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RAILWAY AND INDUSTRIAL
SECTION
OF THE
Co m m e r c ia l & j 7
im m c ia iT
{ ] hronicle ,
'opyrlghtod to 1019 . c c r d l . i , «■ Act o f O o w ~ . by W ILLIA M B . DANA C O M PAN Y, to o n f c .o m b r .r t o i, or C o m ™ . W u btogroo. D . O.
V o l.
108.
N E W
Y O R K ,
A P R IL
C H A N G E I N D A T E OF I S S U E OF T H I S P U B L I C A T I O N .
The “ Railway & Industrial Section,” heretofore published
three times a year, will hereafter bo issued semi-annually.
The next number will appear Oct. 25 1919.
S T A T U S OF R A I L R O A D S U N D E R F E D E R A L CONTROL.
The Federal Government took over the management of
the railroads of the United States as of Jan. 1 1918. Tn
view of the existing blockades, duo to the severity of the
winter and extremely heavy war and other traffic, the
authorities at Washington came rather suddenly to tho con
clusion that only by such unification could tho transporta
tion business of the country be handled effectively under
war conditions.
26,
1919.
N o . 2809.
The recommendation o f Director-General Hines that Federal control be
continued fpr fivo years was pblished in the "Chronicle,” V 107 d °337‘
V. 108, p. 645, 840, 1229.
The plan submitted by the Railway Executive Advisory Committee will
be found in V. 108. p. 129, 733: V. 107, p. 2156, 2339. The plan o f security
owners (Warfield plan) was in V. 108, p. 131, 438, 644- V 107 p 2062
Various other suggestions for putting the several systems on their feet
as independent operating entities or otherwise for Government
ownership are outlined In V. 107, p. 2064 , 2157, 2249, 2250 2336 2340
and in V. 108. p. 132, 133, 234, 644, 730, 731, 732, 734, 1029. 11301 1164.’
Tho “ Railway Review” of Chicago on March 29 1919 presented the seven
leading plans In tabular comparative form, very convenient for ready
reference.
II.
Operating Contracts—Standard Return—Small Roads.
Contracts for Government Control—Rental Payments.— The form o f con
tract which the Government is executing, witii slight variations, with the
railroads In its possession, will bo found in V. 107, p. 1157, 956 In
announcing the terms of the final draft approved by the Government, M r
McAdoo said:
“ Of course no railroad is compelled to accept the form o f contract the
A complete official list of the companies, with which Government offers. The company is free to reject the contract and go
compensation contracts had been executed to April 17 and Into the Court of Claims to obtain such compensation as the Court of
Claims will allow and to work out, under statutory and general legal prin
the amount of compensation payable thereundor will be ciples, all the details o f tne relationship which will arise between the Gov
found on a subsequent page, together with a list of the ernment and the company on account of Federal control. I am convinced
howover, that tne contract offered by tho Government Is Just and reason
short line contracts. _
able. Tho railroad owners have no right to assume more than that, and if
In April 1919 all the more important lines were still operated bv the the Government offers less they are fully protected by their right to reject
United States Railroad Administration, but how long such oneration tho Government’s offer and go into the Court o f Claims.”
would continue and what measures could and should be taken fo r ‘“ un
In April 1919 the Western Pacific R R Co. formally announced that it
scrambling” them were still mooted questions.
would not accept the terms of compensation offered by the Government
An official list o f the roads or railroad systems under Federal control and proposed to secure an adjudication o f its demands. V. 108, p. 1612.
as of Oct. 10 1918 was published in tho “ Chronicle” o f Nov 2 1918 d 1718
The Act of Congress approved March 21 1918 (cited in V 106, p 1421)
In an early issue o f the “ Chronicle” it is hoped to furnish a complete state authorized the President “ to agree with and to guarantee" to any carrier
ment of the changes which have been made in this list in the last, six month*
“ that during the period of such Federal control it shall receive as just com
In Jan. 1919 Walker D. Hines, formerly Chairman o f the Mchison pensation an annual sum (herein called standard return), for each year
Topeka & Santa Fe, became Director-General o f the Federal system suc . . . not exceeding a sum equivalent as nearly as may be to its average
ceeding William G. M cAdoo, who resigned (V. 108, p. 232)
M r Hines annual railway operating income for the three years ended June 30 1917,”
urged strongly that Federal control should be continued for a further fivo j and that "any railway operating accruing during the period of Federal
years (V. 108, p. 645), but Congress adjourned without acting on thom at
control in excess of such Just compensation shall remain tho property of
ter. As the law now reads. Federal control must terminate not later than the United States
In the computation o f such Income, deoits and credits
one year and nine months following the proclamation o f peace
arising from the accounts called in the monthly reports to the Inter-State
Tho Director-General on Feb. 28 1919 announced that tho'railroads Commerce Commission equipment rents and Joint facility rents shall be
would not be relinquished by the Government until a reasonable omior
included "
tunlty bad been given for the enactment o f a “ constructive, permanent
Such average earnings are certified bv the aforesaid Commission and out
program o f legislation. V. 108, p . 840. •
of tho samo the companies are to pay all Federal (war) taxes, interest and
Carefu1 endeavor has been made throughout this Section to separate other fixed charges. On the other hand, all "non-operating income”
the Federalized from tho independent lines. For tills purpose a star ( 2 )
belong exclusively to the railroads. This Includes Interest and dividends
has been placed against the title of the companies whose lines are believed on bonds and stock owned. Ac. All ordinary taxes are Included with
to be either directly or indirectly (as component parts or necessary adjuncts operating expenses, and hence are not a charge on the company’s rental.
of some larger system) under the Railroad Administration. A triangle
A list o f the compensation contracts finally executed up to April 17 1919
(A ) marks those lines understood to be independently managed
will bo found, as stated above, with the amounts of the compensation
When I* came to drawing a contract, which should allow tho railroads agreed upon on another page o f this section.
the rental to which they are entitled on the basis o f their normal opera
A special article on a subsequent page shows the "standard returns" as
tions, the Railroad Administration held that the roads should in some determined by the Inter-State Commerce Commission, in connection with
Instances forego or curtail dividends in order that the so-called deferred tho net operating income of the several roads for the year 1918.
maintenance and tho shortage in equipment and facilities should be made
Short Roads.— Tho Act of Congress, signed March 21 1918, gave the
good in whole or part. The railroad officials have thought otherwise. President authority to decide which roads it was not needful or desirable
Then, too, numerous claims have been made for extra compensation over to retain under Federal control. On June 29 1918, 2,161 short lines and
and above the Standard Return.” as explained in a subsequent paragraph, terminal properties (chiefly logging, industrial or plant facility lines) were
and these claims have been tho subject o f prolonged negotiations. The turned back to private management, several hundred o f them contrary to
policy of tho Federal Administration has been to deny such allowances ex tho wishes of their owners. This left at that time under Federal control
cept in extraordinary cases.
some 720 roads and systems o f various descriptions, embracing 167 main
Meanwhile, the U S. Railroad Administration from time to time is ad lino roads and 553 short lines, the latter including belt lines, wharf cor
vancing to tho roads in its care large sums as “ advanced rental.” In con porations, depots, bridge corporations, suburban electric lines, etc. See
sequence o f this state of things, the Dolawaro & Hudson, Lehigh Valiev V. 107. p. 44. 147, 1718: V. 108. p. 442.
and othor companies, in declaring their regular dividends, have been
Two standard forms of co-operative short line contracts have been adop
obliged to affix the words "provided the necessary funds are received from ted, the first covering roads having no competitive traffic, and the second
the U. 8 . R R . Administration.” Their Compensation not having been covering roads having competitive traffic. The two forms are the same
f xed (or its payment having been delayed), it has been necessary from except that In the form for roads having competitive traffic, a clause pro
‘ me to time for some such representative roads to go to tho Administra vides for reimbursement on competitive traffic diverted from them between
tion for permission to pay a dividend or the funds to cover tho same.
April 1 and Nov. 1 1918, and for giving to short line subsequent to Nov. 1
1918, the same proportion of competitive traffic as it had in the rears
I. Assumption and Duration of Government Control.
1915, 1916 and 1917.
y
The proclamation o f President Wilson f u m i n g control o f the roads was
Tho contracts provide in part: (1) That all Joint rates shall be fairly
dated Dec. 26 1917. See V. 1 0 5 , p . 2509: V. 106, p. 35.
divided between tho Director-General and the company. (2 ) That the
The Act ° f Congress, providing tho basis for Government control was short lines shall receive an equitable allotment o f cars. (3 ) That short
given in V. 106, p. 1091, 1193, 1421. It became a law Mar. 21 1918.
lines having a length o f 1 0 0 miles or less shall be allowed two days free time
Section 14 o f the Act o f Congress approved on March 21 1918 provides for cars under Federal control. (4) That the short lino shall have the
that Federal control shall continue for tho duration o f the war and “ a reason right to use tho purchasing agencies of the Director-General In the purchase
able time thereafter, but not exceeding “ one year and nine months next o f materials and supplies and shall have its repairs done in the shops o f the
following tho date o f tho proclamation by tno President o f tho exchange Director-General upon the same terms as were enjoyed before Federal con
of ratifications o f tho treaty o f peace." Special emphasis is laid on tho trol. V. 108. p. 235, 840, 841: V. 107. p. 1717.
statomont that the Act is emergency legislation and is not "to bo construed
as expressing or prejudicing the future policy o f tho Fedoral Government
III.
U n i t e d S t a t e s R a ilr o a d A d m i n i s t r a t i o n .
concerning the owncrsnlp, control or regulation of carriers or tho methods
Central Organization.— T o administer and supervise tho affairs of the
or basis o f the capitalization thereof."
Federalized Railroad system the Director-General has built up a powerful
RAILWAY AND INDUSTRIAL SECTION.
[Vo l . 108.
V . W a g e s a n d R a te In c r e a se s, N e w R o llin g S to c k , & c .
organization, helping himself liberally to somo of the best railroad, financial
Wages.— Tho Government was no sooner in control of tjio railroads than
and technical talent that the country affords.
The leading members of the Federal Railroad staff are as follows (a fuller it was met with tho then pending demand from the trainmen for increased
list, together with the names of the Federal officers o f the soveral Regional wages, notwithstanding tho benefits conferred on them by tho Adamson
Districts and tho names o f the parent roads embraced in each District, 8 -IIour Law, which went into effect in 1917. Tho increases in 1916 and
will be found on pages III to VI of ,the ‘ ‘Official Railway Guide,” 75 1917, it is stated, were equivalent to approximately 8300,000,000 if ap
plied to the number of railroad employees in 1918 (V. 106, p. 2086). The
Church St., N . Y .):
Railway Wage Commission named above was asked to consider tho caso.
LEADING OFFICIALS OF 17. S. RAILROAD ADM IN ISTR A TIO N .
Tho recommendations of tho Commission (V. 106, p. 1972) were sub
Central Administration.— Director-General of Railroads, Walker D. Hines; stantially followed by the Director-General in Ills announcement of
Assistant to tho Director-General, Brice Clagett; General Assistant to the M ay 26 (V. 106, p. 2308), which further increased wages, it is estimated,
Director-General, H. A. Taylor; Financial Assistant to the Director-Gen between $300,000,000 and $350,000,000 a year. For further particulars
eral, G. H. Barker; J. L. White, Accountant. Headquarters, Inter-State see V. 106, p. 156, 365, 559, 882, 1972, 086, 2192, 2308, 2310, 2522.
Commerce Building, 18th and Pennsylvania Ave., N . W ., Washington, V. 108, p. 443.
D . C.
Additional wage increases for track laborers, watchmen, othor mainte
nance of way employees, clerks station agents and other classes of men
(1) Division of Law.— John Barton Payne, General Counsel; Charles F.
drawing
relatively low pay, were approved Sept. 3; (V. 107, p. 956); to
Patterson, Assistant General Counsel; Sanford II. E. Freund, Assitsant
station agents N ov. 23 1918 (V. 107, p. 2065; V. 108, p. 4, 332); to ex
General Counsel; Nathan Matthews, Special Counsel.
Claims and Property Protection Section.— John H. Howard, Manager; press men, sleeping car and parlor car men on April 14 1919 (V. 108, p.
Philip J. Doherty, Counsel for Property Protection.
1572, 1573).
,
,,
On April 11 1919 further wage Increases of $65,000,000 were ordered for
(2) Division of Finance.— Swagar Sherley, Director; Charles B. Eddy,
railroad
trainmen,
engineers,
firemen
and
conductors,
in
botli
passenger
Associate Director; D. C. Porteous, Assistant to Director; Sidney B. Congand freight service, retroactive to Jan. 1 1919. With this award, the aggre
don. Assistant to Director; Charles A . Lutz, Treasurer.
(а) Finance Committee.— John Skelton Williams, Chairman; Franklin gate pay increases allowed by the R lt. Administration to tho 2,000,000
railroad employees is said to bo at the rato of $822,311,000 a year— more
Q. Brown, Frederick W . Scott, James N . Wallace, Harry Bronner.
than $400 average per man— and the total pay-roll of the railroads in the
(б ) Fire Loss and Protection Section.— Charles N. Rambo, Manager.
United States is raised to nearly $3,000,000,000 a year from tho basis or
(c) Marine Insurance Section.— Wm. C. De Lanoy, Manager.
approximately $2,000,000,000 on Jan. 1 1918, when tho roads passed into
(3) Division of Purchases.— Henry B. Spencer, Director; Samuel Porcher, the Government’s hands. V. 108, p. 1475, 1029, 815; V. 107, p. 2338, 1975.
Assistant Director; Geo. G. Yeomans. Assistant Director; Wm. M . Morris,
Rates.— On M ay 27 1918, following immediately his first increase in wages*
Assistant to Director.
(а) Advisory Committee on Purchases.— John Skelton Wiliams, Chair the Director-General issued orders increasing passenger rates from 2 'A cents
to 3 cents a mile and freight rates on both intor-State and intra-Stato traffic
man; Robert S. Lovott, Henry Walters.
25% , effective June 10 and June 25, respectively. On June 1 it was ordered
(б ) Forest Products Section.— M . E. Towner, Manager.
that Instead of raising intra-Stato rates to tho lovol of intor-State rates in
(c) Fuel Distributor.— B. P. Phillippe.
levying the approximate 25% adavneo.- tho then-existing intra-State rato
(d) Stores Section.— E. J. Roth, Manager.
structures might bo used as the basis. V. 106, p. 2305, 2087, 2411, 2719;
(e) Procurement Section.— II. C. Pearce, Manager.
V. 107, p. 1625, 1626, 2340; V. 108, p. 134, 332, 445.
(4) Division of Capital Expenditures.— T . C. Powell, Director; E. E.
In April 1919 friends of the railroads wero insisting that tho heavy falling
Adams, Assistant to Director; F. W . Sercombe, Assistant to Director.
off in the net receipts due to increased wages, &c., a falling off that threat
(5) Division of Operation.— W. T . Tyler, Director; J. II. Young, Senior ens to involve tho Federal Government in a loss of from $500,000,000 to
$1,000,000,000 for tho year 1919. must be met b y 'a further increase of
Assistant Director.
Has as subdivisions: (a) Car Service Section; (6 ) Marino Department; 10% or more in rates. Compare V. 108, p. 1436.
(c) Engineering and Maintenance Department; (d) Operating Statistics
As to tho cost of railway coal in 1917-18, see V. 108, p. 1476, 537; steel
Section; (e) Secret Service and Police Section; (/) Safety Section; (g) Me prices, V. 108, p. 1351.
chanical Department; (/i) Inspection and Test Section; (i) Pullman Car
Measures Overcoming Car Shortage in 1918.— See V. 106, p. 2718; V. 107,
Lines; (j) Troop Movement Section; (fc) Fuel Conservation Section; (/) p. 253; V. 106, p. 2621.
Telegraph Section; (m) Committee on Health and Medical Relief.
N e w F in a n c ia l M e a su res— L o a n s , C a p ita l E x p e n d itu r e s , & c .
(6 ) Division of Accounting.— Charles A. Prouty, Director; D. E. Brown, V I .
Revolving Fund..— Tho Government Control Act (V. 106, p. 1421) appro
Assistant Director; C. E . Ilildum, Manager, Accounting Section; J. W.
priated tho sum of $500,000,000 “ out of any moneys In tho Treasury not
Roberts, Auditor.
otherwise appropriated, which, togothor with any funds available from
(7) Division of Traffic.— Edward Chambers, Director; R ob’t C. Wright, any operating incomo of said carriers, may bo used by tho President as a
Assistant Director; Gerrit Fort, Assistant Director; II. P. Anewalt, Assis revolving fund for tho purposo of paying tho expenses of tho Federal con
tant Director; O. E. Spens, Assistant Director.
trol, and so far as necessary tho amount of just compensation, and to pro
(8 ) Division o f Inland Waterways.— G. A . Tomlinson, Director; C. D. vide terminals, motive power, cars and other necessary equipment, such
Whitney, Traffic, Manager.
terminals, motive power, cars and equipment to bo used and accounted
(а) New York-New Jersey Canal Section,— H. S. Noble, Federal Mgr. for as the President may direct and to bo disposed of as Congress may
(б ) Mississippi-Warrior River Section.— M . J. Sandors, Federal Manager. hereafter by law provide.”
,
,
,
Tho Act further provided that “ tho President may also make or ordor
(9) Division of Labor.— W . S. Carter, Director; J. A. Franklin, G. W . W. any
carrier to mako any additions, and to provide terminals, motive power,
Hanger, Assistant Directors; II. H. Reed, Special Assistant.
cars and other equipment necessary or desirable for war purposes , or in
Has as Subdivisions: (a) Women's Service Section, Miss Pauline Gold the public interest on or in connection with the property o 1 any carrier.
Ho may from said rovolving fund advance to such carrier all or any part of
mark, Manager; (6 ) Railway Board o f Adjustment No. 1, F. A. Burgess,
the expense of such additions, betterments or road extensions, and to pro
Chairman; (c) Railway Board o f Adjustment No. 2, E. F. Potter, Chair vide terminals, motive power, cars and othor necessary equipment so
man; (d) Railway Board of Adjustment No. 3, H. A. Kennedy, Chairman. ordered and constructed by such carrier or by tho President, such advances
be charged against such carrier and to bear interest at such rate and bo
(10) Division of Public Service.— Max Thelen, Director; George T . At to
navablo on
as
may
to tho end
*.
r t . such
n . j terms
»._ -w
,„ ...
v.„ Fbo
, 1 1 1 1determined
r i-nioiiimvo/lby
f’ni*tho
nnvPresident,
enme
nrlvanppi
kins, Assistant Director; Edward C. Niles, Assistant Director.
(0) Short Lino Section.— Edward C. Niles, Manager.
(1) ) Bureau for Suggestions and Complaints.— E. H. Lamb, Acting Chief.mainder as loans or advances. Seo tho table under “ Financial Opera(11) Board of Railroad Wages and Working Conditions.— F. F. Gaines,
Chairman; A . O. Wharton, Vice-Chairman; J. J. Dermody, C. E. Lindsay, U ° C a v iU R ° E x 'p e n d i l i i r e s .— O n M ay 19 1918 tho Railroad Administration
announced that a total capital expenditure of 3937,961,318 by the rail
W. E. Morse, G. I I . Sines.
roads under Government control had been approved. Of this, $440,071,
013 was for additions and betterments, $479,686,531 for equipment and
Regional Adm inistration.
$18,203,774 for extensions. See V. 106, p. 2194.
(1) Eastern Region.— A. H. Smith, Regional Director, New York; A. T. $18.
Tho -purposes
to which tho now money was to bo applied wero stated in
„
Harden, Assistant Regional Director; M . J. Alger, Executive Assistant;
•T1
---- y ------The principal items approved in addition to the $479,000,H . W. Burnham, Executive Chief Clerk; J. II. Hustis, District Director,
additional yard tracks, sidings and industry tracks, $98,061,553; shop
Now England District, Boston, Mass.
buildings, engine houses and appurtenances, $61,979,476; rails and other
(2) Allegheny Region.— C. II. Markham, Regional Director, Philadelphia, track material, $31,550,115; bridges, trestles and culverts $38,035,762;
Pa.; M . P. Blauvelt, Assistant Regional Director; L. W. Baldwin, Operating freight and passenger stations, otfice buildings,
$22,940,634. See
Assistant.
•
a'bA Tabular ^'onfpiiatfon published in Aug. 1918 (V. 107, p. 957) shows
(3) Pocahontas Region.— N. D. Maher, Regional Director, Roanoke, Va. that tho work specifically authorized to Aug. 15 on capital account aggre
gated $1,097,398,000 (as against $123,652,000 from operating oxponses)
(4) Southern Region.— B. L. Winchell, Regional Director.
and that of this amount $405,760,000 was for simdry additions and bettcr(5) Northwestern Region.— R . H. Aishton, Regional Director, Chicago, monts $35,952,000 for extensions, &c., and $655,63b.000 was for now
111.; M . J. Gormley, Assistant Regional Director.
rolling stock and other equipment, and improvements to samo. Tho orders
(6 ) Central Western Region.— Hale Holden, Regional Director, Chicago,
III. ; B. B. Greer, Assistant Regional Director, Chicago, III.
(7) Southwestern Region.— B. F. Bush, Regional Director, St. Louis, M o.
Dec. 1 1918 and the expenditures to Nov. 1 1918.
.
In March 1919. owing to tho failuro of Congress to add to tho Rovolving
W . G. Vollmer, Assistant Regional Director, St. Louis, M o.
Fund orders wero given that no new work should bo undertaken involving
IV . Official Staff of Individual Railroads, Federal Managers, &c.
an outlay of more than $ 1 ,0 0 0 without tho approval of the corporate offi
who would bo obliged to finance tho same. 1 ho Administration, how
Director-General M cAdoo announced on May 21 1918 that he had de cials
ever, favors a continuance of such work as iar as possible. V . 108, p.
cided to place in direct cliargo of each railray property a “ Fcdoral Manager’
11 *30* 1229
(or “ General Manager under U. S. Government.” ) who would as far as
New Rolling Stock.— Tho U. S. RR. Administration as of Dec. 31 1918
practicable bo chosen from tho operation officers of tho particular property li■id Ccontracted 'fo r now rolling stock to a total of $404,425,553. on
and who must sever official relations with the carriers and become exclusive which there was still to bo paid sums aggregating $286,637,860 (compare
V. 106, p. 2561, 1861; V. 108, p. 1229), viz.:
representatives o f the Federal Railroad Administration. Compare also
(1) Contractual Obligations Dec.- 31 1918, covering 100,000 Standard Cars.
V. 106, p. 2192, 2522.
1mount.
Price•
To tho foregoing were later added Federal Treasurers for many roads Number. c g Tune—
$53,944,000
.......................$2,697 20
2 0 ,0 0 0
70,416,750
under order o f July 19 1918. V. 107, p. 369. Those officials receive all
.......
.....................
2,916
67
Homier".............I"
25.000
72,972,000
moneys derived from railroad operations sinco Jan. 1 1918 and all cash
25.000 D S b o x "'.................... ......... ............. 2,918 8 8
76,251,250
....................... 3,050 05
25.000 S S box................
intended for operating or improvement purposes.
15,869,450
7
0
-ton
.........................s
.
m
s
o
5,000
The Railway Executives Advisory Committee, representing the interests
$289,453,450
o f the railroads, nono of its members being connected with the United 1 0IU.UW
0 ,0 0 0
Total cost-------------------------------4 9 1 0 9 CI1 0,10
Balance
still duo on above c a r s .................- ......................
jo z
States Railroad Administration, now consists of C. B. Seger, acting Chair
man of tho Union Pacific; S. T . Bledsoe, General Counsel Atchison Topeka (2) Contractual Obligations Dec. 31 1918, Covering 1,930 Standard Locomotives.
Less Payment
& Santa Fe; A. H. Harris of the New York Central; E. M . Ilyzer, Vice
A77,„,„
Tune__
Total Cost. on Account. Balance Due.
President Chicago & North Western; B. F. Bush, President Missouri
Pacific; A. J. Earling, Chairman Chicago Milwaukee & St. Paul; Howard
Elliott, Chairman Northern Pacific; W . J. Harahan, President Seaboard
Air Lino Ity.; Halo Holden, President Chicago Burlington & Quincy;
Julius Krutschnitt, Chairman Southern Pacific; L. F. Loree, President
Tnt~i
$114,972,103 $40,601,184 $74,370,919
Delaware & Hudson; Samuel Rea, President Pennsylvania System; W. L. Less units'deffvered: 1111111111 —
33,769,998 33,769,998
...............
Ross of tho Toledo St. Louis & Western; F. D. Underwood, President of
Balance uncompleted. . . ......... $81,202,105 $6,831,186 $74,370,919
the Erie; Henry Walters, President o f tho Atlantic Coast Lino, and Daniel
Grand total due on cars and locomotives................ ................... ,sou
Willard, President o f tho Baltimore & Ohio. (V. 106, p. 2193.)
A pr . 1929.]'
RAILWAY AND INDUSTRIAL SECTION.
The “ Railway Age” on April 11 1919 said: Freight cars have come to
be about a drug on the market since the signing of the armistice. In ad
dition to the large number of Idle cars which havo been in service, several
thousand of the new standard cars built on the orders placed by the Rail
road Administration last year have been completed by the builders but
cannot bo stenciled because the railroad companies which are expected to
take them and pay for them havo not yet accepted them. Over 26,000
o f the 1 0 0 ,0 0 0 standard cars ordered had been accepted by the roads to
March 31, but this docs not account for at least 10,000 more that have been
built and are being hold in storage until it can be ascertained whether the
Railroad Administration can force the companies to take them at high
prices. Tho Administration takes the position that it can, because they
wore ordered under war conditions and allocated to the various roads.
The standard locomotives, on the other hand, are being accepted as fast
as they can bo turned out.”
Financial Operations in 1918.— The financial operations of the U. S. RR
Administration aro summarized as follows (V . 108, p. 1229):
Cash Receipts and Disbursements of U. S. RR. Administration, Year 1918
Receipts—
Revolving Fund. Operation.
Total.
Original appropriation------------ 8600,000,000
__________
$500,000,000
American Railway Express Oo_ --------------- $42,157,416
42,157,416
Wells, Fargo Co. Express--------- ---------------4,759,000
4,759,000
Net operating income (n o t e )... __________ 785,397,956
785,397,956
Total............................ ......... $500,000,000 $832,314,372 $1,332,314,372
Disbursements—
x Loans to railroad companies:
Secured ------- ------------------- $ 110,317,500 $34,185,460
$144,502,960
U nsecured------------------------- 15,500,250
50,433,113
34,932,863
Advances on compensation_ 138,331,660
253,277,800
114,946,140
Payment o f corporate liabilities
in excess of corporate assets
received or collected________ __________
68,743,883
68,743,883
Additions and betterments ex
penditures _________________ __________
455,817,710
455,817,710
Purchaso of standardized equip
m e n t----- ---------------------------- 114,514,400
114,514,400
Advances to inland waterways. __________
4,361,486
4,361,486
Advances to Federalmanagers.
74,791,000 (74,791,000)
Miscellaneous (note)__________ __________
(6,436,980)
(6,436,980)
T otal----------------------------------$453,454,810 $631,759,562 $1,085,214,372
B a l a n c e . ....................... ........................ $ 4 6 , 5 4 5 , 1 9 0 $ 2 0 0 , 5 5 4 , 8 1 0
$ 2 4 7 ,1 0 0 ,0 0 0
iV b le .-T -T h is s t a t e m e n t p r e s u p p o s e s t h a t a l l t h e in c o m e w a s a c t u a l l y
c o l l e c t e d i n c a s h ; t h is is n o t a c t u a l l y t h e c a s e , p a r t l y b e c a u s e s u b s t a n t i a l
a m o u n t s o f f r e i g h t a n d p a s s e n g e r f a r e s w e r e n o t a c t u a l l y p a id in c a s h , a n d
in p a r t m a t e r i a l s a n d s u p p li e s h a v e n e c e s s it a t e d t h o e m p l o y m e n t o f a p a r t
o f th e c a sh .
T h o in c lu s io n o f t h o i t e m o f ( $ 6 , 4 3 6 , 9 8 0 ) (in p a r e n t h e s e s ) is
a r o u g h w a y o f r e fle c tin g th e se a n d o th e r s im ila r fa c to r s .
x I n c l u d e s $ 5 1 , 4 7 5 , 0 0 0 lo a n e d t o N e w Y o r k N e w H a v e n & H a r t f o r d R R .
$ 4 3 , 9 6 4 , 0 0 0 o f t in s e a r l y in 1 9 1 7 t o r e t ir e m a t u r i n g n o t e s , V . 1 0 6 , p . 1 3 1 4
1676, 1689; V . 107, p. 1717.
F i n a n c ia l P o s it io n a n d R e q u ir e m e n ts .— O n J a n . 2 4 1 9 1 9 th o D ir e c to r G e n e r a l a p p l i e d f o r a $ 7 5 0 , 0 0 0 , 0 0 0 a p p r o p r i a t i o n in a d d i t i o n t o t h e o r ig in a l
3 5 0 0 , 0 0 0 , 0 0 0 r e v o l v i n g f u n d , s t a t i n g h is r e q u i r e m e n t s s u b s t a n t i a l l y a s
fo llo w s ( V . 1 0 8 , p . 2 2 8 , 4 3 7 , 8 4 0 , 9 3 6 , 1 0 2 8 , 1 2 2 9 ) :
(1 )
A p p r o x im a te F in a n c ia l P o s itio n o f U .
S. R R . A d m i n . D e c . 3 1 1 9 1 8 .
a
b
G a s h w o r k in g c a p i t a l , a p p r o x , a m o u n t D e c . 3 1 1 9 1 8 ________ $ 2 4 7 ,1 0 0 0 0 0
C u r r e n t a s s e ts : A g e n ts a n d c o n d u c to r s ' b a la n c e s , $ 1 5 4 ,0 0 0 ,
0 0 0 t e m p o r a r y a d v a n c e s t o r a i lr o a d s o n o p e n a c c o u n t fo r
w h ic h in e f f e c t m a t e r ia l s a n d s u p p li e s a r o h e ld a s c o l l a t e r a l .
$ 1 0 0 , 0 0 0 , 0 0 0 ; t o t a l , $ 2 5 4 , 0 0 0 , 0 0 0 ; le s s c u r r e n t li a b i l i t i e s ,
$ 1 6 2 , 0 4 7 , 8 6 5 ; b a l a n c e _____________________________________
q i q r.o n e
C L o a n e d t o N . Y. N . H . & H a r t f o r d R R . (V. 1 0 6 p~ 1344~
’
’
'
' 1
’
5 1 4 7 5 000
1 6 7 6 , 1 6 8 9 ; V . 1 0 7 , p . 1 7 1 7 ) __________________ . . .
d I n v e s t e d in n e c e s s a r y a d d i t i o n s a n d b e t t e r m e n t s a c t u a l l y
’
’
m a d e d u r i n g t h o y e a r 1 9 1 8 o v e r a n d a b o v e t h e a m o u n t w h ic h
t h o c o m p a n i e s c a n i m m e d i a t e l y r e p a y o u t o f t h e ir r e n t a l a n d
o u t o f t h o b a l a n c e s d u o t h e m o n o p e n a c c o u n t fo r 1 9 1 8 _
290 918 283
e O p e r a t i n g lo s s f o r 1 9 1 8 , i . e . , t h o d i f f e r e n c e b e t w e e n t h e
"
’
s t a n d a r d r e t u r n d u e t h e r a ilr o a d s b y t h e U . S . R R . A d m i n i s
t r a t i o n a n d t h e ir n e t o p e r a t i n g i n c o m e _______
. . . .
1 9 1 )0 0 0 000
E x p e n d e d in 1 9 1 8 in c o n n e c t io n w it h in la n d w a t e r w a y s '
’
’
$ 5 0 0 , 0 0 0 f o r d e f i c i t , b a l a n c e , f o r b o a t s , e t c ________
.
_ ’
4 30 1 486
T o ta l-----------------------------------------------------------$881 806 904
Amount of original Revolving Fund_______________________ 500’,000’,b()0
/ Balance, needed to settle accounts for 1918____________ $381,806,904
(2) Requirements for Calendar Year 1919.
1 . Expenditures contemplated on inland waterways______
$ 1 2 840 0 0 0
2. Boston & Maine reorganization____________________
20 000 000
3. Equipment ordered in 1918 and to be delivered in 1919
280 OOO’OOO
4. Further additions and betterments, including equipment
4 9 l’000’000
Total -------------------- - - -,- - - - - - - - •-------------------------------- $809,840,000
Less portion of companies rental which can be devoted to
capital expenditures..................................... ......................... 150,000,000
Balance to be p r o v i d e d ..................................... ...............$659,840,000
Mr. Hines stated that the railroad companies had a great many maturities
to meet this year, but although they would want assistance for that pur
pose, his policy would bo to let them meet their own maturities as well as
to finance largely the additions and betterments for 1919. He also empha
sized the tact that by far the greater part of the money heretofore provided
for them by the Government will eventually be returned to the Federal
treasury.
Temporary Financing.— Tho failure of Congress to pass the bill providing
an additional $75.0,000,000 for the Revolving Fund necessitated various
extraordinary measures to enable the U. 8 . RR. Administration to meet its
current commitments to the railroad and equipment companies and others
and also to assist the railroads in meeting their needs for new capital re
funding, etc. The amountsneeded to June 30 1919were estimated by the
Director-General at$701,b 9 /,000 (V. 108, p. 1028), as
follows:y
Amount Required up to June 30 1919.
For interest and other corporate requirements of tho railroad
corporations . . . --------$166,066 762
To meet amounts duo equipment companies by the Railroad
Administration----------------------------------------------183681
965
To pay for indispensable additions and betterments, including
’
’
equipment ordered by railroad companies__________ ____
x10 0 0 0 0 0 0
To meet maturities of the railroad corporations__________
100 948 965
To meet excess of cash requirements to pay current vouchers
’
' '
over tho probable receipts up to March 31 1919
_ 1 n 1 000 000
To bring cash balances in hands of Federal treasurers up to
’
’
$2 0 0 ,0 0 0 ,0 0 0 which is tho normal requirements for one montli 40,000,000
It was made clear that to a large extent it will be necessary for the rail
road corporations to meet their requirements by obtaining loans from
bankers, tho resources o f the War Finance Corporation to be reserved to
protect special cases.
On March 18 1919 tho Administration borrowed at 6 % $50,000,000 (due
on or before July 18 1919) from the War Finance Corp. The War Depart
ment on March 21 advanced the Administration $100 000 000 on ac
count of tile transportation of troops, and the Navy Department paid it
$10,000,000 that would otherwise have been considerably delayed (V 108’
p. 1128). Tim Warfin a n c e C o lo ra tio n also increased largely its loans to
tho railroads (Y. 108, p. 1228, 1352, 2440), and to strengthen its resources
for that and other purposes placed in April 1019 an issue of $200,000,000 5%
bonds IV. 108, p. 1342). Compare War Flnanco Corporation below.
The U. S. RR. Administration also issued its own 5 % certificates of in
debtedness to the individual roads for amounts due or to be due to them on
compensation (in full payment when compensation contracts had been
signed,o therwlse only 90% ), and also on other accounts and these certificate
were used as collateral by the roads in order to borrow from their own banks
or from tho War Finance Corporation or the Administration itself
V 108s
I). 1352.
It is supposed that an extra session of Congress will be called and tho
needed funds appropriated to relievo embarrassment of Administration.
War Finance Corporation.— The War Finance Corporation was organized
on M ay 17 1918 by the Secretary of the Treasury and others, with an
5
authorized capital stock of $500,000,000 (and the right to issue bonds to
an amount not exceeding $ 2 ,0 0 0 ,0 0 0 ,0 0 0 bonds) to provide credits "for
industries and enterprises in the United States necessary or contributory
to the prosecution of the war.” The Act creating the Corporation was
given in Y. 106. p. 1183, 2065— also see V. 106, p. 651 to 656, 977, 978, 979.
Up to Oct. 31 1918 (V. 107, p. 2137), loans of $67,716,342 had been
advanced by the War Finance Corporation chiefly or wholly to public
utility, lumber, coal and miscellaneous corporations: $29,863,648 had been
repaid, leaving $37,852,594 outstanding. The Brooklyn Rapid Transit Co.
came in for substantial assistance (V. 106, p. 2648, 2755— V. 107, p. 180.
290, 703).
In January 1919 the corporation began making considerable advances to
railroads (V. 108, p. 116), and on March 4 these aggregated $71,505,000,
and on March 28 about $135,000,000 on “ adequate collateral;' (V. 108, p.
1020, 1343, 1352), while in April 1919 an issue of $200,000,000 bonds was
sold, partly as above stated, to facilitate in railroad financing.
Capital Issues Committee.— This committee's activities came to an end
Dec. 31 1918. V. 108, p. 2421, 2228.
Consolidation of Certain Railroad Officers. &c.— On April 15 tho DirectorGeneral ordered (1) tho discontinuance of separato city freight or passenger
offices where the public may bo adequately served at the depot; (2 ) the
consolidation or grouping of all city ticket offices in one union office, &c.—
V. 106. p.1535.
Joint Use of Pennsylvania Station in N. Y. City.— On Sept. 15 1918 under
order of the U. S. RR. Administration, the Baltimore & Ohio and the
Lehigh Valley RR. began using the Hudson River tubes and passenger
station in New York City of the Pennsylvania R R . Co.
■
Restoring Railroad Passenger Service to Normal. See V. 107, p. 2341, 770;
Pooling of Equipment—Per Diem Charges Suspended.— On Juno 17 the
Railroad Administration abolished the per diem plan of charging for the use
of cars between individual lines. The ruling makes all equipment common
property so far as its use is concerned. This chango affects tho hire of
equipment account which in the case of many roads has often appeared
in connection with the earnings as reported from time to time, either
as a large credit or a largo debit item according as the road in ques
tion was amply supplied with rolling stock or was dependent to any con
siderable extent on connecting lines for tho cars used hy its shippers.
Railroad Advertising and Statistics Bureau.— In April 1918 the Railroad
Administration curtailed railroad advertising and on May 2 they prohibited
the roads from including in their operating expeases contributions toward
the maintenance of the Bureau of Railway News and Statistics.— V.
106, p. 1423, 1971.
Railroads Accounting Purchasing, &c.— See V. 106, p. 56, 252, 883, 1305,
2722, 2721, 1961, 1756, 1535, 984, 885, 157; V. 107, p. 1625. Report of
Director-General as to accounting, V. 108, p. 445, and as to railroad
saving, &c., in V. 107, p. 2065, 1030.
Relations with Inter-State Commerce Commission.— See V. 106, p. 562,
1091, 1194, 1861, 2412, 2520; V. 107, p. 1625; V. 108, p. 443.
Universal Mileage Scrip.— This scrip, good on all roads at 3 cents a mile,
was placed on sale on or about Aug. 1. V. 107, p. 253.
Monthly Statements of Earnings.— Prior to the taking over of the roads
by the Government, or, to be strictly accurate, prior to the call for the
March 1918 reports, monthly returns were required from all carriers having
railway operating revenues in oxcess of $100,000 per annum. The Inter
State Commerce Commission now requires monthly reports onlv from
roads whoso gross railway operating revenues exceed $ 1 ,0 0 0 ,0 0 0 per
annum.
American Railroad Association.— This association, of which all roads
under Federal control are members, co-operates with the Director-General
"for the advancement of railroad practice.” — V. 108, p. 443.
Government Operation of Erie Canal, Steamships and E lectric Lines.
Eric Canal, Etc.— Mr. McAdoo in April 17 announced that he had
decided to construct and put into operation a lino of barges to be operated
by the Government on tho Erie Barge Canal for tho purposo of relieving
railroad congestion. This canal was completed and formally opened for
through traffic between the Hudson River and tho Great Lakes on May
15. V. 106, p. 1641, 1642, 2085. 2620. G. A. Tomlinson was in April
1918 made General Manager of tho Erie Canal, and on July 15 his jurisdic
tion was extended to New York and New Jersey canals generally. V.
107. p. 253.
On July 25 1918 the Capo Cod Canal passed under Govt, control.
V. 107, p. 470.
Control of Steamship Lines.— In accordance with a proclamation issued
by President Wilson under dato o f April 11 control of four of tho principal
Atlantic coastwise steamship lines was assumed by the Railroad Administra
tion on April 13 1918, but theso were returned to their owners Dec. 1 1918,
leaving under Government control the railway owned lines, viz.: the Ocean,
Old Dominion, Southern Pacific, Baltimore Steam Packet and Chesapeake
SS. Co.
Unification of Express Business.— Seo American Railway Express Co.
under Industrial Companies.
On N ov. 18 1918 this merger company
was placed under control of the Director-General of Railroads. V. 107,
p. 1978. Increased express rates took effect Jan. 1 1919. V. 107. p.
2065, 794.
Unification of Telephones, Telegraph and Cables Companies under Federal
Control.— Sec V. 107, p. 1952, 1972, 1973, 1975, 2067, 2341; V. 108, p. 129.
134, 135, 1026.
A DVANCES—STA NDA RI) RETURN.
From month to month during 19IS official statements were
published showing heavy “advances” by the United States
Railroad Administration to the rairoads in its central. For
tho 13 months ending Jan. 31 1919 the total advances so
stated aggregated over $787*,000,000, of which only .$98,
000,000 had been repaid (V. 108, p. 540). In April 1919 it
was made known, as had long been surmised, that tho great
bulk of this largo total was merely tho compensation ad
vanced to the various roads pending final execution of tho
Fcdoral contracts. The outstanding loans held by the RR.
Administration, it was stated, aggregated on March 31 only
$169,735,000 with a further $163,950,402 due it on account
of now equipment (V. 108, p. 1475).
It had been intended to republish in this Section the table o f advances
to Jan. 31 1919 as given in the "Chronicle" of Feb. 8 , page 640, but in view
of the statement by the Director-General on April 5 that the advances
included in fact so small a proportion of actual loans this plan was abandoned
At a hearing before the Appropriation Committee of the
House of Representatives in Feb. 1919 Director-General
Hines stated (V. 108, p. 840):
As of Jan. 26 1919, tho number of standard contracts signed was 34 and
44 more wero about ready to sign, while 23 others had been drawn and were
in process of consideration. As far as I know, practically every company
whose road has been taken over is relying on the making of the contract
and the Railroad Administration is assuming the standard return will be
paid to all of them. The compensation provided for by the 34 signed con
tracts amounts to about $360,000,000. No contracts have been executed
which include any allowance for compensation in addition to the standard
return, except in the rase of the Missouri & North Arkansas, which had
been allowed $161,230 in addition to its standard return of $13,140. No
contract has been executed for less than the standard return.
0
RAILWAY AND INDUSTRIAL SECTION,
Summary of Special Claims for Compensation, in Addition to the Standard
Return, Filed with United States Railroad Administration to Feb. 6 1919.
Amount
Amount
Number
o f Allowance.
o f Claim.
Status—
o f Claims.
$1,316,539
$6,419,876
Tentatively allowed in part
11
Denied__________________
30
22,593,184
W ithdrawn______________
5
321,635
Pending_________________
3646,204,136 Not yet determined
T o ta l_________ _______
82
$75,538,832
------- -------In the aggregate the net operating income for 1918 was $689,800,000 as
against standard returns totaling $903,300,000 showing a deficit to the
Government of $213,500,000 made up o f deficits o f $149,800,000 and $72,
200,000, respectively, on the Eastern and Western roads, respectively,
less again on the Southern roads o f $8,500,000.
.
Inasmuch as it appears, therefore, that the standard return
(which, as explained on a preceding page, is the average
annual railway operating income for the three years ended
June 30 1917, as determined by the Inter-State Commerce
Commission) is likely to bo adopted without modification
in a great majority of eases as tho compensation of tho indi
vidual roads, tho following compilation made by tho Bureau
of Railway Economics from the roports of the I.-S . C . Com
mission is pertinent and worth reprinting here:
[V o l . 108
1918 Net
Standard
Operating
Income.
Return.
77,637
Louisiana & Arkansas____________
407,987
198,746
Louisiana R y. & Navigation C o____
357,353
Louisiana Western________________
895,178
1,823,579
Alidland Valley___________________
750,888
414,346
Mineral Range___________________
9,710
147,432
Minneapolis & St. Louis__________ 2.639,857
235,782
Minneapolis St. Paul & Sauit Ste
3,858,722
M arie__________________________ 10,573,291
Minnesota & International________
(157,885
202,455
dl 17,046
Missouri & North Arkansas________
13,146
5,213,798
Missouri Kansas & Texas_________ 5,853,831
d800,095
Missouri Kansas & Texas of T exas..
621.773
d470,167
Missouri Oklahoma Sc Gulf________
483,603
Missouri Pacific__________________ 14,206,814 11,764,562
Morgan’s Louisiana & Toxas Pacific
2,357,330
R R . Sc N av..................................... 1,188,526
445,112
218.773
Now Orleans Texas & M exico______
Northern Pacific__________________ 30,057,760 28,209,373
1,498,908
1,235,101
Northwestern Pacific_____________
Oregon Short Line________________ 10,196,750 10,703,193
4,488,494
Oregon-Washington R R . & Nav. Co. 4,519,352
1,330,664
d8,171
Pan Handle & Santa Fe___________
dl05,315
306,514
Peoria Sc Pekin Union______________
dl06,527
373,811
St. Joseph & Grand Island_________
1,245,345
St. Louisville Brownsville & Alexico.
983,890
St. Louis Merchants Bridge Ter
4106,556
412,428
minal __________________________
St. Louis San Francisco___________ 13,690,213 11,199,410
dl 17,556
St. Louis San Francisco Sc Texas____
(1327,035
3,672,695
3,355,749
St. Louis Southwestern___________
(1343,124
St. Louis Southwestern R y. o f Toxas
555,165
San Antonio Sc Aransas Pass_______
dl29,476
373,052
33,970,453
Southern Pacific_________________ 1
4,034,653
Southern Pacific Steamship Lines. / 38,021,938
Spokane Portland Sc Seattle_______ 1,871,083
2,679,866
1,856,682
Terminal R R . Assn, of St. L o u is __ 2,574,511
318.730
310,033
Texarkana Sc Fort Smith__________
715,136
964,627
Toxas Sc New Orleans_____________
3,707,266
Texas & Pacific___________________ 4,107,432
159,740
dl0,955
Toledo Peoria & W estern.. ’________
d238,905
d.387,752
Trinity & Brazos Valley___________
Union Pacific_____________________ 23,700,009 35,616.554
589,157
Utah Ry b .......... ................. ..............
322,495
337,948
Vicksburg Sliroveport Sc Pacific____
2,575,300
Western Pacific___________________ 1,900,350
4489,516
Wichita Palls & Northwestern_____
145,245
(2 )
W estern D is tr ic t—
Greater or
Less Than by
Standard.
— 330,350
— 158,607
+928,401
+306,542
— 137,692
— 2,404,075
— 6,714,569
— 260,340
— 130,192
— 640,033
— 1,421,868'
— 386,564
— 2,442,252
+ 1,168,804
+226,339
— 1,848,387
+263,807
+506,443
— 30,858
— 1,338,835
— 411,829
— 480,338
+261,455
— 518,984
— 2,490,803
COM PARISON OP 1918 EARN INGS W ITH STAN D ARD R E TU R N .
+209,479
+316,946
Greater or
1918 Net
— 898,289
Operating
Less Than
/
Standard
— 502,528
Income.
by Standard.
(l) Eastern District— (Concl.)
Return.
$175,134 — $351,749
Ann Arbor________________________
$526,883
— 16,832
1,018,479
+796,413
Atlantic C ity_____________________
222,066
+ 808,783
<1158,175 — 1,412,721
Baltimoro & Ohio Chicago Terminal 1,254,546
— 717,829
7,187,683 -18,424,209
Baltimore & Ohio_________________ 25,611,892
— 8,697
(121,323
— 107.970
Baltimore Chesapeake & Atlantic. .
86,647
+249,491
— 963,546
592,229
Bangor & Aroostook_______________ 1,555,775
— 400,166
1,581,682
+712,240
Belt Railway o f Chicago__________
869,442
— 170,695
+239,052
4,913,766
Bossemer & Lake Erio____________
4,674,714
— 148,847
1,733,008 — 7,745,067
Boston & Maine__________________ 9,478,075
+ 11,916,545
— 488,058
104,570
Buffalo & Susquehanna RR. Corp_.
592,628
1,027,518 — 2,248,892
Buffalo, Rochester & Pittsburgh__ 3.276,410
— 15,453
53,036 — 1,415,088
Central New England____________
1,468,124
+ 674,950
6,268,096 — 3,084,205
Central R R . o f New Jersey............
9,352,301
— 634,761
d647,358 — 1,426,456
Contral Vermont
779,098
1,539,112 — 1,406,889
Chicago & Eastorn Illinois_________ 2,946,001
b Road operated as a lessor company prior to Dec. 1 1917.
225,129 d l ,189.262 — 1.414,391
Chicago and Erie_________________
d Indicates deficit.
746,739
— 873,520
Chicago Indianapolis & Louisvillo.. 1,620,259
766,068
— 156,717
Chicago Terre Haute & Southeast-.
922,785
(3) Southern District—
dl65,412
— 587,625
Chicago Indianapolis & Western__
422,213
+ $1,141
$323,995
$322,854
255,971
— 61,657 Alabama * Vicksburg____________
Cincinnati Northorn_______________
317,628
+335,291
Alabama
Southern__________
2,038,471
1,703,180
Clove. Cincinnati Chicago & St. L . 9,938,597 14,688,938 +4,750,341 Atlanta ScGreat
+394,353
West Point_____________
647,348
252,995
1,846,859
+617,892
Cumberland Valley_______________ 1,228,967
d584,761
— 942,819
358,058
2,446,556 — 4,963,014 Atlanta Birmingham Sc Atlantic____
Delawaro & Hudson_______________ 7,409,600
+ 1,445.213
+262,179 Atlantic Coast Lino_______________ 10,180,915 11,626.128
Delaware Lackawanna & W estern.. 15,749,477 16.011.656
+ 170,797
309,612
138,815
31,289
— 279,375 Birmingham Southern____________
Detroit & Mackinac_______________
310,664
— 486,853
1,098,306
460,195
+3,683 Carolina Clinchfield & Ohio_______ 1,585,159
Detroit & Toledo Shore Line_______
456,512
+454,436
3,450,903
Central
of
Georgia________________
3,905,339
d722,551
— 932,720
Detroit Toledo & Ironton_________
210,169
548,532
466,921
+81,611
d385,023
— 512,243 Charleston Sc Western Carolina____
East St. Louis Connecting R y _____
127,220
+3,815,422
Chesapeake*
Ohio________________
17,042,405
13,226,983
4,717,973 +1,855,796
Elgin Joliet & Eastern_____________ 2,862,177
— 493,094
New Orl. & Texas P a c .. 3,541,040
3,047,946
E rie..................
15,503,939 dl ,079,618 — 16,583,557 Cincinnati
(h01.622
282,323
— 383,845
321,183
— 38,400 Coal & C oke.a___________________
Fonda Johnstown & Gloverstown..
359,583
1,601,838 — 1,241,004
247,581
— 681,804 Florida East Coast________________ 2,842,842
Grand Rapids & Indiana__________
929,385
858,622
R R . Lessee Organization..
2,246,569 +1,387,947
Grand Trunk Lines in New England
d4,271 dl ,088,669 — 1,084,398 Georgia
347,861
511,457
— 163,596
188,792 — 1,166,049 Georgia Southern & Florida_______
Grand Trunk Western____________
1,354,841
— 233,791
363,665
597,456
2,718,733
+81,566 Gulf & Ship Island________________
Hocking Valley___________________ 2,637,167
— 367,178
558,338
191,160
Indiana Harbor Belt______________
296,054 dl ,603,434 — 1,899,488 Gulf Alobllo & Northern__________ 16,282,374
—
3,374.908
Illinois
Central___________________
12,907,466
1,651.579
+356,438
Kanawha * Michigan____________ 1,295,141
& Nashville______________ 17,310,495 19,367,632 +2,057.137
379,653 — 1,168,889 Lluisville
Lake Erie & Western______________ 1,548,542
+296,306
640,222
343,916
357,550
— 161,821 Louisvillo Henderson & St. Louis__ 2,578,203
Lehigh & lludson River__________
519,371
247,368 — 2,330.835
1,178,658
+42,897 Mobile & Ohio____________________
Lehigh & New England__________
1,135,761
+ 937,038
Chattanooga & St. Louis. 3,182,089
4,119,127
6,683,313 — 4,637,920 Nashville
Lohigh Valley.........................
11,321,233
— 32,491
975,440
3,891,092
+669,143 Now Orleans & Northeastern--------- 1,007,931
Long Island______________________
3,221,949
Now
Orleans
Great
Northern______
409,221
575,952
—
166,731
d595,895
—
3.551,592
Maine Central____________________
2,955,697
d76,025
— 127.568 Norfolk & Western________________ 20,534,163 18,256,481 — 2,277,682
Maryland Delaware & Virginia____
49,543
Southern_________________ 1,166,991
289,942
— 877,049
Michigan Central_________________ 8,052,127 13,606,480 +5,554,353 Norfolk
3.016,827 + 1,879,453
648,042
+64,956 Richmond Fred. & Potomac_______ 1,137,374
Monongahela_____________________
583,086
3,636,725 — 2,860,300
139,827
+106,207 Seaboard Air Line_________________ 6,497,025
Monongahela Connecting_________
33,620
18,595,980 29,291,870 + 10,695,890
215,626
+139,795 Southern_________________________
Nowburgh & South Shore_________
75,831
+35,049
d40,794
Southern
Ry.
in
Mississippi----------d75,843
Now York Central........................... 55,802,631 48,291,878 — 7,510,753 Tennesseo Central________________
— 167,479
162,734
d4,745
3,834,512 +1,615,655
Now York Chicago & St. Louis____ 2,218,857
3,247,603
1,848,259 — 1,399,344
7,534,334 — 9,332,794 Virginian________________________
Now York Now Haven & Hartford. 16,867,128
468,433
1,721,555 + 1,253,122
548,583 — 1,555,006 Washington Southern____________
Now York Ontario & Western_____ 2,103,589
+325,868
614,106
288,238
972,603
— 23,448 Western Ry. of Alabama__________
New York Philadelphia & N orfolk..
996,051
+637,638
Yazoo
&
Mississippi
Valley________
3,862,318
4,499,956
419,034
—
381,553
Now York Susquehanna & Western.
800,387
4,284,827 — 10,707,958
Pennsylvania Company___________ 14,992,785
a Returns for 1918 cover nino months to Sept. 30: road merged with
Pennsylvania Railroad____________ 51.361,262 18,317,171 — 33,044,091
3,814,052
+65,856 Baltimoro * Ohio on Oct. 1.
Pore Marquette___ . . . ____________ 3,748,196
d Indicates deficit.
8,847,389 — 7,020,912
Philadelphia* Reading___________ 15,868,331
9,839,555
+859,336
Pittsburgh & Lake Erie___________
8,980,219
130,256
— 352,561
Pittsburgh & Shawniut___________
482,817
d328,012
— 565,022
Pittsburgh & West Virginia_______
237,010
CONTRACTS E X E C U T E D A N D CO M P E N S AT IO N
Pittsburgh Cincinnati Chicago &
2,973,777 — 8,360,317
St. L o u is......................................... 11,334,094
P A Y A B L E THE RE U NDE R .
489,964
+254,266
Port Reading_____________________
235,698
35,559
— 988,324
R u t l a n d ........................................... 1,023,883
T h e Unitod States R ailroad A dm inistration as of A pril 17
125.016
— 16,144
South B uffalo.....................................
141,160
31,042
— 325,782 1919 roports tho contracts actually exocuted b y tho com
Staten Island Rapid Transit_______
356,824
738,970
— 347,681 panies and tho Diroctor-General and tho com pensation to
Toledo & Ohio Central____________ 1,086,651
1,241,182
+246,888
994,294
Toledo St. Louis & Western_______
d57,850
— 185,859 be paid thereunder to the soveral roads as shown bolow .
Ulster & Delawaro________________
128,009
1,455,665
+85,375
Union R R . Co. of Pennsylvania__ 1,370,290
3,721,029 — 2,136,713 Indentations indicate subsidiary parties to tho contract.
W abash...................
5,857.772
(1492,469 — 3,572,062
Western Maryland________________ 3,079,593
T h is com pilation covers in tho aggregate:
(1168,966 — 1,121,648
West Jersey & Seashore___________
952,682
I,
048,583— 537,454
Wheeling & Lake Erio....................... 1,586,037
62 Class I Roads
67 Contracts with total annual compensation
$528,925,383 12
(2) Western District—
2 contracts with lump sum o f___________________ $129,734 8#
1,472,292
+229,817
Arizona Eastern__________________ 1,242,475
Atchison Topeka & Sdnta Po______ 38,443,725 41,558,303 +3.114,578
Contracts Executed to April 17 1919.
244,762
+278,251
Beaumont Sour Lake & Western__
d33,489
(* Indicates Class 1 Road.)
Compensation.
1,776,749 — 1,401,566
Chicago & Alton__________________ 3,178,315
$78,375 18
Chicago & North Western_________ 23,201,016 12,441,437 — 10,759,579 Abilene Southern Railway Company__________________ . . .
322,854 47
Chicago Burlington* Quincy______ 33,360,683 25,016,100 — 8,344.583 Alabama & Vicksburg Railroad________ ____ _ ___ . ....... ..
. . . . ____
.42,810,310 80
21,457 — 2,931,993 ♦Atchison Topeka & Santa Fe..............._ ..
Chicago Great Western___________
2,953,450
Grand Canyon Railroad
133,513
— 783,291
916,804
Chicago Junction_________________
Kansas & Southwestern Railroad
3,643,192 — 23,511,359
Chicago Milwaukee & St. Paul_____ 27,154,551
Rio Grande El Paso & Santa Fo
d529,254
— 656,791
127,540
Chicago Peoria & St. Louis________
♦Gulf
Colorado * Santa Fe
968,722
—
2.790
Chicago Rock Island & Gulf_______
971,512
♦Panhandle & Santa Fo
8,211,683 — 6,700,696
Chicago Rock Isiand Sc Pacific_____14,9i2,379
2,624,720 — 2,310,070 ♦Atlantic Coast Lino Railroad_____________ ___________ _ 10,185,942 34
Chicago St. Paul M . & Omaha___
4,934,790
Washington & Van Domero
2,941,746
+460,534
Colorado Southern___________
2,48l,212
Tampa Southern
5,434,321 — 2.885,056
Denver * Rio Grande____________
8,319,377
22,587 01
(1961,458 — 1,314,748 Augusta Southern Railway_______________________ __ ____
Denver & Salt Lake_______________
353,290
----- 1,575,171 64
3,803,620 +1,448,378 ♦Bangor & Aroostook Railroad________ — . . . . . .
Duluth & Iron Rango______________ 2,355,242
Van Buren Bridge Co.
Duluth Missabe & Northern_______ 5,122,051 12,465,248 +7.343,197
.
___ —
34,522 86
263,948
— 330,689 Birmingham & Northwestern Railw ay..
Duluth South Shoro & Atlantic___
594,637
. . . . . . . . . 3,276,410 42
4,936,392
+791.290 ♦Buffalo Rochester & Pittsburgh Railway. .. .
El Paso * Southwestern__________ 4,145,102
....
. . . 1,468,123 63
186,732
+104,538 ♦Central New England Railway__________ _
Port Smith & Western____________
82,194
1,745,880
— 145,506 ♦Central of Georgia Railroad_________________ _____ _____ _ 3,444,158 64
Port Worth Sc Denver C ity________ 1,891,386
Wadley Southern
(161,592
— 62,893
Port Worth & Rio Grande_________
1,301
Sylvania Contral
5,347,757 +2,117,112
Galveston Harrisburg & San Anton. 3,230,645
466,921 15
227,315
— 298,755 ♦Charleston & Western Carolina Railway--------------------------Galveston Wharf__________________
526,070
♦Chicago & North Western Railway Company-------------------23,364,028 55
978,791 — 16.687,890
Great Northern__ .________________ 28,666,681 I I ,
Missouri Valley & Blair Railway & Bridge Co.
2,824,146
— 4.072
Gulf Colorado & Santa Po_________ 2,828,218
Pierre & Fort Pierre Bridge & Railway Company
2,286,307
+568,801
Houston & Texas Contral.............
1,717,506
Pierre Rapid City & Northwestern
'
404.017
+28,451
Houston East Sc West Toxas_______
375,566
W olf River Valley
1,372,281
— 22,665
International Sc Great Northern____ 1,394,946
Wyoming & Northwestern
/d334,318
— 22.665
Kansas City Mexico & Orient_____1
9,073
Kansas City Mex. & Or. o f T exas.. J
14361,631
— 704,922 ♦Chicago Burlington & Quincy Railroad Company------------ 33,390,079 61
Black Hill & Fort PIcrro
2.'82,977
— 423,721
Kansas City Southern____________
3,216,698
Deadwood Central
2,181,424
+185,782
Kansas City Terminal____________
1,998,642
Quincy Omaha & Kansas City
2.746,635
— 673,782
Los Angeles & Salt Lake__________ 3,420.417
A p r ., 1919.]
RAILWAY AND INDUSTRIAL SECTION
Com position.
♦Chicago Milwaukee & St. Paul Railway Company________ 27,916,771 45
Tacoma Eastern Railroad Company
Bellingham & Northern Railway Company
Seattlo Port Angeles ft Western Railway Company
Milwaukee Terminal Railway Company
Puget Sound ft Wlllapa Harbor Railway Company
Gallatin Valley Railway Company
Chicago Junction Railway_________________________________
916,801 03
Chicago River ft Indiana Railroad Company_______________
1OS,525 82
♦Chicago St. Paxil Minneapolis & Omaha R y _______________ 4,934,789 51
♦Cincinnati Northern Railroad____________________________
317,628 01
♦Cleveland Cincinnati Chicago & St. Louis_________________ 9,945,738 41
Muncie Belt Railway
♦Colorado ft Southern___________________________________
2,833,578 93
♦Wichita Valley
Cumberland & Pennsylvania Railroad______________________
255,692 10
♦Detroit & Mackinac Railway Company__________________
310,664 04
Detroit Bay City ft Western_________________
85,967 31
Detroit Terminal Railroad_________________________________
186,460 40
♦Fort Worth & Denver City Railway Company_____________ 1,891,386 40
Galveston Wharf Company_________________________________
526,069 92
Georgia & Florida Railway________
88,000 00
Georgia Florida ft Alabama Railway_______________________
57,637 73
♦Georgia Railroad________________________________________
858,662 42
♦Grand Rapids & Indiana__________________________________
929,385 42
♦Great Northern Railway__________________________________ 28,771,360 78
Duluth & Superior Bridge
Duluth Terminal
.
Great Falls & Teton County
Great Northern Equipment Company
Great Northern Terminal
Minneapolis Western
•
Minneapolis Belt
Montana Eastern
Watertown & Sioux Falls
Gulf Texas & Western Railway___ ,._______________ (lump sum) 29,734 80
Indiana Harbor Belt______________________________________
296,053 57
♦Kansas City Mexico ft Orient Railroad___________________
150,000 00
♦The Kansas City Mexico & Orient Ry. Co. of Texas
Lake Erie ft Eastern______________________________________
127,081 06
♦Lako Erio ft Western_____________________________________ 1,548,541 69
♦Lehigh ft Hudson River Railway_________________________
519,371 13
♦Lehigh Valley Railroad.............................................................. 11,321,233 25
♦Los Angeles ft Salt Railroad_____________________________ 3,414,751 10
♦Louisville & Nashville Railroad__________________________17,310,494 67
♦Louisville Henderson & St. Louis Railway_______________
343,915 53
41,689 33
Louisiana ft Mississippi Railroad & Transfer C o __________
Memphis Dallas ft Gulf Railroad__________________________
28,295 70
♦Michigan Central Railroad______________________________ 8,105,727 04
Chicago Kalamazoo & Saginaw
♦Minnesota & International Railway Company------------------202,455 24
♦Missouri ft North Arkansas______________________________
175,000 00
♦Nashville Chattanooga ft St. Louis Railroad------------------- 3,182,089 03
Now England Steamship Company------------------------------------ 1,0.50,753 33
The Hartford ft New York Transportation Company
New Bedford Martha’s Vineyard ft Nantucket SS. Co.
♦New York Central Railroad----------------------------------------------58,122,084 92
Kanawha & West Virginia
.
Zanesville ft Western
*Kanawha ft Michigan
♦Toledo & Ohio Central
♦New York Ontario & Western------------------------------------------- 2,103,589 41
♦Norfolk ft Western Railway---------:.........................................20,640,899 98
• New River Holston ft Western
Tug River ft Kentucky
•
Virginla-Carolina Railway
Williamson ft Pond Creek
♦Northern Pacific R ailw ay..........................................................30,130,068 81
Big Fork ft International Falls
Gilmoro ft Pittsburgh
7
Compensation ■
♦Pennsylvania Lines (W est)_______________________________ 15,154,719 61
Wheeling Terminal Railway
Cincinnati Lebanon & Northern
Ohio It ivert ft Western
Manufacturers Railway
♦Pennsylvania Railroad_______________________________________53,603,42758
Baltimore ft Sparrow’s Point Railroad
♦Cumberland Valley
♦New York Philadelphia & Norfolk
Union Railroad Company of Baltimore
Barnegat Railroad
Philadelphia & Beach Haven
Rosslyn Connecting Railroad
♦Pittsburgh ft Lake Erie Railroad____________________________ 8,980,21940
Port Huron Southern Railroad_______________________________
11,02578
♦Richmond Fredericksburg & Potomac_______________________ 1,137,37375
♦Rutland Railroad___________________________________________ 1,023,88300
Salina Northern Railroad__________________ ________________
15,000 00
♦St. Joseph & Grand Island Railway Company______________
373,81111
St. Paul Bridge ft Terminal Railway Company_______________
67,50940
♦Southern Pacific_________
47,559,988 91
♦Arizona Eastern
♦Houston & Texas Central
♦Galveston Harrisburg & San Antonio
♦Texas & New Orleans
Houston ft Shreveport
Houston East ft West Texas
♦Morgan’s Louisiana & Texas Railroad ft Steamship C*.
♦Louisiana Western
Lake Charles ft Northern
Iberia & Vermilion
Trinity ft Brazos Valley______________________ (lump sum)
100,000 00
Union Freight Railroad Company_________________________
32,009 69
♦Union Pacific Railroad...............................................................38,416,110 79
♦Oregon Short Line
♦Oregon & Washington Railway & Navigation Co.
Des Chutes Railway
Croon River Water Company
Rattlesnake Water Company
Union Pacific Water Company
♦Washington Southern_________________ _______________ ___
468,432 81
♦Western Railway of Alabama_____________________________
288,237 55
Winston-Salem Southbound Railway_______________________
260,251 62
S h o r t-lin e c o n t r a c t s u n d e r w h ic h n o c o m p e n s a t io n is
p a y a b le h a v e b e e n e x e c u t e d Avitli th e fo llo w in g c o m p a n ie s :
•Short-Line Contracts (Co-operative) in Force April 17 i919.
Oneida & Western
Alabama Florida & Gulf
Alabama & Northwestern
Paris ft M t. Pleasant
Pecos Valley Southern
Atlantic Northern
Pittsburgh Lisbon & Western
Augusta Northern
Rockingham Railroad
Coudersport ft Port Allegheny
Randolph ft Cumberland
Cumberland & Manchester
Rock Island Southern
Delaware ft Northern
Rome ft Northern
East Carolina
St. Louis Kennett & Southeastern
East Jordan & Southern
Georgia Northern
South Georgia RR.
South Manchester
Green County (Ga.)
Ironton RR.
Tennessee Railroad
Ursina & North Fork
Kalamazoo Lake Shore & Chicago
Valdosta Moultrie ft Wcstern
LaCrosse ft Southeastern
Manchester ft Oneida
Virginia Blue Ridge
Waycross & Southern
Marianna & Blountstown
Western Allegheny
Maryland & Pennsylvania
Wildwood & Delaware Bay Shore
Midland Railway (Ga.)
Line
Montana Wyoming ft Southern
Williamsport & North Branch
Morehead & North Fork
New Orleans Natalbany ft Natchez White River Railroad (Vt.)
ABBREVIATIONS USED IN THIS SECTION
Note.— Railroad lines owned, controlled or operated under contract by companies whoso titles in the text are marked " ★ ’ ’ were under the U. S. R R .
Administration (either directly or as dependencies or leased lines of larger companies) at latest advices, but in some cases subject to change. Those
marked ‘ ‘A " were under private control. Lines not marked are foreign lines or have a status not ascertained or doubtful.
EXPLANATORY.— This Supplement is expressly intended for use in connection with the investment news and official reports published from week to
week in the “ Chronicle.” Frequent reference Is made therefore to tho volume and page of the “ Chronicle” (as V. 106, p. 000), where fuller information
may be found. Following each statement also Is given a reference to the latest news item In the “ Chronicle" respecting the company. As every such
Item has appended a reference to the last preceding item, the reader can run back at pleasure. Annual reports are In black-faced figures.
Index.— Any company not in regular alphabetical order may be found by means of the index, on another page, to roads leased and consolidated.
D i v i d e n d s . — Tho d i v i d e n d s (“ divs.” ) in tho text are in general those actually p a i d during the calendar years named, irrespective of when e a r n e d .
Net Earnings are given after deducting operating expenses and frequently taxes, but not interest or other fixed charges.
Securities.— These are described in table at head of page.(except tho stock, for lack of space, sometimes only in text below) as follows:
Miles of R o a d . — Opposite bonds, this means the miles o f road owned covered by the mortgage.
Size or Par Value.— Shows (In dollars unless otherwise marked), the denominations or par value, “ 100, & c.,“ signifying $100 and larger.
Rate Per Cent.— The interest and dividend rate per annum is here shown; g, gold: cur, currency; x, extra; s, stock or scrip.
When Payable.— J ft J stands for January and July: F & A, February and August: M ft S, March and September; A ft O, April and October; M & N,
M ay and November; J & D , Juno and December; Q-J, quarterly from January; Q-F, quarterly from February; Q-M, quarterly from March.
B o n d s , P r i n c i p a l When D u e , Ac.—;Thls column shows for bonds the date when they mature; for stocks the amount and date of the la s t dividend.
Other Abbreviations: M for "mortgago” ; Gen M for “ general mortgago” ; Con M or consol M for "Consolidated mortgage’ !; Inc M for “ Income mortgage";
g for "gold "; c or cur for “ currency"; guar p & ifo r “ guaranteed principal and interest” ; cum for “ cumulative” ; non-cum for “ non-cumulative” ; conv
for “ convertible into stock at holder’s option” ; prof for “ preferred” ; pref a & d for “ preferred as to assets and dividends” ; s f for “ sinking fund”
lgr for “ land grant” ; r “ fully registered (no copuons)” ; c "coupon” ; c* “ coupon, but may bo registered as to principal” ; r* “ registered" and “ coupon"
Interchangeable; br "branch” ; end “ endorsed” ; red "redeemable” ; dr'n or drawn; by lot call, "subject to call” ; p m "per mile"; ass'd, "assumed."
T a x e s . — Tho position as regards deductions for taxes (deductible at source) is indicated in the table as follows: “ x " Tho bonds so marked contain the
broad tax-exemption clause that tho company will pay tho interest thereon without deduction for any tax. The Federal Acts approved Oct. 3 1917
and Feb. 24 1919 provido, however, that only ono normal 2% income tax shall be deducted at the source and that all further Federal income taxes
shall bo met by tho recipient o f tho income. See V. 108, p. 521. x x “ Company was paying at last advices so much of the normal income tax as com
pany Is required to deduct as withholding agent (V. 104, p. 699). xxx "Free from U. S. income tax up to 2% , deductible at source.” xxxx "Free
from U. S. income tax up to 4% , deductible at source." y “ Free from taxes except Federal income tax.” yy “ Free from all taxes except Federal
and State income tax.” z “ No provision as to exemption from taxes.” zz “ Payable with deduction of Federal Income tax.” k “ Free from
Pennsylvania State tax.” kk “ Free from Now York State tax.” v “ Free from U. S. taxes, deductible at source.”
tv “ Payable without deduction
for taxes, except succession, inheritance and income taxes.” tvv Payable without deduction for Federal, State, &c., taxes deductible at source other
than Federal 2% income tax. vv v v Same with tho exception also of inheritance taxes.
Mortgage Trustees and Stock Transfer Agonts (TR Treasurer’s Office) are indicated thus:
NEW YORK CITY—
ST. LOUIS—
LOUISVILLE—
MBa — Maryland Trust Co 1C — Illinois Trust ft SavBk
Bn — Bankers Trust Co
MeBa— Mercantile Tr ft Dep MC — Merchants' Loan ft Tr FL — Fidelity ft Coiumt Tr Am St— American Tr Co
Cc — Central Union Trust SBa — Safe Dep ft Trust Co NC — Northern Trust Co
LL — Louisville Trust Co
MeSt — Mercantile Trust Co
Co
MSt — Mississippi Valley Ti
PC — Peoples T r ft Sav Bank
NEWARK, N J—
BOSTON—
Col — Columbia Trust Co
SSt — St Louis Union Trust
FN — Fidelity Trust Co
SC — Standard Trust Co
AB — American Trust Co
Em — Empire Trust Co
NEW ORLEANS—
PHILADELPHIA—
UC — Union Trust Co
BB
—
Boston
Safe
Dep
ft
Tr
Eq — Equitable Trust C o
CP — Commercial Trust Co
H No — Hibernia Bk & Tr Co
CB
—
Commonwealth
Tr
Co
CINCINNATI—
P
— Farmers’ Ixmn ft Tr FB — Federal Trust Co
WNo—
Whitney
Central
Tr
&
FP
— Fidelity Trust Co
UCi— Union Sav Bank ft Tr
Fr — Franklin Trust Co
GP — Girard Trust Co
Sav Bank
CLEVELAND—
FIB — Fidelity Trust Co
G — Guaranty Trust C o
GuP— Guaranty Tr ft 8 Dep
PITTSBURGH—
CCI
—
Citizens'
Sav
ft
Tr
Co
IB
—
International
Tr
Co
Me — M e r c a n t il e T r u s t ft NB — New England Tr Co
LoP — Logan Trust Co
Cl Pi —Colonial Trust Co
CICI—Cleveland Trust Co
D e p o s it C o
Tr Co MP — M erchantsUnTrCo
FCI — First Trust ft Sav Bk CwPI—Commonwealth
— Old Colony Trust Co
Mp — Metropolitan Trust Co OB
Philadelphia Trust Cc
DPi
—
Dollar
Sav
ft
T
r
Co
SB — State Street Trust Co GCI — Guardian S Bk ft Tr FPI — Fidelity Title ft Trust PhP—
N — Now York Trust Co
PIP — Provident Life & Trust
DETROIT—
T
—Title Guar ft Trust Co UB — United States Trust Co
PeP — Penn Co for Insur on
PPI — Pittsburgh Trust Co
DD — Detroit Trust Co
0 * — United States Trust
Lives ft Gr Annuities
R Pi — Real Estate Tr Co
„ CHICAGO
Usm—U S Mtgo ft Trust Co C eC — Central Trust Co o f 111 SD — Security Trust Co
SP1 — Safe Deposit ft Tr Co RP — Real Estate T ft 1 Co
UPI — Union 'm ist Co
WP — West End Tr&S D Co
ChC— Chicago 8av Ilk ft Tr UD — Union Trust Co
BALTIMORE—
SAN FRANCISCO—
INDIANAPOLIS—
PORTLAND, ME —
CC — Continental ft Com
BBa — Baltimore Trust Co
AS — Anglo California Tr Co
F P o— Fidelity Trust Co
mercial Tr ft Sav Bank Ul — Union Trust Co
CoBa—Continental Tr Co
MS ■—Mercantile Trust Co.
LOS ANGELES, CAL—
PROVIDENCE—
FC — First Trust ft Sav Bk
EBa — Equitable Trust Co HC — Harris Tr ft Sav Bank LLo — Los Angeles Tr & Sav IPr — Industrial Trust Co
US — Union Trust Co
FBa — Fidelity Trust Co
WILMINGTON. DEL.
RPr — RhodelslHospTrCo
Bank
FoC— Fort Dearborn Tr ft
WW— Wilmington Tr Co
SLo — Security Tr & Sav Bk U P r— Union Trust Co
Sav Bank
★ Government
Control.
RAILROAD COMPANIES
APrivnte
Control.
Subscriber! will confer a favor by giving Immediate notice of any error discovered In these tables.
RAILROAD COMPANIES.
For abbreviations, &c., see notes on first page]
Adirondack Ry—See Delaware & Hudson Co.
Akron & Barb Belt— 1st M g s fd calls 105- Usmx.o**r
Akron Can & Young— 1st M $1,500,000 g call 105 C1CI
Alabama (Jreat Southern— Ordinary stock__________
Prsferred stook 0% and participating $4,000,000 . .
First M gold ext In 1908 (V 85. p 1045, 1460)..F z .c
General mortgage £1.160.000_______________Cez.c
First Consol M $25,000,000 gold________ Q.zc*r*
Equip trust Ser D. due $50,000 s-a (V 88. p 1559)x
do
do Series E due $55,000 s-a g __________
Alabama /Midland— See Atlantln Coast Dine HR
Alabama Tenn & Northern RR (new company)—
Alabama Tennessee & N orthern Ry—
Common stock, $2,500,000 vtc________ __________
Prefstock6% $1,70u,060 cum after Jan. 1 1924___
Prior lien M , $3,500,000 g call 10244.............Mpxxx
Gen (2d) M $2,116,001' g call 105; Incomes 5 yrs _Co
Alabama & Vicksburg— Stook /see text)___ ______
VIokab Sc Meridian IstM gs fd (V . 105,1892).F.xo
Alabama & Vicksburg Cons IstM $1,800,000.Ce z.c
2d M orlg $700,000 g (1st M on land)______Cex.o
Albany & N orthern— See Georgia Southw Sc Gulf
Albany Pass Term Co— 1st M 5% 50-yr gold bonds
Albany & Susq—Stoou , dividends guar by D A H (enui
1st M $10,000,000 g gu o & I conv(text) Usmx.o*Ar
Albany & Vermont— Stock 3% guaranteed by rental
Miles Date
Road Bonds
1902
1910
1878
290 1888
1913
1909
1916
1918
1918
148
143 1881
143 1889
143 1889
Par
Value
100
100
100 &c
100
1,000
100 Ac
100 Ac
When
Payable
&
A
A
5
12 X
344 S
3
M
J
A
M
Sc
&
&
Sc
Last Dividend Places Where Interest and
and Maturity
Dividends are Payable
D Juno 1 1942
J July 1 1930
D Jan 31 T9, 4%
Feb 21 T9 4%
Deo 11927
Deo 1 1927
Dec 1 1943
July 1 1919
Jne '19-June'26
2.500.000
1.700.000
850.000
6 g* J & J
2.116.000 Up to 6
2,100,000 7 in 1918 Seml-an
942.000
A & o
6g
A & O
580,800
5g
416,100
A & O
5g
100.000
100 3,500.000
142 1406 1.000 Ac 10,000,000
100
12
600,000
A AKRON CANTON & YOUNGSTOWN R Y — See page 208.
AALABAM A FLORIDA & GULF R R .— Operating in Jan. 1918 from
Cowarts, Ga.. on Atlantic Coast Lino R R . south to Greenwood, 32 miles.
Pres., W . S. Wilson, Malone. Fla.
★ ALABAMA GREAT SOUTHERN R R .— Owns Chattanooga, Tenn., to
Meridian, Miss.. 293 miles (about 30% double-tracked); leases Belt Ry..
Chattanooga, 1.62 m.; owns 50% int. YVoosdtock & Blocton liy ., 8 in.;
trackage, 10 m.; total operated, 312 miles.
ORGANIZATION.— Controlled by Southern R y., but operated Inde
pendently. V. 81. p. 1722; V. 82, p. 159. Owns $975,100 stock of S. W.
Construction Co. received for $833,300 Chi. New Orl. & Tex. Pac. stock.
“ ADVANCES” AN D “ STANDARD R E T U R N ,” & c — Seo page 5.
_ LATE Dl VS. '05 to '08 09. TO. T 1 to T5. T6.
1917.
1918.1919.
Com. s t o c k ...
0
2
444 5 yrly.
7 5&2ext.
3,
text
Pref. s t o c k ... 6 yearly 6
6
6 yrly.
7 6& lext. 344.3 text
In 1918 paid on common in Juno, 3% ; then none till 4% was distributed
JAn-31 1919. In 1918 on pref. in Fob., 3% and 144% extra, and in Aug.,
3% (no oxtra); in 1919, Feb. 21, 4 % . V. 108, p. 169.
-B O N D S .—The First Consols ($25,000,000) are Issuable in lottered series,
$5,223,500 reserved to rofund 1st 5s and Gen. 5s. $8,150,000 for second
track, at, say, $30,000 per mile; the remaining $7,313,.500 for Improvements
at not over $500,000 yearly. V. 97. p. 1285, 1582, 1820; V. 98, p. 72, 1534,
Equip, trust 1916, V. 102, p. 1539; V. 104, p. 1044; V. 105, p. 1704.
EARNINGS.— 12 m os.,(1918..Gross, $9,296,635;net(beforo$2,193,120
Jan. 1 to Dec. 31. \1917-.Gross, 7,151,055; taxes),
2,416,645
R EPO RT.— Year ending Dec. 31 1917, In V. 107, p. 2286:
Operating Net(after Other Interest, Pref.
Com.
Balance,
Cal.
Revenue.
Taxes). Income. Rents, Ac. Dio.
Dio.
Surplus.
Years.
$
$
$
$
$
$
$
1917--7,151,055 1,894,177 719,608 711,852 a236,625 b352,350 1,312,957
1910 5,987,828 1,961,177 537,182 640,725 c253,526 d234,900 1,369,208
a 7% .
4 44 % - c 7 44 % . d 3% .
Federal M gr., E. II. Coapman, Washington, D. C.— (V. 108, p. 169.)
A ALABAMA TENNESSEE & NORTHERN R Y.— Operates from Mobilo,
Ala., on Gulf of Mexico, where extensivo terminals are owned, to Reform,
Ala., on the Mobile Sc Ohio, about 225 miles, Incl. 25 miles of trackage.
ORGANIZATION.'— Incorporated in Alabama Oct. 12 1918 as successor
®* ®he A . T . & N . Railway, foreclosed and reorganized per plan in V. 106,
p. 2558; V. 107, p. 290, 400, 1286, 1579. Status and history in June 1918,
seo V. 106, p. 2558.
NEW SECURITIES.— Tho new stock and bonds Issued and Issuable In
accordance with tho aforesaid plan (formulated by committee headed by
George C. Van Tuyl Jr., President o f the Metropolitan Trust Co. of N. Y .
City) provided for the issuanco o f the new securities shown in the table above.
°.n|y fixC(1 charge for tho first 5 years are to bo the $850,
000 6% Prior Lien bonds, which were issued to provide for tho cash require
ments of the plan. These included the retirement of $118,000 Blakely
Island Vendor lions, tho adjustment of $400,000 debts to banks and others,
the paymont o f the first defaulted coupon ou the four old bond issues, of
reorganization expenses, &c. Subscriptions wero obtained to all of theso
$850,000 Prior Lien bonds at not less than 90 with a bonus o f 15% In Gen.
Mtge. bonds.
Of the remainder o f tho $3,500,000 Prior Lien Issue $100,000 is to bo
available for future corporate needs, $1,400,000 will bo reserved for use
under restrictions in extending the line northly 50 miles to Reform, Ala.,
on tho St. Louls-San Francisco Ry. and southerly to Mobile with necessary
improvements and tho final $1,150,000 will bo restricted to future ad
ditions, improvements and extensions and the refunding of equipment
obligations, now or old. The new common stock is held in a voting
trust, with George O. Van Tuyi Jr., Louis V. Bright, George E. Warren,
Janies C. Colgate, John T . Cochrano and II. A. Smith as voting trustees.
EARNINGS.— For year ending Juno 30 1916, gross, $513,003; not,
$102,470. For cal. year 1917, gross, $584,763; net, after taxes, $134,101.
Pres., John T . Cochrano; Treas., K. R. Guthrie; Sec., E. A. Carstons,
Office, Mobile, Ala.— (V. 107, p. 1286,1579.)
★ ALABAMA & VICKSBURG R Y.— Owns Vicksburg to Meridian, Miss.,
and branch, 141 miles. Controlled by Sterling Trust Co. of London,
formerly known as tho Alabama New Orl. Texas & Pac. (see this Section
for Feb. 1917 and "Chronicle” V. 104, p. 1263, 663. Government contract
as signed fixes compensation at $322,854; company’s other income for 1918,
$43,664; total, $366,518. Deduct: interest, $106,364; corporate expenses,
$34,815; war taxes, $34,175; items prior to 1918 (not). $571: dividends,
$147,000, and sinking fund, $33,765; bal., sur., $9,828. V. 108, p. 876.
DIVIDENDS.— 1890 to 1892, 3% yearly; 1896, 3% ; 1897 to 1899, 6%;
1900 to 1902, 6% yearly: 1903, 9% ; 1904 to 1914. 7% yearly; 1915, 5%
1916, 1917 and 1918. 7% . In 1919, April 22, 344%- Stock divs. 50%
in 1900 and 100% in 1910.
Rate
$1,000
$976,000
4g
1.500.000
100
6g
50 7.830.000 Seo text
60 3.380,350 7 in 1918
1.000
1.749.000 6 (6) g
£100
£714.700
5g
, £ Sc fr $4,312,000
5g
1,000
50.000
4 44
1,000
825.000
444 g
★ AKRON & BARBERTON BELT RR.— Belt lino at Barberton, ()., and
Fab-lawn to Akron, O.; total. 23.1 m. Stook, $100,000. owned equally
by the Cleveland Akron A Cincinnati, Balt. A Ohio, Erie R R . and Northern
Ohio Ry. Bonds auth.. $1,500,000- Issued, $1,240,000: $264,000 redeemed
by sinking fund: $260,000 for future needs. Results for 1918: Annual Govt,
compensation, $30,104; other income, $831. Federal M gr., G. L. Peck,
Pittsburg, Pa.— (V. 105, p. 71.)
b
Amount
Outstanding
U S Mtge A Tr Co. N Y
Cleveland Trust Co
Checks mailed
do
do
Farm L A T r .N Y: A B
Morgan .Grenf&Co ,Lon
Guaranty Trust Co, N Y
Empire Trust Co, N Y
Guaranty Trust Co, N Y
July 1 1948
New York
Oct 1 1948
Apr 22’ 19 344% Central Trust Co, N i
Apr 11921
do
do
Apr l 1921
do
do
Apr 11921
do
do
Sept 1962
See text
Apr l 1916
N o v 1 5 1 9 1 8 144
CIt & So Bk, Savannah
Del A Hudson Co, N Y
do
do
T ro y ,N Y
BONDS.— Consols aro held to retiro V. & M . firsts, V. & M . sinking
rund, $353,551. V. 105, p. 1892.
LATEST EARNINGS.— /1918-Gross, $2,470,856; net (before $425,738
12 mos., Jan. 1 to Dec. 31.11917.Gross, 2,139.316: taxes),
638,074
REPORT.— For fiscal year end. Dec. 31 1917. V, 106, p. 2644.
Calendar
Gross
Net after
Other
Interest, Dividends Balance,
Years— Earnings. Taxes.
Income. Rents,A c.
Paid. Surplus.
$186,285 $122,860 $147,000 $355,802
1917----- $2,139,316 $439,370
1 9 1 6 .... 1,818,133 360,908
214,316
125.726
147,000 302.498
Fed. M gr., E. II. Coapman, Washington, D. C.— (V. 108, p. 876.)
ALASKA GOVERNA1ENT R O A D — (V. 108, p. 169.)
★ ALBANY (GA.) PASSENGER TERMINAL CO.— Property used by
Atlantic Coast Lino RR. C o., Central of Georgia Ry. C o., Seaboard Air
Line R y., Georgia Northorn R y. and Georgia Southwestern Sc Gulf R R .
★ ALBANY & SUSQUEHANNA RR.— (See Map Delaware A Hudson.)
ROAD.— Owns Albany to Binghamton, N. Y ., 142 miles.
LEASED for term of charter, viz., 150 years from April 19 1851, to Del. *
Hudson Co.; rontal was 9% per annum on stock (444% J.& J.), V. 56, p.
774), but the courts having Held that the stock was entitled to the benefit
of refunding effected In 1906, $120,750 additional rental is paid In Jan.
yearly, beginning 1910, making 3.45% available for extra dividends on
stock; Jan. 1914 to Jan. 1918 20 cents was deducted yearly for co’s. Federal
Income tax. A special dividend of 30% ($1,050,000) was paid Nov. 16
1909 from the proceeds of the judgment for back rentals due by reason of
refunding. A special dividend of 3.25% was paid Jan. 10 1916 and again
Jan. 6 1917 and Jan. 5 1918, but action on special paymont was deferred In
Dec. 1918, owing to uncertainty at that timo as to Federal taxation
V. 107, p. 2374; V. 89, p. 1141, 1666; V. 90, p. 913.
BONDS.— Tbe bonds aro guar. p. Sc L, aud until April l 1910 convertible
Into D. Sc H. stock—$500 stock for $1,000 bonds; $3,556,000 wero so con
verted ($3,500,000 pledged by D . & H.; V. 105, p. 389). V. 80, p. 1174,
1362. 2343. Guaranty, V. 82. p. 989.
Arthur W . Butler, Pres.; George Welwood Murray, V.-P.; W. L. M .
Phelps, Sec. & Treas.; C. F. Coanoy, Asst. Sec. & Asst. Treas.— (V. 97. p.
1820; V. 106, p. 817; V. 107, p. 2374.)
★ ALBANY & VERMONT R R .— Owns road from Albany to Waterford
Jet., N. Y ., 12 m. Leased to Rensselaer & Saratoga in 1860 and now operby Del. & Hudson Co. Annual rental, $20,000.— (V. 106, p. 923.)
AALG OM A CENTRAL & HUDSON BAY R Y .— Owns from Sault Ste.
Marie, Ont., and Mlchlpicoten Harbor to a connection with the Can. North
ern R y., 272 miles: branch to Helen Mine, 12 m.; extension to Hearst on
Grand Trunk Pacific R y., 50 m; total, 334 miles. Cash subsidy, $6,400
per mile. LanU grant, 2,137,144 acres (In Nov. 1916 about 2,000,000 acres
remained. V. 103, p. 2076). V. 99, p. 1671; V. 101, p. 772.
Owns stock and leases for 999 years Algoma Central Terminals, Ltd.,
with bonds secured on terminal properties and on $900,000 1st M . 5%
bonds and $99,300 stock of Algoma Eastern Terminals, Ltd. V. 95, p.
1540; V. 96, p. 651, 1020, 1491; V. 99, p. 268, 536; V. 100, p. 732; V. 104,
p. 1700: V. 105. p. 71.
PLAN.— In 1916 a reorganization plan (V. 102, p. 885, 1058, 2076:
V. 103. p. 843; V. 104, p. 1700, 2341; V. 105, p. 908), was put into effect.
Under this plan a committee including C. B. N. Smlth-Bingham and
J. O. Dalton, for the Railway bonds, and A. F. P. Roger and Andrew
Williamson for tho Terminals bonds, vote tho common stock of both cos
Tho interest on tho Railway 1st M . from Juno 1 1914, and interest and
sinking fund on tho Terminals bonds to bo paid only if and to tho extent
that the Joint net earnings available for tho purposo porniit (except as indi
cated below), but the interest to be cumulative up to 5% , with right to
8% per annum, if earned. In the following priority (a) Terminals bonds for
current and all prior years 3% p. a., said paymont, hovvover, to bo a fixod
obligation for each year after Aug. 1 1921. (6) Both issues pari passu
as though one issue, 2% . (c) Railway bouds, 3 % . (d) Any arrears up to
5% on either issue, (e) Terminals sinking fund. (/) Railway bonds, 1 %
and Terminals bonds, 44 of 1%. While the guaranty of tho Lake Superior
Corporation remains, tho committee alono can onforco it. V. 105, p. 1998.
Holders of the 5% bonds of Algoma Central Terminals received in April
1917,3% for tho year to Aug. 1915; April 30 1918 of Interest at 3% per ann
for period from Aug. 1 1915 to June 30 1917; and on Nov. 1 1918 5% for
Year 1917-1918. Railway 5s Nov. 1 1918 received 2% . V. 107, p. 1669.
Stock, common. $5,000,000, all owned by Lake Superior Corp.; pref., 5%
non-cum., $5,000,000, Including $3,000,000 now pref., roprosonted by
v. t. c. Tho pref. shares have a par valuo of $40 each. V. 105, p. 71. 1st
M . bonds, seo V. 91, p. 93, 1159, 1327, 1573. Equipment bonds, V. 92,
p. 1635: V. 94. p. 1382: V. 106, p. 1795.
REPORT.— For year ending Juno 30 1918, &c., V. 108, p. 372, showed:
Gross receipts, including $61-1,300 from steamships, $2,005,420; net after
taxes, $342,544; interest on deposits, See., $64,930, and on bonds of Al.
East. Terminals, $45,000: mlsceL, $9,395; total, $461,800. Deduct interest
on equip, bonds, $22,650; accrued Interest on co’s bonds, $504,000, and
accrued rental A. E. Terminals C o., $249,976; balance, deficit for year,
$314,757.
June 30
Gross
Net
Net after Full Deficit after
Earnings—
Earnings.
Earnings.
Depreciation. Bond Int.
1917-18 (approx.).$2,126.708
$575,111
$441,089
$312,887
1916-17 ................. 1,795,707
417,912
281,936
472,040
1915-16 ................. 1,207,898
273,293
162,463
591,514
1915....................... 1,047,741
120.731
23,127
708.520
Pres., R. Home Smith; Sec., Alex. Taylor, Toronto; Treas J. M . Alton;
Comp., E. B. Barber, Sault Sto. Mario, Ont.— V. 108, p. 372.
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\ '
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★ Government
Control.
(F o r
abbreviations, A c., see notes on first page]
R A IL R O A D
C O M P A N IE S .
M iles
R oad
A l g o m a C St H B a y — 1 s t M | g u r e d 1 0 5 t e x t U s m . x o *
2 d M in c o m e s g $ 3 ,2 4 0 ,0 0 0 ( V 9 9 . p 5 3 8 . 1 2 1 3 ) - U s m
A l g G e n T e r m i n a l s 1 s t M g g u r d 1 0 5 _____ U s m . x c *
____
E q u i p b o n d s ( A , B , O ) , d u e p a r t a n n u a l l y r e d _____ x
A lg o m a E a st R y — M a n & N o S h 1st M g g u re d U »m o*
A q u tp b o n d s ser A & D d u o p a rt a n n th ro u g h 10 yrs
63
A l l e g h e n y A W e s t e r n — S t o c k $ 3 , 5 0 0 , 0 0 0 ) g u a r _______
F i r s t M $ 2 , 5 0 0 , 0 0 0 g o l d g u a r p A 1 ( e n d ) ____G . x o *
63
A lle g h e n y V a lle y — S e e P e n n s y lv a n ia R R
A lle n t o w n T e r m in a l— 1 st M g u a r p & 1 (e n d ) g . .C e .x o *
3
A m a d o r C e n t r a l— 1st M g o ld (2 % s f b e g a n 1 9 1 3 ) - . x x
12
A n n A r b o r — F i r s t m t g e $ 7 , 0 0 0 , 0 0 0 g o l d _____ M p . x o ~
292
I m p t a n d e x t M $ 1 0 , 0 0 0 , 0 0 0 g o l d _______________________ l
3 - y e a r n o t e s $ 1 , 0 0 0 , 0 0 0 _____________________ ; ________ m E
E q u ip b o n d s , s e r A g o l d d u e $ 3 3 ,0 0 0 s e m l- a n n .B a x
- - do
s e r B g d u e $ 3 0 ,0 0 0 s -a r e d 1 0 2 M (V 9 2 ,p 5 9 )x o
A p a la c h ic o la N o r th e r n R R — F ir s t m t g e $ 2 ,0 0 0 ,0 0 0 g - .
9 8 .6 8
A r i z o n a E a s t e r n — G i l a v a i l G1 & N 1 s t M g g u . M p . z
124
F i r s t R e f u n d i n g M s f _______________________________ F . c * A r
187
A r k a n s a s & L o u is ia n a M id la n d R y — 1st M n o tea g x
52 H
A r k & M e m R y , B d g e & T . — 1st M $ 7 ,5 0 0 ,0 0 0 g _ Q
A s h e v ille & S p a r t a n b u r g — S e e S o u t h e r n R y , C a r o lin a D lv .
____
A s h l a n d C o a l & I r o n R y . — S t o o k ____________________________
F i r s t r e f u n d i n g m o r t g a g e $ 4 0 0 , 0 0 0 g o l d _______N x
22
A t c h is o n & E a s t e r n B r id g e — 1 s t M g s f r e d a t r p a r .C e x
A tc h T o p A S a n ta F e R y — S t o c k , c o m $ 2 5 0 .0 0 0 ,0 0 0 ..
S t o c k p r e f $ 1 3 1 , 4 8 8 , 0 0 0 5 % n o n - o u m __________________
C h i c a g o S a n t a F e & C a l i f o r n i a 1 s t M g ____B B , z o * A r
439
G e n e r a l m o r t g a g e g o l d ( s e e t e x t ) __________ C e . x c ’ A r
8 .5 2 9
A d ju s t In o M c u m s in c e J u ly 1 1 9 0 0 g C e .x o * A r
8 ,5 2 9
do
do
I n t e r e s t s t a m p e d p a y a b l e M A N _______ x
8 .5 2 9
E a s t e r n O k l a h o m a D l v 1 s t M $ 1 0 , 0 0 0 , 0 0 0 g ( J .x o * A r
479
f r a n s c o n S L I s t M $ 3 0 ,0 0 0 ,0 0 0 g r e d 1 1 0 . . Q x o * A r *
1102
R o c k y M t n D l v 1st M $ 2 0 , 0 0 0 , 0 0 0 g r e d . O . y c ’ A r *
106
B o n d s c o n v e r t i b l e till J u n e 1 9 1 8 r e d ( t e x t ) G . x c * A r *
-r s A l s o in t r e a s u r y S e p t 3 0 1 9 1 8 o f " r ” $ 1 , 9 2 8 , 0 0 0
1 E x c lu d in g $ 1 2 8 ,0 0 0 In t r e a s u r y o r p le d g e d .
(w it h
D a te
B onds
1910
1914
1912
'1 1 - 1 2
1911
1898
1889
1908
1895
1911
1916
1909
1911
1905
1894
1910
1915
1911
i9 6 0
1898
1887
1895
1895
1895
1903
1908
1915
1905
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R E P O R T . — F o r y e a r e n d e d J u n e 3 0 1 9 1 8 in V . 1 0 7 , p . 9 0 2 , s h o w e d 1
G r o s s r a il w a y e a r n in g s , $ 8 7 9 ,1 5 9 ; n e t , $ 1 1 7 ,8 2 4 ( a f t e r d e d u c t i n g $ 4 3 ,7 8 3
f o r e x t r a o r d in a r y e x p e n s e s ); n e t e a r n in g s fr o m s t e a m s h ip s $ 6 6 ,4 0 6 : t o t a l
n o t . $ 1 8 4 ,2 3 0 ; in t e r e s t a n d r e n t a ls , $ 2 2 5 ,3 4 5 ; d e p r e c i a t io n , $ 8 9 ,4 9 9 ; b a la n c e
d e f ic it f o r y e a r , $ 1 3 0 ,6 1 6 .
S e e a ls o V . 1 0 8 , p . 3 7 2 .
P r e s id e n t I t . H o m o
S m it h , T o r o n t o ; S e c ., A le x . T a y l o r , T o r o n t o ; T r e a s ., E . \V. S h e ll, S a u lt
S t e . M a r i e . — ( V . 1 0 7 , p . 9 0 2 ; V . 1 0 8 , p . 372.)
.
★ A L L E G H E N Y & W E S T E R N R Y . — (S e e
P u n x s u t a w n e y t o B u tle r , P a .. 6 0 m . a n d b r , 3
A P i t t s b . , t o w h ic h le a s e d in p e r p e t u i t y f o r g u
on sto ck .
U se s B . A O . fr o m B u t le r t o N e w
t r a c k a g e a r r a n g e m e n t , m a k i n g in a l l 1 4 4 m .
M a p B u ff. R o c h . A P i t t s . ) —
m . A n e x t e n s io n o f B u ff. R o c h .
a ra n ty o f b o n d s, ta x o s a n d 0 %
C a s tle a n d P it t s b u r g h u n d e r a
V . 7 0 , p . 8 4 9 .— V . 1 0 6 , p . 6 0 0 .
★
A L L E N T O W N R R .— T o p t o n t o K u t z t o w n , P a ., 4 .3 9 m . S t o c k , $ 1 ,2 0 8 ,$ 8 4 (p a r $ 5 0 ) , in o l. $ 1 ,0 7 1 ,4 0 0 p le d g e d u n d e r R e a d in g C o . g e n .M . N o b o n d s .
★
A L L E N T O W N T E R M I N A L R R . — O w n s 2 . 9 1 m i l e s o f r a i l r o a d In A l l e n
t o w n . P a ., c o n n e c t in g t h e E a s t P e n n . (P h ila . A R e a d in g ) w ith th e C e n t , o f
V J.
L e a s e d fo r 9 9 9 y e a r s t o P h ila . A R e a d , a n d C e n t , o f N . J . ( b y a s s ig n
m e n t fr o m L e h ig h C o a l A N a v ig a t io n C o .) a t I n te re s t o n b o n d s a n d 5 % o n
$ 4 5 0 ,0 0 0 s t u c k (p a r 3 5 0 ) , a n d t a x e s , b o n d s b e in g g u a r ., p r lu . a n d I n t e r e s t ,
b y P h ila . A R e a d . R R . C o . (fo r e c lo s e d ) a n d L e h ig h C o a l A N a v ig a t io n .
A A M A D O R C E N T R A L R R . — l o n e t o M a r t e ll, C a l.. 12 m . S t o c k . $ 4 0 0 ,0 0 0 ,
p ar, $100.
M o rtg a g e , see V . 8 8 , p . 156.
Y e a r e n d in g D e c . 31 1 9 1 8 , g r o s s ,
$ 8 3 ,1 5 9 ; n o t , a ft e r t a x e s , 8 1 4 ,7 0 7 ; l n t ., r e n t a ls , A c . , $ 1 5 ,5 2 6 ; b a l ., s u r .,
$ 6 ,0 6 6 .
D iv id e n d s 1 9 1 1 -1 2 , 6 2 - 3 % . $ 2 5 ,0 0 0 fr o m a c c u m u la t e d s u r p lu s ;
1918, 1 % .
W h a t o t h e r d iv id e n d s p a id . If a n y , n o t k n o w n .
P r e s ., M e t a
J . E r i c k s o n , S a n F r a n c is c o .— ( V . 8 8 , p . 1 5 6 .)
★
A N N A R B O R R R .— O w n s fr o m T o le d o , O ., t o F r a n k f o r t .o n L a k e M ic h .,
2 9 2 m ile s ; o p e r a t e s c a r fe r r ie s b e t w e e n F r a n k f o r t , M i c h . , K e w a u n e e a n d
M a n it o w o c . W I s .. a n d M e n o m in e e a n d M a n ls t lq u e , M i c h .
W abash and
P e r e M a r q . u s e T o le d o te r m in a ls .
R a tes V . 102, p . 1162; V . 105. p . 2271.
E n tlr o c a p . s t o c k o f M a n ls tlq u e A L a k e S u p e r io r , M a n ls tlq u e , M ie n ., t o
E v o l v n , 4 2 m . ( w i t h b r a n c h . 1 3 m . ) w a s p u r c h a s e d In 1 9 1 1 . V . 9 2 . p . 1 1 0 8 .
V . 107, p . 1344, 2156; V . 106, p . 2194, 2410.
A N D
“ STA N D A R D
R E T U R N ,”
A c .— S co p a g e 5 .
S T O C K .. A c . — C o m m o n , $ 3 ,2 5 0 ,0 0 0 ; p r e f ., $ 4 ,0 0 0 ,0 0 0 : 5 %
n o n -o u m .
par $100.
P r e f. s t o c k c e r t ., se e Issu e O c t . 3 0 1 8 9 7 . p . 3 .
V . 94, p. 205.
T h e A n n A r b o r C o ., a h o ld in g c o m p a n y , h a s b e e n d is s o lv e d .
B O N D S .— I n A p r il 1 9 1 6 $ 7 5 0 ,0 0 0 6 % n o t e s w e r e I s s u e d , s e c u r e d b y d e
p o s it o f $ 1 ,5 0 0 ,0 0 0 I m p t . a n d E x t e n s io n 6 % b o n d s ( o f a n Issu e lim it e d t o
$ 1 0 , 0 0 0 , 0 0 0 ) , a n d a 2 d lie n o n r o a d , e q u i p m e n t , & c .
O n D e c . 31 1 9 1 7 ,
$ 1 1 4 , 0 0 0 o f t h e s e w e r e 1 o u t s t a n d i n g o n l y a s c o l l a t e r a l a n d $ 1 4 , 0 0 0 w e r o In
trea su ry .
V . 102, p . 1624.
A m e r . L o c o . C o . 6 s , d a t e d J a n . 1 1 9 1 7 , $ 7 3 ,
3 5 0 o u ts ta n d in g D e c . 31 1917.
E A R N I N G S . — 1 2 m o s . , / 1 9 1 8 .....................G r o s s , $ 3 , 5 8 5 , 9 0 8 ;
3 ,1 3 8 ,9 1 3 ;
Ja n . 1 to D e c. 3 1 .
( 1 9 1 7 ..................... G r o s s ,
n e t , $ 3 9 0 ,4 8 4
n o t , 7 5 4 ,0 5 4
A N N U A L
R E P O R T f o r 1 9 1 6 -1 7 w a s In V . 1 0 7 , p . 1 1 8 6 .
------------C a l .
Y e a r s -------------------------Y e a r s
e n d in g
June
3 0 ---------1917.
1916.
1 9 1 5 -1 6 .
1 9 1 4 -1 5 .
1 9 1 3 -1 4 .
G r o s s e a r n i n g s ..$ 3 .1 3 8 ,9 4 3
$ 2 ,8 0 7 ,1 2 1 $ 2 ,6 8 4 ,3 0 9 $ 2 ,3 1 0 ,9 0 2 $ 2 ,2 9 4 ,4 0 6
N e t , a fte r ta x e s 5 9 6 .4 8 7
6 6 1 ,7 6 5
6 9 3 ,6 2 2
5 1 9 ,5 5 4
4 7 3 ,0 3 8
N e t I n c o m e .............
6 3 9 ,3 9 4
7 0 0 ,5 1 6
7 2 8 .5 4 8
5 5 4 ,8 9 7
4 9 9 .7 6 1
ln t .,h ir e e q ., A c .
5 6 9 ,6 7 0
4 4 9 ,4 3 9
4 2 8 ,4 8 9
4 5 4 ,1 4 0
4 1 8 .7 6 7
B a l., s u r p l u s ..
6 9 .7 2 4
2 5 1 ,0 7 7
$ 3 0 0 ,0 6 0
$ 1 0 0 ,7 5 7
$ 8 0 ,9 9 4
D I R E C T O R S .— N e w m a n E r b , J . S . B a e h e , F .
K in g s b u r y C u r tis ,
C o l i n M a c r a e I n g e r s o l l , F e d e r a l M g r . , F . H . A l f r e d , w . J . V V o ll m a n ,
W . M . W a d d e n , a ll o f N . Y . ; F r e d e r ic k H e r t e n s t e ln , C in c i n n a t i; P r e s .,
N e w m a n E r b ; V .-P r o s .. J . S . B a c h e : V .- P . & T r e a s ., W . M . W a d d e n ;
S e c ., H . B . B la n c h a r d .
G e n . M g r . u n d er U . S. G o v t ., A . L . G ra n d y ;
F e d e r a l M g r ., F . H . A lfr e d .— (V . 1 0 6 , p . 2 4 4 9 , 2 7 5 5 ; V . 1 0 7 , p . 6 0 3 , 9 0 4 ,
1 0 0 2 , 1 1 8 6 , 1 3 4 4 ; V . 1 0 8 , p . 1 6 9 .)
A A N T H O N Y & N O R T H E R N R R . — C o m p l e t e d In 1 9 1 7 f r o m T r o u s d a l e ,
K a n ., t o V a u g h n , 4 7 m ile s , a n d P r a t t v ia T r o u s d a le t o K in s le y , 5 3 m ile s .
C o m p a re L ea v en w orth & T o p e k a R R .
P r e s ., O . P . B y o r s ; S e c ., E . M .
V etter.
O ffic e , H u tc h in s o n , K a n .
A APALACHICOLA NORTHERN R R.— R iv e r J u n c t io n t o P o r t S t. J o o ,
9 5 .6 2 m ile s ; F r a n k lin J u n c t io n t o A p a la c h ic o l a , 3 .0 6 m ile s ; t o t a l m a in lin o
o w n e d , 9 8 .6 8 m ile s .
M a in lin o le a s e d f r o m A t la n t i c C o a s t lin e , 0 .4 4 m ile s
a n d s id e t r a c k s o w n e d , 9 .0 2 m ile s .
V . 87, p . 935.
R e c e iv e r d is c h a r g e d
F o b . 2 2 1 9 1 6 , a ll flo a t i n g d e b t h a v in g b e e n p a id w it h o u t fo r e c lo s u r e p r o
c e e d in g s .
C a p it a l s t o c k , $ 1 ,0 0 0 ,0 0 0 .
' B o n d s , $ 2 , 0 0 0 , 0 0 0 (111. S t a t e T r . C o . . E . S t . L o u i s , t r u s t e e ) , a l l h e l d b y
c o m m it t e e , A . T . P e r k in s , S t. L o u is , C h a ir m a n , a n d R o b ’t I i. T o m p k in s ,
S e c r e t a r y , w h ic h c o ll e c t s in t e r e s t o n ly a s e a r n e d .
M a rch 1913 an d su b
s e q u e n t c o u p o n s w e r o n o t p a id a t m a t u r it y ; In D e c . 1 9 1 7 , $ 3 7 ,6 0 0 , a n d
in D e c . 1 9 1 8 , $ 1 7 ,4 0 0 w a s p a id o n p a s t d u o c o u p o n s .
F o r y e a r o n d o d 1 9 1 7 , g r o s s , $ 2 3 9 ,3 3 0 ; n e t , $ 5 6 ,2 8 6 .
F or 1918, gross,
$ 2 1 3 ,3 4 4 ; n e t in c o m e a v a ila b le f o r in t e r e s t , $ 1 7 ,4 6 0 .
I I . C . H a a r s t lc k ,
C h a ir m a n , S t . L o u is ; A . T . P e r k in s , P r e s id e n t , S t . L o u is ; G . H . W illia m s ,
V . - P . & G e n . C o u n c il, S t. L o u is ; R . R . T o m p k in s , S o c ’y , S t . L o u is ; F . V .
S u b r o u illo t , T r e a s ., S t . L o u is .— ( V . 1 0 4 , p . 7 o 3 .)
4 5 0 ,0 0 0
3 0 0 .0 0 0
7 ,0 0 0 .0 0 0
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A ALGOMA E A S T E R N R Y . — O w n s f r o m S u d b u r y . O n t . . t o L i t t l e C u r
r e n t ( M a n it o u l ln I s la n d ) t h r o u g h n ic k e l a n d c o p p e r d is t r ic t s , 8 6 m ., c o m
p le t e d J a n . 1 1 9 1 3 ; b r a n c h e s , 3 m .
L a n d g r a n t 6 8 2 ,6 9 2 a c r e s In O n t a r i o
a n d c a s h s u b s id ie s fr o m P r o v . a n d D o m . o f C a n . V . 9 2 . p . 2 6 5 ; V . 9 5 , p .7 4 8 .
L ea ses fo r 9 9 9 y e a r s A lg o m a E a s te rn T e r m in a ls , L t d ., re n ta l c o v e r in g ln t .
a n d s in k , fu n d o n $ 9 0 0 ,0 0 0 1 st M . 5 % b o n d s .
S e e A lg o m a C e n tr a l T e r
m in a ls , L t o . m t g e ., u n d e r A lg o m a C e n tr a l & H u d s o n B a y R y . a b o v e .
C o m m o n s t o c k . $ 2 , 0 0 0 , 0 0 0 . a ll I s s u e d , a n d p r e f . 5 % n o n - c u m . . $ 1 , 0 0 0 .
0 0 0 , a ll I s s u e d , a ll p r e f. a n d $ 1 ,0 0 0 ,0 0 0 c o m m o n o w n e d b y L a k e S u p e r io r
C o r p o r a t io n .
R o n d s ( M a n . & N o . S h o r e R y . ) a u t h ., $ 3 ,0 0 0 ,0 0 0 , is s u a b le
a t $ 3 0 ,0 0 0 p e r m ile (I s s u e d , $ 2 ,5 0 0 ,0 0 0 ), g u a r ., p r in . A l n t ., b y L a k e S u p e r
io r C o r p .
T h e y a re s u b je c t t o c a ll a s a w h o le a t p a r o r m a y b e d r a w n a t
105.
V . 92. p . 396, 462, 527, 1032; V . 93. p . 227, 406; V . 94. p . 1382.
“ A D V A N C E S”
APrlvate
Control.
RAILWAY STOCKS AND BONDS
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P a y a b le
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L a s t D iv id e n d
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P la c e s W h ere In ter es t a n d
D iv id e n d s a re P a y a b le
D J u n e 1 I960
S ep t 1 1904
A u g 1962
T o M a y 15 1922
M oh 1 1901
T o A p r 1 1926
Jan 2 1919 3 %
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J u ly 1 1 9 9 5
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N M a y '1 9 - N o v '1 9
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S Sept 5 1 9 2 5
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N M a y 1 1950
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D D e c 11 1 9 2 1
M a r 1 1964
O ffic e , 4 3 7 C h e s tn u t. P h
U n io n T r C o , S a n F ra n
M e t r o p o lit a n T r C o , N Y
E m p ir e T r u s t C o , N
Y
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Y
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a ” $ 3 8 2 ,0 0 0 ; o f “ z ”
C h e ck fr o m C o ’s o fflo e
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★ A R IZ O N A E A S T E R N
R R .— O w n s M a r ic o p a t o H a s s a y a m p a , A r lz .,
74 m ile s ; B o w ie t o M ia m i , A r l z ., 1 3 6 m .; C o c h is e to G le e s o n , 3 5 m .; T e m p e
t o M e s a , 8 m . : o t h e r . 3 1 i n . : le a s e s P h o e n i x . A r l z . . t o W I n k e l m a u , 9 2 m . ;
o t h e r , 1 m .; t o t a l, 3 7 8 m ile s .
V . 90, p . 446.
A n n u a l c o m p e n s a tio n fo r
G o v e r n m e n t o p e r a t io n a s d e t e r m in e d in M a r c h 1 9 1 9 . $ 1 , 2 4 2 ,4 7 5 .
V . 108,
p . 974.
S t o c k a u t h ., $ 4 0 ,0 0 0 ,0 0 0 , o f w h ic h
$ 9 ,0 0 0 ,0 0 0 o u t s t a n d i n g
D e c . 31 1 9 1 7 , $ 8 ,9 9 9 ,1 0 0 o w n e d b y S o u t h . P a c ifi c C o . ; w it h $ 3 ,2 7 6 ,0 0 0
o f t h e $ 9 ,1 5 5 ,0 0 0 o u t s t a n d in g F ir s t R e f . 5 s .
T h e r e m a in d e r o f th e b o n d s
a r e h e ld in s in k i n g f u n d s o f p r o p r i e t a r y c o m p a n ie s .
Y ear ended Juno 30
1 9 1 6 , g r o s s , $ 3 ,3 1 0 ,3 0 2 ; n e t , a ft e r t a x e s , $ 1 ,3 0 4 ,1 7 0 ; c h a r g e s ( n e t ) , $ 8 8 0 ,
1 9 1 ; b a l ., s u r ., $ 3 4 5 ,7 3 7 .
V . 103, p . 1209.
C a l. y e a r 1 9 1 7 , g r o s s , $ 4 ,
2 6 9 ,6 5 0 ; n e t , a f t . t a x e s , $ 1 ,7 7 2 ,6 1 2 .
G e n . M g r . u n d e r U . S . G o v t ., O . M .
S cott.
V . 107, p . 1286; V . 108, p . 974.
"A D V A N C E S ”
A N D
“ ST A N D A R D
R E T U R N ,”
A c — S co p a go 5.
A A R K A N S A S & L O U I S IA N A M ID L A N D R Y .— O w a s M o n r o e to O ross e t t . L a . , 5 2 M m i l e s , a n d le a s e s R o l f e J u n e , t o H a m b u r g , 8 m i l e s , a n d
A s b le y D r e w A N o r t h e r n R y ., C r o s s o t t t o M o n t ic e l lo , A r k ., 41 m ile s .
E x t e n s io n s o f 7 0 m ilo s t o P in o B l u f f , A r k . . A c . , p r o je c t e d .
In corp ora ted
In D e c . 1 9 1 5 ( V . 1 0 1 , p . 2 1 4 2 ) w i t h $ 1 , 0 0 0 , 0 0 0 s t o c k , a s s u c c e s s o r o f A r k .
L a . A G u l f R y . , fo r e c lo s e d ; n o n e w b o n d s a t o r g a n i z a t io n , b u t $ 2 0 0 ,0 0 0
m o r t g a g e n o t e s , a ls o o n (le a s e d ) A s h le y D r e w A N o r t h e r n R y . , $ 4 3 8 ,0 0 0
1st 1 0 -y e a r g o td 6s d u e S e p t. 1 1 9 2 2 .
v . 80, p . 100.
P r o s ., E d w a r d F o r d
G e n . M g r .. L . B . F e rg u s o n .
O f f ic e . M o n r o e , L a .— ( V . 1 0 1 . p . 9 2 2 , 2 1 4 2 .)
★ A R K A N S A S & M E M P H IS R A IL W A Y , B R ID G E & T E R M IN A L C O .
— O w n s d o u b le -t r a c k b r id g e (w ith w a g o n -w a y ) a c r o s s th e M is s is s ip p i R iv e r
a t M e m p h is , T e n n .; o p e n e d fo r t r a f f i c J u ly 15 1 9 1 6 .
V . 103. p . 321.
S t o c k o u t s t a n d in g $ 2 ,5 2 0 ,0 0 0 o w n e d o n o -t liir d e a c h b y t h e S t . L o u is
S o u th w e s te r n R y ., C h ic a g o R o c k Is la n d & P a c ific R y . a n d M is s o u r i
P a c ific R R . , w h ic h u s e t h o r o a d u n d e r a 5 0 -y e a r o p e r a t in g a g r e e m e n t.
T h e s o r o a d s J o in tly a n d s e v e r a lly g u a r a n t e e d b o t h t h e 1st M . b o n d s a n d
a ls o 3 -y e a r g o l d n o t e s (s e c u r e d b y p le d g e o f $ 6 ,0 0 0 ,0 0 0 o f th o b o n d s ),
p r in . a n d l n t ., b y e n d o r s e m e n t .
T h e s e $ 5 ,0 0 0 ,0 0 0 n o t e s w e r o t a k e n u p
b y th e g u a r a n to r s a t m a t u r it y J a n . 1 1 9 1 8 .
V . 106, p . 85.
O f t h o $ 7 ,5 0 0 ,
0 0 0 1st M . b o n d s , $ 3 ,7 5 0 ,0 0 0 w e r e o u t s t a n d in g a s c o lla t e r a l o r o t h e r w is e
o n D e c . 31 1917.
V . 107, p . 801.
T h e U . S . R R . A d m i n i s t r a t i o n In 1 9 1 8
s a n c t io n e d c a p it a l o u t la y s . $ 6 7 ,5 0 0 .
P r e s ., W . S . M a r t in , 2 1 0 U n io n S t a t io n , M e m p h is .— ( V . 1 0 6 , p . 8 5 ,
V . 1 0 7 , p . 8 0 1 .)
★ A T C H I S O N & E A S T E R N B R I D G E .— O w n s r a ilr o a d a n d w a g o n b r id g e
a t A t c h is o n , K a n . , c o n n e c t in g w ith t h e u n io n s t a t io n .
U sed b y th e A tc h .
T o p . & S a n t a F e , t h e O h io . R , I . A P . , t h e M o . P a o . a n d t h e O h io . B u r l.f A
Q u ln o y .
S t o c k . $ 7 0 0 ,0 0 0 ; p a r , $ 1 0 0 p e r s h a r e .
P r e s , a n d T r o a s .,
H . P
H e lls , C le v e la n d . O . — V . 6 7 . p . 5 7 8 .)
★ (T H E )
A T C H IS O N
TO PE K A
&
SAN TA
FE
R Y . — (S e e M a p . ) —
O n J a n . 1 1 9 1 8 c o m p r i s e d 1 1 ,2 9 1 m i l o s o f r a i l r o a d ( 1 1 , 0 7 0 m , o w n e d ) .
I n c l u d i n g a n u n b r o k e n l i n e f r o m C h i c a g o , 111., v i a K a n s a s C i t y , M o . , a n d
A lb u q u e r q u e , N . M . , t o t h e P a c ifi c O c e a n ; a ls o t o G a lv e s t o n , T e x . , a n d th e
G u l f o f M o x l c o . F o r o p e r a t i n g p u r p o s e s t h e 1 1 .2 9 1 m . w e r e d i v i d e d a s f o l l o w s ;
A t c h i s o n T o p e k a A S . F _____ 8 . 6 2 9 . 5 9 1 G u l f C o l o r a d o & S a n t a F e . - 1 . 9 3 7 . 2 5
R i o G r a n d e A E l P a s o . ______
2 0 . 2 2 | P a n h a n d l e A S a n t a F e _______
703 77
A ls o c o n t r o ls , t h r o u g h o w n e r s h ip o f s e c u r itie s o r p u r c h a s e c o n t r a c t
o t h e r H u es a g g r e g a t in g 1 2 2 .9 2 m ile s , a n d . J o in tly w it h o t h e r c o s . , 5 5 7 .1 6 m .
T h o s h a r e h o ld e r s v o t e d O c t . 2 5 1 9 1 7 t o a c q u ir o s e v e r a l s u b s id ia r ie s .
V . 105, p . 908.
In M a y 1 9 1 8 w a s a u th o r iz e d b y th e U . S . R R . A d m in is t r a
tio n t o r o s u m o c o n s t r u c t io n o n t h e O s a g e C o u n t y A S a n ta F e L in o fr o m
O a n o y , O k l a ., t o F a ir fa x J u n c t io n a n d t o e x t o n d fo r 3 0 m ile s t h e N o r t h
T e x a s A S a n ta F e L in o .
V . 106. p . 2343.
See V . 106, p . 2130.
I n A p r il 1 9 1 5 t h o S t . L o u is R o c k y M t . A P a c ific R y . . e x t e n d in g fr o m D e s
M o in e s . N . M . , w e s t t o R a t o n , w ith b r a n c h e s , 106 m ile s , w a s p u r c h a s e d fo r
$ 3 ,0 0 0 ,0 0 0 R o c k y M t n . D l v . 1st M . 5 0 -y r . 4 s .
See V . 9 7 , p . 3 0 3 . 442;
V . 95, p . 543, 1771; V . 97, p . 660; V . 100, p . 1109, 1591.
I n 1 9 0 0 a c q u ir e d c o n t r o l o f G u lf B e a u m o n t & K a n s a s C it y a n d G u lf B e a u
m o n t & G r e a t N o r t h e r n , w h ic h a r e le a s e d b y G u l f C o l o r a d o & S a n t a F e .
le s s e e a l s o o f C a n e B e l t R R . . A c . V . 7 0 , p . 7 5 1 ; V . 7 7 . p . 1 2 2 4 .
T h e O k la h o m a C e n t r a l R R . , L e h ig h , O k l a ..t o O h lc k a s h a . 1 3 3 m il e s ,w a s
le a s e d f o r 6 y e a r s f r o m A u g . 1 1 9 1 4 . w it h p r iv ile g e o f r e n e w a l f o r 6 y e a r s ,
a n o p t io n t o p u r c h a s e th o $ 1 ,5 0 0 ,0 0 0 s t o c k a n d $ 1 ,5 0 0 ,0 0 0 I n c o m o b o n d s
f o r $ 8 0 0 , 0 0 0 w a s o x e r c l s e d in 1 9 1 7 , a b o u t 8 0 % o f t h o $ 1 , 2 0 0 , 0 0 0 1 s t M t g e .
5 % b o n d s d u o A u g . 1 19 3 4 b e in g a ls o a c q u ir e d .
V . 106, p . 2130.
V. 98,
p . 1844; V . 99, p . 406; V . 101. p . 845.
O R G A N I Z A T I O N . — O r g a n i z e d D e c . 1 2 1 8 9 5 u n d e r l a w s o f K a n s a s , la
su cce sso r o f A t c h . T o p . A S . F e R R . C o ., fo r e c lo s e d .
V . 00. p. 658.
T h e r a i l w a y c o m p a n y o n D e c . 3 1 1 9 1 7 o w n e d In f e e 7 , 1 4 0 m i l e s o f s y s t e m ,
a n d a ls o a ll, o r n e a r ly a ll, t h e b o n d s a n d s t o c k s o f t h e o t h e r c o m p a n ie s .
H a s a J o i n t I n t e r e s t w i t h t h e S o u t h e r n P a o l t l o In t h o N o r t h w e s t e r n P a c i f i c .
S T O C K .— T h e p r e fe r re d s t o c k h a s p r e fe r e n c e as t o a s se ts a n d n o n -o u m u la tlv e d iv id e n d s n o t e x c e e d in g 5 % p e r a n n ., a s d e c la r e d b y th e b o a r d o f d i
r e c to r s o u t o f n e t p r o fits .
T h e t o t a l a u t h . a m o u n t o f p r e f . Is $ 1 3 1 , 4 8 6 , 0 0 0 .
P r e f . s t o c k c t f s . In “ S u p p l e m e n t ” o f A p r i l 1 8 0 7 , p a g o 3 .
I n N o v . 1 9 1 5 $ 1 0 ,0 0 0 ,0 0 0 p r e f . s t o c k w a s s o l d t o la r g e I n v e s t m e n t I n t e r
e s ts , m a k in g $ 1 2 4 ,1 7 3 ,7 0 0 o u t s t a n d in g .
V . 101. p . 1806: 2143.
T h e s h a r e h o ld e r s O c t . 2 6 1916 a u t h o r iz e d th e s a le o n a c c o u n t o f lm p t s .
o n t h e lin e o f t h e f o r m e r A t la n t i c A P a c i f i c R R . o f $ 4 ,8 0 0 ,0 0 0 p r e f . s t o c k
s t i l l h e l d In e s c r o w u n d e r a g r e e m e n t o f M a r . 8 1 8 9 8 .
V . 103, p . 937.
D I V S .—
C om . (% ).
P ro f. ( % ) - .
’ 0 0 . ’ 0 1 . 0 2 - - 0 5 . ’ 0 6 . ' 0 7 . '0 8 . '0 9 .
0
3 ^ 4 y r ly . 4 X 0
5
5H
4
5
5 y r lv . 5
5
5
8
1910 t o J u n o
1919.
Q -M )
FA A )
B O N D S .— T h e G e n . M o r t. (A b s t r a c t V . 0 2 . p. 7 3 1 -7 3 9 : s e e a ls o V . 0 8 .
p . 9 7 4 ; V . 8 0 . p . 1 0 9 8 ) g iv e s a H en, e ith e r b y d ir e c t m o r t g a g e o r b y c o ll a t e t a
tr u s t, o n 8 .5 2 8 .8 0 m . o f th e s y s t e m , w ith e q u ip ., t e r m in a ls , A c .
• T h o u n is s u e d G e n . M . 4 s h a v e
b e e n r e s o r v o d a s fo ll o w s : T o r e tir e u n d e r
ly in g b o n d s , $ 2 ,0 0 4 ,9 0 0 ; fo r l m p t s ., A c . , $ 1 ,8 5 2 ,1 0 2 ; a c q u is it io n s o f o t h e r
lin o s , $ 6 ,7 3 1 ,5 5 4 ; n o lo n g e r a v a i la b l e , $ 2 ,3 3 9 - 3 8 3 .
A d ju st. ( In c o m e ) M tg e . a b s t r a c t . V . 0 2 . p . 7 3 9 .
L it . p a y a b le o n ly I f
a a r n e d u p t o 4 % In e a c h y e a r , c u m u l a t i v e .
P r e s e n t Issu e lim it e d t o $ 5 1 ,.
7 2 8 ,0 0 0 ,
b u t w h e n t h e $ 3 0 ,0 0 0 ,0 0 0 g e n . 4 s a u t h . fo r I m p r o v e m e n t s a s a b o v
12
★ Government
Control.
APrlvnte
Control.
RAILWAY STOCKS AND BONDS
R A IL R O A D C O M P A N IE S .
[ f o r abbreviations, <&«.. see notes on first page.]
M iles Date
Road Bonds
Par
Value
Amount
Outstanding
Rate
%
When
Payable
Last Dividend
and Maturity
[Vo l . 108
Places Where Interest ana
Dividends are Payable
Atchison Topeka & Santa Fe Ry (Con.)—
5 Nassau Street. N Y
4 g J Sc D June 1 1955
1909 Sl.OOOAo $1,190,000
Bonds convertible till June 1918 red (text)G.xc*&r*
do
do
4 g I Sc D June 1 1900
1910 1,000 Ac 11.136.000
Bonds convertible till June 1923 red (toxt) Q.xc*&r*
do
do
Jan
1
1928
J
Sc
J
5
g
1,000
192.000
1898
141
Hutcbln A So 1st M g red 105 since 1908_.OB.ao*
do
do
A Sc O Oot 1 1940
1,000 z5.949.000
5g
375 1896
San Fr & San Jo Val 1st M g call 110 alt 1915. Ba.zc
do
do
1.000
4,940.000
5 g M Sc S Sept 1 1942
195 1892
Santa Fe Pres A Phoenix— 1st M................ g Ba .zo*
do
do
Apr
1
1928
A
Sc
o
224,000
1.000
5
g
26 1898
Prescott Sc Eastern 1st M guar---------------------Ce.zc*
do
do
4H g M & H Mch 11962
$ & £ u 18509.669
834 1912
Oal-Ar L IstARef M *50,000,000 gred llO.O.xo* Ar*
Now
York
Trust
Co,
NY
&
July
1
1937
J
J
1,000
200,000
5
g
'1907
Athens Terminal Co— 1st M gold redeem 105 -N.xo*
Old Colony Trust Co, Bos
1,000 4.090.000
5 g .r So J Jan 1 1934
337 1904
A tl Blrm & Atl—Atl & B 1st M red 110------OB.xc*
Equitable Trust O o .N Y
text M Sc N Nov 1 1945
1,000
None
634 1915
First Sc Ref M 515.000.000 g call (text).Eq.yyc*&r*
Columbia Trust Co, N Y
1,000 4,543.907 5 In 1917 M Sc H Nov 1 1930
638 .1915
Income M 5% n-c 55.200,000 call par Sc Int-Col.yc*
1,700.000
M Sc 8 Mar 1919 i'A % U S Mtge A Tr Co. N Y
100
9
263
A tla n t a & Charlotte Air Line— Stock (see te x t)...
Central Trust Co, N Y
263 ,1914 1,000 &c 20,009,000 4K Sc 5 J Sc J July 1 1944
1st M 520,000,000 ($5.600,000aer A44*) Ce.yc*Ar*
Atlanta Knoxville & Northern Ry—See Louisville A N aghvlll
AtlantaCenBkATr Oorp
425.000
6 g A Sc O Oot 1 1938
1.000
82 1908
A tl & S t A n d Bay— 1st M $500,000 g red par------c*
J Sc J
425 000
6
1914
Second mtge (5500,000 authorized)----------------------Guaranty Trust Co, NT Y
T
)
A
July
1
1953
4g J
1,000
1,500.000
5.32 1903
Atlanta Terminal— First mtge $1.500.0M g._(l.xo*&r
100 2,463.600 0 In 1918 J A D Dec 30 '18 3% Atlanta, Ga
93
Atlanta & West Point— Stock $2^,500.000 auth
Reading Terminal. Phlla
N
May
1
1919
M
A
2,200.000
5
g
1,000
18fi9
83
Atlantic City—First Mtge *2,200,000 gold._auP.xo*
do
do
A A O Apr 11930
75.000
4H
1,000
1900
do
do
A A () Apr 1 1948
350.000
5g
68 1898
do
do
July
1
1951
A
J
1,000
1,851,000
4
g
J
All
1901
50 8.820.000 12 In '18 C!—M Mar 10 T9 3% Baltimore
Atlantic Coast Line Co (Conn)—Stook (see text)
.
Doc 1918 paid 2H %
5 cur J A T) Irredeemable
100 See 5.000,000
1897
Certfs. of lndebt lno non-oum *5,000,000._SBa.
Jan 1919 paid 2%
J A J
4
100 Ac
61,800
1900
do
Jan 1919 paid 2%
J A J Jan 1 1925
4
100 Ac 3,000.000
1905
do
100 67.559.400 7 In 1918 J A J Jan 101919 3 H Treas Office, Balt, Md
Atlantic Coast Line RR—Stook common (text).
do
do
1,000.000 7 In 1918 J A ,1 Jan 10 1919 3 A
100
Class "A ” com stock tax exempt (Rloh A Pet oertts)
do
do
100
196.700 5 In 1918 u Sc N MaylO 19192H
Preferred stock 5% (V. 75, p. 1252)------------J P Morgan A Co, N Y
4 R M & N Oct 1 1952
1902 1,000 See 35,000.000
United States Tr Co. N Y
1,000
15.000
4 g J & 1) Deo 11959
4.30-1 1909
Unified mortgage gold (closed).
do
do
■
.r Sc 1) June 1 1984
4H
4,350 1914 1,000 Ac t22.819 000
Gen Unified Mortgage-----------do
do
100,000
4
J Sc D June 1 1984
4,350 1914
Do
series B----------------t Further $23,782,674 4Hs in treasury Dec.311918; u & z See pre ceding pa
r
have been Issued, *20,000,000 additional adjustment 4s may be issued for
the same purpose at not exceeding *2,000,000 In any one year, but only by
a majority vote of the adjustment bondholders. Interest— In Nov. 1897
__
paid 3 % ; since, full 4% yearly.
Eastern Oklahoma division 4s of 1903, V. 70, p. 434; V. 79, p. 1331;
V. 84. p. 1549; V. 85. p. 598' V. 86. p. 980, 1041.
„ . ,
The “ Trans-Continental Short L in e" first gold 4s of 1908 are limited to
*30,000,000 auth. Issue. The *17,000,000 sold in Aug. 1908 covered 693
miles then In operation; the remaining *13,000.000 can bo Issued at *25.000
per mile. V. 100. p. 2008. Compare Issue June 26 1915. V. 87, p. 479. 878.
The 4s of 1905 ($49,711,000 auth. Issue) wore convertible Into com. stock
at par till Juno 1 1918. V. 79. p. 2095; V. 80. p. 649; V. 81. p. 1174;
V. 82, p. 391. 867. Of the 526.056.000 5s Issued in 1907. the $7,500,000
still outstanding June 1 1917 were paid at maturity on that date. V. 104. p
2341. The 4s or 1909 were convertible into common stock at par to Juno 1
1918. V. 88, p 1435. 1559. The 4s of 1910 are conv. Into com. stock at
par prior to June 1 1923. V. 90. p. 913,1043.1612; V. 92. p. 393,593,1700.
The several Issues of convertibles must be secured by any future mtge.
covering the lines owned at time the convertible Issue was made, and may
be called at 110 on any Interest day, but when called may be converted
Into stock provided the time for conversion has not expired.
The Calltornla-Artzona Lines 1st and Ref.mtge. of 1912 (*50.000.000 auth.
Issue) of which $18,509,669 4Hs are outstanding covers 834 miles of
road. Including the line from Needles to Mojave, 242 miles, which was
acquired from the Southern Pacific Co., on which there are outstanding
*4,127,500 Sou. Pao. bonds due Nov. 1 1937. The latter also cover over
1,000 miles of Sou. Pao. Co., which has agreed to indemnify the Cal. Arlz.
Sc Santa Fe Ry. against any claim on account thereof.
Of the remaining Cal.-Arlz. bonds. $26,323,331 are Issuable for not
exceeding the actual cash expenditures for betterments. Improvements and
additions on and after Jan. 1 1912 and *5,167,000 are reserved to refund the
unaeriying bonds, *4,940,000 Santa Fe Prescott A Phoenix 5s, *224,000
Prescott & Eastern 5s and *3,000 on the line from Golfs to Ivanpah, Cal.,
45 miles. V. 94. p 649. 696. 700; V. 95. p. 543.
o r the Rocky Mtn. Dlv. 1st 4s of 1915 ($20.000 000 auth. Issue). $3.
000.000. redeemable at 105, were issued to purchase the St. Louis Rocky
Mtn. Sc Pac. Co.. Des Moines to Raton, N.M., Ac., 95 railos. The remainder
may be Issued for extensions. V. 100, p. 1593: V. 102. p. 250.
“ ADVANCES” AND "STANDARD RETURN,” & c— See page 5.
Standard return under contract with the U. S. Government, $42,810,311
being sufficient to provide dividends at customary rate.— V. 107, p. 1836,
2097.
EARNS.— 12 mos., f 1918__Gross, $187,063,885; not (before $51,969,706
Jan. 1 to Doc. 31.
U9l7_.Gros.s, 165,155.435; taxes)
60,299,262
REPORT.— For cal. year 1917 in V. 106. p. 2113, 2128, showed:
----- Years end. Dec. 31------------ Years end. June 30—
1917.
1916.
1916.
1915.
Aver, mtloage operated.
11,284
11,259
11,247
11,115
Total oper. revonues___165.529,519 144,290,238 133,762,392 117,665,587
Total oper. exponses___105.222,878 88,413.487 S3.730.960 76.091,553
Taxes, &c_..................... 11,959,941
6,799,157
6.251.439
5,522,633
Income from investment
Interest on bonds--------Rentals, Ac---------------- 1
Hire of equipment____ f
Miscellaneous________ J
Preferred dlvs. (5%) —
Common dlvs. (6%) —
Approp. fuel res. fd., See.,
Invest, in phys. prop'ty
48,346,700 49,077,594
1,424,5801 3,477,855
2.468,949/
43,779.993
/ 820.865
(2,486,264
36,051.401
688,478
2,308,672
52,240,229
11,852,977
52,555,449
12,364,166
47,087,123
12,529,733
39,048,551
12,785,747
2,201,704
2,069,094
1,990,852
2,144,888
6,208,685
16,486,403
85,280
8,348,180
6,208,685
12,813,750
6,208,685
12,482,280
55.482
7,000,000
5,708,686
11.841.330
54,503
6,513,397
6,819,091
None
•
X
X
, 7,057,000 z l9 .099,754
x Amounts not determined In 1916 owing to change in fiscal year.
OFFICERS.— E. P. Ripley, President: E. J. Engel, V.-P.; D. L. Gallup
Comp.; O. K. Cooper, Asst. Treas. W . B. Storey, Federal Manager,
Chicago.
Directors.—Charles Steele. Edward J. Berwlnd. A. D. JulIIard, H. Rleman Duval, Henry S. Pritchett, Ogden L. Mills, N. Y.; T. De Witt Cuyler,
Phlla.; E. J. Engel, Edward P. Ripley, S. T. Bledsoe, Chicago; Andrew C.
Jobes, Merriam. Kan.; Howell Jones. Charles S. Gleod, Topeka; II. O.
Frick. Pittsburgh; Carl R. Gray. Baltimore. Office, 5 Nassau St., N. Y .
— (V. 108, p. 169, 266, 377.)
