 1943
000,000 ($1.000) red at 102- Int. at company's office or Union Trust Co.,
guar
earnings of the North Side
companies, subject only to annual
Pitts. A. & M. and Second Ave. traction
charges
—
over the
principal and interest, by the United Traction Co. and the Philadelphia Co.
The $55,000 1st M. 5s of the Charieroi & West Side Ry., due Sept. 1
1919, were not paid off at maturity.
Interest at Browa Bros. & Co., N. Y., or A.
2d Ave Traction Co mtge
Ry.—A trolley road.
leroi & West Side Ry.; is leased to the United Traction Co. for 900 years
from May 15 1902.
Rental is $1,000 per year.
Bonds are guaranteed,
ide traction
Surchased all companies, and secured control ofthe Second Ave.Allegheny &
the property and franchises of the Pittsburgh and North
Manchester
Pittsburgh & Charieroi Street
owned by Pittsburgh Rys.
(c)
Stock
the
ORGANIZATION.—Incorporated on July 27
Outstanding.
Maturity,
$150,000
See text
150,000 July 11919
Q-F
6 J-J
jto Washington Avenue, on top of hill.—V. 106, p. 87; V. 108, p. 2529.
(2)
United Traction Co. of
Default—Bondholders' Protective
Pittsburgh.
Committee.—In view of the default by
Pittsburgh Railways in payment of the Jan. 1 1918 interest on the
United Traction Co. 5% bonds due in 1997, and on the bonds of varioua
other companies named under Pittsburgh Rys. Co. above (interest on
these latter was paid in March 1918—V. 106, p. 1232), the following com¬
mittee was formed to protect all the several bond issues affected.
In Feb.
1919 the scope of this committee was widened so as to include all the bonds
issuedjby corporations included in the system. V. 108, p. 684.
Chairman, Thos. S. Gates; Geo. H. Frazier, J. Rutherford McAllister,
B. HoWell Griswold Jr., John H. Mason, A. A. Jackson, C. S. W. Packard
and A. G. Robinson; Sec., J. C. Wallace, 415 Chestnut St., Phila. Deposi¬
taries: Philadelphia Trust Co., Phila.; People's Savs. & Tr. Co. of Pittsb
and Safe Deposit & Trust Co. of Baltimore. V. 106, p. 1232; V. 108, p.
684]
Interest.
so
ROAD.—Operates 5.165 miles of track from Avalon to Dlxmont.
ft. 2H la.
5
Treas..
O. J.
Braun
Gauge,
V.-P.. J. H. Reed; Sec., W. B. Carson;
OFFICERS.—Pres., S. L. Tone;
Jr.
Baltimore Stock Exchanges.
East McKeesport Street Railway.
Entire stock Is owned by Pittsburgh Railways.
(f)
ROAD.—Controls 240.343 miles of track in all.
REPORT.—Not
now
an
operating
company
Reed; Sec., W.
Car¬
Treas., O. J. Braun Jr.: Comptroller, C. S. Mitchell.
Office. Pitts¬
burgh, Pa.
Financial agents. Alexander Brown & Sons. Baltimore Mdr*—
V. 107, p. 83; V. 108, p. 685, 785, 1614, 1938, 2023: V. HO, p. 1291OFFICERS.—Pees.. S. L. Tone: V.-P., J. H.
son;
Is leased to
ORGANIZATION.—Incorp. in Penna. on June 26 1899.
Traction Co. of Pittsburgh for 900 years from Jan. 1 1902.
($50); 1st M. 5% gold bonds, $250,000 (tf) ($1,000),
Dated Dec. 1 1899.
Due Dec. 1 1929.
Int. J. & D. at Fidelity Title &
Trust Co., Pittsburgh, trustee.
Miles. 8.27.
United
Stock, $250,000
LINES CONTROLLED BY UNITED TRACTION CO. OF PITTS.
(a)
Federal Street & Pleasant Valley Ry.—Trolley.
Default and Subsequent Payment.—See Pittsburgh Railways above.
V
63. p
HI. 76. 189.
The $92,000 5% bonds of the Federal Street & Pleasant Valley, due July 1
1919, had not been retired up to Sept. 1 1919.
000
STOCK AND
BONDS—
Date.
Stock (par $25), full paid
Consol mtge, $1,250,000.
($1,00C),
on
Outstanding.
Interest.
Maturity.
5 J-J
$1,400,000
See text
g.? 1892
5 g J-J
1,073,000 May 1 1942
28 miles-.c*tf lint, at Fidelity Title & Tr. Co., Pittsburgh.
■.
Underlying mortgages—
Fed St & PI Val mtge
1889
1890
1890
1890
1890
5
5
5
5
5
92.000 July
18,000 Nov
J-J
J-J
1 1919
1 1920
1920
\ 1920
27.000
3 000
37.0uu
J-J
J-J
i iuzu
ivov
mortgage of 1942 is for $1,250,000.
of which
hands of trustee to retire all the other Issues;
mortgage trustee is the Fidelity Title <fe Trust Co., Pittsburgh.
All the
above issues are guar,, p. & !., by United Traction Co.
the balance unissued is in the
ROAD.—Embraces 34.53 miles of track (Including sidings) on about
miles of street; rails mostly 90-lb. girder.—V.
(b)
106,
p.
Pittsburgh & Birmingham Traction.—A
On Jan. 1 1902 leased for 999 years to the
17
85, 929, 1230.
trolley road.
$150,000 annually as rental
ORGANIZATION.—Incorporated Aug. 15 1889; Nov. 19 1889 leased
P. & B. Passenger Ry., including South Side Pass. Ry. Co.
Also leased
and operated from Dec. 1891 Pittsburgh Incline Plane Co. and Mt. Oliver
Incline Plane Co.; operated also Birm. Knoxville & Alientown Traction Co.
In Aug. 1900 purchased the $400,000 capital stock of the West Liberty
Street Ry. ana constructed a line to Mt. Lebanon.
V. 71, p. 343.
Interest.
Outstanding.
Maturity.
Stock ($50)..
Text
$3,000,000
See text
4st M guar p & I by United I
1889
5 g M-N
1,500,000 Nov 1 1929
Tr Co ($1,000).- —--c*tfi! Fidelity Trust Co. of Pbiladelpnia, Trustee.
The So Side Pass Ry 1st Mj 1913
5 A-O
10.000 Oct. 1 1953
($1,000) not sub to call—tf lint, at Colonial Trust Co., Pitts., Trustee
Guaranteed
Street Ry., Highland Park Street Ry. and Negley Street Ry.). and assumed
its leases of the Citizens' and the Allegheny Traction companies, and has
acquired the control of the Pittsburgh, the Duquesne and the Central Trac¬
tion companies.
In 1902 leased the Monongahela St. Ity. and the Subur¬
ban Rapid Transit Street Ry.
Owns all stock of the Ardmore Street Ry..
and guarantees its bonds, principal and interest.
V. 88, p. 882.
On Dec. 4 1901 the stockholders of Philadelphia Company approved
V. 73, p. 1112.
Elan for absorbing the shares of the Consolidated Traction. See terms
286,880 shares common and 233,117 shares preferred
l
have
been
exchanged.
so
Date.
8TOCK AND BONDS—
Oommon stock
($50)
Interest.
J-J
6 M-N
($50)
Outstanding.
MaturtVur
$15,000,000 July'12, 1%
12.000.000 Nov '13. 3 %
1914
5 A-O
225,000
See text
Equipment trust certificates
Union Trust Co., Pittsburgh, trustee.
$500,000 Series "B"
1916
5 g A-0
120,000
See text
($1,000) Series "C"__c*tf Colonial Trust Co., Pittsburgh, Trustee.
Oar trust bonds $800,000 gold/ 1916
5 g A-0
520,000
See text
($1,000) Series "D"
.tf/Union Trust Co., Pittsburgh, trustee.
Car trust bonds $200,000 gold
Oar trust bonds $200,000
($1,000)
5 M-N
166,000
See text
J Fidelity Title & Tr. Co., Pitts., Pa., trustee.
1895
5 g J-D
1,000,000 Dec 2 1935
gold/ 1917
Series "E"_.-__
^
Fort Pitt Trac mtge $1,000.-1
_
000 ($1,000) g not red c* tfllnt. at
Notes payable
Dec. 31 1918—
Pittsburgh Tr. Co.. Pittsb., trustee.
1,379,372
—-
—.
divs. of 6% per annum and has the
right to participate equally with the com. stock when that has received 6%.
All arrears of dfivs. were paid up in Jan. 1903.
V. 76, p. 48.
First div. of
Stock.—The pref. stock carries cum.
United Traction Co., which has
agreed to pay all interest, taxes, &c., and also
Lease is guaranteed by the Philadelphia Co.
STOCK AND BONDS—
ORGANIZATION .—Chartered July 15 1895.
The company absorbed
Fort Pitt Traction Co. (a consolidation of Fort Pitt Pass. Ry., Gross
Che
Pref stock 6 % cum
tf
Allegheny & Bell 1st mtge._tf
Allegheny St 1st mort
tf
Perry St 1st mortgage
tf
Troy Hill 1st mortgage.._..tf
Bonds.—The consolidated
Consolidated Traction.—Trolley road
(3)
ORGANIZATION.—Incorporated Feb. 20 1868, and has since conso li
dated its various subsidiary companies.
The franchise is perpetual.
The North Side Traction Co. on July 20 1896 leased the Federal Street &
Pleasant Valley for 960 years, assuming its debt, and agreeing to pay as
rental all taxes, rentals, &c., and also $70,000 yearly In cash, payable Jan. 15
and July 15, equal to 5% on the $1,400,000 stock, of which It owns $750,-
Date.
Bonds—
Knox & A 1st mtge,/ 1891
6 g M-S
500.000 Sept 1 1931
gold, interest guaranteed—I Fidelity Trust Co., Philadelphia, Trustee.
Brownsville Ave St Ry lst M_ 1896
5 F-A
300,000 Aug 1 1926
West Liberty St Ry 1st mtge. J /1900
,
5 g J-J
400.000 July 11930
1
Pittsburgh Trust Co.. Trustee.
Birm
1% on common paid Jan. 2 1903; then 1% July 1903; 1904 to
2% per amtum.
In 1912, Jan.. 1%; July, 1%.
1911, lncl.,
equipment trust certificates Series "B" mature $25,000
semi-annually from April 1 1915 to October 1 1924; $275,000 have been
retired; they are secured by 100 cars costing $581,945.
The Series C
car trust bonds mature in ten annual installments of $20,000 each
from
.
Bonds.—The
1917 to April 1 1926. inclusive.
$80,000 have been retired.
They
bv 50 cars costing $221,000.
Free from Penna. State tax.
p. 608.
The Series "D" car trust bonds mature $40,000 each
6 mos. from April 1 1917 to Oct. 1 1926 inclusive
$280,000 have been re;
tired.
They are secured by 175 cars costing $900,000.
The Series
E
car trust bonds are to be secured by 50 cars costing $225,000.
They mature
In 11 annual payments commencing Nov. 1 1918.
$34,000 retired.
The Fort Pitt Tract, bonds are secured by the deposit of the shares of the
constituent companies out of which the Fort Pitt Co. was formed, namely,
$300,000 Fort Pitt Pass. Ry. stock. $100,000 Gross St. Ry. stock. $100,000
Highland Park St. Ry. stock, $100,000 Negley St. Ry. stock.
April 1
are
V.
secured
102,
ROAD.—Controls 227 278 miles
of track
In
all.
H. Reed;Sec., W. B.
C. J. Braun Jr.;Comp., C. S. Mitchell.—V. 102, . 608.
OFFICERS.—Pres., A. W. Thompson; V.-P., J.
Carson; Trea§.,
ROAD.—Operates 30.5 miles of track, laid with 90-lb. rails.
ANNUAL REPORT.—Not now an operating
Lines Leased to Pittsburgh &
company.—V. 72.
p.
776
Birmingham Traction Co.
Mt. Oliver incline Ry.—Owned, leased and operated by Pittsburgh &
Birmingham Traction Co.
Stock. $100,000.
Bonds; 1st M. 6s, (cpt) M. &
N., due May 1 1954. $41,500.
Red. at 105 and Int.
Colonial Trust Co..
Pittsburgh, trustee.
.
Default and Subsequent Payment.—See Pittsburgh
_
„
Railways above.
Pittsburgh Incline Plane.—Leased for 999 years to
Pittsburgh & Birm¬
Traction Co., at rental equal to Interest; on bonds and 10% on
$150,000 stock, free of tax; dividends were 9% yearly for some time, balance
being carried to surplus, but were Increased some time prior mi Jan
1 1902
to 10%.
Up to Sept. 1 1919 'he company's $150,000 1st M. 6s. due July l
1919, bad not b^en retired.
Compare V. 108. p. 2529.
ingham
ia)
Ardmore Street
Ry,
ORGANIZATION.—Incorporated in Pennsylvania on Oct. 31 1907.
private right of way .
Franchises in boroughs are perpetual
Consolidated Traction owns all the stock and emarantees the bonds, prin¬
Road mostly on
cipal and Interest. V. 88, p. 881. Philadelphia Co. owns $26,000 bonds.
STOCK AND BONDS—
Dale.
Interest.
Outstanding.
Maturity.
Stock $14,000 ($50)
See text
First
mtge $1,250,000 gold? 1908
5 g A-0
$1,032,000 April 1 1958
($1,000)
c*tflint. at Colonial Trust Co., Pittsb., trustee.
Bqnds.—Remaining bonds are reserved for extensions and betterments.
No sinking fund, but subject to call at 105 and interest.
-
ROAD.—Operates 8.22 miles of track between
•Pittsburgh.—V. 88, p. 881.
Wilkinsburg and East
Lines Controlled by Consolidated
(a)
[Vol. 110.
ELECTRIC RAILWAYS
110
Traction Co.
t
Traction.
Allegheny
First
23
July
ORGANIZATION.—Incorporated
April
1890.
this j
1896
1
company was leased to the Fort Pitt Traction Company tor 950 years at
rental of $25,000 per annum.
Lease assumed by Consol. Traction Co.
Stock, $500,000 'par $50)
$500,000
Guaranteed bonds—
See
$1,400,000
($1,000)
-
$200,000, gf 1913
6 g M-S
i
c.tf(Int. at Farmers' Dep
See text
200,000 Sept 1 1953
Nat Bank, Pittsburgh.
Colonial Trust Co., Pittsburgh,
!
;
text j
i
1923 j
_
mortgage,
Maturity.
Outstanding.
J-J
,
i
Outstanding. Last div.etc
Interest.
5%
Date.
STOCK AND BONDS—
a
Interest.
Date.
STOCK AND BONDSStock $1,400,000
Trustee.,
July, 1 Y %; si nee 4 % ner ana.
6 miles of street.
Dividends.—I n 1903.4 %; In 1904, Jan., 2 %;
Road.—Operates 11.88 miles of track on
(i)
Ry.
Street
Electric
Morningside
ORGANIZATION.—Incorporated in Pennsylvania on July 14 1904.
Sharpsburgl 1893
5 g M-N
741,000 Nov 1
Entire stock is owned by Philadelphia Co.
Is leased to the Consolidated
1st
M
$750,000
g-tf (Int. at Pittsb. Tr. Co., Pittsburgh, Trustee.
Dividends.-—The semi-annual dividend of 2H% due June 1 1901 was ; Traction Co. for 995 years from Sept. 30 1905 at a rental of 5% on stock
passed, the proceeds being used to pay off the floating debt.
In 1902, t and interest on bonds.
4H%; 1903 to J917, tncl., 5% per annum.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
5 A-O
$24.000 See text.
ROAD.—Including Mlllvale Etna & Sharpsburg, 22.708 miles of road.
j Stock, $24,000 ($50)
1st
mtge
$200,000
gold/ 1905
5 g A-O
200,000 Oct 1
1935
(b) Central Traction.—Trolley.
I
($1,000)
guar
prin
and-!Int. at office of Brown Bros. & Co., Phila.
int by Phila Co .a
Default and Subsequent Payment.—See Pittsburgh Railways above.
c*.tf iPenn.Co.for Ins.onLives & G.A., Phila. Trus.
Mlllvale Etna &
1888.
Leased from April 2 1896 to j
ROAD.—Operates 3.31 miles of track.
Gauge 5 ft. 2Y% in.
Fraction for 950 years at 3%. per annum on par value j
OFFICERS.—Pres., S. L
Tone; V-p.. J
H. Reed; Sec.,
(see V. 61, p. 1154); and in May 1896 stockholders
Carson; Treas.. C. J. Braun Jr.—V. 107. p. 2188
|
were offered privilege of exchanging their stock for receipts, which were
redeemed at $30 per share on Oct. 1
1896 in Consolidated Traction Co.
(4) Seventeenth Street Incline Plane Co.
ijjfiASE.—Incorporated Dec. 21
the Consolidated
W.
of $1,500,000 stock
been
exchanged.
V.
Ereferred stock at par. 29.17362, p. 1087.
shares of Cent. Trac. stock (out of 30.000)
so
ave
STOCK AND BONDS—Miles. Date.
Stock ($50) see text
Interest.
Outstanding.
3%A-0 ( 30.00C shs.l
i
Maturity
See
B.
ORGANIZATION—Is a reorganization on Dec. 28 1904 of the Penn. In¬
Plane Co.
Entire stock is owned by the Philadelphia Co.
Was
operated by the Pittsburgh Rys. Co. up to Jan. 16 1918. since when it has
been separately operated.
cline
130 paid up]
text.,
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
6
1889
5 J-J
$375,000 July 1 1929 t
Stock $250,000 ($50)
$250,000
Interest at Union Trust Co., Pittsburgh.
1st mtge $125,000
($1,000) f 1905
5 cur M-S
125,000. Mch 1 1935
Bonds of Central Passenger Ry. controlled.
guar
_c*-tf) Int. at Colonial Tr. Co., Pittsburgh. Trustee.
1st M $250,000/
4
1894
6 A-0
125,000 Oct 1 1924;
Bonds.—No sinking fund, and bonds are not subject to call.
Are guaran¬
($1,000)-ntf I Interest at Union Trust Co., trustee, Pittsburgh.
teed. prin. & Int.. by the Philadelphia Co.
Dividends.—Feb. 1 1892, $2 50 in stock; in 1896, Feb., 2% in cash !
OFFICERS.—Pres., A. W. Thompson; V.-P., J. H. Reed; Sec., W. B.
In 1898, Nov., 13^ % in cash; in 1899 and since 3% per year.
j
1st M $375,000
cable/
Une,$500-.---ntfl
controlled by ownership of capRy., 3'A miles.—V. 62, p. 948, 1087.
ROAD.—9.27 miles of road, of which it
tal stock. Central Passenger
(c)
Carson; Treas., C. J. Braun Jr.;
Controller. C. S. Mitchell.
Beaver Valley Traction.—A trolley road.
1905 entire stock was acquired by the Philadelphia
burgh.
V. 81, p. 506.
(5)
In July
Citizens* Traction.—A trolley road.
ORGANIZATION.—Incorporated July 6 J887.
On Sept.
1
1887 pur¬
Co. of Pitts¬
ORGANIZATION.—Incorporated In Penn. In perpetuity June 29 1891 •
and owns entire stock of beaver Valley St. Ry. and of Central Electric St. Ry'
Co., purchased Aug. 8 1891, operating them as one road under 999-year
LEASE.—Leased from Nov. 1 1895 to Fort Pitt Traction Co. (now f lease.
Charter and
franchise perpetual.
Oonsol. Traction) for 950 years at 6% per annum on $3,000,000 capita!
In 1900 stock was increased from $300,000 to $1,000,000 and then pur¬
stock.
In -addition the lessee agreed to pay a floating debt of $175,000
chased the stock and property of the People's Electric Street Ry. of Roches¬
and at maturity mortgage debt.
V. 61, p. 661.
j ter. the College & Grandview Electric Street Ry., the Rochester & Monaca
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity, j Electric St. iiy. and the Beaver & Vanport Electric St. Ry ; also owns en¬
Stock ($50) fully paid. __
6 M-N
$3.000.000f.p. See text tire capital stock of Riverview Electric St. Ry. Co., the Freedom & Conway
1st
mortgage
($1,000) Not/ 1887
5 A-O
686,000 Oct 1
1927 i Electric St. Ry. Co. and the Vanport Electric St. Ry. Co., none of which
In Jan. 1902 authority was given to in¬
subject to call
tf ^ Fid. Title & Tr. Co., Pittsburgh Trustee,
j bas any separate bond issue.
crease stocK from $1,000,000 to $1,500,000Bonds of lines whose stocks are owned—
Fare Increase.—In Dec. 1917 the co. Issued a new schedule of rates and
Peun.8t.Pass. Ry. IstM
1892
5 J-D
250,000 June 1 1922 i
fares, effective Jan. 26 1918, in the boroughs of Beaver, West Bridgewater,
Interest and dividends payable at Union Nat. Bank, Pittsburgh, Pa
Rochester, Monaca, Freedom, Conway, New Brighton, Beaver Falls,
ROAD.—Owns 30 02 miles of track on 15 miles of street.—V. 106, p. 818
College Hill and surrounding territory, increasing the 5-cent fares to 6 cents,
adding a fare zone for through passengers from 12th St., Conway, to Van(d) Duouesne Traction,—A trolley road.
port, and discontinuing the sale of cut-rate tickets in books of 21 for $1.
Default and Subsequent Payment.—See Pittsburgh Railways above.
Tickets are sold in strips of 10 for 55 cents.
LEASE.—Incorporated Jan. 25 1890.
Leased from April 2 1896 to
Wage Award by War Labor Board.—V. 109, p. 675.
the Consolidated Traction for 950 years at 4% on the $3,000,000 stock,
|
but dividends for a year and a half were withheld for payment of floating
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
debt of $180,000.
In May, 1896 stockholders were allowed to exchange
Stock $1,500,000 (par $50)$1,075,000
their stock for receipts, redeemed Oct. 1 1896 at $37 per share in 6% pre¬
1st
con
mortgage
(closed) f 1900
5 g A-0
675,000 Oct 1
1950
ferred stock of Consolidated Traction Company at par.
52.635 shares out
gold
c*.tf(Int. at Pa. Co. for Ins. on Lives & Granting
of 60.000 have been so exchanged.
See V. 62, p. 1087.
\
Annuities, Philadelphia. Trustee.
chased the entire capital stock ($200,000) of the Citizens Passenger
which it now holds.
Also owns stock of Aspinwall Street Ry.
Ry.'}
Date.
Interest.
Outstanding.
Maturity.
Text.
$3,000,000
See
text
I Div. payable at Fidel. Tit. & Tr. Co..Pittsb.
1st mortgage—c*tf/
1890
5 J-J
1.470,000 July 1930
1 Fidelity Title & Trust Co., Pitts., Trustee.
Dividends were 5%. J J, but in 1893 and 1894 none paid; in 1895. 4%;
In 1896, none; in 1898, 3%; In 1899 and since. 4% yearly.
STOCK AND BONDS—
Stock ($50) fully
ROAD.—At
_/
paid._
11 companies, having at
1087; V. 106, p. 85, 1230.
1896 controlled
time of lease in
present 37.17 miles of road.—V. 62. p. 948,
(e)
Fort Pitt Traction.—See
(f)
Monongahela
Gen mtge$3.000.000
($1,000)1
1903
5 g M-N
1953
957,000 Nov 1
e* tf flnt: at Northern Trust Co . Phila., Trustee.
bonds, gold, $72.-/ 1917
5 J-J
54,000 See text
000 ($1,000)-..
(Fidelity Title & Tr. Co., Pittsburgh, trustee
Bonds.—Of the gen. mtge. bonds, $675,000 are reserved for prior liens
and the remainder for extens. and improvements at 75% of cost.
See V 77 .
gold
-
-
Car trust
$232,000 owned by Phila. Co.
2158.
p.
Both issues redeemable at 110
and interest.
The car trust bonds mature $6,000 Jan.
by 12 motor cars.
'Consol. Traction Co."
1 1921 to 1929 and
are
secured
$18,000 retired.
ROAD.—Owns and
operates 36.205 miles of track,connecting the varlou s
boroughs in the Beaver Valley, from Morado Park southerly, via
Vanport and to Rochester and Conway.
Laid
with 90-lb. and 73-lb. girder rails.
Owns 45 closed and 9 open passenger
cars and 9 miscellaneous cars
towns and
Railway.
Street
Beaver Falls, to Beaver and
1898, absorbed by consolidation the
ORGANIZATION.—On May 26
Schenley Park & Highland. Homestead & Highlands, Braddock & Home¬
stead and the Braddock & Duouesne.
In Dec.
1901 the Monongahela Street Ry., the Wilklnsburg At East
Pittsburgh Street Ry., the Wilklnsburg & Verona Street Ry. and the
Pltcairn & Wllmerding Street Ry. (construction of latter two roads com¬
pleted during the year 1903-04), were merged in the Mononghela Street
and stock
was
increased from $1,000,000 to $7,000,000.
See V.
Ry,
73,
On Jan. 1 1902 the Monongahela Street Ry. was leased for 999
years to the Consolidated Traction Co. for interest, taxes, &c., and an
annual rental beginning with $165,000 the first year and increasing $18,750
each year until $315,000 is reached.
Lease is guaranteed by Philadelphia
Co
First dividend under lease (2%) was paid in July
1904.
See V. 79,
p.
p.
1112.
In 1905, Jan.. 1H%; July, 1 3-5%; in 1906, 3.26%; In 1907, 3H %;
in 1911 and since. 4 H %.
269.
hi 1908. 3.86%: in 1909. 4.12%: in 1910. 4.37%;
Default and Subsequent Payment on Pltcairn & Wllmerding 5s.—See Pitts¬
burgh Rys. and United Traction Co. above,
STOCK &
Miles.Date.
BONDS—
Stock. $7.060.000
Mon. St. Ry. 1st mtge
-
J 17
1898
5gJ-D
\
c&r tf j
Wilk. & Ver. M„ $700,0001
g.
($1,000)
-.c&r. ...tf I
Pt. & Wil. M.. $700,000, g.l
($1,000) c&r._tf
-J
5 g M-S
1899
guar
2.000.000
Sept 1
-
1901
5 g J-D
1901
5 g J-J
588,000 July 1
1931
operating company.
Pittsburgh Traction.—A trolley road.
ORGANIZATION.—Incorporated April 30 1887.
LEASE.—Leased from April 2 1896 to the Consolidated Traction for 956
years at 7% on the $2,500,000 stock (see V. 61, p. 1154) but
m years
dividends were used to pay floating debt of $250,000.
The full 7% Is now
being paid.
In May 1896 stockholders were offered receipts for their stock,
which were redeemed at $70 per share on Oct. 1 1896 In preferred stock of
Consol. Traction Co.; 49,500 shares out of 50,000 have been so exchanged
See V. 62, p. 948.
Pittsburgh Traction owns the $250,000 capital stock
of Bloomfield Street Ry. and guarantees the bonds.
STOCK AND BONDS—
Date.
Stock$2,500,000 ($50)
1st mtge 5s
—„c*.tfj
1887
Interest.
7 A-0 31
Outstanding.
Maturity
$38persh.pd.in.See text
$750,000 Oct 1
5 A-0
1927
(Fidelity Title & Trust Co., Pitts., Trustee.
Guaranteed Bonds—
Bloomfield
cur.
1st f 1893
5 F-A
250,000 Aug 1 1923
c*.tf\Interest at Pittsburgh Trust Co., Trustee.
50,000 shares, on which $38 each has been paid.
Street
-
Stock.—Issued
Ry
Dividends In 1895
DIVIDENDS.—At company's office, Pittsburgh.
6%: in 1896. none—see above; in
ROAD.—Owns
(h)
Suburban
18.51
Rapid
1898,5H%; in 1899
ar|d since, 7%.
'
miles of track.
Transit Street Ry.
ORGANIZATION.—Was leased
on
Jan. 1 1902 to Consolidated Traction
Go. for 900 years at an annual rental of $56,000,
Including interest and taxes.
Franchises
as
$444,864;
net,
V. 81,
p.
506.1664, 1790; V. 87,
p.
345; V. 106,
295;
p.
1908.
Capital stock $235,000 ($50 par), all owned by
authorized, first mortgage gold, $1,500,000
Issued, $750,000, ail owned by the Philadelphia Co.; dated July 1 1908,
due July I 1958 (tf).
Int. 5%, payable Jan. & July at company's office
perpetual.
Philadelphia
Fare
Co.
Bonds
Union Tr. Co. of Pitts., trustee.
Are guar. p. & i. bv PhiJa. Co.
Increase.—On Oct. 6 1917 a 6-cent fare became effective.
Wage Award by War Labor Board.—V. 109. p. 677.
EARNINGS.—For fiscal year ending Mar. 31 1918, gross, $73,208: net,
$21; int. & disct., $60,904; deficit, $52,629.
ROAD.—Operates 14.99 miles in and between Baden, Beaver County,
Allegheny County, Pa.—V. 105, p. 1802; V. 109, p. 677.
624,000 June 1 1931
-
OFFICERS.—Pres., W. L. Mellon; V.-P., A. W. Mellon; Treas., W.S
Mitchell.—V. 72. p. 776; V. 79, p. 269, 627, 735.
(g)
gross.
and Leetsdale,
at Mellon National Bank.
The Wilks. & Ver. bonds
are guaranteecf, prin. & int.. by Wilk. & E. Pitts. St. Ry. Co., Monongahela
St. Ry. Co., Consol. Traction Co. and Phila. Co. Co. of Pittsburgh.
ROAD.—Owns 70.4 miles of track, including branches; 90-lb. rails.
an
1918,
Pittsburgh & Beaver Street Railway Co.—A trolley road
ORGANIZATION.—Incorporated
in
Pennsylvania
Jan.
23
1929
■
Bonds.—The Union Trust Co. of Pittsburgh is trustee of all mortgages
now
31
(6)
after taxes, $8,254; oth. inc.,
and interest is payable
REPORT.—Not
Dec.
OFFICERS.—Pres., S. L. Tone; V.-Ps., J. H. Reed and A. W. Thomp¬
Sec., W. B. Carson; Treas., C. J. Braun Jr.; Comp., C. S. Mitchell.—
V. 77, p. 1224, 2158;
V. 109, p. 675.
1,000.000 June 1 1928
1
$2,000,000 g ($1.000)
ending
year
son;
Pitts.
Interest. Outstanding.
Maturity.
See text $7,000,000 See text.
Union Trust Co., ~ '
Pittsburgh, Trsutee.
•
tf
$1,000,000 gold..
Wilk. & E. P. M
EARNINGS.—For
after taxes, $55,770; other income, $1,539; int., rents, &c., $105,376, impts.
& betterments, $7,192 disc, on securities sold, $583; deficit for year $55,841.
well
as
paying all
charges,
(7) Clairton
Street Railway Co.—A trolley road
ORGANIZATION.—Incorp. in Penna. May 5 1904.
$30,000
Capital
stock
($50) ail owned by Pittsburgh Railways Co.
ROAD.—Operates one
egheny County.
mile or track In the Borough of Clairton.
ELECTRIC
LIGHT
AND
Al-
POWER.
Duquesne Light Co.—Entire com. stock is owned by the Phila. Co.
Incorp. on Aug. 25 1903 under the laws of Pennsylvania.
In Feb. 1912 the Duquesne Light Co. was purchased in the interest of
Phila Co. (V. 94, p. 560). and In Nov. 1912 It was merged with the Monon¬
gahela Lt.Co.and Oakmont & Verona Lt., Ht. & P. Co.
In Dec.
1912
it increased Its stock from $3,000,000 to $25,000,000 preparatory to acquir¬
ing control of the electric-lighting properties owned by the Phila. Co.
Merger effective Jan. 1 1913.
Owns $849,950 out of $850,000 stock of the Pennsy. Lt. & P. Co
the
entire stock and bonds of the Allegheny County Lt. Co., the entire stock
and $254,000 bonds of the Southern Ht., Lt. & P. Co., the entire stock of
the Diamond Lt. & Pow. Co., Beaver County Lt. Co., Midland El
Lt &
Pittsburgh-Beaver Light Co., Brunot Island Bridge Co, Allegheny
County Steam Heating Co. and of 4 miscellaneous electric-light and power
companies and $500,000 bonds (entire issue) of the East End Electric Light
Co.
On Dec. 31 1912 leased for 50 years the Allegheny Co. Lt. Co. which
in turn leases the Southern Ht., Lt. & P. Co. and Monongahela Lt. & P Co
P. Co.,
for 900 years from Jan. 1 1902.
In April 1916 purchased the
&
Power Co.
Franchise Is
$150,000 6% bonds of the Penna. Lt. Ht
which fell due April
1
1916.
Has contract extending to 1963 to supply all
electricity usjftd by the Pittsburgh Rys.
Also has contract with the city of
perpetual.
Pittsburgh for street and other municipal lighting and power purposes
City Lighting Contract.—On Nov. 19 1917 the Pittsburgh City Council
adopted an ordinance to authorize a contract with the company to furnish
light to 20 wards of the city for ten years, the contract being based on nor¬
mal prices for labor and supplies; contract has since been signed
In 1917 brought out an issue of $3,272,251 5-year notes dated July 16
1917, whole issue oeing purchased by the Philadelphia Co.
In July 1919 the co. issued $25,000,000 1st mtge. & coll. tr. 30-yr. 6s
proceeds being applied to the purposes enumerated in the description of
this issue below.
See also V. 109, p. 176, 2267.
In Sept. 1909 the stockholders approved the issuance of a $100 000 000
mtge.
V. 109, p. 984.
Compare V. 109, p. 176.
'
Interest.
Outstanding.
Maturity.
Monthly $18,226,000
See text
pf $10,000,000 ($100)
Q-F
5,941,000 May'20,l?4
1st M & coll tr $25,000,0001 1919
6 g J-J 1
25,000,000 July 1 1949
($500 & $1,000) g_c*&r*,tf/Bankers Tr Co., N. Y„ trus.
Int. in N. Y.
Bonds of leased Cos .—
Southern Ht Lt & P 1st Mf 1899
5 g J-D
1/46,000 Dec 1
1949
$300,000 ($1,000) goldi_tf\lnt. at Colonial Tr. Co., Pittsb., trustee
1899
5 g J-D
1,700.000 June 1 1949
Monongahela Lt & P 1st M
$1,700,000 ($1,000) g---tf Int. at Mellon Nat. Bank, Pittsburgh.
Union Trust Co. of Pittsburgh, trustee.
STOCK AND BONDS—
Date.
Common $25,000,000 ($100)_.
7%
cum
5 M-N
Trust
565,000 Nov. 1 1927
New York, trustee.
585.000
Valley Electric Co
—
188,000
V Remaining $254,000 owned by Duquesne Light Co.
Stock.—Additional pref. stock may be issued for additions, impts. and ex¬
tensions only. Red. asawhole on any div.dateat 115 and div. on 60 days'
notice.
$3,500,000 com. stock not incl. in amount outstanding, is held in
Pittsburgh-Beaver
1st
M
Light
1917
Cof
$565,000 ($1,000) glEquitable
Beaver County Light Co
Co.,
i
treasury.
Bonds.—The first mtge. & coll. trust 6s are secured by a first mtge. on
all property owned in fee and by a first lien on the co.'s leasehold interests
and on certain bonds and virtually all the stocks of its subsidiaries.
The
proceeds of the $25,000,000 of these bonds were applied as follows:
(a) $12,000,000 (together with certain cash from other sources) were
used to retire (by call on Jan. 1 1920 at 101 and int. V. 109, p. 2267) $12,000,000 Duquesne Light Co. 3-yr. 6% secured notes, due July 1 1921 (V. 107, p.
607).
(6) $11,718,500 deposited with the trustee and—or with its designate
depositaries, and may only be withdrawn from time to time to pay or reim¬
burse the company in part for cash expenditures aggregating $14,648,125
made (1) in connection with the construction to an initial installed capacity
of 60,000 k. ,w. of the new Cheswick power plant; and (2) for permanent
additions and extensions to the property,
(c) The remaining $1,281,500
were delivered to the trustee to be held pending the fulfillment of certain
conditions.
The auth. amount of these bonds may be increased (without
requiring the conseht of the outstanding bonds) to $100,000,000.
If in¬
creased to $100,000,000 (subject in certain respects to the 1st ref. & coll.
trust bonds dated Feb. 1 1919!of the Philadelphia Co.), the company shall
be entitled to receive the $1,281,500 bonds previously mentioned as being
deposited with the trustee out of the initial issue of $25,000,000.
The addi¬
tional $75,000,000 bonds may be issued under certain conditions for purpose
enumerated in V. 109, p. 176.
The mtge. provides for a maintenance and
depreciation fund of not less than 15% of the gross operating revenues of the
Registered bonds in the $1,000 denom. only.
system.
Red. on any int.
V. 109, p. 176.
Notes.—The 3-year notes have been called for payment Jan. 1 1920 at
101 and int.
V. 109, p. 176.
1
Dividends.—First div. on pref. stock, 1 M%, paid May 1915; same rate
quar. since.
First quar. div. on com., l%%, paid Mar. 31 1913; Sept..
1%%'
Since then divs. have been 7-12%.each month.
REPORT.—For cal. year 1918 and 12 months ending March 31 1918
date at 105 and int.
Free of Penn. 4-mills tax.
1917-18
1918
1918.
Gross earns_ $11,505,315 $9,842,395 Impt. & bett's,
wrtiten off..
$10,319
Net, aft. taxes $4,141,509 $2,709,582
102,571 Misc. losses.._
4,567
Other income.
64,002
768,123
Depreciation-_
413,529
Total net inc. .$4,205,511 $2,812,152 Pref. dividends
$732,430 Com.dividends 1,458,085
Int., rents, &c.
$897,674
1917-18.
_
$25,438
50
371,370
414,503
1,457,969
Disc.,taxes,&c.,
on
*
38,568 Surp. for year.
412,148
sale of sec.
$41,066
*$228,177
Deficit.
-See Philadelphia Co.
-As of Dec. 31 1918, had a power
LATEST EARNINGS.
station generating
PROPERTY, &C
capacity of 156,200 k. w.; 4,432 miles of distributing lines; 523 miles of
transmission lines; 71.2 miles underground conduit; 85,575 customers; tota
capacity of 156,200 k. w.; 4,432 miles of distributing lines; 523 miles of
transmission lines; 71.2 miles Underground conduit; 85,575 customers; total
capacity of motor supplies, 231,637 h. p.; supplies 6,842 arc lamps.
Ches¬
wick power plant now under construction will have an initial installed ca¬
pacity of 60,000 k. w., and will cost about $15,000,000.
V. 109, p. 176,891.
Output for 9 months ending Dec. 31 1918, 486,033,524 k. w. h., against
454,319,873 k. w. h. for the same period in 1917.
OFFICERS.-^-Ohairman of the Board and Pres., James D. Gallery;
V.-P., J. H. Reed; Sec., W. B. Carson; Treas., C. J. Braun Jr.; Comp.,
O. S. Mitchell.—V. 107, p. 505, 607. 1840; V. 108, p. 272, 2429, 2623;
V. 109, p. 176, 891, 984. 2267.
(a/
Pennsylvania Light & Power Co.
$849,950 of the stock is owned by the Duquesne Light Co.
ORGANIZATION.—Incorp. in Penna. Jan. 14 1901.
Oper. separately.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock $1,000,000 ($50)-.-...$850,000
Penna Lt. Ht & Power mtge/ 1901
6 A-O
150,000 April 1 1916
$150,000 ($1,000)
ntfllnt. at Colonial Trust Co., Pittsb., trustee.
These bonds were purchased by the Duquesne Light Co. in April 1916.
EARNINGS.—For year ending
Dec. 31 1918, gross, $236,882; net,
after taxes, $57,616; other income, $24,570; interest on bonds, &c., $10,240:
deprec., $35,000; surplus for year, $36,947.
-
— -
ARTIFICIAL
Consolidated
(1)
Gas
Co.
All the common, $148,100 of
GAS.
of Pittsburgh.
the pref. stock, and practically all the firs*
mortgage bonds are owned by Philadelphia Co.
The Consolidated Gas Co. operates! under a perpetual
the Allegheny
charter and with
Illuminating Co. and the South Side Gas Co. constitutes the
only gas-manufacturing companies in the city of Pittsburgh and the exclu¬
sive right to manufacture illuminating gas is vested in them.
These com¬
panies discontinued operations in June 1919.
Owns entire $2,000,000 stock and $2,000,000 bonds of the Allegheny
Illuminating Co. and pledges them under its first mortgage.
Default.—Int. due Feb. 1 1916 on the 1st M. 5s was defaulted.
Deposit
of bonds has been called for by the following committee: C. S. W. Packard,
Chairman;
A.
C.
Robinson,
Thomas
S.
Gates,
B.
Howell Griswold Jr., D. H. Hostetter and T. G. Daub;
Sec., E . L. Brantlgam, 517
Chestnut St., Phlla.
Depositaries, Penn. Co. for Ins. on Lives & Granting
Ann., Phlla.. and Safe Deposit & Trust Co., Pittsb.
V. 102, p. 525,1989.
In Dec. 1918 holders of the 1st mtge. bonds were offered in exchange for
said bonds $925 of Philadelphia Co. 6% pref. stock for each $1,000 bond,
the exchange becoming effective upon the acceptance of this offer by holders
of at least 80% of the bonds and the withdrawal of the suit instituted as a
result of the default on these bonds noted above.
V. 107, p. 122, 92.
This
having been withdrawn, and all but $122,000
value of bonds having been exchanged up to Sept. 1 1919.
plan has been carried out, suit
par
STOCK AND BONDS—
Oommon
Dale.
Outstanding.
Interest.
Maturity
$4,000,000
4 F-A
2,000.000 Aug'19, 2
1898
5 g F-A
5,000,000 Feb 119
tflMaryland Trust Co., Baltimore, Trustee.
payable at Brown Bros. & Co.. N. Y.. and Alex. BrowE
$4,000,000 ($50).
Pref 4% cum $2,500,000 ($50)
First
mortgage
$5.000.000f
'$1,000)
Int.
on
gold
bonds Is
& Sons. Baltimore.
EARNINGS.—For year end.
taxes
1918, gross, $87,615; net, after
$76,951: interest on bonds, &c., $352r
Dec. 31
(loss), $105,189: other income,
$380,639.—V. 102, p. 525, 1989; V. 107, p. 2292, 2378.
(2) South Side Gas co,
1.5.751 shares of stock are owned by the Philadelphia Co.
ORGANIZATION.—Incorporated Jan. 25 1882 In Pennsylvania.
Stock
authorized and issued, $500,000 ($25).
402; deficit for year
WATER POWER CO.
ORGANIZATION.—Incorp. July 11 1911 in W. Va. as the Black River
Water Power Co.. but in April 1912 was reorganized and capital increased
and name changed to above title in accordance with plan of American
Water Works & Guarantee Co. (now American Water Works & Electric
Co.) in V. 94, p. 984.
(See also detailed statement of that company in
V 95 p. 1537.) Owns entire common stock of the West Penn Railways Co.
STOCK—
Div. Paid.
Outstanding. Last Div'a.
Common $22,500,000 ($100)-.
.$22,054,700 ---—i
Pref $8,500,000 ($100) 6% cum
_
Q-M 15
8.054.70O May'20, 1H
$15 898,700 common and $4,649,500 pref. stock Is owned by American
Water Works & Electric Co.
Dividends.—On pref.. 1H% quarterly from organization of company to
and including March 1914.
None to March 1917. when 1H% quarterly
was again resumed.
V. 104, p. 864.
Accumulated divs. in arrears, 16H %
OFFICERS.—Pres.. A. M. Lynn; V.-P.. JT. L. Mitchell; V.-P. & Sec.
Ravmond B. Keating; Treas. & Asst. Sec.. C. C. McBride; Asst. Sec., W. K
WEST PENN TR AC. &
,
vJl04
2524;
Treas., C. F. Kale; Aud., M. W.
1704; V. 105. p. 1523; V. 107. p. 2471,
109, p. 1177. 2173.
Asst.
Dunbar-
p.
V.
Ill
ELECTRIC RAILWAYS
APR., 1920.J
Glover, Pittsburgh.—
2478; V. 108. p. 2249
WEST PENN RAILWAYS CO.—(See Map, page 112.)
of com. stock is owned by the West Penn Trac. & Water Pow. Oo.
All
and $281,800
pref. stock is owned by the Amer. Water Works & Electric Co.
ORGANIZATION.—A consolidation on May 23
1917 of the old West
Railways Co. with the Brownsville Street Ry. Co., Greensburg &
Co., Latrobe St. Ry. Co., Lntrobe-Hecla St. Ry.
Co., Masontown-Morgantown St. Ry. Co., Pitteburgh McKeesport &
Connellsville Ry. Co., Union town Radial St. Ry. ( o. and West Penn
Interurban Ry.Co. (all of the capital stock of which corporations had been
owned by the West Penn Rys.), and with the West Penn Traction Co.,
McKeesport & Irwin Ry. Co., Pittsburg McKeesport & Greensburg Ry.
Co. and White Electric Traction Co. (for terms of consolidation see V.
Penn
Southern Electric St. Ry.
104, p. 1704).
Pref. stockholders of West Penn Traction Co. and the old
given the right to subscribe for 25% of their
West Penn Railways Co. were
present holdings in additional new pref. stock at $82 per $100 share.
West
Penn Trac. & Water Power Co., owner of all the West Penn Traction Co.
com.
stock,
was
given the right to subscribe for
$1,544.700
new coin,
stock
Owns all of the capital stock of the Allegheny Valley St. Ry. Co
Kittanning & Leechburg Rys. Co., Oakdale & McDonald St. Ry. Co. and
Pittsburgh & Allegheny Valley Trac. Co., and operates the last three under
lease.
Also owns practically all of the capital stock of the Wheeling Trac¬
tion Co., and ail of the stock of Steubenville Wellsburg & Weirton Ry. Co.,
the Steubenville Ry. Co., the Brooke Elec. Co., Wellsburg Eiec. Lt., Ht.
& Power Co., Hancock County Elec.'Co., and the West Virginia Power &
Transmission Co.,"'successor owner of water power rights and properties
of Hydro-Electric Co. of W. Va.; also all of the common stock of the West
Penn Power Co.
In addition the West Penn Rys. Co. controls the Steuben¬
at par.
Bridge Co. through ownership of the majority of its common stock
ownership of the W. S. & W. Ry. Co., which owns the majority of its
pref. stock.
*/v.:
"
N'
"
1
Franchises are almost all perpetual.
Practically all track and trans¬
mission lines outside of municipalities are on private right-of-way.
Fare Increase.—In April 1918 filed with the P. S. Comm. a new fare sched¬
ule providing for an increase in fares from 5 to 6 cents, effective May 11 1918.
Effective Jan. 27 1919, new tariff went into force, increasing the number
and changing the limits of the previously established fare zones.
The co.
ville
and
has reduced fares from 6 to 5 cents per zonp.
Date.
STOCK AND BONDS.
Common $10,000,000 ($100)..
Pref 6% cum $10,000,000($100)
1st & ref M gold
W P Tract 1st M
interest.
Q—M
Outstanding.
Maturity.
$8,054,700
7,365,300 Mar '20,1^
5%
$25,000.000\_1910
5"251,500 June" l" I960
5 g J-D
gold ($1,000 & $500)..c*tf/Int. at Equitable Trust Co., N Y., trustee.
Old WP Rys 1st M $6,000,000/ 1905
5 g A-O
5.667.000 Jan
11931
($500 & $1.000)
c*tf\Int. at Equitable Tr. Co., N. Y., Trustee.
1910
5 g A-O
2,926.000 Jan
1 1931
Coll tr M $6,000,000 gold!
($1,000,$10,000&S50.000) rl Int. at Equitable Trust Co.New York, Trus.
P
McK
&
C
1st
mtge|
con
1901
5 J-J
2,912.000 Jan
11931
$3,500,000 ($1,000) gold.. Interest at Colonial Trust Co., Pittsburgh.
Trustee.
Cannot be called
tfl
1902
5 g J-J
175,000 Jan
1 1932
Con Sub St Ry mtge ($175.-1
000 guar p. & i
tfl Int. at Colonial Trust Co.,Pittsb., Trustee.
1898
6 J-D
27,500 Dec
1 1928
Kitt & Ford C 1st M $50,000 f
gold ($1,000)
c*\Pittsburgh Trust Co., Pittsburgh, Trustee.
Alleg Vail St 1st & coll tr M
1906
5 g F-A
1,680.000 Feb 1 1936
$2,000,000 g not redeema-lInterest at Union Trust Co., Pittsburgh,
ble ($l,000)--_
c&rtf(
Trustee.
Versailles Traction Co first! 1897
6 g M-S
88,000 Sept. 1 1927
mortgage gold
Jlnt.at Pittsburgh Trust Co.,Pittsburgh, trus.
Oakdale & McD St Ry 1st Ms/ 1906
5 J-J
60.000
Jan 1 1937
g gu p&i by W P Rys.ntfllnt. at Colonial Tr. Co., Pittsburgh, trustee.
Pitts McK & G 1st M $1.-|
1901
5 g J-J
1,500.000 July 1 1931
500,000
($l,000)--cannotUnt. at Harrisburg Tr. Co., Harrisb. Tr. or
tfl
Manufacturers' Tr. Co., Providence, R. I.
Hydro-Electric Co. of West Va.—
be called
First
mortgage
1913
5 g A-O
See text April 1 1953
lint, at Farmers' Ln. & Tr. Co., N. Y., trust.
$25,000,000/
Preferred Stock.—After 1918 no div. can be paid on the com. stock unless
ln addition to payment of the pref. stock divs. in full, there has been re¬
served annual!v an amount equal to 3% on the then outstanding pref.
stock.
No additional pref. stock can be issued at any time unless the
earnings applicable to pref. divs. are twice the annual requirements there¬
for, including the proposed issue.
Stock is preferred as to assets and divs
Pref. stock is listed on the Louisville and Pittsburgh
and is callable at 105.
exchanges.
Bonds.—Of the
V
West Penn. Traction Co. 1st M. bonds, $9,175,000 are
reserved to retire the bonds of constituent companies and balance for exten¬
sions and betterments at 90% of cost.
As additional security all the out¬
standing coil, trust bonds of 1910 of West Penn Rys. and other securities
are deposited under the mtge.
Through this deposit these bonds are
on the properties of the subsidiary cos. , subject to the outstanding
underlying issues.
$591,000 are held in treasury.
Bonds are not subject to
call,
Tax-exempt in Pennsylvania.
See description of bonds and prop¬
erty in V. 92, p. 597.
The West Penn Railways Co. 1st mortgage bond's
of 1905 are not subject to call.
They are tax-free in Pennsylvania.
Listed on Philadelphia, Louisville, Pittsburgh and Baltimore Stock Ex¬
changes.'
$500,000 P. McK. & C. 1st consols are reserved for extens. and
impts., and $88,000 to retire sub. co. bonds.
The Connellsville Sub.
bonds were guar., p. & L, by the
Pittsb. McK. & Connellsville Ry.
and are callable at 105 and int. on 30 days' notice.
Tax-free In Penn.
All the W. P. Rys. coll. trust bonds are owned by co. and are on deposit
owned
secured
as
part security for
W. P. Trac. Co. 1st M. bonds.
McDonald bonds owned by West Penn Rys. Co., not
$90,000 Oakdale &
Included in amount
reported outstanding.
Int. Is payable at agency of company in N. Y.
City.
Callable at par.
Tax-exempt in Pa.
$10,000 Alleg. Valley St.
Ry. 1st M. bonds (not Included in amount outstanding) are held in treasury
of West Penn Rys., are secured by a pledge of entire capital stock of the
Alleg. Valley Light Co.
Hydro-Electric Co. of W. Va.—Of the 1st M. bonds of 1913. $2,172,000 are
outstanding and are all owned by the West Penn Rys. Co.; balance de¬
livered to trustee.
Dividends.—Divs. on pref. stock were begun Sept. 15
1917.
EARNINGS.—For years ending Dec. 31 (including subsidiaries):
Fixed Charges,
Balance.
12 Months to
Gross Earns.
' Net after
Divs. (Sub.Cos.)
Surplus.
Dec. 31—
(all sources).
Taxes.
$2,114,946
$1,347,822
1918—$9,352,905
$3,462,768
—
1917
-
7,525,841
-----------
3,031,615
1,895,758
1,135,857
miles of track, 476.CO
pole miles high-tension transmission lines aud serves over 90 cities and towns
having street lighting contracts in majority of municipalities served.
The territory covered includes Fayette,
Westmoreland, Green, Wash¬
ington. Allegheny. Butler and Armstrong counties in Pa.; Hancock,
Brooke, Ohio and Marshall counties in W. Va., and Jefferson and Belmont
OPERATIONS, &c.—Owns or controls 339.25
counties in
Has 313 motor passenger cars, 20 non-motor passenger
Ohio.
3 trailers, 24 work cars, 7 express cars, 9 sweepers and 57 other cars.
70-lb. T rail in country and heavy girder rails in cities and towns.
Gauge
5 feet. 2!^ inches, and 4 feet 8H inches,
The towns served by the trolley
lines include Duquesne. McKeesport. Trafford City, Irwin, Jeannette.
cars,
Brownsville, Latrobe, Apollo, Leechburg. Ford
Kittanning, Natrona, Tarentum, New Kensington. Aspinwali and
Connects with Pittsburgh Rys. Co. lines at Trafford
City and McKeesport.
Greensburg, Mt. Pleasant,
City,
Intervening towns.
OFFICERS.—Same
p.
as
West Penn Traction & Water Power Co.—V. 106,
298, 608, 1037; V. 107, p.
2748; V. 108. p. 2242; V. 110, p. 1416.
Traction.—A trolley road.
control was acquired by the West Penn Traction Co.
(now West Penn Rys.), which owns over 99% of the stock.
ORGANIZATION.—Incorp. Sept. 1900 in W. Va.
Consolidation of the
Bellaire Bridgeport & Martins Ferry Street Railway Co., the Moundsville
Benwood & Wheeling Railway Co. and the Wheeling Railway Co.
Owns
entire capital stock of and operates Bellaire South-Western Traction Co,
and Wheeling & Western Ry. Co.
Owns entire capital stock of and op¬
erates under lease the Steubenville & Wheeling Trac. Co. and Pan Handle
Trac. Co.; also operates under lease Steubenville Wellsburg & Weirton Ry.
Co. and the Steubenville Ry. Co.
Controls Wheeling Bridge Co.
In Jan. 1911 increased auth. stock from $2,000,000 to $2,500,000.
Greater part of franchises perpetual.
(a)
Wheeling
On Oct. 1 1912
Fares.—In June 1918 applied to the West Va. P. S. Comm. for auth. to
make
until
In
a
general increase in fares, but increased rates did not become effective
May 29 1919.
1919 the
Dec.
system not
being
a
co.
ceased operating in Wellsburg, W. Va., the local
paying proposition.
See also V. 110, p. 563.
112
ELECTRIC RAILWAYS
[Vol. 110.
Apr., 1920. |
ELECTRIC
STOCK AND BONDS—
Stock $2,500.000 ($100)
Wheeling
Traction 1st
$2,500,000 ($1,000,
gold
Date. Interest.
Outstanding. Last div., &c.
$2,336,300
See text
mtgef
1901
5 g J-J
2,500,000 Jan
1 1931
$500){lnt. at Cleveland Trust Co., Cleveland, trus.
c*tf I
and Int. at Nat. Bk. of Commerce, N. Y.
gold 5s $10,000,0001 1913
5 J-J
170,000 Jan
11943
c&r\Int. at Colonial Trust Co.. Pittsburgh, trus.
Equip, trust notes ($40.000)__ Dec 1 1916 5M
20,000
See text
Equip trust notes $125,000
1918
6 M-S
87,000
See text
Wheeling Bridge Co $200,000/ 1890
5 g J-J
200.000 Jan
11921
1st M cannot be called.ntf lint. at Fidelity T. & T. Co., Pittsb., Trustee
Panhandle Tract Co 7%
stkf 1918
7% D-J
309,530 Dec 1 1921
purch notes call at oar.ntf lint. at Dollar Sav. & Tr. Co.. Wheel'g, Trus.
Wheeling Bridge Co 6% stk f 1913
6% F-A
162,566 Feb
1 1921
purch notes call at par__tf\Int. at Dollar Sav.j& Tr. Co., Wheel'g, Trus.
Wheeling & Western Ry Co] 1906
5 g M-N
235,000 May 1 1926
1st M 5s $500,000 ($1.000)(Guar., p. & i., by Wheeling Traction Co.
RAILWAYS
thereafter to and incl. Dec. 1 1923, and at 100 and int. thereafter to mat¬
urity.
Int. payable in N. Y. or Chicago.
Tax-exempt in Pennsylvania.
V. 109, p. 2446.
Dividends.—Divs. on pref. stock have been paid since organization.
EARNINGS.—For years ending Dec. 31:
Net aft.
Fixed
Pref.
Gross.
Taxes.
Chgs.
Divs.
80-Year
Red
102
at
Bellaire
S
W
Tr
c*_ntf)Int. at Dollar Sav.&Tr. Co., Wheel'g,Trus.
Co
(
Guar., p. & i., by Wheeling Traction Co.
Mf 1906
5 g M-N
65.000 Nov 1 1926
r&c*(Int. at Dollar Sav. & Tr. Co.. Wheel'g, Trus
(Guar p. & i. by Wheeling Traction Co.
1st
$500,000 ($1.000)
Red. at 102 and Int.
Bonds.—First mtge. bonds are red. on any int. day at 105 and interest
upon 30 days'notice.
V. 95, p. 619.
The 30-yr. gold 5s bonds are for re¬
funding the $2,500,000 1st M. bonds and for extensions and betterments.
Red. at 105 and accrued int. at any int. period.
V. 96, p. 1491.
The
$170,000 outstanding are all owned by the West Penn Rys. Co.
The
Wheeling Bridge Co. 6% stock purchase notes originally matured on Feb. 1
1918, but were renewed for 3 years.
Are secured by a deposit of $204,500
Wheeling Bridge Co. stock.
The Panhandle Trac. Co. stock purchase
notes originally were 6s, and matured Dec. 1 1918, but were extended for
3 years at 7%.
Are callable at par.
The equipment trust certificates of
1916 were for the purchase of 8 new P.A.Y.E cars costing $43,698,
They
mature $4,000 semi-ann.
(J & D 1) up to and incl. Dec.. 1 1921.
The
equip, trusts of 1918 mature $12,000 each Sept. 1 and $13,000 each Mar. 1 up
to and incl.
1923.
Dividends.—First div., 1%, was paid Jan. 10 1903, and 1% was again
paid July 1 1903.
None to July 1909, when 1% was paid; in 1910, 4%; in
1911, 4%.
In 1912, 1913 and 1914, 5% each.
In Jan. 1915
and
same
Mar. 1
amount
(1)
Steubenville
8c
Wheeling Traction
STOCK AND BONDS—
Stock
Date.
Interest.
gold\ 1905
5 g M-N
Outstanding.
$500,000
$650,000 ($100)
First mtge $650,000 guar
($1,000)
Maturity.
533.000 May 1 1935
Tr.Co.,Wheeling,trust.
ntfflno. at Dollar Sav. &
8teub Mingo & Ohio Val
lstM\ 1900
5 g J J
117,000 Jan 1 1920
($l,000).c* ntf/Int. at Equitable Trust Co., N. Y., trustee.
Bonds.—-Of the $650,000 new bonds. $117,000 are reserved for prior liens.
Are subject to call at 102 and int.
They are guar., prin. & int., by Wheel¬
ing Trac. Co.
Entire issue of Steubenville Mingo & Ohio Valley bonds
Is subject to call at par and int. on 3 months' notice.
$150,000
g
ROAD.—Steubenville to Brilliant and Wheeling to Rayland, 15.42 miles
of track.
Gauge, standard and 5 ft.
located at Brilliant.—V. 81, p.
(2)
ution lines in cities and towns.
Company also leases the power plant of the
West Penn Rys. Co. at Connellsville, Pa., generating capacity 56,500 k.
w.;
also a small plant of 3.750 k. w .capacity; 27 miles of 132,000 volt steel
tower transmission line is under construction.
The new power station
under construction at Springdale will, when completed, increase the co.'s
generating capacity by 40,000 k.w.
Of the installed capacity owned,
30,000 k.w. consists of the co.'s half of the initial installation (placed
in operation Dec. 1917) of the new generating station at
Windsor, W. Va.,
constructed jointly for the co. and the American Gas &
Electric
Co.
(see V. 106, p. 298).
OFFICERS.—Pres., A. M. Lynn; V.-Ps., Williston Fish, G. M. Gadsby
and J. S. Jenks; V.-P. & Sec., Raymond B.
Keating; Treas. & Asst. Sec.,
C. C. McBride, Pittsburgh; Aud., M. W. Glover.—V.
1751, 1925, 2296, 2482; V. 108,
PITTSBURGH
POWER CO.
23^
in.
13
cars.
Power house is
1101.
BUTLER &
HARMONY CONSOLIDATED RY.
&
Delaware.
in
Has acquired $2,745,000
of the $3,000,000 capital stock of the Pittsb. Har. Butler & Newcastle Ry.
Co., all of the $1,000,000 capital stock and $200,000 of the $900,000 1st
M. bonds of the Pittsburgh Mars & Butler
Ry.
3,285 shares
cap. stock of the North
In March
1920
an
Co. and 1,900 shares of the
Pittsburgh Realty Co.
announcement was made of
a
which $1,000,000 com. stock will be set aside under
the benefit of the co's. employees.
V. 110, p. 1416.
Date.
Interest.
Common $4,500,000
Preferred $2,000,000-
profit-sharing plan by
trust agreement for
a
Outstanding.
$4,500,000
2,000,000
„
Maturity.
_
OFFICERS.—Pres., David I. McCahill; V.-P. & Gen. Mgr., H. Etheridge; Treas., R. M. Glick.—V. 109, p. 1274; V. 110, p. 1416.
1
/
Pittsburgh
Mars &
Butler Ry.
ORGANIZATION.—Successor
to
the
Pittsburgh & Butler St. Ry., the
interurban division of the Pittsburgh & Butler Ry., which was sold at fore¬
closure May 9 1917 (V. 104, p. 1900).
On Sept. 5 1917 made a mortgage
to the Dollar Savings <Si Trust Co.,
Pittsburgh, securing an issue of $1,250,000 bonds to provide for improvements, &c.
Pittsburgh Butler &
Harmony Consol. Ry. & Pow. Co. owns all the $1,000,000 stock of the co.
and $200,000 of its 1st M. bonds.
The old Butler Passenger Ry., the City
Division of the Pittsburgh & Butler Ry., was taken over by the 1st M. bond¬
holders and reorganized as the Butler Rys. Co., which see under
"Butler,
Pa."
,'r.
Fares.—-On Nov. 27 1918 filed
:
a new
fare schedule with the Penna. P. S.
Comm., effective Dec. 27 1918, providing for a passenger fare of 6 cents
per zone.
Increases in package and freight rates were also provided for.
Earnings.—For cal. yr. 1919, gross, $390,402; net, $32,703; int. & taxes,
$62,167; bal., def., $29,464.
OFFICERS.—Same as Pitts. Butter & Harmony Consol. Ry. & Pow. Co.
above.—V. 105, p. 998; V. 106, p. 1578, 2346.
Panhandle Traction Co.
Owned, leased and operated by Wheeling Traction Co.
Incorporated May 24 1900 in West Virginia.
In Jan. 1906 control was
now owns entire stock.
107, p. 808, 1486,
1827, 2237, 2248; V. 109, p. 1899, 2446.
p.
ORGANIZATION.—Incorp.
(1)
by Wheeling Traction Co.
1ZATION.—Incorp. May 1901 in Ohio.
In Sept. 1905 acquired
by deed all the property of the Steubenville Mingo & Ohio Valley Trac. Co.,
subject to the bonds of that company in table below.
V. 81, p. 1101.
Surp.
1,966,900 82i, 105 (7)192,500 (7)700,000 253,295
.4,000,349
1,488,113 707,910 (7)148,896 (6)600,000
31,305
PROPERTY.—Includes 6 electric generating stations, installed capacity
33,970 k.w.,89 sub-stations (transformer capacity 114,575 k.w.),and458
pole miles of high tension transmission lines, exclusive of low tension distrib¬
Co.
and operated
ORGAN
Bal
Divs.
1918 —-—5,702,027
STOCK.--
ROAD.—Ownn or controls and operates 87.73 milesoftrackin Wheeling
suburbs, extending to Barton, Shadyside, Ray land and Wellsburg,
Moundsville, Bellaire and Martin's Ferry.
Also has a line from Steuben¬
ville to Brilliant.
Gauge, standard and 5 ft. 234 in.
Has 175 cars. Power
station at Wheeling.
V. 106, p. 2759; V. 107, p. 2478; V. 110, p. 563.
Com.
1917
quarterly since.
and
Owned
113
Pittsburgh
(2)
Harmony Butler & New Castle Ry. Co.
ORGANIZATION.—Is
consolidation
a
in
1906
of several small
com-
acquired by the Wheeling Traction Co., which
Sanies. Bridge all the cap.Feb. 1910 authorized stock Co. and the ElwoodOwns Co. In stock of the Harmony Elec.
(appel
increased from
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock $500,000 ($100)
$500,000
FLvjt mortgage $500,000 goldl
1902
5 g A-0
500,000
Oct. 1 1932
($1,000 and $500)—c*ntf lint, at Columbia Tr. Co., N. Y.. trustee.
$3,000,000 to $3,500,000.
Pitts. Butler & Harmony Consol. Ry. & Pow.
owns $2,745,000 of the cap. stock.
Fare Increase.—In Dec. 1918 rates on through tickets were increased
from 20 to 50%.
V. 107, p. 2377.
In Dec. 1919 commutation fares and
freight rates were increased.
Bonds.—Are subject to call on any int. date at par
and int.
on
30 days'
was
Co.
.
notice.
ROAD.—Operates 19.19 miles of track from Wheeling to Lazeareville,
mostly on private right of way.
County franchises are perpetual.
17 cars.
Standard gauge; 70-lb. T and 90-lb. girder rail.
WEST
PENN
STOCK AND BONDS—
POWER CO.
ORGANIZATION.—Incorp. In Pennsylvania March 1 1916 as a merger
of 53 cos., consolidating under a Single fee ownership the principal electric
light and power properties within the State of Pa. formerly owned by the
West Penn Trac. Co. (now Westi.Penn Railways Co.).
The entire common
stock is owned by the Railways Co.
Also controls, through ownership of
entire stock, the Butler Light, Heat & Motor Co. and the Butler Ice Co.,
a subsidiary of the Butler Light, Heat & Motor Co.
Does a general electric lighting and power business, serving some 78 cities
and towns in the territory
surrounding Pittsburgh, Pa.
Franchises, except
in the opinion of counsel unlimited in duration.
Govt. Advance for Power Plant.—In Aug. 1918 the co. agreed to build a
40,000 k.w. station in the Allegheny Valley to help out the power situation
in the Pittsburgh district which had proven inadequate to meet the Govern¬
ment's needs.
The cost of the plant and transmission lines will aggregate
about $5,000,000. of which the Ordnance Dept. will advance $2,000,000
and the co. will provide the other $3,000,000.
In Dec. 1918 the co. brought
out an issue of $3,000,000 series "C" 1st M. 6% bonds for this purpose.
V. 107, p. 2296.
Provision is made for repayment to the Govt. 3 years
after the war of such part of the Government's advance as represents the
excess of the appraised reduplication cost as of that time over the $3,000,000
contributed by the co.
V. 107, p. 702: V. 109, p. 2446.
In Oct. 1918 it
was announced that construction work had been begun.
V. 107, p. 1486.
In July 1918 issued $2,223,000 1st M. series "C" 6% bonds proceeds
being used in the retirement of $2,000,000 6% coll. notes due Aug. 1 1919,
and called for redemption on Jan. 1 1919 at 10013 and int., and for impts.,
betterments and extensions.
V. 107, p. 403, 1925.
All the $1,143,500 outstanding 7% coll. trust notes due Feb. 1 1920 were
called for payment on Dec. 10 1919 at par and int.
V. 109, p. 1899.
Part
of the proceeds from the sale of the $2,500,000 6% conv. debentures,
brought out in Dec. 1919, were used in this connection and the remainder
for construction purposes.
V. 109, p. 2446.
are
STOCK AND BONDS—
Date.
Year—
Slock.—Pref. stock Is red.
dividend date
as
j.
any
Bonds.—The
after Mar.
bonds
upon
are
a
a
whole
M.
on
or
in part at 115 and accrued div
all
the
1 1921 at 105 & int. on 4 weeks' notice.
Int. payable at
Equita¬
Rank, Chicago.
Taxin part beginning June 1
ble Trust Co., N. Y., or Cont. & Comm. Tr. & Sav.
exempt in Penna.
The series "C" 6s are red. all or
1923 on the 1st day of Mar., June, Sept. or Dec.
upon
4 weeks'
notice
at 106 and int.
V. 107, p. 403. The mtge. provides for an annual ex¬
penditure for maintenance as follows: 1916-20, 113 % of bonds out; 1921-25,
2%; 1926-46, 213%; also for a depreciation fund of 2% of bonds out begin¬
ning with 1916 for additions, Impts., &c.. against which no first mtge
bonds may be issued.
V. 102, p. 891.
Both series "A" and "C" are listed
on N. Y. Stock Exchange.
Compare V. 108, p. 1827.
The 5-yr.
6% debentures are convertible at holder's option into 7% cum.
pref. stock of the co. at any time between Dec. 1 1920 and Deci 1 1924, in
30 days' notice at 101 and int. to
Surplus.
$364,265
190,550
393,890
ROAD.—Operates 68.5 miles of track from Pittsburgh, via Wexford,
City, Harmony and Ellwood City, to New Castle, with a branch from
Evans City to Butler.
Enters Pittsburgh over the tracks of the Pittsburgh
Rys. Co.
On Dec. 3 1913 placed In operation an extension from Ellwood
City to Beaver Falls,
miles.
OFFICERS.—Same
as
Pitts. Butter & Harmony Consol. Ry. & Pow. Co.
above—V. 107, p. 2377; V. 108, p. 2529; V. 109. p. 1274.
plattsburg, n. y.
PLATTSBURG
Delaware &
TRACTION
Hudson Co.
CO.—A trolley road.
entire stock and bonds.
owns
ORGANIZATION, &c.—Chartered May 27 1896.
Franchise 50 years
from Nov. 20 1895.
Capital stock, $100,000 (par $100).
First mtge. 6%
I.
foldY., trustee;1896. due 1926; Int. J. issued, $80,000.
bonds of authorized. $100,000; & J. (tf) at Continental Trust Co.,
in
Dividends.—Annual div. in (Jan.) 1910. 4%; in 1911. 5%; In 1912. 6%
1913. 5%; in 1914, 4%; in 1915. 4%.
None since.
EARNINGS—
Gross
Net
Other
Earnings.
Income.
Taxes &
Balance,
Charges.
Surplus.
$8,306
$3,862
612
8,326
1,695
Dec. 31 1917-38.878
10.462
519
8,133
2,848
ROAD.—Owns 7.53 miles of track: rail, 50 to 80-lb. T.
OFFICERS.—Pres., L. F. Loree; V.-Ps., W. H. Williams, N Y., W.
B. Schofield and H. 13. Weatherwax, Albany; Sec., F. M. Olyphant; Treas.
& Gen. Mgr., H. L. Barber, Plattsburg; Cornp., W. E.
Eppler, N. Y.
Year Ending—
Earnings.
Dec. 311919
$37,766
Dec. 31 1918------ 33.907
$11,416
9,409
$752
—...
plymouth, mass.
BROCKTON & PLYMOUTH STREET RAILWAY.
ORGANIZATION.—Chartered on Jan. 3 1900 as the Pembroke St/ Ry.
In
Sept. 1900
In
intervening towns.
In Feb. 1907 Mass. RR. Commission granted
authority to do a freight business In the towns of Whitman, Hanson and
Pembroke.
Franchise perpetual.
Financial Aid.—In Jan. 1919 the Mass. P. S. Comm., upon petition of
the towns of Hanson, Kingston, Pembroke and Plymouth, auth. them to
contribute to the cost of operation and fixed charges of the co. to not exceed
$1 per thousand of the preceeding years assessed property valuation.
V. 108, p. 478.
Compare V. 108, p. 76.
Fare Increase.—In Dec. 1918 the co. notified the Mass. P. S. Comm. that
1 1919 it would increase fares from 6 to 10 cents.
V. 107,
effective Jan.
p.
2475.
STOCK AND BONDS—
Stock
com
Date.
Interest
Outstanding.
$295,000
$295,000 ($100)—
Pref $110,000 ($100) 6%
Maturity.
cuml
(redeemable at 112)-First mortgage $300,000
6 M-S 15
1
110,000
See
text
goldI 1§00
260,000 Dec 1 1920
4}4 g J-D
($1,000)
c*r_ntf/Int. at Old Colony Tr. Co., Boston, trustee.
Bonds.—$35,000 bonds in addition to amount reported outstanding are
_
held in treasury.
Dividends.—An initial dividend—3%—was
paid on pref. Sept. 15 1909.
Same amount semi-ann. to and incl. Mar. 1916.
EARNINGS.—For
Year—
1918
1917
or
consolidated with the Plymouth & Kingston Street Ry.
the
in part
Are red. all
was
and the Brockton & Plymouth Street Ry., and in Nov. 1900 name changed
above.
Does electric railway business from Brockton to Plymouth and
as
and incl. Dec. 1 1921; at 1003*3 and int.
the ratio of 10 shares of stock for each debenture.
on
$202,218
-
six months' notice.
1st
Int. & Taxes.
Net.
—
Evans
Q-Fl
See V. 102, p. 2082
physical property, rights
and franchises now owned or hereafter acquired and on the capital stock and
all the indebtedness except current operating accounts of the Butler Lt.,
Ht, & Motor Co.
The company covenants to construct1 or acquire not
later than Jan
1 1921 a new power plant or plants having an aggregate
generating capacity of not less than 40,000 k. w.f to be subject to the 1st
M. lien of these bonds.
Additional bonds may be issued at par for 75%
of the actual cost of permanent impts., additions or extensions under cer¬
tain restrictions.
Series "A" bonds are red. as a whole or in part on or
on
Gross.
$1,109,422
657,683
Nov. 30 1918
Interest.
Outstanding.
Maturity
$10,000,000
2,900.000 May 20.1H
First mtge gold series
"A"
1916
5 M-S
8.500,000 Mar 1 1946
First mtge gold series
"C"/ 1916
6 gJ-D
5,223,000 June 1 1958
($1.000)
...-c*&r*tf\Equitable Trust, Co., New York, trustee.
5-year conv debs $2,500,000/ 1919
6 g J-D
2,500,000 Dec. 1 1924
($1,000) gold.
__|_._c*tf [Chase National Bank, N. Y., trustee.
Common $10,000,000 ($100)
Pf 7% cum $10,000,000 ($100)
gold/
EARNINGS.—For 12 months ended:
Nov. 30 1919-.-
in communities from which the company derives less than 3% of its gross
earnings,
Date,
Interest.
Outstanding
Maturity.
$3.000,000
1906
5 g J-D
2,900.000 June 1 1936
($1.000)
c*tfllnt. at Union Trust Co., Pittsburgh. Trustee
Bonds.—The $600,000 unissued are reserved for future extensions.
Stock $3.500,000
1st
mtge
$3,500,000
12
None since.
months
ending Dec. 31:
Gross.
Exp.&Tax.
Net.
$101,430
$116,318 df.$14,889
124,316
124,779
def. 463
Interest.
$16,833
14.755
Balance.
def.$31,721
def.
15i218
ROAD.—Plymouth through Kingston,
24.3 miles of track,
28 pass, and
man,
capacity of 825 k. w.
OFFICERS.—Pres., A. Stuart Pratt;
Pembroke and Hanson to Whit¬
9 other cars.
Standard gauge.
Power station
V.-P., Chas. I. Litchfield; Clerk
Stone & Webster
102, p. 1810; V. 103, p. 1031;
Henry 13, Sawyer; Gen. Mgrs..
Wm. T. Crawford: Treas.,
Mgt. Assn.; Mgr., Montelle C. Smith.—V.
V. 104, p. 1898; V. 107, p. 2475; V. 108, p.
pomeroy,
76. 478.
ohio.
RIVER ELECTRIC RY. & POWER CO.—A trolley
Receivership,—On Feb. 25 1919 Harry Hartwell was appointed
for the co. by the U. S. Dist Court.
road.
OHIO
receiver,
ORGANIZATION.—Incorp. in Ohio, 1914.
Old co. of same name, in¬
taken over by present co., subject to $315,000
all the capital stock ($30,000) of the Porneroy
Middleport Electric Co
Interest in Default.—The int. due Dec. 31 1918 on the co.'s 1st M. 5s
corp. In Delaware In 1900,
1st M. 5% bond Issue.
Owns
&
is in default.
STOCK AND
Outstanding.
$150,000
Interest.
Date.
BONDS—
$200,000
pref stock $300,000
Common stock
1st
EARNINGS.—For cal.
Year—
Gross.
Maturity.
150.000
315,000 July 11924
—
($100, f 1900
5 g J-J
c».ntf i Int. at Columbia Ave. Tr. Co.,
1st mtge $315,000gold
$500, $1,000)....
Phila.. Trust
years:
Net.
Oth. Inc. Int.&Taxes. Surplus.
$83,233 def.$2.005
$2,559
$31,785 def.$31,231
1918
108,943
1,967
2,063
23,375 def. 19,345
ROAD.—Owns and operates 12.65 miles of road extending through
Middleport. Porneroy, Syracuse and Racine, Ohio.
OFFICERS.—Pres., I. L. Oppenheimer; V.-P., F. W. Bacon; Sec.,
J. K. Trimble; Treas., Harry Williams Jr.
General office, Phila., Pa
—V. 99, p. 1301.
1919.
,
days' notice, and may at any time, with consent of owner, red. pref. stock
less than 115.
Pref. stock of the Portland Elec. Co. falls due and is paya¬
on Aug. 1 1926 at par and accrued dividends. ,
Bonds.—Of the remaining first and refunding mortgage bonds, $3,000,000
are reserved for prior liens, and $4,082,000 are for ext., impts., &c., under
certain restrictions.
Callable as a whole on any interest date at 105 and
interest on 60 days' notice.
Bonds have a depreciation and trust fund from
July 1 1915 of 1% per annum of bonds outstanding, but not less than
$20,000 a -year for purchase of bonds at not over 105 and int. or for replace¬
ments, extens. and add'ns.
Int. payable at A. B. Leach & Co., N. Y.
V. 95, p. 361.
Portl. El. 1st mtge. bonds are callable at 110 and accrued
int. on 5 weeks' notice as follows: Nos. 1 to 125 on and after Aug. 1 1911;
126 to 250 on and after Aug. 1 1916 and 251 to 375 on and after Aug. 1
1921.
Sinking fund of 1% p. a. of bonds out began Aug. 1 1911, inclusive
any bonds purchased
for or redeemed by sinking fund, $263,000 (not
included in amount outstanding) in sinking fund.
V. 90, p. 1243.
Of
the $2,500,000 York County Power bonds, $747,500 have been certified,
and are guaranteed by the Cumberland County Power & Light Co., and
of this amount $368,500 are outstanding in the hands of the public, $150,000
are in
the treasury of the Cumberland County Power & Light Co. and
$229,000 in treasury of York County Power Co.
Of the remaining $1,752,500; $719,500 are reserved for underlying liens and $883,000 for additions
Bonds are redeemable at 105 on any interest date
and improvements,
at
ble
bonds out began Dec.
El. Lt., $22,500
upon 6u days' notice.
Sinking fund of
of 1% of
1 1917.
V. 99, p. 1451, 1597.
$43,500 Agamenicus
Weils El. Lt. & Pow. Co. and $37,000 Kennebunk EL
the
to
amounts
York Co. Pow.
of the
Toledo
(V. 95, p. 48), which in April 1913 reduced
its capital from $1,800,000 to $1,500,000.
All of the $800,000 (authorized
and issued) com., $500,000 (auth. $700,000) pref. and $1,2.93,000 (auth.
$5,000,000) 1st M. 58 are owned by the General Gas & Electric Co., which
see in our "Ry. & Ind." Section.
Operates a high-speed interurban electric
railway between Toledo and Bay Point, connecting by ferry to Sandusky, O.
Electric light and power is furnished in Ryan, Curtis, Clay Center, Genoa,
Elmore, .Oak Harbor, Port Clinton, Gypsum, Danbury. Lakeside and Mar¬
blehead.
The power plant is near Port Clinton on the shore of Lake Erie.
*1919-.
Fares.—In July 1918 filed new tariffs providing for a passenger
rate of
EARNINGS.—For 12 mos. ending Dec. 31:
Deficit.
Net (aft. taxes). Interest.
Gross.
$14,332
1918
.....-.-..$348,515
$54,808
$69,200
43,554
1917
288,102
23,972
67,526
ROAD, <fec.—Operates 59 miles of track from Toledo to Elmore. Oak
Harbor, Port Clinton and Marblehead.
In addition operates a line during
the summer months to Bay Point, 3 miles east of Marblehead, thus making
direct connections with Cedar Point and Sandusky.
In Toledo operates
on about 3 miles of Toledo Rys. & Lt. track.
Standard gauge, 70-lb. T rail
-
10 pass. cars. 2 express motor cars, 34 non-motor freight cars;
V. 95. p. 48. 176.
OFFICERS.—Pres., W. S. Barstow; V.-P. & Gen. Mgr., F.
total, 46 cars.
K. Woodirng;
Treas., O. C. Swenson; Sec., C. N. Wilson; Asst. Treas. & Asst. Sec., C. G.
Cash; Gen. Mgrs;, W. S. Barstow Management Association.—V. 107, p. 83;
V.
108, p. 480.
_
port
7 cars.
M. F. Maury: Treas.,
158, 296; V. 99. p. 271.
OFFICERS.—Pres., Geo. H. Stephenson; Sec.,
p.
portland, me.
CUMBERLAND COUNTY POWER & LIGHT CO.
ORGANIZATION.—Incorp. in Maine March 14 1907.
On Feb. 1
leased for 99 years the Portland IiR. Co.
V. 94, p. 826.
In July
'
-
-
-
"
Orchard,
Portland, with lines to Yarmouth, Cape Elizabeth, Saco, Old Orel
Westbrook, Gorham and South Windham.
The electric light and power
...
Harbor,
Sanford, Springvale, ETeeport, Westbrook, Gorham; also gas in
business in Biddeford, Saco, Old Orchard, Kennebunkport, York
Alfred,
Biddeford and Saco.
Franchises.—The franchises
under
which
the
companies
operate
exceedingly liberal anu to have no burdensome restrictions.
Wage Award by National War Labor Board.—V. 107, p. 1977.
Fares.—In July 1918 the P. U. Comm. refused to grant a 6-cent fare
fare within the old city limits of Portland and an 8-cent fare to suburbs.
In the latter case the company was authorized to put into effect a 6-cent
fare and a rate of 2 cents per mile was fixed for riders to more remote
Effective June 16, 1919 the co. was auth. by the
fares in Portland and vicinity from 6 to 7 cents and
fare from 2 to 2 1-3 cents.
V. 108. p. 2433.
V. 107, p. 501.
P. S. Comm. to increase
to raise the
single
zone
AND BONDS—
Date.
Pref
$2,300,000
cum
1st
&
red at
($100)
Interest.
Q-M
Q-F
Common $2,700,000 ($100)
6%J
Outstanding.
Maturity
$2,696,800
Sept'17,1
2,300,000 May 18.1
120 & accr dlvl
ref mtge
$10,000,000/
($1.000)
Port El Co pref stk
gold
($100)6%cum(see
1912
c*tflEmpire
$500,000/
2,918,000 Sept 1
5 M-S
Tr. Co.
1942
N. Y.. Trustee.
500,000
Q-F
a
OFFICERS.—Pres., Wm.. M. Bradley; V.-Ps., P. G.
Jr.: V.-P. & Gen. Mgr., A. II. Ford: Treas.
Silliman
Gossler and Frank
& Clerk, Chas. F.
A. Pearson Jr.
Under management of E. W.
Mgt. Corp.—V. 107. p. 2097, 2376; V. 108, p. 2433; V. 109.
Berry; Sec. & Asst. Treas., C.
Clark & Co.
p.
268.
'1)
Railroad.—Trolley.
Portland
Lease.—Leased for 99 years from Feb. 1 1912 to the Cumberland
Lt. Co., lease providing for all interest and other current
Pow. &
div8.
tnd 5%
on
County
charges
capital stock,
J.OOU under laws of Maine.
1860 UUUW IdWi
Ab¬
ie Portland
properties of the Portland & Cape Elizabeth Ry., Cape Shore
& Cape Elizabeth
IU1N
ORGANIZATION.—Incorp. IVJLcirLJJ
—lULUrp. March
Uivvf AiN 1/jJ\ i
wrbed the
Ry., Cape Elizabeth St. Ry.,
brook Windham & Naples.
E)lec.
Portland & Yarmouth Ele
Ry. and West-
Franchises contain no objectionable restric¬
objt
Comm. auth. the co. to charge a
minimum cash fare of 10 cents.
6-cent ticket fare on all city lines with a
Auth. to establish a zone system, in order
to equalize the length of rides for
also granted.
V. 108, p. 269.
In Jan. 1919 the
State Supreme Court denied an injunction to restrain the company from
collecting a cash fare when no ticket is offered.
V. 108, p. 481.
the fares charged,
was
Interest.
Outstanding.
Maturity.
5 F-A
$1,999,000
See text
1901
3H g J-J
1,600.000 July 1 1951
($1,000 & $500) gold__c*tf I Int. at Portland Tr. Co, Portland, trustee.
First lien & cons $7,500,000
1915
5 g M-N
1,959.000 Nov 1 1945
gold ($1,000 & $500).c*tflint, at New York Trust Co.,trustee.
Bonds.—Remaining $1.400.000 first cons, (now 1st) M. bonds are pledged
as security for the first lien & cons. M. 5s.
Bonds can be called at par and
Int. on any int. date after July 1 1931.
V. 73. p. 139; V. 91, p. 871.
Of
the remaining first lien & cons. M. 5% bonds, $1,600,000 are reserved for
retirement of prior lien bonds, $197,000 are in the treasury and $3,941,000
for extensions, impts., &c. Outstanding bonds are secured by deposit of
$1,400,000 1st cons, (now 1st) M. 3j^s; are callable as a whole or in part
Date.
STOCK AND BONDS—
Stock $2,000,000 5% gu ($100)
1st cons (now 1st) $3,000,000/
int. date.
E1ARNINGS.—For calendar years:
Earninns.
Year—
1919_
1918
-
Dividends.
(5%).
tions.
$99,950
99,950
$247,720
$267,326
228,419
$1,513,500
1,216,358
Dividends
Deduc¬
Net (after
Taxes).
\ Gross
Calendar
238,724
Surplus
or Deficit.
def.$80,345
def. 110.255
stock prior to lease.
'03. '04. '05. '06. '07-T1.
-The following divs. are on old
'95-'99. '00. '01. *02.
Year.—
5
6%
Per cent.
ROAD.—Operates
6
3
3
3
3
106.6 miles of track, comprising the
Since.
5 yearly
3M 4 y'ly
entire street
railway systems of Portland and South Portland, with suburban lines to
South Windham, Saco, Westbrook, Cape Elizabeth, Gorham, Old Orchard
and Yarmouth, where connection is made with the Lewiston
Augusta &
222 passenger, 8 express and 46 others.
Two
plants with 4.550 k. w. capacity.
Dow; V.-P., Charles H. Prescott;
k Treas., Chas. F. Berry.—V. 106, p. 500; V. 108, p. 269, 481
Waterville St. Ry.
steam
power
OFFICERS.—Pres., Fred. N.
Clerk
are
stated to be
places.
containing
at 105 on any
1912
1912
ired all the
acquired all the properties, rights and franchises of Consolidated El. Lt. Co.
of Maine, Portland Lighting & Power Co. and Portland Electric Co., which
aine,
E
On Dec. 18 1912
cos. were previously controlled through stock ownership,
purchased capital stock of the Ossipee Valley Power Co.
On Feb. 1 1913
acquired practically alt the common stock of the York Power Co., con¬
trolling the York Lt. & lit. Co.
V. 97, p. 368.
Owns approximately onethird of the capital stock of the Androscoggin & Kennebec Ry. Co.
In April
1913 the Ossipee Valley Pow. Co. and the York Pow. Co. were merged,
forming the York Co. Pow. Co. Also controls the Westbrook EL Co. Does
entire electric light and power business of Portland and vicinity.
Through
subsidiary companies operates street railway systems of Portland and South
'
Waterville St: Iiy.
July 12 1917 the co. placed in operation the first
3,090 k. v. a. unit of a new generating plant on the
Saco River at Hiram FalN, which is to have an ultimate capacity of 20,000
k. v. a.
In addition, the co. owns or controls 5 hydro-electric power plants
on the Saco and Presumpscot rivers within 25 miles of Portland and 6 steam
power plants, combined capacity 26,010 k. w., with transmission lines to
Portland, covering entire city arid suburbs; also to Sanford, Me., aggregat¬
ing 108 m.
The single-track mileage of the controlled railways is 271
PROPERTY.—On
section,
maby are unlimited as to time.
Fares.—In Jan. 1919 the Maine P. U.
jervis, n. y.
88,
-
Lewiston Augusta &
*Excl.
tions;
PORT JERVIS TRACTION CO.
ORGANIZATION.—Incorporated In New York on June 1 1910 to take
over the railway business of the Port Jervls Elec. Lt.
Pow. Gas & RR.Oo.
•old at auction on Jan. 27 1909.
The Port Jervls Light & Power Co.
($118,000 stock. $188,000 bonds) was also Incorp. to take over the Hgbt
and power business.
The bonds of the Traction Co. are owned by the Light
6 Power Co.
STOCK AND BONDS—
Dale.
Interest.
Outstanding.
Maturity.
Stock $20,000
'
$19,985
Mortgage $70,000 gold
c*\
5 g A-0
70,000
1960
Int. pay. at off ice of trustee f Orange Co. Tr. Co.,MIddletown,N.Y..Trus,
Bonds.-— Subject to call at 105 on any Interest day
ROAD.—Operates 4.3 miles of track.
70-lb. T and 93-lo. girder rails.
O. C. Corwln; Mgr., Chas. C. Wagner.—V.
1918
Bal. for
Com.Divs.
$672,252 (6)$138,000 $144,414
859,074 (6) 138,000 def.71,338
$954,666
925,736
$2,768,600
3,226,900
ending Dec. 31;'
Interest Preferred
Ac.
Dividend.
Net (after
Taxes A
Gross
Earnings.
Year—
2Yi cents per mile.
1 1912 to
May 1 1918 dividend was paid
Dec. 1 1916; same rate quar.
None since.
Sept. 1917.
Cal.
Port Clinton & Lakeside Ry.
fund.
Dividends.—6%
May 1 1918, both incl.
None since.
The
In scrip.
Initial div. of 1% paid on com.
EARNINGS.—Of combined properties for year
NORTHWESTERN OHIO RAILWAY & POWER CO.
ORGANIZATION.—Incorp. in 1912 in Ohio to take over the
Yr.—
Col
1911 of 2% of gross income; $16,000 are hedd in sinking
p. a. was paid on the pref, stock from E'eb.
April 1
ohio.
clinton,
Lt. Co. bonds, in
reported outstanding, are held by the trustee
All three mtges. are closed.
Guar, by York
Go. PoVf. Co.; int. payable at Union S. D, & Tr. Col., Portland, trustee.
York Lt. & Ht. Co. 1st cons. ref. bonds have a sinking fund which began
addition
to
port
Cal.
[Vol. 110.
ELECTRIC RAILWAYS
114
See text
ANDROSCOGGIN
&
KENNEBEC
Cumberland County Power & Light
RY.
Co. owns approximately one-third
capital stock.
ORGANIZATION.—Organized early in 1920 as successor to the Lewiston
& Waterville St. Ry. as per reorganization plan outlined in V.
110, p. 1089.
The co. is now the owner of the properties formerly included
under the Lewiston Augusta & Waterville St. Ry. 1st & ref. mtge. (ex¬
cepting the franchise of the Turner line, which line we understand has
been taken over by the town of Turner,
V. 110, p. 1188, subject to the
underlying liens found in the table below.
Holders of each. $1,000 Lewiston Augusta & Waterville St. Ry. 1st & ref. bonds received in exchange
therefor $500 1st pref. and $581 2d pref. stock of the present co.
For
statement of predecessor co. see "Electric Railway" supplement of Nov.
of the co.'s
Augusta
151919.
Committee.-—Bondholders First & Refunding Mortgage Lewiston Augusta
Henry W. Cushman, Frank S. Silliman, Jr., EYank
& Waterville St. Ry.,
text)ntfiCL o. Bancroft, Portland, trustee.
1.906
5 g F-A
1,237,000 Aug 1 1926
($1,000) sink fd___c*tf J Int. at Portland Trust Co., Portland, Trus.
Portl Ltg & Pow first mtge J 1901
4M A-O .
500,000 April 1 1921
$750,000(cl'sd) ($l,000)ctf lint, at American Trust Co., Boston, Trustee.
Oonsol El Lt Co of Me 1st Mi 1900
4^g J-J
500,000 Jan 1
1925
($500 and $1,000) gold.c.tf [Int. at Union S. D. & Tr. Co., Portland Trus
Port Elec ColstM $1,500.0001
g
York County Power Co.—
46,000 July 1 1930
1910
Wells El Lt & P 1st Mc
tf
7,500 Jan 1
1930
5 g J-J
Kennebunk El Lt 1st M.c.ntf 1910
63,000 July 1 1930
York Lt & lit 1st Mtge gold, 1900
4^g A-0
109.000 Oct 1
1920
(closed) ($500)
c_ntf\ Int. at Un. S. D. & T. Co., Portland, Trus.
do
do
1st cons ref mtge
1907
5 A-0
375,000 April 1 1927
(closed) ($500 & $l,000)ctf Int. at Un. S. D. & T. Co., Portland, Trus.
York Co Pow 1st & ref M $2,1913
5 g J-D
368,500 Dec 1 1943
500,000 ($500&$l,000)c*tf Int. at Portland, Me., and N. Y. City.
Agamenticus El Lt 1st M.c.tf 1910
.
5 g J-J
5 g J-J
.
_
,
_
_
.
York Co Pow pref stock cum J
(guar by C C P & L)
1
Stock.—Both classes of stock
Fidelity Tr. Co., Portland, Me., Trustee.
6 Q-J
383,000
Guar.
are listed on the Boston Stock Exchange.
The company has the option at any time to redeem all or
part of the Portland Electric Co. pref. stock at 115 and accr'd div. on 15
V. 95. p.
1206.
Fidelity
Date.
STOCK AND BONDS-
Interest.
Outstanding.
Maturity.
None
Common, $1,354,500
6%
$1,468,500
pref. (see text)$1,468,500 ($100)
5%
1,708,200
2d pref. non-cum,$l,708,200 ($100)
Securities of the Lew. Bruns. A Bath St. Ry.—
First
mtge $1,000,000 gold/ 1898
6 g M-S
845,000 Mch 1 1920
($500 & $1,000) closedc ntf lint, at State Trust Co., Aug., Me., Trustee.
Securities of the Aug. Win. A Gar. Ry.—
Aug. H. & G. gen. mtge. con-/ 1901
4 g J-J
55,500 July 1 1951
vertible ($5j00$l ,000) c ntf [Int. at Augusta Tr. Co., Augusta, Trustee,
Aug. H. & G. pref. stock
4'%
194,500 July 1 1951
AugWin & Gard 1st M $150,-/ 1902
4 g J-J
53,000 July 1 1952
000conv($l,000&$500)gentf lint, at Augusta Tr. Co., Augusta, Me.,Trus.
Aug Win & Gard pref stock
____
4%
97,000 July 1 1952
Aug Win & Gard gen M $125,-/ 1905
5 g J-J
100,000 Jan. 1 1935
000 ($500, $1,000) goldc ntf (Int. at Augusta Trust Co., Trustee.
1st
—
__
Stock.—The
about
co.
$900,000
expects during the next three to five years to expend
its system for equip., impts., and rehabilitation.
upon
Pending the completion of this program
the $1,468,500 1st pref. and the
Apr., 1920. |
ELECTRIC
RAILWAYS
115
$1,708,200 2d pref. stock is to be held by the Lewiston Augusta & WaterSt. Ry. 1st & Ref. M. bondholders' committee in a
voting trust.
ncreased fares, the Ore. P. S. Comm. recommended that the
city of Port¬
land take over the co.'s tracks and that this question be submitted to the
distributed
people at the special election to be held on May 21 1920.
V 110, p. 1416.
Rates.—On Dec. 5 1918 was auth. by the Oregon P. S. Comm. to increase
power rates, effective immediately.
V. 107, p. 2290, 2377.
Compare
V. 107, p. 803.
ville
When the rehabilitation program has been completed (or sooner with the
committee's consent) the stock will be released from the voting trust and
p.
as per the reorganization plan.
See above and also Y. 110,
1089.
The 1st pref. stock is cumulative after 1922.
Bonds.—The Lew. Burns. & Bath St. Ry. 1st 5s were originally 5s
maturing March 1 1918 but were extended to 1920 at 6%.
This issue is
by an issue of 8845,000 1st M. 6% 20-yr. bonds to be dated
March 1 1920, to be issued through the new co. or through the Lewiston
Bruns. & Bath St. Ry.
All the underlying mortgages
are
closed mortgages.
The Augusta
Winthrop & Gard. Ry. gen. mtgo. 5% bonds of 1905 are subject to call at
to be refunded
In June 1918
auth. to make additions and improvements to its water
V. 106, p. 2560.
appointed trustee
under the agreement dated Dec. 1 1919, securing an auth. issue of
$2,000,000 7% gold coupon notes, due serially Dec. 1 1920 to Dec. 1 1922.
V. 110, p. 167.
Compare V. 109. p. 2172.
was
power developments to cost approximately $1,550,000.
In Dec. 1919 the Guaranty Trust Co., of N.
Y., was
STOCK AND BONDS—
Date.
Interest.
st on 4% bonds are exchangeable for
?ar M. any int. day on 60 days' notice. 4% pref. stock of the Card. co.,
The Aug. Wintli. &
Ry.
Common$15,000,000 ($100)—
Q-M
which stock has the same security as the bonds and matures at the same
time.
$97,000 have been exchanged.
Subj. to call at 104 and int. on any
int.
The Aug. H. & Gar. gen. M. 4% bonds are exchangeable for 4%
1st
Outstanding.
J$15,000.000\
\ 75% paid J
6%
same
pref. stock of the same co., having the same security as the bonds and ma¬
turing at the same time.
$194,500 have been exchanged.
Callable at
104 and int. on any int. date.
EARNINGS.—Of Lewiston Augusta & Waterville St. Ry. for years
ending Dec. 31:
Dec. 81
Gross
Expenses
Net (after
Interest
'
Balance
Year—
Earninqs.
& Taxes.
Taxes).
&c.
Sur.ordef.
1918..
$894,784
$791,106
$103,678
$227,610 def.$123,932
1917
898,373
683,684
214,689
186,689
sur.28,000
12,873,993 passengers carried in calendar year 1918, against 16,409,925
....
in
1917.
LATEST EARNINGS.—For 3 mos. ending Dec. 31 1919, gross, $274,804; net, $46,599; fixed charges & taxes, $25,941; bal., sur. $20,658.
ROAD.—Operates a system in and between Waterville, Augusta, Win¬
throp, Togus, Gardiner, Sabattus, Lewiston, Auburn, Mechanic Falls,
Brunswick, PYeeport, Yarmouth and Bath.
106 passenger, 59 freight
and express cars, 10 snow plows and 23 misc. cars; total, 198 cars.
Has
one steam plant with an installed capacity of 500 k. w.
OFFICERS.—Pres., Wm. B. Skelton; V.-P, & Counsel, Wm. H. New¬
ell; Treas., Miss G. C. Fitz, all of Lewiston, Me.
V. 109, p. 2439; V. 110,
p. 969, 1088.
ANDROSCOGGIN
Interurban
RR.
The interurban road
is
on
private right-of-way for
pumping
water
STOCK AND
supply.
Common stock $ J ,500,000.
Preferred stock $500,000
Date.
Interest.
Outstanding.
$1,500,000
...
Maturity
—
.....
