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OF
THE
k«'-
fjoMMERCIAL & fflHANCIAL QhRONICLE.
i
1SS5.
VOLUME
XL.
I. (1
WILLIAM B. DANA & CO, PUBLISHERS,
79
*
The
&
81
WILLIAM
STREET, NEW YORK.
Investors’ Supplement is issued once i:i two month:, viz., on the last Saturday of
February, April, June, August, October and December, and one copy cf each issue is fur¬
nished to
every
subscriber of the CHRONICLE.
the CHRONICLE at 50 cents
each,
or
[Entered according to Act of Congress in the year 1885, by
Extra copies
are
sold to subscribers of
to others than subsci'ibers at $1
per copy.
William J». Dana As Co„, iu the oilice of the Librarian of Congress, Washington. D. C.l
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40
Wall
STOCKS
COMPANIES’
BONDS.
AND
v
25
20
Brooklyn Gas-Light...
Citizens’ Gas-L.(Bklyn)
Bonds...
Consolidated Gas
•..
!
Par.
1,000
Jersey City & Hoboken.
100
20
Metropolitan—Bonds...
1,000
Mutual (N. Y.)
Bonds
Nassau (Bklyn.)
100
1 000
25
Var’8
10
Scrip
People’s (Bklyn.)
Bonds
1,000
Bonds
Var’s
50
Williamsburg
Bonds
Amount.
Bows
100
1,000
100
Too
Equitable
Bonds
1,000
130
N’r 10, ’84
Jan. 1/85
\
82
103
i
...
RAIIfROAD
Bid. (Ask.
*
2,000,000 Var’s 5
1,200,000 Var’s 3
250.000: A.&O. 5
35,4 30,000!
1,000
Metropolitan (Bklyn.).Municipal—Bonds
Falton Municipal
Date.
!Period
b4
i
1st mortgage
2d mortgai e
Brooklyn Cross-Town.'?
Scrip
1st mortgage
951
!
i
Brooklyn City
! 80
j
l>t mortgage
110
Brooklyn City & N’n..i
1st mortgage i
I
Bush wick Avenue
!
*101
! 139
j
1900
il06 1110
Apr.15,’85 93 ! 96
.
1st mortgage
Coney Isl’d& Brook’ln
110
\
.
(105
109
1107
W. W. WALSH.
AND BONDS
|
500,000
1
100,
100,000 1,000
75,000 1,000!
125,000 1,000
170.000 ! 100:
175.000 ■ 1,01)0
&
HATCH
Par.
3
7
7
5
Aug. 1, 1884
Jan. &
Jan. &
Jan. &
2^!
Jan.
7
Bid.
Date.
Rate
.
2d mortgage
*
3d m< rtgage
j
Consolidated
j
Grand St. & Newtown.!
1st moi tgago
i
!150
....
1
5
2
Jan. 1,-T885
$50
$700,000
500,000 i 1,000 5 & 7 Due 1885 & 1894
34
Feb. 1,1885
350,000 I 100
250,000 11,000
7 Jan. & July, 1889
6
Jan. & July, 1889
100,000
100
4
Nov. 1, 1884
200,000
7
Jan. & July.
200,000
7
May & Nov., 1888
300,000 T,000
100
3*12
Feb. 1, 1884
2,000,000
800,000 1,000
5
Jan:, 1902
100
1,000,01 0
7
:Oct. & Aug., 1890
400,000 1.000
2
Feb. 1, 1885
100
500,000
400,000 1,0001
6 Jan. & July, 1902
Broadway
121
1,000,000 A.&O. 3
3
1,000,000
1888
105
750,000 M.&N. 3V
3
3,000,000
Apr.15/85 ■ 147
6 j
300.000
1900
(103
! 107
2,000,001'
6 !
1900
(105
1,000,000
Amount.
CO’S.
Atlantic Avenue
Bonds
105
i 105
700,000 M.&N. 2ia'Nov. 1.’84' 93
1,000,000 J. & J. 1^ Mcbl5,’85| 79
400,000 M.&N. 3 V Nov. 1/84 105
100,000 J. & J. 3 Apr. 1, ’85: 98
1,000,000 Quar. 2VApr.20,’85 134
•
CITY RAILROAD STOCKS
131
! 85
I
114
125
83
•
756,000! J.*& j'. 7^ Jau. 1, ’85 145
1902
IliO
700,000 F.& A.. 3 !
3,500,000 Quai. 2 V Apr. 10,’85 123
3
i
1902
103
M.&N.
1,500,000,
1.000,000, Var’s 2 Apr. 1,’85 119
.
Securities, and also
WM. D. PRENTISS.
*
BROOKLYN
[
GAS COMPANIES.
•
.^vyy^
.
Montague St, Brooklyn.
York and
New
St.,
GEORGE H. PRENTISS, Member of N. Y. Stock Exchange.
GAS
I.,0
York Gas and City Railroad Stocks and Local
Securities Dealt in at the Yew York Stock Exchange.
Dealers in Rrooklyn and Xcw
all
;u-~
PRENTISS & CO
H.
•
.
.
^ -
f-.
GEORGE
J
./•-
:«■*
July, 1885
July, 1887
July, 1903
1,1885
Fob. & Aug,, 1896
169
110
218
108
103
160
100
105
216
105
90
.
no
160
108
85
100
100
101
95
100
Ask.
172
115
■112
106
170
105
110
218
108
iTs'
162,
no
85
i*03*
105
112
105
CO.,
BANKERS,
NASSAU
5
S.
Dealers in TJ.
We
Bonds at current market
and are
in Government
prices vet, for immediate delivery or on time :
prepared at all times to
person, or
by mail
small amounts.
or
Otliei* Investment Securities.
Bonds and
give particular attention to direct dealings
name
close figures at our olliee iu
telegraph, for the.purchase or sale of large or
A
'
registration of Government bonds for
We attend to the transfer and
customers without charge; and parties desiring to do so*ean have
their iuterest checks sent to our care and cashed at our counter.
our
We will make
purchases, sales or exchanges with National Banks on
the. most favorable terms the market will allow, and effect the necessary
deposits, withdrawals or substitutions in the Department at Washington,
without additional
cliaige.
deal in
high-class investmcr.t Securities of all kinds, and
application the fullest information concerning Securities
offered in the market, that can be obtained from reliable sources.
We bu3r and sell on commission at the New York Stock Exchange, or
iu the open market, all marketable Stocks and Bonds; and will buyer
We also
furnish upon
satisfactory margin for approved customers, any active Stocks or
Exchange.
Air" Orders from Hanks, Bankers and others out,of the city for invest¬
ment lots of Sfoc/.s or Bonds, will receive oar careful attention. ^§3
We receive deposit accounts of Banks, Bankers, individuals or firms,
subject to check at sight and allow interest on balances. Accounts
current rendered and interest credited monthly.
Our Telegraph Code is the same as that formerly used by the late
sell
on
Bonds dealt in at the New York Stock
copies of which are in the liai ds of
banks and bankers throughout the country; and telegiams in its
language will be understood and promptly answered. We will, upon
application, mail copies-of our new edition (imehanged) of 1885, with
our own imprint, to any parties desiring to avail themselves of its
convenience and economy in communicating with us by wire, and who
may not now have it in their possession. As it contains words and
phrases covering almost every form of transaction or inquiry relating
to financial business, bank officers and bankers will find it a convenient
addition to their desk appurtenances.
firm of Fisk & Hatch, issue of 1883,
many
SECURITIES
INVESTMENT
NEW YORK.
STREET,
<F
AND
B O U G H T
WANTED
Watertown
Ifcome
Oswego
Sc
Grand
Detroit
B
Mackinac
1 sts- and
Ogdensburg*
Indiana
Indiana
ajiids
:
~
ds,
Bonds.
Northern
&
•Toliet
Kome
&
SOLD.
Sc
ALBERT
No.
Bonds.
Bonds
IVEai-qiiette
E.
(5
and
S^toclt.
Bonds.
HACHFIELD
Wall
Street,
New
York.
mltmti
OF THE
Commercial & Financial Chronicle.
[Entered according to act of Congress, in the year 1885, by Wx. B. Dana & Co., in the office of the Librarian of Congress, Washington, D. C.]
VOX. 40.
NEW
INVESTORS’
YORK,
APRIL
The number of
TERMS:
published on the last Saturday of every other
month—viz., February, April, June, August, October and December;
and one copy of each issue is furnished, without extra charge, to all
regular subscribers of the Commercial and Financial Chronicle.
Additional copies of any issue are sold to subscribers at 50 cents each,
and to persons not subscribers at $1 each. No subscriptions are taken
for the Investors’ Supplement apart from the Chronicle.
The Commercial and Financial Chronicle is published in New
York every Saturday morning. The terms of subscription, payable in
are as
follows:
For One Year (including postage)
For Six Months
do
Annual subscription in London
Six mos.
do
do
$10 20
6 10
(including postage)
£2 7s.
do
£1 8s.
These prices include the Investors’ Supplement, furnished without
extra charge to subscribers of the Chronicle.
WILLIAM
B.
DANA
Sc
CO., Publishers,
79 dt 81 William Street, New York.
RAILROAD MAPS.
The two
great railroad systems of the Northwest—the
Chicago & Northwestern and the Chicago Milwaukee &
St. Paul—are now for the first time represented by maps in
the Supplement.
The managers of these companies have
recognized the fact that it will be useful to their numerous
stock and bond holders, and to the investing public, in this
country and in Europe, to have these plain maps or
diagrams of their immense systems of railroad thus laid
out in the Supplement, where they can always be referred
The markets of
London, Amsterdam and Frankfort
by our railroad managers, as
favorable places to spread more widely their good securi¬
ties, not necessarily new bonds and stock, but the old
issues, which will always be more strongly held if they
are widely distributed among investment holders.
The
Chronicle and Supplement have a strong position abroad,
and well as they are known and read in Boston, Philadel¬
phia, and all the large cities of this country, their circu¬
lation to regular subscribers in the city of London is
larger than in any city of the United States, except New
to.
should not
Y ork.
:■
be
overlooked
,
The railroad maps now
are as
follows
published in the Supplement
:
Map—
Page.
Ateliison Topeka & Sauta Fe
Baltimore & Ohio
18
Canadiau Pacific
22
Chicago Milwaukee & St. Paul
Chicago & Northwestern—
Cincinnati Indiau&polis St. Louis & Chicago
27
29
15
32
Cincinnati New Orleans & Texas Pacific
East Tennessee
Florida
Virginia & Georgia
Railway & Navigation Company
34
.
40
42
„
Illinois Central
Lake Shore &
45
Michigan Southern
49
*.
Louisville & Nashville
52
Louisville New Orleans & Texas
54
Missouri Pacific
58
Norfolk & Western and Shenandoah
-
Valley
;
64
Northern Pacific
67
Richmond & Danville
74
St. Paul
Minneapolis & Manitoba
78
Southern Pacific
Toledo Ann Arbor & North
80
Miohigan
Union Pacific
83
85
%
1885.
THE
UNDERMINING
SECURITY AND THE
PRIORITY OF RAILROAD MORTGAGES.
SUPPLEMENT.
The Supplement is
advance,
25,
railroad
bond
defaults
is
raising a
question as to the actual value of this class of prop¬
erty for investment. With this subject comes up the
consideration of the standing that a bond has, the facility
or difficulty with which
bondholders can enforce their
rights under mortgage deeds, the experience of holders of
prior liens, and the attitude of railroad managers towards
mortgage creditors generally ; also the methods of reor¬
ganization proposed and suggested.
That in a period of industrial prostration there should
be many embarrassments among railroad corporations, is
no more
strange than that there should be failures in the
mercantile world.
Certain properties and firms may have
proved less sound and strong than had been supposed,
and losses arise in consequence ; but in such cases one
confesses merely to an error of judgment, and bears the
loss philosophically.
Every one admits that such mis¬
takes are unavoidable, and therefore there is little dis¬
position to view them with uncalled-for severity. Neither
would the default of this or that railroad company affect
unfavorably the whole body of railroad investments,
where the default has been brought about by natural
causes.
But unfortunately there have been some con¬
spicuous defaults on certain bonds where default never
should have been made, and such a tendency, if not
arrested, must cast serious discredit upon railroad bonds
in general, and work to the detriment of railroad interests.
Railroad mortgages certainly constitute in many respects
a desirable form of
investment, and it is of the utmost
importance that the public mind should not be prejudiced
against them. According to Poor’s Manual there were on
January 1, 1884, $3,455,040,383 of railroad bonds out¬
standing, and the amount has of course been increased
considerably since then. Now these bonds should be in
demand both at home and abroad.
Secured by mort¬
gage on particular pieces of property, with a fixed rate of
interest, and the income of the system sustaining them
easily determined, they have all the requisites needful
to give them a prominent place in popular favor.
But
such advantages count for nothing, if the rights which
they are supposed to have can be overridden, ignored, or
disregarded. It is in this particular that there is need for
reform and improvement.
Nobody will buy a bond
except as a speculation, if even the best of mortgages are
not safe against an attempted invasion of their lien and
security.
For this purpose it is necessary not only that the claims,
liens, rights, &c., of every particular bond shall be defined,
but, these claims being understood, that they be suffered
in no manner whatever to be impaired.
In other words,
that the holder of any class of bond be given the rights
to which his lien entitles him, and this he should be able
INVESTORS’
SUPPLEMENT.
[Vol. XL.
to trouble¬ accordingly. Now he is quietly told that the company
some
and vexatious litigation.
There should be no thinks the interest on the bond is too high, and even if it
is not, in view of embarrassment in the road’s affairs, &c.>
disposition to take advantage of technicalties to deprive
the bondholder of any of his just demands—equity and fair, he cannot expect to escape some share of the loss, any
ness should be the guiding principles.
Public opinion more than the junior mortgage bondholders.
It may be pertinent right here to refer to some of the
should not tolerate any attempt to unsettle bondholders
and deprive them of a clearly defined right by trouble¬ high figures paid for high-classed bonds of this descrip¬
some litigation.
Unless this is done the harm to rail¬ tion, on which full or partial default has now been allowed
to take place.
The Houston & Texas Central firsts
road bond investments must be incalculable.
Why is it that so many apparently good bonds sell at (main line), which have of late acquired such notoriety,
such low figures ? It is simply the fear that the policy in 1881 sold as high as 117, on the strength of their
pursued in other cases may be pursued with regard to security and the fact that they bore 7 per cent interest.
to
get without being compelled to have recourse
first mortgage of moderate amount
on a large system can be defaulted on when earnings are
more than sufficient to meet the interest, and thus be
reduced to the level of a consolidated or general mortgage
bond, of what avail is priority of lien? The matter becomes
much worse if the default is made with the intention of
The Denver & Rio Grande 1st
compelling bondholders to scale their interest or consent
to fund some of their coupons, or in some other way yield
a part of their claims.
If the practice of forcing senior,
mortgage bondholders to forego some of their demands,
under threat of obliging them in case of refusal to engage
in a long and vexatious law suit, obtains to any great exte nt
such securities will quickly lose their attractions as a
legitimate investment, and be given a wide berth by
capitalists and moneyed men. For, as already said, while
men are willing to bear an
unavoidable loss that follows
simply an error of judgment on their part, they are not
willing to see their property depreciated or rendered
valueless through vicious practices, that could not be
foreseen, and against which the most careful judgmen t
based on the value of the property, its earnings, income
and prospects, counts for nothing.
It may be said with
confidence that a dozen defaults on second-class bonds,
& San Antonio old E. Div.
And really
these.
if
a
brought about by natural causes, which were plainly under¬
stood as a part of the risk, are far less damaging to rail¬
road investments than one solitary default that has been
made through a violation of agreement or a disregard of
the essential principles of fairness and justice.
Of what value is priority of lien, if in case of trouble
treated nearly alike ? These
been issued years ago, when it
was not so easy to get money for railroad enterprises,
usually bear a higher rate of interest, which the holders
are fully entitled to receive till the maturity of their bonds.
The injustice of jostling old-mortgage men is the more
striking, since the original holders of the mortgage have
in most cases disposed of their interest in the bonds long
ago, and a new set of holders come in, who have had
to pay large premiums on the bonds, and thus do not get
all mortgages are to be
earlier mortgages, having
a
rate of income
mortgages (also 7 per cent)
sold up to 121£ in June, 1881.
The default on such bonds as these
But this is not all.
unfavorably the price of other bonds of
the same class, the fear being that the same policy may
be pursued in their case.
Thus the Galveston Harrisburg
has affected very
_
firsts and seconds, due in 1910
respectively, bearing 6 and 7 per cent interest, and
amounting altogether to less than 5 J million dollars—what
could influence these bonds to drop below par as they have
dropped, except the fear that the action in the Houston &
Texas Central matter on their first mortgage might be re¬
peated. The Erie 1st consols, bearing 7 per cent interest,
were recently selling at 113, against 131 in February, 1884
—only about a year ago. The embarrassed condition of the
company’s finances would not be sufficient to account for
such a decline as this, for there is a very large margin of
surplus to be wiped out before interest payments on these
bonds is endangered—even on the earnings of such a noto¬
riously bad year as that of 1883-4. But investors no doubt
call to mind the general mortgage of the Philadelphia &
Reading, which occupies a position somewhat akin to that
of the Erie 1st consols,'though of course not quite so
strong, and argue that as the Reading mortgage was not
safe against default, neither is the Erie mortgage.
Such
an argument does not by any means imply a lack of faith
in the integrity of the Erie managers, for the same kind of
reasoning would be employed with regard to the bonds
of other companies similarly situated, but it shows how
apt the public is to draw parallels between different cases.
This fear has not yet extended to the bonds of such sys¬
tems as the New York Central and Pennsylvania, but
what guarantee is there that it will not, unless the present
disposition to ignore and jeopardize prior-mortgage bond¬
holders’ liens is sharply rebuked and finally checked ?
The question then comes up as to what bondholders had
better do in those cases where a palpable invasion and
infringement of their rights has already taken place.
and 1905
Would it be advisable to make
concessions in the interest
their investment anywhere near the of peace? We think not, most decidedly. The holders
the principal of the bond. Are these owe a duty to the public as well as to themselves. Let
on
rate of interest on
only their premium at maturity—which they them, therefore, take a firm'stand in defense of their
foresaw and allowed for—but also have their income on rights, and resist to the utmost any and all attempts to
They can settle the ques¬
the bond cut down, which they did not take into consider¬ prejudice or reduce their liens.
tion whether a bond secured by mortgage is what it
ation, and could not have foreseen ? It should be remem¬
to lose not
bered that this class of bonds is held by estates, in trust
purports to be, or whether
railroad managers or the holders
default and litigation,
and effect as best suits their pur¬
pose.
It is a battle that need not be fought often, and
self-interest, if not the public welfare, should impel
them to fight it out to a successful issue.
It follows, therefore, that when a plan of reorganization
is offered, it ought, to merit acceptance, be fair and equit¬
able to all interests. Each class of bonds and stock should
receive the recognition
to which it is fairly entitled, and
particularly underlying mortgages of small amount that
of stock
or
of inferior liens can, by
funds, and very generally by persons of small means.
The character of the bonds was carefully inquired into give it only such force
purchase, and investigation seemed to demonstrate
that they were perfectly safe, and constituted a very
choice form of investment.
They were found to be a
prior mortgage of undoubted security, and with abundant
resources in the shape of property and income to cover all
possible contingencies. Default on these old firsts was
thought out of the question, and default on any junior bonds
was a matter of little importance.
In a word, the security
before
was
considered
gilt-edged, and the purchaser paid for it
are
well secured
on
property several times their face value.
INVESTORS’ SUPPLEMENT.
April, 1885.]
Where
there
number
3
of
mortgages—firsts, con¬ It is to their interest to do tb Bffcause they are presumed
sols, generals, &c.,—each should be given its proper stand¬ to reap the rewards later‘‘"on in dividends, and they
ing. If the earnings are sufficient to pay interest only often pay little or nothing for their stock at the
on the first, or first and second, they should be paid out in
outset.
that order. A mortgage on a railroad should be no differ¬
Having a clear idea now as to the principles that should
ent from a mortgage on real estate—at least as far as govern the
management of embarrassed and defaulted
the relative equities are concerned.
Nor must it be for¬ railroads, the question occurs how best to give effect to
gotten that the holders of the junior securities are usually these principles. A good deal will depend upon railroad
the parties that have been running and managing the road— managers and their ideas of
right and wrong; more will
those who have been issuing, the bonds, extending the depend
upon bondholders insisting upon their rights; and
system, adding to its burdens, and controlling its traffic the Courts, and possibly the Stock Exchanges, can also
are
a
and income.
render efficient aid to
this end.
The Courts
particularly
perhaps well to understand that because earnings can do much to raise the morale of railroad management
have fallen short of meeting coupons in one year or two in cases where
they are called upon to interfere, and can
years, that is no evidence whatever that they always will, give practical effect to the idea that the bondholder has a
or that bondholders even
of the junior class must there¬ definite
standing, and is entitled to be, and will be, pro¬
fore accept a permanent reduction of interest.
Of course, tected in this with the authority and power of the Court
in any reorganization, it is essential to success that the
Judges should be scrupulously careful to observe the
charges be brought within the lowest measure of income; equities and priorities of conflicting interests, and should
but care should be taken that this income has not be on their
guard against attempts to invoke their aid
been made designedly small, or diverted to other
purposes. nominally for the protection of one interest, but really for
Especially, however, is this caution needed when the interest the purpose of gaining an advantage to another interest.
of a first or other senior mortgage is involved.
It is just Such attempts are becoming unpleasantly common, and it
possible that through some exceptional circumstances, the behooves the Courts to see that they are not made the
earnings were insufficient to meet the mortgage interest in means^r instrumentality of furthering and fostering grave
one given year. If in such a case bondholders
hastily conclude abuses in this way. An application for a receiver should
to accept a lower rate of interest, they may find afterward never be
granted (except temporarily) in behalf of one inter¬
that they have merely provided a means of
until
est
other interests have first been consulted and the
furnishing
income to the stockholders.
Thus what is to prevent a step is deemed absolutely
necessary.
Recent experience
road in Texas, mainly dependent upon the
yield of cotton, shows it to be not unusual for railroad managers, finding
and which has been pressed severely
through the all other means of retaining control of the property which
failure of that crop for two successive years—what
is to they have brought to the verge of ruin gone, to seek to
prevent such a road from earning and paying a dividend forestall the action of the bondholders by applying them¬
on its stock the
very next year, under an exceptionally selves for a receiver in advance, and get one of their own
heavy yield of the staple ? - The ups and downs of rail¬ men appointed, and thus perpetuate themselves in power.
road traffic in that State are well known, and such a con¬ This is all
wrong, and very vicious.
It might be well in
tingency is far from impossible* We think that instead such cases where immediate action is represented to the
It is
of
a
permanent reduction of interest, it would be fairer, in
Court
being necessary, for the Court to appoint a pro¬
junior bonds, where earnings fluctuate so visional or temporary receiver, and grant a full hearing
widely, to make a certain portion of the interest obliga¬ later on to all interests and the substitution of another
tory, and the rest dependent upon earnings. Or if it is a person if the first-named person be unsatisfactory to any
first mortgage, on which it is claimed the interest has not interest concerned.
been earned in a certain year, and the fact can be estab¬
Then the notion that it is the business of the Court to
lished, we would advise an arrangement for holding one or run a railroad for an indefinite period of time, till it suits
two coupons in trust, to be paid as fast as
earnings accrued this or that interest to proceed to foreclosure, should be
for that purpose.
That would certainly be far preferable sharply discouraged.
The theory of the law should be
to scaling the interest down for the whole
running term that the road shall remain in the hands of the Court only
of the bond, ten, twenty or thirty years.
It involves no long enough to determine the rights of the respective
permanent loss of income, and calls for no sacrifice of parties, and meanwhile to throw the mantle of protection
over all
rights.
impartially. We notice that some of our Courts
With reference to a diversion of income to other uses? are
taking pains to enforce the same idea. Thus Judges
application of earnings to the payment of rentals of leased McKennan and Butler, in the Reading case, have announced
lines acquired subsequent to the issue of the
mortgage that they do not intend that the receivership shall con¬
need not be considered here.
But the application of earn¬ tinue indefinitely,
and that unless a speedy agreement
ings to betterments and improvements is deserving of a between the different parties is reached, the property will
moment’s consideration, as it has been made the
pretext be foreclosed and sold. We think this is as it should be.
the
for
case
as
of
default
in
several
instances.
After
charging all
Bondholders go to
the Courts to have their lien protected
repairs and renewals in full to expenses, should any
enforced, and not imperilled and put off ; and cer¬
earnings beyond that be diverted to making improve¬ tainly the unlimited issue of receivers’ certificates taking
ments and betterments, which in a
proper sense ought precedence of the bonds, does imperil the mortgage inter¬
really to be charges against capital account? Moreover, if est. We do not wish to be misunderstood. We are not
half the net earnings can be diverted to such a
purpose, advocating foreclosure except as a last resort.
We depre¬
not
the
cate
why
whole, and thus a defic it in earnings be
strongly the wiping-out of stock or any other junior
shown for years ? The distinction between bondhold¬ interest.
But if these junior interests tarry and delay,
ers and stockholders should
always be borne in mind, and make no effort to obtain the necessary means with
and where improvements
are necessary which it is which to take the property out of the hands of the Court,
thought inadvisable to charge to capital account, meanwhile allowing the piling up of receivers’ certificates
and there is no surplus income above interest charges to to the detriment of the bondholders’
claim, we see no
meet them, the stockholders should advance the
alternative
but foreclosure.
money.
and
STOCK AND BOND TABLES.
NOTES.
the information concerning Investment matters, published from week to
Annual reports are in black-faced figures.
A description of U. 8. Government Securities is published in the Chronicle each month, as soon as the official “ Debt Statement” is issued.
Prices of all active Stocks and Bonds are quoted weekly in the Chronicle, and a list of general quotations is published monthly.
The following will give explanations of each column of the tables below:
Description.—Railroads leased to others will sometimes be found under the lessee’s name. The following abbreviations frequently occur, viz.
M. for “mortgage,” s. f. for “ sinking fund,” 1. gr. for “ land grant,” reg. for “ registered,” coup, for “ coupon.” Br. for “Branch,” guar, for
“guaranteed," end.for “endorsed.” “ Coupon*” indicates that the bonds are coupon, but may 6e registered.
Date of Bonds.—The date of issue is referred to in this column.
Miles of Road.—Opposite Stocks, this means the miles of road operated, on which the earnings are based; opposite bonds, the miles covered
by the mortgage.
Bize or Par Value.—These figures are dollars, showing the denominations or par value. The figures “ 100, Ac.,” signify $100 and larger.
Rate Per Cent.—The interest per annum is given for bonds, but the per cent of last dividend for stocks; a means gold; x, extra; s, stock or scrip.
When Payable.—J. A J. stands for Jan. & July; F. & A., Feb. & Aug.; M. & S., March & Sept.; A. A O., April & Oct.; M. & N., May A Nov.; J. A D.
June & Dec.; Q.—J., quarterly from January; Q.—F., quarterlyfrom Feb.; Q.—M., quarterly from March.
Bonds, principal ichen due; Stocks, last dividend.—The date in this column shows the period wl an the principal falls due of bonds, but the time
These tables are expressly
week in the Chronicle—to
intended to be used In connection with
which an index is furnished in the
remarks at the foot of the tables.
1432200818788811
when the last dividend was
paid on stocks
Subscribers will confer a great
Date of
Bonds.
DESCRIPTION.
For
STATE SECURITIES.
Immediate notice of any error discovered In
favor by giving
Alabama—Substitution bonds (A) ($7,000,000).
Substitut’n b’ds for RR. (B) ($596,000)
do
for Ala. A Chatt. (C) ($1,000,000)
Funding “obligat’ns” (tax-rec’ble 10-20 yrs.).
Arkansas—Funding bonds of 1869 and 1870..
Funding Bonds 1870 (Holford)
to 1884
Sinking fund bds.(Loughborough)Act.Dec.,’74
To Memphis A Little Rock Railroad
To Little Rock & Fort Smith Railroad
To Little Rock, Pine Bluffs & N. Orleans RR..
To Miss., Ouachita & Red River Railroad
To Arkansas Central Railroad
California— State Capitol bonds
Funded debt bonds of 1873
Connecticut—War bds., not tax., 20 yr.)
Bonds. 10-20 year
New bonds (sink, fd.) not
New bonds, reg.
do
>
Coup.
or
taxable
) reg.
do
Delaware.—Refund’g bds., ser. “A,” “ B” & “C”
1876
$100&c.
100 Ac.
1876
100 Ac.
1876
1880
1869 to ’70
i,ooo
1870
1,000
100
Ac.
1871
1838 to ’39
1,000
1875
1,000
1869
1,000
1870
1,000
1870
lfOOO
1870
1,000
1870
1,000
1870 A ’72
500 Ac.
1873
100 Ac.
1865
1877
1,000
1883
1,000
1884
1,000
1881
1,000
$6,731,000
539,000
945,000
954,000
-
School bonds
1872
Dist. of Columbia— Perm’t imp’t, gold, coup—
1873
Permanent improvement bonds, coupon
1879
Bds for fund’g (Act June 10, ’79) coup, or reg.
1874
Fund, b’ds (U.S.guar.,Acts June,’74& Feb.,’75)
1872.
Market stock, registered and coupon
1871 to ’73
Water stock bonds, coupon
1872
Wash, fund’g, gld,($628,800 are M. AN.,1902).
1871
Florida—State bonds
1873
Gold bonds
1866
Georgia—Atlantic & Gulf Railroad bonds
1866
Bonds, act of Mar. 12, ’66 (renewal W. A A.)..
1870
Quarterly gold bonds, act of Sept. 15, 1870..
1872
Bonds, act of Jan. 18, ’72
1873
Bonds for funding (Act Feb. 19, ’73)
1876
Bonds to fund coupons on endorsed bonds...
3 877
Bonds exchanged for endorsed RR. bonds—
1885
Fdg. b’ds,coup.(for$3,455,000;Act Dec.23,’34
1882 A ’83
State University Bouds
1879
Indiana—Bonds, coup, (pay’ble after Apr. 1,’84)
1867 to ’73
School fund bonds (non-negotiable)
1864 to ’75
Katisas— Bonds for various State purposes
1866 to ’69
Military
500
100
100
50
50
Ac.
&c.
Ac.
&c.
Ac.
1,850,000
1,268,000
1,986,773
2,491,023
238,000
1,200,000
1,000,000
1,200,000
600,000
1,350,000
500,000
2,698,000
1,741,100
1,031,000
500,000
1,000,000
625,000
156,750
3,484,600
642,300
948,400
14,033,150
14 6,450
360,000
1,000
100 Ac.
100
100 Ac.
500 Ac.
500 &c.
1,000
1,649,150
350,000
/
925,000
279,100
2,968,000
2,098,000
1,000
307,500
99,000
1,000
1,000
2,141,000
500 Ac.
1,000
542.000
(?)
161,000
100 Ac.
....
Rate.
3 Ac.
5
4 Ac.
6
6
6
7
6
6
7
7
7
7
7
7 g.
6 g.
6 ?
5
3^
3Lj
4
6
6 g7
5
3-65
7
7
6 g.
7
6 g.
6
7
7 g.
7
8
7
6
5
When
684,500
221,500
7
Where
J.
J.
J.
J.
J.
A
A
A
A
J.
J.
Due.
Payable and by
V horn.
Payable
N.
July 1,1906
July 1, 1906
Y., Am. Exch. Nat.Bk.
do
do
do
do
J.
J.
July 1,1906
Jan. 1, 1900
Montgomery.
1899
1900
1900
1860
1905
1899
1900
1900
1900
A J.
....
J. A J.
J. A J.
J. A J. New York, Nat. City Bank.
A. A O.
A. A O.
A. A 0.
A. A O.
A. A O.
J. A J.
Sacramento, Treasury.
do.
do
J. A J.
A. A O.
Hartford, Treasury.
do
do
M. A N.
do
do
J. A J.
do
do
J. A J.
J. A J.
Pliila., Phila. IS at. Bank.
....
~
April, 1900
July, 1885 A ’87
1893-94
1885
Mayl, 1897
Jan., 1903
Jan. 1,1903
1886,1891, 1901
Oct. 1,
1, 190L
Jan.
July 1, 1891
J. A J. Wash, or N. Y., U. S. Treas.
July 1, 1891
do
do
J. A J.
do
do
July 1, 1899
J. A J.
Aug. 1, 1924
do
do
F. A A.
July 26, 1892
do
do
J. A J.
Oct. 1,1901 A ’03
do
do
J. A J.
1892 A 1902
do
do
J. A J.
Jan. 1, 1901
N. Y. ,Park Bk. A Tallahassee
Jan.
Jan. 1,1903
do
do
J. A J.
Feb. 1,1886
F. A A. N. Y., Fourth National Bk.
July, 1886
do
do
J. A J.
Oct., 1890
do
do
Q.-J.
May, 1892
do
do
J. A J.
April 1, 1886
do
do
A. A O.
July 1, 1896
do
do
J. A J.
July 1, 1889
do
do
J. A J.
July 1, 1915
New York A Atlanta.
J. A J,
‘
7
5
6
7
585,000
3,904,783
loan
Principal—When
Amount
Outstanding
Value.
explanations see notes above.
Levee bonds (or warrants)
Old debt, including interest
Size or
par
tbese Tables.
INTEREST.
1932-33
....
A. A O.
Various
J. A J.
J. A J.
N. Y., Winslow, L. A Co.
do
dor
N.Y., First Nat. Bank.
do
do
April 1, 1889
....
1886 to ’95
1886 to ’99
able July, 1891 to 1901.
In addition to above, $33,000 is due Delaware
bonds, dated July 1, ’76, bearing College.
There is no State tax levied, nor assessments made by State
2 per cent till 1881, then 3 per cent till 1886, 4 per cent till 1896, and 5 officers. Jan. 1, 1884, the live assets exceeded the debt $304,049.
er cent for last 10 years, for old bonds, without any allowance for pastDistrict of Columbia.—The total assessed value of taxable real
ue coupons.
Alabama A Chattanooga endorsed bonds were exchanged
for $1,000,000 of the new bonds, Class C, to bear 2 ner cent till 1881. estate aud personal property is shown below. The interest and sinking
and 4 per cent for remaining 25 years. For railroad endorsements the fund on the 3-65 bonds are provided for by Congress, and the amount is
Real aud personal estate, Ac., has been
bonds issued bear 5 per cent. In 1880 the new 6 per cent bonds were limited to $15,000,000.
issued to retire old 8 per cent “State obligations.”
Analysis of the assessed as follows:
Years.
Real Estate.
Personal.
Tax Rate.
debt and funding operations was given in the Chronicle, Yr. 24, p. 28.
$37,980,356
$15
$11,421,431
For the $2,000,000 of State 8 per cent bonds issued to the Ala. A Chatt.
88,953,078
10,895,712
15
RR. under act of Feb. 11, 1870, the State gives thelieu ou the lauds
90,308,495
9,666,272
15
granted to that railroad, 500,000 to 1,200,000 acres. The assessed valu¬
92,533.665
9,028,812
15
ation of real estate and personalty was $152,920,115 in 1881, $151,90,496,331
10,987,443
15
520,551 in 1882 and $158,518,157 in 1883; tax rate 6Hi mills in each year.
93,491,891
12,715,686
15'
Arkansas.—The State Supreme Court decided Levee bonds of 1869
Florida.—Less the sink, fund of $179,450, the total debt is $1,095,and 1870 invalid ; nor are the Holford or the Railroad Aid bonds recog¬
nized by the State. The State is. in default for interest, except on the 550, which does not include $132,000 bouds of 1857, held by Indian
secured sinking fund bonds (Loughborough) issued under the law of Trust Fund. About $528,800 of the bonds are held in school funds, &c.
December, 1874. In Jan., 1883, a decision was made by the U. S. Cir¬ Coupons of all bonds are receivable for taxes. Real and personal property
cuit Court, substantially holding the railroad companies responsible assessed in 1882, $45,285,977; in 1883, $55,008,560; tax rate 4 mills.
for the State bonds issued to them, but this was reversed in October
Georgia.—The constitutional amendment in 1877 declared void
and the case appealed to U. S. Supreme Court. See the references several issues of bonds and railroad endorsements. The 5 p. c. bonds
below. The following are the latest official assessments:
of 1885 were sold to take up other bonds maturing in 1885 aud 1886.
Real Estate.;
Personal.
Tax Rate. See Chronicle, V. 40, p. 385, 481. Assessed value and tax rate per
Alabama.—The State gave 30-year
$58,445,111
$41,843,803
7l2 $1,000 have been:
56,979,281
37.101.746
7h Years.
1883
48,382,167
78,444,227
7
—(V. 38, p. 738; V. 39, p. 263; V. 40, p. 119.)
California.—The State holds in trust for School and University funds
$486,000 Capitol bonds and also bonds of 1873, in all $2,690,000,
leaving only $513,500 in private hands. Assessed valuations and rate
of tax per
Years.
$1,000 have been:
Real Estate.
Tax Rate.
Personal.
Personalty. Tax Rate.
$90,849,338
3*50
99,276,876
350
106,195,395
3
$284,881,951
'
174,452,761
120,432,609
Real Estate.
$134,244,081
139,657,250
148,057,233
—(V. 40. p. 385, 481.)
Indiana.—Indiana made a compromise with her bondholders in 1846,
$460,694,217
$6'40 giving them State stock for one-half of their bonds and overdue coupons,
$149,656,007
146,180,978
655 and Wabash A Erie Canal stock for the balance, about $7,500,000. There
464,082,851
5*96 are also outstanding $340,000 5 per cent bouds, due 1901. held by Pur¬
446,319,940
120,848,453
558,373,786
167,338,644
497 due University, aud about $22,000 miscellaneous issues of bonds.
Connecticut.—The debt of Connecticut was all created originally for Valuation made in 1883 of taxable property: Real estate, $547,372,540;
war purposes.
personalty, $293,109,385.
Assessed valuation and tax rate per $1,000 have been:
Kansas.-Kansas has but a small State debt, but the issue of municipa l
Personalty. Tax Rate.
Years.
Real Estate.
$332,170,856
'
1*25 bonds was about $15,931,930. The valuations (about one-half of true
•
,
342,242,566
.
1*25
243,858,712
104,916,167
1*25
The assessed valuation of real estate is about 70 per cent of the true value.
Delaware.-These refunding bonds issued July, 1381, take up out¬
standing debt.
Series “A” are$160,000, redeemable 1886: series “B,”
$300,000, redeemable July, 1886 to 1891: series “C,” $165,000, redeem¬
value) have been:
Years.
1883
1884
Real
Personal
Property.
Estate.
$154,929,010
$18,030,492
180,623,238
56,390,518
,v
—State funds hold
$614,500 of the bonds.
Rate of Tax
per $1,000.
$4 30
4 50
Total
Debt.
$1,120,175
874,500
April,
STATE
1885.]
SEC U KITIES
5
Subscribers will confer a great favor by giving Immediate notice of any error discovered in these Tables.
Date of
DESCRIPTION.
Bonds.
For
Value.
explanation see notes on first page of tables.
Louisiana—Bonds for relief of State Treasury
Bonds in aid of various railroads
levee bonds—Act 35 of 1865
do
Act 115 of 1867
do
special—Act 32 of 1870
Bonds funding coupons
to Boeuf & Crocodile Navigation Co...
do
to Mississippi & Mexican Gulf Canal..
do
do
school, held by 8t. Treasurer
to N. Orleans, Mobile & Chatt. RR
do
to N. Orleans, Mobile & Texas RR
do
N. O. Mob. & Texas RR. bonds, end. by State
Size or
par
1853
outstanding.
1,000
Amount
fundable
was
ab’t
1,000
'$200,0001
$500
1,000
1866
1867
1870
1866
1870
1869
1857
1870
1871
1869
1874
1880
1864
500
100 &o.
1,000
1,000
1,000
1,000
1,000
1,000
Four per
cent bonds, coupon
Chesapeake A Ohio Canal, sterling....
1868
1880
1838
1838
1838-47
1839
1837
Railroads and canals
Eastern Shore Railroad
Baltimore & Susquehanna Railroad...
1870
Chesapeake & Ohio Canal
1839
Baltimore & Susquehanna Railroad...
1839
Annapolis A Elkridge Railroad
1882
Defense redemption loan
1870 & ’74
Deaf and Dumb Asylum Loan
1876
Maryland Hospital Loan, 10-15 years.
1872
Maryland State Loan
1878
Treasury relief loan, 10-15 years
1864
Massachusetts— Bounty Fund Loan.
1864
do
do sterling
1869
War Loan, sterling
1858 to’61
Troy & Greenfield"Railroad loan, sterling
home
do
1861 to ’63
do
1871
do
do
sterling
1875
do
do
sterling
do
dollar bonds 1873 to ’74
do
do
1875
do
do
do
1877
do
do
1860
Southern Vermont Railroad Loan
Boston, Hartford A Erie Railroad, sterling... 1868 to’69
1874 &’76
Harbor Land Improvement (5-20s)
1874 A ’77
Danvers Lunatic Hospital
1875-’76
Lunatic Hospital, Worcester
1875
New State Prisons, sterling
1865
1882
1883
Revenue loan (redemption optional)
-.
1868
Missouri—Consolidated bonds
1872
University and Lunatic Asylum bonds
1874
State Bank stock refunding
1854 to ’58
Bonds to North Missouri Railroad.....
1857 to ’59
Bonds to Cairo & Fulton Railroad
1859 to ’60
Bonds to Platte County Railroad
1854 to ’59
Bonds to Iron Mountain Railroad
1853 to ’59
Pacific Railroad of Missouri
1874
Funding bonds
1857 to’75
Hannibal & St. Joseph Railroad
1874
do
do
renewal
1877
JTebrasfca—Bonds (act Feb. 14,1877) coupon...
1864
New Hampshire—War loan, coupon bonds
1872
Municipal war loan
1879
Loan of 1879 for refunding
1879
Prison loan
1863
New Jersey—War loan bonds, tax free
1864
do
do
taxable
1875
New Tori;—
f
1872
Under Art. 7, Sec 3, of Con¬
Canal debt,)
1873
stitution.
reg. stock.
1874
Michigan—War Bounty Bonds
100 &c.
....
500 &C.
100 Ac.
1,000
....
....
...
.
.
.
80,000
260,000
48,000
70,000
2,500,000
875,000
11,334,400
1,809,350
2,330,000
2,827,900
107,000
1,784,444
2,263,333
309,485
r
....
....
.
..
....
....
100 &c.
....
....
500 &c.
£100 &c
£200
£200 &c
500 &c.
200 &c.
£500
1,000
1,000
10,000
5,000
31,069
269,000
528,355
298,435
62,605
3,000,000
222,000
135,000
1,217,234
500,000
4,379,500
4,022,649
1,005,419
5,537,104
1,366,500
3,618,242
1,506,182
300,000
1,300,000
370,000
200,000
£200
3,618,729
1,000
1,000
1,000
300,000
1,500,000
1,100,000
1,299,355
230,000
4,283,000
£500
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
200,000
2,483,000
185,000
80,000
1,457,000
248,000
431,000
1,192,000
1,000
2,555,000
1,000
1,000
1,000
1,390,000
1,140,000
1.000
449,267
1,000
150,000
2,206,100
500,000
84,000
997,900
100 &c.
1,000
500 &c.
100 Ac.
100 Ac.
100 &o.
100 &c.
100 Ac.
100 &c.
618,000
593.400
473,000
1,562.900
4.302,600
2,000,000
Louisiana.—The Constitutional amendment passed Dec., 1879>
provided for a new bond in place of consols of 1874. bearing 2 per eeu
for 5 years, 3 per cent for 15 years and 4 per cent afterwards.
In June,
1884, the bonds outstanding stamped as 2 per cents were $265,200;
Baby” bonds at 3 per cent. $1,357,860; bonds at 4 per cent $217,650.
In June, 1882, a constitutional amendment passed the Legislature and
was confirmed at the election in April, 1884. giving new bonds at 4 per
cent after Jan. 1,1885, and doing away with the provision of 3 per cent
for fifteen years. There is considerable overdue interest of the years
1874 to 1880, inclusive. The constitution of 1879 limits the power of
taxation to 6 mills on the valuation, of which only 3 mills may be ap¬
propriated for interest on the debt; in 1884 1*2 mills sufficed to pay 2
per cent, but for 1885 a rate of 27s was made on a total taxable valuation
of about $200,000,000. A suit by the State of New Hampshire against
Louisiana as assignee of her bonds, was decided in favor of Louisiana by
the U. 8. Supreme Court. (V. 38, p. 178, 540, 595, 635; V. 39, p. 3, 181.)
Maine.—The debt January 1, 1885, was $5,266,900. The sinking
fund $1,826,200.
Tax rate for 1880, 5 mills on valuation of 1870;
1881-82. 4*2 mills; 1883-84, 4 mills on State valuation.
Maryland.—The State has largely assisted canals and railroads, and
holds $3,992,851 of stocks and bonds ranked as productive; the State
also holds $27,320,539 in unproductive securities, which includes
$17,566,472 Chesapeake A Ohio Canal interest.
The State ex¬
changes the “Defense Loan” at par for new certificates of indebtedness,
bearing interest at 3-65 per cent, redeemable in 15 years. Assessed val¬
“
uation, &c., have been:
Years.
Real & Personal. Tax per $100.
1882
18%c,
$164,824,879
1883
466,089,380
133*c.
469,593,225
18%c.
1884
Massachusetts.—The funded debt, Jan. 1, 1885, was $31,432,681;
the sinking funds were $17,731,725. The Hoosac tunnel and connections
cost the State heavily. The loan to Boston Hartford & Erie Railroad
was secured by “Berdell” mortgage bonds, afterwards exchanged for
N. Y. & N. E. RR. second mortgage bonds.
Assessed valuation, taxrate, &c., have been:
Real
Years.
Estate.
1880 ....$1,111,160,072
Personal
Tax per
Total
Sinking
Property.
$1,000.
Debt.
Funds.
When
Where
Payable
Principal—When
due.
and by
payable
wliom.
’
1885.
....
.
Rate.
January,
8421838. 811
Consolidated funded bonds
Twos, fours and threes (see notes below)
Maine— Bounty loan bonds
I Coup.
Municipal war debt assumed
{ or reg
INTEREST.
Amount
J. A J.
$15,000
July, 1893
1872 to 1906
Various
119,000
1886
Various
M. A N.
May 1, 1907
Amounts not
M. & S.
March 1,1875
6
1886 A ’88
J. A J.
fundable,
8
J. A J.
Jan. 1. 1890
80,000 | per report of
1899
7-30 M. & S.
260,000 Jan. 1,1878.
1897
6
Various
48,000
8
J. A J.
70,000
July 1,1910
8
A. A O. 2,500,000
April, 1911
8
875.000
N. Y.. Bank of N. Y.
7
J. A J.
Jan., 1914
New Orleans.
1886 & 1914
2, 4, 3 - J. & J.
J. A D.
June 1,1889
6
Boston, 8uftblk Bank.
Oct. 1,1889
A. & O.
6
Augusta and Boston.
4
F. A A.
Boston, Suffolk Bank.
$50,000 per year.
1889
:
5 g- J. & J.
London, Baring Bros.
do
do
1889
5 g- J. & J.
1890
5
Q.—J. Balt., Farm. & Merch. Bk
do
1890
do
5
A. A O.
do
do
1890
3
Quart’y
do
do
1885
6
T. A J.
do
1890
6
do
Q.—J.
do
A. A O.
do
1890
6
do
do
3-65 J. A J.
1899
do
do
1885 A ’89
6
J. & J.
do
J. A J.
do
6
1887 A 1891
do
do
1887
6
do
do
1893
6
J. A J.
5 g- M. AN.
Boston, Treasury.
May 1, 1894
5 g. M. & N.
London, Baring Bros.
May 1, 1894
do
do
5 g. J. A J.
July 1, 1889
A pi., 1888 to ’90
do
do
5 g. A. A O.
Boston Treasury.
5 g. A. & O.
April, 1891 to ’94
5 g- J. A J.
London, Baring Bros.
July, 1891
do
do
Jan. 1, 1895
5 g- J. A J.
1894
Boston
5 g- J. & J.
,
Treasury
do
do
5 g. J. & J.
July 1, 1895
do
5 g- M. & S.
do
Sept. 1, 1897
do
do
5 g- A. A O.
April 1,1890
Jan. 1,1900
5 g. J. & J.
London, Baring Bros.
5 g* J. & J.
Boston, Treasury.
Sept. 1,1896
Boston , Treasury.
5 g. Various
’yl,’94-Sepl,’97
do
do
5 g. Various
M’yl’95-Sep 1,’96
Jan. 1, 1895
5 g. J. & J. London, Baring Bros. & Co.
7
M. & N. N. Y., Am. Exchange Bank.
May 1,1890
1912
J. A J. N. Y. City, First Nat. Bk.
4*3
St. Paul, State Treasury.
J. & J.
4*3
Optional.
1888
6
J. & J. N. Y., Bank of Commerce.
do
do
6
J. A J.
July, 1892
do
do
6
J. & J.
April 1,1894
do
1885 to ’88
do
6
J. A J.
do
do
1885 to ’89
6
J. <fe J.
do
1889 to ’90
do
6
J. A J.
do
do
1885 to ’89
6
J. & J.
do
1886 to ’89
do
6
J. A J.
do
do
6
J. & J.
July, 1894 & ’95
do
1887 to ’95
do
T. A J.
6
1894-0-6
do
do
6
J. A J.
8
A. A O.
April 1, 1897
N.Y., Kountze Bros.
6
M. & S.
Concord or Boston.
Sept., 1889
do
do
6
J. & J.
Jan., ’92 to 1905
5
J. & J. Bost.,Nat.Bk.Commonw’lth July 1, 1887-’92
do
do
5
J. & J.
July, 1885 to ’91
Jersey City and Trenton.
Jan., 1886 to ’96
6
J. & J.
do
do
Jan..’97 to 1902
6
J. A J.
6 g. J. & J. N. Y., Manhattan Co. Bank.
Oct., 1893
do
do
6 g. J. A J.
July, 1887
do
do
0 g- J. & J.
July 1, 1891
Oct. 1,1892
do
do
6 g. A. & O.
6
6
8
6
8
,
Minnesota.—All the old State bonds formerly held by the permanent
redeemed or exchanged for 4*38. Minnesota re¬
school fund have been
fused for some years to recognize the “ State Railroad Bonds” of 1858,
to the amount of $2,275,000, but a proposed compromise with the
holders was provided for in 1881, and was carried out by the issue of
the 4*2 per cent bonds. Taxable valuations and State tax have been:
Years.
Real Estate.
Personal.
$208,949,184
$74,329,190
Tax Rate.
67,159,583
78,549,269
255,910,090
401,028,537
1*85
244,033,847
1882...
1833
1884
1*80
Missouri.—The tax rate is 40c. per $100, Bonds maturing are met
by sinking fund. Total State debt Jan. 1, 1885, was $11,803,000;
school fund and University certificates, $3,440,000; total, $15,243,000.
The Hannibal & St. Jo. RR. paid the State $3,000,000 for its debt, but
the State refused on Jan. 1, 1882, to pay the coupons on its own $3,000,000 of bonds.
Litigation between the State and company
ensued, re¬
a judgment against the company for $476,049, as aue the State
on May 11, 1883; an appeal to the U. S. Supreme Court is yet pending.
The company’s last payment of interest on the bonds was up to Jan. 1,
1882, after which no interest was paid until the State made an appro¬
sulting in
priation in 1885, and paid interest up to Jan. 1 of that year
interest on the overdue coupons.
assessed property in
this State for the years 1882, 1883 and 1884:
1883.
1884.
$442,826,742
170,813,976
$496,730,663
35,626,524
$443,144,455
173,345,191
39,760,767
$649,867,242
$656,250,413
$725,775,259
1882.
Real estate
Personal property
Railroad property
Total
in full, with
The following is a statement of the
....
187,145,751
41,898,845
Nebraska.—The State school fund holds $326,267. There are also
$50,000 10 per cent “ Grasshopper” bonds due 1885, interest naid Jan.
and
per
July. Assessed valuation (33 ^ per cent of true
$1,000 have been:
Years.
value) and tax rate
Personal,
Real Estate,
Railroad, &c.
Tax Rate.
$816,695,358 $15 35 $32,799,464 $13,050,092 1831
$93,142,456
1881
1,149,965,827 883,886,538 14 28 32,399,464 14,080,465
98,537,475
1,189,524,370 812,858,614 15 28 32,511,680 16,944,263
1882
110,543,644
7 40
1,226,111,297 835,601,175 14 98 31,423,680 16,836,672
126,615,886
7 650^
1,258.452,712 829,339,811 15 95 31,423,080 17,731,725
New Hampshire.—The debt of New Hampshire was created for war
Michigan.—’The debt is practically extinguished, as the sinking fund
purposes.
The Municipal loan of 1872 was issued to cities and towns,
has sufficient assets to meet the debt. Equalized valuation of real and
the proceeds
be applied to their war debts. Total valuation in 1882
personal property, 1882. about $810,000,000, and tax rate for State pur¬ $215,000,000;to 1833,
in
$227,914,543; in 1834. $231,340,038, and rate
poses 126100 mills on the $1: in 1833. tax rate. 182100 mills; in 1831, of taxation for all
purposes, $1-496.
....
....
1-108 mills.
SECURITIES
STATE
6
Subscribers will confer a great favor by giving
[Vol. XL.
Immediate notice of any error discovered In these Tables.
INTEREST.
For explanation see
Penitentiary bonds, act Aug. 24, 1868
Special tax bonds
Ohio—Registered loan of 1881
Registered loan, payable after Dec. 1886
Pennsylvania—Reg. bonds, tax fr. (red’bie’92).
Registered bonds, tax free, 15-25 years
Loan of February, 1882 (registered)
Agricultural College land scrip
Rhode Island—War bonds
War bonds
South Carolina—State House
Funding bv-nds and stock
Blue Ridge Railroad bonds
stock and bonds..
Funding hills receivable
Payment of interest
Funding bank bills
Conversion bonds and stoca
Consol, bonds and stock (Brown).
Tennessee—Funding bonds, act of 1873
Bonds regist’d, act of 1873,($292,300 are 5s)..
Held by E. T. University (not t • be funded)..
Compromise bonds (act of May 20, 1882) ....
Settlement bonds, act of 1883
do
do
5 & 6 per cents.
Texas—Funding State debt (act May 2, 1871) ...
Frontier def’se, gold, act Aug.5,’70(red’ble ’91)
Revenue deficiency bonds, act Dec. 2, 1871..
Bonds, act Mar., 1874 (for paying float’g debt)
Redemption of debt, act Aug. 6, ’76
Bonds, act April 21,1879.'
Bonds to State University and School Fund..
Bonds issued to School Fuud
Virginia--Old bonds,23 fundable
Old bonds sterling
Consol, (act Mar.^71) coup, tax receivable—
do
do
reg., eonv. into coup...
do
(act 1872) “ Pealer,” cp. not rec’ble..
do
do
“ Pealer,” reg. and certifs .
Deferred certificates (W. Va.)
10-40s, act March 28, ’79, coup,
do
sterling
do
and reg
Funding bonds (Riddleberger), act Feb. 14, ’82.
$2,803,796
500 Ac.
2,999,600
765,000
2,030,000
1,180,000
1,000
1879
1,000
1,000
1,000
1,000
1868
1881
1856
1877
1879
1882
1882
1872
1363
1864
1853 to ’54
1866
1854
1868
1868
1863
1869
1874
1874
Various.
1183820-.34.
$50 Ac.
100
100
100
100
50
50
&c.
Ac.
&c.
&C.
41.000
11,366,000
1,825,000
2,276,214
7,767,300
1,917,000
6,864,200
1.870,600
500,000
1882
1883
1872
1871
1872
1874
1876
1879
&c.
Ac.
1,000
1,000
631,000
738,000
1,000
154,273
1882
14,000
128,000
46,250
500 Ac.
500 Ac.
500 Ac.
55,200
5,200,433
(?)
1,000
1,000
1,000
(?)
397,000
(?)
500 Ac.
499,000
467,000
288,000
1,000
1,000
1,000
1.000
100 Ac.
Various
...»
100"
.
1,647,000
1,068,900
216,641
320,367
3,162,832
1,254,817
13,020,200
>1,318,552
3
5 A
6
7
7
7
6
5
5
6
464,100
635,163
15,239,370
7,587,300
296,300
Ac.
6
6
6
6
6
4
6
5
4
4,360,256
Payable
A. A
A. A
J. A
J. A
F. A
F. A
F. A
F. A
0.
O
J. N. Y.,
J.
A. Pliila
A.
A.
A.
due.
and by
Y., Nat. Bk. of Republic.
do
do
do
do
do
do
do
do
New York.
do
....
1909 1868 to ’98
1884 to ’85
April 1. 1919
1868 to ’98
Oct., 1898
1898 to >99
American Exoh. B’k. At will, 1.885-’8S
,
do
Farm.
do
do
do
A Mech B’k.
Aug. 1. 1904 “
Feb. 1. 1912
Aug. 1, '85 to ’92
do
do
do
do
Jan. 1887
Feb. 1, 1902
Harrisburg, Treasury.
J. A J. Providence, R.I.H. A T. Co.
1922
....
g.
g.
g.
g.
F.
J.
J.
J.
A.
A.
g-
J.
J.
J.
6
J.
g.
J.
3, 4, 5, 6
3,415,300
1,180.033
67,000
1851 to ’66 500 Ac.
£100 Ac
1851
100 Ac.
1871
100 Ac.
18 1
100 Ac
1872
1*72
1871
1879
1879
56,000
1,000
1,000
1,000
6
6
6
6
6
6
6
6
c
6
6
6
6
5 A
6
Where Payable
Whom.
When
J. A J N.
Various
Various
A. A 0.
4
3*2 A 4
3*2 A 4
27,250
50 Ac.
Jersey.—The debt was created for war purposes. Valuation
and personal property (taxable), in 1884, $554,828,114, against
$548,495,069 in 1S83, $534,917,876 in 1882, $527,451,222 in 1881.
$518,617,518 in ’80 and $508,892,333 in ’79. State school tax, 2^ mills.
New York.—The financial condition of the State has been fortified by
the payment of all debt, except the caual debt, as above. The sinking
funds in January, 1385, amounted to $1,918,501. The new Capitol
building lias cost the State thus far $16,500,000, but this has been paid
for by taxation. Valuations and tax rate for State purposes have beeu :
New
of real
Rate.
18.$,04573 1823.
in ten series
do
outstanding.
Value.
1879
Principal—When
Amount
or
par
notes on first page of tables
North Carolina—Fund, b’ds (coups.tax-rec’ble).
Old bonds not funded
Bonds to North Carolina Railroad
Bonds for N. C. RR. issue (tax receivable eps )
RR. bonds not fundable (Chatham and W.AT.)
do
Size
Date of
Bonds.
DESCRIPTION.
J.
J.
A
A
A
A
A
A
A
A
A
A
A
A
A
do
do
A.
J. Columbia, State Treasury.
J. Columbia and New York.
J.
Columbia, Treasury.
O. Columbia and New York.
do
do
O.
do
do
J.
do
do
J.
J. N, Y., National Park Bank.
J.
Nashville, Treasurer.
do
do
J.
do
do
J.
New York, Cont’l Bank.
J.
July 1, 1893
Aug. 1, 1894
1871 A ’81
J’ly 1,1887 to ’97
,>'ly 1,1875 to ’79
July 1, 1888
July 1, 1888
July 1, 1889
July 1, 1882
July l, 1893
July 1, 1914
1875 to 1900
Various.
Jan. 1, 1912 -'
6
g.
g.
g.
g.
6
5
6
6
6
6
6
3 to 5
3 to 5
3
State Treasury.
Various
M. A S.' New York, Bank or N. Y.
do
do
J. A J.
do
J. A J.
do
J. A J. New York A State Treasury.
do
do
J. A D.
-
J.
J.
J.
J.
J.
.71
J.
J.
J.
J.
A
A
A
A
A
fa
A
A
A
A
J.
J.
J.
J.
J.
.T.
J
J.
J.
J.
N. Y., Winslow, L. A Co.
London, Baring B. A Co.
Richmond, Treasury.
do
do
1891
1911
1892
March 1,1904
July, 1906
1909
1886 to ’95
1886
1905
1905
Contingent
m
1919
1919
m
Richmond, Treasury.
July l, 1932
Years.
Real estate.
Personalty.
R lilroads.
1880-81...
$76,583,866
$36,574,858
4%
77.609,666
87,131,100
41.785,768
48.249,939
$7,3J2,9oO
13.76",400
15.227,964
5
Tax rate
5
15,263,366
5
46,904,705
Tennessee.—A funding law was passed (act of May 20, ’82) without
the tax-receivable coupon clause, and giving new oo ids at 60 per cent
of the principal and interest of old, the new bearing 3 per cent in 188233, 4 per cent in 1331 and 1835, 5 per cent in 1836 and 1887, and6 per
Real estate.
Personal.
State tax. cent 1838 to 1912.
Exchanges were made in New York July, 1883,
1879
$352,469,320
2^1000 ami $3,221,351 of these compromise boucls were issued. The Legisla¬
$2,333,669,813
ture
of
1833
repealed this law and passed a new one adjusting the debt
1880
2,315,400,526
322,468,712
33)
on the basis of new bonds at 50 per eeut. of the face value of old, a d
1881
2.340,335,690
340,921,916
bearing 3 per cent interest; the old State debt proper of $2,118,000 is
2,432,661,378
351,021,189
1882
2*45
made an exception, and now 5 and 6 per cent bonds are to be issued for
1883
2,5 ">7,213,240
315,039,035
3*4
that at the face value.
1884345.418.36L
2.669. L73.3 L1
2&*in
Up to December, 1334, of the old 5 and 6 per
esnt bonds about $900,000 had been exchanged, and of the other debt
Nortli Carolina.—Interest was paid for some years only' on the
$6,910,181 had been sca'ed and $ 1,445,300 3 per cents issued. Assessed
bonds issued to No. Car. RR., as the State holds $3,000,200 stock and re¬ valuations
and tax rate per $L,000 have been as follows :
ceives dividends thereon. The old North Carolina RR. construction
Real estate.
Other property. Railroad prop’ty. Tax rate
bonds are exchangeable for the new 6s, due 1919 (see V. 35, p. 132). and
30
1881. ....$200,007,214
$
$25,232,659
many nollers have already so exenauged. The fuu ling law of March 4.
20
1382.
195,333,563
26,546,245
1879, provided for funding old ante-war bonds at 40 per cent of the fa-e
30
1883
31,517,209
195,753,414
26,884,459
value; “ New” railroad bonds recognized as valid at 25 per cent: fund¬
30
1881.
34,350,170
200,2L2,900
26,631,284
ing bonds of 1866 and 1868 at 15 per cent. Nothing for overdue cou¬
pons. Coupons of the new bonds are receivable for taxes. The funding —K. 38, p. 29,5; V. 39, p. 451, V. 40, p. 121, 364.)
ended .Tan. 1, 1882, but has been continued till Jan. 1, 1887.
If ail
Texas.—The old high-rate b mds have been redeemed and low interest
were funded tlie new 4
per cents would be $3,589,511.
Special
bonds issued. Assessed valuations and rate of tax per $1,000 have beeu:
tax bonds were ignored; also bonds to Chatham RR., 1868, $l,08o,0o0,
and to Williamston A Tarb. RR., $150,000, and for Penitentiary under Years.
Real estare.
Total vacation. Tax rate
Personalty.
acts of 1868.
197,167,630
111,803,106
318,970,736
Assessed valuation of real estate is about 60 per cent of true value.
216,228,017
357,000,000
11),000,000
Valuations and tax rate per $100 have been:
1882
400,000,000
3
188 4 85...
87,559,533
....
....
....
Total valuation. Taxpr.$100
Personalty.
28
$67,563,691
$169,916,907
28
167,738,639
62,995,728
104,7 (2,911
25
180,377,525
71,389,341
108,988,184
25
20 L,222,723
77,037,346
124,135,377
(V. 38. p. 509, 679; V. 40, p. 93, 454.)
Ohio.—Ohio has a very small State debt, but large local debts,amount¬
ing in 1884 to $49,277,173, against $25,957,588 in 1875; this increase
being mainly in city debts. Valuations in Ohio have beeu as follows:
Real estate.
Persoualty.
Real estate.
Personalty.
Years.
1880....
1881....
1882....
1883....
Real estate.
$102,348,210
—
1866.. $663,647,542 $442,561,379
1878.. 1,091,116,952 461,460,552 1882.
1879.. 1,093,768,904 442,979,885 1883.
1880. 1,102,049,931 456,166,034 1884.
—State tax rate for 1883-84, 2*iomills; for
$485,750,196
1,116,681,655 518,229,079
1,131.058,750 542,207,121
1,145,475,210 528,298,871
1882-83, 29,0 mills.
Pennsylvania.—Sinking fuud Dec., 1884, $1,274,801. Revenue
principally from corporations. Taxes are levied on personal
property. The State holds $5,160,000 in good railroad bonds. Any
coupon bonds may be changed to registered.
Real estate valuation in
is raised
1884.
603,00 J,000
Virginia.—The first funding law of March, 1871, allowed holders o
their debt into new 6 per cent bonds, bear
ing coupons receivable far taxes, and receiving for the other one-third
of their priucip il a “ deferred certificate,” to be paid by West Virginia.
The act of 1872 repeal'd the tax-receivable clause of the law, and the
bonds to fund two-thirds of
bonds issued under it were called “ Pealers.” The McCulloch law of
March 28, 1879. for readjusting the debt, was given in Vol. 28,
p. 353.
The new bonds were 10-40 year bonds, bearing 3 per cent
for 10
years, 4 per cent for 20 years and 5 per cent for 10
coupons tax-re livable.
In February, 882, the Riddleberger
years,
law for re-adjusting the debt and the
laws familiarly known as
‘‘Coupon killers,” wore passed (see V. 34, p. 88. The Riddleberger
act provided for the issue of new bonds, dated July
1, 1382,
into wiiich all others con'd be funded at specified rates below par, vary¬
ing from 47 to 31 on the different classes.
Up to February, 1385,
there had been surrendered a total of $6,509,992bonds, coupons, certifi¬
cates, Ac., of all sorts, for which $4,360,256 of 3 per cent bonds bad
been issued. The amounts iu table above of other bo uds outstanding are
revised to Jan. 1, 1835. T<ie Supreme Court of the U. S. held (V. 36, p.
1884, $1,600,000,000.
Rhode Island.—The debt was all create! for war purposes. In 285), that the law requiring the validity of the coupons to be established
January, 1833, the net debt, less sinking fuud, was $1,332,315. The before a State court did not impair the contract making them receiv¬
able for taxes, and was therefore constitutional, but the question was
State valuation of real properly in 1883 was $328,530,559; tax rate, 12
again before the U. S. Supreme Court in April, 18->5. when that Court
cents on $100.
held that a tender of coupons in payment of taxes was sutfioieut for the
Sonth Carolina.—The funding law of Deo. 23, ’73, provided for
property owuer, and if the collector afrer that levied on his property he
sealing down the old debt 50 per cent, The consols were again “ re¬ (the collector) could be sued as a
private trespasser.
adjusted ” in 1879. The several acts were passed Dec. 3, 1873, Dec. 24,
Assessed valuations have been as follows:
1878, Dec. 24, 1879, and February, 1880. Iu November, 1884, the con¬
Real Estate.
Total.
Personalty.
Tax Rate.
sols stood at $6,163,806, which amount was made up as follows: Brown Years.
$232,386,357
$77,666,765
$310,053,122
40e.
oongols, $5,200,433; green consols not yet exchanged, $963,372, less
81,789,710
40o.
236,368,227
318,157,937
amount invalid. $699,149. The old issues yet fundable on Nov. 1, ’83,
1884
239,826,090
88,974,040
328.300,040
40c.
were estimated at a total of about $625,000,
Valuations and rate of
-(V. 38, p. 62, 350, 447; V. 39, p. 158, 183, 235, 316; V. 40, p. 305.)
tax per $1,000 have been : v
...
CITY
April, 1885.]
Subscribers will confer
a
Date of
bonds.
first page of tables.
Albany, N. F.—Purchase Congress Hall Block..
City improvement
Washington Park
New Post Office site
1866
1870-’71
1870-’82
Size
High School
Water debt ($400,000 due 1900-3, are 7s)
Western Avenue improvement bonds
New City Hall
South Pearl Street bonds
outstanding.
$1,000
1,000
115,000
20,000
1,090,000
110,000
145,000
62,000
860,000
365,500
400,000
418,000
427,000
77,500
52,000
1,000
1,000
1,000
1877
1882
1882
1865
1,000
....
1,000
’66-’67-’72 500 Ac.
Bonds for A. L. Railroad and State House.
Bonds for West. RR. and floating debt
Bonds, 1st and 2d series, waterworks
1869-’70
1,000
1870 A ’72 500 Ac.
1874
1,000
1877
500 Ac.
1875
1,000
Redemption bonds
do
do
1881
1879
1884
Various.
1,000
43281881
Bonds to fund floating debt
Capitol bonds
Augusta, Qa.—Bonds for various purposes
Baltimorer—Consolidated loan of 1890
Various.
1877
1878
1863
1865
1860
1863
Funding loan, reg. stock, tax free.
Consolidated bounty loan
Exempt bounty loan
Fublic parks (Druid Hill)
Park improvement loan
.
.
.
100
100
100
100
100
100
100
100
.
2,057,000
7,306,546
Ac.
Ac.
Ac.
Ac.
2,211,068
410,353
555,566
185,723
200,000
5,000,000
New City Hall
do
do
.
Paving loan
Funding loan
Western Maryland Railroad
Jones’ Falls ($957,000 are 5s)
Valley Railroad
Water loan ($263,000 only are 6s)
Harford Run improvement loan
Western Maryland RR. loan ($684,000)
Endorsements for Western Maryland RR..
do
do
....
100 Ac.
100
100 Ac.
......
UUUUO) LUU|I.
(Act ICO.
±4 mi
1874
1875
1869
1869
j
European A North American Railroad
Bangor A Piscataquis Railroad
Bath,me—Fund.debt($78,000are6s,’97, J.AJ.)
Knox A Lincoln RR., for stock and coupons
Androscoggin Railroad..
Knox & Lincoln Railroad ($23,750 each year
do
do
(F.AA. and M.«5
Railroad refunded
Boston—City purposes, war debt. Ac
City debt and Roxbury and Charlestown
do
registered
do
do
do
do
1,000,000
1,000,000
500.000
1,029,061
500,000
1861
1869
1871-’72
1,375,000
117,000
100,000
100,000
500,000
1,000,000
1,000
1,000
500 Ac.
1,000
506 Ac.
Various.
Various.
Various.
Various.
>
Various.
1852 to’64
1864 to ’80
1878-’82
1879
1877
....
....
sterling
Mystic water debt, assumed
Cochituate Water loan, 6 per cent
do
do
5 per cent
1373
1869
loan.
1862 to ’8c,
559, <00
490,000
....
....
Burnt district, sterling loan
Consolidated street improvem’t,
180,500
154,000
425,000
....
Various.
City debt
West Roxbury
925.000
247,000
1,280,000
9,932,500
8,855,000
450,000
1,000
1,000
.....
<£100Ae
TIOOAc
230,000
160,000
4,997,604
3,068,291
1,000
1866 to ’76
840,000
....
1875 A’78
4 per cent
do
do
1378
do
do
1872
£100 Ac
Sterling
do
do
5 per cent gold.
1875-’7C
do
do
1879
4*2
do
do
4
do
do
1879-’80
do
do
4 per cent.
1833-’84
1861
Brooklyn— Brooklyn local improvement loan...
1,000
Mount Prospect Square loan
1857
1,000
1865
Soldiers’ aid fund loan
1,000
Gowanus canal improvement loan, local
1866
1,000
Bushwick avenue
do
do
do
1865
1,000
1866
SouthSeventh st.
do
do
do
1,000
Union street improvement loan, local
1867
1,000
Fourth avenue
* do
do
do
1868 A ’69
1,000
Wallabout Bay
1867
do
do
1,000
New York Bridge loan, registered and coupon
1870
1,000
Bonds for N. Y. A Brooklyn Bridge, cp. or reg.
1875-’83
1,000
1860
’73
to
Prospect Park loan, registered and coupon ...
1,000
1860 to ’72
Prospect Park loan
1,000
4,897,000
....
....
....
....
....
-
.
.
.
.
552,000
175,000
3,000,000
9,245,237
8,019,000
1,217,000
Albany.—The loan to Alb. A Susquehanna is secured by first mort¬
gage. The valuation of Albany County in 1882 was, approximately: Rea)
estate, $81,604,218; personal, $7,8*. ,366 -estimated to be about threefourths of true value. City tax rate 1882, 1-86. Population, 90,758 in
1880; 69,422 in 1870.
Atlanta.—The total bonded debt Jan. 1,1834, was $2,196,500. As¬
sessed value real of estate in 1833, $18,268,269; personal, $8,194,475-
Population, 37,409 m 1830; 21,789 in 1870.
Augusta.—Of this debt, $t300,000 was issued for railroads, and bal¬
canal enlargement, waterworks, Ac. Sinking funds, Jan. 1,1881,
$248,300.
Taxable valuation in 1883: Real estate, $1.2,000,000; per¬
sonal, $6,020,000; tax rate, $1 87*3 per $100. Population in 1870,
15,389; in 1830, 21,891.
Baltimore.—The total net debt over and above productive assets, on
which the oity is chargeable with interest, was $6,175,503 on Dec. 31,
1884. The Baltimore A Ohio Railroad pays interest on $5,000,000.
Water loan is paid by income of water works, and Public Park by
City
Passenger Railway, and against a total debt of $37,513,591 the city is
chargeable with interest on only $21,352,185, and holds productive
assets, including the sinking funds, equivalent to $15,176,632, leaving
only $6,175,503 as an absolute charge for interest. There are held
$5,o59,820 of unproductive securities. Population in 1870, 267,354; »n
1880, 332,313. Assessed valuation and tax rate have been:
Real
Estate.
$187,636,451
189,913,494
191,516,113
Personal
Property.
$53,597,605
53,889,733
58,135,586
1385...r.
Total
Valuation.
$246,230,189
248,803,232
249,651,699
255,000,000
Rate of Tax
per
$1,000.
13
15
16
16
70
00
09
00
Assessed valuat’n is near the full cash value.
Bangor, Me.—The loans to Eu. A No. Am. R. R. to Bangor A Pis. R.
R. are secured by first mortgages on those roads, and interest fully paid
from the earnings. Valuations (near full value) and tax rate have been:
Years.
Real Estate.
Personalty.
Tax rate.
-
$6,414,703
$2,893,130
6,443,298
2,788,414
Municipal property, including water works, $808,0005
16,851 in 1880, 18,829 in 187o.
68,000
101,000
115,000
194,000
223,000
....
Years.
1332
13,000
588,000
1,947,274
3,552,000
268,000
686,000
931,000
213,000
90,000
......
ance for
4
4
6
6
6 A 7
6
6
6
6 A 7
5 A 6
6
6
<
6
250,000
617,000
2*34
Population,
Where
F.
m.
M.
M.
M.
F.
F.
J.
Principal—When
Due.
payable and by
whom.
Payable
A A. Boston, Merchants’ Bank. Feb.. 1885 to ’94
& a
New York.
1884 to 1900
& N.
New York and Albany.
1910-’21
& N. N. Y., Merchants’ Nat. Bk.
May 1,1904
& N.
do
do
1884 to ’85
& A.
do
do
Feb. 1,1883-1912
& A.
do
do
Feb. 1, 1883-4-5
& J.
do
do
July 1,1905 to’10
Albany.
N. Y., Del. A Hud. Canal Co,
New York, Park Bank,
do
do
do
do
New York, Fourth N. Bank,
Atlanta or New York,
do
do
do
do
New York, Park Bank.
New York and Atlanta.
Augusta, Treasury.
Balto., Farm. A Plan. Bank,
Balto., Nat. Merchants’ Bk
do
do
do
do
do
do
do
do
Balto., Farm. A Plan. Bank,
Balto., N. Mechanics’Bank.
Balto., Farm. A Plan. Bank,
do
do
do
do
City Register’s Office.
Balto., Farm. A Plan. Bank.
Balto., N. Mechanics’ Bank,
do
do
I.
J.
& J.
& J.
Various
r. & J.
1895-’97
1886 A 1892
J. A
J. A
J., 1890
J., 1902
Jan, 1,1904
Jan. 1,1897
8ept. 1,1885
July 1, 1911
1886-1896
1914
1834 to 1906
July 1, 1890
July 1,1916
July, 1916
Sept. 1,1893
After
Balto., Nat. Mechanics’ Bk,
800,000
1,000,000
1,957,000 3-65,5A6
6
1,015,300
4,500,000 4, 5 A 6
....
1865 to’72
lUctli
5,000,000
1,000,000
Union Railroad
Municipal loan.
Yf (tl/vi
Ac.
Ac.
Ac.
Ac.
Ac.
Ac.
Ac.
Ac.
When
4
6
8
7
8
7
8
10
5
6
6
6 A 7'
6
5
5
6
6
6
6
4
6
6
6
6
5
4
6
6
68.500
Ac.
Ac.
Ac.
Ac.
100 Ac.
100
100
100
100
100
100
100
100
7
7
6 A 7
6
385,000
55,000
•
Patterson Park extension
1853
1853
1870
1874
1864
1881
1870
1872
1872-’84
1873
1874
1880
1882
Rate.
6
$150,000
7
448,000
1,048,000 4, 5, 6, 7
1,000
1,000
1874-’80
INTEREST.
Amount
or
par
value.
1874
1875
Consolidated loan
7
great favor by giving Immediate notice of any error discovered In these Tables.
DESCRIPTION.
For explanations see notes on
SECURITIES
do
do
Sept. 1,1893
Sept. 1, 1890
Jan. 1, 1895
1920
Jan. 1, 1890
Jan. 1, 1886
April 15,1900
March 7, 1902
After 1895
After Nov. 1,1920
July 1, 1900
Jan. 1, 1902
April 9, 1900
Oct. 31,1886
Balto., Nat. Merchants’ Bk. July 1,1894,1922
Balto., City Reg’ter’s Office. After Jan. 1,1920
July 1. 1925
Balto., N.Mechanics’ Bank. Jan. 1, ’90 A 1900
Jan. 1, 1895
Baltimore, Franklin Bank.
1885 and 1892
Boston, Merchants’ N. B’k.
do
do
Jan. 1, 1894
do
do
July 1, 1905
r. & j.
do
do
Jan. 1, 1894
r. & J.
do
do
Aoril 1, 1899
A. & O.
1887 A 1897
M. & S
City Treasury.
1885 A 1898
Various Boston, Second Nat. Bank.
V. & o. City Treasuryand Boston. 'Jan. to Oct. 1891
f. & J. Boston, Hide A Leather Bk. ‘July 1,1884 to ’99
1891 A 1902
Various Boston, Second Nat. Bank.
l
6
4
r. & J.
July 1,1902
5 gV arious Boston, Treasurer’s Offioe.
1885 to ’87
do
do
6
Various
1885 to ’97
do
do
4
1887-1913
Various
do
do
41flg. \. & O.
Oct., 1889
do
do
1887
4*fl
Various
do
5
do
Various
Various.
do
7
do
1885 to 1894
Various
5 gV. A O. London, Baring Brothers,
April. 1893
do
5 g.
I. & J.
July, 1899
5 A 6
Various Boston, Treasurer’s Office,
1885 to 1913
do
do
6
Various
1897 to 1908
do
5
do
Various
1907-1908
do
do
4
A. & O.
1903
5 g- A. & O. London, Baring Brothers.
Oct., 1902
5 gBoston, Treasurer’s Office,
1905-1908
do
do
1909
4*3g. A.. A O.
4 gdo
do
A. & O.
1909-1912
4
do
do
Various
1913-1914
7
M. & N.
1891
Brooklyn, § AS
6
do
*
J. & J.
1887
g £3
® *■" 3
do
7
& J.
1885 to ’90
do
7
A J.
1885 to 90
+3
M
do
7
& J.
1885 to ’90
os
do
7
& J.
1885 to ’90
do
7
A J.
1885 to ’86
do
6 A 7
A J.
1885 to ’95
do
7
1885 to ’90
A J
do
7
1899-1924
do
1905 to 1921
4, 5,6,7
do
7
J. A J.
1915 to ’24
do
6
J. A J.
1924 to’28
o
>25^
gm-9
Bath, Me.—The city holds a first mortgage on the Audroscoggiu-road
for the
debt, and second and third mortgages on the Knox A Lincoln for
$895,000 out of a total of $2,395,000 bonds issued by
its proportion of
several cities in aid of the latter road.
Tax valuation, 1881—real estate,
$6,511,335. Tax rate, $25 per $1,000; 1382, $6,847,945; rate, $25!
1883, valuation, $7,084,825; rate, $25.
Boston.—The population of Boston in 1880 was 362,839; in 1870,
250,526, against 177,840 in 1860. The total funded debt April 30,
1884, was $43,185,669, and net debt, $26,344,494. The tax levy in 1884
is divided as follows: State, $770,740; county, $301,600; city, $10,216,029. The rate on $1,000 on valuation of 1884 is as follows: State,
$1; county, 29c.; city, $15 71; total, $17 00, against $14 50 on
valuation of 1883.
Assessed valuation on May 1 for four years has been:
Years.
1881
1882
1883
\
Real Estate.
Personal Estate. Tax Rate.
Net Debt.
$455,388,600
$13 90
$210,165,997
$26,005,620
204,785.000
15 10
467,705,100
24,261,661
203,966,700
14 50
478,402,800
24,858,817
483,130,700
194,517,300
17 00
26,844,494
Brooklyn.—The whole city debt was as follows Jan. 1,1884 and ’85.
Jan. 1, 1884.
Jan. 1,1885.
Permanent debt
$24,361,788
$26,365,237
Water loan
10,452,000
11,158,000
Debt payable from assessments
4.951,000
4.754,000
Tax certificates
3,000,000
3,000,000
....
Gross debt
Less sinking fund
$42,764,788
5,716,608
$45,277,237
6,471,606
Net debt
$37,048,179
$33,805,630
Population in 1870, 396,099. against 566,663 in 1880. Valuation of
property and tax rate per $1,000 for five years have been:
Years.
Real.
Personal.
Rate.
$14,383,541
$264,404,017
$23 16
2 883
280,800,597
18,135,909
26 01
1884
297,126,666
20,727,406
26 34
The debt of Kings County, separate from the debt of Brooklyn, is
about $4,000,000, of which the city is
responsible for nineteen*
twentieths.
CITY
8
Snbicrlber* will confer a great fkvor by
SECUKITIES
[VOL. XL,
giving Immediate notice of any error
discovered In these Tables,
INTEREST.
Date of
Bonds.
DESCRIPTION.
For explanations see notes on first page
Sewerage fund bonds, continuous, local
Assessment fund bonds, continuous, local
Temporary tax certificates
Certificates of indebtedness
Bonds to pay arrears to county
Arrearage bonds, reg. (redeem,
Award bonds for lands taken
Waterworks bonds
Tax loan bonds
Cambridge, Mass.—City bonds
City bonds
1,000
1,000
1862 to"’81
1868 to’81
1877-83
1864 A ’77
1863
1870 to ’76
1373-’74
1866
1870 to ’77
1867 to’69
1878
1866
968,000
1,000Ac
l,000Ac
1,000Ac
1,000
1,000
500 <fcc.
500 Ac.
549,000
2,350,000
200,000
3.915.500
2.871,882
467,937
220,000
150,000
703,000
689,000
100,000
874,000
437,000
48,500
92,800
500 Ac.
1,000
1,000
500.000
1878
1879
do
do
1,000
coup, or reg
100 Ac.
Chelsea, Mass— Sinking fund bonds
Bonds
109.500
3,413,600
358.800
25,000
debt, coup
1,000
992,000
do
notes
Water loan, coup
1*600
200,000
500.&C.
Chicago—Water loan
Water loan
Water loan
1,000
1882
(refunding)
Sewerage bonds
100, Ac.
500 Ac.
1880
do
i‘,6bo
improvement bonds
1,000
Municipal bonds
500 Ac.
Municipal and School bonds
1881
Municipal bonds (refunding loan)
1865 to ’80 500 Ac.
Cook County debt
1855
1,000
Cincinnati— Bds.toO.&M.RR.to pur.whf.prop.N
1868
1,000
Bonds for erection of a Workhouse
X
1869
1,000
Bonds for Water Works
...C3
1863
1,000
Bonds for Common School purposes
P
1855
1,000
Bonds to O. & M. RR. to purchase whf. prop. .N
Bonds for ext. and impr. Water W. .Cf, D. A E 1847 to’50 500 Ac.
River
•
funding floating debt
..A2
new Hospital
SAS2
Bonds for funding floating debt
L
Extension and improve. Water Works. ..K AF
Bonds to purchase Orp’n Asyl. grds. for park.O
Bonds for
Bonds for
Bonds for sewerage
R
Bonds for improving Gilbert avenue
U
Bonds to build Eggleston avenue sewer... .B3
Bonds for improvement
W
Bonds for Water Work purposes
C4AC5
General improvement
W2
Cincinnati Southern RR
do
do
do
do
($3,200,000
do
do
are
gold 6s)
Floating debt bonds, coupon
Park improvement
Water-works bonds
Bonds for McLean Ave. sewer
D1
U2
S3
Hospital bonds
Street improvement
bonds, short
f. bonds, 30-50 yrs. (Act Apl. 9, ’80.
do
do
do
Work House and Infirmary
Consol,
s.
Deficiency loan (redeemable after 1891)
Cleveland— Water works ($200,000 are 6 p. ct.).
Funded debt ($203,000 6s, $32,000 5s)
Lake View Park
Canal and canal lock ($11,000 are 6s)
School ($100,000 are 6 p. ct.)
House of Correction
Main sewers, special assessment
Street improvem’ts do
Street damages, Ac., do
Infirmary
Viaduct (mostly F. A A., A. A O. and J. A D.)
Des Moines, Ioica—Renewed judgment bond
Funding bonds, redeemable 1878
Coupon warrautsand sewer and paving bonds
1847 to ’48
1867-’68
1853
1851-’53
1858
1869
1869
1869
1871
1871-’72
1871
1872
1872
1876
1878 A ’79
1874
1875
1875
1879
1876
1876 to ’83
1880
1881
1882
1881
1872 to’84
1869 to’84
1872 to’74
1874 to’79
1869 to ’73
1868
Various.
Various.
Various.
1876
1873 to ’78
1875
1878
18S2 A ’84
96,000
132,000
3,490,000
333,000
1,675,000
489.500
2,608,000
186,000
2.536.500
843.500
4.941.500
210,000
250,000
150,000
98,000
194,000
397,000
500 Ac.
146.500
1,000
1,000
750,000
60,000
1,000
175,000
1,000
131,000
1,000
150,000
150,000
1,000
1,000
100.000
1,000
133,000
1,000
1,000
450,000
600,000
578,000
500 Ac.
1,000
500 Ac.
1,000
1,000
1,000
1,000
1,000
V arious
1,000
1,000
8,243,000
4.884,000
1,774,000
1,000,000
50,000
300,000
175,000
50,000
265,249
1,337,000
651,000
60.000
100
100 &c.i
500,000
1,000
1,000
1,100,000
1,880,000
1.000
315.000
275,000
1,000
150,000
100,000
369,700
267,300
202.800
1,000
1,000
100 Ac
100 Ac.
100 Ac.
1,000
1,000
1,000
1,000
6
\
$1,372,000
2,468,000
3,000,000
7907852881
i
..
Charleston, S. C — Fire loan bonds, coupon ...
Conversion bonds, to redeem past-due debt...
Funded
Rate.
<
$1,000
1,000
1884
in 1894) —
Buffalo, A. r.—Funded debt bonds
do
do
Principal—When
Amount
outstanding,
Where
When
Due.
Payable and by
Whom.
Payable
-
1857 to ’72
1872-’75
Various.
Various.
Various.
1884
Permanent water loan
do
do
do
do
Water loan
do
do
do
(reg.)
or
par
Value.
of tables
Brooklyn—( Continued l—
Size
24,000
2,138,000
228,000
175.000
182,000
7
4, 5, 7
4, 5, 6, 7
J.
J.
J.
J.
A
A
A
A
J
J.
J.
J.
Brooklyn. 1
do
do
do
do
do
do
do
do
6 A 7
•
•
•
^
A J.
J.
•
•
^
312
3^2 to 7
312 to 7
312 to 5
5
5 g.
6
6
6
6
6
5
7
7
6
4
4 A 6
J.
•
•
•
A J.
\ 1884 to 1912
j to
*
►
g.g'S I
m
»
^ aj
3 years
from date.
3 years
from date.
"
1924
.
Various
Buffalo and New York.
do
do
Various
do
do
J. A J.
A. A O. Boston, Bank Redemption.
J. A J.
Boston, Tremont Bank.
J. A J. Boston, Bank Redemption.
do
do
J. A J
do
do
J. A J.
do
do
J. A J
A. A O.
do
do
do
do
J. A J.
Charleston, Treasury
A. A 0.
do
do
do
J. A J.
1885 to 1925
1885 to 1925
July, 1885-1900
1887 & 1889
Jan.
July, 1903-4-5
July 1, 1886
July 1,1890 to ’97
Apl. 1,1887-1889
^
^
1890
1888 to 1897
-.1898
Jan. 1, 1909
1884 to 1908
1884 to 1888
1891 to 1895
1889-1890
512
6
Various
412
Various
Boston, N. Bk. Redemption
F.
J.
J.
J.
J.
J.
J.
J.
J.
A A Boston, N. Bk. Redemption
A J. N. Y., Am. Ex. Nat. Bank.
do
do
A J.
do
do
A J.
do
do
A J.
do
do
A J.
iia
do
do
A J.
7
do
do
A J.
6
do
do
A J.
7
do
do
4
4^ to 7 M. A N. N. Y., Metropolitan Bank.
M. A N. N.Y., Am. Exch Nat. Bank.
6
do
do
7 3-10 J. A D.
do
do
7 3-10 J. A D.
do
do
J. A J.
6
do
M. A N.
do
6
A. A 0. Pliila., Bk. of North Amer.
6
do
M. A N.
do
6
7 3-10 Various N.Y Am. Exch. Nat. Bank.
do
do
J. A J.
6
V arious Pliila., Bk. of North Amer.
6
M. A S.
Cincinnati.
6
7 3-10 M. A S. N. Y., Am. Exch. Nat. Bk.
do
do
7 3-10 M. A S.
do
do
7 3-10 A. A O.
do
do
7 3-10 J. A D.
do
do
F. A A.
7
do
do
J. A D.
7
do
do
J. A J.
7
do
do
7 3-10 J. A J.
do
do
6g. or 7-3 M. A N.
do
Various
do
6 A 7
Cincinnati.
M. A N.
7
J. A J. N. Y., Am Exch. Nat. B’k.
7
Cincinnati.
F. A A.
7
M. A N. N.Y., Am. Exch. Nat. Bank
5 A 6
M. A N.
C.ncinuati.
7
do
Various
5 A 7
M. A N. N. Y., Am. Exch. Nat. Bk.
5
do
do
J. A J.
4
Cincinnati.
J. A J.
4
J. A D. N. Y., Am. Exch. Nat. Bk.
4
3-65 to 7 Various N. Y., Am. Exch. Nat. Bk.
do
do
4, 5, 6, 7 Various
do
do
Various
7
do
do
Various
6 A 7
do
do
7
Various
do
do
A. A O.
7
do
do
Various
4 to 7
do
do
Various
4 to 7
do
do
4 to 7
Various
do
do
Various
6
do
do
5, 6 A 7 Various
7 A 4
J. A J. New York, Kountze Bros.
7
! J. A J. N. V. Chemical Nat. Bank.
Des Moines and Boston.
Various
5
6
6
7
3-65
7
1,1893
1885 to ’96
Aug. 1,1887-’95
1897 & ’98
Julyl, ’88 to ’95
1902
1888 to ’95
July 1, 1900
1890 to ’95
July, 1895 & ’96
1885 to ’99
1901
*
m
m
m
m
May 1,1885-’92
Nov., 1885
.
1888
1888 A 1889
Jan., 1890
Nov., 1890
April, 1895
May, 1897
1897 A 1898
,
,
,
Jan., 1900
June A Oct., 1900
Mar., 1888A1908
Sept., 1899
Sept,, 1899
Oct., 1899
March 1,1886
Aug., 1886-’97
Dec. 1, 1891
July 1, 1902
Julyl, 1902
May 1, 1906
Nov. 1, 1908-’09
May 15, 1904
Jan. 1, 1896
Aug.,’85, ’90 A’95
May 1889-1909
May 1, 1906
1885.to ’93
After May 1, 1910
ily, 1911 to 1931
July 1, 1892
'
June 1,1901
1892 A ’93
1885 to ’94
1887 to’91
1894 to ’98
1885-6-7
1884
1884 to’93
1884-5-6
1884 to ’89
1881 to’87
1893 A 1907
’98
Various.
I
Ihe assessed value of real estate is about one-third of its true value
Population in 1870 was 298,977, and in 1880, 503,185. The South Park,
111,995,905. Since that date valuations and tax per $1,000 have been: West Chicago Park and Lincoln Park loans are not debts of the city,
Years.
Real estate.
Personalty.
Tax Rate. but of distinct corporations.
1878
80,929,165 7,947,380
17 60
Cincinnati.—In addition to the issues above named there remains,
1882
98,097,000
16 13 several smaller amounts, as follows: $25,000 (YAY2) 6s, 1886; $15,000
•
93,167.090
1883
8,796,675
16 27 6s (Q.), November, 1890; $27,000 6s (A.), March, 1897; $76,000 (H2.),
Buffalo also pays 7-10 of Erie county debt. Coupon bonds are exchange¬ August, 1897; $29,000 (V) 6s, 1885 ; $19,000 4s, 1891; $64,706 (U3U4),
able for registered. The interest on different bonds is 3*2, 4, 4*2, 5,6 1889 and 1890. City holds $1,274,000 of Cincinnati Southern bonds in
and 7 per cent. Population, 155,134 in 1880; 117,714 in 1870.
sinking funds. In 1870 the population was 216,239, against 255,139 in
Buffalo.—In
1875
real
and personal
property, was assessed at
t39,968,105; in 1876 rule of valuation changed and assessment was
Cambridge, Mass.—The sinking funds, Nov. 30, 1884, amounted to
1880.
The following table from the books of the Auditor of Hamilton
$1 ,377,358. The investments are nearly all in city bonds at par and County, Ohio, exhibits the assessed valuation of the city of Cincinnati
stamped “not negotiable. Valuation, 1883, real estate $39,821,700; in the year 1860, and from 1870 to 1884 :
Personal
Real
Total
Tax per
personal $11,975,640. Valuation in 1884, $41,289,200 real estate and
$1,000.
Estate.
Estate
Valuation.
$11,612,300 personal; total, $52,901,500; tax rate, $1 68 per $100. Years.
1860
Population, 52,669 in 1880; 39,634 in 1870.
$61,620,904
$31,411,912
$93,032,716
$17 45
Charleston, S. C.—The bonds of Charleston are mostly held within
78,736,482
57,370,754
136,107,236
31 60
the State of South Carolina. Conversion bonds of 1878 and 1879 are
123,427,888
56,934,044
180,361,932
22 20
issued in exchange for city stock. Valuations and tax rate per $1,000
119,621,856
55,462,410
175,084,296
20 10
have been:
64,166,460
185,645,740
121,479,280
23 06
Years.
Real Estate.
Personal Prop.
Tax Rate.
123,231,790
58,708,284
23 38
181,950,074
1882
$7,926,602
$22 50
$15,454,010
58,521,730
184,498,565
125,976,835
24 82
1883
16,016,100
7,419,784
23 80
....127,143,900
27 04
56,809,066
183,952,966
8,186,216
1884
16,249,365 *
20 00
128,820.270
50,609,872
179,430,142
29 10
—Population, 49,984 in 1880; 48,956 in 1870.
129,043,880
43,830,188
172.874,068
28 54
Chelsea, Mass.—Sinking fund, Jan. 1, 1884, $248,880, and debt,
40,832,505
169,305,635
28 98
128,473,130
$1,661,800. Tax valuation, 1883, $17,374,385; tax rate, $18 40. Valu¬
129,956,980
37,578,376
167.535,356
31 00
ation in 1882, $17,029,722; tax rate, $18 80. Population, 21,782 in
41,359,163
120,045,230
161.404,393
22 20
1880; 18.547 in 1870.
28,643,917
166,986,105
23 82
138,342,188
Chicago.—Tbe city debt is limited to 5 per cent of the Illinois State
47,050,496
20 50
122,874,790
169,925,286
valuation. Of the funded debt, $3,955,000 is on account of the Water
169,534,192
Works, which yield an income much above the intei est charge on the debt
The city is the sole owner of the stock of the Cincinnati Southern Rail¬
Equalized Value.
Tax Rate
Years.
Real Estate.
Personal. perl$l,000. road, leased as per terms, V. 33, p. 281, and with the waterworks and
other property owns real estate assets put at $35,775,000.
1880
$89,031,955
$33-33
$28,101,678
Cleveland.—The sewer, street improvem’ts and street opening bonds
1881
90,099,045
29,052,906
34*72
1882
29,052,906
95,881,714
33-72 are lor special local improvements, and redeemed by assessments on the
1883
101,596,787
31.639,717
134*10 property benefited. Assessed valuation, taxf rate, debt and sinking
1884
31,720,237
105,606,743
fc. 34 82 unus have been:
,
,.v
CITY
April, 1885.]
9
SECURITIES
Subscribers will confer a great favor by giving immediate notice of any error
discovered In these Table*.
INTEREST.
Date of
bonds.
DESCRIPTION.
For explanations see notes on first page
of tables.
Detroit,Mich.—For Water W.Co., on city’s credit
Public Building stock (City Hall) bonds
Public sewer bonds ($35,000 are 6s)
Bonds for purchase Belle Isle
1855 to ’80
1859 to’71
1872 to’76
1879
1871 to’74
Elizabeth, N. J.—Improvement bonds
Funded debt bonds
School House bonds
Market House bonds
Consolidated improvement bonds
Funded assessment bonds
1870 to’75
1872 to’73
1865 to’66
1875-’76
1877
1876
1882
1868
1869
1870
1870
1870
1876
1876
1877
1878
1881
outstanding.
$500Ac.
$1,555,000
469.000
320,000
100,000
180,000
525,000
59,000
1,000
1,000
1,000
1,000
1,000
1,000
62,000
1,726,000
673,000
8431281 88811
Tax arrearage bonds
New Adjustment bonds
Evansville, Indiana—E. H. & N. RR. bonds
City wharf bonds
E. C. &P. RR. bonds
do
do
Water works bonds
*
*
Redemption bonds
do
do
do
do
do
do
do
do
Fall River, Mass—City notes
City bonds
•
•
•
•
....
1873
1871
1875
1883
Galveston, Texas- Bonds for various purposes... 1 869 to ’75
Limited debt bonds (sinking fund 2 per cent). 1877-8-9
do
do
1882
Galveston County bonds, G. C. A S. F. RR
13G5-’81
Hartford, Conn —Water bonds
1876
City bonds (H. P. AF. RR )
1859
Park bonds (4 of these bonds are tor $500 each)
1868
Funded debt
1872
Capitol bonds
1879-’80
Hartford town debts to railroads 10-25
1863
do
do
war
do
floating debt
Fitchburg, Mass—City bonus
Water loan
do
do
registered
1874
1872
do
do
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
196,000
100,000
300,000
300,000
105,000
100,000
100.000
100,000
311,000
45,000
600,000
450,000
1,000
Large.
1,000
1,000
100.000
261.860
500.000
($60,000
are
J. & J.).
Indianapolis— Bonds to railroads
1873
1869 to ’70
1877
Bonds to Un. RR. Tr. Stock Yard (mortgage).
Loan bonds, series A
do
do
B
do
C
do
do
do
D
1873
1874
1874
1875
1874
coupon 1852 to ’77
1869 to ’73
Purchase-money bonds—Southern Park
Jersey City—Water loan bonds, mostly
Water loan bonds,mostly coupon
do
do
Morgan street dock
Funded debt bonds
Old Jersey City bonds,
Hudson City bonds
'
coupon
Bergen school loan bonds
Bergen street improvement bonds
do
bounty loan
Assessment funding bonds
Revenue bonds, coupon or registered
Temporary loan
Bonds to fund floating debt. Ac., coup, or reg.
Bonds to pay maturing
Bonds
Kansas City, Mo.—Bonds
Bonds
bonds, Ac
Funded debt
do
Water loan
1874
1873-’75
Real A
Personalty.
$82,684,212
84,490.060
j.
Tax $ 1,000. General Debt
$14^0
$5,943,000
1534
5,982,000
142]0
6,398,000
85,978,005
—-Population, 160,146 in 1880; 92,829 in 1870.
50,000
318,300
510,100
349,600
417,000
957,000
500,000
30,000
300,000
1,000
100 Ac.
1,000
1,000
1,000
1,000
1,000
1.000
1,000,000
1,250.000
Years.
Fall
500
7-3
300,000
300,000
7-3
7-3
73
7-3
6
7
5
7
7
7
7
200,000
1,000
109,500
984,000
1,000
3,329,000
500
517,000
1,000
500 Ac.
2,669,000
1,000
1,000
1,000
1,000
2,630,500
Various
1,000Ac
1,000Ac
Various
1,000
125,000
500.000
558,000
148,750
150,000
400.000
41,000
900,000
400,000
1.213,000
1,353,000
600.000
572.000
288,000
742,500
300,000
107,000
262,000
1,000
500 Ac.
1,300.000
Special Debt.
$750,100
839.800
875.800
.
Populationin 1870, 21,830;
Assessed valuation (true value), tax rate per $1,000
:
Real Estate.
Personalty.
$15,205,795
$6,031,10s
Tax.
$12 50
13.204,715
13,527,090
6,797,890
6.519,820
L2 50
10 0)
Debt.
$1,651,000
1,651,009
1.651,000
JRIvep,|Mass.—The sinking funds amounted to $715,337 Jan. 1,
300,000
180,000
1,000
1,000
1,000
1,000
1,000
4*2
271,000
250,000
226,500
155,000
500,000
203.000
1,000
1,000
1,000
4
10
8
5
6
5 A 6
6
6
6
6
6
6
4 to 7
6
6
7
6
6
90,000
1,000
1,000
population in 1870 was 79,577;in ’80,116,340; in 1883,
The value of water works is $3,315,989, against a debt
130,000.
of $1,555,000.
The water works bonds are issued on a pledge of
the city credit, and $75,000 per year collected in taxes to pay interest on
them.
Assessed valuation, in 1883-^4—real property, $78,982,170;
personal, $26,928,725; total, $105,910,925, which is made on the basis
of true value. Tax rate, $10-89 per $ 1,000.
Elizabeth? N. J.—Default was made in interest Feb. 1, ’79. Suits on
bends are pending.
Total bonded and floating debt Jan. 1,1885, $6,571,499. The proposition to issue 4 per cent bonds at 50 per cent of the
face value of old bonds lias been accepted to some extent and $545,000
of the new issue had been made to Jan., 1885.
Some of the largest
holders have declined to come into the compromise. The Mercantile
Trust Company in New York acts as the agent. Assessed valuations and
tax rate have been as follows: In 1881, $12,296,307, rate, 1-96; in 1882,
$12,182,035, rate, 3*12; in 18^3, $12,471,115, rate, 2-40; in 1884, $12,300,000 (estimated), rate, 2 00. Population 1880, 28,229; in 1870,
and debt have been
May 15,1906
June 1, 1907
April 15, 1908
Feb. 1. 1911
Nov., 1885 to’92
1891
Aug. 1, 1894
May 1, 1895
May 1, 1895
Boston, Revere Bank.
Boston, Bank Redemption.
do
do
do
do
do
do
do
do
do
do
1896-’97-’98
Feb. 1, 1900-1909
Nov. 1,1892-1906
J. A J. Boston, Merchants’ Bank
do
do
J. A J.
do
do
J. A J.
A. A O.
City Treasury.
1883 to’91
Various Galveston, City Treasury.
1893-1909
do
M. A S.
1920
New York or Galveston.
J. A D.
1902
J. A J. N. Y„ Bank of New York.
1890-1906
Various Boston, Merchants’Nat. Bk.
Jan. 1, 1891
Suffolk Bank, Boston.
J. A J.
F. A A. Merchants’ Bank, Boston.
Aug. 1,1884
Jan. 1, 1893
J. A J.
City Treasury.
Jan. 1, 1897
do
J. & J.
10 to 25 years
Town Treasury.
J. A J.
do
$10,000 yearly
J. A J.
do
Jan., 1900
J. A J.
1883 to 1889
Various
City Treasury.
Oct. 1, 1889
do
A. A 0.
Jan. 1,1900
do
J. A J.
do
Jau.AApr.l, 1894
A. A 0.
Jan. 1, 1889 to’90
Jan.
City Treasury.
Jan. 1, 1897
N. Y., Winslow, L. A Co.
J. A J.
do
do
July 1, 1893
J. A J.
do
do
July 1, 1893
J. A J.
do
do
July 1, 1894
J. A J.
do
do
July 1, 1895
J. A J.
Jan. 1, 1899
do
do
J. A J.
J. A J. N. Y., Merch. Ex. N. Bank. Jan., 1889 to 1909
1899 to 1913
do
do
Various
Feb. 1, 1913
do
do
do
do
July 1, 1913
J. A J.
do
do
May, 1891
M. A N.
1892
to 1906
do
do
Various
June 8, 1900
do
do
J. A J.
do
do
May 1, 1897
M. A N.
1889-1890
do
do
Various
1,000
1,000
The
Evansville, Ind.—No floating debt.
April 1, 1906
6
6
6
1,000
12,035; in 1880. 22,400.
Detroit. Midi.—1There are also $10,000 House of Correction bonds
in 1880, 29,280.
F. A A.
M. A N.
1912
1898
1899
1890
1895
1895
200,000
400,000
300,000
100.000
value of property $7,200,000, which is
Tax rate, $5 per $100. Warrants out¬
standing Jan., 1885, $90,082; cash on liana, $51,275. The renewed
judgment bonds for $170,000 are paid off July, 1885. Populationin 1870,
'
5 g.
5 A 6
4
5 A 6
July 1,
Mai It
May 1,
Dec. 1,
Dec. 1,
July 1,
M. A N.
F. A A.
.
20,832.
—(V. 39, p. 581.)
1885 to 1906
1886 to ’91
1892 to’97
1899
1879 to’81
1882 to’95
1882 to’93
1882 to’86
1885 to’96
1907
1886
6
6
Des Moines, la.—Assessed
about 20 per cent of true value.
due 1893.
N. V., First Nat. Bank.
Various
do
do
Various
do
do
F. A A.
do
do
F. A A.
Various
City Treasury.
do
Various
do
Various
do
Various
do
A. A O.
do
J. A D.
do
M. A N.
4
J. A J. N. Y., Mercantile Trust Co.
M. A N. N. Y., Farmers’ L. A Tr. Co.
7
do
do
M. A N.
7
do
do
J. A D.
7
do
do
7
J. A D.
do
do
7 3-10 J. A J.
do
do
A. A O.
7
do
do
M. A N.
7
do
do
J. A D.
6
do
do
6
do
do
F. A A.
6
City Treasury.
3?8, 4, G Various
do
Various
6
4 to 7
7
6 A 7
4
7
7
7
7
7
7
7
550.000
500 Ac.
1884
1862 to ’75 5000Ac.
Lawrence, Mass.—Sewer loan
Years.
1879
18S0-’l
due.
whom.
payable
450,000
200.000
1872
1871-’72
1872 to’74
1870
1872
1864-’65
1864-’70
1868-’70
1869
1865
1875-’76
1876
Rate,
payable and by
1,000
Water loan
Forty-year bonds
Improvement bonds
Where
When
1,000
1,000
1871-’74
Holyoke, Mass— City notes
City bonds, sinking fund
Water loan
Railroad loan
200,000
543,500
250,000
100,000
1.000
500 Ac.
1000Ac.
^
do
do
do
do
Water loan
do
do
do
Principal—When
Amount
Size 01par
value.
7
7
7
7
7
7
7
7
’84-’85-’89A1900
Jan., ’98 to 1900
do
do
do
do
do
do
do
do
do
do
do
do
Various
J. A J.
J. A J.
Various
Various
J. A D.
Aug. 1, 1899-1905
May 1, 1908-1909
July 1, 1893
July 1, 1891
July 1, 1905-1906
Oct. 1, 1903.
July, 1889
1889
1905-1906
June 1, 1886
Demand,
5^
F. A A. N.
6
5 A 6
6
7
8 A 6
4
6
6
6
Feb.l, 1909
Y., Merch. Ex. Nat. B’k.
1910-1911
do
do
Various
1904
New
York, Kountze Bros.
do
do
Lawrence or Boston,
J. A J.
Various
J. A J.
A. A O.
Boston, Tremont Bank.
do
do
do
do
1890 A ’97-1898
’93 to ’97 A 1901
1885 to 1892
July 1, 1894
Oct. 1, ’90, to 1906
1885.
Total debt, including water debt, $3,467,861.
48.961 in 1880; 26,766 in 1870.
Valuations in 1883.
Population,
Real estate,
$26,152,300; personal. $26,152,300.
Fitchburg) Mass*—Population 12,270 in
$1,000, Ac.:
Pers'i Prop’ty. Tax.
Valuation, tax rate per
Real Estate.
Years.
1882
$7,484,625
$2,628,911
1884
1885
3,055,653
7,998,725
—The assessed valuation of real estate
Debt.
19 00
$831,023
16 80
850,000
16 40
16 40
2,719,979
2,746,428
7,672,655
7,705,450
1880; 11,260 m 1870.
Sink.Fd.Jan.l.
800,000
850,000
is about the cash value.
$158,449
114,506
146,522
178,311
Texas.—Assessed value of real and personal property,
Tax rate, $1 50 on $100; 1882-83, tax rate 13i0‘
In April, 1882, the Galveston County 10 per cent bonds were called in
and 6 per cents issued instead. Population in 1870,13,812; in 1880,
Galvestoii)
1881-82, $17,625,862.
22.248; 1882, estimated, 32,000.
Hartford, Conn.—Total city debt,
April 1, 1884, $2,837,000; net,
$2,032,224; net town debts, $1,271,188.
for $20,000.
Assessed valuation in 1883,
$46,000,000. Population, 42,553 in 1880; 37,743 in ’70, 30,000 in ’83.
Holyoke, Mass.—Bonds all coupon, but can be registered. Total net
debt, $817,318. Valuation, 1883, $14,397,250; tax rate, $14 40. Valu¬
after deducting resources,
There are also sewer bonds
ation in 1884,
$15,527,995; tax rate, $14 80.
1880; 10,733 in 1870.
Population, 21,915 in
f
^
Indianapolis.—The School Board is a distinct organizat’n and levies
its own tax ($2 20 for 1884), which is included in tax rates. There
Valuation and tax
area few other small issues amounting to $50,000.
per
$1,000 have been:
Real Estate.
“
Personaltv.
Total.
$39,063,725
$12,837,492
$51,901,217
39,315.725
39,335,860
40,149,950
13,891,650
*
~
‘
Years.
13,296,870
13,792,290
52,612,595
53,128,150
54,041,600
m
Tax.
1070
11*20
11 20
12-20
—Population, 75,056 in 1880 48.244 in 1870.
Jersey City.—One of the main causes of trouble in Jersey City
finances has been the failure to collect back assessments and in the
immense value of railroad property exempt from taxation.
Tot. taxes overdue Dec.31.’84 less deduct’nsdue State and Co.$4,006,879
Total assessments due and unpaid
2,842,145
CITY SECURITIES.
10
Subscribers will conifer
a
great favor by giving immediate notice of any error discovered In these Tables.
For explanations see notes on first page of
Size or
Amount
outstanding.
par
Value.
Date of
Bonds.
DESCRIPTION.
tables
$.
Lewiston. Me.—City bonds <$50,000 each year).
City bonds
Bonds
Bonds
New bonds
Water bonds
m
m
»
m
„
Public school and school houses
Sewer bonds
do
Elizabeth A P. Railroad
Wharf property
^
^
• • •
m m
m
m
500 Ac,
1883
Louisville, Ky.—Water works
For improvement of streets
For municipal improvement
Re-constructing street
Public buildings and institutions
081
•..
•
1,000
1,000
500 Ac.
-
*54/62,3,8
1869
1871 to ’74
1868
do
do
1871
Louisville, New Albany & St. L. Air Line RR.
1871 to’73
Road bed, Louisv., Cin. A Lex. RR
City bonds payable by Louisv. & Nash. RR... 1851 to’63
1880
Old liabilities (half are 10-40 and half 20-40).
1,000
1,000
1,000
,
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
Bridge notes
Lynn, Mass.—Water notes
^
City Hall and School House
Manchester, N. H.—City bonds
City bonds
4*2
350,000
1,408,000
1,000,000
469,300
1,000
Large.
Large.
1,000
1882 A ’83
1,000
1871 to ’81 Large.
1870
1,000
Sewer bonds
Water notes
Water bonds
Sewer notes
131,000
73,000
513,000
485,000
Lowell, Mass.—City notes (various purposes). . 1862 to’84
1882
Bridge notes
1882
Bridge bonds
«..
200,000
120,000
382,500
575,000
1,300,000
176,500
1883 A 84
1883
1870-’3-’5 Large.
Various
1,000
Various
500 Ac.
Various
1,000
m
m
m
m m .
&
77,000
121,500
•
•
•
....
....
do
Heater bonds ($100,000 each year)
do
do
do
Bridge bonds.
Memphis, Tenn.—School and paving bonds......
Post bonds
Funding loan, gold.
coupon
refunding
Minneapolis, Minn.—City bonds
City bonds
do
do
do
1872
1881
1867 to’68
100 Ac.
100 Ac.
100 Ac.
60,000
o
1867, ’8, ’9 500 Ac.
1870
.
Mississippi River Railroad bonds
Endorsement Memphis A Little Rock RR
Compromise bonds, coupon (Flippen)
New compromise bonds
Milwaukee, Wis.—Re-adjustment bonds
General city bonds
do
do
(not liable to be called in)
Bridge bonds
Water bonds, coupon
do
registered
do
Waterworks
1874
•§§
1,000
|8
1857
1,000
1877
1,000
1883
1,000
1861
500 &c.
1871
1,000
1876
1,000
1882-’S3
1,000
1872
1,000
1872
10,000
1883
1883-’84
1,000
1870 to *75
1871 to’77
1879
1870 A *81
1881 to’85
1,000
500
1881
1870 to’81 100 Ac.
-
-
•
m
m
m
to
.
.
m
.
1,800,000
191,500
218,000
98,000
160,000
365,000
1,063,000
143,000
293,000
640,000
360,000
'
<p>
40,000
51,000
1,367,000
2,221,500
1,417,400
1,510,000
500,000
....
($366,000 due 1912 are red. 1902).
Mobile^-Funding bonds
Nashville. Tom.—Various city bonds
Newark—War bds.,tioat’g debt, Ac, (s.fd. of ’64)
Public school bonds
1875
Clinton Hill bonds, coup. & reg. (s. fd. 3 p. c.).
Corpora te bonds, coup, or reg.(act Apr. 21,’76) 1878-’80
1871-’79
Bewer and improvement bonds (local liens). .
Aaueduct Board bonds
1876-’78
Tax arrearage bonds
1879 to ’83
do
do
New Bedford, Mass.—Bridge and city bonds
1861-’74
1875
City improvement
1876
Water bonds...
1867 to ’76
do
1872-’74
do
1884
do
1881
Sewer bonds
1871
New Haven, Conn—Sewerage
1867
For Derby Railroad ($20,000 payable yearly)
1877
City bonds (10-20 bonds)
New Orleans—Consolidated debt
1852 to '64
1883
Consolidated debt, extended
1883
Ten year certificates to fund coupons
1854-55
Railroad debt
1869
Seven per cent funding loan of 1869
....
....
1,000
1,000
1,000
1,000
1,000
1,000
1,000
400,000
1,200,000
2,450,000
3,240,000
888,000
872,000
30,000
223,000
100,000
400,000
180,000
100,000
50,000
499,000
40,000
1,000
....
10,000
1,000
1,000
1,000
5,000
1,000
1,000
1,000
1,000
1,000
1,000
150,000
2,229,000
2,071,000
1,865,815
....
1,000
■
rH
-
6
-
....
243,000
567,750
When
Where
Whom.
J. A D.
J. & J.
City Treasury and Boston.
4
6
J.
8*
M. A N.
7
6
3-4
5
7
7
4
7 '
7
4
4
8
7
6
5 & 10
4^2
3 to 5
6
6 & 7
7
7
5 & 6
7
7
7
5
6
6
5
6
7
4
4
7
6
5
6
6
6
6
7
Due.
Payable
A D.
A J.
A. A 0.
Various
Various
J. A J.
J. & J.
Various
Various
J. A J.
J. & D.
Various
Various
A. & O.
J. & D.
Various
M. & S.
J. & J.
Various
M. & N.
Various
M. & N
M. & N.
Various
Various
M. & N.
Various
Various
Various
J. & J.
Various
Various
J. & J.
A. & O.
M. & N.
J. & J.
J. & J.
J. & J.
4
5
6
6
4
7
7
6
6
7
7
6
6
6
7
7
7
6
5
1 to 6^
4
4
4
6 to 6^
6
4
4
6
Principal—When
Payable and by
•
J.
J.
do
do
do
do
1894 A 1899
July 1, ’93-1913
0ct.l,’97-1907-’17
N. Y., Bank of America.
1887, ’89, 97 '
Louisville.
1886,’ 96, ’97
1923
New York City.
N. Y., Bank of America.
do
do
New York, U. S. Nat. Bank.
July 1, 1903
1891, ’92 A 1903
Louisville, City Treasurer.
July, 1898
June, 1901
-
1885 to ’89
N. Y., Bank of America.
1888 A 1903
do
do
1885 to 1898
Louisville and New York.
Oot. 1, 1898
do
do
1889
do
do
1894 A 1901
do
do
N. Y., U. 8. Nat, Bank.
Sept., 1891
N. Y., Continental Nat. Bk. July, 1901 A 1903
1886 to ’93
New York and Louisville.
N. Y., Bank of America.
May 1, 1920
1885 te 1894
City Treasury.
1891 and 1892
Boston.
1892
do
1884 to 1903
do
»
1886 to 1911
1890
City Treasury.
Boston.
10 perct. annually
10 per ct. annually
1885 to 1890
1891 to 1913
City Treasury.
do
-City Treasury.
Boston, Bank Republic.
do
do
City Treas’ry & Bk. Repub.
City Treasury.
do
Suffolk Bank, Boston.
do
do
City Treasury.
do
j
Memphis.
A J.
J. & J.
J. & J.
1888
July 1, 1901
July 1. 1885
do
6
986,200 3^2 to 6
595,000 5, 5*2, 6
313,000 370, 4, 6
6
85,000
6
80,000
6
70,000
6
200,000
6
400,000
•
Rate.
6
-
1,000
INTEREST.
$50,000
185,000
30,000
200,000
474,000
1,212,000
198,000
1,500,000
600,000
650,000
102,000
81,000
423,000
1,863,000
165,000
133,000
m
1857 to’67
1866 to’67
1883
1873
1871 to ’73
1853 to’69
1868
1871
1868 & ’73
Jail bords
For old liabilities
-Water bonds..
Funded debt
[Vol. XL.
Charleston, S. C.
N.
Y., Bank of New York.
New York.
1884 to 1896
1886 to 1890
1884-1894
April 1, 1884-’85
May 1, 1893
July 1,1890 A’95
1887-’92-’97-1902
July 1, 1911
1873 to 1902
1873 to 1900
Nov., 1900
July, 1-872
1907
1913
June 1,1891
Jan. 1, 1901
June 1,1896
J. A D. Mil. A N. Y., Morton B. A Co.
do
do
J. & J.
do
do
J. & D.
do
do
J. & J.
July 1,1902
do
do
J. & J.
Jan. 1,1902
do
do
Jan. 1,1902
J. & J.
do
do
1903
J. & J.
do
do
J. A J.
1903-1904
Various New York, Nat. Park Bank.
1886-1905
do
Various
do
1897-1902
do
do
Various
July 1, 1899
do
do
Various
1885 A 1893
do
do
Various
1906 to 1915
J. A J. N. Y., Merchants’ Nat. Bk.
Jan. 1, 1906
Various New York and Nashville.
1882 to’99
1885 to ’96
Various
Newark, City Treasury.
do
.
do
A. & O.
April, 1888, to’ 92
J. & J. Newark, Nat. State Bank.
July 1, 1895
do
do
1908 A 1910
Various
do
do
M. & S.
1886, ’93 A 1909
do
do
1879 A1892
Various
do
do
F. & A.
1886-’90
do
do
F. & A.
1891-’92
A. & O.
1884 to 1890
City Treasury.
do
1891 to 1910
A. & 0.
do
1900 to 1904
A. A 0.
do
A. & 0.
1885 to 1909
do
1884 to 1909
A. & 0.
do
1894
do
A. A 0.
1887 to 1891
Oct. 1. ’91A1901
A. & 0.
City Treasury.
do
A. A O.
Oct. 1, ’B2 to ’86
do
J. & J.
July 2,1887-’97
New Orleans.
1892
J. A J.
*
do
1922 A 1923
J. & J.
do
1893
J. & J.
do
1894 A 1922
Various
do
March 1, 1894
M. & S.
-
city January, 1884, was $18,503,950; sinkinc cent of true value, tax rate per $1,000, Ac. were in 1882; Real estate.
Population in 1880, 120,722, against 82,546 in $15,379,324; personal, $3,796,084; tax rate, $16 20 per $1,000. Popu¬
1870. Taxable valuations and tax rate per $1,000 have been:
lation, 32,630 in 1880; 23,536 in 1870.
Years.
Real Estate.
Personal Prop.
Tax Rate.
memplils,]Tenn.—The city was in default for interest after Jan. 1,
$54,122,875
$5,343,815
$28 00 1873. The Legislature passed a bill,
January, 1879, repealing the city’s
54,619,565
4,786,037
29 80 charter, and the “Taxing District of Shelby County” was organized.
5,640,300
29 00 The compromise bonds of 1877 were issued at 50 cents on the dollar.
56,125,552
4,664,390
29 40 Under the act of Tenn. March 3,1883, new compromise bonds are issued,
58,287,892
Estimated tax rate in 1883-84, $32*80 per $1,000. V. 37, p. 667.
bearing 3 per cent till January, 1884,'" then 4 per cent till. 1887, and 6Kansas City,
In 1883 assessed valuation was $26,755,315 per cent thereafter. (Bee details, V. 37, p. 202.) The total debt when
and tax rate 16 mills. In ’84 valuation, $28,412,330; tax levy, 15 mills. funded will be nearly $3,000,000. The assessed valuation of property is
Lawrence, mass.—Total debt, $1,764,000. Sinking fund, $170,553. about $15,000,000 and tax rate $3 40 on the $100. Population in 1870,
Tax valuation,
1882,
$26,269,506; tax rate, $16 60.
In 1883. 40,226; in 1880, 33.592. (V. 38, p. 60. 455, 509 ; Y. 39, p. 727.)
vaL $26,932,560; in ’84, $27,261,661. Pop., 39,151 in ’8f0; 28,921 in ’ 70.
milwaukee. Wis.—The city cannot issue debt beyond 5 per ct. of its
The total debt of the
funds, $1,400,894.
Lewiston, me.—Total net debt, March 1,1884, $894,196; sink, fund
$115,160. The railroad bonds were issued to build the Lewiston A Auburn
RR.. which is owned by the cities of those names. Valuation in 1883,
$10,679,926; tax rate, 2^ p. ct.; in 1884, valuation, $11,107,166; rate.
2lio- Population, 19,076 in 1880; 13,600 in 1870.
Louisville.—The funded debt, Jan. 1,1885, exclusive of loans paya¬
$9,167,000, against $9,305,000 Jan. 1, 1884. The
Jan, 1, 188 >, amounted to $4,703,254. Population by
ble by railroads, was
sinking funds
on
was 100,753, against 123,758 in 1880.
The following
figures give the assessed property valuation: 1881, $68,753,770; 1882,
Census of 1870
$70,029,724, of which $52,269,684 was realty.
In 1383 valuation
average assessed
value for five years. In 1884 valuation was $75,951,750.
Sinking funds are provided, and all old issues except the general bonds
due 1896 may be called in and paid by siuking fund; holders were misled
because this was not stated in the bonds. Population* 71,440 in 1870;
in 1883 (estimated), 130.000. (V. 38, p. 424.)
minneapolls. minn.—Total debt, $2,461,000 April 1,1885; siuking
fund. $116,437; tax valuation, 188 v $54,901,812; in 1884, $74,310,711;
bonds all coupon; tax rate 1885,17*8 mills. Population,46,887 in 1880;
13,066 in 1870; estimated, 110,000 in 1885.
mobile.—Interest was in default from July, 1873. A settlement with
bondholders was offered by act of March 9, 1875. In Feb., 1879, the
.
$66,118,534. tax rate 2*10; in 1884, $63,927,077, tax rate 210; in Legislature repealed the charter of the city. In Oct., 1880, bondholders
offered to take new 25-year bonds, bearing 3 per cent for 5 years, 4 per
1885, $62,763,461, tax rate 2*48. (V. 38, p, 509.)
Lowell, mass.—All the notes held by savings banks. Water loan cent for 15 years, and 5 per cent for 5 years. In Dec., 1882, the un¬
sink ng fund Oct. 1.1884, $415,470: other sinking funds, $227,649. Pop. funded debt was estimated at $188,555.
Valuation of real ami per.
59,475 in 1880; 40,928 in 1870; 75,000 in 18»4. Assessed valuation sonal property in 1882. $15,563,130; tax rate, $6 per $1,000. Popula¬
in 1883 tfere: Real estate, about $35,057,275; personal property, $14,- tion, 31,297 in 1880; 32,034 in 1870.
Nashville. Tenn.—Assessed valuation of all property In 1881 was
895,526; tax rate, $15 20; in 1884, valuation, $36,510,201 real estate
and $14,671,684 personal; tax rate, $17 50.
$12,179,450 real property and $3,070,125 personal: tax rate, $20 per
Lynn, mass.—Total debt, Dec.. 1883. $2,260,700; net debt, $1,614,- $1,000. Population, 43,350 in 1880 ; 25,865 in 1870.
367. Valuation ’83, $24,687,524; rate, $19 60 The tempor'y loan due May
Newark.—The bonds in the first line in the table are payable out of
1,1884, is $160,000. Population, 28,233 in 1870; about 45,000 in 1883. the sinking fund of L864, which amounted Dec. 31,1833, to $1,630,8071
manchester, N. H.—There are also $16,000 5s due before 1885. publio school bonds out of public school fund, $442,431: Clinton Hill
Total uebt Jan. l, 1883, $927,500
Assessed valuations about 70 per bonds by sinking fuud $151,738; tax arrearage, $808,095; corporate
CITY
April, 1885.]
Subscribers will confer
a
great favor by glvlug immediate notice of any error discovered in these Tables.
DESCRIPTION.
For explanations see notes on
Size
Date of
Bonds.
par
first page o f tables
3810.$34,7956
Croton water stock
Additional Croton water stock
Additional water st/x*k< red’m’ble after 1913
Croton water main stock
Croton Reservoir bonds
Central Park fund stock
do
do
Central Park improvement fund stock
do
do
City Cemetery stock
City improvement stock
do
do
(eons., $687,803 red. aft.’96)
City impr. stork (cons, st’k), cp., exch. for reg.
City Lunatic Asylum stock
City parks improvement fund stock
Consolidated stock, county, coup., ex. for reg.
do
do
city,
do
dock bonds
do
do
city pks. impr. fd. st’k,do..
do
red. aft. 1908, cp. ex. for rg.
do
do
do
do
do
do
city, coupon exch. for reg..
city. (A)
do
city
countv
(A A B)
city (B A C)
city (DEAF)
citjr (G K L & M)
1847 to ’52
1871 to’85
100
500
500
500
100
100
100
100
100
100
500
500
500
1(M)
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
500
100
1883 to’Si
1871 to’81
1866
L857 to ’59
1856 to ’58
1857 to ’60
1865 to’71
1869
1869 to ’78
1S76 to ’80
1874
1869 to ’70
1871 to’30
187 L & ’72
L871 A ’72
187L
1872
1878
1874-’75
1872 to ’74
1874
1874
1876-’77
1877 to’34
1880
1881
1870 to ’84
1884
l869-’70
1867 to’69
1873 to’31
1879 to ’84
1874
1869 to’75
1876
1876 to’80
1880 to ’83
1871
Normal school fund stock
1871 A ’72
N. Y. Co. Courthouse st’k, Nos. 1, 2, 3, 4 & 5.. 1862 to ’82
1870
New York Couuty repairs to buildings stock..
N. Y. aud Westchester Co. improvement bonds
1871
Public school building fund stock
1871 to ’74
School House bonds
1384
Sewer repair stock
1374 A ’75
Street improvement bonds
1869 A ’70
1864
Soldiers’ bounty fund bands
do
do
No. 3
1865
Soldiers’ bounty fund red. bonds, No. 2
1865
Tax relief bonds, No. 2, coup. exch. for reg
1S70
Third District Court-house bonds
1874 to ’77
Water stock of 1870
1872
Debt of aunexed territory of Westchester Co.
Trust and
..
100
500
500
100
100
500
500
500
500
500
100
500
500
500
.
1870-’74
1881
paving, coup
1872-’73
Coupon bonds
1871
Coupon bds.. water (a mart, on water works)..
1877
Norwich, Conn— City bonds
Water loan ($50,000 1390, $250,000,1898).
’68, ’78, ’80
..
Court House
Sinking fund bonds
1875
1873
1883
Funding 10-30s
Paterson^.v. J.—School bonds
Funded debt bonds
Sewerb’ds ($145,000areM. AS. &$90,500 5s)..
outstanding.
'
500
100
100
100
100
500
500
500
500
100
100
100
100
1,000
1,000
1,000
1,000
18 59-’73
500
1862-’71
500
500
l*69-’82
•$375,750
86,000
2 0,1 >00
140,000
183,100
When
Rate.
Value.
do
consol, st’k (Biker’s Isl’d)..
Dock bonds
Consol, stock (Metropolitan Museum of Art
Fire Department stock
Market stock
Museums of Art and Natural History stork.
N. Y. City bds.for const.of bridge ov. HarlemR.
N. Y. City bds for State sinking fimd deficiency
N. Y. Bridge bonds.
do do Consol, stock, redeem, after ’96
do do $500,000 af.’96,$1,121,900 af 1900.
do do $750,000 af 1903, $416,666 af. 1905.
Ninth District Courthouse bonds
Norfolk, Va.—Registered stock
Coupon bonds ($20,000 6s are J. A J.).
Coupon bonds of 1881 (exempt)
INTEREST.
Amount
or
New Orleans—(Continued)—
1870
Seven per cent funding loan of 1870
$....
Jefferson City (debt assumed)
’57,’67,’70
Street improvement bonds
1871
1,000
Consol, gold bonds (gen’l and drainage series).
1872
1,000
Ten per cent bonds, deficit and old claim
Various.
1871
Premium bonds (in exchange)
Park bonds
~
1883
1,000
Newton, Mass.—City bonds and notes
1867 to ’84 1.000Ac
Water loan ($600,000 6s)
1875 to ’84
1,000
New York—Accumulated debt bonds, city....
100
1869-’70
Accumulated debt bonds, countv
100
1869-’70
500
1884
Armory bonds
Assessment bonds....
500
1879 to ’84
Assessment fund bonds
500
1884
Assessment fund stock
L868 to’83
500
Additional new Croton Aqueduct stock..
500
1872 to ’77
-
11
SECURITIES,
D.j
J. A
Various!
F. A AJ
q -j. ;
A. A
J.
Principal—When
due.
payable and by
Whom.
payable
7
8
6 A 73
6 A 7 g.
10
5
6
8,107,*60
126,000
338,350 5, 6 A 0*2
965,000
4, 5, 6
7
5,209,300
Where
O.j
A J6
New Orleans.
do
do
New York or London.
New Orleans.
1895 A 1922
1887 to 1897
1911 A 1922
New Orleans.
Jan. 1, 1923
July 1, 1922
April i, 1881
Variousj
1884 to 1914
City Treasury.
Various' Boston, Comm’nwealth Bk July 1, 1905 to ’14
M. A N.j i
r Nov. 1,1885, to ’88
7
M. A N.
Nov. l,t 885, to’88
4,800,000
3
M. A N.
1,172,000
Aug. 15. ’94,1904
Nov. 1,1885, to ’92
5,450,299 3,312,4,5 M. A N.
5
9.950
'
Nov 1, 1885
1887,1903 A 1910
Aug. 1, 1900
Feb. 1, 1890
Nov. 1, 1891, ’99
Oct. 1, 1933
M. A N.
3,277,050 4,5,6 A 7 M. A N.
1,331.300 5, 6 A 7 M. A N.
5 A 6
321,400
Q.-F.
o
p«
£
O
6 609,000 3U> to 6, 7 M. A N.
©
3, 3 >2 Ia. a o.
445.000
■v
Nov. 1,1900-1906
5,196,000 4,5, 6 A 7 M. A N.
©
6
20.000
Aug. 1, 1907
Q.-F.
be a
6
Nov. 1, 1887
3,066 071
Q.-F.
5 A 6
674,300
July 1, 1898
Q.-F.
6
2.083,200
Aug. 1, 1887
Q.-F.
6
June l,1895
1,766,600
Q.-F.
7
M. A N.
Aug. 1,1888
+-*.9
75,000
Nov. 1,1889 A’92
<U ac
7,977.515 5, 6 A 7 M. A N.
5
A
6
A
1900 A 1926
M.
N.
701,419
6 g.
Nov. 1, 1896
M. A N.
820,000
axi
»- ©
6 A 7
M. A N.
700.000
Aug. 1, 1889
1901-1904
4,799,000 5, 6 A 7 M. A N.
pd
o g.
J. A J.i
8.885.500
July l, 1901
6 g.
J. A J. j
July 1.1901
4,25 2,500
6 g.
J. A .T.
July 1, 1901
1,000,000
0
Jan. 1. 1902
J. A J.
5 *■<
862.000
5 g.
M®
Nov. 1, 1928
M. A N.
6,900,000
6 g.
Nov 1, 1896
M. A N.
1,564,000
6 A 7
Nov. 1,1894
M. A N.
2,455.000
7
Dec. 1, 1896
J. A D.
1,6*0,200
7
J. A 1).
Dec. 1, 1896
-22 o
6,324,700
5 A 6
M. A N. )■
May 1,1916, A’26
1,858,349
*23
£ 3S
4 A 5
M. A N.
Nov. 1,’89.’97,’99
941,135
© ©
4
M. A N
Aug., 1894
2,800,000
3
Nov. 1, 1910
M. A N.
180,000
O ctf
3 to 7
Nov. 1,1601-1915
M. A N.
11,053,000
•r
ce
3
Nov. 1,1905
M. A N.
f-i a
25,000
6
Nov. 1,1899
M. A N.
521,953
©•~
6 A 7
M. A N.
296,000
May 1,1894 A’97
May 1, 1903
958,000 4, 5 A 6 M. A N.
Nov. 1,1891
41*9,500 3, 4 A 5 M. A N.
a2
7
M. A N.
779.899
May 1, 1885-’86
o
6
Nov. 1, 1905
M A N.
1,500,0(10
6
M. A N.
May 1, 1926
500,000
5
May 1,1926
1,921,900
Q-F.
Uc
A
4
5
M.
A
N.
May 1, 1928
1,166,606
Ci
Nov.
7
M.
A N.
300,000
1,1890
03 rH
6
M. A N.
Nov. 1,1891
©VI
200,000
Nov. 1, 1885-’98
3 ®
1,933,100 4,5,6 A 7 M. A N.
6
Nov. 1, 1885-’88
M A N.
80.000
6
Dec. 1, 1891
51. A N.
aS g
30,000
6
M. A N.
Nov. 1,1891
636,000
GO
3
M. A N.
Aug. 15, 1894
332,00 *
6
M. A N.
Nov. 1. 1885 A’86
103,000
©
6
Nov. 1,1888
M. A N.
606,900
6
Nov. 1, l885-’90
M. & N.
3,000,000
5
rj
/
Yf. A N.
Nov. 1,1895-’97
745,800
a
M
Nov. 1,1891
7
M. A N.
376,600
7
M. A N.
Nov. 1,1890
3,000,000
Nov. 1, 1890
5 A 6
M. A N.
398,000
6 A 7
M. A N.
Nov. 1,1902
475,000
1885 to 2147
7
Various
797,500
6
J. A J.|] Norfolk, Treasurer’s Offloe.
1885 to 1900
332,993
5 A 6
do
do
J. A
1894-1900, 1912
591.600
5
do
do
A. A 0.1
320,000
April 1, 1911
A. AO.|
do
do
8
290,800
Apr., ’92, July, ’93
5
1913-1914
180,000
1901 A 1914
500.000
5 A 8
M. AN.I New York, Park N. Bank.
5
A. AO 1
Norwich.
April l. 1907
160,000
do
1898, 1908 A 1910
300,000 5, 6 A 7 Various
Jan. 1,1905
7
I. a J.;
do
161,000
5
A. A
do
50.000
April 1, 1908
4
1913
125.0U0
7
J. a'd
Dec., 1884-1904
79,500
City Hall, by Treasurer.
1884 to 1900
7
lOu.OOO
j. ad;
do
do
1884-1902
do
do
423 500
5, 6. 7 Various1
$167,987; street improvement and sewerage, $70,270, and
assessments, $1,571,345. The Aqueduct bonds are not a direct lia¬
bility of the city of Newark. Real and personal property have been
assessed at near the true value as follows: 1881, real estate, $66,278,825; personal, $18,974,770; tax rate, $2 10; 1882, real estate, $67,463,555 ; personal, $17,989,370; tax rate, $2 44. Population in 1870,
105,059, against 136,508 in 1880.
New Bedford, RIass.—Population, 26,845 in 1880; 21,320 in
1870. Assessed valuations (true value), rate of tax, Ac., have been:
‘
Personal Rate of Tax Total Debt:,
Tru-d;
Years.
Real Estate.
Property, per $1,000. Bonds.
Funds.
1881..
.$13,505,400 $13,609,922 $18 OO $1,084,000 $104,100
14,138,300
13,974,587
17 50
1,024,000
101,100
15,109,300
15,180,305
16 80
1884
15,635,900
15,718,182
16 60
1,083,000
104,100
New Haven, Conn,—Municipal bond fund, $37,011.
The city
made a special loan of $75,000 to the New Haven A Derby RR., and
guar. $225,000 of its 2d mort. bonds. Popula. in 1870, 50.840; in 1880,
62,*82. Assessed valuation (about 80 p. ct. of true value), tax rate, Ac.,
bonds,
.
•
la
.
eg
■
l
£3
S'2
•rH
J.j
O.j
I
Sinking funds, Jau. 1, '85, $168,871.
Tax valuation, ’81, $29,607,999
;,
’81, $14 00 per $1,000. Valuation in ’82, $29,409,323; tax rate
$14 20, In 1883 valuation $27,124,088. In 1884 valuation $27,814,561,
tax rate, $14 40.
Population 16,994 iii 1880, 12,825 in 1870.
New York City.—The total debt of New York, January 1.1835, was
$L26,871,138 ;' the amouut of sinking funds, $34,823,735. The follow¬
ing statement shows the details of funded debt and the amount in the
city sinking fund at the dates named:
Description.
Jan. 1, 1883.
Jan. 1, 188 4.
Jan. 1, 1885.
Total funded debt
$130,474,337
$130,680,571
$126,-71,138
rate in
Sinking fund
34,332,338
38,134.545
34,823,735
$96,141,948
$92,546,026
$92,047,403
4,246,534
2,933,833
2,358,825
.
have been:
Years.
Real Estate.
Personalty.
Net funded debt.
Revenue bonds
Total net debt
The population of
$100,388,482
$95,529,909
$91,406,228
New York, by the United States Census in 1870 was
912,292. and 1,206,299 in 1890. Since Jan. 1, 1865, the valuation, rate
of taxation, and net funded debt at end of year have been as follows:
.—Rate Tax p.
Rate of Tax. Tot. D’bt. Skg.Fds Ac
Net Debt.
$1,000
9 mills.
$854,000 $176,392 Years.
Dec 31.*
State. City.
Estate.
32,966,440
774,000
10 mills.
J69,214 1865....
$35,973,597
$427,360,384 $18',423,471 $4 96 $24 94
34,228,112
11 mills.
734,000
132,192 1872....
5 20 23 81
95,467,154
797,143,665
306,949,422
1884
11 mills.
36,298.114
714,000
6 65 21 35
114,979,970
1874t
272,481,181
881,547,995
7 27 22 13
New Orleans.—In June, 1882, a law was passed to issue new 6 per 1875....
118,773,721
217,300,154
883,643,545
6 51 21 49
cent 40.year bonds for all old bonds other than premiums; the extended 1876
119,811,310
218,626,178
892,428,165
bonds run till 1923, but are redeemable after 1895. Certicates were 1877....
3 78 22 72
117,700.742
206,028,160
895,063,933
3 56 21 94
issued for overdue coupons to Jan. 1, 1883, and though made for teii 1873....
113,418,403
197,53 \075
900,855,700
3 43 22 37
109,425,414
918,134,380
years the certificates are payable at option. The assessed valuation of 1879....
175,931,955
3 12 22 18
106,066,240
942,571,690
201,194,037
property, real and personal, for 1882 was about $103,177,249. A scheme 1«80....
for settling the debt by a bond premium drawing pi in is in practice, and 1881....
22
60
3
60
102,618,801
976,735,199
209,212,899
-—22 50-*
10i',3 88*483
drawings take place January 31, April 15, July 31 aud October 15 In 1882.... .1,035,203,816
198.272,582
22 90
95,529*909
March, 1884, the total hooded debt was $15,965,720; and floating debt, 1883....
197,546,495
.1.079,130.669
22 50
94,406*228
..
.4
8
8
$1,420,535;
also judgments,
$721,812, coupons
213,536,746
n >t yet1
funded into
.1,119,761 597
certificates.
..
.5
8
1
.1.175 057.885
$500,000; Gaines
on appeal, $1,925,667;
judgment 8
total
liabilities. $20,533,000. Uncollected back taxes, $1,850,494. Popu¬
Less sinking funds.
i Annexed towns included.
lation in 1870, 191,418; in 1880, 216.099.
The reduction between the amount of taxation in the years 1874 and
Newton, flla»a.—There are also $25,000 Park bonds>4s, due 1908. 1880 was about $3,400,000. There was, however, no substantial reduc ...
$13,097,158
13,639,376
14,171,224
14,271,224
Real
Estate.
.
.
.
.
.
...
.
.
.
.
.
.
*
Personal
SECURITIES.
CITY
12
L Vol. XL
INTEREST.
outstanding.
1864-’65
$500
100 &c.
500
50 Ac.
50 Ac.
50 Ac.
50 Ac.
50 Ac.
50 Ac.
50 Ac.
50 Ac.
25 Ac.
$3&7,500
1877
Bonds.
For explanations see notes on
first page of tables.
Paterson, N. J.—(Continued.)—
War bounty bonds
Funding bonds, “A”
1877-’78
and “C”
Philadelphia—Bonds prior to consolidation —
Bonds for railroad stock subsidy aubscript’ns
Renewal bonds,* ‘B”
.
1855
1855
1859
1868
1862
1860
for water works
for bridges
for park and Centennial
for war and bounty purposes,
municipal, school, sewer, Ac..
Guaranteed debt, gas loans
do
do
do
do
do
Four per
cent loan (“A” to “ Y”)
to’71
to ’70
to ’70
to 65
to ’70
1879
....
8235811
do
City Hall A sewer loan b’ds, sterling, cp. or reg
loan of 1879
do
Public improvement loan, registered
Prov. A Springfield RR. bonds, guaranteed...
Brook Street District certificates, coupon ..
New High School Building certificates
Richmond,Va
—
1874
1876
1875
1879
1879
1872
1879
1877 & ’79
627,500
416,000
1,200,000
1,015,500
325,000
600,000
300,000
2,028,000
1,972,000
lOOOAc.
lOOOAc.
£100
lOOOAc.
1,500,000
1,397.250
600,000
590,000
500,000
Large.
1,000
1,000
Various
New fives
Consol loan
6
8
5
790,900
7
140,000
7
750,000
7
667,000
7
3,182,000
7r
410,000
4
100,000
4 A 5
436,200
6
154,000
6
111,500
6
124,300
3 65 A 4
(?)
6
1,698,000
6
1,104,000
6
60,000
6 g346,000
6 g1,108,000
6
641,000
6 g.
3,950,000
6 g.
1,250,000
6 g.
800.000
6 g681,000
6 g.
1,074,000
6 g.
707,000
6 g2,747,000
5 g.
1,024,000
6 g.
461.000
4 g620,000
1,214.700
■
do
do
Notes and certificates of deposits
St. Lo'uis—Renewal and floating debt bonds...
Real estate, buildings and general purposes..
Street improvement bonds
Tower Grove Park bonds (gold)
Sewer bonds
Harbor and wharf bonds
New water work bonds (gold)
—
do
do
do
do
do
do
Renewal and sewer bonds (gold)
Renewal purposes, gold or sterling
Renewal, Ac., bonds, gold. $ and £
Renewal, <fcc., bonds, gold $ and £, coupon..
Renewal
bds.,gold,$ and £ (part red’mable ’90)
Bridge approach bonds (gold)
Gold bonds to pay Pac. RR. bonds,
St. Louis County bonds assumedinsane Asylum
$ or £—
General purposes, gold
Renewal
Park bonds, coupon, gold
County bonds
81. Josepn,
Mo.—Funding bonds.
m
m
1846 to’71
1840 to ’68
1855 to’57
1868
Various
1852 to’68
1867 to ’70
1872
•
•
•
m
Various
1,000
1,000
Various
1,000
1871 to ’73
1873 *
1875
1874-’79
1880
1872
1885
•
m,
Various
Various
1867
1868
1872
1873 to ’76
1875
1875
County Jail
^
1,000
1,000
1,000
1,000
1,000
1,000
500
1,000
1,000
100,000
500,000
1.000
600,000
1,000
1,000
1,000
1,900,000
1,000
•
•
850,000
1871
1881-84
1867 to’85
Bridge bDnds.
Minn.—Bonds.
500
1,000
1.000
the City Government as reduc¬
reduction in tax levy. (V. 39, p.
49, 727.)
Norfolk, Va.—The assessed valuations and tax rate per $1,000 are:
Personalty. Tax Rate.
$1,463 498
$19
1,310,861
20
1,363,403
20
Real Estate.
$8,861,392
9,354,765
9,590,431
9,776,197
Personal
Real
Property.
Estate.
$7,438,097
7,382,834
7,362,364
7,392,767
$2,976,028
Whom.
Pay’ble
1884 to 1900
City Hall, by Treasurer.
June, 1887
1901-1905
1885
do
do
do
do
Philadelphia, by Treasurer.
do
do
do
do
do
do
do
do
do
•
do
do
do
do
do
do
do
)
S 1885
s
to 1903
)
> 1885 to 1905
S
1885 to 1905
1885 to 1904
1886 to 1898
Mar. 1, 1902A’03
Various N. Y., Mercantile Nat. Bk.
do
do
M. A N.
do
do
Various
do
do
Various
New York.