★ ATHENS TERMINAL CO.— Owns freight terminals and approaches In
Athens, Ga. Stook $25,000, equally owned by Seaboard Air Line and
Gainesville Midland, which agree to pay operating expenses and Interest
charges In proportion to tonnage use. Bonds ($250,000 auth. Issue), see
table above. Pres., W. R. Beauprlo, Gainesville, Ga.; Sec. A Treas.,
Gordon O. Carson, New York City.
★ ATLANTA BIRMINGHAM & ATLANTIC RY.— Owns Brunswick. Ga .
to Birmingham, Ala., 453 miles; Scssoms to Waycross, Ga., 25 miles;
Fitzgerald to Thomasvllle, Ga., 81 m.; Atlanta to Manchester, 78 m.;
total, 638 m. See V. 103, p. 405. Aa extension from Waycross. Ga., to
Jacksonville, Fla., 75 miles, is proposed. V. 104, p. 2116.
ORGANIZATION.— On Jan. 1 1916 succeeded to foreclosed properties
of the A. B. Sc A. Rlt. C o .. Georgia Terminal Co. and Alabama Terminal
Ry., per plan in V.lOl.p.2143. Result of Fedoral valuation, V. 103,p.1887
Tho U. 8. RR. Administration in 1918 sanctioned equipment, Ac.,
outlays of $1,364,896. V. 108, p. 266.
“ ADVANCES” AND “ STANDARD RETURN,” Ac.— See page 5.
Traffic development 1918, V. 107, p. 285.
STOCK.— $30,000,000 in $100 shares was underwritten at $12 a share
for discharge of equipment obligations (about $1,206,366), Ac. V. 102,
p. 344, 885.
BONDS.— First and Refunding Bonds.— When Issued will be a first
mortgage on 300 miles of matu-llne track and second mortgage on
337 miles, and upon the terminal properties In Birmingham and Atlanta.
To be Issued only («) to retire, at or before maturity, Atlantic A Birming
ham Ry. $4,090,000 1st 5s due 1934. (5) For future Improvements, ex
tensions and acquisitions under restrictions. None of these fixed Interest
bonds had been issued to Dec. 31 1916. Interest rate to be fixed at time of
Issue, not to exceed 6 % . V. 103. p. 405. Callable at 110 & lnt. Nov. 1920
to 1925: at 105 Sc lnt. 1925 to 1035, and thereafter at 102 44.
On Dec. 31 1917 $1,424,000 First A Ref. Mtge. bonds had beon issued,
but none had been sold; $600,000 woro in use as collateral for $500,000 notes.
Also $200,000 of tho $656,093 incomo bonds owned (of $5,200,000 auth.)
wore pledged to secure $100,000 notes.
Income Bunds.—Entitled to non-cum. Interest (paid semi-annually)
at such rate, not exceeding 5% per annum, as may be declared.
(V. 101. p. 2143).
Tho mortgage provides that net Income, as de
fined by the I.-S. Comm. Commission, as available for that purpose, shall
be so declared by tho Board. The board may, however, reserve In
any year from such “ net Income” not In excess of 20% thereof,
(but not to exceed $100.000in any year), until the total amount so rosorved.
exclusive of Interest, shall reach $300,000. This "Income Bond Reserve
Fund." carrying Interest at 6 % , may be distributed to the Income bonds
at any time and In any amount, and any balance at the maturity of the
bonds shall be paid over to the trustee for the benefit of tho bondholders.
Total auth. issue, $5,200,000; held by or for company $656,093, Including
$370,640 purchased In 1917; outstanding, $4,543,907. V. 105, p. 68.
The first Installment of Interest on tile 15-yr. 5% income M. bonds at
the full rate of 5% per annum, from Nov. 1 1915 to June 30 1916, $33 33
per $1,000 bonds was paid 8ept. 1 1916, but only as to 2 44% from earnings,
the now company not having taken possession till Jan. 1 1916. V 103,p.664Status of Sept. 1 1918 Income bond payment, see V. 107, p. 904.
Mar. 1917 to Mar. 1918, incl.. 244% (s.-a.) was paid on the incomes.
As to Atlanta Sc Blrm. Ry. $4,090,000 1st M. 5s. see V. 80. p. 710. 115.
L ATEST EARNINGS.— /1918_____ Gross, $4,703,381; def., $335,074
nos., Jan. I to Dec. 31.11917_____ Gross, 3,983,368; not, 661,111
12 mos
REPORT.— For years ending Dec. 31 1917 In V. 107, p. 285, showing:
Calendar
Year—
Gross
Earnings.
N et, after
Taxes.
Other
Income.
Interest
Rents. A c.
Balance,
Surplus,
$61,892
$482,150
$64,450
$480,459
1917......... $3,983,368
$280,899
$438,424
$103,180
$622,143
1910......... $3,339,840
27,515
314.690
54,283
287,922
1915 ......... 2.852.042
Directors.— F. K. Mays, Brooks Morgan, J. K. Ottley and Mell. R.
Wilkinson of Atlanta; A. II. Woodward, Birmingham, Ala.; Galen L.
Stone and Charles F. Ayer, Boston; Percy R. Pyne, Geo. O.
Clark Jr. and Howard Bayno, N. Y . City: E. K. Farmer, Fitzergald. Ga.;
F. D. M. Strachan, Brunswick, Ga.; Elijah B. Lewis, Montezuma, Ga.;
W. O. Vereen, Moultrie. Ga.
Pres., W. G. Brantley; V.-P., Brooks Morgan, Sec. Sc Treas., J. M .
Caldwoll, Federal Manager, E. T. Lamb, Atlanta, Ga.; Gon. Mgr. under
U. S. Govt., W. R. Hudson.— V. 107, p. 1836, 2474; V. 108, p. 266.
★ ATLANTA & CHARLOTTE AIR LINE RY.— Owns Charlotte. N C„ to
Armour, Ga., 263 miles.
,
..
The stockholders on June 2 1914 voted (1) to authorize a first mortgage to
secure an Issue of $20,000,000 bonds to be Issued In lettered serlos and to
boar not over 5% lnt.. and (2) to modify the operating contract made with
the Richmond Sc Danville RR. under which the dividend to bo paid will be
9% yearly without regard to earnings, instead of a maximum of 7% . de
pendent upon grass earnings, the Southern Ry. to have an option to pur
chase tho stock on any dividend date at $250 per sliaro in cash. V. 98, p.
1458, 1765, 1918: V. 98, p. 1991; V. 99, p. 195, 536, 608: V. 106, p. 2758
(So. Ry.). The final $4,000,000 1st M. 5s was sold In 1917 pn account of
double^tracklng, Ac. V. 104, p. 1044.
p. 286, 368; V. 103. p. 577, 064.
Year ending Dec. 31 1917. gross. $8,601,992; net, after taxes. $3,810,887;
other income. $17,182: lnt.. Ac.. $1,401,873: dlvs. (9%). $153,000: addi
tions, Ac., $1,129: bal.. sur.. $970,878.
„ ,„
„„„
Pres., O. S. Fairchild. N. Y.— (V. 104, p. 1044. 1898; V. 105, p. 388.)
lnt., $51,000; bal., def., $3,983. Pros., Minor O. Keith; Sec., II. II. Han
son, both of New York.— (V. 107, p. 1917.)
★ ATLANTA TERMINAL CO.— Owns union passenger station opened
May 14 1905, with approaches, used by Southern Ry.. Central of Georgia
Ry., Atlanta Sc West Point RR., Atlanta Birmingham Sc Atlantic Ry. and
Seaboard Air Line Ry. Stock. $150,000. owned In equal proportions by
the first three companies named, charges and expenses being paid by the
five using companies on car basis. Tho U. S. It It Administration In 1918
sanctioned capital outlays of $74,000. Federal Mgr., E. T. Lamb, At
lanta. Ga. V. 105, p. 2093; V. 107, p. 904.
★ ATLANTA & WEST POINT RR.— Atlanta, Ga.. to West Point. Ga.
93.19 m. Leased to Georgia RR., which owned $936,100 stock, but sold
same in 1910-11 to the lessees at $135 per share with option of ropurchaso
at same price. Annual compensation under Federal control, $252,995;
total estimated amounts (lncl. other income) available for dividends,
$283,070.
DIVIDENDS.— From July 1 1884 to July 1901. Inclusive. 6% yearly.
J. Sc J.: Oct. 1 1899. 25% extra; 1902 to Dec 1918 0% yearly.
Loans and bills payable outstanding Doc. 31 1918, $150,000.
Year ended Doc. 31 1917, gross. $1,770,250: net. aftor taxes. $394,513;
other Income, $204,606; rentals,Ac., $169,655; dlvs. (6%), $147,816; sur..
A p r ., 1919.
★ Government
Control.
R A IL R O A D C O M P A N IE S .
IF or abbreviations, & c., see notes on first page.)
Miles Date
Road Bonds
All Coast Line RR (Concl)— .
Oonv debs J23.562.500 red 105 after M ay’ 16 SBa.xr
OertIQoates of Indebtedness (new )__________
z
...
Equip trustser B gold $125,000 due s-a ..........SBax
—
Bonds to be Refunded by General Unified Bonds—
First cons (1st M on 1.023 miles) clos ed ._F .x c*A r* 3.941
North East (S C) Cons M gold Flor to Charleston.xc
102
Atlantic O L of S C Gen 1st M (ls t on 594 m )g SBazo*
696
Petersburg M olass A g o l d ................. ...................
%
69,
do
do
class B g (Petersburg to W eldon) .z
69
Richm ond A Petersburg Consol M g _______ Ce.xo*
2/
W llm A W eldon Gen M ($938,000 are 4s) g.SB a.zo*
479
W ilm ington A Newbern 1st M gold assum__SBa.z
91
Nor & Car 1st M gold (P Pt Va to Tar. N O .C e .z c *
110
Second m ortgage gold __________________ SBa.zo*
110
Sav Fla A W 1st M g ($2,444,000 are 5 s).M p .xo*A r
543
Charleston A Savannah gen mtge gold ___SBa.zo*
111
Bruns A W 1st M (Brunswick to A lbany)g gu Mp.zc
167
Alabama Midland 1st M g (Balnb to Montg) ..M p .x c
174
Florida So 1st M gold ........................................AB.zo*
244
Sanford & St Petersburg first mtge gold ______ PePx
145
Atlantic & Danv— IstM $4,425,000 g lnt ren t..B a x o*
278
Second m ort $1,525,000 gold lnt rental....... Eu.xc*
278
Atlantic & North Carolina— Stock $ 1,8 00 ,0 0 0 .............
___
1st M tge $325,000 g guar p & i b y N orf S o .E q .y c*
6
A tla n t ic Q u e b e c & W t» t — 1st M callable 110____ c*
—
Atlantic & St Lawrence— Stock 0 % rental Grand Tr'k
167
Atlan & W est'n — IstM $1.500.000g red 1 0 5 ...F B a c*
24
Augusta & Savannah— Stock 5 % rental Central of Ga
53
Augusta Southern— First consol mtge gold ____ Ce.xc
82 H
Augusta Union Station— First M $250,000 gold.S B ax
...
Austin & N W — See Houston & Texas Central
Avon Genesco & Mt Morris R R — Stock (see t e x t)____
17.7
Baltimore Chesapeake & Atlantic— 1st M gold.M p.zo*
88
B a lt & C u m b Vail R y— See Western M aryland Ity
8 & C V RR E xten— Stock gu ($270,000 carries 7 % ) .
...
First mortgage interest rental ..........................MeBa
26.5
B alt & H a rrisbu rg R y— See Western M aryland Ry
x Further $388,750 in treasury D ec. 31 1917.
1909
1902
1911
Par
Value
Amount
Outstanding
Rats
%
$100 A c
100 A c
1.000
$4,481,045
135.100
750.000
4
4
fl£ -% }S
“
“
T
f - f - ' T io- f - f f
io-
When
Payable
M
M
g J
1902 1,000 Ac x50.938.000
4 g
M
1,000
1883
657,000
6 g S J
1898
1,000
5,547.000
4 g
J
1881
1,000
868.000
5 g
J
1881
1,000
800.000
6 g • A
1890
1,000
300.000
4 L* g A
1885
1.000
4.000,000 4 g A » g J
1897
1,000
106.000
4 K F
1889
1.000
1.314.000
A
5 g
1896
1.000
400.000
J
5 g
1884
1,000
6.500.000 5 g & 6 g A
1886
1.000
1.500.000
J
7 g
1888
500 Ac
1.407.000
J
4 g
1,000
1888
2.800.000
5 g
M
1895
1.000
2.418.000
4 g
J
1,000
1894
275.000
J
4 g
1900
1,000
3,925,000
J
4 g
1904
1.000
1,525.000
4 g
J
____
100
1.797.200 3 In 1918 .1
1.000
1917
325,000
6g
J
1905
£100
2,5-18.675
text
J
____ £ & $100
5.484.000
6
M
1912
500 Ac
303.000
5 g
M
____
100
1.022,900
5
J
1894
1.000
400.000
5 g
J
1903 1.000 Ac
225.000
4 g
J
1894
100
1.000
225.000
1.250.000
. .
1881
50
1.000
890,600
230.000
$281,448. x' in* *uar i u io tno com pany reports a Daianco or *283,070 after
deducting war taxes ($281,352); deduct com m on divs. (6 % ), $147,816;
ba .. sur., $135,254. Pres., O. A . W lckersham. Fed. M g r., E T . Lamb
Atlanta, G a.— (V . 106, p. 923; V. 107, p. 400, 1383.)
★ ATLANTIC CITY R R .— Camden toA tlantlo City,58.3 5 miles; branches.
W n slow .Junction to Cape May, N . J .. 55.80 miles:
W illlamstown.
22.67 mllc3- Gloucester, 10.&» miias; Sea Isle City, 12.35 miles; Ocean
City, 10.16 miles; to ta l, 170.18 miles. V . 72. p . 1278. STOCK, common
$2,625,000; pref., $1,000,000 (par. $50). Reading Co. owns a b o u t 99% of
stock, and guarantees consol. 4s, prln. and lnt.
Form of guaranty V
75. p. 1398.
Of the latter, $2,649,000 are reserved to retire prlor’ llen
bonds. V. 73, p. 81. I here are $22,800 Sea Coast " A ” 5s; $1 200 " B " 5s
In April 1919 holders o f tho 1st M . 5s duo M a y 1 were offered an extension
o f their bonds at
interest until M a y i 1929 (subject to rail at 105)
the extended bonds to be unconditionally guaranteed, p . & L b y the
Reading C o. and payable without deduction for any taxes. Holders o f de
positing their bonds for extension with Drexel & C o ., Philadelphia wil
receive a bonus o f $25 per $1,000 bond in cash and paym ent o f M a y cou p on .
E A R N IN G S . 12 n ios.,f 1918,Gross, $4,252,270’ net (before 81 't^i on,{
Jan. I to Dec. 31.
(l9 1 7 .G ro ss
3 215 426’
taxes)
$ 1,« r V 7m
gross, $2 477,137; iet,.$ 4 68 ?9 14 'other Income
$64,208. D educt: Interest on funded debt $207 872 * ppnfaio
jeVA.
$237,791: additions & im pts., $47,215; bal. d ef , $40 334 ’ Cal v u I fliV
gross, $3,215,425; net, after taxos, $720,229.
^ a l- year 191' •
Fed. M g r., Chas. H . Ewing, l’ hila., P a.— (V . 82, p . 750.)
AT L A N T IC C O A ST LINE C O .— Organized M a y 29 1899 In Connect lent
and owned J u n e30 1918 $18,595,600 com m on stock and a ltmgo amount o f
bonds o f A tlantic Coast Lino R U .— see below and V. 107 p 1673
S T O C K , & c.— Reduced in 1914 to $8,820,000. V .9 8 n 234 609
As to the certincates of Indebtedness, see editorial Oct i«Q7 « ,„n i»
ment. p. 3: V . 65. p 564: V . 71. p. 1310
In 1898 *5 onn nnn7. v 5 S ,£ «
distributed as a 100% dividend (V . 67. p. 954), a n d I n l f l M i w 000 000 4 %
8
APnvate
RAILWAY STOCKS AND BONDS
f - T ’,!?• ii,1- 'il
1018, In V. >0/. p. 1573 «
0T?d:
“ •
«
» !| | «
N et in c o m e ..$1,408,957 $1,405,105 T ot.p .& L su r.L 3 836 191 13 484 027
Chairman, Henry Walters.— (V . 106. p . 600; V . 1 0 7 ,™ 1573.) ' 481,027
★ ATLANTIC COAST LINE R R .— (See M a p .)— Operates from Richmond
and Norfolk, V a.. to Fort Myers. M oorehaven, Port Tam pa and R iv e r J o ? d
Fla., on tho south, and Montgomery, A la., and Augusta. Ga on the writ"
reaohlng the ports of Norfolk. V a.; W ilm ington, ftf. c /• Charleston S r '•
Savannah and Brunswick. Ga.. and Jacksonville and P ort Tampa. Fla.
Lines owned and trackage— M iles.
Lines owned, &c. (Con.)— M iles.
Richm ond, V a., to Port Tampa,
Sylvan Lake near Sanford to
F l a ...................... ....................... 907
S t. Petersburg. Fla.................. 145
Norfolk. V a.. to South R ock y
Palatka, Fla., to Brooksvllle
145
M ount________________________ 115 Mllldale, Fla., to Perry...
163
Contentnea to W ilm in g ton ..
105 Branches, A c _____
1 700
W ilmington. N . 0 ., to Pee Dee
Leased—
................ 1,1
Junotlon ...................................
97 Central RR. of So. Carolina—
Florence. S. O., to Augusta, Ga. 167
Lanes to Sumter S .
Sumter to Columbia_________ _
45 Other
lines............................. ” ”
c
40
Yadkin Jet. (Wilmington, N.C.)
to Sanford.................................
Waycross, Ga., to Folkston, Ga.
n e Total In earns. Dec. 31 1918 4.840
34 Closely allied lines (see each co J—
Jesup, Ga., to Montgomery, Ala. 355 Louis. A Nash. (Incl. all cos.) 7.675
Brunswiok, Ga., to A lb a n y____ 169 Charleston & Western Carolina! 343
Dupont Jet. to Fort Myers, F la . 349
81
901Northwestern RR.of So. Car
Ilainos C ity to Harrisburg_____
3K
5 K
a
a
0
7
A
A
A
Control.
Last Dividend
and Maturity
N N ov 1 1939
N Irredeem able
13
Places Where Interest and
Dividends are Payable
Safe Dep & Tr Co Balto
Treas Office, Balto, Md
D June’ 19-D ec '21 U S Tr Co. N Y . A Balto
A S July 1 1952
United States Tr Co, N Y
A J Jan 1 1933
United States Tr Co N Y
A J July 1 1948
Safe Dep & Tr Co. Balto
A J July 1 1928
Meroh Nat Bk. Rloh d.Va
A o Oot 1 1926
do
do
A o A pr 1 1940
Brown Brothers, NY
A J July 1 1935
First Nat Bk. NY, &Balt
A A A ug 1 1947
Safe Dep A Tr Co. Balt
A O Apr 1 1939
Central Union Trust, n Y
A J Jan l 1946
Safe Dep A Tr Co. Balt
A o A pr 1 1934
United States Tr Co. N Y
J
A
Jan 1 1936
do
do
A J Jan 1 1938
do
do
A N N ov 1 1928
Metropolitan Tr Co. N Y
A J Jan 1 1945
United States Tr Co. N Y
A J Jan 1 1924
do
do
A J July 1 1948
Bankers Trust Co. N Y
A J July 1 1948
Equitable Trust Co
& J Jan 1919 1>$ Check from Co's Office
A J July 1 1922
N Y, Equitable Trust Co
&
I July i 1935
See text
A S M ar 1919 3 %
London and Portland
A N May 1 1952
Fidelity Tr Co. Balt
& J Jan 6 1919 214 Savannah, Ga
& D Dec 1 1924
18
Coup pd A u g '18
& J July 1 1953
Safe Dep & Trust Co.Balt
J
M
A
A
J Jan 1 1919 1H Erie Railroad. New York
S Sept 1 1934
Phila and New York
J
J
A
A
J Jan 11919
J July 1 1931
Company’s office. N Y
Nat Bk Commerce N Y
V* 100, P’ 1? 19’ Tasting, see V. 103, p. 2237. Of the $46,731,674 Gen.
Unified bonds Issued to TDec. 31 1918, $23,032,000 were on that date In
hands of pub ic ($22,849,100 at 414 % and $100,000 at 4%) and $23,782 674
4Ms were held in the treasury. V. 106. p. 2235.
Purposes for which the $200,000,000 General Unified Bonds were or are issuable
Issuable as 3er A 4 « 8 to refund $30,749,484 Unified 4s...........$30,847,484
Reserved to retire 4% certifs. or indebtedness, pref. stock and
debenture bonds______ ________________
4 yco m
Reserved to retire underlying bonds.................-I -I I I I I I I I I I I I 84!438’650
Reserved (along with any bonds not Issued to retire certificates
in“ Pbtedness) Tor future construction. Improvements. A c .. 79,749,806
The 4% convertible debentures are redeemable at 105 and convertible a*
the option of the holder Into common stock at $135 a share at any time up
to Jan. 1920. or, if called, up to 30 days of date. V. 97, p. 1513.
As to the 535,000,000 collateral trust 4s of 1902, sec "Organization’*
above. They are subject to call at 105 in amounts not less than $100,000.
There were outstanding Doc. 31 1918S15.000 Bruns. & West. Incomes.
& Vandemere 4 14s ($1,500,000 authorized, of which
* 7 :20,000 outstanding) are guar., p. & I., by endorsement. V. 84. p. 1246.
As to Winston-Salem South Bound RR. guar. 4s# see that company.
Equipment bonds (414 g.) of 1911. due 1921. See V. 93. p. 1323.
Bonded debt per mile Dec. 31 1918, $28,794.
“ADVANCES” AND "STANDARD RETURN,” Ac.— See page 5.
,oV^rJSal, compensation under contract for Government operation, $10,
185,942, including two subsidiaries, viz., Washington A Vandemere and
Tampa A Southern.— V. 108, p. 169, 266.
LATEST EARNINGS.— 11918...Gross, $56,992,329: net, $14,329,027
12 mos„ Jan. 1 to Dec. 31.11917...Gross, 14,063,331; net, 14,289,336
RE FORT.— For cal. year 1917 •'t length in V. 106. p. 2219. 2235:
Calendar Years—
1917.
1916
1915
Gross receipts.....................
.........$44,063,331 $37,322,085 $31,936,96?
Operating expenses, taxes, Ac--------- 32.049,589 25,915,848 23,751.456
Net earnings................ ................... $12,013,742 $11,406,237 $8,185 506
Otherincome
--------------------------- 2,608,818
l,996,468d 1,548 486
DIv. L. A N. stock................ ......... (7% )2,570,400 (7)2.570.400 (5)1,836.000
Gross income.
---------------------$17,192,960 $15,973,105 $11 569 992
Interest on funded debt............ ............ $6,050,657
$5,812 267 $5,656 779
Other interest.................
60,183
86:666
116426
Prcferrrod dMdend's''(5% )I ! ! ! ! ! ! ! !
389,835
D?™ ^n^dp ^ ^ I ^ “A 'rstock'.V.V.^^|j)70:000
- ... -------
4°9.835
369835
3 7d7%
(6)60,000 (5)3l
' '(5 )5
,'6 o30
65
Balance, surplus................................. $5,892,350 $5,548,312 T l.9 9 0 .6 3 2
O F F IC E R S .— Chairman, H enry W alters: Pres., J. R K e n lv V -P
R . A . Brand; Gen. M gr P. R . A lbright; V .-P . A Sec . H ertert L7 B ord en •
Treas., J. J. Nelligan, A u d ., J. E . Shannon; Gen. Counsel, G eo. B . E llio t t ’
Federal M g r., Lym an D elano. W ilm ington, N . C .— (V . 108. p . 169, 266!)
★ A T L A N T IC & D A N V IL L E R Y . — W est N orfolk to D anville, Va
205.1 m ih s; three branches 22.25 m iles; James R iver Jet. to Clarem ont
(3 -ft. gauge), 50.36 miles, total, 277 m iles. Leased to Snuthpm P v
from Sept. 1 1899 to July 1 1949 for taxes, repairs, maintenance and cash
9 !^ m
InCad ^ tm rth L nS n n ? ^ ^ ,th prlvli eKe
renewa,s ^ term s K
“ S S w ttw r a R y •agrees to pay the same rate o f d ivi
dends on com . stock as paid on Its own co m . stock. V .71.P .447’ V 79 d 625
Suit to enforce provisions o f lease, V . 95, p . 1606.
v ./a .p .o ^ o .
BON DS.— Of the $4,425,000 4s of 1900. $500,000 can be Issued o n ly for
improvements upon request of Southern R y . In ter^ t charges to be covered
b y Increased rental. Of the $1,525,000 second 4s, the remaining $750 000
were Issued July 1 1909. V . 77. p . 1 9 5 . - ( V . 89. p . 1410: V . 95! p . 1606.)
^
RR*— Morehcad City to G oldsboro.
N ’ 0 , 9 6 miles
N o . O ar. A ug. 1917 owned $1,266,500 o f $1,797.
200 Stic, v . 20, P- o o z , 1088. Leased from Sept. 190*4 to Jan. 1 IQQfi to
/ thP lease bein« ^ te r transferred to N orfolk
h %
Also owns one-sixth Interest In the Richm ond-W ashington Co t
Jointly with the Lou svllle & Nashville R R .. the Georgia R R ., 571 m\u£ '
In 1918 opened a lino from Sebring, F la., to M oore Haven 50 7n m?iV«,
V. 103, i>. 577. Now station In R ichm ond, V a. V . 108, p . 260. ‘ 7°
e
T ho Tam pa Southern R R . C o ., an auxiliary com pany In 1917 let con
tracts for a 50-in. lino from Tam pa, via Orient, to Palm etto and in AnSi
! S c . . ' 923 - '%*■ ' f - ' f - ' f - f T
190§ - ° 4 - ’ S f a t s ? *
1919 was operating from U ceta to Palm etta, 35.6 miles. V . 105 p. 2 lw ! 1 p c?
T he 1st 6s are guar. p . A I. b y N orf. So. R R . (V . 105. p . 714).
O R G A N IZA T IO N . On April 18 1900 absorbed by consolidation c\t 7 0
A T L A N T IC Q U E BE C & W E S T E R N R Y .— Sec page 132.
p. 840. 893). W ilmington & W eldon B r . A tlantic Coast Lino R R s of S 7o
and V a . and N orf. & Car R R
Florida Southern and Sanford & St P ctere'
ir
R R *~ S an ford to LUlIngton. N . C .f 24 m .;
burg were merged April 1903. V . 76, p. 918, 971. The AHnntin
K* O . Huffer Jr. controls the com pany. V . 94. p . 1249. S tock. $303 non
Lino C o. (of C onn.) Juno 30 1917 owned $18 590 6 00 ° c o ™ °
a r*
BondA ^ uable at SI 2.000 per mile. See table a b o v e . ’ F or
$17,640,000 having been distributed M ar. 10 1914 am ong ItsT tockh nidor,' p
year 1918, gross, $38,139; net, $4,831: charges, $19,573; b al., d ef., $14 466
■eo that co . above. V. 70. p. 893: V . 71. p. 1116 I310*V xs n s in
£
f
C . b u ffe r J r.. Baltimore. M d .; Sec. A T reas.. W m . C . C<Joke.’
In O ct. 1902 acquired 530.600.000 of the 560.000 000 Louisville ’ a
★ AUGUSTA & SAVANNAH R R .— Mlllen to Augusta. G a.. 53 miles
In
189o re-leased to Cent, of Ga. for 101 yrs. at 5 % on stock .— (V . 106. p. 7 0 9 .
H as
a
coi“
STO C K .— A tl. Coast Line of V a. class A (R ich . & Pet. ctfs ) tax-cxcm nt
stock was assumed as so much of the com . stock o f the new com pany
Pt
D IV S. (% ) — ’0 5 .’06. '07. '08. '09. ’ 10. ' l l . '1 2 -T 4 >15 '1 «
-17
-io
C om .(Incl.01.A .) o6 6
6 6 5K 6W 6
6 7 yrly
5 5 ' 7 l? ->19
Also In 1905 2 0% In com . stock scrip and 5 % In A tlantic Coast r
certificates o f Indebtedness. V . 8 l . p . 1558
ft Inc SdM 3V nato in
Jan. In A tlantic Coast Line R U . 4 % certificates o f ln d ebM n ess% P
B O N D S .— In April 1914 the Unified M ortgage o f 1909 was cin<mrt
a new
GenoralUnlfied M ortgage w m made nerm lttln<?f?^nw
the mortgage o f 1009) tho Issuing o f bonds in s e rle ^ W a rlo u s r S t e Sf In tS iet
T ho old Unified 4s hold b y tho R R . C o. and tho A tla n ta C o a s t ! Inn c l*
($21,330,000 and $3,008 000) were exchanged at once for now Series A
4 J^s, $ for $, and a similar exchange was offered till Juno 1 101 R t n t u n
$187,000 old unified 4s held b y tho public. V . 98? p . % 1 , 1070 , 1154, 1243°
4%
$200,000,000
★ AUGUSTA SOUTHERN R R .— Owns from A ugusU to Tennille Ga
82.5 miles. The Southern R y . in M arch 1917 sold its m ajority interest
Georgia A Florida R R . (which see). V . 73. p. 343. Governm ent “ £
1
ti°n whUe under Federal control. $22,587 p. a. V. 108, p 76 C m S
$400,000; pref.. $350,000; par, $100. The 1st M . bonds lnt. due J ^ ?e l i o i s
was paid o n o r -a b o u t A ug. 29. V. 107. p. 905. Year ending D ec 3 1 1916
gross. $181,830: net. $28,091: other incom e, $12,304; rentals $42 921- b a l ’
d ef., $2,526. Pres., Franklin Q. Brown o f R edm ond A C o - Federal M e r ‘ ’
AV. A . AVinburn. Savannah. G a.— (V . 108, p . 76, 682 )
’ eaeral A1^r -*
★ A U qU STA UNION STATION CO.— Owns union passenger station at
Augusta. Ga.. used b y all roads entering the c ity , the latter under their
operating contract providing for Interest on the bonds and 4 % dividends on
14
★ Government
Control.
APrlvate
Control.
RAILWAY STOCKS AND BONDS
R A IL R O A D C O M P A N IE S
(For abbreviations, A c ., see notes on first pageJ
M iles Date
Road Bonds
Baltimore & Ohio— Comm on stock $210,250,000-------Prel stock 4 % non-cum authorized $60.000.000____
P rior Lien mtge gold (closed) not ca ll____Ba.xo* &t 1,085
F irst M gold red at 105 after July 1923- . U b.xc *Set 1.667
S ou th w D lv lst M $45,000,000g............... ........ .F xc*& r
922
Pitts June & Mid Dlv $20,000,000 1st M g .C e.xc* &r
380
P L E 4 W V Sy3 ref g red 100 after 1925..lJn.xc*&r 1,645
C onvertible bonds redeemable (te x t)------Ce.xe*&r*
Ref&GenM Sor A g (call, all 105 b e g ’2 5)yG c*&r* 4.508
Toledo-Cincinnat D lv ./S e r. A call 10244-Bayc*& r*
toxt
1st Sc R ef M tg e ____ )Ser. B call l0 5-B a yc*& r*
text
C ollat trust M (d osed ) g call 101 (Coal & C oke R y ) - - Secured notes call par (V 106, p 2755)______ U s.c
Sec notes $18,500,000 (21oans) bank loans $4,000,000
Underlying Toledo A Cincinnati Div. M tge.—
Cln Ham Sc Dayton 2d (now 1st) mtge gold__Fxc*
60
60
General mortgage $7.800.000 gold ..... ........ ........ xc*
aC II & D R y 1st & R e f M , part guar. ..Ba.xc*&r*
All
Equipm ent trusts Ser A due $116,600 sem i-annBa.x
—
Plqua Sc T ro y 1st M $250,000 gold guar p & 1— xc
9
D ayton & M ichigan (leased) com stock (guar)____
Preferred (8% guaranteed) endorsed__________
1st M gu p & I end ext In 1911 red 10244 beg ’ 17-C
141
Bonds Underlying Pills June A M id Div M 3 44*—
Cent Ohio $2,500,000 con 1st M (1st loan)g MeBa.zc
143
Pittsburgh Junction 1st M g o l d ____________ Ba.xc*
6
Pittsburgh Junction 2d M gold ______ _____ Ba.xo*
6
Bonds Underlying Pittsburgh Lake Erie A West Vir Oinia
198
CJlev L or Sc, Wheel cons M (now 1st) gold .U sm .xc*
198
General m ortgage g redeem 1 0 5 ____________ N.xc
198
Cons R ef M gold red at 102 V4--------------------- Eq.xo
Cleveland Term & Valley 1st M gold guar. Ba.xo* &r
83
Ohio * Little Kan R y 1st M $250,000 red 105 g — z
72
Ohio River 1st M g ______ _________________FP.xc*
166
General m tge gold 1st on 39 m iles____________ xc*
208
Rav Sp & G1 1st M g guar p Sc. 1__________FP.xc*
33
Huntington & Big S 1st M g g u a r____________ xc*
11
4K
Plttsb Cl ft Tol 1st M g ___________________________ x
Ellwood Short Line 1st mtge g o l d ______________ (]x
3
b In addition $8,711,550 pledged as part collat. for Pitts.
1898
1898
1899
1898
1901
1913
1915
1917
1917
1919
1917
1918
1887
1892
1909
1910
Var
1899
1871
1871
1881
Par
Value
Amount
Outstanding
$100
100
500 See
500 Sec
600 &o
500 A c
1,000
500 See
$151945618 See text u
58.863.179 4 hi 1918 M
74.909.400
3 44 g J
81 .996.000
4
4 g
44,991.980
3 44 g J
56.124.950
3H C
43,000.000
4 g
M
63.250,000
4 44 g M
60.000.000
J
5 g
J
10,974.000
4g
5,000,000
J
5g
3,000.000
A
6 g
7,500.000
J
5 g
22.500,000 6 % disc
100 See
100 Sec
1,000
1.000
1,000
1.000
S & £
1,000
1,000
CO
50
1,000
Rate
%
2,000.000
444 g
3,000.000
6 g
4
218.000
348.000
5
165.000 444 Sc 5
7.000
4 g
2,396.950
344
1.21 1.250
8
2,728.000
444
When
Payable
J
.1
J
J
&
A
A
*
&
c
&
&
&
Sc
&
&
&
Last Dividend
and Maturity
S
s
Jli
Oil
J1l
M ch 1 1919 2 %
M ch l 1919 2 %
July 1 1925
July 1 1948
July 1 1926
N ov 119 2 5
N N ov 1 1941
H Mch 1 1933
D D ec 1 1995
J July 1 1959
J July 1 1959
(> April 1 1924
J July 1 1919
July 1 1919
[Vol . 108.
Places Where Interest ant
Dividends are Payable
Co’» O ffice, 2 W all St,NY
do
do
do
do
do
do
O o'i office, 2 W all St. NY
do
do
do
do
do
do
do
do
C o ’s o ffic e ,2 W all S t.N Y
do
do
Cos oflico N Y Sc Balt
U S M tge Sc T r C o , N Y
New York
J P M organ Sc C o , N Y
Sc J Jan 1 1937
ft D June 1 1942
Kuhn Loeb & C o ., N Y
Sc J July 1 1959
Sc D T o Juno 1 1920
M
A
Sc N
6c
O
Q— J
J & J
1.009.00(1
1,000
1886
4 44 g M & S
J
So J
934,000
1882
1,000
6 g
& J
1,000
243,000
5 g
J
1894
4s—
A Sc O
1,000
5.000.000
5 g
1893
890.000
1,000
J
So I)
1896
5 g
950.000
1.000
Sc J
1900
4 44 K J
1.000
8.301.000
1895
4 % M Sc N
1,000
228.000
Vf Sc S
1900
5 e
1.000
J Sc D
1886
2,000.000
5 g
1.000
2,941.000
A So U
1887
5 g
361,000
F So A
1890
1,000
6 e
1.000
303.000
J So J
1892
6 g
1,000
441,000
A Sc O
1882
6 g
300,000
5 v
J So J
1892
1.000
c Coups. M Sc N.:
L E. & W .V a . Sys. 4s.
N ov
Apr
Jan
Jan
Un Sav Bk & T r C o, Cln
1 1939
1 1919, \M Cincinnati, Ohio
do
1 1919, 2%
J P M organ & C o, N Y
1 1931
Sept 1 1930
July 1 1922
July 1 1922
Offloo, 2 Wall St. N Y
do
do
do
do
Oot 1 1933
do
do
June 1 1936
do
do
Jan 1 1930
do
do
N ov 1 1995
do
do
Mch 1 1950
do
do
June 1 1936
do
do
A pr 1 1937
>lo
do
Aug 1 1920
do
do
July 1 1922
do
do
Oot 1 1922
O ffice. 2 Wall St, N Y
Co's office ? W all St. NY
Jan 1 1922
reg. lnt. Q .-F .
• Reg u u . Q.-J
$6,124,950 Is In hands o f the public and $8,711,650 pledged under Pitts.
* A V O N QENESEO & MT. MORRIS R R .— M t.M orris to A von . N . Y 17.7
miles. Leased to Erie R R . Feb. 26 1896 In perpetuity; rental (alter 1911). Lake Erie & W . Va. 4s. Closed except to retire underlying bonds, see table.
3 44% on stock.— (See V . 63. p. 512; V . 62. p. 318 . 589.)
(5) Pittsburgh Lake Erie A West Virginia System m tge. refunding 4% gold
★ BALTIM ORE C H ESAPEAKE & ATLANTIC R Y .— Owns Claiborne to bonds (authorized amount $75,000,000) are a lien on 1,645 miles,
ucean C ity , M d ., 87.OR m .; Salisbury, M d ., to Fulton, 0.55 m .; from Clai form ing a direct connection with Pittsburgh, Cleveland, Falrport, Lorain
borne to Baltim ore. 44 m .. transfer Is made by water; steamer lines owned, and Sandusky, subject to underlying bonds outstanding thereon (see table
1,134 in.; total o f all, 1,221.61 miles. The Penna. and allied cos. own all a bov e). In D ec. 1917 $43,177,302 additional underlying bonds. Including
$8,711,550 Plttsb June A Middle D lv. 3 448. were held In trust as part se
the £1 000 000 com m on and 95% o f the $1..'.00,000 5% cum . pref. stock.
curity. T he unissued bonds are reserved to rotlro underlying bonds.
V . 92, p. 525. 593. D lv . on pref., 2 % M ar. 1 1905; In 1906, M a r., 3 % ;
V . 74, p. 266; V . 79. p. 2793: V . 80. p. 1423; V . 86, p . 479, 1528; V . 87,
O ct.. 2 % ; In 1907, M ar.. 3 % ; Sept., 2 % : in 1908. O ct., 2 % ; 1910. Jan.. 5 % :
Ben* 2 % ; 1911. Jan. 31. 3 % ; M ar. 31. 2 % ; Oct. 2. 3 % : 1012. July 1. p. 36; V . 88, p. 451. 685; V . 105, p. 715.
2 44 % : none since to Juno 1918. G ov t, com pensation reported as 886,647.
(7)
Convertible 20-year 4 44s $63,260,000. dated M arch 1 1913, will
^ A D V A N C E S ” A N D “ S T A N D A R D R E T U R N .” & c.— See page 5.
bo convertible Into com m on stock up to Feb. 28 1923 at. $110 per
L A T E S T E A R N IN G S .— / 191 8 ,-G ross, 81.436,440; net (before 87,505 share and redeemable beginning M arch 1 1923 at 10244- These 414s are
12 m os., Jan. 1 to D ec. 31.\ 1917--G ross, 1,281,365;
taxes,
)108,038 secured by the new blanket m ortgage below described pari passu with the
The stockholders voted on Jan. 26 1905 to acquire a m ajority of the stock
new bonds. See V 96. p 134. 200. 651. 715. 1088. 1421; V. 97 p. 727.
of tho M aryland Delaware & Virginia R y ., 77 m ., and guarantee $2,000,
Schuylkill River East Side 4s. V . 77, p . 1745; V. 81, p. 727.
000 of Its lirst retire, bonds. Sec that co., V. SO, p 116. 1058
General Mortgage o f 1915 due Dec. 1 1995 (V. 101. p. 1884).
In cal. year 1917 gross, $1,281,364: net, $79,837: other Income, 5 8 . (8) Refunding
Tho initial $60,000,000 5 % bonds o f this Issue was brought out In D e c .
018; chgs., $222,627; d ef., $134,773. Federal M g r., Elisha Leo, P hila., Fa.
1915 by Kuhn. I.ocb & C o. and Speyer & C o. See belmv: also V 101. p.
— V . 102, p . 1539; V. 105, p. 496, 605.
1884; V. 102. p. 975; V. 103, p. 1989. In Juno 1918 obtained from Ohio
★ B A L T IM O R E & C U M BE R LAN D V A L L E Y R R . E X T E N .— Waynes P . U . Comm ission authority to Issue an additional $20,000,000 when and as
b oro to Shippensburg. Pa.. 26.52 miles. Leased to Western Maryland R R . occasion requires. V. 106, p. 394, 2765.
for 50 years from July 1 1881, with privilege of renewal, for lnt. on bonds
Security.— Secured on practically entire system , 4,508 miles o f first track,
and dividend on stock, amounting In all to $38.730.— (V . 76. p. 665.)
and equipment or Interest therein, having In 19l7 a net value o f over
★ B A LTIM O R E & O H IO R R .— (See M a p .)— Operates from Balti $127,480.433. Also covers the passenger and freight terminals In Phlladelmore to Philadelphia and Baltimore to Chicago, Cincinnati and S t. Louis;
hia, Baltimore, Pittsburgh and Chicago and the freight terminals on
total mileage leased, owned and operated on D ec. 31 1917, 4,948 m. “ R oyal
taten Island. N . Y ., in Cincinnati and W ashington, as well as one-half
Blue Line” (see Central R R . of N . J.) gives access to New Y ork.
stock interest In the Washington Terminal C o. and one-half ownership
The system embraces, subject to m ortgages, the following lines:
o f join t yards at W ashington. A direct lien upon about 2.2S7 miles o f first
Pittsburgh & W estern_________ 204 track, and a lien, through the deposit o f bonds, and In most cases ail. and
PrM en 3 44% M .— (1,085m .)
48 In no case less than 96% o f stock, o f the co . owning remaining mileage.
B alt.to W heeling. B elpre,O ..& 0. 754 xPIttsb. Cleveland & T ol. Br__
50
Dumb, to Plttsb. & w . , &c ____ 331 xPlttsb. Palnesv. & Fair, B r__
Reservation of Bonds.— The mortgage reserves bonds to retire about $282.
lsl Mtge. 4 % — (682 miles)—
Monongahela River B r_________
37 000,000 prior liens on various parts o f the system and the $63.250,000 co n
83 vertible gold bonds |these last bolng secured by tho new mortgage pari
Balt, to Phila. and branches___ 133 xClev. Terminal & V alley_____
Chicago, 111., to A kron, O h io .- 364 xCleve. Lorain & W heeling B r__
assu with the bonds Issued thereunder) and provides for the reservation o f
W heeling to Cleveland, & o_. 198
Branches to F a irm on t,W .V a.,& o. 85
onds for construction, Improvements, new equipment and the acquisition,
xOhlo River Lines—
264 directly or Indirectly, o f properties and securities. T he right Is reserved to
South W . D U . 3 44% AT.—
W
est
Virginia
Short
Line
B
r___
62
refund
the Prior Lien 344s Into 1st M . 4s o f 1898 due 1948, and to extend
Belpre, 0 .,v la C ln o . t o S t .L ..& c . 922
xOhlo So Little Kanawha B r___
72 the due date o f tho 8. W. D lv. 344s to date not later than July 1 1960.
PUts. Jet. 3 44% M .— (380 miles)
70
xOther purchased lines_________
T he authorized Issue is limited to an amount which, together with all the
Bellatre to Midland City, Ohio)
Lines Under OtherMtges.—
prior debts o f the Railroad C o ., after deducting therefrom the bonds re
Shawnee to Sandusky, O h lo _ .j 374
6 T oled o D ivision_______________ 394 served under tho provisions o f the mortgago to retire prior debts at m aturity,
Pittsburgh Junction R R ______
P .L .E .A W .V .S y sA % M .C l,Q 4 5 m .) Sundry branches, & c__________ 320 shall not exceed 3 times the then outstanding capital stock, with the addi
tional limitation that when the aggregate amount o f the bonds outstanding
W est Virginia A Pittsburgh
177
T otal o f a ll............................. ..4 ,9 4 8
• Includes if79 m .. also covered by Pitts. Jot. 1st
'
M.
'
a See this co m p a n y . and the bonds reserved to retire prior dobts shall be $606,000,000, no addi
tional amount o f bonds shall thereafter be issued, except tho bonds so re
x The com pany has purchased these lines.
In M arch 1918 opened Long Fork R y ., 26 miles, and In July to o k over served to retire prior debt, without tho further consent o f the stockholders
o f the railroad com pany, and such additional bonds may bo issued only to
14.63 miles, running to mines. V . 107, p 180, 1283.
Owns B . & O. C hic. Term . R R ., $8,000,000 sto< k and $32,000,000 o f Its an am ount not exceeding 80% o f cost o f work done or property acquired.
4 % bonds. See below. Sandy Valley & Elkhorn R y. S eoV . 100. p .3 0 7 .
Toledo-Cincinnati Division Bonds.— In July 1917, following foreclosure
E ffective April 28 1918, was ordered by DIrector-Genoral o f Railroads to sales, 394 miles o f the former Cincinnati H amilton & D ayton R y. System
use the Penn. R R . passenger station in N . Y . C ity . V . 106, p . 1658, 1795. was reorganized per plan In V . 102, p . 1059; V. 105, p. 715, 908, as the
H IS T O R Y .— Receivers were appointed In Feb. 1896, but In 1899 reor T oled o Sc Cincinnati R It. C o ., whose outstanding securities ($5,000,000
ganized without foreclosure, per plan In V. 66, p. 1235. See also V . 67, capital stock, $16,250,500 First & R ef. M tge. bonds and $20,000,000 A d
p. 688. 1200. 1356; V, 95, p . 681, 1121 1744: V . 96. p. 134; V . 97, p . 363. justm ent Sc Im provem ent bonds) woro then acquired by the B. Sc O. R R .
The purchase o f the C ln. Ham . Sc D ayton (now T oledo & Cine. R R .) on The aforesaid 394 miles em braco: M ain line Cincinnati to T oled o, 201 miles,
July 19 1917 added 394 miles to road operated (see “ B onds” below: also including 141 miles leased from D a yton Sc M ichigan R lt. (a very profitable
V . 103, p. 1991; V . 107, p. 1283 ) Subsequently tho T oledo & C ln . R R .
lease; see caption o f that com pany); T ontogany to North Baltimore, 19
acquired the form er Delphas Division o f the C . H . & D ., 95 miles In length, miles; Deshler to Findlay, 18 miles; Hamilton to East M iddloton, 13 miles;
now known as D a yton T oledo & C hicago R y .; see T oled o & Cincinnati P lq u a to T r o y , 8 miles: D ayton to Ironton Jet., 123 miles; other. 12 mllos.
R R . In V. 107, p. 403. On Feb. 1 1917 also acquired entire capital stock
T he B . & O. R R . having acquired all the securities Issued by the Toledo
o f Coal & C oke R y . (which see), 197 miles, operated separately.
Sc Cincinnati R R ., made a deed o f trust covering tho same to secure not
R E A D IN G CO., & c.— In 1901 $68,565,000 (virtual control) of the $140, exceeding $35,000,000 collateral bonds, which are Intended ultimately to
000,000 Reading Co. stock, consisting of $12,130,000 1st pref., $28,530,000 be made as far as possible a dlroct lion on this division. O f theso new u . Sc
O. bonds, $11,250,450 o f 4 % and $5,006,000 o f 5 % were Issued forthwith
2d pref. and $27,905,000 com ., was acquired Jointly with the N ew York
under tho plan. T he remainder wore reserved to retire at m aturity or
Central R R ., each co..takin g one-half, but In 1904 each sold $3,950,000
earlier the bonds undisturbed by the plan as shown In table above, or for
o f tho com m on. V. 76. p. 101: V . 80, p. 1856.
acquisition o f underlying stocks, branch lines, branch lino bonds, aid for
S T O C K .— Pref. stock, see V . 71. p. 1166. 1143: V. 72, p. 1186.
U nion Pacific R R . D e c. 31 1917 ow ned $3,594,035 com m on and $1,805, refunding additions and betterments, or to acquire First & R ef. M tge.
bonds o f now com pany issued therefore. V. 106. p. 2364.
992 preferred
D I V ID E N D S . 1900. 1901-04. 1905. 1906. 1907-14. 1915-17. 1918-19.
Collateral Bonds (Coal A Coke Ry.)— This $3,000,000 (closed) Issue was sold
C om m on..........(.%) 2
4 yrly.
444
-544 6 yrly.
5 yrly.
text in M arch 1919 to provide (along with treasury cash) for $5,000,000 1st M .
P re fe r re d ____ (% )
4
4 yrly.
4
4
4 yrly. 4 yrly.
4
5s o f Coal & Coke Iiy ., maturing April l. (See that co .) T he now issue is
The pref. dividend was paid as usual Sept. 11 1918 and M arch 1919, but secured b y pledge o f all tho $5,O0O,OOO 1st M . 6s o f Coal Sc Coke R y . due
ow ing to delay In the signing o f the contract for Governm ent operation
1924. See V . 108, p. 1273.
the com m on dividend due Sept. 1 1918 was not paid until Feb. 1 1919, when
N O T E S .— As to provision for notes m aturing in 1918 see Gen. Finances
on ly 2 % was distributed. On M ar. 1 1919 the com m on again received 2 % . below.
V . 108, p. 377; V . 107, p. 2374, 1747, 400, 295.
E Q U IP M E N T B O N D S .— As to equip, bonds o f 1917, see V . 104, p.1386.
B O N D S .— (1) Prior Lien 3 1 4 % , a first lien on main line and branches,
Equipm ent bonds o f 1915, see V . 102, p. 2341; V. 103, p. 144. E qu ip
Parkersburg branch and Pittsburgh division, about 1,085 miles of first track
ment trusts o f 1917, V. 104, p. 1386. Jamison O. & O. C o. car trusts,
and 1,737 rap ’s of se-ond, third and fourth tracks and sidings, and also all guar. p. & I. by B. & O.; V . 103, p. 410.
the equipment now or hereafter acquired. T otal auth., $75,000,000. See
"A D V A N C E S ” A N D “ S T A N D A R D R E T U R N ," & c — See page 5.
application to list. V . 69. p. 30; V . 78. p. 1906; V . 86. p. 1628; V. 86. p. 36.
(2)
First M . 4 % Bonds. Due July 1 1948; a first lien on the Philadelphia, The Director-General from April 1 to D ec. 31 1918 advanced the com pany
Chicago and Akron divisions and branches and the Fairmont Morgantown & $35,875,000 (V . 107, p. 1344, 2156; V. 108, p. 266) and sanctioned capital
Pittsburgh R R .. covering about 582 miles of first track and about 882 miles outlays o f $16,022,171; equip., $27,336,132; extensions, $450,000, with
o f second, third and fourth tracks and sidings; also on the properties covered further $651,632 on Staten Island R . T . R y . (V . 106, p. 2194, 2410; V. 107,
b y the B. & O. T erm . Mttae. ofhh894. all owned by the B . & O. and Balti p. 958). T he W ar Finance C orporation also April 1, It Is understood,
m ore Belt R R . Also a lien, subject to prior m tge., upon main line, &c. loaned tho com pany $12,050,000.— V. 108, p. 110.
In June 1918 obtained from the Ohio P . U . Comm ission permission to
V . 69, p. 30: V . 79. p. 211; V. 97. p. 297, 594; V. 102, p. 1435.
Issue $26,000,000 Refunding & General M tge. 5 % bonds to be sold or pledga
Total issue closed at $82,000,000 (V . 104. p. 1044). except for $75,000,000
from time to time as occasion requires. V . 106, p. 2648, 2755.
reserved to retire prior lien bonds In 1925.
Tho $ 22 ,560,000 notes due O ct. 1 1918 and extended to Feb. 1 1919,
(3) Southwestern Division 1st M . 3 Ms. Virtually a first lien
were again extended for a period o f five m onths, when it is hoped the
upon former B . & O. 8. W . system , 922 miles o f 1st track and
670 miles o f 2d track and sidings. All Issued----------------------- 45,000,000 com pany m ay bo in a position to d o some permanent financing. T ho notes
are held b y banks and banking houses, and with tho promise o f aid from tho
(4) B . & O., PUtsb. Jet. A M id. D U .3 M S . E xpected to be ul
W ar Finance C orporation, Kuhn, Loeb & C o. and Speyer & C o. wero able
tim ately a first lien upon the railroads of the Central Ohio
to extend tho obligations. V . l0 8 , p . 478, 1717.
system and Pitts. Jet. R R . C o.. 380 miles In all. T otal____ $20,000,000
§
C
"HAMILTON
>Pcntwdter
S/Madl*on
Wauk*
Janesville*
^..^^GalenSc
Independence
rnnd'v
(MILWAUKEE G
Ilavcn
(Rockford'
^CedtrR»p!d«
iVENPORT/(
c \kIsUm4i
f*
JUiacatine^
WILKCS-tM
\ W
.ShelbJ
R AILW AY STOCKS A N D BONDS
C*NTQNj
LDclohl
J'UnVej*"'*
«jsl
P N E3
^CAKDIN /
Quincy
J E Rsg/K Y
IINGTON/^'” 10’
/ATLANTICCll
Rchfield/
>ORTS\
'CRSONVILLC
V^raukfoi
Lexington]
iDanvOe
yriowSprir
W21iam*viJlej u"
PoplarBla/Tp Ua;.
\ KcooeJf?' /
Walton
Je^ico-
NorUnat
-^ N ashville
'wnsoo
Colombia/
r - •■
lATTANOOGAi
llluntsvfl>
B A L T IM O R E a O H IO
’kiarphy
SYSTEM
l
Ncy Albany*'
(UJIINGT01*
Columbia
Brerr'
a ™.,
1919.]
b ir m in g h a i
ifksoa
Jlonlsonrtl
Hazfehor*^
Biockba’
Ic.Haftera^
SAVANNAH*
Tiflooi
BRUNSWICK
Baltimore a Ohio R.R.
Baltimore a Ohio Southwestern R.ft
Baltimore a Ohio Chicago Terminal R. R.Ca
Cincinnati. Hamilton a Dayton Ry. Cn
and Connections
It)
★ Government
Control.
APrlvato
Control.
RAILWAY STOCKS AND BONDS
RAIiJlOAD COMPANIES
[For abbreviations, &c., see notes on first page]
Miles Date
Road Bonds
Balt & Ohio (Concl)—
W Va & P 1st Vf g 5s scaled, red at par__ Me.Ba.xo*
177
__
Equlpbdsdue$ 1,000.000 yly g gu(V94p349) G Pxo* &r
do due $1,000,000 yrly (V 97. P 802)-G P.xc*
do due $500,000 yrly call 102&_______ GPc*
do due $1.000.000 yrly call 102)4-X --G P yc*
Leased Lines and Other Securities—
Schuylkill River E S RR 1st M g guar p A lendor.x
9
Staten Island Ry 1st mtge {1,000,000 g o ld .. Ba.zo*
13
Hampshire So 1st M gold________________________
37
Coal & Coke R y ., see that company, also text below
Jamison C & C car trusts $100,000 yly guar___ UPi
Balt & Ohio Chic Term RR— ChAGtW IstM gass’d.vk
City of Chicago purchase money mtge assumed___
First mortgage $50,000,000 authorized_________ x
Baltimore & P otom ac—See Phila Balt & Wash.
Bangor & A roostook —Common stock____________
Pref stock 7% cum $10,000,000 auth_____________
First mortgage ($16,000 per mile) gold___ Gjtxo*
211
Second mortgage gold................................._.U*mxx
211
First mtge Piscataquis Dlv $1,500,000 g -.G .x x o *
77
V Bur Ext 1st M $500,000 g (V 69, p 952).G.xxo*
33
Aroostook Northern 1st M $225,000 gold ..G.xxo* 15)4
Consol refunding mtge $20,000,000 gold__ OB.xo*
412
Medford Ext 1st M $1.000,000 g(V84.p692) Us.xxo*
28
Washburn Ext 1st M g (V 90. p 848, 913).Ce.c*xx&r
55
St Johns Rlv Ext 1st M $l,80O.OO0 guar Ce.xxo*&r
60
Car trust Ser E-F $19,000 or $20,000 yearly______
Guaranteed by Bangor A Aroostook
Nor Me Seaport 1st M guar p Sc 1 end__ Usm.c*&r
54
Van Buren B'ge 1st M g gu p&l end red text Usm.c*
Bath & Hammondsport— First mortgage__________ z
10
Second mortgage_______________________________ z
10
Bay o f Oulnte Ry— 1st M gold s f red 105 text___
Beaum’tA Gt Nor— 1st M g $17,500 p m red 1 0 2 )4 .-0
49
Beech Creek—Stook (guar 4% by endorsement)___
164
First mortgage gold guar p Sc I (endorsed)Col.xoAr
16-1
Second M for $1.000.000 g guar p A 1 (end) . Un.xoAr
184
Coupons payable In NY at Brown Bros. & Co.; in Bosto
Beech Creek Exten— 1st M $4,500,000 g gu pA lQ.xo*
56
Beech OreeV consol M *20.000,000 g gu p&I G.o’ &r
135
1890
1912
1913
1916
1917
Par
Value
Amount
Outstanding
$t,000 $3,864,000
1.000 3.000.000
4.000.000
1.000
1,000
4.000,000
1,000
8.000,000
Rate
%
4g A A
4)4 g F Sc
A Sr.
4)4
M
4)4
4)4 x A &
1903
1893
1909
1,000
1,000
500
1916
1886
1888
1910
1,000
300.000
4)4
394.000
5Z
650,000
5
B
&
O
RR
32,000.000
100
100
1,000
1.000
1,000
1,000
1.000
1.000
1,000
1,000
1.000
1,000
3,860,000 See text
3,480,000
7
3.360.000
5z
106,000
5g
1,500.000
5g
500.000
5g
225,000
5g
6,331,000
4g
1.000.000
5g
1,618.000
5g
1,632,000
5
100,000
5
1893
1895
1899
1899
1897
1901
1907
1909
1909
'll'-1 5
1905
1914
1889
1893
1902
1909
1836
1892
n at Le
1901
1906
5,000.000
511.000
5.000
1,000 4.743,000
1,000
250.000
1,000
100.000
1.000
200.000
1,000
780.000
1.000
883,000
50
6.000.000
1.000
5,000.000
1.000
l.000.000
e. niggln son & Co.
$1.000&c $3 500.000
1.000 &c
3.964.000
The Maryland P. S. Commission in Jan. 1919 sanctioned the issuo of
approximately $10,000,000 o f 6% Refunding & General Mortgage bonds of
1915 to reimburse the treasury for improvements.
LATEST EARNS.— J1918.-Gross, $174,191,448; net (bef. $13,599,268
12mos., Jan. 1 to Dec. 3111917-.G ross, 133,613,321; taxes),
30.589,107
In Dec. 1918 the negotiations with respect to the contract with the Gov
ernment had not been concluded, but had progressed sufficiently so that
the income for the year 1918 was officially approximated about as follows
(dividends inserted by Ed.) (V. 108, p. 2374.)
Federal compensation and non-operating income_____________ $33,300,000
Corporate expenses, rentals, interest on bonds and other deduc. 22,100,000
War taxes, probably something over_________________________ 1,000,000
2,354,000
Preferred dividends for year________________________________
Common dividends (2% Feb. 1 and again Mar. 1 1919)____ (4% )6,077,825
When
Payable
4g J
4)4 Z J
J
5
5Z
6g
6
6
5g
5g
4
4g
5g
M
J
M
A
O
A
O
N
O
Last Dividend Places Where Interest and
and Maturity
Dividends are Payable
Apr 1 1990
Co.s office, 2 Wall St N Y
To Feb 1 1922 Girard Trust Co, Phila
To April 1 1923
May 1919 to ’26 New York
Apr 1 1920 to 27
do
do
& D June 11925
Sc n June 1 1943
Sc j July 1 1934
&
A
So
&
[V ol . 108.
518 Walnut St, Phila
N Y , Farm L & Tr Oo
N May 1919 to '21 Union Tr Co. Pitts. Pa
n June 1 1936
Bankers Trust Co, N Y
N May 1 1938
To City of Cbloago
o Apr 1 1960
A Sr o Apr 1 1918 2)4
A & o Apr l 1918 3)4
J Sc J Jan 1 1943
J & J July 1 1945
A Sc o Jan 1 1943
A Sc o Jan 1 1943
A Sc
Oot 1 1947
J A .1 July 1 1951
M Sc N May 1 1937
K Sc A Aug 1 1939
P Sc A Aug 1 1939
seml-ann To 1921-1925
Checks mailed
do
do
Guar Trust Co, New Y ork
do
do
do
do
do
do
do
do
See “ x” below
Brown Bros & Co. N Y
do
do
do
do
PennCo for Ins,&c,Phila
A
M
J
A
J
J
Brown Bros Sc C o. N Y
do
do
50 Churoh St. New York
o
Sc
St
St
Sc
Sc
A
QJ A
J A
3)4 g A
4 cr A
A
A
O Apr 1 1935
H Sept 1 1934
D Juno 1 1919
O Apr 1 1923
.12 Jan 2 1927
J July 1 1939
J Apr 1 1919 1%
J July 1 1936
J July 1 1930
O Apr 1 1951
O Apr 1 1955
Can Bk of Com . T or-N Y
61 Broadway. New York
Grand CentTermlnal.NY
do
do
do
do '
Grand CentTermlnal.NY
do
do
REPORT.— Fiscal year now ends Dec. 31. For 1917, seo V. 106. p. 1788*
Cal.
Operating Total Net
Interest,
Pref.
Comrpon
Balance,
Year— Revenue.
Income.
Rents, &c. Div.
Dividends. Surplus.
1917----- $4,384,561 $1,622,331 $1,129,157 $43,166 (4)$154,400 $295,607
1916----- 4,013,408 1.748.578 1.252,566 ........... (3) 103.458 392,554
Pres, and Chairman of Executive Committee, James Brown o f Brown
Bros. & C o., N. Y .; Treas., W. F. Cram; Gen. Mgr. under U. S. Govt.
P. R. Todd.— (V. 107, p. 290, 1836; V. 108, p. 1273.)
★ BATH & HAMMONDSPORT R R .— Bath, N. Y.; to Hammondsport,
N. Y .. 10 miles. Control acquired by Erie RR. in 1908. Stock, $100,000.
For cal. year 1916, gross, $38,332; not, $7,014; other Income, $226;ln t.,
rentals. &c.. $18,506; bal.. def., $11,268.— (V. 79. p. 1954.)
BAY OF QUINTE R Y .— Owned Doseronto to Sydenham, 25 miles:
which was rebuilt with some changes in line and used as C. N. Ry. main
line
between Toronto and Ottawa; Yarker to Bannockburn, 55 miles.
Balance (over common dividends paid in 1919)____________ $1,768,175
In 1912 Canadian Northern Railway acquired control. V. 98, p.
R E PO RT.— For cal. year 1917, V. 107, p. 1287. 1378.
1601. Stock, com., $930,000: pref., 6% non-cum.. $465,000; par, $50.
Cal. Year
Cal. Year — Years end. June 30— Divs. on com. 1907 and 1908, 3% ; prof., 6 % . Cum. sinking fund, $10,000
,
1917.
1916.
1916.
1915.
yearly to redeem each 5 years $50,000 bonds by lot at 105; $50,000 retired
4,724
4,712
4,539
4,535 in 1907, 1912 and 1917. Office, Toronto, Ont.— (V. 104, p. 255.)
Average miles.............
Freight......................... .$102,365,763 $95,596,677 $88,476,032 $70,780,808
Passonger....................... 19.990,255
16,743,708 14,971,472 14,059,940 ★ BEAUMONT & GREAT NORTHERN R R .— Owns Livingston, T ex.,
all. express, &c........... 11,257,903
9,453,456
8,221,176
6,975,048 to Weldon, 49.3 miles. Stock, $50,000, all acquired In 1912 by Missouri
Kansas & Texas R y., which guaranteed the bonds, principal and Interest.
Total gross.$133.613,321$121,793,842$U1,668.680
$91,815,798 M . K. & T. Ry. of Texas leases road for 99 years from M ay 1 1914. In
Net earnings............. ..830.589,107 $34,013,688 $32,348,876 $27,890,290 M ay 1918 Interest was being regularly paid when duo. Federal M gr..
Oper. inc. (after taxes). 26,112,068 29,804,087 28,639,064 24,581,697 J. L. Lancaster, Dallas, Tex.— (V. 98, p. 999; V. 107, p. 180.)
Other income................. 6,425,928
6,205,969
5,844,375 5,260,848 ★ BEECH CREEK R R .— (See Maps New York Central Lines.)— ROAD.
Shore, Pennsylvania, to Mahaffey, 112 m.; branches to Phlllipsburg,
Total net income------$32,537,996 $36,010,056 $34,483,439 $29,842,545 Jersey
mines. &c.. 52 m.; total, 164 miles. Leased In 1890 to N. Y . Central A
Interest, rents, &c------- 24,442,766 22,825,665 20,867,223 19,119,297 to
H .R . R R . for 999 years at lnt. on bonds and 4% on stock. V. 68. p.
Pref. divs. (4% p. a . ) . . 2,354,527
2,354,527
2,354,527
2,354,521 872.
mostly coal and coke. See guaranty. V. 52. p. 570. The
Com. divs. (5% p. a . ) . . 7,597,148
7,597,226
7,597,226
7,597,253 bonds Carries
are endorsed with N. Y. Central’s guaranty of prin. & lnt. See
V. 52, p. 570. Assumed by N. Y . Central on consolidation/Dec. 23 1914,
Balance................-def.$l,856,445S.$3,054.008S.$3.664,463 sur.$771,474
Guarantees Interest on $717,700 Clearfield Bituminous Coal 1st 4s due
Exec. Committee.— L. F. Loree, Acting Chairman; Pres., Daniel Willard; Jan. 1 1910— see that co. under “ Industrials."— (V. 106, p. 497.)
V . -Pres., G. M . Shriver; Treas., E. M . Devereux: Sec., C. W. Woolford.
Federal Manager in chargo o f Eastern lines, C. W. Galloway, Baltimore, ★ BEECH CREEK EXTENSION R R .— (See Maps N. Y. Central Lines.)
M d., o f Western lines, I*. N . Begicn, Cincinnati, O.
—Clearfield, Pa., to Keating, 52.14 m.; Curry to Curwensvllle, 15.77 m.)
Directors.— R. Brent Keyser; Robert Garrett and Hugh L. Bond Jr., Dimellng to Irvona, 26.76 m.; Mahaffey to Arcadia, 13.67 in.; branches.
Baltimore: John G. Shedd, Chicago: Felix M . Warburg, James Speyer, 27.02 miles: total, 135.36 miles. A low-grade coal lino, leased to N. Y.
W. Averill Uarriman, L. F. Loree, Charles A. Peabody. John R. Morron, Central & II. R. RR. (which owns entire $5,179,000 stock and $3,964,000
N. Y .; J. G. Schmidlapp, Cincinnati, and F. II. Goff, Cleveland. Office, consol. 4s) for 999 years from June 1 1905, bonds being guar., p. & 1. Ortho
consols, $3,500,000 Is reserved to retlro, $ for $. old bonds. V. 80. p. 1174,
2 Wall St.— V. 108, p. 266, 377, 478, 578, 972, 1273,. 1390.)
1479; V. 8 l, p. 30; form of guaranty, V. 82. p. 1267. Assumed by N. Y.
★ BALTIMORE & OHIO CHICAdO TERMINAL RR.— Property con Central on consolidation. Dec. 23 1914.— (V. 82, p. 1267.)
sists of passenger and freight terminals in city of Chicago, lines of railway
BELLINGHAM & NORTHERN R Y.— See page 132.
leading thereto and a belt line around the city; also 760 acres of land In
and adjacent to the city, of which 50 acres are In the centre of the business ★ BELT LINE RY, OF MONTGOMERY.— Owns real estate and a bolt lino
district; also includes 7.500 ft. of dock proporty on Chicago Rivor. Total In Montgomery, Ala., about 1 mile of track on Tallapoosa, Bell, Perry and
track operated, 300 miles, of which 266.49 is owned, 83.05 of the latter Columbus streets. Atlantic Coast Line R R . pays an annual rental oqual to
bond Interest and difference between taxes, Insurance and cost of operation
being first track. Total first track including trackage 91.46 miles.
and gross earnings from others than the Atlantic Coast Line. Atlantic
“ ADVANCES” AN D "STA N D A R D R E T U R N ,” &c.— See page 5.
Coast Line RR. owns entire issue of $200,000 stock; par, $100. V. 92, p.
HISTORY.— Successor to Chicago Terminal Transfer R R ., foreclosed In 1242; V. 93. p. 43. Year ending Dec. 31 1916, gross, $19,181; net, $12,250;
1910. V. 90, p. 166. 108, 235, 625. Stock, $8,000,000. all owned by B.&O. lnt. on bonds, $12,250; bal., none.— (V. 93, p. 43.)
TEN AN TS.— Balt. Sc Ohio, Chicago Great Western, Chicago Hammond
A Western B y. (Indiana Harbor Belt). Suburban R R . (Chicago & West ★ BELT RAILROAD & STOCK YARDS OF INDIANAPOLIS.— Owns 14
Towns), Pere Marquette, Ch. Terre Hauto & S. E. Ry. and Minneap. St. miles of belt road. &o. Leased for 999 years to Xnd. Unlon-*-whIoh see.
DIVIDENDS— Com. f’09. '10. 1911. ’ 12. ’ 13. ’ l l . ’ 15. ’ 16. ’ 17 ’ 18
Paul & Sault Ste. M . V. 77. p. 948, 2158; V. 79. p. 901; V. 96, p. 486.
Total minimum rentals from tenants, $1,335,687 annually. V. 79, p.2084. Bji caik,years- — ------% l 6
0 3&50stk 10 13 14 13 20
16 18
In
1919, Jan., 6% ; Apr., 2% .
BONDS.— Of the 1st M . bonds of 1910, the $32,000,000 outstanding are
Mortgage trustee. Union Trust C o., Indianapolis. V. 89. p. 40: V. 92.
owned by B. & O. RR. and pledged under its Mtgo. V. 90, p. 1295.
Pres., S. E. ltauh, Indianapolis, Ind.— (V. 102, p. 1249: V. 106, p. 394.)
BANGOR & AROOSTOOK R R .— (See M ap.)— Stockton Harbor, M o.,
northerly to Van Buren, with branches; total Dec. 31 1917, 625.82 m. ★ BELT RAILWAY (OF CHATTANOOGA)— Owns 49 miles or belt
railroad In Chattanooga, Tenn. V. 67. p. 72.
(568.00 owned in fee.)
Leased till July 1 1945 to Alabama Great Southern R R .; rental guaran
ORGAN IZATION.— See V. 66, p. 855. Owns stock of and leases for
to meet Interest on first rntge. bonds, taxes and maintenance. STOCK
999 years Northern Maine Seaport R R ., La Grange to Searsport, 54.1 m. teed
$300,000. owned by Alabama Great So. R R . There are also {24,000 2nd
"AD VA N C E S” AND “ STANDARD R E TU R N ,” &c.— See page 5.
income M . 4s (tax-free), due 1945, red. at par. lnt. at 4% paid in full to 1918.
Annual compensation under Govt, contract, including Van Buron Bridge ★ BELVIDERE DELAWARE RR.— Owns from Trenton, N. J., to MaC o., $1,575,172.
nunka Chunk, N. J., 67 miles; Flemlngton R R ., &o.. 13 miles; total oper
D IV ID E N D : 1905. 1906. 1907 to 1912. 1913. 1914. ’ 15. ’ 16. ’ 17. ’ 18.
ated, 80 miles. Leased to United Companies and, March 7 1876, trans
Common,
1)4
2
4 yearly.
3
3)4
3
3
5 A p r.2 H
ferred to Pennsylvania R R ., which owns $244,600 of the stock. Net
STOCK.— During 1917 issued $3,480,000 o f a now $10,000,000 issue of earnings paid as rental.
Dividends.— 1897 to 1905, 5% yearly: 1906 to 1911. 10% yearly; 1912,
7% cumulative pref. stock and also an additional $411,400 common stock,
7% ; 1913, 6% : 1914, none; 1915 to 1918, 4% yearly.
(see below). V. 105, p. 1616; V. 106, p. 1788.
BONDS.— All of the outstanding bonds are secured by the consolidated
BONDS, &c.— The proceeds of the new stock issued in 1917 were used
to retire $2,000,000 2-Year 5% gold notes, called for paymont Oct. 1 1917, mortgage of 1875 for $4,000,000; sinking fund. 1% of outstanding bonds If
and to reacqulro $2,300,000 other funded dobt. roducing the outstanding earned. The Issues of 1885. 1887 and 1903 aro guaranteed by the United
issues. V. 105, p. 1616. Piscat. Dlv. 5s, see V.67.p. 1159; V. 68.P.84, 329. New Jersey R R . & Canal Co. Guaranty, V. 76. p. 918.
Of the Consol. Ref. 4s, $12,500,000 were reserved to pay off outstanding
EARNINGS.— In 1917, gross, $2,601,107; oper. inc., $296,114; other
bonds. Including those of controlled roads, oar trusts and pref. stock,and to Income, $99,579; lnt., sinking fund, &c., $277,314; divs. (4 % ), $50,120:
aoqulre such controlled roads; {3,000.000 for Improvements over a series surp., $68.259.— (V. 98, p. 154; V. 100, p. 228; V. 102, p. 1539.)
of years and {4,500,000 for extensions at {25.000 per mile. Including equip ★ BENNETTSVILLE & CHERAW R R .— Owns KoIIocks, S. O.. on Sea
ment. V. 73. p. 286. 896; V. 74. p. 93. The Northern Maine Seaport board Air Line, via Bennettsvllle and Brownsville, to Sellers on Atlantic
bonds ($5,000,000 auth.) are guar. p. & i.. In hands of public, $4,743,000. Coast
45 miles. Purchased by present owners about March 1907.
V. 81, p. 265; V. 82, p. 392; V. 8-1, p. 391, 692; form of guar.. V. 81, p. 727. Stock. Lino,
$250,000. Dividends In 1912, 8% ; 1913, 3% ; 1914 and 1915. 5% .
Van Buren Bridge Co. bonds are callable at 110 & iut. V. 100, p. 311.
Bond sk. fd.. $3,000 yearly. V. 92, p. 116.
The St. John River Extension 1st 5s of 1909 ({1,800,000 auth. Issue),
Year end. Dec. 31 1916, gross, $83,255; not, $26,270; lnt. on bonds, &c.
quaranteed, Drln. A lnt., were Issued at {30,000 per mile. V. 93, p. 939.
taxes, $7,387; divs. (9 % ), $22,500; bal., dof., $11,116. Pres!
The Aroostook Construction C o., which owns control, has outstanding $7,500;
W.
R. Bonsai; Sec. & Treas., B. M . Edwards. Office, Bonnottsville
$1,000,000 5% 2-year collateral gold notes due M ay 1 1919. Theso notes
will bo refunded by an equal amount o f 1-year coll, trust 7% notes, having S. O.— (V. 92. p. 116.)
★ BESSEMER & LAKE ERIE R R .— Leases from Plttsb. Bessoraer St
same security and maturing M ay 1 1920. V. 104, p. 1803; V. 94, p. 1382;
Lake Erie R R . et ai , Bessemer, noar Pittsburgh, Pa., to Conneaut Harbor
v* 95, p. 2B7.
Lake
Erie. Ste.. with branenes and spurs, a total o f 251 miles, for 999 years!
LATEST EARNINGS.— f 19 18..Gross, $4,863,222; not (bef. $623,706 from April
1 1901; owns 9 miles; total, 260 miles. V. 72, p. 137. In 1918
12 mos., Jan. 1 to Dec. 31. (1 9 1 7 ..Gross, 4,384,562;
taxes), 1,394,193 a now branch
was built to Inland Steel Co. mines, 1.00 miles.
A pr ., 1919. |
RAILWAY STOCKS AND BONDS
l?
18
★ Government
Control.
HAtL.ROAD COMPANIES
[For abbreviations, A c., see notes on first paya]
Miles Dale
Road Bonds
All
BeitLine Ry. Montgomery— 1st M gold *300,000 x ...
Belt RR & StU Yds, Ind— Stock auth $2,000.000----Preferred stock cumulative--------------------------------Belt Ry of Chattanooga— Firstratge gold. .MeBa.xo'
Beividere Delaware— Stook $4,000,000-..
Clonsolldatedl guaranteed by United Co’«
mortgage ^guaranteed by United Co's
of 187.5
Ussue $600,000 reduced by
$4,000,000 Jguaranteed by United Co *
Euclid equipt trust due $250,000 yrly beg 1924
Girard Equip trust due $240,000 yly begin 1918----Birmingham Belt— See St Louls-San Francisco.
Blrm’h & South eas— 1st M $3,000,000 g red 107 H-Ce
General and eqt M gold red 101 $1,500,000-----Ct
Birmingham Terminal— 1st M $3,000,000 gold guar
Bloomsburg & Sullivan RR— 1st M - - - - - - - - - — FP
Boon ville St L & South Ry— lst.M g red 107 W - E<
Bouton & Albany—Stook ($26,000,000 authorized). .
Irnpt bds (not mtgo) $4,500,000 due 1934 gu p A I
Equipm ent trust obligations— See N Y C
;oston & L ow ell —StU auth ($7,679,400).
Bonds— See B oston & M aine U R below .
APrlvnte
Control.
RAILWAY STOCKS AND BONDS
1901
1911
1009
49 1895
80
80
80
80
45
Par
Value
Amount
Outstanding
Rate
%■
—
4.8
48
5.9
29
29
1911
1914
1907
t898
1898
44
392
. .. .
...
. ..
__
250.000
5H
1,000
100 25.000.000 H « % 18
3,858,000
1902
1.000
3>4
1,000
3)4
1901
1,000,000
4
1.000 13,500,006
08-’ If.
1.000,006
1912
1,000
414
1913
1.000
2,015,000
5
3.027.00(1
5
1913 1,000 Ac
1.000,000
1917 1,000 Ac
6
100 Ao
100
1,000
100 Ac
100 Ao
539.000
(T)
1,940.000
242.000
199.600
6 i
6g
4g
5
5
1917
___
. .. —
Last Dividend Places Where Interest ano
Dividends are Payable
and Maturity
5 g J A D Deo 1 1932
1,000
' 614.000
5 g J A J July 1 1941
1,000
245,000
50 2,0 JO.000 See text
Q— J Apr 1 1919 2%
6
50
500.000
Q— J Apr 1 1919 iVi
M <& N May 1 1939
1,000,000
4g
1,000
J A J July l 1945
1,000
5
300. (XX)
50
1,253,000 See text yearly Mar31 1919 4%
M A 3 Sept 1 1925
4
500,000
1,000
F A A Feb 1 1927
4
677.000
1,000
J A J Jan 1 1933
4
1,000
322.000
3 IS 6 J A J Jan 1 1943
1.000
972.000
J A J Jan 1 1941
150.000
5g
1,000
M A 3 Moh 1 1922
6
1.220.000
1.000
A A O Apr 11925
1.060.000
5
1.000
M A S Moh 1920-1927
5
1,000
880 000
VI A s Mch 1922-1932
1,000
550.000
5
.1 A D Juno 1923-’34
1,000
950.000
5
J A J July 1924-1934
1,000 2.500,000
6
M & N Nov 1919-1932
5
1,000 a3.360,000
1885
1887
1893
1903
1911
1902
1905
1907
1911
1912
1914
1916
__
When
Payable
$100
7,679,400
8
M
F
M
J
J
[V ol . 108.
A N May
& A Feb
S Moh
A
A J Jan
A J Jan
1 1961
1 1924
1 1957.
1 1928
1 1928
U S M & Cr u , NY A SF
Safe Dop A Tr Co, Balt
Oo’a office Indianapolis
do
do
Nat City Bank. N V
Mercantile I'r Jo Dep.Balt
Penn UK Co., l’ blla
do
do
do
do
do
' do
do and New You
Mero Tr A Dep Co, Balt
Homo Tr Co, Etobou, N J
do
do
do
do
do
do
do
do
do
do
Union 'i'r Co, Pitts, Pa
Nov 1916 coupon unpaid
Interest In default
Bquitable Crust Co. N 1
F 1 T & 8 D Co. PhUa
Reg Bloomsburgh.wh cai
Trustoes’ office, Toledo.
A A Aug 1 1951
3— 14 Mar 31 ’ 19 2% Offloe Ter n -)tet u Bost
do
do
A O Apr 1 1952
do
do
J A J Jon 1 1961
do
dc
M A N May 1 '33-34-36
do
do
J A J July 1 1937
do
do
J
A J July 1 1938
do
do
A A O Oct 1 1963
do
do
J & D June 1 1942
F
A
J
A
J Jan 2 1919 4% At Offloe, Boston
Apr 1 1913 1% At Off, Causeway St, Bos
do
d
Mch 1 1913 3%
100 39.505,100
100 3,149.800
00
o
Stock auth., $500,000. Dividends paid: In 1904, 100%; 1905, 50%; 1906, 1918 and tho $200,000 6% noto issue due Sopt. 18 1918 wnro provided for
40% ; 1909, 150%: 1910, 100%; 1911. 150%; 1912, 250%; 1913. 200%: by demand notes. Tho shareholders on Jan. 3 1919 authorized $1,034,000
1914, 275%; 1915 and 1916, 150%; 1917, 100%. Controlled by U. S. 20-year bonds, and on Jan. 9 merger with B. & M . RIt. V. 107, p. 1384,
Steel Corp. Guaranty on Marquette A Bessemer Dock & Nav. bonds. 1918; V. 108, p. 76, 169.
V. 77. p. 1228; V. 76, p. 1358; V 82, p 160. For year ending Dec 31 ★ BOSTON & MAINE RR.— ROAD.— The system with Its many branch
1917 (208 miles), gross, $12,372,619; net, $2,807,893: other income, $1,217, Hues covers the territory from Boston, Mass., to Portland. Me (two lines);
266; Int., rentals, <Scc., $1,735,248; add’ ns A impts., $1,500,000; div. Springfield, Mass., Sherbrooke, Can., Rotterdam Jot. and Troy. N. Y.;
--------). $500,000: bal. , sur., $289,861. E. J. Utley Gen. Mgr. under
Worcester, Mass., to Portland, Me., and most of New Hampshire.
Si
Govt., Pittsburgh, Pa.— (V. 102, p. 1986. 2165: V. 107, p. 80. 1003.) Lines owned.
Lines leased— (Concluded). Miles.
Miles.
BINGHAM CENTRAL R Y .— See Ohio Copper Mining Co. In V. 104,
Fitchburg____________________ a458
Boston, Mass., to Rigby. Me,,
p . 1391; V. 103. p. 1122, 1415, 2237.
via Dover_________
111 Nashua A Lowell_______________ al6
Boston to Rigby,Me.,via Portsm. 105 Connecticut River R R -------------- a81
BIRMINGHAM & ATLANTIC R R .— See page 132.
Other_________________________ 30
ABIRM1NGHAM COLUMBUS & ST. ANDREWS R R .-<!hipIey to lewett. Me., to Intervale, N. H . 73 Traokage
rights________________ 29
R y ----------- 18
South Port, Fla., 38 miles. A. D. Campbell, receiver, Chlpiey, Fla.; Portsmouth Electric
M e., to Worces
Wm. H. Kreldor, Gon. Counsel, 416 Pennsylvania Bldgs., Philadelphia. Westbrook,
Total operated Jan. 1 1918-. - .2,305
ter,
Mass____________
___—
139
Judicial sale ordered, but not sold to April 1 1919.— (V. 105, p. 2542.)
2d track (3d A 4th track. 10) 691
North Cambridge to Northamp
★ BIRMINGHAM & NORTHWESTERN R Y .—Jackson Tenn.. north
ton. Mass___________________ 96 Controls:
westerly to Dyersburg. 49 miles. Entire stock ($300,000) and bonds Sundry branches_______________ 196
St. Johnsbury A Lake Champ. 121
($800,000) were deposited as security for $450,000 3-year collateral trust
York Harbor A Beach_______ 12
Ltnes leased, a See this oompany.
gold notes of the Blrm. A Northw. Co. (of Dela.). guar. prln. A lnt. by Boston A Lowell______________a469
Vermont Valley____________
24
Mercantile Trust Co. o f Jackson. Tenn. These notes were paid March 1 Concord A Montreal__________ a479
Sullivan County_________
26
1916. V . 96, p. 1295. Cal. year 1917, gross, $158,305, against $146,166
RECEIVERSHIP.— On Aug. 29 1916 Pres. Jamos H. Hustls was made
In 1916; and net after taxes, $26,701, against $24,736.
temporary
receiver.
V.
104,
p.
71;
V.
103,
p.
757,
843,
1117.
In
Juno
Pres.. A. B. Tlgrett: Vice-Pros., O. VV. McNear; Sec., U. F. Spraglns:
Mr. Hustls was made Regional Director under U. S. RR. Adminis
Treas., J. E. Edenton. Office, Jackson, Tenn. Fed. M gr., W. L. Ma- 1918
tration, and B. R. Pollock became Federal Director of tho road. Hearing
pother.— (V. 102, p. 608; V. 107, p. 603.)
on the petition for the discharge of tho receiver was to have been held in
A BIRMINGHAM & SOUTHEASTERN R Y — Owns Union Springs to the U. 8. Dist. Court on April 21 1919. V. 108, p. 1610.
Eclectic, Ala., 48 miles. V .9 4 .p . 1316. Interest on the 1st M . bondshaving
In Apr. 1919 no Interest had boon paid since the beginning of the rocelverbeen defaulted Nov. 1 1916. a protective committee with George O. Van shlp upon any of tho notes or plain (dobonturo) bonds of tho B. & M .
Tuyl Jr. as Chairman and 11. M . DeLanole, 66 Broadway, N . Y ., as Secre- Dividends and Interest payments on loasod Unas securities have been paid
a».«t
fi\t* HanDaitc orlfh fl«nt,pal Trust, ns dnnnsltarv. V. 103. U. 1887. on maturity with tho exception of intorast on tho Connecticut Rivor notes.
94. p.
Tho reorganization Act nas boon extended till July 1919. V. 103, p. 60.
__
and
“ ADVANCES” AND “ STANDARD R E TU R N ,” &c.— Soo page 5.
net "after taxes, $37,922. against $31,880. Pres., W. M . Blount, Union
PLAN.— In Sept. 1918 the U. S. RIt. Administration submitted a tenta
Springs, Ala.— (V. 94, p. 1316; V. 103, p. 1887. 2340.)
tive
plan of reorganization and offered to loan on tho security of mortgago
★ BIRMINGHAM. TERMINAL.— Owns passengor terminals at Birm
and trust funds tho sum of $19,879,060 necessary to make tho plan
ingham. Ala. Stock all owned by the Illinois Central. Southern lty.. Sea bonds
effective,
provided substantially all or tho various security holders should
board Air Line, Central of Georgia, St. Louis A San Francisco and Alabama assent. The
plan in Its final form is outlined below. Compare V . 107, p.
Great Southern, which lease tho property and pay all expensos, charges and
4% dividends on the stock and Jointly guarantee the bonds. Of the bonds 1918, 2007.
($3,000,000 authorized). $1,060,000 are reserved for additional properties. Plan of Reorganization Nov. 1 1918 (V. 107, p. 1918, 2007. 2288,2375,2474
This plan has boon approved by tho Director-General of the Railroad
V. 83. p. 1227; V. 85, p. 404. Guaranty, V. 90, p. 848.— (V. 90, p. 848.)
by the Public Servlco Commissions of tho New England
ABLOOMSBURU & SULLIVAN RR.— Owns Bloomsburg to Jamison Cl y. Administration,
States concerned with the matter, and by tho stockholders of the several
Pa., 29 miles. Stock Is $600,000; par, $50. V. 66, p. 80, 952-_ Y0ar, companies,
and
It
should bo carried out with tho aid of tho aforesaid loan
191&-16. gross. $90,222; net, $34,543; other Income, $435; charges, $30,141; of $19,879,060 from
the U. 3. RIt. Administration, said loan to bo secured
bal.. «ur., $4,836. In 19l4-15. gross. $77.464:— (V. 66. p. 952.)
by bonds of the consolidated company. Tho last legal formalities are now
★ BOONVILLEST. L & SOUTHERN R Y.— Boonvtlle to VersalllM., being gono through (April, 1919), and tho plan, it is stated, should be finally
M o .. 44 miles. Stock auth., $1,000,000; outstanding, $250,000; par $125. complete within a short time.
Lease.— Operated by M o. Pac. UR. Co. under new lease, dated Aug. 1
1.
Merger.— Tho Boston A Maino R R . is to acquire tho properties and
1917, and running until Aug. 1 1955. Consideration, payment of main assume the obligations of tho following seven directly leased companies;
tenance expenses, taxes and an annual rental o f $12,500, being the interest Fitchburg RR. Co.
Concord A Montreal RR.
on tho new outstanding bonds plus $30 annually to corporate trustee.
Boston A Lowoll RR. Corp.
Lowell & Andover RR. Co.
Under financial readjustment in Feb. 1918 the holders of the $500,000 Connecticut River RR. Co.
Manchester & Lawreuco RR.
1st mtge. bonds o f 1911 (coupon o f Feb. 1916 unpaid) were offered In
Kennobunk A Kennobunkport RR.
exchange pro rata $250,000 new First Mtge. 5% gold bonds of Boonville
The sub-leases held by those sovon companies will bo taken over by the
Co. under now mtge., dated Aug. 1 1917, payable Aug. 1 1951; and also now consolidated company, and dividends paid in full.
$250,000 pref. stock v. t. c. of Missouri Pacific R R . Co. Trustees, the
Mileage of System after Said Merger.
Spitzer Rorick Trust & Sav. Bank, Toledo. Ohio, and Lewis E. Nelson.
Road.Track.
Road.Track.
y Properties—
Pres J. G. Drew; Sec., F. W. Irland; Treas., F. M . IUckman, St. Louis,
84
Concord A Clarem’t R R .. 72
fc
M o.— (Y. 95, p. 968.)
100
Conn.
A
Pass.
River
RR.
.
110
3,315
Maino
R
R
___
★ BOSTON A ALBANY RR.— Owns Boston. Mass,, to Albany. N .Y .,
46
xMassawippi Valley R R .. 35
Stock all Owned199 mile*; branches. 104 m.; leased lines, 90 m.; track. 0.6 m.; total. 394 m.
6
5
23 Now Boston R R _______.
.
20
Leased In 1900 for 99 years to tho New York Central & Hudson River RR.
54
.
24
45 xConcord & Portsmouth.. 40
for guaranteed rental of 8% per annum on the $25,000,000 stock, payable
19
18
49 xSuncook Valley R R ____.
25
quarterly (Moh. 31. Ac.), organization expenses. Interest on bonds, taxes,
30
.
43
55 xPemigswassot Valley.. . 21
expenses of maintenance, Ao. The B. & A. received for ocrtaln property
42
28 4 other steam railroads. . 35
24
not Included in the lease $5,500,000 In N. Y. Central 3 H% 100-year deben M t. Washington R y __ -.
3
3
tures. thus adding .77% per annum to 8% guaranteed onstook. See lease
536 852
InV. 69. p.282' V. 69, p . 1061, 1102. 1246: V. 70. p. 74: V ^ l . p. 645. 963:
203
141
V . 107, p. 1918. Lease assumed by N . Y . Central R R . Dec. 23 1914.
.2,361 4,370
BONDS.— The $13,500,000 25-year 4% lmpt. bonds are guar. prln. and xVermont & Mass. R R .
191
59
Int. by New York Central A Hudson River RR. No mortgages can be Troy A Bonnington------ 6
5
l
18
placed on the property without Jointly Including the bonds in the lien.
.
14
50
V. 86. p. 1099; V. 89, p. 102; V .91, p. 396. V.94. p .2 7 7 .1055. 1316. 1625.
23 Cone. & Mancli. El. brclii. 29 — —
.
13
The 4% bonds mature $7,000,000 In 1933, $4,500,000 in 1934 and $2,000. W ilton R R
21
15
Grand total, road___ 2,408 4,370
000 In 1935.— V. 96. p. 563 . 651, 946. 1365. 1489. 1838; V. 97. p. 1838
12
11
x Peterborough R R ------ .
x Soo this company's statement.
In June 1916 all bonds Issued since tho lease to the N. Y. C. & H R. RR. xN or. R R . New Hamp. .
107
82
Co. had been guaranteed (prln. A Int.) by the lessee. In Aug. 1917 sold
y Excluding Newport A Richford (33.22 miles of track), leased to Mon
$1,000,000 guar. 25-year 6s for additions. &c. V. 105, p. 716.
treal A Atlantic Ry. for a rental covering all fixed charges. Also excluding
DIVIDENDS.— Slnoe 1900. 8 H % . viz.: 2% eaoh In Maroh and Sept., St. Johnsbury & Lako Champlain RR. (98 miles of road), a majority of
whose capital stock is owned by the Boston & Lowell R R ., but which is
214% In June and 214% In Deo.
operated separately. The Boston & Maino R R . guarantees $1,328,000
Balance,
Interest
Other
Calendar
Operating
Oper. Inc.
Sur. or Def. St. Johnsbury A Lako Champlain First Mtgo. 5% bonds. Compare plan
Year— Revenues, (.after Taxes.) Income. Divs., &c.
def.$4,533 in V. 107, p. 1918.
1917
..$22,562,282 $4,729,140 $269,822 $5,003,495
4,778.138 sur.2,751,595
265,342
2.
First Preferred Slock.— Tho company will authorize not over $50,817,
1 9 1 6 ____ 21,676.541
7,264,392
sur.781.342 900 First Pref. stock, of which $12,000,000 (entitled to 6% per annum) will
4,441,801
257,087
1915........... 17,695,865 4,966.055
be reserved solely to retire $12,000,000 of tho proposed new bonds upon
Federal Manager, H. M . Blscoe. Boston, Mass. iV. 107, P. 1918.)
★ BOSTON & LOWELL RR,— Owns Boston to Lowell. 26 miles: authorization by a majority of the common stock. Tho remaining $33,817
oranchea— Salem and Lowell, 17 miles; Lowell and Lawrenoe. 12 miles 900 First Pref. will be Issued forthwith for the property and franchises of
others, 45 miles; Middlesex Central, 11 miles; leases— Connecticut A Pa- tho seven directly leased lines, and will bo exchanged, $ for $, for the out
inmpslo. 146 miles; Nashua A Lowell, 15 miles; Peterborough. 10 miles standing shares of said linos owned by tho public; dividends on the First
Pref. stock so oxchangcd will carry dividends at tho rates of the old stocks
Northern N. H „ 83 miles (and subsidiary lines 90 miles); Stony Brook R R .
16 m.; Wilton R R ., 13 m. Leases mostly assumed by Boston A Maine. except that during the first five years, in consideration of tho Federal Govt,
Leased In 1887 for 99 years to the Boston A Maine at 7% per annum on advancing funds for reorganization purposes, tho rates will be reduced by
stock till Jan. 1 1897 and 8% thereafter. V 95. p ' 1330. Merger pend 20%. The new first pref. stocks will be in several series, as shown In table
ing with B. A M „ which seo below. The $214,000 4% bonds due Oct. 1 at head of pago, but all of like priority. Dividends on the First Pref. stock
A p e ., 1919.1 *gSKg“ *
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
Miles Dale
[Ear abbreviations, A c., see notes on first page]
Road Bonds
B oston & Maine— (Concluded.)
Improvement bonds s f not mortgage or subj to call z
1887
Bonds (.not mortgage) for Improvement & ref zo&r
1892
Bonds (not mortgage) gold__________________ zo&r
...
1894
Bonds exchanged for Fltohburgstook (V70, p 175) z
1900
Bonds (not mortgage), 51.000,000_____________ z
1901
Bonds S2.000.000 (not mortgage)______________ _ z
1903
Bonds (not mortgage). 20-year_______________ _ z
„ . 1905
Bonds (not rntgc), our_______________________ zo&t
1906
Bonds (not mortgage) $12.000,000___________zc&r
1909
Portsm Gt Falls & Con 1st M ussuro __ ____
i
73 1877
Worcester Nashua & Rooh first mortgage equally)
[47 Var.
secured ($705,000 due 1930 and $150,000 1935)zf
147 1894
One-year notes extended to Aug 31 18 (see te x t).. z __ 1913
do
not so extended_________________ ____
1913
C apitalization as Proposed under Merger Plan — - Common stock (dividends deferred)________
First Pref Cum stock, all samo priority $55^817,900* not
i
pr eferred
“ A ” (for Fitchburg preferred)__________
__
“ B " (for B. & L. and L. & A. 8% stock )II.
._
__
"O ” (for Concord & Montreal sto ck ).__
" D ” (for Conn. Kiv M & Land L & A 10% stock)
__
“ E ” (for K & K st. See opt, V 107, p. 1918).
._
__
“ F ” (if issued to retire bonds) $12,000,005 .
__
Old Pr.ef stock (as 2d Pref) non-cum (see te x t).I .
__ __
New First & lief M (sec equally all issues of merged C
. OS--(a) New Bonds (to U S Govt) sub to call, sink fd
(b)
do
do
do
do
do
Bonds of Merged Properties Assumed—
Boston & Maine—All bond issues shown above.
1892
Bonds
do
do ($620,000 duo July 1 ’ 19)zc*
’99-01
Bonds
do
do
_
..
--------------------------- zc*
1903
do
Bonds
do
...
. 1905
Bonds
do
do
. .. 1906
Bonds
do
do
- -r 190?
Bonds
do
do
1909
Bonds
do
do
1913
Bonds
do
do
1916
Par
Value
1 9
Last Dividend Places Where Interest and
and Maturity
Dividends ara Payable
1,000
1.000 &o
1,001
1.00C
i .ooi:
1.00(1
1,00(1
l.OOO&o
1.000 Ac
500 &o
1,000
1,00(J
5,000 &c
5,000 iScc
100
as to as
100
100
100
100
100
100
100
Feb 1 1937
Aug 1 1943
Jan 1 1944
July 1 1950
Nov 1 1921
Jan 1 1923*
Feb 2 1925
Sept 1 1928
April 1 1929
June 1 1937
Jan l 1930&'35
Oct l 1934
Aug 31 1910
Mar to July '16
do
di
do
do
1917 Int unpaid
do
do
Nov 1916 Interest unpaid
Jan 1917 interest unpaid
Jan
Int due Sept 1 '16 not pd
Int due Oct 1 '16 not pd
Amer Trust Co. Boston
do
do
Interest discounted
Overdue
s unless bonds h eld by U. S. Gov. are pd.
x Shows the m aximum dividend rate
after Jan. 1 1 924; till then scaled 80%
(Max. rate 6% after 5 years or earlier).
United States Treasury
do
do
1.000
l ,000
1,000
1,000
1.000
1.000
1.000
1,000 Ac
1.000
win NO cumulative anu win tatre precedence over the existing stock of the
Boston & Malno, including its present prof, stock, but will not be preferred
as to assets. See also V. 107, p. 1918, 2474.
“ I f the said Kennobunk & Kennebunkport UU. prefers,” there may be
Issued to It $58,500 First Pri f. stock bearing dividends for the first five years
at rato of 4 % , and thereafter 5% p. a .. instead of the stock above specified.
Total now first pref., now to bo issued Classes A to E, inclusive $38 817 900
Total dividend per yoar, first 5 years, $2,035,781; thereafter.. 2,544,’726
Total saving during 5-ycar period______________________________ 2,544,726
3. B. A M . Pref. Slock.— The $3,149,800 Boston & Maine 6% non-cum
pref. stock now outstanding is to remain undisturbed as 2d Pref. stock
but the>dividend rate reduced
during ;5
years;_however,
if v
within 5
icuuuu to 4%
i/o vjmiiip,
■> years;
nowever, u
to company shall sell an additional $12,000,000 in 1st pref. 6%
>% stock,
at not loss
_
ess than
par, and apply proceeds to reduction of debt to che Government, then
then v..o.
divs. may ho at 6% . Pursuant to the plan, the div. on this
stock must bo paid if earned.
Total reduction in dividend o f 6 % .pref. stock, 5-year period, $314,980.
4. Status of B. A M . Common Stock.— No dividends are to be paid on the
common stock for a period of 5 years, unless the company sellsfl 2 000 000
of 1st Pref. 6% stock at not less than par and applies the proceeds to the
reduction o f debt to the Government.
5. Trust Fund to Retire Bonds.— 'The amounts earned for the stocks and
not paid out on account of the reduction in dividend on the pref stn'ck 3
the omitting of dividends on the common are to be paid to a tmstM to he
applied in the purchaso from tne Government o f the bonds It takes for Its
advances or invested In improvements. V. 10/, p. 2474.
a *or u,s
6. Effect of Sale of $12,000,000 6% First Pref. Stock as Authorized__Tf nt
any time in the 5-year period $12,000,000 6% First Pref stock is sold at not
less than par and proceeds applied to reduction of the debt to the Govern
ment, then the restrictions as to dividends on the present prof and com
stocks will be off, except that thero must be invested in improvements or
used in the reduction of debt a sum equal to tho reduction in dividends on
the First Pref. stock, which reduction continues throughout the 5-voa?
period, plus previous net earnings applicable to payment of dividends saved
by tho omitting of common dividends and the reduction o f proferred dlvl
dends up to tho time o f paying the Government $12,005 000 when the
dividend on such preferred stock may (if earned) advance to 6 % ’ such sums
must bo charged as expense and not capitalized, and in figuring tlio amount
of income applicable to pref. and com. dividends, the reduction in the First
Prof, dividends must first be taken out.
U 01 lrsc
(6) Federal Loan for Payment o f Overdue Debts, Ac.
Immediately upon tho transfer to the Boston & Maine R R . o f tho nrnn-.
orty and franchises of the loased lines above named, the Federal Govern
ment will loan to the reorganized company $19,879,060 which will he
applied forthwith to paying off the principal of the following overdue
indebtedness o f tho Boston & Maine and its subsidiaries:
“
B. & M . RR. notes— .$13,306,0601Fitchburg RR. notes
81 qro non
Conn. River RR. n otes.. 2,000,000 Boston & Lowell notes” "®1 ynn’nnn
Vermont Vail. ItR. notes 2,300,0001 do bonds due Oct. f ’18 214 000
The stock of the Vermont Valley R R . is all owned by tho Connecticut
River ItR. and will be turned over to the reorganized Boston & M ahm R R
All overdue interest on the indebtedness of tho Boston & Maine system
will bo paid from cash In tho hands o f the Boston & Maine
ysctm
The Federal Government will also advance to the reorganized comnanv
such amounts as the reorganized company may be ordered to pav to dls
sonting stockholders over and above the amounts realized from the sale
of tho stock to which they would be entitled, and will receive therefor
10-year 6% mortgage bonds.
trcior
(7) New Mortgage— Issue of $19,879,060 Bonds for Federal Loan.
(7) In oxchango for the $19 879,060 advanced by the Federal Govern
ment the Boston & Maine RR. will issue (a) $17,606,060 o f
bond*
ayablo July 1 1920 on account o f first throe items In above table- (hi
2,273,000 o f 6% bonds payable Jan. 1 1929 on account or last threo items
In above table. Any other advances which may be mado by tho Govern3
ment will be represented by similar 6% bonds.
vernTho Government will also agree, at tho option o f the Boston & Maino
R R ., to refund said 5% bonds due July 1 1920, by purchasing at 98U on
that date $17,606,060 o f 6% bonds payable Jan. 1 1929
All tho new "bonds will bo secured by a mortgago upon the entire nrnn.
erty and franchises of tho reorganized corporation, whether then owned or
thereafter acquired.”
Tho now mortgago will also “ secure all outstanding bonds, notes and
other evidences of indebtedness for which the reorganized corporation it
liable as required by the statutes o f Massachusetts, and shall be drawn in
as to equally securo such future Issues of bonds as may bo required for rn
funding purposes or as may be required to pay in whole or in part for addi
tions, bottorments, extensions or equipment or may bo issued for anv lawfi.i
corporate purpose.’ V. 107, p. 1918, 2474.
J
ul
The mortgago will bo a first mortgage on all the property and franchises
owned, subject only, however, to the following divisional mortgage bonds3
Portsmouth Groat Falls & Conway R R ., due Juno 1 1 9 3 7 ...
gi non nnri
Worcester Nashua & Rochester R R ., $735,000. due Jan. 1 1930 ’
$380,000 duo Oct. 1 1934; $150,000 due Jan. 1 1935
l 265 nnn
Concord & Montreal R R ., duo June 1 1920...............
5’ 50n’nnn
Troy & Boston RR ., duo July 1 1 9 2 4 ............................I I I I I I I ’573,000
It is anticipated that these bonds, maturing at an early date will Ini rn
funded Into ten-year bonds Issued under the proposed mortgage
Tho mortgago may also be subject to tho lien of tho attachment In tho
suit brought by tho llampden R R . Co.
°
(8) Hampden Ml.— No provisions are mado for taking over tho ITamnden
Iy i v or deli vering any stock or bonds to that company as the Superior Court
o f Massachusetts has ruled that it has no valid claim against the Boston &
Maine. If that ruling should bo reversed on appeal and the Hampden R It
shouhl recover a Judgment against the Boston & Maino during tho period
o f Federal control, tho Federal Government will loan tho Boston & Maine a
sum sufiicleut to pay the Judgment.
ua
t
APrlvate
Control.
Meroh Nat Bk Boston
Merch. Nat. Bk. Boston
do
do
do
do
do
do
do
do
do
do
do
do
do
do
(9) Reorganization Committee— Members—
Renresenlina
Gordon Abbot, Chm.Chmn. Board Old Colony Trust C o..Fitchburg RR
Henry B Day.
Of R. L. Day & C o., Boston________ Bost. & Maine
Charles Sumner Cook.Lawyer, Portland, Me
“
••
James L. Doherty----- Lawyer, Springfield, Mass"I...............
“
"
Benjamin A. Kimball.President, Concord & M on trea l.IlllC on c. & Mont
Philip D e x t e r ........... Lawyer, Boston____________
Bost & Lowell
Francis R . Hart. . Vice-Chmn. Old Col. Trust, Boston..C onn. River
Counsel, Frederick E. Snow, of Gaston, Snow & Saltonstall, Boston
Secrotary, Elbert A. Harvey, 50 State Street, Boston.
(10) Capitalization of Reorganized Bos. A Me. System— V. 107, p .2007,1918.
Boston & Maine bonds to remain outstanding______________$43,338 000
Boston & Main# bonds to bo taken by Government________ 19,879 060
Bonds of other merged companies to remain (see table at head
of pago)------------------------------------------------3 9 Q5 Q qqq
Bonds of controlled or leased companies' [viz". "V erm ont "&
’
’
Mass. RR., $772,000; Concord & Claremont R R .. $500,000;
Connecticut & Passumpsic Rivers R R ., $1,900,000; Ver
mont Valley R R ., $1,500,000; Sullivan Co. R R ., $357,00015,029,000
Total funded debt................................ ............................... .$108 196 060
Remaining leased line stocks [see list in V. 107, p. 2 0 0 8 ]__ $ ll!4 3 l’ l40
New 1st Preferred stock, cumulative_______________________
3 8 817 900
Preferred S to c k __________________________
”
.3 1 49 800
Common Stock.........................................39,505!l00
Total capital obligations------------------------------ ---------------- $201,100,000
(11) Directors of Reorganized Company.
I he board shall consist of not less than 15 nor more than 2 1 members
of whom at least two shall be residents of Maine, one of Vermont and four
of Now Hampshire.
Of the seven reorganization managers three shall be chosen by the
directors of the Boston & Maino RR. and one each by the directors of the
Fitchburg IIIt., the Boston & Lowell R R ., tho Concord & Montreal RR
and the Connecticut River RR.
II. Leroy Austin, Catskill, N. Y .; Norman L. Bassett, Augusta, M e.;
Charles W. Bosworth, Springfield, Mass.; Frank B. Carpenter, Manchester.
N. II.; Samuel Carr, Boston; Charles Sumner Cook, Portland, M e.; Henry
B. Day, Newton, Mass.; James L. Doherty, Springfield, Mass. ; Frederic
C. Dumaino, Concord, Mass.; Charles P. Hall, Newton, Mass.; Woodward
Hudson, Concord, Mass.; James M . Prendergast, Boston; John G. Sargent
Ludlow, Vt.; Loslie P. Snow, Rochester, N. II.; James Duncan Upharn
Claremont, N, II.; George H. Warren, Manchester, N . H. V. 107, p!
2187, 2007.
See also further information as to proposed reorganization. V. 107 n
1098.— (V. 107, p. 1918, 2282, 2375, 2474; V. 108. p. 682, 972.)
Earnings— Standard Rental.— “ It is estimated that the standard rental to
bo bald by tho Government during Federal control will be between $9,500.
0 0 0 and 310,000,000, and that tho fixed charges upon tho reorganized sys
tem will bo only between $5,000,000 and $6,000,000. It thus appears that
the standard rental will bo fully adequate to pay all fixed charges, dividends
upon the new prof, stock, and to provide a surplus for said trust funds. The
annual gross operating revenue of the system exceeds $60,000,000.”
BONDS, A c.—The notes of the company outstanding Dec. 31 1917
aggregated $13,306,060, vl* , Extended to Aug. 31 1 9 1 6 $ 1 3 101 160' ex
u d e d to July 17 1916 $198,400; extended to June 2 1916. $ 5 % 0 ;' exr w d 320,
■Id9(i 577.
677ar6fii2
, Rn<0' *As
i '0?to0b
kV - ,102' *ee
88,6
- 19872076;1895.
V. 103. p.
2J8,
od4. 1502.
debentures,
issue
of April
Boston & Maine guarantees $1,328,000 first 5s of St. Johnsbury & Lake
Ohamplaln. Also Interest on $274,000 Manchester & Lawrence 4s. Jointly
with Maine Central guarantees $300,000 Portland Union R y. Station (now
Portland Terminal Co.) bonds. V. 93, p. 940, 1323.
„ ,->IVS'T ^ ,C 9„3 ' '24-'.98’00-'07. '08. '09. '10. ' l l . '12. 1913. None
Common (% ) l 8 6 yly. 6H 7 yly. G3
A 6
6
5
4
2
since
ANNUAL REPORT.— For year ending Dec. 31 1917, V. 106, p. 1676:
Calendar Years—
xl918.
1917.
1916.
yl916-17.
Operating revenues----- $72,141,625 $59,450,778 $55,383,544 $56,992,040
Operating expenses------ 66,404,110 47,164,940 38,251,715 42.448.076
Taxes, &c....................... 2,325,505
2,160,438
2,094.857 2,124.711
Operating income------$3,412,009
$10,125,398 $15,016,971 $12,419,251
Other incom e.................
101,403
1,232,915
1,205,819 1.165^855
Not Income . . . . . . $3,513,412 $11,358,313 $16,242,790 $13;585.l66
Rentals, sink, fund, &c. 1x1,615,899/ 9,223,703
8,800,072
9,126 601
Interest accrued.............J
\ 2.553.994
2.651,844
2,578.056
Balance, sur or def..sur.$l,897,514def.$419,384sr$4.790.874sr$l,880,449
x Federal income account, and includes neither income from investments
and other items held by company outside Federal control, nor fixed charges
and war taxes payable by company out of the compensation due from the
U. S. R lt. Administration for the use of the property, y June 30
OFFICERS.— Federal M gr., B. R. Pollock; Pres., Woodward Hudson.
Office, Boston.— (V. 108. p. 170, 267. 578, 682, 973, 1274, 1510, 1616.)
★ BOSTON & PROVIDENCE R R .— Owns Boston, Mass., to Providence.
R. I.. 43 miles; branches 20 miles. Leased 99 years April 1 1888 to Old
Colony RR.; rental 10% yearly on stock, lease being modified In 1912.
V. 9?>- P- 235. The New York N. H. & Hartford on Dec, 31 1918 owned
$524,600 stock. Tho company issued as of July 1 1918 82,170.000 5-year
6% gold debentures due Jury 1 1923 to refund the 4% s then due. Endorsed
on the bond and signed both by lessee and lessor is a statement to the effect
that tho bonds are issued under provisions of lease of 1888. Interest pay
able at office o f J. P. Morgan & Co., N. Y ., National Shawmut Bank or
F’irst National Bank, Boston. (V. 108, p. 1274.)
ABOSTON RAILROAD HOLDING CO.— Incorporated In Massachusetts
<uno 18 1909 under special Act with power to hold securities of Boston &
Maine. Ihe N. Y. N. H. & Hartford owns $3,106,500 common stock,
and as guarantor has paid the pref. divs. which the Co. could not meet.
20
RAILWAY STOCKS AND BONDS
[Vol . 108.
APE., 1919.] *g0
°£rT ent
R A IL R O A D C O M P A N IE S
[F o r a b b r e v ia tio n s , e t c ., s e e n o te s o n f i r s t p a g e]
Miles Date
Road. Bonds
Boston & Maine— (.Concluded.)
Cone & Montreal Cons M for $5,500,000-BB.zc*
262 1S90
__ '97-99
Deben bonds curr $650,000 4s; $400,000 3M s.zc*
$473,000 3Ms; $200,000 5s...........................
z
'09-11
Connecticut ltiver Bonds not mortgage_________ zc
1893
Bonds not mortgage__________________________ z
1901
______________________
do
do
1903
Fitchburg— Bonds to Stato of Massachusetts___ zr
1887
Bonds not mortgage_______________________zo&r
1890
Bonds not mortgage ($2,750,000 arc 4s of’97)zo&r
'97-98
Bonds not mtge ($1,775,000 are 3 J$s o£ ’01) zo&r
•0 0 -0 1
Bonds not mortgage $2.000 ,000 ........... . . z o ’ &r
1907
Bonds not mortgage $3,660,000 ourrcncy__ zo&r
1905
Bonds not mortgage $2,400,000____________zc&r
1908
Bonds $1,350,000 authorized currency___ zo*&r
1912
Bonds $450,000 authorized___ _____
z
1913
B on d s_______________________________________ _
1914
Troy & Boston Qrst mortgage (V 53. p 405)__ zo&r
35 1874
Bonds of Leased Lines (Stock see each co)—
Concord & Claremont (N II)— First mortgage
zc
71 1914
Conn & Passuinpsic First M $1,900,000 gold__ zc*
1 1 0 1893
Sullivan County HR First Mortgage $100,000__ zc
1894
Vermont Valley Ky First M SI,500,000 gold.BB,zc&r
24 1910
Vermont & Massachusetts plain bonds guar__ zo&i
__ 1903
Manchester & Lawrence plain bonds (not mtge). .zc
1892
Boston & Providence— Stock 10% guar 99 yrs Old Col
6 3 ___
Gold debentures___________________________OByc
1918
Boston RR Holding Co— Fret stk 4% cum red 110-zgu
Boston Revere Beach & Lynn—Stock $850,000 ____z
1st M (V 65, p 6 8 ; V 83. p 379) $1,000,000 gSBzo*&r 13.12 1897
Boston Terminal Co— First mortgage ourr. .Oil..zo& r
1897
Boyne City Qaylord & A lpena— 1st M $800,000..
97 1917
Brinson Ry— Soo Savannah & Northwestern R R .
Brownsville & Ala (am Bridge Co— 1st M goldguarSStx
1910
Gold bonds $100,000 guar Jointly____________ N x
1911
Buffalo Cr—Con (now lst)M$1.000,000 g lnt as rento*x
6
1891
1st ret M $5,000,000 g red 105 since July '12_Ugmx
1910
Buffalo New York & Brie— See Brie Railroad
Par
Value
1 ,0 0 0
1 .0 0 0
1 .0 0 C
1 ,00(1
1 ,0 0 0
1 ,0 0 0 &c
1 ,0 0 0 &o
1 ,0 0 0 &o
1 ,0 0 0 &c
1 ,0 0 0 &c
1 ,0 0 0 &c
1 ,0 0 0 &o
1 .0 0 0 &c
1 ,0 0 0 &c
1 .0 0 0 &o
500,000
1,900,000
357,000
1,500,000
772,000
274.000
4.000,000
2,170,000
27.293,900
850.000
1 ,0 0 0 .0 0 0
14,500.0)0
800.000
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
1 .0 0 0 ,0 0 0
1 ,0 0 0 .0 0 0
DIVIDEN DS.
f '97-'05. '06. '07. ’ 08-'10. ’ l l . 1912 to Apr. 1919.
Since 1894.....................1 2 yly.
4
5 6 yiy. 7H 6 % yly. (1>$%Q-J)
* *
in L & T a x .
D ie s . P a id .
D e fic it.
Dec. 31 1918........ $1,247,629 $]30,150 581,348 (6%)$51,000 $2,198
Doc. 31 1917........ 1.048.143
.J J ;815, «>%) 51,000
1.546
Taxes in 1918 wero $25.691. -(V. 106, p .2122,
2314; V. 107, p. 180,801.)
★ BOSTON I ERA1IN AL CO. Owns Southern Union Depot in Boston*
opened in 1899. V. 6 8 . p. 40; V. 69. p. 591. N. Y. Central (Boston & Al*
bany), Boston & Prov., Old Colony and N. Y . N. II & Hartford IiR cos
own tho $500,000 capital stock and pay as rental In monthly installments
sums sufficient to pay all expensos, charges. Interest on bonds and 4 % on
stock. Those companies aro Jointly liable for any deficiency in case of
foreclosure. Reg hit. Q.-F ; coup. F & a . Federal M gr., E. J. Pearson.
New Haven, Conn.— (V. 93, p. 1598.)
BOYNE C IT Y QAYLORD & ALPENA R R .— Soo page 132.
BRAZIL R Y — Plan, V. 105, p. 1102; V. 107, p. 81,290, 801, 2008. 2097.
BROWNSVILLE & MATAMORAS BRIDGE C O .— Seo pago 132.
★ BUFFALO CREEK RR.— Owns 6 miles of terminal road In Buffalo. N .Y .
In Deo. 1889 leased for term of charter less one day to the Lehigh Valley and
the Erie R R .. which together own entire capital stook of $250,000. Rental
is lnt. on bonds. 7% on stock and organ, expenses First Ref. bonds are Is
suable to retire old 5s. Operating contract with Govt, signed on April 15
1919, fixing tho annual compensation at $409 397
V 108 u 1610’
Pres., C. A. Brunn. Buffalo,N. Y .; Sec. & T r e a s .E . A Albright’ New
York. V. 92, p. 259, 593; V. 93, p. 4 3 ; v . 108, p. 1610.
’
★ BUFFALO ROCHESTER & PITTSBUR(1H R A IL W A Y . —
in
Miles.
(S e e M a p . ) -
Operates from Buffalo and Roch., N. Y .. to bituminous coal regions;
L in e s owned
fe e —
Willow Grove to Plttsburgn, P a. .
Buffalo Creek, N. Y., to Mt.
Penn. R R .— Penn. R R . Jot. to
Jewett, Pa---------------------------- 98
Shuman Run Y, Pa____________21
Clarion Jot. to Lindsey, Pa--------- 59 Other__________________________ 9
Rochester to Ashford, N. Y _____9 4
Leased—Stock not owned—
Charlotte. N. Y., to Llnooln Park 10 Allegheny & Western—a
Indiana Branoh_________________ 7 9
Punxsutawney to Butler, Pa.,
Six branohes----------------------------- 28
&o--------------------63
Trackage—
M ile s Clearfield & Mahoning—a
Erie—Mt Jewett to Clarion Jot. 20
Clearfield to Beech Creek R R .. 26
B.&O.— Butler, Pa.,to Pittsburgh 41 Mahoning Valley R R __________
2
Ribola Jet. to New Castle___ 3 3 ,
Total Dec. 31 1918 (a Seo separato statomont for this company) 590
mJ}G 'T .SuCCe*n0ri 'SSL0? . ? ^ * £J *,t t s b - foreclosed, plan V. 41. p 516.
The entire capital stock ($4,000,000) o f tho Rochester & Pittsburgh Coal
& Iron Co. (V. 6 6 . P-1088), carrying control o f the Jefferson & Clearfield
Goal ^ IronCo.sW as
*n 1906 (subject to tho Hen o f the General
Mtge ) to the Mahoning In^ostment Go. in consideration of $4,125,000
o f its stock, which was then distributed pro rata among the holders of
Ry. common and D™f. stocks. V. 83. p. 1468: V. 85. p. 414. 415: report.
X: 10?.- P.1 ’P,,3?)1
,. o f th,°s° coal companies sco “ Industrial Cos.”
Clearfield & Mahoning Ry. securities are guaranteed.
DIVS-— r 0 3 ,’04-’06. *07. 'p 8.’0 9 .’ 10. *11. ’ 12. ’ 13. ’ 14. ’ 15 ’ 16 ’ )? 18
Oommon%l 5K 6 y l y 5 J j 4 H 4 4
5 5 1 4 6
5,
4 5 6
5
In 1918, Fob., 3% : Aug., 2% ; Feb. 1919, 2% . V. 107, p. 500, 603.
'
above) paid on Its stock in 1907. 2% : In
1908, 4% : 1912 and 1913, 3% ; 1914, 214%; none since till 1917, 6 %,
Mar. and June 1918. 3% each. V. 8 8 . p. 685: V. 94, p. 419: V. 99. p. 23§.
Compare above and V. 107, p. 798. V. 85, p. 283.
1
fop 55,573,000 reserved for prior bonds, &c.
The $35,000,000 50-year Consols are to bear not over 4 14% lnt., $3,000.
000 were Issuable at once, $18,145,000 to retire underlying obligations at
or before maturity and the remaining $13,855,000 for future requirements.
Pz.367• i.306; V, 85. p. 30. 414; V. 95, p. 361, 749: V. 98. p 999.
1 3 l 5i X : " ’ p - 118- 1748; V. 1 0 0 , p. 228.
In April 1919 *14.12?,p0() Consol I H f wero outstanding, including $2,285,000 sold in March
1919. V. 108, p. 1390; V. 106, p. 1688.
Equipment Bonds. A sinking fund of 5% will retire series A, B & C
equipment bonds annually on May 1 , if purchasable at or below par: other
wise to be applied to the purchase of additional equipment. V. 6 8 . p. 1131:
Ya 7!*P-®01: v . 73. P-348. Series D and E have an annual sinking fund of
6 % for purchase of bonds Sept. 1 and Mar. l, respectively, at 105 and lnt.: if
not purchasable, bonag may be drawn by lot. Series DAB may also bo called
as an entirety at 10o. Series F may be purchased by sinking fund at not
over par or drawn by lot at par and may also be drawn at 1 0 2 and lnt. on
Rate
%
When
Payable
300,000
90.000
6
5
J & ,T Jan 1 1944
A & O Apr 11943
4g
4
A & O Apr 1 1924
4 A S A & O Oct 1 1910
M & N May 1 1923
3*
4
.1
& J Jan 1 1922
10
Q—J Apr 1 1919 2 A
J &, J July 1 1923
6 g
4
J & J10 July 10 1918 2%
In 1918 Q —J Apr 1 19 1>*%
4 A K J & J15 July 15 1927
Feb 1 1947
Text
3A
J & J Jan 1 1937
5
5g
4
5g
5g
J &
M &
J
&
J &
21
Last Dividend Places Where Interest and
and Maturity
Dividends are Payable
5,500,000
J & D June 1 1920
4
1.050.00C 3 A & 4 .1 & 1) June 1 1920
673,00C 3 A & 5 .1 & I) June 1 1920
1.000.00C
-l (? M & 8 Sept 1 1943
290,00C
J & .) Jan 1 1921
3 A
969,000
J & .1 Jan 1 1923
3A
5,000.000
4
M & N Feb 1 1937
500.000
J & D June 1 1920
4
4,200.000
4
Various 1927-1928
2,275.000
A & O Oct 1 1920-21
3A
A & o Apr 1 1927
2 . 0 0 0 .0 0 0
4
3.660,000
4
M & N May 1 1925
2,400.000
M & N May 1 1928
4H
1 ,2 0 0 .0 0 0
.1
4 A
& J Jan 1 1932
400.000
J & J Jan 1 1933
4A
1.872.000
5
J & J Jan l 1934
573.000
7
J & J July 1 1924
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
1 .0 0 0 &o
1 ,0 0 0
100
1 ,0 0 0
100
100
1 .0 0 0
1 .0 0 0 & 0
100
A B O S T O N R E V E R E B E A C H & L Y N N R R . — Owns narrow-gauge road
from Lynn to Bast Boston, Mass., 9 miles, connecting with Boston by com
pany's ferryboats; East Boston to Wlnthrop, 5 miles; also Wlnthrop to
Point Shirloy, 1 mile. V. 94. p. 982; V. 95, p. 1121, 1402. Faros V 106
p. 2122, 2344; V. 107. p. 180.
’
’
luu’
G ross.
Amount
Outstanding
1.00C
i ,ooc:
Owns $21,918,900 common ana $654,300 prer. stock ot the Boston & Me.,
or 52.9% ot stk., tor which has been Issued $27,293,900 non-voting 4% oum.
pret. stook, redeemable at 1 1 0 , guar., prln & dlvs., by endorsement by the
$24,493,900. V. 93. p. 870. 1461; V. 94. p. 205; V. 95, p. 968.
In March 1914. under order of court to divorce the system, the B. & M.
stock was transferred to five trustees, viz.: George W . Anderson and
James L. Doherty of Springfield. Mass.; Henry B. Day and Charles P.
Hall of Boston; Frank I'. Carpenter of Manchester, N II., with orders to
sell the samo on or before Feb. 1 1909, but U. S. Dist. Court extended
orders to Oct. 1 1919. V. 106, p. 1688. As to receivership o f B. & M . in
Aug. 1916, see that company. V . 99, p. 47; (V. 108, p. 76.)
Y e a r e n d in g —
APrlvate
Control.
RAILWAY STOCKS AND BONDS
J Jan 1 1930
S Sept 1 1931
.1 Jan 1 1941
J Jan 1 1961
Safe Dep & Tr Co, Bost
Boston S D & Tr, Boston
do
do
Ask company's office
do
do
do
do
do
do
do
do
do
do
do
do
do
do
Office, Fitchb R R , Bost
do
do
do
do
do
do
do
do
do
do
Met Trust Co, Boston
Safe Dep &Tr Co, Boston
do
do
do
do
do
oo
Bos & Maine RR, Boston
Treasurer's office, Boston
See text
Office, or cheeks mallej
State St Trust Co, Boston
Mercb National Bk. Bost
Grand Rap, Mich, Tr Oo
St Louis Union Trust Co
New York Trust Co.
U S Mort & Tr Co. N Y
do
do
any lnt. day
V. 84. p. 1385; V. 85. p. 283, 414. 863. V. 105, p. 2183.
Series G have an annual 6 % sink, fund to retire bonds at par: If not purchas
able, bonds to be drawn by lot. V. 89. p 46S; V. 91. p. 400; V. 93. p. 1785.
939: V. 94. p. 122: V. 97. p. 364. Series H. V. 97 p. 1582: V. 98. p. 1459;
Series J, V. 105, p. 388, 605. (No Series I.) Series K, V. 107, p. 1099,
2375.
EARNINGS.— For cal. year 1918 under Govt, control. V. 108, p. 1610.
1918.
1917.
1918.
1917.
Govt.compen .$3,276,410
______ Eq't,&c.,rentTs.
_
$319,061
Oper. revenue. --------- $14,975,000 Rent leas’d lines,
Opcr. expenses.
52,281 11,878,566
interest, &C.2.205.026 1,847,195
Tax accruals &
Appropriations.
29,35
671,715
incollectibles. xl50,000
506,359 Pref. divs. (6 % ) 360,000
360.000
Rentals & other
Com. dlvs. (5% ) 525,000
630.000
_______
incom e......... 279,208 1,316,0011 B al„ surplus. $233,956
$78,105
x Under the agreement with tho Director-General only the Federal taxes
(cst. this year at $150,000) are to be paid by the company.
REPORT.— Year ends Dec. 31. Report for 1917 in V. 106, p. 918, 936:
— Years ending Dec. 31------- Years ending ■June 30—
1917.
1916.
1916-17.
1915-16.
Passenger......................... $1,313,594 51,214,352 $1,144,892 $1,101,981
Freight.............
13,119,838 11,036,335 1C.381.647 8.022.690
Mail, express, &c...........
541,567
511,068
444,480
355.265
Total oper. revenues.$14,975,000 $12,761,755 $11,971,019 $9,479,936
Net. after taxes...............S2.590.075 $3,108,518 $3,072,101 $2,314,087
1,316,001 - 1,125,274
1,016.099
718,646
Other income................
Gross income.................$3,906,076
Ronts accr. lease of rds
$373,500
lnt. accr. on fund, debt
1,446,495
Other lnt., rents, & c._
373,633
New equ ipm ent...........
76,054
Retire’t o f equip, bonds
568,299
Divs. on pref. (6 % )-----360.000
Dlvs. on common...........(6)630.000
$4,233,792
$373,500
1,388.057
374,795
179.391
679.000
360.000
(5)525.000
$4,088,200 $3,032,733
$373,500
$373,500
1,412.177 1,437.578
361,309
330.444
127,394
65,414
521,000
45,797
360.000
360.000
(4)420.000 (4)420,000
Balance, su rp lu s-----$78,105
$354,047
$512,820
.............
In 1917 carried 10,215,591 tons of bituminous coal (out of 15,825,562
total tons or freight moved), against 9,296,181 In 1916.
OFFICERS.— Pros.. Wra. T. Noonan. Rochester: V.-P., Adrian IsellnW. Emlen Roosevelt, N. Y .; Treas., J, F. Dinkey, Rochester; Sec. & Asst.
Treas., Ernest Iselln, New York.
Gen. Mgr. under U. S. Govt., Thos. F. Brennan, Rochester, N Y .
Directors— Henry G. Barbey. A. Iselln William E. Iselln, Walter G.
Oakman, C. O'D. Iselln, W. T. Noonan, George E. Roosevelt. W. Emlen
Roosevelt. Ernest rseliu. O'Donnell Iselin. Oscar Grfsoh. Samuel Woolverton. Hamilton F. Kean. N. Y. office, 36 Wall St.— (V. 108, p. 783, 1610.)
★ BUFFALO & SUSQUEHANNA RAILROAD C O R PORATION .—
Owns from Sagamore. Pa., to Wellsvllle. N. Y .. with several branch lines.
Incl 59 miles trackage. Total mileage Doc. 31 '9 1 8 . 297; Incorp. In Penn
sylvania and succeeded Dec. 31 1913, per plan V. 98. p. 1503. the B. & 8 .
RR.. foreclosed Dec. 5 1913. V. 97, p. 1582; V. 93. p. 1596. For descrip
tion or property see annual report for 1914 In V. 100. p. 1007: also p. 980.
Connects at Driftwood Jet. with Pennsylvania RR. for Buffalo.
“ ADVANCES" AND “ STANDARD R E TU R N ,” &c.— Seo page 5.
Compensation under Federal control, $592,628; contract had not been
executed up to April 19 1919.
STOOK.— Authorized (par $100). common, $3,000,000; 4% pref. ( d . &
d .). cumulative after Jan. 1 1915, $4,000,000. Will be held in voth g trust
until Jan. 1 1924. P. G. Bartlett, J. S. Farlee and Herbert II. Dean,
all of N. Y. City, voting trustees. Listed In Philadelphia. V. 100, p. 1691.
D IV ID E N D S—
1916
1917
1918
Mar 1919
On common stock__________ 5
5 & 2 oxt
7
1 A & A ext
On pref. stock in full to date. In l9 1 8 p a id : M a rch ,\H % \July, 1 A % ;
Oct., 1 K % : Dec. H of 1% and an extra of 2 % — making a total for the
year of 7% . In 1919, March, 1M& A extra. V. 108, p. 1059.
BONDS.— The first M . bonds ($10,000,000 auth.) are secured on the en
tire property and further by deposits of mortgages aggregating$1.079,116
on coal lands of the Powhatan Coal & Coke Co., and of a second mortgage
for $1,300,000 on the properties of the Buffalo & Susqeubanna Coal & Coke
Co., and of all the stock of the Addison & Susquehanna RR. and all the
stock and bonds of the Wellsvllle Coudersport & Pine Creek RR. and of all
the stock of the Keystone Store Co. V. 73. p. 619, 899; V. 84. p. 748.
Of the bonds. $6,959,000 have been Issued. Tho remaining $3,041,000
bonds, or any of them, may bear not to exceed 5% Interest and can be Issued
only for additions, extensions. Improvements, acquisitions of property or
acquiring or discharging liens on property o f corporations i n which 90% of
stock Is owned. Sinking fund for redemption of bonds at not to exceed par
and lnt.. $50,000 per ann. for 35 years; also all sums In excess of $50,000 per
ann. received on account o f principal of any mortgages held as collateral
under such mortgage and any farther payments authorized In case of issue
of further bonds or otherwise. Bonds retired through operation of the
sinking fund to be held alive. To Apr. 1 1919, $581,800 had been retired,
while $368,500 were held in treasury and $6,008,700 were outstanding.
V. 97. p. 1503; V. 98. p 1765: V. 100. p. 980, 1006.
BUFFALO & SUSQUEHANNA COAL & COKE CO.— This company
the $1,300,000 2d M . 5% bonds of which are owned by the B. & S. RR.
Oorp.. owns coal lands at Du Bois, Onondaga and Sagamore, Pa.
Six mines in operation. V. 77. p. 1301; V. 79. p. 2091-92: V. 82. p. 1322:
V. 85 .p . 1266. 1st M . 5% bonds. $1,500,000, held by public.
POWHATAN COAL & COKE CO.—This oompany, all ol whose bonds
arc owned by the B. & S. RR. Corn., owns ooal lands at Tvler and at
Sykes. Its coking plants have a capacity of 1,800 tons of coke dally. K ey
stone Store Co., stock $50,000. all owned by R R . Oorp.
EARNINGS.— 12 m os.,/1918.Gross, S2,249,666; net (bef.) def.$17.929
Jan. 1 to Dec. 31. ( 1917.Gross, 1,785,856; taxes).
374,833
kS
C A N A D IA N
P A C IFIC
R A IL W A Y
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jsjiim.an'1
T he Min n eapo lis , S t . Pa u l & S ault S t e . Marie Ry .
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DOUBLE TRACK
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■ MSS UNDER CONSTRUCTION
»••••• TRAFFIC ARRANGEMENT
OR TRAFFIC RIGHTS ONLY
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★ Government
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24
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
[For abbreviations, Ac., see notes on first page]
Miles Date
Road Bonds
Par
Value
Amount
Outstanding
Rate
%
When
Payable
AP
Crivate
ontrol.
Last Dividend
and Maturity
[V ol . 108.
Places Where Interest and
Dividends are Payable
Feb 15 1919 2 30 Wall St. New York
$100 $10,500,000 5 In 1918
8uffalo Rochester & Pittsburgh— Common stock..T r
do
do
Feb 15 1919 3
100 6.000.000 6 In 1918
Pref stock non-oum common 6% then pro r a t a .-lr
do
do
Feb 1 1921
1,300.000
1,000
6
g
109 1881
R & P 1st M gold Roohester to Salamanoa.Un.zo*
do
do
Deo 1 1922
02
1,000 3.920.000
234 1882
Rochester & Pittsburgh Con M g .........-----U n .z o *
do
do
Sept
1
1937
4,427,000
6
2
1,000
1887
253
B R & P First Gen mtge (510,000,000) gold-Un.zo*
do
do
Jan
1
1939
&
350.000
5
2
1,000
10 1889
Lino P & Chari 1st M gold guar------- ----------Un.zo*
do
do
May 1 1957
&
4H 2
368 1907 1,000 &0 14,129.000
B R & PConsol mtge $35,000,000 gold--C e.x.o**r
do
do
May
1920-21
M
&
N
2,135.000
1,000
4H
g
'99-01
Equipment bonds B & C, eaoh gold s -------------- Gx
do
do
Nov
11919
M
&
N
261.000
1,000
4H g
1902
do
D $2,000,000 gold red 105 slnktundx.........
do
do
576.000
4 M e M & N May 1 1922
1,000
1904
do
E $2,000,000 gold red 105 sink fun......... dx
do
do
Apr
11927
&
O
4H
g
1,053.000
1,000
1907
do
F $3 ,0 0 0 ,0 0 0 gold red sinking fund--------- x
do
do
& O Oot 1 1929
42
1,731.000
1,000
1909
do
G $3,000,000 gold Sinking fund.... Oxc*
do
do
Jan’20to
Jan'30
&
5
g
1,375.000
1
.
0
0
0
1913
do
II gold $125,000 due yly te x t-- Q.xc*
do
do
Oct
’
19
toOct’33
1,450.000
1
.
0
0
0
5g
1917
do
J gold (no “ I” ) $50 000 due s .a .. Clk.yc*
do
do
F & A Aug’ 19toAug’33
1,160,000
6g
1,000
...
1918
do
K $40,000 duo s -a----------------- . . . Cekc*
By trustee’s check on NY
See text
3,000.000
m o
...
B uff & Susa RR Corp— Common stock $3,000,000
do
do
Dec 31 T8, 2%
100 4.000.000 See text
Preferred stock 4% cumulative---------------------- -—
E. B. Smith* O o ..N . Y
4 g J & J Dec 30 1903
100 &c 6,008,700
—
—
First mortgage $10,000,000 gold------------ -— Eq.x
B ullfrog-G oldfield RR— See Las Vegas & Tonop Co
Burlington Cedar Rapids & Northern—See Chicago R ook Is) and & Paolflo R y.
Burlington & Missouri Valley— See Chicago Burllngto n & Q uinoy.
Guaranty Tr Co. N Y
6 g F & A Feb 1 1944
1,000 3.000.000
140 1914
B utte A & P— 1st M g gu sk fd cad 105------yc*&r*
See text
M & S Mch 11901
4
1,699,000
1,000
25 1911
Cairo & Thebes RR— First mortgage . . . - . - . ~ x
Calgary & Edm onton— See Canadian Pacific Ry
Anglo-Oal Tr Co, San Fr
Oct
1
1934
A
&
O
See text
6
51 1914
Cal W RR & N— New mortgage $750,000-----------Cambria & C learfield— See Pennsylvania RR
Girard
Trust Co. Phlla
May
1
1930
M
&
N
711.000
1.000
5
g
1911
26
Cambria & Indiana RR— 1st M gred 1021$ GPxc*&r
Girard Trust Co, Phil
500.000
5,000
6 g F & A Aug 1 1919
1917
2d M. gold notes call. Aug. 18-Ieb 19 100JS .xxxGP
J & J Jan 1919 3% Broad St Station, PhUa
492,575
6
25
39
Camden & Burlington County— Stook 0% guaranteed
do
do
350.000
4 2 F & A Feb 1 1927 •
1.000
30 1897
First M g gu p & 1 by Un N J RR & Can Co.QP.xo*
Canada A tlantic— See Grand Trunk Ry
Royal Tr Co, Montreal
J & J Dec 31 1930
740,000
5g
1,000
36 1910
Canada & O ulf Terminal Ry— 1st M $740,000 gold
F & A Febl 1919 1H% Grand Cent Term. N Y
3
100 15.000.000
------- - - - - - - - - — - - - Canada Southern—Stock
do
do
5 g A & O Oct 1 1902
380 1912 1,000 &c 22.500.000
Cons guar gold bonds (1st M on main lino) G.zc**r*
Agts Bk of Montreal. N Y
4 cr A * O Oot 1 1945
1 8 0 .0 0 0
1 .0 0 0
14 1895
Leamington & St Clair 1st M g gu p & 1 (end)..zo*
nadlan Government.
owned
by
the
Ca
All
owne
d
or
to
be
100,000,500
$100
C anadian N orthern— Stock 5125,000,000-----Funded debt, see following page.
t
&o
REPORT.— For cal. years 1917 in full, V. 100, p. 2004, 2030.