500,000
1914
5 A-O
1,940.500 Oct
11934
(31,000 and $500) gold_.tfUnt. at Union Safe Dep. & Trust Co., Port[
land, trustee.
Lewiston & Auburn El Lt mtge
5%
1,200,000 June 1 1939
1st & refund mtge $5,000,000 f
Bonds.—$1,200,000 1st & ref. M. 5% bonds are reserved to retire the
Lewiston & Auburn bonds; remainder may be issued for 80% of cost of new
work under conservative restrictions.
Not subject to call.
V. 102. p. 607.
EARNINGS—For
yoar ending Dec.
31 1918, gross, $558,436: net,
Railway dept. only, gross, $184,254; net, after taxes, $58,175.
1917, gross, $525,444; net, $267,623.
Railway dept. only, gross, $165,656; net, after taxes, $51,306.
$263,919.
In
PROPERTY.—Owns developed
water power at Deer Rips on the An¬
River of 5,000 k. w. capacity, and operates under long and fa¬
developed water powers on the Little Androscoggin River
of 750 k. w
and 350 k. w., respectively.
Also owns and operates 30 miles
of high-speed interurban road connecting Lewiston, Auburn and Portland,
inters these cities over tracks of the local street railway companies under
merating agreements.
8 passenger cars, 2 baggage and express cars, 1
droscoggin
vorable leases two
.
rectric locomotive
and 8 flat
cars.
OFFICERS.—Pres., William T. Cobb, Rockland, Me.—V. 102, p.H07.
LIOHT
&
POWER
CO.
ORGANIZATION.—Incorporated in Oregon June 29 1906 and has pur¬
of the Portland Ry. Co., the Oregon Water Power &
Ry. Co. and Portland Gen. Elec. Co.
V. 86. p. 1044.
On March 21
1912 acquired the Mt. Hood Ry & Power Co.
V 94, p. 983.
Duriim 1912
sold the railway property in Salem for $355,333 and the WillamePe Falls
Ry., 9 miles in length, for $170,000In May 1914 purchased the Yamhill
Electric Co.
In Jan. 1914 acquired a majority of the $1,000,000 corn stock
of Willamette Val. Southern Ry., incorp. In 1911 to construct a road from
Oregon City to Angel City, 32 miles
Line was placed in operation on
Jan. 31 1915.
Regular passenger service from Portland to Mft. Angel in
augurated Oct. 23 1915.
With the exception of two interurban lines the
chased all the property
,
company operates all the electric railways in Portland and vicinity, Includ¬
ing interurban lines to Oregon City, Troutdale, Cazadero and Bull Run,
Ore., and over the new inter-State bridge to Vancouver. Wash.
Does most
oflthe electric light and power business of Portland and vicinity; also all of
the electric light and power business in Salem, Oregon
City, Silverton,
Woodburn and many smaller communities in Ore. and in Vancouver, Wash.,
and operates the gas
plant in Salem.
Power is sold to the two Interurban
lines above mentioned, to the Southern Pacific, and also to the companies
operating the street railways in Salem and Vancouver.
The Yamhill Elec.
Co. supplies electric light and power service to New berg and other points in
Yamhill County.
Railway franchises in Portland expire in 1932 and 1933.
Light and power franchises in Portland and Salem are perpetual; in Van¬
couver they expire in 1927.
Has franchise to carry freight in Oregon City,
expiring in 1926.
In Dec. 1916 obtained a franchise to operate over the
new bridge connecting Portland,
Ore., and Vancouver, Wash.
One-half
the profits are to go to Clark and Multnomah counties, by whom the bridge
was
built.
The company's transmission lines and a large part of the
interurban railway are on private right of way.
On March 15 1910 the Oregon Supreme Court handed down a decision
which in effect sustains the franchise covering portions of 40 streets passed
by City Council April 28 1909 over the Mayor's veto.
See V. 90, p.
On Feb. 21 1913 a franchise covering about 22 miles of streets, including
the proposed "7th St. Line." was granted.
The franchise expires in 1932
and contains a provision that at that time appraisers may be
appointed to
arrive at the value of the company's equipment, writh a view to the purchase
of the lines by the city.
V. 96, p. 654
In Nov. 1912 the co. brought suit to restrain the city from enforcing the
"straphanger ordinance" (limiting to 3 cts. the fare charged passengers for
whom no seats are provided), and also the 50-cent minimum gas and elec¬
tric rate ordinance.
A temporary Injunction against the enforcement of
the former was granted in Dec. 1912. but application for an injunction to set
aside the latter was denied by Judge Bean in the U. S. Dist. Court on Nov
25, on the ground that the Federal Court has no jurisdiction
V. 95. p.
1542. 1274.
Favorable Decision.—Judge Harris in the Supreme Court at Salem in May
1916 held void the ordinance requiring a tax of 3% on gross earnings (V. 96.
p.
1157).
V. 102, p. 1718.
Valuation.—The Oregon P. U. Comm. on Apr. 30 1917 placed the valua¬
tion of the company's property as of Dec. 31 1916 for rate-making purpose*
at $46,862,972. or about $14,000,000 less than the co.'s valuation.
See
V. 104, p. 1900, and compare V. 103, p. 61.
Wage Increases.—V. 105, p. 1709; V. 107,
Fare Increase.—-In Jan.
Stockholders of record
alike.
V.
for $2 75.
p.
1837; V. 109,
p.
677,2357.
1918 the Oregon
P. S. Comm. aufch. the ce. to
tickets to be sold 5 for 30 cents and 50
This schedule became effective Jan. 15 1918.
V. 106. p. 190.
On Jan. 14 1918 the Comm. denied the city's
Setition to havecourts, but suspended, orreceipt slips be postponedtopending
its operation attached tickets
ligation in the tne order ordered that
sold by the company, which are to
fare charged in the event the courts
be redeemed for the amount of
declare the order invalid.
excess
On Mar. 14
1918 the Circuit Court of Multnomah County, Wash., upheld the ruling
of the P. S. Comm. in granting the 6-cent fare.
The city has appealed
to the Oregon Supreme Court.
See also V. 109, p. 2263.
In a decision
handed down on Mar. 23 1920 holding in abeyance the co.'s petition for
1
1917
werb given
an
opportunity to
104, p. 1146.
(See also V. 91. p. 1328; V. 95, p. 1274.)
Com.
Louisville stock exchanges.
Both issues of
divs. and assets and red. at par.
Bonds.—Of the remaining Portland Ry., Lt. & Power unissued, $17,813,000 are reserved for prior liens and $40,036,000 are for additions, improve¬
ments, &c. Denom.: coupon bonds, $1,000, $500 and $100; reg. bonds,
$1,000, $5,000, $10,000 and $50,000.
Principal and interest also payable in
sterling, francs or guilders at fixed rates of exchange.
Callable as a whole
at 105 and int. on or after Feb. 1 1922 on 60 days' notice.
Cumulative
sinking fund 1% annually 1915 to 1926 incl.; 1 Yj% 1927 to 1941 incl. on
on
pref. stock
the Columbus and
are
pref.
as to
total amount Issued.
Bonds in sink, fund to be kept alive and int. added
Convertible at any time at holders' option into capital stock at a
to fund.
100 equal
Erice share. toSee V. 94, paid in Bonds stock, plus $10 premium per
the amount 631. on such listed
New York Stock
are
p.
on
Exchange: $87,000 are in treasury and $947,800 are held in sinking fund.
Portland Ry., Light & Power serial notes are due serially Dec. 1 1920 to
1 1922.
$1,000,000 are held in treasury.
The Portland Ry. 1st & ref. M. has been closed at $8,523,000.
A sinkinQ
fund began in 1907; the amount was $25,000 per ami. (payable Nov. 1)
from 1907 to 1909 incl.; $40,000 per ann, from 1910 to 1919 incl.,
am} $60,000 per ann. from 1920 to maturity of bonds; these
payments are based on an
original amount outstanding of $5,982,000, increasing proportionately us ad¬
ditional bonds were Issued"; said funds to be invested in the bonds at not more
than 105 and int., at which price bonds can be called for the purpose.
Bonds
are to be kept alive and bear interest.
Red. at 105 and int. on any int. date
upon 60 days' notice.
$825,000 are in sinking fund.
See V. 81, p. 1437.
The bonds are listed on the New York, Louisville and Philadelphia stock
exchanges.
V. 82, p. 806; V. 83, p. 1471.
Dec.
bonds out commenced May 1 1915.
Bankers Trust Co., New York,
They are listed on the New York Stock Exchange. V. 92, p. 1437.
$5,000,000 of Mt. Hood Ry.1 & Power bonds are deposited as collateral
under Portland Ry., Light & Power notes.
Sinking fund began Jan. 19121,
1% to Jan. 1916 Incl.; 1^% 1917 to 1921; 1 34% 1922 to 1926; 1%%
1927 to 1931; 2% 1932 to 1938.
Willamette Valley Southern 1st M. bonds are unconditionally
guaranteed
of
trustee.
'as to
Co.
principal, interest and sinking fund) by Portland Ry., Light & Power
Remaining $2,250,000 issuable only under certain restrictions.
Sink¬
ing fund of 1% of bonds outstanding 1917 to 1923; 134% 1924 to lf)31,
and 2%
1932 to 1938.
Company agrees to refund 1% of income tax.
Redeemable at 103 and interest on any interest date on 60 days' notice.
V. 98. p. 1001: V. 100, p. 57.
Dividends.—On old com. quar. dlv. of 1% paid from Sept. 1909 to Jan.
1910 Incl.
Initial div.—$1—on new stock as adjusted per plan V. 91.
61328, was$134. Mar. 1913, Mar., June and quar. to $134 Incl. Sept. 1912;
paid In 1 1911; same amount Sept., and each. In Dec.
1912,
ec.
rate was reduced and
$1
None since.
June, $1.
paid (see V. 97, p. 1824).
In 1914, March. $1.
No dividends have been paid on the pref. stocks.
was
EARNINGS.—For years ending Dec. 31:
Calendar
Gross
Expenses
•
Net
Year—
Earninqs.
1919
1918
$8,591,001
cfe Taxes.
$5,491,493
Interest,
Balance,
Surplus.
Earninqs.
&c.
$3,099,508
$2,269,972
$829,536
321,907
7,667,129
5,127,035
2,540,094
2.218,187
99,805,867 passengers carried in calendar year 1918, against 88,610,120
1917.
V-
In
—
__
.
-
.
ROAD.—Operates a total of 345.46 miles of single track (of which
miles owned, 35.00 miles controlled through stock ownership and
13.36 miles owned by outside interests).
Owns 631 passenger cars, 518
freight and miscellaneous cars and 10 locomotives.
Water-power plants
have a capacity of 42,880 k.w.; steam plants, 22,000 k.w. capacity.
Total
capacity 64,880 k.w.
Has 409 miles of high tension and distribution lines.
Owns a 9-story fireproof building in business centre of Portland used for
Its offices, the only
park and amusement resort near Portland; also real
297.1
estate in
Portland suitable for terminals.
OFFICERS—Pres., Franklin T. Griffith; V.-Ps., F. I. Fuller, Portland.
W. Clark and H. L. Clark, Phila.; Sec. and Asst. Treas., G. L. Estabrook, Phila.; Treas. & Asst. Sec., C. N. Hugglns, Portland; Asst.. Sec
and Aud., R. W. Shepherd; Asst. Sec. & Asst. Treas., Wm. Ldlley.—V. 106.
p. 2560; V. 107. p. 803. 1385. 1837, 2290, 2377; V. 108, p. 1819; V. 109.
p. 677, 2172, 2263, 2357; V. 110, p. 167, 1416.
E.
.
OREGON ELECTRIC RAILWAY.—An Interurban road.
Spokane Portland & Seattle Ry. owns entire common stock.
ORGANIZATION.—Incorporated, In Oregon on May 14 1900.
Ex¬
clusively an interurban road
Does no street railway business.
Principally
on private right of way..
Hah a contract for power (extending to 1938, with
privilege of renewal for 25 years) with Portland Railway, Light & Power Co.
STOCK AND BONDS—
Dale.
Common $5,000,000 ($100)--Pref $5.000,000(8100) 6% cum
....
Deferred stock $400,000 ($100)
First
mortgage
$10,000,000/
($1,000)
goicL
Increase its fares from 5 to 6 cents,
Compare V. 105, p. 1618.
Feb.
a further $5,000,000 common into
1st and 2d pref. stock on the
terms, which was accordingly done.
The 1st pref. stock Issued in
1915 is cumulative from Jan. 1 1916; that issued in 1917 is cumulative from
Apr. 1 1917 and will receive no divs. until all accumulations on the first
$2,500,000 shall have been paid; thereafter all 1st pref. stock will be treated
same
The authorized amount of Portland General Electric Co. mortgage wan
originally for $10,000,000, but mortgage has been closed at $8,000,000.
$312,000 retired by sinking fund. Bonds are subject to call as a whole at
107 34 and interest on 4 weeks' notice.
A sinking fund of 1% per annum
PORTLAND, ORE.
PORTLAND RAILWAY,
text
Stock.—The stockholders on May 14 1915
approved the plan by which
they surrendered 20% of their holdings in the then existing stock ($25,000,000, 75% paid), paying at the same time $25 in cash for each share so
surrendered, and received therefor pref. stock, share for share, one-half
($2,500,000) 6% cum. 1st pref. and the other half 6% non-cura. 2d pref.
The $5,000,000 stock surrendered in connection with the
plan was can¬
is listed
BONDS—
See
—
convert
28 miles and on the hisrhway for 2 miles.
Charters and franchises liberal.
Has favorable contract with city of Auburn for lighting streets and ways and
Maturity.
5,000,000
2d pref
do non-cura ($100)
6%
>•
5,000,000
Portland Ry Lt & Pow 1st &f 1912
5 g F-A
16,116,200 Feb
1 1942
ref mtge $75,000,000 gold(Int. at Fidelity Tr. Co., Phila.,
Trus., Lee,
(seetext
»c*&r*tfj
Higginson & Co., Bos.; Higginson & Co.,
I
London, Eng., and Columbia Tr.Co.,N.Y.
Serial notes
1919
7%
2,000,000
See text
Portland Ry 1st &
refundingf 1905
5 g M-N
7.698,000 Nov l 1930
mortgage $10,000,000 gold I Interest at office of Redmond & Co., N. Y.;
($1,000) sink fund
c*tfi
New York Trust Co., Trustee.
City & Sub cou (now 1st) Mf 1900
4 g J-D
1.290.000 June 1 1930
($1,000) g (closed)
ccptllnt. at Seeur. Sav. & Tr. Co..Port., trustee.
Portland Gen El first mtgef
1905
5 g J-J
7,688.000 July 1 1935
(see text) gold ($1,000) cHfllnt. at Harris, Forbes <te Co., New York.
Mt Hood Ry & Pow 1st
rntgef 1907
5 g J-J
See text Jan
2 1937
$6,000,000 g($l,000)s f c*ntf\Union Trust Co., San Francisco, Trustee.
Willam Vail So Ry 1st M ntf
1914
6 g F-A
735,000 Feb
1 1939
$3,000,000 ($100, $500 &(Int. at Cont. & Com. Tr. & S. Bk.. Chic.,
$1,000 gu p 1 & s f c*ntf I
Trust., or in Port, or 1st Nat. Bk., N. Y.
celed.
ELECTRIC CO.
ORGANIZATION.—Incorp. in Maine Oct. 26 1914 and purchased the
properties of the Lewiston & Auburn Elec. Lt. Co. and the Portland Lewiston
pref$10.000.000cum($100)
Interest.
----
6 F-A
-—
—
—
Outstanding.
$1,950,000
200,000
380.000
Maturity.
In 1914. 6%
—...
1908
5 g M-N
2,000,000 May 1 1933
c*&rtfilnt. at Columbia Tr. Co., N. Y., trustee
Bonds.—$8,000,000 remaining bonds reserved for permanent extensions
80% of cost.
Bonds are subject to call as a whole
and improvements at
or
in part at 107 and Interest on any interest day.
Dividends.—On pref. In 1911. 1912, 1913 and 1914, 6%.
EARNINGS.—For cal. years;
Year—
Gross.
Net, aft. Tax.
1919--.$1,093,070 def.$160,996
1918-1,021,696 def. 107,692
—
*
Results under Federal control.
None since.
|
Oth. Inc. Interest, &c.
Deficit.
$159,980 $527,606 def.$528,622
142,643
555,924 def. 520,973
ELECTRIC
116
The sale price for the bonds must
V. 109, p. 477.
They had
exts.
122.31 miles; Garden Home to
ROAD.—Operates Portland to Eugene,
Wood burn to Wood burn, 2.53 miles; Gray
to Oorvallls, 5.20 miles; Orenco to Bowers Junction, 5.05 miles; trackage
rights, 1.72 miles; total length of line, 156.20 miles.
Standard gauge,
OFFICERS.—Pres., L.
W. F. Turner;
Crosbie; Treas,, M;
1311; V. 93, p. 1535.
Oilman; V.-P. & Compt.,
C.
V.-P., F. 8. Elliott; Sec. & Asst. Compt., Robt.
Barger; Gen. Mgr., A. J. Davidson.—V. 92, p. 323,
1274; V. 107, p. 2188.
V. 95, p.
PORTSMOUTH STREET
See our "Rail-
6hio.
operations
in
1894.
Leases
Ohio
business In Portsmouth and New Boston.
Including the city lighting.
The street railroad serves Portsmouth, New
Boston and Sclotoville.
Owns an amusement park.
Franchises extend
$250,000
250,000
Stock common $500,000
Preferred $250,000 (6% cum)
mtge
bonds $500,000/ 1914
6 g J-J
475,000
See text
($1.000&$500)redl02H-c*\ Int. at Guaranty Tr. Co., N. Y., Trustee
each July 1 from 1918 to 1934, both incl..
and $75,000 July 1 1935.
V. 99, p. 1748.
First
Bonds.—Are due serially $25,000
1918, gross, $469,059; net, after taxes,
$125,195; other deductions, $47,371; net income, $77,823.
In 1917, gross,
$439,543; net, after taxes, $163,052; other deductions, $34,600; net income,
$128,452; in 1916, gross, $312,430, net. after taxes, $145,609.
ROAD.—-Owns and operates 32.8 miles of track, incl. 2H miles leased,
29 cars.
70-lb. T rail.
OFFICERS.—Pres.. L. D. York; Sec. and Treas., H. H
Higgins.—
EARNINGS.—For
cal.
year
1317; V. 99. p. 1529, 1748, 1833; V. 100, p.
V. 98, p.
142;
V. 103, p. 1793.
pottsville, pa.
EASTERN
RYS. CO.
PENNSYLVANIA
S750,000
6 g J-Jl
Bonds.—The $1,200,000
improvements, acquisitions, &c., at not exceeding 80% of cost thereof
under certain restrictions.
Sinking fund of 1% each year on Jan. 1.
Call.,
at 105 and int. on any int. day upon 6 weeks' notice.
sidings,
.77 miles; total,
leases 1.5; second
18.55 miles of track.
27 cars.
ORGANIZATION.—Incorporated in Pennsylvania in 1891 as the Tama
& Lansford Street Ry., and name changed in 1906.
Controls the
following properties in Schuylkill County and vicinity and the lower an¬
thracite coal field.
The Port Carbon&Middleport El.Iiy
Pottsville Union Traction Co.
Pottsville & St. Clair Elec. Ry. Co.
Pottsviile & Reading Railway Co.
Schuyl. Hav .&Orwigsburg St .Ry .Co. Tamaqua & Pottsville Electric Rli.
Eastern Penna. Lt., lit. & Pow. Co.
Schuylkill Electric Railway Co.
The Tumbling Run Park Association
Coal Castle Electric Railway Co,
qua
Most olf those companies are without bonded debt, but where bonds have
been issued they have been provided for or deposited under the consolidated
company's new mortgage, together with all, or practically all. their stocns.
V. 82, p. 1437.
Franchises are practically perpetual.
In April 1914 the Penna. P. S. Comm. denied the application of the
Schuylkill Light, Ileat & Pow. Co. for permission to carry on a comoetitive
electric-lighting business in the Borough of Ashland, now servea oy the
•ubsidiary lighting co. of this co., the Eastern Pennsylvania Lt.. Ht. &
Power Co.
See V. 98, p. 1392.
The Pottsville & St. Clair Electric Ry., lncorp. in Oct. 1915 with $13,200
capital stock.was organized in the interest of the company to construct the
Une from Pottsville to St. Clair (placed in operation Aug. 11 1916).
It has
outstanding $150,000 (auth. amount $350,000) 1st M. 6% gold bonds dated
June 1 1916 and due June 1 1946; int. payable J. & D. at fiscal agent,
Pottsville, Pa.; subj. to call at par and int.
Trustee, Real Estate Trust
Co., Philadelphia.
Fare Increases.—In April 1918 announced an increase in fares to 7 cents.
The Schuylkill Electric Ry. announced an increase in the zone rate from
7 to 8 cents, effective July 10 1918.
V. 106, p. 2561.
Effective Nov. 7
1919 the company increased fares to 10 cents per zone.
This increase was
upheld by the Pennsylvania Public Service Commission.
track, 1.14 miles;
Dec. 31:
Net, Aft. taxes. Int.,&c.
___$231,617
195,404
Surplus.
$38,160
def.$12,977
207,068
39,442
def.5,971
OFFICERS.—Pres.. Mrs. J.W.Hlnkley; V.-P., Mary M.Hlnkley; Sec.&
Treas., T. W. Moffat; Asst. Sec. & Asst. Treas., H. B. Brown; Mgr., O. A.
Brooks: Aud.. J. A. Nilan.
Under management of J. G. White Mgt.
Corp.—V. 104, p. 1388, 1801, 2642; V. 106, p..2758: V. 109, p. 477.
$25,184
33,471
pueblo, col.
RAILWAY. LIGHT & POWER CO
$405,000 preferred, $3,499,400 of the
extend the railway lines from
for lmpts., &c., and for the re¬
demption of the $50,000 bonds called for payment Jan. 1 1915 at 102.
The
extension to Ironton O., is being built by a subsidiary, the Ohio Valley Trac¬
tion Co., all of whose securities will be pledged as part security for the new
bond issue, and whose property will be oper. under lease extending to 1950.
Maturity.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Outstanding.
- - -
596,000 Jan 1 1958
Equitable Trust Co., N. Y., Trustee
unissued bonds axe reserved for extensions,
Calendar year 1919.
Calendar year 1918
Calendar year 1917
Valley Traction Co.
Does the electric light and power
b^yotiid 1935*
In Dec. 1914 issued $500,000 bonds to
Portsmouth, O., to Ironton, O., 22 miles,
Stuck, $ 1,000,000 (par $ 100) - - - — 1st M $2,000,000 ($100, $50011918
& $1,000) g.
c n' tf /
Int at
EARNINGS.—For years ending
Period—
Gross.
RAILROAD & LIGHT CO.
ORGANIZATION.—Commenced
be fixed by the Comm. before they
not been issued to Mar. 27 1920.
Interest.
Date.
STOCK AND BONDS—
ROAD.—Owns 15.14 miles of road,
PORTLAND EUGENE & EASTERN RAILWAY.
In April 1915 was absorbed by the Southern Pacific Co.
way and Industrial" Section.
portsmouth,
be sold.
can
Forest Grove, 19.45 miles; West
70-lb. T rails.
[Vol. 110.
RAILWAYS
(THE) ARKANSAS VALLEY
Standard Gas & Electric Co. owns
and $3,715,000 first
common
and refunding bonds.
Nov. 14 1911.
Has taken
(V. 93, p. 1460):
City I La Junta Electric Co.
Gold Belt Consol. Electric Co.
Pueblo & Sub. Trac. & Lighting Co.
La Bella Mill, Water & Power Co.
| Rocky Ford Electric Co.
The La Bella Mill, Water & Power Co. is controlled through stock
ORGANIZATION—lncorp. in Colorado on
the following companies
over
Colo. Lt. & Pow. Co. of Canon
only.
ownership
197
Controls all the street railway
and electric lighting and power Interests in
Puebio, with a large lighting and power business in the Cripple Creek dis¬
trict.
Railway franchises expire in 1940 In Pueblo and 1953 In Pueblo
County and electric light franchises in 1936.
In June 1918 issued $350,000 2-year notes to reimburse the company for
expenditures incurred for additions and Improvements.
V. 106, p. 2449.
In Jan. 1919 an additional $100,000 of these notes were issued for the same
purpose and in June 1919 $279,000 were Issued, proceeds being used in
part In refunding $450,000 6% notes due July 1 1919.
V. 108, p. 2432.
Fares— In Jan. 1919 the company, which had previously applied for a
6-cent fare, filed an amended application with the Col. P. U. Comm.
asking authority to increase fares from 5 to 7 cents.
V. 108, p. 76. In
Sept. 1919 the Pueblo City Council passed an ordinance, effective Nov. 11
1919, granting the company authority to charge a 6 cent fare. V.109, p.1985.
$6,000,000 ($100)
$4,000,000($100) 7% cum
Outstanding.
Maturity.
$3,500,000 See "Earns"
1,310,400 Mar *20,1 %
Interest.
Date.
STOCK AND BONDS—
Common
Pref
Q-M 15
5 g M-N
3,715.000 Nov 1 1931
fund._c*\Int.atCont.&Com.Tr.& S. Bk.t Chic., trust.
Lighting} 1901
5 g J-J
970,000 Jan 1 1921
first mortgage (closed) gold •( Interest at International Trust Co., Denver,
($1,000)
c* I
trustee, or at Guaranty Trust Co., N. Y.
Pueblo & Suburban lstmort-f 1902
5 g A-O
1,747,000 Oct 1 1922
gage (closed) ($1,000)
.gUnterest at International Trust Co., Denver,
sinking fund
c*(
trustee, or at Guaranty Trust Co., N. Y.
Secured
notes,
$1,500,000/ 1918
7 g J-D
729,000 Dec 1 1920
($100, $500 & $l,000)gc*.tf (Contl. & Coml Tr & Sv Bk, Chicago, trustee.
$10,000,000/ 1911
First & ref mtge
($1,000) sinking
g
Pueblo
&
Traction
Stock.—Pref. stock is red. at 110 on 60
an
block
additional
i
of
days' notice.
$450,000 for extensions and
In Oct. 1917 Issued
additions. $64,600.
treasury.
n
first and ref. bonds, $962,000 are in treasury
pledged as security for the 2 year 7% notes, $2,727,000 are
Bonds.—Of the remaining
$600,000
are
prior liens. $392,000 have been redeemed and the remainder
are reserved for extensions.
Subject to call at 105 and int. on any int. day.
Annual sink'ng fund beean Nov. 1 1913. 1% bonds certified 1913 to 191o,
reserved for
Entire issue of the Pueblo & Suburban 1st M. bonds is
104 <Sc int.
A sinking fund began in 1909, which must
$50,000 bonds per annum, said fund to be Invested in the
market at not higher than 104; otherwise bonds can be called
1916 to 1930. 2%.
subject co call at
at
retire
least
bonds in open
Entire
75. p. 1355.
$557,000 have been canceled.
& Ltg. 1st M. bonds may be called at 104 &
the purpose.
V.
issue of Pueblo Trac.
for
sinking fund of $10,000 annually on these bonds
used to call bonds after Jan. 1906 at 104 & int.
Int. A
began In 1906, and may be
See V. 72, p. 821.
$130,-'
000 have been canceled.
Notes.—The 2-year notes are
secured by pledge of 1st & ref. M. bonds (not
outstanding) at the rate of 133 1-3% of the par value
Additional notes may be issued when secured by
1st & Ref. M. bonds In a like ratio, but only under certain restrictions
Red. all or in part on 30 days' notice at 100and int., to and incl. Dec. 1
1919 and at 100 and int. thereafter.
Tax refundable in Pennsylvania.
,
In Nov.
bonds for
In Oct.
P. S. Comm. to issue $136,900
extensions and improvements.
V. 107, p. 1837.
1919 the following committee was formed to protect the interests
1918 was auth. by the Penna.
of holders of the
of
500
p.
company's 1st mtge. 5s.
bonds
these
had
been
Early in Oct. 1919 over $4,446,-
deposited with the committee.
V.
109,
1366, 2359.
5s.—Chairman, Edwin G. Merrill; Herbert
CAppell, A. A. Jackson, Lewis A. Riley, Thomas Newhall; Secretary, Robt.
N. Smither, care of Central Union Trust Co., 80 Broadway, N. Y.
De¬
positaries: Central Union Trust Co., N. Y. City, and the Girard Trust Co.,
Phila., Pa.
V. 109, p. 1366, 2356.
Interest.—Coupons due Jan. 1 1920 on the company's 1st mtge. 5s were
paid when due.
V. 109, p. 2356.
Committee
for
1st
Mtge.
STOCK ANlD BONDS—
Interest.
Date.
$4,000,000
946,820
Common, $5,000,000 ($100)._
Pref, $1,000,000
($100) 5%c
First mortgage, $6,000,000, g
($500 and $1,000)
c*tf
Pottsville Union Trac. 1st M.
See text
4,446.500 July 1 1936
Trustee.
-
5 g J-J
1906
Central Trust Co., New York,
40,000
6 g M-S
18?9
Int. at Real Estate
gold $1,250.000
Pottsv. & Read, first mtge, g
Maturity
Outstanding.
Trust Co., Phila., Trus.
6 g F-A
99,000 Feb. 1 1927
Int. at Real Estate Tr. Co., Phila., Trustee
1895
$100,000 ($1,000)-c*
1895
6 g F-A
295,000 Feb. 1 1925
Schuyl El Ry 1st M $500,000,
($500 and $1,000) gold.c*tf\Int. at
Estate Tr. Co., Phila., Trustee
Bonds.—Sufficient 1st M. bonds of 1906 are reserved to retire $434,000
Reaf
prior liens; the unissued portion Is reserved for future extensions and im¬
provements; $333,500 have been canceled.
Registered bonds are re-con¬
vertible into coupon bonds.
Are subject to call at 110 and int. on 4 weeks'
notice.
Int. payable in N. Y.
See description of bonds and property.
V. 89. p. 103; V. 94, p. 279.
Dividends.—Divs.', 2H%, on pref. Mch. 1907; none since.
EARNINGS.—For years ending Dec.31:
Deductions.
Net
Balance,
Year end.
Gross
Expenses
Earns.
& Taxes.
(.All Cos.)
Surplus.
Dec. 31.
Earns.
$156,933
$269,111
$126,044
$1,218,518
1919.
$1,644,562
2,029
276,305
278,334
914,661
1918
1,192,995
269,835
44,755
314,590
680,593
1917
.
995,183j
ROAD.—Operates 65.46 miles of track, connecting Pottsville witb Yorkviiie, Minorsville, Palo Alto, Belmont, Cumbola, Mount Carbon, Port
Carbon, Saint Clair, New Philadelphia, Middleport, Schuylkill Haven,
Adamsdale, Orwigsburg, Coal Castle, Glen Carbon, Tumbling Run, Brock¬
ton,
Tuscarora, Tamaqua, Lansford, Summit Hill, Nesquehoning and
Mauch
Chunk.
incl
.
in amt. reported
of notes outstanding.
V.
106,
p.
2449.
Dividends.- On pnef.,
1^% quar. from June 1912 to Mar.
EARNINGS.—For years ending Dec. 31:
Calendar
Gross
!
Net, after
Int. Charges,
Year—
Earns.
Taxes.
&c. (Net).
1920.
T
Balance,
Surplus.
Dividends.
$605,071
$373,981
$226,089
$5,000
645,222
373,033
201,578
70,611
ROAD.—Owns 33 miles of track, all in city of Pueblo.
Gauge, 4 ft.
$5. 72 and 75-lb. rail.
50 cars, of which 42 are motors.
Has a hydro¬
electric power plant at Skaguay, on Beaver Creek, near Victor; steam-elec¬
tric power houses in Canon City and Pueblo, and reserve stations at La
Junta and Rocky Ford; combined capacity, 25,889 h.p.
Has 313 miles of
transmission and 317 miles distributing pole lines.
$1,480,548
1,428,467
1918
OFFICERS—Pres., Arthur S. Haly;
R. J. Graf; Sec.,
V.-P. & Mgr., W. F. Raber; Treas.,
Herbert List; Gen. Mgrs., H. M.
1747; V. 108, p. 76, 2432;
Chicago, 111.—V. 107, p.
raleigh, n.
Byllesby & Co.. Inc.,
V. 109, p. 71, 1985,
c.
CAROLINA POWER & LIGHT CO.
Electric Bond & Share Co. acts as fiscal agents
for the company.
ORGANIZATION, &C.—lncorp. in North Carolina Feb. 19 1908.
Suc¬
to the Raleigh Street Ry. (chartered 1881, road opened 1886), Raleigh
Electric Co., Central Carolina Power Co. and Consumers' Light & Power
Co.
On Nov. 1 1910 acquired Durham Light & Power Co., on May 1 1911
the Henderson Ltg. & Pow. Co., and on Aug. 1 1911 the Standard Gas &
Elec. Co., which companies have been merged into the Carolina Power &
Light Co.
On Nov. 1 1911 leased the Oxford Elec. Co.
On July 1 1912
acquired the Goldsboro lighting property (municipal plant).
Also owns
the entire common stock, except directors' shares, of the Yadkin River
Power Co. (which controls the Palmetto Power & Light Co.) and the Asheville Power & Light Co. (acquired in March 1912.)
Operates entire street railway, gas and electric light and power service in
Raleigh, gas service in Durham, light and power service in Henderson,
Oxford, Sanford, Jonesboro and Goldsboro and supplies, directly or in¬
directly, electric light and power service in 18 other communities.
Franchises.—Gas lighting franchise in Raleigh is perpetual.
The electric
cessor
Durham gas
and
light and power and railway franchises, extend to 1945.
The
franchises extend to 1950.
In Henderson, Oxford, Sanford and
& Asst.
the franchises extend to
OFFICERS.—Pres., J. II. Pardee;
V.-Ps., R. Walter Leigh, J.I. Mange
Joseph K. Choate; Sec. & Treas., T. W. Moffat, all of N. Y.; Asst. Sec.
Treas., L. A. Reinhardt; Gen. Mgr., C. A. Hall, Pottsville, Pa.;
Gen. Mgrs., J. G. White Mgt. Corp., N. Y.—V. 104, p. 256; V. 105, p. 1522;
V. 106, p. 1796; V. 107, p. 1837; V. 109, p. 1366, 2356; V. 110, p. 969.
poughkeepsie,
n. y.
POUGH KEEPS IE & WAPPINOERS FALLS RY.
ORGANIZATION.—Chartered March 22 1894 as
Olty & Wappingers Falls Electric Ry. Name
the Poughkeepsie
changed to above June 1917.
the Equitable
STOCK AND BONDS—
The P. S. Comm. has auth. the co. to make a new mtge. to
frust Co. of N. Y., securing an Issue of $5,000,000 5% 1st M. sink, fund
gold bonds, and to issue $596,000 thereof to take up the existing bond*.
Fare Increase.—In June 1918 was authorized by the New York P. S.
Comm. to charge a 6 cent fare, with the understanding, however, that no
dividends are to be paid until the road and equipment are brought to a
state
of efficiency.
V.
106,
p.
Pref
First mortgage
Interest.
gold $5,000,-/
1908
Q-J
5 g F-A
($500 & $1,000) gold
Stock.—Of the amount
In
the hands of the
Outstanding.
Maturity$4,787,500 May '20, V*
1,974.600 Apr '20, 1M
3,482,000 Aug 1 1938
N. Y.. trus. Int. In N. Y.
3,000,000 Jan 11924
c*/Bankers' Trust Co., N. Y., trustee.
of preferred stock outstanding, $1,917,300 Is
000 ($500 & $1,000) __c*.tf (Guaranty Tr. Co.,
1st
&
Joint
M
$3,000,0001 1919
6 g J-J
In Aug. 1919 the co. was auth. by the N.
000 6%
Date.
com $5,000,000 ($100)
$2.500.000 7% cum ($100)
Stock
2758.
Y. P. S. Comm. to issue $130,1st Mtge. bonds, proceeds to be used for construction work and
Jonesboro
1971, 1971, 1942 and 2003. respectively; in Golds¬
boro, Sruithfield and Pine Level to 1972, and in FayetteviJle franchise is
perpetual.
I
On March 31 1911 increased authorized common stock from $2,500,000
to $5,000,000, and authorized preferred from $1,250,000 to $2,500,000.
In Feb. 1919 an issue of $3,000,000 Carolina Power & Light Co., Yadkin
River Power Co. and Palmetto Power & Light Co. 1st & Joint M. 6s was
brought out', the proceeds of which will be used for the construction of highvoltage transmission lines, sub-stations, &c.
Y* 108, p. 783, 877.
public.
APR., 1920.1
ELECTRIC
Bonds.—$500,000 are for exchange, bond for bond, for bonds of other
apmpanies, under certain restrictions, and remainder for impts., extensions,
g:c., at 80% of cost of same whenRed. earnings for 12in partare twice interest
bonds
net
mos. for sinking fund
and to be issued.
whole
198
n
out
or
as a
int. date upon 3 weeks' notice at 105 & int.
Sinking fund 1% an¬
nually of bonds out from Aug. 1 1913 to Aug. 1 1922, Incl.; thereafter
1}4%.
$162,000 have been retired throt^h operation of sinking fund.
See V. 90,
p. 1361.
The 1st & Joint M. 6s are secured by a 1st M. on the property
of the Palmetto Power & Light Oo. and by a direct lien on all the property
oa any
of the Yadkin River Power Co. and the Carolina Power & Light Co.
1st M bonds.
Red. all or in part any time on 4 weeks'
subject
noticp at
to their
100 M
and int. during 1920, and thereafter at 100 and int.
V. 108, p.
7831 877.
Dividends.—On pref., IX % quar. from July 1 1909 to Dec. 31 1910, incl.
In April 1911 and quar. since, 1H%•
Initial div. on com.—X of 1%—
paid Feb. 1917; same rate quarterly to and incl. May 1919.
In Aug.
1919, 1%; Nov., ^ of 1%.
In 1920, Feb., X of 1%; May, X of 1%.
EARNINGS.—For
12
mos. ending Dec. 31:
(after
Other
Bond
Other
Balance,
Taxes.)
Income.
Interest.
Int., <fce.
Surplus.
1919.
$398,443
$174,058
$159,656
$15,838
$368,203
349,159
153,022
159,981
21,907
320,293
2,362,428 passengers carried in 1918, against 2,411,319 in 1917.
Gross
Year—
198
Net
Earnings.
SI,249,809
1,015,382
ROAD.—Owns 13.6 miles of road; gauge, 4 ft. 8H in.
00-70-lb. T rails.
10 open motor cars, 11 open trailers, 13 closed motor cars and 1 miscell.
and 9 sub-stations; 216 miles transmission lines.
OFFICERS.—Pres., Chas. E. Johnson, Raleigh; V.-P.'s., P. A. Tillery,
Wm. Darbee and D. F. McGee; Sec., E. P. Summerson, N. Y.;
Treas.,
6 power stations
Wm. Reiser; Asst. Sec., H. L. Martin; Asst. Treas., A. O. Ray.—V. 104,
1488; V. 105, p. 180, 1312; V. 106. p. 818. 2122; V. 107, p. 500; V. 108.
p. 783, 877.
p.
(1)
Asheville Power &
Light Co.
ORGANIZATION.—Incorp. on March 25 1912 In North Carolina
successor
the
to
Asheville
Electric
Co.
the
All
common
stock,
aa
except
RAILWAYS
Note and Bondholders' Committee.—H. E. Cooper, O. B. Willcox, H. C.
Rorick and J. Y. Robbins, Secretary, 37 Wall St., N. Y. City.
Depository,
Equitable Trust Co., N. Y. C ty. V. 107, p. 1100. In May 1919 more than
79% of the notes and bonds had been deposited with the committee.
V. 108, p. 1939.
Stockholders' Committee.—Chairman, Wm. P. Bonbright; W. S. Barstow,
Geo. C. Lee and C. N. Wilson, Secretary; 50 Pine St., N. Y. City.
De¬
positary: New York Trust Co.. N. Y. City.
V. 107, p. 1100.
11997665
STOCK AND BONDS—
railway expiring in
1952,
All franchises, except for 1 X miles of street
are
Has favorable contract to
perpetual.
April 1 1928 with the North Carolina Electrical
Power Co. for power.
Fare Increase.-—Effective Oct.
19
1 1929, was auth. by the North Carolina
Corp. Comm. to increase fares for adults from 5 to 6 cents.
V. 109, p. 1365.
8TOOK AND BONDS—
Date.
Interest.
$1,000,000 ($100)
Pref $1,000,000($100)7% cum
Common
First
Outstanding.
Maturity.
$1,000,000 See "earns.
639.700 Apr '20, 1*4
mortgage $5,000,000 g/ 1912
5 g A-O
1,220,000 Apr 1 1942
($1,000)
c*.tf\Int. at U. S. Mtge. & Tr. Co.. N. Y., trustee.
Stock.—All the common stock, except directors' shares, is held by the
Carolina Power & Light Co.
Of the amount of pref. stock outstanding,
$539,700 is in the hands of public.
Bonds.—Remaining bonds
are
issuable at 80% of cost of permanent im-
onds out and
Erovements or to be issued. Subjectearnings are whole interest charges on
additions when net to call
twice in part for sinking
as a
or
fund at
105 & int. on any int. day.
Sinking fund, X% on April 1 1917
1922, incl.; 1% 1923 to 1927; 1H% 1928 to 1932; 2% 1933 to 1941.
See V. 94, p. 1316.
to
Dividends.—%
has been paid
quar.
EARNINGS.—For
12
mos.
Gross
on
pref. stock since April 1912.
ending Dec. 31:
Net, after
Interest
Balance,
Taxes.
(Net.)
Surplus.
$276,499
$214,326
$62,173
537,450
212,261
62,001
150.260
5,519,038 passengers carried in 1918. against 5,566,567 in 1917.
ROAD.—Operates 19.2 miles of railway.
OFFICERS.—Pres., Chas. E. Johnson; V.-P. & Gen. Mgr., H. W.
Plummer; Sec., E. P. Summerson; Treas., Wm. Reiser.—V. 95, p. 110;
V. 106, p. 818; V. 109, p. 1365.
Year—
-
—
Interest.
Outstanding.
Maturity.
$6,500,000
Q-M 15
2.350,000
See text.
Stock.—Pref. stock was6% cum. from March 1 1913 and March 1 1916 be¬
came 7% cum.
Has preference for both assets and dividends, and equal
votihg power with com.
Pref. stock is subject to call at $125 per share.
Dividends.—Initial div. on pref.—1X%—paid June 15 1913.
Same
amount
quar, to and incl. March 1916.
From June 1916 to and incl.
Sept. 1917 l'A% quar. was paid.
Dec. 1917 div. passed (V. 105. p. 2455).
EARNINGS.—For years ending Dec. 31 (1917 report in V. 107, p. 499):
Calendar
Total
Expenses Bond,&c.,
Preferred
Balance,
Year—
Income.
& Taxes.
Dividends.
Sur.orDef
Interest.
$33,340
$212,893
472,194
320,260
43.657
26.752
187,337
157,145
ORGANIZATION.—Incorp. on March 20 1911 in North Carolina as
the Rockingham Power Co., sold at foreclosure.
V. 93, p. 173.
Owns and operates hydro-electric plant on the Yadkin River, lighting and
•uccessor to
Sower and electricRockingham, Hamlet and Wadesboro, N. C., and Cheraw,
C.. systems in
power systems in Lumberton and Lilesville. N. C.;
also
.
supplies, under contract, the entire requirements of the privately-owned
light and power systems in Maxton and Laurinburg, N. C
and of the
Years—
electric li»nt
and power
merville and
rimmonsvtUe
Florence
Dartugoon. Marion.
Muliixts, SumS. C.;-water in Dariington and Marion, and
to
gas in Summaryiile.
In Juae iyi5 autnorized capital stock
increased from $4,000,000 to
Interest.
Outstanding.
Maturity
$3,835,000
Q-J
822,500
Apr'20,1^
mtge $15,000,000 gold f 1911
5 g A-O
3.500,000
Apr 1 1941
($1,000 & $5,000)_c*&r.tflint, at Old Colony Tr. Co.. Boston, trustee.
First & Joint Mortgage
—See under Carolina Power & Light Co.above
Bonds.—$196,000 not included in amount reported outstanding, are in
treasury; remaining bonds are reserved for extensions. &c.
Bonds have
Pref$1.000,000($100)7%
cum.
First
impt. fund of H % of bonds out from Aug. 1 1916 to 1920, incl., 1 % 1921 to
IX% 1926 to 1930, and 2% 1931 to 1940, incl.
Subject to call as
a whole on any int. date or in part for improvement fund at 105 and int.
on 4 weeks' notice, all bonds thus acquired to be canceled.
1925,
Dividends on preferred stock were begun July 1916.
PROPERTY.—Has generating capacity of 24,000 k. w., all hydro-elec.
184 miles of transmission lines and 66 miles distributing lines.
EARNINGS.—For 12 months ending Dec. 31:
Year—
Gross.
Net (after taxes).
Int.(Net).
Bal.,Sur
——$614,678
$397,539
$202,083
$195,456
398,422
201,676
196,746
OFFICERS.—Pres., Chas. E. Johnson;.V-P. & Gen. Mgr., P. A. Tillery;
Sec., E. P. Summerson; Treas., Wm. Reiser.—V. 100, p. 2173; V. 103, p.
2245; V. 106, p. 818; V. 108, p. 783, 877.
—
1918
558.492
-
READING,
EASTERN
POWER
&
LIGHT
PENN.
as
shown:
Colonial Power & Light Co.
Claredon (Vt.) Power Co
Bonds.
;
Eastern Utilities Coal Co
a
Stock.
$1,250,000
200,000
283,000
(Vt.)_
a700,000
260,500
280,100
500,000
Preferred and common stock.
Separate statements for the foregoing companies are given below, except
for tne Eastern Utilities Coal Co., which see in V. 104, p. 2237.
In July 1917 disposed of its holdings in the
City Elect. Lighting Co. of
Vincennes, Ind., whose properties were merged with the Indiana Power &
Water Co.
On Oct. 24 1919 the General Gas & Electric Co. acquired the common
stock of the Metropolitan Edison Co. (incl. Penna. Utilities system) and
Reading Transit & Light Co., which had formerly been owned by the
Eastern Power & Light Corp.
V. 109, p. 1795.
the
Default—Sale of Collateral.—On Aug. 29 1918 the co. announced its in¬
ability to pay the principal of the collateral trust bonds maturing Sept. 1
1918.
Interest due thereon to Sept. 1 1918 was paid. V. 107, p. 1100.
On July 15 1919 the collateral securing this issue was sold en-bloc to the
note and bond holders' committee at public auction for $698,250 (we have,
therefore, eliminated notes from table below).
V. 109, p. 274.
Compare
V. 108. p. 2528In Oct. 1919 the General Gas & Elec. Co. deposited with
this committee $1,829,936 in cash and $643,400 in securities for the pur¬
chase of certain securities which had been pledged under the cos. 7% coll.
tr. notes and which the committee had purchased, as above noted.
V. 109,
p. 1795.
Net
Deductions
Income.
$1,730,931
1,743,315
1,554,619
—
Applic.to
Bal.for
from Inc. Suo.Co.Stk. Depr.,&c
$1,273,326
*$65,094
$392,611
1,199,778
1,166,300
cos.
*64,735
*59.945
478.802
328.374
not owned.
OFFICERS.—Chairman of the Board, O. B. Wilcox; Pres., J. B. Taylor;
V.-Ps.. W. S. Barstow and F. V. Henshaw; Sec.-Treas., A. P. Taliaferro,
N. Y.—V. 106, p. 2232; V. 107,
p. 499, 1100; V. 108, p. 1939, 2528; V. 109.
274,477,1795.
(1)
West
Eastern
Virginia Traction
&
Electric Co.
Power & Light Corp. owns all of outstanding common stock.
Receivership.—On Aug. 4 1919 Federal Judge Dayton at Phillipi, W. Va.,
appointed H. D. Whittemore, Gen. Mgr., receiver for the company on
application of Bonbright & Co. and other creditors in N. Y.
V. 108, p. 578.
Foreclosure Sale.—On March 16 1920 the company's property was bought
in by G. H. Walbridge, Chairman of the noteholders' committee named
below, at
V.
110, p.
receiver's sale'for $740,000, subject to underlying mortgages.
a
1189.
Compare "Plan" below.
ORGANIZATION.—Incorp. in West Virginia on July 11 1912 and ac¬
quired the City & Elm Grove RR. (Wheeling) and the Union Utilities Co.
(Morgantown).
V. 95, p. 177.
The City & Elm Grove RR. owned control
of the City Ry. Co., the Wheeling & Elm Grove
Ry., the Wheeling Park
Assn. and the Suburban Light & Water Co.
Controls City & Suburban
Gas Co. of Wheeling, which was
incorp. in Dec. 1912 (auth. capitals
$150,000). and took over the Virginia Oil & Gas Co.
Owns and operate,
electric light, power and water supply systems in Elm Grove and neighbor¬
ing towns; aa electric railway from Wheeling through Elm Grove connecting
adjacent suburban towns; electric light, power, gas and water systems in
Morgantown, W. Va.
Serves 29 communities with railway and electric
service, 26 with water and 25 with natural gas.
Owns a 33-acre park.
Holds under lease over 20,000 acres of natural gas fields, about one-quarter
developed, with extensive systems of gas wells and distribution equipment.
Also has 1,600 acres of gas and oil lands under development.
Franchises:
One expires 1927: others extend beyond 1942 or are perpetual.
Wage Increase.—V. 107,
Fare Increase.—In Oct.
combined the two
zones
respectively, into one
$2.
V. 109, p. 1527.
In
1917 the W.
Industrial
V.
Va.
consumers
105, p.
p.
183.
1919
was
auth. by the W.
Va. P. S. Comm. to
of the system for which fares had been 4 and 6 cents,
zone
with
a
10-cent fare, 25 tickets to be sold for
P. S. Comm.
of gas
auth. the
co.
to increase its rates to
in Wheeling and its suburbs, effective Oct.
1
1899.
Default.—The $1,800,000 2-year 6% secured notes maturing May 1 1919,
were not paid off, but the interest due thereon upon that date was paid as
usual,
v. 109, p. 677.
Sale of Collateral.—The $2,500,000 gen. & ref. 5s pledged as security for
the above notes were sold at public auction on Sept. 3 1919 to G. H. Wal¬
bridge, Chairman of the noteholders' protective committee, for $360,000.
V.-109, p. 982.
Compare "Plan" below.
Plan.—The committee named below representing the 2-ycar 6% secured
notes, in Mar. 1920 announced the following plan of reorganization:
The committee will organize two new cos: (1)
ajco. herein referred to as
the Wheeling Co., to which will be transferred the Wheeling-Elm Grove
properties, subject to existing underlying liens; (2) a co. (for convenience
termed the Morgantown Co.) to which will be transferred (a) the Morganproperties, subject to the Union Utilities lien; (6) the stock of the
Wheeling Co.; (c) all the 2-yr. notes represented by the committee all of
the outstanding bonds of old co., deficiency claims, &c.
Authorized Securities of Proposed Morgantown Company.
a 2d lien upon the
Morgantown properties and a 1st lien upon the stock of the
Wheeling Co.
Total auth., $5,000,0001 present issue to be._$I,136,400
(2) 7% Cum. Pref. Stock, having equal vdting power, share for
share, with the com. stock, preferred both as to divs. and assets,
red. at option of co., all or part, from time to time at 105 and
divs.
Total auth., $1,500,000; par $100 per share.
Present
issue to be
862,733
(3) Com. Stocky no div. to be paid for 2 years, net income for that
period to be carried to surplus; thereafter not more than X the
sum
which subsequently becomes available for divs. to be
paid as such, balance to be carried to surplus; with protective
provisions for maint. and deprec.
Total auth., $1,000,000;
par $100.
Present issue to be
500,000
(1) 15-Yr. 6% Gen. M. gold bds., constituting
•
.
The,committee will also arrange for the underwriting of an amount o^
(if not exchanged for notes now undeposited) to produce up to
$10,000 on or before Jan. 1 1921, if required for corporate purposes, and
will also arrange for payment to the new co. of $30,000, which, with moneys
from the mortgage receiver, will, the committee estimates, be sufficient to
provide for cost of foreclosure, committee's expenses, organization of new
bonds
CO.,
&c.
000 face value:
CORPORATION.
West Virginia Traction & Electric Co
Claremont (N. H.) Power Co.
def.
The securities received by the committee will be distributed as follows:
I. To the committee for account of the noteholders in the sum of $1,800,-
ORGANIZATION.—Organized in Virginia March 12 1913 to acquire
Improve and develop street and interurban railways and other public utlll
ties.
Properties, arp owned in Vermont, New Hampshire, and West Vir¬
ginia.
Controls the following companies through ownership of their secur¬
ities
sur.$37,896
80,617
4.632
sur.
town
was
$5,000,090.
STOCK AND BONDS—
Date.
Common $4,000,000 ($100)—
(5M)$109,666
(7%) 160,583
(6%) 141,000
Earnings of Subsidiary Companies.
Earnings.
—$4,495,593
3,969,700
1915
3.412.658
*
Amount applicable to stock of sub.
,
municipal lighting systems of Lilesville and Lumberton.
None of the
franchises expire prior to 1971.
In July 1917 acquired control of Carolina
Gas & Ehctric Cfo
(now Palmetto Power & Lighr. Co.
which supplies
Consolidated
Gross
Calendar
1917.
Yadkin
—
1917——.$393,795
Earnings.
$668,364
River Power Co.
Is controlled by Carolina Power & Light Co.
(2)
Date.
Common$10,000,000 ($100)
Pref 7% cum $10.000,000($100)
directors shares, is owned by Carolina Power & Light Co.
Does entire
commercial and municipal electric light, gas and street railway business
of Asheville, and its suburbs.
117
(a) Bonds in 60% of face of defaulted notes, $1,080,000;
(b) pref. stock, 40% of face of defaulted notes, $720,000; (c) pref stock,
interest at 6% on defaulted notes from May 1 1919 to Jan. 1 1920,
$72,000.
II. To holders of the outstanding $94,000 of bonds of West Virginia Trac.
& Elec. Co.: (a) Bonds, in 60% of face of bonds of old co., $56,400; (b) pref.
stock, in 40% of face of bonds of old co., $37,600; (e) pref. stock, for int.
at 5% on bonds of old co. from May 1 1919 to Jan. 1 1920, $3,133.
III. To
bankers in consideration for $30,000 cash, for underwriting
$10,000 new securities, for loan of $40,000 to committee, for assignment of
$591,098 of proven claims in receivership representing cash advances, to
old co.: (a) Pref. stock, $30,000; (b) com. stock, $500,000.
For further
details see V. 110, p. 1416.
1
Committee for 2-Year 6% Secured Notes.—Chairman G. H. Walbridge,
R. U. Lansing, A. V. Morton, J. O. Sheldon, J. A. Van Mater; Seel, B, G.
Curts, 26 Broad St., N. Y. City.
Depository, New York Trust Co., N. Y.
V. 109, p. 677.
u
I
Date.
STOCK AND BONDS—
Interest.
Outstanding.
Maturity.
Common $2,000,000 ($100)
$1,250,000
Pref$2,000,000 7% cum ($100)
619,600
See text.
Secured notes gold $2,000,000/
1917
6 g M-N
1.800,000 May 11919
($1,000, $500 & $100)
c*\Int. at New York Trust Co., N. Y., Trust.
Gen & Ref M
1917
5 g M-N
$15,000,000
See text
May 1 1942
($100,$500&$1.000) g_c*tf New York Trust Co., Trustee..
1912
6 g M-N
572.000 Nov 1
City & Suburban Gas 1st M
1932
$1,000,000 ($1,000)—c*tf Int. at Equitable Trust Co., N. Y., Trustee.
1906
5 g J-J
City & Elm Grove cons coll
1,119,000 July 1 1936
Int. at Union Trust Co., Pittsburgh, trustee.
tr M $2,500,000 g ($1,000)
1898
5 M-S
Wheeling & Elm (trove first
150,500 Marl 1928
mortgage $225,000 ($500)- .Sinking fund retires $5,000 annually.
Wheeling&Elm Grove M (see/ 1901
5 A-O
794,500 April 1 1931
text) ($1,000 & $100) g..c*ilnt. pay. at Dollar Savs. & Tr. Co., Trustee.
for
.
—
—
.
Utii. 1st mtge
$1,500.-/ 1909
5 g J-J
917,000 July 1 1944
000 gold ($1,000).-- c*cptllnt. at Farmers* L. & Tr. Co., N. Y.. trustee.
Un.
Bonds.—Notes
callable at 100 X and int.
are
Additional notes may be
net income is 2 X times annual interest charges on notes
outstanding and to be issued.
No additional bonds may be issued by the
co. or its subsidiaries during the life of these notes except for the acquisition
sold only when
Federal income tax
Notes are secured
$3,049,000 of the bonds
of property.
Interest payable wtihout deduction for
not in excess of 2%.
Pennsylvania State tax refunded.
by pledge of $2,500,^00 gen. and ref. mtge.
reserved to
are
bonds.
retire underlying bonds, $94,000 are pledged as coll. for
loans, and the remainder may be issued to acquire 1st M. bonds of other
under specific Restrictions or for extensions and improvements at
80% of cost under certain restrictions.
A renewal, impt. and redemp.
fund of 1% per ann. of bonds out began Oct. 1 1918.
Call, or all part
at 101 and int. on any int. date on 4 weeks' notice.
The City Sc Sub¬
cos.
Gas
urban
bonds
Co.
are
guar.,
p.
& L, by the West
Trac¬
Virginia
They are redeemable, as a whole or part, on any
cumulative sinking fund of 2% on outstanding
bonds began in 1916: $128,000 not included in amount outstanding, are held
in sinking fund.
Of the City & Elm Grove consolidated collateral trust
bonds, $1,000,000 are reserved to retire prior liens.
Are subj. to call on any
int. date at 105 and int.
V. 83, p. 491.
The auth. amount of Wheeling &
Electric Co.
&
tion
interest date at 105 and int.:
but was reduced in Feb.
Union Utilities 1st mtge
bonds, not included in amount outstanding, $10,000 are.in the treasury,
$266,000 are kept alive in sinking fund, and remainder are reserved for
imj>rovements and extensions at 75% of cost.
Red. at 105 and int. on any
int. day on 30 days' notice.
Sinking fund 1 % semi-annually of bonds out.
After setting aside 1% s.-a. and payment of 7% on pref. and 10% on com.,
sinking fund shares equally with any further div. on com.
V. 90, p. 373.
Dividends.—7% per annum has been paid on pref. stock since organlz'n,
Elm Grove Ry. mtge. was originally $1,250,000,
1906 to $1,000,000.
V. 83, p. 379 , 491, 625.
Of
Balance,
Surplus.
$82,369
122,523
$96,838
81,331
aggregating 6,000 h. p. capacity:
2 water pumping stations; 2 gas pumping stations: 143 gas wells; 152 miles
of electric lines; 179 miles of gas pipe lines; 74 miles of water pipe liries:
45 miles of urban and suburban railways, largely on private right-of-way.
PROPERTY.—2 electric power plants
Standard gauge.
91 cars.
Mgr.. If. D. Whittemore;
Treas,, A. P. Taliaferro; Sec. & Asst. Treas., 0. N. Wilson.—V". 109,
p. 677, 777, 982, 1527; V. 110, p. 563, 972, 1189, 1416.
S.
Barstow;
Gen.
Power & Lt. Corp.
Claremont Power Co.—Controlled by Eastern
and
Furnishes electric light
power
in Claremont, N. H.
Capital stock,
5% bonds due July 1 1937,
$600,000 com. and $100,000 pref.; first mtge.
$400,000; 6% notes, $85,000.
Eastern Pow.& Lt.Co
ORGANIZATION.—Incorp. in Springfield, Vt.,
Owns and operates
electric light and power properties in Cavendish, Manchester and Spring¬
Colonial Power & Light Co.—Controlled by
(3)
Hydro-electric power station has 1,500 k. w.
field. Vt.
cars,
costing approximately $215,000.
United Traction Co.—$3,000 Oley
outstanding
held in treasury.
are
Front & Fifth St. bonds are
called at 105.
redeemable at
105
ending Dec. 31;
Other
Fixed
Preferred
Income.
Charges. Dindends.
$3,855,228 $1,284,700 $.35,111 $1,090,569 $102,000
3,122,557
1,134,963
19,055 1,034,017
60,000
EARNINGS.—For years
Operating
1918
1917
Net (after
Revenue.
Year—
Tares).
Red. at 105&
3 weeks' notice
Firstmtge.
on
Interest.
($100)
Stock $1,000,000
Outstanding.
$260,500
Maturity,
co.
we
was
formerly controlled by the Eastern Power & Light Corp,
1918 to a group of local manufacturers since which
sold in Nov.
was
time
have been unable to obtain information as to the co.'s
latest statement
For
affairs.
1917 and $34,372-,830 in 1916.
trolley road.
(a) Reading Traction.—A
ORGANIZATION.—Inc. Mar. 9 1893 in Penna. to operate
years,
and $30,000 thereafter, and all bond interest.
Interest.
Outstanding.
Maturity.
J-J
$1,000,000 Jan '20, 75c.
8 g J-J
50.),009 Jan 1 1933
c*cpt[ Provident Life Jc Trust Co.. Phila.. Trustee.
Interest is payable in Reading at the Colonial Trust Co.
Bonds are
Usted on the Philadelphia Stock Exchange.
V. 88, p. 749.
Dividends.—In 1900. 2%; In 1901, 2X%\ in 1902 and since, 3% per ann.
LEASED LINES SECUR'S.
Date.
Interest.
Outstand'g. Last Div.,Ac.
Date.
STOCK AND BONDS—
First mtge, $600,000
Not subject to call
gold gu/
1893
Reading City Passenger Ry—
Stock ($350,000) (par $50)East Reading Electric Ry—
Stock, full paid (par $50)
Bonds, $25,000
cpt 1897
Reading & Temple Electric Ry—
Stock, $75,000, guar
cpt
1st mortgage. $75,000
Oarsonia Park Mtge 5.40%f
lation of about 200.000.
5 to
Reading, Norristown,
On Sept. 16 1918 fares in Reading and Leb¬
Fare Increase.—On Jan. 10 1918 an Increase in street-car fares from
6 cents went into effect on all lines of the company in
increased
to
7
cents.
Fares
on
the remainder of the system
been.increased to 8 cents.
V. 107, p. 1005.
Excess fare receipts are
being issued pending final decision by the P. S. Comm. as to validity of
have
incr©&s0s
The
$2,450,000 6% notes due Aug. 1 1919 were retired on Oct. 24 1919.
; "
"
Y. 109, p.1793.
STOCK AND BONDS.—
j Date.
Common, $3,650,000
Preferred, $2,600,000
Gen & Ref Mtge, $30,000,000.
Old Read. T. & Lt. Co.—
Car
trust
certificates
"A"/
certificates
trust
certificates
trust
Traction
Aug 1 1947
5 J-J
70,000
See text
at Girard Trust Co., Phila., trustee.
5 M-N
40,000
See text
1917
/Int. at Pa.Co.for Ins.on Lives,&c..Phila..tr.
37,500
5 J-J 1
Seetext
c*\Int. at Girard Trust Co., Phila., trustee.
Co.—
trust/
5 J-J 1
248,000 July 1931
\Int.at Real Es,T.I,&Tr.Co.,Phila.,trustee.
5 g J-J
400,000 Jan 1 1925
000 ($100 &c)
c*.cpt. [Int.at Real Es.T.Ins.& Tr.Co.,Phila.. trustee
Birdsboro St RyM, $250,0001 1904
5 g J-J
250,000
Jan
1934
gold ($500 & $1,000).c_cpt/Int. at Colonial Tr. Co., Reading, Trustee.
Boyer& P St Ry 1st M,$300,-/ 1906
5 g F-A
300,000 Aug 1 1936
000 ($500 & $l,000)g.c*cpt\lnt. at Colonial Tr. Co., Reading Pa., Trust.
Front&5th St Ry 1st M $50,-/ 1903
5 g J-J
50,000 July 1 1933
Oley
Valley
Ry
stock
certificates $250,000
Read-Womelsd
1st M
$400,-/ 1895
000 g ($100 & $500).c*cpt. Int. at Colonial Tr. Co., Reading, Trustee.
1901
4MB J-J
250,000
July 1 1931
Oley Valley Ry first mtge,
$250,000 g ($l,000).c*cpt Int.at Real Est. Title Ins.&Tr.Co.,Phila.,Tr.
4 J-D
100,000 June 1 1931
Neversink Mountain bonds._
,Int. at Colonial Tr. Co., Reading.Pa..
Trust.
Leased Line Securities—
Adatfn & Mohn
1st
mortgage/ 1904
75,000
5 g J-J
Jan 1 1935
($1,000)
r*cpt(Int. at Colonial Tr. Co., Reading, Trustee.
Read-9 W 1st M.
$100,000/ 1900
5 F-A
100,000 Aug 1 1931
($500 & $1,000)
-c*cpt(lnt. at Penna. Tr. Co., Reading, Trustee.
See separate statements for Reading Traction, Schuylkill Valley Tract.,
$75,000,
and
g
Lebanon#Valley Street Ry. below.
,
,
Bonds.—$8,000,000 R. T. & L. Co. Gen. & Ref. Mtge. bonds are re¬
merged and leased companies and
to acquire leased cos. if purchased.
Additional bonds may be issued only
for 80% of the reasonable cost of new property, exts., &c., when net income
is 1 \i times the annual interest charges, incl. bonds to be issued.
A main¬
tenance and depreciation fund of at least 15% of annual gross earnings is
provided, any part not used for maint., renewals and replacements may be
served to retire underlying bonds of the
®*P®?d»d for exts. and addns., such expenditures not to be the basis for
additional
bondsu
Seetext.
1 1937
25,000 July
5 J-J
7 A-0
5 A-0
A-0
,
73,700
Seetext.
73,700 Oct. 1 1924
12.000
Int. at Reading Tr. Co., Reading.
Stocks.—The Reading City Passenger stock
inclusive, 10%; 1900 and thereafter 12%.
received dividends; 1896, $0,500; 1897 to 1900, Inclu¬
sive, $7,000; thereafter, $8,000.
Reading & Temple Electric pays 7%
annually In dividends, A. & O.
Bonds.—Reading Trust Co. is trustee for East Reading Elec. Ry. bonds
subject to call in 1927 at par.
Int. on Reading & Temple bonds is payable
at Reading Trust Co., trustee.
Coupon ($100, $500 & $1,000).
Dividends
on
Leased
Line
Gauge 5 ft. 2X in.
ROAD.—Leases 48X miles of track.
Rails, 90 lbs.
88. p. 749.
Transportation Co. owns all of the $500,000 capital
stock and the entire $100,000 Income bonds.
Lease.—Leased for 900 years from April 1
1910 to Reading Transit Oo.
(succeeded by Reading Transit <k Lt. Oo.) Rental, $5,000 1st and 2d yeare,
$15,000 annually thereafter, and $1,000 annually for maintaining organisa¬
tion.
Reading Transit & Lt. Co. also assumes all obligations of Schuylkill
Valley Trac. and its leased lines.
Nor¬
1985
Since Jan. 15 1895 has controlled and
operated the Conshohocken Ry., the Montgomery County Passenger Ry.,
the Citizens' Passenger Ry., the Collegeville Electric Street Ry. and the
NorrLstown Passenger Ry.
The corporate existence of the several com¬
panies is to be maintained, but their bonds will be taken up as rapidly as
ORGANIZATION.—Incorp. in Pennsylvania Sept. 8 1893 as the
Bridgeport & Conshohocken Traction Co., and on Jan. 5
ristown
chartered
as
present company.
passible.
In Jan. 1902 leased for 950 years the Roxborough Chestnut Hill & Norris¬
Ry., Including that company's leases of the Wissahlckon Electric
Passenger Ry. and the Trappe & Limerick Electric Ry.
town
gj 1895
Outstanding.
Interest.
I
Date.
STOCK AND BONDS—
Stock, $500,000 ($50)
Maturity.
$500,000
245,000
Aug. 1945
c cptlInt.atWestEndTr.&S.D.Co.,Phila.,Trustee.
Income mortgage,
$100,000/ 1899
5 ann.
100,000 Aug. 1 1949
($500)
cpt(WestEndTr.&SDCo.,Philadelphia. Trustee.
Of the $500,000 first mortgage dated 1895, $100,000 has been retired and
destroyed, $75,000 has been reserved to take up like amount of the Norris¬
town Passenger Ry. bonds and $80,000 to retire the Citizens' Passenger Ry.
First
mortgage,
($1,000)
$400,000,
5 g F-A
,
bonds.
companies are as follows, including both
public and by the parent company.
The securities of the subsidiary
those held by the
Citizens'Pass Ry stock ($50)
Interest.
Miles.
STOCK AND BONDS—
1916
A"/ 1912
$150,000 ($1,000)
United
See text
5%
Maturity.
"B"\
$50,000 ($500)
Reading Transit Co.—
Car
1917
Outstanding.
$3,650,000
1,700.000
tint,
$100,000 ($1,000)
Car
Interest.
Seetext.
100,000
A-0
1894
\
(John McFadden)
$350,000
J-J
received dividends, 1896 to 1899,
The Unltod Power &
ORGANIZATION.—Incorp. Augl 1917 as a merger of the old Reading
Transit & Light Co. (which then ceased to exist) with the United Traction
Co. (Reading), Boyertown & Pottstown Ry., Birdsboro St. Ry., Reading
& Womeisdorf Elect. Ry., and Front & Fifth St. Ry., all of these properties
having been operated under lease.
Controls through stock ownership the
Oley Valley Ry. and Neversink Mountain Ry.
Leases the Lebanon St.
railway system and the properties of the Reading Traction Co., Adamstown & Mohnsville Electric Ry., Schuylkill Valley Traction
Co., and
Reading & Southwestern Ry.
Owns or controls and operates the street
railway systems in and about Reading and Lebanon, and the system of
street
and interurban railways extending from Reading through
Nor¬
ristown
to
Philadelphia,
serving
a
population
of
about 350,000.
Principal leases contain options to purchase, also satisfactory provisions
for refunding underlying obligations.
Franchises are without time limit
and unrestricted with unimportant exceptions.
The company also operates all the utilities supplying electric light and
power without competition in 57 towns, incl. Reading and Lebanon, Pa.,
and wholesales to distributing companies In 32 towns having a total popu¬
were
the Reading
(b) Schuylkill Valley Traction.—Trolley.
READING TRANSIT & LIGHT CO.—
common stock owned by the General Gas & Electric Co.
comi
All the
Roxborough and Lebanon.
1793;
City Passenger Ry. and East Reading Electric Ry., which it equipped with
electricity and leased for 99 years, the former from April 1 1893, and the
latter from May 1 1893.
On Oct. 1 1894 leased the Reading & Temple
Electric Iiy., for 99 years.
The Reading Traction was leased on Jan. 1 1896
to the United Traction (now Reading Transit & Light Co.) for 900 years at
a rental of $10,000 annually for first three years.
$20,000 for next two
V.
anon
109, p. 1462, 1527, 1700,
OFFICERS.—Pres., E. L. West.—V.
110, p. 1089.
'
this publication of Nov. 15 1919.
see
70.002
East Reading stock
CLAREMONT RAILWAY & LIGHTING CO.
This
$127,242
237 passenger and 50 service cars;
3 power plants having 43,000 b.p. generating capacity, 426 miles electric
pole lines.
In 1918 carried 32,235,933 passengers, against 36,845,865 in
,
5 g M-S
533,000 Mar 1 1943
[Int. at Equitable Trust Co., N. Y., trustee.
int.j 1913
Sinking fund of 1% per annum began Mar. 1 1918.
but
,
_
Balance,
Surplus.
Property, &c.—203.12 miles track.
.
Date.
STOCK AND BONDS—
incl. in
Valley Ry. stock trust certfs.
Birdsboro St. Ry. bonds may be
red. at 105. They are guar., p.&i.,
by endorsement by United Traction Co. (now Reading T. & L. Co.).
The Boyertown & Pottstown bonds are guaranteed, prin. & int., by endorse¬
ment by United Traction (now Reading T. & L. Co.).
Reading & Womeis¬
dorf bonds are subject to call at par.
Adamstown & Mohnsville bonds are
amt.
Stock, $1,000,000 auth ($50)
•
W.
OFFICERS.—Pres.,
Series "A," mature
int. date at 101 and
Secured by 25 cars,
Reading Transit &
Light Co. car trust certifs., Series "B," mature $5,000 annually to Nov 15
1927; subject to call on any int. date at 101 and int. on 30 days notice.
Secured by 9 cars.
Reading Transit Co. car trust certifs.. Series
A,
mature $7,500 semi-annually to Jan. 1 1922; $105,000 paid off; subject to
call on any int. date at 101 and int. on 60 days' notice.
Secured by 36
Old Reading Transit & Light Co. car trust certlfs.,
$10,000 annually to July 1 1926; subject to call on any
int. on 30 days'notice.
$30,000 have been retired.
title remaining with trustee until entire issue is paid.
V.
(incl. affiliated cos.):
Other
Interest,
Year—
Earnings.
Taxes).
Income.
Rentals, &c.
1918
$1,143,953
$<130,667
$17,598
$365,896
1917
1,050,981
464.830
12,369
354,676
Latest Earnings.—12 months ending June 30:
1918-19
$1,225,302
$439,693
$18,846
$361,700
1916-17
1,088,940
'
427,832
15.311
361,811
EARNINGS.—For years end. Dec. 31
Calendar
Gross
Net (after
(2)
[Vol. 110
ELECTRIC RAILWAYS
118
-
Issued.
Maturity.
$79,400
6H
80,000 Feb. 1 1925
guaranteed
cpt Subject to call at 105 on any interest date.
Int. at Norris'n Title, Tr. &S.D.,Co., True.
145,900
Conshohocken Ry stock ($50)
5X
100,000 July 1 1924
1st
M
guar,
prin & int/
5g J-J
Norristown Tr. Co., tr.
$250.000
cDtlSubj. to call at 105.
150,000
Montgomery Co Pass Ry stock
IX
15,000
1923
lBt
mtge
$150,000...cpt/
IX
6 J-J
\lnt. at Albertson Tr. & 8. D. Co., Trustee.
NorrLstown Pass Ry stk ($50).
4H
75,000
First mortgage
cpt/
4X
6 J-J
75,000 ;
1923
\Int. at Albertson Tr. & S. D. Co., Trustee.
1st mtge ($500)
5 g F-A
$80,000 gold
-
...
Bonds.—The Conshohocken Ry. bonds ($100,000) and the Montgomery
County
Passenger Ry. issue
($15,000)
held by the Schuykill Valley
are
Traction Co.
ROAD.—Operates 72 miles of track,
tioned companies, and also Roxborough
Gauge 5 ft. 2X in. Rails60and
including lines of above-men¬
Chestnut Hill & Norristown.
lOOylb. T and girder. 97 cars. V. 70, p.281.
Roxborough Chestnut Hill Sc. Norristown Ry.—A trolley road.
United Power & Transportation Co. owns 4.959 out of the 4,968
snares of the capital stock.
In Jan. 1902 was leased for 950 years to the
Schuylkill Valley Traction at a rental of $4 50 per share, payable semi-ann.
(a)
Tht
he
ORGANIZATION.—Incorp. Dec. 2 1S95 in Penna.
In 1898 leased the
Electric, 3X miles, for 950 years; rental to be 2% on the
Wissahickon
$145,842 stock for the first two years, 3% for the next six years, 4% for
the next seven years and 5% for the rest of the term.
Also owns the
$250,000 stock of the Trappe & Limerick Electric Street Ry. and leases that
company for 950 years.
Comprises 22 miles of track.
In June 1896 filed a
mortgage, for $450,000 to the Real Estate Title Insurance & Trust Co.,
Philadelphia, securing 5% gold bonds ($1,000) J. & D. (cpt), due June 1
1926.
Issue reduced to $396,000, of which $371,000 was outstanding on
Dec31 1918.
Capital stock auth., $450,000; issued, $248,400; par, $50.
Trappe & Limerick Elec. St. Ry. 5% gold stock certfs. due July 1 1931;
int. (J. & J.) at Real Estate Title Ins. & Trust Co., Trustee.
Auth., $250,000, and outstanding, $249,000.
Secured by deposit of $249,000 stock of
the Trappe & Limerick Street Ry.
ROAD.—Total track,
girder.—V. 62,
p.
1042.
20X miles;
gauge,
5 ft. 2X In.; rails. 70 to 90-lb.
APE., 1920.]
ELECTRIC
RAILWAYS
(?) Trappe & Limerick Electric Street Ry.
ORGANIZATION.—Incorporated in
Pennsylvania
July
on
25
Years end. June 30—
Fare passengers
1899.
Was leased on Dec. 31 1901 to Roxborough Chestnut Hill & Norristown
Ry.
for 950 years at a rental equal to 5% per annum on capital stock, interest on
First
Date.
-
Interest.
------
Outstanding.
'
Transfers--
See
—
1917-18.
1916-17.
82,645,749
645,950
16,508,244
1915-16.
69,807,331
714,733
17,151,090
67,226,456
699,156
16.281,570
Total passengers
109,746,152
Iv.w.hrs. output, com'l.121,925,030
Maturity.
$250,000
1918-19.
91,556,392
597,891
17,591,869
Free passengers..
bonds, taxes and $100 maintenance expenses.
STOCK AND BONDS—
Stock $250,000 ($50).-
119
text.
$250,000 gT 1901
4*4 g J-J
250.000 July 1 1931
($1,000)
c*cpt ilnt. at RealEstateTltle Ins.&Tr.Oo.,Phil.Tr.
Bonds.—Are guar., p. & i. by Roxborough Chestnut Hill & Norristown.
mortgage
99,799,943
87,673,154
84,207,182
108,620,075
95,068,363
75,409,277
452,886.600 475,881,800 426,911.700 394,961,300
$8,429,283
$7,457,530
$6,044,495
$5,645,158
5,393,533
4,100,492
2,941,293
2,676,179
Gas sold, cubic feet
Gross earnings
Operating
expenses
ROAD.—Length of line 13.35 miles.
Net
(c) Lebanon Valley Street Railway.—A trolley road.
Lease.—Leased to Reading Transit & Lt. Co. for 900 years from April 1
1910.
Annual rental of $40,000 and yearly payment of $500 for organiza¬
tion, as well as taxes and Interest on bonds.
Net
STOCK AND BONDS—
Date.
Common
Interest.
Gauge 5ft. 2Y* in.
$2,968,979
$3,472,902
$1,924,378
$3,201,593
$1,817,057
$3J)65,589
$1,742,668
*
6% of
$545,166
144,732
*505,766
$889,330
120,077
*469,802
$549,702
192,448
*359,904
$491,687
68,804
100,000
loss._def.$105,332 sr.$299,45l
def.2,650sur.$322,883
x Represents 2.5158% in stock of Old Dominion
gross earnings,
Steel Corp.—Ed.
Iron &
Rails 50. 75,
96,610
(3%)239,970(6%)479,952(6%)476,352(6%)472,752
x300,679(1*4)179,243(3%)358,482(3%)358,482
dividends
Bal. to profit &
5 g J-J
ROAD.—Owns 22.08 miles of track.
90 & 100-lb. girder.
23 cars.
$3,103,202
98,391
Surplus for year
Direct charges to P. &L.
Depreciation reserve--
Outstanding.
Maturity.
$500,000
See text.
500,000 July 1 1929
($100 $500 & $l,000)c_cptl Int. at Real Est. T. Ins. <fc Tr. Co.. Phils. Tr,
1899
$3,357,037
115,865
$3,190,521
$2,104,700
income
Taxes, interest, &c
—
gold/
$3,035,750
154,771
Preferred divs
ORGANIZATION.—Incorporated on June 28 1899 as a consolidation of
the Lebanon & Annsville Street Ry. and the Lebanon & Myerstown Street
Ry.
The United Power & Transportation Co. owns all the 10,000 shares
of the capital stock.
Stock $500,000 (par $50)
First
mortgage
10-30s
earnings
Other income
ROAD, &C.—The company operates 255.09 miles of single track; 569
and 49 service cars.
Also owns valuable park properties and
Rails, 95 to 119-lb. girder and 60, 70 and 80-lb. T.
5
power stations and 18 sub-stations, combined capacity 129,575 k. w.
A
transmission line between Richmond and Norfolk, completed and in opera¬
passenger
other real estate.
METROPOLITAN
FDISON CO.- -See "Railway and Industrial" Sup-
plement for May 1920.
tion in
RICHMGND,
VIRGINIA
RAILWAY
POWER CO.
&
ORGANIZATION.—Incorp. in Virginia on July 1 1909. and Is successor
to the Virginia Passenger & Power Co. sold at foreclosure May 5 1909.
V.
89, p. 44, 105.
Toe reorganization was under plan given In V. 87, p. 347.
On July 1 1911 took over by consolidation the Norfolk & Portsmouth
Trac. Co. (into which was merged the Norfolk & Atlantic Terminal Co on
June 30 1911), and increased its stock to $12,000,000 com
and $8,000,000
pref.; $150 Virginia Ry. & Power com. was exchanged for each $100 Norf. St
Portsm. com.;
the pref. was exchanged share for share.
V. 93, p. 106.
For history of Norfolk St Portsmouth Traction organization sea "Electric
Railway Section" of June 1911, p. 84.
Through acquisition of Norf. & Portsm. Trac., the Virginia Ry. St Power
Co. acquired the lease of the Norfolk Ry. St Light Co. for 99 yeari from
years
June 1 1906 and the entire $100,000 cap'
: ~
*
'
capital stock and ($1,000 .000) bonds
of the Norfolk & Ocean ViewRy. Co. (dissolved Apr. 5 1917).
On June 29 1912 sold to Richmond St Rappahannock Ry. the "Seven
Pines Line" of railway, 29th and P Sts., Richmond, to Seven Pines. Henrico
County, 8.88 miles, for cash consideration of $25,000.
V. 95, p. 1397.
On
July/20 1916 the shareholders ratified the merger of the Richmond
Ry. & Viaduct Co. (all of whose stock was owned), and auth. an Increase
In pref. stock from $8,000,000 to $9,000,000 in connection therewith.
The
new stock is held in company's treasury.
V. 103, p. 407.
Owns or controls through lease
ire
practically the entire street railway, electrie light and power business In Richmond, Petersburg, Norfolk (all
1c
power
except
line to Virginia Beach), Portsmouth and Berkeley; an Interurban railway
connecting Richmond and Petersburg; a line from Norfolk to Sewell's Point,
where connection is made by fetry to Newport News and Old Point Com¬
fort; electric light business of Suffolk, Va.; the City Gas Co., with unllmlfcod fF&xi chises«
Franchises.—The Manchester St Petersburg Ry. franchises are perpetual.
The principal railway franchises In Richmond expire in 1926 ana 1931.
The Interurban
railway franchise expires in 1981.
The water power rights
These rights are only partly
development.
The more im¬
portant rights for lighting in Richmond expire in 1927 and 1928 and In Man¬
chester in 1931.
The Petersburg lighting franchises are prepetual.
V. 89,
p. 529.
Franchises for street railways in Portsmouth expire in 1926, 1927
and 1932.
Street railway franchises in Norfolk expire In 1944.
In 1915
the City of Suffolk granted a new 30-year franchise to do a light and
power
business and made a 10-year contract for municipal light and power service
with certain rights of renewals.
Negotiations are in progress with the cities
of Richmond and Norfolk for the entire revision of the railway and light
and power franchises.
In Jan. 1913 Virginia Supreme Court held company liable for the coat
of paving between and two feet outside the tracks.
Valuation of City Gas Co.—See V. 110, p. 1416.
On Dec. 29 1917 the stockholders approved the issuance of $950,000 6
collateral trust notes to pay for capital expenditures, particularly a big
voltage transmission line from Petersburg to Suffolk.
Possible Sale to Cities.—In Jan. 1919 it was reported that Frank J. Gould,
principal owner of the co., had offered to sell nis holdings to the cities of
Richmond and Norfolk and to accept municipal bonds in payment. V. 108,
p. 380.
Fares.—On Feb. 3 1919 the Common Council of Richmond, Va., voted
to grant the co. an increase in fares from 6 tickets for 25 cents to a straight
In Richmond and Petersburg are perpetual.
utilized and are capable of a large further
5-cent fare.
Labor tickets formerly sold at 2 for 5 cents will now be sold
at the rate of 6 for 25 cents.
V. 108, p. 685; V. 110, p. 765.
In Mar. 1919
the increased rates were approved by the Mayor.
V. 108, p. 975.
On
Sept. 28 1919 fares in Norfolk and, on Sept. 29 1919, in Portsmouth, were
zalsed to 6 cents, with 2 cents for transfers.
A 6-cent fare in each of the
rones outside these cities also went into effect.
V. 109, p. 1368.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity
$11,950,200
See text
7,999,400
See text
First and refunding mortgage/ 1909
5 g J-J
11,586,000 July 1 1934
$15,000,000 g ($1,000).-C*(Int. at Equitable Tr. Co., N. Y., trustee.
Richmond Railway St Elec-| 1890
5 J-J
17,000 July 1 1920
trie first mortgage
(Metropolitan Trust Co.. New York, trustee.
Norfolk St Portsm 1st mtge/ 1906
5 g J-D
6,302,000 June I 1936
$8,000,000 ($1,000) gold.-lint, at Baltimore Trust St Guar. Co., trustee.
Norfolk & Atlantic Term lstf 1899
5 g M-S
487,000 Mar 1 1929
mtge $500,000 gold
(Interest at Alex. Brown St Sons, Baltimore.
Collateral trust notes $950,1918
6 J-J
650,000
See text
000 ($500 & $1,000)—c.ntf/Int. at Va. Tr. Co., Richmond, Va., Trustee
Common $12,000,000 ($100)
Preferred $9,000,000 ($100)
A-O
J-J
—
Stock.—The pref. stock was entitled to non-cum. divs. of 5% up to Jan. 1
1914 and thereafter to non-cum. divs. up to 6%.
Both com. and pref. are
listed on the New York, Philadelphia and Baltimore Stock Exchangee.
V.
92,
p.
882,1033,1111,1375;
V. 93, p. 230.
See official statement to N. Y.
Stock Exchange, V. 92, p. 1118.
Bonds.—$68,000 of the first and ref. bonds are reserved to retire $32,000
Richmond Ry. St Electric first mortgage (of which $15,000 are in treasury),
together with $36,000 Richmond St Allegheny RR. bonds which matured
Aug. 1 1911 and are held in treasury pending release of mortgage and ex¬
change for Virginia Ry.& Pow. Co. bonds.
$779,000 are In treasury, and
remaining $1,868,000 reserved for future improvements, subject to certain
restrictions.
Sinking fund, *£ % semi-annually of bonds out from 1914 to
1919 and >4% semi-annually thereafter; $699,000, not included in amount
reported outstanding, neld in sinking fund April 1 1920. Bonds are subject
to call at 105 & int.
V. 92, p. 1212.
Listed on N. Y , Phila. and Baltimore
Stock Exchanges.
V. 94. p. 125; V. 96. p. 1425; V. 100, p. 557,
Unissued
Norfolk St Portsmouth 1st M. bonds of 1906 may be issued for acquisitions,
extensions and improvements, but not over
$500,000 in any one year.
A
sinking fund
of
*4%
per
annum
of outstanding bonds
began
June 1 1916, which is to be invested in the bonds; $194,000, not Incl. In amt.
reported outstanding, held in sink, fund April 1 1920.
Are subj. to call at
110 and int. on any int. date upon 60 days' notice.
Bonds are listed on
Phila.. Boston, Bait, and Pittsb. Stock Exchanges.
V. 83, p. 492.
Notes.—The
coll.
tr.
notes
mature
as
follows:
$100,000 semi-annually
1920.
OFFICERS.—Pres., Thomas S. Wheelwright, Richmond; Vice-Presi¬
dents, Fritz Sitterding; V.-P. & Gen. Mgr., C. B. Buchanan of Richmond;
V.-P. & Gen. Counsel, E. Randolph Williams, Richmond; Sec. & Treas.,
Geo. B. Williams, Richmond; Asst. Sec. & Asst. Treas., Geo. H. Taylor,
New York; Gen. Aud. & Asst. Treas.. W. J. Kehl; Asst. Gen. Aud. & Asst.
Treas., A. E. Dickson.
General office; Richmond, Va.
N. Y. office, 149
Bway.—V. 109, p. 73, 372, 1077, 1368, 1610, 1886; V. 110, p. 765, 1416.
VA.
(1)
Norfolk Railway & Light.
Lease.—Was leased
on
June 1 1906 to Norfolk & Portsmouth Traction Co.
<«lnce consolidated
with Virginia Ry. & Power Co.) for 99 years, rental
addition to all rixed charges), $16,500 each June 1 and Dec. 1
from June 1 1906 to June 1 1907, inclusive, and increasing to $49,500 s.-a.
on Dec. 1
1912 and thereafter.
V, 82, p. 1323.
being (in
•
ORGANIZATION.—Incorp . In Va. Nov. 2 1899 as a consolidation of the
following; Norfolk Street RR., Norfolk & Ocean View Ry., Virginia Elec.
Co. and Berkeley Light & Power Co.
Owns entire stock of the Norfolk
Light, Heat & Power Co.
Street railway franchises expire in 1914, except
» small
portion of mileage in Norfolk, which expires in 1934.
Electric
light franchise expires in 1930.
The company controls the street railway,
electric lighting and power business of the city of Norfolk and owns a line
of railway to Willoughby Spit and connects with steamer to Old Point
Comfort; also owns 4,011 shares out of 5,000 sharas of the stock of the
City Gas Co. of Norfolk, remaining shares, 989, owned by Virginia Ry.
k Pow. Co.
On Aug. 30 1904 the City Gas Co. purchased the Berkeley
Gas Co.
V. 79, p. 968.
Stock is listed on Phila. and Bait, stock exchanges.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
\
Maturity.
$1,650,000 ($25)
6 J-D
$1,650,000 Dec *19.3%
Virginia Electric Co. 1st mtgef 1898
5 A-0
10.000 April 1 1928
I
$500,000 gold ($1,000)lint, at U. S. Mtge. & Tr Co., N. Y., trustee.
Norfolk Street 1st cons mtgef 1898
5 g J-J
887,000
Jan 1 1944
$1,040,000 gold ($1,000)-c\lnt. at Merc. Tr. & Dep Co.. Bait., trustee.
Norfolk Ry&Lt 1st cons
mtgf 1899
5 g M-N
2,567,000 Nov I 1949
$4,000,000 g ($1,000) s f_c*Unt. at Internat. Tr. Co., Baltimore, trustee.
Oity Gas Co first mortgage-. /
6 J-D
500,000
June
1926
fU. S. Mortgage & Trust Co., N. Y., trustee.
Bonds.—Of the Norfolk Ry. & Light first consol. mtge. $1.050.000 Is re«erved to retire underlying bonds.
Sinking fund began Nov. 1 1909, and
orovides for the purchase of 1% of outstanding bonds each year at 110 or
less.
See V. 70, p. 584.
$425,000 of bonds not reported outstanding held
in sinking fund April 1 1920.
$171,000 Norfolk Street RR. bonds not re¬
ported outstanding also in sinking fund as of Aprli 1 1920.
Stock
OFFICERS.—Pres., Thomas S. Wheelwright: V.-Ps., T. Norman Jones
Jr. and F. Sitterding; Sec. & Treas., W. J. Kehl.—V. 82, p. 1323; V. 106,
925.
p.
ROCHESTER, N.
Y.
NEW YORK STATE RAILWAYS.—Of the common stock, $13,604,300
(also $600 pref.) owned by New York Central RIi.
ORGANIZATION—-Incorporated in New York
on
March 22 1909
as
a
consolidation of the Rochester Ry. Co., the Rochester & Sod us Bay Ry. Co.
and the Rocb. & Eastern Rapid Ry. Co. (as per plan V. 88. p. 53. 823, 945.)
and on Oct. 17 1912 the P. S. Comm. approved the further merger with the
Utica & Mohawk Valley Ry., Oneida Ry., Syracuse
Rapid Transit Ry. and
Rochester <Sr.Suburban Rv
all of whose stocks had alreadv been owned.
V. 95, p. 1040.
Aug. 28 1919 the co. merged into itself the East Side Trac¬
tion Co., the entire stock of which had been owned since 1912.
Compare
V.
108,
683.
Railway was a consolidation of the Rochester City Sc
RR., the Cross-Town RR. and the South Park RR., and leased
the Rochester Electric Ry. from July 1 1894 for 50 years, at a rental of 8%
on $200,000 stock, and whenever gross receipts exceed $55,000, oue-quarter
The
p.
Rochester
Brighton
of such
excess
In 1917 the property
and franchises of the Ontario Light & Traction Co.,
disposed of to the Rochester
other than the electric railway property, were
Ry. & Light Co.
On March 10 1910 Pub. Ser. Comm. authorized an Increase In stock from
123.140,200 to $23,860,200 to be used to take over the Rochester & Subur¬
ban Ry. (stock $420.000). the Rochester Electric Ry
'stock $200,000) and
the Ontario Light & Traction Co. (stock $100,000).
See V. 90, p. 914,1425.
In Jan. 1912 applied to Public Service Comm., 2d Dist., for authority to in¬
crease stock to $25,362,500.
V. 94, p. 68.
Permission was not granted.
The following is a list of the stocks owned by the N
Y. State Railways:
Schenectady Railway Co
—$2,050,000 or 50%
of whole amount
Syracuse Land & Steamboat Co__
10.000 " 100%
"
"
Syracuse & Valley Land Co——
4,450 " 100%
"
Glen Haven Improvement Co—
14,500 " 100.00%
"
Ontario Light & Traction Co
100,000 " 100.00%
"
"
Rochester Electric Railway Co—
175,000 "
88.30%
"
"
Miscellaneous
7,695 " 2 to 8%
"
"
*
Also owns $56,155 Oity of N. Y. 4*£% coup. "Corp. "stock and $158,766
railroad
bonds.
Franchises
in
Rochester
are
practically perpetual and exclusive, with
exception of a few extensions which run for 50 years.
Contract for Power.—Power for all lines is supplied under/a long-term con¬
tract with the Rochester Gas & Electric Corp., whose entire com, stock is
owned by Mohawk Valley Co. (in|turn owned by N. Y. Central RR.).
On Feb
19 1915 the P. S .Comm. denied the city of Rochester's applica¬
tion for an order directing the company to reduce Its fare in the Rochester
tone from 5 to 3 cents during rush hours.
V. 100. p. 643.
For P. S. Commission's decision dismissing complaints of residents of
Oneida. Chittenango Station, Syracuse and other places asking lower
commutation and school rates. &c.. see V. 101. p. 213.
fares,
Jitney Decision.—See V. 102, p. 2167.
*
On Dec 29 1916 the Court of Appeals tipheld the constitutionality of the
Charlotte annexation bill which provides for a single 5-cent fare within the
Favorable
city limits
as
The co. appealed from the decision, was defeated,
Court, and on Sept. 13 1918 a decision
extended.
and carried the
case
to the Supreme
favorable to the company was rendered.
Valuation.—At a hearing held before the P. S. Comm. on
Feb. 26 1919
1912 and 1913, 5%.
In 1914. 5*4%.
In 1915 to and incl. 1918. 6% per
annum.
Jan. 1919 div. of 3% paid on July 20 1919.
V. 109, p. 73.
On
appraised valuation of the company was given as $53,326,235.
Wage Award by War Labor Board.-—V. 107, p. 501.
Fares.—In June 1917 applied to P. S. Comm. for auth. to increase faree
from 5 to 6 cents in the cities of Rochester, Syracuse, Utica, Rome. Oneida,
and Little Falls.
On April 18 1918 Judge Cuthbert W. Pounds In the
N. Y. State Court of Appeals at Albany handed down a decision holding
that the Commission cannot increase fares on Rochester surface
lines.
The
first div.—1%—paid Oct. 1911.
In 1912, 2%.
In 1913 to 1917,
incl., 3%; April 1918 div. omitted (V. 106, p. 1127); Oct. 1918 div. of 3%
made payable in the stock of the Old Dominion Iron & Steel Corp.
V. 107, p. 1288.
None since.
firmed
from Jan. 5 1919 to Jan. 5 1921 incl., $200,000 July 5 1921, and $250,000
Jan. 5 1922.
Are subject to call all or in part at 102 and int. on any int.
date
on
30 days' notice.
Dividends.—On
pref..
first div.—1*4%—paid July
1
1910.
In
1911,
the
com.,
was
REPORT.—Of combined properties
(1919 report in V. 109,
p.
1886):
this decision.
V.
109, p.
auth. the company to charge a
1610.]
In Nov.
1918 the P. S. Comm.
6-cent fare in Syracuse and Utica "for the
ELECTRIC
120
duration of the war and a reasonable
time thereafter."
V. 107, p. 2098.
company's application for a 6-cent fare in Rochester being denied, the
reduce its service for a trial period of 30 days
beginning on Jan. 1 1919.
YT. 107, p.. 2370.
Compare V. 107, p. 188;
V. 108, p. 172.
On Aug. 1 1919 applied to the P. 8. Comm. for auth. to
charge 2 cents for transfers in Rochester, but on Sept. 25 1.919 this petition
was denied.
See V. 109, p. 1273: also V .110. p. 202.
The $175,000 Rochester City & Brighton 1st Mtge. 6s due April 1 1919
were not retired at maturity, but have been extended indefinitely at the
The
Comm. auth. the company to
rate of interest.
same
See text
$19,952,400
Q-J
Common $19,997,700 ($100)
Pref $3J862,500 ($100) 5%cum
Maturity
Outstandino.
Interest.
Date.
STOCK AND BONDS—
3.802.500 Apr '18. \ M
Nov
1
196^
1912
4J£ ~g M-N 13.457.000 Nov 1
c*&r*tf Security Trust Co. of Rochester, trustee.
Interest at Treasurer's office, New York.
1890
5 g A-O
2 665,000 April I 1930
Rochester
Ry Consolidated
Mortgage $3,000,000 ($1.- Interest at Treasurer's office. New York
000) gold
c* Bankers Trust Co., New York, trustee
1893
5 g J-D
1.500.000 Dec 1 1933.
Roch
Ry 2d M $1,500,000
gold ($1,000)
c* Int. at Security Tr. Co., Rochester, trustee
1889
6 A-O
175.000 April 1 1919
Rochester City A B 1st mtge
Interest at Rochester Trust & Safe Dep. Co.
$500,000 ($500)
1901
4^ g M-S
2.268.000 Sept 1 1941
Utlca & Mohawk Vail 1st M
$4,000,000
gold
($1,000) Interest at Harris. Forbes A Co., New York
1st cons M Ser A
$50.000;000f
gold ($1.000)
'
500.000 Nov 1 1939
N. Y., trustee
39.000
Jan 1 1931
Interest at N. Y. Trust Co., N. Y., trustee
1895
5 g J-J
150.000
Jan 1 1926
Int. at Farmers' Loan A Tr. Co., N.Y., trus
1896
5 g M-8
2.500.000 Mar 1 1946
Guaranty Trust Co.. New York, trustee
5 M-N
1889
Interest at N.
gold ($1.000)
Utica Belt 2d
York Trust Co.. New York, trustee
New
called
cannot be
c*
Utica Belt 1st mtge $500,000
mtge $200,000,
gold ($500)—,;
c
Y. Trust Co..
5 J-J
1891
Mo Ilion A Frankfort
mtgeg$150,000 ($l,000)c*
Syrac R T 1st M ($3,250,000)
gold ($1,000)
c*
do
2d mtge $750,000 ($1
/ 1900
5 g J-J
654.000 Jan 1 1930
000) gold
(Int. at Citizens Sav.A Tr.Co. .Clev.. trustee
People's RR first mortgai y 1891
5 J-J
750,000 Jan 1 1921
gold ($750,000)
'nterest at Merchants' Nat. Bank. Syracuse
Easti Side Traction 1st M f 1899
5 J-D
250,000 June 1 1929
$250,000 ($1,000) gold.. 1 nt. at Citizens Sav.A Tr. Co., Clev., trustee
Herk
36.000
Real estate mortgages
can
be Increased only with
consent of
twc
preferred stock, and holders are to have right to tak<their proportionate shares of such Increase.
Stock Is subject to call at 110
upon any div. day on 30 days' notice.
V. 88. p. 945.
Both stocks artlisted on N. Y. Stock Exch.