J. A J.
A. A 0. Phila., Townsend, W. A Co.
do
do
J. A J.
Various Pittsburg and New York.
J. A J. New York, B’k of America.
Philadelphia.
Various
1888-1901
1889-1901
July 1, 1888
Pittsb’rg and Philadelphia.
1893 to ’98
1908
1886 to 1912
1913
1885A ’86
1912-1913
N. Boston, Blackstone N. B’k. Nov.,1886,’87,’88
do
do
July, 1887
J.
do
do
July 1, 1897
J.
Sept. 1,1907
8.
Boston, Case Nat. Bank.
1883 to ’95
Boston and Portland.
m’nthly
June 1,1887
do
J. A D.
Providence.
Sept., 1885
M. A 8
do
Jan., 1893
J. A J.
July, 1900
J. A J. Boston, Prov. and London.
July, 1900
J. A J. N. Y., N. City Bank, A Prov.
do
do
July 1, 1906
J. A J.
July 1, 1895
J. A J. London, Morton, Rose A Co
June 1,1899
Providence.
J. A D.
do
July 1,’99 A 1900
J. A J.
1892
do
J. A ,T.
Boston and Providence.
May 1. 1885-’86
M. A N.
1885-’89
do
do
Various
J.A J., 1884-1914
J. A J.
Richmond, Treasurer.
1886A1904-1909
do
do
J. A J.
do
do
July 1914-’15
J. A J.
1886 to 1903
N. Y.. Union Trust Co.
J. A J.
Feb. 1,1893
F. A A. New York and Rochester.
1886 to 1902
do
do
Various
Jan. 1, 1903
N. Y., Union Trust Co.
J. A J.
Jan. 1, 1905
do
do
J. A J.
Aug. 1,1912
do
do
F. A A.
1884 to 1911
Semi-an
City Treasury.
1884 to 1899
Boston.
J. A J.
1891
F A A.
Boston, 1st Nat. Bank.
1902
M. A S.
City Treasury.
On caU.
do
1883 to’91
Various N. Y., Nat. Bank Republic
1883 to 1906
do
do
Various
1886 A ’87
do
do
Various
do
do
Aug., 1898
F. A A.
1887 to’95
do
do
Various
1886 to’88
do
do
Various
J. A D. New York and St. Louis. June, 1887, A 90
April 1, 1892
A. A O. N. Y., Nat. B’k Commerce.
July 1, 1894
M. A N.
1891 to ’94
New York or London.
Various
Nov. 1, 1893
do
do
M. A N.
do
do
May 1, 1895
M. A N.
1894 A 1899
do
do
J. A J.
Jan.
A June, 1900
do
do
Various
Dec. 10, 1892
J. A D. N. Y., Nat. B’k Commerce
New York and London.
1905, red. 1895
F. A A.
M.
J.
J.
M.
A
A
A
A
'
J.
M.
J.
J.
A
A
A
A
A. A
M. A
J. N. Y., Nat. Bk. Commerce.
do
do
S.
do
do
D.
do
do
J.
do
do
0.
do
do
N.
N. Y.. Amer. Exch.Nat. Bk.
July 1,1887
Sept. 1, 1888
June, 1892
1889 to 1896
April 1,1905
May 1, 1895
«...
1891
1906 to 1912
1887 to 1915
123,990; all the personal being classified with the full city property.
$18 50. Population, 1870, 674,022, against 847,170 in 1880.
Peoria. Ill.—Total debt, $673,500 in 1884. Population, 29,259 in
1880; 22,849 in 1870; in 1883 (estimated), 40,000.
Tax rate,
Plttsbnrg.—The Penn. Avenue and other street bonds
maturing in
1885 andj’86 arefunded into the 5 per cent improvement bonds of 1912-13
Real property, 8105,404,720;
The assessed valuation in 188 4 was:
personal, only $1,838,258. Tax rate, 1884, 16 mills per $1. Popula¬
20 tion, 156,389 in 1880; 86,076 in 1870, and in May, 1884 (estimated),
1,722,492
—Population in 1870, 19,229 ; in 1880, 21,966.
Norwich, Conn.—The assessed valuations, tax rate, Ac., are:
Years.
6g.
6 g.
6 g.
4
6
Due.
Payable and by
16,400
80,069 6, 7 A 10
J. A J. N. Y., Nat. B’k Commerce.
10
223,300
Various IN. Y. Am. Exch’ge Nat. Bk.
5 4,000
4
do
do
5
Various
701,600
Various issues.
Years.
7 A
941,100
8t. Pam,
Bonds.
i.
7
7
6 g.
500,000
891,800
•
Funding bonds.
tion in the expense of administering
tion instate taxes was about equal to
4*2
4*2
2,946,091
1873 to’76 1000&C.
1875
1,000
5.000
1882
50 Ac.
100 Ac.
1869
100 Ac.
1871
100 Ac.
1872
Rockland, Me.—Municipal bonds
Railroad loan ($20,000 payable yearly)
5
7
72.438
i‘872
1,000
Rochester, N.T.—To Genesee Valley Railroad ..
To Roch. A State L. and R. N. A P. Railroads. 1872 to ’74 lOOOAc.
1872 to’75 Various
For various city improvements.
and registered
4*2
280,000
($213,500 are coup.)...
Water works loan, coupon
Funding loan
7
5 A 6g.
7
7
6
6 A 7
4 A 5
7
5
6
6
6
6
5 A 6
6
6
5
5 A 6 g.
5 A 6 g.
5 g.
5 g.
180-.324
787,000
Bonds, reg.,($118,000 are coup.)
Bonds, reg. and coup.
4*2
367,000
83,000
100,000
4,282,500
300,000
1,281,000
2,176,300
3,983,700
1,480,000
1868 to ’74 100 Ac.
25 Ac.
1878
1845 to ’72 500 Ac.
100 Ac.
1863
1871 to’73
1882-’83J 100 Ac
registered,
do
42,000
7,694,075
Compromise railroad bonds (coup, and reg.)..
Bonds impr. Penn, av., &c. (local assessment).
Funded debt improvement bonds, cp. A reg ..
1,000
Portland, Me.—Loan to Atl. A St. Lawrence RR. ’68,’69,’70
1867 to ’69 500 Ac.
Loan to Portland & Rochester Railroad
500 Ac.
1872
do
do
do
1872
1,000
do
Portland A Ogdensburg
500 Ac.
1859-79
Municipal—proper
1867
1,000
Building loan bonds
lOOOAc.
1855
Providence, R.I.—Bonds for public improvem’ts
lOOOAc.
1863
Recruiting and bounty bonds
lOOOAc.
1872
Water loan bonds, gold, coupon....
do
81,500
1,633,066
1,725,000
6,500,000
4,853,500
8,701,600
11,650,000
15,637,425
5,515,200
Where
When
J. A D.
J. A D.
Various
J. A J.
J. A J.
J. A J.
J. A J.
J. A J.
J. A J.
J. A J.
J. A J.
7
6
6
6
6
6
6
6
6
6
6
4
7
110,000
War loan
do
do
Rate.
100,000
Peoria, Ills.—School loan
Water loan
do
Peoria A Rock Island Railroad
Pittsburg—Water exten. loan (coup, or reg.)
Water loan, reg
Funded debt and other municipal bonds.
Principal—When
Amount
Size or
par
Value.
Date of
DESCRIPTION.
Tables.
Immediate notice of any error discovered In these
Subscribers will confer a great favor by giving
(V. 38, p. 80.)
180,000.
The sinking fund and available assets March 31,
The city is protected by mortgages on Atlantic
A Ogdensburg railroads. Population in
1879, 35,010, against 31,413 in 1870, and 26,341 in 1860. Population
in 1880, 33,810; 1870, 31,413. The assessed valuations, tax rate, &c.,
Portland^ me.
Rate of
Tax.
8 mills.
2,872,566
10
“
2,762,931
10
2,658,058
9
“
“
—Sinking fund, May, 1883, $33,778 ; population, 21,145 in 1880; 16,
1883, were $133,846.
A St. Lawrence and Portland
have been:
Real
Estate.
Years.
Personal
Rate of Tax
Property., per $1,000.
Total
Sinking
Funds, Ac.*
$4,688,100
$92,356
Debt-
$19,777,200 $11,376,456 $25 50
11,609,585
23 50
4,620,500
40,161
19,886,300
Paterson, N. J.—Finances are apparently in a sound condition12,354,455
21 50
4,545,500
51,869
20,288,300
The assessed valuations, tax rate per $1,000, Ac., have been:
12,598,720
20 00
4,371,000
133,846
20,431,300
Years.
Real Estate.
Personalty. Tax Rate.
Debt.
These do not include the sinking funds for railroad loans.
$16,398,608
2*4
$1,259,500
$3,544,517
16,935,278
3,637,837
2*4
1,264,000
Providence, R. I.—The principal debt of Providence has been cre¬
3,768,240
2*30
17,746,040
1,251,500 ated since ’72 for water works, sewerage, new City Hall and Brook Street
18,506.048
3,856,635
2*28
1,217,500 Improvement. The sinking fund for bonds due in 1885 is $771,438; 1893,
18,521,342
3,876,075
2*50
1,168,500 $292,937; 1895-99, $548,737; (1899-1900,f$94,556; 1900-6, $137,732 ;
Brook Street district, $13,615. Population, 1870, 68,904; 1880, 104,857.
—Population, 51,031 in 1880; 33,579 in 1870.
Philadelphia.—On Oct. 1,1884, the debt was $64,169,991. In the The laws of Rhode Island now limit the debts of towns to 3 per ot. of their
assessed valuation.
following table the assessed value of real estate is near its cash value:
653 in 1870.
Years.
Real Estate.
Personalty.
Tax Rate.
$535,805,744
$7,863,385
$19 50
8,795,700
9,884,578
9,884,578
597,785,428
19 00
18 50
545,608,579
554,624,115
573,728,105
-
18 50
'
•
18 50
Assessed valuations of property for 1884 are: Full city property,
$526,128,278; suburban property, $38,360,415; farm property, $19,-
..
..
..
..
Assessed valuations, Ac., have been:
Years.
1880....
Real
Personal
Estate.
Property.
$88,012,100
87,788,000
$27,908,900
,
88,937,900
28.413,800
30,208,300
90,143,400
31,722.000
91,642,100
30,854,400
Total
Assets in Sink.
$1,000.
Debt.
Funds, Ao
$13 50 $10,202,688 $1,359,142
Tax per
-
-
14
14
14
14
-
-
00
50
50
50
10,100,599
10,077,099
9,941,188
9,890,688
1,397,558
1,597,280
1,681,400
1,843,785*
Subscribers will confer a great favor by
13
SECURITIES
CITY
April, 1885.\
giving immediate notice of any error
discovered in these Tables.
INTEREST.
For explanations see notes on
St. Paul,
Bonds
Size
Date of
Bonds.
DESCRIPTION.
Minn.—(Continued)—
outstanding.
Value.
first page of tables.
1037818792.88118-3254
do
do
Waterworks coups, (acts
Feb.,’81 A Jan., ’83).
Salem, Mass.—City debt
Citydebt
Water loan
do
Ban Francisco— Bonds
of 1858, coupon (gold)..
Central Pacific Railroad, coupon (gold)
do
Western Pacific Railroad,
do
Judgment bonds,
do
do
School bonds
School bonds
Park improvement
bonds
Hospital bonds
House of Correction bonds
City Hall construction
Montgomery Ave (special tax)
Dupont St. (special) (Act March 4,1876)
Savannah, Qa—New compromise bonds
Somerville, Mass.—City debt
1868-’78-’9
1862 to’81
1860 to ’79
1882-4-5
Various.
1871
1868-9
1878
1858
1864
1865
1867
1870
1874
1872 to ’75
1871 to ’73
1874
1875 to ’76
1873-74
1876
1879
Water loan
•
Springfield, Mass.—City notes.
City bonds
($200,000
Water loan
are
•
6 per cents)
•
•
•
613,416
1,000Ac
1,500,000
100 Ac.
100 Ac.
178.500
300,000
375,000
1,000
398.500
m
Waterworks ($3,000 only 6s)
Short bonds, chargeable on special
after 1893
Worcester, M.—City, ($527,500 c.,
8ewer debt (all registered)
assessm’ts.
$1,520,900 r.)
($79,000 coup., $280,300 reg.)
m
246,000
285,000
g gv
% «•
l g-
200,000
475,000
210,000
g6 gg.
l6 g-
g.
150,000
11:
T*
3,331,900
1,250,000 55^66^2
335,000 5*2,6,6^
111,900
4,6
Large.
Large.
1,000
1,000
1,000
140,000
1,200,000
200,000
1,445,000
Various.
1870
’73,’74A79
Various.
1883
1861 to ’83 500 Ac.
1870 to ’83 500 Ac.
1870 to ’76 500 Ac.
m
432,000
1,000,000
250.500
1,445,000
2,048,400
390,000
359,300
200,000
1884
-
6
6
5
475.500
1,579,000
+
m
4, 5 A6
125,000
928,000
m
6
7
8
5
189.500
210,000
Ac.
Ac.
Ac.
Ac.
Ac.
Ac.
Ac.
Ac.
Ac.
Ac.
100 Ac,
Various.
m
Rate.
263,125
1,000
....
Toledo, O— General fund city bonds, coup
Toledo A Woodville Railroad, coupon
Water debt
Water loan
•
•
$468,000
Various
Various
....
Railroad loan
Bonds, payable
•
$500Ac.
500
500
500
500
500
500
500
500
500
500
Principal—When
Amount
or
par
6
6 & 7
7
4*2 to 8
73
6 & 8
7 & 8
5
4, 5 & 6
4, 4ifl, 5
5 & 6
4
Where
When
Due.
Payable, and by
Whom.
Pay'ble
1888 to 1904
Various N. Y. Am. Exch’ge Nat. Bk.
1887 to 1906
do
do
Various
1893 to 1904
do
do
Various
1909 A 1914
do
A. A O.
do
1884 to 1892
Various
City Treasurv.
Jan. 1, 1891
J. A J. Boston, Merchants* Bank,
do
do
Apl. 1,1883-1898
A. A O.
do
July 1,1904
do
J. A J.
Jan. 1, 1888
J. A J. San F. A N.Y,, Laidlaw & Co.
do
July 1, 1894
do
J. A J.
May 1. 1895
do
do
M. & N.
Oct. 1. 1887
do
A. A O.
do
June 1,1882 to ’90
do
do
J. & D.
do
de
July 1, 1894
J & J.
1897 & 1904
do
do
J. & J.
Nov. 1, 1891
do
do
M. A N.
do
July 1,1894
do
J. & J.
1899
do
do
J.
& J. San.F.A
1896
Feb. 1, 1900
N.Y.,Laidlaw& Co.
Y., Eugene Kelly A Co.
Various Boston, Nat. Security Bank
Q-F.
N.
do
do
Various
Various
City Treasury.
Various Boston, First National B’k.
do
do
A. A O.
do
do
A. & O.
Various N. Y., Imp. & Trad. N. Bk.
do
do
M. A N.
do
Various
do
do
do
Various
do
do
A. & O.
Various C.Treas.ABost. Mchts. Bk.
do
do
Various
do
do
Various
do
do
A. & O.
1882 to 1896
1880 to 1906
1884 to 1889
1884-1890
Apl. 1,’94, to 1905
1884 to 1893
1885 to 1913
May, 1900
1893 to 2000
1885 to 1888
,
Oot., 1913
1884 to 1905
1899 to 1905
1885 to 1906
April 1, 1914
San Francisco.—Population, 233,959 in 1880; 149,473, in 1870. The
assessed, 1882, $28,946,828; personal,
Avenue and Dupont Street bonds are special issues charge¬
1883, real, $29,240,022; personal, Montgomery
able only on the assessment of property benefit-tea, and suits were in
$12,628,267. In 1884, real estate valuation, $29,388,622; personal,
progress October, le84, to determine their legal status. The assessments
$12,952,542; tax rate, $1 40. Population, 63,600 in 1880; 51,038 in’70.
for four years and tax rate (per $100) are given below. The large in¬
March,
1885.
Rochester.—Total funded debt, $5,249,000
The bonds crease in personalty in 1880-31 was made by the arbitrary assessment
of Genesee Valley RR. loan, $148,000, are provided for by net receipts of persons making no sworn statements of their property. The following
from a lease of said road to Erie Railway. Population, 89,366 in 1880; valuations are made by the city and county:
62,386 in 1870; in 1882, estimated, 105,000. Assessed valuation (60
Realty.
Personalty.
Tax Rate.
per ct. of true value), rate of tax, Ac., have been:
Total
Tax per $1,000
$51,057,229
1879-80
$166,429,845
$1 99^*
Real
Personal
Debt.
in old Wards.
1880 81
165,023,658
279,287,738
2 21
Years.
Estate.
Property.
19-64
$5,471,686
155,834,879
66,598,521
1 80^
$42,658,350
$1,706,300
21-79533
5,446,186
151,894.908
50,267,099
1 80*4
37,299,400
1,584,940
23-86
5,382,950
182,531,759
70,691,188
1880
1,430,144
34.408,725
24-67
164,211,887
58,868,427
1 121*
34,596,225
1881
1,291,320
28-61
34,849,975
1,202,395
28
61
5,355,000
In 1884-85 the valuation by the State was $180,633,075 real and
Rockland) Me.—Valuat’n of real andpersonal estate, 1883, $3,651,- $64,081,492 personal; State tax on these valuations is 45*2 cents per
500. Tax rate, $26 per $1,000. Population, 7,599 in 1881; 7,074 in $100.
1870.
Sinking funds raised annually amount to over $238,000, the amount
on hand June 30, 1884, being $721,973.
(V. 36, p. 445.)
St. Joseph, Mo.—Population in 1880. 32.431; in 1870, 19,565. As¬
sessed valuation of real estate, 1880, $5,723,784. Personalty, $3,294,Savannah. Ga.—Default was made on interest Nov. 1,1876, inconse¬
451; total $9,018,235. Rate of tax, 1880, 32^ mills. In 1882 total quence of yellow fever and non-collection of taxes. The compromise
assessed valuation was $12,000,000. In above statement of bonds the
gave new 5 per cent bonds for the face of old bonds; and for interest up
amounts given include accrued interest to April 1, 1883. A compromise to Feb. 1,1879, 58 per cent of the face value in similar bonds. In 1885
of the debt was made in new 4 per cent bonds, which are given for the there remained $111,100 of old sevens not yet exchanged for fives; also,
full principal and interest of old bonds.
there are $356,750 of fives to be issued for city obligations 10 Sav
St. Louis.—Population by the United States census in 1870 was Albany A Gulf RR. Assessed value of real estate and tax rate each year
310,864, against 350,518 in 1880. The city and county were merged have been as follows: In 1831, $10,500,000, $25; 1882, $10,650,000,
by law in 1877 and city assumed the county bonds. The Comptroller $30; 1883, $10,900,000, $30. Population in 1870, 28,235, against
gives the following in his report to April, 1882: The liabilities appear as 30,709 in 1880 and 37,333 in 1882.
follows: The bonded debt at the close of fiscal year (April 10,1882) is
Somerville, Mas*.—Total debt, Jan. 1, 1884, $1,585,000; sinking
$22,417,000. A claim of the St. Louis Gaslight Company for gas fur¬ fund,
$438,000.
Property valuation in 1882, $23,162,200; in 1883.
nished. amounting m all to about $882,000, with interest to March 31,
Tax rate, $16 60.
Except
1882, was decided against the city in 1880, but appealed. Assessed valu¬ $23,812,900; in 1884, $24,331,100.
$140,000 5s in $1,000 pieces, all bonds are in $2,000 to $50,000 pieces.
ation of property and tax rate have been :
Population, 24,933 in 1880; 14,685 in 1870.
tax
Richmond) Va.—Real estate
$12,689,534. Tax rate, $1 40.
....
....
Real Estate
and Personal
Years.
1881
Property.
$164,399,470
160,634,S40
167,336,600
191,720,500
-Rate of
New
Limits.
$5 00
per $1,000.Old
Limits.
$17 50
17 50
17 50
17 50
5 00
5 00
5 00
Bonded
Debt.
$22,614,000
22,507,000
22,417,000
22,311,000
Minn.—Population in 1870 was 22,300; in 1880, 41,498;
estimate of population is 100,000. Assessed valuations
of taxable property and tax rate have been:
Springfield) Mas#.—Total funded debt, Jan.,
cash assets, $129,138. The railroad
Population m 1832, 35,000; 1870,
have been:
Years.
St. Paul.
in 1884 the local
Personal
Rate of Tax
per $1,000.
18 mills.
13
“
15
“
21
“
24*50“
16
Real Estate.
Property.
$18,993,545 $5,452,871
5,491,026
17,300,486
5,942,503
17,300,766
30,000,000 10,000,000
31,000,000 12,000,000
14,000,000
47,000,000
—Valuation of real estate is about one-third of true
Years.
1877
1878
1879
1882
1883
1884
Total
Debt.
$1,327,200
1,356,444
1,519,310
1,959,910
2,328,040
3,027,140
value. (V. 38, p.
510.)
Salem, Mas#.—The sinkingfunds Jan 1,1884,were $226,363, mostly
consisting of City of Salem bonds. Population. 27,563 in 1880; 24,117
in 1870. Tax valuation, 1882, $25,528,242; tax rate, $15 50
In 1883
valuation, $25,614,115; tax rate, $16.
1882
1884, $1,651,900
debt falls due $20,000 each year.
26,703. Tax valuation and rates
Personal
Real Estate.
$23,795,920
25,084,420
25,676,800
—Valuation of real estate is about
Tax rate
property.
per $1,000.
9,198,258
12 50
$8,935,850
9,260,459
12 50
12 50
67 per cent of true value.
Toledo.—Total debt, Jan., 1885, was $3,127,500. Of this the debt
payable by special assessments was $250,500 Taxable valuation ol
real estate, 1883, $20,644,600; personal, $3,159,380; total valuation,
21,375,280; tax
peisonal,
total valuation,
tax
rate, $8,646,190;
$2 44 per $100.
1884, real estate,
t28,803,980;
valuation, $30,021,470;
rate, $2 22. Population, 50,137 in 1880; 31,584 in 1870.
Worcester) Mass.—Total funded debt, Jan. 1,1884, $2,797,700:
temporary debt $150,000. Cash assets, $577,823, including $486,776
in sinking fund. Population. 58,291 in 1880, 41,105 in 1870. Tax valu¬
ation, 1880, $41,005,112; in 1881, $42,606,529; 1882, $45,504,512;
tax rate, 1-74. In 1883, $48,570,335; tax rate, 1*72
14
RAILROAD
Subscribers will confer
a
For explanation of column headings, &c., see
on first page of tables.
notes'
Ala. N. 0. Texas <& Pacific June.—1st debentures
2d debentures
Ala. Qt. South’n.—1st mortgage, coupon
...
Albany <6 Susquehatmar-Stock
mortgage
Albany City loan (sinking fund, 1
2d
per ct.
yearly).
mortgage
Consol, rnort. (guar. D. & H. endorsed on bonds)..
Allegheny Valley—Stock
Miles Date
of
of
Road. Bonds
233
....
296
209
142
142
142
142
259
132
110
General mortgage (Riv. Div.)
Bonds to State Pa. (endorsed) 2d rnort.. East ext.
let rnort., East’n Exten., guar, by Pa. HR
259
Funding income bonds, with traffic guarantee
Amador Branch— 1st mortgage
27
Asheville dt Spartanburg— 1st mortgage
"62
Ashtabula <t Pittsburg— 1st mortgage, coup, or reg..
Atchison Col. <£ Pacific—1st rnort., guar
254
Atchison Jewell Co. <& West.—1st M., guar. C.B.U. P.
34
Atchison Topeka <6 Santa Fe—Stock
1,868
1st mortgage, gold, ($15,000 p. m.)
470
Land grant mortgage, gold. ($7,500 p. m.)
Consol, bonds, gold, ($7,500 p. m.)
Bonds, gold (secured by rnort. bonds) $L.185,000.
S. F. bonds for purchase of K. C. L. & S. K. stock.
....
.
1882
1384
1878
BONDS.
[Vol. XL.
-
.
....
....
Sinking fund bonds (secured by rnort. bds.)
.
Sink, fund bds. (secured
by deposit of rnort. bds.)
Wichita <fc Southwest.,'1st M.,gold)
f
Kans. City Top. & W. 1st M., gold l
0n
rental J
rGuar.iental. <
J
[
27
66
...
148
or
Par
Amount
Outstanding
Value.
£100
£100
$7,500,000
2,500,000
1,679,000
3,500,000
998,000
1,000,000
1,627,000
8,000,000
2,166,500
4,000,000
2,6 >0,000
10,000,000
9,339,500
675,000
0)
1,500,000
4,070,000
$1,000
1,000
1,000
1,000
1,000
50
i866
1,000
1870
1871
1874
1877
100,000
1,000
1878
1,000
1,000
1,000
1879
1879
1869
1870
100 &c.
1,000
isso
Rate per
When
Cent.
Payable
6
6
6 g.
3*a
7
6
7
6 & 7
6*
6
6
1 hi
7 g.
7 g.
7 g.
5 g5
108,500
1,000
1,000
1,000
1,000
1,0H8,000
3,594,000
4,841,000
12,135,000
412,000
854,000
1,000
1,000
4*2
6
7 g.
7 g.
7
7 g.
200.000
....
1,000
&
&
&
&
&
&
&
&
and by
Stocks —Last
Dividend.
London.
O.
April 1, 1907
D.
do
June 1, 1907
J. N.Y., Farmers’ L. & T. Co
Jan. 1, 1908
J. N. Y., B’k of Commerce.
Jan. 1, 1885
J. N.Y.,Del. & Hud.Can.Co
July, 1888
N.
do
do
Nov., 1895-’97
0.
do
do
Oct., 1885
0.
do
do
April 1, 1906
'
'
56,913,250
7,041,000
2,626,000
500 &c.
A.
J.
J.
J.
J.
M.
A.
A.
Where Payable,
Whom.
pal, When Due.
730 J. & J. N. Y., Winslow, L. &Co. March 1,1896
5
Jan’ary Harrisburg, Treasury. 100,000 y’rly.
7
A. & O. Philadelphia or Loudon April 1, 1910
7
A. & O. Pittsburg, Co.’8 Office.
Oct. 1. 1894
6
J. & J. N. Y., Cent. Pacific RR. Jan. 1, 1907
542,000
100
500 &c.
....
1380
1830
1881
1872
1875
1878
1875
Bonds—Princi
INTEREST
Size,
100
...
1863
1865
1865
1876
....
do
do
income bds.
Pueblo & Ark. Valley, 1st M.,gold
AND
great favor by giving immediate notice of any error discovered In tliese Tables.
DESCRIPTION.
1st
STOCKS
1,633,000
Phil., Fid. I.T. & S.D.Co. Aug. 1, 1908
N.Y.,Un. Pac.RR.Office
May 1, 1905
N.Y.,Un.Pac. RR office. May 1, 1905
Boston, at Office.
May 15, 1885
Q.-F.
J. & J. Boston, North Nat. Bk. July 1, 1899
F. & A.
Q.-F.
Q.-F.
A.
A.
A.
M.
A.
J.
J.
J.
M.
J.
&
&
&
&
&
&
&
&
&
&
0.
O.
O.
S.
0.
D.
J.
J.
S.
J.
do
do
do
do
Boston, Co.’s Office.
Boston, Boston Nat. B’k.
Oct.
1, 190C
April 1, 1903
April 1, 1909
Sept. 1, 1920
Bosr. Safe Dep. &Tr. Co.
Oct. 1, 1920
Dec. 1, 1911
Boston, Co.’s Office.
Boston, North Nat. Bk. July 1, 1902
Boston, Everett N. Bk. July 1, 1905
do
do
Mar. 1, 1906
Bost., N. Bk. of N. Ain’a July 1, 1905
;
Alabama N. O. Texas Sc Pacific Junction (Limited.).—(See
Map Ginn. N.O.<£ T.F.i—This is an English Co. controlling the Vicksburg
& Meridian, 142 miles; Vicksburg Shreveport & Pacific, 189 miles; N. O.
& North Eastern, 190 miles; and Spanish Fort R’y, near New Orleans, 13
& Texas Pacific
Railway Co. (lessee of the Cincinnati Southern Railway). The manage¬
ment of the company is the same as that of the Alabama Great
Southern RR. Length of roads, 863 miles; add Ala. Gt. Southern RR., 295
miles.
It also controls the Cincinnati New Orleans
miles; entire system, 1,158 miles. Road opened through from Cincin¬
nati to New Orleans Oct., 1883, and to Shreveport, La., July, 1884. The
preferred or “A” shares are £1,500,000, having a preference for 6 per
cent dividends and
cumidative, and the deferred or “B” shares
£2,500,060; par value of all shares, £10 each. The first debentures are
redeemable any time at 115, on six months’ notice. The company holds
the following securities, viz.: Cin. N. O. & Texas Pac. $1,532,000 stock;
Vicksburg & Meridian, $245,000 1st mortgage, $105,000 2d mortgage,
$416,500 3d mortgage, $1,464,300 preferred stock and $363,000 com¬
mon stock; of Vicksb. Shrevep. & Pac. $3,692,000 1st rnort., $1,931,000
incomes and $1,594,000 stock; of N. O. & North Eastern $4,900,000 1st
rnort. and $4,320,000 stock; N. O. Spanish Fort & L. RR. $300,000 1st
rnort. and $200,000 common stock.
(V. 38, p. 177; V. 39, p. 63, 70.)
Alabama Great Southern.—(See Map Ginn. N. O. tfi T. P.)—From
Wauhatchie, Tenn., to Meridian, Miss., 290 miles; leased, Wauhatcliie
to Chattanooga, 6 miles; total operated, 296 miles. The Alabama &
Chattanooga RR. made default Jan. 1,1871, and road was sold under fore¬
closure Jan. 22,1877. Present company organized Nov. 30,1877, and is
controlled by an English company of the same title. The lands were
conveyed In full settlement to the holders of the $2,000,000 of Alabama
State bonds. These lands (about 550,000 acres) are held by trustees.
(V. 30. p. 117.)
Capital stock—common, $7,830,000, and preferred 6
per cent, $2,750,000. Gross earnings in 1883, $1,058,763; net, $306,033.
Gross in 1882, $363,418; net, $249,376. (V. 33, p. 331, 479, 763.)
Albany Sc Susquehanna.—Road owned from Albany, N. Y., to
Binghamton, N.Y., 142 miles; branches operated Duanesburg Junction,
N. Y., to Schenectady, 14 miles; Cobleskill, N. Y., to Cherry Valley. 21
miles; operates Lackawanna & Susquehanna RR., 22 miles; East Gienvllle to Coons, 10 miles; total operated, 209 miles. Leased in perpetuity
from Feb.. 1870, to Delaware & Hudson Canal Co.; rental, 7 per cent
on stock and interest on bonds.
Additions and betterments charged to
lessors, and cost made part of investment. The Pennsylvania coal fields,
by the joint use of the Jefferson RR., give a large coal traffic to the road
and to the other Del. & Hud. leased roads north from Albany to the Can¬
ada line. The consol, rnort. is for $10,000,000, of which $3,000,000 are 7
per cents. Gross earnings in 1883-84, $2,611,383; net, $732,718; deficit
to lessee after all payments, $157,760. (V. 39, p. 581; V. 40, p. 28.)
Allegheny Valley.—Owns from Pittsburg, to Oil City, Pa., 132
miles; branches—Red Bank, Pa., to Driftwood, 110 miles; others, 17
miles; total operated, 259 miles.
The company became embarrassed
In 1874 and compromised with its creditors.
It still falls short
of earning interest liabilities. The amount of income bonds authorized
Is $10,000,000; these receive all revenue left after interest on prior
liens, and any deficiency is made up by additional issues. Of the income
bonds the Pennsylvania RR., Northern Central and Philadelphia & Erie
hold $5,856,000, the interest on which is paid altogether in bond scrip;
the bonds held by individuals are paid in cash and scrip convertible
into income bonds. In 1884 the charges for mortgage interest and car
trust payments were $1,132,360; income bonds, $328,972; total,
$1,461,332; deficit in net earnings, $643,471. The debt due to Pennsyl¬
vania RR. was $3,902,815 Dec. 31,1883. In April, 1884, a receiver was
appointed at the instance of the Penn, and other railroads as plaintiffs.
Eamiugs for four years were as follows: 1882, gross, $2,353,6 )8; net,
$886,603; 1883, gross,$2,255,942; net, $886,772; 1884. gross. $2,113,883; net, $817,861. (V. 38, p. 423, 571, 619; V. 39, p. 21, 461, 492.)
Amador Branch.—Galt, Cal., to lone, Cal., 27 miles. Leased till
Nov. 1, 1890, to Cent. Pacific; rental $3,500 per month. Stock, $675,000. Leland Stanford, President, San Francisco.
Asheville Sc Spartanburg.—From Spartanburg, S. C., to Ashe¬
ville, N. C., 67 miles, of which 49 miles, to Hendersonville, in operation.
Formerly Spartanburg <fc Asheville; sold in foreclosure April, 1881, and
reorganized. Stock $1,050,000. In 1883 the mortgage for $500,000
was made to build the 18 miles to Asheville.
Controllea by Richmond &
Danville. Gross earnings in 1882-3 $39,460; deficit, $777.
(V. 39, p.
158; V. 40, p. 303.)
Ashtabula Sc Pittsburg.—Owns from Youngstown, O., to Ashta¬
bula Harbor, O., 62*6 miles.
Organized as Ashtabula Youngstown &
Pittsburg in 1870. Defaulted and property sold August 21, 1878.
Existing compauy organized Sept. 25, 1878, and it is leased by Penn.
Co., which pays net earnings to A. & P. The common stock is
$958,591 and preferred $700,000; par of shares, $50. Gross earnings
In 1883, $447,087 ; net, $163,403; interest, $90,000.
In 1884, $387,187; net, $93,693; inferest, $90,000. (V. 38, p. 508.)
Atchison Colorado Sc Pacific.—Waterville, Kan., to Washington,
Kan., 20 miles; Greenleaf, Kan., to Logan, Kan., 155 miles; Logan to
Lenora, Kan., 25 miles; Downs, han.,to Ball City, Kan., 24 miles; Yuma,
Kan., to Warwick, 31 miles; total. 254 miles. The road forms au exten¬
sion of the Union Pacific Central Branch, by which the bonds are guaran¬
teed and the road is controlled, and the whole system is virtually owned
by Union Pacific, but operated by Mo. Pao. Stock, $1,526,000, of which
Union Pacific and Central Pacific own $920,500. Rental, is $254,370
per annum.
Atchison Jewell Co. Sc West.—Jamestown, Kan., to Burr Oak,
Kau., 34 miles. Under same auspices aud control as Atchison Colorado
& Pacific. Stock, $202,800, of which Union Pacific owns $105,000. Ren¬
tal is
$33,875
per annum.
Atchison Topeka Sc Santa Fe.— (See Map.)—Line of Road.Main Line—Atchisou to Kans. State line, 471 miles. Owned by owner¬
ship of stork, the Southern Kansas, 507 miles. Leased—Various branch
Kansas 423 miles; Kan. State L. to S. Pueblo, Col., 149
miles; Pueblo to Rock vale, Col., 37 miles; La Junta to N. Mex. State
Line, 96 miles; Colorado St. L. to San Marcial, N. M., 354 miles; Lamy
to Santa Fe, 18 miles; San Marcial to Deming, N. M.. 128 miles; Rincon
to Texas line, 58 miles; coal aud mineral roads, 60 miles; Las Vegas Hot
Springs road, 6 miles; Texas line to El Paso, 20 miles; aud Demiug to
Silver City, N. M., 48 miles; total leased, 1,398 miles. Total operated
directly, 2,375 miles. The road owned jointly with the Union Pac., 103
miles, and that owned jointly with St. L. A Si F., 45 miles, and the
Sonora system, 359 miles, controlled—are not embraced in the miles
operated. The total mileage controlled is 2,793 miles.
Organization, Leases, &c.—The A. T. & S. Fe. Co. was incorporated
March 3,1863, and inoludes the Atchison & Topeka RR.. incorporated
Feb. 11, 1859. The land grant was received by Act of Kansas Feb. 9,
1864.
The main line of 471 miles was opened Dec. 23, 1872.
The
whole system outside of the m tin lino is nominally under different cor¬
porations, of which the ownership is vested in the A. T. &S. F.t and the
roads also leased to that Co. and interest on the bonds usually paid as
rental. The Southern Kansas and the Sonora systems are not leased,but are .controlled by ownership of the stock.
The A. T. & S. Fe
Co. has issued its own stock and bonds to purchase the stocks and bonds
of leased and auxiliary companies, aud the balance sheet shows
$50,163,613 so invested; besides $3,015,000 bonds owned, against which
Atchison Topeka & Santa Fe securities have not been issued. The fiscal
year ends Deo. 31. The election of directors is held in April.
An agreement was made in Feb., 1880, with the St. L. & San Fran, for
the joint construction of aline to the Pacific, under name of Atlantic &
Pacific, and in Sept., 1884, an agreement was made for the control of the
roads in So.
Mojave Division of the Southern Pacific and
Southern Pacific to San Francisco.
a
right for traffic over the
(See V. 40, p. 478.)
Stock and Bonds—The stock has been Increased rapidly to present
figures for the acquisition of the auxiliary lines and by way of stock
dividends. Dividends have been—in 1879,3 percent; in 1880, 8^; in
1881,6 cash and 50 stock; in 1882, 6; in 1883, 6; in 188 4, 6. The
range in prices of stock in Boston was—in 1881, 929154*4; in 1882,
7878®9618; in 1883, 73 @86*4 5 in 1884, 59*a280; in 1835, to April 17,
663*979*4.
The land grant bonds receive the proceeds of land sales in payment of
interest ana principal, aud bonds are paid off accordingly. The A. T. &
S. F. bonds have in several cases been issued to build the leased lines,
and the mortgage bonds of those lines are deposited with trustees as
security. The 4*2 per cent* bonds, due Oot., 1920, have the 6 per cent
mortgage bonds of the Rio Gr. Mex. & Pac. and the Rio Gr. & El Paso
roads as security, the sinking fund being 1*« per cent per annum rising
to 3 *s per cent by 1910.
The 6 per cent bonds, due Dec. 1, 1911, have as
security 1st or 2d rnort. bonds of a number of the proprietary or con¬
trolled railroads, deposited iu trust as collateral; they are redeemable at
105 by the sinking fund,
2 per cent thereafter.
which is 1 per cent per annum for 10 years and
The 5 per cent bonds, due April 1, 1909, are
seoured by the N. Mex. & So. Pac. 1st rnort. 7s. On other bonds the
interest is paid as rental. Such bonds as are held in the company’s treas¬
ury, or leased line bonds heldas collateral for any of its own bonds given
above, are not iuoluded in the above amounts outstanding. Interest on
the Sonora RR. in Mex (262 miles) 1st M. bonds Is guaranteed; those
bonds are at $20,000 per mile, of which $5,000 per mile are owned by
the A. T. & S. F. Co. The Leav. Top. <& So. RR. bonds at 4 per cent are
guaranteed one-half by the A. T. & S. F. and one-half by the Union Pacific.
Land Grant—The lands are in Kansas granted by Act of Congress
March 3, 1863, and Kansas, Feb. 9, 18 J4. Land sales in 1884, 353*090
acres for $1,186,027. being an average of $3 36 per acre; assets De¬
cember 31, 1884, $1,346,434 contracts and 1,114,585 acres yet unsold.
Operations, Finances, &c.—The A. T. & S. F. has been one of the
most successful of roads built into new territory, where a monopoly of
business has produced large net earnings.
Tne connection with the
Atlantic & Pacific took effect for business in Oot., 1383, and the through
line to San Francisco Oct. 1,1884, and the results from these, as also
from the connection with Mexican Central at El Paso, opened through to
Mexico City in March, 1834, remain to be seen.
The report for 1384 in the Chronicle, V. 40, p. 478, said: “ Had it not
been for the pool balances of 1383, then undetermined, animating to
$211,663, charged against the receipts for 183 4, the surplus for the year
gmiiki havtt lippm si f>55 Gin
The undetermined pool balances for the
‘ ynarr T8S4'~are estimated to be less than $25,000.” * * * “In view
of the general condition of business through mt the country and the
special circumstances affecting the Atchison Company’s lines, the busi¬
ness of the year cannot bat be regarded as satisfactory; an l, had it not
been for the low
prices of grain which have prevailed the last few
months, the earnings would have shown a much larger increase. Among
the
special circumstanoes whioh the company has hai to contend with
year were the coal strikes and washouts.” * * * ‘’Tne
large increase in the operating expenses for 18 34, as compared with
1883. calls for special explanation. A detailed comparison stiows that
the largest increase, $673,342, is in repairs and renewal of traok. Of
during the
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giving immediate notice ot any error
Subscribers will confer a great favor by
[Vou XL.
discovered In tbese Tables.
INTEREST OR
DESCRIPTION.
For
STOCKS AND
RAILROAD
16
Date Size, or
of
par
Road. Bonds Value.
Miles
of
explanation of column headings, &c., see note8
on first page of tables.
Atch. Top. <t S.Fe— (Continued.)—
Pueblo A Ark. Yal., 1st (A 2d on 148 m.).. I
Kansas City Emporia & S., 1st mort
Cow. Sum. & Ft. Scott, 1st mort
Marion & McPherson, 1st mort
Florence El Dorado & W., 1st M., gold
I
)•
—
'
•g'3
|Pg
JO
-
Leavenworth Topeka & S. W.—1st mort., *2 guar .
N. Mexico A So. Pac.—1st M., gold, guar, rental..
Sonora, 1st mort., gold, interest guaranteed
Atlanta & Charlotte.—Stock (guar. 5 p. ct. by rental)
New pref. mort
Mortgage bonds
Income bonds, registered (not cumulative)
134
64
92
93
26
46
372
262
269
1878
1879
1879
1879
1877
1882
1878
1880
$1,000
1,000
1,000
$1,942,000
532,000
798,000
1,000
1,000
713,000
310,000
1,000
690.000
1,000
4,425,000
1.000
100
265*2
265*2
1877
1877
1880
1,000
1,000
4.050,000
1,700,000
500,000
4,250.000
500
100
1,232,200
87
Atlanta <& West Point—Stock
Debenture certificates
Atlantic <£ North Carolina—1st mortgage
Atlantic <£Pac. —1stmort. g.,W. D.(s.f.) $25,000 p.m.
Atlantic <£• St. Lawrence—Stock ($5,459,036 stg.)..
fund)
1868
1880
1880
1871
196,000
16,000,000
12,000,000
l,000Ac
50 Ac.
500 Ac.
1,189,905
796,629
65
i'S8 2
1,000Ac
102
151
1882
50 Ac.
£100
...
1864
1871
150
150
53
60
80
Austin c£ Northicestern (Tex.)— 1st mort
Bald Eagle Talley—Gen’lmort.,(s. f. $4,000 per yr.)
1,232,200
500
....
*
Augusta <£• Savannah—Stock
750,000
i881
95
560
102
99
102
Income bds., non-cum’tive, ($18,750 p.m.)
1st RR. A land grunt bonds on Central Division..
1st land grant bonds on Central Division
New 1st mort., road and lands, Central Div
New income bonds, Central Division
1st mort. to City of Portland (sinking
2d mortgage, sterling, 5-20 years
3d
do
do
do
Amount
Outstanding
£100
£100
100
1,000
1880
1,000
600,000
450,000
5,484,000
787,000
1,499,916
712,932
733,700
392,000
384,000
Rate per
Cent.
7 g.
7
7
7 g.
7 g.
4
7 g.
7 g.
2*2
7
7
6
3
6
8
6 g.
6
6
6
6
6
3
6
6 g.
6 g.
3*2
6
6
When
DIVIDENDS.
Where
A
A
A
A
A
A
A
A
A
A
A
A. A
J. A
J. A
J.
J.
O.
O.
O.
J.
O.
J.
S.
O.
J.
0.
J.
J.
pal, When Due
Payable, and by Slocks—Last
Whom.
Pay’ble
J.
J.
A.
A.
A.
J.
A.
J.
M.
A.
J.
Bond 8—Princl
Dividend.
Boston, Nat.Bk.of N.Aua. July 1, 1905
Boston, North Nat. Bk. July 1, 1909
Oct. 1, 1909
do
do
Oct. 1, 1909
do
do
Boston, Nat. B.N.Amer. Aug. 1, 1907
Boston, Am.L’nATr.Co. July 1, 1911
Boston, Everett Nat.Bk. April 1, 1909
Jan. 1, 1910
Boston, Nat. Revere Bk.
N.Y. Central Trust Co. Mar. 6, 1885
do
do
April 1, 1897
Jan. 1, 1907
do
do
do
do
April 1, 1900
Atlanta, Ga., at Treas’y. Jan. 15, 1885
do
do
Company’s Office.
1891
1888
July 1, 1910
Oct. 1, 1910
Nov. 1, 1891
Nov., 1901
March 1, 1922
June 1, 1922
Rw. Mar. 15,1885
Nov. 2, 1888
Rw. Oct. 1, 1884
May 1, 1891
Dec. 4, 1884
N.Y., Mercantile Tr.Go.
J. A J. Pliila.,F.Ins.Tr.AS.Dep. Jan. 1, 1910
New York.
J. A J.
A. A O.
New York.
M. A N.
do
At Mat.
do
M. A S.
J. A I).
M. A S. London, Gr. Trunk
M. A N.
A. A 0. Tendon, Gr. Trunk
do
do
M. A N.
Savannah.
J. A D.
.
On March 26, 1881, tne road was
this amount, tbe washouts and freshets caused an expenditure of poration was formed Feb. 27, 1877.
$330,386 in excess of the corresponding expenditures in 1883.” * * * leased to the Richmond & Danville at a rental of $462,000 per year,
“
equal to the interest on debt and 5 per cent on stock; if gross earnings
Of the main line of the company from Atchison and Kansas City to
of A. & C. A. L. exceed $1,500,000, dividends to be 6 per cent; and if
Pueblo, Deming and El Paso, and from Benson to Guaymas, having a
mileage of 1,692 miles, 1,543 are laid with steel rails, and, of the they exceed $2,500,000, 7 per cent. Gross earniugs in 1882-83, $1,074,auxiliary roads, 214 miles are laid with steel. The other principal 016; net, $397,174; rental, $466,500; loss to R. & D. $69,325. In
increase over 1883—namely, $336,947—is in the repairs of rolling stock 1883-84, gross, $1,012,631;.net, $338,731; loss to R. & D., $127,769.
and engines. In 1883, the expenditures for these repairs were not kept
Atlanta Ac West Point.—Owns from East Point, Ga., to West
up to the full standard, so that in 1881 the charges to this account were Point, Ga., 81 miles; leased, 6*2 miles; total operated, 87*2 miles.
In
lurgely increased.”
April, 1881, a controlling interest iu the stock was purchased for the
For two months from Jan. 1, 1885, gross earnings were $2,180,446, Central Georgia, and a stock dividend of 100 per cent was afterward
declaredin debenture certificates. Gross barn’s in 1881-82, $430,010; net,
against $2,339,363: net $356,432, against $1,186,360.
A summary of the annual report for 1881 was published m the Chron¬ $175,494; in 1882-83, gross, $406,192; net, $154,810.
icle. V. 40, p. 448.
Income, etc., for four years were as follows:
Atlantic Ac North Carolina.—Owns from Moreliead City to Golds¬
Earnings, Ac., for two years,and general balance for 1884,are as follows, boro, 95 miles, and operates the Midlaud No. Car. Ry. from Goldsboro to
these statistics embracing the Atchison Topeka A Santa Fe and South¬
Smithtteld, 22 miles. Gross earnings iu 1883-84,$146,324; net, $50,482.
ern Kansas systems combined, but nothing of the Sonora, Atlantic A
Atlantic Ac Pacific.—This corporation was chartered by Act of Con"
Pacific or roads owned jointly.
gross July 27,1866. The Western division is from Isleta, near Albuquer'
ROAD AND EQUIPMENT.
2,219
1884.
2,374
374
266
377
281
9,933
10,095
1883.
Total miles operated
Locomotives
Passeger, mail and express cars
Freight and coal cars
Other
26
23
cars
OPERATIONS AND FISCAL RESULTS.
1883.
18S4.
1,502,485
1,072,169
120,411,659 135,412,096
2-909 cts.
2-64-4 cts.
2,240,430
2,725,191
582,176,176 634,711,316
1*882 cts.
2-009 cts.
«
$
$
3,502,950
3,583,018
11,946,453
11,699,194
707,297
762,412
15,909,441
16,291,883
Operations—
Passengers carried, No
Passengers carried one mile
Rate per passenger per mile
Freight (tons) moved
Freight (tons) carried one mile...
mile
Rate per ton per
Earnings—
Passenger
Freight
Mail, express, Ac
Total gross
-
earnings
Operating Expenses—
Maintenance of way, Ac
Maintenance of equipment
2,216,574
1,124,949
Transportation expenses
3,227,352
Taxes
3,560,610
670,856
8,975,976
7,315,907
55-09
8,256,525
48-10
INCOME ACCOUNT FOR
Receipts—
421,378
7,652,916
Total operating expenses
earnings
Per cent of operating expenses to taxes
Net
.
miles, and is projected westward to a junction with the Western Div.
The Atch. Topeka & Santa Fe and the St. Louis A San Francisco
companies guaranteed 25 per cent of the gross earnings over their
respective lines on business to and from this road, one year after its
completion, provided its own earnings were msutticieut to pay coupons,
and the advances so made constituted, a loan to be repaid by the A. A P.
with interest. The stock authorized is $100,000,000, and issued $54,810,300 (par $100), mostly owned oy the Atch. Top. & Santa Fe and the
St. Louis A San Francisco companies equally, and held in trust for
those two companies. Iu June, 1883, a syndicate took $10,000,000 at
15, with an option on $10,000,000 move at 20. The stock is classed
thus: Western Div., com. stock, $34,750,000; Cent, and Mo. divs., com.
stock, $8,660,300, pref., $11,400,000. The old pref. stock has no pref-.
erence over the A. & P. West. Div. stock. See statement iu V..36, p. 588.)
The Southern Pacific built east to meet this road at the Colorado River,
and iu August, 1884, the 242 miles of road from Mojave ,to The Needles,
ou the Colorado River, was sold to the A. A P. Company for $7,271,100, the terms of payment not stated. The same negotiation gave a
by contract to run through trains to San Francisco over the
2,861,236 right
Southern and Central Pacific lines ou payment of rental either on a
1,461,896 mileage basis or at 3 per cent per annum on $40,000 per mile. (This as
673,722
410,319
Mieoellaneous
que, on Atch Top. A Santa Fe, to Big Colorado River, 560 miles, where
it meets the South. Pacific. Opened for traffic Oct., 1883. Also the Cen¬
tral Div. finished from Seneca, Mo., to Red Fork iu the Indian Ter., 102
1884.
Disbursements—
Reutals paid
Interest on At. Top. A S.
F. and So. Kan. bonds.
Interest paid as rental..
Interest on land bonds..
See V. 39, p. 208.
claimed under the old Atlantic & Pacific charter
25,600 acres per mile in Territories and 12,800
acres
The total land grant on the whole road, if con¬
in States.
structed as under the charter, would be 42,000,000 acres. The pro¬
ceeds of sales of the company’s lauds are to he lodged with the trustee
reported.)
The land grant
of July, 1866, is
the purchase and cancella¬
they can be obtained by
exceeding 110 and interest. The bonds
under the mortgage, and are applicable to
tion of the first mortgage bonds whenever
public advertisement at not
are not subject, otherwise, to be drawn or paid before maturity.
They
are receivable at par iu payment for lands.
A map of the land grant
1,812,544
142,014
was published in the Chronicle, V. 36, p. 468.
From land grant trust’s.
866,655
183,281
The fiscal year ends December 31.
The annual report for 1882
188,231
was published at some leugth in the Chronicle, Y. 36, p. 588, hut no
Dividends
3,414,736
report for 1883 was issued.
Rate of dividend
6
The Central Division is at present operated by the St. Louis & San
Sinking funds
269,716 Francisco Railway Co.
Paid to other roads
241,677
The financial plan of Jan. 9, 1882. provided for a new mortgage upon
Total income
$7,674,690
Total disbursements..$6,830,707 the entire property of the Central Division, not exceeding $25,000 per
Balance, surplus
$343,983 mile of road. Interest upon these bonds was guaranteed by a traffic con¬
tract with the St. Louis & San Francisco Railway Co. and the Atchison
GENERAL BALANCE DEC. 31, 1884.
Liabilities—
$
Topeka & Santa Fe RR. Co. These new bonds were to be used as
A88CtS $
RR., bldgs.,equip.,&c. 48,943,706 Stock, At. Top. A S. F. 56,913,250 follows: 1st.—To retire the outstanding issue of old bouds of the Central
Stock So. Kansas RR.
13,759,900 Division, by exchange or purchase. 2d.—To provide means for the con¬
Leased roaris (see con¬
tra)
11.819,000 Bonds (see Supplem’t) 34,3 25,500 struction of the Central Division from Vinita, Indian Territor3r, west¬
2,397,367 ward. Ninety-nine miles of this division having been completed, the
Stocks & bonds own’d
54,418,352 Acc’ts, Ac., payable..
9u3,755 company is entitled to issue $2,475,000 of these bonds.
Accounts receivable..
2,317,557 Coups.,gold prem .Ac.
Officers of the company: H. C. Nutt, President, Boston; E. F. Win¬
At. & Pac. RR. acc’nt.
1,723,214 Contingent liabilities. 11,819,000
869,6 3) slow, First Vice-President, New York: W. B. Strong, Second Vice-Presi
U. 8. Government
356,418 Dividends
145,012 dent; C. S. Tuckermau, Secretary and Treasurer. Boston. (V. 38, p. 29
Cash and bank bal’s.
1,112,482 Fire insurance fund..
500,600 455, 594; V. 39, p. 21, 70, 127, 208, 263, 349, 381; V. 40, p. 27, 84.)
Materials A supplies..
1,595,734 Renew. & impt. aco’t.
591,295
Miscellaneous items..
194,903 Suspended accounts..
Atlantic Ac St. Lawrence.—Owns from Portland, Me., to Island
Land grant trust......
1,498,027 Pond, Yt. (and branch), 151 miles, there connecting with Grand Trunk
Canceled bonds
1,874,500 ot Canada, to which leased for 999 years, August 5,1853, at a rental
Income balance
6.883,640
equal to bond interest and 6 per cent on stock. The bonds to city of
Total liabilities
122,481,306 Portland are now provided for by accummulations of sinking fund.
Total
*122,481,366
The Grand Trunk RR. owns the 1st and 2d mortgage bonds. Gross
The above assets are exclusive of the bills receivable for sales of land
earnings in 1883-84, $L,067,432; net, $175,411.
Gross in 1882-83,
to Dec. 31,1884, amounting to $1,346,485, and the value of 1,114,586
Net earnings
Rentals, dividends, &c..
Other receipts
$7,315,907
28,488
$37,093
.
*
$1,017,284; net, *156,072
Augusta Ac Savannah..—Owns from Millen to Augusta, Ga., 53 m.
Leased to Central of Ga. for $73,000 per aunum. Has no bonded debt.
Austin Ac Northwestern.—Line of road, Austin, Tex., to Barnet,
—(V. 38, p. 29, 86, 202, 293, 398, 423.441, 447, 453,479.508, 551,
678, 705; V. 39, p. 32, 47, 96, 141, 157, 245. 263. 408, 492, 521; V. 40, Tex. 60 miles. Opened Jan. i. 1882. Has a land graut of 600,000 acres.
Stock. $600,000.
J. A. Rhomberg, President, was appointed receiver
p. 240, 268, 321,330, 362, 393, 437, 467, 478, 4799
Atlanta & Charlotte Air Line.—(See Map Rich, d Danv.)—Owns Oct., 1883, and sale in foreclosure June 3, 1885. (V, 40, p. 303.)
Bald Eagle Valley.—Owns from Vail Station, Pa., to Lockhaven,
from Charlotte, N. C., to Atlanta, Ga., 269 miles. The Richm. A Atlanta
Air-Line was sold under foreclosure Dec. 5, 1876, and the existing eor- Pa., 51 miles; branch, Milesburg, Pa., to Bellefonte, Pa., 2*s miles;
of unsold lands.
t Southern Kansas stock is all owned by
the K. C. Top. A W. RR.
acres
the At. T. A S. Fe. Co. through
KAILKOAD
April, 1885. J
Subscribers will confer
a
Miles
explanation of column headings, Ac., see notes
on first page of tables.
Baltimore <& Ohio—Stock
Preferred stock
Loan due in 1880, extended
Loan, 1853
do
1870,sterling, £800,000, sink,
Baltimore loan, 1855-’90, sink, fund
Date Size, or
of
of
Par
Road. Bonds Value.
1,650
•
-
•
•
•
fund
•
•
•
•
m
m
m
m
411
421
'•
•
•
•
263
104
...
Bonds to State of Maryland
Sterling mortgage on Philadelphia Branch
....
Bonds, gold (Pittsb. & Connellsville b’ds collat’l).
Baltimore <£ Potomac—1st M (tunnel) gold, s. f. 1 p. c.
1st mort., road, gold, coupon, s. f. 1 per cent
2d mortgage, income, road and tunnel, reg
Belleville <£ El Dorado— lst(int. guar. St.L.A.&T.H.)
2d mortgage
Belleville<£ South. III.—1st M. (int. & s. f. guar.)
Bells Gap. —1st mortgage
Extension 1st mortgage
Consol, mort. (for $d50,000)
Belvidere Del— 1st mort. due 1877, extended, guar.
2d mortgage bonds of 1854 (guar, by C. A A.)
3d mortgage bonds of 1857 (
do
do
)
Consol, mortgage of 1876
Flemington RR. mortgage bonds
Bennington <£• Rutland— 1st mortgage
years.
of gross
“....
150
1^
90
92
52
52
56
....
.
^
64
64
64
67
12
59
22
374
m
m,
rs*
m
1853
1870
1855
1872
1874
1875
1877
1879
1855
1878
1883
1885
1871
1871
1875
1880
1880
1866
1873
1875
1883
1877
1854
1857
1876
1876
1877
•
•
•
»
....
1872
registered
Snowshoe to Sugar Camp, 26*2 miles; total
December
Outstanding
Rate per
Cent.
$100 $14,792,566
100
5,000,000
operated, 80 miles.
•
•
A
•
£i‘oo
£200
....
£200
1,000
....
....
£200
1,000
1,000
1,000
1,000
.
•
•
'..
•
.
1,000
....
The branch is the property of the lessors.
500
500
1,000
1,000
1,000
100
100
1,000
Opened
Rental, 40 per cent
earnings, and in 1884 was $204,283; paid interest, $23,487, and
dividends (10 per cent), $85,005. In Feb., 1885, 5 per cent paid. Stock
is $935,000 (par $50), and dividends are paid according to earnings.
Baltimore Sc Ohio—(See Map).—Ld*e of Road—The B.& O. system
embraces roads in Md., Va., Penn., Ohio, Ina. and Ill., which are clearly
shown in the accompanying map. By means of the Marietta & Cin¬
cinnati, via Parkersburg, the road has a direct route to Cincinnati.
The B. & O. mileage is: Balt, to Wheeling (main) 379 miles; Branches—
To Locust Point 5, Camden cut-off 1, Junction to Frederick City 3, Point
of Rocks to Washington 43, Curtis Bay Branch. 5 miles, Washington, Pa.,
to Pittsburg, Pa. (narrow guage), 38 miles, Bridges 3; total owned, 478;
branches leased—Hyattsville to Shepherd, Md., 13, Winchester to
Harper’s Ferry 32, Winchester to Strasburg 19, Strasburg to Harri¬
sonburg 50; total branches leased, 114; total B. AO. main and branches
553: leased, controlled and operated—Relay House to Washington 31,
Grafton to Parkersb’g, W. Va., 104, Wheeling to Washington, Pa., 32,
Pittsburg to Cumberland,Md., 150, Berlin Branch RR 9, Mineral Point
to Johnstown 46, Weavert’n to Hagerstown, Md., 24, Harrisonburg to
Staunton 26, Broadford to Mt. Pleasant, Pa., 10, Connellsville to Uniontown, Pa., 14, Bellaire to Columbus, O., 137, Sandusky to Newark, O.,
116, Pittsburg So. RR., 53, Newark, O., to Shawnee, O., 44, Chicago Junc¬
tion, O., to Illinois Junction, Ill., 263; total leased, Ac., 1,059; total
operated, 1,650 miles. The B. & O. is constructing a lateral road from
near Baltimore northward to be known as the Philadelphia branch.
It
will connect with the Balt. & Phila. Railroad now being
the State of Delaware, by way of Wilmington, and so on to
built through
Philadelphia.
Organization, Leases, Ac.—The corporation was chartered in Mary¬
in Virginia March 8,1827.
1,710,000
2.092,588
2,575,000
7,427,012
8,432,096
600,000
18-324
7,434,240
3,000,000
140,000
366,000
11,616,000
10,000,000
1,500,000
3,000,000
2,000,000
220,000
330,000
1,044,000
250,000
100,000
200,000
1,000
7,1864, and leased to Pennsylvania Railroad Company tor 99
land Feb. 28,1827, and
17
BONDS.
First section opened
May 24, 1830. The company was assisted by loans from the City of
Bonds—Prrnci •
INTEREST OR DIVIDENDS.
Amount
577,500
Sterling mortgage, sinking fund
Sterling mortgage, sinking fund
Purchase of Connellsv. RR (payable $40,000y’ly)
Loan,ster.,(s.f.£7,500) (B.O. & Ch.bds collat’l)
Bonds (Parkersburg Branch bonds collateral)....
Northwestern Virginia, 3d mortgage, 1855-85
Ber ks hire—Stock
Boston <t Albany—Stock
Plain bonds, coupon or
AND
great flavor by giving immediate notice of any error discovered in these Tables.
DESCRIPTION.
For
STOCKS
1,000,000
499,500
745,000
1,200,000
250,000
475,000
600,000
20,000,000
5,000,000
5
3
4
6
6 g.
6
6 g.
0 g.
6
5 g.
6
6
6
4*2
g.
5 g6 g6 g.
6
7
6
8
7
6
6
6
6
6
7
6
7
1%
2
7
When
Where
pal,When Due.
Payable, and by
Whom.
Payable
M. A
J. A
J. A
A. A
M. A
J. A
M. A
M. A
J. A
J. A
A. A
J. A
J. A
A. A
F. A
J. A
A. A
J. A
J. A
F. A
A. A
J. A
F. A
N.
J.
J.
O.
S.
J.
8.
N.
J.
D.
O.
J.
J.
O.
A.
J.
O.
J.
J.
A.
O.
J.
A.
J.
M.
F.
J.
J.
M.
D. Philadelphia, Pa. RR.
do
do
S.
do
do
A.
J. Treasurer, Trenton,N. J.
do
do
J.
N.
N.Y., Union Trust Co.
A
A
A
A
A
A
Q.-J.
Q. -J.
Baltimore, Office.
do
do
do
do
do
do
Lond’n.BaringBros ACo
Baltimore, Office.
London, J. S. Morgan ACo
London, I.S.MorganACo
Baltimore, Office.
Lond., B aring Bros. ACo.
Balt. AN.Y..D. M ACo.
Stocks—Last
Dividend.
May 16, 1885
Jan., 1885
At will.
1885
Mar. 1, 1895
1890
Mch. 1, 1907
May, ] 910
1886-1900
June 1, 1927
April 1,1919
1885
Balt., Balt. A 0. RR. Co.
do
do
Loudon, Brown,S. ACo.
New York Agency.
London or Baltimore.
Baltimore.
do
N. Y. St. L. A.AT. H. RR.
do
do
N.Y.St.L.A. AT.H.RR.
Phil,Cas8att,Town. ACo.
do
Stockbridge, Treasurer.
Boston, Office.
do
F. A A.
July 1, 1888
April 1, 1933
Feb. 1, 1925
July 1, 1911
April 1, 1911
Jan. 1, 1915
July, 1, 1910
Aug. 1, 1920
Oct.
1, 1896
July 1, 1893
Aug. 1, 1905
April 1, 1911
1902
1885
1887
Jan. 1, 1916
Jan. 1, 1916
Nov.
1, 1897
April 1, 1885
Mar. 31, 1885
Feb.
1, 1892
The tonnage of through merchandise East and West was as follows in
each of the past ten years : 1874, 752,256; 1875, 872,101; 1876,1,093,
393 ; 1877,1,047,645; 1878; 1,149,499; 1879,1,425,629; 1880,1,980,
397; 1881,2,014,110; 1882, 2,043,227; 1833, 2,108,325; in 1883-4
2,275,252 tons.
The gross and net earnings of the main stem and its branches and of the
other divisions, for the last fiscal year, as compared with 1882-83, were:
,—Earnings, 1882-83—, -—Earnings, 1883-84.—>
Gross
Gross
Main stem, etc
$11,579,839 $5,432,183 $11,506,958 $5,237,742
346,505
222,247
180,331
Washington Branch...
335,944
Parkersburg Branch..
260,061
643,164
141,723
738,527
Central Ohio Division.
387,788
1,169,773
1,103,838
376,638
Lake Erie Division....
Chicago Division
999,128
1,878,167
291,781
573,503
1,016,508
2,046,880
261,700
488,988
Pittsburg Division....
Wheeling Pitts. & Balt.
Pittsburg Southern....
2,813,172
72,090
43,787
1,478,274
2,294,827
141,896
112,125
1,042,132
New’k Somerset A St’le
Totals
164,781
8,450
19,511
168,532
13,621
16,668
757
$19,739,837 $8,705,823 $19,436,607 $7,760,300
The aggregate working expenses
and divisions, were 60*07 per cent
against 55*89
32,020
of the Main Stem, with all brandies
of the whole gross revenue in 1883-4,
cent the preceding year. Results of operating all lines
per
owned and controlled for the five years 1879-84 :
Years.
Gross Earnings.
Operating Expenses.
1880-81
$18,463,877
$11,390,479=61*69 p. c.
Net Earnings.
$7,073,398
7,454,662
11,034,014=55*89
8,705,823
19,739,837
11,676,307=60 07 “
7,760,300
19,436,607
—(V. 38, p. 114; V. 39,p. 209,568, 579,681,682,732; V. 40, p. 181,453.)
Baltimore Sc Potomac.—Owns from Baltimore. Md., to 8outh
18,383,875
10,929,213=59*44
“
“
End
The relations with the auxiliary branches and leased roads milesLong Bridge, Va., 43 miles ; and from Bowie to Pope’s Creek, 49
: total, 92 miles—including tunnel in City of Baltimore.
The road
complex, but the B. & O. virtually owns nearly all of these east of is controlled by the Pennsylvania Railroad Co.,
and first mortgage bonds
the Ohio River, and the total charges for rentals and guarantees are
moderate. In 1884 the stocks and bonds of allied companies held were
3,553,250, Gross earnings in 1883, $1,156,419; net, $347,128; profit
$21,786,000 (of which $7,711,000 were held by trustees). The company over interest, &c., $73,282. In 1884 gross earnings, $1,224,572; profit,
has been exceptional in not increasing its own stock or bonds for new
$58,527. Income bonds wholly held by Penn. RR. Co.
properties acquired, and had a surplus to credit of income account
Belleville Sc El Dorado.-An extension of Belleville A So. Illinois
Sept. 30,1884, of $47,703,796. Fiscal year ends Sept. 30.
from Du Quoin to El Dorado, 52 miles, and leased to St. L. Alton A Terre
Stocks and Bonds—The pref. stock carries 6 per cent dividends only.
The common stock has paid-in 1877, 8 per cent; in 1878, 8 in stock; in Haute. Rental 30 per cent of gross earnings up to $2,500 per mile, and
1879, 4 stock and 4 cash; 1880, 9; 1881,10; 1882, 10; 1883, 10 ; 1884, 15 per cent on all above that amoimt. Rental received for 1882,
,10. The range in prices of common stock in Baltimore in 1881 was $22,206; for 1883, $15,678 ; for 1884. $15,171. Stock, $1,000,000.
Belleville Sc Southern Illinois.—Owns from Belleville, Ill., to
183^210; in 1882,190S202; in 1883, 192^®205; in 1884, 1672)199;
in 1885 to April 17, 167*3180.
Duquoin, Ill., 56 miles. It was leased Oct. 1,1866, to the St. Louis Alton &
The Baltimore
& Ohio direct bonds of
1879 on
Parkersburg Terre Haute Railroad Co. Lease rental 40 per cent of gross earnings
Branch are secured by deposit of mortgage on that road. The sterling up to $7,000 per mile (except on coal, Ac.), 30 per cent above $7,000 and
mortgage of 1883 is made to William F. Burns, John Gregg and T. Har¬ up to $14,000 per mile, and 20 per cent on any excess of $14,000 per mile.
rison Garrett, trustees, and are secured also by pledge of £1,000,000 1st Rental for 1882, $167,990; for 1883, $167,719; for 1884, $158,799. In¬
mort. bonds of the Balt. A Phila. RR. (Md. State line to Phila.) The terest on bonds, and sinking fund $5,000 per year, guaranteed by lessees.
bonds of 1877, due 1927, are secured by the mortgage bonds of the B. Common stock, $430,000; pref. 8 per cent stock, $1,275,000, non-cumnO. A Chic, roads deposited as collateral.
lative. Dividends on preferred stock past four years have been—5*3
The B. A O. bonds of 1885 are secured by $10,000,000 2d consol, in 1884; 6*4 in 1883; 5^ in 1882; 4^ in 1881.
bonds of Pittsburg A Connellsville RR., deposited with Union Trust Co.
Bells Gap.—Bells Mills, Pa., toCoalport, Pa., 24 miles. Gross earn¬
of N. Y. as trustee.
ings in 1883, $110,255 ; not, $53,370; other receipts, $40,080; interest
Operations, Finances, Ac.—The fiscal year ends with Sept. 30, and paid, $25,550;
surplus, $67,900. Jan., 1883, scrip dividend of 15 per
for 1883-84 an abstract of the report was given in the Chronicle, Vol. cent was
declared on stock ($350,000). Of the consol, mort. $350,000
39, page 579. The reports do not contain a complete statement show¬ is reserved to retire prior issues.
Stock was increased in 1883 to
Baltimore.
are
fuaranteed by Pennsylvania and Northern Central. Capital stock,
ing 4he earnings of all the lines on freight, passenger and other busi¬ $550,000. Charles F. Berwind, President, Philadelphia.
separately. The income account of the B. & O. RR. Co. showed a
Belvldere Delaware.—Owns from Trenton, N. J., to Manunka
balance of $1,940,316 for the year 1883-84, after paying all charges and
10 per cent dividends on its stock, which balance added to that of Chunk, N. J., 67 miles; Millham Cut-off, 1 mile, Flemington RR., 12
prior years made the total surplus account $47,703,796 The income miles; total operated, 80 miles. Leased to United Companies, and trans¬
ferred to Pennsylvania RR. March 7,1876, by which operated as their
account for the year ending Sept. 30,J1884, was as follows:
Belvidere Division, and net earnings paid over as rental. In Feb., 1885,
Net earnings from transportation
$5,237,741 the
Flemington RR. Co. was merged in this. The first, second and
Receipts rrom other sources—
third bonds are guaranteed by the United Companies. In 1883 net earn¬
Dividend of 10 p. c. for year on Wash. Br. stock... $102,800
ing 8 were $568,259, and interest payments $268,950.
In 1884, net,
House rents received during fiscal year.
20,679
29,409 ; Tut., $263,543. Capital stock, $1,150,000; par of shareB, $50.
Increment from sinking fund, W. C. & P. L. RR
5,865—_129,344 $5Bennington
Sc Butland.—Owns from Rutland to Bennington,
Available revenue
$5,367,086 Vt., 57 miles; branch, No. Bennington to New York State Line, 2 miles:
Payments—
Chartered as West. Vermont in 1845, and consolidated
total, 59 miles.
in Harlem Extension In 1870. Since Sept. 10,1877, the Vermont division
Interest and taxes
$3,692,621
(as above) operated by the reorganized Bennington & Rutland. Stock
Less cash rec’pts & net eam’gs of B. &
$1,000,000 authorized, (par $50), and $502,000 issued, and bonds $475,O.AC.RR and L.Erie and C.O.divs... 2,018,328—1,674,292
000. In 1883 gross earnings $235,916; net $43,593; in 1884, grosft
Ground rents
34,028
$210,621; net, $4,724. 2 per cent dividend paid Dec., 1883.
Rental of Winchester & Potomac RR.
$27,000
Berkshire.—Owns from Connecticut State Line to West StockDo
Winchester A Strasburg RR
5,229
bridge, Mass., 22 miles. Leased in perpetuity to Housatonic Railroad
Do
Strasburg A Harrisonb.RR.
89,250
Company at 7 per ct. on capital stock, $600,000. Lessors pay taxes, Ac.,
Do
W.City APt. Lookout RR..
36,000
157,479
and for this reason the quarterly dividend due in Oct. is usually omitted
8traitsville Division, loss
32,782
Boston Sc Albany.—Owns from Boston, Mass., to Albany, N. Y.
Central Ohio Division loss
49,802—3,426,770 201 miles; Springfield to Athol, 49 miles; numerous branches, 99 miles
Balance, credited to profit and loss
$1,940,316 leased lines, 84 miles; total operated, 384 miles. The Boston &
An abstract of the last annual report
is given in the Chronicle, Vol. Albany was formed (Dec., 1867) by the consolidation of the Boston
39, p. 579, and contains the following remarks: The aggregate of coal & Worcester and the Western railroads. The five per cent bonds of 1882
and coke transported, including all divisions, was 6,392,675 tons, show¬
were issued to the State of Massachusetts in exchange for 24,115 shares
ing au increase for the year of 715,838 tons, and an increase compared of B. & A. stock held by the State, and in September, 1883, a stock divi¬
with 1882 of 745,659 tons, with 1881 of 1,853,048 tons audfwith 1581 dend of 10 per cent was made to stockholders. In 1881 »nd 1882 the
of 2.003,819 tons.
loss in net receipts was partly owing to the fierce competition between
ness
.
'
.
<X>
>
o
«
GO
H
O
O
w
03
RAILROAD
April, 1885. J
Subscribers will confer
a
AND
explanation of column Leadings, &c.,
see
Miles
Date
of
of
Bonds
Value.
1875
$1,000
notes
Size,
|
or
Par
first page
Road.
of tables.
Boston dt Albany— (G’onf </)—Loan of ’75,coup.orreg
Bonds issued to State for its stock
Boston Barre <£ Gardner.—1st mortgage
2d mortgage
3d mortgage (convertible into stock)
Boston Concord <£ Montreal—Old preferred stock...
Com. and new pf. stock (new pf. stock is $540,400)
■
•
•
•
•
.
•
•
38*2
....
....
186
186
Sinking fund bonds
....
Consolidated mortgage bonds (for $2,000,000)....
Improvement mortgage bonds
160
166
Bost.Hoosae Tun.d: West.—Debenture bonds
Boston & Lowell—Stock
Bonds
Bonds
Bonds
Bonds
....
140
....
..
.
.
....
;
.
Bonds
.
.
.
....
Lowell & Lawr., bonds..
Salem &. Lowell, bonds
Boston dk Maine—Stock
....
206
Bonds, coupon and registered
v
Improvement bonds
Boston ck N. Y. Air-Line—Stock, pref. (guaranteed)
1st mortgage
t
hoston dt Providence—Stock
Bonds to purchase branches, coupon or registered
Bradford Bordell dk Kinzua—1st mortgage
Bradford Eldred dk Cuba— 1st mort
Brooklyn Elevated—1st
....
54
50
68
....
41
54
mort
2d
mortgage (for $1,510,COO)
Brooklyn <£ Montauk—Stock ($1,100,000 is pref.)
•
..
South Side, 1st mortgage
New mort. ($1,000,000), guar, by L. I. RR.. gold.
• • •
82
54
85
c*
1882
....
....
1881
lOO&c.
....
....
100
100
....
1858
Outstanding
1873
1881
1883
....
1872
1875
1876
1879
1883
....
....
....
....
....
M.
....
1873-4
1985
....
1880
....
1873
1882
1881
1884
1885
1867
1881
.
....
940,491
675,936
620,000
250,000
200,000
226,900
7,000,000
3,500,000
600,000
2,975,500
4*2
6
6
4
7
4
2
5
4
500,000
390,000
500,000
1,000
1,000
1,000
3,500,000
Too
2,000,000
500 &c.
1,000
Avail.Rev.
$211,383
233,745
222,544
264,555
Y., 55 miles, and leases branches to Saratoga and to Sehuylerviile, N. Y.,
26 miles; total, 80 miles. The road connects with the line running
through the Housac Tunnel.
In March, 1883, all property ana rights
west of Hoffman’s Ferry (10 miles west of Schenectady) were reported
as sold to the N. Y. W. Sh. & Buff, for $400,000 cash and
$700,000 stock
of the N. Y. W. 8. & B.
In July, 1884, the State of Massachusetts pur¬
chased a clear title to the Troy <fc Greenfield RR. for $300,000.
The work of construction was done under contract by the Continental
Construction & Improvement Co. (120 Broadway. New York), and a circular dated Aug. 4, 1883, issued by that company, after referring to the
past history of the compauy and Us litigation, contained the following:
The decision affirms tne validity and legality of the corporation as consoli¬
dated under articles of agreement dated April 19, '80, known as the Bos.
Hoosae Tun. A W. Ry. Co. A new contract has been made by which the
Construction Co. agrees to complete the railroad to a junction with the
New York West Shore & Buffalo Railway, at Rotterdam, N. Y., a point
about 22^ miles southwest of Mechanicsville, N. Y.; and in partial set¬
tlement of indebtedness due and recognized by the decree, the Construc¬
tion Compauy become possessed of $2,000,000 debenture bonds of said
Boston Iloosac Tunnel & Western Railway Co. and $6,000,000 stock as
represented by trustees’ certificates. It is also proposed to exchange the
stock of this company upon which 85 per cent has been paid for full
paid certificates of such stock upon the basis of 85 shares full paid stock
for 100 shares upon which 85 per cent, has been paid. This exchange is
not compulsory. The Construction Co. offers for sale to its stockholders
who have paid up 85 per cent, the $2,000,000 5 per cent debenture bonds
of the Boston Hoosae Tunnel & Western Railway Co. and $4,000,090
stock represented by certificates of trustees; and the terms of sale are
as follows: Each stockholder of record on August 10 is entitled to sub¬
scribe upon every 50 shares held, to a block consisting of $1,000 5 per
cent debenture bond and $2,000 stock, at a fixed price of $650 for such
block. The debenture bonds are redeemable at will prior to
maturity
and may be converted into mortgage bonds if any are hereafter issued.
Stock, Sept. 30, 1884, $3,551,000.
In Sept., 1884, some negotiations with the Troy & Boston road took
place in regard to traffic which have n*'*t been made public. The direc¬
tors and officers of the company 1884-85 are as follows: Daniel B.
Hatch, Wm. II. Hollister, John P. Kennedy, Rudolph Keppler, Augustus
Kountze, David James King, Cyrus J. Lawrence, Robert B. Minturn,
Henry L. Morriil, Robert M. Morse, Jr., James O. Sheldon, Francis Smith,
Clias. F. Tag; Officers—Augustus Kountze, President; John P. Kennedy.
Vice-President. For year ending Sept. 30, 1884, gross earnings were
$464,970; net, $25,831.
For three months ending Dec. 31, 1884,
fross
$10,111; interest and taxes, $29,00. earnings
(V. 38, p.were
229, $132,420;
620; V. 40,def.,
p. 241.)
Boston Sc Lowell.—Owns from Boston to Lowell, 27 m.; branches Salem &, Lowell, 17 miles; Lowell & Lawrence, 12 miles; others, 19
miles; Middlesex Cent, and branch, 12 miles; leased—Nashua & Lowell,
Stony Brook RR.. 13 miles; Wilton RR., 15 miles; Peter
borough Railroad, 10 miles; Manchester & Keene RR., 29 miles; Nashua
180-432
750,000
500,000
-(V. 38, p. 202, 678, 705, 731.)
Boston Hoosae Tunnel Sc Western.—Owns from Massachu¬
setts State Line to Rotterdam (junction of N. Y. WestSh. <& Buff.RR.), N.
15 miles;
Boston, Office.
4,000,000
and available
1
624i000
1,945,400
500,000
2,000,000
4,558,000
999,500
500,000
100
revenue
Boston, Office,
Boston, Office.
1,000
extension of the White Mountain Railroad from Littleton to Grovetou
Junction is mortgaged.
In June, 1884, leased to Boston & Lowell.
See Y. 38. p. 705.
Of the sink, fund bonds due in 1889, there are outstanding in the hands
of other parties, $202,000, on which interest is paid; the trustees holding
$300,000 and the corporation holding $116,000 on which no iut. is paid.
Annual report for 1883-4 published in the Chronicle, V. 38, p. 078.
;
J.
100
....
Whom.
6
6 & 7
6
5
3
7
7
6
5
100
500 &c.
lines, which reduced the rates on through traffic. Last annual
report in V. 39, p. 493. Gross earnings for three months, Oct. 1 to Dec.
31, in 1884, $2,015,259; net, $72:*,039; same time in 1883, gross,
$2,142,152; net, $689,270. Operations for four years were as follows
Gross
Net
Div.
Passenger Freight (ton)
Years. Miles.
Mileage.
Receipts.
Mileage.
Receipts.* p. ct.
373 135,421,102 417,108,012 $7,875,285 $2,180,873
8
.309 151,255,032 374,317,338
7,790,372
8
2,189.381
369 157,255.971 373,535,450
8,539,875
2,380,971
8
384 167.402,441 374,347,455
8,148,713
8
2,362,830
*
Net receipts include income from rents, Ac.
(V. 38, p. 301, 595; V. 39. p. 182, 493, 241.)
Boston Barre Sc Gardner.—Owns from Worcester to Winchendon,
Mass., 37 miles. Stock, $875,277. Interest has been reduced to 5 per
cent.
Gross receipts in 18 ?3-84, $181,900; net $20,400; interest charge,
$40,386: deficit, $13,920, but large expenses for construction charged
in operating expenses. In March, 1885, the road was taken by the
Fitchburg for cne year, legislation to be procured for the merger ef the
two companies.
(V. 40, p. 337.)
Boston Concord Sc Montreal.—Owns from Concord, N. H., tc
Wood8ville, N. H., 93 miles; branches—Woodsville, N. H., to Grovetou
Junction, 53 miles; Wing Road to Mt. Washington, 20 miles; leased
Plymouth to No. Woodstock, 21 miles; total operated, 180 miles. An
Fiscal year ends March 31. The earnings, expenses
for four years have been as follows:
Years.
Miles.
Gross Earn’gs.
Expenses.
1883-84
167
$797,550
$586,172
107
902,906
669,157
167
920,195
097,051
.
Where Payable, and by I
J. & J.
M. & N.
1,000
....
When
Payable
J. A J.
A. & 0.
A. & 0.
1,000
....
Rate per
Cent.
6
5
5 & 7
3
6
3
100 &c.
....
Bond8 —Prinoi-
;pal,When Due.
$2,000,000
3,858,000
390,000
186,300
57,300
800,000
1,000,000
lOO&c.
200 &c.
the trunk
186
19
INTEREST OR DIVIDENDS.
Amount
11880--2432. 11880--223..4
34 34
on
BONDS
great favor by giving Immediate notice of any error discovered In these Tables.
DESCRIPTION.
For
STOCKS
(?)
750,000
250,000
7
6
6
6
3-5
7
6 g.
do
Worcester, City Nat. Bk.
do
do
....
&
A. &
J. &
M. &
J. &
A. &
M. &
J. &
J. &
M. &
A. &
A. &
M. &
J. &
J.
O.
J.
S.
J.
O.
8.
J.
J.
N.
O.
O.
N.
J.
do
do
do
do
do
do
do
do
do
do
do
April 1, 1892
March 1,1895
July 1, 1896
July 1. 1899
1903
Oct, 1, 1897
Oct, 1, 1898
Nov. 15, 1884
Boston, at Office.
do
Jan.,1893 & 94
1905
...
&
&
&
&
J. &
J. &
A. &
A.
F.
M.
J.
O. N.Y., N.Y. N. H & H. Co.
do
do
A.
N.
Bostor, at Office.
J.
do
do
D. N. Y., Marine Nat. Bk.
J.
New York.
O.
do
....
M. &
M. &
1895
1902
1893
1889
Y., Kountze Bros.
Boston, at Office.
do
1.
1,
1,
1,
1,
1893
1911
1913
Jan. 1, 1885
N.
do
do
do
do
do
Dividend.
July
April
April
July
July
1895
1895
Nov. 15,1884
do
do
do
do
Stocks—Last
S. N.Y., Corbin
S.
do
Bank’gCo.
do
April 1, 1885
1905
Nov. 1, 1884
July 1, 1893
June 1, 1932
Jan. 1, 1932
Oct. 1, 1894
1915
Mar. 1, 1887
Mar. 1, 191X
Acton & Bost. RR., 21 miles; total leasea, 115 miles; total operated, 190
miles. The Lowell & Lawrence and Salem & Lowell railroads were pur¬
chased and consolidated in 1879, and the Middlesex Central in 1883,
the Boston & Lowell assuming their bonds, which cannot be
paid off
before maturity. A joint business was formerly done between the Bos¬
ton & Lowell and the Concord RR., but from February, 1883, they have
been under separate managements.
In June, 1834, a lease of the North, of New Hamp. and the Bost. Con.
& Montreal railroads was voted on the terms stated in V. 38, p. 705, and
control of those roads was then assumed; but suits were commenoed by
some of the stockholders to have the leases annulled.
In Jan., 1885,
pureha e of an interest in Manch. & Keene RR. was voted and $500,000
bonds authorized for the purpose. The company had notes outstanding
Sept. 30 amounting to $737,uOJ. Earnings, etc , have been as follows:
Net
Gross
Payments
.
Years.
Miles. Receipts. Receipts.
Rentals. Int. A misc. Div.,p.o
140
$1,872,656
$584,269 $133,690
$298,057
4
.
2,085,022
2.128,701
675,345
735,302
941,463
154,808
128,613
34^,105
358.509
403,490
4**
2,864,127
323,400
5*a
-(V. 38, p. 678, 705, 731; V. 39, p. 71, 202, 732; V. 40, p. 60, 453.)
Boston Sc Maine.—Owns from Boston,
Mass., to Portland,
Me., 115 miles; branches, 11 miles; leased—Wakefield to Dauvers, 10
miles; Lowell to BallarJville, 10 miles: Bradford to Newburyport and
Dauvers, 27miles; West Aiuesbury to Newton, Mass., 4 miles; Dover,
N. H., to Alton Bay, N. H., 29 miles; total operated, 206 miles, less 3
miles leased. In March, 1883, voted to lease the Eastern RR. of Massa¬
chusetts, but after litigation the lease was h 11 to be invalid and a new
one was made in December, 1834, on the basis stated under title of
the Eastern road. The year ends 8ept. 30. The last annual report was
in V. 39, p. 653 ; earnings, &c., were as follows :
Net
Gross
Div.
Expenses
Years.
& Taxes.
Divdends.
Receipts.
Receipts.
p.o.
1880 81. ...$2,687,516
8
$1,662,657
$1,024,860
$560,000
8
2,850,731
1,929,858
920,873
560,000
8
2,991,429
920,669
2,070,759
560,000
8
3,001,803
2,016,349
985,454
560,000
-(V. 38, p. 509; V. 39, p. 522, 580, 652, 653 ; V. 40, p. 27, 213.)
Boston Sc New Ifork Air Line.—Owns from New Haven, Conn.,
to Willimantic, Conn., 50 miles; leased, Turnerville to Colchester, 4
miles; total operated, 54 miles. Formerly the New Haven Middletown
& Willimantic. A lease was made in Oct., 1882, to the N. Y.N.H.A Hartf.
RR. for 99 years at 4 per cent dividends per year on the pref. stock and
nterest on the bonds; the common stock is $833,100.
Boston Sc Providence.—Owns from Boston, Mass., to Providence,
I., 44 miles; branches,20 miles; leased, Attleborough to North Attleorough, 4 miles: total operated, 68 miles. The compauy have valuable
epot properties in Boston. Notes outstanding September, 1884, were
360,000. In January, 1884, voted to improve terminals in Providence
nd issue $600,000 bunds or notes ;js required, but in 1884 none wore
issued. Annual report in V. 39, p. 580.
.
Years.
Net Traffic
Divi-
Earnings.
Earnings.
$1,419,313
$395,403
dends.
8
1,584,839
1.669,134
1,727,147
352,330
8
345,579
8
Gross
352,153
8
-(V. 38. p. 147; V. 39, p. 552, 580.)
Bradford Bordell Sc Kinzua—(3-foot gauge)—Mileage from
Bradford, Pa., to Simpson, Pa., 15 miles; Kinzua Junction to Bordell,
3Jmiles; Rew City to Eldred, 12 miles; Simpson to Smethport, 11 miles;
total, 41 miles. Stock is $500,000, par of shares, $100.
Gross earninga
in 1882, $96,133; net, $18,445. John J. Carter, Titusville, Pa., Pres’t.
Bradford Eldred Sc Cuba.—Owns from Eldred, Pa., to Bolivar
and Wellsville, N. Y., and branch to Richburg, and Cuba to Little
Genesee, 54 miles. Stock, $480,000. There are also 2d mortgage bonds
for $60,000, 6s,
Gross earnings
due 1885. Foreclosure suit begun in February, 1885.
in 1882-83, $91,527; net, $14,497; gross in 1883-84,
$96,495; deficit, $7,602. R. G. Taylor, President. (V. 40, p. 213.)
Brooklyn Elevated.—This is-the Brooklyn Elevated Railroad
organized Oof., 1884, as successor to the Brooklyn Elev. Railway, sold In
foreclosure May 12, 1884. The authorized capital is $5,000,000, and a
second mortgage for $1,500,000 was to be made before July 1, 1885.
The structure has been carried on towards completion by the new organ zation.
(V. 38, p. 59, 114, 594.)
Brooklyn Sc Montauk.—Brooklyn to Eastport, L. I., 71 miles?
branches
td Fresh Poml Junction, 2 miles; to Rockaway, 9 miles;
total, 82 miles.
This was first the South Side Railroad of Long
Island, which was foreclosed Sept. 16, 1874, and reorganized as the
Southern of Long Island. On June 3, 1879, the property was again sold
in foreclosure of the second mortgage, and this company organized.
The preferred stock has a preference of 7 per cent, not cumulative.
It
is leased to the Long Island Railroad for
50 years at 25 per cent of the
net earnings of the whole Long Island RR. system, including its leased
lines. No rental has been reported as paid, the lessee claiming to
have exjiended all the income on improvements, payment of interest,
&c. The new mortgage for $1,000,000 was to take up the first, and
balance issued lor extension to Moriches; it is guaranteed by L. I. RR.
as to interest on $750,000, and both principal and interest on the $250,000.
A.
Corbin, President, Daniel Lord, Secretary, New York City.
great favor by giving
Subscribers will confer a
explanation of column headings, &c., see
on first page of tables.
Brunswick <& Western—1st mortg.
Buff.Brad.<t
notes
Miles
of
(for $3,500,000).
Erie—Stock
first mortgage......
Buffalo N. I. d Philadelphia—Stock,
Stock, preferred
1st mortgage, gold
2d mortgage, gold
Consol, 1st mortgage, gold
common...
Trust mort., gold (secured by collaterals)
General mortgage (for $24,500,000)
Buff. Pitts. & W., M. bds (for $7,500,000coup.)....
do
1st mort. (W. & F. RR.)
do
1st M.(OilCr. RR.) renew’d, ’82..
do
1st mort. (Un. & Titusv. RR.)
do
Consol, mort. (Pitts. T. & B.)
Buffalo dc Southwestern—Stock (one-half
1st mortgage bonds, gold
Burlington O. Rapids <& Northern—Stock
of itpref.)
1st mortgage
Iowa City & Western, 1st mortgage,
Ced. Rap. LF.<fc N.W., 1st M., g.,
do
1st M., gold, guar
gold, guar..
guar.,red.aft.’90
Consol. 1st mort. & collat. trust, gold, coup. & reg.
California Pacific—1st mortgage, gold
Pacific
2d mortgage, endorsed by Central
3d mort., guar, by C. P. ($1,000,000 are
California South— Old IstM. (to
3 p. c.)
.
be income bonds).
mile)
Camden dk Atlantic—Stock ($880,650 of it pref.)—
1st mortgage (extended 20 years in 1873)
2d mortgage, extended in 1879
New
mortgage ($10,000 per
Consol, mortgage
immediate notice of any error
Size, or
1883
AH.
274
50
38
25
120
67
67
713
369
73
55
177
All
114
114
114
132
1884
78
78
m
m
m
m
....
•
•
•
•
[Vol. XL.
discovered in these Tables.
Bonds—Princi¬
1865
1862
1870
1876
1,000
2,764,000
1,000
1,000
1,000
1,000
1,700,000
4,061,000
1,000
100
100 (fee.
1876
1879
1880
1881
1884
1867
1871
1875
1882
1,000
1,000
l,000&c
1,000
1,000
3.000,000
3,101,000
500
1,000
1,000
1,258,050 7
490,000
1,000
1,000
497,000
350,000
Brunswick to Albany, 171 miles,
$338,824;
233.)
and leased to New
7 per cent on out¬
Y., to Cor¬
Erie for
Rental,
ning, N. Y., 142 miles. Leased in 1863 to the New York &
400 years, and now operated by the N. Y. Lake Erie & West. Co.
$238,100—viz., 7 per cent on stock and bonds and $5,000 for organiza¬
Dividends and interest paid directly
5
7
6
5
5
7
6
3 &
6
2,250,000
1,600,000
50
standing bonds, $40,600 a year. Capital stock, $2,286,400.
Buffalo New iork Sc Erie.—Owns from Buffalo, N.
1^
825,000
1,905,000
4,666,000
1,000
1853
1854
1881
7
6
7
6
6
6
6
7
6
7
7
2
6
by the lessees.
in
Buffalo Pitts¬
Mileage as
follows: Buffalo Division—Buffalo, N. Y.. to Emporium, Pa., 121 miles,
Larabees. Pa., to Clermont, Pa., 22; Pittsburg Division—Buffalo, N. Y.,
to Oil City, Pa., 138; Titusville, Pa., to Pioneer. Pa., 9; Mayville, N. Y.,
to Chautauqua, N. Y., 3*2; Oil City to New Castle, Pa., 182; Rochester
Division—Rochester, N. Y., to Hinsdale, N. Y., 99; Tryonville to Union
City, 16 miles; Olean, N. Y., to Bradford, Pa., 26; Bradford, Pa., to
Kinzua, Pa., 26; Eldred to Tarport, 18 miles; Genessee Valley Ter. RR.,
2 miles; total operated, 663 miles, of which 40 miles are leased. The
Swain’s Br., owned by B. N. Y. & P., is leased to L. & P. RR.
In the consolidation the capital stock of the new company was made
equal to the sum of the capitals of the several companies, the new comalso
of the
commonall
liabilitiesstock
Eany
olders
assuming
and
thepreferred
of each
of thecompany
Buffalo N. Y. & Phila¬
delphia Ry. Co. and the Olean & Salamanca RR. Co. received 20 per
cent additional stock in kind, which was paid out of the stock then in the
treasury of the Buffalo Pittsburg <fe Western RR, Co. The stockholders
of the Buffalo Pittsburg <fc Western RR. Co. and of the Oil City & Chicago
RR. Co. (other than the Buffalo Pittsburg <fc Western RR. Co.) receive
Buffalo New York Sc Philadelphia.—A consolidation
February, 1883. of the Buffalo N. Y. & Philadelphia, the
burg &We8t.. Oil City & Chicago and Olean <fe Salamanaca,
merged. The
The Buffalo Pittsburg <fe Western RR. Co. received share
the stock of the Oil City <fe Chicago RR. Co. remaining
in their treasury after deducting the 20 per cent paid to the stockholders
ot the Buffalo New York Sc Phila. Ry. Co. and the Olean <fe Sal. RR. Co.
The consol, mort. is for $11,000,000, of which $4,000,000 is reserved
for prior liens, and it covers 205 miles of new road and the old 121 miles,
and 16,000 acres of coal lands owned by the Buffalo Coal Co. The trust
bonds due in 1923 are secured by $500,000 first mort. bonds of the
Genessee Valley Terminal Co., $700,000 of the first mort. bonds of the
Olean & 8alamanca RR., $1,600,000 first mort. bonds of the Oil City &
share for share.
for share for all
Chicago RR. and $300,000 mort. bonds of the No. West. Coal <fe Iron Co.
general mortgage issued in 1884 is for an authorized amount of
$25,000,000, of wnich $21,300,000 is reserved to redeem the previous
The
on
Where
g.
g.
g.
g.
gg.
do
do
do
do
do
do
do
do
do
do
& J.
Q.-M.
J. & J.
M. & N.
M. & S.
A. & O.
at the
Philadelphia, said
rate of six
lien upon the earnings of
stock.”
’84, was in the Chron¬
following income account, as com¬
and to be
per cent per annum when earned,
a
the company prior to the preferred or common
The annual report for the year ending Sept. 30,
icle, V. 40. p. 59, and contained the
pared with the previous year:
Gross
earnings
1882-83.
1883-84.
2,603,618
2,614,774
526,933
42,300
Net earnings
Rentals ana interest
888,859
99,510
Total net income
Disbursements—
Buffalo Pittsburg <fe Western
Interest on debt
Other interest
938,369
$
Dividends
Total disbursements
RR
104,271
1,131,745
g-
J.
g.
g.
g.
g.
g.
g.
J. & D.
M. & S.
A. & O.
A. & O.
A. & 0.
J. & J.
J. & J.
J. & J.
J. & J.
pref.
Dec. 26,1883
July 1, 1896
Dec. 1, 1908
July 1, 1921
May, 1, 1923
Mch. 1. 1924
April 1,
Feb. 1,
Apr. 1,
July 2,
& D.
Feb. 1, 1896
Apr. 1, 1885
N. Y. L. Erie & W. RR.
N. Y.,
Central Trust Co.
do
do
do
do
1921
1896
1912
1890
July 1, 1908
June
1. 1906
Sept. 1, 1909
Oct. 1, 1920
do
do
do
do
Oct.
1. 1921
April 1, 1934
N.Y.,Eugene Kelly & Co Jan. 1, 1887
N. Y., Nat’l Park Bank. Jan. 1, 1891
N. Y.,Cent. Pacific RR.
July, 1905
Jan
Boston.
1, 1922
Camden, Co.’s Office.
J. & J. Phila., Farm. & M. B’k.
do
do
A. & O.
do
do
J. & J.
Feb. 1,
1884
Jan., 1893
Oct., 1, 1904
July 1, 1911
Buffalo Sc Southwestern.—Owns from Buffalo to Jamestown,
N. Y., 67 miles.
Formerly the Buffalo <fe Jamestown; reorganized
in 1877 after foreclosure. In July, 1880, leased to New York Lake
Erie <fc Western for 99 vears—at 35 per cent of gross earnings, but
interest
on
bonds
guaranteed. Rental in 1883-84, $132,889. In January,
1885, the lessee made default in payment under the lease, and suit was
brought, but settlement was afterward reported and 2 per cent dividend
declared. (V. 40. p. 60.)
Burlington Cedar Rapids Sc Northern.—On Jan. 1, ’84, owned
from Burlington, Iowa, to Albert Lea, Minn, (including 11 miles leased),
94 miles; Muscatine, la ,
miles; Elmira,
Holland
The former com¬
252 miles; branches—Linn, la., to Postville, la.,
to Riverside, la., 31 miles; Vinton, la., to Holland, la., 48
la..to Montezuma, 83 miles; Clinton to Noel, 24 miles; leased.
to Worthington, Minn , 182 m.; total operated, 713 m.
pany was organized as
1868. Defaulted Nov.
the Burlington Cedar Rapids & Minn.,
June 30,
1, 1873. Property sola under forecloure June
22, 1876, and this company was formed by the purchasers.
Bonds of the Cedar Rapids Iowa Falls & Northwestern road are en¬
dorsed (endorsement is on the bonds); the 6 per cent bonds are redeem¬
able at 105 after Oct. 1, 1890. Of the 5 per cents $825,000 are reserved
to retire the 6 per cents. The company guarantees the above bonds
mentioned, and also guarantees $150,000 of M inneap. & St. Louis bonds.
In April, 1884, for the purpose of issuing additional bonds for exten¬
sions, the limit of authorized capital stock was raised to $30,000,000.
The consolidated bonds are dated April 1,1884, andissued at $15,000 per
mile to build new road, and secured by first mortgage bonds on the
The new
Decorah <fe
the Cedar Rapids Iowa Falls & Northwestern, Minnesota
roads built, deposited with the trustee of this mortgage.
roads building are the Cedar Rapids & Clinton, Chicago
Minnesota, and
and Dakota Division.
The annual report for
1883 as published in the Chronicle, V.
570, said: “ The gradual increase of traffic from year to year has
necessitated a corresponding increase in equipment; -and no provision
having been made to meet such contingency, the expense of additional
rolling stock of necessity had to be defrayed from net earnings.
38,
p
into the company’s treasury the
of road mentioned informer
incumbrances exist, by bonding such lines at
the road.
of the company's
system of railway, as measured by its earnings, and for the purpose of
procuring increase of traffic over its lines, and protection against
encroachments of rival interests, the directors have determined to con¬
tinue the work of extensions to a limited amount during the present
year in accordance with the policy adopted by the company at an early
day in its history, provision therefore having been already made ana
the work commenced. The proposed changes in the company’s articles of
incorporation, as per notice thereof issued to stockholders, were adopted
at the stockholders’ adjourned meeting held at Cedar Rapids on April 9.”
For two months from Jan. 1, 1885, gross earnings were $426,256,
against $415,827; net, $92,364, against $114,829.
For 1884 gross earnings were $2,796,459, against $2,846,772 in
1883; net, $878,690, against $878,595 in 1883. Net income, &c., for
Arrangements have been made to cover
money expended in constructing the lines
reports upon which no
rates not in excess of that borne by other portions of
“
In order to maintain the present standard value
Balance
1881.
1882.
$
632,186
$
917,001
78,057
995,058
59,190
691.376
1881.
$
424,562
198,270
280,459
13.583
1882.
$
484,624
71,965 \
368,502 j
22,396
1883.
$
895,378
48,596
943,974
1883.
$
516,130
385,845
37,725
939,700
sur. 4,274
229, 260, 331, 455, 570; V. 39, p. 208, 296, 348; V. 40, p.
-(V. 38, p.
150,181, 183, 281.)
916,874
947,487
def. 225,498 sur. 47,571
California Pacific.—Owns from
South Vallejo, Cal., to Sacramento,
Cal., 61 miles; branches—Adelante to Calistoga, 35 miles; Doer’s to
Knight’s Landing, 19 miles; total operated, 113 miles. Consolidation
(Dec. 23,1869) of California Pac. and California Pacific Extension com¬
panies. Leased for 29 years, from July 1,1876, to Central Pac. Rental,
$600,000 per annum, and three fourths of net earnings when in excess
of that amount.
Capital stock, $12,000,000. Extension bonds of
$3,500,000 and incomes of $1,000,000 were in default, and the new
bonds of 1875, guaranteed bv Central Pacific, were issued in place
thereof. R. P. Hammond, President, San Franoisco.
569,233
California Southern.—1This road from National City, Cal., to
Colton and San Bernardino, Cal., 132 miles, was built by Boston capital¬
$
1,275,935
130,751
396,000
1,632,016
do
do
do
do
do
do
do
do
do
do
....
7 g.
6
6
Jan. 1, 1913
Jan. 1, 1896
Dec. 1, 1884
Dec. 1, 1916
Q.-M. Phila.orN.Y.,Co.’sOffice
J.
F. & A.
A. & O.
J. & J.
F. & A.
6
Stocks—Last
Dividend.
Whom.
mortgages, (see V. 37, p. 508.)
In 1884 the earnings proved insufficient to meet interest, and a propo¬ three years was as follows:
sition to bondholders was made, substantially as follows: “ Interest on
the following classes of bonds must of necessity be paid in full, in order
Receipts—
to preserve the property intact, inasmuch as the lines of road covered by Net earnings
them are earning interest, viz.: First mortgage bonds Buffalo N Y. <fc Other receipts
Phila. Railway Co.; second mortgage bonds Buffalo N. Y. & Phila. Rail¬ Total income
way Co.; first mortg. bonds Warren <fc Franklin Railway Co. As to the
coupons on the remainder of the bonds, after careful consideration of
Disbursements—
the whole subject, it has been thought advisable to submit the following Interest on debt
proposition to you for your approval, viz.: That, beginning with coupons Construction and improvement..
due Aug. 1,1884, the holders of each class of bonds will take for the Equipment
coupons maturing at stated periods, for three full years, three per cent Otner expenditures
in cash and the balance in non-interest-bearing scrip, convertible into
Total disbursements
income bonds when the same are presented in sums of $500,
offices of the company, either in New York City or
income bonds to run twenty years and bear interest at the
pal,When Due
Payable, and by
J. & J. N.Y. Office, 35 Wm. St.
J. & J. N. Y. L. Erie & W. RR.
N. Y., Erie Railway.
J. & D.
do
do
J. & D.
6
7
573,000
500,000
866,000
943,666
1,500,000
5,500,000
6,500,000
584,000
....
1877
Payable
1,500,000
500 &c.
100 &c.
....
Cent.
.
1,000
1881
When
580,000
950,000
2,380,000
13,750,000
6,568,650
3,000,000
1,000,000
7,000,000
50
50
500 <fec.
500 &c.
1871
1878
1881
1882
Rate per
$2,000,000
1,000
stock,
syndi¬
tion expenses.
Outstanding
100
•
1876
and 83 miles projected to Columbus, Ga.
This was formerly the Bruns¬
wick & Albany, and the present company has $3,500,000 pref.
and $1,500,000 common. Mr. Fred. Wolffe in New York and a
cate in Frankfort were most heavily interested, and in August, 1884, it
was reported that a controlling interest was sold to H. B. Plant.
Gross
earnings in 1884, $308,098 ; net, $19,764. In 1883, gross,
net, $107,974. J. D. Davis, President, Albany, Ga. (V. 39, p.
Buffalo Bradford Sc Pittsburg:.—Owns from Carrollton, N. Yto Gilesville, Pa., 26 miles. Completed in 1866,
York Lake Erie & Western for 499 years. Rental,
Amount
Par
Value.
$500&o.
1,000
171
26
142
140
669
669
121
121
205
(thirty years)
Brunswick Sc Western.—From
Date
of
Road. Bonds
Pitts.—Gen.M.,(incl. 10,000 ac. I’d)..
Buffalo New York &
RONDS.
AND
INTEREST OR DIVIDENDS.
DESCRIPTION.
For
STOCKS
RAILROAD
30
1,406,686
ists and opened September 12,1882, but had no through connections.
Stock, $3,300,000. Defaulted on 1st mortgage interest due July 1,1884.
Tn Oct. 1884, an arrangement was made ,vnth Atchison Topeka Sc Santa
Fe RR. Co., by which old first mortgage bonds were to be exchanged for
income bonds, and a new mortgage of $10,000 per mile put on the whole
road, including a new section to be built to a connection with the Mo¬
Div. of the At. & P. (V. 38, p. 479; V. 39, p. 3,47, 492, 521,580,732.)
def. 643,647
def. 837,453 jave
Camden Sc Atlantic.—Owns from Camden, N. J., to Absecom
—(V. 38, p. 29,87, 113, 332, 358, 447; V. 39, p. 110,127,654,681,
Inlet, 60 miles; Penn. Ave to South Atlantic, 6 miles; Phil. Marl. &
707 ; V. 40, p. 59,150, 213, 303, 305, 393.)
>
Balance
April. 1885.
RAILROAD
i
Subscribers will confer
a
explanation of column headings, &c., see notes
on first page of tables.
Miles Date Size, or
of
of
Par
Road. Bonds Value.
Camden A Burlington Co.—1st mortgage
Canada Southern—Stock
1st mort., interest guar, by
2d mortgage, coup, or reg
N. Y. C. <fe Hud. Riv..
31
404
404
404
Canadian Pacific—Stock (guar. 3 p. c. div. till ’93). 1,730
Land mortgage bonds, gold (redeemable at 110)..
242
Carolina Central—1st mortgage, gold, coup, or reg.
....
2d mort., gold, income, reg., not
3d mort., gold, income, reg., not
Corson A Colxyrado—1st mortgage
cumulative
cumulative
_w.
Second Division mort
Cataicissa—Common stock
AND
BONDS.
31
great favor by giving immediate notice of any error discovered in these Tables.
DESCRIPTION.
For
STOCKS
New preferred stock
Old preferred stock
1st mortgage
—
Cedar Falls A Minn.—Bcr :ls on 1st div., extended.
Bonds on 2d division, si
”ig fund
Central Branch Onion Pacific—1st mort., gold
Funded interest bonds (coupons held in trust).
2d mortgage (Government subsidy)
Central B. R. A Bank, Oa.—Stock
General mort. “tripartite” bonds, coup.
Certificates of debt, (for dividend)
Ocean Steamship Co., guar., 1st mortgage
Central Iowa—1st mortgage
Debt certificates, issued for overdue coupons....
1st mortgage, gold, Eastern Division
Ill. Division, 1st mortgage ($16,000 p. m.)
—
..
1878
1883
....
1881
100
500 &c.
1883
i’ooo
93
34
14
61
100
....
100
730
620
....
1882
1870
1864
1866
1866
1879
’66-7-8
„
„
.
.
1872
1881
....
....
189
1879
1880
1882
1882
....
124
95
15,000,000
1,000
l,000&c
43^
....
$350,000
100
242
158
158
....
Outstanding
$500&c.
1,000
1,000
1,000
....
Mortgage bonds
Cayuga A Susquehanna—Stock
....
1881
1881
1881
1881
98
98
98
w
1867
INTEREST OR DIVIDENDS.
Amount
.
13,802,937
4,500,000
65,000,000
3,715.000
1,800,000
1,200,000
1,500,000
1,000
2,250,000
510,000
1,159,500
50
50
50
i;ooo,ooo
2,200,000
230,500
1,300,000
589,110
50,000
1,377,000
1,600,000
630,000
1,600,000
7,500,000
5,000,000
4,600,000
987,000
3,700,000
....
500 &c.
100
500 &c.
500 &c.
1,000
1,000
1,000
100
1,000
100
....
500<feo.
500 &c.
629,000
1,000
1,000
1,515,000
1,520,000
Rate per
Cent.
6
2
5
5
5
6
6
6
6
6
When
Where Payable, and by
Whom.
Payable
F. &
F. &
J. &
• M. &
F. &
g- A. &
g. J. &
g. J. &
A. &
J. &
J. A
3*2
3ia
6
7
413
7
7
6
7 g6
3
7
6
6
7
7
6 g.
6
A. Phila.. Penn. RR. Co.
A. N. Y., Grand Cen. Dep.
J. N. Y., Union Trust Co.
S.
do
do
N. Y., 63 William St.
A.
O. Montreal,N.Y.ofLondon
J. N. Y., Farmers’L.& T.Co.
J.
New York, Office.
do
do
O.
J.
J.
M. & N.
M. & N.
....
F.
J.
A.
J.
M.
M.
&
&
&
&
&
&
A.
J.
O.
J.
N.
N.
....
J.
J.
J.
J.
J.
A.
A.
A.
Bonds—Prinoi
pal,When Due.
Stocks—Last
Dividend.
1897
Feb. 1, 1884
Jan. 1, 1908
Mar. 1, 1913
Feb. 17,1885
Oct. 1, 1931
April 1, 1920
July 1, 1915
July 1, 1910
July, 1911
i884
Nov. 18,
Nov. 18, 1884
Phila., Pliila.& Read.Co. Feb. 1, 1902
do
do
Feb. 1, 1900
New York, 44 South st. Jan. 1, 1885
N.Y., J. Ken. Tod & Co. 1885 to 1889
do
do
Jan. 2, 1907
N. Y., 195 Broadway.
May 1, 1895
do
do
May 1, 1895
U.S. Treas., at maturity. 1896,’97, ’98
Dec
Savannah, Ga.
27, 1884
N.Y.,Nat.City Bk.&Sav. Jan. 1, 1893
1891
Savannah, Ga.
New York.
Jan. 1, 1892
Philadelphia Co.’s office
do
& D.
& J.
& J.
& J.
& J. N.Y., Mercantile Tr. Co.
do
do
& O.
& O. N.Y., Mercantile Tr. Co.
do
do
& O.
July 15,1899
3
mos.
notice.
April 1, 1912
1912
Med. RR.; Haddonfleld to Medford, 12 miles; total operated, 78 miles.
38;*>. 59, 177, 423,508; V. 39, p. 127, 208, 381, 553, 654, 681; V. 40, p.
150, 181, 240, 269, 363, 393.)
Carolina Central.—Owns from Wilmington, N. C., to Shelby, N. C.,
$550,405; net, $190,321; in 1883, gross, $558,871 net, $166.800; in 242 miles. Formerly Wilmington Char. & Rutherford, chartered in
1884, gross, $575,455 ; net, $104,398. (V. 38, p. 293.)
1855. Succeeded by existing company after foreclosure May 3, 1873.
Camden & Burlington County.—Owns from Camden, N. J.. Defaulted, and receiver placed in possession April 5,1876. Sold in fore¬
to Pemberton, N. J., 23 miles; branch, Burlington, N. J., to Mount closure May 31, 1880, for $1,200,000.
In 1881-82, gross earnings,
Holly, 7 miles; total, 30 miles. Leased to Camden & Amboy Railroad $603,874; net, $72,812; in 1882-83, gross, $596,328; net, $168,471;
Co., and now operated by the Pennsylvania Railroad Company, lessees in 1883-84. $555,275; net, $61,298. Wilmington Bridge bonds, $200,000,
of United Railroad & Canal Company’s lines. Gross earnings in 1883, at 7 per cent, are guaranteed by this company and interest paid.
The
$192,829; net, $39,547. Lease rental, $44,415, being 6 per cent on stock of $1,200,000 was placed for five years from Nov. 1, 1879, in the
stock and bonds, and $500 for organization expenses. Capital stock hands of the reorganization committee.
$381,925 and funded debt $350,000. Dividends in January and July.
Carson Sc Colorado.—(3 foot gauge.)—From Mound House Nev., to
Canada Southern.—Line of Road—Main line from International Candelaria, Nev., 158 miles; Candelaria to Keeler, Cal., 143 miles;
Bridge to Amherstburg, Ont., 229 miles; branch, St. Thomas, Ont., to total 301 miles completed to Sept., 1883. Road follows the valleys along
Pref. stock, entitled to 7 per cent if earned, and to as high as paid to com.
if more than 7. On main line ant branches in 1882, gross earnings were
Court right, Ont., 63 miles;
Erie & Niagara, 31; Sarnia Chatham & Erie,
7; Canada Southern Bridge & Ferry, 4; Toledo Canada Southern &
Detroit, 55, and Michigan Midland & Canada, 15; total of all lines
operated, 404 miles, of which 105 miles are nominally owned by proprie¬
tary comnanies under separate organizations.
The Company,
Alliances, &c.—The corporation was chartered in
main line opened Nov. 15,1873. Default
was made, and a reorganization forming the existing company was
completed in 1878. Interest on the 1st mort. is guaranteed by the Now
York Central Railroad Co. for 20 years; but the principal is not guar¬
anteed. In Nov.. 1882, a close contract was made with the Michigan
Central for 21 years from Jan. 1,1883, providing for the operation
of the Canada Southern by the Michigan Central, also for the placing of
the total earnings of both roads in a common treasury, out of which is to
be paid, first, the operating expenses of both roads; second, the fixed
charges of both; third, the division of the remainder between the two,
in the rate of two-thirds to the Michigan Central and one-third to the
Canada Southern; fourth, for the raising of J£6,000,000 by a 2d mort.
on the Canada Southern to double-track its line, to build a bridge over
Niagara River, and for other extensions and improvements.
Canada Feb. 28,1868, and the
Income.—For the first half of 1884 the income account was in V, 38,
p. 763. See also Michigan Central.
The statement for Michigan Central
and Canada Southern in 1883 gave this company $608,333, out of which
a dividend of 4 per cent was paid. The income account of Canada So. for
the year was as follows:
INCOME ACCOUNT.
$4,30o,00o
2,475,000
$1,825,000
Interest and rentals
Balance
Division as per traffic agreement, viz.;
Canada Southern Railway one-third
Appropriated as follows:
$608,333
Divid’nd— 2p.c. Aug..’83,$300,000; 2p.c. Feb.,’84, $300,000
$600,000
-(V. 38, p. 378,751, 763 ; Y. 39, p. 721, 733.)
Canadian Pacific.—(See Map.)—This company
rated February 18, 1881, under a charter from
Canada. The company has an important contract in
was incorpo¬
the Dominion of
its charter, receiv¬
ing from the Government $25,000,000 in cash as a subsidy, also 25.000,000
of land, all fit for settlement The Government also con¬
to the company, free of all cost, 713 miles of road. The company
acres
veyed
$441,994; net, $196,308.
H. M. Yeriugton, President, Carson. Nev.
Catawlssa.—Owns from Tamanend, Pa., to Williamsport, Pa., 94
miles; branch, Summit Station to Silver Brook, 4 miles; total operated,
98 miles. Leased from Nov. 1,1872, for 999 years to Philadelphia &
Reading. Rental, 30 per cent of gross earnings and $8,000 a year for
company expenses. Funded debt is also assumed
cent is guaranteed on the preferred stocks.
by lessees.
Seven
per
Cayuga Sc Susquehanna.—Owns from Susquehanna River to
Leased in perpetuity to Delaware Lackawanna
& Western at a rental of $54,600 a year.
Dividends on capital, 9 per
cent per annum. (V. 38, p. 705.)
Ithaca, N. Y., 31 miles.
Cedar Falls Sc Minnesota.—Owns from Waterloo, la., to Minn.
Line, 76 miles. Leased to Dubuque & Sioux City for 40 years
January 1, 1867, at $1,500 per mile as a minimum and a con¬
tingent of 35 per cent of gross earnings from $3,500 to $7,500 per mile
ana of 30 per cent ot any excess over $7,500 per mile.
The Dub. & 8. O.
(carrying this road) is leased to Ill Central till 1887, with option to the
State
from
lessee of renewing. Capital stock, $1,586,500. A sink, fund of 1 p. ot.
per ftnnnm is provided, and some of the above bonds are in the sinking
fund. All operations and earnings are included in Illinois Central re¬
ports. The minimum rental is $113,370. J. S. Kennedy, Pres’t,N. Y.
Central Branch Union Pacific.—(See Map Mo. Pac.)—Owns from
$14,000,000
9,700,000 Atchison, Kan., to Waterville, Kan., 100 miles; leased Atchison Cel. A
(69*28) Pac. 254miles ; Atch. J. Co. & W., 34 miles; total operated, 388 miles.
earnings of both roads
Operating expenses and taxes
Percentage of earnings
Net earnings
Gross
'
eastern side of Sierra Nevada Mountains and may eventually join South¬
ern Pacific at .Mojave. Stock, $6,380,000 authorized; $2,760,000 issued.
Gross earnings in 1882, $442,254; net, $246,104.
Gross in 1883,
also acquired 449 miles of road and branches from Montreal west to Callendar for $5,423,333, which is a lien on 441 miles of those roads.
The whole road is to extend from Montreal to Port Moody on the
Pacific coast in Brit. Columbia, 2,895 miles, with branches and leased
lines of 1,065 miles, making a total of 3,956 miles in the whole system,
when completed, as per detailed statement in the Chronicle, Y. 39, p.
208. Up to Jan. 1,1885, there remained only 400 miles of the main
line to be completed, which would make the company owner of 3,327
mites, including 432 miles of branch lines.
In Nov., 1883, leases were ratified of the Credit Valley Railway and
itsleased lines, about 183 miles, and the Ontario & Quebec Railway, 200
miles, and 10 miles of the Atlantio & N. W. Railway, with bridge facili¬
ties at Montreal! The leased lines give a road from Montreal via Toronto
to St. Thomas on the Canada Southern.
The authorized stock is $100,000,000, and in Nov., 1883, the Domin¬
ion Government gave a guarantee of 3 per cent dividends per annum
The Un. Pac. Cent. Branch was formerly the Atchison & Pike’s Peak RR.,
and was one of the roads embraced in the act of Congress incorporating
the Union Pacific RR.
The stock is $1,000,000, of which the Union
Pacific holds about $858,700. The company received a Government
subsidy of $1,600,000.
Default on interest was made May 1,1873, but
foreclosure took place. It is operated as a part of the Missouri Paoiflo
system, under an arrangement with the Union Pacific, terminable on
six months’ notice. Fiscal year ends Dec. 31. In 1884 gross earnings
were $1,715,145; net, $594,171;
rentals paid, $287,375; interest on
debt, $140,100; miscellaneous, $5,709; surplus, $16),937. (V. 38, p.
no
331, 358.)
Central of Georgia (A Bank).—Owns from Savannah, Ga., to
Atlanta, Ga.. 295 miles; branch, Gordon to Milledgeville, 17 miles;
leased—Augusta & Savannah, 53 miles; Eatonton Branch Railroad,
22 miles; Southwestern Railroad and branches, 343 miles; total opera¬
ted, 730 miles; also takes net results of 170 miles more operated by
separate companies.
In January, 1880, purchased the former
Savannah & Memphis road—Opelika to Gooawater, 60 miles—for
$700,000.
In 1881 the control of the Port Royal & Aug.
was bought;
also a lease of the Georgia Railroad for 99 years was
taken in the interest of this company and the Louisville & Nashville,
which operate it on joint account. Oct 31, 1883, the whole system
and connections embraced 1,621 miles. The certificates of debt were
issued, June, 1881, as a dividend to stockholders—$40 per share to Cen¬
tral Georgia and $32 per share to Southwestern. The company owns a
large interest in connecting lines and the Ocean Steamship Co. of
Savannah. This company and the Georgia Railroad Company are joint
owners of the Western Railroad of Alabama, purchased at foreclosure
sale in April, 1875. The “tri-partite” bonds are issued jointly by this
company, the Macon & Western and the Southwestern.
The annual report for the year ending August 31,1894, was in the
$65,000,000 of the stock outstanding; and the remain¬ Chronicle, V. 39, p. 653. The income account was as follows:
ing $35,000,000 of stock was deposited with the Government to be
1882-83.
1883-84.
withdrawn by the company as the completion of its road calls for it. and
Gross income
—$4,977,807
$4,659,082
issued then with the same guarantee. In February, 1884, the Dominion
2,950,115
2,851,455
Government modified its agreements and loaned the company $22,- Expenses
500,000, taking a lien upon the railroad and lands of the company, sub¬
Net inoome
$2,027,692
$1,807,627
ject to the prisjr liens,
*1,982,517
1,848,491
There was no mortgage on the road (except the lien above mentioned of Interest, rentals and dividends
Surplus’" $45,175
Def.. $40,864
on the Government $13,996,000 of these bands (not draw¬ * Dividend in 1882-83, 3 per cent;
eposited with
in 1883-84, 6 per cent.
ing interest), and there are outstanding less than $4,000,000, against
which are deferred payments on lands sold amounting to $2,357,000. -(V. 39, p. 653.)
Central Iowa.—Owns from Albia, la., to Northwood, la., 189
The bonds are receivable for lands and may be drawn and paid off at
110. Gross earnings in 1884, $5,750,521; net, $1,191,891.
For two miles; Muchakinock Branch, 2 miles; Grinnell & Montezuma Branch,
months from Jan. 1, 1885, gross earnings were $324,341, against $499,- 13 miles; Storey City Br., 35 miles; Newberg branch, 27miles; Belmond branch, 22 miles; total old road, 288 miles.
Eastern Division
283 in 1884; net, $151,128, against $266,597 deficiency in 1884, (V
for ten years on
S5,423,333
441 miles) and the bonds are on the lands only. There are
RAILOD
STOCKS
AND
BONDS.
.
[Vol.
XL.
■■
RAILROAD
April, 1885. J
STOCKS
AND
BONDS
23
Subscribers will confer a great favor by giving Immediate notice ot any error discovered In tbese Tables.
DESCRIPTION.
For
explanation of column headings, Ac., see notes
on first page of tables.
Miles Date
of
of
Road. Bonds
INTEREST OR DIVIDENDS.
Size,
or
par
Value.
Amount
Outstanding
Rate per
Cent.
When
Where
payable, and by Stocks—Last
whom.
Payable
Bonds—Princi¬
pal, When Due.
Dividend.
•
Central Iowa—(Continued)—
1st mort. on branches ($12,000 per mile)
Consolidated mort., gold (for $6,748,000)
Oftr
certificates
100
501
Bonds (convertible Nov., 1875 to 1877)
....
Consolidated mortgage (for $25,000,000)
Newark & New York. 1st mortgage
Am. Dock A Imn.Co. new M. bds., guar. C. of N. J.
Adlustment mort. (redeemable any time at par)..
Debenture bds., conv. into stock, Jan., ’85 to 1907
Centra1 Ohio— Preferred and common stock
mortgage bonds
97
7
....
....
....
137
137
Central Pacific—Stock
3,003
742
1st mort., gold, (2 sinking funds, $50,000 each)..
50
Califor. State aid, gold (s. fund, $50,000) extend.
146
lstm.S. Joaq’n Val. Br., gld (s.f. $50,000)
742
U. S. Loan, (2d lien on certain terms)
158
Western Pacific, 1st mort., gold, (s. f. $25,000)...
Government lien
1st M., gold, guar., (8.
Cal. & Oregon,
f. $100,000)
Cent. Pac., mortgage, on C. A O. Branch
San Fran. O. & A., 1st M. is. f. $100,000)
Land grant mortgage bonds
Income
123
152
192
20
bds.($6,000,000),skg.fd.,10 p.c.perann’m
Conv. deben. bds. (fer $10,000,000), coup, or reg.
1,000
1,000
1,000
500 Ac.
1,000
100 Ac.
1,000
50
....
1,000
....
100
....
1865-8
1864
1870
1,000
1,000
1,000
....
....
1869
1869
1868
1872
1870
1870
1,000
1878
....
1885
1,000
1,000
1,000
1,000
1,000
By extensions since 1830 ^over 300 miles of track have been laid, and
Peoria, Ill., reached, and by the lower amount of bonds issued per mile
on the new road, the bonded debt is down to an average of $15,000 per
mile on the new and old lines together.
In Oct., 188 i, default was made in payment of interest; in Jan., 1835,
also, the coupons were partly purchased and it was proposed to convert
the divisional bonds into consol, mort. bonds, with the back iuterest and
one-half the interest for two years from June 1,1885, to b^> funded, the
other half payable in cash as it matures. See the President’s circular
in V. 40, p. 423.
The fiscal jrear ends Dec. 31. The income account for 1881, compared
with the preceding year was as follows:
income Account.
1883.
1884
Total
Balance
Collections
$1,448,259
$ 409,800
$331.000
35,835
$121,795
30,600
11,693
8,870
$175,705
on
Sur.
$97,341
Sur.
$99,804
Def.
$166,993
$57,193
Def.
$54,684
2,463
old accounts
Net balance
—
$1,392,587
$173,046
1
2 514
(V. 33, p. 114, 447; V. 39, p. 209,233,324,343,381,403, 431,461,
493; V. 40, p. 92, 150, 240, 392, 423.)
Central of Massachusetts.—This company was organized Jan
10,1883, by the bondholders who purchased the Massachusetts Central
at foreclosure sale Sept. 1, 1883. Road completed from B >ston to Jeffer¬
son, Mass., 48 miles, aud proposed to extend to Northampton, 103*2
miles. (V. 37, p. 202. 267, 321, 479, 533 ; V. 33, p. 293; V. 39, p. 209,
521; V. 40, p. 304. 481.)
Central of New Jersey.—Owns from Jersey City, N. J., to Phillipsburg, N. J., 73 miles; branches, 30 miles; leased and operated,
in New Jersey, 269 miles, and in Pennsylvania, 201 miles; total
operated, 573 miles. The princinal leased lines in Pennsylvania are
the Lehigh A Susquehanna and the Lehigh A Lackawanna, with
their branches, &e. Under the lease of 1883 to Philadelphia A Reading
the minimum rental of Lehigh & Susquehanna is $1,414,400 per year
and maximum $1,728,700 till 1888; then $1,885,800 till 1893, and
after that $2,013,000. In February, 1877, the property was placed in
the bands of a receiver. A majority of the Lehigh & Wilkesbarre Coal
Company’s stock is held by Central of New Jersey, and of the
$11,500,000 Lehigh A Wilkesbarre Coal bonds, $6,116,000 are held
by Central of New Jersey and receive interest after all other bonds
are satisfied.
The American Dock & Improvement Company is vir¬
tually owned by the railroad company, and the right exists to
purchase the bonds by lot at 110. The adjustment bonds are payable at
will. The 6 per cent convertible debenture bonds run positively till
1908, and were issued Oct., 1883, in exchange for the old income bonds
and overdue interest, and balance to pay floating debt and for better¬
ments, &c.
On June 1, 1883, the road was leased for 95 years to the Phila. A
Reading RR. Co. at 6 per cent on stock and interest on bonds. In the
fiscal year ending Nov. 30, 1884, the P. A R. Co., lessee, reported gross
receipts on this roal of $10,441,095; net receipts, $4,445,980; fixed
charges, $4,806,420; dividends paid under the lease, $1,113,792 ; de¬
ficit to lessee, $1,474,231. On Feb. 1,1335, default was made in pay¬
ment of 1st mortgage coupons.
The following is a statement of
earnings and expenses on all the lines
operated in 1882:
1881.
Gross
earnings
Operating expenses
...
Net earnings
$10,927,593
6,152,795
4,172,143
$11,312,296
6.221,225
$5,0 *1,071
4,493,794
$602,655
$597,276
$4,774,798
Interest, rentals, etc
Surplus
i
1832.
Interest on income bonds was not charged.
(V. 33, p.
V 89, p 545, 580, 606, 654, 674; V. 40, p. 119,181, 270,
5,000,000
5,454,000
5,000,009
3,000,000
2,500,000
59,275,500
25,883,000
6,080,000
25,885,000
2,624,000
1,000
thf* three classes.
600,000
500,000
....
Mississippi River, 124 miles, aud Illinois Division to Peoria, 89 miles.
Total, 501 miles. Chartered as Central RR. of Iowa and opened in 1871.
Defaulted and placed in hands of a receiver in 1873. Reorganized under
present title June 18.1879. after foreclosure sale under first mortgage
July 18, 1877.
The stock is $8,076,600 common; 1st preferred, $871,500, and 2d pre¬
ferred, $1,078,300.
First preferred has prior right to 7 per cent
(non-cumulative): then 2d preferred entitled to 7 per cent; any surplus,
after payment of 7 on common stock, to be divided pro rata between
Net earnings
Deduct—
Interest on bonds
Interest on car trusts
Miscellaneous
3,852,088
3,393,900
18,563,200
5,000,000
4,400,000
15,000,000
100
....
1869
1872
1874
1867
1881
1878
1883
to
Gross earrings
$1,200,000
(?)
1.000
50^,009
48
48
573
74
Common stock
Central of New Jersey— Stock
Mortgage bonds
do
$1,000
•
Central Massachusetts—Preferred stock
1st
1882
1884
1,970,000
6,000,000
3.690,000
687,000
5,375,000
3.285,000
5,000,000
6
6 g6
lie
7
7
7
7
5
7
6
3
6
Q.-J.
g.
g.
g.
g.
J.
J.
M.
M.
J.
M.
F.
J.
J.
A.
I.
J.
A
A
A
A
A
A
A
A
A
A
A
A
J.
J.
N.
N.
J. Balt., at B. A 0. office.
do
S.
do
A. N. Y. A San Francisco.
J.
New York, Office.
J.
do
do
O.
do
do
J.
U. S. Treasury.
New York, Office.
J.
U. S. Treasury.
J.
New York, Office.
J.
New York A London.
J. N. Y.f Cent. Pac. Office.
O.
do
do
N.
N. Y. and San Frau.
J.
New York.
....
g.
g.
g.
g.
J.
J.
J.
A.
M.
J.
A
A
A
A
A
A
1912
Juue 1,1924
Sept. 1, 1884
1890
Nov., 1902
July 1. 1893
1887
July 1, 1921
May 1. 1903
Mayl, 1908
Jari. 31,1885
8ept., 1890
Feb. 1,1884
1895 to ’98
July 1, 1888
Oct. 1, 1900
1895 to ’98
July 1, 1899
1899
Jan. 1, 1888
Jan. 1, 1892
Julv 1.
Oct
1
1890
1890
May, ’34 to ’88
Jau., 1915
the So. Pac. in Cal., Ariz. andNewMex., 1.341; Cal. Pac.,115, and others,
332; total, 1,791 miles; total length of road operated and accounted for
January 1,1884, 3.003 miles. In connection with the Union Pacific, the
Central Pacific forms a continuous line from San Francisco, Cal., to
Couucil Bluffs, la. (1,918 miles), which was opened May 10, 1869. The
Cal. A Oregon line is being extended northward to a junction with
Oregon A California at the State line, and lacks about 100 miles ot com¬
pletion.
In March, 1835, it was aunouuced that the Central Pacific lines had
been leased to the Southern Pacific Company, and that the prior lease of
the S juthern Pacific Railroad to Central Pacific was relinguished to the
compiny, A minimum rental of $1,2.>0,000 (payable anuuallr on
May 1), is provided for by the lease, but this rental is first app’icible to
the p ayment of Central Pacific floating debt. The lease was not submitted
rostockhol levs for their confirmation or approval, and the effect of the
lease is to fix the control of Ceutral Pacific without regard to ownership
of the stock.
(See absrract of lease, V. 40, p. 480.)
same
The Charter, Leases, Ac.—The C. P. was a consolidation (Aug.
1870) of the Central Pacific
22.
(organized Oct. 8. 1864), California A
Oregon. San Francisco A Oakland. Sau Francisco A Alameda and San
Joaquin Valley railroads. The act of Congress of July 1, 1862, granted
U. S. bond subsidies aud lands to the Pacific railroads; the act of July,
1864, made the lieu of the Government subject to that of the first mort¬
gage bonds, but authorized the Government to withhold one-half the
charges for transportation on its account, aud also to receive 5 per cent
of the net earnings; the “Thurman” act of May 8, 1878, directed that
the other one-half of charges for Government transportation should be
withheld, and also that the company should pay $1,200,000 yearly to
the Government for the sinking fund of its debt or as much thereof as
shall make The 5 per cent of net earnings, plus the whole transportation
account, equal 25 per cent of the whole net earnings for the year. The
leases are numerous and mostly for short dates, and the terms of each
in brief were stated in the Chronicle. V. 37, p. 47. The most import¬
ant leases, those of the Southern Pacific ro.aas. expired on January 1 and
Nov. 1,1885, and. according to the last annual report, were renewed for
another short term on substantially the same terms.
Stock and Bonds.—Prior to the current year
paid, viz.: In 1877, 8 per cent; 1880, 6 per
the following dividends
cent; 1831, 6 ; 1882, 6 ;
1833, 6; in 1884, 3. Prices of stoek since 1879 have been; In 1880,
63 3)97*2: in 1331.80*2^102^; in 1882, 3238 3)97*8; in 1883. 613>83; in
1884, 30®673t; iu 1885 to April 13, 20*2330. Most of the issues of
bonds have sinking funds, as seen in'the table above, but these sinking
funds are invested "mainly in the Southern Pacific RR. bonds, and accu¬
were
mulate; aud the bonds
are
not called in.
The company’s sinking funds amounted Jan. 1,1884, to $6,933,044,
of which about $6,301,000 was invested iu tbe Southern Pacific bonds,
The land grant bonds are retired with proceeds of laud sales.
The State Aid bonds fell due
July 1, 1834. and $1,000,000 were paid
off, and tbe balance extended for four years.
The debenture bonds of 18 35 rniybe converted into Ce itral Pacific
stock at anytime up to 1893, at tbe market value of the stock at the time
of surre .der; but no .stock will be issued at less than 50 per cent.
The Land Grant.—The total land granted the Ceutral Pacific and the
California & Oregon companies was’about 12,000,000 acres, of which
1,411,477 acres had been sold to Dee. 31
1883, 379,787 .acres were sold for $880,960.
1883, for $5,382,822 In
Land contracts on hand,
$1,052,970.
Lands yet unsold, 10,588,523 acres.
Operations, Finances, Ac.—The Central Pacific Railroad has had a
strict monopoly of business in the territory occupied by it, aud even
iu 1883, when five eastern routes are open from the Mississippi River, the
Ceutral Pacific still controls every approach to San Francisco. The
principal questions bearing upon the company’s present aud future
status are in regard to the effect of the construction of new lines to Cali¬
fornia and Oregon ; the Government requirements for sinking fund; and
the terms of lease of the So. Pac. road after 1885.
The dividend of August, 1884, was passed aud the statement of
iu *ome for six months was in V. 39, p. 96, showing balanoe of surplus
earnings of $200,030, but deficit of $452,000, after paving Government
aud sinking fund charges. A general balance sheet for June 30, ’84, giving
the assets and liabilities at that date, wasiu the Chronicle, V. 39, p. 493.
The annual report is not issued till about seven m mths after the cloie
of the fiscal year. From the
preliminary statement for 1884 (in V. 40,
p. 213) the following is compiled:
INCOME ACCOUNT.
rental, $386,314.
Interest on debt
Dividends (6 per cent*
New York, at office.
do
do
do
do
do
do
do
do
do
do
do
do
do
do
Agency.
Southern Pacific.)— Line of Road—
Ogden.Utah, 883 miles, aud auxil¬
iary lines, 332; total, 1,215 miles; operated under lease or contract—
Total gross
The road between Newark & Columbus (33 miles) Is
with the Pittsb. Cin. A St. Louis RR. Co.
Q.-M.
New York,
Central Pacific.—(See Hap of
—Main line—San Francisco, Cal., to
285, 595, 738 ;
364, 393,481.)
Central Oltlo.—Owns from Bellaire, Ohio, to Columbus, Ohio
137 miles. Chartered in 1847 and opened in 1854. Reorganized in
1865. Leased to the Baltimore & Ohio, for 20 years, Nov. 11, 1866;
rental, 35 per cent of gross e;a-nings. Feb. 23, 1880, the lease was
extended to Dec. 1, 1926. with the option of renewing for terms of 20
years perpetually. In 1881-82 gross earnings. $937,401; net, $314,932;
rental, $345,590. Inl882-33 gross earnings $1,103,839 ; net, $387,788 ;
owned jointly
N. Y., Taiutor A Holt.
F. A A.
M. A N.
3
6
7
6
6
6
6
6
6
8
6
8
6
A. A O.
J. A D.
earnings
Receipts—
Net earnings
Interest on sinking funds
Cash from land sales
Miscellaneous
Total income
Disbursements—
,
1882.
1883.
1884.
$25,662,757
$
8,560,991
281,260
$24,744,421
$
8,09 4,150
335,125
$22,166,000
9,573.736
$
3,443,413
9,010,511
$
3,546.591
5,901,000
$
3,880,000
3,556.530
3,556,530
711,000
20,485
574.000
7,236
$
4,807,000
373,000
472,000
249,000
Subscribers will confer
a
explanation of column headings, &c., see notes
on first page of tables.
Charleston <& 8avannah— 1st M., C. & S., guar
iSrnded int. bonds, S. & C. RR., guar, by S. Car...
1st mortgage,
Savannah & Charleston RR
Charlotte tfoiumbia <t Augusta— 1st mort. consol...
2d Mortgage
Columbia & Augusta
1st mortgage
Consol, mortg., gold (for
Ohartiers— 1st mortgage
Outstanding
$500
$505,000
101
ioi
191
191
....
Chesapeake<& Ohio—Purch. money funding bonds...
1st mortgage, gold, series “A”
do
“B”
do
do
2d mortgage, cur. (interest in stock or cash)
1st mortgage, gold, Peninsula Extension
1st mort.^ gold, on extension (for $3,000,000)
23
428
503
428
428
75
....
Equipment trust bonds
...
Ches. Ohio<£ Southicest.—1st M., gold ($19,000 p. m.)
2d mortgage ($11,000 per mile)
Paducah & Elizabetht’n, 1st M. ($300,000 are 8s)
353
353
186
Equipment trust bonds for $2,000,000
Cheshire—Stock, preferred
64
Bonds, not mortgage
....
Chicago (6 A Iton—Common stock
Preferred st’ck (7 t>. c. y’rly not cumulative)
General mortgage, sterling, for £900,000
1st mortgage
Joliet & Chicago, 7 per cent, stock
St. Louis Jacksonville & Chic., 1st mortgage
do
do
1st M. endorsed by C.& A.
do
do
2d M. endorsed by C. & A..
do
do
2d mortgage (convertible).
La. & Mo., 1st M. ($439,100 assumed by C. <fcA.)
do
2d mort. (int. guar. C. &c A.)
do
guar. pref. stock
1882.
.....
New
$
2,538,680
9,538,623
Total disbursements
Balance,....
construct’n,imp’vm’ts,&c
BONDS.
[Vol. XL.
sur.35,113
1,549,106
850
850
322
220
38
150
37
37
150
101
101
1853
1868
1869
1869
1872
1865
1883
1871
1878
1878
1878
1878
2,000,000
500,000
189,500
....
1,000
1,000
1,000
(?)
500,000
2,279,000
1,000
2,000,000
14,972,720
10,105,979
2.000,000
100 &c.
100 &c.
g.
g.
gg.
1,000
1882
Var.
1881
1881
1877
1882
1,000
42,000
1,000
1,000
955.000
6,070,000
1,000
2,124,400
6
5-6
6
500,000
6-8
1,000
1,000
100
500 &c.
100
100
’76-’78
....
1873
1862
6
80O.000
6
14,034,700
2
2
1,000
1,000
2,383,000
100
1,500,000
2,365,000
1,000
1,000
1,000
1,000
1,000
1,785,000
300,000
100
329,100
1884.
$
2,154,000
1*2
6 g.
7
7
7
7
7
7
7
564,000
188,000
66,000
1,000
g.
6 g.
421,000
2,100,000
3,479,500
4,379,850
....
1864
1864
1868
1868
1870
1877
2,334,006
2,169,808
6
7
7
7
7
7
6
7
6
6
6
6
6
111,800
500,000
1,000
$
9,437,127
Rate per
Cent.
1881
1883.
def. 426,616
Amount
100 &c.
500
500 &c.
....
Bonds—Princi¬
INTEREST OR DIVIDENDS.
Miles
Date
Size, or
Par
of
of
Road. Bonds Value.
....
$2,000,000)
Land bonds redeemed,and paid
U. 8. and sinking fund
AND
great favor by giving Immediate notice of any error discovered in tbese Tables.
DESCRIPTION.
For
STOCKS
RAILROAD
24
3Lj
When
Where
pal,^When Due.
Payable, and by
Whom.
Payable
Stocks—"Last
Dividend.
M. & S. Charleston, 1st Nat. Bk. March 1, 1877
M.<fc S.
New York.
Sept. 1, 1899
do
Jan. 1, 1889
J. & J.
J. & J. N. Y., Nat. Park Bank. Jan. 1, 1895
do
do
Jail. 1, 1910
A. <k 0.
do
Jan. 1, 1890
J. & J.
do
New York Agency.
J. & J.
July 1, 1933
A. & O. Philadelphia, Penn R.R. Oct. 1, 1901
J. & J. N. Y., Company’s office. July 1, 1898
do
do
A. & O.
July 1, 1908
do
do
M. & N.
July 1, 1908
do
do
J. & J.
July 1, 1918
A. & 0.
do
do
Jan. 1, 1911
do
do
June 1, 1922
J. & D.
do
Various.
Various
do
Feb. 1, 1911
F. & A. N. Y., 52 Exch’ge Place.
F. & A.
do
do
Feb. 1, 1911
do
do
Feb. 1, 1897
F. & A.
do
do
J. & J.
Yearly to 1892
Jan. 10, 1885
J. & J.
Keene, N. H., Office.
J. & J. Boston, Boat. Nat. Bk. July 1,’96&’98
Q. -M. N. Y., John Paton & Co. Mch. 2, 1885
Mch. 2, 1885
do
do
Q— M.
J. & J. Lond’n,J.S.Morgan&Co.
July 1, 1903
J. & J. N. Y., John Paton & Co.
Jan., 1893
N. Y. U. S. Trust Co.
Jan., 1885
Q.-J.
A. & O. N. Y., John Paton &Co.
April. 1894
do
A. <fc O.
do
April 1, 1894
do
do
J. & J.
July, 1898
do
do
J. & J.
July, 1898
F. &A.
do
do
Aug., 1900
do
do
Nov.
M. & N.
1, 1900
F. & A.
do
do
Feb. 1,' 1885
preferred, $2,100,000. Gross earnings in 1882-83, $634,524; net,
$107,226. In 1883-84, gross $586,685; net $180,775; surplus over
interest, rentals and 3 per cent dividend on pref. stock was $12,109.
Chicago Sc Alton.—Line of Road—Joliet
to East St.
Louis
6.034,000
244 miles; Branches—To Coal City, 30 miles; Dwight to
def.133,000 (main),
Washington & Lac’n, 80 miles; Roodhouse to Louisiana, 38 miles;
-(V. 38,p. 479; 521, 540, 646; V. 39. p. 3,21, 47, 96, 156,157, 169,
202,308,324, 3*9,421,434,493, 565, 580, 693, 707; V. 40, p.
144, 213, 363, 364, 385, 424, 479.)
181,
119,
Total owned, 400 miles. Leased—Chicago
to Godfrey, 150 miles; Louisiana
City to Mexico, 162 miles. Total
Total operated, Dec. 31,1884, 850 miles.
Upper Alton line, 8 miles.
to Joliet, 37 miles; Bloomington
to Cedar City, 101 miles; Kansas
leased, 450 miles.
Charleston Sc Savannah.—Owns from Savannah, Ga., to Charles¬
ton Junction, 8. C., 104 miles; operates—Ashley River branches, 4 miles;
Charleston Junction to Charleston, 7 miles; total, 115 miles. This was
first the Charleston & Savannah Railroad; reorganized in 1866 under
name of Savannah Ac Charleston, and opened March, 1870.
Sold in
foreclosure June 7, 1880. and present company organized.
Stock,
$1,000,000. Earnings in 1880-1, $301,570; deficit, $ll,310. Earnings
in 1881-82, $387,956; deficiency, $73,160.
Gross in 1883, $406,316 ;
deficit, $7,526. H. B. Plant, President, New York.
c
Organization, Leases, Stocks and Bonds.—Chartered as the Chic.
& Miss., Feb. 27, 1847; reorganized under act of tTau. 21,1857, as
Chic. Alton St. & Louis, and under act of Feb. 16, 1861, the present
corporation succeeded to the proporty, which wras sold under fore closure in the following year and transferred to new organization in
October, 1862.
Chicago and St. Louis were connected by the present
line in 1864. The annual meeting is held the first Monday in April.
The Joliet & Chicago is leased from January 1,
1864, for the
term of its charter, and forms part of the main line.
Rental, 7
The St. Louis Jacksonville & Chicago was
Charlotte Columbia Sc Augusta.—(See Map Richm. <& Danv.)— per cent on stock.