1914.
1915.
1910.
1917.
1,538,228
1,705,750
1,970,978
Coal and coke tonnage- 2,008,330
Total operating revenues $1,785,850 $1,078,080 $1,532,803 $1,446,196
$1,244,945 $1,209,396 $1,286,702
Operating expenses------$1,411,022
31.200
31,200
31,204
112.345
Taxes, & c.......................
$128,294
$292.26V
$402,537
Operating Income-----$202,488
193,053
197,880
309.405
Hire of equipment.........
x473,243
140,143
154,454
152,570
Income from funded sec.
101.193
57.152
62.906
49,501
-40,094
Other Income_________
$937,018
$914,013
$707,507
$518,642
Gross income_______
(1) Corporate income account based on tentative Federal compensation
(see “ x” below):
1Qlg
1918.
Tenta. Fed. compensation-$592,628 Sinking fund........................... $19,414
Pref.
dividends
(4%
)--------160,000
Other income_____________ 205,267
Interest--------- ----------------- 244,829 Common dividends (7 % )-- 210,000
Taxes ($52,000), rents, & c. 224,312 Balance, surplus__________ 79,728
(2) Federal income account (see “ <r" below):
,
_
rents_______
(>^$193,369
Railway oper. Income-----$2 ,249,6661Equipment rents—
- — Cr.$193,36.
Net from railway oper.-def. 17,929 Jolnt_facility rents, &c— Dr .34,224
Railway tax accruals_____
38,8001Net income---------------------- 102,416
x The road in the past has enjoyed a large credit balance on hiro of equip
ment account, and its earnings therefore as reported by the U. s. lilt.
Administration have been seriously curtailed by the action of the Admin
istration in Juno 1918 in waiving the per diem plan for the lines under
its control.
DIRECTO RS.— E. R. Darlow (Pres.), A. A. Jackson, P. G. Bartlett,
_________ Herbert II. Dean, J. S. Farlee. Percy C. Madeira,
W. Hincklo Smith. Julius F. Workum, Charlton Yarnall. Albert L. Smith
and J. Rutherford McAllister: F. E. Hall (Sec.-Treas.); Auditor, T . J.
Elmer, 977 Ellicott Sq., Buffalo.
_ ,
^
Gen. M gr. under U. S. Govt., A. M . Darlow, Buffalo.— (V. 108,p .1059.)
‘•BURLINGTON.” —See CHICAGO BURLINGTON & QUINCY RR.
A BUTTE ANACONDA & PACIFIC RY.— Owns Butte to Anaconda.
Mont:, and west to Southern Cross. 49 miles; spurs, 34 in.; sidings. 57 m.,
total. 138 m.; also leases Stuart to Anaconda, 9 m.: total. 149 miles, or
which 122 miles operated electrically. V. 97, p. 1114: V. 96. p. 135. Stock,
$2,500,000. of which Anaconda Copper Co. owns 51 % and Chic. Mllw &
St. Paul Ry. 49%. Dividends: 1910 and 1911. 6% ; 1912. 3% and 150%
Instock; year ending June 30 1915, 5%
Bonds ($5,000,000 auth. Issue),
of which $3,000,000 have been sold, are guarariteed prin.and Int. by Ana
conda Copper Mining Co.
V. 98. p. 837. For
ending D**. 31
1917, gross, $1,789,396: net, $367,176: charges, $219,590; bal., sur.,
$147,585— (V. 101, p. 1884.)
★ CAIRO & THEBES RR.— Owns Cairo. 111., to the bridge across the
Mississippi River at Thebes, 111., 25 miles. Leased to St. L. I. M . & So. Ry.
(now Mo. Pac. RR.) for 99 years from Mar. 1 1911, rental covering Int. on
an authorized Issue of $2,000,000 4% bonds, of which $1,099,000 are Issued
and outstanding, all owned by L. & N. V. 95, P. 1121. Columbia Trust
Co. of Louisville. Ky.. trustee. Stock, $10,000: par, $100. Pres.. A.
Robertson, St. Louis.— (V. 95, p. 1121.)
ACALGARY & EDMONTON RY.— Owns Calgary Jet., Canada, to Ed
monton, Canada, 192.8 miles, and to Fort McLeod, Canada, 107 miles: Wetaskiwin to Hardisty, 100.2 m.; Lacombe to Kerrobert, 223.1 m.; total,
023.4 miles. V. 93. p. 1785: V. 94. p. 910.
,
4 .
In 1903 re-leased to Canadian Pacific (which owns entire $1,000,000 stock
and $5,900,000 1st M. 4% bonds) for 99 years: debenture stock Interest
Is guaranteed at 4% . In 2002 the bonds will be paid or a further lease en
tered In to. V 76. p. 434: V. 77. p. 1224: V. 80. p. 116.— (V. 94, p. 910.)
A CALIFORNIA-WESTERN RR. & NAV. CO.— See page 132.
A CAMBRIA & INDIANA RR.— See page 132.
★ CAMDEN & BURLINGTON COUNTY RY.— Owns rrom Payonta..
N. J.. to Pemberton, N. J . 22.34 miles: branch. Burlington. N. J., to Mt.
Holly. 7.12 m.; connection with P. &. A. RR. at Birmingham. N. J.. 0.3
m.: other branches, 8.92 m.: total. 38.77 m. Organized in 1915 as a con
solidation. Auth. capital stock, $800,000. V. 101. p. 46, 1092; V. 102.
p. 05. Operated under lease by Penn. RR., which guarantees 0% on stock.
In 1917. rental due, $42,727: deductions, $14,118: divs. (6% ), $28,027;
surplus, $582.— (V. 101, p. 46. 1092.)
ACANADA & GULF TERMINAL RY.— Owns Ste. Favie to Matane,
Que., 36 miles. Stock authorized, $4,000,000: par $100. Bonds, see
table. Pres., M . J. O’Brien, Ottawa, Ont.; V.-Pres., Hugh Doheny,
Montreal, Que.: Sec.-Treas., A . Bech, Montreal, Que.
CANADA MICH. & CHICAGO.— Bonds worthless.— (V. 03. p.838.)
CANADA SOUTHERN RY.— (See Maps New York Central Lines.)—
ROAD.— Main line from Suspension Bridge station. Including the Cantilever
Bridge, to Windsor. Ont., 226 m.; branches to Courtrlght, Ont., &c., and
controlled lines. 154 m.: total. 380 m.; Canada So. Bridge. 2 m. Track
age, St. Thomas to London, Ont., 15 m. Double track. 242 miles.
ORGANIZATION. ETC.— The company was chartered in Canada
Feb. 28 1868 and debt readjusted In 1878. In 1903 made a new lease to
Mich. Cent, for 999 years, the latter, which owns $7,810,000 stock, guaran
teeing divs., rate since Jan. 1 1911,3% yrly. Y. 76. p. 1191, 1247.
The Mich. Cent, guarantees, prin. and Int. of $40,000,000 60-year bonds
remaining $17,500,000 are reserved to refund the $130,000 divisional bonds
and for additions, extensions. Improvements and additions at not over
$3 000.000 yearly. Bonds arefree of Canadian taxes. V. 95, p. 1607. 1744
V. 96. P. 134. 200. 789, 1421.— (V. 96. p. 1884. 1972.)
CANADIAN NORTHERN RAILWAY SYSTEM.— The Canadian
Northern Railway Systom, with a maximum grade or practically H
ofl% , in June 1918 had in operation about 9,700 miles of road extending
from Quebec, Montreal and Toronto to Vancouver, British Columbia, with
many branches and Intersecting lines in tho provinces of Quebec, Ontario,
Manitoba, Saskatchewan and Alberta. V. 105,p. 1207,1103: V.107, p.1286.
Mileage Operated and Sub. Co's Stock Owned by System July 1917.
J *
Miles o p . ---- Capital Stock 1917----*See separate statement for this company. M a r'll
Total._____ ^
♦Canadian Northern Pacific Ry________ 502 $25,000,000 $25,000,000
Canadian Northern Alberta Ry________ 259
3,000.000
3,000,000
21000.000
2.000.000
Canadian North Western Ry----------------- 263
See above
Canadian Northern Ry_________________ 4,918
1.000.000
1,000.000
Canadian Northern Saskatchewan Ry—
50
10.000,000
10.000.000
♦Canadian Northern Ontario Ry............... 1,508
53,000
53.500
Irondalo Ban. & Ottawa________________
52
3.329.000
3.331.000
♦Central Ontario Ry----------------------------- 167
1.395.000
1.395.000
♦Bay of Quinte Ry------------------------------55
Foe owned
Brock. Westp. & N. W _________________
44
9,550.000
7,144,600
♦Canadian Northern Quebec Ry________ 356
4,002,800
4,524.000
♦Quebec & Lake St. John_______________ 285
925,000
1.000.000
Halifax & S. W. Ry..................................... 368
3.060.000
6.000.000
♦Duluth Winnipeg * Pacific Ry________ 171
4,446,700
6.181,500
Northern Consol. Holding Co__________ - -
Northern Pacific & Manitoba Ry_______ 351 (Leased from Nor. Pac.—
V. 73, p. 615.)
62 (See "Elec. Ry. Section )
Nlag. St. Catherines & Toronto Ry.
Total (see V. 105. p. 1305)...................9,410
In 1918 rails on 94 miles of road In British Columbia were removed and
sent to France under arrangement for joint operation with Grand lrunk
P a c i f i c of road in this region.
. . . .
, .
, „„„
In Sept. 1917 the cost of completing the then remaining 1,003 miles of
road and terminals was estimted at $20,958,142, Including $7,18o,300
to be expended in 1918. V. 106, p. 2223.
In Nov. 1918 an Order-in-Council was passed transferring tho manage
ment and operation of all the other Government railways, in Canada
to the board of directors which had been appointed to manage the Canadian
Northern Ry. system, who now operate the same, viz.: (in miles)
275
Can. Nor. Ry. System___ abtlO.OOO Prince Edward Ry---------------36
Intercolonial Ry. and brandies 1,811 New Bruns. & P. E. Island Ry.
International Railway of Now
NationalTranscont. Ry., Win
Brunswick________________
422
nipeg to Moncton................. 1,518
This combine for operating purposes makes a Government system of
about 14,000 miles extending from Sydnoy, N . S., to Vancouver, B. C.
Compare V. 106, p. 2344. V. 107, p. 2096.
The Can. Nor. Ry. also owns all the capital stock severally of the Cana
dian Nor. Manitoba Ry., $250,000 Can. Nor. System Terminals. Ltd,
(V. 85. p. 863), $2,000,000 M t. Royal Tunnel & Terminal (see that com
pany and V. 104 p. 1898), $5,000,000, &c. Subsidits. &c.. V. 105. p.1207.
Total capital stock of affiliated cos. not owned Sept. 30 1917. $5,947,100.
, . 106, p. 2223. Canadian Niagara Brklgo Co. and ’1oronto Niagara &
Western Ry. (wholly controlled). in Y. 106, p. 1901, 2010; V. 107, p. 2183.
The Mt. Royal tunnel Into Montreal was opened for traffic Oct. 21
1918. V. 107, p. 1384t
DOMINION CONTROL AND LOANS.— In 1914 tho Canadian Gov
ernment guaranteed $45,000,000 of 4% debentur&s and took ovor $40,000,
000 of the capital stock as then increased to $100,000,000. V. 98. p. 1600,
1607 1918. Also in 1914 loaned the company $10,000,000 Dominion notes
and in 1916 a further $15,000,000 cash (V. 102, p. 1981: V. 105. p. 1207).
in 1917. undor Act of the Canadian Parliament, tho Government,
having contracted to acquire $90,000,000 of the $100,000,000 stock
advanced to the roads of tho system $25,000,000 with whichi to.meet cou
pons and other maturing obligations (V. 105. p. 496, 996, 1207, 2271, 2364,
V. lOti p. 2344. In 1918 further agreed to assist the company by guaranty
of principal and interest, in ronewing or postponing maturing obligations
of the system. V. 106, p. 1796. 2223. Also in 1918 voted to grant:
"A loan not exceeding $25,000,000. repayable on demand with interest,
payable half-yearly, at the rate of 6% , to be used to meet expenditures made
of indebtodnass incurred in paying int. on securities or paying maturing loans
of the Canadian Northern Ry. Co. or any company Included in tho Canadian
Northern Ry. System, to meet deficit in operation of the Canadian Northern
Ry. System and for construction, betterments and the purchase of equip
ment; said loan to be secured by mtge. upon the undertakings or the system.
C°I^^e™tM918^he Canadian Treasury paid $18 a share for tho $60,000,000
stock not acquired in 1914, including both the Mackenzie-Mann and
minority shares. V. 106, p. 2344: V. 107, p. 1191.
CAPITAL STOCK.— Of the $125,000,000 cap. stock as increased In
1914 $25 0 0 0 .0 0 0 was issuable only In oxchango for Income Charge Stock.
V. 98, p. 1600: V. 100, p. 393: V. 105, p. 996.
FUNDED DEBT.— The funded debt of the entire system Issued,
pledged and outstanding, and also tho floating debt, was given in detail as
of June 30 1917 in V. 106, p. 2223, 2336.
„ , . 1n1.
. .
The issue of $45,000,000 debenture stock was guaranteed In 1914, princi
pal and Interest, by the Dominion Govt, under plan outlined in V. 98. p.
1600, 1607, 1918. In Juno 1917 $44,860,007 of this Issue had been disposed
of as follows: Sold In 1914 and 1915, 517,033,333 (£3,500.000); pledged
with Dominion Govt, against advance of $10,000,000 Dominion notes,
$12,500,000; pledged as part security for' 2-yoar 6% notes for $11^500,000,
$15,333,333. See also V. 102. p. 1982: V. 99, p. 209. 341, 536, 747. 1129.
14Particulars regarding various of the securities Issued were given in V. 106,
p. 2223. 2336: V. 105, p. 1304: (a) Porpetual consol, debon. stock V. 76,
p. 1247: V. 77^ p. 87: V. 80. p. 996: V. 81. p. 1609: V. 80, P. 1099: V. 87. p.
36; V. 89. p. 1279: V. 90. p. 770. 1424. 1489; V. 93. p. 406: V. 94, p. 1695:
V 08 d . 1601. (6) 3% 1st M . debenture stock, guaranteed by Dominion
Government, dated July 29 1903. V. 80, p. 1234: V. 70, p. 1299. (c) Cana
dian Northern Alberta, V. 90, p. 1295: V. 92, p. 794, 880. V. 93, p. 162,
V. 96. p. 28*1. (d) Debenture stock, guar, by Province of Saskatchewan
and Province of Alberta, see V. 89, p. 40: V. 88, p. 761, 1497. 1619: V. 91.
APR
1Q1Q I ★ G
ov
AtMd.j
co
nern
trol.ment
RAILWAY STOCKS AND BONDS
APrivate
25
Control.
IImoro?.ED Dn BT ? F CANADIAN NORTHERN R Y . SYSTEM JUNE 30 1917. (Subsequent changes ch iefly n ote is s u e s -s e e text).
[Interest Is payable seml-ann. on dates Indicated by maturity except as follows: a M. 31 & S. 30: b J. & D.; c J. & J. 20: d M. & N.; e J. & D. 30: &A.& Q.;h J. & j
Date of
Amount of
Held by
Amount
Date of
Amount of
Held by
Amoun
Security—
Maturity. Total Issue.
Public.
Pledged.
Security—
Maturity. Total Issue.
Public.
Pledged.
(1) Guaranteed by Dom’n Govt.:
$
$
$
(7) Unguaranteed Securities—
$
$
$
Canadian Northern Ry.—
Canadian Northern Ry.—
3% 1st M. dob. stk. 1903___ JulylO 1953
9,359,997 a9,359,997
4% Perp. Cons. Deb. stk.1903 Perpetual 61,837,789 e44,943,019 yl6,894,77C
3H% 1st M. deb. stk. 1908..July20 1958 7,896,588
7,890,588
4% 1st M. Pas Mission bonds. April 1939
880,000
880.000
4% 1st M. dob. stk. 1914___ Sept. 1 1934 44.866,667 17,033,333 27,833,334
455 % 1st M. Gunflint Br. bds.June 1930
069.000
669,000
Canadian Northern Alberta Ry.—
455% 1st M. Pr. Albert bds..June 1930
693,900
300,000
393,900
3)$% 1st M. deb. stock_____May 19(50
3,149,999 b3,149,999
Minnesota & Man. Ry. 4% __ Sept. 1931
349.000
£349,000
3Vi% 1st M. deb. stock_____April 1962
3,569,996
3.569,997
Canadian
Northern
Ontario
Ry.—
Canadian Northern Ontario Ry.—
4% Perpet. Cons.Deb.stk. ’09 Perpetual xl2,658,910 9,083,628 3,575,282
315% 1st M. deb. stock_____ May 1961 35,770,000 c34,229,997
1,540,003 Central Ontario Ry.—
5% 1st M. bonds 1909........... Jan. 1 1934
945,593
.............
945,593
.104,613,248 71,669,914 32,943,334 Bay of Quinte Ry.—
(2) Guaranteed by Province of Ontario—
5%
1st M. bonds, 1902_____ Jan. 2 1927
780,000
780,000 .............
Canadian Northern Ontario Ry.—
Canadian Northern Quebec Ry.—
355% 1st M. deb. stock......... June30 1938
6,724,015 6,724,015
4% Perpet. Cons. Deb. stock. Perpetual
5,435,127
e5,250,369
184,758
3H% 1st M. deb. sto«k_____ JulylO 1930
1,135,982
1,135,982
............. Great Northern Ry. of Canada—
4% 1st M. bonds 1904______ Oct. 1 1934
3,505,750
3,505,750
.............
. 7,859,998 7,859,998
Quebec & Lake St. John Ry.—
(3) Guaranteed by Manitoba God.—
4% Perpet. lstM.deb.stk.1912 Perpetual 4,486,814
h4,359,015
127,799
Canadian Northern Ry.—
Duluth Winnipeg & Pacific Ry.—
4% 1st M. deb. stk. 1904___ Junc30 1930 12,436,280 xl2,436,280
„
4
% 1st M. deb. stock 1909...June 1 1939 8,221,907
7,011,324 1.210,583
4% 1st M. deb. stock.'...........June30 1930
4,319,999 2,859,999
1,460,000 Duluth Rainy Lake & Wimi. Ry.—
4% 1st M. Wpg. Term, bonds June30 1930 3,000,000 3,000,000
5% 1st M. bonds 1906........... Jan. 1 1916
4% Ontario Dlv. 1st M. 1901.June30 1930 5,580,607 5,580,607
tt
„
ext'd 1921)
2,000.000 2,000,000
..................
4>5% Ont. Dlv. 1st M. 1901.June30 1930
164,980
164,980
Halifax & South Western Ry.—
Canadian Nor. Manitoba Ry.—
355% 1st M. bonds________Sept.30 ’42
5,663,667
4,447,000
1,216,667
415% 1st M. deb. stock_____ June 1930
160,680
160,6S0 Niagara St. Cath. & Toronto Ry.—
5% 1st M. bonds 1899........... Nov. 1 1929 1,504,000
1,098,000
406,000
25,662,545 24,041,866
1,620,680
5% 2d M. bonds 1910______ Nov. 1 1929
536,500
.............
536,500
(4) Guaranteed by Saskatchewan Govt.—
Mt. Royal Tunnel & Term. Co., Ltd.—
Canadian Northern Ry.—
'
1st M. rent charge stock..Apr.15 1970 11,430.033 2,238,667 9,191.367
4% 1st M. deb. stock 1909__Jan.23 1939 13,709,400 b8,030,000 5,679,400 Qu5%
Appelle L. L. & $. Ry. & c . B. Co.—
Canadian Northern Sask. Ry.—
4% 1st M. deb. stock 1906...July 1 1936
i,019,540 5,019,540
4>5% 1st M. dob. stock..........Dec. 1943
1,174,813
1,174,813 ,
5% 1st M. bonds.................. Sept. 1945
300,000
........ .
300,000
14,884,213 8,030,000 6,854,213
(5) Guaranteed by Alberta Govt.—
Land Securities—
Canadian Northern Ry.—
<
4% 1st M. deb. stock 1909...Feb.25 1939 9,726,364 b5,5SG,666 4,139.699
4% (1909)L'd grant bds. (text) July 1 1938
1,852,740
1,852,740
Canadian Northwestern Ry.—
4% (1899) Land grant bonds.Feb. 1 1919 2,000,000 2,000,000
455% 1st M.deb.stk.l9l2-’ 13.Feb.l6 1942 6,424,000 b6,424,000
5% Land mtge. debs. 1913...June 1 1923 17,033,333
7,300,000 9,733,333
455% 1st M. deb. stk. 1911-.Oct.22 1913 2,799,998 02,799,998
.............
. Total......................................................
Total unguaranteed.................................... 147.803,604 102,483,646 45,319,958
18,950,362 14,810,663 4,139,699
(6) Guaranteed by Brit. Col. Govt.—
Canadian Northern Pacific Ry.—
Total
guaranteed
andfarm
unguaranteed...........
359,931,494 253,922.087
4% 1st M. deb. stock 1909...April 2 1950 20,999,998 16,412,001 4,587,996 f hnrt-tnrm
nntn laaiioa
tav«\
__ 106 ,009 ,407
vy‘
455% 1st M. term'l stk. 1913.April 2 1950 8,614,000 8,614,000
455% 1st M. branch lines stk.April 2 1950 5,543,528
5,543,528
455% 2d charge deb. stock...April 2 1950 4,999,999
4,999,999 1
.............
............. 287,595,420
!5,000,000 25,000,000
Total.......................................................... 40,157,524 25,026,001 15,131,523 1
............. 14,846,500
-------------- --------------- uanaaian inor. (joai <s ore Dock Co.—
79,768,528 27,746,115 | 5% 1st M. callable at 105----- Jan. 1 1936 2,000,000
1,750,000
(7)
x Includes $1,652,233 reserved to retire the following underlying Issues, viz.: Can. Nor. Division 4s of 1899 due TVh i iooq' «i 117
, V ' .,
eastern 4s of 1899, due Feb. 1 1929, $512,460; Gilbert Plains Branch 4s. of 1900, due Nov 1 193o! $2,433 y In June-1918i & ’m ji M of A - - - -1 In
■- treasury.
- nltoba & South'
p. 1322; V. 91, p. 1316: V. 97, p. 1582: V. 98, p. 761. (e) Canadian North
F Tniv W e r ^ 6 T s' ’ C 7 ---------«ross, $26,621,400; net. $2,808,600
ern Wostorn Ry. 1st M . 4
guar. prin. & lnt., by Province o f Alberta
---------Gross, 21,856,800; net, 3,335,100
V. 93, p. 1721; V. 97, p. 1583; V. 98, p. 610, 838,1155: V. 108 p 479
12 months ending
(1918-------Gross, $42,450,600; net, $3,926,500
(e) 1st M . consol, deb. 4s o f 1904, V. 78, p. 1274- V 70 n 2704- V 8 0
Juno 30.
11917-------Gross,
41,244,700; net, 10,404.400
P- 116; v . 81, p. 1607; V. 82, p. 568. (f) Winnipeg Terminal 4 s V 80*
p. 665, 1480. See also caption o f the leading subsidiaries b e lo w ................
R E p O R T .-Y e a r ending June 30 1917, V. 107, p. 2183; V. 106, p . 2223’
2336.
Grain
traffic
in
1917,
V.
105,
p.
1522.
V
INCOME CHARGE STOCK.— T ho5% Income Charge Oonv rich stir
limited to $25.000.00) Is red. at any tltne atter A la f 6 1920 And ls'con
June 30 Years—
1916-17.
1 9 1 5 -1 6
1 0 1 4 .1 k
vertible until Jan. 1 1922, at holders’ option, into full-naid common shar]^
Average No. of miles operated ______
9 ,3 9 6
8 o'lS
7^69
*500 (or £102 17s.) of deb. stock for $500 capHa?stock. on 30 days’ notiw
$43,495,077 $35,476,275 $25,912,’ l06
The Interest la payable May 2 and Nov. 2 only to the extent that the net fer,<pf*-2arnlngS-------------------12,027,547
9,995.286 6,846,801
earnings are sufficient after paying rixed charges. Interest Daid In full to S I T
TeanilLe? Ii<inSCS.....................
712,809
553,076
562,995
Nov. 1914. No payments in 1915 to Apr. 1919 in c lu s iv e ?V ?1 0 7 . p . 1836
Transportation.. -------16,100,827
13,384 548 10.154,511
General expenses, &c----------------------- 2,508,226
2,169,834 1,724,507
LAND G R A N T .— Land sales year 1916-17. 17 654 acres for 891 i 7 0 0
leaving 841,000 acres unsold Juno 30 1917. V. 107 p 2183 V 1 0 5 n 8 1 7 ’
Net earnings___________
s i 2 1 4 5 6 6 8 $9,373,530 $6,623,292
1207, 1304; V. 85, p. 1205; V. 76, p. 1083; V. 75, p. 183 549- V 81 n'
charges Canadian Nor. Ry . . ' 7 ’690 942 $6,533,062 $6,010,421
Lazard Bros. & Co. announced in London in M ay 1918 that they'were Fixed
Fixed Charges affiliated companies. . . 5,1391690
3,088,595
2,253,154
prepared to purchase at 90% 4% First Mtge. Land Grant bonds o f 1909
Int. on income charge convert, d eb s..
--------- (2^)625,000
duo July 1 1938, original issue $5,000,000 (£1,027 4(WV about 81 8 5 9 7 4 fi Intorest on demand, &c., loans (net). I, 7 7 7 ’ f 73
recently outstanding, the remainder rotired with land sale’s3, V 107 n 2187
First M . Land Grant 4s of 1909. V. 87. p 479? 1477-' V ‘ 88 n ' 1126
Balance, deficit--------------------------- $2,462,137
$248,127 $2,265,283
5% Land Mortgago debentures, V. 100, p. 393; V. 97, p. 1424. P‘ U 26’
„. ^°^e- ~ ^ ccor 6 itik tp an estimate submitted by the company, the fixed
NOTES.— Issues of 1913 to 1918 (mostly paid off refunded &e
to April 1919), showing collateral for each issuo as of June 301917 V V ) 1? charges for year 1916-17 were expected to be $16,539,638. Of this the
Dominion and British Columbia Govts, had undertaken to pay $ 4 514 507
? f i 7 n 4:i an % n P- 520: V ' 98> P’ 1601' V ’ 106’ p - 2223. 2559, 2755;°v:
curtain. agreements. The above agreements to pay interest were only
for two and three years. V. 105, p. 1207, 1304.
'
Maturity.
Short Term Loans Made bu or Throuah__
Amount
June
o f 1913,
$2 190 nn'f)
Amr 12
19 1919
1091 London
Sm-lno Aloan
r.nmlnn
r.c/ l£450,000,
„„„
, A,text
-------- .---$2,120,000
p -S ^ f^ ^ T G R S under Canadian Government ownership: D. B. Hanna,
vv^)i ii M !tchelJ' V, ; £ F*38- c h a r g e of finance and accounts, and E. R.
,of J " 0Pt° ; M ajor Graham A. Bell, Ottawa, Ont.; Robert llob n
B •V- Jones and Sir if. Laporte. Montreal; R . T. Riley,
T J S S ^“ v 'lS T a ^ » 77“4
ri <Uh non r i h n j
tiovt. Authorized
£1,650,000, £100, &c., call 101; int. F. & A
1 250 400
term l^an'inLondon UtlofficialIy sp orted as placing a £ 1 ,0 0 0 ,0 0 0 sh'ortOn Sept. 30 1917 the balance sheet (V. 106 n 2 29 31 <shnwrv?dobt, $285,795,421; equipment trust obligations, $13,526,000; 5% income
charge convertible debenture stock. $25 0 0 0 0 0 0 - dem-inr ami
loans secured by collateral, #5$1.056,961 "d u e to oth™‘ i S t e o n ' S S
struction account secured $30,502,392; current liabilities. $ 1 9 408 496-
Set. Date.
T ...1 9 0 9
H ... 1909
V ...1 9 1 0
A-1.1911
B-t .1911
0-1.1912
D-1.1912
Outst’d'g. Install. Due. Ser. Date. Oulsfd’o.
Install Due.
$150,000 $150,000 S.pt. E-1.1912
$735,000 $105,000 M&S
50.000
50,000 Nov. F-l .1913
210,000 M&S
600.000 300.000 Nov. G-1.1913 1.790.000
810.000
55.000 M&S
740.000 184.000 F&A II-1.1913
430.000
40,000 J&D
375,500
75,000 M&S K-1.1914 1.160.000 105,000
A&O
66.000 110 000 A&0 L - 1.1916
986.000
66.000 F&A
980.000 165,000 A&O
Can. No. Rolling Slock Gold $1,000 6% tierIfs. (Pen xxx) Guar C N Rv
Sorias “ A ” 1918 (int. J. & J.) due Julv l annually 19 1 ^ 2 6 '
Uy’
„ 1928:0$°4000?000 S
J
^
' l R
r
a“ d
1927 a“ d$5 000 000
Ser T ^ . 'i 'l ^ i r ^ i f t
^
lr> 7’ .oo'ooo
Government aid in purchase o f rolling stock' &c.7sce v'. l()7,’ p. 81.
— Po££,lrstl 3.7 ears after road Is opened from Vancouver to
Quebec the Govt, agrees, at the request o f the company, to advance all or
W PwMon o f i n t . on the $45,000,000 4% deb. tSuo auth. In 1914 see
turZ i a,no ,not t0,f,nfprpe the re-payment of same until the principal mafV
8 1u3 4 i^n«V ? 6 0 1 ?
S,1! ? ” 7 provisions
pays, 1 % lnton any
so advanced
!„• 0?8*
P- 1608, 1601.) hi
Similar
were
made8um
respecting
the
& i nl0IJ / uaran,ty °9 o 6 „b° ad8 on the Canadian Northern Ontario Ry
betweon Montreal and Port Arthur, but for 2 years only. V. 105 p. 1304’
, PROPERTY.—Canadian Northern Coal & Ore Dock Co
*• 1700,- - v
104 '»■ > »»■
*• °- Tauel“ - a" °r
APn^oNo,NOf?,T H ?nR»N ONTARIO R Y .— Owns: Montreal to Port
Arthur, 1,010.94 miles; Totonto to Capreol, 276.43 miles; Toronto tc
Ottawa, 250.25 miles; total, 1,537.62 miles. V. 92, p. 162; V. 97, p 10°3
ir ^ n d n o s °rn oro‘ haldlInS plant at Key Harbor, 80 miles from Moose M t.
,, R^pecting outstanding securities see Canadian Northern Rv. above and
V. 87, p. 96; V. 8 8 , p. 1060; V. 93, p. 1190, 1667; V. 92, p. 1635.)
CANADIAN NORTHERN PACIFIC RY.— Yellowhead Pass to Van
couver and Pacific tidewater, about 500 m. Also a 150-mile lino to the oast
coast of Vancouver Isl. and a 145-mlIe line to Vernon, and thence via Long
Lakei to Kelowna and to Okanagan Lake. V. 92, p. 1309; V. 93 n. 526
V. 101 p. 40; V. 103. p. 2078; V. 105, p. 1207. ’ fias Package rights b ^
I m l - n f i f s . |?:i2o;®8-
651’ lsil£: v ' » • »• W . PW T V .
i«
:
CANADIAN NORTHERN QUEBEC RY.— Owns Montreal to Quebec,
and branches in all 405.11 miles. See V. 95. p. 1402; V. 97, p. 1023?
Capital stock, $9,550,000 common and $3,000,000 statutory 5% Income
K S n W n n f t 32 £? 17- *9,550.000. In July 1917 the Can. North.
S y \£
M $2 ,0 0 0 ,0 0 0 o f the company’s stock and also 71.9% stock in
Northern Consol. Holding C o.. Ltd., which owns $5,144,600 of O. N . Quo
V ?9 6
pC. ^ 0 1 ? ^ . 9 7 ,Cp Q95°lIed ' 5 7 ’ 144’ 6 0 0 ’ o r 7 4 -7 % -
V . 9 5 , p . 1471;
tvtS? iC H.R« T IE S-— Regarding 4
% perpetual debenture stock, see Canadian
Northern Uy above and V. 84, p. 968; V. 84, p. 693, 748.
There are $3,505,750 4% bonds of the Great Nor. R y. of Canada, guar
aS/-fSIprll}A and lnt. by Canadian Nor. Ry.: Central Trust Co. of N . Y.'
Office, Toronto, Ont.— (V. 96, p. 201; V. 97, p. 950; V. 107. p. 2187.)
CANADIAN PACIFIC RY.— (See Maps).— Owns a trans-continental
railway from Montreal to the Pacific Ocean, made up as followsDec 31 1 9 1 7 Vancouver
9 onr.
__1 „V / _ 384
Montreal to Vancouver______
2,895
Operated account of owners.
Branches and auxiliaries.......... 5 4 5 1
Also controlled but oper. sep."—
Leased lines................................ 4 .9 3 9 aMlnn. St. P. & Sault Stc. M 4,£‘>8
Used Jointly__________________
9 4 aDuluth South Shore & Atlantic 626
aSee each company’s statement.
Total%In ,,trafflo
rx,,—
:— returns.
, .
■—-13.389
itiioosf OM»iasaiys.
v. lUo.
Steamships, scu
see V.
108, n.
p. 12X().
1280The 5 mile tunnel through the Selkirk M ts. was put in use In Dec 1916.
HISTORY. ETC.— Incorporated Feb. 17 1881 under charter from Do.
minion of Canada, receiving S2o.000,000 In cash as a subsidy; also 25 000,
0 0 0 acres o f land, all to be fit for settlement.
to.vu i.
A ril., 1919.] * a
r
APrlvato
Control.
RAILWAY STOCKS AND BONDS
R A IL R O A D C O M P A N IE S
[For abbreviations, A c ., see notes on first page]
M iles Date
Road Bonds
Par
Value
Amount
Outstanding
Rate
%
When
Payable
Last Dividend
and Maturity
C a n a d ia n N o rth e rn O n ta rio ] Soe Canadian
C a n a d ia n N o rth e rn P a c ific ! N orthern R y .
C a n a d ia n N o rth e rn QuebecJ
above
Canadian P acific— Stock $335,000,000 authorized____
$100 200,000.000 10 In *18 Q— J A pe 1 1919 2 H
Preferred stock limited to 4 % non-oum ulatlve____ r
A & O Apr 1 1919 2 %
4
$100 80,681,9- f
First m ortgage on A lgom a Br g ________________ o * * r
180 1888 £ 100 &o $3,650,000
J
& J July 1 1937
5 g
Oonsol oorpetual debenture s tock ---------------------------1889 £ A t
Soe text
4
J
<& J Irredeemable
N ote Certificates special investment fund red par__
M & S M ar 2 1924-----1914
$20. &c 52.000.
000 a
Vic R oll Stk& RealtyOo eq tr sorT$470,600saPeP.c*
1916
8,930,000
*1.000
4M g J & J July*19-July ’ 28
—
Securities o f Principal Leased, A c ., Lines.
Manitoba S W Ool R y $12,000 per mile Int guar gold
216 1884
A D June 1 1934
*1.000 $2,544,000
Atlantic A N orthwest— 1st mortgage gold g u ..o * & r
346 1887 £100 Ac £1.330,000
A J Jan 1 1937
n
St Lawrence A O ttaw a— first m ortgage gold see text
£200,000
J A D15 See text
68 1870
£50 &o
Ontario A Quebec stock guaranteed in p erpetuity. _
5100 5 2 .000. 000
« r ‘ A D D ec 1918 3 %
Ontario & Quebec deben interest guar in perpetuity
678
A
5
£1 £4,007,381
Irredeem able
Toronto Grey A Bruce 1st M gold interest as rental
4g
A
191 1883
£719,000
July 26 2882
£100
New Brunswick R y 1st M gold int from rental___o*
A
Aug 11934
174 1884
£100
£600,000
Perpetual consol debenture stock, interest guar_.
A
£904,533
Irredeemable
£1
1890
New Brunswick So 1st M _________________________
_ A
Jan 1 1933
8
$500,000
Calgary & E dm onton deb stock gold Interest as rent
2002
4 it
J3 A
1890
£1,121,700
Branch line bonds $1,040,000 (owned b y CanPao)
J
A
52 1905
4
1955
$1,666 $1,040,000
Lindsay B oboayg & Pontypool 1st M $700,000 gold
J A
4 g
July 1 2002
39 1903
500.000
1,000
Quebec Central stock dividend guaranteed.
J A J15 Jan 15 1919 2M
£691,850
5
1st M dob stk Int gu red 110 after 20 yrs.
F A A
4
• 604.837
2d M deb stock prin and int guar______ _
J A J15 Jan 1 1963
3H
338.000
3d M bonds prin and int guaranteed_____
5
J A J15 Jan 1 1903
336.500
Aroos Val (S I) R R 1st M g red 105 int g u a r ______
1909
500 Ac
$250,000
4 H g F A A A ue 1 1929
First A R e f M $1,700,000 call 105 int gu a r.B a .x c*
M & N July 1 1961
32 1911 Soe text
455.832
4X
Minn St P & Sault Ste Marie and Duluth South Shor o & At lantio — See sta teinents of those oo mpanles
Carolina Central— Bonds—See Seaboard Air Line Ry
8 1902
Suro Ciinchf & O hio— Lick Crk & L E 1st M g a ssu ._x
A J Jan 1 1933
195.000
? 8
1st M $15,000,000 red 110....................................F.xo*
A D June 1 1938
956 1908
1,000 13,950.000
Mortgage gold notes $5,000,000 redeem p a r-E a .xc*
A J July 1 1919
256 1909
2.000,000
5g
1,000
Elkhorn 1st M g notes (Call a t p a r ) ___________ N yc 131.81i 1917
6.000.000
A A Jan L 1920
5 g
1,000
Promissory notes for B lack M t R y securities______
See text
450.000
6
1917
Equipm ent gold notes Ser “ B ” due $50,000 s a .U n x
J u ly'1 9-J a n . *20
1910
1,000
100.000
i
do
do Ser' *O' ’ (V .88 ,p.451) due $50,000 s-aNx
A ug, '19-Aug ’22
1912
1,000
350.000
5 ff
do
Ser“ D ’\ V 9 7 ,p 49)due$25.000s-a_Nx , ___ 1913
5g
75.000
1,000
do
July '19-July ’20
do
1914
5 g
O ct. 19-Oet 21
do Sor “ K” due $13,000 s-a................__N
113.000
1 .000
60S 000
do
1917
do Ser " F “ duo S3S.000 s-a __________ Nx
5 g
July 19-Jan ’27
do
1917
5 R
Oct ’ 19-A pr. ’27
672.000
i .666
do Ser “ O " due $42,000 s-a not call CP.v
—
*
Rato advance with special tax in 1918, V . 106, p . 1229.
Full financial resume b y Chairman in M a y 1918 with statement as to
co m p a n y ’s $253,000,000 o f outside assets was in V . 106, p . 1906. Kaslo
& Sfocan R y . lease and bonds, see V . 107, p . 2097.
S T O C K .— The Issue o f preferred must never excood one-h alf the com m on .
C O M M O N D IV S — 1*03. ’04-’06. ’07-’09. ’ 10. *11. *12 to Apr 1 1919.
R R . earnings since 1902) 5 H 6 yrly. 6 yrly. 6>£ 7 7 yrly
% quar.
Land sales, Int., & c____ j - - ----------- 1 yrly. 1
2 H 3 yrlyJ
B O N D S, D E B E N T U R E S T O C K . G U A R A N T E E D B O N D S , & c.—
List o f securities owned D ec. 3 i 1918, V . 108, p . 1282.
In Juno 1917 m ade a loan o f $10,000,000 to the Im perial M unitions
Board to assist in m ooting financial requirements for the purchase o f m uni
tions in Canada during the next year. V . 104, p . 2552.
In 1918 subscribed for $10,000,000 V ictory Loan bonds. V. 106, p . 1241.
Late In 1916 $40,000,000 4 % Consolidated debenture stock over ami
abov e tho $176,284,882 (£35,611,124) then listed on the London Stock E x
change, was Issued and loaned to tho Im perial Treasury for a m aximum
period o f five years, at a prem ium o f
per annum, over tho Interest
ayablo on the stock. Pro vision is m ade in tho agreem ent for tho sale to
io British Treasury o f this stock in annual installm ents, should tho com
pany roquiro m oney for any o f its purposes In G roat Britain, and the
Treasury reserves tho right to purchase all or any o f tho stock during the
five years at 8 0 % ofT a co value. V . 104, p . 1604. 1388: V . 106, p . 1241.
T h o balance sheet o f D ec. 31 1918 still showed $216,284,882 C onsol, deben
ture stock, including $40,000,000 loaned to Imperial G ov t, and $176,284 882 in hands o f public. V. 108, p . 1280.
In Juno 1890 com pany guaranteed tho principal an<l Intorostoi $20,000,000
4 % bonds issued by the p u l. So. Sh. A A tl.: also 4 % int. on Consolidated
bonds o f the M inn . St. P . A S. Ste. M ., and in 1899 interest on tho 2d M .
4s o f tho latter. Owns D u l. So. Sh. & A tl. consols, $15,107,000. etc.
St. Lawrence
Ottawa bonds are endorsed with the Canadian Paolilo’ s noceptanoe of a 999-ycar lease at a rental sufflolent to pay 4 % Int. on bonds,
and the bondholders’ agreement to accept Int. at 4 % (Instead of 0 % ) and to
refrain from demanding principal (due 1910) during lease. V. 90. p. 1361.
The New Brunswick, Railway consolidated debenture stock has interest
guaranteed by Canadian Paclflo; Interest on the 1st m tge. bonds, though
uot guaranteed. Is paid out of rental under 999-year lease of 1890.
The Calgary A Edmonton R y . debenture stock Is guaranteed Interest at
4 % under new lease of 1903. V . 76, p. 435: V. 77, p. 036.
The Lindsay Bobcaygeon & Pontypool R y. bonds are Issued under a 99year lease covering the Interest. V. 77. p. 1225: V . 79. p 2085.
The First A R ef. M . 4 H s o f tho A roostook V y. (electric) R R . are issuablo
at rate o f $25,000 per mile. D enom . £100 or $500. Sink, fund, H o f \%
yearly o f Issued and outstanding bonds from Feb. 1 1916-20, 1% thereafter, ( ’ all. for a. f. at 105. V . 89.
810; V. 90, p. 107; V. 92, n. 259.
Victoria HoHId k Stock & R o a lty 4 M % V .9 9 . p . 1672. 513; V .1 0 0 .p .l 3 9
S
8P E O IA I. IN V E S T M E N T FU N D N O T E C E R T IF IC A T E S .— On
D ec. 8 1913 a trust fund was created known as " T h e Special Investment
Funds” , m ade up o f doferred paym ents on land sales and securities In which
the cash proceeds o f land sales aro invested, to tho aggregate o f $55,000,000;
R oyal Trust C o . o f M ontreal, trustee. Stockholders were offered the
right to subscribe pro rata for $52,000,000 6 % note certificates at 80. The
certificates aro payable at their face value on or beforo M a r. 2 1924. but
m ay bo redeemed by drawings at any tim e. V. 97. p . 1732, 1897: V . 99
p . 544: V . 103, p . 937. Com pare V. 100, p . 1242, 1243.
L A N D S .— Lands; unsold D ec. 31 1918 were 176,270 acres in M anitoba
(b ook value $1,762,700), 1,568,817 acres in Saskatchewan (b ook value
$20,394,621), 2 / 770,018 in Alberta (b ook value $46,970,116) (o f which
430,926, book valuo $16,561,920, are Irrigated), 1,055,891 (book value
$4,934,235) in British Colum bia and 46.933 acres o f coal land in British
C olum bia, & c. T otal o f all lands owned D ec. 31 1918, 6,395,827 acres.
See V. 103, p . 851. T otal sales o f agricultural for cal. year 1918, 842,191
acres for $15,375,996. B ook value o f unsold lands and other inactive
assets D oc. 31 1918, $105,109,626, against $112,373,924 D oc. 31 1917.
SU B . C O S.— D om inion A tlantic R y ., Yarm outh to T ru ro, with branches
tottal 247 m iles, with 45 miles trackage to Halifax is leased for 999 year*
from 1912. “v. ’. ’oi.*p. 728; V
_ x9
— ° ,. -----------p r f ^ 0 A1 4 2 4 ^ “% ‘p^l46T; V ? 9 4 j p A,a .
Alberta R y . A Irrigation C o ., see V. 92. p . 955: V. 93. p. 593; V. 94. n.
1316; V. 95. p . 6 17 . Quebec Central R y ., see V. 93. p. 667. LfOG; V. 94.
p . 1625; V . 96, p . 361. 715.
E A R N IN G S .— 8 m os.. 11918........... Gross, $97,496,201; net, $20,085,627
Jan. 1 to A ug. 31. 11917--------- Gross, 97,149,174; not, 28,574,994
R E P O R T .— Fiscal year now ends D oc. 31. Annual mooting is held at
M ontreal on tho first \Vednesday in M a y . R eport for year 1918 in V . 108
p . 1157, 1266, 1280:
—-------- Year ending---------- 6 m o s . end. Year end.
Dec. 31 *18. D ec. 31 *17. D ec. 31 ’ 16. June 3 0 ’ 16.
M ilos operated------------13,772
13.388
12,989
12,994
(1) Revenues—
$
S
$
$
P a ssen g er......................... 30,837,254 30,238.986 15,088,424 24.960.652
Freight.............. - .............. 110,187.288 103,635.795 51,945,292 89,654 405
M a il, express, A c ---------- 16,513,150 18,514,554 8,784,249 15,136,828
T otal earnings----------157 ,537.698 152,389,335
N ot e a rn in g s ..__________ 34 .502.388 46,546,018
Fixed charges___________ 10,,177,513 10,229,143
Pension fun d________
500,000
500,000
T o special Income acc t_
193,977
1,968,683
C om . d ivs. 7 % p.a.(w ith
3 % p . a . from spoclal
Incom e— b e lo w )-------- 18, ,200,000 18.200,000
Prof. d ivs. (4% P- a . ) . . 3 ,227,276
3,227,277
Balance, surplus..........
itizedfor
foFRASER
r FRASER
Digitized
2,203.662
12.420,916
76,717.965 129.481.885
30,874,766 49.225,920
5,132.551 10,306,196
, 200,000
125,000
1.144,071
1.923.289
9,100,000
1,613,638
18,200,000
3,227,277
13,684,505
15,444,159
(2) Other Income—
Earns, ocean SS., & c . - .
In t., d iv s ., & c .,r o c ’d ._ _
T o t a l .............................
Dividends (3 % p . a . ) . . .
27
Places Where Interest and
Dividends are Payable
Lond A 64 W all St, N Y
C om pany’s Office, Lond
Baring Bros & Co, Lond
C om pany’s Office. Lond
R oyal T r C o , M ontreal
London A 64 W all St N Y
Baring Bros A Co, Lond
Can Pac office, London
Montreal and London
M orton, R ose, London
T oron to and London
London
do
Guaranty T rust C o , N Y
Can Pao Office, London
Can Pao Office. Montroal
Bk o f Montreal. T oronto
N Y and A ugusta, M e
Bankers T rust O o, N Y
Wash (D C ) L oan& Tr Oo
Blair & C o , N ew York
do
do
do
do
Blair A C o, New York
do
do
do
do
do
do
do
do
Com m ercial T r C o . Phlla
Year end.
-----------Year ending----------- 6 mos. end.
Dec. 31 ’ 18. D ec. 31 ’ 17. D ec. 31 T 6. June 30 ’ 16.
$
$
$
$
1,214,869
3,724,720
2,546,249
3,583,292
6,913,882
6,988,580
3,869,103
6,357,663
8,128,751
7,800,000
10,713,300
7,800,000
6,415,352
3,900,000
9,9-10.955
7,800.000
B ala n ce.........................
328,751 2,913,300
2,515,352
2,140,955
T otal special I n c o m e ..- 14,164,501 13,835,751 10,922,451 8.407,099
"•••OFFICERS.— Chairman, L ord Shaughnessy, K . C . V . O .; Pres., E . W .
B eatty; Vice-Presidents, I. G . Ogden, W . R . M acinnes, A nthony D .
M aetier, E . VY. B eatty, K .C ., and Grant Ilall, M ontreal; D . C . Colem an.
W innipeg; See., Ernest Alexander; T reas., II. E . Suckling; C o m p t.. J.
Leslie. Head o ffice, M ontreal.
D IR E C T O R S .— R ichard B . Angus,Sir Ilcrb e rtS . H olt, Chas. R . Hosmer
lio n . Fred. L . B eique, K .C ., L ord Shaughnessy, K .C .V .O ., C o l. Frank
S. M eighen, John K . L . R oss, Edward W . B eatty, K .C ., Sir Vincent
M eredith and Grant H all, M ontreal, C an .; H on. James D unsm uir, V ic
toria, B . C .; W ilm ot D . M atthew s, Sir E dm und B . Osier, T o ro n to ; Sir
T h os. Skinner, L ondon , E ngl; Sir A . M . N anton, W innipeg.— (V . 107,
p . 1836, 1918, 2097; V. 108. p . 1157, 1266, 1280.)
CAPE BRETON CO AL, IRON & R Y . CO .— V. 105, p. 2455.
CAPE G IR ARDEAU NORTHERN R Y .— (V. 105, p. 605.)
★ C A R O L I N A C L I N C H F I E L D & O H I O R Y .— [See M a p .}—o w n s from
Elkhorn C ity. K y ., to Spartanburg. S. O .. 277 m .; branch, Kiser, V a ., to
Laurel J et., V a., 6 m .; trackage. Kiser to St. Paul, V a ., 8 m .; tota l, 291 m.
T he lino form s a low-grade heavily built link in tho through line for
general traffic between the Groat Lakes and the A tlantic seaboard,
serving also extensive coal operations owned b y Clinchfield Coal C or
poration.
Soe V. 101, p. 2070; V. 102. p . 611; V. 91. p. 1448: V. 97
i>. 1661: V . 98, p . 1692; V . 100. p. 900; V . 1 0L p. 75, 365- C onnects at
B ostic, N . O ., with Seaboard Air Line R y ., with which close relations are
maintained and tidewater is reached. V. 88, p . 944; V. 87. p. 670. F i
nanced b y leading N . Y . bankers. See report or expert, V . 102, p . 2076.
S T O C K .— Authorized. $50,000,000. o f which $25,000,000 is 6 7o pref. and
$25,000,000 co m .; outstanding, $25,000,000 com . and $11,500,000 prof.,
o f which $1,500,000 is owned by the Holston C orp ., a subsidiary o f the
railway. A further $2,000,000 pref. is deposited with trustee o f mortgage
gold notes to provide for conversion o f notes. V . 94, p . 1625; V . 103,
p . 1980. D ividends on pref., 3 % somi-annualiy M arch 1913 to Sept. 1914,
Inclusive. N one since to D ec. 1917. In Fob. 1910 arranged with Southern
R y . to send coal to Charleston, S. C ., for export, & c. V . 90, p . 558; V . 95,
p . 359.
BONDS. ETC .— First mtge. of 1908. V. 86, d . 667, 856; V. 88, p. 944.
The $2,000,000 10-year 5 % m tge. gold notes follow in lien the $13,950,000 first 5s o f 1908. T hey are Bubject to call as a whole or m ay be drawn
In part by lo t. V . 89, p. 285. T h e $6,000,000 Elkhorn Extension 5-year
1st M . 6 % notes wore sold to refund $5,500,000 m aturing notes (issued to
construct Dante to Elkhorn) and for other purposes. N o additional m ort
gage is porniittod while thoso notes are outstanding. V . 104, p . 1044; V .
106, p . 2219. Car trusts o f 1917. V. 104. p . 2235. On M a y 18 1917 for
purchaso o f $475,000 First M tge. 5 % gold bonds, $50,000 6 % Convertible
First Incom e debentures and $250,000 6 % Second Incom e debentures o f
B lack M ountain R y . C o. (K o n a , N . C ., to Eskota, 24 m .; in 1918 built
2.30 miles in N or. C aro.)gave $475,000 6 % prom issory notes dated M a y 15
1917, roissuable from tim e to tim e with a final m aturity date not later than
Jan. 1 1920. An option to purchase the entire $50,000 capital stock was
also obtained. V . 106, p . 2219.
“ A D V A N C E S " A N D ’S T A N D A R D R E T U R N ," A c — See page 5.
T he guaranteed securities (see V. 103, p . 1588) include $1,500,000 Holston
Corporation notes (callable at par and convertible $ for $ into Car. C l. A O.
prof, sto ck .— See stock above.
E A R N I N G S — 12 m o s .,11918............G ross, $4,811,231: n et. $1,185,670
Jan. 1 to D oc. 31. 11917............Gross, 4,063,267; not, 1,729,670
R E P O R T .— Year ended D ec. 31 1917. see V . 106, P. 2219.
— Years end. Dec. 31--------end. June 30—
1915.
1917.
1916.
1916.
Coal carried, ton s______
2,517.222
1,550.249
2,138,576
1.962.315
T otal opor. revenue____ $4,285,390
$3,276,487 $3,101,414 $2,260,776
Not after taxes------------- S I,608,203
$904,200
$1,378,928 $1,405,356
lliro o f equipm ent, & c._
023,721
409.822
232,573
446.226
Years
T otal Incom e_________$2.231,924
Int. on funded
"
J d e b t____ $1,122,861
Int. on equip, tru st____
152.984
Miscoll. lut. and ren ts. _
56.284
$1,825,154
$1,073,556
116,338
47,542
$1,815,178
$1,067,986
123,967
62,986
$1,136,773
$785,000
142,671
61,296
Balance, surplus.........
$899,794
$587,719
$ 5 6 0 ,2 3 9 ’
$147,806
M ark W . P otter, Pres., and J. J. Cam pion, V .-P ., 24 Broad S t., N . Y*.;
V .-P . & T reas.. 1. M cQ uilkin, Johnson C ity , Tenn. Fed. M g r., E . H .
C oapm an, W ashington, D . C .— (V . 107, p . 290, 1384.)
★ C A R O L IN A & N O R T H W E S T E R N R Y .— Owns standard-gauge road,
Chester, S. C ., to E dgem ont, N . C ., 1333^ miles. In July 1918 control
urchased b y Southern R y . interests. V. 107. p . 502. T he A bemarle
team N avigation C o . was acquired in Sept. 1918.
Stock auth., $1,000,000 each o f com . and 4 % non-cum . pref.; outstand
ing, $854,250 coin, and $550,000 pref. stock. O f the irst 5s due 1 953,
$1,500,000 were used to retire all underlying bonds and $1,000,000 were
applicable to extensions, new equipm ent, & c. Y ear 1915-16, gross,
$461,626; net, $123,701; other incom e. $248; interest, taxes. A c .. $167,707;
b a l., d e f., $43,844. F or cal. year 1917, gross, $471,228; net, after taxes,
$135,466.
Pres., W . A . Barber; T reas., F . D . W ynn, N . Y .: F ed. M g r., E . H .
C oapm an, W ashington, D . C .— (V . 105, p . 605; V . 107, p . 500, 1009.)
S
I
28
★ Government
Control.
APrlvatc
Control.
RAILWAY STOCKS AND BONDS
R A IL R O A D C O M P A N IE S
[For abbreviations. A c ., see notes on first paceJ
Miles Date
Road Bonds
Par
Value
Amount
Outstanding
i?of«
%
When
Payable
Last Dividend
and Maturity
[Vol . 108.
Dividends are Payable
C a rolin a C lln c h fie ld & O h io (Concluded)—
Bonils Guaranteed. Prin. and In t.. by Endorsem t—
Holston C orp Realty A Coll T r C o convert notes
A A O Apr 1 1920
5 g
$1,000 $1,500,000
1916
call at par convert Into Ity prof_________C e.c*A r*
A J July l 1953
J
1,700.000
5 g
1.000
1903
Carolina & Northwestern— 1st M 52,500,0 0 0 g o l d . . 0*
do
A D June l 1957
J
543.000
6
1.000
1907
Caldwell* Northern 1st M ------------------------------------- *
J A D Jan 1 1962
1,000.000
100 A c
6 g
35 1912
C a rolin a & Y a d k in R lv— 1st M g red 105 s f.E q .x c *
C a rth a g e & A d ir and C a r th a g e W ater & S ack Har — See N Y C & H ud R lver R R.
Reading Terminal, Phlla
A J July 1 1928
J
135,000
4 g
1,000
32 1898
Catasauqua & Fogelsville— First M gold-__PeP.xo•
Com pany’s Office, Phlla
M A N See toxt
5
3,200.000
50
Catawlssa— Pret stook 5 % guar P * R R y (see text)
Reading Term inal, Phlla
A A O Apr 1 1948
4g
2.215,000
1,000
1898
First consol m ortgage 52,215,000 gold ------ PeP.xo*
30 Pine Street New York
589,110 9 % in ’ 18 J A J Jan. 1919
30
34
Cayuga & Susquehanna— Stock 9 % rental D L A W .
Cedar Rapids Iowa Falls & Northwestern— See Ghloa go Ro ok Isla nd & Pao ific R y
N Y JP M organ& C o.& L on
F A A Fob 1 1927
6 g
1,000 15,000.000
1917
C en tra l A rg e n tin e R y— C onv gold notes call (text)U
Central Arkansas & Eastern— See St Louis Sout
5,000,000 5 In 1918 semi-ann Dec. 31 ’ 18 2M New York
C en tra l o f G e o r g ia R y— C om m on stock---------15.000,000 See text somi-ann D oc. 31 ’ 18 3%
Preferred stock 6 % cu m ------------------------------ - Guaranty Trust Co N Y
F A A N ov l 1945
5 g
1,000
7.000.000
312 1895
do
do
M A N N ov 1 1945
1,000 18.498.000
5 g
1.493 1895
Consolidated m ortgage 5 18,500,000’g o ld . _Ba.
do
do
Jan
1
1946
.1
A
J
1,000,000
1,000
6 g
138 1895
Mobile Dlv 1st M (Columbus to Andalusia' g -.Q .x o *
do
do
J A J Jan 1 1946
840.000
5 g
1,000
102 1895
Maoon & North Dlv 1st M 5840,000 gold._M Ba.xo*
do
do
J
A D Deo l 1945
5 g
1,000
462.000
77 1901
Ocon Dlv 1st M Brewton to Dover 56.000 p m_ O.xo*
Savannah, Ga
168.000
J A D June l 1926
3 g
500
21 1896
Guaranty Trust Co. N T
A J Jan 1 1947
5 our i
413,000
1,000
65 1897
do
do
J A D Juue 1 1951
4g
1,900
2,057.000
164 1901
Union Trust Co. New Yk
J A J July 1 1947
343.000
5 g
1,000
138 1897
F A A A ug. 19-A uk '25 Guaranty Trust Co, N Y
210.000
4g
1,000
12 1905
do
do
M A S Sept 1 9-S ep t’25
210,000
1.000
48
24 1905
U S M tge & T r C o. N Y
A A O Oct l 1962
122,000
1912 1,000 Ac
5 g
Guar Tr Co.N Y or S avao
Jot 1 N ov 1 1945
5
1,000
136,600
1895
do
do
Jot 1 Nov 1 1945
l.OOC
104.350
5
1895
\ gold If
2d
do
do
do
6
Jot 1 Nov l 1945
47.500
1.000
1895
J non-cun
do
3d
Guaranty Trust Co. N Y
U A N M ay 1 1937
5 z
1887
1,000
4,840,000
J A J July 19-Jan ’26 Comm ercial T r C o, Phlla
1,000
700,000
1916
4H
—
Equip trust series L $50,000 sem i-annually---------Guaranteed, A c .—
Guaranty Trust Co. N Y
J A J July 1 1920
1,000
1,000,000
5 g
1890
Ooean SS Co Qrst mortgage gold guaranteed-Ce.zc
.1 A J Jan 1919 2 ><>% Savannah, Ga
1,022,906
10(
5
55
Augusta & Savannah stock (no bonded d e b t)-------J A J Jan 1919 2 ^ % Savannah and Macon
5
5 ,1 9 1 .10C
10<
333
Southwestern Railroad stock (no bonded debt) —
.1 A J Jan 1919 2 H % Savannah. Ga
10(
436.40C
6
Chattahoochee & Gulf stock -------------------------- - - - Citizens'Bk.Savannah.Ga
A J July 2 1930
J
5 g
l.OOt
207.00C
91 1900
Central Trust C o. N Y
l.OOt
1.500.000
4 K M A N May 1 1953
117 1903
A C A R O L IN A & Y A D K IN R IV E R R R .— Owns n ig h Point via Thoraasvllle and Denton to High R ock, N . C ., 35 miles. Freight Is switched elec
trically to the main line.
,,
_
,
_
w _T
Coupons duo Juno 1 1917 remain unpaid. On Juno 8 191/ W . N .
Color & C o. o f N . Y ., who had financed the enterprise and then owned
some $250,000 bonds and $1,800,000 stock, made an assignment to Arthur
D . Hammond o f B rooklyn.
.
*
„
Bondholders’ com m ittee: Alvin W . Krech, Chairman; Samuel Arm strong.
Sec.; Equitable Trust C o ., depositary. Reorg. p roposod. It Is hoped
without foreclosure. V. 104, p. 2451: V. 105, p. 2542.
... ...
Stock authorized, com m on. $3,000,000; pref., 5 % non-cura., $1,000.000,
outstanding, com m on, $1,540,000, and pref , $300,000; par $100
Loans
and bills payable, D ec 31 1916, $191,976
E A R N IN G S .— For year ending D ec. 31 1916, gross, $107,869; net, $24,
031; other Income. $157: rentals, taxes, A c .. $25,037; int. on bonds, $63,790:
bal., d ef.. $64,639. Pres., Alvin W . Krech, N . Y .: Sec. & Treas.. L. II.
Hole Jr. Office. High Point. N . C . N . Y . office, 43 Cedar S t.. N . Y .—
(V . 104. p. 2451: V. 105. p. 25-12.)
★ CATASAU QU A & FOQELSV1LLE R R .— Catasauqua. P a., to Bitten-
1911-12! 1 0% ; 1912-13. 1 0 % ; 1913-14, 1 0% ; 1914-15, 2 0 % ; 1915-16, 1 5 % .
Year 1915-16, gross, $252,299; net, $135,110; other Income, $23,805; Int
taxes, A c., $14,102; a d d ’ns and betterm ents, $5,577; balance, $139,236,
dividends (1 5 % ), $04,035. For cal. year 1917, gross, $325,181; net, after
taxes, $125,768.— (V . 81, p. 149.)
★ C ATAW ISSA R R .— Owns from Tamanend, Pa., to Newberry Jet.. P a..
104.0.5 miles: second track, 40-07 miles; total, 222.20 miles. Re-leased
Deo. 1 1896 for 999 years to Philadelphia & Reading Railway. Rental,
Int. on bonds. 5% dlvs. on pref. stook, all taxes and $8,000 for org. exp.
See also V. 63, p. 969. 1116. In N ov. 1917 paid the dividend of 2)4 %
on tho pref. stocks less 5 cents per sharo for war income tax; M a y 1918 paid
2 >4 % on pref. stock. In N ov. 1918 the dividend o f 2 ^ % on the preferred
stock was paid less 12 cents per share for war income tax.
O f the pret.
stocks, $1,000,000 is 2d pref. C om m on. $1,159,500; par, $o0. Reading
C o. owns $732,800 com .— (V . 96, p . 1421.)
A C A T S K I I -L M O U N TAIN R R . C O R P .— Narrow gauge road from C atsklll to Palenville, N . Y ., 15.75 miles; from Otis Jet. to Otis Summit (cable
road). 1 .OS miles; from Otis Summit to Tannersvllle. 5.25 miles, gauge 3 ft.
In April 1919 operation had been discontinued.
★ C A Y U U A & SUSQUEHANNA R R .— Owns from Susquehanna River tu
Ithaca, N. Y ., 34 m. Leased during length of charter and renewals thereof
to the Delaware TAok. A Western at a rental of *54.600 a year. Dlvs. paid
are 9 % y ly ., with an occasional extra: 1904 9 H % was paid. V . 106, p. 49< .
CENTRAL
A R G E N T IN E
R Y .,
L T D .— R O A D — Extends from
Buenos Ayres, a city with a population o f about 1,800,000. through
the city o f Rosario, to C ordoba, Santa Fe and Tucuman. Comprises 3.305
miles o f track (all except 202 miles Ls owned In fee; and partly doublo-tracked).
Increase In rates 2 2 % , from N ov . 20 1917. V . 105, p. 1998.
O R G A N IZ A T IO N .— Originally organized In 1863. Operates under a
perpetual concession and an amended law con tract running until 1947,
entitling It, without restriction, to charge such rates, pavablo In gold equiva
lent, as will net 6 .80% on the capital investment recognized by the Argen
tine Governm ent, now amounting to over $250,000,000. In lieu o f taxes.
3% of the npt receipts go to the Governm ent.
Outstanding Capitalization (at $4 86 to £) June 30 1918
_
Cont.Deb.3V$%stk.(150m )
£95.36.314/5% non-cura. p ref.stk . £9,69;>,718
4 >5 % W est. A n n .(202 m .) 2.017.500 Consol, ordinary s t o c k .. 28,186,950
811,800
4% D eb. stk. (gen’ I c h g .). 13.462.232 Deferred stock..................
10-year 6 % notes (n e w )._ 3,092,7781
In A ug. 1917 £500,000 6 % 5-yr. notes were underwritten and issued.
The C onsol. Ordinary stock is ontitled to non-cuni. 5% dividends before
the doferred stock receives any dividends and shares equally with the de
ferred stock in the distribution o f earnings after tho latter has received 5 % .
Offered in M arch 1917. V . 104, p. 256, 1044, 1144; V . 105, p. 1998.
C O N V E R T IB L E N O T E S .— These have Interest payable without de
duction for any taxes imposed by Great Britain or the Argentine Republic.
D enom . $1,000. Prin. and int. payable in N .Y . In U. S. gold at office of
J. P. M organ & C o .; In London at London County A Westminster Bank at
$4 85 per £1 sterling. Tho entiro issue, but no part, may be redeemed
at 102 and int. on and after Feb. 1 1922 upon six months notice.
They are convertible at option o f holder any time after Jan. 31 1918
prior to redem ption into ordinary shares o f £10 each, at par, $4 85 per £1.
E A R N IN G S .— For fiscal year ending Juno 30 1918.
1914-15.
June 30 Years—
1917-18.
1916-17.
1915-16.
£.>,737,000 £5,755,000
Gross earnings_________£6,184,089 £5,246,000
N et incom o______________ £1,860,996 £1,882,000 £2,260,000 £2,577,000
726.000
800,000
1,078,000
Interest, A o_____ , ______
833,044
136.000
436.000
436,000
Pref. stock (\ X
A % ) -------436,000
Ordinary s to c k ________ (2% )564,047 (1)282,000 (4)1,128,000 (5)1,409,000
Balance, sur. or d e f .. s u r .£27,905 su r.£ 8 6 ,0 00 d ef.£104,000 sur.£ 6,000
Chairman, Sir Joseph W . T od d , B art.— (V . 105. p. 2542.)
★ C E N T R A L O F G E O R G IA R R .— Operated Jan. 1 1918, 1.919 miles:
18
M iles. Chtckdmauga to Durham .........
Lines owned in fee—
Savannah to T y b ce ------------------18
Savannah to A tlanta__________ 295 Columbus to Andalusia------------ 138
Gordon to C ovin gton --------------82 Macon Junction to Athens------ 102
Columbus to Birmingham, A la . 156 Brewton to D over--------------------77
Columbus to Am erlcus-------------62 Barnesvllle to Thom aston-------lb
M ontgom ery to Eufaula, A la ..
80 Lyerly Branch-------------------------4
Columbus to Greenville. G a-----49 Upper Cahaba Branch-------------12
Opelika to R oan oke___________
36 Greenville to R aym ond ----------24
Eufaula to Ozark_____________
60
Total o w n e d ________________ 1.427
Griffin, Ga., to Chat., T en n ..A o. 198
Lines leased (see these cos.) Miles
Southwestern R R .—
Macon to Eufaula_________
Fort Valley to Perry______
Fort Valley to C olu m b u s..
Smlthvllle to Colum bia___
Cuthbcrt to Fort G aines..
Augusta & Savannah R R .—
Mlllen to A ugusta--------------
Chattahoochee * Gulf R R .—
Columbia to Lockhart______
T r a c k a g e ______________________
91
14
T otal oper. Jan. 1 1918--------1,919
Also owns M ed run to Lyons. 58 m
(leased to Seaboard Air Line).
Ocean S3. Co., est. equlv. o f ------ 300
Controls W rlghtsvllle A Tennllle and
W adley Southern Rv
O R G A N IZA T IO N — Succeeded N ov. 1 1895 the Central R R A Banking
C o. o f Georgia, foreclosed. V. 60, p. 1008; V . 61, P- 68
Ocean S3. C o .,
V . 102, p. 344. New rolling stock in 1917, V . 105, p. 1418.
.
In June 1909 the *5,000,000 stook was acquired by the Illinois Centrral
but the road is operated independently. V 88 . p 1559: V 84. p. Io50;
V. 85. p. 1082. 1268; V. 86 , p. 667. On Juno 3 1912 $15,000,000 pref.
stock was Issued to retire the Income bonds acquired by III. C ent. ($14,461 ,
000). remaining $539,000 as presented; V. 94. p 1316. 1505; V 95, p. 11037.
* Com pensation under Federal contract $3,444,158. V. 108, p. 1060.
T he War Finance C orporation to M a r. 1919 advanced the com pany
$2,021,000. V. 108, p. 116. 972, 1164.
D IV ID E N D S .— On com m on stock, 1913 to D ec. 31 1918, 5 % per ann.
Pref., 6 % p. a. sinco Juno 1913. V. 106, p . 2222.
B ON DS.— The first mortgage of 1895 (described In V . 63, p. 1160) la a
first lien on the main line from Atlanta to Savannah. Including the Mllledgeville branoh (312 m. In a ll). all equipment and appurtenances, and tho equity
in *1.995.000 stook of Ocean SS. Co. V . 84. p. 529. 605: V . 87. p . 5o0.
Application for listing llrsts and consols In V. 63, p. 1160.
The Consol, m tge.(see abstract V. 61, p. 873; also V . 63. p. 1160; V . 83. p
1347) Is a first lien upon 600 m. (Including former M ont. & Eufaula R R .
Sav. & W estern and Sav. & A tl.); also on the leases of the South Western
and Augusta & Savannah roads and tho stook of New England & Savannah
steamship C o., and a second lien upon the main line, its equipment. A o.. and
also on the Macon & Northern, Mobile & Girard, and other divisions. I»
also covers all leaseholds, securities, Ao. V . 85, p. 605: V . 89, p. 777.
Collateral lrust mortgage abstract was In V . 45. p. 242.
Tho Chattanooga Division mortgage covers the former Chattanooga
Rom e & Southern R R .. Carrollton. Ga.. to Chattanooga. T e n n „ 138
miles, and Durham to Chlokamauga, Ga.. 17 miles, with branohes. In all
164 miles, subject to old 5s, for which a like am ount of bonds Is reserved.
V . 72. p. 1134: V . 78. p. 1446.
J v
, ,
Upper Cahaba Branch bonds are seoured by coal lands In Northern A la
bama. also bv road Henrv Ellen to Margaret. Ala. V . 81. p. 920. 1099.
O f tho General and Refunding bonds o f 1913 ($80,000,000 auth. issue),
with int. not to oxcecd 5 % , on Jan. 1 1918 $ 12 2 .000,had been sold. $6,515.
000 were in treasury unpledged, $1,324,000 wero in hands o f trustee for
authentication on demand, abou t $31,263,000 rosorveil to retire old bonds,
$ for $, and tho remaining $40,626,000 bonds for acquisitions, extensions,
&c. V. 98, p. 452. Scrios A bonds aro callable as a whole only at 110.
V . 95, p. 110, 889, 1037. Incom o bonds (interest regularly paid)— see
preferred stock a bovo.
.
L A T E S T E A R N IN G S .— (1918 .G ross, $20,647,383; net (bof. $4,685,391
12 m o s „ Jan. 1 to D ec. 3 1 11917 .G ross. 16,024,537; taxes), 4,978,688
R E P O R T .— For calendar year 1917, in V. 106, p. 2222:
Calendar Years—*
1917*
1916*
191o*
Operating revenues__________________ $16,02-1,537 $13,725,144 $12,254,153
9,281.046
8.65-1.468
Operating expenses__________________ 11,045,849
N et operating revenues------ " --------- $4,978,688 $4,44-1,098 $3,599,685
Incom o (after taxes, & c .)--------------------$4,091,536 $3,723,686 $2,961,835
1,424,457
1,623,303
Other incom e________________________
1,270,706
T otal incom e_______________________ $5,362,242 $5,346,989 S-l ,386,292
Interest on bonds, A c ---------------------------$1,997,411 $2,029,949 $2,035,910
$656,252
$667,389
Rentals and miscellaneous--------------$724,203
900.000
900.000
Preferred dividends ( 6 % ) ----------------900,000
250.000
250.000 ___________
C om m on dividends ( 5 % ) ----------------250,000 ____________
Balance, surplus.................................... $1,490,628 $1,499,651
$544,124
O F F IC E R S .— Chairman, Charles A . P eabody, N . Y . C ity; Pres.,
Alexander R. Lawton; Sec. & T reas., Charles F. Groves; Federal M anager,
W . A . Winburn: Federal T reas., W alter C . Askew, Savannah, G a. General
office, Savannah, G a.— (V . 108, p . 578, 972, 1060, 1164.)
★ C E N T R A L IN D IA N A R Y .— M uncio to Brazil, In d ., 127 miles, o f which
u) in .tra ck a g e . V. 76, p. 653. Controlled by C lov. Oin. C hic. & St. Louis
and Penn. R R . Interests. Bonds, guaranteed by C lov. C in. C hic. & St. L.
(which owns $60,000 s to c k ), are limited to $20,000 per m iio.
I he l enn. C o.
on D ec. 31 1916 owned $750,000 o f tho $1,500,000 1st M . 4s. V . 7< ,_ p .
T he Penn. C o.
517, 2279; V . 78, p. 1906. 1961. Stock auth.. $.1203)00; ,pv
■ACFNTPAL NFVV ENGLAND R Y .— Owns from Campbell Hall, crossing
Uie Hudson River at Poughkeepsie by Its own bridge, to Sllvernalls 34 m
Poughkeepsie, N. Y .. to Hopewell. 12 m .; Dutchess Jot., N. Y .. to State
line. 53 m .; Poughkeepsie. N. Y .. to Boston Corners, 34 m .; total owned,
138 m : and leases and controls H artford & Conn. Western R B .. Hartford
to Rhlnecllff, 110 in., and branches 17 m .; trackage, Hopewell Jet. to Dan
bury, & c ., 35.11 m .; total, 301 miles. V. 89, p . 918; V. 9,>, p. 418.
T he Federal contract executed in Feb. 1919 grants the com pany an annual
com pensation o f $1,468,123: non-operating incom e for year 1918 is S68.680:
total, $1,526,808; interest charges, rentals, A c., amount to $97o, 196, leav
ing a net o f $551,012, or equal to 8 7-10% on the preferred and 4 7-10%
on tho com m on. T ho average rate o f dividend during the three years
ended June 30 1917 was 6 % on the preferred and 2 % on the com m on.
V . 108, p. 783.
API!., 1919.J * g S " ‘
R A IL R O A D C O M P A N IE S
[For abbreviations, & c., see notes on first page.]
Cent New England— Dutch Co R R 1st M g guar Ba.xo*
C N E 1st M$25,000.000g gu red l0 5b eg’21-F xo* Ar*
Central Ohio— See Baltimore A Ohio
Central Ontario R y— See Canada Northern R y —
Central Pacific— 1st ret M g gu p A I end-Ce.x~
3 44s $25,000,000 gold guar p A 1 en d__ U s.xo’ Ar
Luoin out-oil 1st M $10,000,000 gu (text) .(l.x o * Ar
Bonds 250.000,000 francs guaranteed red p a r..U s :
do
do
U S g o ld __________________
50-year m ortgage bonds ($78,000 5s duo 1939)____
Nevada & Cal, Ac, 1st M assum ed__________
Oregon Eastern first mtge assumed....... ..........
Other bonds— see text
Central RR of N J — Stock ($30,000,000 a u th o riz e d )..
Miles
Date
Road Bonds
12
141
Par
Value
Amount
Outstanding
1890
S 1,000
1911 1,000 Ac
1.349 1899
1,349 1899
103
—
500 Ao
500 Ao
1904 1,000
1911
500 fr
479
86
1911
1912
O R G A N IZ A T IO N .— On D ec.3 1 1917 the N . Y . N. H . A H . R R . owned
$3,737,083 pref. and 54.795,054 com . stock. V . 85, p. 404, 858; V . 89,
p .469; V . 90. p. 1238. 1296, 1489: V . 91, p. 153, 396, 870.
S T O C K .— C om m on. $4,800,000; p ref., $3,750,000; par, $100. A fter
4 % on the p ref., both classes participate equally.
Dividend on non-cum . pref., 4 % , paid In 1913-14; In 1914-15. 6 % on
pref. and about 2 % on com m on. Cal. year 1916. 7 H % on pref. and
3 H % on com m on; 1917, 534% pref. and 134% on com m on.
BON DS.— The 1st guaranteed 4s of 1911 ($25,000,000 auth. Issue) are a
first lien on 141 miles o f road and the Poughkeepsie Bridge; those unsold
(except $287,000 reserved for Dutchess C o. bonds) are set aside for not
exceeding 75% o f the cost o f extensions, additions and improvem ents
V. 98. p. 1315. V . 92. p. 1374, 1635; V. 94. p. 206; V . 96, p. 134.
Tho outstanding $18,000 Gen. M tge. incom e bonds,due Feb. 1 1949 on
which 5% p. a. Is regularly paid each O ct. 1. are covered by a special de
posit. V . 103. p . 1031; V . 105, p. 997; V . 107, p . 1099.
P
L A T E S T E A R N IN G S .— J1918— Gross, $6,063,156; net (be- $061,269
12 m os., Jan. 1 to D ec. 3 1 .U 9 1 7 --.G r o s s , 5,477,288; fore tax.) l,85s!800
E A R N IN G S .— For 12 months ending D ec. 31 (V . 106, p. 1676):
Gross.
N et.
Oth. Inc. Deduc’ns.
Dies.
Sur or Def.
1 9 1 7 .--$ 5,47 7 ,2 8 8 $1,637,893 $52,673 $1,452,756 $256 398 d of $18 587
1 9 1 6 - .. 5,208,198 2,076,232 197,066 1,358:648 47(b684 s m l l l S
O F F IC E R S .— E . G . Buckland. N ow H aven, Pres.; A . S. M a v Treas •
Arthur K. Clark, Soc.; E . J . Pearson, Federal Director. (V . 108, p. 267, 783*)
★ CENTRAL PACIFIC R Y . <Gee M ap o f Southern Pacific.)
Lines Owned—
M iles.
"
Uraze,n - N e v ., to Keeler, C a l ..288.65
Oakland, A c ., local lines---------- 18.84 W eed, C al., to ICIrk, Ore____ 127.38
Oakland pier to Elvas, C al___ 133.46 N atron to Oakrldge, Ore_______34.39
Sacramento, C al., to Cecil
M oja ve to Ow enyo. C al_____ 142.90
J et., near Ordon, U tah_____ 692.20 Fernley, N ev ., to W estw ood,
Niles to San Jose, C al-------------- 17.58
Niles Jet. to R edw ood J et---------16.24 B ra n ch es_______________
114.64
Gmbria Jet., N ev ., to near
Ogden, U tah_______________ 141.64 Leased___________________ __ 17.44
Lathrop to Goshen Jet., C al-.1 4 6 .5 7 Less leased to So. P ac. R R l ” 57:95
_______
Rosoviflo, C al., to Oregon
State Line--------------------------- 296.58
T o t. oper. D ec. 31 1 9 1 7 ..2 ,267.06
O R G A N IZ A T IO N .— Incorp. In Utah In July ’ 99, per plan In V 68 n 378
In 1914 the Governm ent brought suit to separate the com pany from the
Southern Pacific C o ., but was beaten in lower C ourt in lo 17^ v in i
p . 1044.
iu l’
S T O C K .— The Southern Pacific C o. owned the entire $67,275,500 com
mon and $17,400,000 pref. I f ?
j 4 % cum . and participates equally with
com m on after 4 % on each. A ll pledged for Its coll, trust 4s. V 96 n 119
L A T E D1VS. (Fiscal Y ea rs).'08. '09. '10. ’ l l . '12. '13. ! 14 '15 '16 >17
Preferred, % ............................. 6
6
6 10
6
6 26.6 4
' 4
6
C om m on. % ............................. 6
6
6 10
6
6 26.6 I X I X
6
BON DS.— First Refunding mtge. gold 4s, 5100.000 000
V 69 n sng
and V. 70. p. 739: V. 78. p. 228: V . 87. p! 2 2 5 ,2 8 5. 479: V 88 n P«2
Thirty-year (fold 3 Hs, 525,000,000, scoured by a second lien upon an the
properties covered by; the 1st Itef. mtge. and also by deposit with the trus
tees, as acquired. Ol all securities and moneys held In any sinking fund of the
Central Pacific R y .. consisting D oc. 31 1917 Sf $4,585 779 In P u r it i e s ahd
$124 cash, and by a trust deed upon all the landsCovered b f m t g dated
Oct. 1 1870. See M ortgage Abstract, V. 69 p 858 also see n 8 5 1
From
the proceeds o f these sinking funds and landsales cancellations 'of' bonds are
made from time to time; to D oc. 31 1917 $15,932,500 had been canceled
or purchased for cancelation, reducing those outstanding to $8,240,325.
Lucln C u t-off 4s are call, at 10744. V .7 9 . p. 1641; guar? V .8 0 n 162
In Feb. 1911 the sale was arranged In France of 250,000,000 francs 4 %
00 ’ trust, bonds, guaranteed by the Southern Pacific Co (the latter
pledging as security for the guaranty part o f its Interest In affiliated cos..
101 p 2146 la c I f
U U -)’ V ' 92 - P- S93- 794; V. 94, p. 130, 1762. V.
i'j10.*9'®,^0>000 outstanding Nevada A California 6% bonds (515,000,000
auth Issue) were a ss u m e d o n p u rcia s e Feb. 29 1912; also $3,000,000 Cen
* N °rthern R R y $2,500,000 Sacraraonto Sou. U R . ana Jo.UUU,000 Oregon Eastern Rv V 94 d 982 1 1 1 8
All o f tko fiv e foregoing Issues arelow ned by So. P a c . C o Sa are also
$10,139,350 5-yoar 6% extensions purchase notes.
LAN D G R A N T .— Total land grant was about 12.000,000 acres, of whloh
about 7.076.215 acres unsold D ec. 31 1917. Sales in 1917, 79,388 acres
averago price per aero, $527. Land contracts D ec. 31 1917, $1,705,132. ’
. R E P O R T .— For cal year 1917. total operating rovonue was $47,352,799
uR,<:ra,t ,ng lrl,c°™!3|
*559?) •^10,505,730J non-operating incom e was
1*1
r l r0
1
<*815,990) and other deductions aggregated
$1,09.>,115; rental payable to com pany b y Southern Pacific C o ., $14,471 219; balance not profit to Southern Pacific C o ., $1,148,228.
t>
lne ° mo from lease o f road In 1917 plus other incomo gavo tho Central
l aclfic R y . C o. S 1■)'.''35,943, from which It paid tax accruals $306,671;
interest on funded debt, $8,406,919; other charges, $134,828; sinking fund
,'im nthAi* rnsnrvivj. 8444 914.*
__
non ron.
1 u
★ CENTRAL R R. OF NEW JE R S E Y .— (See M ap Reading System .)— Oper
ates from Jersey City, opposite New York City, westerly to W llkes-Barrt
and Soranton, Pa., and the neighboring anthracite coal Helds; also southerly
to tho seashore resorts of New Jersey and to the Delaware R iver.
Owned in Fee (V . 106, p. 1787) M iles.
Controlled by Agreement, &c.
Jersey City to Phllllpsburg.............. 72
(m ostly held under 999-year
Sundry b ra n oh es.-........................... 308
leases):
Allentown Term . R R . (op . join tly) 4
Controlled by Stock Owned—
New York A Long Branoh R R .,
Easton A Western R R __________ 4
Perth A m b oy to Bay Ilead . 38
Rate
%
When
Payable
Last Dividend
and Maturity
Places Where Interest an)
Dividends are Payable
$287,000 4 X (6) g J
13.427.000
4 g
J
A
A
D June 1 1940
J Jan 1 1961
Fid T C o, Phlla
Lincoln Nat B k. N Y
98.849.000
8.240.325
9.640.000
23,535,618
24,726,931
103,000
8,500,1)00
5.000.000
A
A
A
A
A
A
A
A
A
D
O
S
S
O
N
J
165 B roadw ay,N ew York
do
do
do
do
London, Paris, Relg, Ac
165 B roadw ay, N Y
do
do
Owned by South Pac Os
do
do
___
100 27.436.800
All
1887
1,0001 bl3.924.000
do
do
registered_________________ All
1887 500 A c /
Equip tr Ser G $2,400,000 M a y 2 '18 (qll in troa s). .
—
1916
1,000 N one Apr ’ 1
L A W B Oon M $20,000,000serial g gu’ar.P eP .xxo*
. . . . 1910
1.000 a 8 .186,000
Am Dock & Imp Co 1st M guar redeem at llO x xxo*
1881
1,000
4.987.000
N Y A L Br Gen M g Int gu Jtly ($192,000 5s).C ex xo‘
38 1891
1,000
2,500.000
Lelilgh & Flud R IvG en u gold guar Jolntly.C c.xxo*
1890
1.000
1,062,000
Central RR of South Carolina— First mtge g o ld ____xo
40 1881
300.000
Central Ry of Canada— 1st M £2,600,000 call 105____
—
£ A $ See Text
Central Counties 1st M (V 90. u 1109)_____________
37 1909
£100
£97.500
Cent Ry of So Car— First M $150,000 g gu r e d ___CPI
7 1906
$500
150,000
Central Terminal R R — See Minneapolis St Paul A Saul t Ste Marie Ry
Central Vermont— Stock $ 3,000.000........... ..............._
100
3.000,000
First M $12,000,000 gold trafllo guar_____ A B.xoAr
All
1899
500 A c 12,000,000
Eq tr notes due $49,000 eaoh F A A (V 94, p 350)x
1912
l .000
291,000
Montreal A Province Line R y 1st M guar p A I
c
40.6 1900
100 Ao
200.000
O V Trans eq bds g gu $12 M or $13 M due s-a .B a .x
1909
1,000
73,000
do
do Ser B due $50,000 seml-an guar. Ba.x
1912
1.000
350,000
b Additional $1,167,000 in treasury and $4,909,000 uniss uod De c 31 1917
a Additional $6,310,000 purchased and held in treas m y o f L. A W . Coal C o. Dec. 31
APrivate
Control.
RAILWAY STOCKS AND BONDS
4 g
F
3X g J
4K A
4
M
4
M
5 A 6 A
a
M
0
J
Aug 11949
Aug 11929
Oot 1 1954
Moh 1 194R
M ch 1 1946
1936 A 1939
N ov l 1941
Jan 1 1942
12
/
1
9
In ’ 18 Q— F M a y 1 ’ 19 2 %
5 g
J A J July 1 1987
5 g
Q— J July 1 1987
4X
M A N M ay 1 1926
4 g
J A D J u n e l 1920-’50
5
J A .1 July 1 1921
4 A 5 g M A S Sept 1 1941
5 g
J A J July 1 1920
6 g
J A J July 1 1921
5
Q— J Jan 1 1964
4
MAS 14 1949
6 g
J A J Jan 1 1920
$2,185.
4 g
5
4 g
5 g
5 g
100 held
Q— F
F A A
A A O
M A N15
M A N
by Grand Trun
May 1 1920
Aug ’ 19-F eb ’22
Oct 1 1950
M a y '1 9 -M a y ’21
M a y ’ 19-M ay’22
Office 143 Liberty St,NS
Liberty Nat Bank, N Y
Check from Treas. Office
Liberty N at B ank. N Y
do
do
do
do
Liberty N at Bank, N Y
Irving Nat E x B k, N Y
Bankers Trust Co, N Y
Colonial Trust Co. Plttsb
k R y o f Canada
American Trust C o , B ost
Blair A Co, New York
Amer L A Tr Co, Boston
Bankers Trust Co, N Y
do
do
1918.
M itei Other lines_______________________ 12
5
Dover A R ockaw ay R R ______
Trackage—
Ogden Mine R R •_______________ 10 Delaware & H udson___________
12
Nesquehonlng Valley •___________ 17 Other trackage__________________ 34
Lehigh A Susquehanna, Phllllps
burg to Union Jet., A o________ 164
T otal operated D ec. 1917_____ 684
Wilkes-Barre
A Soranton •____
4.
_
___
* See this com pany.
There are 262 miles of 2d, 41 miles of 3d and 30 miles of 4 tracks.
n iS T O R Y .— Reorg. In 1887 without foreclosure; V. 44, p. 714 716- V.
105, p. 1707. Concerning coal properties, see Lehigh & Wilkes-Barre Coal
C o. and I.eblgh Coal A Navigation in 'M iscellaneous.'' In 1901 Reading C o.
acquired control, owning $14,500,000 stock. V. 72. p. 86 , 136. 241, 391.
721. In Sept. 1913 tho G ov t, brought suit alleging violation o f both the
Sherman law and tho com m odities clause o f the Inter-State com m erce law.
In O ct. 191o final decree o f U. S. D ist. C ourt dismissing said suit, ordored
that this com pany must dispose o f its Interest In the Lehigh A Wilkes-Barre
Coal C o. within 90 days. Both parties have appealed to the U. S. Supreme
C ourt. V. 101. D. 1464. 1807. Full Crow Law. V. 105, p. 1897, 2093.
, -® ® N E R A L F IN A N C E S ,— The com pany had up to and including M ar. 7
1919 recetved from the G overnm ent installments aggregating $2,256,000
on account o f 14 m onths’ com pensation.
“ A D V A N C E S " A N D “ S T A N D A R D R E T U R N .” A c.— See page 5.
D IV S .— '91. '92 to '94. ’95. '96. '9 7 . '98. ’ 99. ’00. ’01. 1902to M a ^ ’ 19
R e gu la r.. 644 7 y rly 544 5 44£ 4
4
5
5
8 yearly ( Q - F ) .
Special-------------------------------------------D ec. 1899 to Juno 1918. 4 yearly (J A D )
Special seml-ann. dlvs. o f 2 % each (making total annual 12% ) are paid
out o f Lch. A W . B . C oal C o . dlvs. o f $1,103,650 per annum received,
Juno 1909 to D ec. 1918. incl.
B O N D S .— For General Mortgage abstract, sec V. 45, p. 402.
Tho $20,000,000 ($14,496,000 issued) Leh. A W ilkos Barre consol, seria
4s, guar. p. A i., mature $2,500,000 every 5 years beginning June 1 1915.
E A R N IN G S .— 12 m os., (1918............Gross, $44,790,671; net, $8,421,400
Jan. 1 to D ec. 31.
(1 9 1 7 -..........Gross, 37,096,739; net, 10,683,887
R E P O R T .— Fiscal year ends D ec. 31. For 1917, V . 106, p . 1787,2010.
Earnings from —
1917.
1916.
1915.
M e r c h a n d i s e - ........................................ $17,907,187 $16,930,604 $14,341,790
Anthracite coal---------------9,195.132
8,511,500
8,635,635
Passengers...................
6,663,309
6,134,814
5,567 820
M ail, express, A c .....................
3,331.111
2,795,430 2,023,660
T o ta l. ................................................... $37,096,739 $34,372,348 $30,568,905
N et earnings ----------------------------------510,683.887*S12,215,701 $10,714 623
N et incom o (after t a x e s ) . b . . . ............. $12,655,721 $11,823,432 $10,875,915
Interest, A c ......... ....................................
2,532,463
2,474,442 2,451,661
Miscellaneous
......................................
141,822
142,639
113,591
Rentals paid
.......................
3,205,362
3,308,456 3,102,100
Dividends (1 2 % )..................................... 3,292,416
3,292,416 3,292,416
SurP>us.....................................................b$3,483,657
$2,605,478 $1,915,146
years’ dividends on Lehigh A W ilkes Barre Coal C o . stock
($2,207,300 instead o f tho usual $1,103,650). tho dividends o f D ec. 1915
ami -June 1916 having been declared but withheld for legal reasons until
191 1 .
lh e railroad itself has paid dividends regularly from 1901 to 1917
inclusivo, at the rate o f 12% per annum. T ho report for 1917 however
charges tho year’s Income not only with this 12% but aLso with tho regular
quarterly dividend o f 2 % paid in Feb. 1918, which for com parative pur
poses we om it from the foregoing table. P res., W . G . Hosier- Fed Mtrr
Charles (I. Ewing, P hlla ., Pa.— (V . 106, p. 2345, 2648; V. 108, p. 377.)
”
★ CENTRAL R R . OF SOUTH C A R O L IN A .— Owns from Lanes, 3 . o . , to
-1uniter, 3 . O., 40.2 miles; spurs. A c.. 1.61 m .; total. 41.81 m . Leased to
Atlantic Coast Line R R .: rental. $31.000 yearly and taxes. Stook, $170 000; par, $50. Annual rental, $31,000: in April 1919 general expenses. $299:
int., 818,000; divs. (7 .2 % ), $12,240: balance, surp., $9,157.— (V . 64, p. 887)
C E N T R A L R Y . O F C A N A D A .— See page 132.
CENTRAL R Y . OF SOUTH C A R O L IN A — (V . 82. p. 927.)
★ CENTRAL VERMONT R Y .— Operates from Rouses Point, at north end
o( Lake Champlain, to New London, Conn., with branohes, 536 miles In all.
of whloh 160 miles leased, viz.: New London A Northern (see that 00.). 121
m ill*; M on tvllle Branch. 3; West River R R .. 36 m . V. 68. p. 1076. In M a y
1914 received authority to lease for 999 yrs. Southern New England R y .
partly built. Palmer, M ass., to Providence; and in M ay 1916 asked right
to purchase it; a con tractor In N o v . 1918 obtained S2.000.000 attachm ent
on said line. V l Oi . p. 2008: V. 102, p . 1718. T he advances b y the
Central Verm ont on account o f this line had on June 30 1916 aggre 6ated
®8 ’Qi 9,’.?,91Aot-»he 9 / ' Vs loans and bills payable D ec. 31 1917 amounting
to $ 8 ,633,937. V . 98, p. 1459; V. 102, p . 65, 2311; V . 103, p. 2078
Steam boats, V . 103, p . 406.
’ p
u' ° ’
“ A D V A N C E S ” A N D “ S T A N D A R D R E T U R N .” A c.— See page 5.
S E C U R IT IE S. Ao — The Grand Trunk R y . holds $2,164,500 of the $3 000,000 stook. Form of Interest guaranty. V . 85, p. 283. For Central
Vermont Transportation guar. 5% bonds, see V. 88 , p. 1252; guar, bonds
covering 2 steamships V 94 n. 910. 1249, 1626, 1S95: V. 95, p . 749. There
were also D ec. 31 1917 $35,000 collateral bonds.
L A T E S T E A R N IN G S .— (1918-Gross, $5,188,837; net (bef. def$399,701
12 m os., Jan. 1 to D ec. 31 .\ 1917-Gross, 4,482,811; taxes),
752,500
R E P O R T .— For cal. year 1917 in V. 107, p. 1666.
Year—
„ N et.
Other Inc.
Charges.
Dal.. Sur.
1 9 1 7 ........... $4,816,578
$526,168
$50,387
$731,283 def$154,729
1916
4,811,330
894,175
43,720
731.099 sur206,796
O F F IC E R S .— Chairman. Howard G . Kelley: Pres.. E . O . Smith- Clerk
A Troas., W . II. Chaffee, St. Albans. V t.; General M gr. under U . S. G ovt
J. W . W ardlaw, St. Albans, V t.— (V. 107. p. 180, 1666, 2008; V. 108 p 267)
MAP OP THE
C H E S A P E A K E & O H IO
R A IL W A Y
L IN E S
v
E lk h a r t
ile v e la n d
INDICATES DOUBLE TRACK
N e w c a s t le
ChipsCgo Jc.
u e
.llia r ic e
V s h e l b y ^ 't
Eort Jervlf
ila u c h
\Chunk
N N E a ston ,
>
jN .
K B u t le r ,
\ H otn ew t5 od j
<TR£J4TOI
Juliua
Kokomo.
If. ARM
H o llid a y s )
S te u b ’ea
Harty
ran k fort. s '
[O L U f^ B U S
\ C a m h rld ge
'W h e e l i n g
rlla ire \
ir6t0,w n
fo u n d s V .
C « o H
y LANCl
;ir c le v iU (
mcastle
g to n
f
9'^p\
Columbus
< \ j Q r tx u s b u r /* '
• ^ V ^ II a r r ls o u
/
'B S ^ H i U s b o r O - - ^
/
Wa v e r l ;
•
—-^/Sardinia
?
(Weston
I JA CK SO N ^
|g a l l I p o u s i
?
raahlngton
sbury i
a
[ltchell
ra n s v ilh
r j A o B cc/i
o Yvf-i££kS-1
CecU li*'0 'tx o
B,RCrtFJELo3
"
M
B u r k e v ili d ;
K e y s r r llld j/
l
R A ILW A Y STOCKS A N D BONDS
B r id g e p !
N ew ark 1^— *
.Losaiitvlii-:
W e s t fie l d
(rawfords
London
Saityillo
M e m p h is J c f p -
(C la r k s v ille
t u t h r ic
.A d a ir s v llle
;:S tu a r t
fa n v il'.e .
[on trose
Jellico
^Bristol /
m esboro
Oxford
^
Edentoi
H en4^ 5
"W in s to n
IASH.V1LLE.
D u rh am ?
C arey'
J su n esv ille]
i^ ° \ i> t e s y U le
P a m lic o
S m U h tle lc T
Asheville'
rbi u b o r o j
(Charlotte
Clevelapi
Fayetteville'
p 0 y
IVol. 108.
E in e t ^ lfi
Scoftsvllle
APR.,
1919.1 *gS T “ *
R A IL R O A D C O M P A N IE S
[F o r a b b r e v ia tio n s , A c . s e e n o te s o n fir s t p a n e]
do
APrlvate
Control.
RAILWAY STOCKS AND BONDS
M ile s
R oad
do
General mortgage (tor $70,000,000 Ao) g oldllceixo
Greenbrier Ry 1st M $3,000,000 g assumed._Eq.xo
Big Sandy Ry first mtge $5,000,000 gold...C e.xo
Potts Cr Br IstM $1,000,000 auth(V 83.p 693)Ce.xo'
Virginia Air Line 1st M $900,000 g assumed_______ ;
1913
$ 1 ,0 0 0
$ 5 0 0 ,0 0 0
1903
1907
1896
1914
1914
1897
1902
1 ,0 0 0 A c
1 .0 0 0 A c
1 .0 0 0
1 ,0 0 0
1 .0 0 0
1 .0 0 0
1 ,0 0 0
8 0 0 .0 0 0
2 5 0 ,0 0 0
2 ,7 2 0 .0 0 0
2 ,3 8 0 ,0 0 0
1900
1907
_____
1882
1889
1890
1890
1891
1892
1905
1905
1900
1904
1906
1907
1906
1909
1910
1910
1915
1911
1 .0 0 0
1 ,0 0 0 S tc
100
5 0 0 S tc
1 ,0 0 0
1 .0 0 0
1 ,0 0 0
1 .0 0 0
1 .0 0 0
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
1 .0 0 0
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
1 , 0 0 0 Sec
1 ,0 0 0 A c
500 A c
1 .0 0 0 A c
31
___
io
697
242
26
1 .4 3 3
22
104
101
86
20
30
1 ,6 6 1
Ohea A Ohio N orlst M (closed) red TbVgu"p A I.
first Lien A Impt mtge $125,000,000 authorized..*
Oar and equipment trusta (see text)
A m ount
O u tsta n d in g
31
4 4 .5
Terminal 1st M 1922 covering 8 m to Phoebus g zo1
First Oonso! mtgc tor $30,000,000 gold__C«.xo*A
Rich & All Div 1st A 2d Ms ($1,000,000 2ds)Ce.xo
Par
V a lu e
____
341
341
341
charlotte Monroe & Columbia—1st M $70,000 g __ o
Charlotte Columbia & Augusta— See Southern Ry
Chartlers— See Plttsb Cincinnati Chicago A St Louis
Chattahoochee Valley—
D a te
B onds
3 0 .4
R a te
%
0 8
4
4
5
2 to
6 0 0 ,0 0 0
7 0 ,0 0 0
W h en
P a y a b le
J
A
J
J
A
A
A
A
A
&
g
g
g
5
J
6 g
6g
A
J
A
2 8 0 .0 0 0
5
J
1 .0 0 0 .0 0 0
4 g
J
6 2 .7 9 2 .6 0 0 4 in 1 9 1 8
1 4 2 .0 0 0
.r
6 g
2 9 .8 5 8 ,0 0 0
5 g
M
7 ,0 0 0 ,0 0 0
J
4 g
6 5 0 ,0 0 0
5 g
J
4 0 0 ,0 0 0
M
5 g
4 8 .1 2 9 .0 0 0
4J<j g M
5 3 9 .0 0 0
4 g
F
2 ,7 5 0 .0 0 0
4 g
J
1 .7 4 2 .0 0 0
M
4 g
4 .5 1 0 .0 0 0
4 g
■)
6 0 0 .0 0 0
4 g
.1
9 0 0 .0 0 0
M
5 g
8 4 5 .0 0 0
4 g
J
P 3 ,6 9 8 .0 0 0
5 g
J
3 1 .3 9 0 .0 0 0
4H g K
4 0 .1 8 0 ,0 0 0
A
5 g
1 .0 0 0 .0 0 0
A
5 ft
t)
P le d g e d
A
A
L a s t D iv id e n d
a n d M a tu rity
31
P la c e s W h e r e I n te r e s t a n d
D iv id e n d s a r e P a y a b le
1 1933
West End Tr C o, Phlla
J J u ly
J Jan
O O ot
J Jan
1
1
1
1
o Apr
1 1947
1 1932
Guaranty Trust Co, N Y
Equitable Trust Co, N Y
Central Trust Co. N Y
New York or Baltimore
do
do
Central Trust Co, N Y
J
Jan
J
o
O ot
1953
1937
1940
1964
A J 1 5 J u ly 1 6 1 9 2 0
A
J Jan 1 1957
D e c 31 1918 2 %
A
D Ju n e 1 1922
A
N M a y 1 1939
A
J Jan 1 1989
A
J J u ly 1 1 9 4 0
A
S M oh 1 1 9 4 1
A
s M ch 1 1992
A
A F eb 1 1945
A
D Ju n e 1 1945
A
N N ov 1 1940
A
D June 11944
A
J J u ly 1 1 9 4 0
A
N M ay 1 1952
A
J J u ly 1 1 9 3 0
A
J Jan 1 1929
A
A F eb 1 1930
A
O A p r 1 1940
A
O O ct 1 1945
D fv
i ju.'-in
do
do
»7 1
do
do
do
do
do
do
yay,
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
G u a ra n teed b o n d s—
Kiev Co IstMgCCAO owns $284.000)gu pA l.Ce.zc*
2d M Incn-c (O&O owns *402.500) not guar.zc*
Che8 «fc Oh!o Nor Ry— See statement below
Louis A Jeil Bdg 1st M $5,000,000 gu p A. I end o •
p Further $7,302,000 pledged under first lien & i m p t .
a Guaranteed Jointly and severally with Cleveland C i n o i n
1888
1888
1 .0 0 0
1 .0 0 0
8 2 0 .0 0 0
4 5 0 .5 0 0
* t
\
A
1895
1 .0 0 0
m tg o .
imi.> r jih lc m r o
• 4 .5 0 0 .0 0 0
4 t
M
A CENTRAL W E S T VIRGINIA & SOUTHERN RR.— H e n d r i c k s . W .
v a . , t o A r m e n t r o u t , 2 9 .5 m il e s ; le a s e s f r o m A r m e n t r o u t t o H o r t o n 1 .5
m ile s ; t o t a l , 3 1 m ile s .
S t o c k , S 5 0 0 .0 0 0 ; p a r , $ 1 0 0 .
B o n d s ($ 1 ,0 0 0 ,0 0 0
a u t h o r i z e d ) , o f w h ic h $ 5 0 0 ,0 0 0 r e s e r v e d f o r n o w c o n s t r u c t i o n .
C a ll
a b le o n a n y In te re st d a y a fte r J a n u a r y 1 9 2 3 a t 1 0 5 .
S in k in g f u n d r e
t ir e s 5 % o f b o n d s o u t s t a n d i n g s e m i- a n n u a lly .
P r e s ..
R obert
P
W h ltm e r ; V . - P . , C h a r le s S te e le ; T r e a s ., J . E . R ic h a r d s ; S e c ., M . M . D a l y
P h ila d e lp h ia , P a .
O f f i c e , H e n d r i c k s , W . Va.
St
A
O O ot
O ot 1
O ct
A
s M oh
1 1938
1 1988
1 1945
do
J P Morgan A C o, N Y
L o u i*
1IIST ° R Y , A C .— In 1888 reorganized without foreclosure. V. 88, p.
294. I’ or 9-year financial statement to Dec. 31 1917, see V. 106 d
1911. Owns *8,825,800 of $11,000,000 Hocking Valley com. stock,’ for
court decision in 1917, see V. 105. p. 908, 997. As to Ches. A Ohio R y . o f
Indiana, see below. V 90. p . 1675; V . 91. p. 93. 214. 802. In Jnly 1917
acres o f coal land through the Western Pocahontas Fuel
180; V . 106, p . 1911.
T he stockholders voted M a y 3 1918 (V . 106, p. 1343, 1796, 2122) to
★ CHARLESTON (S. C.) TERMINAL CO.—ROAD.—Owns terminal road, acquire b y purchase or otherwise all property o f tho following subsidiaries:
Kanawha Bridge & Terminal C o . (V . 91, p. 1629); lb) Gauley ft M eadow
o .
0 2 m .;
14 w h a r v e s , 3 0 w a r e h o u s e s, 4 c o t t o n c o m p r e s s e s . A o .
V
7 7 (a)
River R R .: (c) Logan & Southern R y .; Id) Pond Fork R y . C o .; (e) Piney
p . 148, 298.
S t o c k a u t h o r iz e d , $ 5 ,0 0 0 ,0 0 0 ( V . 1 0 5 , p . 2 4 5 5 ): Issu e d t o
River & Paint Creek R R . C o.K V . 83, p. 436); If) Elkhorn St Beaver Valley
D e c . 1 9 1 7 , $ 2 0 0 ,0 0 0 . o w n e d J o in tly b y A t la n t i c d o a s t L in o R I i . a n d
S o u t h e r n R y . . w h lo h a g r e e t o m a k e g o o d a n y d e f i c i e n c y In i n t e r e s t o n b o n d s
R y . C o. (V . 99, p. 119); and (g) Chesapeako St Ohio N orthern R y . C o .
L o a n s a n d b ills p a y a b l o , $ 3 0 ,0 0 0 .
F o r y e a r e n d in g D e c . 31 1 9 1 7 g r o s s '
D IV S .— 1'99-'08. 1909. 1910. 1911. 1912. 1913. 1914.1915. 1916. 1917
$ 1 9 1 ,9 8 3 ; n e t a ft . t a x e s , $ 7 ,2 3 4 ; o t h e r I n c o m e , $ 1 4 ,5 6 8 ; I n te r e s t $ 3 2 * 0 0 0 :
Per c e n t . .} 1 yearly 3
4M
5
5
4M
3 N one
2
4
def
$10 198.
U
S . T e r m i n a l M a n a g e r . J . P*. W a l k e r . ' S t e t o n , S ° 0 . '
D ec. 1916 to D ec. 1918, Incl., 4 % p . a . (2 % J. & D .) . V . 1 0 6 ,p .2 2 2 8 .
v. V . l U o » p . O i o « j
.oS '£ 2 H £ vT ~ A uth0r- stock was increased In 1916 to $155,000,000, o f which
★ CHARLESTON UNION STATION CO.— O w n s p a s s e n g e r s t a t i o n
at
*37,200,000 was reserved for conversion o f 4 H s o f 1910 and $50,240,000 for
j t 'a r l e s t o n , S . C . . u s e d b y A t l a n t i c C o a s t L i n e a n d S o u t h e r n I ^ y . . w h i c h e a c h
conversion o f 5s o f 1916. V . 102, p. 1162. 1625. 1st St 2nd p ref., $3,200.
o w n s o n e -h a lf th e s to o k a n d g u a r a n te e s th e b o n d s , p . & L b y e n d o r s e m e n t
B O N D S.— Abstract or consol, m tge. of 1939 in V . 49, p 147: V . 8b n.
R e n t a l c o v e r s in te r e s t o n b o n d s a n d 4 % o n s t o c k .
S o a b o a r d A ?r L in e R y * ’
1588; V . 92, p. 260; of RIohmond A Allegheny m tges.. In V . 51, p. 144.
a l s o u s e s p a s s e n g e r s t a t i o n u n d e r a g r e e m e n t . — ( V 8 4 n fin )
*
The General mortgage ot 1892 (Central Trust Co. and H . T . W ickham ,
★ CHARLESTON * WESTERN CAROLINA RY.— P o r t R o y a l , S . 0 . v i a
trustees) Is for $70,000,000, but additional amounts at $25,000 per mile m ay
-v U g U s tA . G a . , t o S p a r t a n b u r g , S . 0 . , 2 4 6 m . : b r a n c h e s t o A n d e r s o n ' a n d
be Issued for double-tracking. See full abstraot of m ortgage In V . 54, p.
U M 1' c o % 8 f l 6 ’ p 983 8 1^ 3 5
’ 341 m '
E n t lr e s t o c k o w n e d b y A t l. C o a s t
544. In July 1915 $31,131,000 was reserved to retire underlying bonds.
“ A D V A N C E S ’” A N D " S T A N D A R D R E T U R N ” & c — S e e
fi
£ S ne.r.iJ,lFulJd,ni? and Im P- m° r t .. V . 87, p. 1663: V . 88 .P. 157.
T he first Lien and Improvement's mortgage o f 1911 is limited to $125.
C o m p e n s a t io n fix e d u n d e r F e d e r a l c o n t r a c t a s s ig n e d , $ 4 6 6 1 9 2 1 7
000,000 bonds, bearing Interest at rates not to exceed 5 % . It provides for
S T O C K .— * 1 ,2 0 0 ,0 0 0 ; p a r , * 1 0 0 . S e e A u g u s t a T e r m . R y . V . 8 6 , p . 3 8 3 .
extensions and impts. and the retirement o f certain equipment and other
B O N D S . — O f t h e 1 s t c o n s o l . 5 0 - y r . b o n d s o f 1 9 1 4 1 11 0
nnn
obligations, including the "G eneral Funding and Im provem ent” bonds,
I z e d I s s u e d ) . * 2 , 3 8 0 , 0 0 0 . I s s u e d t o r e t i r e t h e I n c o m e iT o n d s h a ^ e S S S S S i
and for other corporate purposes. O f entire $47,265,000 outstanding under
p a y a b lo a t 2 % y e a r ly fo r th e fir s t 2 y e a r s . 3 % fo r th e n e x t 3 7 4 % f o ? th e
this m ortgage In Jan. 1918. $45,920,000 had been pledgod to secure the
n e x t 6 a n d th e r e a fte r 6 % .
n r
— ■-— ..
■ * /« l o r
$40,180,000 convertible 5s o f 1916, due 1946 and no part held b y public.
h ig h e r th a n th e S o .
'
Collateral Dec. 31 1917 fo r First Lien and Im pt. Mortgage Bonds.
t im e t o r e tir e th e o ld
C
. & O. Equipment C orporation securities representing equiprt . $11,925,632
a n d $ 4 ,3 0 0 ,0 0 0 e x te n
£• * °L
<%’ o f Ind-— iStock, $5,998,800; bonds, $7!270,000-$13,268,800
V . 100, p . 1347.
Ches. A Ohio Northern R y . s t o c k __________________
_
3 497 goo
L A T E S T E A R N I N G S .— /1 9 1 8 — G r o s s , $ 3 ,0 1 5 8 8 7 - n e t ( b e f o r « « fio a a a c
Ches. & Ohio R y . C o . General Funding & Im pt. bonds
I . I l l 7I302 000
1 2 m o s . , J a n . 1 t o D e c . 3 1 . t l 9 l 7 - G r o s s . ' 2 .4 0 1 ,4 4 2 1
ta x 4 )
? 873 516
H ocking Valley R y . C o. stock (out o f $11,000,000 outstanding). 8.825,'000
Elkhorn A Beaver Valley R y. C o. stock St bonds (V . 99, p. 119) 1,061,0(10
R E P O R T .— Y e a r e n d in g D e c . 31 1 9 1 6 , V . 1 0 5 . n 2 3 6 5 '
Logan St Southern R y . C o. s t o c k . . _______________________ _
292 100
C a le n d a r
G ross
N e t a fter
O th er
In ter es t.
C om m on
. B a la n c e ,
M iscellaneous____ _________________ _________ _________ 9 9 3 ’, 508
Y e a r s . E a r n in g s .
T axes.
I n c o m e . R e n ts. A c D iv id e n d s
S u r p lu s .
1917.
. . $ 2 , 4 0 1 , 4 4 3 $ 7 6 3 ,3 1 7
$ 6 5 ,8 2 8
$335 608 u m a e n a sThe
First
Lien
A
Improvement
Mortgage
bonds
will
thus
be
(1)
a
first
lien
$493,538
1 9 1 0 - . . 2 ,0 2 5 .3 7 0
6 4 8 ,0 2 2
6 4 ,8 4 3
3 0 9 , 1 0 5 (filJ O O 'O O O
v h / m i.
either directly or through deposit o f all stocks and bonds, upon 320.57 miles
343,760
1 9 1 5 - - - 1 .7 7 6 ,5 9 6
4 7 6 ,1 7 2
4 5 .2 5 9
3 2 6 2 4 6 W * 0 U ’ UU0
o f railroad, viz.; (a) D irectly on 29.34 miles o f coal branch lines in W est
P r e s ., F . B . G r ie r , G r e e n w o o d ; 1 st V . - P . , J
R
K o n " l v * 'a e e
n n
Virginia; (b) through deposit o f all securities on 9.79 miles o f L ogan St
Southern R y . in W . V a.. on 20.74 miles o f Elkhorn St Beaver Valley R y
L
T
l C
b l f e , G a . - ( V 3 - 1 0 7 , 1S el,l &
B a ltl“ o r e *
* « * * » ! M g r ..’
In Kentucky, and on 260.7 miles o f main line between Cincinnati and C hi
cago. (2) a first lien on all stock o f O. A O. Northern R y .. road under
construction, and 80.23% o f stock o f tho Hocking Valley R y . C o . (3) A
* b j ^ ^ i Py - t o ^ S c e ' p i i c i d , ^ r n U r a , ' o t w h i ^ I M u T f
lien on all the remaining lines o f railway owned or controlled b y the com
P o in t t o D a n n e m o r a , 1 6 m . . s le a s e d a t n o m in a l r e n t a l fm r A
v
pany. aggregating about 1.800 miles, subject to $101,872,000 prior liens.
4
ho 4
converti ble bonds, due Feb. 1 1930. have a parity o f lien with
the First Lien St Im pt. bonds on such lines as were owned on April 28 1910.
but not on the above-m entioned collateral.
2403, any balance over expenses of operation Interest taxes 'maintenance
O f the authorized $37,200,000 convertible gold bonds o f 1910, $31.390,000
damages, dividend on pref. stock. ^ . . to ^ to t h e ' l S ' The tSS,e
subject to rovision on 6 months’ notice by either party!— (V? 84, p. 5<M?3o!) were Issued In that year. T h e y are redeemable after 1915 at 10214.
and convortiWo at par. at the option o f tho holder, into stock till F eb . 11921.
★ CHATTAHOOCHEE & QULF RR.— Columbia, Ala., to Florala, 92 m
V . 90. p. 771. 848: V. 91, p . 870. 945. 1159. 1574.
, , J k0 Convertible 30-year 5 % gold bonds o f 1916 for $40,180,000 (V . 102. p.
1162) aro convertible at option o f holder at face value into com m on stock
Jan 1 1917), o f which 1% to be used a s T S J i ® mnd f T r e t ^ ^ t e ' (a) at $75 per share up to and including April 1 1920. (b) thereafter at $80
per share up to and Including April 1 1923, (c) then at $90 per share up to
Sm <Cont!<o f
^y?—Tv!°99!ep
v
! 1 0 & , 2542.] p*y*^*^^• and incl. April 1 1926. and Id) at $100 per share up to and Inch April 1938.
with adjustment o f dividends and interest. The entire Issue, but not a
art thereof, is to be redeemable at option o f com pany on any interest
^leCe“ AcrT TY^H
b?maC 44E5 m ^ LLFsTocl^ - - S t a n d i n g
Alabama to
ate up to and Including A pril 1 1029 at 105% and interest, and there
par. $100. Bonds, see table abovo. Loarls Vnd bills’ nayabfe r)ee°^?i after at 100% and Int., upon 60 days' notice; In case o f redemption during
the conversion period the privilege o f conversion shall terminate 30 days
d h M g e f , 80i 3 4 ° 5 0 5 ^ . . m l ’.
gV^Ts W
/ n r ’S f t 5
prior to the m lem p tion date. T he bonds are secured b y deposit with the
after taxes, $69,289; charges, $37,(577; war t a x e s * t l . W K i ..$8ur ', $29 630
trustee o f $4o,920,000 First Lien St Im pt. M tge. 6 % bonds, above described,
A proportionate amount o f the security m ay be withdrawn as bonds are
convertible into stock. V . 103, p . 60.
Louisville A Jeffersonville Bridge.— 8ee separate statement for that c o .
Pad Ho, which cacti owns one-fourth of the s t o o lr A n d i n i A r A n to o n * n _ » .
Greenbrier Ry. 4s V . 72, p. 626; see also V . 71. p . 554, 602; V . 79, p . 915.
8.000
Surchased
o . V . 105. p.
S
Ft.Monroe,Va.,toCovlngton,Ky.
RIohmond via Lynchburg, to
Clifton Forge, Va...................
Branohcs In Va. and W . Va__
Denton, Ky., to Lexington____
Big Sandy Jot. to Elkhorn City,
with branoh.............................
Branohes In Kentuoky------------
663 Bridge— Covlngton-CInolnnatl
2
Ches. & Ohio Ry. of In d ian a... 261
230 Ohos.
29
& Ohio Nor.......................
662
Lines leased—
103 Sundry
branohes leased.............
3»
Trackage to Louisville...............
84
128 Norfolk A West___________
62
75 Traokage to Washington. D. O.
85
Other traokage...........................
55
Total o f all.............................. 2.47;
Chesapeako A Ohio Northern Ry. (merger nendlmr)' wm nnenol
1917 a 30-milo line which, as sunplomentSd by ^ 2 mUes t m c k S o™ ? ) ^
?SK4)h rn°itoi «Ghmh Ihrnn?.'t,?P
1751;V.*98,*pl 1M0?
ng Kaaawha
ft Mich, line (V . 101. p.
1^!\)!4973;8v!*106?p'.^19r2!CS’
V' 10° ' P'
n i l " S g S '& J S ,?' v .<8 i .VD . 668? ' 917: T - 82- P - 297! T - 8 7 ' P- 22S- 41<Coal River 4s. V . 80, p . 2219; V . 83. p . 693; V . 89. p . 720: V . 98. p . 453.
Paint Creek B r. 4s $211,000 reserved for extensions. V . 81, p . 974, 910.
Raleigh A Southwestern 4s, V . 84, p . 1114; V . 89, D. 720.
Principal Car Trusts Gold (.Denom. $1,000 Each) 1918 (V . 106, p . 1911.)
Series. Date.
Outstanding.
Mature in Installments.
£
; r ; 5 S77 "
*935.000 June ’ 19-June 15 ’24
$ 8 5 .0 0 0 s.a ’
2
?«4)17SrCa11102^ " 2.212,000 July 15 ’ 19-Jan. 15 ’ 26 158.000 s.a .
S
------ 2,000,000 Juno ’ 19-Dec. ’20
125.000 s.a.
R 1917 4 M % call 102 . . . 3.213.000 M a y ’ 19-M ay ’27
189!000s.a.
Interest paid semi-annually as indicated b y m aturity date: ” N 44 “ O ’ *
•P” and " R
at Comm ercial Trust C o ., Philadelphia.
’
F IN A N C E S — T h e balance sheet o f D ec. 31 1917 showed an appropria
tion from surplus o f $7,500,000 for additions and betterm ents, wnlch sum
has boon oxponded on the p roperty and In reduction o f capital liabilities
durihg the period from M a y 11916 to D ec, 31 1917, On Issue o f convertible
5 % bonds o f April 1 1916, the directors voted to spend $7,500,000 out o f
surplus and capital account during the three years com m encing M a y 1 1916,
★ Government
Control.
32
M ile s
R oad
R A IL R O A D C O M P A N IE S
(F o r a b b r e v ia tio n s , A c . , s e e n o te s o n f i r s t p a g e]
Par
V a lu e
D a te
B onds
1898
C f e * U 0 The r ^ S
i l8 t M (V 6 7 . p 3 2 2 ) g u p A l.x
1905
W e ste rn P o o a h o n ta s C o rp 1st M (V 8 4 . P 9 9 5 ) .--X
1906
do
do
do
E x te n s io n N o l . x
1906
do
do
do
E x t e n s io n N o 2 x
1917
W e s t P o c a F u o l C o . c o u p o n n o t e s d u o $ 5 0 ,0 0 0 y r ly
1903
R lo h m o n d -W a s h ln g t o n C o (o n e -s ix t h I n t e r e s t ). . . 2
6
2
1
910
C h e s & 0 R y o f J n d — lo t M 5 3 0 .0 0 0 .0 0 0 r e d p a r . . . B a x
38
1905
C h e s t e r fie ld & L a n c a s t e r — 1 s t M $ 7 5 0 ,0 0 0 g . - C o l . x o
4
C h e s t n u t H il l R R — S t o o k r e n t a l P A R R y ...........................
C h i c a g o & A l t o n R R — C o m m o n s t o c k .......................................
P r e fe r r e d s t o c k 4 % n o n -c u m u la t lv e - - - - - - - - - - - -
4 % c u m u la t iv e p a r t ic ip a t in g a n d p r io r lie n s t o o k
1899
889
O h io & A l t o n R R ( o l d ) r e f i f g ( s e e t e x t ) I C . x c ' A r *
1900
943
F ir s t lie n ( o l d R y ) M s u b je c t t o o a ll a t p a r . F x o & r
1907
D e b e n t u r e s , s u b j e c t t o o a l l ----------------------- C e x f E q u a l l y
1912
G e n i f $ 2 0 ,0 0 0 ,0 0 0 g r e d t e x t . U s m x o 'A r * ) s e c u r e d
1910
O * A E q T r S e r u g u r e d 1 0 1 d u e $ 7 2 ,0 0 0 a n . P e P . x o *
1
916
do
S e r ’ 16 c a ll 10 2 $ 4 7 ,5 0 0 d u o J A D Q U . x x x
162
K a n s a s C ity S t L o u is & C p r e fe r r e d s t o c k g u a r . . .
37
J o lie t & C h ic a g o 7 % s t o o k p e r p e t u a l g u a r b y C A A
101
L o u is ia n a A M is s o u r i g u a r a n t e e d p r e fe r r e d s t o c k
1910
27
R u t la n d T o l & N o 1 st M g g u r e d s in c e O c t 1 5 -N C c *
C h i c a g o B u r l i n g t o n & Q u i n c y - S t o c k ................
1908
8 .4 9 0
G e n m t g e $ 3 0 0 ,0 0 0 ,0 0 0 la w fu l m o n e y
C c .z o * A r *
I l l i n o i s D l v f i r s t m o r t g a g e ) $ 8 5 . 0 0 0 , 0 0 0 c u r r e n c y • _ '1 . 6 4 7 1 1 8 9 9
1 ,1 8 9 9
(V . 8 3 . p . 6 2 5 ; V . 6 9 . p . 2 8 3 ) /
re d eem a t 1 0 5 .-N B z
1879
891
S in k in g fu n d I o w a D lv 5 s (c o ll tr u s t) d r a w n a t 10a z
1879
891
S i n k i n g f u n d I o w a d l v . 4 s d r a w n a t 1 0 0 . ----------- z o & r
1881
S in k in g fu n d 4 s (S o W D lv ) d r a w n a t 1 0 0 . - . . z o A r
1881
370
D e n v e r E x t e n ( c o l l t r ) b o n d s s f d r a w n a t l O O .N B z o *
1887
1 .4 7 1
N e b r a s k a E x t $ 2 0 ,0 0 0 p m ( s f n o t d r a w n ) .N B .z o * A r
$ 1 ,0 0 0
1 .0 0 0
1 ,0 0 0
1 .0 0 0
5 0 .0 0 0
l.O O O J & c
1 .0 0 0
1 .0 0 0
50
100
100
100
1 000 Ac
1 .0 0 0 A c
1 .0 0 0 A c
1 .0 0 0
500 & c
100
100
100
100 A c
100
1 000 A c
l .O O O A c
1 .0 0 0 A c
1 .0 0 0
1 ,0 0 0
1 .0 0 0
100 A c
1 .0 0 0 A c
a n d It t h e r e f o r e d i d t h is in 2 0 m o n t h s I n s t e a d o f 3 y c j J P T b ° s u r p lu s fo r
th o 20 m o n th s a fte r p a y in g d iv id e n d s a m o u n te d
,5 0 0 L le a v ln p a
b a la n c e o f $ 1 ,7 6 8 ,5 0 0 a ft e r t h o a p p r o p r ia t io n o f $ 7 ,5 0 0 ,0 0 0 fo r c a p it a l
e X ? f ns . i R I G A d m i n ^ t o J u l y l i o i S s a n c t i o n e d l m p t . o u t l a y s o f S 7 0 2 8 0 9 4 ;
e a u ip m o n t , $ 1 0 ,8 7 7 ,9 9 6 ; e x t e n s io n s . $ 5 0 0 ,6 3 1 ; a n d f r o m A p r il 1 t o D e c . 1
1 9 1 8 a d v a n c e d th e c o m p a n y $ 7 ,0 5 0 ,0 0 0 .
V . 107, p. 2187; V . 106. p . 2 1 9 4 .
“ A D V A N C E S”
T o
M ar.
A N D
“ S T A N D A R D
R E T U R N .”
& c .— S e e p a g e
5.
1 1 9 1 9 th o W a r F in a n c e C o r p . h a d lo a n e d t h o c o m p a n y $ 2 ,-
3 7 E A R ° N I N G S 0 — ? 2 m o s . ', ( 1 9 1 8 ............G r o s s , $ 7 3 , 7 2 0 , 7 9 7 ; n e t , S 1 9 . 5 7 7 . 7 9 5
5 4 .6 4 3 .7 9 4 .n e t ,
lb ,5 3 /,J 8 S
Jan . 1 to D e c. 31.
\ 1 9 1 7 ........... G r o s s ,
A N N U A L R E P O R T .— F is c a l y e a r n o w e n d s D e c . 3 1 .
1921.
R e p o r t fo r c a l. y e a r 1 9 1 7 , V . 1 0 6 , p . 8 2 1 , 1 8 9 „,
C a len d a r Y e a r s —
1 9 .1>7 l i o
A v e r a g e m i l e s o p e r a t e d .................................
2 .4 1 2
P a s s e n g e r e a r n i n g s ----------------------------------------- S 7 . 8 9 9 . 4 5 2
F r e i g h t ..........................................................................
E x p r e s s , m a l l , & c ----------------------------------------3 ,7 4 6 ,1 1J
T o t a l e a r n i n g s ----------O p e r a t in g e x p o n s e s —
..$ 5 4 ,6 4 3 ,7 9 4
. . 3 8 .1 0 5 ,8 0 6
V . 106, p . 2004.
1911
1915.
1 9 ,\6o 7 0
2 ,3 7 3
2 .3 7 J
$
5
,
7
1 3 ,4 6 3
$ 6 ,4 3 5 ,0 2 5
3 5 .1 9 8 .3 5 8
3 9 ,8 8 8 .9 3 3
2 .6 6 9 .0 2 0
3 .5 1 0 .3 5 4
$ 4 9 ,8 3 4 ,3 1 2
3 2 ,6 9 8 ,6 7 6
$ 4 3 ,5 8 0 ,8 4 1
2 8 ,9 9 8 ,b 2 6
N e t e a r n i n g s -------------------------- ......................$ 1 6 , 5 3 7 , 9 8 8 $ 1 7 , 1 3 5 , 6 3 6 $ 1 4 , 5 8 2 , 2 1 5
1 ,5 5 7 ,5 1 6
5 5 0 ,6 8 3
9 .5 8 6
O t h e r I n c o m e ( n e t ) ------------------- ......................
T o t a l i n c o m o ----------------------I n t e r e s t o n d e b t -------------------T a x e s ___________________________
D i v i d e n d s ______________________
____ $ 1 8 , 0 9 5 , 5 0 4 $ 1 7 , 6 8 6 , 3 1 9 $ 1 4 , 5 9 1 , 8 0 1
_____$ 8 , 5 8 9 , 7 9 5
$ 8 ,3 8 2 ,8 3 3
$ 8 ,0 5 4 ,0 9 5
2 ,4 3 9 ,3 3 1
1 ,6 3 6 .6 0 4
1 ,4 4 5 .6 8 5
1 ( 4 %________________
) 2 . 5 1 1 . 2 6 4 ( _________
2 )1 .2 5 5 .6 3 2
.....................
B a l a n c e , s u r p l u s _________________________$ 4 , 5 5 5 , 1 1 4
$ 6 ,4 1 1 ,2 5 0
$ 5 ,0 9 2 ,0 2 1
O F F I C E R S .— C h a ir m a n & T r e s ., F r a n k T r u m b u ll; V ic e -P r e s ld o n ts ,
F . I I . D a v is a n d C . E . G r a h a m ; S e c ., C a r l R e m in g t o n ; T r e a s ., J a s . S te u a r t
M a c K io ;C o m p ., L . F . S u lliv a n .
.
D I R E C T O R S . — F r a n k T r u m b u l l ( C h a i r m a n ) , T . P . S h o n t s . IT . E . H u n
t in g t o n C . E . G r a h a m , F . I I . R a w s o n . F . I I . D a v is , J a s . I I . D o o le y , A . C .
R e a r ic k a n d C . B . S e g e r .
N . Y . o f f ic e , 71 B ’w a y .
G en. M gr. under
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— (V . 1 0 7 , p . 1 8 0 , 6 0 3 , 1 0 0 3 , 2 1 8 7 ; V . 1 0 8 , p . 2 6 /, 9 7 2 .)
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der.,
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3 t. L o u is , 1 8 m ..a n d , w ith A t o h . T . A S . F e , fr o m J o lie t t o P e q u o t , 19 m .
r h e s t o o k o f t h e P e o r i a R y . T e r m i n a l C o . Is o w n e d b y ’ thei C h i c a g o A A l t o n
in d C h ic . R . I . A P a o . R y . . w h ic h g u a r a n t e e t h e h rst m t g e . b o n d s ( $ 1 ,5 0 0 .BOO a u t h . I s s u e ) a n d 1 s t A r e f . ^ M . b o n d s .
V . 8 1 , p . 1099, V . 8 3 , P -7 5 2 .
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g u a r a n te e d p r ln . a n d I n t.
V . 91, p . 1024; V . 93, p . 408.
O R G A N I Z A T I O N . — T h e (o ld ) r a ilw a y o o m p a n y w a s o r g a n i z e d In A p r il
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V . 107, p .
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th e T o le d o S t . L o u is A W e s te r n p u r c h a s e d fr o m th e R o c k I s la n d th e « o n tr o llin g In te r e s t, v i z ., $ 1 4 ,4 2 0 ,0 0 0 c o m . a n d $ 0 ,4 8 0 ,0 0 0 p r e f. s t o c k , a n d
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V . 69.
n 178.
V . 69. p. 26. 129, 541; V . 7 0 , p . 429, 739. 995; V . 7 9 , p . 2 11, 967,
V . 84, p . 480. 507. 626. 803, 809; V . 88. p . 99. 293.
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due June 1 1922.
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p . 1344; V . 108, p . 267.
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s to o k (p r a c t ic a lly a c o n t r o llin g In te re st) w a s a c q u ir e d , a ffo r d in g o o n n e o t lo n s w it h t h e G u lf o f M e x i c o .
V . 87, p . 1604; V . 88, p . 157, 685.
O w n s lo ln t ly w ith th e N a s h v ille C h a t t a n o o g a A S t . L o u is t h e l a d u c a h A
I llin o is R R . (w h ic h o w n s a d o u b le -t r a c k b r id g e o v e r th o O h io R iv e r a t
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a n d j o i n t l y g u a r a n t e e s I ts b o n d s .
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V . 105, p . 715.
B O N D S .— G e n e r a l m o r t g a g e b o n d s ($ 3 0 0 ,0 0 0 ,0 0 0 a u t h . Issu e , In te re st n o t
t o e x c e e d 5 % ) a r e a llr s t lie n o n a b o u t 3 , 3 2 8 m ile s o f r o a d , a n d o n r e t i r e m e n t
o f th e o u t s t a n d in g u n d e r ly in g b o n d s , fo r w h ic h b o n d s a ro r e s e r v e d as b e lo w
n o»ed
w i l l b e a f ir s t H e n o n t h e e n t i r e m i l e a g e o w n e d , a g g r e g a t i n g 8 , 4 9 1
m ile s ’
V
103 p 4 9 3 .
T h e G e n e r a ls h a v e b e e n Is s u e d o r a r e is s u a b le ( V .
aft n 11 4 2 1461 ? V 8 8 d . 5 0 -1 . 6 8 5 ; V . 9 2 . p . 5 2 5 ; V . 9 6 . p . 7 8 9 ) , a s f o l l o w s :
T o ’ r e t i r e o u t s t a n d i n g b o n d s ( l n c l . $ 1 7 , 4 2 8 , 3 0 0 In s i n k . f d s . L . $ 1 7 7 , 0 0 0 , 0 0 0
t is u a b le fo r r e im b u r s in g t h e tr e a s u r y fa r o u t la y s a lr e a d y m a d e
b y I t f o r b e t t e r m e n t s a n d a d d i t i o n s ( $ 2 2 , 0 0 0 ,0 0 0 s o l d ) — 4 o , u u u , ix x j
is s u a b le fo r a d d it io n s , im p r o v e m e n t s a n d B e t t e r m e n t s o f a n d
t o t h e m o r t g a g e d p r o p e r t y ( o f w h lo h $ 1 3 ,7 2 4 ,0 0 0 s o l d ) - - - 7 8 .1 ) J.U (W
I n J a n 1 9 0 9 $ 2 0 ,0 0 0 ,0 0 0 g e n e r a l 4 s w e r e s o ld , o f w h ic h $ 1 3 ,7 2 4 ,0 0 0 w e r e
u se d t o p u r c h a s e $ 2 3 ,6 5 7 ,0 0 0 C o lo r a d o A S o u th e r n c o m . s t o c k .
V . 88. p.
685- V 92 p . 525; V . 90 , p . 789; V . 98, p . 999, 1316.
I* A u g 1 9 1 7 th o I llin o is P . U . C o m m is s io n a u t h o r iz e d t h e Issu e o f $ 2 5 ,
455 0 00 a d d it io n a l G e n M t g e . 4 % b o n d s .
T h o bonds
c o v e r a d d itio n s
a n d ’ b e t t e r m e n t s o u t o f e a r n i n g s a n d w i l l b e h e l d In t h e t r e a s u r y f o r a f a v o r
a b le m a r k e t .
V . 105, p .0 0 5 .
N o n e Issu ed t o O c t . 1 1 9 1 7 .
V . 101, p . 47.
A
p e
. . 1 9 1 9 .1
*g S H “ “
RAILROAD COMPANIES
RAILWAY STOCKS AND BONDS
(.For abbreviations, A c., see notes on first page]
Miles
R oad
D a te
B onds
Par
Value
A m ount
R a te
When
APrlvate
Control.
L a s t D iv id e n d
33
P la c e s W h ere In ter es t a n d
P a y a b le
an d M a tu rity
%
D iv id e n d s a re P a y a b le
C h ic a g o & E astern Illin o is — Com stock $15,000,000
$100 $7,204,400
Preferred stock 6 % non-cura ($15.000.000)_____
100 11,063,500
Apr 1 1913 144
Danville & Grape Creek R R — 1st M assum ed___:__
9 1880
1.000
97.000
6
May 1 1920a
N Y, Central UnTr(text)
First m ortgage extension____________________ . xo*
14 1881
1,000
91.000
6
Deo 1 1931a
N Y , Mech & Metals Bk
Consolidated m ortgage (for $5,948,000) gold-C e.zo*
130 1884
1.000
2.736.000
Oct 1 1934a
N Y , CentUnTrust (text)
General Consol and 1st M $ 3 0 .0 0 0 .0 0 0 .. C e.zo’ &r 1,024 1887 1.000 &o 21.343.000
8 *
Nov
1 1937
May 1915 coup not paid
Ch & Ind Coal R y — 1st M $25,000 p m ass’d .M p.zo*
168 1885
1,000
4.628.000
5
Jan 1 1936
July 1914 coup not paid
Evansville Terre Haute & Chicago lnoom e m ortgage
49 1881
1.000
150.000
6
May 1 1920a
Farmers’ L & Tr. N Y
Receivers’ certs $6,000,000, V 104, p 2640________
1916 1.000 &c 6.000,000
6
July 1 1917
Eq Tr Co. N Y, see text
R efund & imp M (text) g red at 10244-.B a .x o * & r
820 1905 1.000 &o 18.019.000
July
1
1955
July
1914 coup not paid
tz
Pur m oney 1st lien Coal M (foreclosed) g_Ce.xo*&
1912 1.000 &c 5.167.000
Feb 1 1942
Feb 1915 coup not paid
5 *
Evansv & T H 1st consolidated M g o ld _____ F.xo*
146 1881
1,000
3,000,000
July 1 1921a
6 K
N
Y
,
Bankers Tr (text)
Mount Vernon Branch m ortgage g o ld _____ F.xo*
25 1883
1,000
375.000
Apr 1 1923
April 1915 coup not paid
Sullivan Co Coal Branoh m ortgage g o ld ___F.xo
30 1890
1.000
450.000
Apr 1 1930
April
1915
coup not paid
First General mtge for $7,000,000 g o l d ...F .x o
201 1892
1.000 3.175.000
Apr 1 1942
April 1915 codp not paid
Refunding m ortgage $1,284,000 red par_____ Nx
201 1911
50 &c
1.284.000
6 e
July 1 1941
July 1916 coup not paid
Evansville Bolt R y first m ortgage g o ld ______
x
4 1910
1.000
142.000
6
g
Nov 1 1940a
N Y, Columbia Tr (text)
O&E 1 E q bds Ser G due $124,000 s-a e x t . . .
Bax
1907
1,000
372.000
Oct ’ 19-Oot ’20 See text
544
do Series H due $166,000 or $ 165.000s a ox t.x
1,000
1912
2.151.000
Sept 19-Sept ’25 See text
544
C hicago & Erie— 1st M g Int guar till prln pald.C e.zo*
249 1890
1.000 12,000.000
May 1 1982
Erie Railroad, New York
lnoom e bonds for $10,000,000 5% non-oum .