See official statement, V. 92. p. 951.
Bonds.—Of the first consol. bonds. $11,486,000 are reserved to retire
stock
Stock.—Preferred
thirds of outstanding
underlying bonds.
The remaining bonds may be Issued for equip., impts.
&c., to the extent of 90% of the cost, and for acquisitions at actual costs
provided In each case that the annual net income (incl net Inc. on securitle*
owned) shall be
times the annual Int. charge on all bonds, incl. underly
ing bonds then outstanding and any add'I 1st consols, desired to be issued
Ser. A. bonds are red at lr»5 A Int. on 60 days' notice
V 95. p. 1208: ar<
isted on N. Y. Stock Exchange; exempt from Federal, State, county and
Rochester Ry. cons. & 2d M. bonds cannot be called.
Syracuse Ran. Tran. 2d M. bonds are subject to call on any Interest date.
municipal taxes.
Dividends.—1J*% on pref. paid July 1909 and quar. to and incl. Aprii
July div. passed (see V. 106, p. 2759).
On com., 1^% quar. from
July 1910 to July 1914; Oct. 1914, 1%.
V. 99, p. 894.
In 1915, 4%; Id
1916, 4?*%; in 1917, Jan., 1%; April, 1%; July, 1%.
None since.
1918.
31 (after allowing
charges)—1919 report in V. 110, p. 1078:
Net, after
Other
DeditcSink. Pf.Divs, Balance,
Revenue.
Taxes,&c. Income,
lions.
Fund, (i J* %) .Sur. or Def.
REPORT.—Combined statement for years end, Dec.
for inter-company
Calendar
Gross
Year—-
^
^
^
9,405,911 1,668,550 37,473 1.361,816 31,641
8,470,160 1,291,789 38,505 1,374,076 31.067
1919
——
sur.312.566
48,281 def.123,130
ROAD,—On Dec. 31 1919 operated 337.44 miles of railway, of which
276,43 miles owned, 60.92 miles leased, and .09 trackage rights.
Miles
main single track, 559.97 (of which 427.46 miles owned, 132.33 miiles leased
and .18 miles trackage rights); sidings, &c.t 36.98 miles: total track mileage,
596-95.
Miles of railway owned, leased and operated by subsidiary cos.,
in addition to mileage operated directly by N. Y. State Railways:
1918
Owned.
a
4.69
2.53
59.78
Rochester Electric Railway
a
Ontario Light A Traction Company
6 Schenectady
Railway Co
Total—
a
Leased
Operated
69 3'
..67.00
9.58
69^6
N Y State Rys. owns a half Interest.
and 135 other cars (including 2 electric
plows; total, 1,038.
Has 844 passenger, 20 express
locomotives) and 39
snow
OFFICERS.—Pres., James F. Hamilton; V.-Ps., John Carstenseni
Kernan and Benjamin E. Tilton; Treas., M. S. Barger, N, Y.;
Sec. & Asst. Treas., J. C. Collins, Rochester: Asst. Sec., H. L. Reichart.
Rochester. N. Y.; Gen. Aud., J. M. Joel.—V. 107, p. 2098, 2188, 2376,
Walter
2476;
V. 108, p. 172, 6S3,
784, 872; V. 109, p. 127.3, 1610; V. 110, p. 262,
1078.
Schenectady Railway.—A trolley road
x ■'
Is owned Jointly by the N
Y. State Rys. and the Del A
Hud. Co.. one-half by each.
V. 80, p. 652; V. 87. p 286, 545; V. 88, p. 54
(1)
Entire stock
ORGANIZATION.—Incorporated In New York
A reorganization od
Co., which was chartered In 1886
business In Schenectady and owns and
operates double-track lines to Albany. Troy and Ballston Spa, and, under
traffic agreements with the
Hudson Valley Ry.. from Ballston Spa to
Saratoga Springs.
Has trackage rights over the United Traction Co.'n
tracks Into Albany and Troy.
Franchises perpetual
I
Favorable Decision Regarding Fares.—On May 21 1914 the P. S. Comtu
dismissed the complaint, of the city against the company In which an order
was asked compelling the company to sell six tickets for a quarter Instead
of a straight rate of 5 cents.
V. 98, p. 1609.
See also V. 100, p. 231.
Wage Award by War Labor Board.—107, p. 502.
Fares.—The restrictions in certain franchises within the city of Schenec¬
Feb
11
1895 of Schenectady Street Ry
Controls the entire street railway
tady as to 5-cent fares were waived by Common Council April 28 1919.
Ahe P. S. Comm. on May 20 1919 decided favorably upon the application
of the company for permission to increase rates.
The increased rates, made
effective May 26 1919, were as follows;
(a) On the Schenectady urban
lines the rate of fare was increased from 5c. to 6c.
(ft) On the Troy interurban division the Schenectady-Troy rate was
Intermediate zone rates were changed from 5c.
urban fare of 7c.
Increased from 26c. to 30c.
to 6c. and a minimum inter-
Schenectady-Ballston rate was increased from 26c. to 30c.
The inter¬
mediate zone ifates were changed from 5c. to 6c. and a minimum interurban
fare of 7c. was established,
(d) On the Albany interurban division the
Schenectady-Albany rate was increased from 26c. to 27c.
See also V. 110,
p. 563.
STOCK AND BONDS—
Date.
Interest.
-
Outstanding.
$4,100,000
Maturity
See text
f 1916
5 g M-S
2.676.000 Mar 11946
gold ($1,000)
_c*.)U S Mtge. A Trust Co.. N Y . trustee.
Btmas.—$324,000 additional bonds may be Issued to retire floating deb"
—
—
LOCKPORT & BUFFALO RAILROAD CORP.
ORGANIZATION.—Incorporated in New York on April 4 1919 as suc¬
to the Buffalo Lockport A Rochester Ry. (for history see
Electric
Railway Supplement" of March 29 1919) as per reorganization plan ra
V. 108, p. 682.
The 1st Mtge. bonds of the old co. were exchanged for
$500 pref. and $750 common stock of the present company for each $1,000
bond, while the 2d Mtge. bonds of the predecessor co. received $500 m new
pref. and $500 in new common stock for each $1,000 bond.
The common
and pref. stocks of the old co. did not participate in the plan.
Fares.—Was auth. by the N. Y. P. S, Comm. to put into effect in Lockport on April 1 1919 a 6-cent fare, to continue for 1 year and thereafter until
further order of the Comm.
V. 108, p. 1390.
Compare Y. 106, p. 2449.
Effective July 10 1919, interurban rates were raised to 25* cents per mile
with 1 Yi cents per mile for commutations.
STOCK AND BONDS—
Date.
Interest.
Outstanding. Maturity.
ROCHESTER
Common $2,200,000
Preferred $1,500,000 cum
Stock.—Preferred stock is pref. as to
$5,000,000 may only be Issued for 80%
conservative restrictions, and may bear
Bonds In excess of
of cost of extensions.
&c.. under
interest, not exceeding 6%. and be callable under such terms and
as the directors may determine
Ser "A" bonds are callable at
condition102 <4 and
Exempt from N. Y. State, county municipal per¬
sonal property taxes.
V. 102, i>. 887.
Dividends.—Initial div.—2Y%—in 1906; 1907 and 1908. none, in 1909
4%; 1910. 6H%; 1911 to 1915. 6%.
In 1916. 5%.
In 1917, 35*%.
int.
on
any
int. date.
Net (after Other (net)
DeducBalance,
Taxes).
Income.
Hons.
Sur; or Def.
$193,274
$3,913
$151,485 sur.$45,703
19*8
91,759 defl,079
150,715 def. 60,035
**DAD.—Operates 139.82 miles of track, of which 114.58 miles owned
and 25-24 miles operated under traffic agreements.
70, 75, 78 and 80-Ib.
1'
girder rail.
Has agreement with Fonda Johnstown A Gloversvllle
Ky. Co. (electric division) whereby latter company operates its cars Into
Schenectady.
Does a package express business through controlled Electrp
Express Co.
Operates 200 motor and 33 other cars.
EARNINGS.-V
Cal. Year—
1919__._
--
Gross
Earnings.
.$1,664,282
1,422,654
$2,199,250
1,499,500
-
6%
------- —
assets and dividends.
The by-laws
provide that no mortgage shall be placed on the property or assets of the
co. in priority to the pref. stock, without the consent of the holders of twothirds of the outstanding pref. stock.
V. 108, p. 682.
EARNINGS.—For years ending Dec. 31:
■
Gross
Net (after
Other
Interest,
Balance
CaL Year—
Earnings.
Tares).
Income.R entals, &c. Sur. or def.
1919
$553,566
$127,770
$4,041
$6,678 sr.S125.134
1918
455,483
110.962
5,168
209,299 def. 93,169
ROAD.—Operates about 58 miles between Rochester and Lockport.
Rails 70 to 80-lb.
E. R. Wood, Toronto, Ont.;
OFFICERS.—Pres.,
Sec., Treas. A Gen. Mgr., W.
ROCHESTER
V.-P., A. S. Muirhead.
Y.—V. 108, p. 1512]
W. Foster, Rochester, N.
MAN1TOU RR.
&
ORGANIZATION.—Incorporated on Aug. 12 1908. Acquired property of
Rochester Charlotte tic Manitou. sold at foreclosure July 21
1908.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
the
Stock $60,000 ($100)
First mortgage $60,000
$60,000
58.000 May 1 1929
Rochester, trustee
fund.
Bonds are
—-
goldf
1909
5 g M-N
($500 and $1.000)
.c*ntf(Int. at Security Trust Co..
BONDS.—$2,000 bonds remain unissued.
No sink.
luhiect to call at 105 and int,
on 8 weeks' notice.
—
Earnings.—For year end. Dec. 31 1919, gross, $35,515; net, after taxes,
$1,966.
In 1918, gross, $26,905; net, after taxes, def., $2,072.
OFFICERS.—Pres., Henry W. Wedel; Sec. alio Treas., Kendall B.
Castle; Supt., Geo. M.
Wegman.—V. 87, p. 545; V. 88, p. 1314.
ISLAND, ILL.
«Sc POWER CO.
ROCK
MISSISSIPPI
RY.
VALLEY
ORGANIZATION.—Incorp
Rock Island Southern Ry., the
in Delaware July 1 1915 to take over the
Aledo Terminal Ry.. the Rock Island Alexis
'Ry. and the Edwards River Power Co. (all formerly operated
[Bland Southern Ry.), as per plan of readjustment In V. 101. p.
bv the Rock
449. Under
plan acquired all the com. and pref. stocks of these companies and
11,341.200 (out of $1,873,200) 1st M. bonds of the Rock Island Southern
Ry. and $415,000 Aledo Term Ry. 1st M. bonds.
the
Default—Interest Funding Plan.—Being In need of at least $150,000 for
Rock Island Southern Ry. property, and finding It
lien bonds In view or the unsettled finan¬
cial situation, the Miss. Valley Ry. A Pow. Co. entered into an agreement
with the holders of the $532,000 Rock Island Southern Ry. bonds not owned,
by which the time of payment of interest on those bonds and the bonds held
by the M. V. R. & P. Co. will be extended for 3 years.
The M. V. R. 8c P.
Co. being without funds to pay the Interest due July 1 1917 on Its 1st A ref.
5% bonds, holders of said bonds have been requested to exchange their
coupons for the 3 years beginning July 1 1917 for bonds of the same Issue,
the rehabilitation of the
Inadvisable to sell additional prior
for par.
par
details
further
The unissued Prior Lien bonds are to
see
V. 105, p. 607.
Interest and
be canceled.
For
principal due June 1 1917 on the
$266,000 coll. trust notes of the R. I. Southern Ry. remaining unpaid, the
$532,000 1st M
5% bonds of that company pledged as collateral, were
sold at foreclosure Aug. 27 1917. presumably to the committee for the note¬
Sale
of Collateral.—The
Compare V
105. p 607.
Sub.-Co. Receivership.—In April 1920,
C.
N.
C.
and
Abbott
Ry.—V.
STOCK AND
Judge Martin J. Wade appointed
the Rock Island Southern
Bacon receivers for
H.
110, p. 1642.
.
$2.000.000
Prior Lien bonds $300,000 1st f
refunding mortgage ($100.(
Preferred stock
.
1915
Maturity.
Outstanding.
$2,291,060
1,079.524
Interest.
Date.
BONDS—
Common stock $2.500.000
See text
abt. 175.000
5 J-J
abt,800,000 July 1 1945
5 J-J
1915
c*(Int. at Columbia Trust Co.. N Y., trustee.
Ac.)
Rock Island Southern Ry.—
First mtge $2,500,000
1908
5 g J-J
1.873,200 Jan 11947
-tf'Central Trust Co., Chicago, trustee.
g($100)f
$500 and $1,000).
Voting Trust —The com. and pref. stocks have been deposited
trust expiring In
1920
Trustees- Henri C. Morand. A. C.
T. P. Gaylord, J. J. Fleming, J. A. Hanley, M A. Walsh, O. H.
In a voting
Chambers,
Walsh and
H. Clark.
Will
Is made for the retirement of the prior Hen bonds out
fund or by the sale of other bonds, the bonds taken In ex¬
securities then becoming an absolute first lien.
Addi¬
tional bonds may only be issued for betterments, extensions, Ac., under
carefully guarded restrictions.
$1,341,200 of the JR. I. Southern Ry. bonds
are owned by the Miss. Vail. R, &
P. Co.
Latest Earnings.—For cal. year 1918, gross, $321,069; net, after taxes,
$54,352.
In 1917, gross, $271,744; net, after taxes, $50,143.
ROAD.—Runs north from Monmouth to a connection with the Chic.
Bonds.—Provision
of the sinking
change for the old
Rock Island & Pac. Ry. at
Monmouth Junction, 31 miles,
and thence op¬
erating Into city of Rock Island, a distance of 22 miles, over line
vears from C. R. I. & P. Ry., which has been electrified.
Also
leased for 25
7 miles from
Aledo and 6 miles from Alexis Jet. to Alexis.
Total
miles of single track operated, 72.29.
Has connections for Davenport,
la., Mollne and Galesburg, 111.
10 pass.. 243 freight, 2 express and freight
and 7 work cars; 7 steam locomotives.
75-85-lb. rails.
Also operates the
power house located at Edwards River.
OFFICERS.—Pres., J. A. Hanley. Davenport, Iowa; V.-P., T. P.
Gaylord. Pittsburgh: Sec.. M. A. Walsh, Clinton, la.—V. 101. p. 449;
V. 105, p. 607; V. 110, p. 1642.
Gilchrist June,
to
^
ROCKLAND,
ME.
MAINE RAILWAYS.
LIGHT & POWER CO.
ORGANIZATION.—Organized in Maine June 3 1914 as a holding com¬
pany to control street
railway, electric lighting, gas and hydro-electric
properties.
In addition the company will have a complete organization
prepared to furnish engineering, appraisal or management services to
owners of other public service companies.
Owns 86% of the stock of the Rockland Thomaston A Camden Street
Ry
and the entire common stock of the Oxford Electric Co.
Owns and
—
and for other corporate purposes.
Remainder of first $5.000.000(Ser."A")
may be Issued from Mine to time for cash cost, of extensions and permanent
Improvements.
Aitkin; Gen.
102, p. 887;
cessor
the
Stock $7,000,000 ($100)..
First
mortgage
$20,000,000
B. Weatherwax;
Treas. & Purch. Agt J. H.
Aud.. F. E. Belleville.—V.
502, 1385; V. 110, p. 563,
Jas. P. Barnes: Sec.,
Aud., J. C. Collins, Rochester;
V. 106, p. 612, 2561; V. 107, p.
(c) On the Ballston interurban division
established,
was
Hamilton; V.-P., Harry
OFFICERS.—Pres., James F.
Gen. Mgr.,
holders.
9 58
b
Leased to N. Y. State Rys.
[VOL. 110.
RAILWAYS
operates a gas
plant In the city of Rockland
and furnishes electric light and
In the city of Rockland, towns of Camden. Rockport, Thomaston.
Paris. Mechanics Falls and Oxford
V 99. p 1832.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity
Stock common ($100) $500,000
$250,000 —
Pref 6% cum t$100> $500,000.
...
250.000
See text
Coll bonds $260,000 ($500 &f 1914
5 J-J
170.500 July 11919
$1.000) red on any Int datei Int.
at UdIod Safe Dep. A Trust Co..
at 102
I
Portland. Me., trustee.
Dividends.—6% Is beine paid on preferred stock
r
Earnings.—Of controlled properties for 12 mos. ending June 30:
Year—
Gross.
Net (aft. Taxes).
Charges
Surplus.
1916-17
$290,053
$86,273
$42,550
$43,723
power
Warren. Norway.
1915-16
OFFICERS.—Pres..
268.496
91,003
William T. Cobb; Treas..* F.
J. Thompson.
Address,
J. H. Drummond; And., E.
39,992
51.011
H. Bradford; Clerk,
Union Mutual Bldg.,
Portland. Me.—V. 99. p. 1832.
(1) Knox County Electric Co.
Feb. 1901 the Rockland Thomaston
In
& Camden St. Ry. was consoli¬
A Electric Co. and a new mortgage for $800,000
proceeds of which the old bond Issues of both companies
dated with the Knox Gas
was
made from the
APR..
1920.)
ELECTRIC
RAILWAYS
131
retired.
The consolidated co. was operated under the name of the
Rockland Thomaston & Camden St.
Ry. until April 1 1919, when the present
was adopted.
V. 108, p. 2022.
86% of the stock is owned by the
Maine Railways, Light & Power Co.
are
STOCK AND BONDS—
Stock $400,000 ($100)
Fare Increase.—In Nov. 1917 the Vermont P. S.
Comm. auth.
in fares from 5 to 6 cents for each zone.
V. 105, p. 2095.
were
19 56-17
p. 626.
In March 1908 consolidated with the latter
company, thus com¬
pleting consolidation of all the Rutland public utilities.
V. 86. p. 1044.
Franchises have been granted by special Acts of Vermont
Legislature and
title
'1st
mortgage
Date.
Interest.
Outstanding.
Maturity.
$400,000
See text
$800,000
gold/ 1901
4 g J-J
800.000 Jan
1 192)
($500 and $1,000)
c.cptUnt. at Union S.D.&Tr.Co., Portland, trust
Bonds.—No sinking fund and bonds cannot be called.
Dividends.—Are being paid quarterly at the rate of 5% per annum.
ROAD.—Operates 23.92 miles of track from Warren through Thooiastor
to
Rockland, Rockport and Camden.
In Sept. 1901 purchased "Oak
lands," a park of 75 acres, for a pleasure resort.
20 pass., 1 express car
8 freight cars. 4 work cars, 3 snow
plows and 1 combination car.
EARNINGS.—For
year
Year—
STOCK AND BONDS—
Net.
$241,255
224,521
Oxford
Electric
41.993
Entire common stock owned by Main*Rys., Light & Power Co.
Operates 2.13 miles of electric railway between Norway and Paris: 40-lb
T rail; standard gauge.
Also does an electric light and power business
OFFICERS.—Chairman of Board, G. Tracy Rogers; Pres., W. S. Bar-;
95,
ST.
Outstanding.
1967-8
in Franklin and Chittenden counties, Vermont.
Stock authorized.
$200,000; outstanding, $125,000.
Fares.—On Dec. 9 1918 the City Council voted to release the
co. from the
5-cent fare limit and to give permission to increase fares to
7 cents. V. 107.
p. 2477.
In March 1920, however, we were informed that a 6-cent fare
then in force.
In Jan.v 1920 the city of St. Albans modified the
co's.
franchise relieving it from paying all
paving obligations until net earnings
equal 5% of the P. U. Comm's. valuation of the proprety.
V. 110,
was
p.
EARNINGS.—For calendar
Maturity
July'17 1 %
Oct. 1 1917, for retirement of bonds at not
exceeding 105 and Int.. o»
investment In new properties, &c.. against which no bonds
may be Issued
Remaining $2,150,000 are reserved for not exceeding 80% of cost or fair
value of additional property or equip., or add'ns.
exts., Impts., &c. under
conservative restrictions.
V. 103, p. 61.
Dividends.—On common in 1909. 2%: 1910.
1%; 1911, 3%; 1912. 6%;
1913, 5%.
In 1914 and to and Incl. July 1917, 1% quarterly; none since.
Dlvs. on pref. stock were begun in Sept. 1916.
EARNINGS.—-For cal. year 1918, gross, $200,497;
net, after taxes,
$59,492.
In 1917, gross, $181,709; net, after taxes, $60,737.
1919
complete and well-equipped electric lighting
Power plant has generating capacity of 1.750 k. w. (held In reHas long term contract for power with Georgia Ry. & Power Co.
OFFICERS.—Pres., S. A. Oulberteon; V.-P and Gen. Mgr., S. S. Bush,
Louisville, Ky.; Supt., H. J. Arnold, Rome.—V. 103, p. 146; V. 108,
p. 172
T
as
the
changed to present
by order of Supreme Court.
In March 1912 Public
Service Comm. approved the making of a new
mtge. and the issuance of
$800,000 bonds thereunder; also auth. the Issuance of $757,500 additional
stock (V. 94, p. 698; V. 93, p. 940).
The new bonds were Issued In April
26
1917
the
P.
S.
Comm.,
2d
Dist.,
1st M. bondf
authorized
an
increase in fare from 10 to 15 cts. between Mineola
and Port Washington;
also granted increases between other
points on the lines in Nassau County.
On Jan. 9 1918, the Public Service Commission for
the First District denied
the company's application for an increase in fare from
5 to 7 cents on its
lines in Queens Borough, N. Y.
City, holding that, inasmuch as the co.
obtained the consent of the City of New York to the use of
city streets
only by agreeing never to charge more than 5 cents as its rate of'fare, the
Comm. has no power to authorize an increase fare unless the
city shall
first waive or modify the limitation contained in its
franchise
contract
with the company.
V. 106, p. 296, 1127.
Patrons of the line for a time
voluntarily contributed two cents in addition to the regular 5-cent fare,
in an effort to help keep the road
operating.
On Aug. 28 1919 P. S. Com¬
missioner Nixon auth. a zone system
providing for 4 zones with a 6-cent
fare in any single zone and an 11-cenfc fare for a continuous
trip.
V. 109,
p. 888.
A suit was begun in the Supreme Court on Sept. 17 1919 to have
this order declared null and void.
For further particulars see V.
109, p. 1180
On Oct. 27 1919 P. S. Commissioner Nixon was served with a writ
of cer¬
tiorari, obtained by Corporation Counsel Burr from Justice Ga
vegan of the
Supreme Court, calling for a review of the above order.
V. 109, p. 1700.
Service, which for a short time had been suspended, was resumed about the
middle of March 1920.
V. 110, p. 1188.
'
On March 23 1920 was auth. by the N. Y. P. S. Comm. to
put into effect
the following fare schedule:
Between Port
Washington and Mineola (four
of 7c. each), 28 cents; City Line, Little Neck and Mineola
(four zones
of 7c. each), through, 28 cents; Mineola terminus and
iiicksville (2 zones of
8c.-each)', 16 cents.
V. 110, p. 1526.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity
Stock $1,250,000 ($50).
zones
$979,350
800,000
....
First mtge $3,000,000
$500 and $1.000).
g($l00.1
1914.
c* tf/Int
5 A-O
at Citizens'Sav. & Tr
Apr
11954
Co.. Clev.. trust
Bonds.—Sinking fund created for property, which will revert to City of
York, at expiration of franchises.
Moneys may be used to retire
bonds or for acquisition of new property.
Subject to call at 102 and mt
at any int. date.
Edwin V. Hale. Cleveland. O.. Is co-trustee.
EARNINGS.—For year ending June 30:
New
Net (afler
Gross
$160,591
Other
Taxes).
$21,348
$37,926
.
Year—
Income.
Interest,
Rents,<%c.
$48,551
$9,356
Balance,
Sur.orDef.
def.$17,847
$1,710
*48.518
def.$8.882
Latest Earnings.—For cal. year 1919, gross.
$146,711; net, before taxes,
def., $2,161.
In 1918, gross, $151,859; net, before taxes, $4,634.
.$158,361
ROAD.—Operates from
Flushing
Whitestone. and
to
from
Flushing
through Bayside, Douglaston, Little Neck. Manha^set, Roslyn, Mineola
and Westbury to HickgvMe, with branch from Roslyn to Port
Washington
total track. 38.08 miles: 29.42 miles of road.
Standard gauge; 70 and 103-lb
girder rail.
Cars (motor 19, other 4). 23.
1,000 k. w. turbines.
Owns
power
station
with
two
OFFICERS.—Pres., Geo. A. Stanley, Roslyn: V.-P., Benj. A. Hegeman
Jr., N. Y City: Sec. & Gen. Mgr.. John G Moran. Roslvn; Treas
George
F. Scofield, Cleveland, O.—V. 106, p. 296, 1127; V.
107, p. 1193, 1482;
V. 108, p. 79, 480, 683; V. 109, p. 888, 1180, 1700; V.
110, p. 970, 1188.
.
RUTLAND, VT.
RUTLAND RAILWAY. LIGHT
$1,679,100 of the stock is owned
which
see
In
our
5c
by
POWER
CO
the General
Gat
A
Electric
Co..
"Rv. & Ind." Section
ORGANIZATION.—Is
a
consolidation
.'/.'J:"'
.
Feb
1906
of
"'v';''
A. Persons, Greenfield, Mass.; V.-P., Fuller O.
Sec., Elmer Johnson. Sc. Albans; Treas.. Walter r
Clinton, Mass.; Gen. Mgr., A. W. Peterson, St. Albans, Vt.—
V. 107, p. 2477; V. 110,
p. 360.
St.
Albans:
ST.
LOUIS, MO.
UNITED RAILWAYS CO. OF ST. LOUIS.
Is controlled
bv North
American Co
of New York
Receivership.—On April 12 1919 Judge Dyer in the U. S. Dist. Court
appointed Rolla Wells receiver for the co. on petition of Samuel
W. Adler of N. Y., the co. joining in the prayer for
receivership.
The co.'s
inability to repay the 6 mos. loan of $3,235,000 made to it by the War
Finance Corp. on June 1 1918 was the cause of the
appointment.
V. 108.
p. 1611. (this has since been paid).
On April 24 1919 the receivership suits
instituted by Samuel W. Adler, and Elmer A. and Robt. J.
McLaughlin
at St. Louis
were consolidated under the John W.
Seaman suit by Judge Dyer in the
U. S. Dist. Court and Rolla Wells, who had been
automatically removed as
receiver in the order making the Samuel W. Adler suit an intervening one to
p. 716; V. 107, p. 907; V. 108,
81, 1513.
Subsidiary Companies Receiverships. -In Oct. 1919 Rolla Wells was
appointed receiver of the Missouri Electric Ry., the Florissant Construc¬
tion,
Real Estate & Investment Co. and the Merchant's Express Co.,
subsidiaries, on application of Thomas Francis, attorney for the United
Rys. Co.
V. 109, p. 1368.
\
Receivers' Certificates.—On July 16 1919 the receiver was auth. to issue
$2,300,000 receivers' certifs. for the purpose of paying off a loan of $3,235,000
made the co. by the War Finance Corp. in
May 1918 which had been secured
by $3,500,000 Union Depot RR. 1st M. 6s.
The certifs. were issued in
Sept. 1919 and are a first and prior lien on the lines of railroad, property
and franchises of the Union
Depot RR., and also a lien upon all the other
lines of railroad, property and franchises of the United
Rys. Co. of St. Louis,
subject only in the latter instance to existing divisional mortgages.
The
$3,500,000 Union Depot RR. First Mtge. 6% bonds pledged as
security
for the above loan were canceled, and
owing to the priority of these certifi¬
cates to the United Railways Co. Gen. Mtge.
4% bonds, these certificates
will become a first lien on about 213.53 miles of
city lines and 49.64 miles
of county line out of a total of about 345.29 miles of
city lines and 115.59
miles of county lines comprising the United
Railways system.
For further
particulars see V. 109, p. 982.
The Jan. 1 1920 coupons on the Gen. M. 4% bonds were
paid when due.
p.
ORGANIZATION.—Incorporated In Missouri
Central
On
Traction
Dec
31
the
Rutland
$180,000 stock and $120,000 bonds of the Rutland City Electric Co.
V. 83
Co., but changed its
1906 absorbed
the St,
on
March
11
189*
as
the
to above on July 10 1899.
Suburban Ry., giving its pref.
name
Louis &
stock, share for share, for the stock of that company.
The United Rys.
guarantees the $4,500.00'/ gen
mtge. bonds of the St
L. & Sub Ry.
See
v
83. p 39; V
84. p. 105.
In 1908 acquired a controlling interest in the
Missouri Electric Co., successor to the St. Louis St. Charles & Western
RR
which was sold at foreclosure in
July 1905.
The United Rys Co. comprises ail the street car lines in operation in St
Louis.
The co. was originally leased to the St. Louis Transit Co., but under
.
readjustment arranged In Oct. 1904 by Mesnrs. Brown Bros. & Co.
(V. 79, p. 1333) the lease was canceled and the $17,264,300 stock of that
company nearly all exchanged for voting trustees' certificates for common
stock of the United Rys. Co. on the basis of $500 Transit stock for $200
voting trustees' certificates.
Voting trust has expired and common stock
a
has been Issued
for trust certificate*.
Under this plan the $20,000,000 refund, and
Impt mtge. bonds of the
Co., of which $8,000,000 had been issued, were canceled,
arid in their place the same
company issued $10,000,000 of 5% Improvement
bonds, guar, by the United Rys. Co. of St. Louis, this guaranty being soSt. Louis Transit
cured by a mortgage on all of that
company's property next in rank to that
of Its general rntge.
These Improvement bonds are now the only outstand¬
ing security
of the Transit
Co.
Power.—Power is purchased from the Union Electric Light & Power Co.
and the Electric Co. of Missouri (successor to the Miss. River Power Dis¬
tributing Co.).
See V. 106, p. 1454. for future requirements, &c.
Universal Transfers.—Effective July 1 1914.
V. 99, p. 50.
Franchises.—The city contends that franchises expire as specified In the
original ordinances.
The company contends that all of these franchises
were
extended
the Central
to
Louis Transit franchise and
1939 by the St.
Traction franchise.
the Circuit Court and
The Rys.
Co. has
won
to
1948 by
its contention In
appeal is now pending In the Mo. Supreme Court.
Mill Tax Decision.—The U S. Supreme Court on April 10 1916 dismissed
the company's appeal from the decision in the Missouri courts which upheld
the ordinance by which the city collects a tax of one mill on each passenger
faro.
V. 94. p. 418; V. 95. p. 1124; V. 99, p. 1053; V
100. |>. 400. V. 102,
p. 1437.
On June 16 1916 the co. paid In full the $1,839,205 judgment
obtained by the city for taxes from 1903 to 1910, with interest.
On Jan. 11
1919 the co. formally acknowledged its responsibility for the $2,500,000
mill tax which it owes the city which will be paid off in ten annual install¬
ments with interest, and in the future the co. agrees to pay this tax without
contest.
The city in turn will not contest the franchise of any of the co.'s
branch lines in St. Louis and agreed to dismiss its appeal in the Jefferson
Ave. franchise
Id
Street Ry., the People's Gas Light Co.. the Vermont Internal Improvement
Co. and the Chittenden Power Co.
In Sept
1906 acquired the entire
rail.
OFFICERS.—Pres., F.
~
1902
1907
June
Bal., Def.
$4,427
2,777
the Seaman suit, was appointed receiver under the consolidated
suits, and
Henry Lamm was reappointed as Special Master to conduct the hearings.
V. 108, p. 1823, 2331
Compare V. 106,
ROSLYN, LONG ISLAND, N. Y.
1914, part of the proceeds being used to retire the
$350,000
Tax. Interest.
$803
$5,230
1,253
4,030
.$35,115
30,323
8rnith,
Dame,
erve).
of 1907.
Net aft.
ROAD.—Operates 13 miles of track from Village of St. Albans Bay, on
Lake Champlain, to City of St.
Albans, and to Swanton.
60 and 70-lb.
system.
NEW YORK Sc NORTH SHORE TRACTION CO.
ORGANIZATION —Incorporated in New York on
Aug. 6
Mineola RosJyn & Port Washington Traction Co.; name
360
years:
Gross.
1918
Property.—Operates 12.1 miles of street railway line In Rome, Ga., incl
extensions to Lindale and Scales Works.
Standard gauge; 90-lb. girder
and 60 & 70-lb. T rails.
Also
Fares.—On
the
as successor to
St. Albans Street Ry., sold at foreclosure on
Apr. 27 1912.
Controls entire
street-railway business in St. Albans and Swanton.
Charter permits the
carrying of baggage, express and mail: also the
right to operate street rail¬
12 Mos.—
Interest.
Common, $1,000,000 ($100)
Q-J
$650,000
Pref, $100,000 ($100), 7% cum
Q-M
100.000
See text
First mtge. $3,000,000,
gold/ 1916
5 g A-O
850.000 April 1 1946
($500 and $1,000)
c*cpt(Int. at Spencer Trask & Co., New York, or
[
Fidelity & Columbia Tr. Co., Louisv., Tr
Bonds.—Redeemable In whole or part at 105 and Int. on
any Int. date od
60 days' notice.
Sinking fund, 1% of outstanding bonds annually, began
Aug. 26
VT.
In May 1912 in Vermont
ways
Fare Increase.—In Jan. 1919 was auth.
by the Ga. RR. Comm. to increase
fares by 1 cent.
V. 108, p. 172.
title
ALBANS,
ORGANIZATION.—Incorp.
GA.
ROME RAILWAY & LIGHT CO.—A trolley road.
ORGANIZATION.—Incorporated In Georgia on Nov. 30 1906 as suc¬
cessor to the City Electric Ry. V. 83,
p. 1591.
Furnishes light and power
to city and private Individuals.
Franchises expire 1985; street
railway
franchises practically exclusive.
In 1916 canceled the old first and conaol
mortgages and made a new first mortgage as shown below
Date.
112; V. 101, p. 1093; V. 105, p. 2095.
ST. ALBANS & SWANTON TRACTION CO.—A
trolley road.
surplus, $6,369.
STOCK AND BONDS—
p.
;
and/ 1916
5J& J
175,000 Jan 1 1936
$1,000)
{int. at Union S. D. & Tr. Co., Portland. Tr.
EARNINGS.—For year end. June 30 1917 (Incl. Mechanics Falls Elec
Lt. Co.), gross, $48,798*. net, after taxes.
$15,319; fixed charges, $8,950;
ROME,
None since.
stow; V.-P. & Gen. Mgr., F. S. Nicholson; Clerk &
Treas., H. L. Hansen;
Asst. Treas. and Asst. Clerk, C. N. Wilson.
Gen. Mgrs., The W. L.
Barstow Mgt. Ass'n, Inc.—V.
Maturity
$50,000
30,000
1916,2j^%.
years
express cars.
the Mechanics Falls Elec. Lt. Co.
Outstanding.
none;
ending Dec. 31:
Cal. Year—
Gross.
Net, aft. Taxes. Fixed Charges.
Surplus.
1918
$477,924
$152,046
$110,477
$41,569
1917
429,617
141,674
110,729
30,945
ROAD.—Owns and operates 28.3 miles of track in Rutland and West
Rutland, extending to Fair Haven and Poultney on New York State line.
Standard gauge.
60-lb. T rail.
28 passenger cars and 10 freight and
Co.
Interest.
4
EARNINGS.—For
ORGANIZATION.—Chartered In Me. Nov. 14 1894 as the Norway A
Ry. (see this Section for
Sept. 1916).
Name changed to abov*
Jan. 6 1916 and refinanced as shown below.
On March 29 1916 acquired
Date.
are
out.
Paris St.
STOCK AND BONDS—
Common stock $50,000 ($100)
Pref6 % non-cum$30,000 ($ 100)
First & ref mtge ($500
See text
5 g M-S
1.960,000 Mch 1 1946
at Lincoln Trust Co.. N. Y., Trustee.
redeemable at 110 and Int., as a whole or In amounts
less than $50,000, on any Int.
day.
Sinking fund began March 1
1916, providing for annual payments Increasing from
to 2% of bonds
—V. 108, p. 2022.
(2)
Maturity.
$1,700,500
1906
c»{lnt.
of not
Surplus.
$37,354
$33,600
33.062
increase
an
Outstanding.
-
$2,000,000/
gold ($1,000)
Bonds.—Bonds
Interest.
Dividends.—1913,4%; 1914,3.35%; 1915,
Charges.
$70,954
75.055
Date.
Stock $2.000,000 ($100).
First
mortgage
end. June 30:
Gross.
perpetual.
signed
to
on
meet
case.
an
V. 108, p. 270.
Jan. 15 1919.
one
V. 108,
p.
A formal
380, 481.
agreement to this effect was
The company having failed
of the installments the entire amount
ordered paid by Circuit Judge Falkenhainer
No further information.
was
declared due
in Jan. 1920.
and
V. 110, p. 563.
Franchise
Ordinance.—After much delay and many amendments, an
passed by the Municipal Assembly on March 29 1918 and
ordinance was
signed by the Mayor on April 10 1918 (for principal features of ordinance
see this Section for Sept. 1918).
On Oct. 4 1918. however, the co. notified
the city that it (the co.] did not deem it advisable to accept the measure
because of various objectionable featuras embodied therein.
The chief
factor against its acceptance was that a fair return on the co.'s investment
was not assured.
V. 107, p. 1482.
Compare V. 106, p. 1908.
Pending further developments, various protective committees have been
formed as shown below:
~
,
r
Preferred Stockholders' Committee.—L. H. McHenry, Chairman, Louis¬
ville, Ky.; A. J. Scharf, Secretary, U. S. Trust Bldg., Louisville, Ky.—
V. 103, p. 2239.
^Committee for First Qen. Mtge. 4s.—Breckinridge Jones, David ft. Fran¬
cis Jr., Allen G. Hoyt, A. H. S. Post, F. H. Ecker and H. B. Collins, with
Hord Hardin as Secretary, N. W. corner 4th and Pine Sts., St. Louis, Mo.
_
.»
«■
'
Depositaries: Mississippi Valley Trust Co., St. Louis; Farmers* Loan &
Mercantile Tr. & Dep. Co., Baltimore; Girard Trust
V. 105, p. 181; V. 106, p. 1578.
*A second committee representing holders of the 1st Gen, M.4s has been
formed, consisting of N. A. McMillan, Pres. St. Louis Union Bank, Chair¬
man; Edward Mallinckrodt, M. Kotany, J. Herdnon Smith and Edwin G,
Merrill, all of St. Louis. Mo.
DeDositaries: St. Louis Union Trust Co.,
St. Louis, and the Union Trust Co., N. Y.; sub-depositary, Brown, Shipley
& Co., London.
V. 105, p. 291. 717; V. 106, p. 1578; V. 107, p. 697.
Committee for St. Louis Transit Impt. 5s.—Edwin M. Bulkley, N. Y.,
Chairman; Edwards Whitaker, St. Louis, Vice Chairman; F. J. LLsman,
N. Y.; Charles S. Ludlam, N. Y.; George L. Edwards, St. Louis; W. Lome
Scovil, 25 Broad St., N. Y., Sec'y.
Depositaries: Mercantile Trust Co.,
St. Louis and Bankers Trust Co., N. Y.
V. 105, p. 181; V. 106, p. 1578.
Trust Co. of N. Y.;
Co., Phiia.
Deposits have been called for V. 108, p. 1611, 2434.
A second committee representing holders of the St. Louis Transit Impt.
58 has been formed, consisting of Chairman, Wm. P. Gcst; Le Roy W.
Baldwin, Oscar Fenley, Harrison Nesbit, J. C. Van Riper; Secy., T. Homer
Atherton, corner Broad and Chestnut Sts., Phila.
Depositaries: Empire
Trust Co., N. Y.; sub-depositaries, Fidelity Trust Co., Phila.; American
Trust Co., St. Louis, and Fidelity & Columbia Trust Co., Louisville, Ky.
Deposits have been called for. V. 108, p. 1722.
Committee for St. L.
Sub. Ry. Gen. Mtge. 5s.—Herman C. Stifel, Chair¬
man, Pres. Stlfel-Nicolaus Investment Co.; A. C. P. Meyer, Sidney
H.
March, N. Y.; William G. Lackey, John L. Johnston; Secy., Oscar H.
Wibbing, 207 N. Bway., St. Louis.
Depositaries: Mississippi Valley Trust
Co. of St. Louis and New York Trust Co., N. Y.
Deposits have been called
for.
V. 108, p. 1611.
Compare V. 105, p. 291.
*
These two committees in April 1919 announced that in the future they
would work together.
V. 108, p. 1611.
Valuation.—For appraisal as of Dec.
31 1917 made for city of St. Louis
by J. E. Allison showing a total reproduction cost of $72,589,141.
See
V. 106, p. 1578.
In May 1916 the Mo. P. S. Comm. auth. the St. Louis & Suburban Ry.
to Issue $1,000,000 Gen. M. 5s of 1903 to take up and pledge under that
mortgage the $i ,000,000 bonds issued by the St. Louis & Meramac Ry. Co.
for refunding its $1,000,000 1st M. 6s, which fell due May 8 1916.
The
$1,000,000 St. L. & Sub. bonds are held In the United Co's. treasury for
.
V. 102, p. 2255.
The $200,000 Southern Electric 5s maturing
Aug. 1 1916, were paid off and a like amount of United Rys. 4s were Issued
and placed In treasury.
Decisions.—On Feb. 26 1917 the Missouri Supreme Court held that the
P. S. Comm. had no auth. to compel the company to extend its tracks on
streets on which it held no franchises.
Also held void two sections of the
city charter conferring upon the city the power to regulate its public utilities.
Fare Increase.—In May 1918 was auth. by the Mo. P. S. Comm. to
Increase adult fares to 6 cents effective June 1 1918.
At the end of 1 year
the co. must show cause for making the new rate permanent.
(The co. was
auth. to extend the 6-cent fare rate, and, effective Sept. 20 1919, was
authorized to increase fares to 8 cents for a period of six months) .
In
connection with this the Mo. P. S. Comm. In Feb. 1919 ordered a valuation
of the co.'s property to be completed by June 1 1919.
V. 108, p. 581.
In
granting this increase the Comm. held that municipal franchises do not con¬
stitute irrevocable contracts, leaving States without power to regulate rates.
future use.
spite of a constitutional-consent clause in Mo. the Comm. held that it was
their duty under the law to examine the facts and fix just and reasonable
rates notwithstanding franchise terms; and as the existing rates were not
sufficient to permit adequate service, public interest and welfare demanded
an increase of rates.
V. 106, p. 2346.
A motion by the City Council for a
rehearing in the case was overruled by the Comm. on May 27 1918.
See
V. 196, p. 2451.
In June 1918 the City Council filed an appeal from the
decision.
V. 106, p. 2759.
On Aug. 31 1918 Judge J. G. Slate in the Cole
County Circuit Court held that the Comm. was without jurisdiction te
pass upon the fare question and that the 6-cent fare was therefore null and
void.
Chief Justice Bond of the Missouri Supreme Court authorized the
company to issue a negotiable receipt for 1 cent pending the final decision
by the Missouri Supreme Court, which was handed down on Dec. 16 1918,
and which sustained the power of the P. 8. Comm. to alter street railway
fares prescribed by franchise, thus validating the 6-cent fare. V. 107, p.
2377, 2478.
The city's motion for a rehearing was overruled by'the Mis¬
souri Supreme Court.
V. 108, p. 81.
The company was auth. to extend
the 6-cent fare rate, and, effective Sept. 20 1919, was auth. to charge aa
8-cent fare for six months.
For further details of new schedule, see V. 109,
p
1181, 1274
Effective April 10 1920 faros were reduced from 8 cents
to 7 cents.
V. 110, p. 1643.
Strike—Settlement—Wage Increase.—See V. 106, p. 2346; V. 107, p. 1194!
V. 109, p. 889.
t<< Reorganization Outlook.—See V. 109, p. 578. ,
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock com $25,000,000 ($100)
—
$24,913,800
Stock
preferred
5%
curnul
$20,000,000 ($100)..
J
5 Q-J
16,383.000
See text
Gen
1st
mtge
$42,000,000f 1899
4 g J-J
32,232.000 July 11934
($1,000) gold
c*tf-(Int. at St. Louis Union Trust Co., Trustee,
Cannot be called.
(
or at Bankers Trust Co., New York.
Improvement
bonds
goldf 1904
5 g A-O
9.790,000 Oct
11924
($1,000) St Louis Translt/Int. at Mercantile Tr. Co.. St. Louis. Trustee
Co—
c*tf l
or at Bankers Trust Co., New York.
Receiver's
certificates
($1,-11919
6 M-S
2,300,000 Sept 2 1920
000)
c/Int. at First National Bank, St. Louis.
Stocks and bonds.—Of the $20,000,000 authorized preferred stock. $3,603,500 is held in the treasury. 1 $800 common stock is also held in the
treasury.
Preferred was listed on the New York Stock Exchange on
June
1
1905.
Of
the
$45,000,000
general
first
mortgage
bonds
In
/
authorized, $3,000,000, which had been previously reserved
of retiring bonds of the St. Louis & Suburban Sys¬
purchase, have been canceled, making the total authorized
Issue now $42,000,000, of which $9,768,000 are reserved for the retirement
of underlying liens.
Of the amount reported outstanding, the company
owns $1,932,000.
The bonds are secured by all the stocks of the constitu¬
ent companies, and by direct mtge. lien upon their property and franchises.
In 1903 the gen. mtge. bonds were listed on the N. Y. and Philadelphia
stock exchanges (see V. 76. p. 980; V. 89. p. 995), and in April 1906 the
St. Louis Transit Co. Impt. bonds were listed on the N. Y, Stock Exchange.
The impt. bonds are guar., p. & I., by the United Rys. Co.; $210,000 are
originally
the
for
purpose
tem, in case of
In treasury.
subject to call.
V. 109. p. 982.
CONSTITUENT
COMPANIES.
Receiver's Certificates.—Are not
BOND
ISSUES
OF
.
Date.
Interest.
Outstanding.
Maturity.
$1,500,000/ 1891
4H ? F-A $1,500,000 Aug 1 1921
gold ($1,000)
c*&rntfl Interest payable In New York and St. Louis.
Oomp'n H U D & M T 1st Mf 1893
5 gJ-J
1,000.000 July 11923
($1,000) g (extend'd)c*ntf\lnt. at St. Louis Un. Tr. Co., Trustee.
National System—
St Louis RR first mtge curf 1890
4^ M-N
1.948.000 May 1 1920
$2,000,000 ($1,000)
ntfjlnt. at Miss. Valley Trust Co., St. Louis.
Cass Ave & Fair Grounds 1st f 1892
4^ g J-J
1,800.000 July 11922
extended M $2,000,000 g{lnt. at Northern Trust Co., Chicago, trustee,
($1,000) sinking fund guar)
and St. Louis Union Trust Co., St. Louis.
prln.& int (Nat Ry)__c*ntf I
Lindell System—
Llndell Ry 1st M
St. Louis <&
Sub.
System—
Mf 1891
5 g F-A
$2,000,000 Feb
11921
$2,000,OOOg ($1,000) c*ntf(Interest at Amer. Trust Co., Boston, Trus-
St.Louis & Suburban
„
[Vol. 110.
ELECTRIC RAILWAYS
122
cons
„
[
tee; redeem, at 105 any
Sub gen mtge $7,500.-/ 1903
5 g A-O
000 gold ($1,000) guar_c*tf lint, at Miss. Val.
Of the St. Louis & Sub.
interest date.
4,500.000 April 1 1923
Tr. Co.. St. Louis. Trustee
Ry. gen. mtge. for $7,500,000. $2,000,000 are reto retire prior ^ens an(* SI.000.000 are In treasury.
V. 76, p. 332.
Ihe St. Louis & Meramac River In April 1903 made a mortgage securing
$3,000,000 bonds,
all of which have been
deposited with the trustees
security under the St. Louis & Suburban general mort¬
of 1903.
St. Louis RR. bonds originally were 5% bonds, maturing
May 1 1910, but they were extended for 10 years to May 1 1920 at 4H%«
V. 90, p. 448.
The St. Louis & Sub. RR. coas. mtge. bonds are secured by
a
deposit of $1,000,000 St. Louis Cable & Western Ry. bonds.
The
Llndell Ry. 1st mtge. were originally 5% bonds maturing Aug. 1 1911;
but were extended 10 years to Aug. 1 1921 at 4%%.
V. 93, p. 106.
Cass Ave. & Fair Grounds 1st M. were originally 5s maturing July 1
1912, but they were extended for 10 years at 4K%\
$200,000 have
been redeemed.
V. 94. p. 913, 1509. 1764.
Comp'n Heights Un. Dep. &
additional
as
gage
1st M. were
Mer. Term.
1913, but were extended
originally 6s, due July 1
V. 96. p. 1774Red. at 102^ and int. on 60 days notice;
& 1. guar, by United Rys.
St. Louis Union Co., trustee.
Dividends.—First div., of 1 Yt% on pref., April 10 1900 and the same
amount quar. to July 10 1910. inch; none since, v.'91. p. 718; V. 93, p. 591.
ROAD.—On Dec. 311918 owned total of 460.90 miles of track (Including
the St. Louis & Suburban), of which 345.31 m. are In the city and 115.59
10 years at 5%.
p.
.*-i - •»•••.I -j'-ftWi
cars, 10 mall anTf
2 electric locomotives and
fcg »***
miles are county track.
spe~£I
"TOnni¥?ff^HJas "l ,398
passenger cars, 9
8 snowplows and 33 snow-sweepers,
163 service cars of various kinds.
Total, 1,589,.
express cars,
REPORT.—For report for 1918, see
1918.
V. 108, p. 872.
1917.
1916.
1915.
253,046,586 232,771,398
136,065,566 124,043,205
Gross earnings
$13,639,618 $13,125,559 $12,641,294 $11,681,200
Deduct—Oper. expenses. $9,126,513
$7,625,827 $6,953,125 $6,837,982
1,337,309
carrled__245,876,910 262,564,865
passengers
131,108,817 140,735,831
Revenue pass.
Transfer
1.636,754
Depreciation
853,x61
821.684
739,539
$3,071,504
$3,349,530
$2,766,370
94,702
82.589
98,484
$2,140,573
Total net Income
Interest
1,516.955
1,575,067
852.476
$2,023,875
116,698
$3,166,206
$3,432,119
$2,864,854
2.523,230
2.544.614
2.599.327
$887,505
$265,527
Taxes
Net earnings.
Other income
on
2,540,872
bonds, &c
df.$400,299
Surplus
OFFICERS.—General Manager,
,
$642,976
Albert
Perkines; Vice-President*
T.
x.
W;
Murray* Carleton; Sec. & Treas., James Adkins; Assistant
Sec., J.
Samuel; Asst. Treas., Frank A. Gannon; Aud., H. P. Taylor.
Directors*
J. I. Beggs, Murray Carleton, II. S. Priest, R. L. Warner, A.
C. Brown,
A. L. Shapleigh, F. O. Watts, A. J. Siegel, H. C. Cole and J. K. Newman.
—V. 108, p. 581, 872,4276, 1391, 1513, 1611, 1823. 2331, 2434; V. 109, p
271, 478, 578, 889, 982, 1181, 1274, 1368, 2441; V. 110, p. 563, 1643.
(1) Missouri Electric RR.
Controlled by United Rvs. Co. of St. Louis.
Receivership.—See United Railways Co. above.
ORGANIZATION.—Incorporated In July 1908 In Missouri and took
property of St. Louis St. Charles & Western RR., sold at foreclosure
1905, on behalf of a syndicate.
Stock, $1,000,000, all out¬
standing. A $1,000.000 mtge. has been made to Mercantile Trust Co. of St.
Louis, as trustee, of which $700,000 are outstanding.
Company operates
about 20 miles of track between St. Louis and St. Charles.
Gauge 4 ft.
10 In.
60 and 70-lb T and girder rail.
Pres., Richard McCulloch.—V.
87, p. 226, 480, 1366.
over
sale July 24
ST. LOUIS & ST. CHARLES BRIDGE CO.
ORGANIZATION.—Incorporated on Dec. 22 1908 as successor to the
County Bridge Co., whose property was bid in at
foreclosure sale on Feb. 29 1908, for the bondholders, at $300,000.
V. 86,
p. 669.
The Missouri Electric pays the Bridge Co. 5 cts. for each passenger
crossing the bridge.
St. Charles & St. Louis
STOCK AND BONDS—
Date.
Stock $300,000 ($100)
Interest.
...
$300,000 ($500)/ 1909
5 g J-J
gold.
c*. I American Trust
Bonds.—Subject to call at 105.
1st mortgage
PROPERTY .—Bridge across
Missouri
Maturity
$300,000
300.000 Jan 11929
Co., trustee.
River
Outstanding.
2,700 ft. long, between
City of St. Charles and St. Louis County, was opened
OFFICERS.—Pres., C. D.
Bolin; Sec. & Treas.,
—V. 86. p.
April 22 1904.
Delahunt.
W. V.
669; V. 87, p. 227; V. 88. p. 56.
salt lake
city, utah.
UTAH POWER & LIGHT CO.
Controlled through ownership of all the
stocks, except
see
outstanding common and 2d pref.
directors' shares, by the Utah Securities Corporation, which
Industrial" Section.
In our "Railway and
ORGANIZATION.—Incorp. in Maine Sept. 6 J 912. Charter unlimited.
and capital stock, except directors' shares, of Western
all the stock, except directors' shares, of Utah Lt. &
Trac.Co,. Leases for 99 years from Jan. 11915 the elec. light and power and
gas properties of the latter.|
With its controlled companies operates in an
extensive territory in Utah, Southeastern Idaho and Southwestern Colo¬
rado, serving more than 100 communities, including Salt Lake City, Ogden,
Provo, Logan, Park City, American Fork, Eureka, Bingham and Lehl,
Utah; Idaho Falls, Rexburg, Preston and Montpelier, Idaho, and Durango,
Tellurlde, Montrose, Ouray and Delta, Colorado; total population served
estimated at more than 310,000.
Supplies power to the Bamberger Elec¬
tric RR. Co., Salt Lake & Utah RR,, the Utah-Idaho Central RR., and
Salt Lake, Garfield & Western KB. Co., and numerous industrial en¬
terprises.
Franchises are satisfactory.
In Salt Lake City franchise extends to
1955; in Ogden to 1965; Provo, 1940; Logan, 1936; Bingham. 1953; Lelu.
1962, a,nd in Preston, 1956.
Other less important franchises expire at
Owns all the bonds
Colo, Power Co. and
various
dates*
applied to the Utah P. U. Comm.
affecting commercial and industrial consumers.
Rates.—In Jan. 1920 the co.
to increase rates
p.
79.
for auth.
V. 110,
'
In Oct. 1916 the auth. amount of common stock was increased from $30,000.000 to $35,000,000, and of 1st pref. stock from $5,000,000 to $15,000,000.
V. 103, p. 1597.
On Dec. 18 1918 all of the $2,050,000 2-year 6% secured notes due Aug. 1
1919 were called for redemption at 100and int. and the $2,847,000 1st
mtge. 5s pledged thereunder wrere subsequently sold.
V. 107, p, 2104, 2189.
Outstanding.
Maturity.
STOCK AND BONDS—
Date.
Interest.
$30,000,000
Common stock ($35.000.000)8.450.000
Jan'20,15*
Pref stock 7% cum ($15.000.000)—
7 Q-J
4,937,000
2d pref stock ($10.000,000)—
23.566.000 Feb
1 1944
Jst
M
($100,000,000)
goldf 1914
5J F-A
($1,000)
__c*&r1 Guaranty Trust Co., N. Y., trustee.
Stock.—7% cumulative preferred stock Is redeemable at 115 and accrued
dividends.
The second preferred stock as a whole or in part may cease
to be subordinate to the preferred stock upon vote of the directors, when¬
ever
net earnings
for twelve consecutive months within the fourteen
months immediately preceding any application
are 2H times the div. re¬
quirements on the nref. stock then outstanding, and tne additional pref.
stock to be issued in exchange for the 2d pref. stock.
$2,900,000 of the 2d
pref. stock had been exchanged for first pref. stock as
Bonds.—$41,000 bonds held in treasury (not incl. in
of Jan. 6 1919.
amount out.)
Re¬
maining bonds may be issued at par only for 80% of cost of permanent
impts., extensions or additions when ann. net earnings are twice the int
on bonds outstanding and those proposed to be issued.
Redeemable at
105 and int. on any int. date on 4 weeks' notice.
Sinking fund began
Dec. 31 1916 as follows:
1916 to 1918, 1% of bonds out; 1919 to 1933. 2%;
1934 to 1943, 2H%.
Listed on N. Y. Stock Exchange.
V. 109, p. 688.
Dividends.—7% is being paid on 1st pref. stock.
EARNINGS.—For years ending Dec. 31
Dec. 31
Year—
1919
1
Gross
Earnings.
Net {after
Taxes).
Other
Inc.
$5,655,960 $2,786,415 $112,612
(lncl. Western Colo. Power Co.);
Bond Int. Other Int.
Balance,
& Disct.
{Net).
Surplus.
$1,178,300 $490,520 $1,230,207
5.574,805
2,952,270 136,447
1,034,381
675,644
1,378,698
PROPERTY, &c.—Generating capacity, hydro-electric, 123,237 k.w.;
1918
steam, 26,050 k.w.; additional installations of 26,500 k.w. capacity
construction.
Physical property includes 2,075 miles of high-voltage
under
trans¬
pole lines and 1,408 miles of electric distributing lines,
gas-holder capacity, 240,000 cu. ft.; gas mains, 39 miles.
Customers,
651,849 k.w.h. feeder output, 12 mos. end. Dec. 31 1918, 533,044,000; arti¬
ficial gas output, 68,357,000 cu. ft.
OFFICERS.—Chairman of the Board, S. Z. Mitchell; Pres., L. Hanmission tower and
chett; V.-P., C. E. Groesbeck; V.-P. & Gen. Mgr., S. R. Inch;
Treas., Geo. B. Thomas.—V. 105, p. 2110; V. 106, p. 819, 2764;
p. 612, 1751, 2104, 2189; V. 109, p. 688; V. 110, p. 79, 1416.
Sec. &
V. 107,
|
APE., 1920.]
(1)
Utah
Light
&
ELECTRIC
Traction
Co.
ORGANIZATION.—Incorporated under the laws of Utah,
Sept.
1914.
18
The company is a consolidation of the Utah Light & Railway Co.,
and the Salt Lake Light & Trac. Co. (see those companies on
page 116 of
the Sept. 1914 "Electric Ry. Section").
The Utah Power &
Light Co.
except directors' shares, and has leased
for 99 years from Jan. 1 1915 the electric light and power and
gas properties,
leaving only the traction property to be directly operated.
V. 100, f».
734.
Franchise In Salt Lake City expires In 1955.
owns all the stock of this company
$12,136,000 1st & Ref. M. bonds outstanding are owned by the Oregon
Short Line RR., and $335,300 held by Utah Power & Light Co.
Valuation.—In Feb. 1920 the Utah P. U. Comm. placed a value of $8,468,278 on the co.'s property.
V. 110, p. 765.
STOCK AND BONDS—
Date.
Capital
stock $10,000,000
First & ref M (auth amt un-f
Interest.
Outstanding.
SI. 150,875
--
1914
5
A-0
g
Maturity.
—
12,471.300 Oct 1 1944
Bankers Trust Co., New
limited) ($1,000, $500 and(Int. at 71 Bway.
$100)red at 105&int gs f_c* 1
York, Trustee.
Ry
con
M $10,-f 1904
486,000 Jan 2 1934
5 gJ-J
000,000 gold ($1,000).—c*{Int. at 71 Bway., N. Y.
Equitable Trust
I
Oo.
Y* Trustee.
Utah L &
'
Utah
/ 1900'
5gJ-J
*744.000 Jan 1
($1,000).—c*tf(Int. at 71 Bway.
Central Union Trust
I
N.Y., Trustee.
Utah Lt &
Power
con
M| 1900
4 g J-J
1,113.000 Jan 1
$4,500,000 g ($500)— c*tf Int. at 71 Bway.
Equitable Trust
Lt
& P
$750,000
Prior Lien
g
1930
Co.,
1930
Co..
I
1ST. Y
Trustee,
Cons Ry & P 1st M
1901
g J-J
1,440,000 July 1 1921
000 gold ($1.000)—c*&rtf(Int. at Equitable Tr. Co., N. Y.. Trustee.
Bonds.—Sufficient 1st & ref. bonds of 1914 are reserved to provide for
$3,000,-/
*5
'
underlying liens (all closed issues).
$335,300 incl. in amt. outstanding
owned by Utah Power & Lt. Co.
Present issue known as Series "A" bonds.
Sinking fund of 1% of outstanding bonds from 1917 to 1919; 2% 1920 to
1934; 2K % 1935 to 1943.
Sinking fund may be used to redeem bonds at
not more than 105 or to reimburse the co. for cash cost of additional
prop¬
erties,
&c.
EARNINGS. Oross
Other
Net, after
Int. Chges..
Balance
Deprec.,&c. Surplus.
$865,412 def.$41,868
1,597,315
838,844
1,422
ROAD.—The consul, company owns and operates 145 miles of track.
Including double track, sidings, &c., connecting Salt Lake City, Sandy.
Midvale, Murray, Holliday and Bountiful.
Has 237 passenger and ser¬
Cal.
Year—
1918
1917
Tares.
Earnings.
$459,107
464,008
$1,602,000
Income.
$364,437
376,258
vice cars, including 131 double-truck P-A-Y-E
cars.
OFFICERS.—Chairman of the Board, D. C. Jackling; Pres., C. W.
Whitley; V.-Ps., O. J. Salisbury, D. F. McGee and C. E. Groesbeck; V.-P.
Mgr., S. R. Inch; Sec. & Treas., W. E. Blodgett.—V. 104, p. 2012,
2642; V. 105, p. 820; V. 106, p. 398; V, 107, p. 698, 1102; V. 110, p. 765.
RAILWAYS
123
STOCK AND BONDS—
Date.
Com. stock $3,000,000 ($100)- —
Pref 7% cum $2,000,000
Interest.
Maturity.
Outstanding.
$3,000,000
1,980,000
($100)
1st
mtge
$10,000,000 gold/ 1914
6 g A-O
1,250,000 April 1 1944
($1,000, $500 & $100).c*tf{lnt. at First Nat., Bank N. Y., or Cont. &
Redeemable at 102 & Int— I
Com. Tr. & Sav. Bank, Chicago, Trustee.
Salt
Lake
Term
$1,000,000
$500
&
Co
gold
$100
1st Mf 1915
6 g J-D
350,000 June 1 1935
($l,000jlnt. at Bankers' Trust Co., N. Y., or Inter;__c*tf(
national Tr. Co., Denver, Trustee.
1st
mtge. notes $1,000,0001 1918
7 F-A
562,500 Aug. 1 1921
($100, $500 & $1,000)-c.tf/Northern Trust Co., Chicago, Trustee.
Bonds.—Remaining bonds
may
be
issued only
under
certain
re¬
strictions.
The $1,250,000 bonds outstanding bear 6% interest; remainder
will bear such rates not exceeding 6% as may be fixed at time of issue. Sink¬
ing fund of 1% of bonds out 1919 to 1923, 13^% 1924 to 1933 and 2% 1934
to 1943.
All bonds may be called at 102 & int. and replaced by a like
amount bearing a lower rate.
V. 100, p. 230.
The Salt Lake Term, bonds
are unconditionally guar.,
p. & 1., jointly and severally, by the Salt Lake &
Utah RR. and Salt Lake & Ogden Ry. (now Bamberger Electric RR.).
Callable on any Int. date on 35 days' notice at 102 and int.
Sinking fund
1% of bonds issued from 1920 to 1924; 1H % in 1925-29. and 2% in 1930-34.
Additional bonds may be issued for 80% of cost of new property or for exts.
and impts.
For description of bonds and property, see V. 101, p. 1371.
Notes.—Are secured by a deposit of $750,000 1st M. 6% bonds or in the
ratio of 133 1-3%.
Additional notes may be issued when secured by 1st
mtge. bonds in a like ratio, but only under certain restrictions.
Red. at
at 101 and int. to Aug. 1 1920, and thereafter to maturity at 100 and int.
Interest is payable in Salt Lake City, Chicago or New York.
Calendar Year—
1918.
1917
1916.
1915.
Gross
and taxes
$546,020
374,403
$487,925
316,772
$411,638
260,577
$279,952
178,246
Net available for int. & divs.
$171,616
$171,152
$151,060
$101,706
revenue
Operating
expenses
ROAD.—Operates from Salt Lake City south to Payson, about 67 miles,
branch line from Granger to Magna (about 9 miles); also about 1 mile
of single track of the Salt Lake Terminal Co. tracks in Salt Lake City and
about 2 miles of single track street railway in Provo.
75 and 85-lb. rail;
and
a
standard gauge.
15 interurban pass, cars, 4 street railway cars, 1 combi¬
nation gas motor car, 3 electric locomotives, 3 express and 37 freight cars
and 31 service cars.
Power is purchased under long-time contract from
Utah Power & Light Co.
OFFICERS.—Pres., W. C. Orem; V.-P., J. G. Berryhill; V.-P., Henry
I. Moore; Sec. & Treas., F. M. Orem; Aud., Joe R. Brown.—V. 102, p.
438, 801, 2167; V. 107, p. 1102. 2188. 2478.
& Gen.
SANjANTONIO, TEX.
SAN
ANTONIO
PUBLIC SERVICE CO.
Entire stock owned by the American Light & Traction Co.
KBAMBERQER ELECTRIC RAILROAD.
►
ORGANIZATION.—Incorporated in Utah as the Salt Lake & Ogden
Ry.
Name changed to present title in Sept. 1917.
On May 28 1910
began operating cars by electricity; prior to that date road was operated
by steam.
Shortest of franchises expires in 1955.
Practically entire mile¬
age is on private right of way.
ORGANIZATION.—incorp. in Texas Sept. 6 1917 to take over and
operate the properties of the San Antonio Gas & Electric Co. and the San
Antonio Traction Co., both formerly controlled by the Southern Light &
Traction Co., whose affairs were wound up.
The new company is auth. to
Salt Lake Terminal Co.—Owns 50% of the stock of the Salt Lake Terminal
Co. and with the Salt Lake & Utah RR., which owns the other
50% of
It it reported will build a
miles.
stock, operates the property under a 50-year lease.
Jointly and severally guar, its 1st M. bonds p. & 1.
& Utah RR. and in V. 101, p. 1371.
company
STOCK AND BONDS—
Date.
Interest.
These two companies
See under Salt Lake
Outstanding.
Maturity.
$1,000,000
500,000
1909
5 g F-A
1,500,000 Feb 1 1934
($1,000)
c*\lnt. at Harris Tr. & Sav. Bk., Chic., Trustee.
Bonds.—First mtge. bonds are subj. to call at 105 and int. on and after
Feb. 1 1914.
Remaining bonds can be issued under certain restrictions
for extensions and additions.
EARNINGS.—For year ending Dec. 31 1918, gross, $499,625; net,
after taxes, $166,062.
In 1917, gross, $509,796; net, after taxes,
$220,871.
In 1916, gross, $454,171; net, after taxes, $191,445.
high-speed Interurban railway, 35H miles, between
Salt Lake City and Ogden; total trackage, 69 miles.
18 motor cars, 2
electric locomotives and 1 work car.
New terminal in Ogden for use of this
company and the Ogden Logan & Idaho RR. was completed Jan. 1 1915.
Power is purchased from the Utah Power & Light Oo.
OFFICERS.—Pres., Julian M. Bamberger; V.-P., J. B. Bean; Sec.,
E. A. Vail; Treas., Simon Bamberger; Aud., W. E. Jones.—V. 102, p. 2167.
a
,
CENTRAL
ORGANIZATION.—Incorp. in Utah Oct. 17 1914 as the Ogden Logan
as a consolidation of the Ogden Rapid Transit Co. and the
Logan Rapid Transit Co., with $5,000,000 auth. stock.
Of the new stock
2J4 shares were exchanged for one share of the Ogden Rapid Transit Co.
($500,000 auth.) and 1shares for each 10 shares of the Logan Rapid
8 1919 this co.
V. 108, p. 975.
A
terminal In
Ogden Ry.
was
Name changed to present title on Jan. 1 1918.
and the Cache Valley RR. were consolidated..
STOCK AND BONDS—
Dale.
On April
Compare
The company applied to the U. S. District Court at San Antonio for
authority to charge a 7-cent fare and on Feb. 18 1919 Judge Duval West
in the U.S. District Court in San Antonio, handed down a decision holding
that the franchise ordinance under which the company operates does not
constitute
a binding contract in so far as the 5-cent fare provision is con¬
V. 108, p. 880.
Federal Judge Duval West has granted an in¬
junction restraining the city from interfering with the co. putting into
effect increased fares.
Under the terms of the injunction the co. is em¬
cerned.
powered to abolish transfers or raise fares not to exceed 7 cents, or to do
both.
After numerous trials the co. finally adopted a straight 7-cent fare
V. 110, p. 659.
In Dec. 1919 the city officials
preparing to appeal from the above decision.
V. 109, p. 2357.
with universal transfers.
were
STOCK AND BONDS—
Stock, $4,700,000 ($100)
Interest.
Date.
___
Outstanding.
$4,700,000
Maturity.
($20,/ 1917
5 g M-S
2,825,000 Sept 1 1967
Bankers Trust Co., N. Y., Trustee.
000.000 gold ($1,000)
8an Antonio Trac $984,000] 1908
5 M-S
984,000 Sept 1 1949
1st & consol. mortgage
— .
1st mortgage gold.New York Trust Co., trustee.
San Antonio Gas «& Electric] 1908
;
5 M-S
984.00Q
Sept 1 1949
at New Yoik Trust Co.. trustee.
bonds $1,968,000 are reserved to retire under¬
They are callable on any interest date at 105.
Of the 1st & consol. mtge.
lying bonds.
bonds and the San Antonio Gas &
Bonds.—Both the San Antonio Trac.
Elec. bonds
were
Issued to retire
V. 88. P* 687, Gas &
underlying bonds.
redeem, at 105 & int. on 6 weeks' notice. (SeeV• 101, p. 851.)
ROAD.—Owns and operates 88 m. of single track in city of San Antonio;
Elec. bonds
are
OFFICERS.—Pres., Emerson McMillin;
V.-P.,
Philip
.& Treas., R. C. Jones.—V. 106, p. 191; V. 109, p. 2357; V.
___
See text
EARNINGS.—For year ending
Dec. 31
1919,
gross,
$1,121,616; net,
after taxes, $336,818; int. & other deductions, $325,196; bal. surp.,.$ll ,622.
In 1918, gross, $1,038,866; net, $384,507; int. & other deductions, $458,-
451;
bal., def. $73,944.
ROAD.—Oper. 94 70 miles of railway connecting Huntsville, Ogden,
City, Wellsville and Logan, Utah, and Preston, Idaho.
The
extension from Wellsville, Utah, via Logan to Preston, Idaho, was placed
in operation In March 1915, and the link between Wellsville and Brigham
City was completed and operation over the whole system begun Oct. 14
Brigham
1915.
Contracts have been awarded, it Is stated, for extensions from
Ogden to Harrisvllle, Utah, and from Hot Springs to Brigham City, Utah.
22 miles.
Power is purchased from the Utah Power & Lt. Co.
OFFICERS.—Pres., M. S. Browning; 1st V.-P., L. R. Eccles; 2d V.-P.
Joseph Scowcroft: Treas., R. B. Porter; Sec.. Royal Eccles; Gen. Mer.,
W. A. Whitney; Aud., P. H. Mulcahy.—V. 106, p. 191; V. 108, p. 975.
&
* TAH
RAILROAD.
ORGANIZATION.—Incorp. in Maine in 1912.
Road was formally
opened between Salt Lake City and Provo Aug. 1 1914, although trains
were placed in operation July
24 1914.
Line was extended from Provo
to Springville in the fall of 1915 and on to Spanish Fork and Payson in
Jan. and May 1916.
Branch from Granger to Magna, a distance of about
9 miles, was completed Oct. 10 1917.
Franchises extend to 1960 in Utah
County and in Provo, to 1962 in Salt Lake City and County, to 2010 in
Lebi City, American Fork and Pleasant Grove, and to 2012 In Springville,
Spanish Fork and Payson; remainder on private right-of-way.
Owns 50% of the $150,000 stock (auth. $ 1,000,000) of the Salt Lake
Terminal Co. (V. 101. p. 1371), the other 50% being owned by the Bam¬
berger Electric RR.
The Terminal Co. is operated by these two companies
under a 50-year lease runn ng to Dec. 31 1963.
In Dec. 1918 issued $562,500 1st mtge. notes to fund indebtedness in¬
curred for permanent extensions and impts.
V. 107, p. 2188, 2478.
Fares.—In Sept. 1918 the co. applied to the Utah P. U. Comm. for auth.
to charge the same rates as steam railroads. V. 107, p. 1102.
No further
information.
SAN
Interest.
Outstanding.
Maturity.
$3,000,000
3,000,000
Ogden Rap Tr 1st M (gold) J 1909
5 g J-J
965.000 Jan 1
1929
(V 88. p 1062; V 99,p675)-lint, at Ogden Sav. Bank, Trustee.
First mtge $10,000,000
gold} 1915
6 g J-J2
3,000.000 Jan 2 1935
($500 and $1,000)
c*tf lint. at Ogden Savings Bank. Trustee.
1st conv. impt. notes $2,000,-\ 1916
6 J-J
1,733,000
Jan.
2 1921
000—
/
Slock.—The 1st pref. stock is cum. at 6% and is entitled after 6% has
been paid on the common, and before any additional payment can be made
on the com., to an extra 2%.
-i
Bonds.—Remaining 1st M. bonds may be issued at such rate (not exceed¬
ing 6%) as the directors may determine, as follows: $750,000 for corporate
purposes of the company and remaining $6,250,000 for 75% of the cost
of exts., add'ns, &c., under certain restrictions.
Subject to call at 102 and
int. after Jan. 2 1916 on 60 days' notice.
Sinking fund of 1 ^ % yearly from
1920 to 1924, 2% from 1925 to 1929 and 2H% from 1930 to 1934,
1st pref. cum.
LlAKE
permission to charge either a 6-cent fare (with the existing transfer
V. 107, p. 1482.
Compare V. 107, p.
5-cent fare with no transfers.
Lehman; Sec.
110, p. 659.
Ogden for the use of this company and the Salt Lake &
completed Jan. 1 1915.
i
Common stock
SALT
line between San Antonio and Austin, about 85
$984,0001stMg($500)c*tfUnterest
RR~
& Idaho RR.
Transit stock.
system of interurban electric railways out of San Antonio, and
1102.
Common $1,000,000
UTAH-IDAHO
a
Fares.—On Oct. 3 1918 the San Antonio City Commissioners denied the
or a
•Pref $500,000 (6% non-cum).
First mtge $2,000,000 gold?
ROAD.—Operates
construct
DIEGO,
CAL.
SAN DIEGO ELECTRIC RY.—A trolley road.
ORGANIZATION. &c.—Began operation In 1892, and In March 1898
purchased Citizens' Traction Co. at foreclosure sale.
In 1905 sold ite elec¬
tric power business to a new company—the United Light, Fuel <fc Power Co.
V. 81, p. 559. In 1908 purchased the electric line of the Coronado RR.
In
1909 acquired the South Park & East Side Ry.
Stock was increased Nov.
1907 from $500,000 to $5,000,000.
Fares.—In Dec. 1919 was auth. by the Cal. RR. Comm. to put into effect
a zone
For details see V. 109, p. 2172.
;.*■
1919 the application of the co. for auth. to abandon
system.
In Dec.
the Point
Loma Ry., a line to the suburbs, and a number of other city lines, owing to
the failure of the authorities to afford the co. some relief from existing condi¬
V. 109, p. 2172.
tions, was denied.
STOCK AND BONDS—
Stock $5.000,000..
Gen 1st lien M $10,000,000
s f ($1,000)
c*&r
Red. at 102 aft. Jan 1 1920
gold
Date.
Compare V. 109, p. 1462.
Interest.
Outstanding.
Maturity.
$1,250,000
1915
Int.
at
5 g J-J
3,764.000 Jan
1 1955
Union Trust Co., San Francisco.
trustee,
or
Nat. Bank of Commerce. N. Y.
Bonds.—First $5,000,000 bonds bear interest at 5%; rate of interest on
remaining $5,000,000 to be determined at time of issuance, but not to ex¬
ceed 6 %.
Sinking fund provides for retirement of entire issue at maturity.
V. 99. p. 122. 1131.
EARNINGS—For years end. Dec 31:
'
.
Year—
Gross.
Net, after Taxes.
Oth.Inc.
,
.
Deductions.
Deficit.
def.$147,299
$9,947"
$202,702
$340,053
def.45,170
8,572
206.536
243,135
ROAD.—Owns and operates railway system in San Diego and Coronado
aggregating 75.75 miles of track, including 28.41 miles of second track and
1.21 miles sidings.
Operates 10.61 miles between San Diego and Chula
Vista, owned by San Diego & Arizona Ry. Co.
Standard gauge 60-lb.
T rail and 114-lb. Trilby.
Has generating capacity of 7.200 k. w.
OFFICERS.—Pres., J. D. Spreckels; V.-P. & Man. Dir., Wm. Clayton;
Sec., Claus Spreckels; Gen. Counsel, Read G. Dilworth; Treas., Claus
Spreckels.—V. 83, p. 380; V. 85, p. 1144; V. 99, p. 122, 675, 1131; V. 109,
p. 1462, 2172.
1919 .—$1,034,969
1918
1,088,363
•
v
SAN
FRANCISCO, CAL.
PACIFIC GAS & ELECTRIC CO.—See "Railway
& Industrial" Section
STREET CABLE.
ORGANIZATION.—Chartered Feb. 8 1877.
Annual meeting the third
Wednesday in January.
Franchise expires In Feb. 1929.
CALIFORNIA
Interest.
Outstanding.
Maturity.
Monthly
$1,000,000
See text
1915
6 g J-J
253.000
Serially
000) red 1st 5 yrs at 105,{Int. at office of company.
Union Trust Co.
thereafter at 103
I
of San Francisco. Trustee.
Bonds.—$384,000 bonds were issued to retire $900,000 bonds due Jan. 1
1915 (of which $516,000 were in treasury, leaving $384,000 to be refunded).
The new bonds are due In 12 annual installments beginning Jan. 1 1916 and
STOCK AND BONDS—
Stock (par $100)..
First mortgage $384,000
($1,-7
Date.
$131,000 have
Jan. 1 1927.
ending
matured in 1920, 29, the
been
retired.
(a)
No. of bonds which
remainder mature successively
increased to 75
monthly, and in Nov. 1904 to 90 cents monthly.
On account of
earthquake and fire, no dividends were paid from April 1906 to Sept. 1908.
when dividends were resumed at 50 cents per share up to May 1909. when
60c. per share was paid: same rate monthly since.
$533,311
455,219
460.067
...
1918
1917
Surplus.
$97,487
87.207
129.308
Deductions.
$143,407
$45,920
121,980 Dr. 10,767
45,540
175,408 Dr.21,100
25,000
miles of track on 5X miles of street.
OFFICERS.—-Pres., J. Ilenry Meyer; V.-P., A. H. Payson; 2d V.-P.,
W. Harris; Sec., Geo. A. Hare; Treas., J. H. Meyer & Co.; Aud.,
Chas. P. Stone; Sunt., J. W. Harris.
Office, 1061 Hyde St., San Francisco.
Oal.—V. 99, p. 1831.
ROAD.—Operates 11
Jas.
UNITED RAILWAYS INVESTMENT CO.
ORGANIZATION.—Incorporated in New Jersey
1902.
In
from United
83, p. 689.
Owns directly or indirectly through stock ownership all the outstanding
common and pref. stock and $165,900 of the 7% prior preference stock of
the California Ry. & Power Co.
Also owns the stock of The Railroads &
Feb.
17
Sept. 1906 filed an amendment to Its charter changing its name
Railways Inv. Co .of San Francisco to its present title.
V.
Development Co.
V. 89, p. 287, 529, 848.
May 6 1910 shareholders approved a plan (V. 90, p. 1103) to increase
stock from $25,000,000 to $31,000,000 and to issue $6,000,000 6%
bonds, convertible into common stock at par, and also authorized directors
Power
On
common
portion of unissued pref. stock to adjust arrears of oividends
to accrue on outstanding pref. up to and Including Oct. 1 1911.
1103, 1240, 1297.
Acquisition of Philadelphia Company.—In Fein 1906 acquired $21,000,000
of the common stock of the Philadelphia Co. of Pittsburgh, giving $37 50
in new collateral trust bonds and $20 in common stock or the Invest¬
ment Co. for each $50 share of the Philadelphia Co.
See V. 82, p. 393.
988.
For statement made in listing these bonds on the Philadelphia Stock
Exchange, see V. 83. p. 1235.
Now owns $24,555,000 Phlla. Co. com. stk.
Against the $1,000,000 4-year notes shown in the table below, the com¬
utilize
to
accruer!
V.
90,
a
or
p.
"notes receivable—United IiRs. of San Fran¬
cisco."
The company
has started a reserve account and put aside
$1,774,125 to apply toward the reduction of the loss sustained through the
United RRs.
See that company below.
holds
pany
$1,000,000
which
on
Outstanding. Last Div.&c.
....$20.400,000
16.000.000 Jan '07. 2H
$25,000,000 ($100)
I
in scrip
Pref stock div certificates
See text
1.462,500
1st lien collateral trust mtgef 1906
5 g M-N
15,502,000 May 1 1926
$20,250,000 gold ($1,000)-!Int. at Guar. Trust & Saife Dep. Co.. Phlla..
sinking fund
c*!
or N. Y. Trust Co., N. Y., Trustee.
Conv bonds $6,000,000 goldf 1910
6 P-A
790.000 June 1 1930
($1,000)
(
Central Trust Co.. N. Y , trustee.
Four-year gold notes..
1917
5%
1,000,000 Feb 1 1921
*
..-
all acouired com
They are subj. to call on
Bonds.—The coll. trust bonds are secured by deposit of
stock of the Phila. Co. except 7,100 shares.
Int. date at 105 and int.
A sinking fund of 1 % per annum of bonds out
began May I
1911. said fund to be invested in the bonds at
not more than 105 & int.
The amount reported outstanding as above ex
eludes $2 048 000 held by trustee in sink
fund.
Authorized amount of
bonds may be increased for purchase of additional shares of com. stock of
Phila. Co.
Bonds are listed on N
Y. & Phila. Stock Exchanges.
V. 90
mon
any
standing
ORGANIZATION.—Incorporated in 1909 for purpose of
STOCK AND BONDS—
on
o
Stock.—The preferred stock can be retired at 110.
$1,000,000 of the
pref. stock out bears divs from Sept. 1 1909.
Pref. Stock Div. Certificates,—Of the $1,462,500 outstanding. $712,500
bear int. at rate of 6% and $750-,000 at 5%.
Dividends.—First div,, 1M %, on pref. stock, paid Jan. 3 1903; 1H%
July '03; in Jan. '04. 1H%; July. IM%; in '05, 4%; in '06. Jan.. 2^% (V.
81, p. 1667); April, 4%%—owing to the earthquake and fire, this dividend
was paid in interest-bearing scrip instead of cash.
V, 82, p. 988.
In July
1906 another scrip dividend of 2X% paid (V. 82, p. 1381), and in Jan. '07
anothor of the same amount; July '07 dividend passed altogether.
V. 84
p. 1429.
None since.
REPORT.—Fiscal
June
30
years
Divs.
Year
Ending—
on
ending June 30 (1919 repprt V.
R'r'd
Storks
.1919.--..$1.473,300
June
30
1918
June
30
1917
1,534,687
1,718,850
1916--.-.
Other
1.590.685
June 30
The entire
125
have
Total
Income
Ernenses.
$192,893
$73,137
168,821
90,270
172,733
84,441
175.541
73.743
109, p. 1790):
interest on
Balance
Bonds.&c
$1,074,449
1,072,523
1,092,339
Surplus
$518,607
540,715
714,803
1.115.321
577 162
surpluses of 1918-19, 1917-18and 1916-17 aggregatingS 1,774.as a provision
toward losses sustained through
been set aside
United RRs. of San Francisco.
OFFICERS.—Pres., Mason B. Starring; V.-P., Eben Richards; Treas.,
S. Guinness, N. Y.; Sec. & Asst. Treas., M. V. R. Weyant; Aud. &
Asst. Sec., P. M. Hoskins.—V. 105, p. 717, 1421, 1516; V. 106, p. 2451
V. 107, p. 1379; V. 108, p. 1823, 2023; V. 109, p. 1701, 1790.
investment in
B.
(1)
The Railroads & Power Development Co.
ORGANIZATION.—Incorporated In Maine on June 9 1909 with nominal
($1,000) capital stock, which has since been increased to $6,000,000 ($100),
All stock (except directors' shares) is
1314. 1129). Tn Dec. 1912 dis¬
posed of its holdings in the San Francisco Electric Rys., Sierra & San Fran.
Power Co. and Coast Valley Gas & Elec. Co. to the California Ry. & Power
Co.
Owns among other investments $163,900 prior preference, $1,740,000
pref. and $5,836,000 common stock of the Calif. Ry. & Power Co.
OFFICERS.—Pres., Mason B. Starring: V.-P., H. J. Bowdoin; Sec. &
Treas., P. M. Hoskins.—V. 88, p. 529, 847; V. 90, p. 1364.
of which $5,501,000 is outstanding.
owned by United Rys. Invest. Co. (V. 88. p.
(2)
California
All the
common
Railway
and pref.
Rys. Investment Co.
ORGANIZATION.—Incorp. In Delaware on Dec.
mortgage
(&) Sierra & San Francisco Power Co.
& Power Go.
ORGANIZATION.—Incorporated in California on May 29 1909 and on
Sept. 1 1909 took over the Stanislaus Elec. Pow. Co. and the Tuolumne
Water Power Co., both foreclosed per plan In V. 88, p. 235, 569, 1005, 1066.
Has contract extending to 1954 with united RRs. of San Fran, to supply
power to that company.
In Oct. 1917 purchased the LaGrange division,
of the Yosemlte Power Co. for $450,000 and cost of additions and better¬
ments from Dec. 1916.
V. 105, p. 1528.
In 1910 reclassified its bonded debt as given below.
V. 91, p. 342.
Valuatim Asked.—In March 1918 asked the Cal. RR. Comm. to investi¬
gate the co's property value and to fix water and electricity rates. V. 106,
p. 1349.
No valuation had been made to Sept. 25 1919, but the commis¬
sion's investigation was then under way.
The construction and enlargement of reservoirs and ditches, involving
Stock is owned by the California Ry.
expenditure of $5,000,000, is contemplated.
For details, see V. 105,
1999.
1918 was auth. by the Cal. RR. Coram, to sell at not less than
80 and int. $1,000,000 1st M. 5% bonds, proceeds to be used to reimburse
the treasury in part for exp. and impts. made prior to Feb. 8 1918 (not incl
in table.)
Up to Sept. 2o 1919. these bonds had not been soid.
an
p.
On May 2
STOCK AND BONDS—
the entire outstanding
previously been held by the United Rys. Invest. Co. and The Railroads &
Pow. Devel. Co.
Also owns $1,925,000 7% notes of the United RRs. of San
Fran.
No int. has been paid on these notes since Dec. 15 1916.
On Dec.14
1917 the company brought suit against the United RRs. for recovery of
principal and interest.
In Mar. 1919 the case was still pending.
STOCK—
Authorized. Outstanding.
Last Div.
Common stock
-$40,000,000 $40,000,000
Pref. stock, 7% cum., red. at $1156.874.400
6,874,400 June '14. 2%
Prior preference 7% cumulative
5.000,000
2.800,000 See text
Prior preferred stock is redeemable at $115 a share except the first
$3,000,000, which will be retired, when earnings are sufficient therefor,
through a cumulative sinking fund $100,000 yearly on January 1
1914 to 1917 and $260,000 annually thereafter.
$100,000 was redeemed in
cash Jan. 2 1914 (V. 97, p. 1820. 1662) and $100,000 Jan. 2 1915 (V
100.
p.
53).
None redeemed since.
Additional prior pref. stock may be
issued only for additions, betterments, acquisitions. &c.
other incumbrance may be created that does not provide
tion of all prior pref. stock then
outstanding.
V. 96,
p.
No mortgage or
for the cancella¬
61.
REPORT.—For years ending June 30 (1919 report In V. 109. p.
Total
Net
Previous Total for
Prior Pref.
Fiscal
1608):
Total
Surplus.
Divs.
Dividends.
Surplus
1918-19
$ 13 ldef$28528def .$5,498 def .$34,026
df$34,026
1917-18
222defl0,056
4,558def 5,498
def 5,498
1916-17—- 92,425
18,544
14.014
^32,558
(1%) 28,000
4.555
Dividends.—First div. on prior pref. stock—IX %—paid April 1 1913:
same rate quarterly to and lncl. July 1916.
In Oct. 1916 paid only 1%
None since.
V. 105. p. 1416.
In Sept. 1913 a dividend of 3 H% wa
paid on the preferred stock.
In June 1914 2% was paid.
OFFICERS.—Pres., Mason B. Starring; Y.-Ps., G. de B. Greene and
8. H. March: Treas
B. S. Guinness; Sec. & Asst. Treas., P. M
Hoskins;
Asst. Sec., C. H. Mann.—V. 104. p. 1263. 2010. V. 105. p. 1308. 1416,
1418, 2542; V. 107. p. 1380; V. 109, p. 1608.
Year—
Income.
Income.
,
$20,000,000
Stock
Outstanding.
$20,000,000
Interest.
Date.
($100)
Maturity
-
($1,000,7 1909
5 g F-A
7,500,000 Aug 1 1949
c*&r*tf flnt.at U.S.Mtge.&Tr Co., N. Y., Trustee.
$9,500,000/ 1909
5-6 J-J
9.500.000 Jan. 1 1949
c»lColumbia Trust Co., New York, Trustee.
1st M $30,000,000 g
$5,000. &c)
2d rntge Ser A& B
($1,000)
Bonds.—First rntge. bonds are subject to call on any Int. date at 110
The remaining bonds may be issued at 80% of cost of extensions
int.
and
and
add'ns, provided net earnings for previous 12 mos. shall equal twice int.
charge on all outstanding bonds, incl. those to be issued.
V. 91, p. 157.
The bonds are listed on the N. Y. Stock Exch.
Second rntge. consists of
6%, and Series "B" $8,500,000 (incl. $37,000 in
Series "B" bonds was payable at option of com¬
Series "A"' $1,000,000, at
Int.
treas.), at 5%.
on
additional Series "B" bonds
subsequent int. has been
July
pany from
1 1910 to and incl. Jan. 1916 in
In lieu of cash, and was so paid.
July 1 1916 and
paid in cash.
Other
Interest on
Balance,
Income. Bonds, Ac. Surplus.
'$11,213
$863,567 $129,417
June 30 1918
1,694,474
1,010.111
20,831
859,357
171,5S5
June 30 1917-..
1.438,047
972,147
30.087 \
845,593
156,641
Property.—Owns and operates water-power properties near San Francisco
and a supplementary steam station in that city, which have a combined ca¬
EARNINGS.—
12 Mos. ending—
June 30 1919.
pacity
Gross
Earnings.
$2,225,160
Net (after
Taxes).
$981,771
b.p.
of 97,940
H F. Jackson, San Francisco; V.-Ps..
P. M. Hoskins. N. Y.; Sec. & Treas.,
Francisco.—V. 106, p. 2349, 2763; V. 107, p. 1389.
OFFICERS.—Pres. & Gen. Mgr.,
K. Moffitt. San Francisco, and
F. J. Blanchard, San
(c) Coast Valleys Gas & Electric Co.
Ry. & Power Co.
ORGANIZATION.—Incorporated on March 20
Stock is owned by California
in
1912
California.
Monterey Gas & Electric Co.. the Monterey
Salinas Valley Water Co. and the King
Light & Power Co., and owns all stock of the Monterey
Acquired the properties of the
County Gas & Electric Co., the
City
Water,
electric and gas business In Mon¬
also owns water system of Salinas and
Valley and elec. & water system at King
City.
Also owns $72,000 Monterey & Pacific Grove RR. 1st 6s, there being
$300,000 auth.. of which $18,000 are in sinking fund and $12,000 in
Pacific
Sc
Grove
entire
Does
RR.
terey. Salinas and Pacific Grove;
electric distributing lines in Salinas
treasury. Jan. 1 1915 and subsequent coupons on Monterey & Pacific
bonds ($198,000 in hands of public) are in default.
V. 100, p. 229.
tective committee, with Carter
V.
Pomeroy as Chairman, has been
Grove
A pro¬
appointed.
100, p. 398.
April 1915 Cal. RR. Comm. auth. company to issue $10,000 bonds for
These are not included in table.
Comm. stated it would reconsider
application to issue $100,000 bonds when the question of the company's
liability as to the $300,000 Monterey & Pacific Grove Ry. bonds under guar¬
anty given by Monterey County Gas & Elec. Co. has been determined.
V.
100. p. 1440.
The company has placed a valuation of $1,213,546 on its property as of
June 30 1917.
V. 108, p. 686.
Rales.—In March 1919 was auth. by
the Cal. RR.Comm. to add a
surcharge to rates for electric energy which is equivalent to an average
increase of 20%.
V. 108, p. 1167.
On May 12 1919 was auth. by the Calif. RR. Comm. to issue $125,000
in bonds.
Compare V. 108, p. 686.
These were subsequently sold.
In
exts.
the
Interest.
Date.
STOCK AND BONDS—
Common $3,000,000 ($100)
Outstanding.
$3,000,000
Maturity,
$2,000,000 ($100)
7%\ — 2,000.000
cum from July 1'12: red 110]
V
First
M
$10,000,000
goldf 1912
6 g M-S
1,025,000 Mar 1 1952
($1,000) ann sk fd of l%\Interest at Mercantile Trust Co., San Fran.,
of bonds out beg Mar '18 c*i
Trustee, or U., S. Mtge. & Tr. Co , N. Y.
Pref
Bonds.—Remaining
V.'94,
105 and int.
additions and extensions at 80% of
redeemable, all or any, on any interest
bonds are for
under restrictions. ' .Bonds are
date at
p.
1249.
Net. {after
Other
Bond
Balance,
Taxes).
income.
Int.. &c.
Surplus.
$101,518
$27,309
$59,681
$69,146
June 30 1918-— 326,190
111,062
1,334
58,546
53,850
June 30 1917--. 270,914
92,799
857
59,440
34,216
OFFICERS.—Pres. & Gen. Mgr., H. F. Jackson, San Francisco; V.-P.,
P. M. Hoskins, N. Y., and Warren Gregory. San Francisco; Sec. & Treas.,
F. J. Blanchard, San Fran.—V. 105. p. 1416. 1423; V. 108, p. 686,
1167.
Gross
EARNINGS—
18 1912 to take over
1st pref stocks and $7,950,000 common
stock of United RRs. of San Fran., and the entire outstanding stocks (except
director's qualifying shares) of the San Francisco Elec. Rys., Sierra & San
Francisco Pow. Co. and Coast Valleys Gas & Elec. Co. These securities had
and hold
Maturity
$10,000,000
First
cost,
& Power Co.
stock issued is owned or controlled by the United
Owns $9,997,500 com¬
Outstanding.
Interest.
Date.
acquiring and
V. 88, p. 1129, 1314.
(V. 89, p. 287) and also
($100)
$10,000,000
$10,000,000/ 1909
5
1,416,000
Dec. 1934
gu p & i by U RRs of S F._\Union Trust Co., San Francisco, Trustee.
Of the bonds reported outstanding, $351,000 are In sinking fund
OFFICERS.—Pres., Geo. K. Ford; V.-P., John A.
T.vrell; Treas.,
J. F. Forbes; Sec., F. F. Hahn.—V. 91, p. 464; V. 95, p. 1609. 2011.
Stock
J.
Interest
& 169, 172.has accrued
Convertible these bondsconvertible 11917. See remarks at par
bonds are since Feb. into common stock above.
see
operating other street railways In San Francisco.
In July 1909 acquired the Parkside Elec. Ry. Co.
the Vfeitacion Valley Elec. RR.
V. 89, p. 529.
mon stock of United RRs. of San Francisco.
Interest.
Date.
STOCK AND BONDS—
Common $31,000,000 ($100)
Pref 5% cum from Apr 1 19021
Ry. & Power Co.
1910 road was leased to the United RRs. of San Francisco,
below.
Lease provides for all charges, lncl. int. and sink, fund'
bonds.
Lesseeiguar. prin. & int. on 1st rntge. bonds.
V. 91, p 464.
Lease.—In
cents
EARNINGS.—For years ending Dec. 31:
Year—
Oross.
Net, aft. Taxes. Olh.Inc.
San Francisco Electric Railways.
Entire stock is owned by California
thereafter, 30, 32,
33, 37, 39 and in 1927, 46.
V. 99, p. 1831, 1672, 1596.
Dividends were 50 cents monthly, but in Aug. 1902 were
1919
[Vol. 110.
ELECTRIC RAILWAYS
1u
Earnings
1919-..$367,170
Years ending—
June 30
United Railroads of San Francisco.—Trolley.
Incorpo.ated in California on March 4 1902 and charter
1902.
Has acquired the following stocks:
(d)
29
amended March
Shares
Acquired.
Name of Company—
Market Street Railway Co
Sutter Street Railway Co
Sutro Railroad Co.
San Fran. & San Mateo
Electric Ry. Co
186,169.11
20,000
23,066
10,000
Par
Value.
$100
100'
10
100>
239,235.11
in common stock from
the United
Ry. Investment Co. having
cancellation.
V. 88, p. 1314.
has acquired $9,997,500 of com. stock of
of the common stock and all the pref. are
owned by the California Ry. & Power Co.
United RRs. of San Fran, in 1910 leased the San Fran. Elec. Rys.
See
that company above and V. 91, p. 46:
Also leases Gough Street RR.
Default—Reorganization.—In view of the unsettled conditions surround¬
ing maturing underlying bonds and reorganization plans, the Oct. 1 1916
and subsequent interest on the company's $23,854,000 4% bonds has not
been paid (V. 103. p. 1303).
A sufficient number of bonds having been de¬
posited thereunder, the amended plan of reorganization dated April 26
1917 was declared operative June 2 1917.
Full details of the plan were
given in the May 1918 number of this publication.
Owing to changed
conditions it was deemed advisable to amend this plan to some extent.
The amended plan, which has been approved by the Calif. RR. Comm.,
and which was declared operative (V. 110, p. 1291, 1527) in March 1920,.
provides:
On
March 5
1909 filed a certificate of decrease
to $18,800,000,
surrendered 12,000 shares for
The San Fran. Elec. Rys.
Un. RR. of S. F.; $7,950,000
$20,000,000
APR., 1920. J
ELECTRIC
RAILWAYS
The Market Street Ry. Co. is to become the operating company and it
capital stock is to be increased to S32.150.000, par $100 a share, and will be
reclassified; the company is also to create an issue of 6% 5-year notes with
which to refund the matured underlying bonds.
distributed as follows:
These securities
are
STOCK AND BONDS—
Equipment
($1,000).
and int.
to be
bonds, $23,500,000, will receive
as
St.
an aggregate
Bonds.
of 100%,
or
$23,500,000, in
Preferred
2d Pref.
Stock.
Stock.
.
—
bonds, $179,000, and of the Market St. Ry. Co.
5%bonds, $82,000 have
re-acquired and are held by the company.
Dividends.—On 4% pref., in 1902, Dec.,
1.2%; in 1903, June, 1.2%;
Dec.. 1.2%; in 1904. June, 1.5%; Dec., 1.5%; in 1905, June,
1.8%; Dec.
2%.
In 1906, Mch., 3.6% (in full of all deferred dividends in arrears to
Sept. 30 1905): Dec., 2% (paid in dividend ctfs.).
None to Aug. 1913,
when 1 % was paid
None since.
On 7% pref., 3Vf% paid
semi-annually
been
from Feb. 1909 to Feb.
1914.
None since.
On com., 1.5%, Mar. 1906.
Earthquake and Fire.-— For damage done by the earthquake and fire in
April 1906. see V. 82. p. 930, 988.
Later in the year the company suffered
from a strike of Its employees.
See V. 83, p. 493, 563.