Owns from Charlotte, N. C., to Augusta, Ga., 191 miles. Leases Atl. Tenn. leased in perpetuity from April 30, 1868, at a rental equal to 40 ner
fc O. RR., Charlotte to Statesville, 44 miles; Cheraw & Chester, 29 miles; cent of gross earnings until the amount reached $700,000, with a mini¬
and Chester & Lenoir, 90 miles. The Charlotte Col. & Aug. was a consoli¬ mum of $240,000 a year, and the company in 1884 was merged with
(See V. 38,
dation (July 9,1869) of the Charlotte & South Carolina and the Columbia Chicago & Alton and its stock exchanged for C. & A. stock.
<fe Augusta. The road has been under the control and management of p. 455.) The Louisiana & Missouri River RR. is leased for 1,000 years
the Richmond & Danville since 1878.
Gross earnings in 1883-84, from August 1,1870. Rental, 35 per cent of gross earnings, but inter¬
$627,854; net, $181,764; deficit after all interest and rentals, $74,684. est guaranteed on second mortgage bonds and preferred stock as
above; the other pref. stock is $1,010,000 and common $2,272,700;
m 1882-83, gross earnings, $702,841; net, $279,073. Stock, $2,578,000.
—(V.38, p. 38? ; V, 40, p. 27.)
Chartlera.—Owns from Mansfield, Pa., to Washington, Pa., 23 m.
Sold under foreclosure, and reorganized in 1871. Leased for 99 years
from January 1, 1872, to the Pittsburg Cincinnati & St. Louis; the
rental is net earnings. Gross earnings in 1882, $120,022; net income,
$36,818; in 1883, gross earnings, $150,403; net income, $52,449.
Capital stock, $647,850.
Chesapeake Sc Ohio.—Owns from Newport News, Va., to Big Sandy
River, W. Va., 503 miles; Newport News to Phoebus, 8 miles; total
owned, 511 miles; operates only 503 miles. Consolidation of Virginia
Central and Covington & Ohio, and opened through March 1, 1873.
The
Sresent
company
was organized
in July, 1878,
successor
the Ches.
under foreclosure
O., which
was sold
April as
2,1878.
Theof Elizabeth
c
Lexington & Big Sandy Railroad connects on the west with the Chesa¬
peake Ohio & Southwestern, and the Kentucky Central road is con¬
trolled in the same interest.
The stocks including scrip outstanding were as follows after Jan. 1,
1885: Common, $15,354,499; preferred stock—first, $8,353,929; second.
$9,649,671. The second mortgage currency bonds till July, 1884, took
interest in 2d pref. stock, then for two years partly in that stock and
partly cash, ana afterwards all cash, if the earnings are sufficient, but
“all interest not paid in cash to be paid in 2d pref. stock.” The mortgage
bonds of 1882 for $3,000,000 are secured on ‘road from Newport News
to old Point Comfort, Va., and terminal works ; and on a branch
to be built in West Va. from Scary Creek to the Ohio River. First pref.
stock has prior right to 7 per cent from surplus; then 2d pref. to
receive 6 per cent.
The Ches. & Ohio guarantees $700,000 bonds for a
grain elevator, but in case of paying them will take the elevator.
For two months from Jan. 1 in
1885 gross earnings were $511,004,
against $546,693 in 1884; net, $114,394, against $132,633.
Earnings and expenses were as follows in 1882, 1883 and 1884:
Years.
Gross Earnings. Op’g Expenses. Net Earn’gs.
1882
$1,032,528
$3,334,976
$2,302,448
1883....
3,906,791
2,599,933
1,306,858
1,075.884
1884
3,539,750
2,462,720
—(V. 38. p. 202, 359, 508, 582, 593, 595; V. 39, p. 181, 196, 264, 522;
V, 40, p. 61, 393, 427, 453.)
Chesapeake Ohio Sc Southwestern.—Owns from Elizabethtown
Ky., via Paducah, to Memphis, Tenn., 353 miles; leased, Cecilian branch
of L. & N., 45 miles. Total operated, 398 miles. This road forms the
western connection of the Chesapeake & Ohio and the Lexington & Big
Sandy. The company purchased the Memphis Paducah & Northern—
Paducah to Memphis— and the Paducah & Elizabethtown, subject to the
ranch ofmortgage
<fe Nashville,
the latter, from
in perpetuity
theJunction,
g300,000
Louisvilleon
and leased
Louisville
Cecilian
to Cecilian
$60,000 per annum, with option of purchasing it. Stock—Common,
$6,348,000, and preferred, $3,696,000. Gross earnings for year 1883
on 398 miles, $1,322,455 ; net, $276,728.
Payments—Rentals, $60,000;
interest on bonds, $335,280; interest on floating debt, $24,595; total
payments, $419,874; deficit, $143,146. Gross earnings in 1884 were
$1,374,645, against $1,322,455; net, $339,951, against $308,922. For
two months from Jan. 1, 1885, gross earnings were $227,704, against
$185,119 in 1884; net $54,964, against $16,455. (V. 39, p. 181, 264;
for
V. 40,
t. Louis
in is1884,
fross
eammgs
& Chic,
leased
$681,000;
to the Chicago
in 1883,
$669,868..
TheinKansas
City
& Alton
company
perpetuity
from Nov. 1,1877. at a rental of 35 per cent ohgross earnings, less taxes
and assessments. The bonds are held by U. S. Trust Co. as security for
the C. & A. bonds of 1878 issued to build this road, and a sinking fund of
$60,000 per annum provided for their redemption. Should the 35 per
cent be more than sufficient to pay bond interest and 7 per cent on
the stock, the excess is to go to the lessees. The Mississippi River Bridge
is leased in perpetuity from December 3,1877, at a rental equal to 7 per
cent on $300,000 stock and 6 per cent on $700,000 bonds.
The Chic. & Alton preferred stock has prior right to a non-cumulative
dividend not exceeding 7 per ct. from net earnings, and (after payment
of 7 on common) also shares with common in any surplus.
Prices of
stock have been as follows: Preferred in 1881, 140® 153; in 1882,
130S> 146; in 1883,140® 150; in 1884, 342®152; in 1885, to Feb. 20,
147® 151. Commonin 1881, 127®156; in 1882, 127^® 145*2: in 1883,
128®13714; in 1884, 118®140*4; in 1885 to April 18, 128®137.
Dividends were as follows prior to the current year: In 1877, both
stocks, 7*2; in 1878, both 7; in 1879, preferred 7, common 6; in 1880,
pref. 7. com. 6*a; in 1881 both 8; in 1882 both 8 : in 1883 both 8; in
1884, both 10, the periods being changed from semi-annual to quarterly
in
May, 1884.
Chicago & Alton road has been par¬
ticularly strong in having a large local business between Chicago and
St. Louis, so that it was less dependent on through business, which is
done at competitive rates. Its leased lines are as completely controlled
as if owned, and the system is compact.
Annual report for 1884 m Chronicle, V. 40, p. 268, had the following:
Operations and Finances.—The
“
Less than one-tenth of the gross
local
during the
year was
ends Dec. 31.
operations and fiscal results.
1881.
1882.
1883.
1884.
Operations—
1,495,606
1,666,991
1,907,486
Passengers carried.1,805,140
92,847,464 101,150,959 106,028,676 119,946,417
Passenger mileage
1-828 cts.
1-951 cts.
2-141 cts.
1*899 cts.
Rate $1 pass. $ mile.
3,275.004
3,522,840
3,488,496
3,598,284
Freight (tons) moved
Fr’glit (tns) mileage * 447,009,977 474,823.908 549,369,534 602,768,054
1-007 cts.
1-128 cts.
1-241 cts.
1-261 cts.
Av. rate $ ton $ mile.
..
$
$
2,278,429
6,073,675
357,170
$
$
1,973,100
5,948,123
Mail, express, &c....
1,697,542
5,546,869
313,329
294,271
2,270,379
6,197,681
342>550
earnings
perating expenses.
7,557,740
4,149,713
8,215.494
4,485,881
8,810,610
4,879,958
8,709,274
3,408,027
3,729,613
3,930,652
3,822,628
55-33
5610
Earnings—
Passenger
Freight
otal gross
54 90
P.c.of op.exp.to earn
*
Does not include company’s freight.
54-60
4,886,646
INCOME ACCOUNT.
from
South
Ashburnham, Mass.,
to
1881.
Bellows
Falls, Vt., 54 miles; leased, Monadnock Railroad, Winchendpn to
Peterboro, N H., 16 miles; and 10 miles Vermont & Mass; total 80
miles; but the Monadnock, 16 miles, is not included in the Cheshire
earnings, leaving 64 miles operated.
$51,000 rental paid to Vt. <fc
Mass, for leased portion of road. Capital stock—common, $53,300, and
derived from that traffic.”
Operations, earnings, <fec.,- have been as follows for four years past*
Fiscal year
p.61,427.)
Cheshire.—Owns
earnings of the lines during the last
derived from the transportation of farm products shipped at
stations, and only 14 312-100 per cent of the freignt earnings
year was
Net earnings
Other receipts
Total
1883.
3,408,027
3,729,613
3,714,818
4,062,160
4,215.425
306,791
«...
1882.
$
3.930,652
$
Receipts—
$
332,547
284,773
1884.
$
3,822,628
4,101,446
278,818
RAILROAD
April, 1885.]
Subscribers will confer
a
explanation of column headings, Ac., see notes
on first page of tables.
Miles
of
Date
of
Road. Bonds
Chicago dt Alton—(Continued)—
162
Bonds for K.C.St.L.A C. (1st mort. as collateral).
Preferred stock, K. C. St. L. A C., guar. C. A A....
Common stock
do
Mississippi Riv. Bridge st’k (7 p. c. guar, by C. A A.)
C. A A. bonds on Miss. Riv. Bridge, 1st mort., gold
249
Chicago dt Atlantic—let mort., gold, $ or &
249
2d mortgage (for $5,000,000)
3,322
Chicago Burlington dt Quincy—8 tock
825
Consolidated mortgage coupon, (for $30,000,000)
740
Trust mort.on Iowa lines,coup.or reg.(s.f. l*a p.c.)
Bonds Denver exten. 4s, (sink, fund 2 per oent)...
Southwest Div. 4e, (s. f. lp.c.)
Debenture bonds for Han. A. St. Jo. stock
Northern Cross R. R. 2d. mortgage, gold
Trust mortgage (Burlington to Peoria)
Plain bonds (coupon or registered)
Bonds of 1895, (sinking fund)
Dixon Peoria A Hannibal, 1st. 1
f
Ottawa OswegoA Fox Riv., 1st 1 Coup., but may 1
Illinois Grand Trunk, 1st mort ( be registered, j
.
-
J
l
Quincy Alton A St. Louis. 1st mortgage, guar
Burl. A Mo. Riv., 1st on r’d A400.000 ac’s I’d ) Cp.
do
1st M. bn br.,C.B.AQ.stk.(5th ser.) ^ or
do
Conv. bonds, C.B.AQ.stk.(6th ser.) ) reg.
Bun. A Mo. consol.M.for $14,000,000, s.f. $30,000
do
Omaha A S. W., 1st M., guar
Burl. A Mo. bonds, s. f. for Atch. A Neb. RR. stock
Nebraska consol, mort., guar
1882.
1881.
$
1,096,995
Rentals paid
431,644
762,001
171,662
Construo’n,equip., Ac
Interest on debt.....
Taxes
Dividends
1,077,976
232,510
Miscellaneous
Jol. A Chi.b’ds red’d.
Total disbursem’ts
3,772,788
....
....
....
1877
1881
1883
1,000
1,127,534
71,221
761,122
198,621
1,083,080
97,940
306,000
....
....
100
96
33
40
70
44
40
270
46
281
40
....
191
49
....
133
„
$
1,208,277
740,759
700,544
217,074
1,194,184
86,963
*
3,645,518
1,000
1,000
100
....
1873
1879
1882
1881
1883
1860
1864
1872
1875
1869
1870
1870
1870
1876
1876
1863
1869
1870
1878
1871
1880
1877
1879
1878
1,000
1,000
1,000
1,000
1,000
....
....
1,000
500 Ac.
1,000
1,000
1,000
50
500
500
600
Ac.
Ac.
Ac.
Ac.
1884.
$
823,565
292,221
770,683
247,144
1,646,840
88,263
3,868,716
*
$1,323,200 new stock, was issued for the purpose of redeeming these
Joliet A Chic, bonds and the incomes due Jan. 1,1883, paid off.
-(V. 38, p. 215, 226, 455, 508 ; V. 39, p. 202 ; V. 40, p. 254, 266.)
Chicago Sc Atlantic.—Opened May 14,1883, from Marion, O., on
line of N. Y. Pa. & O., to Hammond, Ind., 249 miles, and thenoe over
the Chicago A West. Ind. to Chicago, 19 miles. Built as a connecting line
for N. Y. P. & O. and N. Y. L. E. AW., and both these companies guaran¬
tee the gross earnings on business over their roads to and from the
Chic. & Atlantic, as security for interest on the bonds. Stock, $10,000,000. of which $9,000,000 was deposited with H. J. Jewett, as President of
N. Y. L. E. & W., in trust to hold and vote on it. On Nov. 1,1884, the
interest due on 1st mort. bonds was defaulted. The 2d mortgage bonds
largely pledged for N. Y. Lake E. A W. loans, partly to Grant &
Ward. (V. 38, p. 229, 247; V. 39, p. 522.)
were
network of lines in Illinois, Iowa and Nebraska could only be shown in
the Supplement by a map. The main line extends from Chicago, Ill.,
to Burlington, Iowa, 204 miles, and thence to Pacific Junction, 276
miles, ana from Pacific Junction to Denver, Col., 577 miles, making the
distance from Chicago to Denver 1,057 miles. From Pacific Junction
to Council Bluffs is 18 miles (track used jointly with K. C. St. Jo. & C.
B.), making the C. B. & Q. line, Chicago to Council Bluffs, 498 miles.
was opened May, 1882.
Besides numerous local
roads the company also has its line in Illinois to East St. Louis, and to
The Extens. to Denver
7
7
5
8
8
8
8
5
5
7
8
8
6
8
4
7
6
7
on
3,468.
In addition to this the company con¬
trols and largely owns the St. Louis Keokuk & N. W. road, lSl1^ miles ;
the Kansas City St. Joseph & Council Bluffs, 313 miles; the Chicago
Burlington & Kansas City, 153 miles; the St. Joseph A Des Moines, 50
miles; and a half-interest with Wabash in the Humeston A Shenandoah
road, 113 miles. Also owns a majority of the stock of Hannibal A St.
Joseph Co., purchased in 1883.
Organization, &c.—The C. B. & Q. was a consolidation in 1856 of the
Chic. & Aurora and the Cent. Military Track railroads, and purchased
in 1860 the Northern Cross RR. and in 1862 the Peoria & Oquawka road.
The present company was a consolidation in January, 1875, of the
Chicago Burlington A Quincy in Illinois and the Burlington A Missouri
"River in Iowa.
In 1880 the Burlington & Missouri in Nebraska
was
absorbed.
The leased lines are practically owned and there
is no charge for rentals in the income account, except as interest on
bonds. The ownership in the other roads above-mentioned is in the
stocks and bonds thereof, and their accounts are kept separate (701
miles In all). In April, 1883, the C. B. A Q. purchased the common
stock of the Hannibal A St. Joseph Railroad, and part of the preferred
stock and paid with its $9,000,000 of 5 per cent bonds at par. The
fiscal year ends Dec. 31. Annual election fn April.
Stocks and Bonds.—The stock has been rapidly increased for the
acquisition of new lines, and in 1880 a distribution of 20 per cent in
stock was made.
In April, 1884, about $7,000,000 new stock
(including the stock held in the treasury,) was offered at par
to old stockholders, being about 10 per cent on holdings.
Prior to the
current year dividends were : In 1877, 9 per cent; in 1878, 10*a; in
1879, 8; in 1880, 9% cash and 20 stock; in 1881, 8; in 1882, 8; in
1883,8; in 1884, 8. The prices of stock have been: In 1881,133*29
182*s;inl882,120*a©l41; in 1883,115^^12938; in 1884.107® 127%;
in 1885, to April 18,115**©125*3
.The C. B. A Q. on many of its branch lines gave a traffic guarantee of
40 to 50 per cent, which was used in purchasing their bonds. The C. B.
A Q. 4 per cent bonds were issued against Rep. Valley and Bur. & Col.
5 per cent bonds held in trust, and an equal amount of Rep. Valley stock
scrip was also issued to subscribers to the bonds, such scrip being ex¬
changed April 1,1882, into Chicago Burlington & Quincy stock. The
Kansas City St. Joseph & Council Bluffs and branches was purchased,
254 miles, and the Chic. Burl. & Q. stock issued therefor at $125 per
share, taking the St. Jo. stock at $72 50 per share. Enough of the C. B.
& Q. consolidated mortgage is reserved to take up prior debts. The
bonds of 1876 for St. Louis Rock Island A Chicago Railroad are plain
bonds of Chic. Burlington & Quincy, offset by mortgage of like amount
on St. Louis Rock Island A Chicago road deposited with trustees.
There
are sinking funds for most of the issues of bonds.
Land Grant.—The lands were obtained by the consolidations with
Burlington & Missouri in Iowa and Burlington A Missouri in Nebraska.
In Iowa only 19,133 acres remain unsold, and the contracts outstand¬
ing Dec. 31, ’84, were for $896,562, principal and interest. In Nebraska
Stocks—Last
Dividend.
Whom.
N.Y., John Paton A Co.
do
May 1, 1903
Feb. 1, 1885
Nov. 1, 1884
In 1884
do
Chic., HI. Tr. A Sav. Bk.
....
A. A O. N. Y., John Paton A Co.
M. A N.
New York A London.
F. A A. N. Y., Erie RR. Office.
Q.—M. Boston and New York.
J. A J. N. Y., Bk. of Commerce.
A. A 0.
do
do
F. A A.
do
ao
M. A S.
do
do
M. A N.
J. A J.
Frankfort.
A. A O. N.Y., N. Bk. of Com’rce.
J. A J.
Boston, Co.’s office,
J. A D.
do
do
J. A J. N.Y., N. Bk. of Com’rce.
J. A J. New York and Boston.
A. A O. Boston, C. B. A Q. Office
J. A J. N.Y., N. Bk.of Coinm’rce
A. A O.
Boston, Co.’s Office.
F. A A. N. Y., Farmers’ L. A T.Co.
A A O
do
do
J. A J.
Boston, Co.’s Office.
J. A J.
do
do
J. A J.
do
do
J. A D.
do
do
J. A J. Boston, N. E. Trust Co.
A. A O.
Boston, Co.’s Office.
J A J.
do
do
M. A S.
do
do
Oct. 1,
Nov.
1912
1, 1920
Aug. 1, 1923
Mar. 16,1885
July 1, 1903
Oct. 1, 1919
Feb.
1, 1922
Sept. 1, 1921
May 1, 1913
July 1, 1890
Oct.
1, 1890
1896
1895
Jan. 1,
June 1,
July 1, 1889
July 1, 1900
Oct. 1, 1890
July 1, 1890
Oct. 1, 1901
Feb. 1, 1896
Oct. 1, 1893
July 1, 1894
July 1, 1889
July 1, 1918
June 1, 1896
Jan. 1, 1910
Oct. 1, 1896
Jan. 1, 1919
Mar.
1, 1908
hand, $606,552; unsold lands, 128,860 acres, estimated at $1 per
$515,441.
Operations
and
Finances.—The
of the most
Chicago Burlington A Quincy Rail¬
profitable in the country, as its numerous
tributary to the main line were built into choice agricultural
territory, where they enjoyed a monopoly of the local business at full
rates. Recently the company has greatly extended its lines and in¬
creased its stock and bonds, but the latter only at 4 to 5 per cent inter¬
one
branches
est, since it could borrow at the lowest rates.
The company gives
full traffic statistics in its report, and the mileage of freight and pas¬
sengers is not known; but corn is by far the most important single
article carried, and in 1880 the road brought to Chicago over 40,000,000
no
bushels, but in 1882 (after the
bushels.
For two months, from Jan
399,
corn
failure of 1881) only 15,000,000
1,1885. the gross earnings were $3,594,-
against $3,619,233 in 1884; net, $1,361,218, against $1,593,680
in 1884.
The annual report for 1884 was published in the Chronicle, V. 40, p.
362, 451.
Comparative statistics for four
Total
1883.
1884.
2,826
98
3,131
98
3,224
3,369
98
98
2,924
3,229
$
3,467
3,616,086
16,595,819
4,756,992
15,711,510
964,550
21,176,455
11,066,514
10,109,941
52f3
1,082,304
21,550,806
11,283,963
10,266,842
52-4
3,322
$
5,285,839
19,514,161
1,310,369
26,110,369
$
Mail, express, Ac
Total gross earnings.
Operating expenses.
Net earnings
P. c. of op. ex.
to earn
follows:
1882.
operated..
Earnings—
Passenger
Freight
years are as
1881.
Miles ow’d and leas’d
Miles oper’d jointly.
$
5,339,866
18,514,432
1,629,315
13,496,479
25,483,613
14,090,745
12,61 3,890
11.392.868
51*7
55-3
INCOME ACCOUNT.
8uincy, connecting
with the,
Hannibal
& Joseph.
St. JosephThe
road
(purchased
by
in 1883) across
Missouri
to St.
mileage
reported
at the close of 1884 was
pal,When Due.
Payable, and by
aore,
Chicago Burlington Sc Quincy. —Line of Road.—The C. B. A
Q. is one of the most complex railroad systems in the United States. Its
B. & Q.
Bonds—Prinei
the total quantity received under the grant was 2,365,864 acres, of
which there had been sold to Dec. 31, 1884, 2,237,004 aores, for
$11,471,564, an average prioe of $5 12 per aore.
The net sales for
the year 1884. were 53,555 acres, for $341,250, an average price of
$6 37 per aore. Cash receipts for the year 1884 were $1,186,335. In
the assets are: Contracts on hand, $3,059,420; interest on contracts
road has been
.4,147,801
4 g-
3,347,000
385,000
939,000
1.125,000
100 Ac.
Q.-F.
4
4
5
674,000
1,000
1,000
1,000
1,000
M. A N.
lJfl
3*fl
4A 5
378,000
545,500
1,076,000
890,500
720,000
2,325,000
840,000
4,170,550
72,500
157,000
11,711,800
500 Ac.
6 g.
7
6
6 g.
6 g.
2
7
547,500
1,000
1,000
Balance, sur. ordef.. def. 57,970 sur.416,642 sur. 67,624 sur.232,730
.
as
Rate per When Where
Cent.
Payable
$2,655,000"
1,750,000
271,700
300,000
684,000
6,500,000
2,500,000
77,540,500
13,986,000
11,098,000
7,968,000
4,300,000
9,000,257
491,000
653,000
100
....
1883.
$
$1,000
....
....
Amount
Value. Outstanding
....
149
Atchison A Nebraska. 1st mortgage
1878
or
Par
....
148
Republican Valley RR., sink, fund bonds
Disbursements—
BONDS.
INTEREST OR DIVIDENDS.
Size,
....
....
Quincy A Warsaw. 1st mort
5s of 1901 (sink, fund) coup
AND
great favor by giving immediate notice of any error discovered in tbese Tables.
DESCRIPTION.
For
SI OCRS
1881.
Receipts—
Net earnings
Int. and exch
Net B. & M. I’d gr’t..
Total income
Disbursements—
Rentals paid
Interest on debt
Dividends
Rate of dividends...
Carried to sink’g f’d.
Transfd to ren’al f’d.
Total disbursements
Balance, surplus
1882.
1883.
1884.
$
$
10,109,941
$
10,266,842
12,613,890
11.392.868
147,698
452,498
1,329,725
12,049,036
324,180
1,595,788
14,533,858
566,769
1,129,591
13,089,228
148,771
3,883.789
5,023,599
144,506
4,09 cL 005
139,604
4,304,284
5,506,580
1,170,437
11,428,076
$
310,668
3,430,454
4,349,286
8
8
$
5.566,484
8
8
687,246
646,430
631,443
938,064
1,000,000
750,000
1,500,000
500,000
9,777,654 10,437,602 11,950,425 11,448,532
1,650,422
1,611,464
2.583,433
1,640,696
GENERAL BALANCE AT CLOSE OF EACH FISCAL TEAR.
1881.
1882.
1883.
1884.
Assets—
Railr’d, equip’t, Ac.. 117,527,014 133,493,121 136,729,911 141,870,859
10,581,938 19,318,243 25,583,069 *26,285,236
2,641,433
2,988,015
8,340,313
7,035,349
1,584,042
Materials, fuel, Ac..
2,575,996
1,295,190
1,807,568
Cash on hand
2,846,660
1,781,127
2,221,842
3,675,432
Trust’s B. A M.l’d gr.
2,440,237
3,137,995
3,741,544
4,223,226
Trust’s C. B.AQ. s.fd
1,631,407
285,642
197,714
363,979
840,708
1,702,724
1,255,133
2,469,260
N.Eng.Tr.Co., trust’s
Miscellaneous
18,503
25,220
32,382
Stocks ownea, cost..
Current accounts...
...
Total
Liabilities—
Stock, common
138,739,054 165,831,380 180,214,307 187,769,291
$
55,263,790 69,578,340 71,869,840 76,379,140
71.400
73,657
71,356
71,006
51,927,725 62,421,050 71,384,491 71,144,608
Land grant sink. f’d.
4,726.395
3,419,844
4,023,105
5,260,999
Other sinking funds.
4,766,661
4,617,071
2,897,131
3,928,465
6,227,000
6,024,000
7,195,000
6.016,000
Contingent liabilities
Income account
1,769,837
6,652,788
9,236,223 10,876,920
Renewal fund
4,250,000
5,000,000
6,500,000
7,000,000
Miscellaneous $
15,381,174
1,352,622
1,660,608
1,178,250
Profit and loss
4,691,366
5,888,048
5.844,213
5,913,903
Stock, B. & M
Bonds (see Supp’m’t)
Total
138,739,054 165.831,380 180,214,307 187,769,291
Includes Han. A St. Jos., Kan. C. St. Jo* A C. B., Hume. A Shen., St.
J. A Des. M., Ch. B. & K. C., St. L. K. & No W, and others.
t Includes subscription under circular of Sept. 15,1881, $1,973,750;
and local aid and voluntary contributions. $1,244,311, Ac.
1 Includes unclaimed dividends, unpaid Accounts, pay-rolls. Ac., Ac.
*
—(V. 38. p. 29, 87, 202, 401, 422, 455, 468, 477, 479, 551, 659. 678; V.
39, p. 33, 47,141.157, 208,245. 264. 394,408, 505, 522, 631; V. 40, p.
60, 92, 225, 240, 321, 351, 362, 451, 437.)
Subscribers will confer a great favor
explanation of column headings, See., see notes
on first page of tables.
Date
Miles
of '
of
Road. Bonds
Chicago Burlington <£ Quincy—( Continued)—
Lincoln Sc Northwestern RR. bonds
Kansas
City St. Jo. Sc C. Bl., mortgage
Tarkio Val. and Ncdaway Val. mortgages
Chicago <£ Canada Southern— 1st mort., gold
Chic. Detroit <£• Canada Gr. Trunk Junction—1st M.
Chic, <& East. III.—Stock
1st M.,coup. (8. f. $20,000 after ’85)
*■
2d mort. income (non-cumu.) conv.
into consol...
Creek RR.—1st mortgage
Chicago & Grand Trunk—lax, mortgage, $ and £
2d mort. for $6,000,000 ($4,50o,000 are reserved)
Dan. & Grape
Northwest. Grand Trunk, 1st mort
Chicago J Great Southern—1st mort
Chicago <& Iowa—1st mort., coup., may be reg
2d mortgage
Chicago Milwaukee <& St. Taut—Com. stock
Preferred st’ek (7 p. c. y’rly, not cumulative)
1st
1st
mortgage, Hastings Sc Dakota.
M.,Chic. it Mil. line...
123
123
1877
1877
1884
1881
1880
18S0
1882
1880
1881
1870
1871
4,720
1,435
$35,000,000)
mortgage (Lacrosse Div.), coup, or reg
St.P.&C.lst M.(Riv. D.)$(fe£(c.onv.)
1880
1877
18s0
1872
1859
4,720
Consolidated mortgage (for
370
230
49
126
234
Coup., but
may be
►
72
274
62
67
59
302
238
14
12
330
330
66
76
80
80
Consol, mort., gold (for $0,000,000)
C.
E. Ill. Extension, 1st mortgage
1st
1st mort. (Iowa Sc Minn.)
1st mortgage (Minnesota Central).
1st mortgage (Iowa Sc Dakota)....
1st M.,Ia.&Dak.Ext.($15,000 p.m.)
1st mortgage (Prairie du Chien)...
2d mortgage (Prairie du Chien)...
Milwaukee Sc Western
by giving
[ Vol. XL,
registered -i
by end’rse- i
inent.
195
195
i'30
I
75
85
.
1875
1363
1867
1864
1869
1878
1868
1863
1861
1872
1872
1873
*
Immediate notice of any error discovered in these Tables.
Bond8—Princi¬
INTEREST OR DIVIDENDS.
DESCRIPTION.
For
AND BONDS
RAILROAD STOCKS
26
Size,
or
Par
Amount
Outstanding
Value.
1,000
2,541,000
100
100
100 «fcc.
100 &e.
1,095,000
3,000,000
1,000
1,000
1,00)
2,500,000
£100 it c
5,386,4^4
5,804,000
3.000,000
768,808
250,000
250,000
1,000
1,000
1,000
1,000
613,516
1,000,000
600,000
1,150,000
100
103
30,904,261
16,540,983
1,000
1,000
11,470,000
500 Sec.
1,000
1,000
1,000
1,000
1,000
1,000
1,600
1,000
Chicago Sc Canada Southern—(See Jlap of Lake Shore &
Michigan Southern).—Owns from Grosse Isle, Mich., to Fayette, O.,
67 miles. On Nov. 1, 1879, it was transferred to the Lake Shore it
Michigan Southern.
It has a capital stock amounting to $2,067,400
and a bonded debt of $2,541,000, and owes upwards of $1,680,000 over¬
due coupons. Original cost, $5,176,557. It is a part of a projected line
between Chicago and Detroit River, but failed in 1873.
Augustus
Schell, President, N. Y. City.
Chicago Detroit Sc Canada Grand Junction.—Owns from
Detroit Junction, 59 miles. Opened in 1859.
of Canada. Earnings in 1883, $313,730; net,
$29,642 ; paid interest, $65,700, and dividends, semi-annually, each 2
per cent, $43,800, deficit, $79,858.
Capital stock, $978,984. The road
Is owned by the lessees, but a separate organization is maintained in
Port Huron, Mich., to
Leased to Grand Trunk
Michigan.
Chicago Sc Eastern Illinois.—Owns from Dolton, Ill., to Danville,
Ill., 107% miles; Covington, Ind., to Coal Creek, Ind., 9 miles; Danville
to Sidell’s, 23 miles;
leased, Dolton to Chicago (C. Sc W. I.), L7
miles; Wellington Junction to Cisua Park, 13 miles; Evansville Terre
Haute A; C. RR.,Terre Haute to Danville, Ill., 55 miles; Otter Creek to
Brazil, Ind., 14 miles; Danville, Ill., to Covington, Ind., 13 miles;
total operated, 253 miles. The leases of 17 miles, Dolton to Chicago,
and 13 miles, Danville to Covington, are contracts for use of track over
other roads. The Evansville Terre Haute & Chicago was leased May 1.
1880.
The Chicago Sc East Illinois was chartered as Chicago Danville Sc
Vincennes in 1865, and opened m 1872 and 1873. Sold under foreclos¬
ure Feb. 7, 1877, and reorganized under existing style Sept. 1,1877.
In March, 1882, the U. S. Supreme Court reversed the decree of fore¬
closure of the Danville road, but granted a rehearing, on which the
decree was
reversed and the cause remanded.
In May, 1884. a
settlement was reported to have been made; also a consol, mortgage for
$6,000,000 authorized, of which $4,500,000 are to retire prior issues.
Under the terms of leases the C. & E. Ill. guar, interest on $1,515,000
Sc J.
<fc J.
Sc D.
/ g- A. A O.
6
J. & J.
M. <fe S.
3
6
J. & D.
Dec.
7
6 g- A. it O.
J. & D.
6
6
M. it N.
6 g. J. Sc 2.
5
J. Sc J.
6
J. & J.
6
M. & N.
8
J. ^ J.
8
J. Sc J.
A. & O.
1%
A. & O.
3%
7
J. & J.
J. & J.
7
7
J. & J.
7
J. & J.
7
J. & J.
J. & J.
7
F. & A.
8
F. & A.
7-3
J. it J.
7
7 g. J. it J.
J. & J.
7
7
J. Sc J.
7
7
734.000
•
1,000
5,279,000
3,198,000
123,000
541,000
3,505,000
3,674,000
1,241,000
215,000
3,804,500
89,000
2,393,000
Union
Western
Railroad
ends Dec. 31.
year
Where
When
was
Stocks—Last
Dividend.
Payable, and by
Whom.
Payable
Jan. 1, 1910
Jan. 1, 1907
June 1, 1920
Boston and New York.
do
do
Boston.
N. Y., Union Trust Co.
J.
J.
J.
7
$600,000
5,000,000
$...
lOOAc.
1.000
Rate per
Cent.
pal,When Due.
April 1, 1902
July 1, 1884
Mar. 1, 1882
London, England.
N. Y., Central Trust Co.
New York. 4tli Nat. Bk.
N. Y., Central Trust Co.
do
do
New York, 4th Nat. Bk.
Boston, Globe Nat. Bk.
New York and London.
Dec.
1, 1907
Dec., 1907
Oct. 1, 1934
1, 1931
May. 1920
Jan.' 1, 1900
Dec.
Jan., 1922
do
do
N.Y., E.P.Beach.B’way.
Jan. 1, 1910
Nov. 1, 1911
Jan. 1, 1900
New York and Boston.
do
do
New York, Office.
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
London and New York.
New York, Office.
do
do
Aug. 1. 1901
April 27, 1885
April 27, 1885
July 1, 1905
1893
July, 1897
1894
1899
July 1, 1908
1898
1898
1891
.
Jan., 1902
-
1902
1903
leased in 1879 for 999 years,.
The fiscal
The annual meeting is held early in June.
■-
Stocks and Bonds.—The preferred stock has a prior right over the
stock to a dividend of not over 7 p. c. from net earn, in each
common
but if not earned it has no cumulative right. If, however, adividend
and not paid, there might be a claim on future
3rears for such dividend.
After payment of 7 on pref. and 7 on com.,
both classes share pro rata.
Dividends paid since 1873 have been as
follows (prior to current year): In 1874, 7 on preferred paid in consol,
bonds; in 1875 no dividend; in 1876, 3% cash on preferred and 14 per
cent in bonds; in 1877, 3% on preferred; in 1878, 10% on preferred; in
1879, 2% on common and 7 on preferred; in 1880,1881,1882, 1883 and
1881, 7 on both.
The range in prices of stocks since 1877 have been: Pref. in 1878,64®
843*: in 1879. 74%® 102%: in 1880, 99® 1241s: in 1881, 1163*® 140; in
1882, 114%® 144%; in 1883, 115®122i4; in 1884, 95%® 119; in 1885
to April 18, 102® 108
Common—’n 1878, 27% ®54%; in 1879, 343s®
82%; in 1880, 66% ® 114%; in 1881, 101%® 129%; in 1882. 96% ®
128%; in 1883, 91%3103%; in l 384, 5S%®94%; in 1885 to April 18,
year,
was
earned in any year
68%®76%.
Of the consolidated mortgage bonds of 1875, enough are reserved to
take up the prior bonds. The latter had a sinking fund of 1 per
per annum, but holders may have their bonds stamped
from the operation of the sinking fund. The Chicago Sc Pacific Western
Division bonds are issued at $20,000 per mile on new lines built or ac¬
cent
and discharged
preferred
The Iowa Sc Minn. Div. bonds are convertible into
quired.
stock. The terminal bonds issued in 1884 are secured by mortgage on
the rerminal p/operty in Chicago and Milwaukee, subject to the lieu of
the general mortgage so far as that covers these terminals. The lands
acquired
by
the
company
1883 the land grant
notes held.
nave
closed out, and in
the land
been mainly
and income bonds were issued against
Operations, Finances, Sec—The mileage and
of this company increased very rapidly in four
also the stock and debt
the miles owned
1, 1884, and
January
A summary of operations for last six months of 1884 was in V. 40,
the stock and bonded debt, in round figures, $69,000,000 on January 1,
181, showing net earnings of $406,551 and interest charges of 1880, agaiust $147,700,000 January l, 1885. The main question as to
the company’s income depends on the success of so large an amount of
257,253, and construction and equipment charges of $ LOO,822.
For the seven months from July 1, l'8H4, gross earnings were $98 4,776, new mileage, on which the traffic is to be gradually built up.
On March 26, 1885, the directors decided to pay 1% per cent semi¬
against $997,373 in 1883-4; net, $454,7371 against $50,',238.
bonds of leased roads.
years,
being 2,3 >9 on January 1, 1880, against 4.760 on
.
Report for year ending June 30, 1884, in V. 39, p ‘434, showed gross
earnings, $1,560,320; net, $713,130; fixed charges, $523,989; surplus.
$189,140; floating debt June 30, 1884, about $900,000. (V. 38, p. 358,
571, 619; V. 39, p. 47,127, 157, 434, 461, 606, 732 ; V. 40, p. 150, 181,
338, 393, 480.)
Chicago Sc Grand Trunk.—Line of road from
Port Huron, Mich.,
to Chicago, 330% miles; also uses 4% miles of Chicago Sc West. Indiana
and 4 miles Grand Trunk Junction RR.; total operated. 339 miles. This
is a consolidation of roads between Port Huron and Chicago formed in
April, 1880, under the control of the Gr. Trunk of Canada. It includes
the former Port Huron & Lake Michigan and the Peninsula roads, sold in
foreclosure. Stock, $6,600,000 in $100 shares. The Grand Trunk of
Canada gives a traffic guarantee of 30 per cent of gross earnings on
business to and from the Chicago Sc Grand Trunk Road. Gross earnings
for 1884, $3,178,180; net, $762,677; surplus over interest and rentals,
$1,954; in 1883, gross, $2,977,000; net, $717,000. (V. 38, p. 331, 619;
V. 40, p. 337.)
Chicago Sc Great Southern.—From Fair Oaks, Ind., to Yeddo,
Ind., 76 miles; consolidation 1883 of the Chic. Sc Gt. Southern and the
Chic. & Block Coal railroads. Stock issued $1,000,000; bonds author¬
ized, $2,000,000; issued, $1,000,000. In November, 1884, D. Shumway,
of Chicago, was appointed receiver.
Chicago Sc Iowa.- Owns from Aurora, Ill., to Foreston, Ill., 80
miles; leased, Flagg Centre to R")3kford, 24 miles; total onerated, 104
In hands of a Receiver.
miles. Chartered in 1869 and opened in 1872.
Gross earnings for year ending Dec. 31, 1882, were $525,071; net, $88,-
Capital stock, $1,428,000, This road is used by the Chicago Bur¬
lington Sc Quincy to connect with the Illinois Central, and in Feb., 1882,
it was reported to have passed into control of parties interested in
Chicago Burlington & Quincy.
309.
Chicago Milwaukee Sc St. Paul.—(See Map.)—Line of Road.—
operates a great consolidated system of railroads in Illinois,
Wisconsin, Minnesota, Iowa and Dakota, which are well shown in the
on the common stock instead of 3%, and stated that
floating debt of $3,500,000 to be paid off.
The annual report for 1884 was in V. 40, p. 335, showing a decrease of
$188,825 in gross earuiugs compared with 1843; a decrease of $352,816
in net income; an increase of $544,633 in the annual interest on bonds;
resulting in a decrease of $L,005,771 in the surplus over all charges and
dividends, this surplus for 1884 being $453,90L, against $1,459,672 in
13S3. The statistics iu detail were given in the Chronicle, as follows :
annual
Miles owned
site Prairie du Chien) to Chamberlain, Dak., on the Missouri River, 442
miles; Chicago, via Savanna, on the Mississippi River, to Council Bluffs,
la., 487 miles; Minneapolis to Aberdeen, Dak., 288 miles. On Dec. 31,
1884, the mileage in Illinois was 313; in Wisconsin, 1,230: in Iowa, 1,409;
in Minnesota, 1,058; in Dakifia, 794. Total miles operated, 4,804.
Organization, &c.—The Muw. Sc St. Paul RR. Co. was organized May
5, 1863, and embraced a number of other companies, including the Mil¬
waukee & Miss., the Prairie du Chien, the Lacrosse Sc Milwaukee, and
others. The Milwaukee Sc St. Paul afterward purchased the St. Paul Sc
Chicago Road and others, and built the line from Milwaukee to Chicago,
and on February 11,1874, the company took its present name. The
1881.
1882.
1883.
1884.
4,217
4,520
4,760
4,804
OPERATIONS AND FISCAL RESULT8.
18S2.
1883.
1884.
Operations—
1881.
2,985,385
3,956,814
4,904,678
Passengers carried ..
4,591,232
Passenger mileage.. 137,940,086 200,790.926 235,579,660 225,851,443
Rate tier pass. p. mile.
2 86 cts.
2*58 cts.
2'52 cts.
2 55 cts.
Freight (tons) moved. 4,276.088
5,127,767 5,661.667
6.023,016
Freight (tons) mil’ge.697,347,607 945,250,159 1176605032 1247737233
Av. rate p. ton p. mile.
1*70 cts.
148 cts.
1'39 cts.
1'29 cts.
$
$
$
$
Earnings—
5,766,843
5,927.668
5,179,078
3,933,989
Passenger
11,884,795 14,002.335 16,365,354 16,128,964
Freight
1,575,191
1,366,802
1,205,313
1,201,677
Mail, express, &c
Total gross
earn’gs... 17,025,461
Operating expensesMaint’nceof way*....
Maint’nce of equip’t.
2,359,794
Transp’rt’t’n exp’n’st.
6,051,930
Taxes
Miscellaneous
The company
accompanying map. The main through lines are from Chicago to Mil¬
waukee, 85 miles; Milwaukee to St. Paul and Minneapolis, via LaCrosse,
341 miles; Milwaukee to Prairie du Cbleu, 194 miles; McGregor (oppo¬
dividend
there was a
1.367,674
473,166
65,367
20,386,726
23,659,824
23,470,998
$
$
$
2,479,429
1,999,504
7,023,918
589,613
2,548,609
2,489.257
8,011,533
614,609
2,339,635
2,574,437
8,102,668
114,029
140,329
93,609
-
702,060
operating exp. 10,317,931 12,186,073 13,778,037 13,859,629
9,611,369
9,881,787
8,200,653
6,707,530
earnings
59-05
58 23
5977
60*60
et.op.ex. to earns.
Tot.
Net
Pr.
*
Includes renewal of track, t Including elevators, stock-yards, per¬
sonal injuries and damages to property, legal, insurance, rent
cars,
Sec.
of
INCOME ACCOUNT.
Net earnings
Other receipts
Total income
1884.
1882.
$
1883.
$
6,707,530
635,303
8,200,653
623,814
9,881,787
164,707
82,307
7,342,838
8,824,467
10,046,494
9,693,676
1881.
Receipts—
$
$
9,611,369
Date
Size, or
of
of
par
Road. Bonds. Value.
j Miles
explanation of column headings, &c., see notes
on first page of tables.
Chicago Milwaukee <& St. Paul—( Continued)—-
1879
1879
1880
1880
185
212
119
419
Bonds on Lac’se &Dav. Div., for Dav. & Nw. RR.
1st mort. on 8. W. Div. Western Union RR
1st mort. on Chic. & Pac. Div., Chic, to Miss. Riv..
1st mort. on So. Minnesota Div. ($9,000,000)
Land grant income bonds
Land grant and income bonds
1st mort. on Hastings & Dakota Div. extended ..
1st M. on Ch. a. D. & M
1st mort. on Wisconsin Valley RR
Prior mort.
do
1st mortgage, Mineral Point Division
1st mortgage Chic. & Lake Superior Div.,
1st M.Wis. & Minn. Div. ($20,000 p. m.)
3,763
cumulative)
193
Bonds, pref. (sink’g fund), 1st mort., Chic, to Osh.
193
1st mort., general, 3d mort., Chic, to Oshkosh—
779
Consol, sinking fund M. ($12,900,000)
126
Madison extension, 1st mort., sinking fund, gold.
85
Chicago & Milwaukee, 1st mortgage
Preferred st’ck (7 p. c. y’rly, not
25
Menominee River, 1st mort., guar
120
Menominee extension, 1st mortgage, gold
Gen. cons mort.. gold, coup, orreg. ($48,000,000) 1,058
137
Winona & St. Peter, 1st mort., guar by Chic.&NW.
137
do
2d mort., guar, by Chic. & N.W.
175
do
1st M. extern, gld, land gr., s. f..
75
Iowa Midland, 1st mort., guar, by Chic. & N. W..
62
Northwestern Union, 1st mortgage, gold
1881.
Disbursements—
Interest on debt
Divs. on both stocks*
Rate of dividend
$
4,127,389
1,965.722
1882.
$
4,786,054
2,461,042
7
7
■500
1,000
1,000
1,000
1,000
Too
100
100 &c.
100 &e.
1,000
500 &c.
1876
1871
1872
500 &C.
500 &c.
1870-1
1870-1
1871
1870
1872
1883
$
5,373,925
3,212,895
7
8,586,820
1,000
1,000
100 &c.
1,000
500 &e.
1884.
$
5,918,608
3,321,167
7
6,093,111
*
$1,218,201; in 1883, $1,552,311, and in 1884, $1,660,584.
GENERAL BALANCE AT CLOSE OF EACH
1881.
Assets—
$
1882.
FISCAL YEAR.
1883.
$
$
1884.
$
Railroad, equipm’t,<fecl20,073,630 138,015.099 146,093,665 149,426,734
Bt’ks&b’ds own., cost
1,265,364
768,846
1,161,980
1,228,283
2,361,234
1,146,059
Bills& acc’ts rec’vable
663,641
1,550,232
Materials, fuel, &c. ..
1,028,764
1,223,043
1,495,113
1,483,365
Cash on hand........
555,200
2,969,732
3,048,965
2,971,133
Ill. <fe Iowa coal lands
503,119
689,578
944,132
680,475
Cash due on st’k subs
1,129,215
Miscellaneous items..
417,660
255,061
Total assets
125,636.593 146,554,663 154,022,017 156,936,049
Liabilities—
$
$
$
$
20,404,261 27,904,261 30,904,261 30,904,261
Stock, common
14,401,483 16,447,483 16,540,983 16,540,983
Stock, preferred
Bonds (See Supplm’t) 79,059,000 89,635,500 96,272,000 100,254,000
All other dues A acc’ts
4,943,872
2,093,163
3,899,002
1,711,099
1,732,687
Unpaid pay-rolls, &c.
2,279,836
2,216,630
1,610,661
Land department
1,787,509
1,781,907
Income account
5,593,011 *3,619,408
5,079,080
5,532,981
Total liabilities... 125,636,593 146,554,663 154,022,017 156,936,049
*
$3,550,974 of income balance applied towards payment for 71,019
shares common stock issued to shareholders at 50 cents on the dollar.
—(V. 38, p. 29, 60, 114, 129, 147, 347, 356, 678. 705, 764: V. 39, p. 21,
47, 84, 324, 363, 381; V. 40, p. 195, 213, 322, 334, 393, 480.)
Chicago &. Northwestern.—(See Map.)—Line of Road—The Chic.
& Northw. operates 3,763 miles of its own roads and controls 1,150 miles
of the Chicago St. Paul Minn. & Omaha; total controlled, 4,913 miles.
The mileage is extensive, and is shown clearly in the accompanying
map. The main line from Chicago to East Omaha, Iowa, is 492 miles,
the whole system,
south of that line, with the excep¬
At the end of the fiscal year, May
31, 1884, the Chic. & Northwestern mileage was made up in the annual
report as follows .-Wisconsin Division, 555 miles; Galena Division, 324
miles; Iowa Division, 679 miles; No. Iowa Division, 370 miles; Madison
Division, 467 miles; Peninsula Division, 376 miles; Winona & St. Peter
Division, 448 miles; Dakota Division, 542 miles; total, 3,763 miles. In
July, 1884, the Blair roads, previously leased,were acquired by purchase,
but this increased the mileage operated only by 418 miles of the 906.
Organization, &c.—The Chicago St Paul <fc Fond-du-Lac Railroad,
ana
this forms practically the southern boundary of
the company having nothing to the
tion of a few insignificant branches.
which was a consolidation of several roads, was sold in foreclosure
June 2,1859, and the Chicago & Northwestern Railway was organized
as its successor.
In 1864 the company absorbed the Dixon Rock. &
Kenosha, the Gal. & Chic. Union and the Peninsular RR. of Michigan,
and has since absorbed by consolidation a large number of other roads,
including those which were operated as “proprietary- roads,” and this
process will go on till all those roads are absorbed into the main company.
In December, 1882, a controlling interest was acquired in the stock of
the Chic. St. Paul Minneapolis & Omaha Co. by the purchase of 53,800
shares of preferred and 93,200 shares of com. stock.
In July, 1884, the leased lines in Iowa (Blair roads) were acquired,
and the result is stated in the annual report as follows:
“
The total cost of the properties is $27,875,100, subject to such slight
changes as may come from adjustments
remnants of rights of way, &c., and will be
of small items of account,
represented by the
Amount of bonds and obligations assumed
$11,149,600
Amount of Chicago & Northwestern Railway Co. 5 per cent
25 years debenture bonds, at par
1,968,000
Amount of Chicago & Northwestern Railway Co. common
stock
14,757,500
for the whole 906-39 miles of railroad and the bridge property; the
average cost will be at the rate of $14,472 per mile in bonds and obli¬
gations and $16,281 per mile in common stock; total, $30,753 per mile.”
The fiscal year ends May 31. The annual meeting is held early in June.
Stock and Bonds.—Of the common stock, $10,006,300 was held in
the company’s treasury- on May- 31. 1884. and is presumably
still, and the whole common stock listed at the Stock Exchange
held ihere
is $41,257,700. Preferred stock has prior right to 7 per cent; then
common entitled to 7; then preferred
has a further prior right to
3 per cent; then common to 3; then both classes share. But the pre¬
ferred stock has not yet received more than 8 per cent in any yrear,
against 7 per cent paid on the common. Dividends since 1875 (prior to
the current year) have been: In 1876, 2^ on pref.; in 1877,3^ on pref.;
in 1878, 7 on pref. and 5 on com.; in 1879, 7 on pref. and 5 on com.;
in 1880, 7 on pref. and 6 on com.; in 1881, 7 on pref. and 6 on com.; in
1882, 73i on pref. and 7 on com.; in *83 and ’84,7 on com. and 8 on pref
Prices of stock since 1877 have been as follows: Common in 1878'
82^55*4; in 1879, 49882'941fl; in 1880, 87*8® 130; in 1881, 117®IS'’.*9
6
7
7
7
6
6
7
5
5
1.106.500
2,840,000
1.360,000
4,755,000
18,540,000
3,000,000
35,000
31,365,900
22,325,454
971,000
3,440,000
7,864,000
2.977.500
£8
5S
8
3*2
2
7
7
7
7 g.
7
7
7
7
7
7
7
8
7
1.700,000
560,000
1,000
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
I.
2.549.500
12,343,000
2,069,000
1,592,000
4,080,500
1,350,000
3,365,000
J.
J.
J.
J.
D.
■
1919
July 1, 1909
Jan. 1, 1910
Jan. 1, 1910
1890
Jan.
Jan.
1,
1,
July 1,
July 1,
Jan. 1,
F. <fc A.
F. & A.
Q.-F.
O.
J.
J.
D.
D.
J.
N.
D.
O.
S.
1890
1910
1920
1920
1909
1910
July 1, 1921
July 1, 1921
Jan. 1, 1921
July 1, 1914
1891
.
Q.-M.
&
&
&
&
&
&
&
&
&
&
Stocks—Last
Dividend.
Payable and by
New York, Office.
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
Boston.
New York, Office.
do
do
do
do
do
do
do
do
do
do
New York, Co .’s Office
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
&
A.
J.
J.
J.
J.
J.
M.
J.
A.
M.
Bonds—Princi¬
pal,^When Due.
Whom.
&
&
&
&
&
&
&
&
<fc
&
&
&
&
&
&
&
these Tables.
DIVIDENDS.
Where
When
6
1,700.000
1,000
7,247,096
9,239,775
1.249,727
1,577,371
453,901
1,459,674.
A portion of these dividends was stated as payable out of the earn¬
ings of the previous year, as follows: In 1881, $973,306; in 1882.
Tot. disbursements.
Balance for year
OR
Pay’ble
5
6
$2,500,000
4,000,000
3,000,000
7,432,000
238,000
1,600,000
5,680,000
6,710,000
1,000
1,000
1,000
1859
1859
1865
1871
Rate per
Cent. *
Outstanding
1,000
3,763
Chicago dt Northwestern— Common stock
Amount
1,000
1,000
1883
1880
1880
1880
1879
1880
1881
1881
1881
1884
1871
336
372
107
107
142
68
230
927
Div., $20,000 p. m.
$5,000,000)
Terminal mort., gold, coup. orreg.(for
Osh. & Miss. River RR. bonds
[Vol. XL.
INTEREST
I
DESCRIPTION.
IstM., gold. On Chic. & Pac., W.
BONDS.
by giving immediate notice of any error discovered In
Subscribers will confer a great favor
For
AND
STOCKS
RAILROAD
98
26, 1884
May 1, 1885
Aug. 1, 1885
Aug. 1, 1885
Dec.
Feb.
1, 1915
April 1,
July 1,
July 1,
June 1,
Deo. 1,
Jan. 1,
1911
1898
1906
1911
1902
1887
Nov. 1, 1907
Dec. 1, 1916
Oct. 1. 1900
June 1, 1917
in 1832, 124® 1503*; in 1883.115^14018; inl884, 81*2® 124; in 1885»
to April 18, 843s»98%.
Pref. in 1878, 593*^79^; in 1879,76?8®108 J
in 1880, 104® 146*2; in 1881, 131*8®147*2: in 1882, 136®175; in
1883,134® 157; in 1884, 117® 149*2; in 1885 to April 18, 1193p®134.
The sinking fund bonds of 1879 are secured by a deposit of mort.
bonds, on the new roads acquired at the rate of $15,000 per mile, and the
terms under which these are issued were published In V. 29, p. 277.
Of these bonds so far issued, $6,305,000 are 6s and the balance
58.
There are several small issues of bonds (all less than $200,000
each) in addition to those in the table above, viz.: Appleton exten¬
sion, $116,000, 7s. due 1885; Green Bay extension, $179,000, 7s. due
1885; Beloit & Madison RR., $176,000. 7s, due 1888; Minnesota Valley
RR., $150,000, 7s, due 1908: Plainview, $100,000, 7s, due 1908;
Peninsula Railroad (Mich.), $152,000 7s, due 1898.
The $ 10,000,000 debenture bonds were issued to pay for the Chicago
St. Paul Minneapolis & Omaha stock; the sinking fund for these bonds
is $200,000 per year from May, 1388, If they can be redeemed at 105.
New common stock for $14,757,500 to purchase control of the Iowa
leased roads was issued July, 1884, as per circular in V. 38, p 508.
In June, 1884. the new issue of $6,0u0,000 5 per cent debenture bonds
was authorized, of which $1,966,500 went for the purchase of Blair
roads and the balance to be used for improvements as required.
Any
the property of the company- owned at date of these
bonds, shall include them.
Land Grant.—The lands of the company have been acquired by the
future mortgage on
purchase of the Winona & St. Peter and other roads that have been
consolidated. The Commissioners’ report for 1883-84 showed that the
total consideration for the lands and lots sold in that year amounted to
$734,756. Total cash receipts were $706,784. The statement of amounts
secured to be paid to the company by outstanding contracts of sale in
force at the end of the fiscal year
showed
a
total of $1,111,919.
table of land grant lands for year ending may
Acres under
461,847
2,185
308,723
485,677
390,086
1,456,147
1,590.334
685.577
349,308
38,593
Michigan
Wisconsin
Total
...
un¬
31,1884.
May, 1884
.
31, 1884.
Lands
sold May
31, 1883.
contract.
Name of grant.
Minnesota
Lands unsold May
784,532
320,125
Operations, Finances, &c.—The Chicago & Northwestern Railway
has pursued the policy of extending rapidly its lines, including those
reaching far west to Dakota, and since 1879 has raised its money in
great part by the sale of 5 per cent bonds. The stock lias not been
rapidly increased (until recently by the issue of new stock for stocks of
proprietaiy roads) and a large nominal surplus has been rolled up in
the balance sheet; (see article in the Chronicle, V. 39 p. 142.)
In the Chronicle of Feb 21,1885, on page 226, an article was pub¬
lished analyzing with much detail the company’s gross and net earnings
for seven months from June 1 to Dec. 31,1884.
The latest annual report (1883-84) was in the Chronicle, V. 39, p.
155, and comments were made upon it on pages 142 and 170.
The following were the earnings, expenses, &c., for all lines operated:
ROAD AND
EQUIPMENT.
1883-84.
1880-81..
1881-82.
1882-83.
Tot, miles oper’d.
Locomotives
2,778
3,278
3,584
476
558
578
639
Pas.,mail&ex.c’rs
Freight cars
327
365
424
449
16,072
17,932
18,089
20,100
All other cars....
274
353
394
3,703
435
OPERATIONS and fiscal results.
Operations—
1881-82.
1880-81.
l»82-83.
1883-84
Pass’gers carried. 4,482,317
6,754,717
8,623,483
7,968,560
Pass’ger mileage. 164,333,508 205,574,178 248,856,303 256,386,389
Rate p. pass. p.m.
2*52 cts.
2*40 cts.
2*53 cts.
2*46 cts
Fr’ght(tns) mov’d 6,662,112
7,874,665
8,190,893
8,453,994
Fr’ght(tns) mil’ge980,522,774 1192,188,039 1183,829,358 1350,173,773
Av.ratep.tonp.m
1*47 cts.
147 cts.
1*42 cts.
1*31 cts.
Earnings—
$
$
$
$
5,171,423
6,119,616
Passenger
4,158,130
6,153,071
Freight
17,525,134
17,677,86614,414,151
16,894,352
Mail, express, &c.
988,099
1,067,867
1,189,687
761,791
Tot.gross earns. 19,334,072
Expenses—
Maint’nce of way)
“
cars,
Tr ansp’n
(
<fcc. > 9,979,619 <
.
& miscel)
Taxes
Total
Net earnings
P.c. op.ex.to earn.
446,202
(
23,684,656
24,081,835
25,020,624
3,574,419
1,786,140
6,756,517
3,372,994
2,322,099
7,758,638
3,590,917
2,448,297
8,429,121
15,140,956
522,558
618,785
10,425,821
12,639,634
14,072,516
8,908,251
53-92
11,045,022
5337
10,009,319
58-44
INCOME ACCOUNT.
1880-81.
1881-82.
Receipts—
Net earnings
$
8,908,251
$
11,045,022
Disbursements—
Rentals paid
Interest on debt.
1,384,732
$
3,647,897
$
1,569,618
3,999,208
1882-83.
672,621
9.879,668
60-51
1883-84.
$
10,009,319
$
9,879,668
1,570,948
4,288.633
1.568,704
4,527,235-
$
$
BRASAOTINLCODKSD
1A8pr5il,.]
Subscribers will confer a great
favor by giving immediate
[VoL. XL.
notice of any error discovered in tbese
Tables.
Bonds—Princi¬
INTEREST OR DIVIDENDS.
DESCRIPTION.
For
AND BONDS.
STOCKS
RAILROAD
30
explanation of column headings, Ac., see note
on first page of tables.
8-
Date
Miles
Size, or
Par
of
of
Road. Bonds Value.
Amount
Outstanding
Rate per
Cent.
When
pal,When Due.
Payable and by
Whom.
Where
,
Payable
Stocks— Last
Dividend.
-
Chicago <£ Northwestern—(Continued)—
Rochester & No. Minnesota, 1st mortgage.
Chic. Mil. A N. W., construction bonds
24
....
Sm
Chicago & Tomah, 1st mort., guar
Milwaukee A Madison. 1st mort., guar
Sink. fd.bds.GstM. as collateral) ($15,00011 m.).
S. f. debenture bonds (for C. St. P. M. Ac 0. stock)
Debenture bonds of 1909 (for $6,000,000).
Ottumwa C.F.A St.P., 1st M., guar.($25,000 p.m.)
Des Moines A Minneapolis RR. 1st mort. Bonds..
Escanaba & Lake Superior RR., 1st mort
.
1st mort
1st M.. Southeast Div.
•
-
.
•
•
•
....
•
1880
1879
1833
1884
1884
1882
1881
....
•
692.000
....
80
.
$200,000
$....
1878
....
m
•
64
58
36
•
•
1,528,000
1,600,000
•
1,000
14.460,000
10,000,000
4,000,000
1,600,000
600.000
720,000
1,042,000
1.000
l,000Ac
1,00 1 Ac
1,000
1,000
1,000
Dukntn, Central RR..
do
(for $2,000,000)
Other small issues (see remarks on preced’g page)
..
(
•
Cedar Rapids A Missouri River, 1st mort.
3**
do
1st mort.
ft?
do
1st mort.
....
58
146
82
311
Chicago Towa Ac Nebraska, mortgage
Fremont Elkliorn Ac Mo.Val.,' onsol.bonds
Mo.V & Blair RR.Br’ge, 1st, red'ble aft.'93
'C
102
Sioux City A Pacific, 1st mortgage
102
do
2d mort. (Gov’t subsidy).
5B
do
Equipment bonds
96
Ghicaao Pekin # Southwestern—1st mortgage
Ghicaao Rock Island# Pac.—SCck (for$50,000,000) 1,384
....
•1-t
--
(g’d iu cur. by C.R.I.AP.)
($20,000 p.m.) cp. or res
Chicago St Tiouis# Pittsb.—Common stock..
Preferred stock (6 per cent cumulative)...
Dividends
Kate on pref
Rate on common.
1881-82.
$
$
Tot.dlsb’rsem’ts
m
-
.
-
-
100
1,000Ac
1877
1869
1384
100 Ac.
1,000
100
100
....
1882-83.
$
13*3-84.
2,890,337
2,939,469
$
98,120
93,120
98,120
83,000
7.551,022
1,357,229
8.253,583
8,848,038
1,161,281
9,118,408
761,260
6
2,791,439
8
7
CLOSE OF EACH FISCAL YEAR.
1882-83.
1881-82.
GENERAL BALANCE AT
^4 sscts•
Chic. & N. W. —Road A equip..
Other companies
do
Real estate in Chicago
Bonds owned
Stocks owned
Band grant iuvestments
Bills and accounts receivable.
'
8
7
54,679,521
$80,420,032
55,668,372
200,000
200,000
865,819
2,913,219
1,2*2,033
1,245,918
2,526,482
2,710,498
1,525,000
$76,739,549
2.291,340
1,760,608
1,321,000
Materials, fuel, Ac
Cash on hand
Trustees of sinking fund
1883-34.
7
7
7
7
6
6
6
6
6
7
1,009,000
1,628,000
1,628,320
479,000
1,000,000
41,960,000
12,500,000
*
'
1%
6
7
5
5,000,000
3,300, <‘00
6,952,543
17,274,550
A
A
A
A
A
A
A
A
A
A
A
A
....
....
129,000
3,6 :0,000
1,000
1,000
.
2,586,037
7^4
6*2
873,000
500 Ac.
500 Ac.
1871
7
6
6
6
700,000
582,000
2,332,000
Ac.
Ac.
Ac.
Ac.
2,420,273
7
Miscellaneous
Balance, surplus..
m
5
•
2,000,000
1,090
•
•
•
•
636
271
220
582
582
1st mortgage, coup, or reg
1880-81.
500
500
500
500
r
m
Chic.A Southw.. IstM.g.
Exten. and collat. bonds
...
....
1861
1863
1866
1863
1883
1883
1868
70
.
....
....
S. New York, Co.’s Office. Sept. 1, 1908
Nov. 1. 1905
do
do
N.
1905
do
do
N.
do
do
Sept, 1, 1905
8.
Oct, 1, 1929
do
do
A.
O.
do
do
May 1, 1933
M.
N.
do
do
M.
N.
May 1, 1909
Mar. 1, 1909
do
do
S.
M.
Feb. 1, 1907
do
do
F.
A.
do
do
July 1, 1901
J.
J.
do
do
M.
S.
Sept. 1, 1907
Nov. 1, 1907
do
do
M.
N.
do
do
do
do
F. A A.
Aug. 1, 1891
do
do
Aug. 1, 1894
F. A A.
do
do
May, 1916
M. A N.
Aug. 15, 1894
do
do
F. A A.
1933
do
do
A. A 0.
Jan. 1, 1923
do
do
J. A J.
Jan. 1, 1898
do
do
J. A J.
J. A J. U.8. Treas., at maturity Jan. 1, 1898
M. A S. New York, Co. ’s Office. March 1, 1896
Aug. 1, 1901
F. A A. N. Y., Farm. L. A T. Co
Q-F. New York, Co. s Office. May 1. 1885
do
do
July 1, 1917
J. A J.
do
Nov., 1899
do
M. A N.
do
do
J. A J.
July 1, 1934
M.
M.
M.
M.
7
6
6
.6
5 A 6
5
5
«...
....
The road from Minneapolis west
line is built under the charter of
issues
pany issued by the old Territorial Legislature. The W. M. Ac P. Co.
its bonds running for 5o years, bearing 6 per cent interest, at the rate of*
$20,000 per mile. These bonds are deposited by Rock Lsland with the
United States Trust Co., and in lieu of them the Rock Island issues its
own bonds for aui equal aniouut, but bearing 5 per cent.
The difference
in interest as it accumulates is to be invested in Rock Island bonds;
these bonds may be redeemed at lo5 after July 1, 1*594.
Lands.—The sales in 1883-4 amounted to 12,851 acres,
the average
18*3-84.
2,500,135
8,690,480
766,292
$
2,853,331
9,687,097
726,215
1882-83.
1,381
$
3,333,069
7,928,236
928,598
3,313,448
8,056,316
1,165,750
11,956.907
13.266.643
12,139,903
6,630,156
7,322,862
7,109,817
12,535,514
7,298,002
5,326,751
5,943,781
5,030,086
5,237,512
55*45
55*20
5833
58*22
1892-83.
$
1883-84.
5,080,080
5,237,512
490,000
5,943,781
13,208
650,000
560,000
470,000
5,854,028
6,606,989
5,640,036
5,707,512
1880-81.
Earnings—
Stock,
f $15,095,924 i $16,229,916 $26,617,366
22,325,455 Passenger
Stock, preferred
f 22,153,119 t 22,323,190
22,550,100 Freight
22,463,400
Stocks of propriet’ry roads,Ac
22,883,150
Mail, express, r’nts,
common
Divid’ds declared, not yet due
Sinking funds paid
Real estate, mortgages, Ac....
Current bills, pav-rolls. Ac
Uncollected coupons, Ac
Rentals of roads iu la., not due
Bonds unsold
*
Consol,
1,023,406
1,027,772
1,525,000
1,730,000
Total gross earn’gs.
Total expenses
1,965,653
1,880.317
971,185
1,321,000
404,774
2,141,311
439.935
407,000
689,534
675,430
4,098
7,264,582
Miscellaneous
Balance income account
Ac
69,821,000
460,000
74,829
Rote of Consol. Coal Co
Land income
Accrued interest not due
80,891,000
366,000
64.248,000
purchased
82,668
530,364
284,000
300,000
1,033,565
675,395
66,601
8,425,863
80,651
562,543
310,000
275,000
2,938,675
675,395
9,187,120
$139,139,871 $147,210,021 $171,051,394
Total
sinking fuud bonds, $160,000;
general consol, gold bonds
$12,000; bonds or sundry proprietary roads, $186,026; Aurora Branch
t Chic. St. P. M. A O, stock, cost, $10,315,659; C. A
bonds, $150,000
N. W. com. stock, $10,006,348 ; pref, 1,334.
f Not. including amoimt in
company’s treasury.
U Including bonds in sinking funds.
—(V. 38, p. 29, 177, 191, 423, 508, 705, 763; V. 39, p. 71,128, 142, 155,
170, 264, 324, 381, 522, 606, 65 4; V. 40, p. 226, 353.)
Pekin, Ill. to
Chartered in
1859 and opened in 1876. Sold under foreclosure of second mortgage
May 31,1881, and reorganized as Chicago St. Louis A Western, to which
company the property wTas conveyed January, 1 *34. For year 1881-82,
gross earnings were $366,003; net, $120,892. In 1882-83, gross, $273,879; net, $54,883, In Feb., 1882. receiver appointed, but iu July, 1884
Chicago Pekin Sc Southwestern.—Operated from
Mazon Bridge, Ill.. 91 miles, of which 6 miles leased.
he was
discharged.
1,353
$
Miles owned A oper..
Bonds|| (See Supplement)....
(V. 38, p. 59.)
Chicago Rock Island Sc
for $123,794,
price being, therefore, nearly $.< 63 per acre. The bills
$102,710,425 receivable were (March 31, 1884) $1,129,172. The unsold lands of the
39,486,916 company comprise only about 22,605 acres.
200,000
Operations, Finances. &c.—The company has been very successful
*508,026
and well managed, and, incl.idiug scrip dividends, has paid its stock¬
t 20,323.3i3
holders handsomely.
The receipts from lands are now practically
730,000
1,192,626 gone. The management is secretive and no monthly reports of earn¬
2,205,359 ings are issued.
The annual report for year ending March 31, 1884, was in the Chroni¬
1,964,698
The mileage, earnings, Ac., for four years euding
1,730,002 cle, V. 38, p. 761.
March 31, have been as follows:
Liabilities.
Bonds
to the juuciiou with Bur. C. R. A N.
the Wisconsin Minnesota & Pac. Com¬
Pacific.—Line of Road.—Owns from
Chicago to Council Bluffs, 500 miles; Davenport. la., to Atchison, Kan.,
345; Atchison Junction to Leavenworth, Kan., 21-5; Washington, la., to
Knoxville, 77*5; South Englewood to South Chicago, 7-5; Wilton to
Muscatine, 12-5; Newton to Munroe, 17; Des Moines to Indianola and
Winterset, 47; Menlo to Guthrie Centre, 14*5; Atlantic to Audubon,
24*5; Atlantic to Griswold. 14*7; Avoea to Harlan, 11*8; Avoca to CarBon, 17*6; Mt. Zion to Keosauqua, 4*5 ; Wilton to Lime Kilns, 5. Leased:
Cameron, Mo., to Kansas City, 54; Bureau Junction to Peoria, 47 miles;
Keokuk to Des Moines, 162. Total operated, 1,384 miles.
Net earnings
P.c of op. ex.
to earn.
1881-82.
1,381
1,384
$
INCOME ACCOUNT.
1880-81.
Miscellaneous
From laud departin’t
Total income
Disbursements—
Rentals
paid
Interest on debt
Dividends
Rate per cent
1881-82.
$
.$
Receipts—
Net earnings
5,326,751
37,277
'
$
322,137
949,700
2,727,387
$
-
327,593
950;000
2,937,186
$
$
$
304,333
950,000
2,937.185
301,121
1,002,350
2,937,186
7
7
125,327
147,595
2,285,000
2,215,000
1,300,000
177,784
1,200,000
6,284,224
Total disbursements.
Balance, surplus .... lef.430.196
6,555,106
5,639,143
943
Miscellaneous
Add. and imp. acc’t..
7
7%
—(V. 38, p. 29, 202, 678,
51.883
5 618,441
752, 761 ; V. 39, p. 296, 348 ; V. 40, p.
89,071
183.
Chicago St. Louis Sc Pittsburg.—The mileage is as follows :
Columbus, O., to Indianapolis, lud., 187 miles; branches—Bradford June.,
0.,to Chicago, Ill., 231 in.; Richmond, lud., to Anoka June., Ind., 102 in.;
Peoria Junction, Ind., to Ill. State Line, 61 m.{ total operated, 582 miles.
This is the reorganization (March 20, 1383,) of the Columbus Chicago
& Indiana Central road, sold in foreclosure on Jan. 11, 1883.
Tne
C. C. & I. C. company was formed Feb. 12, 1868, by consolidation of
the Col. & Ind. Ceu. and Chic. & Gt. East, railroad companies, and was
leased to the Pitts. Ciu. A St. Louis Railway Co. Feb. 1, 1869, by which
company it has been operated.
The lease stipulated that the
lessees should maintain the road
equipment, operate it, and pay over
gross
and
to the lessors 30 per cent of the
earnings. Also, that the rental should always be equal to the inter¬
$15,000,000 first mortgage bonds of the C. C. A I. C. Railway
est on
Company, and $821,000 of the second mortgage bonds of the Col. A
Ind. Railroad Company. After default In 1875 and much litigation,
Organization—The Chicago A Rock Island RR. was chartered iu a plan of settlement with the Penn. RR was approved by a majority
Illinois Feb. 7, 1851, and opened from Chicago to the Mississippi River of bondholders in 1882 and carried out. This provided that the consoli¬
July, 1854. The extension from the Miss, to' the Mo. River was built dated mortgage of the Col. Chic. A Indiana Central Railway Company
by the former Mississippi & Missouri RR. of Iowa, wbieli was foreclosed should be foreclosed subject to the old sectional mortgages. That the
under mortgagein 1866. The Illinois and Iowa roads were consolidated property thus sold lie bought in and the purchasers form a new corpora¬
August 22,1866, under the present title, and the main line was extended tion to take the property, with a capital of $10,000,000 in common stock
to Council Bluffs June, 1869. The Iowa Southern & Missouri Northern aud $20,000,000 in preferred stock, the latter to be entitled to dividends,
if earned, at the rate of 6 per cent per annum, as declared by the board
was formerly the Chicago A Southwestern, ami was foreclosed and pur¬
chased by this company, and consolidated June, 1880. The present of directors, and to be cumulative. That the new corporation issue its
Clilc. R. I. A Pacific was a consolidation .Time 4, 1889, with $50,000,000 first mortgage bonds for $22,000,000, payable at the end of fifty years,
stock authorized, and a scrip dividend of 100 per cent to the holders of in gold coin, with interest at the rate of five per cent per annum, Ac.
Chic. R. I. A P. stock. The fiscal year ends March 31, and the annual Common stock of the old company was assessed $5 per share cash, and
There was held by
one share of new stock then given for two of old.
©lection occurs in June.
Stock and Bonds.—Prior to the current year dividends were paid the Penn. RR. Co. or in its interest on Dec. 31, 1883, $11,500,000 of the
mortgage 5 per cent bonds, $11,721,250 of preferred stuck and $1,424,as follows since 1876, viz.: in 1877 and 1878, 8 percent; in 1879, 10;
in 1880, 8*2 cash and 100 per cent iu stock; in 1881. 1882, 1883 and 250 of common stock.
The first annual report of this company, for the year 1883, was
1884,7. Range of prices or stock was as follows since 1876, viz.: in
1877, 82Lj/?;105La; in 1878, 9838*122; iu 1879, 1193)150^; in 1880, published iu the Chronicle, V. 38, p. 539, to which referenee
slio’ild be mode.
The ratio of expenses to earnings was 81*99 per
to Jaly, 1493>204; July to Dec. (new stock) 100^3)143; iu 1881. 129
<314338; in 1882, 1223>140i4: in 1883, 1161a3)l2714; in 188 4, lOO^® cent, as against 86 27 per cent in 1882 ; but this was partly due
#0 the policy adopted of charging to construction account the cost
„
126k; in 1885 to April 18, 105 *116%.
RAILROAD STOOLS AND BONDS.
April, 1865. j
Subscribers will confer
-
a
great favor by giving Immediate notice of any error discovered In these Tables.
-
DESCRIPTION.
Miles Date
Fox explanation of column headings, Ac., see notes
of
of
on first page of tables.
Road. Bonds
Chicago St. Louis <£• Pittsburg— (Continued)—
1st mortgage, gold ($22,000,000)
580
1st M. Chic. A G’t East. (Chic, to Logansport)
117
do
Col. & Ind’polis Cent. (Col. to Tnd’s, Iud.)..
208
do
Union & Logansp’t (U’n City to Logansn’t)
93
do
Cinn. & Chic. Air Line(Richm’d to Logans.)
107
2d M. Col. & Ind’polis Cent. (Cov. to Union City)..
208
Chic. St. Paul Min'polis dc Omaha—Common stock.. 1,280
18S3
Preferred stock
Consol, mortgage ($15,000 per mile)
Chic. St. Paul A Minn., 1st inert., gold, coup
North Wisconsin, 1st mortgage
St. P. & Sioux City, mort., gold, for $7,000,000
St. Paul Stillwater & Taylors’ Falls, 1st mort
Hudson A River Falls. 1st mort
Minneapolis East RR., 1st mort., guaranteed
Chicago & IFert. Indiana— 1st mortgage
General mortgage, gold, sinking fund
1,280
Chicago t£ West Michigan—Stock, new
1st mortgage, New Buff, to St. Jo
Gr. Rap. Newaygo & Lake Sh., 1st mort. coup
413
127
36
46
413
86
354
354
60
60
98
.
do
2d M.
on
35
m.
A 1st
on
12
....
....
....
General mortgage ($12,000 per mile)
Cincinnati & has tern—1st mortgage
Cincinnati Hamilton <£■ Dayton— Stock
Preferred stock for $1,000,000
2d mort. (now 1st)
Consol, mort. ($996,000 are 7s), sink, fund 1 p. c
Cin. Ham. A I. (Junction) RR., 1st mort., guar
1,000
....
Gross earnings
expenses
100
100
1.000
500 Ac.
....
....
1865
1875
1873
1,000
1,000
1,000
$981,973
Dec. $110,300
300,912
Dec. $111,212
Chicago St, Paul Minneapolig Sc Omaha.—(See map Chicago
& Northwestern.)
Mileage: Eastern Div.—Elroy to St. Paul. 196 miles;
River Falls Branch, 12 miles; Stillwater Branch, 4 miles; South Stillwater
Branch 4 miles; Eau Claire Branch, 3 miles; Neillsville Branch. 14 miles;
St. Paul to Minneapolis, 10 miles. Northern Division—North Wisconsin
Junction to Bayfield, 178 miles; Ashland Junction to Ashland, 4 miles.
St. Paul A Sioux City Division—St. Paul to Sioux City, 269 miles; Lake
Crystal to Elmore, 44 miles; Heron Lake
to Woodstock, 41 miles; Sioux
Falls June, to Salem, 98 miles; Lawrence to Doen, 28 miles. Nebraska
Division—Covington to Omaha, 126miles; Niobrara Branch, 16 miles;
Missouri River transfer, 2 miles; Norfolk Branch to Emerson, 46 miles;
Wakefield to Hartingtou, 34 miles.
Chippewa Falls & Superior Linemiles; Eau Claire to Chicago Junction, 80 miles; Superior Junction
to Superior City, 62 miles.
Total owned, 1,275 miles. Proprietary
road, 5 miles.
Total of all, 1,280 miles.
This was a consoli¬
dation July, 1880, of the Chicago St. Paul A Minneapolis (formerly West
Wisconsin), the North Wisconsin, and the St. Paul *A Sioux City. The
St. Paul A Sioux City was a consolidation in August. 1879, of the St.
Paul A Sioux City and the Sioux City A St. Paul, forming a main line
from St. Paul to Sioux City._s 270 miles.
The St. Paul Stillwater A
Taylor’s Falls
was consolidated with this company; also the Worthing¬
ton Sioux Falls A Iowa and Covington A Black Hills.
Preferred stock has a prior right to non-cumulative dividend of 7 per
cent from net earnings; but common is never to receive more than is
paid on preferred. The Chic. St. Paul A Minneapolis 1st mort. is: a 2d
on the lands; the land mort. a 2d on road; but no foreclosure cau be
had except by default on 1st
mortgage.
In November, 1882, a controlling interest in the stock was purchased
for the Chicago A Northwestern Railway by the acquisition of 93,200
shares of common at an average price of 48*40, and 53,800 shares of
preferred at
an average of lo4*04—the total cost being $10,503,959,
which stock is held as an asset of the Chic. A Northwestern Company.
Report for 1883 in Chronicle, V. 38, p 507. The land sales in 1883
were 219,005 acres for $1,498,644, including lots; land contracts and
notes on hand Dec. 31,1883, $2,206,493; lands unsold, 639,998 acres.
An article on the company’s business for 1884 was iu V. 40, p. 351.
Earnings, Ac., were as follows:
ROAD AND EQUIPMENT.
1881
1882.
1883
1,003
1,150
1,280
Earnings—
$944,329
2,913,521
164,111
$1,311,217
3,478,624
172,361
$1,470,558
$4,021,961
$4,962,202
$5,515,284
1881.
$1,245,499
504,144
78,585
1882.
$1,721,415
546,825
'
644
- 1883.
$1,891,457
547,777
Total income
Disburscm ents—
Rentals paid
Interest on debt
Dividends on preferred stock
Rate of dividend
Loss on prop, roads
$1,828,228
$2,268,884
$2,439,234
Total disbursements
Balance surplus
—(V. 38. p. 285, 332, 507,
$1,619,332
Total gross
earnings
3,843 948
200,778
INCOME ACCOUNT.
Receipts—
Net earnings
Net from land grants
Other receipts
$53,059
893,536
672,737
(7)
$27,736
1,014,530
$35,564
1,068,747
735,397
770,476
(7)
(7)
12,357
$1,777,663
$1,887,144
$552,900
$491,221
539 ; V. 39, p. 409, 624; V. 40, p. 350. 363.)
Chicago Sc Western Indiana.—Owns from Dolton and Ham
mond, Ill., to Chicago, with a belt railroad and branches, with ware¬
houses, elevator, Ac., 49 miles of road and 129 mffles of track in all,
including second track and sidings, and about 400 acres of real estate.
This company leases its road for right of way into Chicago and terminal
facilities therein to the Wabash, the Gr. Trunk of Canada, the Chicago A
East. Illinois, the Chic. A Atl. and Louisv. New Albany A Cliic. roads ;
tlie annual rental® amouut^to $666,450, exceeding the interest charge by
$132,650. In 1882 a consolidation with the 8. Chic. A West. Imt RR.
$208,896
and the Western Ind. Belt road was made w’ith stock of $5,000,000 and
bonds limited to $10,500,000; the bonds are liable to be redeemed
2,736,000
500,000
3,500,000
449,000
450,000
2,430,000
1,800,000
100
....
$874,673
1,100,826
Freight
Mail, express, Ac
30.500
....
g.
g.
g.
8
8
7
5
7
3
576,000
1,000
....
g.
1^
480,000
500 Ac.
27,017
Passenger
6,396.616
6,796,800
....
30,045
Miles owned and operated
2,500,000
1,000
1,000
Dec. $163,328
Inc.
53,028
Balance
Def. $2:6,153
Sur. $185,059
—(V. 38, p. 177, 358, 539 ; V. 40, p. 363.)
75,000
^
1,000
1,000
....
1869
1871
1875
1881
Inc.
6
6
6
7
8
7
6
6
125,000
.
$957,956
799,914
3,000,000
800,000
6,080,000
....
$794,628
Interest, etc
6
334,800
Dec. $397,030
Dec. 733,752
Total income
1^3
11,222,000
....
$5,293,920
4,335,964
Other income
22,087,700
13,283,500
1,000
1,000
$4,396,840
3,602,212
earnings
780,000
....
of improvements and additions made since your company assumed coir
trol or the property and which, under the administration of the receivers
of the C. C. A I. C. Railway, had been charged to expenses.”
The full interest charge per year is about $1,000,000.
For 18S4 and 1883 the earnings and income in brief were as follows:
1884.
Is83.
Changes.
Operaticg
2,631,000
715,000
108,500
....
.
5 g.
7
7
7
7
7
224,000
....
18S0
1878
1880
1879
1878
1878
1879
1879
1882
Rate per
Cent.
Outstanding
$1,000 $13,385,000
1864
....
Amount
Value.
....
177
120
605
23
11m., coup
or
par
1864
1865
Bonds—Prinel
INTEREST OR DIVIDENDS.
Size,
....
.
Net
31
1*2
7
5 6 A 7
7
When
pal,When Due.
Where
Payable and bv
Pay’ble
Whom.
A. A O.
N. Y., Union Trust Co.
do
do
do
do
do
do
do
do
do
do
Various
J. A J.
A. A 0.
F. !A A.
M. A N.
New York, Office
D.
do
do
N.
do
do
do
J.
do
0.
do
do
do
J.
do
J.
do
do
do
J.
do
N. N. Y„ Drexel, M. & Co.
do
do
Q. - M.
F. A A.
Boston.
M. A 8. Bost.. Treasurer’s office.
N. Y. Union Trust Co.
J. A J.
do
J. A D.
do
J. A D.
J. A J. Sardinia, 0. Receiver.
A. A O.
Cincinnati, 0.
do
do
Q.-J.
J. A J. N. Y., Winslow, L. A Co.
A. A O.
do
do
Q.-J.
J.
M.
J.
A.
J.
J.
J.
M.
A
A
A
A
A
A
A
A
J.
A J.
do
Stocks—Last
Dividend.
April 1, 1932
1893 A’95
Nov., 1904
Dec., 1905
Aug. 1, 1890
Nov., 1904
April 20,
June 1.
May 1,
Jan. 1,
April 1,
Jan. 1,
July 1,
Jan. 1,
i885
1930
1918
1930
1919
1908
1908
1909
Nov. 1. 1919
Dec. 1, 1932
Feb. 16, 1885-
Sept. 1889
July 1, 1891
June 1, 1905
Deo. 1, 1921
July 1, 1896
Nov. 1,
1884
Jan., 1885 I
Jan. 20, 1885
do
Oct., 1905
Jan., 1903
after 1885 at 105
rentals to be paid
by a sinking fund, which is provided for by increased
for that purpose. (V. 40, p. 181.)
Chicago dc West Michigan.—Owns from Lacrosse, Mich., to
Pentwater, Mich., 209 miles; branches—Holland Junction to Allegan,
23 miles; Holland to White Cloud, 70 miles; Fruitport to
Muskegon,
10 miles; Kirk’s Junction to Pickand’s Junction, 3 miles;
Muskegon
to Port Sherman, 6 miles; Woodville to
Muskegon River, 17 miles;
Mears to Hart, 3 miles; B. R. Junction to Big Rapids, 51 miles; White
River Junction to Baldwin, 20 miles; total onerated, 413 miles.
Organ¬
ized as successors of Chicago & Michigan Lake Shore Jan. 1, 1879, and
consolidated in Sept., 1881, with the Grand Haven road, 57 miles,
Muskegon to Allegan, and the Grand Rapids Newaygo A Lake Shore, 46
miles, from Grand Rapids to White Cloud.
The annual report was iu V. 40, p. 452, and the comparative statistics
for four years wrere as follows:
1881.
Total miles operated
367
Earnings— \
$
,
Passenger
\
Net
P.
c.
1883.
410
$
413
$
1884.
413
$
451,927
401,428
458,949
877,936
45,688
995,674
48,810
466,053
1,026,938
57,107
1,325,052
1,054,980
1,503,433
1,017,788
1,550,098
1,469,667
1,185,224
1,000,696
270,072
79*61
455,645
69*66
364,874
76*46
468,977
68*09
1
Freight
Mail, express, Ac
Total gross earnings
Operating expenses
1882.
earnings
of oper. exp. to earn’gs
950,801
66,939
INCOME ACCOUNT.
Receipts—
Net earnings
Other receipts
Total income
Disbursements—
Interest on debt
Dividends
1881.
1882.
1883.
1884.
$
270,072
2,325
$
455,645
7,068
$ ,
364,874
$
468,977
2,217
'272,397
462,713
$
372,433
$
217,024
184,506
471.194
345,003
401,530
117,710 def. 29,097
437,342
33,852
$
117,756
Total disbursements
117,756
Balance, surplus
154,641
(V. 38, p. 477 ; V. 40, p. 452.)
191,423
153,580
7,559
$
222,085
215,257
-
Cincinnati Sc Eastern.—Cincinnati to Ottawa, O., 87 miles, and
branch to Richmond, 12 miles. Leases Columbus A Maysville road, 20
miles. New arrangement made by a syndicate in 1883, but road weut
into receiver’s hands, and in Oct., 1883, the receiver was authorized to
issue $250,000 certificates to complete the road to Portsmouth. In
1881-82 gross earnings were $95,850; uet.$2*2,747. There is a 2d mort¬
gage on main line, $259,500, due 1890; a 3d mortgage of $704,000, and
a mort. of $86,000 on branch, due 1903.
(V. 40, p. 120, 301.)
Cincinnati Hamilton St
Dayton.—Owns from Cincinnati, O.
Da}*ton, O., 60 miles; leased—Dayton A ‘ Michigan, Dayton to
Toledo, 142 miles; Cincinnati Hamilton A Indianapolis, Hamilton to
Indianapolis, 99 miles; Cincinnati Richmond A Chicago. Hamilton, O.,
to Indiana State line (and leased road), 44 miles; McComb Toledo A
D., 9 miles: total operated, 351 miles ; each lease reported separately.
Iu April, 1882, Mr. Jewett, of the Erie, and associates, obtained
control of the stock by guaranteeing 6 per cent on 20,000 shares which
were purchased and deposited in trust and trust certificates issued there¬
for; the guarantee is to make up any deficiency in 6 ner cent dividends
on those shares after the application of net income thereto.
In August,
1882, the issue of $1,000,000 preferred stock was voted for improve¬
ments. The aunu.*U report for 1883-84 was in V. 38. p. 737, and V. 39,
p. 21. For six months from April 1 to October 1, 1884, the following
repoit is made:
Earuiugs
$1,466,350
937,090
Expenses
to
„
Net earnings
Interest and guaranteed
$529,251
dividends
334,168
Surplus
This surplus
$195,083
was sufficient to pay the semi-annual dividend of 3 per
cent on the common stock (which takes $105,000) and leave a surplus
of $90,083 for the half-year.
Income account in the fiscal years
ending March 31
was a9
follows,
including all the roads operated:
1880-81.
Gross
receipts
$2,882,300
Operating expenses. $1,895,300
80,022
Taxes, Ac
C. H. AD. div..
Interest
D. A M. dividends...
Profit and loss
Other items
Total
Net surplus
—(V. 38, p. 73 7;
1881-82.
1882-83.
$2,961,446
$3,088,407
$2,014,907
85,119
$2,031,664
83,002
1883-84.
$3,042,461
$1,994,766
88,939
26,482
509,840
132,015
14,500
3,318
10,086
586,659
132,015
750
11,238
$2,705,751
$2,799,750
$2,830,689
$2,758,229
$176,554.,
$161,696
V. 39, p. 21, 208, 493.)
$257,719
$284,232
579,315
539.516
132,902
3,710
132,164
5,735
460
33
RAILROAD
STOCKS AND
BONDS
[Vol. XL.
RAILEOAD
April, 1885.]
Subscribers will confer
a
explanation of column headings, Ac.,
on
first page
AND
BONDS
33
great favor by giving immediate notice of any error discovered in tliese Tables*
DESCRIPTION.
For
STOCKS
of tables.
Miles
Date Size, or
of
of
Par
see notes
Road. Bonds Value.
Bonds—Prinol
INTEREST OR DIVIDENDS.
Amount
Outstanding
Rate per
When
Cent.
Payable
Where
pal,When Due
*
•
Payable, and by Stocks—Last
Whom.
Dividend.
•
Cincinnati Indianap. St. Louis db Chicago—Stock..
Ind. A Cin. of 1858, 1st mort
Indianapolis Cin. A Laf. mortgage
Cin. A Ind., 1st mortgage
do
2d M., guar., and funded coupons
Consol, mort. (for $7,500,000)
382
95
151
20
20
Cincinnati Lafayette A Chicago, 1st mort., gold ..
Cincinnati db Muskingum Valley—1st mortgage
Cincinnati Aetc Orleans & Texas Pacific—Stock
Cincinnati Northern— 1st, gold, mortgage
Cin. Richmond db Chic.—1st mort., guar. C. H. AD..
2d mortgage, guar, aud owned by C. H. AD
Cin. Richmond db Ft. TT.—1st mort., gold, guar
Cincinnati Sandusky db Cleveland—Stock
Preferred stock
Mortgage bonds, Sandusky, Dayton A Cincinnati
Mortgage bonds, Sandusky City A Ind
2d mortg. Cine.. Sandusky A Cleve
Cincinnati db Springfield—1st mortgage, guar
2d mortgage
Cincinnati Wabash db Michigan—Stock ($3,000,000)
Cincinnati Washington cb Balt.—Common stock—
Preferred stock
1st m<»rt. gold (tbe 4^s are’guar. by B. A 0)
2d mortgage, gold
Prior lien, gold.
3d mort., gold (3 pr. ct. for 10 years and 4 after)
1st income mort., noil-cumulative, gold
2d income mort., non-cuinulative
175
56
148
336
50
36
36
90
190
190
....
48
48
165
281
281
....
....
*
1,599.000
1,000
1,000
2,790,000
499,000
1,329,000
1,202,000
1,120,000
100
1880
1866
1869
1871
3,000,000
1,000
1,000
1,000
1.000,000
560,000
65,000
-
-
1.000
1,000
1,000
1,000
1,000
50
50
-
....
....
•
*
•
•
1,000
1883
1883
1883
1883
1883
1883
....
*
500 Ac.
1*2
1,500.000
4,003.330
428,850
625,000
350,000
1.072.300
2,000,000
651.000
100
100
1.945,530
6,854,096
13,535,903
7
7
7
7
6
7 g.
7
3
A.
F.
J.
J.
M.
M.
J.
A
A
A
A
A
A
A
New York.
O. N. Y., Amer. Ex. Bank.
A.
do
do
D.
do
do
J
do
do
N.
do
do
S. N. Y., Am. Escb. N. Bk.
J. New York, Moran Bros.
6 g.
A.
J.
J.
J.
M.
M.
F.
M.
J.
A.
J.
A
A
A
A
A
A
A
A
A
A
A
O. N. Y., Geo. W. Ballou.
J. N. Y., Winslow, L. A Co.
J.
do
do
D. N.Y., Winslow, L. A Co.
N.
Boston, Office.
N.
do
do
A. Boston, Nat. Revere Bk.
S.
Boston, Office,
D.
do
do
N. Y., U. S. Trust Co.
O.
do
J.
do
7
7
7 g.
2
3
6
7
7
7
7
1.800,000
1,000
....
....
$7,000,000
1858
1867
1862
1867
1880
1871
1870
1866
1852
1867
1871
1872
....
*
$100
....
Q.-J.
7,500,000 4^gA 6g M. A N. N.Y.,Farm’s’ L.A Tr.Co.
1,000
1,000
1,000
2,270,000
3,500,000
4,000.000
Cincinnati Indianapolis St. Louis Sc Chicago.—(See Map.) —
Owns from Cin. to Lafayette., Iud., 174 miles; Lawrenceburg branch,
3 miles; Harrison branch (partly owned), 7 miles; Fairland F. A M.
500,000
5 g.
4bjg.
3-4
5
5
J. A J.
A. A O.
F. A A.
owned), 13 miles; Col. Hope A Green., 26 miles; total operated, 411 miles.
This company was formerly the Indianapolis Cin. & Laf., which was a*
consolidation in 1876 of the Indianapolis & Cin. and the Laf. & Indianap¬
olis railroads, the company taking a perpetual lease of the Cincinnati
A Indiana Railroad. On August 1, 1876, a receiver was appointed
and the road was sold in foreclosui e Feb. 2, 1880, and this company
organized. Of the $7,500,000 new bonds $6,885,000 was reserved, into
which all of the old bonds prior to the Indianap. Cin. A Laf. 7s of 1869
terest is guaranteed by the
aud Cincinnati Hamilton A
paying dividends of 6 per cent in 1881. 6 in 1882, and 3 in 1883, the
dividends from July, 1883, were passed, the money being required for
repairs of damages by flood. Ac.
For eight months from July 1,1884, to March 1,1885, gross earnings
were $1,721,158, against $1 617,095 in 1S83-4; sur*lus over interest,
etc $232,699, against $156,500 in 1 883-1.
The President’s annual report for year ending June 30,1884, was in
V. 39, p. 263, and the statistics of income, Ac., on p. 296.
,
INCOME ACCOUNT.
1SS0-81.
Receipts—
Net earnings
Disbursements—
Interest
on
bonds
Dividends
Rate of dividends..
Miscellaneous
Tot. dishursom’ts
Balance surplus...
J
881-&2.
1882-83.
1883-34
$
$
$
$
96!, 190
1,000,609
973,652
$
565,909
$
591.326
$
621,159
903.190
$
180,000
(ik» p. c.)
6,891
360,000
(6 p. c.)
6,732
752,803
208,687
—(V. 38, p. 261, 508; V. 39, p. 263 ,
92, 213, 337, 430.)
626.233
315,000
(4*2 p.c.)
2,312
5,254
938,501
958,058
631,437
35.151
42,551
271.703
296, 461,493, 580, 707; V. 40, p.
Cincinnati Sc Uluskingnm Valley.—Owns from Morrow, O., to
Dresden Junction,O., 148 miles. Chartered as Cinn. Wilm. A Zanes.
in 1851 and opened in 1857. Sold under foreclosure Oct. 17, 1863, and
as Cincinnati A Zanesville March 11, 1864.
Sold again
Dec. 10, 1869, and reorganized as at present. Leased for 99 years from
Jan. 1, 1873, to P. C. A St. Louis, lessees to pay all expenses and inter¬
est. any excess of earnings to inure to the lessors.
Gross earnings in
1882, $386,740; net, $86,864; in 1883, gross earnings, $384,050; net,
reorganized
$566; interest paid, $105,000; deficit advanced by lessee, $104,433.
Total
amount
due
lessee
Dec. 31,
1883, $815,591.
Capital stock,
$3,997,320.
Cincinnati New Orleans Sc Texas Pacific.—(See Map.—This is
the company organized under the laws of Ohio Oct. 8, 1881, to operate
the Cincinnati Southern, and 51 per cent of the stock is held by the Eng¬
lish company,
Limited.
the Alabama New Orleans A Texas Pacific Junction Co.,
The Cincinnati Southern road extends from Cincinnati
Chattanooga, Tenn., 336
miles.
to
The rental due the Cincinnati
till 1886, then $912,oOO till 1891,
Southern is $812,000 per year
$1,012,000 till 1896, $1,102,000 till 1901, and $1,262,000 fill 1906.
The annual report for 1884 in V. 40, p. 335, gave the following income
account for two years :
Receipts from—
Passengers
Freight
Mail, express and miscellaneous
1884.
1883.
$651,197
$634,940
1,843,781
168,622
118.131
$2,658,184
1,836,974
$2,647,343
earnings
$821,210
$796,022
Deduct—
Rent of road
Paid to Trustees
$300,000
$800,000
12,0 0
12,000
Total earnings
Operating expenses and taxes
Net
Balance
John Scott.
1,851.321
$312,000
$312,000
Stir $9,210
p. 260 ; V.
Def. $15,978
President, Cincinnati. (V. 38,
39, p^348; V.
40, p. 240, 335, 363.)
Cincinnati Northern.—Dayton. O., to Cincinnati, 60 miles. Con¬
necting line of the Toledo Delphos A Burlington, and in March, 1883,
consolidation with the Toledo Cincinnati A St. Louis was voted, and
after that company defaulted an attempt was made to get a separate
receiver for Cincinnati Northern. There are also $ i ,000,000 of income
bonds, and an authorized issue of $1,000,000 mortgage bouds on the
Avondale branch, of which $700,000 are outstanding.
The coupons
of 1st mortgage bonds from Oct., 1882. to Sept., 1884. inclusive, were
to be funded into a 6 per
cent scrip.
Stock, $1,000,000.
V 39,
p.
22.)
Cincinnati Richmond Sc Chicago.—Owns from Hamilton, O.,
to Indiana State Line, 37 miles; leased, Richmond, Ind., to Ohio State
Line, 7 miles; total operated, 44 miles. Reorganized May 3, 1866,
and leased in,perpetuity from February, 1869, to Cincinnati Hamilton
Oct.
1, 1920
July, 1895
Jan.
1, 1889
June, 1921
May 1, 1884
Nov. 1, 1884
Aug. 1, 1900
Mch., 1887
Dec.
1, 1890
April 1, 1901
1902
-
do
do
do
do
do
Nov. 1,
Nov. 1,
April 1,
Nov. 1,
Nov. I,
Nov. 1,
1931
1931
1893
1931
1931
1931
A Dayton Co., this company to receive all surplus after expenses and
bond interest. Gross earnings in 1882-33, $254,003; net, $109,844;
int., $53,900; ourp., $55,944. Gross in 1883-4, $247,911; net, $86,256 ;
int., $43,120; surplus, $43,068.
In July, 1881, $2,000,000 new stock was sold to stockholders at 70,
and proceeds used to extinguish floating debt and for other purposes.
In June, 1882, another issue of $1,000,000 new stock was voted. After
do
do
do
do
do
...»
Road, 38 miles; and Cincinnati Lafayette A Chicago (leased), 76 miles;
Vernon (Ireen. A Rush., 44 miles (lleased); Kankakee A Seneca (one-half
could be exchanged at par.
Mch., 1901
Jan., 1901
Feb. 5, 1883
....
1,000
1,000
1,000
3,040,000
April 16, 1883
Oct., 1888
Feb., 1897
Dec., 1892
Jan., 1887 .’92
May 1, 1920
Capital stock, $382,600.
Cincinnati Richmond Sc Fort Wayne.—Owns from Rich¬
mond, Ind., to Adams, Ind., 86 miles; leased, 5 miles of Pittsburg
Fort Wayne A Chicago; total operated, 91 miles. Leased for 99 years
to Grand Rapids A Indiana, the
rental being net earnings; in¬
lessees and by the Pennsylvania Company
Dayton Company, jointly. Gross earnings
in 1884, $388,768; net, $63,571. Loss to guarantors, $100,391. Capital
stock, $1,709,192. Total advances by guarantors, $895,479.
Cincinnati Sandusky Sc Cleveland.—Owns from Sandusky,
Ohio, to Dayton, Ohio, 154 miles; branch, Carey to Findlay, 16 miles;
leased, Columbus Springfield A Cincinnati, 44 miles; total operated, 214
miles, less the division between Springfield A Dayton, 24 miles, which Is
leased to and operated by the Cleveland Columbus Cincinnati A Indian¬
apolis. Six coupons on 2d mort. bonds were funded from June, 1877,
aud $222,064 in coupon bond scrip is outstanding. The preferred stock
has a lien by deposit of old bonds in trust.
The Receiver, after a
three years’ possession of the property, was discharged January 1880.
In Aoril, 1881, a lease was made to the Indiana Bloomington A Western,
By the terms of the lease this company takes 33ig per cent of its gross
earnings as rental; but the amount in any one year shall not be less
than $220,000 nor more thau $500,000.
in Nov., 1882, a dividend
of 2 per cent cash and 10 per cent in the stock of the Columbus
Springfield A Cincinnati RR. was declared.
In year ending June 30,1884,
rentals received and miscellaneous receipts were $289,576. Payments,
including till expenses, interest, dividends on preferred stock, and 2
percent on common stock, were$300,913.
Cincinnati Sc Springfield.—Operates from Cincinnati, Ohio, to
Springfield, Ohio, 80 miles, of which 32 miles were leased from other
companies. The whole is leased and operated by Cleveland Col. Cin.
A Ind. Co., giving them a line into Cincinnati, and depot accommoda¬
tion.
Lessees apply any excess over rentals to C. A S. stock. Interest
is guaranteed on the first mortgage, one-half by the lessees aud one-half
by L. Shore A Mich. Southern. Stock is $1,100,000. To January, 18*5,
tbe C. C. C. A I. had advanced $2,585,340.
Gross earnings in 1883,
$947,253; net. $190,177; rentals paid. $179,905; interest on debt,
$185,220; total, $365,125; deficit, $174,497. Gross earnings in 1884,
$910 9uS; net earnings, $193,068; rentals, $166,060; interest, $185,570; total, $351,630; deficit, $174,947.
Cincinnati Wabamh Sc Michigan
Rail way.—Owns from
Benton Harbor, Mich., to Anderson, Iud., 165 miles. Sold Nov. 5, 1879,
for account of bondholders.
New company organized April,
1880.
Total stock authorized. $3,000,000. Gross earnings for 1882, $290,920 ;
net, $79,589. Gross in 1883, $334,774; net, $26,074.
President, Cleveland, Ohio. (V. 38, p. 424.)
J. H. Wade,
Cincinnati Washington Sc Baltimore.—Cincinnati, O., to
Belpre, O., 193 miles; branches- Marietta to Belpre, 11 miles; Ports¬
mouth to Hamden, 55 m ; Blauchcster to Hillsboro, 22 m.; total, 281 m.
The Marietta A Cincinnati was a consolidation in- 1851 of tbe Belpre
A Cincinnati and the Franklin A Ohio River roads, and afterward
absorbed the Hillsboro A Cincinnati and the Scioto Valley. The Cincin¬
nati A Baltimore (into Cincinnati), ana the Baltimore Short Line (main
line to Belpre) were leased,and on the reorganization have been consoli¬
dated. The Marietta A Cincinnati Co. made default, and the road was
placed in the hands of Mr. John King, Jr., of the Baltimore A Ohio,
as receiver, June 27, 1877, and a foreclosure suit was
begun. The sale
in foreclosure took place Dec. 9, 1882, and re-organization was made
Feb. 7, 1883, under name of “Cincinnati Washington A Baltimore.”
The company had run behind largely in its income, partly owing to the
fact that large rentals and interest were paid to the Cincinnati A Balti¬
more and the Baltimore Short Line, in which companies Baltimore Sc
Ohio parties were interested. The total yearly charges were about
$1,400,000, and by the reorganization are reduced to about $700,000.
The three old mortgages on different roads given in the last three lines
of the table above were allowed to remain; then prior lien bonds were
issued for receiver’s certificates. Of the first mortgage bonds, $1,250.000 were issued for the Cincinnati A Baltimore Railroad stock, and bear
6 per cent, the balance
4^ per cent, and these are guaranteed
by the Baltimore A Ohio Railroaa Company. The income bondholders
will be entitled to one vote at
all meetings of stockholders for
every one hundred dollars held. The holders of Marietta A Cincinnati
first preferred stock paid a cash assessment of $2 50 per share; 2d pre¬
ferred. $i 50 per share; common, $150 per share. The Baltimore Sc
Ohio RR. Co. received for its claims $3,100,000 of the new preferred
stock and $3,100,000 of the common of the new company.
The fixed charges of the company arc about $700,000 per year.
In
1884 gross earbiDgs were $1,554,307; net, $445,936; deficit under
interest charges, $246,136.
In the year 1883 earnings and inc< me were as follows:
Earnings.
Passenger
Freight
Mail, express, Ac
$562,881
1,177,131
249,805
Operating expenses.
Mairiten’uce of way, Ac.
$308,967
Maintenance of equip’t
460,673
Transportat’n expenses
Taxes and rents
General
Total
earnings
$1,989,867
Total expenses
545,511
90,193
81,478
^$1,489,820
KAILROD
STOCKS
AND
BONDS.
[Vol.
XL.
RAILROAD
April, 1885.]
Subscribers will confer a great favor
DESCRIPTION.
for
STOCKS
AND
by giving immediate notice of
Miles
of
explanation of column headings, &c., see notes
on first page of tables.
Road.
Date
8ize, or
of
Bonds
Par
Value.
S5
BONDS.
any error
discovered in these Tables*
Bonds—Prinoi
INTERE8T OR DIVIDENDS.
Amount
Outstanding
Rate per
Cent.
When
Payable
Where Payable,
Whom.
pal.When Due
Stocks—Last
Dividend.
and by
•
Cincinnati Washington d Baltimore— (Continued)
Baltimore Short Line mortgage
—
Cincinnati & Baltimore mortgage
Scioto A Hocking Valle jr mortgage
Cleveland Akron d Columbus— Stock
•
•
•
-
•
•
•
$750,000
500,000
1,000
....
1852
,
300.000
...
Dec.
Jan.
J. & D. N. Y., Farm.Ln.ATr.Co.
do
do
J. A J.
do
do
M. & N.
do
do
N. Y., U. S. Trust Co.
F. A A.
2
do
do
7
J. A J.
do
do
M. A N.
7
7 or 6 g. J. & D. New York or London.
New ifork.
6 g. J. & J.
7
7
7
extended
158
158
158
127
67
67
35
99
,
3d mortg. (now 2d)
Niles & New Lisbon, 1st mortgage
Cleveland dMarietta— Stock
1st mortgage
Cleveland d Pittsburg— Guaranteed stock
100
100
....
....
1864
1869
1874
1884
4,000,000
14,991,600
319,000
3,000,000
3,997,000
l,5u0,000
1,000,000
4,600,000
700,000
2,759,200
740,500
1,000
1,000
1,000
1,000
1878
....
1873
1876
1870
50
500 Ac.
500 &c.
500 &c.
654,600
500,000
1,547,000
1,000,000
1880
226
199
199
mortgage (now 1st)
Consolidated sinking fund mort. for $5,000,000..
Construction and equipment bonds
Cleveland Youngs. d Pitts.—IstM., gold
Oolebrookdale— 1st mortgage
Colorado Central— 1st mortgage, new
Columbia d Greenville—New mort.,g’ld,coup, or reg
....
•
•
•
•
13
323
164
164
40
2d mortgage
Columbia d Port Deposit—1st mortgage
....
1862
1867
1873
1882
1868
1879
1881
1881
1868
7
534
7 g.
7
7
7
50
500
11,222,550
1,096.000
6
1,000
1,000
1,000
2,351,000
1,764,000
lOOAc.
600,000
4,701,000
2,000,000
1,000,000
1,862,000
7
7
6 g.
6
7 g.
6 g.
6
7
1,000
1,000
1,000
1,000
1,600,000
1%
A.
M.
F.
M.
J.
&
A
A
A
&
O.
N.
A.
8.
J.
1, 1904
1, 1900
May 1, 1896
■'
General mortgage, gold (for $12.000,000)
Cleveland Lorain d Wheeling— Stock, common
Stock, preferred
Clevel’nd Tuscarawas Val. & Wheeling 1st mort.
Cleveland d Mahoning Valley—Stock
4th
•
144
391
202
390
390
Cleveland Columbus Cincinnati & Ind — Stock
1st mortgage Bel. A Ind
do
C. C., C. & I. sinking fund
Cons.mortgage (sink, fund 1 p. c.)
1st mortgage,
$1,000
1869
Feb. 1, 1883
Until 1899
May, 1899
June 1,1914
Jan. 1, 1934
Cleveland, Office.
N. Y., U. S. Trust Co.
1, 1898
1884
Aug. 1, 1893
do
do
N. Y., Union Trust Co.
Sept. 15, 1896
Jan., 1890
Oct,
N.Y.. Union Trust Co.
F. & A. N.Y., Winslow, L. A Co.
Q.-M. N. Y., Farm. L. A T. Co.
do
do
J. & J.
do
do
M. A N.
do
do
J. A J.
J. A J. N.Y.,Nat. Bk.of the Rep.
J. A D. Phila., Phil. A R. Office.
J. A J. Boston, Treas.’s Office.
J. A J. N.Y., Nat. Park Bank.
do
do
A. A 0.
F. A A.
Phila., Penn. RR.
Aug. 1, 1905
Mar. 1, 1886
Jan., 1892
Nor. 1, 1900
Jan.
1. 1913
July 1, 1921
June 1,
1898
July, 1909
Jan. 1, 1916
April 1, 1923
Feb. 1,
1896
•
Net earnings
Per cent of expenses
$500,042
74-87
to earnings
INCOME ACCOUNT.
$500,042
Net earnings.,.
Interest on debt
073,690
Balance, deficit
$173,648
-(V. 38. p. 60, 455, 677 ; V. 39, p. 96; V. 40, p. 453.)
Cleveland Akron Ac Columbus.—Owns from Hudson, O., to
Default was made July, 1874, by Cleve¬
Columbus, O., 144 miles.
land Mount Vernon A Delaware. Sold in foreclosure August 20, 1881.
In March, 1882, the decree of foreclosure under which sale had been
made was reversed, and road was sold again June 7 to parties represent¬
ing the Holland bondholders and company reorganized without bonds.
Gross
Gross in 1883,
eaTnings in 1881-82, $469,929; net, $77,214.
$523,983; net, $117,319.
Columbus Cincinnati Ac Indianapolis.—Owns
from Cleveland, O., to Columbus, O., 138 miles; Galion,O., to Indian¬
Cleveland
apolis, Ind., 203 miles;
Delaware, O., to Springfield, O., 50 miles;
leased, Cincinnati & Springfield RR., 80 miles; Levering Station to
Mount Gilead, 2 miles; Ina. & St. Louis RR , Indianapolis to Terre
Haute, 72 miles; St. L. Al. A T. H., East St. Louis to Terre Haute, 189
miles; Alton branch, 4 miles; total owned, leased and operated, 738
miles. This was a consolidation in April, 1868, embracing the C. C. & C.
and the Bellefontaine roads; subsequently leased Cinn. A Spring. RR.
and St. L. Al. & T. H. RR., and purchased Ind. & St. L. RR.
The company paid dividends prior to 1877, but after that the
large decline in rates for through freight and the heavy rentals paid
reduced the company’s income so that no further dividends were paid
until February, 1880, and none after that till February, 1883. In 1882
the company acquired control of the Indianapolis A St. Louis, and made
a new lease of the St. Louis Alton A Terre Haute Railroad.
The sinking
fund provision of consolidated bonds may be canceled at option of
holders, and the bonds so stamped.
*
The annual report for 1884 was in the Chronicle, V. 40, p. 392, and
contained the following, the tables including the C. C. C. A I. only:
The operating results of the lines controlled by the company between
Indianapolis and St. Louis have not equaled expectations.” * * *
These properties, the Indianapolis & St. Louis, with the 8t. Louis Alton
& Terre Haute roads, have now been brought with their equipment into
standard condition, and the large outlay requisite to their practical
reconstruction, which has been made during the past two years, sub¬
stantially completes the work. On account of these properties for the
purposes named there has been advanoed by this oompany during the
yeaT the sum of $1,087,293. To the Cin. & Spr. R’way, to meet a deficit in
its operations during 1884. and for the expense of some new track and
additional land, there has been advanced the sum of $162,179.” * * *
The bonded debt of the company has been increased during the year
by $1,521,000, and now stands at $8,816,000. The cause for this
increase, herein alluded to for the purposes of securing this company’s
ownership and control of the lines between Indianapolis & St. Louis,
and bringing the same into standard condition for operating, has been
fully explained iu the preceding annual report. This work, which had
been deliberately entered upon during the summer of 1882, is now sub¬
stantially ended.”
“
“
“
OPERATIONS AND FISCAL RESULTS
1881.
391
Miles owned
1882.
391
1883.
391
1884.
391
Operations—
899,330
1,035,764
976,468
938,647
Passengers carried...
Passenger mileage.... 41,689,179 44,759,982 43,548,617 42,176,610
2133 cts.
2-159 cts.
2-235 cts.
2 217 cts.
Rate # pass. $ mile
2,527,993
2,347,792
2,755,867
Freight (tons) moved 2,880,923
Freight (tons) rnil’ge.480,723,710 447,411,484 408,436,350 397,678,278
Av.rate $ ton f) mile
0-751 cts.
0-633 cts.
0 671 cts.
0-706 cts.
$
Earnings—
899,435
965,693
1,000,270
899,918
Passenger
2,518,873
3,068,717
3,159,417
Freight
3,225,356
182,038
178,697
178,788
Mail, express, Ac..
165,076
.
..
4,338,475
2,963,778
4,213,107
3,018,332
earnings
$1,323,181
$1,374,697
$1,194,725
Receipts—
Net earnings
$
1,323,181
66,271
32,240
$
1,374,697
103,125
$
1,194,725
$
343,597
129,497
94,305
165,531
211,396
13,805
1,441,692
1,572,127
1,489,753
Net
Rentals and interest
Miscellaneous
Total income
Disbursements—
Interest on debt
Taxes
Dividends
_
475,218
112,688
$
498,615
121,276
268
12,313
588,174
632,204
$
_
Miscellaneous
Total disbursem’ts.
Balance, surplus
853,518
939,923
—(V. 38, p. 261, 293. 331. 374, 385, 424, 447,
732; V. 40, p. 337, 392.)
2,756,749
$
507,453
125,144
(2) 299,984
26,995
959,576
530,177
Shore A Tuscarawas
Valley in 1870 and opened in 1873. Sold under foreclosure Jan. 26,
1875, and reorganized as Cleveland Tuscarawas Valley A Wheeling. In
February, 1882, receiver appointed in a suit under the mortgage of
1878, and in February, 1883, road sold and reorganized as Cleveland;
Lorain A Wheeling. The new company has no bonded debt except the
$700,000 in table above. For 10*3 months to Dec. 31. 1883, gross
earnings were $938,461; net $366,286 ; interest, $49,000.
Cleveland Ac Malioulug Valley,—Owns from Cleveland. O.,.
to Sharon, Pa., 81 miles; Niles, O., to New Lisbon, O., and branches.
46 miles; total operated, 127 miles.
It was leased to Atlantio A Great
Western in perpetuity from October 1,1861. A new lease was made
to the reorganized company. New York Pennsylvania A Ohio, till Oct.
1,1962, at $357,180 per year till January, 1885, and $412,180 per year
afterward.
Cleveland Ac Marietta.—Operated from Marietta, O., to CanaDover and branch, 99 miles.
This company was organized as suc¬
cessor of the Marietta Cleveland A Pitts., which was foreclosed June 13,
1877. In Aug., 1884, intere t was not paid, owing to failure of C. K.
Receiver was aupointed February, 1885.
Garrison.
Earnings for
1883-84. $228,763; net. $37,369.
Earnings in 1882-83, $197,466; net,
$47,337.
(V. 40, p. 240.)
R. C. Livingston, Pres’t, N.Y. City.
Cleveland, O., to Roch¬
to New Philadelphia, 31
miles; Yellow Creek to Bellaire, 43 miles; leased, Rochester to Pittsburg
(P. Ft. W. A C.), 26 miles; total operated, 226 miles. The property was
leased for 999 years from Dec. 1, 1871, to Penn. RR. Co., and lease trans:
ferred to Penn. Co. May 1, 1872. Rental, 7 per cent on existing capital
and $10,000 per year for company expenses, the lessees assuming all lia¬
bilities. The terms of the lease were 10 per cent, but the old stock was
subsequently converted into a 7 per cent stock by an increase in amount.
In 1882 surplus income over charges to lessee was $474 951.
This
company’s annual report for the jrear ending November 30, 1882, stated
that final settlement had been made with the Pennsylvania Railroad
Company in the matter of surplus assets remaining to this company, as
of the date of the lease, after closing its business, whloh surplus accrued
to the lessee by the terms of the supplementary agreement of November
30,1871. “The total amount transferred as. authorized by the board
of directors is $202,291. This sum has been oharged against construc¬
tion, meeting the old balance of net earnings—$390,138—credited to
construction in the year 1880.”
Operations and earnings for three years (ending December 31) were t
Passenger
Freight (ton)
Gross
Net
Div.
Years. ' Miles.
Mileage.
Earnings. Earnings, p.o.
Mileage.
211,190,606
$3,112,021
$1,507,131
7
1881
226
22,265,486
Cleveland Ac Pittsburg.—Owns from
ester, Pa., 124 miles; branches—Bayard, O.,
1882
1883
226
226
23,234,059
24,071,544
215,901,749
228,440,527
^y^ gg^
g7,)
Cleveland Youngstown Ac
3,353,363
3,349,424
1,734,467
1,606,381
Pittsburg.—Narrow-gauge road io
38
progress from Southington, O., to Steubenville, O., 100 miles, and
miles branches. Sevent/-flve miles finished to Dec. 31,1883. Earnings
in 1882-83, $43,435; net, $17,372. In March, 1884, Robert Martin, of
Steubenville, O., was appointed receiver, and a sale
afterward ordered
Henry W. Ford, President, 15
in foreclosure was
Cortlandt St., New
(V. 38, p. 294.)
Colebrookdale.—Owns from Pottstown. Pa., to Barto, Pa., 13
miles. Leased for 20 years from Jan. 1,1870, to Philadelphia A Reading,
at 30 per cent of gross earnings.
Gross earnings in 1882-83, $61,270;
net earnings (30 per cent rental), $18,381. Gross in 1881 -82, $57,698 ;
net, $17,309. Capital stook, $297,215.
Columbia Ac Greenville (S. C.)—The company owns from
Columbia to Greenville, 8. C., 143 miles; branches to Abbeville and
Anderson. 21 miles; total, 164 miles. Also owns Laurens RR., 31 miles;
and leases Blue Ridge RR., 32 miles, and Spartanburg Union A Col. RR.,
69 miles. Total operated, 296 miles. In 1878 a Receiver took possession
of the Greenville A Columbia and the road was sold in foreclosure April
15, 1880, and reorganization was made under this name; preferred
stock, $1,000,000; common stock, $1,000,000; all in $100 shares.
York.
A majority of the stock is held
Co. The gross earnings on all
(V. 38, p. 202; V. 39. p. 297.1
Colorado Central—("See Map of Union
$9,056.
INCOME ACCOUNT.
.
from Lorain, O., to
by the Richmond & West Pt. Terminal
lines in 1882-83 were $836,375; net,
$299,108; interest, $202,650; rental, $50,000. In 1883 84, gross earn¬
$843,597 ings, $640,720; net, $: 90,676; interest and rentals, $199,733; deficit,
3,600.346
4,290,350
2,967,169
Total gross earn’gs.
Operating expenses.
Cleveland. Lorain Ac Wheeling.—Owns
West Wheeling, O., 158 miles. Chartered as Lake
1,068,798
$
602,540
119,104
102,633
824,277
244,521
764 ; V. 39. D. 47, 580,
Pacific)—Denver to Golden,
16 miles; Golden to State line, 106 miles; Denver Junction to La Salle,
151 miles; and narrow gauge lino from Golden to Georgetown. 34
line from
operated, 327
It is owned by
t:> take up the
old 8 per cent bonds, of which $87,000 are yet out.
Stock, $6,230,300.
Gross earnings in 1883, $1,543,556; net, $553,898; interest and divi¬
dends, $460,036; surplus, $93,262. In 1884. gross earnings, $1,492,142;
net. $524,008 ; interest and dividends, $429,484; surplus, $86,952.
Columbia Ac Port Deposit.—Owns from Columbia, Pa., to
Port Deposit. Md., fcO miles.
Leased to and operated by Pennsylvania
RR. Co. Rental, net earnings. Net earnings in 1883, paid to lessors*
$46,967.
Capital stock, $497,100; funded debt, $1,882,000, and float¬
miles,
and Forks Creek to Central City, 11 miles; leases
Colorado Junction to Wyoming State line, 9 miles; total
miles. Chartered in 1865, and main line opened in 1870.
the Union Pacific. The new mortgage bond was issued
ing debt (coupons), $722,470.
«*•
Subscribers will confer a great
favor by giving
explanation of column headings, Ac., see
on first page of tables.
Columbus Hocking Valley <£•
Immediate notice of any error
Date
Miles
Size, or
Pai
of
of
Road. Bonds Value.
notes
Toledo—Stock..
$14,500,000)
Consol, mortgage, gold (for
1st mortgage, sinking fund bonds
2d mortgage bonds.
Columbus A Toledo, 1st mortgage coupon, s. f
do
2d mortgage coupon, s. f
Ohio A W. Va., 1st M. (s. f. $15,000 begins in ’86)
Columbus Springfield dt Cincinnati—1st mort
Columbus <t Western— 1st mort. (end. by Cent. Ga.)
Columbus <£ Xenia—Stock
1st mortgage
Concord—Stock
324
324
121
121
118
118
83
60
55
55
142
71
$100 $10,316,500
8,000,000
500 Ac.
1,401,000
1.000
777,000
2,474,000
1,000
422,000
1,000
1.000
1,584,000
1,000,000
1,000
677,000
1.000
50
1,786,200
302,000
1,000
50
1,500,000
500 Ac.
500,000
■
I860
1874
Mortgage bonds
Massawippi st’k, guar, same div. as Conn. A Pass.
do
bonds, guar, by Conn. A Pass
Newport A Rickford bouds, guar, by C. A P
Connecticut River—StoeK
Connecting (Phila.)—1st mortgage
Valley--Consolidated mortgage
Consol, RR. of Vennont—1st mortg. (for $7,000,000)
Missisquoi "Railroad bonds
Corning Cowanesque dt Antrim— Debenture bonds..
Cumberland <£• Pennsylvania—1st mortgage
2d mortgage, sinking fund, (guaranteed)
Connotton
Cumberland Valley—Stock ($484,900is preferred).
1st mortgage
2d mortgage, sinking fund guaranteed
Danbury <£• Norwalk—Stock
1st and 2d mortgages
1875
1873
■
1870
1,000
400,000
1881
1,000
350,000
2,370,000
J
100 Ac.
500 Ac.
line
26 ;
1,655.569
$1,190,657 $1,133,703 $1,123,812
59 56
60-7 2
52-75
$620,887
12,650
23,337
.
533,783
$366060
35,725
$866,060
27,597
22,787
216,465
22,023
237,092
Balance—credit
—(V. 36, p. 114, 295; V.39, p. 493.)
Columbus Springfield Sc Cincinnati.—Owns from Columbus,
Ohio, to Springfield, Ohio, 44 miles. Leased with Cincinnati Sandusky
& Cleveland to Indiana Bloomington & Western, May 1, 1881, for 33>3
per cent of gross earnings, with guarantee of $80,000 as minimum.
Of the excess over minimum, if any, on 33*3 basis, this company takes
one-fifth and Cincinnati Sandusky & Cleveland four-fifths.
Capital
stock, $1,000,000, and bonds, $1,000,000.
Columbus Sc Western.—Owns from Opelika to Goodwater, Ala.
60
miles, and Columbus to Opelika, 29
Savannah A Memphis RR. was
miles—total 89 miles.
The
foreclosed June 5, 1880, and this Com¬
organized. Extension was in progress from Goodwater to Birming¬
ham, Ala
The bonds are endorsed by Cen. RR. of Georgia. Gross
earnings in 1881-82, $144,744; net $20,609. Gross in 1882-3. $176, *70;
nef, $60,963; interest paid, $31,990. Stock, $1,750,000. W. G. Raoul,
President, Savannah.
Columbus Sc Xenia.—Owns from Columbus, Ohio, to Xenia, Ohio.
55 miles.
Is operated as a division of the Little Miami, and is leased
for 99 years in connection with that road to the Pittsburg Cincinnati &
Bt. Louis, which pays 8 per cent on stock and provides for the bonds.
The lease is guaranteed by the Pennsylvania Railroad Company. The
Columbus & Xenia pays 825 per cent dividend per annum.
pany
Concord.—Owns from Concord, N. H., to Nashua,N. H., 35 miles;
Manchester A North Weare, 19 miles; Hookset Branch,7 miles; leased—
Concord & Portsmouth, 41 miles; Suucook Valley, 20 miles; Nashua
Acton A Boston, 20 miles; total operated, 142 miles. The company had
ioint operating contracts with the Boston A Lowell part of the year.
Fiscal year ends March 31. Operations, earnings, and income over ren¬
tals, Ac., for four years past were:
Net
Gross
Passenger Freight (ton)
Earnings. Earnings.
Miles.
Mileage
Mileage.
$955,000 $362,608
30,295,384
142
13,118,217
471,208
1,258.419
31,976,137
142
21.499,671
430.317
1,317,879
35,972,7L9
142
26,396,541
476,190
1,142,895
36,088,256
142
15,954,088
Concord Sc Claremont. Owns from Concord to Claremont,
N. H., 56 miles; branch, Contoocookviile to Hillsborough, N. H..
Years.
...
...
...
..
15 miles; total
in 1873.
Consolidation of several small roads
Gross earnings in 1882-83, $152,Capital stock, $410,900. Floating debt,
operated, 71 miles.
Fiscal year ends March 31.
259; net earnings, $44,103.
$254,245.
Concord
Sc
Manchester N.
Portsmouth.—Owns from Portsmouth,
H..
40*3 miles.
The road was sold
N. H., to
to first mort¬
and leased to Concord RR. in 1858. Lease
gives 7 per cent a year to present stock¬
gage bondholders in 1857,
rental is $25,000 a-year, which
holders. There is no debt.
Connecticut Central.—Owns from East Hartford, Ct., to Massa¬
chusetts State Line, 20 miles; branch from Melrose to West Street, Ct., 7
miles; total
operated, 28 miles. Le:ised to New York A New
England RR.
earnings, out never
$448,500. Fuuded
debt, $325,000. all owned by New York A New England Railroad. In
year ending Sept. 30, 1883, gross earuings, $98,409; deficit, $6,666;
for 15 years from June 1, 1880, the rental to be net
to exceed 6 per cent per year on stock. Capital stock,
lixed charges,
$19,494.
(V. 40, p. 181.)
Connecticut Sc Passumpsic.-Owns from White River Junction
Vt., to Canada Line, 110 miles; leased, Massawippi Valley and branch
(Canada), 37 miles;
total operated, 147 miles. The lease of
Massawippi
Railroad is at 6 per cent on bonds and same dividends as are psiid on
the stock of the lessee. Fiscal year ends June 30.
Abstract of last
report in V. 37, p 266
Operations and earnings for four years past
were as follows
1883
1931
1897
1892
1905
1900
1910
1901
1, 1911
Jan.
Mar.
10,1885
Sept. 1, 1890
May 1, 1885
1894
Dec. 27, 1884
Oct. 1, 1895
Feb. 2, 1885
April 1, 1893
Feb. 2, 1885
Jan. 1, 1890
Jan. 1, 1911
Jan. 1, 1885
1900-’l-’2-’3-’4
May 1, 1922
July 1, 1913
Jan.
1.
1891
J.
$2,519,794 $2,386,437 $2,779,382
earnings
10,
Sept. 1,
Oct. 1,
Jan. 1,
Aug. 1,
Sept. 1,
May 1,
Sept. 1,
2
paid
surplus
Net earnings
Ratio of expeuses to
Interest on bonds
Interest on debt.
Rentals
5 g.r m.'a's. N. Y\, Winslow, L. A Co.
do
do
A. A O.
7
do
do
J. A J.
7
do
do
F. A A.
7
do
do
M. A S.
7
do
do
M. A N.
7
M. A 8. Bost.,3 Merchants’ Row
7
N. Y., Nat, City B’k.
J. A J.
7
Columbus Treasury.
2
Q.-M.
Ml! A S. N. Y., Am. Exch. N. B’k
7
M. A N. Bost.AManchester.N.H.
5
J. A J. Bost., Treasurer’s office
7
J. A J. Bost.AManchester.N.H.
3L*
New York City.
A. A O.
7
F. A A. Boston. 95 Milk Street.
2L>
do
A. A O.
7
do
F. A A.
2 Lj
do
6 g. J. A J.
do
J. A J.
5
J. A J. Boston. Springfield, Ac.
4
M. A S. Phila., Penn. RR. Office.
6
Boston, Co.’s Office.
M. A N.
5 A 6
J. A J. Bost..Am. Loan ATr Co.
5
J. A J. St. Albans. W. C. Smith.
7
M. A N. Phila. F. r.T. AS. D. Co.
0
M. A S. N.Y., Consol.Coal Office
6
do
do
M. A N.
6
2^2
Q.-J Phila. aud Carlisle. Pa.
A. A O. Phila., T. A. Biddle A Go.
8
do
do
A. A 0.
8
7
Columbus & Hock¬
1,752,734
Jan.
2*3
400,000
Trust Co. of New York is trustee.
Prior to the consolidation the Columbus & Hocking Valley had 112
miles of road, $2,500,000 debt and $2,400,000 stock.
It had
regu¬
lar dividends of 8 per cent for a number of years, with a small
balance. The first dividend on the consolidated stock was that of 2*2
per cent paid in January, 1883;
Statement of earnings and income for three years is as follows ;
1883.
1882.
1881.
32100
324-00
Miles of railroad
322-50
1,329,137
Slocks— Last
Dividend.
109,500
Toledo, and Ohio & West Virginia. The stocks
consolidated stock for
$20,000,000 made, of which the above was issued. Of the consolidated
mortgage $6,500,000 is reserved to meet the prior liens. The Central
earnings
Whom.
Payable
pal,^When Due-
600,000
companies were purchased and new
Operating expenses
Payable and by
50
100 Ac.
50
500 Ac.
’70-’72
500,000
1,250,000
Where
When
500 Ac.
1868
ing Valley, Columbus A
Gross
discovered In these Tables
Bonds—Princi¬
May 1, 1898
March 1,1891
May 1. 1888
April, 1885
April 1, 1904
April 1, 1908
Various! New Y ork and Danbury Feb. 16, 1885
1,000
1,000
1,000
total,
of those
6.55?,000
6,000,000
1,000
Columbus Hocking Valley Sc Toledo.—Owns main
from Toledo to Pomeroy, 257 miles ; brandies—Logan to Athens,
Logan to Straitsville, 13; Straitsville toNelsonville, 17; others, 11;
324 miles.
consolidation in July, 1881, of the
991.000
1,000
1864
1882
1883
1871
1383
1866
52
52
36 Lj
33
325,000
2,244,400
1,500,000
400,000
100
.
78
38
38
82
350,000
100
500 Ac.
100
100 Ac.
100
41
29
147
110
37
37
22
80
7
161
185
Rate per
Cent.
1,000
1881
1867
1872
1875
1880
1880
1871
1881
45
Amount
Outstanding
1380-8324. 1
Concord <£ Claremont—Bonds
Concord <£ Portsmouth,— Stock, guaranteed
Connecticut Central— 1st mortgage, cp. or reg
Connecticut <£ Passnmjysic—Stock
This was a
[Vol. XL.
INTEREST OR DIVIDENDS.
DESCRIPTION.
For
AND BONDS.
STOCKS
RAILROAD
36
r
803,500
429,000
1,777,850
161,000
Years.
1880-81
1881-82
1882-83
1883-84
Miles.
147
147
147
147
:
A
Passenger
Mileage.
J. N. Y.. Central Trust Co.
Freight (ton)
Gross
Mileage.
Earniugs.
19,726,662
$774,146
851,749
6,117,700
7,198,586
8,365,277
8,060,667
22,589,950
22,792.090
23,281,523
884,851
837,940
1890-92
Net
Div*
Earnings, p.c.
$311,165
5
303 845
6
270,969
293,150
6
6
Connecticut River.—Owns from Springfield, Mass., to South Ver¬
Vt., 50 miles; branches, 6 miles; leased Ashuelot RR., South
Vernon, Vt., to Keene, N. H., 24 miles; total operated, 80 miles. Fiscal
non,
ends September 30.
Net income, 1881-82, $252,418; 1832-83.
$264,266 ; 1883-4, $257,599. Pays 8 per cent dividends on stock
has no fuuded debt.
(V. 39, p. 522.)
year
and
(Philadelphia).—Owns from Mantua Junction to
Pa., 7 miles.
A connecting link in Philadel¬
phia to the West and South. Operated by Pennsylvania Railroad.
Rental, 6 per cent on capital stock, $1,278,300; and interest on funded
debt, $991,900. The bonds are issued in series ABC and D, maturing
respectively in 1900-’l, '2. ’3 and ’4.
Connotton Valley.—Owns from Cleveland to Sherrods ville, 103
miles; Canton to Coshocton, 55; Oneida to Minerva, 3; total, 161.
This includes the Connotton Valley A Straitsville. All the old 7 per
cents, except $69,000. and all the Con. A Straitsville bouds, except
$78,090, were retired. Preferred stock issued is $885,850; common
stock, $5.0o0,000. Default was made May, 1832, on old bonds and
Nov., 1882, on consol, mortgage, and receiver was appointed January,
1881. The sale in foreclosure will take place probably in May, 188o.
The proposed plan of adjustment embraces the conversion of cousol.
mortgage bonds into pref. stock; floating debt into common stock;
the pr^f. stock ($50 shares) into new common stock ($10d shares), ten
shares for three now ; old common stock ($50 shares) into new common
($ LOO shares), four old for one new. Not earnings in 1884, $62,627;
in 1883, net. $31.924. II A. Blood, President. Fitchburg, Mass. (V. 33, p.
87, 114, 202, 229, 261, 359, 510, 678, 738 ; V. 39, p. 296; V 40, p. 151,
Connecting
Fraukford Junction,
304, 363. 385.)
Consolidated Railroad of
Vermont.—Road owned—Windsor,
Point. 65;
16
RR.,
26 ; Rutland RR., 120; Stan. S. A Ch. RR., 43 ; Vermont A Mass., 21 ;
Total owned,
New London No., 100; Brat. A Whitehall RR., 36.
leased and operated, 517 miles. In August, 1881, secured control of the
Vt., to Burlington, Vt., 120 miles; Essex Junction to Rouse's
Swanton to State line, 10; total, 185 miles. Leased—Addison RR.,
miles; Montpelier A White River RR., 6; Montreal A Vt. Junotion
Ogdensburg A Lake
This is the title
Champlain RR._
of the corporation
formed on the reorganization of the
Central Vermont and Vermont A Canada companies in 1883* On July
1, 1884, the old receivership was finally closed by order of Court
the transfer made to the consol, of Vermont, which leased all its roads
and
Central Vermont RR. Co. The holders of the first
articles of association with the Secretary
1883, for organizing the new company.
Preferred stock is $750,000, with preference of 6 per cent per annum
if earned; common stock, $350,009.
(See scheme of reorganization in
V. 35, p. 125.) Tlu\Central Vermont, which operated all this mileage
in 1883, reported earnings on 417 miles as $2,823,578 gross and
$651,400 net; rent of leased lines $347,500. (V. 38, p. 114,635; V.
in perpetuity to the
and second mortgage bonds filed
of State of Vermont on April 24,
208 ; V. 40, p. 269.)
Corning Cowanesque Sc Antrim.—Owns from Corning, N. Y.,
to Antrim, Pa., 53 miles; branch, Lawrenceville to Harrison Valley,
Pa., 32; total operated, 85 miles.
Consolidation (January, 1873)
of the Blossburg A Corning RR.. and the Wellsboro RR. June 1, 1874,
the Cowanesque Valley RR. was absorbed. These lines are leased to and
39. p.
Co., together with 7 miles owned.
6 per cent on common stock and 7
per cent on preferred stock; dividends paid quarterly, March 31, Ac.
Stock—common, $1,500,000, and preferred, $500,000. The ooal line of
Phila. A Reading and N. Y. Central is over the road of this company,
which jointly guarantees the bonds of the Jersey Shore Pine Creek A
Buffalo road. Earnings in 1883-84, $591,627; net, $171,75i; rental
paid C. C. A A. RR., $150,000; surplus to lessee, $21,757; iu 1883, loss
t<> lessee. $26,818.
George J. Magee, Frost., Watkins, N. Y.
Cumberland Sc Pennsylvania. -0 vns from Cumberland, Md.,
to Piedmont, Md., and several branches, 55 miles.
It is owned and
operated by Consolidation Coal Co., which guarantees second mortgage
Cumberland Valley.—Owns from Harrisburg, Pa., to Potomac
River, Md., 82 miles; leased—Martinsburg A Potomac RR., 12 miles;
Dillsburg A Mechanicsburg RR., 8 miles; Southern Pennsylvania RR.,
21 miles; controlled, Mont Alto RR., 18 miles; total controlled and
operated, 141 miles. Owns or leases several factory roads, in all about
43 miles. The stock is owned in large part by Pennsylvania RR. Co.
Large advances have been imwie to branch roads.
Operations and
earnings on the main line for four years past were as follows:
Net
Freight (ton)
Gross
/—Div. p. ct.—
Years. 1
Miles.
Mileage.
Earniugs. Earnings. Pref. Com.
82
18,364,654 $622,538 $220,429
10
10
82
229,452
21,673,434
689.305
10
10
82
23,557.701
793,063
223,044
10
10
213,338
10
1884
82
768,332
10
Danbury Sc Norwalk.—Owns from Danbury, Conn., to Wilson,
PL, South Norwalk, Conn., 26*3 miles; branches to Ridgefield and
Hawley ville, together 10 miles; total operated, 36 ^ miles. Dividends
have been irregular. Operations and earnings for three years past were:
operated by tne Fall Brook Coal
Rental paid—6 per cent on bonds,
STOCKS
.RAILROAD
April, 1885. |
immediate notice of
Subscribers will confer a great favor by giving
37
discovered in these Tables.
any error
Bands—Princi¬
INTEREST OR DIVIDENDS.
DESCRIPTION.
For
BONDS
AND
Miles
explanation of column headings, Ac., see
on first page of tables.
Date
of
of
Road. Bonds.
notes!
Size, oiPar
!
Value, j
Amount
Rate per¬
cent.
Outstanding
Where
When
pal,^When Due.
Stocks— Last
Dividend.
Payable, and by
Whom.
Payable
!
•
Danbury d Norwalk—(Continued)—
RBHC
Consolidated mortgage
General mortgage
Danv.Olney <& O.Riv.—1st (for$1,000,000) cp.or reg.
.
36%
100
155
141
141
Dayton <& iron ton—First mortgage, gold
Dayton d Michigan—Com. stock (3*2 guar.C.H.AD.)
Preferred stock, (8 percent, guar. C. H. A D.) —
3d mortgage
Consol, mortgage, guar,
32
Dayton d Union—1st mortgage
Income mortgage bonds.
Dayton d Western—1st M., guar. L. M. andC. A X.
41
7
Delaware—Stock
Mortgage bonds, convertible, guar. P. W. A B—|
Delaware d Bound Brook—Stock, guaranteed
i
1st mortgage
2d mortgage debenture
1880
100 1
500 Ac.
1585
1,000
50
50 i
1871
1869
1881
1879
1879
1864
142
142
by C. H. A D
$....
1380
1883
=
85
85
31
27
_
1,000 i
1.000
1,000
1,000
1,000
25
•
1,000
1875
*
1875
....
....
50
1877
1872
I860
1879
1st mort., gold, sinking fund
1st consol, mortgage ($15,000 per mile)
General rnortg., convertible (for $50.000,000)
Car trusts (mature 10 per cent yearly)
!
!
i
;
•
_
,
....
•
•
Phila.,Ouar.T.A SD.Co.
6
2
M. A N.
Philadelphia.
i 26,200,000
I
3.074,000
600,000
7
i
400,000
250,000
4
4
4
4
100
-
187C
•500 Arc. i
1880
1883
500
Ac.i
1,000
i
....
i
*
i
i
400,U00
(0
33,000,000
6,382,500
19,740,500
2,500,000
3,604.000
!
July 1, 1895
Feb.
Philadelphia.
N. Y.. 26 Exchange PI.
do
do
M. A S.
J. A D.
do
do
J. A J.
April 20, 1885
Sept. 1. 1907
June, 1892
1890
1899
U93
1896
....
....
....
Jan. 14, 1882
Nov. 1, 1900
Jan. 1, 1910
Oct. 1, 1913
10 p. c. yearly.
1%
j
18. 1885
May, 1905
Q.-J.
7
200,000
•
After 1910
Jan. 1, 1905
Jan. 2, 1885
N.Y., Bank of America.
Dover, Co.’s Office.
Phil., Fid. I.T.A.S.D. Co.
F. A A.
....
....
do
do
N.Y.. Am.Exck.Nat Bk.
Q.-F.
1, 1910
1, 1925
1, 1884
Jan, 1885
Oct., 1888
Jan. 1, 1911
Dec. 1, 1909
do
do
7
;
295
All.
.
Cincinnati, C. H.A D.Co.
N. Y., Winslow, L. AC’o.t
1,500,000
192,000
i
1,000
1873
....
—
....
351,000
2,350,000
225,000
173,000
495,000
1.515.338
650,000
Jan.
Jan.
Oct.
Boston.
Boston, Agency.
O
i
bonds, reg
;
Delaware Lackawanna d Western—Stock
j 886
288
Consol, mort., on roads A equipm’t, ($10,000,000)
Plain bonds (not mortgage)
|
47
Del. Maryland <J‘; Fa.—June. A Breakwater—1st M.j
47
June A Breakwater. *2d mortgage
j
20
Breakwater A Frankford, 1st mortgage, reg
;
36
Worcester Railroad, 1st mortgage, coupon
;
Denver d New Orleans— 1st mortgage.
j
Denver d Rio Grande—Stock
j 1,679
5801,000
1,300,000
2,402,573
1,211,250
1920
1925
Y., CentralTiust Co.
Y., Cent. Trust Co.
1,692,000
....
•
N.
N.
J. A J.
6
A. A O.
5
J. A J.
7
6 g. J. A J.
1-66 A. A O.
2
Q.-J.
7
A. A O.
5
J. A J.
J. A D.
7
J. A D.
6
J. A J.
6 & 7
3
J. A J.
J. A J.
6
$100,000
150,000
7 g.
M. A N. N.
7
5
J.
do
do
J.
A
Y., Company's Otfice.
A. A O.
do
do
do
do
8, 7 A 6
t
!
Miles.
Years.
1881-82.
1882-83
1383-84
..
..
..
36*2
36^
36i£
Passenger
Mileage.
3,698,360
3,672.023
Gross
Freight (ton)
Earnings.
Mileage.
1,330.145
$200,993
1,588.330
211,734
211,658
Net
Earnings.
$72,990
61,684
85,719
Div.
p.c.
5
2%
212
Danville Olney Ac Ohio River.—This road is projected from Dan
ville, III., to Olney, and to the Ohio River, 213 miles, of which 110 miles
Danville to Olney are in operation; also 20 miles of Chicago A Eastern
Illinois leased.
Bonds sold in 1881 at par, with $500 stock given with
each $1,000 bond.
Stock issued, $1,519,400. In Nov., 1882, company
became embarrassed and receiver appointed.
Receiver’s certificates,
$500,000, 7s. For plans of reorganization, Ac.. Ac., see references
below to the Chronicle. (V. 38, p. 60,177, 379.>
Dayton A: Irontou. — Road from Dayton to Ircuton, 155 miles.
This company was organized in 1884 as successor to the Southeastern
Division of the Toledo Cm. A St. Louis RR., sold in foreclosure June 26,
1884. The narrow gauge is changed to stnndaid, and the total author¬
ized issue of bonds is $1,70a,000. including $400,000 reserved to pay.
old claims. Preferred stock is $2,600.000; common stock, $
Dayton A Michigan.—Owns from Dayton, O., to Toledo, O., 141
Leased May 1, 1863, in perpetuity to the Cincinnati Hamilton A
miles.
Dayton.
Lease amended January 23, 1870. The rental is the interest
and sinking fund of debt, and 8 per ceut on preferred stock and 3^ per
cent on $1,010,000 common. Of the common stock $1,010,000 only is
guaranteed 3^ by C. II. & D. Profit to lessee in 1883-84, $161,990;
1882-83, $201,*251
The lessees hold $1,398,100 of the common stock.
Dayton A Union.—Owns from Dodson, Ohio, to Union City, Lid.,
32 miles; leased Dayton to Dodson, 15 miles; total opeiated, 17 miles.
The Greenville & Miami RR. was sold out Oct. 30, 1862. md re-organ¬
ized as now in Feb, 1863. Operated by trustees since December, 1871.