Nz
249 1890 1.000 &c bl 0 .000.000
5*
Oot 1 1982
do
do
Chicago & Atlantic Terminal 1st M g oxt 1918____ z
1888
300.000
July 1 192Sx
5 g
do
do
Chicago & Grand Trunk— See Grand Trunk W est R y
Chicago Great W estern— Comm on stock $46,000,000
1496
. 100 45.210.513
Pref (prln. & dlv) 4% cum red $50,000,000 a u th .
1496
100 43,926.602 See text
&
J
Jan 2 1919 1% J P Morgan & Co. N Y
First m ortgage gold $75.000.000......... .. Q,xo*& r*
1035 1909 $. £ & fr 25.383.000
4g
& S Sept 1 1959
do
do
Minneapolis Terminal m ortgage gold assum ed____ z
1900
1.000
500.000
344 gJ A J Jan 1 1950
Bank of Montreal, N Y
M ason C ity Sc Fort D od ge— See that com p a n y ”
Chicago & Great W estern— See Balt & O Chicago Ter RR
Chicago Hammond & W estern— See Indiana Harbor Belt R R
C hic H gts Term Transf— 1st M $1.000,000g red 105 sfx
1911
100 &o
562.500
6 g J A J Jan 1 1931
O u tsta n d in g
Northern Trust Co, Ohlc
a Paym ent o f accumulated and current Interest resu mod a 9 Of Oc 1 .1 1916 under order of Court dated Se
pt 25 1916 and continued since.
b All except $98,000 owned b y Erie R R C o
x Extended in 1918 at same rate till 1928. See Erie RR
CHICAGO BURLINGTON & QUINCY RR. (Concluded).—
The Iowa Division bonds are a first mtge. on the main line In Iowa from
Burlington to East Plattsmouth, on the Missouri River, 270 miles, and on
821 miles of branches and 86 miles of second traok. These bonds have a
sinking fund of l 44% ($203,800) yearly, for whloh the 4s are subject to oall
at 100 and the 5s at 105. The single main line and branohes covered “ shall
not exoeed In the aggregate 900 miles.” at $16,000 per mile: on second track
additional $14,000 per mile. V. 65. p. 462.
The Nebraska Extension bonds of 1887 are Issued at $20,000 per mile for
single and $ 10,000 per mile for second traok on not exceeding 1.500 miles
Now a direct first lien. Abstract of deed, V. 45 , p. 441: V. 85. d . 721 '
The remaining ($162,400) Hurl. A M . RR. in Neb. consols, were paid
Jan. 1 1918. V. 105, p. 2542.
“ADVANCES” AND “ STANDARD RETURN.” &c. (See page 5.)
over 65% of Gen. Consol. & 1st 5s. V. 96, p. 1555: V. 98. d . 999- V 99
p. 47: V. 100.P. 981. 1671, 2166: V. 101. p. 447. 1092. 1885T^.104. p 361.#
Committee for General Consol. A Is! Mortgage 5s.— Henry Evans (Chair
man) A. F. Halsted, Sec.. 62! Cedar St.. N. Y . Guaranty Trust Co.,
depositary. V. 101. p. 447, 129, 1972.
C om m ittee f o r S t. L . A a . F . Trust C ertiIs. fo r C o m . and P r e f. Stocks and
C . A E . I . Stoc*.— Alvin W. Krech (Chairman). Richard R. Hunter.
176 :
V>.ei04USp -<13^7d^ 2 3 5 ary' V ' ° 6, P- 1628, 1700: V ’ 97> p’
C om m ittee fo r C h ic. A Ind'. Coal 1st 5s.— James B. Mabon (Chairman).
Charles E. Sigler, Sec.; Central Trust Co., N . Y .. depositary. V. 98 d .
1992. Over 90% of bonds deposited. V. 99. p. 195. 269. 1299. 1596;
V .100, p.228:V.101. p.845:1V . 102, p. 344; V. 104. p. 2552: V. 107,p. 1481.
t Com m ittee fo r Purchase M o n e y Coal B on d s .—George O. Van Tuyl Jr.
(Chairman), James F. McNamara, Sec.; Metropolitan Trust Co., N. Y .,
08'oStaVdYo7retUri7470 Company Under Govfc’ s t r u c t as signed, $33,390,- depositary; 75% deposited. The coal property was sold under foreclosure
o«)oe-ir0I? ^ tt€eoS!ll:LeP; 18 and 19 1917 for $3,800,000. V. 105. p. 1617.
Advances from Fed. RR. Admin, as loans or on rental account tr, Tin
pI
n
Nov. 1917 this Issue received a payment of
31 1919 aggregated $10,650,000: in March 1919 the War Finance Coro’ 20% ($200 per $1,000 bond) chiofly from coal earnings accumulated during
loaned the company $4 ,000 ,000 .
war * mance Gorp. the receivership. V. 105. p. 2093. A further $18 76 per bond was paid
EARNINGS.— 12 mos., /1918— Gross, $144,172 769- net *39
1 era V. l E i ^ p . 97 7 ; Vnd106 p^i’s T ^ g o o 5 (holders of deposited bonds $100).
Jan. 1 to Dec. 31.
tl917...Gross.' 122.342.707: net.’ 43.710.363
Com m ittee fo r Evansville A T . H . 1st G en . 6s.— Frederick J. Llsman (Chair
REPORT.— Ann. meeting 1st Wed. In May. For 1917 V 106 d 2114- man); Secretary, Graham Adams. 30 Broad St.; Farmers’ Loan & Tr. Co.,
Calendar Years—
1917 .
i 9 ia* ’ too. p. 2114 . depositary. Majority deposited. V. 100. p. 1258. 1437, 1509: V. lOl.p.47.
^15.
g ™88
...............................$109,191,204
$93,589,722
STOCK.— In addition to outstanding stock, $0,421,700 common was on
Net, after taxes................................. $35,280,756 $39,098,988 $29,175,934
Doc 31 1917 hold In trust by Equitable Trust Co. as a part of
Other income— ------- ---------------3,133,604
2,991,317
1,304,867
trust assets ’ under agreement dated July 1 1905. for improvements, acqulsltions or refunding, and $1,128,600 was In treasury (mostly pledged).
Total Income--------------------------- $38,414,360
330,480,802 V. 85, p. 1001: V. 92. p. 1374, 1435; V. 93. p. 229, 588; 1393.
B ’
Interest on funded debt-------------- $6,790 177 $42,090,304
$6,960,493
87,077,552
BONDS, ETC .— General C on sol, and First M tg e . o f 1887 (trustee. Cent.
Rents, &c.........................................
2,218,150
2,135,086
1.731,357 Trust
_____
irust
k
j
o
.
ussue
sau.UUiJ.UOl))
___
Co.
(issue
limited
to
$30,000,000),
see
V.
64,
p.
1088:
V.
78
p
Sinking fund...................................
1.397,031
1.864,287
1,783,800 1446; V. 79. p. 1331: ”V. 80,
84. p. 1550; V ___
~~ p. 1728; V. M
‘ 1._
p.284.
’
8,057,964
Additions, &c...................
8,864,595
3.340,669
Fund for taxes not due----------------------“
~
D.
14.<U,
2,400,000
""
V .S88. p f 4T 1 ;
92,°p.\9l°75: W 9 3 ? p ? 5 8 8 -2v;. 94.JJ.’ 4 87!43In
Mlsc. approp. of income-----------6,000.000
« jC
R w 8’/$
, «Ji’A9
,OTU,UW
U£Uf.V.*Ampt’
. O H U i" 43 had been deposited
------ ---~
Dividends_________________ (18 %) 19,951,038* (8)8,867,128 (8)8.867,128 &
2
m
.5u02
23
with ~1?. *S" Mtge.
Tr.;1^
Co. (Platten
committee.)
In Feb. 1918 $600,000 Ref. & Impt. 4s pledged to secure defaulted notes
Balance, surplus..------- ---------None.
$4,998,715
$7,680,295 were
sold at auction and March 25 19f8 a further $442,000 with other
DIRECTORS— Charles
securities was sold.— V. 100, d. 928. 1229, 1343.
As to Flret Lien Coal bonds see Committoe above and V. 94. p. 629:
V. 9o. p. 1039. 1122, 1393; V. 100, p. 307; V. 105, p. 1617, 2093.
GENERAL FINANCES.— The U. S. Railroad Administration In 1918
sanctioned improvement outlays of $2,185,488: equipment. $2,123,209. and
p. 1003, 1384, 1669. 1747. 1836: V. 108, p. 479.)
v Y o & p 2194DeC' 1 advanced the road $537,000. V. 107, p. 2156. 1344
R-Rf— Operates road from Chicago,
“ADVANCES” AND "STANDARD RETURN,” &c.— See page 5.
!)*•• to Evansville, Ind., also Chicago to St. Louis, leaving main line at
EARNINGS.— 12 mos.(1918-Gross, $26,753,092: net (before$2,667,532
Woodland Junction: and linos to Thebes and Joppa 111 reachfmr various
Jan. 1 to Dec. 31.
11917-Gross, 21,012,173: taxes), 4,613,809
bituminous coal fields, with 216 miles of double track.
g
REPORT.— For calendar year 1917, In V. 103. p. 2008.
Lines owned in Fee—
Miles. Rossvllle Jot. to Judyvllle. In d .. 14
Calendar
Years—
1917.
i 9i 6.
1915.
Dolton to Danville, 111_________ 107 Hunt’s Extension.................
7
Danville. 111., to Brazil, Ind__ 61 Evansville to Terre Haute...........109 Gross earnings.......................................$21,018,985 $16,884,697 $14,871,495
Momonoe Jot., 111., to Brazil, Ind.130 Branches to Mt. Vernon, &o____50
JJet, after taxes......................................$3,786,851 $2,979,601
$2,210,720
Danville Jot., 111., to Thebes, 111.292 Evansville Belt________
1.446,587
650,910
4 Other income......................................... 1.791.074
Joppa Jot. to Joppa. Ill_______ 17 Other_____________________
3
Olssna Jot. to CIssna Park. 111... 11
Gross incom e...........................................$5,577,925 $4,426,188 $2,861,630
Other Trackage, A c.—
Rossvllle Jot. to Sldell Jot., 111. . 35 Pana, 111., to East St. Louis____85
Interest paid............................................... $1,020,360 $1,045,602 $1,042,418
862,679
Peroy Jot. to La Crosse, Ind__ 49 Chicago to Dolton, Oh. So W . Ind. 17 R ents, & c...................................................
820.296
777,052
Milford Jot.. 111., to Freeland. Ind 11 Other lines........... ..............
2,356.793
2.384.795 Not stated
35 A ccrued Interest not pa id____________
Coal Bluff, Ind., to Casey, In d.. 7
Woodland, 111., to Villa Grove__ 62
Balance, surplus.................................... $1,338,092
$169,494
............
Total Dec 31 1917................... 1,131
Findley, III., to Pana----------------20
O F F IC E R S .— Pres., T . D . H eed, C hicago; V .-P ., W . If. L yfo rd . C hi
Branohes to Coal Mines-------------- 9 2d traok_____________ . . . . . . ___ 337 cago;
V .-P ., A lvin W . K rech, N . Y .; Sec., F . R . A ustin, C hicago; T reas.,
Also leases to other companies Rookvllle extension-.' 17'miles'
F . W . Krohn C hicago; F ed. M g r., W . J. Jackson, C hicago.— (V . 108. p .
11016
. S S E S Y ’w ?
£ ? u 13 £ San Francisco In the reorganization o f
rollnquisheu the stock It owned. V. 102 d 896* V 104 n 1*^87 99**^
° - & E I. ownsSlOOOOOO stock Chicago & w iJ te rn In d ia n a .’ P ‘ 387> 2235'
»h?>?f^anoo7 nnn1-Vhos n rSirWeri° ^?fi?.lntedi thoro bo,n« a Coating debt of
ofUhicago Is now recoiver. Theodore O.
KeJ>torJSaS recel v.er Ah° c^ nBahy s coal properties.— See below.
poned^nYirabo^Mav'7&1 9 1 9 V ' m T U Y V l o l ^ S g 6611 ^
1418,
also separate statement below.
P® 4y.^
% 000.000 due July 1 1917 continue to re
1*02Gx?32253 pald’ V’ lb4» p- 2460. See table above and V. 99.
77, 267, 1060.)
★ C H I C A G O & E R IE RR.— (Map Erie RR.)— Owns from M arlon, O hio,
to H am m ond, In d ., 249 miles, and leases traokage over Chicago & W est In d .
to Chloago, 20 miles. Erie R R . Co. owns entire $100,000 stock.
B O N D S .— First Mortgage covers 249 miles o f road, the con tract with the
^Yes^Sr? , , j nd ana, $1,000,000 o f that com p a n y’s stock and
$240,000 stock o f C hicago B elt R y . Interest on incom e bonds is paid
regularly; Erie R R . owns all except $98,000 o f the $10,000,000. See
a b s t r a c t s . V . 51, p . 911; V . 61, p. 750.
E A R N S .— 12 m o s .,(1 9 1 8 ------ Gross, $11,039,823; net (before $1,298,701
Jan. 1 to D ec. 31. \191 7 ------ Gross,
8,794,149; taxes),
2,134,710
„ j r ° r ?uar 0ndln« D ec- 3 11916, gross, $8,335,152: net, after taxes, $2,826.
983; other incom e, $186,525; int.. taxes, & c.. $2,800,638: investm ent in
„ DEFAULTS.— In Juno 1915, under order of Court, all Int. on equip, se
curities had been paid promptly and their principal extended for three years
“ 2 6 ’669- F o d - M g t - A Sto” '
,bujLSP.ftL1
Smfl t<3,t;<3st duQ March 31 1915 and subsequently was ★ C H I C A G O GR E AT W ESTERN R R .— Forms the "C orn B e lt" r o u t e ,
in default. On Oct. 1 1916 all coupons due and overdue on the following radiating
from Oelwein, Iow a, northerly to St. Paul, easterly to Chicago
Issues were paid and subsequent Interest on the same Issues has been regu- and southerly
and westerly to Kansas City and Omaha.
lar>y
*° and Inch Apr. i 19 (as to other coupons still in default see table L i n e s o w n e d ( t o t a l . 757 m i l e s ) . M i l e s .
Operated under agreement.
M iles.
at head of page). (V. 104, p. 1387. 2225' V. 106. p. 85.)
Ohtoago to St. Paul_____________400 Mason CySc Ft.Dodge,3S3 m.,vlz.:
DanvUlo & Grape Creek ist 6s.
ICh. & E. 111. I^lrst Consol. 6s,
Oelwein
to
St.
Joseph..
.
290
Oelwein,
la.,
to
Coun’l
Bl’ffs.
200
Ev. T. H. &Chjncome 6s.
Ev. & T. H. RR. First Consol. 6s.
Bee Creek to Beverly . .
23
Hayfteld,MInn.,to Clarion.Ia. 100
Ch. & E. 111. First Extension 6s,
fEvansville Belt Ry. First 5s.
Sumner to Waverly______ . . . 2 2
Branches
to
Lehigh.
&c____
15
t Foreclosure suits pondlng undor “ General Consol. & 1st M ..” Ref. &
Mantorvllle. Sec., branches_______ 21
Trackage to So. Omaha___
8
Impt. M ., Chic. & ind. Coal M . and Ev. & T. II. Gon. Mttzo. V QQ n
Leavenworth to Kansas City_______ 1 WIs.Minn.APao.RR..277 miles,
119: V 100. p 228. 473 981 1107. 1436; * 101. P 1627!vTl02. p. l M !
Trackage (total, 78 miles)—
Mankato
to
Red
Wing,
Minn.
96
The O. & E. I. coal mtge. has been foreclosed; see below “committees."
St. Paul to Minneapolis ______ 11
Red Wing to Osage, la_____ 118
Chloago Terminals______
. 10
64
Winona to Simpson, Minn__
Protective Committees for Bonds, Stock, Ac.—
Galena Jet., III., to Dubuque, la . 14
Branoh to Clay Banks, Minn.
3
Committee for Ref. and Impt. and other Bonds, except Chic. Sc Ind. Coal
Des Moines Terminals__________ 3
Goodhue to Belle Chester___
6
Evansv. & Ind. and Purch. Money 1st M. Coal Bonds, also Equipment Leavenworth to Kansas City_____ 20
ObHgatlons.—John W. 1 latten (Chairman), Calvert Brewer, Sec.; U. S. St. Joseph, Mo., to Bee Creek______ 9 Total mileage Dec 31 1917..1.496
Mtge. Sc Trust Co., depositary. Majority of bonds deposited Including Other trackage___________________ 5
•^Government
Control.
34
RAILWAY STOCKS AND BONDS
.
RAILROAD COMPANIES
[For abbreviations. A c., tee notes on first pace]
Chicago Sc 111 Midland— 1st M $3,000,000 goId„.x
Chicago St 111 W— Genfnow lst)M g gu red par.CC.xo*
Chicago & Indiana Coal—See Chicago & Eastern 111
Chic Ind St So—See New York Central RR.
Chicago Indianapolis St LoulsvIll^Common St00k"
Preferred 4% non-cumulatlve 55.000.000 ------- - -
Refunding (now 1st) M (54,700.000 are 0s)— .Cex
do $15,000,000 gold\Series O...........
Indlanap St Loulsv 1st M closed (assumed).-U.xo’
First & Oen M $40,000,000 gold Ser A..yg.c»&r*
Equip bonds Ser A z due part semi-annually------- x
do
do
Ser B due 537.000 or $38,000 s -a .-x
Miles Date
Road Bonds
20
1013
1907
018
618
04
018
1897
1910
1900
1910
1911
1911
1913
Par
Value
$1,000
1.000
100
100
1.000
1,000
1,000
500 &<:
1,000
1,000
1,000
Amount
Outstanding
Rate
$2,500,000
820.000
5 g
%
0g
When
Payable
J
J
J
10.500.000
5.000,000 4 in 1918 J
9.700.000 6 & 0 g J
5.300.000
4g J
4g J
b t.172.000
5g M
c3,2 53.000
109.000
4)4 g M
A
188.000
450.000
Ifl F
do
do Ser O due $50,000 s-a.............Ba.xc
Guaranteed Bonds—
_____ . . . „ , , ,
_
Kentucky Sc Indiana Terminal RR 1st M 4)4s— s oe tha t comp any
1.000 2.875.000
1911
Monon Coal Co 1st M g Int only gu s f red HOba xo*
Chicago Indianapolis & St Louis Short Line—oee Cle veland Clnoln natl Chic ago & St Lo
2.327.000
1.000
1905
Chicago Junction R R — 1st M $2,327,000 g red 105.xo
9.000.000
1,000
1909
Chicago Lake Shore St East— 1st Mg gu red text-.xo
735.000
1,000
_ 1910
52
Chic Mem & Gulf— 1st M g red 105 —-Ba.xc*Sr
18,000
—
1911
Eaulo notes due 50,000 yearly..------- -— -----------*
b Additional *478.000 pledged under First & Gen. M . of 1910.
c Additional $1,280,000 held In treasury Dec 31 1 917.
s:g
J
APrlvate
Control.
Last Dividend
and Maturity
[V o l . 108.
Places Where Interest and
Dividends are Payable
Sc D Dec 1 1938
& J July 1 1947
J P Morgan & Co. N Y
St D See text
do
do
St D Dec 31 '18 2%
do
do
& J July 1 1947
do
do
& J July 1 1947
Guaranty Trust Co. N Y
& J Jaa 1 1950
J P Morgan Sc Oo. N Y
& N May 1 1960
& S To Moh 15 1921 Equitable Trust Co, NtY
A015 Oct ’19-Oct ’21 Bankers Trust Co. N Y
do
do
Sc A Aug ’19-Aug ’23
St D June 1 1936
Bankers Trust Oo, N Y
Harris Forbes St Co Ohio
M A S Moh 1 1945
71 Broadway. New York
4 5 g J A D June 1 1969
Bankers Trust Oo. N Y
J & J Jan 1 1940
To July 1 1921
5 **
Refunding Mortgage (closed $15,000,000). see V. 90. p. 1013.
The entire oapltal stooks of the Mason City St Fort Dodge RR. Co. and V.BONDS.—
91. p. 518. 1095: V. 92. p. 1031. 1700: V. 93. p. 44: V. 94. p. 1118.
the Wlsoonsln Minnesota & Paclflo RR. Co. are owned and theirroads oper Oar
trusts outstanding Juno 20 1918, $944,000. as against equipment,
ated under agreement. See those companies. In 1910 acquired entire depreciated
value, $7,363,000. Monon Realty Co. notes, *21.005.
stock of Leavenworth (Kan.) Term. Ry. <S> Bridge Co V. 91. p. 214. 397
U First & Gen. M^. of 1910$40.000.000. (V. 102. p. 1810; V. 104, p. 1044.)
O R G AN IZAT IO N .— Incorp. In Illinois Aug. 201909 as successor par plan Purposes for which $40,000,000 First A Gen. M . Bonds o f 1910 are Issuable.
V. 88. p. 1497. of railway acquired at Judicial sale. V. 89. p. 528, 592.
$3,250,000 sold and $1,280,000 In the treasury Dec. 31 1917— $4,530,000
In Fob. 1919 the company’s annual compensation undor its contract with Reserved— To refund Ref. M . bonds due July 1 1 9 4 7 - . . . . . . 15.000.000
To oxchange for outstanding Ind. Sc Loulsv. Ry 1st M. bonds 1,172,000
tho U. S. Govt, was expected to be $2,953,449. V. 108, D. 783.
820,800
To refund 60% of equipment bonds (40% from income).........
“ ADVANCES” AND “ STANDARD RETURN, &c.— See pago o.
For acquisitions, Improvements, &c., under restrictions _ _.1 8,471,200
STOCK.— The pref. stook ($50,000,000 auth. Issue) was entitled to
Tho First & General M tge covers the entire property, being, in March
non-oum. dlvs. at 4% per ann. to June 30 1914 and to oura. divs. thereafter
at that rate ahead of the oom. stook,and also to a preference as to principal
l
/ Lien onfall Road owned, viz.: A 1st Mtge. on 45 mlloa, a 2nd
and accrued dividends In case of dissolution or liquidation. Tho voting 19(
mtge. on 509 miles, and a 3rd mtge. on 64 miles.
trust expired by limitation on Sept. 1 1914. V. 99. p. 400. 1450.
A Direct Second Mortgage, subject only to the closod Refunding mtge..
DIVIDENDS.— Pref. stock. No. 1. Dec. 1 1915. 1%: May 1 and Oct. 2 (a)(2)
on the leasehold Interests In terminal facilities In Chicago, Louisville
1916, 1% ; Apr. 1917, 1%: none then till Aug. 15 19£8. paid 1% ; Jam. 2 and Indianapolis and In Kentucky & Indiana Bridge, (6) on 10,000 shares
1919, 1% . tho plan being to pay seml-ann.. J. & J. See V . 107, p. 2097. of capital stock of Chicago & Western Indiana RR. and 2.400 shares of
BONDS.— On Dec. 31 1917 $34,221,000 of 1st Mtge. 4s o f 1909 had been capital stock of Belt Ry. Co. of Chicago, (c) rolling stock, &c.. valued at
Issued, $25,383,000 being held by the public and $8,838,000 by the co.
over $7,438,000 (equip, trust bonds outstanding, $1,002,000).
Indianapolis Sc Louisville bonds, entire issue $1,650,000 was assumed
REPORT.— The report for cal. year 1918 may bo looked for In “ ChronDec. 31 1910. of which $478,000 are held In the treasury along with $253,000
Ind. Stone RR. (assumed) 1st M. 5s. V. 105, p. 1305: V. 82. p. 508: V. 83.
ld (6l ) °CorpMncome A c ^ n t % a s Se d ^ n m 8 on Expected Fed'l Compensation) .
p. 1290: V. 102. p. 1810. Also guarantees int. on *2-875,000 Monon Coal
1918.
" 1917.
Tot. op. lnc.def.$127,380
$54,900 Int., rents,&c.$l,591.053 81.574.248 s. f. 1st M. 5s due June 1 1936. redeemable at 110 ($3,000,000 authorized
Pref.
dlvs.-(2%)878,532(1
%)439260
Other income. 3,020,788 2,974,989
1SSE AR N S— { ‘F mos’. HI 918 2ross?$11,017,274; net (boforo $1,725,490
Jan. 1 toDec. 31. U917----Gross:
9,161,898: taxos).
2,679,893
Gross incomo-52.899,408 $2,920,089 Not incomo
$429,223 $1.785407
(2) Federal Incom e Account fo r 1918. Showing Results before Deducting Interest
REPORT.— For fiscal year ended Doc. 31 1917 In V. 106, p. 2009.
— Years ending Dec. 31------- Years ending June 30—
Charges.
_
1918.
1917. „
1910.
1917.
1917.
1910.
1918.
1917.
Oper. rev..$19,118.924 $16,368,323 Other income.$1,268,584 $1,817,133 Gross earnings................. $9,161,898 §8.202.276 $8,724,582 $7,694,734
Opor. exp .. 17.783,097 12,492,412 Hireequip.,&c 1,865,146 2,147,113 Net (after taxes. & c .).. $2,235,642 $2,470,916 $2,543,008 $2,217,285
61,009 2,871,112 Divs.. Sec., received____
338,272
238,879
216.972
375.053
Taxes, &c . .
676,256
674,819 Net Incomo..
1917.
1916.
1915.
Year end. Dec. .31—
1918.
$2,781,887
Total net income____$2,452,614 $2,846,589
Operatingrevenue.” - - $19,116?924 S16.368.323 S16.131.692 S14.119.321 Interest
$954,368
bonds------- \ $1,005,810
950,454 $1,005,031
Operating income______
657,571
3,201,092
4,292,013
3,092,616 Rentals, on
624.290
709.105
&c__ . . . . . . . j
646,702
742,249
Holders of all except $11,000 of the $6,232,000 Wisconsin.Minnesota.&
$892,083
$1,152,506
Surplus
for
dividends.
$800,090
$1,163,806
Pacific bonds accepted In exchange per $1,000 bond $500 each In O. G. W.
199,752
199,752
1st M . 4s and $500 In pref. stock. V. 97. p. 49. 523. 728, 1203, 1217. BlrtdeSdoSc^in(o^i(3)4)34i:i40(4)4)51i;875(3)4)34i;i48(3)4)34i;i29
OFFICERS.— Pres., S .M . Folton: V.-P., Joseph W.Blabon; Sec., W .G .
OFFICERS.— Pres., H. R. Kurrie, Chicago; V.-P.. Morton F. Plant.
Lersch; Federal Treas., J. F. Coykendail; Gen. Aud.. Con. F. Krobs. N. Y.; V.-P., Fred. Zimmerman. Chicago; Troas.. Byron Cassell 608 So.
Fed. Mgr., O. G. Burnham. Presidents offico. Peoples Gas Building, Dearborn St.. Chicago; Sec. & Asst. Treas., F. 8. Wynn, 52 Broadway,
>dams St. and Michigan Boulevard. Chicago, 111.
N . Y. Fed. Mgr., i f . O. May, Chicago, 111.; Fed. Treas., U. T. Evans.—
DIRECTORS.— Samuel M . Felton. John A. Spoor, A. A. Sprague 2d. (V. 108, p. 267.)
Clyde M . Carr, Ohas. H. Thorne and E. A. Cudahy. Chicago: Charles ★ CHICAQO JUNCTION RR.— Owns 3.01 miles of elevated track, con
Steele. E. N. Hurley. New York: E. F. Swlnney, KansM City; John Wash
South Side Elevated RR. with the stock yards. Leased to that
burn, Minneapolis; (J. W . Wattles, Omaha; E. C. Flnkbine, Des Moines; necting
company for 50 years (with right to purchase at cost within 20 yearn) at a
Milton TootleJr., St. Joseph.— (V. 108, p. 267. 783.)
rental covering bond Interest and all expenses. Oapltal stock, $50,000.
ACHICAQO St ILLINOIS MIDLAND RY.— Owns Compro, 111., to Bonds are guaranteed, prin. and Int., by Chicago Junction Rys. A Union
Taylorvllle. 28.4 miles. 8tock auth., $2,000,000; outstanding, $1,000,000 Stock Yards Co.; they are subject to call at 105 after 1910. Form of
aranty. V. 82. p. 568. For 11 months ended Dec. 31 1917, gross,
(par of shares $100), all owned by Commonwealth Edison Co. Bonds out,
393.649. against $2,152,289 for corresponding period In 1916; net, after
$2,500,000; see table above. Equipment trusts June l 1917. $528,878. due
monthly. Year ending Juno 30 1916, gross, $£90,099 net, $88,435: other taxes, def., $186,443, against $279,568. W . J. O'Brien, Gen. Mgr. under
Income, $118,511; interest, taxes, &c.. $202,641; balance, surplus. $4,305. U. S. Govt., Chicago— (V. 107, p. 603.)
For calendar year 1917, gross, $355,063; net, after taxes, $33,810.
+ CHICAQO JUNCTION R Y . — Owns Inner line within the Chicago
UnkmSto^ Yards district. 1L81 m.; side and industrial tracks, 118.58 m.
(V. 93, p. 1599; V. 107, p. 905.)
New York Central Interests acquired the outer belt line, assuming
ACHICAQO St ILLINOIS WESTERN RR.— rrujeci-eu "***«" PW.UW theIn$21907
500.000 bonds. Compensation for Government operation, $916,804;
southwesterly to Joliet, Illinois, with branches, a total of 54 miles, of
other Income (1918 basis), $15,000. Of Government advances
which 17 miles In operation. Willow Springs to Hawthorne. V . 83. p. 491. company’s
to March 31 1919 of $725,000, $500,000 represents 6% secured loan and
Stock, $1,000,000; par, $100. V. 97. P. 1114, 1350. Of theGen. 6s of $225,000
rental
account. Gen, Mgr. under U. S. Govt.. W. J. O Brlen,
1907 ($4,000,000 auth. Issue), $965,000 were outstanding In Jan. 1917
Chicago.— (V. 107, p. 694.)
guar. prin. Sc Int. by Dolese Sc Shopard Co.. Chicago: equip, trusts. $89,890
CHICAQO JUNC. RYS. St UN. STK. YARDS.— See "Industrials."
V. 80, p. 107; V. 88. p. 685. For year ending Dec. 31 1917. gross. $180,291.
agst. $141,100 in 1916. and net surp. after taxes, $10,889, agst. a def. of ★ CHICAGO KALAMAZOO St SAQINAW RY.— See Mich. Central.
$788 . Pres.. W . B. Clark. Office, 108 South La Salle St., Chicago.
ACHICAOO LAKE SHORE & EASTERN RY.— Embraoes 485 miles of
— (V. 97. p. 1356.)
track, connecting the various works of the Illinois Steel Co. and Indiana
★ CHICAGO INDIANAPOLIS St LOUISVILLE RY.— Operates the Steel Co. at Chioago, Joliet. Milwaukee and Gary with diverging trunk lines,
•Monon Route" from Chioago. 111., via Monon. Ind., to Indianapolis, Ind.; and also with steamship lines, stonei quarries, Industrial..establishments.
and Louisville, Ky.f with branches. Total Apr 30 1918. 654 miles, viz.:
Ac.; also reaches the coal fields of 111. and Ind., and Joliet, 111. Stock.
Oper. underTrackage contract— Miles $9,000,000, all owned by the Illinois Steel Oo.. and so by the U. S. Steel
Lines owned—
Miles.
Chicago to Indiana State Line.. 20 Oorp.. which, with Elgin Joliet & Eastern guar, the bonds, prin. and int.,
Indiana State Line to Indian
7 by endorsement. The last named leases the road for 60 yoars from Juno 1
apolis ____. . . . . . . ___ - ______ 162 New Albany to Louisville------. . .
New Albany to MIohlgan City.-.289 Connection to Indianapolis--------- 2 1909. rental covering all charges aud divs. on stock, dependent on earnings.
Seo V. 90. p. 108. Divs. paid in m o , 5% : in 1911, 5% and 2% extra.
Bedford to Swltz City----------------40 Swltz City to west of Victoria------10
4 *12-’ 13, 10%: ’ 13-’14. 7% ; T4-’15. 16%; 15- 16, 10%;
17, 8 % .
Orleans to Frenoh Lick Springs.. 18 Miscellaneous . . . . . -----------. . . .
Bonds are redeemable In whole or In part from Deo. 1 1919 at 110 and int.;
Clear Creek to Harrodsb’g. Ind.. 9 Less— Track north of Dinwiddle,
Ind., not op era ted .....--------- (4)
they are limited to *20.000.000 and further issues of bonds beyond the
Wallace Jot. to Shirley Hill & br. 04
*9,000.000 now outstanding can bo made only for 50% of <wst of property.
McCoysburg to Dinwiddle______ 36
_
. . .
. ....
A lease lor 999 years with Chioago A Western Indiana (of whose stook this V. 88, p. 1372; V. 89. p. 224. 1410.— (V. 91. p. 1446; V. 103, p. 1301.),
oompany owns *1,000.000) gives entrance to Chioago on a mileage basis.
Owns one-third Interest In Ky, A Ind, Terminal RR. at Louisville, Ky: AtCHICAQO MEMPHIS St GULP RR ~ D y e r s b u r g . Tenn.. to
Hickman. Ky.. 52 miles. Stock, common. $520,000 and 0% cum. pref.,
HISTORY.— Suooessor July 1 1897 of Louisville New Albany St Chioago
$150,000. all acquired In 1913 by Illinois Central R R . V . 90. p. 710.
foreclosed per plan In V. 03, p. 922. Suit settled, V. 75, p. 1031.
A dividend of 8% was paid from the earnings of 19 0-11 and credited
In Aug. 1902 the Louisville A Nashville and .Southern Ry. acquired 93%
towards payment of pref. stock. Divs. on pref., 1)4% Oct. 1 1911,
of *10,500.000 oom. and 77% of *5,000.000 pref. stook, on the basis of $78 1912 6% (Q.-J.); 1913, Jan., 1)4%. Nono since to Oct. 1918.
and *90 per *100share, respectively. In their Joint 50-year 4% collateral trust
Bonds ($T0.006.000 auth.) outstanding June 30 1918. $735,000; reserved
gold bonds at par. secured by the stook aooulred. See description of bonds for terminals, Ao., *1.750.000, and remaining *7.515,000 at not to exceed
under Louisville St Nashville. V. 74. p. 1088. 1138: V. 75, p. 28.
"ADVANCES” AND "STANDARD RETURN,” &c.— Seo pago 5.
DIVS. since 1902— l ’04. ’05. ’00. ’07. ’08. ’09 to ’ 13. ’ 14-16. *16. ’ 17.
charges, $3,363; bal,.’ def., $4,992.
On common_________ % f 254 3
3
3
3 3)4 yly.
0
414 3)4
Common dividends. 3 )4 % , June 29, and 1)4% eacj In Dec. 1918, Juno cago!— (V. 90. p. 419.)
and Dec. 1917. On June 13 1918 the 2% prof, dividend was declared as ★ CHICAQO MILWAUKEE St OARY RY.— See page 132.
usual, but no action was taken on the dividend on common stock. V. lUo,
CHICAQO MILW. St PUQET SOUND RY.— See Ohio. M . Sc St. P. Ry.
p. 2559. V. 103. p. 2155 V. 102, p. 2253.
A
p r
., 1 9 1 9 . ]
★ Government
Control.
RAILWAY STOCKS AND BONDS
R A IL R O A D C O M P A N IE S
IF or abbreviations, A c ., see notes on first page. ]
C h ica g o Milwaukee & St Paul— Com stock (see t e x t ).
Preferred stock 7 % yearly not cum S H 6 .2 7 4 .9 0 0 -.
Lacrosse & Daven D lv 1st M (free o f State taxes) P.c*
W ise Val Dlv 1st M sink fund not d ra w n .N B .zo'
Dub Dlv 1st M sinking fund not draw n .N B .zo
Ohio A Pao Western Dlv 1st M (see text) gold .F .zo*
Chicago & Lake Superior Dlv 1st M gold ___F.zo*
Wise & Minn Dlv 1st M g ------------------------------------- Fz
Fargo & Southern first mtge gold assum ed_______ z
Ohloago & Missouri River Dlv first m ortgage.F.zo*
Gen M ifor $150,000,000) gold Series A .U s .x o ’ Ar
do
do
Series A registered_____ x
do
do
Series B ______________xo
do
do
Series B registered_____ :
do
do
Series O gold _____ __xc*
do
do
Series O registered______x
M ilw A Nor 1st M N o M ilw to Gr Bay ext 1913.ro*
Consol mtge extended 1913 (V 96. p 1 3 6 4 )..zc*
xD eb $50,000,000 g ............fAll secured (..F .x c * A r *
Deb 250.000.000 franca— \by the Gen. 1____ Usm.x
xGold ($)bds.call at parall|
and
I
USinxc*
Convert debs text g ______ I Ref. M tge. [ . U s.xc*A r*
Ch MU A Puget Sound 1st M (text) ass__U sxo*Ar*
General and Refunding M . Series A ______ a c * A r *
do
do
convert series B (see tex t)___ c*A r*
C h ic a g o & N W — Com stook $177,539,880 auth___Tr
Preferred stook (not cumulative) see te x t_________ Tr
Milw Lake Shore A W cons M (now 1st) gold.C e.zo*
Michigan Dlv 1st M (for $3,000,000) gold -.C e.z o*
Ashland Division first mortgage g o ld _____ Ce.zc*
E xt & Im p M for $5,000,000 g s f not drawn Ce.zc*
Marsh E xt 1st M $600,000 ($15,000 p m l.U n .zo*
8Ink fund bds o f '79 ($15,000 p m) red 1 05 -F .vcA r
Sinking fund debentures 1933____________U n.zc*A r
30-year debentures________________________U n .z c’ Ar
Extension 4s $20,000,000 ($20,000 p m ).U n .z c A r
Miles Date
Rond Bonds
188
161
347
1,116
17<J
196
117
78
6.34-1
0.344
0.344
6.344
6.344
6,344
118
421
9,895
9.895
9.895
9.895
2,326
9.895
9.895
7.946
7.946
421
82
40
693
40
1,641
—
Par
Value
Amount
Outstanding
$100 117.406.000
100 115.845.800
1,000
2,496.000
1879
1,000
1880
1.430.000
1.000
1880
4.123.000
1881
1,000 25.334.000
1.000
1,360.000
1881
1,000
4,755.000
1881
1.000
1.248.000
1883
1.000
1886
3.083.000
1.0001, 48,241.000
1889
1.000/
1889
8.950.000
1889
l.o o o t
1.000/
1889
1889
1,000 142.597.000
1,000 f
1889
„
1.000
2.117,000
1913
1,000
5.092.000
1913
1909 1.000 Ac 33.286.000
1910 500 fr Ac 13.076.496
1916 1,000 A c 35.100 000
100 Ac 49,980.800
1912
100 A c 26.175.000
1909
100 A c b43.089.000
1914
100 A c 29.129.8)0
1915
100 145.157,408
100 22.395.120
1,000
5.000.000
1881
1.000
1.281.000
1884
1.000
1.000.000
1885
3.988.000
1889
1.000
1,000
400.000
1892
l.OOOAo 10 430.000
1879
8,946.000
1883 1,000 Ao
1891 1.000 Ac 10,000.000
1886 1.000 Ac d 17,662.000
Bate
%
When
Payable
APrlvat*
Control.
Last Dividend
and Maturity
4)4 in ’ 17 M A S Sept 1 ’ 17. 2
M A S Sept 1 ’ 17. 314
7
J <Jb J July 1 1919
5
J A J July 1 1920
6
6
J & J July 1 1920
J & J Jan 1 1921
5 g
A J July 1 1921
J
5 g
J A J July 1 1921
5 g
J & J Jan 1 1924
6 g
J <5j J July 1 1920
5
J do J May 1 1989
/
4 g
May 1 1989
1 4 g
Q— J
J 3 « g J A J May 1 1989
May 1 1989
j
3 )4 g Q — J
J M a y 1 1989
l
414 g J A
M a y 1 1989
l 414 g
Q—
J A D June 11934
414
J A D June 1 1934
414
4 g
J A J July 1 1934
J A D June 1 1925
J 4
J A D June 1 1925
1 4 g
414 g J A D June 1 1932
J A J Jan 1 1949
4
414 g A A O Jan 1 2014
K A A Jan 1 2014
5 g
7 In 1918
Q— J
A pr 1 1919 1 M
8 In 1918
A pr 1 1919
a—J
6 g
M A N May 1 1921
6 g
J A J July 1 1924
M A S Moh 11925
6 g
F A A Feb 1 1929
5 g
A A O Oot 1 1922
5
5 A 6 A A O Oot 1 1929
M A N May 1 1933
5
5
A 15 A O Apr 15 1921
4
F 15 A A Aug 15 1926
35
Places Where Interest and
Dividends are Payable .
N Y O ffice 42 Broadway
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
do
P0
do
do
do
do
do
do
Paris and L on d on
N Y office 42 B roadw ay
do
do
do
do
do
do
do
do
Co’s offloe 111 B ’w a y J IY
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
b Also In treas. D ec. 31 '18. $117,217,200. c , d , e. Inclu dos bo nds In sin king fund F eb. 28 '19 , v iz.: O f **c" $239,000; o f ” d ’ ’ $970,000.
x Secured by pledge o f French loan debentures, whlc h In tu rn are secured by the Gen . A R ef. M tge.
★ C H IC A G O M ILW A U K E E & ST. PA U L R Y .— (See M a p .)— Operates
from Chicago westerly to Seattle and T acom a, W ash., with numerous brs.:
Road—
Aliles. I Road—■
Miles.
Lines owned D ec. 31 1918 (o f
(2d. 3d A 4th tracks___________ 1,126
which 110 m . owned jo in tly ).9 ,9 1 0 )Trackage(Incl.2d & 3d tra ck s). 363
In 1916-17 built from Great Falls to Agawam , M on t., 70 miles, and
Grass Range to W lnnett, 23 miles. Partly built, Blackfoot June, to Clear
water, 22 miles. The electrification o f 440 miles o f the Puget Sound main
line, contracted for In Jan. 1913, was com pleted in Feb. 1917, and having
proved very successful, is being extended over tho Cascado M tns. Tho
, electrification o f the lino between Othello and Seattle and T a com a, 217 m .,
com m enced in M arch 1917, will probably bo com pleted in 1919. V . 104,
P . 451, 1489. 2116. See V. 96, p. 135: V . 97. p. 1821: V . 101. p. 845.
V . 103, p. 1687; V . 105. p . 1 9 9 8 ., V . 106, p . 2005; V . 107, p . 802; V . 108,
p . 682. (In 1918 27 miles o f track was taken up . V. 108, p . 169.)
H IS T O R Y , &o.— Org. May 5 1863 and on F e b .11 1874 took present name
Chicago Milwaukee & Puget Sound R y. (see m ap), form ing P acific
extension, was acquired In fee Jan. 1 1913, Its bonded debt being assumed;
the stock ($100,000,000) is held alive merely as a munim ent or title. V .
96, p. 62: V . 95, p. 1683; V . 97, p . 819.
Seattlo Port Angeles A W est.. 86 miles, was opened In 1915. V . 100. d .
1751; V . 101. p. 938. 1552; V. 106, n. 2005.
v
Also owns all stock o f T acom a Eastern R R ., T acom a to M orton A c.,
93 m. V . 91. p . 651. Those are operated Independently.
C O M P E N S A T IO N A N D "A D V A N C E S ," A c .— (See page 5 )
President Calkins anuounccd on April 12 (V . 108, p. 1610) that the com
pa n y’s com pensation for the use o f Its property b y tho U . 8 . G o v t, had been
fixed at $27,946,771, but that onlyj $6,275,000 o f this had been paid over
to it during tho year. Obligations were therefore Incurred as follows:
(а) Loans to m eet interest paym ents and other corporation ob li
gations: From W ar Finance C orn ., $8,500,000; N . Y . banks,
$4,500,000: U. 8 R R . A d m in., $857,000; to ta l........................$13,857,000
(б) Duo tho U . S. R R . A dm in, for open accounts to bo deducted
from the 1918 com pensation------------------------2 912 846
(c) From W ar Finance C orp. to retire trust certificates o f Puget
’
’
Sound & W lllapa Harbor R y . C o ., due Juno 1 1 9 1 8 .............. 3,000.000
(d) The U . 8 . K B , A dm in, also charged tho com pany on ac
count o f additions and betterm ents during 1918
10 872 712
Furtherm ore, tho U . S. R R . Adm inistration had a llocated 'to the com
pany 100 heavy typo M ikado engines and 3,000 box cars (1,000 o f which
to bo built in the com pany s shop at M ilw aukee), the cost o f which the com
pany is obliged to m eot. [Probably over $13,500,000.] C om pare incom e
account below.
CAPITAL STOCK.— The pref. stook has a prior right over the com. stook
to a dividend of not over 7% from net earnings In eaoh yew, but If not
earned it has no cumulative right. After 7 % on com’., both share pro rata.
DIVIDENDS.
1 ’95. ’96. ’97-’00. '01. ’02-’ l l . ’ 12-T4. ’ 15-T6. '17.
Onoommon .........%J 2
4 5 y’ly
6 7 y’ly 5 y'ly 434 5 414
In April 1919 no dividends had been paid on either stock since Sept.
1917. T he p ref. shares received 7 % per annum continuously from 1867
to Sept. 1917, but are non-cum ulatlvo. See earnings below and third
paragraph above.
BONDS.— The 99-year General and Refunding Mortgage of 1913 Is an
(bearing Interest not In excess o f 6 % ) reaches $896,000,000. further Issues
must be limited to 7 o% o f the cost o f property placed under the m ortgage.
The m ortgage Is secured by a direct lien on all the properties. Including
about 9,830 miles directly ow ned, 110 miles Jointly owned, terminal proper
ties In C hicago, Milwaukee, Seattle, T acom a, Spokane & other cities, and
the entire equipment, subject to $179,673,000 prior liens ($18,331 p. m .).
to retire which an equal am ount o f bonds Is roserved, $132,007,200 being
also reserved to retire debentures and convertible bonus, which are equally
secured thereunder. Nono o f th ep rior liens m ay bo extended and no further
amounts Issued except gen. M . for refunding purposes, so that eventu
ally the Gen. and Kef. bonds will becom e an absolute first lien. Further
bonds m ay be Issued for Improvements, betterments, acquisitions, construc
tion. equipment. A c. O f the bonds. $154,489,500 have been Issued In ex
change for Ohtc. M ilw . A Puget Sound 1st 4s (leaving only $26,175,000 o f
the latter outstanding). On D oc. 31 1918 the treasury held available $ 1 17.
217,200 o f the n o v ro o n a a Issued for said exchange and against lm pts., A c.
» • ,6 0 2 - 1583!
“ ■ -•
In Jan. 1915 $29.089,/0 0 G en. A R ef. M . bonds, having been underwrltten, were offered to stockholders at p a r. This block o f bonds la con vertl-
P if W H S E 8i?:k9 o S .^ ^ .1f e 2 b8f.lnnln* Feb- 1016- v*100>
A b s tra cts 0|dM m ortgage^ V . 45. p . 114. 144, 212; V . 48, p . 830.
The General mortgageo f 1889 (see a b s t r a c t In V . 48. p. 830: V . 96. p. 1088.
1156; V. 97, p. 175, 520; V. 98, p. 386; covors the entire railway property
and franchises o f the com pany (therein d escribed), subject in A pr. 1917 to
$49,453,000 prior liens which aro paid as they mature. V . 89. p . 1279,
1541, 1596, 1667; V . 103, p . 1114. M il. A N or. R R . consols, see V . 107,
p . 2 0 9 /.
The $33,288,000 4 % 25-year debs, o f 1909 are secured b y new G en. and
R ef. m tge. V. 88. p. 1659; V . 89. p . 1223. 1346.
In M ay 1910 sold to a group o f French banks 250,000,000 francs 15-year
4 % debentures, equally sec. by General and R et. M tge. V. 90. p 1424.
1489. 1554; V. 91, p . 38, 1710; V . 98, p. 303. Dollar bonds were Issued In
1915-16 to replace 4 % 15-year French loan bonds whon and as surrendered
by owners. These bonds are securod by an equal face value >f the French
bonds (which In turn are secured by Gen. A Ref. M . o f 1914 equally with
other bonds), on the basis that 600 francs equal $96.3533. V . 102, p. 344:
V . 101, p. 2143; V. 102, p. 1625.
The $49,980,800 434% debentures o f 1912 are convertlbls at par Into
com m on stock after June 1 1917 and prior to June 1922, at the option o f the
holders, within 10 days after any dividend shall becom e payable on the
com m on stock and redeemable at 105 and lnt. after Juno 1 1022 on 90 days'
notice. T hey are secured by new G en . and R ef. m tge. V . 94, p . 1056.
1118. 1565; V. 95. p. 744. 1472: V . 97. p . 364: V . 98. p. 303. 452.
O f the $ i8 1 ,664,500 C hic. M ilw . A Puget Sound R y. 1st 4s assumed on
purchase o f road, $27,175,000 were sold and $154,489,500 were exchanged
ror C . M . A St. P. Gen. A R ef. bonds and deposited under that m ortgage.
V. 92. p . 593. 659, 725, 1374; V . 93. p. 1386. 488; V . 94, p. 767. 1185; V . 98.
p. 1692. Bonds cover road, terminals and equipm ent, and run to m aturity.
E A R N IN G S .— 12 m o s.,/1 9 1 8 ____Gross. $132,894,455; net, $10,698,350
Jan. 1 to D ec. 31.
(1917____ Gross, 113,739,202: net. 28,543,238
R E P O R T .— For 1917, in V . 106, p . 2005. F or 1918, V . 108, p . 1610:
Incom e, & c., fo r Year Ended Dec. 31 1918 (.Compare “ Compensation” above).
Annual com pensation from U . 8. R R . Administration for 1918,
including $440,000 extra com pensation_____________________$27,946,771
Rentals received— miscell. $234,214 Miscellaneous interest___" $414,431
N on-oper. p ro p ‘ty incom e
251,240 From sinking funds, A c .
79,039
170,344 Revenue prior to 1918___ 1,143,676
D iv s., securities ow n e d ___
Interest, securities o w n e d .
9,295
T otal incom e for year 1918________ ............................................ a $30,249,011
Deduct— ln t. on b o n d s ..$16,767,186 Interest on notes________
$663,084
C orp . organiza’n exps___
163,215 M iscell. incom e chgs____
153,953
W ar taxes accrued_____ _
376,628 T o sink, fund reserves___
147,104
M iscell. rentals p a id ____
27,520 Expenses prior to 1 91 8 -- b 5 ,583,965
E xp. separ. oper. p ro p ’s . .
124,845
N et corporate in com e___________________ ______________________ $6,241,510
a A b N et chargo o f $4,440,289 in fa vor o f U . 8 . R R . A dm in.— E d.
Calendar Years—
1917.
1916.
1915.
Average miles operated_____________
10,257
10,196
10,073
Passenger earnings___________________ $79,957,271 $79,648,513 $69,107,246
Freight earnings....................................... 21,329,9-16 19,756,835 17,981,206
M all, express. A c ., earnings_________ 12,451,985 11,204,340
9,959,599
T otal earnings....................................$113,739,202$110,609,689 $97,048,051
M aintenance o f way and s tr u ctu re s ..$10,953,309 $12,516,338 $9,309,098
Maintenance o f equipment___________ 22,015.201 17,533,448 14,912,225
Transportation and traffic____________ 49,887.089 42,269,975 37,291,252
T a x e s ........................................................... 6.517,212
5.480.119
5,034,404
M is c e lla n e o u s ........................................
2,340,365
1,445,289
658,958
N ot earnings..........................................$22,026,026 $31,364,518 $29,842,114
T o t. net in c .,ln c l. "m ls c.” ................ ..$ 2 3 ,8 4 5 ,3 7 9 $34,164,812 $34,202,385
Deduct— A ccr’d lnt. on funded d e b t . .$16,596,624 $15,595,311 $15,367,921
Hire o f e q u ip m e n t.._____ _________
1,136,242
1,030,123
679.759
Rents paid..................................................
1,026,148
1,054,652
1,066,716
M iscellaneou s............................................
617,734
416,467
530,184
Preferred dividends ( 7 % )...................... 8,109,206
8,109.206 8.109,206
Com m on dividends....................... (414 % )5 ,283,270 (5)5,870,300(414)5358254
Balance, surplus or deficit______ d e f.$8,923,844 sr$2.088,754 sr$3.190.345
O F F IC E R S .— Chairman,
..................C hicago; P res., R . M . Calkins;
C hicago; V lce-P res., E . D . Sewall, C hicago; V .-P res. and A sst. Sec. and
A sst. T re a s ., C . B . Ferry, N . Y .: T rea s., F . B . Sim pson; Federal T reas.,
A . G . Loom is, C hicago; S ec., E . W . Adam s, M ilwaukee; C o m p t., J. W elch,
C hicago; Federal M anager, H . E . B yram ; General M g r. under U . S. G o v t,
o f lines west o f M obrid ge. 8 . D ., H . B . E arllng, 8eattle, W ash.
D irectors.— R . M . Calkins, W illiam R ockefeller, Samuel Fisher,
D onald G . Geddas, John A . Stewart, Percy A . Rockefeller, W alter P . Bliss,
E . S. Ilarknoss, John D . R yan, N ew Y ork; J. Ogden A rm our, Stanley
Field and A . J. Earllng, o f C hicago, and L . J . Petit, o f M ilwaukee. N . Y .
office, 42 B roadw ay.— (V . 108, p . 170, 267, 479, 682, 972, 1610.)
★ C H IC A G O & N O R T H W E S T E R N R Y .— (See M a p .)— Operated
system o f roads uniting C hicago, 111., with Om aha, N e b .; St. Paul, M inn ,
with the great wheat belts o f D akota, N ebraska, A c ., and with the mining
regions o f M ichigan and the B lack Hills, 8,095 m iles, Jan. 1 1918, v iz .;
Road owned in fee—
M iles.
M ile s.
M ain lines, A c _________________ 7,932 James R iv A N or W est(leased ).
39
Entire slock owned—
Iowa Southern_______________
14
W o lf R iver Valley______________
2 Sundry trackage____________
77
D e Pue Ladd A East, (le a s e d )..
Second track________________ 918
Belle Fourche Valley (leased)__
A lso has large Interest in C hic.
M acoupin C ounty E xte n sio n ..
St. Paul M inn A Om aha_1,749
Through passenger service between C hicago and P acific coast is m ain
tained via Union P acific. V . 93. p . 1667; V . 94, p. 697.
H IS T O R Y . * o .— A Vanderbilt line (V . 75. p. 1086) organized In 1859.
O A P IT A L ST O C K .— Of the oom . stook, $2,342,232, and of the pref. $3,
834 additional to amounts shown as outstanding in table above were In
treasury In Jan. 1919. Pref. stock has prior right to 7 % ; then com . 7 % ;
then pref. 3 % : then com . 3 % ; then both classes share. V . 80, p. 1482; V .
104. p. 451. 863.
D e c .31 1917 U. P . system (Oregon Short Line) owned $4,420,600 stock,
and Ch. A N . W . owned $4,171,500 Union P acific pref. stock
D IV ID E N D S —
\ ’ 86-’93. ’94. ‘95. ’96-’ 99. ’00. 1901.
190 2 -A pr’ 19
Common ------------------f. 0 y ’ ly
3
4 5 y ’ly
6
6
7 yearly
P re fe rre d ------------------J---------------------- 7 yearly----------------------— 8 y ’ly—
B O N D S .— General Mortgage.— See A b s t r a c t In V . 65, p . 1175. A uthor
ized issue Is $165,000,000 (U . S. T ru st C o ., trustee.) V . 65, p . 69, 111,
571: V . 75, p . 980; V . 88, p. 280, 563. In Jan. 1919. there was outstanding
$31,316,000 G en. 3 H s , $30,554,000 4s and $28,472,000 5s. including
$10,500,000 5s sold in Dec. 1918. V . 107, p . 2289. O f the balance o f
$74,658,000 bonds, $60,303,000 were reserved A pr. 1 1919 to retire
$41,332,000 prior liens and tho debentures due in 1921 and 1933, and the
remaining $14,355,000 bonds are reserved for im provem ent^ or additions.
Including equipm ent, but not exceeding $1,000,000 in any one year.
Outstanding Generals are free from all taxes except $8,054,000 4s. and
$28,472,000 5s stam ped "Federal Incom e tax not assumed b y C o ." V. 91,
p . 1385; V . 80, p . 1489; V . 92, p . 117, 1178; V . 93, p . 1667; V . 98, p . 1459.
1536. 1608, 1993; V . 99, p . 1748; V . 100. p . 1078; V . 102, p . 608; V . 1031
p . 493; V . 106. p . 2756: V . 107, p . 2289; V . 108, p . 877.
The Sinking fu n d bonds oCl879 are secured by deposit In trust o f $12,860,000 o f 1st M. bonds at $15,000 per mile on subsidiary lines, the m ost 1m-
CHICAGO & NORTHWESTERN
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RAILWAY STOCKS AND BONDS
R A IL R O A D C O M P A N IE S
iP ot abbreviations, A c ., see notes on first page)
M iles Date
Road Bonds
C h ic a g o & N orth W estern (Con!—
Gen gold bond M $165,000.000................ U s.xc*A r 5 . 0 3 8
do
do
do
r e g iste re d ..x 5 .0 3 a
do
do
do
x and y o* 5 .0 3 a
do
do
d o x and y reg istered ., 5 .0 3 a
do
do
do
yc*&r 5 , 0 3 8
Mllw & State line 1st M g gu (V 88, p 230)_F.xo*A r
60
O A N W equip tr 1912, Ser A , $300,000 yly F .zc*r
__
do
d o ser. B $300,000 y r ly ______________ z
...
__
do
d o ser. O $400,000 yrly see text. F.zc*
d o Issues 1913-17 In series due 1-10 y 'rly -F c*
—
Branch Line Bonds Assumed
Boyer Valley R y 1st M g $16,000 per m lleF.zo’ Ar
90
Minn A la R y 1st M gold $16,000 per m lle.F.zo*& r
119
Mankato & New Ulm 1st M gold $416,000-F.zo* Ar
26
Prlnoeton A Northw 1st M $2,100,000 g old .F .zoA r
105
Peoria A Northwest 1st M $2,125,000 gold .F .z oA r
85
Sioux City & Paclflo 1st M gold $4,000,000-F.zo& r
125
Minn & So Dak 1st M gold $528,000.................. F.zo
33
Iow a Minnesota A Northwestern 1st M g __F.oz*A r
195
Mil Sparta & N W 1st M g $15,000,000 guFxo*&r*
179
Des Plaines Valley R y 1st M $2,500,000. F.xc*A r*
__
Manlt Gr B ay& N W 1st M g gu (V88, p230)F.zo* Ar
114
St Paul East G r T rk 1st M g g u ______ xc*Ar*
50
S t L P A N W M g guar (V 97, p 1203) ..F .y c * r *
115
Frem Elk A M Voons M $25,000 per mile assumed .2 1 , 1 7 0
Chic Peo & St L RR— PrlorllenM g c a lla t 107)4 E q.xc*
235
Gen and Refundlpg M $15,000,000 gold red t e x t -.x
235
Equipm ent note? Series A duo $59,000 yea rly..........
...
Chic Riv & Ind— 1st M gold guar p A 1______ MC.xxc*
--C h ic a g o R o ck Isl & P ac—
N ew com m on stock $75,000,000____________________
7 % p f stk call 1051(5% cum ) same p f as to assets_
__
6 % p f stk call 102)divs after 1% on 7 % prof______
...
General (now ls t )M t g e $100,000,000 g o id .B a .x o ’ &r 3 , 2 5 2
First A Rer M $163,000,000 g .....................Ce.xc*Ar Text
C ol T rust gold notes callable (all) at p a r ..B a .x c
—
Par
Value
Amount
Outstanding
When
Payable
B ill
%
Places Where Interest and
Dividends are Payable
N o v 1 1987
N o v 1 1987
N o v 1 1987
N o v 1 1987
N o v 1 1987
J an 1 1941
J u ly ’ 1 9 -1 9 2 2
O c t ’ 1 9 -1 9 2 2
J u ly '1 9 - '2 3
D u e 1 -lO t h y ’ ly
C o ’s o f f i c e , l l l B ’w a y ,N Y
uo
do
do
do
do
do
do
do
do
do
Farmers L Sc T r C o , N
do
do
do
do
do
do
D eo 1 1 9 2 3
June 1 1924
O ot l 1929
Jan 1 1926
M oh 1 1926
A A u g 1 1936
J Jan 1 1935
J Jan 1 1935
8 M ch 1 1947
8 M ch 1 1947
J Jan 1 1941
J Jan 1 1947
J J u ly 1 1 9 4 8
O O ot
l 1933
H M c h 1 1930
D D e c 1 19 .39
N N o v 1 1 8 t o '2 3
O O ct 1 1925
Co’s office. I l l Broadway
1 0 0 0 A o \ $ 3 1 ,3 1 6 ,0 0 1 ) /
1000 A o /
1
l.O O O & c l
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5
s e m l-a n
1898
1899
1899
1901
1901
1901
1900
1900
1912
1912
1906
1913
1913
1883
1900
1909
1913
1911
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314
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1898
1904
1919
______
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1 ,0 0 0 A c 6 1 .5 8 1 0 0 0
l2 J
5 0 0 A<* a l 3 6 1 2 2 0 0 0
A
4
1 ,0 0 0
F
4 ,5 0 0 ,0 0 0
6 g
A
A
A
A
A
A
<Sc
cfc
A
A
A
A
Sc
A
A
A
&
A
A
A
A
37
Last Dividend
and Maturity
1897
1897
1897
1897
1897
1906
1912
1912
1912
1917
g
g
g
g
g
g
g
APrivate
Control.
D
D
O
J
S
D e c 3 1 '1 8 3 1 4
D e c 3 1 ’ 18 3 %
J Jan i 19 88
o Apr 1 1934
A F eb 1 1922
M ch ’ 18 coup not paid
Juno 1914 cou p not paid
Merch N at Bank. Boat
First N at Bank, N Y
do
do
Now Y ork
Includos In sinking fund F eb. 1919—
n$160.000: <>$74,000; p a ll in s. f.; rSllO.OOO: u $ 2 6 2 , 0 0 0 ; v $ 1 , 0 0 0 .
_ a Includes $41,181,000 In treasury D ec 31 '18. or pi edged as c o l l a t e r a l .
portant being described In “ Supplem ent" of May 1894
Of the sinking fund
Donds of 1879, $5,079,000 are 6s: the sinking fund Is at least 1% o f out
standing bonds, wnloh are subject to oall at 105, and through Its operation
those outstanding have been reduced from $15,000,000 to amount In table
Tne Extension bonds of 1886 are secured by deposit Intrust of first m ort
gage bonds at a rate not exceeding $20,000 per mile. Included In the collat
eral July 1 1910 were $10,675,000 Fremont Elkhorn & M o. Valley lsts and
$2,5GO.0OO W yom ing Central lsts (consolidated with F. E . & M. V .), &o.
The Fremont Elkhorn A Missouri Valiev consols have a nrst Hen on 1,241
m llis (Frem ont, N eb ., to D eadw ood, S. D ., and branches to Hastings,
A lbion, A c .); but besides the amount o f Issue given as outstanding In the
table, $10,675,000 (along with $2,560,000 W yom ing Central firsts, a F. E .
A M . V . Issue) are held as part collateral for Extension bonds o f 1886.
Milwaukee Sparta A Northwestern Hu. lsc M . bonds (assumed in Anrll
1912), road merged in O. A N . W . V. 94, p. 416, 1056, 1185. In Jan
1913 sold $2,500,000 Dos Plaines Valley R y. (assumed M arch 1913) and
In F o b .1913 $1,120,000 St. Paul Eastern Grand Trunk R y. guar. 414s and
In O ct. 1913 $10,000,000 St. L. Peoria A N . W . R y . guar. 5s (assumed)
V .96,p.201, 789: V .97.P.1203: V .98.p.999: V .99,p .829: V .lO O p . 1671
Equipm ent trusts neld b y co . and duo from trusteos in Fob 1910Issue 1913—
I Issue 1917—
7 oh nno
Sorles “ D ” ______________ $2,000.0001Series “ G ”
Series “ E ” ........................... 4,365,000 Series “ H ” _ .................... 3 600 000
Series “ F ” ............- ............. 1,035.000 ISeries “ I ” ......... I I I " I " N o t Issued
“ A D V A N C E S ” A N D “ S T A N D A R D R E T U R N ,” & c — (See page 5 )
T he contract with the Governm ent for the operation o f the property was
approved and finally signed in O ctober 1918, allowing the com nanv a
com pensation o f $23,364.028 .annually. In addition to this su m P“ othe?
Income * which this com pany is allowed to retain based on the recnints for
1917 was estimated at $2,850,000. V. 107. p. 1191 10 0 0 °V 10 » n Bt 7
E A R N IN G S - 1 2 m o s.. 11 9 1 8 .. .. Gross.1$127,295,678; net, $ i7 797,106
Jan. 1 to D ec. 31.
11917------ Gross, 108,264,983; not, 29,505,995
R E P O R T — For fiscal year ending D ec. 31 1917. see V .106 p 1336 1358
1917.
1916.
1915
Operating re v e n u e s ......................---$ 1 0 8 ,2 6 4 ,9 8 3 $97,978,844 $83 754 447
N et after taxes. & c................................ $23,815,406 $27,835,731 $22,099,767
Dividend Incom e......................................
1,826,564
1,547,632
l,6 t2,23 2
Other incom e.............................................
1,669,481
1,411,541
1,369,321
Gross incom e........................................ $27,311,451 $30,794,904 $25,081,321
ontals. &
A cc----------------------------------------____________________________SI$1,275,125
9.7h 19K S 1$1,057,671
nt7 S7I
a m 100
Rentals,
$1,049,122
Interest on funded d e b t--------------------- 8,911,295
9,368,309
9,338,621
Sinking funds - - - - - - - - - - .....................
170,882
199,575
208,486
Preferred dividends ( 8 % ) ----------------1,791,600
1,791,600
1,791,600
C om m on dividends ( 7 % ) ----------------9,897,367
9,108,015
9.108,015
Balance, surplus....... ............................ $5,265,183 $9,269,735 $3,594,477
O F F IC E R S .— M arvin Hughltt, Chairman; Pros., W. II. Finley, Ohid‘
R . M cCullough, Marvin Hughltt Jr. and
E . M . Hyzer (V -P . & Gen. C ounsel); Sec., .1 D. Caldwell, Chicago; Troa* .
M d ^ F ^ e r a f’T reas^rA ^ B r.aJ o i ^ >
,V'bh lcago^'e<^0ra^
F .^ V a n d T r W l t ' H a ^ o M 6
S*
..C h icag o; W . K . Vanderbilt,
Vrl 108 Jp ” 267A8 7 7 f l M l !)’ SamUel A ’ ^ yn d o.— (V . 107. p. 1669; 2289;
★ CHICAGO P.LHKIA & SI LOUIS R R .— R O A D .— Owns from Pekin to
Granite City, TIL. wui miles; Granite City to Madison, 2 miles; Madison to
Bridge Jot.. 3 m .. Havana to Jacksonville, 111., 42 rn.; branch. Lookhaven
to Grafton. 8 m.; total owned, 23 1 m .; trackage. Pekin to Peoria, 9 ra.;
linos operated. 1 m ., other trackage. 11 m .; total. 255 miles.
i
1,,!ri 9 an <>/.
1541, o f railway foreclosed N o v . 18
1912.
L|,5- <^0 J 'd y 31 1914 Pres. Bluford Wilson o f Sprlngfielil,
H l-^ n d
s4°ooo^ooo ^
wnr'’ appointed receivers.
V. 99,
’ ’A D V A N C E S ” A N D “ S T A N D A R D R E T U R N ,” & c.— See page 5.
(?a.PriZT L' eS
Sidney O . Borg (C hairm an), J. N . B ab
cock , 37 Wall S t.. .Sec., E q. j r. C o ., N. Y .. depositary. V .99.p.673, 1627.
— Frederick J. Usm an (C hairm an),
and Alfred Shepherd. Graham Adams. 30 Broad S t.. Seer,; Bankers Trust
C o.. N . Y .. depositary. M ajority deposited. V. 99. p. 1213. 1450, 1672.
U ef- M - bonds ($15,000,000 a u th .). outstand’909, $2,000,000 reserved to refund prior lien mtgo. bonds,
$160,000 served
retire same, and $700,000 reserved for extensions
equipment and improvements; $1,100,000 bear only 3 % interest for the
first six years. The coupons due June 1914 were defaulted
V. 99. p. 118
{MThe Sept. 1914 coupons on Prior Lien 4 )4 s were not paid prom p tly but
those and subsequent coupons were m et about 6 months later within the
grace period. In Jan. 1919, how ever, the M arch and Sept. 1918 poupons
still remained unpaid. V. 108, p 378
1
Notos to Car Trust Realization C o. for $140,132, payable on Installments
out o f surplus earnings. Equipm ent notes o f 1913, see V. 102, p. 1625.
E A R N IN G S .— 12 m o s .,(1 9 1 8 ..G ross, $2,147,466; net (bef. df$393.698
Jan. 1 to D ec. 31.
11 9 1 7 ..Gross, 2,191,451;
taxes),
323,254
R E P O R T .— For half-year end. D ec. 31 1916. In V. 105, p. 1 93. showingNpt afl Tax. Oth.Inc. In t.,iU .
Balance.
...........*244.220
3127.071
$7,861
$87,887 sur.$47.045
(,fl ,? os’ ) -7 ------- „ 886,559
142,310
6.781
96,237 sur. 52.854
1917 (cal. year)----- 2.192,287
248,232
......
1916 (cal. year)----- 1.810,460
244,767
________ _ ____ H ” ”
Pres., Illurord W ilson, Springfield, HI.; Sec. A Aud . H. W . Berger
Springfield, 111.; Treas. F J. W ilson: Federal M g r., W . G . Bierd, C hicago.
— (V. 105. p. 1893: V. 108, p . 267, 378.
★ CHICAGO RIVER & INDIANA RR. — Owns 15-71 miles o f term inal
road; A tch. T op . A S. F . trackage, 9.11 m .; P . C . C . A St. L . R y. trackage,
7.43 m .; Ind. H. B. R R . trackage. 3.12 m; trackage through Union Stock
Yards, 9.21 m .: total operated, 44-58 miles.
Stock, authorized, $1,000,000; outstanding, $500,000: par. $100.
Chicago Junction R ys. & Union Stock Yards C o. (see M iscellaneous C om
panies) guarantees the bonds, prin. and in t., b y endorsement. V . 101. p.
773. Dividends 1913. 8 % ; 1915 to 1917 6 % yrly. O f the 1st 5s ($2,000,000
auth. issue), $765,000 have been sold (V . 101, p. 773). T hey are red. at
105. beginning O ct. 1916. Additional bonds m ay be Issued for 66 2 -3%
o f the cost o f additional properties and franchises, but only when annual
earnings are twice the Interest charges. Including bonds then to be issued.
Compensation for Governm ent operation, $108,525; com p any’s other
income, $28,353; total, $136,878; interest & other deductions, $60,906;
com m on divs. ( 6 % ) , $30,000; bal., sur., $45,972.
Year ending D e c. 31 1917, gross, $347,347; net. $51,328; other incom e.
$203,159: in t.. rentals. A c ., $200,642; d ivs. (6 % ) . $30,000; b a l.. $23,845.
Pros. & T reas,, A . E . Rawson; V .-P . A S ec., E . S. Gentle; General M g r.
under U. S. G o v t., W . J. O’ Brien, C hicago.— (V . 101, p . 773; V . 107, p.694.)
C H .R . I. & P A C . R R .— (H o ld in g C o .)— F oreclosed. V . 107, p . 2187.
★ CHICAGO ROCK ISLAND & PACIFIC RAILWAY.— The sys
tem extends from C hicago. III., via Om aha. N eb ., to Denver and C o lo
rado Springs, C o lo ., also to M inneapolis, Kansas C ity , A c. Connects with
the Southern Pacific for Pacific Coast service.
Owned In Fee <excl.trackage.) Miles.
M iles
Chloago. 111., to Col. Spgs.. C o l.1,063
Cap. Stk. all owned— (V.106p.2025)
Davenport, la ., to Tcrral, Okla. 707 Choo. Okla. & Gulf (leased*__ y()7
Herlngton, Kan., to Texhom a.
Oh. R . I. ft Gulf R y .................... 468
O k la _________
323 R ock Island. Ark. A La. R R . 385
Burlington, Ta., to Minn p.Mlnn. 308 St. Paul A K . C . Short Line R R . 183
Vinton, la ., to W atert’n. S. D . 376 Rock Isl. A Dardanelle R y ____ 140
St. Louts, M o., to Kan. City, \fo.284 Rock Island Stuttgart A So. Rv
21
Bravo, T ex. (New Mex. State line) Stock 50% owned (V . 108. p.378)
to Santa Rosa. N. M ........... ..1 1 2 T rinity & Brazos Val. R y _______ 315
Glenrlo, T e x ., to Tucum carl.
Perpet. lease. treated as owned—
N. M ............................................. 42 Peoria & Bureau Valley R R , Co.
47
Branch lines_____ __________ 2.151
Total mueaga owae l dlreotly and tti rougn capital stock, A c______ ...7 .7 7 3
Leased— K eok. A I ). M . R y ., 162 m .; W hite A Black R iv. Vail. R y.
C o ., 62............................... ............................................................................ 224
Trackage: D enver. Pueblo. Kansas C ity (V . 103, p. 493), & c_________ 521
T otal mileage as o f April 1919,'about......................................................... 8,510
O R G A N IZ A T IO N .— T he com pany at m idnight on June 24 1917 re
sumed possession o f its property, having been successfully reorganized,
without foreclosure. T he safe o f $29,422,160 7 % pref. stock to a syndicatand $5,000,000 6 % pref. to form er directors provided for old floating ob li
gations and reorganization expenses, while the $20,600,000 debentures o f
1912 were replaced b y $20,000,000 6 % pref. stock. V. 104, p. 2641. 2552,
2451, 2342; V. 106, p. 2025. Status in 1917, V . 105. p. 997, 1418. Plan o f
reorganization was in V. 103, p. 1887, 1980, 2155; V. 104, p. 451.
FU LL F IN A N C IA L S T A T E M E N T T O N . Y . S T O C K E X C H A N G E
or Feb. 26 1919, see V. 108, p . 1172 to 1174.
In Jan. 1919 the com pany concluded a settlement o f its litigation with
the C olorado & Southern R y . C o. respecting the T rinity & Brazos Valley
R y., extending from Fort W orth and Dallas to Houston and G alveston,
whereby the C olorado & Southern accepted (in cash 6 0% o f the amount
due on the contract, which, under tho final decree in the R ock Island
receivership, would be payable in full in 6 % preferred stock at par, such
as was paid to all other general creditors o f the Rock Island. This involved
the paym ent o f some $4,000,000 and the R ock Island now owns outright
a jh a lf interest in the T rinity & Brazos Valley R y. and will have a per
manent outlet to the G u lf ports. See “ N otes” below . V . 108, p. 378.
C A P IT A L S T O C K .— O f tho $75,000,000 com . stock, $517,478 on
Aug. 31 1918 was in the treasury and $122,800 reserved against outstanding
stocks o f merged cos. (B . C . & N . and R . I. & Peoria.)
All three stocks were listed on the New Y ork Stock Exchange in M arch
1919.
V. 108. p . 1060, 1172.
(1) Two Classes o f Pref. Stock, 7 % and 6 % , with Same Preference as to Assets
and Sharing Pro flata in all Dividends after Prior 1% on 7 % Pref. Stk.
— Both Cumulative up to 5 % from July 1 1917.
7 % Pref. Stock, callable at 105. A uth.. $30,000,000, viz.: In
treas $256,111: canceled, $321,700; balance outsta n d in g...$ 2 9 .4 2 2 ,1 8 9
6 \ £ ref - 6 L"cfc’ «d la b le at 102. A uth., $35,000,000; issued____ $25,108,100
The auth. pref. stocks m ay not be increased except by vote o f a ma
jority o f each class o f stock, voting separately. V . 106, p. 2026.
(1) Depositors o f the old stock ($74,359,722) paying $40 a share received
In exchange for each $100 share o f their stock and for the cash paym ent
(a) $100 new com m on stock, (6) $40 new 7% pref. stock.
(2) Depositing Debenture holders ($20,000,000) received in cash the
5% arrears o f interest on their debentures to July 15 1916, and In respect
o f each $1,000 debenture $1,000 in now 6 % pref. stock. V . 104, p. 2342.
Principal Treasury Resources Jan. 1 1919.
First & Refunding bonds ($7,500,000 pledged in 1919 under
collateral n otes)....................................... _ _ ....................... ............... $41,181,000
St. Paul & Kansas C ity Short Line R R . 1st mtgo. bon d s____ __ 2,757,060
R ock Island Atkansas A Louisiana H R . 1st m tge. bonds____
1,965,000
Bonds o f subsidiary companies
. .
_______ _____ _
4,780,973
On D ec. 31 1918 owned $400,000 o f Series A gold 4s and all o f the $5,
047,000 Series B gold 4s o f the T oledo St. Louis & Western R R . (see that
com pany on another page) secured by stock in the C hicago & A lton.
D IV ID E N D S .— T he Initial semi-annual dividends o f 3 )4 % on the 7%
preferred stock, and 3 % on the 6 % pref. stock were paW Jan. 14 1918
and repeated July 20 and D ec. 31. V. 106, p. 2559, 2756; V. 105, p. 2542.
★ Government
Control.
38
M iles
Road
R A IL R O A D C O M P A N IE S
[For abbreviations, A c .. see notes on first page]
C h ic R o c k I si & P a c ific R y (Concluded) —
Old Divisional Bonds, A c .—
292
998
12
113
351
282
335
363
Consol mtge (cold_________________ v v . - . O P . j ° '
St P & K C Short
do
do
d o Ser F g 512.000 s-a (V 93. p 939>;
d o Ser G g $170,000 s-a (V 95p 160,
do
do
C hlcazo St Louis & New Orleans— See Illinois Central
Chicago St Paul Minn & Omaha— Comm on stock . . .
Preferred stock non-oum Including scrip (see text) .
Nor Wls 1st M Lake St C to near Spooner ass’dC e.zo'
do
do
(locom otives) $10,000 ann.
Par
Value
Amount
Outstanding
*1,000 $1,905,000
1881
l.OOO&o 11,000,000
1884
150,000
500 &o
1877
450,000
1885 1,000 &o
1,000 6,500.000
1894
1,000 3.525,980
1899
55,000
1,000
1899
1,000 5,41 l .000
1902
500 &o bl2.965.000
1910
453.600
1,000
1911
1911 * & £ Cl2.627.730
265.000
1,000
1909
1,000 2,925,000
1910
20.000
1.000
1911
180,000
1.000
1911
2,890.000
1.000
1912
2,205.000
1 000
1913
1,000
1,883,295
1915
Rate
%
5
5
7
6
5
5
6
g
g
g
5
18.556.767 5 In 1918
11.259.300 7 In 1918
531,000
0
1,000
80 1880
1.000
1.600,000
6
1895
6
1,000 24,387.000
11.669 (1880
3.734 000
3X
1,000
(1880
* _
6a
1912 1*000 &c 11,200.000
l
242
361
361
1898
1901
1910
1910
1913
1913
When
Payable
A
A
J
J
J
J
J
M
M
J
K
A
M
J
F
g
g
St
5 g
4H g
4
4K g
4H g
4H g
6 g
4M g
g J
J
6 g
100
C hlcazo Terre Haute & S E— S tock
is t and R ef M 520.000.000 g call 107 H --IC .x o * & r
Date
Bonds
100
consols Interest red u oed ..
do
do
APrlvate
Control.
RAILWAY STOCKS AND BONDS
250.000
6
7,534,000
4 g
1.000
1.000&O d 4 ,244,000
5 g
100 &o
6,336.055 See text
5
1,00(
330.000
5
40.000
1 ,0 0 0
o
&
o
A
D
& J
A
J
A J
A J
& N
& S
& 3
& A
&
& N
A
J
A
o
A
A
&
M
A
A
F
F
A
&
J
J
s
1 &
VI A
J A
J A
M A
J
F
J
See
A
J
Lasl Dividend
and Maturity
[V o l . 108.
Places Where Interest and
Dividends are Payable
Oct 1916 cou p pd wh due
First N at B k . N ew York
do
ao
do
do
do
or Phlla
1 1919
do
or PbMa
do
do
do
do
do
or Europe
G o’s office , Chicago
New York and London
First National Bank, N Y
do
do
U S Express Co
-Aug ’26 First N at B ank, N Y
do
do
i July *27
do
do
1 1934
A Fob 20 T 9 . 2}
A Fob 20 T 9 , 33
J Jan 1 1930
S June 1 1930
D June 1 1930
D June 1 1930
S Mch 119 3 0
Ottloe 111 B ’ w ay. N Y
do
do
do
do
do
do
do
do
do
do
1st N at B k. N Y or Che
do
do
do
do
do
do
text. Deo 1 1960
do
do
& O O ct ’ 19-A pr '23
do
do
A
J T o July 1 1923
& J July 1 1938
& A Feb 1 1951
D Deo 1 1960
A
y com p any an d pledge d for loans.
C H A R G E S . & c.— The reorganization reduced the total fixed charge
obligations from $295,946,383 to $257,758,383. and during the first half
o f 1917 these wero further reduced to $221,051,448 out o f earnings and
current assets, increasing the proportion o f stock to such obligations from
25.12% to 5 8 % . and reducing the fixed interest charge from $12,277,096
to $9,347,000. Capitalization p. m . in D ec. 1918: fu n d e d d eb t, $29,235,
pref. stock. $7,359: com . stock. *10,052: total, $46,646. V. 105. p. 997.
On D ec. 31 1918 owned or had retired all o f the bonds o f Consol Indiana
Coal C o . V . 107, p . 2008; V . 104, p. 1267; V . 80, p . 2401, 2623; V . 82,
p . 499: V . 100, p . 1921.
B O N D S .— General 4s o f 1898. V . 66, p . 522: V . 78, p . 228: V .80,p.272.
FIRST A R E F U N D . 4 % BONDS OF 1904 ($163,000,000 A U T I I . ISSU E.)
A 1st lien (either directly or through pledge o f entire Issues o f bonds o f cue
com panies owning the same) on terminal property in St Paul, M inneapolis
and Kansas C ity , new equlpt. and sh op sa t SilvD, near East M oline, 111., and
on railways aggregating 1,178 miles; also a junior lien subject to existing
m ortgages on all the other lines o f the system o f the Railway com p a n y. aggre
gating, exclusive o f leased lines and trackage, on D oc. 31 1918, 4,669 miles,
also on tho entiro capital stock and baso hold Interest on lines aggregating
968 miles and on base hold Interests on 272 miles. See V . 78 p . 228.
234: V . 79. p . 1716, 2206; V. 84. p . 219; V . 85. p. 98. T ho deed o f trust
forbids tho creation o f a junior m ortgage w ithout the consent o f the
holders o f all the Ref. M . 4s. V . 87, p. 1089, 1419; V . 88, p . 623, 822;
V . 89. p . 666; V . 90. p. 108. 236. 1170. 1424; V. 91. p. 1766; V. 93, p . 1667.
1785: V . 99. p . 1748. 1831: V. 100. p. 900.
.
C hicago & R ock Island E levator $300,000 m ortgage 5 % bonds due O ct.
1924 (assum ed), see V . 79, p . 2590; V . 82, p . 750.
. 0. D .
Rock I . A rk. & La. 1st M . 4 Ms (V . 90, p . 626, 699, 1161) and St. P . A
Kansas City Short Line ls( M . 4
V . 92. p. 526, 693; V . 93, p . 1196:1159;
V . 94. p . 1056: V . 97. p . 236. 1114). were guaranteed, principal and int.
R ock Island-Frisco Term inal 5s. see that c o . and V . 84. p. 569. 748.
N O T E S .— T ho $4,500,000 6 % C ollat. T r. N otes o f 1919 were Issued in
con nection with a settlem ent o f the T rin ity & Brazos Valley and Galveston
Term inal B y . litigation (seo “ Organization” a b ov e). T h ey are secured b y
pledge o f $7,500,000 First & R efunding M tgo. 4s. V . 108, P- 479.
Loans & bills payable as o f D ec. 31 1918, $12,200,000, inef. a dom and loan
o f $9,700,000 from tho W ar Financo C orp . secured b y $16,850,000 First
& A d v’a nces'from the U . S. R R . A dm in, to April 1 1919 aggregated $3,500,
000. In addition tho co . had received $1,700,000 on account o f the com
p a n y ’s annual com pensation.
E A R N S . O F S Y S T E M , (1918— Gross, $104,289,565; net, $14,862,893
12 m os., Jan. 1 to D oc. 3 1 .\ 1 9 1 7 ---G ross,
89,608,722; not, 23,562,618
R E P O R T .— For calondar year 1917 In V . 106, p . 1678, 2025, 2219.
Officially Estimated Incom e Account for Cal. Year 1918 under Fed'l Control.
Standard return (based on m inimum rental tho com pany is en
titled to receive under Federal C ontrol A ct) (con tract not
y et sig n ed )___________________________________________________*
T otal non-operating incom e---------------------------------------------------- '- ooo .imz
Total gross corporate in com e---------------------------- — ----- ----------Deduct— Oper. expenses, miscellaneous taxes, rentals,
----Interest on funded debt. $9,204,830; on unfunded debt, $269,446
1.483,548
9,474,276
Surplus available for dividends------------------------- .........................$5,481,099
1917.
1916.
Calendar Years—
*1918.
8.218
8,088
,8 .2 5 0
Average m llos_______________________
Freight earnings_____ ^______________ $69,186,218 $59,690,072 $55,141,668
Passenger oarnings___________________ 27,891,233 23.301,086 19,674,370
6,617,564
6.073,091
M ail express, & c_____________________ 7,212,114
Total gross earnings______________$104,289,565 $89,608,722 $80,889,129
Operating expenses----------------------------- 89,550,327 66,046,104 55,091,717
N ot earnings.........................................$14,739,238 $23,562,618 $25,797,412
Operating incom e (after taxes)_______ $9,729,005 $19,193,048 $21,992,343
1,429,195
1,436.342
Other incom e________________________
1,644,345
T otal net incom o.................................. $11,373,350 $20,622,243 $23,428,685
Interest, rentals, & c_________________ $12,559,142 $13,095,098 $15,350,496
D ividends_______________________________
x
1,779,774
Balance, surplus or d eficit___ d e f.$ l, 185,792S .$5,747,371 S.$8,078,189
♦Figures for 1918 are com bined results o f tho affairs o f tho corporation
and tho results o f operation b y tho U . S. R R . A dm in, x Paid from balance
o f standard return after providing for all corp. chges., $3,566,027 in divs
O F F IC E R S .— Chairman, J. G . Shodd; Pres., Charles Ilayden; V .-P .
M . L. Bell; V .-P ., L . C . Frltch; Sec. & T reas., Carl N yquist; C om pt.
Frank N ay; A sst. Sec. & A sst. T reas., W . Vandorpool, Chicago; Federal
M g r., J. E . G orm an, C hicago. N . Y . office, 66 B roadw ay.
Board.— J . G . Shedd, Chairman; M . L . Bell and James A . Patton, Chi
cago; N . L . Am stor, B oston; Charles H ayden (P res.), James Spoyer and
A . C . Rearick (representing 114,000 shares in H ollan d), N ow Y ork; 1 . W
S cott, R ichm ond. V a.; N a th ’l French, D avenport; Beman G . Dawes
C olum bus; W . Z . R ip loy, H enry Bruore and P . J. Ten E yck .
E xecutive com m ittee: N athan L . A m ster, Chairman: John G . Shedd
James P atten, B . G . Dawes, Charles Ilaydon, W . Z . R ipley and N ath
French. Financo com m ittee: Charles Ilayd on , Chairman; A . C . Rearick
Frederick W . S cott, H enry Bruere and James Speyor.— (V . 108, p. 479
578, 784. 1060.)
★ CHICAGO ST. P A U L M IN N EAPOLIS & OM AHA R Y .— {See M ap Chi
caoo A North Western.)— R O A D .— E lroy, W ls., to Omaha, N eb., 593 miles
other lines, 1,160 m .; total, Jan. 1 1918, 1.749 miles, of which 1,684 are
owned and 65 miles leased. V .6 9 . p .1 1 4 7 .
_____ _ „ North W estern R y . purohased con trol.
v iz ., $9,320,000 com m on and $5,380,000 p rof., and in 1910 $220,000 co m .
"A D V A N C E S ” A N D " S T A N D A R D R E T U R N ,” & c.— Seo page 5.
T ho contract executed with tho U . S. G o v t, fixes the annual conaponsa
tion for G overnm ent use at $4,934,789, Including this the total estimated
available incom o charges was for 1918 $2,521,000. V. 107, p . 1669.
ST O C K .— Authorized com m on, *21,403,293: preferred, 512,640.833.
Held by the com pany A pr. 1 1919, com m on stook and scrip. *2,844,2071
preferred stook and sorlp, *1.386.974. Preferred stook has a prior right
to non-oum . dividend of 7 % . but com is never to reoelve more than pref.
L A T E D IV S .— \*99. ’00. ’01. '0 2 . '0 3 . ’04. '0 5 -T 6 . T 7 . T 8 . F eb T 9 .
i n iy K
e
o
a
A 7
rr y ’ly A
R
2^3
8
0
6
6
C om m on_________/ 3 14 5
92. p . 954, 1310.
B O N D S .— Superior Short Lino R y . 5s.
N orth WLsc. 1st 6s, due 1930, are exchangeable at option o f holder at any
tim e, $ for $, for con sol. 6s. V . 68, p . 521: V . 77, p. 2389.
T h o $6,076,000 St. Paul & Sioux C ity 6s m atured April 1 1919 and were
replaced b y $6,070,000 C onsols, o f 1880. V. 108, p. 877, 977. T his mado
tho disposition o f tho $30,000,000 Consols, as follow s: (a) Outstanding
6 % bonds, $24,387,000;
bonds, $3,734,000; total! $28,121,000;
(6) reserve to retire underlying bonds, $566,000; (c) resorvo for new lines
not to exceed $15,000 per m ile, $l,3l3,0O O.
O f the $11.200,000 debentures ($15,000,000 a u th .), $9,200,000 are plain
and $2,000,000 aro "sta m p ed " as subject to Incomo tax; an additional
$2,000,000 Is owned b y tho com pany or duo it from tho trusteo. V. 101,
p . 1806. A ny increased mtgo. (except for extensions) must secure deben
tures. V . 94. p. 278, 487. 1316; V . 95, P. 812; V. 90, p. 1421. 1556; V .9 8 ,
p . 386; V . 101. p . 129. Equipm ents oi 1917 owned b y com pany, $1,100,000.
E A R N IN G S .— 12 m os., f 1 9 1 8 - - .Gross, $24,829,981; net (bo- $3,945,782
Jan. 1 to D ec. 31.
tl9 1 7 ---G r o s s , 21,476,509; fore tax .),5,635,196
R E P O R T .— R eport for cal. year 1917 in V . 106, p . 1336. 1300, 1453.
1917.
1916.
1915.
Operating revenues------------------------- --$21,476,509 520.855,286 $18,200,614
N ot, after taxes, & c__________________ $ 4 ,z y j,o 3 »
$6,185,981 $4.J43.951
Other i n c o m e .._____ ________ —
A-w •*/
478,070
41.5,158
Gross incom e
____
$4,837,725
$6,664,051 $5,357,109
R e n t a l.
..............
$450 200
$ 639,410
3702.138
Interest
..........
$2,262,870
2,259,665
2.105.332
P r e fd iv s ." (7 % p . a . ) I " I ” I I I I I I 788,151
788,235
787,976
C om m on d i v a . . - — - ........................... (5)927,835 (7)1,298,986 (7)1,298,934
Balance, s u r p l u s . . - . . - . __________
$402,603
$1,627,754
$312,729
O F F IC E R S .— Chairman o f B oard, M arvin H ughitt: Pres., Jas. T*
Clark: V .-P ., S. A . Lyndo; Gen. C ounsel, E . M . Hvsor; See., J. D . C a ld
well; T reas., A . S. Pierce: Federal M g r., Arthur W . T ronholm , St. PaulM inn .— (V . 108, p . 267, 378, 877, 972, 1390. 1511.)
★ C H IC A G O T E R R E H A U T E & S O U T H E A S T E R N R Y .— Owns
Chicago Heights, 111., to W estport, In d ., 298.09 m .; Blackhawk to Sul
livan, Indiana, 18.50 m .; Bluo Island Y ard , Illinois, 0.88 m .; Bedford to
O olitfc, Indiana., 4.76 miles; 10 branches, 39.18 inilos; trackage B ue
Island Yard to Chicago H eights, Illinois, 12.47 miles: trackage to Union
D ep ot, Terre Haute, Indiana, 0.30 mllos; total D o c .3 1 1 9 1 7 ,3 7 4 .1 8 miles
Incorporated In Indiana and Illinois in N ovem ber 1910 as successor o f
the Southern Indiana R y . and the Chicago Southern R y . (both foreclosed),
per plan In V . 91. p . SS1! , 333.— V. 97, p. 1110.
STO O K .— The *4,300,000 co m , stook, except shares necessary to qualify
directors, have been plaoed In a voting trust until Dec. 24 1920. unless
sooner terminated, as provided In the agreement. R o y O. O sgood. Frank
F . T aylor and G eo. A . Jaokson, voting trustees.
B O N D S .— T he new "F trstand R e f." M . Is a first lien on about 115 mllos
and a second (consol.) m ortgage on the remaining 240 m . owned. V. 91.
^Purposes 'for uft(eft9 *20,M0l.0<$0 First and Refunding Boride were Issuable
Issued under plan (o f which $2,090,000 pledged for lo a n s )..
$6,334,000
Reserved to retire So. In d . R y . and Bedford Belt 1st M. b o n d s .. 7.<87,000
Reserved under careful restrictions for extensions, additions, IraDrovements, acquisition of sub-com pany stook and bonds. &o 5.879.UW
T he Income bonds dated D ec. 1 1910. $6,500,000. bear Interest from
D e c . 1 1912 at 5 % per annum from not oarnings (determined as provided In
the m ortgage), payable If earned, but cum ulative to extent not paid.
I he
Incomes have at all stockholders' mootings one vote for each $100 par value,
the condition and manner o f casting such vote being fully t tated In the m tge
D iv . on Incom es, 1 % , seml-annuallv paid Sept 1 9 11 to M ar. 1913 jn cl.:
\ X % paid Sept. 1913; then nono till M arch 1 1917; to M ch . 1 1919, U i %
i l W
•AD VAN CES” A N D
A
l i S ° V 5 .0 0 0 2 *&
" F lr»t * n o t ." 5s. S837.000.
S T A N D A R D R E T U R N ,” & c.— Soo pgae 5.
L A T E S T E A R N IN G S — 11918-Gross, $5,000,956; not (before $627,906
(1917-G ross. 3,805,025;
taxes),
915,536
Jan. 1 to D ec. 31.
R E P O R T .— F or year ending D ec. 31 1917 In V . 106. p. 2751.
1917.
1916.
1917.
1916.
$42,748
$32,754
Gross e a r n s ..$3,805,025 $2,813,761 Rents, & c____
$648,506
N et earnings. $667,890 $516,083 Fixed lntorost $019,401
Int. on l n c .(2 H ) 158,402(1 M )7 9 ,201
Hire equlp.,&c.
654,499 429,978
Gross ln co m o .S l,322,389
$916,001 BaL, surplus. $501,835
$185,600
Coal Tonnage Transported ( *Cal. Years; xJune 30 Years).
X1912-13.
X1913-14.
X1914-15.
X1915-16.
* 1 9 1 6 .,
2,470.541
3,057,639
3,100,701
3,669.005
4,077.272
5,414,198
A p r ., 1919.j * 8 X T ont
APrivate
Control.
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
[For abbreviations. A c., see notes on first pass]
M ile s
R oad
Chic Union S tation— 1st M g gu p&l red.IC.yc*&r*
—
Chicago Utilities— Common stock *22,500.000
Pref stock 5% non-cum *30.500.000-----------1st M ser A g 1st lien $20.000,000-Usm.xi
do Ser B g 2nd lien $4,000.000------Usm.xc*&r*
Chicago & Wabash Valley Ry— See Chic. Ind.
1 “ lsvllle
Chicago & Western Indiana—-Stook (see text).
‘ 53
General mortgage gold sink fund subj to call 105.xo*
Cons M *50,000,000 g.............................IC.xo»&r*
First and Ref M *200,000.000 - - - - .........Ba xc* & r '
Oollat trust notes gseo’d by 1st & Ref M red 100)4 Bi
Notes taken by Belt Ry and sec by 1st & Ref M 5
Chicago & West Michigan— See Pere Marquette HR
Chicago Wisconsin & Minnesota— See Wisconsin Cem
Choc & Mem— Choc Okla & Q u lf—See Ch R I Sc 1
Cincinnati Dayton & Ironton— See Clnoln Ham & Daj
91
Cincinnati Find & Ft W— 1st M g guar end red..N.o'
Cincinnati Hamilton & Dayton— See Balt & Ohl< RR
Cincinnati Ind & Westerh— 1st M $12,000,00(
284
do
Par
V a lu e
D a te
B onds
A m ount
O u tsta n d in g
R a te
%
W h en
P a y a b le
4H g J
1915 $l,000&c a$30000000
100 18.794.000
100 30.475.000
A
5g
19l2 1.000 See 5.999,900
1912 1.000 &c 4.000.000 See text
&
L a s t D iv id e n d
an d M a tu rity
J July 1 1963
39
P l a c e s W h e r e I n t e r e s t and
D iv id e n d s a r e P a y a b le
NY.PaR RCo;OhI,IIlTr&<•
—
100 5,000 000 6 in 1918
6g
1.000 b3,3l4,677
1882
4 g
1902 1.000 &0 46:685.000
1912 1.000 &c
6g
1917 1.000 & o 15,000.000
1,000.000
6
1,000
1915
& O Apr 1 1942
Apr 1 1942
April 1915 coup not paid
Q— M 31 Dec 31 T81 H%
Q—M Deo 1 1932
J & J July 1 1952
M A S Sept 1 1962
M & S Sept 1 1919
M & S Sept 1 1919
Chicago
J P Morgan & Co. N Y
111 Tr & S Bk.Chlo; &NY
N Y . J P M & O o , &Chio
See text
Chicago, Cent Trust Co
Nov T4 coup not paid
1.150.000
4g
M & N Nov 11923
1915 $100 &e $2,675,000
392.000
1916
490,000
1.00)
1916
5g
5g
N Y , Equitable Trust Co
M & N Nov 1 1965
do
do
F & A Aug ’19-Feb '26
A & O 15 Aug '19-Apr '26 Penn Ooforlns onLives,&o
1.000
1903
ed as collate ral
rch 1 1919.
v
OFFICERS, &c.— Pres.. M . J. Caprenter; V.-Pres., E. IC. Boisot; Sec. &
Treas., E. M . Tourtelot: Federal M gr., W. J. Jackson, Chicago. Direc
tors: M . J. Carpenter, E. K. Boisot, J. S. Fiold, F. O. Wetmoro, John 1.
Beasloy, Ralph Van Vochten and W. T . Abbott.— (V. 108, p. 972.)
★ CHICAGO UNION STATION CO.— Incorporated in Illinois. Owns
old Union Station and Is building extensive now terminals covering 35 acres,
at c6st o f $47,000,000. Completion delayed In 1918 by war, but In 1919
the sum o f $5,500,000 was to be expended In construction. V. 106, p. 2194;
V. 107, p. 180. Cap. stk., auth., $3,500,000; outstanding, $2,800,000, held
one fourth each by Pennsylvania Co., P. C. O. & St. L. R y., Chic. B. & Q
R R . and Chic. Milw. & St. Paul Ry. The station will be used by the four
proprietary companies and the Chicago & Alton R R . The $30,850,000 1st
mtge. bonds are part o f an authorized Issue o f $60,000,000. They are
guar. prln. Sc Int. by the four propriotary companies. Rod. at 105 on or
after Jan 1 1921. In Jan. 1919 sought permission to issue $0,150,000
scries B bonds. See V. 103. p. 60. 667, 1301; V. 107, p. 180, 1836. Gen.
Mgr. under U. S. Govt., G. L. Peck, Pittsburgh, Pa.— (V. 108, p. 378, 479).
A CHICAGO UTILITIES CO.— Incorporated in Maine April y tytij to
succeed (per plan V. 94, p. 938, 939, 1386; V. 94, p. 350) the Illinois Tunnel
Co. and Chicago Subway Co. foreclosed. V. 94. p. 911. 1056. 1118: V. 96,
p. 652. 1089. Uoorg. per plan of Oct. 2 1911 (V. 93, p. 938, 939. 1386.)
Thoro Is owned by subsidiary companies 60 miles o f tunnel, designed for
narrow-gauge electric motors and cars, for the transfer of freight botweeu
the various railroad terminals In the City o f Chicago and to and from the
downtown business
isiness district,
cnsrricr. and
ana between
uevween business
uusino.ss houses;
nousos; see V.
v . 86,
so, p. 720;
vzu;
>7. The
V. 87, p. 1357
' equipment o f the (unprofitable) telephone property
1. V. 103, p. 1121, 758, 1301; V. 101, p. 369. April 1915
has been sold,
aid. V. 100, p. 1256, 1751.
coupons unpaid
EARNINGS.— Since 1913 no income from subsidiary companies. Flguros
presented at tho annual meeting Jan. 22 1918 Indicated a deficit for the
Chicago Tunnel Co. in 1917 o f $100,200. comparing with a doficit of
$31 138 in 1916 and $25,661 in 1915. Deficit for 1918, $75,226.
Directors.— A. Slade, W. E. Worth and W. J. Gavin of Chicago; R. J.
Dunham. Joseph Harris; Pres. S. W. Tracy, Chicago; Treas. & Sec.,
J. O. Payton. Chicago office, 754 W. Jackson Boul.— (V. 100, p. 394.)
★ CHICAGO & WESTERN INDIANA R R .— (See M ap.)— Ownsa valuabio
terminal system affording entrance into Chicago to the roads named below.
It* lines extend from Dearborn Station, Polk St., Chicago, to Dolton, 17 m.;
also to Indiana State line. 10 m.; to Cragln, 21 m., and to South Chicago,
6 m.; total, 51 m.; total track, Inoludlng 2d, 3d, 4th tracks and sidings, 545
m .- also owns real estate, car yards, warehouses, elevators, &c. The
clearing yard embraces 1,810 acres. V. 105, p. 388.
Leases — Tho station terminal properties, including the "Dearborn Sta
tion" and Its connecting tracks, aro used for freight and passenger business
under 999-year loases (which have been In force for many years) by the
following companies, which own all the capital stock o f the Chicago Sc
Western Indiana R R . Go. ($1,000,000 each), viz.: Chic. & Eastern Illinois
R R . Chic. Ind. & Louisville R y., Grand Trunk Western R y.. Wabash Ry.
and krle RR. Co. The Atch. Topeka Sc Santa Fe Ity. Co. also uses these
tracks and station under a long-term lease at a fixed annual rental, plus a
proportionate maintenance, &c.
Tho “ Belt Railway division, Including the clearing yard upon which
the First & Ref. M . bonds (mostly pledged to secure the 1-year 6% notes of
1917) are a first lion, Is operated under a 50-year exclusive lease by tho Belt
R y. Co. of Chicago, all of whose stock Is owned by the following 12 roads:
Pennsylvania C o., Atch. Ton. & Santa Fe Ry. C o., Illinois Central RR.
Co. Chic. Burl. & Quincy RR. C o., Chic. Rock Isl. Sc Pacific Ry. C o.,
Ohes & Ohio R R . Co. of Indiana, Minn. St. P. & S. S. M . R y., Chic. Sc
East. III. R R ., Chic. Ind. & Louisv. R y., Erie R R ., Grand Tr. West. Ry.,
Wabash R y. Tho Belt Ry. (V. 104, p. 1488; V. 105, p. 388) Is merely an
operating company, owning no miloage. Tho lease to tho Belt Railway
Co. provides for an annual rental, of which at Ioast $798,899 Is payable
directly to the trustee of tho First Sc Refunding Mtge. in monthly Install
ments this payment to be Increased from time to time by an amount equal
to the' interest on all obligations issued for improvements to the “ Bolt
Division"- also a further $159,000 yearly for sinking fund.
DIVIDENDS.—
/ '96. 96. ’97 '98.'99 1900to Doc 31T8.
Percent ........................................ 1 7 M 6
6
6
6
6 yearly
BON DS__The General Mtge. bonds are drawn at 105 and Interest
- ---- '
th. Is---- “ *"*
" r*
—
87. p
_
7, p. __JiP __
____ ____ ____
Indian" 1019 applied' to tho III. P. U. Commission for an order authorizing
the issuing of $632,000 Consols.
Of the 1st <Sc Ref.bonds of 1912 (*200,000,000 auth. Issue), with Interest
not to exceed 5% . *50,000.000 were reserved to refund existing bonds,
*50 000 000 for additions and improvements to the Belt division, including
Chicago Union Transfer R y.. for $4,400,000. and $100,000,000 for now
terminals and other improvements. There are $22,250,000 of these out
standing. $2 1 ,0 0 0 ,0 0 0 being pledged under the 1-year 6% notes of 1917
(see below) and $1,250,000 held In the Interest o f tire Belt Ry. No addi
tional First Sc Ref. bonds can be lssuod until the aggregate annual rentals
payable above all oper. expenses, taxes. Sec., shall equal tho Interest in
cluding bonds proposed. Tho leases provide that tho fivo owning compa
nies will Jointly and severally pay the interest on the *22.250,000 bonds,
also a further $159,000 yearly for a sinking fund until $22,250,000 has been
redeemed V.101. p. 693, 448; V. 100. p. 1671: V. 105,p. 388.
Tho $15 000,000 ono-yoar 6%collatoral gold notes o f 1917 are secured by
deposit of $21,000,000 First Sc Ref. 5s. Those notes wero not paid at ma
turity Sept. 1 1918, either principal or interest, owing to objection by
Federal authorities to proposed underwriting, but in November were ex
tended for one year with an extra compensation of IM % (making tho
extended investment yield about 7 )$% ) with tho payment o f the overduo
interest enough assents having boon received. V. 107, p. 1161, 1068, 1836;
V 108 n 1717. A further $1,000,000 note issue was sold Sept. 1 1915
ami extended to Sept. 1 1919. V. 105. P. 176 . 606.
Pres Edward II Lee, Chicago; Sec. Sc Aud., II. T . Evans; Treas., A. It.
Barton'-’ Oen. Mgr. under U. 8. Govt., II. G. Uetzlcr; Acting Fed. Treas.,
J. E. M urphy— (V. 108, p. 479. 784.)
C I N C I N N A T I B L U F F T O N & C H . R y . — D i s m a n t l e d .— V . 1 0 6 , p . 2 2 2 8 .
A CINCINNATI FINDLAY & FORT W A Y N E R Y . — Owns Findlay, O.,
to Fort Wayne. Ind., 78.4 miles; to East Mandate, south to Ottoville. 6.1
miles. V. 78. p. 286, 342,*701. Coupons duo Nov. 1914 were defaulted.
V. 99, p. 1451. Property was not included in the O. H. & D. reorganization
plan as issuod, but under “ adjustments” of certain claims, arranged by the
committee, tho depositing bondholders in Aug. 1917 received $200 per bond,
also in March 1919 $100 per $1,000 bond from proceeds of foreclosure.
V. 108, p. 1164; V. 105, p. 606. J. B. Carothers was appointed receiver
in March 1917.
U. S. RR. Administration operated the road from March 15 to Aug. 31
1918. Operations were then abandoned. V. 107, p. 2475; V. 106, p.2228,
1344, 929; V. 107, p. 695. Tho property was bid in for $200,000, the upset
price, by tho bondholders’ committee, at foreclosure sale on Nov. 18 1918.
V. 107, p. 1481, 2008; V. 108, p. 378.
Committee for First Mtge. 4s.— F. N. B. Close (Chairman). Bankers
Trust Co., N. Y ., depositary.— (V. 108, p. 378.)
CINCINNATI HAMILTON & DAY TON R Y .— See Baltimore & Ohio..
— (V. 105, p. 1801, 2272; V. 108, p. 683.)
★ CINCINNATI INDIANAPOLIS & WESTERN R R — Owns Hamilton
O., to Springfield, 111., 284 miles; Sldell & OInoy RR. (stk owned), Sldell,
111., to west Liberty, 75 miles; trackage to Olne.v. 8 miles: trackage O. H. Sc
D . for passenger trains Hamilton to Cincinnati, 25 miles; other trackage.
4 miles; total Jan. 1 1918, 322 miles. On Dec. 1 1915 succeeded Cincinnati
Indianapolis Sc Western Ry., foreclosed and reorganized independently or
Cin. Ilam. & Dayton R y., per plan in V. 100, p. 2084; V. 101, p. 47, 1552;
V. 102. p. 250; V. 103,p. 1786, 1888; V. 104, p. 361. 2451; V. 105, p. 72.
In 1918 authority to abandon operations on the 75 miles of the Sldell Sc
Olnev was denied, but its sale under foreclosure was set for April 15 1919.
V. 108, p. 974; V. 106, p. 2559, 2230.
STOCK— VOTING T R U ST .— Capital stock auth, common. $7,500,000
5% non-cum. prof., $7,500,000. Par $100. The present issues. $5,350,000
of each class, is covered by a voting trust till Doc. 1 1920 (unless
previously terminated by vote o f the trustees thoreunder). Voting trustees
are Frederick II. Ecker, George IC. Johnson, H. F. Whitcomb. L. Edmund
Zachor, J. A. Barbey. Equitable Trust C o., agent for trustees.
BONDS.— The new mtge. is limited to $12,000,000. See table.
Equipment trusts of 1916, V. 102, p. 521, 1346, 1435.
LATEST EARNINGS.— (1918-Gross, $2,027,500; not (bef. def.$16,258
8 mos.. Jan. 1 to Aug. 31.U917.Gross, 1,779,922;
taxes),
391,516
After deducting int. on funded debt, other charges and rentals, bal., def.,
$230,801.
R E PO RT.— For calendar year 1917 in V. 107, p. 397:
1916.
1917.
Cal. Year— 1917.
1916.
$590,551
Grass earns..$2,639,537 $2,372,129 Gross Income. $508,538
166,030
104,469
Net,aft.taxes.
$382,930 $540,335 Rents, &c____
181,521
181,306
Other income.
125.608
50,216 Interest ____
243,000
222.763
Gross income.
608,538 590,551 Balance sur.
OFFICERS.— Pres., B. A. Worthington; Sec.-Treas., F. J. Goebel,
Fed. M gr., II. O. M ay. Chicago.— (V. 106, p. 2345. 2450. 2648; V. 107,
p. 397, 1099.)
★ CINCINNATI INTER-TERMINAL RR.— Owns a road 0.6 m. in length
connecting the Chesapeake & Ohio bridge and the Cin. Ham. & Dayton
terminals. Controlled by Chesapeake <Sc Ohio Ry. Common stock, *10^000
In *100 shares, Issued for purpose of control. There Is authorized *1,000,'KX) of first pref. 4% cum. stook scoured by mtge. to the Union Savings Bank
& Trust Co. of Cincinnati, as trustee, and rentals paid by Ches. & Ohio and
Cioulsvllle <fc Nashville, and subject to oall on any Int. day after Feb. 1 1915
at 105. V. 79. p. 212: V. 80. p. 1728. 2398. 2620. Rentals received for
year ending Dec. 31 1918, $33,000; dlvs., $33,000. Pros., Chas. E. Gra
ham.— (V. 80, p. 2620.)
★ CINCINNATI LEBANON & NORTH. R Y.— Owns Cincinnati. O.. to
Dayton. 56 m.: from Middletown June, to Middletown, O.. 14 m.; Hemp
stoad to Clement, O., 5 m.; branch, 1 m. V. 99. p. 1831: V. 100. p. 139.
Stock. $2,099,600, owned by Ponna. Co. V. 75. P- 980: V. 100m. 53.
Dlv. of 3% paid In 1906. 09 & TO; ' l l Sc T2, 4 % ;'1 3 . 5% ; 14. 3 % ; 15.
none; T6, 4 % . V. 99. p. 53. The $1,500,000 1st cons. 4s are guar., p. & L.
by Penna. Co. V. 77. p. 86: V. 98. p. 610. Cal. year 1917, grass, $951,541;
net, $61,881: other Income, $57,906; charges. $108,885; surp.. $10,902.
Fed. M gr., G. L. Peck. Pittsburgh.— (V. 100, p. 900.)
★ CINCINNATI NEW ORLEANS & TEXA S PACIFIC R Y .— Operates
Cincinnati Southern R y.. owned by city o f Cincinnati, Cincinnati to
Chattanooga, Tenn., 335 miles; trackage, 2 miles. Owns entire stock
of Harriman & Northeastern R y., 20 miles, operated separately. V.
77, p. 1743. In 1901 lease was extended 60 years to Oct. 12 1966
rental under renewal to be SI,050,000 yearly for first 20 years, then
$1,100,000 for 20 years; thereafter $1,200,000. V. 73, p.722: V. 74, p. 1251:
V. 95. p.1402. Pref. stock has no voting power. V. 74, p. 528. 829.
DIVIDENDS.— I 1905. 1908. 1907-T0. T l . T 2-T5. T6. T7. T8.
5 )i
5
8
11 y ’ly 12)4
13 13
Common________ % ( 5
Dividends on common stock semi-annually (J. Sc D .), 3 % , and In Dec.
1916 and Juno and Dec. 1917 and June and Dec. 1918, 0 ) 4 % extra. V.
103, p. 1980. Majority of com. stock is owned by S. W. Construction Co.,
which in turn is controlled by Ala. Great So. R R ., &c. V. 61, p. 26;
V. 65, p. 1173.
GENERAL FINANCES.— The U. S. R R . Administration in M ay 1918
sanctioned improvement outlays of $5,415,994; equip., $619,750.
"AD VAN CES” AND “ STANDARD R E TU R N ,” &c.— See page 5.
A m . . 1919.
★ Control.
Government
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
[For abbreviations, A c., see notes on first page]
ran iiou «. '■/ill jwvoc J.— r irso ivj. g can lua
gin S Musk Val— See Cleve Akron A Clnolnna
Cln New Orl & Texas Pac— Common stock ?3,00u.uuu
Preferred stock (aAd) 5% cumulative $3,000,000
Miles Date
Road Bonds
Par
Value
Text
71 1902
29 1914
$10C
1.00C
600 Ac
...
__
Equip trust Ser D due $90,000 s-an_ —
C incinn ati N orthern— Capital stock.
____
1911
1910
100
10(
1 .0 0 0
1 ,0 0 0
Amount
Outstanding
fial(
%
$825,000
1,338,000
300,000
4
4g
Bat., Sur.
Year 1917—13,051,819 3,205,771 1,429,980 2,02(1,783 511?370 2,157,003
Year 1916-12,019,397 3,852,140 911,235 2.120,315 481,470 2,101 591
DivWonds Include yearly $122,070 (5% ) on pref. and In 1917 $388,700
U 3% ) on the com. stock. Fed. Mgr., L. II. Coapman, Washington. D C
— (V. 107, p. 291, 401, 2372.)
'
★ CINCINNATI NORTHERN R R .— (See Maps New York Central Lines.)
— Owns Franklin. O.. to Jackson. Mich., 205 miles; branch LewlsMUrg’ , ? ‘ ?,50 91Va rrlc.s .I 1 ?»•: trackage (O. O. C. & St. L.), Franklin' to Cin
cinnati, 38 miles; at Jackson, Lmlle. On Dec. 31 T7 Clev Cln Chic A
8 t. L. owned $1,707,400 o f the $3,000,000 stock and $581 000 bon d ?
Equip, trusts, see V. 101. p. 1713. Divs. Mar. 1910 and 191 i 3% -191 2
a n d fijR j. 1 K % ; 1914 and 1915, none; 1916, 1917, 1918 a n d l9 1 9 , 3 % ,
Annual compensation under contract with U. S. R R . Administration,
Calendar
Operating NeUafter
Other
Fixed
Divs.
Balance
Year—
1917...............$2,440,830
19 16 ..................... 1,909,947
'6 2 7 ,1 7 2
10,924
''185 474
"’oo nnn $9 A8 noo
- ( V ? 1 0 ? ' p K i f e dOrbilt Jr' : FCd' M gr-’ E ' M ’ Costin C^ncinna^i O
★ CINCINNATI RICHMOND & FORT WAYNE RR — Owns from Rich
mond. Ind., to Adams. 1ml.. 86 m.; leases 5 m. of P Ft w T c
N»w
sri
t r a s r ^ m & ssfw t
m i -
------S1.08|f729
1810...................................... ..............920,030
$ 280% 8
237,250
cr
$21(5.834
190,980
irS
"$09,804
46,270
★ CLEARFIELD & MAHONING R Y .-(S e e Map Buf. Roch. A Pius ) Owns road, completed In 1893. from Du Bols Jet Pa on Buf u * p ' tn
Olearfleld on Beccn Creek R R .. 20 miles. LeaseddurtngoorDorkte'exls^c’ncfi
and renewals thereof to Buffalo Rochester A Pittsburgh— which6s ^ — a^a
rental payable in gold and equal to 6% on $1 000 000 sto ck n a r $5oTaxcs
8 9 ^ 1 4 1 )b° ndS’ th6 lattGr b6lng g" ar' ’ P & i by e n d o S : i a(V
41
Last Dividend Places Where Interest and
and Maturity
Dividends are Payable
F & A Feb 1 1919 2% Cincinnati
M A N Nov 11942
Penn R R C o . N V
M A S Mar 1 1934
Treas. Pittsburgh. Pa.
2,990.000 13 In 1918 J A
D Dec 231918 6 ) 4 Cincinnati
2,453,400 5 In 1918 Q —M Mch 1 1919 H i
do
2 0 0 .0 0 0
4 H MAN 15 Nov Y 9-M ay'2l Bankers Trust Oo
1.350.000 „ 4K g J & D June’ 19-June’ 26 Guaranty Trust Co. N Y
3.000.
000 text March Mar 1 1919 3% N Y , Grand Central Ter’l
See
1 .0 0 0 . 0 0 0
4
J A J Julv 1 1951
Guaranty Trust Co, N Y
301.000
5 g M A S Sept 1919 to ’25 Commercial Tr Co.Phlla
1.800.000
A D June 1 1921
7g
WInsIow,LanlerACo..N Y
900,000
0
A . Jan. 11919
Checks mailed
650,000
5e
A , Jan 1 1943
30 Wall Street.New York
7,600.000
See text Dec 1910
Treasurer, Pittsburgh,Pa
4%
1.800,000
5 g M A S Moh 11927
WlnsIow.LanlerACo.N Y
1,023,000
4g
A
Aug 1 1940
do
do
495.000
4?
A
Aug 11940
do
do
1.667.000
4g
A
Aug 11948
Penna RR Oo. New York
47,056.300 See text
Sept 1 1910 2% Treas office. New York
1 0 .0 0 0 .0 0 0 See text
Q—J A p r211919 IK
do
do
—
2 0 C 1901
1 .0 0 0
viunuo UUO
ttUU C5WDU
XjO ZO1915
1 .0 0 C
Cincinnati Richmond & Ft W— 1st M gold Int gu«r_u8 6 1871
1 .0 0 C
Clearf'd & Mahoning—Stook 6% rent $1,000,000 auth
50
First mortgage gold guaranteed B R & P —n.xo*Ar
26 1893
1 .0 0 C
__
Cleveland Akron & Cln— Stook $ 1 2 ,0 0 0 ,0 0 0 . - . .
10C
Olev Ak & Columbus gen M (now first) gold__ o*
187 1887
500 Ao
First oonsol. mtge $4,000,0001 guaranteed p & 1 end 1 1871 1900
1.00C
gold sinking fu n d -........... } not guaranteed.xc* /
1 ,0 0 0
\ 1900
Cln & Mask Val 1st M $2,000,000 g gu a f ____F.xo*
148 1898
1 .0 0 C
Cleveland Cincinnati Chicago & St Louis—Com stook
__ ____
10C
Preferred stook 5% non-oumulatlve______________
... —
100
Refunding & Imp Mtgo (proposed) see textl
Underlying Ronds—
C I St L & C oon M drawn at 105 sink fund 1% _zo173 1880
1 ,0 0 0
578,000
9,e? A8.4 M *10.000.000 g s f not drawn-.Ce.xo Ar
1886 1,000 Ac 6.771,000
01 Col O & I Gen cons M ($12,000,000) g_.U s,xo*Ar
391 1884
1.00C 3.205,000
Indian A St L 1st M In 3 series of $007.000--Us.zo
72 1869
1.00C 2 .0 0 0 .0 0 0
Olev Cln Chic & St L White Wat Val D v 1st g-Ce.xo*
62 1890
1 .0 0 0
‘ 650,000
Spr & Col Dlv (Col Spr & Cln) 1st M g o ld .. Ce.xo*
45 1890
500 Ac 1.103.500
Cairo Division 1st M $5,000,000 g o ld ..
Ce.xc*
269 1890
1 .0 0 0
5.000.000
St Louis Dlv coll tr gold ($727,000 In s f) .Ce xo&r
194 1890 1,000 AO 9,216.000
Clnoln Wab & Mich Dlv first mtge gold__ Us.xo*
2 0 1 1891
1 ,0 0 0
4.000,000
Gen M 100 years for $50,000,000 gold___ Ba.xo* A
1 .0 2 1 1893
1 ,0 0 0 28.579,000
do
Series 11______________________ _
1 ,0 2 1 1893
1 ,0 0 0
4,101,000
Oh J * 'S t L S L 1st M $3,000,000 gold gu.Ce.xo* A
44 1903
1 ,0 0 0
3.000,000
Springfield Dlv lien held bv Peoria & East Ry
136 1890
5,000,000
Debentures to be secured (toxt)_____
1911
1 .0 0 0
5.000,000
‘ x" Ser. " A ” are J. & J.; ser. ‘ •11.” M. & S .f s'e'r" ” 0 '” " M.AN.
R E PO RT.— Year ending Dec."31 1917, V .'107. pT2372:
Gross.
Net.
Oth. Inc. Rents, A c. Divs.
08
When
Payable
APrivate
Control.
6
4g
6 g
7
4g
4g
4g
5x
4g
4
4K
1 A N May 1 1920
Q -F
Aug 1 1930
A J Jan 1 1934
“ x ” July 1 1919
A J July 1 1940
I A
Sept 1 1940
A
Jan 1 1939
Nov 11990
July 1 1991
June 1 1993
June 1 1993
A A O Apr 1 1953
irch 1 Apr 1 1940
A J Jan 1 1931
g
do
do
do
do
de
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
Treas. office. New York
Treas office. New York
DIVS. J ’01. ’02 to ’07. '08. ’09. *10. '11. ’12 T 3. 14-’ 15. ’ 16. ’17.
C om — % ) 3)4 4 yearly 1 2 2
0 0
0
0
-Pref— % J 5
5 yearly 5 5 5
5 5 3 K 0
2 X textDiyldends on pref. stock July 1910 to April 1919, 1 K % quar/(5% p. a.).
, J t f “ " dt!lVand Improvement Mortgage.— The stockholders will vote M ay 1
1919 (V. 108, p. 1511) on making a refunding and improvement mortgage,
to be unlimited in authorized amount, but the bonds to bo issuable only
under carefully guarded restrictions for funding and refunding purposes
and other capital requirements as may arise from time to time. Bonds will
be issued in series, bearing such rate of interest, redeemable before maturity
and at such price as the board of directors may determine.
The 4 14% debentures of 1911 and the 4% European Loan of 1910 will
be secured by such mortgage on a parity with ail bonds to be issued there
under.
The financial plan outlined in April 1919 calls for the issuance of $17,000.
000 of the new bonds In the near future to provide for paying or reducing
short-term obligations as follows: Secretary of the Treasury, $3,000,000;
Director-General of RRs., $2,000,000; bank and trust companies, $3,027,X 01-!5 9 l;?£.ra!-.R R - Co., $9,000,000. The company also owns
the N. Y. Central RR. Co. $2,266,824 on account of moneys advanced for
the purchase of coal lands.
On July 1 1919 $2,000,000 1st M . 7s of Ind. & St. Louis R R . Co. be
come due. (V. 108, p. 1511.)
OLD BONDS.— St. Louis Division bonds, see V. 52, p. 42-45.
mortoage Is limited to $50,000,000. On Dec 31 1914
517.090.000 Gen. 4s were reserved for prior Hens (exclusive o f Cairo division.
Peoria Division, Michigan Division and the St. Louis Division west of Terre
II.alJi5'iand the balance for equipment, construction and betterments, A c..
$1,000,000 yearly. See V. 79. p. 733; V. 83. p. 379; V. 87. p. 1010; V. 9o!
P Umu, 1044: V. 94, p. 1118: V. 97. p. 1114: V. 98. p. 1459; V. 101. p. 2144.
Guar. Chic. Ind. A St. Louis Short Line R y .. Cent. Ind. R y. and
“ 7- ’* ’• “ * • 2280!
{ aGuarantees
i.'ia ir jsEvmsv.
f.K 'feMt.
ir /X
i.f.J S i; 778- iu i: v- “ ■ *• « » • **»•
Oarmet A Northern Ry. bonds. V. 95. p. 890
As to the $9.650.181 4s sold May 1910. payable In francs, and $10,000,000
Guarantees Jolntiy with other roads Gen. A Ref. bonds or Indianapolis
Union Ry.. which see. V. 100. p. 555.
Jointly with other roads covenants to pay New York Central Lines
equipment trusts of several Issues, the amount outstanding Dec. 31 1917
° ? ,a^?Su2^ of equipment so acquired by the C . O. C. A St. L. being: Issue
of 1907. Sl.233.449; 1910, $1,397,380; 1912. $1,439,012; 1913, $1,167,337.
V. 85, p. 1401; V. 86, p. 168: V. 8^. p. 761: V. 90. p. 1677; V. 9 3 ;p . 1726?
, J £ ? uip,1?lent trust 1817- $2,133,000, sold in Mar. 1919. V. 108, p. 973,
P- 2021: V- 107. p. 695. See "Finances.”
total owned, 335 m. Owns a fourth lnterest’ ln Akron A Barherton ReiV
5?C>V E R ,\ M ENT CON TRACT.— The contract executed by company
R R .. 24 m.. and half Interest In Zanesville Term R R . 5 m V 7 0 n 4 3 6
with the Director-General, under the Federal Control Act, provides for the
A consolidation July 1 1911. Pennsylvania Comvany owns * 7 * 4 0 7
payment of an annual compensation of $9,945,738. Other income from
^ o r a t S X n^ r a s y l f L '^ 7i ^ 8 corporate sources will add to this in 1919 approximately $883,220, making
a total estimated income of $10,828,958. Of this there will be expended
fim o ^ n o tk e th e °n “ t ^ r n l U ^ g ^ t o
, tiV??si/, n.tore?t • rer>ts and corporate expenses an estimated amount of
$6,800,820, leaving $4,028,138. See "Finances” below and “ Ref. A Impt.
M tge.” above.
FINANCES.— Capital stock per mile o f road owned, directly or through
proprietary cos., Dec. 31 1917, $31,365; bonded debt. $54,549.
V. 71. p. 390; V. 76. p. 653; V. 77, p lVifi' 2280
'
Company.
In April 1919 the annual installments on equipment trust certificates
A6 -VenTnC? b f 7SOv ? ^ raS60W 6C9 9 r & V sk- Val. bonds; see form, V. 76. p. outstanding amounted to $1,359,739. Other equipment costing approxi
mately $7,500,000 was allotted to company by Director-General in 1918,
deductions91S463.242; f u r f f i ,2|i'19n?t58
£**522 )nC° m6’ $68'6^
25% of the cost of which Is to be paid for In cash. It is expected that
trust certificates for the remainder will be taken Dy him, on
* C VKVW
& ST.’ l OUIS R Y .-lS e e Map, equipment
which the annual installments will amount to approximately $500,000,
westerly ^o^Chlca^oF^eorla^^C^irol- R l F S t^ L o iil^ e a s t^ r !^ ^ S*andu?ky ’ making equipment trust certificate payments for 1919 of about $1,860,000.
The Director-General, however, has agreed that the equipment depre
0 l 6»
f r “
8 aDd ClD° f t 1, ° - and 80Utilerly
Louisville.
' ciation and retirement funds which, under the contract with the company
ho currently accrues may be applied toward equipment obligations. The
Cleveland, O., to Springfield, 0 — 183 Cincinnati Sandusky A Cleve. R Miles
R .—
amount of this accrual for the year 1918 was approximately $1,700,000,
Gallon, O., to Indianapolis_____ 203
Sandusky, O., to Day’ 11, O.. Ao.170 so
that the company’s expenditure on account of the cost of equipment will
Springfield to Indianapolis______ 13 7
Trackage
Into
Cincinnati,
Ao_
05
is expected, be lightened by this arrangement. V. 108. p. 1610.
Delaware to Springfield__________ 5 0 Trackage into Jeffersonville___
52 it EARNINGS.—
12 m os.,11918........ Gross, $71,403,970; net, $19,508,682
Olnolnnatl to Lafayette_________ 1 7 0 Trackage
into
Toledo
(V.
79,
p.
Harrison Branch______________
7
11917........ Gross, 52,650,920: net, 14,591.499
1023, 2696).............................
47
Cairo to Danville_______________ 2 0 0
REPORT.— For 1917 (incl. Peoria A Eastern R y.), V. 106, p. 2003.
Year ending Dec. 31—
1917.
1916.
1915.
Indianapolis to East St. Louts, _ *249
Total
Included
In
earnings-.2,387
Hillsboro to Lenox_____________" gg
Mi es operated.....................................
2,387
2,387
2,385
(Double track 545 miles.)
Dayton to Ludlow Grove_______" 4 7
Railroad revenues................................. $52,650,920 $46,678,240 $38,364,087
Other--------------------------------------- ' on
Operating Income (after taxes)............$11,848,205 $13,763,702 $9,314,103
Leased— (x entire stock owned)—
Other income......................................... 1.563,625
1,297.643 1.134.835
Operated; earnings kept separate—
Olnolnnatl Lafayette A Ohio. Ry 5 7 Cincinnati
Northern_________ *206
® ?^
o r^ eniJ?£?me....................$!3,411.830
$10,448,938
Whlto Water— Harrison. Ind. to
Rentals of
leased
lines____
$566,679 $15,061,345
Kankakee
A
Seneca
R
R
______
42
$571,041
Hagerstown, Ind-----------Tno Mt. Gilead Short L ine..............
Interest on bonds, A c___
. 4,737,267
2
4.798,088
5,089410
Cincinnati Wabash A Mich. Ry".—
Hire of equipment, incl.Interest . - - 1,804,642
Loulsv. A Jeffersonv. B ridge..
*4
519,461
556,184
Benton Har. to Rushv., Ind x204
Other re n ts.............................
924,844
747.679
704,150
Leased and Controlled—
Miscellaneous...............
221,502
Total of system Dec 31 T 7 ..2,041
300.169
207.525
Peoria & Eastorn Ry.—
Equipment depreciation a c c o u n t
..
.750.000
„„„
Trackage 111. Cent. Into Chlo.1
Springfield, O., to Pekin, III 201
On percentage basis_______ /
gg Dividends on preferred......................(5% )499.925(3K)374.944
Vernon Greensb. & Itushv. R R .—
Operates Independently—
................................. $4,656,972 $6,999,964$3,320,926
Rusbvllle to No. Vernon, ind 4 4 Dayton A Union R R .*________
47
O F F IC E R S ^ P res., \V. K. Vanderbilt Jr.; Vice-Presidents,
A. H.
Evansville M t. O. A Nor. R y . ' 3 3
‘ See this oompany.
Harris and J. Carstensen ;Sec., Dwight W. Pardee; Treas., Milton S. Bar
. ou^T?-RJ ’l.* °‘r 7 ^ 0 0 iy oly at,on ° f the Cincinnati Indianapolis St. Louis ger, N. Y .; Federal Manager, E. M . Costin; Federal Treas., Rush M .
fhS Tnmh” ?IeJ.e_la.nd Columbus Cincinnati A Indianapolis Ilarry, Cincinnati.
Directors.— William K. Vanderbilt, Wm. K. Vanderbilt Jr., Fred’k W .
Vanderbilt, Ohauncev M . Depew, Geo. F. Baker, Wm. Rockefeller, H. S.
Vanderbilt. Walter P. Bliss, W. O. Brown, New York; Charles T. Lewis
13 purcbased subsidiaries' (V .9 5 , p.“ 418* 890 T 47T V . 97V i l l i ' i t i V
Horace E. Andrews, O. B. Seger and E. S. Harkness, Cincinnati.—
V. 107, p. 695, 1003, 1099. 1191; (V. 108, p. 973, 1060, 1511.)
11hrnM<
7h°
x»pnr
° ? e" r!glltl1 owner of Peoria A Pekin Union Rv.
rT * , Eaat" . Ry )> one-flftoenth owner In Terminal RR. ★ CLEVELAND & MAHONING VALLEY R Y.— Owns Irom Cleveland, O .,
r h ^ r n H i an<1 4wo*afths owner of Indlanap. Union R y.. and to Penn. State line, 81 m. (77 double track); Niles. O., to Lisbon. O.
P i n i n g ; , m h lana R y - Cent. Union Depot A Ry. of Cincinnati. 36 m.; Girard to Youngstown, O., 6 m. Leased to Nypano RR. (formerly
N. Y. Penn. A Ohio) under new lease dated 1917: rental, $550,967, with an
d e Col^Ry*.1, op^at<Sbindep^mlontiy?*011 R y " Dayt° n & Unl° n R R " Mun' additional
amount contingent. The shareholders voted Feb. 23 1917 (a)
42
★ Control.
Government
^Private
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
'■For abbreviations, Ac., see notes on first page]
Cleve Cine Chic & St Louis (ConcO— Debentures..- Big Four Ry equip trust due $373,000 yearly Q.c*
do do equip trusts g guar due part yearly— ao do equip trust due $237,000 yearly----- c*Q
Central Grain Elevator 1st M assumed.....................
Obligations of Proprietary Lines.
Cincinnati Sandusky & Cleveland— Preferred stock.
Consol (now first) mtge 53.000.000 gold -AB.zo
Central Indiana IstM (guar
of$ 1.500.000)-Ce.xf
Evansv Mt Car & No 1st M $5,000,000 gu Q .xc*&r*
Louisville & Jeflersonvllie Bridge 1st M—See thatCo
Indlanap Un Ry Gen & Ref M $ 10 ,000,000 See text
Cleveland Columbus Cincinnati & Indianapolis—Cleve
Cleve Lorain & Wheeling— See Baltimore & Ohio
Cleve & M V— Pref stk 44*% cum ($2,851,800 auth)
Cons M (now 1st) $3,000,000 g...........Ce.xc&r
Cleve & War—See Toledo Columbus & Ohio RlvuR j.
Cleve & Pittsburgh— Stock 7% guar by Penn F
Stock 10% guaranteed by Penn RR C o .- - - Special betterment stock $28,738,135 auth guar 4%
Gen M $10,000,000 gold..F)Series A & B.........xo*
Guaranteed prln and lntVSerles 0 & D------- xo
(endorsed) Penn RR..JSeries B lnt reduced..
Cleveland Short Line— See New York Central R I
Cleveland Terminal & Valley— See B alt* ,9 5 *°-rj *
Coal & Coke Ry— First mortgage $5 ,000,000 gold
Coal & Iron—See Western Maryland. Coal Rlv“
“
Colorado Midland RR— 1st M $2,000,000----
Miles Date
Road Bonds
*
____
Par
Value
Amount
Outstanding
1910 500$fr&o $9,650,181
1914 1 , 0 0 0 &c 4.103,000
1.265.000
1 ,0 0 0
1915
2,133,000
1 ,0 0 0
1917
2 1 2 ,0 0 0
1905-6
170 1888
Its 1903
1910
50
1 ,0 0 0
1 ,0 0 0
428.997
2,571.000
750,000
2,118,000
Rale
%
4
6
5g
6
5
When
Payable
J
J
J
J
M
M
5g J
4g M
44* g J
6
C o n t r o l.
Last Dividend Places Where Interest ant
Dividends are Payable
and Maturity
& D June 1 1930
& D To June 1929
Sc J July 1919-1929
& D To June 1927
& N Various
Se N M ayl 1919 3%
do
do
A J Jan 1 1928
& N May 1 1953
(All owned by Big Four)
Sc J July 1 1900
and I adlana polls St Louis & Chi cago— Se e Clevela nd Cincinnati C hloago & St Louis
HK
41* A Sc O New— see text
50 N’n Mar ’19
Winslow. Lan Se Co..N Y
5 g See text. Jan 1 1938
123 1888 l.OOO&o 2,936.000
Winslow. Lan & Co. N Y
C— M See toxt
7
50 11,228,300
. . . .
do
do
5— M Mar 1 1919 24*
9.450
10
50
do
do
Q— M Mar 1 1919 1%
4
50 17,369.450
do
do
Mar-Oot
1942
4
4*
g
X
4,560,000
1 .0 0 0
205 4* 1892
do
do
1948-1950
3W g
3,876,000
1 ,0 0 0
y
205 M •98-00
do
do
3 4* g A Se O Oot 1 1942
349.000
1 ,0 0 0
205 4* 1892
o
Apr 1 1924
Pledged
5 g A Se
1 ,0 0 0
197 1919
— See Chesap eake & O hlo.
(?)
—
1917
Deo 31 1912 1%
31,000,000
100
. . .
A Se o Doc27 1918 2%
8,500.000
100
A Sc o Dec 27 1918 4%
8,500,000
100
1882
19,400,000
4 g F A A Feb 1 1929
1 ,0 0 0
1898
1 ,0 1 1
Flrst mortgage gold *20.000,000--------- ...E q .zo
4 4* g M & N May 1 1935
1 0 0 &o r30.803.90C
Text 1905
Capita l Stock
J Sc D Dec 1 1921
8.176.000
6 g
1 ,0 0 0
454 1881
840,000
1 .00C
44* M As N M ayl 1925
1915
J Sc D Dec 1 1937
6
300,00C
1 .00C
1907
5 g J & J Jan 1 1930
1,255,00(
1,00C
74 1900
Col Spgs & Crip Cr D Ry— 1st M S2.000.000 gsfCez
A & O Oct 1 1942
1.379.00(
5g
1.00(
1902
First consol mortgage $3,600,000 gold-.G.xc&r
r Add tlonal $4,79|0,446 on Dec. 31 1 917 owned or co
x Series "A .” J & J; "B ” A & O. y "C ” . M & N; •D.” F & A
1
to Issue $2,851,800 pref. (a. & d.) stock for Impts., elimination of grade
crossings, &c. (none issued to Oct. 15 1917); (5) to make a modified lease for
999 years from Mar. 9 1917, during the corporate existence and all exten-
11.40%: 1912. 8 t* % ; 1913,' l l . 20%; 1914. 11.25%: 1915. 11.40%; 1916.
11%; 1917. 11.75%: 1918. 10.75%.— (V. 104. p. 1701.)
★ CLEVELAND & P I T T S B U R G H R R . — {See Map Pennsylvania RR .)—
Cleveland. O.. to Rochester. Pa., 122 miles: branches: Bayard. O., to Ros
well. O., 38 m.; Yellow Creek to Bellairo, 43 m.; branches to Denver and
Valley Jet., 2 m.; trackage, Rochester to Pifctsb. (P. Ft. W . & Chic.), 26
m.; other trackage. 23 m.; total, 255 miles.
LEASE.— Leased for 999 years 1871 to Penn. R R . Co. and since Jan. 1
1918 operated directly by that company. Rental, divs. on stock, lnt. on
bonds and organization expenses. "Special guaranteed betterment stock
(subordinate to the original stook as to dividends only), with dividends or
4% guar, bv the Penn. R R ., Is Issuable for Impts. V. 79, p. 2205, 2642.