In March 1907 em¬
ployees again went on strike, and this strike lasted for six months—see
annual report, V. 86.
p, 1221
.
REPORT.—For v«ar end
June 30*
Fiscal
Gross
Net (after
Other
above
An extended outline of the amended
Francisco_as counsel.
Up to Mar. 20 1920 holders
of more than $22,760,000 4% sinking fund bonds, due 1927, had
approved
the changes in the amended plan.
V. 110, p. 1527.
jDepositaries for United RRs. 4s.—Uulou Trust Co., Market St. and Grant
Ave., San Francisco, and as its agents. Guaranty Trust Co. and Equltaole
Trust Co., N. Y. City.
Certificates of deposit have been listed on the
Stock
Y.
Exchange.
Eastern Committee.-—Chairman, John Henry
Hammond, of Brown Bros.
& Co.; Donald G. Geddes, of Clark, Dodgi & Co., N. Y.; B. Howell Griswold Jr., of Alexander Brown
& Sons, Baltimore, Md.; A. H. S. Post,
Pres. Mercantile Trust & Deposit Co., Baltimore; Sec., Morrell W.
Gaines,
50 Wall St., N. Y. City.
Depositaries, Union Trust Co., N. Y. City;
Girard Trust Co., Phila.; Mercantile Trust & Deposit Co., Baltimore.
Brown, Shipley & Co., Founders Court, Lothbury, London, E.G., will act
as sub-depositary for foreign holders.
See V. 104, p. 1703.
On Dec. 26 1916 suit was brought to foreclose the
mortgage securing the
$1,800,000 Market St. Cable Ry. bonds due Oct. 15 1916.
V. 104, p. 73.
The bonds have been purchased at par by a syndicate which has also
pur¬
chased at par the Ferries & Cliff House 6s due Dec. 31 1916.
In Mar. 1918
the Anglo-California Trust Co. and the London Paris Nat. Bank of San
Francisco filed suit against the Market Street Ry., this co. and the Union
of San Francisco, as trustees, to foreclose the latter
mortgage.
V. 106, p. 1127.
On April 1 1920 the case was still pending.
On Dec. 12 1918 an agreement was signed providing for the use of the
company's tracks west of Twin Peaks on Ocean Ave. and to Parkside by the
Trast Co.
Railways, the consideration for this privilege being $100,000
a car mileage charge of 7^ cents.
Compare V. 107, p. 182.
Municipal Bonds Voted.—At a city election held Aug. 26 1913 it was
Municipal
and
voted to issue $3,500,000 bonds for the construction
or
acquisition of a sys¬
tem of municipal street railways.
See V. 96, p. 1490; V. 97, p. 238, 597.
Negotiations for Purchase by City.—At a meeting held Sept. 24 1917, at
which the Mayor, a committee of citizens and the members of the Reor¬
ganization Committee were present, it was proposed that the city appraise
the physical property of the company ana buy on the installment
plan;
also to agree with the co. on a year determined to be a fair measure of its
net earnings, or take an average of 5 years, as the price to be
paid by the
city each year for every year of the franchise.
No bond issue is contem¬
plated in the plan, but it would become effective through a charter amend¬
ment.
On Sept. 25 1917 the Public Utilities Committee of the San Fran¬
cisco Board of Supervisors adopted a resolution saying the
purchase of the
U. RR3. by the city was in the best interests of the people and authorizing
the City Engineer to confer with a representative of the co. to fix a basis
of valuation.
Any plan adopted must be ratified by the people at an elec¬
tion.
V.
105. p.
1421. 1899.
For report of Bion J.
&c.,
see
V. 96,
p.
1490.
Arnold on electric railways situation, franchises,
See also V. 103, p. 2429.
In the U. S. Court, at San Fran¬
preventing the construction of
municipal street railway tracks on lower Market St., paralleling the co.'s
tracks.
The company appealed, but on April 21 1919 the U, S.
Supreme
Court upheld the decrees of the Federal Court dismissing the injunction
proceedings brought by the company.
In dismissing the company's appeal
the Court said that this action was taken without prejudice to the
company's
right to seek damages.
The various damage suits filed by the company up
to May 1919 bring the total amount of damages claimed
up to $6,870,130.
V. 108, p. 1823, 1722.
Compare V. 107, p. 2290; V. 108, p. 1391.
Strike—Wages.—A strike for a wage of $3 50 per eight-hour day and time
and a ha*f for overtime begun Aug. 12 1917,, was formally abandoned
1917.
Those platform men who remained loyal received
a
STOCK AND
BONDS—
Common $18,800,000
Pref 4% cum $20.000,000
Date.
Interest.
V. 105, p. 2544.
—_—
Taxes),
^
^
^
(jjj
1,988,678 167,355 1,899,361 178,200
sur.78,472
1917-18--,__6,261,999
255,176 170,408 1,925,676 177,600 dofl,677,691
1916-17—
7,458,142 2,205,940 163,121 1,928,882 176.700
sur.263,479
—
.
ROAD.—Controls and operates 274.54 miles of track.
Before the earth¬
quake and fire in 1906, a part of the mileage consisted of cable lines, but
this has since been changed to overhead
trolley, and the greater part (94%)
of the system is now
operated by electricity.
759 pass, and 69 work cars.
FRANCHISES.—In
x
report by Haskins & Sells, accountants, it was
stated "that out of the total original mileage of 228.95
miles, the franchises
for 11.5431 miles only expire prior to 1929: all others between that
year
and
a
1952."
OFFICERS.—-Pres. & Gen. Mgr., William von Phul; Y.-P. &
Sec., Geo.
Dahler.—V. 108, p. 1722, 1823, 2023, 2434;
V. 109, p. 73. 1367, 1610, 2074; Y.
110, p. 262, 1189, 1291. 1527.
j B. Willcutt: Tres., A. M.
PRESIDIO & FERRIES RAILROAD.—Trolley.
The city of San Francisco purchased the
property and rolling stock for
$323,000 and is now operating it, the franchises
having expired Dec. 13
1913.
All debts were paid and stockholders received a dividend of
$40
per share (par $100, of which $55 paid in in
liquidation.)
SACR.AMENTO NORTHERN RR.
Organization.—Incorp. in California
on
June 20 1918
as a
reorganization
plan in V. 104, p. 1489 of the Northern Electric Ry., bid In at fore¬
on May 28 1918.
V. 106, p. 2758; V. 107, p. 182: V. 109, p.
2440.
Owns $75,500 of stock of the Northern
Realty Co. and uses some of
per
closure sale
its properties for operative purposes.
V. 108, p. 80.
In Jan. 1919 the Cal. RR. Comm. auth. the co.
to use $653,750 realized
its Class "A" bonds to pay
reorganization and foreclosure expenses
and to satisfy a mortgage indebtedness of $76,250 of the Northern
,
from
Co.
V.
108,
Realty
p.
80.
Compare Y. 107,
p.
2098.
See also V. 109. p. 1274.
The capitalization of the new
company is as follows:
First pref. (a. & d.) stock, 6% non-cumulative
(par $100)-----_$1,902,200
(a. & d.) stock, 6% non-cumulative (par $100)____
957,800
2,340,000
on equal footing except as to interest
payments.
Dated July 1 1917.
Denom. $1,000, $500 and
$100; Interest payable semi-annually.
Total, $5,500,000, viz.:
Class "A" bonds, call, at 102, a fixed
charge from July 1 1917_$2,012,400
Class "B" bonds, call, at par, a fixed
charge from July 1 1919.
951,200
♦Class "C" bonds, call at par, a fixed
charge from July 1 1922_ 1,268,200
♦Class "D" bonds, call, at par, a fixed
charge from July 1 1927. 1,268,200
♦Prior to dates named O and D bonds will receive interest
only to
extent of net earnings.
Second pref.
Common stock (par $100)
lif M. 5% 20-year bonds, all
A
sufficient
number of Class "A" bonds will be sold to
provide for pur¬
reorganization plan.
Voting Trust.—All of the new capital stock is deposited with the Union
Trust Co. of San Francisco under a
voting trust agreement, such trusu to
continue until all the bonds of the new corporation shall be
paying the full
fixed interest of 5% per year, but not
longer than July 1 1927.
See V.
104, p. 1489.
poses necessary to the
PENINSULAR
~
RAILWAY.
Entire stock, except directors' shares. Is owned by Southern Pacific Co.
ORGANIZATION.-—Incorporated in California June 30 1909 as a con¬
solidation of various electric railways In which the Southern Pacific is inter¬
ested, namely the Peninsular RR. Santa Clara Inter-Urban RR. (V.
83,
p.
p.
380; V. 87, p. 545) and the San Jose-Los
14Q9; V. 89. p. 104).
STOCK AND BONDS—
Stock $12,000,000 ($100)
San Jose-Los Gatos Inter. 1st
On
4 J-D
7% cum $5,0t)0.000_. 1907
7 F-A
Notes $1,000.000
\ 1906
5
1.000.000
Feb. 1 1916
[Redeemable after 5 years at par.
Sinking fund gold bonds $35,-7 1902
4 g A-O
23.500.000 April 1 1927
275,000 ($1,000)
c*{Interest at company's office, or in New York
[
Union Trust Co., San Francisco, Trustee.
Income deferred notes
6%
740,000
Note (to Cal Ry & Pow Co)___ 1912
7%
1.925.000
1st pref
Earnings.
ROAD.—Total main line operated, 160.43; other tracks, 53.18;
total,
Connects
Chico,
Oroville,
Marysville,
Sacramento,
Yuba
City. Colusa, Meridian and Woodland.
Also connects Sulsun and Vacaville in Solano County.
Gauge, 4 ft. 8M in.
Rail. 60 & 70-lb. T
OFFICERS.-—Chairman of Board, John D. McKee; Pres., George F.
Detrick; V.-P., Sidney M. Ehrman; Sec. & Treas., A. E. Wellington.
—V. 109, p. 677, 1274.
wage
Outstanding.
Maturity
$17.948.600Mch'06 1.5%
20.000.000 Aug'13, 1 %
5.000.000
See text.
Year—
1918-19-. —8,035,647
213.61.
increase of 3 cents per hour.
V. 105, p. 910, 1523, 2186; V. 106, p. 1902.
Suit.—On Dec. 14 1917 an action to recover $1,925,000 and int. at
7%
from Dec. 1 1916 was brought against the co. in the U. S. Dist. Court
by
the California Ry. & Power Co., which contends that said amount remains
unpaid on a loan of $2,000,000 made to defendant.
April 1 1920 the case was still pending.
Interest, Rentals & Balance for
Income. Chgs;,&c. Leases. Sink. Fd,,&c
,
EARNINGS.—For cal. year 1919, gross oper. revenue, $1,532,130; net,,
after taxes & deprec., $246,681; other income, $29,980;
int., &c., $169,828
bal., surp., $106,833.
Decision.—On Jan. 18 1917 Judge Hunt
cisco dissolved the temporary injunction
Nov. 23
Maturity.
tended to Dec. 31 1914 after $50,000 were retired.
In Dec. 1914 E. H.
Rollins purchased and extended to Dec. 31
1916 $400,000 of these bonds.
The remaining $200,000 (of the
$600,000 due Dec. 31 1914) were paid at
maturity (V. 99, p. 1912).
The note to the Cal. Ry. & Power Co. was
originally $2,000,000 but $75,000 has been paid.
Of the Omnibus Cable Co.
_________
5,200,000
plan, dated. April 26 1917, will be
found in the May 1918 number of this publication, and the reader will find
the above amendments and changes in details in V. 109, p. 1367.
In Jain.
1920 over 91% of the holders of the Market St. Cable 6s, Ferry & Cliff 6s,
Omnibus Cable 6s, and Sutter Street 5s, had agreed to exchange their
bonds for the new Market St. Rys. 5-year 6% notes.
V. 110, p. 262.
See
also V. 110, p. 1291.
Reorganization Committee.—Frank B. Anderson, Chairman; William H.
Crocker. Herbert Flelshhacker, 1. W. Hellman Jr., and John D. McKee,
with office at 901 Alaska Commercial BIdg., San Francisco, and Pillsbury
Oct 15 1916
1,821.000 April 2 1918
1889
6 M-S
400,000 Dec 31 1916
1888
5 M-N
951,000 May 1 1918
[Union Trust Co., San Francisco, trustee.
Bonds.—Of the $35,275,000 sinking fund gold 4s, $9,866,000 are reserved
to retire underlying liens
(the other $3,175,000 needed for that purpose be¬
ing provided by the operation of the sink, funds).
A sink, fund equal to
2% of the entire gross earnings, but not less than $100,000 a year, began
Jan. 1 1905.
All the income above 5% on the common must also be
applied
to a sink, fund or for
Improvements.
V. 74, p. 529, 630.
Through opera¬
tion of skg. fd., $1,505,000 bonds have been
purchased and canceled; $50,000
remain unsold in the
treasury; $354,000 have been reacquired and are
held by the company; these bonds are not included in amounts
given above
as
outstanding.
Bonds were listed on the New York Stock Exchange in
March 1908.
V. 76, p. 1036.
Equipment notes of 1912 mature $30,000
annually July 1 1913 to 1922.
V. 95, p. 751.
Prior lien bonds subject
to call.
$3,000,000 of Market St. Cable Ry. bonds were originally issued,
falling due Jan. 1 1913.
On that date $1,200,000 were retired and the bal¬
ance was extended to Dec.
15 1915 and again to Oct. 15 1916.
The bonds
of Market
Street Ry. issue are
subject
to operation of sinking fund
and Sutter St. Ry. 1st
Mtge. 5s are subject to call at rate of $50,000 per ann.
in numerical order,
beginning with bond No. 1. $49,000 of the latter have
been reacquired and are held in
skg. fd. The notes shown in the table
above were Issued to reimburse the
company In part for improvements since
1902.
The Ferries & Cliff House mtge. which fell due Mar. 1
1914, was ex¬
____,
_
1,800,000
I
...
_
Maturity.
6 A-O
■
The holders of said junior securities of the aggregate face amount of
$46,613,600, have agreed to surrender or cancel all said notes and perform
the other acts provided in exchange for this $12,175,000 of new stock.
As
a part of this transaction, the holders of the junior securities will cause all
the properties, operative and non-operative, of San Francisco Electric Rys.,
except shares of stock of United Railroads, to be transferred to the Market
Street Ry. Co., or to such other corporation or person as the committee
shall direct, with appropriate quit claims, &c.
In consideration for which,
in addition to the delivery to them of the stock above mentioned, the com¬
mittee will cause the $790,000 bonds of the United Railroads Investment
Co., and $901.385 notes of Railroads & Power Development Co., now owned
by the United Railroads, to be canceled, as heretofore provided in the
original and in the amended plan.
A description of the securities to be issued in connection with the
plan
together with the am Hints of each issuable thereunder, follows:
Prior Preference Stock entitled to cumulative divs. at rate of 6%
per annum from the date of issue, preferred over all other stock
with respect to dividends, and, in case of dissolution, with
respect also to the assets..______
.$11,750,000
Preferred Stock 6% cumulative divs. and preferred to the same
extent over the 2d Preferred stock and Common stock
5,000,000
Second Preferred Stock 6% non-cumulative and preferred over
Common stock with respect to dividends and assets
4,700,000
Common Stock
10,700,000
Five-Year 6% Notes in the aggregate amount of $5,200,000, se¬
cured by $5,200,000 of the present unissued Market St. Ry.
Co. 5% bonds.
Said notes will also be secured by a first
mortgage upon all the operative properties and franchises of
United Railroads formerly owned by the Sutter St. Ry. Co.,
Sutro RR. Co. and San Francisco & San Mateo Electric Ry.
Sinking fund, $160,000 annually.
Total issue, with $520,000
cash, to replace a like amount of underlying bonds as stated
—
6 J-D
1888
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Contingent Liabilities.—Prln. and int. guaranteed.—
San Francisco Electric Rys
$1,416,000
Gough Street Ry
45.000
Common
Stock.
1883
($1,000) g (see text)
J
Omnibus Cable Co 1st Mtge__
Ferries & Cliff House Mtge___
Sutter Street 1st Mtge gold f
($1.000
Prior Pref.
Stock.
Outstanding.
Int. at Treasurer's office, San Francisco.
Mark St Cab Ry (closed) mtge 1
$3,525,000 $11,750,000 $1,175,000 $2,350,000 $4,700,000
Percent 1
15%
50%
5%
10%
20%
Per $1,000 bond
$150
$500
$50
$1J0
$200
(c) Exchange of $46,613,600 Junior Securities.—The holders of United
Railroads 7% notes, $1,925,000: 6% notes, $740,000: 5% notes, $1,000,000:
Pref. stock, $5,000,000; 2d Pref. stock, $20,000,000; Common stock. $17,948 600; an aggregate par value of $46,613,600 [largely owned by California
Ry.' & Power Co.—Ed.] will receive:
Preferred Stock.
2d Pref. Stock.
Common Stock.
Total.
$3,825,000
$2,350,000.
$6,000,000
$12,175,000
N.
on any
Interest.
1912
6 J-J
60.000
See
text.
Int. at Anglo-Cal. Tr. Co., San Fran., trus¬
tee, or E. H. Rollins & Sons, New York.
1894
5 g M-S
7.016,000 Sept 1 1924
at
Divisional Bonds.—
Tn aggregate
Madison & Sutro of San
Red
Street Ry consol M
(closed at $14,007,000)__
g
follows:
Market
Dale.
$300,000
102 H
int date
notes
Market
(a) Refunding Underlying Bonds.—The said 6% notes, $5,200,000, to¬
gether with $520,000 in cash, will be exchanged for or used to acquire the
following matured underlying bonds to a like aggregate amount, viz.:
Market St. Cable Ry. Co.Sl,800,0001 Omnibus Cable Co
$2,000,000
Ferries & Cliff House Ry .Co.$400,0001 Sutter Street Ry. Co
1,000,000
(b) Exchange Offered United RR. 4s.—The holders of United Railroads
other securities
135
mortgage $2,000,000 ($500
Dale.
Gatos
Interest.
.......
1903
Interest
Interurban Ry. (V.
Outstanding.
76,
Maturity.
$12,000,000
500,000 May 21 1923
Trust Co., San Fran-
5 M-N21
at Central
&
•
$1,000)
c*tfj
cLsco, Trustee.
Bonds.—A sinking fund of 2% of net earnings, but not less than
$10,000
per annum,
began Jan. 1 1905.
EARNINGS.—For year ending Dec. 31:
Gross
Calendar Year—
1918
1917
1916
—
Net (after
Other
Taxes).
$23,148
Income.
Interest,
Rents. &c.
Balance
Earnings.
$298,494
257,178
275,234
20.137
$39,325
34.349
$289,901
274,228
$230,439
238,794
1,085
Deficit.
ROAD.—Operates 65.420 miles of first
16.27
m.
savannah, ga.
main track, 9.648 miles second
turnouts, &c.; total, 80.767 miles.
first main track, leased to Sou. Pac. Co., and 1.26 m.
track and 5.699 miles of sidings,
owns
Also
main
SAVANNAH ELECTRIC COL—A trolley system.
Receivership.—On Dec. 22 1919, Howard C. Foss of Savannah, was ap-
track operated by San Jose RRs,
Serves San Jose, Saratoga, Los Gatos,
Campbell, Cupertino, Monta Vista, Mayfield and Palo Alto, all in Santa
Clara County.
Standard gauge.
60 and 70-lb., mostly T rail.
41 electric
motor cars( including 2 express and 6 work), 2 trail cars and 1 electric
Eointedofreceiver for $3,807 for electrical equip, and supplies; Electric being
older
claim of the co. on application of the General the co.
Co.,.
a
position "in which it was unable to pay its indebtedness or to pay int.
its bonds due Jan. 1, or to borrow additional money necessary for exts.
and impts."
V. 109, p. 2440.
in
locomotive.
Paul Shoup, Los Angeles; Sec. & Aud., H. A.
Los Angeles; Treas., M. S. Wade, Los Angeles; Gen. Mgr..
Chapin, San Jose.—V. 89. p. 104; V. 104. p. 2343.
OFFICERS.—Pres.,
NAPA
FRANCISCO
SAN
&
CALISTOQA
for 1st Consol. Mtge. 5s.—Chairman, Charles Francis Adams;
44 State St.,
Depository: Commonwealth Trust Co., Boston, Mass.
Deposits have been called for.
V. 109, p, 2440.
ORGAN 1ZATION.—Incorporated in Georgia InlDec. 1901 as a consoli¬
dation of the City & Suburban Ry., the Savannah Thunderbolt & Isle of
Hope Ry., Savannah & Isle of Hope Ry. and the Edison Electric Illuminat¬
ing Co.
Does the entire street railway and the greater part of the electriclighting and power business of the city.
The Savannah Power Co. was
Incorporated in Georgia May 3 1912 (capital stock authorized and issued,
$1,000,000), and has built a power station with 13.400 h. p. capacity which
is operated under lease by the Savannah Electric Co. and the latter guaran¬
tees the bonds and notes Issued by the Power Co.
V. 95, p. 1040.
Fran¬
chises for both street railways and electric-lighting plant are perpetual.
Bonds and stock were in July 1902 listed on the Boston Stock Exchange.
Wage Decision by National War Labor Board.—V. 107, p. 2478.
In Feb. 1920 the receiver was auth. to apply to the Ga. R. R. Comm,
for higher rates.
V. 110, p. 563.
STUCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Common $2,500,000 ($100).
$2,500,000
.
Pref $1,000,000 6% n-c ($100)
6 A-0
1,000[000 Oct '07. 3%
1st cons mtge $3,500,000 gold!
1902
5 g J-J
2,147,000
Jan 1 1952
($1,000 and $500)
_e*.tftlnt. at American Trust Co., Boston, trustee.
8av Thun & Isle of IT 1st MJ
1897
4 Q-J
1,000,000 July 1 1947
g (SI .000)$!,250,000.c*ntf lint, at Central Trust Co., New York,trustee.
Committee
Stedman Buttrick,'George C. Lee, Secy., Elbert A. Harvey,
Boston,
RY.
ORGANIZATION.—Incorp. Nov. 10 1911 in California as successor to
the San Fran. Vallejo & Napa Valley RR., sold at foreclosure on Oct. 30
1911.
V. 93. p. 1535.
Also acquired the Vallejo Benicia & Napa Valley
RR.
Has a 20-year traffic agreement with Monticello SS. Co...providing
for daily schedule of at least six round trips between Vallejo and San Fran
Purchases power from Great Western Power Co. under contract expiring
Jan. 1 1922, with privilege of extension for a further period of 10 years
Franchise runs to 1952 or later.
In Dec. 1915 the California RR. Comm. issued an order fixing the repro¬
duction cost of the property, less depreciation, at $1,010,846.
This however
was not accepted by the co.
Fare Increase.—Effective July 1 1918, the co. was auth. by the Cal.
RR. Comm. to abolish all round-trip rates and to Increase the charges on
commutation and school children's tickets 10%.
V. 107, p. 402.
Interest.
Date.
STOCK AND BONDS—
Stock $2.000,000
Outstanding.
$731,700
a
on
Culloden,
F. E.
(Vol. 110.
ELECTRIC RAILWAYS
126
Maturity,
gold ($100.) 1911
6 J-D
556.000 Dec. 1 1936
$500 & $1,000) callable atGnt. at Mercantile Tr. Co., San Franv.Trus.,
105 & int. on any int dayc*l
or at office of E. H. Rollins & Sons, N. Y.
Debentures—unsecured non-1 1911
5%
599,100 Dec. 1 1936
foreclosable $610,000-f
1st M $1,000,000
Mass,
Sav Power
1st M
$2,500,000/ 1912
See text
5 A-0
April 1 1932
(call at 105 and int)
tfi,Commonwealth Trust Co.. Boston, trustee.
payable June 30 1919..
1,416,000
Stock.—The 6% preferred stock is subject to call at 120 at any time.
Bonds.—Of the Savannah Elec. Co. 1st cons, bonds, $1,000,000 are re¬
served to retire a like amount of bonds of the Savannah Thunderbolt & Isle
of Hope Ry.; $353,000 are held in treasury.
Callable in whole (or in part
for sinking fund) at 110 and int. on any interest date.
The company binds
itself to apply at least $20,000 per annum, beginning 1906, towards improve¬
ments or extensions, or in the purchase of bonds.
The remainder unissued
of the Savannah Elec. bonds may be used for new construction and equip¬
ment, at rate of $1,000 bonds for $1,250 in cash spent.
Of the Savannah
Thunderbolt & Isle of Hope Ry. bonds, $250,000 ha|ve been
canceled.
Sinking fund 2% per annum began Jan. 1 1918.
Bonds guar., p. & i., and
sinking fund by Savannah Elec. Co.
$1,250,000 Savannah Power Co.
bonds are outstanding and are deposited as collateral for floating indebted¬
—
g
Bonds.—Remaining $400,000 1st M. bonds are reserved for additions and
extensions at 75% of cost under certain restrictions.
Annual sinking fund
of 1% of bonds out began in 1914.
V. 93, p. 1535.
Notes
EARNINGS.—For years ending Dec. 31:
Calendar Year—
Gross.
Net (aft. tux.)
Int., &c.
Surplus.
$338,704
$132,438
$65,423
$67,014
326,916
164,559
64,667
99,892
ROAD.—Comprises 44.71 miles of track, extending from Vallejo, via
Napa, to Cal istoga, of which 30 miles on private right of way, 12.39 miles
on streets or highways and 2.32 miles sidings.
Standard gauge.
Owns
37 acres of land, iricl. water front in Vallejo.
OFFICERS.—Pres., Jas. Irvine, San Fran.; Sec. & Treas., T. V. Max¬
well, San Fran.; Gen. Mgr., C. E. Brown. Napa.—V. 107, p. 402.
1919
1918
ness.
Dividends.—On pref.
san jose, cal.
SAN JOSE RAILROADS.—A trolley road.
Southern Pacific Co. owns
entire stock except directors' shares.
ORGANIZATION.—Incorp. in California Dec. 23 1909 as successor tc
Co.
V. 90, r>. 1297.
Properties of San Jose & 8anta Clara
County RR, Co. purchased by San Jose RRs. March 15 1912.
In June 1918 applied to the Cal. RR. Comm. for auth. to abandon that
San Jose Ry.
part of its line between Linda
the line on Monterey road.
Vista and Toyon stations and a portion of
Interest.
Outstanding.
$5,000,000
Maturity
$5,000,000 ($100)
—
mtge
$1,500,000
gold/ 1910
5 g J-J
1,361,000 Jan 1 1955
($1,000) sinking fund
tfllnt. at Mercantile Trust Co., S. F., Trustee.
San Jose & Santa Clara Co
1906
AX A-O
1,152,000 April 1 1946
RR 1st & rof M $1,500,000{Int. at Union Trust Co., San Fran., Trustee
Stock
1st
V. 109, p. 2440; V.
1st M. bonds are subject to
following sink, fund provisions, Jan. 1 1915 to
year,
1940-44, inch, $20,000 per yr; 1945-49.
1939, inch, $10,000 per
$30,000 per yr.; 1950-54, $40,000 per yr.; or
to trustee in lieu thereof.
these bonds may be delivered
EARNINGS.—For years ending Dec. 31:
Net.
Other Inc. Int..Rent.,&c. BaL.Def
$43,146
$496
$181,028
$137,387
31,917
210
174,120
141,993
Gross
Year—
1918
$302,426
309,383
-
1917
ROAD.—Owns 24.79 miles first track, 11.75 miles 2d track, 2.02 miles
sidings and turnouts; total, 38.56 miles; serving cities of San Jose and
Santa Clara and country adjacent thereto
Standard gauge.
46 electric
motor and 13 trailer cars; 3 automobiles for passenger service.
OFFICERS.—Pres.
Wm. F. Herrin; V.-P., Paul Shoup; Sec. & Aud.
H. A. Culloden; Troas., M. S. Wade; Gen. Mgr., F
E. Chapin.—V. 90,
1297; V. 92. p. 1033; V. 104, p. 560; V.
p.
santa
COAST COUNTIES OAS &
cruz,
107, p. 604.
cal.
ELECTRIC CO.
ORGANIZATION.—Organized in California on Mar. 20 1912 and has ac¬
quired the Coast Counties Light & Pow. Co., Big Creek Light & Pow. Co
Power Co. and Gilray Gas Works; also the entire
capital stock of the Union Trac. Co. (Santa Cruz).
Franchises in munici¬
palities perpetual: county franchises on highways until 1946 to 1959
and San Benito Light &
Interest.
Date.
STOCK AND BONDS—
Common $2,000,000
Outstanding.
$1,000,000
—__
pref $1,000,000 6% cum..
Pref $1,000,000 6% cum.
Coast Counties L & P 1st Mf
Maturity
...
Quar.
,
158,600
See text
Quar.
1st
1,000.000
See text
5 g F-A
1906
885,000 Aug
1
1946
$1,000,000 g ($l,000)_c*tUlnt. at Mercantile Tr. Co
San Fr., Trustee.
Big Crk Lt&Pow lstM$339,000 tf—
4%
286,000 May 1 1947
San Ben Lt&Pow lstM$150.000 tf—
6%
143,000 Sept 1 1950
Bonds.—Of the Coast Counties Lt.&Pow. bonds, $115,000 are held
Callable 107and int. on any int. day.
skg. fd.
in
Annual cum. skg. fd.
of 1% of bonds out. began June 30 1911.
V. 95. p. 681. Sink. fd. on Big
Creek Lt. & P. bonds, $3,600 per ann. began Mar. 30 1908; $53,000 bonds
and
$2,000 cash in sinking fund.
Sinking fund on San Benito Light &
% of bonds out, began June 30 1915.
$7,000 bonds and
Power bonds of 1
$920 cash in fund.
Dividends.—6% per annum is being paid on first preferred
stock.
EARNINGS.—For years end. Dec. 31 (not incl. Union. Trac. Co.):
Year—
Gross.
Net (aft.Tax.). Int., &c.
Deprec'n.
Surplus.
$523,184
$214,152
$84,457
$51,054
$78,641
440,332
143,957
~89,073
38,395
16,488
Property.—Has one hydro-electric and two steam plants; combined
capacity, 3,346 h. p.; 75 miles transmission lines and 541 miles distribution
lines.
Gas plants In Santa Cruz.. Watsonville, Hollister and Gilray.
OFFICERS.—Pres. & Gen. Mgr., S. Waldo Coleman;
V.-P., R. M.
Hotaling; Sec. & Treas., L. W. Pryor.—V. 95, p. 681; V. 101. p. 614.
1919
1918
a
Union Traction Co.—Controlled by the Coast Counties Gas & Elec. Co.
At a meeting of the bondholders pf the Union Traction Co. in Aug. 1915
bondholders' protective committee was appointed to investigate the con¬
dition of that
holders
corporation.
have signed
an
V. 101, p. 616, 846.
A majority of the bond¬
without surrender of any foreclosure
be managed as heretofore and cou¬
One coupon was paid Sept. 30 1919.
agreement,
rights, to the effect that pronerty is to
pons to
Fare
be paid as earned.
Increase.—In
Aug.
1918
was
auth. by the Calif.
RR. Comm. to
6-cent fare in Santa Cruz and on the lines between that city
Twin Lakes and between Twin Lakes and Capitola.
V. 107, p. 803.
charge
a
and
Interest.
Outstanding.
Maturity.
1905
5%
631,000 Feb 1 1935
000 gold ($l,000).c&r ntfllnt. at Union Tr. Co.. San Fran., Trustee.
The bonds have a skg. fund from 1910 to 1915
of H% of bonds
out.; from 1915 to 1920 1% of bonds out., and from 1920 to maturity 2%
of bonds out; said fund to be used to redeem the bonds,.
Are subject to
call at 110 and int.
$100,000 bonds are reserved for betterments and
extensions.
$19,000 have been retired.
BONDS—
scranton, pa.
A
& WILKES-BARRE
holding company.
TRACTION CORPORATION.—
ORGANIZATION.—-Incorp. in Virginia in 1913 as a
reorganization (per
plan V. 96, p. 1701) of the Lack. & Wyorn. Valley Rapid Transit Co. (sold
foreclosure), which company owned all the securities of the Lackawanna
& Wyoming Valley RII., the Scranton & Northeastern ItR., the Lacka¬
wanna Tunnel Co.
the Central Valley RR. and the Wilkes-Barre RR.
These latter five companies were merged into the Lack. & Wyom. Valley
RR. Co. (the operating company) with $1,850,000 stock and $5,000,000
bonds, all of which is owned by the Scranton & Wilkes-Barre Trac. Corp.
and deposited under that company's refunding mtge., subject to $888,000
L. & W. V. Rapid Transit coll. trust bonds.
The Railroad Co. owns all the
stock of the Lack. & Wyom. Valley Pow. Co.
Power franchises perpetual.
at
Sinking Fund and Redemption Plan.—The plan for a sink, fund ($15,000
ann.) and the establishment of a call price of 105 and in1;. for the Lacka.
Val. Rap. Tr. Co. coll. truso 5% bonds of 1901 became effective
Nov. 8 1917.
V. lOo, p. 2094.
Maturity.
Outstanding.
Date.
Interest.
STOCK AND BONDS
$1,500,000
Common $1,500,000
_.—
See text
790,000
See text
Pref cum $1,000,000
5%
858,000 Aug 1 1951
L& W V Rap Tr Co coll trust/ 1901
5% gold bonds
c*tf [Int. at Guaranty Trust Co., N. Y., trustee.
1913
5%
2.064,000
Aug 1951
Refunding mtge (see text) g
Trust Go., New - York, trustee.
($1.000)
~c*tf Guaranty rft.
1914
6 g A-O
954,000
Apr 1 1934
oil trust sink fund gold bds
per
& Wyo.
c*)Guaranty Trust Co.. New York, trustee.
until June 30 1917 and 7% there¬
1914.
Pref. stock is red. at 105 three
years after its issue.
Pref. and com. have equal voting power.
Bonds.—Refuhding mtge. bonds are callable at 105 and int.; sinking fund
of Yi% oer annum of outstanding bonds began Nov. 1 1917; $858,000'
are reserved to retire
underlying bonds.
The mortgage was authorized
originally for $5,000,000, but was subsequently closed at $3,000,000.
The
L. & W. V. Rapid Transit Co. 5% bonds are secured by deposit of $1,850,000 stock and $5,000,000 1st M. 5s, due 1951, of the Lack. & Wyom. Valley
RR. Co.
Under a supplemental indenture, dated Nov. 1 1917, a sinking
fund of $15,000 per annum which began May 1918 was created and the
bonds were made subject to call at 105 and int.
$30,000 in sinking fund.
V. 105, p. 2094.
As of April 1 1920 all but about $24,000 of the bonds
had been stamped bv the trustee with the callable feature skg. fd. agreement.
V.
05, p. 2455.
The coll. trust 6s of 1914 are red. at any int. period at 100
and accrued int.
Sinking fund (cumulative) of 1% of outstanding bonds
annually from March 1 1916 to March 1 1933.
These bonds are secured by
the same collateral as the first and refunding mortgage.
V. 98, p. 1246.
Dividends.—6% was paid on preferred stock from July 1913 to an incl.
April 1917. In July 1917 began paying 7% and same rate has been paid
$1,000,000
($1.000)
Slock.—Divs. on pref. 6% per annum
after.
Cumulative from June 30
.
.
regularly since.
EARNINGS.—Years ending Dec. 31;
Bond
Balance,
Pref.
Cal.
Operating Other Inc. Exp. &
Divs.
Interest.
Surplus.
(Hold.Co.). Taxes.
Year— Income
$138,680
$55,738
$208,750
$9,865
$214
1919 -..$412,819
40,707
53,025
209,500
461
7,472
1918... 310,243
46.846
43,399
210.000
5,869
626
1917... 305,489
ROAD.—Lackawanna & Wyom. Vail. RR. operates 22.75 miles of first
track, 20.74 miles of second track and 8.61 miles of yard track and sidings.
Double track, laid with 90-lb. rail.
Standard steamiconstruction, private
right of wav.
A standard-gauge tunnel, about 5.000 feet long, was com¬
pleted in Scranton in Oct. 1905.
This removed the only heavy grade on
the line between Scranton and Wilkes-Barre.
27 passenger, 72 freight cars,
4 motor express cars, 1 motor work car and 2 electric freight locomotives.
Freight and passenger business is exchanged with all railroads entering the
terminal cities.
OFFICERS.—Pres.. Wm. C. Sproul:
Chairman Exec. Comm.. Frank R.
Lippincott; V.-P. & Sec., S. C. Stivers; Treas., F. W.
1158, 1246, 1539; V. 101, p. 1190; V. 105, p. 910, 1309.
Ford; V.-P., W. II.
Potts.—V. 98, p.
2094.
\
Date.
Union Trac Co 1st M $750,-f
ROAD.—Operates 18 miles of track in Santa Cruz
Standard gauge.—V. 101, p. 616, 846; V. 107, p. 803.
Asst. Sec., Geo. A. Pierce,
Assn.—V. 108, p. 80, 2027;
110, p. 563.
SCRANTON
Bonds.—The San Jose & Santa Clara Co. RR. bonds are subject to call
atllOandlnt. Sinking fund of 1 % of outstanding bonds began Apr. 1 1911.
Pres., Geo. J. Bald¬
H. Hunt; Treas., Henry B.
OFFICERS.—Chairman of Bd., Wm. W. Osborne;
win; V.-J's., Chas. W. Wetterer and Harry
Sawyer; Sec., Lionel E. Drew, Savannah;
Boston; Gen. Mgrs., Stone & Webster Mgt.
($1,000) gold-._ —
,,
Bal.,Sur.
and 17 other cars.
Date.
STOCK AND BONDS—
None
1918-19___..$1,300,887
$263,333
$.291,248
def.$27,915
1917-18
1,071,437
352,082
275,909
76,173
ROAD.—Operates
64.9 miles of single track.
In Sept. 1917 received
auth. to extend its line co Port Wentworth.
Construction has been begun.
Gauge, 5 feet.
Power stations nave 12,300 k.w. capacity.
80 passenger
to in¬
1918 was auth. by the Cal. RR. Comm.
fares from 5 cents to 6 cents.
V. 107. p. 604.
Fare Increase.—In Aug.
crease
stock 1902 to 1907, incl., 6% per annum.
EARNINGS.—For the 12 months ending June 30:
Year—
Gross.
Net (aft. Tax.).
Interest. Sink.Fund.
,
and to Capitola
UTILITIES CO.—A holding company
ORGANIZATION.—Incorp. in Del. Nov. 24,1916.
Controls the
Hanover Light, Heat & Power Co., Hanover & McSherrystown St. Ry. Co.
(see this co.), Gettysburg Electric Co., DuBois Electric Co., DuBois Trac¬
tion Co. (see this co.). Susquehanna County Light & Power Co.
These companies do the electric light, power and part street railway busi¬
ness in Hanover, Gettysburg, DuBois, Montrose, Susquehanna. New Milford and other communities in York, Adams, Susquehanna and Clearfield
counties. Pa.
The properties are operated by the United Service Co.
KEYSTONE
APE., 1920. |
ELECTRIC RAILWAYS
127
Brooks & Co., Scranton, in Dec. 1916 offered the unsold portion of the
SHEBOYGAN, WIS.
fl.225,000 1st & consol. 5s at 91H and int., with 50% allotment of stock.
V. 103. p. 2341.
STOCK AND BONDS—
Stock $5,000,000 ($50).
Interest.
Date.
Outstanding.
Maturity.
$1,500,000
1st & consol M $7,500,000 gT 1916
5 g F-A
1,225.000 Nov 1 1941
($200, $500 and $1,000)-C*JInterest at Scranton Trust Co.. trustee.
Bonds.—Secured by pledge of the capital stocks, contracts and other
securities of the underlying cos.; also by lien on other property of the co..
Incl. impts. to be made shortly with part of ithe proceeds of present issue.
Sufficient bonds reserved
to retire certain underlying liens which in amount
less than the present issue.
No bonds to be issued for more than 87 H %
of total expenditures, nor unless annual net earnings of the combined prop¬
are
erties
are
102
and int. in whole
1H times the interest charge, Incl. bonds to be Issued.
or
Red. at
part to Nov. 11931 and at 105 and int. thereafter.
PROPERTY.—System includes 4 electric generating stations (aggregat¬
ing 8,500 h. p. capacity); a hydro-electric system at Susquehanna, Pa., ca¬
pacity 600 h. p.; 75 miles of high-tension transmission lines, connected with
local distributing lines; 20 miles of street railway trackage, cars. &c.
OFFICERS.—Pres., Frederick J. Piatt; V.-P., E. J. Lynett.—V. 103,
2341.
p.
•
,
WISCONSIN
ELECTRIC CO.
Omro.
Power
is
also
sold
in
Plymouth,
Elkhart
Lake
and
Sheboygan
Falls.
Franchises.—Operates under indeterminate permits as provided
by Wise. P. U. Law, and is thus protected from competition.
Fare Increases.—In April 1918 was auth. by the Wisconsin RR. Comm.
to eliminate all fares of less than 5 cents, and in Aug. 1918 a
general in¬
crease in interurban fares was granted.
In Sept. 1918 the ticket rate
between Sheboygan and Elkhart Lake was increased from 1.9 to 2.9 cents
per mile. V. 10?, p. 1100.
On Aug. 10 1919 was auth. by the Wis. RR.
Comm. to increase cash fares on the Oshkosh City line to 7 cents, 6 tickets
be sold for 35 cents and 50-ticket books for $2 50.
to
V. 169, p. 981.
Rate Increase.—Was auth. by the Wise. RR. Comm. to make a surcharge
of ]A cent per k. w. h. on all lighting and power business, effective May 1 '18.
In Aug. 1918 was auth. to increase gas rates
27H cents per 1,000 cu. ft.
STOCK AND BONDS—
Common stock, $2,000,000
WASH.
SEATTLE,
EASTERN
ORGANIZATION.—Incorp. Feb. 21 1917 to take over the properties
of the Sheboygan Electric Co., the Eastern Wisconsin
Ry. & Light Co. and
the Wisconsin Electric Ry. (See "Elec. Ry." Section for Jan.
1917).
Owns
and operates the electric-lighting, power and street
railway systems in She¬
boygan and Fond du Lac, gas in Fond du Lac, street railway in Oshkosh
and about 70 miles of interurban lines connecting Sheboygan and Elkhart
Lake. Fond du Lac and Oshkosh. Oshkosh and Neenah, and Oshkosh and
TRACTION. LIGHT & POWER CO.
City Purchase.—In April 1919 S15.000.000 5% utility bonds of the city
of Seattle were delivered to the co. and the co.'s street railway property,
within the city limits, was conveyed to the city which now owns and operates
same.
The bonds have been deposited with the trustees of the mortgages
Date.
Interest.
Outstanding.
Maturity.
$700,000
1,200,000 Mar '20.1%
-
Pref stock, 7%, $5.000,000
1st & ret M $20,000,000
Gen M notes, Ser "A",
PUGET
SOUND
securing certain of the co.'s bonds and notes in substitution for the property
sold.
They are a charge upon the gross earnings of the entire railway sys¬
tem of the city, superior to all charges except interest and amortization of
some $650,000 of prior bonds of a like character.
V. 108, p. 1391, 2630;
V. 109, p. 371; V. 110, pi 971.
In Mar. 1920 it was voted to change the
name of the company to Puget Sound Power & Light Co.
V. 110, p. 1290.
For steps leading up to purchase by the city see the "Electric Railway"
Section of Mar. 29 1919.
For history of co. see "Electric Railway" Supple¬
ment of Sept. 29 1918.
SEATTLE
M
& RAINIER VALLEY RY.
Possible Purchase by City.—In connection
the city lines
with the proposed purchase of
of the Puget Sound Trac., Lt. & Pow. Co. the city officials
consolidated purchase the city lines
glan to lease or and operated as one. Seeof this company,1385. and V. 108,
both systems to
also V. 107, p.
e
p. 2331.
On Dec. 1 1919 the company was requested by the Seattle City
Council to submit in writing, within 00 days, an offer of sale.
Accordingly
Pres. M. E. Sampsell offered to sell the company's entire railway property
to the city for the sum of $1,056,766 plus such expenditures for additions
and
improvements as
be made from Dec. 1 1919 to date of sale.
may
The
company has expressed its willingness to accept in payment from the city,
utility bonds, similar to those used in the purchase [see above] of the
Puget Sound Traction, Light & Power Co. properties.
V. 110, p. 79,1291.
at par,
ORGANIZATION.—Incorp. in Del on June 8 1916 as successor to the
Southern Ry., which was bid in at foreclosure sale on
May 12 1916 by Attorney John C. Higgins, representing the bondholders
(there were $825,000 1st 5s outstanding) and common claimants under the
plan of reorganization. V. 102, p. 2078.
In Apr. 1917 reached a settlement with city over franchise difficulties
and co. was awarded a judgment of $41,700 against city because of changes
Seattle Renton &
in grades on Rainier Ave., &c.
Fares.—On May 23 1919 was auth. by the Wash. P. U. Comm. to in¬
fares in Seattle from 5 to 6 cents with a 2-cent charge for transfers,
effective June 1 1919. V. 108, p. 2331.
Compare V. 108, p. 1276.
crease
Has $250,000 com. stock and $110,000 pref. stock (par $100) auth.
•utstanding.
Also has outstanding $118,000 6% 1st M.
5% Gen. M. bonds and $400,000 6% Income M. bonds.
EARNINGS.—For
$98,267.
ending
year
Dec.
31
1919,
and
bonds, $577,500
gross,
$426,206;
net,
In 1918, grass, $350,127; net, $86,959.
ROAD.—24.863 miles of track, from Seattle via Columbia City and
Dunlap to Renton.
Rails, 60, 70 and 75-lb. T.
Standard gauge.
34
passenger cars, 19 freight cars and 1 locomotive.
OFFICERS.—Pres., Marshall E. Sampsell. Chicago; V.-P., E. M. Mills;
Gen. Mgr., Walter Brown; Treas., Edgar W. Peck; Sec., Henry M. Brooks.
—V. 107, p. 1385; V. 108, p. 380, 785,1276, 2331; V. 110, p. 79,1291.
g\ 1917
5 g M-S
1,084,500 Mar 11947
j Interest uayable in Milwaukee or N. Y.
($100,\ 1920
M-S 7
1,200,000 Mar 11923
$500 & $1,000) gold_c*t.f--/Int. at Cont'l. & Comm. Tr.& S.Bk.,Chic.
Underlying Liens—
Fond du Lao
tRy&Lmtge\ 1899
5 g J-J
133,500 July 11924
$250,000 ($500) g.r&c*ntf/
Int. at Nat. Exch. Bank, Milwaukee.
($500 & $l,000)c*
East Wise Ry & Lt 1st M
g( 1903
5 g A-O
1,182,000 Oct 1 1923
($1,000)
c*tf J Int. at First Sav. & Tr. Co., Milw., Trustee.
Sheboygan Elec ref&imptM, I 1916
5 g J-J
1,580.500 July 11946
g ($1,000 & $500)
c*tf\ Interest payable in Milwaukee or N. Y.
Sheb Ry & Electric
5%
101,500
1926
—
—
TRACTION
1940; 2% 1941 to 1945; to be used for retirement of bonds or for extensions
Trustee, Wisconsin Trust Co.. Milwaukee.
and additions.
Notes.—The 3-year 7% notes due Mar. 1 1923 are secured by a general
mortgage on the entire property.
Additional notes may be issued under
certain restrictions.
Red..all or in part on any interest date upon 4 weeks'
notice at 100 and int.
Dividends.—Divs.
V. 110, p. 1186,1289.
Sate.—In
May 1919 it
Pa., is President.
108, p. 2242.
ORGANIZATION.—Organized in Mar. 1918 to take over and operate
properties of the Selma Street & Suburban Ry., sold at foreclosure
March 14 1918.
Dale.
Common $10,000 ($100)
First mtge $50,000 ($1,000)/
Interest.
Outstanding.
Maturity.
None
;«
1918
5 g M-S 15
$50,000 Mar 14 1948
gold
c*&r[D. L. Gerould, Trustee.
Second mtge $25,000 ($1,000)/ 1918
5 g M-S 15
25,000 Mar 14 1938
gold
_._c*&r\C. B. Ayers, Trustee.
Bonds.—Have no sinking fund jprovision an(j are not subject to call.
PROPERTY—Gas plant and 42 miles of gas mains in Fond du Lac,
electric-distribution system and 3 electric-generating plants, combined
capacity of 6.500 h. p. in Sheboygan. Fond du Lac and Oshkosh; street rail¬
way and interurban lines over 100 miles of single track.
The greater part
of the interurban lines is laid chiefly with 70-lb. T rails, and with the
excep¬
tion of that portion from Oshkosh to Neenah and within city limits is located
on private right of way.
Additional 5,000 k.w. steam turbine unit is to be
Installed, and high-tension transmission lines will be built immediately.
Also hydro-electric power sites on the Wisconsin and Wolf Rivers capable
of estimated development of over 20,000 h.p.
A gas plant at Fond du Lac
with a 500,000 cu. ft. holder was placed in operation in 1918.
OFFICERS.—Pres., Joseph IT. Brewer; V.-P., H. R. Ellis; Treas.,
Willis J. Ripley; Sec., Blaine Gavett.
Under management of Kelsey,
Brewer & Co.. Grand Rapids. Mich.—V. 104, p. 1145; V. 106. p. 924, 1688,
2122; V. 107, p, 1100, 1192; V. 109, p. 981; V. 110, p. 1186, 1289.
a
OFFICERS.—Pres.
MaUory.—V. 106,
p.
&
Gen.
Mgr., J. D.
1462; V. 108, p. 2242.
Woodard;
Sec.-Treas., Hugh
Eur chased the Highland Park Trac. Co. and the Shreveport City Suburban
;y.
Owns and operates entire street railway system in city of Shreveport.
SHAMOKIN, PA.
&
1912 all franchises of the company were extended until
are free from burdensome restrictions.
city passed an ordinance (upheld by the U. S. Supreme Court)
273.
1917
increased fares between
Shamokin, Kulp-
mont, Mt. Carmel, Centralia and Ashland from 5 to 6 cents.
In June 1918
was ordered by the Penn. P.
S. Comm. to furnish excess payment slips
pending the outcome of a hearing on these rates. V. 106, p. 2650.
In
Mar. 1920 this case was still pending.
On Sept. 26 1919 the company
raised fares to 7 cents with no opposition.
STOCK AND BONDS—
$700,000-
Interest.
Dale.
—
Pref $300,000 6% non-cum
— —
J
New mortgage $600,000
Outstanding.
$529,750
261,850
415,000
5%
1906
All franchises
In 1919 the
requiring the company to put both a motorman and conductor on its cars,
an attempt of the company to operate the cars with only a motor-
following
man.
V.
109,
Date.
1906
-
Interest.
—
for
improvements,
(V. 99, p. 199).
Maturity.
$500.000,--
300.000
12
mos.
1926
Y., trustee.
ending Dec. 31 1917, gross, $51,645; net,
$9,414.
In 1916, gross. $49,918; net, after taxes, $1,798.
ROAD.—Operates 12 miles of track in Shawnee and between Shawnee and
Tecumseh.
Standard gauge.
60 and 70-lb. T rail.
OFFICERS.—Pres. & Treas., Louis K. Hyde;
Sec., W, M. Cutlip;
Mgr., R.
D. Long.
additions,
extensions,
&c., under certain restrictions
,
Dec. 31:
Net.
$447,555
$152,471
322,775
102,320
REPORT.—For years ending
Year—
Gross.
1919---
1918--
-—--
—
—
-
-
ROAD, &c.—Operates about 32 miles of
Interest.
Surplus.
$107,901
56.454
$44,570
45,866
track; 60, 70 and 80-lb. rail.
its own power plant.
15 single truck and 24 double
1 work car and 2 miscel. cars.—V. 109, p. 2357.
1936
Outstanding.
(SI ,000) gold-c*(lnt. at Equitable Trust Co., N.
Bonds.—Can be called in 1916 at 105.
No sinking fund.
EARNINGS.—For
See text
(par $1,000 except $100,000 of $500 bonds and $80,000 of $100
1944); $5,000 1925 to 1937; $15,000 1938 to 1942; $20,000
1943, and 82,040,000 in 1944.
$20,000 redeemed to April 1 1920.
These
remaining $2,200,000 bonds may be certified and issued from timi to time
Owns and operates
OKLA.
5 g J-D
Maturity.
780.000
truck passenger cars;
SHAWNEE-TECUMSEH TRACTION CO.
ORGANIZATION.—Incorporated in Oklahoma on
Feb. 13 1906.
Franchises are perpetual and exclusive for 25 years.
Fares.—The co. has applied for auth. to increase fares from 5 to 7 cents
on city lines and from 15 to 21 cents on the interurban line.
STOCK AND BONDS—
Outstanding.
5 g J-J
bonds due in
Maturity.
ROAD.—-Operates 19.5 miles of track between Ashland and Shamokin.
OFFICERS.—Pres., E. W. Samuel, Mt. Carmel, Pa.; Sec., J. D. McCormill; Treas., Wm. Reefer, Mt. Carmel; Supt., A. Howard Thomas,
Shamokin.—V. 105, p. 2457; V. 106. p. 2650.
Stock $500,000 ($100)---First
mortgage
$1,000,000/
Interest.
$1,000,000
1914
($100. $500 & 81,000) c*tf'Int. at Hibernia Bk. & Tr. Co., N. O.. trust.
at 103 and interest.
The $800,000 bonds issued
mature
in
annual
installments
as
follows
(par
value
$1,000,; ex¬
[Penn. Co. for Ins. on L. & G. A., Phiia., trus.
$197,339; net, after
In 1918, grdfcs, $216,579: net, after taxes, $55,415.
SHAWNEE,
Date.
$3,000,000/
Bonds —Redeemable
EARNINGS.—For year ending Dec. 31 1919, gross,
taxes, $70,651.
2357.
p.
STOCK AND BONDS—
Stock $2,000,0001st M ser gold bds
follows
MTV CARMEL TRANSIT CO.
Increase.—In Dec.
1954.
cept for $50,000 of $500 bonds and $20,000 of $100 bonds due in 1944);
810,000 1918 and 1919; $15,000 1920 and 1921; $20,000 1922 to 1927;
$25,000 1928 to 1932; $30,000 1933 to 1937; $25,000 1938 to 1942; $20,000
1943; $210,000 1944.
The remaining $2,200,000 will fall due annually as
ORGANIZATION.—Is a consolidation In July 1906 of the Shamokin &
Mt. Carmel Electric Ry. and the Ashland & Centralia Electric Ry.
V. 83,
Common
ORGANIZATION.—Successor of the Shreveport Traction Co., the francnises and properties of which company were purchased in July 1914 by the
Shreveport Railways Co.
Shreveport Trac. Co., in turn, succeeded tbe
Shreveport Belt Ry. Co. and Shreveport City RR., chartered in 1870, and
_
little over 8 miles of track in and around Selma.
laid with 40, 56 and 116-lb. T rail.
Standard gauge.
ROAD.—Operates
Fare
12
Franchises.—In
STOCK AND BONDS.—
p.
companies for
31 1920, gross, $1,228,419; net, after maint. & taxes,
$463,797; int. charges, $288,000; bal., surplus, $175,797.
SHREVEPORT, LA.
the
SHAMOKIN
of consolidated
statement
months ending Jan.
SHREVEPORT RAILWAYS CO.
reported that the co.'s road had been sold
which D. L. Gerould, War¬
No further information.
was
V.
pref. stock were begun in June 1917.
on
EARNINGS.—Combined
COMPANY.
under foreclosure to the Selma Electric Ry., of
ren,
—_
BONDS.—$2,997,500 East. Wise. Elec. Co. 1st & ref. M. 5% bonds are
reserved to retire prior liens.
Additional bonds may be issued for 75% of
the actual cost of permanent additions and improvements under conservative
restrictions.
Callable at 105 and int. on Mar. 1 1922 or any int. date there¬
after.
Sinking fund : 1% per ann. of bonds outstanding in 1922 to 1931;
1H % 1932 to 1941; 2% 1942 to 1946; to be used for retirement of bonds or
for exts. and addns. against which no additional bonds may be issued.
Trustee, Wisconsin Trust Co.. Milwaukee.
V. 104, p. 1145.
The Eastern Wise. Ry. & Lt. Co. 1st 5s are red. on any int. date at 103
and int. on 6 months' notice.
The Sheboygan Elec. ref. & impt. 5s are
callable at 105 and Int. on July 1 1921 or any int. date thereafter.
Sinking
fund 1% per ann. of bonds otstanding from 1920 to 1930;
1 y2% 1931 to
SELMA, ALA.
SELMA
Q-M
SIOUX
SIOUX
CITY
SERVICE
CITY, IOWA.
CO.
ORGANIZATION, &C.—Incorporated on June 7 1905 In New Jersey
In March 1909 increased capital from $250,000 to1 $2,000,000, in order to
acquire stock of Sioux City Traction Co.
V. 88, p. 1129.
Franchises,of the
Sioux City St. Ry. (succeeded by Sioux City Traction) run for 50 years from
1889; other franchises run for 2.5 years from 1908.
These latter are on the
terms of 5-cent fares with transfers and 2% of gross earnings after the city
has a population of 75,000.
•
Operates all street railway lines in Sioux City, and sells electricity and
J
.
steam
beat
,,
,
^
.
..
for commercial purposes
In July 1919 the company issued 1st & ref. /now first) mtge. 5s, $750,000.
being used to retire a like amount of Sioux City Traction 1st mtge. 5s, and
the remainder to reimburse the company for improvements and betterments
already made.
V. 109, p. 73.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity
—$2,000,000
.
5 J-J
2.181.000 Jan 1 1928
($1,000) gold
c*tf I Illinois Trust & Sav. Bank, Cbicagoy trustee.
Bonds.—$2,629,000 are for additions and improvements at 75% of cost,
and $190,000 have been retired.
Red. at 105 and int. ori any int. elate
upon four weeks' notice.
Sinking fund begap in 1913, which by 1928 will
aggregate $1,200,000.
Interest payable in New York and Chicago.
V. 90,
Stock $2,000.000 ($100)First & ref mtge $5,000,000/
p.
1555; V. 109, p. 73.
—
1910
ELECTRIC
128
Latest
Earnings.—For cal. year
1919, gross, 51,302,290; net,
ROAD.—Operates over 51 miles of track (of which 7
right of way).
60 and 80-lb. rails.
116 cars.
OFFICERS.—Pres
Robt. J. Dunham: V.-P,, H. A.
.
Treas., J. H. Ricker; Gen. Mgr., E. L.
south
miles on private
Chatham- See
&
Kirk.—V. 99. p. 610; V. 109, p. 73.
spokane,
SPOKANE
ORGANIZATION.—Incorporated in Indiana in Jan. 1907 as successor
to the Northern Indiana Ry., which had consolidated the Indiana Ry., the
South Bend La Porte & Michigan City Ity., the Michigan City Electric Co.
and the M ichigan City Traction Co.
Franchise perpetual in Mishawaka
Goshen, South Bend, La Porte and Michigan City; in Elkhart expires in
1957.
Operates all local electric lines in above cities and the interurban
line joining them.
,
the co. that it would
and that plans for a reorganization
protective committee was formed:
Committee for 1st M. 30-Year 5s.—Chairman. Geo. C. Van Tuyl Jr.;
L. H. Gethoefer, David Taylor, Wm. H. Pritchard, Frank Coenen and
Jas. F. McNamara, Sec., 60 Wall St., N.Y. City.
Depositary: Metro¬
politan Trust Co., N. Y. City.
V. 107, p. 291.
The committee has called
for deposits of bonds and as Of July 17 1918 issued a statement stating
that a considerable amount of bonds had already been deposited and urging
those who had not yet deposited to do so, especially in view of the fact
that default had also occurred in payment of Interest upon underlying
Default—Committee —Upon the announcement by
be unable to paTr the int. due July 1 1918
were under consideration the following
bonds.
V. 107, p. 603.
Fares.—On April 5 191J was
auth. by the Indiana P. 8. Comm. to increase
fares from 2K to 2% cents per mile.
Compare V. 108, p. 378.
passenger
Outstanding.
Interest.
Date.
STOCK AND BONDS—
Pref
($100) after Jan 1
Maturity
$5,000,000
2,500,000
$5,000,000 ($100).
$2,500,000
5%
cum)
Common
1909---}
Jan 1 1937
5 g J-J
2,489,000
rntge $5,000.0001 1907
($1,000)
tf Int. at Central Trust Co., N. Y., trustee.
1906
5 g J-J
588,000
Jan 1 1936
Nor Ind Ry 1st cons M $4,000.000 gold ($1.000)-.-tf Int. at U. S. Mtge. & Trust Co., New York.
1901
5 g J-J
1,000,000
Jan 1 1930
Indiana Railway first mort¬
gage $1,000,000 gold ($1.~ Girard Trust Co., Philadelphia, trustee.
000)
c*tf Interest at Standard Trust Co.. New York.
5 g J-J
La Porte & Michigan City Trf 1905
312,500 July 1 1930
first mtge $350,000 ($500)] Interest at
First Trust & Savings Bank
New
first
gold
calLtf'
Chicago, HI.
sinking fund of $10,000 per annum
Are not subject to
°all.
See V. 82, p. 568.
On the La Porte & Michigan City Traction Co. bonds a sinking fund of 1 %
per annum of bonds out is operative from 1910 to 1914; from 1915 to ma¬
turity, 2% per annum.
Of the new first mortgage bonds, $491,000 are in
treasury, $1,900,500 are reserved to retire prior liens, and $118,500 for
Binking fund subj to
Bonds.—On the Indiana Ry. 1st 5s a
egan
Jan. 1 1905: bonds to be bought in open market.
Northern Indiana 1st consols are subject to call.
improvements.
The Indiana Ry. 2d M. 5% bonds, due Aug.
on
Feb. 1 1917 at 105 and interest.
1 1924, were called for pay¬
ment
EARNINGS.—For years ending Dec. 31:
Net.
Oth.Inc.
Taxes.
Interest.
Deficit.
$208,148
$32,950 $233,511
$58,314
220,361 |$395
34,722
227,489
41,<55
ROAD.—Operates 119 miles of track in South Bend, Mishawaka, Elk¬
hart. Goshen, La Porte, Michigan City and interurban lines between those
$820,218
1918
1917
-.-
.
791.956
1 sub-stations.
roints. Gauge, 4 ft. 8K In.; 70 to 100-lb. T rail.
Owns 109 cars and
OFFICERS.—Pres.. Charles F. Dieterich, New York: 1st
V.-P.. C. M.
Murdock, Lafayette: Treas.. A. E. Dieterich; Sec., S. T. Murdock; Gen.
Mgr., II. R. Sm th; Gen. And., O. A. Small; Purchasing Agent, R. E. Cornwell.—V. 84, p.
270; V. 107,
p.
291, 603; V. 108, p. 378.
RAILWAY—A trolley road.
Is controlled by same Interests as Chic. South Bend. & Northern Indiana
ORGANIZATION.—Organized on Feb. 8 1906 as a consolidation of the
South Bend & Southern Michigan Ry. and the Niles & Buchanan Ry.
Franchise in St. Joseph expires in 1935; in Berrien Springs in 1935; in Niles
In 1932, 1935 and 1930; in South Bend, perpetual.
SOUTHERN
MICHIGAN
Outstanding.
Interest.
Date.
STOCK AND BONDS—
Maturity.
$2,000,000
5 g
400,000 Mar 1 1931
gold ($1,000)
-tfllnt. at U. S. Mtge. & Trust Co., New York,
South Bend & Sou Michigan
1902
5 g A-0
750.000
Oct 1 1927
first
mtge $750,000 gold]Interest at Harris Trust & Savings Bank,
($1,000 guar p & 1)
c*tfl
Chicago, trustee.
Bonds.—Of the $1,980,000 consols, $750,000 are reserved for prior liens
and $750,000 for betterments and extensions.
These bonds are subject to
call on
any int. date at 105.
The following amounts are payable annually
Into a sinking fund from March 1 1909 to Feb. 28 1915; 1% of bonds out¬
standing, from March 1 1915 to Feb. 28 1925, IK % of bonds out; and from
March 1 1925 to Feb. 28 1931,2% of bonds out.
The So. Bend & So. Mich,
bonds are not subj. to call.
$5,000 per ann. is payable into a sinking fund on
these bonds, commencing Jan. 1 1907. See V. 82. p. 1158, and V. 83. p. 493.
Stock $2,000,000-.------First consol mtge $1,980,000/ 1906
EARNINGS.—For 12 months ending Dec. 31:
Year—
Gross.
Net.
Tares.
Surplus.
,
spartanburg.
LIGHT,
POWER
ct
s.
&
RAILWAYS
CO.
ORGANIZATION.—Incorporated in Mass. June 21 1912 as a consolida¬
the Electric Mfg- & Power
and street ry. business in
Spartanburg and the entire electric light and power business in Gaffney,
Cowpens, Woodruff, Blacksburg, Pacolet, Clifton and Converse, S. C.;
also operates an interurban line to Glendale and Clifton, a distance of about
10 miles.
Has the right of eminent domain (confirmed by the State Su¬
preme Court).
Franchises contain, it is stated, no objectionable restric¬
tions and run beyond May 1 1937 or are unlimited as t.r» time.
In Sept. 1918 issued $450,000 3-year notes to pay off floating indebted¬
ness ana for new working capital.
V. 107, p. 1288, 1386.
In 1919 $200,000 additional notes Iwere sold for the same purpos^.
Fare Increase.—In October, 1919, was auth. by the city of Spartenburg
tion of the Spartanburg Ry., Gas & Elec. Co. and
Oo. Does the entire electric light and power, gas
to increase fares from
STOCK AND BONDS—
Date.
Outstanding.
Interest.
Maturity.
$2,500,000
$1,500,000($100)
Q-J
700,000 Apr '20, 1 K
First mortgage sinking fund/
1912
5 g M-N
3.497.000 May 1 1937
$5,000,000 gold..
,.c*tflNew York Trust < o., Now York, trustee.
3-year
notes
$750,000 ($1,-/ 1918
7g Q-M
650,000 June 1 1921
000) gold
c[New York Trust Co., New York, trustee.
Slock.—Preferred stock is preferred as to assets and divs.
Red. at any
time at 115 and accrued dividends.
Tax-exempt in Massachusetts.
Bonds.—Additional bonds may be issued only for the acquisition of
property, extensions, &c., under conservative restrictions.
Of the amount
reported outstanding $155,000 is held in the treasury.
Int. payable In
New York and London.
Denoin. $i,00O (£205 9s. Hd.j.
Sinking fund of
1% of bonds outstanding, to retire bonds or for extensions and additions,
began Nov. 1 1915.
Red. at 105 and int. on any int. date.
V. 96. n. 136.
cum
Notes.—Are red. all or in part on any int. date at 103 in 1918 and 1919,
102 in 1920 and 101 until June 1921.
Interest is payable in New York.
Dividends.—Dividends
at
the
rate
of 6%
per
annum
on
the pref. stock
being paid regularly.
EARNINGS.—For 12 months ending Dec. 31:
are
Cat.
Year—
1919-
Gross
Earnings.
.$692,746
655,776
Net (after
Taxes).
$228,770
316,807
10
Jan.
1919 an order naming F. E. Connors as
filed in the U.S. District Court at Spokane,
petition of the First Trust & Savings Bank of Chicago, trustee for the
$3,688,000 1st & ref. mtge. bonds due May 1 1926.
V. 108, p. 270.
Foreclosure Sale.—On Nov. 1 1919 the co.'s property was bought in at
foreclosure sale by the bondholder's committee named below for $3,600,000.
V. 109, p. 1893.
In Jan. 1920 transfer was made to the Spokane & Eastern
Railway & Power Co. of one of the traction systems in Spokane, the hydro¬
electric station known as the Nine Mile Bridge Plant, the terminal property
in Spokane and the interurban line running from Spokane to Coeur d'Alene
City and Hayden Lake, Idaho.
Transfer of the so-called Inland Division
was made to the Inland Empire RR.
The stocks and bonds of the two
new companies are being held for the present by the protective committee
named below.
For further details see V. 110, p. 563.
The directors of
both companies are; George H. Taylor, Pres.; Albert W. Harris, Chester
Corey, Chester A. Cook, Holmes Forsyth, Chicago; E. D. Adler, John C.
Partridge, Milwaukee; F. E. Connors, Vice-Pres., & Gen. Mgr., and Waldo
G. Paine, Vice-Pres., Spokane, with Elmo Edwards, Sec.
V. 110, p. 1189.
Nov. 1 1918 and subsequent int. on the co.'s 1st & Ref. M. 5s being in
default the following protective committee was formed.
Over 95% of
the bonds had been deposited up to Oct. 1919.
V. 109, p. 1367..
Committee for 1st & Ref. M. 5s.—Chairman, Albert W. Harris; E. D.
Adler, Chester A. Cook, Holmes Forsyth, Geo. H. Taylor, John C. Part¬
ridge; Secy,, Chester Corey, 202 Harris Trust BIdg., Chicago, 111.
De¬
positary: First Trust & Savings Bank, Chicago, 111.
V. 109, p. 1367.
Successor Cos. Incorporated.—See V. 110, p. 262.
ORGANIZATION.—incorporated in Wasnington Jan. 15 1906, and Is a
consolidation of the Coeur d'Alene & Spokane Ry., the Spokane Traction
Co.. the Spokane Terminal Co. and the Spokane & Inland Ry.
N. W
Harris & Co.,
Harris Trust & Savings Bank and E. H. Rollins & Sons
offered the bonds for sale.
Has a light and power franchise in Spokane.
Transports all kinds of heavy and light freight traffic, as well as passengers,
and exchanges freight with steam roads.
As to possible lease of lines In Spokane to or consolidation with the Wash¬
ington Water Power Co., see that company below.
Fares.—In Jan. 1918 filed with the Wash. P. S. Comm. a new fare
schedule, effective Feb. 1 1918, increasing the rate for school tickets to
4 cents each and discontinuing the sale of 11 tickets for 50 cents and 110
tickets for 5 dollars.
In Apr 1 1919 was auth. by the Washington P. S.
Comm. to charge a 6-cent fare.
The company had applied for a 7-cent
fare.
V. 108,, p. 1611.
See also V. 109, p. 477; V. 110, p. 262.
City Purchase Possible.—See V. 109, p. 1274.
upon
STOCK AND BONDS—
Date.
Interest.
Common $10,000,000 ($100)
Outstanding.
$10,000,000
Maturity.
rights $10,000,0001
($100), 5% (see text)
/
First and refunding mortgage f 1906
5 g
$15,000,000
gold
($l,-jlnt. at First
Q-J
6,409,100Oct20'07,IK
M-N
3,688,000 May 1 1926
Trust & Sav., Chicago, trustee,
000)
;
c*tf I
or at First National Bank, New York.
Spokane Trac 1st M $1,000,-/ 1905
5 g J-J
66,000 See text
000 gold ($1,000)
c&rtfllnt. at Title Guar. & Trust Co., N. Y., trus.
O d'A & S 1st M $500,000 g} 1903
5 g J-J
442,000 Jan. 1 1929
($100, $500 & $l,000)_c*tf\lnt. at Title Guar. & Tr. Co.. N. Y., trustee
Spokane Terminal 1st mtgef 1905
5 g F-A
176,000 See text
$500,000 gold
($500 and]Interest at First Trust & Sav. Bank, Chi$1,000)
c*tf l
cago. trustee, or at First Nat. Bank. Bost.
Bonds.—Of the $15,000,000 first and refunding bonds, $989,000 are re¬
served to retire $751,000 bonds of the subsidiary companies and $10,000,000
for 75% of cost of permanent extensions and additions, but only when the
net earnings for the preceding 12 months have been at least twice the annual
interest charge on all bonds outstanding and to be issued.
Are subject to
call from May 1 1911 to Nov. 1 1915 at 107 K and int.; thereafter at 105 and
Int.
One per cem of bonds outstanding is payable to a sinking fund from
1911 to 1915, IK % from 1916 to 1920 and 2% from 1921 to 1925.
See
V. 83, p. 1291. and V. 86, p. 721.
$348,000 have been retired.
The Spo¬
bonds are due $10,000 annually from July 1910 to 1914 at
July 1915 to 1924 at 105 and int.; remaining
July 1 1925 at par and int.
Bonds are subject to call as an
entirety at 105 and int. on 60.days' notice. V. 81, p. 841.
The Spokane
Terminal Co. bonds mature $12,500 on Aug. 1 from 1910 to 1929 incl. and
kane Trac. Co.
105 and int.; $15,000 annually
$700,000
on
$100,000 on Aug. 1 1930.
The unissued bonds mature in 1930 and are
subject to call at 105 and int.
On the Coeur d'Alene & Spok. Ry. bonds a
tink.fd. of 5% of net earnings is provided. Bonds are subj. to call at 105&int.
Pref. rights became cumulative after Jan. 15 1911.
After 5% paid on
common stock, the pref. rights are to share ratably with the common stock
up to 7% but not higher.
Preferred rights can be redeemed at any
$135 per share and have no vote.
Dividends.—First dividend on pref. rights—1K %—was paid Jan.
and 1K % was
paid April, 1K % July and 1K % Oct. 1907.
time at
20 1900
None since.
Dec. 31:
1
Net (after
Other
Interest,
Balance,
Taxes).
Income.
&c.
Deficit.
1918
-$1,223,868
def.$110,701
$13,107
$527,059
$624,65.3
1917
1,324,481
34,267
4,668
500,937
462,002
ROAD.—Operates 288-669 miles of track (single, double, sidings and
spurs), including lines in Spokane and to Coeur d'Alene and Hayden Lake
on the east; to Colfax, Palouse, Washington and
Moscow, Idaho, on the
south: and an extension from Greenacres on Coeur d'Alene Division to
Liberty Lake.
Outside of Spokane the road is in accordance with standard
Year ending
Dec. 31—
Gross
Earnings.
-
Company owns valuable passenger terminal
building in the heart of Spokane and freight terminal located
Great Northern and Northern Pacific terminals, and has
physical connection with all roads entering Spokane.
Also owns a hydroelectrie plant of 20.000 h.p. capacity 0 mile® below Spokane.
OFFICERS.—Pres., Frank S. Elliott; V.-P. & Comp., W. F. Turner,
Portland: V.-P. & Traffic Mgr., Waldo G. Paine, Spokane; Sec.
Robt.
Crosbie; Treas., Paul McKay.
V. 107, p. 1580; V. 108, p. 270, 1611,
2331; V. 109, p. 477. 1081, 1274, 1367, 1893; V. 110, p. 262, 563, 1189.
steam
and
railroad specifications.
office
the
WATERPOWER CO.'S SYSTEM—Spokane
THE WASHINGTON
<£cc«
Strict Rfiiilwfly«
ORGANIZATION*,—Chartered
Owns all of the property
in Washington Mar. 13 1889 for 50 years.
formerly belonging to the following companies:
Big Bend Power Co.1
City Park Transit Co.
Edison Electric Illuminating Co.
Ross Park Street Ry. Co.
Spokane Cable Ry. Co.
Spokane Co. Electric Co.
Spokane Electric Ry. Co.
Land & Improvement Co.
Sp§kane Street Ry. Co.
Arlington Heights Motor Ry. Co.
Falls Water Power Co.
Owns the entire capital stock of the Idaho-Washington Light & Power
Falls City
Post
5 to 7 cents.
Common $3,500,000 ($100)
Pref6%
Receivership.—On
receiver for the company was
between
CAROLINA
wash.
INLAND EMPIRE RAILROAD CO.
REPORT.—For year ending
Interest.
.$290,642
$84,278
$11,639
$58,866
$13,773
1917
234,999
105,247
j
ROAD.—Operates a line from South Bend to St. Joseph.
Total crack,
35 miles.
Standard gauge; 70-lb. T rail.
Has 12 motor cars. 2 baggage
and express cars and 4 sub-stations.
General Electric and Westinghouse
equipment.
Purchases power.
OFFICERS.—Pres.. Chas. F. Dieterich. New York: V.-P.. Chas. M.
Murdock; Treas., A. E. Dieterich, New York; Sec., S. T. Murdock; Gen.
Mgr., R. R. Smith; Aud., O. A. Small; Purchasing Agent, R. E. Cornwell.
—V. 83, p. 493.
—
SOUTH
&
Preferred
YearGross.
198
OFFICERS—Pres., P. G. Gossler, N. Y.; V.-P. & Gen. Mgr., G. B.
Tripp, Spartanburg; Sec. & Treas., J. J. Phames, Jr., N. Y.—V. 107, p.
1288,
1386;
V.
108,
p.
172.
RY.—Trolley
road.
19j.8
PROPERTY.—Owns and operates 21 miles of city and interurban street
railway; standard gauge.
65 and 70-lb. T rail.
21 cars.
Hydro-electric
plant has generating capacity of 14,000 h. p.
Auxiliary steam power plant,
4,500 h. p.
Gas plant has a capacity of 250,000 cubic feet daily.
ind.
bend,
BEND & NORTHERN INDIANA
CHICAGO SOUTH
$332,303;
$102,108.
nt., taxes, &c., $230,195; baL. surp.,
[Vol. 110.
RAILWAYS
Bond, &c.,
Interest.
$212,497
195,938
Pref. Divs.
Balance,
(6%).
Surplus.
$420,00
def.$25,727
42,000
78,869
Co., acquired July 1 1913,
and the St. Maries Lt. & P. Co.
Owns all the water power on
V. 97, p. 523.
the Spokane River at Spokane, Wash., In¬
cluding former property of Spokane Falls Water Power Co.: also water
power at Long Lake and Little Falls, Wash., and at Post Falls, Idaho.
Company operates the electric-light and power systems in Spokane, Hillyard, Pullman, Uniontown, Colton, Palouse, Garfield, Farmington, Oakesdale, Tekoa, Colfax, Latah, Spangle, Endlcott, St. John, Elberton, Bel¬
mont, Diamond, Reardan, Davenport, Harrington, Sprague, Rltzville.
Lind, Odessa, Wilbur, Almira, Creston, Hartline, Rockford, Johnson and
Govan, all of Washington, and in St. Maries, Moscow, Genesee and Osborne
in Idaho. Also supplies power for operation of other cos. at Newport, Medi¬
cal Lake and Cheney in Washintrton and Post Falls, Rathdrum, Coeur
d'Alene, Wallace, Wardner and Kellogg in Idaho.
In Nov. 1Q17 entered
into a contract with the Chicago Milw. & St. Paul Ry. to furnish power
for
the
operation of its trains on the western extension of the electrified
section of the road over the Cascade Mountains.
The
co.
began supplying
to the railroad in the summer of 1919.
Franchises for electric-lighting and power in Spokane run to June 1 1934.
Street railway franchises of various lengths.
Franchises in small towns
various lengths, 25 to 50 years.
In 1917 the City Council of Spokane, Wash., denied the co.'s petition for
cancellation of ordinance provisions for franchise taxes and maintenance of
pavement between tracks.
power
Ape., 1920. j
ELECTRIC
On March 15 1910 increased authorized capital stock from $10,000,000
$15,000,000 and on Dec. 2 1913 to $20,000*000.
V. 97, p. 1505.
Early in 1917 the Washington Legislature passed an Act empowering the
co. to take over bv lease or consolidation the lines of the Spokane & Inland
Empire RR. in Spokane.
The Act, it is understood, will be availed of.
If at all, only after the Spokane & Inland Empire RE. has set Its affairs in
order.
Compare V. 105, p. 1999.
1
Acquisition of Spokane, Heat, Light & Power Co.—In 1919 negotiations
were concluded with the creditors and security holders of the Spokane Heat,
Light & Power Co., by which the property of that company was bid in by
the committee representing its 81,400,000 3-year mtge. notes, and turned
over to the Washington Water Power Co. free and clear.
The latter issued
in place of said notes its own $1,400,000 20-year (not callable) debentures
bearing interest at the rate of 3% for the first 6 years, 4% for the next 7
years and 5% for the remaining 7 years.
(See table below).
V. 108, p.
685.
The property was acquired at receivers' sale and turned over as of
May 2 1919; the electrical machinery and business was absorbed by the
Washington Water Power Co. and the steam heat plant and business sold
to the Spokane Central Heating Co., a subsidiary corporation capitalized
at 81,000,000 common stock.
V. 109, p. 1280.
Fares.—In Jan. 1918 filed with the Wash. P. S. Comm. a new fare
schedule, effective Feb. 1 1918, increasing the rate for school tickets to
4 cents each and discontinuing the sale of 11 tickets for 50 cents and 110
tickets for 5 dollars.
V. 106, p. 500.
In Aug. 1918 the company's advance
to 3-cents per mile on its interurban lines and its 25% increase in freight
rates were upheld by the Washington P. S. Comm.
Y. 107, p. 803.
In April 1919 was auth. by the Wash. P. S. Comm. to increase fares to
6 cents.
The co. had applied for a 7-cent fare with a 1-cent charge for
transfers.
Seealso V. 109, p. 478; V, 110, p. 263.
Compare V. 108, p. 975.
In Feb. 1920 issued 83,000,000 2-yr. 7% notes to refund a like amount
of 1-yr. 6% notes due Feb. 2 1920.
Y. 109, p. 2441; V. 110, p. 360.
Dale.
Interest.
STOCK AND BONDS—
Outstanding.
Maturity.
Stock $20,000,000 ($100)
Q-J
$15,490,000 Apr '20,1H
5 g J-J
1st consol mtg and collateral f 1899
237,000 July I 1929
Interest at Franklin Trust Co., Brooklyn.
trust,
$2,000,000, gold
\
N. Y., trustee.
($1,000)
c*&r I
5 J-J
1st ref mtge, $15,000,000 g\ 1909
5,923,000 July 11939
($1,000)-._c* & r* cptflnt. at Farmers' L. & Tr. Co., N.Y., trustee
2-yr secured notes $3,500,000/ 1920
7%
3,000,000 Feb. 2 1922
{Central Union Trust Co., trustee.
20-year debentures—
1919
see text
1,400,000
1939
Bonds.—Of the $15,000,000 refunding & ext. mtge. bonds, $237,000 are
reserved to retire 1st mtge., $3,600,000 are pledged as collateral under
the 2-year notes (see above), $3,850,000 are in treasury, $1,190,000 have
been canceled by sinking fund, and the remainder are for add'ns and extens
at not to exceed 50% of cost.
Sinking fund of 2% per annum of bonds out
began Sept. 1909 for purchase of bonds at not exceeding 110 and int., but
bonds cannot be drawn.
Bonds are redeemable as a whole at option of com¬
pany at 110 and int. V.88, p. 54. 1003. Bonds are listed on N. Y. Stock
Exchange.
V. 89, p. 1544; V. 104, p. 1900, 2120.
Notes.—The 2-yr. notes are secured by deposit of 1st & Ref. Mtge. 5%
bonds in the ratio of 120% of the amount of notes outstanding.
Interest
payable semi-annually at Spokane & Eastern Trust Co., Spokane.
Dividends.—In 1900, 3%; in 1901, 4%; in 1902, 5%; in 1903, 6%; In 1904.
6%; 1905 to 1910, incl., 7% per annum.
In 1911, 7%%:
In 1912 and
1913,8%.
In 1914, 7%%.
In 1915. 55*%.
In 1916. 4H%:
In 1917,
4%.
In 1918, 4%.
In 1919, 4%.
In 1920, Jan., 1^%; April, 1M%.
REPORT.—For years ending Dec. 31 (1918 report in V. 108, p. 1388):
Total
Net (after
Bond.
DepreProfit
Divs.
Balance,
Receipts.
Taxes).
Int. &c. ciation. & Loss:
Paid. Sur.orDef.
Year
$
$
8
$
8
$
$
1919-3,670,092 1,742,429 536,323 353,000 dr.l',097 658,325 sur.193,683
1918-2,927,379 1,454,902 512,710 325,000 dr.6,973 619,600 def.
9,381
1917-2,833,191 1,392,327 431,909 325,000 cr.2,096 619,600 sur. 17,914
Passengers carried (city lines only), 1919, 18,478,611, against 16,482,739 in 1918 and 17,305,047 in 1917.
ROAD.—System consists of 110.93 miles of track.
City lines occupy
44.96 miles of streets.
Standard gauge; 60 to 107-lb. T. rails.
Does a
freight business under special franchise. Operates 638 miles of high-tension
transmission lines.
Owns hydraulic power plants as follows: 12,000 h. p.
at Spokane; 15,000 h.p. at Post Falls, Idaho; 27,000 h.p. at Little Falls,
Wash., completed in 1911.
In 1915 completed first half, 33,000 h.p. of
an
ultimate installation of 66,000 h. p. at Long Lake, Wash.
A new
22,500 mech. h. p. unit was completed in Dec. 1919.
OFFICERS.—Pres., D. L. Huntington; Chairman of Exec. Comm. &
V.-P., W. J. C. Wakefield; V.-P. & Gen. Mgr., W. E. Coman; See. &Treas.
V. G. Shinkle; Aud., J. S. Simpson.—V. 108, p. 380, 581,685, 975, 1388,
2242; V. 109, p. 478, 1274, 2441; V. 110, p. 263, 360,659.
to
—
...
—
springfield, mass.
SPRINGFIELD STREET RY.—See New England Investment & Securi¬
ties Co. under
Worcester.
springfield, mo.
SPRINGFIELD RAILWAY & LIGHT CO.—See Federal Light & Trac.
Co! under New York City.
Rails, 70-lb. T; five cars.
OFFICERS.—Pres.,Warren Bicknell, Cleveland; V.-P., Geo. A. Coulton;
Treas., Chas. S. Thrasher; Oper. Mgrs., The Warren Bicknell Co,
100, p. 643; V. 101, p. 2072; V. 105. p. 2367.
Y. 99, p. 1911; V.
RAILWAY & POWER CO.
Receivership.—Reports state that int. on the $250,000 1st M. 6's having
defaulted, George Whysall in Sept. 1919 was appointed receiver for the
co.
V. 109, p. 1180.
Sale Ordered.—In Feb. 1920 Federal Judge Sater, in a receivership suit
brought by the Central Trust Co. of Illinois and W. P. Abbott, trustees,
for the co's. 1st mtge. bonds, ordered the receiver to sell the road at public
auction, at an upset price of $300,000 on a date to be fixed by the receiver.
Receivers Certificates.—In Dec. 1919 Judge John E. Sater auth. the issu¬
ance of $25,000 6% receiver's certificates, secured by a first lien on all the
property of the co.
V. 109, p. 2440.
Compare V. 109, p. 2263.
ORGANIZATION.—Successor In Nov. 1916 to the Springfield Troy &
PIqua Ry., which was incorp. April 20 1903.
The railroad is on private
right of way except in cities and towns.
Franchises expire In 1928.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock
$350.000
1st Mtge $350,000 gold ($500/ 1916
6 g J-D
250,000
See text
and$1.000)
c*tf\Int. at Central Trust Co. of III.. Chicago.
Receiver's ctifs $25,000 ($500)- 1920
6%
25,000
Stock.—The Springfield Troy & Piqua Ry. was financed by its officials;
$70,000 stock was issued to comply with law requiring issue of 10% of au¬
thorized amount.
In 1917 the Ohio P. U. Comm. authorized and the co.
issued $280,000 stock to reimburse (together with the $250,000 bonds
shown above) the estate of Asa S. Bushneli for advances.
V. 103, p. 1981.
Bonds.—The bonds mature $25,000 Dec. 1 1920, $35,000 Dec. 1 1921 to
1925 and $50,000 Dec. 1 1926.
Red., all or part, on any int. date at 102
and int.
Remaining bonds may be issued only for 85% of cost ofpermanent betterments and additions.
Central Trust Co. of III., and Wm. T.
V. 103, p. 2079.
Abbott, Chicago, are trustees.
EARNINGS.—For cal. year 1917, gross, $147,427.
ROAD.—Operates 30.46 miles between Springfield and Troy, O.; began
SPRINGFIELD TERMINAL
been
——
—
—
139
springfield, vt.
SPRINGFIELD
ELECTRIC
RY.—A
trolley
road.
Receiver.—In May 1918, Judge H. H. Blanchard of Springfield, Vt.,
Treasurer of the company, was appointed receiver, following default on
the $100,000 1st M. bonds due Nov. 1 1917.
V. 106. p. 2124.
ORGANIZATION.—Length of road, 6H miles (9 miles Of track) from
Jeld, Vt., to Charlestown, N. H.
Freight and passenger road,
freight in standard cars.
Capital stock, common (auth.), $75,000, all outstanding; 6% pref. Btock.
825,800; 1st M. for $100.000of 5% gold $500 and $1,000 coupon bonds dated
Nov. 1 1897, due Nov. 1 1917; (nt. M. & N. at National Shawmut Bank.
Boston.
Receiver's certifs. (issued for old indebtedness), $22,321.
EARNINGS.—For year ending June 30 1919, gross, $98,383; net, before
taxes, $5,824.
In 1917-18, gross, $107,127; net, before taxes, $6,884. Pres.
& Gen. Mgr., E. C. Crosby; V.-P., M. A. Coolidge; Treas., H. H. Blan¬
chard; Supt., A. J. Crosby.—V. 64,p.1043; V. 70, p. 793; V. 106, p. 2124.
staten
island, n. y.
RICHMOND
LIGHT &
RR. CO.
Service Suspended.—See Staten Island Midland Railway Co.
below.
ORGANIZATION.—This company was formed as a reorganization on
Aug. 18 1902 of the Staten Island Electric RR., New York & Staten Island
Electric Co. and the Richmond County Power Co,
Owns the entire capital
of the New Jersey & Staten Island Ferry Co.
For terms of reorganization
and complete statement of plan, see V. 74, p. 1091. Franchises are perpetual.
Transfer Decision.—On April 28 19*11 Court of Appeals rendered a decidon requiring the exchange'of transfers between Manor Road line of the
9. I. Mid. Ry. and connecting lines of R. L. & RR.
R.
V. 92, p. 1179.
V.
Merger Denied.—The N. Y. P. S. Comm. on May 10 1917 denied the
application for auth. to merge this co. and the Staten Island Midland Ry.
under the title of Staten Island Light & Traction Co.
V. 104, p. 1900.
In June 1917
applied to P. S. Comm. for auth. to increase fare from 5 to 6c.
See V. 107, p. 502.
Fine.—Having failed to comply with the P. S. Comm.'s order requiring
the co. to double track Castleton Ave., Richmond, on April 15 1916, a
judgment for a fine of $77,300, being an aggregate of $100 a day from
April 15 1916 to May 28 1918, was filed against the co. in June 1918.
In an appeal to the Appellate Division of the Supreme Court the order
of the Commission was sustained.
V. 106, p. 2758.
8TOCK AND BONDS.—
Date.
Interest.
Outstanding.
Maturity.
Stock$3,000,000 ($100)
$2,871,750
-
First
collateral
trust
$2,500,000 goldBonds.—$300,000
—
mtge,\ 1902
are
EARNINGS.—For years ending June 30:
Year.
Gross.
Net (aft. Tax.). Other Inc.
1918-19
$491,578
448,691
1917-18
1 1952
2,200,000 July
4 g J-J
tf/Int. at Guaranty Trust Co., N. Y., trustee.
reserved for the acquisition of new property.
ROAD.—Miles of track, 32.05; 90-lb. girder Cambria and
Johnson steel rails; 36 passenger cars.
OFFICERS.—Pres.. C. W. Hotchkiss.
Surplus.
$123,438
51,943
Int. & Rents.
$165,754
163,072
$286,957
164,372
$2,186
50,643
85-lb. girder
V.-P. &
Mgr., R. L. Rand; Sec., J. E. Phillips.—V. 107, p. 502; V. 109, p.
Gen.
55
Wall
St..
N.
Y.:
2440.
STATEN
ISLAND
MIDLAND
RAILWAY
CO.
Receivership.—In Jan. Federal Judge Charfield appointed Jacob Brenner
receiver for the co.
V. 110, p. 360.
Service Suspended.—On Jan. 16 1920 the co. discontinued the operation of
its trolley lines.
This action followed the refusal of the Board of Estimate
& Apportionment, to grant a 7-cent fare upon the request of a committee,
appointed by P. S. Commissioner Nixon to investigate the co's. affairs.
The committee found that the co. was operating at a loss of $100,000 per
annum.
V. 110, p. 360.
Compare V. 109, p. 2440; V. 110, p. 79! 262, 360.
In April, 1920, it was stated that the city of New York would operate the
road under the direction of the receiver.
V. 110, p. 1643.
ORGANIZATION.—Incorporated in New York on Jan. 16 1907 as a
reorganization of the Staten Island Midland Railroad Co. sold under seques¬
tration proceedings on Jan. 3 1907.
V. 84, p. 222.
Transfer Decision.—See under Rich. Lt. & RR. above.
V. 92, p. 1180.
Merger Denied.—See Richmond Light & RR. Co. above.
In June 1917 applied to P.S. Comm. for auth. to increase fare from 5 to 6c.
Interest.
Outstanding.
Maturity.
$1,000,000 -----1896
5 g J-J
1,000,000 Jan 21 1926
_c*tf lint, at Farmers' L. & Tr. Co., N. Y.t Trustee
STOCK AND BONDS—
Date.
tock $1,000,000 ($100)I Mid RR 1st mtg $1,000,-/
-
—
000
gold ($1,000)
Equip trust ctfs Ser A $135,-/ 1915
6 g J-J
64,500.
See text
000 ($500) gold
c*&r(Interest at Bankers Trust Co., Trustee.
Bonds.—Sinking fund after 5 years but bonds cannot be called.
The equipment trust certfs. mature $7,000 each Jan. 1 and $6,500 each
July 1, beginning July 1 1915.
They are subject to call at 102 and interest.
Secured by 32 double-truck closed cars.
EARNINGS.—For years ending June 30;
Year—
Gross.
Net (aft.Tax.)
Other Inc.
1918-19.
-$307,534
322,188
1917-18
$1,363
2,190
def.$80,346
def. 36,522
girder.
41
passenger
Int. & Rents.
$68,094
69,785
Deficit
$147,076
104,116
Rails 65 to 70-lb. T and 90-lb,
ROAD.—Owns 28.68 miles of track.
springfield,ohio.
SPRINGFIELD & XENIA RAILWAY CO.
ORGANIZATION.—Incorporated In Aug. 1906 to succeed the Spring¬
field & Xenia Ry.. which was organized in 1904 to succeed the Springfield
& Xenia Traction Co., which had been sold under foreclosure. V. 83, p. 214.
STOCK.—Common, auth. and issued, $300,000; preferred, 5% cum.,
auth. and issued, $300,000.
Par, $100.
$1,200 of each class held in treas.
Dividends.—First div. on pref., 4%, was paid Oct. 1 1908.
In 1909,
5V2%: in 1910. 4H%; 1911. SH%.
In 1912, 6H%-.
In 1913. Mar.,
IH; June, IM%\ Sept., 1H%; Dec., 1^% regular and 2% extra, which
paid accumulations in full to Jail. 1 1914.
In 1914 to 1919, incl., 5%.
In 1920, March, IH%>
Initial dividend on common of 2% paid Dec.,
1913.
In 1914, 1915 and 1916, 3%.
In 1917, Dec., 2%.
None to Dec.
31 1919
when 1%> Wcis p&id.
EARNINGS.—For year ending Dec. 31 1919, gross, $114,249; net, after
taxes, $12,859.
In 1918, gross, $88,641; net, after taxes, $12,116.
ROAD.—Operates 20 miles of track connecting Springfield and Xenia
Sec. &
RAILWAYS
cars.
OFFICERS.—-Pres.. C.
W.
Hotchkiss. 55 Wall St., N. Y.
City; Sec..
A. M. Still well, New Brighton, N. Y.—V. 110, p. 79. 262, 360,
1643.
stockton, cal.
CENTRAL CALIFORNIA TRACTION
CO—An electric road.
ORGANIZATION.—Organized In California In Aug. 1905 to construct
interurban system of electric roads for passengers and freight in the cen¬
tral valleys of California.
Road operates over private right of way,
except in the cities.
Franchises in all the cities of the system run for 50
years.
An additional freight and passenger franchise was awarded com¬
pany In May 1909 for City of Sacramento.
An assessment of $5 a share
was called for payment Feb. 20 1908.
V. 86, p. 667.
In Jan. 1918 another
assessment of $5 per share was levied on both classes of stock, delinquent
Feb. 25 1918, to provide additional equipment, Improve trackage and
restore the company's credit by reducing floating debt.
The necessity for
this action was ascribed to years of unprofitable operation due to jitney
an
competition, which Is now regulated.
See V. 106, p. 497.
On May 8 1911 shareholders voted to increase/auth. stock to $4,000,000,
of which $3,000,000 is com. and $1,000,000 pref.
V. 92, p. 955.
Lease.—The Cal. RR. Comm. in March 1915 authorized the company to
lease Its lines In Stockton to the Stockton Elec. RR. at a rental of $12,500
a year for first 3 yrs. and $15,000 yrly. for next 35 yrs.
V. 100, p. 1167.
Operating Agreement.—Early in 1916 entered into an agreement with the
Tidewater Southern Ry. providing for the joint operation of the two lines
as one system.
The separate corporate existence of each, however, Is to
V. 102, p. 1250.
be maintained.
Plan to Reduce Interest, &c.—In 1917 holders of the 1st M. 5s signed an
agreement reducing the int. rate from 5% to 2% for the years 1917, 1918
and 1919 and waiving default in int. and also the sinking fund provision.
Compare V. 106, p. 497.
Fare Increase.—In July 1918 auth. by the Cal. RR. Comm. to increase
passenger fares on its main line between Stockton and Sacramento and
on the branch line to Lodi to 3 cents per mile, to cancel round-trip fares
and to increase commutation rates 10 %.
V. 107, p. 401.
.
.
Date.
STOCK AND BONDS—
Outstanding.
Interest.
--
$2,675,300
LQQO.OOO
Common $3,000,000 ($100)—
Pref
$1,000,000 ($100) 6% cum
—
Maturity.
—
- —
----L==
"
First
—---
operating In July 1904; Including second
track and sidings, 33 miles.
Rails,
for
10
years,
succeeding 10 years and $45,000
Bonds are red. on any int. day at 105 and
$30,000 per year for the
per year for remaining 4 years.
Int
on 60 days' notice.
'
EARNINGS.—For the 11
months ending Nov. 30 1917 the company
reported a profit of $6,011, after all deductions, against a loss of $88,101
during the corresponding period in 1916.
ROAD.—Operates in the city of Stockton and an interurban line from
Stockton through Lodi to Sacramento.
Total track operated, 70.8 miles.
Has operating agreement with Tidewater Southern Ry- whereby the two
lines are operated as one system.
Company carries Wells Fargo express
,
matter.
„
„
„
OFFICERS.—Pres., Alden Anderson; V.-l's., M. Fleishhacker.Geo. W.
Fleishhacker; Sec. & Treas., A. N. Baldwin; Gen. Mgr.,
60 and 70-lb. T.
Standard gauge.
Power plant capacity, 1,700 h.p.
OFFICERS.—Pres., Fred. J. Green: Sec., G. A. Kohler.
General office,
Peltier and H.
Springfield, Ohio—V. 109, p. 1180, 2263, 2440; V. 110, p. 563.
C. H. Robertson.
Office, 233 Post St., San Francisco.—V. 107, p. 401.
ROAD.—Operates from Syracuse to Oswego, 37.8 miles.
Oswego city
lines, 10.15 m.; Auburn to Port Byron, 7.62 m.; Auburn city lines, 1.42 m.;
Fulton city lines, 0.6 m.; total length of road, 57.59 miles; second track,
21.25 m.; car house and other sidings, 5.08 m.; total trackage 83.92 miles.
Gauge, 4 ft., 8H inRail, 70 and 90 lbs.
56 passenger cars, 4 express
cars, 2 work cars, 4 snow plows and 6 miscellaneous cars.
Has contract
for power with Niagara Lockport & Ontario Power Co.
Has 4 sub-stations
with a total capacity of 2,900 k.w.
electric rr.
stockton
ORGANIZATION.—Incorp. Dec. 291891 In California.
Southern Pan.
owns the entire $500,000 stock except directors
shares.
No bonds
Co.
outstanding.
•
Lease.—For lease of the Central California Traction Co.'s lines
ton,
see
that company above.
in Stock¬
■
,
Cal. RR. Comm. to charge
7-cent fare.
V. 108, p. 80.
Fare Increase.—In Jan. 1919 was auth. by the
a
The co. had applied for a
6-cent fare.
1917
Bal.,Sur
159; V. 100, p. 643, 902; V. 102, p.
Standard gauge.
1626; V. 108, p. 80.