Capital stock, $86,300. In 1881 gross earnings were $154,761; net,
$26,251. In 1882-3 gross earnings, $144,241; net, f37.523.
Dayton A Western.—Owns from Dayton, O., to State Line, Iml.,
37 nines.
Leased in perpetuity from Jan. 1, 1865, to Little
and carried with that road in the general lease to the P. C. A St. L.
lessees are virtual owners and are answerable for all obligations.
Miami,
The
Delaware.—Owns from Delaware Junction (P. W. A B.), Del., to
(Md. Line), 84 miles; branches, 16 miles; total operated, 100
miles, less tw7o branches (15 miles) operated by the Dorchester &
Delaware and Queen Auue A K. railroads. The Delaware Railroad was
Delmar
opened 1855-60, and is leased for 21 years from 1876 to the P. W. A B.
Co.; rental 30 per cent of gross earnings, but stock must have 6 per
cent. Gross earnings 1382-83, $614,606; net, $184,382 ; 1883-84, gross,
$637,573; net, $191,272 ; int. and div’ds.$130,590; surplus, $60,681
of
Delaware A Bound Brook.—Owns from Bound Brook (Cent,
New Jersey) to Delaware River. 27 miles; branch, main line to
Trenton, 4 miles; total operated, 31 miles. In connection with Central
of New Jersey and North Pennsylvania forms a line between New
York and Philadelphia.
In May, 1879, the property was leased for
990 years to the Philadelphia & Reading Railroad Company—ttie lessee
paying interest and 8 per cent on stock after May, 1883. Gross earnings
m 1882, $693,525; net, $326,33 4.
In 1883. gross, $720,654; net, $356,544.
In 1884, gross, $729,157; net. $315,446; rental, $257,880; net
profit to lessee, $57,566.
The following is a synopsis irom the company’s income account for
four years; the operating expenses include amounts spent for better¬
ments :w$385,033 in 1884, $1,072,816 in 1883, and $931,701 in 1882.
Delaware Lackawauna A Western.—This company owns and
operates under lease »n extended system of roads in. New York, Penn¬
1881.
1882.
1883.
1834.
Gross rec’ts. all sources
$
'
$
$
$
27,396,526 27.006,267 32,319.606 31,311,992
Operating expenses
Net receipts
19,632.602 20.163.078 24,165.864 23.393.180
7.763.864 6,843, L»9
8,653,742 7,918,812f
INCOME
Net receipts
Interest and rentals....
Balance, surplus
7,763,864
3,558 494
4.20).a?0
1,768.500
Dividends
Rate of dividends
2.136,870
GENERAL HALANCE
4 •
equip.
6,843,189
3.620.708
3,222,48!
2.096.000
Ojii
Bulauco after divid’ds.
AssetsRR. buildings,
ACCOUNT.
_8
1.120.481
AT CLOSE OF
1881.
$
3,653,742
4,946,943
7,918,813
5,113,322
3,706,799
2.805.49CT
2,096,000
2,096,000
r 8
8
1,610,799
709,190
EACH FISCAL YE \ K.
1832.
$
18-<3.
$
1384.
$
m’t coal lands, Ac-..
StksAb Is .own’d,cost
Net cash A cur. acc’ts
Mat rials, fuel, Ac...
30,873,357
0.265,521
*769,469
32,072,860
5.763,146
*377.851
33,089,3 86
6,503.851
*147,987
*527,121
1,121,850
1,342,820
1.265,810
1,049,712
Total
Liabilities—
Stock
Fun led debt
Balances
39,030,197
39,556.677
41.007,034
41,276,965
26,200,000
4.044,900
1.200, (00
26.200.000
4,044,900
600,000
26.200.000
4.014.900
439,560
26,200,000
4,044,900
7,535.297
3.711.777
10,322.574
11,032.065
Total liabilities
39,030.197 39.556,677
*
Net balance between liabilities and assets.
41,097,034
41,276,965
Surplus account
34,250,418
5,449,713
—(V. 33, p. 29, 259,261, 331,705; V. 39,p. 587; V. 40, p. 151,241,267.)
Delaware Maryland A Virginia,—Consolidation June 1, 1833,
of the Junction A Breakwater, the Breakwater Ac Frankford and the
Worcester railroads.
Road extends from Harrington to Lewes, Del, 40
miles, and from Georgetown to Franklin City, Va., 55 miles; branch to
Rohoboth, Del., 5 miles; total. 109 miles. Gross earnings iu 1883-4,
$174,611; net, $37,102.
Denver A New Orleans,—Projected from Denver, via Pueblo to
the Canadian River, 350 miles, and in 1882, Denver to Pueblo. 120 miles,
and 13 miles branches, had been completed: Built by a Construction
Company. See circular in V. 35. p. 601. Iu 1883 the Construction Co.
became emharrased and $2,236,000 bonds aud $2,540,000 stock pledged
were sold by the Mercantile Trust Co. on Sept. 20.
Jno. Evans, Presi¬
dent, Denver. (V. 39, p. 522 ; V. 40, p. 28.)
Denver A Bio Grande (3 feet.).—Owns a line from Denver
City, Colorado, via Pueblo, Salida, Gunnison, Montrose and Grand
Junction, to the western boundary of Colorado, where it oonnect*
with the Denver A Rio Grande Western, to Salt Lake City and Ogden,
making the distance from Denver to Ogden 771 miles, and from Pueblo
to Ogden 651 miles.
Branches extend to Leadville, Dillon, Red Cliff,
Crested Butte, Silver Cliff, Chaffee and Hot Springs; also from Pueblo to
Silverton, via Cuehara, Alamosa and Durango, with branches to El Moro,
Espanola, Del Norte and Wagon Wheel Gap; total operated Jan. 1,1885,
1,317 miles.
The trust deed of the consolidated mortgage is to Louis H. Meyer and
sylvania and New Jersey, which requires.a map to show the strength of John A. Stewart, of New York, as trustees, and the bonds were issued at
its location clearly. Owns from Delaware River (N. J. line) to New $15,000 per mile. The general mort. of 1883 was issued for an authorized
York State line. 115 miles; branches—Scranton to Northumberland, amount of $50,000,000, and enough reserved to retire all prior bonds.
In 1884, with a largo decrease in earnings, the company became em¬
80 miles; Greenville to Winton, Pa., 8 miles; to Storrs, 3 miles; Junction
to Keyser Valley, Pa., 5 miles; loused lines in New York—N. Y. Lack. A barrassed and default was made on the consolidated mortgage interest
Western RR., 214 miles; Cayuga A Susquehanna
RR., 31 miles; due July 1, 1884, anil in July W. S. Jackson was appointed receiver.
Greene RR. 8 miles; Oswego &. Syracuse Railroad, 35 miles; Utica In November, 1884, default was made on the 1st mortgage bonds.
Tbe plan of reorganization, as first suggested, was commented on in
Chenango A Susquehanna Valley RR., 97 miles; Valley RR., 12 miles;
controlled and operated—Syracuse Binghamton & New York, 81 miles; tbe Chronicle, V. 39, p. 620, and tbe proposal is made to foreclose under
the consol, mortgage, issue new bonds to tbe holders, and to assess tbe
leased liues in New Jersey—Chester RR., 10 miles; Morris & Essex, 118
miles; Newark & Bloomfield, 4 miles; Warren RR., 18 miles; Sussex, stock $8 per share. The plan was given more in detail in V. 40, p. 480;
30miles; Passaic & Del., 14; total operated, 886 miles; the Rome & the old 1st mortgage bonds are left untouched (as they ought to be)
Clinton, 13 miles, and the Utica Clinton A Binghampton, 31 miles, were unless the holders consent to reduce interest to a lower rate.
The authorized stock and bonds of the new oompany would stand as
surrendered April, 1883.
follows: $6,382,500 old first mort bonds; $30,000,000 first mort. consol,
In 1882 tbe important connection to Buffalo, the N. Y. Lack. A West,
gold bonds, 4 per cent; $25,500,000 5 per cent pref. stock, non-cunmlawas opened, and the road was leased by this company. The Lackawanna
tive with voting power; $38,000,000 common stock, with voting power.
& Bioomsburg was consolidated with this company June 19, 1873.
Such reductions of the requirements of preferred stock as may be
The Delaware Lackawauna & Western management has furnished little
information concerning its earnings or finances, no annual reports possible, either from some of tbe contingencies of the plan, or
from any change in the settlements or from any other causes, shall
in pamphlet or monthly statements of earnings having been issued. The
be permanent, and no additional issue of preferred stock shall be made
road was operated mainly as a coal carrier and distributor till 1882,
when the line from Binghamton to Buftalo was built and leased to the by the new company, except by consent of the majority of each of both
Delaware Lackawanna & Western, and the company entered the field as of the common and preferred stock outstanding. The total reduction in
amount of new preferred stock may amount to $2,526,500.
a competitor of the trunk lines between New York and Buffalo.
Any part of the $30,090,000 new consolidated bonds remaining
The Delaware Lackawanna A Westein formerly paid 10 per cent on its
stock, but its numerous railroad leases became onerous, and in the dull unused after the reorganization of the company shall be canceled.
The proceeds of assessments upon the old stock and general mortgage
times. 1876 to 1880, no dividends were paid; in 1880 3 per cent was
bonds are at once to pass Into the hands of special trustees, with strict
paid; in 1881. 6%; in 1882, 1883, and 1884, 8.
Prices of stock yearly since 1870 have been: 1871,102® lll1^; 1872,
provisions for their application to payment of existing floating debt,
91® 112ia; 1873, 79^® 106; 1874,99311238; 1875, 106^3123; 1876, and of the expenses of foreclosure and reorganization, to betterm'.fcts
64*2® 1203s; 1877, 3078®77; 1878, 41 ^Ol^; 1879, 43®91; 1880 68^, and to equipment, as directed respectively by the Committee of Reor
The Committee o
fcllO^; 1881, 1073131; 1882, llO^lSO!*; 1883, lll^m^; 1881, ganization and by the reorganized company.
Reorganization is appointed with power to make the best posslbl
8B%3133is; in 1855, to April 18, 3259® 109%.
Subscribers will confer a great favor
Date
of
of
Road. Bonds
notes
368
274
150
Denv.d R.Or. West.—1st, g. ($16,000 p.m.),cp.or reg.
Denver South Park <t Pacific—stock
1st mortgage, gold, sinking fund
Consol, mort. gold ($17,000 per mile)
Denver West. d Pac— 1stM., gold ($30,000 perm.).
Des Moines <& Ft. Dodge—1st mort., coup
1st mortgage, income
Mortgage on extension
Certificates secured on lands
Des Moines Osceola <& Southern—1st M. ($6,000p.m.)
Detroit Grand Haven <1 Milwaukee—Stock
1st equipment mortgage, guar
Consolidated mortgage, guar
Sectional mortgage (Detroit & Pontiac
Detroit Hillsdale & S. IT.—Stock
Detroit Lansing d North— Stock, common
Preferred stock
....
88
88
56
RR.)
gold, land grant
Valley & Pittsburg—1st mort., gold
1,000
672,000
1,000
1,000
1,000
1,000
*
1878
1878
1854
63
143
43
....
....
'
1,000
$6,900,000
6,142,800
1,800,000
2,812,000
1,000.000
1,200,000
1,200,000
discovered In tbese Tables.
90
90
90
200 &c.
....
100
100
500 Ac.
1,000
....
....
1877
1869
1883
1882
1881
1881
1879
Bonds—Princi¬
1864
1888
1881
1870
1870
1870
7
8
6
6
7
7
6 g.
2
7
5
6 g.
1,500,000
630,000
5,000,000
586,000
1,000
....
3
3^
"
100
500 &c.
295,000
18,000 p.m.
7,000 p.m.
....
1,000
Stocks—Last
Dividend.
Y., Co.’s Agency.
New York.
M.
J.
J.
J.
J.
J.
& N. N.Y., LondonA Frankf’t
N. Y.. Co.’s Agency.
& J.
New Yorx.
& J.
& J. N. Y., Morton, B. &0o.
do *
do
& J.
do
do
& J.
J.
& J.
Sept. 1, 1911
Aug. 15,1880
May 1, 1905
Jan. 1, 1921
Jan. 1, 1911
June 1, 1905
Juno 1, 1905
June 1, 1905
1896
New York & London.
do
do
1918
1918
N.Y.,Canad’n B. of Com.
Feb. 15, 1886
July 5, 1884
Aug. 15, 1884
J. N. Y., Farm. L. & Tr. Co
Boston.
A.
do
A.
J. Boston, 2d Nat. Bank.
do
do
J.
do
do
J.
O. N. Y., Metrop. Nat. Bk.
do
do
O.
J.
F.
F.
J.
I.
J.
A.
A.
&
&
&
&
&
&
&
&
j.
& J. N.Y.,M.K. Jesup,P.& Co.
A. & O. N.Y.,M.K. Jesup, P. A
J. & J. N.Y., John Paton &
M. & N. N.
Co.
Co.
Y., Central Trust Co.
Feb. 16, 1885
Jan. 1, 1907
July 1, 1889
July 1, 1913
Oct, 1, 1921
Oct. 1, 1911
Oct. 1, 1921
July 1. 1919
Apr. 16, 1885
July, 1894
1888
1, 1911
May
'
J.
7g.
2,000,000
1,000,000
1,000
1,000
1,000
Payable, and by
(?)
6
8
2
4,560,000
1,000
1,000
N.
S.
A. A O.
A. & O.
F. & A.
6
476,000
2,280,000
pal,When Due.
Whom.
(?)
770.000
1,000
Where
....
7
6 g.
7 g.
6
6
6
7
7
2,487,000
1,000
M. &
6 g.
250,000
1,350,000
1,825,600
2,510,000
1,000
When
Payable
4
1,500,000
2,000,000
3,200,000
1,000
....
Rate per
Cent.
99,000
879,000
*
50
65
260
260
222
59
32
152
at pleasure)..
Outstanding
100
1880
-
Notes to retire 1st inortg. (redeem
Duluth d Winnipeg— 1st mortgage,
2d mortgage, income
Amount
Par
Value.
$1,000
1876
1880
1881
1874
1874
1881
....
(payable at 105)
Size, or
....
300
189
189
189
1st mort., coup., may be reg—
Saginaw & West, mort., guar, ($15,000 per mile)..
Detroit Mackinac d Marquette—l at mortgage
Land grant bonds (income)
Income bonds
1881
....
1st mortgage
Ionia & Lansing,
Dunkirk Alleyh.
2d mortgage
3d mortgage
[VOL. XL,
by giving Immediate notice of any error
Miles
explanation of column headings, &c., see
on first page of tables.
Dubuque d Dak.—1st M., gold. gu.
Dubuque d Sioux Oily—Stock
1st mortgage, 2d division
BONDS.
AND
INTEREST OR DIVIDENDS.
DESCRIPTION.
For
STOCKS
RAILROAD
38
200,000
& D. N.Y., N.Y. Cent. &
do
do
do
do
Hud.
A. & O.
A. & O.
7
7
June, 1890
1, 1890
1. 1890
Oct.
Oct.
first mortgage bonds and the equip¬ gross, $347,168; net, $120,286. In 1883 gross, $311,935; net,
changes in the details of this plan as $102,652. In 1884 gross earnings were $354,029, against $341,934
net, $101,660, against $94,798. (V. 39, p. 732.)
they consider to be for the best interest of all parties.
Des Moines Osceola Sc Southern.—Projected from Des Moines ,
The maximum fixed charges, if interest on first mortgage bonds is not
la., to Kansas City, Mo., 300 miles, of which 113 miles, D.*s Moines to
reduced, will be as follows:
Seven per cent on $6,382,500 first mortgage bonds
$446,775 Cainsville, Mo., is built. Net earnings, 1883, $47,520. In April, 1885, a
Four per cent on $23,340,500 4 per cent consols.. 933,620 receiver was appoint 'd. Stock issued. $500,000. $7,000 p. m ; bonds,
$6,000 p. m. In Aug.,’84 consol, with Wis. Ia. & Neb. RR. (V. 40, p. 454.)
Total
$1,380,395
Detroit Grand Haven Sc Milwaukee.—Owns from Detroit,
TftX68
Mich., to Grand Haven, Mich., 189 miles. This is a reorganization of
The plan in the interest of the Car Trust holders was in V. 40, p 453.
the Detroit & Milwaukee which was sold in foreclosure Sept., 1878.
A
Earnings, expenses and net income for four years were as follows:
sutficient amount of first equipment mortgage bonds is reserved to
1881.
1882.
1883.
1884.
retire Detroit & P. bonds on maturity. The bonds were guaranteed by
Miles oper. Dec. 31...
1,067
1,679
1,282
1,317
the Gt. Western of Canada. Gross earnings in 1884, $1,196,929; net,
Earnings—
$
$
$
$
$313,321; in 1882 gross, $1,348,565; net. $339,453; in 1883, gross,
Passenger
1,563,632
1,589,558 1,472,503
......
$1,376,461; net, $379,767; in 1834, gross, $1,254,391; net, $333,626.
settlement with the holders of the
bonds, and to make such
ment
4,332,150
348,998
4,412,185
403,237
5,351,912
537,131
earnings 6,244,780
3,620,030
6,404,980
3,821,123
7,361,546
4,743,111
2,624,750
57*97
eam’s.
2,583,857
59*66
2,618,435
64*43
5,552,103
3,758,530
1,793,573
67*70
1881.
1892.
1883.
1884.
$
2,624,750
14
$
2,583,857
36,771
$
2,618,435
114,531
$
1,793,573
Total income
2,624,764
2,620,628
2,732,966
Interest on debt
1,199,541
1,602.443
2,036,813
317,752
246,234
Freight
Mail, express, &c
Total gross
Operating expenses
Net earnings
P. o. of exp. to
Receipts—
earnings
Other receipts
Net
..
INCOME ACCOUNT.
Ren’l of D.R.G.W. RR
Taxes and miscellan’s
169,437
Dividends
(6) 914,100
298,306
Total disbursements.. 2,283,078
1,900,749
Balance, surplus ...
341,686
719,879
-(V. 38, p. 29.215,229,295. 454, 479, 508,
-(V. 38, p. 477, 618 )
225,213
706; V. 39, p. 22, 47,
474, 553, 580, 620; V. 40, p. 181, 453, 480.)
Denver Sc Rio Grande Western (narrow gauge).—The mort¬
gage covers lines in Utah Territory of about 469 miles m all. Com¬
pleted 368 miles, as follows: From Salt Lake City to Pleasant Val¬
ley coal mines, 106 miles; Bingham Junction to Alta, 18 miles; Bing¬
ham Junction to Bingham, 16 miles; Clear Creek to P. V. Junction, 14
miles; P. V. Junction to Colorado border, 176 miles; from Salt Lake
City to Ogden and branches, 37 miles. The stock by charter is $48,000,000; issued on 469 miles $7,500,000. The road was leased for
30 years to the Denver & Rio Grande, at 40 per cent of gross earn¬
ings, with a guaranty of interest by the lessee on $7,500,000 1st mort¬
gage bonds so far as issued. The appointment of a receiver was made
fpr the lessee, and in August, 1884, W. H. Bancroft was appointed re¬
ceiver of the D. & R. G. W., and after July 12, 1884, the lease was
ignored and the roads operated under mutual agreements. For the six
months (less 12 days) gross earnings were $490,396 and net earnings
$96,647. (V. 38, p. 454, 571, 762; V. 39, p. 21, 128, 157; V, 40, p. 181.)
Denver South Park Sc Pacific (3 ft.)—(See Map of Union
Pacific).- Denver, Col., to Nathrop, 137 miles; Nathrop to Gunnison, 65
miles; Gunnison to Mount Carbon, 17 miles; Garos to London Junction,
15 miles; Como to Keystone, 35 miles; Bear Creek Junction to Morrison,
10 miles; Dickey to Leadville, 34 miles; Como to Mines, 4 miles;
Sohwanders to Buena Vista, 4 miles; total, 321 miles. First mortgage
bonds issued at the rate of $12,000 per mile of finished road. In uct..
1880, the consol, mortgage was made for $15,000,000, to be at $17,000
per mile on whole road, old and new, less the amount of 1st mortgage
Stock owned by Union Pacific, $6,042,500. In 1884 gross
on the old.
earnings, $1,194,069; deficit on operations, $296,991; deficit under
In 1883 gross earnings, $1,557,020; net,
interest, Ac., $549,193.
$48,749; deficit under interest, &c., $166,657.
Denver Western Sc Pacific.—Denver to Longmont, Col., 23 miles.
For $3,060 in cash the company gave $3,000 in 1st mortgage bonds and
$1,500 in stock. Stock is $1,000,000. Union Pacific owns $762,500 of
stock and $694,000 bonds. In July, 1884, Mr. II. P. Bennett, of Denver,
appointed receiver.
Des Moines Sc Fort Dodge.—Owns from Dcs Moines to Fort
Dodge. lew a, 87 miles, with an extension 56 miles to Ruthven, con¬
necting with Chicago Mil. & St. Paul. First 87 miles originally a div¬
ision of the Des Moines Valley RR., built in 1870 and sold out in
1873. Common stock, $4,283,000; preferred, $758,280. The report
for 1883
had the following remarks:
“In all the litigation with
which this road was surrounded when it was foreclosed eleven years
ago, and in all the cases that necessaiily arise in the management and
building of a railroad since that time, this company has never lost
61,128, 157, 208. 264, 296,
Four coupons,
Jan. 1885 to July 1886 inclusive, will be
paid one-half
one-half in the company’s notes due Jan. 1,1888,
iug 6 per cent interest.
Lands owned, about 11,500 acres, and balance due on land
$99,849. Gross earnings in 1881, $401,532; net, $172,543.
in cash and
holders. In Aug., 1881, leased in perpetuity to the Lake
Southern Co. for $40,500 per year (3 per cent) on stock
and $54,000 per year (4 p. ct.) afterward.
Detroit
Lansing
and bear
oontrccts,
In 1882
Sc
Northern.—Owns from
Shore & Mich.
for two years,
Grand
Trunk
June., Mich., to Howard City, Mich., 157 miles; branches—Stanton June,
to Big Rapids, Mich., 63 miles; Belding Branch, l1^ miles; leased, Grand
Trunk June, to
Detroit, 3 miles; Lansing to No. Lansing,
1 mile; St.
Louis to Alma and Lake View, 36 miles; total operated, 261 miles. A
consolidation, Apl.ll, 1871, of the Detroit Howell & Lansing, the Ionia
& Lansing and the Ionia Stanton & Northern railroads, under the name
of Detroit Lansing & Lake Michigan RR., which was sold in foreclosure
Dec. 14,1876, and new stock issued as above.
In July, 1883, leased
the Saginaw & Western and endorsed the bonds. (See V. 36, p. 674.)
The annual report for 1884, in V. 40, p. 452, had the following:
1881.
1882.
1884.
1883.
Miles of road
2,600,799
132.167
a case.
Detroit Hillsdale Sc Southwestern.—Owns from Ypsilanti,
Mich., to Bankers, Mich., 65 miles. The Det. H. & Ind. road was sold
in foreclosure Dec. 28, 1874, and this company organized by the bond¬
oper’d.
Total gross earnings.
Net earnings
Interest
Total income....
Disbursements—
Interest on debt
225
260
225
261
$1,377,698 $1,597,142 $1,596,414 $1,328,592
$443,269
$461,082 .$537,874
$463,322
10,425
4,965
$446,912
$471,507
$542,839
$463,322
$235,527
175,230
$233,975
175,230
$248,335
$265,894
230,465
3,643
.
Dividends*.,
284,995
$533,330
$496,359
$410,757
$409,205
$9,509 def. $33,037
$36,155
$62,302
In 1881 and 1882 7 p. ct. on common; in 1883, 6 on com. and 7 on
pref.; in 1884. 3 on com. and 7 on pref.
—(V. 38, p. 422 ; V. 40, p. 452.)
Total disbursem’ts,
Balance, surplus.....
*
Detroit Macklnae Sc
Marquette.—Owns from Straits of Mack¬
Marquette, 152 miles, and extension west to Ishpening, 17
miles, known as Marq. &. West. RR; branch projected to Sault St. Marie,
48 miles. This road is intended to form, in connection with others
inac t6
already built,
a
line along the south shore of Lake Superior. The stock
in $100 shares, of which
increased in 1883 to“ $10,000,000,
$4,750,000 was outstanding Deo. 3L, 1883.
was
The land bonds receive 25
cent of net proceeds of land sales as their yearly income.
In
October, 1884, default was made in payment of interest, but bonds
were mostly held by the contractors, and some agreement was made
with them. Gross earnings in 1883, $239,789; net, $25,328. James
McMillan, President. (V. 39, p. 381, 409.)
Dubuque Sc Dakota.—Owns fromWaverly to Hampton, 41 miles,
and from Sumner, la., to Waverly, Ia, 23 miles. Built on the old grading
of the Iowa Pacific. The Dubuque & Sioux City Co. guarantees the bonds
issued for construction to the extent of $10,000 per mile. Bonds may be
paid off at any time at 105.
Pref. stock $420,000 and ordinary stock
$159,500. Gross earnings in 1882, $81,958; net, $34,174. Gross in
1883, $75,115; net, $22,308.
Dubuque Sc Sioux: City—(See Map of Illinois Central).—Owns
from Dubuque, Iowa, to Iowa Falls, 143 miles.
The former Dubuque &
Pacitlc was foreclosed in 1860, and present company organized. Leased
to Illinois Central from Oct. 1, 1867, for 20 years, the lessees agreeing
to pay 35 per cent of gross earnings for ten years and 36 per cent for
next ten years, with privilege to make the lease perpetual at the latter
rate. Gross earnings in 1884, $922,303, against $1,092,024 in 1883.
In 1884 rental from lessee $292,373 ; other income, $31,638 ; total net,
$324,011; interest, &c., $62,666; dividend of 4 per cent, $499,976;
balance surplus, $61,369; total surplus Dec. 31, 1884, $L56,680. M. K.
Jesup, President, N. Y. City. (V. 38, p. 229, 332; V. 40, p. 240, 337.)
per
Duluth Sc Winnipeg.—Projected from Duluth to Manitoba
boundary line, 280 miles. Tne laud grant amounts to 1,800,000 acres,
which is subject to the first mortgage. The stock is $5,000,000.
W.
Spalding, President, Duluth.
Wm.
Dunkirk Allegheny Valley Sc Pittsburg. -Owns from Dun¬
kirk, N. Y., to Titusville, Pa., 91 miles. A consolidation of the Dunkirk
Warren A Pittsburg and Warren & Venango in 1872.
Is leased to N. Y .
KA1LJR0AD
April, 1885.J
STOCKS AND BONDS
99
Subscribers will confer a great favor by giving immediate notice of any error discovered In these Tables*
DESCRIPTION.
For
Miles
30
36
36
1,123
....
1.123
....
....
—
Ten.year debentures
Eastern (Mass.)—Stock
95
....
....
285
....
Mortgage funding certificates
mortgage
Eel River—Stock
1st
....
....
(extended for 10 years)
Eastern (N. H.)—Stock
Eastern Shore (Md.)—1st
242
112
130
1884
.
.
.
1851
1876
16
38
1882
94
94
110, 1872
47
77
77
77
1860
....
mortgage
....
Elizabeth. Lex.dkBig Sandy—1st mortgt, cp, or reg..
Elmira Jeff, dk Canandaigua.—Stock.
Elmira dk Williamsport—Stock, common
Preferred stock
1st mortgage bonds.
Income bonds, 999 years to run
Erie dk Pittsburg—Stock
2d mortgage, convertible
....
....
....
....
100
81*»
1863
....
1865
1,000
....
1,000
1,000
....
1,000
....
1,000
100
50
50
1,000
500
50
100&C
A coal road, opened in 1874. The stock is $815,602.
In 1882-83
gross earnings were $90,842;
net, $2,385; 1881-82,
$139,260; net, $39,185.
East Pennsylvania.—Owns from Reading, Pa., to Allentown, Pa.,
gross,
it is leased for 999 years from May 1, 1869, to the Philadel¬
phia & Reading RR., at a rental of 6 per cent per annum on the stock
36 miles,
and interest
on
the bonds.
G. A. Nicolls, President, Reading.
East Tennessee Virginia Sc Georgia.—(See Map.)—The East
Tennessee Virginia & Georgia Railroad is composed of the following
lines, which were consolidated July 20, 1881, under the above title:
The East Tennessee Virginia & Georgia Railroad, the Macon & Bruns¬
wick RR., the Cin. & Ga. RR., the Knox. & Ohio RR., and the Alabama
Cent. RR., making a total of 1,098 miles June 30,1834, made upas fol¬
lows : Bristol to Chattanooga, Tenn., 242 m.; Morristown to Unaka, 44 m.;
Knoxville, Tenn., to Jellico, 66 m,; Cleveland to Selma, 264 m.; Selma to
Meridian^ 113 in.: Ooltewah to Cohutta, 11 in.: Rome, Ga., to Macon, 159
in.; Macon to Brunswick, 19u m.; Cochran to Hawkinsville, 10 m.
The company owns 1,080 miles of railroad and uses 18 miles more.
It
also operates under a lease for twenty years from July 1, 1879, the lines
of the Memphis & Charles RR. Co., from Chattanooga to Memphis, Tenn..
310 m., and the Florence and Somerville br’ches, 20 miles, in all 330 m.,
making a. total of 1,453 m. of owned and leased lines now in operation.
The lease of the Mem. & Char. RR. was an operating lease simply, and
various differences were settled by the acquisition or a majority of the
capital stock of the Mem. & C. Co. by parties controlling the E T.Va.&Ga.
Of the first, mortg. consol, bonds, there are held in trust by the Cent.
Trust Co. $7,403,000, to retire the same amount of the outstanding divis¬
ional and sectional bonds.
The $1,200,000 of debentures
due 1991 were taken at par hy members
of the board of directors and their friend^ to extinguish floating liabili¬
ties and are not secured by mortgage. See statement, V. 38, p. 706.
In January, 1885, default was made on the consol, mortgage interest,
receivers were appointed, and a plan for funding certain coupons was
proposed, viz.: That all interest falling due in 1835 and 1886 be funded
by the holders of consol, mortgage bonds, Cinn. & Ga. RR. 1st mort.
bonds and debenture bonds; to the two first-named, funded coupon
bOLds at 6 per cent are to be issued for the coupons so funded, and to
the debenture holders similar debenture bonds. See V. 40, p. 2 i.
The flsoal year ends June 30. Gross earnings from July 1, 1834, to
March 1,1885 (less six days), $2,728,563, against $2,947,365 in 1883.4;
net. $1,139,842, against $1,264,795.
The annual report for 1883-84 was
published in the Chronicle, V.
39, p. 520, and had the following:
INCOME ACCOUNT.
1882-83
Receipts—
Total gross earnings...
Net earnings
Disbursements—
Interest on debt
Interest on income bonds
Taxes
Miscellaneous
1833-84.
$3,776,784
$4,173,263
$1,393,082
$1,699,925
1,305,539
192,775
74,768
1,402,995
49,617
517
equipment and to new construction.
GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR.
Assets—
Railroad buildings, &c
Stocks and bonds owned, cost
Bills and accounts receivable
Rogers locomotive trust
Memphis & Charleston RR. coup, ace’t..
Cush on hand
Miscellaneous items
Profit and loss
Total assets
Liabilities—
Stock, common
1882-83.
1883-84.
$83,699,917
$86,454,246
* 9,865,771
1 7,573,756
266,6t5
265,496
115,000
1,116,455
89,968
55,163
183,519
282,363
21,589
999,515
$95,391,289
$95,598,074
$27,500,000
$27,500 000
Stock, preferred
Funded debt (see Supplement)
16,500,000
Income bonds
Car trust certificates and interest
16,500,000
Memphis & Charleston cash account
32,520,000
4')l ,127
Interest due
582,335
State of Georgia
All other dues and accounts
731,380
Total liabilities
16,500,000
33,526,' 00
16,500,000
564,211
630,680
566,447
377.i*83
$95,391,289
$95,598,074
Including $7,408,000 5 per ct. c» ns. b’ds held by Central Tr. C»., and
$1,475,215 Series “A” car trust, and $767,411 Co. b’ds& stock unissued,
i Includes $7,320,000 5 per cent consol, bonds held by Cent. Trust Co.
*
495,900
5 e.
5
6
7
6
6
4
6
6
7
6
3
6
95,000
1,000,000
2,000,000
1,000,000
1,200,000
4,997,600
194,400
13,432 920
492,500
2*4
5
1
7
6
3
450,000
2,792.800
140,000
3,500,000
500,000
500,000
500,000
1,000,000
570,000
1,998,400
91,800
2**
3*s
6
5
7
Stocks—Last
Dividend.
Payable, and by
whom.
July 1, 1903
15,1885
1, 1888
Jan.
Mar.
& J. N, Y., Central Trust Co. July 1, 1930
& J.
do
do
July 1, 1930
do
do
Oct.
Aug. 1, 1931
J. & J.
do
do
July 1, 1900
J. & J.
do
do
1885 to 1886
M. & N.
do
do
May 1, 1886
Jan. 1, 1887
J. & J.
do
do
J. & J.
do
do
July 1, 1918
do
do
J. & J.
July, 1928
do
do
1885-94
J. & D.
do
1885-94
do
J. & J.
Boston.
July 15.1873
M. & S.
Sept. 15,1886
Boston, Office.
Brtnlnn an ri T.nndnn
M & S
Sept., 1906
Dec. 15,1884
J. & D. Boston, by Treasurer.
J.
J.
....
Q.-M.
F.
M.
M.
M.
J.
J.
A.
1\
1900
Philadelphia.
by Treasurer.
Mcli.
Boston,
5,1884
«fe M.
&
&
&
<fe
&
&
S. N. Y., Mills Building.
S. Baltimore, N. Cent. RR.
N. Phila., Penn. R. R. Co.
do
do
J.
J.
do
do
0.
Q.-M.
do
do
N. Y., Union Trust
A. & O.
do
Mar.
1, 1902
Mar., 18 85
Nov. 1, 1884
Jan. 1, 1885
Jan. 1, 1910
Oct. 1, 2862
Mar.
Mar.
Co.
do
10, 1685
1, 1890
-(V. 33, p. 147, 261, 332, 619, 659, 678, 706; V. 39, p. 47, 168, 381,
409, 461, 493, 520, 606, 732; V. 40, p. 4, 29, 60, 151, 181, 363, 394.)
Eastern (Mass.)—Owns from-Boston, Mass., to
State Line, 41 miles; branches —Salem to Marblehead,
ley to Gloucester, 17 miles; Salisbury
to East Boston, 3^ miles; Peabody
to Lawrence, 20miles; others, 22 miles;
miles; Newburyport City RR., 3 miles;
New Hampshire
4miles; Bever¬
to Amesbury, 4 miles; Revere
to Wakefield, 8 miles; Salem
leased—Eastern RR. of N. H., 16
Portland Saco & Portsmouth, 51
miles; Portsmouth & Dover, 11 miles; Portsrn. Gt. Falls & Conway, 73
miles; Wolfeboro Railroad, 12 miles; total operated, 285 miles.
Tn March, 1883, a lease of this road to the Boston & Maine was voted
for fifty-five years, but in November, 1884, this lease was decided to bo
illegal in some respects, an1 a new one was negotiated for 54 years,
from Oct. 1, 1883, on the basis of combining the total earnings, payin*
all charges, and dividing the surplus income as follows : 1. To B. & M.
$630,000 (9 per cent on its stock); to Eastern. $100,000 for sinking
fund; to B. & M., $70,000; to Eastern, $336,000; balance to be speni
by lessee on both properties pro-rata. An analysis of provable result oi
this, on basis of earnings in 1884, was iu V. 40, p. 27. Mortgage notes
are $684,300, scoured by real estate.
Tbe last annual report for the
year ending Sept. 30, 1883, was puDlished in V. 37, p. 638. Operations
aud earniugs for three years past (ending Sept. 30) were as follows:
Passenger
Freight (ton)
Gross
Net
Years.
Miles.
Mileage.
Mileage.
Receipts.
Receipts.
282
93,871,712
68,479,129 $3,403,077 $1,110,109
285
100,003,605
75,641,226
3,584,506 1,273,676
285
108,497,155
77,659,654
3,571,594 1,264,003
-(V. 38,p.509; V. 39,p. 264,522, 580, 653, 680; V. 40, p. 27.)
Eastern (N. H.)— Owns from Portsmouth, N. H., to Seabrook
(Massachusetts State Line), 16 miles. It was formerly leased for 99
years to the Eastern (Mass.) Railroad, and a new lease was made from
Oct. 1,1878, for 60 years and two months at $22,500 per year, equal to
41a per cent per annum. Moody Currier, President, Manchester, N. H.
Eastern Shore (Md.)—Owned from Delmar to Crisfleld,
miles. The road was sold in foreclosure Feb. 19,1879, and in
Md., 38
1882
a
and prio r mortgage bonds ex¬
changed. Stock, $137,990Jcommon, and $324,600 preferred. In Jan.,
new
mortgage
was
issued at 5
1884. oontrol of the road
1882 gross
was
per cent,
purchased by Peun. RR. for $ 150,000. In
In 1883 gross earnings
earnings $81,010; net, $22,229.
$84,258; net, $20,826; interest paid, $20,000.
Philadelphia.
S. M. Felton, President,
(V. 38, p. 60.)
Eel Blver.—Owns from Losransport., Ind., to Butler, Ind., 94
miles. This was formerly the Detroit Eel River & Illinois Railroad,
sold under foreclosure July 6, 1877, aud reorganized under present
name Dec. 10,1877.
In August, 1879, it was leased to the Wabash. St.
Louis & Pacific Railroad for 99 years, at a rental of 3 per cent per
annum on the stock for two years, 4 per cent for three years, and 4^
per cent thereafter. Default by lessee on the rental was made in 1884.
Elizabethtown Lexington Sc Bis Sandy.—Road owned, 1883,
Big Sandy River (C. & O. Junction) to Ashland, 8 miles; Straits Creek
Junction to Lexington, 102 miles; leased—Ashland to Straits Creek
Junction, 22 miles; total operated, 132 miles. Charter permits exten¬
sion to Elizabethtown.
It is the connecting line of the
Ohio and controlled by the same parties. Authorized
Chesapeake &
capital of the
is $5,000,000, with a provision in the charter to increase it to
$10,000,000 to build the line from Lexington to Elizabethtown. Amount
issued, $3,508,776. In 1884, gross earnings were $762,627, against
$713,103; net, $253,052, against $214,327. In 1834, net earnings
$258,052; all fixed charges, $224,717. For two months from Jan. 1,
1885, gross earnings were $101,328 against $93,337in 1881; net, $28,137,
against $11,800. (V. 38, p. 202,359, 509,595 ; V. 39, p. 181, 264, 522 ;
V. 40, p. 61,427.)
Elmira Jefferson Sc Canandaigua. - Owns from Canandaigua,
N. Y., to Watkins, N. Y., 47 miles.
The road was foreclosed And
reorganized under present name Feb. 18,1859. It was leased to New
York & Erie for 20 years from Jan. 1,1859, and the lease transferred
to N. Cen. RR. in 1866 at a rental of $25,000 per year.
Lease termi¬
nated Jan., 1879, and road now operated at cost by North. Cent., which
company owns the whole stock. Gross earnings in year ending Sent. 30,
1383. $368,842; net, $92,729. In 1833-84, gross $312,317; ner, $50,154.
company
Total disbursements
$1,45?,612
$1,576,599
Balance
def. 183,517
sur.. 247,313
In the two years there were receipts in addition to above of $4,953,762 from sale of bonds and from other sources, which was applied to
the purchase of
3
7
27,500,000
16,500,000
14,674,000
2,650,000
16,500,000
3,123,000
311,000
147,000
pal,When Due.
J. & J. Philadelp’a, Co.’s Office.
J. & J. Phila., by P. & R. RR.
M. & S.
Phila., P. & R. office.
4
.
100
100 &e.
500 &c.
100
100 &c.
100
Central & Hudson River Co., but accounts are kept separate. Capital,
$1,300,00 . There is usually an annual deficit below the interest charge,
but the N. Y Central & Hudson River Co. hold $2,920,000 of the securi¬
ties. Gross earnings in 1883-84, $279,719; deficit of $21,200.
East Broad Top (Pa.)—Owns from Mount Union, Pa., to Roberts-
dale, Pa., 30 miles.
$500,000
1,709,550
18-243.
100 &c.
100
100
1.000
1,000
1,000
1,000
1,000
Rate per When Where
Cent.
Payable
Outstanding
50
1880
1880
1881
1870
’50-’56
1856
1872
1879
1883
....
Amount
$1,000
1858
Bonds—Princi¬
INTEREST * OR DIVIDENDS.
or
Par
Value.
....
....
2d mortgage to U. S. Government
Alabama Central, 1st mortgage, gold, coupon—
Cinn. & Georgia RR., 1st mortgage
Car trust bonds (A)
Essex RR.lst mort.
1873
stock. 1,123
Income bonds, gold
Old 1st mortgage sinking fund bonds
East Tenn. & Georgia ($92,000 are endorsed)
East Tennessee and Virginia (endorsed)
Size,
of
Road. Bonds
explanation of column headings, &c., see note8
on first page of tables.
East Broad Top.—1st mortgage, registered
East Pennsylvania—Stock
1st mortgage
East Tennessee Virginia dk Georgia—Common
Preferred stock (6 per cent)
Consol, mort., gold (for $22,000,000)
Consol, mort., “Divisional” bonds
Date
of
""Elmira
Sc
Williamsport.—Owns from Williamsport, Pa., to
Elmira, N. Y., 76 miles. This company was reorganized under the
present name Feb. 29,1860, and leased to the Northern Central Rail¬
way for 999 years from May 1,1863, at a rental of $151,500 per annum
since Jan. 1,1880. The dividends on the common stock are 5 per cent
and on the preferred 7 per cent. Gro s earniigs in 1832-3, $903,269 :
net, $309,010; s irplus to lessee, $136,918. Gross earnings in 1883-1,
$777,166: net$22B.3S3: snro'n < to lessee. $52.178.
-<*
Pa.Tto
Erie ATpTttsBnrg.—Gwusfrouii «ewCastTe,
Girard, Pa.,
82 miles; branch, Dock Junction to Erie Docks, 3 miles; leased—
Girard to Erie, 15 miles; total operated, 100 miles. Road opened in 1865It was leased to the Pennsylvania RR. for 999 years from March 1,
1870, at a rental of 7 per cent on stock and interest on tho b* ids,
and the leas? was transferred to the Pennsylvania Co. The lease has
been
quite unorolitable to the lessees; the deficiency paid by them in
1881
was
$233,522; in 1882, $207,651, and in 1883, $269,071
40
1
s
>'ow_A7}ja
>,
,Co^*
•V
'
Lebanon
oN
,
i
.Danville#
Biversii c
^-“#w *
RAILOD
STOCKS
s.
AND
of
f/
.
\
BONDS.
MAP OP THE
EAST
Alexandria?
I
xV
TENNESSEE,
VIRGINIA & GEORGIA
Jlolmesville^
•**»/
RAILROAD & CONNECTIONS.
[Vol.
XL.
RAILROAD
April, 1885.J
Subscribers will confer
a
Miles
For explanation of column headings, Ac., see notes
ilrst page
41
BONDS
AND
Tables.
great favor by giving Immediate notice of any error discovered In these
DESCRIPTION.
on
STOCKS
of tables.
Erie dc Pittsburg—(Continued)—
Consol, mort. free of State tax (for $4,500,000)...
Equipment bonds
.*
European66No.American—Stock, guar. 5 per ct
Evansville <£ Indianapolis—1st mort. (guar.), gold..
Evansville <£• T. Haute—Stock
1st
1st
1st
1st
mortgage, Evansv. 6c Ill., sink, fund
mort.Evans. A Cr..sink.fund,(Evansv. to T.H.)
consol, mort., gold (for $3,000,000)
mort.. Mt Vernon Branch, gold (for $375,000)
Evayisville Terre H. <£• Chic— 1stM., gold,int.guar..
2d mortgage, gold
Fargo & southern—1st mortgage, gold
Fitchburg—Stock
Bonds, coupons, ($4,950,000 authorized)
Flint <£ Pere Marquette—Preferred stock
Reorganization mortgage, gold ($5,000,000)
Date
of
of
Road. Bonds
Flint A Holly RR
$2,485,000
685,000
100
2,500,000
2^
1,000
1,000,0 0
50
3,000,01 >0
6
1
1852
1854
1881
1883
1870
1872
1883
1,000
1,000
246,000
7
606,000
2,148,000
7
6
6
6
6
0
’74-’81
....
1884
...»
361
302
17
1,000
1880
1868
■
Bay County, issued in aid, guar, by lessees
Holly Wayne 6c Mon., 1st mort., sink, fund, guar.
...
Florida Railway <£• Nav.—F. C. A W., 1st mort., gold
Florida Transit—1st mortgage
Peninsular of Florida— 1st mortgage
Florida Transit A Peninsul’r—1st M. ($3,000,000)
Fernandina A Jacksonville
Fonda Johnslotcn <Z Gloversville—1st mortgage
Consol, mortgage
Fort Madison <£• Northwestern— 1st mort., gold
Fort Wayne d- Jackson—Pref. stock, (8 percent)
Common stock
Fort Wayne Cincinnati <£ Louisville—Stock
65
234
155
1871
1882
1831
1876
1382
1883
1870
1880
1880
50
239
24
10
26
100
97
97
128
Rate per When Where
Cent.
Payable
$1,000
1,000
114
....
Amount
Outstanding
1868
1S70
54
146
51
109
144
25
55
55
119
190
Size, or
Par
Value.
100
100
m
^
.
Bonus— Princi
pal,When Due.
INTEREST OR DIVIDENDS.
1,000
1,000
1,000
200,000
775,000
1,000
100
1,25 >,000
4,950,000
1,000
4,000,006
7
7
’
325,000
1,000
6,500,000
3,>*22,000
500 Ac.
500
1,000
300,000
75,000
1,000,000
1,000
2,808,000
1,000,00 *
1,000
V’OO
1,000
380,000
300,000
200,000
150,000
2,287.832
....
g.
g.
g.
g.
g.
6 g.
10
10
8
5 g6
7
6
6
7
6
7 g.
2
250,000
1,000
100 Ac.
100 Ac.
500 Ac.
Company's Ottice.
A
A
A
A
A
J.
J.
A
A
A
A
A
A
2ia
5, 6 A 7 A.
J.
3ia
1,750,000
Whom.
J. A J. N. Y., Union Trust Co.
do
do
A. & O.
A. A O.
Bangor.
J. A J. N.Y.. Farm. L. A Tr. Co.
J.
M.
J.
A.
M.
J.
A.
M.
M.
J.
J.
M.
J.
M.
J.
J.
A.
A
A
A
A
A
A
A
A
A
A
A. A
M. A
Stocks— Last
Dividend.
Payable, aud by
J. N.Y.,Farm. L*anA T.Co.
do
do
N.
do
do
J.
do
do
O.
N. N.Y.,Farm.L’an A T.Co.
do
do
J.
New York.
J.
D.
Boston, Ottice.
do
O.
J. N. Y., Mer. Ex. Nat. Bk.
do
do
O.
N. N. Y., Meehan. Nat. B’k.
S. N.Y., Merch.Exch. N.Bk
J. N.Y.. Merch. Nat. Bank.
J. N. York or Amsterdam.
do
do
S
New York.
J.
do
8.
do
J.
J. N. Y., St. Nich. Nat. B’k.
do
do
O.
O. New York or London.
S. N.Y.,Farmers’ L.ATr.Co
July 1, 1898
Oct.
1900
1,
April 1% 1985
July 1, 1924
Apiill, 1885
July 1, 1887
Nov. 1, 1887
July 1, 1921
April 1, 1928
Jan. 1, 1900
Jan.
Jan.
Dec.
1894
Jan.
Oct.
1,
1902
1,
1924
1, 1884
to 1903
15, 1885
1, 1920
May 1, 1888
Sept. 1, 1887
Jan.
1, 1901
April 1, 1922
Mar. 1, 1911
May 24. 1906
Mar. 1, 1912
July 1, 1923
July 1, 1900
May 1, 1920
April 1, 1905
March 2,1885
431,747
Notes."
1883
4,000,000
100,000
1,000
7
J.
June 1,
Boston.
A D.
1893
1
European
A North American.
—
Owns
from
Bangor, Me.,
Vanceboro (State Line), Me.,
lit miles.
Road was worked in
connection with the St. John 6c Maine, making an unbroken line from
Bangor, Me., to St. John, N. B., 205 miles. On Aug. 31, 1882, a lease
was made to the Maine Central for 00 years, for $125,000 per annum,
equal to 5 per cent per annum on the stock, and assuming the bonded
debt of $1,000,001), which is given under Maine Central.
to
Indianapolis.—Operates from Evansville to Wash¬
ington, Ind.. 57*2 miles, ot which 3*2 is owned by the E. A T. H. This
was formerly the Indianapolis & Evansville road, and was foreclosed
June, 1881, and reorganized under this name. The stock is $500,000;
Earnings—
express,
1882.
$
$
1883.
$
795,839
1,157,367 1,317,042
72,568
67,342
39,967
874,641
1,610,510
57,792
1,885,413
2,180,223
2,542,943
570.091
748.014
807.426
655,478
earnings.. 1,599 624
453.695
&c
Total gross
1831.
$
565,288
994,369
Passenger
Freight
Mail,
1880.
Evansville Sc
guaranteed by the Evansville & Terre Haute Co.
Evansville Sc Terre Haute.—Owns from Evansville, Ind., to
Terre Haute, Ind., 100 miles; Owensville branch and extension, 37
miles; total operated, 146 miles. The Rockville Extension, 23 miles
additional, is leased to the Terre Haute A Logansport for 5)9 years from
Nov. 1, 1879. Formerly the Evansville A Crawfordsville RR. Co.
the bonds
are
The 20 per cent stock dividend of 1884 was the distribution of $500,o<>0
which had been held for some time in the treasury. Annual report was
in V. 39, p. 4 2 Gross earnings year ending Aug. 31, 1883, were $751 ,690; net, $364.462; in 1883-84, gross, $753,107 ; net, $387,297.
(V.
39, p. 208, 492.)
Evansville Terre Haute Sc Chicago.—Owns from Terre Haute
Junction, Ind.. to Danville, Ill., 49 miles; leased, 6 miles: total
operated, 55 miles, It uses 6 miles of the track of the Rockville Exten¬
sion into Terre Haute; also leases the Indiana Block Coal road. 15
miles. On April, 30, 1880, a lease to the Chicago A Eastern Illinois
was made for 999 years; terms, $75,000 per annum and the assumption
by the C. & E. I. of all rentals and taxes paid by E. T. H. A C. The
bonded interest was reduced to 6 per ceut aud preferred stock for $100,000 issued for overdue coupons; common stock, $600,000.
Josephus
Collett, President, Terre Haute. Ind.
Fargo Sc Southern. -Fargo, Dak., to Ortonville, Minn., 119 miles.
Opened August, 1884. Stock, $1,250,000, par $100. II. E. Sargent,
President.
(V. 39, p. 434.)
Fitchburg.—Owns from Boston, Mass., to Fitchburg, Mass, (double
track), 50 miles; branches—Charlestown, 1 mile; North Cambridge
to
South Acton to Marlborough, 12 miles;
Waltham, 7
miles;
Peterborough & Shirley, Ayer, Mass., to Greenvilie, 24 miles; leased
and operated—Vermont & Mass. RR., Fitchburg to Greenfield, 56
miles; Turners Falls Branch, 3 miles; Troy A Greenfield RR., Green¬
field to North Adams, 37 miles; total, 190 miles. The Troy A Greenfield
RR. and the Hoosae Tunnel, owned by the State of Massachusetts, have
been operated by this company, and are now contracted to it for seven
years rrom Sept. 30, 1880.
There are notes out for $530,000. The
annual report for 1883-84 in Chronicle, V. 39, p. 706, referred to the
alliances made in 1884 for through business.
The income account for four years past (ending
1880-81.
1881-82.
new
Receipts—
Net earnings
Premiums and rents
Total income
7>* till'll
/’CP YY7 pi)
Sept. 30)
1882-83.
was :
1883-84.
$
434,158
$
444,843
$
670,737
94,234
161,000
107,000
$
666,752
58,500
528,392
605,843
777,737
725,252
237,811
239,572
230,164
246,809
.115,000
25,180
152,500
46,229
297,000
(6)
177,500
51,225
297,000
200,000
12,332
272,250
(6)
(5^)
/C
Rentals paid
Interest on debt
Other interest
Dividends
Rate of dividend....
Total disbursein’ts
Balance
315,000
(7)
692,991
735,301
755,889
def.164,599 def.129,458 surp.21,848
731,391
def.6,139
-(V. 38, p. 147; V 39, 706; V. 40, p. 337, 481.)
Flint A Fere
ton, Mich., 253
Marquette.—Owns from Monroe. Mich., to Ludingmiles; branches—Bay City to East Saginaw, 12
miles; Flint Junction to Otter Lake, 20 miles; South Saginaw branch,
5 miles; Harrison branch,
30 miles; Manistee branch, 26 miles,
Saginaw A Mount Pleasant Railroad, 15 miles; total operated,
361 miles.
A Receiver took the old company in Juno, 1879;
the
road was sold August 18, 1880, under the consolidated mortgage, and
reorganization was made and preferred stock ($6,500,000) issued for tne
consolidated mortgage bonds, and common stock ($3,500,000) is to Inissued for the old stock. The common stock has no present right to vote
or to receive dividends, and will
be issued only after the preferred
stockholders have received 7 per cent yearly dividends for five con
secutive years. The preferred stock is not cumulative, aud after 7 per
cent per annum is paid on both classes of stock, the balance of income,
if any, is to be divided ratably.
$1,178,090 of 1st mort. bonus, are re¬
served to retire prior issues.
For six months from Jan. 1, 1884, gross earnings were $1,215,410,
against $1,267,749 in 1883; net, $383,537, against $434,994; surplus
for dividend, $214,562, against $274,181.
On Jan. 1, 1884. the land notes (principal and interest) on hand for
lands sold were $627,021, and lauds yet unsold 103,619 acres.
The
sales of lauds during 1883 were 6,355 acres, aud total receipts, includ¬
ing timber and lots, $62,729. The total amount of cash collected in
1883 was $204,026. Annual report for 1833, in V. 38, p 386. Earnings
and operations for four years past wore:
Net
earnings
1881.
$
Disbursements—
Interest on debt
Dividends
Loss on cargo “ St.
322,118
357.500
1883.
$
318,627
45 -,000
683.553
731.524
773,623
def.113,462 sur.16,490 sur.33,803
Total disbursements
Balance for the year
GENERAL BALANCE AT CLOSE OF EACH
1880.
FISCAL VEAR.
1882.
1883.
$
11,361,845 11,754,789 12,326,386
$
190,300
1 <4.200
526,641
558,000
558,000
70,418
92,354
131,603
179,440
217,777
47,204
21,291
229,382
193,655
14,741
28,209
9,654
Railroad, equipment, Ac.. 9,671,959
Steamers owned
Stocks A bds. owned, cost.
Accounts receivable
Materials, fuel, Ac
Cash on hand
In trustee’s hands
Income account
Miscellaneous items
1881.
$
$
Assets—
2,000
22,791
233,438
131,147
115,021
19 291
154,899
112.147
17,291
10,311,193 12,281,853 12,966,601 13,506.232
$
$
$
$
6,304.800 6,500.000 6,500,000 6,500,000
.
Unpaid div’s.vouehers.Ac.
All other accounts
Income account
$
309,024
422,500
3,935
Albans”
Total assets
Liabilities—
Stock
Bonds (see Supplement)
Premium ou bonds
Land receipts
1882.
3,726.658
4,821 560
16 2,315
389,000
338,595
117,420
107,757
105,818
19,123
5,028,000 5,197,000
142,460
154 596
743.000
451,712
8 >6,000
643.875
65,815
35,614
Total liabilities
10,311.193 12,281.853 12,966,601 13,
—(V. 38, p. 386. 763; V. 39, p. 208.)
85,393
69,368
>06,232
Florida Railway A Nav.—(See Map;.—Miles owned aa follows :
Jacksonville to Chattahoochee, 209 miles, and branches from Talla¬
hassee to St. Marks, 21 miles; and from Drifton to Monticello, 4 m.;
Fernandina south, 179 miles; Waldo to Cedar Keys, 71 miles; Wild
wood to Leesburg, 22 8? miles; Hart’s road to Jacksonville, 221a m.;
total. 529 m.
At Jacksonville, March 1884. a meeting of the stock¬
holders of the Florida Central & Western, Florida Transit A Peninsular,
Fernandina & Jacksonville and the Leesburg A Indian River r «il mads
was
held and all of the companies consolidated under the name
of the Florida Railway A Navigation Co., and the following is a list of
directors: C. R Cummings. C. I. Peck and F. W. Peck of Chicago; W.
Bayard Cutting, Thos. C. Platt, L. M. Lawson, E. H. Harriman, E. N.
Dickerson and II. L. Horton of New York; D. L. Yulee and C. D.
Willard of Washington, and A. D
Basuett and B 8. Henning of
Florida.
The system embraces 529 miles of completed railroad, and
the construction of extensions southward aro in progress
D is pro¬
posed to issue $16,< >00 6 per cent consolidated bonds, with $13,000
of preferi'ed and $13,000 of common stock on each mile cons meted
ami hereafter to he constructed and equipped. Of the uew securities,
a sulficient amount will be set aside to take up all old securities.
Of the
above F. C. 6c W. bonds $1,000,000 are a preferred lien ‘ serins A,” the
balance of the issue being known as “series B.” B. 8. Henning Presi¬
dent, N. Y. City. (V. 38, p. 229, 301; V. 39, p. 233,290.)
Fonda Johnstown A Gloversville.—Owns from Fonda to
Gloversville, 26 miles.
The stock is $300,000. Gross earnings in
18-3-8 i, $158,680; net, $63,295; surplus ov«*r all charges aud 9
per
cent dividend, $3,719.
W. .1. Heaeoek, President, Gloversville. N. Y.
Fort Madison A Northwestern.—Narrow gauge road from Fort
Madison, la., to Birmingham, la., about 45 miles. Stock, $125,600.
liefault on bonds was made October, 18 s4, aud in March, 1885, a receiver
Farnings in 1882-8 >, $56,31.6; net, $23,8^6. J. C.
(V. 4 >, p 337.)
Fort Wayne A Jackson.—(See J lap L. Shore <£ If. S.)— Owns from
Jackson, Mien., to Fort Wayne, Iiul, 97 miles. The former Fort Wayne
Jackson 6c Saginaw made default ou its bonds and was sold in
foreclosure Dec. 3,1879. On Sept. 1,1882. leased perpetually to L. Shore
* Mich. South, at a rental of $126,027, equal to 58a per cent on the pref.
stock, and after 1*87 any net earnings over 8 per cent on pref. stock to
be paid ns dividend on common stock, but not exceeding 2 p. •. a year.
Fort Wayne Cincinnati A Louisville.—From Fort Wayne.
Iml., to Conuorsville, Ind., 104 miles; branch to Rushville, Ind., 24
miles; total'operated, 128 miles.
The Fort Wayne Muncie 6c Cincin¬
nati Co. defaulted and a receiver was appointed Nov., 1874. The road
was sold in foreclosure. July 27, 1881, to Elijah Smith, for the bond
holders, for $1,000,000. The bondholders reorganized under this name.
Gross earnings in 1884, $246,397 ; net. $33,358. Gross in 1883. $260,306; net, $16,385; interest paid, $3,500- Elijah Smith, Pres’t, N. Y.
was
appointed.
Atlce, President, Fort Madison, la.
42
RAILROAD
STOCKS
AND BONDS.
[Vol. XL.
Subscribers will confer a treat favor
explanation of column headings, &c., see notes
on
first page
discovered In tbese Tables.
by giving immediate notice of any error
onds—Princi¬
INTEREST OR DIVIDENDS.
DESCRIPTION.
For
43
BONDS
AND
STOCKS
.RAILROAD
1885. |
April,
of tables.
Miles
of
Date
Size, or
of
Par
Road. Bonds Value.
Amount
Outstanding
Rate per
Cent.
Where
When
pal When Due
Payable, and by
Whom.
Payable
Stocks—Last
Dividend.
•
Fort Worth <£
Denv. City—1st M.,gold ($25,000 p.m.j
Frederick dk Pennsylvania
Galveston Harrisb.dt
2d mortgage
Line—1st mortgage
S.Antonio—1st mort, gold, 1. gr.
Mexican & Pacific Extension, 1st mortgage, gold
do
do
2d mortgage
Galveston Houston <£ Hend. of 1882—1st mort.,guar
Geneva Ithaca <£ Sayre—1st mort., s. f., gold
Georgia Pacific— 1st mort., $10,000 per mile
2d mort., income ($15,000 p. m.)
i
Georgia Railroad & Banking Co.—Stock
Bonds, not mortgage
Bonds, not mortgage ($200,000 mature in 1922)..
Macon & Augusta, 1st mortgage
Grand Rapids <£• Indiana—Stock
1st mort., land grant, gold (guar, by Pa. RR)
1st mort., gold, ($675,000 are laud grant)
Six per cent mortgage.
Consol, mortgage for $13,000,000, coup, and reg.
Green Bay Winona <£Sl. Paul—1st mort. coup
2d mort. income bonds, reg.. non-cumulative
110
28
256
226
675
675
50
35
313
202
307
1881
$1,000
500 &C.
1870
’71-’80
1,000
1880
1,000
1881
1,000
1881
1,000
1833
1,000
1870
100 &c.
1882
1,000
1883
1,000
100
500
77&80
1,000
1867
1,000
250,000
4,756,000
635,000
13,418,000
3,354.000
2,000,000
600,000
3,134,000
3,031,000
4,200,000
84 81
Gulf Colorado <& Santa Fe—1st M., g. ($12,000 p.m.)
2d mortgage ($13,000 per mile), gold
Hannibal & St. Joseph—Common stock
Preferred stock (7 p. c. yearly, not cumulative).
Consolidated mort. (for $8,000,000)
Quincy tfc Palmyra RR
Bonds Kansas City & Cam. RR
Bonds
....
77
367
367
367
367
367
219
219
570
83
292
292
292
15
53
....
2.200,000
296,000
100
4,985,081
1,000
1,000
3,931,000
1,441,000
2,700,000
3,217,000
1,600,000
1,000
1,000
1,000
1,000
2,144,000
9,168.700
100
100
1881
1,000
....
....
5,083,024
6,000,000
433,000
1,200,000
1867
g.
g.
g.
J. &
A. &
F. &
J. &
M. &
J. &
A. &
J. &
J. &
A. &
D.
O.
A.
D.
N.
J.
O.
J.
J.
O.
Q.-J.
Mercantile Tr. Co.
Pennsylvania RR. Co.
N. Y.,
N.Y.,D.,M.&Co.,&Lona.
N. Y., Drexel, M. & Co.
Dec. 1, 1921
Oot. 1, 1900
Feb. 1, 1910
June 1, 1905
May 1, 1931
July 1, 1931
April 1, 1913
Y., Metrop. Nat. B’k. July 1, 1890
Y., Central Trust Co. Jan. 1, 1922
New York.
do
New York.
N.
N.
Augusta,Ga., RR. Bank.
do
do
do
7
6
7
T.
J.
J.
& J.
& J.
& J.
7*g.
J.
& J. N.
Jan. 15, 1885
Yearly to 1890
do
do
’97,1910,1922
do
1887
'
7 g.
6
5
6
8
7 g.
6
3,781,000
6,840,000
1,000
1,000
g.
2%
171,500
....
1869
1869
1884
1884
1881
1881
1879
1883
6
6
6
7
5
6
5
7
6
6
$2,390,000
*3’
6
8
10
Y., Winslow, L. & Co.
do
do
do
A. & O.
M. & N.
M.
F.
M.
J.
1899
1899
do
do
S.
A. N. Y., Nat. City Bank.
do
do
N.
J. N.Y. Nat. City Bk.&Galv.
O. New York, Nat. City Bk
Nov. 1, 1899
Sept. 1, 1924
Feb. 1, 1911
May 1, 1911
& A. N. Y., Company’s Office
& S. N.Y., Bk.of No. America.
do
do
& A.
do
do
& J.
Feb. 15, 1883
Mar. 1, 1911
&
&
&
&
A. &
F.
M.
F.
J.
do
July 1, 1909
Oct, 1, 1923
Jan., 1892
Jan., 1892
<■
Fort Worth Sc Denver
to Wichita
City.—From Fort Worth, Tex., northwest,
Falls, 110 miles, and built about 50 miles further by July
Stock $20,000 per mile; par value of shares, $100. Gross
1, 1885.
earnings year ending Oct. 31,1884,
$143,400; surplus, $69,030.
$472,162; net, $221,002; interest,
For four months from November, 1,’84,
fross earnings were$109,i 94, against
$130,697; net, $51,983, against
Annual report in
Morgan Jones, President, Fort Worth.
54.221.
V. 40, p. 60. (V. 39, p. 681, 707; V. 40, p. 60, 92, 240, 281, 393, 424.)
Dine.—Owns from Kingsdale to
Frederick Sc Pennsylvania
Frederick City, Md.. 28 miles. It is leased to Pennsylvania RR., which
pays interest on first mortgage. Preferred stock held by
RR., $461,000; common stock, $318,100; floating debt, .'coupons, &c.),
$153,222. Charles E.
—(V. 38, p. 332.)
Pennsylvania
Trail, President, Frederick City, Md.
Galveston Harrisburg Sc San AntonIo.-(iSee Map of Southern
Pacifie.)— Owns from Houston. Texas, to San Antonio, Texas, 217 miles;
Lagrange Extension, 31 miles; Harrisburg to Pierce Junction, 8 miles ;
leased, Harwood to Gonzales, 13 miles; total, 269 miles. Western Ex¬
tension, San Antonio to Rio Grande River, connecting with Southern
Pacific, 636 miles; Eagle Pass Branch, 35 miles; total Western Exten¬
sion, 661 miles. Grand total, 939 miles. The extensions to the Rio
Grande at Eagle Pass and to El Paso were completed late in 1882.
Georgia Pacific.—Atlanta, Ga., to Coalburg,
Ala., 177 miles; Cane
Creek, Ala., to Columbus, Miss., 75 miles; Greenville, Miss., to John¬
son ville and branoh (N. G.), 52 miles; other branches. 9 miles; in opera¬
tion Oct. 15, 1884, 313 miles. Built by Richmond & Danville Exten¬
sion Co.,anl operated in the R. & D. system
Tlie capital stock is
$7,335,000. Gross earnings year ending Sept. 30, 1884, were $547,974,
and net, $168,978. There were $240,800 car trust notes, but carrying
no interest.
(V. 33, p. 202, 738; V. 39, p. 706.)
Georgia Railroad. Sc Banking
Co.—Augusta, Ga., to Atlanta*
Ga., 171 miles; branches to Washington and Athens,60 miles; Warrenton, Ga.,to Macon, Ga., 76 miles; total owned and operated, 307 miles.
The Western Railway of Alabama is controlled jointly with the Central
RR. of Georgia, this company holding one-half the stock of $3,000,000.
The Macon & Augusta RR., 76 miles, is owned by this company. The
Port Royal & Augusta RR. is owned one-fifth part by this company;
the Atlanta & West Point thirty-five one hundredths by this company.
In April, 1881, a lease for 99 years was made to W. M. Wadlev and
associates (for the Central of Georgia and the Louisville & Nashville
railroads) at $600,000 per year, payable semi-annually, and dividends
are 283 percent quarterly.
In 1883-84 net income from all sources,
including bank, was $650,945, leaving a surplus of $67,287 above all
charges, including 10 per cent dividends. Total surplus of RR. Co. Mar.
31, 1884, $1,006,571; of Bank, $141,525.
to the Buffalo Bayou Brazos & Col. Rail¬
Grand Rapids Sc Indiana.—Owns from Fort Wayne Ind., to Mack¬
in 1870. The capital stock outstanding ou the whole road is
$27,093,030. The 1st mort. covers 256 miles of old road and 1.500,000 inaw City, Mich., 367 miles; branches to Carey’s, Mich., 15 miles; Deer
acres of land.
The proceeds of land sales are used to retire the bonds, Lake, 7 miles, and Mitchell, Mich., 8 miles; total owned, 397 miles;
and also a sinking fund of 1 per cent, but it is optional with bond¬ leased and operated: Cm. Richmond & Fort Wayne RR.. 86 miles;
holders to surrender their bonds, if drawn. [In 1883 the first mortgage Traverse City Railroad, 26 miles; Bay View Little Traverse & Mackinaw
bonds were reduced $44,000 by the sinking fuud, and > he amount of Railroad, 6 miles; total, 515 miles.
The Grand Rapids & Indiana Railroad is operated in the interest
second mortgage bonds was reduced $365,000 by that amount of bonds
canceled which had been held by the company.] In June, 1881, a large of the Pennsylvania Railroad Co., and $4,000,000 of the first mortgage
interest in the stock was bought by Southern Pacific parties.
The bonds are guaranteed by that company, which buys the coupons eaoh
mortgages on the Mexican Pacific extension cover 636 miles of road, year if any remain unpaid by the earnings. First mortgage bonds re¬
from San Antonio to El Paso, and the Eagle Pass branch, 35 miles— deemed
by the sinking fund are replaced by 5 per cent bonds issued.
671 in all. T. W. Pierce, President, Boston. The land grant is sixteen
The Co. had land grants amounting to 852,960 acres, and sold in 1884
sections (10,240 acres) per mile.
10,971 acres, for $92,993, an average of $8-47 per acre. The lands
In 1884 gross earnings were $2,902,591, against $3,565,137 ; net, unsold on Jau. 1, 1885, wore 449.921 acres. The assets were $189,213
bills receivable, and cash with cashier, $29,223.
Operations and
$903,3 >3, against $1,333,498.
In the year ending Deo. 31, 1883, the earnings and expenses, and the earnings for four years past ou main line were as follows:
net income, and payments therefrom, were as follows on the whole road:
Passenger
Freight (ton)
Gross
Net
Years.
Miles.
Mileage.
Mileage.
Earnings. Earnings.
EARNINGS, EXPENSES AND INCOME ACCOUNT.
332
24,661,483
79,316,473 $1,940,570 $562,890
332
28,382,854
93,283,242
2,260,291
582,054
Earnings from—
1893. I
1883.
332
30,314,507 102,398,821
2,332,134
653,195
Freight
$2,674,872 | Net earnings.
$1,416,720
367
26,222,264 100,197,431
2,116,298
613,719
Passengers
492,258' Payments—
Mail, express, &o
519,636 Interest on bonds
1,224,995 -(V. 38, p. 424, 479, 507, 619, 738; V. 39, p. 71.)
; Interest on float, debt..
31,644
This company was successor
way
Total
$3,686,766
Oper. exn. and taxes... 2,270,046
-|
Net
$1,416,720;
earnings
"
Real estate
Materials, &c
Cash & sundry
$46,007,803
3,699,917
Equipment
$1,315,063
Total
$101,657
Surplus
31, 1883.
Liabilities.
Assets.
1,83'->,483
285,614
assets..
591,826
Green
Bay Winona Sc St.
Paul.—Owns from Green Bay, Wis.,
Marshland, Wis., 209 miles; branches, 10 miles; leased—Plover
to Steven’s Pt., 6 miles; total, 225 miles. This was a reorganization in
1881 of the Green Bay & Minnesota, which company made default and
the road was sold March 12, 1881.
Preferred stock is $2,000,000, and
entitled to 7 per cent when earned, and common stock $8,000,000,
to
BALANCE SHEET DECEMBER
Construction
58,424
Other payments
•
Capital stock
Funded debt
School fund.
Other liabilities
Profit and loss
both stocks in $100 shares.
Year ending June 30, 1883, net re¬
$27,093,030 ceipts, $103,075; interest and rentals, $119,749; balance (deficit),
22,163,000 $17,492. On Feb. 1,1885, default was made on the first mortgage inter¬
278,450 est, and the Farmers’ Loin & Trust Co., of New York, trustee of the
1,568,702 mortgage, took possession. Samuel Sloan, President, New York. (V.
1,317,461 38, p. 30 ; V. 39, p. 409; V. 40, p. 181, 385.)
Total liabilities.
$52,420,643
Gulf Colorado Sc Santa Fe.—Mileage was as follows Feb. 1,
$52,420,613
1884: Galveston to Lampasas, 274 miles; Fort Worth Division, Tem¬
From aud after the opening of the whole line, Feb. 1, 1883, the leases
to Southern Pacific were canceled, and the road throughout operated ple to Fort Worth, 128; Northeastern Division, Cleburne to Dallas, 54 ;
Eastern Division, Somerville to Montgomery, 56 miles; Houston Divi¬
independently. (V. 39, p. 233, 324, 734; V. 40, p. 61, 153, 305, 394.)
sion, Alvin to Houston, 24 miles; total 536 miles. Road opened late in
1878 (63 miles), and sold and reorganized April 15, 1879. Formally
Galveston Houston Sc Henderson of 1882.—Owns from Gal¬
under now regime August, 1880, and has been rapidly extended.
veston, Texas, to Houston, Texas, 50 miles.
The road was opened in opened
See report in V. 37, p. 398.
Stock July 31,1883, $4,560,000. In July,
1853-4 and sold in foreclosure Dec. 1, 1871, and reorganized as the G.
H. & H. of 1871.
In July, 1880, the company defaulted on its interest 1883, the 2d mortgage was authorized. Earnings and income for three
and the road was sold in foreclosure Aug. 1, 1882, for $460,000, and years were as follows":
1883.
Total assets
the interest
of the
Eurchased
olders. byinagreement
Jaypurchasers,
Gould and Russell
with
receivedSage.
new 5The
perbondcent
and the road is leased for 99 years, to the
International & Great Northern Railroad Company and bonds guaran¬
teed by that company. Stook of the ne w company is $1,000,000. In
1883 gross earnings were $448,292; expenses, $440,396; net, $7,896.
—(V. 38,p. 331, 35 7.)
bonds for their old bonds,
Sayre.—Owns from Geneva, N. Y., to Sayre,
Pa., 75 miles; branch, Ithaca, N. Y., to Cayuga, N. Y., 38 miles;
Hayt’s Corners branch (leased), 3 miles; total operated, 116 miles.
Organized October 2, 1876, as successor of the Geneva Ithaca &
Athens Railroad (sold in foreclosure September 2, 1876), which had
been formed by consolidation of the Geneva & Ithaca and Ithaca <fc
Athens railroads, May 25,1874.
In 1880 absorbed the Cayuga & South.
Geneva Ithaca Sc
RR., 37 miles. The common stock is $1,275,000; preferred, $400,000
Gross earnings year ending a^pt. 30, 1883, $519,246; net, $72,354;
Interest, $60,468.
Surplus $11,886. In 1881-81, gross, $430,938;
deficit, $152,120; interest payments, $66,330; total^deiticit, $218,449.
1881.
226
Miles at end of year
Gross earnings
Net
earnings.
546
$777,434
$245,940
$1,251,073
$414,093
17,417
146,033
13,458
291,900
430,001
$163,450
$305,353
$82,490
$108,735
Balance, surplus
-(V. 38, p. 60; V. 40, p. 270.)
Hannibal Sc St. Joseph.—Owns from
$130,001
$310,493
Hannibal, Mo., to St. Joseph,
branches—Camerou to Kansas City, 53 miles St. Joseph
Atchison, Kans.. 19miles; Palmyra to Quincy, Ill.,513 miles; total
Mo., 206 miles
to
*
$2,068,957
$740,494
Disbursements—
Rentals
Interest on debt
Total disbursements
1882.
430
operated, 292 miles.
jjA
RAILROAD
44
Subscribers will confer
a
first page
Rarrisb. Portsm'th Mt. Joy & Lane.—Stock
let mor., registered (extended 30 years in
Harrisburg <6 Potomac— 1st mortgage, coupon
Hartford <£ Connecticut Western—Stock
1st mortgage
Bou8alomc—Stock
Preferred stock
1st mortgage, coupon
2d mort. bonds of 1869
1879-230.
•. —
Consolidated mort.. reg
HousL mast «e West Texas—1st mortgage, gold
2d mort., land grant ($5,000 per mile)
Houston <k Texas Cent.—1st M., (main) gold, l.gr.,s;l.
1st mort., 1. gr., Westdiv. (Hempstead to Austin)
1st M., gold,Waco A N’west (Bremond to Ross) —
Consol, mort., land grant, Main and Western Div.
Consol. mort., land grant, Waco A Northwest
Gen. mort., gold (for $18,500,000)
Huntingdon <£ Broad Top— 1st mort., gold
2d mortgage, gold
3d mortgage consolidated
Scrip for interest 1st and 2d mortgages
$50
54
1883).
1
j
Mortgage bonds, sterling
Sterling bonds, (sinking fund £20,000 yearly)....
Mortgage, sterling...
fVoL. XL.
discovered in these Tables.
INTEREST OR DIVIDENDS.
Miles
Date 1 Size, or
Amount
of
of
i Par] Outstanding Rate per When Where
Cent.
Bonds
Value.
Road.
Payable
;
of tables.
Illinois Central—Stock
Leased line 4 per cent stock, guar
BONDS
l
explanation of column Leadings, Ac., see notes
on
AND
great favor by giving immediate notice of any error
DESCRIPTION.
For
STOCKS
54
38
108
104
1883
127
....
127
74
1865
140
140
345
119
58
464
58
522
64
64
64
1,000
100
100
500 Ac,
500 &c.
500 Ac.
1869
1880
1878
1883
1866
1870
1873
1872
1875
1881
1854
1857
1865
1,000
994,000
1,000
1,000
1,000
1,000
1,000
1,000
750,000
6,154,000
2,271,000
1,140,000
4,046,000
.Nil.
1,000
•
500
500
1.497,000
118,895
29,000,000
10,000,000
2,500,000
4,000,000
1,000,000
ido
100
£200
1875
1874
1875
4,326,000
416,000
367,500
1,000
1,928
706
706
706
$1,182,550
700,000
507,200
2,530,700
.510,000
820,000
1,180,000
100,000
300,000
300,000
500 &c.
100 Ac.
100
1853
1874
£200
£200
3 *2
4
7
•
J. A J.
J. A J.
J. & J.
1*2
Whom.
J.
”1*2
g.
g.
g.
g.
g.
g.
g.
ggg.
stocks—Last
Dividend.
Phila,, Third Nat. Bk.
Hartford.
July 1, 1903
do
do
Dec.
& J.
Q.-j.
pal.When Due.
Jan. 10, 1885
July 1, 1913
Jan. 1, 1904
Pliila., Co.’s Office.
...»
5
7
6
5
7
6
7
7
7
8
8
6
7
7
5
7
4
2
6
5
5
Payable, and by
Bonds—Princi-
Bridgeport & Boston.
April
1, 1882
*15,
1885
& A.
Aug. 1, 1885
Bridgeport, Office.
do
do
& J.
July 1, 1889
do
do
A O.
April 1, 1910
1898
A N. N. Y.. Union Trust Co.
Jan.
dor
do
J. & J.
1, 1913
J. A J. N. Y., J. J. Cisco A Son. July 1. 1891
do
do
I. & J.
July 1, 1891
July 1. 1901
do
do
J. & J.
do
Oct. 1, 1913
•
do
A. & O.
do
do
M. A N.
May 1. 1912
do
do
A. & O.
April 1, 1925
A. & 0.
Sept. 30,1890
Philadelphia, Office.
do
Feb. 1. 1895
do
F. A’A.
do
do
A.. A 0.
April 1, 1895
Deo. 1, 1885
do
do
J. & D.
Mar. 2, 1885
M. & S. N. Y., 214 Broadway,
do
Jan. 1, 1885
do
J. & J.
London.
A. A O.
April 1. 1895
A. A 0. London,Morton R.& Co. April 1, 1903
Dec. 1, 1905
do
do
J. & D.
F.
J.
A.
M.
•
The first
The company was chartered Feb. 16, 1847, and road completed to St. article in Chronicle, V. 40, p. 43, and paragraphs on p. 72.
Joseph in Feb., 1859. The branches were built under different organiza¬ mortgage is a first lien on the main line at the rate of $20,000 a mile,
tions. The Bridge across the Missouri River at Kansas City is owned. covering 345 miles of road; it is also a first lien on ten sections of land
The compauy had a Congressional land grant and received $3,000,000 for each mile, or 2,208,000 acres, which if sold at $3 an acre would
in bonds from the State of Missouri, which loan was repaid in cash in June. more than pay off the entire lien $6,262,000.
The second mortgage at
1881, but litigation followed as to the interest payable on the State 8 per cent, is a second lien on 463 miles of road and also a first lien on
bonds, the State claiming interest should be paid to it at 6 per cent till six sections of land tor each mile of road, being 1,777,920 acres in all.
In February, 1885, B. G. Clark and Chas. Dillingham were appointed
maturity. The U. S. Circuit Court decided the further sum of $476,049
to be due the State, and the case is yet pending on appeal.
The land receivers in a suit of the Southern Development Co. against the railroad.
At the request of the bondholders’ committee the following statement of
grant has been practically closed out.
In September, 1882, a syndicate, including Jay Gould, Russell Sage, gross earnings, operating expenses, amounts charged to renewals and
and others, bought about 90,000 shares of common stock from John betterments, and gross interest charges, in each of the past four years,
R. Duff', of Boston, and in May, 1883, this common stock and a large was furnished by Mr Huntington, from which it appears that exclud¬
amount of preferred were sold to the C. B. A Q. RR. Co. at 45 for the ing betterments, renewals and interest on floating debt, the income was
much more than sufficient to meet the first mortgage interest.
common and par for the preferred, payable in C. B. A Q. 5 per cent bonds
at par.
Preferred stock has prior
right to a non-cumulative dividend ot 7 per
cent; then common to 7; then both share. Fiscal year ends Dec. 31.
Annual election occurs in November.
The income account for two
showed a surplus over all fixed charges of $353,698 in 1883; in
a surplus of $39,810, after paying $330,395 for a 6*2 per cent
dividend on preferred stock.
(V. 40, p. 182, 240, 270.)
years
1882
1884.
ing debt
Total expenses.
719,290
845,185
$2,299,283
$2,5 = 8,956
$291,092
$662,919
1,193,200
Dillerville, Pa., to Harrisburg, Pa., 36 miles; branch, Mid¬
dletown, Pa., to Columbia, Pa., 18 miles; total operated, 54 miles.
The property was leased to the Pennsylvania Railroad Co. for 999
years from Jan. 1, 1861, the rental being 7 per cent on the stock and
interest on the bonds. Operated as a part of main line of Penn. RR.
Surplus applicable for
Harrisburg A; Potomac.—Owns from Bowmansdale to Shippens
burg, Pa., 32 miles; branch to mines. 5hi miles; total operated, 37^3
miles. Extensions projected from Bowmansdale to Harrisburg. Bonds
authorized, $1,800,000. Stock $379,165. C. W. Ahl, President, Boiling
—(Y. 38, p. 387; V. 40, p. 43, 61,
451, 481.)
Spriugs, Pa.
Connecticut Western.—Hartford,
Hartford A
Conn.,
to
Rhineoliff, N. Y., 108 miles, of which 102 miles are built; leases, 6
Hartford A Boston Railroad; total, 108 miles.
begun in 1880 against the former Connecticut
Western, and the State Treasurer took possession. On May 25, 1881,
bondholders reorganized, and stock in new company issued for bonds.
In March, 1882, the purchase of the Rhinebeck A Connecticut Railroad
was made for $800,000 in the stock of this compauy.
Gross 9 timings
1882-83, $394,411; net earnings, $68,502. Gross in 1883-84, $838,826;
deficit, $10,597; interest, dividends, Ac., $42,416; total deficit, $52,993.
miles of Poughkeepsie
Foreclosure suit was
22 miles; West Stockbridge Railroad, 3 miles; Stoekbridge A Pitts¬
field RR., 22 miles; tot til, 127 miles. The preferred 8 per cent stock was
Issued in 1845 to pay for laying the road with heavy iron. There are
also $150,000 6 per cent equipment bonds due Feb. 1,1888, and $66,000
5 per cent Danbury branch bonds due October 1, 1912.' Operations
and earnings for four years past as follows:
Miles.
127
127
127
..127
.
1881.
interest (til bonds...
hit. on bonded debt...
1,193,200
Deficit
$902,108
608,066
1,095,052
$2,356,970 $3,236,924
$799,547
1,193,25.5
$511,731
1,139,965
$393,708
$628,234
$530,281
92, 120, 151, 240, 269, 337, 394, 424
Huntingdon A Broad Top.—Owns from Huntingdon, Pa., to
45 miles; branches—Slump's Run, 9 miles; Six Mile
Run, 4 miles; and Sandy Run, 3 miles; Long’s Run Br., 3 miles;
total operated, 64 miles. Tills road was opened in July, 1856. The capi¬
tal stock is $1,368,650 common and $1,984,600 7 per cent pref. stock.
No dividends ever paid on common stock, and none on preferred from
1865 until Feb., 1884, when 75 cents per share was paid.
Earnings in
1883, $424,494; net, $196,651. .In 1884, earnings, $333,560; net,
$175,724. (V. 38, p. 201 ; V. 40, p. 182 )
Mt. Dallas, Pa.,
Illinois Central.—(Nee Map.)— Line of Road—The Illinois Central
Co. operates a system embracing 2,066 miles of road. Main line—
Chicago to Cairo. 365miles; Dunleith to Ceutralia, 341 miles. Branches
Otto to Colfax, Ill., 60 miles; Buckingham to Tracy, Ill., 10 miles;
Keinpton Junction to Kankaxce Junction, Ill., 42 miles; Colfax to
Bloomington, 20 miles; total 132 miles.
Southern Division—New
Orleans La., to Cairo, Ill., 548 miles; branches: Kosciusko Junction,
Miss., to Aberdeen, Miss., 108 miles; Durant to Lexington, Miss., 12
miles. Total owned, 1,6*4 miles. Leased—Dubuque to Iowa Falls, 143*
miles; Iowa Falls to Sioux City, 183 miles; Waterloo to Minnesota
State Line, 76 miles. Total leased, 402 miles.
Total operated Dec. 31,
1884, 2,066 miles.
On Jan. 1, 1833, took formal possession of the
Chic. St. L. & N. O. RR., now known as “Southern Division,”
—
Housatonic.—From Bridgeport. Conn., to State Line, Mass., 74
miles; Brookfield June, to Danbury, 6 miles; leased—Berkshire Rallrottd,
Years.
1882.
$3,156,517 $3,748,655
$1,748,904 $2,141,872
Betterments,renewals
and interest on float¬
Harrisburg Portsmouth Mount Joy & Lancaster.—Owns
from
1883.
earnings
$2,590,375 $3,251,875
Operating expenses..$1,579,993 $1,743,771
Gross
Pitssenger
Mileage.
7,325,680
7,846,894
8,546.740
8,794,731
Gross
Freight (ton)
Mileage.
Earnings.
$740,997
17,890,190
754,513
17,277,336
17,510,670
746,328
15,795,565
735,492
Net
Div. *
Earnings. Pref.
$247,283
273,981
253,203
252,251
—(V. 38, p. 220.)
Houston East A West Texas.—Owns from Houston, Tex.,
to Nacogdoches, Tex., 140 miles. (Narrow guage, 3 feet.) It is intended
fco build to Marshall. The company has a Texas land grant of 10,240
=vcres for each mile constructed and equipped. Bonds issued to the extent
3f $7,000 per mile first mortgage and $5,000 per mile second mort¬
gage.
Stock authorized, $10,000,000; issued, $1,500,000.
Gross
earnings 1881-2, $251.079; net, $143,197; interest on bonds. $56,795
The surplus of $86,401. and cash from land sales, $50,659. were
applied to construction. In 1883 gross earnings, $301,946 ; net, $185,612: interest on bonds, $69,600; surplus for year, $115,012, which was
Organization, Leases, Ac.—This company was chartered in Decem¬
ber, 1850, and organized in March, 1851, and the whole road, 707
miles, opened September, 1856.
The Illinois Central was one of the
first, and has been one of the most successful, of the land grant roads.
The lands granted were upon the condition
that. the compauy
should pay to the State 7 per cent of gross earnings yearly in lieu of
taxes. The Springfield Division was acquired by a lease of the Chicago
A Springfield (Gilman Clinton A Springfield foreclosed) for 50 years,
but road is practically owned. The leases of Dubuque A Sioux City RR.
and Iowa Falls A Sioux City are on different terms.
(See the names of
those companies.) The company acquired a controlling interest in the
Chicago St. Louis A New Orleans Railroad, to which it made large
From July 1, 1882, leased the Chicago St. Louis A New
advances
Orleans for 400 years, at 4 per cent per annum on stock, and issued the
above 4 per cent leased line stock, in exchange for the Chic. St. L. A
N. O. stock. Fiscal year ends Dec. 31. Annual election held in March.
Stock and Bonds.—The Illinois Central stock has been held largely
applied to construction. Paul Bremond, President, Houston, Tex.
(V.
in England. The bonds of the company proper are very limited. On
38, p. 571, V. 39, p. 493.)
the Chicago St. Louis A New Orleans the lessee
guarantees the
Houston A Texas Central. (Sec map of Southern Pacific )—Owns principal and interest of all the outstanding bonds prior to the 5
from Houston, Tex., to Red River City, Tex., 345 miles; branches
per cent bonds, and, by an indorsement on the latter bonds, guar¬
—Hempstead, Tex., to Austin, Tex., 118 miles; Bremond, Tex., to antees the payment of the interest on the same until the principal
Ross, Tex., 58 miles; total operated, 522 miles. Texas Central RR. is paid.
Of the first mortgage bonds, $541,000 are a prior lien on
completed from Ross to Albany, 177 miles. The company has a land that portion of the road in Tennessee.
The consolidated 5 per cent
grant from the State ot Texas of 10,240 acres per mile, amount¬ mortgage bonds of 1951 are issued for redemption of prior bonds, and
ing to about 5,130,720 acres; but tin? lands are not on the line their amount is limited to $18,000,000.
of the road. Mr. Morgan, of the Louisiana Steamship Line, bought a
Dividends paid since 1870 (prior to current year) have hern : in 1871,
controlling interest in the stock, and in February, 1883, the Southern 10 per cent; in 1872, 10: in 1873, 10; in 1874,8; in 1875,8; in 1876,
Pacific party purchased this interest ($3,985,500 of the stock) with 8; in)877, 4; in 1878, 6; in 1879. 6; in 1880, 6; in 1881, 7 ; in 1882,
their purchase of the Morgan propertv. Total stock is $7,726,900. The 7 ; in 1883, 8, and 17 per cent in Chic. St. L. A N. O. stock, exchangeable
for leased line certificates; in 1884, 10. Prices of the stock yearly since
i Tru-t Co. as
trustee, which company holds $1,509,000 Income and 1870 havebeen: in 1871, 132® 139i2; in 1872, 119-3)140; in 1873. 90
Indemnity bonds and $1,149,000 consol, mortgage bonds as security.
3 12fiic; in 1874, 90 3)108*2; in 1875, 8S*23)106*2: in 1876, 6078£103%;
The coupons due January 1, 1885, on first mort. bonds were not paid in 1877. 40*2^79; in 1878, 72^sm7; in 1879,79*4^100%; in 1880,
by the company, but were purchased by the Southern Development Co., 99123,12738; in 1881, 1243146*2; in 1882, 127%3>150*2; in 1883, 124
though coupons on the'second mortgages had been paid in October. See ®148; in 1884, 1103 140; in 1885, to April 18, 119127.
'•
•
tenoral mortgage of 1881 for $18,500,000 is made to the Farmers’ Loan
April,
18S5.Ji
RAILROAD
STOCKS
AND BONDS.
45
RAILROAD STOCKS AND BONDS
46
by giving Immediate notice of any error
Subscribers will confer a great ftevor
discovered in these Tables.
explanation of column headings, dec., see notes
on first page of tables.
Illinois Central—( Continued)—
Bonds, coup. ($2,000,000) M. onCh. &
Bonds, reg., mortgage on Middle Div
Date
Miles
of
of
Road. Bonds
Ill
131
206
224
185
567
567
567
147
696
202
202
202
342
202
140
Sp. RR
Chic.St. Louis &N.O., 1st M. (N. O.J.& G. N.)....
do
do
2dM.
do
do
2dmort. (Miss. Central)..
do
do
1st mort
do
do
2d mort
do
do
do cons.M., gld. (for $18,000,000)
Illinois Midland— 1st mortgage, gold
Indiana Bloomington <& West.—Stock
1st mort., preferred, coup, or reg
1st mortgage, coup., may be reg
Income bonds, reg., convertible
Consol, income bonds for $6,000,000
2d mortgage, coupon or reg
1st mortgage, gold, Eastern Division
1877
1881
1856
1860
1865
1877
1877
1881
1875
Size or
par
Value.
Amount
Outstanding
1,000
1,000
1,000
1,000
1,000
1,000
•
.
•
•
Iowa Falls <£ Sioux City—Stock
1st mortgage. April 1, ’69
Ithaca Auburn <£• West— 1st mort.(for $500.000)...
2d mortgage, (income for 3 years)
'
152
152
110
110
72
72
117
117
184
184
38*2
3812
1879
1879
1879
1881
1879
1881
1883
1876
1876
1882
1883
1869
1882
1867
1870
1869
1876
1877
Pay’ble
6
5
8
8
8
7
6
5 g.
7 g.
11,774,000
4,175,000
10,000,800
1,000,000
•
100
100 &c.
500 &c.
100 &c.
72,300
4,565.000
1.500,000
3,000,000
1,000
1,000
500,000
1,800,000
1,000
1,000
1,000
1,000
7 g.
7 g.
6
2,778,0001
600,000
140,000
500
1,000
1,000
2,000,000
500 &c.
1,700,000
1,450,000
4,623,500
6
7
6 g.
7
6
500,000
1,000
100
500 &c.
100 &c.
100 &c.
J.
F.
J.
A.
F.
M.
J.
J.
J.
&
&
&
&
&
&
&
&
&
of the $10,009,000 stock, of
leased line 4 per cent stock,
The Ill. Central owned $9,992,700
which $4,422,700 were pledged against the
and the balance of $5,570,00 » was owned
absolutely by the Illinois Central, and in June. 1883, a distribution of
17 per cent in this stock was made to Illinois Central stockholders.
For 1884 the annual report in V. 40, p. 266, showed that the surplus
over all charges (including construction and equipment accounts) and 8
per cent dividends was $137,928. The profits of the whole line, as against
the increased liabilities, are seen in the figures below :
INCOME ACCOUNT.
Road
operated
Receipts—
Gross earnings
Net earnings
1883.
1884.
1,928
$
13,061,743
6,629,472
2,066
$
12,190,833
6,062,321
Interest
293,009
Miscellaneous
202,223
188,967
121,206
7,129,707
$
6,372,494
$
Total net income
Disbursements—
Rentals, incl. int. on bonds of leased lines
Interest on Illinois Central debt
Dividends on III. Cent, st’k & leased line certs.
Taxes
Construction accounts
Additional equipment
Miscellaneous.
account
1,891,538
538,750
3,300,000
559.980
632,529
50,000
6,972(797
Total disbursements
Balance, surplus
—(V. 38. p. 87, 227, 243, 332, 358 ;
121,214,266,337.)
1,787,316
546,900
2,720,000
545.269
219,913
250,000
165,138
6,234,566
156,910
137,928
V. 39, p. 264; V. 40, p. 61, 105,
Illinois Midland.—Operates from Terre Haute, Ind., to Peoria,
Ill., 173 miles, of which 148 miles are owned and 28 miles leased
This was a consolidation Nov. 4, 1874, of the Peoria Atlanta & Decatur,
Paris
Decatur and Paris & Terre Haute. Receiver appointed Sept.
11, 1875. June 30, 1833, floating debt $500,000. and receiver’s certi¬
ficates, $1,335,263. There were prior mortgages on the roads forming
In 1881-82, gross receipts, $290,229; net,
In 1882-83 gross earnings were $211,186; net, $278. Stock,
$2,000,000. D. II. Conklin, Receiver. (V. 38, p. 295.)
this consolidated company.
$12,519.
Payable, and by Stocks—Last
Dividend.
Whom.
J.
A.
J.
0.
A.
N.
D.
D.
J.
N. Y.,
214 Broadway.
do
do
do
do
do
do
do
do
do
do
do
do
do
do
Jan.. 1. 1898
1, 1921
Aug.
July 1, 1886
Oct. 1, 1890
Feb. 1, 1886
Nov. 1, 1897
Dec. 1, 1907
15,1951
1, 1905
June
Jan.
.
1%
7
7
7
2.947,500
377,000
498,090
& J. N. Y., Corbin Bank’g Co
do
do
do
do
J. <fe J.
do
do
T. & J.
do
do
A. & O.
do
do
J. & D.
do
F. & A.
do
A. & O. N. Y., First Nat. Bank.
J. & J. Treasurer, 67 Wall St.
New York Agency.
M. & N
do
do
M. & N.
Various N. Y., Union Trust Go.
M. & N.
Agency, N. Y. City.
F. & A. N. Y., Farm. L. & T. Co.
do
do
M. & N.
J.
A. & O.
Jan. 1, 1900
Boston, at Office.
Q.-M.
A. & O. N. Y., Nat. Park Bank.
J. & D. N.Y., Hanover Nat. Bk.
do
do
J. & J.
1909
1919
1921
1909
April
April
July
April
1,
1,
1,
1,
June
1, 1921
1903
July 1, 1906
July 1,1906
1887
1903
.
July 1, 1919
1912
1908
May 1, 1900
Mch. 2, 1885
Oct. 1. 1917
Dec., 1906
Jan. 1, 1907
Nov. 1,
Feb. 1,
INCOME ACCOUNT.
of which it
included in tne Ill. Cent.
pal,When Due.
....
7
4 to 6
6
6
4 to 6
6 g.
6
3,500,000
500 &o.
Operations and Finances.—The Illinois Central for many years paid
10 per cent dividends, as the road drained a rich territory,
was the only outlet to Chicago.
But the building of numerous east and
west lines crossing its road cut into its business severely
The company,
to extend its business, acquired the line from Cairo to New Orleans,
and invested largely in improving the property.
Its operations
When
Cent.
2,690,000
1,483,000
563,100
1,400,000
80,000
100 &c.
Where
Rate per
$1,600,000
'068,000
$1,000
12881
Sinking fund debentures
Indianapolis Decatur <t Springfield—1st mort., gold
2d mortgage, gold
Indiana Illinois <t Iowa—Bonds
2d mortgage
Indianapolis t£ SI Louis—1st mort., in 3 series...
Mort for $2,000,000, gold, (end. by C. C. C. & I.).
Indianapolis dC Yincennes— 1st mortgage, guar—
2d mortgage, guaranteed
are now
Bond*—Princi¬
INTEREST OR DIVIDENDS.
DESCRIPTION.
For
[Voh. XL.
Receipts—
,
$
888,653
$
691,192
Net earnings
Disbursements—
Rentals paid
Interest on debt
Miscellaneous..
$
$
575,770
253,276
196,119
30,306
Total disbursements
Balance
..
sur.
479,701
211,491
1883.
1882.
1881
327,738
28,456
931,964
def. 43,311
$
1,036,519
a
569,164
433,375
20,752
1,023,291
13,228
sur.
-(V. 38, p. 540, 594 ; V. 40, p. 151, 304, 363.)
Indianapolis Decatur Sc Springfield.—Owns from Decatur,
Ill., to Indianapolis, Ind.. 153 miles. This company is successor to the
Indiana & Ill. Cent. RR, sold in foreclosure April 26, 1875. In Deo.,
1881, was leased to Ind. Bloom. & W. for 50 years, at 30 per cent of gross
earnings, but with a guarantee of $200,000 per year. In April, 1885.
relinquished and Mr. Hammond, the President, was
appointed receiver. The first-mortgage bondholders were asked to fund
one-lialf of the coupons due April 1 and Oct. 1,1885, in five years’ scrip,
the other half being paid in cash. See V. 40, p. 424. Common stock is
$500,000. (V. 38, p. 177; V. 40, p. 92. 363, 424.)
this lease was
Indiana Illinois Sc Iowa.—Completed and
Streator III., to N. Judson, Ind., 110 miles. Stock,
in operation from
$2,079,900.
F. M.
Drake, President, Centreville, Iowa.
Indianapolis to Terre
Al. & T. H. and branches,
old lease of the St. Louis
A. A T. H. was guaranteed by three other companies, and suit has been
pending as to the rental. The company was formerly controlled by
the Pennsylvania and Cleveland Columbus Cin. & Ind. companies,
who jointly owned the stock of $600,000.
Interest had not beem
paid on the second mortgage and equipment bonds since July, 1878,
and on July 28, 1882, the road was sold in foreclosure for $1,396,000
(subject to 1st mort.) and bought for Clev. Col. Cin. & Ind. Co. and a
new company organized September,
1882, with J. H. Devereux asr
President. A new lease was made of the St. Louis Alton & Terre Haute
by which this company and the Cleveland Columbus Cincinnati & In¬
dianapolis are jointly liable for the rent of $450,000 per year as a mini¬
Of the first mortgage bonds series “A” are J. & J.; scries “B,”
mum.
M. & S.; series “C,” M. & N.; and the C. C. C. & I. RR. guarantees
Indianapolis Sc St. Iiouis.—Owns from
Haute, Ind., 72 miles; leased line, St. L.
193 miles; total operated, 265 miles. The
$750,000 of them.
,
.
large deficit on the company’s operations after de¬
ducting the rental. Net earnings in 1^84 were $189,904; rental paid,
$450,000; interest on bonds, $169,977; miscellaneous, $87,650 ; total,
$707,627; net loss to lessee, $517,723. The road is only incidentally of
advantage to its owners as a route to St. Louis.
Operations and earnings for five years past were :
There has
been
a
Indiana Bloomington Sc Western.—Owns from Indianapolis,
Gross
Not
Passengei
Freight (ton)
Ind., to Pekin, Ill., 202 miles, and Indianapolis to Springfield, Years.
Miles.
Earnings. Earnings.
Mileage.
Mileage.
Ohio, 142 miles. Leased, Pekin to Peoria. 9 miles; Springfield to San¬
266
15,285,443
148,947,237 $2,009,922 $608,413
dusky, O., 130 miles; Cary, O., to Findlay, O., 10 miles; Springfield to
187,670
266
19.479,278
196,029,304
2,048,651
Columbus, 45 miles. Total operated, 543 miles. This was a consolida¬
21,008,318 202,985,772
2,086,776 df. 111.608
266
tion in March, 1881, of the Ind. B. & W. and the Ohio Ind. & Pacific.
18*3
2,131,621
265
20,960,061
196,667,532
172,419
The Cincinnati Sandusky & Cleveland and branch was leased in April,
1,921,726
189,904
265
22,494,880
207,672;278
1881; but of this, 24 miles (Springfield, O., to Dayton) is leased to Cin¬ 1S84
cinnati & Springfield. In April, 1885, the lease of the Indianapolis
Indianapolis Sc Vincennes. -Owns from Indianapolis, Ind.,
Decatur & Springfield road was given up. The former Indianapolis
to Vincennes, Ind., 117 miles.
The Pennsylvania Company owns a
Bloomington & Western Company defaulted Oct. 1,1874, and a Receiver controllinginterest in the stock and operates the road, advancing the
was appointed Dec. 1, 1874.
The road was sold in foreclosure Oct. 30, deficiency to pay interest on the bonds. The capital stock is $1,402,000;
1878, and the company reorganized.
the debt due to Pennsylvania Co. is $674,092.
In 1880 the net earn¬
On the first and second mort. bonds the interest was 3 per cent 1879ings were $60,506; in 1881, $10,260; in 1882, $19,850; in 1883, deficit,
1882, 4 per oent 1883-84, 5 per cent 1885-1887. and 6 per cent there¬ $11,031;
in 1834, deficit, $9,570. Annual interest on debt, $206,000.
after until maturity. The income bonds take such interest from July 1,
1879, not exceeding 6 per oent per annum, as the net earnings may
Iowa Falls Sc Sioux City— (See Map of Illinois Central).—Owns
suffice to pay. $830,000 stock scrip was issued entitled to a dividend
from Iowa Falls, la., to Sioux City, la., 184 miles. This road was opened
of 7 per cent per annum, after a dividend of 8 per cent on the common
in 1870 and is leased to the Illinois Central for 20 years from Oct. 1,
stock. After the payment of a 7 per cent dividend, the stock scrip is
1867, at a rental of 36 per cent of the gross earnings. The Illinois
convertible into common stock.
Central has an option of continuing the lease after 1887 at same rental.
The statistics from the annual report for 1883 was in V. 38, p. 594.
This company also receives a drawback of 10 per ct. on business to and
from their line over the Dub. <fe S. City RR., and receives rental for 26
earnings and expenses.
Miles owned
Miles leased
Total
operated
1881.
1882.
1883.
202
199
344
352
344
352
$
592,565
1,049,784
183,717
Earnings—
Passenger
Freight
Mail, express, &c
696
696
924,725
1,554,616
260,886
$
1,020,464
1,699,310
302,592
401
$
miles of its road used by the Sioux City & St. Paul Co. In the year
ending March 31,1884, the total rental was $329,254; receipts from
sales of lands, $441,500; the total income was $843,830, and all ex¬
penses.
including dividends, $537,367.
$1,450,000. Lands remaining unsold,
President, Clinton, la.
is
The contingent fund invested
45,490 acres. Horace Williams,
Itliaca Auburn Sc Western.—Owns from Freeville to Auburn»
N. Y., 38 miles. The New York & Oswego
sion, was sold in foreclosure, and this company organized Sept.
1876. The stock is $975,800. On April 1, 3 883, was leased to South¬
Midland RR., Western Exten¬
20,
3,023,366
1,134,874
2,740,227
1,851,574
1,985,847
Central of New York for the term of its charter, at a rental of 3313
of gross earnings, with guarantee that rental shall equal 4 per
cent on first mortgage bonds. Foreclosure has been
to by a
691,192
888,653
1,036,519
to the terms of the lease.
ern
-
Total gross
earnings
Operating expenses and taxes....
Net earnings
#
1,826,066
per cent
majority of bondholders in order to change the form
,
consented
of bonds to conform
EAILEOAD
April, 1885. J
47
BONl>S
AND
STOCKS
Subscribers will confer a great favor by giving Immediate notice of any error
DESCRIPTION.
For
explanation of column headings, Ac., see notes
on first page of tables.
Jacksonville Southeast— 1st mortgage.
General mortgage
Jefferson (Pa.,)—1st A 2d rnorts. (Hawley Branch)..
1st mortgage (Susquehanna to Carbondale)
Jeffersonville Madison <& Indianapolis—Stock
Jeff., Mad. A Ind., 1st M. (s. f. $15,000 per year),
do
do
2d mort. ($100,000 in 1882)..
Jersey Oity <£ Bergen—1st mortgage
Jersey Shore Pine Creek <& Buff—1st mort., guar—
Joliet <t Northern Indiana—1st mort., guar by M. C.
Junction
(Philadelphia).—1st mort. (extended)
2d mortgage
.
(for $3,200,000)
City Fort Scott <£ Qulf— Stock, common
Kansas Central—1st mortgage
Kansas
—
Stock, preferred
1st mortgage, land, grant, Rink, fund
Mortgage on branches, guaranteed
do
do
Equipment bonds (10 per cent retired annually)..
Kans. City Clinton A Spr., 1st mort., gold, guar..
Pleasant Hill A De Soto, 1st mort., gold
Kansas City Springfield <£ Memphis—1st mort
Plain bonds (red’ble at will at 105 and int.), guar
Kentucky Central—Stock ($134,900 unissued)
Covington A Lexington,mortgage
Maysville Division mortgage
General mortgage
Keokuk <£Des Moines—1st M., int. guar. C. R. I. & P.
Miles
Date
Size, or
of
of
Par
Road. Bonds Value.
54
112
9
38
224
159
159
6
44
3-6
3-6
168
389
389
159
202
26
is i
44
282
250
80
50
220
162
1880
1882
1867
1869
$1,000
1,000
1,000
1,000
1866
1870
1873
1883
1877
1882
1865
1881
1,000
1,000
1,000
Amount
Outstanding
m
m
When
Cent.
Payable
733,000
300 tOO
2,000,COO
2,000,000
2,660,000
2,000,000
275,000
3,500.000
800,000
425,000
m
1,000
1,000
1,000
300.000
1.000
1,348,000
4,648,000
2,750,000
2,353,000
2.741,000
390,000
1879
1880
1882
1883
1884
1877
1883
1884
100 Ac
1855
1.000
5,599,500
220,000
1,000
400.000
6,379,000
100 Ac.
2,750,000
1,000
1,000
700.000
2,400,000
120,000
1,000
500
7,000,000
50 ’,000
1,000
.
1881
1878
Rate per
$300,000
100
m
discovered in these Tables.
Bonds—Princi
INTEREST OR DIVIDENDS.
6
6
7
7
1*3
7
7
7
6
7
41^
6
6
2*3
4
7
7
5
6
5 g■
7 g.
6
6
1
7
7
4 to 6
5
Where
pal,When Due.
Payable, and by
Whom.
Stocks—Last
Dividend.
J, N. Y., Am. Ex. Nat. Bk. July 1, 1910
do
do
J.
July 1, 1912
1887 A 1889
J. Honesdale Nat. Bank.
J. N. Y., by Erie Railroad. Jan. 1, 1889
Q.-F. N. Y., Farm. L. A T. Co. May, 1881
Oct. 1, 1906
A. A 0.
ao
do
J. A J.
do
do
July 1, 1910
Jan. 1, 1903
J. A J.
1933
J. A D. Phila. P. A R. RR. Co.
J. A J. N. Y., Farm. L. A T. Co. July 10, 1907
J. A J. Phila., 233 So. 4th St
July 1. 1907
A A O.
do
do
April 1, 1900
A. A O. Office, 195 Broadway.
April 1, 1911
F. A A.
Boston.
Aug. 15, 1884
do
F. A A.
Aug. 15, 1884
J. A D. Bost., Nat. Webster Bk. July 1, 1908
M. A S.
do
do
Sept. 1, 1910
F. A A.
do
do
Aug. 1, 1922
Dec. 1, 1893
do
J. A D.
do
1924
do
do
1907
A. A O. Boston, Everett Nat. Bk
M. A N. Boston. Nat. Uuion Bk.
May 1, 1923
May 1, 1894
M. A N.
Cincinnati.
May, 1881
June, 1885
J. A D. New York, 23 Broad St.
1906
J. A J N. Y., Morton, B. A Co.
do
do
J. A J.
July 1, 1911
A. A O. N. Y.,Farm. L. A T. Co. Oct. 1, 1923
J. A
J. A
J. A
J. &
Jacksonville Southeastern.—Owns from Jacksonville to Cent- 1880,1881, 1882 and 1883, but does not include the 50 miles of narrowralia, la., 112 miles. This was the Jacksonville Northwestern A South¬ gauge road prior to the year 1883 (which during the year 1882 were
eastern RR., projected from Jacksonville to Mt. Vernon, 125 miles. Bonds widened to standard gauge). The income account, however, includes all
were issued at $20,000 per mile, amounting to $600,000.
In 1879 the lines, the differences in net earnings as stated being due to a deficit of
company was reorganized by the bondholders under this name. In 1880 $6,000 in 1886 and $9,000 in 1881, and a profit of $50,745 in 1882, on
the road was extended 23 miles and bonds issued. Stock $1,000,000. In the narrow-gauge road. In 1883 all lines are included in operations.
INCOME ACCOUNT.
year ending June 30, 1883, gross earnings, $107,524; net, $25,658;
Interest paid, $22,779. W. S. Hook, Presid’t, Jacksonville, Ill.
1883.
1882.
1881.
1880.
Carbondale, Pa.,
miles; total, 45
perpetuity to the Erie Railway for $140,000 per
operated by the N. Y. Lake Erie A West. Capital
Jefferson.—Owns from Susquehanna Depot, Pa., to
37 miles; branch, Hawley, Pa., to Honesuale, Pa., 8
miles.
Leased
annum,
and
in
now
stock, $2,096,050.
Samuel Hines, President, Scranton, Pa.
Miles
186
201
204
1882....
1883
Gross Earn.
1,462,802
1,545,198
1,426,893
Net Earn. Div. p. c3
305,043
35(5,807
356,783
305
365
389
389
$
$
1,212,364
525,915
58,215
1,503,215
663,901
25,966
$
1,703,199
750,319
15,051
$
2,016,212
584,130
689,867
$
765,370
$
182,856
162,629
359,360
837,668
359.364
3
8
8
oper.(incl.nar g.)
Receipts—
Total gro.-s earnings..
Net earnings
Interest, Ac
Jeffersonville Madison Sc Indianapolis.—Owns from Louis¬
ville, Ky., to Indianapolis, Ind., 110 miles; branches—Madison, Ind., to
Columbus, Ind., 46 miles; Columbus, Ind., to Sheibyville, Ind., 24 miles;
Jeffersonville, Ind., to New Albany, Ind., 6 miles; Shelby & Rush RR.,
18 miles; Cambridge Extension, 20 miles; total operated, 224 miles.
The road was leased to Pennsylvania Company from 1873, with a guar¬
antee of interest on bonds and 7 per cent on stock.* Lease was modified
from January 1, 1880, the lessees to pay over all the net earnings to
the J. M. A I. Co. In 1881 the Penn. Company purchased $1,939,000 of
the stock. Dividends were at the rate of 7 per cent per annum till
May, 1880, and reduced afterward. In 1882 interest on bonds was
$329,000 and sinking fund $100,000, leaving a deficit for the year of
$74,018. Operating expenses have increased largely since 1880. Earn¬
ings for three years past were as follows:
Years.
1881
Miles
Total income
Disbursements—
Interest on bonis
Leased lines interest..
Dividends
Rate paid on com
Do
pref....
$
234,350
*36,936
219,837
8
200,059
125,536
312,700
2
8
Total disbursements.
Balance, surplus
*
For four months only.
$
173,203
184,003
3
11,360
20,330
5,241
26,830
8,980
24,360
26,520
502,483
81,647
663,866
26,001
740,655
767,450
70,218
Sinking fund
Miscellaneous
837,668
24,715
-(V. 38, p. 595, 618; V. 39. p. 234, 553, 363.)
Kansas City Springfield Sc Memphis.—This organization em¬
braces two corporations under the laws or Missouri and of Arkansas to
build a road from Springfield, Mo., to Memphis, Teun., 282 miles.
-(V. 38, p. 379.)
Jersey City Sc Bergen.—Owns from Jersey City to Bergen Point.,
N. J., 6 miles. In 1883 gross earnings, $323,511; net, $104,678; in
1884, gross, $356,834; net, $98,163. Stock, $250,000. Dividends 10
per cent in 1884. C. B. Thurston, President, Jersey City.
Road finished October, 1883. The Kansas City Ft. Scott A Gulf will
appropriate 15 per cent of gross earnings on business to or from the
new road to pay interest on the bonds, or retire the principal at 110.
Capital stock, $5,250,000. (V. 39, p. 71; V. 40, p. 304, <*63.)
Jersey Shore Pine Creek & Buffalo.—From Catawissa Junc¬
Ky., 143 miles; Paris to Lexington, 19 miles; leases Paris, Ky., to Mays¬
ville, Ky., 49 miles; Richmond to Stanford, 34 miles; total operated, 250
miles. The extension from Paris to Livingston, Ky., about 70 miles, was
completed in 1884. This was formerly the Covington A Lex. RR., which
tion to Stokesdale on the Coming C. A A. Road, 75 miles.
It is a con¬
nection between Philadelphia A Reading lines and N. Y. Central, and
bonds are guaranteed by these companies and the Corning C. & A.,
on the condition that guarantors shall advance money for interest if
needed and take 2d mortgage bonds for such advances. Stock and
bonds mostly held by Mr. W. H. Vanderbilt. Gross earnings in 1883
were
$188,728
Joliet Sc
;
net, $17,400.
Northern Indiana.—Owns from Joliet, Ill., to Lake
Station,
Ind., 45 miles. Operated as part of the Michigan Central
main line. Road opened in 1854 and leased to the Mich. Cent. Above
issue of bonds definitely guaranteed was given as a compromise in
place of old 8 per cent bonds. Stock ($300,000) carries dividends of 8
per cent per annum.
Junction (Philadelphia).— Owns from Belmont, Pa., to Gray’s
Ferry/ Pa., about 4 miles
It connects the Pennsylvania, the Pliila-
delpliia A Reading and the Philadelphia Wilmington & Baltimore rail
roads, coming into Philadelphia. Capital stock, $250,000. Net earn¬
ings in 1881, $69,956; in 1882, $123,919; in 1883, $130,731. Dividends
are paid according to receipts;
20 per cent paid in 1883.
Kansas Central.—Owns from Leavenworth to Miltonvale, 167
miles. Sold under foreclosure of first mortgage April 14, 1879.
Reor¬
ganized April, 1879. Gross earnings in 1883, $259,324; deficit. $23,484 ;
deficit over interest, taxes, Ac., $102,756. Gross earnings in 1884,
$283,267; deficit, $69,223; deficit over interest, taxes, Ac $111.159.
Stock, $1,348,000. Union Pacific holds $1,313,400 of the stock and
$1,162,000 bonds. Sidney Dillon, President.
Kansas City Fort Scott Sc
Gulf.—Mileage is as follows:
Main line—Kansas City to Baxter Springs, 160 miles; branches—Weir
City to Cherry\ alle, 50 miles; Arcadia to Coal Mines. 2 miles; Baxter
Springs to Webb City, 22 miles; Rich Hill Junction to Carbon Centre
and Rich Hill, 28 miles; Fort Scott Junction to Springfield, 100; Coalvale to Cherokee, 26. Total operated, Dec. 31, 1883, 389 miles. In
October, 1884, the Pleasant Hill A De Soto road was purchased by the
Kansas City Clinton A Springfield, and the bonds assumed.
This company was organized April 1, 1879. as successor to the
Missouri River Fort Scott A Gulf, which made default October 8.
1873, and was sold in foreclosure February 4, 1879. The first mort¬
gage bondholders of the old road took 80 per cent in the new mort¬
gage bonds, and for all other claims stock was issued.
The branches
have been built mainly by this company aud bonds are guaranteed.
In August, 1884, it was >roposed to build a line of 151 miles from a
,
on the main line. 28 miles south of Kansas City t j a point 20 miles
west of Springfield, Mo., on the Fort Scott S. E. A Mem. RR. For this
purpose each holder of 25 shares of stock of the Kansas City Fort Scott
A Gulf RR. of record Sept. 4, 1884, was entitled to subscribe to one
block of the securities of the Kansas City Clinton A Springfield Railroad
Co., consisting of 6 shares of capital stock at par, $600; $1,000 5 per
cent;40-year gold bond at 25 per cent, $250; total, $850; The bonds
were to be guaranteed by Kans. City Ft. S. A Gulf.
(See V. 39, p. 234.)
The annual report for 1883 was in V. 38, p. 618. The following state¬
ment gives the earnings and the income account for the four years,
point
Kentucky Central.—Owns from Covington, Ky., to Livingston,
was foreclosed in 1859.
In 1875 the present company was formed, aud
took possession May 1, 1875. The Maysv. A Lex. RR. was taken Nov. 17,
1876. In June, 1881, a majority of the stock was purchased by Mr. C.
P. Huntington of the Chesapeake A Ohio road. Enough of the general
mortgage is reserved to retire the third mortgage, due 1885. This com¬
pany leased of the Louisv. A Nashv. RR. its Richmond branch for 99
years from Jan 1, 1883, for.$21,000 per annum, with a right to purchase
at any time for $400,0( 0.
In Febm iry, 1884, the company needing more money, the stock was
assessed lo per cent, and holders of $5,600,000 of the general mortg.
agreed to take 4 per cent for three years beginning July 1, 1884, instead
of 6. Of this the report of Mr. C. P. Huntington. President, in Chroni¬
V. 33, p. 645, gave particulars. Under the arrangement, the fixed
charges for the year would be $303,990. including interest and rentals.
For two mouths from Jan. 1, 1885, gross earnings were $114,578,
cle,
against $104,536 in 1884; net, $18,498, against $17,654.
and disbursements have been
as
follows
Receipts
:
income account.
1881.
Total gross earnings —$705,127
Operating expenses
490.655
1882.
1883.
1884.
$724,363
415,090
$842,052
485,233
$922,108
603,620
$214,472
$309,273
$356,819
$318,487
$28,000
$28,000
130,630
$52,000
214,563
39,731
$62,074
256,880
50,402
Receipts—
Net earnings
Disbursements—
Rentals paid
Interest on debt
Taxes A miscellaneous..
Dividends
70,875
41,617
20,412
73,252
$369,356
$306,294
$179,042
*$50,525 def. $50,869
$130,231
$728
The coupons due Jan. 1,1884, were $181,110, and deducting the sur¬
plus fer the year 1833. $50,525, there was an actual dettoit of $130,585.
—(V. 38, p. 114, 177, 332, 359, 645; V. 39, p. 96, 181, 264, 522, 606 ; V.
40, p. 61, 362, 427.)
Total disbursements. $213,744
Balance, surplus
*
Keokuk Sc Bes Moines.—Owns from Keokuk, la., to Des Moines,
la., 162 miles. This was a reorganization, Jan. 1, 1874, of the Des
Moines Valley Eastern Div., sold in foreclosure October 17, 1873.
The property was leased for 45 years from Oct. 1, 1878, to the Chicago
Rock Island A Pac. RR. on the terms following: that the lessee pay 25 per
oent of the gross earnings to this company, but guarantee the interest
(not fh* principal) on the preTent bonds. The stock is $1,524,600 of 8
per ceut preferred and $2,600,400 of common, a majority or which is
eld by the lessee. In the year 1882-83 gross earnings were $534,466,
aud rental, at 25 per cent, $133,616, leaving $3,833 deficit on the inter¬
est
chargeipaid by lessee. A dividend of 1% per cent on
paid December, 1881. (V. 36, p. 148.)
was
preferred stock
Subscribers will confer a great favor
explanation of column headings, &c., see notes
on first page of tables.
Lackawanna d Pittsburg—Mortg. (for
$2,000,000)
Income bonds
Allegan v Cent., 1st mortgage, gold
do
2d mortgage, gold
-.
do
Income mort., not cumulati—
Lake Erie d Western—Stock
1st mortgage, gold
Income bonds convertible (not cumulative)
Sandusky Extension, 1st mortgage
do
Date
Miles
Size, or
of
of
Par
Road. Bonds Value.
62
62
....
386
165
m
m
m
•
21
Lafayette Bloom. & Muncie, 1st mort., gold
do
do
income M. con. (non-cumul.)
Lake Ontario Southern—1st mortgage, gold —
1,310
Lake Shored: Michigan Southern—Stock
Guaranteed 10 per cent stock
¥64
Consol. 1st mort., (sink, fund, 1 per cent) coupon.
864
do
do
do
registered
864
Consol. 2d mort., do. (for $25,000,000) coup.ifc reg.
Lake Shore dividend bonds
-»
3d mortgage (C., P. & A. RR.) registered bonds..
1st mortgage (C. & Tol. RR.) sinking fund
2d mortgage
do
Buffalo
State line, mortgage bonds
Buffalo & Erie, mortgage bonds
Det. Monroe & Tol., 1st mort., coup., guar
Kalamazoo & White Pigeon, 1st mortgage
Schoolcraft & Three Rivers. 1st mortgage
Kalamazoo & Schoolcraft, 1st mortgage
$....
....
200
200
50
258
95
162
162
88
88
62
37
12
13
Lackawanna & Pittsburg,—A consolidation in
the Allegany Central and the Lackawanna & Pittsburg.
500 &c.
....
m
1,000
1,000
1,000
1,000
1,000
1879
1879
1880
1880
1879
1879
1880
100
100
1870
1870
1873
1869
1867
1855
1866
1866
1868
.1876
1869
1867
1867
1,000
1,000
1,000
1,000
1,000
1,000
1,000
500 tfcc.
April, 1883, of
Road operated
1,416,866
1,424,013
1,503,523
1,264,194
319,791
103,331
521,313
291,864
133,436
549,317
380,591
154,089
651,993
228,762
127,725
495,567
45,269
66,543
115,490
39,180
1,154,080
1,094,203
Total
322,663
Net earnings
‘
269,933
56,876
7o,485
1,429,524
73,999
56.464
56,73 L
1,004,429
259,765
INCOME ACCOUNT.
$
Receipts—
Net earnings
DisbXiV8€T)l€HtS—
Interest on debt
....
Balance
*
$
$
269,933
73,999
259,765
317,218
312,255
310,653
*383,322
5,445
def. 42,322 def. 236,654 def. 123,557
and the Buffalo & Erie RR. August 16, 1869. The consolidated line eiu
braces the former roads of the Cleveland & Toledo and the Cleveland
Painesville & Ashtabula railroads.
The stocks of some of the railroads
which entered into the consolidation forming the Lake Shore & Michigan
Southern road had been largely increased by stock distributions, and on
the liues between Buffalo and Toledo the profits had been so large that
the capital of several of the companies had been repeatedly watered.
Tho consolidated line (including Detroit Montoe & Toledo) then em¬
braced 927 miles, with $34,938,000 stock and $22,283,000 funded debt.
The Detroit Monroe & Toledo, Kalamazoo & White Pigeon, and the
Northern Central of Michigan, are proprietary roads controlled by
ownership of their stock. The New York Chicago <fc St. Louis road is
similarly controlled by the purchase made in 1882.
The Chicago &
Canada Southern is also operated by the Lake Shore & Michigan South.
Stocks and Bonds.—The
c
A. & O.
6 g7
6
7
6 g.
7
6 g-
F. & A. N.
,
f
400,000
100,000
guaranteed stock of $533,500 carries 10 per
cent dividends. The ordinary stock has paid the following dividends
since 1870, viz.: In 1871,8; in 1872,8; in 1873,4; in 1874, 3*4: in
1875,2; in 1876. 3*4; in 1877, 2; in 1878, 4; in 1879, 6%; in 1880,
1881, 1882 and 1883, 8 percent each year; in 1884, 7.
The range in prices of stock since 1870 has been: Li 1871, 851c®11614;
1872, 831g3>98l4; 1873, 57^^97^; 1874, 67%®S4%; 1875, 51*4®
t
S
New York
J.
&
City.
....
Jan.
Jan’ary
F. & A.
.
do
do
do
do
Aug.
Aug.
Aug.
May
May
.
Y., Metropolitan Bk.
M. & N. N.
5
F. & A.
do
7
J.
do
Y., Union Trust Co.
Q.-F. N.Y.,Grand Cent.Offlce.
A. & 0. N.
do
& J.
Q.-J.
&
&
&
&
&
&
&
&
&
&
&
J.
A.
A.
J.
A.
M.
A.
F.
J.
J.
J.
D.
Coupons are paid by
0.
0.
J.
0.
S.
0.
A.
J.
J.
J.
Treasur’r at Gr’nd
Central Depot, N.
^
Y.. and registered
interest by Union
Trust Company.
1,1912
Aug. 15. 1919
Y., Metropolitan Bk.
August.
do
7
7
7
7 '
7
7
7
7
7
7
8
8
24,692,000
1,356.000
920,000
1,595,000
849,000
300,000
2,784,000
J.
Dividend.
April 1, 1923
April 1, 1923
Jan. 1, 1922
•
•
Yearly.
1%
533,500
•
.
Stocks—Lost
Whom.
New York.
6
6
6 g.
6 g.
6
15, 1899
1, 1919
1, 1920
1,- 1919
1, 1899
July 1, 1905
Nov. 1, 1884
Feb. 1. 1885
July 1, 1900
July 1, 1900
Dec. 1, 1903
April 1, 1899
Oct. 1, 1892
July 1, 1885
April 1, 1886
Sept. 1, 1886
April 1, 1898
Aug. 1, 1906
Jan. 1, 1890
July 1, 1887
July 1, 1887
«0%; 1876, 48%®68%; 1877, 45®733a; 1878, 5%®71%: 1879,67®
108; 1880, 950,139%: 1881. 112%®l:>53i; 1882, 98<2> 120% ; in 1883,
9234 a 114%; in 1884, 59%®10434; in 1*85, to April 18, 58*4®
%.
The first consolidated mortgage bonds are redeemed each year by
The above bonds of all
$250,000 contributed to the sinking fund.
classes outstanding are given less the amounts held in the sinking
funds, which amounted to $3,250,000 Dec. 31, 1883.
Operations, Finances. &c.—The annual reports of this coriipany are
models of clearness in all the statistical matter. Tho road is greatly
dependent on through traffic, or trafiic from competitive points, and its
business is therefore
injured by any cutting of rates on trunk line
freights.
In
mon
1882, 140,500 shares preferred stock and 124,800 shares of com¬
stock of the New York Chicago & St. Louis Railroad (a con¬
trolling interest) were purchased and $6,500,000 of Lake S & Mich.
S. 2d consol, mortgage bonds issued to pay for it, making an additional
interest charge of $456,890 per annum, which can only be compen¬
sated directly when tho N. Y. Chic. & St. L. pays dividends. But this
purchase placed the Lake Shore in a new position, controlling two lines
from Buffalo to Chicago and leaving only the Grand Trunk of Canada
not under Vanderbilt control.
The statement for tho year 1884
(December being estimated) as sub¬
mitted by the Treasurer, in comparison with
which statement the quarterlj’’ dividend, due
passed:
Gross
earnings
Operating expenses and taxes
Net earnings
Deduct for interest,
Balance
Dividends paid, 6 per cent
per cent for 1884
18«3, was as below, on
in February, 1885, was
1883.
1884.
$18,513,856
11,001,854
$14,''02,000
9,160,500
$7,511,802
3,498,806
$5 7 41,500
$4,012,996
$1,987,889
3,957,320
2.473,325
rentals, etc
for 1883 and 5
$55,676
Bur.
3,753,611
Def. $4 -5,436
The annual report for 1883 was published in V. 38, p. 569,
the tables below, showing the earnings and income account
of years:
1880.
1881.
1882.
containing
for a series
1883.
Earnings—
Passenger
Freight
Mail, exp., rents, &c.
3,761,008
4,134,789
14,077,294 12,659,987
911,159
1,176,615
$
4,897,185 4,736,088
12,022,577 12,480,094
1,305,877
1,297,474
Operating expenses.
10,418,105
11,278,428
11,057,807 11,001,853
$
$
$
Net
8,331,356
earnings
P.c.of op. ex.
55*56
toear’gs
INCOME
Includes income boed interest.
-(V. 38, p. 114; V. 39, p. 210, 264, 492; V. 40, p. 92, 182, 363, 424.)
Lake Ontario Southern.— Owns from Sodus Point, N. Y., to
Stanley, N. Y., 34 miles. This company was a consolidation, Dee. 2,
1879, of the Ontario South and the Geneva Hornellsville & Pine Creek
railroads. Stock, $940,475. Gross earnings in 1880-81, $31,088.
Lake Shore &; Michigan Southern.—(See Mop.;—Line of
Road—Buffalo, N. Y., to Chicago, Ill., 540 miles; branches owned, 324m.
Other lines owned asi'oilows: Detr. Mon. & Tol., 62 miles; Kalamazoo
White Pigeon, 37 miles; Northern Central (Mich.), 61 miles; total, 160
miles. Roans leased are as follows: Kalamazoo Allegan <fc Gr. Rapids,
58 miles; Jamestown & Franklin, 51 miles; Mahoning Coal R., 43 miles.
Detroit Hills. & Southwest., 65 miles; Fort Wayne & Jackson, 98 miles;
total, 315 miles. Total road owned leased, and operated, 1,340 miles.
Organization, <fec.—This company was a consolidation of the Lake
Shore RR. and Michigan Southern & North. Indiana RR. May 27, 1869,
"
pal,When Due.
Payable, and by
$
322,663
sur.
994,300
49,466,500
100,000
Total gross earn..
48,365
64,525
580.000
1,000
&c...
36,934
67,535
-
2,500,OGC
1,000,000
924,000
308,033
815,037
141,124
Operating expenses—
59,000
36,000
7,720,000
1,815,000
1,485 000
327,000
1,000
1,000
1,000
348,532
1,023,032
131,959
Maint. of way, &c..
Maint.of equipm’nt.
Transportation exp.
Taxes
General
Construct’n & equip.
209,000
1.000
332,608
936,008
155,397
express,
$1,612,000
1,000
1,000
323,474
916,969
176,423
Mail;
Bonds— Princi¬
Where
Rate per When
Cent.
Payable
Outstanding
1,000
operates under trackage contract from Lackawanna Junction to New
Castle, 207 miles. Stock $5,000,000, of which $1,500,000 is preferred.
In 1884
The A. C. 1st mort. bonds are redeemable any time at 105.
Company became embarrassed and in Dec., 1884, a receiver was ap¬
pointed. Famines m 1883-84, $117,875; deficit, $87,980 ; interest and
rentals, $L09,844; total deficit, $197,825. Geo. D. Chapman, President
and receiver, New York City. (V. 38, p. 202; V. 39, p. 081.)
Lake Erie & Western.—Owns from Sandusky to Fremont, 22
miles; Fremont to Celina, 99 miles; branch to Minster, 10 miles;
Celina to Muneie, 54 miles; Muncie to Illinois State line, 120 miles;
Illinois State line to Bloomington, 81 miles; total operated, 386 miles.
This was a consolidation, Dec. 12,1879, of the Lafayette Bloomington &
Muncie and the Lake Erie & Western. The line embraces the former
Lafayette Bloomington & Mississippi road and the Lake Erie & Louis
ville. There are also $165,000 in' car trust certificates outstanding.
The earnings of the road during the past three years have shown a con¬
siderable deficit, which was owing partly to failure of the crops and low
freight rates, but in 1883-84 a large decrease in operating expenses was
made, thus increasing net earnings and reducing the deficit.
The fiscal year of this company terminates June 30. For the year
1883-84 the report was in the Chronicle, V. 39, p. 492.
1880-81.
1882-83.
1883-84.
1881-82.
$
'
Earninqs—
$
$
$
Freight
Amount
1,000,000
1883
1881
1882
1882
Jan., 1884, from Lackawanna Junction, New York to, Perkinsville. 41
miles; Swain’s to Nunda, 12 miles, and Olean to Angelica, 39 miles.
The last-named line is 3 ft. gauge and the others standard gauge, also
Passenger
discovered in these Tables.
by giving immediate notice of any error
21
income bonds
do
[VOL. XL.
INTEREST
DESCRIPTION.
For
AND BONDS
STOCKS
RAILROAD
48
•
238,675
98,392
7,781,638
7,266,224
7,670,343
208,662
Total income....
8,540,018
282,955
Dividends, ordinary.
Rate of dividend
Now cars A engines*.
53,350
3,957,320
8
....
....
Total disbursem’ts
850,000
273,925
,
357,087
2,612,230
53,350
2,714,955
8
8
3,957,320
53,350
3,957,320
158,540
471,876
3,132,120
53,350
3,957,320
8
674,949
Miscellaneous
6,916,356
1,623,662
Balance, surplus
$
7.511,803
Interest, divid’s, &c.
Pr.onbds.&st’kssold
2,622,730
1883.
7,167,832
6,692.963
Interest on debt
Dividends, guar
' $
$
8,331,356
Disbursements—
Rentals paid
7,511,803
59*43
1882.
1881.
$
Net earnings
60*67
account.
1880
Receipts—
7,167,832
6,692,963
62*76
199,597
7,771,371
10,267
*
7,082,712f 7,614,666
183,512
55,677
*
In 1880 this item amounted to $700,000, but was charged to operat¬
ing expenses, and in 1882 it amounted to $1,019,000, but was charged
in
general account below
EACH FISCAL YEAR.
1881.
1882.
GENERAL BALANCE AT CLOSE OF
1880.
Assets—
$
’
Railr'd, build’gs, &c.
Equipment
R’l est. A office prop.
Ch.& Can.So.bds.,&C.
Stocks owned, cost..
Bonds owned,
Advances
cost
..
Materials, fuel, &c...
Cash < n hand
Uncollected earnings
Total assets
$
68,862,600 69,818,600
$.
.
1 = 83.
$
69,848,600 70,048,600
14,378,000 16,150.000 17,169,000 17,300,000
365,780
223,597
305,798
365,780
660,000
2,28)s,358
1,924,080
C60.000
"1,907,386
2,115,180
1,253,778
973,785
3,410,798
1,409,578
1,166,890
724,669
744,291
994,797
91,719,287
660,010
8,702,428
2,127,180
1,394,956
1,355,153
534,275
604,312
715,000
9,414,477
1,554.030
1,421,342
1,221,178
317,320
582,545
95,282.898 1 oo w .684 102,940,272
SBATONCDK.RAILOSD
1A8pr6il.,]
50
KAILKOAD
Subscribers will confer
STOCKS
AND
BONDS
[Vol. XL.
great favor by giving Immediate notice of any error discovered In these Tablet
Bonds—Princi¬
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due.
Amount
For explanation of column headings, &c., see notes
of
of
Par
Rate per
When
Where Payable, and b)
Stocks—Last
on first page of tables.
Road. Bonds Value. Outstanding
Cent.
Whom.
Payable
Dividend.
a
DESCRIPTION.
*
Lake Shore dt Michigan Southern—(Continued)—
Kalamazoo Allegan & Gr. Rapids, 1st mortgage...
Kal. Allegan A Gr. Rapids, stock, 6 p. c. guar—
Jamestown A Franklin, 1st mortgage
Jamestown & Franklin, 2d mortgage
Laurence—Stock
1st mortgage
58
1868
*5*i
1863
1869
51
22
17
41
22
22
25
323
101
101
232
60
Lehigh dk Hudson River—1st mortgage, gold
Warwick Valley, 1st mortgage
do
2d mortgage
Lehigh dk Lackawanna—1st & 2d mortgages.«.
Lehigh Talley—Stock ($106,300 is pref.)
1st mortgage, coupon and registered
2d mortgage, registered
Consol, mort., gold, $ & £ (s. fd. 2 p.c. y’ly) cp. A reg.
Easton & Amboy, 1st mort., guar.(for $6.00C,000)
Delano Land Company bonds, endorsed
1865
1881
1879
170
Little
31
354
Schuylkill—Stock
Long Island—Stock
1st mortgage, extension
1st mortgage, main
50
32,954,920
.
m
1,000
1,000
1,000
50
1,000
1,000
....
1875
500 Ac.
1876
1881
500 Ac.
1,000
50
50
500
500
....
I860
1868
95
1881.
1,000
800,000
145,000
240,000
600,000
.
m
....
....
1880.
307,310
.
1,000
1,000
1864
1882
84
168
165
Funding coupon scrip
1,000
....
....
Little Rock Miss. River dt Texas—1st mortgage
2d mortgage
500,000
.
1868
1870
1873
1880
1872
1882.
500,000
50
.
1381
1877
196
$840,000
610,000
335,000
1,000
1,000
....
....
Little Miami -Stock,* common
Street con. 1st M. bds (jointly witliCin.& Ind.RR.)
Renewal mortgage
Little Rock dk Fort Smith—Stock
1st mort., land grant sink, fund (for $3,000,000)..
$1,000
8
3
7
7
2
7
6
6
6
7
1^
J.
A J. 1
A. & O.
J.
J.
& J.
& D.
Q.- J.
l
r
See
J
Pittsburg Office.
F. A A. N. Y.,
J. & J. N. Y.,
A. A 0.
A. A O.
J. A D.
Q.—J.
preceding page,
i
i
Winslow, L. A Co.
Nat. Exch. Bank.
July 1, 188 3
April 1, 1885
Var.to J’ly,’97
Oct. 1, 1894
J an., 1885
Aug.,
1895
July 1, 1911
1899
1911
Philadelphia.
Philadelphia, Office.
Dec. 1. 1907
6
J. A D. Reg.atoffice; cp.B’kN.A
5,000,000
7
M. A 8.
6,000,000
Philadelphia, Office.
6
J. A D.
13,607,000
do
do
5
M. A N.
2,500,000
do
do
7
J.
A
J.
1.395,000
do
do
2
4,837,300
Cincinnati.
Q.-M.
6
Various Cinn., Lafayette Bank.
250,000
5
1,500,000
M. A N. N. Y., Bank of America.
4,505,308 10 stock.
Boston, Treasurer.
7
2,453,500
I. A J. N. Y., Wm. C. 8heldon A Co
7
J. A J.
638,332
7
1,871,500
J. A J.
Boston, Co.’s Office.
7
1,106,000
A. A O.
do
do
J. A J.
2,487,850
3^
Philadelphia Office.
1
10,000,000
Q-F. N.Y.,Corbin Bank’g Co.
M. A N.
7
175,000
do
do
7
M. A N.
1,121,500
do
do
Apr. 15. 1885
June, 1898
Sept., 1910
1898 A 1923
1920
Jan., 1892
March 10.1885
1894
Nov. 2, 1912
July 18, 1881
Jan.
Jan.
1, 1905
1,
1906
1911
Jan.
16, 1885
1, 1885
May, 1890
May, 1898
May
1883.
Dayton A Western Railroad, Dayton, O.. to Indiana State Line, 37 miles;
Ohio State Line to Richmond, Ind., 4
miles; total operated, 196 miles. The
Little Miami Railroad proper extends from Cincinnati to
Springfield, but
Bds. (see Supflem’t)
the portion between Xenia and
Springfield is now operated as a branch ;
Dividends
for the remainder of the' main line, as
given above, the Col. A Xenia
Other liabilities
road, Columbus to Xenia, is used. On Jan. 1,1865, they leased the
DayProfit and loss
ton & West. (Dayton to Ind. State line) and the Rich. A Miami
(State line
to Richmond), and on Feb. 4,1865, purchased the road from
Xenia
to
Total liabilities..
94,719,287 95,282,898 102,761,684 102,940,272 Dayton; these three roads go to form the
branch of 57 miles given
—(V. 38, p. 295, 569, 571, 751, 763; V. 39, p. 47, 2l)2, 203, 235, 553, above. The
partnership agreement was dissolved Nov. 30, 1868, and a
593, 606, 721, 733 ; V. 40, p. 304, 337, 338, 363.)
contract made by which the Col. A Xeuia road,
including its interest in
Lawrence.-Owus from Lawrence Junction, Pa., to Youngstown, O., the above-named branches, was leased to the Little Miami for 99
years.
On December 1, 1869, the Little Miami, with
18 miles; branch from Canfield Junction to Coal Fields, O., 4 miles; total
all its branches, Ac.
operated, 22 miles. The Lawrence Railroad was leased June 27, 1869, was leased to the Pittsburg Cincinnati A St. Louis Railroad Com
to Pittsburg Fort Wayne & Chicago RR. at 40 per cent on gross
The Pennsylvania Railroad
earnings, pany for 99 years, renewable forever.*
with $45,000 per year guaranteed as a minimum. Lease has been trans¬ Company is a party to the contract and
guarantees its faithful execution.
ferred to Pennsylvania Co., by which the road is now
operated. Gross Road is now operated by Pittsburg Ciu. A St. Louis Railway Co. Lease
earnings in 1884, $204,109; rental, $81,644; gross in 1883, $257,109; rental is 8 per cent on $1,837,300, interest on debt and $5,000 per
annum for Little Miami
net, $135,391; rental and interest, $102,843.
Company’s expenses of organization; the fulfil¬
ment of the lessor’s lease
obligation is also stipulated.
In 1883 the
Lehigh Sc Hudson River.—This road was opened from Greygross earnings were $1,753,824; net, $283,452; lease rental, Ao., of
count, on Erie road, to Belvidere, N. J., 63 miles. August, 1882.
Con¬
solidation April, 1882. of the Lehigh A Hudson River and the Warwick lessee,'$689,232; loss to lessee, $405,780, against $266,015 in 1882.
Valley roads. In addition to above there are $65,000 Wayawanda 6 per
Little Rock Sc Fort Smith.—Owns from Little
cent bonds due 1900 and $53,000 Lehigli & Hudson River 2d
Rock, Ark., to
6s, Fort Smith,
165 miles; branches, 3 miles; total, 168. In Dec., 1874,
due 1909. Stock, $1,340,000. In 1883-84 gross
earnings, $162,795; the
property (then 100 miles), including the laud grant, was sold in
net, $74,242; interest on bonds, $81,802. In 1882-83 gross earnings
foreclosure. This company afterwards built 65 miles, and opened the
$163,780, net, $67,331. Grinnell Burt, Pres., Warwick, N. Y.
road to Fort Smith July 1,1876. Six
Lehigh Sc Lackawanna.-Owns from Bethlehem, Pa.| to Ban¬ were funded into 7 per cent notes. Incoupons of July, 1876, and after
June, 1883, it was proposed to
gor, Pa., 32 miles.
This road was opened in 1867.
It is leased fund into 10 year scrip the coupons
falling due July, 1-83, and Jan¬
to the Lehigh Coal A Nav. Co., and operated by Central RR. of New
uary, 1884, and payoff floating debt, on account of the suits
pending
Jersey. Of the above bonds, $100,000 are a 1st mort., and $500,000 2d in the U. S. Supreme Court
against this and others roads by the holders
mort. Capital stock, $375,100. Gross earnings in
1883, $63,839 ; net, of Ark. State bonds. Payment 0$ coupons in cash resumed
July, 1884. •
$19,315. Gross earnings in 1882, ?53,S39; net, $9,981.
The lands unsold Jan. 1, 1385; amounted to 635,393 acres and land
Lehigh Valley.—Owns from Phillipsburg (Pa. Line), N. J., to notes, $503,586; in 1884, 28,094 acres were sold for $99,090.
In 1884
Wilkesbarre, Pa., 104 miles; branches—Penn Haven to Audenried, gross earnings were $589,071; net. $245,582. In the year 1883 the
18 miles; Hazle Creek Bridge to Tomliicken (and branches), 32
miles; gross earnings were $5/3,490; net, $238,290; interest on bonds, taxes,
Lumber Yard to Milnesville (and branches), 18 miles; Black Creek Junc¬ Ac., in 1884, $225,000; balance,
suipius, $20,000. J. H. Converse,
tion to Mt. Carmel (and branches), 61 miles; Slatedale branch, 4 miles ; President, Boston. (V. 38, p. 30, 509; V.
39, p. 181; V. 40, p. 337.)
Bear Creek Junction to Bear Creek, 11 miles; Lackawanna Junction to
Wilkesbarre, 10 miles; also owns the Easton & Amboy RR., Amboy,
Little Rock Mississippi River Sc Texas.—Owns from Littl
N. J.. to Pennsylvania Line, 60 miles; total
Rock to Arkansas City, 113 miles; Tripps to Warren. 53
operated, 323 miles.
miles; Rob
This is one of the most
important of the coal roads, and was able to Roy Junction to Micawber, 4 miles; total, 170 miles. This com¬
maintain moderate dividends in the years of depression
a
pany
was
of
the
Little
Rock
reorganization
Pine
Bluff
A
1876-79, when
Now Orleans
other companies suspended. Dividends on the ordinary stock have been Railroad and the Mississippi Ouachita & Red River
Railroad.
Both
as follows since 1870:
In 1871, 1872.1873, 1874 and 1875, 10 per cent
those companies received land grants and State aid bonds, and this com¬
pany is involved with others as defendant in the suits by Arkansas State
in 1881,stock
5^; bondholders. The coupons due Jan. 1, 1883, were not paid, and
11882, 6^j; m 1883 and 1884, 8 per cent. Prices of the common
scrip
In Philadelphia since 1877 were as follows: In
1878, 32%®42!4; in was offered to bondholders for two years’ interest to be funded, in order
1879, 3382@55 ; in 1880, 46@57%; in 1881, 57*20*6414; in 1882. 58k® to enable the company to pay off a floating debt contracted in
67%; in 1883, 63®73%; in 1884, 57®717b; in 1885 to Apr! 17, 56a 20 miles of new road built in 1881, and which the directors paid building
for with
60%.
their personal notes. As collateral they took
$400,000 in bonds. The
The fiscal year ends November 30. The last annual
report was in interest on the first mortgage bonds amounted to $130,000 a year. The
the Chronicle, V. 40, p. 303.