V . 83. p. 625: V. 85, p. 1082: V. 87. o. 812; V. 91. p. 1446: V 93. p. 1785:
V. 96. p. 135: V. 97. p. 1425: V. 98. p. 999: V. 100. p. 1 3 4 8 . Of the special
guaranteed 4% stock. Penn. Co. owned on Dec. 31 1917 $5,520,200.
V. 101, p. 1464, 448: V. 92, p. 1031, 1108. A special dividend of 1% was
paid March 1 1919 on the 7% guaranteed common stock.
BONDS.— All equally secured: guaranty, V. 56, p. 604; V. 106, p. 259CLEVELAND UNION TERMINALS CO.— In Dec 1917 applied to
Ohio P. U. Commission for authority to Issue $2,500,000 First Mtge. 6%
25-year bonds and also to Issue $500,000 In stock for the purchase of land
in Cleveland for terminal facilities. (V. 108. p. 378.
Forms part of
Cleveland & Youngstown R R ., which as agent for N. Y . Central R R ., has
urchased lands in Cleveland and is constructing a high level freight yard
i that city.— (V. 107, p . 905. 1191. 1836, 2187; V. 108. p. 267, 378.)
CLEVELAND & YOUNGSTOWN R R .— See Cleve. Torm. Co. above.
★ COAL & COKE R Y .— Owns from Elkins. W. Va.. to Charleston. W. Va.
175.1 miles; Mabie to Belllngton, 16.1 ra.; branch, Gassaway to Sutton.
6.5 m.: total. 197.3 miles. About 100,000 acres o f coal lands were owned.
In Feb. 1917 Baltimore & Ohio RR. acquired the entiro capital stock, viz.:
$8,960,900 common and $10,000,000 5% preferred. V. 107. p. 1287; V. 85
p. 1095. The $5,000,000 First Mtge. 5s, due April 1 1919, were re
tired at maturity with funds provided by tho B. & O ., about $2,150,000
thereof being treasury cash and the remainder from sale of $3,000,000
B. & O. Collat. Trust 5-year 6% gold bonds, secured by jnledgo of the
entiro $5,000,000 issue o f Coal & Coke Ry. bonds, due 1924. Federal
M gr., C. W. Galloway, Baltimore, M d. V. 108, p. 1274.
The Inter-State Commerce Commission has certified the standard re
turn o f this property to bo $282,323.
(THE) COLORADO MIDLAND R R .— Owns from Colorado Spring,
to New Castle, Col., through Busk-Ivanhoe tunnel, 221.92 miles; branches.
Basalt to Aspen, 19.37 m.; Cardiff to Spring Gulch, 15.01 m.; Arkansas Jet.
to Leadville, 4.80 m.; total owned, 261.10 miles. Leases Rio Grande Jets
R y ., Rifle Creek to end It. G. J. R y ., 62.08 m .; trackage to Rifle Creek,
&c., 14.46 m.; total, 337.64 niles.
ORGANIZATION.— Successor June 1 1917 o f the Colorado Midland
Railway (V. 64, p. 1224, 1226), sold under foreclosure o f 1st M . April 21
1917 to A. E. Carlton and associates o f Colorado Springs, for $1,425,000;
sale confirmed May 11. V. 104, p. 1701, 2010, 2342.
In July 1918 an application o f Colorado Title & Trust Co. of Colorado
Springs, trustee, o f $2,000,000 mortgage securing bonds, interest on which
was m default. President A. E. Carlton was made receiver and ordered
to stocp the operation o f the road, which ho did Aug. 5. In Jan. 1919 the
dismantling or the road was sanctioned by the Colo. P. S. Commission ex
cept as to 20 miles from Colorado Springs to Divide. Litigation pending
at last advices. V. 108. p. 267. V. 107, p. 180, 603, 695, 1287, 1579,
2289. Sale o f rolling stock, V. 107, p. 1836; V. 105, p. 2183: V. 104, p.2342.
CAPITAL STOCK.— V. 105, p. 2183; V. 104.P-2342.
E A R N IN G S.— 8 mos., 11918...G ross, $981,546: net, def. $151,184
Jan. 1 to Aug. 31. \1917---Gross, 382,372; net, def.
18.427
Calendar Year—
Gross.
Net Def. Int.,Rents,&c. Deficit.
1917.................................... $1,101,932
$9,914
$134,269
$144,183
— (V. 107, p. 1579, 1836, 2289; V. 108, p. 267. 479.)
★ COLORADO & SOUTHERN R Y .— Oporates a system of roads from
Guernsoy, W yo., through Denver to Fort Worth, Galveston, Houston,
Dallas, &c. Total oper. Dec. 31 1917, 0.000 miles, viz.: (*whlch see):
Controlled—
731 Miles.
Lines operated—
Miles.
Colorado & Sou. Ry. (owned)__ 876 Denver Se Interurban RR______20
Fort Worth & Denver City.........*454
Trackage rights, inci. 118 m.
Wichita Valley Ry......................... *52
Denver to Pueblo over Atch.
Topeka & Santa Fe................... 134 Wichita Falls & Oklahoma...........23
Wichita Valley RR......................... 61
Controlled Lines—
Colorado RR................................. 121 Abilene & Northern......................... 39
Stamf.* N W. Ry.(V.89. p.1281) 82
Also leases Colorado Springs Sc Cripple Creek Dist. Ry., 74 miles (owned)
to Cripple Creek Central Ry. V. 94, p. 123. As to Colorado Midland
(foreclosed in 1917), soo that company and V. 106, p. 2231.
In April 1906 acquired a one-half interest in the Trinity Sc Brazos Valley
Ry.,owning a line from Cleburno to Houston, Tex.,236 miles, with branch to
Waxahatchie, 67 miles. The suit against Ch. R. I. & Pac. Ry. to compel
payment of latter’s share of cost of building the T. & B. V. Ry., was settled
For about $4,500,000 cash. V. 108, p. 378, 479, 1610. V. 103, p. 2428.
See that co. and V. 98, p. 1920.
ORGANIZATION.— Reorganization Jan. 1899, V. 07, p. 748. In
Deo. 1908 the Chicago Burlington & Quincy acquired $23,657,500 common.
V. 87. p. 1663, 1604: V. 88. p. 158. 685.
„
„
_ lt
Owns a large majority of the com. stock of Fort Worth A Denver City
Ry.. which see. Controls Denver Sc InterUrban (Electric) Railway
which owns 20 miles, and operates31 miles of Col. &Sou.. electrified, under
lease. V. 87. p. 950; V. 89. p. 934.
E
(Vol. 108.
Elkins. W Va. or Balto
Office 26 Liberty. N Y
do
do
do
do
do
do
do
do
Ofrice, 26 Liberty St, NY
Fidelity Trust Co. Phlla
Office, 26 Liberty St. NY
Jan 1919 coupon unpaid
Oct 1918 coupon unpaid
ntrollod by the co.
Annual compensation under Govt, contract, including Wichita Valley
Ry., $2,833,579; Fort Worth & Denver City Ity., $1,891,386; total, $4,724,
965. V . 107, p . 2375.
DIVS. 1 ’04. '05. '06. ’07. ’08-'ll. •12. ’ 13. •14-’ 15. 1916. ’ 17. 1918
4
4 None Oct,2% . 4
4 4 yrly 4
4
0
1st p r e f' >[ 2
4
4
4 None ______
4 4 yrly 4
■1 -_________>
-
0 None ______
. . 2 yrly 1
JThe directors in March 1918 voted to postpone action in regard to the
April 1 dividend on tho prof, shares until tho contract with the Govt, was
signed. In Nov. 1918, accordingly, 2% was paid on the first pref. and on
Dec. 27 2% on first pref. and 4% on second pref., thus providing for the
amounts due April 1 and Oct. 1 1918. V. 107, p. 2289, 2475.
BONDS.— 1st M.. see V. 68. p. 1027: V. 77. p. 2158: V. 87. p. 444. 1160.
The $100,000,000 Refunding bonds of 1905 were made Issuable as follows.
For Refunding bonds and equipment obligations of s y s t e m .....$.36.850,000
For betterments and improvements. Including equipment, at the
cum. yearly rate of S500 per mile of operated & controlled lines 15.000,000
For reimbursement of the treasury of the company, &o............... 2.5no.(ion
For acquisition of additions (incl. double-tracking)................... 45,650,000
The Refunding bonds are secured by a first lien on all the bonds and prac
tically all the stock of the cos.owning about 706 miles of road. Including the
Wichita Valley lines and the Trinity & Brazos Valley R y.; also, by direct
Hen, subject to the first mortgage, on about 1,011 miles of road owned by
the Colorado & Southern and on tho stock of subsidiary oos. whose bond*
are not pledged under the mortgage, owning 550 miles of read, making
1,604 additional miles,on which there are outstanding $30,803,900 under
lying bonds: total thus covered, 2,304 miles, on which the total outstanding
funded debt. Including these bonds and all prior liens, averaged $26,471
per mile. V. 80. p. 1791: V. 91. p. 462. 214: V. 93. n. 1021.
O r the Fort Worth & Denver Terminal bonds, $300,000 sold and $428.00
held bv Ft. W. & D. O. Ry. V. 86. p. 52. 1100: V. 87. p. 949.
On Oct. 1 1918 interest on tho $1,379,000 First Consols of the Colo.
Springs & Cripple Creek District Ry. (leased to Cripplo Creek Central
R y.) was not met at maturity. V. 107, p. 1669. See that co. below.
EARNINGS.— Including Ft. Worth Sc Den. City and all affiliated lines.
Twelve months from /1918........ Gross, $20,906,169; net (before $5,492,556
Jan. 1 to Dec. 31. \1917____ Gross, 17,513,527; taxes)
6,683,589
REPORT.— Report for 1917, showing operations or system, Incl. the
Ft. Worth Sc Denver City and Col. Spr. & Crip. Cr. Dist. R y .. Denver &
Interurban R R ., Colorado R R ., Ft. W . & Donv. Term. R y., Wichita Vail.
(RR. & R y.), Abilene Sc Nor. R y., Wichita Falls & Okla. Ry. and Stamford
& Norw. Ry. in V. 106. p. 2221.
_
,
Calendar Years—
1917.
1916.
1915.
Average miles
_ ________
1,841
1,842
1,829
Total operating revenues___________ $18,685,810 $16,469,279 $14,745,665
Operating expenses_________________ 11,596,301 10,085.532 10,071,277
Net earnings______________________ $7,089,509 $6,383,947 $4,674,388
Total net Income...............................- $6,841,932 $6,347,780 $4,575,975
Interest charges____________________ $2,845,530 $2,861,164 $2,860,986
606,840
475,389
Rents, &c__________________________
389,129
68,301
67,432
Sinking funds.......................- ............
.30,457
280,220
Additions and betterments.................
250,723
.....
„................ . appropriations
...............................................
600.000
Miscellaneous
Dividend on 1st pref. stock________ (4%)340,000(2%) 170,000
--------Dividend on 2d pref. stock________ (4%)340.000
----------------Baianco, surplus, for year..........
$2,640,093 $1,993,575 $1,039,848
OFFICERS.— Pres., W . H. Anderson, Chicago: Sec. & Troas.,, Charles
E. Perkins, Denver, Colo.; Asst. Sec. & Asst. Treas., T . S. Howland,
Chicago, III.: General M gr., under U. S. G ovt., Robert Rice, Denver.—
(V. 108, p. 170, 378, 479, 1610.)
ACOLORADO SPRINOS & CRIPPLE CREEK DISTRICT RY.— Colorado
Springs to Cripple Creek. Col., 47 in.; branch, Cameron to Victor. 5 m.;
other branches and spurs, 22 m.; total, 75 m.; of whloh 57 m. »team. 16 m.
steam and electric and 2 m. solely eleotrlo. In Jan. 1905 Colorado &
Southern acquired all the stock except $900 com. V . 80, D. 472, 1111. 1423.
Leased to Cripple Creek Cent. Ry. system to May 1 1935. V. 94. p. 123.
Jn April 1919 suit for a receiver for the property and the foreclosure o f
both tho First Mortgage and First Consolidated Mortgago were pending
or proposed. Tho company’s difficulties are attributed to the diversion o f
the freight traffic of the lessco and its failure to pay the agreed rental.
Termination of tho lease by tho lessor, in view of the lessee s default, and
operation of tho road In tho interest of tho bondholders were planned.
V. 108, p. 479.
On Oct. 1 1918 tho Interest on the $1,379,000 First Consols and on Jan. 1
1919 tho interest on tho $1,255,000 First Mortgage bonds went unpaid.
Committees: (a) For 1st M . 5s (majority deposited): James Timpson
(2d V.-Pres. Mutual Life Ins. C o.. N . Y .), Chairman; Central Union Trust
Co., depositary, (b) For 1st Consols (majority deposited): F. J. Llsman
of N. Y ., Chairman; N. Y . Trust Co., depositary. V . 108, p. 170, 378,
479 578
** * *
Stock, all outstanding, com ., $1,200,000; pref., 5% non-cum.. *800,000.
Par of shares. $100 each. Dlv. 5% on pref.. paid Feb. 1907, June 1908 and
Nov. 1 1909. On com., 2% , Sept. 1908. Sinking fund to retire first mtge.
bonds yearly at 110 for first 15 years, then at 107 4* for 5 years, then 105 for
next 5 years. 102 H for 3 years, thereafter at par. V. 70. p. 345.
Pres., C. E. Perkins.— (V. 108, p. 170, 37. 479, 578.)
(THE) COLORADO WYOMING & EASTERN R Y .— See page 133,
A COLUMBIA NEWBERRY & LAURENS R R .— Columbia to Laurens.
8. C. 75 m. Stock, $500,000. Bonds were 6s, but reissued as 3s In 1900,
Income certificates to amount of 40% of bonds being Issued. Bonds Issued,
$899,000; In treasury Doc. 1917, $11,000. At last accounts had also out
standing $359,600 5% non-cum. certfs. for funded coupons, and on Dec. 31
1917 loans and bills payable, $24,622; equipment notes Oct. I 1918, $15,984.
Year ending Dec. 31—
Gross.
Net.
OtherInc.iChargcs. Surplus.
.............. . . — .$550,621 $120.973W$7,487 $86,244 $42,216
1918
1 9 1 7 : : : : : : : : : : : : : : : : : . . 4 1 2 .0 3 0
1 4 8 :3 4 3 ® 5 .6 2 0 x 1 8 2 ,5 2 3
7 1 .4 3 5
President, J, F. Livingston, Columbia, 8. C.
....
A p r ., 1919.]
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
(For abbreviations, A c,, see notes on first page]
Miles Date
Road Bonds
Par
Value
^Private
Control.
43
Amount
Outstanding
When
Last Dividend Places Where Interest and
Payable and Maturity
Dividends are Payable
C olo Springs & Cripple Cr Dlst R y — See Oolo Sc So Ry
Col Wyom & East— Lar. II. Pk & P 1st M g .A B .zc*
$1,000
1904
$240,000
July 1 1929
American Tr C o, Boston
1st & Ref M $2,500,000 gold red 1024*........... .
100 Ac
1914
550.000
J July 1934
Guaranty Trust Co. N Y
Gen M (Income) $1,600,000 gold red par text_____
100 Ac
1914
1.600,000
July
1
1944
Colum Newb & Laurens— 1st M $12,000 per m.SBaz
1.000
1887
888.000
J A
July 1 1937
Safe "Dep ~&*Tr*Co," Balt”
Columbia & Greenville—See Southern R y— Columb
oledo—See Hook Ing Valley
Columbus & Xenia— Stock 8% rental_______________
60 1.786,200
M
c
h
l0
’
19
2>.%
Treasurer,
Columbus, O
Concord & Claremont (N H ) — First mortgage_____zo
1,000
1914
500.000
Jan 1 1944
M et Trust Co, Boston
Concord & Montreal—Stock Class I (B O A M pref)._
100
800.000
Apr 1 1919 1 Checks mailed
Stock Class II (B C & M new).........................
100
540.400
Apr 11919 1
do
Stook Class III (B O A M old stock).................
100
459.600
Apr 11919 1
do
Stook Class IV (Concord) (text)________ __________
100 6.457.600
Apr 1 1919 1
do
Oonoord A Montreal eons M lor $5,50O,000.BB.zo*
262 1890
1.000 5.500.000
June
11920
Safe
Dep
A Tr Co, Boston
Deben bonds cur. ($650,000 4s; $400,000 3 4*s) _.zc*
97-99
1.000
1.050.000
June 11920
Boston S D A Tr. Boston
do
do $473,000 34*s; $200,000 6s.........z
1,000
673.000 3 « 7& 5
’09-14
June
1
1920
do
do
Concord & Portsmouth—Stook 7% rental 99 years.. 39.82
350.000
100
A
Jan 1919 3J*% Manchester, N H
Conn & Passumpslc— Pref stook 6% rental 99 yrs..o*
100 2.500.000
A
Feb 1 1919 3% Safe Dep A Tr Co.Borton
First mortgage $1,900,000 gold.............................zo*
1,000
1893
1.900.000
A
Apr 1 1943
do
do
Massawlppl stock guar same dlv as Conn & Passump
100
400.000
A
Feb 1919 3%
do
do
Newport & Rlohford 1st M gold guar by O & P .zo*
1,000
1911
350.000
A
Jan 1 1941
do
do
Connecticut River—Stook $3,670,300 authorized____
100 3.233,300
A
Jan 1 1919 5% Boston. Mass
Bonds not mortgage lor $1,000,000 gold________ zo
1,000
1893
1.000.000
A
Sept 1 1943
Mch 1919 Int. paid.
Bonds not mortgage____________________________ _
1.000
1901
290.000
Jan 1 1921
Jan 1919 Int paid
do
do
___________________________ z
1903
1.000
J A J Jan 1 1923
Jan 1919 Int paid
Notes, extended to Aug 31 1916 (V. 103, p .7 5 8 )...z
1915 1.000 Ac
2.000.000
Aug 31 1916
Int paid to Feb 28 1919
6% notos due June 1 1916 extend to Aug 31 19161915 1.000 Ac
450.000
Aug 31 1916
Vermont Valley RR notes guar ext to Aug 31 1916 1915 1.000 Ac 2.300.000
F & A31 Aug 31 1916
Aug 1918 int pdwhen due
Conn (Phila)— 1st M $15,000,000 guar p& l.GP.kvc*
36 1911
1,000 7.000.000
M 15A S Mch 151951
Treas Pa RR Co, Phila
Connellsville & Monong— 1st M g s 1 red par.UPI xc Ar
1.000
597.000
1905
M A S Sept 1 1930
Union Tr Co. Plttsb, la
Copper Range— First mortgage gold (see text)_____x Text 1899
500 Ao a2,280,000
A A O Oot 1 1949
Old Col Tr Co, Boston
Copper River & Northwestern— 1st M $50,000. OOOdxc*
1909
1,000
23,020.000
197
F A A Feb 1 1959
J
P Morgan A C o. N Y
Cornwall & Lebanon— See Pennsylvania RI1
Cripple Creek Central— Common stook_____________
100 2,500,000 3 In 1918
!.-M. See text
Checks mailed
Preferred stook 4% non-oumulatlve
100 3. OIK), 000 4 In 1918 J.-M. Mch 1 1919 1%
do
Midland Term first mtge gold sinking" fund.” Rxo*
41 1895
1,000
332.000
5 g J A D Deo 11925
Farmers’ I. A T Co. N Y
Cuba Eastern— See Guantanamo A Western
969.000
JF V 3^
a Of this amount $1,410,000 In the hands o f public and $8 70,000 held by Copper Ra nge Co.
★ COLUMBUS & XENIA RR.— Owns from Columbus, O., to Xenia, O.
65 miles. Operated as a division of the Little Miami, and Is leased for 99
years from Deb. 1869, In connection with that road, to the Pittsburgh Cin
cinnati Chloago A St. Louis, which pays 8% on stook
The lease Is guar
anteed by Pennsylvania R R . Co. Since Sept. 1913 to March 1919, lncl.,
tho quarterly dlvs. In Sept, and Mar. havo been 2 1-5% , making tho yearly
dlv. rate 8 2-5% .— (V. 72, p. 532.)
★ CONCORD & MONTREAL RR.— From Nashua, N. H .. via Concord
Plymouth, Ao., to Groveton and the White Mountains, 450 miles In all
Inoludlng Manchester A Keene. 30 m.; owned Jointly, 414 m.; 35 m. double
track. Owns Concord Street Ry., 11 m.; also eleotrlo branch from Concord
to Manchester, N. II.. 17 miles, and Nashua A Acton R R ., 20 miles.
On June 29 1895 leased to Boston A Maine for 91 years at rental o f 7%
per annum on all stock. In 1916 the Boston A Maine was placed In re
ceivers’ hands, but In June 1918 the bond Interest and dividends o f this com
pany were being paid as usual (without affirming or disaffirming lease)
See merger plan under B. A M .— (V. 107, p. 1099, 1919, 2289.)
★ CONCORD & PORTSMOUTH RR.— Owns Portsmouth. N. II. to Man
ohester. N. II.. 39.82 m. Leased to Concord RR. In 1862 for 99 vears: renta
$25,000; 7% on stock and org. exp. Operated by Boston A Maine
★ CONNECTICUT & PASSUMPSIC RIVERS R R .-W h lte River Jot.. Vt.
to Canada Line, 110 m.; leases 999 years Massawlppl Valiev 37 miles
Owns all the stock ($350,000) of the Newport A Rlohford RR New
port. Vt., to Canadian line, 21 miles, operated under lease by Montreal
B° , M * L° " " ' « 09 " • »
SECURITIES.— Massawlppl stook receives same dividends as stock of
lessee and $400,000 of It (not Included In the amount outstanding) Is nledired
as part security for 4s of 1893. Of the $2,500,000 pref.. $700 000 *as also
$100,000 Massawlppl Valley Ry stock, was purchased Feb. i m o by the
Vermont Valley.— (V. 106, p. 395.)
★ CONNECTICUT RIVER R R .— Owns from Springfield, Mass., to Ver
mont Line at Brattleboro, 59.13 miles; branches, Chicopee Falls 2 °6 m •
Kasthampton, 3.26 m.; East Deerfield, 1.04 m.; Ashuelot, 21.66 m .; total'
88.15 miles; 2d track, 37.48 m.; sidings, 72.98 m.; total, 198.61 m.Owns
entire stock of Vermont Valley R R . , which owns tho stock of Sullivan
County ItR. In 1916 following tho receivership o f tho Boston & Maine
James II. Ilustis, receiver of that road, was made receiver o f tho Conn’
River R R . Merger pending. See B. A M . R R ., V. 108, p. 267
'
In Oct. 1918 interest on all the company’s bonds and tho usual dividends
on its stock, as also Interest on tho 32,300,000 guaranteed notes of tho Ver
mont Valley RR. woro being regularly paid at maturity; but no interest
had boon met on Conn. River notes since that duo Aug. 31 1917 (paid
Nov. 1 1917). The
a
issues o f notes matured as ex
tended Aug. 31 1916, but remains unpaid.
LEASE.—Leased for 99 years from Jan. 1 1893 to tho Boston A Maine,
annual renta (as amended Oot. 10 1895) being 10% per annum on capita
■tuck, payable directly to stockholders: also interest on bonds and scrip and
$2,000 for organization expenses
Richard Billings. Woodstock, Vt.. Pres.
A. B. Nichols, Treas., Boston, Mass.— (V. 107, p. 1919; V. 108, p . 267 )
★ CONNECTING RY. (PH ILADELPH IA).-Owns from Girard Ave. to
Frankford Phila.; 6 m.; North Phila. to Chestnut Hill, 7 m.; branches.
Ac.. 23 m.; total. 36 m. V.103, p.1508. Stock authorized, $5,800,000; out
standing. $4,116,650. o f which $3,825,350 owned by Penn. R R . Dec. 31
A CRI
CENTRAL R Y .— Owns Cripple Creek A Oolo. 8pgs.
R R . and Midland Terminal Ry through ownership o f all their capital stock.
Cripple Creek & Colorado Springs R R . operated underlease:
Afiles.
(а) Tho Colo. Spgs. & Crip. Creek District Ry.— Colorado Springs
to Cripplo Creek— Main line, 59.74; operation partly suspended
early in 1918, owing to burning or bridgo. V. 108, p. 170, 479.
branches and spurs, 27.99......................................................................87.73
(б) Midland Terminal R y.— Main lino, 29.40; branches and spurs,
15.71; total (V. 106, p. 2228; V. 105, p. 998)....................
45.11
Total leased line mileage...............
1 3 2 84
Cripple Creek & Colorado Springs— Main lino in Crfp. Creek Dist.,
2.86; B. & 8 ., 2.85; total, standard gauge (V. 106, p. 2756)____ 4.91
Total system June 1918 (including spurs)................................ ...1 3 7 .7 5
Total road” as reported to I.-S. O. Commission, 116 miles; also had
trackage rights over Colorado Midland R R . (shut down in 1918). Colo
rado Springs to Divide, 26.90 miles.
Reorganization (per plan in V .78,p. 2018: V. 77, p. 1542.) of the Denver
A Southwestern, foreclosed Oot. 4 1904. V. 79. p. 1461; V. 101. D. 1184.
1 Thi0 interest due Oct. 1 1918 on the $1,379,000 First Consols and Jan. 1
1919 on tho 1st M . 5s of tho Col. Springs & Cripple Creek District Ry.
(leasod) was not paid when due. Seo that company.
STOCKS AND BONDS.— Com. stock, $2,500,000; 4% non-cum. pref.
stock. $3,000,000; par of shares, $100. V. 82, p. 11^6; V. 85. p. 120!).
^ O m s . — ’07. ’08. ’09. ’ 10. ’ l l . ’ 12. ’13-15. ’ 16. T7. ’ 18.
1919.
Com.. % - - 6
0
0
0
0
3
4
15
6
3
......
Prof.. % — 4 4 4 4 4
4
1
4 4
1% Mch 1
1 orD Fo“ ’
an e* tra dividend of 1 0 % was declared with the quarterly
1% .on common stock, both payable March 1 . In Sept. 1918 the common
dividend was omitted, but the usual pref. dividends Nos. 52 and 53, 1%
P ^ ^ ^ O O ^ 1*1 DeC' 1 9 1 8 and March 1 1919-— v - 108. p. 683; V. 107.
EARNINGS .— 8 m os.,(1918..........Gross, $635,898; net before $248,293
31;
U917..........Cross, 765.082; taxes,
387.822
REI O R 1.— I or cal. year 1918: Total net income of parent company,
abov° all expenses 99,834 div. on pref. stock (4 % ), $120,000; com. div.
,Fres, ’ A ‘ E - Carlton; Sec., E. S. Hartwell; Treas., A. 9.
Gill. Office, Colorado Springs.— (V. 108, p. 170 , 479 , 683.)
OraekICentral<RiyEEK & COLORADO SPRINGS RR.— See
Cripple
A C U B A R R .— Owns from Santa Clara, Cuba, to Santiago de Cuba. 356
IB , n i K anr, "E 1 yamo San Luis line, 141 miles; Trinidad lines (as completed
mu
5 3 m ; seven branches, 105 m.; total June 30 1918, 655 miles,
xr
* omento- Trinidad-Casilda branch, 56.4 miles, and Camaguey &
Nuevitas R R . extension to new deepwater terminus on Bay of Nuovitas,
3 miles, have been completed. «
STOCK.— The Cuba Co. (V. 105, p. 1993) owns the outstanding $15,800.
000 common but only $1,000 pref. V. 98. p. 1766; V. 96, p. 236. 603.
DIVIDENDS (% )
1910 T l T2 T3 T4 15 T 6
17 T 8 1919.
Preferred .................34*
44* 54*
6
0
6
6
6
a6
3
Common (In cash)................................... 4
0
0
g QOn*
A!?0 <i? £ orI1 ',l,n.Som ;^tock,n 1916, Jan., 20% ; June, 25% . V.103. p. 752.
a On
1 1918 paid a scrip dividend of 3% on tho pref. stk, redeemable
on l«eb. 1 1921. or earlier at option of company, with 6 % Interest payable
annually Feb. 1; also A ur. 1 1918 on pref. a scrip dividend of 3% . On
Fob. 1 1919 paid a cash dividend of 3% . V. 106, p. 295; V. 107, p. 401,
I., by Penn. RR.. have been sold, $3,000,000 of these In Oct. 1916. V. i03. 1095, 1287.
p. 1508. V. 93. p. 229 730; V. 98, p. 522, 610.— (V. 103. p. 1508.)
BONDS, AO.— 1st M . bonds application to list, V. 80, p. 924; V. 8 8 . p.
V. 91. p. 38, 1253. The 5% Improvt. A Equip, bonds
★ CONNELLSVILLE & MONONGAHELA RY.— Owns Moser Run Jet. 461: Ya 89, *i:
of
1910 are limited to $12,000 per mile (excl. sidings) owned. V. 91 d
ooOW?.sv1110,1 a” A5' ri111 ^ branches and spurs. 16.70 m.; total track
22.38 miles (connecting Penn, with Monongahola R y.). Incorporated In 588, 1253; V. 95, p. 175. To June 30 1918 tho Cuban Govt, had advanced
1 enn. Mar. 11 190o. Leased to Penn. RR. until Jan. 1946 at rental equal tho company to aid In improvements, A c., $1,974,438, against sorvices to
to 4% on cost of road, taxes, operating and maintenance charges, rental bo rendered; and there were other loans payablo of $1,750,000 and notes
being more than sufficient to pay Interest charges and retire principal of duo Juno 1 1919, $600,000. V. 107, p. 1095.
The company having purchased in Nov. 1915 the entire $2,000,000 cap.
bonds through sink, fund at or before maturity. Sink. fd .. $25 000 yrly
stock of the Camaguey A Nuevitas RR. an Issue of $3,000,000 5% gold
,n numerical order, but to be kept alive. V. 93. p. 407. Stock
raado. Those 5% notos were paid o ff Nov. 15 1918 and $2.*700.000. Controlled by or In interest o f U. S. Steel Corporation. Pres..
W. II. Clingerman: Sec. and Treas.. J. D. McOreery.— (V. 99. p. 406.)
v - 107★ CpOPERSTOWN & CHARLOTTE VALLEY RR.-Entire $45.(K)0
EARNINGS.— For 6 months ending Dec. 31 1918:
capital stock owned by Del. & Hudson Co. (V. 77. p. 88). which also owns
Gross.
Net.
Oth. Inc. Charges.
Balance.
$269,000 (87 %) o f the $307,400 outstanding stock o f Cooperstown A Susque C, Months.
hanna Valley R R . Owns Charlotte Crossing to Davenport Centro. 3. 96 m.: 1918-------------------- $4,966,425 $1,019,081 $76,405 $641,262 $454,284
leases for 99 years from Apr. 15 1891 Cooperstown A Susq. Val. It it .. Coop- 1917-------------------- 4,551,515
1,136,273
7,924 635.638
508,559
with branch to Cooperstown Jet., 19.79 in
REPO RT.— For year end. June 30 1918 was in V. 107. p. 1095, showing:
Tho $200,000 1st M . 5% bonds (Int. 1918 guar, by Del. & Hud. Co.) due June 30.
Gross
Net
Interest Pref .Divs. Corn.Dies. Balance.
May 1 were paid off from cash at First Nat. Bank of Cooperstown, N Y
Years— Earnings. Income.
Charges. f6 % ).
(6% ).
Surplus.
V.-97 p. 1503. Cal. year 1916, gross, $49,455: oper. exp. and taxds, $67. 1917-18.$11.645,098 $3,937,078 $1,311,488 $600,000x.....$ 2 ,0 2 5 ,5 9 0
053; loss from oper., $7,598; other Income, $29,886; rentals, $12,2887
1916-17..
6,452,108 1,934.148 1,140,715 600.000
193,817
6,815.697 3.523.659
978.244 600.000 720.000 1,225,414
★ COPPER RANGE R R .—Calumet. Mich., to Mass City .with branches, 1915-16..
1914-15 _
5.206,714 2.727.540
853.856 BOO>>00 GOO!000 073.684
total 93 m.; sldo tracks 41 m. Leases Mohawk RR. to Gay, 15.84 miles
x Pref. dividend o f 3% ($300,000) on Feb. 1 1918 was paid in scrip.
with branch^, &c., 1.60 m. Stock. $4,244,300. entire owned by Copper
Pres.. George H. Wblghaiu; V.-P. and M gr., Charles R. Hudson; V.-pY
i\a_n8° Co. Bonds limited to $20,000 per mile o f main lino and branches and
$15,000 per mile of sidings. Dlvidond, 10%, paid Nov. 1909 from ac Horatio S. Rubens; Sec., Herbert C. Lakin; Treas., II. W. Snyder. Office
cumulated surplus.
8 3 „¥ 1? nH 2m.erv St - Jersey City, N. J.: 52 William St., N. Y.— (V. 1051
Year ending Dec. 31 1917, gross. $960,275. against $930,606 In 1916; p. 715, 818, 1992; V. 106, p. 601; V. 107, p. 401. 1095, 1481.)
surplus after charges.Ac.. $47,481, against $100,406. Pres., William A. ★ CUMBERLAND & PENNSYLVANIA R R — Owns from Cumberland.
Paine; v .-P ., Sec. & Treas., I< Ward Paino, Boston. Federal Manager, M d.. to Piedmont, W. Va., and several branches, 51 miles. Owned by The
G. R. Huntington, Minneapolis.— (V. 107, p. 695, 1192.)
Consolidation Coal Co., which guarantees by endorsement tho bonds
A C O P PE R RIVER & NORTHWESTERN R Y — Owns from Cordova. (V. 108, p. 1179: V. 52, p. 390) and owns all the $1,500,000 stock. Oper
A,asha. on tidewater through tho Copper River Valley to Copperfields near ating contract with Govt, signed on April 15 1919, fixing annual compen
K5.9hrtlIlia River. 197 miles. Kennecott Copper Corporation (V. 101, p. sation at $255,592. V. 108, p . 1610. Car trust, see V. 85, p. 1401. Ad
vances by U. S. Govt. V. 107, p. 2156. Cal. year 1917. gross, $862,449;
stock
securities, 84.817,4^0 net,
after taxes, $3,881: other income, $395,066; interest. &c.. $286,913:
clivs., $112,034. Fed. Mgr., C. AV. Galloway, Baltimore, M d.— (V. 85, p,
“ COTTON BELT,” — Common namo for St. Louis Southwestern Ry.
1401; V. 108, p. 1610.)
a p r .,
i9i9.| * g : s r nt
R A IL R O A D C O M P A N IE S
RAILWAY STOCKS AND BONDS
fFor abbreviations, &c., see notes on first page]
Miles Date
Road Bonds
Par
Value
Cuba RR— Common stock $20.000,000______________
$100
Preferred stock 6% non-oumulatlve $10,000.000..
100
First mtge gold $20,000 per mile_______ G.xo’ Ar*
602 1902 1,000 &c
Impt A equip M g $12,000 oer m ____________ Nxo*
1910
S & fr
Secured g notes $100,000call N ov 15 ’ 19 100)4 FPc*
1918
1,000
Three-year scrip for pref dlv in 1918 call at par___
1918
Equipment trust certs., duo $43,000 seml-ann____
1914
1,000
__ 1915
do
due S28M&S27M s-an(V100.p.473).Us
1.000
do
due $40,000 seml-ann_____________ Us
1,000
1915
do
due $98,000 and $97,000 s-an g _______
__ 1916
1,000
Cumberland A Pennsylvania— First mtge g 'g u a r
z
51 1891
1,000
Cumberland RR— 1st M $3,000,000 g o ld .....................
12.9 1908
1,000
Cum berland Ry & Coal Co— 1st M 53,000,000 g gu.
48 1910
1.000
Cumberland Valley RR— See Pennsylvania RR
Dayton & /Michigan— Com stock (3M % guar C H 4 D )
50
1871
Preferred (8% guaranteed C H & D) endorsed____
1871
50
1st M gu p& I end ext In 1911 red 102 V4 beg 1917 o
141 1881
1,000
Dayton Union Ry— First mtge Rink fund call par._Fx
2 1899
1.000
Death Valley RR— First M call 105 s f begin In 1916
__ 1914
£100
Delaware— Stock 8% guaranteed___________________
215
25
General mortgage gold____________________ FP.xo*
113 1892
1,000
Delaware & Bound Brook—Stock 8% gu Phlla A Read
100
First consol II $1,800,000 guaranteed.-PeP.xo*Ar 30.97 1905
1.000
Delaware & Pastern (foreclosed)— See Del A Northern
Delaware & Hudson— Stock $55,711,500 (text).........
100
Schenectady A Duaaesburg first mortgage_______ z
100 &c
14 1874
Adirondack 1st M geld guar p & 1 end__ Us.zc*Ar
1.000
57 1892
1 s t* RefM $50,000,000 g s f red 10714 beg’ 18.xo»Ar*
1908 1,000 &o
Convert bonds gold red text___________________
1915
500 &c
Equip 1st lien bonds $10,000,000 g s f..U sm ,x o * * r
J.000
1907
Secured gold notes callable (see text)________ Usyc
—
1917
1,000
Guaranteed Bonds—
Bluff Point Land Improvement Co 1st M g gu.zo*
1,000
1890
_
Ohateaugay Ore A I Ref mtge call 105___ N.xo*Ar
1902
1,000
__ 1889
Utica Clinton & Binghamton RR 1st M ___________
l ,000
Albany & Susquehanna RR 1st mtge................ .......
__ 1906
1,000
Delaware Lacka & Western— Stock auth $42,277,000.
$50
Bangor & Portland mortgages g old _____________ x
•S0-’8G 100 &o
ACUMBERLANI) RAILW AY 5c COAL CO.—Owns road from Sprlnghlil
Jot. to Sprlngnll) Coal Mines, N. S., and Parrsboro on the Bay of Fundy,
32 mllos; also coal actcs, timber lands, Ao. The Dominion Steel Corpora
tion late In 1910 arranged to acquire the $1,000,000 stock, the $979,000 6 %
bonds being exchanged for $1,167,000 5s guaranteed by Steel Corp. Issued
under a mtge. for $3,000,000 providing for future requirements. V. 91 n
1629, 1766; V. 92. p. 186, 1435; V 07, p 1583 Leased to Dominion Coal
Co. Earnings Included In report o f lessee.— (V. 97, p. 1583.)
★ CUMBERLAND RR.— Artemus to Wheeler, K y., 10.2 miles, and
Lansford to Anchor, K y., 2.7 in.; total, 12.9 miles, lncorp in Kentuck',
In 1902. Stock auth., $100,000; outstanding, $20,990; par, $100. Bonds
($3,000,000 auth. issue) outstanding Juno 30 1910, $1,028,000. Year end
ing Dec. 31 1917, gross, $40,628; net, aft. taxes, def. $1,967; lnt. &c
$64,194; bal., def., $66,150. Pres., It. W. Stono: Sec., J. I,. Stone- Treas ’
A. J. Hazeltino; Auditor, .1. R. Campbell. Office, Artemus. Ky. Federal
M gr., E. II. Coapman, Washington, D. C.
y
ucral
★ DAYTON ft MICHIGAN RR.— Owns Dayton, O., to Toledo Juno O
141.16 m.; traokage Into Toledo, 1.15 m.
Leased May 1 1863 In oerpetuitv
to Cln. nam . A Dayton. Lease modified June 23 1870. Rental H mainte
nance of organization. Int. on bonds and 8 % on pref. stock and 3 U% on
0 0 m.
Guaranty on pref. is secured by mtge. of 1871. but the pref. carries
no voting power. V. 56. p. 813. Mtge. of 1856 Is held alive under mtge. of
1881. V. 91, P-1446, V. 9-, p. 118, Status of stock and bonds Is iindlsturbod by plan o f 1916. by which B & O. RR. took over possession, under
leaso, along with main lino of Cin. Ham. & Dayton.__(V. 92. p. 526.)
★ DAYTON & UNION RR.— Owns from Dodson, O., to Union Cltv Ind
31-74 m.; leases Dayton to Dodson. 15.30 m .;'total operated.1 7 M m
The Clovo. Cin. Chic. & St. Louis and Tol. & Cincinnati lointlv own the
$86,300 stock. Yoar ending Dec. 31 1 9 1 7 KrQss $156 489- mil7 ? 9 ‘tVfiia
other income. $3,536; charges, S38.910- bal def 8 1 2 0 1 9
’
R . N. Begien, Cincinnati, O.— (V. 97* p. 236!)
’ S,12’° 12’ 1,ed’ M grDAYTON UNION, R Y .— Union depot at Dayton. O. Used by Pitts.
Cln. Chic. & St. L., Clovo. Cln. Chic. & St. Lo., Toledo & Cincinnati, Day
ton & Union RR. and Erie R R ., under lease which provides that Interest on
bonds and other expenses be divided between them on train basis
Stock
S321.000, an"
endingCDech 31 ^917 gro^. $ 1 8 3 5571
ncL SOL 130, other income $134 interest, rentals, &c., $52,748; bal., sur.,
$8,516. Pres., G. L. Peck, Pittsburgh, Pa.; Sec., R. C. Barnhard; Fed.
M gr., R. N. Bcgrcn, Cincinnati, O.— (V. 73, p. 1312.)
DEATH VALLEY RR.— See N ov. 2 1918 Section.
★ DELAW ARE R R - ~ ^ a p s Pennsylvania RR.)— Shellpot Crossing,
Del., to Delmar, M d„ 95.20 miles, branches, Centrcvllle, Md., to Townsend,
34 98 m ; Crayton Del., to Oxford, Md.. 54.27 m.; Seaford. Del., to
Oambrldge.Md., 32.96 m., Massey, Del., to so. of Che^tertown, 20.52 m.;
other branches, 7.22 m., total. 245.15 miles. V. 67 t>. 1356
Leased to Philadelphia Baltimore ft W ashington (which owns S2 704 fiOO
of the stock) for 99 years from Moh. 1 l O l O a t T ^ a r S
iS
p ^ ? ^cash
« ’,ha dividend
HTJiupnMtnfC
v V.dr,e? d of 70% bu,n(? Pa,(l Feb. 28 1910; also a
•peolal
of 29 n
0 % and an extra cash dividend of 5 %
8 3 7 <7r7 ^ ldivsear8 ^ )188 trnRt9 R9 -®it30,59d: othcr Income, $56,027; charges,
B E d e h ?$ 3 .p $ ^ *< .V 94’. 0 ? i S ? 2 7 8 .,appl,ed t 0 S‘ nking fUndS’ $45’6G9:
N ^ '^ t V o c l a w uo^lUver* * 2 7 oo*0 #
Bound Brook June. (Cent. RR.
Trenton R li 3 05 rn - ^ t a ? '^ S i1®8!. branch to Trenton, 3.75 m.; East
an d 4 tlftracks sidings' & ct q's3no0 2 iPl le8’T Total track, including 2d. 3d
to P h l l a *
In M »y 1 8 7 9 leased for 9 9 0 >eart
Jtock1— (V. 8 1 ? p. 2^0.)ROnta ’ ®213' l ° 7-50, paying interest and 8 % on
Aj^ELAWARE
t*UDS()N CO.— Operatos railroad lines from Wilkes^ona0,iii^Yi^>aJifhahran?h Schenectady to Rouses Point, N . Y ., on the
^ ? . t 0 Binghamton, Troy, Lake Placid, N. Y .,
m
o'n?i ^ o t7 n ir,l?,n.ts’ a total of " 9 .6 1 miles (of which 345.19
owned in Too and 459.70 leased or controlled through stock ownership), viz.:
Steam Lines owned (345 m.) Miles
Lines leased— *See these cos. Miles.
Oarbondalo to Scranton,l»a.,& br. 22 ♦Albany
& Susquehanna________ 143
LookoutJct. to IIoncsdaleJct.,Pa. 28
& Saratoga__________199
Nineveh to Joflerson Jet., Pa___ 22 ♦Rensselaer
♦Chateaugay & Lako Placid R R .. 79
OhorryVal.Jct.toCherry VaL.N. Y 21 Other leased lines________________ 48
Schenectady to Delanson, N. Y „_ 14 ♦Jofferson RR. (trackage)______ 35
Greenwich to Salem Jet., N. Y ~" in Boston & Maine (traclcago)_____37
Saratoga to North Creek, N. Y ” fin Other trackage__________________ 32
Whitehall to Rouses Point, etc 149
Othcr lines owned___________ "" j g
Total operated Jan. 1 1919___909
* ,s ? s
wua
♦ * * • 35-13
N
.
S
l
f
—
•
5 ' “ d Eomo “ “ " “ o '1 E E - 44
APr" 23 1823; namo changed April 28 1899.
onivi ^ a u ? n a i ° , f anthracite coal (V. 86, p. 913; V. 165, p.
, A A.SH?\
\rr2!? tbe company’s mines Is sold at tho pit mouth
-8!U P - 1449). The canal was abandoned and tho
,cba£??d ftanHnrH®98' Tbe old “ Gravity’’ road, built In 1829, was
broadened to standard gauge and opened for regular service In 1900. Tho
®v « ‘ o JU.tX “ \er8er Include: Adirondack R y., Schen. & Duanosb.
R R ., N. Y . & Canada R y., Cherry Valloy Sharon & Albany R R .
Allied Properties.—(a) Entire capital stocks owned: Quobec Montreal &
Southern R y. Co., Naplervlllo Junction Ry. Co., Groonwich & JohnsonJ 19e.
g o .. SchiDhario Valloy Ity. Co.. United Trac. Co. and Troy & New
England Ry. Co., (o) one-half the stock owned; Wilkes-Barre Connecting
R R . Co. and Schenec. Ry See list o f stock, Ac., lioldlngs, V. 106, p. 1893.
0 ° ^ l c ; ln5m 7 . V. 105, p. 767. Anthracite rate case, V. 101, p. 2072;
A Susq. stockholders wore held by higher Federal courts to bo en*J£ed10
V1
, effectod b7 the refunding at 3 >4 % Of the re
maining $7,050,000 o f the $10,000,000 Issue of Albany & Susquehanna
Amount
Outstanding
Rate
%
When
Payable
APrivate
Control.
45
Last Dividend Places Where Interest and
and Maturity
Dividends are Payable
$15,800,000 See text See text See text
10,000,000 6 in 1918 F <Sc A Feb 1 ’ 19 3 % Checks mailed
Royal Bk of Can, N Y
12,030.000
5 g J & J July 1 1952
4,000,000
M & N May 1 1960
do
do
5 g
2.000.000
M&N 15 Nov 15 1920
Phlla, Fidelity Trust Co
6g
600.000
6
Yearly Feb & Aug 1921
430 000
F
6
A Aug 19-Feb 24 Montreal Tr C o, Mont
330.000
5
J & J21 July’ 19 Jan ’25 United States Tr Co, NY
560.000
5
J & D 15 June’19 to 1925 United States Tr Co. NY
1,560.000
5
M & N M ay'19-Nov '26 Guaranty Trust Co, N Y
1.000,000
5 g M & N May 1 1921
Guaranty Trust Co., N Y
1.028,000
5 g .) * D June 1 1958
Guaranty Trust Co, N Y
1.142,000
A & O Oct 1940
Montreal, Canada
5g
2,401,950
3H
A & O Apr 2 1919 1%
1,211,250
8
3— J Apr 3 1919 2%
2,728.000 i H (5) J & J Jan 1 1931
379.000
4 g J & J July 1 1949
See text
5
M & S March 1 1924
5,078.275
8
J & J Jan 1 1919 4%
448,000
J * J July 1 1932
1,800,000
8
3— V Feb 20 1919 2 n,
1.800.000
314 g F & A Aug 11955
Cincinnati. O
do
J P Morgan & Co, N Y
Farmers’ L A Tr Co, N Y
Bayonne, N J, MechTrO
Checks mailed
Treas Pa RR Co, Phlla
11 W State St., Trenton
Mech Nat Bk.Trenton.NJ
42,503.000 9 in 1918 Q—Mob Mch 201919 2H Office 32 Nassau St. N Y
500.000
6 g M * vSSept 1 1924
do
do
1,000,000
414 g M * S Moh 11942
do
do
32.204.000
4
M & N May 1 1943
do
do
14.451.000
A <& O Oct 1 1935
5g
do
do
8,855,000
4 H g J A J July 1 1922
do
do
9,000,000
F & A Aug 1 1920
5 g
do
do
300,000
4
J A J Jan 1 1940
1,300,000
4
■1 A J Jan 1 1942
800.000
5
J & .1July 1 1939
10.000.000
•314 R A *& O April 1 1946
42.220.400 20 in T8 See text Apr 21 ’ 19 5%
320.000
6 g J A J 1930-1936
do
do
ao
do
West St, New York
do
do
RR. Co. 7% bonds, Increasing the yearly rental paid. V . 85. p. 721;
V. 83, p. 1036; V. 80, n. 1174, 1362. 2343; V. 88. p. 938, 1499; V. 89, p.
1068, 1141; V. 90, p.
_ 911. To Jan. 1917
___ $3,556,000
_________ I A. & S. bonds had
been exchanged for D. & H. stock. See Albany & Susquphanna.
Sinking Fund.— Tho sinking fund, created May 9 1899 and amended
May 10 1910, receives out of the yearly not profits not less than 5 cents per
ton on coal mined, and lias accumulated $6,641,930 from 1900 to 1917,
which amount has been applied to the purchase and retirement of SI .288.500
of tlie capital stock (in 1900 to 1906), and In part to the purchase of coal
lands in the Wyoming and Schuylkill regions.
DIVS.—
f ’87. '88. ’89 to ’96. ’97 to ’00, ’01 to ’06. ’07toAfch.20'19
Since 1 8 . 8 6 | 5
6 7 yearly. 5 yearly. 7 yearly.
9 yearly.
In 1918 and also in March 1919 paid quarterly dividends of
% each.
V. 105, p. 2542; V. 106, p. 1344, 2022.
BONDS, &c.— Equip. 414s of 1907. V. 84. p. 1247. 1307: V. 85. p. 1082,
On May 12 1908 tne stockholders authorized a First and Refunding M ort
gage for $50,000,000, bearing not over 4% lnt. and running 35 years, and
subject to redemption as an entirety only at 10714 on any int. day, beginning
May 1 1918. One per cent of the amount of bonds outstanding is to be paid
to the trustee June 1 annually from 1909 to 1942, to be used to purchass
bonds or for Improvements and extensions. Of the issue, $6,500,000 are
reserved to retire outstanding 1st M. bonds; V. 86. p.98, 1409, 1589; V. 87.
D. 96. 480. 1419. 1604; V. 89. d . 847, 1541: V. 90. p. 51. 167; V. 92. p. 186.
394: V 96. p. 1156. 1700; V. 97. p. 1024; V. 98. p. 1168. 1844; V. 99. p. 48
In Feb. 1919 sought authority to issue $4,460,000 First and Refunding
bonds, viz.; On additions and betterments, $2,760,000; and to retire a
block of the 3-year notes, dated Aug. 1 1917, $1,700,000. V. 108, p. 878.
The stockholders on 8ept. 30 1915 authorized the issuance of $14,451,000
20-year 5% bonds, which were offered to stockholders. The bonds may at
option of holders at any time after Oct. 1 1917 un to Oct. 1 1927 be converted
Into paid-up shares of capital stock at the rate of $1,500 bonds for ten shares
of stock (with an adjustment of interest and dividend). The entire issue,
but not a part, may be called for redemption on Oct. 1 1922, or on uny
semi-annual interest day thereafter, on 90 days’ notice, at 165 and int.,
but if so called during the conversion period the bonds may be converted
up to 30 days prior to such call day. V. 101, p. 773, 1092; V. 102, p. 800.
1356. V. 104. p. 1044.
The $9,000,000 3-year 5% secured gold notes of 1917 due Aug. 1 1920.
are redeemable (as an entire issue only) on any Interest date on 60 days'
notice upon payment of a premium equal to X % for each six months until
maturity. They are secured by pledge of $7,300,000 Del. & Hudson Co.
Ref. M . 4% gold bonds, due 1943; $3,500,000 Albany & Susq. R R . First M .
3J4s, g.. due 1946; and $400,000 Alb. & Susq. RR. and $500,000 Rensselaer
& Saratoga RR. guar, stock. V. 105, p. 389: V. 106, p. 2022.
The final $100,000 outstanding on the Hudson Coal Co. 4% serial de
bentures of 1902 and also tho $200,000 Cooperstown & Susquehanna Valley
R R . 1st M . 5s due M ay 1 1918, were paid off at maturity. V. 106, p. 1900.
In April 1919 was authorized by the N . Y . P. S. Commission to issue
$4,460,000 4% 35-year 1st & Ref. Mtge. bonds to be sold for not less than
90. The proceeds will be used (a) to retire $1,700,000 5% notes; (6) for
reimbursement for additions and betterments, $524,611; and (c) for pro
posed additions and betterments, $2,235,566. V. 108, p. 1610.
Loans and bills payable outstanding Dec. 31 1918, $5,371,034.
“ ADVANCES” AND “ STANDARD R E TU R N .” & c — See page 5,
EARNS.— 12 mos.,/1918 Federal, Gross, $34,789,864; net (beforeS.3,436,080
Jan. 1 to Dec. 31.(1917 Corp., Gross, 29,989,399; taxes), G.539,446
.O fficia l Statement for Year 1918.— Government compensation (estimated),
$7,415,149; income from investments, rentals, &c., $3,187,631; total, $10,
602,781. Deductions: Interest on funded debt, $2,938,318; other interest.
$142,728: rental, &c., $1,946,986; war taxes, $127,028; other annual expen
ditures, S732.928; dividends (9 % ), $3,825,270; bal., sur., $889,522.
REPORT.— For year 1917 In full in V. 106, p. 1893, 2002, 2022.
1917.
1916.
1917.
1916.
S
$
$
$
Mdse, rev------10.540.757 10,254,653 Div. income
992,406 1.025.854
Coal revenue. 14,806,606 11,769,005 Income from
Mail, exp., &c. 4,234.867 4,122,419
secur., &C-.
515,004
760,638
Incidental . . .
407,169
488,349 Rents, &c____
569,792
482,573
Misc. Income. 2,712,526
127,363
Tot.op.rev.29,989,399 26.634.426
Gross i n c ..10,434.081 10,177.856
Hire of equip.
115,243
497,815
Net earnings. 6,539,446 8,523,331 Rontleas’drds. 1,956.062 1,969.616
Taxes accrued 891,617
738,659 Oth. rents, &c. 275,539
332.034
Uncollectibles
3,478
2,744 Int. fund. d t. 2,925,358 3,124,559
Other interest
169.099
95.460
Oper. in c .. 5,644.353 7,781,928 Divs. ( 9 % ) .. 3,825,270 3.825,270
Bal., sufp- 1.167,510
333.102
Coal Statistics— Tons—
1917.
1916.
1915.
1914.
Anthracite coal produced___ 8,643,824 7.186,380 8,100,767 7.400,695
Anthracite coal carried_____ 10,879,556 9,300,552 9,990,848 9,211,397
Bituminous coal carried___ 3,646,449 2.799.859 2,074,357 2,052.181
OFFICERS.— Pres., L. F. Loreo; V.-P., Chas. A. Peabody, N . Y .;
V .-P .,W .II. Williams; V .-P., O. S. Sims, Montreal; Asst, to Pres, and Asst.
Sec., W. B. Schofield; Treas., W. H. Davies; Sec., F. M. Olyphant; Comp
troller. W . E. Eppler. 32 Nassau St., N. Y .; Fed. Mgr., F. P. Gutelius.
Albany, N. Y.
Board of Managers.— Ohauncey M . Depew, Charles A. Peabody, Leonor
F. Loree, Cornelius Vanderbilt, William A. llarriman and Percy H.
Stewart, all of N. Y .; William S. Opdyke, Alpine. N. J.; George I. Wilber,
Oneonta. N. Y .; Robert C. Pruyn. Albany, N. Y.; Archibald D. Ruseell,
Princeton. N. J.; William H. Williams, Plainfield, N. J., Henry W . D*
Forest. Oyster Bay, N. Y.; Charles S. Weston, Scranton, Pa.— (V. 107.
p. 181. 291. 802, 1384. 2008, 2187, 2476; V. 108. p. 267, 578, 878, 1610.)
★ DELAWARE LACKAWANNA & WESTERN RR.— {See M ap.)— Oper
ates main line from Hoboken. N. J„ opposite N. Y. City, to Buffalo. N. Y ..
410 m., with branches to anthracite region, &o., 547 m.. viz ; (‘ see this co.)
46
★ CGovernment
ontrol.
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
lFor abbreviations. &c., see notes on first page]
Miles Date
Road Bonds
10
Del River RR & Bridge— 1st M g p i p & 1 s fl% a P .x o '
Denv Boulder & YVest— Ino 1st M 8800,000 red par -i
Denver & Rio Grande— Stock oommon (see text)_.Tr
Preferred stook 5% non-ouinitiative $50,000,000-Tr
First Consol M 842,000,000 now 1st M g.U s.xo’ &r /1,047
11.647
First & Ref M 8150.000,000 gold red 110-_Baxo*&r* 2.541
Adjust M Incomes 825,000.000 7% cum red 115 Nxo* 2.541
Improvement M (85,000 per mlo g _____Us.xo*&r 1.647
099
Rio Grande Western 1st M gold (V69. p 284) -Ce.zo*
699
First Cons mtge redeem at par (see text) g.G.xo*.
Bonds of Affiliated Companies—
180
Rio Grande Southern first mortgage guar_____Cex
62
Rio Grande Junction first mortgage guar___ Ce.xo*
Salt Lake City Union Depot A R R — See that Co.
Denv & Salt L RR— Stock *35.000.000...................
Receiver's (1st lien) ctfs SI.500.000 g call at par
1st M *35,000,000 gold redeem 105--Ba.xc*&r*
Do cash Int: 3 % . 3 yrs; 4 % , 1 yr; then 5% - .x
Do cash int:4 yrs. 1, 2 , 3 & 4 % , resp.thev "
Adjustment (Income) bonds 82.000,0(M).— .-
text
text
text
1896
1909
-
1886
1898
1908
1912
1888
1889
1899
1890
1889
1901
1898
Amount
Outstanding
Par
Value
Rate
%
4 g
1,000 $1,238,000
700,000 To 5%
100 &c
ion aa non, non
_
100 49.776.670
4 g
600 &c v34.125,000
4)4 g
1.00C 6,382 000
$ & mks x32,690.000
5g
$,£,m,&c 10,000.000 7 In 1918
5 g
50C 8,335.000
4g
1,000 &o 15.190,000
4g
1,000 Ac y l5 ,080.000
1,000 z2.277.000
1.00C 2.000,000
486,000
1.00C
897,000
1,000
1918
1913 S,£,fr,Ac
1913 $, £, Ac
1913 $. £, Ac
1913
*1.000
4
5
5
5
g
g
g
g
*1 \tfi70 300
6g
575,000
3.641,000
5
4.427,000 3-4-5
1,734.000 1-2-3-4-5
2,000.000 Up to 5%
When
Payable
APr/viifd
Control.
Last Dividend Places IVhere Interest and
Dividends are Payable
and Maturity
F A A Aug 11936
3e< text July 1 1939
J &
J A
J A
F ft
A A
J &
J &
A A
J
J
M
J
M
M
M
M
[V o l . 108.
Penn R R C o. Phtla & N Y
KIdder&Co,5 Nassau. NY
J Jan 16 1911 2)4 Offloe, 165 B’ way, N Y
National Park Bank, N Y
J Jan 1 1936
do
do
J Jan 1 1936
Feb ’ 19 coup pd. at mat.
A Aug 1 1955
Oct. ’ 18 int. paid at mat.
O Apr 1 1932
National Park Bank. NY
D Juno 1 1928
Guaranty Trust Co, N Y
J July 1 1939
April int. paid May 24
O Apr 1 1949
A J July 1 1940
A D Deo 11939
A 3 Mch 1 1931
A J July 1 1923
Sept
& N
& N
& N
& N
Sept 10 1920
May 1 1943
May 1 1943
May 1 1943
May 1 1943
Maitland, Coppell, N Y
do
do
Guaranty Trust Co, N Y
do
do
May 1915 coup unpaid
do
do
do
do
Now York
v-x-y Additional amounts held In treasury or by trus tees D ec.3 19 17. viz: v $1,445,000; x $9,371, 000, incl uding $7,005,00
plodgod under adjmtment mtge.; y SI.395,000.
z Of which $1,777,000 in treasury or renowal fund Dec 3 1 1917 ; there ar o also $2,23 3,000 not guarant oed
The bonds ($800,000 authorized)
Lines Leased (Concl.)—
Miles. Stock. $300,000. all out; par $100.
Lines Owned—
Miles.
to int. up to 5% If earned, payable Sept. 1.
N, J. State line to N. Y. line___ 111 •Oswego & Syracuso_____________35 areInentitled
Dec. 1917 the right to abandon operatlonaod dismantle tho property
Branch to Northumberland_____80 •Syracuse Binghamton & N. Y ._ 81
withheld. V. 105, p. 2183, 2542.
.
Erie & Centra N. Y.(V.96.p.202) 18 •Utica Chenango & Susquehanna 97 was
For year ending June 30 1916, gross, $93,986, against *61,197 In 1914-15:
Bangor & Portland R y __________ 38 •Valley R R . of New York--------- 11
net Income, *11,505, against def., $3,459. Dividend on Incomes, 3%
Other linos owned_____________
9 •Lackawanna RR. of N. J --------- 28
($21,000), paid Sept. 1 1910, and 1H % ($10,500) 8ept. 1 1911. Pres..
Lines Controlled and Operated—
Lines Leased— (See each co.) —
•Morris & Essex and leased brchs.176 Sussex Railroad_________________ 31 Charles D. Marvin; Sec. & Treas., G. M . Yvllllams. Office, Boulder, Colo.
— (V. 89, p. 993: V. 99. p. 1748; V. 105. p. 2183. 2542.)
*N. Y . Lackawanna & W estern..214 Laokawanna & Montrose R R ------11
•Cayuga & Susquehanna------------ 34
DENVER & R I O GRANDE RR.— ROAD.—Mileage:
.980 ★Road
Total operated Jan. 1918.
Greene Railroad________________ 8
owned and operated_____2,4891 Of tho preceding:
Rio Gr. Jo. R R ., &o. (leased). . 121 Standard gauge------- ---------------1,829
IIISTO RY, &c.— Chartered In 1832, present title assumed In 1853.
--------1Narrow gauge only____________ 781
In June 1909 tne D. L. & W. Coal Co. was Incorporated with 86,800,000
Total operated Dec. 31 1917.2,6101 Second track-------------------------- 206
authorized stock, to act as selling agent for the company’s coal in Pennsyl
vania. the railroad stockholders being permitted to subscribe for Its stock
In 1918 20 miles of track was abandoned and 9.95 miles was built.
See extra dividend bolow, also that company’s caption under Mlscol. Cos.
V. 108, p. 169.
United States Supreme Court on Juno 21 1915 in the sub. brought by
H ISTORY.— On July 31 1908 the Rio Grande Western was merged.
the Government held that the company, under the contract o f Aug. 2 1909, V. 87, p. 226, 285. The ltlo Grande Junction (of whose stock the greater
violated the commodities clause o f the Hepburn Act and the Sherman anti part Is owned) was leased Jointly by this co. and the Colorado Midland (fore
trust law (V. 100. p. 2114; V. 101, p. 17). in Its relations with th e D .L . & YV. closed In 1917) and Its bonds guaranteed. V. 95, p. 1541; V. 97, p. 886;
Coal Co. A new contract has been arranged. V. 101, p. 47. In May 1917
105, p. 2455. Rio Grande Southern Is controlled.
suit over Morris & Essex lease was settled, the guaranteed dividend on V. Judge
Learned Hand In the U. S. Dist. Court In N. Y . City on M ay 18
M . & E. stock being increased from 7% to 714% p. a. V. 104. p. 2116. 1917 decided in favor of tho Equitable Trust Co., as mtge. trustee o f tho
V. 100. p. 1509,1832; V. 102, p. 1896; over Syr. Bing. & N . Y . lease, V. 103, old Western Pacific Railway, tho suit brought against tho Donvcr & Rio
p. 1980. Anthracite rate case, V. 101, p. 2072; V. 102. p. 1357. Govern Grande RR. Co. to enforce tho payment of the guaranteed bonds. V. 105
ment regulation o f coal prices In 1917, V. 105, p. 767. 2412, 2293, 1961.
1309, 1522; V. 101, p. 2641, 2117. Tho Circuit Court of Appeals at
In June 1918 tho company was paying all its rentals In full without any
. Y. on Jan. 4 1918 affirmed tho decision, ranking tho judgment as a lion
deductions in dividends paid to stockholders o f leasod or operated lines to on tho property inferior to the Hen o f tho mortgage bonds. V. 107, p. 1186;
make up for the income tax.— V. 106, p. 2756.
V. 106, p. 85, 188, 1126, 1688.
In Sept. 1918 after some $7,771,395 had boon realized on tho Judgment,
1910 to Apr. 1919.
DIVIDEN DS— 11904. 1905. 1906-08. 1909.
19H 20 yearly
70
20% yrly.— seo below the YVestern Pacific RIt. Corp., holder of tho bonoficlal interest in 95% of
Since 1903— (%)\ 17
tho
$50,000,000 1st M . bonds o f tho former YVostom Pacific Ry. Co., was
Q.-J.
(10%
p.
a.)
and
10%
extra
December
Dividends previously 2H %
roposing to set asldo $3,500,000 of tho money so received for the rehablliwere In 1918 changed to 5% oach quarter. tho annual rate remaining 20%
atlon of the D. & R. G ., and thus far tho protection of the remainder
July 1909 paid special cash dividend 50% one-half applicable, if desired,
to subscription of stock of new D. L». & W. Coal Co. selling agency; also ($32,500,000) of the Judgment. V. 107. p. 1102.
On Jan 26 1918, in view of tho foregoing Judgmont, tho property was
paid 15% stook dividend Aug. 2 1909. and In Deo. 1911 35% In 4% guar, placed
In tho hands of Its President. Edward L. Brown, and Alexander R.
stock of Lack. R R . of N .J . V. 89. p. 41. 224: V. 93. p. 1323; V. 94. p.549. Baldwin,
of San Fran., V.-Pres. & Gon. Attorney of tho YVostern Pacific
’ ’ADVANCES’ ’ AND “ STANDARD R E TU R N ,” &c.— Seo page 5.
R R ., as receivers by tho U. S. District Court at Donver. on application by
LATEST EARNINGS./1918-Gross, $68,740,076; not (after $18,814,392 a creditor, tho company consenting, although earning a surplus over fixed
12 mos., Jan. 1 to Dec. 31 .11917-Gross, 57,211.224; taxes), 19,534,736 charges, anil there was no other floating debt. V. 106, p. 498; V.107,p.l 186.
Feb. 28 1918 the U. S. Gov’t, having, as a war measure, taken over
ANNUAL REPO RT.— Annual mooting Is held on Tuosday preceding theOnmanagment
of tho property, Mr. Brown retired as receiver and Mr.
last Friday in Fobruary. Tho report for 1917 was in V. 106, p. 810.
Baldwin
remained as sole recefvor of tho free assots with no part in the
Year ending Dec. 31—
1917.
1916.
1915.
operation of tho road. V. 108, p. 929.
CoaK. . . . . . . . . . . .
.................. --$17,130,291 $14,475,244 $13,364,007
In June 1918, $10,418,700 securities hold by tho company In N. Y.
Merchandise froight________________ 24,637,415 23,229,865 18,742,617 banks
wero attached; $10,000,000 stock of Utah Fuel Co. was sold under
Passengers__________ - _____ - ____ - 9,289,838
8,674,863
8,218,316 this Judgment
on Juno 20 and bid in by YVililam Salomon & Co. on bohalf
Mall, express, & c.................- ............. 6,153,680
5,200,927
4,461,791 of YVostern Pacific
R R . Corp. for $4 000 000. V. 106 p. 2648. 2559.
Gross
.........................- ........... $57,211,224 $51,580,899 $44,786,731
Interest Payments.— Coupons duo Feb. 1 1918 on First & Ref. Mtge. 5s,
Net. after taxes............................................................$15,940,064 $17,114,593.$14,912,945
April
1
1918
on
Adjust.
Mtgo. incomes of 1912, and Rio Grando YVestorn
Coal department (net)__________________________ *6,503,879 *4,933,022*3,443,039
1st Consol Mtge. 4s (V. 106, p. 1461), wore paid on M ay 24 1918, following
Other miscellaneous income..................................... 2,130,649
2,599,5431,582,974
a hearing in the U. S. Court, out of an advanco of $1,500,000 made by the
Total net income............................ $24,574,592 $24,647,158 $19,938,958 U. S. Gov’t from annual rontal to bo payable tindor proposed operating
$755,734
Hire o f equipment------- -------$534,261
contract. Tho June coupons wero paid promptly. Tne Aug. 1918 and
Compensation to employees________
606,175
Feb. and April 1919 coupons wero also met promptly.
6,070,062
5,989",308
Interest and rontals------------------------ 6,278,347
Total advances from U. S. RR. Administration from April 1 1918 to
1,616,056
1,701,968
Renewals and botterments-------------- 1,785,612
Jan. 31 1919 as loans and advanced compensation. $6,850,000. V. 107,
1,289,700 p. 1344; V. 106, p. 2122, 2228.
Discount on bonds sold____________ _________
8,44~4~,080
8,444,089
Dividends (2 0% )................................. 8,444,080
"AD VA N C E S” AND "ST A N D A R D R E TU R N ,” &c.— See page 5.
Balance, surplus__________________ $6,926,117 $7,756,068 $2,519,060
Committees Formed in View o f Aforesaid Decision (V. 104, p. 2117).
1914
1915.
*Coal Department—
1917.
1916.
First
Ref. 5% M . Bonds.— Soward Prossor, Chairman; Bertram Cutler.
$34,391,801 $26,627,148 $22,802,210 $23,949,079
Gross earnings___
..................................... 6,503,879
4,933,022
3,443,039
4,357,007 C. Ledyard Blair, E . IC. Botsot, John Henry Hammond, Andrew J. Miller,
Profit.....................
"P . & L. sup.” Dec. 31 1917. $52,858,012; "corporate surp.,” $22,101,733. YVililam Salomon, Joseph H. Seaman and Frederick Strauss; B. YV. Jones,
Secretary, 16 YVall St. Cadwalader, YVickcrshatn & Taft, counsel. Bankers
OFFICERS.— Pres., W . H. Truesdalo; Sec. and Treas., A. D. Chambors; Tr.
C o.. N. Y ., depositary. V. 106, p.2559, 2228,498: V. 104, p. 2117, 2552.
Gen. Aud., G. E. Ilustis; Federal M gr., E. M . Itine, N. Y . City.
Common & Pref. Stock.— Harry Bronner, J. Horace Harding, John W.
BOARD.— YV. 8. Jenny. Wm. H. Moore, Henry A. O. Taylor, Wm. H. Platten and Harrison YVilliams. Cravath & Hondorson, counsel; Ohauncey
Truesdale, Geo, F. Baker, Wm. Rockefeller, Geo. F. Baker Jr., M . Taylor II. Murphey, 55 Cedar St., N. Y ., Secretary; Unltod States Mtgo. & Trust
Pyne. Henry R. Taylor, YV. H. Dodge. Beckman Wlnthrop, William Co., N. Y ., depositary.
Fahnestock, Harold 8. Vanderbilt, J. F. Talmago. Office. 90 YVest St..
7% Cum. A d ). Mtge. Bonds.— John B. Donnls, Alonzo Potter, Otto T .
N . Y .— (V. 106, p. 498, 601, 1344, 2228, 2648; V. 108, p. 268.)
Bannard and Albert Strauss, with B. L. Stowoll as Secretary. 24 Broad St..
N. Y .; Now York Trust Co., depositary. V. 104, p. 2235; V. 106, p. 2228.
★ DELAWARE MARYLAND & VIRGINIA RR.— Seo page 208.
Rio Gr. West. 1st M . 4s.— Seo Spencer Trask & C o., 25 Broad St.. N. Y
1st Mtge. Bonds o f Rio Or. Jet. Ry.— L. Edmund Zacher, J. Herbert Case,
A DELAWARE & NORTHERN RR.— East Branch to Arkvltle, 38 miles,
and 8-mlle branch. Incorp. in N. Y. Oct. 14 1911 as a reorganization of Edward C. Delafield: with E. S. Biagdon, Secrotary, 46 YVall St., N . Y .
Del. & Eastern R R ., foreclosed per plan V. 93, p. 588. Stock, common. Franklin Trust C o., N . Y ., depositary.— V. 104, d . 2642.
*1.000.000; 6% cum. pref., $250,000; par. $100. No bonds April 1 1919.
STOCK.— Tho Missouri Pacific on Doc. 31 1917 ownod $17,295,000
ifor year ending Dec. 31 1917. gross, $133,160; net. after taxes. $12,619;
rental and fixed charges (net), $8,598; bal., $4,021. For year 1918, gross, common and $9,805,000 prof, stock. V. 72, p. 338, 580, 1238; V . 73, p. 600.
135,700; net loss after taxes, $9,724; rental & fixed charges, $6,850; def.,
DTVS.— \ ’ 92. '93. ’ 94. ’ 95. ’ 96. ’ 97. '98. ’99. ’00. ’01 to Jan.’ l l None,
16,574. Accrued pref. dlvs. for 1918 amounted to $15,000. Pres., An on pref. % / 0
2
0
0
2
2 2 > 4 4
4
5 yearly.
since.
drew M . Moreland; Sec. & Treas., Howard Feist. Office, Margaretville,
BONDS.— Improvement mortgage abstraot in"Chronlole,” V .4 7 ,p . 229.
N . Y .— (V. 96, p. 1725.)
Abstract of R. G. W . 1st mort. was In V. 49, p. 237, and statement to
★ DELAWARE RIVER RR. & BRIDGE CO.— Frankford Jot., Pa., to X. Y . Stook Exchange, V. 50, p. 73: also V. 69. p. 284. Utah Fuel lst.Ss
Pensaukcn, N. J., and branches, 9.52 miles.
of 1931; see application to list, V. 78, p. 1171. 1178, 1548, 2015.
Capital stock, $1,300,000, all owned on Dec. 31 1918 by Ponn. R R .,
Rio G. W . First Consol. 4s of 1899, seo V. 72. p. 537, 775, 1189.
Tho Refunding mtge. covers the consolidated properties to secure an
which guarantees bonds, prin. & int., by endorsement, and in May 1918
had arranged to tako a lease of tho property, paying as rental a sum equal to
6% on the stock, taxes and fixed cnargos. V. 106, p. 2228; V. 63, p. 1062,
1159; V. 89. p. 1596.
refundable with D. & R. G. Ref. & Mtgo. bonds. V. 103, p. 2340. Of
DIVB.—
’06-’07. ’08. *09-’ 10. ’ l l . '12-’ 13. ’ 14. ’ 15. ’ 16. ’ 17.
1918
tho $42,061,000 First & Ref. Mtge. 5% gold bonds authenticated to June
Per c e n t
5 y ’ly 6 6 y'ly 6 6 y'ly
4
4
6
6
6
5 1918, $1,254,000 had boon acquired for the sinking fund (but in the
— (V. 101, p. 2071; V. 102, p. 1540; V. 106, p. 2228.)
absonco of default issuable to rotlro underlying bonds , $1,112,000 were
to Ward, Colo.; 26 held in tho treasury, and *7,005,000 wero plodgod undor tho Adjustment
APENVER BOULDER fk WESTERN RR.— Boulder t<
Mtge., leaving $32 690,000 in tho hands of tno public.— V. 106, p. 2559.
'*
V. 80. p .650
ndlea; Sunset to Eldora, 20 m.; branches, 5 m.: total, 51
&
t
RAILWAY STOCKS AND BONDS
R A IL R O A D C O M P A N IE S
[F o r a b b revia tion s: & c ., see notes on fir s t page]
Dc» M ..ino. & port Dod*e— Seo Minneapolis *
mnn^stook^^^OOlLOCK)1
Detroit S Macklimc—Common
stock. $2,000,000 autS
auth
^*Pref stooknon-oum $1 000 000 auth (V 74. p 020)
6
*217.000
5g
216.000
56.634
i g
56.000
6
91.000
4.000.
0004H g
1915 *1,000&c
1,000
1913
1913
1915
1916
" Y.000
1914
101
Equip notes g due *24.000 s-ann...................Em.xc*
do
Pullman C om pany.......................................
do
due *8.000 seml-ann------------- -----------------4
84.5
ISO
189
65
1887
1912
1878
1878
1895
All
1895
All
eoud Coimpan
2.72 1911
stock (p a l^ ^ o l?cu m 04%n&npartlc.foioOOiOM
1914
Adi One) M * 8 % !oOO g cum aft Jan 19 red text Ce
1916
1917
48 1903
4?J jm U | o id d « s 4 e5S 5 °j° S? g
Det & Tol Sh L— 1st M $3,000,000 g gu........ Ba.xo»&r
&A15
& 8
& O
&
Prln. & lnt In default
Feb 15 1917
M ar'19-M ar'23 Empire Trust Co. N Y
Oct '17- Oct '20 Merch L St Tr Co. Chic
July'19-July'22 Jan 1918 coupon unpaid
Apr 19 Oct '20 American Locomotive Co
,Cont & Com Tr&SB .Chic
Mar 1 1964
See text
5g
1.000 See text
Oct 1932
5g
658.000
1.000
Nov 141920
6
1.000 2.000. 000
^ Nov 15 1920
6
200 &o 3.200.000
J Jan 6 1919 2%
100 1.350.000
Jan 2 1919 2\i
2J4
In
’
18
2.000.000
100
.
Jan 2 1919 2M
960.000 5 in 1918
100
D June 1 1995
4g
1.050.000
1.000
June 1 1995
4
g
1.250.000
1.000
les."
4H g M & N M ay 11961
1.000 18.000,000
100 6.500.000
. 100 5.989.998
J Mch 1 1964
5g
1.439.000
1.000
M ch 1 1954
Dp to 5
100 &C
Nov 1 1925
6
500 7,697.l<)0
J’ne 1 1927
6M
450.000
1,000
Jan 1 1953
4 g
1.000 3.000.000
Central Trust Co. N Y
First Tr & Sav Bk. Chic
New York and London
do
do
Farmers' L & Tr Co. N Y
H K MoHarg.New York
„
J P d<> Morgand0
&Co.N
Y
do
do
Office of Treas. N Y
ffew York Trust Co
New York Trust Co
New York Trust Co
Bankers Tr Co, N Y
EARNINGS.— Years endtngLm e 304917:
ssaexs
is m *«
S S & S H S s
t
l
O
O
.
°J‘B f
O
O
O
5 % bonds.’
E l RnN iNto sb7c1.23 r s -* ( i 9 i 7 : : : : : &
ANNUAL REPORT.— For 1917. in V . 106. p. 2334:
Calendar Years—
1 okro
Averago miles operated.......................
2,580
Gross earnings-------------.$1,993.740
Gross incom e............... *447,131
Interest charges............... $489,571
Rentals. &c.....................181.430
& & £ . which
V. 88. p. 232.
$11,441
D o n S r i ” w S "?: - H h i :
*<THB> DENVEV N10N
M er' l" Rkr
e' °
SH : W R 3 8
2 °573
Gross income.................................... $8,546,743 $10,643,641
Hire of equipment...............................
$623,945
677.700
Rents, & c ..— ------------------------------4.957,826
Interest on funded dobt
- - - - - - - - 4,922,457
700,000
700.000
Interest on adj. mtgo. bonds (7 % )-304.269
303.370
Slnking and renewal funds-------------2.300,000
Additions and betterments--------------
2?576
$23,138,797
$9,004,719
$51,781
598.601
4.983.095
689,471
278.338
$1,757,600- $2,403,431
Balance, surplus_________________ $1,796,393
OFFICERS.— Pres................. ..........; V .-P ., Finley J. Shepard, N . Y .,
Sec John P. Howland, Room 915. i65 B ’way, N. Y .; Fed. Gen. Mgr.
under U. S. Govt., James Russell.
Directors.— George J. Gould. E. T . Jeffery, Arthur Coppell. Finley J.
Shomrd George G. Haven. Harrison Williams, N. Y .. Barry Bronner
and John W Flatten, N. Y.MJenJ. F. Bush. St. Louts.— (V. 107. p. 603.
695, 1099. 1192, 1481. 1919: V. 108. p. 268, 578.)
DENVER & SALT LAKE R R .— In 1918 256 miles, Denver to Craig,was
1 In operation, incl. Steamboat Springs to Craig. 41 miles, opened D ec. 1
1913 V . 95. P- 1403. 1541: V. 96. p. 1088: V. 97. p, 1503: V. 108. P. 77.
'Phe nlan by which tho city of benver was to aid in building a tunnel
through*the Contlnenatl Divide was blocked in July 1914 by a decision of
the Colo Supreme Court declaring the proposal city bonds illegal. V. 96,
d 1488? V. 92? P. 1310: V. 95, p. 1403. Il22; V. 96. p. 1488; V. 97. p.
?624 1503; V 98, p. 73. 610. 762; V. 99. p. 119, 1597.
ORGANIZATION.— Incorp. in Colo. Dec. 1912 and took over as of
May 1 1913 (per plan- V. 03. p. 890) the Denver Northwestern * Pacific
Ry.y foreclosed. V. 95. p. 1683. 1603. 1331: V. 96. o. 135. 1296. 1364.
Leases Northwestern Terminal R y..D en v till Jan. 1 1964. V-OS.0.911.
A bill for the operation of this company s property by the State or Colo
rado and construction of the James Peak tunnel was passed by the Colorado
House of Representatives on March 25 and the Senate on April 17 1J1J
but without the appropriation for $100,000 for the expenses o f bringinj
necessary condemnation proceedings and for salaries. The measure would
besubm itted shortly, it was stated in April 1919, to a referendum.
V . 108, p. 1390, 479, 268, 1610.
FEDERAL M ANAG EM ENT.— Tho U. S. RR. Administration on
Aug 24 1918 agreed to take over tho management of tho property .payim
a3 maximum compensation $351,000 annually. Out of this must be paid
the*corporate oxpenses, rentals, deferred maintenance and certain additions
and betterments, yet to bo determined. Tho receiver wr ting Sept. 10
1918 said: "Under tho circumstances, I can see no [immediate] prospect
for tho bondholders receiving anything.” V. 107. p. 1192. f
-chase
Tho RR. Administration also agreed on Aug. 24 1918 to purchase
receiver’s certificates approximating $1,402,000 with a first lion on the
property applicable as follows (V. 107. jp. 1192): Taxes. *260.000: fuel
an<l material, $300,000; all overdue equip, notes & lnt., $185,000,
arrears, $ 1 5 4 ,0 0 0 : deferred malnt., &c., $600,000.
.
The receiver’s certificates ($1,500,00(5) are to have a. firstA1®“
the 1st M . bonds and any future issuo of such certificates. Not exceeding
$575,000 wore to bo issued forthwith.
"AD VANCES” AND "STAN D ARD R E TU R N ," &c.— See pago 5.
RECEIVERSHIP.— On A tg. 16 1917 Pros. Ohas Boettcher and
W. R. Freeman of Denver were made receivers. V. 105, p.
141J.
Default having been made on Interest payment duo May 1 1910
and semi-annually thereafter on the First Mtgo. 30-year goldl bonds,
the bondholders' committee In 1917 urged deposit of the fjonds with Mer
cantile Trust & Deposit C o., 116 Broadway. N. Y ., as depositary. Com
mittee: Edward R. Tinker, Chairman: George H. Burr, F. N. b . Close.
L. O. Phipps, Eugene V. R. Thayer and Herman Walleck, with Charles D.
Makepeace, Secretary, 115 B’way, N .Y .— V. 104. P- 1800, V 106, p. 929.
Default occurred Jan. 1 1918 on N . W . Terminal bonds and a protective
committee was organized: see that co. below and V. 103, p. 268.
Protective committee for 5% equipment notes dated Mar. 1 1913, and
the 6% equipment certificates dated July 1 l 0,^ - Cbairnmn, John H.
Mason? Philadelphia. Depositaries, Commercial Trust Co. of I hlla..
Empire Trust Co.. N. Y . V. 106. p. 2756. The'Committee' ^ ^ 1 9 1 9
roturned to owners tho equipment trusts of March 1915, ail installments
having been paid to dato. V.1Q8, p.479 .
BONDS.— Over 92% assented to plan for funding coupons due in 1916.
V 100 p. 732, 811. Bankers Trust C o., New York, depositary.
June 30 1915 loans and bills payable wore $302,461: car trusts, $657,502.
EARNING S.— 12 m os.,f 1918-Gross, $2,035,509: net (bo- def.$834,049
Jan. 1 to Dec. 31.
11917-Gross. 2,065.217; foro taxes).
23,708
$11,004
$83,912
v D - 728
ToDeka & Santa F6 and Ohicago
a
. . * . nnn Ann wpta
kock
Treas.. J. C. Houston.— (V. 107, p. 1287.)
oo™ n„.
ma?E track* and branches!* 2 2 ?8 ?miKsn2 drand*sid(ftrooks?^^^^MnM?D^s
i i » m
m
m
s
m
s
s
m
®
.
T rk s G ’ w.^Handy
6 f n c e ° X y City. Mich.. Fedeml M gr.. F. A .
I K ) Detroit, Mich?— (V . 107. p. 905; V. 108. p. 268. 1274.)
S S S S S S H
flg & is iS fK g S ;
i S S S S 'S ® ?
5
owns entire $1,500,000 stock.
« icq rim
EARNINGS - 8 mos.. j 1 9 W !-G r^ s. $1.759-411: neV a* « ) .^ e t^ ililo lo
Dlty Branch. 31 m.. PTewmu
M
S
^
n
of traffic
^ m .: Hillman division. Alpena to
Henry K. M cllarg and associates control.
m v T n F N D S __On nref 2H % July 1 1903; since to Jan. 1919, 6% yly*
OnD ™ S P l S n
Jan. 191§. 5% yearly (except July 1915 anS July
19R A R N S - ^ 2 m o ^ l i g i s 8, n°-n-eGross. $1,557,633; net (before $68,571
E j L N lt o D e ^ ° 3 i:{ l9 1 7 ::::- - G r o s s . 1.350.456;
taxes.
279.415
eDjVe?aft^Tax. O t h W / l l u ^ l h m v s J O a l S ^
W } 7 S 1 . 3 5 0 ‘.457 *178.696 *108.954 $92,300 *97.500 * 9 7 .8 $
19F«iYraiM gr..'F. H. Alfred, Detroit.— (V. 107, p. 76.905: V.108. p.1610.)
, n c T D n iT PIVFP TUNNEL C O . — Owns double-tube tunnel ana ap-
S S H r f S n d « reetrlctfons for additions and improvements. Interest rate
not to exceed 5 % .— (V. 98, p. 1844.)
, nE TR O IT TOLEDO & 1 RONTON R R .— Road from Detroit. Mlch^, to
|SSJS
48
★ Control.
Government
APrlvato
Control.
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
[For abbreviations, &c., see notes on first page]
Dover & Rockaway— Stock 6% rental BOO years____
Dub & Sioux City— See Illinois Central—
Duluth & Iron Range— First mortgage_____Mp.zo&r
Duluth Missabe & Northern— 1st Dlv First Mtge.z
General mortgage gold s f, red 105___________ Nxo*
Duluth Rainy Lake & Winnipeg— See Dul Win Sc Pao.
Duluth So Sh & Atlantic— Marq H & On gen M.Ce.zo*
Duluth South Shore & Atlantic 1st M g Ce.xo&r
First consol mtge gold Interest guar__ Ce.zo*&r
Income certs held by Can Pao...... ............. ................z
Du Winn & Pac— 1st M deb stook guar by Can Nor Ry
Dul RL &Wln 1st M exten d gred 100 Joint guar.ICo*
Durham & So Car— 1st M *300,000 g red 105—MeBa.x
Durham Union Station— First M $75,000 g--G.xo*&r
Dutchess County RR— See Central New England Ry
East Broad Top RR— 1st M ext 1908 .................
2 d M Incomes____________________________________
Shade Gap 1st mortgage________________________c*
East Carolina Ry— First mortgage $300,000 gold___ x
East Mahanoy RR—Stook__________________________
East Pennsylvania— Stook 6% guar 999 vrs Phlla & R
First mtge gold guar p & 1 by P&R RR (end) kvo*
East Tennessee Virginia & Georgia— See Southern Ry
Bast Tenn &W No Car— 1st M g (V 81 d 1723)auP.zo*
Eastern Ry of Minnesota— See Great Northern
Edmonton Dunv & Br Col— 1st M debstk gu see text
1st M (on extensions) $2,420,000 g $20,000 p m ___
El Paso fit Northeast— NMRy & C col tr,g red 105.c*Nx
New Mexico Ry Sc Coal M gold____________ c*Eq.x
Alam Sc Sao Mt first mtge $900,000 gold guar__ Nx
El Paso Sc Rook Isl 1st M $2,500,000 g guar_.Eq.xo*
Dawson Ry Sc Coal col trust gold guar p & I.Ea.xo*
Miles Date
Road Bonds
...
Par
Value
Amount
Outstanding
Rate
%
When
Payable
Last Dividend
and Maturity
[Vol. 108.
Places Where Interest and
Dividends are Payable
$100
$150,000
6
A
Sc O Apr 1919 3%
143 Liberty St New York
1887 1,000 See
65 1892
361 1906
1 ,0 0 0
8,151,000
1.174,000
9,919,000
5
A
J
J
Sc O Oot 1 1937
Sc J Jan 1 1922
<Ss J Jan 1 1941
Office Empire Bldg, N Y
—
210
130 1885
604 1887
604 1890
1892
_ __ 1909
____
1906
42 1911
1905
—
50 1908
50 1908
10 1908
38 1906
____
1.077,000
3,816,000
15,107,000
3.000,000
a7,011,324
1 ,0 0 0
2 . 0 0 0 .0 0 0
1 .0 0 0
b300,000
l.OOO&o
60,000
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
500,000
404,400
92,500
300,000
497.750
2,126,900
495,000
1 ,0 0 0
500.000
1 ,0 0 0
1 0 0 &c
500
1 ,0 0 0
50
50
______
36 ______
36 1888
30 1905
357 1912
1 2 0 1910
105 1897
____
1901
31 1898
128 1901
133 1901
e i See £1.438.356
1 .0 0 0 $2,420,000
1 ,0 0 0
3,000,000
1 ,0 0 0
1,792,000
1 ,0 0 0
322,000
1 ,0 0 0
2,500.000
1 .0 0 0
3.000,000
g
5g
6
6
5 g
V
4
5g
5g
6 g
4
4
4g
4g
5
A
J
F
Sc O Apr 11925
& J Jan 1 1937
Sc A Aug 1 1990
Matured
J Sc D June 1 1939
J Sc J Jan 1 1921
M Sc S July 1 1941
M Sc N May 1 1955
4g
J Sc
J Sc
J Sc
J Sc
J &D
J Sc
M Sc
5g
M Sc N Nov 11935
0
Company’s’ ’ office’,’ "n " ’ y
55
Wall St, New York
do
do
New York or London
Held by Canadian Pacific
London or Toronto
Chase NatBk.NY; Sc Chic
Merc Tr Sc Dep Co, Balt
Guaranty Trust Co, N Y
J Jan 1 1958
405 Lafayette Bldg, Phil
J July 1 1958
do
do
J July 1 1958
do
do
J July 1 1936
Safe Dep& Tr Co, Balt
15 Dec 151918 2 >4 Reading Term, Phlla, P»
J Jan 21 1919 3%
do
do
S Moh 11958
do
do
F Sc A10 Feb
4
4K g semi-an Oct
5 g A Sc o Oot
5 g A Sc o Oot
5 g A Sc o Apr
6 g
J Sc J Jan
5 g J Sc J July
10 1942
22 1944
1 1947
1 1951
1 1928
1 1951
1 1951
Guar Tr& S D Co,Phlla
Lloyds Bank, Ltd.. Lond
Nat'l Park Bank, N Y
Equitable Trust Co, N Y
do
do
do
do
do
do
do
do
a An additional $1,210,583 pledged by Can Nor Ry V 105 P 1304
b Includes $50,000 In sinking fund Oct. 1918.
BONDS, ScO.— The Issue under the first mortgage Is not limited, but
$1,000,000 thereof will be disposed of solely to rehabilitate the property
and provide for equipment ana payment of equipment lions, and an addi
tional $1,000,000 solely for Improvements and additional facilities. Fur
ther 1st M . bonds may only be Issued thereafter from time to time, under
carefully guarded restrictions, for Improvements, extensions, Sec. The
Ohio P. U. Commission In June 1916 authorized the Issuance of $100,000
1st M . 50-year 5% bonds at not less than 88 to provide for tho purchase of
6 locomotives and 10 refrigerating cars.— V. 102, p. 2341.
Adjustment Mortgage Bonds ($8,000,000 authorized).— Entitled to Inter
est, payable semi-annually, at such rate, not exceeding 6% per annum, as
tne surplus or the net Income as defined In the mortgage shall suffice to pay.
The Interest will be cumulative from Jan. 1 1919, but there will be no right
of foreclosure until maturity of the principal of the bonds. They are callableasawhole with Interest as follows: At 70% during first year, at 76%
In 2d year, at 80% In 3d year, at 85% In 4th year, at 90% In 5th year ana
at par thereafter. Until the full 6% Int. shall have been paid for 2 successive
years and at least for 5 years from date of the mortgage, the holders have
the right to cast one vote for each $100 face amount at all meetings of the
stockholders, but this right may, at the option of the new company, be
terminated upon Its agreement to pay the Interest thereon absolutely.
The Toledo & Detroit RR. (leased) has $460,000 bonds outstanding.
"ADVANCES” AND “ STANDARD RETURN,” &c.— See page 5.
EARN IN G S.— 12 m os.,/1918-Gross, $3,413,341; net be- def.$381,800
Jan. 1 to Dec. 31.
11917-Gross, 2,903,354; fore taxes), 232,670
REPORT.— For years ending Dec. 31.
Calendar
Gross
Net
Interest,
Balance,
Years—
Earnings.
Earnings. Taxes. Rents, &c.
Sur. or Def.
1917 ...........$2,640,122
$116,020
$96,000
$130,118 def.$150,098
1916
2,325,278
552,694
75,467
141,388
sur. 335,840
"In t., rents, taxes, & c.," Include In 1916-17 interest on bonds, &c.,
$76,368; taxes, $84,000, and rentals. &c.. charges. $66,012.
J. A. Gordon Is General Manager under U. S. Govt.. Detroit, Mich.;
Federal Mgr., E. M. Costin, Cincinnati, O.
The directors are as
follows: William Church Osborn, N. Y. (V.-Pros.), Otto T. Bannard,
Sidney O. Borg, Frederick H. Ecker, Frederick II. Osborn Is Sec. Sc V.-P.
Offlco, Boyer Camp Bldg., Detroit, Mich.— (V. 107, p. 603, 1099.)
★ DETROIT & TOLEDO SHORE LINE RR.— Extends from Toledo to
(suburbs of) Detroit 47.6 m.; 2d track, 20 m.; sidings, 3 m.; trackage over
Toledo Ry. Sc Term. Co., &o., 31 m.; total track, 101.6 m. V 78. p. 2598.
"ADVANCES” AND "STANDARD RETURN,” &c.— Seo page 5.
The Grand Trunk Western Ry. and the Toledo St. Louis & Western RR.
own tho entire $1,428,000 stock and Jointly guarantee the bonds, prlnolpal
and Interest, by endorsement. See form of guaranty, V. 76, p. 653. First
dividend, 4% , paid from earnings prior to June 30 1908; In fisoal year
1908-09. 6 % . and In 1909-10. 1910-11. 1911-12. 1912-13 and 1913-14. 8%:
also In 1911-12. 8% and In 1913-14 $630,000, from accumulated surplus
paid In Is M. 4s); 1914-15, 8% and 6% oxtra; 1916, 8 % ; 1917-18, (8 % ).
EARNINGS.— 12 mos., f1918—Gross, $1,999,026; net (before $901,720
Jan. 1 to Dec. 31.
\1917-.Gross, 1,827,430;
taxes),
949,179
Year ended Dec. 31 1917. gross, $1,827,430; net Income, $853,521: othor
Income, $17,115; Interest, rentals, &c., $578,750; divs. (8% ), $177,646; bal.,
»ur., $177,646. Pres., Walter L. Ross; Gen. Mgr. under U. S. Govt.,
II. E. Whlttenberger, Chicago, 111.; Federal Mgr., F. H. Alfred, Detroit,
Mich.— (V. 106, p. 2450, 2648.)
★ D U L U T H & IRON RANOE RR.— Owns Duluth to Winton, Minn.,
120.12 m.; Tower Jet. to Tower, 1.40 m.; Allen Jet. to Virginia, 24.48 m.;
McKinley to Eveleth, 9.05 m.; Waldo to Winton, 15 m.; Mesaba to
Dunka River, 17.21 m.; Robinson to Burntslde Lake, 3.16 in.; othor
branches, 3.02 m.; branches and spurs, 90.36 m.; trackage to Union Depot,
Duluth, 0.80 m.; total, 284.60 mllos. Second track and sidings, 255.86 m.
Owns ore docks and yards on Lake Superior costing over $1,500,000.
"ADVANCES” AND “ STANDARD RETURN.” &c.— See page 5.
STOCK. &o.— Stook. auth., $10,000,000: out., $6,500,000. Federal
Steel Co. (see U. S. Steel Corp.) owns tho stock. First Mtge.. authorized,
$25,000 per mile for construction and 37.000 for equipment. Dividends
since 1904: 1905, 65%; 1906, 40% ; 1907, 80%: 1908, 80% : 1909, 145%; In
fiscal year 1909-10, 100%; 1910-11, 135%; 1911-12 and 1912-13. 90%;
1913-14, 75%: 1914-15. 20% ; 1915-16, 50%; 1916, 25%; 1917, 12%.
EARN ING S.— 12 m os.,11918.-Gross, $8,978,930; net (after $4,234,188
Jan. 1 to Dec. 31.
\1917—Gross, 7,371,399; taxes),
2,953,315
REPORT.— For year ending Dec. 31 1917, V. 107. p. 176:
Cal.Yr. Gross.
Net.
Oth.Inc. Int., tic. Dividends.
Surplus.
1917—$7,182,616 $2,301,354 $197,617 $755,862 (12)3780,000 $963,109
1916— 7.015,736 3.158,538 225.843 741.670 (25)1.625,000 1,017,711
Fed. Mgr. under U. S. Govt., F. E. House, Duluth, Minn. -(V. 106. p.
2756; V. 107, p. 176, 1003. 2097.)
★ D U L U T H M I S S A B E & N O R T H E R N R Y . — Owns from Stony Brook to
Mountain Iron, Minn., 48.32 m.; Missabe Jet. to Columbia Jet.. 29.34 m ;
Iron Jet to Blwablk, Minn., 15.37 m.; Wolf to Hibblng, Minn., 17.20 m.;
Wolf to Virginia, Minn., 6.30 m.; Hull Jet. to Hull Rust Yard, Minn.,
18.15 m.; main line branches, 36.38 m.; branch from Alborn northwesterly
to Coleraine, Minn., 53 miles; other branches and spurs, 152.07 mllos; sec
ond track and sidings, 343.55 miles: trackage to Union Dopot, Duluth, 1.9
miles, and Missabe Junction to Spirit Lake Transfer Connection, Minn.,
5.83 m. Also leases from Spirit Lake Transfer Ry. (V. 104, p. 004) and
Interstate Transfer Ry., 24.90 m.. with 2.10 m. branches and spurs and
14.38 m. yard tracks and sidings. Owns extensive oro docks at Duluth.
Entire $4,112,500 stock controlled by U. S. Steel Corp.
"ADVANCES” AND "STANDARD R ETU R N," &c.— See page 5.
BONDS.— Of the Gen. 5s of 1900, bonds are reserved to retire the under
lying bonds; additional bonds may be Issued at not over $30,000 per mile foi
additional single main track and $20.000 for second, third and fourth main
tracks and for not over 75% of cost of Improvements, See. Sink, fd., 2% yly.
(Incl. bonds In sinking fund) retires by lot at 105. Dec. 31 1917 $2,470,000
in sinking fund. V. 88, p. 822; V. 98, p. 1693, 1844.
DIVIDEN DS paid fiscal years ondlng Juno 30: 1912, 100%: 1913. 85%:
1914, 75%: 1915, 10%; 1915-16, 75%; 1916, 100%: 1917, 50%.
R E PO RT.— For calendar year 1917, in V. 107, p. 76:
Cal.
Gross
Net, after
Other
Interest,
Dividends Balance.
Years. Earnings.
Taxes.
Income.
&c.
Paid.
Surplus.
1917..$15,300,600 $5,727,001 $299,066 $1,215,112 $2,056,250 $2,754,705
1916.. 14,389,278 7,823,688 209,596 1,171,115 4,112,500 2.749,669
F. E. House is Fed. M gr., under U. S. G ovt., Duluth.— (V. 107, p. 2097.)
A DULUTH & NORTHERN MINNESOTA R R .— Knife River, Minn, to
Meredith. 80 miles, and extension Milo Post 87 to Milo Post 99, 12 miles.
Capitalization at last accounts, $1,000,000 capital stock, in $100 shares; no
bonds. Pres., B. W. Arnold, Albany; Treas., Russell A. Algor, Detroit.
★ DULUTH SOUTH SHORE & ATLANTIC R Y .— Operates Superior to
Sault Ste. Marie, 410 miles: “ Soo" Junction to St. Ignace, 43 miles: othor.
173 miles; total. 626 miles, Including 26 mllos of trackago and 600 owned.
“ ADVANCES” AND “ STANDARD R E T U R N ,” &c.— Seo pago 5.
STOCK.— Common, $12,000,000; pref. 0 % non-oum.. $10.2 9 ° / ^ ° ^ ar> b° th s l 9°- Can- Pao- °ec311918ow ned $6 , 1 0 0 ,0 0 0 com. and
55.100.000 prof, stock.
BONDS, &o.— Abstract first mortgage, V. 45, p. 274.
The First Consolidated mortgage of 1890 has Interest at 4% , guaranteed
by Can. Pao., which July 1 1916 held the entire outstanding Issue ($15,107,treasury as security for Its 4% debenture stock; consols for $4 393.000 are reserved for prior bonds, and additional amounts may be Issued
Per m,Ie of new ,lnos- Canadian Pacific Ry. Doc. 31 1918 held
$15,107,000 consols, $3,000,000 overdue income certificates, and on Dec
31 1917 equip, obligations, $86,213; non-negotiablo debt, $1,465,000:
matured interest guaranteed, & c.), $10,148,615; car trusts, $493,000.
EARNINGS.— 12 m os.,(1918—Gross, $4,824,187; net (before $561,166
Jan. 1 to Dec. 31.
U917—Gross. 4,316,295;
taxes),
863,723
REPO RT.— For year ending June 30 1917, V. 105, p. 1305; for half year
ending Dec. 31 1917, V .106, p. 1893.
Year—
Gross.
Oper.Inc. Oth.Inc.
Charges.
Balance.
1910-17 (year).$4,074,693 $827,379 $62,818 $1,059,672 dof.$169.770
1915-16 (year)- 3,506,792 772,614
58,678
971,612 dof. 140,320
1917, 6 m o s ...... $2,256,449 $471,774 $$4,010 $657,150 dof.$131,360
1916, 6 m o s ........ 2,014,847
626,763
32,354
611,157
sur.47,960
Pres., Edward Pennington; Sec.. W. n . Peck. Fed. Mgr. under U. S.
Govt., G. R . Huntington, Minneapolis; Fed. Treas., W. J. Ellison. Mar
quette. Mich. V. 106, p. 2756; V. 107, p. 1100, 1481.)
A DULUTH WINNIPEG & PACIFIC RY.— Owns entire $2,000,000 stook
of Duluth Rainy Lake Sc Winnipeg R y., Virginia, Minn., north to the Cana
dian Northern at International Falls, 98 miles, giving that road access
to Duluth and Two Harbors: Virginia to Duluth. 81 miles. Capital
stock auth., $0,000,000; par, $100.
Controlled by Canadian Northern
Ry.. V. 98, p. 1001: V. 102, p. 152.
SECURITIES.— The first mtge. 4% deb. stook of 1910 Is guar., p. & L. by
the Canadian Northern Ry. Of tho $10,500,000 auth. issue. £1,473,353
has been sold. $1,525,000 was Issued to retire existing securities, $2.
000,000 Is reserved to retire the Duluth Rainy Lake & Winnipeg bonds (ex
tended In 1910 to 1921), the remaining bonds to be available for further ex
tensions, &c. On payment of D. R L. & W. bonds In 1921 Its property
will be transferred to the company, so that the debenture stock will become
a first charge on 173 miles, tho D. R. L. & W. stock In tho meantime being
vested with the trustees, the National Trust Co. of Toronto and the Britlsn
Empire Trust Co. V. 102, p. 152; V. 90. p. 1490; V. 91. p. 164, 1322.
The $2,000,000 Dul. Rainy Lake & W. bonds were extended In 1916
to Jan. 1 1921 (callable at par & Int.) with the unconditional guaranty of
prin. and int. of Dul. Winn. & Pac. and Can. Nor. V. 102, p. 152.
In Doc. 1917 made a mortgage to secure aomand loan from Canadian
Government. V. 105, p. 2304.
EARN ING S.— 12 m os..11918.-Gross, $1,712,066; not (beforo $226,674
Jan. 1 to Dec. 31.
11917—Gross. 2,026,109; taxes),
490,736
A DURHAM & SOUTH CAROLINA R R .— Durham. N. O., south 42
miles to Duncan on Norfolk & Southern. Stock, $500,000; par, $100
P.°J1«5,,.seo table- Year 1918, gross, $183,160 not, $88,602; int. on bonds.
$15,000: surplus, $73,602. Pres., Ernest Williams; Aud., R . S. Harris
Lynchburg, Va.— (V. 100, p. 189.)
’
★ DURHAM & SOUTHERN R Y .— East Durham to Dunn, N. O., 5 7 m.*
Durham to East Durham, 2 m. Stock authorized, $2,000,000; out. $1 350.000; par, $100. In 1910. gross, $375,190; not, $199,489; othor Income
$2,722; taxes, $17,686; charges, $15,378; divs. (8 % ), $108,000; surp.
$61,148. Divs. of 24% were paid in 1910-11; in 1911-12, 24%; In 1912-13.
14%; in 1913-14, 11%: 1915. 7 H % : 1916, 7 % . Since. (?)• Pres., B.
Duke, N. Y .; Sec., A. B. Cauthen; Fed. M gr., W . J. Harahan, Norfolk
Va. Office, Durham, N . O.
★ DURHAM UNION STATION CO.— Owns passenger station at Durham,
N. 0., opened May 1 1905 and used by the Southern Ry., Seaboard Air Line
R y., Norfolk Sc Western Ry. and Durham Sc Southern, which each own onefourth of $33,300 stook. Lease provides for rental by several lines sufficient
to pay Int. and other charges. Pres., H. W. Miller; Sec.. O. D . Mackay.
A EAST BROAD TOP RAILROAD CO. (Pa.)— Owns from M t. Union;
Pa., to Alvan, Pa., 33 miles; Orblsonla to Neolyton, Pa.. 10 miles.
Rocky Ridge to Evanston. Pa., 4.93 m.; Coles to Midvalley, 2.50 m.; total:
50.03 m. A coal road opened In 1874. V. 97. p. 1603, 1822. Stock.
$938,700 (par $50). of which $246,000 Is 0% non-cum. pref. Second mtge.
4% Income bonds. $464,400. due Jan. 1958. given In 1908 for back interest
from 1885. Year Dec. 31 1918, gross. $515,827; net, $101,438; other in
come, $ 19 723: Interest, $42,276; pref. divs. (6 % ). $14,805;com. divs. (6 % ).
$41,472; bal., $10,867. In 1917, gross, $429,608; bal., sur., $131,158.
Office, 406 Lafayette Bldg., Phlla.— (V. 97. p. 1370).
*
’ 08>
Ape., 1019.] *gS™r“
RAILROAD COMPANIES
[For abbreviations, &c., see notes on first page. ]
Miles Date
Road Bonds
Amount
$100
1 .0 0 0
000
000
000
50
50
1 ,0 0 0
1890
1 ,0 0 0
100
100
100
447
447
447
475
475
60
526
526
67
1847
1849
1853
1857
1858
1861
1870
1878
1877
12 1868
250 1890
39 1905
32 1907
1888
500
50
50
50
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
1 .0 0 0
500 Ao
200 Ao
1 .0 0 0
500 &o
50 Ao
1 ,0 0 0
1 .0 0 0
1 .0 0 0
.000 Ac
1 ,0 0 0
When
Payable
Last Dividend
and Maturity
in 1917
Sept30 1918 2%
5 g j & j Jan 1 1923
1
5g
Jan 1 1919-1935
1
5 g M & N May 1 1941
1
6 g
J & J July 1 1941
1
6 g
M & N M ay 1 1944
Up to 8 %
M ay 1 1 9 4 4
1
5 g J & J July 1 1924
1
5
M & N See text
1
7
See text
1
4
J & J Jan 1 1950
'
5
A & O Oot 1 2862
Text
F & A See text
Q— M Mar 1 '19 1%
7
7
Q— M
3^ g J & J
8
1 ,0 0 0
1860
1863
Rate
%
49
Places Where Interest and
Dividends are Payable
a
458 1903
2.81 1905
181 1891
1911
1914
1911
1884
Par
Value
1
0
El Paso Southw estern Co— Stk (auth $35,000,000)
El Paso & S W RR— 1st & Ref M g $25,000 p m _ „ F
BUPaso Union Pass Depot— 1st M g $240,000 sf.Eq.x
Elfin Joliet & Eastern— 1st M ($10,000,000) g.Cex.o*
Elkin & A lleghany— 1st M gold red 107>S-Ba.x*c
1st A Ref M $3,750,000 gold...................— -C ol.
Income bonds $750.000____________________ Col
Elmira & Lake Ont— Sodus Bay A So— 1st M g.Un.xo
Elmira & Williamsport— Stock oom 5% rental___ N.o
Preferred stock 7% rental 999 years Northern Cent
First mortgage extended 1 9 1 0 _________________ kv
Income bonds 999 years to run________________zo*
Erie & Kalamazoo (leased) stock Toledo to Palmyra
Erie & Pittsburgh—Stook 7% rental 999 yrs Penn Co
Special guaranteed betterment stook $2,500,000
General mtge (now 1st) $4,500,000 gold guar.U nk
Erie Railroad—Common stook $153,000,000 auth
Second pref stook 4% non-oum redeemable at par
First pref stook 4% non-oum redeemable at par "*
A— Old Bonds Assumed— Roads Consolidated '
N Y & Erie 1st M Plerm to Dun ext 1897 gold xo
Seoond mortgage (extended In 1879) gold
zo*
Third mortgage (extended In 1883) g o ld ..
zo*
Fourtn mortgage (extended In 1880) gold.
zo*
Fifth mortgage (extended in 1888) g o l d __ xe*
Erie Ry 1st M Buff Br Hornellsv to Attica gold zo*
First oonsol mtge $30,000,000 gold $ or £ F zo*
N Y I i B A West First Consol mortgage gold
zo*
Buff A 3 W 1st M gold ext 1918 at 6 % red 105 g7xo*
Newburg A N Y 1st M gold extended In 1889
vo*
Ch A Erie 1st M g (Marlon O to Ham’d Ind) Ce zo*
Erio & Jersey 1st M g s f red te x t..
O c*Ar*
Genesee River 1st M gold s fd red text
G.c*Ar*
Chicago & At'antlc Term 1st M ext 1918 gold—CezB— Erie Railroad Company Bonds
2nd mtge on Buff & S W gold ext 1918...........Q xo*
First Consol Mtge of 1895, securing—
(1) Prior lien bonds $35,000,000 gold—F.xo*&r
(2) General lien $140,000,000 gold___ F.xo*&r
April 1907
April 1907
........... "
Farm L & Tr Co. N Y
Equitable Trust Co, N Y
71 Broadway, New York
Treas Pa RR.Phila&N Y
Broad St Station, Phila
do
do
do
do
,,
do
do
Lincoln Nat Bank. N Y
AmerExchNatBank.NY
_
do
do
Penn R R Agent. Phlia
2% J P Morgan &~Co'," n" Y
2%
do
do
4 g M A N May 1 1947
5g M A S
4H g M A S
5 g A A O
1 1920
4g J A D
4g J A J
7g
M A S .
7g M A S
(5) 6 g
J A J
250.000
5g J A J.
1 1929
1 2 ,000.000
A N !
§6 g
e M
7.327.000
J & J.
5.941.000
6 g
J & J
300.000
5g
J A JJ
do
do
do
do
do
do
do
do
do
do
do
do
do
do
da
do
do
do
do
do
do
do
50 Church St, New York
do
do
do
do
67 1895
1 .0 0 0
1 .0 0 0 ,0 0 0
5 g
J
A
J July
J
1928 (text) 50 Churoh St. New Yorlr
1895
1895
1 ,0 0 0
1 .0 0 0
35,000,000
r35,885,000
4g
4g
J
J
A
&
JJ
Jt
A EAST CAROLINA RY.— Owns Tarboro to Hookerton, N. C „ 38 miles
incorporated In North Carolina July 1 1898. Leased to Pres. Henry O
Bridgers for 4% yearly on stock, payable Dec. 10. In Jan. 1919 short
Hnoi contract with U. S. Govt, was signed. V. 108, p. 480. Stork auth
$200,000; outstanding Juno 30 1916, $55,500; par, $100. Bonds, seo table
ablve. Lor year ending Juno 30 1910. gross, $70,553; net, $18,715: other
Incomo, $0,655; lnt., Ac., $25,371; balance, none. Pres Treas & Gen
£?rgr(k iIenr?o9\ Bridgers; Sec., Haywood P. Foxhali. Office, Toronto.—
(V. 108, p. 480.)
★ EAST MAHANOY RR.— Owns from East Mahanoy Junotlon to St
Nicholas and branches, 11.35 m.; 2d track, 4.26 m.; total track 20 07 m'
Re-leased Deo. 1 1896 for 999 years to Little Schuylkill Nav. R R . A Coal C o’
at 5% on stook.and lease assigned to Phlia. A Reading Ry. Of the stock'
$280,000 was deposited by Reading Co. under Its general mortiracn
Fort
M gr., Chas. H. Ewing, Philadelphia.— (V. 106, p. 923.)
b ’
ea"
★ EAST PENNSYLVANIA RR.— Owns Reading, Pa., to Allentown Pa
35.77 mllos; miles 2d main track, 34.64; all track. 101.21 m. Loased for QQQ
years from May l 1869 to the Phlia. & Reading RR. a t a r e n t a l o f 6 w nnr
ann. on the stock & lnt. on bonds A taxos. Lease assumed in 1896 hv
Phlia. & Read. Railway Co. Of the stook, $1,275,300 was owned by Read
ing Co. Doc. 31 1918. $1,271,450 being depositedunder gen. m t g e o f 1897
M
APrlvate
Control.
RAILWAY STOCKS AND BONDS
L S . i 's r tm »:
S fe K ft
Capital stock, $490,800. Dividends, 4% paid since 1908-09- in iono in
8% ; 1910-11. 9% & 10% extra: 1911-12, none; 1 9 1 2 -1 3 .1 8 % -1 9 1 8 ^ 4°
17%; 1914-15. 15H % ; 1915-16, 13H % : 1917, 4% . F o rT e a r e n d ln *
Doc. 31 1916. gross, $271,162; net, $129,757; other Income $7 69L interest8
&c.. $43,976; div. (12H % ). $61,350: sur., $32,122. For lb l7 ! grb^i # 2 8 8 ’
404; not, aft. taxes, $90,353. Pres., F.P.Howo, Johnson C it y __Vv 9 6
EDMONTON DUN VEGAN & BRITISH COLUMBIA RY — From
Edmonton, Alberta, through Dunvcgan to the western boundary o f the
Province at Spirit River, 357 miles, was placed In operation in Nov 1 9 1 6 ®
together with lines from Spirit River to Grand Prairie, 55 miles and the
Central Canada Ry. (V. 100. p.1436), Winagaml to Peace River sa’ iz mi|ese
Carbondale, Alberta, northward to Lac la Bicho, Alberta 1112 mil™
V. 102, p. 975.
The 30-year 4% debenture stock (at present I m-'
Ited to $7,000,000, at $20,000 per mile, on said 350 m .), Is Issu^ unde^a
trust deed dated July 22 1912 to the National Trust C o., Ltd trustee and
Is guaranteed, prln. A int., by the Proviuce o f Alberta. Tho *2
nnn
1st M . 4Hs of 1916, with samo guaranty, cover 120 miles of extensions
V. 103, p. 938. See V. 95. n. 1273; V. 96. p. 419, 1422. Pres T n
McArthur of Winnipeg. V.-Prcs., M . Bailey.— (V. 107, p. 1919 )’ ’
EL PASO & NORTHEASTERN CO.— Owns the El Paso & Northeastern
R R . and Ry. from El Paso, Tex., to Corrizosa, N . M . 1 4 4 m il e s with
branches. 25 m.; controls and operates El Paso A Rock Island Rv Oarri
gosa to Santa Rosa. 128 m.; Alamagordo A Sacramento Mtn Ry ‘ Alania
xordo ,N. M .. to Russia. 31 m.: Dawson Ry.. Dawson to Tucumear’l n a*
132 m.; Burro Mtn. R R .. Jet. to Tyrone, N. M .. 13 m.; total.'470 miles’
Name changed from New Mexico Ry. & Coal Co. in 1905 Onnrated
as eastern division of El Paso & Southwestern Company.
See below aica
The Dawson Ry. & Coal Co., stock $100,000, has Issued $3 000 000
collateral trusty bonds, which are guaranteed, principal and interest and are
secured by the‘ stook and bonds ($3,000,000 each) of the Dawson Rv and
those of the Dawson Fuel Co. ($1,000,000 eaoh), the latter owning about
25.000 acres of coal, mineral and timber lands, being sold in 1905 to the
Stag Canon Fuel Co. V. 73. p. 900: V. 74, p. 776; V. 87. p. 1604 1536th
STOCK.— Stock. $12,000,000. Owned by El Paso A Southwestern Co
BONDS.— The New Mexico Ry. & Coal Co. ooll. trust 5s of 1897 are
secured by the stook and bonds of El Paso A N. E. Ry. of New Met is<? 0
700.000 of eaoh). the stock of the El Paso & N. E. R R . of Texas $300 non
(no bonds Issued), and all the stock ($100,000) and all the bonds ($1500
000) of tho New Mexico Fuel Co., the latter covering 3.500 aores of coal
lands. V 74. p. 776. The other issues are guaranteed
ooal
Now York office. 99 John St.— (V. 87. p. 1605.)
★ EL PASO SOUTHWESTERN CO.— A holding company, controlling
the El Paso & N. E. Co. W hich se0 above) and El Paso S.\V.RR. (see be ow?
and other properties. Capita stock $25,000,000 (largely owned
Pin Ir^
Dodge A Co. mining Interests). In 1917 tho $2,000,000 funded debt Iras
pakfoff out of surplus earnings
Dividends: 1910. 7% cash and 10%
1911 to 1915. 5% yearly; 1916, 6% ; 1917 to Sept. 1918. Ind., 8% p a ’
. EARNINGS.— 12 m os..(1918-G ross, $14,790,468; net (bof. $6 161 4 4 7
Jan. 1 to Doc. 31.
11917—Gross, 13,634,863; taxes), 0'334’ 901
R E PO RT.— Report or ontiro system (1,028 miles) for year’ ending
Dec. 31 1917, V. 107, p. 691:
*
onaln8
1917
1916
Deduct—
19$17
1910
Oper. r e v s ...13,634,863 12,614,004 Rentals, A c „ 4.036.459 4.440*564
Not, aft. tax. 5,707,085 5,610,926 Interest.........
23,361
ino 7 an
Other Incomo. 2,424,174 2,514,516 Dividends (8 )2,000.000(6 ) 1,500 000
50 Church St, New York
do
do
on a wneeiago pasis providing tor maintenance and all charges q#.—i,
auth. $240 000; outstanding $88,800. Owned equaily by six r ^ d l
★ ELGIN JOLIET & EASTERN RY.— Owns from Waukegan, 111., on Lake
Michigan, via Spaulding and Joliet, to Porter, Ind., 129.95 miles and
branohes Normantown to Aurora. 9.63 m.— Walker to South WiimimrtAr,
III.— 32.72 miles; Hammond to Whiting, Ind.. &o 8
X H
°-..L - *ri *
co" n®ct,on, 7.02 miles; Rockdale Junction to Rockdale 6 51
Cavanaugh to Shearson, Ind., 2.18 miles; total main line oWned
oH, ;96^ ilTi: r?urs„t0 C0? m nef • &c., 42.06 miles; trackage, 244.23 ™ t e :
s*dc anc* Yard tracks owned, 180 43 miles- total’
703.33 miies. Also leases Chic. L. S. & East., 16.14 m ite w M 31051
m ite branches and spurs and 14.87 miles 2d track, and 143 85 yard tracks
and sidings, for 60 years from Juno 1 1909, and. with the U. S Steel Corn
6 % : w t e r « o 4n>? % bo“ K - • 4 ■: v - «»•
> « o .o S a a r t e
'* j “ e
■ »'
EARNINGS.— 12 mos., f 1918-Gross, $20,685,049- net (bef $ 5 RQO 7 7 9 .
Jan. l to Dec. 31.
\l917.Gross, 15.816.473; taxes)
4 818 752
Devpn}
r ®r0-ss
Net, after Other
Interest, Dividends ’Balance
, _ Y~ar
Taxes.
Income. Rents, &c.
(4%)
Sumin*’
m l f l ------$15,816,473 $4,199,663 $214,824 $3,588,746 $400 000 $425 742
1916 - — 14 138.323 4,731,971 199.539 4 194 705 400 000 226 865
Pres., A. F. Banks; General Mgr. under li s Govt s' m ttnLiSSr
Chicago; Fodoral Treas., F. L. Koontz. (V. 107,’ p. 096! 1003. 11g^.)” ’
A ELKIN & ALLEGHANY R Y .— Constructed b y the State o f N orth Caro-.
from Likin, N. O., to Veneer, 15 miles. C. B. Penney and M w
Thomson wero made receivers in Dec. 1915. Foreclosuresalnn^ter^H’
Stock outstanding, $436,400; par. $100.— (V. 105, p. H522?)
ordered»
★ ELMIRA & LAKE ONTARIO RR.— Owns from Canandaigua N Y to
ohemung Jot.. 64 m ; Sodus Point to Stanley. 34 m.; other. 2— total 100m
Leasod to tho Northern Central, which owns all the $lT500 000 stock*
noHce.R Rentelf^niet Warnings.91^’
fo w
.......... $1^6ofo58
1916................... 1.355.492
Lease may b°
oper/Tnc.
$768
oper. inc. 3o!771
7 $2 4 0 %7 5 5
211.186
$2 ^ 7 5 5
180.416
Lr!mi'rnI N/V£ '7 2
1AntSP° R T R R O w n s from Williamsport. Pa. to
LImIra, N. Y .f 73.49 miles. Leased to the Northern Central Ry for QQQ
rrara from M ay 1 1863. Lease was assumed in 1914 by P e n n ^ R Cki
The divs. on the com. stock are 5% and on the pref 7% tes
div. on com. 4.52%. and on pref 6.32% . The $963 000 l^t 6s due^an ?
!910 were extended to Jan. 1 1950 at 4% . V. 89, p. 1667 1 Cal year iffllV1
(V 97, f)!36662)°; doductlons' ^70.032; divs., $59,742- surplus^ $242.—
★ ERIE & KALAMAZOO R R .— Vulcan near Toledo to Palmyra 22 miles
i"mSnnnln P0I'P''tu‘ty in l849 to Lake Shore (now N. Y. C™nteal R “ ) at
1 9 1 8 1 9 7 o . ° v a T o b . p.l 8id7 nds 1 9 1 3 t o 1 9 1 6 ' 9 ^ %
P ® ann; 1917. 9 H % ;
★ rERIE & PITTSBURGH RR.— Owns New Castle, Pa., to Girard Pa
7.).o6 miles; branch to Erie docks, 3.41 m.; trackage to Erie, 16.74 m .’ total
operated, 99.71 miles. Leased to Penn. R R . for 999 years In 1870 at 7%
on stock and interest on bonds and since Jan. 1 1918 operated & H y by
t. Under agreement of Nov. 1 1905 the Penn. RR. provfdoslinking fund
Installments required by tho gen. mtge., tho E. & pP to deliver its83 « %
debentures at par for such advances and at maturity of the Gon Mtge
$596%70.°XC ang0 “ eW mtge* b0nd* thorefor- Debentures Dec. 31 1918.’
STOCK.— The special betterment stock ($2,500 000 auth i i« stihnrHin,t»
to the old stock but guaranteed 7% dividends,
subject to a 4-mlll tax on assessed value, on special betterment? tax-free? °
— Loss to the lessees in 1912. $46,222- 1913 nrofit S38 3 3 2 -
★ ERIE RAILROAD — (See Map on preceding page.)— Embraces trunk linn
from Jersoy City to Chicago, 111., and branch^ 2 257 m il«-s^ on ri franS®
1.236 miles; third and fourth tracks. 37 miles; total.'all n^in c’r acks?3,530.k ’
Lines Owned in Fee—
Miles.
Leased Lines—
Miles.
Piermont. N. Y .. to Dunkirk
4 4 7 Avon Gen. & Mt. Morris..... * 1 5
Buffalo to Jamestown, N. Y_
6 6 Montgomery & Erie_______
mo
Buffalo to Corning, N. Y ____”
140
Northern R R . of New Jersey.I *26
Hornell to Buffalo_________ ”
9 2 Goshen & Deckertown_____ M2
Other branohes__________
206 Rochester & Genessee Valley
*18
Slock all (a) or nearly all (b) owned. Other
T o t a l ......... 8,131.259 8,125,442] Bal., su rp .. 2,071,439 2 082 6 9 9
lines___________________
uv
aChlcago & Erio R R __________ * 2 5 0
„ Pros., T. M . Schumacher; Sec.-Troas.. Geo. Notman; Federal M er
Leased
to
Nypano
RR.—
aJefferson R R ________
*45
G. F. Ilawks.— V. 107. p. 691.
ivlgrCleve. & Mahoning Valley RR »81
N. Y. & Greenwood Lake R Y
* 5 4 Sharon Railway_________
* *ai
★ EL PASO & SOUTHWESTERN R R .— El Paso, Tex., to Tucson Arlz
Erie & Wyoming Valley R R __
64 Other lines____________
ie
and branches, 45t mllos. Forms the western division of tho El
a N y p a n o R ailroad___________
4 2 2 Trackage.........................
75
Southwestern system (soo El Paso & Northeastern Co. above). Its $14 nnn
bTioga
Railroad______________
6
8
000 stock and $5,055,000 1st M . 5s being hold by tho El Paso A South
lines___________________
4 9 Lines in system Dec. 31 1 9 1 7
2 259
western Company, which see.
n~ Other
• See this company.
N. Y. Susquehanna & Westernl *221
"AD VAN CES” AND "STA N D A R D R E TU R N .” Ac.— See page 5
Oon. Mgr. under U. S. Govt., G. F. Ilawks, El Paso, T ex as__(V 162
Frontier Electric R R ., V. 106, p. 1900?CW Jersey * New York
*38
P. 1705; V. 101. p. 287: V. 107. p .8 2 , 498, 1003.)
(
103,
HISTORY.— On Deo. 1 1895 succeeded, per plan in V 61 n
★ ELPASO UNION PASSENOER DEPOT CO.— Owns depotat El Paso
N
:
J
-Lake
Erie
&
Western
RR.
Co.,
sold
in
foreclosure
under
It’
s
Second
con?
le x ., which was completed about Nov. 1 1905. Leased by El Paso North
soiidated mtge. The oompany holds In fee or through ownership of afl Sr
eastern, El Paso Southwestern, Galveston Harrisburg A San Antonio (Sou
Pac. Sys.), Atch. T op. A Santa Fo, Texas A Pac. and Mox. Cent, railroads practically all the stock of the subsidiary companies the line from New
York to Cbloago (including the Nypano RR. and Chlo. & Erie companiesr
R A IL W A Y STOCKS A N D BONDS
iV ol . 108
01
A p e .. 19l9.| * g S ,T e“
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
(For abbreviations. &c.. see notes on first page]
Miles Date
Road Bonds
Par
Value
Amount
Outstanding
Rate
%
When
Payable
APrlvate
Control,
51
Last Dividend Places Where Interest and
and Maturity
Dividends are Payable
Erie RR (Concluded)—
Penn coll trust M $36,000,000 g s f (text) Ba.xo&t
F Sc A Feb 1 1951
1901 1,000 &o x34.000.000
4g
General Mortgage (Series A, $10,000 000._Q.xc*&r
A Sc O Apr 1 1953
4g
1903 1,000 Sco 10.000.UUU
convertible.
(Series B $12,000.000____xc*&r
1903 1,000 &o sll.015.000
A Sc O Apr 1 1953
4g
*50.000.000 . . . ISeries D, $28,000,000----- xc*&r
A Sc O Apr 1 1953
100 &<: u l9627,100
4g
1903
Refunding & Impt Mtgo $500,000,000 g Ser A __ Ba
500 tNone M ch’ 19...........
1916
__ 1919
Collateral gold notos $15,000,000 g call 101 Ba.yc*
A St O Apr 1 1922
1.000 15.000.000
6g
Equipment trust cortfs— soo table in te x t _________
Avon Genesco & Mt Morris and Rochester Sc Gonesee Valle y Stoo ks— See t hose Compa nles.
C— Bonds on Properties Controlled by Ownership of En tire (•) or a MaJ orlty (6) of Capital S took, or by (c) Lease
Bergen Co 1st M Rath Jot to Rldgew ext 1911 . . . x
A Sc O Apr 11921
200,000
5
10 1881
1,000
cGoshcn Sc Deok’t’ n 1st Sc 2d Ms ($60,000 are 2d).z
Various 1928-1929
246,500
6
08-’ 69
cMont Sc Brie 1st Sc 2d Ms ($40,500 are 2d )_____z
Various 1926-1927
170,500
5
’66-’ 67
Jofforson 1st & 2d Ms ext (Honesdalo Branch)____
500 &o
300.000 4 H Sc 6 J Sc J July 1 1927-29
8 '67-’69
1st M Carbon to S depot g ext 19 red 105.-FP.xo"
5>4 g A Sc O Apr 11929
37 1889
1,000 2,800,000
Long Dook Co oons M g (now 1st M) (see text) .xo"
6 g A Sc O Oot 1 1935
1,000 7.500.000
1885
cN Y Sc Greenw L prior lien M $1,500,000 gold._Nx
62 1890
5 g M Sc N May 1 1946
100 Sco 1,471.900
ONew Jersey Sc New York 1st M ext In 1910._.xo*
394,000
M Sc N May 1 1950
34 1880
500 &o
5
General mtge $1,200,000 (red 105 after 5 yrs) g _x
631.000
J Sc J Dec 31 1932
500 Sco
5
1892
N Y L E & W"C RR 1st M "lawful money” .Mo.zo*
6 our M Sc N May 1 1922
1,000
1,100.000
1882
NYLE&W D&ICo exg’ 13red toxt(V96,p 1776) F.xc*
1,000 3,396.000
1883
5 g J Sc J July 1 1943
N Y Pa Sc Ohio prior lien mtge gold $ or £ __ F.zo*
444 g M Sc S Mch 11935
422 1880
500 Sco 8.000.000
Do Leased lines—see separate statements for Cl ovelan d & M ahonlng Valley RR and Shar on Ry
N Y Susquehanna Sc Western— Northern New Jers ey— T loga R R —See e aoh oompan 7
Essex Terminal Ry Co first mortgage____________
j
St J July 2 1942
22
420,000
5
Evansville & Indianapolis— Recoiv certlfs call 101.
St J Jan 1 1920
134 1917
5 6 0 &c
600.000
6
.7
First mortgago gold guaranteed____________ F.xc*
54 1884
1,000
647.000
6 g j St J July 1 1924
Cons M ($2,500,000) g gu p&l(end) E&TH..F.XC*
134 1886
Sc J Jan 1 1926
1,000
1.853,000
6g j
Evansville Sc Terre Haute—See Chicago & East 111! nols
Fernwood & Gulf RR— First mortgage $500,000 -----32 1911
1.000
450,000
M Sc N May 1 1936
6
F itch b u rg RR— Bonds— Sec Boston & Maine RR ab ovo.
do
do
do
do
do
do
50 Church St. New York
50 Church St, New York
50 Church St, New York
Fidelity Trust Co, Phila
50 ChUroh St, New York
J P Morgan & Co. N Y
do
do
50 Church St, New York
do
do
do
do
do
do
J P Morgan Sc Oo, N Y
Mech St Met Nat Bk. N Y
July 1914 coup not paid
do
do
InterstateT&BkOo, N O
r s t u Further amounts ownod by company Dec. 31 191 8 as fo Hows: Of r $19,217,0 00 pledge d. $2,000 unpledged; s $4 39.100 pledged, $545,909
unpledged; t $14,650,000 pledged. $350,000 unpledg ed; u $8,372 ,900 pled god. x Incl udes $10, 851,000h eld by sinking f und.
GOAL P R O PE R T Y .— The allied coal properties at last advices aggro
gated 12,400 acres o f anthracite, o f which about 9,000 acres, and 53,009
acres o f bituminous coal lands were hold by allied companies, 14,000 acres
of bituminous held under mineral rights. Its coal and coke tonnage In
theyoar 1916 aggregated 19,082.331 (40.46%) out of 44,359,341 tons hauled.
Penn, coal properties acquired in 1901 are additional. V. 82, p. 1322.
STOCK.— Prior and General Lien bonds of 1895 have 10 votes for each
$1,000 of principal. Provisions of prof, stock wore In "Supplement” of
April 1897, page 3. V. 6 6 , p. 335, 573.
DIVIDENDS (oash) %1 ’01. ’02. '03. ’04. '05. ’06. 1907. '08 to 1917;
On first preferred_______f 1 X 3 3 1 4 4 4
4
Apr., 2
0
On scoond preferred____ J- - - - — — 2
4
Apr., 2
0
BONDS.— First Consol, mtge. o f 1895 for $175,000,000 (Farmers
Loan St Trust Go., trustee)—see abstract, of deed, V. 62, p. 89. secures the
$35,000,000 Prior Lion (V. 103, p. 1032) and $140,000,000 General Lien
bonds. Both serlos have voting power; see “ Stock” abovo.
Of the $140,000,000 Consol M . Gen. Lien is. $92,668,000 were reserved for
ultimate acquisition of bonds and guaranteed stooks left undisturbed on
various parts of the system (see list, V. 62, p. 89), and $17,000,000 were
reserved for new construction, betterments, addition^. &o.. after 1897—
not over $1,000,000 to be used In any one year. On Dec. .31 1918 $55,104.
000 Gen. Lien bonds had been issued, o f which $35,885,000 wore In hands of
the public and $19,219,000 owned by Erie R R . (on Dec. 31 1918 $18,217,000
of these had been pledged to secure tho $15,000,000 notes and $1,000,000
for other obligations.— (V. 104, p. 1044). V. 102, p. 2077; V. 97. p. 1898;
V. 100, p. 1168.
The collateral trust 4s of 1901 are secured by 51% of the entire N. Y
Susq. & Western stock ($26,000,000 total Issue), all of the Pennsylvania
Coal Co. stock, and the stock of the Erie Sc Wyoming Valley R R ., Scranton.
Pa., to Lackawaxen, 65 miles, and Delaware Valley & Kingston R R .
Sinking fund of 10c. per ton of coai mined from mines of Penn. Goal Go.
V. 71, p. 1219, 1311: V. 72. p. 44, and circular, p. 136. 532. 257: V. 79, p.
212: $10,851,000 Included in the $34.000,000‘ ‘ outstanding” wore In sinking
*UTho Gen. M . Convertible 4s of 1903 ($50,000,000 authorized) cover the
entire system subjoct to prior liens, and when issued wero convertible into
common stock, but tho conversion period has expired for all except series
" D ” bonds which till Oct. 1 1927 aro exchangeable at option of holder for
common stock at 50 ($200 par value o f stock for $100 of bonds). There
is no Series “ O” . The other series on Doc 31 1917 included:
Amounts Held by—
Public Co's Treas. As Collateral.
Series A no longer convertible______$10,000,000
----------------Serlos B
do
do
........... 11,015,000
$545,900
$439,100
Scries D convert till Oct. 1927......... 19,627,100
.........8,372.900
Tho $8,372,900 scries D Is aro pledged as part security for tho $15,000,000
notes of 1917. V. 76, p. 382, 5 41; V. 78, p. 768; V. 79. p. 2205: V. 84.
p. 270; V. 102, p. 6 6 . 345; V. 105, p. 608.
The shareholders on Dec. 1 1916 authorized a Refunding and Improve
ment mortgage, limited to $500,000,000 (maturing as to Series A at
Dec. 1 1936), to provide for refunding existing funded debt and for
necessary capital expenditures over a long period of years. V. 103, p. 412.
In Nov. 1917 authority was obtained to issue $15,000,000 6 % Series A
Ref. & Impt. Mtge. bonds and forthwith pledged $8,750,000 theroof as
collateral security for a short-term loan aggregating $5,000,000, with tho
right to uso tho remaining $6,250,000 as security for other and additional
loans, upon tho basis of not more than $175 in amount of bonds for each
$ 1 0 0 in amount o f loan.
In May 1918 was authorized to amond tho mortgage so as to make possible
tho extension of tho old (underlying) bonds. (Soo “ Finances.” )
In July 1918 obtalnod pormisslon from the Now York P. S. Commission
to Issue further $12,600,000 6 % sories “ B ” Ref. St Impt. Mtgo. bonds as
security for not over $12,500,000 notes lssuablo on account of Improvements
and additions made and to bo made. V. 107, p. 82. 181, 291; V. 106. p.
1577, 1900, 2559. In March 1919 $5,400,000 of “ 11” bonds wero pledged
as part collateral for tho $15,000,000 noto issue. V. 108, p. 1060.
In Feb. 1915sold $7,400,009 E rie * Jersey (closed) 1st M . and$6,000,000
Genesee River 1st M . bonds. Both Issues are subject to call as a whole or
In part to July 1 1920 at 110, and thereafter at 115. Cumulative annual
sinking fund for oach issue. Both roads have boon morgod in the Erie R R .
Go
V. 100. p. 474. 481. 397. 555. 641.981. 1437; V. 104. p. 863.
Tho $15,000,000 coll, notes datod Apr. 1 1919 aro secured (at par value) by
the f ‘
------— '
^ ------ ’*'*“ “ * ~ -------' -----$18.
limbus — « . . v —— . l,. ,,
, rtA
year gold bonds, Series B, $5,400,000.
The interost on this collateral in March 1919 was over I X times the Intorest on tho notos, and tho estimated value of tho collateral was over
125% o f tho par value o f tho notos. See Gonorai Finances’ * below, and
V N 0 ^ . PLa1k°e, Erlo & Western Docks Sc Impt. Oo 1st 5s (extended) are re
deemable at 105 thereafter. V. 96. p. 1422, 1772; V. 97, p. 54, 370.
As to extension of bonds (throe Issues), duo July 1 1918, see V. 106 d
2756; extension of Jefferson R R ., $2,800,000 5% bonds In 1919 at
Soo V. 108, p. 1165.
Car Trust Series, Gold (Denomination $1,000 each). see V. 8 8 , p. 882
Date. Interest.
Outstanding.
Mature in Installments.