& Empire Trac.
taking over at the
V. 99, p. 1452.
Assessment.—An assessment of 10 cents per share was levied on stock¬
holders, delinquent Oct. 4 1915.
In 1917 an assessment was levied on all
delinquent stock equal to the amount unpaid, delinquent April 21, sale date
Co. the line of their railway from Modesta to Empire,
time all freight agreements with the Santa Fe road.
same
May 10 1917.
Operating Agreement with Central California Trac. Co.—See remarks
under that company above.
Valuation.—Early in 1916 the reproduction cost, less depreciation, of
1st M.
5% bonds, due in 1942, at not less than 80; proceeds to pay in part for
construction werk.
V. 106, p. 1345.
Interest.
—
-
Maturity.
5 g A-O 15
$416,500 Apr 15 1942
tf\Union Trust Co., San Francisco. Trustee.
Bonds.—First mtge. bonds are issuable at $20,000 per mile.
Subj. to
call at 103 on any int. day.
Sinking fund 2% of bonds out Oct. 15 1916 to
Oct. 15 1921, and 3% of bonds out Oct. 15 1922 to Oct. 15 1941. which will
retire bonds at maturity.
$50,000 are held in sink. fd.
Int. at company's
office
or
in New York.
ROAD —Operates a 2-hour passenger service between Stockton, Atlanta,
Has contract for power with Sierra & San Fran.
Escalon and Modesto.
Power
two
'
Under
Co.
with Central California
agreement
properties are operated
Traction Co.
the
Also has traffic agreements with
as one system.
the Western Pacific, California Nav. & Imp. Co., South. Pacific and the
Atch. Topeka and Santa Fe for the interchange of passengers and freight.
EARNINGS.—For year ending Dec. 31 1919, gross, $212,064; net, after
taxes, def., $61,149.
In 1918,
gross,
STOCKS AND BONDS.— Date.
First
Beard; Sec. and Treas., Chas. Elsey.
Office, Mills Building, San Francisco,
102, p. 1250; V. 103, p. 1793; V. 104, p. 164, 665; V. 106, p.
1345; V. 107, p. 1580.
Calif.—V.
STREATOR, ILL.
illinois valley qas & electric co.
This company was merged on Nov. 1 1911 into the Public Service Co. of
Northern Illinois, which see in our "Ry. and Industrial" Section.
&
EARNINGS.—For cal. year 1919: Gross, $1,010,960;
SYRACUSE, N. Y,
OFFICERS.—Pres., Arthur W. Loasby, Syracuse, N. Y.; V.-P'
Mgr., T. C. Cherry; Treas., W. K. Zinsmeister Sec.. Mercer V.
Peck-Shanahan-Cherry, Inc., operate the road.—V. 105, p. 1803;
p. 87, 1231, 2451; V. 107, p. 1193; V. 108, p. 1823, 2123; V. 109, p.
ORGANIZATION.—Incorp. in New York Oct. 27
Empire United Rys., Inc., sold under foreclosure
1917
to the
V. 105, p. 909.
per
as
successor
plan in V. 104,
The new co. took
over, subject to underlying bond
issues the Syracuse Lake Shore & Northern and Auburn & Northern divi¬
sions.
The Rochester Syracuse & Eastern division was separately reor¬
ganized as the Rochester & Syracuse RR. (which see below).
Fare Increase.—In Jan. 1918 announced various fare increases, including
an advance from $1 25 to $1 38 for round trip tickets between Syracuse
and
In Sept. 1918 these rates were again increased, this time
from $1 38 to $1 90.
Wage Award by War Labor Board.—V. 107, p. 1977.
The 3-year 6% notes (shown in table below) due Nov. 1 1920, have been
called for payment on May 1 1920.
Y. 110, p. 1526.
Oswego.
STOCK AND BONDS.—
Date.
Interest.
Common
$1,500,000 ($100)—
Pref "A" 6% cum $1,000,000
($100)
Pref B 6 % non-cum $1,250,000
($100)
3-yr notes $500,000 ($1,000)1 1917
—
_
Outstanding.
$1,450,000
Maturity.
6 M-N
1,250,000
350,000 Nov
1
1920
c*tf/Int. at Equitable Tr. Co.. N. Y„ Trustee.
_
„
Syracuse Lake Shore & Northern RR.—
let mortgage $2,500,000 gold! 1907
5 g M-N
2,500,000 May 1 1947
($1,000)
__c*tf/Int. at Columbia Tr. Co., N. Y„ Trustee.
Auburn & Northern Electric RR.—
lBt mortgage $1,000,000 gold 1
Stock.—Series "A" pref. stock is redeemable at 105.
Series
"B", after
It has
received 5 years' consecutive dividends at the full rate of 6%, is
entitled to rank pari passe with or be converted into Series "A."
Of the
f250,000 series Committee to outstanding $50,000 is held in common and
A" reported retire mortgage notes. The trust by the
Reorganization
series "B"
pref, stocks
are
held in
a
5 year voting trust.
Notes.—The 3-year notes are subject to call as a whole at par on any int
Pa. 4 mills tax refunded.
Of the $350,000 outstanding $150,00G
are held in trust by the
Reorg. Comm. to provide for construction and
date.
These notes
EARNINGS.—For
Cal. Year.
1919
1918
were
called for payment on May 1 1920.
calendar
Gross
3857,553
749,858
V. 110,
years:
Net aft. Taxes.
$217,736
215,494
as successor
to
for $201,000 and $35,000, respectively.
Sale
1917.
The company was organized as per plan in
modified and approved by the P. S. Comm. by an order
dated April 20 1917.
Fare Increase.—On Aug. 12 1919 was auth. by the P. S. Comm. to charge
a 6-cent fare in Syracuse.
V. 109, p. 777.
reorganization
committee
March
confirmed
in
580,
as
Interest.
Outstanding.
Maturity.
$150,000
6%
480,000
2nd pref $500,000 ($100)
±
6%
420.000
First mtge $600,000 gold ($251 1917
5 g M-N
153,750 May 1 1946
$100 and $1,000)
f Int. at Tr. & Dep. Co., of Onon.
Stock.—All classes of stock have equal voting power.
Stock Is held in a
five-year voting trust.
The trustees are Arthur W. Loasby, William Not¬
tingham and Ferdinand W. Roebling Jr.
Bonds.—Are subject to call in whole or in part on and after Nov. 1 1917
at 110 and int.
Int. on $25 bonds payable May 1 only.
Int. payable
STOCK AND BONDS—
Date.
Common $150,000 ($100)
First pref $600,000 ($100)
.......
without deduction other than Federal income tax.
EARNINGS.—For cal. year 1919, gross, $105,391; net income,
in 1918, gross,
$8,442;
$85,665; net (deficit), $2,157.
ROAD.—Operates
12.18 miles of single track equivalent over private
right of way from Syracuse to Oneida Lake, and a single track branch line to
Brewerton, 6.2 miles.
Has traffic agreement with New York State Rail¬
ways Co. to enter Syracuse.
New road began operations April 26 1917.
85-lb. T rail.
Gauge, 4 ft. 8H inches.
17 cars.
All private right-of-way.
Power is purchased from Niagara Lockport & Ontario Power Co.
OFFICERS.—Pres., TalmadgeC. Cherry: V.-P., Treas., & Gen. Mgr.,
W. J. Harvie; Sec., H. C. Beatty, Peck-Shanahan-Cherry, Inc., operate
105,
p.
73. 499; V. 106,
p.
1231; V. 109, p. 777.
& syracuse electric rr.—a trolley road.
ORGANIZATION.—Organized Sept. 30 1902 as
and Auburn Interurban Elec. RR.
Auburn City Ry.
Financial
a
consolidation of the
Franchise perpetual.
Readjustment.—In April 1916 the P. S. Comm. auth.
an
issue
of $437,000 6% 5-year notes to refund the $250,000 1-yr. notes due Feb. 1
1916, the $150,000 18-mos. notes due Aug. 1 1916, and for other corporate
As part of this refinancing plan, the common shareholders were
called upon to surrender 35% of their stock, which was distributed as a
bonus to subscribers to the notes at the rate of 1 share of stock for every $100
of notes.
The stock so delivered was in the form of voting trust certificates,
purposes.
102, p. 1895.
In Feb. 1918 issued $292,000 1st & Ref. M. 5s to take up existing obli¬
gations and for extensions. &c.
■i
Wage Award by National
pare
V. 106,
p.
War Labor Board.
-V.
107,
p.
1977.
Com-
2227.
Fare Increase.—In Jan.
1919
was
auth.
increase fares in Auburn and the Auburn
by the N. Y. P. S. Comm. to
from 5 to 6 cts.
V.108, p. 76.
zone
15 1920 was auth. by the city authorities of Auburn to increase
fares to 7 cents, the new rate to continue in effect for 3 yrs. V. 110, p. 764.
On
Mar.
On Aug.
cuse.
12 1919 was auth. by the Comm. to charge a 6-cent fare in Syra¬
109, p. 774.
V.
Interest.
Outstanding.
Maturity.
$1,2,50,000
Q-J 15
712,000
See text
1902
5 g A-O
1,752.000 Oct
11942
refunding
mortgage
$2,-' Int. at Harris, Forbes & Co., New York.
000.000 gold ($l,000).c*tf
Equitable Trust Co., New York, trustee.
1916
6 g F-A
Gold notes $450,000 ($1,000,1
72,000 Feb 1 1921
$500 & $100) see text
c Int. at Trust & Dep. Co. of Onondaga, Trus.
STOCK AND BONDS—
Date.
Common $1,250,000 ($100)
Bonds.—Of the $2,000,000 authorized, $248,000 is reserved for future
ex¬
tensions, but only when net earnings are double int. charges; subject to call
at 110 and Interest.
See V. 75, p. 1201.
Int. on notes Is payable without
deduction for taxes other than Federal income tax.
They are red. at par
int. date on 30 days' notice.
$85,000 have been paidloff.
on preferred stock—1%—-paid Nov.
1 1904.
1% Feb. 1 1905. May 1 1905 and Aug. 1 1905; Nov. 1 1905. 1)4%
paid (See V. 81. p. 1609).
In 1906, 5)4%: 1907 to 1913 Incl.. 6% per
annum.
In 1914. Jan., 1 H%: April. 1 H%; July, 1 H%.
Nonesince. No
divs. can be declared until the notes of 1916 are paid off, except with the
consent of the voting trustees.
V. 102, p. 1895.
Oth. Inc.
$10,380
7,566
Dividends.—First dividend
then
EARNINGS.—For years ending Dec. 31:
Gross.
Net.
Taxes.
Year—
Bonds.—The bonds of the Syracuse Lake Shore & No. RR. are suDject
to call since May 1 1917 on any int. date at 110 and int. upon 60
days'
notice.
No sink. fund.
The Auburn & Northern bonds are subject to
call at 110 on any interest period on 60 days' notice.
No sinking funds.
equipment.
p.1526.
inc.
and int. on any
1905
5 g M-N
250,000 May 1 1945
at Equitable Trust Co., N. Y., Trustee.
c*tf/lnt.
($1,000)
electric ry..
ORGANIZATION.—Incorp. In New York May 12 1917
the Syracuse & South Bay Electric RR. and the Syracuse Watertown &
St. Lawrence River RR., bid in at foreclosure sale on Nov. 1 1916 by the
Pref 6% n-cum $750,000($100)
Auburn & Syracuse first and
250,000
__
northern
syracuse
& Gen.
White.
V. 106,
73.
and, together with sufficient of the remaining common stock to constitute a
majority, was deposited under a voting trust agreement extending to Jan. 31
1921.
Trustees are Arthur W. Loasby and F. W. Roebling Jr.
V.
empire state rr. corp.
p. 863;
applicable to bond
ROAD.—Operates a double-track line from Syracuse to Rochester, 81 m.
auburn
pany's entire stock and equipment to the McGovern Co., Inc., of N. Y.,
for $26,250.
The company's charter has been annulled, the rails are to be
torn up, &c. V. 109, p. 1893.
For history of this company see "Electric
Railway" Section of Nov. 15 1919.
$1,500,000
2,500,000
2,500.000 May 1 1957
int. and divs., $212,879.
street ry.
com¬
Maturity.
Outstanding.
conv
$5,000,0001 1917
5 g
$1,000) g__c*ntfjFirst Trust & Deposit Co., Syracuse, trustee.
1st M. 5s are convertible into pref. stock at par, $ for $,
between May 1 1919 and May 1 1929; this privilege may be terminated by
the co. in case of merger or consolidation with any other co. under N. Y.
laws, or of the lease of its property.
They are callaole, all or in part, on
and after May 1 1922 at 105 and int.
The remaining bonds may be issued
for impts., add'ns, exts., &c., under certain restrictions.
SWANSEA, MASS.
& seekonk
To he Dismantled.—On Nov. 9 1919 the directors voted to sell the
6%
M-N
mtge
($500
the road.—V.
swansea
Interest.
Bonds.—The
$183,854; net, after taxes, $2,804.
OFFICERS.—Pres., C. M. Levey; V.-Ps., A. R. Baldwin and B. A.
deposit their bonds with the reorganization
Common $1,500,000 ($100).
Preferred $3,000,000 ($100)
V. 103, p.
Outstanding.
See text
$4,000,000/ 1912
gold ($500 & $1,000)
to the
United Rys., Inc.,
as successor
committee, received $346 76 per $1,000 bond.
See V. 106, p. 1231.
Fare Increase.—On April 28 1919 the N. Y. P. S. Comm. for the 2d
Dist. auth. the co. to increase fares to 3 cents per mile, less one-half a cent
per mile for mileage tickets, effective shortly after May 1 1919.
Commuta¬
tion rates were raised one-fifth of a cent per mile and a special rate estab¬
lished between Rochester and East Rochester.
V. 108, p. 1823, 2123.
operative property was fixed by the Cal. RR. Comm. at $623,377, and
of the non-operative property at $90,166.
V. 102, p. 1250.
In Mar. 1918 was auth. by the Cal. RR. Comm. to issue $500,000
Bondholders who failed to
full.
which 50 miles
for share, for the $30,000 pref. stock outstanding.
Purchase.—In Nov. 1914 purchased from the Modesta
Date.
Asst.
plan in V. 104. p. 2119.
Overdue int. on the Roch. Syr. & Eastern bonds
to and incl. May 1 1917, amounting to $100 per $1,000 bond, was paid In
Stock.—$1,795,703 stock, of which $14,560 is preferred, ia outstanding in
the hands of the public.
In Dec. 19l6 the Cal. RR. Comm. auth. the co.
to issue $600,000 stock at not less than 80, the proceeds to be used to extend
Its line from Hatch to Irwin City, Cal., 8 miles, for freight terminals in
Modesto and for other impts.
V. 104, p. 164.
In Jan. 1917 the RR.
Comm. auth. the co. and Pres. Byron A. Bearce to terminate the special
trust created for $2,000,000 of common stock to cover control during the
construction period by freeing therefrom 250,000 shares and returning the
remaining 1,750,000 shares to the treasury.
The 250,000 shares are to
be held in a special trust and be withheld from sale for 5 years. V. 104, p.
665.
The co. has applied for permission to exchange common stock, share
-----
Beatty;
system) sola at foreclosure Aug. 28 1917 and separately reorganized as per
Stockton to Fresno via Turlock, including branch lines, of
between Stockton and Turlock completed and in operation.
($1)
Meacham;
C. Stivers; Auditor, J. B.
Treas., J. Holden Wilson.—
& Comptroller, S.
C.
rochester & syracuse rr. co., inc.
Srojected Transit Ry. Southern RR. (V. construct a 227-mile line from
outhern Tidewater &
It is proposed to 93, p. 1790) and Tidewater &
STOCK AND BONDS—
Sec.
H.
ORGANIZATION.—Incorp. in N. Y. Sept. 17 1917
tidewater southern railway company.
Stock $5,000,000
First
mortgage
Sec.,
Rochester Syracuse & Eastern RR. (part of the Empire
ORGANIZATION.—Incorp. on Mar. 11 1912 as a consolidation of the
the
Odell;
V.2105, p. 1801; V. 106, p. 189; V. 107, p. 2097; V. 109, p. 72; V.110, p.1289,
29 cars.
OFFICERS.—Pres., Paul Shoup; Sec. & Aud., H. A. Culloden; Treas.,
M. S. Wade: Mgr., Frank W. Webster.
Office. Los Angeles, Cal.—V. 76,
miles of track.
ROAD.—Operates 25-51
L.
L.
Hyland; Asst.
325,427
42,440
15,143
4,124
53,459
240,802
OFFICERS.—Pres. & Gen.Mgr., J. C. Nelson; V.-Pres., P. W.
Treas.,
EARNINGS.—For years ending Dec. 31:
Gross.
Net.
Other. Int., Rents &c.
1918
$243,276
$29,722
$7,351
$11,646
Year.
p.
[Vol. 110.
ELECTRIC RAILWAYS
130
Int., &c.
$149,963
150,251
Bal.lSurp.
$78,153
72,809
1919
1918
$641,904
724,237
$140,727
137,535
$27,709
37,173
lnt.,&c.
$95,880
95,763
Surplus..
$17,137
4,599
ROAD.—Operates 41.16 miles of road (64.76 miles of track), Including
Has trackage
14.12 in. in Auburn and 27.1 m. from Auburn to Syracuse.
agreement with New York State Railways, allowing it to enter Syracuse.
Owns Lake Side Park, about 33 acres, on Owasco Lake; 62 passenger cars.
1 parlor car, 3 express, 3 work, 1 service, 2 sweepers and 5 snow-plows;
total, 77 cars.
OFFICERS.—Pres., T. C; Cherry, S5Tacu.se; V.-P., Harold G. Metcalf, Auburn; V.-P.& Gen. Mgr., W. J. Harvie; Treas., Aud. and Assd. Sec.,
L. E. Lippitt, Auburn; Sec., H. C. Beatty, Ssracuse.
Peck-ShanahanCherry, Inc., operate the road.—V. 106, p. 188, 2227; V. 107, p. 2097;
V. 108, p. 76; V. 109, p.-774; V. 110, p. 764.
ELECTRIC
APE., 1920.]
a
Cleveland, O.,
V. 88, p. 507.
syndicate headed by Mr. John J. Stanley of
purchased the stock of the Syracuse & Suburban.
Franchises
ORGANIZATION.—Chartered June 29 1895.
In Aug.
are
perpetual.
1918 was auth. by the N. Y. Pub. Serv. Comm. to execute a
mortgage to the Fidelity Trust Co., Phila. (changed to Syracuse Trust Co.,
Syracuse, N. Y.), as trustee, to secure an issue of $1,000,000 1st Ref. 5%
the issuance of $750,000
used
gold
bonds, $550,000; the remaining $200,000 will be issued and sold for cash,
one-half to be taken by the bondholders and the other half by the stock¬
holders.
The proceeds will discharge floating indebtedness and leave
$55,000 for impts. and $18,000 for working capital.
V. 109, p. 677
Compare Y. 107, p. 605.
Up to Mar. 1920 this financing had not been
The directors have authorized
bonds.
50-yr.
bonds thereunder (already approved by P. S. Comm.) proceeds to be
as follows: to be held in trust to retire 1st Mtge. and 1st Cons. Mtge.
carried out.
Fares.—Effective Oct. 16 1918 was auth.
Increase cash fares to
a
by the N. Y. P. S. Comm. to
minimum
basis of 3 cents per mile with 6 cents as the
V. 107, p. 1482.
Compare V. 107, p. 182.
Wage Award by National War Labor Board.—V. 107, p.
charge.
($100)
First mtg $400,000 ($500 and/ 1897
$1,000) gold
Clint, at
New cons mtg $550,000 ($500/ 1903
and $1,000) gold
c*tf lint, at
Dividends.—In 1915. 1H%', 1916,
H%.
EARNINGS.—For years ending Dec. 31:
Year—
Gross. Net (aft. Taxf). Oth. Inc.
Sur. or Def.
sur.$l,929
Charges.
$34,604
35,167
$385
394
$36,148
25,242
$172,973
138,808
1918
Maturity.
See text
5 g F-A
400.000 Aug 2 1927
Fidelity Trust Co., Phila., trustee.
5 g M-N
150,000 May 1 1953
Fidelity Trust Co., Phila., trustee.
mtg., $400,000 are reserved for prior liens.
Bonds.—Of the 1903 cons,
1919
1977.
$400,000
—
-
def. 9,531
,
ROAD.—Operates 18.52 miles of track from Syracuse to Edwards Falls,
with branch from Orville to Jamesville. Standard gauge; rails, 60 and 90
lbs.; 10 passenger and 9 other cars.
J.
OFFICERS.—Pres.,
J.
V.-P.
Stanley;
&
Gen.
First mtge $600,000
Mgr., C.
$300,000 g
gu
($1,000).c*tf\Int.atAm.Tr.Co.,Bos.;Treas.of Oonn.,trust.
Dividends.—On pref. in 1906,
1%
EARNINGS.—For years ending Dec. 31:
Gross.
Exp. & Tax.
Net.
electric railway between Tampa and Port Tampa
a line to Sulphur Springs.
Franchise is for 999 years from 1899.
$233,800 stock is held by the Public Service Investment Co. ■
Stockholders voted Jan. 8 1912 to increase stock from $1,700,000 to
and
$1,870,000.
V. 93, p. 1601.
In Feb. 1913 made a further increase to $2,244,000 and in Jan. 1914 to $2,618,000. V. 98, p. 156.
In Aug. 1917 in¬
stock to $2,879,800.
Stockholders of record Sept. 15 1917 were
creased
V. 105, p.
given the right to subscribe for the new stock pro rata at par.
1917
Outstanding.
Maturity
Feb'20. 2^
$2,874,300
($1,000/ 1908
5g. J-D
956.500 June 1 1933
c*tf|lnt. at Amer. Trust Co., Boston, trustee.
Bonds.—Callable as a whole (or in part for sink, fd.) at 105 and int. at
any timoi.
$173,500 are in treasury.
Sink, fund of 1% of bonds out¬
standing yearly, payable August 1; $100,000 in sinking fund canceled.
1st
mtge $2,000,000
and $500) gold
Dividends.—5% semi-annually for several years up to Noy. 1907,
In 1908, 7%; in 1909, 7%; in 1910, 8%; in
div. of 2% was paid.
and since. 10%.
a
EARNINGS.—For 12 mos. ending Dec. 31:
Gross.
Net (aft. Tax). Interest.
Sink. Fund.
Year.
1918
$54,994
51,654
$507,574
442,270
$1,269,248
1,062,546
1919_
when
1911.
Surplus.
$452,579
390,616
Standard
53.6 miles of equivalent single track,
23 other cars.
Owns 2 amusement parks.
Has
14,500 k.w. capacity and hydro-electric station
with 600 k.w. capacity.
ROAD.—Operates
gauge. 106 passenger and
steam power station with
OFFICERS.—Pres.. Geo. J. Baldwin;
V.-Ps.. P. O. Knight and Harry
Hunt; Treas., Henry B. Sawyer; Sec., Geo.
Stone & Webster Mgt. Assn.—V. 106, p. 397; V.
H.
def.$51,929
def.48,361
def. 6.603
13
miles
of track from State line to East Windsor
formally opened on Jan. 15 1902, and 7.80 miles (formerly
Somers.
Also a line
Ry., 9.70 m., and a
line from Warehouse Point to Broad Brook, 14.45 miles.
Has trackage
rights in Hartford and Springfield, making total mileage operated. Including
Bldlngs, 44.95 miles.
Standard gauge.
56, 60 and 70-lb. T rail.
46 cars.
ROAD.—Owns
Hill, which
was
Somers 8c Enfield Electric Ry.) from Thompsonville to
from Suffield to a connection with the Hartford Street
OFFICERS—Pres.,
V.-P., P. O.
Perkins, Hartford, Conn.; Sec. & Gen. Mgr., J. M, Mellor, Warehouse
Point, Conn.; Treas., Geo. S. West, Boston, Mass.; Asst. Treas., Lester
E. Flint, Boston, Mass.—V. 109, p. 676, 2439; V. 110, p. 1289.
OHIO.
TOLEDO,
& SOUTHERN
TRACTION CO.
of the FIndlay
Hancock Light
Urban 8c InterRy., but rental due April 1 and July 1 1908 having been defaulted,
lease
was
canceled.
The entire property of the Toledo Urban 8c Interurban Ry. was sold on
Aug. 23 1909, under foreclosure, to the Toledo 8c Findlay Ry. Co., which
property was afterwards purchased by Toledo Bowling Green & Southern
Traction Co., and the latter company assumed ite bonded debt.
V. 88, p.
1439; V. 89, p. 105, 412.
In Feb. 1915 was granted a new franchise for 25 years In Findlay.
The
old franchises had 10 years more to run, but were canceled.
In Oct. 1916 the Ohio P. U. Comm. auth. the issuance of $141,500 addi¬
tional 1st M. 5s for impts. and the discharge of obligation".
Up to Sept. 1
1919 these had not yet been issued.
Fare Increase.—In
Stock$2,879,800 ($100)
Sur. or Def.
$48,658
49,197
48,649
def.$3,270
836
42,046
$260,485
228,363
202,011
$257,214
229,199
244,057
1918
1310.
Interest.
Q-F 15
Interest.
Year—
1919--.
urban
Date.
6%; in 1907, 0%; none to May 1910, when
In 1912, May ,2%; Nov., 2%.
In 1911. 5%.
paid; Nov., 2%.
was
ORGANIZATION.—Incorp. in 1901 as a consolidation
St. Ry., the Toledo Bowling Green 8c Fremont Ry. and the
& Power Go. of Findlay, O.
Formerly leased to the Toledo
ELECTRIC CO.
STOCK AND BONDS—
at
Bonds.—See V. 78, p. 1223.
The Windsor Locks bonds are guaranteed,
prln. and int.. by the Hartford & Springfield Street Ry.; $139,000 are re¬
served for additions and Improvements.
Trustee, Treasurer of State of
Connecticut.
These bonds are subject to call at 110 and int. on any Int.
date.
Rockv. Broad Brook & East Windsor Street Ry. bonds are guar.,
p. & I., by Hartf. 8c Springf. St. Ry.
They are subj. to call at 110 8c int.
TOLEDO BOWLING GREEN
ORGANIZATION.—Incorporated in Florida on Oct. 31 1899.
In
April 1913 purchased the Tampa & Sulphur Springs Traction at foreclosure
sale.
Does the entire electric railway, electric lighting and power business
in Tampa and operates an
payable
Loomis
TAMPA, FLORIDA.
TA/IIPA
600,000 July 1 1921
American Trust Co.,
5 g J-J
c*tf Interest
Boston; Treas. of Connecticut, trustee.
1904
5 g J-J
Windsor Locks 1st M $300,161,000 July 1 1924
000 g ($1,000) gu p &i.c*tf4 Interest at American Trust Go., Boston
1906
5 g A-O
Rockv B B & E Wind 1st mtg
200,000 April 1 1926
677.
2561; V. 1107, p. 182, 605, 1482, 2098; V. 109, p.
6 M-N
-
($1,000) /_1901
gold
Allen; V.-P., W. P. Gannon; Treas., Alan O. Forbes: Sec., Willis H.
Michell; Aud., G. W. Avery.
C. Loomis Allen operates the road.—V. 106,
p.
Outstanding.
Maturity.
$500,000
285,000 Nov *12,2%
($100)
Preferred $500,000 6% non-1
cum redeemable at 110
None since.
Outstanding.
Interest.
Date.
STOCK AND BONDS—
Stock $400,000
Common $500,000
Interest.
Date.
STOCK AND BONDS—
SYRACUSE & SUBURBAN RR.—A trolley road.
In Feb. 1909
131
RAILWAYS
A. Peirce; Gen. Mgrs.,
109, p. 1988.
increase
July 1918 was auth. by the Ohio P. U. Comm.
its mileage charge, effective Aug. 1 1918.
Common
Interest.
Date.
STOCK AND BONDS—
V. 107, p.
Outstanding.
$1,125,000
750,000
$1,500,000
Pref $750,000 (non-cum)
First mtge $1,500,000
_
Q-F
__
to
403.
Maturity.
See text
5 g"M-N
1,003.500 May 1 1921
Int. at Central Tr. & S. D. Co., Gin., trustee
($1,000 and $500)
1910
5 J-J
480,000
Jan 1 1938
Toledo 8c Findlay mortgage
$500,000 gold
ntf Union Sav. Bank 8c Trust Co. Oin., trustee
1901
gold
ntf
,
mtgef 1899
5 g J-D
275,000 Dec 1 1924
ntflCentra Tr. & Safe Dep. Co., Oin., trustee
I
Int. at Metropolitan Trust Co.. N. Y.
Bonds.—Of the bonds of 1901, $275,000 are reserved to retire Findlay 8».
Ry. bonds.
The Toledo & Findlay mtge. is a first mtge. on the property of
the acquired Toledo Urban 8c Interurban Ry.
Dividends.—On pref., lJi % quar. from Aug. 1910 to and including Ang.
Findlay Street 1st cons
$275,000 gold
i
None since.
1914.
31 1919, gross, $547,608; net, after
interest, $91,775; bal.,sur'., $25,412.
In 1918,
EARNINGS.—For year ending Dec.
taxes, $117,187; bond, &c.,
$490,101; net, after taxes, $122,631;
bal., sur., $31,806.
gross,
T
bond, &e., interest, $90,825;
ROAD.—Comprises 51 miles from Toledo to Findlay.
60-lb. and 72-lb.
and girder rails.
Owns 25 passenger and 6 freight motor cars and 18
freight non-motor cars.
1
OFFICERS.—Pres.,
TAUNTON, MASSACHUSETTS.
BRISTOL
Sale.—On
Nov.
28
1917
Swift,
Edward
the 3.4 mile branch from Briggs Corner to Attleboro
by the city of Attleboro.
The city, we understand,
is operating the line under the name of the A. B. C. Street Railway under
some working agreement with the Inter-State Street Ry.—V. 107, p. 1288.
with the exception of
which was purchased
TOLEDO
FOSTORIA
&
In Nov. 1916
purchased the 11 J^-mile line of the Lake Erie
Stock
Dec. 18 1917 to F. F. Downs,
representing the bondholders.
The sale
July I 1918 and the property is
being operated by W. G. Haag as trustee for the purchasers.
EARNINGS.—For calendar year 1919, gross, $46,701; net, after taxes,
$8,971.
In 1918, gross, $36,307; net, after taxes, $3,402.
Yeager and Calvin Green,
consummated and title transferred on
.
ROAD.—Operates 13.1 miles of track between Temple and Belton,
Tex., with loop in each city. 60-lb.Trails. Standard gauge.—V.106. p.87.
Date.
Interest.
($100)
common
Q-J
800,000
See text
1900
5 g A-O
365,000 Oct 1 1920
c\ Int. at Cleveland Trust Co., Cleve., trustee.
any time.
Sinking fund began July 1 1905.
First Mortgage
($1,000)
•
Bonds may be called at
$85,000 bonds have been retired.
Dividends.—1 H% is being paid quarterly on
_
_
STREET RY.—A trolley road.
Appointed .—On Sept. 30 1918 Judge W. S. Case in the Superior
Court at Hartford, Conn., appointed Harrison B. Freeman receiver for the
co.
upon application by W. C. Mason & Co. of Hartford, holders of a
$2,500 unpaid claim for coal.
V. 107, p. 1384.
Compare V. 107, p. 1287.
20 1918 the receiver stated to the Superior
expected the mortgages against the co.'s property
Foreclosure Probable.—On Dec.
shortly.
V. 107, p. 2476.
No further developments up to
ORGANIZATION.—Was formerly known as the Enfield & Longmeadow
Electric Ry. (which was Incorporated on Feb. 11 1895), but in May 1901
stockholders voted to change the name as above, and to reconstruct and
re-equip road.
Connects with the Hartford Street Ry. in Hartford and the
Springfield Street Ry. in Springfield, Mass. In June 1901 purchased the
Kast Windsor Street Ry. Co.
Franchises perpetual.
Controlled the Somers & Enfield Electric Ry. Co., which on April
1 1904 was merged in the
Hartford & Springfield Street Ry.
V. 78, p. 1446.
Also purchased the
property of the Windsor Locks Trac. Co., subject to its mortgage.
In 1905
the Legislature granted permission to Increase stock to $1,000,000 from time
to time, part to be preferred, and also to extend time for construction until
July 1 1907.
See V. 79, p. 2697.
In July 1906 absorbed the Rockville
Broad Brook 8c East Windsor Street Ry., which operated 14 miles of track
from Warehouse Point to Rockville.
V. 83, p. 213.
completed arrangements to operate
the Suffield Street Ry., extending from Spencer's Corner, Suffield, to the
State line, under a lease from the Connecticut Co.
V. 108, p. 2629.
Lease.—In June 1919 the company
Fare
effect
Increases.—An increase in fares from 6 to 7 cents was
May 20 1918 in the zones operated in Connecticut.
on
April 1
1920, Judge Lueien F. Burpee
crease
put into
Effective
in the Superior Court at Hartford
3 1-3 miles and to in¬
lengthen the zone distances to
the zone fares from 7 cents to 10 cents.
V.
auth. the receiver to
110, p. 1289.
1918.
$267.494
1919.
_$307,611
_
1917.
$263,724
35,223
44,060
Toledo, Fostoria
put in operation
45,452
ROAD.—Operates 64 miles between Bowling Green,
Findlay.
Portions between Pemberville and Toledo
THOMPSONVILLE, CONNECTICUT.
which interest is in default to be foreclosed
Mar. 1920.
preferred stock.
EARNINGS.—For calendar year:
Calendar Year—
and
Receiver
upon
Ohio P. U. Comm. t«
V. 107, p. 403.
Outstanding.
Maturity.
$700,000
effective Aug. 1 1918.
pref 5% cum ($100)
$450,000 gold/
Stock
Gross
at re¬
1032;
Increase.—In July 1918 was auth. by the
Net, after interest and taxes
HARTFORD & SPRINGFIELD
Bowling Green i
Napoleon RR., between Pemberville and Bowling Green (bid in
on Aug. 5 1916 by the bondnolders.
V. 103, p. 666,
V. 103, p. 1889.
ceiver's sales
STOCKS AND BONDS—
SOUTHWESTERN TRACTION CO.—A trolley road.
Sale.—The road was sold at auction on
FINDLAY RAILWAY.
&
Fare
Court at Hartford that he
Kilgour; Sec. 8c
ORGANIZATION.—Incorporated in 1900.
increase its mileage charge,
TEXAS.
TEMPLE,
W. J.
Chas.
McNutt & Co., building wreckers,
Boston, purchased this company's property at foreclosure sale at Attleboro.
Mass., for $110,000.
V. 105, p. 1707, 2183.
The line has been dismantled
was
Goepper; V.-P.,
Treas., A. J. Becht; Asst..Sec. & Treas., Morris McGrew, all of Cincinnati;.
Gen. Mgr., Chas. F. Smith, Findlay.
Offices, Findlay, O.—V. 109, p. 889.
RAILWAY.
STREET
COUNTY
in June
1908.
OFFICERS.—Pres., H. C. Greer, Morgantown,
Fernsell Jr., Dover; Sec. &
Fosteria.—V. 78, p. 704; V.
TOLEDO
&
W. Va.; V.-P., C. C.
Treas., A. J. Krantz, Dover;
103, p. 1889; V. 107, p. 403.
INDIANA RAILROAD CO.—A
Mgr., E. Smith,
trolley road.
ORGANIZATION.—Incorporated In Ohio in Jan. 1911 and on June 29
1911 took over the Toledo & Indiana Traction Co. (V. 93, p. 230), assuming
all of latter'B liabilities. &c.
The Toledo & Indiana Traction on Feb. 8
1910 was successor of the Toledo 8c Indiana Railway, sold under foreclosure
on Jan. 18 1910.
V. 90, p. 237, 448.
Most of road is on private right of
way.
Franchises are perpetual except one for road crossings In FultOD
County, expiring In 1935.
Outstanding.
Maturity.
$l,04u,000
See text
400,000 Jan 2 1931
$400,000 gold ($1,000)—c*lint, at Columbia Trust Co., N.Y., trustee.
Bonds.—Toledo 8c Indiana Traction 1st M. bonds are subject to call at
102)4 and int. on any Int. date.
V. 92, p. 1244, 1375.
Dividends.—Dividends at the rate of 4% per annum were paid to and
STOCK AND BONDS—
8tuck
Interest.
Date.
Q-J
$1,040,000
Tol & Ind Trac 1st mortgage/
including Dec.
1916.
1911
5 g J-J
None since.
$295,698; net, after taxes.
after taxes, $44,587; bond interest.
EARNINGS—For calendar year 1918. gross,
$39,923.
In 1917, gross, $272,533; net,
$20,000; surplus, $24,587. -
Toledo westerly to Bryan
& Light Co.
OFFICERS.—Pres., L. R. Schenck; V.-P. & Gen. Mgr., H. C. Warren;
V.-P., S. D. Carr; Sec.. C. F. Chapman, Jr.; Treas., H. W. Potter; Aud..
C. B. Kleinhans, all of Toledo.—V. 93. p. 230. 287; V. 96, p. 1774.
ROAD.—Operates 56.58 miles of track from
tracks of Toledo Railways
Enters Toledo over
[Vol. 110.
RAILWAYS
TROY, N. Y.
TRENTON, N. J.
TRENTON & MERCER COUNTY TRACTION CORPORATION.
ORGANIZATION.—Incorp. on Oct. 6 1910 in New Jersey with $10,000
stock ($100). increased in Nov. 1911 to $400,000, of which $200,000 is prof.
V. 93, p. 1260.
On Oct. 16 1910 leased for 990 years Trenton Street Ry.,
Mercer County Trac., Tren. Ham. & Ewing Trac. and Trenton Pennington
&
Hopewell St. Ry. at a rental of $80,000 the 1st year, $82,500 the 2d, $85,yearly until the maximum of $150,000
000 the 3d, then Increasing $5,000
TROY
Trenton Street Ry. properties,
but was granted an extension of time until April 1 1918 and then to July 1
1918 in which to make payment.
(Up to April 1 1920, we are informed,
1918 failed to pay rental on the
this had not been paid.)
.
April 1919 the co. applied to the N. J. P. U. Comm. for auth. to
$200,000 of bonds to pay back taxes and to provide for impts.
V.
In
.
issue
Oct. 15 1918, was auth. by the N. J. P. U. Coram
to discontinue the 5-cent fare with 6 tickets for 25 cents and to establish
a straight 6-cent fare Instead.
V. 107, p. 1288.
In Oct. 1918, however,
Justice Prenchard in the Supreme Court at Trenton, N. J., allowed the
city of Trenton a writ of certiorari to review the P. U. Comm.'s action in
granting this increase.
A stay was issued at the same time which prevented
the co. from collecting the 6-cent fare unless a receipt was given to each
V. 107, p. 1482.
On Oct. 22 1918
the Comm.'s action
Court of Errors and
Appeals.
V. 108, p. 974.
Effective Jan. 4 1920, was auth. by the N. J.
P. II. Comm. to increase fares in Trenton from 6 to 7 cents with an extra
charge of 1 cent for initial transfers.
V. 110, p. 79.
In June 1917 the P. U. Comm. auth. the issue of $66,000 5% notes to
the Mechanics Nat. Bank, Trenton, for the purchaseof 10 newcars. V. 104,
p. 2344.
In Dec. 1917 this order was modified by changing^ the interest
for the extra fare charged.
person
Justice Swayze in the N. J. Supreme Court upheld
and on Mar. 3 1919 this decision was affirmed by the
rate to 6%.
In Feb. 1Q20
applied to the N. J. P. U. Comm. for approval of a financing
plan under which the company proposes to buy 40 new cars, costing $240,V. 110, p. 563.
Favorable Tax Decision.—See V. 106, p. 1345.
000.
cal. year 1918, gross, $884,349; net, after taxes.
In 1917, gross, $880,558; net, after taxes, $300,814.
EARNINGS.—For
$205,802.
of track, comprising
interurban lines to Yardville, Trenton
Junction, Pennington, Hopewell, Lawrenceville, Princeton and Hamilton
Square.
The new tracks have 90-lb. Johnson girder rails.
OFFICERS.—Pres., Rankin Johnson.—V. 307, p. 1288, 1482, 1580,
1670; V. 108, p. 974, 1512; V. 110, p. 79, 262, 563.
ROAD.—Owns and controls by lease about 72 miles
all local street railway in Trenton and
Trenton Street Ry.—Trolley.
The United Power & Transporta¬
20,000 shares of stock outstanding.
(1)
tion Co. owns 19,969 out of the
Lease.—Is leased to Trenton & Mercer County Trac.
Corp, (see above),
V. 91, p. 1513.
ORGANIZATION.—Formed June 29 1898 by consolidation of the Tren¬
Passenger Ry., Mulberry Street Passenger Ry., Pennington Avenue
Passenger Ry. and Ewing Passenger Ry.
On June 19 1899 the Mercer County Traction Company was formed
with a capital of $100,000 to enable the Trenton Street Railway Company
to build an extension of 11.42 miles into Princeton and in the city of Tren¬
ton.
The entire stock is owned by the Trenton Street Railway.
Is oper¬
ated as a part of Trenton Street Ry. system.
In June 1903 acquired entire
capital stock($250,000) of Trenton Pennington & Hopewell St. Ry., which
Is also operated as part of the Trenton St. Ry. System and whose bonds It
guarantees, d. & i.
Also on May 1 1906 acquired entire capital stock
($200,000) of the Trenton Hamilton & Ewing Traction Co., operated as part
of Trenton St. Ry. System, guarantees Its bonds, principal and interest.
In Aug. 1911 increased auth. stock from $1,000,000 to $2,500,000.
ton
Date.
STOCK AND BONDS—
gold
$1,000,000
each)
($1,000
c*
_
Maturity
Outstanding.
$1,000,000
Interest.
Stock $2,500,000 (par $50)..
Trenton Passenger first mtge
1920-1925
90,000
($15,000 due yly Sept. 30
80,000
1926-1930
6 g A-0
1891
($20,000 due yly Sept. 30
Interest at Mechanics Nat.
650.000
Bank, Trenton, N. J
Consolidated
mortgage
Sep 30
1931
1898
5 g J-J
1,130,1)00 July 1 1938
gold $2,000,000 ($1,000) c*Unterest in Trenton at Mechanics National
I
Bank; Girard Trust Co., trustee.
Trenton St Ry gen M $500,-/ 1911
6 J-D
500,000 June 1 1941
000 gold ($1,000)
c*lBankers Trust Co., New York, trustee.
Guaranteed Bonds-
1903
5 g J-D
350,000 June 1 1943
Int. at Fidelity Trust Co., Newark, trustee.
Guar., prin. & int., by Trenton Street Ry.
gold guaranteed
1905
5 g M-N
Trenton Hamilton & E 1st M
405,000 Nov 1 1955
$500,000 ($1,000) gold__c* [Int. at Real Est. T. I. <fc Tr. Co., Phila.,trus.
Mercer Co Tr 1st M $300,000
5 J-J
300,000 July 1 1944
1904
gold ($1,000) guar p & Lc*tReal Est. Tit. Ins. & Tr. Co.. Phila., trustee.
Trenton Pennington & Hope
first
mortgage
$350,000
Bonds.—$855,000 consolidated 5s of 1898 are reserved to retire first 6scall at 105 & Int. on any Int.
day.
V. 93, p. 797.
Are listed on Phila. Stock Exchange.
Mercer
County Trac., Trenton Pennington & Hopewell and Trenton Hamilton &
Ewing Trac. bonds are guar. p. & i. by end. by Trenton Street Ry.
V. 94,
p. 826, 1696.
Trenton St. Ry. gen. M. bonds are subj. to
OFFICERS.—Pres., John A. Rigg; Sec. & Treas., T. W. Grooket Jr.
—V. 93, p. 797; V. 94, p. 828; V. 105, p. 2273; V. 106, p. 1901, 2230.
Mostly private right
ORGANIZATION.—Incorporated Dec. 17 1889.
Franchises perpetual.
of way.
Stock $350,000 ($100)
First mortgage $160,000
Maturity.
Outstanding.
Interest.
Date.
STOCK AND BONDS—
^§9'999
----
gold?
A
See,t^c
1895
5 g F-A
160,000 Aug 1 1945
$500
...(Int. at office of company, Albany, N. Y.
ROAD.—Total track, Including sidings, 9.15 miles; standard gauge, laid
with 65-lb. rail; running from Albia to Averill Park.
-
108,
PFares'—Effective
trolley road.
passed into hands of receiver Jan. 31 1906.
On July 1 1907 control
was acquired by the Del. & Hudson Interests, all indebtedness was adjusted
and receiver discharged.
V. 85, p. 100.
Road
r0&ch8(l*
In Jan.
ENGLAND RAILWAY.—A
NEW
&
In 1911, Jan., 4%; Dec.. 4H%.
In 1914, 2%.
None since.
Dividends.—In 1910. Jan., 4%.
In 1913, 2%.
1912. Dec., 3%.
EARNINGS.—For cal.
years;
,
Net.
G'ross.
Year—
„
,
m
Oth. Inc. Chgs.&Tax.
In
^,
'
Deficit
$325
$12,000
$H29
1917--.—291
12,364
1,564
OFFICERS.—Pres., L. F. Loree. New York; V.-Ps., W. H. Williams,
N. Y., and H. B. Weatherwax, Albany; V.-P. & Asst. to Pres., W.
B.
Schofield, N. Y.; Sec., F. M, Olyphant; Aud., D. L. Waters, Albany;
Treas., C. A. Hoag, Albany; Comp"., W. E. Eppler, N. Y.; Gen. Mgr.,
A. E. Reynolds, Albany.—V. 83, p. 437; V. 85. p. 100.
1918
$5,946
10,509
$33,037
29,824
-
TUSCALOOSA, ALA.
TUSCALOOSA
RAILWAY &
UTILITIES CO.
ORGANIZATION.—Incorp. in Oct. 1915 as a consolidation of the belt
railway formerly owned or controlled by the Birmingham-Tuscaloosa Ry.
& Utilities Co., and the Tuscaloosa Ice & Lt. Co.
The railway was operated
as a steam line until 1914. when It was extended and electrified; It Is strictly
a belt and terminal railway, handling freight and passengers to and from ali
railway stations and has interchange tracks with all steam roads entering
Tuscaloosa; extends to the town of Holt; total miles operated, 14.
Also
supplies without competition electric light, gas and Ice to Tuscaloosa and
Capacity of cos Ice plant, 60 tons per day; of leased plant
tons per day; total daily capacity, 90 tons.
The railroad franchise
suburbs.
30
perpetual and the gas and electric franchises are of 30 years' duration.
electric-lighting contract with the city of Tuscaloosa.
Power Is pur¬
from the Alabama Pow. Co., the co.'s own
plant being maintained as an auxiliary.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock $300,000
$300,000
First mtg $1,000,000 ($1,000,/ 1915
6_g J-J
969,300 July 1 1940
$500 and $100) gold—c*tflRepublic Trust Co., Philadelphia, trustee.
Is
Has
chased under long-term contract
Bonds.—Remaining bonds are reserved for exts., equip,
80% of cost.
Red. at 102 and int. on any int. date.
See
bonds and property in V. 102, p. 1898.
P1ARNINGS.—For years ending Dec. 31:
Year—
Gross.
Expenses.
Net.
1919-----$279,885
$177,304
$102,580
—V.
103,
description of
Interest.
$58,158
58,158
85,611
158,581
244.192
1918.---
and impts. at
Surplus.
$44,422
27,453
1120.
p.
^VICKSBURG, MISS.
VICKSBURG
LIGH¥&
TRACTION CO.
ORGANIZATION—Incorp. In Miss, on July 1 1912, taking over the
VIcksburg Trac. Co., VIcksburg Lt. & Pow. Co., Vicksburg & Yazoo Trac.
Co. and Electric Power Co.
Operates the entire street railway and electriclighting business in Vicksburg and suburbs.
Franchises in VIcksburg run
to (a) street railway. 1948: (&) lighting, 1946.
For railway outside the city
has grant from United States Government.
Date.
Interest.
Outstanding.
Maturity
$1,000,000 t$100)
$1,000,000
$1,500,000 gold] 1912
5 J-J
795.000 July 1 1932
($500 and $1,000)
c*tf lint. at Central Tr. Co. of 111., Chic., trustee.
STOCK AND BONDS—
Stock
First
mtge
bonds
Debenture
1912
$400,000/
278,000 July 1 1922
6 J-J
gold ($1,000)
c*tf|lnt. at Central Tr. Co. of 111., Chic., trustee.
Bonds.—$705,000 1st mtge. bonds are reserved for additions and exten¬
sions at 85% of cost.
Red. at 105 and Int. on any int. date.
V. 95, p. 49.
Debentures are red. at 101 and int. on any Int. date.
See V. 96. p. 488.
EARNINGS.—12 months ending Dec. 31:
1918.
Net,
after
'
1917.
taxes
ROAD.—Owns and operates 11
80-lb. T rails; 20 cars.
1916.
$198,888
$187,435
59,268
—$209,713
53,528
Gross
72,108
miles of track; standard gauge; mostly
OFFICERS.—Pres., I. C. Elston Jr.; V.-P. & Treas., J. N. McCallum;
Sec., C. G. Johnson; Gen. Mgr., E. S. Myers.—V.
488; V. 99, p. 200. 895; V. 103, p. 240.
95, p. 49; V. 96, p. 287,
VINCENNES, IND.
VINCENNES
TRACTION
CO.
Receivership.—In July 1919 Judge A. B. Anderson in the U. S. Dist.
appointed E. C. Cheobold of Vincennes, receiver for the co. on petition
of the Mercantile Trust Co., St. Louis, Mo. V. 109, p. 174.
Court
NEW JERSEY &
PENNSYLVAnTaTtR ACTION
Owned by Pennsylvania-New Jersey Railway
CO.—A trolley road.
ORGANIZATION.—Incorporated in New Jersey on Nov. 14 1901 and
acquired the Trenton Lawrenceville & Princeton RR., the Trenton Lawrenceville & Princeton Extension RR. and the Princeton Street Ry.
On May 13 1913 the Trenton New Hope & Lambertville St. Ry., Yard ley
Morrisville & Trenton St. Ry. and the Newtown & Yardley St. Ry., for¬
merly owned, wore taken over by the Bucks County Interurban Ry.
See
that company under "Newtown, Pa."
On May 15 1917 the co. transferred
$500,000 of its $1,000,000 capital stock to the Bucks
Co. Interurban
Ry. (now Pa.-N, J. Ry. Co.), the other $500,000 being surrendered and
canceled.
Franchises
are
perpetual, except In Trenton, which runs to 1953.
In Jan. 1913, in response to a petition by the receivers, the Board of Publh
Utility Commissioners fixed the rate of fare between Trenton and Princeton
15 cents instead of 10 cents, and on Oct. 10 1916 the Board auth, an
Increase to 20c., providing for 4 fare zones and continuing the sale of com¬
mutation tickets at 12 for $1.
On May 10 1918 was auth. by the N, J.
P. U. Comm. to increase fares from 5 cents to 6 cents in each of the 4
at
between
Trenton
and
Princeton
and
to
eliminate
commutation
tickets, effective May 27 1918.
On Dec. 8 1918 the rate was advanced to
cents per zone in order to enable the co. to meet the increased wages
the War Labor Board.
V. 107, p. 2290.
7
awarded its employees by
Freight Rates.—Effective Dec. 8 1918
approximately 10%.
STOCK AND BONDS—
Date:
Stock $500,000 ($100)
First mtge (See text) gold...]
was
Interest.
Outstanding.
ROAD.—Comprises 13.25 miles,
as follows: N. J. & P. Trac. in Trenton
Trenton Lawrenceville & Princeton RR..
girder.
taxes
122
end.
Dec. 31
aftCr taXGS' ®23-905-
OFFICERS'.—Pres.,
Sydney L.
1919 (Princeton
Division)^ gross,
In 1918> £r°ss' $101,741; net, after
Wright,
Phila.;
V.-P.
&
Gen.
Mgr.,
Gatyi9rt}.Thompson, Trenton; Sec. & Treas., John M. Morrissey.—V. 95,
2290
P' 1557: V' 104' P' 2r>7' 2G41: V 10r>' p" 2229: V' 107> p' 1101'
Date.
.
"ref
Outstanding.
$350,000
Interest.
Q-J
Maturity
See text
5 g M-N
35,000 July 1 1923
($1,000) gold—
c* Int. at Mercantile Tr. Co., St. Louis, trustee.
1903
5 J-J
200,000
Jan 1 1923
VIn Citizens' St Ry 1st mtge
$200,000 gold ($500)—c* Int. at Columbia Trust Co., N. Y., trustee,
VIn T & L
mtge
^600.000
1906
$200,000 are reserved to retire Vincennes
$350,000 for improvements; $15,000 are in
Subject to call at 102H.
No sinking fund.
Citizens' Street Ry. issue and
treasury of company.
1910 and same amount quar
In Oct. 1911 div. Increased and paid H%.
In
Dividends.—Initial div.——paid Oct.
to and incl.
July 1 1911.
1912, Jan.. H%\ April, M%\ July.
Jan., H%', April, >$%.
No later
H%.
In 1913, Oct.. H%.
Information.
In 1914.
$69,579; net, $20,639; Interest.
No later statement has been received.
EARNINGS.—For cal. year 1913, gross,
$11,750; balance, $8,889.
ROAD.—Operates about 10 miles In city of Vincennes.
56, 70-lb. T rail
Standard gauge.
Various extensions have been proposed.
OFFICERS.—Pres.. S. A. Culbertson; V.-P. & Mgr., S. S. Bush; Sec.
M. T. Caldwell.—V. 88, p. 1004; V. 109, p.
174.
VIRGINIA, MINN.
MESABA
9.56 miles; Tren. Law. & Princeton Extension RR., 1.46 miles, and PrlncetonSt. Ry., 0.53 mile.
Gauge, 4. ft.
in.; 70 and 80-lb. T rail and 9i)-!b.
year
STOCK AND BONDS—
Stock
Maturity,
$500,000
...
1902
4 g M-N
600,000 Nov 1 1932
c*tfllnt. at Trenton Tr. & Safe Dep. Co.. trustee.
The 1st M. was originally for $3,000,000, but has been closed at $600,000.
Stock.—The $500,000 reported outstanding is held by
the Pa.-N. J.
Ry. Co.
1.70 miles;
Trac. & Light Co. in Dec. 1909 and
New company issued $350,000 stock and canceled all com. & pref. of
Vincennes Trac. & Light Co. except 5 shares common representing certain
charter and franchise rights.
Franchises expire 1931.
Co.
auth. to increase freight rates
($1,000)
Lambertville,
cennes
Bonds.—Of the refunding bonds
Fares.—On Feb. 23 1912. owing to a Court decision, reduced fares from
Trenton to Yardley from 10 to 5 cents.
V. 94, p. 631.
This decision was
reversed by the New Jersey'Court of Errors and Appeals on Nov. 18 1912
zones
purchased the Vin¬
changed name to Vincennes Trac.
ORGANIZATION.—Vincennes Citizens' Street Ry.
Co.
RAILWAY
CO.
ORGANIZATION.—Incorp. June 27 1914 In Mass. as a reorganization
and the Mesaba By. Co. of Minn.
It acquired all the property of those two companies, assumed their obliga
tlons and now operates the passenger and freight electric road on the Mesaba
Iron Range, Minn., connecting the towns of Hibblng, Chisholm, Buhl,
Mountain Iron, Virginia, Eveletn, and Gilbert, a distance of about 35 miles.
Road is on private right of way except in towns, with steam road construc¬
tion.
Placed in operation March 1 1913.
of the Mesaba Electric Ry. Co. of Maine
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
$1,575,000
685,000
1912
5 g M-S
1.195,000 Mar 1 1932
gold ($1,000) sink fd—c*tf lint, at Amer. Trust Co., Boston, trustee.
Common $2,500,000 ($100)—
Pf $1,250,000 ($100) 7% (cum)
Mesaba Ry 1st M $2,500,000/
Bonds.—$101,000 In sink. fund. Remaining bonds are reserved for future
adds.,
impts., &c. Subject to call as a whole or in part for sinking fund
Sk. fd. 2H% of total bonds certified, began Jan. 1 1917.
at 105 and Int.
ELECTRIC
Apr., 1920.]
$261,004
1917.
287,925
Maint. Res.
$11,777
$56,073
58,190
$110,264
133,311
133
STOCK AND BONDS—
EARNINGS.—For years ending Dec. 31:
Year—
Gross.
Net (aft. Tax.).
Interest.
1918
RAILWAYS
Surplus.
$42,415
54,329
20,791
OFFICERS.—Pres., O. Mitchell; V.-P., R. W. Watson; Sec., Janet
Macauley; Treas., P. L. Saltonstall; Asst. Treas's, L. E. Flint and J. O,.
Bergeson; Clerk, L. E. Flint; Asst. Sec., R. Haydock; Gen. Mgr., L. W.
Hayes.—V. 99, p. 120.
Date.
Interest.
Common $6,500,000 ($100)
Pref 5% cum $8,500.000($100)
Consol mortgage
Q-M
Q-M
Maturity.
Outstanding.
$6,500,000
8,500,000
See text
See text
$17,500,000/ 1902
4 g J-D
11,642,350
Dec 1 1951
($1,000 & $500) gold—c*tf lint. at U. S. Mtg. & Tr. Co., N. Y.t trustee.
Gen mtge $5,000,000 ($500/ 1918
6 g J-D
1,000,000 Dec. 11923
and $1,000) g_
—c*tf 1 Mercantile Trust & Dep. Co
Bait., Trustee
_
_
.
,
RR 1st mtge ($1,850,
1895
5 g F-A
1,850.000 Feb 1 1925
000) gold ($1,000) not sub¬ Interest at Baltimore Trust & Guarantee Co.
trustee, Baltimore.
*
ject to call.—
—c*tf
Anacostia & Potomac River
1899
5 g A-O
2.979,000
Apr 1 1949
first mtge $3,000,000 gold Int. at Baltimore Tr. & Guar. Co., trustee.
($1,000) sinking fund_c*tf
May be called at 112M.
Met
.
warren, pa.
WARREN
& JAMESTOWN
STREET RAILWAY CO.
ORGANIZATION.—Incorporated in New York and Pennsylvania and
Jan. 15 1904.
Private right of way, except In Jamestown,
where company has a 50-year franchise and 3 or 4 miles of public right of
way, for which perpetual franchises are held.
In 1918 issued $100,000 10-year 6% bonds to retire a ike amount of 2d
mtge. bonds which fell due on Jan. 1 1918.
consolidated
Interest.
Date.
STOCK AND BOND3Stock $200,000 ($100)
First mortgage $300,000-.
Outstanding.
$200,000
Maturity.
See text
5 J-J
300,000 July 1 1934
Interest at Warren (Pa.) Trust Co., trustee.
1904
2d mtge. gold bonds
1918
„
100,000 Jan
6%
1
1928
in 1910, 8%; In 1911. Jan., 2%;
In 1912, Dec.. 2%; in 1913, July. 4%; In 1914. 8%; In 1915 and 1916, 6%;
n 1917, 6%.
None to Jan. 1919 when 3% was paid; July 1919, 3%.
Dividends.—In 1908, 4%;
in 1909, 8%;
EARNINGS—For years ending Dec. 31:
Gross.
Net.
Int.&Tnx. Rentals
Year—
$119,584
130,000
1918
1917
$31,826
52,913
$7,620
8,095
$2*.515
27,855
Divs.(6%)
$12,000
Sur.orDef.
def.$4,310
sur. 4,064
ROAD.—Operates 21 Yx miles of track from Warren, Pa., to Jamestown,
Enters Warren over tracks of Warren Street Ry.
Does ah express
business.
Standard gauge.
70-lb. rails.
6 cars.
N. Y.
V.-P., Homer M.
Warren.—V. 86, p. 482.
OFFICERS.—Pres. & Gen. Mgr., David H. Siggins;
Sec., Treas. & Supt., S. Q. Smith, all of
Preston;
Stock and Bonds.—The preferred stock became cumulative on June 1 1904;
The remainder of the consol. bonds ($5,857,650) are reserved for the retire¬
ment of underlying liens.
Entire issue is subject to call upon 3 months*
notice
on
any
interest date at 105 & interest,
v
Dividends.—On pref. at rate of 5% per annum since Dec. 1 1904 to and
incl. Dec. 1919.
March 1 1920 div. deferred.
V.?110, p. 765.
On com.,
1st div. was paid Dec. 1 1909; in 1910, 2%; in 1911, 2%; in 1912, 4%; in
1913, March, 1%; June, 1H%; Sept., \ XA%\ Dec., 1H% and 1% extra.
1916, 7%.
In 1917, 6lA%.
In 1918, 5%.
1919, March, 1 XA%.
None since.
In 1914 and since to and incl.
In
Potomac
Electric
Power
BONDS—
Date.
First mortgage (see text) gold/ 1904
Cons
WINONA INTERURBAN RAILWAY
;
-
mtge
Company.
Interest.
Maturity.
Outstanding.
5 g J-D
$1,700,000 June 1 1929
c.tf\Int. at Comm. Tr. Co., Jersey City, trustee.
($1,000)
$7,000,000
($1,000) gu p &
warsaw, ind.
r
Of the 5-yr. gen. mtge. bonds. $150,000 in addition to the $1,000,000
outstanding has been issued and pledged for a loan of $125,000 from the
U. S. Housing Corp.
Bonds may be issued for 75% of the cash cost of
exta., addns. and betterm'ts, but only under certain restrictions.
During
the life of these bonds no additional underlying bonds may be issued.
Red. all or in part at 101 and int. upon 8 weeks' notice.
Listed on the
Washington Stock Exchange.
A portion of the property covered by the Met. RR. 1st mtge. may be
sold and proceeds applied to a sinking fund for the retirement of the bonds
at not exceeding 110 and int.
Bonds cannot be drawn.
Of the Anac. &
Potomac River bonds, $462,000 are guar., p. & i., by Washington Ry. &
Elec.
V. 87, p. 36.
$21,000 have been canceled.
gold/ 1906
5 g J-J
5,300.000 July 1 1936
i by Wash/Int. at Commercial Trust Co., Jersey City,
c.tf I
trustee.
mtge $5,000,000 ($100,1 1918
6 g J-J
3,600,000
July 11923
$500, $1,000) gold
_tf/Guaranty Trust Co., New York, trustee.
Gen'l impt. debentures
1915
6 F-A 1
750,000 Jan
1 1925
Ry & Electric Co
CO.
Gen
Default.—Oct. 1 1915 int. on Peru Div. bonds, and Jan. 1 1916 int. on
Goshen Div. bonds defaulted.
The proposed plan of reorganization^.101.
p. 1190) was not approved by the committee for Goshen Div. bonds.
Bonds.—Thefirst mtge. bonds are red. any Int. date at 110 & int.
increase passenger
Auth
originally $4,000,000, but was subsequently reduced to $1.700,000.
$7,000,000 new consols, $1,700,000 are reserved for prior Hens
They are guar., prln. and int., by Washington Ry. & Electric Co.
A
sinking fund of 2% per annum of bonds outstanding began Jan. 1 1908
On Dec. 31 1919, $576,000 were held alive in sinking fund.
See V. 83, p.
100.
The general mortgage bonds in the denomination of $1,000 are regterable as to principal.
The escrow bonds may be issued for only 75% of
the cash cost of extensions, additions and betterments.
The mortgage
provides for a maintenence and depreciation fund of 16% of the company's
annual gross operating revenue which began in 1918.
Red., all or in part,
at any time on 8 weeks' notice at 101 and int.
Interest payable in N. Y.
or Washington, D. C.
V. 107, p. 701.
The Gen. Impt. debentures are
guar., p. & i., by the Wash. Ry. & Elec. Co., and are equally secured with
the Gen. Mtge. bonds; red. at 102 A on any int. date.
Earnings of the
a
Potomac Electric Power Co. have been as follows:
Receiver.—C. J. Munton was appointed receiver on July 25 1916 on the
petition of the First Trust & Savings Bank, Chicago, and E. K. Boisot.
trustees, in suit to foreclose mortgage on Goshen Division.
V. 103, p. 408.
Committee for Goshen Div. 1st Mtge.
5s.—X. I). Mortimer, Pres. North
Co., N. Y., Chairman; H. H. Phillips, 209 So. La Salle St..
Chicago, Sec.; Central Trust Co. of Illinois, Chicago, depositary.
V. 101.
American
p.
1975.
common stock is held by directors.
FranLeases the Winona & Warsaw Ry. ($10,000 stock
operating
miles of track, for 99 years from Jan. 1
ORGANIZATION.—Entire
chises
are
for 50 years.
and $44,000 bonds),
1910.
Fare
Increase.—In May 1919 was auth. by the Ind. P. S. Comm. to
fares from 2.5 cents per mile to 2.75 cents a mile; to charge
straight 5-cent fare in Peru; to establish a 10-cent minimum fare, for interurban service, &c.
V. 108, p. 2242.,
Compare V. 107, p. 802.
STOCK AND BONDS—
Date.
Interest.
Common $600,000 ($100)
Pref $600,000 6% cumulative.
Outstanding.
Maturity.
See text
$150,775 —
750,000 July 1 1925
$750,000? 1905
5 g J-J
gold ($500 and $1,000)
lint, at First Trust & Sav. Bank, Chic..trust.
Peru Division first mortgage/ 1906
A-O
1,593,700' Oct 1936
Goshen
Div
1st M
(Union Trust Co., Indianapolis, Ind., trustee.
$2,000,000 gold-.-
Bonds.—Goshen Division bonds are a lien only on the section
tween Warsaw and Goshen.
are
of road be¬
Of the amount reported outstanding, $52,000
Are subject to call at 105 and
unsold but used as collateral for loans.
Int. on any Int. date.
Peru Division bonds are a lien only on section of road
between Peru and Warsaw.
Amount reported outstanding includes $290.-
200 bonds sold and $1,303,500 used as collateral for loans.
ending Dec. 31 1919, gross, $280,835; net.
In 1918, gross, $247,745; net, after taxes, $25,791-
EARNINGS.—For
year
after taxes, $38,932.
ROAD.—Operates 70 miles between Goshen and Peru.
Issue was
Of the
Calendar
Gross
—V. 101, p. 1093,1190,1975; Y. 103, p. 408;
V. 107, p. 802; V. 108, p. 2242.
washington, d.
WASHINGTON
RAILWAY
&
MileName
tomac Elec.
Pow.
See also V. 110, p.
1094 under "Po¬
6% debenture bonds on accounts of ex-ts., add'ns and impts.
In May 1917
the P. U. Comm. auth. the Potomac Elec. Power Co. to issue $1,127,000
Gen.
Impt. 6% Deb. bonds, of which $750,000 were sold forthwith.
V. 104, p. 2122.
Merger of Washington Car Lines Proposed.
110, p. 360.
See V. 109, p. 677, also V.
109, p. 1274. 1701; V.
1918 the Potomac Electric Power Co. issued $2,100,000 gen.
mtge. 6% bonds to finance the cost of a 15,000
k.w.turbo-generator and of
improvements and extensions.
V. 107^, p. 701.
In June 1919
brought out an additional $1,500,000 of this issue to finance the'cost of a
new 20,000 k. w. turbo-generator and of various other improvements and
extensions.
V. 108, p. 2246.
In Dec. 1918 the co. brought out an issue of $1,000,000 5-yr. gen. mtge.
bonds to be used in the purchase of 50 new cars costing $620,000, including
other
equipment, and to reimburse the co. for capital expenditures. V.107.P.2189.
In March
1920
was
auth. by the P. U. Comm. to issue $341,000 gen.
impt. 6s, proceeds to be used to reimburse co. for expenditures already
made and for the purchase of equipment.
V. 110, p. 1090.
Fares.—On Sept. 14 1918 applied to the P. U. Comm. of the
Columbia for auth.
District of
to abolish the 6-for-a-quarter tickets and establish a
straight 5-cent fare. V. 107, p. 1386. Compare V. 107, p. 803.
This appli¬
cation has been granted the straight 5-cent fare, becoming effective Dec. 1
1918.
V. 107. p. 2189.
On May 29 1919 was auth. by the P. U. Comm. of
the District of Columbia to charge 2 cents for transfers.
Effective Nov. 1
1919 was auth. by the P. U. Comm. to increase fares to 4 tickets for 25
cents or 7 cents for a single cash fare; transfers between the co.'s lines to
subject to a charge of 2 cents.
discontinued.
V. 109, p. 2358.
These rate terminate May 1 1920 upon which date the co. is authorized to
increase fares to 8 cents each with 4 tickets for 30 cents.
These rates con¬
be free, while inter-company transfers are
In Dec. 1919 inter-company transfers were
tinue
until
Jan.
1
1921.
Owned.
$162,950
275.000
275,000
1,682,650
197,150
a50,000
$2,475,000
Stock.
$2,367,750
$37,050
None
67,350
2,250
$107,250
Am't Not
Amount
Owned.
Owned.
Lighting—
$6,000,000
a50,000
None
Braddock Lt. & Power
$6,000,000
50,000
Total all companies
$8,525,000
$8,417,750
$107,250
Potomac Electric Power
a
the
The
Owned entirely by Wash. & Rockville Ry. Co.
x
Aug. 1 1919 int. on
$1,750,000 City & Suburban Ry. 1st M. 5s was paid Nov. 1 1919.
Feb. 1 1920 int. on these bonds was not paid when due.
V. 110, p.
464, 561.
Had not been paid up to March 29 1920.
The Washington Ry. & Electric owns directly or indirectly the following
bonds of the constituent companies, which, together with the shares of
stock owned above, are pledged under the $17,500,000 consol. mtge.;
$100,000 (entire issues) 1st & 2d mtges. of the Georgetown & Tenallytown
Ry.; $180,000 out of a total issue of $185,000 1st mtge. bonds of the Wash.
& Rockville Ry. (remaining $5,000 being owned by the Wash. Ry. Relief
Association); $200,000 1st mtge. and $50,000 2d mtge. (entire issues) of
the Washington & Glen Echo RR.; $150,000 (entire issue) Washington
Interurban RR. 1st mtge. bonds.
Total, $680,000.
EARNINGS.—On all
properties for calendar years:
1919.
Revenue
Free
1918.
1917.
91,488,735
80,779,210
66,044,230
68,545,481
20,882,760
23,002,522
1 9,617,337
-..$9,003,920
*7,110,621
$7,035,500
*5,082,546
$5,492,359
*3,791,264
21,489,744
$5,539,465
$1,893,299
80,298
$1,952,954
41,749
$1,701,09.5
37,203
passengers
transfers—
Gross
earnings
Expenses and taxes
*3,280,486
$2,258,979
27,510
Total
income.
$1,973,597
$1,994,703
$1,738,298
$2,286,489
Fixed charges
.$1,591,982
$1,320,591
$1,224,150
SI.194,035
Div. on pref. stock (5%)425,000
425,000
425,000_ ,425,000
Div. on com. stock...(1 ^%)81.250(5%)325,Q00(6%)422,500(7%)455.000
Net
Other
Favorable Rate Decision.—See 1914 annual report in V. 100, p. 1251.
Aug.
72.974
railroads
Name of Company—
Am'tNm
Owned
Amount
1,750,000
200,000
50,000
Capital
In 1916 acquired control of Washington-Inter urban Ry. (SH m.) through
purchase of its outstand. securities by the Washington&Rockville Ry. Co.
On Jan. 16 1915 the stockholders of the Wash. Ry. & Elec. Co. and the
Potomac Elec. Power Co. each authorized an Issue of $1,000,000 gen. irnpt.
In
.
Total
d
1081.
1,027,782
1,015,425
Capital
Stock.
$200,000
age.
8.50
Washington & Rockville Ry... 14.436
xCItr & Suburban Railway
.41.593
Washington & Glen Echo RR
Washington Interurban RR— 8-445
c.
perpetual.
109, p.
Co."
of Company—
Georgetown & Tenallytown RR
ELECTRIC.
ORGANIZATION.—Incorporated as the Washington & Great Falls Elec*
trie Ry. Co. July 29 1892 by special Act of Congress; name changed to Wash¬
ington Ry. & Electric Feb. 1 1902.
In 1902 acquired control of the Poto¬
mac Electric Power Co.
On Feb. 4 1902 purchased the assets of the Wash¬
ington Traction & Electric Co., sold at foreclosure Nov. 24 1901, and re¬
organized according to plan in V. 73, p. 554, and acquired the Colum¬
bia Ry. and the Metropolitan RR. by deed in fee, subject to their mortgage
debt.
The last two roads constituted 57.71 miles of track.
During 1912
merged with the Anacostia & Potomac River RR. (25.21 miles) and the
Brightwood Ry. (12.45 miles), both of whose stocks had previously been
owned.
In 1912 also transferred to the Potomac Elec. Power Co. the com¬
pany's interest in the Great Falls Power Co.
Company furnishes power
to the Wash. Bait. & Annap. Elec. Ry., the Washington-Virginia Ry., the
Wash. & Old Dominion Ry. Co., and other local companies.
Franchises
Valuation.—See V.
1,140,018
Annual interest charges on outstanding bonds, including the
$2,100 debenture bonds now amount to $611,000.
Property, &c.—The Washington Ry. & Elec. Co. controls the principal
street railroads In the District of Columbia and also the Potomac Elec. Pow.
Co. which alone is operating, or authorized to operate, In the national
capital and which controls the Great Falls Power Co. with undeveloped
water power on Potomac River.
The railroad companies have 176.52 m.
of track (all under electric traction), while the electric light company has
298 miles of subways with about 1,025 miles of ducts, besides many miles of
overhead wires.
Owns 710 cars.
No. of meters Dec. 311919, about 41,559,
Generating capacity of power co., 90,000 k. w.
The following shows the total outstanding stock of the companies con
trolled and the amount of the total shares acquired in each instance by the
Washington Ry. & Elec. Co. up to Dec. 31 1919:
«
Leasea.4^ miles
Aud.. H. O. Weimer.
1917.
1918.
1919.
.$3,683,295 $3,071,814 $2,639,587
000
of track between Warsaw and Winona Lake.
OFFICERS.—Gen. Mgr., J. G. Schade, Warsaw;
Year—
receipts
Net available for interest..
earnings—
income
—
Surplus
*
Includes
def.$124,635 def.$75,8S8 adf.$333,352
of equipment in accordance with
depreciation
$212,454
Inter-State
Commerce Commission classification of accounts. *
a
The deficit in 1917 was due
principally to
lines during March and April 1917 and to the
a 51-days* strike on the co s
increase in operating costs.
OFFICERS.—Pres., Wm. F. Ham; V.-P., Allen G. Hoyt; V.-P. & Sec.,
S. R. Bowen; Treas., A. M. Fisher; Asst. Sec.-Treas., Wm.L. Clarke;
Comp.. A. G. Neal.
General offices, 14th and C Sts., N. W., Washington
—V. 109.p. 1274, 1368, 1610, 1701, 2358; V. 110, p. 262, 360, 466, 765,
1090,15277
WASHINGTON &
MARYLAND~RY.
ORGANIZATION.—Incorp. In Maryland as successor to
Transit Co. of Maryland, sold under foreclosure.
The P. U. Comm. of the D. of O. has auth. the co. to
Bait. <fc Wash
issue $66,000 gen
and $30,000 prior lien 6% bonds; has also approved
by which the Capital Traction Co will operate the co's lines
will be used to complete purchase of the proper tie#
of Bait. & Wash. Transit Co. in Maryland, and the 5H% prior Hen bond*
will be used as collateral for $25,000 1-yr. 6% notes, the proceeds of which
6% 30-yr. bonds
a
contract
Proceeds of the 6% bonds
will b<!» used for ext. and Impts.
Bonds.—Of the Wash. Alex. k Mt.
ROAD.—Operates about 3^ miles of track from 14th & Kennedy 8ta.,
District line at Tacoma Park, Md.
Extension of 1 mile built
District line and through service operated by the Capital Traction
Co. since May 11 1918.
60 and 100-lb. T rail; girder rail on new extension.
Transfers passengers at 14th and Kennedy Sts. to Capital Trac. Co. One
fare any place in Dist. of Col.
Four cars of the Capital Traction type.
The bonds are subj. to
N. W., to
By.
Int.
fall
the
of
trolley road.
1916, May,
1918,that company having completed the build¬
extention to the sanitarium near Takoma, Md.
109, p. 1079.
1
Wage Increases.—See V. 105, p. 1897; V. 107, p. 1191.
Fares.—In 1918 was auth. by the P. U. Comm. to eliminate the rate of
6 tickets for 25 cents and to establish a straight 5-cent fare.
Effective
June 1 1919, was auth. to charge 2 cents for transfers.
V. 108, p. 2432.
Effective Nov. 1 1919 was auth. by the P. U. Comm. to increase fares to
4 tickets for 25 cents or 7 cents for a single cash fare; transfers between the
p.
P.
Year—
1919
1918
1917
-
Grey: Sec.. Gardner L.
319; V. 107, p.
168.
,
Dale.
STOCK AND BONDS—
Maturity.
Outstanding.
Interest.
Q-J
$3,000,000
See text
Common $3,000,000 ($50)
6 Q-M
1,759,250 Apr '20.
Pref $2,500,000 ($50) 6% non-c
1911
5 M-S
x6.121.000 Mar 11941
First
mortgage
$7,500,000
($1.000)
c»tf Int. at Cleve. Trust Co., Cleve., or Safe Dep.
Md.
Includes $752,000 bonds In treasury.
x
110.
Stock and Bonds.—Pref. stock is red. at
Bonds are subject to cal.
105 on any interest date.
at
initial div.—1H%—paid Oct. 1912; Dec., 414%.
Has paid 1H% quar. since to and Incl. Apr. 1920.
31 1917. In 1918, Jan., 3%; Apr., 2%;
July, 2%; Sept., 2%.
In Jan. 1919 7A% was paid in Liberty bonds.
V. 107, p. 2377.
In 1919, April, 2%; July, 2%; Oct., 2%.
In 1920.
Jan., 1H%; April, 1%.
Dividends.—On pref.,
-.---
making 6% for the year.
1919, 90,515,022 revenue and 13,012,131 transfer passengers were
carried, against 79,185,754 and~21,329,256 in 1918.
Initial div.—3%—paid on com. Oct.
single track (lncl. 2^023 miles operated
trackage agreement). 47.436 miles; overhead trolley, 10 922 miles,
dngle track.
Total length of road (incl. 8.028 miles sidings and turnouts) ,
under
(1919 report In V. 109, p. 1291):
Other
lnt.,&c..
Balance,
Income.
Charges,
for Divs
$2,168,120
$596,007
$18,595
$295,202 $319,400
2,902,015
765.495
17,953
288.913
494.535
passengers carried in 1919, 4,608,875, against 5,946,69/ in 1918.
EARNINGS.—For years ending Dec. 31
Calendar
Gross
Net (after
miles of single track.
Operates 360 closed motor cars, 121 open
84 elostxl trailers,
99 open trailers, 9 snow sweepers, 5 sand
33 miscellaneous; total, 710 cars.
80 to 104-lb. rail.
69.573
motor cars,
Years—
1919.
V.-P. in Charge of Operation,
H. D. Crampton: Treas., R. D.
OFFICERS.—Pres., Geo. E. Hamilton;
V. 108, p.
1099. V. 106.
1610; V. 110,
ELECTRIC RR—A
& Trust Co., Baltimore,
flimms.—V. 106, p. 497. 1460. 2118: V. 107, p. 180. 1191;
V. 109, p. 1079, 1272, 1609, 1700; V. 110, p. 359, 561.
1
Boothe. Wash.:
W. King.—V. 105, P.
803; V. 108, p. 2434; V. 109, p. 1081. 1274,
,
Int. and
DiviBalance
Earnings.
Dejrrec'n.) Income.
Taxes
\ dends.
Surplu*
-$4,535,661 $1,704,502 $12,941 $603,951
$720,0001393,492
3,529,855
1,446,794 13,680
572,385 (6%) 720,000 168,089
2.783.538
1.250.209 16,262
469.941 (6)4) 750.000
46,530
J. H. Hanna :V.-Pres., D. S. Carll; Sec.,
$540,950; net
No later state¬
</v<o
In
cars,
surplus, $96,546.
Annapolis Elec. Railway, sold at foreclosure (V. 92, p. 796. 957). per Plan
to V. 91. p. 1328. 1386.
Private right-of-way.
■
The Annapolis Public Utilities Co. was Incorp. In May 1912 as a sub. co.
and took over the Annapolis Gas k Elec. Co., which had
outstanding
$100,000 stock and $280,000 bonds.
V. 96, p. 555.
The Annapolis Public
Utilities Co. has $300,000 auth. com. stock, $172,700 issued.
Wage Increase.—V. 105, p. 2273.
.
„ OA ocr
On Oct. 15 1919 the stockholders auth. the issuance and sale of 20,880
shares of 6% non-cum. pref; stock (par $50) at $37 50 per share.
Stock¬
holders (both com. & pref.) were given the right to subscribe to the extent
of 23.43% of their holdings.
V. 109, p. 1610, 1793.
1907
ROAD.—Underground trolley
first
ORGANIZATION.—-Incorp. in Maryland on June 6 1905 as Baltimore
Terminal Co.
On March 31 1911 amended Its charter, changed Its name
to Wash. Bait. & Annapolis Electric RR. and took over the Wash. Bait. &
1921.
REPORT.—For calendar years:
Gross
Net (after
Other
Calendar
June 30 1913. gross,
WASHINGTON BALTIMORE Sc. ANNAPOLIS
•lngle-phase electric road.
8 cents cash, with 4 tickets
Date.
.112.000,000 ($100)
first mortgage $6,000,-f
end.
OFFICERS.—Pres.. Norman
Interest.
Outstanding.
Maturity.
Q-J
$12,000,000
See text.
5 g J-D
5,606,000 June 1 1947
000 gold ($500)
Cj Int. at Union Tr. Co. of the D. of C., Wash.,
[
trustee.
Bonds.—Are not subject to call.
Part of the bonds issued were used to
redeem the $1,080,000 outstanding 4% bonds of the 1900 issue.
$200,000
of bonds are in co.'s treasury and $194,000 are in co.'s ins. reserve fund.
Dividends.—In 1898, July I, 75c.; Oct. 1, 75c.; in 1899, four dividends of
75c. each; in. 1900, 354%; in 1901, 4%; in 1902, Jan., 1%; April. 1%.
July, 1%. and on Aug. 20 an extra dividend of $4 per share was paid from
proceeds of sale of old power house; Oct., 1%; in 1903, 454%; in 1904, 5%,
In 1905, 5*4%; 1906-1913 Incl., 6% ann.;in 1914. Jan., VA%: April. 1^%:
July, l:A%.
In Oct. rate was reduced and 1 % % was paid; same rate
was paid quarterly to and including July 1918.
In Oct. 1918 1 Vt% wai
paid; same rate quarterly since.
In Dec. 1917 an extra dividend of 154%
was paid.
In Aug. 1918 an extra dividend of 54 % was paid.
STOCK AND BONDS—
mos.
Treas., J. C. Freeland; Gen. Mgr., R.
Proposed Merger Plan.—See V. 109, p. 1272; V. 110, p. 359.
New
Nov.
common,
ROAD.—Operates from Washington, D. O., to Alexandria, Mt. Vernon.
Arlington, Ft. Meyer, Rosslyn, Clarendon, Vienna and Fairfax.
Total
track. 63.34 miles.
Standard gauge.
79 cars (of which 59 are passenger).
an
co.'s lines to be free, while inter-company transfers are subject to a charge
of 2 cents.
These rates terminate May 1 1920, upon which date the com¬
Stock
12
$297,114; bond Int. & taxes, $200,568;
ment has been received.
Valuation.—V.
1
1 H%.
In Nov. rate was
1%.
No later Information.
EARNINGS.—For
took over the operation of the line of the Washington & Mary¬
pany has been authorized to increase fares to,
for 30 cents.
These rates continue until Jan.
1914rMay,
In
1895
land Railway Co. on May 2
ing of
1911;
15
kju
1912 and 1913. 3%.
reduced and 1% was paid.
In
—
_
_
Georgetown and Rock Greek companies.
company
N. Y., Is trustee.
HJnchman,
Walter
absorbed the Washington &
See V. 61, p. 283, 328, 588.
Operating Agreement.—By an agreement entered into on Feb. 20 1917
ORGANIZATION.—In
uP°n^
110 and int.
F. O. 1st consols are
are for betterments.
Bonds were guar., p. & 1., by endorsement by Wash. Alex, k Mt. Ver.
Subject to call on any int. date at L05 and int. on a mos. jrotice.
on the Wash. Arl. & Falls Cnurcn Ry 1st M. bonds, payable in Phlla.
&c.
OFFICERS.—Pres., Chas. Selden Jr., Washington, D. C.; V.-P., R. W.
Williams, Baltimore, Md.; Sec.. Martin M. Little; Treas., Norton MLittle.
Office, 1413 H St.. N. W.
CAPITAL TRACTION.—An underground
In treasury.
Ver. 1st M., $130,000 are
call on any int. date at
See V. 80. p. 1176.
$350,000 Wash. Ar . &
reserved for prior Hens, $48,000 are in treas.; remainder
uotlce.
from
the
[Vol. 110.
ELECTRIC RAILWAYS
134
1918
Revenue
2132;
Taxes).
Earnings.
ROAD.—Operates 117.8116 miles of track between Baltimore, Washing¬
and Annapolis, of which 13.94 miles are operated under contract.
En¬
Washington over tracks of Wash. Rjr. k Elec. Co.
80-Ib. T rails.
Standard gauge.
Automatic block system in single-track or entire line.
161 cars.
Power is purchased from Potomoac Electric Power Co. of Wash¬
ington.
ton
ters
WASHINGTON UTILITIES CO.—A holding company.
ORGANIZATION.—Incorp.
Virginia
In
(as
Maryland-Virginia Ry.)
Nov. 29 1911, amended Feb. 28 1912 and Nov. 7 1912. when the name was
changed to the above.
On Nov. 26 1912 merged with Washington-Virginia
Ry., but the latter company (see statement below) was obliged to resume a
separate existence, owing to refusal of the subsequently created Utilities
Oomrn
of the Dist
of Columbia to allow the merged corporations to Issue
securities
provided for In
the merger agreement.
Owns
Bait.; Sec., Geo. W. Williams. Bait.: Treas..
Aud., W. H. Wright, Bait.—V. 107, p. 2377: V. 108, p. 1276,
1274, 1462,1610, 1793, 2358; V. 110, p. 1090, 1189,1291.
150 shares of
Braddock Lt. & Pow. Co. stock (valued at $20,000). $300,000 (of
F. H. Ginn, Cleve;
Mgr., J. J. Doyle
Wm. M. Garrett Baltimore,
OFFICERS.—Pres.. Geo. T. Bishop. Bait.; V.-Ps.,
A. Ilemenway, Booneville. Ind.: V.-P. & Gen.
Jas.
2434; V. 109.
p.
$300,350)
Washington & Great Falls Ry. & Pow. Co. stock, and $575,100 com. and
pref. stock of the Washington-Virginia Ry. Co.
Default.—The June 1 1919 int. on the coll. trust 5% notes having been
defaulted, the following protective committee (reorganized V. 109, p. 271)
of
WASHINGTON
$282,000
was
formed:
for Coll. Trust 5% Notes.—Robert N. Harper, Chairman; Wm.
Galliher, John Poole. Geo. W. White and C. W.
Warden, all of Washington, and Harold B. Thorne and Henry D. Harlan,
both of New York City.
Depositaries: Metropolitan Trust Co., N. Y., and
Ihe American Security & Trust Co., Washington, D. C.
Up to early in
Sept. 1919 $1,306,000 of the notes had been deposited with the committee.
V. 109, p. 271.
Compare V. 108, p. 2424.
Sale of Collateral.—Default having occurred on the co.'s coll. tr. 5%
notes, the security pledged thereunder, viz., 27,500 sharas Wash. Ry. &
Elec. Co. common stock was sold Oct. 1 1919 to the noteholders' committee
Committee
E. Cadwallader, W. T.
named above.
V. 109, p.
Dale.
Stock
Interest.
*
Collateral trust notes $1,500,-1 1917
5%
000 ($1,000)
;
(Metropolitan Trust
EARNINGS.—For calendar year
1913, gross, $233,152; net. after de¬
ducting interest, &c., $132,473: dividends, $107,160; bal.. sur.. $25,312.
No later statement has been received.
A Treas., J. C.
1081, 1368.
Grey: Sec.
V. 108. p. 2424; V. K)9, p. 171, 677,
WASHINGTON-VIRGINIA
Freelund.—
RY. CO.—Underground trolley in Wash
ington, overhead outside.
Washington Utilities Co.
$282,000 of the preferred.
owns
ORGANIZATION.—Incorp.
$575,100
of
the
common
stock
and
In Va. Oct. 15
1913 to take the place of
which was Incorp. In Virginia on June 22
1910.
The old co. on Oct. 20 1910 merged into the Washington Alexandria
k Mt. Vernon Ry. (stock $1,500,000) and Washington Arlington & Falls
Church Ry. (stock $500,000).
Has private right-of-way; franchises Id
cities perpetual.
The oid company was merged on Nov.
but was subsequently obliged to resume
Utilities Oo. above and V. 98. p. 691.
29 Into the Wash. Utilities Co.,
separate existence.
See Wash.
auth. to charge 2 cents additional for transfers.
V. 108, p. 2434.
Effective Nov. 1 1919, was auth. by the P. U. Comm. to
increase fares to 4 tickets for 25 cents or 7 cents for a single cash fare; trans¬
fers between the co.'s lines are free, while inter-company transfers are sub¬
ject to a charge of 2 cents.
These rates terminate May 1 1920, upon which
date the company has been authorized to increase fares to 8 cents cash,
with 4 tickets for 30 cents.
These rates continue until Jan. 1 1921.
Effective June 1 1919, was
Interest.—The March 1
1919 int.
on
mtge. 5s was not paid until July 1919.
paid in Jan. 1920.
V. 110, p. 168.
STOCK AND BONDS—
Date.
Common $2,000,000 ($100)
Pref $1,000,000 ($100) see text
the Wash. Alex. & Mt. Vernon 1st
The Sept. 1 1919 int. on this issue
Compare V. 109, p. 1081, 1274.
Outstanding.
Maturity
M-N
$1,378,300
See text
M-N
1,000,000
See text
Interest.
Alex k Mt Ver 1st M/ 1905
5 g M-S
2.370,000 Mar 1 1955
$2,500,000 ($1,000) g_-_c*(lnt. at Real Estate Tr. Co., Philadelphia.
Arlington & Falls Ohurcn Ry Issues—
1st M $100,000 gold
1895
6 J-J
100,000 July 1 1925
2d mtge $350,000
1 1903
6 A-O
250,000 April 1 1953
(interest at Merchants' Tr. Co., Phlla., trust.
Wash
Wash
First
consol
mtge
000 gold ($1,000)
$1,000,-/
c*(
1908
5 g M-S
602,000 Sept 1 1958
Int. at Girard Trust Co., Phila.. trustee.
800,000
Stock.—Pref. is entitled to cum. divs. of 3% for year ending Nov. 1 1911,
*% for next year and 5% yearly thereafter.
Stock listed in Phlla. k Wash.
Notes
Colin H. Livingstone;
V.-Pres., E. B. McLean,
Sec.-Treas., A K. Stratton; Gen. Mgr., J. V. Davis.
OFFICERS.—Pres.,
Corcoran Thorn,;
Office, Washington, D. C.—V. 95, p. 482.
WATERLOO, IOWA.
WATERLOO CEDAR FALLS & NORTHERN RY.
the company, which for
operated by the U. S. Railroad Administration, was re¬
Released from Federal Control.—On Feb. 29 1920
a
time had been
leased from Government control
.
ORGANIZATION.—Incorporated In Iowa in 1895 as Waterloo k Cedar
changed to above in 1904 by amending articles
of incorporation.
Line opened between Waterloo and Cedar Rapids
8ept. 13 1914.
Connects at Cedar Rapids, la., with the Chic, k N. W.
Ry. and Chic. Mil. & St. Paul Ry.
Franchise.—The company accepted the franchise approved at a speeia)
election held on
Dec.
5
1917,
which provides for a reduced rate of
25 tickets for $1 between 6 and 8 a. m. and 5 and 7 p. m., and special rates
to school children.
The franchise also provides that whenever the gross
Income for the whole line shall be 5 cents per car mile in excess of cost of
Falls Rap. Transit; name
operation, thereafter the company shall share with the city on all such
the basis of 90% to the company and 10% to the city
V. 105, p. 2186.
Interest Unpaid.—The July 1 1918 and Jan. 1 1919 int. due on the co.'s
bonds was not met when due, but has since been paid.
excess revenues on
former company of the same dame
was
RY.
$451,697.
gross,
Co., N. Y., trustee.
by pledge of $2,750,000 com. stock of the WashRy. k Elec. Co.
Red. at par and int. on any int. date on 30 days' notice.
Dividends.—Initial div# of ^ of 1% paid July 1 1912. 1 In 1913, 1%%.
In 1914, 2%.
In 1915, Jan., 1%.
No later Information.
Norman
.
Maturity.
See text
Outstanding.
$5,468,000
1,500.000
Notes.—Are secured
OFFICERS.—Pres..
OLD DOMINION
Compare V. 109, p. 1081.
1368.
STOCK AND BONDS—
&
ORGANIZATION.—Incorp. in May 1911 to Virginia as successor to the
operating a 15-mile line between Wash
Ington, D. O., and Great Falls, Va.
Has leased for 50 years from June 1912
and has electrified the Bluemont branch of the Southern Ry., extending
from Alexandria to Bluemont, Va., about 54 miles.
In 1912 completed a
12-mile connection between Washington and Alexandria.
Total road oper
ated, about 81 miles.
Gross earnings for cal. year 1918, $523,224; in 1917
Great Falls & Old Dominion RR.,
Outstanding. % Maturity
.$1,963,000
6%
664,000
See text
1910
5 g J-J
5,773,000 Jan
1 1940
(int. at First Tr. & Sav. Bk.. Chic., trustee
310,000
66,550
Date.
STOCK AND BONDS—
Common ($100)
$3,335,000
Interest.
—
Pref stock $1,665,000 cum
First mtge gold
$6,000,000/
($1,000)
2nd Mtge (closed)
Car trust notes
...
....
...
Bonds.—Remaining bonds can be Issued at 82H% of cost of extensions.
Subject to call upon 60 days' notice at 105 and int.
Annual sink, fund of
2% of bonds out began with fiscal year ending Dec. 31 1012.
Louis BoLot
is also trustee.
years.
Car trust notes mature in small amounts over a period of
V. 90. p. 850, 915; V. 93. p. 528, 591.
Dividends.—6% per annum was paid on pref. stock from 1913 to 1916
incl.; 1917 div deferred (V. 106, p. 398).
to
ROAD.—Owns and operates a line on private right-of-way from Waverb
Cedar Rapids, 83 miles, with a branch from Waterloo to Cedar Falls
and
Normal, 9 miles, and
owns
a
belt, line of 7 miles around Waterloo.
Also
and operates under satisfactory franchises, 23 miles of railway in the
Cedar Falls; total track, 136.55 miles.
Has joint
cities ,of Waterloo and
traffic agreements with the
Chic. k North Western. O. M. k St. P., Chic
Interchange of
60, 75 and 85-lb. T rails v
Gt. West., Illinois Cent, and the O. R. I. k Pac. railroads for
freight, passenger, mall and express business.
69 passenger, 4 baggage and express and 148 freight cars,
7 electric engines
and necessary work cars, snow plows, sweepers. &c.
EARNINGS.—Calendar Year*—
Gross
$875,529
35,768
^
Net (after taxes)
OFFICERS.—Gen.
1919.
Mgr.,
Burk; Federal Auditor, J. B.
1918.
1917.
$828,524
284,323
Federal Treas., W. H.
$752,139
8,822
C. D. Coss; Acting
Knowles.—V. 108, p. 1513.
,
1920-1
ELECTRIC
WATERVILLE, MAINE.
WATERVILLE FAIRFIELD
tions.
Watervllle A Oak¬
land St. Ry., but In 1911 Increased Its stock from
$100,000 to $500,000
($100) and changed name to present title.
V. 93, p. 1602.
The $400,000
additional stock
as tne
Maine Pow. Co. to pay that
company for having retired outstanding bonds of the Watervilie A Oakland
St. Ry. and for procuring the conveyance of the street
railway property
formerly belonging to tne Watervllle & Fairfield Ry. & L. Co.
The Cen
tral Maine Power Co. assumes and agrees to pay all liens, claims and in¬
cumbrances of every kind attaching to the property formerly owned by the
Watervilie & Fairfield Ry. & Light Co.. so that the Watervilie Fairfield &
Oakland Ry. now owns both railroads, which connect at Watervilie
V. 93, p. 1790.
Waterv. Fairfield & Oakland Ry. has no bonds.
was
turned
over to
the Central
tified began Dec. 1 1919 to purchase or call bonds at. 103 & int.
$22,000
are in sink. fund.
Cont. & Com'l Trust & Sav. Bank, Chicago, trus.
bonds
EARNINGS.—For
cal. year 1919, gross, $485,457; net, after
In 1918, gross, $328,611; net, after taxes, $128,954.
$182,992.
Oakland,
21
pass,
operates 60 miles single-track
equiv.;
standard
gauge; 70, 80 and 85-lb. rail.
Also operates under contract 5.3 miles in
Wichita and Hutchinson.
Power is purchased from the Kansas Gas &
Electric Co.
OFFICERS.—Pres., George Theis Jr., Wichita; Sec., R. B. Campbell;
Gen. Mgr., C. H. Smyth; Aud. & Asst. Sec., C. Basse.—V. 104, p. 1144.
WILKES-BARRE, PA.
OFFICERS.—Pres., Harvey D. Eaton: V.-P., Walter S. Wyman; .Sec.,
E. A. Ballantyne; Treas., Walter S. Wyman; Gen. Mgr., N. R.
Longfellow
Aud.. H. D. Jennings.—V. 93,
p.
1602, 1790.
WISCONSIN
Street RR.
creased
In Dec.
from
1915
$400,000 to
name was
$800,000.
changed
At
a9
the
the Wausau
as
above and stock
was
in¬
time
purchased the
Merrill Ry. & Power Co. and the Lindauer Pulp & Paper Co's. plant ot
Merrill,
in Nov. 1916 purchased the property of the Stevens Point Light¬
ing Co. and Stevens Point Power Co.
Furnishes electric-light and power in Wausau, Stevens Point, Merrill and
contiguous territory, and owns and operates an interurban street railway
of 9
miles of track between Wausau and Rothschild; also a street railway
at Merrill and a gas plant at Stevens Point.
Franchises extend to 1940
Fare Increase.—In Jan. 1919 was auth. by the Wise. RR. Comm. to
increase fares from 5 to 7 cents.
V. 108, p. 482.
To Discontinue Service in Merrill.—In Dec. 1919 t-lie
company notified
the city of Merrill, Wis., that it would discontinue service in that city on
Dec. 31 1919, the date the company's franchise expired.
The city authori¬
ties appealed to the Wise. RR. Comm.
V. 109, p. 2441.
STOCK AND BONDS.—
Date.
same
Interest.
Outstanding.
Maturity
$800,000
250,000
First & Ref M, $15,000.0001
1947
5 M-N
1,033.500 May I 1942
($100, $500& $1,000)c*—lint, at First Nat. Bk., Mjlw., or Wisconsin
I"
Val. Tr. Co., Wausau, Trustee.
Common stock. $800,000-_
Preferred stock
Bonds
on
Point
EARNINGS.—For cal. year 1919, gross, $2,087,877; net, after oper.
rentals & taxes, $67,758.
In 1918, gross, $1,633,229; def., after
exp., rentals & taxes, $152,027.
OFFICERS.—Pres.. Abram Nesbitt; V.-P. and Gen. Mgr., T. A. Wright,
Sec. & Treas.. C. W. Laycock.—V. 92, p. 957; V. 103, p. 2343; V. 107,
p. 1102.
_
—_
(1) Wilkes-Barre & Wyoming Valley Traction.—The United Power &
Trans, owns 49,992 out of the 50,000 shares of stock.
Lease.—Is leased to the Wilkes-Barre Ry. Go. (see above). V/89, p.1598.
ORGANIZATION.—Incorporated Feb. 9 1891; controls street railway
lines in the Wyoming Valley, Pa., extending from Wilkes-Barre to Duryea
and Nanticoke on east side of Susquehanna River and
Plttston and Ply¬
mouth on west side.