It is one of the peculiarities of the net receipts in 1882 were $108,000.
In 1882 gross earnings from
company’s annual report that no general balance sheet is given. The traffic. $321,862; net, $99,601. In 1883 gross earniags were
earnings, expenses and income account for the fiscal years ending Nov. net. $93,177. In 1884 gross, $368,271; net, $25,523. The$416,582;
stock is
30, were as follows:
$3,594,600. ELisha Atkins, President, Boston, Mass.
Liabilities—
Stock
$
50,000,000
$
$
$
50,000,000 50,000,000 50,000,000
37,189,000 38,439,000 44,716,00 > 44,466,000
2,005,335
1,016,005
1,016,005
1,016,005
822,729
1,115,402
2,133,677
2,506,589
4,702,223
4,712,491
4,896,002
4,951,678
Said; in 1876, 9; in 1877, 5h>; in 1878, 1879 and 1880, 4;
1881-82.
$
Earnings—
Coal freight
Other freight
Passenger, mail,
express, Ac
Total gross earnings
Operating
7,158,744
2,269,021
732,304
10,160,069
expenses
Net earnings
1882-83.
1883-84.
•$
7,401,796
1,985,405
830,949
Receipts—
earnings
Other receipts and interest
Total net income
Di8bur8emen ts—
Interest on debt
General, taxes, floating interest,
loss on Morris Canal, Ao
Dividends*
Charged for
accuin.
depreciations
Total disbursements
Balance, surplus
dn 1832,
889.496
10,218,150
6,175,656
8,948,207
5,246,073
$4,326,392
$4,042,494
$3,702,134
1881-82.
1882-83.
$
4,326,392
1,079,243
$
1883-84.
$
4,042,494
1,092,022
3,702,134
1,238,144
5,405,635
$
5.134,516
4,940,278
2,019,734
2,031,675
2,057,207
375,490
2,350,516
554,349
421,920
2,210,378
347,944
473,355
2,372,242
5,300,089
105,546
5,011,917
122,599
$
$
r
4,902,804
37,474
preferred and6^ on common; in 1883, 10 on pre
common; in 1881, 10 on preferred and 8 on common.
60, 87, 201, 203; V. 39, p. 370; V. 40 p. 121. 303.)
ferred and 8
—(V.38, p.
10
6,2u5,282
1,763,429
5,833,677
INCOME ACCOUNT.
Net
$
,
on
on
Little Miami.—Owns from Cincinnati, Ohio, to Springfield' Ohio
branch, Xenia, Ohio, to Dayton, Ohio, 16 miles; leased,
Columbus A Xenia Railroad, Xenia to Columbus,
55
84 miles;
Ohio,
miles;
Little
Scliuylkill.—Owns from Port Clinton to Tamanend, 28
branches, 3 miles; total operated, 31 miles. The East Mahanoy RR., was leased Jan. 12,1863, for 99 years, and sub-leased to Phila.
&
Reading July 7, 1868. The Little Schuykill Railroad is leased to the
Philadelphia A Reading Railroad for 93 years from July 7, 1868, at a
fixed annual
miles;
rental.
Long Island.—Owns from Long Island City, N. Y., to Greenport, N. Y., 95 miles; branches, 87 miles; total owned, 182 miles.
Leased—Sruitlitown A Pt. Jefferson RR,, 19-0 miles; Stewart RR. to Bethpage, 14*5; Stewart RR. to Hempstead, 1*8; New York A
Rockaway
RR., 8-9; Brooklyn & Jamaica RR., 9*6; Newtown A Flushing RR.,
3-9; Brooklyn & Montauk, 67; Manhattan Beach RR., 10 7; N. Y.
Bay
Ridge & Jam., 8*1; L. I. City & Man. Beach, 1-4; Hunter’s Point & So.
Side RR., 1*5 ; Far Rockaway branch, 9*4; L. I.
City A Flushing RR.,
7*8.
Total leased
and operated, 174 miles. The total of all the roads
owned and operated is 354 miles.
The Long Island Railroad went into the hands of a receiver
October,
1877, but in 1381 the company resumed possession. The second mort¬
gage bonds were issued to take up floating debt of various classes.
The control of the company was sold to the “
Long Island Company,’*
controlled by Mr. Austin Corbin and others, in Dec., 1880. In
July
1881, the stock was increased from $3,260,700 to $10,000,000, but the
terms of inert se and price realized on the additional stock
have never
been made 1 >blic. In August, 1881, most of the holders of
Smithtown & Port Jefferson bonds and N. Y. &
Rockaway bonds agreed to
exchange thei bonds for the consolidated mortgage, bearing 5 per cent.
No annual r( ports have been issued and the only information obtained
is from the statistics furnished the State Authorities. The road has been
much improved in its operating department under the
present manage¬
ment and the large rise in net earnings since 1880-81, as also the rela¬
tions with the Brooklyn & Montauk Co , and other details
and status of the L. I. RR. Co. could be
pamph’et report by the compauy.
progress
concerning the
well shown in a
„
STOCKS AND
RAILROAD
April, 1885. J
BON
S
51
Subscribers will confer a great favor by giving immediate notice of any error discovered in tbese Tables.
DESCRIPTION.
Per
explanation of column headings, &c., see notes
on first page of tables.
Long Island—(Continued)—
2d mortgage
Consol, mortgage, gold (for $5,000,000)
New York & Rockaway, guar. int. only
Bmithtown Sc Port Jefferson mortg., guar
Equipment certificates
Long Island Cily <& Flushing—1st M., coup, or reg.
Income bonds (cumulative) ($350,000)
Los Angeles & San Diego—let M. (for $2,800,000)..
Louisiana Western—1st mortgage, gold
Louisville Evansville <£ St. Louis.—1st mort
!
Date
Size, or
Par
of
Road. Bonds
Miles
of
|
156
1878
164
10
19
1881
1871
1871
1881
1881
1880
1881
1880
1882
1881
10%
10%
27
112
255
255
255
....
1880
no
extension, Louisville loan
172
$1,500,000 Lebanon-Knoxville extension mort..
46
Cecilian Branch, 1st mortgage
392
Consolidated 1st mortgage
130
Memphis & Ohio, 1st mort., sterling, guar
83
Memphis & Clarksville br.. 1st mort., sterling
135
Mort. on Ev. Hen. & N., gold
3d mort., collateral trust, gold, sink, fund
1,079
783
10-40 Adj. M., gold, coup, or reg. (red’ble aft. ’94)
141
1st mortgage on New Orleans & Mobile RR
141
2d mortgage
do
do
189
Bonds sec’d by pledge of 2d mort. S.&N.Ala.RR..
208
1st M., gold, on Southeast. & St.L.RR.,coup.or reg.
do
gold, on Southeast. & St. Louis RR., cp.
1880-81
1881-82.
1,000
1,000
1,000
1,000
100
1,000,000
3,000,000
30,000,000
1,000
12,361,000
....
850.000
6
236,000
1,000
1,000
333,000
6 &
6
6
7
7
7
6
6
6
6
6
6
•6
6
3
3,200,000
10,000,000
2,613,000
5,000,000
1,000,000
2,000,000
3,500,000
3,000,000
1.000
1,000
1880
1881
1881
1.000
1,000
1,000
9,024,370
416,153
1,695,177
718,743
271,169
1,946,668
1,756,372
2,417,057
1,576,774
2,685,089
1,683,814
2,756,232
1,859,505
190,296
840,283
1,001,275
896,727
$ "
7
gg.
g.
gg.
g.
g.
Where
\Vhoni.
F. & A. N.
Y., Corbin Bank’g Co Aug. 1,
do
do
do
Q.-J.
A. Sc O.
M. & S.
M. &
Jan.
J. &
J. &
A. &
M. &
Stocks—Last
Dividend.
Payable, and by
do
do
Sept., 1901
N. N.Y., Corbin Bank’g Co.
1
do
do
J. N. Y., Central Pacific.
J. N. Y., Company’s Office.
O, New York and Boston.
S.
do
do
May 1, 1911
May 1, 1931
July 1, 1910
July 1, 1921
1920
1902
1920
April.
F. & A.
J. & D.
A. & O.
Various
A. & O.
M. & S.
M. & 8.
A. & O.
J. & D.
F. & A.
J. & D.
Q.—Mar
M.
J.
J.
A.
M.
M.
& N.
& J.
& J.
& O.
& 8.
& S.
1918
July 1, 1931
April, 1901
do
L. &N.RR., 52 Wall 8t. Feb.* 1, 1882
N. Y., Drexel, M. & Co. June 1, 1930
New York Agency.
1886 & 1887
N. Y., Drexel, M. & Co.
1885-86
do
do
Oct. 15, 1893
New York, Agency.
March 1, 1931
N. Y., Drexel, M. & Co.
Mar. 1, 1907
do
do
April, 1898
London, Baring Bros. June 1, 1901
do
do
Aug., 1902
N. Y., Drexel, M. & Co. Deo. 1, 1919
N. Y., Drexel, M. & Co. Mar. 1, 1922
New York, Agency.
Nov. 1, 1924
N. Y., Drexel, M. & Co. Jan. 1, 1930
New York Agency.
Jan. 1, 1930
N. Y., Drexei, M. Sc Co. April 1, 1910
do
do
March 1, 1921
do
do
March 1, 1980
Nashville, 84 miles; the Pensacola & Atlantic, 161 miles; and the Nash¬
ville & Florence RR., 56 miles (of which 20 miles were under construc¬
1882-83. 1883-84.
8,878,453
386,260
$
1,608,771
634,698
173,583
tion); also, as joint lessee with the Central of Georgia, is interested
the Georgia Railroad and its auxiliaries, 679 miles.
Organization, Leases, &c.—The Louisville & Nashville was chartered
March 2.1850, and opened between Louisville and Nashville November,
1859. The Memphis branch, completed in 1860, was operated in con¬
nection with the Memphis & Ohio and Memphis Clarksville Sc Louisville
roads, which were purchased by the L. & N. The other roads embraced
in the system have been purchased outright or are controlled absolutely
by ownership of a majority of the stock, except those under leases, as
above described. The liabilities for interest are treated mostly as
belonging directly to the Louisville & Nashville Company. The South¬
east. & St. Louis RR., which was reorganized after foreclosure of the
St. Louis & Southeastern, Nov. 16, 1880, is leased to the Louisville Sc
in
Nashville for 49 years, and the L. & N. issues its bonds as above,
secured on the road, about 210 miles long in Indiana and Illinois.
There is also $999,500 of S. E. & St. L. stock. The fiscal year ends
June 30. Annual election is held early in October.
192,748
282.466
92,500
287,698
292,841
200,757
209,059
190,876
Capital stock
9,960,700 10,000,000 10,000,000 10,000,000
Funded debt
2,691,203 4,169,926 5,394,019 5.712.082
Contingent liabilities, &c..1,651,975 1,494,015 2,063,017
*752,619
Lease rentals
Interest and sinking
2,099,080
1,000
1,000
1,000
Passengers carried, No
6,512,270
Freight (tons) moved
339,252
Earnings and Expenses—
$
Passenger earnings
1,237,837
Freight earnings
567,055
Miscellaneous earnings
141,776
earnings
7,070,000
3,500,000
£200
£200
354
9,326,747
448,963
$
1,759,597
720,630
276,005
Net
Pledged.
1,000,000
1,000
1,000
354
Gross earnings
3,900,000
1,000
1872
1879
1882
1884
1880
208
600,000
312,000
556,000
2,240,000
7
5
7
7
7
6
6
6
6 g.
6 g.
7 g.
4
3
6 g.
....
1871
|
1,000
1,000
1,000
352
Expenses and taxes
3,430,000
250,000
600,000
500
500
328
....
Payable
$268,706
$100&c.
1,000
The reports for four years made to the RR. Commissoners gave gross
earnings, &c., as follows:
Miles operated
When
Cent.
1856
1863
1881
1877
1868
....
2d mort.,
Rate per
,
1’’
pal,When Due-
1
Outstanding
Value.
I Bond
INTEREST OR DIVIDENDS.
Amount
100.000
2d mortgage, gold
Income bonds
2,065
Louisville <C Nashville— Stock
802
General mort., gold, coup, or reg. ($20,000,000).
Louisville loan, main stem (no mortgage)
38
Lebanon branch, Louisville loan
,
!
fund..
Stock and Bonds.—At the close of the fiscal year (June 30) 1880 the
capital stock was $9,059,361, and in Nov., 1880, the stock dividend of
100 per cent was made, raising the amoimt to $18,133,513.
In October,
1882, the company listed at the Stock Exchange $3,080,000 stock sold
Total liabilities
14,303,878 16,120,719 17,457.036 16,164,700 by the city of Louisville, raising the stock outstanding to $21,213,513,
*
This item consists in 1^83 of unfunded debt $350,490; profit and loss, aud $3,786,487 more was then listed, raising the amount to $25,000,$556,527, and contingent liabilities (offset by items on other side of 000. In Oct., 1884, the remalhiug $'>,009,000 unissued was offered to
account), $1,250,000, and in 1884 unfunded debt, $177,940; profit and a syndicate at 22ig with the $5,000,000 bonds at 55, raising the stock to
the full limit of $30,000,000. (See V. 39, p. 409.)
loss. $574,679.
All the dividends paid since 1870 were as follows: In 1871, 7 per
There are also Atlantic Avenue Improvement certificates, $28,375, at
7 per cent; real estate mortgage, $238,000, 5s and 7s; time loans. cent; in 1872, 7 per cent; in 1873, 7 per cent; in 1877, l1^ per cent;
$350,000, at 6 per cent. (V. 38, p. 261, 295, 455, 763; V. 39, p. 208, in 1878, 3 per cent; in 1879, 4; in 1880, 8, and 100 per cent in stock;
in 1881, 6; in 1882, 3.
235, 493, 705 ; V. 40, p. 305.)
Long Island City Sc Flushing.—Road from Long Island City to
Great Neck, 14 miles; branches, 8
miles; total, 22 miles.
This is a reor-
f880.
anization
the Flushing
& North
December
11,
Side road,
The of
stock
is $500,000;
Theforeclosed
par, $100.
income bonds
are pay¬
able at will. The company is liable for $25,000 of New York & Flushing
bonds, due 1920. Leased to Long Island RR. for 50 years, the lessee
taking 60 per cent of gross earnings and $17,500 for fixed charges. In
1883-84 gross earnings were about $213,000, of which 40 per cent to
this company was $35,035. In 1882-33 rental was $76,686. Alfred
Sully, President, New York City.
Los Angeles Sc San IMego.—Florence to Santa Anna, Cal., 27
miles. Leased to Cent. Pac., and in 1883 the net earnings paid as rental
and other income was $36,525; Interest, &c
$33,371. Capital stock,
$570,800. Clias. Crocker, Pres., San Francisco.
Louisiana Western.—Owns from Lafayette, #La., to Orange,
Texas, 112 miles, leases extension in Texas, 7 miles; total, 112 miles,
operated under the same control as the Southern Pacific and Galveston
Harrisburg & San Antonio lines, making part of the through line between
New Orleans & Houston. Earnings in 1883, $602,120; net, $249,936.
In 1884 gross, $485,706; net, $2 L6,515. Surplus over interest and all
charges, $65,909. 8tocK is $3,360,000. (Y. 38, p. 196; V. 39, p. 324,
734; V. 40, p. 61, 153, 305, 394, 423.)
Louisville Evansville Sc St. Louis.—Line of road, New Albany,
Ind., to Mt. Vernon, Ills., 182 miles; branches to Jasper <fe Gentryville, 73
,
miles; total, 255 miles; opened for through business Oct., 1882. The
road is the reorganized Louisville New Albany & St. Louis, foreclosed
in 1878. In Oct., 1881, a consolidation was made with the Evansv. Rockport <fe Eastern, with a total capital of $6,000,000. The first mortgage,
as above given, includes
$900,000 of E. R. & E. 1st mortgage bonds,
interest January and July, on which bonds interest was not funded.
There are also $571,475 Car Trust certificates.
In March, 1883,
the 1st and 2d mortgage bondholders were requested to fund four
coupons, viz.: from April 1, 1883, to Mar. 1,1885. In 1883 gross earn¬
ings were $632,928; net, $91,491; rentals, $27,736; interest, $16,251;
surplus, $47,502. In December, 1874, Geo. F. Evans, the General Man¬
ager, was appointed receiver.
Jonas H. French, President, Boston,
Mass. (V. 38,p. 738; V. 39, p. 348, 409; V. 40, p. 28, 92.)
Louisville Sc Nashville.—(See Map.)—Line of Road.—Main
line—Lou isville to Nashville,
185 miles; branches—Junction to Bards-
Prices
of
the
stock from
1872
to
date have been:
In
1873,
50®79; in 1874, 53®59; in 1875, 36!2®40; in 1876, none; in 1877,
26®41; in 1878, 35®39; in 1879, 35®89^; in 1880, 77®174 ; in 1881.
79®1101u; in 1882,46*2® 1003*; inl883,40%®58ia; in 1884, 22H5®51%;
1885 to April 18, 22S>33%.
The general mortgage of 1880 is for $20,000,000, of which $9,716,000
is reserved to pay off prior liens, and the mortgage covers 840
of
road subject to liens amounting to that sum. The L. & N. LebanonKnoxvilie bonds of 1881 cover 110 miles, subject to prior liens, and 62
miles from Livingston to State line as a first lien. The Pen. Sc Atlantic
is a separate company and the bonds are not a direct liability of the
L. & N. Co. The Louisville loan, $850,000, is seoured by deposit of U.
S. 4 per cent bonds; of the Evansv. Hen. & N. 6s, $2,400,000, $800,000
in
miles
are
reserved.
deed of 1332 is made to E. H. Green and
and has a sinking fund of 1 per cent annu¬
ally to begin in February, 1885, the bonds drawn being redeemable
at 110. The bonds are secured by pledge of a large amount of stooks
and bonds belonging to the Louisville & Nashville Company and
held as collateral security by the trustee of the mortgage.
The
The third mortgage trust
John A. Stewart as trustees,
securities pledged were stated in detail in the Supplement up to the
number for August, 1884, the par value of bonds being $9,633,000
and stocks $18,o29,700; total. $28,162,700.
The 10-40 Adjustment mortgage bonds were issued in 1884 at 55,
with blocks of stock at 22^, and cover 783 miles of main line and
branches, subject to the prior liens, and are a second lien on the trust
the trust deed of 1882. Bee V. 39, p. 409.
Co. bonds are not a liability of the L. & N.
Operations, Finances, &c.—The Louisville & Nashville system hav¬
ing been developed in its present extensive form since 1879 has a short
history. The 100 per cent stock dividend declared in 1880 was made
before the working and result of the newly-acquired roads could be
fully developed. But the whole system of roads has been working well
and gaining in traffic as shown by the statistics below for several years.
The unfortunate financiering of 1883-84 led to the charge of $1,005,929
against Mr. C. C. Baldwin, the late President, and occasioned the embar¬
rassment with floating debt in 1884.
securities pledged under
The Henderson Bridge
The income account for first half of the fiscal year—July 1 to Dec. 31—
in 1881, published in V. 40, p. 120 (and revised), was as
-1883.-1884.$7,794 864
Gross earnings
$7,106,220
follows:
town, Ky., 17; Junction to Livingston, Ky., 110; Livingston to Jel(58 p. C.) 4,522,017
3,933,530
lico, Ky., 61; Montgomery to Mobile, 179; New Orleans to Mobile, 141; Operating expenses.. (56-21 p. c.)
branch to Pontchartrain. 5; Paris, Tenn., to Memphis, 259; East St.
$3,272,847
Net profit from traffio
$3,172,684
Louis. Ill., to Evansville, Ind., 161; June., Ill.,toSh£twneetown, Ill., 41;
130,482
Other income from investments.
52,797
Belleville, Ill., to O’Fallon, Ill., 6; Pensacola, Fla., to Pensacola Junction,
Fla., 44; branch to Muscogee dock, 1; Louisville, Ky., to Newport, Ky.,
$3,403,329
$3,225,481
110; Junction to Lexington, 67;. Louisville H. Cr. & W’port. (u. g.), 11; Construction account.
$226,546
$114,678
Selma to Pineapple, Ala., 39; Henderson to Nashville, 135; Junction
2,126,962
2,152,432
to Providence, 16; Pensacola extension, 29; total owned, 1.617 miles; Fixed charges
170,000- 2,523,508
175,000- 2,442,110
leased and controlled—Junction to Glasgow, Ky., 10; Nashville to Taxes
Decatur, 119; Decatur to Montgomery, 183; Junction to Wetumpka, 6;
Surplus...
$783,371
$879,821
Junction to Shelby ville, 19; Louisville Transfer, 4; No. Div. Cumb. <fc
From July 1 to March 1, eight months, gross earnings were $9,360,277
Ohio, 27; Lebanon to Greensburg, 30; Selma to Montgomery, 50;
total leased and controlled, 448 miles; total operated June 30, 1884, in 1884-5, against $9,849,613 in 1383-4; net, $4,034,522, against
2,065 miles. Also owns the Richmond Branch (leased to Kentucky $3,878,593.
The annual report for 1883-84, was in the Chronicle, V. 39, p.
Central), 34 miles, and the Cecilian Branch (leased to Ches. O. & So W.)
46 miles, and controls, by ownership of a majority of the stock, the 380. The c< mparative statistics were as follows for the 2,065 milea
Nashville Chattanooga & St. Louis RR., 554 miles; the Owensboro & operated as the Louisville <fe Nashville RR. proper.
.
.
RAILROAD' STOCKS
S3
MAF OF THE
LOUISVILLE & NASHVILLE
RAILROAD
AND CONNECTIONS.
■
TuitatfesSity
AND
BONDS.
IVOL. XL.
RAILROAD
April, 1885 |
Subscribers will confer a great
Miles
explanation of column headings, &c., see note6
on first page of tables.
Date
of
of
Road. Bonds
Louisville <£ Nashville—[Continued )—
PensacolaDiv., lstmort., gold
Mobile & Montg. Div., 1st M., ($2,677,000)
Pensacola & Selma Div., 1st M., gold ($1,248,000)
Pensacola & Atl., mort., guar., $1,000,000 pldgd.
45
180
104
185
175
175
175
Louiev. Cin. & Lex., 1st mort
do
2d mort., coup., for $1,000,000
L. &N. mort. on L.C.&L., gold, $3,208,000 pldgd.
Car trust liens
Car liens, I.ouisv. Cin. & Lex
Henderson Bridge Co., 1st mort., gold
....
2d mortgage, gold, conp. or reg
General mort. for $3,000,000, coup, or reg., gold.
Louisville New Orleans tfi Texas—Stock
1st moitgage, coup, or reg
Income bonds (not cumulative)
"
Jjykens Valley—Stock
Mahoning Coal.—1st M., coup., guar, by L.S.&M.S.
Maine Central—Stock
1st mortgage, consolidated
Collateral trust bonds for Mt. Desert Branch
Ten-twenty gold bonds
Bonds ($1,100,000 loan) A. &. K. RR..
Extension bonds, 1870, gold
Maine Central loan for $1,100,000
European & North American (Bangor loan)
Leeds & Farmington Railroad loan
1880-81.
$
2,599,353
7,407,403
904,894
Passenger
Freight
Mail, express, Ac*...
Total gross
earnings
Oper’gex. (excl.tax.)
*
1880
$1,000
1881
1881
1881
1867
1877
1881
1882
1,000
1,000
1,000
1,000
100 Ac.
1,000
1,000
1891
1,000
„
_
r
100
0
1880
1881
1883
1884
1,000
1,000
1884
1884
1,000
1,000
1,000
1,000
100
100
....
100 Ac.
1872
1883
1985
1860-1
1870
1868
1869
1871
1866
1865
....
1883-84
$
3,379,178
8,786,574
1,069,163
$
4.013,395
9,233,671
1,104,027
11,987,745
13,234,915
7,429,370
8,099,595
14,351,093
8,823,782
4,558.375
5,135,320
5,527,311
1881-82.
$
1682-83.
$
1883-84
$
4,423,719
4,824,816
5,270,091
5,800,144
52,000
215,384
2,912,327
62.000
67,000
67,000
309,238
3,705,823
339,409
4,053,224
309,450
4,207,228
1,221,692
654,353
110,053
113.090
11,000
10,911,650
6,713,140
Net earnings....
4,198,510
Includes rent, rent of cars and
engines. Ac.
INCOME ACCOUNT.
1880-81.
$
Receipts—
Net inc’me, all so’ces
110,090
Georgia RR. deficit..
6,345
5,854
6,182
8,317
t4,407,748
256,840
J4,847,268
135,008
§4,575,868
114,716,145
1,116,337
Miscellaneous
Total disbursements
Balance, surplus....
722,699
1 $240,869 of this is to be
In the surplus of $256,840.
refunded to the L. & N. Co., and is included
J $157,459 to be refunded, included in sur¬
plus. § $28,400 to be refunded, included in surplus. || $32,338 to be
refunded, include! in surplus.
GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR.
1880-81.
1881-82.
^
Road,equipment,Ac.
Bonds owned
Stks&bds. held in tr’t
Bills & acc’ts. receiv.
Materials, fuel, Ac..
Cash
hand
Bo. &No. Ala. RR...
Nash. & Dec. RR....
Other roads
Car trust funds
Lou. & Kuox.Exten.
C. C. Baldwin acc’t j.
on
^
52,023,723 61,593.923
822,745
763,638
9,495,867
1.010,798
3,598,090
1.164,338
9,527,878
1,713,053
1,655,750
1,257,973
1,419,279
1,191,870 *1,238,517
Total assets....
I/iabili t’i&s
Stock
B’nds (secSiJP’MENT)
Louisville bonds
Debentures
Bills payable
Interest
Dividends
Pensa. & At. RR
Mort. on building...
Miscellaneous
All other dues A ac’ts
Income account
Profit andloss
.
Total liabilities
1883-84.
^
^
67,776,064
688,024
16,904,853
4,050,673
67,385,426
715,773
13,565,852
1,94 »,623
9,527,878
2,011,330
833.112
242,929-
9,527,878
1,922,003'
1,454,904
573,044
921,690
50,000
50,000
1,005,929
50,000
82,464,122
94,222,561
96,324.187
1.276,041
329,348
317,769
504,121
676,159
469,639
1,114,041
71,340,274
1882-83.
762,273
297,316
1,565,968
599,478
1,172,928
579,836
Miscellaneous
.
18,130,913
18,133,513
30,000,000
30 000,000
46,951,840
58,087,778
57,903,230
57,530,712
850,000
643,600
850.000
605,000
850.000
567,400
850,Ot 0
529,800
1,261.723
592,729
526,558
3,599,266
343,644
543,900
430,716
445,359
36,094
475,759
34,933
•
40.000
33,947
931,515
1,205,707
30,000
36,877
1,714,301
1,130,936
1,236,152
777,501
2,762,934
2,067,565
485.222
1,123.970
71,340,274 82,464,122 94,222,561 96,324,187
Including balance due for trust bonds,
t Includes $5,000,000 L. A N. stock unissued.
j An open account, the company claiming that Mr. Baldwin is indebted
.
sum.
—(V. 38, p. 99, 114, 285, 398, 509, 571,678, 706,731 ; V. 39, p. 3, 22,
47, 65, 96. 128, 157; Y. 39, p. 181. 231, 264, 276, 296, 349, 361, 380,
381, 409, 463, 533, 553, 654, 707; V. 40, p. 28. 61, 120, 182, 281, 304,
338, 494. f
Louisville New Albauy Sc Chicago.—Operates from New Albany,
Ind. (opposite Louisville, Ky.), to Michigan City, Ind.,288 miles ; Indian¬
apolis o » Hammond, Ind., 163 miles; leised—Hammond to Chicago. 20
miles; total-operated 471 miles. A lease for 999 years with Chicago A;
Western Indiana at $127,000 per year gives entrance to Chicago.
The Louisville New Albany A. Chicago was opened in 1852 and sold
n foreclosure Dec. 27, 1872, and reorganized without any bonded debt.
In Aug., 1881, consolidated with Chicago & Ind. Air Line, and stock
increased to $5,000,000, giving 15 percent increase to stockholders of
record Aug. 31.
In 1880 the company sold the $3,000,000 of first mort¬
gage HomcIs to the stockholders at 20 cents on the dollar.
In 1883 the
2d mortgage bonds were issued, payable in 1888. The new mortgage
bond- fur $3,000 000 were authorized in 1884, and $1,000,000 is
reserved to pay off the 2d mortgage. Fiscal year ends Dec. 31. The
annual returns for 1883 were furnished the Chronicle and published in
*.38, p. 619. Earnings, expenses and income were as follows :
Bonds
2,000.000
2,850,000
892,000
50,000
.
1,557,000
M.
M.
M.
F.
J.
A.
M.
A.
Stocks—Last
Dividend.
X.Y., Drexel, M. A Co.
New York Ageuev.
& N.
S.
A. N.
J. N.
O.
N.
Mar. 1,
do
New York
do
1907
Nov. 1, 1931
1884-89
Agency
Philadelphia.
0.
1884-88
6 g-
M. &
6
6
6
6
J. A J.
F. & A.
F. & A.
A. A 0.
g.
g.
g.
g-
5
6
M. A
1,100.000
496,500
756,800
1,000,000
633,000
)
New York.
Sept. 1, 1931
N.Y., Nat.Bk.Commerce
July 1, 1910
Aug. 1, 1911
Feb. 1, 1888
April 1, 1914
S.
do
do
do
do
do
do
S.
New York, Office.
do
do
New York. Treasurer.
Q.-J.
J. & J. N. York, Union Trust Co.
F. & A.
A. A O. Boston. 2d Nat. Bank.
J. & D. Bost.. Am.LoanA Tr.Co.
August.
2Lj
1.500,000
3,603,300
4,169,600
5
3
5 & 7
5
6 g6
6 g.
7
6
6
6
6
5
....
M’nthly Boston, 2d Nat. Bank.
Sept. 1, 1934
Sept. 1, 1934
Jan. 2, 1885
July 1, 1934
Feb* 15,1885
April 1, 1912
June 1,1923
1895-1905
1890 to 1891
do
do
Oct., 1900
do
A J.
do •
July, 1898
A J. Bost., Mereh’ts’Nat.Bk. Jan. 1, 1894
A J. Boston, 2d Nat. Bank,.
July, 3.891
do
do
Q.-J.
July, 1891
do
A. & O.
do
April 3, 1895
M. A N. Manchester and Boston.) Nov. 1. 1884
A. & O.
J.
J.
J.
1382.
Total gross earnings
Operating
Net
expenses
and taxes
earnings
1,009,537
1,237,848
$373,437
$390,035
$373,437
$390,035
105,696
$373,437
$495,731
$98,035
$106,245
393,820
income account.
Total income
Disbursements—
Rentals paid
on
1883
$1,382,974 $1,627,883
Receipts—
Net earnings
Other receipts
Interest
1920
May 1, 1931
do
do
Mar. 1, 1931
Y.. Hanover Nat.Bk.
Aug., 1921
Y., Drexel. M. A Co. j Jan., 1897
....
2,000,000
5,000,000
3,000,000
2,300,000
855,000
2,000,000
4,5=10,000
425,000
1,166,700
1,000,000
A S.
&
A
A
A
A
&
Payable, and by
Frinol.
pal,When Due.
Whom.
debt
318,010
25,000
Miscellaneous
9,822
$141,035
Balance, deficit
Wm. Dowd, President, New
296; V. 40, p. 363.)
York.
$67,598
(V. 38, p. 595, 618
$509,687
$13,956
; V. 39, p.
Louisville New Orleaus Sc Texas—(See map)—Line of road
Memphis, Tenu., to New Orleaus, La., 455 miles. This road was built in
the interest of the Huntington system of roads, and forms the connect¬
ing link in that system across the Continent from Norfolk to San Fran¬
cisco
The present company was organized Sept. 5. 1884. The road was
opened for through business OC\ 13, 1884. The income bonds are a first
mortgage on 750,000 acres of land in the Yazoo Delta. The company
owns a controlling interest in the Mississispi A Tennessee Raiiroad.
Mr.
R. T. Wilson, President, New York.
(V. 39, p. 234, 311, 316, 454, 606 ;
Y. 40, p. 363.)
Lykens Valley,—Owns from Millersburg, Fa., to Williamstown,
Pa., 20 miles; branch, 1 mile; total operated, 21 miles.
It is a
coal road leased and operated by the Northern Ceutral Railroad since
July, 1880, and previously by the Summit Branch RR. The lease is for
999 years from March 1, 1866, and the rental is $62,500 per annum.
Mahoning Coal,—Owns from Andover, Ohio, to Youngstown,
Ohio, 38 miles; branches to coal mines, 5 miles; total operated, 43
miles. It was opened May V, 1873, and leased for 25 years from that
date to L. Sli. A Mich. So. RR., at 40 p. ct. of gross earnings. July 1,’84.
leased in perpetuity to Lake Shore at 40 p. ct. of earnings. Tie 7 p. ot.
bonds were taken up and 5 p. ct. bonds for same amount issued. $400,000
in preferred stock was also authorized, with 5 p. ct. dividend per annum
guaranteed by L.S. A M.S. R’y Co., to pay unfunded debt. Com. stock is
$1,373,000; pref stock is $363,050. Rental for year 1884, $96,950.
Maine Central.—Mileage as follows: Mainline, Portland to Ban.
gor. Me., via Au usta, 136 6 miles; branches, Cumberland .Junction to
Skowliegan, i<0 7 miles; Bath to Farmington, 71*2 miles; Crowley’s
Junction to Lewiston, 4*7 miles; total owned, SOT 2 miles. I-casea—
Burnham Junction to Belfast, 33 1 miles; Newpoit Junction to Dexter,
14 miles; Brewer Junction to Bucksport, 181 miles ; Bangoi to Vanoeboro, 114-1 miles; Penobscot Switch to Mt Desert Ferry, 41-7 miles ;
total leased, 221 mil js
Total operated, 524 2 niiDs.
This was a consolidation in 1862 of the Androscoggin A Kennebec
Railroad and the Penobscot & Kennebec. In August, 1873, the Port¬
land A Kennebec, Somerset A Kennebec and Leeds A Farmington rail¬
roads were also consolidated with the Maine Central.
The annual report was published in V. 39, p. 630.
the fiscal year was changed in 1881 from Dec. 31 to
The ending of
Sept. 30. The
report had the following:
FISCAL
....
*
to it in this
6 g.
6 g.
6
6
7
7
6 g.
6
$600,000
Pledged.
Pledged.
Where
Total disbursements
Disbursements—
Rentals
Taxes
Interest on debt
Divides on L. A N., N.
AD. and M. AM...
Timber <fc quar. lands
Stocks owned
Payable
600,000
100 Ac.
500 Ac.
100 Ac.
500 Ac.
100 Ac.
100 Ac.
100 Ac.
100
1882-83.
When
Cent.
744.000
....
1,000
$
Rate pei i
9,100,000
600,000
1,000
discovered in these Tables.
INTEREST OR DIVIDENDS.
Amount
13,650^000
20
....
1884
S3
any error
82,632
....
1881-82.
3,007,465
8,050,339
929,941
BONDS
Value*, Outstanding
....
55
18
109
56
36
30
71
26
Portland & Kennebec, consolidated mortgage....
Manchester dk Lawrence—Stock
or
Par
....
....
Androscoggin Railroad, Bath City loan
Size,
....
471
288
158
446
451
455
455
455
21
43
482
304
41
Louisville New Aioany <£• Chicago—Stock
1st mortgage, gold, coup, or reg
Mort., gold, on Chic. & Ind’polis Div., coup, or reg
Earnings—
AND
favor by giving immediate notice of
DESCRIPTION.
For
STOCKS
Earnings—
Passenger
Freight
Mail, express, Ac...
188<’-81.
$772,833
1,003,854
100,392
RESULTS.
188-82.
1832-83.
earnings. $1,877,079 $2,077,094 $2,835,494
Exjienses and taxes.
1,229,357
1,359,373
1,839,707
Total gross
Net
earnings
$647,722
1833-84.
$895,989 $1,147,207 $1,19~,413
1,541,961
1,475,845
1,067,716
113,389
146,326
143,115
$717,721
$2,816,373
1,750,710
$995,787 $1,065,163
INCOME ACCOUNT
Net earnings
Other receints
$647,722
$717,721
1882-83.
1883-84.
$995,787 $1,06 ,663
29,121
10,421
Total income....
Disbursements—
Rentals paid.
Interest on bonds...
$656,378
$723,089
$1,024,908
$1,076,084
$54,000
$54,000
$182,958
$1«9,000
Receipts—
1880-81.
8,656
570,466
Dividends
1881-82.
5,368
569,542
71,822
64*.146
197,522
661.395
215,532
$1,024,626 $1,06\927
$282
$10,t57
-(V. 38, p. 434; V. 39, p. 553, 680; V. 40, p. 61.)
Manchester Sc Lawrence.—Owns from Manchester, N. n., to
Methuen (State Line), 22*4 miles;
leased, Methuen Branch of the
Boston A Maine Railroad, 3% miles; total operated, 26 miles.
Road in
operation since 1849.
Formerly operated with the Concord RR.
one line,
of joint earnings. Methuen branch la
as
on a division
leased at a rental of $11,000 per annum. Company lays claim to a twofifths interest in the Manchester & North Weare RR., which is operated
Total
Balance
disbursed
$624,466
$31,912.
$695,364
$27,725
BAILROD
STOCKS
AND
BONDS.
(Vol.
XL.
STOCKS
KA1LK0AD
April, 1885. J
Subscribers will confer a great favor by giving
DESCRIPTION.
Fof
explanation of column headings, &c., see notes
on
'
first page
of tables.
Date Size, or
of
Par
Road. Bonds Value.
$....
Manhattan (Elev)—Consol, stock,
....
14
....
.
($20,000,000) —
118872--3904..5 18-9243.
M. H. & O. 1st
.
mortg. on Mar. & West
.
Memphis d Charleston—Stock
1st mortgage, Ala. & Miss. Div.(extcnded in 1880)
2d mortgage,
extended
2d mortgage
Consol, mort., gold (1st
Consol, mortgage, gold
18
135
135
50
90
t
lien on 91 m. in Tenn.)
—
.
.
.
328
181
Miehxgan Central— Stock
Consolidated mortgage ($2,000,000 are 5s)
Michigan Air Line mortgage...
-
Michigan Air Line 1st mort., assumed by M. C—
....
.
.
.
.
....
....
1872
1878
1883
1,000
1,000
100
100
100 &c.
1,000
1,000
25
1854
1868
1877
1877
1877
1877
1881
Outstanding
$4,680,000
300,000
500,000
250.000
1,000,000
200,000
23,087,065
10,818,000
3.000,000
7
J.
3^2
1*2
8
6
6
Annually.
Y., Corbin Bank’g Co Jan. 1, 1897
M. & S. N. Y., Corbin Bank’g Co
J. & J.
do
do
New York, Office.
Q.-J.
J. & J. N. Y., Mercantile Tr.Co
M. & N.
do
do
J. & J.
do
do
7
7
2,259,026
1,427,500
576,200
1,013,000
1,400,000
1,000
864,000
l,000&c
250 &c
1,000
1,000
100, &c.
1,000
’81-’82
1,000
1884
1885
100
1,000
1,000
1.000
Manhattan Beach Co.—A consolidation under the above title
made in February, 1880, of the New York & Manhattan Beach
Oct.
& J. N.
7
8,500,000
3,398,000
390,000
606,000
....
was
Bonds—Princi
pal,When due.
Rate per When Where Payable, and by
Slocks—Last
Cent.
Whom.
Dividend.
Payable
6
6
7
4
1,000
bv Concord RR. Ten per cent dividends are paid. The fiscal year ends
March 31. Gross earnings in 1883-84, $183,086; net, $100,667. In
1882, gross, $180,498 ; net, $100,255.
discovered in these Tables.
INTEREST
Amount
1,264,000
...
1872
1870
1870
any error
'
F.
J.
M.
J.
2ic
5,312,725
....
....
55
& A.
& D. Boston, N.
& S.
do
& D.
do
March, 1909
July, 1896
April
1, 18851908
Nov. 1, 1899
July.
Jan. 1. 1906
In 1883
Aug. 15, 1884
Eng. Tr. Co.
do
do
June 1, 1892
Mar. 1, 1908
June 1, 1923
1,400,000
....
....
272
292
292
133
133
270
103
10
1,000
....
....
1,468
500 &c.
100
500 &c.
500 &c.
100
1878
1879
1876
....
Memphis <£ Little Ilk —1st preference mortgage
General mort., land grant, (s. f. $10,000 after ’82)
Mexican Central (Mexico.)— 1st M. ($32,000 p. m.). 1,340
Income bonds, conv., not cumulative, reg
Coupon notes for interest funded
Ten year debentures (secured by collateral)
1
Mexican National Railway (Mexico).—1st M., gold..
....
1879
.
4
32
14
Metropolitan Elevated. 1st mortgage
2d M. (guar, by Manhat’n).
do
N. Y. Elevated, 1st M. (payable at 105 after 1896)
.
Marquette R. <£ O.—Common stock
Preferred stock
1st mort., M.& O., coup.
M. H. & O. mortgage.
Bonds for Extension, &c
.
1877
BONDS.
immediate notice of
Miles
of
Manhattan Beach Co.-Stock
N. Y. Bay Ridge <fc Jamaica RR., stock, guar
N. Y. & Man. Beach RR., 1st mortgage
do
pref. stock
Man. Beach Impr. Co. (Limited), mortgage bonds
N. Y. Bay Ridge & Jam. RR., 1st mort. (guar.)...
AND
250,000
2,600,000
36,874,000
7,641,000
3,840,000
2,700,000
24,330,000
18,738,204
10,000,000
1,900,000
200,000
-
.
J.
7
7
7
7 g.
7 g.
8
8
7
J.
N.Y.,W. R. Brown&Bros,
Jan. 1. 3 915
...
& J. N.Y.,W. H.
& J.
do
& J.
do
M. & N.
J.
J.
J.
Tanu’rjJ.
3
10
10
0 g3
7 & 5
8
8
&
& J.
July 1
J. & J.
A. & O.
A. & O.
!
F. &
M. &
J. &
M. &
Browu&Brosj
do
do
Jan. 1, 1885
Jan. 1, 1916
Jan. 3, 1916
May, 1883-84
July, 1907
Boston,
July 1, 1911
do
July 1, 1911
do
July 1, 1889
do
April 1. 1895
N. Y. Office, 32 Nassau. July 1, 1912
A. Grand Central Depot.
N. N. Y., Union Trust Co.
J.
do
do
N.
do
do
Feb.
1. 1884
May 1,19C 2
Jan. 1,189o
Nov. 1, 1890
State lien for $1,736,906,
assigned to a trustee, and these are usually
quoted higher than the other consolidated bonds.
In Sept., 1883, a majority of the stock was obtained by parties interested
in the East Tennessee Virginia & Georgia RR.
The anuual report for the year ending June 30, 1881, was in V. 39, p.
552. Gross earnings in year ending June 30, 1884. $1,394,019 ; net,
$435,911; interest on bonds and floating debL $354,699; surplus*
$81,212. (V. 39, p. 349, 552, 581; V. 40, p. 61, 363, 394.)
Memphis Sc Little Rock,—Owns from Little Rock. Ark., to Mem¬
phis. Tenn., 135 miles. Default was made Nov., 1872, and the property
sold in foreclosure. The new company also defaulted, and the road was
sold and reorganized April 28, 1877. The stock is $1,500,000. Thfr
company had a land grant from Congress of 1,000,000 acres. In April,
1880, control of this company was purchased by parties in the interest
Railway, the Manhattan Beach Improvement Company and the Marine
Railway Company. The stock of the new company, amounting to
$4,680,000, embraces the stocks of all the other companies converted
into it, and the Manhattan Beach Co. holds those stocks in its treasury,
(except the New York & Manhattan Beach Railway preferred stock),
as also $300,000 2d mort. bonds of the New York & Manhattan Beach
RR. The New York Bay. Ridge
Jamaica Railroad is leased and the
bonds and stock are guaranteed. In December, 1881, a lease of the
New York & Manhattan Beach Railway was made to the Long Island
Afterward default was made on
RR. for 35 p. ct. of gross earnings to the lessor, but the sum of $97,500 of the St. Louis & Hon Mountain.
per vear is guaranteed to pay all annual charges. The annual report the coupons and bondholders were offered a 6 per cent bond in place
for 1882-83 was in V. 38, p. 146, showing gross receipts $239,36'), and of the 8 per cents, which was declined.
In April, 1884, a receiver was
surplus over expenses ana charges, $34,595. In 1881-82 gross earnings appointed, and the property is now in hands of trustees of the general
were $249,455, and surplus over expenses and fixed charges, $23,398.
mortgage. About $250,000 is in possession of the Court awaiting result
of the litigation between
and the company. The preference
-(V. 38, p. 146.)
&
bondholders
Manbattau Elevated.—Road operated, 32-34 miles.
This was
a
corporation formed (Nov. 24, 1875) to lease and operate the two elevated
railroads in New York City.
Its capital stock was $13,000,000, and
it was to pajT the interest on the bonds of the two elevated roads
and certain dividends. The original lease of May 20, 1879, guaranteed
10 per cent per annum on the stocks, but this lease was amended in
October, 1881, by agreements among the three companies, which were
supplemented by an agreement of Nov. 14, 1881, for the surrender of
the stocks of the other companies, and the issue of new stocks by the
Manhattan Company, but this was never accepted by the Metropolitan
stockholders, and, after litigation, it was decided against the Manhattan.
In June, 1884, a new compromise agreement was made by which a 1 lia¬
bilities were assumed, and new stock was to be issued by the Manhattan
Company, and apportioned as follows:
Old.
New
Manhattan
$13,000,(00® 85
$ll,0f0,000
New York
6,500,0005)120
7,800,000
Metropolitan
6,500,000® 110
7,150.000
.....$26,0 0,000
$26,000,000
agreement was ratified by the stockholders of the three com¬
panies July 31 and Aug. 1, 1884, and the new stocks, so far as issued in
Total
This
exchange,
There
was
listed at the Stock Exchange Aug. 7, 1884.
large claims pending against the elevated roads for damage
to property on their lines, and many of these are before the courts.
For the quarter ending Dec. 31,1884, gross earnings were $1,750,842,
against $1,743,829 in 1883 ; net $847,262, against $748,738.
are
The report for year ending Sept. 30 showed the following
Gross
earnings
Operating expenses
Net earnings....
Interest
on
bonds, and rentals
Balance.
Deduct dividends
1884.
income:
1883.
$6,726,359
3,881,949
$6,386,506
3.756,828
$2,841,410
1,381,713
$1,459,697
1,170,000
$.89,697
$2,"6297678
1,384,080
$1,245,598
390.000
$855,598
The following is a statement of the number of passengers carried on
the elevated railroads in New York, and the gross earnings, since the
completion of the roads:
Passengers.
Earnings.
Earnings.
Passengers.
86,361,029 $5,973,633
46,045,181 $3,526,»25
6.386.506
92,124,943
4,612,976
60,831,757
1881-81.. 75,585,778
96,688,992
6,723.832
5,311,076
-(V. 38, p. 229,424, 479, 571, 620, 679, 706, 763; V. 39, p. 22, 96, 128,
157, 209, 409, 434, 606, 681, 705 ; V. 40, p. 61, 241, 337.)
379, 479, 540; V. 39, p. 157.)
Mexican Central (Mexico).—On Dec. 31, 1884, the mileage was
Main line from Mexico City north, to El Paso del Norte 1,225 miles
96 miles on Tampico Division, 11 miles of Guanajuato Branch, and 16
miles on the Pacific Division, had also been built, and a short branch 7
miles to stone quarry, making a total of 1,354 miles. Whole line when
completed will be (1) the main line, from the City of Mexico to El Paso;
(2) from Tampico westerly through San Luis to the main line; (3)
from the main line to the City of Guadahyara, and thence to Pacific
Coast at San Bias.
The company was incorporated Feb. 25,1880,
of Massachusetts, and by transfer the company
the Mexican Government, granted Deo. 5,1874,
under the general law
holds the charter from
for
a
road from Mexico
City to Leon, and by modification including lines to Paso del Norte.
Guadalajara and Laredo. The company also has other rights granted
by the State of Chihuahua.
The company lias a subsidy from
the Mexican Government of $15,200 per mile on most of the lines,
which the Mexican Goverment issues to the Co. as the road is accepted,
in “ certificates of construction of the Central R’y, to be redeemed with
6 per cent of all duties produced at the maritime and froutier custom¬
houses of the Republic.” The income bonds are convertible into stock
at par. The stock is $31,362,900.
In June, 1884, it was decided to pass the interest due July 1, and to
ask bondholders to fund three coupons July 1, 1884, to July 1, 1885, in¬
clusive, amounting to $3,840,375, for which 10 per cent coupon notes
maturing in five years were offered, secured by deposit of the coupons*
and by an amount of Mex. Gov’t subsidy certificates equal to the prin¬
cipal and interest of the coupon notes.
The total amount of 1st mort.
bonds issued stood Dec. 31. 18 84, at $42,850,000, of which $5,976,000
were in hands of company or trustees, or held as collateral.
In Dec., 1884, the stockholders were asked to subscribe $2,700,000
for ten-year debenture bonds, bearing 10 per cent interest, and secured
by deposit in trust of $1,000 1st mortgage bond and $2,000 in subsidy-
certificates for each $1,000 debenture. See Circular, V. 39, p. 733.
The annual report for 1884 was in V. 40, p. 451, giving the earnings
and expenses from July 1 to Dec. 31,1884, while operated as a oomr
pleted line by the company. Gross earnings for the six months were
$1,525,461 and operating expenses $1,028,624, leaving $196,837 as net
earnings in United States currency. (V. 38. p. 60, 148, 203, 314,332,
359, 424, 454, 679. 706, 763 ; V. 39. p. 43, 96, 409, 435, 733; V. 40, p.
269, 356,451, 454.)
Mexican National
Railway’(Mex.)-Jan., 1885, road built from
Corpus Christ! to Laredo (Texas & Mexican RR.), 161 miles; Laredo to
Saltillo, 235 miles; Matamoras Div., 76 miles; branches, 22 miles; total
Northern Division, 494 miles; City of Mexico to Morelia, 235 miles;
Marquette nought on Sc Ontonagon.—Owns from Marquette
Mich., to Houghton, 95 miles; branches, 40 miles; total operated, 135 Acambaro to San Miguel. 76 miles; El Salto line, 51 miles; Manzanillo
miles. Has a land grant of about 80,000 acres. This was a consolidation to Armeria. 29 miles; branches, 25 miles; total Southern Div., 410 miles;
Aug. 22,1872, of the Marq. & Ont. R’y and the Houghton & Ontonagon total road finished, 910 miles. Built by the Mex. N «t. Construction Co.*
Railway, and in 1883 consolidated with Houghton & L’Anse Railroad which receives a subsidy of $11,270 per mile of road secured by 6 per
and completed the extension from L’Anse to Houghton. In March. 1885, cent of the Government receipts from customs; the subsidy earned to
purchased the Marquette & West, road, 27 miles, and issued therefor the Jan., 1885, was $7,022,552, of which had been collected to Sept. 30.
above $1,400,000 bonds and $600,000 of common stock
The business 1884, $1,653,349. Bonds for $1,000 with stock for $1,000 were issued
consists largely of the transportation of iron ore, and in 1883 fell off for $1,050 cash.
Stock outstanding June, 1884, was $25,875,000; par
considerably. The annual report for 1883 was published in Y. 38, p. $100. Coupons of April 1, 1884, were passed and the funding of six
618, and the income account showed a surplus of $33,169 over interest coupons was proposed to bondholders. Of the bonds $19,330,000 have
payments and 8 per cent dividends. Operations and earnings have been: interest A. & O., and $5,000,000 J. & J. To Jan., 18y5, the bonds actuallyNet
Freight (ton)
Gross
Passenger
sold were $19,054.500; used for bond to Mexican Government and U. 8.
Years. Miles.
Earnings. Custom House, $543,000; held as collateral for the $2,000,000 loan
Mileage.
Mileage.
Earnings.
99
$579,966 and floating debt, $4,732,500; total, $24,330,000. Gross earnings
$2,702,8^4
$31,050,684 $1,152,793
2,616,175
23,488,679
902,159
392,335 on No. and So. Divisions for the nine months ending 8ept. 30,1884, were
—(V. 38, p. 136, 202, 618; V. 39, p. 182; Y. 40, p. 304.)
$1,012,580; net, $92,188. W. J. Palmer, President, New York. (V. 38, p.
203, 314, 359, 424, 540, 706; V. 39, p. 264.)
Memphis Sc Charleston,—Owns from Memphis to Stevenson,
Michigan Central.—Line of Road.—Main line—Kensington to
Ala., 272 miles; branches—to Somerville 13 miles, to Florence 5
miles; leased, Stevenson to Chattanooga, 40 miles; total operated, 330 Detroit, ^70 miles; and Windsor to Suspension Bridge (Can. So.). 226
miles. This road was leased June 2,1877, to the East Tennessee Vir¬ miles; total main line, 496 miles. Branches owned and leased—Mich.
ginia & Georgia Railroad for twenty years from July 1, 1877. Of the Air Line RR., 115; Jol. & No. Ind., 45; Grand River Valley, 84; Jack.
consolidated mortgage, $1,400,000 are secured by the old Tennessee La & Sag., 295; Kal. & So. Hav., 40 ; Det. & Bay City, 147; Sag. Bay
Miles
of
Size,
Date
of
or
Amount
Par
explanation of column headings, &c., see notes
Outstanding
Road. Bonds Value.
on flrst page of tables.
Michigan Central—(Continued)—
M. C. bonds, mort. on Grand River Valley RR.
82
39
39
84
84
145
145
116
..
Kalamazoo & South Haven, 1st mort., guar
do
do
2d mort., guar
Grand River Valley, stock, guar
do
1st mort., guar
Detroit & Bay City 1st mortgage, endorsed
Mort. on Detroit A Bay City Railroad
Jackson, Lansing A Saginaw 1st mort
1 st, mortgage
do
do Cons. m. on whole line (300m.)
do
do
do
Michigan £ Ohio—1st mortgage, gold
Middletown TJnionvillt £ Water Gap—1st mortgage.
do
2d mort. (for $400,000)
do
Milw. Lake Shored West—Consol, mort., gold
Income bonds (not cumulative)
_
236
298
154
13
346
•
•
.
66
$3,000,0u0)...
Ashland Division, construction notes
St. Paul East A Grand Trunk, 1st mortg
1,000
100
....
1866
1872-3
1,000
1881
1,000
1865
1867
1871
1880
1883
1,000
1,000
1,000
.
•
•
•
•
•
.
•
•
•
-
1.000
1,000
1,060
*
250,000
4,350.000
600,000
240,000
1,015,0(0
500.000
65
126
3.37
27
93
15
102
360
1882
1882
18*4
1880
1884
1,000
1,000
1,430,000
1,000
2,155,000
1,000
1,598,000
6
50
1,000
4,022,500
455,000
3*3
1877
1877
1877
1879
1882
purchased for the Michigan Central, which leased it and put a mortgage
on the road.
The other lines described above as leased are all held bv
the Michigan Central nominally under leases at fixed rentals, but are
STactically owned. The land grant came from the Jackson Lansing &
aginaw company as stated below. In Nov., 1882, a close contract was
made with Canada Southern for working its road by the Michigan Cen¬
tral and the division of net profits over all charges—one-third to Canada
Southern and two-thirds to Michigan Central.
Stocks ani> Bonds—The Michigan Central stock lias remained at the
same amount since 1873.
Prior to 1873 it was a regular 10 per cent
stock. In 18 72-73 paid 5 per cent and 4 in scrip, but afterward paid
no dividend till 1878, and since then irregular amounts.
Since 1870
dividends have been: In 1870-71, 10 per cent; 1871-72. 10; 1872-73,
5 and 4 in scrip; in 1878, 2; in 1879, 3q>; in 1880, 8; in 1881, 6^; in
1882, none paid; in 1883, 5 ; in 1884. 3. The range in prices of the stock
has been as follows: In 1871, 114@126; in 1872, 1135)120; in 1873, 65
'@111; in 1874, 681e@9512; in 1875, 53@82*4; in 1876, 3458@65^9; in
1877, 3558@7414, in 1878, 58^@75 ; in 1879, 73%@98; in 1880, 75@
130ie; in 1881, 84V@120; in 1882, 77@105; in 1883, 77@1001q; in
1884, 5l%@9412: in 1885, to April 18, 54@64ia.
The Jackson Lansing A Saginaw 1 ebt is assumed by Michigan Central,
which also pays $70,000 per year on the stock of $2.000,000; the pro¬
ceeds of J. L. & S. lands go to pay bonds, and in 1883 sales amounted
to 12,258 acres, for $88,824 ($105,339, includ. timber), leaving 320,999
acres, valued at $2,407,490, and land notes on hand, $555,559.
Operations, Finances, Ac.—The Michigan Central paid 10 per cent
dividends regularly till 1873, but becoming liable afterward for heavy
obligations on leased lines, the company suspended dividends. The
road on through business is much affected by the competition between
Chicago and points eastward, and by the rates on through freights
An article in the Chronicle, Yol. 37, p. 708, gave an exhibit of the
earnings of the Michigan Central and the Canada Southern for six years
past, and the surplus yearly applicable to dividends. For the first year
of working together—1883-the traffic earnings and expenses of the
combined system showed the following increase over the year 1882:
Earnings,+1,679,700 increase; expenses, $ 72,700 increase; and tin*
resulting increase in net earnings $1,207,000. As a net result of the
joint operation of the roads ihe Michigan Central had $1,290,842
applicable to dividends and paid the Canada Southern $611,570.
At the meeting of the Michigan Central and Canada Southern direc¬
tors in December, 1884, no dividend was declared, and the following
statement, for 1884 was submitted, December being partly estimated :
18*4.
1883.
$14,009,767
9,741,638
Operating expenses and taxes
Net earnings
Deduct interest and rentals
$4,268,129
$2,720,000
$1,834,713
$80,000
2,433,416
Balance
Mieli.
$11,721,000
9,001,000
2,610.000
$1,724,292
$110,421
Surplus
Two-thirds to Michigan Ceutral
One-third to Canada Southern
$80,000
$53,333
6 g6
7
7
7
7
6
950,000
280.000
1,015,000
4,000,000
1,000
flcted
852. The
road Detroit
and completed
A Bay City
theroad
whole
Detroit Feb.
to Kensinirton,
in
wasline,
foreclosed
12, 1881, and
g5 B£•
5‘JO.OOO
100,000
500 Ac.
1.000
1.000
Can. So. Br. Co., 4; Mich. Mid.
branches, 96 ; Sarnia Clmt. A Erie, 7; Erie &
Niagara, 31; Niagara River branch, 14; total branches, 968 miles;
total operated, 1,468 miles.
Organization, Leases, Ac.—1The Michigan Central was chartered in
1846 and purchased of the State of Michigan 144 miles of coin
Gross earnings.
6
(?)
So. A Det., 56;
Dividends paid in 1883—6 per et. to
Cent, and 4 per cent to Can. South
171,000
1 943,000
1,100,000
2,630,000
150,000
1,000
18-4
1884
8
5
8
8
8
6
6 g.
7 g*
7
6
6
8
6
8
3,576,000
1,106,000
1,000
•
2*3
8
424,000
•
1,000
1866
1871
1881
1881
1882
6
8
8
640.000
70.000
491,200
1.000,000
1,000
1869
1870
Rate per
Cent.
$500,000
1879j $1,000|
*56
Milwaukee £ Lake Winnebago— 1st mortgage, gold.
Income bonds, gold (cumulative)
Debentures, gold
Milwaukee £ Northern—1st mortgage
Bonds for $S,000,000 ($2,155,000 are reserved)..
Mine Hill £ Schuylkill Haven—Stock
Minneapolis £ St. L.—1st M., Min. to Merriam June.
1st mortgage, Merriam Junction to State Line ..
lsr mortg., Minneapolis to White B. Lake, guar..
1st mortgage, gold, coup. (Al. Lea to Fort Dodge)
Improvement and equip, mort
& No. W., 25; Tol. C;m.
& Can., 15 ; Canada So.
$80,000
1883 in V. 38, p. 569, had the following:
earnings and expenses.
1S80.
Earnings—
Passenger
Freight
Mail, express, Ac
$
2,461,771
6.195,971
1881.
$
2,812,706
1882.
$
1883.
•$
293,633
5^6 / O7 / 31
312,050
3,146,309
5,426,455
340,317
4,007,548
9,472,36*5
529,853
Total gross earngs...
Total oper. expens...
8,951,375
5,738,751
8,800,487
8.913,081
14,(09,767
6,732,096
6,671,726
9,741,63-
Net earnings
P.c. op. exp.toearn’gs
3,212,624
2,068,391
2,241,355
4,268,129
64*11
76-50
74-85
69-53
INCOME ACCOUNT.
1882.
2,241,355
134,374
$
2,068,391
133,845
127,951
4,268,129
67,701
3,346,998
2,202,236
2,369,306
4,335,830
$
EeeeiptsNet earnings
Int’stand dividends.
Total income...
.
3,212,624
g.
g.
g.
When
N. Y., Union
do
do
do
do
do
do
do
do
do
do
A S.
M.
M.
M.
J.
J.
M.
M.
J.
J.
M.
M.
M.
A N.
A N.
A J.
A J.
A N.
A S.
A J.
A J.
A 8.
A S.
A N.
....
m
m
m
Dividend.
Whom.
Payable
1909
Trust Co.
do
do
Company’s Office.
Middleto’n,N. Y.,lst N.B
Jan., 1885
July 1, 1886
May 1,1902-3
Mar. 1, 1931
July 1, 1885
July 1. 1885
Sept. 1, 1893
Sept. 1, 1891
Nov. 1, 1923
1886
1896
m
N. N.Y., N. Bk. of Com’rce
do
do
N.
J. N. Y.. S. S. Sands A Co.
J.
D.
J.
J. Boston and New York.
M.
M.
J.
J.
J.
J.
J.
A
A
A
A
A
A
A
A.
J.
J.
J.
J.
J.
M.
J.
J.
AO.
A D. N.Y.,Merch.Exch.N.Bk
184,310
184,310
1892
July 1, 1924
1887
July 1, 1912
July 1. 1912
April 1, 1904
July 1, 1922
184,310
1,385,120
1,508,616
1,617,061
1,499,056
468,455
374,764
2
2^
8
70,000
1883.
$
1882.
$
1881.
$
1880.
$
May 1, 1921
May 1, 1911
June 1, 1910
June 1, 1913
Jan. 15, 1885
Jan. 1, 1907
June 1, 1927
Jan. 1, 1907
June 1, 1909
New York City.
D.
J. Phila.M.H. AS. H. R.Co.
J. N. Y., Continental N.Bk.
do
do
D.
do
do
N.
do
do
A D.
do
do
A J.
A
A
A
A
A
-
.
Nov. 1, 1889
Nov. 1. 1890
do
do
do
do
do
do
do
do
184,310
2.249,106
611,571
1,124,292
6
2,161,381
2,176,135
4,169,279
40,855
193,171
166,551
203,512
569, 751, 763 ; V. 39, p. 722, 733; V. 40, p. 269.)
3,138,486
Total disbursem’ts.
Balance, surplus
—(V. 38, p.
Michigan Sc Ohio.— Road completed Nov.,
1883, from Allegan,
Mieli., to Dun lee, Mich., 154 miles, u*ing the tracks of the Toledo Ann
Arbor A Grand Trunk. 22 miles, to Toledo, O. It was constructed by
a New York syndicate, and
each subscription of $16,500 in.cash re¬
ceived $15,000 1st mortgage bonds, 150 of preferred and
Bonds issued at $15,000 per mile. Stock is
common stock.
250 shares
$2,500,000
pref. and $3,750,000 com. In Nov., 1884, tho interest on tlie bonds
was passed.
See V. 39, p, 522. (V. 38, p. 115; V. 39, p. 522, 553.
Unionvllle
Middletown
Sc
dletown. N. Y., to Uuionville, N. J.
Water Gap.—Owns from Mid¬
State Line, 13 miles.
Is controlled
by N. Y. Sus. A West, by ownership of stock. Formerly leased to
New Jersey and bonds guaranteed. Gross earnings in
$ 10,289; net, $L5,340. Stock, $149,850.
of
the Mid.
1883-84,
Milwaukee Lake Shore Sc Western.—From Milwaukee, Wis.,
Little Montreal River. 356 miles, of which 4 miles are leased;
branches—Hortonville to Oshkosh, 23 miles; Manitowoc to Two Rivers,
to
6
miles; Eland June, to Wausau, 23 miles; Antigo to
Monico to Rhinelander. 16 miles:
Malcolm, 11 miles;
Clintonville to Ocouto, 56 m les; total
The road will be extended to Ashland, Wis. This
former company fore¬
operated, 491 miles.
company was organized in 1876 s*s successor to the
closed in 1875.
The company lias $5,000,000
preferred stock, and
$1,750,000 common stock issued out of $5,000,000 authorized. The
consolidated mortgage for $5,000,000 will taue up all other debts. Pre¬
ferred stock has a preference to tlie extent of 7 per cent from net earn¬
ings. The annual report for 1884 was given in V. 40, p. 451. In 1883,
receipts $1,063,605; net, $393,080
In 1881, gross receipts were
interest. $285,444 ; surjilus, $35,nl3. (V.
38, p. 230, 358, 571; V. 39, p. 96. 296, 553; V. 40, p. 28, 61, 451.)
gross
$1 116,378; net, $372,i55;
Winnebago. — Owns from Neenah to
Built in 1882 and leased for 99 years to Wiscon¬
sin Central at 371-2 per cent of gross earnings as
rental; but after
$175,000 per year is received the balance of net earnings is to be equally
divided. Tbe $1,0( 0 QUO debentures were authorized to be issued as
required for improvements, and tliej' are convertible < n any coupon day
into preferred stock; the lessee pays interest on them till 1894.
Pref.
stock, 6 per cent cumulative, $780,000; common stock, $520,000; par
Milwaukee
Lake
Sc
Schleisingerville, Wis.
of shares,
$100.
Sc Northern.—Owns from Green Bay, Wis., to
Sehwartzlmrg, Wis., 104 miles; branches—Menasha and Appleton to
Hillbert.Wis.. Wisconsin A Michigan Railroad, Green Bay to Pike River,
and Marinette branch ; total operated, 240 miles. The stock is $3,735,,000. On June 5, 1880, foreclosure was made and road sold for
$1,500,000.
It was leased to Wisconsin Central at a rental of 37^
per cent on gross earnings, but lease terminated August, 1882.
Gross
earnings in 1881, $530,250; net, $198,944.
Net, in 1882,
including rental for seven months. $196,830. Gross earnings in 1883,
1516,357; uet, $154,504; rentals, $19,575; interest on bonds, $129,300;
surplus for year, $56,293. (V. 38, p. 230, 7,64.)
Milwaukee
$
Schuylkill Haven.—Owns from Schuylkill Haven,
Pa., to Locust Gap, Pa., with branches, . 3782 miles
Road was leased
May 12, 1864, to the Philadelphia tv Reading Railroad Co. for 999 years
at a rental of $321,800 per year. There is no debt, and 7 per cent divi¬
dends are paid. Operations are Included in lessee’s returns.
Minneapolis
Sc St.
IiOuis.—Owns main line, Minneapolis to
Angus, 260 miles; Pacitic Division, Hopkins to Morton,
Branch, 2 miles; Lake Park Branch, l-^ miles; total
92 miles ; Kalo
operated, 355^
66 miles. In
of stock.
from 1.101 to
1.400, for $500 each ($150,000 in all), are guaranteed by the Bur. Cedar
Rap A No. RR. The bonds on the 15 miles were issued by the Minneapolis
A Duluth Rai road before it was absorbed by this company.
Preferred
In 1883 acquired the Minnesota Central Railroad,
June, 1881, a consolidation was arranged with $2,000,000
The bonds of the $1,100,000 niort. (1877), numbered
miles.
is authorized and $4,000,060 issued; common stock,
$12,000,cOO authoiized and $5,754,100 issued; par of both $100 per
stock of $S.()00,000
The projected Southwestern extension runs from Fort
la.,-towards Kansas City, Mo., 325 miles, with a branch to
Blurts, 140 miles. R. R. Cable, President, Chicago.
share.
1883.
$
1881.
] 880.
Bonds—Principal.When Due.
Where Payable, and by Stocks- Last
26,667
,
The annual report for
g.
Disbursements—
Rentals paid
Interest on debt
Can. So. (bj of net)...
Dividends
Do
rate per cent
Miscellaneous
Mine Hill Sc
Total.,
discovered in these Tables.
INTEREST OR DIVIDENDS.
DESCRIPTION.
Equipment bonds
Michigan Division, 1st mortg (for
[Vol. XL.
by giving immediate notice of any error
Subscribers will confer a great favor
For
BONDS
AND
STOCKS
KAILKOAD
56
Dodge,
Council
In
18*3 gross earnings were $1,651,929; net, $336,956.
The
total funded debt, Dec. 31. 18S3, was $7,441,000, and bills payable
$1 425,600, on which the whole annual interest would he about $500,000.
(V. 39, p. 233 )
Subscribers will confer a great favor
DESCRIPTION.
For
57
by giving immediate notice of any error discovered In tbese Tables.
Size,
or
Par
.
Bonds
Value.
1880
$1,000
1880
1.000
1,000
1,000
Amount
Outstanding
Bonds—Princi¬
INTEREST OR DIVIDENDS.
,
Date
of
Miles
of
explanation of column Leadings, Ac., see notes
Road.
on first page of tables.
Rate per
! When
Cent.
Where
pal. When duel
Stocks—Last'
Dividend.
Payable, and by
Whom.
Payable
I
Minneapolis & St. Louis -(Continued)—
Mortgage on Southwestern extension
Mortgage on Lake Superior Extension
53
21
172
92
100
100
.
2d mort. bonds, income, 5 A 10 years.
1st mortgage, gold, Pacific Extension
1881
1881
1877
1877
Mississippi <t Tennessee—1st mortgage, series “A”.
1st mortgage, series “ B,” (a second lien) —
1,441
Missouri Kansas £ Texas—Stock
182
1st m., gold, sink, fund, on road and land (U.P.S.Br)
100
1st mortgage, gold (Tebo. A Neosho)
786
Consolidated mortgage, gold, on road and laud...
786
2dm., income, exchangeable for genl. m. 5 per ct.
Booneville Bridge bonds, gold, guar
General consol. M., gold ($7,038,000 are 5s.
East Line A Red River
Hannibal & Central Missouri, 1st mortgage.
Internat. & Gt. North’n, 1st mort., gold
500.000
1,000
1,382,000
977,000
1,100,000
100
46,405,000
1,000
....
70
776
776
Colorado Bridge^bouds
t
Missouri Pacific—Stock
1st mortgage, gold
2d mortgage (s. f. $50,000 per annum) —
Real estate (depot) bonds
Debt to 8t. Louis County (no bonds)
3d mortgage
Consol. M., gold, for $30,000,000 (coup, or reg.)..
Carondelet Branch, 1st mortgage
Missouri River RR., 1st mort
Leavenworth Atcli. A N. W.f 1st mort., guar.
St. Louis & Lexington, 1st mort
St. L. Iron Mt. & So., 1st mort., coupon
1880
283
283
1868
1871
1872
100
1,000
1.000
500 Ac.
....
1876
1880
1873
1866
1870
1880
1867
299
990
154
21
210
1.000
1,000
1,000
1,000
2,078,000
349,000
14,770.000
1,486.000
898.000
19,173,000
440,000
768,000
7,954,000
7,054.000
225,000
30,000,000
7.000,000
....
-
906
2
8
8
,573,000
800,000
205,000
190,000
650,000
4,000,000
J
J.
J.
A.
A.
J.
A
A
A
A
A
A
D.
New York.
D.
New York.
J. N.Y., Continental N.Bk.
do
do
O.
N. Y., Bank of N. Y,
O.
do
J.
do
Doc.
June
1, 1910
I, 1910
Jan. 1,’86-’91
April 1, 1921
April 1, 1902
July 1, 1902
1%
J. A J. N. Y., Company’s Office.
Jan., 1899
do
J. A D.
do
June, 1903
F. A A. N.Y.. Mercantile Tr. Co.
1904-1906
A. A 0. N. Y., 195 Broadway. April 1, 1911
M. A N.
do
do
May 1, 1906
J. A D.
Deo. 1, 1920
do
do
J. A D.
1900
do
do
M. A N.
do
do
May 1. 1890
M. A N.
do
do
Nov. 1, 1919
M. A S.
do
do
1909
M. A N.
do
do
1920
New York, Office.
Q.—J.
April 1,1885
6 g.
7
8
7
7
6 g.
6 g.
7
7
5
7
J. A J. N.Y., Mercantile Tr. Co.
M. A N.
do
do
St. Louis.
mont’ly
M. A N. N.Y., Mercantile Tr. Co.
do
do
M A N.
A. A O. N.Y., Bk. of Commeice.
J. A J. N.Y., Mercautile Tr. Co.
A. A O. N.Y., Nat.Bk. Commerce
F. A A. N.Y., Mercantile Tr. Co.
do
do
F. A A.
6
7
7
6
7
5 A 6
6
7
6
6
7
700,000
3,828,000
10,700,000
245,000
1,000
500 Ac
1,000
7
7
7
6 g.
$636,000
123,000
1868
1,000
1870
1,000
1871-3
1,000
500 Ac.
1876
1873
1,000
1880
1,000
1880
1870
1,000
1879
1,000
500 Ac.
1881
1,370
2d mortgage
do
do
RONDS.
STOCKS AND
RAILROAD
April, 1885. j
g.
g.
g.
gg.
g.
g.
r. A A. N.Y., Mercantile Tr. Co.
Aug., 1888
July, 1891
May 1, 1892
Feb., 1885
Nov., 1906
Nov., 1920
.
Oct. 1. 1893
Jan., 1886
Oct. 1, 1889
Aug., 1920
Aug. 1, 1892
i
Disbursements—
Interest on bonds
ilppt
1883.
1884.
’
$2,492,517
479,200
$2,450,000
phis, Teuu., 100 miles. Capital stock, $825,455. Debt was consolidated
155,867
as above in 1877.
A majority of stock was sold in April, 1*84, to R. T. Taxes, rentals, Ac
Wilson of the Louisville New Orleans A Texas RR. Earnings for three
Total disbursements
$2,605,867
$2,971,717
years past, were: 1881-82, gross. $406,051; net, $i52,492; 1882-*3,
Balance for year
sur.$371,497
gross, $522.101; net, $260,635 ; 1883-84, gross, $545,016 ; net, $250,INTERNATIONAL AND GT. NO. INCOME ACCOUNT.
446. (V. 38, p. 455 ; V. 39, p. 653.)
Re^eip's—
1882.
1883.
Bfigsouri Kansas Sc Texas.—(See 'Aap Missouri Pacific)—Take
Net earnings
$954,252
$1,006,900
OF Road—Hannibal, Mo.. toDeuison, Tex., 576 miles; branches, Holdens,
6 7,072
34,657
Mo.,toPaola, Kan., 54 miles; Parsons, Kan., to Junction City. Kan., 157 Other receipts
miles; Wliitesboro. Tex., to Ft. Worth, Tex. (leased), 71 miles; Fort
Total net income
$1,073,972
$988,909
Worth, Tex., to Taylor, Tex., 163 miles; Denison, Tex., to Gainesville,
Disbursements—
Tex., 41 miles; Denison to Mineola, Tex., 103 miles; Denton, Tex., to
$1,119,657
$908,785
Dallas, Tex., 39 miles; Miller Junction, Tex., to Belton, 7 miles; Trini¬ Interest on bonds
116,417
65,688
ty, Tex., east, 67 miles; coal branches, 8 miles; Jefferson, Tex., to Mc¬ Taxes, rental, Ac
Kinney, Tex., 155 miles. Total, 1,44 i miles. International A Great
Total disburseinei ts
$1,185,345
$1,025,202
Northern, from Longview, Texas, to Houston, Texas, 232 miles, and
def. $111,373
def. $36,293
Palestine, Texas, to Laredo. Texas, 415 miles; branches—Longview to Ba’ance for year
Jarvis. 29 miles; Houston ro Columbia, 50 miles; Phelps to Huntsville, —(V.38, p.115.261,331, 356,359, 763; V. 39,p. 128; V. 40, p. 120, 337.)
8 miles; Mineola to Troupe, 45 miles; leased—Round Rock to
town, 10 miles; Henderson to Overton, 16 miles; leased Gal.
George¬
II. A II.
road, Houston to Galveston, 50 miles; total operated 826 miles.
Organization, History, Ac.—The M. K. & T. Company was organized
April, 1870, and embraces by consolidation the Union Pacific—Southern
Branch, the Tebo A Neosho and other minor companies. In 1874 the Han¬
nibal A Central Mo. was purchased. The company made default on their
consolidated bonds in Dec., 1873, and was operated by a Receiver from
Dec. 30,1874, to July 1,1876. when the Union Trust Company of New
York took possession.
The election of Mr. Gould as President took
place in January, 1880. On Dec. 1, 1880, the company took possession
of its property, paying the overdue coupons. The company had a land
grant
tate of
the United
125,000
States estimated
There is
acresinand
Indian
the
fromKansas
at also
817,000grant
thefrom
acres.
a
Territory of 3,622,400 acres subject to the extinguishment of the
Indian title. The Booneville Bridge Company is a separate organiza¬
tion, and earns interest and proportion for sinking fund,
At a meeting of stockholders May 18, 1881, a lease to the Missouri
Pacific for 99 years was ratified on- terms “following;
That the
lessee operate the,road and pay the obligatory mortgage interest, pay¬
ing over t he balance to the Missouri Kansas A Texas Company. If there
is a deficit in income the lessee may advance money to pay interest, or
in case of failure to make such advance the Missouri Kansas A Texas
can resume
possession of its road.
The International A Great Northern Railroad was acquired by Mo.
Kan. A Tex. in May, 1881, by an exchange of two shares of Missouri
Kansas A Texas stock for one of International A Great Northern,
and the Int. A Gt. North, stock is held in the treasury of the M. K. A T.
the
The International A Great Northern was a consolidation of
Houston A Great Northern Railroad and the International RR. of Texas
on Sept. 22,1873,
The company made default on its bonds, and a re
ceiver was appointed in April, 1878. Sales in foreclosure were made
July 31 .and Oct. 14, 1879. In the reorganization the lands of the com¬
pany, amounting to about 5,000,000 acres, were conveyed to the
second mortgage bondholders in full settlement for their lien on the road,
which was thereby discharged, and the New York A Texas Laud Com¬
pany was formed to manage the lauds.
Stock and Bonds.—The stock lias ranged as follows since 1877,
viz.: Tn 1878, 2®7i8: in 1879,538^354; in 1880, 281s®4914: in 1881.
8478@54; in 1882, 2638®424; in 1883, 194@3478; in 1884, 94a>234;
in 1885 to April 18,14 4®lS7e
The general consolidated mortgage is at $20,000 per mile on all road
built and to he built: of which $18,217,000 is reserved to take.up first
consol, i ml prior bonds; $447,000 for the East Line A Red River bonds.
There were $10,000,000 reserved to take up Income mortgage bonds and
scrip, a- din Nov., 1883,an exchange was offered to the holders of Income
bonds, in these general mortgage bonds, bearing 5 per cent interest, at
par, and to scrip holders at 60 per cent of the lace of their holdings.
The amount of general mort. bonds ns above given includes the amount
of Income bonds and scrip that had been converted up to Oct., 1884
There are also $32,000 of Hannibal A Cent. Mo. 7s 24 mortgage bonds
yet out, due in 1892 ; and also a small amount of old 8 per cent income
bonds of International A Great Northern, exchangeable into Int. A G.
N. 2d mortgage bonds. The I. A G. N. also guarantees $2,000,000 of
Galveston Houston A Henderson 1st mortgage 5 per cent bonds.
Operations, Finances, Ac.—Since the road went into the Gould sys¬
tem the earnings have increased, both gross and net.
The income
account tor 1882 showed a deficit of only $97,000 after paying all
charges for interest, but not including interest on the income mortgage.
In 1883 gross earniugs were much larger, owing partly to the heavy
cotton crop of 1882 in Texas.
The increased interest charge after
1883 on $10,000,000 of new general mortgage bonds exchanged for
Incomes and scrip will be, when all issued, about $500,000.
For six months from Jan. 1, 1884, to July 1, 1884, gros» earnings (not
including Int. A Gt. No ) were $3,265,849, against $3,317,432 in 1883;
net, $9i-9,v;26, against $1,020,321 in 1883. Annual report in V. 38, p. 357,
MISSOURI KANSAS & TEXAS INCOME ACCOUNT.
1884.
Gross earnings
Net earnings
Dividends,
etc
Total net income
$7,317,250
$2,970,004
1883
Missouri
Pacific.
(See Map.).
—
Line of Road.
—
Owns main
Point, Mo., to Potosi, Mo., 4 miles; Bismarck, Mo., to Belmont, Mo., 121
miles; Poplar Bluff, Mo., to Bird's Point, Mo. (Cairo), 74 miles; Gurdon,
Ark., to Camden, Ark., 34 miles; Knobel to Forrest City, 97 miles;
Forrest City to Helena, 43 miles; Newport to Batesville, 27 miles;
Ni clyville to Doniphan. 20 miles; total, 906 miles.
Organization, Leases, Ac —The Pacific RR. Co. (of Missouri) was
inc'rponited under charter dated March 12, 1849, aud road opened to
Kansas City in October, 1865. The company received a loan from the
Suit** of Missouri.
Tlie Pacific Railroad of Mo. was sold in foreclosure of
the 3d mortgag
Sept. 6,1876, for the nominal price of $3,000,000", to C. K. Garrison
and others, and a new company organized with a stock of $800,000.
This fore eh sure "was afterwards contested by suit, and the decision of
the. U S. Supreme Court held substantially that the charges of fraud
(See V. 38,
were sufficient to warrant a triai on the merits of the case.
p. 571.)
The present company was a consolidation in August, 1880, embracing
the Missouri Pacific, St. Louis A Lex.-, Kansas City A East, and Lex. A
South, in Missouri; and the St. Louis Kan. A Ariz. and Kan. City Leav.
A Atcli. in the State of Kansas.
The St. Louis Iron Mountain A Southern stock was taken up with
Mo. Pacific in May, 1881, on the basis of three shares of Mo. Pacific for
four shares of Iron Mountain, aud the St. Louis A Iron M. tock is
held by Missouri Pacific.
Stock and Bonds.—Uuder the new regime the payment of dividends
was begun on the present stock iu 1880, in which year 14 per ceut was
Dividends since were as follows: in 1881, 6; in 1882, 64; in
1883,7; in 1884, 54The consolidated mortgage above is for $30,000,000—trustees John F.f
Dillon and Edward D. Adams. The bonds are issued to retire the out¬
standing bonds of the consolidated company, as above given, amounting
to $20,184,000.
The remaining $9,816,000 are issued as maybe re¬
paid.
quired for finishing, constructing, purchase, acquisition, Ac.
Operations, Finances, Ac.—The earniugs and income account below
are for the Missouri Pacific and its branches only (990 miles); for, not¬
withstanding the merger of St. Louis A Irou Mountain stock and lease of
Missouri Kansas A Texas, the op-rations of all the roads have been
kept separate aud are so reported. The Missouri Pacific is regarded as
the main company of the whole Soutli western System of Gould roads,
and on its stock only are dividends paid.
The anuual report of Mo. Pacific for 1883 was published in the Chron¬
icle, V. 40, p. 336. The earnings, inoouio account aud balance sheet
were as
follows:
Miles of road
operated Dec. 31—
Passengers carried (No.)
Freight carried (tons)
Gross earnings
Operating expenses
Net earnings
Per ct. of op’at’g
exp'es to earn’gs.
1882.
1883.
990
990
Receints—
Net earnings
Dividends, Ac
Total net income
Disbursements—
Interest on bonds
Dividends paid
Rate of dividend
Balance for year
1884.
995
1,757,-62
1,472,311
3,191,353
1,567,683
3,270,721
2,839,524
$-*,094,618
$9,153,731
$8,777,628
4,324,888
4,978,465
4,492.877
$3,769,730 $4,175,266
1,284,751
53-44
54 39
1882.
$3,769,730
1883.
$4,175,266
700,552
439,661
$4,470,282
$4,614,927
$1,598,390
1,946,419
$1,667,880
2,097,348
348,068
420,296
$3,892,877
$4,185,521
$577,405
$429,403
INCOME ACCOUNT.
$7,843,511 Taxes, rentals, Ac
$3,197,007
146,207
Total disbursements
$3,343,214
—
line from St. Louis, Mo., to Atchison, Kan., 330 miles; branches
660 miles; total 990 miles.
In May, 1881, the St. Louis Iron Mountain
A Southern was taken in. July, 1883, the mileage was as follows: From
St. Louis to Texarkana, Texas Line, 490 miles; branch lines, Mineral
64
7
51-18
1884.
c*
RAILOD
STOCKS
AND
BONDS.
[Vol.
xl.
RAILROAD
APRIL, lfc?5.1
Subscribers will confer a great
Miles
explanation of column headings, Ac.,
on
see
first page of tables.
notes
Missouri Pacific— (Continued)—
St. L. I. M. & 8., 2d M..gold, coup., may be reg—
Ark. Branch, 1st mort., gold, land gr"
do
do
Cairo Ark.& T., 1st, gold, cp.or reg
do
do
do
Cairo & Fulton, 1st, g., on road & land..
Gen’l consol. M. (for $32,036,000)
)
do
supplemental, gold 5
3d mortg. bonds
Mobile dt Montg.—8tock
Mobile dt Ohio—Stock
1st mortgage, gold
1st mortgage, extension, gold
Date
*
310
99
71
304
J
85
907
Montgomery dt Eufaula—1st mortgage
Montpelier dt Wells River—Stock
Morgan’s La.dt Texas— 1st mort.,gold(N.O.to M.City)
1st mortgage, Alex. Extension, gold
N. O. Opelousas & Gt. Western, debt assumed
Moms dt Essex—Stock
1st mortgage, sinking fund
2d mortgage
.
Convertible bonds
Gen. m. & 1st on Boonton Br. &c. (guar. D.L.&W.)
Consol, mort. (for $25,000,000) guar. D. L. & WT..
1879
1883
1879
1879
1879
1879
D. L. & W)
....
....
.
.
.
81
38
110
150
125
132
84
84
34
137
*
m
m
m
*
*
m
Payable
1,850,000
600,000
....
900,000
1,500,000
800,000
5,000,000
....
1878
1880
1,000
1,000
-
,
1864
1866
Var’us
1871
1875
1883.
When
Cent.
7,000,000
l.OOO.OOu
5,300.000
50
1882
Rate per
261,000
800,000
2,950,800
5,320,600
....
1979
*
Outstanding
10,353,000
3,311,000
1,000
50
500 &c.
500 &c.
1,000
1,000
1,000
1,000
GENERAL BALANCE DEC. 31.
Assets—
1882.
Cost of road and equipment
$39,298,901
Investments in stocks and bonds.. 20,856,312
Materials and supplies on hand
624,117
1,494,000
251,716
15,000,000
5.000,000
2,999,000
284,000
4,991,000
6,557,000
1,025,000
2,220,000
7 g.
7 g.
7 g.
7 g.
5 g.
5 g8
4
3
M. &
J. &
J. &
J. &
A. &
A. &
J. &
J. &
Where Payable,
Whom.
N. New York or London.
D. N. Y., Mercantile Tr. Co.
D.
do
do
J.
do
do
O.
do
do
do
0.
do
J. N. Y., Nat. City Bank.
do
D.
do
N. Y., L. & N. Office.
May 1, 1897
June 1, 1895
June 1, 1897
Jan. 1, 1891
April 1, 1931
April 1, 1931
Jan., 1889
June, 1897
(?)
....
6 g.
6 g.
7
7
7
7
6
2
7
6 g.
8
3*2
7
rt
t
7
7
7
J.
& D. N.Y. Farmers’ L’n <& Tr.
do
do
Q.—Jan
Yearly.
Yearly.
Yearly
Yearly.
N.Y.,11 Piue Street.
do
do
do
do
do
do
J.
& J.
A.
J.
A.
J.
M
F.
J.
A.
J.
Boston.
New York.
O.
J. N.Y. Bk. of State of N. Y.
do
do
0.
J. N. Y., Del., Lack & W.
N.
do
do
do
A.
do
do
& J.
do
& O.
do
do
do
do
& D.
N.Y., Nat. City Bank.
Dee.
(Redeemable
only by
sinking fund.
July 1. 1909
(?)
...
&
&
&
&
&
&
1, 1927
July 1, 1927
April 1, 1918
July 1, 1920
April 1, 1889>
Jan. 2, 1885
Mayl, 1914
Aug. 1, 1891
Jan. 1, 1900
Oct., 1901
Juno 1,1915
7
412&5 J. & J.
N.
Y., Del. Lack. & W.
July 1, 1912
Company, until the extinguishment
stock authorized by the charter is
$10,000,000, or 100,000 shares of $100 each, of which there have been
issued 53,206 shares. The debentures are secured by a deed of trust of the
$62,930,340 $64,971,684 $66,410,094
'
Stock
$29,958,900 $29,962,125 $29,974,800
Funded debt
25,379,000 26,895,000 28,895,000
Interest due and accrued
468,972
496,433
504,693
Vouchers for Dec. & bills payable.
2,395,920
2,430,651
2,150,806
Miscellaneous
92,386
122,911
Income account
4,635,162
5,064,564
4,834,794
Bonds—Prlnci
pal, When Due.
and by Sloclcs—Last
Dividend.
with the Farmers’ Loan & Trust
of said debentures.
The capital
1884.
$39,950,939 $40,618,132
22,324,316 21,776,077
1,185,718
1,094,682
1,238,990
779,050
577,844
202,579'
731,661
2,343,359
709,441
Total assets
Liabilities—
S9
INTEREST OR DIVIDENDS.,
Amount
2,500,000
1,450,000
7,600,000
1,000
Special real estate mortgage
Cash on hand
Uncollected earnings
Advances to railroads
BONDS.
$6,000,000
100
100
....
472
55
.
or
Par
Value.
1872
$1,000
1870
1,000
1872
1,000
1870
1,000
1881
1,000
1881-2
1,000
1869
1,000
1877
1,000
180
528
1st pref. inc. and s. f. debentures, not cumulative
2d
do
do
do
3d
do
do
do
4th
do
do
do
Size,
of
of
Road. Bonds.
Mobile dt Girard—2d mort., end. by Cent. Ga. RR..
Real estate terminal mort. (guar.
AND
flavor by giving immediate notice of any error discovered In tliese Tables.
DESCRIPTION.
For
STOCKS
land, about 1,143,222 acres, and receive 7 percent', if earned.
The Cairo Extension bonds were exchanged in 1884 for the M. & (X
Extension mortgage bonds due 1927.
In August, 1881, 7 per cent was declared on 1st preferred incomes;
also 2 per cent on 2d incomes. In August, 1882, 2 per cent on the
first preferred incomes ; in 1883, 3 per cent; in 1884, 5 per cent.
The report for 1883-84 was published in the Chronicle, V. 39, p. 552,
and had the following remarks: “ An examination of the comparative
exhibits herewith attached will show that while the gross earnings of
the road have in effect been uniform for the past four years, with the
exception of the yellow-fever year, and the expenses have also remained
about the same, the road has been compelled to do a largely increased
percentage of business for the same amount of money; the constant
on the part of the public to reduce rates, the attacks of legis¬
latures, and the increased competition arising at various points, has
forced a reduction in the passenger and freight rates, which the man¬
struggle
Total liabilities
$62,930,340 $64,971,684 $66,410,094
St. Louis Iron Mountain & Southern—This company defaulted on
its interest in 1875 and finally made a compromise with its bondholders,
issuing income bonds for overdue coupons. The company afterward
offered to exchange these for the new 5 per cent mortgage bonds,
and all are reported as exchanged. There are also $73,000 of old income
8 per cents of Cairo & Fulton. The Mercantile Trust Co. of N.Y. is
trustee of the general consol, mortgage. The stock is all held in the
treasury of the Missouri Pacific Railway Co., having been retired in
May, 1881, by the issue of three shares of Mo. Pac. stock for four of St.
Louis & Iron Mountain. The sales of land in Arkansas on which the
Cairo & Fulton bonds have a lien are given in the report for 1883 as
66340 acres for $195,988. Lands yet unsold, 928,498 acres.
The report for 1883 was published in the Chronicle, V. 38, p. 331
and 357, and the income account was as follows:
INCOME ACCOUNT.
1882.
Oross earnings
$7,582,209
1883.
$7,904,683
1884.
$7,451,897
Receipts—
Net earnings
Other receipts
Total net income
Disbursements—
Interest on bonds
Taxes, bridge and car expens’s,&c.
Total disbursements
$3,735,622 $3,690,120 $3,464,599
102,892
$3,838,514
$2,248,979
95,054
$3,785,174
agement has, however, not altogether objected to, in view of the desire
on their part to meet the wishes of their patrons as far as they consist¬
ently can, leaving a net result in the increase of business. The net
result to the present time has not rewarded the company for these
reductions.” * k * “The connection between East Columbus and
Cairo is beginning to showT its importance. The business n ceived at
Cairo during the past year has increased materially. It is proper, how¬
ever,
to state that a certain proportion of this i> lost at Jackson, which,
before such connection at Cairo wras made, was received at that point;
but still the balance is largely in favor of the company, and shows tho
value and importance of this connection.”
Gross earnings for six months of 1884 from July 1 to Dec. 31 were
$1,184,026, against $1,292,529 in 1883; net, $388,667, against $523,338.
Operations for four years ending June 30 were :
1880-81.
Total gross earnings
Operating expenses
...
Net earnings
D'isbtivsctnc7its~~^
Interest on mortgages..
Interest on incomes
1881-82.
1882-83.
1883-84.
$2,377,817 $2,164,274 $2,271,058 $2,278,917
1,562,486 1,602,145
1,642,651 1,547,467
$815,331
$562,129
$628,406
$731,450
$420,000
$456,000
$456,000
$471,200
159,000
265,000
408,000
106,000
$828,000
Def.$12,669
$562,000
$2,259 193
499,663
_479,486
$2,748,642
$2,738,679
Total interest
Balance
Balance for year
$1,089,872 $1,046,495
—(V. 38, p. 30, 331, 356, 540, 571, 620, 763 ; V. 39, p. 11, 48, 128, 553 ;
V. 40, p. 28,182, 336,481.)
$615,000 $736,200
Sur. 129 Sur.$13,406 Def.$4,750
-(V. 38, p. 455, 679,764; V. 39, p. 22, 381, 522, 552; V. 40,p. 182, 28’,
304.)
Montgomery Sc Eufaula*—Montgomery to Eufaula, Ala., 80
The road was foreclosed May l, 1879, bought by W. M. Wadley,
Operated under contract by
mobile Sc Girard.—Owns from Columbus, Ga., to Troy, Ala., 84 and the present company organized.
Common stock, $987,164; preferred stock, $279,900, and $5,080 Cent. RR. of Georgia. Stock is $620,000. Gross earnings year ending
miles.
Pike County stock. Second mortgage bonds are endorsed by Central June 30,1884, $299,470; net, $90,763. Div. of 10 p. c. paid in Apl., ’83.
KB. of Georgia. There are also $19,000 3d mort. 6 per cent bond®, due
Montpelier Sc Wells RlTer.—Owns from Montpelier to Wells
June 1,1897. In 1883-84, gross earnings, $241,670; net, $49,686. In River, vt., 38 miles. Reorganized January, 1877.
D. R. Sort well,
1882-83, gross earnings, $255,756; net, $77,455.
President, East Cambridge, Mass.
Gross earnings for year ending
March
31,1884, $92,188; net, $6,343.
mobile Sc Montgomery—(Nee map Louisville dt Nashville)—
Owns from Montgomery, Ala., to Morale, Ala., 180 miles.
The
Morgan’s Louisiana Sc Texas Railroad Sc Steamship Co.—
old road was sold in foreclosure Nov. 16,1874, and purchased by bond¬ In Feb., 1884, owned from New Orleans to Cheneyville, 205 miles;
holders, who organized this company on a stock basis, in Nov., 1879, branches, 40 miles; branches under construction, 15 miles; Cheneyville
$1 ,550,000 of the stock owned in this country was purchased by parties to Alexandria (under track agreement), 24 miles; total, 184 miles.
In the interest of the Louisv. & Nashv. RR. at 80, giving the control to There are yet outstanding $251,700 of 8 per cent N. O. Opelousas
that company, which now operates it. The old mortgage debt outstand¬ & Great Western Railroad bonds due in 1889.
In February, 1883,
ing is about $230,000.
The Louisville & Nashville Co. has issued the whole stock of $5,000,000 was sold to the Southern Pacific
$2,677,000 bonds secured on this road, which are pledged for the collat¬ Syndicate, as reported, at 150 per share of $100. This company’s state¬
eral trust bonds of that company.
Gross earnings in 1883-4, $1,179,331;
net, $308,523; rat. and taxes, $211,173; sur., $97,350. (V. 38, p. 230.)
Mobile Sc Ohio.—Owns from Mobile, Ala., to Columbus Ky., 472
miles, and extension (by Kentucky & Tenn. RR.) to Cairo, 21 miles:
branches—Artesia, Miss.,to Columbus, Miss., 14 miles; Artesia, Miss.,
to Starkville, Miss., 11 miles; Muldon, Miss., to Aberdeen, Miss., 9 miles;
toted operated, 528 miles.
The company funded coupons from their bonds in Feb., 1867, and
resumed payment of interest May, 1870. A default was made May 1,
1874, ana two trustees and receivers took possession May 8, 1875,
and the company was reorganized without foreclosure, and the stock
and bonds of the company were placed on the New York Stock
Exchange list in July, 1879: First.—New mortgage to the Farmers’
Loan & Trust Co., of New York, as trustees, upon the main line, excluding
branches, to secure bonds in the aggregate amounting to $7,000,000.
Second.—Deed of trust to the Farmers’ Loan & Trust Co., as trustees, to
secure four series of preferred income and sinking fund debentures,
covering specifically the lands, 1,150,000 acres. Interest at the
rate of 7 per cent per annum, or in multiples of 1 per cent, but
not exceeding 7 per cent in any one year on these debentures,
is payable annually upon each series in the order of their priority,
but only if earned in the preceding fiscal year, and is non-cumulative. The holders of debentures have one vote for each $100, and each
Searstockholders’
the Farmers’
& T. Co.,oftrustees
toMobile
vote at&
they instruct
L.majority
meetings
upon the
the stock of the
le
Ohio Railroad Company, the power to vote upon which is
irrevocably
miles.
Exchange said that the company’s prop¬
erty consisted of seventeen iron steamships plying between New York
ana Neiv Orleans and between Morgan City, La., and the various Texasand Mexican ports, and two between New Orleans, Florida and Havana
orts; also four large feriy boats, tugs, dredge boats, wharves, wareouses, and terminal facilities, besides nearly the entire capital stock of
ments to the Now York Stock
the Gulf Western & Pacific Railroad, Texas Transportation
Railway
Co., Buffalo Bayou Ship Channel Co., and a majority interest in the
capital stock of the Houston & Texas Central Railway Co., &c. Gross
earnings in 1882, $3,659,867; net, $1,199,746; in 1883, gross. $4,416,390; net, $1,885,714; interest and taxes, $480,818. (V. 38, p. 509;
Y. 40, p. 61, 121.)
Morris Sc Essex.—Owns from Hoboken, N. J., to Philiipsburg,
N. J., 84 miles; branch, Denville, N. J., via Morris & Essex Tunnel, to
Hoboken, N. J., 34 miles; leased Dover to Chester, 10 miles; Newark &
Bloom. RR., 4 miles; total operated, 132 miles. In 1868 this road
was leased in perpetuity to the Del. Lack. & W. RR.
The lessees assume
all liabilities of the Mor. & Essex RR. and pay 7 per cent per annum on
the capital stock, and they also agreed to pay 8 per cent in case the
Morris & Essex earns 10 per cent on its stock in any one year alter the
year 1874. The Moms & Essex is important to the Delaware Lacka¬
wanna & Western as a route with terminal facilities on New York Har¬
bor, but the actual earnings on the road show a large annual deficit for
the lessee company after the payment of rental. The loss to lessee was
in 1880. $1,012,416; in 1881, $985,890; in 1882, $941,550; lu 1888,
$1,104,218. (V. 39, p. 48.)
Subscriber* will confer a great
I
54
Nashua d Lowell—Stock
($100,000 are gold 5s, J. & J., 1900)
Nashville Chattanooga d St. Louis—Stock
Bonds endorsed by Tenn
1st mort. (for $6,800,000), coup
I
|
j
!
Bouds
bonds...
New Castle <f Beaver Valley—Stock
New Haven d Derby—1st A 2d mortgages
Northampton—Stock
Holyoke & W..leased. 1st
119 - 1870
119 ! 1867
99 1
Mu$200,000 guar.)
300.000
6,670,331
25
....
12.=>,000
6,170,000
1,000,000
500,000
1
1,000
....
A mort. bonds.1
1,000 :
500 |
....
'
„
94
5
44
....
1
i'
ioo !
,
1883
i
....
1879
t87l
1869
1877
1863
1,000Acj
50
1,000
1,000
500 Ac.
....
1.000
50
63A 70 500 Ac.
100
1869
1,000
1870
1.000
1879
1,000
27 i 1881
1,000
12
15
13
170
92
17
Rate per
Cent.
....
....
....
3*2
$300,000
1,000
1,000
1,000
1,000
....
Outstanding
....
7hi\ 1877
18
Nesquehoning Valley—Stock
Nevada Central— 1st mort.. gold (sink, f., $20,000)
Newark d Hudson—1st mortgage
Newark Somerset d Straits?., O.—1st mortgage
Consol, sink, fund $15,000 per yr.
Northern Extension
discovered In these Tables.
Bonds—Prinoi
When
Where
pal, When due.
Payable, and by
Whom.
Payable
Stocks—Last
Dividend.
-
1.000
66
61
Newbury Dutchess d Connecticut—Tueorne
Newbury if- New York—1st mortgage
Par
Value.
88 | 1877
1877
30
48
Amount
122
Naugatuck—Stock
Mortgage bouds, coupon
....
....
.”
Mortgage bonds (for $(300,000)
554 !
151
1857
1873
340
321 j 1881
or
$100
....
:’73-’80
....
....
2d mort
Bonds held by U. S. Government
Bonds of N. C.A St. L., 1st mort. on two braucnes
do
1st mort. on Lebanon Branch
do
do
for Jasper Branch
do
for Centreville Branch
do
do
Duck River RR., 2d inert., endorsed
Nashville d Decatur—Stock, guar’d 0 p. e. by L. A N.
1st mort. guar. s. f
2d mortgage, income
Natchez Jackson d Columbus.—1st mortgage
New Haven d
[Vol. XL.
INTEREST OR DIVIDENDS.
Size,
Miles
Date
of
!
of
explanation of column headings, Ac., see notes
Road. Bonds
on first page of tables.
Bonds
BONDS.
AND
favor by giving immediate notice of any error
DESCRIPTION.
For
STOCKS
BAILROAD
60
1
398,000
300,000
173,000
166,000
71,000
1,642,557
1,817,000
178,000
174,400
6 A 5 g.
2
6
7
0
4
6 A 8
0
3
7
6 g.
10
27,500
2,000,000
150,000
1,300.000
750,000
5
4
2^
6 g.
250,000
800,000
1,104,500
250,000
700,000
525,000
2,400,000
1,300,000
200,000
1,200,000
7 g.
7
-
(?)
7
3
7
6 A 7
6
5
700,000
1884
April 30, 1884
A J. N.Y., Continental N.Bk.
do.
do
A J.
do
do
A J.
July 1, 1913
July 1, 1901
J,
J.
J.
1893 A 1900
1884 to 1886
July 1, 1891
Jan. 1, 1917
Jan. 1, 1917
1907 A 1923
do
do
do
do
do
J. A J.
J, A J.
J. A J.
6
6
Nov: 1.
Boston A Nashua.
M. A N.
F. A A. Boat. Safe Dep. A Tr.Co
A. A O. New York A Nashville.
do
Nov.
Deo.
AN.
Nashville.
A D.
A J. N. Y„ Drexel, M.
A O. Nasliv., 4th Nat.
M.
J.
J.
A.
A Co.
Bank.
N.Y., Bank of America.
J. A J.
Bridgeport, Conn.
J. A D
Bridgeport, Treasurer.
M. A S.i Philadelphia, Co.’s office
A. A O. N. Y., 195 Broadway.
N. Y. L. E. A W. RR.
M. A S.
M. A N. N. Y., Union Trust Co.
J.
A
J.;N.Y.,OtHceN.Y.L.E AW
Q.-J.
Newcastle, Penn.
1, 1909
3, 1884
July 1, 1900
Oct. 1, 1887
1885
July 15,
i884
June 1. 1913
Mar. 1, 1885
Oct. 1, 1904
Sept., 1901
Nov. 1. 1889
1977
Jan. 1,
1889
April, 1885
Variousi DC Haven, Mech. Bank. 1888 A 1900
d3
do
Oct., 1873
do
do
Jan., 1899
J. A J.
A. A O. N.Hav.,N.Tradesm’s Bk Apr.l ’91 A’98
do
do
A. A O.
April, 1, 1909
do
do
A. A O.l
April, 1911
Nashua, N. H., leased May 4, 1871, to the Louisv. A Nasliv. RR. for 30 years from
the Boston A July 1, 1372, at a rental of 6 per cent per annum on the stock. The
to 7 hi per cent lessee assumed all the debt of the Nashville A Decatur Co. In 1882-83,
gross earnings, $1,034.231 ; net. $380,207.
In 1883-84 gross, $1,138,on stock, payable absolutely, and $1,000 (or one-half of one percent
moie) is paj able contingent upon the amount of arois earnings, and 8 092; net, $499,720; interest and taxes, $162,376; dividend, $112,924;
$224,400.
per cent has been paid as rental for the past three years. The funded surplus,
debt of $300,000, principal and interest, is assumed by the lessee, and
Natchez Jackson Ac Columbus.-Owns completed road from
the lessor holds the lessee’s notes for the same amount—$300,000.
Natchez, Miss., to Jackson. Miss., 100 miles. Stock. $$,260,809. New
Nashville Chattanooga Ac St. Louis.—Owns from Chattanooga, 6 percent bouds authorized but up to 1885 not issued. Floating debt
Dec. 31, 1884, $2,260,809.
Earnings for 1883, gross, $177,221; net,
Tenn., to Hickman, Ky., 321 miles; branches—Wartrace, Tenn., to
Shelbyvilk-, Tenn., 8 miles; Bridgeport, Ala., to Inman, Tenn., 25 $54,952. Iu 1834, gross, $131,859 ; net, $58,917.
miles; proprietary lines—Nasliv. to Lebanon, 30 miles; Tullahoma to
Naugatuck.—Owns from Naugatuck Junction to Winsted, Conn. *
Caney Fork. 48 miles; Deeherd to Fayettev., 40 miles; Centreville 56Lj miles; leased. Watertown A Waterbary RR., 4Lj miles; total oper¬
Branch, 34 miles; Duck River RR. (leased), 48 miles; total, 554 nuies. ated, 60 miles, 5 miles of New- York New Haven & Hartford being used
A majority of the stock ($3,385,000) is owned by the Louisville &
between Naugatuck Junction and Bridgeport. Operations and earnings
Nashville RR. Company and pledged among the collaterals for the for three years past were'as follows; 1831-82. gross, $714,898; net,
trust loan of that eomnany.
The bonds endorsed, by Tennessee $223,784; 1832-83. gross, $712,305; net. $229,991; 1833-84, gross,
are secured by deposit in trust of this company’s first mortgage bonds.
$670,714; net, $225,015 ; interest and dividend charges, $203,855. This company owns $75,000 of the Duck River RR. 2d mortgage
Nesquehoning Valley.—Owns from Nesquehoning Junction, Pa.,
endorsed bonds.
to Tameueud, Pa., 17 miles; Tunnel Branch, Ilauto, Pa., to Lansford,
The company had net income in the year 1883-84 more than sufficient Pa., 1 mile; total
operated, 13 miles. Opened in 1870, and was leased
to pay 4 per cent on the stock, but the income was applied to new con¬
for 999 years to the Lehigh Coal & Navigation Co. at a lease rental of
struction or other purposes, and the dividend payable October, 1884, $130,000 per annum. In Sept.. 1381, the lease was modified so as to
was passed.
pay 5 per cent a year only, and mos: of the stock has b *en extended
For nine months from July 1, 1884. gross earnings were $1,700,142,
for 20 > ears, with a guarantee of 5 per cent per annum. (V. 38, p. 301,
against $1,831,212 in 1883-4 ; net, $749,079. against $831,484. Surplus 5 10.)
over interest and taxes. $235,880. against $333,777 in 1883-4.
Nevada Central.—(Nee Map Union Pacific.) —Battle Mountain to
The annual report for 1883-1 was published in the Chronicle, V. 39,
Ledlie, 80 miles; branch, Ledlie, to Austin, 7 miles; total. 93 miles.
p. 323, and had the following :
Stock, $1,000,000. There are $250,000 8 per cent income bonds due
1380-81.
1883-81.
1331-82. 1832-83.
1930, w hich are held bv the Union Pacific, as also $959,000 of the
554
554
539
521
stock. Default was matte Oct. 1. 1881, on the bonded interest, aud re¬
$
$
$
Earnings—
621,171
003,618 ceiver appointed Feb., 1885. Gross earnings iu 1883, $100,351; net,
589.560
502,945
Passenger..
$19,132: deficit over interest, Ac., $25,803. Gross in 1881, $9 *,289; net,
1,013,921 1,363,355 1,513.875 1,559,765
Freight
(V. 39, p. 402; V 40, 211.)
148.703 $5,934; deficit over interest, Ac ,$39,016.
14^,477
74,317
130,663
Mail, express, rents. Ac..
Newark Ac Hudson.—Owns from Bergen Junction to Newark,
N. J., 0 miles.
Leased to New York Lake Erie A Western at a rental
2.250,130 2,074,583 2,283,52 3
Total gross earnings
1,373,177 1,240,991 1,274,855 l,3u3,440 of $33,000 per annum, which pays interest on bonds and 7 per cent
Total operating expenses.
on the stock of $250,000.
Cortlahdt Parker, President, Newark, N. J.
333.592 1,003,663 1,003,61 )
378,009
Net earnings
Newark Somerset Ac Straitsvilte.—Owns from Newark, O., to
54-91 Shawnee, O., 44 miles. Road was completed in 1871. Leased to Sandusky
55*80
61*03
59*31
P. c. operat’g ex. toe’rn’gs
Mansf. A Newark for 11 years from Jan. 1, 1872. Operated by the Balt.
INCOME ACCOUNT.
A Ohio, which pays 30 per cent of gross earnings, and advances any
1883-84
1881-82.
1832-33.
1330-31.
additional amount necessary to meet the interest on the debt. Capital
$
$
$
$
Net Re ce ip is—
stock, common. $795,400, and preferred. $218,200. Gross earnings in
833,592 1,008,668 1,008,010
873,009
Net earnings
29,072 L880-81, $177,304; net, $11,543; deficit to lessee, $14,451. Iu 1881-2
77,247
39,006
1,000,175
Bonds sold Si miseellan’s.
gross, $188,937; net, $13,073; deficit to lessee, $32,921. In 1882-83
372,598 1,035,915 1.097,712 gross, $101,781; net, $19,511; loss, $29,922.
1,378,134
Total income
$
$
Newburg Dutchess Ac Connecticut.— Owns from Dutchess June.
$
$
Disbursem e nt s—
602,320 N. Y., to Millerton, N. Y., 59 miles. The Dutchess A Col. RR. was sold
541,514
533,577
650,972
Interest on debt A taxes.
200,302 Aug. 5. 1870, aud this company w as organized Jan. 8, 1877, by the pur¬
300,16 4
Dividends
212,432
195,798
chasing bondholders. In addition to above incomes, there are $150,000
Extensions
1st mort. 7s,
due iu 1907.
In 1882-83, gross earnings $207,675
130,041
359,551)1
New equipment, Ac
$12,320. In 1833-84, gross, $177,333; net, $1,022.
The com¬
352,316 1
Improvement of track...
106,077 net,
mon stock is $172,000 and preferred stock $715,350.
John S. Schultze,
40,098 |j- 104,465
25,021
Nashua Ac Lowell.—Owns from Lowell, Mass., to
15 miles. On October 1, 1830, a lease for 93 years to
Lowell wras made. The rental is $00,000 per year, equal
Other improvements
Total disbursements.
Balance, surp. or deficit.sur
*
26,144
248,031
975,118
2,096.169
President, Matteawan, N. Y.
903,000 *1,223,571 snr 330,478
1,035,199
sur.62,513
EACH FISCAL YEAR.
1832-83.
1381-82.
$
$
1883-34.
$
755,437
Deficit.
GENERAL RALA.NCE AT END OF
1830-SI.
$
Assets—
Road and equipment
Assets not available
Inv’tm’ts in st’ks A bonds
Bills receivable
Real estate
Due lrom agents, Sec
Gash
Total
Liabilities
-
Capital stock
Bonded debt (see Supp’t).
Bills payable
Bal’cedue imlivid’ls. See.
Int’st coupons due July 1
Dividends
Pay-rolls, Ac
Int’st on b’ds held by
Viscellam
U. 8.
ous
’rofit and loss
14,932,355 15,711,489 16,194,823 16,316,655
352,870
562,727
439,353
192,024
462,940
472,590
386,040
360,450
8,722
8,387
20,483
7,187
8 4,2 46
80,384
84,864
93,875
188,919
190,988
121,946
80,428
300,217
325,000
518,590
416,536
10,210,211 17,100,797 17,635,531 17,920,514
$
$
$
$
0,070,331 6,670,331 6,670,331 6,670,331
3,147,000 8,049,000 S,757,000 8,903,000
591,499
597,132
059,088
247,031
140,327
97,348
102,494
83,48 L
287,970
283,740
271,305
279,610
21,912
15,082
03,014
13,931
00,256
75,490
75,005
30,757
153,000
153,000
153,600
153,600
3,899
3,080
948,167 1,115,078
542,675
513,395
10.210.211 17,166,797 17,635,531 17.920,544
-{V. 38, p. 87, 230,359, 480,595,738;
39, p. 71, 209, 296, 323,
324, 435, 581, 707; V. 40, p. 1*2, 241, 253, 363, 431 )
Nashville A' Decatur.—(See Map Louisville <f Nashville.)— Owns
f oui Nashvlle-, Tenn
to Decatur, Ala., 122 miles.
The road was
Tot til
,
Newburg;
Ac
New York.-Owns from
Vail’s Gate Junction to
Greenwood Junction, N. Y., 13 miles. Leased October 5, 1800, to
RR.. at $17,500 per annum, aud operated now by New York Lake
A Western.
Erie
Erie
Valley.—Owns from Homewood, Pa., to
Road in operation since I860. Leasee: to
Pittsb. Ft. W. A Chic. RR. for 99 years at a rental of 40 per cent on gross
earnings. Lease transferred to Pennsylvania Company. There is no debt.
In 1879. 13 per cent dividends were paid; iu 1880, 13 p. c.; in 1881. 24
p. o.; in 1882,14 p. c.; in 1883, 29 p. e; in 1884, 19 p. c.
Gross earnings
in 1883, $406,472; rental received, $162,588 ; gross in 1884, $270,245;
New Ca*tle Ac Beaver
Newr Castle, Pa., 15 miles.
rental received
$103,093.
A ew Haven
Conn., 13 miles.
owns
$200,000.
Ac Derby.—Owns from New
Haven, Conn., to Ansonia
Capital stock is $146,600, of which New Haven city
Newr Haven City guarantees the $225,000 second
mortgage bonds, and has a claim of about $300,000 for money ad¬
vanced. In Oct., 1884, negotiations wrere pending between the company
Gross earnings in 1881-82, $166,402 ;
$163.597; net, $75,505. In 1883-84,
gross, $158,206; net, $65,023.
(V. 39, p. 581.)
New Haven Ac Northampton.—Operated from New Haven,
Conn., to North Adams, Mass., 123 miles; branches—Northampton to
Williamsburg. 8 miles; ranniugton Conn., to New Hartford,Conn., 14
miles; South Deerfield to Turner’s Falls, 10 miles; to Tariffville, Conn.,
1 mile; leased—Holyoke A Westfield RR., 14 miles; total, 170 miles.
In April, 1881, a controlling interest iu the stock was sold to New York
New Haven A Hartford parties.
Operations aud earnings for three
and the city for an adjustment.
net. $78,389. In 1882 83; gros3,
past were as follow's :
Years.
1881-82.
1882-83.
1833-34.
Passenger
Mileage.
Freight (ton)
Mileage.
8,726.851
9,052,680
24,800,865
8,773,290
27.295,938
25,328,504
Gross
Net
Earnings. Earnings.
$390,270
860,047
835,813
$333,487
266,191
264,835
RAILROAD
April, 1885.]
STOCKS
AKD BONDS.
61
Subscribers will confer a great favor by giving immediate notice of any error discovered in these Tables.
DESCRIPTION.
For
explanation of column headings, Ac., see notes
on first page of tables.
Miles
Date
Size, or
of
of
Par
Road. Bonds Value.
INTEREST OR DIVIDENDS.
Amount
Outstanding
Rate per
Cent.
When
Where Payable, and by
Payable
Whom.
Bonds—Princl,
pal,When Due.
Stocks—Last
Dividend.
■
.
New York— 1st mort. (reorganization)
N. J‘ Southern—1st mort. (int. guar, by N.Y.A L.B.)
Long Branch A Sea Shore, 1st mort., guar
New Jersey &
Northern—Stock
1st mortgage bonds
New London
2d mortgage
Consol, mortgage (for $1,500,000)
N. Y. dc Canada—1st M., sterling, guar. D.& H. Can.
New York Central <£• Hudson River—Stock
Premium bonds (N. Y. Central) ext. 10 yTs, ’83..
Renewal bonds
2d mortgage, sinking fund (Hudson River)
N. Y. C. & H.,
j $30,000,000 coupon or retr f
mortgage ...) • £2,000,000 * C0Ur°U or re^" \
Debenture bonds (for $10,000,000),coup, or reg..
N. Y. Chicago dc St. L—Stock ($22,000,000 is pref.)
\
1st mortgage, gold, coup, or reg
2d mortgage (foi\$ 10.000.000)
Equip, bonds (principal payable $400,000 yearly)
N. Y. City dc Northern—General mort
New York <£ Greenwood Lake.—1st mort., income
2d mort., income
New Jork <£• Harlem—Common stock
..
Preferred stock
Consol, mort., coup, or reg., (for $12,000,000)
N. Y. Lackawanna & Western— Stock, guar., 5 p.ct.
.
1st mortgage, coupon, may lie registered
2d mort., guar, by D. L. & W. (for $5,000,000)
30
78
....
100
100
100
121
150
993
....
....
....
840
840
523
513
513
....
62
40
156
156
132
213
200
200
1880
1879
1869
....
1865
1872
1880
1874
....
1853
1854
....
1873
1873
1884
$500ac.
600
1,000
200,000
1,500,000
300,000
387,500
100
100&C.
500 Ac.
1,000
812,000
4,000,000
89,428,300
6,450,000
2,391,000
£100Ac
100
500 Ac.
1,000
30,000,000
1,000
9,733,333
6,500,000
50,000,000
15,000,000
1,000Ac
100
1881
1883
1882
1880
1875
1,000
1,000
1,000
500 Ac.
100 Ac.
100 Ac.
50
1872
6 g.
1
5
6
.
7
7
6 g.
6 g.
J. A
6
4,000,000
7
6
M. A
A. A
M. &
F. A
M. A
J. A
J. A
M. A
1,000
1,000
D
S.
O.
N.
A.
S
J.
J.
N
Dec. 1, 1921
N.Y., Union Trust Co.
N.Y., Gr.Ceutral Depot. Mar. 1, 1923
N. Y., Union Trust Co. Oct l,’85to ’94
N. Y., Company’s Office.
May 1, 1910
New York, Co.’s Office,
do
do
N. Y., Gr. Central Depot.
do
do
do
7
do
N. Y. bv D. L. A W.
111
Q.-J.
do
6 g. ! J. A J.
do
do
d<*
5
F. A A
4
7
2 C. L.
2 C. L.
11,650,000
10,000,000
12,000,000
1,000
100
1880
1883
6
7
5
1,046,000
3,697,000
900,000
1,800,000
8,500,600
1,499,400
50
5
A N. N.Y., Mercantile Tr. Co.
1910
A J. N. Y\, Cent.of N.J.Office July 15, 1899
A D
New York.
Dec. 1, 1899
New London, Office.
Jan. 2, 1885
Q.-J.
A. A O. N. Y., B’k of N. America
Sept., 1885
J. A D.
do
do
July, 1892
J. A J.
do
do
July, 1910
M. & N.
London. Baring Bros.
May 1, 1904
Q.-J. N. Y., Or. Central Depot. April 15, 1885
M. A N.
do
do
May 1, 1893
J. A D.
do
cko
Dec. 15,1887
do
do
J. A D.
June, 1885
J. A J
do
do
Jan. 1, 1903
J. A J New York and London. Jan. 1, 1903
VI. A S. N.Y., Gr. Centr’l Depot. Sept. 1, 1904
1*3
1,422,900
....
1,000
M
J.
J.
6
6
7
$275,000
1,449,600
4,450,000
.
Apr. 1, 1885
Apr. 1, 1885
May, 1900
Apr. 1, 1885
Jan.
1,
Aug.
1, 1923
1921
■
i
New
Jersey Sc New York.—Owns from Hackensack, N. J., to
Stony Point, N. Y., 25 miles; leased. Nanuet & New City RR. 5 miles;
Hackensack RR., 6 miles; Garnerville RR., 1 mile; total operated. 37
miles.
Organized Sept. 4, 1874, by consolidation of the Hackensack A
New York RR. and the Hackensack & N. Y. Extension Railroad; re¬
roads were separately foreclosed.
reorganization in April, 1880.
$800,000 preferred. Gross earnings in
ceiver Appointed in 1877, and the two
The present compauy was formed on
Stock.
$2,000,000
common,
V. L. Lary, President, Jersey City.
Jersey Soutliern.—The road extends from Port Monmouth,
Sandy Hook, to Atco, 70 miles, with branch from Eatontown to Pt. Mon¬
1382-83, $223,884 ;net, $26,958.
New
mouth, 9 miles. Thejproperty was sold in foreclosure March 31,1879 (see
Chronicle, V. 28, p; 352), and the present company was organized July
25, 1879. The capital stock is $1,590,600. The property is subject to
ShoreonRailroad.
This RR.
latter
is endorsed
f120,000
the Tom’s River
andbond
$200,000
on the Long
Branch
A
by the
United
Shore A Buffalo road, as a closely parallel line from New York to Buf¬
falo, competed sharply on local business. The dividend was reduojd
ia October, 1834, to 1 k quarterly, instead of 2. The fiscal year ends
Sept. 30. In the first quarter of the current fiscal year Oct 1 to Dec. 31
gross receipts were $6,810,170, against $7,914,128 in 18^3 ; net profits
over int. and rentals. $1,377,034,
against $1,337,329. (V. 40. p. 197.)
Annual report for 1883-4 was published iu the Chronicle, V. 39, p. 679.
Year
Net Income, Divi-
ending Passenger Freight (ton)
Gross
over exp., dends,
8ep. 30. Mileage.
Receipts. int. A rents. p. c. Surplus.
Mileage.
1880.330,302,223 2,525,139,145 $33,175,913$10,569,219 8 $3,427,736
1881.373,768,930 2,646,814,098 32,348,395 7,892.827 8
754,484
1882.432.243,282 2,394,799,310 30,628,731 5.743,904 8 *1,401,608
1883.429,385,561 2,200.396.730 33,770,722 7,327.156 8
179,024
1384 387,829,886 1,970,03 7,115 28.143,667 4,663,759 3 2,490,885
*
ea
Companies of New Jersey. The above mortgage is for $1,590,600, of
which $1,449,600 have interest guaranteed by the New York A Long
Branch Railroad by endorsement of the bonds, and the Central of New
Jersey agreed to assume those bonds. The road is now operated as a
part of the Central New Jersey system.
New London Northern.—Owns from New London, Conn., to
Brattleboro, Vt., 121 miles, of which 100 miles leased to J. G. Smith and
others. This road has been operated since Dec. 1, 1871, under lease to
the Central
Vermont Railroad; the lease
was
for 20 years at $150,000
and $15,000 for each additional $100,0('0 of earnings over
510,000 per year. Consolidated mortgage bonds issued to retire all
other funded aud floating debt aud to pay for branch recently pur¬
er
year,
chased from Vermont A Massachusetts RR.
New York A Canada.—Owns from Whitehall, N. Y., to Rouse’s
l oint, N. \\, 113 miles; branches: Ticonderoga, N. Y., to Baldwin,
N. Y., 4 miles; Plattsburg, N. Y., to Ausable, N. Y., 20 miles; West
Chazy to Province line, 13 miles; total operated, 150 miles.
The whole
line was completed Sept. 18,1876. The road is leased and virtually
owned by the Delaware A Hudson Canal Company, wliich guarantees the
bonds.
The stock is $4,000,000. Earnings 1883-34, gross $695,265;
net, $162,720; loss to lessees, $74,674. Iu 1882 83, gross, $717,667;
net, $116,793; loss to lessees, $118,131.
New York Central A Hudson.—Line of Road.—Owns from
New York City to Buffalo, N. Y., 442 miles; branches on New York
Central division, 306
miles; total owned, 748 miles; lines leased—
Troy A Greeenbush, 6 miles ; Niagara Bridge & Canandaigua, 98 miles;
Spuyten Duyvil A Port Morris, 6 miles; New York A Harlem, 127 miles;
Lake Mahopac, 7 miles; total, 245 miles; grand total, 993 miles. The
second track owned is 513 miles; third track, 317 miles; fourth track,
298 miles; turnouts, 579 miles—making a total of 2,378 miles of track
owned by the company, and 325 miles leased, 2,702 miles in all.
Also
operates the Dun. All. Val. A P. RR., 104 miles, but reported separately.
Organization, Ac. -This company was formed by a ccrsolidation
of the New
York Central and
the Hudson River
railroads
Octobei
The New York Central was a consolidation of several roads
under a special law of April 2,1853! The Albany & Schenectady Rail¬
road, opened September 12, 1831, as the Mohawk A Hudson, was the
ttrst railroad built in the State of New York. The Hudson River Rail¬
road was chartered May 12. 1346. aud road opened October, 1851. The
Athens Branch (Saratoga A Hudson River) was leased in Nov., 1881,
for 475 years to the New York West Shore & Buffalo, and the rental for
whole period commuted for $400,000.
Stock and Bonds.—The famous scrip dividend of 80 per cent on the
capital stock of the New York Central was made in December, 1868.
and on the consolidation with the Hudson River road (Nov. 1, 1869) a
further dividend of 27 per cent was distributed on the New York
Centra! stock aud 85 per cent on the Hudson River stock.
In Nov¬
ember, 1879, 250.000 shares ($25,000,000) were sold to a syndicate
Of bankers by Mr. W H. Vanderbilt at the price of 120, and 100,000
shares more afterwards. Dividends of 8 per cent per annum had been
paid since 1868, but in Oct., 1884, the quarterly dividend was reduced
to Ua per cent. Prices of stock since 1870 have been: In 1871, 84*4®
1038s; in 1872, 89@1017s: in 1873, 7778®106^; in 1874, 95 ?8® 105^8;
In 1875, 100®10738; in 1876, 96® 117^; in 1877, 85^4® 109k; 1878,
103k® 115; in 1879, 112®139; in 1880, 122®1553s; in 1881,130k
® 155; in 1882, 123^138; iu 1883, 111k® 129*8; in 1884, 83k®122;
in 1885 to April 18, 84k®9558.
The mortgage for $40,000,000 was issued to lay the third and fourth
tracks, Ac. The debenture bonds of 1884 were issued for floating debt
$6,500,000, and the balance held to pay off maturing bonds or 1835
and 1887. Any new mortgage issued prior to 1902 must include these
1,1869.
debentures.
Ac.—The New York Central A Hudson
conspicuous among the trunk lines, in not branch¬
ing out and taking leases of lateral roads or extensions, but in
placing a heavy outlay of capital on the main line from Buffalo
to Albanv for the four tracks. The road has a rich local traffic, but
the proflts also depend very much upon harmony among"t-he trunk
lines. Iu the fiscal year 1881-82 the proflts were insufficient to pay
the 8 per cent dividends, and the deficit was $1,401,608. In 1882-83
the surplus over dividend payments was $179,025. In 188 i-84 the de¬
Operations,
River
ficit
to
Finances,
has been
$2,490,885. The large decline in net income was partly owing
general depression, but also to the fact that the New York West
was
Deficit.
-(V. 38, p. 113, 240. 250. 738, 203; V. 39, p. 264, 265, 331.554, 665,
679, 733; V. 40, p. 92. 197, 214, 281, 304. 481.)
New York Chicago A St. Louis.—{See Map Lake Sh. dc If. S.) Buffalo, N. Y., to Grand Crossing, Ill., 513 miles; Leased in Buffalo lk
miles; Grand Crossing to Chicago 9 miles; total, 523 miles.
This Com¬
pauy was formed in 1831 and became kuown as the “ Nickel Plate."
Of the stock $22,000,000 is preferred 6 per cent.
In October, 1882,
the sale of a majority of the stock to a syndicate took place, including
124,800 shares of common stock and 140,500 preferred, at the respective
prii-es (as report© 1) of 17 and 37. The L. Sh. & Mich So. owns this stuck.
On March 29, 1885. D. W. Caldwell was appointed receiver on appli¬
cation of second mortgage bondholders, and default was made on equip¬
ment bonds April 1.
These bonds are secured on the rolling stock,
which was purchased iu 1882 for $6,OCO,M00, of which $2,000,000 was
paid in cash. The trustees can take the rolling stock and sell it, but
there is no lien on the road. The first instalment of pi incip d is due
Oct. 1, 1835. See balance sheet of Dec. 31, V. 40, p. 394. The bendholders hebl a meeting and appointed a committee. See V. 40, p. 454.
The floating debt Dee. 31, ls84, was $2,83d,c00, and was probably
secured largely by the pledge of second mort. bonds, as only $1,046,000 of the latter were reported as outstanding.
The report for year ending Sept. 30, 1834, to the RR Commissioners
showed: Gross earnings. $3,196,476; expenses, $2,2222213; net earnings,
$974,263; iucome from investments, $41,269; total Income, $1,015,552;
rentals and interest, $1,355,993; balance, deficit, $340,441.
-(V. 38, p. 261, 270, 646; V. 39, p. 182, 209, 381, 553, 681; V. 40, p.
270, 39 4, 424, 454.)
New
York City A
Northern.—Owns from 157th Street In 8th
Avenue, New York City (connecting with Metropolitan Elevated), to
Brewsters, N. Y., aud branch, 54 miles. This compauy was organized
March 1, 1878, and acquired the N. Y. West. A Putnam (formerly the
N. Y. A Boston Railroad), sold in foreclosure March, 1876. The com¬
pany in May, 1880, leased the West Side A Yonkers road for 999 years,
aud the consolidated mortgage was issued to take up all the other bonds,
of which $264,000 under a prior mortgage were outstanding Nov. 1,
1884. Stock is $2,990,000. Default was made iu interest due May 1,
1882, and foreclosure is pending
See proposed plan of reorganization,
36. p. 366, 699.
Earnings are about equul to or era ting expensta.
-(V. 38, p. 87, 203, 230, 595; V. 39, p. 1H.2; V. 40, p. 182, 241, 337.)
New York A Greenwood Lake.—Owns from Jersey City, N. J.,
to Greenwood Lake, 43
miles; branches — Ring wood Junction to
V.
Ringwood, 2 miles; North Newark to Orange, N. J., 8 miles; total, 58
miles.
This was the Montclair Railroad, opeued in 1874. It was sold
and reorganized as Montclair A Greenwood Lake, and again sold
October 12, 1878, and the present company organized. The New York
Lake Erie A Western purchased a controlling interest iu the property
and now operate it. The holders of the second mortgage bonds liave
a right to pay off the first mortgage bonds of $900,000 at 105, and thus
gain control of the property.
The stock is $100,000; advanoes due to
the Erie and to Cooper A Hewitt $164,711. Net earnings in 1832
$20,411. In 1883, net earnings, $6,475. Abram 8. Hewitt, President.
(V. 38, p. 704.)
New York A Harlem.—Owns from New York City to Chatham
N. Y., 127 miles. From Chatham to Albany, 24 miles; the Bost. & Alb.
This company owns the Fourth Avenue street railroad.
RR. is used.
The property (exoept the horse railroad) was leased April 1, 1873, for
401 years, to the N. Y. Central A Hudson River RR. at 8 per cent diviidends on the stock and the interest on the bonds. The Fourth ave. horse
railroad was retained, and extra dividends are paid out of its receipts
annually in April. Ail operations of the main road are included with
those of the N. Y. Central A Hudson.
(V. 39, p. 265.)
New York Lackawanna A Western.- From Binghamton to
Buffalo and International Bridge a id branches, 214 miles; built under the
auspices of Del. Lack. & West. Opened Oct., 1882, aud leased to Del.
Lack. A West, for 99 years, with a guaranty of the bonds and 5 per cent
y earl v on the stock. The latter guaranty is written across the face of the
certificates and signed by the D. L. A W. officials. Sept. 30, 1384, owed
D. L. & W. for advances $420,143.
(V. 38, p. 332,705; V. 39, p. 48.)
New York
Lake Erie A Western.—Line of Road.—This
company operates a
system of nearly 1,900 miles of railroad,
requiring a map to show plainly the ten itory occupied. From Sufferns,
Dunkirk, N. Y.,430 miles: branches—Piermont. 18 miles; NewDurg, 18 miles; Buffalo, 60 miles; Erie International RR., 5 miles;
N. Y.f to
RAILROAD
Subscribers will confer a great favor by giving
DESCRIPTION.
For
explanation of column headings, &c., see notes
on first page of tables.
AND RONDS
STOCKS
[Yol. XL.
Immediate notice of any error discovered in tbese Tables.
I
Date \ Size, or
of
Par
Road. Bends. Value.
INTEREST OR DIVIDENDS.
Miles
of
II
Amount
Outstanding
Rate per
Cent.
When
UUP,
Whom.
Stocks—Last
Dividenu.
N.Y., 19 Cortlandt St.
Jan. 15,1884
Where
Payable
Payable, and by
.
1,660
1,660
N. T. Lake Erie d West.— Stock, common
PPAfftTTPd Qtnplr
1st mortgage
2d mortgage,
(extended in 1867 to 1.897)
1857
1858
1861
1863
1870
Buffalo Branch Bonds
Long Dock Co. mortgage
1878
bonds.
1878
1878
1878
1882
Reorganization 1st lien bonds, gold
N. Y. L. E. & W., 2d consol, mort., gold
income bonds (uon-cum.)
do
Collateral Tr. bonds, gold, led’ble at
Car trust bonds
New York dt Long Branch—Stock
110
Mortgage bonds
N. F. <& N. England—Stock ($20,000,000 auth’rized)
1st mortgage C$6,000,000 are 7s)
2d mortgage (for $5,000,000)
Car trust cert, (being exchanged for 2d mort 5s..
Notes and debts for terminal property
New York New Haven d Hartford—Stock
Mortgage bonds, reg. (for $5,000,00! )
Harlem & Portchester. 1st mortgage guaranteed,
do
do
2d mort., coup, or reg../..
New York Ontario d TPe«(em-»-Preferred stock
Common stock
1st M., gold, for $4,000,000 (redeemable at 110)..
rH
1847
1879
1853
gold (extended in 1879)
3d mort., gold (extended 40 years at 4^ p. ct)—
4th mort., gold, (extended in 1880 at 5 per cent).
5th mortgage, convertible
1st consolidated mortgage, gold
do
funded coupon
do
(
oo oo
1,000
1,000
1,000
500 &c.
100 &c.
1,000
1,000
500 etc.
1.000
500 &c.
300 Ac.
1,000
....
2,500,000
33,597,400
508,008
18-234.
5,000,000
5,666,000
2,000,000
1,500.000
1882
380
263
8,134,800
2,482,000
2,149,000
4,618,000
2,926,000
709,500
182,600
3,000,000
16.890,000
3,705,977
1,000
....
38
$77,150,600
Yearly.
7
5 g.
4%g.
5
7
7
7
7
7
6
6
6
6
6 &
g-
g.
g.
g.
g.
g
M. &
M. &
M. &
A. &
J. &
J. &
J. &
M. &
M. &
M. &
J. &
J. &
M. &
o
w
1876
1882
1.000
1,000
10,000,000
2,833,000
(?)
ioo
1883
1873
1881
1884
1,646,532
15,500,000
2,000,000
2,000,000
1,000,000
2,000,000
58,113,982
(?)
ljOOO&e
1,000
1,000
i‘,6bo
Rutherford to Ridgewood, 11 miles; leased—Montgomery & Erie RR.,
10 miles; Goshen & Deckertown, 12 miles; Newburg & New York*,
13 miles; Paterson Newark. &N. Y., 11 miles; Hawley & Honesdale, 24
do
N.
do
S.
do
do
do
S.
do
0.
do
do
do
do
D.
uo
do
J.
do
do
D.
8. New York and London.
do
do
S.
do
do
N.
do
do
D.
do
do
D.
do
do
N.
.
May 1, 1897
Sept. 1, 1919
Mar. 1, 1923
Oct, 1, 1920
June 1. 1888
July 1. 1891
Jan., 1893
Sept. 1, 1920
Sent, 1, 1920
Dec. 1, 1908
Dec. 1. 1969
June 1, 1977
Nov. 1, 1922
1886-1892 *
....
"5*
N.
18,120,000
1882
257
123
12
12
421
421
421
”e’
6 & 7
6
6
J.
Y., 119 Liberty St.
&'‘j. Bost.,Treasuier’s Office.
F. & A.
A. & 0.
do
do
Various
J. & J. N.Y., Grand
do
J. & D.
do
A. & O.
do
J. «fe D.
4
5
4
6 & 7
4
12
_
Og.
.
.
M.'&'S.
J
...
Celt. Depot.
Tr
do
do
do
^
New York
Jan., 1905
Aug. 1, 1902
1883-92
1883-92
Jan. 1, 1885
June 1, 1903
1903
June 1. 1911
March 1, 1883
Sept. 1, 1914
The statement of profit and loss incVu,'wnumerous items, and refer¬
should bo made to the table in V. 39, p. 605, of which the totals arc
as follows for the fiscal years ending Sept. 30,1881.1882,1883 and 1884:
1882.
1884.
1881.
1883.
Total income...
$8,303,681
$7,66*^,335
$3,234,463
$6,356,983
Total debits....
6,968,978
6,416,263
6,501,693
7,055,606
ence
mile&; Jefferson RR., 37 miles; Buf. Brad. & Pittsburg and extension, 78
miles; Buff. N. Y. & Erie, 140 miles; Suspension Bridge & Erie Junction,
23 miles; Rochester & Genessee Valley, 18 miles; Avon Gen. & Mount
Morris, 17 miles; Pat. & Hud., 15 miles; Pat. & Ram., 15 miles; Lockport
$1,887,417
$1,166,642
$1,265,485 *def.$698,622
& Buf., 13 miles ; Buf. & Soutliw., 68 miles; controlled—Newark & Hud., Surp. or deficit.
6 miles; Weehawken N.Y. & Ft. Lee, 5 miles; Northern of N. J., 25 miles;
In 1883-84 this allows for full interest on 2d consols, though only
N. Y. Penn. & Ohio and branches, 547 miles; total operated, 1,622 miles. two months’ interest of that fiscal year was actually paid.
On May 1,1883, began to operate the New York Pennsylvania & Ohio —(V. 38. p. 87, 203, 329, 359. 373, 388, 424, 439, 455, 495, 509, 595,
under lease, and on Mav 14,1883, the Chicago & Atlantic road was 646, 691, 706, 7*21, 738 ; V. 39, p. 33,48, 157, 182, 209, 234, 246, 265,
opened from Marion, Oliio (on the New York Pennsylvania & Ohio), to 277,297,324,349,409, 421, 435, 514, 522, 581, 595, 604,692,707,
Cnicago, 268 miles, and under control of N. Y. Lake Erie & West, gave a 733; V. 40, p. 23, 92, 151, 164, 182, 214, 241, 270, 281, 304, 363. 425.)
complete line from New York to Chicago.
New York Sc Long Bri nch.—The following-named companies
Organization. Leases, &c.—The New York & Erie RR. was chartered were consolidated on December 21, 1881: New York & Long Branch
April 24, 1832, and the State of New York loaned the company $3,000,- RR., from Perth Amboy to Long Branch, 23 miles; New Egypt & Far000, and after financial difficulties the road was opened to Dunkirk, the mingdale RR., from Long Branch to Ocean Beach, 7; Long Branch <te
Western terminus, April 22,1851. The company defaulted and reor- Sea Girt RR., from Ocean Beach to Sea Girt, 3; New York <fe Long
Branch Extension RR., from Sea Gi rt to Point Pleasant, 3 ; Long
861, the preferred stock being then issued for certain obligations. The Branch & Barnegat Bay RR., from Point Pleasant to Bay Head, 1;
Erie Railway defaulted on its bonds in 1875, and was sold in foreclosure total length, 38 miles.
The Central RR. of New Jersey holds a ma¬
under the second consolidated mortgage in 1878. The present com¬ jority of the stock, and by contract of Jan. 3, 1882. the Penn. RR. and
pany was organized and took possession June 1, 1878.
Under the Central of N. J. agree to pay 32 p. ct. of gross traffic—$206,000 per year
plan of reorganization the common stock paid a cash assessment cf $4 as a minimum to $240,000 as a maximum. When thePhila.& Read, leased
per share and preferred stock $2 per share. One-half of the stock was the Central of N. J., litigation was begun to deprive the Penn. RR. of
issued to “ Voting Trustees ” in London, who voted until the dividend further use of this route, but a compromise was male. Gross earn¬
on the preferred stock (6 per cent) had been paid for three consecutive
ings for the year 1883 were $544,390 and deficit on operations $35,383.
years (viz., Jan. 1884), after which the stockholders Lof the company Interest charge. $90,000 and dividend of 1% per cent $35,000, making
resumed possession.
total deficit, $160,383. (V.37, p. 343 ; V. 38, p. 679.)
Stock and Bonds.—Preferred stock has a prior right to 6 per cent
New York: Sc New England.—The mileage owned is as fol¬
(non-cumulative) from the net profits, “as declared by the board of di¬ lows: Boston to Hopewell Junction, 215miles; Wicopee to Newburg, 3
rectors,” and in Jan., 1883, it was decided by the U. 8. Circuit Court that miles; Providence to Willimantic, 58 miles; branches—Newton, Mass.,
when sufficient earnings were shown the dividend must be paid.
to Woonsocket, R. I., 28 miles; East Thompson, Conn., to SouthPrices of com. and pref. stock since June, 1878, have been as follows: bridge, Mass., 17 miles; Elmwood to Dedham, Mass., 1% miles; Charles
Com.—In 1878, 7^22^; in 1879, 21*8®49; in 1880, 30®51ie; in 1881, River to Ridge Hill, Mass., 2 miles; Dorrance Street, in Providence,
393*,®5278; in 1882,33%®43%; in 1883, 2678®4078; in 1884, 11 ^@2838; 2 miles; total owned, 326 miles. Leased—Franklin to Valley Falls, 14
in 1885 to April 18,11%® 14%. Pref.—In 1878, 21%®38; in 1879, 37%®
miles; Vernon to Rockville, 4 miles; Springfield to E. Hartford, &c., 34
78%; in 1880, 47®93%; in 1881,80%®96%; in 1882, 67®88%; in 1883, miles; Norwich & Worcester RR., 66 miles; total leased, 119 miles; also
72®83: in 1884, 20®71; in 1885 to April 18, 20®30.
has running arrangements ovsr 26 miles more. Total, 471 miles.
The funded coupon bonds are secured by lien of consolidated
The former Boston Hartford & Erie Railroad became insolveat and was
mortgage.
On the second mortgage and second funded coupon no succeeded by this company, formed in 1873. The Boston Hartford &
forech sure can take pTece rill six successive coupons are in default, Erie’s principal debt was the Berdell mortgage for $20,000,000, which
but all ot one coupon must be paid before any part of a subsequent was made exchangeable into the stock of this present company.
In
*
fanization was made under the name of Erie Railway Co., June 25,
In 1882 the reorganization first lien bonds dated 1878 1878-9 the company acquired the Hartford Prov. & Fislikill RR. by the
consol, mort. and its funded payment of its bonds.
Since the completion of the line to Fislikill on the Hudson and a con¬
coups. In 1883 the collat’l trust bonds were issued, amounting to
$5,000,000 (the U. 8. Trust Co. trustee), secured on a number of different nection there with the Erie and West Shore roads in 1833, the through
stocks and bonds owned by the company, as enumerated in V. 38, p. traffic rates have been demoralized, and the N. Y. & New England has
509, and redeemi.ble at 110 on three months’ notice.
not yet realized the fu’l benefit of th.it extension.
Operations, Finances, &c.—The company since its reorganization
On January 1,1884, Mr. C. P. Clark, the President, was appointed the
in 1878 has essentially changed its character, and has become a stand¬ receiver. The proposed financial plan was to issue new preferred stock
ard gauge sjrstem, with direct connections to Chicago and St. Louis. for $5,000,000, and to use the balauce of 2d mortgage bonds unsold
The income account for several years showed a considerable surplus over ($2,000,o< 0). See V. 39. p. 409. For the car trust bonds 2d mortgage
fixed charges, but in 1883-84 the income fell off largely, and there bonds are issued, bearing 3 per cent for five years, five per cent for two
was a deficit below the interest requirements, and the coupon of June,
years and 6 for balance of term. The annual report for 1883-84 gave a
1884, on the 2d consol bonds, was passed, partly in consequence of losses good account of the situation of the property, and represented the
by the failure of Grant & Ward. At the election in November, 1884, a results of the year as exceptionally bad, with better prospects in
complete change was made in the directory and Mr. John King elected future.
President. Mr. Jewett retired, and his report (Vol. 39, p. 604) should
Gross earnings for five months from Oct. 1,1884, were $1,256,978,
be referred to for particulars of the company’s financial position/
against $1,387,039 in 1883-4; net, $348,577, against $43,567 in 1883-4.
Some of the holders of car trust bonds were reported to have relin¬
The operations of the Norwich & Worcester road are kept separate.
quished their right to annual drawings of principal, and some of the See annual report for year ending Sept. 30, 1884tin V. 39, p. 652. Oper¬
coupon
were
is paid.
issued, and they rank next to the 1st
holders of series F. and G. agreed to reduce their interest to 5 per cent,
but as to these matters no official information has been given.