••Q” x ...1 9 1 1 4 X F&A $1,150,000 To Aug 1921
$230,000 s.-a
“ l i ” x ------- 1 9 1 2 4 X F&A
756.000 To Aug 1922
1081000 s -a
“8“
x ..1912 4X J&1>
800,000 To Dec 1922
100,000 s.-a
“ T” x
1913 6 J&D15 594,000 To June 15 1923
66,000 s -a
“ D“ * z Z"1913 6 J&J
1.059.000 To July 1'23 $117M or $118M a-al
"V ” x
.1913 5 J&D15 400,000 To June 15 1923
100,000 yrlv
“ AA” ZxIZI-1913 6
M &s
504,000 To Sept 1 1923
56.000 s.-a!
; ‘BB” ______ 1914 4 X F * A
495.000 To Aug 1 1924
45,000 a.-a,
•‘ GO*’ ______ .1916 4 X J&D
2,997.000 To Dec 1925
213,000 s.-a
•*DD” ........... 1 9 1 6 4 X J&D
937,000 T o June 1926
62,500 s.-a
••EE‘: .............1917 4 X A&O 2,944,000 To Apr 1 1927
184,000 s..a
Interest paid: “ J” and “ L " In New York; Series “ K ” at Nat. Bank o f
Commerce, N. Y .; Series “ M ” at Girard Trust Go., Phila.; Series “ N ” at
First Nat. Bank, N .Y .; Series “ O” at Central Trust C o.. N .Y .; Series “ O ’
at Fidelity Tr. Go., Phila.; “ T ” Columbia Tr. C o.. N. Y .: “ U” and “ W ‘
In N. Y.: ’ ’A A .” “ B B ,“ “ GO,” " D D ” and “ EE” at Gom’l Tr. Go., trustee,
Phila. V. 102, p. 608, 2077, 2166; of 1917, V. 105, p. 1617; V. 106. p .2 7 5 6 .
GENERAL FINANCES.— Holders of the $15,000,000 5% notos, due
April 1 1919, wero given a preferential right of exchanging their maturing
notes at par for the aforesaid new Three-Year 6% notes at 98, at which
rico tho now notos net 6 J i% . The balance o f such notes, not purchased
y tho holders of tho maturing notes or by now buyers, was taken at that
price by War Finance Corporation. V. 108, p. 1060, 1164.
“ ADVANCES” AND “ STANDARD R E T U R N ," &c.— (See page 5.)
Tho "standard return" under the contract with the Federal R R . Adminis
tration (incl. tho Chicago & Erie R R .), it Is said, amount to $15,729,
068 per annum. In addition the company will have non-operating income
which, it is estimated, will amount to at least $4,225,000 in 1919, making
available annually a total of approximately $19,954,068. After deducting
all prior charges, it is said, there should remain a balance of $10,116,928 for
tho payment of interest charges of only $5,204,160 on all of tho 1st Consol.
Mtgo. General Lien bonds and Gen. Mtge. Convertible bonds outstanding,
including those pledged under the $15,0OO,OOO notes. V. 108, p. 1060.
EARNINGS.—-12 m os.,(1918........Gross, $87,855,461; net, $191,687
Jan. 1 to Doc. 31.
\1917........Gross, 70.982,219: net, 10,164,534
REPORT.— For calendar year 1917, V. 107. p. 396, 901.
Miles operated, 2,257.
1917.
1916.
Total operating revenues_______________________ $79,776,367 $74,311,262
Operating expenses, taxes, &c___________________ 70,182,951 55,682,662
E
Operating Income________________________________ $9,593,416 $18,628,600
Dividend Income________________________________ x$6,796.629 2,042,421
Other income................................................................ 1.890.607 1,711.809
Gross Income________________
Hlro of equipment______________
Rent for leasod roads____________
Other ronts, &c_________________
Intonost on funded debt_________
Other Interest. &c______________
Sinking, &c., funds_____________
Investment In physical property.
..$18,280,653 $22,382,830
J. $2,216,931 $2,411,743
. . 2,261,274
2,245,031
..
968,761
1,012,200
. . 10,535,042 10,361,414
-246,504
238,573
. . 1,205,177
964,124
...
306,856
513,833
Balance, surplus...................... ........... .....................
$540,110 $4,631,912
x Understood to Include $6,000,000 received from the coal companies in
1917, compared with S2,000,000 in 1916. V. 108, p. 2559.
OFFICERS.— Pres., F. D. Underwood; V.-P. and Gen. Solicitor. G. F.
Brownell; V.-P., G. N. Orcutt: V.-P. and Sec., David Bosnian; V.-P.
Dolos W. Cooke; V .-P., Albert J. Stone: Comp., G. P. Crawford, 50 Church
St., N. Y .; Federal M gr., A. J. Stone; Gen. Mgr. under U. S. G ovt., W . A .
Baldwin, N. Y . City.
DIRECTORS.— Gates W. McGarrah, A. M . Anderson, Ogden Mills,
F. D. Underwood, Francis Lynde Stetson, Geo. F. Baker, Myron T . Her
rick, B. A. Eckhart, L. F. Litee, E. J. Berwind. Mitchell D. Follansbee,
Robert W. Pomeroy, Grenville Kane, ______________ Geo. G. Mason
— (V. 107, p. 901, 1003, 2187; V. 108, p. 268, 878, 973, 1274.)
ESSEX TERMINAL R Y. CO.— Owns road from Grand Trunk Ry. to
Amhorstburg, Ont., 22 miles. Entire $400,000 capital stock acquired
Feb. 1918 by tho Canadian Steel Corp., Ltd., a subsidiary of tho U. S. Steel
Corp., which in 1918 was constructing works at Ojibway, Can. Of
$420,000 1st M . bonds, $206,000 were in hands of public Feb. 1918 and
$214,600 wero on Doc. 31 1918 held in tho treasury of the U. S. Steel Corp.,
subjoct to sale. In April 1919 was proposing to increase tho capital stock
to $1,500,000.— V. 108, p. 1274.
★ EVANSVILLE St INDIANAPOLIS R R .— Owns Evansville to Terre
Haute via Worthington, 131 miles. Was controlled by Chicago & Eastern
Illinois RR. by ownership of entire $2,000,000 capital stock, but In May
1916 passed under management of Wm. P. Kappes as separate receiver.
Foreclosure suits pending under both mortgages. V. 102, p. 608. 2077:
V 99, p. 119. In Jan. 1917 $07a.000 dotal issue) of receiver’s certificates
was sold with prior lien on road for general rehabilitation. V. 104, p. 863.
In Sept. 1918 the road was not yet paying its way. V. 105, p. 1419, 1801.
Tho U. S. Railroad Administration in May 1918 ordered W. J. Jackson,
Federal Manager of the Chicago & Eastern Illinois R R . to .take charge of
the road. V. 106. p. 2450. 2o63.
Committee for Bonds.— Fredk. H. Shipman (Chairman), Edwin Gibbs,
(Sec.): Farmers’ Loan St Trust Co., N. Y ., depositary. Large majority
deposited. V. 105, p. 1419. Federal M gr., William J. Jackson, Chicago.
— (V. 107, p. 181.)
A FERNWOOD & OULF RR.— Owns Fernwood to Kokomo. Miss.. 32 m .
Stockoutstanding June 30 1916, $100,000. Bonds, see table above. For c a l.
year 1918, gross, $176,100; net, after taxes, $31,381; charges, $36,244; bal.,
dof., $4,863. In 1917, gross. $179,003; net, after taxes, $45,440. Pres.,
F. B. Enochs; V .-P ., N. E. Ball; Sec., J. L. Bentz. Office, Fernwood,Miss.
★ FITCHBURQ RR.—System extends from Boston. Mass., to Troy and
Rotterdam, N. Y ., 251 miles: branohes to Worcester, Bellows Falls, &o.,
209 m.; 460 m. In all, of which 59 m. (Fitchburg to Greenfield) leased from
Vermont & Mass, and 5 m. other cos.; second traok 200 m. V. 84, p. 1366.
LEASE.— Leased for 99 years from July 1 1900 to Boston & Maine for 5%
on pref. and 1% on com. stook, organization expenses, Int. on bonds, taxes,
expenses of maintenance, &o. Boston & Maine holds $5,551,400 of the
I7.000.00C common stook. the remainder being In the treasury. V. 70,
p. 70. 125, 176. 583 1291: V. 71. p. 29. 543; V. 72. p. 532.
In Aug. 19161 the B. St M . was placed In receivers’ hands, but In 1918
Fitchburg Interest and dividends were being paid as usual. In Jan. 1919
stockholders voted to merge with the B. Sc M . See that company.
Flint & Pere Marquette— See Pere Marquette statem’ t
Florida Central & Peninsular— See Seaboard Air Line Ry
617
Florida East Coast— 1st M 512.000,000 g-B a.xxo'A r"
General income M 5% non-oum $25,000.000------xx
Equipment trust certs ser A, due S50.OOO yearly —
__
Equipment trust certs ser B (auth $1,000,000) due
$ 1 0 0 ,0 0 0 yrly------- ------------------ --------------------—
Florida West Shore—See Seaboard Air Line.
Fonda Johnstown & Qloversville— Common stook.
Pret stook 0% cum call at 105 $1,000,000 au th ..
26
1st Consolidated mortgage $200,000------------------- zo
26
First consol refunding mtge $500,000 gold-N.xc*
26
General refund mtge $800,000 (V 71, p 34)..N .xo*
75
First Cons Gen Ref M $7,000,000 g red 120-N.xo* Ar
4
Johnstown G A Kingsboro 1st M assum ext 1913.-z
14
Cayadutta Elec 1st M guar p & 1 by F J & G gold.Nz
Fort Dodge Des M & So— Common stock------Preferred stock 7% cum ulative------------------124
1st M g red 105 $50,000 due serially Dec 1 to 1 9 3 7 Fort Smith & Western— 1st M $7,500,000 g o ld ...x o *
Gold
98
454
Eq tr Ser O $56,000 s-a red aft M ay’20 102)4Qalnesvilie Midland— First M $1,000,000 g red (
Notes $400,000 auth extended to Oct 1 1919---------Gal vestonHarrisbA San Antonio— lstA2dM g I gr ext o*
do
do
2d M “ stamped"
1909
1 90 9
1 91 4
1917
Last Dividend Places Where Interest and
Dividends are Payable
and Maturity
2 0 0 .0 0 0
& D
4 )4 g J
A p r il 1
5
M A N
5
Bankers Tr Co, 14 Wall St
New York
N Y . U S M tg Sc Tr Co
1 ,0 0 0
9 0 0 ,0 0 0
6
100
100
2 ,5 0 0 .0 0 0
5 0 0 .0 0 0
Amount
Outstanding
$ 1 ,0 0 0 A o $ 1 2 ,0 0 0 ,0 0 0
2 5 ,0 0 0 .0 0 0
1 .0 0 0
1 88 1
1897
1900
1902
1 89 3
1892
100 A o
1913
1904
189 1
1915
100
1 88 1
1915
1905
1913
256 ’ 7 1 -’80
6 7 1 1 88 1
1 88 1
1910
74
When
Payable
Par
Value
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
100
See
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
100
1 ,0 0 0
1 .0 0 0
1 ,0 0 0
100 Ac
$ 1 ,0 0 0
1 .0 0 0
1 ,0 0 0
Rate
%
A
& O Oct 1 T9 to ’27 N Y D
________
6
1
Miles Date
Road Bonds
K
RAILROAD COMPANIES
[For abbreviations, &c., see notes on first page]
[Vol. 108.
A t T lv a t e
C o n tr o l.
RAILWAY STOCKS AND BONDS
0
★ Control.
Government
5 ‘2
A
& O
2 0 0 ,0 0 0
6
<Sc J
5 0 0 .0 0 0
4 )4 g J
J & J t
8 0 0 .0 0 0
4 g
5 .1 5 0 .0 0 0
4M e M & N
J
& J
5 0 ,0 0 0
5
A
&
O
3 5 0 .0 0 0
6
Q— F
2 .5 0 0 .0 0 0
Q— F
1 .3 0 0 .0 0 0 7 In 1 9 1 8
J A D
5 g
5 .6 0 0 .0 0 0
A
A
O
6 .2 4 0 .0 0 0
4 g
A
J
1 , 0 0 0 .0 0 0
4 )4 g J
J
A
J
S ee text
0
M A S
2 ,2 9 1 .4 1 6
5 )4
J
A
D Deo
8 .1 7 6 . 0 0 0
6 g
.
8 4 0 ,0 0 0
4)4 M A N
See text
5 g
3 2 5 .0 0 0
5 , 7 2 8 ,0 0 0
1 3 ,4 1 8 .0 0 0
2 ,5 3 9 ,0 0 0
9 ,0 2 2 ,0 0 0
6 g
5 n
5
6
6
M A N
Q— J
Various
M A N
J A J
J A D
8
Mtge & Tr Co.
15 T3 2% Cheoks mailed
do
do
15’ 1 9 1 )4%
Imp & Trad Nat Bk, N Y
1 1921
New York Trust Co, N Y
do
do
New York Trust Co, N Y
FulCo N B k.Glov’ lle.NY
Farmers’ L A Tr Co, N Y
1 1922
1 1919
1 1954
1 1941
1 1921
1 1925
Nov 1 1935
Oct 1 1919
1935
May 1 1931
July 1 1931
June 1 1940
N ew Y ork
Oct 1907 coup last paid
Central Trust Co, N Y
Merc Nat Bk, Boston
Farmers’ L & Tr Co, N Y
Offloe, 32 Nassau St, NIY
Fidelity Trust Co, Phlia
Chatham Bank A Tr Co
Owned by Sou Pao Co
So Pao Co 165 B’ way.N Y
do
do
— ------ U .U K I OMIIII OS "COICKM 'V'V■---„ ..........
rie, Okla, 216 miles, of which Coal Creek. Okla., to Guthrie. 196 m. isowned and Ft. Smith to Coal Creek, 20 m.. Is Kansas City Southern track
age. In Oct. 1915 contracted for uso of M . K. A T . tracks. Fallis to Okla
homa City, 30 miles. V. 101. p. 1553. Coal properties are developed
at MoCurtaln, Okla., 40 m. west of Fort Smith, producing an average ot
30,000 tons per month. Owns 61% of the capital stook of the St. Louis El
Reno A West. Ry., Guthrie to El Reno, Okla., 42 m., oper Independently.
On Oct. 9 1915 Gen. Mgr. Arthur L. Mills was made receiver. V. 101,
p. 1272. Bonds deposited till July 1 1917, with a committee consisting of
W. L. Brown. A. W. Mellon, Colgate Hoyt, W. H. Connlff. W. G. Mather,
J. J. Sullivan, Geo. S. Russell, James J. Hoyt, S. II. Tollos, O. O. Bolton
and A. O. Dustin (Superior Savings A Trust Co. of Cleveland, the mtge.
trustee, depositary), with power to sell or exchange the same. Ac. V. 91,
j . 1446; V. 92. p. 527. I 11 Oct. 1916 was orderod sold under foreclosure,
jut up to Juno 1, 1918 no dato had boon sot for sale. V. 103, p. 1592.
Released from Fedoral control. V. 106, p. 2757; V. 107, p. 1003.
Stock, $5,000,000. all outstanding; par $ 100. For the 4s of 1904 ($7,500,
000 auth.), Superior Sav. & Trust C o., trustee. Car trusts outstanding:
Dec. 31 1917, $77,115. Bills payable outstanding Dec. 31 1917, $370,000.
EARNINGS.— 12 mos.,(1 918 .-Gross, $1,296,857; net (before $176,382
Jan. 1 to Dec. 31.
\19I7 —Gross, 1,179,849:
taxes),
238,149’
For year ending Dec. 31 1916, gross, $927,145; not, $192,953; other in
come, $12,680; int.. taxes, A c., $390,870: bal., dof., $185,237. For 1917,
gross, $1,179,849; net, after taxes, $189,910. Pres. A. O. Dustin, Clovqand, O.— (V. 103, p. 1592; V. 105, p. 2183; V. 106, p. 27o7; V. 107, p. 1003.)
★ FORT STREET UNION DEPOT.— Owns passenger station with ap
proaches, 1.4 m., connecting with Detroit Union RR. Depot A Station C o.
property, leased for 990 years from Dec. 10 1889 to vVabash, Pere Mar.
quette and Canadian Pacific for rental equal to 5% of total cost of property
and current expenses. Incorp. In Mich. Aug. 24 1889. Stock. $1,000,000,
of which Pere Marq. owns $515,800; par, $100. On July 1915 Issued
$329,000 6 % notes exchangeable for like amount of 5% bonds duo July 1
1918. As bonds are exchanged they are deposited as collateral to the notes.
Pres., Frank H. Alfred. Detroit.— (V. 100. p. 1832.)
1917
8,140,167 3,638.972 See text (5%)1,250,000 1,199,611 1,189,361 ★ FORT WAYNE & JACKSON RR.— Owns Jackson. Mich., to Fort Wayne
1916 I "7:094,927 3,169.671 1,261,573 (7)4)1,875,000 1,180.046 1,376,198 lad., 98 miles. On Aug. 24 1882 leased perpetually to Lake Shore A MiohlThe 7 V4% paid on incomes for 1916 was duo to changed date of payments. gan Southern (now Now York Central at a rental of $126,027, ecjual to
Pres W. II. Beardsloy; Treas., L. O. Haines; Federal Mgr. under U. S. 5)4% on the pref. stock (see V. 56, p. 812), and after 1887 any net earnings
Govt., J. P. Beckwith, St. Augustine, Fla.— (V. 107. p. 2008, 1384.)
over 8 % on pref. stock to be paid on com., but not exceeding 2 % a year.
AFONDA JOHNSTOWN & QLOVERSVILLE RR.— Owns Fonda to Common stock, $436,132. V. 106, p. 601.
iNorthvIlle (steam), 25.47 ra.; Gloversvllle toSchenectady (eleotrlo), 32.47 ★ FORT WORTH & DENVER CITY RY.— Ft. W orth. Tex., to Texllne.
m - Gloversvllle to Fonda (electric). 8.70 m.: Belt line In Amsterdam 4 5 4 miles. Owns securities of Ft. W. & pen. Term. R y.
(electric). 3.78 m.; Belt line in Gloversvllle (electric), 3.84 m.; Ilagaman
STOCK, Ao.— Colorado & South. Ry. Dec. 1917 owned all but $13,984
line (electric), 2.29 m.; second track (electric), 22.75 m. Operates under
lease branch line Broadalbln Jet. to Broadalbln. 6.15 m. (steam); also local of the $9,375,000 capital stock, the latter Including $6,835,008 common
line Gloversvllle to Johnstown (electric), 4.08 m.; yardlngs and sidings. and $2,539,992 stamped stock. V. 63, p. 1063, 75.
13.82 m.; trackage, 3.98 m.; total, 88./7 miles of road (127.33 miles Of
“ ADVANCES” AND “ STANDARD R E T U R N ,” &c.— See page 5.
track), o f which 104.54 on private right of way and 2 2 . 7 9 miles on streets
Standard return under Govt, contract, $1,891,386. V. 10/. p. 2376.
and highways. The Little Falls A Johnstown RR ., owned by allied inter
Paymonts under stamped stock agroomont of Oct. 12 1895; 2% in 1898.
ests, is building an electric road from Little Falls to Johnstown, 28 miles, 1899,
2% ; 1902. 2% ; 1903 & 1904, 4 % ; 1906 to 1912, 4% each; 1913 to 1916,
with branch from St. Johnsville to Canajoharle, 8 miles. V•95. p. 111.1123
Owns entire $105,000 common stock of Coal Co. o f Fulton Co., also 6 % each; 1917, 8 %.
BONDS.— Abstract of mortgage, V. 45, p. 440. Ccrtfs. of Indebtedness
66 2-3% of stock and bonds Adirondack Lakes Traction C o., 4 miles.
owned by Colo. Sou. Dec. 31 1916. $299,917. Equipment trust. V. 82.
D IVIDEN DS.— On com., 2 % . July 20 1910; July 10 1911. 2% ; Aug
p 1101; V. 84, p. 508. Ft. Worth & Donvor Terminal Ry., $2,500,000
1912 and 1913. 2% ; none since. Pref. dividond paid regularly 6 % per an. 20-year 6 % bonds (Bankers Trust C o., N. Y ., trusteo). subject to call at
BONDS.— Consol. 414s, $7,000,000 auth.: $1,850,000 is reserved to re 105, of which $728,000 have boon issued, $300,000 sold and $428,000 held
tire prior liens. V. 76. p. 265. Guarantees 530,000 Gloversvllle & Broad by Ft. W. A D. O. Ry. V. 8 6 , p. 52. 1100, 1589; V. 87. p. 949.
albln 5s and $50,000 Jonnstown Glov. A K. 5s and $50,000 8% stock.
EARNINGS.— 12 mos..(1918-Gross, $7,950,342; net (before $1,913,710
Jan. 1 to Dec. 31.
\1917-Gross, 0,546,862;
taxes),
2,514,229
LATEST EARN INGS.— (1918—Gross, $1,123,137; net (bcf. S426.2I8
RESULTS.— For years ondlng Doc. 31 1917 (V. 106, p. 2345):
12 mos., Jan. 1 to Dec. 31.(1917—Gross, 1,064,318; taxes),
462,100
Calendar
Gross
Net
(after
Other
Interest.
Dividends
Balance,
REPORT.— For new fiscal year end. Doc. 31 1917, In V. 106, p. 607:
Years— Earnings.
Taxes).
Income. Rents,Ac. \,8 % ). Surpliis.
1917
.$6,546,863
$2,050,860
$438,881
$705,578
$639,152
$1,145,011
H r r s T 0 6 ® 8 % “ft.687
° & b % ‘ s | “||5
......... 6,052,375 2,257,502 - - - - - - - - - - - - - - - - - - - -------
1916
999,967
437,985
32,231
395.999 (6 %) 30,000
44,216 1916
Pres., O. E. Perkins; Gen. M gr., Robert Rico, Donvor, Col.— (V. 107, p.
— (V. 106, p. 607, 2122; V. 107, p. 401, 501, 603.)
1670, 1837, 2376; V. 108, p. 268.)
* FORT DODdE DES MOINES & SOUTHERN R R .— Owns from Des A GAINESVILLE MIDLAND RY.— Owns Gainesville, G a „ to Athens, 42
Moines, la ., to Fort Dodge. Boone, Ames and Rockwell City, 128M m ., miles standard gauge, and Belmont to Monroe, 32 miles, gauge now
also extension to Lehigh and Webster City, 25 miles; total. 153/i miles- standard.
V. 79. p. 151.269, 500. 627. Stock, all out, $550,000
Originally a steam line but now electrically equipped. V. 97. p. 1357,
Of the 1st 5s of 1905 ($1.000.000 auth.), $661,000 has been sold and $14.
1426 1583; V. 106, p. 393. Govt, advances April 1 1918 to Jan. 1 1919, 000
Is reserved to retire old 6 s; $26,000 treasury bonds and $192,000 Issued
$302',000. V. 107, p. 2156.
______ _____________
to cover broadening gauge or 32 miles are pledged to secure an Issue of
$400 000 3 -year 6 % coupon notes of 1913. These notes also h u e a s addi
DIVIDEN DS—
" 1916.
' 1917.
1918.
1919.
tional security the following, pledged by individual owners: $630,000 1st M .
On pr^™r° ed—
Feb. 1916 to Feb. 1919. 7% ( l ) f % Q -F -) bonds (1905 issue), $514,000 out of $550,000 cap. stock. Of these notes,
Owing to delay in getting the dividends approved by the Ranroad Ad $325,000 are Series A, having a prior lien on the collateral and $75,000 Series
B. $250,000 of Series A have been Issued and installments paid thereon to
ministration. the usual l 3
A % dividends duo Aug. and Nov. 1 1918 01
the extent of $213,285; Series B Is all out. Tho Series A and B coupon
the preferred, and dividends of 1 K % on the common were paid severa
weeks late. The common dividends, tl was hoped, might be Custom1 t< notes of 1913 wero oxtonded to Oct. 1 1919. V. 97. p. 950; V. 81, d . 1848.
The Chatham Bk. A Tr. Co. Is mtge. trustee. V . 81. p. 1375, 1550.
7% per annum as soon as the compensation for I ederal use should be fixed
Year ending Dec. 31 1917, gross, $192,682; net, $33,751; lnt., taxes. & c.,
V. 107, p- 1579. 2187.
$77,805;
bal., def., $44,054. agst. $19,419 in 1916. Fres., Geo. J. Baldwin;
BONDS.— Open mtgo., V. 101. p. 1272. 1972. Due serially on Dec. 1. Sec., Gordon
O. Carson. 120 Broadway. N . Y . Fed. M gr.. W . A. Win$60,000 yearly. 1916 to 1937. both Inclusive, and remainder in 1938. but burn, Savannah.— (V. 108, p. 1060.)
redeemable all or part on any Interest date at 105 and lnt. Additional
bonds Issuablo only for 80% of cost of additions, A c.. when annual net earn ★ GALVESTON HARRISBURG & SAN ANTONIO KY.— (See Slap Southern
ings are
times interest, Including bonds proposed. V. 106, p. 395,
pacific )— Owns Galveston via Houston, le x ., to east bank of Rio Grande
River, 825 miles; Beeville to Rosenburg, 147 miles; San Antonio to Port
EARNINGS.— Year ending June 30 1916, gross, $1,337,569; net, Lavaca, 138 miles; Magers to West Shore. Galveston Bay. 48 miles; Warton
$634,789; other incomo, $72,070. For calendar year 1917. gross Income was to Palacios,68 m.; branches, 119 m., owns Jointly 2 m.; trackage, etc.. 17 m.
$ 1 ,5 2 8 ,5 0 0 ; net income. $698,263; annual interest on first mtge. bonds. total, 1,361 m. In 1918 built from Rosenbewt. Tex., to Damon Mound,
$284,892; pref. divs., $91,000; com. divs., $168,750: bal.. sur.. $144,621.
22 m. Southern Pacific Co. owns $27,066,800 of the $27,084,400 stock
* Pres.. Homer Loring (201 Devonshire St., Boston); Treas., F. M . (par $100). V. 79, p. 2842; V. 81, p. 211, 668. 1242; V 83. p. 1528.
,
Johnston; V.-P. & Gen. M gr.. O. H. Crooks. Boone, Iowa.: Federal M gr.,
Annual compensation under Federal contract, $3
645. v . 108,p.974.
S G. Strickland, Chicago; Fed. Treas., F. W. Johnston.— (V. 107,p.
“
ADVANCES”
AND
"STANDARD
RETURN.”
Ac.—
See
page
5.
1579, 2187.)
BONDS, &c.— Debentures, see V. 60, p. 967: V . 84, p. 158, 270. As tc
$1,350,000 bonds of 1912, see V. 93. p. f30, 1461. 1725, 1786; V. 94. 1p. 68
$450 000 Issue of 1912, see V. 90, p. 359. V. 97, p. 802, 950, V. 98, p. 8.39,
1156' 1392. Stockholders March 27 1918 authorized $4,700,000 bonds to
refund $2,609,000 floating debt and provide for improvements, rescinding
$3,700,000 authorization o f 1917. V. 1 0 6 , p. 1344. Treas., George O.
Foster.— (V. 106, p. 295, 1344; V. 107, p. 1100; 1747, 1919; V. 108, p. 170.)
★ FLORIDA EAST COAST R Y .— Owns from Jacksonville, Fla., viaSt.
Augustine to Key West, 522 m.; branches, 240 m.; trackage, 3 m.; total
765 m. Forms connection to Southern and Eastern Florida and thence to
Cuba for the Atlantic Cast Line, Southern Ry. and Seaboard Air Line
Car ferry service from Key West to Havana, 96 miles, Is now operated by
Florida East Coast Car Ferry C o., which in 1917 bought the boats, &c., from
the railroad co. V. 97, p. 1115, 1281, 1583; V. 99, p. 406; V. 100, p. 140,
V . 102. p. 1346.
STOCK.— $12,500,000, all sold at par, V. 96. p. 1840; V. 105, p. 497.
V . 107, p. 1344, 2156; V. 106, p. 2194.
“ ADVANCES” AND "ST A N D A R D R E TU R N ,” A c — See page 5.
Federal contract not yet entered into. Government advances to April 1
1919, $400,000 to Federal M gr., $300,000 to company as 6 % loans and
$350,000 on rental account.
BONDS Ac.— The 1st M . 4)4s ($12,000,000 auth.) are a first lien on:617
miles. V. 8 8 , p. 1620; V. 94, p. 1185; V. 98. p. 1993.
Int on Incomes. 3 )4 % . paid 1910: 1911, 4% ; 1912. 1913 and 1914
each, 2 )4 % ; 1915.4% ; 1916, 5% ;'N ov. 1 9 1 7 , 5 %: April 1 1918, 2 % paid
for 6 mos. on account of change o f fiscal yearjof corp. Hereafter payable
annually on April 1 up to 5% if earned.
LATEST EARNINGS.— (1918-Gross, $8,841,222; net (be- $2,098,519
12 mos., Jan. 1 to Dec. 31.\1917-Gross, 8,140,167; forotax.) 3,638,972
* REPORT.— For cal. year 1917 In V. 107, p. 396:
Gross
Net
Water
Interest on Interest, Bal.,
Year— Earnings. Earnings.
Line.
Income Bds. Taxes, A c. Sur.
,23(5,
A pe ., 1919.J *g£ST“
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
[For abbreviations, &c,, see notes on first page]
Miles Date
Road Bonds
APrlvate
Control.
53
Par
Amount
Value Outstanding
Rate
When
Last Dividend Places Where Interest and
Payable and Maturity
Dividends are Payable
%
Galveston Hous & Hcndof 1882— 1st M, g.Col yc*Ar
50 1913
$ 1 ,0 0 0 $ 2 ,1 2 2 ,0 0 0
A A O Apr 1 1933
5 g
Columbia Trust Co, N Y
Galveston Terminal— 1st M 15,000,000gu (text).H a.x
1 ,0 0 0
1.106.000
M A vS Mch 1 1938
6
Bankers Trust Co, N Y
Galveston Wharf Co— 1st (r e) M gold s f _______ zc*
_ 1908
1 ,0 0 0
1882
489,000
6 g
J A J July 1 1932
Nat City Bk, N Y, or Gal
First series (wharf A railroad) gold 5s sink fund.zo*
-- - 1890
1 ,0 0 0
1,363,000
A
A O Apr 1 1940
5g
do
do
Second series (wharf A railroad) gold 5s s f __ zc*
--- 1901
1 ,0 0 0
907,000
F A A Aug 1 1926
5 g
do
do
Geneseo & Wyoming RR— 1st M gold $500,000__ Col
16 1899
1 ,0 0 0
488,000
5 g A A O Apr 1 1929
Columbia Trust Co. N Y
Geneva Corning & S outhern— See N Y Central RR
Georgia & Alabama— Georgia Carolina & Northern— See Se aboard Air Line Ry.
Georgia Coast & Piedmont— First M g $1,000,000-Gx
99 1900
1 ,0 0 0
M A s Mch 1 1946
32,000
5 g
Interest in default
Income debentures_________________________ __x
1912
69,800
5
July 1 1936
Tnt only pay when earn
_ 1912 100 Ac 1.665.000
Gen. mtge $3,500,000 auth gold red 105..........Colx
5 5 A A o Apr 1 1962
Oct 1914 coup In default
Georgia & Fla— Common stock $15,000 per mile___
100
5,250,000
Pref stock non-cum partio. $10,000 per mile______
100
3,500,000
Miller. A South 1st M ______ _______________Colx
53 1905
1 ,0 0 0
2 1 2 ,0 0 0
5 g A A o Apr 1 1955
Hanover Nat Bk, N Y
Receivers’ certificates $500,000___________________
1917
500,000
Georgia & Florida mtge $12,000,000 g o ld .. BIJaxo*
284 1907
500 Ac
M A N Nov 1 1956
5,000.000
5 g
See text
Gen M g (cum Inc for 10 yrs) red par_____FBa.xc*
1912
500 Ac
2 , 0 0 0 ,0 0 0 See text F
A A Feb 1 1932
Georgia A Florida Term M $200,000 guaranteed__ x
1910
1 ,0 0 0
2 0 0 .0 0 0
J A J
6
Georgia Florida & Alabama— First mtge gold ..B a.o* Text 1904
1 ,0 0 0
2,113,000
5 g J A J July 1 1954
Bankers’ Trust Co, N Y
Georgia Midland Ry— First M gold $1.650,000lnt gu.x
98 1896
1 ,0 0 0
1.650.000
J P Morgan & Co, N Y
3 g A A O Apr 11946
Georgia Pacific— See Southern Ry
Georgia Railroad & Banking Co—Stock____________
307
100
4,200.000 See text
Q— J
Augusta, Ga
Bonds refunding not mortgage currenoy_______ zo*
__ ’87-’07
1 ,0 0 0
1 ,2 0 0 ,0 0 0
5
J
A J
1 1922
Am Ex Nat Bk, or Aug
Bonds not mortgage____________________________ z
1882
1 ,0 0 0
300.000
6
J
A J Jan 1 1922
do
do
Bonds not mortgage currenoy (V 87, p 226. 285) .zc
_ 1907
1 ,0 0 0
1 .0 0 0 .0 0 0
J
A J Jan 1 1947
4
Am Exoh Nat Bk. N Y
_
Georgia Southern & Florida—Common stook_______
100
2 .0 0 0 .0 0 0
First pref stock 5% & partlc non-cum red________
__
100
684,000 5 in 1918 M A N Nov 8 ’ 18 2 H M T & DCo. Balt: & N Y
Second pref 6 % A partic non-cum $1,084,000 ____
__
100
1.084,000 5 in 1918 M A N Nov 8 ’ 18 2 K
do
do
First mortgage gold $4,000,000_________ MeBa.xo*
285 1895
1 ,0 0 0
4,000,000
5 g J A J July 1 1945
do
do
First consol mortgage $10,000,000 gold__ N.xo*Ar
391 1902
1 ,0 0 0
2 ,0 0 0 .0 0 0
4g J A J
do
do
1 1952
Equipment trust Ser C due $25,000 seml-ann___Rqx
__ 1910
1 ,0 0 0
50.000
4M g M A S
Equitable Trust Co, N Y
’19-M
ar’20
do
do
Ser D due$21 M s-a_________ Bax
__ 1912
1 ,0 0 0
147.000
F A A
’ 19-Aug ’ 22 Bankers Trust C o. N V
4X
*
do
do
Ser E due S22M or $23M s-a g ..c
__ 1915
1 .0 0 0
316,000
'19-Nov '25 Richm’d.Va.OId Bom Tr
4)S g M A N15
Georgia Southw & G u lf— Albany A Nor 1st M. g _.c
36 1896
1 ,0 0 0
400.000
5g J & J
N Y A Baltimore
1 1946
G 8 W & Gulf m tg e ___________________________ Ce
36 1909
100
155,500
5g J A J
Co’s office. Albany, Ga
1 1959
Gettysb& Harris!)—Con(nowlst) M$565.000g(text).x
42 1891
1 ,0 0 0
565,000
A
5
A O Oct 1 1926
Reading Terminal, Phlla
G ila Valley G lobe & N orthern—See Arizona Easte rn RR
Goshen & llcckertowii— 1st & 2d M ($60,000 are 2ds)
12 1888
500 Ac
246,500
0
Various 1928
N Bk Or Co, Goshen, N Y
Gouverueur & Gswegatchie— See N Y O & II R RR
BONDS.— See V. 93. p. 1636: V. 94, p. 130: V. 96, p. 1772: V. 107,
p. 1482. The Wostern Divs. 2ds (then $6,354,000) wero under an
agreement made in 1893 treated as incomes, but under a later agree
ment made In Dec. 1914 with the holders of the bonds, part were
retired and the remaining $2,539,000 “ stamped” with a guaranty by
Southern Pacific Co. of payment of principal and Interest as reduced from
0% to 5% from Jan. 1 1915. V. 100, p. 397. Equip, bonds, $1,558,000 6 s.
owned by Southern Pacific. V. 76, p. 1300; V. 77, p. 2160. Tho Sou. Pac.
Co. owns $444,000 out of a total or $2,539,000 Mex. A Pac. oxt. 2d M . 5 *
and all of tho $4,728,000 G. II. A S. A. East Div. 1st 6 s (oxt.), duo Aug. 1
1935, $1,000,000 2nd M . 6 s, and $9,022,000 Gal. Victoria Dlv. 6 s.
LATEST EARN INGS.— 11918..Gross, $21.273,847: not (bcf.$ 6 ,287 ,7 1 8
12 mos., Jan. 1 to Dec. 31 .U 917--Gross, 19,737,997: taxes), 8,223 018
Yr.—
Gross.
Net.
Oth. Inc. Interest.
Miscel.
Surplus.
Compensation for Govt, operation under additional Federal control
$88,000 p. a.; Augusta So. R y., $28,000 additional. V. 108, p. 78.
In March 1917 $500,000 receivers' certificates were authorizes), and with
the proceeds of $250,000 purchased $296,000 of the $400,000 common
stock and $296,000 of the $350,000 preferred stock of the Augusta Southern
RR. V. 104, p. 1045, 1145. The now issue is a first lien on all the prop
erty of the Georgia A Florida Ry. (subject only to $212,000 of Milfen A
Southwestern 1st 5s), and on the securities of the Augusta Southern pur
chased from Southern Railway Co. V. 104, p. 1145.
Protective Committee for 1st M. 6 s of 1907; Franklin Q. Brown. 33 Pine
St., N. Y ., and others. Depositaries, Baltimore Tr. Co., Central Tr. Co.
of N. Y. and Richmond (Va.) Tr. A S Bk. V. 102. p. 712.
In March 1918 John F. Lewis, Pres, of the Citizens Bank of Valdosta,
Ga., and E. B. Lewis, of Montezuma, having purchased the large interest
In the property held by the Baltimore Trust Co., succeeded S. C. Row
land and D. II. Gordon on bondholders’ committee. V. 106, p. 1344, 1461.
BONDS.— Of bonds of 1907, $5,600,000 are in hands of public and
$630,000 in treasury. V. 85. p. 221, 530; V. 95, p. 1472. Holders of 1st
★ GALVESTON HOUSTON & HENDERSON RR. OF 1882.— Owns from M . bonds were asked to fund their coupons for 3 years from Nov. 1913;
Ualveston. Tex., to Houston, Tex., 50 miles. See V. 61, p. 1013.)
about 82% agreed. V. 98, p. 155. V. 97. p. 1024, 1504, V. 104, p. 2452.
. ORGANIZATION.— The M .K . A T . and International & Great Northern
Gen. mtge. bonds, see V. 94. p. 630. 826. 911. 1118: V. 104. p. 2452.
have had trackage rights since Bed. 1895 under a contruct providing for pay
REPO RT.— For year ending Dec. 31 1918> gross, $1,021,743; net def.,
ment to Central Trust C o., as mtge. trustee, of $100,000 yearly to meet inter
$27,618; other income, $142,065: int. on bonds, $620,115: taxes, rentals,
est on G. H. & II. bonds and an additional rental of $24,000 per ann for A c., $211,874; bal., def., $717,542. In 1917, gross, $904,883; bal., surp.,
dividends or other purposes—see V. 61, p. 1064; V. 63, p. 697. Dlvs Mav $35,695. F’ ed. M gr., W. A. Winburn, Savannah, Ga.— (V. 108, p. 78.)
1904 to 1906, 4% yearly; since to July 1 1913. none. M . K. A T .’ owns ★ GEORGIA MIDLAND RY.— Owns road from Columbus to McDonough.
4,999 shares of stock. Of the 1st gold 5s ($5,000,000 authorized Issue)
a., 98 miles. Leased from July 1 1896 for 99 years to the Southern Rail
$1,000,000 is reserved torn otover90% ofcostofn ew equipment. Redeem G
way Co. for $49,500 annual rental (being Interest on the first mtge. bonds,
able at 105 on any interest day. V. 98, p. 839: V. 102, p. 1987.
&o.)
and $2,500 for Columbus terminal property. Stock Is $1,000,000,
Stock, $1,000,000; par, $100. For cal. year 1917. grass, $434 740 agst
owned by Southern Railway Co.— (V. 63. p. 361: V. 82, p. 751.)
$350,715, and net. after taxes, $71,134. against $23,818. General M^r.'
★ GEORGIA RR. & BANKING CO.— Georgia R. R. Augusta, to Atlanta.
under U. S. Govt.. J. L. Lancaster, Dallas.— (V. 102, p. 1987.)
171 m.; branches to Washington and Athens, 58 m.; Macon & Augusta
★ GALVESTON TERMINAL R Y.— Owns extensive terminals at Galveston
RR. (proprietary road). Camak, Ga.. to Macon, Ga., 74 m.; trackage, 4 m.;
Tex., used by Trinity A Brazos Valley Ry.. Colorado Southern and Chlo.’ total, 307 m. Owns 50% stock of YVestern Ry. of Ala.
R. I. A Pacific, which own practically all the stock. V. 87, p 950
Owns
Lease.— In 1881 road leased for 99 years to W. M. Wadley et al for the
a large freight depot and warehouse and about 14 blocks along Galveston Cent, of Ga. and the Loulsv. & Nashv., at $600,000 per year, but In April
water-front. In Jiine 1918 operated 3.49 miles o f main lino and 20.33 miles 1899 the Loulsv. A Nashv. was held to have acquired all rights under the
?f
g& ck’ S2;5',00.?- Of the first 6s ($5,000,000 authorized lease; Atlantic Coast Co. 1899 acquired half interest. V. 6 8 , p. 722. Own*
Issue) $1,051,000 guar, jointly by the Ch. R. I. A, P. and Col. A Sou
V
majority ($594,900) stock “ Ga RR. Bank."
86. p. 1100, 1589; V. 87, p. 1478: V. 103, p. 2428, 1980. Pres., J. W.
Compensation fixed under Federal control for use of Georgia R R . is
Robins, Houston, Tex.; V .-P.. Chas. Fowler; Sec. A Treas.. E. R. Cliees- $858,662; Fed. Mgr. of RR. is E. T. Lamb, Atlanta, Ga.
borough, both of Galveston, le x .— (V. 100, p. 2085.)
*
DIVIDENDS.—
V83-’87. ’ 8 8 . ’89 to Jan. 11
Since to Jan 15 1919
12% yearly.
★ GALVESTON WHARF CO.— Owns wharf properties extending from 10th Regular since 1881 % /1 0 yrly. 10H 11 yearly.
to 41st Sts., Galveston, rex., and 12.8 miles main line switching tracks In Extra (from bank earnings, V. 103, p. 2340)______________ Jan. 1917, 1% ,
olty, with yard tracks and sidings. Incorporated In Texas Feb. 24 1854
Railroad earnings for year ending Doc. 31 1917, gross, $3,433,069; rail
8tock outstanding at last advices, $2,626,600: Par $100
Dividends In way oper. Income, $1,027,809; non-oper. Income (rentals, A c.). $200,035:
1904, 3M % : 1905. 4 H % : 1906 to 1908 5% yearly 1909 4 * % ; 1910 to total. $1,227,844; deductions, $926,063; bal., $301,781. For 1917, gross,
1913, 5 X%\ 1914. 5 H % ; 1915, 4J*% (unofficial); since. (7). °
$4,366,637, and net, after taxes, $1,352,283.— (V. 103, p. 2340.)
“ ADVANCES” AND “ STANDARD R E T U R N ," A c.— See page 5.
★ GEORGIA SOUTHERN & FLORIDA R Y .— (See Map of Southern Ry .)—
Compensation under Govt, contract. $526,069. V. 108. p. 170.
owns from Macon. Ga., to Palatka, Fla., 285 miles: on Nov. 1 1902 pur
f o r £Sa£non(? IIg Dec; .* 1.916’ Fross, $1,399,830; net, $573,456: other in chased Atl. V. A W. Ry.. Valdosta, Ga., to Jacksonville, Fla., 106 miles;
come, $9,900; lnt., rentals, A c., $128 254- div (4)7% ) $11 630- K»i snr
trackage, 11 m.; total, 402 m. V. 60, p. 928: V. 79, p. 551. Also owns
$343,471
For 1917. grass, SI
one-eighth of stock of Jac •'•onville Term. Co. and 1-3 of stock Macon Term.
John Sealy; Sec., Treas. A Gen. M gr., J. J. Davis. Office. Galveston
Owns the stock of the
wklnsville A Florida Southern Ry., Worth to
Tex. F. G. Pettlbone, Fed. M gr., Dallas.— (V. 107, p. 1195; V.108,p.l70.i
Hawklnsville, Ga.. 43 miles, and Ashburn to Camilla. Ga., 50 miles, $606,.
000. 1st M. 5% bonds being guar., p. A i. V 79. p. 2585; V. 97. p. 175. 305.
GAULEY & EASTERN R Y .— V. 106. p. 2228; V. 108, p. 1165.
DIVID. on
11892. 1898. 1899. 1900-05. 1906. 1907 to Nov. 1918
A GENESEE & WYOMING RR.— Retsof, N. Y ., to Pittsburgh A Lehigh
2n d p ref.(% )l 2
3
3
4 yearly
4 )i
5 yearly
Jot., l i miles: Retsot Jot. to Grlegvllle. 4 m.: branch. 2 m.; total. 16 miles. lstA
B O N D S .— First mtge. o f 1895 (A bstract. V . 61. p. 429) provides that the
Stock, $500,000; par. $100. Dividends since 1909: Aug. 1910, 1J*%; $684,000 first pref. stock shall be a lien second only to the bonds and coupons.
S °.v ” 1 R ? > :
1 9 1 2 and 1913. 5% (Q.-F.): 1914.
The First Consol. 4sof 1902 arefor the authorized auiuunt of $10,000,000
Feb. and May. 1 )4 %, Aug. 1914 to Aug. 1916. 1 H % quar.: Nov. 1916 2%
of which $4,684,000 are issuable to retire the $4,000,000 5s and $684,000 1st
1917, 10%. 2% Q.-F. with a special dlv. of 2 % paid In^Aug 1918; Feb%A pref stock and ^3.316.000 are reserved for future needs. V. 75. p. 980.
May, 2% quar. Year ended Dec. 31 1917 grass $325 913- net after
"AD VA N C E S" AND “ STANDARD R E TU R N ,” Ac.— See page 5.
taxes, $1^7,459; charges $105,573; divs. (10% ). 1.50.000: bal'., su'r.. $11,886.
EARNINGS.— 12 m os.,/1918..G ross, $3,694,801; net (before $445,263
For 8 mos. ended At g. 31.1918,.grass, $291,456; total net income. $168,756;
Jan. 1 to Dec. 31.
11917..Gross, 2,938,428;
(taxes),
647,347
charges, $86,933; divs. (6%) $30,000; bal. stir., $51,824. Pros?. M . B.
REPO RT.— Year end. Dec. 31 1917 in V. 107, p. 1666:
Fuller, Scranton, Pa.; Soc. A Treas.. W. II. Barnard. 2 Rector St., N. Y .— Dec.
31.
Gross
Oper.
Other
Interest,
Pref.
Balance
(V. 76, p. 1248.)
Years—
Earninos. Income. Income.
Ac.
Divs.
Surplus.
A GEOROIA COAST & PIEDMONT R R .— Extends from Brunswick to
1 9 1 7 -.-............$2,983,428 $452,359 $294,570 $388,589 $88,400 $269,940
■Collins Ga., 9 8 . 4 miles. V. 98, p. 839. Receivers appointed in 1916, 1916--------------- 2,669,809 581,247 174,547 360,202 88,400 307,192
Pres., Fairfax Harrison, Richmond, Va.; Federal M gr., E. 11. Coapman.
Frank D. Aiken and C. II. Leavy, Brunswick, Ga. In N ov. 1917 $100,000
receiver scertificates wero authorized. V. 105, p. 1208,2094. Foreclosure Washington, D. C.— (V. 107, p. 291, 1287, 16G6, 2289.)
salo sot for May 6 1919; upset price, $300,000. V. 108, p. 2060.
A GEORGIA SOUTHWESTERN & OULF RR. (Albany & N orthern
Bondholders’ committee: Henry L. Cohen (Chairman) II. Brunner and R v.).— Projected to extend from Albany. Ga., southwest to St. Andrews.
A. Fendlg, with Graham Adams, Sec., 61 Broadway, N. Y. Depositary, Fla., on the Gulf of Mexico. In Feb. 1910 acquired the entire capital stock
Columbia Trust Co., N. Y. City. V. 104 p. 2452.
*
of the Albany A Northern Ry., Albany to Cordele, 35 miles; trackage rights,
As
1912 '«•)
($3,500,000
auth Issue), see V. 94, p. 1448, 1763. 0.73 miles. V. 90, p. 109, 502. G. S. W. A G. stock auth., $4,0 0 0 ,0 0 0 ;Issu
*“ to 5s
r. o f im<>
soo.OOO auth.
Year ending Dec. 31 1918,, gross, $178,860; net def., $21,194; hit., taxes, Ac., able
at $20,000 u. m.; outstanding Dec. 31 1917, $40,500. The $4,000,000
$119,152; bal., def., $140*,346. Pres., F. J. Llsman.— (V. 105, p. 2094.)
mtge. Is secured by pledge of $350,000 cap. stock of Albany A Nor. R y..
A
c.,;
issuable at $20,000 n. m. In March 1919 interest charges were
★ GEORGIA FLORIDA & ALABAMA R Y .— Owns R.chland, Ga.. to being bonds
“ as fast as coupons are presented." For year end. Dec. 31 1918,
Tallahassee, Fla.. 131.22 miles. Including 26 miles opened Sept. 1909. Talla gross, paid
$150,925;
$43,445; other income, $1,963; charges, $39,730; bal.,
hassee to Carrabelle. on the Gulf of Mexico. 49.68 miles; branch. Havana. sur., $5,678. Innet,
1917, gross, $115,955; net, $26,309. Pres, and Gen. M gr.,
Fla., to Quincy,. 11.23 miles; total, 192.13 miles. Also operates steamer W. M . Legg, Albany,
Ga.; V .-P., Sec.-Treas., II. J. Bruton, Bainbridge,
Ga.; Aud., I. C. Johnson, Albany, Ga.— (V. 90, p. 502.)
★ GETTYSBURG & HARRISBURG R Y.— Carlisle to Gettysburg, Pa., 31.21
lnt., rentals, Ac.. $131,843; bal., def., $76,298. Pres., Cora B. Williams; m.; branch to Round Top, Pa., 2.93m.: branch Pine Grove Furnace to Hun
Sec.-Treas., L. G. Papy, Bainbrldge, Ga.; Fed. M gr.. W . J. Harahan. ter’s Run. 7.46 m. The Reading Co. owns 5571,600 of the $600,000 capital
stock; $535,000 deposited under its gen. mtge. of 1890. Of consol. 5s $215.
Norfolk, Va.— (V. 8 8 , p. 1437; V. 100, p. 1672.)
000 were guar, by Phlla. A Reading RR. (foreclosed). Gross earnings year
★ GEORGIA & FLORIDA R Y .— Owns from Madison, Fla., to Koysvllle, ending June 30 1916, $246,954: net, $65,076; int. on funded debt, $28,250:
Ga., 223.6 m.; Augusta Southern RR. (controlled), Augusta to Tonnille, taxes, $2,520: rents, A c., $19,134: additions, Ac., $5,080; surplus, $10,092;
Ga., 82)4 m.; trackage, 3.7 m.; branches, 96.5 in.; total, 406.3 miles. V. 95. p. 1039. For cal. year 1917, gross. $354,040: net. aft. tax., $99,016.
Owns stock of Georgia A Florida Term. Co. of Augusta and Valdosta and Fed. Mgr. (between Shippensburgli and liarrisburgh), C. W . Galloway,
uarantees Its 1st 6 s. A consolidation In Aug. 1907. V. 82, p. 1211; V. Baltimore, M d.
5. p. 345; V. 87, p. 480. 936, 1533: V. 8 8 , p. 681. On March 27 1915 re ★ GRAND RAPIDS & INDIANA RY.— (See Maps of Pennsylvania RR.)—
ceivers were appointed; the receivers in June 1918 woro W. R. Sullivan of Owns from Fort YVayne, Ind., to Mackinaw City, 367 m.; new lines, 63 m.;
N . Y ., Langbourne M . Williams and J. F. Lewis.
branches, 110 m.; total owned, 477 miles; operates Cin. Richmond A Ft
f
Lake Melville
JAM ES B A Y
Aihuqnipi
Pletipi L.
Main River1
Rupert
L. Mietassinis
.Mi&sakami.L*
IL.Mattagami
T!VS
S w
ar*
5 £X -S
3 \3^0
■
00 *^ £J O;
"*«tW A'rs""^
NAT(oiy;
Heron Buy
A.
Kobe, r a lS e ^ -'----
FORT WILLIAM.
ftfert
Reserve r u 0 ?
faperioi
Sudburj
-Nestorla-
^
/
—
V o tV
W
W
fo .
/ \ {S J 4 & *
}M
„<-V'
/ *
£ if
W
^
\
Ashland Jc.)>^V^*\N
~~_«•\_ / Fredfrictooj
Hurley
Pembine
jJ
1
reeaviRe ^ ____
\ ^ fe 3 ^ s STJf
, a l « C
t l
V Mackinaw'
iPrentice
'M S d so^
\^.
;ii_A Ul"FA*
A \ . /(JSSa A Halifax
Alpenac
ibbotsfonP
Green Bay,
^LL»«CO»
i □ go .
nfpORTUAN
.ya.rm°5 -W Ajk l5 ,,
' A . ' - ' W /*i§vskv-&
_2\Camp Douglas
rtsmoutb x“
\°>
Utica
ilbany
nTHACA
Van ETTEr-r
ingh&mton
IILWAUKEi
Lankin;
C. Dubuqut,
P0NTIA<
AZ-
fy/ANOA
Eernice"
Hinton
DavenporJ
' o.sluria
Galesburg
Falls
CreekJ
Akroi
Canton j?
'olumbus\
'heeling.
'PITTSBURGH
/
WILKES-BARROW
/
\ B£THL£H£,
L V A N I A
»«
IbPHlNGFIEU\D.r-'*^
0 __ra-uaerV
.HICAD'EEBffl
T^ovidene^
Itjj C o N\N
1N|:W LOTJ^P^
(E A S T E R N
EW YOR1
ERSSY CITY;
{» Trent
liurrlabui
cJlasvc^
T
ok5^ ^
lainden if
MAP
S E C T IO N )
OF THE
_TO
miles
tapolU,
Richmond
[aute
^CmHicothi
incInnat!
lircleville
LivE2 P.2 2 ---f"'
"
A N D C O N N E C T IO N S
------------- Double Track
—---------- Lines In Operation
Lines under Construction ■ ■»■»■■ Projected Lines
[V o l . 108.
Daimlle
htU «°Ptl5
i r
«e
GENEVA
tadisoj
Sprlntfheld
- v 5&
RAILW AY STOCK AND BONDS
)Nipigon
apr „
GodsL.
PEACE RIVi
COUNTRY,
PRINCE;
1910.]
IslandL.
Lake
SandyL.
Winnipeg
?0 >OKOVIAM4V3S0C| MILES/
W\?(nipegosis
u i ^ u vt
PARKS,,,. %
CH
A1?fiV ‘J
L0c.kp9rr.ft
ISLANDS
* * * &
Bella Cool*
\Co?±J^
UK
DEWAR) LAicf '
*
CLINTON
LHlooett
Gleiehen
"Sicamous Jc.
Fishermans
Okanagan
Landing?,
juanton'
CAN.
*1 BRAN DON -<
Dunmorel
’roctoi
’Bellingham
W
A !
Afissoui
Glendive'
Lewistown
flakes)
.Uclena
^Livingston
■^MlNNEAP&cii
Gardiner,
Sheridan
Yellowstone Yellowstone ■
i
/fjj National Parky
Y ' fi <S>\ Cody
Council
Austir
Huntington1
Boise )
&
Ketchum
ipooneri
Lberdeen
Mobridgd
Stdtea
Imataia
Sulern
Idahna
Hinckley
Anaconda
.Kennewick
'ancouvc;|6 a,
)RTLANoW -=j
-DbLUTH
Supertoi
ltUmarck'
Marmartb
Garrison
Cbebalis
Columbian-.
Crookston
Moorhead
KUensbt
*/
''Churchs Ferry]
Buford
lass Lake
Great Fall
S pokane
Trinidad
. SEAT/
JoijropIS
poplar
Pacific Jc.
Columbian
F a ils/
Republic
W oods
-T-Kapinka ® x $ V ^ ___
Pembina
Sherwood
MacLeod
Redfield/
‘Deadwood
fVVolsey
I’ lerre;
Moorcnift
Sioux F,alls
Mackay
Albert Lea,
Stamford
Thermopolis,
Edgemont
iheldon
Oakland
Valentine
Crawford'
Pocatello
Shoshone
Lander
Dakota Jc.
Casper'
Ilendale*
(W E S T E R N
Mulled
M AP OF TH E
A N D C O N N E C T IO N S
Double Track
m u mi -ami Unes in Operation
Projected Lines
Lines under Construction
Dakota
Rawlins
S E C T IO N )
GrandTrunkSystem
Slonx City
Alliance.
Great
SaltLakt
OGDEN
Granger
are
lVlnnemucca
Palisade
Garfield
jesburg
Suit Luke City
Eureka
Grand Islam
Uoldrege
Steamboat Springs<
Provo
Boulter
.Austin
OMAHA^ycouncil Bluffs
enne
Belleville.,
Glcnwood
denvei
Lincoln
l>cs Moines i
RAILWAY STOCKS AND BONDS
|Mila* A>
56
★ Control.
Government
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
IFor abbreviations, &c., see notes on first page]
Orand Rapids & Indiana Ry— Stock $6,000.000------First M mostly land grant g extended In 1899— zo*
First M extended gold guaranteed by Penn RR.zo*
Second mortgage $5,000,000 g o ld .____________ xo*
Muskegon Grand Rapids & Ind— First M g __ Ce.x
Traverse City R R — First mortgage gold-------------- z
do
.d o
Income bonds ($190.000)____
Grand Trunk Pac— First M £ guar Can Govt (text)oAr
Prairie Section M (Ser A) £2,100,000) guar p and I
Mountain Seo M (Ser B) £2,050,000) by Grand
Lake Superior Dlv 1st M £1,550,0001
Trunk
Sterling bonds guar by Can Govt $15.940,800.c*Ar*
Deb stk $50,000,000 red aft 1936. Int gu by G T
Gov’t Loan $10,000,000 seo. on Prairie section do
G ov’t Loan $15,000,000 cov. by deb. gu by G. T._
Dominion Government loan______________________
do $8,000,000 sec by mtgo V 103, p 406--------do
$4,500,000 (V 105. p. 1617, 999, 818, 497)
do
$7,500,000 (V 106, p 2559).........................
Grand Trk Pac Br Lines 1st M gu by Alb text—c*
do
do
1st M gu by Alb £238,600______
do
do
guar by Saskatchewan (see text).
do
Terminals guar by Sask text__________
do
Bridges auth $1,300,000 guar by Sask
Secured gold notes £2,000,000 guar red 101------- c*
Brand Trunk Ry— Consolidated stock______________
4% guaranteed stock non-cumulatlve £12,500,000.
First preference 5% stock £3,420,000 non-cum—
Second preference stock £2,530,000 non-cum------Third preference 4% stook £7,168,055 non-cum ..
Debenture stock £4,270,575_____________________1
Perpetual consol debenture stock (coll trust) cum. )
Second equip mtge (subject to 1st M In trust)__ cj
Great Western perpetual debenture stock________ o
Northern Ry third preference A A B bonds______o)
Debenture stock 4% perpetual £425,850--------- /
Canada Atlantic consol (now 1st) M g gu n A 1___
Wellington Grey A Bruce 1st 7s. Seo V. 108, p. 170
Three-year secured notes £1.000.000 red KM — c*
Five-year secured notes £2.500.000 red 101___ c*
Three-year secured notes (V 107, p 1287)_______ c*
Par
Value
Miles Date
Road Bonds
367
367
419
37
27
27
1.755
• 916
839
188
1891
1891
1896
1886
1883
1883
1905
1905
1905
1905
1914
’
$100
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
$ &£
£100 Ao
£ 1 0 0 &c
£100 Ao
£100 Ac
$100
1909
1913
1914
1917
1918
1909
68
$ A £
£100
1909
1914
1914
1884
’73-'74
•73-’74
£100
&c
£100
£100 Ac
£100
£100
£100
£100
£100
£100
£100
£100
3.512
3.512 £1874
( 1884
11869
836 M Var
490 M f 1868
11884
396 1905 100 , £200
1874
1918 £100 Ac
1915 £ 1 0 0 Ac
1918 £100 Ac
Wayne R R ., 8 6 m. On May 1 1917 purchased the property of the Mus
kegon Grand Rapids A Indiana RR. and Traverse City R R .; trackage, all
lina , 8 miles. See V. 106, p. 2644; V. 76, p. 811; V. 82. p. 988, 1098.
Successor Aug. 1896 of R R . Co. foreclosed (V. 63, p. 153). _ Under the
Federal operating contract tho company’s annual compensation Is fixed
at $929,385.
“ ADVANCES” AND "ST A N D A R D R E TU R N ,” A c.— Seo page 5.
S T O C K — Stock, $5,791,700 out. Penn. Co. on Dec. 311918. $3,212,000.
T DIV ’S.— 1900, 1%; 1901, 2■%; 1902 to April 1910,3% (yly); none since.
BONDS.— The first mtge. bonds extended at 414% ate endorsed with the
guaranty of the Penn. RR. Co. to purchase the coupons as they mature,and
tho bond Itself at maturity. See guaranty, V. 56, p. 649; V. 69, p. 1193.
Of the 2nds, $888,000 were owned Jan. 1 1919 by Pennsylvania R R . and
$4,375,000 by the Penn. Company, which company guarantees the prin
cipal and Interest on $1,038,000 2d M . bonds.
REPO RT.— For 1917, V. 106, p. 2614. In 1917 carried 6,025,245
tons of freight, 23% being lumber, Ac., and 44% coal, coke, Ac.
Calendar
Gross
Net, after
Other
Interest, Additions, Balance.
Year— Earnings.
Taxes, Ac. Income. Rents, Ac. Bett's.Ac. Surplus.
$1,085,398 $90,152 $922,068
- $2r3,482
1917___ $6,491,358
1,201.300 83,323
926,923 $300 000 57.700
1916___ 5.897.565
Company’s statement for 1918, Govt, compensation, $774,284; income
from investments, rentals, A c., $27,910; war taxes, $7,774; int., rentals,
A c., $493,949: bal., sur., $300,471.
„ „
Pres., J. J. Turner, Pittsburgh, Pa.; Trcas., J. 11. B. Mclvnight, Pitts
burgh, Pa.; Gen. Mgr. under U. S. Govt., W . B. W ood.— (V. 106, p. 2559,
2644, 2757; V. 107, p. 291, 1003; V. 108, p. 78, 171.)
QRAND TRUNK PACIFIC R Y .— {See M aps.)—1This new trans-conti
nental railway was built with the Joint financial support of the Govern
ment and the Grand Trunk Ry. of Canada under special Act passed by the
Canadian Parliament in 1903 and 1914. Tho several lines have a combined
length of about 1,750 miles, from Winnipeg to Prince Rupert, B. C ., on
Pacific Ocean, 30 miles south o f Alaska line, with branches, 1,180 miles;
total, 2,930 miles, viz.:
1. Western Division, Built, Owned and Operated by Company—
a. Prairie Section, Winnipeg to Rocky Mountains, about...........—
914
0. Mountain Division. Rocky Mountains to Paclflo Ocean, about— 883
2. Sundry Branch Lines— Built by co. and its subsidiaries— about 992
V. 98. p. 73, 1244, 1528. Winnipeg terminals. V. 89, p. 6 6 6 .
3. Lake Superior Branch, Built and Owned by Co.; Leased c%Oper. by Govt.—
Thunder Bav on Lake Superior to East. Dlv., east of Winnipeg . . . 189
4. Eastern Division, Built and Operated by Canadian Government—
Moncton. N. B.. via Quebec to Winnipeg------------------------------------1,804
In 1918 tho rails on 106 miles of tho road in British Columbia wero re
moved and sent to Franco under agreement for Joint operation with Cana
dian Northern Ry. of line in said Territory.— V. 107, p. 169.
It was originally intended that tho Eastern Division from Moncton,
N . B., via Quebec to Winnipeg, about 1,804 miles, should bo included as
part of tho Grand Trunk Pacific R y., and operated by it under lease from
the Canadian Government Railways, but owing to the Government's de
parture from original specifications ( 1 % grades and wooden structures
Instead of 4-10% grades and steel bridges) the Grand Trunk Pacific would
not assumo the lease. Since Nov. 1918 said division has been operated
with other Government-owned lines by tho directors o f the Canadian
Northern linos. V. 100, p. 1348, 1592; V. 105, p. 1415; V. 107, p. 2097.
ORGANIZATION.— Incorp. oy Canadian Parliament In 1903. V. 80,
p. 996; V. 81, p. 1315. As to Grand Trunk Paclilc Branch Lines Co., sea
V. 90, d . 1044 (also bonds below); V. 82, p. 333; V. 8 8 , p. 295, 822. 1372.
1437* V 107 p 8 9
1 In'March 1919 the Grand Trunk Ry. Co. paid the interest due March 1
on this company’s debenture stock, but the principal of the $10,000,000 4%
loan from the Dominion Govt., guaranteed by the Grand Trunk R y., due
April 1 1919 remains unpaid. V. 108, p. 151, 1917.
On March 4 1919 notice was given that owing to tho lack of funds
the Grand Trunk Pacific Ry. was unable to continue operations. Ac
cordingly, under the provision of tho War Measure Act, an order was
passed in Council on March 6 placing the Grand Trunk Pacific Ry. in the
hands of Hon. J. D. Reid, Minister of Rys., as receiver. V. 108,p.1060, 1274.
STOCK.— Authorized. $45,000,000 (par of shares, $100 each), of which
the $25,000,000 common Is owned by the Grand Trunk Ry.
BONDS, A c.— For full debt statement in 1917 seo V. 105, p. 1415.
The Canadian Government agreed to guarantee S3% 1st mortgage
bonds for an amount up to 75% of the cost of construction of the Western
division, such amount (a) In the case of the Prairie Section not to exceed
$13,000 per mile, or £3.210.000 In all: and (ft) three-quarters of total cost
per mile from the mountains to Pacific Coast, called Mountain Section.
Total Issue, £14.000.000: Royal Trust Co.. Canada, trustee. V 80, p.
996. 1234. 1363; V. 81. p. 507, 613; V. 89, p. 224, 286: V. 91. p. 214, 276.
Decision as to guaranty bv G ov’t, V. 93. o. 1386. 1462: V. 95, p. 1607.
In 1914 Canadian Govt, guaranteed £3,280,000 4% bonds duo Jan. 1 1962
V. 101, p. 1628; V. 98, p. 1766, 1920; V. 99, p. 342, 674; V. 100, p. 642.
Series “ A” (Prairie Sec.) and Ser. “ B " (Mtu. Sec.) 4% bonds secured by
a second mtge. (National Trust C o., Toronto, trustee) guar, as to prin. and
Int. by tho Grand Trunk Ry. Co., see in V. 8 (), p. 996; also V. 80. p. 996;
V. 8 6 . p. 794; V. 90. p. 1165; V. 92. p. 725.
j ^
„
Although the mortgage to secure the 3% bonds guaranteed by the Govern
ment ranks before the mtges. securing A and B bonds guaranteed by the
Grand Trunk Ry. of Canada, yet an agreement schedule to an Aot of 1904
provides In efTect that In the event of default by the company for 5 years in
ayment of the Int. on the 3% bonds, the remedy of the Government shall
e to put In a manager with the concurrence of the company to operate the
Western Division and to collect and distribute net earnings of each particular
division pari passu between the holders of the bonds guar, by the Govt,
and the holders of the bonds guar, by the Grand .Trunk Ry. Co. In the prev
portion of 75% of such earnings to the holders of the Govt, bonds and 25
to the holders of the bonds of this division guar, by the Grand Trunk Ry. Co
As to $10,000,000 loan of 1909, see V. 8 8 , p. 822, 1194, 1061, 1253. For
$15,000,000 loan o 1913. V. 96. p. 1629. 1772; V. 97. p 175. Regarding
g
Amount
Outstanding
Rate
%
When
Payable
APrivato
Control.
[Vol . 108.
Last Dividend Places Where Interest and
Dividends are Payable
and Maturity
A & O Apr 25 1910 114
$5,791,700
918.000
314 g J A J July 1 1941
4.455.000
4 X g J & J July 1 1941
5.000.
0004 g A A O Oct 1 1936
750.000
5 g J A J July 1 1926
F A J Jan 1 1933
250.000
3g
Held by Gr and Rap ids A Ind iana Ry
J A J Jan 1 1962
3
6 8 0 1 0 ,0 0 0
A A O Apr 11955
10.206,000
4
A A O Apr 11955
9.963.000
4
A A O Apr 1 1955
7.533.000
4
J & J Jan 1 1962___
4
15,940,800
M A S Perpetual
31,879,252
4
A A O Apr. 1 1919
1 0 ,0 0 0 ,0 0 0
4
J A J July 1 1923
15.000.
000 4
M A N On demand
6 .0 0 0 .
0 0 05
.1 A J On demand
7.081,783
6
J A J On demand
6
5.038,053
7.500.000
M A N Fob 25 1939
4
2.430.000
M A N Feb 15 1942
1.139.596
4
M A N Jan. 22 1939
4
11,315,052
M A N 1943
4K
1,881,792
Dec 18 1943
414
V105.P 1415
M A S 2 Mar 2 1921
9.720.000
6
£23,955,437
1917
£12,500,000 See text M A N (Nov
M A N | to Nov 1918
£3,420.000
1 none paid.
£2,530,000
Apr 1914 214
£7,168,055
J A J 14 Irredeemable
5
£4.270,375
Q—J Irredeemable
£24.624,455
4
July 1 1919
£372.900
6
Irredeemable
£2,723,080
5
A O Irredeemable
6
£14.500
A A Irredeemable
4
£308.215
Jan l 1955
A
16.000.
092 4 a
called M A N
£62,400 var, say4 J A
£ 1 .0 0 0 .0 0 0
d g .1 A J 15 Jan 14 1921
£2.500.000
514 J A J July 1 1920
A A O Oct 1 1921
£3,000,000
6 g
Office Grand Rap, Mich
Winslow,LanierACo.N Y
do
do
Philadelphia. Pa
Winslow, Lanier A Co
Winslow, Lanier A Co
Bank of Mont, Lon A NY
lC o’s Office, London, or
V Bank of Montreal,
New York
London. Montreal A N Y
9 N Broad St.London,EC
N Y Montreal A London
do
do
do
do
do
do
do
do
do
do
do
do
Check from Co’s Office
do
do
do
do
do
do
Glyn, Mills, Currie A Co
London
Mont, N Y A London
London
London, England
London
Grand Trunk Pacific Branch Lines bonds, see V. 90, p. 1044, 1165; V. 8 8 ,
p 1437; V. 96. p. 285; V. 97, p. 1583. For issues guaranteed by Provinces
of Alberta and Saskatchewan, seo V. 99. p. 1451; V. 95. p. 1331; V. 96. p.
285; Y. 94, p. 1448. As’to Dominion guaranty of $15,940,800 (£3.280.000)
4% issue of 1914, tho final 87,500,000 of which had been issued in Jan. 1919,
see V. 98, p. 1766; Y. 108, p. 480, 578.
„
Perpetual debenture stock, see V. 84, p. 570; V. 96, p. 1296; V. 8 8 , p. 624;
V. 90. p. 303; V. 96. p 789; V. 94. p. 207: V. 95. p. 1207, 1607: V. 96. p.
789, 1088, 1297. 1629. 1700. Seven-year 5% notes of 1914, seo V. 98, p. 73.
In April 1919 the Canadian Govt., by way of loans, A c., had put $145,
000,000 into tho Grand Trunk Pacific. Tho final $951,911 of the Govt, loan
of $7,500,000 authorized in 1918 was turned over to tho company in Feb,
1919. Compare V. 105, p. 1415; V. 106, p . 2559.
FINANCIAL STATEM ENT. AC.— A full financial statement as o f
Feb. 29 1916 was given in V. 102, p. 1982. Reports of members of the
Royal Commission, V. 104, p. 1754, 1800, 2117, 2235' V. 105, p. 1415.
EARNINGS.— For year ended Juno 30 1917:
G.T.P.Ry. G.T.P.Br.L.
G.T.P.Ry. G.T.P.Br.L.\
Oper. revs ..$6,651,298 $ 1 ,5 9 3 ,019 1Deductions,
Net.............loss 250,878 loss225,6131 Inel. int., Ac$7.991,766 $1,222,523
Non-oper. inc. 2,535,064
909,376|Net deficit ..$5,707,581
$538,760
Note.— Deductions from gross income G. T . P. Ry. includes $906,934;
the operating loss on tho branch lines and non-operating Income of the
branch lines company includes credit for this amount.
In March 1919 it was reported authoritatively that whereas in 1917 the
Grand Trunk Pacific showed $2,200,000 and in 1918 $1,900,000 available
for interest, it was in 1919, owing to the insufficiency of tho increased rates,
showing a deficiency, instead of a surplus, in net results.
For years ended June 1916.—
Gr. Tr. Pac. G.T.P.Br.L. Transcon.Ry.
Operating revenues_________________$6,963,189 $1,319,599 $5,798,616
Net Income after oper. exponsos_____ 1,070,904 loss 50,534
466,135
Charges other thau funded debt----------------------------808,751
Balance ............................................ $1,070,904 loss $50,534 loss$342,615
Status in Aug. 1918, seo V. 107, p. 696.
OFFICERS.— Pres., noward G. Kelloy. Montreal. Can.: Sec.. Henry
Philips; Treas., Frank Scott.— (V. 108, p. 480, 578, 973, 1060.)
ORAND TRUNK RY. OF CANADA.— (See Maps.)— Ouebec, Can.,
Montreal to Chicago, 111., also to Portland. Buffalo, Detroit, Toledo, Ac.
REPORTED SEPARATELY.
SYSTEM PROPER.
Majority stock owned.
Miles.
Miles.
Lines owned__________________ 3.472 Central Vermont*------------------- 531
Grand Trunk Western*_______ 347
Leased—partly owned.
Entire stock owned.
Atlantio A St. Lawrence, Port
land,Me.,to Island Pond, V t. 165 Pontiac Oxford A Northern__ 101
Buffalo A Lake Huron............... 164 Detroit Grand Haven A M il*.. 191
96
Clnctn. Sag. A Mackinaw___________ 54Tol. Sag. A Muskegon________
Jointly owned.
Other lines___________________ 211
Detroit A Toledo Shore Llne___ 79
Total road-------------------------- 5,360
Total In earnings..................... 4.008
Oar ferry. Grand Haven to Milwaukee. *See separate statement this Co.
Southern New England RR. partly built. Seo that company.
HISTORY.— See V. 106, p. 395.
POSSIBLE NATIONALIZATION, Ac.— In April 1919 negotiations
looking to some form of Government purchase or lease wero resumed. See
V. 108, p . 1390, 1274. Protective committee, V. 107, p. 181. Govern
ment aid as to rolling stock. V. 107, p. 82.
DEBENTURE STOCK— NOTES.— Perpetual consol. 4% deb. stock
Included In August 1916 a total issue of $180,708,378, from time to time
authorized by Acts of the Parliament of Canada, of which $119,839,014
was In hands of public; $10 723.731 was pledged as collateral security for
promissory notes, $11 105,421 was set aside for certain specified purposes,
and $6 ,0-10 2 0 9 was held In the treasury without limitation as to purposes
of Issue. The debenture stock Is a first charge (1) upon the property,
subject to certain prior liens. Including the 5% debenture stock, aggre
gating about $54,000,000. and (2) on $76,048,441 securities of companies
consolidated with tho Grand Trunk Co , and controlled companies. V. 97,
p. 1733: V. qs. p. 1156
,
„
,
In Nov. 1918 Government sanction was sought for additional Grand
Trunk Ry. 4% Consol. Debenture stock to an aggregate amount tho annual
Int. upon which shall not exceed £100,000. V. 107, p. 2097; V.108,p.1274.
The $12,500,000 5M % 5-year notes of 1915 are secured by deposit
£3 600,000 perpetual 4% consol, debenture stock; red. on any int. date
as a whole or in amounts of not less than £2 0 0 ,0 0 0 by drawings, a propor
tionate part of collateral to bo roloased. V. 100, p. 1917, 2085.
The £1 000.000 6 % 3-year notes issued In Jan. 1918 to meet £1,000,000
5 U % notes due Jan. 14 1918, are secured by £1,700,000 perpetual
consol, deb. stock. V. 105, p. 2272, 2542. 2272: V. 100, p. 54.
In Sept. 1918 a now issue of £3,000,000 6 % 3-year notes was sold at 99
to replace £2,000,000 5% 5 -year notos maturing Oct. 1, and provide new
capital. Tho notes are secured by £5,000,000 perpetual consol, debenture
stock. V. 107, p. 1192, 1287, 1384; V. 97, p. 298, 52.
Canada Atlantic Ry. was merged Jan. 1 1914; V . 100. p. 1432; Its 50-yr. 4a
of 1905 (Royal Trust C o., Montreal, trustee), carry guar., prin. A int., of
Grand Trunk. V. 79, p. 1641, 24: V. 80. p. 2343; V. 87, p. 1477.
Station Co. bonds. V. 82. p. 452. Montreal Warehousing guaranteed
bonds. V 83. p. 37. Grand Trunk Pacific Devel. Co., V. 90, p . 300; V. 91.
p. 1449; V. 92. p. 1238; V. 93, p. 1107. Toronto Term. R y.. V- 95. p. 1474:
V. 98. D. 1768: V. 101. p. 1272 Ottawa Terms. Rvs.. V 95. p. 1207.
In May 1917 tho "Railway Board of Inquiry," formod pursuant to Act
of Dominion Parliament, presented a majority report recommending
nationalization of the Grand Trunk and Canadian Pacific systems and their
Joint operation by an indepondont board of trustoos as tho Dominion Ry.
Co. "for the benefit of the people of Canada." Tho company pronounces
this report inaccurate and misleading. V. 105, p. 180, 1415: V. 104, p.
1800. 1754. 2117. 2235; V. 106, p. 607. 929. V. 107, p. 181, 696. 1192.
A p r ., L919.]
★ Control.
Government
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
[For abbreviations, <Jfee., see notes on first page]
Miles
Road
Qrand Trunk Railway— (Concluded )—
New England Elev 1st M g gu clue $10,000 yearly.Montreal Warehousing 1st M $1 000.000 gold guar.
Car trusts due $197,000 scml-an red 102 V$---------Ba
do Ser B gold due $168 000 s-a red 102K Ba
do Ser O due s-a $113 M 6 yrs then $112 M .
red 102X .......................................................Eq *
do Ser D duo $125,000 s-a call 10 2K --E q.c
Whipple Car Co 1st r. e. & coll tr M g due $30,000
yearly red 102 (V. 97, p. 1663)......................... -C*
330
Orand Trunk W est— 1st M lnt gu $ (cur) Sc £ --F x
330
Gen consol M auth $30,000,000 guar p Sc 1------Usmx
Great Northern—Stock $250.000,000.. — ------- - - - Gt Nor 1st A Ref M g red 105 beg *41.-Ba.xo’ Ar* 7.480
Collateral trust gold notes call (see text). . . Bayyc
Old Underlying D ivision a l Bonds —
St P M AM consol mtgel (now 1st M) g o ld ...C e zl
for $50.000.000........./(V 91 p 518) sink fund.z)
Montana Ext 1st M ($25,000 p m) gold___Ce.zo*Ar
Paolflo Extension M £6,000,000 gold------- Ce.zo’ Ar
O B & Q col tr M g red at 105 H share------Gxc*&r*
do
do
do
registered------zr*
Minn Un Ry 1st mtge gold assumed...............C e.zo*
do
do
do
-----------------------E of M No Dlv M call 105 beg 1928 ass’d Ba.zc*&r
Mont Cent 1st M g ($6,000,000 are 6 s) ass...Ce,zoAr
Wlllmar A Sioux Falls 1st M g assum (end)Ce.zo* Ar
Spokane Falls A North first mtge g assum ..B a.xo*
Qt North Ry of Can—See Canadian North Quebeo Ry
Qreen Bay & Western RR—Stock (see text)-----------Debentures Class A Incomes text non-cum------- zo*
Class B Incomes after 5% on stock non-cum.zo*
D a te
B onds
Par
V a lu e
A m ount
O u tsta n d in g
R a te
%
W h en
P a y a b le
L a s t D iv id e n d
an d M a tu rity
57
Places Where Interest and
Dividends are Payable
1901
1906
1912
1912
$ 1 ,0 0 0
$ or £
1 ,0 0 0
1 ,0 0 0
$240,000
1 .0 0 0 ,0 0 0
1.379,000
1,344.000
3H ft. J A J July 1918-1941 UnSDATrCo. Portl’d.Me
Blair & Co., New York
A A O Apr 1 1936
4
do
do
4 K M A N M ay’ 19-May '22
do
do
4 'A g M & N M ay’ 19-Nov ’22
1913
1917
1 .0 0 0
1 ,0 0 0
1 , 1 2 1 .0 0 0
2,125,000
4H
5
1912
1900
1912
1911
1917
1883
1883
1883
1887
1890
1901
1901
1882
1882
1898
1887
1888
1889
1896
1896
M Sc N M ay’ 19-Nov '23
F & A Aug T9-Aug ’27
J & D Dec ’ 18-Dec '22
165,000
6 g
15.000,000
4 g J A J July 1 1950
M Sc S Sept 1 1962
4g
11,541.000
Q— F May 1 1919 IK
1 0 0 249.478,250 7 In 1918
4K g J A J July 1 1961
1 ,0 0 0 Ac x35.668.000
5 g M & s Sept 1 1920
1 .0 0 0 &c 2 0 ,0 0 0 ,0 0 0
J A J July 1 1933
6 g
1 ,0 0 0 13,344.000
4K g J & J July 1 1933
1 ,0 0 0 21.013,000
8,095.000
4 g J A J July 1 1933
1 ,0 0 0
4 g J A D June 11937
1 ,0 0 0 ylO,185,000
4 g J A J July 1 1940
£100 Ac z£5.854.100
4 g J A J July 1 1921
M.OOOAo 1107613 500 /
July 1 1921
1 4g
3— .
1,000 Ac )
J A J July 1 1922
6 g
2,150.000
1 ,0 0 0
650,000
5 g J A J July 1 1922
1 ,0 0 0
4 g A A O Apr 1 194Sz
1,000 Ac d9,695,000
1.000 Ac 1 0 ,0 0 0 .0 0 0 5 Sc ft g J A J July 1 1937
5 g J A D June 1 1938
3,625.000
1 ,0 0 0
J A J July 1 1939
6
229.000
1 ,0 0 0
$ &£
100
1 .0 0 0
1 ,0 0 0
2,500.000 5 Feb *18
600,000 5 Feb 'IS
7,000.000 HPeb'18
Feb
Feb
Feb
x y z Add’lamts.pledged, viz.: x $25,000,000 under collat. notes; of y $ 1 1 , 502,000 und er Pacific Exten.
ln 1917-18 tho-Canadian Govt, agreed to loan the company $12,000,000
for Interest charges. Improvements, &c. V. 105, p. 497, 818, 997, 141o.
In Mar. 1919 was reported to have paid the interest duo Mar. 1 on Grand
Trunk Pacific debenture stock with a part of the proceeds of a $15,000,000
loan. Compare V. 108, p. 917; V. 107, p. 1384, 1287. As to the receiver
ship of the Grand Trunk Pacific R y.. see that company above.
D IVIDEN DS.— Total percentage paid from earnings of each year since
1903 being the October and following April declarations combined:
k •06.’07.
'na »H7 'AQ
’fiQ »in
*1l1 *19
12 *1/1
10.’l
12. ’'13.
'14. *1K ’ Ifi. T 7-’ 18.
*08.’09.
fi't\
*05
See
4 4
4 4 4 3V$
Guar stock. % I 4 4 4 4
text.
5 5
0
5
5 5
5 5 5
1st prof j ____% 5
5
6
2
K
5
5
5
5
0
2d prof_____%\ 5
3
3 0
0
1 V$2 K 2 ^ 0
3d j>ref__ . . % I 2
Nov. 1917 to Nov. 1918 none on 4% guaranteed or pref. stocks. V . 107,
p. 1747, 1384: V. 106, p. 1230: V. 105, p. 1708, 1522. In May 1917 paid
2% on guar, stock and 24$% on first prof., and an annual 5% on 2d pref.
SYSTEM EARNINGS.— 11919.Gross, £1,744,600; net, dcf., $210,800
2 mos., Jan. 1 to Feb. 2 8 .\1918.Gross, 1,131,500: net, def., 329,600
REPORT.— Report for cal. year 1917 was in V. 106, p. 2115.
1918.
1917.
1916.
1915.
4,008
4,008
4,007
4,015
Miles ..............................
Gross earnings................£12,655,200 £10.725,482 £9,819,740 £8,292,688
9,002,894
7,228,027 6.511.257
Expenses and taxes____ 10,980,000
Not earnings________ £1,675,200 £1,722,588 £2,591,713 £1.781.431
Total net income______ £1,857.100 £2,268,740 £3,101,233 £2,540.701
155,206
f
155,206
Deduct— Rentals---------- }
155,206
V 1,518.5001
1,819,687
1,730,192
1,806,559
lnt. on ...................;.,&c.
bds.,deb.stk
Resorvo for conting5
400,000
-I
________ l
336,800
144,620
Adv. to controlled roads
267,566
Cr.62,813
(4)500,000
----------------Dlvs. on guar, stock----(4)
500,000
Do 1st pref. sto ck ..
----------------(5)
170,842
Do 2d pref. sto ck ..
----------------(5)126,420
B alanco...................... sur.£1,800 sur.£26,280 sur.£5,019 sur.£10,684
OFFICERS.— Pres.. Iloward G. Kelloy; Chairman of board, Alfred W.
Smithers.— (V. 108, p. 170, 268, 1060, 1390.)
★ GRAND TRUNK WESTERN R Y .— Owns from Port Huron, M ich.,
to Chic. Sc West. Ind. R R ., at Chicago, 331 m.; leases Chic. Kalamazoo &
Saginaw. 9.57 m.; Chic. Sc Kalamazoo Terminal, 1.73 m.; trackage Chic. &
West, fnd., 5 m.; total, 347 m. Stock, $6,000,000, all owned by Grand
Trunk V 60. p. 954: V . 71. o- 22. Alltod line Pont Ox. Sc Nor.. 100 m .
"AD VAN CES” AND “ STANDARD R E TU R N ,” &c.— See page 5.
BONUS.— Tho Grand Trunk unconditionally guarantees the Interest on
the 1st 4s. The Incomes were called for payment on Dec. 1 1910 at 85 and
any lnt. then due. V. 90. p. 1239. Jointly with Toledo St. Louis & West,
guarantees Det. A Toledo Shn»-e Line bonds. V .7 6 ,p 653: V. 89. p. 1411
Of tho bonds of 1912, $7,662,000 4s, duo Sopt. 1 1962, were purchased
by tho Grand Trunk Ry. Tho latter guarantees principal and interest;
$15,000,000 to bo hold to retire the first at maturity. V. 92, p. 795, 1108,
1242, 1436; V. 93. p. 1323; V. 97. p. 237.
EARNINGS.— 12 mos.,(1918-Gross, $19,376,033; net (bofore$2,135.981
Jan. 1 to Dec. 31.
\1917-Gross, 16,208,568; taxes).
2,375,492
Year ondlng Juno 30 1916, gross, $8,818,661; not, after taxes, $2,662,398;
other lncomo, $465,082; charges, $3,122,396; surplus. $5,084. For cal.
year 1917, gross, $10,165,881; net, after taxes, $1,886,993. Federal M gr.,
F. II. Alfred, Detroit, Mich.— (V. 107, p. 1003.)
★ GREAT NORTHERN R Y .— (See Maps.)— Operates a line from St.
Paul and Duluth. Minn., via Spokane, Wash., to Seattle, Wash., and Van
couver. B. O.. with trackage rights Into Portland, Ore., and numerous
branches In Minnesota. Iowa, North and South Dakota. Montana. Idaho,
Washington, Manitoba and British Columbia. Total miles of road in sys
tem Dec. 31 1917, 8,258, less 6 miles leased to other companies, leaving
8,258 miles in system as operated, viz.:
■ines owned
■ iti fee—
Miles.
’L
Miles. Controlled Companies—
St. Paul to Ht. Vincent. M in n .. 393 Vancouv., Vic. & East. Ry.&N. 270
Minneapolis to Seattlo ,\Vash. .1,832 Other lines___________________ 441
Trackage—
Everett, Wash., to lnt. Boundary 92
Seattle to Vancouver, Wash__ 173
Other lines owned In fee to Suporior, Butte. Sioux C ity, &C.4.807 Various other lines___________ 247
Total road owned.......... ------7 ,1 2 4 Second. A c., tracks Sc sidings..2,646
Now terminal companies 1917, V . 104,
----- ---------. -------p. 560;, V.
106,, .p. -----174.
Owns Jointly with Northern Pacific the Spokane Portland & Seattle R y..
6 6 6 miles.
V. 85, p. 1^73; Yv
P* 1529.
In Dec. 1908 Chic. Burl. Sc Quincy (Jointly held with Nor. Pac.) acquired
control of Colo. Sc Southern. V. 87, p. 1664. Usos Jointly Northern
Pacific line, Seattlo to Vancouver. Wash., 174 miles. V. 8 8 . p .1372.
Controls Midland Ry. o f Manitoba Jointly with Nor. Pac. Ity. V.95,p.236
ORGANIZATION.— In 1907-08 absorbed St. Paul Minn. & Man., &c.,
V. 85, p. 600, 1209: V. 8 6 , p. 168, 794; V. 106, p. 1577.
Groat Northern Equipment Co. In Jan. 1918 increased its capital stock
to $12,000,000. V. 108, p. 378.
STOCK.— In 1898 surrendered the right to Issue common stock, all stock
being "o f a single class with uniform rights.” V. 83, p. 1469; V.84. p.749.
DIVIDENDS.- 1'92 to ’96 (lncl.) ’97. ’98. ’99. ’00. 1901 to M ay T9.
Per cent.
..........J 5 % yearly
5 K OK 7
7 7% yearly. Q F
Also In 1898 60% In Seattle Sc Mont, stock, which was then exchanged
at 80 In payment or 40% of subscription to additional Gt. Nor. pref. V. 6 6 ,
p. 1044. 1188: V. 74. P- 829. In May 1901, 4$ % and In Nov. 1907 144%
was paid Trom earns, of Lake Superior Co.. Ltd., and In Dec 1906 unit for.
unit, shares In Great Nor. Iron Ore Properties. See "General Finances.”
BONDS.— Of the "1st & Ref.” 50-year bonds ($600,000,000 auth.), $78,
879.000) had boon issued as 4 K % bonds to Dec. 31 1917, of which $35,668,
000 sold and $18,211,000 held in treasury and pension fund and $25,000,000
deposited as security under company’s collateral trust Indenture to secure
tho Issue thereunder of $20,000,000 3-year 5% Collateral Trust notes.
These bonds (In hands of public) are a first lien, directly or through deposit
of stock, on 2.698.55 miles of road at $13,217 por mile, and a general lien
(subject to existing liens o f $22,475 per mile) on 4,781.77 miles: total mlloago
APrivatc
Control
Bank Montreal.NY ALo»
do
do
32 Nassau St. New York
do
do
do
do
do
do
do
do
do
do
do
do
N Y & Lond, Baring Broa
J P Morgan A Co, N Y
do
do
32 Nassau St, New York
do
do
32 NassauNYiLee.H.Boe
32 Nassau St, New York
do
do
do
do
Feb 15 1918 5% Office 40 Wall St' N T
do
do
Febl5 1918 5%
do
do
Feb 15 T 8 K %
Mtge.; of z £14 5,900 under 1st & Ref. Ki
covered, 7,480.32; also secured by equipment at the time of the mortgage
costing $59,073,180. upon $46,200,068 of which It Is a first lien. V . 92, p.
1499; V. 93 p. 871; V. 98. p. 698.
Provisions Respecting $600,000,000 First & Ref. KDffe- _
Sold for pres, purposes, $35,000,000; held in treas., $ 1 0 ,000,000.$45,000,000
Reserved to retire existing obligations, Including the 5222,400.
000 auth. issue of Northern Pacific-Great Northern Joint 4s,
duo 1921, of which $7,173,000 have not yet been Issued------332,062.000
Reserve for general corporate purposes, acquisition of new
lines, &c., and purchase of stocks and bonds of other cos------1 2 2 ,Joo,uuu
Reserved for the acquisition and construction of new lines, termlnals. Ac., at not exceeding 53.000.000 In any cal. year
lOO.OOO.OOO
The $43,211,000 of above Issue owned by tho company Includes: S21.2U,000 issued for acquisition of stocks of other cos., $ 1 2 ,0 0 0 ,0 0 0 for acquis n &
construction of new lines, See., and $10,000,000 of original $45,000,000.
St. Paul Minn. Sc Man. consol, mtge. of 1883. for $50,000,000,
now a
first lien on both land grant and 2.542.16 miles of road and a second lien on
2.47 m. of double track formerly Minneapolis Union Ry. V. 91. p. 518; V.64.
p. 518 ;V. 86. d . 229: V. 87. d . 1533: V . 88. d . 295. 624. 1061. 1372,
Montana Extension mtge. Is limited to $21,687,000 on 8 3 7 miles in State
of Montana; $10,185,000 are in hands of the public and $11,502,000 with
trustee of Pacific ext. mtge. to secure to that mtge. first Hen on tracks
Pacific Jet. to Idaho State line, 417 miles.
.
Pacific Extension mtge., £6.000.000. at £6,000 per mile In Montana and
£7,000 per mile west of Montana. V. 66. p. 1044. 1188; V. 80, P- 1111.
1174; V. 90. p. 303. See abstract of mtge., V. 52. p. 82.
On Dec. 31 1917 Gt. Nor. and Nor. Pac. owned $ 1 0 7 ,6 1 3 ,5 0 0 of the
5110.839.100 Chicago Burl. A Qulnoy RR. stock, exchanged for their
Joint 20-year 4% gold bonds (secured by deposit of the stock In trust),
on basis of 5200 In bonds for each 5100 stock. See circular, V. 72. p. 871.
1034, 1135. and application to list. V. 73, p. 294^. 903: V. 85. p.,600.
Eastern Ry. of Minnesota.— Nor. Dlv. mtge. of 1898 limited to 59,700,000.
are red. at 105 after April 1 1928. V. 66. p. 471; V. 88, p. 1002, 1253.
NOTE ISSUE.— On Sept. 1 1917 sold $20,000,000 Collateral TYust
Thrce-Yoar 5% gold notes, dated Sept. 1 1917, due Sept. 1 1920. but re
deemable at any time before Sept. 1 1918 at 101 and lnt., and
any time
thereafter before maturity at 1003*4 and int. Secured by $25,000,000
First & Ref. Mtge. 4 M% bonds, due 1961. V. 105, p. 606. 715.
GENERAL FINANCES.— Total funded debt in hands of public Dec. 31
1917, $163,140,515. Per mile of road (7.843.64 m .), bonds, $20.799, stock,
$31,806. Train load, year ended Dec. 3l 1917, 671 toas.
"AD V A N C E S" AND “ STANDARD R E TU R N ,” &c.— (See page 5.)
Under the Federal operating contract the company’s annual compensa
tion is $28,771,360. V. 108, p. 784.
EARNINGS.— 12 mos.,(1918.Gross, $100,661,067; net (bef.$16,271,497
Jan. 1 to Dec. 31.
11917-Gross,
88,534,163; taxes), 29,290,378
REPORT.— For year 1917, see V. 107, p. 75, 174.
Year end. ft Mos. to
Year end.
Dec. 31 T7. Dec. 31 T 6. June 30 T6.
8,233
§ ’ 112
Average miles operated_____________
Passengor earnings__________________ $15,836,341 $8,356,578 $13,661,645
Freight____________________________ 64,300,666 34,686,306 60,177,249
3,352,385
5,993.718
Mall, express, Sec__________________ 6,342,061
899,149
1,429,866
Other than transportation__________
2,119.666 ________________
Gross operating revenues_________ $88,598,734 $47,294,419 $81,262,478
Gross corporate income_____________ $31,044,767 $21,023,823 $35,061,822
Rentals paid............................................ $1,082,933
$475,740
$888,892
Hire of equipment balance, &c_____
149,021
126.487
129,048
Bond Interest accrued______________
6,772,641 3,220,419
Dividends on stock (7% per annum). 17,462,959
8,731.254 17.456,390
256.332
128,166
Renewal Allouoz Bay ore docks--------------3,100.865
Miscellaneous appropriations_______ 5,385,635
3.500,000
improvement and renewal fund--------------1
,
0 0 0 .0 0 0
10,448
Pension fund______________________
60,475
Balance, surplus_____. . . ________
$131,103 $8,331,309 $2,287,027
OFFICERS.— Chairman & Pres., Louis W. Hill; Vice-President R .
R . Budd; V.-Pres., Treas. & Asst. Sec., E. T . Nichols, New York, *
& Compt., G. R. Martin; V.-Pres. & Gen. Counsel, E. C. Lindley; Sec..
Asst. Treas. & Transfer Agent, F. L. Paetzold, St. Paul, Asst. Sec.
& Asst. Treas., N. Terhune. Federal M gr., W. P. Kenney; General Mgr.
under U. S. Govt., J. M. Gruber, and Federal Treas., L. E. Katzenbach,
all of St. Paul, Minn. N. Y. office, 32 Nassau St.
DIRECTORS.— L. W. Hill . R. Budd, E. C. Llndley. F. E. Weyer
haeuser, W. B. Dean, G. R. Martin and R. B. Shepard, St. Paul; A . L.
Ordean, A. D. Thomson, Duluth; P. L. Howe, Minneapolis; E. T .N i<*ols.
A. Barton Hepburn, N. V.— (V. 107, p. 401, 696; V . 108, p. 268, 378, 784.)
A GREAT SOUTHERN R R .— See Feb. 1918 issue.
★ OREEN BAY & WESTERN RR.— Owns Green Bay, Wis.. to East
Winona, 213 miles; branches. A c.. 38 m.; trackage Ch. & N. W ., 23 miles.
Compensation under Federal control reported to be fixed at $331,0UU.
SECURITIES.— There are no fixed charges on the property other than
taxes, nor can any be placed thereon or the property be sold or leased
without consent of 75% of stock. Class A debentures are entitled to 2 H%
’nterest If earned, then common stock to 2 H % . then the two share ratably,
hut after 5% on both, class B is entitled to all surplus earns. V. 61. p. 471.
LATE DIVS. ’05-’07. ’08. ’09. TO. ' l l . T 2. T 3. T4. T5. T 6 . *17.
5
5
5
5
5
5
5
5
5
Class " A ” debs. 5 y ’ly 5
5
5
5
5
5
5
5
5
5
Capital stock ..
5 y'ly 5
1
Class “ B " debs...............H
K K V* V4 IK Vs •i %
No dividends were paid i 1919 to April 15.
1336.
REPORT for year ending Dec. 31 1917 In V. 106
Bal..
Div. on
Cal
Gross
Net after Div. on
Dividend
Surp.
„
___ ______
■ ■ on■ Stock.
■
Deb. "B ."
Year.
Earns.
Taxes.
Deb.■ “■A .”
1917
__$838^536 $172,140 (5)S30.000 (5)$125.000(K%)S8.750 $8,390
1916
— 850.071 240.973 (5)30,000 (5)125.000 U%)70.000 15,973
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★ Government
Control.
RAILWAY STOCKS AND BONDS
R A IL R O A D C O M P A N IE S
[F o r a b b rev ia tio n s, & c „ se e n o tes o n fi r s t pa g e]
Mites Date
Road Bonds
Par
Value
Amount
Outstanding
Rate
%
When
Payable
APrlvato
Control.
[V ol . 108.
Last Dividend Places Where Interest and
Dividends are Payable
and Maturttg
J A D D e c 19 T 8 3% D L A W. 90 West 3«
6
$2 0 0 ,0 0 0
$100
Greene RR (New York)— S t o c k ,g u a r - ....- - .............
J A J July 1 1934
460.000
*23 1914
Greenville & Western RR— 1st M_$460,000--— - Guaranty Trust Co, N Y
J A J Jan l 1924
4
g
400.000
1
.6
6
6
1904
21
Greenwich & Johnsonville— 1st M 5500,000 g-G.zoAr
Jan 1 1939
437.000
5g
1909
21
Groveton Lufkin & Northern Ry— 1st M g p ld ....---■-Columbia Trust Co, N Y
M A N 15 Nov 151929
6 g
600.000
1909
1 ,0 0 0
Guantanamo & Western— 1st M 5600,000 gold-CpI.x
1918
—
Refunding mortgage $6,000,000--------- - - - - — Col
Various
312.000
Var.
Car trusts as of June 30 1918 (Series 1, 3 & 4 )--------—
1917
Gulf Fla & Ala— Receivers’ certificates $500,000..-July 1 ’ 17 Int not paid
July
1 1961
J
A
J
5
if
4,410,000
500
&o
1911
160
lst M $10,000,000 gold red 105 . - - . _ Col ,xc*&r *
New Securities Proposed by Reorg. Plan of Nov. 12 17: (appro X.)
Participation receipts issuable-------------------------- .-
Capital stock $2,500,000 auth v t c (participating
|<2 500 0 0 0
with incomes)--------------------------------------- ----------See text
In 20 years
text
6 g
idLSOO'.OOO
160 ’ 17-T8
1st M $3,000,000 gold (abt $500,000 reserved )...- Incomo 5% bonds ($1,500,000) participating with
do
In 30 years
text
up
to
5
k
l,
2
0
0
,0
0
0
T7-18
stock after 5% on each--------------- - - - - — ----- y;Oulf Line— See Hawkinsville A Florida Southern Ry
Gulf Mobile & Nor RR— Common stock (vot tr ctfs)
—- “ “ “ “
—
Pref (p & d) (v t certfs) 6 % . non-cum for 3 y e a r s ...
U S Mtg A Tr Co, N Y
A D Juno 1 1946
5R j
27,000
1896
Mobile Jackson A K G 1st M ------------------------- Ce
5
Now mortgage $15,000,000 authorized
Gulfport, Miss
In 1917 4%
Q-J
7.000.
1917
000
4%
1
0
0
Gulf & Ship Island—S to ck .. ------. . . . . . . . . . . . . . .
Metropolitan Tr Co, N Y
0005 g J A J Feb 1 1952
307 1902 1 .0 0 0 &o 5.000.
First Refund and Term M gold sink fund-N.xo’ xAr*
M A N May 1919 to ’24 Bankers Tr Co, Buffalo
6 g
300.000
1 ,0 0 0
1916
Serial debentures gcall at 105 ($50,000 due y ly)—
Frauklln Trust Co, N Y
Jan
1
1957
J
A
J
4
g
600.000
1
,0
0
0
1907
Oulf Term. Alobile— 1st M 5700.000 g gu (text) xo*&r*
Metropolitan Tr Co, N YM A N Nov 1 1939
2 .0 0 0 .
0 0 05 g
1 ,0 0 0
'99 1909
Oulf Texas & West— 1st M 510.000.000g red 105.f‘ —
30
yoars
See
text
Hampden RR— First mortgage see text-----------Hancock & Calumet— See Mineral Range RR
noy
Hannibal & St Joseph—See Chicago Burlington A
Central Trust Co, N Y
J A J Jan 1 1921
300,000
6 g
1(K) Ao
2 0 1895
Harrlman & Northeastern— First mortgage gold..
Union S B A Tr Co, Cine
J A D To Juno 1924
5
78.000
1914
Oar trusts due semi-annually------------------- - - —
Harrisburg Ports Mt J & Lane— See Penna Ry.
Fob 28 1919 1% Hartford
F
A
A
31
2
2.967.000
1
0
0
124
Hartford & Connecticut Western—S tooa ----------do
J A J July 1 1923
700.000
1 ,0 0 0
124 1883
First mortgage extended In gold In 1903------- Union S B A Tr Co.Cln
A A O Apr 1 1952
345.000
1 .0 0 0
vt
44 1902
do
do
A A O Apr 1 1952
5g
261.000
1 ,0 0 0
51 1913
New York Trust Co, N Y
Seo text
Q-J
6 .0 0 0 ,0 0 0
100
A A O Apr 1 1919 1H See Central of New Jersoy
3
2 0 0 ,0 0 0
100
4K
Hibernia Mine RR— Stock.
See tex t.
xtont be hel d In escro w for 3 yrs.
DIRECTO RS.— J. A. Jordan. Pres.; Edgar Palmer, V.-Pres.: Charles W .
Cox., Sec. A Treas.. 40 Wall St.. C. Ledyard Blair, J. A. Jordan. Henry R.
Taylor, W . J. Wilson. Cen. Mgr. under U. S. G ovt., F . B. Seymour,
Green Bay. Wis.— V. 107, p. 1192.
★ OREENE R R .— Owns road from Chonango Forks to Greene. N. Y ., 8
miles. Leased to Delaware Lackawanna A Western for term of charter
for 6 % on stock. Stock, $200,000: par, $100.
AGREENVILLE & WESTERN RR.— See page 132.
★
G R E E N W I C H & J O H N S O N V I L L E R Y . — O w n s fro m S oh u ylerv lU e. N . Y .
★ Johnsonville, N.Y 21.15m Stock. *225.000. all owned by Del. * Hud
son Co. V. 90, p. 790. Bonds, see table above. For’ year ending Doc. 31
1917, Ry. oper. rov., $152,886; gross income, $70,149; charges, $48,326,
dlvs., $13,500; bal., sur.. $8,323. For year 1916, gross, $142,131; net,
$76,964; charges, $42,213; divs., $ 1 3 ,5 0 0 : baL sur., $21,251. Pres..
I C. Blandy, Greenwich, N. Y . Federal M gr., F. P. Gutelius, Albany,
N. Y .— (V. 8 6 , p. 1224; V. 107, p. 802.)
AGROVETON LUFKIN & NORTHERN R Y — Owns Yeitch to Vair
Tex., 21.15 miles; trackage, Groveton to Veitch, 1.25 m ., and Vair to
Lufkin, Tex., 13.6 m .; total, 36 miles. Stock, $50,000; par, $100. Ponds
$437,000; see tablo above (V. 90, p. 100). For cal. year 1917, gross, $84,
393; total net, $38,646; charges, $33,647; bal.. sur., $4,999. Pres.. J. S.
Joyce, Chicago. Offico, Groveton, Tex.— (V. 90, p. 109.)
A GUANTANAMO & WESTERN R R .— See page 1 3 2 and V. 105. p. 1898.
GUAYAQUIL & QUITO RY.— Issue April 1911, V. 106, p. 1577. 1900.
A GULF FLORIDA & ALABAMA RY.— (See M ap.)— Pensacola, Fla ,
to a connection with the So. Ry. at Kimbrough, Ala., 143 m ., Gateswood,
Jet. to Owen. 15 m.: sidings. 10 m. Doubling branch. 2 m.: total, 17pl<f m.
In 1918 built fromTPensacola, Fla., to Navy Yard 5.08 miles. V. 101.
p. 614; piers, A c., Pensacola, V. 95, p. 1541; V. 97, p. 1203. V . 93, p. 1259,
163; V. 95, p. 419; V. 97. p. 49, 950.
Autn. stk.. 51.500.000 6 % non-oum. pf.; 56.000.000 com.; par. *100.
In M ay 1917 receivers were appointed; sole receiver is now John 1.
Steele. Interest on 1st M . 5s was not paid July 1 1917. On May 28 the
Court authorized the issuance of $500,000 receivers certificates; $517,000
of these were sold prior to Oct. 1918. V. 104, p. 2117, 2343; V. 105, P
2094; V. 106. p. 189. V. 106, p. 929. In Oct. 1918 the old mortgage had
been foreclosed and sale by order of Court was expected shortly.
Bondholders' Protective Committee.— George O. Van Tuyl Jr.. Chairman,
Pres. Metropolitan Trust Co.. N. Y . City; James F. McNamara. S ecy.
60 Wall St. Seo circular V. 104, p. 2117; V. 105, p. 2094.
REORGANIZATION PLAN.— In Nov. 1917 the road for lack of ade
quate rolling stock and other facilities was showing a doficit from operation
of about $10,000 a month. In order to put tho property on its feet, with
means to obtain the needed equipment, A c., and a prospective gross income
of $400,000, tho foregoing committee, which on Nov. 22 represented
$3,800,000 of tho $4,410,000 1st mtge. bonds, brought out a plan of reor
ganization dated Nov. 12 1917 (underwritten). V. 105. p. 2094.
This plan (in abeyance in April 1919) provides for now securities shown
in table at top of page.
BONDS.— As to the 1st 5s ($10,000,000 auth. issuo), see V. 95, p.
163; V. 95. p. 419. 1541: V. 98. p. 610.
E A R N I N G S . — 11 mas.,/1917-C.rass, $196,512; Net(aft. Ioss$1.142,225
Jan. 1 to N o v . 30.
(1916.Gross, 165,205: rents) loss
16.650
— (V. 101, p. 614. 1899, 2343. 2094: V. 106, p. 189.)
★ GULF MOBILE & NORTHERN RR,— Operates 424 (Feb. 1919) miles,
viz. Mobile, Ala., to Middleton, Tenn., 369 m .; Beaumont to Hattiesburg,
Miss., 27 m .; Ellisvillo Jet. to Ellisvllle, Miss., 6 m.; McLain to Wells,
Miss., 22 miles.
,.
- ,
Jackson Extension from Middleton, present northern terminus, to Jack
son. Tenn., 40 miles, over 75% completed, is expected to bo completed
early In 1919. Blodgett Branch will extend 33 miles into Henderson and
Wayne counties, Miss.; 22 miles placed in operation Aug. 17 1918.
GOVERNM ENT CONTROL.— R. V. Taylor, Fed. M gr., Mobile, Ala.,
W F Owen, Gen. M gr., Mobile, Ala. U. S. R R . Admin, from Aug. 1
to Dec. 31 1918 advanced Fed. Mgr. $200,000, and corporation, for con
struction purposes, $100,000; latter as 6 % loan. G ov’t contract not
6 X“ ADVANCE's ’ . ' a N
O ’’ %TAN DARD R E TU R N ,” Ac.— Seo pago 5.
ORGAN.— Successor Jan. 1 1917 o f New Orleans Mobilo & Chicago R R .,
foreclosed. V. 100, p. 1078; V. 103, p . 2238; V. 104, p. 256, 764.
In Jan. 1918 purchased the beneficial interest in $675,100 Meridian &
Memphis Ry. 30-year 5% bonds duo 1943, and also its $500,000 capital
stock, subject to $260,000 Collateral Trust notes due July 1 1919. Line is
operated as a separate entity. V. 108, p. 878.
STOCK, Ac.— Both classes o f stock aro vestod for not over 5 yoars in
voting trustees, viz., John W. Flatten, Frederick W. Scott. Samuel S.
Campbell, T . Nelson Strother and A. H. S. Post. The pref. stock is 6 %
non-cumulative until Jan. 1 1920, and cumulative thereafter. Additional
$150 000 stock of each class was issued in Feb. 1919 along with the $70,000
notes to conclude the Meridan A Memphis purchase, making amounts
outstanding as shown in tablo above. V. 108, p. 878.
There is no mortgage debt except $27,000 old Mobilo Jackson A Iv. C. 5s.
LATEST EARNINGS.— 11918..Gross, $2,418,292; not (bef. $262,182
12 mos., Jan. 1 to Dee. 31.\1917--Gross, 2,322,650; taxes),
733,249
EARNINGS.— For year ending Dec. 31 1917 in V. 106, p. 2751; V. 107,
p. 696; V. 108, p. 878.
B a la n c e ,
Net, after
Other
All
D ecem b er 31
C ross
Taxes.
Income. Charges. S u r p l u s .
Y ea r—
E a r n in g s .
$592,102 $186,538 $6,629 $772,011
1917..............................$2,322,649
612.878
......................................
477,212
142,713
7.047
.
19
1 6 ............................ ..................
2,051,088
OFFICERS.— John W. Flatten, Pres., N. Y .; E. D. nogan, V .-P r« 3. A
Aud., Mobilo. Ala.; C. II. Murphey, Treas., and R. F. Brown, Sec.. N. Y.
Federal Manager, see above.— V. 107, p. 696, 802, 1003; V. 108, p. 268, 878)
★ GULF & SHIP ISLAND R R .— Owns from Gulfport, on Mississippi Sound-.
Gulf of Mexico, to Jackson. .Vllss.. 160.50 m.; Maxle to Mendenhall. 104.70'
• Saratoga to Laurel. 41.75 miles total 307 miles
_
“ ADVANCES” AND "ST A N D A R D R E T U R N ,” A c.— See page 5.
DIVIDENDS.— 1903 to 1910, 4% yrly; ' l l . 4% ; ’ 12-T3, 2% ; '17. 4 % .
BONDS.— Of the first 5s outstanding in Dec. 1917, $986,000 bonds were,
in skff. fd. (bonds not callable). See V. 74, p. 426, and application to list.
V. 74. p. 1257; V. 81. p. 264.
EARNINGS.— 12 m os.,/ 19l8--Gross, $2,548,060; not beforo $514,927
Jan. 1 to Doc. 31.
\l917--Gross, 2,328,741;
taxes),
776,431
REPORT.— For year ending Dec. 31 1917 (V. 107, p. 396):
Years ending—
Gross.
Net.
Other Inc.
SnL'Jotfi
Dec. 31 19 17............ $2,328,741 $627,685 $45,538 $309,339 $363,884
June 30 1916............. 1,964,177
738.477 16,982
341,443 414,016
Juno 30 1915............. 1,633.006
429,584 31,488
340.069 121,003
Pres., Mrs. Melodia B. Jones, Buffalo, N. Y .; Sec., J. E. Gordon;
Fed. M gr., C. M . Kittle, Chicago; Fed. Treas., Charles Ehlers. Hatties
burg,'M iss.— (V. 108, p. 378.)
★ GULF TERMINAL CO.. MOBILE.— Owns union passenger station and
approaches at Mobile, Ala., leased by tho Southern Ry. and Mobile A Ohio
RR., whloh own the stock and guarantee the bonds. Jointly and severally,
D. & L. by end. Franklin Trust Co., N. Y ., Is mtge. trustee.— V. 84. p. oO.
★ GULF TEXAS & WESTERN RY.— Seymour to Salosvtllo, Tex., 99
miles. Has trackage agreement for freight trains to Weatherford. 31 m ..
and for passenger trains to Mineral Wells, 9 m., giving entrance via
Mineral Wells A N. W. and Texas A Pacific to Dallas and Fort Worth.
Compensation fixed under Government control, $29,735.
Stock auth., $500,000; outst’g June 1917 $250,000: par or shares. $100.
Of the first 5s ($10,000,000 auth. Issue). $2,000,000 have been Issued on tho
first 99 miles. V. 89. p. 993. 1223: V. 90. p. 109; V. 93. p. 44: V . 99, p. 406.
Loans and bills payablo Dec. 31 1917, $568,329: car trusts none. For cal.
year 1917 (130 av. m .), gross, $160,894; oper. def., $32,584; other Income,
$1,409; bond, int., $100,000; rontals, Ac., $12,557; def., $143,733. I res..
J. J. Jermyn, Scranton. Pa.: Sec. A Treas.. W. Frank Knox: Dallas. Tex.
under jurisdiction of Fed. Mgr. J . L. Lancaster, Dallas. V . 108, p. d /o .
A HAMPDEN RR. CORPORATION.— See page 132.
★ HA RRIMAN & NORTHEASTERN R R .— Harrlman to Petros. Tenn.; 20
miles
In Nov. 1902 entire ($600,000) stock acquired In Interest of Clue.
New Orleans A Tex. Pao. Ry.. but Is operated separately. V. 16, p. Ib7.
DIVIDENDS.— In 1907, 4% ; 1908. 2 ^ %; 1909, 2% : 1910 to 1914. incL.
nono; 1915, 3% ; 1916. 3% . For 6 mos. to Doc. 31 1917, gross, $71,030.
net, $15,226; other incomo, $8,705; int., rentals. A c., $ll,5b8; bal., sur.,
$12.363.— (V. 76, p. 212.)
★ HARTFORD & CONNECTICUT WESTERN RY.— Hartford. Conn., to
Khlnecllll, N. Y., 110 miles, and branch, 14 miles. Leased till Aug. 1940
to Central New England Ry. (now controlled by Now York New Haven A
Hartford R R .). the rental paying charges and 2% on stock.— (V.83.p.l290.)
A HAWAII CONSOLIDATED R Y . , LTD.— Owns Paaulllo to Puna.
T. H.. 57 miles; Olaa Mill to Olenwood, 17 m.; branches, 7 m.; total, 81
miles. Successor In April 1916 of Hilo RR .. sold under foreclosure and re
organized, per plan In V. 101. p\ 1713. 2071. with authorized Issues as fol
lows: (a) $2,500,000 1st M . 5s; (ft) $2,575,000 7% cum. first pref. stock
(c) $679,960 6% non-cum. 2d pref. stock: (d) $4 0 0 ,0 0 0 common stock.
Report showed: For year ending Dec. 31 1918, gross $457,79.>; net, $89,244,
interest, $117.899; taxes, rents, Ac., $25,176; bal., deficit. $53,831. Pres.,
J. It. Galt, Honolulu, T. 1L— (V. 103, p. 2426.)
★ HAWKINSVILLE & FLORIDA SOUTHERN R Y .— Worth to Haw.
klnsvillo, Ga.. 43 miles; Ashburn to Camilla, 50 miles. V. 97. p. l< o, 365*
Stock. $100,000. acquired In Apr. 1904 by Georgia Sou. A Florida, which
guarantees bonds (see table above), prln. A Int. V. 9 /. p. 17o. 365. For
year ending June 30 1 9 1 6 . gross. $123,967: net. $14,372; other Income.
$1 799; Int., taxes, Ac., $53,206; bal., def., $31,035. Pres.. Fairfax;
Harrison; Treas. F. S. Wynn, N. Y. Federal Mgr., E. II. Coapman,
Washing on. D. CL— (V. 107. p. 1287. 2289.)
HAYTIAN AMERICAN CORPORATION .— ORGANIZATION.— Incorp. In N. Y. on Jan. 8 1917 with a view to developing the resources or
the Island of Haytl and acquired (per plan in V. 103. p. 145. 318: V 104
p 451) the control of the 55-mlle railroad, electric light plant, whirf anil
warehouses In Port au Prince, tho capital and principal seaport, and tho
control, through bond and stock ownership, of tho electric light property
at Cap Haltion; and cultivating and grinding sugar cane, principally in
tho fertile plans of Oul do Sac and Leogano where it has obtained control'
and ownership of over 20.000 acres, and has completed and operated since
Dec. 1918 a sugar factory with a capacity of 2,000 tons a day. Billspayablo (Sept. 30 1918) $1,025,000.
Capitalization (No bonded debt without consent of 75% of preferred stock).
Pref. (a. A d .) stock (par $100). Convertible Into common share
______
for sharo. Sinking fund bogins in 1920. Auth. A Issued (see
offering. V. 10 1, p. 451; V. 107, p. 2 2 8 9 )----.............................
000,000
Ordinary common stock (without par value).............................. 60.000 slis.
Founders’ stock (without par valuo)--------------------------------------- (>0.000 shs.
DIVIDENDS.— Apr. 1917 to Apr. 1919 paid I H % quarterly.
REPORT.— For 11 mos. to Dec. 31 1917 in V.107, p. 801. gross Incomo,
$341,304; not aft. taxes, $284,492; pref. divs., $185,733; sur.. $98,759.
Incomo for 9 months ending Sept. 30 1018, $110,200; dividends paid,
$252,051: P- & I. surplus, $188,156. V. 107, p. 2289.
Directors; P. W. Chapman. W. K. Dick, O. Edgar Elliott (Pros.),
A J Groif, Edward II. York, George B. Caldwell, F. A. Dillingham,
o ' H. Tobey (V .-P.), II. B. Harris (V .-P.), Philip W. Ilonry, It. L. Duer.
S. Mallet Provost, Reginald Lanier.— (V. 107, p. 801, 2289, 2376.)
★ HIBERNIA MINE RR.— Owns Rookaway to Hibernia Mines. N. J..
4.2 m., leased to Cent, of N. J, to Oot. 1930 at $0,000 yly.— (V .91,p.1766.)
A
p r
., 1 9 1 9 .1
★ Government
Control.
RAILWAY STOCKS AND BONDS
R A IL R O A D C O M P A N IE S
[F o r a b b r e v ia tio n s , A c . , s e e n o te s o n f i r s t p a c e ]
'Hocking Valley Ry—Stock
Gold notes call 101 after Mar I 1921 - -. - _ EQzxxxc
Equip notes goldSer of 1913 due 5100.000 ann___ :
do
do
Ser of 1914 due $80,000 ann_____
Hous Belt & Ter— ls t il
Hous & Brazos Valley- -1st M (trus Mero Tr Co, St L)
Hous E & VV Texas— Is
First mtge $3,000,00
Hous St Tex C RR— 1st
Cm-oir 1st \I S3.000.000 auth (V 94, p 131).. . .
H udson Cos— Prof stock (now com) text S4.000.00
H udson & Alanhattan (Hudson River T ubes)—
Common stock voting trust certificates__________
Prof stock 5% non-cumulatlve voting tr. certs__
New York <Sc Jersey first mortgage red 110-G.xo*
First mortgage convertible_______________G.xc*&r
First lien & ref M $65,000,000 g red 105.Ce xc*&r*
Adjust Inc M $33,574,000 red parcu beg ’20 Gxc*&r
Real estate mortgages___________ ____
Car trusts ser B g due $25,000 s-n(V91,p 1253l(lz'.o:
Car trust ser O due $21,000 s-a (V 92, p 1 0 2 5 )..Gz
Huntingdon & Broad Top—Common stock__
Preferred stock 7% non-cumulatlve___ __
First M extended In 1890 (lnt only In gold)
(IPx
Second M old 7s extended In 1895 p & 1 g o ld .. (IPx
Third M consol extended In gold In 1895-QP so*
Car trusts gold due $34,000 yearly'V 84,p 1424 x
Equipment trusts duo about $6,600 s-a
PeP
Miles Date
Road Ronds
__
119 1807
121 1875
340 1809
__ 1919
1919
1913
- - - 1914
24 1892
1907
2 0 1907
l 191] 1893
1
l 1893
453 1890
453 1890
55 1900
106 1891
41 1885
94 1910
__ ____
___
—
...
...
...
...
...
72
72
72
72
72
...
Par
Value
Rate
%
$ 1 1 ,0 0 0 ,0 0 0 5 X
500 &c
1.401,000
1 ,0 0 (J
2.441.000
1 ,0 0 0 &o 1 0 , 0 2 2 .0 0 0
pledged
1 ,0 0 0
1 ,0 0 0
7,500,000
1 ,0 0 0
500,000
1 ,0 0 0
400.000
$100
1 .0 0 0
1 ,0 0 0
100
1 .0 0 0
1 .0 0 0
1 ,0 0 0
1 .0 0 0
1 .0 0 0
1 ,0 0 0
1 000
1 .0 0 0
25
2 2 0 ,0 0 0
4,563,000
420,000
2.601.000
399.000
1.389,000
4.161,000
1,105,000
1.920.000
709.000
2,3a3.000
4,000,000
When
Payable
in T7 J
4g
A
F
4g
4H g J
0 g
M
6 g
K
5
F
4H
M
0 t
5g J
6
J
5g M
M
5g
5g J
4g A
M
6 g
5S J
J
6
6
J
Last Dividend
and Maturity
Sc D Jan 2 T9
2%
& O Oct 11948
& A Aug 11955
<3o J July 1 1999
Jan 1 1949
S Mar 1 1924
Sc A To Aug 1 1923
Sc A To Feb 1 1924
& ■S Sept 1 1922
& J July 1 1937
& J July 1 1937
■Sc N May 1 1933
dc N May 1 1933
& J July 1 1937
& O Apr 1 1921
Sc N May 1 1930
& J July 1 1941
& n Deo 1 1925
& D June 1 1940
61
P la c e s W h ere In te r e s t a n d
D iv id e n d s a re P a y a b le
J P Morgan & Co. N Y
do
do
do
do
do
do
New York
(Commercial Tr Co,Phil,
l and 71 Bway. N Y
Old Colony Tr Co, Boston
Central Trust Co, N Y
165 Broadway, New York
do
do
165 Broadway, NewYork
do
do
do
do
do
do
do
do
do
do
39,994,890
____
5,242,151
1902
5.000,000
F A A Feb 1 1932
5g
1907 $. £ or fr
944,000
4X g F Sr. A Feb 1 1957
Chase Nat Bank, N Y
1913
100 Sec 37,521,234
F & A Feb 1 1957
5g
do
do
1913
500 &c 33.102.000 Up to 5 See text Feb 1 1957
902.000
1910
1 .0 0 0
75,000
6 g
A ■t 6 Oct T9-Oot '20
1011
1 ,0 0 0
105,000
F ■Sc A Aug T 9-Aug ’21
5g
do
J & J
50 1.371.750
J <& J
50 2 ,0 0 0 ,0 0 0
1854
416,000
600
A * O Sept 30 1920
4g
See text
1857
500
367,500
F & A Feb 1 1925
4g
1805
1 .0 0 0
1,497,000
A & O Moh 31 1925
5g
do
1907
1 ,0 0 0
119,000
414 g A ■Sc O Oct '19-Oct ’21
do
1918
1 ,0 0 0
120,400
6
July ’ 19-Jan ’28
100
100
1 .0 0 0
★ HOCKING VALLBY RY.—The oompany’s main line extends from
Rockwell to Columbus. 119.9 miles; Columbus to Athens, 75.6 m.; Oldtown to Pomeroy, 80.7 m.; total main line, 276.2 miles, with trackage
(Toledo Term. KR.) Toledo to Walbridge, 3 . 6 m .; (N. Y . C. R .R .)
Toledo to Rockwell. 2.5 m.; Columbus and Athens, 2.2 m.; total main line
and trackago, 282.8 miles. Branches, 44 miles; 1oases W. & J. B. Ry.
Dundas to Jackson, 17.3 in.; Pomeroy Bolt Ity., Pomeroy O 3 9 m .- total
349.7 miles; 2d track, 55.3 in. Owns part interest in Toledo Terminal RR
V. 99, p. 1210. Double tracking, V. 105. p. 1801.
HISTORY, &o.— Successor Feb. 25 1899. per plan V. 6 8 , P. 231, of
Columbus Hooking Valley & Toledo Ry. foreclosed. The coal lands aggre
gate about 20.975 acres, and are covered by the consolidated mortgage
artly by direct lion and partly by pledged securities. Decision in Ohio
tate anti-trust suit. V. 105, p. 997. 909. 818.
contract about to be negotiated under the Federal Control Act of
Mar. « l 1018, it is stated, will probably allow tho conioanv an annual
compensation o f $2,637,167, to which should bo added other Income
estimated for the year 1918 at approximately $120,753. Tho corporate
oxponses and fixed charges, including rentals and interest amounted for
the same period, to only $1 391 827, leaving available f o r ^ S a l income
^noCS’ dividends and additions to surplus, a halanco o f $1,366,093. V.
lOo. p . 7o4.
DIVS. J '01. ’02-’06. ’07. ’08-’ 10. ’ l l . ’ 12. ' 1 3 . ’ 14 *15 *ia '1 7 *io
Per ce n t-\ 1 « 3 yrly.. 3W 4 vrly. 7 7% 12
7 3
4
su 2
2 % . 1^ 7i 8 r p 2| 28Une 30; 3 K % 6cc- 31: 1918, June 2%3 jtn.21919.
S T O C K — Chesapeake & Ohio Ry. owns $8,825,900 stock.
BONDS.— The consols ($20,000,000 authorized) besides a lien on tho
entire property, subject only to $3,842,000 prior bonds have a first hen on
tb*) coal lands; $3,842,000 consols are reserved to retire the existing bonds
(tho latter may he extended at maturity), v 72 n 3 2 s- v 7 1 n lnoaT
V. 86. p. 229. Substantially all of the bonds and stock of the o'hlo T And
& R y. Co. and the Wellston & Jackson Belt R y? 18 mllM were denosfted
under said mortgage, but see V. 101, p. 370; V. 68 p 823^V 102 p 2 67
Tho $7,500,000 5-yr. 6% Secured Gold notes o f 1919 .s^-uVed bv T)led1t(;
of the $9,600,000 now Gen. Mtgo. 6s, Series '‘A r Z e v c t e n e A to rno lace
bnpwremonts0 K<y d
In 1917 and ou account o f additions and
Tho Gon. M tgo.'of 1919 is limited to $50,000,000 and it is also nrovided
that tho outstanding bonds including undor ^
throe times tho capital stock issue $9,783 0 )0
o f wMch xToon 0 0 0
Series “ A ," pledged to secured tho aforesaidnotes. AddlM oM YGbjSSi
Mortgage bonds within tho amount above stated,m ay boissuedhereafter
at par,ntinlt.nl
for refunding
purposes,
for tn
additions _.
to, and botterments
for
nHior
OTnnnflitiirnc
nnH nlcn
....
^ and
^ IOr
S
N ov. 1918. Car trusts outstanding May 1918, $1 080 000
E ii?nNI1Tt S ^ Q i mos” { i m 7 - - 9 ross’ 513,155,861; net (bef. $2,707,069
Jan. 1 to Dec. 31.
U 017..Gross, 10,b96.134; taxes,
3,287,312
ANNUAL RIC1 ORT. Traffic Is mostly freight, and over 70% of this Is
bituminous coal. Average revenue train-load Is large—in 1917 1 333 tons
Roport for cal. year 1917 In V. 106, p. 2004, 2028:
C
Operating r e v e n u e ............................ $10,69(M34
Oper. Inc. (after taxes)............................$2,447,845
Other income (net)................................
693,263
$s!200,420 Se.AH.'ltS
$2 011 438 51 957 409
576.977
Gross corporate income......................$3,141,108
d0bt.................................. 7r?iv’?2 7 li 9 5
Dividends.............................................. (5 ^ )6 04,972
$2,588,415 $2,102,806
S I.212,288 $1,350,432
(4)439,980 (4)439,980
Balance, surplus.................................. $1,328,940
$936,147
$312,394
OFFICERS.— Chairman and Pres., Frank Trumbull Now York- See
Carl Remington; Trcas., Jas. Steuart MacKio New York' Federal'M izt *
M . S. Connors. Columbus. O. V. 108. P 268?378^ 4 8 ™ 8 4
g '
A HOOSAC TUNNEL & WILMINGTON R R .— See page 132.
★ HOUSTON BELT & TERMINAL RY.— Owns a terminal line in and
around Houston. Tex.. 20 miles, with largiT frefght and passenger ter
& vv^tern°F’iv 011
Cola p™‘' rletaryroa ds■ vlz.fBeaumoPnt Sour Lake
Brownsville '^ M ex ico Ry. and TrlSity &
whlch^ach
Julv 1*1007
io (i?avt
unda«,i d^’ under
t,lewlipoljuffl
terms of ba^ls
an agreement
dated
»^ly
1 19071tAgroo
ftj?ro6 5to
pay,0 udqqp
pro rata
onEmfInn
If
a ° J r f r ^ b^ ls,'
ou bondfanK
d \ im ia. s i X V u V o f
or bonds issued, Ine Terminal Co. has leased from Onlf pnln tr
Ju,y 1 1907 al! o f ltsproperty In fu s tia n !
’ ’ aad Vie P aFn1/ !!a.>rdn) . aKr?od to Pay monthly rental and maintain
wa°r.PV.P 106/ p.^HOG. 2228 “ M .
G e T f c ^ M L G . C ho^tm ^F cd'
Tox.—'(V.S‘l 0 ? rep !t40,L l 802, )TOX‘ Fedoral M 8 r-. w - B. Scott, Houston!
1%
★ HOUSTON & BRAZOS VALLEY R R .—Seo pago 137.
Owns Hrtfm Nitne if nn& i ^ S T TEXAS RY.— (See Map of Southern Pacific.)
? * " ■ from Houston, Tex., to Sabine River at Logansnort, 191 miles.
A^"A 0 1v ? ^ eJl^.t AMr?dearr?.ei1reral contract. $375,566. V. 108, p. 974
ADVANCES AND STANDARD R E T U R N ”
__ «lnn Vmcrn 15
guarante^ * ' 9 d 3 « OOO n1f5,fh5 1 ’iy l 9 A100 owned by So. Pao- Co.. which'has
the *)°ads, PHa. and lnt., by endorsement, re
serving the right to call them at 105 Sc lnt. V. 70. p. 841; V. 71. p. 236.
, o n ‘ Vc ? « * , * “ *? A?0, *
30% '*> 1907-08.T 0% In 190^10. 11% In
19“ "/ni'o 913'14 011,1 ° f accum. surplus; 1915-16,6%; 1917,
§,%• f o r cal; ycar 1918- Kross, $2,087,716; net, after taxes, $434,324!
For cal. year 1917 gross was $1,862,980; not. after taxes, $594,587; other
Amount
Outstanding
APrlvate
Control.
Income, $51,554; int.,*cc., paid, $217,602; div. (6 % ), $$115,200: bal., sur .
$313,339. Gen. Mgr. under U. S. Govt., C. E . Johnson; Fed. M gr., W B
Scott. Chicago. 111.— (V. 107, p. 171.)
K
★ HOUSTON & TEXAS CENTRAL RAILR O A D .— (See Map of Southern
pacific.)— Owns from Houston. Tex., to Denison, Tex.. 338 miles; Hempitead, Tex., to Llano, Tex., via Austin, 215 miles; Bremond to Ross, Tex
55 m.; Garrett to Ft. Worth, 53 m.; Mexia to Nelleva, 94 m.; Giddings to
Hearne, 58 mu other, 43 m.; Trackage rights over San Antonio & Aransas
Pass. 38 m.; Texas & Pacific R y.. Fort Worth to Dallas, 31 m. Other
lines, not classified, 24 miles. Total operated Dec. 31 1917, 949 miles.
Annual compensation under Federal contract, $1,717,506.
“ ADVANCES” AND “ STANDARD R E T U R N ,” &c.— See page 5.
.S T O C K ,— Stock, $10,000,000, of which the Southern Pacific Co. owned
$9,998,400 par $100. V. 76, p. 1084. 1192. 1407,
In 1902-03 6 % was
paid out of accum. surp.; In 1910-11,20%; 1912-13. 3 % . V .76 . p. 1407.
BONDS.—-The 1st M . 5s are being gradually retired at or below 110 with
land s^os. The first mtge. was for $8,634,000. See abstract ot mtge. In
V. 52, p. 242. With the exception of $1,149,000 consol. M . 6 s (on which
no interest is paid) deposited with the trustee as part security for the gen
eral 4s, all of the consolld. 6 s have been retired wltn proceeds of land sales.
Southern Pacific Co. owns $450,000 Lampasas Extension 1st M . 5s. $400,
000 Waco & N. W. Div. 6 s, and the $2,383,000 Cut-Off 6 s. Unsold land
grant Dec. 31 1917, 18,688 acres.
EARN ING S.— 12 m os.,/1918_______Gross, $9,041,981; net, $2,644,970
Jan. 1 to Dec. 31.
(1917__......... Gross, 8.223,425; net, 3,297.800
In cal. year 1917 gross Income was $3,061,783; balance, after fixed charges
Including interest on funded debt ($606,823), $2,168,647.
★ HUDSON COMPANIES.— Incorp. Jan. 9 1905 ln New York, Holding
company for Hudson & Manhattan R R . Co. (see below). Owned Dec. 31
i ? l 7 *2,307.613 of the $5,242,151 Hudson Sc Manhattan R R . pref. and
$25,171,209 of the $39,994,890 common stock. V. 106, p. 493.
__The stockholders voted Jan. 14 1919 to reduce the capital stock from
$21,000,000 to $4,000,000, all tho $5,000,000 old common being voluntarily
surrendered and the $16,000,000 preferred being reduced to $4 ,0 0 0 ,0 0 0 by
a change in the par value of single shares from $100 to $25. V. 108, p. 78.
„ The $1,950,000 6 % notes due in 1917 and 1918 were retired as stated In
V. 104. p. 1801. in connection with the transfer of Greeley Square Realty
Co. stock and ref. bonds (V. 104, p. 1800) to the Greeley-Hudson Securities
Corn. (V. 105, p. 1806; V. 108, p. 263.)
The whole issue of $2,000,000 6 % sinking fund of the said Securities Corp.
(but callable at 105) having been disposed of together with
$ 1 ,0 0 0 ,0 0 0 of the stock, leaving $ 1 ,0 0 0 ,0 0 0 of the stock in the treasury of
Hudson Companies; this latter block ln 1919 was distributed to holders of
the reduced pref. stock o f the Hudson Cos. of record March 17, one $100
shaJ ° tgMtheliolders of each 16 shares (par $25) of Hudson Cos. V. 108,
p. 78, 277; V. 106, p. 493.
•
R EPO RT.— Balance sheet as of Dec. 31 1918.’ V. 108. p. 263.
OFFICERS.— W. G. Oakman, Pres.; Wm. Henry Barnum V.-P &
Treas^W m . Evcrdell, Sec. Office, 111 Broadway, N. Y .— (V. 108, p. 78.
HUDSON BAY R A ILW A Y.— (V. 105, p. 1104; V. 106. p. 2757. 1837.)
★ HUDSON & MANHATTAN R R .— (See M ap.)— Owns and operates
double-tube electric tunnels opened in 1908 from Sixth Ave. and 33d St.
N. Y . City, under the Hudson River to the D. L. Sc W. RR. station.
Hoboken. N. J.. and thence southwardly through the Erie and Pennsvlvania
RR. stations In Jersey City and under the Hudson River to the Hudson
Terminal Buildings on Church St. (one block west of Broadway), extending
from Cortlandt to Fulton St. Total double-track tunnel in operation 7 91
miles. Alsoaffords through service between Newark and N . Y . City
using Penn. R R . tracks from Jersey City to Newark. V. 90. D. 635 104l’
Eventually to extend to Grand Central Terminal. V. 98, p. 1993. ’ Owns
Hudson Terminal Bldgs. Fares increased from 17c. to 27c. to Newark
In 1918. V. 106. p. 2123. 2757; V. 107, p. 82. 181. 401. As to projected
trolleyllne connection with Federal Shipbuilding plant, see V. 106, p. 1461.
In Dec. 1917 passed temporarily with the steam roads as war’ measure
under Government control, but contract not concluded to April 1 1 9 1 9
£ ° X h a,oyances to yia r - 31 1919- *2,254,125; $1,000,000 as 6 % loan and
$1,254,125 on rental account. V. 107. p. 1344; V. 106, p. 822, 929.
BONDS.— Under the readjustment of Jan. 14 1913 (without fore
closure) (V. 96. p. 208) fixed charges were reduced from $3,021,660 to
$1,851.750. The plan was assented to in 1913 by about 98 H % of the
4
bonds and 95H % of stock. Application to list. V. 98. D. 393-8
First M . $65,000,000 Auth.) issued. 5% call, any lnt. dateat 105 $36,765 134
Reserved (Interest rate not to exceed 5% ) for—
(1) Retirement of N. Y . & Jersey RR. 1st 5s car trusts and
real estate mortgages ($1,207,500). not o v e r ......................$9,536,000
(2) Additions, betterments and equipment; also for exten
sions free from prior encumbrances, provided the annual net
Income of the company is 1 ^ times the Interest upon the
new 1st M . bonds. Incl. those then about to be Issued, say. 12.698.696
(3) Extension to Grand Central Station on same conditions. 6.000.000
Adfustment Income Mortgage Ronds— lnt. payable out of surplus
Income and cum. from Jan. 1 1920 (V. 96, p. 209), Issued.........33.102,000
Reserved for exchange for remaining 1st M. b o n d s .............