In Dec. 1902 made collateral trust mtge. for $250,000
to purchase stock of the Wilkes-Barre Dallas & Harvey's Lake Ry. Co. and
for other purposes.
On July 1 1904 leased the Plymouth & Larksvllle Street
Ry. for 999 years at 6% on $75,000 stk. and int. on $75,000 5% bonds.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock (par $100) $5,000,000—all but 8 shares owned by Un. P. & T. Co.
1st
mtge
$1,500,000
gold/ 1891
5 g A-0
$1,500,000 April 1 1921
($1,000)
c* (Interest at Provident Life & Tr. Co., Phila.
Collateral trust and mortgage/ 1895
5 g J-J
257,000 Jan. 11925
$325,000 gold
lint, at Anthracite Sav. Bk., Wilkesbarre, Tr.
Collateral trust and mtge gf 1902
5 g J-D
250,000 Dec 15 1922
($1,000)
(closed
/:
$250,000
Underlying Bonds
on
c*|Int.at Real Est..TItle,Ins.&Tr.Oo..PhIla.Tr.
Roads Purchased—
5 %
40,000 July 1 1928
Wilkesbarre & Suburban bonds
Guaranteed Bonds—
Merrill and Stevens
properties
Auth. stock, $1,500,000; Is-
oper.
VALLEY ELECTRIC CO.
ORGANIZATION.—Incorp. Aug., 28 1906 in Wisconsin,
ORGANIZATION.—Incorp. Nov. 26 1909.
^ed, $900,000.
Leases Wilkes-Barre & Wyom. Val. Tr. Co. for 800 yrs.
from Jan. 1 1910 at rental of $360,000 the 1st yr., increasing $10,000 every
two years until the maximum of $400,000 is reached, and all obligations
in the way of Int.. taxes, &c., of W.-B. & W. V. Trac.
Operates about
113 miles of track.
exp.,
1
WAUSAU, WISCONSIN.
WILKES-BARRE RAILWAYS CO.
10-8
and 2
taxes,
ROAD.—Owns and
year end. Dec. 31 1918, gross, $104,108; net, after
In 1917, gross, $96,236; net, after taxes, $12,106.
ROAD.—Extends from Fairfield through Watervllle to
miles.
Standard gauge.
58 to 90-lb. T and girder rail.
work cars, 2 snow-plows.
be Issued for up to 50% of cash cost of Impts.,
may
exfcs.. remaining $2,000,000 for 75% of such cost under restric¬
Callable at 103 and int.
Sinking fund of 2 % annually of bonds cer¬
or
EARNINGS.—For
taxes. $4,193.
135
BONDS.—$100,000
add'ns
OAKLAND RY.
&
ORGANIZATION.—Incorp. In Maine In 1902
RAILWAYS
v.
Bcrnds.—$244,000 are reserved to retire underlying bonds.
Additional
bonds may be Issued for 80% of cost of impts., when net earnings are twice
Plymouth Br Co 1st gold M/ 1894
5 g A-0
100.000 Oct
1 1924,
$150,000 guar prin & int._\Int.at Anthracite Sav. Bk., Trustee, Wilkes¬
barre $10,000 subject to call in 1904 and $3,000 yearly thereafter.
Wilkes-Barre & Kingston
5 F-A
90,000 Aug
1 1928
charges, including bonds to be issued.
12JHJ % of gross earning*
apply to maintenance, any part not so used to be added to sinking fund
which amounts to 1 % annually of bonds outstanding.
Red. at 102 and int
Wilkes-Barre & East 8ide Ry
5
150.000 See (4)below
Bonds.—Interest on the Wilkes-Barre & Kingston bonds reduced to 5% in
Aug. 1903 and bonds extended to Aug. 1 1918 and again to Aug. 1 1928 at
mortgages)
412.500
__
—
Interest
is to
on
any
int. date.
1918-19
$506,353
453,732
$287,858
260,321
$80,000
50,000
mnd bonds extended
Divs. Bal., Sur.
$80,000
$13,137
60,000
41,192
$114,721
109,129
LATEST EARNINGS.—For 6 months ending Dec. 31:
1919_
..$334,311
$185,026
$40,000
$78,039
$48,005
$18,981
PROPERTY.—Owns hydro-electric generating plants at Wausau,Merrill
and Stevens Point, and auxiliary steam generating plants at Wausau
and Stevens
Point; 11.08 m. track; 16 pass, and 2 other cars, 1 snow plow
OFFICERS.—Pres., O. C. Yawkey; V.-P., B. F. Wilson: Sec. & Treas.
M. C. Ewing.—V. 101, p. 2013, 2553; V. 108, p. 482; V. 109,
p. 2141.
WEBB
SOUTHWEST MISSOURI
CITY, MO.
ORGANIZATION.—Organized under the general railroad laws of Miaon
Sept. 1 1906 acquired the Southwest Missouri Electric Ry.
and the Webb City Northern Electric RR.
Date.
Interest.
Outstanding.
Maturity.
$3,500,000 See"earns. '
1,027,000 Sept 1 1931
($1,-1 Int. at Harrlsburg (Pa.) Trust Co., Trustee.
tfl
or National Bank of Commerce, N. Y.
_
$5,000,000 gold
gage
000)
Webb
City Northern
$200,000 gold
Soutnwest
Ry
Missouri
refunding
and
1906
c
5 g M-S
1905
mtge/
5 g M-S
200,000
of
COMPANIES CONTROLLED IN SYSTEM.—The following table
shows the several companies operated, their mileage,.capital stock, and the
amount of it owned by the Traction Company, their debt, and finally the
rental payable under 999-year lease; 6% here meaning 6% on the outstand¬
ing capital stock; and $1 meaning
only a nominal existence.
i
a
nominal rental, the company having
-Stock-
touri, and
STOCK AND BONDS—
to
Name of Company.
.
RAILROAD CO.
Stock $5,000,000
General and refunding mort-f
Int. on the Wilkes-Barre & Suburban bonds reduced in 1903 to 4%
to
July 1 1918.
Were again extended this time
July 1 1928 at 5%.
The Wilkes-Barre & Wyoming Valley co 1. tr. bonds
1902 are subject to call after 10 years at 105 and accrued interest.
5%.
1
EARNINGS.—For fiscal years ending June 30:
Year—
1
Gross.
Net.
Deprec. Int.,Tax.,&c.
1917-18
__
Sept 1923
tfllnt. at Safe Dep. & Tr. Co., Pitts., Trustee.
1903
5 g M-S
1.150.000 Sept 1 1923
Electric
exten-1 Harrlsburg Trust Co., Harrisb., Pa., Trustee
Issued.
Miles.
Coalville Passenger Railway
Nanticoke Street Railway
Debt.
Owned.
Rental
None
6%
$02,400
$36,300
9.68
None
6,000
6,000
$1
2.00
Plttston & Avoca St. Ry
13,500
$1
$65,000
13,500
Pittst. Moosic & P. V. St. Ry_„ 1.95
None
42,000
$1
42,000
8.82
Plttston Street Car
200.000
$1
200,000
76,000
Plymouth & Larksvllle Ry
3.45
75,000
6%
None
$1
Plymouth Street Railway
6.00
12,000
12,000
West Plttston & Wyo. St. Car., 2.25
None
$1
30,000
30,000
1 Wilkes-Barre & East Side
5.00
$1
150,000
150,000
*150,000
Wiikesb. & Kingst. Pass. Ry... 6.60
0%
100.000
99,700
90,000
Wiikesb. & Plains. Ry
$1
4-00
24,000
24,000
217,000
Wilkesb. & Suburban St. Ry.__10.00
100,000
93,600
40,000
6%
Wiikesb. Dallas & Harvey's L__13.01
200,000
193,750
150,000
(a)
Wilkes-Barre & West Side
9.63
100,000
92,450
6%
94,000
Plymouth Bridge Co
'
75,000
75,000
4 Entire stock and bonds deposited under collateral trust of 1895.
*
Entire amount owned by the W. & W. Valley Trac.
a Dividends in this case are dependent upon earnings.—V. 107. p. 1102.
5.67
~
—
-
—
—
—
_
sion mtge $l,500,000.__tf (Int. payable at Nat. Bk. of Commerce, N. Y
Bonds.—Of the $5,000,000 new bonds, $1,350,000 are reserved for prior
liens and $2,023,000 for improvements and extensions.
(a) Wilkes-Barre Dallas & Harvey's Lake Ry.—The Wilkes-Barre A
Wyoming Valley Traction Co. owns all tne stock.
EARNINGS.—For years ending Aug. 31:
Aug. 31
Gross
Net (after Interest Renewals
of the Wilkesbarre & Northern RR., sold by Sheriff in Sept. 1898.
Years—
1918-19
1917-18
1916-17
Earnings. Taxes).
$953,876 $356,013
741,727
245,981
747,820
333,861
Charges. & Bett's.
$128,330
125,388
114,536
69,462
Balance,
Surnlus.
$227,683
120,593
70.000
79,863
Dividends.
------
(2%)
ROAD.—Operates 91 miles of track connecting Carthage, Garterville,
Prosperity. Porto Rico, Duenweg-Oronogo, Neck City, Purcell,
Alba, Joplin, Villa Heights and Ohltwood, all in Missouri, and Galena In
Kansas.
An extension to Baxter Springs, Kan., 9 miles, was completed
Feb. 21 1918 and to Picher, Okla., on June 10 1918.
Webb City,
OFFICERS.—Pres.,
over, Harrlsburg, Pa.; Sec., Geo.
—V. 93. p. 752; V. 106, p. 716.
V.-P.,
W.
Reily; Treas., W. E.
E.
Z.
ORGANIZATION.—A reorganization in 1898, per plan in V. 60, p. 1190.
Road,
partly constructed, was completed and electrically equipped by new com¬
pany from Luzerne, Pa., there connecting with W'Ikes-Barre & Wyoming
Valley Traction to Harvey's Lake, Pa., 14.68 mhos,
Date.
Inlcres'
Outstanding.
Maturity
—Ail stock owned by W.-B. A W. Val. Trac.
5 g M-S
$150,000 Sept 15 1928
c*l Int. at Anthracite Sav. Bk.. Wiikesb., Trus.
STOCK AND BONDS—
Stock $200,000 ($50)
1st
mortgage
$150,000
gold/ 1898
($500).
—V. 69. p. 133.
-
WILMINGTON,
MpMechan.
TIDEWATER POWER
CHESTER,
PA.
ORGANIZATION.—Incorporated in Pennsylvania Aug. 4 1890.
Owns
Valley Electric Light, Heat & Power Co. and the Ooatesville
the Chester
Electric Light, Heat & Power Co.
Fares.—In April 1919 was auth.
Franchises perpetual.
by the P. S. Comm. to increase fares
between Coatesville and adjacent points from 5 cents to 6 cents.
STOCK AND BONDS—
Dale.
Interest.
Stock
$1,000,000 ($50)
First mtg $1,000,000
($1,000)/
Outstanding.
1902
5 g F-A
1,000,000 Aug 1 1932
gold
c*tfllnt. at West End Trust Co., Phila., Trustee.
Bonds.—No sinking fund and bonds not subject to call.
Earnings—
Gross.
Net.
Int.&Tax. Deprec. Surplus.
Calendar year 1919
Calendar year 1918
-$225,153
185,464
$104,058
69,182
$57,689
56,954
$12,988
$33,381
13,123
def.895
ROAD.—In operation from Kennett Square, through West Chester, to
Downington and Gallagherville, 18 in.; gauge, 5 ft. 2]4 in.; rails, 70-lb. T;
cars.
Extension Lenape to Kenneth Square was completed Oct. 1 1904.
An extension from Gallagherville to Coatesville completed Nov. 5 1906.
Total track, 30 m.
OFFICERS.—Pres., Geo. D. Woodside; V.-P., Meyer Schamberg; Sec..
Jonas Rice; Treas., M. G. Woodside, all of Phila.—V. 84, p. 340, 392.
20
WICHITA,
KANSAS.
interurban electric railroad from Wichita to Newton and Hutchinson,
Kan.
Has long-term franchises in corp. limits, most important extending
until
Date.
r
,
North
Carolina
and ha*
^
$1 75 per 1,000 cu. ft. of gas in the city and $2 in Wrightsville
Beach was
also granted.
V. 107, p. 83.
■....
Stock Increase.—On Nov. 12 1919 the stockholders voted to increase
,
the
capital stock of the co. from $1,200,000 to $2,600,000, $2,000,000 to be
pref. stock and $600,000 to be common stock.
Pref. stock, in addition to
the $1,200,000 outstanding, may be issued under certain conditions as set
forth in V. 109, p. 2440.
Proceeds from the sale of the pref. stock are to
be used to liquidate current liabilities, to retire $350,000 bonds due Aug. 1
1920 and for additions and betterments. V. 110, p. 971.
8TOCK AND BONDS—
Common $600,000
Interest.
Date.
A-0
—-
Pref $2,000,000 7 % cum (see text)
See text.
1902
5 g J-J
Consol R.ys, L & P Co 1st M g
Safe
(closed) ($50. $100, $500, Interest at
$1,000)-—First
mortgage
c]
$2,000,000
($1,000) gold
c*\
_
Baltimore,
1909
o
g
Outstanding.
Maturity.
$600,000 Apr.'19.3H%
1,200.960
See text
470,600
July 1 1932
Deposit & Trust Co.,
Md., Trustee.
J-J
830,000
Jan
1
1949
Int. at Penn. Co. for Ins. on L., &c., Phila.,
trustee.
1917
6 g F-A
350,000 Aug 1 1920
c*tf Jnt. at Guaranty Trust Co., N. Y., Trustee.
stocknolders, pref. stock was mad*
General mortgage $500,000 g
($1,000)
Stocks—in 1912, by
Interest.
Outstanding.
Maturity.
Common stock $2,100,000
$1,500,000
Pref 6% cum $1,500.000---466,000 ,
First mtge $3,000,000 gold) 1916
5 g J-D
878,000 Dec 11936
($1,00
$500, $100) c*cptJTnt. payable in N. Y. or Chicago.
Stock.—Pref. stock is redeemable $10,000 per ann.; $34,000 has been red.
in
1937.
,
STOCK AND BONDS—
1907
^
an
beyond 2000; rest on private right-of-way.
C.
Fare Increase.—In July 1918 was auth. by the N. C. Corp. Comm. to
increase fares in Wilmington and suburbs from 5 cents to 7 cents.
Tickets
are sold at the rate of 4 for 25 cents and
17 for $1.
Authority to charge
_
ARKANSAS VALLEY INTERURBAN RAILWAY.
ORGANIZATION.—Incorp. in Kansas in 1903 and owns and operates
■
acquired through construction and purchase all the property used In fur¬
nishing electric light and power, gas and street railway service In Wil¬
mington, N. C., and vicinity.
In April 1917 acquired all the property of
the Consolidated Rys., Light & Power Co., formerly controlled by stock
ownership and leased.
Population of territory served, 36.000.
Has a
10-year contract from 1916 with the city for street lighting.
Franchises, in
opinion of counsel, are without time limit and the railway franchise Is
exclusive
Maturity.
$1,000,000
-
N.
CO.
ORGANIZATION.—Chartered Feb.
WEST
THE WEST CHESTER STREET RAILWAY CO.
-V'
■
^
Wall-
„
consent of common
6% stock after the common received 7% in any year.
The extra 1%
was not cumulative.
In Dec. 1919, however, the pref. stock was put on a
a
7% basis and made cumulative. V. 109, p. 2440.
Additional 1st M. bonds may be issued at 85% of cost of new property and
equal 50% more than int. on all
extensions, but only when net earnings
ELECTRIC
136
bonds out and Including amount to be Issued.
During life of Gen. Mtge.
bonds, however, only $200,000 additional 1st M. bonds may be Issued.
bonds are subject to call in entirety only at four weeks' notice at
105.
Sinking fund of 1% began 1914; $47,000 have been retired; $64,000
in addition to amount outstanding held in treasury.
V. 89, p. 471. The
Consol. Rys., Light & Power Go. bonds have a
sinking fund of 1% of
bonds outstanding from July 1 1904 to 1914; 14*% to 1924 and 2% there
after.
Fund to be invested In bonds at not exceeding 105 and int., but
bonds are not subj. to call.
$166,200 bonds have been retired.
Remain¬
ing Gen. Mtge. bonds may be Issued only for additional physical property,
Impts. and betterments when earnings available for int. on these bonds
are at least 3 times Interest charges, including bonds proposed.
No prior
lien bonds exceeding $200,000 may be issued and no new mortgage equal of
prior to this mortgage will be created while these bonds are outstanding and
unpaid.
The Gen. M. bonds are red, at 101 and int. at any time on 6C
days' notice,
Tax-free in N, Y. State.
V. 105, p. 1105.
In Aug. 1919 applied to the Massachusetts P. S. Comm. for auth. to issue
$44,805? to pay in part for new equip. V. 109, p. 889.
$5,000,000 Bond Issue Suggested.—V. 110, p. 765.
12 lease notes totaling
The 1st M.
Dividends.—Prior to Jan. 1 1913 5% per annum was being paid on pref
(4*% monthly, omitting Jan. and July).
On Jan. ] 1913 began paying 6^
per annum (4* % each, month), which was continued to and incl. Oct. 1918
Nov. and Dec. 1918 divs. were paid Sept. 1 1919.
Oncom.,first div., 2%,
paid April 1910; Oct., 2%; in 1911, 6%; in 1912, April, 3%; Oct., 3% and
1% extra, and divs. at the rate of 7% per annum (34*% semi-annually
were paid regularly to and including April 191$.
In Oct. 1018, 24*% (addi¬
tional 1% due was paid May 1 1919).
In April 1919 34*% was paid.
Dec. 31*18.
EARNINGS.—-Years ended—
Dec. 31*16
Dec. 31 '17.
Gross earnings.
$619,849
$182,575
113,541
$529,118
$209,302
108,580
$470,09f
Net,I after
Balance
$69,034
$100,722
$106,941
oper. expenses and taxes..
Bond interest (prior liens).
$172,625
65,684
has a total capacity of 6,300 k.w.
daily capacity, brick buildings and 5
capacity; 44 miles gas mains.
Will
presently install water gas set with capacity of 810,000 cu. ft. daily.
Of the
29.28 miles of track in the railway system 68% are double tracked.
44
PROPERTY.—The power station
The gas plant has a 585,000-cu.-ft.
two-lift holders of 270,000 cu. ft.
Eassenger and 7Owns and leases to the Atlantic Coast Line RR. 1.5 miles of
uilt in 1916.
freight and miscell. cars. A new car house and shop were
track along the water front.
Also
owns
large amusement
a
pavilion and
several cottages at Wrightsville Beach; controls through stock ownership
hotel at the beach, ana owns a large auditorium seating 2,000. together
with three large tracts of
improved real estate along the railway.
WORCESTER, MASS.
New
ENOLAND
INVESTMENT
&
SECURITY
CO.
stock of this company formerly
by Sanderson & Porter was acquired by a preferred stockholders'
committee (V. 99, p. 1215) In Oct. 1914. Holders of about 34.000 shares of
pref. stock subscribed $10 for every share of pref. owned in order to effect
the purchase.
V. 99,p. 609, 675, 1215.
The New England Navigation Co. owns the $13,709,000 funding gold
notes, and in pursuance of the order of the U.S. Department of Justice the
notes were to have been sold by July 1 1919, but in Mardh 1919, we under¬
stand, Judge Mayer granted an extension of time to July 1 1921.
Control.—The $100,000
Dale.
Interest.
Outstanding.
Maturity.
$1,654,700 ($100)
Text
$4,654,700
See text
mtge $1,700,000 gold)
1903
4gA-0
1,700,000 April 1 1923
($1,000) —
c*_ ntf(Springfield Safe Dep. & Trust Co.. Trustee.
West Mass 8t Ry first mtge)
1906
5 g F-A
200,000 Feb 1 1926
(closed) gold ($1,000)---tf[Int. at Springfield S. D. & Tr. Co.. Trustee.
Springfield & Eastern 1st Ml 1902
5 g J-J
330,000 Jan 1 1922
(closed) g ($1,000) c«_ntfflnt. at Springfield S. D. & Tr. Co., Trustee.
Current liabilities June 30 1919
1,003,018
STOCK AND BONDS—
Stock
First
Bonds.—Western Mass. St. Ry. bonds are subject to call on any Interest
108 and int. on 60 days' notice.
Springf. & Eastern bonds are
subject to call at 105 on 60 days' notice.
day at
in
DIVIDENDS.—In years 1893 to July 30 1910. inclusive, 8% per annum,
1910-11 to 1913-14, 7%; in 1914-15, 64*%; In 1915-16. 6>*%; in Dec.
common
held
ROAD.—Owns 196.39 miles (incl. 34.97 miles of 2d track)
and 14.96 miles of sidings.
Total, 191.35 miles.
Exchange of Preferred Stock.—By vote of the trustees on Sept. 20 1917
stock (par $100) for an equal
the Worcester Consol. St. Ry. became
operative.
The latter has a par value of $80 per share and Is entitled to
$105 per share In the event of liquidation and to cumulative divs. of $5
share.
Exchange of the stock relieves the N. Y. N. II. & II. RR. of
thereon.
V. 104, p. 2559.
As of Sept. 1 1919 38,879 shares had been exchanged.
its
V.
of dividends
guaranty
105,
EARNINGS.—For cal. years:
Gross
Net
Surplus or
Total
Interest,
Dividends
Deficit.
Surplus.
Earnings. Earnings. Tax.,&c.
Paid.
sur.$246,281
1919.--$3,064,637 $490,012 $243,731
None.
sur.
46,903df65,377
1918--- 2,592,330
320,805
273,902
None.
def.133,179 111,893
1917--- 2,497,514
131,635
264,814
None.
-V. 106, p. 2650; V. 107. p. 604, 803, 1194; V. 108, p. 1512; V. 109, p.
777, 889; V. 110, p. 765.
p.
1618
ORGANIZATION.—Is a voluntary association and was organized oh
1906 to take over the street railway properties in Massachusetts
formerly controlled by the Consolidated Railway Co.
V. 83, p. 492.
June 25
SECURITIES OWNED.—The following is a list of stocks held by the
stock.
1st pref.
Worcester Consolidated St. Ry.—3,865 shares (out of 45,000)
stock
(par $80) and all the common stock.
Springfield Railway Cos.—68.000 shares (entire issue) of common stock
(Springfield Ry. Cos. owns 46,492 out of a total of 46,547 shares of Spring¬
field
Street Ry.)
Various street railway company
STOCK AND BONDS—
Incorporated in 1886 as the Citizens' Street Ry
Co., has absorbed the following companies
Outstanding.
Interest.
Common
Pref.
4% ($100)..
Funding gold notes
.
tf-
1909
Maturity.
$100,000
112,100 July'19, 2%
13,709,000 Apr. 1 1924
4 J-J
See text
Worcester & Clinton Street
Fitchburg & Suburban Street Ry.,
Ry.,
Marlboro & Westboro Street Ry.,
Wore. & Blackstone Val. St. Ry.,
Worcester &
per annum on the pref. stock are cumulative
guaranteed by the New York New Haven & Hartford RR., and
also $105 per share in case of liquidation.
V. 83, p. 492.
See form of guar¬
anty in V. 83, p. 1102.
This stock may be called as an entirety at any time
at 105 and accumulated dividends.
Supreme Court of Errors in Connecti¬
cut sustained validity of guaranty.
V. 88, p. 1002.
are
Notes.—N. Y. N. H. <fc
EI. guar., p. & I., $5,000,000 of the notes.
Int.
5 years, 3%; for the next 5 years 4% and for the last 5
5%.
An agreement was reached with the New Haven Interests in
1915 by which interest was continued at the rate of 3% per annum to April
1917 and 2% since, with obligation to pay remainder ir earned.
Original
Issue, $16,250,000, of which $2,541,000 redeemed and canceled.
on
notes for first
years,
EARNINGS.—For calendar years:
Divs. &
Deducr
Net
Year—- Int. Rec'd.
Hons.
Income.
1919
$53,327
52,539
319,631
1918
1917
OFFICERS.—Chairman
Int.
37,381
301,227
of the
on
Preferred
Board, Francis H.
or Def.
$4,484
sur.
$171
4,484 sur. 32,897
83,138
def. 90,364
Mass.; Pres., Clark V. Wood, Springfield, Mass.; Vice-Pres., Chas. E.
Ware, Fitchburg, Mass.; Sec., F. P. Mclntyre, Springfield, Mass.;Treas.t
Leverett Candee, Springfield, Mass.—V. 104, p. 2559; V. 106, p. 1689, 2757;
V. 108, p. 2433; V. 109, p. 776, 1987, 2176; V. 110, p. 970.
(1)
Springfield
Railway
Companies.—A
holding company.
stock of the Springfield Street Ry.
Is managed by
consisting of seven members.
V. 80. p. 1363.
Interest
Outstanding.
Last Div
All owned by New Eng. Inv. & Secur. Co.—
STOCK—
Common
Pref 4%
cum guar
a
majority of the
board of trustees
a
4 J-J
($100)
Stock.—The pref. stock
$3,387,900 July '19, 2%
is red. at 105 and accr. dfvs.
juar. by the N. Y. N. H. & H.
♦■heir payment at 105 incase of
These divs. are
RR. Co., successor to Consol. Ry., as well as
liquidation or call.
See V. 80. p. 1363.1914.
(a) 45,000 shares of 1st pref. stock (par
On
April 11 1919 was auth. by the Massachusetts P. S. Comm. to extend
from Jan. 1 1919 at 7% the $115,000 20-year 1st M. 5s of the
matured on that date.
V. 108, p. 1G12,
for two years
Worcester & Ciinton Ry., which
2242.
1 1918 was auth.- o increase the fare
and on Aug. 1 1918 the 6-cent fare was
107, p. 503.
Compare V. IQ7, p. 403.
On April 14 1919 was auth. by the Massachusetts P. S. Comm. to increase
cash fares from 6 to 7 cents, tickets to be sold at 10 for 65 cents.
Effective
Jan. 4 1920, a zone system with a 6-cent fare and no transfers was put into
effect for a trial period.
V. 110. P- 168, but see V. 110, p. 765.
In Nov. 1919 the Webster & Dudley St. Ry. issued $30,000 1st M. 5%
Increase.—Effective
Fare
Worcester.
V.
20-yr. bonds to refund a like amount of 1st Mtge. bonds due at that time.
In Dec. 1919 the Worcester & Webster St. Ry. was auth. by the Mass.
P.
$150,000 1st M. 20-yr. bonds at not to exceed 5%,
of similar bonds due Dec. 1 1919.
V. 109, p. 2176.
debentures due Mar. 1 1920 were extended for
V. 110, p. 872, 972.
S. Comm. to issue
to refund a like amount
The co.'s $700,000 44*%
5 years at 7%.
Interest.
Date.
STOCK AND BONDS—
Common $3,326,000 ($100)Pref (see text) $3,600,000 ($80)
-
Maturity.
Outstanding.
$3,326,000
3,600,000
See text
44* g F-A
1,499,000 _Aug 1 1930
1910
($1,000) c*tf [Old Colony Trust Co., Boston, Trustee.
-
Wore Consol St 1st & ref mtgj
$5,000,000
g
Consolidated
Worcester
debf
1907
1,200,000 Nov
5 M-N
1 1927
($ 1,000)
ntf 1 Old Colony Trust Co., Boston, Trustee.
$840,000 ntf 1900
7 g M-S
700,000 Mar 1 1925
&
Clinton
first! 1899
7 g J-J
115,000 Jan
1 1921
$1,364,000
Wore Con deb g
Worcester
mortgage gold ($1,000) ntf
[American Trust Co., Boston, Trustee.
lstMj 1906
44* g F-A
200.000 Aug 1 1926
$200,000 g
($1,000)-Cntfllnterest at office of company.
Uxbridge &
Blackst first f 1903
5 F-A
80.000 Feb
2 1923
M $80,000 ($l,000)-cntf\lnt. at Old Colony Tr. Co., Boston, Trustee.
Uxbridge & Blackst debenf 1907
5 A-0
40,000 Oct
1 1927
($1,000)
tf [Interest at office of company.
Marlb & Westb 1st M $160,-1 1901
5 g J-J
160.000 July 1 1921
Wore & Blackstone Val
Araer. Trust Co., Boston, Trustee.
$150,-1 1903
5 A-0
150.000 Oct
11923
red at 105vint. at Worcester Tr. Co., Worcester, Trust.
000 g($l,000)red 105 c*ntf [Int. at
Wore & Hold 1st mtge
($1,000)
(V. 89, p. 995)
Wor
&
text)
cntfj
1st mtge (seef 1902
44* g M-S
500,000 Sept 1 1922
($l,000)-_c*ntf[Int. at Internat. Trust Co., Bost., Trustee,.
44* g J-D
& South mtge (seel
1905
,200.000 June 1 1925
:
ntf(
South
gold
Worcester
text)
Leased to
Worcester Consolidated—
Webster & Dudley
$50,000
30,000
/Stock
[Mortgage
1919
5 M-N
Nov
1 1939
Leased to Webster & Dudley, oper. by Wore. Consol.—
WorcfStock
&
[1st M
Web
I
$150,000
000) gold
150,000 -------- 150.000 Dec 11939
(SI.-/ 1919
5 g J-D
c*ntftlnt. at International Tr. Co.. Bost., trustee.
Current liabilities June 30 1919 (incl. all sub. cos.).
1,355,333
Preferred Stock.—The pref. stock is entitled to cum. divs. of $5 per share
p. a. (J. 30 & D. 31) and $105 per share in case of liquidation.
While any
matured div. on 1st pref. stock is unpaid or while the unfunded and current
debt of the co. shall exceed 25% of the entire capital stock, 1st pref. share¬
holders may elect a majority of the directors.
The 1st pref. stock may not
be increased without consent of 2-3 of its holders except that in case of con¬
solidation with
consent.
V.
Springfield St. Ry. S2,750,000 may be issued without such
p. 2344.
104,
Bonds.—Wore. Consol. Ry. 1st & Ref. bonds are sub. to call on any int.
Street Ry.—A trolley road.
March
16
1868.
Purchase
o'
Issue of $550,000 additionfd
RR. Comm. Nov. 30 1909.
V.
89. p. 1484.
On Nov. 26 1910 Mass. RR. Comm. granted permission to pur¬
chase the Springfield & Eastern St. Ry. and Issue $900,000 new stock in ex
change, share for share, for stock of the absorbed company.
V. 91, p. 277.
1513.
In May 1917 made a contract with the Turners Falls Pow. & Elec.
Co. for the purchase of its entire power requirements.
V. 104, p. 2119.
ORGANIZATION.—Incorporated
Massachusetts
Street
Ry.
Western
and
stock for that purpose approved by Mass.
In
July
rate on suburban lines to 6 cents
day at 110 and int.
Springfield
(b) $40,000
Blackstone
These bonds at last accounts (Sept. 1919)
6% debentures due Oct. 1 1927.
had not been issued.
V. 105, p. 2095.
(a)
1917 the Mass. P. S. Comm. auth. the co.
$80) to retire 36,000 shares
New Preferred Stock.—In May
to issue
Dewey, Worcester,
ORGANIZATION.—Formed in March 1905 to hola
Southbridge Street Ry..
Worcester & Suburban Street Ry.
of common stock at par ($100), which was accordingly done, and
of 1st Ref. 44*% 20-year bonds to retire $40,000 Uxbridge &
Balance,
Dividends. Sur.
Notes.
$34,000
None
$308,453
Worcester &
franchises perpetual.
In 1895 leased for 99 years the North End St. Ry..
$8,000.
The North End has $110,000
($100) capital stock and $75,000 5% 1st mtge. bonds, due Feb. 1 1915; int.
F. & A.
Also leases for 99 years from July 1 1896 both the Worcester &
Shrewsbury St. Ry. Co. and the Worcester & Shrewsbury RR. Co.
3,865 shares 1st pref. and 33,260 shares common stock are owned by
the N. E. Inv. & Sec. Co.
In Aug. 1909 permission was granted .to Issue $922,000 bonds to retire
floating debt ana $2,260,000 bonds to retire funded debt.
V. 86, p. 1346;
V. 89, p. 412.
Up to Sept. 1 1919, $1,499,000 had been issued.
In Jan. 1913 the Mass. RR. Comm. approved an issue of $500,000 1st
ref. 44*8, the proceeds of $450,000 being used to acquire the power house
and property of the Electric Mfg. Co. and $50,000 for the purchase of the
Quinsigamond Park property for a pleasure resort. The co. is required to
establish as. f. by ann. payment of $1,949 till maturity of bds. V. 96, p. 362.
000 g
I $38,655
$14,671
15,158
18,404
Worcester & Marlboro Street Ry.,
Leominster & Clinton Street
Stock.—Dividends of 4%
and
Ry.,
Holden Street Ry.,
Clinton & Hudson Street Ry.,
bonds. $246,555, and notes, $693,078.
Date.
Ry.—Trolley.
Street
Consolidated
Worcester
(2)
This company, which was
made effective in
New England Investment & Security Co. (see V. 83. p. 1100).
Milford Attieboro & Woonsocket St. Ry.—$315,000 capital
of main track
Year—
the plan to exchange the $4,000,000 4% pref.
number of shares of 1st pref. stock of
per
V. 105, p. 1999.
None since.
1916, 15*%.
of 5.13 miles, at a yearly rental of
OFFICERS.—Pres., Hugh MacKae; V.-P., II. C. McQueen: 2d V.-P.,
C. Van Leuren; Sec. & Treas., T. B. Willard; Gen. Mgr., R. Hunt; Asst.
Sec. & Treas., M. P. Bell.—V. 105. p. 1105; V. 106, p. 925; V. 107, p
83, 1194, 1291; V. 109, p. 2440; V. 110, p. 971.
NEW
[VOL. 110.
RAILWAYS
April 1918 was authorized by the P. S. Commission to establish a
two-umt-fare
program.
The 5-cent fare was retained in the centre of
Springfield within a radius of 2 miles.
Beyond this limit a 6-cent fare zone
was
established, followed by a second 5-cent zone.
In Sept. 1918 was
auth. to charge a straight 6-cent fare, ieffective Sept. 16 1918. V. 107, p.
1194.
Compare V. 107, p. 803.
On Nov. 2 1917 the Mass. P. S. Comm. auth. the co. to issue $3,275,000
bonds, payable 20 years from date of issue and bearing not to exceed 6%
Interest, of which $2,305,000 for refunding present bond issues and $970,000
to fund floating debt, &c. (of which $738,000 incurred for add'ns and bet¬
terments and $232,000 for working capital.
At last accounts (Sept. 1919)
these had n»t been issued.
V. 10$, p. 1899.
Int. is payable at company's office or at its agency in
The two issues of bonds of the Worcester & Southbridge St. Ry.
secured by the same mtge., the mtge. providing that bonds can be Issued
Boston.
are
up to $1,000,000, and are to bear date of issue and be payable 20 years after
date.
The Worcester Consol. debentures originally bore 4 4*% int. and
matured Mar. 1 1920 but were extended for 5 years at 7%.
V. 110, p. 872.
The Worcester &
Jan. 1
poned.
Clinton
1st M.
bonds
were
originally 5s and were due
V. 108, p. 2242.
1919, but were extended to Jan. 1 1921 at 7%.
Dividend.—The
V.
107,
June
p.
1918
dividend
on
the
preferred stock
was
post
403.
ROAD.—Operates 303.85 miles of track, comprising the entire street
railway mileage of Worcester, together with lines radiating from Worcester
to Leominster, Fitchburg, Clinton, Berlin, Northboro, Marlboro, Millbury,
/
Northbridge, Uxbridge, Millville, Spencer, Webster, Dudley, Grafton and
Southbridge.
EARNINGS—For cal. years:
Year—•
Gross.
1919
1918
1917—
—V. 108, p.
Net.
Charges.
Divs.
Sum.us.
$3,934,256
$644,414
$455,041
None
$189,373
3,341,713
574,876
450,676
None
124,200
3,361,616
934,565
526,285
$370,175
38,105
1938, 2242; V. 109, p. 777; V. 110. p. 168, 765. 872, 972.
ELECTRIC
APR., 1920.]
(3) Milford Attleboro & Woomocket Street Ry.
under
ORGANIZATION.—Incorporated In Massachusetts on April 14 1898.
Fares.—On Oct. 13 1919 the co. reduced fares from 7 cents to 5 cents and
Increased the number of zones from 13 to 16.
V. 109, p. 1527.
Compare
Y. 108, p. 2433.
The 8300.000 1st M. bonds were originally 5s and matured Oct. 1 1919,
but were extended for 5 years at 6%.
V. 109, p. 1080.
Date.
Interest.
Outstanding.
Maturity.
All owned by New England Inv. & Secur. Co.
STOCK AND BONDS—
Stock
$315,000
First M $300,000 g
not subject to call
Year ending—
1916
Dec. 31
June 30 1916.
June 30 1915
($1,000)/ 1899
6 A-0
$300,000 Oct 1 1924
-ntf lint, at Old Colony Trust Co., Boston. Trust.
Gross.
...$107,905
107,482
112,654
-
Net. Int. & Taxes. Divs.
$17,524
$19,269
21,667
20,946
33,019
20,311
$12,600
Surplus.
def$ 1,745
721
108
Latest
Earnings.—For cal. year 1919:
$149,422
$19,783
$22,492
def$2,709
ROAD.—Operates 29.79 miles of track.
22 passenger and 7 other cars.
—V, 109, p. 1080, 1527; V. 110, p. 765.
1919
the Mass. P. S. Comm. approved increases
In rates ranging from 50 to 100% to be accomplished by shortening fare
sections.
V. 107, p. 696.
Interest.
STOCK—
Dividends.—First
Last Div.
Dec'14. 2%
—230,924
11%. for 2 years,
div.,
Outstanding.
$275,000
Stock $275,000 (par $100)
Current liabilities J'ne 30 1919
paid April
1
1904;
In
1905
7%; in 1906. 7%; in 1909. 5%: in 1910 to 1912, incl., 4%; in 1913, 5%;
1914, June, 6%; Dec., 2%.
None since.
in
and 1.93 miles of sidings, from
Rhode Island State line to North Attleborough, Attleborough and Plainville, Mass.
ROAD.—Owns 24.10 miles of track
Year ending—
Dec. 31 1919.
Dec.
31
1918
Dec.
31
1917
Gross.
Net.
Charges.
$233,023
$55,206
$22,116
187,091
29,782
21,784
195.697
24,163
20,696
Divs.
Balance.
sur.$33,090
sur. 7,998
sur. 3,467
OFFICERS.—Pres., Francis H. Dewey, Worcester; V.-P., O. V. Wood.
Springfield; Gen. Mgr., H. C. Page, Worcester; Treas., L. Candee, Spring¬
Aud., J. W. JamlesoB.—V.
field; Clerk. F. P. Mclntyre, Springfield;
73. p. 236; V. 107. p. 696; V. 109, p. 776
Also
ten-year contract.
owns
entire stock of York Suburban Land
increasing trolley fares from 6 to 7 cents within the city
rates for power. Y. 107, p. 1838.
STOCK AND BONDS—
Common $2,600,000 ($50)
Date.
«old
Interest.
-
Pref $2,000,000 5% cum ($50)
1st mtge& coll tr $10,000.000/
Q-J
1907
zone
and increasing
Outstanding.
Maturity.
$2,500,000
1,600,000 Jan'20.1K%
4,938,000 Dec 1 1937
5 J-D
c*tf IGuar. Trust & Safe Dep. Co.. Phila., trustee.
($1,000)
Stock and Bonds.—Pref. stock is cumulative 3 years from date of Issue.
The stock of the controlled Edison Light & Power Co. and York Suburban
Land
Co.
are
deposited
as
additional security for the bonds.
$267,000
bonds in treasury.
Remaining bonds can only be Issued under certain re¬
No sinking fund.
See particulars of bonds, property, &c., in
V. 87, p. 40.
Stocks and bonds are listed on the Phila. Stock Exchange.
strictions.
V. 89. p. 412;
In
Fare Increase.—In Aug. 1918
a
Co. and York Steam Heating Co. (V. 85, p. 1463).
Rates.—In Nov. 1918 filed with the Penna. P. S. Comm. new schedules,
on
INTER-STATE CONSOLIDATED STREET RY.
ORGANIZATION.—organized as successor in Massachusetts to the
Inter-atate Consolidated of Rhode Isla ud.
Has permission to carry freight.
137
RAILWAYS
V. 94,
p.
984
Jan. 30 1916.
1917.
5%
The July div. of 2K% was paid in cash. Inl916,6K%«
and 2K% extra in Jan. in full payment of accumulating
in 1918 and 1919, 5%.
In 1920, Jan., IK%.
EARNINGS.—For years ending Nov. 30:
Nov. 30
Gross
Net, after
Year—
1918-19._.
1917-18--1916-17
—
Earnings.
$1,369,215
1,091,851
1,051,472
Taxes & Deprec'n.
$418,263
311,213
373,426
Balance,
Surplus.
$186,666
81,018
144,018
Fixed
Charges.
$231,598
230,195
229,408
ROAD.—Owns and operates about 85.15 miles of track centering In York.
Including an interurban line between Hanover and York, 17.33 miles.
OFFICERS.—Pres.
&
Gen.
Mgr., Gordon Campbell; V.-P., L. C.
Mayer; V.-P., J. E. Wayne; See., M. G, Stees; Treas., E. A. Barnitz;
Aud., J. J. Landers.—V. 104. p. 165; V. 106, p. 603, 823; V. 107, p. 1838;
V. 108, p. 785; V. 110, p. 360.
YOUNGSTOWN,
OHIO.
PENNSYLVANIA-OHIO
ELECTRIC CO.—Subsidiary
Railway & Light Co., which see under "New York."
of
Republic
<
YOUNGSTOWN & SUBURBAN RY. CO.
In. May 1917 control was acquired by Municipal Service Co., a Maine
holding corporation. (V. 104, p. 1387, 1592, 1900, 2013.)
ORGANIZATION.—Incorp. in Ohio, Sept. 1916 and acquired the prop¬
erty of the Youngstown & Southern Ry., sold at foreclosure Sept. 2 1916.
(V. 103, p. 940, 1033).
YORK, PA.
YORK
Common
ORGANIZATION.—Incorporated in Pennsylvania Nov. 15 1907 as a
consolidation of properties operating in York and vicinity.
V. 85. p. 1403.
Franchise perpetual.
consolidated or merged:
York Haven Street Ry. Co.
Red Lion & Windsor Street Ry. Co.
Hanover & York Street Ry. Co.
The following companies have been
York Street Railway Co.,
Wrightsville & York Street Ry. Co.
York & Dover Electric Ry. Co.,
York & Dallastown Ry. Co.
chants' Electric Light, Heat & Power Co. of York was
Power Co.
During 1916
a
Preferred
purchased and with
with the Edison Light &
municipal lighting system was Installed In York
Date.
Interest.
$750,000
(cum) $750,000----
-
Bonds.—$800,000 are reserved for extensions and additions under certain
safeguards.
Red. at 102K and int. at any time.
Sink, fund to retire
$5,000 at 102K and int. annually,
began
Sept.
1
1919.
Guaranty
Trust Co., N. Y., trustee.
EARNINGS.—For 12
of Edison Light & Power Co. (except K of 1
incorporated in April 1913 to take over the lighting and power sub¬
sidiaries of tne York Railways and other properties, including the Edison
Electric Light Co., the lighting companies of West York, North York, Man¬
chester, Mount Wolf, Dover, Hallam and others.
In July 1916 the Mer¬
Owns entire capital stock
share),
five suburban lighting companies consolidated
Outstanding.
Maturity.
$350,000
6%
470,000
1st
M
$1,500,000———ctf 1916
5 M-S
700,000 Sept 1 1936
$30,000 pref. stock in treasury in addition to amount reported outstand'g.
STOCK AND BONDS—
RAILWAYS.—A trolley road.
mos.
end. Dec. 31 1919. gross, $294,179; net (after
taxes), $90,122; fixed charges, $35,225; surplus, $54,897.
ROAD.—Operates interurban road between Youngstown and Leetonia.
20 m.
12 passenger,
11 freight and express, 1 work car and
about
1 snow plow.
OFFICERS.—Pres.,
;
Vice-Pres., J. H. McOlure
Sec., John E. Zimmerman, Treas., J. W. Swain Jr., Oper. Mgrs.,Day&
Zimmermann, Inc.—V. 104, p. 1387, 1592, 1900, 2013.
[Vol. 110.
ELECTRIC RAILWAYS
138
RAILWAYS IN ISLAND POSSESSIONS
ELECTRIC
AND
FOREIGN
COUNTRIES
OFFICERS.—Pres., J. R. Moodie; V.-P., Cyrus A. Birge; Sec. & Man'g
Wra. C. Hawkins; Gen. Mgr., Edward P. Coleman; Treas., James
V. 104. p. 857; V. 105, p. 909; V. 106, p. 929,
HALIFAX, N. S.
NOVA
SCOTIA
Dir..
Dixon; Aud., C. S. Scott.
TRAMWAYS & POWER CO.
2338; V. 108, p. 784; V. 110, p. 764.
Scotia In 1914 and in Jan. 1917
ORGANIZATION.—Incorp. in Nova
acquired (a) the properties and franchises of the Halifax Electric Tramway
Co., Ltd., comprising all street railways, commercial electric light and power
properties in Halifax; and (b) water power rights, lands, &c., on
River, 55 miles from Halifax, capable of a hydro-electric
development of approximately 12,000 h. p.
HAVANA, CUBA.
and gas
HAVANA
the Gaspereaux
Franchises, in opinion of
The stock was offered in
counsel, are perpetual
Jan. 1917 in blocks of 10 shares of pref. and 3
•hares com. stock for $1,000.
V. 104, p. 164.
In acting upon the co.'s application for auth. to
increase its capital stock
by $4,000,000 and to issue $975,000 in bonds, the P. U. Comm. In Dec. 1917
auth. items involving a capital expenditure of $845,641, and held over
for further consideration items aggregating $569,686.
In Nov. 1919 the co. applied to the Bd. of P. U. for auth. to issue $440,000
of the proceeds to be
Gas, Elec. Lt. & Pow.
In new securities, part
of the
Dartmouth
used to purchase the property
Co.
For further details see
V. 109, p. ] 987.
June 24 1919 auth. an issue of
The common stockholders on
$2,000,000
3-yr. 7% notes, half of which were put out in July 1919 to provide for
V. 109, p. 270.
Compare V. 108k-p. 2630, 2434.
add'ns,
exts. & impts.
Outstanding.
Maturity.
I $2,510,000
J-J 2
1 2,078,800 July'19. 3%
lit M $10,000,000 gold $ or £1 1916
5 g J-D
2,250,000 Dec 1 1946
($1,000 and $50G)-_-C*-tfJlnt. in New York, Montreal and London.
3-year notes $2,000,QOC \
1919
7 g J-D
1,000,000 June 1 1922
g ($500 &
$1 000) .c, Int. at Can. Bk. of Commerce,Halifax or Montreal.
Preferred Stock.—Divs. payable without deduction for any taxes Imposed
by any taxing authority in Canada.
Bonds.—Remaining bonds may be issued up to 75% of cost of acquisitions
or Impr'ts (except that no bonds may be issued against the cost or the new
gas plant) and only when net earnings are double the 1st M. interest
charges, including bonds to be issued.
Annual sinking or impt. fund of
1% of bonds out began Dec. 1917, for add'ns or impts., or for redemption
of bonds.
Callable, all or part, for sinking fund, at 105 and int. on any
int. date on 60 days' notice.
Int. payable without deduction for Canadian
taxes or U. S. Federal taxes.
Fixed exchange rate, $4 86 2-3 per £ sterling.
Trustees, Union Trust Co. of N. Y., and Royal Trust Co., Montreal.
STOCK AND BONDS—
Interest.
Date.
Com stock $3,500,000 ($100)
Pf 6% cum $2,500,000 ($100)-
198
Notes.—No mtge. bonds or debentures except the 1st M. bonds may be
Issued unless these notes are secured in the same manner as such new issue.
City.
miles of street railway, single track equivalent
and 80-lb. girder rails.
41 passenger cars; 24 Birsafety cars; 5 sweepers, 5 misc. cars, &c.; poewr house with 6,200 h. p.
capacity; lighting and power distribution system; gas plant, with about
45.7 miles of pipe line.
PROPERTIES.— 22
Standard gauge; 60-lb. T
noy
H. A.
J. It. Blaclcett.
Under management of Stone
A Webster, Boston, Mass.
Mgr., W. L. Weston.—V. 108, p. 1512. 2123,
2434, 2630; V. 109, p. 270; V. 110, p. 167.
OFFICERS.—Pres., A. Stuart Pratt; V.-P., W. H. Covert; Sec.,
Lemmon; Comp. & Treas.,
for
new
stock pro rata at par and div.
STOCK AND BONDS—
HAMILTON, ONTARIO.
Canada
on
Brantford & Hamilton Elec. Ry.,
Hamilton Street Ry.,
Hamilton & Dundas St. Ry.,
Ham. Grimsby & Beamsville Ry.,
STOCK AND BONDS—
11
1907.
Controls
Wolland Electrical Co.,
Hamilton Terminal Co.
Interest.
Ordinary $9,900,000 ($100)
Preference $10,000,000 ($100)
J-J
1907
5
A-O
Outstanding.
Maturity,
$7,714,500 Mar'20,1%
3,681,100 Jan 20,3^
5.098,000
Bonds.—Of the $25,000,000 mortgage, $10,000,000 may
3,998,000 June 1 1954
596,917
1943
divs.
Both
com. and pref. are listed on N. Y. Stock Exch.
V. 94, p. 1632.
$51,594
common and $21,523 pref. stock Included In amounts reported outstand¬
—
"English bonds" (£150,000)—
Stock.—Pref. stock is red.
ing
are
be issued, with
approval of the trustee, for not exceeding 80% of cash cost of extensions
remainder for not exceeding 75%.
Since April 1
but not any part thereof, can be called
and interest on any coupon date on 60 days' notice. The bonds
mature $54,000 annually from April 1 1914 to 1921 and $108,000 annually
from April 1 1922 to 1931, and the remaining $3,910,000 are due April 1
1932.
They are secured by all the property owned through deposit of
•tock and bonds with trustee. &c.
1917 the entire outstanding issue,
at 107^4
paid in 1907; in 1908, 3%
paid.
In Dec. 1908 it was decided to omit div. on both clasess of pref.
•tock; see V. 87, p. 1478.
None to Jan. 1911, when 3H% was paid; July,
3J4%; also paid in Dec. 1911 div. due Jan. 1909,3%.
In 1912, Jan., 3/^ %;
July, 3M%; Aug., 3% (due June 1909).
In 1913, Jan., 3H%.
A div.
of6Hi%was paid Feb. 15 1913 in full of arrears; July, 3H %•
In 1914
and since, 7%perann.
Initial div.oncom.—2%—paid June 1916: Dec..
was
2%.
In Sept. 1917 paid quarterly div. of 1% and same rate
quarterly' since.
Bond
Int.,&c.
$3,477,386 $1,189,682 $35,116 $466,067
3,204,644
1,160,177
58,992
438,121
1919
has been paid
Divs.
Balance,
Paid.
Survlus.
$533,413 $155,086
533,993
129,070
ROAD.—Controls 33 miles of single track in Hamilton and 86 miles of
Interurban lines, and also
supplies light and power to Hamilton, Brantford,
Catharines, Welland and intervening territory.
Likewise owns a
56,600 h. p. hydro-electric station.
In the summer of 1917, put into
St.
operation
a
steam-generating station.
1904
1906
6%
5%
-
,
at $115 per share and accrued
in treasury.
1251.
Int. payable at company's office.
They are listed on N. Y. Stock
Exchange.
V. 86, p. 918.
The gen. mtge. bonds are red. on 30 days' notice at 105.
Sink, fund of
1H% on outstanding bonds begins in 1920.
Interest payable in N. Y.
without deduction of any tax, except Federal income tax.
Of the $25,000,000 auth., $10,450,000 are reserved to retire underlying Hens, $52,000 are
deposited with Govt, of Cuba, $763,000 are in treasury and the remainder
for additions and improvements, under certain restrictions.
Listed on
N. Y. Stock Exchange.
V. 102, p. 2254; V. 106, p. 715.
Dividends.—Dividends on pref. stock were begun In Nov, 1912.
An
initial dividend on the common stock, 2J£%, waspaid in Nov. 1912.
In
p.
1913, 5H%: in 1914. 5%; In 1915. 5X%; in 1916,
1918, 6%; in 1919, 6%; in 1920, May, 3%.
REPORT.—For calendar years (1918 report in
Cal.
Gross
Net {after Other
Fixed
Pf.
6%; In 1917, 6%; in
V. 108, p. 2017):
Div. Com.Divs. Balance,
Income. Charges.
(6%).
(6%)
Surplus.
$
$
$
$
989,138 1,258,709 896,905 796,031
1917--.6,989,599 3,604,129 149,755 1,138,623 1.079,349 896,905 639,007
75,611,<77 passengers carried in 1918, against 66,418,450 m 1917.
Year—Earnings.
.
Taxes).
$
$
$
-8.176,544 3,799,889 140,895
6 months ending June 30:
Other Inc.
Charges.
$59,794
$912,366
80,350
967,158
Surplus.
$1,313,528
1,248,950
ROAD, &c.—Railway system, 93.79 miles of single track.
Also operates
a stage line.
Has 492 cars; also has 49 stages and 14 motor buses.
176.58
miles gas mains.
Tne consolidated power plant (capacity 37,500 k.w.)
Net (aft. Tax.).
Gross.
$2,166,100
2,135,758
1919„.$4,321,893
1918
3,920.085
was
completed in June 1916.
&
Gen. Mgr., Frank Steinhart;
David T.
H. Kraemer.
108, p. 1822.
V.-Ps.,
Davis, Eraeterio Zorilla, Antonio San Miguel; Sec. & Treas..
N. Y. office, 55 Liberty St.—V
106 d. 822, 2011, 2337; V.
2017.
See text
and additions, and the
EARNINGS.—Incl. subsidiary cos. :
Calendar
Gross
Net
Maint. &
Year—
Earnings.
Earnings.
Ren'ls.
tubscrlbe
Gas & Electric Co. issues—
Gold mortgage
HONOLULU, HAWAII.
gold
Dividends.—On the preference stock 6% was
2118.
Outstanding.
Maturity.
$15,000,000 May'20,3%
21,000,000 May'20,3%
$15,000,000 ($100)
OFFICERS.—Pres.
$25,000,000
_c*tf Harris Tr. & Savs. Bk. of Chicago, Trustee.
Nat. Trust Co., Ltd., Toronto, Can., trust.
Ham Cat P L & Tr Co, Ltd,/ 1903
5 A-0
1,872.000 April 1 1943
1st & ref M $5,000,000 gold Int. in Hamilton & N. Y.
Nat. Trust Co.,
($1,000)
c*ntf
Ltd., Toronto, trustee.
Callable at 110 &
I
int. beginning April 1
1923.
Ham Elec Lt & Cat Pow 1st f 1899
5 g A-O
809,000 Oct
1 1929
mortgage gold ($1,000) not{Int. payable in N. Y. or Hamilton National
callable
c*tfl
Trust Co., Toronto, Trustee.
Hamilton Street Ry 1st mtge. 1898
4H J-D
360,000 Dec 22 1928
HamGrims& BElRy 1st M__ 1895
5 M-N
150,000
1925
mortgage
($1,000)
g
p.
Pf6% cum $21,000,000 ($100)
6 Mos.
Jan.
Lincoln Elec. Lt. & Power Co.,
Western Counties Electric Co.,
Date.
V. 104,
Interest.
Hav Elec Ry
Latest Earnings.—For
& TRANSMISSION CO.
in
Date.
M-N
M-N
consol M $10,-/, 1902
5 g F-A
8.983.111
Feb 1 1952
000,000 g ($1,000) s f_c*&r\Ceritral Trust Co., New York, Trustee.
Hav El Ry L & P gen mtgef 1914
5 g M-S
5,845,000 Sept 1 1954
$25,000,000($1,000 & $5,H
Guaranty Trust Co., N. Y., Trustee.
000) gold____
c*&r(
Common
1918-
and operates the following properties:
Ham. Elec. Lt. & Power Co.
Hamilton Cataract P., Lt. & Tr.Co.
Dundas Electric Co.,
Hamilton Radial Elec. Iiy.,
the
pref. stockholders of record May 28 1917 were offered the right to
$478,541 are in treasury. $1,016,000 have been canceled.
A
sinking fund commenced Jan. 1 1906 on the outstanding consols.
Bonds
may be called for sinking fund at 105 and interest, and entire issue can be
redeemed at 105 and int. on any Int. day upon 6 mos.' notice.
See V. 74,
Earnings.—Of Halifax Elec. Tram. Co. (and consolidated cos. beginning
1917) for cal. years:
,
1914.
1915. I
1916.
1916.
1918.
1919.
Gross earns
$645,241 $718,840 $759,726 $859,668 $998,702 $1,258,502
Net, aft. taxes. 269.818
301,753
311,882
131,506
135,974
211,510
10,292,966 passengers carried in 1918, against 9,534,162 in 1917.
lit
approved by the stockholders of the Havana Elec. Ry., L. & P. Co.
Ry. stockholders approved the plan on May 27 1913
filed.
V. 98, p. 1840.
To date 49,989 (out of 50,000) shares pref. and 74,885 (out of 75,000)
shares common stock of the Havana Elec. Ry. have been deposited for ex¬
change of securities of new company.
The Havana Elec. Ry. owned entire
$100,000 stock of the'Insular Ry. Co.
Railway franchise runs until 1958.
Company also has right to carry freight over parts o 1 the system.
Gas and
electric franchises perpetual.
Stock Increase.—Stockholders voted on May 21 1917 to increase the pref,
stock from $15,000,000 to $21,000.000 to provide for the retirement on
June 15 1917, at par and int., of the $6,000,000 6% general consolidated
obligations of the former Compania de Gas y Electricidad de la Habana.
which were assumed by the Havana Elec. Ry., Lt. & P. Co., and constituted
a lien upon its property prior to the lien of its general M. bonds.
Com. and
was
The Havana Electric
and on June 18 1913 articles of consolidation were
Bonds.—Of the Havana Electric Co. consolidated bonds reported out¬
with
ORGANIZATION.—Incorp.
CO.
POWER
in July 1917, the
Inl919,6%.
Iul920,
deferred.
In 1918,6%.
V. 110, p. 167.
DOMINION POWER
&
standing,
Dividends.—A dividend of 3% was paid on pref. stock
Dec. 1917 dividend being
Jan. div. omitted.
LIGHT
ORGANIZATION.—Incorp. in New Jersey on Mar. 26 1912, absorbing
theCompania de Gas y Electricidad de la Habana (Gas & Electric Co. of
Havana), to acquire and hold the stocks of the Havana Elec. Ry. per plan
in V. 94, p. 767.
On May 15 1913 a plan for the merger of the properties
N.fcY.
payable at agency of Canadian Bank of Commerceiin
V. 109, p. 270.
also
Int.
RAILWAY.
ELECTRIC
HONOLULU RAPID TRANSIT & LAND CO.—Trolley.
ORGANIZATION.—Incorporated in Hawaii Aug. 30 1898.
Franchise
runs for 30 years from 1901. and permits the carrying of freight and mall
as
well as passengers.
1903 purchased
In
£65.000 stock and
track);
the Hawaiian Tramways Co. (having outstanding
£30,000 6% debentures, and comprising 12M miles of
the issue of $150,000 6% bonds of the
payment being made by
Rapid Transit Co.; 910 shares of preferred stock and $59,150 in cash.
In 1909 the Pearl Harbor Trac. Co. was incorporated with $100,000
owned by Honolulu Rapid Transit, for the purpose of ex¬
tending the Rapid Trans. Co.'s line to Naval Station at Pearl Harbor.
On July 24 1916 the Supreme Court of Hawaii sustained the decision of
Judge Stuart in the Circuit Court at Honolulu in 1915 denying the Injunc¬
tion asked for by the Territory of Hawaii to prevent the co. from increasing
Its capital stock from $1,207,500 to $1,600,000.
Stock was Increased from $1,207,500 to $1,600,000 in Aug. 1916.
V.
stock, 99.3%
In 1917 it was increased to $2,000,000.
bonds due May 1 1927 were called for pay¬
To provide therefor and for exts. and impts. the stock¬
holders voted
to Issue
$400,000 additional stock and to create a 5%
bond issue to be availed of as funds are required.
103, p. 938.
All the $528,000 1st M. 6%
ment
May 1 1917.
STOCK.—Authorized and outstanding
(par $100), $2,000,000.
Divi¬
dends payable Q.-M. 31.
Dividends may not exceed 8% on par value of stock
issued.
Excess of
income (after providing for sinking fund to retire bonds and capital stock)
must be divided equally between Govt, of Hawaii and stockholders.
All
pref. stock was converted into com. in 1913.
Dividends.—On common Dec. 31 1903, 1%; in 1904. 4%; in 1905, 4%; In
1906, 3H%: in 1907, 3%; in 1908, 4%; in 1909, 4%; in 1910. 4%; in 1911
and 1912, 6%; in 1913, and since, 8% per annum.
REPORT.— For years ending Dec. 31:
Calendar
Year.
1919
1918——
Gross
Earnings.
$780,946
735,151
726,603
669,982
Passengers carried in
1917
1916
Net
Int., Taxes,
Dividends
Balance,
Earnings.
Deprcn..&c.
(8%).
Surplus.
$325,252
$247,302
$160,000 def.$82,051
312,567
232,153
160,000 def. 79,586
332,636
227,025
152,000 def.46,388
314,546
117.933
112,300
84,313
1919, 19,086,786, against 17,888,937 in 1918.
ELECTRIC
apr., 1920. j
Gauge, 4 ft.; 70 and 85-lb. rails
1,900 k. w.
OFFICERS.—Pres., L. T. Peck; 1st Y.-P., L. A. Thurston: 2d V.-P.,
G. P. Castle; Sec., A. L. Castle; Treas., C. H. Atherton; Mgr., H. S. John¬
son.—V. 102, p. 1350; V. 103, p. 759,938; V. 104, p. 1387; V. 106. p. 1577.
ROAD.—Operates 26 miles of track.
64 vestibuled motor cars; capacity of generators,
139
RAILWAYS
372; V. 98.
p.
1993.
Interest.
Outstanding.
Maturity.
See text
5 g M-S
$530,000 Sept. 1 1946
New York Trust Co., trustee.
8TOCK AND BONDS—
Stock
mortgage
Date.
$1,000,000
First
gold
V. 90.
from $500,000 to $1,000,000.
Dec. 1909 increased authorized stock
p.
$2,500,000? 1906
c*l
($1,000)
& i., by the Manila Elec. RR. & Ltg. Corp.
Are
1 1928 and to purchase for sinking fund since
Sept. 1 1911 at not to exceed 105 and int., at which price bonds can be
drawn by lot.
See V. 80, p. 220.
$36,000 are held in sinking fund and
$84,000 are in treasury, not Incl. In outstanding amount as above.
ROAD.—Operates 7 miles of track from Manila to Fort William McKiney and Pasig.—V. 84, p. 220; V. 95, p. 1542.
Bonds.—Are guar., p.
subject to call after Sept.
kingston, jamaica.
WEST
I
ELECTRIC CO.—A trolley road.
INDIA
ORGANIZATION.—Incorporated 1897 In Jamaica.
In 1907 took over
the lighting business on a rental basis.
Franchise expires Jan. 1 1928.
Date.
Interest.
Outstanding.
Maturity.
$800,000 ($100)--- — - ....
5800,000 Apr'20.
600.000
Jan
1 1928
1898
5 g J-J
mortgage
$600,000
Montreal Trust & Deposit Co., Trustee.
lepc
($500) gold
c*
Interest at Bank of Montreal, Montreal.
Not subject to call.
STOCK AND BONDS—
Stock
First
■
Dividends.—First div. on
paid July 1 and Oct. 1 1908.
197
stock—1%—paid April 1 1908: 1% was again
In 1909, 4&%; since, 5% per annum.
REPORT.—For years ending Dec. 31:
Year—
Oross.
Net.
Int.&Rents.
Dividends.
Taxes.
Surplus.
$136,067
$42,000
$10,499
(5%)$40,000 $43,568
139,487
42,000
7,885 (5%) 40,000
49,602
Passengers carried in 1919, 6,463,947, against 4,837,931 in 1918.
$383,665
294,725
1919
1918
ROAD.—Operates 24 miles of track in and around
Gauge, 4 ft. 8% in.
90-lb. girder and 60-lb. T. rails.
MONTREAL TRAMWAYS
ORGANIZATION.—Incorp. In London, England,
london, canada.
STREET RAILWAY CO.—A trolley road.
Incorp. under
1873.
Franchise expires 1925, at which time, or any
fifth year thereafter, the city has the right to purchase the property (except
Springbank line) on an arbitration basis, by giving one year's notice In
advance.
($40)—
($1,000)
Interest.
Date.
J-J
gold/ 1896
5 g M-S
c*\Toronto General
—
94. p. 417. 207.
In March 1919 issued $7,300,000 5-year 6J^%
the
bonds.
new
offered the privilege of
V. 108, p. 784.
were
STOCK AND BONDS—
Outstanding.
Maturity.
$637,480
July'17 3%
560.000 Mar. 8 1925
Bonds.—The remaining $50,000 can
additions and extensions, when net earnings are
equal to 10% of all
bonds out, including those to be issued; but total debt must not exceed
$20,000 per mile of single track. V. 78, p. 2384.
Interest is payable at the
Canadian Bank of Commerce, Toronto.
In each of the 10 years preceding
maturity 5% of bonds shall be drawn by lot and redeemed at par on 40
days' notice.
$140,000 have been retired.
Dividends.—In 1901 8% was paid; in 1902, 8%; 6% in 1903, 1904, 1905
and 1906.
In 1907 dividends omitted on account of strike.
In 1908 to
1915, inclusive, 6% per annum. In 1916, Jan., 3% (cash); July, 3% (in
stock). In 1917, Jan., 3% (cash); July, 3% (in stock). None since.
cost of
198
REPORT.—Years ending Dec. 31:
Gross.
Net:
Charges.
Degree.
Surplus.
$83,232
$38,733
$29,209
$15,290
417,862
86,768
39,291
a
47,477
a Depreciation for 1917 adjusted through surplus account, included in
$105,000 written off the surplus.
Passengers carried in 1917, 11,374,396, against 11,518.428 in 1916.
1918.
$456,356
-
secured bonds to refund
due April 1 1919, a limited number
issue of $5,320,000 2-year notes
holders of which
Date.
of
exchanging their holdings for
Maturity.
Outstanding.
Interest.
$17,560,930
-
($100,7 1919
Bonds.—The 5-year 6H% bonds are secured by $7,000,000 debenture
stock of the Montreal Tramways Co. and $2,500,000 5-year 6% bonds of
& Power Co., Ltd., which are in turn secured by
$2,100,000 com. stock of the Montreal Tramways Co.
Redeemable, all
or in part, at 101 and int., upon 30 days' notice on and after Nov. 1 1921.
Interest payable at Merchants Bank of Canada, Montreal; Banque D'Hochelaga, Montreal; Agency of the Merchants Bank of Canada, N. Y.—V. 108,
784; V. 100. p. 812, 1618; V. 104, p. 1264; V. 107. p. 2294; V. 108, p. 269,
the Montreal Tramways
.
?84
Trusts Co., trustee.
only be issued for 66 2-3% of actual
-
Lt. & Power Co. stockholders received
for each share of their stock.
Montreal Tramways Co. and Can.
V.
6^gM-N
7,300,000 Mar 1 1929
$500 and $1,000) gold-_c*\ Montreal Trust Co., Montreal, trustee.
LONDON
STOCK AND BONDS—
in 1908, and controls
Montreal Public Service Cor
Montreal Hydro-Elec. Co.,
\M shares of Mont. Tram. & Power Co. stock
an
the laws of Canada in
First mortgage $750,000
canada.
POWER CO.—A holding company.
Montreal Tramways Co.,
Canadian Light & Power Co.,
Stock $20,002,000
Sec bonds $7,300,000
Stock $750,000
&
the following:
Kingston, Jamaica,
Hutchison: V.-P., G. J. Crowdy; Sec.,
J. M. Brady; Comp., J. H. Clark ; Acting Mgr., D. N. Barr.-—V. 101, p.
284; V. 102, p. 1164; V. 103, p. 58;;V. 104. p. 1168; V. 108, p. 1166.
James
OFFICERS.—Pres.,
montreal,
.
-
ROAD.—Operates 36.10 miles of track.
Standard gauge. 56, 73, 75
58 motor cars, 5 trailers and 6 misc. cars. Has
with the Ontario Hydro-Electric Power Commission.
Montreal Tramways Co.
(1)
ORGANIZATION.—Chartered
in
Montreal Street Ry., Montreal Park
1911 and acquired by merger the
& Island Ry. and Montreal Terminal
871, 1324), the last two companies being subsidiaries to the
Montreal St. Ry.
V. 93, p. 1022, 1106.
Owns and controls entire street
railway system in Montreal and Island of Montreal, except about a mile of
Interurban line entering the city.
Co.
(V. 93,
p.
New Franchise.—In Jan. 1918 representatives of the co. and the city
a new franchise agreement, running for 35 years, which provides
(o) for the creation of a permanent Tramways Commission of three persons
with complete powers over the service, fares, finances, exts. and mainte¬
nance; (b) fixes the valuation of the existing system at $36,286,295 for the
physical property, plus an unnamed amount to be specified by the Com¬
signed
mission
shall
thus
■
j
„
(d) allows tho company a further remuneration
which It does not exceed by more than 2lA% the
of % of 1% In each year in
estimated operation charges
>mpany can calculate upon
allowed by the Comm.
In effect, the company can calculate upon 6H%
laranteed minimum earning power so long as
on Its total Investment as a guaranteed minimum earning power so long as
efficiently administered.
The company can also look forward to a
surplus profits arising after the annual payment to the city of
of certain maintenance and guarantee funds,
and the ui
The surplus after
neither of which funds si ould be at all burdensome.
Is
and 80-lb. T and girder rail.
It
contract for power
share of all
& Treas., L. Tait,
London, Ont.; Gen. Mgr., C. B. King/London, Ont.—V. 104, p. 1489;
V 106, p. 607, 2345; V. 108, p. 878.
Chas. Currie, Akron, O.; Sec.
OFFICERS.—Pres.,
RAlTTwAY
LONDON & LAKE ERIE
& TRANSPORTATION CO.
On Oct. 15 1918 the company being defunct, ceased to operate, and,
according to official information, its assets have been scraoped.
V. 108, p. 2528.
Compare V. 109, p. 2263.
For history see this
tion of Sept. 29 1918.
See also
publica¬
ELECTRIC RAILROAD & LIGHTING CORPORATION.
franchise from March 24 1903, practically the entire
stock of the Union
Compania de los Transvias de Filiplnas, and over
98% of the stock of 'Electricista," a Spanish company having a 50-year
franchise for electric lighting and entire capital stock of Manila Suburban
Rys. Co.
Besides doing the street railway business, supplies light- and
power for private, municipal and Government use.
Municipality may ac¬
quire property after 25 years on a valuation fixed by net earnings, the Su¬
preme Court of the Islands being referee.
Stock and bonds are listed on the
Co.
and
of the
York
and
London
Truck
New
Stock Exchanges.
authorized stock from $8,000,000 to $8,000,000
On Dec. 6 1909 increased
V. 90. p. 372.
1919 brought out an issue of $1,500,000 3-yr.
being used for add'ns and impts. V. 109, p. 1079, 1179.
stock to be 6% cum. pref.
In Sept.
8tock
com
Interest.
Date.
STOCK AND BONDS—
$6,000,000 ($100)
$2,000,000 6% cum
First lien and coll tr $5,000,-7
Pref
5 g M-S
1903
•
7%inotes, proceeds
1
None
4,479,000 Mar. 1 1953
of H% of bonds outstanding began Mar, 1 1908
1% of bonds outstanding.
The fund Is to be
than 105 and Interest, at which price they
are subject to call for the purpose.
Are redeemable as a whole at 105 and
interest on or after Mar. 1 1928.
V. 82, p 218.
Bonds are listed on N. Y
Stock Exchange.
$518,000 are in hands of trustee for sinking fund.
$3,000 held by trustees in lieu of mortgaged property sold.
Bonds.—A sinking fund
ran
until
1917;
now
invested in the bonds at not more
sinking fund of 12M% of the auth. amount wnich must
be expended annually either for betterments and impts. to the property or
for the retirement of notes by purchase in the market or call by lot at not
Notes.—Have
a
redemption price.
No new rntge. other than purchase
money intges. shall be created on any of the co.'s property without equally
and ratably securing this issue.
Notes are red. all (or in part for sink, fd.)
upon any int. date on 1 month's notice at 102 and int. prior to Sept. 1 1921
and at 101 and int. thereafter.
Tax refundable in Penna.
exceeding
the
Dividends.—In
1906
and
1908 to 1910 incl.,4% in 1911
since, 6% per annum.
1907,3%; in
5H%: In 1912, 1913 and 1914, 7%;
Gross.
Net (aft.Tax.)
Int.&S.F.
Dividends.
$2,322,757 $1,198,487
$462,403
(6%)$300,000
1917
1,795,746
878,248
332,658 • (6%) 300,000
1916-.-- 1.594.079
758,655
308,817
16%) 300,000
From the surplus as above there was deducted $108,000 In
$80,000 In 1916 for the replacement and renewal fund, leaving
In 1917, against $69,838 In 1916.
$137,590
(including Manila Suburban Rys
suburbs.
70-lb. T and 92-Io. girder rails.
Owns 54
single and 77 double-truck passenger cars and 14 service cars.
Has con¬
tracted for a 5.000 k.w, turbo-generator the installation of which was ex¬
pected to be completed in 1919.
OFFICERS.—Pres., Charles M. Swift: Vice-Pres'ts, Joseph K. Choate,
R. B. Marchant and J. H. Pardee, New York: Sec. & Treas., T. W. Mof¬
fat.
Operated under management of J. G. White Mgt. Corp., New York.
—V. lOo. p. 813; V. 106, p. 924, 2560; V. 107, p. 77; V. 109, p. 1079, 1179
Co.
ORGANIZATION.—Incorporated in Connecticut.
Franchises run for
47 years from Jan. 30 1906.
Does both passenger and freight business.
Entire outstanding stock ($530,000) is owned by the Manila Elec. RR. &
..which
arantees the bonds prin.&int.
8eeV.84,p 220
Manila Suburban Railways
the P. U. Comm.
For further details see V. 106, p. 607.
Wage Increases.—V. 106, p. 2649; V. 107. p. 501.
Fare Increase.—In Sept. 1918 was auth. by the Quebec
P. U. Comm. to
6-cent fare in the daytime, or sell 5 tickets for 25 cents.
Between
m. and 5 and 7 p. m. 6 tickets are to be sold for 25 cents, while
school children's tickets will be sold at 7 for 25 cents.
Night fares are to be
15 cents cash.
Transfers are to be free.
V. 107, p. 1288.
Compare
a
a.
V. 106, p. 2757.
In Sept. 1919
increase in rates to 7 cents
the Montreal Tramways Comm.
announced
cash, 4 tickets for 25 cents and workmen's
V. 109, p. 982.
On Oct. 14 1919 the Quebec
P. U. Comm., on the appeal of the City of Montreal, fixed fares effective
Oct. 26 1919, at 7 cents cash with tickets at 5 for 30 cents and 44 for $2 50.
v. 109, p. 1610.
v
Outstanding. J Maturity.
STOCK AND BONDS—
Date.
Interest.
*$4,000,000
See text
Stock common
...
16,000.000
See text
Debenture stock
5%
16,335,000 July 1 1941
1st & ref mtge $75,000,000 g( 1911
5 J-J
an
tickets
at 5 for 25 cents,
($500&$ 1,000) Pay in Lon-1 Harris Tr. & Sav. Bk., Chic., Trustee. Nat
don pfci in £==$4 86 2-3-C*!
Tr. Co., Ltd., Montreal, Co-Trustee.
Sterling deb Montreal St Ryf 1893
4lA F-A
681,333 Aug 1 1922
secured by trust deod
1 Interest at Bank of Montreal, London, Knur
v
1902
4H gM-N 1,500,000 May 1 1922
Mont St Ry deb $1.500.000 g
($100. $500 and $1,000)-c* Interest at Bank of Montreal, Montreal.
1908
4
M-N
2,238.607 May 1 1922
Mont St Ry new debentures
Int. at Bank of Montreal, Montreal, Can.,
£460.000 (£100)-—
and London,
England.
•
Including as of June 30 1918, $596,670 unpaid and subjec
Bonds.—Of the 1st & ref. bonds $3,273,000 are reserved to
to call.
retire under¬
lying bonds (there being also $1,063,985 in cash deposited in addition for
{his purpose).
Remaining bonds are for extens. and add'ns at not exceed¬
ing 75% of cost under certain restrictions.
Red. as entire issue (but not
any part) at 105 and Int. on any int. date.
Int. payable in N. Y., Chic.,
Montreal and London. V. 93, p. 1463. Listed on theN.Y., (V.97, p. 1025).
Montreal and London stock exchanges
Under a trust deed, Montrea
Street Ry. debs, of 1902 and debs, of 1908 are of equal rank.
As of June30
1917, $1,146,847 of the underlying bonds reported outstanding had been
r6d66oi6(} cind c&ncclcd
since organization. In April.
the paid-up common capital
of 2A% was paid Aug. 1913 (V. 96. P- 1840). and
2A % quar. to and incl. May 1918.
In Dec. 11919 a div. of 2XA % for the
second quarter of 1918 was paid.
See V. 109, p. 2440.
In Mar. 1920
another div. of 2A % was paid on account of back divs.
V. 110, p. 1089.
In May 1920 2^% was paid.
Statement of Operations under New Contract Feb. 10 1918 to June 30 1919.
Dividends.—On deb. stock 5% per annum
1913
an
interim dlv. of 5% was declared on
A quar. div.
Ptock.
Gross earnings
--$11,572,210
- —
Oper. exp. & tax, $6,640,715; oper.
profit, $45,927; maint. &
Surplus.
$436,082
245,590
149,838
1917 and
Co.) in the city and
(1)
(f) An appeal from the Comm. lies to
present rate.
of Quebec.
renewals, $2,098,121; total
REPORT.—For calendar years:
ROAD.—Operates 47 miles of track
30% to the city treas-
fund
*
Outstanding.
Maturity.
$5,000,000 Apr'20.
000gold ($1.000)
—c*|Int. at Equitable Trust Co.. N. Y.. trustee.
3-year notes $1,500,000 ($100.1 1919
7 g M-S 1
1,500,000 Sept. 1 1922
$500 and $1,000) g—_c*tf (Int. at Guaranty Trust Co., N. Y., trustee
and
divided, 20% to the company,
rhich
and 50% to a fund for reduction of farqs, which may take place when
may take pli
rhei
accumulates to $1,000,000, and must take place whenever it
contains $2,500,000. (e)
Dividend distribution is limited Jo I0"#- the
10%.
ury,
the
6 and 8
manila, p. i.
MANILA
new
these charges is to be
charge
ORGANIZATION.—Incorporated in Connecticut on June 26 1903, ana
owns stocks and bonds of the Manila Elec. RR. & Light Co., having a 50year
$500,000
Allowances
due
co,
6%
on
capital value, $3,018,224; 6%
working capital, $40,645; 7%
exp.
8,784,764
$2,787,447
Balance
on
on
adds, to capital, $32,919;
3,343.142
of financing, $251,353; total
$555,695
Balance Dr
Payable when earned: City of Montreal rental,
tingent reserve, $115,722; total
—
Balance Dr
REPORT.-—For 7 mos. and 9
$692,694; con¬
808,416
—
$1,364,112
days ending Feb, 9 1918 and fiscal years
ending June 30:
June 30
Gross
Year— Earnings.
S
Net
Interest, Contingent
Earnings. Taxes.&c. Account.
!$
S
■
S
Dividends.
Balance,
Sur. or Def.
$
S
'
1917-18.4,652,748 1,504,74462,083.226 106,808 (7^)254,638 def.939,928
1916-17.7,725,499 3,123,727 2,248,373 350,000
(10)337,881sur.al87,473
1915-16.6,609,765 2,902.712 2,118.405 275,000
(10)323,871 sur.185,436
a From the surplus as above in 1916-17 there was deducted $110,000 for
war
tax
(estimated), leaving $77,473.
6 Interest on bonds, loans and
stocks included in this item is for the full year.
^ ^
ROAD.—Operates 260 miles of track.
The company's steam power
plant Is to be enlarged from 10,000 h. p. to 60,000 h. p.
V. 102, p. 345,
In 1964 contract was made with the Montreal Light, Heat & Power Co.
for a supply of power.
|
OFFICERS.—Pres.. E. A. Robert: V.-Ps.. J. W. McConneU and
Howard Wilson; Sec.-Treas,, Partick Dubee; Gen. Mgr., J. E. Hutcheson,
—V. 107, p. 1579; V. 108, p. 784, 2123; V. 109, p. 982, 1362, 1610, 2440;
V.
110, p.
franchise In
1963.
STOCK AND BONDS—
1089.
Stock $500,000
($100).
Canadian Lightl& Power Co.
ORGANIZATION".—Incorp. in Canada on June 2 1904.
See descrip¬
developments in V. 91, p. 591, and V. 89, p. 848.
Has
the perpetual right to distribute and sell power and light in Montreal and
several adjacent counties.
Distribution system in Montreal has been taken
over by the Montreal Public Service Corp.
and modern hydro-electric plant at St.
Tiraothee. 28 "dies from Montreal; present development about 30,000 h. p.
Ultimate development, 75.000 b. p.—V. 89, p. 848. 1283: V. 91., p. 591.
(3)
a
new
business of San Juan, San Turce and Rio Piedras; also controls entire
lighting systems in cities of Comerio, Bayamon, Catano. Carolina, Caguas.
Rio Grande, Fajardo. Humacao, Yabucoa, Gurabo. Juncos and other towns
in east end of island.
Its lighting franchises in San Juan and San Turce are
perpetual.
The Comerio Water Power and Oaguas Tramway franchises
are for 99 years from 1906.
The street railway franchise runs until 1959.
An express service was inaugurated in 1908 In conjunction with Porto Rico
power
FALL?, CANADA.
Express Co.
Contract.—Has
ORGANIZATION,—Incorporated in Canada in 1899.
A consolidation
of the Niagara Central Ry., the Niagara Falls Welsey Park & Clifton Tram¬
way Co. and the Port Dalhousie St. Catharine's & Thorold Electric Street
Ry.
Franchise perpetual.
Owns and operates Niagara St. Catharine'*
A Toronto Navigation Co.; also transports freight.
Shareholders voted 1910 to make an issue of 2d mtge. bonds at rate or
$10,000 per mile to Nat. Tr. Co., Ltd., Toronto, trustee. V. 90, p. 54.1296
Outstanding.
Interest.
|
London.
Bonds.—Of the Railway bonds $20,000 per mile is authorized and issued.
See V. 82, p. 869.
The Navigation bonds are guaranteed by the Railway
p.
Neither Issue is subject to call.
& 1.. by endorsement.
ROAI).— Owns and operates 61.67 miles of track.
housie
on
Runs from Port Dal¬
Merritton, Thorold
18.5 miles
also an ex¬
from St. Catharines to Niagara-on-the-Lake.
EARNINGS.—For cal.
Cal. Years—
years:
Gross.
Expenses.
Int.
Charges.
$926,390 $717,953 $208,437 $110,811
766,422
569,961
196,462
135,873
756,590
500,022
256,568
118,873
1918
1917
Surplus.
$97,626
60,589
137,695
OFFICERS,—Pres., D. B. Hanna, Toronto; V.-P., A. J. Mitchell,
Toronto; Sec.I R. P- Ormsby; Gen. Supt., E. W. Oliver, Toronto.—V. 90*
p. 54, 1296.
div.
1936
V. 94. p.
105 and inc.
on
REPORT.—For calendar years:
Net.
Gross.
Year—
Oth.Rev
$435,939 $23,603
430,092
16,537
396,411
4,800
$1,129,782
1,035,955
902,393
1919
1917
1919
1
Amount
line has been replaced with 80-lb. rail.
41 pass, cars, 10 freight cars, 7 elec¬
tric locomotives, 3 electric snow plows and 3 miscellaneous cars.
Also
owns
two steamers.
Permission to bufld several extensions has been
granted by the Dominion Parliament.
Nov
pref., \%%, paid Jan. 10 1910, and same
quarterly since to ana including Apr. 1920. On com., 1st div., 1%,
paid Oct. 1911.
In 1912 and 1913, 4%.
In 1914, Jan.. 1%; April. 1%:
July 1%,.
None since.
Divideruls.—First
1918
miles
2.548.000
5 M-N
gold
ing fund (1% of bonds out beginning in 1937) at
1566.
Are listed on London Stock Exchange.
Main
tension of 12.2
1906
Maturity.
Outstanding
See
text
$3,000,000
1,000.000 Apr '20, 1 %
Q-J
Q-J
Bonds.— First mtge. bonds are subject to call at 105.
Sink, fd. of 1%
of bonds issued plus one year's int. on canceled bonds began Nov. 1908.
$452,000 bonds canceled.
First Mortgage bonds are listed on Montreal
and Toronto Stock Exch. Of ref. gen. mtge. bonds £523,700 are reserved for
lsv M
bonds and £118,500 are in treasury; remainder for future require¬
ments under restrictions.
Subject to call as a whole or for cum
sink¬
Lake Ontario, passing through St. Catharines,
and Niagara Falls, Ont., to Falls View, Out. Has an extension of
from Thorold through Fonthill and Welland to Port Colborne;
Interest.
the city of San
(Int.
at
Montreal
Trust
Co.,
Trustee,
I Montreal and Halifax, or Metropol. Bk., Tor.
Refunding general mortgage! 1912
5 M-N
£265,000 May 1 1962
£1,500.000 (£100)
c*[Int. in London, Montreal and Toronto; MonI.
treal Trust Co.. Trustee.
($500)
Maturity.
Date.
$3,000,000
Pf $1,000,000 ($100) 7% cum
First
mortgage
$3,000,000(
__
of Scotland,
stock
contract with
various periods.
5-year street-lighting
STOCK AND BONDS—
Common
$1,000,000
$925,000
Railway First mortgage goldf 1899
5 g M-N
1,098.000 Nov 1 1929
($1,000)
($1,000 or £205(Int. at Canadian Bank of Commerce, Tor9s 8d)
c*|
onto, and Bank of Scotland, London.
(National Trust Co., Ltd., Toronto, Trustee
Second mortgage
1910
None
Navigation Co First mort-f 1903
5 g M-N
200,000 Nov 1 1929
gage
$250,000 ($1,000 or)lnt.atCanadianBk.ofCom.,Toronto&N.Y.
£205 9s8d) goid__
c*(National Trust Co.. Ltd.. Toronto, Trustee.
also at Bank
a
and with about 30 other towns for
Juan
Stock
Interest
.54 miles of
w. capacity.
PORTO RICO RAILWAYS CO., LIMITED.
NIAGARA ST. CATHAR. & TORONTO RY.
Date.
.
Harry T. Edgar; V.-P., Francis J. Hovey; Treas.,
Henry B. Sawyer; Sec., Victor D. Vickery; Gen. Mgrs., Stone & Webster
Management Association.—V. 74, p. 268, 478.
OFFICERS.—Pres.
the San Juan
Light & Power Co.
STOCK AND BONDS—
$34,525
36,807
$24,237
25,024
ORGANIZATION.—Incorporated in Canada Oct. 1906 and has acquired
Light & Transit Co. and Porto Rico Power & Light Co. and
Oaguas Tramway Co.
Controls all the electric railway, electric light and
Electric & Water Co.) has acquired
Paul Electric Lt. & Pow. Co. and
the distribution system of the Can. Lt. & Pow. Co. in Montreal.
Control*
an established business in various important sections of the city and pro¬
;an.
vides a market for a large amount of the power developed by the Ca
This company (formerly the Saraguay
the Dominion Lt., lit. & Pow., the St.
NIAGARA
Dec. 31 1919
ROAD.—Operates 5.53 miles of equivalent single track,
trackage. 12 cars. Gauge. 1 metre. Power station has 950 k
Corporation.
Service
Public
Montreal
$500,000
$58,763
61,831
$210,264
174,585
1919
1918_._
Sink. fd. began July 1 1914.
PROPERTY.—Owns
Maturity
Outstanding.
year—
subj. to call all or any at 105 at company's
Int. payable in Montreal or London
Bonds.—Jst mtge. bonds are
Interest.
....
EARNINGS.—For 12 months ending Dec. 31 (combined companies):
Gross.
Net(aft.Tax)
Interest.
Sink.Fd.
Surplus.
Outstanding.
Maturity.
$6,000,000 ....
First
mortgage
$6,500,000!
5 J-J
6,500,000
($500 and $1,000)
[Royal Trust Co., Canada, Trustee.
option.
Date.
mortgage/ 1902
had been canceled by this fund to
Interest.
Date.
___
6 g M-N
208,000 May 11927
$750,000 gold
c*.tf [Int. at Boston S. D. & Tr. Co., Boston, Trus.
Bonds.—Callable as a whole at 105 and int. on any Int. date.
A sinking
fund of 1% per annum of bonds issued became operative May 1 1903 and
is Invested In the bonds at not njiore than 107 4 and int.
$42,000 bonds
tion of company's
STOCK AND BONDS—
Stock $7,000,000 ($100)
PORTO RICO.
PONCE,
PONCE ELECTRIC CO.—Incorporated in New Jersey in 1902.
Owns
the securities of the Ponce Ry. & Lt. Co. .which operates the railway between
Ponce and the Playa (Port) and does the entire lighting and power business
of Ponce and the Playa.
Railway franchise expires in 1961, electric-light
Collateral trust first
U!(2)
[Vol. 110.
ELECTRIC RAILWAYS
140
Interest.
$193,883
196,200
198,417
Surplus.
Pref.Div.
$70,000
70,000
70.000
surplus Dec. 31 1919 was $289,173. after deducting
income tax reserve and $100,000 depreciation reserve.
6,768,195 passengers carried in 1919, against 6,505,690 in
Total
$195,660
180,429
132,795
$10,000 for
1918.
ROAD.—Operates from San Juan to Rio Piedras, 9
miles, electric.
Standard gauge.
An extension of 18 miles to Oaguas, which Is being oper¬
ated by steam, meter gauge, was
completed in 1908.
OFFICERS.—Pres.* Dr. D. E. Thomson. K. C.:V.-P., W. D. Ross,;
Sec., T. A. Spoor; Gen. Mgr., O. M. Sewell; Asst. Gen. Mgr., F. C. Clarke,
San Juan, Porto Rico.—V. 99. d. 463, 895, 1367; V. 100. p. 902; V. 102,
1163; V. 104, p. 765; V. 106, p. 1901; V. 110, p.
p.
1188.
i
OTTAWA, CANADA.
OTTAWA TRACTION CO.,
QUEBEC, CANADA.
LTD.—A holding company.
QUEBEC RAILWAY LIGHT HEAT
ORGANIZATION.—Incorp. Oct. 23 1913. and has acquired $1,860,100
Of the stock of the Ottawa Electric Ry.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity
Stock
$10,000,000 ($100)
Q-J
$5,581,200
See text
Dividends.—First div.—1%—-paid July 1 1914; same rate quar. since,
with 1% extra In January, making 5% per annum.
OFFICERS.—Pres., T. Ahearn; V.-P., Warren Y. Soper;
Sec. &
Treas., G. L. Snelling; Aud., A. A. Crawley.—V. 107, p. 803; V. 109, p.
2263.
(These companies do
business
in
Quebec
(1)
Ottawa Electric
Ry.—A trolley road.
ORGANIZATION.—Incorporated In
Is
1894.
a
consolidation of the
Strike—Acquisition by City Possible.—A strike lasting 2 days was ended
Aug. 15 1918, the men accepting the award of a board of conciliation, which
increased their wages an average of 25%.
See also V. 109, p. 1080.
As a
result of Its difficulties with its employees the company suggested that the
city take over the properties.
V. 107, p. 803, 1004.
In Feb. 1919 the
company offered to sell all its properties to the city of Ottawa at a price of
about $6,500,000, the city being given an option until May 1 1919 at this
figure,
V. 108, p. 579,
In March 1919 official notice was given that the
city of Ottawa would a
"
~
take over and operate t'
however, the city decided
the
Interest.
Outstanding.
Date.
Maturity.
$1,876,900
See text
Q-J
($100)
386.000 July 5 1922
4 g J-J
1897
$500,000 gold
Trustee is
c* Interest at company's office.
Toronto General Trusts Corporation.
STOCK AND BONDS—
$4,000,000
($1.000)
10% of the Issue in excess of $350,000
retired in each of the 10 years preceding maturity. $114,000 have
Bonds.—Are not subject to call;
must be
been retired.
Dividends.—From
1806 to
with
the
Government.—The Dominion Government has contracted to
uebec
SurchaaeMontmorency & Charlevoix July 1 extending from St. lines: St.,
(ownership to date back to Ry., 1918) the following Paul (a)
Quebec, to St. Joachim, 43.2 miles [but see V. 110, p. 562]; (6) Quebec &
Saguenay Ry
extending from its junction with the Quebec Mont, & Charl.
Ry. at St. Joachim to Nairn Falls, 62.8 m. (acquired in March 1919); (c) Lotbiniere & Megan tic Ry., extending from Lyster to St. Jean des Chaillons, about 30;miles.
The purchase price of these properties is to be
"the
value
thereof as
determined by the Exchequer Court of Can¬
.,
value to be the actual
cost of said railways, less sub"
less
depreciation,
but not
to exceed $4,349,000, exclu¬
outstanding bonded indebtedness, which is to be assumed by
the Government, but not to exceed In all $2,500,000" [belngthe $2,500,060
Quebec-Montmorency Ry. 1st M. 5s of 1899, due 1923].
The lines are to
be operated by the company until actual possession Is taken and the com¬
panies must render an accounting to the Govt, from June 30 1918 until
ada;
said
aidies
sive
and
of
properties are taken over.
See V. 102, p. 2255; V. 103, p. 579; V. 104,
560.
In 1916 the Canadian House of Commons voted to appropriate
$4,000,000 for the purchase of the foregoing lines.
During 1917 $332,255
was
exnepded on the properties and on Sept. 6 1917
the House reappropriated the remainder, $3,667,745.
On Mar. 4 1919 the Govt,
acquired the Quebec & Saguenay Ry. "free and clear of charge, incum¬
brances or claims," purchase price being $3,489,313.
V. 108. p. 974.
It was announced in May 1919 that the proceeds of this sale, after tne pay¬
p.
Fares.—Effective Aug, 31 1918, the co. abolished the sale of reduced rate
tickets and established a straight 5-cent fare. V. 107, p. 1193.
See also
V. 108. p. 974.
First mortgage
electric-light and power, gas and street railway
surrounding parishes.
Has contract
for supply of power.
V. 94, p. 1449.
the
company's charter.
Stock
an
and
Stadacona Hydraulic Co.
Purchase by
Ottawa City Passenger Ry. and the Ottawa Electric Street Ry.
In Nov. 1912 increased its auth. stock from $2,000,000 to $4,000,000.
& POWER CO., Ltd.
ORGANIZATION.—Incorporated In Canada on Nov. 19 1909 as a con¬
properties (V. 89. p 1598):
Quebec Jacques Carder Electric Co.
Quebec Ry., Lt. & Power Co.
Canadian Electric Light Co.
Quebec Gas Co.
Quebec County Railway Co
Frontenac Gas Co.
solidation of the following
in 1905, 2% extra; In
in 1912, 16X%\ since, 15%.
1893 to 1905, 8% per annum;
1911, inclusive, 12%
per annum;
ment of the contractor's
claim, would be used to reimburse the bondholders
of the Saguenay Ry..
thus relieving the co. of paying int. thereon. V. 108,
1938.
The Quebec Ry., Lt., Ht. & Pow. Co. acquired the Quebec & Saguenay
Ry. Co. in 1911 through purchase of its $2,500,000 atock and $3,000,000
5% bonds and in turn issued Its own bonds of 1911 and 1912 shown in the
table below, to pay for same.
V. 92, p. 882, 528.
These bonds ijrere in¬
tended to provide for Quebec-Saguenay line, extending 56 X miles from
Cape Tourmente to Murray Bay.
In Sept. 1912 construction work on this
p.
EARNINGS.—For years end. Dec. 31 (1917_report in V. 106, p. 1790):
Calendar
Gross
Net
Interest,
Conting. Dividends Balance,
Year—
Earnings.
Earnings. Taxes,&c. Account.
1918x
.$1,323,830
$477,010
$117,182
$60,000
1917—_
1,240,627
535,289
125,623
110,000
Passengers carried in
(15%).
$281,580
281,580
Surplus.
$18,086
18,248
^918, 29,723.068, against 29,347,692 in 1917.
xNo later figures published.
ROAD.—Operates 52
miles
of track
in
city,
and
to
Hull. Rockliffe.
Has a park
Rails, 72. 80. 94
Britannia-on-the-Bay and Government Experimental Farm.
of 60
at Britannia-on-the-Bay.
and 115-lb. T and girder.
acres
OFFICERS.—Same
p.
1080.
as
Standard
for Traction Co.—Y.
gauge.
108,
p.
1391, 2123; V. 109,
completed construction of the road in 1918 and in Mar. 1920 it was being
operated by the contractors.
On July 7 1917 the company was awarded $275,000 for the property
known as the
Quebec Gas Co.'s land, which was expropriated by the
Federal authorities, according to a decision by the Exchequer Court.
Coupon Payments Delayed.—The interest due June 1 1913 and Dec. 1
was not paid when due and in Sept.
1914 It was announced that tha
June 1 1914 were not paid on time, the company following the
policy of paying the coupons at intervals through the three months grace
following the due date.
V. 99. p. 748
Subseouent coupons have been
paid within the time limit allowed. V. 109, p. 776.
1913
coupons due
ELECTRIC
Apr., 1920. J
Int. due Dec. 1 1914 on the Quebec-Jacquee
was
Ill
Cartler Elec. 1st refdg. 5a
A protective committee was formed
Broadway, New York City, as Secretary, and
defaulted.
quested to deposit their bonds with the Bankers
v. 100, p. 403.
Interest was subsequently paid.
sequent coupons have been paid to date.
with W. L. Hallahan,
bondholders were re¬
Trust Co., New York,
V. 100, p. 559.
Sub¬
Fare Increase.—On June 22 1918 was auth. by the City Council to sell
for 25 cents instead of 6 and 8
tickets, respectively, as theretofore.
V. 106, p. 2650.
Effective Nov. 15
1919 was auth. to increase fares to 7 cents cash, with 4 tickets for 25 cents
and 6 workmen's tickets for 25 cents.
Stock $10,000,000 ($100)
Q-J 15
$9,999.500Jan.l5 *12,1%
Consolidated mortgage $10,-f 1909
5 g J-D
5,459,900 Dec. 1 1939
000,000 g ($100 $500 and-jlnt. at Montreal Trust Co., Mont., trustee
5 tickets for 25 cents and 7 workmen's tickets
I
_
1 1941
N. Y., trustee,
Canada, Quebec.
Mortgages on lines to be taken over by Govt.—
Que-SagDlv IstM $2,500,000 f 1911
5 P-A
2,356.000 Feb. 11941
sink fd. P & i payable inj Int. at Dominion of Can. Tr. Co.,
Montreal
francs or Canadian curr.c1*!
Trus., or at office of R. Forget, Paris.
Que Ry L H & P new mtgel 1912
5 J-J
2,100,000 Jan
1 1942
60,000.000 francs(500 fr)__/
Quebec-Montmorency Ry Mf 1899
5%
2,500.000 June 1 1923
1,000
c*l
Union Bank of Canada,
?old $2,500,000 ($100 $500(Int. at Bank of Montreal,Quebec.
Montreal, and
..
Bonds.—Consol. mtge. 5s of 1909 are red. at 105 and int. on any Int. day
$3,411,000 of the consol. bonds are reserved to retire underlying bonds and
$1,129,190 are in treasury.
$144,000 Quebec-Saguenay Div. bonds have
canceled.
Dividends.—Initial div—1%—paid April 15 1911; July, 1%; Oct.. 1%,
In 1912, Jan., 1%; none
since.
end. June 30 (1918-19 report in V. 109, p. 1180):
Gross
Net
Misc.