Gross earnings for five months, from Oct. 1,1884, to March 1,1835,were
2,096,782 inagainst
1883-4.$9,479,300 in 1883-4; net, $1,872,475, against
f7,828,647,
report for
ending Sept. 30, 1884, published in the
The annual
year
Chronicle, V. 39, p. 604, had the following:
OPERATIONS AND FISCAL RESULTS.
1881-82.
Operations—
1880-81.
1882-83.
1883-84.
Passengers carried..
6,144,158
6,784,195
6,734,045
6,934,724
Passenger mileage .. 200,483,790 225,130,883 247,147,117 235,105,058
Rate $ pass. $ mile
2-016 cts.
1*947 cts.
1969 eta.
2-189 cts.
Freight (tons) moved 11,086,823 11,895,238 13,610,623 *16,219,598
Freight (tons) mil’ge 1984394855 1954389710 2306946802*2498888976
Av,rate $ ton $ mile
0*805 cts.
0‘749 cts.
0*780 cts. *0*685 cts.
$
harmng8—
$
$
$
4,041,267 4,384,510
4,675,872
Passenger
4,632,229
Freight
15,992,275 14,642,128 17,213,621 15,773,004
Mail, expr’s,rents, <fec.
682,063
1,188,559
949,136
956,396
Total gross
earn’gs 20,715,605
19,975,774 22,«u2,z*6 21 637,435
Operating expenses. 13,256,230 13,088,093 15,444,583 16,358,077
Net earnings
7,459.375
6,887,681
7,357,603
5,279,35
P. c. op. exp.to earn’s
64-00
65*50
64*78
69*5
In all the figures for 1883-84 the N. Y. Pa. & Ohio statistics are
*
included for the entire year,
months only.
but in 1882-83 they were included for five
ations, <fec., for three years past were:
Av.
Freight (ton)
Gross
Passenger
Years.
Miles.
Mileage.
Mileage.
Earnings
55,853,672
103,668,653 $3,268,810
380
Net
Earnings.
3,571,858
385,480
384
53,815,074
153,213,910
$909,194
54,299,316
138,534,292
420,406
3,362,032
382
—(V.38,p. 1,30, 60, 148, 203, 230, 295.332.379,424. 456,540.679.706,
764; V. 39,p. 22,157, 234, 265,409, 435, 553, 652,682, 707, 733; V. 40,
p. 28, 120, 152, 182, 269, 338, 363, 394, 425, 454.)
New York New Haven Sc Hartford.—Owns from Harlem June.
N. Y., toSpriugfleld, Mass.. 123 miles; branches to New Britain, Middle
town andSutfield, 18 miles, leased—Harlem & Portchester RR., 12 miles
Shore Lino RR., 50 miles; Boston & New York Air Line and branch, 54
miles; Stamford & New Canaan Road, 8 miles—total operated, 263
miles. This was a consolidation July 24, 1872, of the New York& New
Haven and the Hartford & New Haven railroads. The company uses
the N. Y. & Har. RR. from Williamsbridge into N. Y. City and pays a
large rent therefor.
The company leases the Harlem River & Port¬
chester Railroad, and guarantees the bonds. In November. 1882, the
lease of the N. Y. & Boston Air Line for 99 years at 4 per cent per an¬
num on the preferred stock was made.
In Sept., 1882, the stock of the
Hart. & Conn. Val. road was purchased. In April, 1881, a controlling in¬
parties
terest was bought in the N. Haven & Northampton RR. stock by
in the interest of this company. In 1833 the mortgage for $5,000,000 at
4 per cent was authorized, to be issued as required in making improve¬
ments on the main line.
Fiscal year ends September 30. Annual report was in V. 40, p. 60.
April,
Subscribers will confer a great favor
For exe'anation of column headings,
on first page of tables.
&e., see notes
-
First mortgage
1st mortgage
Y.Susquch.& Western—1st mort., Midland
1st moit., gold
Mortgage, gold, on Paterson Extension
m.)
1880
$500&c.
1880
1880
460
1880
500 &c.
500 Ac.
500 &c.
•
•
of N. J.
....
Scrip for coupons (redeemable at option)
Car trust certificates
N. F. Tex & Mex.—1st M.. gold, 1. g. (for $8,000,000)
N. Y. West Shore <£• Buffalo—1st M., gold, coup. & reg.
Income bonds (for $20,000,000)
W. Shore A Ont. Terminal Co., 1st M., gold, guar.
Receiver’s certificates
Car trust certificates
N.Y. Wood, tt Rock.—1st mortgage
Niagara Bridge <& Canandaigua—Stock
Norfolk cC Southern—1st mortgage, gold
2d mortgage, income (cumulative)
....
....
....
463
Dividend charges (10 p. c.)
....
....
....
....
16
100
75
75
18*3-4
1882
1,000
100
....
1880
1881
1881
510
510
428
80
510
510
1,000
1,000
1,000
100
100
....
1881
1882
1883
1884
1.000
1.000
1,000
1,000
1881-82.
1P82-83.
1883-84.
$2,141,918
$2,235,907
$2,232,215
272,227
170,000
423,3 >1
190,485
422,992
442,227
1.699,691
1,550,000
149,691
652,718
1,583,189
1,550,000
33,189
250,052
38,882
—
Balance
—(V. 38, p. 59, 595; V. 39, p.
673.044
1,559,171
1,550,000
9,171
580; V. 40, p 60,214.)
Ontario Sc Western.—Owns from Oswego, N.Y., to
Middletown, N. Y., 250 miles; branches to Courtland. N. Y.,48 miles,
to New Berlin. 22 miles
to Delhi 17 miles: to Ellenville, 8 miles;
leased—Middletown to Cornwall and thence to Weehawken, 77 miles ;
total operated, 421 miles.
This was the New York & Oswego
Midland. Main line was opened
July, 1871. Default was made in 1873. The main line was sold in fore¬
The present company was organized
closure November 14, 1879.
January 22, 1880. From assessments about $10,000,000 was realized,
the holders of first mortgage bonds taking new common stock without
paying any assessment, and the holders of receivers’ certificates taking
preferred stock. The terms of reorganization forbid the placing of
a mortgage ahead of these stocks, except by conseut of a majority of
new
holders of both stocks.
In September, 1881, agreements were made with the New
Shore & Buffalo road. Preferred stock to receive 6 per cent (non-cumulative) from net earnings; surplus goes to common. In March, 188a,
dividends for two years were paid on preferred stock. (See terms of
alliance with the N. Y. W. Sh. & Buf. below under title of that company.)
In July, 1884, an English committee examined into the affairs of the
company, and effected the following important
as per
York West
changes
their
182, viz.: 1. The guarantee of $i00,000 per annum
has been canceled, the only obligation being the payment of 25 per cent
of the local and West Shore train earnings, which amounts at present to
about $200,000 per annum.
2. The Ontario Co. is not to pay 25 per
cent of its own traffic, but retains the whole of the earnings from its
own traffic coming from north of Middletown (which at the present
time exceeds $200,000 per annum, and is increasing), until the gross
earnings from all sources on the section exceed $2,000,000 per annum.
3. The allowance per train mile for West Shore trains over the leased
line was reduced to 37 cents per mile for passenger trains of five cars
Cent.
Payable
6
7
5
5
6
6
6
2
7
4
6
6
6
6
6
6
6
14,500,000
30,000,000
1,848, <00
1,000,000
0)
3,000,000
1,000,000
300,000
3,500,000
2,500,000
250,000
600,009
G)
923,772
3,000,000
50,000,000
10,000,000
6,699,000
2,000.000
1,500,000
1.500,000
g.
g.
g.
g.
g-
g.
Tables.
Bunds—Princi¬
5 g6
6
6 g.
3
6 g.
6
6
g.
g.
g.
g.
Stocks—Last
Dividend.
M. A 8. London and New York. March 1,1895
do
do
J. A J.
July 1, 1905
do
do
M. AN.
May 1, 1910
do
do
M. AN.
Nov., 1915
J. A J.
A. A O
New York Agency.
J. A J.
July 1, 1921
Q.—F. N. Y., Central Trust Co. Feb. 10, 1885
do
do
J. A J.
July 1, 1899
do
do
A. A O.
April 1, 1901
A. A O. N.Y., Nat, Park Bank.
April 1, 1910
J. A J. N.Y., Company’s Office. July 1. 1911
1911
do
do
T. A D.
do
do
F. A A.
Aug. 1, 1897
1895
do
do
A.
J;
New York A London.
New Yorxor London.
A 0.
A J.
F. A A. New York or London.
J. A J.
Various
Treasurer’s Office.
J. A J.
A. A O. N. Y., Cent. RR. Office.
M. A S. N. Y., Mercantile Tr. Co.
1887-1893
Oct. 1, 1912
July. 1931
Aug. 1, 1923
July, 1887
1884-94
Jan. 1, 1902
April 1, 1885
Sept. 1, 1920
Jan. 1, 1970
Yearly.
A. A 6. N. Y.f Mercantile Tr. Co. Oct. 1, 1892
Jan.
scrip. Q.—Mcb
6
6
6
7
pal,When Due.
Payable, and by
Whom.
Quar.
g.
g*
4,417,000
2,500,000
2,909,000
599,000
1,000,000
900,000
1,000,000
250,000
6,931,900
17.455,500 3*3
15,1884
Philadelphia. May 1, 1931
M. A N. N. Y. and
do
do
A. A O.
F. A A. Compy’s Agency, Phila.
New York and Phila.
Q-M.
tend from New York City to Marion, O.
of the mortgage, and Gen. J. 8. Negley,
April 1, 1932
Feb. 1, 1934
Deo. 1, 1924
Henry Day, N. Y., is trustee
Pittsourg, is President.
New York Providence A Boston.—Owns from Providence. R.
I., to Groton, Conn., 62 miles; Warwick RR., 10 miles; operates also
Pawtuxet and Pontiac branch roads. 10 miles; total operated, 82 miles.
Owns
majority interest in the Providence A Stouington Steamship
Line, which has a capital of $1,400,000. Operations and earnings for
past were :
Passenger
Miles.
Mileage.
two years
Years.
..82
New York
report in V. 39, p.
182-43.7
When
41,457,000
1869
1,000
1881
1,000
500 &C.
1880
1881
1,000
1881
1,000
500
1882
1885
1882-3 500 Ac.
500
1882
1881 l,000Ac
1884
1883 1,000Ac
....
Sinking fund debenture certificates
Norfolk dk Western.—Common stock
Preferred (8 per cent) stock
General mortgag, gold (for $11,000,000)
—
1st M., gold, on New Riv. div, (cp., but may be rg.)
Improv. <fe Ext. mort., gold, ($8,00 i>,000 author’d)
Adjustment mort., gold (red’ble after ’94 at 110).
Interest on debt
Other interest
Total
Surplus
....
Where
Rate per
$8,000,000
500 Ac.
100
1881
•
82
50
12
72
114
....
&c.)
Outstanding
427
460
460
•
bonds
Net earnings
Disbursements—
Rentals (incl. depots,
Amount
gold
mortgage
N.Y.Pittsburg <£• Chic.— 1st M., gold ($18,000 p.
N. Y. Prov. <£ Boston— (Stonington)— Stock
Inoorae
Debenture
by giving Immediate notice of any error discovered In these
Miles
Date
Size, or
Par
of
of
Road. Bonds Value.
lien bonds, goId,$A£
July, 1895,) $ A £ .
2d mortgage, incomes, $ A £
3d mortgage, incomes, $ A £
N. r. Phila. <& Norfolk—1st mortgage,
N
09
BONDS.
INTEREST OR DIVIDENDS.
DESCRIPTION.
New York Penn. <£* Ohio—Prior
1st mort., gold, (incomes till
AND
STOCKS
KAJLROAD
1885.]
Gross
Freight (.ton)
Total net Div.
27.016757
Mileage.
Earnings.
15.384,287 $1 133,445
$419,139
Income,
28,168,212
16,688,298
1,185,330
457,675
p. c.
8
8
—(V. 39, p 681.)
New York Susquehanna Sc Western.—Jersey City to Gravel
Place, 101 miles; Two Bridges, N. J.. to Unionville, N. Y., 21 miles; other
branches, 12 miles; leased—Unionville. N. Y., to Middletown, N. Y., 14
miles; Lodi Br., 2 miles; total operated, 150 miles.
The New Jersey Midland was built as a connecting line of the New
York A
Oswego Midland, and went into receiver’s
hinds March 30,
1875, aud was sold in foreclosure Feb. 21, 1880, and the Midland of
New Jersej' was organized. The New York Susquehanna A Western was
a consolidation in June, 1881, of the Midland of New Jersey, the Pater
son Extension, the North Jersey, the Pennsylvania Midland and the Mid¬
land Connecting railroads.
Stojk, common, $13,000,000; preferred
(cumulative 7 per cent), $8,000,000. The amounts of stock were reduced
$20,000,000 com. and $10,000,000 pref. Tbe New Jersey
Midlaud junior securities were exchangeable into stock of this company
ou certain terms, and the status of the exchanges was stated in the
Chronicle. V 38, p. 594.
In Jan., 1885, the holders of N. Y. Sus. & W. rnortg. bonds and deben¬
tures were asked to fund in scrip one-balf of the coupons then due,
the other half being paid in cash.
Gross earnings in 1883 were $1,038,656; net, $400,064; interest on
bonds. $382,500. In 1884 gross, $1,034,208; net, $416,520; interest,
in 1882 from
$403,675.
(V. 38, p.230, 541, 594; V. 40, p. 28, 182, 241, 330.)
Mexican.-Line projected from Rosenburg
New York Texas Sc
Junction, Texas, to
Brownsville, 350 miles.
July, 1882, 92 miles in
operation. Mortgage $22,850 per mile, covering 5,120 acres of land,
being half of the grant, which is 10,240 acres per mile, if it oan be odteined. Stock, $2,000,000. The road was operated by the contractor
till Juue, 1884. D. E. Hungerford, President, Victoria, Texas.
New York West Shore Sc Buffalo.—This was a consolidation in
July, 1881, of the N. Y. W. S. A Buff., the Jer. C. A Alb. and the No. Riv.
RRV The line of road is from Weehawken, N. J., to Athens, on the Hud¬
son Riv. (with branch to Albany), and thence to Buffalo (425 miles), and
connecting with the road of the N. Y. Ont. & W. at Middletown, N. Y., by a
branch from Cornwall on the Hudson, total length 472 miles.
The
difficulty in their negotiation. See Y. 40, p. 481.
company also has a contract with the N. Y. Susquehanna & Western RR.
In the year ending Sept. 30, 18s3, gross earnings were $1,357,778
and net $159,702. In 1883-84, gross, $1,789,939; net, $35,305. See to run its cars from Little Ferry, N. J., over the tracks of that road to the
annual report in V. 40, p. 119. (V. 38. p, 230, 359, 883, 571; V. 39, p. Penn. RR. depot in Jersey City. At the western terminus reaohes Sus¬
pension Bridge and International Bridge over the N.Y. L. E. & W. tracks.
22, 182, 324, 454, 493, 733 ; V. 40, p. 11 9,182, 481.)
The N. Y. Ontario A Western leases from the N.Y. West Shore & Buffalo
New York Pennsylvania & Olilo.—Owns from Salamanca, the piece of road from Middletown to Cornwall, and from Cornwall to
N. Y., to Dayton, O., 388 miles; branches—Franklin June, to Oil City, Weehawken, for 99 years. (See modified terms under New York Ontario
34 miles; Junction (main line) to Silver Creek, O., 2 miles; total owned, & Western.) This lease is subject to tbe right of the N. Y. West Shore &
424 miles. Leased lines—Cleve. A Mahon. RR., Cleveland, O., to Pa. Line, Buffalo to run over the road from Cornwall to Weehawken, accounting
and branch, 81 miles; Niles A New Lisbon RR., Niles to New Lisbon, 36 to the N. Y. O. & W. for its pro rata share of the earnings.
The terminal property on the Hudson River at Weehawken embraces a
miles; Liberty A Vienna RR„ Vienna Junction to Vienna, 8 miles; Ohio
Line to Sharon, Pa., 2 mile; Sharon R’y, and extension, 15 miles; water front of 6,790 feet; it is owned by a company entitled ** The
Youngstown Branch, 4 miles; total, operated, 570 miles. Changed to West Shore & Ontario Terminal Co.,” aud it is leased jointly and separ¬
standard gauge June, 1880. Formerly Atlantic & Great Western Rail¬ ately to the two railroad companies, and one-half its stock is held by each
way. Sold July 1, 1871, and leased to Erie on May 1, 1874, but lease company (the total stook being $5,700,000), and the bonds ($12,000,000)
not carried out.
Again sold Jan. 6,1880, and reorganized by a London are guaranteed, principal and Interest, by both of the railroad companies.
The stock is $40,000,000 and 1st mortgage bonds $50,000,000, the U.
committee of stock and bond holders. (*eeV. 30. p. 143.)
Five trustees exercise the voting power of the new stock until the third 8. Trust Co. of New York being trustee. These bonds cover the road
mort. bondholders receive 7 per cent interest in cash during three years.
and equipment, but not the Weehawken terminal property.
The first mortgage bonds bear 7 per cent, whatever portion of this that
From Cornwall to Buffalo the North River Construction Company was
may not be earned to be payable in deferred warrants, to be capitalized the builder. On Jan. 12, 1884. Mr. Ashbel Green was appointed receiver
In bonds of the same class; payment of interest to become absolute not of the No. River Construction Co.
His financial statement was made in
later than July 1,1895, and until June 1, 1895, the right to foreclose April, 1884 (see Chronicle, V. 38, p. 456), giving assets of the Construc¬
the mortgage is suspended. On the second and third mortgages there tion Company, including a majority ($20,035 500) of West Shore stock.
The coupons of Julr 1,1884, on the 1st mort. N. Y. W. S. & B. bonds
is no right to sue the company or to foreclose. The stock is-preferred
were not paid.
Foreclosure proceedings are pending. On June 7.1834,
$10,000,000; common, $34,999,350.
From May 1,1883, leased to N.Y. Lake Erie A Western. The rental Theo. Houston and Horace Russell were appointed receivers.
The
will be 32 per cent of all gross earnings up to $6,000,000, and 50 per inc *me bonds have been issued in part only, or pledged as collateral.
cent of all gross earnings above $6,000,000, or until the gross earnings
The proposed plan of reorganization was given at much length in the
are $7,2o0,000, and then 35 per eent of all earnings.
But if 32 per cent Chronicle, V. 40, p. 425-6.
of the gross earnings should ever be less than a specified minimum sum
The statement of earnings for the year ending Sept. 30, 1884. gave
of $1,757,055 to be paid yearly, then the deficit is to be made up without $2,979,331 gross; operating expenses, $3,664,294; deficit, $684,963;
interest out of the^excess In any subsequent year. Out of the rental paid, terminal rents, $416,678: interest, $2,604,581; miscellaneous, $7,806;
the N.Y. P. & O. has to pay its int. and rentals, and for five years a pay¬ total deficit for year, $3,714,028.
ment of $260,000 a year to the car trust. Gross earnings for year end¬ —(V. 38. p. 30, 60, 6i,115, 148, 178, 203, 230, 262, 359, 456, 509,
ing September 30, J884, $5,909,49« ; net, $1,620,759; rental to N.Y. 540, 572, 595, 706, 76 i ; V. 39, p. 71, 96, 149, 182, 265, 382. 522, 682 ;
P. & O., $1,891,039; loss to Erie, $270,281.
(V. 38, p. 374; V. 40, p.28.) V. 40, p; 27, 93, 182, 338, 363, 394, 406. 425, 454, 481.)
New York Philadelphia Sc Norfolk.—V. 39, p. 654,
New York Woodhaven Sc Rockaway.—Owns from Glendale
and 51 cents for freight trains of 30 cars.
Of the $4,000,000 of 6 per cen*-- first mortgage bonds $2,000,000 are
reserved to-retire the preferred stock. A majority of common and pre¬
ferred stockholders assented to this issue of bonds, but there was some
New York Pittsburg Sc Chicago.—This was the projected line,
from Red Bank, Pa., to Huntington, Iud.. and to Chicago, forming a west¬
ern connection for the Central of N. J.
The company was building from
Wampum, Pa., to Marion, O., 165 miles, and the
whole route was to ex¬
Rockaway Beach, 11 miles; leased—Glendale to
Long Island Citv, 6 miles; total operated. 17 milts. The stock is
$1,000,000. Income bonas. 6 per cent. $1,000,000 A readjustment of
the finances took place in 1882, and the new $600,000 first mortgage
Junction, L. I., to
RAILOD
STOCKS
AND
BONDS.
[Vol.
XL
Subscribers
will confer
a
Norfolk. A Western—(Continued)—Car trust
Convertible debent’res (red’ble on 30 days’ notice)
Norfolk A Petersburg—2d mort
South Side—1st pref. consol, mort. (6s, ext.in ’85)
do
2d
do
guar. Petersb’rg
3d
do
Virginia & Tenn.—Enlarged mort. (extend’d in ’84)
do
do
4th mortgage
North Carolina—Stock, common
Preferred stock
Mortgage bonds
North Pacific Coasts-1st and 2d mortgages
North Pennsylvania—Stock, guar
2d mortgage
General mortgage bonds
Bonds secured by $1,200,000 stock
Northeastern (S. C.)—Stock
^
-
81
133
133
133
214
214
223
223
223
76
88
56
•
•
•
m
M
m
Var’s
1884
$....
1868
1,000
1,000
1866
1866
1st mortgage, State (Maryland) loan
2d mortgage, coupon, sinking fund
:
gold, coupon
gold, registered
Consol, general mort., gold, s. f., coup., $ or £—
do
do
gold, coup. $
2d general mort., “A,” coupon (sinking fund)
do
“B.” coupon (convertible)
1st mortgage
149
47
323
138
138
138
138
138
138
•
•
•
•
138
138
....
Outstanding
discovered In these Tables.
1854
525,000
496,000
603,000
488,300
452,800
990,000
1,000,000
3,000,000
1,000,000
1,000
1,000
1865
100
100
500
’67-’68
1881
•
•
•
m
m
m
m
■
•
•
•
•
210,000
1,100,000
50
500 Ac.
™
®
4,399,750
1,500,000
4,169,500
1,200,000
899,350
820,000
«
1881
.
.
50
500
500
„
1869
1869
1883
1877
1878
322.000
1,000
694,000
1,000
1,000
3,964,000
1,023,000
6,500,000
1,500,000
1,490,000
1,126,000
50
•
•
•
m
•
m
m
to
1856 500 Ac.
500 Ac.
1865
1868
1,000
1868
1,000
1874-5
1,000
1876-7
],000
1876
1,000
1876
1,000
500 Ac.
2,599,000
205,000
2,505,000
1,987,000
2,841,000
1,000,000
900,000
,
....
issued and the $1,000,000 incomes were issued for the old mortgage
Inl882-3 gross earnings were $148,614: net, $77,748; interest
and rentals, $75,569; in 1883, gross, $L49,420; net, $64,718; interest
and rentals, $75,136.
was
bonds.
Rate per When Where
Cent.
Payable
Bonds—Prinoi
pal,When Due.
Stocks—Last
Dividend.
Payable, and by
Whom.
Various.
New Yerk A Phila.
Jan. 15, 1894
J.
Philadelphia Office.
J. iN. Y. and Philadelphia. July 1, 1893
1
1890 and 1900
do
do
J.
1890 and 1900
do
do
J.
do
do
J.
Jan.l,’96-1900
do
J.
do
July 1, 1900
Men. 1, 1900
do
do
J.
S. Company Shops, N. C.
March, 1885
do
do
S.
March, 1885
N.
do
do
Nov., 1888
Nov. 1, 1901
N.
Feb. 25, 1885
Q.-F.
Philadelphia Office.
do
do
M. A N.
May 1, 1896
1903
do
do
J. A J.
M. A 8.
do
do
Sept. 1, 1905
M’nthly
$1,632,479
500
200 Ac.
200 Ac.
1866
140
102
102
r.
Amount
*
m
v
Consol, mort., gold (for $1,836,000)
Northern (Cal.)—1st mortgage ($6,300,000), gold..
San Pablo A Tulare—1st mort. ($3,750,000)
Northern Central—Stock
Union RR.,
Miles Date
Size, or
of
of
Par
Road. Bonds Value.
■
1st mortgage
2d mortgage
3d mortgage, coupon
Consolidated mortgage,
Consolidated mortgage,
65
BONDS.
INTEREST OR DIVIDENDS.
explanation of column headings, Ac., see notes
on first page of tables.
do
AND
great flavor by giving Immediate notice of any error
DESCRIPTION.
For
STOCKS
EAILEOAD
April, 1885.J
6
8
8 A
6
6
5
8
3
3
8
6
2
7
7
3
6
8
8
6
6
6
4
6
6
6
6
6
6
6
5
5
6
6
J.
J.
J.
J.
J.
J.
J.
M.
M.
M.
M.
A
A
A
A
A
A
A
A
A
A
A
•
g.
g.
g.
g.
g.
g.
...
April 10,1883
Sept. 1, 1899
Sept. 1, 1899
Jan. 1, 1933
Jan. 1,1907
April 1, 1908
Jan. 15,1885
.
S.
Charleston, Office.
do
do
S.
J. N. Y., Jesup, Paton A Co.
Central Pacific RR.
J.
do
do
0.
J. Baltimore A Philadel.
M.
M.
J.
T.
A
A
A
A
A. A
J. A
Q.-J.
Annapolis.
Irreaeemable.
J.
A.
J.
A.
J.
A
A
A
A
A
Baltimore.
Baltimore A Philadel.
Baltimore.
do
J.
A
July 1, 1885
April 1, 1900
July 1, 1900
July 1, 1900
July 1, 1904
July 1, 1904
Jan. 1, 1926
J. A
J. A
J. A
J.
O.
J.
0.
J.
J.
J
J.
J.
London A Baltimore.
Baltimore.
do
do
Baltimore.
Jan.
1, 1926
-(V. 38, p.148. 262, 385, 388, 541, 647; V. 39. p. 22, 72, 109, 128
265, 382, 461, 493, 654; V. 40, p. 28,152, 253, 270, 426.)
Nortk Carolina.—Owns from Goldsboro to Charlotte, N. C., 223 m.
The
property was leased Sept. 11, 1871, to the
Richmond A Danville
Canandaigua.—Owns from Canandaigua to Railroad for 30 years at a rental of $260,000 per year. Dividends of 6
Suspension Bridge, N. Y., and branch, 100 miles. The road is leased in per cent are paid on the stock, of which the State of North Carolina holds
perpetuity to the New York Central & Hudson at $60,000 per annum, $3,000,000, and the dividends thus received by the State are applied to
with right of lessee to commute by payment of a gross sum of $1,000,000. her bonds issued to the North Carolina RR. Earnings in 1883-84, $866,Norfolk & Southern.—Formerly the Elizabeth City & Norfolk. 626; net, $273,323; rental, $260,000^; profit to lessee. $13,323.
Nortk Pacific Coast.—Owns from Saucelito to Moscow Mills, Cal.,
Name changed Feb. 1,1883. Owns from Norfolk, Va.. to Edenton, N
74 miles
branch to San Rafael, 2 miles; leased. San Rafael to San
C., 73 miles. Capital stock, $1,000,000.
Norfolk & Western.—(See Map.)—Owns from Norfolk, Va.,to Pe¬ Quentin, 4 m ; total operated, 80 m. Stock, $2,500,000. Earnings in
1883, $382,960: net, $64,739. Gross in 1882, $358,199 ; net, $67,418.
tersburg, Va., 81 miles; Petersburg, Va.. to Lynchburg, Va. 123 mileis,
Nortk Pennsylvania.—Owns from Philadelphia, Pa., to Bethle¬
Lynchburg, Va., to Bristol, 204 miles; branches—Petersb’g to City Point,
Va., 10 miles; Junction to Saltville, Va., 10 miles; New River Division, hem, Pa., 56 miles; branches—Jenkint’n to Dela. River, 20 miles; Lans75 miles. Total operated, 503 miles. Under construction, Cripple Creek dale to Doylestown, 10 miles; Iron Hill to Shimersville, 2 miles; total,
operated, 88 miles. The Northeast Penn, and the Stony Creek roads are
Branch, 60 miles.
The Atlantic Mississippi & Ohio RR. Co. was a consolidation of Nor¬ operated under contract. In May, 1879, was leased to Phila. A Reading
folk & Petersburg, South Side and the Virginia & Tennessee roads, in all at d@7 p. c. on stock till 1883, and 8 per cent thereafter.—(V. 38, p. 447.
Niagara Bridge &
of which the State of Virginia had an interest for loans made to them.
Default on the Atlantic Mississippi & Ohio consolidated Dopds was made
October 1,1873, and the road was soldin foreclosure Feb. 10, 1881,
and was reorganized as the Norfolk & Western. In January, 1883,
stock was increased bv $4,000,000 to exchange for Shenan¬
Valley RR. stock, and a close working contract was made with
that Co. Of the general mortgage, $5,137,000 is reserved to take up
prior liens. The dividends on preferred stock were suspended in 1883
common
doah
to pay off floating debt.
about $780,635, In 1883
The interest charge on debt in 1883 was
the improvement and extension loan was
authorized for $5,000,000 (with the right to issue $3,000,000 more for
second or double track), of which $2,500,000 was to be issued for con¬
struction and equipment. In Jan., 1884, the convertible debenture bonds
were issued for taking up the scrip of about $525,000 issued for dividend
on
pref. stock.
In Oct., 1884, the adjustment mortgage for $1,500,000
issued to fund floating debt, and is redeemable after 1894 at 110.
The annual report for 1883, in V. 38, p. 385, had the following:
No cash dividends were paid during the year 1883. “ Your directors,
believing that, so long as it was considered advisable to use the surplus
earnings of the company for the purpose of bettering its property or
increasing its facilities for doing business, the preferred shareholders
was
representing the amount which has been
appli d, and which would otherwise be applicable to cash dividends,
at a meeting held Dec. 26, declared a scrip dividend of 3^ per cent,
payable Jan. 15,1884, on the $15,000,000 of preferred shares then out¬
standing. The scrip, when presented to the company in sums of $500,
is exchangeable into convertible debenture bonds, payable in 1894,
hearing six per cent interest, payable semi-annually. The surplus to the
credit of income account amounted Dec. 31, 1883, to $864,193, of which
the sum of $492,410 had been earned during the year 1383. After
charging off this dividend, amounting to $525,000, the balance remain¬
ing to the credit of income account is $339,193.”
entitled to scrip dividends
are
so
V. 39, p. 96.)
Nortkeastern (S. C.)—Owns from Charleston, S. C., to Florence
S. C., 102 mile . Leased jointly, Lane, S. C., to Sumter, S.C., 38 miles
Total operated, 140 miles. This company has earned the interest on its
bonds, with a good surplus. In Nov., 1882, the above consol, mortgage
authorized, of which $1,142,000 to be held to retire debts of prior
was
lien, and $694,000 issued for betterments, equipment, Ac. In 1883-84
gross earnings were|$569,470; net, $164,946; in 1882-3, gross, $618,747;
net, $184,824.
Nortkern California.—Owns from West Oakland to Martinez, 31
miles; Benicia to Suisun, 16 miles; Woodland to Tehama, 101 miles;
leased, San Pablo A Tulare RR.—Martinez to Tracy City, 47 miles;
total operated, 195 miles. Completed in 1878 ana is leased to the
Central Pacific till Jan. 1,1885, at a rental of $47,500 per month for
Northern and San Pablo A T.
In 1882, rental, $590,617; expenses,
$178,577; profit, $412,038. Rental in 1883, $633,000; expenses,
$186,026; net, $446,974. In 1881 8 per cent dividend paid; in 1882,
1%; in 1883, 3*2.
The Northern stock is $6,190,500—authorized,
$8,400,000, and San P. AT. stock, $1,861,000. W. V. Huntington,
President. San Francisco.
Nortkern Central.—Owns from Baltimore, Md., to Sunbury, Pa.,
139 miles; branch—Relay to Green Spring, 9 miles; leased—Shamokin
Valley A Pcttsville RR., 28 miles; Elmira A Williamsport
Railroad, 78
miles; Elmira Jefferson
A Canandaigua RR., 47 miles—315 miles; track of New York Lake Erie A
Western used 7 miles; total operated, 323 miles. This was a consolida¬
tion or several roads in Jan., 1855. The terms of the several leases will
miles; operated at cost—Chemung Railroad, 22
be found under the names of the leased roads.
chased at par the stock of Union Railroad
In February, 1882, pur¬
in Baltimore, $600,600,
practically making that road a pait of the Northern Central property,
subject to its mortgages. The consolidated general mortgage (gold) of
1874 was for $10,000,000 to retire all prior bonds. Of the above bonds
For two months from Jan. 1, 1885, gross earnings were $426,630,
$2,505,000 are dollar or sterling, interest payable in London or Balti
against $438,377 in 1884; net, $176,362, against $171,380.
more, and the balance are dollar bonds, interest in Baltimore.
Under
For 1884 gross earnings were $2,711,104, against $2,812,776 in
the 2d gen. mort. of 1876 $1,000,000 more may be issued as Series C.
1883; net, $1,194,246, against $1,303,203.
The bonds due July 1,1885, may be extended at 4** per cent, or will
The earnings and expenses for three years past were:
be paid off.
OPERATIONS AND FISCAL RESULTS.
The business of the company depends to a considerable extent on
1882.
Operations—
1883.
1881.
The fiscal year ends December 31. and the report for
coal traffic.
Passengers carried
215,904
263,347
307,927 1884 was in the Chronicle, Y. 40, p. 239.
Passenger mileage
13,074,204 14,915,267 16,285,283
For two months from Jan. 1, 1885, gross earnings were $793,265,
Freight (tons) moved
538,102
609,727
797,255 against $808,458 in 1884; net, $304,551, against $256,467 in 1884.
Freight (tons) mileage
120,554.453 133,231,218 155,521,709
Income account for four years was as follows:
$
Earnings—
INCOME ACCOUNT.
452,240
Passenger
1,847,958
Freight
Mail, express, Ac
2,267.289
Total gross earnings
$
Operating Expenses—
Maintenance of way, Ac
Maintenance of equipment
Motive power
Transportation expenses
General
Total (including taxes)
Net earnings
per ct. of operating exp. to
Receipts—
Net
earnings
Other
receipts
Total income
Disbursements—
Interest
Dividends
Total disbursements
1,163,233
1,104,056
earn’s.
51*3
129,542
2,429,740
322.068
314,247
122,077
447,563
500,550
125,137
101,700
402,480
387,558
108,770
1,322,576
1,509,574
1,107,164
1,303,202
54-4
53-7
INCOME ACCOUNT.
1882.
1883.
$
$
1,107,163
1,303,202
1,170,552
1,303,202
63,389
810,792
729,359
600,000
525,000
1,329,359
1,335,792
def. 158,807 *def.32,590
Balance
*
The accumulated surplus Dec. 31,1882, was $371,783;
the deficit for 1883 leaves net surplus December 31,1883,
485,805
2,181,711
145,260
2,812,776
Receipts—
Net earnings
*
Interest A dividr’ds..
Other receipts
Total income......
Disbursements—
Rentals l’s’d lines, Ac*
Interest on debt
Diviaends
Rate of dividend
Miscellaneous
Balt. A Potomac int.
Tot. disbursements
1882.
$
1,656,254
$
1,957,852
203,156
80,812
2,241,820
151,570
109,630
1,917.454
1884.
1883.
1851.
$
$
2,256,525
241,914
4,929
$
2,053,482
256,362
7.467
2,503,368
2,317,311
461,761
935,014
472,093
895,730
350,517
4, /,256
88>y, ?j75
444,272
557,313
881,180
520,000
6
7
8
520.000
8
54,218
154,270
41,130
46,511
37,177
1,809,935
1,956,673
1,999,623
1,963,286
354,025
503,745
285,147
Balance, surplus...
107,519
Includes rent of roads and interest on equipment.
-(V. 38, p. 30, 115, 228, 267, 388, 509, 647, 764; V. 39, p. 96,234,
349, 461, 606, 734; V. 40, p. 93, 120,J23», 241, 253, 270, 394.)
Nortkern. New Hampsklre.—Owns from Concord. N. H., to West
Lebanon, N. H., 70 miles; branch, Franklin, N. H., to Bristol, N. H., 13
miles; total, 83 miles. In 1882-3. gross earnings were $583,627; net,
*
$167,550. In 1883-4,
ties are a guaranty of
deducting which the Northern
$339,194. p. 71.; V. 40. p. 152)
ross,
$571,729; net, $171,602.
The only liabili-
>00,000 Concord A Claremont; Railroad
R.
owns
$200,500.
bonds, of
(Y. 38, p. 705, 731: V. 39
Subscribers will confer a great
•
For
STOCKS
RAILROAD
66
'
explanation of column headings, Ac., see notes
on first page of tables.
•
....
83
26
21
21
2,365
OfiMiiTinn stock
205
Mortgage and land grant bonds, Missouri Div....
209
Mortgage and land gr. bonds, Pend d’Oreille Div.
Cons. 1st M. Id. g., gold, $25,000 p. m., cp. or reg. 1,995
All
do
2d mort., go d, coupon and registered
Dividend certificates
....
Northern. Pac. Terminal Co.—1st mort., gold
Northwestern Ohio—Stock
Norwich <£ Worcester—Stock
New
bonds, coupon
Ogdensburg <£• Lake Champlain—Stock
Sinking fund bonds
Mortgage oonds (redeemable July, 1890)
Consolidated mortgage (for $3,500,000)
Income bonds, not cumulative
Ohio Central— 1st mortgage gold
(non-cumulative)
Terminal mortgage bonds
1st mort., Mineral Div
1st mort., Riv. Div., gold, coup, or reg
do
gold, incomes
Car trust certificates', No. 1
do
No. 2
do
No. 3
Ohio <£ Mississippi—Stock, common
~
stock
*79
66
66
122
....
118
118
....
200
200
200
26
....
•
•
.
.
•
„.
1878
1869
....
1879
1879
188L
1883
1883
1883
....
1877
....
1870
1877
1880
1880
1880
1880
1880
1881
1882
1882
1880
1882
616
(7 p. c. yearly, cumulative)
Outstanding
Rate per
Cent.
When
Payable
6
M. A N.
Where
pal, When Due.
Payable, and by stocks—Last
Whom.
Dividend.
43,403,000
18,857,000
l,000Ac
4,04.0,821
....
1,000
3,000,000
2,000,000
2,604,400
400,000
3,077,500
ioo
1,000
100
1,000
1,000
380,000
600,000
1,705,150
999,750
500 Ac.
100 Ac.
1,000
a,ooo
1,000
1,000
1,000
1,000
3,000,000
3,000,000
600.000
300,000
5,316,000
Too
100
4.030.000
to Wallula Junction, Oregon, 1,651 miles; Duluth to Northern Pacific
Junction, 23 miles; Northern Pacific Junction to Superior City, 23*5
miles; Superior City to east end of track, 26 5 miles; Portland to Colum¬
bia River, opposite Kalama, 36 miles; Kalama to Tacoma, 105 miles;
Tacoma to South Prairie, 25 miles; Columbia River up Yakima Valley,
25 miles; Payallup Junction to Stuck Junction, 7 miles; South Prairie
to Carbonado and Wilkesou aud Coal Fields. 9 miles; total owned, 1,931
miles. Leased—Brainerd to Minneapolis, 127 miles; Minneapolis to St.
Paul, 11 miles: Little Falls A Dakota RR.. 88 miles; Northern Pacific Fer¬
gus & Black Hills RR.,117 miles; Fargo & Southwestern RR.,87 miles; San
Coop. A Turtle Mount RR..36 miles; Jamestown A Northern RR„ 64 miles;
Sykestown Branch RR., 13 miles; Rocky Mount RR. of Montana, 52 miles;
HelenaA Jefferson Co. RR., 20 miles; total leased, 616 miles; total owned
and leased, 2,547 miles. The road from Thompson Junction, Minn., to
Duluth is owned Jointly with the St. Paul & Duluth. Grading 60 miles
of the Cascade Division to Yakima in progress.
Organization.—This company was chartered by act of Congress July
2,1864, to build from Lake Superior to Puget Sound and Portland, Or.
grant was 20 sections per mile in States and 40 sections in
Territories. The road was opened 450 miles west from Duluth—to Bis¬
marck, on the Missouri River-in 1873. The company defaulted Jan.,
1874, and the road was foreclosed August 12,1875, and reorganized by
the bondholders’ committee Sept. 29,1875. To the bondholders new
The land
preferred stock was issued at the rate of $1,400 for each $1,000 bond
and overdue interest.
Stocks and Bonds.—The preferred stock was issued to old first mort¬
gage (7-30) bondholders for their bonds aud overdue interest, and has a
preference for 8 per cent in each year if earned, but is not cumulative.
The common stock then takes 8 per cent, and after that both share alike.
The preferred stock claim on net income is only subject to expendit ires
for new equipment.
The preferred stock is received in payment
for the company’s lands east of the Missouri River at par. These lands
unsold June 30, 1884, were about 4,079,955 acres, and the proceeds of
the lands when sold for money or on time also go to the retirement of
preferred stock.
A large interest in the stock. (151,300 shares of pref. and 162,792 of
com.), on June 30, ’83, was held by the “ Ore- A Trans-Continental Co.’’
In Sept., 1882, a dividend, in certificates of ll%o per cent, amounting
to $4,667,490, was declared on the pref. stock payable Jan. 15, 1883.
Prices of preferred stock since 1879 have been: In 1880, 3938'5>671s;
In 1881, 6418®881s; in 1882, 663*510038; in 1883,49%@9058; in 1884,
S7j4'S’57b8; in 1885, to April 18, 36%@44. Common stock: In 1880,
20-3)36; in 1881, 32%@51; in 1882. 28%5543s; in 1883, 23*8^5318; in
1884, 14 527; in 1885, to April 18, 15519%.
line; and
divisional
'
5
6
2
8
6
6
3 A
6
7
6
6
6
4,000.000
320,000
600,000
1,200*000
20,000,000
Dividends are paid as earned on the rental.
receipts in 1883-4, $296,410; net, $80,009 ; interest aud rentals,
$35,105; dividends, $35,000; surplus, $9,894. (V. 39, p. 48.)
Northern Pacific.—(See Map.)—Line of Road—On June 30, 1884
the mileage was made up as follows: Northern Pacific Junction, Wis.,
6
6 g.
6 g.
6
6 g.
3,240,000
1,000Ac
Gross
London A Baltimore.
N.
....
....
by either party on notice.
g.
39,116,922 lliiocert
49,000,000
6
M. A N
2,200,000
100 Ac.
It is understood the contract is terminable
The consol, first mortgage bonds are a first lien on the main
on all the lands of the
company except those subject to the two
$600,000
3,068,400 7 (extra.) i. A D. Bost. .Conc’d or Leban’n
2
J. A J.
New York Office.
1,000,000
6
.J. A J. J. City, Hudson Co. B’k.
168,000
7
M. A S.
do
do
200,000
100
100
100 Ac.
100 Ac.
100
100
,
earnings.
Amount
$500Ac.
Northern of New Jersey.—Owns from Bergen, N. J., to Sparhill, N. Y 21 miles; leased Sparkill to Nyack, 5 miles; total oper¬
ated, 26 miles. This road was opened October 1, 1859. By contract
of April, 1869, it is operated by New York Lake Erie A Western at 35 per
cent of its gross
Bonds—Princi¬
INTEREST OR DIVIDENDS.
Miles
Date- Size, or
Par
of
of
Road. Bonds Value.
NorthernPacific—Pref. stock(8 p. c., not curn’tive). 2,365
Preferred
[Vol. XL.
—
Union Railroai, 2d mortgage
Northern, N. if.—Stock
Northern of New Jersey—Stock
1st mortgage, extended
2d mortgage
Income bonds
BONDS.
favor by giving immediate notice of any error discovered in these Tables.
DESCRIPTION.
Northern Central -(Continued)
AND
6
g.
Y., Mills Building.
N. Y., Mills
M. & S.
J. A J
A. A 0.
do
do
do
do
Jan’y.
Is-
10
10
do
do
do
do
Jan. 15, 1885
July. 1888
March, 1889
Jan. 15, 1883
Dec. 1, 1933
May 1, 1919
Sept. 1, 1919
Jan. 1, 1921
Dec. 1, 1933
Jan. 1, 1888
J.
&
J.
N.Y., Winslow, L. A Co. Jau. 1, 1933
J.
M.
J.
M.
J.
A.
A.
J.
A
J.
S.
J.
S.
J.
O.
O.
J.
Boston, 2d National Bk. Jan. 10, 1885
Boston, N. E. Trust Co. March 1, 1897
Boston, Office.
July 10 ,1876
do
Mar., 1890
A
A
A
A
A
A
A
J.
A
J.
J.
A
J.
'
do
do
do
1897
Toledo, 0., Receiver.
....
g.
g.
Building.
1900
May 1, 1885
M. A S.
do
do
do
do
do
do
do
do
do
do
;^ _adoQ
\
April 1, 1920
April, 1920
Jan. 1, 1920
Jau. 1, 1920
July 1, 1920
July 1, 1921
March, 1922
Mar. 1,1922
$40,000 p. yr.
10 p. c. yearly.
10 p. c. yearly
;
3l>
M. A S.
N. Y., 31 Pine Street.
Mar. 1,
1875
Operations and Financial Condition.—The fiscal year ends June
30. The annual report for 1883-84 was published in V. 39, p 322, tb
which reference should be made for a statement of the progress of the
company’s work during that year and its general condition. To pay the
doating debt and complete the work, the directors issued the second
mortgage bonds October, 1883.
Gross earnings from July 1 to Mar h 1, eight months, in 1884-5, were
$7,751,265, against $7,752,176 in 1383-4; net. $3,640.5-6. against
$3,176,736. 8ee statement for the six months, including earnings, land
sales, Ac., analyzed, in V. 40, p. 161, 183.
The annual report in Chronicle, V. 39, p. 322, had the following state
ment of earnings :
1881-82..
1880-81.
Earnings—
Passenger
Freight.
$
668,621
2,207,2.*9
118,599
Mail, express, Ac
Total
”
Operat. expenses.
Net earnings
P.c.ofop. ex. to earn’s
The income account
1382-83.
1883-84.
$
$
1,302,261
3 909,423
218,621
$
2,099,746
5,409,031
346,632
4.237,259
7>6%367
2.994,519
5,430,395
7.855,459
12,603,575
2,025,389
3,572,339
5.336,930
7,590,155
-
500,949
$969,139 $1,857,466 $2,518,529 $5,013,420
67 64
60 22
6i-30
67-93
for jrear ending June 30, 1884, was as follows:
$5,504,693
Total net income.
Disbu rse m c nts—
Interest on funded debt
Rentals
Contributions to sinking fund
Balance general interest account
$3,535,038
412,401
:
J
Opening celebration
3.931
318,284
179,381
$4,449,035
Total
Balance, surplus.....
$1,055,658
—(V. 38, p. 61, 88, 115, 203, 332. 509, 607, 620, 647, 679, 707, 731, 764;
V. 39, p. 3. 11, 22, 48, 62, 182, 227, 297, 309, 32 2, 324, 338, 3 49, 393,
410, 493, 617, 654, 727; V. 40, p. 28, 152,164, 183, 281, 304, 33% 427.)
Northern Pacific Terminal Co.—This company owns terminal
facilities which are leased for fifty years to the Northern Pacific RR.,
the Oregon Railway & Navigation Co. anl the Oregon & California RR.,
with a guaranteed rental sufficient to pay interest, sinking fund and
taxes.
The sinking fund begins in 1893 and is to be sufficient to retire
the bonds by maturity. The stock of $3,000,000 is owned by said three
companies (40 per cent by Oregon Railway & Navigation Co., 40 per
cent by Northern Pacific and 20 per cent by Oregon & California RR.),
and held by Central Trust Co. of New York, to Yje delivered after pay¬
ments to the sinking fund which is to cancel the bonds.
Northwestern Ohio.—Owns from Toledo Junction to Toledo, O.,
80 miles, and leases 7 miles, from Mansfield to Toledo Junction. This
was a
consolidation of the Toledo Tiffin A Eastern, the Mansfield Cold-
Michigan and the Toledo & Woodville roads. Leased to
Pennsylvania Company at cost of operating. In 1883 gross earnings
$282,304; deficit; $49,749. In 1884 gross, $266,278; net, $26,108.
water & Lake
mortgages and those lands east of the Missouri River which are subject to
the preferred stock. The issue of bonds is limited to $25,000 per mile.
The proceeds of land sales can be applied to the payment of interest on
bonds, instead of principal, if the earnings of the road are insufficient.
Norwich Sc Worcester.—Owns from Norwich, Conn., to Wor¬
cester, Mass., 59 miles; branch: Norwich to Allyn’s Point, 7 miles;
Central Trust Co. of N. Y. is trustee. The bonds are received in pay¬
ment for lands at 110 aud interest, and proceeds of land sold must be
land Railroad. In February, 1885, it was voted to
to 8 per cent. In the fiscal year endiug Sept. 30.1884,
the gross receipts
total issue of the Missouri Division and Pend d’Oreille Division bonds
was
$6,480,300, against which are reserved a like amount of the
p.
total, 66 miles.
ODerated under temporary lease by N. \r. A New Eng¬
reduce the rental
applied to redemption of these bonds at a price not exceeding 110 and were $761,900; net, $297,ol3; payments for rentals, $38,175; interest,
interest. Sinking fund of one per cent per annum begins in 1886. The $24,678; dividends (10 per cent), $259,780; deficit, $25,119. (Vol, 40,
Horthern Pacific first mortgage bonds.
In October, 1883, the second mortgage was authorized for $20,000,000, of which $15,000,000 were taken by a syndicate at about 82%> net
to the company.
Lands.—The land grant of the company was 12,800 acres per mile in
States and 25,600 acres per mile in territories, and the lands earned by
construction to June 30, 1884, were estimated to be about 41,600,000
acres, of which about 36,500,000 remained unsold aud were approxi¬
241.)'
.
Ogdensburg Sc Lake Champlain.—Owns from Rouse’s Point,
N. Y., to Ogdensburg, N. Y., aud branch to Maquam, Vt., 130 miles.
Gross earnings 1883-4, $595,320; net. $212,202. In 1882-83 gross earn¬
ings were $642,196; net,$191,438. (V. 38, p. 739; V. 39, p. 348; V. 40,
p. 61,183, 270, 364.)
Ohio Central.—The road extends from Toledo, Ohio, to the Ohio
River at a place opposite to Point Pleasant, 257 miles (including in this
16 miles of track used under rental) and from Point P leasant to Charles¬
mately classified as follows : Agriculture and timber lands, 12.000,000 ton, West Va., 58 miles, with branches from Hadley Junction, Ohio, to
acres; grazing lands. 13,000,000 acres; mountain lands, 11,500,000
Alum Creek, 24 miles; Mineral Division, South Shawnee to Corning, 20
acres.
The lands east of Bismarck (Minn, and Dak. Divs.) are pledged to miles; and Switch to Buckingham, 11 miles; total line, 375 miles.
the preferred stock, and that stock is received in payment therefor. The
The stock is $22,000,000—par $100.
On September 1st, 1883, default was made on the interest of the River
general mortgage bonds cover all the other lands, the divisional mort¬
gages having prior liens on their respective divisions. The following Div. mort. bonds, and January 1 default on the 1st mort, bonds, and
shows in detail the sales of land for the fiscal years ending June 30, receivers were appointed. Decree of sale was made in Dec., 1884, and
1883 and 1884:
the main line, Toledo to Corning, and Columbus Br., were sold April
Yr. end’g June 30,’83.
-Yr. end’g June 30-,’84.15,1885. The proposed plan of reorganization embraces the issue of
Acres.
Divisions.
Acres.
Amount.
Amount.
$5,000,000 5 per cent first mortgage bonds, $3,750,000 pref. stock, and
Minnesota &Dakota417,388
221,912
$1,700,517
$1,095,890 not over $7,250,000 of common stock—see V. 39. p. 461. Plan for the
Missouri
324,420
46,483
110,033
148,058 River Division was mentioned in V. 40, p. 356, embracing the proposed
Yellowstone
24,625
6,567
issue of a new 1st mortgage at $’.0,000 per mile, 1st pref. stock of
Montana and Pacific 60,885
278,682
107,355
467,337 $6,000,000, 2d pref., $4,0' 0,000. common. $2,200,000.
Pend d’Oreille
733,614
Net earnings in 1882-3, $349,785.
166,360
102,366
472,756
In 1883-4, gross earnings, $1,098,600; net, 754,586. (V. 38, p. 30, 61, 114, 350; V. 39, p. 297, 435,
Total
761,236
$3,061,860
478,116
$2,184,041 461, 493, 581, 6S4, 707; V. 40, p. 183, 208, 243,356 481.)
m
ft
s
o
ft
<E>
M
o
o
H
CQ
ft
◄
O
ft
d
<1
ft
«
pu
<1
Subscribers will confer a great favor
explanation of column headings, &c., see
on
first page
of tables.
Ohio <& Mississippi—( Continued)—
1st general mortgage (for $16,000,000)
1st consolidated mort. ($3,445,000 are s.
notes
0328 118-234
Date
of
f.)
sinking fund mortgage
Ohio tortiiherv
1 sf. mort- ($15,000 pp.r mi Ip.)
2d mort., income ($15,000 per mile)
1
Old Colony—Stock
Bonds (not mortgage) coupon and registered
do
do
Bonds
do
do
do
Bonds
do
Bonds
do
do
do
Bonds
do
do
do
Bonds for Framingham & Lowell bonds
Bonds of 1884 ....".
Bost. Clin. F.& N. B., mortgage bonds 1869-70...
624
393
393
393
222
132
132
468
^
^
.
43
58
bonds
bonds
mortgage bonds
Oregon <£ California— 1st M., gold
2d mortgage, $10,000 per mile
($20,000 p.m.)
..
Oregon Pacific—1st mort., land grant, gold
Oregon Railway dc Navigation—Stock
Mortgage bonds, gold
Scrip certificates
Debenture gold loan, coupon
OregonShortL — lst,gld.,int.gu.byU.P.($25,000p.mj
Oregondt Trans-Continental—St’ck(for $50,000,000)
Trust bonds, gold (IstM. collateral) $20,000 p.m..
Oswego dk Rome—1st mortgage guaranteed
Income mortgage bonds
Convertible bonds
Ohio Sc Mississippi.—Owns
Louis, Ill.. 338 miles; Louisville
120
451
451
611
.
.
.
.
1882
$1,000
$2,990,000
1868
1868
1871
1874
1881
1881
1,000
6,502,000
112,000
3,829,000
2,009,000
2,100,000
2,100,000
10,442,800
1,692,000
610
....
477
28*3
....
£200
$1,000
1,000
1,000
1,000
100
1874
1,000
1875
1,000
1876
1,000
1877
1,000
1882
1,000
1884
1,000
1884
1,000
’69-’70 500 &c.
1874
1,000
1875
1,000
1880
1,000
1881
1,000
1883
1,000
1.000
1880
100
1879
1,000
.
'
Par
.
.
„
1884
1882
....
1882
1805
1866
1866
1,000
1,000
100
1,000
1,000
1,000
....
from Cincinnati, Ohio, to East St,
branch. North Vernon to Jefferson¬
ville, Ind., 53 miles; total Ohio & Miss, line, 391 miles; the Springfield
Division, Beardstown to Shawneetown, Ill., 225 miles; total operated,
•16 miles. The Eastern and Western divisions were sold in foreclosure
and the Ohio & Mississippi Co. formed by consolidation Nov. 21,1867.
On Nov. 17, 1876. the company was placed in the hands of a receiver.
The receiver was discharged in April, 1884. In December, 1884, the
conflicting interests in the directory were harmonized, and a lease was
reported to have been negotiated with the Balt. <fe Ohio RR. Co. on the
basis stated in V. 39, p. 682.
The new general mortgage for
the plan of reorganization, by
to exchange for old bonds as
authorized under
which $12,784,000 was reserved
they mature; $2,216,000 used in
paying overdue coupons and all other claims ; and $999,695 expended
for new equipment and terminal facilities. There are yet $97,000 of old
first mort. 7s (reduced to 6s). Western Div., outstanding. The terms of
preference of the pret. stock state that the holder thereof shall be entitled
$16,000,000 is
to receive from net earnings of the company 7 per cent per annum,
and to have such interest paid in full for each and every year before any
payment of dividend upon the common stock.
The annual election is held in October. No
report for 1883 was issued. For four years the income was as follows ;
Miles.
Years.
Gross Earnings. Net Earnings.
615
$4,376,310
$1,256,709
1881
616
4,074,407
959,053
616
4,225,499
1,061,663
616
•
4,250,150
980.321
-(V. 38, p. 88, 115, 262, 295, 350, 379) 456, 480; V. 39, p. 265, 410,
The year
Amount
Outstanding
....
....
Size, or
Value.
Road. Bonds
Spring. Div. (Sp.&Ill. SE.) IstM. (for $3,000,000).
do
do
do
discovered in
by giving immediate notice of any error
Miles
of
Consolidated mortgage, sterling
2d consolidated
fVou XL.
t^iese
Tables.
Bonds—Prinoi
INTEREST OR DIVIDENDS.
DESCRIPTION.
For
BONDS.
STOCKS AND
RAILROAD
68
ends Dec. 31.
435, 682. 707.)
Ohtlo Southern.—The road will
Rate per
Cent.
500,000
1,100,000
2,000,000
200.000
127,000
500,000
491,500
400,000
100,000
1,910,500
9,020,000
2,610,000
25,000 p.m.
24,000,000
5.719,000
1,200,000
5,000,000
14,495,000
40,000,000
9,553,000
350,000
200,000
107,000
.
J.
J.
J.
A.
M.
J.
J.
J.
M.
J.
M.
F.
J.
5
7
6 g.
7
7
6
6
3*2
7
6
6
6
4*3
4*3
Where
When
&
&
&
&
&
&
&
&
&
&
&
&
&
D.
J.
J.
O.
&
&
&
&
&
&
&
J.
M.
A.
F.
6 g8
7 g.
6
1*2
&
&
&
&
June 1, 1932
Jan. 1, 1898
Jan. 1, 1898
Y, 31 Pine St.
do
do
London.
N. Y.. 31 Pine St.
April, 1911
S.
do
D.
S.
A.
D.
do
do
do
do
do
Boston, Office.
Nov. 1, 1905
June 1, 1921
June 1, 1921
Jan. 1, 1885
March 1,1894
June 1.1895
Sept. 1, 1896
Aug. 1. 1897
1904
1889 & ’90
_
do
do
J.
do
do
D.
do
do
A.
J. Boston, N. E. Trust Co.
J. N.Y., London & Frankf.
do
do
O.
O. New York and London.
July 1,
1,
1,
July l,
Feb.
Jan.
do
do
do
do
New York or Boston.
O.
A. N. Y., 195 Broadway.
J.
1, 1900
June, 1885
Oct.
July 1, 1909
1885-6
N.
M. & N. N.Y.,Farmers’L.& T.Co.
M. & N. N.Y., Farmers’ L.&T.Co.
F. & A. N. Y., Central Trust Co....
1894
1885
1910
1921
April 1, 1933
N.Y., Farm. L. & Tr. Co.
Q.-J.
6 g.
7
7
7
Dec. 1, 1897
1904
Bost., Old Colony Office.
do
do
Q.-F.
1*2
N.
Springfield, Ill.,1st N. B.
N.Y., Corbin Bank’g Co.
....
J.
J.
F.
J.
J.
A.
A.
Dividend.
Whom.
N.
D.
D.
J.
....
4
7
7
6
5
6 g.
7
6 g.
Stocks—Last
Payable, and by
Payable
-
pal,When Due.
April 1,1887
1, 1922
Feb.
Oct.
15, 1883
May 1, 1922
May, 1915
J eb., 1891
2866
,
The company pursued the policy of increasing its capital stock to raise
money for improvements, and in a few years the amount was raised
from $6,000,000 to $24,000,000.
The managers purchased in February and March, 1881, a large
interest in the common and preferred stock of the Northern Pacific,
and the control of this company and of Northern Pacific was then
transferred to the Oregon <fe Trans-Continental.
The annual report for the year ending June 30, 1884, was in the
Chronicle, V. 39, p. 460. The income account was as follows:
1883-84.
1880-81.
1881-82.
1882-83.
$
$
$
$
Net earnings
Other receipts
1,666,861
241,499
2,335,439
180,725
2,394,046
2,393,450
95,167
301,444
Total income
TUsburhements—
Reutals paid
Interest on debt....
Dividends
Rate of dividend...
Mis. and. sink fund
1,908 360
2,516,164
2,489,213
2,694,894
112,760
145.429
399,733
638,000
444,743
1,296.000
(8)
13,601
444,270
354,180
440,160
Receipts—
(8)
67,173
1,584,000
(9)
79,230
1,800,000
(7*2)
79,855
2,674,195
2,252,929
Total disb’ments.. 1,104.906
1,867,103
20,699
226,284
649,061
803,454
Balance, surplus
—(V. 38, p. 61, 178, 247, 359, 379, 572, 585, 73 L : V. 39, p. 11,22, 48,
62, 209, 227, 382, 402, 450, 460, 482; V. 40, p. 152, 270, 356 481.)
...
,
Oregon Short Line.—Road from Granger on the
Union Pacific
(156 miles east of Ogden) to a junction with the railroad of the Oregon
Railway & Navigation Co., at Huntington. Oregon, 540 miles, with Wood
River branch to Ketchum, 70 miles. Total 609 miles. The connec¬
tion through was made in November, 1884. The contract between the
Oregon system and the Northern and Union Pacific for future traffic
is reported to be advantageous to the Union Pacific, since the busi¬
ness of Oregon is to be divided between the Northern and Union Pa¬
cific in proportion to the traffic they deliver to the Oregon road. Built
under Union Pacific control, and interest on the bonds guaranteed. One
$1,000 bond and $500 in stock sold to Union Pacific stockholders for
$1,000 cash. The stock is $12,372,000. Union Pacific owns $6,314,000
stock and $2,195,000 bonds. Gross earnings in 1883, $917,972; net,
$403.603; interest and taxes. $509,750 ; deficit, $106,106. Gross earn¬
ings in 1884, $1,059,200; net $403,643; iutcrest and taxes, $809,547;
deficit, $446,600. (V. 38, p, 62, 447, 572; V. 39, p. 209, 265, 349, 482.)
extend from Springfield, Ohio,
Length of road completed and in
operation Dec., 1884: Springfield, Ohio, to Wellston, with extensions
and branches, 132 miles.
Stock (par $100), $3,840,000. Receipts,
1882 $359,283; net, $90,687; other
sources. $29,812; payments,
$120,084. Gross in 1883, $364,091; net, $117,106; rental, $1,014;
Interest on debt, $115,200; surplus for year, $599. Alfred Sully, Pres.
Old Colony (Mass,)—Owns from Boston to Provlncetown, Mass.,
120 miles and lines to Kingston, Plymouth, Somerset Junction, New
Bedford, Lowell and Fitchburg, Mass., and to Newport, R. I.; total,
369 miles; numerous branches, 84 miles in all; leased—Fall River
Railroad, 12 miles; Dorchester & Milton Railroad, 3 miles; total
length of all lines, 468 miles. Fall River Railroad was leased April
1, 1882, for 99 years. In March, 1883, consolidation with the Boston
Oregon Sc Trans-Continental.—Companv organized under the
Clinton Fitohburg & New Bedford was made and an increase of stock to laws or Oregon on June 27, 1881, and received from the “Villard Pool”
$12,000,000 was voted. In May, 1884, the Lowell & Framingham was an assignment of the stock of the Northern Pacific Railroad purchased
absorbed on the terms given in V. 38, p. 540, and the 4*a per cent bonds by it. The company’s object was to hold the stocks of the Oregon Rail
of 1884 were issued. Operations for three years euding Sept. 30:
way & Navigation Co. and the Northern Pacific, and to construct con¬
Years.
Miles. Pass.Mile. Fr’ght Mile. Gr’s Earn. Net Earn. D.d.o. necting roads. On November 1, 1884, this company held $14,529,200 O. R. & N. stock; $9,075,000 Northern Pacific pref.. and $11,211,468 100,460,413 58,349,479 $4,126,258 $1,305,449 6*2 900 Northern Pacific common. In Jan., 1884, to provide for the set¬
468 104.989,238 57,915,789 4,249,179
1,228.441 7
tlement of the floating debt, the company announced a loan of $8,000,470116,745,901 57,899,872 4,191,872 1,296,503 7
000 for one year on the pledge of 91.500 shares of Northern Pacific pre¬
-(V. 38, p. 480, 540, 595 ; V. 39, p. 520.)
ferred, 91,500 shares of Northern Paciflo common, and 91,500 shares
to some
point on the Ohio River.
Oregon Ry. & Nav. Co. stocks. At the end of the year a cash commis¬
Oregon Sc California.—From Portland, Or., to Ashland, 341 sion
of 5 per cent was to be allowed. For the loan 183 notes of equal
miles; Albany Junction to Lebanon, 12 miles; West Side Division, Port¬ amounts were issued, and the holders of these notes were granted a
land to Corvallis, 97 miles. Total finished, 451 miles; to be completed
to a junction with Central Pacific at the California State line, the gap privilege of buying 45,750 shares of each of the stocks named at 25 for
Northern Pacific common, 50 for the preferred and 100 for Oregon
to be finished on this road being 28 miles, and on Cen. Pacific 97 miles.
to be applied in liquidation of the loan.
The present Oregon & California RR. is a reorganization of the original Navigation, the proceeds
(The option was exercised prior to Nov. 1,1884, on $1,275,000 North¬
Oregon & California, which company was in default after 1873. The ern Pacific preferred.) The status of the company was given in the
land grant is about 4,000,000 acres; bonds are receivable for lands.
President’s circular of Nov. 11, 1884 (V. 39, p. 545). showing a floating
Preferred stock is $12,000,000; common $7,000,000.
debt of $10,635,500, and stockholders were then asked to subscribe for
On Dec. 22,1884, an important meeting of stockholders was held in
2,000 one year notes of $5,000 each, making $10 000,000, each note to
Portland, Oregon, to act on a proposition to lease the road to Central be secured by 70 shares of O. R. & N. stock, 40 N. Pacific pref. and 40
Pacific, and other matters (see V. 39, p. 654), and the result was that N. Pacific common. The option was also given to bujr 35 of said shares
all the propositions were substantially adopted.
of O. R. & N. Co. at $100, 20 of N. P. pref. at 50 and 20 of N. P. com¬
In March, 1883, a lease was made with the Oregon Trans-Continental
mon at 25, at any time before Nov. 1,1885.
This loan was to take up
Co., and the O. & C. RR. leased to the O. T. Co. The latter became embar¬ that made in
January, 1884, and it was afterward stated that all of it
rassed and the lease was abrogated on the terms stated in V. 39, p. 182.
was placed except about $2,500,000.
In January, 1885, default was made and receiver was appointed.
Total authorized capital is $50,000,000.
The bonds are secured by
Foreclosure suit under the mortgages was begun by the Fanners’ Loan
trust of first mortgage bonds on new branch railroads, at
& Trust Co., trustee. For year ending March 31, 1883, gross receipts deposit in
per mile; also secured by traffic contracts with the Northern
were $1,016,496; net, $288,117; land sales, $47,359.
(V. 38. p. 196, $20,000
Pacific RR. Co. guaranteeing (after lapse of two years) a minimum net
323, 7«4; V. 39, p. 128, 182, 554, 654, 734; V. 40, p. 61, 92, 120, 152, annual income of $1,400 per mile, being equal to 6 percent per an¬
183, 454, 481.)
num on $20,000 per mile of bonded indebtedness, and a sinking fund
Oregon Pacific.—Road in progress and
of
70 miles, from Corvallis to charge of
Yaquina, on Yaquina Bay, completed in October, 1884. Land grant,
over 900,000 acres, and covered by first mortgage. Stock is $30,000 per
mile. T. E. Hogg, President, Corva lis. Oregon. N. Y. Office, 45 William
Street. (Y. 38, p. 456; Y. 39, p. 297, 707; V. 40, p. 183.)
■Oregon Railway Sc Navigation.—Dec. 1, 1884. railroads oper¬
ated were as follows: Portland to Riparia, 301 miles; Bolles Juuction to
DaytOD, 13 miles; Walla Walla to Blue Mountain, 20 miles;
Pendleton to Centreville, 17
miles; Palouse Junction to Colfax
89 miles; Umatilla to Huntington, 217 miles; total,
656 miles.
Ocean line between San Francisco and Portland, 670 miles; Puget
Sound lines, 275 in.; River lines, 363 in.; total of water lines, 1,308 miles.
one per
cent.
In March, 1883, this company leased the Ore¬
mentioned in V. 36, p. 340, but
& California road on the terms
in 1884 the lease was annulled.
gon
Quarterly dividends began in Jan., 1883, at 1*2 per cent, and ceased
See article in V. 37, p. 33L- vV. 38, p. 30, 60, 61,
480, 510. 541, 731. 764; V. 39, p. 11, 48, 128, 157,
209, 545, 654, 734; V. 40, p. 61, 301, 338).
after October, 1883.
148, 285 ; V. 38, p.
from Richland, N. Y., to Oswego, N.
It is leased to the Rome Water,
on its stock ($300,000) and 7 per
pref. stock being represented by convertible boiids>
Oswego Sc Rome.—Owns
29 miles. Road opened Jan. 1,1866.
town & Ogdensburg RR. at 8 per cent
cent on guar,
bonds,
$62,100 of bonds due 1870 are yet
outstanding.
Immediate notice of any error discovered In these Tables.
Subscribers will confer a great favor by giving
I
DESCRIPTION.
or
explanation of column headings, &c., see
on first page of tables.
notes
35
Syracuse—Stock, 9 per cent guar
35
Mortgage bonds
Consol, mortgage (guar. D. L. & W.)
Construction mort., guar, (for $1,000,000)...
123
Owensboro dk Nashville—1st mortgage, gold
65
Painesmlle dk Youngstown—1st mortgage
65
2d mortgage, income, convertible
48
Panamar-Stock
48
General mortgage, sterling, (£777,800)
48
Sinking fund subsidy, gold
15
Paterson dk Hudson—Stock
2,036
Pennsylvania—Stock
Gen. M., Pb. to Pitts., coup., J. & J.; reg., A. & O.
State lien (pay ’bie m annual inst’lm’ts of $460,000)
Consol. M., coup. J. & D., & reg. Q.—M. is. f. 1 p. c.)
....
....
....
Consol, mortgage, gold
Bonds, reg. (P.W. & B. stock deposited as collat’l)
Collateral trust loan (coup., but may be reg.)
Car Trust certs, (in series payable iioth yearly)..
571
....
•
•
••
Navy Yard bonds reg. (extended 20 years in ’81)
3,232
Pennsylvania Company—Stock
Reg. bonds, secured by P. Ft.W.& C. special stock
Bonds, gold, secured by pledge and guarantee....
105
Pennsylvania dk New York— 1st mort., guar
105
1st mortgage, guaranteed
•
Pennsylvania Schuylkill Volley—Stock
Bonds
Peoria dk Bureau Valley—Stock
Peoria Decatur
Evansville—Stock
1st mort., gold (Pekin to Mattoon)
Income bonds,
not accumulative
do
1st mortgage
Income bonds
(Evansv. Div.)
do
not cumulative....
Oswego Sc Syracuse.—Owns
•
•
$50
1864
1876
1883
1881
1879
1879
....
1867
1880
....
....
1870
.
.
.
.
....
....
50
1,000
...
1883
1,000
....
1877
1881
1866
1866
....
54
47
254
1,000
1883
1,000
50
1,000
1,000
1,000
50
1,000
100
....
....
1880
1880
1880
1880
1,000
1,000
1,000
1,000
from Oswego, N. Y., to Syracuse
& West. RR. Co.
N. Y., 35 miles. .Leased in 1868 to the Delaware Lack.
for 9 per cent per year on stock and interest on bonds.
Owensboro Sc Nashville.—Owns from Owensboro,
Kv., to Adair
vffie. Ky., 84 miles.
Controlled in 1879 by the Nashville Chattanooga
A St. Louis, and now operated by Louis. & Nash. RR., which owns a
majority of the stock. Gross earnings for 1882-83, $56,335; net, $6,415.
Gross in 1883-4, $101,138 ; net, $15,832. Stock is $1,156,517.
Palnesvtlle Sc Youngstown.—Owns from Fairport. Ohio, to
Youngstown, Ohio, 65 miles. The old company made default, and
road was sold in foreclosure June 2, 1879. Under the reorganization
bonds are issued as above, and the stock is $288,000. The income bonds
have votes, and are convertible into stock. The road went into the pos
session of new managers in 1881. On Jan. 1,1882, defaulted on 1st
mortgage coupons, and R. K. Paige appointed receiver. Foreclosure
proceedings pending.
Panama.—Owns from Aspinwall to Panama, 48 miles.
Opened
through January 28, 1855.
This road had a practical monopoly
of the California business till the opening of the Pacific Railroads in
1869. Of the general mortgage bonds $900,000 fall due in nine halfyearly payments beginning April, 1885, and balance in October,
The $2,804,000 subsidy bonds are secured by a pledge of the
1897.
sum of $225,000 annual subsidy payable to the U. 8. of Colombia by
the company. In June, 1881, most of the stock was sold to paitieb
interested in the De Lessens Panama Canal Co. The report for 1884 was
in Chronicle of April 25,1885, showing net income of $1,751,399, and
a surplus, after paying 16 per cent dividends, of $55,822.
The accumu
lated surplus to Dec. 31, 1884, was $1,076,557. (V. 38, p. 423.)
Paterson Sc Hudson.—Owns from Jersey City, N. J., to Pater
son, N. J., 15 miles.
The road was opened in 1834, and leased
in perpetuity September 9,1852, to the New York & Erie, at a rental of
$48,400 per year, and is operated by the New York Lake Erie & Western
as part of its main line.
J. 8. Rogers, President, New York City.
Pennsylvania.- Line of Road—The Pennsylvania system embraces
about 5,500 miles of railroad, including all east and west of Pittsburg
and a clear idea of the territory covered can only be conveyed by a map,
At the close of 1884 the mileage operated east of Pittsburg & Erie, on
which earnings as reported were based, was divided as follows: Penn¬
sylvania Division and branches, 1,471; Philadelphia & Erie Division,
287; United Railroads of N. J. and branches, 443; total operated, New
York to Pittsburg, with branches, 2,202.
Organization, Leases, &c.—The charter of the Pennsylvania Rail¬
road was dated April 13,1846, for a line from Harrisburg to Pittsburg.
The line from Harrisburg to Philadelphia was under other organizations,
including the State Railroad, and the Harrisburg Portsmouth Mt. Joy &
Lancaster is still operated under a lease though forming part of the
mainline. Road opened in 1854. The great number of leases, both east
and west of Pittsburg, were made for the most part UDder the adminis¬
trations of J. Edgar Thomson and Thos. A. Scott in the few years preced
ing 1873. The terms of the leases will be found under the names of the
respective leased roads.
Pennsylvania Company was organized in 1870 as an auxiliary
Corporation to control and operate all the lines west of Pittsburg & Erie,
ana the Pennsylvania Railroad Co. holds all the stock of the Pennsylva¬
nia Company; the similarity of names has given rise to much confusion
Stock and Bonds.—The Pennsylvania Railroad stock lias been in¬
creased from time to time, chiefly by the sale of stock at par to stock¬
holders, for the purpose of raising capital for new acquisitions or better¬
ments. In the period of depression following 1873 the Pennsylvania
RR. dividends were reduced and sometimes passed. The dividends paid
each year since 1870 have been—in 187», 1872, 1873 and 1874, 10 per
cent each year; in 1875 and 1876, 8 per cent each year; in 1877, 4; in
1878/2; in 1879,4*2; in 1880,6 and 1 per cent in scrip; in 1881, 8;
in 1882, 8*2; in 1883, 8*2; in 1884, 7.
The prices of the stock yearly in Philadelphia since 1875 have been—
In 1876, 453>58%; in 1877, 24%®49; in 1878, 27a>35 *4; in 1879, 32%
®51%; in 1880, 48^67*4; in 1881. 59*2®70*8; in 1882, 53%®65i4;
in 1883, 56*8@64%; in 1884, 49*4®61; in 1885, to April 17, 49*2 * 54%.
In March, 1881, the company purchased 217,819 snares of the Phila¬
delphia Wilmington Si' Baltimore RR., and the directors authorized the
issue of $20,000,000 new stock of the Pennsylvania RR. In July, 1881,
the 4 per ct. bonds secured by P. W. & B. stock were issued, and they are
purchased vearlv at not over par with the surplus proceeds of Ph. W. &
B. dividends paid to the trustees, and not needed for the payment of ’nt.
The collateral trust loan of 1883 is secured by the deposit of mortgage
bonds of subsidiary lines to the par value of $12,500,000.
Operations, Finances, &c.—The Pennsylvania RR. was the first In the
United States to begin the practice of leasing or controlling a great number
of branch and connecting roads to secure the business in certain terri¬
tories. The company finally gave up its interest in roads south of the
Potomac, including the Richmond <fc Danville. The total cost to the Penn¬
sylvania Railroad Co. of the stocks and bonds of other companies held
in its treasury was, up to Dec. 31, 1884, $96,866,517 (par value of the
same $128,058,846), most of which is represented on the other side of
the balance sheet by issues of Penn. Railroad stock and bonds and other
debit items, the balance to credit of “ profit and loss” is $14,032,918.
A scheme to buy up the company’s guaranteed securities with $600,000 per wear from earnings is in operation, and he entire amount
paid by the company into the Trust up to the end of 1884 was $3,700,Tne
3,789.000
2,804,000
630,000
94,777,850
19,999,760
2,660,913
Stocks—Last
Y., Del., L. & W. RR.
Feb., 1885.
Whom.
M. & N.
J. & J.
J. & J.
do
do
1885190*T
1903?
do
Nov. 1, 1931
Jan. 1, 1910
Jan. 1, 1915
New York, Office.
3
July
London.
New York.
New York.
M. & N.
J. & J.
M. & N.
Dividend.
do
New York.
New York, Agency.
do
do
A. & O.
4*2
2, 1884
’85 to ’89 & ’97
Nov. 1, 1910
Jan. 3, 1885Nov. 29,1884
1910
Philadelphia, Office.
Philadelphia & London.
Philadelphia, Office.
Annually.
0,—M. Philadelphia & London. June 15, 1905J. & D.
do
do
Dec. 1, 1919
J. & J.
do
do
July 1, 1921
do
do
J. & D.
June 1, 1913
4*2
5
1891-93
Q’rtrly
Philadelphia.
5
J. & J. Phil.,Pa., Co.,forins.&c. Jan. 1, 1901
4
For 1883
Pittsburgh, Co.’s Office
6
Q.-J. Philu. Tr. S. D. & I. Co. July 5, 1907
4*2g. J. & J. N. Y., Nat. City Bank. July 1, 1921
7
T. & D. Pliila., B'k N. America. Jun6 1, 1890
6
5
6
5
4
8,197,000
1,000,000
20,000,000
2,444,000
13,367,000
1,500,000
1,500,000
3,750,000
3,750,000
1,500,000
8,400,000
1,287,000
pal,When Dne.
Payable, and by
Where
F. & A. N.
M. & N.
M. & S.
7
7
5
6 g.
7
7
8
7 g.
6 g.
550,000
2,000,000
400,000
1,000,000
7,000,000
When
Payable
4*a
62,000
8,734.000
5,940,000
....
1,000
Cent.
27,482,930
5,000,000
1,000
1,000
Rate per !
438.000
500 &c.
500 &c.
100
£200
1,000
....
Outstanding
$1,320,400
1,000
1873
1879
1881
1875
Amount
500 &c.
1,000
Bond 8—Princi¬
INTEREST OR DIVIDEND.
.
Miles
Date Size, or
of
Par
of
Road. Bonds Value.
Oswego dk
BONDS.
AND
STOCKS
RAILROAD
April, 1885.J
Q.-J.
A. & O.
....
J.
5
4
J. & D.
F. & A. N.
J
....
1,470,000
1,230,000
m.
*
June 1. 1906
Y., Chic., R. I. & Pac.
July 1, 1913Feb., 1885
‘
& J. N. Y., Met. Nat. Bank.
do
do
M. & 8.
New York.
M. & S.J
do
6 g6
6
6
858,000
m
do
do
& D.
7
J.
Jan.
Jan.
1,
1,
Sept. 1,
Sept. 1,
1920
1920
1920
1920
000.
There had been purchased for the fund securities of the par
value of $4,423,750, which yield an interest of 6 8 per cent per annum,
upon the purchase price.
For two months from Jan. 1,1885, gross earnings were $6,353,222,.
against $7,000,966 in 1884; net, $1,821,063, against $2,290,715.
An abstract of the latest report issued, that for 1884, was published In
the Chronicle (V. 40, pp. 302 and 306, and an article on p. 285).
A summary of the total business of 1884, compared with previoua
years, is shown in the following ;
ALL LINES BOTH
EAST AND WEST OF PITTSBURG
Gross earnings
Operating expenses
& ERIE.
1884.
1883.
1882.
$97,849,875
$105,653,532
68,917,056
$101,514,926
65,385,714
64,434,317
Net earnings
$33,415,558
$36,736,476
$36,129,212:
The income account embraces all receipts and expenses of the Penn¬
sylvania Railroad proper, but not including the roads west of Pittsburg
& Erie operated by the Pennsylvania Company. The account for the
years 1882, 1883 and 1884 was as follows:
GENERAL INCOME ACCOUNT—(PENN. RR. CO.)
1882.
1883.
1884
Net income Penn. RR. Division.$10,768,563 $11,943,432 $10,185,529*
Net loss New Jersey Division ..
568,758
653,914
593,536
Balance
Deduct—
$10,199,805
$11,289,516
$9,591,993
$600,000
282,810
$600,000
280,860
$600,000
277,460
257,384
251,520
409,490
698,320
361,591
50.0C0
15,000
15,000
15,000
90,000
90,000
90,( 00
$1,685,285
6,890,715
f8%a)
$1,736,870
$9,552,616
7,530,650
(8**)
$1,590,780
$8,001,213
6.560,787
(7)
$1,623,805
$2,021,996
$1,440,426
$2,021,996
$1,440,426
603,452
1,020,692
$1,418,544
12,194,639
$419,734
13,613,184
Payments to trust fund
Consol, mortgageredeemed
Shamokin Coal Co.—Advances
3,500
.
Allegheny Yal. RR.—Deficiency
Advances.
Do
Sunb. Haz. &Wilk.—Deficiency.
Fred. & Penn. Line RR.
do
Am. 88. Co.—To meet int. guar..
Do.
Advances.
25,000
Balance to credit of income.... $8,514,52©
Dividends
Rate of dividend
To credit of profit and loss
Add from old accounts
profit
on
and
sale of securities—
226,755
$1,850,560
Deduct balance in settlement
of claims and old accounts, &c.
Balance
Add profit and loss
Balance profit and
Jan. 1
—
,
$1,850,560
10,344,079
loss Dec. 31.$12,194,639
$13,613,183 $14,032,918-
275. 291, 296, 323, 370, 38&
493, 510,541,630,647,707,751,764; V. 39, p. 48, 85, 96,202, 226
234, 337, 349, 473, 493, 514, 593,606, 654, 721, 734; Y. 40, p. 134,152
—(V. 38, p. 31, 116, 196, 203, 241, 262,
253, 270, 285, 302, 306, 377, 394.)
Pennsylvania Company.—The Pennsylvania Company is a cor¬
poration chartered by the Pennsylvania Legislature, April 7,1870, dis¬
tinct from the Pennsylvania RR., and operates all the leased lines west
of Pittsburg. The stock is owned by the Pennsylvania RR.
The registered bonds are secured by deposit of $4,000,000 of Pittsb. Ft.
W. & Chic, special stock. The gold bonds of 1921 are secured by a deposit*
in trust of the leases of the Pitts. Ft. W. & Chic, and the Cleve. & Pitts,
railroads and are also guaranteed by the Penna. RR. Co. The trustees
of the mort. are Wistar Morris, Edmund Smith and 8. M. Felton. The
sinking fund is 1 per cent per annum if the bonds can be bought at par.
The whole number of miles operated or in any way controlledby this company is 3,224. The income account of the company showed
net profits over all liabilities of $1,896,487 in 1880; $1,866,183 in 1881;
$1,867,883 in’82; $872,829 m ’83; loss in 1884, $710,220. (V. 40,p.286.
Pennsylvania Sc New York (Canal and Railway).—Owns
from Wilkesbarre, Pa., to N. Y. L. E. & W. RR. near New York State
Line, 104 miles. Branches to mines, 23 miles. Operated in connection
with the Lehigh Valley Railroad as a northern outlet. Common stock,
$1,061,700, and preferred stock, $4,000,000. Gross earnings in 1881-82,
{>2,303,514; net, $1,043,401. Gross in 1882-83, $',316,847; net,
$961,821. Ten per cent paid on pref. stock in January, 1884. Elisha P.
Wilbur, President, Philadelphia, Pa. (V. 40, p. 303.)
Pennsylvania Schuylkill Valley.—June 1, 1883, the organiza¬
tion of this company was completed by consolidation between the Phil.
Norristown & Phcenixvilie, the Phcenixville Pottstown & Reading andthe Phcenixville & West Chester railroad companies.
The road extends
from Philadelphia to Reading, and is controlled by the Penn. RR. Co.
Peoria Sc Bureau
Valley.—Owns from Bureau Junction to Peo¬
ria, Ill., 47 miles. The road was leased
the Chicago & Rock Island Railroad at a
Officers same as Rock Island.
in perpetuity April 14, 1854, to
rental of $125,000 per annum.
Peoria Becatur Sc Evansville.—Owns
235 miles; branch-Stewartsville, Ind., to
from Peoria to Evansville.
New Harmony, Ind.,
KAIL ROAD,
70
Subscribers will confer a
great favor by
explanation of column headings,
on first page of tables.
Peoria db Pekin
Income
Miles
<fcc., see notes
mortgage,
20
20
38
38
11
-
P. Sc R., (sink, fund)
mort.), redeemable after
Petersh ti.rq—Stock
.
Guaranteed pref. stock, 6 per cent
1st mort. bonds
(payable $25,000 yearly)
Mortgage bonds, class A
Mnrt.o-floffl hfin^s, class B
...
_
mortgage (for $2,500,000)
■Westchester A Pliila., 1st mortgaee
Phila ft elph in if- Erie—Stock, common
1st
Preferred stock
1st mort., Sunbury &
E. (extended 20 years in ’77).
2d
mortgage
General M.. g., guar by Pa.RR.($5,263.000 rg. 5s)
Debenture bonds (redeemable at any time).......
Phila. QermanVn <f: Chestnut Bill—1st mort., guar
Philadelphia Germantown cC Morristown—Stock. ...
83
83
27
287
287
40
287
287
"7
Philadelphia & Reading—Stock, common
932
932
outstanding Oet. 1, 1884..
Mortgage loan, sterling, coupon
do
1.125.000
dollars, coupon
convertible, coupon
Mortgage, loans, coupon
do
50
1,000
100 &C
50
50
1869
1885
1883
....
1857
500 &o
1868
1,000
to Peoria, Ill., 10 miles;
3 miles; total, 234 miles.
This road is a
Pekin Lincoln & Decatur RR. (formerly leased to the
Decatur Mattoon & So. and the Grayvilie Sc Mattoon.
1884 in V. 40, p. 362. Gross earnings in 1884, $759,768;
Q.-F. N. Y., Central Trust Co.
May 1. N.Y..W.H Brown A bro.
A. <te 0. Phila., Phil. &Rend.RR
do
do
J. & D.
M. & N
Nashua, Treasurer.
A. Sc O. Boston, N. E. Trust Co.
2,747,910
967,200
1,499,500
79,000
2,700.000
5
I.
do
Philadelphia, Pa. RR.
Philadelphia, Pa. RR.
.
7
7
5 & 6 g.
4^
3
5
6
2^
31s
A. & O.
J. A J.
6
6
7
Stock 8—Last
Dividend.
Feb.
Feb.
do
do
1, 1921
1, 1921
Apr. 1, 1887
1913
Nov., 1884
June 1,
1, 1897
Oct.
m
m
m mm
1885-’98
July 1, 1926
Oct, 1, 1926
Jan
,
Nov. 1,
i911
April 1, 1891
1. 1897
July 1, 1888
Oct.
Philadelphia Sc London. July, 1, 1920
Philadelphia. Penn.RR. Feb. 1. 1915
May 1, 1913
Q.-M. Pliila., Treasurer of Co. Mar. 3. 1885
Various
F. & A.
M. & N.
A. Sc O.
Phila., 227 So. 4th St.
Q-J.
Philadelphia, Office.
J.
J.
J.
A.
London.
& J.
Sc J.
<fc J.
& O.
Philadelphia, Office.
do
do
do
1
■
Oct.
do
1,
1897
Jail. 25,1876
1880
do
do
Q.-J.
4, 5, 6
6
pal,When Due,
m
Petersburg, Va.
M. & N. Pliila. Company’s Office.
do
do
A. Sc 0.
700,000
33,182,875
1,551,800
£500
6 g.
6 g.
6
6 g.
3
6
7
3
8
Whom.
-
5
7
50
1,000
Payable
aud by
1,660,000
1,100/300
100 &o
50
50
1843-9
Cent.
Where Payable,
6
1,500,000
1,000,000
2.231,900
900,000
1,200.000
1884
1843
When
900,000
2,495.650
13.943,000
50
Rate per
& J.
J. & J.
A. & 0.
7,015,000
2.400,000
976,000
3,000,000
1,000
1,000
1,000
1,000
1,000
1857
1868
through Decatur,
consolidation of the
Wabash) and the
Annual report for
net, $231,921;
interest on mort. bonds, $165,420; payment on equipment certificates,
$47,333; surplus $19,168. (V. 38, p. 387; y. 40, p. 3624
Peoria Sc Pekin Union.—Owns from Pekin to Peoria, 10 miles
on each side of Ill. River; total operated, 20 miles.
The road is a union
road, and the stock of $1,000,000 was taken by the different Peoria
miles; leased, Pekin, III.,
1,000,700
323,500
344,000
560,000
1869
1881
1881
1881
1871
385,000
89,000
-
1833
*21
u
1,000
100
500 Sec.
100
50
29
Philadelphia <fm hong Ttraneh—1st mortgage
Philadelphia Newtown New York—Stock
Pfc.ferrc.d stock
Receiver’s certincates
100
$1,500,000
1,500,000
799,600
$1,000
1,000
1881
1881
1867
1873
63
”82
Outstanding
Value.
1877
1882
Amount
Par
of
Road. Bonds
non-eumulative, gold
Bonds (not
Size, or
Date
of
Union—1st mortgage, gold, coupon
Perkiomen—1st mortgage
Consol, mort., gold, guar.
discovered In tbese Tables.
Ronds—Princi¬
giving Immediate notice of any error
INTEREST OR DIVIDENDS.
DESCRIPTION.
For
[Vol. XL.
STOCKS AND BONDS
•
July, 1910
July, 1910
July, 1886
Oct. 1, 1893
■
Philadelphia Newtown & New
York.—Owns from Erie Ave. *
Philadelphia, to Newtown, Pa., 21 miles. Capital stock, $1,200,000*
On November 10, 1879, the Philadelphia Sc Reading Railroad purchased
12,012 shares, giving control of the property, and guaranteed tiie bonds;
the road is operated in connection with the North Pennsylvania RR.
Earnings in 1881-82. $60,000; expenses. $126,422 ; deficit, $65,717. In
1882-83 earnings, $68,447; expenses, $102,259 ; deficit, $33,812.
net, $174,36S; balance over interest and rentals, $71,889. A. L. Hop¬
kins, President, New York.
Perklomen.—Own
from Perkiomen Junction, Pa., to Emaus
Junction, 39 miles. The road was leased for 19 years from Aug. 1,
1868, to Phila. & Reading RR., and bonds guaranteed by the lessees; but
the property was surrendered and all control given up in May, 1879.
Stock, $38,040. The balance sheet gives on the credit side $781,120 as
Philadelphia <Si Reading loan account. Net earnings in 1831-82, $122,295; in 1882-83, $115,804. Interest on debt, $115,476. (V. 38, p. 107.)
Philadelphia Sc Reading.—Line of
Road—Owns main line,
Philadelphia to Mount Carbon, Pa., 98 miles: branches owned, 223
miles; leased lines,532 miles; roads controlled, 73 miles: total oper¬
ated in Nov., 1883,932 miles. These leased lines include the No. Pennsyl¬
vania and Delaware Sc Bound Brook roads, from Philadelphia to Bound
Brook, N. J.. and branch to Trenton, but not the Central of New Jersey
roads. In May, 1883, leased the Central RR. of New Jersey, including
its leased lines in Pennsylvania, 650 miles, but 63 miles of these roads
are
sub let to other
companies.
Sliamokin Sunbury
connection with the Jersey
other linet
Central Sc Hudson lines as
In June, 1883, the
Sc Lewisburg was finished, aud this, in
Shore Pine Creek & Buffalo road to Stokesdale, forms over
the important conneetiou with the New York
Geneva aud Lyons, N. Y.
Organization, Leases, &c.-jThe Philadelphia Sc Reading
Company
build from Philadelphia to Reading, and
on May 13, 1872, the Mount Carbon Railroad was merged and became
part of the main line. Road opened Philadelphia to Pottsville in Jan.,
Peterborough.—Owns from Wilton to Greenfield, N. H., 11 miles. 1842. The Philadelphia Sc Reading Co. leases a number of roads in
Completed Jan. 1, 1874. and leased by Nashua & Lowell Railroad Pennsylvania, including the Catawissa, Chester Valley, Colebrookdale,
for 20 years from 1873 at 6 per cent on cost of the road. In 1879 East Pennsylvania, Little Schuylkill, Mine Hill, Schuylkill Valley, Phila¬
lessees withheld rental, but a suit was decided in favor of Peterborough. delphia Germantown Sc Norristown, Philadelphia Sc Chester, and some
minor roads; also the North Pennsylvania Railroad and Delaware
James Scott. President, Peterborough. N. H.
& Bound Brook, forming the line from Philadelphia to New York. In
Petersburg.—Petersburg, Va., to Weldon, N. C., 63 miles. In May,
1877. a receiver was appointed, but steps were taken by second mort¬ May, 1883, the Central of New Jersey was leased, including the leased
lines of that company in Pennsylvania.
The fiscal year ends Novem¬
gage bondholders to prevent a sale, and reorganization was made with ber 30. The annual election is held early in January and stock must
$323,500 preferred stock and $1,000,700 common stock. $440,000 Class stand in the name of a holder for three months prior to the elec¬
“A” bonds are still in hands of Central Trust Co., of which $350,000 are
reserved to retire old 1st mortgage 8s. In 1883-84, gross earnings, tion to entitle such holder to vote.
The Philadelphia Sc Reading Coal & Iron Company is a corporation
$347,132; net, $143,587 ; in 1882-83, gross, $335,179 ; net, $154,215. formed
(Dec. 12,1871) for the purpose of owning and working the ex¬
—(V. 40, p. 29.)
tensive coal properties of this company. The Pliila. Sc Read. RR. Co. owns
Philadelphia Sc Baltimore Central.—Philadelphia to West
all the stock ($3,000,000) of the Coal & IroD Company.
Chester, 26 miles; Westchester Junction to Octoraro Md.. 46 miles;
The Phila. & Read. RR. and the Iron Company *rere in the hands of
leased Chester Creek Railroad, 7 miles; total operated, 79 miles. This
receivers from May, 1880, to May, 1833. Again in June, 1884, receivers
was a consolidation, Oct., 1881, of the Philadelphia & Baltimore Cen¬
were appointed.
tral and the Westchester & Philadelphia railroads. Of the new stock
Stock and Bonds.—'The preferred stock is of small am omit, and did
Philadelphia Wilmington <fc Baltimore RR. holds nearly all. In 1883, net not receive
any dividends from 1880 till 1834, when 21 per cent for
'©arnings. $100,946; deficit, $45,686. In 1833-4, net earnings, $' 40,066; back
dividends was voted, contingent on the negotiation of the collateral
deficit, $6,744.
Philadelphia Sc Erie.—Owns from Sunbury to Erie, 287 miles. trust loan. The dividends paid on Philadelphia & Reading stock from
1870 to 1875, inclusive, were 10 per cent each year; in 1876 2 ^ per cent
-Formerly Sunbury & Erie RR. It was leased to Pennsylvania RR. for
'999 years from Jan. 1, 1862, the lessees to pay 30 per cent ot gross was paid and nothing since.
The range of P. & R. stock yearly in Philadelphia since 1875 has been:
Teoeipt as rental, but modified January 1, 1870, so that actual net
in 1876, 18*20)55; in 1877, 10^20^; iu 1878, 1138©19%; in 1879,
reoeipts are paid as rental. The general mortgage is guaranteed by the
Pennsylvania Railroad and the interest on the 6s is paid J. Sc J., oh the 11^37^; in 1880, 6%S/36^; in 1881, 2o^s?i>37H', in 1882,23363
5 per cents A. Sc O. The unpaid coupons are held by the lessee for ad¬ 335a; in 1883, 23^@30^; in 1884, 8^304; 1885 to Apr. 17, 6383>9»8.
The bonds in the table above are arranged with the mortgage bonds
vances, and by terms of adjustment in Jan., 1885, made with the Penna.
Railroad Co. the P. & E. issued $1,500,000 debenture bonds at 4*s per placed first, then the plain debentures, income boriGs, scrip, &o. Of the
general mortgage bonds dated iu 1874, $5,000,000 more at 7 per cent
cent, secure 1 by the overdue coupons held as collateral.
were issued m 1882.
Under the sinkiug fund clause the right has been
Last report was in Chronicle of Feb. 28. ’35, giving the following ;
claimed by Mr. Goweu to pay off the general mortgage bonds at any
INCOME ACCOUNT.
time, on proper notice.
18S4.
1883.
1882.
1881.
The trustees of the general mortgage of
1874 hold the bonds of the Coal Sc Iron Co., viz., $29,737,965 mortgage
$
$
$
$
3,660.146 of 1874 and tlie Philadelphia Sc Reading Co. also holds the $10,000,000
4,108,843
4,011,414
3,454,309
Total gross earnings.
mortgage of the Coal Sc Iron Co. dated 1876.
Net receipts—
The Deferred Income bonds have a claim for 6 per cent interest only
1,458,080
1,483,020
1,411.830
1,024,250
Net earnings
3.586
9,120 after 6 per cent lias been paid on the stock. In January, 1883, th,e con¬
4,892
4,835
Rents
vertible adjustment scrip was issued, secured by $4,000,000 income
1,467/200 mortgage (see terms in V. 36. p. 48), payable on 90 days’ notice any
1,492,912
1,415.466
1,029,085
Total income....
time after July, 1885, and convertible into stock at par, and the new
$
$
*$
$
jyisbursemenis—
1,062,270
1,062,270
1,062.270 ctmsol. mortgage dated in 1882. due in 1922, was issued in adjustment
1,077,995
Interest on debt....
162/281
166,801 of certain liabilities. In addition to the bonds above given there were
160,410
165,345
Interest on equipm’t
P. Sc R. real estate mortgages amounting, Nov. 30,1883, to $2,049,030,
10,000
135,278
Extraordiu’ry exp’s.
21,147 and P. Sc R. Coal & Iron Co. real estate mortgages of $690,983, and
95,087
43,024
45,710
Miscellaneous
was
chartered April 4, 1833, to
„
Locust Dale
1,250,2 L3
1,277,575
1,317,767
1,421,328
Total disbursem’ts
Balance, sur. or def.. def.395/243 sur.97,699 sur/215,337 sur.216,982
—(V. 38, p 31, 228; V. 40, p. 183, 268.)
mortgage $156,000.
Operations, Finances, &c.—The Philadelphia & Reading Co. has
been the largest of the anthracite coal carriers, and through its auxiliary,
the Philadelphia & Reading Coal Sc Iron Co., became a large owner
coal lands. Between 1870 and 1876 tlieP. & R. increased heavily its
of
Philadelphia Germantown Sc Chestnut Hill.—In Pliiladel- capital account in the purchase of new properties, and after paying 10
phia frotn Germantown June., on Connecting Railway, to Chestnut Hill, per cent dividends for some years ceased to pay after Jan., 1876.
t>% miles. From May 1, 1883, leased for 30 years to the Pennsylvania
In May, 1880, the company suspended payment, and on May 24
RR. Co., which guarantees 4^ per cent on the bonds.
receivers,were appointed and held possession till May. 1883. But in
Philadelphia Germantown Sc Norristown.— Philadelphia.
June, 1884. the company again went into receivers’ hands.
In 1883 the P. & R. Co. assumed a new position in two respects, first
Germantown .Branch, 3 miles; Ply¬
mouth Railroad, 9 miles; total, 29 miles.
The property was leased by building the connecting line to .carry eoal to the New York Central
Nov. 10, 1870, to Philadelphia & Reading Railroad for 999 years at a Sc Hudson, and secondly by leasing the Central of New Jersey railroad
rental of $269,623 and $8,000 yearly for organization expenses. Divi¬ system, assuming all its liabilities and agreeing to pay 6 per cent a year
dends ef 12 per cent per annum are regularly paid.
on the Central of New Jersey stock.
By this lease all the Central of N.J,
Philadelphia Sc Long Branch.—A consolidation In 1883 of the. coal lands and coal traffic were controlled, giving the Pliila. Sc Reading
Pemberton & N. Y\ road and the Philadelphia & Long Branch road. Ex¬ control of about 4o per ceut of the anthracite coal business
The charges on Central of N. J. lease were heavy and coal profits
tends from Pemberton Junction to the N. Y. Sc Long Branch road, near
declined largely, so that on June 2,18^4, G. DeB. Keirn. Edwin M. Lewis
Bay Head, N. J., 41 miles. Road leased to and operated by the Penna.
and Stephen A. Caldwell were appointed receivers of the Philadelphia &
RR. Stock is $900,000, of which $750,000, together with $750,000
Reading RR. aud Iron Cos. A financial exhibit was made by the
bonds, are held by Pennsylvania Railroad Co.
Pa., to Norristown, Pa., 17 miles;
RAILROAD STOCKS AND BONDS
April, 1885. J
Subscribers will confer a great favor
DESCRIPTION.
For
explanation of column headings, Ac., see notes
on
first page
of tables.
by giving immediate notice of any error discovered in these Tables.
Miles
of
Road.
Consol, mort. ($8,193,000 are gold 6s) cp. or reg.
Improvement mort., gold, $ or £, coup
Gen. mort., gold, $ and £, cp.($5,000,000 are 7s).
Income mortgage. $
Consol. M, of ’82, 1st ser., gold (for $80,000,000).
2d senes (for $80,000,000)
loan, coup
convertible, coupon
Scrip deben. and guar, bonds, currency
do
Debenture
do
m
m
m
m
m
m
m
•
....
....
....
...
....
....
Scrip general mort. and Perkiomen, 6, sterling..
Deferred Income bonds
Conv. adjustment scrip (for $4,000,000)
Car trust certificates
do
do
P. A R. Coal & I., purchase money mort.
do
debenture loan
Philadelphia <£ Trenton—Stock
....
....
bonds...
Pittsb. Cleee. <£ Toledo—1st mortg., gold, int. guar..
Pitts. 0.& St.L— 1st M.,con8ol., reg. and coup
2d consol, mortgage
in 1884, reg
1871
1873
1874
1876
1882
1883
1868
1873
1877
1877
1882
18831883
1884
1872-4
1872
200 Ac.
78
200
200
125
33
_
.
500 Ac.
500 Ae.
100 Ac.
100 Ac.
Gross receipts
Gross expenses
1868
1859
1876
1985
1.000
100 Ac.
£200
4,000,000
6,321,000
TOO Ac.
10.000.0d0
5 g.
1.000
...
1,000
1,000
1,000
1,000
149
10
149
149
1882-83.
$13,396,534
$15,385,812
1883-84.
1882-83.
t$13,519,201
Company-
$15,469,251
42,208
27,499
38,236
42,221
'55,909
15,609,499
12,101,666
1,142.286
1,126,942
$16,874,453
$3,355,251
$13,312,017
*$2,157,233
Philadelphia Wilmington Sc Baltimore.—Mileage as follows:
Baltimore Central, 79; Delaware RR., 10u; Queen Anne & KentRR..
26; Delaware & Chesapeake, 55; Cambridge <s Seaford RR., 27 ; total
operated, 409 miles. Owns over half the stock of the Phil. & Balt. Cent.
This road on the main route, Philadelphia to Baltimore, has been
frofltable,
paying
regular
withhave
surplus.
870 dividends
of 8
dividends,
a considerable
on the stock
per cent
been paid each
year.From
April, 1881, nearly the whole stock
was purchased
Income account was as follows:
and is held by
INCOME ACCOUNT.
1882.
1883.
1884.
$
1,751,598
$
1,675,897
$
1,855,178
103,258
109,343
133,496
1,785,245
$
1,988,674
$
331,3'8
201,485
47,682
Rentals paid
Interest ou debt
Taxes
r.
242,989
94,203
1,854,856
$
331,417
180,284
54,367
Dividends, 8
935,512
943,604
943,604
13,170
150,133
9.3,604
14,543
1,522,342
332,014
1,639,078
146,167
1,533,653
450,016
Tota
dl3bur3em*t3...
1,272,704
290,054
326,600
Stocks—Last
Dividend.
285,329
211,778
4*,234
do
do
Philadelphia A Loudou.
J.
A J.
Philadelphia A Loudon.
.
Philadelphia, Office.
Pliila. and Londou.
do
do
Philadelphia, Office.
June, 1911
Oct.
1, 1897
July 1, 1908
Dec. 1, 1896
Feb. 1, 1933
Feb. 1, 1933
July 1, 1893
do
do
Jan.
do
do
July, 1882-84
July, 1882-85
1,
1893
Irredeemable.’
Jan. 1, 1888
Various
M. A S.
Philadelphia, Office.
Q.-J.
Philadelphia, Office.
J.
A.
A.
A.
I.
A.
F.
A.
J.
J.
F.
J.
F.
I.
A
A
A
A
A
A
A
A
A
A
A
A
A
A
do
do
J. PliU’delpliia, Co.’s Office
do
do
O.
no
do
O.
do
do
O.
do
do
D.
New York.
O.
A. Pliila., Pa., RR. Office.
do
do
O.
do
J.
do
do
do
J.
A.
do
do
J. Balt., Balt. A Ohio RR.
A. Pittsb., First Nat. Bank
J.j London. J.S.MonranACo
New York Agency.
1892 to"i894
1892
Jan. 10.1885
Jan. 2, 1885
April, 1887
Oct,
1.
1892
April 1. 1900
June, 1910
Oct.
1, 1922
Aug. 1, 1900
April 1, 1913
Jan. 1914
Jan., 1900
1893
July, 1898
Aug. 1, 1889
Jan. 1, 1926
Feb. 1, 1925
Pittsburg Cleveland Sc Toledo.—From Neweastlo^Junction, Pa.,
Akron, O., 77 miles. Stock $3,000,000, par $50. Leased in July,
1884, for 93 years, to Pittsburg & Western, which is controlled by Balt.
A Ohio, and this company guarantees interest on the P. C. A T. bonds
(see terms in V. 39, p. 607.) V. 39, p. 454, 607; V. 40, p. 53.
Pittsburg Cincinnati Sc St. Louis.—Owns from Pittsburg, Pa.,
to Columbus, Ohio, 193 uiles; branch to Cadiz, Ohio, 8 miles; total, 201
miles. This was a consolidation of several companies, May 1, 1868, in¬
cluding the Steubenville & Indiana and the Pan Handle roads. This com¬
pany is controlled by the Penn. Company, through the ownership of a
majority of its stock. This company also held leases of the Little Miami
and its dependencies. Operated by the Penna. Company, and earnings
separately stated. Common stock, $2,508,000; first nref. $2,929,200;
second preferred, $3,000,000; par value of shares. $50. Authorized
amount of 1st mort. $10,000,000, of which $3,137,000 reserved to take
up iirior liens.
The report for the year 1883, in V. 33, p. 645, said: “The tonnage
transported was 3,466,541 tons, against 3.125,045 tons in 1882, an in¬
crease of 340,899 tons, mainly in coal and live stock.
The coke traffic
shows a decrease of about 25 per cent, or 84,346 tons, and grain a de¬
crease of 78,097 tons.
There was an increase iu freight earuiugs of
$315,669, of which $179,521 was from through tonnage. The average
rate received per ton per mile was 7 6 mills, as compared with 7 mills
for the previous year, but the average cost also shows a slight increase.
to
There
Philadelphia Wilmington & Baltimore RR., 122 miles; Philadelphia A
Balance, surplus...'...
-(V. 38, p. 259.)
1,000,000
2,400,000
6,863,000
2,500,000
3,000,000
134,000
...
J.
D.
N.
A.
J
A J.
A J.
A J.
2*2
1,000
1,000
A
A
A
A
A
J.
J.
M.
F.
J.
J.
J.
J.
6 A 7
7
1867
1872-4
1875
1880
1882
1868
1873
1864
1864
Surplus.
1 The slight difference from the figures above is due to miscel’s rec’p’ts.
The joint statement of the Railroad and the Coal and Iron companies,
showing the earnings and expenses, the fixed charges for interest,
rentals, Ac. (but not including any payments to sinking funds), are given
as follows for three years previously, not including any receipts or
expenses of the Central of New Jersey:
Gross
Op. Exp. and
Net
Year.
Revenue.
Rentals.
Revenue. Interest, Ac.
Profit.
1880-81 $35,286,463 $28,598,114 $6,688,348 $6,505,093
$183,256
1881 82 37.300,161
30,053,228
7,246,933
6,363,989
882,944
1882-83 40,045,616
31,705,682
8,339,934
6,816.183
1,523,751
—(V. 38, p. 61, 85, 148, 241, 259, 262, 388, 399, 424, 521, 541, 558,
620, 630, 647, 661, 679, 707, 731; V. 39, p. 3. 2 \ 109. 128. 157, 209,
220, 234, 350, 382, 402,448, 461, 473, 494, 514, 522, 545, 580, 606, 617,
654, 674, 734; V. 40, p. 29. 53, 74, 91,93,110,120,144. 183,214,
241, 270, 281, 305, 364, 393, 394, 426, 454, 481.)
Philadelphia Sc Trenton.—Owns from Kensington, Pa., to Morrisville, Pa., 26 miles and Tioga Branch, 1 mile; leased—Trenton Bridge
Connecting Railroad, 7 miles, and Frankford A Holmesburg Railroad, 4
miles; total owned and leased, 39 miles.
On Dec. 1, 1871, it was
leased with the United Companies of N. J. to the Penn. RR., at 10 per
cent on stock, and is operated as a part o 1 its New York division.
per ct.:..
Whom.
6
4
6
6
6
5
6
7
7
5
76
7
6
6 g.
*
Miscellaneous
6
1,100.000
12,200.000
1,259,100
11,818,350
1,000,000
700,000
800,000
follows:
Deficit of both companies
1,562.758
$
6
6
100
50
.
$46,836,786
31,450,943
Deduct: For the Coal & lion Co.:
Full inteiest on all outstanding obligations
other than those held by the Railroad Co...
Total income
Disbursements—
1.767,020
1,152,000
1883-84.
ing obligations, including floating debt
$
1,4(9,488
153,270
6
1,000
$47,450,848
34,054,314
Debit balance, profit and loss
State tax on capital stock
All rentals and fu l interest on all outstand¬
Receipts—
613.144
25,501,030
3.007,730
500 Ac.
INCOME ACCOUNT.
Net earnings
Other receipts
650,200
10,339,900
7 A 6 g.
7
5 g.
5 g6
7
2.000,000
GROSS AND NET RECEIITS.
1881.
1,732,052
....
110, and the proposal to floating debt holders for extending
was in V. 40. p. 426.
For the three mouths from Dec. 1, 1884, gross earnings (including
Central of New Jersey) were $8,*45,807, a gainst $9,542,039 in i8r3-84;
net, $2,014,087, against $1,994,761 in 1883-84.
The annual repoit lor the year ending Nov. 30, 1884, was in V 40, p.
91, and gave the income account as below, including the Ceutralof New
Jersey for the full year 1883-84, but only for six months 1882-83. From
this report it appeal s that the decrease in net receipts in 1883-84 was
$5,512,484, of which $1,474,231 arose from the loss in operating the
Central of New Jersey. The floating debt Nov. 30. 1*84, was $23,517,623, against $18,065,207 the previous year, an increase of $5,452,416.
In
3,158,329
10 Ac.
90 Ac.
50 Ac.
upon on p.
Penn. RR. Co.
Where Payable, and by
24,686,000
2,454,000
their claims
Net receipts, both companies
From this deduct : For the Railroad
Debit balance renewal fund
When
Payable
1,000
1,000
proposed by the stock and bondholders’
as
Rate per
Cent.
18,811,000 6 g. or 7 J. A D. Philadelphia A London.
do
6 g- A. A O.
do
9,364,000
published in the Chronicle of Oct. 25,
briefly
Outstanding
1,000
committee, and approved substantially by the managers, was quoted ar
much length in the Chronicle, V. 40, p. 93 and 121. and o< mmented
was
pal,When Due.
Amount
120,000
Holliday’s CoveRR. mortgage bonds
Pittsb. dt Connellsville.—1st mortgage
1st mortgage Turtle Creek division..
Consol, mort., guar. B. & O. (s. f. £7.200 pi*, yr.)..
2d consol, mortg., gold (pledged for B.A O. bonds).
Net earnings...
The income account
Bonds—Princi
INTEREST OR DIVIDENDS.
or
Par
Value.
_
do
do
do
receivers Oct. 20, 1884, and
V. 39, p. 461.
The p an of reorganization
Size,
of
Bonds
39
407
Philadelphia Wilmington <£ Baltimore—Stock
Plain bonds, loan
1st mort., Steub. A Ind., extend,
< ol. A Newark Division bonds
Date
I
Philadelphia <& Reading— (Continuedt—
do
do
do
71
were
compared with 1,161,538
carried 1.235.983 passengers, as
gain being on local travel. There was an increase of $57,794
in passenger earnings, the rates being better on both local and through
in 1832, the
traffic.”
For 1984
tlie repoit will show gross earnings of $1,045,257; net,
$1,313,297, against $1,545,059 iu 18s3.
Comparative statistics for four years were as follows:
1881.
1880.
$
Total gross earnings.
P.c.of op.ex.to cam’s
1882.
1883.
$
4,323,407
4,069,053
4,214,923
$
4,623,740
5298
67-82
67*17
66-77
$
1,383,923
$
1,536,275
$
INCOME ACCOUNT.*
$
2,032,682
Receipts—
Net earnings
Rentals and interest
Net from l’sed roads.
Miscellaneous
16,041
647,858
Total income
Disb u rsemen ts—
2,696,581
$
801,048
842,480
174,944
105,000
Rentals paid
Interest on debt
Other interest
Int,on C.&M.Val.bds.
Loss on St. L. V. AT. H.
-
$
1,309,313
22,670
532,690
19.636
8,784
609,271
86,521
401,132
1,864,673
$
2,099.351
1,940,191
819,464
846,769
181,777
105,000
825,447
851,990
222,985
105,000
27,241
170,445
1,950,713
2,123,455
$
$
851,931
714,490
231,216
105,000
82,534
14,832
Miscellaneous
Total
Balance
‘
*.
sur.
745,868 def. 258,782
2,000,033
def.53,842
2.005,422
sur.
93,929
Exclusive of Col. Cliic. A Ind. Cent.
GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR.
1880.
$
Assets—
RR., equipment, Ac..
Stocks owned, cost..
Bonds own°d, cost
Betterm’tstors’d r’ds
..
Bills A accts. receiv..
Materials, fuel, Ac...
Cash on hand
Cin. Str. Conn. Ry...
Profit A loss balance
Total assets
Liabilities—
Stock, common
8tock, preferred
Bonds (see Sup’m’t) ..
All other dues A acc’ts
Due Little Miami RR.
Due C. C. A I.C. RR
Cin. Street Conn.bds.
Miscellaneous
Profit & loss balance.
.
Total liabilities
.
-(V. 38, p. 359, 645
;
1883.
1882.
1881.
$
19,942.295
19,979.033
58,399
283,000
706,241
1,076,528
625,859
462,183
64,639
58,399
283,000
$
19,995,963
57,299
283,000
656,777
1,001,034
832,930
437,707
$
20,605,107
1,085,967
64,639
64,639
20,318
1,107,502
474,337
317,725
64,639
376,393
282,465
232,415
23,219,144
.$
2,508,000
5,929,200
12,497,000
784,754
891,189
23,606,912
$
2,508,000
5,929,200
12,617 000
1,118,636
853,890
23,611,814
23,908,010
$
184,601
262,500
64,849
97,051
184,601
262,500
133,085
$
2,508,000
5,929,200
12.617,000
1,212,134
847,390
184,601
262,500
50,989
23,219.144
23.606,912
23,611,814
835,376
980,133
732,474
297,465
..
2,508,000
5,929,200
12,617,000
1,692,961
847,360
262,500
50,989
23,908,010
V. 40, p. 286, 356.)
Pittsburg Sc Connellsville.—Owns
from
Pittsburg,
Pa., to
Mt. Savage June., Md., 147 miles; branch, 2 miles; leased lines, 22 miles;
total, 171 miles. Leased to the Balt. Sc Ohio RR. since Jan. 1, 1876.
The city of Baltimore transfen ed its interest to the Baltimore & Ohio
Railroad for $1,000,000, and the consolidated sterling mortgage was
made and guaranteed by the Baltimore A Ohio. It is operated as the
Pittsburg Division of tho Baltimore A Ohio RR. Iu 1884 the Balt. &
Ohio issued its bonds for $10,000,000 secured by pledge of the above 2d
RAILROAD STOCKS AND BONDS
72
Subscribers will confer a
great favor by giving
explanation of column headings, Ac., see notes
on
first page
of tables.
Miles
of
1st mort. (series
2d
do (series
3d mortgage
)
468
468
468
468
468
to order.
Chic, construction bonds.
JHtJjtfyu.rg Junction—
PittfMirg J: Lake Erie—Stock
.....
|
70
70
”
1st mortgage, gold, coupon
Pittsburg McKeesport d Toughiogeny—1st
Va. d Charleston— 1st mortgage,
1st mortgage, gold
Pittsburg d Western.—1st mort., g. (for
Ptttso.
mortgage. Pitts. Brad. &
Consol, mortgage
1st
Buff
Port Huron dl?orthwestern—1st
Consolidated mortgage
Equipment mortgage
mortg .
gold
....
.
30
70
$6,000,000)
....
103
•
.. ^
•
•
•
24
112
112
68
....
60
94
53
„
Portsmouth d Dover—Stock
Portsmouth, Qt. Falls d Conway—Stock
1st mortgage
and 2d mort.
Spring/.—1st M. vend, by City Prov.).
Poughkeepsie Hartford d Boston—1st
<Mm8oUdated mortgage of
1871
1862
1862
1862
1857
1878
1882
Outstanding
Value.
1882
1881
1881
1882
Where Payable,
Rate per
When
Cent.
Payable
1\
7
7
7
7
10 8.
6 g.
....
2.000,000
18-23
3
000,000
4,095,000
800,000
275,500
755,000
920,000
138,000
1,000
1,000
1,000
....
....
7 g.
5
6 g.
6
Whom.
100 Ac.
630;000
100 Ac.
500 Ac.
100 Ac.
....
1877
1875
1872
100
100
100
500 Ac.
....
1,000
Stock is
In1883-84,
net earnings were $1,512,125; in 1882-83,
f1,944,400.
1881-82$1,042,132.
1.478,274; in
Chicago.—Owns from Pittsburg, Pa.
468 miles. The company made default Oct. 1,1857, and
again in 1859. and was foreclosed Oct. 24,1861, and reorganized under
this title Feb. 26, 1862. On June 27, 1869, the company leased all its
road and property to the Penn. RR. at a rental equivalent to interest,
sinking fund of debt, and 7 per cent on $19,714,286 stock, which was
increased at that time from $11,500,000. The lease was transferred
•subsequently to the Pennsylvania Company. The lessees are to keep
the road in repair and also pay taxes, expenses, Ac. The rental charge
.is about $2,930,000 per year, and the profit to lessees has been large.
‘The Pittsburg Ft. Wayne A Chicago leases the Newcastle & Beaver
Valley and the Lawrence roads, which in turn are leased again by the
iPennsylvania Co.
The first mortgage bonds are in six series lettered A to F inclusive,
•of $875,000 each series, the interest on “A” series being payable Jan.
^najuly; on “B” it is February and August; on “C” it is March and
September; on “D” it is April and October; on “E” it is May and Nov,,
and on “F” it is June and December. The second mortgage is also in
six series of $60,000 each, lettered H to M inclusive (J omitted), and the
Interest is payable Jan. and July on “G” series, Feb. and Aug. on “ H,”
March and Sept, on “ I,” April and Oct. on “ K,” May and Nov. on “ L,”
and June and Dec. on “ M.” The bonds are coupon, but may be regis¬
tered payable to order. Of the 1st mortgage bonds, $1,337,500, amf of
the 2a mortgage $1,587,500, and $354,088 cash, were held in the sink¬
ing funds Jan. 1, 1881. The special improvement stock is issued to
Pennsylvania RR. for improvements, &c., under article 16 of lease, viz.
Article 16. The party of the first part hereby agrees that, for the
purpose of enabling the party of the second part to meet the obligations
of the party of the first part to the public, by making from time to time
■uch improvements upon and additions to the said Pittsburg Fort Wayne
A Chicago Railway, in the extension of facilities for increased business
by additional tracks and depots, shops and equipments, and the substi¬
tution of stone or iron bridges for wooden bridges, or steel rails for iron
to Chicago, Ill.,
<•
time, special
rails, the party of the first part will issue, from time to
a
stock, which shall bear such name as shall be hereafter agreed upon, or
bonds, or other securities.” * * w “ The said party of the second part
quarterly, thereon of
the parties hereto,
to be paid by the said party of the second part to the holders thereof
without deduction from the rent hereinbefore reserved; and the said
special stock, or bonds, or other securities, shall be issued only in respect
to improvements of and additions to the said railway which, and esti¬
mates and specifications of which, shall have been submitted to and
approved by the said party of the first part in writing.” * * *
It was proposed to change the terms of the lease so as to issue bonds
to the lessee instead of the speoial guaranteed stock, but this was not
consummated and in June, 1884, the Pennsylvania Company began suit
shall guarantee the payment, semi-annually or
such rate of interest as may be agreed upon between
1,500,000
800,000
2,268,000
585,200
....
....
250,000
121,000
1,500,000
769,000
599,000
1.000.000
524,000
500,000
Q.-J.
Q.-J.
Various
Various
A. A O
J. A J.
and by
Bonds—Princi¬
pal, When Due.
Stocks—Last
Dividend.
do
do
1 J.
1. 1887
Jan.
1883
N.
Y., Phila. A Pittsb.
N.Y., Union Trust Co.
Philadelphia.
A J.
7. A J.
A. A O.
July 1. 1928
1932
April
do
April
A- A 0.
J. A J. New York. 3 Broad St. July
do
do
A. A O.
April
1,1902
1, 1912
1, 1921
1, 1911
1911
A. A O. N.
M. A S.
F. A A.
6
6
7
6
6 g.
6 g.
2
3
3 1
3
J.
Y., First Nat. Bank.
N.
A J.
do
do
Y., 252 Broadway.
Oct.
1, 1899
1922
Mar. 1,
Jan.
1, 1899
1898
:
J. A J.
J. A J.
M. A N.
.
.
.
.
4i«
r. a J.
J. A J.
J. A J.
J. A D.
7
7
J.
July 1, 1900
Nat. City Bank.
Jan. 1, 1899
252 Broadway.
Jan., 1900
Portland, Treas. Office.
N. Y.,
N. Y.,
do
do
Portland.
Nov., 1901
July, 1884
Jan. 15,1885
Boston, Office.
Jan. 1,' 1885
Portsmouth, Treas,
Bost., Eastern RR. Co. July 15, 1873
do
do
July 2. 1937
1905
....
A J. Providence,Am. Nat.Bk
July 1, 1892
giving line to Akron, O. Operated in the Baltimore &
Stock, $7,250,000. In addition to above bonds, there
were $300,000 other issues.
On March 23, 1885, on application of the
mortgage trustees, Jas. Callery and J. W. Cholfant of Pittsburg were
appointed receivers. In 1882-83 gross earnings, $342,336; net, $77,426.
Jas. Callery, President, Pittsburg. (V. 38, p. 220; V. 39.
128, 370,
454, 607; V. 40, p. 305, 394, 454.)
Port Huron A Northwestern —Port Huron to East Saginaw,
91 miles; Saginaw Junction to Sand Beach, 58; Port Austin to Palms,
35; Port Huron to Almont, 34; total, 218 miles. In 1884gross earnings
were $288,964; net earnings, $77,595; interest payments, $ L33,187. In
1883 gross, $314,780; net, $116,250; interest payments, $119,104.
John P. Sanborn, President, Port Huron, Mich.
Port Jervis A Monticello.—Owns from Port Jervis, N Y., to
Monticello, N. Y., 24 miles.
Formerly the Monticello & Port Jervis
RR., which was sold in foreclosure July 16, 1875, and reorganized
as the present Port Jervis & Monticello.
Gross earnings in 1882-83,
$33,399; net, $5,150; 1883-84, gross, $39,370; deficit, $15,528. The
stock ($724,276) was issued to the former holders of first mortgage
bonds, of which bonds $50,000 are still out. (V. 39, p. 707.)
Port Royal A Augusta.—Owns from Port Royal, S. C., to Augus¬
ta, Ga., 112 miles. Leased in Sept., 1883, the Augusta & Knoxville roacL,
Augusta, Ga., to Greenwood, S. C., 68 miles, for 99 years, at 5 per cent
on stock of $127,639, and assuming the bonded debt.
Formerly Port
Royal Railroad. Defaulted Nov. 1,1873, and receiver appointed May 9,
1875. Sold in foreclosure June 6,1878, and purchased for the bond¬
holders, who organized this company. The Georgia Railroad was en •
dorser on $500,000 of the old bonds. The stock is $750,000, and in
June, 1881, a controlling interest was purchased by Central Georgia RR.
parties. Earnings for 1882-33 compared with previous years as follows:
1882-83.
1881-82.
1880-81.
Gross earnings
$356,085
$307,100
$32u,234
Operating expenses
272,112
280,227
241,198
& Toledo RR.,
Ohio interest.
Net earnings...,
$40,006
$114,887
$34,987
-(V. 38, p. 541; V. 40, p. 183.)
Portland^; Ogdensburg.—Owns from Portland Me., to Fabyans,
91 miles. It reaches the Vermont Division (now St. Johnsbury & Lake
Champlain) by using 14 miles of the Boston Concord & Montreal RR.
and a 3-mile link of its own. In 1876 the company made default on the
1st mortgage interest and foreclosure proceedings were begun, but com¬
promise was made by giving notes for overdue coupons up to July, 1878.
Interest is not paid on the consolidated mortgage, of which the city of
Portland holds $1,350,000. The city of Portland owned a controlling
interest in the stock, which is $1,052,186.
In March, 1884, a foreclosure suit was begun and receivers appointed
and power to
Court.
issue $200,000 receiver’s certificates was given by the
past were as follows:
Gross Earn’gs.
Net Eam’gs
Miles,
Earnings of the road for three years
Years.
p.
$183,808; net, $25,229.
28,121, 356, 427.)
Y., Winslow, L. A Co. April 7, 1885
do
do
April 1, 1885
do
do
July 1, 1912
do
do
July 1, 1912
do
do
July 1, 1912
<r
the issue of stock due for betterments.
Operations and earnings for four years past were as follows:
Passenger Freight (ton)
Gross
Net
Div’d
Tears. Miles.
Mileage.
Earnings. " Earnings, p. ct.
Mileage.
1881.... 468 130,470,469 1,044,447,161 $10,741,490 $4,883,005
7
1882.... 468 140,057,682
991,907,50L 10,894,870
4,622,476
7
1883.... 468 127,520,075
944,563,376 10,844,358
3,927,688
7
1884.... 468 110,639,940
907,951,237
9,164,041
3,129,152
7
—(V. 38, p. 136, 359, 425, 541, 620, 707; V. 39, p. 159, 324, 654; V. 40,
.to oompel
N.
7
6
7
724^276
1878
1882
1880
1878
1870
1871
51
11
73
73
42
23
$100 $19,714,286
100
10,776,672
500 Ac.
5,250,000
500 Ac.
5,160,000
500 Ac.
2,000,000
100.000
1,000
(1)
50
2,050,000
2,000,000
1,000
2,250,000
1,000
....
tlie Pittsburg & Connellsville RR.
Pittsburg Fort Wayne A
Amount
Par
1879
mortgage
Port Jervis d Monticello—Stock
Port Royal d Augusta - 1st mortgage
2d mort., endorsed by Central Ga
Augusta & Knoxville
General mortgage income bonds, coup
Portland d Ogaensb.—1st mort., gold
Consol, mortgage (for $3,300,000)
Portland d Rochester—Stock ($600,000)
Portland Saco d Portsmouth—Stock
Providence d
Size, or
cf
A to F)) Bonds all coupon, but
G to M) ^ may be made payable
Pittsburg, Ft. Wayne &
Date
of
Road. Bonds
Pittsburg Ft. Wayne d Chicago—Stock, guar
Special improvement stock, guaranteed
'
immediate notice of any error discovered in tbese Tables.
INTEREST OR DIVIDENDS.
DESCRIPTION.
For
fVoii. XL.
$354,173
94
94
94
1883-84...-«■
-(V. 38, p. 350, 388, 707; V. 40, p.
$106,304
338.844
49,720
334,673
89,881
121.)
Portland A Rochester.—Owns from Portland, Me., to Roches¬
ter, N. H., 53 miles. The old company was put in the hands of a
Receiver February, 1877. Foreclosure suit was begun, but a settle¬
ment was made in 188 i by which all the old stock and bonds were con¬
verted into the stock of the new company. Gross earnings in 1883-84,
In 1882-83, gross, $197,940; net, $20,475.
Portland Saco A Portsmouth.--Portland, Me., to Portsmouth,
town, Ohio, 68 miles; branch line to Newcastle, Pa., 2 miles; total, 70
miles. Leased from Jan. 1,1884, for 99 years, the Pittsburg McKeesport N. H., 51 miles. It was leased May 4,1871, to the Eastern Railroad,
A Youghiogheny RR , from Pittsburg to New Haven, Pa., 57 miles, with Mass., at 10 per cent bn stock. Lease rental changed May 21, 1877,
branohes, 5 miles. Scrip certificates for $615,000, bearing 6 per cent and now 6 per cent. No debt.
Interest and payable at will, are also outstanding. Under same auspices
Portsmouth A Rover.—Portsmouth, N. H., to Dover, N. H., 11
M Lake Shore A Michigan Southern.
Gross earnings in 1883, $1,402,- miles. Opened February 1, 1874, and leased for 50 years to Eastern
763; net, $583,004. In 1884 gross, $1,193,521; net, $368,226. (V. 38, of New Hampshire at 6 per cent per annum on the stock. Operated
now by Eastern (Mass.)
Frank Jones, President, Portsmouth, N. H.
p. 80, 293 ; V. 39, p. 182,654; V. 40, p. 91.)
Portsmouth Great Falls A Conway.—Owns from Conway
Pittsburg McKeesport A IToughlogheny.—Owns from Pitts¬
burg to New Haven, Pa., 57 miles; branches, 5 miles; total, 62 miles. Junction, Me., to North Conway, N. H., 73 miles. The Eastern Railroad
Road opened Nov., 1883, and leased to Pittsb.& Lake Erie RR. for 99 in Massachusetts has made a lease of the road for 60 years from Dec. 1,
years, 8 per cent on the $3,000,00J stock and interest on the bonds being 1878, with a guaranteed rental of $45,000 a year, which pays 4^ per
cent on $1,000,000 bonds, and the stock is to receive the same dividends
Suar.
Erie
by P. & L. Pa.
as the stock of the lessees.
Total stock, $1,150,300, of which lessees
ent, Pittsburg,
Pittsburg Virginia A Charleston.—From Birmingham, Pa., to own $551,300.
Uniontown, Pa., 70 miles. The stock is $1,504,500. The bonds, $2,000,Poughkeepsie Hartford A Boston.—Owns from Poughkeep¬
000, besides $208,100 debt certificates, and of the stock $1,251,050, sie, N. Y., to Stissing, and branches to Pine Plains and State Line, 47
are owned by the Penn. RR.
Net earnings in 1883, $316,466, against miles. The Pough. & East. RR. was sold in foreclosure May 15,1875.
This road was sold in forech sure Jan. 26, ’8 4, under the second mort., and
$141,245 in 1882. Dividend of $1 50 per share paid in March, 1835.
purchased in two sections. (V. 38, p. 149.) The first mort. bonds are
Pittsburg A Western,—Owns from Alleghany City, Pa., to New
$24,000; second mort., $500,000. The stock is $850,000. In 1883-4, gross
Castle, Pa., 64 miles; Callery Junction to Kane, 126 miles; Duck Run
earnings, $47,803; net, $6,560. In 1882-83, gross, $57,712; net, $10,350.
Pittsburg; A Lake Erie.—Owns
from Pittsburg, Pa. to Youngs
and Lake Sh. & M. So. Cos. W. C. Quincey, Presf-
Branch, 6 miles; Clarion Branch,
total, 208 miles.
6 miles; Saw Mill branches, 6 miles;
In July, 1884, leased the Pittsb.
Cleveland* Toledo
This was a consolidation of seyeral roads, dated June
15, 1881, and in 1883 Pittsburg Bradford & Buffalo was acquired. The
mortgage was executed Oct. 1, 1881, to the Mercantile Trust Co.,
covering the projected lines. In July, 1884, leased the Pittsb. Cleveland
for 99 years.
G. P. Pelton,
President, Poughkeepsie, N. Y.
(V. 38, p. 149.)
Providence A Springfield.—Providence, R. I., to Pascoag, 23
miles. It is proposed to extend the road to Springfield, Mass., 80
Stock is $516,850. In 1882-83, gross earniugs. $96,24L; net, $27,298.
In 1883-81, gross earnings, $93,240; net, $34,354; interest, $34 308.
iniles.
apwl,
Subscribers will confer a great favor
DESCRIPTION.
For
explanation of column headings, Ac., see notes
on first page of tables.
1188706--93224.
66
Debentures
Lancaster A Reading, 1st mortgage
Rensselaer A Saratoga—Stock
1st mortgage, consolidated (for $2,000,000)
Richmond A Alleghany—1st mortgage, gold
Debenture mortgage
*98
97
40
40
....
15
193
79
250
250
Second mortgage, gold ($4,000,000)
Car trust bonds (payable $19,860 per year)
Richmond A Danville—Stock
3d mortgage, (consol, of 1867) coup, or reg
General mort., gold (for $6,000,000)
756
141
141
bonds, cumulative
....
48
29
38
branch, 1st mortgage—
Northwestern. N. C., 1st mort., guar..
Richmond York River A Ches., 1 st mortgage
do
' do
2d mortgage
38
Rich’d Iredeincksburg A Potomac—Bonds, ster
Dollar loan
• •
•
•
• •
•
•
Coupon bonds of 1890
Coupon bonds of 1901
Amount
Outstanding
$100
1877
Rate per 1 When Where
Cent.
Payable
1873
1862
1864
1877
1873
....
1871
1880
1881
Pa senger
Miles.
Mileage.
66
19,977,254
66
20,585,077
51
20,757,058
-(V. 39, p. 653.)
fears.
..
..
100 Ac.
100
1,000
1,000
1,000
2,964,000
105,000
5,000,000
1,231,100
4,018,000
3,969.000
500,000
ioo
....
1867
1874
1882
1868
1873
1873
1880
100 Ac.
*
*
*
1870
1875
1885
*
Freight (ton)
Gross
21,596,079
1,136,633
Mileage.
Income.
25,023,982 $1,147,514
23,174,410 1,158,394
-
Net
Miles.
97
97
97
97
97
Years.
Bonds—Princi¬
pal,^When Due*.
Payable, and by
Whom.
Stocks—Last
Dividend.
J.
8
6 A 7
7
J.
500 Ac.
100
Div
Net
107,185
78,937
53,3b4
99,294
Operations and earnings for
follows:
Div.
Miles.
Mileage.
Mileage.
Earnings, p.c.
Earnings.
193
28,378,001
65,388,489 $2,104,596 $828,908
8
193
29,612,425
68,780,201
2,149,043
764,587
8
1383-84. 193
70,330,754
30,286,267
2,136,356
707,333
8
-(V. 39, p. 581.)
Richmond Sc Alleghany.—Owns from Richmond to Clifton Forge,
230miie8; branch to Lexington, 21 miles; leased, Lorraine to Hungary,
11 miles; total, 262 miles. The company was chartered February
27, 1879, and acquired by purchase the properties and franchises
of
the
James
River
Canal Company, and the
A
Kanawha
Buchanan A Clifton Forge Railway Company, including water rights
on
James River and terminals in Richmond; the cost of these in
stock and cash was $6,588,609. The main line, Richmond to William¬
son’s, was completed Sept. 12, 1881. In June, 1881, it was voted to con¬
solidate with the Ohio Central Railroad and connection was to be made
with the River Division of that road. Subscriptions to l>onds on this
basis were also made, but the consolidation was never perfected.
A plan of reorganization proposed was given in the Chronicle, V. 40,
p, 152. ■
The stock is $5,000,000, and the 2d mortgage bonds for $4,000,000,
though not all reported as sold, are understood to have been pledged to
a considerable extent for loans.
In May, 1883, default on the mort¬
gage interest was made, and on June 23 receivers were appointed.
The report for 1883-4 was published in the Chronicle, Y. 40, p. 452.
Gross and net earnings for three years ending Sept. 30 were as follows:
1882.
1883
1884
Gross earnings
$548,658
$635,327
$604,083
395,495
406,900
420,104
Operating expenses
$183,979
—(V. 38, p. 178, 301, 350; V. 39, p. 297; V. 40, p. 94, 152, 452.)
Richmond Sc
Danville.—(See Map.)—Line of Road.—The
main line is from Richmond, Va., to Danville, Va., 141 miles; branches,
12 miles; Danville, Va., to Greensboro, N. C., 47 miles; Salem Junction
to Salem, 25 miles; leased: West Point, Va., to Richmond, 38 miles;
Goldsboro, N. C., to Charlotte, 223 miles; Charlotte, N. C., to Atlanta*
269 miles, and narrow-gauge branches, 70 miles; total owned and
leased, 825 miles, of which 756 miles are operated directly by the Rich¬
mond A Danville Co. and the earnings based thereon, and 69 miles,
mostly of the Atl. & Ch. narrow-gauge branches, are reported separately.
By ownership of a majority of the stocK of the Richmond A West
Point Terminal Railway A Warehouse Company, the Richmond & Dan¬
ville Railroad Company indirectly controls and operates the following
lines of railway: Charlotte Columbia A Augusta, 191 miles; Columbia
& Greenville, 197 miles; Chester & Lenoir RR. (n. g.), 90 miles; Chester
& Cheraw (n. g.), 29 miles; Atlantic Term. & Ohio RR., 47 miles; Laurens
8
6
15,000,000
2,600,000
5,000
Earnings
$85,750
$228,427
A
2*2
50,000
276,000
miles.
It was a consolidation of several lines, and the Delaware &
Hudson Canal Co. leased the whole March 1,1871, at a rental of 8 per
cent on the stock and 7 per cent on the bonds.
In the fiscal year end¬
ing Sept. 30,1884, the payments by the lessee company for rentals were
$153,163
J.
O.
0.
0.
J.
N.
J.
J.
J.
N.
J
0.
N.
1,000
Gross
Net
A
A
A
A
A
A
A
A
A
A
A
A
A
Providence, Office.
do
Jan.
Phila.,Pa.,A Ral’gli,N.C.
Phila., Co.’s Office.
do
do
do
1, 1885-
1897
do
do
do
do
N.
Y., Nat. B’k Com’rce.
N.Y., Del.A H.Canal Co.
N. Y., No. 2 WaH Street.
Jan., 1898
1912
June 1, 1904
Dec. 1, 1917
July 1, 1893
Jan. 1, 1885
Mch. 1,
Nov., 1921
July 1, 1920
do
do
May 1, 1916
Yearly to 1900
N. Y., Met. Nat. Bk.
Aug. 15, 1882
Q.-F.
M A N. N. Y., Central Trust Co. May 1,’85 A’90
1,009,300
•
Earnings.
$234,511
Gross
J.
S.
D.
D.
J.
J.
N.
J.
N.
100
•
Saratoga.—Owns from Albany to Lake Chanr
plain, N. Y., 79 miles; Troy to Waterford Junction, N. Y.. 6 miles•
Whitehall. N.Y., to Castleton, Vt., 14 miles; Eagle Bridge to Rutland,
Vt., 62 miles; other, 2 miles; leased: Ballston to Schenectady, 15
miles; Fort Edward to Caldwell, 15 miles; total operated, 193
Freight (ton)
A
A
A
A
A
A
A
A
A
5, 6, 7
•
Sc
Passenger
J.
M.
J.
J.
J.
J.
M
J.
M.
2
6
6 g.
6
8
6
8
6
6 g.
400,000
58,216
1,000
Reading Sc Columbia.—Owns from Columbia to Sinking Springs,
Pa., 40 miles; branches, 8 miles; Lancaster & Reading Railroad,
leased, 15 miles; total operated, 63 miles.
Stock, $958,268. The
road is controlled and operated by Philadelphia & Reading, but
accounts kept separate.
The first rnort. 7 per cent bonds due 1882
were extended 30 years at 5 per cent, and the 2d 7s due 1884 were ex¬
tended twenty years at 5 per cent. Gross earnings in 1882-83, $456,459; net earn’gs, $133,421; 1883-84, gross, $394,819; net, $53,838.
$756,168, leaving a deficit of $48,834.
8
5
5
6
7
4
7
7 g.
S*
500,000
400,000
1,000
Income,
p. c.
$302,799
6
322,330
6
274,832
6
242,478
264,410
439,785
446,951
J. A J.
A. A O.
309,594
150,000
300,000
1.000
•
25
25
25
3
6
J.
A.
A.
A.
J.
M.
J.
J.
J.
M.
J.
A.
M.
1,000
1,000
1,000
Raleigh Sz Gaston.—From Raleigh to Weldon, N. C.. 97 milesStock, $1,500,000. In October, 1884, 3 percent dividend paid. John M.
Robinson, Pres’t, Baltimore; Earnings for live years were as follows:
earnings
350,000
1,600,000
350,000
6,854,100
1,925,000
4,925,000
1,000
Raleigh Sc Augusta.—Owns from Raleigh, N. 0., to Hamlet, N. C.,
by Raleigh &
Years.
1,873,000
1,000,000
650,000
lOOAo.
1.000
98 miles. Formerly Chatham Railroad, and is controlled
Gaston. Earnings 1881-82. $222,354; net, $53,336.
three years past were as
1.242.000
1,000
Providence Sc Worcester.—Owns from Providence, R. L, to
jiVorcester, Mass., 44 miles; branches, 7 miles; total operated, 51 miles.
Notes payable are $512,300. Operanons and earn, for three years were:
Rensselaer
$2,500,000
....
....
1st mortgage, coupon
Consol, mortgage
Richmond A West Pt. Ter. R. A TF. Co.—Stock
Trust notes, secured by collateral
discovered in these Tables.
INTEREST OR DIVIDENDS.
....
Richmond A Petersburg—Stock
Net
any error
.
Raleigh A Augusta—Stock ($1,000,000 pref.)
Raleigh A Gaston— 1st mortgage..
Reading A Columbia— 1st mort, coup, (extended)..
2d mortgage, coupon (extended in 1884)
18-32.
by giving immediate notice of
Miles
Date
Size, or
of
of
Par
Road. Bonds Value.
Providence A Worcester—Stock
New bonds
Piedmont
73
RAILROAD STOCKS AND BONDS.
1885.j
1915
do
do
do
do
do
do
Richmond.
do
do
London.
April 1, 1927
1888
1902
1894
1890
1885
1895-’99 1902
Richmond, Office.
1890
Phil.Townsend W.A Co.
1901
Richmond, Office.
Jan. 1, 1885Richmond, Office.
do
do
1886
do
do
May 1, 1915
N.Y. Central Trust Co.
Jan., 1887
Railway 31 miles; Knoxville & Augusta RR., 16 miles; Richm. A Meek.
Railroad, 31 miles; Spartanburg Union A Columbia 68 miles; Northeast¬
of Georgia, 61 miles; Western North Carolina Railroad, 274 miles;
Asheville & Spartanburg, 50 miles; Virginia Midland Railway, 405 :
miles; Georgia Pacific, 313 miles; total miles thus indirectly controlled
through R. & W. Pt. Ter’l R. W. Co., 1,804 miles, of which in Nov., ’83,
110 miles were under construction; grand total of miles directly ana
Indirectly controlled by Richm. & Danville RR. Co., 2,629.
Organization, Leases, Ac.—The Richmond A Danville RR. Co. was
chartered March 9,1847.
Dm Piedmont RR. is virtually owned and thD
Northwestern North Carolina is also owned. The Rich. York R. A Chesa¬
peake is leased in perpetuity; the terms of the North Carolina RR.
and the Atlanta A Charlotte Air Line leases will be found under the
names of those companies.
The Richmond A West Point Terminal Rail¬
way A Warehouse Co. (see title of that company below) is an auxiliary
corporation in which the Richmond A Danville holds a majority
($7,510,000) of the stock. The Richmond A Danville Extension Co.
was organized to build Georgia Pacific RR., and large advances were
made to it by the Richmond A West Point Terminal Co.
Stock and Bonds.—The old stock and bonds of the Richmond A Dau
ville Co. have not been greatly increased in its expansion of late years.
In April, 1882, $1,000,000 stock was issued for $5,000,000 of the Ter¬
minal Co. stock. The capital stock is $5,000,000, and the first dividend
(3 per cent) was paid in January, 1881. The total dividends in 1881
were 5 per cent; in 1882, 7 per cent: none since.
The stock was listed on the New York Board in Oct., 1881. The high¬
est and lowest prices since then have been : In 1881 (3 months), 99^®
171: in 1882, 52®250; in 1883, 47®72; in 1884, 32361; in 1885 to
April 18, 4478®54.
The total authorized issue of general mortgage bonds is $6,000,000,
of which part is reserved to take up prior liens, including debt to*
ern
State of Virginia and
debenture bonds were
the Piedmont RR. bonds.
Early in 1882 the
sold to Richmond A Danville stockholders at
45, and semi-annual interest was paid on these bonds up to April, 1883,
inclusive. The interest on the bonds is strictly cumulative and they
carry interest from April, 1883, say 12 per cent April, 1885. (See Chron¬
icle, V. 37, p. 373 and 421.) For the year ending Sept. 30, 1884, the
report shows earnings sufficient for the debentures, but none was paid
during that year, and the amount accrued is $357,310, or 9 per cent.
The annual report for the year ending Sept. 30,1884, was published
in the Chronicle, V. 39, p. 679, containing the following:
.
1882-83
,,
1883-84
Gross earn’gs. Expens. Gross earn’gs. Expens.
Rich. A Dan. and Pied....$1,554,041
$745,499 $1,575,571 $761,748
Rich. York Riv. A Ches...