472,000
The deposited stock Is to be held for 5 years in a voting trust and
so long as the Adjustment bonds shall not have received full 5% lnt. for the
preceding year, the holders shall have the right to nominate or approve
up to one less than a majority of the board. Voting trustees: Charles
Francis Adams 2d.. Boston: Felix M . Warburg and Albert H. Wlggln N Y
Application in April 1919 to issue $1,054,000 1st Lien Sc Ref. M . bonds in
V. 108, p. 1610.
INTEREST ON INCOME BONDS.— 2% yearly 1913 to Oct. 1916 lncl.;
beginning April 1917, none, pending establishment of $1,000,000 reserve
for contingencies. V. 104, p. 856, 1483.
O'
H U D SO N
M AP OF
R. R. CO.
fTPAL
SYSTEM
THE NEWARK SERVICE IS OPER
ATED OVER PENNSYLVANIA R R
TRACKS BETWEEN SUMMIT AVE
STATION. JERSEY CITY AND
FttRK PLACE STATION NEWARK
R A IL W A Y
O cdqoQQQQQ^TERM'KAi^ K C rH0 ttOKEN
lODQDiiSflfl
fiia ^ o o a e o o
M7r°°Q°aaooo
ItieuOooaaaaa
A N D
asfQ
flDOODOOfl
fc^ooaoooaoo
S T O C K S
B O N D S
[V o l . 1 0 8 .
& M ANH ATTAN
A
p r
., la iO .J
* S
'7
RAILWAY STOCKS AND BONDS
"
R A IL R O A D C O M P A N IE S
I F o r a b b rev ia tio n s, A c . , se e n o tes o n fi r s t p a g e]
M ile s
R oad
Illinois Central— Stock $123,552,000_______________
Leased line 4% stock guaranteed (see remarks)__ z
First mtge of) Sterling Bond old 6s ext In 1895__ z
1 8 7 4 for Bonds extended In 1905 as $ bonds..
*15,000.000148 of 1880 due 1951 g o ld .-.zo * Ar
seoures a l l 3 Ms of 1886 due 1951 gold-_zo*Ar
equally .U s 3s of 1895 due 1951 gold._.zo»A r
(V 83. p 76) J3 Ms of 1903 due 1951 g o ld .-.o * Ar.
Trust bonds sterl. (sec by Ch Sb L A N O oons) _Us.z
Springf DIv 1st M rorM (V 60, p 1237) g--U s.c*A r
Kank As S W 1st M Otto to Normal Juno & br__ zr
Oalro Bridge bonds gold (see remarks)._U».zo*Ar
St Louis Dlv & Term M *10,000,0(X)gold ..U s .o 'A r
do
*5.000.000 (see V 65, p 1173) g.U s.yo*Ar
Underlying St LI Belleville ACarondelet 1st M.zo*
Dlv & Terml-ISt Louis Southern lstM g ..B a .o *
nal mortgage.)Carb A Shaw 1st M gold____o*
Purchased lines 1st M *20.000.000 gold._Us.xo* Ar
Ref M (Nor Lines) *120.000.000 g red..(l.xc*& r«
Collateral trust bonds gold * .................Us.zo*Ar
Coll trust *25.000.000 gold on L N O & T.U s.zo*Ar
Western lines first mortgage gold.............Ua.zo*Ar
Ch St L & N O oons M (*18.000,000) g lnt gu.xo'& r
do
guaranteed prlnolpal and Interest_____
Joint 1st Ref M (Southern lines) $120,000,000—
Series A callable 110 after Dec 1 1918_.F.y.c*r*
Series B callable at 110 after Dec 1 1918________
Memphis Dlv Is tM gold guar o A I (end).Us.zo*
Louisville Dlv & Term M $25,000,000 g ..U s.c*& r
Omaha Dlv 1st M g *5,000.000............._.Us.xo*«fcr
Litchfield Dlv 1st M g *4.000.000...............
F xo*
lstLleneqMJ30.000.000(lessS2B,613.000oanoel.) Us.x
S ecgbds call lOlAinton or aft Jan l ’24.Fvvv.c*&r*
Equip eq certs ser A g $400,000 s-a call 102M ___ x
Series B g due $175,000 s-a (V 9 7 .p 2 99).........x
Series O g due S99.000s-a redl02Mbeg 1920 _yc*
Series D due $95,000 each J & J; callable 102M &
lnt on or after Jan 1 1921.................................. k
Ser E due $275,000 s-a call ’22 102M% gu.CPyc*
a Includes *5,260.000 consol 5s pledged to seoure
Date
Bonds
Par
Value
T o t . net lnc.$3,135.188 $3,142,080
Surplus____
$1,847
$1,115
Railroads—
1918.
1917.
1910.
1915.
1914
GroM e a rn in g s..$5,078,422 $4,427,006 $4,084,848 $3,725,989 $3,750,950
N ot boforo taxes. _________$2,515,540 $2,462,214 $2 2nn onj
O F F IC E R S .— Pres., W ilbur O. Fisk V .-P ., Oren Ro
R . B . K ay; Gon. M g r. under U . S. G o v t., K en yon 15 C<
Now Y ork offico, 30 Church St.— (V . 107, p . 603, 1003 )
H U DSON R IV E R C O N N E C T IN Q R R . C O R P — Incornorated In
N . Y . State M arch 19 1913 to build for tho New Y ork Central Ftlt which
on D ec. 31 1917 ownod tho entire $250,000 capital stock (also ^,'500 non
notes) a high-level railroad bridge across the Ht&son R i ^ r betw een'cSatSS
ton and Shodack Landing, about 11 miles s o u t h o f A l b a n y
The U S
R R . Administration in M a y 1918 sanctioned the oxpondituro o f $2 000 (inn
on the enterprise. V .-104, p . 1801; V . 106. p . 219™ 2550^V. 107 p 181 )
★ HUNTINGDON & BROAD TOP MT. RR. & COAL CO — Owns from
W
8? T -o V
stooT
A
o
SS'
than $25 per share. In i 918 tho trust was extended till Anrll 1 1923
V . 106, p . 1230: V . 96, p . 420, 1021, 1297, 1488
p r“ 1 1923,
B O N D S , A c.— Paym ent o f tho interest on tho First M teo 4s and ahnnt.
$22,000 Interest and principal o f 5 % car t r u s t s .T i e Oct.’ 1 1918. was
d elayed, V . 107, p . 1384.
•
D IV S. ’98. ’99. '00. 01. ’02. ’03. ’04. ’05. ’06. ’07. ’08. ’09-Oct. T7.
Common
0
0
0
0
0
5
1
0
0
0
0
0
Preferred
5 5M ' 7
6
6
7
6 5 M 7 M 7 3 W
0
C A R T R U S T S .— V . 105, p . 2542; V . 106? p . 290
A N N U A L E A R N IN G S .—
Gross.
Net.
Int A c1 B alS ur
} « } 7 ..................................................... *842.238 $273,145 $147,531 $125 014
1916---------------------- ---------- -— -679,419
Pres., Carl M . G age.
1919*)
253.772
147 727
10A 04ft
Fed. M g r., Elisha L e e .P h U a .. P a - ( V . 107. p .
★ ILLINOIS CENTRAL RR.— (Ses Map.)—ROAD.—Operates from Chi
cago. 111., southerly to New Orleans, La., 913 miles, and westerly to Sioux
City, la.. 509 miles, with numerous branohes. viz. (*whtoh see):
R oad
M i le" s .
„„ owned
^ - in
" f e- e —
Leased—Control owned—
Miles
Obloago to Cairo, 111...]Main
Ohloago St. L. & N. O. RR..
Oentralla, HI., to Eastistem.. 706
Cairo,
111.,
to
New
Orleans_
_
646
Dubuque. Iowa___ J
Line to Louisville. Ao........... 762
Dubuq. A Sioux City (see above)
Mem. .Tenn.. toMem .Jot. .Miss 98
Springfield to East St. Louis__ 7 3? St.Loula
Alton & Terre Haute. 224
Peoria, 111., to Evansville, Ind„
E n tir e st k.owned-Uranohes.&o 986
with 6-mlle branoh------------- 234
Trackage, A c ........................... 184
Indianapolis, Ind., to Effing
ham, 111. (V. 93. p. 880).........177
Total operated Dec 311918.4.766
lnt. on bon
•onds. As to proposed tcnilnjstation InChicago V 103 n l M l
Owns all_—
Ml toe^MO- - . -—
Stock
—
<,*4,998,500
-,--wn#wv fvuuuuuu
common „u,i
and ,*15.0od.00o'pref0°of
OentralofGa. Ry. but
^ °P or^t°d Independently.’ See that co. above.
. Substantla ly all of tho sto<* of the Yazoo St Mississippi Valley RR..
1.382 miles. Is owned In the Interest of the Illinois Oentraf, the Utter also
^mire stock of ChJc. Memp?&y(i’ul?^K.‘. 5^Sra.;^!°96?p. 420, 716.
See° V 1100°5, p i8Mffa°/e dfc c l s l o n 296* Tenncssee ^ ntra‘ ltR nnn
X,
uLaSt.
? TiJ0
itne, st° clc ,s secured by deposit of *10.000,000
Ch.
Louis & New c?4?4
Orl.*stock.
V. 65 d. 1071: V. 106 n .395
In Dec. 1917 Union Pacific owned $22.500.W0Pof the common steik. In
addition to *3,486,420 com. and $1,930,990 pref. stock of Railroad Seeurr M n ’-Vw!10.
ln& tho equity in $9,200,000 additional.
LATE 100. ’OlSep. 04 05 to’ 12. 13. 14. 15 Tfl
17.
'IS
191
1919
mVS.|5M 0 yearly __________
7 yearly 8 5
5 6M 6Alex.
7
i
B O t i n s . — C a i r o b r i d g e - see adv. in ’’Chronlole.’’ May 7 1892.
. ThV Trust Bondsof 18§8i"e“securedby'deposltof *(L2&.000 Chicago St. L.
St New Orleans consols of 1881: also by a lien on the road. See V. 80. d 1.343
Trust bonds ot 1952 cover by pledgo of $16,350,000 5% 1st M .
bonds 863 milesof subsidiary lines. V. 55, p. 550; V. 102, p. 1346.
The *25.000,000 collateral trust bonds of 1953 are secured by pledge of all
too Loulsv.N. ° - *
<n°w Yazoo & Mississippi Valley R R ), *16.900.000 1st 4s, except $68,000, and $9,104,000 mtge. Incomes. V .6 1 ,p .ll2
Chicago St. t-ouis A New Orleans 5s have their Interest guaranteed (by
endorsement) until the principal Is paid. The 3 Ms of 1897 are guar., prlncipal and interest, by endorsement—see guaranty. V. 65. p. 1071.
•
rl^ 189S-8O0'‘Supplement’’ of Jan. 1899. Total auth.,
$10,000,000: *5.425.000 outstanding and $4,550,000 pledged in Feb. 19ld
as part security for secured gold bonds.
„ , 'V&
LoHliDlrtBon
T*rminal bonds are for *15.000.000 authorized,
$1,499,000 are held to retire *1,400.000 underlying bonds. Abstract of
mortgage In V. 68, p. 138. See also V. 68, p. 133: V. 71, p. 546.
Division A Term inal m tge. Is for *25,000.000; of the bonds
wer5 reserved to purohase the 46 m. (CecIUa br.) from Louisville
& Nashville and to retire the L. & N. bonds thereon. Chicago St. Louis &
New Orleans took title to the Loulsv. Dlv, and Joined In making mtge. See
y,’«68A p),i36’
®b»tract: also “ Supplement” of Jan. 1899. V. 65. p. 367.
516: V. 66, p. 133: V. 67, p. 681: V . 75. p . 671; V. 97. p. 887, 1024.
Rate
%
When
Payable
L a s t D iv id e n d
a n d M a tu rity
63
P la c e s W h ere In ter es t a n d
D iv id e n d s a r e P a y a b le
$100 $109296000 7 in 1918 Q—M
’l g i K f t 32NassauSt,N Y. A Lon
. 100 9.989.700
4
J & J
T9 2 %
do
do
1875
£200
2.500.000
4g A & O
1951
BarlngBros .London .Eng
1875
1,000
1.000.000
3 M g J & D Deo
1950
32
Nassau
St.,
New
York
706 1886
1,000
1.500.000
4g J & J
1951
do
do
1886
1,000 2,499.000
3M g J & J
1951
do
do
1895
£200
£500,000
M & S
3g
1951
Baring Brothers, London
1903 $1.000&c 3.000.000
3 Mg A & O
1951
32 Nassau St. New York
1836
£200 5.286,000
3M g .1 & J
1950
Baring Brothers. London
111 1898
*1,000
2,000.000
3 M g J So J
1951
32 Nassau St.. NewYork
131 1881
1,000
968.000
F A A
0
1921
do
do
1892
1,000 3.000,000
4g J A D
1950
do
do
L 239 /1897
600 See 8.377,000
3M g J A J
1951
do
do
(1897
1,000
4.998,000
3g J A J
1951
do
do
17 1883
1,000
470.000
6g J A D
1923
do
do
30 1886
1,000
538.000
4g M A S:
1 1931
do
do
17 1887
1 .0 0 0
241,000
M
A
S
4g
1932
do
do
748 1904 1.000 &o 12.000,000
3 M g J A J .July 1 1952
do
do
2,187 1908 1,000 &o 40.740,000
4 g M a n ‘:
1 1955
do
do
857 1888
500 &o 15.000,000
4g A A O.
l 1952
do
do
798 1892
600 &o 24.979.000
4g M a n ;
1 1953
do
do
218 1895
1,000 5.425,000
F A A
4g
1951
do
do
567 1881
1,000 al6.635.000
5 g J & D 15 .
1951
do
do
667 1897
1.000
1,359,000
3M g J & D 15 .
1951
do
do
1,512 1913
500 &c }
5 g J St D 1
1 1963
do
do
1.612 1913 £100 &c 133,348,100
5g J & D 1
1 1963
Baring Bros, Lon & N Y
10 0 1889
$1 000 3,500,000
4g J A D)
1 1951
32
Nassau
St..New
York
640 1897
600 See 23,732.000
' 1 1953
3M g J A J .
do
do
130 1900 1,000 &o 5.000,000
F A A j
3g
1 1951
do
do
1900
1.000 3.235.000
f a j
3g
1 1951
do
do
1908 ______ __ All owned
4g J & J.
1 1923
1919
1,000 16.000,000
1 1934
5M g J & j .
1913
3,200.000
4H g F A A J
T9-Feb ’23 N Y off or Com Tr. Phi la
1913
1.000
1.575.000
F & A .
5g
19-Aug ’23 N Y office or Un Tr. Pitta
.98 1915
1.000
1.188.000
4M g A A O (
19-Apr ’25 N Y office or Com Tr, Pbll
1916
1.000
1.330.000
4M J A J J ’ ’ 19-Jan '26 Bankers Trust Co. N Y
1917
1.000 4,950.000
5g M & N :
r T9-Nov’27 New York
Illlnol s Cent ral collat eral trust b onds of 1 886.
EARNINGS.— For 12 months period ending Dec. 31:
12 M os.—
Tot.Op.Res. Exp.ATaxes. Olh.Inc. Inc.Deduc. Balance.
............ $2,974,988
1918------------------- $0,824,845 $3,808,497 $18,040
1917..................... .. 0,170,314
3,103,743
14,137 $59,009
3,021,729
REPORT.— Year ending Dec. 31 1917 (V. 106. p. 1568):
„ C a l. Y e a r —
1917.
1916.
„
1917.
1916.
Gross revonue.$4,427,006 $4,084,848 Conting. res.. $085,000 $390,800
Net, aft.taxes.$2,207.102 $2,168,004 Prior bd. ln t..
280,807
264.543
Bldgs., n e t...
876,777
900,376 Fixed bd. lnt. 2.167,534 2,155,402
Miscellaneous.
51,310
73,099 Income lnt__ __________ (1)331.020
%
Amount
Outstanding
APrlvate
Control.
Of Purchased Lines_3 Ms of 1904 *14,662,000 were Issued on 748 miles of
subsidiary branch lines purchased. of which *2.662,000 were canceled
In Jan. 1911 and Ref. bonds substituted therefor. There are also $5 338.000 reserved to retire at maturity *968.000 bonds of the Kankakee
& Southwestern lsts due 1921 (see bond table above) and *4.370.000 bonds
of the Chicago Madison & North. (231 m.), which are pledged for the coll tr
4s of 1952. (See V. 71 p. 288: V. 79. p. 1273. 1642. 2588: V. 81. p. 1105.)
Refunding mtge. gold 4s of 1908 (auth. *120,000,000) are subject to call at
107M and int. M . & N. beginning Nov. 1918: V. 104. p. 863- V. 87 d
136£ 1420: V. 88 . p. 295: V. 92. p. 261. 527. 1636: V. 97. p. 1024: V 98, p!
1459. 1608: V. 99. p. 1300. Cover main line, Chicago terminals, so-called
purchased lines, Springfield Dlv., the St. Louis Dlv., &c.. a total of 2 174
m., subject to bonds aggregating *61,766.000. incl. *2,500.000 Chic. Hava
na & West. 5s and Rantout RR. ,5s pledged under 4s of 1952.
Purposes forWhich $79,260,000 Ref. Bonds (Nor. Lines) Unissued Were Res'd.
[On Dec. 31 1918 111. Cent. RR. owned $20,234,000 of these unpledged.
* 5<) 026 000
To retire a like amount of prior lien bonds_______ _
Additional main track. Improvements, funding debt, &o .
20 234 000
The Illinois Central and Chic. St. Louis & New Orl. RR. Joint First Re
funding M . bonds ($120,000,000 auth. Issue) are Issuable In series bearing
Interest at not to exceed 5% and are secured on about 1,512 miles of the
Southern lines. Including the main line from Cairo, 111., to New Orleans.
La-, « c ., and comprising all the system lines south of the Ohio River except
the Chicago Memphis & Gulf RR., the Montlcello Branch (52 m. and 21 m.
respectively) and the Yazoo St Miss. Vail. RR. V. 97, p. 1822. 1733. 1204p ‘ 2757 ? V 107 16° 6k n
P‘ 1300; V’ 100’ p' 397- 474- 1852; V. 106.
r ’ Purposes for Which Said $120,000,000 Joint Bonds Were Issuable.
[Dec. 31 1918, $29,979,000 outstanding; Feb. 1919, $17,350,000 pledged—
(a) To purchase and Improve railroads, terminal properties.
S e e ., covered by this mortgage, all sold________ _____ *33 348 100
W To refund or retire a like amount of prior mortgages______ 50.132,000
(c) For future Improvements, construction, etc......................... 36.519 900
Tho $16,000,000 5M % Secured Gold Bonds, Issued in 1919 on account of
Improvements and additions, wero secured by pledge of the following
a then market value of about $20,000,000, viz.: (a)
$17,350,000 Illinois Central RR. and Chicago St. Louis & New Orleans RR.
Joint First Ref Mtge. 5% bonds, Series A, duo Dec. 1 1963: (6) $4,550,000
Western Lines IstM . 4% gold bonds, due Aug. 1 1951. V. 108, p. 578.
Trt«(s.— V 96, p. 135, 553; V. 102. p. 608, 345; V. 99. p.
1748, 48; V. 100. p. 1257. Series E is subject to call, all (but not part)
on or after Nov. 1 1922 at 102M and div. V. 106, p. 189. 1577. 2123.
Loans and bills payable as of Dec. 31 1918, $21,150,000.
“ADVANCES” AND "STANDARD RETURN,” &c.— (See page 5.)
Under the pending contract with the U. S. Rlt. Administration the
company expects an annual compensation of not less than $16,282,374 per
annum, and In addition thereto it will be In receipt of other Income esti
mated at about $6,602,000 per annum, making available for fixed charges,
taxes, dividends, &c., about $22,884,000. All fixed charges (including
interest on the new 5M % bonds), taxes, rentals, sinking fund payments,
&cv.,ar3 estimated at $12,220,000, leaving a balance of $10,664,000 for
dividends, Stc. V. 108, p. 578.
EARNINGS^— 12 mos.,(1918..Gross, *107,320.261: net (bef. *17,135.850
Jan. 1 to Dec. 31.
11917..Gross, 87,144,786: taxes). 24.804.952
REPORT .-Report for 1918 In full In V. 108. p. 1675, 1693.
Corporate Income Account for 1918. Based on Expected Federal Compensation
Calendar Years—
1918 .
1917
Accrued standard return________________________*16.282,374
Net railway income.......................................
xl5,455,863 $22,911*624
Federal Income tax accruals_________________
928,723
1 400 864
Other income............................................................... 7.508,053
4,317!207
Deductions
11,078.491 10.636,641
Sinking fund and other reserves_________________
118,200
118 200
Investments in physical property________________
55,679
56 934
10,782,823 15.016!l93
Batance, surplus ...................
x After taking into account *764,953 for revenues prior to Jan. 1 1918
and $1,523,840 for expenses prior to Jan. 1 1918 as required by the I.-S C
Commission.
Calendar Years—
1917.
1918.
1915.
Freight revenue...................................... *58.443,367 *49.437.830 *42.681.011
Passenger revenue................................ 16,908.698 14.222.848 12.661.576
Other revenues...................................... 11.792.721 10.079.588
8,461.492
Total operating revenue.................. $87,144,786 $73,740,266 $63,804,079
Net, after taxes...................................... $18,606,217 $16,759,239 $11,492,233
Other Income........................................... 8.009.365 13.015.837
7.679.650
Gross Income.
....................... $26,615,582 $29,775,070 $19,171,888
Interest on funded debt........................$8,477,619 $5,546,266 $5,504,903
Rente. & c................................................ 3,121,770 6.762,391
6.529,815
Dividends.........................................(7M)7.923.960(5M)6011280(5)5.464.80Q
Surplus...................................................$7,092,233 $11,455,132 $2,672,365
Yazoo A M iss. Valley Ry.—
1918 .
1917.
1916
Gross earnings.................................... ..$22,477,009 $18,152,123 $15,135,123
Net,beforotaxes.........
5.745,4715,681,990 5.650.077
OFFICERS.— Pres Chas. A. Peabody; V.-P., Archibald S. Baldwin;
Sec., D. It. Burbank: Treas., R. E. Connolly. General offices, Chicago,
III.; N. Y . office. 26 Liberty St. Federal Mgr., C. M . Kittle, Chicago.
Directors.— Walther Luttgen. John W. Auchincloss, WUliam Averell
Hardman, R. W . Goelct. Cornelius Vanderbilt, J. Ogden Armour. Chas. A.
Peabody, John G. Shedd, C. B. Segcr, II. W. de Forest, Philip Stockton
and ex-officio, lion, Frank O. Lowden, Governor of Illinois; D. R. Bur
bank— (V. 108. p. 973, 1060.)
A ILLINOIS SOUTHERN RY.— See page 132.
★ INDIANA HARBOR BELT RR.— Owns Whiting, Ind., to Blue Island;
ill.. 14 miles; McCook to Franklin Park. 111.. 10.5 m.; Argo to Union Stock
Yards, Chicago. 11 m.; State line to Grassell, Ind., 5.5 ra.: branches. 5 m;
total owned. 45.5 miles; trackage. 71 m.; total, 116 miles.
"ADVANCES” AND "STANDARD RETURN," &c.— See page 5.
Annual compensation during Federal control, $296,053.
A
p r
., 1 9 1 9 .
★ Control.
Government
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
tFor abbreviations, &c., see notes on first page]
Miles Date
Road Bonds
Par
Value
Amount
0
Rate
%
When
Payable
APrivate
Control.
Last Dividend
and Maturity
Illinois Central (Concluded)—
Illinois Southern— 1 st M gold *3.000.000.........F
Income bonds *1,380.000 authorized.........__I
Illinois T u n n el C o —See Chicago Subway Co.
Indiana Decatur & W estern— SeeCln Ind A We
Indiana Harbor B elt— GenM*25,000,000 g G.xc
do
do
do
Chlo Ham A W flrst mortgage gold assumed.j
Equipment trust certificates $540,000________
Indiana Illinois & Iowa— See New York Centra
inuiaiirtuuiis uit—
ivx kuiu » l uut urtiiauiO-._;
Gen & Ref M $10,000,000 (?gu red text__ F
Interborough Consolidated Corporation—
*
*
*
lib
----
1914
1911
—
4f 1907
1907
27.48 1897
1916
& Lou Isville
1 2 ( 1886
1915
Common stock (no par value).
Prer stock (as to assets) 6 % non-curaulatlve
«...
Int.-Met coll tr bds g sec by lnt R T stk s f toxt .x&rc*
Bank loan replacing 10-yr notes (V.103.pl301(Ba.c<
Interborough Rapid Transit— Stock $35,000,000
Text
Ist & Ref M $300.000.000 g s rndl 110 itext) 0 .yc*& r ’1
Secured conv notes g call scries A & B__xxx.Ba.c"
International & Great Northern—
Common stock, see text____________
Preferred Btook (n A d) non-oum (see text)
First mortgage gold_____________ __________
z 1,106
Colorado Bridge bonds sinking fund___ __
Fz
Receiver’s ctfs (refunding issue)..
1st Refunding At *50,000.000 gold red 110.........Cex 1.106
Three-year 5% secured notes redeemable 101 g Cex
do B due $50,000 s-a (V 97, p .5 2 1 .7 2 9 )..Eqx
Receivers equip trust notes $39,000 semi-annually
$ 1 ,0 0 0
1 ,0 0 0
1 .0 0 0
1 ,0 0 0
&o
500 <tc
1 ,0 0 0
1 .0 0 0
65
Places Where Interest and
Dividends are Payable
3
5 g J & D June ’ 19-Dec'24 New York
J
6 g
J As D June 1 1951
In default
J ............... M & 8 June 1 1951
)
)
4g
4g
?
J
J
J
J
fx
5g
M A N May 1 1926
J Sc J Jan 1 1965
6
&
A
*
&
J July 1 1957
J July 1 1957
J Jan 1 1927
J Jan 1 1931
Grand Cent Term. N Y
do
do
do
do Comm’l Trust Co, Phila
Fidelity Trust Co. Phila
Farmers’ L & Tr Co. N Y
________
100
See text
Apr 1 1918, I X
1 ,0 0 0 &o
4 A g A A O Apr 1 1956
April 1919 coupon unpaid
1 .0 0 0
700,000 ...........
Jan 2 1919
100 35,000.000 See text
Q— J Jan 2 '19 2J^%
1 ,0 0 0 fee.
5 g J & .T Jan 1966
Treas office 165 B'way
1 0 0 &c 39,416,000
M & S Sept 1 1921
7 g
New York City
100
See text
100
Jan 2 1913 4%
500 &c
M a ‘ N Nov 1 1919
8 g
Equitable Tr" Co. ' n y "“
1 .0 0 0
7
M A N May 1 1920
Office. 165 B'way, N Y
l .0 0 0 &c
6
M & N Nov J 1919
Central-Un
Tr Co, N Y
$ £ tr
F A A Aug 11941
Aug 1914 coup not paid
1 .0 0 0
S‘
F A A Aug 1 1914
Aug
1914
coup
1 .0 0 0
5g
F & A Aug '19-Aug '23 Blair & C o. N Y not paid
1 .0 0 0
543,000
6
J & J July '19-Jan '26 First Tr & Sav Bk, Chic
31 1917.
None
1906
1916
1913
1918
1879
1880
1918
1911
1911
1913
1916
x Includes $3.251.000 (face value) held alive In slnkl ng fun d Dec.
p Further $12,150,000 pledged is part security for note is sue.
/tr vibr
•'so.uuu.uuu, ot wmen jn . y . central and Mich. Central
(Y. 106, p. 2018), which guarantee the bonds, own 60% and O. M . & St. P
and Chic. & Northw., 40% . V.
n m a - v me - o i m
.
($25,000,000 auth. issue) ^$2,500,000 aro resorvod’ to retfre Chic M l am” '&
'' *
UU.J wuw,
/O LVLA tu duly iyj then 4% .
V. 8 6 , p. 108. Duo for advances Dec. 31 1917, $3,857,082.
E A R N IN G S — For cal. year 1918, gross, $5,591,235; net, after taxes
def., $928,645. In 1917 ev m « r, oaao\
. A ___ ’ » net, after taxos, $890,182, uvuc, luwmu, (jiuu.i-w, imerusc, rentals,
VAlUiSU.lUUi
•» UOl.,
6 .MOl. . V
XU13 UOllUb
US Iboon paid
__ by owning
S2.020.106; ba!..
def.. 'Jl.W
$1,029,781.
(This
deficit IK
has
companies proportionately to their stock holdings.) Gen Mgr under
U. S. Govt., George Ilannauer, Gibson, Ind.-— (V. 106 p 2123 9 4 4 9
V. 107, p . 603, 696, 1003; V. 108. p . 268.)
*1
2442
★ INDIANAPOLIS UNION R Y .— Owns 1.23 m . o f road, 1.15 m 2d main
track and 4.15 m . yard tracks and sidings, with terminals at Indi'ananolls
Ind.; leases for 999 years the Bolt RR. of Indianapolis— 1 4 is m (whtchm o
Cleve Cine. Chic. & St. Louis the Pittsburgh Cincinnati Chicago & St
Louis RR. are virtual proprietors, having invested in it $1 OR? 4 7 9
to Dec. 31 1917. No stocic outstanding. Ellvation of tracks la m S g r a
BONDS.— The General and Ref. M . o f 1 9 1 5 will secure not over -tin '
0 0 0 .0 0 0 50-ycar bonds, to bear rates of Interest as may bo hereafter deter
mined, to bo guaranteed Jointly and severally, prim and lnt
bv the
companies above named; a sufficient amount Is reserved toredoem the
4Ms o f 1886, and remainder for future purposes
The g .^ n t n S
companies and also the Lake Erie & Western R R 0 Cincinnati ?ndKn™r
oils & Western. Chicago Indianapolis & Loukville Ry ancrilllnolJ n ^ *
tral RR. have contracted to use the property p^'petually as th°„h
main passenger terminal, and to pay each itsp rop er and detonated
proportion o f the interest on present or future values and n f i n v hmrt
issued for additions to or improvements o f the property
The bond/*™ m
deemable as a whole or In series 15 years after date oranv lnt
twSJTr"
ter at 103; sink, fund beginning,1928. 1% o t o a t e M
chased to be canceled; Farmers Loan & Tr. Co N Y and TTninn'N m .
Co., Indianapolis, trustees. V. 10(), p . 1257. 655- v l'm h 1 2 7 9 rm st
Fed. M gr., E. M . Costin, Cincinnati. O.— (V. 107 n .b 0 5 )
ZATICH^-^^^oldhig compmiyVformed ^ n 5 ? r ^ P ^ "^ X v l? J u n e ^ l? 15^by
plan in V. 100, p. 1437. 1510. 1751, 1917.
18 2 1 9 1 5 by
Owns $33,912,800 of the $35,000,000 stock of the Interborough Ranid
Transit Co. and $15,276,500 of the $17,495,060 sto ck V th e New^ York Rvs
Interborough Rapid Transit C o., subways, &c. (see that co 1 146 26 miTes
Elevated (Manhattan Railway, lea sed )...
'
inauco.j_.i4B .26 m les
Surfaoo lines owned or controlled by Tnterb. R ap."Tran'*Co 141 0 7 miles
New York Railways (see V. 108, p. 677) Juno 30 1 9 1 8 -._ ..\ l 5 1 0 2 miles
RECEIVE RS1111*. James R . Sheffield of N . Y . was made receiver on
Mar. 21 1919, owing to the default on the bonds which resulted frorn^hn
f S agV Of108VSnil6 5 n the R ‘ T ' ° ° ’s stock Pledged to secure the bond
PROTECTIVE COM M ITTEES.—-In Feb 1919 in -intl.-innim,
; ! S i . w t 1 'i 8!“ V 8 ? C
307 l ' ) r 11
,h »
o ^ nC o.,
S rdepositary.
s»% r tM
;s 5p.»878,
.i¥1165
i« s1 3^9 0-r ? ‘ x fy -’ tQuaranty
sssh
Trust
V. 108,
(2) Committee foi
<uul Common stocks* Chnirrmn F urpmo v t>
Thayer; Hoc., Charles B. Makepeace. 115 Broadway N Y with M.^enn
tile Trust & Deposit C o., depositary, v . 108, p. 1275.
’
R-rcan
S T O C K — The preferred stock is prof, as to’ dlvs and assets while
i s i o ^ 7 5 in0t paid’ iS ont *
to double voting rights. V. 100, p. 143 7
D IV ID E N D S.— On prof., 6 % p. a..July 1915 to April 1918. Noneslnco.
BONDS. I ho coil, trust 4
o f 1906 o f the lnt -M et Co are w i m ,i
by pledgo o f $.33,912,800 of the $35,000,000 s t o ck o f Interborough r ESSS
Transit Co., $1,000 in bonds for $500 stock
V 82 n
T .ln ff,
fund was established in 1910, $300,000 to bo appropriated v’earlv onl
surplus income after interest and takestoiDurchaseb on d sat not over
bonds acquired to bo kept alivo in the sinking fund The fund ?t*V*u
mated, will exceed $40,000,000 by 1956
V 9 3 v 066' V o Dec 1V i 101 t
there had been purchased for the sinking fund about 83 251 oriiV A'.!.7,
valuo) o f the $67^825,000 outstanding 4 k I
$3,251,000 (faco
Tlio $2,000,000 loan has been reduced to $700,000. V 106 p 3 9 5
R E P O R T .-F o r ca'endar year'1918, in V. 108. p. 372, showed: ' '
'
Through service to Woodlawn Cemetery was begun April 15 1918 V inn
P. 1037 2011. On July 1 1918 established th ro^ h
on the slv ln th
Ave. subway between T im ^ Sq. and the Battery, and via shuttle through
w°
1 ' an? w^Viam ^iTrl)i^ancb
Hno from Chambers St. and
West Broadway to Wall and William streets; also over the 462d St. elevated
road connection between the Ninth Ave. elovated line and the Jerome Ave
branch of the Lexington Ave. subway as far as 167th St. station on the
foM m sim^" ton i38thn8tUand7Jan? ^ fd ^ ^ o ^ H ^ te ^ P o ln ? Road ^48 VP1 ^)^
In 2A4n7r7ii
1
0
8 t*tUn“ l
™
in Feb °191 o'see’ V .' 1084’pP 68318 ' As
Breatly increasc>d subway service
r r,n^T=i^°Hkn°n
9,ue?n?
R7 " 7 3 miles, and (Jointly with
Long Island R R .) tho N. \ & L. I. fraction Co. and Loner Island Elor
Ry., total, 6 8 miles. V. 80, p. 2621; V. 83, p. 818; V. 8 6 , pfllO O .
'
Outside assets” In Dec. 1917. V. 103, p. 2365.
•
On Mar. 19 1913 an agreement was signed between
Che city and this company (V. 94, p. 1507. 1565: V. 96 d 62 3 59 I 7 m i
n ? ™ * h 1<)k!yn P ai?icl T.ransIt Company, providing for the establishment
of comprehensive dual systems of rapid transit serving all boroughs.
<!ta.t.?JSe n t}°, t.1.le „N»- Y •Stock Exchange, dated June 30 1913,
was published In Chronicle of Aug. 16 1913, pages 450 to 455, giving full
particulars as to new contracts, bonds. &c. See also V. 97, p. 744, 1024.
Lines to be Oper.bg Interborough R. T.Co.
Road Track Track' Total
(Exclusive of Manhattan Rg. and Sidings)— Miles. Subw. Kiev. Track
Company s original lines .................................... 25.7
56.1 16 9
73 0
New, to be built Jointly by city and company. 48.5
75.6 7 1 . 5
1 4 7 .1
Total — — ______
74.2
1317 8 8 4
220 1
Status of construction on dual system in Jan. 1919, V. 107, p. 74, 172.'
mms
for contractors and completion of lines see V. 106. p. 1126’, 1344.
' VEk15' 2009, 2098, 2290. Strike, V. 106, p. 2649. 2651.
The Brooklyn Rapid Iransit Co. on Jan. 5 1918 started service on Broad
way between Times Sq. and Whitehall St.
° Q
Subway Leases, New and Old. to Run 49 Years—Re-Capture.
b y *be ?,ty tbe company of the new subways is for 4 9 years
rkno i f “/h i i 917, but
their completion should be delayed through no
fault of the company, the beginning of the term will be correspondingly
postponj^i ^ b je ct. however, to the city's right of re-capture after 10 years.
i0f th^ original subways as modified expire contemporanoh r / n S ? . . ? ! Iease of the new subways, but are not subject to termination
by notice except as portions thereof may be taken over In substitution
i 7tb. AXe ' brancb or the Lexington Ave. branch of the new sub
ways In order to complete a direct longitudinal line, either upon the East
Side or upon the \Vest Side o f the city. As to the old contracts. Nos. 1 and
2, ace this Section, issue of Feb. 1913 and V. 96. p. 1701
authorizations and licenses for the elevated railway extensions and
additional tracks are for 85 years from tbe beginning of operation, and are
respectively subject to the right of the city to purchase and take the prop
erty at any time after 10 years upon payment therefor
pooling agreement with the city which became effective
Jan. 1 1919, all tho receipts of the old and new lines of the Interborough
system, with tho exception of the old elevated lines, will be placed in a com
mon pool, from which will be deducted taxes, maintenance, operating ex
penses, depreciation, the company's preferential and interest and sinking
und payments upon the city s and the company’s investments in the new
After those charges are paid the amount of revenue remaining will be
divided equally between the city and the company. V. 107, p. 50lT 401.
Interest on the securities issued to construct and equip the new lines Ls
a charge to construction until, and to the extent of, the completion and
commencement of operation of the new lines. Under its contracts with
the mty the company was reported in Jan. 1919 to be entitled to take, on
basis or convertible note issue of 1918, out of tbe revenues of the Interbor
ough Rapid Transit system, an annual sum which, with .$500,000 other cor
porate income, will provide $17,620,072, as compared with S13.101 255
required for interest and sinking fund on all bonds and notes outstanding
in the hands of the public; but In Jan. 1919 not over $9,700,000 of the sum
t‘mtnnamPcl was expected to bo a charge against the earnings of the year
a nTho
d Vamounts
io sfp °m
.stev ? fo T K oo ncwllncs,noperatIon- Secbelow
payable to the company out of the revenues o f its subwavs
(compound interest being allowable on any deficiency in any fiscal year)
aro to bo paid before the city becomes entitled to the interest on its invest
ment under its 1 9 1 3 subway contract with the company. The amounts
payable to the company out of tho revenues of its elevated lines (compound
nterest being allowable on any deficiency in any fiscal year) are^ to be paid
before tao city shares any profit from tne operation of the elevated lines
When the profits from the operation of the subway system exceed the
IiiLonIrA14J^sflliosi, 125 1^:052; 1 2 5 1° alanco’ surl>- •
? 38’80G ^ , 4 8 0
amount of the company s annual prior claim, and after all accumulated de
ductions
(with interest thereon) shall have been made up to the company
OFFICERS.— Pres., T . P Shunts; V.-Ps., II. II. Vreeland, E. Mora
tlio profits then remaining are to go to the city until the percentage of the
Davison, D. W .R oss. Sec., II M . Fisher; Treas., J. H. Campbell. Office
city s return upon its investment shall equal the percentage of the return
165 Broadway, N. Y .— (V. 107, p. 1287; V. 108, p. 372, 878.
received by the company; and thereafter excess profits will be divided
INI OR BOROUGH RAPID TRANSIT CO,— (AVcAlup.)— Incornorate.i equally between the city and the company. The profits from tho elevated
system
and connections, after all the company's accumulations shall have
ru?v-C
i190?
In
N
nm/rrn,wnin
unlclPal
tunnel
and
elovated
lines
in
N.
Y.
City, also leases Manhattan (KlevatecI) R y., which see.
arTe t0™be dI,v,1<ied equally between the city and the company.
Mileage in Operation June 30—
-Lena.......... '
~ • • -■ - —
CONTROL.— In Deq. 1907 *33,912.800 of the *35i000.000 stock bad
(Description newlines, V. 107,p. 1284) 1918
been exohanged for 200% in 4 H % collateral trust bonds ot the Interborough
1917.
1918.
1917.
Original subways, &c-----------------------25.72
25.72
85.29
85.29 Metropolitan Co. (which see above), secured by the stook exchanged
Quoensboro linos___________________ 1 0 .5 3
9.18
28.19
24.74 ai DIV,I^ n N D 3'— „ 19J?7 <0 1910. 1911. 1912. 1913. 1914 to '17. 1918.
Wldto Plains Road--------------------------- 4 .4 0
4.49
13.80
10'A
15
12 20% yrly.
15
13.80 Since 1 9 0 0 ------_ -% _ 9 yearly.
Jeromo Avenue_____________________ 5 . 5 5
3.93
16.90
In July 1918 reduced div. to 2 A % quar. (10% n a ) and in Ort 1Q1 R
12.07
Sovontli Avonuo_____________________ 0 . 4 9
0.49
0.72
0.72 and Jan. 1919 paid at that rate. In Feb. 1919 failed to declare any diviManhattan (ISlov. Ry.) division_____ 37.67
37.67
130.23
129.64 dend for April 1.. See V. 108. n. 878. Seo Gen. Finances below and V.
Two connecting lines________________ o.71
106, p. 2345.
—
1.36
.B O N D S ,-—The “ First and Refunding M ortgago" of 1913 Is limited to
Total (system).................................... 85.16
81.48 276.49
266.26 $300,000,000,
276.49
of which $170,000,000 was underwritten early in 1913.
c a l . Y ears —
lU lo.
Divs . °n I. R.
1.
Capital
Stock---------84.239.100 ^
Other Income.
163,076
1917.
|
io iq
IOther int., &c. $115,215
Taxos
900 099
5
0
0
f und.
300,000
173,3061 Prof. d iv s ..(1^)686,108
1 01 7
$110,307
229,494
„ 300,000
2,744,430
r^gcNwiic*.
~VARtC^.^?^
iadway
fTMOTT]
- AVE.
CL£ l EMQm
PARK^m
JHIRD
CRP
°1 I
.'^Tg*Si)XW
pUlNS
«
BUFFALO AVE.
R A IL W A Y STOCKS A N D BONDS
IN T E R B O R O U G H
,
R A P ID T R A N S I T C O M P A N Y
M A P
S H O W IN G P R E S E N T S U B W A Y A N D
E L E V A T E D L IN E S , A L S O E X T E N S I O N S
S u b w a y S h o w n { ------------------- 1 ™ V < 0 H
*
E levated S h o w n | ........................ under1construction^
IN C O U R S E O F C O N S T R U C T IO N
[V o l . 1 0 8
HOBOKEN
A p r ., 1919. j
★ Control.
Government
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
iFor abbreviations. &c., see notes on first page]
Miles Date
Road Bonds
International Rys o f Cent Amer— Ordinary shares.
Preferred stock 5% and partlo see text_____
Dividend notes__________ _______ _________
do
£1,125,000...............................
v y v w v m i l a w XV* K UAU I d
JMLO b u
XU
*J
L _ I .I I I A
Internat Rys (1st M on 104 miles; 2d on b a l.)...x
First mtg g red 102 H.........................................Em.i
Interoceanic Ry of Mex— 1st pref stk, 6 % non-oum.
Second preferred stock 4% (V 87, p 1160) non-cum
4% debenture stook subj to oall at oar £1.150,000
Ordinary stock________________________
Debenture stook 7% "B ” sub! to oall 120 o u m llll
Second debenture stook red at 105 since 1911
Mex E deb stook !' 150.000 guar red 105 since 1914
Par
Value
$100
100
1917
1919
74 1886
1 ,0 0 0
1 ,0 0 0
1912
1912 £, fr. Ac
Stock
Stook
—
—
Stook
—
£100
£100
£100
—
In Oct. 1918 $160,585,000 was outstanding and a further $52,187,000 had
been pledged to securo the $33,400,000 Thrco-Year Secured Convertible
7% notosduoln 1921. V. 107, p. 1100. See full data, V. 91, p. 1507. 1565:
V. 96, p. 1228; V. 97, p. 450, 1024; V. 98, p. 304. 611, 115?; V. 99. p. 119;
V. 100, p. 2085; V. 104, p. 764. Offering, V. 101, p. 1972; Y. 102, p. 437
V. 103, p. 1592, 1888. Sco Gen. Finances below.
The new bonds bocamo N ov. 1 1913 a first lion on all leasehold and
other rights of the company In (a) the existing subways and elevated lines
(Including power housos, sub-stations, equipment, real estate,&c„ owned
directly by the Interborough Co. subject to the city's rights under the loaso)
and (b) In the new subway and elevated line extensions and In the author
ized additional tracks on the present elevated lines.
Ounf. sinking fund of not less than 1 % yearly o f amount out began
July 1918. Bonds may be drawn for sinking fund at 110, or bought In the
market at a lower price. By the operation of the sinking fund the whole
Issue will be amortized during the term of the lease
In case the city shall exercise Its right o f ro-capturo of any of the new linos
after 10 years from commencement o f operation, the moneys so payable
will retire all outst’g bonds Issued for constructing and equipping same.
i.OOO
due
103%
S $61,687,000 fFirst
c ”A
C£ f Ca™
4 aro'socur'ed'by
of
& Ref.
M . 5% bonds at7 a* *price
o f 64%. TheplVlge
notes
“ mo before maturity (provided notice o f any election
to convert after Aug. 1 1921 be given on or prior to that H.atni i t nnHnn
Sft?
5 8 7 n ?nnniilv 0 nclm»at 8 7 X, % wltli adjustment oflntorcLt
Sinking fund So
15»o70
annually, rho greater part of the proceeds of this
noto issue will bo expended for rolling stock and electrical eniiinment
The first issuo o f these notes was sold in Sept 1918 and agCTe«atedPat nar
$33,400,000. In Nov. 1918 tho company so d the remahdn^86 916 nnn
hnth
H c dSeries
W e i B. V. 1^7°’
^fl^lra^lSSUoi
but <lc^cm
designated
107, p. 1000, 1284, 1747, to
1837.
GENERAL FINANCES.— Tno cost o f tho Interboroueh now suhwavs
elevated extensions and third-tracking, &c., as originally estimated in 1913’
was paid from tho proceeds o f First & Ref bonds o f which $160 585 00(5
are in the hands of the public. Largely as a conlequence o ft o e w a r ' the
cost of completing tho Interborough new rapid transit svstem was approxi
mately $37,640,000 more than tho origina1Pestlmates^^mmleVl913PP
The proceeds Of tho note issue of 1918 was exnect.ed tn enmnlel-n the
company’s contribution to tho cost o f tho Interboroueh new ranuF transit
b“ ,c° mPa"&
S (S o S m S
2
" w S 'A “
payments early in 1919 and this prccipi&
COm' > w - t h 0 I " t “ 1," r o ’ tf!l1 ,:on” 11-
at a cost to company o f $130,000,000, and to city o f $60,000,000.
REPORT.— Year ending Juno 30 1918, V. 107. p. 1284, 1295.
(See also Int. Cons. Co.) l o i T ' m d‘ D^
l~
1J17’
1
2 7 0 ka
1
966 90
Mllos of track Juno 30............... .......
Gross oper. revenue----$19,953,159 Sift fifio niR C/in 4 0 7 7 9 v2 cqq
Vac
Operating e x p en ses.... 12,187:428 * ^ 2 0 ^ ,9 4 9 ^ l l s S
Taxcs............................... 1.820,297
1,893,762
3,758,5832,871,385
Operating income------$5,945,434
$17,625,808 $20,411,468
Other income.............. 303,299 $8,574,30.3
201,001
593,000
559,077
Credits, contract No. 3 . 3,302,983
1,181,013
2,508,508
217,290
Tn? ’0^ 1 V r ftV h n ild s "'
in
t: on 1st & Ref. 5s—
Int.
Sink. fd. 1st & Ref. 5s.
Int. Manhattan Ry. 5s
Other interest, &c------J
Guar. div. Man. Ry.stk.
I. R. T . Co. dividends.
Per cent_______ _____
*10.016,317 $20,727,916 $21,187,841
* 2 .375,715
4,327,177
3,572,515
4,382 A 16
438,821
1,627,300
1.627,360
578,753
309,597
2 , 1 0 0 ,0 0 0
2 , 1 0 0 ,0 0 0
4.200.000
4,200,000
1.750,000
3,500,000
6.125.000
7,000,000
( 6 %)
( l 6 %)
(17H%>
(2 0 %)
, 9 ’6 11’716
6,639,866
Balanco, sur. or def..dof.$878,150 sur.$34,23l sr$l,046,267sr$2,102,654
♦ Credits accru ^ to the company under contract No. 3 and related certlficates which aropayable to the company from future earnings before
tho city participates, see V. 107, p. 1384; V. 108, p. 78.
Passengers Carried and Cross Revenues (in Millions), Juno 30 Years.
n
05.
07. 08. 09. ’ 10. ’ l l . ’ 12. ’ 13. ’ 14. ’ 15. ’ 16. ’ 17. 1918.
Passongers 339 449 483 514 562 578 607 634 651 647 68-1 763
771
G ross------$16
$22$24 $26 $28 $29 $31 $32 $33 $33 $36 $40
$40^
DIRECTORS.—-August Belmont (Chairman), W. Loon Pepponnau.
Guy IB. lr*PP. A- D- JuUllard, A. J. Hemphill, Cornelius Vandorbilt, Ed
ward J . Berwlnd, H . M . Fisher. Theodore P. Shoots, F. de O. Sullivan:
a a a B- i s s r * !>
av“ ib?;pM V !b f ? ; :. ^ 6 8 3 ? l8 7 "
)
•
o m “ ’ “O’
N. Y—
Lines owned—
Miles.
Lines owned (concl.)—
Miles.
Long View Jet., Tex., to Houston 232 Magnolia Park Terminal________ 10
Palestine to Laredo................ ..4 1 3 Sundry branches...............
129
Spring to Ft. Worth, T.AP.Conn.272
Joint Trackage—
Miles.
Houston to East Columbia breh. 60 Galv. Houston A Henderson etc. 5 4
Amount
Outstanding
$30,000,000
1 0 .0 0 0 ,0 0 0
1.260,000
2.319.000
3.261.000
£ 1 .0 0 0 ,0 0 0
£1.400,000
£ 1 .0 0 0 ,0 0 0
£1.150,000
£1.700,000
£469,459
£1,300,00
£400,001
Rate
%
When
Payable
APrivate
Control.
Last Dividend Places Where Interest'and
and Maturity
Dividends are Payable
See text
A u g l5 ’ 14 1K %
& A Feb 15 1927
1929
g
& O Apr 11931
2 to 5
& J Jan 1 1972
. 5 K M A N May 1 1972
4 In 1913
Dec 19 1913 4%
Nov 14 1912 2%
M A S 15 Sept 15 1950
0
6
6
F
7
’ l l - '1 2 Sept 15 1950
M A N 30 Nov 30 1950
J A D 15 Jan 1 1984
I*
67
Office. 17 Battery PI. NY
Office. 17 Battery PI. NY
do
do
EmplreTrCo.NY.Lon. Ac
London
do
do
See text
London
See text
See text
FEDERAL CONTROL.— In 1918 the road was split up by the Federal
Management, the lino from Spring to Fort Worth and branches thereon
being in charge of J. S. Pyeatt, Federal Manager, Dallas, AV. E. Maxson.
Gen. M gr., Galveston. The balance is under control of J. L. Lancaster,
Federal Manager at Dallas, A. G. Whittington, Gen. M gr., Houston.
ORGANIZATION.— Incorporated in Texas on Aug. 10 1911 and
succeeded the Int. A Great Nor. RR. foreclosed June 13 1911, per plan In
V. 92, p. 1310. The I. A G. N. Holding Corporation was Incorporated In
Virginia In Nov. 1911 with $6,500,000 capital stock, and owns the common
stock of the railway. See V. 93. p. 1386; V. 95, p. 176. V. 9 2 ,p .l3 l0 .
Receivership.— In 1914 receivers were appointed, both the principal and
interest of the $11,000,000 3-year notes being in default. V. 99, p. 467,
406, 342. Receiver Is James A. Baker, Houston, with Thornwell Fay
as Assistant.
The $1,400,000 6 % one-year receiver’s certificates, due N ov. 11918, were
reissued and sold to the Director-General o f Railroads, same being due
Nov. 1 1919. bearing 6 % interest (M . & N .) at Central Union Trust Co.
of N . Y . V. 105, p. 2272; V. 102, p. 1623; V. 100. p. 1510, 1592.
Protective Committee for Cold Notes.— Alexander J. Hemphill, chairman;
Wm. O. Cox, Secretary; Guaranty Trust C o., N. Y .. depositary. 90% has
been deposited. V. 99. p. 342. 406. 467. 538. 894. 1300. 1451
“ ADVANCES” AND “ STANDARD R E T U R N .” A c.— See page 5.
Government contract not executed; advances to April 1 1919 aggregated
$576,175, all on rental account.
STOCK.—Of the com. stock, $1,422,000 had been Issued June 30 1917,
the remaining $5,078,000 being held for exchange for a Itko amount of con
ditional Interim certificates, if issued, under agreement dated Nov. 1911.
BONDS.—Of the new 1st Ref. M . 30-yr. 5s ($50,000,000 auth.), $12,150.
000 have been pledged as security for the 5% notes due Aug. 1 1914 and $1.
400,000 sold for cash to the syndicate and by It deposited as further security
for said notes (see above). Compare V. 94, p. 350; V. 96. p. 053; V. 99,
p. 209. The secured notes through their collateral covor tho entire prop
erty at (Including underlying bonds) about $20,500 per mile. V. 94. p. 350.
Equip, bonds, V. 97, p. 521, 729. Loans and bills payablo outstanding
Dec. 31 1917. $1,084,665.
EARN ING S.— 12 m os.,/1918.........Gross, $13,476,888; net. $1,833,885
Jan. 1 to Dec. 31.
11917..........Gross, 12,588,224; net, 3,938,230
R E PO RT.— Report for year 1917 in V. 106. p. 2008.
------ Calendar Years------ - — Years end. June 30—
„
,
1917.
1916.
1917.
1916.
Gross earnings................ $12,588,224 $10,766,945 $11,819,828 39,420,291
Net, after taxes................ $3,577,367 $2,559,440 $3,254,324 $1,660,403
Other Income.................. 1.058.815
646.627
891.044
531.142
Gross income.................. $4,636,182 $3,206,067 34.145.303 $2,191,550
Rents, A c------------------- 1,381,711
1,139.136
1,291,031
1.032,641
interest deductions___ a1.557.332 al .5 0 2 .8 9 1 nl .531.681 al .451.980
Balanco..............
sr.»l,697.139 sr .$564,(>40sr.$l ,322,606 dr .$2 9 3 ,0 7 0
a Includes the unpaid annual Interest, $550,000 and $55,400 respectively;
on tho 3-year 5% gold notes and First Ref. Mtgo. 5 s, and also tho (unpaid)
annual Interest. In 1917 $95,619, on tho accumulations of overdue interest
(amounting Dec. 31 1917 to $2,545,708) on thoso Issues, making tho total
unpaid interest so included $701,019.
Directors.— Frank J. Gould (Chairman) and Kingdon Gould. New York;
R . Lancaster Williams, Baltimore, and others. Office, Houston, Tex.
General Mgr. under U. S. Govt., W . E. Maxson, and Federal M gr., J. S.
Pyeatt, Dallas, from Spring to Fort Worth; of other lines, J. L. Lancaster,
Dallas, is Federal Mgr.— (V. 108. p. 268.)
INTERNATIONAL RAILWAYS OF CENTRAL AMERICA.— Owns
638.143 miles of 3-ft. gaugo railway: main line and branches.
•Incorporated in New Jersey June 8 1904 as Guatemala Ry., name being
changed In April 1912 and Guatemala Central RR. (V 79, p 902, 903)
taken over. For concessions and subsidy, seo Issue for Feb. 1918.
Stock authorized, as increased from J7.500.000 in April 1912, J30.000.000
common and 510,000,000 5% pref.: par 5100. Pref. Is entitled to share
equally in all dividends paid In any year after 5% has been paid on both
stocks. V. 95, p. 544. First quar. dlv. on pref.. I H % . paid Aug. 15 1912:
Nov. 15. 1K %; 1913,5% : 1914, Feb.. May A Aug. 15, l t f % . On Feb. 15
1911 provision was made for the payment of ail dividends due to that date
(1214%) with $1,250,000 6 % dlv. notes due Feb. 15 1927. V. 107, p. 398.
In Mar. 1919 the company was about to issuo to holders of preferred
shares 6 % 10-ycar notes in respect of dividends duo Nov. 15 1914 to Feb. 15
1917 incl. The overdue coupons on the 6 % 10-year notes were also to be
paid when tho notes were issued to the holders o f the preferred shares.
V. 108, p. 1060.
BONDS.—For 60-year gold 5s of 1912 (£4,500,000 auth. issue, whloh
m
a
y
1° *0-000.000) see V. 94, p. 1449; V. 96. p. 1488.
The $3,500,000 bonds Issued by the International Rys. covering all lines
as a second Hen boro Interest at 2 % the first year, 3 % the 2 d year. 4 % the
3d year and 5 1_hero,arter; $239,000 purchased and In treas. Doc. 31 1917.
The $2,5W,(W0 Guatemala Central 1st M . 6 s due Apr. 1 1916 were ex
tended till 1931: $181,000 purch. and in treas. Deo. 31 1917.
-Kepor-t for cal. year 1917 in V. 107. p.397. showed: Gross,
$2,554,047; net after taxes. $1,174,919: other Income, $42,295; Int., dis
counts. A c., $640,881; bal., sur., $576,333.
OFFICERS.— Minor O. Keith, New York, President. Pres. Northern
Rys. Co. of Ocata Rica Ylce-Pre*. United Fruit Go.; Henry M . Keith,
N. Y .. Vlce-Pres.: Edward S. Hyde, Sec. A Treas.: H. H. Hanson. Compt.
N. Y . office. 17 Battery Place.— (V. 107. p. 397, 1060.)
, , INTEROCEANIC RY. OF MEXICO. LTD.— Vera Cruz to Mexloo City.
Mex., 338 miles; Los Reyes to Puente do Ixtla, 123 miles; Los Arcos to
Cuautla, 102 m.; 3 branches. 30 m.; Mexican Eastern Ry. (V. 73, p. 1263)
124 miles: leases Mex. Southern R y., 313 miles: total, 1,031 m
C o n c i
sions end Feb. 1982, after which road passes to State at a valuation.
Nat.
° j , M e x l0 0 (which see) owns £1,038.450 of the 2d debentures;
£1,310,500 ordinary and £244.800 pref. stock. About Aug. 15 1 9 1 4 the
Mex Govt took possession
V 100 p 55 Seo Nat Rys of Mexico
In June 1918 property was still operated by Mexican Government.
★ Control.
Government
68
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
[For abbreviations,
see notes on first page]
Miles Date
Road Bonds
Amount
Outstanding
Par
Value
Rate
%
When
Payable
APrlvnte
Control.
Last Dividend
and Maturity
Interstate RR (of Va)— Equip trust sor A due
5 g J A J Jan 1920 to ’23
$150,000
1913
*37.000 or $38,000 yearlv
- - - - - - - ........... PhP
600,000
5 g A & O Apr 1 ’20 to ’27
___
1917
Equip tr ser B due $75,000 yrly call 101--------- PhP
Iowa Central—See Minneapolis A St Louis
500.000
5 g J Sc J July 1 1939
$ 1 ,0 0 0
31 1894
Jacksonville Term— 1st M gold u ----------------Mp.xo
July 1 1967
J A
5
2 , 1 0 0 .0 0 0
1 ,0 0 0
1917
1st & Gen M gold guar p & 1 (end) $3.500.00(L--Jamestown Franklin & C learfield—See New Y ori Oenfc’ l RR
300.000 4M A 6 J A J July ’27-Jan ’29
1 ,0 0 0
8 1867
iefferson— 1st A 2d Ms ext In ’87 A '89 (H’dale Br)..<
2,800,000
5A e A Sc O Apr 1 1929
1 ,0 0 0
37 1889
1st M g ext 1903 & again 1919 red 105 gu p & lFP.o'
5 g M A s Sept 1 1925
724,000
1 .0 0 0
96 1905
Jonesboro Lake City & Eastern— 1 st M |1,000,000 .2
650,000
■
iA e M A N May l 1940
1
,0
0
0
1910
Joplin Union Sta— 1st M gu J’tly red 105 aft 5 yxsxo
Junction (Philadelphia)— See Pennsylvania RR
A A O Apr 1 1948
485.000
1 ,0 0 0
1908
Kanawha B'ge &T Co— 1st M g redlOo beg 16 sf FP -2
Quar. Dec 31’18 1A %
9,000,000 5 ln8l§18
100
Kanawha St Mich—Stock $10,000,000------------ - — •
A
A O Apr 11990
4
g
2.469.000
1 ,0 0 0
164 1890
5 K J A J July 1 1927
2,500.000
1 .0 0 0
1907
Second rntge $2,500,000 auth gold red p a r ., dxo
J
A J July'19-July ’22
420.000
4H
S
1
,0
0
0
1912
Ruulpment e $60,000 s-ared par (V.94, p. 1695) Un--.:
060.000
4H g J A J July'19-July '24
* ----- 1914
do
g $60,000 s-a red par (V 99, p 3 4 2 )..Ui
Controlled Company—
J A J July 1 1955
5g
1,477.000
1 .0 0 0
38 1905
Kanawha & West Va— First M g see t e x t ------- c
Kansas City Belt—See Kan City Terminal Ry
A A o Oot 1 1925
SB
3,274.000
1
,0
0
0
162
1885
Kansas City Clinton & Spring— 1st M g guar..N B,x
Kansas City Fort Scott & Memphis Ry—
A A o Oot 1 1936
4g
1,085 1901 1.000 Ac 25,941.000
F A A Aug 1 1922
5
390,000
1 ,0 0 0
26 1882
M A N May 1 1928
13.736.000
8
1
,0
0
0
715 1888
Sc O Oot 11927
A
l ,608,000
5
1 ,0 0 0
82 1887
A
A O Oot 1 1929
6 g
1 .0 0 0 b2,468,000
3 1889
A s Moh 11934
M
4
3,323.390
o
285 1894
Moh 11934
Sept
1 2 5 ,7 8 0
5
285 1894
Income non-cum. No fixed int coupons._OB.x :
M A s Moll 1 1934
5
5,829.500
500 Ao
285 1894
do
stamped fixed Interest redeemable text- k
A <5o o Oot 1 1922
4e
l.oon
1 ,0 0 0 ,0 0 0
s
39 1902
J Sc J Jan 1 1947
6 g
300.00C
1 ,0 0 0
x
30 1907
M A N May 1 1961
503.000
5g
1 ,0 0 0
56 ran
K C A M nnge g S 18.000 p m red 107 H sf-.M St.xo'*
a s City F S A Memphis
i Mem phis
A A O 30 Apr 30 1910
6 g
5.640.200
1914
C
----2 fund1
?
Excludes $532,000 held alive In
b
SECU RITIES.—The dobeu. stockholders In 1914 approved a plan (V.9Q,
p. 48, 674) for deferring interest payments and in 1917 extended the mora
torium for a further three years from M ay 29. V. 101, p. 130; V . 104,p.2343.
D IV ID E N D S on 1st prof., 4V$% 1908 and 1909, 6 % 1910 and 1911
5 % each (M . & N .).
In 1912, N ov.. 5% : 1913. Dec., 4 % . On 2d p ref..
1% 1909; N ov. 1910. 4% ; N ov. 1911, 4% : N ov. 1913. 2% : 1913. none
RE PO RT.— For 1912-13 In V 97, p. 1895. V. 100, p. 55.
N . Y. office, 25 Broad St.— (V. 104, p. 2343.)
* INTERSTATE R R . (OF VA.)— Seo page 132.
.
★ JACKSONVILLE TERMINAL RY.— Owns union passenger depots
6 locomotives, Ao., at Jacksonville, Fla., Including 31.16 miles of iraok
used by Atl. Coast Line R R .. Seaboard Air Line, Florida East Coast
R y.. Southern Ry. and Georgia Sou. A Florida R y., which own entire
stock (8375,200). Plans for now passenger terminal, to cost about $2 ,0 0 0 ,
000, were accepted In Aug. 1916. The Atl. Coast Lino, Seaboard Air Line
and Fla. East Coast each guarantee A and tho Southern Ry. and Ga. 8 0 . &
Fla. each Vi o f the Int. under the rentals and meet expenses on wlieelago
basis, tho Atl. Coast Line, Seaboard Air Line and Fla. East Coast R y. guar
anteeing by endorsement the prin. and Int. of the 1st Mtge. bonds and also
the bonds of 1917 below described. Loans and bills payable outstanding
D T h esis!9* Gem “ Mtgo.. dated Jan. 1 1917. authorizes the Issuance Of
$3,600,000 of bonds. $500,000 to bo used to retire tho 1 st mtge. bonds,
balance for construction of new stations, &c. $ 1 0 0 ,0 0 0 1st mtge. bonds
retired during year and similar units of 1st & Gen. Mtge. bonds Issued In
place thereof. $2 ,0 0 0 ,0 0 0 of tho now bonds also wore sold during year and
*5001)00 are held by the trustees. $2,600,000 total issue to Dec. 31 1917
held by Atl. Coast Lino RR. Oo. As to guaranty, seo abovo. V. 71, p 135.
★ JEFFERSON RR.— Owns Lanesboro, Pa., to Carbondale, Pa., 3 7 mil os
aoublo track; branch. West Hawley, Pa., to Honesdalo, Pa., 8 miles. Leased
In perpetuity tor $154,940 per annum to Erie R R .. owner of ($2,095.700) stock. Used by D. & II. to reach Carbondale. Tho $2,800,000 5%
bonds duo in 1919 were extended 10 years at 5>3%. See V. 108, p. 1165.
A JONESBORO LAKE C ITY & EASTERN R R .— See page 132.
★ JOPLIN UNION DEPOT CO.— Owns union freight and passenger station
on 26 aores at Joplin, Mo., completed In 1911, used by the AtchlsonTopeka
★ Santa Fe, Kansas City Southern, Missouri Kansas & Texas and Missouri
& North Arkansas, whloli Jointly own the 540.000 stock and jointly
and severally sruacantee tho bonds, priu. an& Int. Of the bonds ($750.UuU
auth.), $650,000 sold. Total stock auth., $750,000. Federal M gr.,
j . A. Edson, Kansas City, M o.— (V. 90, p. 502, 627; V. 107, p. 802.)
Dividends are Payable
do
N Y
do
do
Scranton (Pa) Trust Oo
Boston, OldOolonyTrO o
Bankers Trust Co, N Y
Old Colony Tr Co, Boston
Bank Trust, N Y ; 4 Bost
Old Colony Tr Co, Boston
Bank Tr Co. N Y ; 4 Bost
Old Colony Trust Co
do
do
do
do
Bankers Trust Co
July 1915 coup not paid
Nov 1914 coup not paid
Prin. & int. over-due.
controlling interost in stock o f the Kansas City Memphis & Blrm. R R ..
owning line from MemDhls. Tenn.. to Birmingham, Ala., with branch, 290
mlle3 , and of Kansas City A Memphis R y. A Bridge Co., owning bridge
aoross Mississippi River at Memphis. 3 miles. Total. 1.215 miles.
Tho K . O. Memphis & Birmingham was leased Dec. 17 1903 for 99 years
from Jan. 1 1901, out tormlnablo upon 6 months’ notice from either party;
rental Is not oarnings, after paymont of intorost on bonds, taxos, organiza
tion expens03 and cost of additions and betterments. This superseded the
old traffic contract. Kansas City Fort Scott & Memphis R y. owns entire
capital stock (V. 103, p. 2340.)
ORGANIZATION.— V. 72. p. 1237. See V. 72. p. 438. 532, 675,_ 988.
The St.L. & San Fran. R R . owned the entire stock and leased the road, guar
anteeing the bonds of 1901, prin. and Int., and 4% on pref. stock trust certs.
The reorganization by which the St. Louls-San Francisco R y. Co. was
formed (V. 102, p. 896) loft undisturbed the lease and outstanding bonds
of this system. Provisions In tho new Frisco mortgages allow that company
to make Improvements, extensions, &c., on the Kansas City Fort Scott
& Memphis Railway system and buy equipment and deal with obliga
tions of the system, and for theso purposos to Issue aud renew bonds un
der any existing mortgago of tills system, and to issue new bonds of this
company, or of tho now Frisco Company, secured on this systom, or any
part thereof. In jpriorlty to the existing lease of this system aud to any
len of the new Frisco mortgages on this system, but tho aggregate prior
mtge. debt on this system must not at any time exceed $7 5 ,0 0 0 ,0 0 0 .
STOCK.— Common, authorized, $45,000,000; outstanding, $16,660,000
all owned by St. Louls-San Francisco Ry. and plodged under Its mortgage
of 1916 along with $7,756,700 o f the pref. stock. The remainder of tho
$15,000,000 pref. shares (par $ 1 0 0 ) is deposited in escrow, and against,
t are outstanding trust certificates of the old St. L. & San F. R R ., tho
latter having resorved the option to retire the certificates at any tlmo at par,
and obligating Itself to pay off the whole Issue In 20 years from date (Oct.
1901). and meanwhllo to pay quar. 1% thereon (V. 72, n. 1238). In the
Frisco reorganization in 1916 the holders of $7,7*56,700 or the trust ccrtlficates (original Issue $15,000,000) surrendered the same In exchange for
75% in the Prior Hon Series A 4% bonds and 25% in the Cum. Adjust.
6 % bonds of tho now St. Louls-San Francisco R y.
(See V. 103, p. 897.)
BONDS.— Of tho Ref. bonds o f 1901 ($60,000,000). $26,835,000 wero out
standing Feb. 1918, $106,000 were in treasury, $26,324,270 wero reserved
for exchange against the face amount of underlying bonds and romalnlng
$7,734,730, as well as any bonds not used or required for refunding purposos,
are reserved for Issue for additional lines and extensions, at not exceeding
322.500 per mile theroof. As to guaranty, seo “ organization,” above.
V. 75, p. 853. See V. 87, p. 414; V. 91, p. 38, 154: V . 92, p. 1311; V. 93
★ KANAWHA BRIDQE & TERMINAL CO.— Owns bridge across the Great
Kanawha River near Charleston. W. Va., used for railway, street railway
and general traffic. Stock, $400,000, owned by Chea. & Ohio, which op
erates property. Bonds, see table and V. 91, p. 1629. Year 191o-16
gross, *46,629; net inc., *40,745; int. & taxes. $30,574; bal., *10,171.
★ KANAWHA & MICH 10 AN R Y — (See Map N Y . Central R.K.)—
Owns Corning, O., to Gauloy, on Ghos. & Ohio, 176 miles, loss 18 miles,
Pomeroy to Galllpolls, and I mile, Athens to Armltago, whoro Hocking
Valley Ry. tracks are used. Also owns branch o f 11 miles leased to Zanes
ville & Western Ry. In 1917 arranged to loan $300,000 to Gauloy & East
ern Ry. (a subsidiary). In 1918 built from Gauloy Bridge, W . Va., to
Belva. 5.60 miles. V. 106, p. 2221; V. 105, p. 1522.
T o bee. 31 1917 had purchased $1,349,200 of tho $1,359,600 capital stock
and In Oct. 1916 had agreed to assume the $1,477,000 bonds and the $119,
000 Car Tr. Otfs. of Kan. & W. Va. R R ., a line extending from Charles
ton, W. Va., to Blakely, 33 ra., with branch 4 m. V. 10b, p. 2221; V. 103,
p. 844: V. 104, p. 2005.
HISTORY. Ao.— Reorg. In April 1890 of K. A O. R y. foreclosed (soft
V. 60. p. 451.483). Toledo & Ohio Contral Ry. (V. 100, p. 1251) acqulriKi
In 1915 $8,947,800 of the $9,000,000 capital stock. V. 105, p. 818, 998
V. 99. p. 1052: V. 98. p. 912. 1537; V. 96. n. 63.
“ ADVANCES” AND “ STANDARD RE TU R N ,’ Sea.— See page 5.
Annual compensation under Govt, operation, SI,295,141; Kan. & W. va
(additional), $45,260.
D IV ID E N D S—
1911. 1912. 1913. 1914 fo Dec. 31 1918.)
P e rce n t____- ________ - ____
614
5
6
6 p. a .(1)4 Q.-J. 30
EARN IN G S.— 12 mos., (1918.-.G ross, $5,896,134; net (after$l,689,015
Jan. 1 to Dec. 31.
U 917---G ross, 3,606,991; taxes), 1,063,865
REPO RT.— Report for year ending Dec. 31 1917. see V. 106, p. 2005
Year—
Cross.
Net.
Other Inc. Int., &c. Dies.(5% ) Balance.
1917____ $3,600,991 $783,457 $687,900 $312,580 3450.000 5708.777
1916____ 3,527.861 980,859
552.050
335,543
450.000
747.365
1915____ 3,139,104 931,677
225,242
351.842
450,000 355.077
Pres., W . K. Vanderbilt Jr.; Gen. Mgr. under U. S. Govt., F. B. She!
don, Columbus, O.— (V. 106, p. 2757.)
★ KANSAS C ITY CLINTON & SPRINGFIELD R Y .— Owns from
Olathe Kan. to Ash Grovo M o. 154 miles; Itaymoro Jet. to Pleasant
Hill, M o.. 8 m.; total, 162 miles. V. 107, p. 2476. Stock, $1,775,400.
Bonds wero guaranteed by the Kan. City Ft. Scott & Mem. R R . (old co.)
The interest that accumulated during the St. Louis & San Francisco re
ceivership was all paid up In Dec. 19i6 and coupons regularly mot since
that time. See K. C. Ft. Scott & Memphis Ry. below. Year ond. June 30
1916, gross, $349,940: net, $22,931; other income, $3,799: int. on bonds
$163,700; taxos, $22,000: bal., def., $162,237. For cal. year 1917. gross
$355,008; net, after taxes. 815,397. Pres., H. N . McDaniel; Sec.-Trcas.
S. E. Trimble. Federal M gr., J. S. Pyeatt, St. Louis, M o.— (V. 108, p
1273.)
★ KANSAS C ITY FORT SCOTT & MEA1PHIS R Y .— Operates Kansas
C ity, M o ., to Memphis, Tenn., and branches, 922 miles. Also has a
[V ol . 108.
P In 1918°the1K . o'. Ft. Scott A Mem. Ry. had guaranteed the int. on all
except 5195.780 of the 56,322.780 K O. Mem. A Blrm Income bonds.
On M ay 20 1918 holdors of tlioso unguaranteed incomes rocelved on account
of coupon due Sept. 1 1916 1.198% and on coupon duo Sept. 1 1917 5% .
V. 106, p. 2229. V. 74, p. 477, 577: V. 103, p. 2340. As to IC. C. Mem.
Ry. & Bridge, see V. 78, p. 1549; V. 99, p. 1597; V. 102, p. 800.
Birmingham Bell bonds are guaranteed, principal and interest. Jointly by
Kansas City Memphis A Blrm. and St. L. A San Fran. V. 75, p. 1147.
EARNINGS.— For year ending June 30 1916. grow, $13,018,298; not.
$4,041,987; other income, $442,979; fixed charges, $3,719,374: pref. diva.
(4% ). $600,000; bal.. sur.. $165,410. In 1914-15. gross $12,780,120:
net, $3,861,612.— (V. 106, p. 818, 1227, 2229; V. 107, i>. 2476.)
A KANSAS CITY & MEMPHIS RY.— Rogers to Slloam Springs, Ark.. 30
miles; Freeman to Monte No, 6 m.; Cave Spring to Fayetteville, Ark.. 20
m.. total. 6 6 miles. Absorbed the Ark. Okla. & West. UR. and Monte Ne
881, 1109; V. 94. p.
n. 207 *10l).()OU
$100,000 rrecelvor s
Ry. In April 1911. V. 92. p. 881.
■
■ •
-- •
- - -— —
,i-—■— * of
9 .-'.i-*,
-yoar, dated
certificates
have
been
authorized,
which Jonnnn
$80,000 /no/
(6 % 33-yoa
'
s were ap
Jan. 1 1916), Issued to May 31 1916. V. 102. p. 800. Receivers
______
_ _______
and
pointed In July 1914. They are
now_ ____
J. E.______
Felkor of
Rogers, Ark.,
A
Kr
'*
Iff rLittle
1**1^ Rock’.
r\r*\r The IInterest
n
000 hnnik
11 July 1
tT o . T
Bright
of
on 15^00
$300,000
bonds (1
due
1914 is in default; floating dobt was about $90,000. In Oct. 1918 was
bid In at foreclosure salo for $275,000 by tho Quinn commlttoo, bolow
mentioned. V. 107, p. 1579, 1670.
Loans and bills payable Oct. 1 1917, $82,000.
Committee for Ark. Okla. A West, lsf 6 s.— Francis X . Quinn. Chairman;
Byron A. Milner. Secretary; Real Estate Trust C o.. Phlla.. depositary.
Nearly all tho bonds deposited. V. 99, p. 467, 816.
. Committee for 5s of 1911- Soe F. J. Llsman & C o.. N. Y . See V. 92.
p. 881. 1109; V. 102. p. 800.
EARNINGS.— Year ending Juno 30 1916, gross, $81,081; not, $3,126;
other Income, $15; Int., taxes, A c., $22,643: bal., def.. $19,502*
N . Y . officii. 30 Broad St.— (V. 106. p. 1577; V. 107. p. 1670.)
★ (THE) KANSAS CITY MEXICO & ORIENT R R .— Road.
Owned (incl.'K. O. M . & O. Ry. of Texas, 478 m.. Securities Owned), Mites.
Wlohlta, Kan., to Alpine, Tex. (except traokago St. Louis A San
Francisco R R .. Foley to Ewing. Okla., 12.73 m iles....................... 737.87
Marquez, Mex., to T o b a la o p a .............. .
.....................86.77
Mlnaca to Sanchez. Mex. (74.28 m .); El Fuerte to Topolobampo.
62.23 miles)................................- - ........................................................136.51
Mochls, Mex., to Moohls Junotlon. Mex-----------------------------------------2.92
ORGANIZATION.— In April 1917 W . T . Kemper of Kansas City was
appointed receiver. V. 104, p. 1591; V. 103, p. 1508, 1301; V. 99, p. 119;
V. 98 p 1920. In August 1918 tho U. S. R R . Administration was operat
ing the American linos and W. T. Kemper and S. W. ltldor as receivers wero
operating (in part intormlttontly) tho 230 milos of road in Mexico.
The company has signed the operating contract with tho G ovt., fixing
the annual compensation at $150,000. V. 108, p. 1610.
,
i
Tho U. S. RR. Admin, from July 1 to Doc. 31 1918 advanced tho com
pany $700,000. V. 107, p. 1344; V. 108, p. 268.
A p r ., 1919.] *g»SST“ *
APrivate
Control.
RAILWAY STOCKS AND BONDS
R A IL R O A D C O M P A N IE S
[F o r abbreviations, & c ., see notes on fir s t page ]
Miles Date
Road Bonds
Par
Value
Amount
Outstanding
Rate
%
When
Payable
L a st D ivid en d
and M a tu r ity
69
Places W h ere Interest and
D ividen d s are P a y a b le
Kansas C^Outef)Belt & Elec— Stock (half 4% pref)
$100 $5,000,000 v. t. c.
8 1903
1,000
1.288.000
4 g A Sc O Apr 1 1953
Oct 1911 coup last paid
Ry be low.
Kansas City St Joseph & Council Bluffs— See Chicago Burlln gton &
Kansas City Shrcvep & Gulf Term— 1st M red 105 __2,
1897 <w,na
150,000
4
F
S
c
A
Aug
11927
Treas Off, Kan City, Mo
Kansas City Southern— Common stock $30,000,000-.
1 0 0 29,959.900
Preferrcd stock 4% non-cum 521,000,0001 0 0 21.000,000 4 in 1918
Q—J Apr 15 1919 1% Checks mailed
old_
1900 1,000 &c 30,000,000
3
g
A & O Apr 11950
New York Trust Co, N Y
Ref andlmpt M 521,000,000 gold red 105lxo»&r.N
__ 1909 1,000 &c 18.000.000
5 g J & J Apr 1 1950
do
do
Equip notes g ser D due $02,000 s-a red par__Nx
. . . 1912
1 .0 0 0
682,000
5 g J & D 15 June119-Dec ’24 Blair & Co, New York
Kansas City Term Ry— Stock auth $50,000.000___
2.200.000
1st M red aa a whole on or aft Jau 1930 at 105 Sc Int *
__ 1910 I.ddo&c x33.092.000 ■ 4 g J & j Jan 1 i960
N Y Boston Sc Chicago
Secured gold notes $2,500,000 call 101.........CeC.c*
__ 1916
1 .0 0 0
2,500.009
4>4 g J & J July 1 1921
New York and Chicago
Sec gold notes $9,850,000 call at 101 & intCC.vc*&r
M & N 15 Nov 15 1923
— 1918 1.000 See 9.850.000
New York and Chicago
Purchase Money Mortgago notes______
1,115,7.53
5S
Kansas City Viaduct & Term— 1st M g s I (text)"o*&t
1905
1.000 3.302.000 • 4M J & J
see text
Ken&Ind. Term RR— 1st M guar (see text) O.xo’ &r
__ 1911
£100 £1.351.000
4H g J & J
1 1961
J P M & C o, N Y&
Keokuk & Des Moines— Preferred stock..
-
162
100 1,524,600 See text See text
First mortgage Interest guaranteed C R I & p '_ "'o *
102 1878
100 &c 2.750,000
5
A & O
1 1923
First Nat Bank. N Y
Keokuk & Ham Bondholders Co— Stock.. .
10 1.000,000
Secured notes callable any Int aato____
. .... 1915
386,000
0
A. & O 1945
Kewaunee Green Bay & Western— First mtge.-'.F'.xc
37 1891
1.000
408,000
5
J & D
Office, 40 Wall St. N Y
Knoxville & Ohio—See Southern Ry.
La Crosse & S E Ry— 1st M $1,000,000 g red 105 _._z
41 1904
1.000
300,000
5g
A & O Oct 1 1944
La Crosse, WIso
* Total issued $50,000,000, of which $16,908,000 pie dged t 0 secur e notes as of Dec. 31 1917.
aS
Monson (Chairman); Harry
Hoffman, 37 Wall St., Sec.; Columbia Trust C o.. N . Y ., and Glyn,
Mills, Currlo Sc C o., London, depositaries. Of the S21 409 000 In the
Hanf n n « ^ r S ubo n ’n$ 1 9 ,? t ;?’0 M hv d been deposited In June 1914. Chas.
fnYh«
v 7 m2 0
^ * J ’ bR5£ flscal assistants to the committee
in the U.S. V. 94, p. 767, 911,1.^66: V. 97, p. 443: V. 98 n 763 1244 1767
v0T1™ iu CC
J- N. Wallaco and II. B ronne^N . Y.’ City;
Jozach A. Miller, Kansas City; Henry Sanderson o f O D iiarnov
of N. Y.; William J. Gray. Detroit; Herbert F ILdl I* 'W ’ Goebel W S
McLucas and Clifford Histed of Kansas City, and O 5m Sigler 54 Wall St "
N. Y . City, Sec’y. Central Trust Co., N1 V ., and Commerce Trust Co
Kansas City, M o., depositaries. V. 102, p. 1436 ISOR 2166
*'
Plan o f Dec. 8 1915 failed o f adoption. V. 101, p. 2144; V’ . 102,p. 153, 713.
1 91± ^ EST^BA1R^ W « 2 S2 T H ^ | - ^ ross* 32.448,332; net (bef.’def$670,008
lz
in o s ., Jan. 1 to Dec. 31.\1917_Gross, 2.526 123* tn.xps')
141
Annual report. A c.. V. 101, p. 1711 16681886; V. 102, p. 153. ’
Yem-s end. Dec. 31---------- Years end. June 30—
Gross earnings............. $2,526,'l22 $27591 323
t / n m ' , K7
Net after r e n ts........d e f$ 1 0 4 .1 2 7 net$82.218 - S e e ^ .T o i . ^ . ’ m i K a S a n ^ O W a ^ m ^ B n S ; ^ T e ^ m ^ f J - ^ ^ r ^ i d o n t o f tb ^ T e L flln e
A KANSAS C IT Y O U T E R BELT & ELECTPIC P P __Tnrnrn Tnlv 1ft
\^.°75*npR<184aV :.O7^ ^ ^ r3 3 i ai^ O80)1<^trH7!?: beLt Hno;Runcompleted in 1918*
Bigger was appointed receiver.’ In *Nov lQ^ST^OOO1 recefveFs^ertin*
catos wore authorized, o f which $50,000 were i^utvi ^ ^orivlns^frn sa f^ s^
for Juno 18 1918, but postponed: V i06 n 27W V i n f n lsn i
*
i?°l?^ S >*M^feCifc[Trust Co°^len^iVB t'0^'* L^Jlrman^Oalvertt^jrewer,
Sec
V?104," pi 264l!V& 7oT p 2°757TTo8ryp 480102, P’ 7131 V ’ 1 0 3 ’ P’ 234° ’
M T S ? f ^ T ^ s % t T A % e:
★
Fed-
J
h a“ g J i s o n y
K A N SA S CITY SOUTHERN R Y ,— (S66 Mat) )__Onerates a line extend
ingfrom Kansas City, Mo., to Port Arthur Tex thence b t lts sMn canal
7 in., to deep water on Gulf of Mexico, wMi branches and Ltcnslvo term:
Inals used by various roads entering Kansas City.! TotalMileage 830° viz
Karfs/f-f Cltv'e
to Relt Jnn«W<,Vo I„
L in e s O w n ed —
Grah"d T f l i s M° ” t0 Port A"r-7f1J
Quinoy. La. , Fe
t
c
thur, T exas.
------765|rrocfcaoe— To Gr View Mo
M iles.
.
etc
40
13
R vA ’ w X o n ntorH lavene0r0 Ar°uh °,fo8t0?k and bonds ° r Arkansas W estern
any excess of fixed charges. V. 89. p. 1671. Has 154 miles now built
of main and Industrial railroad tracks, 6 local freight stations, passenger
fre’K.b a ?.d switching yards, &c., and union passenger station. V. 107
p. 2008; V. 90. P. 627, 630: V. 91. p. 1386; V. 98. p. 1244: V. 99, p. 1130.
In N ov. 1910 let contracts for $3,000,000 double-decked viaduct over
Kaw Valley bottoms to connect with (1) Un. Pac. and Oh. R . I & P Rvs •
(2) M o. Pac. and Ch. Grt. West. V. 103, p. 1980; V. 106, p. 1126.
”
Of the lst 4s (550,000,000 auth.), $16,908,000 are pledged to secure notes;
Yr- 28’ p ‘ ?27; V. 91, p. 1386; V. 92, p. 395; V. 93, p. 164; V. 96. p. 135. 202:
V. 98, p. I244; J316; V. 100, p. 73^; V. 106, p. 296; V. 107, p. 2008.
In Nov. 1918 sold (V. 107, p. 1920, 2008), $9,850,000 Five-Year 6%
Secured Gold Notes in order to retire $9,625,000 notes, maturing on or
before Nov. 30 1918. As security for this new issue there are pledged at
about 71 H % , $13,783,000 First M tgo. 4% gold bonds, duo Jan. 1 I960.
These notes are callable as a whole or In amounts of not less than $1,000,000
'«oaCn?i
? n 30 days notice at 101 and Int. In July 1916 there were sold
500,000
5-year 4 H % not®? secured by $3,125,000 1st M . 4s, to retire
$2,500,000 Kansas City Belt R y. 1st 6s, clue July 1 1916. V. 102, p. 2254.
EARNINGS.— For cal. year 1918 showed gross earnings, $1,247,830:
net, after taxes, def., $89,891; other income, $2,421,206; bond Int., $1,849.
443; rentals, &c., $177,228; surplus, $304,644. In 1917, gross, $1,131,294;
net, after taxes, $124,402.
Pres., E. F. Swinney; Sec., S. W . Sawyer; Aud., R . O. Ripley. Gen.
M gr. under U. S. Govt., W . M . Corbett.— (Y.107.p.2008; V.108,p.378.)
A KANSAS CITY VIADUCT & TERMINAL RY.— Company owns an
unoperated elevated railway and highway viaduct from Bluff and 6th Sts..
Kansas City, M o., to Minnesota Ave. and 4th St., Kansas City, Kan.,
with branch viaduct to Interlying railroad and manufacturing districts.
Main structure completed 1907,1.6 miles. V. 82. p. 100; V. 84, p. 271,931.
Was sold under foreclosure 1st M . M ay 1 1917. V. 104, p. 1263.
In Nov. 1918 the municipalities of Kansas City, M o., and Kansas City.
Kan., contracted the purchase o f the property for $1,750,000, subject to
ratification by popular vote. V. 108, p. 878.
Protective Committee.— In July 1917 over 98% of the 1st 4H s and Income
bonds had been deposited with a committee consisting of Richard O. Storey
of Boston, Chairman; Equitable Trust Co. of N . Y ., depositary; W . O
Cox. Guar. Trust C o., Sec.— (V. 107, p. 1920; V. 108, p. 878.)
★ KENTUCKY & INDIANA TERMINAL R R .— Owns 2-track steel
s o ^ (L?>ver ° 5 l ° R,lver
Louisville and 10.44 miles main track and
42.43 miles yard tracks and sidings In and about Louisville. Sou. R y. Balti
more & Ohio and Ohio. Ind. Sc Louisv. own the $75,000 capital stock and
under new lease from Jan. 3 1911, pay monthly. In proportion to'cars
handled, any deficit In operations, rentals, taxes and Int. Bonds. £2 000 000 auth. Issue, of whlcn £1.351,000 guar, by the three proprietary cos’
were Issued to retire the $2,136,600 old bonds and for new construction- re^
mainder reserved for future purposes. . No government contract for opera
tion s*Kned as yet, but Government advances to April 1 (being all secured
Y o l . V i f ? 9 ,2 1 4 - 38: v - 92- - • 201 •103*
^ ; S i i i S 7 f vH- ? v “ * l: p ‘.; !20f ; ^ . Y & % T v b ,io45 . T ® 8 j r“ s t o °-★ KEOKUK & DES MOINES RY.— Owns from Keokuk, la., to Des
Sols’ ^ c drsTreveHS
CrT c m ^ ai3 8 om11^ : s T p ^ s l
= a‘S° C° n‘
Moines, la., 162 miles. Leased for 45 years from Oct. 1 1878 to the Chicago
Rook Island & Paclflc R y., the lessee paying25% of the gross earnings and
guaranteeing the Int. (not the prin.) on the bonds. During the receiver
V. 80. p. 1971; V. 81. p. 559; V. 84. p. l m ? y . 8 8 pIlvS'.
’
'
* ship of the O. R. I. & Pac. Ry. from July 1 1915 to June 24 1917, the
payments under the lease were suspended under order of Court, but the
“ ADVANCES” AND “ STAN DARD RETU RN ” &c — See page 5
on bonds was regularly paid out of the earnings of the road. Upon
108 °p 268
”
executed to March 31 1910.* V 107. £ i f f 4 ? V . Interest
termination of Rock Island receivership In June 1917, the operation of the
Valuation in 1918, V. 104, p. 7 3 , 4 5 2
property was again taken over by Rock Island Ry. under the old lease.
Stock ls $1,524,600 pref. and $2,600,400 com. (par $100). On Dec. 31
£
1918 Ch. R. Isld. & P. Ry. Co. owned $1,487,900 common and $575,100
see
pror. Prer. entitled to share with common stock in any excess over 8% .
V. 90 p. 49, 969; V. 104, p. 1801. Pref. dlvs. were resumed in 1919, 7% ,
w
k
; K K i V . ’K ; V ^ . V f e W v . ’ t s . pu i «
paid March 1.
D IVIDEN DS.— First diy. on pref. stock 4% naiJ Julv 1 1Q07 nnf nf LATE DIV.l '04. ’05-’07. ’08. ’09. ’10-’ 12. '13. ’ 14. ’ 15. ’ 16-’ 18.
1919
pref. % - i 1H None 1 * 1 214 yly 3H 3 * 2& None M ar.,7%
1919s; / g . 19v6‘ lok°pCt 1 6 1 ^ : 1008 *
?5 OnYear
ended Dec. 31 1917. gross, |344,073: net, $10^,938; Int. on bonds.
$137,600; charges. $86,940; bal., def., $117,502.
’
1
la if ^1Rttoo D
e c S31.H917.Gross,
3T { t q i? -S ross’$15-250-406:
<bef-) S3,725.406
122 ^mos., Jan.
Dec.
12,410,965; ncfc
taxes),
4,776 284
Officers.— W . L. Bell, Pres.; Carl Nyquist, V.-P.. Treas. & Asst. Sec.;
F. W. Sargent. Sec.— (V. 105. p. 67, 1818; V. 108. p. 784.)
1914EI20R5T'— F° r f SCal year onding D oc- 31 1917, V. 100, p. 1892,
A KEOKUK & HAMILTON BONDHOLDERS’ CO.
„ Ca'lendar Years—
1Q17
iq i«
1Q1_
Incorporated In May 1914 with $100,000 authorized stock, of which only
?„52m,',nal. am? un.t *° 95 Issued at present, to acquire (per plan V. 9 9 . n.
1920, the bonds of the Keokuk Sc Hamilton Bridge Co., which owns bridge
across Mlsalss ppl River at Keokuk, la ., used by Toledo Peoria Sc Western
an£uW
oa,?d foot Passengers, and assist It in rebuilding the bridge.
..................i t j M l
The $1,000,000 30-year convertible non-cum. income debentures, to bear
at not to exceed 2>4% per annum, were exchanged $ for $ for the
Sg&fSi'bSsaris::;:::;:;—- M | g
.teg® Interests
Bridge Co. bonds. These debentures have since been retired by an Issue
Miscellaneous.............................. . r
3 2 4 332
1 359 515
am°uut ’ Holders o f Bridge bonds subscribed for an Issue
Dividend on pf. stock (4 % )...........”
^ 0 ®
840,000
840.000
of $400,000 of 30-yr. 6% secured notes secured by the bonds, the proceeds of
are being used to rebuild the bridge.
v
0
Balance, surplus................................. $1,784,143
$1,182,042
$535,704 which
'Lho *n^ °me of the new co. Is to be applied, first, to payment of Interest
on tho 6% secured notes; second, to a special fund on the stock, and third
to retirement of tho notes by lot at par and int. or by purchase at less than
par (these by Increase in traffic, it is expected to retire In a reasonable time)
Upon such retirement the notes will be returned to tho stockholders.
,^P,ABNIN<£ ? ,0L ? e0kuk & Hamilton Bridge Co. year ending Dec. 31
1917, gross. $71,805; net, $40,036; Interest, $37,700; taxes, $57104. For
yciir 1918, gross, $66,759; net, $39,060; interest, $47,819; taxesT$7 398
Pres.. Andrew Carnegie; Treas. Theodore Gilman. 55 Wuiiam St., N Y
★ KANSAS C ITY TERMINAL R Y .— Owns 24 miles o f road with n a « « „
— (V. 95, p. 818; V. 99, p. 120.)
A L A CROSSE & SOUTHEASTERN RY.— Owns La Crosse and South
s a t ?& £•
eastern Jet. to Viroqua, W ls.; 40.81 miles; trackage La Crosse and
S. E. Jet. to La Crosse, 1.8 mllee; total, 42.01 miles.
Stock authorized
u M ; r p « ? n c ? w i “ " ; cV oV I S
outstanding. $955,000: par. $100. Bonds. $I.CKW,000:"luh.;
Tex,, Kan. City Southern and Ohio, Gt. Western, which will pay equally $1,000,000;
outstand-lng, $300,000.
Wisconsin Trust Co. of M ilwaukee/ trustee.
A p r ., 1919.] * g 3 i ment
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
[For abbreviations. &c., see notes on first page]
Miles Date
Road Bonds
Par
Value
Amount
Outstanding
Rate
%
4
5g
When
Payable
APrlvate
Control.
71
Last Dividend Places Where Interest and
and Maturity
Dividends are Payable
$10,750,000
Lackaw RR of N J—Stkauth $12,000,000 gu 4% dlv
J fc D Doc 1 1953 '
970.000
L E Frank & Clarion RR— 1st M g call 1918 105-FP
31 1913
$1,656
Lake Erie & Detroit River— See Pere Marquette RR.
100 4.300,000
5
Lake Erie & Pittsburg— Stock rental guaranty...........
& D June 11965
First mtge $15,000,000 g guar unissued..(l.xe'& r*
28 1915 1.000 &c Seo text
4H B j
100 11,840,000
710
Lake Erie & Western— Common stock $20,000 p m ..
j
it J Jan 15~i.908 1%
100 11,840,000
Preferred stock 6% (not cum) ($20,000 per m ile)..
710
5 g J & J Jan 1 1937
710 1887
1,000 7,250,000
1st M ($10,000 per mile, see V 46. P 45) g-.C e.x c*
5 g J & J July 1 1941
710 1891
1.000 3,625.000
2d M (V 54. p 444) S3.025,000 ($5,000 p m) gCe.xc*
880,000
4H J Sc J Jan 1 1919 to’27
1917
Equip trust duo $110,000 yrly begin Jan 1 1918.CP
Lake Shore & Michigan Southern— See New York Gentr al RR.
622,000
100 &c
Lake Super & lshp— 1st M $70,000due yrly red 101 xc*
34 1911
6 2 F & A Feb ’20-Feb ’31
500.000
1.000
Lake Tahoe Ry & Tr Co— 1st M g $500,000 s t beg 1905
17 1901
5 ft A & O Oct 1 1931
60.000
5 g J & J July 1 1920-30
loosing Manufacturers— 1st M serial interest rental..
1.000
8 1905
Laramie Hahn s Peak & P acific Ry— See Colorado Wyom ing & Eastern Ry
100.000
1,000
1906
Las Vegas & T on— B. Sc G. 1st M g s f d calll02J4 FP
6 g J Sc J Jan 1 1922
1914
1.000
68,000 . 6 g J Sc J July 15 1921
2d M (held by Las Vegas Sc Tonopah) g o ld --------1,000
560,000
5 g J & .) Jan 1 1923
3 1893
Leavenworth Terminal Ry & Bridge— 1st M g s f.Cex
100
1,720,000 See te*t J Sc D Feb 10 1919 6%
Lehigh & Hudson River— Stock $1,340,000..— ____
1,000 2,587.000
5 g J & J July 1 1920
74 1800
General M $3,000,000 g (see te x t)----------------Ce.xc*
M ft N July 1 1920
4
1,000
400,000
1907
Debentures $400,000 red 105 since Nov 1911_____x
50
6,300.000 8 in ’ 18 Various Dec 1918, 8%
Lehigh & New England— Stock----------------------------1,000
1,000.000
5 g J Sc J July 1 1945
1895
First mortgage $1.()00,000 gold____________ FPx All
1,000
4.000.000
5 K J Sc J July 1 1954
General mtge $15,000,000 g red 105----- GuP.kc*
196 1914
1,000
150.000
Equip tr ser A g gu red 102 IS due $30,000 yrly flu Px
1908
4H & J & 1) To June 1 1923
1,000
1911
385,000
4 Yt M & N To May 1 1926
do
ser B g gu red 102 Yi due $45,000 yrlyfluPx
K Sc A To Feb 1 1928
1,000
340,000
do ser O guar gold red 102 M $35,000.'yrly.QuPx
1913
4H
do ser D duo $40,000 yearly guar______PeP.xc*
1,000
400,000
4J4 M Sc S To Mch 1 1929
1914
A Sc o To April 1 1931
1,000
do ser E due $55,000 yrly (guar)(V.103,p .1405) PeP
1916
635,000
4^
U 8 Mtgo & Tr Co. N Y
New York
Offloe, Gr Cent Ter, N Y
Chase National Bk N Y
do
do
Clt Sav & Tr Co, Cleve
Merc Trust Co, San Fran
Union Trust Co, Detroit
Fidelity Trust O , Phila
do
do
Central Trust Co, N Y
Warwick. N Y
IrvNat Bk. NY Warwick
Irving Nat Bank, N Y
Philadelphia office
437 Chestnut S, Phila
Guar Tr Sc S D Co, Phila
do
do
do
do
Penn Co tor Ins. &c. Phil
do
do
A LEAVENWORTH & TOPEKA R Y .— Leavenworth to Topeka. 57
miles, Including 11 miles trackage at terminals. The railway was bid in at
foreclosure sale on May 10 1918 for $80,000 by residents along the line and
turned over to the present company, incorporated In Kansas on May 15
1918, with $100,000 stock in $10 shares. It was also arranged to lease the
property for 10 years to a new company, tho Topeka Sc Eastern Ry., headed
by O. P. Byers of Hutchinson, Kan., President of Anthony Northern RR.
Rental, for first year’s taxes; for next four years taxes plus $2,000 yearly
2d 5 years, taxes and $5,000 yearly.
OFFICERS.— Pres.. J. E. Waddiil, Kansas City; V .-P ., Walter A.
Johnson Topeka: Treas. George W. Hanna Clay Center and Sec. Floyd
E. Harper Leavenworth, Kan.— (V. 106, p. 2450, 2560.)
★ LAKE ERIE & EASTERN R Y .— Marcy to Brady’s Lake Junction, ★ L E H I Q H & H U D S O N R I V E R RY.— Owns from Maybrook on Central
0 . , 27K miles. Stock (V. 106, p. 2011), $7,790,000. all owned by N. Y. New England Ry. to Belvldere, N. J., on the Penn. R R ., 73.9 miles; and
Central System. Annual compensation under Federal control, $127,081. from
Phllllpsburg, N. J., to Easton, Pa., .70 miles; trackage, Penn. R R „
Federal Mgr., J. B. Yoho, Pittsburgh.— (V. 105. p. 2184; V. 106, p. 2011; Belvldere
to Phllllpsburg, 13.3 m.; D. L. Sc W. trackage, Andover Jet. to
V. 107, p. 291; V. 108, p. 171.)
Port Morris, N. J.. 8.7 m.; total op. 96.6 miles. V. 79. n. 269; V. 94,p. 416.
Annual compensation under Federal control, $519,371.
A LAKE ERIE FRANKLIN & CLARION R R .— Owns Summerville to
Clarion, Pa.. 15 miles; hranch, Strattonvillo to Mill Creek, Pa., 3.10 m.;
“ ADVANCES” AND “ STANDARD R E T U R N .” & c — See page 5.
other branches,
m.; trackage, Sutton to Franklin, Pa., 47.9 m.; total,
BONDS.— Of the $2,587,000 Gen. M . bonds out. $1,062,000 are euar74.75 mllos. Capita! stock S1.000.000, par $50. 1st M. bonds auth. $1,
Jolntly,
p. & i „ by Central ItR. of N. J. and Leh. Coal & Nav. Co. V. 92,
000,000. callable on or after Dec. 1 1918 at 105 and interest.
For calendar year 1916, gross, $153,345; net, $56,713; other income, p. 595, 1701. See form of guaranty, &c.. In V. 67, p. 788: also V. 85,
p.
1513.
The $164,000 2d Mtge. bonds, due July 1 1917, were paid at
$5,583; int., taxes, ice.. $59,063; sur., $13,232. For 1917, grass, $159,408;
net, aftor taxes, $49,422. Pres., Gen. Charles Miller, Franklin, l ’a.; D IVIDEN DS.—
\ 1912. 1913. 1914. 1915. 1916. 1917. 1918.
V.-Prcs.. T. J. Odell, N. Y.; Treas., II. H. Hughes.
4
4
8 8&6 extra 12 Seo text
Per cent___________ J 4
On Jan. 1 1918 paid a stock dividend of 28.36%. to represent surplus
★ LAKE ERIE & PITTSBURG R Y .— Owns 27.76 mllos between Marcy expended on the property prior to April 1912, thus increasing the capital
at a connection with Cleveland Short Line Ry. (now N . Y. Central RR.) stock to $1,720,000.— V. 106, p. 2335. June 1918, cash, 6% . Then none
and Brady Lake Jet. on Penna. RR - was opoued Oct. 15 1911. V. 98. until Feb. 1919 when 6% was paid.
p. 1241. Jointly owned by N. Y. Central R lt. and Pennsylvania Co.,
EARNINGS.— 12 rnos.J 1918..Gross, $2,476,851; net. before $523,732
which have trackage rights over the road, rental providing for interest and
Jan. 1 to Dec. 31.
\1917-_Gross, 2,247,617;
taxes),
779,810
5% on stock
Stock auth.. SO,900,000, as increased in May 1911: outetand
ANNUAL REPO RT.— For cal. year 1917; V. 106, p. 2335.
ing, $4,300,000, o f which the Pennsylvania Company and N. Y . Central
Net. Olh. Inc. Int.,Tax.,&c. Divid'ds. Bal.,Sur.
R R . each owned on Dec. 31 1917 about $2,150,000. In Juno 1918 now Dec. 31 Year. Gross.
bonds were issued. $1,770,000 each to Penna. Co. and N . Y . Central, but 1917_______$2,247,617 $681,408 $9,851 $338,485 (12)$160,S00 $191,973
1916_______ 2.143,597 738,540 7,331 325.295 (14) 187.600 232.975
are not guaranteed. V. 101. p. 694; V. 103, p. 320.— (V. 104, p. 1801.)
Lewis A. Riley, Pres., Phila., Pa.; George D. Dixon, V.-Pres.; John W .
★ LAKE ERIE & WESTERN RR.— ROAD.— Owns Sandusky, O.. to Sanford,
Sec.-Treas., Warwick, N. Y . Gen. Mgr. under U. S. G ovt.,
Peoria, 111., 413 miles; branch to Minster, 10 miles; branch, Indianapolis to
Michigan City, 159 miles; tort Wayne to Connersvlllc and branch to Rush- Morris ltutherfurd, Warwick, N. Y .— (V. 107, p. 2008, 2476.)
★ LEHIGH & NEW ENGLAND R R .— Operates road from Hauto. Pa.,
vlllo, 128 miles: total owned, 710 miles; leases Northern Ohio R R ., Akron
to Campbell Hall, N. Y ., 127 miles; Hainesburg Junction, N. J.. to
to Delphos. 162 miles; trackage, 28 miles; total operated, 900 miles.
N. J., 60 miles; Bethlehem, Pa., to Benders Jet., Pa., 19 miles;
HISTORY, &c.— See V. 50. p. 590; V. 85, p. 600. N . Y . Central R R . Kdgewater,
Bath, Pa., to Martin's Creek. Pa., 18 miles, and branches, 72 miles: total,
owns $5,940,000 com. and $5,930,000 prof, stock. V. 71. p. 1269.
Dec. 31 1917, 297 miles, of which 9 m. are leased and 96 m. trackage rights,
“ ADVANCES” AND "ST A N D A R D R E TU R N ,” &c.— See pgao 5.
leaving 192 miles owned. In 1918 built from Bethlehem, Pa., to Allen
Annual compensation under Federal control, $1,548,541.
town, 3 miles. V. 95, p. 1403; V. 105, p. 181. Lehigh Coal Sc Nav. Co.
DIVIDENDS.— 1*99. ’00. ’01-’03. ’04. ’05. ’00. ’07. ’08. ’09to Fob.’ 18 owns majority of stock. V. 78, p. 1781, 1962; V. 91, p. 1386.
In April 1919 Government contract had not yet been executed.
On preferred — % / 0
2 4 yearly 3
3
3
3
1
None
"AD VA N C E S” AND "STA N D A R D R E T U R N ,” &c.— See page 5.
BONDS.— Guar’s 5s Nor. Ohio, which see. Equip. 4>$s, V. 104. p. 256.
EARN ING S.— 12 m os„ f 19 18..Gross, S9,343,905; net (after $903,893
SECURITIES.— Stock auth., $7,500,000; outstanding Dec. 31 1917;
Jan. 1 to Dec. 31.
11917-.Gross, 8,122,896; taxes), 2,251,363 $6,300,000. $6,297,750 being owned by Lehigh Coal & Nav. C o.; par. $50.
REPO RT.— Report for year end. Dec. 31 1916, in V. 106, p. 2009.
DIV ID E N D S.—
1913.
1914.
1915.
1916.
1917.
Year—
Cross.
Net.
Other Inc.
Int., &c.
Balance.
P ercen t..................................... 4%
8%
11%
10%
10%
1917...................$8,122,895 SI,853,777 $136,681 $1,256,865 sur.$ 733,593
Bonds, &c.— Ot the Gen. M . 5s of 1914 ($15,000,000 auth.), $1,000,000
1916.....................7 -40M ? 4 2,410,960 126,438 1,017.431 sur.1,519,967 wore reserved to retire the 1st 5s and $10,000,000 for future purposes. V.
1915....... ..........1.445,241
126,562 1,055,253
sur.516.550 102, p. 976, 1060; V. 99. p. 49. 674.
1914................
5.602.771 867.402 123,474 1,218,750
def.227,873
EARNINGS.— 12 mos., 11918-Gross. $3,989,895; net (before $1,205,775
1. Federal M gr., H. A. Boomer, Indianapolis, Ind.— (V. 107, p. 23/6.)
Jan. 1 to Dec. 31.
\l917-Gross, 3,666,567; taxes),
1,402,922
LAKE SUPERIOR & 1SHPEM1NG RY — Owns Prosque Isle (Mar
REPORT.— Earnings for year ending Dec. 31 1917, V. 106, p. 2442.
quette) to Ishpeming, Mien., 26.10 miles; branches, 7.94 miles; total,
Gross
Net, after
Other
Interest, Dividends
Balance,
34.04 miles. Also owns largo docks at Presque Isle Harbor. Controlled
Earnings.
Taxes.
Income. Rents,&c.
Paid.
Surplus.
by Clevoland-Cliffs Iron Co. Stock, $1,000,000; par, $100. The serial 0s
of 1911 aro redeemable In roverso of numerical order at 101. V. 9 2 ,p. 1636; 1917 __ $3 660.567 $1,171,968$223,232 $499,724 (10)8624.000 $271,476
1918 __ 3,048.332
1,116,762 61,202 480,193 (10)600,000 97.771
V. 93, p, 229. For year ending Dec. 31 1917, gross, $791,252; not. $172,
1915___ 3.074.265 1.395,569 23.598 470.029 (11)660.000 289,138
991: othor Income. $30,112; Int. on bonds. $02,860; rental, &c.. $10,974;
Pros., Samuel D. Warriner; V.-P. & Gen. Counsel. Wm. Jay Turner;
bal., sur., $129,270. Car trusts ($200,000) were paid In full July 1918.
Sec. Sc Treas., Henry H. Pease; Compt., E. M . Reynolds, 437 Chestnut
Pros., Wm. G. Mather, Cleveland, Ohio.— (V. 106, p. 929.)
St., Phila., Pa.: Gen. Mgr. under U. S. Govt., R. H. Wilbur; Federal
LAS VEGAS & TONOPAH R R .— Owns Las Vegas, N ov., to Beatty, Treas., G. W. Sitgreaves.— (V. 107. p. 1579.)
117.2 miles. In 1918 operations were reported abandoned. V. 106, p ’
★ LEHIGH VALLEY R R .— Oper. Dec. 1918, 1,436 miles, viz.:
169. Tho Las Vegas & lonopah R R ., in return for its guaranty of the
$199,000 Bullfrog-Goldfield first mortgage bonds and transfer of part of Main Line (fee, or all stock owned), ILeased______________________ 143
its lino between Beatty and Goldfield, received 51% of tho Bullfrog com
Jersey City to Buflalo_______ 453 Trackage_____________________
49
pany’s stock ($1,640,000 as reduced), per plan, V. 99, p. 1538. Stock Branches (fee or all stock own’d) 791! (2d track 597 miles)
autli., $4,000,000; outstanding, *1,500.000; par $100. Loans and bills
Under order of the Director-General of Railroads the New York and
payable Dec. 31 1917, 81,439,000. No bonds.
Jersey City stations of the Pennsylvania RR. have been used by this com
For year onding D e c . 31 1917 (118 mllos), gross, $100,102; net, $4,508 pany since Sept. 15 1918. V. 107, p. 1101.
othor income, $2,8<8; c h a r g e s , $27,691; bal., dof., $20,315. Pres., J. Ross
In Oct. 1918 took over the 40-mile Susquehanna & New York R R .,
Clark; V . - P r e s ., C. O. Whittemore; S e c . & Treas., W . H. Comstock. Williamsport to Towanda, Pa., on Lehigh Valley R R . V. 107, p. 1579.
Office, 583 P a c i f i c Electric Building, Los Angeles. Cal.
HISTORY, ETC.— V. 91, p. 276.
BULLFROG-GOLDFIELD R R .— Beatty, N ov., to Goldflold, N e v „ 80
Lehigh-Buffalo Terminal R y. (entire $50,000 stock and $5,000,000
miles. In June 1914 control was obtained by Las Vegas & Tonopah R R ., 1st Mortgage 4H s owned Dec. 31 1918) has built a new passenger and
freight terminal at Buffalo. V. 102, p. 153; V. 99, p. 467; V. 100, p. 397,
duplicate linos being abandoned. See above; V. 99, p. 1536. Year 1915
10, gross. $142,516: net, $30,978; other Income, $1,203; lilt., taxes, &c., 733. 1257, 1672; V. 101, p. 455; V. 104, p. 1263; V. 106. p. 1461.
Black Tom decision V. 107. p. 2008; V. 108, p. 973. Coal rate case,
$22,502; bal . sur , $9,619 — (V 99, p 1536; V 107, p 1385 )
V. 108, p. 683
LEAVENWORTH BRIDGE CO.— V. 106, p. 1577.
COAL
PROPERTY.— Lehigh Valley R R . Go. on Doc. 31 1917 owned en
★ LEAVENWORTH TERMINAL RAILWAY fit BRIDOE— Owns high
way and railroad bridge (opened Jan. 1 1894), 1.140 ft. long, over Missouri tire $9,465,000 stock of Lehigh Valley Coai Co. Coxo Bras., see “ Bonds.”
Tho Coal Co. shipped from collieries owned and controlled 7,074,765 tons
River at Leavenworth, Kan., and valuable terminal property In that city.
In July 1910 the Chicago Great Western acquired the entire stock, but does of anthracite coal for the 6 mos. to Dec. 31 1916, against 7,254,387 tons for
not guarantee or assume bonds. V. 91. p. 214, 397. Kansas City St. the corresponding period In 1915; total coal and coke tonnage. 6 moa. to
Josoph & C. B. (Chicago B. & Q.) and Chic. R. I, <Sc P. use the bridge at an Dec. 31 1916, was 8,692,076. No .ater data published.
In Jan. 1912 the Lehigh Valley Coal Sales Co. was incorporated. See
annual rental of $16,000 each, under a 3 0 -year contract from 1894. with
option of 3 0 -year extension. Chicago Great Western R R . also uses tho extra dlv. below and Lehigh Valley Coal Sales Co. under “ Industrials.”
V .94. p. 123; V. 92. p. 956; V. 95. p. 487. 478.
bridge under a contract expiring In 1924, the annua! rental being $12,000.
Anti-trust suit appealed by U. S. Govt. V. 105, p. 1898; V. 103, p. 1118
Stock, $600,000. Federal Manager, W . L. Park, Chicago, 111.— (V. 91, p.
V. 102, p. 1346; V. 101, p. 2145; V. 102, p. 609. 1626. 1896.
397; ,V. 107, p . 696.)
Year ending June 30 1916, gross, $90,187; net, $25,189; Int. on bonds
$15,000; taxes, $4,026; bal., sur.. $6,163. Pros., John H. McMillan.
Minneapolis, Minn.; V.-P., A. S. Cargill, Milwaukee, Wts.; Sec. Sc Treas.,
Jas. B. Taylor, Minneapolis, M inn., and Aud., S. J. Lennon, La Crosse.
Wis. Office. 300>i) Main St., La Crosse. Wis.— (V. 80. p. 222.)
★ LACKAWANNA RR. OF NEW JERSEY,— (See D. L. A IT. M ap.)—
owns from llopatcong, N. J „ to a point near Portland, Pa., 27.44 miles,
opened Deo 1911. D .L . & W .leases the road for a guaranty of 4% on the
stock. V 93, p. 1324. 1786; V. 92, p. 656: V. 90. p. 557; V. 88, p. 558;
V 86 p 543 Stock outstanding. Si0.750,000, was distributed in Deo.
1911 as a dividond to tho D. L. Sc W. stockholders.— (V. 106, p. 601.)
72
★ Control.
Government
APrlvate
Control.
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
lFor abbreviations, &c., see notes on first page]
Miles Date
Road Bonds
Par
Value
*50
Lehigh Valley— Common stock $80,000,000........._Gp
50
Preferred stock 10% (V 79, p 151, 269)...............GP
1,000
First mortgage extended In gold In 1898-GP.xc&r
286 1868
1,000
Consolidated M lcou p* reg $4,762,0004)4s ..x c& rl
1 1873
1,000
$40,000,000 j annuity $2,538,000 4 )4 s .._ .F P x ) .317/ 1873
317 1903 1,000 &c
General Consol mtgel *150,000,000 gold..aP xc*& t
317 1903 1,000 &c
do
do
/
1905
1,000
Coll trust bonds $500,000 due s a, see textGP,xc*&r
Coll trust bonds call 103 Sept 1923 or aft.xxxkc*&r*
1918 1,000 &c
Bonds of Controlled Properties—
1,000
Lehigh St N Y 1st M gold guar p & 1___ Mp.xc*&r
115 1895
1,000
Lehigh Valley Ry 1st M g gu p & 1 (end) GP,xc*&r
514 1890
Lehigh St Lake E 1st M *3,000.000 g Usm.xc*&r._
1,000
11 1907
1916
Lehigh Buffalo Term Ry Corp 1st M bonds---------Further *17,400,000 pledged under coll trust of 1918. See tex b
1,000
Lehigh Val Term 1st M g guar p& 1end__Ce.xc*&r
28 1891
69 1880
1,000
East & Am 1st M Phill N J to Perth Am &c guar.xr
Easton & Nor 1st M g guar by Leh V al.aP.xc*& r
500 &c
13 1895
1,000
Middlesex Valley 1st mtge *6(50,000 gold__ Ce.zc*
29 1892
1,000
Pa & N YCan&RR— Cons gu (text) (end)__aP.xr
136 1888
100
Morris Canal consol stock 4% guaranteed perpetual
100
Preferred stock 10% guaranteed perpetual______
1,000
L V Coal Co 1st M *12,000.000 g s f not d r„x c*& r
1892
1,000
do
interest reduced_______________________ x
1892
Delano L ’d 1st M g gu s f (V 90. p 1617)____GP.x
1,000
1891
1.000
Cons Real Est 1st M *2,600,000 (V 83. d 702) - - Usro
1906
100
Lexington Union Station— Preferred stock (see text).
LIgonler Valley RR— 1st M *300,000...................... x
1.000
16 1913
1,000
Lime Rock — Consolidated refunding mortgage g o ld ..
12
1 000
Litchfield & Madison— First mtge $1,000,000 gold.x
44 1904
Little Miami— Stk original gu 8% 99 yrs P C & St L _.
50
Special guaranteed betterment stock ($5,000,000)..
50
General mortgage $10,000,000...............................z
1,000
1912
Little Rock & Hot Sp VVest-r-See St Louis Iron Mtn & Sou.
50
Little Schuylkill Nav RR & Coal— Stook (rental guar)
32
1,000
Live Oak Perry & Gulf RR— First mortgage______x
81 1912
Long Island—
1,000
Consolidated mortgage (gold) (*3,609,000are5s)Ce.v
156 1881
1,000
General mortgage gold________ _________ ..C e.vc*
163 1888
Long Island R R M bn ferry for $2,750,000 g .Ce.zc*
1,000
1892
b Of this amount *44,000 was In treasury on Dec. 31 1918.
Amount
Outstanding
Rate
%
When
Payable
$60,501,700 10 in ’ 18 Q—J
106,300
10
Q—J
5,000,000
4 g J 09 D
10,400,000 4)4 & 6 J & 1)
12,600.000 4)4 & 6 J & D
M & N
26.639,000
4g
20.697,000
4)4 g M St N
F & A
6,141,000
4g
M & S
15,000,000
6 g
2,000,000
15,000,000
3.000,000
921,000
M & s
4 g
4)4 g .1 & J
4)4 g M * s
M & N
4)4
5g A &
10,000,000
M &
6,000.000
5
51,000
4)4 g M &
200.000
5g M &
8.500,000 4. 4)4, 5 A &
F &
See text
4
F &
See text
10
10.114,000
5g J *
1,400,000
4g J &
179,000
5g J &
F &
In treasury
4
J sc
388.000
4
M St
300,000
6
400,000
4 g J Sc
M &
1,000,000
5g
-M
4.943,100
8 3-6
4,642.650
4
Q— M
&
b 1,070.000
4
2,487.950
789,000
5 g
5
J
A
<&
&
Last Dividend
and Maturity
[V
o l
.
108
Places Where Interest and
Dividends are Payable
Apr 5 ’ 192)4% Checks mailed
do
do
A p rs ’ 19 2)4%
June 1 1948
Deo 1 1923
Go’s office, 228 So 3d St.
Irredeemable
May 1 2003
Phil, and J P MorgaD
& Co. New York
May 1 2003
Aug ’ 19-Feb 26
Sept 1 1928
do
do
Sept
July
Mch
Nov
1 1945
1 1940
11957
1 1966
o Oct 11941
N May 1 1920
N Nov 11935
N Nov 11942
O Apr 11939
A Fob 6 ’ 19, 2%
A Feb 6 T9, 6%
.1 Jan 1 1933
.1 Jan 1 1933
J Jan 1 1932
A Feb 1 1956
J Jan 1 1919 2%
N May 1 1943
J July 1 1929
N Nov 1 1934
10 Mch 1919 21-5
10 Mch 10 T9 1%
N Nov l 1962
O f.P h il.& JP M & O o.N Y
do
do
do
do
do
do
Of.. Phil, & J P M , N 4
Office, 228 So 3d St, Phil
do
do
Of. Phil ,&J P M &Co.N\
Lehigh Valley R R . Phita
Office, 228 S 3d St, Phlla
do
do
fJ P Morgan J t C o .N Y ,
1 and Droxol & C o . Phil
Go’s office, N Y & Phlla.
Office. Lexington, Ky
Mellon Nat Bk. Plttsb
Portland, Me
Central Tr Co. N Y
Office, Fosdlck Bldg, Cln
do
do
Farmers’Ln&TrCo, N Y
J Jan 15 T9 2)4 Office. 410 Walnut,Phlla
Safe Dep & Tr Co, Balt
O Junel 1942
Q—J July 1 1931
4,730,000 4 & 5 g
3,000,000
4 g J & D June 1 1938
1.490,000
4)4 g M & S Mch 1 1922
Treas Penna RR Co, N Y
do
do
do
do
Bodine, Geo. F. Baker, Henry B. Coxo, Arthur W . Sowall, Morris L.
Clothier, Edward E. Loomis, ex-officio.— (V. 108, p. 878, 973.)
★ LEXINQTON & EASTERN R Y . — See Louisville & Nashville.
★ LEXINQTON (KY.) UNION STATION CO.— Owns passenger station.
Common stock, 515,000, owned equally by Loulsv. & Nashv., Cties. &
Ohio and Lexington & Eastern. There has been authorized $500,000 of 4%
cumulative (non-voting) preferred stook, secured by mtge., and rentals paid
by above-named roads on basis of passenger cars. Pres., W . A. McDowell.
A L IQ O N IE R VALLEY R R .— Latrobe to LIgonler, Pa.. 10.3 miles; Llgonior to Fort Palmer, Pa., 5.7 m j total, 16 miles.
„ ___
Stock, *500,000; par *50. Dividend, 25% in stock paid M ay 1 1913.
In year 1913-14 6% doferred dividend and 6% regular were paid. Bonds,
see table above. For yoar ending June 3U
30 1916.
lin o , grass, *294,961;
*294,?
net,
*168,167; other income, *5.198; int., &c., *42,736; d lv „ *60,000; sur.,
*70,629. For cal. year 1917, gross, *328,578; not. aft. taxos. *179,398.
Pres., J. R. Mellon; Sec., A. W. Mellon; Trans., R. B. Mellon. Office^
Ligonier, Pa.
A LIME ROCK RR.— Owns road in and around Rockland, Me., 11 m .,
irackage. 1 m.; total. 12 m. Stock, $450,000; controlled by tho RocklandRockport Lime Co. of Maine (V. 92, p. 960). Dlv. In 1905-06, 5% : 1906,
07. 5% , of which 3% from accumulated surplus; 1907-08. 2 )4 % : 1908-09:
5% ; 1909-10. 4)4% ; 1910-11. 3M % : 1911-12. 2 )4 % : 1912-13, 4W % :
1913-14, 1)4%; 1914-15, 1)4% ; 1915-16, 1)4% ; sinco (7) Year ending
Dec.31 1916,gross, *87,333; net, *29,951. Office, Rockland— (V.82, p.1380.)
★ LITCHFIELD & MADISON RY.— Owns Litchfield Jet. to Madison, 111.,
*4 m.; trackage, 1 m.; total, 45 m. Stook, common, $500,000: pref.. 4%
non-cum., *500,000: par, *100. Car trusts Oct. 1 1918, *27.614. Year
1917, gross, $489,342; net, *130,638; other inc., *48,411; int., &c., *52,435;
pref. dlvs. (15%) *75.000; com. dlvs. (4 % ). *20.000; surp., *31,237.
Pros., James Duncan, Alton, 111.; Federal Treas., I. T . Bennett.— (V. 107,
p.11192).
★ LITTLE MIAMI RR.— (See Maps Pennsylvania RR.)— Owns Cincinnati,
o „ to Springfield, O., 84 m.; branch, Xenia, O., to Dayton, O., 15 m.; Day
ton, O., to Ind. State line, 38 m.; leases Columbus & Xenia R R .. Xenia, O.,
to Columbus, O.. 55 m.; Cln. St. Con. R R ., 2 in.; Richmond & Miami R R .,
Indiana State line to Richmond, 4 m.; total. 199 miles.
LEASE.— On Deo. 1 1869 leased to Pittsburgh Cincinnati & St. Louis
(now Pittsburgh Cln. Chicago & St. Louis R R .) for 99 years, renewable for
ever. The Penna. R R . Co. is a party to the contract and guarantees Its
faithful execution. Rental Is 8% on $4,943,100 original stock, 4% on bet
terment stock and int. on debt; *105.800 additional stock Is In treasury.
Total stock, *10,000,000. V. 84, p. 51, 815; V. 86, p. 857; V. 104, p. 73.
Beginning Dec. 1899, 1-5% extra paid on com. stock each Dec. and
June, and with 1912 1-5% also In Sept., from surplus invested funds,
making dlv. 8 3-5% yearly.
BONDS.— The General 4s of 1912 (*10,000,000 autn. Issue; Cent. Trust
& Safo Dep. Co. of Cincinnati, trustee) are to boar not over 4% int., and
have a first lien. V. 95. p. 750, 1331; V. 96, p. 420.
_
............
Lessee’s report shows results to lessee: In 1912, loss, *28,188; In 1913,
loss, *142,190; In 1914, loss, $218,712; 1915, loss, *22,588; 1916, profit,
*196,704.
★ LITTLE SCHUYLKILL NAVIGATION RR. & COAL.— Owns from Port
uUnton to Tamanend and Reevesdale, 31.44 miles; 2d track, 26.47 m.; total,
91.71 miles. Re-leased on Dee. 1 1896 to Phlla. & Read. Ry. tor 999 years
and rental reduced from 7% on stock to 6% gold from Jan. 1 1907
D IV 8.— l '07. '08. ’09. '10. ’ l l . '12. '13. ’ 14. '15. '16. '17. '18. '19.
Since 1903 % I 5)4 5)4 5 5)4 5
5)4 5 5)4 5
5
6 o 5 2)4
Lessee pays taxes and organization expenses.— (V. 106, p. 189.)
A L IV E OAK PERRY & GULF R R .— OwnsLlvo Oak to Econfenia. etc.,
Fla.66, .85 miles; Mayo Jet. to Alton, Fla., 14.41 m.; Murat Jet. to Murat,
Fla., 3.74 m.; branches, 2.88 m.; total, 83.88 miles. Stock auth., $2,000,
000; outstanding, *600,000; par, *100. Bonds, see table. Car trusts
June 30 1916, *35,000. For yoar onding June 30 1916, gross, *235,273;
net, *119,063: charges, &c., *66,621; bal., sur., *54,951. For cal. year
1917, gross, *246,702; net, after taxos, $106,290. Pres., J. II. Powell;
Sec. & Treas., R. Hopkins. Office, Llvo Oak. V. 104, p. 2452.
★ LONG ISLAND R R .— Operates the steam surfaco roads of Long Island.
Miles.
Leases—
'
(*Which see.)'
Miles,
'
Main line and branches.............. 197 N. Y. Bklyn & Man. Branch*.. 18
Total income. 14,347,657 14,041,713 Surplus..........
532,034 1,091,059 Montauk
division and branches.. 142 Trackage (included above 4 m .).
ANNUAL REPORT.— For year 1918, in ' “Chronicle” o f April 26 1919: Northslde division......................... 19
Total Jan. 1 1919....................... 398
------ Year to Dec. 31------ - — Year ending June 30—
Revenue from Oper.—
1917.
1916.
1916.
1915.
Atlantic Ave. Nassau Elec. R R - 10 Oper. electrically (miles trac.).-._188
Double track................
>.157
Coal freight.....................*20,402,226 *18,330,880 *18,811,099 *19,195,756
Leases (*which see)—
Merchandise freight___ 22,705.556 21,478,421 20,363,251 16,005,501 N. Y . & Rockaway Beach R y .* .. 12,
Also owns the Huntington R R ., Northport Traction, Nassau County
4,043,799
Passenger....................... 4,894,990
4,300,183
4,598,212
Mall, express, &c______ 5,355,674 __________________________
3,908.037
3,280,909 R y., Glen Cove R R . and Ocean Electric R y., having combined mileage of
4.452,396
Total oper. revenue..*53,358,446 548,859,909 *47,382.570 *42,525,962 34)4 miles, and through tho Long Island Consolidated Electrical Companies
Net, after taxes............. *9,403,324 512,279,778 *12,574,714 *10,871,803 a one-half Interest In N. Y. & Long Island Traction Co.. 42 m ., and Long
Island Electric Ity., 26 m. V. 89, p. 598; V. 90, p. 1040; V. 106, p. 396, 499,
Other Income................. 5,077,156
2,987,267
1,626,229
1,942,212 2222.
Fares in 1918, V. 107, p. 181.
Total net.................... *14,480,480 *15,267,045 *14,200,943 *12,814,015
PLAN.— In 1917, the minority shareholders having generally surrendered
Bond Interest................... *3,952,876 *3,753,304 *3,500,437 *3,459,738 their holdings, the Penn. R R . C o.: (a) accepted in settlement of tho approxi
Lease other roads........... 2,144,178
2,142,589 2,142,589
2,142,589 mately *30,000,000 of indebtedness duo it b y tho L. I. R R . Co. (consisting,
8 8 9 ,2 4 3
Other ronts,& c............... 1,231,567
1,543,381
891,477
chiefly of 4% debentures), *5,202,100 now 5% 20-year debentures, and for
10,630 the remainder capital stock at par; (6) gavo *5,202,100 5% debe.t n exchange
Preferred dlvs. (1 0 % )..
10,630
10,630
10,630
6,050,170 for minority stoclc, * for *. V. 104, p. 361; V. 106, p. 2222.
Common dlvs. (1 0 % ).. 6.050.170
6.050.170
6.050,170 ___________
The debentures will be secured by any futuro mortgago on the prop
Balanco, surplus.........*1,091,059
*1,766.971
*1,605.640*261,645
erty. V. 104, p. 633, 863, 1146, 1263, 13899, 2235, 2452.
STOCK.—Authorized, *40,000.000; outstanding Dec. 31 1918, *34,110,President. E. E. Loomis: Chairman. E. B. Thomas; Vice-Presidents,
J. A . Middleton; Sec. & Treas., D. G. Baird, 228 South Third St., Phila 250, of wnich the Penn. R R . owned *33,934.850. V. 104, p. 361. 1899;
delphia. Executive committee: Chairman, E. B. Thomas, E. E . Loomis, V. 106, p. 2222.
Geo. F. Baker, E. T . Stotesbury, W . II. M oore, Daniel G. Rold, James
DIVIDENDS.—
f ’82. ’83-’90. ’91. ’92. ’93. ’94. ’95. ’96.
None
McLean and F. M . Kirby. F. L. Blendinger, Federal M gr., N . Y . City; Per cent_____________ 1 1 4 y ’ly. 4)4 5
5 4)4 4
4
since.
B O N D S . — The Refunding 4s of 1903 ($45,000,000 authorized I s s u o ) are se
J. F. Maguire, Gen. Mgr. under U. S. Govt., Bethlehem, Pa.
Directors.— E. B. Thomas, Edward T . Stotesbury, II. S Drinker, Fred cured by a lien on the entire road, subject to the $21,992,000 outstanding old
M . Kirby, ffm . H. Moore, Daniel G. Reid, James McLean, Samuel T . bonds, to retire whloh an equal amount Is reserved; remainder, $24,008,-
DIVS.
J’94-'03. ’04. ’05. ’06. ’07-’ 10.
1915 to Apr. 11919
Slnce'93 <%)1 None
1
4
4 6 y ’ly.
lOyrly
10 (2)4% Q^J)
In Feb. 1912 also an extra cash dividend ot 10%, applicable It delred to subscription for stock o f new Leh. Val. Goal Salas Co. V. 94. p.123.
BONDS.— Gen. Consol. Mtge. of 1903 Is for *150,000,000 bonds, bear
ing not to exceed 5% lnt., covering the entire road, the stock o f the Lehigh
Valley Coal Co. and other stocks owned. On Dec. 31 1918 there were
outstanding In the hands o f the public, *20,897,000 4)4* and *26,639.000 4s; In treasury, *1,000,000 4K s, *13,000,000 4s and *12,000,000 5s;
balanco reserved to retire underlying bonds and for additions, &c., $8,
000,000, these last being issuable at not exceeding *2,000,000 a year, or
larger amounts as may be authorized by stockholders. Old bonds may.
however, be extended, if necessary, for not over two years. Provision may
be made at time o f Issue o f bonds thereunder for right to convert into stock
at pleasure o f holder not over *25,000,000 at any one time outstanding.
V. 103, p. 588; V. 102, p. 1346, 1436; V. 97, p. 1823, 1898; V. 09. p. 477;
V. 77. p. 824; V. 78, p. 287: V, 79. p. 1642: V. 82. p. 1380; V. 86, p. 1343;
V. 88, p. 1372; V. 81, p. 211. Seo also collat. trust 6s bolow.
The purchase o f stock o f Coxe Bros. & Co. (*2,910,150) (V. 103, p. 587)
and o f Dela. Susq. & Schuylkill HR. In 1905 was financed by an issue of
*19,000,000 coll, trust 4% bouds, to be retired by *500,000 semi-annual In
stallments and secured by deposit o f those stocks with trustee. Bonds
subject to call as a whole at 102)4, or in order o f serial numbers. V. 81,
1175, 1242, 1376; V. 82, p. 100; V. 83, p. 702; V. 84, p. 1428; V. 88, p . 452.
Tho *15,000,000 Collat. Trust 6s o f 1918 (V. 107, p. 905; V. 108, p. 878)
were secured by collateral (subject to substitution under restrictions),
viz.: (a) *4,000,000 Lehigh-Buffalo Terminal- Ky. First Mortgago 4>4s,
due Nov. 1 1966 (guaranteed p. & 1. by Lehigh Valley RR.);(5)$2,600,000
Consol. Real Estate Co. Mtge. 4s, due Feb. 1 1956 (guar. p. & 1. by Lehigh
Valley R R .); (c) *17,400,000 Lehigh'Valley RR. General Consolidated Mtge.
gold bonds, due M ay 1 2003; *12,000,000 o f said bonds bearing lnt. at the
rate o f 5% ; *1,000,000 bearing int. at 4 )4 % ; *4,400,000 bearing lnt. at 4% .
Equipment trusts in treasury Dec. 31 1918: " L ," *400,000; “ M ,” *1.000,000; “ O ,” *2,000,000; “ R .’f $1,600,000. V. 106, p. 1453.
Loans and bills payable as o f Dec. 31 1918, *4,000,000.
GUARANTIES.— Lehigh Valiev Railway Co.— Owned Buffalo, N. Y .,
to near Sayre, Pa., 174.48 miles, double track, and branches, 339.74 miles.
In all 514.22 m.. covered by 815,000,000 mtge. ot 1890. but in 1903 and
1905 consolidated with other sub. cos. and In 1907 absorbed the Lehigh &
Lake Erie. Stock. 811,745,000, all owned by Lehigh Valley RR. Mortgage
abstract, V. 51, p. 114; V. 77. p. 147, 972: V. 81. p. 784; V. 84, p. 1366.
Lehigh Valley RR. Co. of New Jersey.— Owned double-track road from
PhUlipsburg, N. J., to Jersey City, and branches, with about 125 acres at
Jersey City and a large water front, &c. Total mileage, 122 miles. Stock
outstanding, *12.508.000, all owned by Lehigh Valley RR., which In 1914
leased road for 99 years. V. 77, p. 972; V. 63, p. 640, 880; V. 81, p. 784;
V. 83. p. 703; V. 98. p. 1845, 1&0.
Morris Canal.— Stock and bonds mostly owned by Lehigh Valley R R .
See Issue Oct. 1912 and V. 92. p. 527. 1109; V. 93, p. 811. 1106: V. 94,p.
419; V. 95. p. 488; V. 97. d . 373. In N ov. 1915 tho leaso was held taxable.
V . 101, p. 1807. Ownership of basin in Jersey City, V. 102, p. 1060.
Perm. A N. Y. Canal <*. RR.— Leased for 99 years from Deo. 1 1888 to
Lehigh Valley, which has assumed Its debt and owns all Its stock. Consols
Include 84.000.000 5s. 83.000.000 4s, 81.500,000 4 )4s. V. 62, p. 950.
Seneca County Ry., *500,000 gu. bds.; none sold Dec. 311918. V.79, p.1271.
Lehigh <fc Lake Erie mortgage (83,000.000) covers 11 m. double-track ter
minal road at Buffalo. V. 81. p. 211: V. 83, p. 702. Now a part of the
Lehigh Valley Ry. Co. V. 84. p. 1248: V. 85. p. 312: V. 87. p. 817.818.
Of Government advances o f *2,500,000, *2,000,000 represents 6%
secured loan and *500,000 rental account.
EARN INGS.— 12 mos., 11918..........Gross, *65,586.769; net, *8,240,744
Jan. 1 to Dec. 31.
\1917..........Gross, 53,358,446; net, 11,532,280
Federal income account for 1918 shows net income o f *6,821,130 (against
*9,688,471 in 1917).
Corporate Income Account for 1918, Based on Accrued Federal Compensation.
1917.
1918.
1917.
1918.
s
*
Fed’l comp’n . 11,321,233
Interest,taxes,
Other income. 3,026,424 4,288,829
rentals, & c. 7,754,823 6,889,854
Dividends . . . 6,060,800 6,060,800
A
p r
., 1 9 1 9 .1
* 8 o °S S m“ ‘
APrivate
Control.
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
CF'or abbreviations, etc., see notes on first page]
Miles Date
Road Bonds
Par
Value
Amount
Outstanding
Rate
%
$1,000
$332,000
1.00C al.l35,00C
1.00C
125.00C
1.00C
600,000
1.00C
650,000
1,001
alOO.OOC
1.00C
a315.00C
1.00C 4,032,000
500 &c 25,894,000
100 &c
5,202,100
1.00C
600.000
1.00U
626,000
1,000
752,000
4g
5 St
6
6e
5g
5
5
4 ff
4 K
5g
4
5
4«
J
J
M
J
M
J
J
M
M
M
F
J
F
1,000 a l,262.000
1,000 a l,601,000
1,000
a883,000
1.000
8436,000
5g
5g
5 g
4H
4g
When
Payable
73
Last Dividend Places Where Interest and
and Maturity
Dividends are Payable
Long Island (Concluded) —
S t e w a r t L in o m t g e o t 1 9 3 2 l o r $ 5 0 0 ,0 0 0 g o l d . . C e '
D e b e n t u r e ( $ 1 , 5 0 0 , 0 0 0 ) g o ld n o t s u b j e c t t o c a l l . . . :
N e w Y o r k & F lu s h i n g fir s t m o r t g a g e a s s u m e d .C e :
B k l y n A M o n t 2 d M a s s u B u s S t a t o E ’ t p ’ t & b r s C e .z o 1
18 1892
1894
2 1880
76 1888
19 1887
6 1893
21 1895
316 1899
316 1903
__ 1917
1908
1914
1917
Guard nteed.