Charges and Balance,
Earnings.
Earnings.
Credits.
Taxes.
Surplus.
$2,077,621
$633,105
$27,723
$726,102 def$65,274
1,797,853
562,128
230,088
696,910
95,307
REPORT.—For years
June 30
Year—
1918-19
1917-18
1916-17
1,832,032
706,326
230,850
676,063
ROAD.—Owns 19.77 miles of track in Quebec.
gauge,
200,587
56 and 70-lb. T rails,
4 ft. 8)4 in-
Hon. Lome C. Webster, Montreal; V.-P., HonSec., Arthur LeMoine, Quebec; Treas., R.A.Wilson:
Lynch; Comptroller, H. G. Bosse.—V. 107, p. 1005:
1187, 1288, 2290; V. 108, p. 879, 974, 1938; V. 109, p. 776. 1080, 1180.
V. 110, p. 562.
OFFICERS.—Pres.,
D. O. L'Esperance;
Gen. Mgr., W. J.
SHERBROOKE, QUEBEC.
RAILWAY & POWER CO.
SHERBROOKE
1917 the Southern Canada Power Co. acquired
of the co.'s stock on the basis of 4 shares of Sherbrooke Ry. & Power Co. stock for 1 share Southern Canada Power Co. 6%
preference stock, cumulative from Jan. 1920.
V. 104. p. 74.
Control.—As of March 1
more
than 10,000 shares
ORGANIZATION.—Incorp. in 1910 in Quebec, Can., as successors to
the Sherbrooke Street Ry.
In July 1911 acquired the Eastern Townships
Elec. Co. and the Stanstead
Elec. Co.
V. 93, p. 230.
Also owns the
Lennoxvile Light & Power Co.
Controls major part of the electric light
and power business in the district between Sherbrooke and the I nternati onal
Boundary.
Burroughs Falls Power Co., which controls the elec¬
business in Ayers' Cliff, Que. V. 97, p. 1824.
In 1914
acquired the International Elec. Co., doing the electric light and power
in
1913 acquired the
tric light and power
business in
Derby Line, Vt., and in 1915 acquired the lighting
business of Geo. Gole & Sons in
Waterville
ana
and power
Compton, Quebec.
from taxation
for 1st 20 yrs.
At end of 20 yrs. city may purchase street railway property.
Consol. mtge. 5s were offered with a 40% stock bonus.
V. 91, p. 95: V. 93,
p. 590; V. 94, p. 1120.
In Aug. 1910 entered into a contract for a supply of 2.000 h.p. from the
Southern Canada Power Co., Ltd., to be used in connection with its own
power development.
Fares.—In Dec. 1918 was auth. to increase fares from 5 to 6 cents and
in Mar. 1919 applied for a further increase to 7 cents.
V. 108, p. 1276.
Franchise in Sherbrooke is for 40 yrs., exempting property
No later information.
Interest.
Outstanding.
Maturity.
$1,127,000
1910
5 g J-J
1,006,000 July 1 1940
s f ($500 or £ equivalent) tf [Montreal
Trust Co., Montreal, Trustee.
Sherbrooke Street Ry 1st M tr 1897
5 g J-J
100,000 J'ne30 1927
Collateral notes ($100,000) g(
1915
7 M-S
32.500 Sept 1 1920
($100, $500. $1,000)
Unt, at Prudential Tr. Co., Ltd.. Mont., trus.
Bonds.—Of remaining consol. mtge. bonds, $194,000 are for future ex¬
tensions, $100,000 are to retire Sher. St. Ry. bonds, and $200,000 are
deposited as security for the notes,
'nt. at any branch of Eastern Town¬
ships Dept. of the Canadian Bank of Commerce in Canada, or at National
Bank of Scotland, London, Eng.
Red. as a whole at 105 and int. on any
int. day, or in part for sinking fund.
Cum. sinking fund of 1% began
July 1 1916.
$16,000 held in sink. fund.
The collateral notes are secured
by deposit of $200,000 cons. M. 5s.
They are red. at 102)4 and int. on 3
STOCK AND BONDS—
($ 100)
$1,500,000
Date.
Stock $ 1,500,000
Consol.
M.
gold]
months' notice.
REPORT.—For years end. June 30 (inter-co.
Year—
i\el
Revenue.
Total
June 30
Income,
$66,350
55,920
1915-16..$140,069
1914-15.- 116,769
Bond
Interest.
Other
Int.
$54,525 $3,899
49,535 ■/ 4.204
charges eliminated In 1916):
Written Office
Balance.
Off. &c.,Exp.
Surplus.
$2,780
376
$1,427
1.780
miles of track in Sherbrooke. including
extension to Lennoxville.
Standard gauge, 70-lb. T rail.
ROAD.—Owns
$583,023
513,005
1919
1918--
10 H
$3,719
24
3-mile
120,596
OFFICERS.—Pres., A. S. Pratt;
V.-P., Frederick S. Pratt; Sec.,
T. Clark: Treas., H. B. Sawyer; Gen. Mgrs., Stone & Webster Mgt
1103
p.
V. 106,
p.
1900.
TORONTO
RY.—A trolley
road.
ORGANIZATION.—Incorporated in 1892 and acquired by purchase the
exclusive privilege to work street
old Toronto City Street Railways and the
railways in the city of Toronto for a term of 30 years from Sept. 1 1891
(with the exception of two small reservations in the Act which are believed
no importance), a privilege which has since been ratified by Act of
Owns, directly or indirectly, practically the
capital stock of the Toronto & Mimico Ry. (now the Toronto Power
Co., Ltd.); Toronto & Scarboro Electric Ry., Light & Power Co.; Metro¬
politan Ry. (in March 1919 the City of Toronto purchased the Yonge
St. section of this company's property for $590,000
V. 108, p. 1166);
Schomberg & Aurora Ry.; Toronto & York Radial Ry.; Toronto Power
Co., Ltd.; Electrical Develop. Co. of Ontario, Ltd.; Toronto & Niagara
Power Co.; Toronto Electric Light Co., Ltd.; London Electric Co.. Ltd.
(now part of Toronto & Niagara Power Co.); Niagara Falls Electrical Trans¬
mission Co. (N. Y.) and Niagara Falls Gap & Elec. Lt. Co. (N. Y.).
In
Oct. 1902 stock was increased to $7,000,000, and In April 1906 to $8,000,000.
On Aug. 14 1911 stockholders voted another increase to $12,000,000,
and also the payment of a stock dividend of $1,000,000.
Stockholders
were allowed to subscribe for $2,000,000 of the stock at par.
V. 93, p. 230,
470.
On May 29 1916 the shareholders voted to increase the stock to
$15,000,000 to provide funds for the financial requirements of the company
and for necessary extensions and betterments for the subsidiary companies.
No action was taken by the directors as to disposition of new stock.
V.
102, p. 2078.
to
be of
Legislature of Ontario.
the
entire
19
Payments to City.—As to annual payments to city, see "Supplement "of
May 1898.
Paid to city in 1919, $1,398,470; in 1918, $1,301,266; in 1917,
$1,187,031; in 1916, $1,113,010; in 1915, $1,064,072; in 1914, $1,122,914; in
1913, $1,089,708; in 1912, $942,049; in 1911, $822,233; in 1910, $727,480; in
1909, $640,281; in 1908, $578,995; in 1907, $542,091.
Statement by Pres. Mackenzie.—As to his holdings, &c., see
V. 106, p.1462.
Purchase by City Authorized.—On April 23 1913 the Ontario Legislature
passed a bill authorizing the city to purchase the company's property; also
the rights and interests of all companies and persons owning or operating
electric railways within the city and such plants of them outside the city
as it may deem expedient.
The city is also authorized to borrow the money
For further details see V. 96, p. 1365.
Authority to
required therefor.
purchase the Toronto Electric Light Co. was given under a previous Act.
For negotiations in 1913-1914 for the purchase of the company's property
by the city, see V. 96, p. 1774; V. 97, p. 238, 1664. 1899.
On Jan. 1 1918
the citizens of Toronto voted in favor of the City's taking over the co's
See also
properties upon expiration of the franchise agreement in 1921.
V. 108, p. 2331; V. 109. p. 174, 2264.
1920 were Issued in Dec.
V. 107, p. 2189.
Notes.—The $1,000,000 6% notes due Dec. 1
1918 to retire a like amount due at that time.
denied the co. per¬
V. 107, p. 1580.
Fares.—On Oct. 10 1918 the Toronto Board of Control
mission to charge a straight 5-cent
fare.
Outstanding Last Div.,&c
Interest.
Dale.
STOCK AND BONDS—
$15,000,000 ($100)
Q-J
$12,000,000
See text
M, $4,550,000, $ & £.1 1892
a4J4 g
2,502,307 Aug 31 1921
$35,000 per mile..
c*\Trus., E.R.Wood,Tor.,&. R.B.Angus, Mont.
Notes
$1,000,000
($1,000) \ 1918
6 g J-D
1,000,000 Dec 1 1920
Stock
First
gold
&
Toronto
first
York
mtge
guaranteed
a
ctff/Cont. & Comm. Tr. & S. B., Chic., Trustee.
Ryi 1904
5 g A-0
1.640,000
Oct 1 1919
National Trust Co., Ltd., Toronto, trustee.
c*|lnt. at Bank of Montreal, Toronto and N. Y
principal on sterling bonds payable Feb. 28 and Aug. 31
Radial
gold
interest, and
at Bank of Scotland,
($1,000)
Lothbury, London, E.G.
Sinking Fund.—The company is obliged to redeem
ssue by drawings at par yearly from Aug. 31 1911 to
5% of its total bond
1920.
subject to payments due
the city.
$2,047,413 first mtge. bonds have been retired.
Bonds are
listed on London Stock Exchange.
Notes are the direct obligation of co.
and are endorsed by the Toronto Power
Co.
The Toronto Ry. pays
$43,500 monthly beginning Jan. 20 1919 to the trustee for the purchase of
these notes in open market at not exceeding par and int.
This will be suf¬
ficient to retire these notes by maturity.
No bonds or other funded debt
may be issued prior to Dec. 1 1920 unless funds are provided for the re¬
demption of these notes.
Interest is payable in New York, Toronto and
Montreal.
The co. agrees to pay all Canadian and U. S. taxes, so far as
Bonds.—The first mtge. covers entire property,
permitted by law, including the normal U. S. income tax up to 4%. The
Toronto & York Radial Ry. first mtge. 5s are guar., principal and interest,
by the Toronto Ry.
Dividends.—In
1898, 4%; in 1899. 4%; in 1900. 4%; in
1902 to 1905. lncl.. 5%
per annum;
1901. 4)*%; in
in 1906. 63*%; In 1907, 6%; in 1908,
6%; in 1909, 63*%: in 1910, 7%; In 1911, Jan., 1?*%, April, 13*%,
1 »*%; in Aug. declared a $1.000.000 stock dividend (V
93. p. 470);
July,
net .
In 1918, 6%.
In 1919,
1166, 1276.
ROAD.—Operates 127.581 miles of track; 69. 73 and 90 lb. girder and
70-P
T rails.
Owns 894 passenger cars, of which 762 are motor cars.
REPORT.—Of Railway Co. for cal. years (1919 report in V. 110, p. 1079)
Calendar
Gross
Net
Total
Dividends
Balance,
Year—
Earnings.
Earninqs
Deductions
Paid.
Surplus.
2% in 1912; to and incl. 1917, 8% per annum.
Jan., 1%; March div. passed. V. 108, p. 1061,
$7,234,895 $1,579,237 $1,565,962
6,526,302
2,016,651
1,515,081
(4%)$480,000
in 1919, 182,377,494; transfers, 70,446,128;
166,510,326; transfers, 63,176,397.
Revenue passengers
Mgr., Robt. J. Fleming; Sec. & Treas., J. C.
1166, 1276, 2331; V. 109, p. 174, 677, 2264;
SYDNEY, NOVA SCOTIA.
$13,274
21,570
in 1918,
Frederic Nicholls;
Grace.—V. 108, p. 974, 1061,
ORGANIZATION.—Incorporated in Nova Scotia and does the eucire
electric railway and lighting business in Sydney; the entire electric lighting
business in North Sydney, the ferry business between Sydney and North
Sydney, and operates an interurban line between North Sydney and Sydney
Mines. Also owns cap. stock and $220,000.of the $376,000 oufcstandiing 1st
M. bonds of the Sydney & Glace Bay Ry. Co., Ltd., an interurban line 19 m.
in length between Sydney and Glace Bay, which is operated under lease for
99 years from Jan. 1 1911.
Guar, payment of said co.'s bonds, principal,
interest and sinking fund.
Franchises expire 1931 and 1932.
On May 5
1914 authorized pref. stock was increased from $250,000 to $500,000.
Date.
Interest.
Outstanding.
Maturity.
M-N
$1,125,000 Nov.'19,1X
($100)
M-N
234,000 Nov.'19,3%
$1,500,000/ 1902
5 J-J
1.096.000 Jan 11932
Kuld
c.ntfllnt. at State St. Tr. Co.. Boston, trustee.
Sydney & Glace Bay 1st M,f 1902
5 J-J
156,000 July 1 1932
$500,000 guaranteed.c.ntflInt. at Royal Trust Co., Montreal, trustee.
STOCK AND BONDS—
$1,125,000 ($100)
Prof 6% $500,000
First
mortgage
Stock.—Preferred stock Is redeemable at 120.
Capital stock auth. by
$2,000,000.
Of the unissued portion as much may be preferred as
stockholders determine.
charter,
the
Bonds.—Of the 1st mtge. bonds. $2,000
canceled for impt. fund.
Impt.
issued.
Red. at 105 and int. on any Int. date.
Of
& Glace Bay 1st mtge. bonds, $64,000 have been canceled by
$220,000 held by Cape Breton Elec. Co.
Red. as a wholeiat
fund of 1% of bonds
Sinking fund of 1% per annum.
1) on pref. stock.
On com., 1st div.
1)4%. Paid Nov. 1910; in 1911, 4%; in 1912, 4% & 1% extra; in 1913 and
1914, 6%.
In 1915 and since, 3%.
110 and int. on any
Dividends.—6%
int. date.
yearly (M.-N.
V. 110, p. 765, 1079.
(1) Toronto Power Co.
ELECTRIC CO., LTD.
BRETON
the Sydney
sink, fund,
I
CANADA.
TORONTO,
THE
OFFICERS.—Pres.. Sir William Mackenzie; V.-P.,
V.104, p.74,664.
Common
£dw.
Assn.,
Boston; Mgr., Claude C. Curtis.—V. 100. p. 1436; V. 102. p. 1718. V. 105.
1918
OFFICERS.—Pres., W. C. Hawkins; V.-P., F. W. Teele; Sec. & Treas.,
L. C. Haskell; Mgr., J. B. Woodyott.—V. 101, p. 924, V. 103, p. 1668;
CAPE
Surplus.
$63,623
57.449
Interest.
$64,367
63,146
$127,991
ROAD.—Cape Breton Electric Co., 12.9 miles; Sydney & Glace Bay. 19
miles; total, 31.9 miles.
Gauge, 4 ft. 8)4 in.
24 passenger and 9 othtr
Power stations have 1,800 k.w. capacity.
Bank of Scotland. London, Eng.
1901
5 J-D
849,000 Dec
Quebec-Jacques Cartler Pow f
1st ref $1,000,000 ($1,000) •{Trust Co. of America,
g Int. in N. Y
c*Unt. at Royal Bank of
been
EARNINGS.—For 12 months ending Dec. 31;
Year—
Gross.
Net (.aft. Tax).
cars.
Default Charged.—See V. 106, p. 2560.
$1,000
141
RAILWAYS
Entire stock is owned by Toronto Ry.
$2,000,000 directly and $1,000,000
a subsidiary
company.
Toronto Power Co. owns all the
through
_
$4,000,000 stock of the Toronto Elec.
Light Co. and $2,993,900 of the $3,006,100 common stock. $2,990,600 of
the $2,993,900 pref. stock and $5,014,000 1st M. 5% bonds of the Electrical
Development Co.
/
The franchise of the Toronto Elec. Lt. Co., dated Nov. 13 1889, gives
the city the option of purchasing the property on Nov. 13 1919 on a basis
to befixed by arbitration, failing agreement as to price, on one vear s notice.
Option having not been exercised in 1919, city has no further rights of pur¬
chase for 20 years.
The Electrical Development Co.'s franchise extends to
1953, with privilege of renewal.
. _
In June 1916 tbe Toronto Elec. Lt. Co. issued $1,000,000 3-year 1st M.
5% gold bonds to retire a like amount of 4)4 % debentures due July 1 1910.
V. 102. p. 2347.
,
Date.
STOCK AND BONDS—
Stock$3.000.000
1911
Tor Power Co cons deb stock
British
$25,000,000 guar p & I by
Interest.
_
_
Outstanding.
See text
.
Maturity.
4^4 "M-N 14.665.773
1941
Empire Trust Co., Ltd., London.
Trustee.
Callable at 105.
1914.
5 g J-J '
4.100.000 July 1 1924
000($100, $500 & S1.000)c* Int. in N. Y., Nat. Tr. Co.. Ltd.. Tor., trua.
1903
5
9,547,000 Mar 1 1933
Elec Devel Co $10,000,000
1st mtge ($500) g
c* Int. at Can. Bk.of Com.. Tor., N.Y.&Lon.
5 g J-J
1.000.000 July 11919
Toronto Elec Lt 1st M $1,-/ 1916
& £_____
bds $4,250,-
Toronto Ry Co $
Tor Pow
Co
gu
geld ($1,000).I-C*'\Interest payable in N. Y. and Toronto
Power Co. bonds of 1914 are guaranteed .unconditionally,
by Toronto Ry. Co.
They are callable at 100
interest on any interest date on 3 months' notice.
Electrical Develop-
000.000
Toronto
principal
and
'
and interest,
sinking funds which began in 1911 of $1 per year for
V. 88. p. 131b.
Of the Tor. Pow. Co. cons. deb.
$11,000,000 are reserved to retire like amount of Elec. Devel. and
Tor. Elec. Lt. bonds, and remainder Is for extens. and lmpts. at 80% of
cost.
Sink, fund began In 1913, calculated to retire whole of stock at ma¬
turity at 105.
Int. is payable in London and Toronto. See V. 93, p. 1328.
The Toronto Elec. Lt. oonds are red. as a whole or in part, but not less than
ment Oo. bonds have
each electrical to. p. sold.
stock
$500,000, at 101 and int. on any int. date
'
Year—
after July 1 1917. V. 102, p. 2347.
Co. for calendar years:
1917.
1916.
Lt.
1918.
Toronto Elec.
RESULTS.—Of
1915.
25,844
26,531
5,931,137 51,39o,537
PROPERTY.—Leases the Electrical Devel. Co.'s hydro-electric power
plant at Niagara Falls, Ont., with a total generating capacity of 140,000 h.p.
of which 15,000 h.p. held in reserve, and two transmission lines (4 circuits)
Into Toronto on private right of way.
The Tor. Elec. Lt. Co. owns a
26,616
27,510
73,935,304 71,592,832
Number of customers
Kilowatt hours sold..-.
auxiliary power plant of 17,500
423; V. 99. p. 1216; V. 102, p. 2082;
R*
steam
p.
V. 103. p. 1987.
LIGHT & POWER CO., LTD.
BRAZILIAN TRACTION.
ORGANIZATION.—Incorp. July 12 1912 In Canada with $120,000,000
and has acquired through exchange of Its stock for stock
of the newly acquired companies (on basis shown in V. 95, p. 175) the Rio
de Janeiro Tramway Light & Power Co., Sao Paulo Tramway Light &
Power Oo. and Sao Paulo Elec. Co.. and through the first-named company
controls entire capital stock of Rio de Janeiro & Sao Paulo Teleobone Co.
In Nov. 1919 the co. brought out $7,500,000 6% sec. 3-year notes to
refund a like amount of similar notes due at that time. V.109, p.1366,1461.
($100) auth. stock
$106,515,500
See text
19,000,000 Oct 19, 1 H
Secured
notes
$10,000,000) 1919
6 g M-N 1
7,500,000 Nov 1 i922
gold ($1,000)—------c.tf/Int. at Cent. Un. Tr. Co., N. Y., Trustee.
Stock.—The pref. stock Is con v. into common stock at any time ou basis
of 1 1-5 shares pref. stock for 1 share of common.
V. 96, p. 1421. Pref.
Q-M
6 Q-J
Ordinary. $110.000.000
Pref6% cum$10,000.000($100)
listed
listed
on
V. 97. p.
London
on
exchanges.
Common stock
Belfast and Brussels stock exchanges.
303.
Secured by £1,028,000 ($5,002,967)
Lt. & Pow. Co. Gen. M. 5% bonds due 1963;
Sao Paulo Tram., Lt. & Pow. Co. Gen. M. 5%
bonds due 1963, and $7,500,000 Rio de Janeiro & Sao Paulo Telephone Oc
1st M. Coll. Trust 6% bonds due 1946.
Additional notes may be issued
only against pledge of 133 1-3% of the par value of additional Rio de
Janeiro & Sao Paulo Telephone Co. bonds.
Call, all of in part on 30 days'
notice, at 102 and int. during the first year after issue, at 101 and int.
during the second year, and at 100)4 and int. during the third year.
Int.
also payable in Toronto.
de
Janeiro Tram.,
£514,000
($2,501,483)
Dividends.—6% is being paid on the pref. stock.
First div. on com.—
114%—paid Nov. 15 1912.
In 1913 and 1914, 6%.
In 1915 and 1916
4%.
In 1917, March. 1%.
None since.
REPORT.—For periods ending Dec.
Tot
Period Covered—
31 (1918 report in V.109, p. 1077):
Charges
Inc.
Yr. end. D*»e. 31 '18-S6,252,463 $832,791
937.180
344,831
218,074
6.203,698
Yr.end. Dec. 31 *16
6,019,473
Yr. end. Dec. 31'15- 5.612,876
*6%.
a 1%.
c 4%.
Yr. end. Dec.31 *17-
-
Pref. Divs. Com. Divs.
Surplus.
*$600,000
.$4819,672
*600.000
al,064,136 3602,382
*600,000
c4,251,488 823,154
*600,000
c4,249,380 545,422
Net—
—
-
Note.—'The unfavorable showing in recent years is due to the decline
milreis which fell from about 16 pence for sight
the outbreak of the war to an average of about
12)4 pence in 1915,12 pence in 1916,12)4 penee in 1917 and 13 pence in 18.
OFFICERS.—Chairman of Board,: Sir William Mackenzie: Pres., Sir
Alexander Mackenzie; V.-P., Robt, OJ Brown; Sec., J. M. Smith, Toronto.
—V. 107, p. 799; V. 109, p. 1077, 1366, 1461.
Rio de Janeiro Tramway. Light & Power Co., Ltd.
ORGANIZATION.—Incorporated under the laws of Canada in June
1904.
Purchased the Rio de Janeiro Gas Co. and three street railway prop¬
erties (the Villa Isabel Tramway Co., the Sao Christovao Tramway Co. and
the Carris Urbanos Tramway Co.)
Owns or controls entire $5,000,000
capital stock of Jilo de Janeiro & Sao Paulo Telephone Co. (incorp. in Can¬
ada in 1916 to carry out the plan, delayed by the war, of acquiring, consoli¬
dating and developing the telephone enterprises). The latter co. has an
auth. issue of $7,600,000 6% 30^year coll. trust bonds (pledged as collateral
to the 3-year notes of the Braz. Trac., Lt. & P. Co., Ltd.), and has acquired
all the shares of the Brazilianische Electricitats-Gesellschaft and the prop¬
erties and business of the Interurban Telephone Co. of Brazil, Companhia de Telephones Interestadoaes, Companhia Telephonica do Estado de Sao Paulo, and Companhia Rede Telephonica Bragantina, the
Tramway Light & Power Co.; also owns two water-power plants, gas
plant and electric-light and
power
plant.
In 1909 purchased con¬
trol
of
the
Ferro
Carril do
Jardim
Botanico
(V. 88, p. 883)
and
consolidated
It
with the Tramway
Light & Power Co. under
an
operating contract.
Has also acquired the Jacarepagua tramway lines
The gas and electric-light franchise expires 1945, gas franchise
(11 miles).
being exclusive until 1945 and electric light until 1915, with a monopoly for
public lighting until 1945.
Telephone franchise in Rio de Janeiro expires
1930 and is exclusive; the other telephone franchises are perpetual or for
long periods and are mainly exclusive. See V. 83, p. 214. Rio de Janeiro
Tramway concessions were extended in 1907 until 1970 and give exclusive
privileges until 1940 In very large area of city. Franchises for distribution of
electric energy for lighting and power service were also extended to 1990.
Concession to develop power is perpetual. Both stock and bonds are listed
on the London, Brussels and Toronto stock exchanges.
V. 93, p. 528; V. 86,
p. 1044; V. 88, p. 507.
In April 1909 2d M. bonds were listed on London
Stock Exchange. V. 88, p. 883. See description of property in V. 87, p. 97.
On Dec. 8 1911 stockholders voted to increase auth. stock from $40,000,000
to $50,000,000, of which $5,000,000 was offered to stockholders—1 new
for 8 old (V. 93, p. 1669, 1463).
issue of £2.000.000 5% Gen. M. bonds
to be used as collateral security for raising funds for capital requirements
when necessary.
£1,028,000 have been deposited as security for the Braillian Trac., Light & Power Co. 3-year notes.
On Jan. 2 1914 created an auth.
Date.
STOCK AND BONDS—
Interest.
Outstanding.
Maturity.
$45,000,000 &Nov.'171)* %
See text
1963
25,000.000
Jan. 11935
Q-F
6%
First
mortgage
$25,000.000f 1905
5 g J-J
($100, $500 and $1,000)(Int. payable In Toronto, N. Y. & London.
"gold
(National Tr. Co., Ltd., Toronto, trustee.
Second mortgage bonds (seef 1908 5 A-0
£5.176,622 April
1958
text) (£100 and fr. 500)--(Nat.
Tr.
Co,, Ltd., Toronto, trustee.
Stock $50,000,000
General mortgage
($100)---£2,000,000-
Int. at Can. Bank of Com.. London, and
In Toronto, Canada, Paris and Brussels.
I
1st
Botanico
mortgage
(£100)
i
Tramway | 1911 5 J-J
£1,400,000 July 11951
£1,400,000-1 Nat. Trust Co., Ltd., Toronto, Can., trustee
c
Int. at offices of Can. Bank of Commerce
I
In London. New York and Toronto.
b Less British Income tax.
fund on 1st M. of 1% per ann. of bonds out began Id
3 inos.' notice as a whole or
drawings which began the year end¬
ing Apr. 1 1918; £137,478 retired by sinking fund. Auth. issue of 2d M.
bonds is limited, but bonds may be Issued to par value of bonds of 3 sub¬
sidiary cos. out Apr. 1 1908 upon deposit of said securities with trustee.
V. 92, p. 596, 726.
Jardim Botanico 1st M. bonds are red. at 102)4 and
Int. on 3 mos.' notice.
Sinking fund begins in 1912.
Bonds are listed on
London Stock Exchange.
V. 93, p. 1786.
Rio de Janeiro Tram., Light
& Power Co. Ltd., undertakes to put aside semi-annually a sum sufficient
to meet int. and sk. fd. on Jardim Botanico bonds; V. 93, p. 528.
Bonds.—A sinking
1910.
The 2d M. debs, are subject to call on
any part
at 105; also subject to skg. fd.
Dividends.—First
div., 1%.
paid Nov.
and to and lncl. Nov. 1917, 5%
EARNINGS.—Earnings
are
Light & Power Co. statement.
1909; In
1910, 4)4%.
In
1911
per annum
now
Included
In
the
Brazilian
Traction
Passengers
OFFICERS.—Chairman of Bd., Sir William
Mackenzie; Pres., Sir Alex¬
Smith; Gen. Mgr., C. A. Sylvester.
Main
office, 36 Toronto St., Toronto.—V. 94, p. 1247, 1764; V. 96. p. 1298.
ander Mackenzie; Sec., J. M.
The Sao Paulo Tramway. Light & Power Co., Ltd.
(2)
ORGANIZATION.—Incorporated in the Province of Ontario, Canada,
of electric roads and electric-lighting
and power business in Sao Paulo, Brazil.
Stock and bonds were listed on
London Stock Exchange in July 1905.
V. 81, p. 614.
In Nov. 1906
authorized stock was increased from $7,500,000 to $8,500,000 (V. 83, p.
1230), and stockholders were offered the $1,000,000 new stock at par.
See V. 83, p. 412.
In 1907 purchased Santa Ana Ry.. a narrow-gauge
mule line, which has been electrified.
Company has secured an exclusive
30-year concession for distribution of light and power in municipality
of Sao Bernardo.
On Dec. 27 1907 shareholders
increased authorized
stock from $8,500,000 to $10,000,000.
V. 86, p. 53.
On Jan. 2 1914 created an auth. Issue of £1,000.000 5% Gen. M. bonds
to be used as collateral security for raising funds for capital requirements
in 1899 and owns an extensive system
when
£514,000 have been deposited
necessary.
as
security for the Brazilian
Trac., Light 8c Power Co. 3-year notes.
STOCK AND BONDS—
Date.
Interest.
Stock $10,000,000 ($100)
Perpetual
consol
Q-F
debenture/
Outstanding.
Maturity.
$10,000,000
ftNov. *17, 2)4
M-S 2
stock Issued Feb 1911.(interest payable
General Mortgage £1,000,000
5%
First
mortgage
$6,000,0001 1900 5 g J-D
6 Less
British
Perpetual
£821,917
in London and Toronto.
See text
1963
$6,000,000 June 1 1929
c*(National Trust Co., Ltd., Toronto, trustee.
gold ($500)
Income
tax.
Stock.—Perpetual deb. stock Is redeem, at 105 on 0 mos.* notice. Trustees
are British Empire Tr. Co., Ltd., London, and Nat. Tr. Co., Ltd., Toronto.
Stock Is listed on London Stock Exchange.
V. 94, p. 1250.
Bonds.—Interest Is payable at the Canadian Bank of Commerce In Lon¬
don, England, and Nat. Trust Co., Ltd., Toronto, Ont.
No sinking fund
are not subject to call.
and bonds
Dividends.—In 1902,3**%; In 1903, 5**%; in 1904. 7)4%;in 1906.8%;
1906, 8%; In 1907, 8#%; in 1908, 9)*%; In 1909 to 1911 Incl., 10%; In
1912, Jan., 2)4%; April, 2)4%; July, 2)4%: Oct., paid 5-6% for month
of July, 1912, In accordance with plan of
amalgamation; Nov., 2*4%.
In 1913 and since to and incl. Nov. 1917, 10% per annum.
In
EARNINGS.—Included
In
the
Brazilian
Traction statement.
ROAD.—Operates 142.85 m. of track, all in city of Sao Paulo; 352 pas¬
senger and 95 freight cars.
Passengers carried during 1918, 63.429.063,
against 58,619,758 in 1917.
On Dec. 31
1918 supplied 424.390 incan¬
descent lamps and 973 public arc lamps and 48,064 h. p. in motors, and had
42.407 light and power consumers.
OFFICERS.—Chairman
of
Pres., Sir
W. G. McV. 95. p. 681.
Board, Sir William Mackenzie;
Alexander Mackenzie; Sec., J. M. Smith, all of Toronto; Mgr.,
Connel, Sao Paulo.—V. 94, p. 827, 1187, 1248, 1250, 1764;
(8)
In the exchange value of
on London prior to
Jardim
light and power consumers.
against 207,925,034 in 1917.
Sao Paulo Electric Co., Ltd.
ORGANIZATION,
92,200,309
47,072,968
bills
(1)
incandescent lamps*
On Dec. 31 1918 had
Gas salts in 1918, 40,023,000 cubic metres.
1917
1918
1919
113,074 j)00 101,894,000
58,423,000
52,131,535
Dec. 31 1918 to City of
9,235 arc lamps, 932,549
47,642 telephones in service.
On Dec. 31 1918 had 60,977
carried in 1918. 220,037,370.
stations, 84.000 b.p.
Company was supplying on
Rio de Janeiro and vicinity 109,410 h.p. in motors,
(mllrels).—Years ending Dec. 31:
Latest Earnings
Gross
PLANT.—Operates 243 34 miles of track in business and
adjoining districts, incl. scenic road, 2.45 m.,
owning a hotel on Corcovado Mountain.
Has 989 passenger, and 201
freight and 6 electric auto-busses and 3 locomotives.
Capacity of power
Toronto stock
and
Toronto, Montreal, London,
Notes.-—Direct obligation of the co.
Rio
ROAD AND
residential section of city and
Maturity
Outstanding.
Interest.
Date.
STOCK AND NOTES—
stock
[Vol. 110.
ELECTRIC RAILWAYS
143
&c.—Incorp. In 1910.
Stock Issued, $5,000,000,
and franchises for the utilization and sale of
Has acquired water powers
electric power through the State of Sao Paulo.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Stock$10,000,000
$5,000,000
First mtge £2,000,000 (£500J 1912
5 J-J
£2,000,000 Jan
1 1902
£100, £20)
(National Trust Co.. Ltd.. of Toronto, trust.
Bonds.—Red. by a sinking fund beginning in 1922, In annual drawings at
par, or may be red. at 103 at any time on 6 months' notice, or at par on
voluntary liquidation or amalgamation with another company.
The Bra¬
zilian Trac., L. & P. Co. agrees to set aside s.-a. out of the gross earnings of
the Sao Paulo Elec. Co. a sum sufficient to meet the int. and sinking fund,
and in case the earnings should be insufficient, to meet the same from its own
revenues.
Int. payable in London, N. Y., Toronto, at Canadian Bank
of Commerce or its agencies.
Listed on London Stock Exchange.
V. 95.
1043; V. 96. p. 65.
PROPERTY.—Hydro-electric plant of 30,000 k. w. with an ultimate
capacity of 50,000 k. w.t was completed and placed in operation during
1914.
Has a contract to supply the Sao Paulo Tram., Light & Power Co.
with 20.000 h.p. and supplies electric light and power In Sorocaba^ 53
miles from Sao Paulo, ana to the neighboring towns of Sao Roque, Una,
Rodovalho and Mayrink.
Also operates 3)4 miles of track i n Sorocaba;
p.
6
cars.
_
WINNIPEG, MANITOBA.
WINNIPEG
ELECTRIC
RY.
ORGANIZATION.—Incorporated In Manitoba in 1904 and Is a consoli¬
dation of the Winnipeg Electric St. Ry. and the Winnipeg General Power
Co.
Controls Suburban Rapid Transit Co. and Winnipeg Selkirk & Lake
Winnipeg Ry., and guarantees bonds of those companies, prin. and int.
V. 86, p. 1346; V. 101, p. 1466.
Operates the entire street railway and gas
business in Winnipeg, the street railway in St. Boniface, and does the largest
part of the electric light and power business in those cities and vicinity.
Franchises either perpetual or for long terms and street railway franchise is
exclusive In Winnipeg until 1927 and in St. Boniface until 1943.
City of
Winnipeg may purchase the property in 1927 upon 6 mos.' notice at its
physical valuation (incl. cost of paving done by co.), to be determined by
arbitration; after 1927 city may exercise right to purchase at the end of each
succeeding 5-year period on 1 year's notice.
In Oct. 1913 Judge Robson, the P. U. Commissioner at Winnipeg, denied
the application of the municipal power plant of Winnipeg to sell current
In St. Boniface without the consent of the latter city.
It was held that
the Winnipeg
Electric Ry. supplied St. Boniface with current satisfactor¬
ily.
V. 97. p. 1288.
Jitney Competition Abolished.—In April 1918 the city authorities voted
to abolish jitney service, thus removing this form of competition against
the
co.
Effective Oct. 4 1919
was
auth. by the P.
6 cents cash, or 9 tickets for 50 cents.
U. Comm. to increase fares to
Workmen's tickets are to be sold at
5 for 25 cents and school children's tickets at 7 for 25 cents.
V. 109.
n.
1462.
Valuation.—See V.
109. p. 2264; V. 110, p. 1417.
In April
1920 it was reported that the stockholders had been asked^to
authorize an Issue of $3,000,000 7% cum. non-participating pref. stock
to retire a like amount of floating indebtedness.
V. 110, p. 1527
.
STOCK AND BONDS—
Stock$10.000,000 ($100)
Perpetual debenture stock--. '
First
refunding M $5,000,000
gold sink fund ($1,000) __c*
$750,000 ($1,000) red
at 102)4 on any int. day
on 30 days' notice.
c
Notes
Win El
000
Notes
Dale.
Interest.
Outstanding.
Maturity.
Q-J
$9,000,000
See text
4)4 A-O 2
£900.000
See text
British Empire Trust Co., London, Trustee.
1905
5 g J-J
$4,000,000 Jan. 2 1935
Int. at Bank of Montreal, Montreal & N. Y.
1917
6 g J-J 15
750.000 Jan. 15 1921
Central Trust Co., N. Y., trustee.
Int. at
Bank of Montreal, in N. Y. or Toronto &
in London, Eng., In sterling or par of exch.
1898
5 g J-J
1,000.000 Jan. 1 1927
St Ry mtge $1,000.($500)
..Interest at Bank of Montreal, Montreal.
payable Dec. 31 1919-2,560,000
♦Payable to bankers, partly secured by underlying bonds.
Stock.—The debenture stock is repayable at no fixed date, but is subject
to call at 105 and Interest. V. 88, p. 620.
Listed on London Stock Ex¬
change.
V. 91. p. 1448.
Bonds.—Of the $5,000,000 1st refund, bonds, $1,000,000 are reserved to
retire the first 5s.
The Royal Trust Co., Montreal, is trustee.
The new
bonds are not subject to call, but 1 )4 % of bonds outstanding is payable to a
sinking fund from 1915 to 1924, incl., and 2% from 1925 to 1934, incl.
See
V. 79, p. 2698.
$289,000 Win. El. St. Ry. 1st 5s are in sinking fund. The
notes are secured
by deposit of £400,000 (approximately $1,950,000)
Winnipeg Elec. Ry. 4)4% perpetual consol. deb. stock.
ELECTRIC
Ape., 1920.]
2 4% quarterly from April 1908 to April 1911.
In
increased to 3% quar.. which amount was paid to and Inch
Jan. 1915; in April, July and Oct. 1915, 24% each.
In 1916. Jan., 2%
None paid since.
Dividends.—Paid
July rate
was
REPORT.—For years ending Dec.
Year-—
Gross.
31:
Net.
143
RAILWAYS
calendar
EARNINGS.—For
34,323,118
$1,323,623 $1,286,818 sur.$36,805
3,633,655
1,221,428
1,192,694 sur. 28,734
3,386.886
1,243.374
1.150,795 sur. 92.579
Passengers carried in 1919, 58,729,317, against 56.348,716 in 1918.
gross,
net (def.);
$146,230; net
$162,526;
track from Winnipeg to Headlngly on
and beyond the City Park on the south
ROAD.—Embraces 21.247 miles of
the north side of Assiniboine River
Balance.
Charges.
1919,
year
$4,976; charges, $33,911; deficit, $38,887.
In 1918, gross,
(def.), $1,945; charges, $32,344; deficit, $34,288.
side of river.
V. 86, p. 1345.
1919
1918
1917
ROAD.—Operates 174.452 miles of track, including Suburban Rapid
Transit Co., and Winnipeg Selkirk & Lake Winnipeg Ry.
Has 324 motor
cars and
12 trailers, 21 misc. cars.
Completed in 1907 a 30,000 h. p.
water-power plant.
Installed a 12,000 h.p. steam turbine auxiliary plant
in 1911, which gives the company an auxiliary steam plant capacity of
20,000
h.p.
Sir
OFFICERS.—Pres.,
Augustus
Nanton, Winnipeg;
V.-P. & Gen.
Mgr., A. W. McLimont; Sec., F. Morton Morse, Winnipeg;
Mackenzie.
V. 108, p. 78o, 880; V. 109, p. 1462. 2264; V.
Treas., J. S.
110, p. 1417,
1527.
Winnipeg Selkirk & Lake
Winnipeg Ry.
by
Act
(1) Suburban Rapid
Transit Co.
Winnipeg Electric Ry.
stock.
STOCK AND BONDS—
$100,000
Date.
Interest.
-
($1,000) g-C*7 1908
5 F-A
Guaranteed ..principal and/ Royal Trust Co.,
interest, by Winnipeg Elec- Interest at Bank
Outstanding.
See text
Maturity.
$500,000 Jan. 311938
Montreal, trustee.
of Montreal, Montreal,
trie Ry.
Toronto, New York or London, England.
Bonds.—Additional bonds may be Issued at rate of not exceeding $20,000
per mile additional road built.
First mortgage
Manitoba
Legislature
with
Franchises run to 1939 and 1942.
with Winnipeg Elec. Ry. running to May 31 1925.
for municipal purposes and
general light and power business.
Has contract for power
Also has contracts with Selkirk to supply power
with Stonewall to do
a
g ($100,
Prior lien
Interest.
Date.
BONDS—
Gen M&ref bonds
$1,400,000/ 1915
$500, $1,000)_c»&r\National
Outstanding.
Maturity.
5J-J
$1,000,000 July 1 1925
Trust Co., Ltd., Toronto, trustee.
400,000
5%
Bonds.-—Of the bonds reported
ORGANIZATION.—Organized in 1902 in Manitoba.
Charter gives
right to operate the telephone and telegraph lines and to dispose
of electric light, heat and power.
Franchise, 35 years from 1902 and is
exclusive.
Winnipeg Electric Ry. controls road through ownership of
of
S)wer to dothrough ownersnip of $490,000 a lighting and power business.
a steam or electric railway and of its $500,000 stock by the
ontrolled
$335,000 prior lien bonds have been
company
Stock
(2)
ORGANIZATION.—Incorp.
1938
exchanged for Gen. M. 9c Ref. bonds.
outstanding, $746,800 are pledged as col¬
lateral for loans to the Winnipeg Electric Ry.
Remaining
M. & Ref. bonds are reserved to retire the underlying issue.
$400,000 Gen.
Guar., p. 8c i.t
(end.) by the Winnipeg Elec. Ry.
Sink, fund of 2% of bonds outstanding
plus int. on bonds in fund will retire 25% of issue by maturity. Int. payable
at Bank of Montreal, Winnipeg, Toronto, Montreal, New York and (In
sterling at par of exchange) London. Red., all or part, at 103 and interest.
EARNINGS.—For calendar
year
1919, gross,
gross,
charges, $46,124; surplus, $22,372; 1918,
charges, $42,962; surplus, $15,063.
$206,102; net, $68,496;
$178,787; net, $58,025;
ROAD.—Operates a line from Winnipeg on west
side of Red River to
Middle-
Selkirk, 22H miles, witn a branch on private right of way from
church to Stonewall, 17H miles (placed in operation Jan. 1 1915),
V. 101, p. 924, 1466; V. 106, p.
2012.
35 cars.
ELECTRIC
144
[VOL. 110.1
RAILWAYS
COMPANIES.
NEW
information can be found concern¬
These are chiefly either newly
organized companies the affairs of which have not yet advanced sufficiently far to warrant the presentation of a regular
statement regarding them, or else companies from which it has not been found possible to secure full returns.
The
ing
following furnishes
reference to the volume and page of the "Chronicle" where
a
number of companies not represented in this issue of the "Electric Railway Section."
a
Aberdeen (So. Dak.)
RR.
Lincoln
V. 102. p. 152.
Abilene (Tex.) Street Ry.
V. 105,
Alton fit Jacksonville Ry.
V. 105,
Alton Jacksonv. fit Peoria Ry.
Alton & Northern RR.
Altoona
V. 97.
Atlanta fit Macon Ry.
V. 95,
1114.
p.
885, 1625; V. 103, p. 144.
V. 99,
Ry.
Bahla Tramway, Light fit Power Co.
Traction Co.
Grove (Ind.)
V. 106,
Berwick 6c Nescopeck Street Ry.
Big Pour Electric Ry.
V. 98.
V. 98.
(Cal.).
Boise (Idaho)
Ry.
V, 98.
Brantford (Ont.) Municipal
Bristol
Brunswick Terminal
V. 107,
fit Ry. Sec.
V.
Eastern
Camaguey (Cuba) Co., Ltd.
Carolina Traction Co,
105,
V.
V. 102,
V. 95,
(N. Y.) Traction Co.
Charlotte (N. C.)
Rapid Transit Co.
V. 110,
Chicago Pox Lake fit Lake Geneva RR.
105,
V. 95.
City Electric Co., Albuquerque, N. M.
V. 101,
p.
City fit Suburban St. Ry., Brunswick, Ga.
V. 101,
Cleveland
8c Ohio Central Electric Ry.
Cleveland (O.)
Rapid Tran. Ry.
V. 99
Cleveland fit Youngstown RR.
Columbia
8c
Montour
Columbus Kenton
6c
Ry.
Columbus Urbana 8c Western Ry.
Co.
V. 98,
Corpus Christi Railway fit Light Co.
V. 107,
Dallas Southwestern
p.
Traction
Delaware
Delta
V.
105,
V
Detroit Pontiac & Owosso Ry.
Dixon
(III.)
Dominion Traction
1419,
p.
98,
V
Co.
V. 101,
Y. 96, p. 359,
V. 98.
V. 97,
fit Corry Ry.
Erie 8c Central Pennsylvania Ry.
V. 97.
p.
V. 97
V. 90,
V. 108,
V. 102,
V
Gary fit Hobart Traction Co.
V. 98.
V. 103,
Goldsboro (N. C.) Traction Co.
V. 97. p. 237
Hocklng-Sunda.v Creek Traction.
665; V. 108, p. 78.
Indianapolis Chicago fit Meridian Ry.
Inter-State Public Serv. Co.
Ry.
93, p
Irwln-Herminie (Pa.) Trac. Co.
p.
589:
1420: V. 99. p. 608.
Kankakee (111.) Electric Ry.
V
95. p
fit
Traction
p.
V. 103, p. 939.
V. 95, p. 1208, 1333.
V. 98. p. 1157; V. 106, p. 1037.
V. 103, p. 1033; V. 104. p. 104.
Street
V. 92,
Ry.
V.
Co.
107,
1017.
V. 106,
Crystal Lake fit Home Electric Ry.
p.
1844.
V. 98,
p.
388.
Traction
Co.
of
(N. J.)
p.
p.
p.
Kan.
Ry., Winfield,
168.
182.
V. 107, p. 2478.
V. 96. p.
1425.
V. 101, p. 1372; V. 103, p. 1688.
97.
p.
1824: V. 102. p. 252.
Y. 107, p. 1386; V. 108. p. 1512, 2630
V. 99,
Traction Co..
Lakewood
214.
p.
2357; V. 110,
p.
Illinois Traction Co.
Traction Co.
Trans St. Mary's
V. 101,
1803, 2185; V. 107.
V. 109,
V. 105.
V
214.
V. 109, p. 2440; V. 110, p. 466.
Illinois.
Co., Alexandria, La.
(W.Va.) Trac. Co.
Shore (L. I.) Trac. Co.
p.
p.
Mich.
271, 1911; V. 106,
V.
104, p.
Seacoast Ry.
&
V.
p.
716.
1146.
106,
1345, 1462.
p.
V. 106,
p.
2345.
V. 106.
p.
Co.
100.
1598.
Twin
1745
Trinidad Electric Co., Ltd., Port of Spain, B. W. I.
Twin City Light fit Traction
'
95.
Falls
(Idaho)
Tyler City (Tex.;
Ry.
V.
Light & Ry.
Washington Electric Ry.
V. 99. p
681.
p.
V.
V. 96,
408; V.
p
p.
396.
1898.
443.
Lancaster fit Southern Street Ry.
V. 103, p. 320 006
Lewiston-CIarkston Transit Co.
V. 100. p. 1438.
ALima-Honeoye Electric Light fit RR.
V. 100. p. 2107; V. 101. p. 2145.
Lima-Honeoye Falls Light fit RR.
V. 99. p. 1832; V. 102, p. 522.
fit
1462.
1404.
555; V. 106, p. 1902.
Washington Spa Springs fit Gretta RR.
Waukegan Rockford
p.
97. p. 445.
p.
Washington, Westminster fit
V. 106,
V. 99, p. 1451. 1910; V. 105, p.
1578.
V. 102, p. 252.
Lake Erie Bowling Green fit Napoleon Elec. Ry.
2095.
105, p.
189; V. 107, p. 1482.
Y. 108, p. 1722.
Trenton
V. 81, p. 725; V. 107, p. 1004.
V. 96. p.285; V. 97.
V.
Ry.
p.
1102.
p.
Washington fit Great Falls Ry. & Power Co.
Lake Erie fit Northern Ry.
V. 101. p. 775.
2095; V. 106, p. 397, 1231.
p.
Kankakee Urbana Traction Co.
V. 99, p. 467; V. 105, p. 1104.
Lacombe fit Blindman Valley Elec. Ry.
V. 99, p. 1597; V. 104, p. 2235.
Lake Erie fit Youngstown Ry.
V. 106, p. 1901.
V. 101,
Titusville (Pa.)
V. 105.
560, 864. 953.
p.
1420, 1523; V. 106, p. 1231.
p.
V. 105,
Norwood
Tiffin Fostoria fit Eastern Ry.
299
p.
V. 91, p. 519; V. 95. p. 237
1690; V. 107, p. 1482.
p.
105,
V.
Sunbury fit Susquehanna Ry.
480
V. 98,
83,
Stockton Terminal fit Eastern RR.
1275; V. 109, p. 270.
Jamestown Westfield fit Northwestern RR.
Canton
Falls 5c Colvain St.
Springfield fit Central
V. 106, p. 1901; V. 110, p. 561, 1289.
V. 108.
V
Ry.
V. 94. p. 1120;
Ry.
Southwestern Interurban
p
680.
p.
Southern Traction Co. (Bowling Green, Ky.).
South
Light fit Power Co. (of Colo.).
V
(Mass.)
Shelburn
So. Morgantown
521. 728
p.
95.
Santiago (Cuba) Elec. Lt. & Trac. Co.
Southern Trac. fit Pow.
V. 97.
V. 95
V.
Diego fit Southeastern Ry.
Southern
578.
p
170: V. 97. p. 1427.
p.
1061; V. 104.
p.
Southern Illinois fit St. Louis Ry.
V. 105, p. 1309. 2272.
Independence Neodesha fit Tooeka Ry.
Electric
p.
V.97.
V. 95,
1193.
V. 67, p. 105; V. 107, p. 604, 1385.
Electric RR.
V. 102,
V. 107, p.
191; V. 107, p. 1385.
p.
Southern Oregon Traction Co., Medford, Ore.
1920.
p.
V. 106,
Southeastern Ohio Ry. (Zanesville. O.).
1344, 1900.
p.
1473, 1684.
River Ry.
Rappahannock
Ry.
Sioux City (la.)
V. 104, p. 1387.
Glendale (Cal.) fit Montrose Ry.
lola (Kan.)
268, 784.
p.
1773.
p.
Louis East Side Belt Line Terminal Ry.
Sharon
1701.
p.
fit
Sapulpa (Okla.) fit Interurban Ry.
1228; V. 98. p. 522. 911
V. 106,
V. 104,
Geary Street Park fit Ocean RR.
International Transit Co.
008
p.
1583.
p.
1625; V. 103,
p.
Gary & Southern Traction Co.
Intermountain Ry.,
2433.
V. 95. p. 820.
90. p
Frontier Electric Ry., Buffalo, N. Y.
Hornell (N. Y.) Traction Co.
p.
V. 97. p. 1822.
Fort Scott fit Nevada Lt.. Ht.. W. Sc P. Co.
Fort Wayne fit Northwestern Ry.
(Va.)
Shenandoah
Exeter Hampton fit Amesbury St. Ry.
Fresno Interurban Ry.
V. 99.
1583.
Fayettevllle (N. C.) Light fit Power Co.
V. 95.
V. 109. p. 2172; V. 110, p. 360.
(Nev.) Traction Co.
San Jose Terminal
p.
1105| V. 100. p. 500.
V. 96, p.
Pow. Co.
St. Tammany fit New Orleans Rys. fit Ferry Co.
San
1150, 1228; V. 97. p. 1733
p.
V. 105, p.
St. Paul Southern Electric Ry.
1832; V. 108,
p.
1014.
p.
V. 96. p. 1490; V. 106. p. 1901.
St. Louis, Lakewood fit Grant Park Electric Ry.
1751. 1917
p.
V. 101,
2185.
p.
2072; V. 104, p. 257.
p.
Richmond (Va.) fit Seven Pines Ry.
St.
695.
526.
p.
V. 101,
Public Service Co. of Oklahoma.
St. John (N. B.)
298.
p.
V. 100.
1583, 1732;
p.
V. 105,
St. Francois County Ry., Farmington, Mo.
1422; V. 109, p. 676.
V. 100,
V. 97,
V. 99, p. 49; V. 105, p. 1420.
,,,
Rockford (111.) City Traction.
104, p. 2451.
p.
V. 108, p. 2434.
Ry.
V. 95, p. 48.
Rochester-Corning-EImira Trac. Co.
1617.
212. 923.
p.
Electric Short Line Ry., Minneapolis.
Erie Southern Ry.
1522,
V. 101, p. 1370; V. 107,
(N. Y.)
V. 106, p. 1462.
V. 109, p. 73.
St. Louis fit Belleville Elec.
Ephrata fit Lebanon St. Ry.
Erie Cambridge Union
359.
1008.
Sc Ltg. Co., Ltd., Toronto.
Eastern Texas Traction
p.
864.
p.
fit Ohio Valley Elec.
V. 93, p. 1669;
Sacramento Valley
p.
Rock Falls Sc Southwestern Ry.
Electric Properties Corp.
2341; V. 105, p. 607. 2273
V. 104,
Railway.
Yan fit Lake Shore Ry.
Richmond
V. 98, p. 1844.
Demerara Electric Co., Ltd., Halifax.
494.
p.
Phoenixville Valley Forge fit Strafford Electric Ry.
Reno
1607
887; V. 110,
p.
Traction Securities Co.
Light & Traction Co.
p.
V. 95. p. 749
(Mass.) 8c Franklin St. Ry.
Sc Maryland
V. 95.
695; V. 109,
Co.
p.
Railway fit Light Securities Co. (Boston). V. 106, p. 500; V. 109, p. 1080.
V. 105, p. 1522; V, 108, p. 479.
Danville (Va.) Trac. 8c Power Co.
Dedham
1214.
1290.
p.
371; V. 110, p. 1290.
103,
Puebla Tramway, Lt. fit
V. 109, p. 1272.
Creston (la.) Wlnterset 8c Des Moines RR.
Dallas Northwestern Trac. Co.
p.
1366,2357; V. 110.
p.
103,
Pottstown fit Phoenixville Ry.
600.
p.
V. 105, p. 2185; V. 106, p. 390
V.
Portsmouth Electric Ry.
95. p. 297.
380; V. 99,
p.
V. 98. p. 1761.
V. 99, p. 1533; V.
Y.) Street Ry.
Portland St Oregon City Ry.
1370; V. 105,
V.
V. 95. p. 298.
1371. 1718.
p.
V. 109,
Plymouth (Mass.) & Sandwich St. Ry.
V. 103, p. 2340.
V. 101, p.
Toledo Traction
V. 101,
Piedmont Railway fit Electric.
V. 105, p. 1418; V. 106, p. 2450.
Electric
Cumberland Electric Ry.
Penn
V. 108, p. 2022.
1528, 1832. 1909.
p.
V. 95. p. 018
Light fit Power.
p.
Pelham Park Ry.
1972.
V. 101. p. 369, 448. 014.
Cleveland 8c Sharon Rapid Transit Co.
952.
p.
V. 109,
Parkersburg (W. Va.)
V. 99. p. 400.
RR.
370.
p.
V. 100, p. 309; V. 109, p. 982.
Co.
Orleans-Kenner Traction Co.
2171.
p.
229, 900. 1672: V. 102, p. 975.
Interurban
pi 1714.
101.
Northumberland County Traction Co.
Oklahoma Union
Cleveland Alliance fit Mahoning Valley Traction Co.
Cleveland
Alabama Traction
Ohio Service Co.
2071.
p.
V. 101,
V.
V. 104,
Branch Transit Co.
Ogdensburg (N.
1083.
p.
82.
V. 109,
2011.
,
V. 104, p. 1489; V. 106. p. 86.
Norwood Canton fit Sharon St. Ry.
>
V. 95.
p.
p.
1344
Norton Taunton fit Attleb. St. Ry.
1402.
p.
V. 107,
Clarksville (Tenn.) 8c Dunbar Cave Ry.
1522, 2093.
p.
1414.
p.
Chillicothe & Camp Sherman Elec. Ry.
V. 100.
North
V. 108, p. 77.
Cheboygan. Mich., Electric Light fit Power Co.
Cleburne Traction Co.
228.
p.
New York Westchester fit Connecticut Traction Co.
144.
p.
235.
p.
p.
V. 106,
Isle Traction,
North
V. 92. p. 955; V.
004; V. 102, p. 437.
p.
New York fit North Jersey Rapid Transit Co.
V. 106, p. 394.
Centre fit Clearfield St. Ry., Philipsburg, Pa.
V. 99,
V. 106, p. 1797.
(N. Y.).
New Orleans fit Grand
290.
p.
152; V. 103,
p.
V. 101. p. 449.
V. 106, p. 86.
Electric St. Ry.
Ry.
389.
197.
p.
& Iowa City Ry.
Marion
&
1229. 1489
p.
886; V. 104, p. 1045.
p.
V. 100.
Ry.
New Brunswick Power Co.
V. 109, p. 774.
105, p. 908.
RR.
(Rock Hill, S. C.).
Cassville & Western Ry.
Catskill
V.
Northern
&
V. 102,
Light Co.
Elec.
(O.)
V. 96.
Traction.
Perry
V. 99,
Ry.
(Sask.)
Muscatine (la.)
Newark
V. 100, p. 644; V. 106, p. 1796.
(Idaho) Traction Co.
California
Central
Mount Vernon
1836; V. 108. p. 267, 2432.
p.
V. 104, p. 559.
1623; V. 99, p. 891.
p.
V. 103, p. 938, 1592. 2078; V. 105. p.
Mountain Lake Electric RR.
105, p. 605.
Bryan (Tex.) & Central Texas Interurban Ry.
Caldwell
fit
Fe
Montgomery Transit fit
999; V. 106, p. 2449.
p.
V. 103, p. 00;
British Columbia Electric Ry.
Santa
V. 94.
Morgantown fit Wheeling Ry.
V. 98,
V. 99, p. 120.
Light fit Trac. Co.
Monterey (Mex.) Ry., Light fit Power.
V. 104. p. 2235.
154.
p.
Norfolk Street Ry.
8c
(Mo.)
Moose Jaw
Rys.
Marinette
Mexico Tramways Co.
Minnesota
2187.
p.
V, 103, p. 493 . 844.
Minneapolis Anoka fit Cayuna Range RR.
701.
p.
V. 109, p. 72.
Eastern RR.
Boston &
fit
1999; V. 107, p. 1101.
p.
V. 97. p. 443.
Milwaukee Western Electric Ry.
188.
p.
1705.
p.
V. 107,
Traction Co.
1935; V. 110, p. 76.
p.
Billings (Mont.) Railway. Light & Power Co.
Black River (N. Y.)
Mexico
1897; V. 104, p. 102.
p.
V. 108,
V. 105,
fit Concord Interurban Ry.
Mexican Light Sc Power. Ltd.
V. 97,
Barcelona Trac., Lt. & Pow. Co., Ltd.
Beech
Menominee
V. 97, p. 299.
Electric RR.
(O.)
Meriden Middletown fit Guilford (Conn.) Electric Ry.
118; V. 103, p. 319.
p.
296. 618.
p.
Minster
fit
Medfleld fit Medway Street Ry.
p.
V. 102,
(Electric)
V. 101, p. 615.
Los Angeles fit San Diego Beach Ry.
Martinez (Cal.)
V. 98, p. 1691.
Street Ry.
Carolina
1154, 1091; V. 99. p. 1831-
p.
V. 95, p. 111. 1123.
Sc Johnstown RR.
(Can.) fit Port Stanley Ry.
Lorarnie
1800, 2454; V. 109, p. 1271.
p.
V. 98,
(Pa.) Northern RR.
Ardmore (Okla.)
Atlanta fit
London
V. 103, p. 238.
Algiers Ry. fit Lighting Co., New Orleans, La.
V. 99, p. 407. 1748.
fit Light Co.
(III.) Ry.
Little Falls (N. Y.)
1271.1
2182; V. 109. p. 774,
p.
V. 96, p. 489.
V. 101. p. 1808.
Gettysburg RR.
Elgin Trac. Co.
V.
V. 95,
p.
177.
100. p. 2012.
Waverly Sayre fit Athens Traction Co.
V. 109, p. 372.
Waycross (Ga.) Street fit Suburban Ry.
V. 104, p. 2453; V. 105, p.1803.
Wichita-Walnut Valley (Kan.)
Wiliapa Electric Co.
Wisconsin
Interurban
Interurb. Ry.
V. 106, p. 823.
V. 97, p. 143-5.
Ry.
V. 105, p. 182, 717.
ape., 1920.]
INDEX TO RAILWAYS
GENERAL
INDEX.
Page.
k berdeen
(So. Dak.)
**bilene (Texas)
Adamstown
A
RR
144
Street Ry
Mobnsvllle
Electric
Ry.—See
118
92
—
Akron Wadsworth & Western Ry.—See North.
Ohio Tract. A Light Co
Industrial"
A
P.—See
47
"Railway
Bridgeton A Milv. Tr.—See Am. Rys. Co
99
Brldgewater Whitman A Rockland St. Ry.—
Rys. Co
Tramway, Light A Power Co.__
ahia
Bakersfield
&
Kern
Elec.
Ry.—See
121
144
Section.
46
Baltimore & Annapolis Short Line—See
Mary¬
land Electric Rys.
7
8
Baltimore
&
Northern
Electric
Bristol 8c Plainvlile Tramway (Conn.)
Ry.—See
tion Co.
Albany Southern RR
3
Bait. Sparrows Point & Chesapeake Ry
Albia Light A Railway...
3
Baltimore Term. Co.—See Wash. Bait. & Ann.134
Baltimore Traction—See United Rys. A Elec.
7
Brockton
Baltimore
Brockton
Algiers Ry. & Ltg. Co.. New Orleans
____144
Allegheny A Bellevue—See Fed. St. A PI. V__ 109
Allegheny Belle. A Perrysville Ry
109
Allegheny Co. Lt. Co.—See Duquesne Lt. Co. 110
Allegheny St.—See Federal St. A Pleas. Val__109
1
Allegheny Traction
110
Allegheny Valley St Ry.—See West Penn.Rys.Ill
Allentown Bridge Co.—See Leh. Val. Tran.Co.
4
Allen town El. L. & P.—See Leh. Val. Tran
4
Allentown
A
Kutztown.—See
Allentown
&
United Rys. 6c Elec. Co
& Washington
7
8
Transit—See Wash¬
ington 6c Maryland Ry
133
Bamberger Electric RR
123
Bangor Power Co.—See Bangor Ry. A El
Bangor Ry. & Electric Co
8
8
Barcelona Traction, Light & Power Co..
144
Bar Harbor El. Lt. Co.—See Bangor
Ry. & El.
Bar Harbor & Union River Power Co.—See
8
8
Reading
4
Bath St. Ry.—See
8
Bartlesville Gas A Electric
4
42
144
Alton A Jacksonville Ry
..144
Alton A Northern RR
144
Alton Ry. Gas A Elec. Lt.—See East St. Louis
&
Alton Ry. A
Altoona
A
42
111.—See E. St. Louis A Sub. Co.
Logan
Valley
Altoona Northern
American Cities
American
Electric
42
Ry.100
RR.
144
Co
&
Northeastern Electric Ry
Ry. & Electric
Water.
Light
&
Power
Co.—See
Southern Public Utilities Co
Androscoggin Electric Co.
Androscoggin &
Kennebec
Anniston Electric
A
.115
A
Gas
Ry
114
Co.—See
Public
Co.—See
Wash.
Bait. & Annapolis.....
Ardmore
(Okla.)
__
Street Ry
...109
Arkansas Valley Interurban Ry...
Arkansas
Coast
135
Valley Ry. Light & Pow. Co
Sea Girt
Electric
134
RR.—See
5
Asbaway & Westerly Ry. Co.—See Shore Line
Electric
Ry_.
Ashevllle Electric Co.—See Ashevllle
Light
Pow. &
Co
Ashland
(Wis.)
Ashtabula
Atchison
Rapid Transit
82
.
144
Railway Co
9
Big Four Elec. Ry
.144
Co__.jl44
Biloxi El. Ry. A Power Co.—See Gulfport A
Miss. Coast Tract. Co
Island
A
Brooklyn
17
Bing. Ry
9
Blnghamton Railway Co
9
See
Railway..........
86
Brooklyn Rapid Transit
13
Brooklyn Rapid Transit
13
Brooklyn Union Elevated—See N. Y. Consol.
16
Traction Co
109
144
Brunswick Trac.—See Public Service Ry
Brunswick
&
Yarmouth
Ry.—See
77
Andro¬
scoggin & Kennebec Ry.
Bucks
County
....114
Interurban
Ry.—See
94
Buffalo Bellevue & Lancaster Ry.—See Inter¬
national
Buffalo &
Traction..
18
Depew Ry
18
Buffalo Dunkirk 6c Western RR.—See Buffalo
Buffalo
Gardenvllle
&
17
Ebenezer
Ry.—See
Erie County Traction Corp—
Buffalo
Ham.
&
Aur.
17
Ry.—See Erie County
Traction Corp
17
...
17
Buffalo & Lake Erie Traction Co
17
Buffalo Lockport & Rochester Ry.—See Roch¬
ester
Lockport & Buffalo Ry
120
Buffalo & Lockport St. Ry.—See Inter. Trac.
Buffalo & Niagara Falls Electric Ry.—See In¬
Ensley
&
Bessemer
Ry.—See
Birmingham Tidewater Ry. Co
Knoxville
&
10
Allentown
Trac¬
tion—SeePittsb. A Birmingham Tr
Railway
&
Electric—See
Bir¬
mingham Ry. Lt. & Power
9
10
.144
Bleecker St. A Fulton Ferry RR_.
85
Bloomfleld
Bloomington Decatur & Champaign RR
Street—SeePittsb.
Trac. System. 110
21
Bloomington & Normal Ry. El. A Heating Co.
52
144
—See Bloom. & Norm.
Buffalo
22
Bloomington A Normal Ry. & Lt. Co..
18
18
Niagara Falls Electric
RR.—See International Traction
18
Buffalo Traction.—See International Traction
18
Buffalo & Williamsville Electric Ry
18
Burlington Elec. Lt. & Pow....
75
Burlington County Ry.—See Burl. Co Tran..
73
Burlington County Transit Co
73
Gas Light Co.—See South Jersey
Gas, Electric & Traction
Co
76
22
Burlington (Iowa) Ry. & Light Co
59
Burlington (Vt.) Traction...
64
Butler Railways Co
6
Bloomington Pontiac A Joliet Elec. Ry
Atlanta Gas Light Co.—See Ga. Ry. A Elec..
6
Blue Grass Trac. Co.—See Ky. Trac. A Term.
Blue Hill Street Ry
91
Ry
144
Atlanta Northern Ry.—See Ga. Ry. & EI. Co.
Atlanta St. RR.—See Ga. Ry. & Elec. Co
6
6
Atlanta Water 6c Elec. Pow. Co.—-See Ga. Ry.
A Power Co
Rapid Tran__
14
Atlantic City & Ocean City Co.—See Atlantic
City 6c Shore Co
Boston &
6
Boston
6
...
Shore
Electric
Eastern
10
Co
Mil.
&
—
19
/^adillac Gas Lt. Co.—See United Lt. 6c Rys.
51
^adillac
Water & Light Co.—See Consumers
Power Co
50
i.
22
Cairo City Gas Co—See Cairo Ry. A Lt. Co..
12
RR
Cairo Elec. & Trac.—See Cairo Ry. A Light..
22
Cairo Ry.ALt, Co
22
144
10
Brock.—See
19
...
75
....
Boston Elevated Ry
Atlantic City A Shore RR.—See Atlantic
City
A
Borden town
6
Atlantic City & Shore Co
144
...
Boston A Chelsea RR
Atlantic City 8c Ocean City RR.—See Atlantic
City & Ocean City Co
10
(Idaho) Ry
Boise Valley Traction Co
19
—
6
Bluffton Geneva & Celina Trac. Co
Boise
6
Atlantic Ave. RR.—See Bklyn.
Blue Ridge Elec. Co.—See Georgia Ry. A Pow.
19
...
Butte Electric Ry
Macon
jk
18
...—
Tonawanda &
Burlington
Ry. A Lt__
Eastern
Massa¬
chusetts Street Railway Co
Cairo & St. L. Ry
22
Calais (Me.) Street
11
Boston & Northern St. Ry.—See Eastern Mas¬
Caldwell
19
Railway
(Idaho) Traction Co
144
California Eastern 6c Northern RR
—144
Co
6
11
California Pacific Ry.—See Pac. Elec. Ry
Atlantic A Suburban Ry_
7
Boston & Revere Electric
12
California Ry.—See San Fran.-Oak. Term. Ry
Atlantic Coast Electric
5
Boston Suburban Electric Companies
11
California Ry. & Power
Boston A Worcester Electric Companies....
13
California
13
Calumet Elec. St. Ry.—See Cal. & So. Chic...
Atlantic
Coast
Elec.
Ry__
Lt.
Co.—8ee
Atlantic
Coast Electric Ry
5
Atlantic Shore Line Ry.—See Atl. Shore Ry..
(?1
Atlantic
61
Auburn
State
Shore
6c
&
Northern
Elec.
RR.—See
Railroad Corporation
Auburn &
Aug.
Ry
Ry.—See
130
.
130
Augusta-Aiken
A Electric
Augusta
7
(Me.)
Hallowell
&
7
Gardiner
RR.—
See Androscoggin & Kennebec Ry
Augusta
Wlnthrop
114
Gardiner
Androscoggin A Kennebec Ry
Aurora Elgin
A Chicago
Aurora Plainfield
u.
& Joliet Ry
Massachusetts Street Ry. Co
11
Ry.—See
Dom.
P
Brattleboro
Gas
Ry.—See
25
59
——...144
78
Camden Horse RR.—See Camden & Suburban
78
Camden A Suburban Ry
Lt.
6c
1
Pow__
78
140
138
Light Co.—See Twin
Canal A Claiborne RR.—See N. O. Ry. A Lt..
144
CanandaiguaEI. Lt.A RR.—See N.Y.St. Rys.119
Canarsle RR. Co.—See N. Y. Consol. RR
State
13
Brazilian Traction, Light A Power.
—142
Canton-Akron Cons. Ry
14
Canton-Maaalllon
Canton-New
Elec.—See Am. Rys. Co.(Phila.)..
99
Akron
16
2
Ry.—See Canton-
Akron Cons. Ry
Trac.—See Conn. Ry. 6c
Light Co
Electric
83
2
Canton-Akron Ry.—See Can.-Akr. Cons. Ry.
79
Bridgeport (Conn.)
Bridgeton
26
Camaguey (Cuba) Co., Ltd
Canadian
A
Bridge Operating Co.—See Bklyn. R. Tr. Co..
114
26
Camdeh Inter-State Ry.—See Ohio Val.El.RylOl
11
Transm. Co
95
123
Street Cable
Camden Gloucester 6c Woodbury Ry—
Braintree St. Ry.—See Eastern Massachusetts
Brantford & Hamilton
66
......124
.....
Calumet A South Chicago Ry
118
Gas & Electric Co
7
&
ing Transit & Light Co
Brantford Municipal Ry...
Augusta (Ga.) Ry. & Elec. Co.—See Augusta
Aiken Ry. & Elec
Boston A Worcester Street Ry_.
Boyerstown & Potfcstown St. Ry.—See Read¬
Street Ry. Co
Ry.
Augusta-Aiken Ry. & Elec. Co
Railway Co
Braintree A Weymouth St. Ry.—See Eastern
Empire
Syracuse Electric RR
Aiken
sachusetts Street
18
Buffalo Southern Ry.—See Erie County Trac¬
tion Corp
9
...
ternational Traction
Buffalo Ry.—See International Traction
109
Atlanta Consol. St. RR.—See Ga. Ry. & El..
&
144
Penn¬
sylvania-New Jersey Ry
BIrdsboro St. Ry.—See Reading Tr. & Lt. Co.118
Birmingham-Tidewater Ry. Co
Athol A Orange St. Ry.—See Northern Mass.
Atlanta
15
Buffalo & Lackawanna Traction Co
54
BInghjamton Lest. A Union—See
Black River (N. Y.) Traction Co
5
Atlanta & Carolina Ry
17
& Lake Erie Traction Co
11
92
Street Ry_.
4
Beverly A Danvers-—See Eastern Massachus¬
21
ElectrlcjCo
9
Beth. A Nazareth—See Leh. Val. Transit.
58
Ry., Light & Power
Athens Railway A
13
Brooklyn Cable Co.—See Nassau Electric
Bryan (Tex.) & Central Texas Inter. Ry
13
78
Berkshire Street Ry
Birmingham Ry. Lt. A Power.__
Light, Power A Street Ry.—
Ry. & Lt. Co
13
.......
117
See Ironwood & Bessemer
87
Brooklyn Bath & West End RR.—See B. R. T. 13
Brownsville Avenue Street Ry.—See Pitts. &
Benton Harbor-St. Joe Ry. A Lighting..
Birmingham
117
Ashevllle Power & Light Co
E. Co
Birmingham
95
......
11
Bronx Traction Co
Birmingham
.116
Atlantic
Ry.
Street Ry. Co
Brooklyn Queens County & Suburban RR.—•
109
Billings (Mont.) Ry., Light 6c Power
144
Ardmore Street Ry
Asbury Park A
5
....
Utilities
etts
13
87
Biddeford & Saco Railroad
"Railway
Industrial" Section
Annapolis
113
Brockton Street Ry.—See Eastern Massachus¬
Brunswick Terminal & Railway Sec
Corp
Ben Avon A Emsworth St. Ry
etts Street
11
Brockton A Plymouth Street Ry
Birm.
Berwick & Nescopeck Street Ry.
24
11
Ry.—See
144
Bergen Turnpike Co
.133
Ry. Co
13
Bennington Water Power Co.—See Twin State
55
.
St.
111
Bennington Elec. Co.—See Twin State G. & E.
Anacostia A Potomac River RR.—See Wash.
Anderson
Traction Co
Traction
&
Bridgewater
Brooklyn A North River RR.—See Third Ave¬
Bellaire South Western Trac. Co.—See Wheel¬
G.
East
Eastern Massachusetts Street Ry. Co
nue
98
Hampton—See Massachusetts
A
Ry.—
Brooklyn Heights RR.—See Brooklyn R. T._.
9
84
Railways Co
Amesbury
St.
Brooklyn Crosstown RR.—See Brooklyn R. T.
Beaver Co. Light Co.—See Duquesne
Light Col 10
Beaver Valley Traction
110
Belt Line Ry.
Taunton
12
chusetts Street Ry. Co
Beaumont Trac. Co.—See Eastern Tex. Elec.
ing
85
Brldgewater &
See Eastern Massachusetts Street
50
Rouge Electric Co
Beech Grove (Ind.)
Suburban Co
Avenue RR.
8
Baton
Bay City Gas Co.—See Consumers Power Co_
Bay State Street Ry.—See Eastern Massa¬
...
Seventh
6c
Androscog. A Kenneb.Ry._114
4
4
Louis A Suburban Co
B'y
Brooklyn City RR.—See Brooklyn Rap. Tran.
Alliance Electric Ry.—See Stark Elec. RR
Alton Jacksonville & Peoria
5
85
RR.—See
92
Allentown Bridge Co.—See Lehigh Val. Tr.Co.
Alton Granite & St. L. Trac. Co.—See East St.
Surf.
Brooklyn City & Newtown RR.—See Coney
pelier & Barre Light A Power
4
Allentown & Slating ton—See Lehigh Val. Tran.
of Indiana..
Broadway
Brooklyn A Bright. Beach—See Bklyn. R. T.
Bangor Ry. & El. Co
Barre A Montpelier Trac. 6c Pow.—See Mont-
Allentown & Reading Traction Co
58
B'way & 7th Ave. RR
2
61
13
144
Broad Ripple Natatorium.—See Union Trac¬
Albany Ry.—See United Traction (Albany)..
Alfred Lt. A Power Co.—See Atl. Sh. Ry
13
British Columbia Electric Ry
Broad Ripple Traction.
RR.—See United Rys. A Elec. Co
95
11
131
144
Bristol (Tenn.) Traction Co..
8
Baltimore Halethorpe & Elkridge
Ry
Rys__
See Eastern Massachusetts Street Ry. Co..
Bristol County Street Ry
Bristol 5c Norfolk Street Ry
San
Baltimore Catonsville A Ellicott's Mills Pass.
A
Alameda Oak Park A Pied. El.—See San Fran.
Oakland Terminal
Page.
7
—
Joaquin Lt. & Pow. Corp
2
-
Alabama City Gadsden & Attalla St. Ry
Lt.
(Texas) Street Ry.
Oaden 6c St. L. RR.—See United
Reading Transit A Light Co
Trac.,
Page.
Austin
......144
Adrian Street Ry
Alabama
145
2
Philadelphia Ry.—See Canton-
Cons. Ry
2
Gape Breton Electric Co
Capital Traction...
141
19
—134
...
Gape May Del Bay & Sewell's Point RR
--—
....
100
Ry
Co.—See Mauch
Carbondale Ry.—See Scran ton
Transit
70
—116
Carolina Power & Light Co
144
Hill, S. C.)
Carolina Traction Co. (Rock
13
Cass Ave. & Fair Gr. Ry.—See United Rys. Ool21
Cassville & Western Ry
144
Catharine & Bain bridge Sts. Ry
103
Oatskill (N. Y.) Traction Co.
14-4
Cayuga Lake El. Ry.—See Ithaca Traction... 58
Cedar Rapids & Iowa City Ry. & Light Co.—
See Iowa Ry. & Light Co..—
—-—
19
Cedar Rapids & Marion City Ry_.
...—
52
Elec.
Citizens'
Citizens'
—
Columbus
91
Columbus
Gas St Electric Co—
Gas
Co.—See
Elec.
Sc
Columbus St Ninth Ave. RR.—See
Columbus Power Co.—See Colum. Elect.
Union
Columbus (Ga.) RR.—See
Ry.,
49
Gas St Elec, Co
Citizens' Gas & Fuel.—See United Gas &
El.Co.89
Citizens'
Central
Ry.
Arkansas
87
Co
Federal Light & Traction
-.103
*—
Co.—See Tri-City Ry.&Lt.
51
L. & P. Co.—See Newp. News
Citizens' Ry..
54
Hamp. Ry., G. & E. Co.
——
57
70
Citizens'
Union Sc
76
69
111. Lt. Co.—See Union Ry. G. Sc E.Co 49
Illinois Public Service Co
70
Kentucky Trac. Co.—See Kentucky
—.....
Trac. & Term. Co
Central Mississippi
64
—
Ry. P. & Lt. 33
Central Market St. Ry.—See Col.
Valley Electric Properties. 61
58
IthacaTractlon Corporation
87
Central Passenger Ry.—See Central Traction.110
Central Pennsylvania Traction Co.—See Harrisburg Rys
55
Central Ry.—See United Raiiways St Electric.
7
Central Ry.—See Peoria Ry
23
Corp
......
—110
Central Traction
41
Detroit St Port Huron Shore Line
City
Electric
Ry.
Rome
Ga.)—See
(Rome,
—121
Ry. St Light Co
Power
50
Commonwealth Power Co. of Nebraska.—See
65
Lincoln Traction Co
Terminal Ry.—See
United Railways Co—.121
54
36
Coney Island St Brooklyn RR
17
Coney Island & Gravesend—See Bklyn. R. T. 14
Conestoga Realty Co.—Se Lancaster County
Ry. & Light Co
63
Concord Maynard & Hudson Street
117
—
Conestoga Traction—See Lan. Co. Ry. & Lt. 63
78
79
Connecticut Ry. & Lighting
Connecticut
52
Valley Street Ry
.119
92
City Railway (Dayton, Ohio) Co
38
City Ry. of Los Ang.—See Los Aug. Ry. Corp. 67
Conshohocken Ry.—See Schuylkill Valley
City St Suburban Gas Co.—See West Va. Trac.
Oonsol. Elec. Light Co. of Maine.—See Cum¬
(Sedalia, Mo.).
City Light & Trac. Co,
St
Electric
Co.
jl
17
Connellsville
Penn
Suburban Street
Ry.—See West
111
Railways Co
berland
7
Electric Co. of Baltimore
54
Clair ton Street
24
Claremont
Olarksvllle
110
By
-...118
(N. H.) Power
.......118
(Tenn.) & Dunbar Cave Ry
...144
Claremont (N. H.)
Ry. & Lighting Co
144
Cleburne Traction Co
Charleston Oonsol. Ry. Sc Lighting Co
24
Cleveland Alliance & Mahoning Valley
Charleston-Isle of Palms Traction
24
Cleveland
24
Charleston Interurban RR
Southern Pub. Utll. 24
Electric Ry. Light Sc Power Co.—
24
......
Co
144
25
Chattanooga Elec. Ry.—See Chatt. Ry. St
Lt. 74
Chattanooga Gas Co.—See Un. Lt. Sc Rys.
Co. 51
Chattanooga Rys. Co.—See Chatt. Ry. Sc
Berea
Cleveland
Cleveland
Chagrin
Trac..144
Consolidated Lt., Ht. & Power Co.—See Amer.
Co
Rys.
98
1
Falls
Lt_. 74
74
Chattanooga Railway Sc Light..........
Chautauqua Traction Co
59
Cleveland
Elyria
St
Consolidated Traction of Pittsburgh, Pa
Consumers
Light,
&
Heat
United Electric Co. of New Jersey
50
Consumers' Water St Light Co
Continental
Passenger
22
.103
Ry
Copley Egypt St Iron ton St. Ry.—See Lehigh
31
Cleveland Ry_„_ 31
Valley Transit
4
...
Corning St Painted Post Street Ry
31
Ry
Erie Ry. Co
48
.144
Corry-Deavitt-Frost Electric Co.—See Mont¬
pelier St Barre L. Sc P. Co
8
144
Cortland
144
RR.
County Traction Co. ("Chicago)—See Chicago
Cleveland St Ohio Central Electric Ry
Sc
County Traction
36
West Towns Ry
28
Cleveland Painesville St
Ashtabula RR
32
Cleveland Painesville St
Eastern RR
31
Creston Winterset & Des Moines
31
Crosstown St. Ry.
Cleveland
Railway
Company
101
Cleveland Rapid Transit Ry
103
Cleveland St Sharon Rapid Transit Co
101
Cleveland St
ter Traction
Ry
Chester Street Ry.—See WII. A;
Ches. Trac
Chester Traction—See Wilm. Sc Ches. Trac. OolOl
144
Cleveland Southwestern St Col. Ry
21
Cleveland &
Chicago City St Connecting Rys
26
Clifton Suspension Bridge.—See
Chicago City Ry
26
Dec. St
Chicago Cons.
Champaign
....
Trabtlon—See Chicago Rys
26
Chicago Sc Desplaines Val.—See Am. Rys. Co. 99
28
Onlcago Elevated Railways
Chicago Fox Lake St Lake Geneva..
.......144
Chicago St Interurban Traction
26
......
Chicago & Joliet Elec. Ry
31
...
...100
Chicago Junction RR
29
Chicago Lake Shore Sc South Bend Ry.;
70
Street
;
144
18
.......
Coast Counties
Coeur d'Alene St
St Inland
Power
128
Sc
26
Colorado
28
sin-Minn. Lt. St Pow. Co...
......
Christiana
St
Coatesville
Street
63
Springs
63
Light
Sc
Power
—See Columbia Ry.,
88
&
& Montour Elec.
33
144
cinnati Newport St Covington...
Cincinnati St Dayton Traction Co
Cincinnati Georgetown St Portsmouth
Cincinnati
&
Hamilton
Elec.
.......
3
....
RR.
29
Gas &
See Col. Ry. Gas St
Elec.
33
35
33
35
35
Cincinnati & Hamilton Traction Co
30
Columbus Ed. Co.—See Col. Ry., P. St Lt. Co.
33
CIn. St Ham. Tract. Co.—See Ohio Tract. Co.
30
Columbus (Ga.)
33
Cincinnati Lawrenceburg St Aur. Elec. St. RR.
29
Columbus Grove City St Southwestern
Blanchester Traction..
30
See Indiana Columbus St Eastern:
Cincinnati
Milford &
Cincinnati Newport St Covington
Lt.&Tr.Co.. 36
Columbus
Interurban
Terminal Co
See Tnd. Colum. St Eastern
34
...
38
Dayton Traction.—SeeCin. & Dayton Trac
35
Dayton & Troy Electric
38
Dayton & West.
34
Trac.
Decatur Railway &
Ry.
&~Lt_.
22
Light Co
22
Dedham (Mass.) & Franklin Street Ry
County Gas Co.—See 111. No. UtILCo. 41
De
Kalb
49
4
Sycamore & Interurban
Trac.—See
Union Ry. Gas & Electric
Delaware County &
J
!. 49
Philadelphia Electric Ry.101
Delaware & Maryland Trac. Securities Co
Ry.—
22
144
De Kalb-Sycamore Elec.—See Union Ry. Gas
& Electric
Delaware Sc Marion Ry.—See Co¬
Electric Co
38
Dayton Springfield & Xenia Southern
De Kalb
35
Col. Delaware & Marion Elec. Co
-
34
Dayton & Soldiers' Home RR.—See City Ry.
Decatur Trac. & Elec.—See Decatur Ry.& Lt.
Columbus Delaware St Marion Elec. RR.—See
lumbus Delaware & Marion Electric Co
38
Dayton & Northern Traction Co.—See Indiana
Decatur Gas & Elec.—See Decatur
Securities Co.—
Elec. Co.
—See Columbus Newark St Zanesville
Columbus
Co.—See Cin¬
cinnati & Dayton Traction Co
133
(S. O.) Ry., Gas & Elec. Co.
Columbus Buckeye Lake St Newark Traction
36
35
22
103
Dayton (O.) Street Ry.—See City Ry....... 38
Co.—See Lehigh
Power Securities Corp
Ry.
22
144
Dayton Springfield & Urbaba Electric Ry.—
Gas St Electric
Montour Electric Ry
Columbia
Columbia
35
Light..
Danville (Va.) Traction & Power Co
Columbus & Eastern
Heat & Power Co.—
Columbia
Cin¬
Danville (111.) Street Ry. &
......
Dayton Covington & Piqua Traction...
See United Gas St Electric
Columbia Ry.—See Wash. Ry. & Elec. Co
Traction Co
22
Ry
Darby & Yeadon St. Ry...
88
86
Covington St Erlanger.—See
Danville & Southeastern
Darby Media>& Chester Ry.—See Phila. R. T.102
Co.—See
29
nati & Dayton
22
22
33
TJnited Gas St Electric Co
Colorado Springs Light,
Cincinnati St Columbus Traction Co
Cincinnati & Hamilton Electric.—See Cincin¬
22
Danville St Eastern Illinois Ry
Danville Urbana & Champaign Ry
*
Christopher St Tenth Sts. RR
Cincinnati
37
Danville Champaign St Decatur Ry. St Lt. Co.
88
Interurban Ry
Columbia
Ry.—See
....
2
..118
Co
Columbia (S. O.) Elec. St. Ry. Light & Power
69
Lancaster Co. Ry. St Lt. Co
Light
Electric Co..
25
Choctaw Power St Light Co
...
Colorado Springs Electric Co.—See United Gas
Chicago Sc West Towns Ry
Pow.—See Wiscon¬
37
36
144
Danville St Northern.—See Danv. St. Ry.&Lt.
124
Spokane Ry.—See Spokane
Empire Ry
Chicago Union Traction—See Chic. Rys. Co..
Chippewa Vail. Ry. Lt. St
...144
Danbury (Conn.) & Bethel Street Ry
Coast Valleys Gas & Electric Co..
Colorado Springs St
144
36
Dallas Power St Light Co
_r126
St
Rys. 26
Dallas Railway Co
Dallas Northwestern Traction Co
Light St Power Co.—See Coast
Counties Gas & Elec
United Tract Ion Co
Electric Ry
36
Association.—
Dallas Railway Co
Colonial
Chicago St West.—See Chic. City Sc Con.
92
Dallas Southwestern Traction Co
Cohoes Ry.—See
Chillicothe & Camp Sherman
Terminal
126
22
.......
See
Interurban
116
...
29
Chicago Surface Lines
Ry. Go
r\allas Electric Term.—See Dallas Ry. Co
70
Co
27
27
144
Cumberland & Westernport Electric
Coast Counties Gas St Elec. Co..
Chicago Ottawa St Peoria Ry
,
114
Coal Castle Electric Ry.—See E. Penn. Rys..
Chicago St Oak Park Elevated Ry
Chicago South Bend St Northern Indiana Ry..l28
Ry.,P.&Lt. Co. 33
Cumberland County Power & Light Co
33
Chicago North Shore & Milwaukee RR
Chicago Railways Co
(Buffalo)—See Inter. Trac. 18
Crosstown St.—See Columbus
alias
International
Ry
Coal Belt Electric Ry.
.144
31
Youngstown RR
Traction Co
Clinton
RR
Cumberland Electric Ry.
44
Southwestern Traction Co.—See
Cleveland Southwestern St Columbus Ry
Chic. Bloom. Sc Decatur Ry.—See Blooming-
36
Corpus Christ! Ry. & Light Co
Cleveland
Chester
Chester Sc Media Elec. Ry.—See WI1. Sc Ches¬
75
89
Cheboygan El. Lt. Sc Pow. Co
.....144
Darby&Phila.—SeeWII.AGhesterTracl 01
109
Co.—See
Power
32
Western—See
Interurban
Cleveland
77
31
............
Southwestern & Columbus
Cleveland &
8
38
Consolidated Traction of New Jersey
Consumers' Power Co
Cleveland Sc Elyria RR.—See Cleveland South¬
Cleveland Electric Ry.—See
Barre Light St Power Go
Cons. Secur. & Inv. Co.—See Den. Tram. Co.
32
Ry
western St Columbus RR..
78
Montpelier &
Consumers' El. Lt. & Pow. Co. (New Orleans)
Ry.—See
Columbus.....
Sc
Southwestern
St
Oberlin
Elyria St
Cleveland & Eastern Traction
Charlottesville St Albemarle Ry
ton
114
111
Consolidated Lighting Co.—See
Sc Electric-
See Southern Pub. Utilities Co.
118
County Power & Light Co
Consolidated Gas Co. of Pittsburgh
City & Suburban Ry—See United Railways St
24
Chester Sc Philadelphia
Ry..
Concord Street Ry_.
City & Suburban St. Ry. (Brunswick, Ga.)._.144
Charleston Consoli¬
Charlotte (N. C.) Rapid Transit
11
-
Consumers'
Co.—See
Connecticut Company
Traction St Electric Go
Ltg. Co
Charlotte
Commonwealth
Consolidated Railway Co.—See Conn. Co
Sc Electric
Charlotte Elec. Ry.—See
Light Co
City St Suburban Ry.—See Wash. Ry. St El..133
Ry.—See Hagerstown & Frederick Ry
See Charleston Cons. Ry. St
Commonwealth Power, Ry. St
Commonwealth Avenue St. Ry.—See Eastern
21
Ohambersb. Greencastle St Waynesboro Street
Charleston Consolidated Ry. Gas
33
144
48
Columbus Urbana & Western Ry
City St Suburban Ry.—SeePort.Ry.,L.&Pow_115
Ohambersburg St Gettysburg Elec. Ry
dated Railway Gas
—144
Mich.)..See
(Port Huron.
City Electric Ry.
96
...
City Electric Co., Albuquerque, N. M
33
Ry.—See Col. Ry., Pow. & Lt_.
Columbus St
......144
Centre 3c Clearfield Street Ry.
Charleston City Ry.—See
110
...
Citizens' Traction Co., Oil City
City Gas Co.—See Norfolk Ry. & Light
River RR.—See
Central Park North & East
5
Indiana
of
Traction
Citizens' Traction
33,
Co
Columbus Railway, Power St Light
Compton Heights Union Depot & Merchants'
Ind.)—See
(Muncie,
Ry.
City St Elm Grove RR. Co.—See West Virginia
RR, Corp.—See
Central New York Southern
Union
Street
P. St L. Co. 33
Columbus Ry.—See Colum. Ry.,
Power Co
(Indianapolis, Ind.)—See
Citizens' Street Ry.
Co. 33
Columbus Elec. Co. 33
Massachusetts Street Ry. Co
Memphis Street Ry.
Electric Co.—See Somerset
Belt Line Ry.
Ry. (Phila.)
Indianapolis Street Ry
Middlesex Lighting Co.
Central
Citizens' Pass.
Citizens' Ry. St Lt.
Citizens' Street RR.—See
Central Georgia Power Co—
Central
118
Traction
Valley
York Rys. 84
Central Crosstown RR.—See New
Central
Schuyl¬
Ry., Norristown—See
Pass.
Marion El. Co. 35
Columbus Traction Co.—See Col. Ry. & Lt.Co
Traction Co—...........129
Central California
Central
kill
St
Corp.-See
Light
&
Citizens'
55
Harrisburg Rys
Pass. Ry.—See
& Equipment.
Columbus Northern Ry., Power
—See Columbus Delaware &
—
...
N. Y. Rys. 84
76
75
Massachusetts
35
Elec. Ry
Columbus Newark St Zanesville
Union St
Northeastern Street Ry
Co.—See Twin State
Cascade Light & Power
75
——
Ry.—See
St.
Springs St Nor. Ry
Columbus Magnetic
55
Middlesex Lighting Co
13
Gas & Electric Co..
34
38
Marion St Bucyrus Ry. Co
70
New Albany St Johnstown Trac. Co. 35
Columbus St Eastern
—_
Citizens' Electric Co.—See Somerset
Springfield Ry.—See In¬
Columbus London St
diana
144
Traction.
Columbus Kenton & Toledo
.........
.......
Cities Service Co
Citizens' Elec. Light, Heat St Power.....
Co.—See Twin State
Cascade El. Lt. & Power
30
Cincinnati Traction Co..
...
30
Gin.& Westw'd RR.—See Ind.& Cin.Trac.Co_ 58
Olnnaminson Elec. Light Power Sc Heating Co.
Cincinnati Street Ry
of River ton N. J.
Chunk &
Leighton Transit Co.
Page
Pvge.
Page.
Carbon
[Vol. 110.
INDEX TO RAILWAYS
14«
34
Delta Light & Traction Co
34
Demerara Electric Co., Ltd.. Halifax
144
..144
...144
147
INDEX TO RAILWAYS
ape., 1920.]
Empire Passenger Ry
Denver City Tramway.—See Denv. Tram.Co.
Empire State Railroad Corporation
38
Denver Consol. Tram.—See Denver Tram. Co. 38
Denver & Inter-Mountain..
40
....
Denver & Northwestern Ry
38
Page.
Page.
Page.
Denison & Sherman Ry.—See Texas Elec. Ry. 37
Ephrata &
103
...
Adamstown
.....130
144
...
38
Equitable Coke Co.—See Philadelphia Co
Erie Cambridge Union & Corry Ry
144
38
Erie & .Central Pennsylvania Ry
144
Denver Tramw. Co.—See Den.Tram.Pow.Co.
38
Erie County Traction Corp
Denver Tramway System
—
18
...
Erie Electric Motor Co.—See Buffalo & Lake
Denver Tramway Terminals Co.—See Denver
38
Tramway Co
Dee Moines & Central Iowa Electric Co..
23
Des Moines City Ry
40
Erie Traction Co
& Power Co
17
Central Iowa Electric Co
23
Lake
Erie Traction Co.
vania
17
Ry
Erie Southern Ry
43
....144
...
6
El. Go.—See Galesb. Ry.
&
23
Galesburg & Kewanee Electric Ry_.
61
.....
72
Galesburg Railway, Lighting & Power Co.... 23
47
Galvaston-Houston Electric Co
47
Galveston-Houston Elec. Ry.—See Galv&ston-
...
40
Des Moines St. RR.—See Des M. City Ry
Gas
Ltg. & Pow. Co
Galveston Elec. Co.—See Galv.-Hous. El. Co.
Erie Traction Co.—See Northwestern Pennsyl¬
Des Moines Electric Co.—See Des Moines &
Galesburg
Galesburg & Western RR
.........
Erie Rapid Transit Co.—See Buffalo &
13
/"Gainesville Ry. & Pow. Co.—See Georgia Ry.
106
38
Denver Tramway Co.
Denver Realty Co.—See Denver Tram. Co_._
54
...
63
....
Ephrata & Lebanon Street Ry
& Frederick Ry
Fulton Elevated—See Brooklyn Rapid Tran._
Ry.—See Lancaster
County Ry. & Light Co
Frostburg Ilium. & Mfg. Co.—See Hagerstown
Houston Elec. Co
Gardner
47
...
Westminster &
Fitchburg St. Ry.—
40
Escanaba (Mich.)
41
Essex & Hudson Gas Co
76
Gary Connect. Rys.—See Gary St. Ry. Corp.
Detroit Electric Ry.—See Detroit United Ry.
40
Evanston Ry
28
Gary & Hobart Traction
Detroit & Flint.—See Detroit United Ry
40
Evansville & East. Elec. Ry.—See Evansville
....
44
Gary & Interurb. Ry.—See Gary St. Ry. Corp.
40
Evansville Elec. Ry.—See Union Ry., G. & E_
49
Gary Street Ry.—See Gary Street Ry.
41
Evansv. G. & E. Co.—See Un. Ry., G. & E__
49
Gary Street Railway Corporation
Des Moines Sub. Ry.—See Des M. City
Detroit Almont & Northern RR
Detroit
Fort
Wayne
Belle
&
Detroit United Ry
C<i>
....
Isle
& Ohio
Ry.—See
...
Detroit Jackson & Chicago
Detroit & Lake St. Clair Ry.—See Detroit &
Evans.
Port Huron Shore Line Ry
41
Detroit Monroe & Toledo Short Line Ry__
&
Owensboro.—See
Linei
41
41
Detroit Rochester Romeo & Lake Orion.—See
Detroit & Flint Ry
40
40
Detroit Ypsilanti Ann Arbor & Jackson Ry.—
Pub.
Serv.
Geary St. Park & Ocean RR...
General Gas & Electric Co.—See ' Railway &
49
Co.—See
Geneva Seneca Falls & Auburn RR. Co., Inc..
41
Gas & Electric
49
49
...
Evansville Suburban & New burgh Ry_
44
11
Exeter Hampton & Amesbury St. Ry
144
Covington
.......
Dixon Rock Falls & Southwestern Ry
Dominion Power
&
36
144
Transmission Co
.144
Dover Gas Light Co.—See Twin States Gas &
Electric Co
...
Dover Somersworth & Rochester
Doylestown & Willow Grove Ry
103
RjR_... 87
Du Bo is Electric & Traction Co
Duluth
Street
42
Duluth
Ry.—See
-
airmont & Clarksburg Trac. Co.—See Monon-
&
44
Mannington
Park
Fairmount
&
44
Haddingtou Pass.
Dubuque Electric Co
Fairmount Park Transit Co
101
Farmington Street Ry.—See Conn. Co
78
Fayetteviile (N. C.) Light & Power Co
144
87
Federal Street & Pleasant Vadey Ry
42
...
Felicity & Bethel RR.—See Cin. Georgetown
42
Dunkirk & Fredonia RR.—See Buffalo & Lake
Erie Traction Co
Duquesne Light Co
110
Duquesne
110
Traction
&
109
iTast Cleveland
Ry.—See Cleveland Ry...
astern Massachusetts Street
124
San^Francisco
Eastern Power &
&
131
Traction
Southern
Eastern Texas
9
Co
144
Eastern Wisconsin Electric Co
127
Eastern Wisconsin Ry. & Light Co.—See East¬
Wisconsin Electric Co
ern
East Jersey St. Ry.—See Public Service Ry..
77
109
East Middlesex Street Ry
12
East Newark
76
Gas Light
East Reading Elec. Ry.—See Reading Trac..118
Louis Light & Power Co.—See East
St. Louis & Suburban Co
Suburban
Ry.—See San
cisco-Oakland Terminal Rys
&
Queens Co.......