249,826
151,280
239,727
117,631
North Carolina
616,572
866,626
860,110
593,303
Northwest. N. C
67,799
28,659
75,827
25,958
Atl. A Char. Air-Line
676,843 1,042,631
703,901
1,074,015
.
$3,805,791 $2,218,853 $3,800,382 $2,202,541
The ratio of
working
expenses was
per cent in 1883-4.
The income account in the
58*3 per cent in 1882-3 and 57-95
past three years was briefly as follows :
1882-3.
1881-2.
1883-4.
$1,29?,035
$1,586,937
$1,597,841
19,517
Total net revenue for the year $1,873,805
Amount total interest on fund¬
ed and floating debt, incl’d’g
debentures and rentals of
$1,605,250
$1,617,358
Net earnings
*575,770
Rec’d from int. on investments
leased lines
Miscellaneous
Total
Balance net rev.
over
3 8,319
1,317,929
1,492,700
1,478,530
2,378
$1,317,929
$1,492,700
f$ 112,556
$1,480,908
f$136,450
all digs.
$555,876
*
Includes premium on bonds.
t The int. cliargeon debent’s is
included here in full, but itwas not paid.
-(V. 38, p. 88, 116. 203, 425, 480. 541, 572; V. 39, p. 679.)
Richmond. Fredericksburg Sc Potomac,—Owns from Rich¬
mond, Va., to Quantico, 82 miles. In November, 1881, there were
voted dividend certificates for $755,039 to be issued tc holders of com¬
mon stock (70 per cent on each share), to represent money spent on
the property out of earnings. The common stock is $1,030, 100; guar¬
anteed stock, $500,400 (6 per cent except $19,000 guar. 7 per cent), and
“dividend obligations’’ $762,200. In April, 1884, the Va. Court of
Appeals decided that the guaranteed stock had a claim for “dividend
obligations” like those issued to common stock holders, and litigation is
pending. In year ending Sept. 30, 1884, gross earnings were $471,705 ;
net, $181,165; interest aud guaranteed dividend charges, $88,923:
balance net surplus, $92,942. (V. 38, p. 447; V. 39, p. 581.)
Richmond Sc Petersburg.—Owns from Richmond to Petersburg.
Va.. 23 miles; branch, 2 miles; total, 25 miles. The road has earned
In 1883-84
moderate dividends and the debt account is very small.
In 1882-83, gross, $182,821;
gross earnings, $195,369; net, $87,069.
net, $78,245.
Richmond Sc
& Wareby an act of the Legisla¬
auxiliary corporation of
Danville RR. Co., controlling several stocks by ownWest
Point Terminal Railway
house Co.—This company was incorporated
ture of Virginia of March 8,1880. It is the
the Richmond A
RAILOD
STOCKS
AND
BONDS.
[VoL.
XL.
Apkil,
Subscribers will confer a great favor
explanation of eolumu headings, &e., see
on first pag* of tables.
Date
Size, or
Par
of
Road. Bonds Value.
notes
Grande d Pecos— 1st M.. gold ($20,000 p. m.)...
Rochester d Genessee Talley— Stock
Rochester d Pittsburg.—1st mortgage
Consol, mortgage,
mortgage
2d consolidated mortgage (for $4,000,000)
5 per ct.).
Hastings & Grand Island, 1st mort
Alton d Terre Haute—Stock
Pref. st’ek (7 cumulative)
1884
m
m
•
45
120
120
Syracuse Northern (gold)
Rutland—General mort. (8 per ceut, reduced to 6>..
New 2d mort. in excli. for equipment bonds, <fec.
Sabine Pass d Texas North— 1st M. ($3,500,000) .
Sacramento d Placerville -1st mortgage (S. V. RR.).
1st mortgage (S. & P. RR.)
Saginaw valley d St. Lou is.—1st mortg., coup
St. Johnsbury d-L. Champlain—1st M.,coup. orreg.
Consolidated mortgage (for $1,000,000)
St. Joseph d St. Louis— Stock.
St. Joseph d Western— 1st M. St. Joseph & Pacific..
St. Louis
1882
1881
91
91
417
97
190
190
409
bonds
2d mortgage
Kansas & Nebraska, 1st mortgage
Kansas & Nebraska, 2d mortgage
1881
258
_
-
^
m
—
n
m
m
48
29
120
«...
'
76
112
112
115
115
25
331
331
•
•
•
1878
•
•
•
•
1855
1861
1872
1874
1882
1871
1872
1878
1882
1855
1877
1872
1880
1884
«.
•
•
•
1876
1876
-1876
1876
•
•
•
*
*
*
$500,000
1,000
552,200
1,300,000
1,000
1,000
3,860,000
478,000
1,000
1,000
2,615,000
•
•
•'
25,000
100
100 &c.
500 &c.
1,000
1,000
1,000
1,000
100 &c.
100 &c.
•
•
•
•
1,000
1,000
1,000
1,000
1,000
100
100 &c.
....
100 &c.
1,000
*
Outstanding
100
•
•
Amount
$1,000
•
_
Var's
1st mortgage
Rome Watertown d Ogdensburg— Stock
1st sinking fund mort., Wat.
R. (extended).....
Consol, mort., (extended July, 1882, at
1882
258
series
General mortgage, sinking fund
2d mortgage
31
18
108
....
Income
Income
75
BONDS.
by giving Immediate notice of any error discovered in these
Miles
of
Bio
Equipment bonds (car trust) in 3
Rock, Island d Peoria—Stock
AND
Tables.
INTEREST OR DIVIDENDS.
DESCRIPTION.
For
STOCKS
RAILROAD
1885.]
100
100
ership of a majority, the total miles of road thus controlled being 1,808.
In April, 1882, the stock was increased from $5,000,000 to $15,000,000,
the old stock holders taking two new shares at $25 per share for each
old share owned. The Richmond & Danville Co. owns $7,510,000 ol
this stock. The report lor 1884 showed that the R. & W. P. T. R.
& W. Co. owned these stocks, viz.: $2,607,150 Richmond & Danville
Extension Co., $120,000 Northeastern Railroad of Georgia, $3,168,300
Western North Carolina RR. common and $3,168,300 pref.; $100,000
Knoxville & Augusta RR., $1,302,400 Charlotte Columbia & Augusta
RR., $3,577,333 Virginia Midland Railway, $1,001,000 Columbia &
Greenville RR., $49X00 Dan. Mock. & So. W. RR.. $300,000 Richmond
& Mecklenburg Railroad. $103,900 Rabun Gap Short Line, $85,90<',
Terminal stock, $3,133,980 Georgia Pacific Railroad; and the fol¬
i
684,000
1,500,000
150,000
5,293,900
418,100
1,021,500
1,000,000
4,929,000
1,677,335
500,000
1,500,000
1,500,000
(?)
400,000
700,000
446,000
600,000
400,Oi 0
923,000
1,900,000
1,200,000
1,900,000
1,200,000
375,000
2,300,000
2,468,400
Years.
1881-82
1882-83
1883 84
Rate per
When
Cent.
Payabh
6 g.
3
6
6
6
6
7
2*3
10
3
6
7
7
5
7
7
6
5
6
Where
Payable, and by
WTioiu.
J. & D N.Y., Mercantile Tr.Co.
J. & J. N.Y.,by N.Y L.E.&W.Co
F. & A. N. Y., Union Trust Co.
do
do
J. & D.
do
do
F. & A.
do
do
do
do
Various
J. & D.
J. & J. N. Y., Corn Exch. Bank.
J. & J. N. Y., Central Trust Co.
do
do
M. & S.
do
do
J. & D.
do
do
J. & J.
do
do
4. & 0.
10
6
8
6 g.
5
3
7
7
7
7
&
&
&
&
&
&
&
&
J.
N.
A.
J.
J.
J.
N.
O.
Q.-J.
J.
J.
J.
J.
J.
&
&
&
&
&
J.
J.
J.
J.
J.
pal.When Due.
Stocks—Last
Dividend
June 1, 1912
Jan. 1, 1885
Feb. 1, 1921
Dec. 1. 1922
1921
Feb. 1, 1924
Various.
Jan. 1, 1885
Jan. 1, 1900
July 15,1875
Sept. 1, 1910
Dec. 1. 1891
Jam 1, 1892
July 1, 1922
Ju’y 1, 1932
Jan’ry
J.
M.
F.
J.
J.
J.
M.
A.
Bo nds—Prinol-
N. Y., Farm. L. &
T. Co.
Bost..Columbian N. Bk.
do
do
London and New York.
N. Y. Central Pac. RR.
do
do
Bostou, C. Merriam, Tr.
Best., Am. L. & Tr. Co.
Boston.
New York.
do
do
do
do
July, 1901
Nov. 1, 1902
1898
Jan. 1, 1912
1875
1907
May 1, 1902
Oct.
Jan.
Jau.
Jau.
Jan.
1, 1915
1, 1905
1915
1, 1910
1,
....
’
4.io
N.Y.,Office 34NussauSt.
May 1, 1885
Miles.
Pass’r mile.
Fr’ht(ton)mile. Gross rec’ts. Net rec’ts
417
417
418
19,223,584
18,872,541
20,079,247
$1,814,495 $401,581
1,694,231
300.723
1.716,525
563.776
V. 39, p. 265, 655, 705 ; Vol. 40, p. 29,
—(V. 38, p 149. 510, 680. 738 ;
54,470,111
55,834,358
61,220,005
305 338 482.)
Rutland.—Owns from Bellow’s Falls, Vt., to Burlington,
61. 214. 281
1, 1910
April 1. 1914
April, 1884
Jan. 1, 1905
Vt., 120
miles; leases Addison RR., 15 miles; total, 135 miles. This road has been
through many changes. It was leased to the Cent. Vermont in Dec., 1870,
for 20 years, but the lessee became insolvent, and finally a modification
of the lease wTas made, giving $250,000 per year as a minimum rental
and $8,000 for organization expenses. The bondholders agreed to accept
5 per cent bonds in exchange for equipments and 6 per cent bonds in lieu
of 8 per cents. The 5 percent 2ds are a first mortgage on rolling stock
and personal property.
The common stock is $2,480,600 and preferred
$4,000,000. During the year 1883-4 the floating debt was wiped out
and one per cent dividend paid on preferred stock in August. (V. 40, p.
lowing bonds: $100,000 Knoxville & Augusta 1st mortgage 6 per cents,
$368,000 Spartanburg
Asheville 1st mortgage 6 per cents, $1,325,000
Western North Carolina 1st mortgage and $4,110,000 2d mortgage.
$1,603,553 Virginia Midland 6 per cent Acc. Incomes, $315,000
Northeastern or Georgia general mortg., $1,828,156; Georgia Pacific 94.)
Sabine Pass Ac Texas Nortli.—Line of road, Marshall, Tex., to
2d incomes, and $309,200 Blue Ridge Rli. and miscellaneous county and
Sabine Pass, Gulf of Mexico, 218 miles.
Road under construction.
township bonds, and $28,900 subscriptions. In Jan., 1883, the above
Stock. $4,000,000. R. H. Parks, President, New York.
trust notes were issued at 90, secured by a deposit of stocks and bonds
Sacramento Ac Placerville.—Owns from Sacramento, Cal., to
as collateral, and were taken up and renewed Jan. 1885.
(V. 40, p. 29.)
Rio Grande Ac Pecos.—Projected from Laredo, Texas, to Brazos Shingle Springs, Cal., 48 miles. This was a consolidation of the Sacra¬
mento Valley and the Folsom & Placerville railroads, April 19, 1877.
Santiago, 251 miles. Completed from Laredo on Rio Grande River, to
Santa Tomas, 27 miles, to the company’s coal lauds of 20,000 acres. Capital stock, $1,756,000. Gross earnings. 1883. $121,905; net. $45,738,
deficit over charges. $19,250. Gross, 1882, $96,531; net, $11,106;
Mortgage issued at $16,000 per mile. Narrow *,auge. Interest not
deficit,
$43,283. Lelaud Stanford, President, San Francisco.
paid. A. C. Hunt. President,Laredo, Texas.
Saginaw Valley Ac St. Louis.—Owns from Saginaw to St. Louis
Rochester Ac Genessee Valley.—Owns from Avon to Rochester.
Opened January, 1873. Capital
N. Y., 18 miles. This road was leased July 1, 1871, in perpetuity, to and Alma to Ithaca, Mich., 35 miles.
Erie Railway, and now operated by New York Lake Erie «& Western. stock, $264,804. In 1882, gross earnings were $109,328 ; net $35,225.
In
1883, gross, $109,729 ; net, $22,438; interest payments, &c., $35,680.
Rental, $34,012. James Brackett, President, Rochester, N. Y.
In July, 1879, management was transferred to the Detroit Lans. & No.
Rochester Ac Pittsburg.—Owns from Rochester, New York,
St. Jolinsbury Ac Lake Champlain.—Owns from Lunenburg,
southward to Puuxutawney in Pa., 204 miles (except 36 miles of this
leased); and Buffalo Branch from Ashford June, to Buffalo, 44 miles; Vt., to Maquam Bay, on Lake Champlain, 120 miles. This was the
Ogdensburg, Vermout Division, and was reorganized
total, 248 miles. Leased. 46 miles. Total operated, 294 miles. Formerly Portland
under this title in 1880. Preferred stock, $1,298,500; common stock,
Rochester
State Line.
In March, 1884. voted to issue the consolidated bonds, of
In December, 1884. a statement of the various issues of bonds $2,550,000.
which $600,000 are reserved to take up its first mortgage bonds. • In
was made as follows: The new 2d consol, mortgage is for $4,000,000,
of which $1,200,000 were reserved for extension of terminal facili¬ 1881-82, income. $242,662 gross and $43,166 net. In 1882-S3 gross,
ties in city of Buffalo, aLd have not been issued.
Of the balance $268,966. In 1883-84 gross, $290,470; net, $61,827. (V. 38, p.379;
of $2,i00,000 there were 6old $1,132,500; there weie pledged as V. 39, p. 210.)
collateral security for loans $1,482,500. The balance, $185,000, have
St. Joseph Ac St. Louis.—St. Joseph, Mo., to No. Lexington, Mo.,
not been issued.
The amount out.-funding is therefore $2,615,000. 76 miles. Present company is successor to the St. Louis <ft St. Joseph
The Union Trust Co. is trustee and bonds and coupons are payable Railroad, sold in foreclosure February 8, 1874. The St. Louis Kansas
there. The old income bonds were $1,870,000, of which the Union City & Northern took a lease of the road for 99 years July 1, 1874.
Trust Co. holds $1,392,000 as collateral security for 1st consols, leaving The terms of the lease are au annual payment of 30 per cent of gross
’ '
$478,000 outstanding. They are same date as 1st mortgage. Of the earnings, but $25,000 guaranteed.
St. Joseph Ac Western.—Line of Road—East Division—West St.
$3,860,000 1st consols, the Union Tiust Company holds $239,000, to be
issued when the remaining incomes are surrendered.
Joseph, Kan., to Marysville, Kan, 112 miles; West Division—Marys¬
Owing to great competition and cutting of rates on coal business, the ville, Kan., to Hastings, Neb., 115 miles; Hastings & Grand Island
earnings fell off in 1883-84, and the company defaulted on the interest road, 25 miles ; total, 252 miles. This is a reorganization of the former
due August 1, 1884, on the second mortgage bonds. The plan of relief
St. Joseph & Denver City road, wilieh was sold in foreclosure in
proposed by the officers of the company Oct. 20,1884, was not adopted, November, 1875. On the foreclosure of the two divisions two com¬
and foreclosure is pending. For year ending Sept. 30, 1884, gross earn¬ panies were organized, the St. Joseph & Pacific and the Kansas
ings were $1,669,932; net. $278,968; rentals, $56,600; interest, taxes. 6 Nebraska, with bonds as above. These were consolidated as St.
&c., in full, $431,549, deficit, after paying all annual charges, $209,181, Joseph & Western; the stock is $4,100,000, par $100. The present
For the quarter ending Dec. 31, 1884, gross earnings were $311,947,
bonds have no lien on lands, as the land grant of 300,000 acres was
against $252,615 in le83; net, $109,314, against $55,566. (V. 38, p. put in hands of trustees for the benefit of the holders of the old land
29, 541, 620; V. 39, p. 11, 72, 158, 225, 265, 297, 382, 454, 494, 555,
scrip of $2,250,000. The road is controlled by the Union Pacific and
the coupons on bonds are not paid. The U. P. holds $1,536,200 of the
581, 655, 674, 705, 707; V. 40, p. 29, 241.)
Rock Island Ac Peoria,—Owns from Rock Island, Ill., to Peoria, stock of $4,100,000, $1,303,369 8t. Joseph <fe Pacific 1st mortgage,
Kansas & Nebraska 1st mortgage, and the entire Hastings
III., 91 miles. This was the Peoria & Rock Island, sold in foreclosure $1,114,661
& Grand Island issue.
In 1883 gross earuiugs $1,044,854; net, $232,April 4, 1877, the bondholders becoming the purchasers. Gross earnings 512. In
1884, gross. $1,217,400; net, 205,332. In January, 1884, fore¬
1882, $405,263; net earnings, $64,918, out of whieii,5 per cent dividend
closure suit was begun on the first mortgage.
was paid on the stock. Gross earnings in 1883, $354,897; net, $107,048,
Iu March, 1885, a proposal for adjustment of finances was made aa
out of which 4 per cent dividends paid.Rome Watertoivn Ac Ogdensburg,— Owns from Rome to per circular in V. 40, p. 338, by which the new issues wouM he $7,000,-'
000 6 per cent first mortgage bonds, guaranteed by the Union Pacific,
Ogdensburg, 141 miles; branches: To Cape Vincent, 24 miles; to Pots¬
income bonds, and new stock, $4,600,000, to he
dam, 24 miles; Oswego to Lewiston, 146 miles; Sandy Creek to Syracuse, $1,680,000 5aspercent stated.
there
(V. 38, p. 62, 80, 764; V. 39, p. 545, 655;
45 miles; leased Oswego «& Rome RR.,29 miles; Niagara Falls Br. RR., 8 distributed
miles ; total owned, leased and operated, 417 miles. It was a consolida¬ V. 40, p. 305, 338.)
St. Louis Alton Ac Terre Haute.—Owns from Terre Haute,
tion Oct., 1861, of the Watert’n & Rome and the Potsdam & Watertown
Ind., to East St. Louis, 193 miles; proprietary line, East St. Louis to
railroads. The Lake Ontario Shore Railroad was acquired January 15,
1875; the Syracuse Northern, August 1, 1875. The Oswego & Rome was Bellevile, 15; leased lines—Belleville & Southern Ill. RR., 56; Belleville
leased January 1, 1866, at 8 per cent on stock and interest on bonds. & Eldorado road, from Du Quoiu to Eldorado, 50; Bellev. & Car. RR'.,
The Niagara Falls Br. road was leased Nov. 1, 1881, at 7 per cent on its from Belleville to E Carondelet, 17; total, 331 miles. This company was a
reorganization, Feb. 18, 1861, of the Terre Haute Alton «& St. Louis RR.
stock of $250,000.
The compauy wras in default on coupons of the consol, bonds after The Bellev. & So. Illinois is leased to this compauy for 999 years from Oct.
1,1866, and the Bellev & Car. for 983 years from Jan., 1883. The main
Apiil 1,1878, but afterward gave new sheets of coupons, 5 per cent line
(St.L. Altou & T. H.) was leased Nov. 1, 1882, to the new Indianap.
Interest; also funded the 33*4 per cent overdue interest (to July, 1882,)
& St. L. Railway and the C'leve. Col. Cin. & Indianapolis jointly. Under
into 7 per ceut income bonds also assessed 10 per cent cash on stock.
The present management of the company succeeded the management this new lease tne rent guaranteed is $450,000, and that amount Is all
which was identified with the Del. Lack. & West, interests. Charles that is to be paid unless the gross earnings exceed $1,750,000 in any
f arsons, New York, President. Fixed charges for interest and rentals year ending Oct. 31, and then 20 per cent is to be paid of the excess of
gross earnings over $1,750,000.
for year are $489 541.
This company, in July, 1882, obtaiued a decision in its favor against
For five mouths from Oct. 1, 1884, gross earnings were $680,001,
the two solvent lessee companies for $221,624 against each. An appeal
against $645,371 in 1883-4; net, $209,373, against $176,411 in 1883-4. to the United States
Supreme Court is pending. The Belleville Branch
For year ending Sept. 30, 1884, interest and rentals were $522,269,
other payments, $14,826; surplus, $26,684. Operations and earnings and Extension are operated separately by this company, and earned
for three years past were:
i net in 1881, $159,907; in 1882, $238,930; in 1883, $205,935. The
.
KA1LR0AD
76
Subscribers will confer a
great favor by giving
explanation of column headings,
on first page of tables.
&c., see notes
■St. Louis Alton <£ Terre Haute—(Continued)—
1 n4/aomoa
A \ ainlnner
H
►»**
1st mortgage (series A) sinking
®*° g
1st mortgage (series B) sinking
•a,d ®
2d mortgage, preferred (series C)
2d mortgage, preferred (series
2d mortgage, income
.
fund.. j§
fund..
D)
Date
Size, or
Par
of
Road. Bonds Value.
207
207
207
207
_
cumul...
cumulative)
p. m.)
($12,000 p.m.)
pref.)
Income bonds(issued for dividend), not
Bt. Louis & Cairo— 1st M., income (not
SL Louis Ft. ScoUd Wichita—1st M. ($15,000
BL L. Han.d K— 1st M .conv. till ’87
SI. Louis Keokuk dc N. W. - Stock($l,350,000is
1st mortgage, gold
Income bonds
144
160
85
184
135
135
—
St.lLouis <1 San
Little Rock—1st mortgage
Francisco.—Stock, common
Preferred, 7 per cent, not cumulative
1st preferred, 7 per cent, not cumulative
1st mortgage (South
2d mortgage bonds,
do
do
do
do
*
Pacific), gold, (land grant)...
A
B, gold
C, gold
Equipment mortgage, gold
^Mortgage on Mo. & Western RR.,
Trust bonds
St. Louis Wichita & Western
Gen. M., gold, coup, or regja
gold
2d M.ou 293 miles)
St. Louis Vandalia <£ Terre Haute— 1st M. s. f. guar.
2dmort., sink, fund ($1,600,000 guar.)
*...
1864
1864
1864
1864
186 4
1870
1881
1881
1880
1877
84
100
145
179
158
158
Outstanding
1,000
1,000
1,700,000
500 &c.
300,000
1,000
1,000
1,000
100 &c.
1,000
1,000
1,000
1876
1876
1872
....
1868
1876
1876
1876
1880
1879
1880
1879
1881
1867
1868
500
100
500
500
1,357,000
2,600,000
2,483,000
916,931
2,700,000
1,620,000
1,080,000
1,000,000
10,500,000
10,000,000
4,500,000
&c.
&c.
7.144.500
500,000
&c.
2,766,500
2,400,000
&c.
731.000
1,000
1,000
1,000
1,095,000
1,350,000
2,000,000
7,739,000
1,899,000
2,600,000
1,000
1,000
1,000
1,1880, at a
guarant’d.
The Belleville Sc Carondelet is leased at $30,000 per annum.
Of the first mortg. bonds $636,000 are held in sinking fund ; of the
•equipment bonds $246,000 are owned by the company. The pre¬
ferred stock has a prior right to a cumulative dividend of 7 per cent
before any is declared on common. It is also convertible into com
anon at par; but shall not receive any dividend as common stock for the
filine it was held as preferred. In January, 1881, the company declared
3 per cent in cash on the preferred stock and afterward settled the recnaining 55 per cent of accum. dividends by the issue of income bonds,
;and has since paidthe7 percent. (V. 38,p.677.)
<St. Louis Sc Cairo.—1This road (3ft. gauge) extends from Cairo to East
«t. Jx>uis, 152 miles with a branch to High Prairie, 9 miles. The former
Cairo & St. Louis made default April 1, 1874, and was sold in foreclosure
.July. 1881, and bought in, in behalf of bondholders. Stock is $6,500,000,
3Hd 5 per cent interest was paid April 1,1883, on the bonds, and 3 per
•oent in 1884. Gross earnings in 1883-84, $375,784; net, $78,837 ; in
Rate per
Cent.
7
7
7
7
$1,100,000
1,100,000
1,400,000
1,400,000
500 Sec.
814
293
293
293
293
Amount
$1,000
Belleville Sc Eldorado was leased for 985 years from July
rental of 30 per cent on the gross earns., but $15,400 per year
tHjrest, $78,000;
discovered in these Tables.
Bonds—Princi¬
immediate notice of any error
Miles
of
o
Equipment mortgage
St. Louis Salem <£
[Vol. XL.
INTEREST OR
DESCRIPTION.
for
AND BONDS.
STOCKS
7
10
6
5 g.
7
7
J. & J. N.Y. Office,3 4 Nassau St
A. & O.
do,
do
do
do
F. & A.
do
do
M. Sc N.
do
do
M. & N.
do
do
M. & S.
do
do
June 1
A. & O. New York or London.
A. & O. New York, Moran Bros.
A. Sc O. Cedar Rapids, la., office.
April 1, 1902
N.Y., Union Trust Co.
•c«
3Lj
g.
g.
g.
g.
g.
g.
g.
Dividends have been
F.
J.
M.
M.
M.
J.
F.
F.
M.
J.
J.
M.
.
•
&
&
&
&
Sc
&
&
Sc
&
&
Sc
Sc
paid
A. N.
J.
N.
N.
N.
D.
Y., Company’s Office. Feb. 2, 1885
do
do
July, 1888
A.
A.
8.
J.
J. N. Y., Central
do
N.
on
Nov.
Nov.
Nov.
June
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
1.
1,
1.
1.
1906
1906
1906
1895
Aug. 1, 1919
1920
1919
1931
July 1
Trust Co.
do
first preferred stoek in
Jan. 1. 1897
May 1, 1898
1881 and since
at 7 per cent per annum.
The range of the stocks yearly
1878 (4 months), 5^®11%; in
„
•
since 1877 has been; First preferred in
1879, 9%®781a; in 1880, 60®100; in
in 1882, 79%®106i2; in 1883, 87®lOO^j; in 1884,
1881, 903)115^;
70@9612; in 1885 to April 18,
surplus, $837.
1, 1906
1, 1906
....
....
6
6
6
6
7
6
6
6
6
7
7
1894
1894
1894
1894
1894
1880
Jan. 1, 1894
1921
Oct. 1, 1910
Oct. 1, 1917
Jan.
Jan.
& J.
& J.
A. & O.
J.
J.
.
.
Stocks—Last
Dividend.
....
7 g.
7
7
.
pal,When Due.
Payable, and by
Whom.
Payable
....
.
DIVIDENDS.
Where
When
79*4®87L2.
preferred in 1878,
in 1879, 4*3® eo1^: in 1880, 33-®
65; in 1881, 55®8114; in 1882, 43®6*^; in 1883, 40®59*2; in 1884,
2412'3>50; in 1885 to April 18, 3Un®39%.
Common in 1878 (3 months;,
in 1879, 3*3 ®53; in 18 80, 25*4
®48; in 1881, 39®55; in 1882, 31® 46V. in 1883. 20^®36V inl884f
ll12®291i}; in 1885 to April 18, 18®21.
The interest on bonds “B” and “C” was 5 till 1884 and 6 after¬
ward. The trust bonds of 1880 are secured by deposit of 7 per cent
mortgage bonds of the St. Louis Arkansas & Texas RR. and Joplin RR.
The general mortgage of 1881 (supplemented by that of June, 18S2,
changing the rate of interest to 6 per cent) for $30,000,000 is made to
the United States Trust Company as trustee, and $17,261,000 reserved
to take up all prior debt.
Lands.—The South Pacific Railroad had a grant of lands by act of
Second
June 10, 1852, of 1,161,205 acres. The Atlantic & Pacific
Wichita.—From Fort Scott to Wichita, Congress
about 507,000 acres of land.
The South Paciflo lands
1883. Moran Brothers of New York received
showed
162,652
acres on hand January 1,1884. Atlantic Sc Pacific lands
and other capitalists, largely interested. Stock, $5,833,855. Gross earnshowed 1,631 acres on hand at same date, and for these lands
ingsin 1883, $286,712; net, $65,099.
(A. & P.) the second mortgage bonds, class B, are receivable in pay¬
St. Louis Hannibal Sc Keokuk.—Owns from Hannibal, Mo., ment. The land department assets are estimated as follows;
1883.
1882.
o Gilmore, on Wabash St. Louis & Pacific, 82 miles.
In 1883 acquired
1881.
control of Forest Park & Central Road, for entrance to St. Louis. Stock, Lands
$246,425
$891,961
$1,749,455
St. Louis Fort Scott Sc
Elan., 160 miles, completed July,
resident, Hannibal,
On Feb.
8,1884,
J. Case, W.
of Peoria,
Ill.,
f1,636,000.
Earnings Mo.
for 1883,
net,E.$6,623.
W. Walker,
$100,979;
was
appointed receiver, and up to
Jan., 1885, there had been issued
f170,000
of p.receiver’s
certificates. See Y. 38, p. 178.
23; V. 40,
61.)
(V. 38, p. 173,
from Keokuk,
Pleasant, 49 miles;
RR. was sold April
14, 1875, and this company organized July 1,1875. Road completed in
.-autumn of 1879.
Income bonds above were originally a part of
#2,700,000 first mortgage bonds, but by agreement they were changed
nto their present form. Gross earnings year 1882 $411,494; operating
expenses, $412,988; defloit, $1,494. Gross in 188 *, $536,912; expenses,
#437,772; net, $99,140. W. W. Baldwin, President, Burlington, la.
i‘St. Louis Salem Sc Little Rock. — Owns from Ouba, Mo.,
vfco Balem, Mo., 42 miles, and branches, 13 miles; also 17 miles of branches
^controlled; total operated, 72 miles. Reaches St. Louis by St. L. Sc San
F, RR. Stoek is $1,000,000. Earnings in 1883 on 54 miles were $93,
521; net. $49,983. In 1882, on 51 miles, $160,018 net, $102,057. A.
.•St. Louis Keokuk Sc Northwestern.—Owns
[&., to St. Peters, 135 miles; leased Keokuk to Mt.
total operated, 184 miles. The Miss. Val. & Western
Crawford, President, Newcastle, Pa.
San Francisco.—Line of Road—This considerable
<«ystem of railroads, forming part of a through route to the Pacific coast,
^requires a map to show it well. The main line is from St. Louis, Mo.,
rfco Seneca, 326 miles; branches—Granby branch, l1^ miles; Orongo,
L
St. Louis Sc
Joplin, 10 miles; Girard to Galena, Kan., 47 miles; Carbon
‘Branch, 3 miles; Peirce City to Wichita, Kan., 218 miles; Plymouth,
Mo., to
Springfield to Chadwick, Mo., 35
Pacific,
rniies, the
'Topeka & Santa Fe are also used from Wichita to Halstead, Kansas. 25
caiiles. This company also operates the finished portion of the Atlantic &
^Pacific road, Central Division, from Seneca, Mo., to Red Fork in the
3Io., to Fort
Smith Ark., 134Lj miles;
rmiles; total operated, 776 miles. The eastern terminus was at
Mo., till December, 1883, and from there to St. Louis, 37
•vfcracks of the Missouri Pacific wrere used. The tracks of the Atchison
.Indian Territory, 102
miles.
20, 1876, as
South
of Mo.,
Chartered Dec. 25,1852), which was consolidated with the Atlantic &
JPaoiflo road Oct. 25, 1870.
The Atlantic & Pacific was chartered by act of Congress July 27,1866,
and was authorized to construct a road on the 35th parallel to the Pacific
<€>oean. The Atlantic Sc Pacific leased the Pacific or Missouri July, 1872,
tuifc failed to pay the rental in 1875 and also defaulted on its bonds, ana
a receiver was appointed November, 1875.
The Atlantic Sc Pacific road
and lands were sold in foreclosure Sept. 8,1876, and the St. Louis &
-dan Francisco became possessor of the property.
On January 31, 1880, an agreement was entered into with the
Atchison Topeka & Santa Fe for construction of a through line to the
Faciflo coast on the parallel from Albuquerque to San Francisco.
The
iroad was to cost $25,000,000, and to be built under the old charter
of the Atlantic & Pacific Railway.
At the annual meeting of the stockholders of the St. L. & S. F. Co. in
March, 1884, the following directors were elected for the ensuing year :
*d. P. Huntington, Leland Stanford, Jay Gould, Russell Sage, Jesse Seligman, E. F. Winslow, J. D. Fish, W. 8. Buckley, Horace Porter and A. 8.
Match, of New York; W. L. Frost, of Boston, and C. W. Rogers and R.
Organization, &c—This company was organized Sept.
©accessor to the Atlantio & Pacific in Mo. The latter embraced the
IPaciflc RR. (originally the Southwest Branch of the Pacific RR.
>
-
S. Hayes, of St. Louis.
Stocks and Bonds.—The first preferred
«ent (non-cumulative) ; then pref.
stock has prior right to 7 per
entitled to 7 per cent; then common
•entitled to 7; then all classes share in any surplus.
The. 1st pref.
ateo by the terms of a resolution of the board of directors (ex
pressed in the certificates) had a precedence for income over any mort¬
gages made subsequent to the creation of said stocks.
44,720
545,925
177,409
95,050
563,307
469,052
73,650
464,436
185,620
$2,517,509
$2,019,371
$970,131
Town lots
Contracts
Cash balances
Operations, Finances, &c.—The St. Louis & San Francisco has been
one of the successful reorganized railroads of the Southwest, and has
made good progress in traffic and income, without very
ing its annual interest charges.
The relations with the present
heavily increas¬
Atlantio
& Pacific Co., as a part]owner of its stock, are somewhat complicated,
but the actual obligations of that company for interest on its mortgage
provided for by a joint traffic guarantee.
annual report for 1883 (Chronicle, V
38, p. 330) had the following:
1883.
1884.
1891.
1882.
Miles operated
725
776
661
bonds
are
The St. Louis& San Francisoo
operations and fiscal
results.
1882.
1883.
Passengers carried...
293,228
348,811
428,987
Passenger mileage... 18,529,140 20,148,500 25,872,527
3-59 cts.
3*68
3*26 cts.
Operations—
1881.
1884.
cts.
Rate per pass. p. mile
683,544
753,573
784,735
Freight (tons )moved.
Freight (tons) miles.. 123,867,774 137,334,335 162,384,768
Av. rate per
ton p. m.
Earnings—
Passenger
Freight
Mail, express, See....
Total
Operating expenses.
Net
earnings
<r
1*93 cts.
$
741.388
2,648,383
1*72 cts.
$
842,266
2,793,503
2,180,333
93,936
1,617,966
3,572,240
1,625,781
3.896,565
1,823,128
4,643,596
2,135,378
1,542,557
1,946,459
2,073,437
2,508,218
1*89 cts.
$
665,331
2,342,610
152,582
3,160,523
182,469
260,796
INCOME account.
$
Net
1,542,557
50,648
$
1,946,459
56,857
2,073,437
Total net income.
Disbursements—
Interest and sink. fd.
1,593,205
2.003,316
2,097,813
821,492
109,865
315,009
1,071,815
Int. accrued, not due.
Divs. on 1st pf. stock.
1,303,579
11,004
315,000
Rate of dividends....
Miscellaneous
7
7
162,573
Receipts—
earnings
Other receipts
$
424,102
$
2,508,218
24,376
49,026
315,000
........
........
7
39,857
63,913
1,669,440
1,499,754
Total disbursem’ts.
1,408,932
428,373
503,562
184,273
Balance, surplus
CO o
CO CO 00 •—.
-(V. 38, p. 31, 313, 330; V. 39, p. 554; V. 40, p. 214, 270,
St. Louis Vandalia Sc Terre Haute.—Owns from East St.
Louis to Indiana State line, 158 miles. Road opened July 1, 1870.
It is leased to the Terre Hante & Indianapolis Railroad at a
of 30 per cent of gross earnings. For the year ending October 31,
the net income was $447,092, and the year’s charges against this sum
were $362,083; leaving a surplus for the fiscal year of $85,009.
,
rental
1884,
In
operating this road the loss to lessee has been in 1880-81, $281,080;
m
1831-82, $70,272 ; in 1892-83, $115,399; in 1883-81, $71,549. The
annual report for 1883-84 was published in the Chronicle, V. 40, p.
150. The first mortgage and $1,000,000 of seoond mortgage bonds are
2,383,016
$1,544,700
pref.
lessees
andand
fuar.
by thecom.
also by the
Pitts.TheCin.pret.
<fe St.was issued* for income
bonds ($1,000,000) and for deficiencies made up by the lessees. Thos. D*
L. RK. The stock is
Messier, Pres., Pittsburg, Pa.
Operations and earn’s for four years were
Subscribers will confer a great
favor bj giving immediate notice
explanation of column headings, &o., see
on first page of tables.
St. Paul dc Duluth— Preferred 7
Common stock
1st mort. bonds, coup, or reg
p. c.
notes
stock & scrip.
Date Size, or
of
Par
Road. Bonds Value.
Miles
of
225
225
169
21
Taylor’s Falls & Lake Sup.. 1st mort., cp.,guar —
1,350
St. Paul Minneapolis <£ Manitoba—Stock
76
2d M., and lston road from St. Paul to Watab —
656
1st mort. land grant sinking fund, gold
656
2d mort., gold
413
Dak. Ext., 1st mort., gold ($12,000 per mile)
Consoi mort., gold (for $50,000,000), coup, or reg. 1,394
Minneap. Un. RR.. 1st M.. gold,guar.($3,000,000)
....
No.Pac.—Stock ($10,000,00 >
St. Pauldt
authorized)
General mort.. gold, Id. gi\, skg. fd., coup, or reg..
Western RK., Minn., 1st mortgage, RR
Sandus/cy Mansfield <£ Newark—Re-organized stock
1st mortgage, new
San Francisco <£• North
Pacific—Stock
Savannah Florida, <6 West.—Consolidated 1st mort.
South Georgia & Florida, 1st mortgage
2d mortgage
do
do
Savannah Griffin d:N.Ala — 1st mortgage
Schenectady & Duanesburg—1st M., guar. D. & H..
Schuylkill Valley—Stock
Scioto Valley— 1st mort. (s. fund $13,000 per year).
2d mortgage (sinking fund, $5,000 per year)
Consol, mortgage
General consol, mortgage
(for $7,500,000)
Years.
1880-81
Miles.
158
..
..
Pass.
Mile.
Mile.
.
19,161,449
18,311,812
18,585.282
18,741.460
-(V. 38, p. 62, 1T6; Y. 40, p.
158
.
.
158
158
1,000
1,000
1881
1884
100
....
1862
1,000
1879
1879
1880
1883
1882
100 &e.
1,000
1,000
1,000
1,000
....
100
1883
1,000
60^
1877
1,000
116
116
93
1869
1,000
286
58
58
1867
500 &c.
1869
50
....
60
1869
1871
1,000
1,000
1,000
14ifl
1874
100 &c.
19
98*
98
124
80
31
....
mortgage
Shamokin Valley <& Pottsville—Stock
1st mortgage, gold, on road and lands
$....
....
126
152
....
Equipment bonds
Seaboard <& Roanoke—Stock ($244,800 is pref.)
Shamokin Sunbury <6 Lewisourg— 1st mort., coup.
2d
29
28
50
....
ioo
.
1,000
1,000
50
....
1871
500 &c.
Net
$188,574
104,209.720
1,490,307
375,543
1,596,126
1,700,954
Earn’gs.
408,566
442,218
V. 39, p. 72, 183.
of which 1,172,356 acres
Gross
576,050
1,294,000
(i)
80,000
1,302,800
1,000,000
500,000
869,450
2,000,000
Earnings.
$1,565,515
follows :
200,000
500,000
500,000
553.000
107,089,535
Net
2,300,000
3,750,000
1,780,500
464,000
1,000
remained
and stumpage sales amounted to
$64,905, and deferred payments (land accounts) Dec. 31,1884, were
$431,875. Gross earnings and net income on railroad only, after deduct¬
Gross
,
1,000
Gross
Net
earnings, earnings.
earnings.
$1,328,527 $271,186
1881
$50,249 1983
$732,630
1,317,314
398,091
1832
1,109,840
261,246 1384
-(V\38,p. ITT; V.39. p. 72, 183; V. 40, p.267.)
St. Paul Minneapolis Sc Manitoba— (See Map).—Owns from St.
Paul to Fergus Falls, 186 miles; Osseo Junction to St. Cloud, 63 miles;
St. Cioud to Hinckley, 66 miles; Sauk Centre to Eagle Bead, 36 miles;
East Minneapolis to Breckenridge, 204 miles; Breckenridge to Portland.
101 miles; Everest to Mayville, 46 miles; Ripon to Hope, 30 miles;
Morris to Brown’s Valley, 47 miles; Fergus Falls to St. Vincent, 202
miles; Breckenridge Junotion to Grand Fork’s Junction, 126 piles; Grand
Forks to Boundary, 81 miles; Crookston Junction to Devil’s Lake, 113
miles; Fergus Falls to Pelican Rapids. 22 miles; Shirley to St. Hilaire, 22
miles; Moorhead Junction to Halstad, 34 miles; other small blanches,
18 miles; total operated, 1,397miles.
earnings,
5,676,000
11,976,000
2.150,000
5,000,000
5,000,000
439,000
1,074,832
283,000
“
a’l fixed charges, were as
5,350,000
8,000,000
1,000
Mile.
Bee income statement V. 39, p. 183 ;
The company has a land grant,
unsold Jan. 1, 1885. In 1884 land
210,000
20,000,000
366,000
1879
1880
1883
1882
1884
Rate per
Cent.
$5,376,970
4,055,407
1,000,000
500 &c.
Freight (ton)
115,982,845
111,810,481
Amount
Outstanding
1876
150, 356.)
St. Paul Sc Puluth.—Line of Road.—St. Paul, Minn., to Duluth,
Minn., 155 miles; branch to Knife Falls, 7 miles; leased: Stillwater &
St. Paul RR., 13 miles; Minneapolis & Duluth RR., 12 miles; Taylor’s
Falls & Lake Superior. 21 miles; Grantsburg Branch, 17 miles; total,
225 miles. Between Northern Pacific Junction and Duluth, 24 miles,
the road is owned jointly with the Northern Pacific.
This was the Lake Superior & Mississippi RR., opened August 1,
1870, and leased to the Northern Pacific. Default was made Jan. 1,1875,
and road sold in foreclosure May 1, 1877, and this company organized
June 27. The preferred stock is received in payment for lands at par.
Three shares of common stock have one vote and each share of pre¬
ferred lias one vote. Preferred stock has a prior right to 7 per cent from
income from all sources, including land sales;” then common to receive
6 p. c.; then remainder of income to be applied to purchase of pref. stock.
The net income from 1878 having been spent on improvements, it
was determined to issue 10 per cent of new preferred stock to the pre¬
ferred stockholders of record Nov. 1,1881, payable Nov. 14, to repre¬
sent the cash so spent in improvements, and the Aug. 1. 1884, divi¬
dend was paid in preferred stock, increasing the stock to $5,237,570.
but resolutions passed to apply income thereafter to cash dividends.
ing
of any error discovered In these Tables.
INTEREST OR DIVIDENDS.
DESCRIPTION.
For
77
AND BONDS.
STOCKS
RAILROAD
April, 1885.
When
Where
Payable, and by
Whom.
Payable
& J. N. Y.,
Fourth Nat. Bk.
3i*
J.
5
6
F. & A. N.Y., Central
do
J. & J.
1^2
7
7
6
6
6
6
g.
g.
g.
g.
g.
Q.-F.
Trust Co.
do
N.Y., 63 William St.
do
do
& J.
& J. New York and London.
do
do
A. & O.
N. Y., 63 William St.
M. & N.
do
do
J. & J.
do
do
J. & J.
J.
J.
Q.-J.
6 g.
7
3
7
F. & A.
M. & N.
J.
do
do
do
do
IstN. Bk., Sandusky, O.
& J. N. Y.. Union Trust Co.
7
7
7
7
6
J.
M.
M.
J.
M.
J.
J.
A.
J.
M.
M.
M.
M.
F.
F.
J.
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
2>s
7
7
7
6
7
5
5
6
3
7 g.
St. Paul Sc Northern
.
..
J.
N. New York, H. B Plant.
do
do
N.
J.
8.
J.
J.
0.
J.
S.
N.
N.
N.
A.
A.
J.
Stocks—Last
Dividend.
JaD.
Aug.
Jan.
May
1, 1885
i, i931
1,
1894
1,1885
1892
1909
Oct. 1, 1909
Nov.
1910
1933
1922
1885
Feb. 1, 1923
May 1, 1907
Feb. 1, 1884
July, 1902
1,
July l,
July 1,
N.Y., Winslow, L. & Co. April 15,
1^
.
Bonds—Prlnol
pal, When Due
Savannah, Cent. RR.Bk
Del. & Hud. Canal Co.
Philadelphia, Office.
New York.
do
do
do
do
.do
do
N.Y., Winslow, L & Co.
Balt.,Farm.<fc Plant. Bk.
Phila., Phil. & Read.RR.
do
do
Philadelphia,Treasurer.
do
do
July, 1897
May 1, 1899
May 1, 1899
July 1, 1891
Sept. 1, 1924
Jan. 15, 1885
Jan.
1, 1896
April 1, 1894
July 1. 1910
Sept. 1, 1922
Nov, 1, 1884
May 1, 1912
Feb. 1, 1924
Feb., 1885
July, 1901
Pacific.—Line of road Brainerd to Minneap
This company was incorporated in 1974 as the Western
RR. Co. of Minnesota; from Sauk Rapids to Minneapolis was completed
July 1, 1884. Over It now passes the entire traffic of the No. Pac. RR. to
and from Minneapolis and St. Paul. The terminal improvements at Min¬
neapolis are on 20 acres in the business centre of the city, and for similar
purposes in and about Minneapolis and St. Paul, a total of 490 acres is
owned. The land grant of the company is located along the line of the
road between Brainerd and Sauk Rapids, and about 220,000 acres remain
unsold. The road, with its terminal property, is leased for 999 years
to the Northern Pac. at a net rental equal to 40 p. c. of the gross receipts,
The stock is
but the bonds are guaranteed principal and interest
placed iu trust with Farmers’ L. & T. Co., the power to vote being held
by Northern Pacific Company; but “ beneficiary certificates ” entitling
holders to dividends are issued.
The general mortgage is for
$10,000,000, and is a first lien on the whole property, excepting that
it is second to the Western Minn, mortgage on 60
miles and on part of
the lands; the registered interest is payable quarterly—February, May,
Aug. and Nov.; only $5,000,000 have yet been issued, and enough of
the issue is reserved to retire the Western Minnesota bonds in above
table. Since 1877 regular cash dividends have been paid, averaging over
olis, 126 miles.
6 per
cent per annum. (V. 39, p,
49,545.)
Sandusky'Mansfield Sc Newark.—Owns from Sandusky, O.. to
A consolidation of several roads in 1856.
O., 116 miles.
Leased Feb. 13,1869, to Central Ohio Railroad, guaranteed by Baltimore
& Ohio, and new lease made February 23,1880, extending to December
1,1926, with option to the Balt. & Ohio Company to renew for terms
Newark,
is $194,350 yearly till 1884; then $199,350
$201,850 annually. It is operated as Lake
Erie division of the Baltimore & Ohio system.
In 1880-81, gross
earnings were $899,751; net, $112,373; in 1881-82, gross, $940,769;
net, $234,701; in 1882-83, gross, $999,128 ; net, $291,781.
of 20 years eacn. Rental
for 1884 and 1885; then
Donahue, Cal.,
Cal., to Guerneville, Cal., 16 miles; and San Rafael to Petaluma, 21 miles; total
93 miles. This is a consolidation of several companies. Earnings were;
In 1883, gross, $538,821; net, $263,296. In 1882, gross, $505,771;
San Francisco
to Cloverdale, Cal.,
Sc Nortli Pacific.—Owns from
56 miles; branches—from Fulton,
'
net, $222,987.
Savannah Florida Sc
Western.—Owns from Savannah, Ga., to
branches—Bainbridge Junotion to Baln-
Chattahoochee, Fla., 258 miles;
bridge, 8 miles; extension to Savannah wharves, 2 miles; Junotion
Branch, 4 miles; Dupont to Live Oak, Fla., 48 miles; Live Oak to
Branford, 24 miles; Thomasville to Live Oak, 58 miles; total, 404
miles. Also from Way cross to Jacksonville, under separate organiza¬
tions, 75 miles. This was a consolidation in 1865 or the Savannah
Albany & Gulf Railroad and the Atlantic & Gulf under the latter
name.
The Atlantic & Gulf road was sold in foreclosure of the second
mortgage on November 4, 1879, subject to the consolidated mort¬
May 23, 1879, under the charter gage and other prior liens amounting to about $2,705,000. The old
and embraced the St. Paul & Pacific sectional mortgages yet amount to about out $260,500. The present
Railroad, the First Division of the St. Paul & Pacific Railroad, the Red company has a capital stock of $2,331,800, which is held in very few
River Valley Railroad, and the Red River & Manitoba Railroad. The lianas and dividends are paid as earned. The earnings in 1883 were
company took 2,000,000, acres of land as successor to the roads above $2,159,823 gross and $381,779 net. Iu 1882 gross earnings, $1,675,named, which were foreclosed. The proceeds of land sales are reserved 817; net, $3o8,762. H. B. Plaut. President, New York. (V. 38. p. 619.
by the first mortgage trustees as a sinking fund for the redemption of
Savannah Griffin Sc Nortk Alabama. Owns from Griffin,
tne lionds at or under 105 and interest, and bonds are called in yearly
so far as the funds are in hand.
The second mortgage bonds do not Ga., to Carrollton, Ga., 60 miles. Operated in connection with Central
cover the land.
The laud sales for year ending June 30, 1884, were Railroad of Georgia. Capital stock, $1,011,295. In 1883-84 gross earn¬
83,907 acres, for $460,982, and the total cash receipts $581,299. The ings $61,989; net, $16,179.
net amount due on land contracts June 30,1884, was $1,059,141; lands
Sckenectady Sc Huanesburg.—From Quaker Street Junction,
unsold, 2,335,111 acres.
N. Y., to Schenectady, N. Y., 14 miles.
Formerly Schenectady & Sus¬
The Dakota Extension bonds are issued at $12,000 per mile. The
consolidated mortgage bonds of 1893 were issued to stockholders of quehanna Railroad, and was foreclosed in 1873; reorganized and leased
in perpetuity to the Delaware & Hudson Canal Company. Lease rental,
May 1,1883, to the extent of one half their holdings on the payment
Stock, $100,500.
of 10 per cent of the bonds in cash.
The authorized amount of con $30,000 per year, paying 6 per cent on bonds.
Palo Alto to Reevesdale, Pa..
solidated mortgage is $50,000,000, of which $19,426,000 is reserved to
Sckuylklll Valley.—Owns from It is an old road, and was leased
pay prior liens, and the balance may be issued for new road at $15,000 11 miles; branches, 8; total, 19 miles,
per mile single track or $27,000 per mile double track. The Minneapolis to the Phila. & Reading RR. from Sept. 1. 1861, at an annual rental
Union RR. is a connecting road for other roads from the stock yards at \ of 5 per cent on the stock. Operations are included in the Philadelphia
St. Paul to Minneapolis, and its stock is $1,000,000.
I Sc Reading reports. Has no bonded debt.
The annual report for year ending June 30, 1884, was in V. 39, p. 323. i
INCOME ACCOUNT.
Scioto Valley.—Owns from Columbus, O., to the Ohio River oppos¬
1882-83.
1883-84. ite Ashlana, Ky., 132 miles. Enough of the consolidated mortgage is
1880-81.
1881-82.
reserved to take up the first and second mortgage bonds. It was proposed
Gross earnings..
3,700,853 6,629,694 9,148,524 8,256,868 to extend the road from Columbus to Fort Wayne, Ind. None of the con¬
sol, bonds had been issued up to July, 1884.
In 1884 gross earnings,
Net Receipts This company was organized
of the St. Paul & Paciflo Railroad,
4,327,478 $556,983; net. $136,379; rental, $53,476; interest on bonds. $155,400;
1,837,817 3,113,916 4,553,468
418,270 » other interest, $60,470; deficit for year, $195,910. Wm. Adams, Presi¬
813,945
860,677
223,832
214,434 * dent, New York.
92,106
34,259
Other receipts
4,600
2,066,24P 4,008,»c>^ 5,459,519 4,960,lez
Total income
Seaboard Sc Roanoke.—Owns from Portsmouth, Va., to Weldon.
disbursements—
N. C., 80 miles. Of the stock, $1,058,600 is common, $200,000 is 1st 7
Interest on debt
1,109,951 1,188,091 1,264,279 1,949,690 per cent guar., and $44,200 is 2d guar. Net earnings 1880-81, $232,495;
Dividends
975,000 1,724,664 1.6 JO,000 1881-82, $178,587; 1882-83, $186,778. J. M. Robinson, President,
Rate of dividend
8
8
8
Baltimore, Md. (V. 38, p. 562.)
Sinking fund
223,832
702,864
813,945 418,270 Skamokln Snnbnry Sc ILewlsburg.—Line from Shamokin to
157,812
381,545
Miscellaneous
West Milton, Pa., with iron bridge over Susquehanna River at Sunbury.
Total disbursements.. 1,333.783 3,023,767 3,802,888 4,349,505
road was built by Philadelphia & Reading, and opened in 1883 for
Balance, surplus
732,466
985,085 1,656,631
610,677 The
its coal traffic northward. Stook, $1,000,000. j
—(V.38, p. 60; V. 39, p. 210, 323, 402.)
Net earnings
Revenue from Land Dep’t
—
[:
RAILOD
STOCKS
AND
BONDS.
[Vol.
XL.
RAILROAD STOCKS AND BONDS
April, 1885. J
Subscribers will confer
a
great favor by giving Immediate notice of any error discovered In these Tables,
DESCRIPTION.
For
explanation of column headings. &c., see notes
on first page of tables.
Shenandoah Valley— 1st mortgage
General mort., gold
8d mortgage income bonds, registered, non cum..
Shenango <6 Alleghany—1st mortgage
West Pennsylvania & Shenango, 1st mortgage...
Shore Line (Conn.) -Stock
1st mortgage
Sodus Bay <6 Southern— 1st mortgage, gold
Somerset—1st mortgage, gold
South Carolina—Stock
1st mortgage, sterling loan
1st mortgage, dollar bonds (L)
1st consol mortgage (for $5,000,000)
2d consol, mortgage
Income
mortgage bonds (not cumulative)
So. <& No. Alabama—1st M., endorsed by Alabama.
Sterling mort., s. fund, guar, by L. & N
2d mortgage bonds (owned by L. & N.)
South Pacific Coast—Stock
Smith Pennsylvania—Stock (for$15,000,000)
South Pennsylvania—1st mortgage, gold
Southern Cent. (N. P.)—1st mortgage bonds
New consol.mort. (for $3,400,000) convertible...
Southern Kansas—K. C. Law. & So., 1st mortgage
Southern Kansas & Western—1st mortgage
..
Sumner County RR.—1st mortgage
Ottawa & Burlington RR.—lstmortg
Southern Maryland—1st mortgage, gold
Southern Pac. of Arizona—1st mort., gold,cp. or reg.
Miles
Date Size, or
of
of
Par
Road. Bonds Value.
254
254
254
57
50
50
34
25
247
247
247
247
247
247
1880
1881
1883
1869
$1,000
100
....
1880
1884
1871
1,000
100
100
....
....
....
....
....
....
....
24
114
114
175
149
18
42
Various
500
380.500
1,000
1,000
1,000
1,000
4,276,000
1,130,000
2,538,000
391,000
£200
4.872,310
2,000,000
1,000,000
(1)
625,000
....
....
1869
1882
1879
1880
1880
1880
1,000
90,000
200 &c.
2,967,400
2,940,000
1,715,000
500 &c.
1,000
1,000
1,000
230.000
500,000
500,000
9.604,000
....
....
’79-’80
1,000
cp. or reg.
384
955
’75-’82
500 &c.
Southern Pacific of N. Mexico—Mort., coup, or reg..
Southwestern (Oa.j— Stock, guarant’d7 per annum
15
167
321
1880
1881
1,000
1,000
33,650,000
250,000
4,180,000
100
5,049,300
mort.,gold,land gr.,
Monterey, 1st mortgage
Shainokln
....
Valley Sc Pottsvllle.—Line of road, Sunbury, Pa., to
ing
1882-83, $500,698; net, $300,847.
July, 1886.
Geo. B. Roberts, President, Phila.
.Sydney F. Tyler was appointed receiveivon application of the Fidelity
Insurance Trust <fc Safe Deposit Co. The April interest is in default.
In 1884 gross earnings were $742,371. against $854,415 ; net, $129,356, against $192,257. (V. 38, p. 295, 541, 647; V. 39, p. 49, 382, 494,
655 ; V. 40, p. 183, 394, 427.)
Slienango Sc Alleghany.—Owns from Greenville to Hilliard, Pa.
47 miles; branches, 10 miles; total operated, 57 miles. Leases the West
Pennsylvania & Shenango connecting road, extending from this line to
Butler, 24 miles, under construction in 1883.
The company made
default in 1879, but the October coupons were paid Feb. 21,1880. Road
now in hands of receiver.
Stock, $200,000. Gross earnings in 1883,
$192,30.'; net, $73,401
Gross 1832, $171,176; net, $73,855. A. H.
Steele, President. Titusville, Pa. (V. 38, p. 350.)
Shore Line (Conn,)—Line of road, New Haven, Conn., to New
London, Conn., 50 miles. Leased to New York & New Haven RR. Co. in
eerpetuity
1, 1370,RR.;
Chartered asunder
New
Nov.London
at $100,000
net per annum.
[aven & New
sold in foreclosure
and reorganized
Dividends 31* in Jan. and 4 in July. Opera¬
included in the reports of the lessee.
Somerset.—Oakland, Me., to Anson, Me., 25 miles. Capital stock,
$379,050. In September, 1883, the bondholders took possession and pre¬
pared to reorganize the company. Gross earnings in 1883-84, $31,162;
net, $4,175. Gross in 1882-83, $25,996; net, $1,660.
Sodus Bay Sc Southern.—From Sodus Point to Stanly, N. Y., 34
miles. The Ontario Southern was foreclosed Nov., 1882, and this com¬
pany organized. Tile stock is $500,000, owned by Northern Central
RR. Co., by which this road is operated.
(V. 39, p. 734; V. 40, p. 153.)
South Carolina.—Owns from Charleston to Augusta, S. C., 137 m.;
branches to Columbia, 68 m., and to Camden, 38 m.; extension. 4 miles;
total maiy line and branches, 247 m. Default was made aud the road
sold in foreclosure July 28, ’81. and the company was reorganized with
present title June 29, 1864.
tions and earnings are
stock and bonds as above.
The company held in its treasury, Jan., 1885, $200,000 2d consoli¬
dated bonds and $462,000 incomes.
The annual report was in the
Chronicle, V. 40, p. 336.
INCOME ACCOUNT.
1882.
$
Total gross earnings
Net earnings
Other receipts
....
Total income
Disbursemen ts—
Interest on debt
Interest on incomes
Miscellaneous
.
..
1883.
$
1884.
$
1,313,821
501,191
3,497
1,326,969
432,875
13,8 30
1,233,292
382,724
5,880
504,688
416,765
388,604
357,817
126,900
4,149
373,754
76,140
2,472
382,722
252
Total disbursements....
488,866
452,366
382,974
Balance
sur. 15,822
def. 5,601
sur. 5,630
-(V. 38, p. 176; V. 40, p. 336.)
South Sc North Alabama.—Owns from Decatur, Ala., to Mont¬
gomery, Ala., 182 miles, with a branch of 6 miles from Elmore to
Wetumpka. The road is controlled by the Louisville & Nashville RR.
Company, which owns a majority of the stock and all of the second mort¬
gage bonds,- $2,000,000, due 1910, which are pledged with the Union
Trust Co. as security for the L. & N. bonds, dated June 1,1880. 500,000
acres of laud in Alabama, largely mineral, nave been transferred to the
Louisville & Nashville Co., Common stock, $1,469,082 ; preferred stock,
$2,000,000. In 3 883-84 gross earnings were $1,643,562; net, $558,170;
interest and taxes, $561,264; deficit, $3,094; due Louisville & Nashville
RR. Co., $1,565,967.
.
South Pacific Coast
(Narrow-gauge),-Owns from Newark to
Junction (Felton), Cal , 45 m.; leased—San Antonio Creek to Newark, 25
in.; Felton to Santa Cruz, 6 in.; total, 76 m. There are no bonds, but in
Jan., 1884, there was debt due the treasurer of $1,791 322. Gross earn¬
ings 1883, $711,426 : net,-$197,686. A. E. Davis, Prest.. San Francisco.
Rate per
Cent.
When
Where
Payable, and by
Whom.
Payable
7 g.
6 g.
6
7
J. &
A. &
Feb.
A. &
J. Philadelphia & London.
O. Philadelphia and N. Y.
1
Philadelphia Office.
0. N. Y., N.Bk. of Com’rce.
3^2
4bj
J.
M.
J.
J.
J. N.
S.
J. N.
J.
5
7 g.
5
5 g.
7
6
6
6
8 g.
6 g.
6
&
&
<fc
&
H., Nat. N. H. Bank.
do
do
pal,When Due.
Stocks—Last
Dividend.
Jan.
1, 1909
April 1, 1921
Jan. 1, 1923
1889 & 1907
Jan. 5, 1885
March, 1910
Y., Penn. RR. Office. July 1, 1924
July, 1891
Feb. 1, 1883
*
-
J.
J.
&
&
A. &
J. &
J.
London.
J. N.Y.,Co.’s Office, 63 Wm
0.
do
do
J.
do
do
do
do
Yearly'.
J. & J. N. Y., Drexel, M. & Co.
M. & N. Loudon, Baring Bros.
1885 to 1898
1885 to 1898
Oct. 1, 1920
Jau. 1, 1931
Jan. 1. 1931
Jan. 1, 1890
May 1. 1903
1910
....
....
7 g7
5
6
7
7
6
6 g6 g.
6 g5
6 g.
3i*
M.
F.
F.
A.
J.
M.
&
&
<fc
&
&
S.
A.
N Y., Vermilye & Co
A.
do
do
O. Boston. Nat. Union Bk.
J.
do
do
do
& S.
do
A. & O.
do
do
s
J.
A.
A.
J.
J.
®
®
&
&
&
6c
&
Mar.
1. 1900
Aug. 1, 1899
Feb. 1, 1922
Apr. 1, 1909
Jan. 1.
1910
Sept. 1, 1910
April 1, 1909
a
J.
O.
New York Citv.
Mar., 1909-10
N. Y., Mills Building. 1905-6 & 19 L2
do
0.
do
April 1, 1900
J. N. Y., Company’s Office Jau. 1, 1911
D. Savauuah.Cent.RR. Bk. Dec. 24.1884
South Pennsylvania.—This is the title of the company construct¬
a railroad in Penrsylvauia in which Mr. W. H. Vanderbilt is sup¬
posed to be very' heavily interested. The line is in progress between
Harrisburg & Pittsburg, 225 miles makiug a western extension of the
Philadelphia & Reading system. The is me of stock and bonds has not
been made public.
It is expected that the road will be completed by
Mt. Carmel, Pa., 27 miles; branch to Lancaster Colliery, 2 miles total 29
miles. The road was leased February 27, 1863, to the Northern Central
Railway Company, with a guarantee of interest on the bonds aud 6 per
cent per annum on the stock. The yearly reports will be found in the
Chronicle with the reports of the Northern Cent. RR. Gross earnings for
Shenandoah Valley.—(See Map of Norfolk <£ West.)—From Hagers¬
town, Md., to Waynesboro and thence to a connection with the Nor¬
folk A Western road at Roanoke, 239 miles and branches 15 miles. A
close contract for working aud an exchange of stock for Norfolk &
Western stock has been made; also a contract with Pennsylvania RR.
for exchange of business was made in 1883, by which the Pennsylvania
and the Cumberland Valley RR. companies agreed to lay by a certain
percentage of their gross receipts from business with the Shenandoah
Yal to be used for the purchase of Shenandoah Valley’s general inortg.
bonds. In any year prior to October 1, 1888, this fund may be applied
to the purchase of coupons if the earnings are insufficient to pay
interest. The stock is $3,696,200, of which $3,037,100 is held by the
Norfolk & Western RR. Co.
In March, 1885, owing to a deficiency in earnings to meet liabilities,
-
1,000,000
200,000
500,000
450,000
4,204,160
311,019
1000&C.
....
....
1,590,000
1,200,000
500 &c.
183
76
Outstanding
$2,270,000
4,055,000
1,000
1,000
1868
1868
1881
1881
1881
1870
1873
181
INTEREST OJR DIVIDENDS.
Amount
....
South. Pac. (Cal.)—1st
T9
Robt. H Sayre, Pres. Office, Harrisburg. (V. 39, p. 209.)
South Pennsylvania Railway Sc Mining Co.—South Pennsyl¬
vania Junction to Richmond, Pa., 21 miles, with a branch from Rich¬
mond to Ore Banks, 2 miles. Leased for 199 years from March 1, 1870.
to Cumberland Valley Railroad Company. Road originally organized,
under the name of Southern Pennsylvania Iron & Railroad Company,
but was sold by foreclosure of second mortgage December, 1872, ana *
reorganized under present name. Capital stock, $800,000. In March,
1835, it was practically merged in the Pennsylvania system by purchase
of all its bonds by the Cumber’and Valley.
Southern Central (N. Y.)—Owns from Fairhaven, N.Y., to Penn
sylvania State Line, 114 miles. Leases the Ithaca Auburn & Western,
Freeville to Auburn, 38 miles; State Line to Savre, 2 miles. Total
operated. 154 miles. Road forms an extension to Lake Ontario for the
Lehigh Valley Railroad, in the interest of which company it is con¬
trolled. A readjustment of funded debt was made in 1882 on the present
basis. The new 5s are convertible into stock at option of holders within
ten years, aud $100,000 are held iu trust to retire the prior bonds due in
1899. Capital stock paid iu is $1,790,574. Iu 1883-84, gross earuiugs
were $484,329; net, $170,867; m 1882-83, gross, $511,900; net, $230,
579.
(V.40, p. 153.)
Southern Kansas.—Owns from Lawrence, Kan., to Coffeyville
(Indian Ter. Line), 144 miles; branches—Ottawa Junction to Olathe,
32 miles; Olathe to Holliday, 14 miles; Cherry vale to Harper Kan.,
149 miles; Wellington, Kan,, to Hunnewell, Kau., 18 miles; Ottawa <fe
Burlington RR., 42 miles; total operated, 398 miles. Tne K. C. &
Emporia RR., Emporia to Ottawa 56 miles; Kansas Southern RR.,
Girard to Chanute, 40 miles, and Harper
Western, Harper to Attica,
12 miles are operated underlease. Total miles Jan 1, ] 835,506. The So.
Kansas Railway is a consolidation of the Kansas Citv Lawrence &
Southern Kansas RR. the Kansas City & Olathe Railroad and the
Ottawa & Burlington RR. The Kan. City Lawrence & Southern Kan. was
formerly the Leav. Law. & Gal. RR which was sold in foreclosure Aug.
9, 1878, and purchased by bondholders, and the present company organ¬
ized May, 1879. In November, 1880, the consolidation of the three
roads above named was made, and the consolidated stock of $3,759,000
was purchased iu the interest of the Atchison Top. & S. Fe with the 5
per cent bonds of that company, through its auxiliary corporation, the
Kansas City Topeka & Western. (V. 38, p. 31, 295, 479, 678 ; V. 39, p.
47,157,263.)
Southern Maryland.—The Southern Maryland RR. was designed to
extend from Poiut Lookout, at the mouth of the Potomac River, to
Washington. Interest was in default and W. W. Scott appointed receiver
See Chronicle, V. 36, p. 445.
Southern Pacific of Arizona.—This is the connecting line of the
South. Pacific of Cal., extending from Yuma to N. Mexico boundary, 384
miles. The stock is $19,995,000. Operated under lease to Central Pac.
till Nov. 1, 1885, at $135 per mile per month. Rental for 1883, $635,355.
,
Southern Pacific (of California). (See Map.)—Line of Road.—
This road aud connections are well shown on tue tfheompany iug map. The
roadiu California is in two divisions—the North. Div. from San Francisco,
to Tres Pinos, 100L2 miles; Camadero June, to Soledad, 601* miles; and
leased line, Castroville June, to Monterey, 15 miles; Santa Cruz RR., 21
in.; total iu North. Div., 197 miles;—the South. Div., Huron via Goshen to
Colorado Riv., 529 miles; Los Angeles via Wilmington to San Pedro, 25
miles; total South. Div., 55L miles; total South. Pacific in Cal., 749 miles.
At Goshen the Southern Div. meets the San Joaquin Branch of the Cent.
Pac., by which it reaches San Francisco and the main line of Central
Pacific. The line Mojave Junction to Colorado River was contracted
in 1884 in some shape to the Atlantic & Pacific
the traffic to
San Francisco pissing* over the Southern Pacific lines and paying
a rental.
The Southern Pacific, at Yuma, connects with its closely
affiliated lines extending to El Paso, and thence over the Galv. Har. &
San Ant. and its connections to Galveston and New Orleans.
Organization, &c.—The Southern Pacific was a consolidation Oct. 12,
1870, of the Southern Pacific, chartered Dec. 2,1865; the San Francisco
<fc San Jose, Aug. 18, 1860; Santa Clara & Pajaro Valley, Jan. 2, 1868,
and California Southern, Jan. 22, 1870. Afterwards the Southern Pacific
Branch RR. (chartered Dec 23,1872,) and the Los Angeles & San Pedro
(chartered Feb. 18,1868) were absorbed. The Central Pacific RR. leased
the southern division of this road, but in March, 1985, the lease was
turned over to the Southern Pacific Company. In August, 1884, sold or
contracted 242 miles of road to the Atlantic & Pacific, extending from
the western terminus of the A. & P. to Mojave; and right of way over
the balance of the line to San Francisco is secured at
Stock and
a
fixed rental.
Bonds.—The authorized stock is
$90,000,000, of which
$44,039,100 has been issued and is supposed to be held mostly by the
directors. The bonds above are in series A, B, C, D aud E, of which A
includes $15,000,000 and B, C, D and E each $5,000,000; there are
also two other series, F of $5,000,000 and G of $6,000,000 for new con¬
struction as required. The series A, B, C and D mature in 1905-6, the
series E iu 1912. Over $5,000,000 of these bonds are held in the Central
RAILOD
STOCKS
AND
BONDS.
LVol.
April,
RAILROAD
1885. j
Subscribers will confer a
great favor by giving
headings, &c., see notes
on first page of tables.
explanation of column
Pennsylvania—Stock
1st mortgage
Spuyten Duyvil & Port Morris—Stock
Slate Line d Sullivan—1st M., conv. (red’ble aft.’88)
Staten Island—1st mortgage
Sterling Mountain (iV.F.)—1st rnort., income, guar.
Stockton d Copperopolis—1st mort., (guar, by C. P.)
Southwest
Summit Branch, (Pa.)—Stock
1st mortgage bonds
Sunbury Hazleton & Wilkesbarre—1st
2d mortgage
1st mortgage
Syracuse Binghampton d N. T.—Stock
2d mortgage (now first)
Consol, mortgage (guar. D. L. A W.)
Syracuse Chenango & New York—Funded debt
Syracuse Geneva d Corning— 1st mortgage
2d mortgage
Indianapolis—Stock
Bonds or 1873
Terre Haute d Logans port—Stock
1st mortgage, guar, by Terre Haute
Texas Central—1st mortgage, gold
N. E. Div., mort., gold (2d on
General mortgage, (pledged)
44
1877
....
6
24
13
734
45
20
20
43
43
431*2
23
23
81
81
81
43
57
....
i
.
1877
1873
1831
1875
A Ind’napolis
177 miles)
....
Debentures
5
7
4
7
7
7
5
3
$546,150
962,000
$....
1,000
989,000
.....
200,000
300,000
475,674
500,000
100. Ac.
1,000
1,000
4,010,350
1,000
1.192,000
7
1,189,000
5
1870
1875
1867
1876
1877
1875
1879
1,000
1873
1,000
....
1,350,000
....
500,000
500
500,000
1,000,000
2,500,000
270,000
1,750,000
100
1,000
1.000
50 Ac.
261.400
928,300
600,000
....
....
50
50
1879 |
1879 j
1881
1884 1
1880 i
1881 1
1875 |
1882
1883 j
1,000
1,000
1,000 i
1,000 i
1,000 !
1,000 1
1,000
!
1,000 (
100
the lands, aud as
proceeds of lands come into the hands of the trustees, bonds are pur¬
chased, and $1,932,000 have been so retired. There is also a sink¬
Pacific sinking funds.
Rate per
Cent.
Outstanding
1874
1878
1878
1876
114
93
177
52
228
161
165
105
104
Amount
500 Ac.
50
iie
Ch.S.D.AR.G., 1st M., gold.
1st mortgage, golu ($15,000 p. m.)
Texas d N. Orleans of ’74—1st mortg. laud gr., coup
Sabine Divisiou, 1st mortgage, gold
Texas-Mexican—Corpus
Date
Size, or
Par
of
Road. Bonds Value.
Miles
of
mortgage—
Sunbury d Lewistown— 1st mortgage
Suspension Bridge d Erie Junction—Stock
Terre Haute d
discovered in these Tables.
Bonds—Princi¬
immediate notice of any error
INTEREST OR
DESCRIPTION.
For
81
BONDS
STOCKS AND
The bonds are a mortgage on
:
1,988,150
1,600,000
500,000
500,000
2,145,000
1,254,000
2,236,000 i
960,000 j
2,500,000
1,620,000 i
2,075,000
534,000
j
6
7
7
7
2
7
7
7
7
5
3
7
Where
When
Payable, and by
Whom.
Payable
pal,When Due.
Stocks—Last
Dividend.
A S. Phila. and Greensburg. March, 1885
Feb., 1917
A A.
Philadelphia Office.
New York.
Jan., 1885
A J.
A J. N Y., Union Trust Co. Jan. 1, 1899
A. A O. H.Y., Company’s Office. April 1,1893
New York.
July 7. 1895
Feb.
January. 1905
J. A J. N. Y., Central Pacific.
Feb. 16, 1876
F. A A. Phila., 233 So. 4tli St.
Jau. 1, 1904
do
do
J. A J.
M. A N. Philadelphia, Peuu. RR. May 1, 1928
do
do
M A N.
May 1, 1938
J. A ,1. Phila., Guar. T. A D. Co July 1, 1896
M.
F.
J.
J.
J.
A
J. N. Y. Lake Erie A West.
Q.—Mar N.Y., D. L.A W.RR. Co.
A D.
do
do
A. A O.
F. A A.
do
do
J.
Syracuse Savings Bank.
M. A N. L.Y.,Farmers’
M. A S.
F. A A. N.Y.,Farmers
do
A. A 0.
6
J.
7 g.
M. A N
L.A T.Co.
L.A T.Co.
do
N.Y., Farmers’L.A T.Co.
J. J. Cisco A Son.
A J
M. A
M. A
7 g. J. A
6 g- J. A
F. A
7
6 g. M. A
6
j J. A
7 g.
6
DIVIDENDS.
N, Y.,
Yearly.
1, 1900
1, 1885
J uly
Mar.
June, 1887
1, 1906
Oct.
Aug. 1, 1907
Nov. 15,1905
Mar. 1, 1909
Feb. 1,1885
1893
1910
Nov, 1, 1909
May 1, 1911
Nov. 1, 1934
July 1, 1910
July 1, 1921
N. Y., Company’s Office. Aug. 1. 1905
do
New York Agency.
N
N.
J.
J
A
do
do
S.
J.
do
do
March 1, 1912
1893
1
Summit Brandi (Pa.)—This company leases the Lykens Valley
RR., and it has a small branch of its own to Summit Mines, %of a mile.
The road is operated by the Northern Central
under contract. Traffic is
1884, iucliid. coal, $1,715,235;
advau., $218,911. Gross in 1883, $1,535,399;
Land Grant.—The land grant is 12,840 acres per mile, and proceeds
net, $256,912; int. and advances, $150,921. (V. 38, p. 196; V. 40, p. 208.)
of sales go to pay bonds. The total grant is estimated to furnish
Sunbury Hazleton Sc Wilkesbarre.— Suubury to Tomhicken,
10,445,227acres,but a large proportion of the lands are barren and Pa., 43 miles. Foreclosed March, 1873. Stock, $1,000,000. The Penn.
useless for agricultural purposes without irrigation. In 1883 the sales Railroad has a large interest in it. J. N. Da Barry, President, Phila¬
were 83,565 acres for $301,278; total acres sold to Dec. 31, 1883, 688,delphia. (V. 39, p. 522.1
604 for $3,006,964, leaving 9,805,227 acres unsold Dec. 31, 1883.
Sunbury Sc Lewistown.—Selinsgrove Junction to Lewistown,
Operations, Finances, Ac.—The Southern Pacific of California, with
Pa., 43 miles. Leased to Pennsylvania RR. for contingent iuterest in
its connecting lines, forms a route from San Francisco to New net earnings, which in 1882 were $120,065; in 1883, $132,285; in 1884,
Orleans. Owning the Morgan RR. and Steamship Co., this line has
$105,855. Stock, $600,000 and div’s of 6 per ct. a year have been paid.
a traffic from New York and other Atlantic cities direct to California.
Suspension Bridge Sc Erie Junction.—East Buffalo Junction
The Southern Pacific gave to the Atlantic & Pacific road a traffic guar¬
to Niagara Falls and Suspension Bridge, 23 miles; Lock. A Buff. RR.
antee of 25 per cent on earnings from business exchanged with that line,
if necessary, for payment of interest on Atlantic & Pacific bonds. Gross leased, 14 miles; total operated, 37 miles. Road opened January, 1871.
It is leased to New York Lake Erie A Western Railroad Co. at 30 per cent
earnings in 1884 ou all divisions were $7,170,000, against $3,393,006
gross receipts, which are guaranteed to be not less than $105,000 per
in 1883; net, $3,110,000, against $4,258,656.
Interest payments in of
1984, $2,433,300; in 1883, $2,433,300. (See V. 40, p. 208.) The an¬ annum. Loss to lessees iu 1830-81, $17,901. Iu 1881-82, loss, $18,296.
Lessees own all stock except 297 shares.
nual report for 1883 was published in August, 1884, in the Chronicle,
V. 39, p. 181. Income account was as fallows:
Syracuse Bingliampton Sc New York.—Owns from Geddesincome account.
N. Y., to Binghampton, N. Y., 81 miles.
Chartered as Syracuse A Bing¬
1333.
1882.
liampton and opened Oct. 23, 1854; foreclosed and reorganized April
Receipts—
$623,642 30,
$642,508
1857, and leased to Delaware Lackawanna A Western. In 1833-84
1,958,197 gross
1,666,666
earnings, $303,934 ; net, $314,285; interest, $141,400; divi¬
159,000
Contract with Wells, Fargo A Co
dends (8 per cent), $200,000.
In 1882-83, gross, $963,433; net,
43,645
Other sources
300,000 $454,023; lilt. $L41,500; div. (9 p. c.), $225,000. (V. 39, p. 581.)
595,000
Redemption of bonds
Syracuse Clienaugo Sc New York.—Owns from Syraouse, N. Y.,
$2,925,484 to Earlville, N. Y., 43 *2 miles. The Syracuse A Chenango Valley Rail¬
$3,063,174
road was sold in foreclosure and a new company organized March 14,
Disbursemen ts—
$1,977,624 1873, under the name of Syracuse A Chenango Railroad. April 15,
$1,712,435
100,000 1877, road was again sold iu foreclosure and present company organ¬
100,000
Sinking fund
250,479 ized. which also became embarrassed and passed into tbe hands of a
323,988
Taxes and street assessments.
190,361 receiver January, 1879. The N. Y. West Shore A Buffalo has aoqulred
172,380
Miscellaneous
control of the property. Stock, $500,000 common aud $301,400 pref.
$2,518,464 Earnings in 1881-2, gross, $94,111; deficiency after charging out inter¬
$2,308,803
est account. $26,413. I11 1882-83 gross earnings $36,139; deficiency
$407,020 after charging interest, $53,990.
$754,371
-(V. 38, p. 62; Y. 39, p. 21, 181, 263, 349; V. 40, p. 29, 121, 208, 333,
Syracuse Geneva Sc .Corning.—Owns from Corning, N. Y., to
479.)
Geneva, N. Y.. 57 miles. This road was opened December 10, 1877,
Southern Pacific of New Hexico.—Road extends from Ari¬ and is leased to the Fall Brook Coal Co. at a rental of 33i.3per cent
zona State Line to the Rio Grande at El Paso, Texas, 167 miles.
Oper¬ of its gross earnings. Stock is $1,200,009. In 1882-83 gross earnings
ated under lesrse to Central Pacific till Nov. 1, 1335, at $1,620 per mile were $596,860; net, $281,439; rental, $198,953; balance to lessee,
per annum.
Rental in 1882 was $285,633. Gross earnings were $82,485. In 1883-4, gross, $678,370 ; uet, $267,237 ; rental, $226,123;
©789,753, aid surplus over expenses and rental, $39,901.
Stock, miscellaneous, $65,070; loss to lessee, $23,856.
$6,888,800.
Terre Haute Sc Indianapolis.—Owns from Indianapolis to Illi¬
Southwestern (Ga,)-From Macon, Ga., to Eufaula, 144 miles;
has 177 miles of branches, the main one being from Fort Valley to Col¬ nois State Liue. 80 m., with coal branches, 34 in.; total, 114 m. The road
umbus, 71 m^es.
A lease was made Aug. 1, 1869, to the Central RR. was opened in 1852 (as Terre Haute A Richmond). The company leases
of Georgia which assumes the liabilities aud guarantees 7 per cent on aud operates the Terre Haute A Logansport RR., also the St. Louis
Vandalia A Terre Haute Road ou joint account with the Pittsb. Cm. A St.
the stock, but 8 per cent is to be paid if 10 per cent is paid on Central
stock. In June, 1881, $32 per share iD 6 per cent debt certificates was Louis RR., at 30 per eeut of gross earnings, but guarantees the first and
second mort. bonds. Tn 1832-83 gross earnings, $1,297,690; net earn¬
declared by"Central Georgia Railroad.
Southwest Pennsylvania.—Greensburg, Pa., to Fairchance, Pa., ings, $404,103. I11 1833-4, gross earuiugs, $1,127,338; ne^, $322,782;
44 miles. Opened April 1, 1873, and leased to Pennsylvania Railroad, total net income, $375,056; interest and 8 per cent dividends, $271,052;
on T. H. A L. lease, $33,419; 1083 on St, L. V. A T. H., $14,310;
which operates it at cost, paying net earnings as rental.
In 1884 loss
surplus for year, $6,245. (V. 40, p. 356.)
Terre Haute Sc Lo^ausport.—Owns from Loaransport, Iud.,
gross
onds earning
were
and 10 3per
cent on stock were paid out of net earnings of 1883
to Rockville, Ind., 94 miles; leased, Rockville to Terre Haute, 22 miles.
and 1884.
Total
116 miles.- Formerly Logausp. Crawfordsv. A Southw.,
Spuyten Duyvel Sc Port Ittorrl*.—Road is 6"miles in length and whichoperated,
was sold in foreclosure Sept. 10, .1879, and reorganized under
connects the New York Central & Hudson with the New York A Harlem.
Leased to New York Central November 1, 1871. Rental is 8 per cent on present name. Leased by Terre Haute A Indianapolis Railroad for 25
per cent of gross earnings, and first mortgage bonds guaranteed by
capital stock of $989,000. Operations are included in lessee’s returns.
State Line Sc Sullivan.—Owns from Monroeton, Pa., to Berenice, that company. Rental, 1380-81, $64,649 ; in 1831-82, $30,313.
Texas Central.—Line of road from Ross, iu McLennan Co., to
Pa., 25 miles Originally organized as Sullivan fe Erie Coal A Railroad
Co., which was sold in foreclosure Oct. 14, 1874, and a new company Albany, Texas, 177 miles; Garrett to Roberts, 52 miles; total, 229
formed December 2, 1874, under the present name. Stock, $990,00C. miles. Is controlled iu Houston A Texjjs Central interests, by which
(par $50). The mortgage covers 5,000 acres coal lands. In May. 1884, company it is operated; but accounts are kept separate. The authorized
this road was leased to the Penn. A N. Y. Canal A RR. Co. for fifty years, stock is *1.000,000; total issued. $130,200, of which H. A T. C. holds
at $36,000 per annum for three years and$40,000 afterwards.
(V. 38, p. $50,000; Morgan Co., $75,000; directors, $5,300. The gross earnings
iu 1883 were $290,262 ; uet, $28,511.
Iu 1834, gross, $283,637; net,
510; V. 40, p. 94.)
Staten Island.—Local road on Staten Island, Stapleton to Totten- $45,707 C. A. Whitney, Pres., N. O.
(V. 39, p. 436, 545.)
ville, 13 miles. Road is operated in connection with Staten Island
Texas-JIexIcaii.— Owns from Corpus Christi, Tex,, to Laredo on
Ferry Company. Capital stock, $210,000. In October, 1883, leased to the Rio Grande, 165 miles. Charter covers 1,400 miles in all. Under
Staten Island Rapid Transit Co. Earnings in 1832-83, gross, $332,408 : same control as the Mexican National, and iu November, 1883, a lease
net, $251,420; surplus over interest, dividends, Ac., $13,900. One per for 99 years was made to the Mexican National Company. W. J. Palmer,
cent dividend paid July 21, 1884.
President. Land grant, 16 sections per mile. Stock authorized $12,Sterling ITIountaln (N. Y.)—Road runs from Sterlington on the 000,000.
Erie Railway to Lakeville, 7 6 miles. Bonds guaranteed by Sterling Iron
Texas Sc New Orleans (of 1874).—Houston, Tex., to Orange
& Railway Co. Stock, $80,000.
Earuiugs in 1831-82, |$45,505; in (Sabine River), 101 miles; and Sabine City to Rockland, 104 miles;
1882-83, $43,097.
total 203 miles. Belongs to the Huntington Southern Pacific system,
Stockton Sc Copperopolis.—Present company is a consolidation,
together with the Louisiana Western. This was a reorganization, 1874,
made Nov. 17, 1877, of the Stockton A Copperopolis and the Stockton A of the old Texas A New Orleans RR. The stock is $5,000,000, and
Visalia. Line of road, Stockton to Milton and Peters to Oakdale.Cal., 49 a controlling interest is owned by tbe Southern Pacific. Iu addition to
miles. Leased to Central Pacific Railroad Company for thirty years above bonds, there are $486,507 Texas School bonds. Gross earnings
from December 30, 1874. By the terms of the lease the lessee agrees to
in 1834. $372,141, against $1,163,188 in 1883; net, $355,520, against
pay principal and interest of the bonds. Capital stock, $234,500. The $588,484. C. P. Huutfngton, President, New York. (V. 38, p. 61; V. 39, ;
company previously made default July, 1874, aud the $1,000,000 of p. 324, 734; V. 40, p. 61, 153, 305, 394, 423.)
*ld bonds were exchanged for the present issue guaranteed.
ing fund of
$100,000 per year.
$661,651 and net earnings, $259,885. Interest on
almost exclusively coal.
net, $324,014 ; int. and
Gross receipts in
Subscribers will confer a great
notes
Date
Size, or
Par
of
Road. Bonds Value.
Miles
of
1,391
Texas dk Pacific— Stock
1st mortgage, gold, coup. (E. Div.)
2d mort., consol., gold, coup. (E. Div.)
Income and land mort., E. Div.. reg
524
524
524
inst’kor land)
land grant, Rio Grande Division.
Scrip for int.oninc.mort.(red’mable
1st mort., gold,
New Orleans Pacific, 1st mortgage
General and terminal mortgage ($6,500,000)
Texas dk St. Louis in Mo.dk Ark.—1st mort., gold
due 1882 and extended
1st mortgage, gold
2d mortgage, income,
.
.
.
.
^
.
266
190
_
54
54
20
7
Div
not cumulative
Tol. Del. A B., 1st mort., Tol. to Kok
do
2d M., inc., non-cum., Tol. to
do
1st mort., Tol. terminal trust
521
336
1,487
2d mortgage, income
Tex. A St. L. in Texas, 1st mortgage, gold
do
2d M., income bonds. 1st M. on land
do
general 1st mort., gold
do
general 1st M. land grant & income.
Texas Western (N. G.)—1st mortgage
Elmira State Line Railroad mortgage
Toledo Ann Arbor dk N. Mich.—1st mort., S.
1st mort., gold, No. Div
Toledo Canada Southern dk Detroit— Stock
Toledo Cincinnati dk St. Louis—Stock
BONDS.
[Vol. XL.
discovered in these Tables.
Bonds—Princl.
INTEREST OR DIVIDENDS.
explanation of column headings, Ac., see
on first page of tables.
Tioga JtR.—lBt mortgage,
Consolidated mortgage
Extension bonds
AND
Immediate notice of any error
favor by giving
DESCRIPTION.
For
STOCKS
RAILROAD
82
Kok
“ A”
61
40
55
757
270
270
181
181
....
Outstanding
....
1,000
1,000
1,000
1,000
500
1,000
500
1,000
500
....
....
.
_
^
*.
—
.
^ .
.
.
1,000
1,000
1884
,
•
50
6
6
7
7
6
6
6
6
6
6
6
6
6
6
7
7
7
7
6
6
2,709,000
13,028,000
6,720,000
(?)
4,740,000
4,740,000
2,128,000
2,128,000
1,817,000
1,817,000
12,000 p. m.
239,500
125,000
265,000
160,000
1,260.000
800,000
1,547,662
15,000,000
2,924,000
1881
1,000
1881
1880
500 Ac.
2,706,000
1,000
1,000
1,000
1,250,000
1,250,000
1880
1880
Rate per
Cent.
$32,161,900
$....
3,874,000
1,000
9,316,000
1,000
8,862,000
1,000
1875
1875
1875
1880-1
1880
1880
1884
1881
1881
1880
1880
1881
1881
1882
1852
1876
1875
1875
1881
.
Amount
250,000
.
,
.
.
g.
g.
When
Payable
pal,When Dua
Payable, and by
Whom.
Stocks—Last
Dividend.
•
M. & S. Phila.,N.York ALondon March 1, 1905
June 1, 1905
do
do
J. & D.
July. New YorkA Philad’phia Jan. 1, 1915
....
g.
g.
g.
g.
g.
g.
g.
F. A A. N.Y., Mercantile Tr. Co.
do
do
J. & J.
do
do
A. & O.
M. A S N.Y.,Nat.Bk.of Com’rce
March.
J. A D. N.Y1 ,Nat.Bk.of Com’rce
J.
M.
F.
M.
A
A
A
A
D.
8.
A.
N.
1930
1920
1905
1911
1911
June 1. 1910
June 1, 1920
Feb. 1,
July 1,
Oct. 1,
Oct. 1,
Oct. 1,
New York.
Aug. 1, 1921
N.Y.,Nat.Bk. of Com’roe Aug. 1, 1931
1, 1922
Feb.
N.Y., Bk. of N. America.
A. A O.
A. A O.
J. A J. N. Y., Farmers’
M. A N.
L.ATr.Co
Nov. 1, 1896
Oct. 1. 1905
Oct. 1, 1895
Jan. 1, 1921
May 1, 1924
.
6 g.
T. A J.
6
J.
A J.
J.
A J.
6
6
Where
New York or London.
Boston Office.
do
do
do
do
do
do
1921
July 1, 1921
Jan. 1, 1910
Jan. 1, 1910
July
1, 1910
Gilkeson, St.
Mo.; L.
Roots, Little Rock, Ark.; T. K. Bonner,
Pacific.)—Roads from Tex¬ L. B. Fish, Tyler, Tex.; L. C. DeMorse, Texarkana, Ark.; T. J. Lowe,
arkana to Fort Worth, 253 miles; Texarkana to Fort Worth via Gilmer, Tex.; C. M. Seley, Waco, Tex. The road is a close competitor for
Sherman, 244
miles; Marshall to Shreveport, 40 miles; total traffic with the Gould Southwestern roads. The stocks have not been very
eastern division 537 miles. Fort Worth to Sierra Blanco, 524 miles ;
widely distributed, and both stock and bonds are understood to be largely
Sierra Blanco to El Paso (joint track), 92 miles; total Rio Grande held by the promoters of the enterprise and their friends.
division, 616 m.; total of both, 1,153 miles.
N. O. Pac., Shreveport to
In January, 1884, W. R. Woodward was appointed receiver on suits
N. O., 336 miles. Total of all, 1,489 miles. The eastern division ends
brought by the Central Trust Co. of New York as trustee of the mort¬
at Fort Worth, and Rio Grande division begins there; the N. O. Pacific
gages, and receivers’ certificates for about $640,000 have been issued.
terminated at Shreveport.
These suits were said to be for the purpose of a friendly foreclosure
The Texas & Pacific was built under act ot Congress of March 3,1871, to
carry out the “adjustment” proposed to the bond holders in
and other acts in 1872 to ’74, and the laws of Texas. This company suc¬ November, 1883. A different plan proposed in 1885 was referred to in
ceeded to the right of the Memphis El Paso A Pacific Railroad and other V. 40, p. 454. (Y. 38, p. 80, 220; V. 39, p. 41, 494; V. 40, p. 454.) \
companies. By a contract made in January, 1880, with the Pacific
Texas Western.—Projected from Houston, Tex., to Presidio Del
Railway Improvement Company, the road was extended towards El
Paso on the Rio Grande, to meet the Southern Pacific of California, with Norte, Tex., 900 miles, and under construction. In operation, Houston
825,000 in bonds and $25,000 in stock per mile of road. The Fidelity to Sealey, 52 miles, connecting with Gulf Col. AS. Fe RR. Stock author¬
Insurance Trust A S. D. Co. of Philadelphia are Trustees of the Rio ized, $3,000,000. Land grant 10,240 acres per mile. Fred. D. Grant.
Grande Div. mortgage. The stock authorized is $50,000,000. A con¬ President, N. Y. City.
solidation with New Orleans Pacific, share for share, was voted in May,
Tioga.—Owns from Arnot, Pa., to State line New York, 44 miles;
1881.
From the State of Texas the company received 10,240 acres
of land per mile, and by building east of Fort Worth earned 4,931,702 branch, Blossburg, Pa., to Morris’ Run, Pa., 4 miles; leased. Elmira
State Line Railroad, State line New York to Northern Central Rail¬
acres, on which the income bonds are a lien, as also a 3d mortgage on
miles; and Arnot A Pine Creek RR., Arnot to Hoytthe road east of Fort Worth. The total sales in 1883 were 205,693 acres way Junction, 7
at an average price of $2 68 per acre; total sales, including lots, amounted ville, Pa., 12 miles; total, 67 miles. Controlled by N. Y. L. E. A w.
The stock is $391,200 com. and $189,700 pref. In 1882-83, gross earn¬
to $646,006; lands yet unsold Dec. 31, 1883,4,523,349 acres. The rail¬
road lands in Texas, however, do not lie adjacent to the line of the roads ings, $524,171; net, $257,967; in 1883-84 gross, $389,841; net, $142,021;
owning them, and these are located in part in counties along the Rio interest, $57,851; surplus over all payments, $65,286.
Grande division. The R. G. Div. bonds were to be a mortgage on the lands
Toledo Ann Arbor 6c North Michigan.—(See Map.)—Own*
earned by building that division, which would have amounted to about from Toledo, O., to South Ljmns, Mich., 61 miles; Owosso to St. Louis,
5,375,000 acres if located, but the passage of a law in Texas changing Mich., 41 miles. The gap between Owosso and South Lyons, 50 miles,,
the terms of its railroad land grants put a stop to the location of lands is under construction, and an extension of 140 miles northwest from St.
by this company and many others.
Louis to Frankfort, on Lake Michigan, is projected. Stock, $1,900,000.
On income bonds the company may pay interest' in scrip at its option, The company completed during the present} ear an important line of 40
but if the option is not declared the interest must be paid in cash. Scrip miles to the lumber region of Michigan, and from the increased traffic
was issued to holders of income bonds np to July, 1881, but not in July.
accruing the net earnings of 1884 are estimated at $140,000, the in¬
1882 or 1883. In Oct., 1883, after action taken by bondholders to collect terest charge being $93,600. The following summary shows the net
interest, the company gave notice that 14 per cent scrip would be issued results of its operations in 1882 and 1883, tiie mileage being the same
for the two years to July, 1883. Some holders resisted and obtained a in each year.
1882.
18Q3.
Judgment in the U. S. Circuit Court for cash for those years. The com¬
pany appealed to the U. S. Supreme Court. The interest scrip is redeem¬ Gross earnings and rentals
$178,237
$210,067
able only in stock or in payment for land and interest at 7 per cent is
Operating expenses
99,153
100,39$
allowed on it only when turned in in payment for land. In July, 1884,
interest up to June 30 was paid in scrip.
Net earnings
$79,073
$109,673
In June, 1884, the earnings of the company were insufficient to meet Interest on bonds
$75,600
$75,600'
its interest, owing largely to the disasters by floods on the New Orleans -(V. 38, p. 737; V. 39, p. 98.)
Pacific Division. The coupons due June 1, 1884, on the consol, bonds
Toledo Canada Southern 6c Detroit.—Toledo, Ohio, to Detroit
E. D., were bought at par for the Missouri Pacific Railroad, and a com¬
prehensive scheme for funding coupons was published in V. 39, p. 97, (G.T. Junction), Mich., 55 miles. Road opened September 1, 1873. Oper¬
together with a financial exhibit as of July 1, 1884. On the Rio Grande ated by Canada Southern.
The bonds were exchanged into Canada
Division and New Orleans Pacific bonds one half of nine coupons in suc¬ Southern first mortgage bonds at 70 per cent of face value.
cession is to be funded into general 2d mortgage and terminal bonds,
Toledo Cincinnati 6c St. Ijouls.—This is the consolidated line
and the other half of each coupon paid in cash as it matures. The
coupons of the consol, mort. bonds E. Div. are to be paid, but deposited (narrow gauge) of the Toledo Delplios A Burlington and Toledo Cm. & St.
with a Trust Co., and their lien preserved as against any action by the Louis. Owns from Toledo to St. Louis, Mo., 451 miles; branch, Delpho*
to Dayton and 8hanesville br., 102 miles; Southeastern Division, 185
income bondholders. See the teirns of adjustment in Y. 39, p. 674.
The report for the year 1884 was in V. 40, p. 202, and had the following: miles; Cincinnati Division, 17 miles; Iron RR., 24 miles; total, 757 mile*
June, 1883. The interest coupons due in 1883 and 1884 on the firstINCOME ACCOUNT.
mortgage bonds, in April, 1883, were partly funded into 6 per cent scrip
1882.
1883.
1884.
due Oct., 1891.
It was proposed to exchange all income bonds for
Gross earnings
$5,919,732
$7,045,652
$5,918,756 preferred stock, in shares of $50 each,and a considerable amount was
so exchanged.
In July, 1883, Mr. E. E. Dwight was appointed receiver,
Net earnings
$1,648,007
$783,932 the
$1,343,292
company being embarrassed, and afterwards Mr. Dwight and Mr.
346,511
392,791
129,124
Other income
Craig were appointed as joint receivers of different parts of the property.
Total receipts
$1,689,803
$2,040,798
$913,056 The proposed plan of reorg mization (Quigley plan), in the Chron¬
icle, V. 38, p. 480, embraces the following points: The organi¬
Deductions—
zation of a new company and the conversion of the narrow into a
Interest on debt
$1,670,950
$1,970,085 *$1,970,190 standard
gauge track. A first mortgage will be made for $6,750,000
287,152
Taxes and other charges
137,333
244,317
($15,000 per mile), the bonds to run 40 years and bear 6 per cent
Texas 6c
Louis,
Pacific.—(See Map Missouri
H.
fifty years,
January 1,
for old stock and bond*
572,647,680. 764; V. 39. p. 11, 84,
bonds (Corbin plan)
V. 40, p. 183,
of Issuing new
241, 302.)
mortgage bonds at $8,000 per mile on the St. Louis Division and giving
Texas 6c St. Lonls in Missouri and Arkansas.—Narrow- the
present first mortgage bondholders preferred stock in place or their
gauge road from Birds Point. Mo., opposite Cairo, Ill., to Texarkana, mortgage bonds.
Tex., 419 miles, and thence by the “Texas & St Louis RR. in Texas” to
At Cincinnati, June 26, by order of the Uniteu States Circuit
Gatesville, 304 miles; total, main line, 723 miles; branches, Paw Paw
Court, four divisions of the Toledo Cincinnati A St. Louis narrowto New Madrid, 6 miles; McNeil to Magnolia, 6 miles; total, 735 miles.
gauge system were sold to satisfy judgments. The Cincinnati Division
Capital stock is $9,582,500 (par $100), which amount includes $3,945,
(18 miles) was sold for $20,000 to George N. Smalley of Watertown,
000 deposited in trust to take up a like amount ot the old stock of the
Mass., on behalf of a committee of first mortgage bondbo ers of that
Texas A St. Louis in Texas. Also enough of the general first mortgage division. The next was the Dayton Division (96 miles), w ch sold for
and general income bonds are reserved to retire the old first mortgage
$125,000 to a committee on behalf of the bondholders. The Dayton &
and incomes. The company issues $12,500 per mile in 1st mortgage Southeastern Division (180 miles) was sold for $500,000 to a committee
bonds, $12,500 incomes ana $12,500 stock, and the incomes are a 1st of bondholders. The last sold was the Iron Railroad and its branches
mortgage on the land grant and a 2d mortgage on the road. Land grant (18 miles) for $500,000 to a committee of bondholders. The reorgan¬
was 10.240 acres for each mile of finished road in Texas, hut only about
ized Southeastern Division will be found under the title Dayton & Iron1,000,000 acres are assured. The road was opened in 1883.
ton. (V. 33, p. 104,178, 196, 250, 350, 379,412, 456, 480, 510, 541, 562,
The company has been managed entirely by Western and Southern
596, 608, 620,647 V. 39, p. 22, 49. 72,98.158,183.210,296,402,
men, Mr. J. w. Paramore, of St. Louis, being its President, and tbe
4i6, 462, 494, 514; V. 40, p. 61, 94, 153, 181, 241, 427, 454.)
hoard of directors as follows: J. W. Paramore, W. M. Senter, J. M.
Total deductions
$1,808,283
$2,214,402
Deficit
$118,480
$173,604
*
Full interest charge, but not all paid, partly funded.
—(V. 38, p. 296, 331, 357, 447, 510,
97. 129, 235, 325, 350, 382,402,436, 494, 581, 607, 674;
$2,257,342
$1,344,286
interest. The second mortgage will be for $7,000,000, to run
and bear interest at 4 per cent from January 1,1888, to
1893 and 6 per cent thereafter. The exchange
to be made as there stated.The other plan for Toledo Cincinnati A St Louis
was in V. 38, p. 596, and embraces the general idea
April, 1885.]
RAILROAD
STOCKS AND BONDS.
83
RAILROAD
84
confer a great favor
Subscribers will
DESCRIPTION.
For
headings, Ac., see notes
explanation of column
on
18-324
of tables.
first page
Div., income, non-cum..
,
Equipment bonds
Iron RR., 1st mortgage
do
do
do
incomes
Tonawanda Valley <£ Cuba—1st
Troy dk Boston—1st mortgage,
New mortgage
bonds (for
Clearfield—Stock
mort. ($500,000)..
consolidated
$1,000,000)
18324.
60
35
53
64
Date
of
1881
1881
1881
1881
1881
1874
1878
Size, or
Par
Value.
$1,000
1875
1875
429
Companies—Stock
238
currency, coup
mortgage, sinking fund, registered..
do
sterling loan mortgage, sinking fund
do
do
do
do
do
do
dollar loan, mortgage
do
gold loan, reg
Joint Co.’s plain bonds
United Co.’s
consol, mort. (siuk’g fund after 1880)
N. J. RR. A T. Co., 3d loan due State of N. J
1,820
do
1883
1873
1871
1871
1871
1871
1878
1854
1862
1868
Union Pacific—Stock
1,038 1866-9
1st mortgage,6
9-6
gold, on road 81
1,038
2d mortgage currency
1874
1,038
3d
do
land),
on road (2d on 8
-7
6
1
Land grant bonds
1871
Omaha bridge bds, st’g, (s.f. about
1879
and equipment
(Government subsidy)...
sinking fund.
$65,000 yrly)
Collateral Trust bonds
Collateral trust Donds of 1883, gold
Kans. Pac.,cons. M..,g.(for $30,000,000),cp.or rg
do
1st M.. g, cp., on 140m. west Mo. Riv
1883
1879
140
1865
1,000
1.000
1,000
1,000
100 Ac.
100
1,000
1,000
655.)
Boston.—Owns from Troy, N.
Passenger
1,824,000
5,669,000
2,000,000
1,846,000
1,800,000
27,229,000
1,000
27,236,512
i',o'o’o
3,360,000
£200
1,000
1.000
1,716,000
4,662,000
3,719,000
1,000
15,927,005
1.000
Earnings. Earnings.
$523,547 $213,766
J.
Boston Office,
do
do
do
do
do
do
New York Office.
1.
S.
J. N. Y., Nat.
do
O.
B’k of Com.
do
Phila., 233 South
S*
I6'
Princeton, N. J.
J. & D.
Philadelphia Offic9.
M. A N.
6
A. A O. N. Y., B’k of Commerce.
6
Q.-J. New York and Boston.
do
do
6 g. J. A J.
J. & J. U.S. Treas., at maturity.
6
M. A S. New York and Boston.
8
do
do
A. & O.
7
A. & O. London A New York.
J. A J. N. Y., Union Trust Co.
J. & D. Boston, N. Engl’d Tr.Co.
5
6 g- M. & N. N. Y., 195 Broadway,
do
do
6 g. F. & A.
!g-
2,240,000
then changed to
Stocks—Last
Dividend.
April 1, 1925
1901
1911
Sept. 1. 1932
1924
1903
(?)
4th.
I8'
14,621,000
ern” in 1861;
Whom.
J. AJ.
J. A J. Rondout, Co.’s Office.
New York.
F. & A.
2ifl
Q.-J. Phila. and N. Y. Offices.
Philadelphia Office,
F. A A.
4
do
do
M. A S.
A. & O. Phila., Pennsylv’a RR.
London,
6 g. M. & S.
do
M. & 8.
F. & A. Phila., Penn. RR. Office,
do
M. A S.
21,240,400
60.863,500
J. A
Jan.
M. &
J. &
A. &
Payable, and by
5
7
7
200.000
100
Where
When
Payable
2^
1,400,000
1,000
Y., to Vermont State line, 35
Mileage.
500,000
325,000
1,424,000
925,000
1,000,000
1,000,000
100,000
miles; Troy & Bennington, 5 miles;
miles; total operated, 53 miles.
1st and 2d morts., and 2d
$319,000 of other issues of bonds out¬
standing Sept., 1884. Stock, $1,623,110. In 1883-4 def. over all
charges was $27,008. Operations and earnings for three years pastNet
were:
Freight (ton)
Gross
miles; leased: Southern Vermont 5
Vermont State line to North Adams, 6
The 1st consol, bonds are used to redeem
consols, to redeem floating debt.
6
7
6
6
6
7
7
$209,000
2,052,000
5,000,000
from Attica, N. Y. to Cuba*
listed at New York Stock
Exchange December, 1882.
$113,000 of 1st mort. bonds are reserved
to redeem same amount of 6 per cent bonds due 1910.
Gross earnings in
1883-84, $50,332; deficit, $42,255. R. G. Taylor, Buffalo. N. Y., Pres.
Troy Sc
Rate per
Cent.
154,000
841,000
866,000
Tonawanda Valley Sc Cuba.—Owns
N. Y., 60 miles. Stock $o87,100. Securities
(V. 39, p.
Amoimt
Outstanding
500.000
1,000
*74
1st mortgage
Ulster <& Delaware—1st mortgage
2d mortgage income bonds
United N. J. RR. <£ Canal
Gold bonds
General mortg.,gola and
Bonds—Princi¬
immediate notice of any
error discovered in these Tables.
INTEREST OR DIVIDENDS.
pal,^When Due.
Road. Bonds
Louis—(Continued)—
Toledo Cincinnati <£ St.
Tol. Del. & B Cincinnati
Tyrone <6
by giving
Miles
of
|V0L. XL.
STOCKS AND BONDS
July 1, 1905
July 1, 1905
Apr. 10, 1885
Feb.
Mch.
Oct.
Mch.
Mch.
Feb.
1, 1923
1,
1,
1,
1,
1,
1901
1894
1894
1894
1888
Sept. 1, 1908
jan.
1, 1889
Nov. 1. 1889
Overdue.
April 1, 1884
1896 to 1899
1896 to 1899
Sept. 1, 1893
1887-’89
April, 1896
July 1, 1908
Dec. 1, 1907
May 1, 1919
Aug. 1, 1895
“Union Pacific, Eastern Division,” June
3, 1869. The Pacific Rail¬
road, and gave it a subsidy
6, 1863, and to “ Kansas Pacific” on March
road acts of 1862 and 1864 applied to this
of $6,303,000 and a land grant of about
6,000,000 acres.
106 miles—was built under
E. D. (Kansas Pacific), and opened
January 1, 1871. The stock of $4,000,000 went into this consolidation
January 1880, and the bonds are retired with the consolidated mort¬
gage of the Kansas Pacific.
As to the debt of the Pacific railroads to the United States Govern¬
ment a decision of the U. 8. Supreme Court settled the poiut that the
payment of interest on the loans was not obligatory on the companies
till the principal of the bonds became due. Afterwards Congress passed
the Thurman Act, May 7, 1878, which, for the Union Pacific, provided
that 25 per cent of the net earnings, after deducting interest on the
first mortgage bonds, should be paid annually to the Government as fol¬
The Denver Pacific—Denver to Cheyenne,
the charter of the Union Pacific,
Govern¬
interest
Second—To be placed in the sinking fund—
483,561
16,733,352
6,544,500
53
Government earnings and so much of $850,000 as
—(V. 39, p. 202.)
maybe necessary to make all the payments by the company equal 25
Tyrone Sc Clearfield.—East Tyrone Pa., to Curwensville, Pa., 44 per cent of its net earnings.
miles; branches, 20 miles; total, 64 miles. This company was organized
Stock and Bonds.—The capital stock issued and outstanding is
April 1,1867, after sale in foreclosure. Road completed m 1872. It $60,868,500. having been increased about $10,000,000 since the consoli¬
leased to the Pennsylvania Railroad in 1878 and new lease made dation in 1880. Dividends since 1879 have been as follows: in 1880, 6
In 1382. J. N. Du Barry, President, Philadelphia, Pa.
per cent; in 1881, 63*; in 1882, 7; in 1883,7; in 1884, 31e.
The yearly range in prices of the stock has been—In 1880, 80®113%;
Ulster Sc Delaware.—Owns from Rondout (Hudson River), N. Y.
to Stamford, N. Y., 74 miles. This was the Rondout A Oswego in 1876 ’» in 1881, 105^3)131^; in 1882, 98i4@119%; in 1883, 70is®1043t; in
reorganized May 28,1872, as New York Kingston & Syracuse, and again* 1884, 28®845e; in 1885 to April 18 41a5l5s.
By act of Congress of July 2, 1864, the. Government loan was made ft
after foreclosure, May 1, 1875, as Ulster Sc Delaware. The stock is
second lien and the company’s first mortgage bonds to the same amount
$1,152,100. There are also $50,000 realnet
estate
inortg.$80,404.
bonds.
In
1883Thomas
earnings
made a first lien on the roads. The Union Pacific land bonds are
84 the gross earnings were $316,884;
retired rapidly with proceeds of land sales.
Cornell is President, Rondout, N. Y.
Of the Union Pacific collateral trust bonds, the flrstissue wos limited to
United New Jersey Railroad Sc Canal Co.—Lines of Road.—
80 per cent of the following bonds: Omaha & Republican Valley RR.,
New York to Philadelphia and branches, 135 miles; Camden to Amboy
and branches, 226 miles; Trenton to Manunka Chunk and branches, $850,000; Colorado Central Railroad bonds, $2,526,000; Utah Northern
Railroad, about $3,480,000; total, $6,856,000. The collateral trust
81 miles; total operated, 443 miles. Delaware & Raritan Canal, 66
bonds of 1883 are secured by the following bonds: Colorado Central RR.
miles.
This company was formed by a consolidation in 1867 of the Delaware A $2,146,000 ; Utah Sc Northern RR. $2,353,000; Omaha & Rep. Valley
RR. $419,000; Utah Southern RR. extension $975,000; Denver South
Raritan Canal Company, the Camden & Amboy Railroad, and the New
Park Sc Pacific RR. $1,544,000; Kansas Central RR. $1,162,000 ;
Jersey Railroad & Transportation Company. The United New Jersey
Railroad & Canal Companies were leased in May, 1871, to the Penn¬ total $8,899,000.
The outstanding bonds of Kansas Pacific above are given less the
sylvania Railroad for 999 years, at a rental of 10 per cent on the amounts of each class held by the trustees of the general mort. The con¬
stock, oesides interest on bonds. The smaller leased roads were taken
sol. mortg. trustees' are Jay Gould and Russell Sage, and they held in
with their several contracts. The Belvidere Delaware was leased to the
Jan. 1, 1885, the following bonds or the Kansas Pacific, making
Pennsylvania Railroad March 7,1876, and since January 1,1877, has trust
been operated as the Belvidere Division of United New Jersey Railroad $6,585,950 in all, viz.: Leavenworth Branch, $568,000; income (unsub¬
ordinated) bonds. $215,350; income (subordinated) bonds, $3,751,600;
svstem. The net earnings are paid over to the lessors in lull as rental.
lease has not been profitable in cash receipts to the Pennsylvania Cheyenne Branch Den. Pac. bonds, $2,051,000. They also held $1,892,Railroad, and the net loss in 1879 wras $939,889 ; in 1880, $1,035,308 ; 700 of the stocks and $3,158,000 of the bonds of other companies
controlled by the Union Pacific.
in 1881, $302,864; in 1882, $568,759; in 1883, $635,914; but the con¬
Land Grant.—The lands on the Union Pacific main line are applicable
nection with New York was indispensable. Operations and earnings for
to the principal ot the Land grant bonds, and after those to the sinking
five years past (including the canal) were as follows:
Fr’ght (t’ns)
Gross
Div.. fuud mortgage 8 per cent bonds, and after those to the sinking fund mort
Passenger
Net
Years. Miles.
Mileage.
Mileage.
Earnings. Earnings, p. ct. 8 per cent bonds, and these bunds are to be retired with the proceeds of
1881
197,366,974 480,995,398 $13,022,864 $4,211.5«0
10 lands. On the Kansas Pacific the cash income from land is applied to
429 227,938,390 521,869,010 14,231,458
4,062,363 10 the interest on the general mortgage bonds, and after that towards prin¬
435 238,561,431 542,827,918 14,956,596
4.151,682 10 cipal.
To Dec. 31. i884, the company had, either in cash or contracts,
sum of $12,549,449, being $9,189,449 in excess of what was needed
3,960,043 10 the
443 248,789,706 552,423,171 14,709,887
Union Pacific Railway,—(See Map.)— Lines of Road.—Main to discharge at maturity the balance of the original land grant bonds.
The sales in 1883 and 1884 were as follows :line—Council Bluffs to Ogden and branches, 1,049 miles; other
Union Pacific—
1884.
1883.
branches—Kansas City to Denver. 643; Denver to Cheyenne, 106;
4,321,043
805,833
Leavenworth to Lawrence, 34; total owned, 1,832 miles; controlled Acres sold (net)
$6,517,773
$2,436,767
and operated in the Union Paefle system January, 1885—Omaha A Amount (net)
$3 11
price
$1 52
Repub. Valley RR., 237 miles; OmaliaN. Sc Black Hills RR., 114: Color¬ Average
Kan. Pacificado Central RR., 327; Echo & Park City RR., 32; Utah & Northern RR.,
Acres sold (net)
218,185
452,566
462; Lawrence Sc Emporia RR., 31; Junction City & Ft. Kearney. 87;
Amount (net)
$965,557
$1,917,876
8olomon RR., 57; Salina Sc Soutliw’n, 36: Kan. Cen., 167; Den. Sc Boulder
$4 21^
price
$4 41*9
Valley., 27; Golden Boulder & Car., 6; Oregon 8hort Line and branch, Average
Total—
•
610; Greeley Salt Lake Sc Pacific, 54; Denver South Park Sc Pacific. 321;
Acres sold
4,773,609
1,024,018
Balt Lake & Western, 57; Georgetown Breckenridge Sc Leadville. 8 miles;
$8,435,649
$3,402,324
Montana Railway, 9 miles; total thus controlled, 2,644 miles; total oper¬ Amount
The Kansas Pacific lands, from the 380th mile westward, are covered
ated in the U. P. system Jan. 1, 1885, 4,476 miles.
The Central Branch Union Pacific and leased lines (388 miles) are first by the Denver Division mortgage, and all the lands of the Kan. Pae.
operated by the Missouri Pacific imder an agreement with Union Pacific by the consol, mortgage.
The large amount of sales during 1884 was owing to the sale by the
(terminable on six months’ notice), and not included in the mileage oper¬
ated by Union Pacific. The U. P. also has large interests in the 8t. Jos. Union Pacific land department of large tracts of grazing lands at a low
& West. RR., 251 miles: the Utah Central 280 m.; Leavenworth Topeka price per acre.
Land sales for three months in 1885 and 1884 were as follows:
Sc S. W., 47 m.; Manhattan Alma Sc Burlingame, 56 m ; Manhattan Sc
Union Pacific—
1884.
1885.
Blue Valley, 11m. and Nevada Central, 93 m.; total, 738 miles, all of
Acres sold
580,756
156,819
which are operated separately.
$263,940
$1,419,386
Organization, Ac.—This company, the Union Pacific Railway, was Receipts
Kansas Pacificformed by a consolidation, January 24,1880, of the Union Pacific Rail¬
sold
95,330
86,425
road and the Kausas Pacific and Denver Pacific, made under authority Acres
$391,180
$394,880
of the acts of Congress of July 1,1862 and July 2,1864. New stock Receipts
Operations, Finances, &c.—The Union Pacific has made large earn¬
issued for the old stock of the three companies, but their bonds
remained unchanged. The Union Pacific Railroad was chartered by ings and until 1883 and 1884 operated its road at a low percentage of
Act of Congress of July 1,1862, which gave the company a land grant expenses. The company has extended rapidly and built and acquired
of 12,800 acres per mile, estimated at a total of 12,083,227 acres, and a much new mileage, of which the Utah Northern and Oregon 8hort Line
are two of the most important branches.
It is not yet possible to estisubsidy in U. S.bonds of $27,236,512 on 1,033 miles of road.
The Kansas Pacific was organized as “ Leavenworth Pawnee Sc West
Years.
Miles.
53
53
Mileage.
7,315,713
7,313,014
24,979,268
25,965,501
560,820
205,323
192,539
lows : First—Applied directly
ment earnings and 5 per cent
on first mortgage bonds.
the other half of the
was
were
on
ne
was
-
to interest account, one-half of
of net earnings, after deducting
BASROTANILCDOKSD,
l /4
c“rson
fwS»?
Yie
j>- (•V /
r'A'“I,:- U"Kka
SinjMz
MAP
OF THE
iANTA
\
ll
j/
‘iiisleia
UNION PACIFIC
c
■
^^buquerjue
1A8p5ri.l,]
y
Kapanola//
c
Q
It
|
L
MIA
RAILWAY.
jA
r« r
explanation of column headings, &c., see
on first page of tables.
notes
Size, or
Miles Date
Par
of
of
Road. Bonds. Value.
Outstanding
$L,000
$4,063,000
'Union Pacific—( Continued)—
Kansas Pac*., 1st mort., gold, 140th to 393d mile,
do
2d M.(to U.S.Gov.) on 394m.W. Mo.R.
do 1st,394th to 639th m., l.g., 3,000,000 acs
do
1st mort., coup., (Leavenworth Br.)..
do
Income bds, coup., 3d M.on 427 miles
Utah Central—Stock
1st mortgage,
427
'
36^
gold
105
138
37
462
180
87
36
16
10
98
31
6o
12
Mortgage bonds
Black River & Morristown, 1st mortgage
Clayton Sc Theresa, 1st mortgage, guaranteed
Ogdensburg & Morristown, 1st mortgage
Utica Chenango <£• Susquehanna Valley—Stock
Utica Clinton <£• Binghamton—1st mortgage
gold
Valley (N. Y.)—Stock
Amount
1878
1,000
5,513,000
2,017,000
1,107.000
500,000
500 &c.
200,000
143,000
1,000
1883
’6 6-’72
1880
Consol, mortgage
113
59
Valley (Taj—1st mortgage
Vermont <£■ Massachusetts—Stock.
1881
1,000
1872
1883
1,000
Fitchburg RR.)...
1880
1,000
1,000.000
24
Pacific lines
the Oregon
not opened
it
800,000
January,
e
1882.
1883.
1884.
1,82 L
1,821
1,832
$
4,110,310
$
$
Namings—
4,545,348
5,054,344
Passenger—Cash
Government
143,386
Freight— Cash
13,543,841
12,596,584
11,075,841
342,957
1,328,751
2,075,134
347,602
2.098,063
22,823.884
10,727,049
21,002,542
10,354,541
17,970,970
9,160,086
4 12,096,835
10,6 48.001
8,870,884
Company
Mail, express, &c
Total gross earnings
Total op. exp. (incl’d’g taxes).
47-00
to earnings
INCOME
$
12,096.835
Receipts—
Net earnings
Interest and dividends
Int. repaid by Kan. Pac.
Miscellaneous
2,211,099
trust.
Total income
IHsbursements—
Interest on debt
Discount, int’st, and exchange
Dividends
Bate per cent, of
dividend
Sinking funds
Due U. S. on year’s business..
Miscellaneous
Total disbursements
Balance, surplus
258,275
14,566,209
50 64
1884,
$
616.700
$
8,870,88 4
1,736,915
649,415
16,677
73.930
13,348,060
11,331,174
$
5,312,011
139,630
5,397,071
4,260,788
1,065,197
$
5,234,479
172,722
4,260,788
.
m
7
4
2,340,107
366,077
1%
591,540
1,187,110
84,837
12.214,734
1,133,326
8,691,832
2.639,342
2,097,190
18,923
12,226.102
$
476,489
1,869,958
155,858
442,000
The income account was slightly changed in form for 1884,
on both sides of the aocount the interest received
sas Pacific trust.
*
GENERAL BALANCE AT CLOSE
Assets—
Road, equip’t. &c
Stocks and bonds owned, cost.
Miscellaneous investments....
Advances
Materials, fuel, &c
Denver Extension sink’g fund
Bonds and stocks held in trust
Land department assets
Total
Liabilities—
Stock
Funded debt
United States subsidy bonds...
Accrued int. on subsidy bonds
Floating debt
Interest accrued not due
General income
Income used for sinking fund.
Land and trust income
Total liabilities
mainly
from Kan¬
by placing
OF EACH FISCAL TEAR.
1884.
1883.
$
157,3 *1,640
*33,667,827
233,143
5,645,715
2,557,564
289,000
3,210,950
9,214,104
212,259,943
$
60,868,500
84,506,332
33,539,512
13,868,041
$
158,918,607
*37,409,325
620,640
4,797,936
1,220,612
407,000
3,215.200
15,654;203
222,333,523
$
60,863,500
84.173,285
33,539,512
15,324,738
3,237,697
3.482,656
795,915
t7,692,810
1,791,488
5,714,689
788,671
17,837,350
2,383,029
14,180,742
212,259,943
222,333,523
*
The par value of these stocks and bonds was in 1883,
in 1884 $67,220,647.
t After deducting $562,310 in 1883 and $1,451,215 in
Of U. S. requirements.
$62,612,447 and
1884, the deficit
—(V. 38, p. 29, 31. 62, 87, 116, 149, 214. 230, 273, 291, 296, 313, 332,
447,456,467,468, 479, 480, 510,541, 582, 596, 639, 680, 690.
707,739, 764; V. 39, p 23,73, 85, 98, 129. 183 197, 235,297,310.
325, 350, 382,393,402, 436, 493, 505, 522, 554, 655, 682. 695, 708 ; V
40, p. 41, 61, 85, 144. 183, 214, 233, 321, 364, 3b0, 385, 391, 427, 454,
482.#
Utah Central—(See map Un. Pacific)— From Ogden, Utah, to Frisco,
280 miles. A consolidation July 1, 1881, of the Utah Central. Utah
Southern and Utah Southern Extension. Stock is $4,225,000 and 2 pel
359
July 1, 1908
Sept. 30,1884
Jan. 1, 1891
J. Utica & N.Y.Bk.of Com.
July 1, 1898
Jan. 1, 1891
&
&
&
A
&
•
.
•
Jan.
1, 1894
Utica.
J.
Nov. 1, 1884
N. N. Y., D. L. <fc W. RR.
J. N. Y„ Cont. Nat. Bank. 1886 & 1890
Jan. 1, 1911
J.
N. Y., D. L. & W.
During 1884
do
do
Aug. 1, 1911
1906
D.
1921
New York.
S.
Oct. 1, 1921
Balt, and Newr York.
O.
Boston, Office.
April 7, 1885
G.
July 1, 1885
J. Boston, Fitchburg RR.
do
do
May 1, 1903
N.
Jan. 1, 1885
Bellows Falls.
.
1, 1910
O. Bost., SafeDep. &Tr.Co Oct.
•
....
7
5
J. <fc
M. &
A. &
A. &
J. &
M. &
3
5
A. &
.
Utah & Northern—(See map Union Pacific)—From
to Garrison, and the line of Northern Pacific, with
1S84,
Ogden, Utah,
branches to Butte
City and Anaconda Mines ; total, 466 miles. This road forms a connec¬
tion between the Northern Pacific at Garrisons, Montana, and the Union
Pacific at Ogden. Stock $5,543,000, and 6 per cent dividend paid in
1884. The road was built by
stock and $4,968,000
bonds.
$1,969,207; net. $778,681; in
interest, dividends, &c.,
Union Pacific, which owns $4,816,400
For the year 1883, gross earnings,
1884, gross. $1,993,577; net, $884,94J;
; surplus. $150,636.
$734,311
Utica Sc Black River.—Owns from Utica, N. Y., to Philadel
phia, N. Y., 87 miles; leased lines to Morristown, N. Yr., to Ogdens
burg, to Sackett’s Harbor and to Clayton, 93 miles in all; total oper
ated, 180 miles. The company lias paid its rentals and moderate divi¬
a number of years.
The income account for the year ending
September 30, 1883, showed a balance of $11,742 over all payments,
including 7 per cent dividends. The surplus of the company is chiefly
represented by advances to leased lines. The Ogdenshurg extension is
doing wTell, and promises to lie a good investment.
Operations and
earnings for three years past wrere as follows:
dends for
1883.
10,648,001
2,066,682
& J. New York. 195 Br’dway.
Utica.
S.
& J. N.Y., Nat.Bk.of Com’ce.
do
do
& J.
&
3, 1880, and this company organized. Gross earnings in
$37,125; net. $ L1,500. Sidney Dillon, President, New York City.
ACCOUNT.*
1882.
Jan.
Nov.
236,867
4930
,
5
5
5
7
6
6
3
'
Oct., 1884.
1, 1890
July 1, 1909
July 1, 1909
Y., 195 Broadway.
do
do
do
do
do
do
In 1882 gross receipts $1,531,486; net. $897,949. In
$1,174,737; net, $756,212. In 1884 gross earnings were
$1,038,938; net, $478,333. (V. 38, p. 412; V. 39, p. 350; V. 40, p. 281.)
Utali Sc Nevada.—Owns from Salt Lake City, U. T., to Terminus
U. T., 37 miles. The Utah Western made default January 1, 1878, ana
the road was held by trustees for the bondholders, and was foreclosed
102,257
361,648
1,496,678
2,223,987
Government
Net earnings
Per ct. of op. exp.
113,768
N.
& J.
& J.
A J.
J.
M.
J.
J.
J.
J.
M.
J.
J.
1, 1896
July 1, 1916
S. N. Y.,Bk. of Commerce
M. &
J.
J.
J.
May 1, 1899
Jan
1883, gross,
FISCAL RESULTS.
operated
June 1, 1896
1895 to’97
& D. New York,195 Br’dway.
Payable h by transportation.
M. & N. N. Y., Loud. & Frankf’t.
M. & N. New York, 195 B’way.
paid in 18 S4.
cent
about $967,466, and was paid in full in April.
For two mont’is from Jan. 1, 1885. gross earnings were $3,238,898,
against $3,072,448 in 1884; net, $867,274, against $ 123,789.
The earnings below cover only the main road in each year:
Miles
18-324
150.000
1,000,000
Stocks—Last
Dividend.
J.
7
2
7
7
'
7
5
3
6 & 7
3,050,000
pal,When Due.
Payable, and by
Whom.
Payable
Q- -J.
6 g.
7
7
600,000
750,000
400,000
1,600,000
600,000
750,000
100
mate the final effect of the competition of the several new
Oi- the traffic of this road, nor the benefit to be derived from
8ho t Line, which was a heavy charge for some time, as
was
throu h to a connection with Oregon till November, 18 84.
The c aim of the Government for arrearages wTas decided in
i
790,000
18«1
1879
1831
1st mortgage
Valley (Ohio)—1st mortgage
1885, to
4,000.000
100
500 Ac.
Where
When
1
4,225,000
1,000,000
1,950.000
1,950,000
555,860
100
1871
1874
18-243.
260,050
50 Ac.
100
1,000
1,000
1,000
6 g.
6
6 g.
7
7
32,000
1,000
1870
1879
1879
Rate per
Cent.
6,303,000
6,279,000
1,000
280
Utah Southern, general mortg. (f^r $1,950,000)..
Utah South. Exten., 1st M., Juab to Frisco
"Utah <£ Nevada—Stock
Utah <& Northern.—1st mortgage
Utica <£ Black River—Stock
Utica Ithaca <£ Elmira—1st mortgage,
1866
1865-7
1869
1866
1866
253
394
245
34
.
Convertible bonds
Bonds of 1883 (guaranteed by
Vermont Valley of 1871—Stock
1st mortgage
discovered In these Tables#
Bo ads—Princi¬
INTEREST OR DIVIDENDS.
DESCRIPTION.
For
[Vol. XL.
immediate notice of any error
favor by giving
Subscribers will confer a great
BONDS.
AKD
STOCKS
RAILROAD
86
Net
Freight (ton; Gross
Div.
Mileage. Earnings. Earnings, p. ct.
8.599,023
15,224,870 $766,463 $323,011
5
180
180
827,407
9,449,809 20,425,186
285,410 7
10,258,386 31,733,099
830,835
180
232,372 6
Utica Chenango ^Susquehanna Valley.—Owns from Utioa,
N. Y., to Greene, N. Y., 76 miles; branch to Richfield Springs, 22 miles;
total, 98 miles. Road opened October, 1872. Leased to Del. Lack. &
Western at 6 per cent on stock. Has no bonded debt. (V. 38, p. 705.)
Utica Clinton Sc Binghamton.—Owns from Utica, N.Y., to
Randallville, N. Y., 31 miles, and leases Rome & Clinton Railroad, 13
miles.
Total, 44 miles. Opened June 22, 1872, and leased to New
York & Oswego Midland Railroad.
The lease was transferred to
the Delaware & Hudson Canal.Co., which pays the rental of $70,500 per
The road was
annum for U. Cl & B. and $25,500 for Rome <sc Clinton.
operated by the Del. Lack. <fc West, till April 1,1883.
Gross earnings
in 1882-83, $199,600; net. $94,030. Gross in 1883-4, $214,371 ; net,
$99,468. Capitul stock, $636,285.
Isaac Maynard, Pres., Utica, N. Y.
Utica Ithaca Sc Elmira.—Elmira, N. Y., to Cortland, N. Y., 71
miles, of which Elmira to Horseheads, 5 miles leased. Organized May
11, 1873, as successor of the U. I. & E. RR Co., which was foreclosed
April 30. 1878. Stock is $2,000,000. Gross earnings 1882-83, $147,820;
def., $11,475; gross, 1883-84, $74,376; def., $48,386. Austin Corbin,
Miles.
Years
Passenger
Mileage.
..
.
..
President, Non York City.
Valley (N. V.)
Railroad.—Owns from Binghamton, N. Y., to State
line of Pennsylvania. 12 miles.
Opened October, 1871.
Leased to
Delaware Lackawanna & Western at 8 per cent per annum on stook,
which was reduced in 1882 to 5 per cent, the lessee assuming the interest
on
bonds.
Samuel Sloan, President, New
York City.
(V. 38, p.705.)
Cleveland, O., to Wheeling Junction, O.,
debt and car
$116,798.
Stook, $1,042,302.
Valley (Va.)— Owns from Harrisonburg to Salem, Va., 113 miles.
In 1883 it was extended from Staunton to Lexiugton, 36 miles. By
tills and connecting lines under B. & O. control, the distance from Lex¬
ington is 243 miles to Baltimore and 217 miles to Washington. The
Baltimore & Ohio has a large interest in its securities. Earnings, 1881-82,
$56,772; net, $13,412. In 1833-84, gross, $110,400; net, $34,837.
Vermont Sc Massachusetts.—Line of road, Fitchburg to Green¬
field, Maes., 56 miles: branch, 3 miles. The road is leased to the Fitch¬
Valley (Ohio).—Owns from
76 miles, and 9*2 miles of small branches. The temporary
trust amount rt> $663,541. Earnings in 1881, $275,673; net,
In 1882, gross, $367,737; net, $176,494.
burg RR. for 999 years at 6 per cent.
Vermont Valley of 1871.—Owns from Bellows Falls to Brattleboro. Vt., 24 miles, and by purchase of stock the Sullivan County
RR. from Bellows Falls to Windsor, Vt., 26 miles; total, 50 miles. Con¬
trolled in the interest of the Connecticut River RR. The Sullivan
County RR. stock is deposited as collateral security for the above
mort. bonds.
Earnings, &e., for three years ending March 31 were:
Years.
Passenger
Miles.
Mileage.
50
3,481,202,
50
4,056.025
50
4,555,171
Freight (ton)
Mileage.
18.107,974
22.622,270
20,864,921
Gross earnings for si*c months to Sept.
$133,917; net, $73,148.
Gross
Net Divid’d,
Eamiugs. Earnings. Per et.
$366,967
$87,187
4
407,999
149,526
5
393,614
113.784
6
30, 1884, $207,065; expenses,
RAILROAD STOCKS AND BONDS
1885.]
April,
Subscribers will confer
a
great favor by giving immediate notice of any error discovered in these Tables.
DESCRIPTION.
For
explanation of column Leadings, &c., see notes
on first page of tables.
Miles
of
Road.
140
140
140
354
Vicksburg & Mtridian—1st mortgage...
2d mortgage
3d mortgage income (not cumulative).
Virginia Midland— Stock
Bonds, 1st series
2d series
do
do
do
do
do
Income
3d series
4 tli series
....
5tli8erie8
6th series
bonds, cumulative....
Virginia & Truckee— istM.(pay’ble $100,000 ay< ar)
Wabash St. Louis <& Pacific—Stock, common
Preferred stock, 7 percent (not cumulative)
Receivers’ certificates
General mortgage, gold (for $50,000,000)
Collateral trust bonds coup, (see remarks)
let mort. bonds on Champaign Ilav. & West
do
pref., convertible
1st mort., gold, on Cliic. & Strawu (Chic. Div.)...
1st mort., gold, on Cairo Division
1st mort., gold, Detroit Division
1st mort., gold, Indianapolis Division
Indianapolis Peru & Chic.. 1st mortgage
Hav. Rantoul & East, 1st mortgage
1st mort., gold, Iowa Division
Wabash, 1st mort. (Toledo & Illinois)
do
l8tmort. (Lake Erie Wab. <fc St. L.)
do
do
1st
1st mort. (Great Western of 1859)
1st mort. (Quincy & Toledo)
52
Date
Size, or
Par
of
Bouds Value.
1881
1881
1881
.
100
1,000
3,659,102
1374
1,000
500,000
100
100
27,372,500
23,034,200
1884
1880
1883
1880
1879
1880
1881
1881
1881
1,900;000
1,100,000
•
-
•
1,775,000
1,3'0,000
1,000
1,000
1,000
3,857,000
2,052,000
2,000,000
275,000
300,000
2,269,000
900,000
2,500,000
2,496,000
500,000
1,000
1,000
1853
1863
1,000
1,000
1,000
1,000
1865
1,000
1881
1853
gold bonds; $1,100,000 of second
against the company for
Gordonsville, including Warrenton Branch and lease of Charlottesville
Rapidan RR., and a second lien between Charlottesville aud Lynch¬
burg; the fourth series is a fourth lien between Alexandria and Gordons¬
ville, including Warrenton Brauch and lease of Charlottesville As Rapidau
RR., and a third lien between Charlottesville and Lynchburg; the fifth
series is a first lien between Manassas Junction aud Harrisonburg, in¬
cluding Front Roj al Brauch aud lease of road from Strasburg to Harriseonburg to the B. At O. RR., and a, fifth lien between Alexandria and
Gordonsville, including Warrenton B-anch and lease of Charlottesville
& Rapidan RR., and a fourth lien between Charlottesville and Lynch¬
&
burg; the sixth series is a first lien between Lynchburg and Danville,
including Pittsville Branch aud lease of Franklin & Pittsylvania RR.,
on lease of Charlottesville As Rapidan Railroad.
$3,555,000 income bonds were issued to retire 1st aud 2d preferred
stock, every ten shares of preferred to be entitled to exchange for 10
shares of common aud a $1,000 income bond. The company issued
additional common stock, making the total as above.
At the annual meeting in Dec., 1*81, President Barbonr declined a re
election, and Col. A. 8. Buford was chosen in his place, with the follow¬
sixth lien
The
ing directors: John S. Barbour. GeorgeF. Baker, C. M. Blakeford, C. 8.
Bnoe, Joseph Bryan, William P. Clyde, R. A. Cogliill, II. C. Fahnstook,
C. G. Holland, J. O. Lovell and John McAvery. J. C. Mabeu, George
Parsons, M. A. Payne, G. 8. Scott and A. D. Shepard, a committee of live
directors, was appointed by the chairman to consider the expediency of
creating a general mortgage to secure an issue of 5 per cent bonds for
an amount not exceeding $12,500,000, to secure and provide for the
entire bonded obligations of the company, including its income bonds.
If, in the opinion of the committee, this is deemed expedient, they were
to report to a meetiug of the stockholders to be called by the President.
Earnings for the years ending September 30 were:
Miles.
Gross earnings. Operat’g exp’ses. Net earn’gs.
1881-82
$1,491,921
$945,116
$546,804
1882 83....
354
1,664,204
956,194
708,009
1883-84....
354
626,612
1,625,830
999,217
In 1882-83
$119,908 in addition to above expenses were spent for con¬
struction, Arc., and in 1883-4, $198,841. (V. 39, p. 734.)
Virginia Sc Truckee.—Reno, Nev.. to Virginia, Nev., 52 miles;
are payable $100,000 per year.
Gross earnings in 1883
were $705.224; net, $294,174 ; dividends, $142,500.
In L884 gross
earnings, $711,408; net, $325,001; dividends, $210,OuO. While the
nominal stock is $6,000,000 the reports say that the amount of paid-up
capital is not known iu consequence of the destruction of the books
by fire several years ago. D. O. Mills, President.
The bun is
Wabash St. Louis Sc Pacific.—(Formerly operated by Mo. Pacific.)
—Line of Road.—The number of miles of road operated December. 31,
4,500.000
1,000
coupons, and after reorganization that company and the Garretts sold
their large interest, amounting to $3,000,000 in stock, to the Richmond
& Danville Syndicate, the last payment being made in Jan., 1883.
Of the above bonds, the first series is a first lien between Alexandria
and Gordonsville, including lease of Charlottesville As Rapidan Railroad
and the Warrenton Branch; the second series is a second lion between
Alexandria and Gordonsville, including Warrenton Branch and lease of
Charlottesville and Rapidan HR., and a first lien between Charlottesville
and Lynchburg; the third series is a third lien between Alexandria and
as
1,210,000
340,900
1,000
1,000
Virginia Midland.—Line of Road.—From Alexandria to Gor
donsville, 88 miles; Warrenton Branch, 9 miles; Charlottesville to
Lynchburg, GO miles; Lynchburg to Danville, 63 miles; Pittsville
Branch, 9 miles; Manassas Junction to Harrisonburg. 114 miles (of
which 49 miles leased to Balt. <fc Ohio); Front Royal Branch, 1 mile;
total owned, 347 miles. Leased. Orange C. II. to Charlottesville, 28
miles; Pittsville to Rocky Mr., 30 miles; total leased, 58 miles
Total
owned and ieased, 405 miles, of which 51 miles, Strasbunj Junction to
Harrisonburg, is leased to the Balt. <fc Ohio, leaving 354 miles operated.
The Washington City Virginia Midland As Great Southern was a con¬
solidation (November. 1872) of the Orange Alexandria As Mauassas and
Lynchburg & Danville railroads. The Orange Alexandria A; Manassas
was a consolidation (June 1, 1867) of the Orange & Alexandria and the
Manassas Gap. The Washington City Virginia Midland As Great South¬
ern was put iuto the hands of'a receiver July 1, 1876, interest being in
default, and was sold in foreclosure May 13, 1880, and after litigation
sold again Dec. 20, 1880. Reorganized as Virginia Midland, ana bonds
1882,was
17,000,000
5,671,00 )
100 Arc.
$141,324.
a
329,7-10
.
mortgage bonds, with interest at 3 per cent for two years. 4 per cent for
two years, 5 per cent for one year and 6 per cent for thirty-five years;
$1,920,000 of third mortgage income bonds, with interest at 7 per cent,
if earned; and preferred'stock, $1,937,189; common stock. $3,957,100.
Gross earnings for year ending March 31,1883, were $495,851; net,
and
943,800
•
Vicksburg Sc Meridian.—Line of Road.—Vicksburg to Meridian,
It is mainly owned and controlled by the Alabama N. O. Tex. &
Pac. June. Co., and form* a part of th^ route of that company between
Cincinnati and New Orleans, which was opened for business in Novem¬
ber, 1883. The company was unable to earn full interest, and reorgan¬
ization was made in 1881 with bouds as follows: $1,100,000 of first
and stock issued as above.
The Baltimore As Ohio had large claims
$1,000,000
1,000,000
1,920,000
6,000,000
600,000
1881
1881
1881
1831
1881
1881
1882
3,518
3,518
All.
All.
131
131
262
270
112
87
74
75
143
75
167
180
33
Outstanding
....
.
follows: East of the Mississippi River—Toledo to East
Bonds—Princi¬
INTEREST OR DIVIDENDS.
Amount
$....
Miss.
mortgage 6 per cent, forty years,
87
St.
Rate per
When
Cent.
payable
6
3 to 6
7
A. & O. New
York, Plock As Co.
M. As N.
do
do
Where Payable, aud by
Whom
do
do
pal, When Due.
Stocks— Last
Dividend.
April 1, 1921
May 1, 1921
June 1,
1921
1906
N.Y.,Cent.Tr.,orArx’d’a
Mar.
Mar.
Mar.
Mar.
Mar.
Mar.
Jan.
San Fran., Bank of Cal.
Aug. 1, 1889
....
6
6
5 & 6
3-4 5
5
4 & 5
6
10
M. &
S. Balto- Meeh. Nat.Biink.
M.
M.
M.
M.
M.
J.
8.
S.
S.
8.
S.
J.
&
As
*
As
As
As
Q.-F.
....
.
1^
.
.
do
do
do
do
do
1911
1916
1921
1926
1931
1927
els
d
.
Q.-F.
1,
1,
1,
1,
1,
1,
1,
§
rt
Nov. 15, 1881
«W
a>
June 1,
....
....
tig.
6
6
7
5 g.
5 g.
.6 g.
6g.
7
7
ti g.
7
7
7
7
Louis, 436 miles;
J.
M.
J.
J.
J.
J.
J.
J.
J.
J.
M.
F.
F.
F.
M.
As
As
As
As
As
As
&
Ac
Ac
Sc
&
&
As
&
As
D.
N.
D.
J.
J.
J.
J.
D.
D.
J.
S.
A.
1920
May 1, 1913
c'd
•*§
§ 2,
cq
•
Dec., 1910
d ®
go
-Jg ° >
r
July 1, 1909
July 1, 1910
Oot.
’i
zMl
.*■> O
bn
®
r
Jan. 1, 1921
June 1. 1921
1897
Mar. 1, 1921
^
Aug. 1, 1890
Aug. 1, 1890
Aug., 1888
Nov. 1,1890
A.
A.
N.
H
S-d
S3
.
1, 1931
July 1, 1921
Decatur to Camp Point, 129; Camp Point to
Quincy, 22; Bluffs to Hanuibal, 48;
Maysville to Pittsfield, 6: Clayton
Elvastou, 35; Edwardsville to Edw<irdsville Crossing, 10; Detroit to
Logansport, 214; Michigan City to Iudianapolis, 161; Attica to Cov¬
ington, 15 ; West Lebanon to Leroy, 76; P. & D. Junction to St. Francisville, 109; Vinceunes to Cairo, 158 ; Bates to Grafton, 71; Champaign
to Sidney, 12; Hollis to Jacksonville, 75; Springfield to Havana, 47;
Streator to Altamont, 157; Shumway to Eifingham, 8; 8trawn to Chicago,
100; Urbaua to Havana, 102; White Heath to Decatur, 30; State Line
to Keokuk, 222; Hamilton to Warsaw, 5; La Harpe to Burlington, 20;
total east, of the vtississippi. 2,267 miles.
West of the Mississippi—St.
Louis to Kansas City, 277 miles; St. Louis Levee to Ferguson Junction,
10; Centralia to Columbia, 22 ; Glasgow to Salisbury, 16; Moberly to
Ottumwa, 131; Brunswick to Council Bluffs. 224; Roseberryto Clarinda,
21; N. Lexington to St. Joseph, 77; West Quiucy to Trenton. 136; Keo¬
kuk to Humeston, 131; Relay to Albia, 24; Des Moiues to Fonda, 115
Albia to Des Moines, 67; total west of the M ssissippi, 1,252 miles.
Grand total east and west, 3,518 miles, of which 808 miles were leased
to
roads.
Organization. Leases, Arc.—The Wabash St. Louis <fc Pacific was
formed Nov. 7, 1879, by a consolidation of the Wabash and the Sfc. Louis
Kansas City As Northern roads and their branches. The Wabash Com¬
pany was organized Jan. 1, 1877, as successor of the Toledo Wabash Sc
Western, which company was formed June 25, 1856, by a consolidation
of several oompauies, and defaulted on its interest in 1875 and was fore¬
closed Juue 10, 1876. The St. Louis Kansas City As Northern was
formed in 1871 as successor of the North Missouri Railroad, which was
sold in foreclosure August 26, 1871.
Iu April, 1883, the Wab tsb 8t. Louis As Pacific wras leased for 99 years
to the St. Louis & Iron Mountain (and tnus to the Missouri Pacific), on.
the general basis of paying over to the Wabash its net earnings each
year. The St. Louis & Iron Mt. also guarantees the collateral trust bonds.
In May, 1884, Messrs. Solon Humphreys and Thos. E. Tutt were
appointed receivers o:i the company’s own application iu view of the
prospective default June 1 on the geueral mortgage bouds. Receiver’s
certificates were to be issued
if authorized
for $4,200,000, of
which $2,200,000 to taie up notes endorsed by Messrs. Gould,
Humphreys and others, were of inferior lien. See V. 38, p. 756; V. 39*
p. 23.
(Not a large amount had been issued to March, 183o, reported a&
only $380,000 of the class “ to pay current indebtedness.) The
prior bonds on which the interest was to be paid as earned are
enumerated in V. 39, p. 117, and the first plan of reorganization is
iu V. 39, p. 149 and 210, by which it was proposed to assess the stock
$8 a share, and to have an amicable foreclosure of the general and col¬
lateral trust mortgages and the issue of new securities, as follows:
1.
2.
3.
4.
Debenture mortgage bonds,
First pieferred stock
Second preferred stock
Common stock
6s, dependent upon income. $20,000,000
4,000,000
23,000,000
27,000,000-
The debenture bonds to be exchanged for general mortgage bonds to the
amount of $17,000,000, and the balance to be exchanged for collateral
trust bonds. The holders of the preferred and common stock will bD
invited to subscribe at the rate of not exceeding $8 a share for the first
preferred stock. Aud this subscription, amounting to $4,000,000, will
produce that sun iu money. The money will be applied to the payment
of floating debt.
By means of foreclosure the unprofitable leases and
other unsatisfactory contracts would be extinguished.
Blit the proposed plan was not accepted in London, and meantime the
situation of Wabash affairs is so greatly mixed as to defy any clear state¬
ment of the probable results. On a number of the auxiliary lines fore¬
closure proceedings have been commenced and will be prosecuted unless
the rentals are paid
The receivers are paying interest on most of the
old bonds of the company a few months after the dates when due. An
exhibit of the earnings and charges of the numerous leased lines shows
that few are earning their full charges, but such an exhibit may be mis¬
leading, inasmuch as the earnings over the main road from business
derived from some of the leased lines can easily make them profitable
to hold. At this date (April 25, 1835), there is nothing definite to be
reported.
The facts in regard to the leased lines are condensed from the com¬
pany’s report for 1882 and Poor’s Manual, as follows:
List of obligations on principal leased lines—
*
Total
Annual
Amount of
Description.
Eel River—Logansport to Butler, Ind.Rental, interest on $2,792,000 stock, 3
cent for 2 years,
Principal. Rate. Charges.
per
4 per cent for next 3,
4*3 per cent aft r
Also $L,20ti per annum for organization...
Tol. Peoria & West.—State Line. Ind., to Bur¬
4
$111,680'
1,205
7
1,189,000 4
315,000
47,560
100,000 7
7,000
322,500 7
22,575.
$2,792,000
lington. Hamilton and Warsaw, Ill.—
Rental 30 per cent of gross earnings. Min¬
imum to equal interest on first mortgage
bonds T. P. As W. Railway
Int. on 1st pref. income bonds T. P.AsW.Ry.
Boone Co. & B.—Centralia to Columbia, Mo.—
Rental of 7 per ct. per annum ou $100,000.
L. Ott. As t'edar Rapids —Coatsville, Mo.,
to Ottumwa, IowaRental of 7 per cent on $322,500
4,500,000
favor by giving
Subscribers will confer a great
explanation of column headings, Ac., see
on first pace of tables.
notes
29
75
167
180
490
109
$25,000 after ’82.
50
354
354
1st M., Omaha Div.,gld,s.i.,coup.or rgj "146
1st mort.,
gold, Clarinda Branch
Toledo Peoria & WesL, 1st mortgage
1st pref. income, conv.,
do
i
-..
int. guar..
|
Quincy Mo. A Paciiic, 1st mort., gold (int. guar.).
Centrev. Moravia A Alb. RR., 1st mortgage
Chicago Cincinnati & Louisville, 1st mortgage...
Ware River—Stock (guaranteed)
Warren (N.J.)— Stock
2d mortgage, now 1st
1st consol, mortgage
Washington City <& Pi. Lookout—1st
1st mort.,
22
237
....
136
24
73
49
18
18
18
M. bonds gold.
gold (for $2,000,000)
pal,When Due.
Stocks—Last
Dividend.
1
Hannibal A Naples, 1st mortgage
St. L. K. C. A No., 1st mort. (North Missouri)
do
real estate A railway 2d mort...
do 1st A 2d M.ou St. Char.Bridge,coup.or rg
do
do
DIVIDENDS.
Date Size, or
Amount
Rate per When Where Payable, and by
Par
;
of
Outstanding
Whom.
Cent.
Payable
Value.
Road. Bonds
2d mortgage (Wabash & Western)
2d mortgage (Great West, of 1859)*
Consol. M., (on all but Dec. & E St.L.).
1st mort., (Decatur AE. St. Louis)
Funded debt bds (sec.by dep’sit of coups.
Mort., gold, sink. fd.
discovered In these Tables.
Bonds—Princi¬
immediate notice of any error
Miles
of
Wabash St. Louis <£* Pacific—( Continued) —
Wabash, 1st mort. (Ill. A So. Iowa) extended—
do
2d mortgage (Toledo A Wabash)
do
do
do
do
do
do
Vol. XL.
BONDS.
AND
INTEREST OR
DESCRIPTION.
For
STOCKS
EAILEOAD
88
12
1862
1853
1858
1865
1867
1869
1877
1879
1879
1865
1874
1878
1879
1879
1880
1880
1879
$500Ac.
250 Ac.
100 Ac.
1,000
1,000
1,000
500 Ac.
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
.
1867
500 Ac.
100
100
1855
1870
1875
1873
1880
....
....
F. A A. 1
6
$300,000
M. A N.
7
1,000,000
M. A N.
7
1,500,000
M. A N.
7
2,500,000
7
Q.-F.
2,610,000
F. A A.
7
2,700,000
F. A A.
6 A 7
3,009,675
4. A O.
7 g.
2,000,000
J. A D.
7
500,000
J. A J. l
7
6,000,000
M. A S.
7
3,000,000
1,388,500 6 A 7 g. A. A O.
7 g. A. A O.
2,350,000
fl-s
c d
264,000
4,500,000
1,190,000
1,204,000
400,000
1,000,000
750,000
1,800,000
750,000
600,000
3
d ®
ci S
510,000
1,000,000
J.
6 g.
J.
6
7
3*2
3*2
J.
J.
J.
A.
7
A.
7
6
6
M.
J.
Q.-J.
A
A
A
A
A
A
A
A
A
J
1903-1908
fc
F. A A.
6 g.
7
4
5c
Zrs
•
....
,
S'*
O
1, 1912
1. 1893
1, 1893
1, 1893
Feb., 1907
Aug., 1889
Feb. 1, 1907
April 1, 1909
June 1, 1909
July 1. 1895
Sept. 1, 1895
Aug.
May
May
May
■
April 1, 1919
Aug. 1, 1919
Oct. 1, 1917
5
>
©0>
o
1
J.
&
g*©
J.
J.
J.
J. Boston, Bost. A Alb.
0. N.Y., Del.. L. A W.
do
O.
do
do
do
S.
Oct. 1, 1909
Feb.. 1920
Jan., 1887
DJBaltimore,Balt.AO.RR.
7, 1885
Jan.
RR
RR.
April, 1885
April 1, 1900
March 1, 1905
1903
1, 1900
Nov.
....
'
Tot. An’l
Amount of
Description.
St. Jo. A St. L.—No. Lexington to St. Joseph—
Rental 30 per cent of the gross earnings, at
a minimum of $25,000 per annum
Brunswick A. Chiilicotlie—
Rental to bo interest on $304,500: 4 per
cent per annum for 3 years, 6 per cent for
19 years, 8 per cent for 3 years
St.L.C.B. AO.—Chiilicotlie to Pattonsb’g,Mo.—
Rental to be interest on $626,000: 4 per
cent for 5 years, 6 per cent after
Quincy Mo. A Pacific—W. Quincy to MilanRental: upon earnings of $600,000 or more,
30 per cent; less than $600,000, 25 per
cent; less than $400,000, 20 per ct.
In
any event interest upon the bonds to bo
paid
Principal. Rate Charges.
571,000
7
304,500
6
18,270
626,000
4
25,040
1,204,000
6
in this Supplement. The earnings
$662,525
account of
of the bridge and
leased in
roads are practically the property
of the W. St. L. A P. RR. Co., and preserve merely a nominal existence.
The Toledo Peoria A War. company made default Dec., 1873, and was
•perated by a Receiver until sold in foreclosure on Jan.
was purchased by a committee of bondholders for
re¬
organized as Toledo Peoria A Western. This company
a
the term of its charter to the Wabash St. Louis. A Pacific on terms as
20,1880. It
$6,000,000, and
made lease for
cent on the
A Western.
$2,900,000 income bonds to be guaranteed at 4 per cent
follows, viz.: That the Wabash Pacific guarantee 7 per
$4,500,000 first mortgage bonds of the Toledo Peoria
The
and to be convertible at par for Wabash St. Louis A Pacific common
stock. The $1,000,000 second preferred income bonds were also convert¬
ible into Wabash preferred stock, share for share. The Toledo Peoria A
Western stock ($3,000,090) was changeable into Wabash common stock,
three shares for one. Since the default of Wabash in July, 1884, the
bondholders of this road are taking measures to protect themselves, and
foreclosure proceedings were commenced in March, ’85. See V. 40, p. 305.
Stocks and Bonds.—Preferred stock has a prior right to 7 per cent
(non-cumulative); then common to 7; then both share in any surplus.
Prices of stock since 1879 have been: Common in 1880, 26^@48 ;
In 1881, 33*4560; in 1882, 235s®3976; in 1883> 15®36*4; in 1834,
in 1885, to April 18, 2*2 ®5*2.
Preferred in 1880, 51*4®8838;
45?8®7158; in 1883, 29*8®57*2; in 1884,
9®32; in 1885, to April 18, 10S>14.
The trustees of the general mort. for $50,000,000 are the Central Trust
Co. of N.Y. and James Cheney of Indiana.
The mort. may be foreclosed
In 1881. 64*4®96k; in 1882,
if a majority in value of all the bond¬
holders so request the trustees. First moit. on St. Charles Bridge is for
$1,000,000, and is 6 per cent now, running absolutely till 1908.
The amount of funded debt bonds of 1877, due 1907 as above given,
includes the scrip certificates for coupons funded and deposited in trust,
which certificates amounted January 1, 1883, to $1,014,453, and are
after six months default of interest,
exchangeable into the bonds. If not exchanged the certificates fall due
with the principal of the bonds from which coupons were cut.
The collateral trust bonds of 1883 were issued for floating debt.
These bonds
are guaranteed by the St. Louis Iron Mountain A
Southern RR. Co., and in 1884 a mortgage was recorded on all the
Wabash property for $10,000,000 to the St. Louis IronMt. A Southern as
security lor this guarantee.
The old Toledo A Wabash equipment bouds of 1862 ($600,000) were
decided in March, 1883, to be a lien against this company, with interest
since 1874, making $1,100,110, and judgment was so entered in May, ’84;
but an appeal to the U. S. Supreme Court was taken by the company.
Operations, Finances, Ac.—The Wabash St. Louis A Pacific extended
its lines very widely in the years 1879 to 1882 (under the presidency of
Mr. Solon Humphreys), by the acquisition or branch and connecting
roads, and thereby assumed heavy liabilities. Although the earuings
have increased largely, the aimual liabilities have so far been in excess
of the net profits. The road was operated in close connection with the
Gould Southwestern system running into St. Louis, and the formal lease
to the St. Louis A Iron Mountain Company placed the Wabash in com*
the
Wabash.
f>lete
control
of the Missouri Pacific prior to the appointment of receivers
For eleven months of 1884 (Jan. 1 to Nov. 30) the earnings and
or
expenses were as
Gross
follows:
earnings
Operating expenses
“Net
1833
was
income
was
A condensed
$4,220,740.
Dec. 31, ’82.
Assets—
Changes.
1884.
1883.
$15,247,997
12,445,114
$15,390,175
12,180,070
Dec. $142,178
Ino.
265,044
$2,802,833
$3,210,105
Dec. $407,222
Dec. 31, ’33.
May 28, ’84.
$117,776,432
9,365,677
9,400,977
600,494
657,500
4,073,584
6.256,620
$116,329,942 $117,625,082
8,667,697
700,404
2,035,880
72,240
not included in the earnings of the Wabash St. Louis A Pacific
Railway, but are applied to pay the rental.
The Centrev. Mor. A Albiais leased in perpetuity; rental, interest on
bonds. The Des Moiues Northwest, is leased for 99 years from Feb. 28,
1881; rental, interest on bonds, any surplus of net earnings after such
payment to go to stockholders. The Des M. A St. L. RR. is
per¬
4®193i;
balance
appeared in compari¬
deficit in income for
$2,037,704. From Jan. 1, 1883, to May 28, 1884, the deficit in
Supplies and materials
Iucome account (debit)
are
petuity; rental, int. on bonds. All these
made, but a
of the year
embraced in the Missouri Pacific report.
was
Road and equipment
Stocks and bouds
Railway Co.
tunnel
549.
For the year 1883 no annual report of this company was
brief report of the iucome account for the last six months
general balance.
Joint obligations with the Missouri Pacific
on
the lease of the St. Louis Bridge & Tunnel Railroad, dated July 1,1881, are
stated under the title of St Louis Biidge A Tunnel RR. among “Miscel¬
laneous Securities”
$2,733,777;
$248,903; total, $3,727,-
sheet of a few lines was also given, from which it
son with the balance sheet for 1382 that the net
$11,637,000
Total
40,000
payments under court orders for 1884 will be
Interest
taxes, $532,159; car trusts, $212,710; rentals,
$127,733,923 $131,664,837
$134,091,529
$27,140,500 $27,337,200
23,034,200
23,034,200
76,466,075
70,937,854
1,544,836
1,443,040
$27,372,500
Liabilities—
Common stock
Preferred stock
Funded debt.
Interest due and accrued
Notes and loans payable
Balances and accounts
23,034,200
76,465,075
1,856.911
2,441,624
2,921,219
2,773,516
3,276,056
509,010
1,902,273
$134,091,529
Tne annual report for 1882 was published in the Chronicle, V. 36, p.
338. The comparative statistics for three years up to 1882 inclusive were:
$127,733,923 $131,664,837
EQUIPMENT.
ROAD AND
1880.
1881.
2,479
3,348
'
Total miles
operated.
1882.
3,518
OPERATIONS AND FISCAL RESULTS.
Operations—
Passengers carried
Passenger mileage
Rate per passenger per
mile
Freight (tons) moved.
Freight (tons) mileage
Av’ge rate per ton per mile.
Earnings—
Passenger
Freight
Mail, express, Ac
4,251,393
3,215,200
137,114,727
2-398 cts.
2-238 cts.
2-373 eta.
4,533,187
5,393,917
5,911,012
;
£6,198,560
1,105,783,399 1,149,774,547
0*862 cts.
0 928 cts.
$
$
2,344,452
3,067,989
9,532,334
10,667,906
551,326
731,894
1,247,611,320
12,428,112
7,787,349
14,467,789
10,792,943
16,851,689
11,664,752
4,640,763
3,674,846
5,186,937
62-65
74-59
69*22
Total gross earnings...
Total operating exp’ses
Net earnings
Per ct. of expens
1882.
1881.
1880.
-1,992,763
97,774,576
to earn...
0*951 cts.
$
3,944,520
11,885,226
1,021,943
INCOME ACCOUNT.
Receipts—
1880.
1881.
$
$
3,674,846
1882.
$
5,186,937
Net earnings
Other receipts
4,640,763
33,601
277,245
328,760
Total income
Disbursements—
Rentals paid
Interest on debt
Taxes, rent of cars, Ac
4,674,364
3,952,091
5,515,697
$
$
483,255
2.657,360
514,569
1,009,079
3,447,627
637,504
3,655,184
..
Balance, surplus or deficit.,
4,302,006
809,105
1,329,918
Dividends
Total disbursements
$
987,608
,
6,424,128
sur.1,019,180 def.2,472,037
6,098,719
def.583,022
-(V. 38, p. 178, 358.447, 541, 620, 639, 680, 707, 731, 756; V. 39, p.
23, 41, 73, 93, 117,149. 183, 210, 265,325, 350,402, 437,462, 494, 574,
707, 708; Y. 40, p. 153, 184,241,270,305,337,338,364.394,427,
,
•
482.)
,
Mass., 49 miles. It
Railroad at a rental of 7
Ware River.—Palmer, Mass., to Winchendon,
is leased for 999 years to the Boston A Albany
per cent per annum. J. A. Rumrill, President,
Springfield, Mass.
Warren, N. J.—Line of road, New Hampton Junction to Delaware
Bridge, N.J., 18*4 miles. The road is leased to Delaware Lackawanna
A Western at 7 per cent on stock and bouds. Gross earnings, 1881,
$593,234: net. $345,274; 1882, gross, $131,985; net, $255,194. John
I. Blair,
President, Blairstown, N. J.
Washington City & Point
(V. 32, p. 611.)
Iiookont.—Hyattsville, Mdy to
Shepherd, Rid., 13 miles, and to be extended. This road was opened in
1873.
It is leased to the Baltimore A Ohio for $36,000 gold per
The stock paid in is
Ohio Railroad.
annum.
$1,000,000. Same officers as
Baltimore A
April,
Subscriber* will confer a great favor by giving Immediate
DESCRIPTION.
Ac., see notes
West Jersey— Stock
1st mortgage loan
1st
do
consolidated
Consolidated mortgage
West Jersey db Atlantic—1st mortgage
Pleasant ville A Ocean City
West Virginia Central db Pittsburg—1st mort
Western (Ala.)—Western RR. bonds, before consol..
2d mort.. guar, by Cent, of Ga.and Ga. RR.&B.Co.
Western db Atlantic (Ga)—Income bonds
186
38
63
128
34
1866
1869
1879
1880
....
....
44
160
138
90
90
90
90
90
90
90
Maryland—1st mort., endorsed Balt. City..
1st mortgage, unendorsed
2d
endorsed by Baltimore
do
2d
do
endorsed by Washington
2d preferred mortgage, unendorsed
—
County
..
3d mortgage, endorsed by Baltimore
4th
do
endorsed by Baltimore
Funded coupons
Western Norin Carolina—1st mortgage
Consol mortgage
Western Pennsylvania—1st mortgrge...'.
1st mortgage, Pittsburg Brancn
18-32
Registered bonds
....
130
189
57
28
....
Wheeling db Lake Erie.—1st M., gold
($15,000 p. m.)
2d mortgage
....
1st mortgage—
«
,
4®
®
•
•
Ac.
Ac.
Ac.
Ac.
Ac.
•
•
•
•
•
1,000
500 Ac.
100 Ac.
1,000
1,000
....
....
•
1880
100
....
.
^
....
.
....
Jersey.—Main line and branches—Camden to
Cape‘ May,
lines,
Bridgeton, Riddleton, Sea Isle and Ocean City, 132 miles; leased
35 miles; West Jersey & Atlantic Railroad., 34 miles ; total, 200
miles
operated.
For two months from Jan. 1.188 ^, gross earnings were $127,064;
against $136,486 in 1884; net, $25,951; against $50,606. The annual
report for 1884 was published in the Chronicle, V. 40, p. 452. Income
account for four years wras as
Road
Gross
follows:
INCOME ACCOUNT.
1882.
175
1881.
163
operated
427,572
Net earnincs
Other receipts
1883.
18 8
1884.
200
$
$
1,319,648
503,305
11,966
$
$
454,667
1,227,654
441,896
454,667
441,896
988,525 1,109,410
earnings
3,074
430,646
$
Total income
Disbursements—
Rentals paid
Interest on debt
Net earn.of W.J.AA.RR.,Ao
Dividends
Rate of dividend
515,271
$
175.726
53,034
54,390
4 p. c.
177.118
57,775
178,888
82,807
85,232
41,270
175,174
90,66s
87,788
6 p. e.
6 p. c.
6 p. c.
316,184
350,734
33,034
Total disbursements....
$
$
33,034
36,571
73,075
373,766
394,900
11887790--SO23490
875,000
1,000,000
657,100
850,000
Ac.
Ac.
....
1879
1882
»
1,171,000
513,000
200,000
400,000
300,000
300,000
600,000
1,000
100
500
500
500
500
500
500
Payable
600,000
•
1,000
1881
1863
1865
1883
79
180
Wilmington db Northern—Stock
Wilmington db Weldon—Stock
Sterling bonds
Sinking fund bonds, gold
West
•
Cent.
440,000
80,0u0
1,100,000
100 &c.
•
When
748,500
1,000
•
Rate per
$1,484,800
1,000,000
1,000,000
500 Ac.
500 Ac
....
227
Wilmingion Columbia db Augusta—Stock
Outstanding
$50
65
of it pref.)
White Water— Stock ($325,000
Amount
500Ac.
1868
1870
1873
1858
1858
1867
1867
1868
1870
1872
1880
notice of any error discovered in these Tables.
Bonds—Princi¬
INTEREST OR DIVIDENDS.
Date
Size, or
Par
of
of
Road. Bonds Value.
Miles
For explanation of column headings,
on first page of tables.
Western
89
RAILROAD STOCKS AND BONDS.
1885.]
3,100,000
800,000
1,000,000
2,500.000
1,300.000
2,721,000
2,280.000
960,000
1,600,000
1,278,050
2,082,400
221,400
936,000
'
3
6
7
6
6
6
6
8
8
10
6
6
6
6
6
6
6
6
7
6
6
6
5
Where
pal,When Due.
Payable, and by
Whom.
Stocks—Last
Dividend.
M. A S. Phila., Pa.RR.Co. Office Mar. 16,1885
do
do
J. A J.
A. A 0.
do
do
Oct.. 1899
do
M. A N.
do
Nov., 1909
M. A S. Phila., Fidelity I. T. Co. Sept. 1, 1910
J. A J. Phila., Penn. RR. Office. July 1, 1910
A. A O.
A. A O.
Q-J.
J.
J.
J.
J.
J.
J.
J.
A
A
A
A
A
A
A
M. A
J.
A
A. A
N. Y., Nat.
do
City Bank.
do
Atlanta, Co.’s Office,
J. Balt., N. Mechanics’ B’k
do
do
J.
do
do
J.
J.
Hagerstown, Md.
J. Balt.,N. Mechanics’ B’k
do
do
J.
do
do
J.
do
do
N.
Raleich, N. C.
New York Agency.
J.
O. Philadelphia, Penn. RR.
do
do
J.
do
do
D.
J.
J.
A
A
6 g.
7
3
6
M.
M.
J.
J.
A N.
A S.
A J.
A D.
4
7 g.
7 g.
J. A D.
M. A N.
J. A J.
N.
Y., C. K. Garrison.
Baltimore.
N. Y. and Baltimore.
London.
N.Y.,Bo8t. ,Lond. .Frank
Oct. 1.
Oct. 1,
Oct. ’79
Jan. 1,
Jan. 1,
Jan.,
Jan.,
Jan.,
Jan.,
Jan.,
1888
1890
to ’91
1890
1890
1895
1895
1895
1900
1902
1890“
May 1, 1890
Jan. 1, 1911
April 1, 1893
Jan.
1, 1896
June 1,
Nov.
1923
1, 1909
1912
Jan. 10, 1885
June, 1910
i
Jan. 15, 1885
1886
1896
purchased April 17, 1875, by commissioners for the 8tate of North
Carolina, and subsequently finished by the Richmond & Danville Ter¬
minal Railway & Warehouse Company, and is operated as a part of the
Richmond A Danville system, in 1883-84 gross earnings, $135,069;
net, $141,583. In 1883 gross earnings were $360,065, net, $181,584.
Stock. $4,110,000 .common and $4,000,000 pref.
A second consol,
mortgage for $4,110,000 is held by the R. &D. Ter. R. & W. Co. (V. 38,
p. 541, 596, 620.)
Western Pennsylvania.—The road runs from Blairsville to Alle¬
ghany City, Pa., 63^2 miles; branch to Butler, Pa., 21 miles; total, 841!!
miles.
Completed in 1865 and branch in 1870. A new lease to the
Pennsylvania Railroad tor 30 years was made in 1883, and an issue of
$5,000,000 consolidated bonds was authorized. The Pennsylvania Rail¬
road. lessee, owns $993,050 stock out of the total amount of $1,022,450,
$288,000 of branch bonds. In 1881 net earnings were $166,954; in
1882, $216,965.
White Water.—Valley Junction, O., to Cambridge City, Ind., 65
miles. This was formerly the White Water Valley, sold in foreclosure
May 2, 1878, and reorganized under this title. Gross earnings in 188283, $104,234; deficit, $5,979. Elijah Smith, President, Boston, Mass.
Wheeling Ac Lake Erie.—Road under
construction—Wheeling. W.
Va., to Toledo. O., 205 miles, and branch, Norwalk to Sandusky, O., 21
miles. In 1N83, 170 miles were in operation from Toledo to Valley Junc¬
tion, O., and the branch from Norwalk to Huron, O., aud extended 10
miles to Sliarrodsville in 1884.
In 1884 company was embarrassed.
Foreclosure begun in July, 1884, and M. 1). Woodford appointed re¬
ceiver. Commodore Garrison in New York has been largely interested
in this road. Jno. P. Kennedy, President, N. Y. City.
103,933
129,371
68,130
114,462
“. 40. p. 184, 452.)
39, p. 265 ;
West Jersey Ac Atlantic.—Newtield, N. J., to Atlantic City, N. J. -(V. 39, p. 98, 210, 434.)
Wilmington Columbia Ac Augusta.—Owns from Wilmington,
34 miles; Pleasantville A Ocean City RR., 7 miles; total, 41 miles
Opened June 17, 1880, and operated by West Jersey Railroad on a N. C., to Columbia, S. C., 189 miles. Leased jointly, the Central RR,
of South Carolina, Lane, S. C., to Sumter, S. C., 38 miles. Total oper¬
Joint
Tersey from traffic of this road to be applied to any deficit in interest ated, 227 miles.
Road was sold in foreclosure, October, 1879, for $860,500, aud com¬
and then as sinking fund for bonds purchasable at 105, or drawn if
In 1884 net earnings were $83,286.
over that.
Stock is $666,550. pany reorganized under present style.
Fiscal year ends Sept. 30. The report for 1883-1 said; “ It is a cause of
Two per cent dividend paid in July, 1884, and three Jan. 1, 1885.
congratulation that the day seems at hand in which the five feet gauges
West Va. Central Ac Pittsburg—A coal and railroad company in of the various Southern roads will be changed to four feet eight and a
West Virginia in the upper Potomac region—the Elk Garden Coal Field. half inches, so as to make a uniform gau^e throughout the United
The railroad was 47 miles in January, 1884, and extensions in progress. States. This alteration, together with change of rolling stock, will re¬
In 1883 net profit on coal sales $41,038; net on railroad, $50,254: quire, it is estimated, an outlay of about flity thousand dollars. It la
total, $97,292. II. G. Davis, President; S. B. Elkins, Vice-President; important, as this sum will be required in cash, that it should be accu¬
James G. Blaine, W. H. Barnurn, and others, directors.
mulated from the earnings and be set aside for the emergency. There
no similar amount this company could be called upon to invest from
Western Alabama.—Line of Road
Selma to Opelika, Ala., 116 is
which it would derive a titlie of the advantage.”
miles; branches, Opelika to West Point, 22 miles; total, 138 miles, of
The Ce itral Railroad of South Carolina, after paying rental and de¬
which 50 miles is leased to Louisville & Nashville for $52,000 per
ducting all expenses, showed a deficit of $3,421,
annum.
Was a consolidation in 1870 of Montgomery & West Point and
Earnings have been:
Western of Alabama. Sold May 10, 1875, in foreclosure and purchased
Years.
Gross Eam’gs. Net Eam’gs.
jointly by the Georgia Railroad and Central Railroad of Georgia. The
$547,446
$145,423
old stock and income bonds were wiped out in the foreclosure, and the
640,956
135,917
property is represented by the bonded debt and $816,000 due each of the
692,628
139,592
above companies. There are also $32,000 second mortgage 8s of Mont¬
205,291
718,599
gomery A West Point RR. due May 1, 1888. The gross and net earn¬
652,869
197,485
ings have been as follows:
Net
Balance, surplus
—(V. 38, p. 149, 478 ; V.
traffic agreement and 25 per cent of gross receipts on West
Gross
Miles.
167
.
.
.
1880-81
.
.
.
167
150
117
88
88
Earnings.
$544,107
579,492
679,746
692,911
494,539
491,576
Expenses and
Taxes.
$367,454
EarniDgs
$176,652
376,757
290,302
183,994
276,949
316,154
152,237
258,860
232,716
395,498
402,797
-(V. 39, p. 706.)
Wilmington Ac Northern.—Owns from Wilmington Del., to
Reading. Pa., 72 miles; branches, 7 miles; total owned 79 miles. This
company was organized Jan. 18,1877, as successor to the Wilmington
A Reading RR. Co., which defaulted on its interest and was sold in fore¬
closure Dec. 4, 1876. Has bonds amounting to $122,700 in several
small issues. Earnings in 1881 $325,012; net, $66,764. In 1882,
gross, $339,092; net, $75,064.
Ga., to Chattanooga, Tenn., 138
Wilmington Ac Weldon.—Road extends from Wilmington to
opened in 1850, and by an act of Weldon,
N. C., 163 miles; branch to Tarboro, 17 miles; total, 180 miles.
October 24,18ft), was leased to a company for twenty years at a monthly Was leased November, 1872, to Wilmington Columbia A Augusta Rail¬
rental of $25,000. In 1881 gi-oss earnmgs wore estimated at $1,500,000, road for 99
years. The lessees made default December, 1877, and the
and net, $600,000; rental, $300,000; surplus, $300,000.
lease was surrendered April 13, 1878.
The fiscal year ends Sept. 30. The report for 1883-84 said: “While
Western Maryland.—Line of Road—Baltimore to Williamsport
Md., 90 miles; Emmitsburg Branch, 7 miles; Edgemont to Shippene. this shows a diminution in the gross, there is an increase in net earn¬
burg, Pa., 34 miles; total, 131 miles. The capital stock is $682,050 ings. In view of the stringency of the money market and the bad out¬
The company was largely assisted by the city of Baltimore, and look at the beginning of the year, every possible retrenchment in ex¬
was unable to pay all its
interest. A compromise was made with penses was made. Improvements have been left undone which might
have been made with advantage to the future economy of operating the
the preferred second mortgage bondholders for funding coupons.
road.
At least two more passenger cars, two more locomotives, and an
The Baltimore & Hanover RR. was completed to its connection with
this road in 1880. The Western Maryland operations for three years expenditure of $17,000 or $18,000 for sleeping cars were needed. There
have been as follows, but in 1878-79 the construction account was are still 35 miles of iron rail in the track, besides the Tarboro Branch,
eiosed and all expenses charged to operating expenses, on which basis and it is submitted whether it would not be good policy, while steel
rails are unusually low in price, to take all the old iron rails out of the
net earnings have since been relatively decreased.
track. During the year the Tarboro Branch will need new rails for
Gross
Net
Passenger
Freight
Western Ac Atlantic.—Atlanta,
miles. Built by State of Georgia and
1883 84
•
Miles.
124
131
131
—(V. 39, p. 706.)
Western North.
13,401,848
16,201,680
Mileage.
9,172,272
12,876,711
16,512,178
13,114,956
Mileage.
Earnings.
$540,148
654,163
665,995
Earnings.
$175,657
254,175
258,245
repairs.”
The earnings and expenses for six years have been:
Years.
Carolina.—Owns from Salisbury, N. C., to Paint
Rock, Tennessee State line, 190 miles; Asheville to Pigeon River, 20
-(V. 39,
miles; total, 210 miles. The road was financially embarrassed, and was
Gross
Net
Earnings.
Earnings.
$175,693
221.698
$505,978
603,175
p.
750,916
680.)
303,833
Gross
Years.
1881-82
18S2-83
1883-84
Net
Earnings. Earnings.
$783,790 $209,472
797,428
195,S79
788,014
294,631
Subscribers will confer a great
favor by giving
DESCRIPTION.
For explanation
of column headings, Ac., see
first page
on
of tables.
Central—Consol, mort., land giant,
Wisconsin
notes
pref.
1st series
2d series, income
Mort. Minn. St. Croix & Wis. RR
Worcester <& Nashua dk Rochester—Stock
Bonds, mortgage
Bonds, mortgage
Bonds, mortgage
Nashua <s Rochester,
CANALS.
1879-0
326
326
1879
1879
326
104
94
1879
48
1st M., guar, (for $700,000)
Albermarle dk Chesapeake—Stock
Mortgage bonds
*
Chesapeake dk Delaware—Stock
1st mortgage (originally $2,800,000)
Chesapeake dk Ohio— Stock
Maryland loan, sinking fund
—
14
14
14
14
184
184
184
184
Guaranteed sterling loan
Bonds having
Date
Miles
of
of
Road. Bonds
next preference
Repairbonds, Act 1878
Delaware Division—Stock, (Conv.into L.C.&N.stck.)
1st mortgage (extended 20 years in 1878)
Delaware dk Hudson—Stock
1st mortgage, registered
Debenture loan of 1894, coup and reg
1st M., coup. & reg., on Penn. Div. ($10,000,000)
Navigation—Stock
Loan, oonv., coup., gold (assumed L. & W. Coal Co)
1st mortgage, reg. (extended at 4*a)
1st mortgage, registered, railroad
:
Mort. loan, g. ($2,810,000 assumed by other co’s.)
Lehigh Coal dt
Wlaconsin Central.—Owned on Dec.
branches Stevens Point to Menasha, 65
60
60
148
148
g.
.
1879
m
m
•
....
500 &c.
5
5
5
5
1,000
900,000
500,000
"7
ern was
Vario’s
1,000
1,000
50
1869
1864
1867
1867
31,1882, the main line and
miles; do. to Ashland, 186
327
In January, 1879, the
Wisconsin
the earnings,
^
7
7
7
3
6 g.
5,000,000
4*2
2,000,000
4,653,000
6 g.
6
Payable
Bosto", Office.
M. A N.
do
J. & J.
do '
J. & J.
M. & N. N.Y.,Farmers’ L.AT.Co.
Worcester, Office.
J. & J.
do
do
Various
A. & O. Bost., Globe Nat. Bank.
do
do
F. & A.
do
do
A. & O.
5 p.
J. & J. N. Y., Union Trust Co.
J. & D.
Philadelphia, Office.
do
do
J. & J.
J. & J.
July 1, 1909
Q-J
Q-J.
....
....
....
....
J. & J. Balt., A. Brown & Sons.
J. A J. Balt., Farm. A Mech.Bk,
F. & A.
Phila., 244 So. 3d st.
do
do
J. & J.
N.
Y., Bk. of Commerce.
Q-Mcli.
do
do
J. & J
A. & O. N. Y. Office & Bk.of Com.
do
do
M. & 8.
J. & D.
Philadelphia, Office.
do
do
M. A S.
do •
do
Q-J.
do
do
Q-F.
do
do
J. & D.
1, 1895
Feb.
April 1, 1894
July, 1886
1870
1890
1885
1898
Feb. 15, 188
July 1. 1898
Mch. 10,1885
1891
1894
Sept. 1. 1917
Dec. 9. 1884
1894
July 1, 1914
1897
1897
$5,500,000
share¬
paid for
six shares of the
economies of
fund, has
several
of
again
method of carrying it
in the
mining.”
Comparative statistics for
four years:
INCOME ACCOUNT.
1883.
$
$
Sales or coal
9,328,763 8,993,540 9,575,362
60,007
52,403
58,400
Canal tolls
287,038
187,363
243,537
Miscellaneous profits
492,924
745,436
345,075
Coal on hand (Dec. 31)
888,559
812,455
805,914
Railroad earnings in Penn.
8,465
1,905
Profit on leased lines
249,497
257,541
301,858
Interest on investments...
1881.
Total
Disoursements—
Coal on hand Jan. 1
$
8,213,157
47,240
486,929
892,804
830,542
284,464
11,083,547 10,804,251 11,808,244 10,755,136
$
$
$
$
345,075
4,422,213
798,701
1,680,192
492,924
745,436
4,996,195 4,549,480
811,873
557,500
1,642,844 1,455,805
11,083,547 10,804,251
11,808,244 10,755,136
727,284
3,985,304
Coal transportation, Ac...
755,331
Canal freight and exps...„ 1,737,979
Mining coal
1,374,784 I,312,GS3 1,321,941 1,198,885
546,624
407,756
585,446
400,401
174,490
2,102,464 1,838.201 1.S95.843 1.488,094
Interest
Taxes and miscellaneous.
Loss on leased railroads
Balance
Total
1884.
1882.
Receipts—
GENERAL BALANCE AT
CLOSE
1881. Assets—
OF EACH FISCAL
1882.
YEAR.
1883.
$
1884.
$
6,339,210
6,339,210 6,339,210 6,339,210
6,456,258 6,581,070 6,957,188 6,463,634
9,027,804 9,044,173 9,035,163 9,325,365
2,729,311
690,397
2,751,236
683,185
2,796,329
670,678
2,792,417
790,779
1,022,938
1,022,938 1,022,938 1,022,938
520,164
1,074,808 1,008,787
Canada RR.. 3,597,074 3,597,074 3,597,074 3,597,074
300,000
300,000
300,000
Cherry Val. & Sharon RR.
300,000
51,923
52,113
48,296
Meehan. & Ft. Edward RR
16,146
211,527
211,280
210,922
Scheu. & Meehan. RR
200,773
892,804
745,436
492,924^
Coal on hand Dec. 31
345,075
1,502,789
921,663
637,605
400,015
Advances to leased lines..
698,125
648,724
625,073
Advances on coal royalties
615,514
Miscellaneous assets
2,985,349 3,658,429 3,944,549 *3,372,061
43,035
69,410
69,410
Telegraph and Car Co....
69,410
1,466,143 1,611,254
1,148,322 1,408,449
Supplies on hand
2,823,813
Cash and bills receivable.. 3,884,088 2,609,203 3,914,976
New York &
erations were as follows:
1881-82...
1882-83...
1883-84...
1, 1885
May 1, 1887
April 1, 1893
remaining $6,500,000, $1,000,000 will be issued in 1887, and
in 1891, to take up an equal amount of 7 per cent bonds. To
holders of May 24,1883, there was allotted 35,000 shares to be
at par, one share of new stock being allotted for every
old stock held by shareholders on the date named.
The annual report for 1884 had the following:
“The mining of coal was suspended for 103 days during the year.
Under the policy of restriction the surplus, or dividend
steadily increased, notwithstanding the payment for
years
dividends of 6 and 7 per cent per annum
This policy has been
adopted by the anthracite interests, though ihe
into effect has been chaugecl.
It is believed that this method, known as
the percentum or allotment plan, will show decided advantage!
the Worcester & Nashua paid only 5*2 per Canal, Ac
The rental charge being plainly too heavy, Railroad and equipment..
Real estate
•an agreement was made in 1879 to reduce the interest on bonds to
Mines and fixtures
•5 per cent, and the dividends on Nashua & Rochester stock to 3 per
cent per annum. The interest on Worcester&'Nashua bonds was also Coal-yard, barges, Ac
reduced to 5 per cent. In addition to above there are $37,000 5 per Lack. & Susquehanna RR.
cent Worcester & Nashua demand bonds outstanding. Five years’ op¬ Albany & Susquehanna...
94
94
94
84
Jan.
miles.
pear in the accounts, and
cent dividends in that year.
..
London.
1909
1909
1914
is among the largest miners and carriers of anthracite coal,
and also leases the Albany & Susquehanna and Rensselaer & Saratoga
railroads, including the N. Y, «fe Canada RR., whose bonds it endorses.
The stock was increased to $30,0i>0,000 (of which $23,500,000 issued
to Jan. 1, 1885) to pay off the bonds due In 1884 and 1891. Of the
Net
Freight (ton)
Gross
Passenger
Earnings.
Mileage.
Earnings.
Miles.
Mileage.
$265,748
41,550,726 $1,146,352
8,746,?66
1880
460
272,108
47,766,777 -4,365,967
10,466,444
1881
461
252,468
44,437,249
1,388.490
1882
440
11,427,237
122,660
39,128,716
1,447,799
1883
14,992,032
450
—(V. 38, p. 220; V. 39, p. 98, 437,545.)
Worcester Sc Nashua Sc Rochester.—Owns from Worcester to
Nashua and Nashua to Rochester, 94miles. This consolidated company
was formed Dec. 1, 1883, by a merger of the Worcester & Nashua and its
leased line, the Nashua & Rochester, on the basis of an equal exchange
of the stock of each company for that of the consolidated company;
1875-6 the leased line charges (Nashua & Rochester, 48 miles) first ap¬
..
Bait., A. Brown & Sons
ct. yearly
This company
&e., were:
Miles.
94
pal,When Due.
Payable, and by Stocks—hate
Dividend.
Whom.
tfollowing
efferPly¬
Years.
Years.
Where
When
dale, Pa., was completed in 1828. The company owns the
railroads, viz: Lackawanna & Susquehannah, Nineveh, N. Y., o 5
son Junction, Pa., 22 miles; Valley RR., Carbondale to Scranton, Pa.,
17 miles; Union RR., Green Ridge to Mill Creek, Pa., 17 miles-,
mouth & Wilkesbaire RR. and bridge, 3 miles; Gravity RR., Olyphant
to Honesdale, 56 miles; total owned, 114 miles; track of Jefferson RR.
used by contract, 35 miles; total operated in Pennsylvania, 150
bondholders,
acres.
The plan of reorganization practically accomplished by consent
embraced the issue of a new consol, mort. to cover $400,000 5 p. c. pref.
bonds; $3,800,000 first series bonds, bearing 2 p. c. for three years from
July 1,1880, and 5 per cent afterward; and $5,700,000 second series
bonds, to draw interest if earned (but not cumulative), 2 per cent for
three years, and 7 per cent thereafter. Interest on the second series is
payable J. and J., but dependent each time on the net earnings of the
naif year ending six months before. The stock of $11,435,500 remains,
$2,000,000 of it preferred and $9,435,500 common, and is all deposited
intrust with Stewart and Abbot, Trustees, to be voted on until all interest
is being earned and paid on new bonds, and in the judgment of the trus¬
tees is likely to continue so to be. Trustees’ certificates for new stock
(without voting power) have been issued to the old stockholders, which
pass as a delivery on sales.
In March, 1882, the Trustees and company leased for 99 years the
Milwaukee & Lake Winnebago RR, from Neenah to Schleisingerville,
which was completed in December, 1882; the rental is 371a per cent of
gross earnings up to $175,000 per year, all surplus to go equally to
lessor and lessee, and the bonds are issued subject to this lease. The
•urrender of the lease of the Milwaukee & Northern road in August,
1882, materially changed the situation of the Wisconsin Central so that
no comparison of trattic with that year is of much importance. The Minn.
St. Croix & Wisconsin RR., built in 1884, gave important exten¬
sions, reaching St. Paul from Chippewa Falls. 104^ miles. From Mil¬
waukee this company makes use of Chic. Mil. & St. Paul tracks 32
miles. For the year ending June 30, 1884, the report to Wisconsin
Commissioners gave gross income $1,476,821; net earnings, $405,392;
net surplus, less taxes and rentals and interest, $19,807. In V. 39,
p. 98, is a brief abstract of the annual report for 1883, which showed
heavy operating expenses and small net earnings.
For four years
Central Road was taken possession of by the trustees for
who still operate it. There is a land-grant of over 800,000
m
6
5
6
6
2
6
771,000
500 Ac.
Var.
Var.
500 Ac.
m
6
5,000,000
12,386,900
lOOOAe.
m
m
1,699,500
124,000
207,650
800,000
23,500,000
5,549,000
4,829,000
100
1871
1874
m
2,000,000
4,375,000
1,000
Milwaukee to Schleisingerville, 32 miles. Total oper¬
feeders, 450 miles. The lease of the Milwaukee & North¬
surrendered August, 1882.
2,078,038
1,993,750
3,851,593
50
1858
1*2
275,000
250,000
400,000
700,000
25
500 &c.
500 Ac.
500 Ac.
....
5
2 to 5
2 to 7
6
$360,000
3,800,000
5,700,000
2,600,000
3,099,800
50
1856
Rate per
Cent.
Value.
miles; do. to Portage City, 70 miles; branches, 7 miles; total owned,
miles. Leased from Neehah to Schleisingerville, 65 miles; operated
under contract,
ated, including
Amount
Par
100
100 Ac.
500 &c.
lOOOAe.
1877
•
Size or
m
1873
1875
1874
discovered in these Tables.
Bonds—Princi¬
INTEREST OR DIVIDENDS.
1,000
339
.
immediate notice of any error
$....
1884
fV0L. XL.
BONDS.
CANAL STOCKS AND
AND
RAILROAD
90
Passenger
Mileage.
6,784,960
7,222,999
7,467,524
7,592,458
7,335,977
Freight
Mileage.
$14,995,020
16,153,062
16,999,008
17,844,586
17,338,246
Gross
Earnings.
$353,592
588,770
631,982
661,531
639,447
Net
Earnings.
$167,033
155,196
156,993
173,325
181,421
CANALS.
Albermarle Sc Chesapeake.—Canal between Chesapeake Bay
and Albermarle Sound, N. C., 14 miles. Gross earnings 1882-83, $102,
000; net, $70,000. President, Marshall Parks, Norfolk, Ya.
Total assets
40,902,484 41,087,986
Liabilities—
$
$
Stock
20,000,000 20,000,000
Bonds
18,843,000 18,763,000
823,053
Miscellaneous accounts...
836,899
Profit and loss
1,236,431 1,488,087
43,213,038 41,843,804
$
$
20,000,000 23,500,000
18,763,000 15,378,000
778,072
2,444,732
2,005,306 2,187,732
Chesapeake Sc Delaware.—Delaware City to Chesapeake City, Md.
Chesapeake Sc Ohio.—This company was assisted with loans by the
Btate of Maryland. It has long been unable to meet its interest. In a
suit against the companj* the Court (January, 1881) declined to appoint a
Total liabilities
40,902,484 41,087,986 43,213,038 41,843,804
receiver, but ordered the company to report at stated times its receipts
These miscellaneous assets include the following: Sundry bonds,
and payments. In July, 1884, application again made for a receiver
and sale of the canal. In 1883 gross earnings, $329,527; net, $34,474; $148,608; 8,540 shares Albany A Susquehanna RR., $854,000;
shares Rensselaer A. Saratoga RR., $1,607,700; 6,161 shares Delaware
interest on repair bonds, $7,44o. (V. 39, p. 2 L.)
AHudsou Canal, $616,100; sundry stocks, $145,650.
Delaware Division.—Leased to Lehigli Coal & Navigation Co. at —(V.38, p. 177, 292, 571; V. 40, p.195, 213.)
interest on bonds and 4 percent a year on stock. To Jan. 1,1885, 28,514
Lehigh Coal Sc Navigation.—The Central Railroad of New Jersey
shares were converted into Lehigh Coal & Navigation stock, leaving assumed (in purchase ol equipment) $2,310,000 of the gold loan due
4,153 shares unconverted.
1897 and leases the Lehigh & Susquehanna Railroad. The Lehigh A
Delaware Sc Hudson.—The Delaware & Hudson Canal Co. was Wilkesbarre Coal Company assumes $500,000 of the gold loan due 1897,
Chartered April 7, 1823, and the canal from Rondout N. Y., to Houes- aud $771,000 (all) of the convertible gold loan due 1894. Bonds matux-
*
16,077
STOCKS AND
CANAL
April, 1885.]
Subscribers will confer a great favor by giving
DESCRIPTION.
on
first page
Lehigh Goal <£ Navigation—(Continued)—
Consolidated mortgage loan
Greenwood 2d mortgage, reg.
General mortgage
Extended, 1877..
Preferred stock
New mortgage (for $1,000,000)
Boat loan
Preferred stock scrip dividend
....
m
_
....
.
....
pref. bonds, 1st mort
—
pref., 1st T. W. priority b’ds.
bonds of 1872,4th mort
■
.
....
1,000
1,000
1,000
....
1,000
500
500
85
*
*
*
•
*
•
•
•
Board of Managers’re
disbursements:
1QQQ
1882.
1QQ1
and Nesque. Tunnel. $1,445,190 $1,614,695$1,458,200
65,552
77,444
Lehigh Canal
55,699
20,^81
20,525
Water Powers Lehigh Canal
21,065
58,951
57,745
Delaware Division Canal
47,586
370,101
386,351
Net profit on Lehigh Coal
325,666
3,642
4,441
7,209
Royalty on coal mined by lessees ....
33,463
36,531
Revenue from rents
31,973
12,157
22,358
Miscellaneous receipts
4,824
From railroads
Total receipts
Disbursements—
General and legal expenses
Rent and taxes Nesquehoning Val.RR
Rent and taxes Delaware Div. Canal.
$1,939,212 $2,194,489 $2,048,551
1884.
1882.
1883.
$58,460
$65,064
$62,892
97,050
81,438
71,916
934,377
97,050
102,356
74,648
942,973
Taxes
Interest account
69,921
80,078
854,069
$1,279,919 $1,249,845 $1,159,578
$659,293 $944,644 $888,973
Balance of income
The annual report for 1884 in Chronicle, V. 40, p. 239, said:
The earnings of the Lehigh
Susquehanna Railroad show this year a
deoreaseof $638,656, due almost entirely to the falling off in coal ton-'
nage and in coal freight rates.
The net revenues from all sources were $2,048,551, being $145,938
less than last year—a loss almost wholly due to the deorease in railroad
revenue, which was $177,528.
Every other department of the business
shows gains except the coal, which yielded $16,252 less than in 1883.
notwithstanding the decrease in the cost of miuing.
The disbursements for rentals, interest, taxes an l general expenses
decreased $90,266. From the balance remaining after deducting these
charges from the total revenue, $156,743 was appropriated for the
depreciation on coal improvements and for the coal sinking fund of ten
cents per tou; $718,228 was paid in dividends, and the remainder,
$14,000, was placed to the credit of the dividend fund.
matured April 1, 18 8 4. Holders
privilege of extension to July 1,
1914, with i itbrest at the reduced rate of four and one-half per cent,
and the holders of the remainder, $381,840, were paid at the maturity
of the loan.
HENRY
L.
Par.
Bl’cker St.& Fnlfc.F.-Stk
1st mort
Br’dway & 7th Av.—Stk.
1st mort
Brooklyn A y—Stock—
1st mort
Bk’lyn Gross! own—Stock
100
1,000
100
Amount. Period.
$900,000
THE
Rate.
34 Jan., 1885
J. & J.
700,000 J. & J. 7
2,100,000 Q.-J. 2
1,500,000 J. & D. 5
10 2,000,000 Q.-F. 3*3
800,000 J.& J. 5
1,000
100
1,000
Christ’ph’r&lOth St—Stk
100
200,000 A.&O. 4
400,000
J. <fc J.
1,800,000 Q.-J.
1,000 1,200,000 J. &D.
100
Bonds
Central Crosstown—Stfe.
1st mort
1,000
DiyDk.E.B.& Kat’y—Stk
■1st mort.. consol
tj Scrip
100
500
100
100
1,000
7
2
7
650,000 Q.—F. 2*3
250,000 A.&O. 7
6U0.000 Q— J. 1*3
M.&N.
250,000
1,200,000 Q.—F.
64
900,000 J. & D. 7
1,200,000
F. & A.
....
This column shows last dividend on stocks
BONDS
Date.*
1,000
1st moi t. bonds
Oent.Pk.N.A E.Riv.—Stk
Consol, mort. bonds
*
IN
Bid.
24 *v
July, 1900 111
Jan., 1885 170
June, 1904 104 h
Feb., 1885 216
Jan., 1902 106
Jan., 1885 155
Jan., 1888 105
Jan., 1885 140
Dec., 1902 121
Feb., 1885 132
Oct.. 1898 110
Jan., 1885 150
Nov.,1922 111
Jan., 1885 190
June, 1893 114
Aug.,1914 104*3
6
35o.
70o.
6
6
6
6
6
7
6
6
6
6
7
6
When
Where
Payable, and by Stocks—Last
&
&
&
&
&
&
&
&
D.
Philadelphia Office.
do
do
A.
N.
do
do
A. Leh. Val.RR.Co.. Phila
do
A.
do
do
do
0.
do
O.
do
A.
do
do
& J.
J.
....
Q. -M.
&
&
&
&
&
&
&
&
&
&
&
J.
J.
N.
N.
N.
J.
J.
J.
J.
J.
N.
June 1,1911
1892
1924
Feb., 1885
Feb., 1885
April 1,1906
Oct., 1885
Feb., 1889
Phila., 233 So. 4th St.
July, 1910
Philadelphia, Office.
Feb. 15, 1884
Feb. 15, 1884
do
do
do
do
do
do
do
do
do
do
do
do
do
do
Phila. and Baltimore.
do
do
do
do
do
do
do
do
....
J.
J.
M.
M.
M.
J.
J.
J.
J.
J.
M.
Dividend.
Whom.
Payable
J.
F.
M.
F.
F.
A.
A.
F.
pal,When Due.
Philadelphia, Office.
March, 1897
1882 to 1907
1895
May,
May,
May,
Jan.,
1880
1913
1915
1885
Jan. 1, 1918
Jan., 1894
Jan., 1894
Jan., 1902
May 1, 1883
For the purpose of raising funds to pay off floating debt, to make the
settlement with Nesquehoniug Valley, &o., the general mortgage was
authorized in 1884.
A majority of the stock of the Alliance Coal Mining Company has been
purchased. The report says: “This was done largely by the exchange
of our stock for theirs, $650,400 of Lehigh Navigation stock being given,
for $975,600 of Alliance stock. By this purchase we became possessed
of about sixty-two per cent of the total share capital of the Alliance Coal
Mining Company, which owns an unincumbered estate of 4,097 acres in
the same valley in which lie our Lehigh lands.”
(V. 38, p. 228, 261,
301,424,540,239.)
Morris.—Leased April, 1871, to Lehigh Valley Railroad
The lessees assume bonds and scrip, and pay 10 per
annum on pref. stock and 4 per cent on consol, stock.
years.
for 999
cent per
Pennsylvania..—Worked in interest of Pennsylvania RR., which
guarantees interest on bonds. An old mortgage balance of $86,000 is
due in 1887. Earnings in 1884, $319,685; net, $127,317; interest, taxes,
&c., $180,330; loss, $o3,0l7. Earnings in 1883, $395,218; net, $191,446;
interest, &c„ $183,060; balauoe,
$8,386
;
add taxes refuuded, $28,285
;
total, $36,672.
Schuylkill Navigation.—Leased from June 1, 1870. to Philadel¬
phia <fe Reading for 9;T9 years. The rental payable by P. & R. in 1884
$635,776. Expenses of all km Is. iucluliug *50,827 disbil *8 *.d in
dividends, were $>82,512.
The P. & R. receivers in July. 188 4, de¬
clined to furnish money for divuleu ls on sto ;k, claiming tuat it ua l not
been earned, and this question went bef n*e the Court. The P. & R. has
paid some of the coupons and purch ised others. In March. ’83 the pro¬
posal from Phila. & Rea iiug to m u*g.s this company by giving one share
of Phil. & R. stock for two of 8. NT. preferred and one share of P. h R for
was
four of 8. N. common was
p.
rejected.
(V. 38, p. 201; V. 39, p. 522; V. 40,
240.)
Susquelianua.—Leased aud operated by Philadelphia & Reading
Railroad.for interest on bonds and half of net earnings. The stock is ex¬
changed for Pnila. & Reading, two of canal stock for one of Reading,
Tne
floating debt is considerable.
Union.—Stock, $2,9 >9 850. Of the bonds $1,897,090 are hold by
the Phila. & Reading RR. Co. which will prob ibtv foreclose the mort.
Foreclosure proceedings are pending. ( V. 38, p. 178; V. 40, p. 454.)
145 BROADWAY, NEW YORK.
GRANT, NO.
DEALER
2
5
7
7
7
3,000,000
•
97,050
Total disbursements
The first mortgage loan of $5,381,840
of $5,000,000 of this loan accepted the
97,810
250,000
1,000
1872
4ia
103.164
4,501,200
2,934,000
690,812
3,285,150
1,709,380
3,990,392
1,200,000
228,000
756,650
628,100
1,000,000
1,324,000
227,500
1,000
1,000
m
’4l-’64
JJnion—1st mortgage
ing 1884 were extended till 1914 at 4*a. The
port has the following statement of receipts and
.
7
7
643,000
1.000,000
1,025,000
1,175,000
780,000
220,000
50
50
1870
1863
1864
1839
1859
»44-’64
....
Susquehanna— Maryland loan, 2d mortgage
Susquehanna Canal, common bonds, 3d mort
.
$2,470,750
1,000
....
Boat and car loan
Boat and car loan
Receipts—
m
Rate per
Cent.
1,000
....
m
Outstanding
various.
various.
50
1870
....
Amount
100
100
1876
1865
1869
....
Improvement bonds
do
$1,000
1,000
1,000
....
....
Preferred stock
1st mortgage, extended
2d mortgage
Mortgage bonds, coup, (payable by P. & R.)
Par
....
337
337
108
Pennsylvania—Stock.
General mortg., interest guar’d by Penn. RR
Schuylkill Navigation—Stock, common
or
Value.
1884
....
103
103
103
103
Bonds— Princi¬
INTEREST OR DIVIDENDS.
Size,
1871
1872
....
Jform—Stock, consolidated
do
do
immediate notice of any error discovered in tliese Tables.
Miles Date
of
of
Canal. Bonds
of tables.
91
BONDS,
AND
STOCKS
OF EVERT ROAD.
Par.
Ask.
St.F’ry—Stk
25*3
112*3
171
105*3
42d & Gr’nd
1st mort
220
110
160
112
142
Houst.W.St.&P.F’y—Stk
122
137
116
160
113*3
195
116*3
Eighth Ave.—Stock
Scrip
1st mort
Second Ave.—Stock
1st mort
.tf.
Consol
100
1,000
100
100
100
500
100
1,000
1,000
100
1st mort
Third Ave.—Stock
1st mort
Twenty-third St.—Stock.
1st mort
105
and date of maturity of BONDS.
1,000
100
1,000
100
1,000
100
Amount. Period.
Rate.
Date.*
Bid.
Feb.. 1885 240
Apr., 1893 111
1.000,000 Q.—J. 2*3 Feb., 1885 240
Aug., 1914 105
1.000.000 F. <fe A. 6
Feb., 1885 140
250,000 Q—F. 2
July, 1894 111
500,000jj. & J. 7
5
Feb., 1885 183
1,862,000 J. & J.
Nov.,1909 105
550,000 M.&N. 5
May, 1888 105
1,050,000jM.&N. 7
1,500.000 M.& S. 10 Mar., 188 4 160
500,000iJ. & J. 7 July, 1890 110
Feb., 1885 294
2,000,0001 Q.—F. 4
2,000,000! J. & J. 7 Jan., 1890 111
Feb., 1885 196
600,000 !F. & A. 4
May, 1893 110
250,000;M.&N. 7
110
800.000!
$748,000 Q—J.
236.000 A.&O.
4
7
Ask.
265
116
260
110
150
113**
190
106
106
115*
300
113
200
113
116
Subscribers will confer a
great favor by
explanation of column
first page
INTEREST OR DIVIDENDS.
headings, Ac., see notes on
of tables.
$2,800,000)
1884
1,000
1874
1,000
100
100
100
100
1880
1,000
1872
100
1.000
100
m
—
m
m
m
....
Bonds, Knickerbocker Gaslight Co
Cumberland Coal & Iron— 8toek
International Ocean Telegraph—Stock
Iowa RR. J and Co— Stock
Iron Steamboat Company—Bonds
Lehigh dt Wilkesbarre Coal—Stock
Sterling loan
Mortgage loans ($110,000 are 7s)
.
Consol, mort. ($0,116,000 held by Cent, of
Sundry small mortgages
100
....
100
500
1881
m
m
m
m
....
....
N. J
1875
1,000
....
100 Ac.
cumulative)
Exprcss.-No reports; no information.
American Bell Telephone Co.—See report for the year ending
annual report
Adams
p
1
393, 423.
American Telegraph A: Cable Co.—Owns two cables between
Sennou Cove, England, and Dover Bay, Nova Scotia. The stock of
$10,000,000 was 70 per cent paid up, and in April, 1882, a pooling ar¬
rangement was made with the other cable companies for 38 years, by
which this company receives 22 ** Per cent of combined revenues while
both its cables are working and 121* per cent if only one is working,
which percentages hold good for one year after any breaking of the
cables; if not repair* d within that time the percentages are reduced
according to the time that the cables remain broken. Then this com¬
pany’s cables were leased to Western Union for 50 years, with a guar¬
anty of 5 per cent per annum on the stock increased to $14,000,000.
American Coal.—There are mortgage bonds for $200,000. The
annual report for Ij-84 in V. 40, p. 268, gave the following information:
Income, 18t4, $492,726; total expenses, $471,972; balance, $20,754.
Total assets December 31, 1884—Lands and real estate at mines,
$1,542,365; real estate at Jersey City, $100,710; mine improvements,
$15,000; cash and demand loans, $50,241; wharf improv. at Jersey
City, $5,000; per.'onal property at mines, $31,234; personal property
accounts, $65,83');
at wharves, $2,662; bills receivable. $48,876;
canal boats, $10,300; value of coal on hand, $27,084; office furniture,
Dec. 31,
1884, in Chronicle, V. 40, p.
6 g.
N.
scrip!
A S. N. Y., 110 Broadway. Sept. 10, 1877
Jan. 2, 1885
& J. N. Y., Company’s Office
Dec. 10, 1883
New York,
Q.—J.
Jan. 1, 1904
do
J. & J.
Jan. 8, 1885
Nov. 12, 1872
Boston, Office,
June, 1884
do
J. & D.
J.
eg.
F. & A,
6
J.
A*J.
F.
M.
J.
A.
J.
& A.
A N.
N.Y., Company’s Office. Feb. 1, 1900
N.Y., Co.’s Office, 71B’y Jan. 29, 1885
Jan. 1, 1897
do
do
N. Y.,
6
7
6
6
3
1
6
Jan. 1, 1904
Jan., 1875
New York or London.
jj. & J.
*7*
170,000
687,000
500,000
3,<J00,000
4,437,000
500,000
8,700,000
1,811,000
466,879
11,500,000
673,120
3,472,200
....
Y., Company’s Office, Mar. 1, 1885
Boston, Compy’s Office, April 15,1885
Mar. 1, 1885
—M. N. Y., West. Union Tel
25
10 s.
7
658,000
m
Stocks—Last
Dividend.
!.-J.
3
2
7
Whom.
Payable
-M.
2
3
5
35,430,000
291,000
.
Bonds, Harlem Gaslight Co
Income bonds, reg. (not
9,602,100
14,000,000
1,500,000
18,000,000
3,000,000
5,115,000
800,000
4,720,815
2,148,000
(?)
323,000
2,231,900
4,066,000
10,000,000
3,499,000
10,250,000
2,467,500
1,000
1874
Consolidated Qas (N. Y )— Stock
Bonds, Municipal Gaslight Co
Gaslight Co
Cent.
pal,^When Due.
Payable, and by
Where
When
Outstanding
50
Canton Company—Stock
Mortgage bonds, gold, sixes (for $2,500,000)
Central New Jersey Land-Stock
Central <& South American Telegraph—Stock...
Colorado Coal <& Iron—Stock
1st consol, mortgage, gold
Consolidation Coal of Maryland—Stock
1st mortgage, consolidated, convertible
Bonds, Metropolitan
Amount
Par
Value.
10
Boston Land—Stock
,
Boston Water Power—Stock
Mortgage bonds (for
Bonds
Size, or
100
100
25
100
atithor’d).
gold (for $10,000,000)
Date
of
$100 $12,000,000
Adams Express—Stock
American Bell Telephone— Stock
Amer. Tel. dt Cable—Stock, guar. 5 by West. Union
American Coal {Maryland)-Stock
American Express—Stock
Bankers' & Merchants' Tel.—Stock ($10,000,000
Mortgage bonds,
discovered in these Tables.
Bonds—Princi¬
giving Immediate notice of any error
DESCRIPTION.
For
[Vol. XL.
BONDS.
MISCELLANEOUS STOCKS A.ND
92
Company’s Office
do
do
-
do
do
do
do
& D.
& O. N.Y., 19 Courtland St.
& J. N. Y., West. Union Tel
Boston, Treas. Office.
Q.-F
J. A J. N. Y., Mercantile Tr. Co
,
May 1, 1888
Aug. 1, 1901
Nov. 1, 1885
June 1,
Oct. 15,
Jan. 1,
Feb. 1,
July 1, 1901
1899
"g
6 & 7
7
Q.-M.
5, 6 & 7
M.’a’n
7
N. Y., 160
do
do
do
Broadway,
do
do
do
June 1, 1900
May‘lV
N. Y. (V. 40
James A. Scrymser, Pres’t,
V. 40, p. 150.
Colorado Coal & Iron.—This company, with headquarters at Col¬
Col., was a consolidation Dec. 13,1879, of the Central
orado Springs,
Colorado Improvement Co., the Colorado Coal A Steel Works, and the
Southern Colorado Coal A Iron Co. Stock is non-assessahle.
An abstract of the report of 1884 was in the Chronicle, V. 40, p. 392,
showing gross earnings and net income as
Earnings and expenses were as follows:
statement of earnings
and expenses.
1884.
1883.
,
Coal department
Ccke department.
Iron and steel dep’t....
Iron mines dep’t
Real estate dep’t
Miscellaneous
below stated.
Gross
Net
Gross
Earnings.
Earnings.
$1,055,837
Earnings.
$153,932
513,693
125,924
2,365,710
4,157
359,764
118,949
92*^,011 loss.63,553
39,567
447
40,395
22,585
27,532
10,630
6,743
6,743
4,692
4,692
Totals
$4,122,145
Interest from investments
$313,307
$2,088,900
$131,191
6,753
139,765
$137,944
Total income 1884
Bankers & merchants’ Telegraph.—Organized March 31.
4881, under laws of New York State. Authorized capital, $10,000,000,
3n Sept., 1883, this company negotiated for the control or the .-took of
the Southern and the Am. Rapid Telegraph, making a practical consoli¬
dation of the three lines. The following outline, published unofficially,
<was in the Chronicle, V. 39. p. 316: “The American Rapid Telegraph
Company is bonded for $3,000,000 and stocked tor $3,000,000. The
./
In the real estate department the earnings are wholly from
houses, lands, Ac., containing no receipts from land sales.
-(V. 38, p. 261, 294, 358, 379, 423; V. 40, p. 392.)
.Southern Telegiaph Company is bonded for $2,500,050 and stocked for
$5,000,000. The line of the Bankers’ A Merchants’ from New York to
Philadelphia is bonded for $290,000. payable $10,000 per year. The
Bankers’ A Merchants’ own a majority of the stock of the Rapid and the
Southern, and a majority of the Rapid bonds. The B. & M. owns 4,700
outstanding of the Commercial Telegram
The interest on the Rapid bonds was defaulted Sep¬
tember 15, but foreclosure proceedings cannot be begun for six months.
Of the $10,009,000 of first mortgage bonds of the Bankers’ A Merchants’
$5,115,000 were sold and $4,786,000 pledged as security for $784,874
notes of the Co.
In September the B. A M. Co. failed to meet obliga¬
tions, and Richard S. Newcombe and James G. Smith were appointed receivers and authorized afterward to issue about $1,500,000 receivers’
certificates to pay floating debts and redeem the bonds pledged as col¬
lateral ; also to pay interest on the American Rapid and Southern Tele¬
graph bonds, and the $10,000 per year due on principal of the divisionalshares out of the 9,200 shares
Companies stock.
tgage, Ac. A separate receiver was appointed in Virginia for the
Southern Tel. Co.
(V. 38, p. 29, 202. 350, 447, 707; V. 39, p. 71, 129,
263, 295, 316, 448, 381, 482, 681, 734; V. 40, p. 53, 240, 303, 363, 423.)
mo;
Boston Land.—The capital stock of 80,000 shares of the par value
of $10 each, or $?00,000. Operations and assets Jan. 1, 1884, shown
in the annual report in V. 38, p. 136. (V. 38, p. 136.)
Boston Water Power.—The shares have strictly no par value.
There are 85,833 shares called “proprietary” shares, or the number into
which the property of the company is divided. The assets consist mainly
of lands on and near “Back Bay,” in Boston, put in the company’s re¬
considerable sales of land
Company (Balt.)—The capital
stock in 1853 was made
50,000 shares, par $160 of shares nominally, but practically only $16 25,
and was afterward reduced by purchase and cancellation to 44,300
Bhares. A brief history of the company was given in V. 30, p. 117. The
company
,
i
t
owned the stock of the Union RR. Co. and guaranteed its bonds
"but .sold this stock ($600,000) to the Northern Central RR. iu April,
1882, for $594,000. Tin* Union RR. sinking fund of $689,885 remaiued
the property of Carton Co., but is held by the trustees till bouds have
been paid ofi’ at maturity.
Central New Jersey Land
v
two years
Improvement.—The statement for
ending Decernler 31, 1883, showed total receipts in IS82
Net
Earnings.
$729,331
$60,025
Less interest, discount
Less interest on bonds
Canton
1888
150.)
1,000;Chesapeake
G. C. A C. ARailroad
stock,
$160,000;
$15,385
f500;
Ohio Canal
bonds,
$1,000;sinking
C. & P. fund,
Railroad
stock,;
.total, $2,080,194. (V. 40, p. 268.)
port at a valuation of $4,428,141. In 1883
were made and bonds reduced accordingly.
1898
1875
1885
1885
of
?91,944,
and
1883 ofvalue
$94,771.
The owned:
balanceNewark
sheet, December
31,
883, gave
thein
of lands
following
lands, $262,-
199; Bergen, $565,855 : Blizabeth, $164,950; Westfield, $26,307; Fanwood, $478,408; Plainfield, $336,326; Dunellen, $346,048; Somerville,
9,885
209,940
and exchange.
$219,825
Net deficit for
1884
$81,880.
rentals of
York.—This company was organized
under chapter 367, laws of New York, 1884. The com¬
panies merged in it were the New York Gaslight, the Municipal Gas¬
light, the Metropolitan Gaslight, the Manhattan Gaslight and the Har¬
lem Gaslight
The total stock was $39,078,000, of which $3,647,900
was reserved for working capital and for indebtedness of old companies
Consolidated Gas of New
Nov. 11, 1884,
Consolidation Coal.—The annual
had the
report for 1884 in V. 40, p.
268
following:
1833.
1884.
were.$1,750,591 $2,222,032
1,904,603
1,514,858
The gross receipts from mines, railroads, rents,
Ac (inel’g value of st’ckof coal on hand),
Tot. expen’s of every kind (excl. of int A sink, fd.,
but incl. steel rails A all extraordiu’ry outlays).
$235,733
receipts
Net
$317,479
1884 took $213,534; balance, surplus, $103,944.
Consolidated mortgage bonds are held to retire old bonds. This com¬
The int. and sink. fd. in
pany
guarantees also 2d mortg. bonds of the Cumberland A Pennsyl¬
and assumes $135,000 of the Union Mining Co.’s bonds. The
and railroads is $2,437,500. (V. 38, p. 293 ;
vania,
total bonded debt on lauds
V. 40, p. 268.)
International Ocean Telegraph Co.—The Western Union Co.
operates the line oy contract for 99 years from Jan. 1, 1882, paying
per cent per year on stock.
6
Iowa Railroad
March 31, 1883. (V.
Iron
Land.-The total land owned was
38. p. 678.)
65,328 acre*
of seven iron steamboats.
Stock, $2,000,000.
Steamboat Co.—Property consists
Bonds and stock
listed in June, 1882.
Lehigh Sc Wilkesbarre Coal.—This company was organized Feb.
6,1874. It is controlled by the Central RR. of New Jersey through
ownership of a majority of the stock, and the Central of New Jersey
owns $6,116,000 of the consol, mortgage bonds and $2,353,000 of the
income bonds. The company was in receiver’s hands with Central of
New Jersey, and in March, 1882, the receiver was discharged and prop¬
erty returned to its stockholders. Mr. W. H. Tilliughasf, President,
New York City. The annual report for 1884 was in V. 40, p. 303.
Marl
riposa Land Sc Mining.—There are
shares the balance being owned by company.
,
outstanding only 15,0
Litigation is in progrei
Maryland Coal Co.—The business of 1882
of 97,7/7 tons.
The profit and
included total shipment*
loss account in 1882 was as follows: Balance Jan, 1,
$77,861; Clinton, $4,780; Bloomsbary, $26,345; Phillipslmrg,$1,500; 1882, $16,780; balance credit coal account, $21,885—$41,666. Ex¬
total, $2,290,582. Bonds, Ac., $22,084; land contracts, $10,747.
penses—interest, $7,091; interest on bonds, $11,270; taxes, $7,4815
salaries and expenses, $13,221; legal expenses, $501—$40,276; balance
Central Sc South Am. Telegraph.—Line from Vera Cruz, Mex¬ Jan. 1, 1883, $1,389.
ico, to Lima, Peru, with branches, 3,100 miles of cable and 300 miles of
Mexican Telegraph. - Galveston to Tampico and Vera Cruz;
land lines.
Completed November, 1882. Connects at Lima with West
Coast Tel. Co. of America, having 1,700 miles of cable to Valparaiso, line, Vera Cruz to Mexico City. Has exclusive right for 50 years for all
and at Vera Cruz with Mexican Telegraph Co. Stock is $5,000,000; no foreign telegrams to Mexico, except telegrams to and from a neutral
bonds. In 1884 and to Jan. 13,1885, net earnings were $195,318. See zone on the U, 8. border 156 miles wide, between the Gulf and Pacino
land
April,
Subscribers will confer a great
INTEREST OR DIVIDENDS.
explanation of column headings, &c., see notes on
page
Marivosa Land <t
Preferred stock
of tables.
first
Date
of
Size, or
Bonds
Value.
1,000
Bond
Telegraph—Stock
.
Pennsylvania Coal—Stock
1,194,000
5,000,000
2,500.000
5,000,000
1,500,000
3,133,200
4
1
ioo
1,000
($21,000,000)
ioo
1,000
1,000
1,000
Bonds,
sterling debenture
Quicksilver Mining—Common stock
cumulative
Railroad Equipment Co.—Stock (for $1,500,000)
Coupon bonds. (See remarks below.)
St. Louis Bridge <t Tunnel HR.—Bridge stock, common.
Var’s.
1st preferred stock, guar
2d preferred stock, guar
Ocean. Companjrowns 1,362 shares of the Cent. & So. Am.
enues in ’84, $228,801; expenses, $69,896; dividends, 8
1884, of $280,769.
mutual
& J. N. Y., Drexel, M. &
do
do
& J.
miles of
guaranteed divi¬
a year to 6 in
Co.—This company owns $3,000,000 stock
Columbia A
Coal.—Liabilities at a
V. 40, p. 29, 120, 304,
minimum, and 16 p. c. divs-
Telegraph Sc Cable—Lines to
extend from New YTork to
which
recorded this week,
is merely the
consideration for some time
correcting certain
legal irregularities in the organization and conduct of the original com¬
pany. When the present owners secured control, they discovered that
the previous management had not always acted in strict conformity
with the State laws, and while their counsel were of the opinion that
the irregularities were not sufficient to vitiate the company’s charter,
it was decided to organize a new company. The conveyance made to
the Postal Telegraph & Cable Company was in accordance with this
decision. Iu July, 18s4, a contract for joint working and pooling of re¬
ceipts was made* with Bankers’ & Merchants’ and the Baltimore Sc Ohio
Telegraph companies, but the B. and M Co failed, and the pool was dis¬
solved. (V. 38, p. 31, 707; Y. 39, p.71.129, 402.)
Pullman Palace Car.—The stock has been increased from time to
time to provide new capital, as wanted, since the price ruling above
par, gave a bonus to stockholders when subscribing for new stock.
Annual report for year ending June, 1884 was In Chronicle, V. 39, p.
The*
460.
30, 115, 332, 595. 731; V. 39, p. 48, 182, 234, 349, 436, 554, 734 ; Y.
40,*p. 214, 304, 364, 454.)
Pacific Mall Steamship.—The Pacific Railroads give to the steam¬
ship company a monthly subsidy of $95,000 per month, and six months’
notice is required to terminate the agreement. The annual report for
fiscal year ending April 30, 1884, was in the Chronicle, Y. 38, p. 645.
The following is a statement of the earnings and expenses for the
ending April 30,1882,1883 and 1884:
EARNINGS.
1882-83.
Atlantic Line
Panama Line
'
$693,065
$799,767
1.675,777
1,844.462
715,732
Anstral’n&N. Zealand subsidies..
Cent. Am. & Mexican subsidies....
Hawaiian Government subsidy...
Interest and divs. on investments.
353,200
173,980
1S0.190
90,463
102,8u0
5,500
17,941
27,766
105,500
5,500
61,616
33,273
8,000
13,663
37,698
3,876
Miscellaneous
Exchange
14,694
45,666
$4,102,764 $4,787,899
$4,124,713
Total
3,190,507
3,223,036
Expenses
$991,094
334,870
208,931
1,058,370
Tran 8-Pacific Line
Australian Line
1883-84.
1.790,927
1,251,762
369,283
3,394,419
$912,257 $1,393,480
The following is a statement of the financial condition of the company
on April 30, 1882, 1883 and 1884 :
Net
$901,677
earnings
ASSETS.
1882.
Cost of steamers
$11,971,158
Real estate and improvements....
1,079,513
450,072
supplies, &c
Sundry assets
Coal
1884.
$12,382,159 $11,266,815
1,079,513
1,079,513
512,328
7,671,576
Profit and loss
Total
1883.
369,774
264,947
7,198,895
478,301
1,286,981
7,076,209
$21,634,647 $21,295,288 $21,187,819
LIABILITIES.
Capital stock
San Francisco—Unpaid bills
New York—Unpaid bills
Panama RR. Co.—Loans
Traffic account
Do.
Coal freights...
John PirTe & Co. (coal)
Agents’ balances
Due connecting steamship comp’s.
Miscellaneous
Total
$20,000,000 $20,000,000 $20,000,000
72,153
44,167
1,212,632
80,576
27.104
6,082
184,174
28.926
65,396
1,013,528
76,123
20.166
76,793
833,944
71,546
11,470
47,126
1, 1885
1, 1885
V. 39, p. 72.436, 707;
Iucomeaceouut for three years was as follows:
1881-82.
1832-83.
$
Revenue—
Earnings (leased lines
included)
Proportion of earnings other assoc’ns.
Patent royalties and tnanuf. profits...
Profit and loss
Total revenue
Disbursements—
Operat’g expenses (leased lines
Maintenance of upholstery, &c
Prop’ll of expenses, Ac.,
Rental of leased lines
Coupon interest on
incl’d)
other assoc’ns
bonds
Dividends on capital stock
Profit and loss
Balance of surplus for the year
-(V. 38, p. 230, 247; V. 39, p.
582,231
339,321
528,256
488,231
543,947
3,737,538
4,093,245
4,456,457
605,596
13,116
976.380 1,110,932
217,634
205,455
175,702
136,556
264,000
264,000
264,000
169,043
171,074
171,466
870,937 1,235,142 1,339,621
917,308
207,156
148,427
20,995
Total disbursements
Net result
Balance of account for rebuilding,
1883-84
$
$
2,815.986 2,946,277 3,424,279
p.
1881-82.
Jan.
Jan.
this purpose.
deed of conveyance,
was
states the consideration at $10,498,500. The transfer
fulfilment of a plan which has been under
for reducing the capital stock of the company and for
Puget Sound RR.; $1,969,000 stock of the Pacific Coast S. S. Co.;
170,000 acres of lauds, and other real estate. Floating debt July 1,
1884, $981,000 (see balance sheet, V. 39, p. 182). For year ending Nov.
30, 1883, gross earnings were $4,161,06 i; net, $342,044. For year
1884 gross earnings were $3,414,879; net $-09,000. For three months
from Dec. 1, 1884. gross earnings were $673,366, against $758,788 for
same time in 1883-4; net, $127,601, against $124,212 in 1883-4. (V. 38,
years
Co.
of
$300,000 bonds
Transp. Co.; $575,000 stock of the
Various.
do
do
Feb. 16,
Feb. 15,
Chicago, New \ork to Washingou, New York to Boston, Buffalo to
Pittsburg, Fostoria, Ohio, to Toledo, and Chicago to St. Louis, most
which were in operation on Jan. 1, 1884. Of the stock $7,000,000
is
outstanding. $12,000,000
is held in trust, and balance
remains in
treasury.
Mr. J. W. Mackey is the President.
The
name
of the Postal Telegraph Co. was changed November, 1893.
(See V. 37, p. 564), The following account was given of the change in
the organization:
“The Postal'Telegraph Company has sold all its
Cable Company,
property and franchises to the Postal Telegraph
which was recently organized under the laws of this State expressly for
Telegraph.—This company owns 8,000
Oregon Improvement
of the Beattie Coal
■
2ia
Pennsylvania
—(Yol. 40, p. 241.)
The bond interest is guaranteed.
1885
1387
Aug. 15, 1892
Oct. 15, 1888
April 1. 1885
May, 1882
Feb. 26, 1884
N, Y., Clark. Post & M. Feb. 1, 1835
paid.
reported
Syndicate) and half of the $6,000,000 land scrip retired, the holders
being secured by debentures given by the purchasers of the land and de.
posited intrust. This would leave about 3,500,000 acres of land unsold.
1897 and afterward.
May 1, 1885
1, 1885
Feb.
Broadway.
N.Y., Farm L. & T. Co.
do
do
do
do
do
do
A. & O.
A. & O. Lond’n, J.S.Morgan&Co
Q.-F.
Q.-F.
364. 431.)
5,000,000 acres, which were given in settlement to the holders of con¬
vertible and second mortgage bonds. Up to Oct., 1883, it was
that about 1,500,000 acres had been sold (largely to the Franeklyn
Northwestern
1884
1835
May 1, 1911
March, 1885
N.Y.Am. Exeh. Nat. Bk.
—(Y. 38, p. 480, 630, 645 :
Land—This company took the lauds granted
Houston <fc Great Northern railroads, about
wire and is leased to Western Union for 99 years, with
dends of 4 per cent at first, rising one-eighth per cent
N. Y., Ill
Q.-F.
J.
J.
268.)
New York Sc Straitsvllle Coal Sc Iron.—Has
The stock admitted to New York Board April, 1880.
Q.-F.
Q.-F.
212
1^
115; Y. 39, p. 494.)
New York Sc Texas
to the International and
J.
J.
M.
J.
6
Tele graph.—The Mutual Union
1835
April, 1880
New York.
& J. N. Y. West. Un. Tel. Co. Jan. 1, 1885
Jan. 1, 1904
do
do
& J.
Sept. 15, 1883
& S.
& D. N. Y., Farmers’ L.&T.Co Dec. 1, 1910
2,500,000
2,490,000
3,000,000
Telegraph
Co. was organized under New York State laws. Stock was $600,000 and
afterward increased to $10,000,000. In Feb., 1883, a lease to Western
Union for 99 years was agreed to at 1^ per cent yearly dividends on
the stock and interest on the bonds. The organization was changed to
the New York Mutual Telegraph Company and the stock was reduced to
$2, 500,000, carrying dividends of 6 per cent per annum. (V. 38. p. 30
New York
1876
1906
M’nthly
4,102,000
Postal
1886
1900
1
2
7 g.
4
6 g.
900,000
Jan. 1,
Jan. 1,
Nov. 1,
Feb. 11,
Feb. 12,
Jan. 15,
....
6
2
8
8
7
.7 g.
40c.
3
4,291.300
*
N. Y., Company’s Office.
New York, Office.
New York.
M. & N. New York, 1st Nat. Bk.
1>4
49.500
»
..
....
4
5,708,700
-
100
100
100
$114,752; surplus, $14,156. Jas. A. Sorymser, Prest., N. Y. (V. 40, p. 182.)
New Central Coal (Md.)—The annual report for 1884 showed net
profits for year of $8,85 4 ; and balance to credit of profit and loss
(V. 40, p.
*
1,000
p. c.,
11
t
Q.-F.
Quar’ly
Tel. Co. Rev¬
New York.
& J.
7
820,000
£100
100
100
100
Payable
••••*•••••
3
6
10
955,000
Stocks—Last
Dividend.
Whom.
....
*
pal,When Due,
Payable, and by
Where
-
322,515
1,500,000
2,500,000
1,180,000
7,000,000
4,852,000
20,000,000
5,000,000
7,000,000
3,000,000
15,924,800
445,000
■
When
J.
100
100
.
1872
1872
1878
1875
«
7
100
50
Postal Telegraph <£ Cable Co.—Stock
1st mortgage (for $10,000,000)
Pullman Palate Car—Stock
Bonds, 3d series
Bonds, 4th series
Bonds, debenture
•
•
161,000
100
50
1st mort., gold, sinking fund
Pacific Mail Steamship—Stock
•
•
1,000
50
1880
•
4,400,000
1,000
1881
...
•
•
100
25
guaranteed 6 per cent
mortgage bonds, gold, guar, by West. Union
yew York <k Texas Land (Limited)—Stock
Land scrip receivable 75 per cent for lands
Debentures, registered
yew York dt Straiisville Coal <& Iron— Stock
yorthweslem Tetegraph—Stock
Bonds, interest guaranteed
Oregon Improvement Co.—Stock
1st
Preferred 7 per cent stock, not
Rate per
Cent.
5.000,000
250,000
100
Maryland Coal—Stock
Dec. 31,
Outstanding
$100 $10,000,000
1875
yew Central Goal—Stock
y. T. Mutual Telegraph—Stock,
Amount
Par
Mining—Stock
Mortgage bonds
Mexican
discovered In these Tables*
Bonds—Prineb
immediate notice of any error
flavor by giving
DESCRIPTION.
For
93
MISCELLANEOUS STOCKS AND BONDS
1885.]
35,733
2,597,866 3,039,932 3,263,763
1,139,672 1,053,313 1,192,694
&c.
128,136
1.011,536 1,053,313 1,192,694
202, 460 ; Y. 40, p. 356.)
Mining.—Bonds paid off July, 1879. The preferred
not cumulative, and any surplus
equally.
Railroad Equipment Co.—This company leases equipment to
railroads on the “ Car Trust” plan, taking obligations of the railroad com
panies running not over ten years at the utmost, which cover the priuciinterest
of the special
galo. and
running
for similar
periods.series
The title remains in the lessor till last
payment is made, and then vests iu the purchasing railroad. In the
meantime the title is held in trust for bondholders and the bonds ar
virtually a mortgage on the rolling stock, till paid off.
St. Louis Bridge Sc Tunnel Railroad.—The railroad and tunnel
were sold under the mortgage of 1873, July 1, 1878.
Foreclosure under
the first and second mortgages on the bridge was made Dec. 20, 1878.
On July 1, 1881, the bridge and Tunnel Railroad were leased to the Mo.
Pacific and Wabash St. Louis & Pacific for the term of their cor¬
porate charters, on the terms following, viz.: Of the stock $2,490,000
1st preferred, by the terms of the lease, is guaranteed 5 per cent till Jan¬
uary, 1885, and then 6 per cent; $3,000,000 2d preferred is guaranteed
3 per cent per annum, the first semi-annual payment being July 1,
1884. The RR. stock of $1,250,000 is guaranteed 6 per cent a year.
The whole annual charge for rentals is $670,000, one-half payable by
Missouri Pacific and one-half by Wabash. The common stock was held
by the London Reorganization Committee, and under the lease was
transferred to Mercantile Trust Company of N. Y. with power to vote
thereon. The Tunnel Railroad stock is guaranteed 6 per cent per an
Quicksilver
stock is entitled to 7 p. ct. per annum,
goes to the common and preferred
of bonds issued by the Equipment
(V. 38, p. 295.)
66,200
num.
[On account of press of matter the page containing
Railway, Sutro Tunnel, U. States Express, Wells, Fargo Express
Western Union Tel. has been omitted this month, but will re-appear
20.104
17,460
25,980
37,655
35,258
88,190
$21,684,647 $21,295,288 $21,187,819
Sterling Iron &
and
next
Supplement.]
in.
BANK, GAS, INSURANCE
94
BANK
Capital.
Companies.
Mkd. thus(')
Par Amount.
are not Natl.
STOCK
AND CITY RAILROAD STOCKS.
Net
Capital.
Dividends.
Surplus
Par.
Latest.
Period. 1883. 1884.
100
100
100
25
25
100
100
25
100
25
100
.
CO o o
O-GJ o o o 1,581,500 J.
.
•
....
1
....
....
10 500
200 000
Madis’n 8a.* 100
984,300 F. A A.
Manhattan * 50 2,050,000
100
Market
500,000 376.600 J. A J.
25 2,000,000 1,193,100 J. A J.
Mechanics’
62,000 J. A J.
200,000
Mech. & Tr* 25
248,200 J. A J.
Mercantile.. 100 1,000,000
621,800 J. A J.
Merchants’. 50 2,000,000
143,800 J. A J.
Merch. Ex.. 50 1,000,000
Metropolis *. 100 300,000 207.100 J. A J.
41,500 J. A J
100,000
Mt. Morris*. 100
157,800 J. A J
100,000
Murr’y Hill* 50
89,600 M. & N.
100
500,000
Nassau*
LOO 2,000,000 1,243,090 J. A J.
New York
42.-00 J. A J.
N. Y. County 100
200,000
92,300 F. A A.
300,000
N. Y.N. Ex. 100
213,000 J. A J.
100
750,000
Ninth
N. America1' 70
700,000 24 5,300 J. A J.
63,300 J. A J.
240,000
North Kiv’r* 30
286.600 J. A J.
300,000
Oriental*... 25
224,700 Q —F.
50
422,700
Pacific *
100 2,000,000 1,187,200 J. A J.
Park
200,000
133,400 J. A J.
People’s*. .. 25
20 1,000,000
260,800 J. A J.
Phenix
94,600
Prod. Exch.* 100 1,000.000
561,600 F. A A.
Republic.... 100 1.500,000
500,000
212,500 J. A J.
8t. Nicholas* 100
102.000
100
Seaboard*
500,000
66.500 .T. A J.
Seventh W’d 100
300,000
37,000 J. A J.
100
300,000
Second
222,500 J. A J.
500,000
Shoe A L’tlir 10b
53.300 J. A J.
100
200,000
Sixth
350,600 M. A N.
800,000
State of N.Y* 100
100 1,000,00b
153,500 <T. A J.
Third
211,800 J. A J.
Tradesmen’s 40 1,00(1,000
50 1,200,000
659,900 M. A N.
Union
100
97,400
500,000
U. States
A J.
200,000
119,400
West Side*.. 100
..
*
....
8
8
8
6
6
7
6
7
8
8
8
6
6
7
6
7
6
Feb., ’85. 4
Jam, ’85. 4
Jam, ’85. 4
12
8
8
8
7
7
6
8
10
10
9
10
6
6
4
Jan.,’85.
Jan., ’85.
Jan., ’85. 312
Jan., ’85. 3
Jan., ’85. 312
Jam, ’85. 3
Jam,’85.
8
Nov.,’84.
10*2 Jan., ’85.
8
Jan,’85.
7
Feb., ’85.
7
Jan., ’85.
6
Jail., ’85.
8
Jam, ’85.
10
Jan.,’85.
10
Feb., ’85.
10
Jan.,’S5.
10
Jam,’85.
6
Jan., ’85.
8
7^2
6
8
3
3
4
5
4
50
Americani...
Amer. Exch. 100
25
Bowery
Broadway... 25
Brooklyn (f). 17
Citizens’
t 20
70
City
100
Clinton
Continental t 100
40
Eagle
Empire City. 100
30
Exchange...
Farragut.... 50
17
Firemen’s
German Am. 100
50
Germania..
50
Globe
25
Greenwich
Guardian.... 100
15
Hamilton
50
Hanover
100
Home
50
Howard
Jefferson. .t 30
20
Kings Co.(f)
Knick’bock’r 40
50
Lafayette (J)
Long Isl.(f) .t 50
Man. A Build. 100
Mech’nice’ (f> 50
50
Mercantile
50
Merchants’..
Montauk(J).. 50
Nassau(t).... 50
...
...
.
..
..
.
..
National....
Niagara
North River.
Pacific
Park
Peter
Cooper
People’s
Phenix({)....
Rutgers’
Standard
Star
..
'
7
7
10
10
8
8
8
7
7
10
...
(?)
.
Sterling
Stuyvesant..
312
Unit’d States
Westchester.
3
W’msbg C. (t)
3
35
00
L50
25
25
00
120
50
50
25
50
00
100
125
25
Jan. 1,
1885.*
Amount.
10
10
12
14
15
188,093 20
10
309,642 10
300,000
10
152,769 10
210,000
10
75|616 10
250,000
1,000,000 1,535,222 14*70 15*05
15
300,000 630,149 15
3
56,916 7 200,000
631,161 8*3
31.128 10
252,314 20
338,060 14
63,175 8*2
64,954 12
47,047 6
200,010
200,000
204,000
1,000,000 1,689,894 12
1,000,000 567,341 10
105,344 10
200,000
251,053 30
200,000
18,618 5*2
200,000
108,353 10
150,000
1,000,000 459,447 10
3,000,000 1,141,727 10
2,505 5
500,000
265,457 10
200,010
174,786 20
150,000
97,747 none.
210,000
32,531 10
150,000
73,505 10
300,000
107,078 7
200,000
25,882 10
250,000
15,396 7
200,000
106,729 5
200,000
200,000
200,000
200,000
210,000
200,000
500,000
350,000
200,000
54,470
1885, for National banks and March 21,
40,084 10
-
200,000
150,000
5
212
4
5
3
200,000
67,332 10
1,000,000
640.991 10
10
50
200,000
200,000
500,000
350,000
200,000
York
Jam, ’85
4
Jan.. ’85.
3
Jam, ’85.
Jam, ’85.
Nov.,’84.
Jam, *85.
Jan., *85.
Nov.,’84.
4
4
4
3^
3
5
Jan., ’85. 5
1885, for State
BONDS.
of the stocks and bonds of gas companies in
and Brooklyn, with details of iuterest, dividends, Ac.
Quotations for these will bo found iu the Commercial and
Financial
Dividends and interest.
Par.
Brooklyu Gas-Light
Citizens’ Gas-Light (Brooklyn)
Bonds
Consolid
i od Gas
Jersey Cit; .v Hoboken
Metropolitan Bonds.
Mutual (N. Y.)
Bonds
(Brooklyn)
Scrip..
People’s (Brooklyn)
Bonds, 7 per cent
Bon is, G per cent
Williamsburgh
Nassau
Bonds
Metropolitan (Brooklyn)
Municipal Bonds
Fulton Municipal
Bonds
Equitable
Bon is
*
This column shows last
of bonils.
Amount.
•%
Period.
2,000.000 Various
Rate.
Date.
*
5
3
Nov., 1884
Jam, 1885
20 1.200.000 Various
1,000 259,000 A. A O. 3VS. F., 1899
25
100 36000000
20
75s,000 J. A J.
700,000 F. A A.
1,000
100 3,500,000 Quar.
1,000 1.50. *,000 M. A N.
25 1,000,000 Various
Yar’s.
700,000 M. A N.
10 1,000,000 J. A J.
1,000
400,000 M. A N.
Var’s.
100,000 J. A J.
50 1,000,000 Quar.
1,000 1,000,000 A. A O.
100 1,000 000
1,000 750.000 M. A N.
100 3,000,000
300,000 J. A J.
100 2,000,000
1.000 1,"00,000 A. A 6.
.....
none. none. none.
none. none.
250,000
221.019 10
11
10
300,000
250,000
204,353 10
439,269 20
10
20
63,391
10
Over all liabilities, including re-insurance,
t Surplus includes scrip.
(f) Brooklyn.
*
CITY
4
10
10
10
20
7»2 j.m., 1885
3
1902
212 Apr., 1885
3
2
1902
Apr., 1885
212 Nov., 1884
li2 Mch., 1885
312 Nov., 1884
3
Apr., 1885
212 Apr., 1885
3
3
312
3
6
6
’85. 5
Jan.,
Jan.,
Jan.,
Feb.,
Jan.,
Jan.,
’85. 5
’85. 6
’85. 7
’85.
*85. 5
Feb., ’85. 5
Jan., ’85. 5
Jan., ’85.7*70
Apr.,’85. 7^2
Jali., ’85. 3
Feb., ’85. 3*2
Jan., ’85. 5
Jan., ’85. 4
Jam, ’85. 7
Jan., ’85. 5
Jan., ’85. 5
Apr., ’85. 5
Jan., ’85. 3
Jan., ’85. 5
Jan., ’85. 5
Jan., ’85. 5
July, ’83. 31*
Mar., ’85. 5
Jan., ’85.10
Jan., ’85. 3
Jan., ’85. 4
Jan., ’85. 5
Jan., '85. 2
Jan., ’85. 5
Jan., ’85. 3
Jan., ’85. 5
Jan., ’85. 5
Jan., ’85. 5
Jan., ’85. 4
Jam, ’85. 6
4
5
Apr.,’85. 3
Jan., ’85. 6
Jan., ’85. 5
Jan., ’85. 6
Jan., ’85. 5
Jan., ’85. 5
Feb., ’85. 5
Aug.,’84.
Jan., ’85.
Jan., ’85. 313
July,’81. 4
Aug.,’84. 2
Feb ’85. 5
Jan., ’85. 5
Jan., ’85. 5
Jan., ’85.10
,
-
HORSE RAILROAD
capital and scrip,
STOCKS AND BONDS.
Dividends and interest
Par.
Railroads.
Amount.
©
Period.
1900
Jan., 1895
1888
Apr., 1885
1900
1900
dividend on slocks, and date of maturity
cJ
Ph
Atlantic Avenue (Brooklyn)..
Bonds
Bleeeker St. A Fait. F.—Stock.
Broadway A 7th Ave.—Stock.
Broadway (Brooklyn)
1st mortgane
100
mortgage
1 500 000
100
350,000
1,000
250,000
100
1,000
100
1,000
1,000
loo
1,000
100
1,000
mortgage
Cent. Park N. A E. Kiv.—Stock
Consol, mortgage bonds
Christopher A 10th St.—Stock.
Brooklyn
I
2d mortgage
3d mortgage
Consolidated
D. D. E. B. A Battery—Stock..
1st mortgage, consol
Scrip
Eighth Avenue—Stock
ocri p
42d A Grand St. Ferry—Stock.
1st mortgage
Grand St. A Newtown (Bk’lyn)
1st mortgage
Houst. W. St. A Pav.
1st mortgage
F’y-Stk.
Second Avenue—Stock
1st mortgage
Consol
Sixth Avenue—Stock
1st mortgage
Third Avenue—Stock
Bonds
Twenty-Third Street—Stock...
mortgage
This column shows
of bonds
700.000 J. A
100] 2,100,000
100
1,000
100
1,000
100
1,000
1,000
1,000
100
500 Ac
Date.
*
2
Jan., 1885
5-7 1885 A ’94
900,000 J. A J.
non
1
1,000
...
Bushwick Av. (Brooklyn)—Stk
1st mortgage
Central Crosstown—Stock
1st
500.000
100
Brooklyn Crosstown—Stock...
1 st mortgage bonds
Scrip
*
$700,000
1 000
Brooklyn City—Stock
1 st mortgage
Brooklyn City A Newtown
Bonds
Coney Island A
50
1,060
1,000
1st mortgage
1st
week.
Gas Companies.
14
7
Jan .,’84 10
GAS COMPANIES’ STOCKS AND
Chronicle each
143,545
121,497
6,393
8,853
12
14
15
10
10
10
15*40
15
6
7
7
10
12
8
5
14
13
10
10
10
10
30
30
3
none.
10
10
10
10
10
10
none.
3
10
10
20
20
6
6
10
10
10
10
6
6
10
10
3
3
5
none.
10
10
10
10
9
10
12
11
8
4
10
12
8
8
14
14
10
10
12
12
10
10
ilO
10
11
10
7
7
Feb., '85. 3
The following is a list
New
331,448 14
87,087 8
339,627 16
63,490 12
203,968 16
10
10
Last Paid.
4
1 st
LOCAL
10
196,821 14
56,102 10
346,053 8*3
2d mortgage
t March 10,
banks.
1882. 1883. 1884.
$
$
400,000
200,000
300,000
200,000
153,000
37*2
N.Y. Eq’table
N.Y. Fire....
..
20
8
8
8
.
....
Dividends.
Surplus,
Companies.
at latest
dates.t
10
9
Jan., ’85. 5
A J.
7
7
Nov.,’84. 312
5,000,000 1,434,300 M. A N.
10
Jan ,’85. 5
261,200 J. A J, 10
250,000
Bowery....
20
Jan., ’85.10
1,000,000 1,422,>-00 J. A J. 20
Broadway..
8
8
Jan., ’85. 4
286,000 J. A J.
300,000
Butch’s’ADr
8
8
Jam,’85. 3
353,300 J. A J.
2,000,000
Central
4
8
July. ’84. 4
135, *00 J. A J.
300,000
Chase
10
10
Jan., ’85. 5
304,500 J. A J.
450,000
Chatham....
100
Mch.,’85.15
300,000 4,145,000 Bi-m’ly. 100
Chemical...
7
7
Jan.,’85. 312
245,000 J. A J.
600,000
Citizens’....
15
Nov.,’84. 5
18 ^
M. A N.
1,826,600
1,000,000
City
100.000
2,70o
Columbia*..
8
8
Jan., ’85. 4
Commerce.. 100 5,000,000 3,057,500 J. A J.
8*2 Jau., ’85. 412
233,900 J. A J.
Continental. 100 1,000,000
10
10
Feb.,’85. 5
Corn Exch ". 100 1,000,000 1,024,400 F. A A.
8
Jan.,
’85. 4
J.
A
J.
7*2
124.300
25
East Kiver
250,000
8
8
Jan.,
’85. 4
A
J.
J.
25
56,700
11th Ward*.
100,000
3
6
6
Jan.,’85.
A
J.
J.
114,800
100
Fifth
150,000
473,100
100,000
Fifth Ave*.. 100
40
40
Apr.,’85.10
100
First
500,000 3,764,000 0,-J.
8
Jan .,’85.2*49
8
100 3,200,000 1,162,600 J. A J.
Fourth
7
7
lNov.,’84. 3i2
30
292,900 M. A N.
Fulton
600,000
10
10
Apr.,’85. 5
50 1,000,000 1,003,600 A. A O.
Gallatin
57,600 J. A J.
50
Garfield
200,000
6
Feb., ’85. 3
6
165,400 F. A A.
750,000
Germ’nAm.* 75
10
10
Mav, ’84.10
224,600 May.
Germ’n Ex.* 100
200,000
8
8
Nov.,’84. 4
246,300 M. & N.
200,000
Germania*.. 100
6
6
Nov.,’84. 3
43,300 M. A N.
200,000
Greenwich*. 25
7
7
Jan.,’85. 312
577,500 J. A J.
Hanover.... 100 1,000,000
7,900
Home*
125,000
14
Jan., ’85. 7
Imp.& Trad. 100 1,500,000 2,738,900 J. A J. 14
10
8
Jan.,’85. 5
50
166,400 J. A J.
500,000
Irving
10
Jan., ’85. 5
446,500 J. A J. 10
600,000
Leather Mfr. 100
35,700
100
300,000
Lincoln
America*..
Am. Exch.
LIST.
STOCK
INSURANCE
LIST.
[Vol. xl.
J.
Q.-J.
A D
J
34 Jan., 1885
July, 1900
2
Apr., 1885
7
5
June,1904
3*2 Feb., 1885
1989
7
6
1889
3^ Feb., 1885
100 000
2,009,000 Q.-F.
Jan., 1902
800,000 J. A J. 5
1*3
1,060,000
7
1890
400,000
Apr., 1885
200,000 A. A 6. 4
400,000 J.
A
J.
7
7
260,000
500,000 Q.-F. 2
406,000 J. A J. 6
600,000
1888
Jan.AJuly
Feb., 1885
1902
1*2 Apr., 1885
M. A N. 6
Nov., 1922
Q.-J. 2 Apr., 1885
Dec. 1902
J. A D. 7
Q.-F. 1*2 Feb., 1885
1898
A. A 0. 7
3
Aug., 1884
1985
J. A J. 7
Q.-J.
250,000
1,800.000
1,200,000
650,000
250,000
500,000
100,000
75,000 J. A J. 7
125,000 J. A J. 5
1,200,000 Q.-F. 4
900,000 J. A D. 7
100 1,200,000 F. A A.
100 1,000,000 Q.-J.
100 1,000,000 F. A A.
100
748,000 Q.-J.
236,006 A. A O.
1,000
100
170,000
175,000 F. A A.
1,000
100
250,000 Q.-F.
500
500,000 J. A J.
100 1,862,000 J. A J.
550,000 M. A N.
1,000
1,000 1,050,000 M. A N.
100 1,500,000 M. A S.
500,000 J. A J.
1,000
100 2,000,000 Q.-F.
1,000 2,000,000 J. A J.
100
600,000 F. A A.
1,000 250,000 M. A N.
last dividend on stocks,
6
1887
1903
Jam, 1885
June, 1893
Feb., 1914
2*2 Apr.,
6
4
7
1885
1914
Apr., 1885
Apr., 1893
2*2 Jan., 1885
1896
7
2
Feb., 1885
7
July, 1894
5
Jan., 1885
5
7
5
7
6
7
4
Nov., 1909
Jan.,
Feb.,
1888
1884
1890
1885
1890
1885
7
May.
1893
Nov.,
Nov.,
July,
Feb.,
and date of maturity
EARNINGS
MONTHLY
Feb.
Jan.
4313288 11184.;
Alabama
58,509
60,575
84,505
88,313
1882
1883
1884
1885
104,791
'
Atchison Topeka <& Santa Fe—
.(1,540 to 1,789 m.)..
1881
$
02,499
68,885
89,015
90,157
98,450
97,303
$
58,259
*
52,304
f
51,731
57,005
54,853
78,359
88,514
54,490
72,225
73,414
84,500
•
167,750
252,823
197,402
•
•
72,345
73,459
92,043
86,007
213.809
223,719
1,000,633
1,117,003
1,325 710
1,301,039
1,000,040
1,251,003
1.452.90 5
1,391,319
148,551
224,107
252,913
217,349
272,309
184,680
178,304
218,252
217,570
105,030
199,278
208,672
221,573
205,912
211,257
210,616
200,418!
174,351
198,270
195.989
209,112
224,920
232.522
195,970
216,590
90,353
79,956
80,667
115,826
115,182
128,197
82,044
100,805
122,907
84,417
110,394
100,029 !
93,535
117,840
101,943
.
93,031
77,309
110,918
98,190
85,034
85,045
80.875
88,674
112,503
109,734
90 386
95,269
...
1,349,312
221.801
201,439
221,748
300,155
260.357
201,10 >
307,040
232,812
240.002
201,207
231,413
202,180
278,429
308,200
274,1 (2
112,824
115,651
148,989
108,404
130,841
106,353
143,244
102,229
118,237
154,033
120,302
110,249
1,536,274
1,461,922
•
072,380
749,915
801,187
749,220!
753,857
692,712
558,190
504,800
600,878
007,281
548,550
559,577
046,730
052,601
035,800
617,251
607,508
.....
,
990,848
(3,775 to
(4,104 to
(4,520 to
(4,700 to
3,951 ra.).
4,520 in.).,
4,700 m.).,
4,804 m.).
(4,894 in.).
1884*
1885*
331.746
348.137
•
1,240,007
1,044,930
1.357,622
1,502,418
1,498,100
,
774.700
769,751
850,398
830.550
912,092
934,945
859,904
010,904
_
308,912
3,334,978
3,900.793
3,538,005
144,879
132,001
144,143
120,127
125,139
2,202,931 2,031.001
2,180,400 2.270,444
2,909,105 2.742,480
2,707,110 2,083,597
150,915
172,215
158,226
153,874
150,497
170,380
158,001
150,514
151,763
120,693
128,392
47.090
51.530
65.584
640,812
701,000
529,319
713,103
702,027
7,557,741
8,215.495
t
156,857
170,305
145,021
156,577
916,989 1,259,946 1,538,491 1,729,812 1,508.706 1,078,301 1,044,070; 1,591,053
1.816,133
2,199,421
2,502,773
2,233,891
1.905,490 2
2,027.000 2
2,170,918 2
1,640.451
137,473;
153,113
101,704:
140,458! 1,785,183
149,908
135.400
140.040! 1.050,250
132,899 1,553,210
1,569,598
1,854,209 17,025,401
2,072,973' 1.934,709 20.380,725
2,387,062 : 2,150,913 23,059,822
2,308,877
2,218,998 23,470,998
185,720
182,809
201,047
307,470
510,128
403,702
487,291
390,401
(87 to 138 m.).
.
(143 m.).
(143 m.).
Flint & Pere Marquette1881
(318 m.).
1882
(318 to 347 m.).
1883*
(347 to301 in.).
1884
(301 m.).
1885*
(361 m.).
Green Bay Winona &: St. Paul(219 to 225 m.).
(225 m.).
(225 m.).
1885*
(225 m.).
Golf Colorado & Santa Fc—
1882
(373 to 482 m.
1883
(482 to 534 m
{:■
(534 m.).
m.).
Ill. Cent.—Ill. Lane & So. Div.—
...(1,490 m.).
(1,390 m.).
(1,498 to 1,520 m.).
1884...
(1,520to 1,600 m.).
(1,000 m.).
Leased Lines in Iowa(402 m.).
(402 m.).
(402 m.).
(402 m.).
1885
(402 m.).
Indiana Bloom. & Western(544 m.).
(544 to 084 m,).
1883*
(884 m.).
1884*
(684 and 532 m.).
1885*
and
(684
532 m.).
Louisville & Nashville(1,840 to 2,074 m.).
1882 b
(2,028 m.).
(2,028 to 2,005 m.).
(2,005 nc.).
(2,005 m.).
100,134
230,550
190,098
222,202
317,683*
395,2931
457,5:35 j
301.780,
396,520
32.072!
20,018
20,484
25,211
21,573
254,002
323,241
317,98s
e
227 475
32.825
East Tcnn. Va.& Ga,-
199,507
188,798
154,127
27,215!
27,725
234,704*
312,522
320,392
398,493
516.3L0
548,580
453,005
511,913 i
2,415.372
2,576,103
2,482,824
2,434,780
228,334
241,133
231,008
243,241,
239,787!
23;,598
240,384
200,333
237,503
242,827
234,425
225,268
208,814
234,087
230,169
2,507,135
220,300
548,284
006.193
020.643:
605,0>7
545,444 523,105
709,825
078,781
583,797 *401,400
578,443
699,003
599,1911
042,213
7 20,445
500.829
495,709
0,244,180
0,404,980
7.301,546
5,918,009
347,108
341,935
205,540
199,929
192,438
190.123
205,195
209,515
180,112
173,110
211,495
208,210
208,208
219,147
188,835
208,826
203,490
433.111
514.767!
593,922
581,229
508,751!
228,358
24,790,
21,380
23,50
20,044;
24,917
22,669
25.227
23,680
248,470
339.151
331,109
220,380
272,322
291,519
240,670!
295,401'
210,995
304,89?f
307.S10,
243,525
2*3,157,
162,520;
10O.O5S
137,514
148,503
184,427
25.580!
23,720!
237.490
223,108
23,183
2-8,060
373,370
370,897
422,718
495,020
409,130
444,333
25.61
35,375
28,920.
*523,749
522.200
523.492
379,029
548,*52
073, SS0
527,884
006,00 *:
*522,010 *526.371
*496,443!
081,385
448,810
557,939
*413,024
31,293
31,595
32,002
28,410
40,102
37,57!
34,117
41,882
34,859
33,734
31,716
29,435
341,342
374,945
376,803
28,242
30,795
34,452
615,8581
2,590,195
2,502,191
354,033
32,8 L7
158,161
171,400
196,814
164,954
189,589
233,300
218,759
157,940
188.509
237.517
216,748
39,104
31,292
36,0.32
175,113'
*
129,765
25,501
23,820
30,109
21,400
20,582
22,198
24,449
19,071
35,660
31,578
30,228
28,780 '
91,012
81.00
148,400
121,676
95,445
60,000
132,203
129,775
850,135
857,893 850.937
831,392 827,920:
800,969
847,439
931,933;
979,71‘
820,572 813,099 844,009
915,957 *840,900 *900,900
781,589
747,389
158,759
140,080
156,907
150,005
80,819'
107,825'
107,554
121,942
131,512
120,824
131,042
204,934
1 42,159
185,650
201,883
248,142
198,685
198,030
105,326 192,085
189,652 204,423
202,931 268,801
212,831 / 193,222,
190,713 / 227,038
160,2401
311,784
278,037
200.322!
229,004
220,797-* 178,810 * 171,148
144,349
119,827
158,483
215,809
190,564
177,395
203,093
197,822
119,681
163,883
138,414
92,332
211,014
223,303
211,204
190,313
193,372
177,161
217,198
237,284
190.215
131,503
150,180
124,959
89,102
221,320
249,443
249,507
2*1,145
180,735' 212,299
194,474
103,141
311,894
101,125
173,034
246,517
244,117
228,053
205,0 44 i
240,880
250,988;
184,923
287,326
167,548
190,179
180,792
042,400
4,021,901
4,902,200
5,515,285
5,782,436
400,700
020,018
2.109,432
432,615!
304,946
442,987!
441,094
400,514
550,280
590,531
549,885
1.855,470 21,849,207
1,820,929 23,977,008
2,368,5421 1,700,556 25,024,062
1,990,509 1,951,740,23,491,898
2,019,037
392,921
515,008
583,185
540,959
383,202
359,459
192,104
141,250
122,080 201.150
172,544 *224,440,
2,315,104 2,292,670 2,341,097
2,211,022 2,553,041 2.601,445
2,403,459 2,047,908 2,7x3,091
2,027,982 2,340,914 2,523,843
404,502
374,094
442,873
201,723
220,484
19 ),923
(902 m.7.
(902 to 1,123 m.).
(1,123m.).
(1,123 m.)
1,178.790 1,474,012 1,879,000 2,300,440; 1,983,031
1,072,931 1,003,741 2,110,947! 2,043.510; 2,059,952
2.095,292 1,754,379 2.157,200 2,213,021 2,100,031
1,706,940 1,822,105 2,070.829.1 903,275 1,970,177
1,342,300 i ,938,500
933,205
1,474,170
1,311,395
1,504.100
165,552
(1,079 to 1,317 m.)..
18850*
(1.3L7 hi.).,
Des Moines & Fort Dodge-
(b34
117,290
140,7791
128,379
115,246:
134,070
123,881
123,709
110,248
188,072
182,458
218,599
191,782
170,318
203,444
1884(7
,
670,205
702, t 35
731,503
730,944
1,079,450 2.083,802 1,888,358 2,173,945
1,505,201 1,437,104 1,025,000 2,080,858
2,009,872 1,937,910 l,s24,705 2,495.124
1,981,127 2,077,182 1,735,199 2,447,495
350,125 :
402,882
449,584
513,349
Denver Se llio Grande(551 to 1,002 m.).,
(1,000 to 1,100 m.).,
(1,315 to 1,679 m.).
1884
1,574,371
1,530,838
1,824,130
1,832,451
201,211
377,288
429,339
507,998
,
1882
808,070
83,172
.
15-8,595 251,649
257.785
413,230
327,478 333,439
438,521
308.405 283,601
331,453
463,952
350,283
*334,700 *300,200 *451,000
(330 m.).
(330 m.)..
(3-10 m.)..
(330 m.)
1884
1.808.458
1,667,502
1,518,000 1,346,000 2,082,000
Cincinnati N. O. & Texas Pac.—
(138 to 143 m.)
082,718
47,540
56,403
1,434,537 1,370.377 1,501,386 1,517,509 1,627.933 1,0! 9,431 1,464,927 1,545,198 1,950,710:2,250.975
1,359.199 1,257,046,2,043.730 1,972,271 2,033,514,2,023.181 l,829,2s5 1,851,209 2,220.684:2,531,128
1,407,097 1,317,004 1,788,720 1,948,636 1,985,708 1,919,902 1,949,545 1,825,348 2,201,241 2,539,790
Chicago & Northwesterni2,778to 3.018 m.).
(3,100 to 3,476 m.).
1883
(3,580 to 3,701 m.).
1884
f 3,701 to 3.843 m.>.
1885*
(3,843 m.).
Chic. St. Paul Minn. & Omaha—
1881
(940 to 985 m.).
1882.
(1,003 to 1,147 m.).
1883
(1,150 to 1,280 m.).
(1,307 m.).
(1,318 m.).
Cin. Ind. St. Louis & Chicago(300 to 342 m.).
1882
(342 m.)
(342 m.)..
(342 m.)..
1885
(342 m.).
1882
253,350
306,385
771,844
858.074
901,019
889.037
474,318 529,915
517,897 588,700
680,094
557,384
000,042! 573,284 097.919
(849 m.)..
‘080,005
046,837 *535,395
1
Chicago Burlington & Quincy—
(2,772 to 2.924 m.). 1,301,948 1,034,821 1,418.149
1881
(2,924 to 3,229 m.).. 1,058,834 1,457,301 1,566,217
1882
1883
(3,229 to 3,322 m.).. 1,025,680 1,011,021 2,390,584
(3,322 to3,467 in.). 1,648,2 20, 1.971,013'2,100,028
1885
(3,467 nw. 1,992,484! 1,601,915
Chicago & Eastern Illinois—
121,037
117,119
125.456
1881
(220 to 230 m.).
130,421
1882.
145.404 127,212
(230 to 240 m.).,
139.583
112,209
138,804
1883
....(‘240 to 251 m.)
111.048
107,407
125,424
1884*
(251 in.).
1885
127,034 *107,025 *147,065:
(251 m.).
!
Chicago Milwaukee & St. Paul.-
1,307,103
1,422,703
•
499,120
585,830 I
046,380
(840 to 840 m.)..
300.732
345,306
270,079
71,223
58,050
...
2,225,179
2,020,349
68,574
57,040
(189 m.)..
a39 m.)..
2,297,971
2,139,259
2,104.639
1,832,411
01,188
58,051
2,085,033
1,105,159
,
53,289
70,095
37.402
50,022
1883
,
57,352
70.V-34
76,252
38,951
50,629
20,751
55,498
45.949
48,082
»
54,264
75,831
36,240
28,710
47,893
47,388
55,641
2.424,529
2,496,091
.
(139 m.)
-
51,*60
03,433
74,858
31,410
53,045
57,519
218,094
-
.
351,310
375,815
270,181
257,262
292,910
119,822
332,219
385,474
303,103
287,49?
(502 m.)..
97,550
120,333
381,454
303,211
Elizabeth. Lex & Big Sandy—
..
91,587
100,972
90,322
310.787
335,20s
320,938
313,542
253,440
260,072
2,259,038
2,800,080
2,840,771
2,790,459
•
271,382
323,845
251,970
2-0,021
283,451
2,507,857
257,040
331,173
1881
1882
1883
1884
1985
1,458,752
1.458,040 14,773,304
1.312,739 15,909,440
1.235,082 l0,291,883
1,303,385
1.329,113 1,430,220
1.302.983 1,549,834
1,513,040 1,742,06J
2,185,303
.2,495,445
2,426.348
2.194,993
298,030
Chicago & Alton
108,995
789,372
850,724
1,071,829
147,373
2,088.519
2.350.557
2,267,543
2,113,339
337,795
1884
1885
t
94,779
2,091,411 2,159,311 8,899,346
2,342,298 2.229,105 2,070,048
2.127,420 2,129.220 2,030,216
2,141,583 1,943,218 1,832,244
.
1882
$
80.897
1,155.809 1,203,023
..
•
...
1
$
78,257
98,097 !
108,838
122,944 !
*
$
70,320
77,793
.
124,509
225,030
187,001
201,904
202,537
(2,580 to 2,775 m.).. 1,602,907 1,454,218 1,709,637 11,872,370
1881
(2,882 to 3,107 m.). 1,839,409 i 1,720.075,1,909,737 2,054,687
1882
1883
(3.199 to 2,941 to 3.003 m.).. 1.747,681 1,465,952 2,024.533 2,050,313
1884
(3,003 to 2,802 m.) - 1,449,785'1,402,571 1,472,084 2,030,079
1,570,750 1,397,00J 1,540,000
1885$
Chesapeake & Ohio—
215.445
267,454
208.740
179,053
(430 to 502 m.)..
1882
81
73,794
■
Central Pacific—
1884 *
1885*
$
08,187
61,041
Total.
Dec.
-
1882*
1883*
1884*
1835*
-
57,982
Nov.
Oct.
Sept.
-
Central Iowa—
..
Aug.
*
79.893
902,303 94S.419 1,046.125 1,197,550
.(1,789 to 1,820 m.).. 1,076,790! 1,055,909 1,203.073 1,104,335 1,183,701 1,153,479
(2,219 m.).. 1,005,794 1,083.534 1,415,514 1,278,154 1,314,913 1,201,085
(2,259 to 2,340 in.). 1,172,348 1,167,020 1,404,056 1,306,000 1,343,362 1,254,029
1,115,698 1,004,748
1883
1884
1885
July.
Jane.
May.
558,481
743,268
1882
18S3 (d)
1884 (d)
1885(d)
Burlington Cedar Rap. & No.—
1881
1882
1883
1884
(988 m.)..
1885
432348881113.
03,546
66,732
82,451
89,276
*
1
Great Southern—
1881
RAILROADS.
PRINCIPAL
OF
March. April.
95
EAENING^.
EAILKOAD
April, 1885 ]
30,289
30,365
35,089;
34,172
20,792
25,479
380,216
455,503
412,289
300,7:30
409,605
380,180
152,951
153,482)
160,380;
172,069
203,442
234,617
*157,280
100,157
203,805
174.627
304,43-11
*
187,440! 199,0071
204.803
257,770!
112,558: *186,944
30,697
34,881
39,001
31,025
20,329
33,026
25,112
46,112
29,123
44,323
47,831
20,547
3.351,357
4,144,275
3,993,022
110,815 cl,885,4l4
200,170 c2.105.219
199,005 c2,542,943
*171.703 c2,240,706
37,978
30,127
20,705
393,307
410,621
324,125
1,019,810
2,184,203
1,751,088
22,408
70,039'
89,555
141,192 182,900
190,909 * 228,292
141,235
187,745
235,908
228,797
144,007
127,784
107,992
103,452
120,814
217,023
151,730!
203,430
207,843
230,925
*195,623
158,952
144,588
930,165 988,912
938,385
922,833
920,022 1,045,902
837,443 916,065
1,059,401
1,100,852
1,183,408
1,078,544
1,037,89 $
1,101,929
182,438
109,048
204,003
164,678
170,333
180,389
1,852,43®
150.880
1,945,532
210,842
184,867
201,930
152,109
158,754
150,541
2,025,109
1,712,889
228,6771
200,451
204,785
235,072
218,000
192,022
2,487,509
208,577; 2,740,227
202,8121 2,927,533
141,303
807,075
727,059
748,805
837,981
772,192
704,233
174,600
148,180
171,085
140,052
100,305
154.678
130,703
145,993
143,055
153,550
134,332
130,040
127,718
203,077
200,004
220,010
215,913
195,751
180,477
234,151
194,992
199,840
192,317
217,574
197,013
199,125
215,977
782,830
320,358!
300,311
25,097
705,294
748,004
748,803
788,809
099,370
*
289,287
302,504
312.723
708,302
762,403
190,372
100,531
160,472
129,480
193,110
201,900
100,620
1,119,010
1,090,074
1,030,872 10,775,140
1,174,809 10,800,705
1,021,574:11,039,033
1,059,505 10,47 i, 442
103,003 *100,800 *145,217!
217.018
191,080
272,114
202,177
319,713
200,890
247,932
288,253 ;
292,905 !
281,140
270,941
281,643, 200,114
947,960
850,802 828,726 1,227,885 817,135 870,192 051,500 1,002,050
805,124
900.315 1,008,834
953,603 958,130 1,215,490 1,003,765 1,043,912 1,114,513 1,215,932
901,527
1,118,735 1,014,807 1,141.337 947,450 1,062,348 1,090,700 1,124,770 1,251,127 1,334,17011,504,465
1,039,317 1,015,431 1,187,738 1,125,29111,150,109 1,032,359 1,000,104 1,11 7,313 1,145,306 1,291,714
!
I
1,170.749 1,083,308 1,200,095,
816,960
1,005,22b
1,200,902
1,307,394
1,199,590
194,918
1.153,779 11344,302
1,221,509; 12,961,432
1,272,924 14,170,248
1,292,127! 13,002,405
mlscellan’s
distributed
1885.
Approximate figures. * February and March figures approximate, 5 June, 1882, figures (as well as those for June In preceding years) Include
rec’pts for thelwholeof the fiscal year ended with that month. Since that time these receipts have been added to each
earning*, and thus
evenly through the year, c Embracing corrections found necessary after monthly totals had been published, d Includes So. Kansas road In 1883, 1884 and
e Not including the first six davs of January, preced ng time when Receiver took possession.
/ Not including Ind. Dec. & Spriugf. <j Not Including Utah
after July 1 1884
*
month’s
lines
84288888111
3
542518888111
Memphis & Charleston—
3125432888 11182.
1882
1883
*
07,010
103,000
111,010
112,881
30,078
00,371
01,028
73,214
31,392
101,115
& West.—
(250 to 270 m.)..
(270 to 326 m.)..
....(320 to 374 m.)..
(385 m.)..
(480 m.)..
1885*
Minneapolis & St. Louis-
24531432888 11184.
March. April.
$
05.437
03,435
78,308
72,750
72,005
$
65,741
78,534
100,592
74,007
80,388
103,652
110,105
117,720
00 r-s rS
88,059
105,471
Oct.
Sept.
1
t
84,474
101,382
80,565
101,993
114,003
110,384
120,763
189,183
120,245
100,151
100.501
144,018
(421 m.)..
130,070
127,438
(500 m.)..
(528 m.)..
(528 m.)..
(528 m.)..
(528 m.)..
224,340
210,707
(421 m.)..
150,076
1881
1882
1883
1884
1885
04,055
04,140
70,005
68,505
104,017
153,033
149,059
1913+4
225,357
(322 m.)..
(323 m.)..
(323 m.)..
401,210
Northern Pacific—
110.506
1881.....
245.300
358,085
014,103
553,582
3.180,215
3,373.321
3,020,357
3.574,233
3,277,522
338,412
126,289
168,573
173,710
151,570
167,745
168,522
142,322
145,918
171,746
160,163
171,044
210,202
157,875
185,902
250,924
207,433
250,271
202,980
301,054
280,002
258,812
300,482
289,246
160,689
212,459
253,332
284,637
90,031
128,875
119,527
110,071
155,483
122,893
185,548
160,789
137,475
150,584
143,600
150.075
103,550
141,957
145,803
134,378
141,976
142,774
130.517
130,184
123.727
140,030
120.108
167,790
1.431,881
635368 #
900,819
1.058,084 Yf
123,291
158,009
135,174
134,404
129,323
%•
1,543,428
1,022,875 %
1.835.U0 m
2,403,220:-
2:184,®;%
2,206.84*
2,160,412
•
195,655
167,393
161,435
188,107
1,670,743
1,548,474
203,737
; 190,001
1.794,082 1,787,081 1.772,895 1,734,200 1,814,860
1,756,084 1,850,200 1,843,144 1,880,214 1,919,010
2,057,547 2,111,450 2,580,950 2.613,134 2,411,140
1,715,409
1,818.824
2.180,982
1,509,568 1,784,639 1,861,214 2,104,375 1,807,857
1,703,338
299,573
383,347
359,571
281,638
261,200
304,592
365,877
300,992
240,704
277,001
310,092
254,420
65,801.
90,085
71,373
94,042
71,822
95,417
99,059
97,275
240,530
272.318
205,099
224,758
232,752
2,207388
2,429,788
2,812,775
v-
"
300,000
240,820
298,441
320,151
273,702
283,531
270,217
300,794
52,152
78,511
82,278
57,835
01,673
68,022
89,189
07,017
103,037
105,828
174,438
171,793
100,990
211,522
149,603
150.880
185,322
205,063
202,436
174,843
203,610
183,809
71,704
231,518
285,302
280,722
303,035
87,054
88.152
80,781
82,970
190.196
70,739
2,358,082^3
lllfe
1,571,208 20.393,
1,091,404 20.203,400
1,823,568 23,888,706
Si-
1,570,385 20,363,380 2S:
,7+5+
9,809,04rM
240,004
251,132
%+
3,398,544
3,027357^
215,422
3,246,97*|i
239,050
67,522
723,437
73,831
87,080 1,034,210
1,003.661:0j
80,782
JgT
261,711
331,210
228,995
201,235
271,279
185,824
228,408
270,010
288,495
244,81*'
247,055
2,711,104
487,287
465,810
470,164
440.811
498,008
025,970
429,50®
557,558
487,100
416,635
477,510
545,727
476,811
476,023
490,003
409,152
5,800,175
587,272
510,427
449,004
527,714
590,748
519,795
474,805
393,252 434,085; 506,032 570,724
412.024
162,984
210,210 312,705
7S.803
727,215 772,838 824,709
604,007
704.617
373.141
451,023 010.231
268,035
1,397,222
563,003
660.412 789,940 820,657 850,223 1,043,624 1,194.714
328,158
1,401,511
520,085 978,050 1,441,514! 1,267,805 1,143,123 1,022,438 1,032,602 1,230,500
569,904 *680,427
1
475,011
751.633
1,270.022
391,280
655,058
1,110,379
758,229 12,013,805
58,862
53,474
60,227
60,820
60.009
452,000
414,789
500,80c
487,273
485.586
420,400
462,504
454,749
405,094
400,133
477,846
470,335
190,122
484,534
474.524
520,685
530,094
5,443,688
'Hf
iMI
0,088,181
442,209 5,521,878
4.070394-W
^
6,984:807
850,184 10,149,050
•
Hi„
••••*.
*
57,903
45,507
64,304
50,592
55,000
68,050
50,187
07,084'
60.05058,799
55,850
58,417
53,000
48,474
73,741
45,820
75,723
05,524
70,481
72,575
50,020
51,002
79,835'
71,403
!
I
286,022
329.248
339,467
352,414.
333,755
350.129
300,890
01,175
70,618
05,370
80,404
73,408
04,109
62,031
81,093
70,508
77,272
71,077
56,046
95,591
71,92b
70,311
300,5021
1.707.905 1.835,725 2,000,986 1,945,874 1.989,948
1.714,730*2.020.459 1,975,993 2,019,017 2,229 513
2,810,489 2,979,094 3,538,033 3,333,217 3,531,430
'2,14",704 2,767,792 3,290,015 2,870,451 2,940,541
260,130
207,400
317,181
720,888
761,157 +++.
,.
c
2,015,589
1,850.889 20,770,101 Hi
2,250,749
1,795,371
2,297,643
3,950,937 3,769,328 48,500,911-7
3.* 54,910
90,753
85,773
113,8r 0
80,247
68,148
71,411
04,270
99,125
45,109
49,205
37,870
63,173
04,840
51,130
21,834,808^
30,300,199 £+1
2,554,133 2,315,503
98.205
48,296
58,780
48,070
;#-]
3,840,510
80,851
77,913
40,788
40,785
40,879
272,282
w
51,083344#
4,473,479
88,52»
82,021
250,923
421,760
429,834
429,179
36,217
52.954
44,094
54,810
38,299
302,922
863,704
3,003,432 +
3,845,159
3,873,724 |
!j
758J6WW
83,096
828,90®
776,748
109,112
70,158
89,548
97,537
05,570
82,590
799,166
737396 J688,901 m
115,824
1,497,176 M
1,086,198 :&v
115,614
1,590,000-^
250,791 £
382,037 ;>
440,128 #)
*
75,578
73,182]
88,021
59,768
60,062
112,499
109.590
100,004
97.005
121,135
42,158
38,981
43,092j
45,728:
37,306
33.240
31,755
28,148
30,031
1
35,012
35.023
30,880
'
102,500
185,205
170,203
107,017
170,167
167,590
27,172
40,241
45,698
26.897
44.006
23,337
36,132
35,719 i
30,734
44,957
48,794
41,513
40,218
20,944
33,784
37,240
|
125,592
129.984
104.302
141,793
110,429
131,697
102,993
141,408
134,479
105,506
155,334
131,522
124,021
130,249
98,708
i,424,80S m
1,456,081;
1,484.069
83,072 cl,283,701
00.&84
83.7)15
72,041
91,350
82,040
64,289
72,817
74,901
60,689
74,192
75,355
74,108
60,091
122,000
140,777
131,300
16.814
23,201
20,184
30,553
20,028
121,990
99,083
90,953
92,227
118,844
130,986 !
101,758
83,475
18,548
26,107!
10,104
21,706
35,083
81.054
3)3,833
33,016
33,580'
.(105 m.).
(105 m.j.
(105 m.).
(105 m.)., j
(105 m.). j
104,577
107,227'
101,826
133,337:
132,003
128,760
132,157
132,572
101,747
133,003
110,007
95,042;
93,400
125.129
110,534
I
71,148;
00,950
04,180
56,092
63,500
00,678
1
I
97,965;
102,276’
68,565
64,110*
75.802
07,430
58,970
73,904
80,951
74,227
00,300
178.590
240,130
220,411
320,874
269,903
271,323
353,884
415,179
209,507
2)34,496
302,003
305,7141
71,434
262,217
303,489
159,482
320,962 ,
425,685
418,358
380,012
407,128
729,818
700,100
812,017
804,000
392.248
575,377
531,0041 570,890
i$£\
143,491
175,860
149,890
130,020
131,313
128,433
27.557
98,019
130,826
147,040
122,715
110,835
125,825
130,811:
20.000
29,212
34,911
!
71,692
65,525
(138m.). !
57,119
(1.38 m.).
J
i
0C. Louis & San Francisco(507 to 001 in.). j 208,547:
(061 m.). ! 254,010
280,900,
(725 to 742 m.).
1884*
(770 in.). , 319,9271
I
315,933
1885*
(815 m.)..
I
St. Paul Minn. & Manitoba.—
254,187'
(855 m.).
305,401
(012 to 1,020 m.).
489,703'
(1,250 to 1,324 in.).
449,306
(1,327 to 1,387 in.).
400,125
(1,307 m.).
Union Pacific(a 2,854 to 3.8(H) in.).
(a 3,800 to 3,042 m.).
(a 3.042 to 4,250 m.).
(a 4,250 to 4,470 m.). 1,538,908
(a 4,470 m.). 1,674,949
Wabash St. Louis & Pacific805,330
1881
(2,470 to 3,350 m.)..
1889
(3,348 to 8,518 m). 1.229,005
1,307,783
1888
(3,518 m.)
(3,047 m.).. 1,251,063
(8,540 m.) . 1,300.504
c
.
48,203'
123.580
119.303
114,443
708,884
c
3,840,215 3,731,751 44,124,178
4,373,825 4,157,109 49,079,826
322,448
334,040
360,710
340.581
362,292
337,387
214 380
08,230!
91,156
113,623
102,153
58,983
371,270
296,717
317,594
293,147
229,982
25-1,001
251,810
69,1061
84.043:
70,021
104,368
107,115
13,048
49,102
01,958
50,001
m
3,807,437 3.780,418 3,809,97S 3,735,006 3.072.971
3.005. 614 3,844,304 3,760,372', 3,85
4,140,150 4,071,179 4.417,602 4,600,054
3.300, 75013,912,293 3,855.850 4,108,877 14,003,750
'
4,150.871 1.1H0.950 4.775,380 4,634.998 4,875,348
3.7 12, 215| 4,189,380’ 1,061,750; 4,30
3,900,174 3,980,085 4,017,894 4,458,871 4,447,547
3,426, ,733 4,002,027! 4,150,300! 4,20
!
3,075, 700 i
13,042
'
190,088
221.438
232,774
287,201
72,343
:
J
197,799
186,495
195,408
187,475
280,524
346,490
391,825
217,185
’
2,246318 Jm
2.162,857 W]
2,328,888 m
210,586
1,727,434
210,913
201,044
275,891
275,507
187,679
210,070
209,999
197,512
218,190
154,163
171,070
190,751
1,700,057
109,033
202,608
205,000
216.058
160,203
160,000
130,704
170,061
161,057
177,209
185,320
189,787
222.160
280,1328
259,757
206.8S9,
325,653
(100 to 200 m.). ;
(200 to 274 m.).
(274 m.). I
•
’
,608.775 1,453, 802 1.069,241' 1,720.616'l
2.105,801 2,002, 342 2,188,144 2,855,073 2
1.840,300 1,794, 645
(353 m.)..
(853 m.).
1881
(353 in.).
1885
(853 m.).
Western North Cnrolina—
(105 to 100 m.).
•
188,935
201,712
201,320
i
Virginia Midlaud—
St. L. Alton & T. H. Branches—
1881*
(121 m.).
(121 in.).
(121 to 138 m.).
87,588
90,898
152,753
153,600
1,310,133 1,330, 42'+1,606,568: 1,484^64.1
1,503,075 1,200, 421; 1,010,08i> j 1,709,71211
(204 m.)..
St. L. Alt. & T. H. Main Line-
95,215
90,583
64,654
80,905
-jyggj
173.374
191,535
219,188
07,755
50,4813
04,732
04,271
,.
1885
S:fe_
142,185
99,208 1103,837
91.047
85,585
98,249
104,307
148,429
148,107
184,845
185,275
382.057
413,551
496.805
398,013
380,049
380,150
407,308
400.252
400.840
;... .(322 m.)..
(322 m.)..
(722to 072 m.)..
.....(072 to 1,410 m.)..
(1,535 to 2,305 m.)..
.(2,440 to 2,453m.)..
1885
(2,453 in.)..
Peoria Decatur «fc Evansville(254 m.)..
(254 m.)..
(254 m.)..
(254 m.)..
Pennsylvania—
(All lines east of Pittsburg & Erie)—
(+1,844 to 1,887 m.)..
(+1,887 to 1,081 m.)..
(+1,081 to 2,030 m.)..
(+2,030 to 2.202 m.)..
(+2,202 m.)..
Philadelphia & Rending—
(840 m.)..
(840 m.)..
18835
(840 to 1,583 m.)..
1884J
(1,583 m.)..
18855
(1,583 in.)..
Richmond & Danville—
(757 in.)..
1883
..v757 m.)..
1884
(757 to 774 ru.)..
(774 m.)..
Charlotte Col. & Augusta—
.(308 m.)..
1883
(808 to 337 m.)..
(337 to 303 m.).
(303 m.)..
Columbia & Greenville—
(204 in.)..
(204 in.)..
(25)4 m.)..
$
130,189
154,207
60,682
82,250
75.529
63.996
75,170
100.585
100,619
135,808
158,040
195,650
174,769
217,834
210,208
100,281 *102,471!
108,572
200,487
213,020
230,350
(502 m.)..
DSS4
1885
Total,
%
140,448
150,749
174,033
201,081 *103,774 *105,140
(428 in.)..
Northern Central—
97,383
230,010
158,500
108,245
101,283
210,212
170,226
90,037
Dec.
103.943
59;931
67,610
93,297
95,034
Nov.
73,397
80,708
112,524
52,065
73,150
88,230
52,202
75,512
48.000
40,848,
70,000
110,301
107,548
(354 m.)..
Norfolk & West.--(At.Miss.tfc O.)-
166,637
142,427
] 104,207
50,132
52.048 |
57,048 !
45,330
40.549 :
03,588
73,041 J
55,500
45,936
88,327
263,589
238,721
282,006
382,985
252,889 :
330,914 !
270,101 !
307,858
281,802
405,321
850,417
763,838
682,330
387,488
853,290
012,700
602,011
414.954
71,714
58,535
394,907
370.390
432,927
801,759
029,013
504,421
80,732
62,029
75,577
118.443
90,935
1,547,008 1,972,712 2,128,065
1,503,949
813,374 1,109,399
907,033
1,134,768 1,313,77511,878,194
1,070,758 1.479,2S611.103,054
1,285,314 1,348,000
2|ll2!342
278,653
339,504
383,082
454,527
306,100
485,780
832,776
777,804
605,708
979.057
309,000
370,160
494,650
910,882
738,500 1,008,389
1.330,944 1,120,615 1.542.124 1,497,240 1,406,029
1,140,082 1,418,837 11,772,544 1,082,382 1,595,080
1,148,418 1,210,4Ofi 1,779,841 1,737,182 1,712,830
1,104,048 1,359,4491
..
|1,705,603| 1,721,230
832,488;
C74O306
276,556
333,020
395,462
399,874
800,100
8,180399%
313,205
403,040
375,578
8.890,565
4,044,880
508,530
528,263
753,510
913,334
845,514
878,255
699.480
826,293
2,681,489 2,451,407
2,026,234 2.479,290
2.273.59812,491,035 2,477,402 2,881,639 2,948,059 2,625,889 2,322,393
41751898 2,38-3,344 |2,430,155 2,499,271 2,001,747 2,426,770 2,332,119
..
750,0*4
875,400
«•••«*
2,811.040 2,703,002 2,718,400 3,037,029 2,990,201
2.458,812 2,157,909 2,755,000 3,092,462 3,035,275
......
1,372,300
1,525,715
1,560,120
1,294,057
1,331,952
1,518.288
1,448,383
8.5723411
4.878,968
8,764,771
8,394,601
8,275,887
29494,^ m
29,543375 | J
28,710441
25,791,109
U&F
'
israbm
umunm
and after June 1,1883.
c Embracing corrections found necessity
Pennsylvania & Ohio from and after May, 1383.
Mr. Adams on assuming office. q Including pool earnings.
.
Approximate figures.
+ And 00 miles of canal.
§ Including Central of N. J. from
after monthly , tals had been published.
/ Includes 03 per cent of earnings of N. Y.
a Not including St. Joseph & Western road.
X After deducting 1444,380 charged off by
*
Aug.
July.
103,000
(354 to 421 m.)..
1884
18S5.
1884*
1885*
80,706
30,755
77,000
70,851
100,357
Nashville Chntt. & St. Louis203,102 220,823
180,470
(508 to 530 m.)..
177,330
174,074
170,753
(530 to 550 m.) .
105,202 200,104
107,386
(550 m.)..
210,405 200,810
180,002
(580 m.)..
184,080 174.010 180,737
1865
(580 m.)..
New York Lake Erie & West.—
(1,000 to 1,020 m.).. 1,443,437 1.425,705 1,847,201
(1,020 to 1.000 m.).. 1,318,007 1,304,758; 1,507,633
1883 /
(1,000 to 1,020 m.).. 1,524,800 1,283,010'1,006,000
(1,022 m ).. 1,507,211 1,490,904 1,495,541
1884/
1885J
(1,022 m.).. 1,315,443 1,371,024
New York <fc New England—
180,740 173,014 212,019
(310 to 384 m.)..
205,222
(384 m.).. 213.840 217,201
206,311
237,711
245,081
(384 m.)..
252,003 259,471
243,047
(384 m.)..
(384 m.).. 230,420 220,090
New York Susq. & West.51,219
41,952
43,827
1882
70,074
00,097
08,107
1883
1885*
71,187
82,004
101,820
111,025
June.
$
$
118,427
83,450
120,002
Mobile & Ohio-
1885
May.
(330 m.).
1885
Milwaukee Lake (8.
1883.
Feb.
113,844
I
(330 m.)..
(330 m.)
1884!!!!!!!!!!!! !!*.’...........(ssom.j.
PRINCIPAL RAILROADS—(Concluded),
MONTHLY EARNINGS OF
Jan.
m
[Tot. XL.
RAILROAD EARNINGS.
06
#
scv«
':
TOD
KENNEDY
WILLIAM
63
No.
‘
"•
■
•'.. r*^
_
_'
*
Member N. Y. Stock Exchange.
/
J.
,
ALEXANDER BARING,
H. 0. NORTHCOTE.
J. KENNEDY TOD.
Av^’ -wfp;
vv
CO.,
&
STREET,
BAN K E R S.
Act as Agents for Banks, Bankers and Railroad Companies.
Issue commercial credits, also foreign and domestic travelers’ letters of credit in pounds
OFFER INVESTMENT SECURITIES.
sterling and dollars.
Buy and sell bonds, stocks and secuiities in all American, Canadian, British and Dutch markets.
Collect dividends, coupons and foreign and inland Drafts. £ell Bills of Exchange on
Melville, Evans & Co., C. J. Hambro & Son, LONDON ; II. Oyens & Son, AMSTERDAM; Hottinguer
„
& Co., PARIS.
LAWRENCE BROTHERS & CO.,
BANKERS
No.
BROAD
81
DEWITT C.
COMMISSION
STOCK
ATSTO
STREET,
NEW
BROKERS,
YORK.
CYRUS ,1. LAWRENCE,
LAWRENCE,
Members of New York Stock
Exchange.
BROWN BROTHERS & CO.,
WALL STREET, NEW YORK.
59
BUY AND SELL BILLS OF EXCHANGE
%
ON
Great Britain and Ireland, France,
Germany, Belgium, Switzer-
land, Holland, Norway, Denmark,
r
COMMERCIAL
ISSUE
IN
AVAILABLE
IN
ANY
PART
OF
THE WORLD,
AND
IA K E
Drawn Abroad
oil
this
AND IN
,
FRANCS,
CREDITS
mid
all Points in tlie United
IN MARTINIQUE AND GUADALOUP
TRANSFERS OF MONEY
Other
COL L E C T IONS
United
M-
TRAVELERS’
STERLING,
MAKE TELEGRAPHIC
Between
Sweden^nd Australia.
Conti tries;.
OV
R A FTS
States and Canada, and of Drafts Drawn
States on
Foreign
Countries.
in tlte
I
THE
FINANCIAL
(Annual.)
1 8 S 5
.
A Year Book of Financial Information
FOR
BANKERS,
STOCK
BROKERS,
MERCHANTS,
INVESTORS.
CONTEN TS:
Retrospect of 1884.
Invest incuts and Speculation-
mercantile Failures.
Compound Interest Table, Showing Accumulations of Money
Banking and Financial-
in
United States—National Bank Figures and Currency
ments.
New York City—Bank Returns, &c.
Move¬
out
of
The
London —Review
Year, Bank Returns, &c,
;
Stock Speculation in
Prices of United States Bonds
1S60-1SS4.
Markets
,
Silver—
U
Production, Exports and Imports of Gold and Silver in the
atJ)ifferent Prices (with-
regard to Date of Maturity).
Debt of tlie United States.
Slate
and
Securities Purchased
i lOsitcd Slates l»cJ>t and Securities—
Influences, and Prices of Call Loans and Commercial Paper
Gold
Showing the Rate Per Cent
!
States—Foreign Commerce, Trade Balance, U. S. Ex-
Money
on
Table
New York.
Commercial—
ports and Imports of Leadiffg Articles.
Series of Years.
Realized
London—Money
Market and Bank Returns.
United
a
Debts
and
Securities—
State Debts and Prices of State Securities, 1860-1884.
Railroads and their Securities—
Railroad Statistics of the United States.
Stocks.
1880-1884.
Railroad
Earnings.
The New York Stock
of Railroad Stocks. 1SS0-18S4.
Preferred
Railroad^!
Prices of Railroad
Market, 1SS0-18S4.
Bonds,^jj
Prices IS
..'if
@FedFRASER