Fonda
and
Lac St.
and
"Railway
Ft. George
...
&
South
Bethlehem
Claire
Gas
4
63
63
Orleans
Eighth
& Electric.
Gas
Electric
of
New
New
Railway & Light Co
...
Electric City Ry.—See Internat. Trac. Co
Electric Co. of N. J
84
18
.101
Electric Devcl. Co.—See Toronto Power Co..141
Electric Properties Co.
&
United
&
Raritan
Street
Central
Jersey.—See
River
Street
Ry.—See
Ry
78
County Ry. & Light Co
63
Light & Railroad
...
43
43
El Reno Interurban Ry.—See Oklahoma Ry..
96
Elwood Electric.—See Union Trac. of Indiana.
5
Grafton
South
Elyria &
Electric
Co.—See
45
86
...
Marlboro
&
Southboro
Ry.—See Boston & Worcester St.
72
13
Ry
& Southern.—See
Cleveland
Western & Columbus Ry__
__105
31
Ry...
11
—...
sachusetts Street Ry._
11
...
!
chusetts Street Ry.....
Street
Ry.—See
...
chusetts Street Ry
Goff's Falls Litch.
11
Massa¬
Eastern
—11
Hud.—See Man. Trac.
&
69
Light & Power
144
&
Upton
bridge St.
—
RR.—See
47
.
Milford
Ux-
&
Ry
...
70
50
Grand Rapids Grand Haven ic Muskegon Ry.
51
Grand
Rapids Holland & Chicago Ry.—See
49
—See Gr. Rapids
Holland & Chicago Ry... 49
Grand Rapids-Muskegon Power Co.—See Con¬
sumers' Power Co
Grand Rapids
...
Railway..
.....
50
50
........
87
Greene & Coates Sta.,
Greenfield
Greenfield
Turner's
&
Connecticut Valley
52
Philadelphia, Pass. Ry.103
Deerfield & Northampton St.
Fa Us
atreet
Ry.
..^.
52
Ry.—See
Street Ry
....
52
Transit
13
.
Greensboro Electric Co.—flea North Carolina
Public Service Co.
....—
54
Greenville-Carolina Power Co.—See Southern
—Jl 24
Greenville Spartanburg &
Anderson Ry.—See
25
Greenville (S. C.) Traction Co.—See
Greenwich &
Southern
......
—
24
Schuylersvllle Electric RR.—See
Hudson Valley Ry..
3
Greenwich Tramway Co.—See Connect't Co..
78
Freeport Ry. & Lt. Co.—See 111.
Gulfport Sc Mississippi Coast Traction Co.... 54
Electric
Hagers-
54
95
......
Guthrie-Edmond Ry.—See Oklahoma Ry
96
41
Oagerstown & Boonsboro Ry.—See Hagers**
Power Co.—See 111.
Light &
Ry_.
Nor. Util.
-
-
—
54
Groton & Stonington St. Ry.—See Shore Line
54
RR,—See
Middletown
& Frederick RR
town & Frederick RR
54
41
Hagerstown & Frederick Ry........
47
Fresno Interurban Ry
144
Fresno Traction Co
—
47
Fries Mfg. & Pow. CoSee So. Public Util.
Hagerstown & Myersville Ry.—See
town & Frederick RR........
Hagerstown & Northern Ry.—See Hagerstown
24
Hagerstown L. & H. Co. of Wash. Co.—See
Nor. Utilities Co....
—
Ry.—See Fresno Traction Co
Co
-
-
Front & 5th St. Ry.—See
Frontier Electric
Oberlin.—See Cleve. S. W^ & Col— 31
Street
Public Utilities Co.....
13
Ry—...
Frederick Gas & El. Co.—See Hag. & Fred. RR.
Ry.,
3
Globe Street Ry.—See Eastern Massachusetts
Piedmont & Northern Ry
Street
Framingham Union Street Ry.—See Boston &
Freeport
144
...
Ft. Edward Street
Public Utilities Co
Wise.
Tract., Light, Heat & Power Co
&
Ry
Falls Sandy Hill &
RR.—See Hudson Valley Ry
Greenpoint& Lorlmer St.—See Bklyn. Rapid
46
Fresno City
El Paso Electric Co
Elyria
Indiana Traction...
(O.) & Fremont Ry
Co
77
...
Elizabethtown & Florin Street Ry.—See Lan¬
caster
45
87
town
Glendale & Montrose
Glens
6
.........103
—See Connecticut Valley Street Ry
Wayne
Frederick RR.—See Hagerst. & Fred. RR—
77
Elizabeth & Trenton RR
Elmira Water.
...144
Ft.
Fostoria
Street
6
Ry
Light & Traction Co....
Wert & Lima Trac. Co...— 35
Ft. Wayne & Northern
Worcester
Germantown Passenger
Green Bay Trac. Co.—See Wise. Pub. Ser. Co.
45
Forty-Second St. & Grand St. Ferry RR
Frederick
25
United Street Ry
Elizabeth
Co.—See
Traction
Valley
Georgia Railway & Electric Co
Green Bay Gas & El. Co.—See Wisc.Pub.S.Oo. 52
Wayne & Wabash Valley Trac. Co.—See
River
6
45
Frankford Tacony & Holmesburg Ry
.103
Elgin & Chicago....
Plainfield
—...
Frankford & Southwark Phil a. City Pass. Ry.103
Elgin Aurora & Southern Traction.—See Au¬
Elizabeth
& Nor. Ind. Trac..
& Northwestern Ry
Framingham
Georgia Elec. Light Co.—See Ga. Ry. & Elec.
45
144
Electric Traction (Philadelphia. Pa.)_
rora
....
& Decatur Traction Co
Wayne
7
7
Grays Harbor Ry. & Light Co.—See Federal
144
(N. Y.)
Electric Short Line Ry
Augusta-
38
Traction Co
& Northern Indiana Traction
Fort Wayne Van
Fox
83
Avenue RR
45
144
Forty-Second St. Manhat. & St. Nich. Ave. Ry.
76
Orleans.—See
Fort
Ft.
Edison Electric Illuminating—See Paterson &
Passaic
.....
& Northern Indiana Traction Co
4
Light & Power Co
Edison
(Pitts.). 109
Bluffton & Marion Traction Co.—
Fort Wayne
Light Co.—See Wisc.-Minn.
Edison Elec. Co.—See Lan. Co. Ry. & Lt
Co.—See
Michigan Railroad...
86
& Eleventh Ave. RR
See Ft. Wayne
Power
Grand Rapids Holland & Lake Michigan Ry.
Industrial" Section.
Fort Pitt Traction—See Consol. Trac.
Ft. Wayne
4
Easton Consol. Electric oo
Eau
31
Cleveland Ry
Fort Scott Gas & Electric Co
Co.—See
Trans.
Augusta-
Grand Rapids Ed. Co.—See Consum.Pow.Oo.
127
Fort Smith Light &
Elec. Ry.—See
Easton Consolidated Electric.....
Easton
Co.—See
Aiken Ry. & Elec. Corp
Street Ry. Corp...
Eastern
Fort Scott & Nov. Lt., Ht., W. & P. Co..
95
Georgia-Carolina
Grafton
& Southern RR.—See
Fort Dodge Des Moines
Fort Wayne
Bethlehem
Invest.
GoughSt. Ry.—SeeUn. RR. of San Francisco. 124
4
Ry. & Light.—See
Forest City Street Ry.—See
Ft. Wayne
&
Georgia-Carolina
Goldsboro (N. O.) Traction Co
RR.—See
Industrial" Section.
Wisconsin Electric Co
East Side Traction Co.—-See N.Y.State Rys_.ll9
Palmer
....133
66
.....
Gloversville
&
Johnstown
"Railroad
Easton Consolidated. Electric Co
Easton
Wash.
Goshen South Bend & Chicago RR.—See Gary
Flushing & College Point Elec. Ry.—See N. Y.
42
Fran¬
.....
11
Ry.—See
Ry. & Elec
50
42
...
East St. Louis & Suburban Co.
East Shore &
....
Consumer Power Co
Fond du
127
East McKeesport Street Ry
East St.
45
Fitchburg & Leominster Street Ry
Flint Gas Co.—See Michigan Light Co.—See
.117
Co
Traction
45
11
116
Light Corporation
Eastern Texas Electric
Ry
& Tonally town
Georgetown
Gloucester
Findlay Street Ry.—See Toledo Bowling Green
31
Railway Co
64
Gloucester & Rockport.—See Eastern Massa¬
United RRs. of
Fishkill Electric Ry,.
Eastern Pennsylvania Rys. Co
Street
Gloucester Essex & Beverly—See Eastern Mas¬
29
Portsmouth..
Ferries & Cliff House Ry.—See
17
...
Kentucky Trac. & Term..
Massachusetts
Georgia Ry. & Power Co.
Ry.—
See Hestonville Mantua & Fair mount. ....103
42
Duluth-Superlor Tractlo!i_.
48
Lexington Traction Co.—See
Georgia Light, Power & Railways (with map). 69
Traction.—See
Federal Light & Traction Co
Superior
Trac.
gahela Valley Traction..
Fairmont
Monongahela Valley Traction.
13
55
Dry Dock East Broadway & Battery
pair Haven & Westville RR.—See Conn. Co. 78
138
Dominion Traction & Lighting Co., Ltd
Section.
&
Aiken Ry. & Elec. Corp
Dixie Terminal Co.—See Cincinnati Newport
&
76
144
Georgetown Rowley & Ipswich—See Eastern
Evansville & Southern Indiana Traction Co.—
Evansv.Term.Ry.—See Evans.& Ohio Ry.Co.. 44
Eastern Massachusetts Street Ry. Co
Light, Heat & Power
Georgetown
Ry.,
76
Light Co. of New Brunswick—See New
Iudustrial'
Co.—See
Union
48
Gas & Electric Co. of Bergen County
44
....
Traction
See Union Ry., Gas & Electric
See Detroit Jackson & Chicago Ry
Dighton Somerset & Swansea Street Ry.—See
47
Gas
Brunswick
Union Ry., Gas & Electric
Evansville
Detroit United Ry. (with map)
Princeton
&
4^
.....
44
Evansville & Ohio Railway Co
Evansville
..144
49
ville & Ohio Rys. Co
47
Corp..™47
44
& Ohio Rys
Evansville & Mt. Ver. Elec. Ry.—See Evans¬
Ry.-j—See Det. United Ry.. 40
Detroit Ry.—See Detroit Electric Ry.
52
144
Gary & Valparaiso...........
Evansville Light Co.—See Union Ry., G. & E.
144
See Northern Massachusetts Street Ry
Gary & Southern Traction Co
Evans.
40
Detroit Pontiac & Owosso Ry
Detroit <fc Port Huron Shore
Rys. Co..
Hend.
44
...
41
Detroit & Northw.—See Detroit United Ry__
Detroit & Pontiac
Traction Co
--
Read. Tr. & Light.. 118
144
Ry
Frostburg Eckhardt &
—See Cumberland
Westernport El. Ry.
Frederick
...
RR—......—
Lehigh Power Securities Corporation
Hagerstown Ry.—See Hagers. & Fred. RR
54
54
3
54
Halifax Electric Tramway.—See Nova Scotia
Cumberland Elec. Ry.
&
&
54
Hagers¬
92
Tramways & Power Co
138
17
-138
Co
Dominion Power & Transmission
35
Cincinnati & Dayton Traction
Hamilton St. Ry.—See Dom. Power
& T. Co_.138
Hammond Whiting & East Chicago
Ry
26
News & Ilamp. Ry., Gas &
54
55
Gas & Electric Co
Hanover & McSherrytown Street Ry—
See
55
—See Connecticut Co
-
Lehigh
Co.—See
Electric
131
78
Co
Hartford Street Ry.—See Connecticut
Harwood
78
-
Ry_.|
3
Securities Corporation..
Electric
Ry.
Haverhill &
92
138
138
Co
55
chusetts Street Ry. Co.
11
Massachusetts Street Ry. Co.
Steam
Heating
Power Securities
11
Corporation...
3
_!
56
Henderson Trac. Co
44
59
Gas,
Jacksonville Ry. & Light Co
23
59
23
138
Jamestown Westfield & Northwestern RR
Janesville (Wis.) Traction Co.—See Union
82
Street Ry
49
83
..142
Tramway, Light & Power Co..
23
Jefferson City Light, Heat & Power
Twin
6
& Ohio Ity..
13
Electric Co.—See
62
Jersey City & Bergen RR.—See Cons. Trac. Co. 77
Jersey City Harrison & Kearney Ry. Co.—
Jersey Central Traction Co
Twin States
Electric Co
(N. Y.) Traction Co
Hot Springs Street Ry.—See
Jefferson Division.—See Penna.
13
States Gas & Electric Co
144
87
Ry. & Light
Houghton County Street
Ry.
77
See Consolidated Traction of New Jersey
Central Arkansas
Jersey City Hob. & Pat.—See Pub. Serv.
Ry__ 77
Johnstown Trac..
Johnstown Pass. Ry.—See
(Mich.).—See
59
59
56
Johnstown Traction Co
Houghton County Traction Co
56
Joliet RR.—See Chicago & Joliet
Houston Elec. Co.—See Galv.-Hous. Elec. Co.
47
Joliet & Eastern Traction
Houston Gas & Fuel Co
90
Joplin & Pittsburg Ry. Co
Houghton County Traction Co....
Houston
Lighting & Power Co.
American
Electric Ry.100
59
106
(1905).—See
84
Electric Co
i/anawha Traction &
97
Hudson County Gas Co
76
anawhaValley Traction Co.—See Charleston
Hudson River & Eastern Traction Co
97
Interurban
River Ry. & Ferry Co
78
3
Ry
Humboldt Transit Co. (Eureka, Cal.)
Huntington
Charleston
&
44
24
,
144
144
Kankakee Urbana Traction Co
101
Kansas City Elev.
i
Kansas
60
59
Clay County & St. Joseph..
Kansas City,
Ry.i—See K. C. Rys
Kansas City Kaw Valley
Ohio
RR.—See
Valley Electric Ry. Co
RR
Kankakee Electric Ry
Hudson River Traction Co.—See N. J. & Hud¬
son
60
& Western Ry
60
City Power & Light Co..
The Wash. Water Power Co. System.
128
Kansas
Outer
City
60
Light Co
Belt
Elec.
&
"Railway & Industrial" Section.
23
Illinois Northern Utilities Co...
41
Kansas
City Railways Co
21
Kansas
City & Westport Belt Ry.—See Kan.
...
Illinois Valley Gas & Electric.—See'' Railway &
Industrial"
Illinois
City
22
144
Indiana Columbus & Eastern Traction Co
Traction
Co.—See
34
Union
Traction Co. of Indiana
Indiana
Ry.—See
5
Chicago
South
62
Bend
128
Indiana Union Traction Co.—See Union Trac.
Co. of Indiana
5
Indianapolis Chicago & Meridian Ry
144
Indianapolis & Cincinnati Traction Co
58
Indianapolis Coal Trac. Co.—See Terre Haute
Ind. & Eastern
56
....
Indianapolis ColumbusA Southern Traction Co. 33
Indianap. Crawfordsv. & Danv. Elec Ry
Indianapolis &
Eastern
Ry.
57
^
56
Eastern Trac. Co.. 56
Indianapolis & Louisville Trac. Ry
Indianapolis Newcastle & Eastern Trac. Co
5
Ind. Newc. & East. Trac. Co.
Traction
5
Co.—See
Union Traction Co. of Ind
5
Indianapolis & Northwestern Traction Co
57
Ind. Shelbyville & Southeastern Traction Co.
—See Ind. & CIn. Traction Co
Street
Railway
88
119
Valley St. Ry
Electric Co.—See Lehigh
3
Corporation
Power Securities
3
55
Lehigh Val. Trac.—See Lehigh Val. Tran. Co.
4
Lehigh Valley Lt. & Pow. Co.—See Lehigh
Valley Tran. Co
—
4
Lehigh Traction
!
Lehigh Valley Transit Co
Leominster & Clinton St. Ry.—See
4
New Eng.
136
Invest. <fc Sec. Co
Leominster Shirley & Ayer
St. Ry.—See Fitch-
burg & Leominster Street
45
Ry
Lewlsburg Milton & Watsontown Pass.
Lewlston
Auburn Elec.
&
Ry— 71
Lt. Co.—See An¬
115
droscoggin Electric Co
Watervllle St. Ry.—See
Lewiston Augusta <&
114
Androscoggin & Kennebec Ry
Bath
&
Brunswick
Lewiston
St.
Ry.—See
114
144
Lewiston Connecting Bridge—See Int. Trac— 18
Lewiston & Youngstown Frontier Ry
94
Lewistown & Reedsville Electric Ry—
64
Knox County
.120
62
Knoxville Ry. & Light Co
Knoxville Traction—See Knox. Ry. & Lt. Co.
Ferry
Ry.—
84
Boston St. Ry.—See Middlesex
Lexington &
11
& Boston Street Ry
64
Rys.—See Kentucky
Lexington & Interurban
64
Trac. & Term. 64
Lexington Utilities Co
...
64
Licking River Br. Co.—See Cin. New. & Cov. 36
Lima Electric Ry. & Light
35
Lima Findiay & Toledo—See Western Ohio Ry 64
Lima-Honeoye Electric Light & itR
—144
Lima-Honeoye Falls Light & RR
144
Securities
Corporation
Toledo\Trac. Co.—See Ohio Elec. Ry_ 34
Lt. Co
144
Lima &
Lincoln (111.) Ry. &
(Neb.) Traction
Louis
65
—_—
United Railways Co. of St.
—121
—L
—
Linglestown & Blue
Mtn.—See HarrisburgRys. 55
144
Y.) & Johnstown RR
Little Fails (N.
Little Rock Railway &
65
Electric Co—
Lockport Gas & Electric.—See
United Gas &
88
Electric Co
Lockport Light, Heat &
Gas
&
Power.—See United
88
Electric Co
Street
Rapid
Central
Lombard
&
4
acka.
Vail. Trac.—See Scranton Ry._100
Wyo.
&
Vail.
Rap.
Tr.
Co.—See
.126
Wilkes-Barre Trac
144
Laconia Street Ry
62
Lacrosse City Ry.—See Wise. Ry. & Lt. Co.. 62
Lacombe & Blindman
Lafayette
&
Logansport
Street
Traction—See
Street
South
Frankford
45
Ry.—See
Ft.
Wayne
Midland
45
63
Bowling Green & Napoleon Elec.Ry. 144
Lake Erie &
Traction Co..
Light & Water Works
Northern Ry
Lake Erie Trac.
Co.—See Buff. & L Erie .Trac
144
17
Ry.—
Phila.
City
-.103
&
Frostburg
Ry.—See
92
Cumberland & Western port
Transportation
139
144
London & Port Stanley Ry
London (Canada) Street
139
Ry—
65
65
Long Island Trac.—See Brooklyn Rap. Tran_ 13
Lookout Mtn. Ry.—See Chatt. Ry. & Lt. Co. 74
Long Island Consol.
Electrical Cos__
Long Island Electric Ry
RR.—See/Lake Shore Elec__
Lorain St. RR.—See Lake Shore
Loramie & Minster Electric
&
Passenger
Southwark
&
Passenger Railway
Lorain & Cleve.
Ft.
Ind. Trac
Northern Indiana
Lake Erie
Valley Electric Ry
123
-
London & Lake Erie Ry. &
| ackawanna
Utah-Idaho
Co.—See
Transit
RR__
Lonaconing
Ry.—See
Allentown & Reading
Logan
18
Internat. Traction
Lockport & Olcott—See
See
62
Fleetwood
&
62
Traction Co.—See
Indiana Rys. & Light
Lake Charles Ry.
57
Pavonia
&
Avenue
See New York Rys
Lincoln
El. Co 61
Electric Co
Lafayette
Co.—See Indian¬
Lexington
—
58
57
Lewiston-Clarkston Transit Co__
Lindell Ry.—See
Utilities Co
58
See Ind. & Cin. Traction
apolis
Power Co.—See United Gas
Co
Electric
64
126
62
Kingsbridge Ry
87
Kings Co. Elevated—See N. Y. Consol. RR.. 16
Kings Co. Traction—See Nassau Electric
17
Kingston City RR.—Seb Kingston Cons. RR. 62
Kingston Consolidated RR
62
Kittanning & Ford City—See West Penn Trac.Ill
Keystone
Wayne & Nor.
Indianapolis & Southeastern Traction Co.—
Indianapolis Street Ry
Indianapolis Trac. & Term.
Keokuk Elec. Ry. & Pow.—See Keokuk
Scranton &
Indianap. Newcastle & Toledo El. Ry.—See
Northern
&
61
....
Electric Co
67
Indianapolis & Martinsville Rapid Transit Co. 57
Indianapolis
64
Kentucky Traction & Terminal Co
Kutztown
Indianapolis & Greenfield Rapid Transit—See
Terre Haute Indianap. &
Co. 71
Kentucky Securities Corporation
Kokomo Marion & Western
Co.—See Terre
Haute Ind. & East Traction Co
64
Co
Key Wast Electric Co
&
Northern Indiana Ry
61
Ry
Kenosha Elec. Ry.—See Wise. Gas & Elec.
Keokuk (Iowa)
Indiana Rys. & Light (Kokomo)..
59
59
...
Kansas Electric Utilities
& Peoria
Indiana Northern
Rys
Kansas City-Western
Section
Valley Ry. Co.—See Chicago Ottawa
Independence Neodesha & Topeka Ry
11
chusetts Street Ry. Co
Leav. Lt., Ht. &
Lexington Ry.—See Kentucky
Ry.—See
Illinois Central Traction Co
(with map)
Massa¬
Lexington Ice Co
City/Light & Power Co.—See Kansas
Kansas City Power &
Jdaho-Washington Light & Power Co.—See
Illinois Traction Co.
63
Eastern
Androscoggin & Kennebec Ry
Cities Co..
Hudson Valley
Lt. & Tr— 87
Lehigh Power Securities Corporation
Jardim Botanico Tramway.—See Rio de Janei¬
ro
Reading.—See
&
Lebanon
Ry.,
Gas & Electric
Hoosac Valley Street Railway.—See Berkshire
Ry.—See Chic. 8. B.
128
Lehigh Navigation
144
Un. Rys. 49
Laurel Light & Railway Co..
14
—
63
63
Street Ry
Transit Co.—See Fed.
59
B. It. T
63
Co. Ry. & Lt
Stras. Ry.—See
& Nor. Ind. Ry
Lawrence
Co.—See
Coke
&
Light
Lane
& Lt. Co
Lancaster Co. Ry.
Las Vegas
Traction Co..
Jacksonville
Lancaster Trac. Co.—See
La Porte & Mich. City
Elec. Co.—See Jacksonv.
Jamestown Street Jiy__
Hooslck Falls RR.—See Berkshire Street Ry
Gas &
(Fla.)
63
144
Street Ry
Lansing & Jackson Ry.—See Mich.
59
...
63
—
Springs Ry.—See Lancas¬
& Lt. Co...
58
Jackson (Tenn.) Ry. & Light Co
Jamaica & Brooklyn RR.-—See
56
Illuminating Co.—See
Co. Ry. & Lt. Co.
caster
Lancaster & Rocky
Lancaster & York Furnace
Co.
Light
63
Quarryville Street Ry.—See Lan¬
Lancaster &
50
144
Honolulu Rapid Transit & Land Co
49
,
Michigan
Jacksonville Ry. & Light Co
Holyoke Street Ry
Hornell
Rys
Co.—See
Gas
63
Lan¬
Petersburg & Manheim—See
Lancaster Willow St. Lam. &
Co.—See
—See Consumers Power Co
119
Hocking-Sunday Creek Traction....
Hoosick Falls
United
Michigan
49
—
Traction
Creek
Battle
&
103
Railways
Hestonvllle Mantua & Fairmount Pass. Ry
Falls
Mich. United Rys
Fuel Co.—See Lan¬
Co. Ry. & Lt. Co
Lancaster & Southern
Jacksonville (Fla.) Traction Co
Herkimer Mohawk llion & Frankf. Elec. Ry.
Hoosick
caster
Co.—See
Traction
Consolidated
lackson
63
Lt. Co
&
Light
Holland-
New
&
County Ry. & Light Co.
caster
Lancaster
58
58
Trac. Corp
Gas
63
63
Ry. & Lt. Co
Ry.—See Lane.Co. Ry.&Lt.
See Lane. Co. Ry. &
19
Ithaca Traction Corp
Jacksonville
Lehigh
Co.—See
Helena Light & Railway Co
—See New York State
Ithaca Street Ry.—See Ithaca
63
63
Columbia—See Lane. Co. Ry.&Lt.
Mechanicsburg
Lancaster
21
144
2
70
Co.—See Memphis St. Ry—
RR.—See Lan. Co. Ry. & Lt.
Lancaster & East.
58
...
Utilities Co.
Iowa Southern
Iron wood & Bessemer Ry. A Lt
Jackson (Miss.) Light & Traction Co
Haverhill Georgetown & Danv.—See Eastern
Hazleton
51
Iowa Railway & Light Co
Jackson
Massa¬
Eastern
Andover.—See
Tri-City Ry
Tri-City Ry.&Lt.51
29
Co.—See Canton-Akron
Co....
Lancaster &
Lancaster
Light Co
Jackson
Amesbury Street Ry.—See New
&
&
&
Ry.
Lancaster City
ter Co. Ry.
Hampshire Electric Railways
Havervill
51
Iowa City Lt. & Pow. Co.—See
Cons.
Lake View Trac.
Lancaster County
Gas & Elec. Co.—See Tri-City Ry.
Light Co—w
Havana
(Cuba).—See
Electric Ry., Light & Power
Havana Electric Ry., Light & Power
30
Irwin-Herminie Traction Co
Power
Hattiesb,,Tr. Co.—See Meridian Lt. & Ry.Co,
Havana
40
144
Electric Ry
Iowa & Illinois Ry. Co.—See
Rockville Tramway.
Hartford & Springfield Street
105
(Des Moines)
Inter-Urban Ry.
Iowa City
55
Railways
Manchester &
144
RR.—See Chicago
Ry
Lake View L. & Iinpt.
...
48
Elevated
137
Co
Pa.—See
Traction
Street
32
City,
Mahanoy
Ry.,
Schuylkill
Lake
Inter-State Consolidated Street Ry
&
Railways Co..
Valley
Lakeside
Oak Park Elevated
89
Harrisburg Light & Power Co
Hartford
18
Internal. Traction Co. (Buffalo)
lola (Kansas)
Harrisburg & Mechanicsburg Electric Ry.—■
Harrisburg
Co... 18
88
Corporation.
Gas & Electric
Colo.) 144
International Ry.—See Inter. Traction
Interurban Ry. & Terminal Co
United
Harrisburg Electric Service Co.—See
Inter-Mountain Ry., Lt. & Pow. Co. (of
Inter-State Railways
7
(Cleveland)
Lake Shore Electric
Inter-State Public Service
54
Elec. Co
Hampton Roads Trac. Co.—See Newp. News
& Hampton Ry.,
40
International Transit Co. (Sault Ste. Marie)..144
Langley Field Ry.—See Newport
Hampton
Inter-
&
Denver
Ry.—See
Electric Co. of Baltimore.
RR
Mountain
Hamilton & Lindenwald Electric Trans.—See
United Rys. &
Elevated—See
Roland
Lake
and Industrial" Section.
Inter-Mountain
144
Lake Erie & Youngs town
Interborough Rapid Transit Co.—See "Rail¬
way
& Tr. Co.—See
Hamilton, Cat., Power, Light
Page.
Page.
Paot
Hamburg Ry. Co.—See Buff. & L. Erie Trac._
[Vol. 110.
RAILWAYS
TO
INDEX
148
Los Angeles Hermosa
Elec. Ry
RR
32
144
Beach & Redondo—See
Pacific Electric Ry
Pacific Co.—See Pac. Elec. Ry—
66
66
66
Angeles Ry.—See Los Angeles Ry. Corp.. 67
Los Angeles
Los Angeles Pac.
Los
32
RR.—See Pac. Elec. Ry
Page.
Page.
Los
Newark Pass. Ry.—See Consol. Trac. Co——
06
Newark Plank Road.—See Cons.Trac. of N. J.
77
MIddleb. Wareham & Buzzard's Bay St. Ry.—
New Bedford & Onset Street Ry
78
Ry.—See Pa¬
—
Los Angeles Ry. Corp.;
Ry
66
Los Angeles & San Diego Beach Ry
144
Los Angeles Trac.—See Los Ang. Ry.
Interurban
Corp.—
67
67
-
Lowell & Fitchburg Street Ry
Lawrence
Massachusetts
Street
Low Fare Ry.—See
Ry.
Milford Attleboro & Woonsocket St. Ry.
31
100
Light Co.
Lynchburg & Roanoke—See American Rys. Co 98
100
Traction & Light Co
&
chusetts
100
RR.—See
Boston
Street
Ry. Co
12
...69
Ry.& Light Co
79
New Haven Street Ry.—See Conn. Co
79
Millvale Etna & Sharpsburg
110
Allegheny Traction
Millvilla Traction
71
'
;
71
19
Ry.& Lt. 71
Electric Ry_:
69
Minneapolis Anoka & Cay una Range RR
144
144
23
Minneapolis Northfield & Southern
Madison (Wis.)
69
Minneapolis Street & St. Paul City Railway.—
map).—See Republic Ry. & Light Co
88
Mahoning Val. S. E.—See Rep. Ry. & Lt
88
.120
69
St.
72
..144
120
61
Ry
122
69
Manhattan & Queens Traction
Ry.—See
Minnesota Central Ry.
72
Mobile Street RR.—See Mobile Light & RR.
72
17
Corporation..
"Railway &
Mobile Light & Railroad
69
Light 8c Power Co
Manhattan Bridge (N. Y.) 3-Cent Line
Manhattan
72
Minneapolis St. Ry.—See Twin City Rap. Tr.
Missouri Electric RR
Ry.—See Manch.
Trac., Light & Power Co
Manchester Traction,
Minneapolis & St. P. Sub.—See Twin C. R. T.
Missouri & Kansas Interurban
66
Mohawk Valley Co.—See N. Y. State
Rys—119
Valley
65
Ry.—See
&
Hagerstown
Frederick Ry
Section."
54
139
139
Monongahela
Marion
Ry
51
Bluffton
&
East.
10
10
Marion City Ry.—See Un. Tr. of Ind
5
umbus, Delaware & Marion Elec. Co
35
Market Street Cable Ry.—See U. RRs. of 8.F.124
St. El.
Pass.
Ry.—See
102
Market St. Ry.—See United RR. of San Fran. 124
Marlboro
&
Westboro
Street
136
Michigan Gas & Electric
58
Marquette County Electric Railway Co
58
Water & Light Co
22
&
Pacific
Grove
44
Ry.—See
Iowa Ry. & Light Co
19
144
Maryland Electric Rys
8
Mass. North.
Co.-
-
Ry
Street
Montgomery
Montgomery
Ry.—See
72
72
Light & Traction Co
gomery
Montoursvllle Passenger Ry
—144
73
_
8
140
Montreal Public Service Corporation
Montreal Street Ry.—See
Mont Tramways.. 139
139
139
Montreal Tramways & Power Co
Line Elec. Ry..
Moose Jaw
95
144
(Sask.) Electric Ry
Maumee
Valley
McGavock
&
Nashville
Meadville
North
111. P. S, Co. 70
Light Co...
Railways &
Mt.
Vernon
Ry. & Light
&
Conneaut
Western
Meadville (Pa.)
Media Glen
.144
Rockdale.—See United
Power & Transportation
Memphis Street Ry._
70
Trac. Co...144
Mercer Co. Traction.—See Trenton Street
Merchants' Electric
1
leans
Ry_132
Railway Co
83
Meriden Horse RR.—See Connecticut Co
78
Meriden Southlngton & Compounce Tramway
Meridian Light 8c Railway Co
Mesaba
92
Railway
132
Metrop. Crosstown RR.—See New York Rys.
84
Metropolitan RR.—See Wash. Ry. & Elec...133
Incline
Oliver
Plane Ry.—See P.
8c
Muncie Hartford & Ft. Wayne
Muncie
<fc
Portland
Muncie & Union
Muscatine &
Traction
City Trac.
61
144
.144
Co
5
—
35
Dayton
Michigan
City
Traction
Co.—See
Sohth Bend & Northern Indiana
5
...
-144
73
73
Muskegon Traction & Lighting Co
Muskogee Electric Traction Co
.128
—
12
T
—
16
shville &
&
73
Edgefield RR.—See Nashville Ry.
74
Light Co
74
Nashville Railway & Light Co
Co_ 74
74
Nashville St. Ry.—See Nashv. Ry. & Lt.
Nashville Traction
RR.
-—
Electric St.
New York & North Shore Traction
(Roslyn)—121
New York & Port Chester Ry.—See New York
83
Westchester & Bost on—
New York & Queens County Ry. (L.
I. City). 66
84
New York Railways Company
-----119
New York State Railways
New York & Stamford Ry_
83
-
83
144
18
International Traction
18
International Traction
& Boston Street Ry
-
Niagara St. Catherines & Toronto Ry__— —140
75
Norfolk & Atlantic Terminal—See Va. Ry. &
Norfolk
119
Central St.
St. Ry. Co
Iiy.—See Eastern Mass.
11
-- —
—
46
Norfolk
&
Portsmouth
Va.
Co.—See
Trac.
119
119
Ry. & Power Co
Norfolk (Va.) Ry. &
Light
Norfolk Street RR.—See Norf. Ry. & Lt.
Norfolk
Sub.
RR.—See
Eastern
Co.119
Mass.
St.
11
-
Norristown
Pass.
Ry.—See Schuylkill Valley
118
Norristown Trans. Co.—See Leh. V.
Trans.Co.
necticut Valley St,
52
Ry
—See Northampton
Traction Co
sit & Light Co———--
50
New Albany St. Ry.-—See Lou. &
49
Newark Consolidated
Michigan Railway Co.—See Michigan RR__.
49
Newark Gas Co.-See Newark Consolidated Gas
Michigan Traction.—See Mich. United Rys_.
49
Newark & Marion Ry.
-
So. Ind. Tr.
Co
42
42
—
Northampton Traction Co. (Easton, Pa.)——
144
North Branch Transit Co
Hudson
County
54
Co
Ry.—See
Public
77
Service Ry
United
5
Co.—See
Electric Co. of New Jersey
North Jersey St. Ry.—See
North River Ry.—See
;
75
Public Service Ry- 77
Hudson Valley Ry
Northern Cambria Electric Ry
Reading Tran¬
58
Traction
Northampton Easton & Washington
North Hudson Light, Heat & Power
Ry
—
—
Gas
94
Ry.—See Con¬
Northampton & Amherst St.
North
99
Neversink Mountain Ry.—See
3
144
Northampton Street Ry
11
Neptune Elec. Co.—See Atl. Coast Elec.
86
—
—
North Carolina Public Service
Middle-
—
94
—
74
Ry. & Light
Natick & Cochltuate Street Ry.—See
sez
17
Ry, & Power Co.—See
Southern
78
144
Rapid Transit
North Alabama Traction Co
Michigan Gas & Electric Co—
New York & North Jersey
Traction
Mystic Valley St. Ry.—See Easter* Mass. St.
Michigan Light Co.—See Consumers Power Co.
Michigan Railroad
65
Municipal Ry. Corp
New York New Haven & Hartford Ry-------
Ry. Co
54
Navigation Co.--
Chicago
84
-
-
Island Traction
Norfolk & Bristol Street Ry
Co.—See Union
National Properties Co...
Miamisburg & German town.—See Cincinnati
New York
16
Power Go
5
105
Ry. Co.
New York & Harlem ItR
Ninth Avenue RR
Myersville & Catoctin Ry.—See Hagerstown
Natchez
Mexico Santa Fe & Perry Traction..
13
87
-
Nichols Electric Light & Power—
Traction Co.—
Iowa City Ry
Nassau Electric
...144
66
RR.—See
Ry. Co
144
Traction Co. of Indiana
84
&
Flatbush
&
108
(O.) Elec. St. Ry...
28
Co
Williamsburg
Niagara Gorge Ry. (Electric)
B.
—109
Traction System.
Metropolitan St. Ry. (N. Y.).—See N.Y.Rys.
Mexico Tramways
94
Niagara Falls Whirlpool & Northern Ry.—See
115
Light & Power Co..
Mt.
Metropolitan West Side Elev. Ry. (Chicago)..
Mexican Light & Power, Ltd
Newport News & Hamp. Ry. Gas & Elec.Co. 54
18
Ry.,
]W tshua Street Ry-78
...
54
-
Niagara Falls & Suspension Bridge Ry.—See
& Frederick Ry
Light Co.—See New Or-
Co
_■
17
Meriden Middletown & Guilford Electric Ry.144
—See Connecticut
12
Niagara Falls Park & River—See Int. Trac—
144
...
Municipal Service Co
105
Menominee & Marinette Light &
12
12
Fall River Street Ry.
Newport
Niagara & Erie Power—See Buff. & L. E. Tr.
See Union Traction Co. of Indiana.
43
Pennsylvania Ry.
36
73
Mousam River RR.—See Atlantic Shore Ry__
Trac.—See Northw. Penn. Ry 43
Riddle &
nati Newport & Covington
Newport Ilium.—See Newport & Fall River._
New York Westchester & Boston Ry
Mt. Washington Street Ry.
74
.....
Medfield & Medway Street Ry
Street Ry.—See Cincin¬
N. Y. Westchester & Conn. Trac. Co..;
Co——
Ry. & Power.—See Portland
Mt. Vernon
Traction.—See
Lake
Hood
70
RR.—See
Horse
Newport & Dayton
76
92
_
83
-
110
73
Morningside Electric Street Ry
Mt.
52
83
Railway & Light
144
Morgantown & Wheeling Ry
Mountain Lake Electric RR
91
Lehighton Transit Co
83
Light Co
New Orleans Traction Co.—See New Orleans
New York & Long
Montgomery (Ala.) Traction Co.—See Mont¬
11
Rys.—See Maas. Consolidated—
Mattoon City Ry. Co.—See Cent.
Railway & Light
New Orleans Ry. &
New
Morris town Gas Light Co
Massillon Elec.& Gas Co.—See Cities Serv.Co.
Mauch Chunk &
New Orleans & Pont. RR.—See Now Orleans
Brooklyn Rapid Transit--
55
Ry.
144
New York Consolidated RR
Morris County Traction Co.
St.
83
Power
New York City Interborough
Morris RR.—See Morris County Trac.
Street
Railway <Sc Light
New Orleans & Grand Isle Traction, Light &
72
52
Northeastern
83
Newtown Ry.—See N. Y. & Queens Co. Ry—
Montgomery Light & Traction Co
52
Massachusetts Elec. Companies—See Eastern
83
-
N.O.Ry.&Lt 83
144
Monterey (Mex.) Railway, Light & Power
Mason City & Clear Lake RR
Massachusetts
New Orl. City & Lake RR.—See
124
Massachusetts Consolidated Rys
Maas.
Co.—See New Orleans Ry. & Lt
New Orleans City RR.—See N. O. Ry. & Lt-
Newport & Providence Ry
Coast
Valley Gas & Electric Co
Montville St. Ry.—See Shore
(Iowa) Lt., Power & Ry.—See
Martinez & Concord Interurban Ry
95
New Orleains & Carrollton RR. Light & Power
Co
Montreal Tramways Co
Marseilles Water & Light Co.—See Consumers
Line
Shore
Ry.—See
Newport News & Old Point Ry. & Elec.—See
Montpelier & Barre Light & Power
Marquette County Gas & Electric Co.—See
95
-
Street
Ry
Newport News & Hampton Ry., Gas & Elec.
Duquesne
Montgomery Transit & Light Co...
Ry.—See New
Eng. Invest. & Sec. Co
Marshalltown
Pow.—See
(Ala.) Light & Traction Co
Philadelphia
Rapid Transit
&
Light Co
Monterey
London
Electric
Montgomery Co. Pass. Ry.-See Schuyl. V. Tr.118
Marion Railway Light & Power Co.—See Col¬
Market
Lt.
Monongahela Valley Traction Co
Co.—See
Trac.
Marion & Bluffton Traction Co
Marion & Bluffton Traction Co
New
110
Monongahela Street Railway
Manila Suburban
Manistee
77
-
110
Manila Electric RR. & Lighting Corp
Rys
Trac. Sys
New London & East Lyme St. Ry.—See Shore
Newport St. Ry.—See Newport & Fall River.
Monmouth County Electric
Monocacy
Industrial
78
132
New Orleans Gas Light Co.—See New Orleans
72
Mississippi Valley Railway & Power Co
Trac.
Light & Power
Nashua
72
City Rapid Transit
See Twin
63
Ry. & Ferry
Line Electric Ry
Milwaukee Light, Heat & Traction—See Mil¬
Light Co
Railways Company
See Lancaster Co. Ry. & Lt. Co
New Jersey & Hudson River
New Jersey Traction—See Con.
127
Madison County Light 8c Power Co
Mahoning & Shonaugo Ry. & Light Co. (with
55
71 ! New Jersey & Pennsylvania Traction
Milwaukee & Fox River Valley Ry.—See She¬
Milwaukee St. Ry.—See Milw. Elec.
Electric Railways
New Holland Blue Ball & Terre Hill St. Ry.-
Street Ry.—See
Macon Railway &
Manchester &
88
136
New Haven & Centr. St. Ry.—See Conn. Oo_
Milwaukee Western
J
88
New Castle Trac.—See Penn.-Ohio Elec. Co—
54
69
& Power
!
70
;
Manchester & Derry St. Ry.—See Man.
Co.—See Pennsylvania-
70
Milford & Uxbridge Street Ry-
Macon Gas Co
Maine Railways, Light
94
Electric
Castle
Milford & Uxbridge Street Ry
Milwaukee Northern Ry
Electric Light & Ry.—See Macon
jyiacon
Lake RR.—See Orange
Orange
&
County Traction
New Hampshire
waukee Elec. Ry. & Lt.
iT*
Newburg
New
New England Investment & Security Co
boygan Electric Co.
Massa¬
Eastern
-136
Milwaukee Electric Railway & Light
Lynchburg Water Power Co.—See Lynchburg
Lynn
12
76
144
Miller's River Street Ry
12
_
Cleveland Ry
....
Brockton.—See
Ohio Electric Co.
See
Milford Holliston & Framingham St. Ry.—See
Lynchburg Gas Co.—See Lynchburg Trac. &
Lynchburg Trac. & Light
78
Ind." Sect.
New England Invest. & Sec. Co
&
Newburg Electric Ry.—See Orange Co. Trac_ 94
Middletown (Conn.) St. Ry.—See Conn. Co..
Eastern
Co..
New Brunswick Power Co
77
Middle West Util Co.—See "Ry. and
7
Haver.—See
&
75
67
Louisville & Southern Indiana Trac. Corp
New Brunswick Light. Heat & Power Co
Public
Service Ry
67
Louisville Railway Company
Lowell
11
burban Elec. Cos.
67
Louisville & Nor. Ry. & Ltg. Co
New
77
Eastern Massachusetts St. Ry. Co..
Middlesex Electric Light & Power Co
Somerset Traction.—See
Bedford
Middleb.
78
Middlesex & Boston St. Ry.—See Boston Su¬
Middlesex &
Louisville
Ry.—See
Railway.
87
See New Bedford & Onset Street Ry
Los Angeles A; Redondo Ry.—See Pac. Electric
&
Page.
Michigan United Rys. Co.—See Michigan RR. 49
Mid-Crosstown Railway Co
67
Angeles & Pasadena Elec,
cific Electric Ry
Louisville
149
INDEX TO RAILWAYS
ape., 1920 j
US
69
76
3
98
Northern Central Gas Co.—See Lehigh Power
Northern Electric Street Ry. (Scranton).—See
76
(New York)———144
Securities Corporation
Scranton
&
j
Binghampton Ry
Northern Illinois Light & Traction Co
3
9
23
Indiana
Chicago
Ry.—See
128
Northern Ohio Electric
Paterson
52
Bend & Northern Indiana Ry—
Paterson
-
2
& Moor45
Division
Northern Texas Electric Co
46
_
Northern Texas Trac.—See Nor. Texas Elec—
46
Northumberland County Gas & Elec. Co.—See
3
Lehigh Power Securities Co
144
Northumberland County Traction Co.—
Pennsy Ivan la-New Jersey Ry. Co
29
114
43
Northwestern Pennsylvania Ry.
Norton Taunton & Attleboro Street Ry.
14£
31
Southwestern & Columbus- J,
Norwich Street Ry.—See Shore Line Elec. Ry.
95
Line Electric Ry
95
Scotia
Tramways
&
Power & Light
-144
R R iZ'TT.
clscf>Bacram en to
.
.
138
People's Elevating Co
115
Cumber¬
land County Power & Lt. Co
.114
Portland <fe Oregon City Ry
144
Portland (Me.) RR
114
Portland Ry. Co.—See Portland Ry. Light
& Power
—115
Portland
^"airland & Xntloch—SeeJ-San*Fr.-STcra. RR. .9*6
r^klarTd"~San Leandro .HaywardiTEIectrlc
See San Fran .-Oakland Terminal Ry
95
Oakland Term. Co.—See San Fran.-Oak.Term.
Oakland
Oakland
95
95
.
Traction
Term. Rys
95
Co.—See
Transit
Oakland
Terminal
Rys
95
.
Oakwood Street Ry. Co
& Idaho
Lake
Ogden
Central
Central
123
Transit
..123
....
..144
Ohio Valley
30
—
101
96
96
Oklahoma Railway Co
Oklahoma Union Railway
144
St. Ry.—See Eastern Mass.
Ry. Co...
Olean
ern
Peoria
....144
Electric Ry
Colony
11
——
Pennsylvania Traction
Olean St. Ry.—See
West. N. Y. & Perin. Trac. 96
Bridge
97
Omaha & Council Bluffs Street Ry..—
Omaha Council Bluffs &
Suburban
97
Omaha & Lincoln
Co..
97
,
Petaluma & Santa Rosa RR
104
104
42
Philadelphia & Easton Electric Ry
104
Railway Co.
Taunton
St.
St. Ry.—See Eastern
11
R/. Co
Public Service Company of
Oklahoma-
144
map)
75
Public Service Corporation (with
76
Public Service Electric Co
75
-
13
105
65
__
Philadelphia Railways Co
Philadelphia Rapid Transit Co
102
Public Service Newark Term. Ry.—See
119
..106
Co....
36
Philadelphia & Willow Grove Street Railway. 104
Piedmont & Northern Railway...
25
77
77
Public Service Ry (with map)
Public Service
RR...
Electric.
—
Ry.,
Union
Puebla Tramway Lt. & Power Co
Pino Bluff (Ark.)
106
Pueblo & Sub. Trac. & Light Co.—See
Pitcairn & Wilrnerding Street Ry.—See Mon-
110
Pueblo
Orleans-Kenner Electric Ry
-.144
Orleans RR.—See New Orleans Ry. & Light..
Orono Water Co.—See Bangor
83
Ry. & Elec. Co.
8
& Central Iowa Electric Co.
22
Railway
.140
140
—See United Traction
System
109
...
Owensboro City RR
Oxford Electric Co
Light Co.
110
Pittsburgh & Beaver Street Ry
Pittsburgh & Birmingham Traction
Pittsburgh
Pittsburgh & Birmingham Traction
Butler
&
& Power Co
Puget
116
Lighting—See
Arkansas
1_-116
Sound Traction, Light & Power Co—— 127
98
Harmony
Ouakertown Traction—See Leh .Val .Tran .Co
uebec-Jacques Cartier Elec.—See Quebec
110
.;
Pittsburgh & Birmingham Passenger Ry.—See
.121
&
Putnam & Westchester Traction Co
Pittsburgh & Beaver Lt. Co.—See Duquesne
44
.....
Traction
111
97
Light Co.—See Ottumwa
Arkan¬
Val. Ry., Lt. & Pow
Valley Ry., Lt. & Pow
Pittsburgh & Allegheny Valley Traction Co.—
97
Ottumwa Railway & Light Co.........
sas
Pittsburgh Allegheny & Manchester Traction.
See West Penn Traction..
Oskaloosa Trac. & Light Co.—See Des Moines
Ottawa Traction Co., Ltd
Co
ongahela Street Ry
acific
Gas
66
<
& Electric
Co.—See "Railway &
Quebec-Montmorency Ry.—See Quebec Ry.,
Light, Heat & Power Co., Ltd
109
.109
Consolidated
Quebec
113
...
140
140
Quebec Ry. Lt. Heat & Power
&
Saguenay
Ry.—See
Quebec
Ry.,
Light. Heat & Power Co
.140
Paducah Street Ry.—See Pad. Elec.
97
l^h^ah City Ry. Co.—SeeI'aducahEIec. Co. 97
T__ 1
T^'ucahElectricCo
Pan Handle Trac.
__
97
..113
Co
Kanawha Traction & Electric Co
97
Parkersburg (W.Va.) & Ohio Valley Elec.Ry._144
Park & Ocean RR.—See United
124
Dul.-Sup.
Parkside Elec. Ry.—See San
Parr
Shoals
Gas &
Power
42
Trac
Fran. Elec. Rys_124
Co.—See
Columbia
33
Pasadena & Mt. Lowe Ry.—See Pac. El. Ry__
66
Pascagoula Street Railway & Power Co
98
Passaic & Newark El. Tr.—See Cons. Trac. Co
77
Passaic Lighting Co.—See Paterson & Passaic
Gas &
Electric Co
Passaic Gas Light Co.—See Paterson & Pas¬
...
Light Co
-
69
.
See Pittsburgh Railways Co
107
Pitts. Harmony Butler & New Castle St. Ry__113
Pittsburgh
Incline Plane.—See Pittsburgh
Horse
Ry.
&
66
Carrying—See
23
Quincy Ry
Quincy
23
Railway
109
Pittsburgh Mars & Butler Ry
113
Rys. Co...
See West Penn. Railways Co
v
111
-.107
Pittsburgh Railways Co
Pittsburg Traction
Pittsburg
(Kan.)
110
—
-.106
(Mass.)
Electric
107
Berkshire Street Ry
Street
Rapid Transit St. Ry. of the City of Newark—
77
See Consol. Trac. Co
Reading & Lowell—See Eastern Massachusetts
Street Ry. Co.
—
11
—
—
Reading & Temple Electric Ry.—See Reading
118
Traction
Reading
118
Traction
Reading Transit & Light Co
118
—
chusetts Street Ry. Co
11
Reading & Womelsdorf.—See Reading Transit
West End Passenger Ry.—See
Pitts. & West Va. Gas Co.—See Phila. Co
144
Reading Wakef. & Lynn—See Eastern Massa¬
Ry. & Light Co.—See Jop¬
lin & Pittsburg Ry
Pittsburgh &
124
ailway & Lt. Securities (Boston)
Reading City Passenger Ry.—See Reading Tr.118
111
Pittsburgh McKeesport & Greensburg Ry.—
|>ailroad8 & Power Development Co
Raleigh St. Ry.—See Carolina Power & Lt.Co. 116
&
Pittsburgh McKeesport & ConnelLsville Ry.—
Plttsfield
76
(111.)
Pittsburgh Grafton & Mansfield Street Ry.—
Pittsburgh Railways Co..
76
....
•I
Pittsburgh County Ry.—See Choctaw Power
Pittsburg RR.(Kan.)—See Joplin & Pitts. Ry.106
Ry.,
Electric Co
saic Gas & Electric Co
Quincy
See West Penn.
Railroads of
Francisco
Park. Pt. Trac. Co.—See
Queens Ry. Co.—See New York & Qu. Go.Ry.
109
;
Birmingham Traction System
Parkersburg Marietta & Interurban Ry.—See
San
108
Pittsburgh & Charleroi Street Ry
&
industrial" Section
3
140
Ry. Lt. Ht. & Power.-
Pittsburgh Ganonsburg & Washington Ry
pacific Electric Ry
8
—144
144
115
49
—
78
—
&
Elec.Co.
94
Orange County Traction Co
Orange & Passaic Valley Ry
Oregon Electric Ry.....
Gas
.
Public Works Co.—See Bangor Ry. &
Piedmont Railway & Electric Co
Light & Trac—See N. Y. State Rys..] 19
78
—
Public Utilities Co.—See
Phoenixville Valley Forge & Strafford El. Ry_144
66
...
Public
Service Ry
104
.102
Philadelphia & Western Ry
Ontario & San Antonio Heights.—See Pacific
Railway <fc Light Co
Providence &
Isi. Co. 79
Public Service Investment
Oneonta & Mohawk Val. RR.—See Southern
Ottuniwa Traction &
79
—
3
Lehigh Valley Transit Co
Philadelphia Traction
Ottawa (Canada) Electric
Ry.—See
Street
Burrillville
Public Service Gas Co
Traction.—See
Philadelphia & West Chester Traction.-
Ontario
&
Rhode Island Co
82
_
Providence Securities Co.—See Rhode
Massachusetts
Philadelphia & Gray's Ferry Passenger Ry
Valley
Providence
Ry. Co.—See
Philadelphia & West Chester Traction——.102
Omnibus Cable Ry.—See United RRs.of S. F.124
Electric Ry
I
106
17
—
Providence & Daniel son Ry
Ry—105
1
Philadelphia & Garrottford St.
76
Prospect Park & Coney Island Ry
City Passenger Ry
.
125
-
Princeton Lt., Ht. & Pow. Co—
98
Philadelphia Bristol & Trenton Passenger Ry.
Philadelphia & Darby Ry.
46
Joaquin Light & Power Corporation
Presidio & Ferries RR—
—109
i
F—124
Light (California)—See San
Power Transit &
Federal
Oneida Railway Co.—See N. Y. State Rys
N. Y. Power & Railway
Powell Street Ry.—See United RRs. of S.
116
Ry.—See Pough. & Wappingers Falls Ry
Co.—See "Ry. & Ind." Sec.
Street
Passenger Ry.—See
& Pleasant Valley Ry.-.-
Street
Philadelphia
Wappinger Falls Elec.
23
& Peoria
Peoria Railway Co
Peoria Ry. Term.
116
Poughkeepsie & Wappingers Falls Ry
Poughkeepsie City &
St.
23
Louis Springfield
Perry
Pottsviile
49
—_
Ry.—See
144
Rys_.116
Union Traction.—See E. Penn. Rys.116
Pottsvllle& Reading Ry.—SeeE. Penn.
97
Ry. & Light Co
Omaha Lincoln & Beatrice
——-
Co——116
Wash.Ry. & E.133
Pottstown & Phoenixville Ry.
Ry.f G. & E. Co. 49
Springfield
Philadelphia & Lehigh
Ry.—See
Omaha & Council Bluffs Ry. & Bridge
&
61
Atlantic Shore Ry
Potomac Elec. Power Co.—See
Ry.,
Philadelphia Co. (Pittsburgh, Pa.)
96
Oley Valley Ry.—See Reading Tr. <fc Lt. Co_-118
Omaha <& Council Bluffs Ry. &
Lincoln
55
—
Ry.—See
Portsmouth (Ohio) Street RR. & Light
78
23
Union
—See Trenton Bristol & Phila. Street
St.
Rock City & Bradford Ry.—See West¬
New York &
Co.—See
61
144
New
Ry.-—See
St.
Exeter
Electric.
Hampshire
104
Springfield & Peoria
Electric
&
Gas
Peoria Light Co.—See Union
114
Oklahoma Electric Term. Co.—See Okla. Ry.
Old
See St. Louis
&
Portsmouth Kittery & York Street
12
Bloomington & Champaign Trac. Co.—
34
Ohio River Electric Railway & Power
Ohio Traction Co
100
Portsmouth
Ry.—See
Street
York
Atlantic Shore Ry
People's Tramway Co.—See Connecticut Co.-
Peoria
140
Limited
&
Portsmouth Electric Ry
Wilm.
Massachusetts Street Ry. Co_
See Eastern
Dover
Portsmouth
People's Street Ry. (West Newbury. Mass.);—
31
Ry
Ohio Electric Railway....
Ohio Service Co.
Del.—See
& Phila. Traction Co
Gas & Electric Co.———
Ohio Central Traction—See Cleveland South¬
western & Columbus
Porto Rico Rys. Co.,
100
101
Wilmington,
-.-115
78
Port.RR114
Portland & Yarmouth Elec. Ry.—See
-104
—
People's Ry. (Dayton, O.)
Peoria
Utah-Idaho
Co.—See
RR
Ogdensburg Street Ry
People's Passenger Railway
Power.—See
&
Portland (Conn.) St. Ry.—See Conn. Co
43
Pennsylvania Ry
People's Traction (Philadelphia, Pa.)
Utah-Idaho
RR...
Rapid
Ogden
38
RR.—See
western
Lighting
Portland Ry., Light & Power Co
Peoples' Incandescent Light Co.—See North¬
People's Street Ry.—See Scranton Ry
Fran.-Oak.
San
51
Co
See United Light & Railways
People's liy.,
Fran.-Oak.
San
Co.—See
People's Gas & Electric Co. (Mason City).—
People's RIi.—See New York State Railways.119
Fran .-Oak.
San
Cons.—See
Trac.
Terminal
19
Burlington Railway & Light Co
96
Portland
Railway, Light & Power Co
78
.T. L"—
Industrial" Sec.
Portland General Electric Co.—See
98
People's Gas & Electric Co. (Burlington).—See
»*
114
Ry.—See Southern
Pacific Co. in "Railway &
Pensa-
County
—
Portland Eugene & Eastern
-—
Electric Co
41
,--114
Ry.—See Portland RR.114
Portland (Me.) Elec. Co.—See Cumb.
6
98
Qaj4agd_Anti°cb & Eastern—See San Fran-^
Ry.—See
Detroit & Port Huron Shore Line.-———
(Pittsburgh).—See
.110
Penn Yan & Lake Shore Railway-
cola
140
Power Co.- 50
Port Huron St. Clair & Marine City
Industrial" Section.
Pennsylvania & Ohio Railway
Pensacola Electric Co
Co.!
Power
Poland St. Ry.—See
Pontiac Light Co.—See Consumer
Port Jervis Traction Co
.—-.144
Norwood Canton & Sharon Street Ry
Nova
—
Pensacola Electric Terminal Ry.—See
Norwich & Westerly Traction Go.—See Shore
135
144
Republic Ry. & Lt. Co.- 88
Plymouth & Sandwich Street Ry
Portland & Cape Eliz.
Citizens'Traction..
&
Wyoming Valley Traction
Pennsylvania Utilities Co.—See "Railway and
Penn Street Passenger Ry.
Norwalk Gas & Electric Co.—See Cleveland &
Wilkesbarre
Co.—See
Bridge
Plymouth
88
94
88
Pennsylvania-Ohio Elec. Co
Northwestern Ohio Ry. & Power Co
Plattsburg Traction Co
Ponce Electric Co
Light Co
43
77
113
Plainfield St. Ry.—See Public Service Ry
Pennsylvania & Mahoning Valley Traction Co.
Northwestern Elevated (Chicago)
76
Union & Middlesex Lighting
-
Northwestern Electric Serv. Co. of Penna——
—135
Electric Co.—See Somerset
Plainfield Gas &
78
United Trac. & Elec. 82
Railroad
—See Republic Ry. &
Wyo¬
ming Valley Traction System
98
Pel ham Park & City Island
87
Pelham Park Railway
---144
Peninsular Railway
125
Pennsylvania Light & Power
111
Penn Motor Co.—See Easton Cons. Elec. Co_
4
Peekskill Lighting &
-100
Ry. Co—
Pittston Street Car.—See Wilkesbarre &
Public Service Ry— 77
Traction Co
Pawtucket St. Ry.—See
2
Northern 8tates Power Co.—Fargo
head
Paterson & State Line
Ohio
Traction & Light Co
.
Paterson Railway.—See
2
Corporation
Northern Ohio Trac. & Light Co
Northern Ohio Traction—See Northern
Scranton
Pittaton & Scranton Street Ry.—See
& Term. 64
City Ry.—See Public Service Ry
77
& Paasaic Gas & Electric Co
76
Passenger & Belt Ry.—See Ky. Trac.
South
Northern Massachusetts Street Ry
Page.
Page.
Page.
Northern
[Vol. 110.
INDEX TO RAILWAYS
J 50
106
&
Light Co
Redlands Central Ry.—See Pac. Elec. Ry
Redlands St. Ry.—See Pac.
Ry.—See
82'
.118
-
Reno
(Nev.) Traction Co.
Elec. Ry.—-
-
66
66
144
151
INDEX TO RAILWA YS
Ape., 1920.J
Page.
Page.
Paoe.
Republic Ry. & Light Co
88
San Antonio Public Service Co
Rhode Island Co
79
San
Rhode Island Suburban Ry
82
—.—
Richland Public Service Co
Light,
&
Heat
Pac.
Elec. Ry
66
123
San Diego & Southeastern Ry
144
Sandusky Norwalk & Mansfield Electric Ry—
88
-------
'.
Richmond Light & RR. Co
129
Richmond Ry. & Elec.—See Va. Ry. & Power-119
Sandusky Fremont & Southern Ry__
32
41
Sanford
&
Shore
Ry.—See Atlantic
Cape Porpoise
144
Richmond & Seven Pines Ry
144
San Francisco Electric Railways
Ridge Avenue Passenger Ry_
104
San Fran. Napa &
76
Ridgewood Gas Co
Rio de Janeiro Tramway Light &
Power.-—-142
66
San
Riverside Traction.
78
San
Rochester
Charlotte
-101
Rochester & Manitou R R
120
---119
—
Rochester-Corning-Elmira Traction Co.--
144
Rochester Elec. Ry.—SeeN. Y. State Rys.
119
Rochester & Manitou RR
---120
—
Francisco-Sacramento
Francisco
San
&
95
RR.
Electric—See
United RR. of San Francisco
San Joaquin Light & Power
96
...
Mateo
;
8an
Jose-Los
Gatos
Interurban
46
-
Ry.—See
RochesterLockport & Buffalo Ry...
120
126
Clara
& Santa
RR.—See
San Jose
RRs
Terminal
Ry.—See San Fran.-Oak.
95
8an Jose Terminal Ry_
Rochester Ry.—See N. Y. State Rys
San
---119
Rys
Rochester & Suburban Ry.—See N. Y. State
119
-
Rochester Syracuse & Eastern RR.—See Em¬
pire State Railroad Corporation
130
—130
Rockford Beloit & Janesville RR.—See Union
49
Rockford City Traction Co.
144
49
Rockford & Interurban Ry.—See Union Rail¬
Gas & Electric Co
49
-
72
Southern
&
Railway—See
Abington
Miss.
120
Street
Eastern Massachusetts Street
—See Knox
11
Street
Ry.
.
-120
Rockport Street Ry.—-See Eastern Massachu¬
setts Street
Rockville
11
Brook
&
East
Windsor
3
---126
135
West Missouri RR
—135
South West Missouri Railroad
(Zanesville, Ohio)
144
Southern Boulevard RR.—See Union Ry
87
Southern Canada Power Co.—See Sherbrooke
141
Ry.—See Un. Rys. of St. L—121
Ry. & Power Co—Southern
quesne
Lt.
Ht.,
—:
&
Co.—See
Power
6
& Power Co
Savannah Thunderbolt & Isle of Hope Ry.—
110
120
Electric
&
Lehigh
Co.—See
Rohrerstown Landisville & Mt. Joy Ry.—See
Southern
—
144
„
Light & Traction Co. (Natchez)—See
Southern Railway & Light
Michigan
74
Co.—.
128
Ry__
Southern New York Power & Railway Co
Ohio
Southern
&
36
Cincinnati
Traction.—See
&
35
Dayton Traction——
Oregon Traction Co.—
144
Co
101
Utilities Co
Southern Public
Southern Railway &
Street
24
74
Light Co
Ry
Schuylkill Haven & Orwlgsburg St. Ry.—See
26
-—
Southern Traction Co. (Bowling Green, Ky.).144
Ry
Traction
(Dallas).—See Texas El.
37
— —
—
Traction Co. of Illinois.
Southern
..144
Southern Traction—See Pittsburgh
Rys.....107
Southern Traction & Power Co.
3
—
Southwestern Interurban
144
Ry
144
Southwestern St. Ry.—See Phila. Rys.
Go__.107
116
Schuylkill Ry. Co.-
—
-
Southwestern
(Tex.) Traction Co—________131
48
-
Southwestern
Traction—See London
48
&
Lake
Co
Erie Ry. & Transportation
139
Schuylkill Valley Traction
118
35
Spokane Terminal Co.—See Spokane & Inland
9
Spokane Traction Co.—See Spokane & Inland
Scranton & Binghamton RR.—See Scranton &
9
ton &
Lancaster County Ry. & Light Co.
63
121
9
Scranton Dunmore & Mo. Tk.—See Scranton
—————— —
-
128
———
144
—
Consolidated Railway—See
(111.)
Springfield
128
———128
—
Empire Ry.
Springfield & Central Illinois
Binghamton RR
Ry——
1—
Spokane & Inland Empire Ry
Empire Ry
Ry.
Scranton & Binghamton Ry
Scranton & Oarb. Trac.—See Scranton Ry—100
Railway & Light Co.—
70
tral Illinois Public Service Co—
Southern
126
Ry—
Gas
Du-
Light Co
Southern
Scranton & Binghamton Trac. Co.—See Scran¬
St.
Ry.—See Hartford & Springfield St. Ry_.-I31
Rome (Ga.)
Saratoga Traction—See Hudson Valley Ry_.
Bingham ton
Ry. Co
Broad
111
—
South West Missouri Electric Ry.—See South
Southern Pennsylvania Traction
Schuylkill
29
Scioto Valley Traction Co.
Ry. Co
County Electric Co
—--—144
South Side Elevated RR., Chicago
144
Schuylkill Traction (Girardville, Pa.)
Railway—See
Rockland Thomaston & Camden
12
Traction Co
South Shore (L. I.)
Southern
Schenectady
78
St. Ry.—See Eastern
Boston
142
—
.144
—
Massachusetts Street Ry. Co.
142
Savannah Electric Co
-
Traction
144
Power Co,
East. Penn. Rys
Valley Ry. & Power Co
Rockland
South Orange & Maplewood
Sao Paulo Tramway, Light &
Power Securities Corporation
burg & Western RR
Island
76
-
South Morgantown (W. Va.) Trac. Co.
Santiago (Cuba) Elec. Light & Traction Co
Schuylkill Electric Ry.—See East. Penn. Rys. 116
Rock Island Southern Railroad—See Gales-
Rock
96
See Savannah Electric Co
Freeport Electric Ry.—See Union
Railway, Gas & Electric Co.
way,
RR
Savannah River Power Co.—See Georgia Ry.
Railway, Gas & Electric Co..
Rockford &
36
85
South Jersey Gas, Electric & Traction
Southern
Sapulpa (Okla.) & Inter. Ry__
.
Rochester & Syracuse RR__
...
South Ferry—See Broadway & Seventh Ave—
Sao Paulo Electric Co., Ltd...
--—-119
—
144
Valley RR.—See San Francisco-
Sacramento
Rochester & Sodus Bay Ry.—See N. Y. State
Rys
Ramon
Cin¬
Ry.—See
Southern Illinois & St. Louis Ry_
Rys
Rochester Ry. & Light—See N. Y. State Rys_119
St.
Southern Illinois Ry. & Power Co.—See Cen¬
126
San Jose Short Line
Gin.
&
Covington
.128
cinnati Newport & Covington Ry.—
Southern Elec.
125
San Jose Railroads.
San Jose
South
Southeastern Ohio Ry.
124
..
Corporation
26
Light, Power & Ry
South Side Gas Co
95
Peninsular Ry
Rochester City & Brighton—See N. Y. State
Rys
126
—
SanJo6e & Alum Rock Ry.—See San Jose RRs 126
RR.—See
Manitou
&
—124
Calistoga Ry
14
South Chicago City Ry.—See Cal. &So.Ch.Ry.
South Shore &
61
—
See San Fran.-Oakland Term. Rys
Riverside & Arlington Ry.—See Pac. Elec. Ry.
Roanoke Ry. & Electric—See Roan. Tr.&Lt—101
-----
San Francisco-Oakland Term. Rys
3
Roanoke Traction & Light Co
Ry
San Francisco Oakland & San Jose Cons. Ry—
RIttersville Hotel Co.—See Leh. Val. Tran.Co.
-
95
Sandwich Windsor & Amherstberg Ry
Richmond l& Rappahannock River Ry
South Brooklyn Ry.—See Brooklyn Rap. Tr.
South Carolina
San Diego Electric Ry
Co.—See
United Gas & Electric Co
Co.—See
93
—
Power
Valley Trac.
Bernardino
93
Richland Co.—See Richland P. S. Co
Richmond
123
49
Electric—
Union Railway, Gas &
Springfield & East. St. Ry.—-See Springfield
100
136
Railway
Street
Roxborough Chestnut Hill & Norristown Ry.118
Scranton & PIttston Tr.—See Scranton Ry
100
Rutland City Elec. Co.—See Rutland Ry., Lt.
& Power Co
----121
Scranton & Wilkes-Barre Traction
126
Springfield Electric Ry. (Vermont)-Springfield Light, Heat & Power Co
Scranton
100
Springfield & Northeastern Traction Co.—See
Rutland Railway, Light & Power,.
8ea Beach Ry.—See N. Y. Consol. RR
-----
Rutland St. Ry
.
__121
.-j-See Rutland Ry.. Lt. & P. Co. 121
Ry
16
Sea Coast Traction—See Atlantic Coast Elec._
5
Seashore Electric Ry., Asbury Park—See At¬
Cacramento Northern RR
acramento
Oakland
1
125
...
Short Line Ry.-—See San Fran.-
Terminal
95
144
Saginaw-Bay City Railway
City
Valley
50
...
Traction—See
.....
50
.
121
St. Charles Street RR.—See New Orl.Rys.Co.
St. Francois County Electric.
St. John
St.
(N. B.)
83
-..144
Ry__
—144
Johnsbury Elec. Co.—See Twin States Gas
&ElectricCo
—
St. Joseph Ry.. Light. Heat & Power (.Mo.)-St. Louis & Belleville Elec. Ry..
Trac.
Co.—See
Puget Sound
Traction, Light & Power
93
144
4
St. Louis Decatur & Champ. Ry.—See Bloom-
Sea View RR
—
_
21
(New York)
—
86
104
Sedalia Lt. & Trac. Co.—See City Lt. & Tr.Co.
Traction Co.
-127
:
_110
...
127
Shamokin & Mt. Carmel Transit Co
Sharon Canton & Norwood Street Ry,
23
Sharon & Newcastle Rys.—See
23
& Light
-..144
—...
88
—
Shawnee-Tecumseh Traction Co
St.L.& Mer.River RR.—See United Rys.Co. 121
Sheboygan Gas Light Co.—See Wise. Sec. Co.
St. Louis & Northeastern Ry.—See St. Louis
Sheboygan
—
St. Louis & St. Charles Bridge Co
St. Louis
St.
Charles
&
Missouri Electric RR
St. Louis &
field &
23
,
121
._
122
,
Western
RR.—See
Co.—See
Electric
Spring. Ry.—See St. Louis Spring¬
Eastern
Shelburne Falls & Colvain St. Ry
Sherbrooke (Que.)
—...
Shore Line Electric Ry.
(Connecticut)
Shreveport Railways Co
St. Louis Transit—See United Rys.-
Sierra & San Francisco Power Co.
121
St. Paul Southern Electric Ry
72
144
St. Tammany & New Orleans Rys. & Ferry Co.144
Salem & Pennsgrove Traction Co
&
Wakefield—See
setts Street
Salisbury
&
Spencer
Lake
North
54
-------
—
Terminal
Co—See
RR_,
San Antonio Gas &
Salt
Lake
—
&
Electric—See San Antonio
Public Service Co
...123
Electric
RR
-
Traction—See
—
Sioux City
124
127
—
—
86
98
3
Snyder Ave. St. Ry.—See Phila. Rap. Tran__102
Co.—See
Stoinway Ry.—See N. Y. & Queens Co. Ry._
76
Co....
76
Somerville Horse RR.—See West End St. Ry-
11
Bend
Southern
&
South.
Michigan
Bethlehem
66
41
thern Utilities Co
Valley Trac
42
Steubenville Mingo & Ohio Valley Traction-
Steub. East Liverp. & Beav.
Steubenville
Wheeling
&
Stillwater
Traction—
Traction
113
Co.—See
—113
& Meehanicville—See Hudson Val.
Wheeling Traction
Ry
....
3
—
Stockton
Electric RR.
130
—
Securities
144
3
Corp
Suburban Rapid
Transit Co. (Winnipeg)—See
Winnipeg Electric Railway
Michigan
128
Lehigh Valley Transit Co
Light
Suffolk Traction Co..
Sunbury & Susquehanna Ry__—
Susquehanna
Ry.,
Sutro RR.—See United
Sutter St.Ry.—See
&
Lt.
United Gas & Electric
Sydney
&
Power
Corp
I-.;
144
Co.—See
88
-
RR. of San Francisco., 124
United RR.of San Francisco 124
Glace Bay
Ry .Co.—See
—.130
Cape
Breton Electric Co.
Syracuse Lake
98
98
Shore &
141
Nor. RR.—See Em¬
pire State Railroad Corporation
Ry.—See
Ry..
Electric
.v--«—---143
St. Ry., Pittsburgh, Pa. 110
Swansea & Seekonk Street Ry..--
Somerset Union
& Middlesex Lighting Co
South
129
Suffolk Traction Co——
Ser.
Slate Belt Electric Street Ry—
Lighting
4
—
Staten Island Midland Ry
Suburban Rap. Tran.
Somerset
78
Standard Gas & Elec. Co.—See "Ry. & Ind." Sect.
Stark
Suffolk Syndicate—See
South
123
San Antonio Traction—See San Antonio Public
Service Co—
.—
Somerset Union & Middlesex Lighting
.123
Stamford Street RR.—-See Connecticut Co.._
Stroudsburg El. L. & P.—See Lehigh Power
127
Slatington St. Ry.—See Lehigh Valley Tran._
Car.
129
Connecticut Co— 78
Springfield & Xenia Railway
Stafford Spgs. St. Ry.—See
76
127
Co..
129
Term. Ry. <fc Power Co
Sioux City Service Co
City
88
——
.
Springfield Troy & Piqua Ry—See Springfield
Sioux City Crystal Lake & Home Elec. Ry—144
Sioux
Springfield
Traction—See
Stockton Terminal & Eastern RR—
95
_
Sixth Avenue RR
Ry.—See Bamberger El. RR.123
i
123
Salt Lake & Utah
Utah
Massachu¬
11
Ry.—See
Public Service Co
Salt Lake & Og.
Salt
98
Eastern
Railway Co
J 41
Shore Line Electric RR
23
Sti Paul CityiRy.—See Twin City Rap. Tran_
..136
—
83
Lighting Co
23
—
(Mo.)
Railway & Light Co
See Steubenville & Wheeling
144
Railway & Power—
St. Louis & Suburban Ry.—See United Rys. Co, 121
Salem
52
Wis¬
—127
Electric Co
Sheboygan Ry. & Elec.—See East. W. E. Co.. 127
Shore
Peoria
St,. Louis Springfield & Peoria RR
__127
•_
Shenandoah Traction Co——144
122
—
consin
.——
—
Sterling Gas & Electric Co.—See Illinois Nor¬
Republic Rail¬
St. Louis Lakewood & Grant Park Elec. Ry.,144
St. Louis RR.—See United Rys. Co__
92
Seventeenth & Nineteenth Streets Pass. Ry_.104
St. Louis East Side Belt Line Terminal Ry_._144
-
88
Ry.—-See New Eng¬
St.
(Mass.)
Springfield
___|——
St. Louis Elec. Bridge Co
Peoria
Springfield
Springfield (O.) Terminal Ry, & Power Co... 129
82
St. Louis Elec. Terminal Ry. Co.-——
Springfield &
136
—127
Second Avenue Traction—-See United Traction 109
way
49
New
Companies.—See
Railway
land Invest. Sec. Co.
——
———
Second Avenue RR.
Seventeenth St. Incline Plane Co
ington Decatur & Champaign
& Electric.———
Union Railway, Gas
England Invest. Sec. Co..
—127
& Power..-.
Seattle & Rainier Valley Ry.
Selma
-100
Springfield (Mo.) Railway & Light Co
..127
.
Second & Third Streets Passenger Ry
13
-
...
Seattle-Everett
50
23
— —
Railway & Light Co.—See
(111.)
Springfield
—r—127
Seattle Ry.—See Puget Sound Traction, Light
Saginaw-Bay
Railway...
St. Albans & Swanton Trac. Co..
5
...
Light & Power
Springfield & Peoria.
Springfield (Ohio) Railway———
Springfield
Seattle Electric Co.—See Puget Sound Trac.,
Rys
Sacramento Valley Electric RR..
Saginaw
lantic Coast Electric Ry
St. Louis
129
Syracuse Northern Elec. Ry
—.130
130
Syracuse Rap. Tran. Ry.—SeeN.Y.State Rys.119
Co.—See
4
Syracuse & Suburban RR
131
Ky. Co.—See Iowa Ry. A Lt 19
Electric Co__
131
Tamaqua & Pottsville Electric RR.—See East.
Penn.
Rys._.
116
County Traction Co.—See Northern
Brockton
Street
setts Street
Ry. Co.
Avenue Railroad.—See
of St.
United
Power
United Electric Co. of N. J
Gas
Co.—See
Elec.
A
United Rys. A
99
105
United St. Ry. of Cent. N.
7
Francisco).. 124
121
J.—See Pub. Ser.
Railway
United Traction (Albany)
United Trac. A Elec
United Traction (Pittsburgh)
United Traction (Reading, Pa.)—See
Terre Haute Traction & Light Co
57
Terre Haute & Western Ry. Co.—See Terre
Haute Traction A Light
57
Texas Traction Co.—See Texas Electric Ry- 36
Texas Electric
Rail way
Third Avenue
Ry.
(N.
_
37
86
.
....
Y.)
Thirteenth A Fifteenth Streets Passenger Ry_104
86
Thirty-fourth Street Crosstown Ry
Tidewater Power Co
Tidewater Southern
135
:
130
..144
Railway
Tiffin Fostoria A Eastern Ry._
Tltusville Traction Co
144
Transit
United
77
2
-
57
...
82
109
Reading
118
A Light Co
Traction
RR.
St.
Co.—See
Du
Bois
42
Elec. A Trac. Co
& Northern
Indiana Columbus & Eastern
Urbana
Bellefontaine
Urbana A Champaign Ry. Gas
Urbana Lt., Heat A Power Co
Ry.—See
Utlca Belt Line Street RR.—See N. Y. State
Utlca
Coke Co.—See Toledo
'
Traction, Light & Power Co
93
Toledo
Gas
Light
A
Toledo & Indiana Railroad
Toledo
131
....
Toledo & Indiana Traction
& Indiana RR. Co......
Co.—See Toledo
Light Co.—See Toledo Trac¬
tion, Light & Power Co
93
Toledo & Maumee.—See Tol. Trac.. L. & P.
Co
93
Toledo Ottawa Beach A Nor. Ry
93
Toledo Port Clinton & Lakeside Ry. Co.—See
Northwestern Ohio Ry. A Power Co
114
Toledo
Railways A Light Co.—See Toledo
Traction, Light A Power Co
93
Toledo Traction, Light & Power
93
Tol. A Western Ry.—See Tol. T., L. A P. Co. 93
Tonawanda Electric RR.—See Internat. Trac. 18
-
—-
-
Tonawanda St. RR.—See International Trac.
13
Id Transit Co...
Trans-St. Mary's Traction Co
144
Trappe & Limerick Electric
118
A Philadelphia Street Ry—.105
Trenton City Bridge Co.—See New Jersey A
Pennsylvania Traction Co..
—132
Trenton Gas & Elect.—See So. Jersey Gas.
Trenton Bristol
76
...
Trenton Ham. A Ewing—See Trenton St. Ry.l32
Trenton & New Brunswick RR.—See Eliza¬
beth
A Trenton RR
78
Trenton Lakewood A Seacoast
Ry....
144
Trenton A Mercer Co. Trac. Corp
132
Trenton Pennington A Hopewell Street Ry.—•
See Trenton Street Ry..
132
Trenton
(N. J.) Street Ry
132
Tri-City Ry.—See Tri-City Ry. A Lt. Co
51
Tri-City Railway A Light Co...
51
Trinidad (Port of Spain) El. Co., Ltd
.144
Trinidad Elec. Transm. Ry. & Gas
88
Troy City Ry.—See United Trac. (Albany)
2
Troy Hill Pass. Ry.—See Fed. St. A P. Valley
P. By
109
Troy & New England Ry
132
Tucson Rap. Tr.—See Fed. Lt. & Trac..
87
Tuscaloosa Railway & Utilities Co
132
.....
Tuscarawas
Trac.
Co.—SeeOan.-Ak.
Cons.
Ry
2
Twenty-Second St. & All. Ave. Pass. Ry
State
Y.
N.
Rys..,
119
Utilities Oil A Refining Co
tJxbridge & BJackstone St.
England Invest. & Sec. Co
91
Ry.—See
New
...136
\Talley Electric Co.—See Duquesne Light Co.110
'
alley Railways
55
Valley Street Ry.—See Rep. Ry. A Lt
88
ValleyTractlon Co.—See Valley Railways
55
Valparaiso A Northern Ry.—See Gary A Val¬
paraiso RR.,
48
Van Brunt Street A Erie Basin RR
17
Vermont Company—See Berkeshire St. Ry... 83
Vermont Power A Lighting Co.—See Montpelier A Barre Light A Power Co
8
Vlcksburg Light A Traction Co
132
Vincennes Citizens St. Ry.—See Vin. Trac
132
103
132
132
Vincennes Traction Co
Vincennes Trac. A Lt. Co.—See Vin. Trac
Virginia Passenger A Power Co.—See Virginia
Railway A Power
119
119
Virginia Railway & Power.
|47abash River Traction Co.—See Ft. Wayne
Indiana Traction Co
45
St. Ry—See Eastern
A Northern
18
Topeka Edison Co.—See Topeka Ry. A Lt.Co, 24
Topeka Railway
:.
24
Topeka Railway A Light Co..
24
Toronto Elec. Lt.—See Toronto Power Co—141
Toronto (Canada) Railway
.141
Toronto Power Co
141
Toronto A York Radial Ry.—See Toronto Ry.
(Canada)
141
Torrington A Win. St. Ry.—See Conn. Co— 78
Transit Development Co.—See Brooklyn Rap-
Traction
119
Ry.—See
—— -
131
Heat A
Electric A
Rys
Valley
Wakefield & Stoneham
Massachusetts Ry. Co
Walden A Orange Lake.—See Orange
Traction
11
County
...
Walk 111 Transit Co
Warren A Jamestown St. Ry.
Alexandria
Wash.
94
70
133
Vernon
Mt.
A
Ry.—See
Washington-Virginia Ry
134
Arlington A Falls Church Ry.—See
Washington-Virginia Ry.
134
Washington Baltimore A Annapolis Electric
Wash.
134
RR
Washington A Canonsburg Railway Co
Washington Electric Ry
(D. C.)
Interurban
Washington Ry. A Electric
Washington
108
144
133
Washington a Great Fails Ry. A Power Co
144
Washington A Maryland Ry
133
Washington A Old Dominion
134
Wash. A Rock. Ry.—See Wash. Ry. A Elec.. 133
Washington Railway A Electric Co.
133
Washington Spa Springs A Gretta RR
144
Washington Utilities Co
134
Wash.-Virginia Ry. Co
...134
Washington Water Power, Spokane
128
Washington Westminster A Gettysburg RR
144
Wash. Woodside A Forest Glen Ry. A Power
Co.—See Washington Railway A Electric.. 133
Water bury Light A Pow. Co.—See Montpeller
A Barre Light & Power Co.
8
Waterloo Cedar Falls A Northern Railway.. 134
Watertown Gas A Electric Co.—See Wise. Gas
A
...
71
Electric Co
Waterville Fairfield A Oakland Ry
135
Waterville A Oakland St. Ry.—See Waterville
Fairfield A Oakland Ry..
....135
Watervliet Turnpike A
Traction (Albany)
Railroad.—See United
Twenty-eighth & Twenty-ninth Streets Crosstown RR. (N. Y.)—See Mid-Crosstown Ry. 87
Twenty-third Ave. El. Ry.—See San Fran.Oakland Term. Ry
95
Twenty-third Street Ry
86
Twin City Light & Traction Co
144
Twin City Rapid Transit
72
Twin Falls (Idaho) Ry
144
2
Rockford A Elgin Traction
144
Waverly Sayre & Athens Trac. Co
\
144
W ay cross (Ga.) Street A Suburban Ry
.144 i
Webb City Northern Electric Ry.—See South¬
Twin State Gas & Electric Co
Weehawken Contracting Co
Westchester Electric.—See Union Ry., N. Y__
West Chester Kennett A Wilmington Elec. Ry.
flnlon Consolidated
•-'nion
Depot
RR.
144
Elevated Ry., Chicago..
(St.
Louis,
Missouri
Webster
&
135
RR
Dudley.—See
New
England
29
Mo.)—See
A
135
56
135
Wilkinsburg A East Pittsburgh St. Ry.—See
Monongahela Street Ry. Co
110
Wilkinsburg
A
Verona
Street
Ry.—See
Monongahela Street Ry. Co
110
Willamette Falls Electric Ry.—See Portland
1 Ry.,
Light A Power
115
Willamette Valley Southern Ry.—See Port¬
land Railway. Light A Power
115
Williamsport Gas Co,—See
Lehigh
Power
Securities Corporation
3
Willapa Electric Co
144
Wiliimantic Traction Co.—See Conn. Co
78
Wilmington (Del.) City Ry.—See Wilmington
A Chester Traction
101
Wilmington City Electric Co
lOl
Wilmington A Chester Traction Co
101
Wilmington A Edgemore—See Wilm. A Ches¬
ter Traction—
101
Wilmington Newcastle A Delaware City—See
Wilmington A Philadelphia Traction Co
101
Wilmington A Philadelphia Traction
101
Wilmington Southern Traction Co.—See Wil¬
mington A Philadelphia Traction Co
101
Winchester Ave. Ry.—See Conn. Co
78
Windsor Locks Traction Co.—See Hartford
A Springfield Street Ry
131
Windsor A Tecum. Elec. Ry.—See San. Win.
I A Amh. Ry
41
Winnipeg Electric Ry
142
Winnipeg Selkirk A Lake Winnipeg Ry.
See
Winnipeg Electric Ry
142
Winnipeg Electric Street Ry.—See Winnipeg
Electric Railway
142
Winnisimmet RR
12
Winona (Minn.) Ry. A Light Co.—See Wis¬
consin Ry., Light A Power Co
62
..
—
Winona
133
Interurban
Winona A Warsaw Ry.—See Winona Inter.. 133
Winston-Salem Power Co.—Se3 So. Pub. Utili¬
ties Co
24
Wisconsin Edison Co..
Electric
Wisconsin
Electric
71
—.
Ry.—See
Wis¬
Eastern
127
71
Co
Wisconsin Gas A Electric
Wisconsin Interurban Ry
144
Wisconsin-Minnesota Light A Power Co—— 63
Wisconsin Public Service Co
52
.....
Wisconsin Railway, Light A Power Co
Wisconsin Securities Co
Wisconsin Traction Light Heat A Power
...
Wisconsin Valley Electric Co
Woburn A Reading—See Eastern Massachu¬
setts Ry. Co
Worcester A Blackstone Valley St. Ry.—See
62
52
72
135
11
136
New England Invest A Sec. Co
Worcester A Clinton St. Ry.—See New
Invest. A Sec. Co
Eng.
—136
Shore Line
95
"Worcester Consolidated Street Ry.—See New
Eng. Invest. A Sec. Co
136
Worcester A Holden St. Ry.—See New Eng.
Invest. A Sec. Co
136
Worcester A
Marlborough Street Ry.—See
New Eng. Invest. A Sec. Co
136
Worcester A Southbridge St. Ry.—See New
Eng. Invest. A Sec. Co__
136
Worcester A Webster Street Ry.—See New
Eng. Invest. A Sec. Co
136
Woronoco St. Ry.—See New Eng. Invest. A
Sec. Co
--.136
Wyandotte A Detroit River Ry.—See Detroit
United
Railway
40
Worcester A Conn. East. Ry.—See
Electric
i
•
_
...
.117
Yadkin River Power Co
West Chester Street Ry
County Power Co.—See Cumberland
County Power A Light Co
114
York Lt. A Ht. Co.—See Cumberland County
83
End
36
29
104
49
87
Passenger
Ry.—See Frankford A
Southwark Phila. City Passenger Ry
.103
West End Rapid Transit Co.—See Cincinnati
West End Street Ry. (Boston)
J1
West End St. Ry.—See Lane. Co. Ry.
Invest. A Sec. Co
136
.
4
onkers
Western New York A Pennsylvania Trac. Co.
Union Ry.—See Wilmington & Chester Trac__101
Union Street Ry. (New Bedford, Mass.)...
78
Westernport A Lonaconing—See
Westernport Electric Ry
92
Union Traction Co. (Coffeyville, Kan.)
33
Union Traction Co. (Nashville, Tenn.)
74
Union Trac. Co.—See Coast Counties G.AEL126
Union Traction Co. of Indiana...
5
Western
Union Traction (Philadelpnla, Pa.)
West India Electric Co
public Ry. A Light Co
A Southern
Youngstown
town A Suburban
103
Ohio
Railroad
64
Railway.—See West. Ohio RR__ 64
Railways A Light Co.—See Illinois
Traction Co
88
Ry.—See
Youngi137
137
Ry
Youngstown A Suburban Ry
Ypsilantl A Saline Ry.—See
Det.
Jack.
A
41
Chic
A
Western Ohio
Western
87
'
Power A Light Co
114
Railways
137
Youngs town A Ohio River RR
64
Youngstown Park A Falls Street Ry.—See
Republic Ry. A Light Co
88
Youngstown-Sharon Ry. A Light —See Re¬
96
Cumb.
RR
York
York
Laurenceburg A Aurora Electric Street Ry._ 30
;
11
A Lt
63
West
End
Traction.
Pittsburgh, Pa.—See
Pittsburgh Railways Co
107
Western Mass. Street Ry.—See New Eng.
90
Union Gas Co. (McKeesport)—SeePhila. Co. 106
Union
Light, Heat & Power Co.—See Cin¬
135
Wyoming Valley Traction
Wiikes-Barre Railways Co
Wilkes-Barre Terminal RR
Wilkes-Barre A Wyoming Valley Traction
87
61
135
Union ©as A Electric
Newport & Covington
—
134
75
West
cinnati
56
55
Hazleton Railway
In¬
vest. A Sec. Co
United Railways Co
121
Union Electric Co.—See Dubuque Elec. Co./;. 42
Union Elev. RR.—See Northwestern Elev
29
Union Loop—See Union Elevated RR...
Union Passenger Railway
Union Ry., Gas & Elec
Union Ry. of New York
24
Westchester Street RR
13
Tyler City Light & Ry
W auk eg an
west
—111
...
Wilkes-Barre A Suburban—See Wilkes-Barre
consin
Ry.—See
Washington A Glen Echo RR.—See Washing¬
ton Railway A Electric
133
...
tion...
Wichita RR. A Light
Wichita-Walnut Valley Interurban Ry._
144
Wilkes-Barre Co.—See United Gas A Elec— 90
Wllkes-Barre Dallas A Harvey's Lake Ry—.135
Wiikes-Barre Gas A Elec. Co.—See United Gas
A Electric
88
...
123
...122
;
Light
Mohawk
Virginia Traction A Electric Co
117
RR.—See Elmira Wkt.,Lt.ARR43
Wheeling A Elm Grove RR.—See West Vir¬
ginia Traction A Electric Co
—117
Wheeling (W. Va.) Traction Co
111
Wheeling A Western Ry.—See Wheel. Trac¬
West Water St.
22
Power
93
Toledo & FIndlay St. Ry.—See Toledo [Bowl¬
ing Green & Southern.
131
Toledo Fostoria & Find]ay.
131
Toledo Fremont A Norwalk Street Ry.—See
Lake Shore Electric
32
Toledo Gas Elec. A Heat. Co.—See Toledo
Trac. Lt. A Pow. Co
93,
A
43
RR
West
Wilkes-Barre A Hazleton RR
22
123
...
Toledo Bowling Green A Southern Traction..131
Tol. Fayette & Western.—See Toledo Trac.,
Light &
113
Wllkes-Barre A
Utah-Idaho Central RR
Utah Light A Ry. Co.—See Utah Lt. A Trac..123
Utah Power A
Ry
34
A Elec. Co
Utah Light A Traction
107
109
40
_
Railways Co
111
West Penn Traction A Water Power Co
111
West Philadelphia Passenger Railway
—101
West Roxbury A Roslindale Street Ry.—See
Eastern Massachusetts Street Ry. Co
11
West Shore Railway
79
West Side RR.—See Elmira Water, Light A
124
57
Co
Westmoreland County
Francisco
El. Co. of Balto
—
West Penn
Power A Transportation
United
74
-
West Penn Power Co
&
67
(New Jersey)
90
United Gas A Electric Corporation
88
United Lt. It Rys. (Grand Rapids) (with map) 51
73
Co.
Louisville
l.
United Rys. Investment Co. (San
United Railways Co. (St. Louis)
52
Terre Haute Electric Co.—See Terre Haute
Traction A Light
Terre Haute Indianapolis & Eastern Traction
13
...
United Gas & Elec. Co.—See,Twin State Gas
A Electric Co
J
United Railroads of San
121
Tennessee Railway, Light & Power..
75
West Liberty A Suburban St.—See Pitts. Rys.
West Liberty Street Iiy.—See Pittsb. A Birm.
Traction Co
>■
&
United National Utilities Co
Rys.
L-
Tennessee
11
11
Ternpleton St. Ky.—See Nor. Mass. St. Ry_.
Trac.
North. Ry. & Light Co
United Gas & Electric Co.
Railway.—See
Eastern Massachusetts Street Ry. Co
Taunton Street Ry.—rSee Eastern Massachu¬
Va.
117
83
See Shore Line Electric RR
Taylor
West
46
Texas Electric Co
&
Co.—See
Electric Co
United
Tarrytown White Plains A Mamaroneck Ry.—
Taunton
Utilities
Union
arnpa
Tarrant
Paoe.
I Paoe.
Pao*
T»m» A Toledo
4
(Vol. 110.
INDEX TO RAILWAYS
152
21
139
Electric
fyaneeville
L
Co.—See
Col.
Newark
35
A Zanesville
Zanesrille
Electric
Ry.—See Col. Newark A
Zanesville
35
-
Zanesville Ry. Light A Power
Newark A Zanesville..
Co.—See Col.
....
...
35
BANKERS
435 C h e s t n u t S t r e e t
PH ILA D ELPH IA
Securities of Railroads, Street Railways,
antes
o f Established Value.
CABLE ADDRESS "GRACQ" PHILADELPHIA
Bonds for Investment
■
Warm m and otter a oeMprekenBive list of carefully seieoted
Government, Mtiatelpal, Railroad m i Publlo Utility
:Bonds wfeleh we reeommead for Investment. WeakaHM
pleased to send deseriptive oireulars to investors on
request.
Ha r r is, Fo
rbes
i Co
P in * S tr e e t, C e n te r W illia m
;
'V
^
Industrial Plants and Buildings,
;. Steam Power Stations, Substations,'
Water PowerDevelopments, Gas Plants
NEW YORK
BOSTON .
CHICAGO
■ —tw
*
tieww i.
jB
Subsidiaries
Lebanon Gas ■
«&'F-uel. Co.,- Lebanon, Pa. * and
four other communities.
Alliarice.'- Gas.
Power Co., Alliance, 0 .
A rkansas -Valley Gas Co.,-Arkansas C % , Kan. - Lincoln Gas & Electric Light Co., Lincoln, Neb.,
and 2 other communities,
A shland Gas & E lectric .LightGo.*:’ shland, O.
A
Lorain C ounty Electric Co., Elyria and Lorain ,0 #
A thens R ailw ay & E lectric Co., Athens , Oa.
Massillon Electric1 GasC©., Massillon, 0 ., and
&
A tlas C hem ical .C o m p an y r^ lcd o V :fe A
four other communities.
B artles Oil Co., 8t. Paul, M inn. A a P A ;A A -.
JM iJaa.0© 0 /
sw
*
B artlesville ■i a i $c
t
*'A
Meridian Light & Railway Co,,
Berea; -pIpeL irie ,Go.f;
v
;
Meridian and Hattiesburg, Miss.
Bristol Gas & Electric Co., Bristol, Va.-Tenn.
Montgomery Light & Water Power •Co.* Mont"
Brush '-Electric Co*i Calyesixjnv':Te^V':y
;'
gomery, Ala.
Central Ohio Gas & Electric Co., with four sub
Pueblo Gas & Fuel Co., Pueblo, Colo.
,
sidiaries. »
Cities Fuel & Power Co with 6 subsidiaries. R ichland Company.
Pipe lines in Kansas mid Okla., field company . Richland Public Service Co.* M ansfield,0 .
in Ontario, and oil and gas in Ottawa, K a ^
St. Joseph Railway* Light, Heat & Power Co.,
St, Joseph and Savannah, Mo,
City L ijg h t;T ^ a'ctio n ;Co.*>
.8edalia, Mo;. ‘A
City Light & Water Co., Amaritto, Texas.
Salina Light, Power & Gas Co., Salina, Kan,
Southern Ontario G as Co., Ltd. Pipeline ComColombian Petroleum Co.* Colontbia, S. A.
party in Ontario.
.Compania Emmex d e Petroieo y Gas, Mexico. : .'
Southwestern Oklahoma Gas & Fuel Company,
Crew Levick Co., Philadelphia, Pa,
Pipeline Company in Oklahoma.
Cumberland & Westernport Electric Ry. Co.,
;
Cumberland, Md., and 7 other communities, 'Spokane Gaa & Fuel Co., Spok&n©,Wash. ■
:Danbury & B ethei Gas- & v lectricL ig h t Co., - Summit County Power Co.* Dillon, Colo.
E
Danbury, Brookfield and Bethel, Conn.
.Texas D istributing.-C o.,■ e ^ < - : - ;■
T
Denver G as i Electric Light Co^ Denver, Colo., Toledo Beach Company, Toledo Beach, Midi.
and 9 other communities.
Toledo Casino Company, Toledo, O.
Dominion Gas Co., with 6 subsidiaries. Supplies Toledo Ottawa Beach & Northern Ry. Co.,
Adrian.Street Ry. Co., Adrian, Mich.
natural gas, to Hamilton, Brantford, Halt,
Toledo, 0.
8t. Catherines, Woodstock and numerous other Toledo dk Western Railroad Co., Toledo, 0 ., and
communities in Ontario.
15 other communities.
:Durham Traction Co. , D u r h a m , N 0.
Toledo Traction, Light & Power Co„ with 8
subsidiaries. Serves Toledo, 0 ., and 11 other
communities in Oine and Michigan»
EBapire Distrlct Eleistric Co. of OWahom«; - ■
:TruihbullRuW ic'S a i^ ■
Co.* Warrenand Niles,
C arttutge G ss Co.
Ohio, and 5 other communities.
w m > C ity & C arterv ille G as Co.
Joplin* Webb City, Carthage, Mo., and 12 United Water* Gas & Electric Co., Hutchmspn,
Nickerson and Lyons, Kan.
other communities in Missouri, Kansas and
U tilities C onstruction Company* Lorain 0 .
Oklahoma.
W ashita Gas & F u el Co., Meld Company in
, ; 3^wi i »TV- : A
Oklahoma.
arias. Produces and distributes natural gas In W atauga Power C o . Hydro-electric -'generating
Oklahoma and Kansas, and also has important
Company in Tennessee.
. Western D istributing Co., 20 communities in
oil interests.
* Kansas.
Empire' Gas & F u e lC o ., Kentucky«v ■
Western' Light & -Power Co., Boulder, and 7
Empire ; Gas- & .Fuel Co.,- Ohio.:- ;
other communities in Colorado, and also
Empire Oil & Ga* Co., Delaware.''.'; ’A ';
& Power Co.,
■
Electric Bond Deposit Co.
Empire District Electric Co.
Fremont, Neb.
Knoxville Gas Co., Knoxville and Park* Tenn.
Henry L. Doherty & Company
Operatorsand Managers of - .
; the Cities Service Company Subsidiaries
s
i
x
t
y
y
o
r
k
c it y
@FedFRASER