30 1892
19 1885
__ 1887
10 ’86-’91
Montauk Extension $600,000 1st M assumed
Unified M gold callable at 110 $9.673,000_Usin.x
Refund mtge $45,000,000 gold gu p & 1 „ Eq.xo
Debentures call aft 5 yrs 10214____Usm.yyxc’ &r*
Equip trust 8er A, B & O, *100,000 each ser due yrl:
Rq tar Ser A $106,000 due yly to '23; then *98.000 yb
Equipment trust Serlos B *94,000 dua.yearly____
Leased and Controlled Lines, Principal or Interest
L I RR No Sh Br cons M $1,425,000 gu pAl.Ce.vc*
N Y B & Man B 1st cons M $1,726,000 gold gu. Cev
N Y 4 Rock Beach 1st M $984,000 guar p & 1___ Ce
P P & C I 1st and 2d ($96,000 seconds) guar p & i.v
Los Angeles & Salt Lake RR—
San Pedro Los A & Salt Lake 1st M *70,OOO.OOO.Qx 1,033 1911
Louisiana & Arkansas—Stock $7,000,000 authorized
302
First mortgage $7,000,000 gold (text)___ Q.xc’ &r
302 1902
Equip notes *8,000 due annually__________________
__ 1914
Louisiana & North West RR— Underlying M gold _x
35 1895
First mortgage $10,000,000 gold................. MSt.xc*
115 1905
Louisiana Ry & Nav— First M gold_______ xxx.F.cAr
334 1903
•Louisiana Southern— 1st M g red at 1 0 5 _______ Cc.xo
45 1897
Now mortgage__________________________________
Louisiana Western— First mortgage gold______ Ce.zo*
165 1881
Louisv Hcnd & St Louis— 1st M $2,500,000 gold d.z
182 1896
First Oonsol M *5,000.000 gold__________________
182 1915
Louisv & Jeff Bridge & RR — $5.000,000ggup& i.xc*
1895
a In hands of public: total Issue shown In left-hand c olumn ; balan ce
g There are also *104,000 2d M . 6s not guaranteed.
1,000 59,022,000
100 6,000,000
1,000 5,196,000
1,000
20,000
1,000
100,000
1,000 2.150,000
1,000 10,361,000
500
250.000
750.000
1,000 2,240,000
500 2.500.000
700,000
1,000 4.500.000
G U A R A N T I E S . — I n a d d i t i o n t o g u a r a n t e e d b o n d 9 in t a b l e a b o v e g u a r
a n te e s 5 % o n $ 6 5 0 ,0 0 0 N e w Y o r k B r o o k ly n A M a n h a t t a n B e a c h o r e f ’ sto c k
a s p a r t r e n t a l : a ls o 6 %
on $ 5 0 ,0 0 0 P . P . A S o . Br sto c k an d l ( ) v
on
$ 8 2 ,5 0 0 o f th o N o w Y o r k & C o n e y Is la n d s t o c k a n d 6 % o n 3 4 4 0 0 0 1st
M . 6s o f M o n ta u k S te a m b o a t C o ., d u e A p r . 1 1 9 2 6 .
* * ’ U W 181
E A R N I N G S . — 12! r a o s . J 1 9 1 8 - ............G r o s s , $ 2 2 , 2 1 3 , 4 4 5 : n e t , $ 5 , 4 9 5 , 9 6 1
J a n . I to D e c . 3 1 .
1 1 9 1 7 ............... G r o s s ,
1 7 ,2 8 6 ,1 7 9 ; n o t,
5 ,3 2 5 ,6 4 4
R E P O R T .— R e p o r t fo r y e a r 1 9 1 8 , s e e “ C h r o n ic le ” o f A p r il 2 6 1 0 1 0
-Present Basis-------------- -----------old Basis------------1918.
1917.
1917'
|q i ft
O p e r a t i n g r e v e n u e .............$ 2 2 , 2 1 3 , 4 4 5 $ 1 7 , 2 8 6 , 1 8 0 $ 1 7 , 2 8 6 1 8 0 $ 1 4 9 7 1 8 3 0
N e t ( a f t e r t a x e s ) .........................- .................................................
4 379 807
4 lfir t8 4 K
U . S . c o m p e n s a tio n a c c r . $ 3 ,2 2 1 ,9 4 9
____________
,8 U /
4 ,lo 6 ,8 4 o
R e n t s , & e ---------------------------2 9 9 ,8 6 5
2 8 9 ,3 9 5
4 0 5 ~ 4 7 (j
" 459 *8 19
U n fu n d , s e c u r s .& a c c t s .
2 6 2 ,4 3 4
2 5 4 ,1 7 5
2 5 3 ,9 9 9
227^379
G r o s s i n c o m e ____________ $ 3 , 7 8 4 , 2 4 8
Deduct— •
$ 3 6 6 ,6 7 8
------------------____________
1 7 1 ,1 8 1
2 ,1 4 9 ,3 4 3
2 0 0 ,4 0 7
1 2 3 ,0 9 3
D
D
S
D
N
J
J
S
S
N
A
D
A
June 1 1932
June 1 1934
M ch 1 1920
June 1 1938
M ay 1 1937
Jan 1 1943
Jan 1 1945
M oh 1 1 9 4 9
M ch 1 1 9 4 9
M a y 1 1937
F e b 1 9 2 0 -2 1
J u n e 1 9 2 0 -2 4
F e b 1 9 2 0 -2 7
T reas P enna R
do
do
do
do
do
do
do
do
do
F id e lity T r u s t
F id e lity T r u s t
F id e lity T r u s t
Q— J
A A O
M A S
Various
O ct 1 1932
O ct 1 1935
S ept 1 1927
1 9 2 6 -1 9 3 1
T reas P enn R R C o , N
do
do
do
do
do
do
J
J u ly 1 1 9 61
S e p 1 5 ’ 11 I
Sept 1 1927
T o 1923
1 1945
Apr 1 1 93 5
&
J
5g M
6
A
5g J
5g A
4M g J
5g M
A
A
A
A
A
A
S
O
J
O
J
S
6
5
6
4
A
&
J
J
g
g
g
g
J
J
M A S
H%
R C o, N Y
do& Lon
do
do
do
do
do
do
do
do
C o , P h l la
C o , P h l la
C o , P h l la
$ 4 ,3 6 3 ,1 8 3
$ 5 ,0 3 9 ,2 7 7
$ 4 ,8 3 7 ,0 3 6
$ 6 1 2 ,8 9 7
------------------____________
2 0 3 ,2 8 7
2 ,4 2 8 ,5 9 7
1 3 6 ,1 9 7
1 1 2 ,9 0 4
$ 6 1 2 ,8 9 7
2 2 1 ,6 5 2
4 9 5 ,4 8 8
2 0 3 ,2 8 7
2 ,4 2 8 ,5 9 8
1 3 6 ,1 9 7
7 1 ,8 5 7
$ 6 6 8 ,6 2 5
2 0 4 ,1 6 9
4 8 6 ,1 9 0
2 0 0 ,6 1 5
2 ,6 4 5 ,9 2 0
3 6 0 ,8 7 3
2 9 .1 7 1
Total deductions___ $3,010,703 $3,493,882
nrv.
$ 4 ,1 6 9 ,9 7 6
S u r p lu s .......................
$773,545
$869,301
$869
301
«94? 47o
$ 8 6 9 ,3
01
Federal Manager, Ralph Peters, Penn. R lt. Station, N Y Citv Pre«
Samuel Rea V.-Prcs. A Treas., Henry Tatnall, Broad Street Station’
Phlla.— (V. 106, p. 2222, 2450. 2649 V. 107, p. 181, 291,402 )
Statlon>
★ LOS ANGELES & SALT LAKE R R .— (See Map Union Pacific V—
From Salt Lake City, Utah, to Los Angeles, on the Pacific Const 811 m
of main line, with branches, aggregating in all 1.154 miles; from Daggrtt
to Riverside, 111 miles, Is trackage over A. T . & S. Fe and Sou Pac
steamship connection via Hawaiian Islands to China, Japan and M m lia
V. 81. p. 1551; V. 82. p. 1323: V. 91, p. 590. Salt take City terminals"
V. 78. p. 920. 1193. 1356; V. 77, p. 38, 148, 695; V. 78. p. 1303- V 70 n
1024. Las Vegas A Tonopah R R ., allied, runs from Las Vegas Nev ’ Pri
Beatty. 119 miles. V. 81, P- 1175; V. 98, p. 1920.
v e g l Nev" t0
. In 1918 purchased tho 9-mllo Riverside Rialto A Pacific RR free of all
liens, mortgages, Ac. V. 105, p. 909, 997; V. 106, p. 189.
’
a
Name changed from San Pedro Los Angeles & Salt,Lake RR in Au»
1916. V. 103, p. 759.
aus"A D V A N C E S” AND “ STAN DARD R E T U R N .” &c .— Seo nago 5
Annual compensation under Federal contract, $3,414,750.
*
STOCK.— Auth., *25,000.000; par, *100; all issued; held In voting trust for
5 years (from 1903) by Farmers’ Loan & Trust Co. in Joint Interest of Union
Pacific and Wm. A. C l a r k . I n Dec. 1912 the U. S. Supreme Court held
valid control by Union Pacific. V. 95, p. 1542.
C “ eId
“ ^ob.1" ^ T O ? v . pw i f p . l l :
;
,7 ° * ' • " • V W i . 4
EARN IN G S.— 12 m os.,/1918-.Gross, $14,517,378; net bef. $3,645 690
Jan. 1 to Dec. 3111917-Gross, 12.766,>23; taxes,
5 035 497
REPO RT.— For years ondod Dec. 31 1917 (V. 106, p. 822):
Gross.
Net
Other Inc.
Charaes
Bal <?„,
1917............ $12,766,723 $5,035,497 $108,132 $3.699 004 - $1 444 626
1916 ---------- 11,656,885
4,843,876
113,856 3,432,271
l|625’461
Pros., W. A. Clark; V -P ., J. p . Farrell and 11. V. Platt; Treas W t
G u a r a n t y T r u s t C o . N /Y
C h e c k s m a ile d
G u a ra n ty T r u s t C o , N Y
B oody, M cL
A Co, N
Y
See text
R W ln th r o p
1965
& Co, N Y
S P C o , 1 2 0 B 'w a y , N Y
R k o f A m e r . N Y ; 4 L o u is
N ew Y ork
J P M organ & C o, N Y
part, is subject to redemption at 110 and Interest on anv Interest date
Annual sinking fund *75,000 per ann. to buy bonds at 110 and lnt. or under
otherwise, to be invested. Of the $5,196,000 issued Dec. 31 1917. $958,000
were held aHve in the sinking fund with cash, &c.; total credit balance to
sinking fund, $958,411. See V. 101, p. 2071.
EARNINGS.— 12 mos., (1918-------- Gross, $1,671,651; net, $67,377
Jan. 1 to Dec. 31.
11917......... Gross, 1,569,721; taxes, 332,432
REPO RT.— For year ending Dec. 31 1917 in V. 106, p. 2009.
i ni 7
Net.
Charges,&c.
Balance.
...............................*1.658,042
$417,804
*315,714
*1021)91
1916---- ---------------------- 1,570.948
424.367
300,845
123.7>22
m Pres-, w m . Buchanan. Texarkana, Ark. Federal M gr., Wm. N. Neff.
t o * . West of Miss. River, J. L. Lancaster, Dallas; Fed. Treas.,
W. I<. Wright, Texarkana.— (V. 106, p. 2009; V. 107, p. 181, 1192.)
A LOUISIANA & NORTH WEST R R .— Owns Magnolia, Ark., to Natchii00™*- Ha.. 115 m.; trackage. Magnolia to M cNeil. 6.4 m. On Aug.22
1913 Geo. W . Hunter was appointed receiver. . V. 97. p. 521, 595. Fore
closure pending in April 1919. V. 108, p. 1275.
Stock out. *2,300,000; par. $100. Of 1st 5s of 1905 (*10.000,000 auth.
issue) ,*150,000 is reserved to retire the old bonds. V. 82, p. 628; V. 85.
P -1 462- Car trusts Mar. 20 1919, $16,900: loans and bills payable, $750,§•>3. , f o r year ending June 30 1916 (fiscal year now ending Dec. 31), gross,
*273,137; n et,,*21,937: 1914-15, gross, $245,039: oper. def., $17,14>; inti,
taxes, A c., $151,076; def., $168,223. For cal .y ea r 1917, gross, $302,667:
net. aft., tax., $45,963. Receiver, Geo. W. Hunter, st. Louis: Counsel,
W. E. Hemingway, Littlo Rock, Ark.— (V. 97. p. 595; V. 108, p. 784.)
A LOUISIANA R Y. & NAVIGATION CO.— Owns New Orleans to
Shreveport, La., 303.90 mllos; Aloha to Winnfleld, 27.60 m.; McNeely’s to
Gravel Pit. 2.84 m.; total, 334.34 miles. Stock auth., *12,000,000: out
standing 1918, $8,131,000; par, $100.
5
On Aug. 9 1918 passed out of Federal control.
"AD VA N C E S” AND "STA N D A R D R E T U R N ," A c.— See page 5.
EARNINGS.— 12 m os.,/1918—Gross, $3,078,059; net (before $492,085
Jan. 1 to Dec. 31.
11917—Gross, 2,497,535;
taxes),
759,483
Year ending—
Gross.
Net.
Other Inc. Int.,Tax.,&c. Bal Def
B E : II
5.2! ; 62!
57: “ ’620
S25®: 82»
E Pros.1, Wm. Edenbom ! HibernU Bldg3 , New (Means; V-°P^V . Coufhfim
Treas., Paul Sippel, Shreveport; Sec., J. J. Tippin.— (V.107, p. 802, 1191.)
★ LOUISIANA SOUTHERN R Y .— Owns New Orleans, La., to Pointe-a-la
Hache, La., 45 m.; Poydras to Shell Beach, 16 m.; total. 67 m. Steam
for freight and gasoline motor cars for passenger service. Operated since
£,UP°
, yo?^0Tw Orleans Texas A Mexico R y. under 12-year lease made
Feb. 1911 to St. L. & San Fr. In Jan. 1901 the United R y. & Trading Co.
of New England acqu red over 95% of the stock and bonds, that company
also owning the Kenilworth Sugar Estates, 10,000 acres. V. 76, p. 706.
Stock. $1 JIOO.OOO; par^lOO. Divs.in 1900-01, 7% ; 1901-02, 7 H % ; 1905-06,
4>4%. Year ending Dec, 31 1917 (as reported by lessee), gross, $235,685;
net, after taxes, $81,668. Deduct hire of equipment (net), $5,759; rental,
*56,807; other, $589; balance, surplus, *19,580. This last item under
torms of lease is applicable first to bond interest, second to dividend o f not
exceeding 2 44 % on stock, tho balance if any to bo divided equally between
lessor and lessee. In April 1919 there were reported $1,000,000 bonds issued
thorized. Pres., J. S. Pyeatt; See., Treas. & Aud., M . Eckert.
Office, New Orleans, La.— (V. 95, p. 618.)
★ LOUISIANA WESTERN RR.— (.see Map oj Southern Pacific).— Owns
from Lafayette, La., to Sabine River. 105 miles: Abbeville to Mamou. 68 m •
to .Lake Arthur,
34 m.,
m.; total,
208 uiuw.
miles. VJJCiO
Operated
lndenenj'Mallard
——~Jet.
‘
vuvai, avo
UUU IL
U
ltJUBDrinntlv
xr
d
e n tly . A
Aiimini
n n u a l pnmnpno*if-inn
c o m p e n s a t i o n nn/4n»
u n d e r F e d e r a l oAninmi.
c o n t r a c t , oo'Tr
$ 8 7 5 , 1i«o
78.
V . 108
.}• 9 7 4 .
» a c i f i c unuo
1-/1V
UnI1U
S o u th e rn P
o w n s au
a l l tvuu
h o $ 3 , 3 6 0 , 0 0 0 oiolk
s t o c k .,
D i v i1U
de
d sS’’--------In 1 9 0 5 -0 6 a n d 1 9 0 6 -0 7 , 1 0 %
y e a r 1—
l y ; in 1 9 0 7 - 0 8 , 8 5 ~
% ; *in --------------1 9 0 8 -0 9
2 0/
^p;* . 1 9 0 9 , 1 0 a n d 1 9 1 0 - i1i1,, lO/o*
l A ; 1U11
1 9 1 1 %
1
0 % : iy
1 9iZ1"lo,
2 ^ 0lUvnl
% ; iyio-14
lO/o,
1()% 1914-15. 10%; 1915-16,15%; 1917,15%. Year ending Dec. 31 1918
gross, $4,348,151; net, after taxes, $1,745,805. For cal. year 1917 gross’
$3,653,550; net, after taxes, $1,480,230; gross Income, $1,615,126; charges
(Inch int. on bonds and notes, $134,400), $154,999; dividends (15%)
— (V. 1UJ, p. lZW* V. 107,p. 402.), F cd - M g r” W ‘ b - Scott- H ouston, Tex!
★ LOUISVILLE HENDERSON & ST. LOUIS R Y .— R O A D .— Louisville
to Henderson, K y ., 144 miles (including 6 miles trackage); Irvington to
Fordsville, K y., 44 miles; L. & N. trackage, Henderson, K y., to Evansvllle. Ind., 12 mllos: total, 200 miles. Louisv. & Nashv. on Dec. 31 1 9 1 7
owned *1,544,276 of the *2,000,000 5% non-cum. pref. and $1 741 871 of
the $2,000,000 com. (par $100). V. 94, p. 207; V. 95. p. 1274; V. 96 p. 653
In Oct. 1915 filed a $5,000,000 1st consol. M . bond, $2,710,000 reserved
to retire 1st M . 6s at maturity; *700,000 sold forthwith and $1,590,000 re
served for future extensions and additions. V. 103, p. 1882- V, 101 n
—°(Vni o 7 Cp. (1837;‘ v ” l08*. p 3780 M gr" E " E ‘ Calvin’ ° maha’ N'0^
1 3 7 0 . There are *90,000 4J^% equipment notes of 1912, Series A, due
★ LOUISIANA & ARKANSAS R Y .— Owns from nope. Ark. to Tioga
$30,000 yearly Sept. 1919 to 1922 and (Doc. 31 1917) $110,000 rnisc. obligs
La. 192.89 miles less 3.98 miles not operated Packton to Wildsvillo Jet ’
•’ADVANCES" A N D “ STANDARD R E T U R N ,” &c.— See page 5
La. 53.32 in.; Minden La. to Shrovoport 27.15 m. Trackage: Concordia
Annual compensation under Govt, contract, $343,915. V. 108, p. 1165.
Junction, La., to Vidalia, La., 8.92 miles, connecting to ferry across
Mississippi with Illinois Central and Mississippi Central: Tioga La to
EARNINGS.— 12 m os.,/1918—Gross. $2,858,463; net (before’ $853,644
Alexandria, La., 7.33 miles; and on the St. Louis and Southwestern, noar
Jan. 1 to Dec. 31.
11917..Gross, 2,226,650;
taxes),
774,329
Shrovenort, 2.01 miles. Rock Island Co. uses 36 miles, Packton, La. to
REPORT.— For year ending Dec. 31 1917, in V. 106, p. 2751, showsI iuovillo, La., under trackago contract, and St. Louis Southwestern tits
Cal. Yrs.—
Gross.
Net.
Other Inc. Int.,Rents,&c. Surnlus
songor trains tho Shreveport terminals under a 25-year lease
V 93 p 527
1917...........$2,226,649
*682,005
$15 248
$334?836
*36?,4?7
"A D V A N C E S" AN D “ STAN D ARD R E TU R N ,” &c.— Seo page 5, * 1916______ 1,751,114
528,730
11,748
281,067
59 411
1915 ........... 1.447,836
294;i66
51689
249:955
49 900
DIV ID E N D S.— 1906 to 1909. 3% y ’ly: then to Sept. 15 19M 2 44 % v ’lv
Pros.,
R.
N.
Hudson;
Treas.,
J.
H.
Ellis;
Federal
Manager.
W. L
Nono since to, It Is understood, April 1919. V. 102, p. 1 5 3 . ’ n / 7 ly ‘
Mapother, Louisville, K y.— (V. 106, p. 2751; V. 108, p. 1165.)
B O N o s .-T h e unissued first 5s (total limited to *7,000,000) are reserved
★
LOUISVILLE
&
JEFFERSONVILLE
BRIDOE
&
R
R
.—One-half
mile
for betterments, equipment and extensions, of which *1,000.000 reserved
for bridges across Black and Red rivers, and tho balance limited to *20 (inn ong; approach^ 2 ml lea; overhead viaducts l x miles, with connecting linee
,n
A
0
£
)”
e8
In,
Louisville
and
about
60
acres
In
Jeffersonville.
per mile of completed railroad. The entire amount outstanding, but no
U. S. R R . Administration M ay 1918 sanctioned capital outlays, 5155,000.
Y
under unified mtg e.
0 0 0 , g u a r , a s to p r ln . a n d ln t . b y th e P e n n . R R . , w ere s o ld , th e p r o ce e d s to
b e u s e d f o r v a r io u s I m p r o v e m e n t s a n d a d d i t i o n s in c o n n e c t i o n w it h t h e
P e n n s y l v a n i a t u n n e ls t o a n d t h r o u g h N e w Y o r k C i t y , p r in c ip a lly f o r a d d i
t io n a l t e r m in a l fa c ilitie s a t B a y R i d g e a n d L o n g I s l a n d C i t y a n d f o r a d o u b l e
t r a c k c o n n c c t i o m v i t h th o N e w IT a v e n r o a d , f o r a d d i t i o n a l t e r m i n a l s , t r a c k s
e q u i p m e n t , a n d t o r e tir e o ld b o n d s .
V . 7 8 , p . 5 8 3 , 1549: V . 79. p. 7 9 6
V . 8 0 , p . 1111; V . 81 . p . 2 1 1 ; V . 8 2 . p . 8 6 8 ; V . 9 2 , p . 5 2 7 .
T h o N . Y . S to c k
E x c h a n g e in J u l y 1 9 1 8 a u t h o r i z e d t h e l i s t i n g o f 3 4 , 0 5 3 , 0 0 0 g u a r a n t e e d 4 %
R e f u n d i n g M t g o . b o n d s , w h e n a n d a s is s u e d In lie u o f t h o r e m a i n i n g $ 4 0 5 3 , 0 0 0 U n i f i e d M t g e . 4 s , i n c r e a s in g t h o a m o u n t t h e r e o f
R e f . M t g e . t o $ 9 6 7 3 , 0 0 0 a n d a l s o i n c r e a s in g t h o R e f u n d i i
to 3 2 9 ,6 6 8 ,0 0 0 .
V . 107, p . 402.
V . 106, p . 2011, 2222.
T h e Unified Mortgage Is lim it e d t o t n e a m o u n t n o w o u t s t a n d i n g
Bonds
a r e s u b j e c t t o c a ll a t 1 1 0 in w h o le o r ln p a r t .
S ee R e fu n d in g 4s a b o v e .
V
6 8 , p . 6 1 8 . M t g e s . on real e s t a t e , $ 1 ,7 6 7 ,6 8 0 .
V . 76, p. 266; V . 85 p . 160
V . 8 9 . p . 5 2 9 . 1411: V . 9 0 . p . 6 9 8 , 1040; V . 9 3 , p . 1022: V . i0 2 . p . 6 0 9' V
103, p . 2079.
Debentures o f 1 9 1 7 . s e e " p l a n " a b o v e a n d V . 1 0 4 , p . 2 4 5 2 .
L e a s e o f o t h e r r o a d s ____
H i r e o f e q u i p m e n t ----------J o i n t f a c i l i t i e s _____________
M is c e lla n e o u s r e n ts , A c .
B o n d i n t e r e s t _____________
O t h e r i n t e r e s t _____________
W a r t a x e s , & c _____________
&
&
&
&
&
&
&
A
A
&
&
&
&
Aim . m in | *g 0
° s m“ ‘
R A IL W A Y
RAILROAD COMPANIES
[For abbreviations, Ac., see notes on first page]
STOCKS A N D
Miles Date
Road Bonds
Louisville & Nashville—Stock $72,000,000 -------------E H A N 1st M Bend to Nash g drawn 110_.Ce.xc*
155
L A N G o n M ($765,000called 110 June 1 T 9 ).C e.xc*
803
L 0 & Lex Gen mtgo told (V 63, p 1010)----- (I.xe*
176
Pensacola Dlv 1st M gold (drawn at 105)___ F.zo*
45
New Orl A Mob Dlv 1st 11 N O to Mobile g __ F.ze*
141
Second mortgage g o ld ..------------------------------ xo*
141
Southeastern & St Louis Dlv tlrst mtge gold__ xc*
208
Second M gold East St Louis to Evansv A lir.xc*
208
First M (50-year 5s) $15,000 per mile gold_.Uz.xc*
202
First mtge collateral trust ($7,000,000) gold._F.zc*
Unified mortgage for $75,000,000 g — Ce.xc* Ar* Text
. Mobile A Montgomery Joint M $5,000,000 g..C e.xc
179
Pen A At 1*1 XI gold drawn 110 assumed...... _.xo*
160
Henderson Bridge Co 1st U gold drawn 105.Ce.xc*
10
Nashv Flor A Shell 1st M g assumed lu 1900.Ce.zc
105
Paducah & Mem Dlv 1st XI $5,000,000 gold. Ba.xc*
254
Sou A Nor Ala 1st M (V 97, p 1204, 1426)g gu Ce.xc*
202
Gen cons M S25.00O.O00 g guar— Uz.xc*&r*
202
Newp A Cln Mr 1st M g s t assum gu by Penn Co F.x
L A N— Southern Ry Monon Collat Joint M $15,__
600.000 (see text) call 105__________ G.xc*Ar
Lexington A Ka*t lit M $20,000,000assumed N.yc*
213
Kentucky Centrnl 1st M ($7,000,000) gold_ .Mp.zc*
247
Atlanta Knoxville A Northern tlrst mtge gold.Ce.x
228
do
consol M gold $10,000 p m .U s.x
228
L A N— Atl K AC Dlv M $50,000.000. .. Us.xc* Ar*
870
L A N Term M $3,000,000 gold guar jointly .Ba.xc*
Kqulpt certs g sor A due $325,000 s-a.........FL.xc*
do
Series B $7,323,000 (due semi.ann) __
Louisville New Albany & Chicago— See Chicago India napoll
Lykens Vail RR <Sc Coal Co— Stock— Rental nays4%
19
Macon & Birmingham— First M $500,000 g . . .Oll.xc
97
Macon Dublin & Sav— IstM $1,840,000 g gu N.xxc*
93
Alncon Terminal— 1st M 83.000.000 g gu_Col<’ *Ar*
b to j: Also held in treasury Dec. 31 1918: b $10,000; c $3,
k to t— Also in treasury Dec. 1918.
k $100 000.
1$217,
r $1,000. s $5,740,000. t $247,500.
Par
Value
$100
1 .0 0 0
1879
1 .0 0 0
1880
1 ,0 0 0
1881
1880
1 .0 0 0
1880
1 .0 0 0
1 .0 0 0
1880
1 .0 0 0
1881
1 .0 0 0
1881
1 ,0 0 0
1887
1 ,0 0 0
1888
1890 1,000 Ac
1895
1 .0 0 0
1881
1 .0 0 0
1881
1 .0 0 0
1887
1 .0 0 0
1896
1 ,0 0 0
1 ,0 0 0
1886
1913 1.000 Ac
1895
1 .0 0 0
1902 1,000 Ac
1015
1 ,0 0 0
1887
1 .0 0 0
1 .0 0 0
1896
1902
1 .0 0 0
1005 1,000 Ac
1002
1 ,0 0 0
1‘»I3
1 ,0 0 0
1919
8 A 1. ulsvlllc.
Rate
%
Mobile <fc Montgomery Louisville & Nashville Joint mortgage Is for
$5 ,0 0 0 ,0 0 0 : 51,000.000 reserved for Improvements
v 61. p 106.750
Kentucky Central 4s. V. 45, p. 372. Lewisb. & Nor., V. 101, p. 1272.
Louisville A Nashville Terminal As.—Jointly guaranteed, prtu and Int.;
by L. A N. and Nashv. C. A St. L. V. 8 8 . n. 1313. Co. owns $101,000.
Tho Louisville A Nashville Southern Ry. Morion Collateral Joint Cold 4%
bonds are secured by $9,796,900 o f tho $10,500,000 Chic. Indianapolis &
Loulsv. common and $3,873,400 of tho $5,000,000 prof, stock. V. 74 n
1138; V. 76. p. 593. Of the $15,500,000 Joint bonds $11,827,000 had teen
Issued to Dec. 31 1918. each company being liablo for $5,913,500. but own
ing thereof $15,500. leaving outstanding for each $5,898,000. Tho re
mainder Is roservod to acquire remaining “ M onon” stock and for limits Ac
Tho Atlanta Knoxville A Cincinnati division 4s (550,000.000 autnorYzcrt
cover 870 miles. Of the bonds, an equal amount were reserved to retire
at maturity underlying bonds, viz.: Kentucky Central 4s, 50.742.000
Atlanta Knoxv. & North, bonds, 51,500.000. The line from Livingston to
Jelllco, 61 miles, Is subject to prior lien of Unified uitge. V. 80. p. 872' V
84, p. 1428: V. 02. p. 1178. 1S11. 1565; V. 96, p. 716. 1 0 2 2 .
’
'
Of tho South A North Alabama RU. Gen. Consol. 5s ($26,000,000 auth
Issue), $7,400,000 have been sold, guar., prln. A lnt., by the L. A N ;
$10,000,000 are reserved to retire the 1st 5s of 1886; remainder for Im
provements, equipment, Ac. V. 08. p. 464, 158. 1001.
Lexington A Eastern 6 s wore assumod In 1917 (authorized.$20,000,000)
V. 101, p. 1272; V. 102. P- 1163; V. 104 n. 1489; V. 106, p. 296, 396.
In April 1919 was preparing to issue $7,323,000 Equip, trusts, scries B.
Interest rate not to oxceod 6 % , principal due in 30 semi-annual Installments
V. 108, p. 1390.
,
,
0
Annual compensation under Government contract, $17.310.495.— V
108, p. 1165. 1390EARN S.— 12 m o s . , ( 19 18..Gross, $101,392,792; net (beforo$21,835,821
Jan. 1 to Dec. 31-11917..Gross,
76,907,387; taxes),
23,908,629
REDOUT.— Year 1918, V. 108, P- 1382, and in full, V. 108, p. 1620
„
1918.
$71,899
Corp. expenses.................
"Standard return” ------Income from oth. sources 2,512,826 Taxes__ _________ _ ____
Q2\ 220
Accrued premiums on
’
Gross income__________ $19,823,321
sinking fund b o n d s ...
96 815
17()'319
Sinking funds, A c____
D n n t r . R" T . ! ° r.. lT - - $222,198 Dividends (7 % )............... S.OIOIOOO
Misc. rents A tax accruals
42.002
Bond, A c., Interest------- 7,449,828
Balance, surplus.........$5,809,037
_____________
_ 1917.
1916.
1915
Calendar
Years—
Railway rovonues----------------- --------- § ™ ,9 ;r8 , 1 2 0 354,026,979
Not, after taxes,
----------------- $18,775,430 $20,439,866 $13,275,690
Add— Hire of equipment..................... 3,412,525
1.970.088
918,124
884,959
ltonts, A c------------ ----------------------944,284
Dividend In com o.--------- ------------ 1.151.133
1,182.797
764,133
Income from funded securities— «
344,356
404.114
328,774
do from unfunded socur., & c._
501,723
808,147
685,306
Gross Incomo......................................$24,978,643 $25,689,971 $16,916,312
Deduct— Rents, A c . . - - . - ------------------ $1,019,598 $1,006,619 $1,066,165
Intorost on fundod debt---------------- 7,495,030
7,621.067 7,618,878
Sinking funds-------------------------82,515
99.474
94,367
Dividends...................................... (7%)5.040.000 (7)5,040.000 (5)3.600.000
Balanco, surplus--------------------------$11,341,499 $11,922,810 $4,536,902
OFFICERS.— Chairman, Henry Walters, N. Y .; Pres., M . II. Smith
Sec. and Treas., E. S. Locke; Federal Manager, W. L. Mapother, Louisville’
Ky. Office. 71 B'way, N . Y .— (V. 108. p. 1275, 1390, 1603.)
When
Payable
$72,000,000 7 In 1918 F A
150.000
.1
A
6 g
d 877.000
6
J &
3.258,000
4M g M A
i71.000
M A
6 g
J A
b4,090.000
6 g
1 .0 0 0 ,0 0 0
J A
6 g
3,500.000
M A
6 g
M A
c2.997,000
3g
XI A
d l ,749,000
5g
U A
e4.705.000
5g
J A
f64.766.000
4g
4,000.000
414 g M A
F A
j 1,118.000
6 g
U A
0 g
2646.000
F A
k 1996.000
5£
P A
14.619.000
4g
F A
m9,292.000
6 9
116,702.000
4 A
5g
4H g l A
1,344.000
o5.808.500
p7.850.000
q 6.702,000
r999,000
500,000
, s24 745,000
2,500,000
2,925.000
See text
4g
6 ft
4g
5g
4g
4g
4g
5K
4
20
599.120
1 .0 0 0
500,000
5g
1896
1 000
1.529.000
1907
6 g
1 .0(10
1.600.000
1915
5£
0 0 0 ; d $15,000; c $424,000; f $3,878,
m $708,0 00. 11 $3,3 91,000.
000.
Stock, $1,425,000: mice. for $5,000,000: bonds for $500,000 are reserved
for future construction, Ac.; the bonds are guaranteed jointly and severally
by the Chesapeake A Ohio and Cleveland Cincinnati Chicago A 8 t. Louis, In
whoso Interest the stock U owned, and any deficit Is payable In the propor
tion of ono-thtrd and two-thirds respectively. Federal M gr., E. M . Cosliin.
Cincinnati, O. See V. 60, p. 130; V. 61, p. 327, 559: V. 62, p. 84.—
(V. 89, p. 529.)
★ LOUISVILLE & NASHVILLE RR. —(See M ap.)— BOAD.— Operates
main linn. Cincinnati. O.. to New Orleans. La.. 92t ru.: branches to St
Louis, Memphis. A c.. 4,092 in.: total. Doc. 31 1918. 5.013 miles, viz.
Miles. „
Miles.
Owned, property doodod_____ 4,243 Oporatod undor oontract______
39
Entire capital stock owned___ 450 Undor trackage arrangements.. 143
Operated under le a s e ...__ 134
do
(owiind but leased).
6
Reporting Separately (Making 7,628 Miles Owned and Associated Jan. 1 1919)
Nashville Chatt. A 8 t. Louis----- 993 Other lines_____________________ g
♦Georgia Railroad System-------- 563 Owned but luascd to other cos . . . 21
♦Louisville Heud. & St. Louis__ 182
do
Paduoah A Mem. D lv __ 24>
•Chic. Indianapolis & Loulsville.661 Deduct (incl. In trackage above)._ 62
* See separate statements for these companies.
Control bu Atlantic Coast Line.— Late In 1902 tho Atlantic Coast Lino UR
acquired $30,600,000 of tho (then) $60,000,000 stock and owns $36,730 080
of the present $72'.gOO.OOO •took, but the roads are operated Indcpendantly
V. 74. p. o«5U, lUJX; V. 70, p. too, loliU.
DIVS. / ’01-’04. ’05-'07. 1908. ’09. ’ 10 t o ’ 14. ’ 10. ’ 18. ’ 17. ’ 18. ’ 19
Since 190015 y ’ly 6 y'ly
5K
5 44
7 y'ly
5 6.
7
7
314
Also In 1908 1% In Louisville Property Co. stock
V 8 6 . p. 229. 421;
RONDS. Eo. I I end. & Nash. 6 s are now drawn at 110, $150,000 yearly.’
The General M ortga ge bonds o f 1880 are called at 110 each year; $765,000
will be paid June 1 1919. v. 108, p. 1275.
"Unified" mortgage. $75,000,000. of which $41 .#17.660 was reserved to re
tire all prior Ileus (none of the prior liens can be extended), tho balance for
Improvements, extensions (at the rate of 532,000 per mile, Includin', equip
ment). and for other purposes. The mortgage covers (besides 1,994 miles
of road and equipment), 526.473,b06 stock of companies controlled aud
Amount
Outstanding
AIM rate
Control.
BONDS
*
A
I
1
M
M
1
J
s-a
j
Last Dividend Places Where Interest and
and Maturity
Dividends are Payable
A
D
D
N
S
Fob 101919 3 ^ 71 Broadway. New York
Deo l 1919
June 1 1930
clo
Nov 11931
do
Moh 1 1920
.1 Jan 1 1930
J Jan 1 1930
(lo
s Uch 11921
do
s Mch 1 1980
N May 1 1937
do
N Nov 11931
do
J July l 1940
do
S Sept 1 1945
A Aug 11921
S Sept 1 1931
do
A Aug 1 1937
A Feb 1 1946
do
A Aug 1 1936
do
do
O Oct 1 1963
do
J July 1 1945
do
July 1 1952
P
J P Morgan A Co, N Y
A O Apr 1 1005
A J July 1 1987
A D Dee 1 1940
do
A S Mch 1 2002
do
A N May 11955
do
& D Dec 1 1952
do
A I) June'19-June’23
do
to *34
J Jan 2 1919 2%
J July 1 1946
Jan 1 1947
j
A J July 1 1965
0 0 0 ; k $1 .329,000
i SI.
0 $15. 500.
p $2,645
j
j
75
A
A
A
.1
Office Broad St Sta.Phlla
No coupons
New York Trust Co, N Y
Columbia Trust Co, N Y
0 0 0 : ] $126,000.
.000.
a $40,000.
LYKENS VALLEY RR. & COAL CO.— Owns from Millersburg, Pa.
to Willlamstown, Pa., 19 miles. New lease to Northern Central for 99
years from July 1 1910 provides for annual rental of $24,000 (equal to 4%
on stock) organization expenses and taxes. V. 92, p. 527.
AMACON & BIRMINGHAM EY.— Owns Sofkec Jet. to La Grange. Ga.,
*1.87 miles. 7.03 miles of G. 8 . & F. Ry. and 1.10 mile of O. o f Ga. Ry.
between Sofkoe and Macon operated under trackage rights. V. 101,
p 449. In 1908 a receiver was appointed: now John B. Munson. V. 8 6 .
p. 337. In year 1917, gross, $19?,044; net, after taxes, $39,397; other in
come, $1,839. Loans A bills pay. Dec. 31 1917, $90,981.— (V. 101, p. 449.)
★ MACON DUBLIN & SAVANNAH R R .— Owns road from Macon to
Vldalla, Ga., 92 miles. Stock, $3,200,000 auth.; outstanding, $2,040,000
(par $100). Seaboard Air Line Ry. guarantees bonds, prln. and Interest.
Bonds. Series 1506 to 1529 Incl.. have clause “ Fodoral Income tax. If any
*n u m e, Is to be paid by purchased.’’ V 89. p. 43; V. 84, p . 102 , 450;
V. 106, p. 1126. For year 1917 gross, $644,820: net, after taxes, $232,449:
other Income, $15,113; interest, Ac.. $160,487; bal.. sur., $87,073. Pres.,
James A.Blair Jr., N. Y .; Sec. A Treas., J. R. Frink. Fed. M gr., W. J.
llarahan, Norfolk, Va. Gen. Mgr. under U. S. Govt., W. L. Seddon.
Norfolk, Va.— (V. 107, p. 291.)
★ MACON TERMINAL CO.— Building, tracks, A c., at Macon, Ga., comlsted and Is used by Central o f Georgia, Georgia Southern A Florida and
ontharn Ry. (all lines entering M acon), which own the S 100,000 stock and
guarantee the bonds, prln. and Int.. by endorsement. Rental on wheelage
basis covers Int. on bonds and all charges. V .101,p .1880.— (V .101,p .1886.)
★ MAHONING COAL R R .— Owns from Youngstown to Andover. O.. and
ftj-anchee, 71 miles. In December 1907 purchased a one-half interest In
tho Lake Erie A Eastern RR. in Youngstown, Ac. Tho U. S. RR. Admin.
May 1918 sanctioned capital outlays of $1,301,275.
Leased In perpetuity for 40% of gross earnings to Lake Shore (now N. Y .
Central), which Jan. 1 1917 owned $865,900 com. and $399,500 pref. stock.
LATE DIVS.— / ’95-06. '07-09. ’ 10. ’ l l ’ 12 T3. ’ 14. ’ 15to’ 18. Feb ’ 19
O n c o in .
..........MOyrlv 12 yrly 6 6
70 20 70 60
60% yly.
10
Dividends 1915-18. 20% yl.v. (10% s.-a.) with30 extra In June or July)
Tho 5% pref. stock guaranteed is callable at par. See V. 107, p. 1579.
— (V. 106, p. 2566; V. 107. p. 1004, 1579.)
★ MAINE CENTRAL. RR.— Portland to Vanceboro, M e., via Augusta,
267 miles (Including trackage Portland to Falmouth, 7 miles); branches,
Keyal Jet. to Skowbagau via Lewiston. 90 m.; Bath to Lewiston and Farm
ington, 79 ru.; Oakland to Klneo Sta.. 91 m.; Portland and Itumford Falls
System, 103 m.: Oquossoc to Kenneb&go, 11 m.; Bath to Rockland, Incl.
ferry (0.60 m .). 49 m.; Belfast, Harmony. Foxcroft. Bucksport and M t.
Dseort, Incl. ferry (7.7 m .). 157 m.: Washington County. 139 in.; Portland
to St. Johnsbury, Vt.. 138 m. Incl. trackage. 011m . St. Johnsbury Sta..
and 8.27 m. from Portland Union 8 ta. to Windham Line, Me.; Quebec
Jet., N. H.. to Lime Ridge, P. Q., 108 m.; total Dec. 31 1918, 1,216 miles,
of which 654 owned, 546 operated under leases, 15 trackage and 8 ferry.
"AD VA N C E S” AND “ STANDARD R E TU R N .” Ac.— See page 5.
STOCK.— The stockholders In 1915 authorized retiring $10,000,000 of
the outstanding stock and issuing la place thereof $3,000,000 5% non-voting
cum. pref. stock and $7,000,000 First A Ref. 20-year 4>*s. V. 101. p. 923,
1370, 1465. The common stock was thus reduced to $14,907,617. See
bonds bolow. V. 101, p. 1628, 1714. The majority Interest In the stock
formerly owned by the Boston A Maine was all disposed of In 1914-16,
through the Maine Railways, and trust wound up. V. 98, p. 312, 1071;
V. 102, p. 1250; V. 103. p. 1 4 0 7 .
D IV ID E N D S— J ’04-’08.
’07. ’08-T0. ’ l l .
1912 to Apr. 1919
Oncommon stock_\;7 y’ly.
8 y'ly.
7>S
6 yearly ( l ^ Q -j)
BONDS.—The 1st A Ref. M . made In 1915 (see above) Is limited to
$25,000,000; $6,000,000 were issued to retire $6,000,000 notes and $3,000.
000 5s in 1919 to pay floating debt, Ac.; $1,700,000 are reserved to retire
othor underlying bonds; $2,300,000 were issuable for any lawful purpose,
and the remaining $5,000,000 may bo Issued only for improvements when the
earnings are 1 H times all Interest charges. Including the bonds to be IssuM.
A first mortgage on about 323 miles of road. Including tho line running from
Portland to Bangor and on entire stock of Portland Term. Co. and a
second mortgage on about 8 8 miles. V. 102, p. 976, 1163, 1250: V. 108. P.
480; V. 106, p. 1453, 1689.
Thero are also $119,000 Maine Shore Line 6 s assumed, due 1923; also
$25,600 Belfast A Moosehead Lake mtge. 4s (not tax-exempt), due 1920,
not guaranteed, int. and sk. fd. paid out of rental; And. A Ken. stock
bonds, $11,000, exchangeable for M . O. stock; the A. A K. stock bonds are
Included in the above outstanding stock. V. 95. p. 1332.
Loans and bills payable Dec. 31 1918, $1,300,000.
Guarantees bonds and notes of Portland Terminal Co. See that company.
EARNINGS.— 12 mos., 11918.Gross. $16,415,178; net (before $385,432
Jan. 1 to Dec. 31.
tl917.Gro.ss, 14.125.577; taxes). 3.449.701
ANNUAL R E PO RT.— For cal. year 1918, V. 108. p. 1275, shows:
Income from lease of road [to U. S. RR. Administration]--------- $2,998,417
Dividend income. $66,470: other income, $79,256....................... $145,726
Deduct— Tax accruals...........$69,401
Interest on funded debt____$805,872
Railway oper. expenses.. 30,252 Interest on unfunded debt. 49,962
Rent for leased roads______ 905,591 Improvements------------------- 94,486
Miscellaneous rents_______
23,029 Sinking A other res’ve funds 16 045
Miscellaneous tax accruals.
4.046 D iv id en d s... ..................... 870,888
Miscell Income charges____189.310 Balance, surplus__________ 3 3 5 2 5 9
Cal. Years— 1917.
1916.
1917.
1916.
Av. miles oper 1,216.99
1,220.67 Int. o n f d .d t . $816,609 $848,992
Tot.oner.rev.$14.125.577812,824.676 Rents, A c------ 1,245,779 ------------1,577,093
150,000
Nct,aft.tax.Ac$2,722,379 $3,302,597 Pf. divs. (5%)
150.000
Other incomo.
441,534
620.240 Com.divs.( 6 %) 720,888
722,382
S
Gross incomo_$3.163.913 $4,022,837 Balance, surp. $230,637 $724,370
Pros., Morris McDonald; Comp. A Treas., Arthur P. Foss; Fed. Treas..
Louis M . Patterson; Fed. M gr., D . C. Douglass, Portland, M e.— (V. 107.
p. 1747. 2188; V. 108, p . 268, 480. 1275.)
★ Control.
Government
76
R A IL W A Y
RAILROAD COMPANIES
[For abbreviations, &c., see notes on first page. ]
Mahoning Coal RR— Stock, Common...........................
Preferred stock (see text)________________________
First M Youngs to And A o guar n A 1 (end).-U n.zc
Maine Central— Com stock and scrip (J15.000.000).
Pref stock 5% cum non-voting, $3,000,000-----------Collateral trust bonds tot Mt Desert Branch.AB.zc
1st & Ref M $25,000,000 call at 102 & int___ c*&r*
Maine Central Eur & No Am refunding mtge gold.z
First M Penobscot Shore Line RR Co assumed__ z
K & L 2d M (tor $400,000) assumed_________ BBz
Washington County 1st M per mile g gu red.Ce.zc*
Somerset Ry Consol, mortgage 5420,000 gold------- 1
First anti Refunding mtge $1,500,000 gold-.A B z
STOCKS A N D
Miles Date
Road Bonds
71
71
63 1884
41 1883
411 1915
6 6 1893
48 1890
48 1891
139 1904
42 1900
94 1905
Guaranteed Securities—
Portland A Ogdensburg stock (2% rental 999 yrs). .
1st M g uar prln A Int end (V. 8 6 , d . 1285)--------- z
Dexter A Piscataquis stock 5% rental 999 years..
First M Dexter to Foxcroft &c guar by end..B B z
Hereford Ry stock (rental 999 years)------------------First mortgage guar prln and Int (endorsed) — z
European & Nor Am stir 5% rental 999 yoars.
Upper Coos RR stock 6 % rental 999 years—
1st M and Exten M ($693,000 4X s) guar p A l.z
Dexter A Newport stock 5 % _______________
Eastern Maine stk 4 X % rental 999 years----Portland Union RySta series “ A ” A “ B” (text)_s fz
Portland Terminal Co.— See that company.
Portland A Rumford Falls RR— See that company
Manchester & Lawrence— Stk 10% rent till ’37 B A M
Plain bonds (not mtge) Int guar by B A M ---------zc
Manhattan (Elevated) Ry, N Y— Stock $60,000,000-Manhattan Elev cons (now 1st) mtge gold.Ce,xc*&r
2d M $5,409,000 g call at 105 (see text)---------Eq
Manila— 1st M Sou Lines g Int gu s f red 110F— xc*&r*
do
do
sinking fund_______________
New 1st M & Ref on Nor Lines 313,236,000 ------Ce
Bonds of Underlying Co. in Hands of Public—
Manila Ry ’’A ” debentures call 105_______________
do
“ B” debentures 4% reduced to 3 X % - Manistique & Lake Sup— Inc M 4% n-c $1,300,000 _z
Manist & N E— 1st M g due 40M y'ly red text.CC.xc*
110
110
1908
17
17 1889
53
53 1890
126
55
55 1890
14
19
’S7-’89
Par
Value
When
Payable
100
1 .0 0 0
1 00
1 ,0 0 0
100
1 ,0 0 0
100
100
500 &c
100
100
1 ,0 0 0
Q - -F
M A
J A
J A
175,000
M A
800,000
M A
800,000
A A
2,494,100
M &
6
350,000
1,043,000 4 & 4 X M A
.1
A
5
1 2 2 ,0 0 0
2 0 0 ,0 0 0
4X K A
J A
4
300.000
4,392,538
2,119,000
1 2 2 ,0 0 0
100
1 .0 0 0 ,0 0 0
1 ,0 0 0
274,000
1892
1 0 0 60.000,000
37
37 1890 1 ,0 0 0 &c 40,684,000
4,523,000
37 1913
1909 1.000 Ac 13,714,000
See toxt
1917
1 .0 0 0
Pledged
. . . 1916
2
4X
5
4
4
4
5
10
4
7
4
4
4
4
5
g
g
g
M A
J A
Q—
A A
J A
M &
M &
J A
[V o l . 108.
Last Dividend Places Where Interest and
Dividends are Payable
and Maturity
$50 $1,500,000 See text. F A A Feb 1 1919 10%
,r A .1 Jan 2 T 9 2 X %
661.367
5
50
J A J July 1 1934
5
1,500.000
14,888,400 6 In 1918 Q— J Apr 1 1919 I X
C— M Mar l 1919 I X
5
3,000,000
J A D June 1 1923
5
613,000
1.000 Ac 16.000,1)00 4 X & 5 J A I) Dec 1 1935
1 ,0 0 0 ,0 0 0
4 g J A J Jan 1 1933
1 ,0 0 0
F A A Aug 11920
4
1,300,000
1 ,0 0 0
F A A Feb l 1921
5
1 ,0 0 0
400,000
2,500.000
3 X ft J A •I Jan l 1954
1 ,0 0 0
tl 72,500
4 g J A .12 July 2 1950
500 &c
4 g J A J July 1 1955
864,000
1 .0 0 0
22
1906
1906
6 8 1909
text 1909
Rate
%
APrivnto
Control.
1 .0 0 0
100
100
1 .0 0 0
28 Fob 28 T 9 X %
N Nov 1 1928
.1 Jan 1 T9 2M %
J July 1 1929
N May 1919 2%
N May 1 1930
O Apr 1 1919 2 X
N May 1919 3%
N M ay 1 1930
.1 Jan 1910 2 X %
N M ay 1919 2 X %
J July '27-Jari '29
Grand Cent Term, N Y
Union Trust Co, N Y
do
do
Office, Portland, Me
American Trust. Boston
N Y, Boston & Portland
do
do
N Y, Boston A Portland
do
do
N Y, Boston A Portland
Nat Shaw Bank. Boston
Amer Trust Co, Boston
Alalne Cent OH, Portland
N Y, Boston A Portland
Office, Dover, Me
Bos Safe Dep A Tr Co
Treas office, Portland
N Y, Boston A Portland
Treas offlco, Bangor, M e
Office, Portland, Me
N Y, Boston A Portland
Treasurer’s office, P’tl’d
Office, Rockland, Me
Fidelity Tr Co, Portland
N May 1 1919 5% Manchester, New Hamp
Bost A Me R R , Boston
J Jan 1 1922
r Apr 1 1919 I X 165 Broadway, N Y
do
do
o Aor 1 1990
do
do
D June l 2013
Philippine N at. Bk.
N See text
do
do
N May 1 1959
New York
J July l 1956
g
London
J & J 15 Jan 15 1956
&c £2 ,0 0 0 ,0 0 0
4
do
A & O 15 Jan 15 1956
£20 Ac £1,880,000
3X
Detroit
S Aug 1 1934
1 ,0 0 0
1 , 1 0 0 ,0 0 0 Up to 4 M A
5 g J A .1 Jan 1919-1939 Jan 1919 prin&lnt unpaid
1 .0 0 0
1.172.000
£20
★ MANCH ESTER & LAWRENCE R R .— Owns from Manchester, N. H .,
to Methuen (3ta„e line), 23.4 m.; side track 9.2 m., total, 32.6 m. Leased
for 50 years from Sept. I 1887 to Boston A Maine at rental paying 10% dlv
In 1895 a div. o f 50% paid from proceeds o f C.& M . suit. In Jan. 1919
merger with B. & M . was ponding. See that company.— (V. 107, p. 1920;
V. 108, p. 268.)
A MANHATTAN R Y . (ELEVATED).— Owns all tho elevated railroads In
boroughs o f Manhattan and the Bronx, N. Y. City, main line and branches,
37.67 miles, with 92.56 miles of 2d, 3d, 4th and 5th track, track, sidings,
&c.; total track, 130.23 miles; 3d rail electric. The 2d, 3d and 9th Avo.
lines, under agreement with tho city made in March 1913, have been largely
3-tracked, the Interborough Rapid Transit Co. supplying funds.
LEASE.— Tho Intorborough Rapid Transit Co. leases tho road for 999
yoars from 1875, guaranteeing 7% p. a. on stock. V. 108, p. 171; V. 75, p.
1202, 1302; V. 76, p.212; V. 79, p. 2456; V. 96, p. 791. Guar., V.76.P.480.
Status o f stock, &c., V. 108, p. 1610.
BONDS.— Consols beyond $40,000,000 may be Issued for extensions at
$300,000 per mile of single and $600,000 per mile of doublo track. Of the
bonds, $12,712,000 are tax-exempt. After all the $5,409,000 2d M . bonds
have been Issued, all further capital expenditures must bo financed by the
Interborough R. T. Co. V. 103, p. 1118; V. 51. p. 248; V. 87, p. 285.
In Feb. 1916 $4,523,000 4% 2d M . bonds were sold to reimburse the Inter
borough R . T . Co. for Improvements and additions furnished under lease,
&c. The 2d mtgo. is mado superior In Hon to tho lease to tho Interbor
ough. V. 106. p. 822; V. 103. p. 1118; V. 102, p. 609, 712, 800; V. 97, p.
1115, 1504. In 1907-09 paid franchise tax 1900 to '08 ($4,876,545).
R E PO RT.— See report o f Interborough Rapid Transit Co. for 1917-18.
V. 107, p. 1284; also V. 108, p. 171. In tho following tablo tho interest
and sinking fund on that company’s bonds, issued for third tracking and
otherwise improving the Manhattan R y ., are shown as an independent item,
since the legal position of tho Manhattan R y. with respect to tho samo
under tho lease has not, it is understood, been determined.
.
1917-18.
1916-17.
1915-16.
1914-15.
Gross oper. revenue___ $18,657,280 $18,411,254 $16,534,276 $15,589,948
7,563,324
7,160,098
Net, after taxes_______ 6,593,954 7,875,689
7,299,223
7,951,279
7,676,705
Gross in com e_________ 6,692,130
1,682,657
1,867,199
1,746,710
Interest and rent p a id .. 2,073,845
4,200,000
4,200,000
4,200,000
Guar, dividends ( 7 % ) .. 4,200,000
$418,285 $1,884,080 $1,729,995 $1,416,566
Surplus to lessee_______
I n t.& sk .fd . Int.R.T.bds$l,189,995
$737,900
$336,765
...............
Pres., Edgar L. Marston; V .-P ., Alfred Skitt; Asst. Sec.-Treas., P. V.
Trainque.— (V. 108, p. 171, 1610.)
A MANILA RR.— (Gauge, 3 ft. 6 tn.)— This company, organized In New Jer
sey In 1906, has taken over and Is operating tho only steam road on the
Island of Luzon, Philippine Islands, 550 miles (V. 8 8 , p. 1313: V. 91. p. 215.)
In operation Dec. 1917, 315 miles o f Northorn lines and 308 miles
Southern lines. Additional mileage has been under construction.
In 1916-17 the Philippine Govt, purchased all tho outstanding stock for
$4,000,000 cash. V. 103, p. 939, 1031; V. 102, p. 609. 251, 2166.
BONDS.— The Manila RR. (Southern Lines) 1st gold 4s of 1909, guar
anteed as to Interest by the Philippine Governmnt under Act of U. S. Con
gress, are limited to $30,000,000, of which $13,714,000 have been Issued,
The bonds aro redeemable as a whole at any time at 110 or by lot for a sink
ing fund of x of 1% yearly from May 1 1919 to Apr. 30 1928^ and 1% yearly
thereafter. V . 91, p p.
. 215, 276, 717," 1711;” V. 93, p. 45; V. 104, p. 1801;
V. 105, p. 1802, 1898.
In June 1917, under agreement o f sale ratified Sept. 8 1916, $4,330,000
Northern Lines First Mtge. 6 % bonds and $7,716,000 2d Mtge. 7% bonds
wero canceled as of July l 1916. In lieu thoreof there were issued $13.
236,000 Manila R R . Co. Refunding Mtge. 5% 40-year gold bonds, dated
July 1 1916, a first lien on the Northern Lines and, subject to the Southern
Lines First 4s, a lien on tho Southern Lines. The entire Issue is held and
pledged by the Manila Ry. Co. (1906), Ltd., as bolow stated.
It was also arranged to apply not over £590,000 o f the $4,000,000 pur
chase price to payment of loans of Manila R y. (tho English c o .), canceling
the A & B deb. stock pledged therefor and so reducing tho nominal issues
of Its deb. stock (and bonds) to the amounts theretofore sold, viz., £2 ,0 0 0 ,0 0 0
Class A 4% and £1,880,000 Class B, the Interest rate on the latter being re
duced from 4% to 3 )4 % . Tho A and B Issues thus to be first and second
charges, respectively, on the $13,236,000 new 1st M . 6 % 40-year bonds of
the American co. and on about $2,000.000 Southern Lines 1st M . 4s. See
also V. 102. p. 2166; V. 103. p. 145. 493. 1032; V. 103. p. 1888.
Earns.
Gross.
Net.
Total Income. Charges.
Balance.
$976,456 $1,093,511 $1,309,756 def.$216,245
1916 ____ $2,505,367
1917 ....... 3,578,075
1,620,133
1,793,524 1,385,204 sur. 408,320
Pres., Manuel Quezon, Manila. Gen. M gr., E. J. Westerhouso, Manila.
Non-resident Secretary, L. V. Carmack, Insular Bureau, Washington,
D. C. Corporate office, 15 Exchange Place, Jersey City.— (V. 104, p.
1801 V. 105, p. 1802.)
AMANISTEE & NORTHEASTERN RR.— Owns from Manistee, Mich., to
Traverse City, 7l m.; Solon to Provemont, 15 ra.; Pla,tte River to Empire,
Jet., 17 m.; other, 80 m.; sidings and spurs, 53 m.; leased, l m.; oDerated
undercontract, 6 m.;total, 243 miles. Tho Michigan Trust Co. of Grand
Rapids was appointed receiver Dec. 28 1918, tho road being unable to meet
prin. and int. duo Jan. 1 1919 on its bonds. V. 108, p. 79, 268.
Of the bonds ($1,500,000), $40,000 mature Jan. 1 yearly from 1912 to
1938. Sinking fund of 50% of surplus Income, beginning July 1 1910, Is
to be used to call bonds by lot at 102)4 and Interest until $1,000,000 have
been canceled. V. 8 8 , p. 375, 823; V. 90, p . 1363. Stock, $2,000,000.
REPORT.— For year ending Dec. 31 1917—see V. 106, p. 2011.
Cal. Year—
Gross.
Net.
Charges. Hire Equip.
Balance.
1917...................$483,161 def.$9,745
$68,475 Cr$26,276
dof.S5l.943
1916................... 617,309
98,143
67,883
652
sur.30,913
1915................... 469.797
63,623
71,702
2.374
def.5,706
Pres., Edw. Buckloy, Manistee, M ich.— (V. 104, p.1489; V. 106, p. 2011.)
★ MANISTIQUE & LAKE SUPERIOR RR.— Manistique, Mich., on Lake
Michigan, northerly to Evelyn, 42 m.; branch to Doyles, 15 m.; V. 81, p.
Amount
Outstanding
BONDS
975; V. 87, p. 97: V. 89, p. 470. The Ann Arbor RR. in Apr. 1911 a qulred the entire $250,000 stock. V. 92. p. 1109. Bonds auth.. S1,300.000 25-year 4% non-cum. Incomes. On D oc.31 1916, woss, $142,904; net.
$37,724; other income, $735; taxes, rentals, &c., $18,066: bal.,.sur., $2 0 .
393. For 1917, gross, $186,647; not, after taxes, $31,522. Pres., Alfred
W . Towsley, Toledo, O.; Gen. Mgr. under U. S. Govt., E. F . Blomoyer.
Minneapolis, Minn.— (V. 108, P- 1171.)
AMANITOU & PIKE’ S PEAK RY.— Manltou, Col. tosummlt of Pike’s
peak, 8.9 miles; standard gauge. Operated from April to November yrly.
Stock, $500,000; par of shares. $100. D iv.. 40% paid in 1913-14; 1915.
Sept., 10%; 1916, none. Int. on bonds paid regularly to Apr. 1 1917; nono
paid slnco to May 1918. For year ond. Doc. 31 1917, gross, $57,959; net,
loss, $3,986: othor income, $1,475; bond int., $25,000; miscell., $226;
dof., $27,737. Pres., H. J. Ilolt, Manltou, Colo.— (V. 106, p. 2011.)
.
A MARION & RYE VALLEY R Y .— Owns Marlon to Sugar Grove. Va..
18 miles.
A reorganization in June 1900. Controlled by United States
Spruce Lumber Co. Stock. $100,000, par, $100. Dividend 1915. 6 % .
Bonds $175,000 6 s, see table above. V. 96. p. 1472. Year ending Juno 30
1916, gross. $86,138; net, $33,291; Int., &c., $22,392; bal., sur., $10,899.
Pros. A Gen. Man., J. O. Campboll; Troas., L. A. Amsler; Aud., IL S.
Charlton, Marlon, Va.; O. II. Miller, Fairmont. Va.— (V. 95. p. 1472.)
A A1ARSHALL & EAST TE XA S R Y .— Formerly owned from Elysian
Fields, via Marshall, Tex., on Tox. A Pac.. to Winnsboro. on M . K. « T .,
92 m.; 2 branches, 4 miles. On Jan. 25 1917 Bryan Snyder, Marshall, T ex .,
was mado receiver on application of St. Louis Union Trust Co. v . 104,
p. 452, 1899; V. 105, p. 389, 498. In 1918 sold under foreclosure; operation
of the road was discontinued and dismantling proposed. V. 107, p. 1385.
Loans and bills payablo Juno 30 1916, $316,797; car trusts, $2,375. For
cal. year 1917, gross, $123,694; dof. aft. taxes, $4,580.— (V. 107, p. 1385.)
★ MARYLAND DELAWARE & VIROINIA RY.— Operates Love Pt., Md ,
co Lewes, Del., 72 miles; Queenstown Jet. to Centerville. Md., 5 m.; total.
77 m.; and Lewes to Rehoboth, 5 m., Is trackage over Del. M. A Vlr. Also
owns 10 steamers on tho Potomac River. &c., but on Aug. 20 1914 was
ordered to dlsposo of practically all its water lines; at last accounts tho matmor was not definitely decided. V. 101, p. 694.
Stock, $3,000,000. of which one-half each of common aud 4% non-cum.
prof.; par of shares, $50 each; 1st M. 5% bonds duo Feb. 1 1955, $2,000,000;
loans and bills payablo Dec. 31 1917, $836,750. Balt. Ches. A Atlan
tic Rv. (Pennsylvania RR. system) In Dec. 1916, ownod all tho common
and $300,000 pref. stock, and guarantees bonds. In 1918, gross $1,101,
323; not, def., $60,234. In 1917, gross, $1,011,519; not, $59,354; other
jncomo, $1,719; charges, $158,512; bal., def., $97,439.— (V. 105, p. 607.)
A MARYLAND & PENNSYLVANIA RR.— Baltimore, Md., to York, Pa.
77.19 miles; othor milcago, 3.50.
STOCK AND BONDS.— Stock authorized, $3,600,000. of which $1,997.
500 reserved for conversion of notes (see bolow) and future requirements.
In 1902 the authorized Issue of the first 4s was reduced from $2,700,000 to
$1,200,000, of which $203,000 are rosorved to retire the York & Peach
Bottom 5s and $100,000 additional for future purposos, &c. V. 74, p. 94,
427; V. 79, p. 2205. Of the 6 % notes or 1913 ($500,000 authorized issue).
$300,000 have been sold. They aro convertible Into common stock at
$50 per share up to July 1 1923. No mortgage can bo mado without pro
viding for the notes. V. 97. p. 1115, 951. Maryland A Pennsylvania Ter
minal guaranteed bonds. V. 82, p. 1041, 1102. Equipment notes Dec.
1917.335,500. V. 96. p. 203. Paid on Incomes. 1901. 3% : 1902 to Apr.
1914. lncl., 4% yearly (2% A .& O .): none since to and incl. April 1919.
REPO RT.— For year ending Doc. 31 1918, gross, $606,167; not, after
taxes (incl. war taxos, $12,425), $102,355: int., rents, &c., $77,075; bal.,
sur., $25,280. In 1917, gross, $534,599. Pros., O. H. Nance.— (V. 100,
p. 397; V. 101, p. 1092, 1973.)
★ MASON C ITY & FORT DODGE R R .— (See Map Chicago Great West.)—
Owns road from Oolweln, la ., to Council Bluffs, 259 miles; llayflold, M inn.,
to Clarion, la., 100 m.; branchos to Lehigh and Coalville, la., 19 m.; trackage.HCouncil Bluffs to So. Omaha, 8 in.; total. 386 m. The Chicago Groat
western ownod Doc. 31 1916 ontire outstanding com. stock ($19,205,
752 of the $14,000,000 auth.), and operates the road as part of Its main line
to Omaha under a 100-year agreement dated Apr. 30 1901, and modified
June 1904, M . C. & Ft. D. receiving 60% of earns, on business interchanged.
Compare Chic. Great Western R y. and V. 73, p. 566, 616, 722; V. 77, p. 640;
V. 78 p. 1782; V. 80, p. 2621. Earnings incl. in those of C. G. W . system.
— (V. 95, p. 1274; V. 99, p. 1451.)
MASSAWIPPI VALLEY RY.— Province Line to Lenoxvlllo, Que., 34
miles, with branch, 3 m ; trackage to Sherbrooke, Que., 3 m.; total, 40 m.
Leased for 999 years from July 1 1870 to the Connecticut & Passumnslo
Rivers RR. Stock, $800,000; par of shares, $100; dividends payablo F eb.
and Aug. 1. Dividends, formerly 5% , 6 % since Jan. 1 97. Of the stock,
$400,000 owned by the Conn. A Pass. River Is deposited under Its mtge. and
$50,000 was purchased In 1910 under its option at par.— (V. 92, p. 1108.)
AMcCLOUD RIVER RR.— Owns from Sisson, Cal., to McGavio, 50.6 miles,
stock, $1,200,000. Bonds ($1,200,000 auth.), Mercantile Trust Co., San
Francisco, mtge. trustee. V. 85, p. 1005. For year ending Juno 30 1916.
gross, $313,880; net, $53,646; other income, $7,140: Interest, &c., 866,844;
bal , def., $6,058. Pres., J. H. Qucal, San Francisco.— (V. 85, p. 1005.)
AMEADVILLECONNEAUT LAKE & LINESVILLE.— Mcadvllle to Linos
vllle. Pa.. 20.5 miles, and branches. 1 mile; total, 21.6 miles. Leased
to July 1 1990 to Pittsburgh Bessemer A Lake Erie R R .: rental, 25% of
gross earnings. Stock, $200,000; par. $50. Dividend In 1 9 1 3 to Apr. 1919,
4% (2% A. & O.) For year ending Doc. 31 1917, gross, $31,602; not,
$30,446; bond int., $10,000; rentals, $348; dlvs. (4% ), $8,000; ba).. sur,,
$12,099. For yoar 1916, gross, $32,470; not, $31 183.— (V.96 p. 709.)
★ M E M P H I S D A L L A S & OULF R R .— Owns from Ashdown to Hot
Springs, Ark., 114 miles; Ashdown to Texarkana, 20 m.: Graysonla to
Leard, 6 m.; Daleville to Dalark, 11 m.; total, 151 miles. Extensions pro
posed north to Memphis, Tenn., 255 miles, and south to Dallas, rex.; 186 in.
Compensation under Federal control, $28,296; contract signed April 12,
1919. V. 108, p. 1610.
APR., 1919.] * 8 o E ment
R A IL W A Y
RAILROAD COMPANIES
IFor abbreviations, A c., see notes on first page]
STOCKS
Miles Date
Road Bonds
Manitoij & Pike’ s Peak Ry— 1st M *500,000 g -.F .xc*
9 1908
Manitoulin & North Shore— See Algoma Eastern R y _ .
Marlon & Rye Valley R.v— First mortgage_______ x
18 1902
Md I)el & Va— 1st M $2 ,0 0 0 ,0 0 0 auth gold guar __xc*
77 1905
Marshal! & Last Texas— 1st M gold call 102 -.SSt.xo*
92 1911
Maryland & Pennsylvania— York & Peach Bot M__x
4U 1882
Hrst mortgage $1,200.000goldcallat 105.MeBa.xc*
8(1 1901
Income mortgage $900,000 4% cum call p a r.. MeBa
80 1901
Notea $500,000 gold red 102)4.......... ...M eB a.x c*
--- 1913
Maryland & Pa Ter IstM $200,000 ggu red 110._xx
1906
Mason City & Ft Dodge— 1st M g ----------------- Ce.xo&r
378 1905
Massawlppi— Stock guar same dlv as Conn & Pass__
37
McCloud River— First mortgage $1.200,000..:...........x
1907
Mcadville Conneaut Lake & Linesville— First mtge.._z
22 1891
Mem Dai&O— lst&RefM$3,60O,OO0g red textMStxc*
1913
Mem Paris A Gulf— 1st M gold red 103 begin 1919.x
1908
Memphis Union Station— 1st M g guar..B ajcc*r*
1913
Meridian & Memphis R R — 1st M $800,000 red 105..
1913
Oollat trust notes (of voluntary trust) call 101.CC.C
33 1916
Meridian Terminal— First M $250,000 g gu..G xo*& r
3.27 1905
Mexican Central— Mexican International— See Nation al Hall ways 0
Mexican Alineral— 1 st M $500,000 g red 110 s t____Ox
16 1899
Mexican Northern—Stock, $3,000,000.........................
First tntgo U S gold red 105 s f ext In 1909-(l.xc**r
83 1890
Mexican Ry Limited— Ordinary share capital stock
First preference stock 8 % ___________________ . .
Second preference stock 6 % _________________
Perpetual 6 % debenture stock___ __ .
403
2 d uebens £ 1 ,0 0 0 .0 0 0 auth red par since 1912 s fl.
1909
Mexican Sou’ii Ry— 1st M 4% deb stk red at par 90 yrs
1896
Prior lien bonds___________ ______ ____ _____ _ .
1913
Mex No West— Prior lien bonds £2,500,000 red 102)4
1913
1st M gold red t e x t ............... .............
1909
Conv Income bds £1.000.000 6 % cum red par s flo*
.... 1912
Equipment gold bonds £480,000...............................
Michigan Central— S tock..............................................
-Refunding & Impt Mtge *100.000.000.................
1 ,2 0 0
1917
First mortgage 518.000.000 gold___ _____ d.xc*&r
270 1902
M C Michigan Air Line first mortgage___ Un.xc&r
115 1890
a Exclusive of $31,000 held by sinking fund, b $2 4,000 addltlo
Par
Value
Rate
%
5g
When
Payable
A
APrlvate
Control.
860 V ’ 8 8 ’ P’ 7491 -V ’ 8 9 ’ p * 3 4 § - 4 70’
77
Last Dividend Places Where Interest and
and Maturity
Dividends are Payable
& O Oct 1 1928
1 ,0 0 0 &c 18,000,000
3)4 g M A N
1.000 &c 2.600.000
4
J A J
nat In sin king fund. c Of whic h $16.81
Stock.' $40.000.OOO’ (par $100). of which $25,000,000 issued.
BONDS.— Present limit 1st M . 5s, £8.459 700: issued. £ 5 600 0 0 0 V ss
P -J49; V 93, p. 28. 1324. 1463; V 95?p. 1 * 6 ; * !9 7 ? p . 621, 5l)5.
88'
As to 6 % cumulative convertible Income bonds, see V. 94. p. 1627.
The issue of 15-year prior-lien 6 % bonds is limited to £2,500.000, secured
by a prior lion on the entire property. Red. at 102 H any time on 6 months’
$500,000
BONDS
J & J July 1 1922
500
175,000
6
1,000 2,000,000
5 Z F & A Feb 1 1955
1.000
1.180,000
6g
T & J Jan l 1931
50 &c
M
202,450
5
S Apr 1 1932
1,000
897,000
4 g
M & s Mch 11951
1.000
900,000 8ee text A & 0 Apr 1 1951
100 &c
300,000
6 g J & J Oct 1 1923
1.000
200.000
M & N May 1 1936
5g
1,000 12,000.000
4Z J & D
100
F & A
800.000
6
1.000
1.200,000
A A O Apr 1 1937
5
200,000
J A J
1.000
5
l.OOO&o
See text
J A J
6g
1.000
420,000
6g J A J
1 1928
l.OOO&c 2,500.000
M & N
5g
1 1959
See text
1 .0 0 0
5
.1
& J
1 1943
l .0 0 0
260,000
6g J & J
1 ,0 0 0 &c
250,000
M A N
4g
t Mexico
F A A
b326,000
6g
100
3,000,000
May 1 ’ 13 134%
1 ,0 0 0
a708,000
6g J A n
£ 1 0 £2,254,720
£ 1 0 £2.554,100
Nov 6 ’ 13, 4
£ 1 0 £1,011,960
s£
£ 1 0 £ 2 ,0 0 0 ,0 0 0
6
J A J
A A 0
£100
£480.700
4H
F A A
£861.000
4
6
1928
£ 1 0 0 £1,671.000
6
1928
£ 1 0 0 £5.600.000
M A S
5g
£ 2 0 &o
M
£750,000 Up to 6
A S15
(7)
$ 1 0 0 C$18738000 See text J
& J Jan 29 ’ 19 2%
MEXICO NORTH WESTERN R Y.— Owns and controls 540 X miles
Ciudad Juarez to Tabalaopa
|La Junta to Mlnaoa__
o 34
(Chihuahua) - - - - - - - - - - - - -475.78 Cumbro to Chulohupa’(building) 5.08
San Antonio to Cuslbulrlaohlo. 13.051
O '™ 8 ovA r-73K’()2 m(n?vi^refl ° r tl,nber l»nds. with 2 mills at Madera with a
175.000.000 ft. per year, anil 2 mills at Pearson with a capacity
of 250,000,000 ft. per year. Controls finishing. Sec., plant at El Paso, Taxy
V - 9 « . p. 287.year
Amount
Outstanding
$1,000
Stock authorized, $7,675,000; par, $100; outstanding $1,027,000. Of
the 1st and ref. 30-year gold 6 s ($3,600,000 auth. issue), $1,015,000 were
issuable at once, $420,000 were reserved to rotire the $420,000 Memphis
Paris & Gulf 6 s, which were guaranteed principal and interest by Nash
ville (Ark.) Lumber Co., and $2,165,000 for road acquired or constructed
at $18,000 nor mile In 5-mile sections. V. 96, d . 237, 887. At last advices
$1,632,000 First & Ref. Mtge. bonds had been authenticated and interest
remained unpaid since Jan. 1915.
For year ending Juno 30 1916. gross, $336,865; net, $58,814: 1914-15.
gross, $270,439; net, $42,909; interest, &c.. $45,571; bal., dof., $2,662.
For cal. year 1917, gross. $270,954; not, after taxes, $34,785.
Pres., W. \V. Brown, Camden, Ark.; V.-P. & Gen. M gr., O. C. Hender
son; V.-]*.. A. O. Ramsey: Sec.. J. W. Bishop; Troas., W. 11. Toland:
Federal Mgr., A. Robertson, St. Louis.— V. 107, p. 1385; V . 108, p. 1610 )
★ MEMPHIS UNION STATION CO.— Owns union passenger station at
Memphis. Tenn., used by Loulsv. & Nashv., Nashv. Chatt. A St Louis
Southern R y., Missouri Pacific and St. Louis Southwestern, used since
April 1 1912. Interest charges and expenses are apportioned among the
lines on the user basis. Stock, $100,000, owned equally by five roads
named. In Nov. 1909 made a mtge. to the Bankers Trust Co of N Y
as trustee, to secure an issue o f $3,000,000 5% gold bonds, guar. Jointly
and severally b.v five roads named. V. 97, p. 1025; V 93 d 1324-V SO
p. 1411. 1542; V. 90, p. 236: V. 91, p. 04— Pres. W. R Ooie Nashville
Tenn.,*Fodoral And., O. T. Ponnebaker, Memphis, Tenn (V 97 p 1025 )
★ MERIDIAN & MEMPHIS R R .-O w n s Meridian, Miss., to Union, 33
miles, with terminals at Meridian. In Jan. 1918 tho Gulf Mobile &
Northern (which see) purchased the outstanding securities ($500 000 stock
$1,675,000 1st M . bonds and 8280,0001collateral notes), but the propeVHes
are operated separately. V. 106, p. 296; V. 105, p. 2543- V 103 n i l l s
In 1916 the Meridian & Tomblgbeo River Ry. was incorporated as'sneiissor
of tho Meridian & Deepwater Ity., partly built from Me Idton
to
Tomblgbeo River. 47 miles, of whfch h miles,from M eridiantoapol'nt on
the Ala. Tenn. & Northern R R .. was to bo completed during 1917 P Pros
J. B. Tigrett; Federal Mgr., R. V: Taylor, Mobile. (V 107, p 181.)
★ MERIDIAN TERMINAL CO.— Owns passenger stations at Meridian,
Miss., opened Sept. I 1906, and used by Southern Ry.. Mobile & Ohio, New
Orleans & Northeastern RR.. Ala. A ..^,Pic
Vicksburg
SblJX Aand
nd AAla.
la . Great
Great Sptuhwn
Southern,
which own one-fifth each of tho capital
‘ stock ($ 1 0" 0 0 0 0 ) and‘ auar-n
larantoe the
bonds Jointly and severally by endorsement: form V 85 n Am
Pres. .
H. \V. Miller; Sec., Richard Miller; Treas., F. s! W ynn.(V. 10™ p! 1670.)
MEXICAN NORTHERN R Y .— See page 132.
MEXICAN RY., LTD.—City of Mexico to Vera Cruz, 264 miles- Pueblo
branch, Aplzaco to Puebla, 2J m.: Paohuoa branch, Ometusoo to Paohuea
29 rn.; Zacatlan branch (narrow gauge), 33 m.; Ht atusco branoh fnanow
gauge). 20 m.: Huajuapan branch narrow gauge 28 mllM- total T ine 30
1914, 403 miles. Jointly guarantees debenturesof Vera Oniz Twminal Co
On Nov. 18 1914 the military authorities took over the IlnTand m, re urns
were rendered to the company. In Sept. 1916 the Carranza G o ^ . sur
rendered possession, but In Apr. 1917 again took charge. V 105 d 290
1802; V. 104. p. 1489; V. 103, p. 991. In Nov. 1917 had U ken o?er the
oporallon of tho Tehuantepec National R y., extending from CiratLumficm
Gulf of Mexico, to Sallna Cruz, on Pacific Ocean l 8 8 mb s and oneratlne
5 rm i^ K
IOil, JP« J.W»U, v . Ot, p
V * 2 2 . 0f M6X-) ’ p S a ^ S k t e n.d28P
D1VS
:VS (N(ncfi'04.) 1905. 1906. 1907. 1908. 1909. 1910. 1911 1912. 1913
First
rst nre l----- %1
5?|7 H o
o
8
7 3-lfi
«
o
q
ft
Secou
____ . _ [ - - coud
1
K 413-16 3H 1 5-16 4 7 - .1/0 < rX
6
6
6
mmnnpref--%
__
+~
X -.
~
..
Common........
%J I ............................
- ............ ..
H 19-16
2%
2)4
Tho holders ot the perpetual deb. stock and 414% 2d debentures on
Jan. 11 1917 voted (a) to defer until 1919 tho payment o f th e 9 InsUHmont”
of intorost duo
1016$ 1917, 1918 and 1919, and to Issue certificates
for tho same bearing 6 % Interest. due on or before July and Oct. 1 1919.
respectively: and (2 to omit the sink, fund for 2d deb. in 1915 to 1919
deferredP" V ^ i o s ’ /°'()’S3. 73' Later interest payments have also been
Office, 1 Broad St. Place, London, E O., 2.__(V. 108, p. 6830
.MEXICAN SOUTHERN RY ..L T D .— Puebla to Oaxaca, Mex., 228 miles,
all narrow-gauge^ branch, 31 m., Tehuacan to Ksneranza* Ouxaoa tn s«n
Pablo, 16 m.; Oaxaca to Tlacolula, 20 m.. opened Jan l912- other 7 m
total. 302 miles; sidings. 19 miles. Tehuacan tram lines, 5 m .. standard
gaugo, and Oaxaca
7 *?•. narrow gauge. Ord. stock, £1,000,000.
I ho road passes June 8 1J90 to the State without payment, except for
stations, rolling stock* &c. V. 79, p. 2612. Leased from Kn i iQin fn
Intcroceaulc Ity. of Mexico. See that company. Tho rental diie Juno go
July 28 and Doc. 31 1914 and Jan. 28 and April 27 19lS waTto be sStltfied
by 5% deb. cortlflcatM redeemable from earnings. As no rentals have been
receive! from Intoroceanic Ry. for period subsequent to June 30 1914, an
extension o f tho moratorium was agi-ced to. V. 101, p. 130- V 99 n 6 7 4
Int. on 2 d debs, (now 1st) payable ouly out o f proflts on Feb 1 & Aug. l '
OFFICERS.— C’hsJi-man, Sir Ernest Paget; Sec., Titos. Linton, 53 New
Broad St., London, E. O.— (V, 80. p. 222: V. 101, p. 130.)
V .'o S .
AND
1 1940
New York and Chicago
Bank of Marlon (Va.).
Treasurer’s Office, Phlla
See text
See Tie.& Tr.Co.York.Pa
Brown Bros, N Y 4 Balt
1914 to Apr. ’ 18 none pd
Alex Brown & Sons, Balt
do
do
J P Morgan & Co. N Y
Safe Dep & Tr Co, Bost
Mercantile Tr Co. San Fr
Merch Nat Bk, Meadv.Pa
Bankers Trust Co, N Y
UnBk&TCo.Jacks'n.Ten
Chicago and New York
Guaranty Trust Co. N Y
82 Beaver Street. N Y
Office. 82 Beaver St, N Y
do
do
Glyn.MUls.Currle&Co.Lo
do
do
do
do
See text
See text
Sept 1914 coup deferred
Sept '13 coup deferred
1st coup Mch 1913
See text
Grand Cent Term’l, N Y
Reg at G C T; epat G Tr
Union Trust. Co, N Y
Y Oentrai RR Co.
notico. Trustee, Nat. Trust C o.. Toronto, Ltd. V. 96. p. 285, 1229.
The payment of coupons was deferred, owing to financial conditions in
Europe and Mexico. V. 99, p. 674.
OFFICERS.— Pres., R. Homo Smith, Toronto; V.-Ps., Tl. I. Miller.
N. Y.; Miller Lash, Toronto, Can.; Troas., U. de B. Dalv, Toronto; Sec..
A . M . Trueb, N. Y. Office, 115 Broadway, N. Y .— V. 107. n. 1101*
★ MICHIGAN CENTRAL RR.— (See Maps New York Central Lines)
—LINE OF ROAD.— Main line— Kensington to Detroit. 272 miles,
and Windsor to Suspension Bridge (Canada Southern), 381 m.; Branches
owned and leased, 1,108 m.; trackage (111. Cent.) into Chicago under per
petual lease, 14 m.; other trackage, 8 6 m.; total Jan. 1 1918. 1.862 miles,
with.664 m. o f 2d track, 6.97 m. of four track and 1,606 m. side tracks. &c.
Chicago Kalam azoo* Saginaw R y., Pavilion to Woodbury, M ich., 55 m .,
Is controlled but operated Independently. V. 84. p. 50. Shareholders
votedJune 8 1916 to purchase 15 subsidiaries, including all those m entions!
In bond table at head of pageexcept Detroit River Tunnel Co. V. 102,
p. 2254. Has considerable interest in Indiana Harbor Belt RR . See that
co. and V. 106, p. 2018.
Third-rail electric Detroit River Tunnel, 2.72 m. long, Is leased for 999
years
V. 90, p. 710; V. 91, p . 276; V. 92, p. 1499; V. 98, p. 236.
In Sept. 1918 the officers were authorized to sign the contract with the
U. S. Government after slight modification. V. 107, p. 1192.
“ ADVANCES” AND “ STANDARD R E T U R N ,” &c.— See page 5.
Annual compnesation (including Ch. Kal. & Sag.), $8,105,727.
The U. S. R R . Admin, in 1918 sanctioned mpt. outlays of $4,426,225;
equipment, $15,601,332, and had made the company a $4,000,000 6 % de
mand loan, also an advance o f $3,050,000 on account of rental. V. 100, p.
2194. 1901.
CONTROL.— The N. Y . Cent. & Hud. River R R . Co. in April 1898 gave
$115 In its 3 K % 100-year gold bonds for $100 stock, and so holds $16,819.
800 of the $18,738,000 stock Issued. See that company’s statement (also
V. 93, p. 1787; V, 96, p. 1424, for proposition looking to ultimate merger.
LATE DIVS.— U91. ’92-’ 94. ’95-’ 05. ’06. '07 .'08. ’09-’ 14. 1 9 l5to’ 18.
Since 1890 ____ %.l. 5 “5M y’ly. 4 y’ly.
5
8
6
6 y ’ly
4% yrly
From Jan. 1916 to Jan. 1919, 4% p. a. (2% s.-a.) V. 101, p. 48.
BONDS — The $100,000,000 Refunding & Improvement mortgage o f
1916, covers about 1,200 miles of directly owned road, also leaseholds.
&c. The now bonds will be Issued in series, all equally secured, and about
$40,000,000 thereof will be reserved to provide for refunding the under
lying bonds shown in table above, after $ 1 0 ,0 0 0 ,0 0 0 of the new bonds have
been Issued for other than refunding purposes, bonds thereafter put out
under the mortgage for additions and Improvements must not exceed 70%
of the cost o f such outlays. The debentures o f 1909 will be secured by the
new mortgage on a parity with the bonds issued thereunder. V . 104. p. 1600.
In May 1918 none of the new bonds had been sold, but a block of them.
It is supposed, has been pledged to secure the S4,000,000 loan from the
U. S. Government and presumably a further amount in connection with
the borrowing by the N. Y . Central RR. of the remaining $6,000,000 re
quired to pay the $8,000,000 5% Mich. Cent, notes redeemed M ay 15
1918, and for other purposes. V. 106, p. 2018, 2123, 1901.
Battle Creek A Sturgis bonds for $500,000, but of this *79.000 was sub
guaranteed by the Lake Shore & Michigan Southern (now merged into
tho New York Central), 7 miles, being operated by that company.
As to 3H s o f 1002, see V. 74, p. 728; V. 76, p. 102; V, 83. p. 1229. First
4s on Joliet & North. Ind.. see V. 84. D. 1367: 1428: V. 100. p. 556, 642.
Toledo Canada So. A Dei. 4s. V. 104, p. 1600; V. 82. p. 930; V. 85, p. 406.
In April 1909 an Issue of $25,000,000 4% 20-year debentures was author
ized, of which $7,634,000 sold to provide for advances to Detroit River
Tunnel Co. Of the $4,500,000 authorized 4s on Grand River Valley R R ..
$1,500,000 are reserved for double-tracking, &c., and $1,500,000 for future
requirements. V. 8 8 , p. 945, 1002, 1061. 1254: V. 90, p. 1554: V. 89.
p. 170; V. 90. p. 627.
As to guaranteed bonds, see Canada Southern and Detroit River Tunnel.
Equipment bonds of 1915. see V. 103, p. 145; V. 102, p. 1447.
Tho Michigan Central RR . Equipment Trust of 1917 (V. 104. p. 1794)
provided for an Issue of *9,000.000 or 4)4% equipment trust certificates,
but not in excess or 80% o f the cost of the equipment to be furnished there
under, payable in 15 annual Installments, the first Installment Mar. 1 1918.
In Mar. 1919 the S7,800.000 unmatured certificates were placed. See
V. 108, p. 973; V. 106, p. 2018.
Jointly with four other roads, covenants to pay New York Central Lines
$62,200,000 car trusts or 1907. 1910. 1912 and 1913, tho company’s share of
equipment trusts outstanding Doc. 31 1917 being $1,302,127. $2,757,723:
$1,365,398 and $2,623,595, respectively. V. 85. p. 1402; V. 8 6 . p. 168;
V. 8 8 . p. 761; V. 90. p. 1677; V. 92. p. 807.
V
EARNINGS.— 12 mos.,/1918-Gross, $68,520,087; net (after $17,450,015
Jan. 1 to Dec. 31.
\1917-Gross, 52,879,434; taxes), 14,590,298
ANNUAL REPO RT.— Report for 1917 In V. 106, p. 2002, 2018.
Year ending Dec. 31—
1917.
1916.
1915.
Railroad revenues- ....................... ..$52,879,434 $46,418,790 $36,540,665
Operating income after taxes............... 12,604,655 14,076,169
9,285,601
Other Income...................
869,802
936.830
928,483
Gross corporate Income................... $13,474,457 $15,012,999 $10,214,084
Rentals leased lines.............................. $2,775,914 $3,259,907 $3,444,651
Interest on bonds, &c........................... 2,712,266
1,993,942
1,706.395
Other rents and miscellaneous..........
1,000,709
647,425
569,581
Hire of equipment................................. 3,547,351
2,274.352
1,566,501
Depreciation.............................................................
500,000
Additions, &C......................................
252,604 xl.700,984
113,176
Dividends .......................... ............... (4% )749.456(4%)749.520(5%)936’,900
Balance, surplus.............................. $2,436,157 $3,886,932 $1,876,881
x Includes stock purchased Jackson Lans. & Sag. R R . $1 151 150Grand RiVer V. RR. $405,375; additions. &c., $144,459.
Pres., W. K. Vanderbilt Jr., N. Y .; Fed. M gr., E. D. Bronner. Detroit.
— (V. 106, p. 2560; V. 107. p. 1004, 1192, 2188; V. 108, p. 973.)
M AP OP TH E
^
TwoBti
J iU T H ^ g
MINNEAPOLIS & ST. LOUIS
Valley
PACIFIC
< / , NORTHERN
Wahpeto:
Oakes
J£dgeley c>— '
S lo n a n g d y —
Taa
m\
\\\
R A IL R O A D & CONNECTIONS.
B in c k le j L ^
Spooner
Ellendale V—■
Sauk
Brown's Valle;
LSroGaffen
\Monico Je.
lenwot
MM.
^Chippewa Falla
Ellis Jc.
Marinette'
Wausai
Eland,
■ Abbotsford^
llaire
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^
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;
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ry
B*
Qaaska
Elkton1
:acy
u Sailt j j f
’Plovei
L. Crystal
Rapid Cj]
M a d is o n
Q-.
faffaio Gaj
WATEJiViLL!
[wASElpA
iOti»co\
M ankato
nt1
ALBEflr
IMitchel
a
White
Armour,
inont
cc>
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larion'
/L.rit’i ' V
„
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Terrillj
J>ecorah
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iootTmJui
Ch.rlea v t
tvieil
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,G«a*0 1C
vVayne^
Oakdale1
(naxa >
Ericson, !
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[C arroll
■— ------- Dallas Cei,]
OSS MOINES
'ubuqTie'
<i*?SHAU>TOWNpiclterlor
GUmnn
hewbub G
STATE
tC-,N£wrON-A.->
ALjaAville JcTV
'cN ^ N J a liitor'
Grand. Bay!
Ottawa M
b Su
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itldora
R a n d o lp l
O 'N e l i T 't — p a c ;
1WAUKEE
Sftine S
Janesville;
Niobrara^
Butka
lanitowoc
Viroqua
Lunnuij
Wendj
Cadllb
Wlnneconue
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'Dimnell
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Armatror
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SPENCER'S
Grenville ■
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Scotland.
WlnoniSv^
Rochester ^
La Crescent'
l1Sew
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HM-tliiA
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P ly m o u th
Colunibu;
Central Cit;
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K earaey ^^ ^ M A *):
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DENVER
letavan,
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sana;
Jolumbus;
C lla to n ;
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tolurablj
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L im o n ^
^
V 'G lviol
EQSYVItLEl
RAILWAY STOCKS AND BONDS
taVs^all
Centralia,
fylossner,
NEWvUIIm/
A ph ., 1919.]
★ Control.
Government
R A IL R O A D C O M P A N IE S
[F o r a b b r e v i a ti o n s . & c ., se e n o te s o n f i r s t p a g e)
M iles
R oad
D a te
B onds
M i c h i g a n C e n t r a l ( C o n c l u d e d .)
1 s t i l o n U e t & H a y C i t y _____________________________ U n . z c
171
1881
do
do
b o n d s w i t h o u t c o u p o n s ____z r
171
1881
D e b e n t u r e s g o l d __________________________________ G . x c * & r *
1909
M C n e w M o n G r R l v V a l $ 4 ,5 0 0 ,0 0 0 , g t e x t .G x c & r
81
1909
M C fir s t m o r t g a g e o n K a l a m a z o o & S H a v e n .x U n .r
39
1889
M ic h C e n t 1 st M o n J a c k L a n s & S a g in a w g _ _ x c * & r
379
1901
M C 1 s t M o n J o lie t & N o r I n d ia n a $ 3 ,0 0 0 ,0 0 0 g . x
1907
45
E q u i p . T r . S 4 .5 0 0 .0 0 0 ( $ 3 0 0 ,0 0 0 a n n u a ll y ) g u . g y c *
1915
E q u i p m e n t t r u s t s N Y C e n t r a l L i n o s , w h i c h s e e ____
0 7 -1 3
do
d o
d u e $ 6 0 0 , 0 0 0 s - a _________G . c * & r
1917
B a y ^ i t y & H a t t ie C r 1 s t M g g u p & 1 c n d . M p . z c *
18
1889
B a t t le C r & S t u r g is 1st M g g u a r p & 1 c n d . M p . z c *
41
1889
T o lC a n S o & D e t ls t M $ 4 ,5 0 0 ,0 0 0 g g u (e n d ) G .x c * & r .
59
1906
D e t r o it R Iv T u n n e l C o
See th a t com p a n y
M id d le t o w n & U n io n v R R — 1st M $ 5 0 0 ,0 0 0 .. B a .y
1913
14
S e c o n d M 6 % n o n - c u m a d ju s t In c b o n d s reel p a r . _ y
1913
M id la n d P e n n s y lv a n ia — 1 st M $ 2 ,0 0 0 ,0 0 0 g o l d r e d s t .
1910
1 s t c o n s o l M $ 1 , 0 0 0 , 0 0 0 ____________________________________
1917
M id la n d V a l R R — 1st M g re d 1 0 2 H b e g ’ l d .G P x c *
299
1913
A d ju s t m e n t m t g s (2 d I n c o m e ) g o lcl r e d p a r F P . x c *
299
1913
W i c h i t a & M i d l a n d V a l 1 s t M g g u r e d p a r _______ x c
1911
M il l C r e e k & M i n e M ill N a v i g a t i o n & R R — S t o c k _____
M ilw a u k e e L a k e S h o r e & W e s t e r n — M ilw a u k e e S p a r ta & N o r th W e s
(M ilw a u k e e & N o r t h e r n — S e e C h i c a g o M il w a u k e e & S t P a u l
M i n e H i l l & S c h u y l k i l l H a v e n — S t o c k ( 6 % r e n t a l ) ____
37
M in e r a l P o i n t A N o r t h e r n — 1 s t M $ 4 5 0 ,0 0 0 g o l d _ F .x
26
1905
M in e r a l R a n g e — C o n s o l m t g e ( t e x t ) g o l d r e d a t 1 0 5 . z o
16
1891
G e n e r a l m tg e In te r e s t g u a r b y C a n a d ia n P a c if i c .F z
73
1901
I la n c o c k & C a l c o n s m tg e g o ld re d a t 1 0 5 a s s u m ._ z
34
1891
E q u i p m e n t T r u s t n o t e s S e r i e s 1 __________________
1910
do
do
S e r i e s 3 __________________________
191.6
M in n c a p R e d L a k e & M a n it o b — I s t M $ 7 0 0 ,0 0 0 g . F . x c
3 3 I*
1905
M l n n e a p & S t L — S t o c k , a ll o f o n e c la s s , $ 2 6 .O 0 o ,o 0 0
F i r s t m t g e M c r r l a m J u n e t o A l b e r t L e a g ____F . z c
109
1877
P a c i f i c E x t e n s i o n f i r s t m o r t g a g e g o l d _______ E m . z c
103
1881
F ir s t C o n s o l M c lo s e d M g ( V 5 9 , p 1 1 4 5 ) _ N .x c * & r
1894
502
138
D e s M o in e s & F t D o d g e g o ld g u a r p & I ..C e .x c * & r '
1905
F ir s t & l t c f M $ 1 3 ,2 4 4 ,0 0 0 g o l d ( $ 1 8 ,0 0 0 p m ) . _ C e x
779
1899
1912
R e fu n d a n d E x t e n M $ 7 5 ,0 0 0 ,0 0 0 g r e d 1 0 5 .U x c * & r*
1 .4 0 9
X A n a d d l t l o n a l > 7 0 , 0 0 0 is g u a r b y N Y C e n t r a l R R .
Par
V a lu e
100
&C
100
&c
1 .0 0 0
5 0 0 -1 0 0 0
1 ,0 0 0
25
tern — S e
50
1 ,0 0 0
500 &c
1 0 0 ,0 0 0
1 ,0 0 0
1 ,0 0 0
100
500 &c
1 ,0 0 0
1 ,0 0 0
1 .0 0 0
1 .0 0 0
1 .0 0 0 & o
A M ID D L E T O W N
&
U N IQ N V 1 L L E
R R .— M id d le to w n .
N .
Y ..
to
U n l o n v il lo , N . Y . , 1 3 .6 5 m il e s .
H a s a n a g r e e m e n t w it h th e N . Y . O n t a r io
& W e s t e r n R y . f o r t h o u s e In p e r p e t u i t y b o t h o f t h e t e r m i n a l I n M i d d l e
t o w n a n d o f t h o m il e o f t r a c k u s e d In o n t e r in g t h a t c i t y .
R e o r g a n iz a t io n In 19 1 3 ( V . 9 7 , p . 8 8 7 ) o f M id d le t o w n U n io n v illo &
W a t e r G a p R R . , fo r e c lo s e d a n d s t o c k , $ 1 5 0 ,0 0 0 .
A d ju s t m e n t m o r tg a g e
c o u p o n s h a v e b e e n p a id a s fo llo w s : N o v . 1 9 1 5 , 1 % ; M a y 1 9 1 6 t o N o v .
1 9 1 7 , 2 % s e m i-a n n u a lly ; M a y 1 9 1 8 (fo r 6 m a s . e n d in g O c t .
1 9 1 7 ), 4 % ;
N o v . 1 1 9 1 8 (fo r 6 m o s . e n d in g A p r il 1 9 1 8 ), 3 % .
V . 107, p
1670.
F o r 12 m o s . e n d in g D e c . 31 1 9 1 7 , g r o s s . $ 8 9 ,3 1 9 ; n e t , $ 3 8 ,0 3 7 ; in t . o n
b o n d s , $ 2 1 ,3 2 0 ; r e n t a ls , & c .. $ 2 ,8 2 5 ; b a l., s u r .. $ 1 3 ,8 9 2 , a g a in s t $ 1 ,8 2 4
In 1 9 1 6 .
C h a ir m a n . N e w m a n E r b ; P r e s ., C h a r le s I . H o n r y , 21 S t a t e S t ,
N . Y . ; V .- P . & G e n . M g r ., J . A . S m ith : T r e a s .. G a r r e t t T . T o w n s e n d ; S e c .
F r a n k I I , F in n ,— ( V . 1 0 5 , p . 1 6 1 7 ; V . 1 0 6 , p . 1 7 9 7 ; V . 1 0 7 , p . 1 6 7 0 .)
A M I D L A N D P E N N S Y L V A N I A R A I L R O A D .— P r o je c t e d fr o m M ille r s b u r g . P a t o A s h la n d . 4 4 m ile s .
S t o c k a u t h o r iz e d a n d o u t s t a n d in g , $ 2 ,
0 0 0 .0 0 0 .
B o n d s a u t h o r iz e d . $ 2 ,0 9 0 ,0 0 0 .
A b o u t $ 8 1 2 ,3 0 0 b o n d s Issu ed
t o F e b . 1 9 1 6 a c c o u n t c o n s t r u c t i o n 1 5 m i l e s , N I il le r s b u r p f t o G r a t z c o m p l e t e d
in 1 9 1 6 .
I n t . d e fa u lte d J u l y 1 9 1 2 .
P r o s ., W m . J . L a t t a ; S e c .- T r e a s . a n d
G e n . M g r ., G e o . A . A ld r ic h , A u d u b o n , N . J .— ( V . 9 5 , p . 2 9 8 ; V . 9 9 , p . 4 6 7 .)
A MIDLAND R A I L W A Y . — S a v a n n a h , G a . . t o M l d v U l e . 9 0 m i l e s .
V.
105. p . 1118.
f o ^ e r l y S a v a n n a h A u g u s t a & N o r t h e r n R y . . s o l d in 1 9 1 0
b y r e c e iv e r fo r $ 2 5 0 ,0 0 0 t o W . J . O liv e r .
V . 101. p . 450
1372
T h i s c o m p a n y in J a n . 1 9 1 9 ( V . 1 0 8 , p . 7 9 ) a p p l i e d t o t h e G e o r g i a R R .
C o m m is s io n lo r a u t h o r it y t o is s u e 8 1 ,0 0 0 ,0 0 0 u n d e r it s F ir s t C o n s o ls , a s
f o l l o w s : $ 6 0 0 ,0 0 0 . t o b e u s e d a s c o l l a t e r a l s e c u r i t y f o r a l o a n f r o m t h e U . S .
R R . A d m in is t r a t io n o f $ 3 5 0 ,0 0 0 i f g r a n t e d ; $ 3 6 0 ,0 0 0 t o r e t ir e F ir s t M t g e .
b o n d s n o w o u t s t a n d i n g , a n d t h e r e m a in d e r , $ 4 0 ,0 0 0 , t o b e u s e d In p r o
v id in g w o r k in g c a p it a l.
V . 1 0 8 , p. 7 9 .
.
★ M I D L A N D V A L L E Y R R .— O w n s a n d o p e r a te s fr o m E x c e ls io r
A r k .,
s o u th t o l l o y e . A r k ., a n d n o r th t o F id e lit y , A r k .; a ls o fr o m E x c e ls io r w e s t
t o S ilv e r d a lo , K a n ., a n d fr o m J e n k s , O k la ., t o K ie fe r , O k la ., a t o t a l o f
3 1 0 .1 7
m llo s ; a ls o o p e r a t e s u n d e r t r a c k a g e f r o m R o c k I s la n d , A r k . , t o F t .
S m it h , 16 m .. a n d S ilv e r d a le t o A r k a n s a s C i t y . K a n ., 9 .; le a s e s W i c h it a &
M id la n d V a lle y U R ., A r k a n s a s C it y t o W i c h it a . 51 m ile s , f o r 5 0 y e a r s fr o m
J u l y 2 9 1 9 1 1 ), f o r * 2 5 % o f t h e g r o s s e a r n i n g s ( a n d a n y d e f i c i e n c y n e c e s s a r y
t o m e e t th e b o n d in t. a n d t a x e s ); t o t a l o p e r ., 3 8 6 .2 5 m . V 9 2 . p . 4 6 2 , 7 9 6 .
,l 9 V ? 5 5 » < U ' « t e d w i t h o u t f o r e c l o s u r e . V . 9 6 . p . 5 5 4 .
T h e U . S . R R . A d m i n , in M a y 1 9 1 8 s a n c t i o n e d c a p i t a l o u t l a y s o f $ 2 2 0 , 0 0 0
a n d a d v a n c e d th e c o m p a n y t o O c t . 1 1 9 1 8 $ 2 7 0 ,0 0 0 .
V . 107, p . 1344.
A N D
“ ST A N D A R D
R E T U R N .”
& c .— S ee p a g e 5 .
c™
° “ - 5 1 6 .0 0 0 ,0 0 0 ; p r e f ., $ 5 ,0 0 0 ,0 0 0 ; o u t s t a n d in g .
$ 4 , 0 0 6 ,5 0 0 e a c h o f c o m m o n a n d 5 % p r e f . ( p r i n . a n d d i v . ) ; p a r , $ 6 0 .
S tock
Is a l l h e l d In a v o t i n g t r u s t t e r m i n a t i n g J a n . 1 1 9 2 4 o r a t a n y t i m e a f t e r
M a y 1 1 9 1 8 . a t th e d is c r e tio n o f th e v o t in g tr u s te e s; E d w a r d T . S t o t e s b u r y ,
S id n e y F . T y l e r , J . R . V lc A llis t e r , L lo y d W . S m ith a n d F r a n c is I . G o w e n .
T h o p r e f . s t o c k Is r e d e e m a b l e a t p a r o n a n y d i v . d a t e a f t e r J u l y 1 1 9 1 6 o u 3 0
o a y s n o t ic e , a n d s u b je c t t o th e r ig h t o f th o C h e r o k e e C o n s t r u c t io n C o .
( w h i c h o w n s a ll o r t h e c o m . s t o c k ) t o p u r c h a s e a s f o l l o w s : 1 9 1 6 a n d 1 9 1 7
a t 4 0 % ; 1 9 1 8 a n d 1 9 l9 ,_ 4 o % ; 1 9 2 0 a n d 1 9 2 1 , 5 0 % ; 19 2 2 a n d 1 9 2 3 , 5 5 % .
BONDS.— T h e f i r s t 5 s a n d a d j u s t m e n t M . ( I n c o m e ) 5 s , I s s u e d p e r p l a n
V . 9 6 , o . 5 5 4 , a re a fir s t a n d s e c o n d lie n , r e s p e c t iv e ly , o n (1 ) th e e n tir e
p r o p e r t y ; ( 2 ) t h e l e a s e h o l d I n t e r e s t In t h e W i c h i t a & M i d l a n d V a l l o y R R .
a n d a ll t h e $ 1 ,0 2 5 ,0 0 0 1 s t M . b o n d s o f t h o la t t e r a n d $ 4 6 0 ,0 0 0 o f Its $ 5 0 3 ,3 0 0
c o m m o n s t o c k ; ( 3 ) a ll o f t h e $ 2 5 0 ,0 0 0 s t o c k a n d $ 1 ,2 5 0 .0 0 0 1 st M . 5 s o f t h e
S o b a s t la n C o u n t y C o a l & M i n i n g C o . o w n in g a b o u t 1 8 ,5 0 0 a c r e s o f s e m i
a n t h r a c it e c o a l la n d s .
O f th e fir s t S a . $ 6 ,0 0 0 ,0 0 0 h a v e b o o n Issu e d o n
a c c o u n t o f r e tir e m e n t o r o u t s t a n d in g b o n d s a n d o t h e r in d e b t e d n e s s a n d
I m p t s ., & e ., o f t h e r e m a in in g $ 1 0 ,0 0 0 ,0 0 0 r e s e r v e d fo r $ 8 5 % o f th e c o s t o f
lm p t s ., e x t o n s ., & c .. u n d e r c a r e fu l r e s t r ic t io n s .
$ 2 2 4 ,0 0 0 h a v e b o o n is
s u e d , m a k in g $ 5 ,2 2 4 ,0 0 0 o u t s t a n d i n g .
See V . 9 6 . p . 1423, 1489.
T h e I n t e r e s t o n t h e a d j u s t m e n t M . b o n d s is t o b e p a i d a n n u a l l y , i f e a r n e d ,
b u t is n o t t o b e c o m e a r i x e d c h a r g e , a n d Is n o t t o b o c u m u l a t i v e u n l e s s t h e
C h e r o k e e C o n s t r u c t i o n C o . s h a ll e x e r c i s e t h o o p t i o n t o p u r c h a s e t h e p r o f .
Tho
$ 3 ,5 1 2 ,5 0 0
S ern a A b on d s h a v e
p r io r it y
b oth
ns
to
H on a n d
p a y m e n t o f I n te r e s t o v e r t h e $ 2 ,0 0 0 ,0 0 0 S e r ie s B b o n d s .
F o r th o y e a r e n d e d J u n o 3 0 191 7 3 % w a s e a r n e d , a n d p a id o u S e p t . 1.
o n A d ju s t m e n t M t g e . S e n e s A b o n d s (c o u p o n N o . 1 ), a n d 4 % I n to r o s t w a s
d e c la r e d p a y a b lo fo r t h o y e a r e n d e d J u n o 3 0 191 8 o n th o A d ju s t m e n t M t g e .
S e r ie s “ A " b o n d s ( c o u p o n N o . 2 ) .
T h is p a y m e n t w a s d u o S o p t . 1 1 9 1 8 .
b u t s a m o w a s n o t m a d o u n t il O c t . 2 1 9 1 8 o n a c c o u n t o f fu n d s o f c o m p a n y
b e in g u n d e r G o v e r n m e n t c o n t r o l.
V . 105, p . 909; V . 107, p . 1385.
E A R N I N G S — 1 2 m o s . , ( 1 9 1 8 ..................... G r o s s , $ 3 , 5 0 4 , 7 8 0 ; n e t , $ 8 8 2 , 4 8 9
8 8 6 ,3 2 8
Jan . 1 to D ec. 3 1 .
( 1 9 1 7 ........................ G r o s s , 2 , 9 2 7 , 1 2 7 ; n e t ,
R E F O R T — Y ears en d ed D e c. 31:
C a l.
d ross
N e t (a f t e r
O th er
In ter es t,
B a la n c e,
Y ea r—
E a r n in g s .
T a x e s ).
In com e.
R e n ts, A c . S u r p lu s .
1 9 1 7 ......................................... 5 2 . 9 2 7 . 1 2 7 $ 7 8 8 , 9 2 5
$ 5 3 ,6 6 5
$ 4 6 7 ,2 2 1 $ 3 7 4 ,7 6 5
1 9 1 6 .........................
2 ,1 2 1 .1 6 6
5 5 8 .5 9 7
5 3 .9 2 0
3 3 1 .2 1 3
2 8 0 .1 1 1
B r o s ., C . F . I n g e r s o ll; S e c . & T r e a s ., J . R . K . D e la n e y .
O ffic o , L ib e r t y
B u ild in g , P h lla .; l e d o r a l M g r ., J . A . E d s o n , K a n s a s C i t y , M o . ; G e n e r a l
M g r . u n d o r U . S . G o v t . , C . E . J o h n s o n .— ( V . 1 0 7 , p . 1 8 2 , 1 3 8 5 .)
★ M I L L C R E E K & M I N E HILL N A V I G A T I O N & R R . — M i l l C r e e k J e t . t o
B r o a d M o u n t a i n . F a . . 4 . 0 1 i n . ; b r a n c h e s . 1 .9 0 m . ; s e c o n d t r a c k , 3 . 7 9 m . ;
t o t a l t r a c k , 5 9 .1 7 m .
L e a s e d In 1 8 6 1 f o r 9 9 9 y e a r s t o P h l l a . & R e a d i n g R R . ;
l e a s e a s s u m e d In 1 8 9 6 b y P h l l a . & R e a d i n g R a i l w a y , r o n t a l , $ 3 3 , 0 0 0 & t a x e s .
A m ount
O u tsta n d in g
$ 1 ,0 0 0 1 $ 1 .0 0 0 .0 0 0 I
1 .0 0 0 & c J
1
l.O O O & c
7 .6 3 4 .0 0 0
1 .5 0 0 ,0 0 0
7 0 0 .0 0 0
1 ,0 0 0 & c
1 .7 0 7 ,0 0 0
1 .0 0 0
1 .5 0 0 .0 0 0
3 .6 0 0 ,0 0 0
1 .0 0 0
8 ,0 4 8 ,8 4 3
7 ,8 0 0 ,0 0 0
1 .0 0 0 & c
1 .0 0 0
4 9 .0 0 0
X 4 2 1 .0 0 0
1 ,0 0 0
1 .0 0 0 & C
3 .1 0 0 .0 0 0
A M I C H I G A N E A S T & W E S T R Y .— M a n is te e t o M a r io n , M ic h ., 7 2 m ;
I n M a r c h 1 9 1 8 w a s d e n ie d a u t h o r it y t o d is c o n t in u e b u s in e s s a n d j u n k th e
road.
S o ld u n d e r fo r e c lo s u r e A u g . 2 1 9 1 8 a s a g o in g b u s in e s s t o t h o W illia m
T .
J o y c e C o ., C h ic a g o , m o r tg a g e e .
V . 107, p . 696; V . 106, p . 1126,
189; V . 105, p . 607; V . 91. p . 887, 365; V . 98, p . 74.
S t o c k , S I , 0 0 0 ,0 0 0 ;
o u t s t a n d i n g . $ 2 0 0 ,0 0 0 ; p a r , $ 1 0 0 .
L o a n s a n d b ills p a y a b lo D e c . 31 1 9 1 7 .
$ 1 3 1 ,4 6 9 .
F o r y e a r e n d in g D e c . 3 1 1 9 1 7 , g r o s s , n e t d o f ., $ 2 8 ,6 9 2 : i n t .,
r e n t a ls , & c ., $ 1 6 ,6 0 2 : d e f ic it , $ 1 4 ,9 0 9 .
P r e s ., J . S . J o y c e ; T r o a s ., F . P .
L e f f i n g w c l l , b o t h o f C h i c a g o .— ( V . 1 0 7 , p . 6 9 6 .)
“ A D V A N C E S”
APrlvate
Control.
RAILWAY STOCKS AND BONDS
R a te
%
5
5
4
4
5
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D iv id e n d s a re P a y a b le
L a s t D iv id e n d
a n d M a tu rity
M
e
g
&
S M ch 1 1 9 3 1
M ch 1 1931
C, — M
A
&
O A p r 1 1929
M
&
S S ept 1 1959
M
&
N N o v 1 1939
&
S S en t 1 1951
e M
J & J
1C J u l y 1 0 1 9 5 7
A
&
O O c t '1 9 - O c t '3 0
T o .T an 1 1 Q9R
M
&
S M a r 1 ’ 2 0 - ’3 2
J
&
D D ec 1 1989
J
&
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&
JJan
1 1956
2 0 0 ,0 0 0
6 g
2 5 0 ,0 0 0 S e e
tex t
8 1 2 ,0 0 0
5 g
See te x t
5 .2 2 4 ,0 0 0
5 g
5 ,5 1 2 ,5 0 0 U p t o 5 %
1 .0 2 5 ,0 0 0
5 g
3 2 3 .3 7 5
10
e C h ic a g o & N o r t h W
M
M
J
&
&
&
N N o v 1 1933
N N o v 1 1933
J J u ly 1 I 9 6 0
&
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O Apr 11943
S e p t. 1 A p r 1 1953
A
&
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1 1931
&
J
J J u ly 1 9 1 8 5 %
estern
J &
4 .2 1 0 .2 0 0
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&
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1 .0 0 0 .0 0 0
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9 5 0 ,0 0 0
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A
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M
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N
5 ,2 8 2 ,0 0 0
5 g
&
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1 3 .2 4 4 .0 0 0
4 g
4 ,0 8 5 .9 5 6
5 g
Q— F
J a n 15 T 9 2 H
M a y 1 1925
J a n 1 1931
Jan
1 1951
J a n 1 1931
T o O ct 1 1920
T o M a r 1 1921
Ju n e 30 1925
June
Apr
N ov
Jan
M ch
F eb
1 1927
11921
11934
1 1935
1 1949
1 1962
79
do
do
G ra n d C en tra l T e r m . N Y
do
do
do
do
do
do
R eg at G C T ; cp at G Tr
G u a ra n ty T ru st C o, N Y
N e w Y o r k a n d P h lla
U n io n
T ru st C o, N
V
do
do
G ra n d C en tra l T e r m . N Y
E m p ir e T r u s t
Jo, N Y
B an k ers T ru st C o , N Y
J u ly 1 9 1 2 c o u p n o t p a id
N ew
Y ork
and
P h lla
See tex t
O ffic e , P h ila d e lp h ia , P a
R e a d in g T e r m , P h lla , P a
O ffic e 1 1 9 S 4 th S t . P h lla
F arm ers L & T r C o, N Y
5 5 W a ll S t, N e w Y o r k
A ll o w n e d b y C a n P a c lflo
5 5 W a ll S t, N ew Y o r k
M a r q u e tte , M ic h
M a r q u e tte , M ic h
F ir s t T ru st. & S B k , C h ic
25 B roa d S t, N ew Y o rk
do
do
do
do
do
do
do
do
do
do
do
do
★ MINE H IL L & S CH U YL K IL L HAVEN R R. — F r o m S c h u y l k i l l H a v e n to
A s h la n d a n d E n t e r p r is e J e t .. 3 6 .7 2 m .; 2 d t r a c k , 1 8 .8 5 r a .: t o t a l t r a c k ,
1 2 9 .9 1 m .
I n 1 8 9 7 r e n t a l r e d u c e d t o 6 % o n s t o c k u n d e r n e w le a s e l o r 9 9 9
y e a r s fr o m J a n . 1 1 8 9 7 t o P h lla
& R e a d . R y . C o . ; 2 IS % Is p a i d I n J a n . a n d
3 % In J u l y .
b e in g d e d u c t e d f o r t a x e s .— ( V . 9 6 . p . 1 3 6 5 . 1 4 2 3 .)
A MINERAL POINT & NORTHERN R Y .— H i g h l a n d t o H i g h l a n d J e t . ;
W is ., 2 6 .4 m ile s : t r a c k a g e t o M in e r a l P o in t , 4 .2 m .; t o t a l, 3 0 .6 m ile s .
S t o c k , $ 5 5 0 ,0 0 0 : p a r . $ 1 0 0 .
B o n d s , s e e t a b le .
F o r c a l. y e a r 1 9 1 7 , g r o s s ,
$ 1 2 0 ,5 5 3 ; n e t , $ 1 4 ,0 8 3 ; c h a r g e s , $ 3 0 ,9 4 1 ; d e f . , $ 1 6 ,8 5 8 .
In 1917, g ro ss,
$ 1 3 7 ,3 1 4 ; s u r p lu s , a ft e r c h a r g e s , $ 1 5 ,1 4 1 .
P r e s ., T h o s . D . J o n e s , C h ic a g o ,
V .- P ., A . D . T e r r e ll, C h ic a g o .
★ MINERAL RANGE RR. —
H o u g h t o n . M i c h . , t o C a l u m e t . M i c h . , 14 m . ,
H a n c o c k t o M o h a w k , 2 0 r a . ; b r a n c h e s , 2 8 m . ; S o u t h R a n g e e x t e n . , Ke
w een a w B a y to R id d le J e t
36 m : tra ck a g e . 3 m .
“ A D V A N C E S ” A N D “ S T A N D A R D R E T U R N ,” & c .— S e e p a g e 5 .
I n 1 8 9 5 p a id d i v i d e n d s o r 1 0 M > % ; in 1 8 9 0 . 7 % ; 1 8 9 7 . 7 % ; 1 8 9 8 , 3 > S % ;
a o n e s in c e .
S t o c k , $ 1 ,5 0 0 ,0 0 0 :
p ar. $100.
B O N D S .— C o n s o ls fo r $ 1 ,0 0 0 a r e r e s e r v e d f o r $ 3 ,0 0 0 o l d b o n d s .
O f th e
$ 5 9 3 ,0 0 0 o u t s t a n d i n g , 5 3 3 9 ,0 0 0 a r e 5 s ; t h e C a n . P a c . o n D e c . 3 1 1 9 1 8 o w n e d
tb e r e m a in in g 5 2 5 4 .0 0 0 (w h ic h a r e 4 s ) a n d th e 5 1 ,0 0 0 ,0 0 0 g e n . m t g e . 4 s ,
b o t h o f w h i c h It g u a r , a s t o I n t . V . 7 5 . p . 5 5 4 . S e e V . 7 3 . p . 5 5 6 . 6 1 6 : V . 7 3 .
p. 7 8 5 . O f t o n n a g e in 1 9 1 7 , 8 7 % w a s o r e s a n d m i n i n g p r o d u c t s . E q u i p ,
tr u s t n o t e s A p r . 3 0 1 9 1 8 , S 3 7 6 .9 0 3 , in c l u d i n g d e fe r r e d in t e r e s t .
E A R N I N G S . — 1 2 m o s . , ( 1 9 1 8 .................... G r o s s ,
Jan . 1 to D e c. 31.
\ 1 9 1 7 ___________ G r o s s ,
$ 1 ,1 4 3 ,5 3 4 ;
1 ,1 8 4 ,8 5 0 ;
n e t,
n e t,
$ 4 2 ,2 7 2
6 2 ,3 4 8
E A R N I N G S .— F o r 6 a n d 12 m o s . e n d in g D e c . 3 1 :
G ross.
N e t.
O th . I n c
C h a rg es.
B a la n c e.
1 9 1 7 ( 1 2 m o s . ) ............. $ 1 , 1 8 4 , 8 5 0
$ 2 1 ,9 5 9
$ 9 ,3 1 2
S 1 2 5 .5 7 0 d e f .$ 9 4 ,2 9 9
F e d e r a l M g r . , G . R . H u n t i n g t o n , M i n n e a p o l i s , M i n n . — (V -. 1 0 6 , p .
1 8 9 ; V . 1 0 7 . p . 6 9 7 .)
A (MINNEAPOLIS RED LA KE & MANITOBA R Y .— B e m l d j l t o R c d b y .
.v H tin ., 3 3 H m i l e s .
S t o c k , 5 1 0 0 ,0 0 0 ; b o n d s (s e e t a b l e ) .
F o r y e a r ending
D e c . 3 1 1 9 1 6 . g r o s s , $ 6 5 ,0 2 6 : o p e r . e x p ., $ 5 5 ,3 5 5 ; n e t , $ 9 ,6 7 1 ; t a x e s , r e n ta ls
an d fix e d c h a r g e s . $ 7 2 5 ; In t. o n
b o n d s , $ 3 5 ,0 0 0 ;
b a l.. d e f ., $ 2 5 ,7 6 3 .
P r e s . C . A . S m i t h ; S e c . . A . U e l a n d : T r e a s . . A . L. M o l a n d e r , Bemldjl.
★ MINNEAPOLIS & ST. LOUIS R R . — (See M a p . ) — R o ad Includes:
R o a d O w n ed —
M ile s .
R oa d O w n ed (C o n tin u e d ) —
M iles .
M i n n e a p o l i s t o A n g u s . I a ______ 2 6 0
W in th r o p , M in n ., t o S to r m L a k e .154
D e s M o i n e s t o R u t h v e n , I a ___ 1 3 8
B r a n c h e s ____________________________
166
H o p k in s . M in n ., t o L e o la , S .D .3 3 0
T r a c k a g e __________________________
109
C o n d e t o L e B e a u , S . D _________ 1 1 5
o w a J e t . . 111., t o N o r t h w o o d _ . 3 7 5
T o t a l o w n e d a n d o p e r a t e d D e c 3 1 1 9 1 7 ____________________________________1 . 6 4 7
L e a s e s t o O . R . I . & P . . A lb e r t. L e a t o I o w a L in e . 13 m . . ln c l . a b o v e .
O R G A N I Z A T I O N . — I n c o r p o r a t e d In I o w a J u n e 3 0 1 9 1 6 ( V . 1 0 3 , p . 1 4 5 )
as a c o n s o lid a t io n o f M i n n . & S t . L o u is R R . o f M i n n , a n d I o w a ( V . 5 9 ,
p. 3 7 1 : V . 9 3 , p . 1 6 6 8 ), a n d T ow a C e n tr a l & W e s te r n R y . p e r p la n o f F e b .
1916. V . 1 0 2 . p . 522, 529; V . 103, p . 2163: V . 104. p . 2240.
“A D V A N C E S” A N D “ ST A N D A R D R E T U R N ,
& c — See p a ge 5.
S T O C K .— T h e n e w c o n s o lid a te d c o m p a n y h as an a u th o r iz e d c a p it a l
s t o c k o f $ 2 6 ,0 0 0 ,0 0 0 ( p a r $ 1 0 0 ) , a ll o f o n e c l a s s , o f w h i c h t h e r e w a s I s s u e d
fo r t h w it h $ 2 5 ,7 9 2 ,6 0 0 . th e r e m a in d e r t o b e r e s e r v e d f o r fu t u r e n e e d s .
D IV 1 D S .
) ’9 7 . ’9 8 . ’9 9 . ’0 0 . ’0 1 . ’0 2 . ’0 3 . ’0 4 .
P r e f e r r e d _______ i 3
3H 4H 5
5
5
5
5
C o m m o n _________J --------N o n e ------1 J 4 4
5
5
2 H
’0 5 t o J a n .T O .
5 y e a r ly
0
N on®
s in c e
B O N D S . A O . — B o n d s d u e 1 9 2 7 , N o s . 1 ,1 0 1 t o 1 , 4 0 0 , f o r $ 5 0 0 e a c h , a d d i
tio n a l t o th o s e a b o v e , w e r e a s s u m e d b y B . C . R . & N . (n o w C . R . I . & P .)
F i r s t R e f u n d i n g m t g e . o f 1 8 9 9 Is l i m i t e d t o $ 1 3 , 2 4 4 , 0 0 0 .
T b e m t g e . Is a
1 s t lie n o n 2 7 7 m ile s o f r o a d a n d o n $ 2 9 9 ,5 0 0 s t o c k o f R a il w a y T r a n s fe r C o
o f M in n e a p o li s ; a ls o a b la n k e t lie n o n r e s t o f p r o p e r t y . V . 6 8 . p . 1 8 7 , 3 3 2
V . 79, p . 2147; V . 80, p . 2220; V . 87, p . 1420; V . 88, p . 295, 452, 506.
See V . 69 . p . 32 .
T he “ R e fu n d in g a n d E x t e n s io n " 5 0 -y e a r b o n d s , d a t e d J a n . 1 1 9 1 2 ( 5 7 5 ,0 0 0 . 0 0 0 a u t h I s s u e ) a r e s e c u r e d b y a g e n e r a l li e n o n p r o p e r t i e s n o w o w n e d ,
s u b je c t t o e x is t in g lie n s , a n d h a v e a f ir s t lie n o n 2 2 9 .6 0 m ile s o f r o a d , v i z . ,
W a t e r t o w n t o L e o l a , S . D . , 1 1 4 .1 3 m il e s , a n d C o n d e t o L e B e a u 8 . D . ,
1 1 5 .4 7
m ile s .
A m o u n t is s u e d , $ 6 ,8 0 0 ,0 0 0 ; a m o u n t o u t s t a n d i n g , D e c . 3 1
1 9 1 7 , $ 4 ,0 8 5 ,9 5 6 : b a la n c e in t r e a s . o r p le d g e d f o r l o a n s , & c . I n 1 9 1 2 $ 3 9 ,
8 9 1 ,0 0 0
w e r e r e s e r v e d t o r e tir e a li k e a m o u n t o f u n d e r ly in g b o n d s ,
$ 1 ,0 3 6 ,0 0 0
to
r e tir e
e q u ip m e n t
o b lig a t io n s ,
$ 1 1 ,0 7 3 ,0 0 0
fo r
Im
p r o v e m e n t s , s e c o n d t r a c k , & c ., S 3 .0 0 0 .0 0 0 t o p u r c h a s e r o ll in g s t o c k
a n d $ 1 0 ,0 0 0 ,0 0 0 fo r a d d it io n a l r o a d , o r t e r m in a ls .
V . 93 , p . 1688; V . 94 ,
p . 279. 4 8 7 . 631; V . 9 6 . p . 136; V . 9 8 . P. 1316.
T h o 5 3 . 0 7 2 . 0 0 0 D o s M o l l i e s ,V F o r t D o d g e 4 % b o n d s d a t e d J a n . 1 1 9 0 5
w ere g u a r ., p . A i.
V . 79. p . 1704. 2696.
T h e $ 2 0 0 ,0 0 0 H o c k i n g C o a l C o .
1 s t 6 s ( $ 6 0 0 ,0 0 0 a u t h . is s u e ) a r e a ls o g u a r .
V . 96. p. 360.
E q u ip , tru s ts,
V . 104, p . 952: V . 101. p . 1714, 1629.
T h e D i r e c t o r - G e n e r a l in M a y 1 9 1 8 lo a n e d t h is c o . $ 7 5 0 ,0 0 0 o n d e m a n d ,
a d e q u a t e ly s e c u r e d b y c o lla te r a l, a t 6 % In t.
C om p a re V . 106, p . 1860.
E A R N I N G S .— 12 m o s ., ( 1 9 1 8 - .G r o s s , $ 1 2 ,0 2 8 ,3 0 0 ; n e t a ft e r
$ 6 5 7 ,2 0 4
Jan . 1 to D e c. 31 .
\1 9 1 7 .-G r o s s ,
1 1 ,0 0 5 .0 6 3 ;
ta x e s,
3 ,1 5 3 ,4 8 8
A N N U A L R E P O R T . — R e p o r t f o r c a l. y e a r 1 9 1 7 in V . 1 0 7 , p . 9 9 9 :
C a le n d a r Y e a r s —
1917.
1916.
1915.
G r o s s e a r n i n g s . . . ............................................... $ 1 1 , 0 0 5
6 3 $ 1 0 ,9 9 5 ,2 2 3 $ 1 0 ,3 1 9 ,2 1 0
N e t . a f t e r t a x e s .....................................................$ 2 , 5 9 3 , 6 7 1
$ 3 ,1 9 8 ,6 3 2
$ 3 ,0 3 0 ,9 2 5
O t h e r i n c o m e ..........................................................
x 2 4 1 ,5 4 7
8 0 ,6 2 7
1 0 0 .8 5 8
T o t a l n e t i n c o m e ___________
I n t e r e s t o n f u n d e d d e b t ................................
H i r e o f e q u i p m e n t ...............................................
M i s c e l l a n e o u s d e d u c t i o n s _______________
$ 2 ,8 3 4 ,6 1 8
$ 2 ,0 0 3 ,7 8 9
C r .7 ,4 1 0
1 2 7 ,1 8 8
$ 3 ,2 7 9 ,2 5 9
$ 2 ,0 9 2 ,5 0 4
1 4 5 ,5 4 7
2 9 1 ,0 9 0
$ 3 ,1 3 1 ,7 8 3
$ 2 ,1 4 3 ,8 0 3
4 2 ,6 5 9
5 0 1 ,5 2 3
B a l a n c o , s u r p l u s ............................................
$ 6 5 1 ,0 5 1
$ 7 5 0 ,1 1 8
$ 4 4 3 ,7 9 8
x I n c r e a s e d u o c h ie f l y t o d iv i d e n d o n H o c k i n g C o a l C o . s t o c k , $ 7 4 ,3 1
a n d I n c r e a s e o f $ 8 4 ,9 4 3 In r e n t a l f r o m M i n n e a p o l i s R y . T r a n s f e r .
80
★ Control.
Government
R A IL R O A D C O M P A N IE S
[F o r a b b r e v ia tio n s . & c ., s e e n o te s o n f i r s t p a n e]
M i n n e a p o l i s & S t L o u i s (C o n c lu d e d )
E q T r s e r B g o l d d u e $ 1 8 , 0 0 0 y e a r l y _______ P e P .
do
S e r O p a r t d u e y e a r l y _____________________ P e P x
do
S e r D d u e $ 4 0 ,0 0 0 e a c h N o v i ; c a ll 1 0 2 H .P e P
do
S e r E d u e $ 1 7 0 , 0 0 0 y l y F e b 1 c a l l 1 0 2 )*j P e P c
A m L o c o m o t r u s t s d u e S 6 ,2 ;> 0 q u a r V . 1 0 0 , p 5 5 6 - l o w a C e n t r a l 1 s t M 6 ( V 4 9 . p 5 8 2 ) --------------------- M e . z o *
1st R e f m t g e $ 2 5 ,0 0 0 ,0 0 0 g (s e e t e x t ) . U n . x o * A r
C a r t r u s t s s e r A d u n $ 3 2 , 0 0 0 y r l y ------------------ P e P . x o *
C a r t r u s t s s e r B d u e $ 1 5 , 0 0 0 y r l y ----------------P e p . x o *
R o c k C o a l C o I s t M $ 6 0 0 ,0 0 0 g u r e d 1 0 5 8 f - - E m .r c *
M in n S t P a u l & S S t e M a r ie — C o m s t o c k $ 4 2 , 0 0 0 . 0 0 0 . .
P r e f e r r e d s t o c k 7 % n o n - c u m $ 2 1 , 0 0 0 , 0 0 0 --------------------W i s c o n s i n C e n t l e a s e d li n e c t l s $ 1 2 , 5 0 0 , 0 0 0 a u t h . .
M ln n -S a u lt S t e M a r ie & A t la n t i c 1 s t M g o l d . C e . z c *
1st C o n s M g . In t g u a r (e n d ) ($ 3 ,4 7 7 ,0 0 0 5 s ) - C e ,x c *
S e c o n d m o r t g a g e $ 5 , 0 0 0 , 0 0 0 g o l d l n t g u a r ---------C e . x
C h ic a g o T e r m in a l j o in t 1st M g r e d t e x t - Q .x o * A r*
C a r t r u s t S e r B d u e $ 6 1 . 0 0 0 s c m l - a n n u a l l l y -------- C e . x
do
S e r C g o l d d u e $ 6 0 ,0 0 0 s c m l - a n n u a l l y .C e .x
do
S e r D g d u e $ 5 1 ,0 0 0 s -a (V 9 5 , p 7 5 0 ) — x
do
S e r E g $ 1 6 9 ,0 0 0 s - a ( V . 9 6 ,p .2 0 3 ) - - - O x c
do
S e r F d u e $ 6 4 ,0 0 0 a -a (V 9 7 . p 1 6 6 3 ) . Q P c *
do
S e r G d u o $ 7 5 ,0 0 0 s -a (V 1 0 3 p 1 8 8 8 ) .E m .c
F a i r m o n t & V e b l l n R y 2 d M b o n d s _______________________
M i n n e s o t a T r a n s f — 1 s t M ft, c a l l 1 0 2 A
1922 s f c*A r*
M ile s
R oad
502
539
495
3 ,1 5 8
3 .1 6 8
164
M o & lll B r & B e lt— S t C M & S t L B I s t M r e d g - S S t .z o '
C o n s o lid a t e d m o r t g a g e $ 2 ,5 0 0 ,0 0 0 a u t h o r iz e d g _ . i
M i s s o u r i K a n s a s & T e x a s - — C o m m o n s t o c k -------------------P r e f e r r e d s t o c k 4 % n o n - o u m u l a t l v e --------------------------------
F ir s t E x t e n s i o n m o r t g a g e g o l d $ 3 , 2 5 4 , 0 0 0 . - C e .x o *
1 .5 9 9
1 ,5 9 9
163
S e c o n d m o r t g a g e g u a r a n te e d , b e in g r e t ir e d .
S h S h & S o 1 s t M ( $ 2 0 , 0 0 0 p m ) g a s s ------------- C e . x x o *
102
i 62
182
D a te
B onds
1910
1912
1915
1917
1915
1888
1901
1909
1910
1912
1886
1888
1899
1911
1910
1911
1912
1913
1913
1916
1913
1916
1909
1911
1901
1904
1890
1890
1894
1901
1892
1892
1893
A m ount
O u ts ta n d in g
Par
V a lu e
$ 1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
250 A c
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
100
lt x i
100
1 .0 0 0
1 ,0 0 0
1 ,0 0 0
1 .0 0 0 A c
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
500 &o
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
100
100
5 0 0 &0
500 &o
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
1 ,0 0 0
C h a i r m a n , C h a s . H a y d e n ; P r e s . , __________________ : Y . - P r e s . & T r e a s . , F . n .
D a v i s , N . Y .; V .-P r e s ., J . S . B a c h e . N . Y .; S e c . & A s s t. T r e a s ., A . C . D o a n ,
N . Y . ; F e d . M g r . , \V. 11. B r e m n e r , S t . P a u l ; M i n n . ; F e d . T r e a s . , W . W .
C o le , M in n e a p o lis , M in n .
O ffic e , 2 5 B ro a d S t.
D ir e c to r s .— H . E . H u n t in g t o n , F . I I . D a v i s , C h a r le s I l a y d e n , J . S .
B a c h e , E . V . P . T h a y e r , N e w m a n E r b . A . C . D o a n , N . Y .; F . P . F r a z ie r ,
N . Y . ; I1’ . C . L e t t s , C h i c a g o : F . A . C h a m b e r l a i n a n d F . E . K e n a s t o n ,
M in n e a p o lis ; S . B . N o v e m b e r , B a lt o ., M d .— (V . 1 0 5 , p . 1 1 0 4 , 1 4 1 9 . 2 3 6 6 .
V . 1 0 6 , p . 2 0 1 1 ,2 4 5 0 ; V . 1 0 7 , p . 6 0 3 , 6 9 7 , 9 9 9 , 1 0 0 4 , 2 0 9 8 ; V . 1 0 8 , p . 2 6 8 .)
★ M I N N E A P O L I S S T . P A U L & S A U L T S T E . M A R I E R Y . — O w n s m a in
lin e f r o m S a u lt S t e . M a r ie , M i c h ., v i a M in n e a p o li s t o P o r t a l , N o r t h D a k o t a ,
a t I n t e r n a t io n a l b o u n d a r y lin e , t h e r e c o n n e c t in g w it h C a n a d ia n P a o ., 1 ,0 4 0
m ile s ; b r a n c h e s , H a n k i u s o n , N . D . , t o M a x , 3 0 5 m ile s ; G lo n w o o d . M i n n . , t o
N o y e s , 2 6 5 m ile s ; T h i e f R iv e r F a lls , M i n n . , t o K e n m a r e , N . D . , 2 9 6 m .:
F o r d v ll le , N . D . , t o D r a k e , N . D . , 131 m ile s ; M o o s e L a k e , M i n n ., t o P lu m
m e r , M i n n ., 1 9 3 in .; W is h e k , N . D ., t o P o ll o c k , 7 0 m .; B r o o t e n t o D u lu t h .
M i n n . . 1 8 8 r n .; L a w l e r t o O u y u n a , 3 9 m . ( V . 9 1 , p . 9 1 2 , 7 8 7 ) ; o t b e i
b r a n c h e s , 5 9 8 . 4 5 m i l e s ; s p u r s , 7 r n .; F a i r m o n t Hr. V e b l o n R y . , F a i r m o n t t o
G r o n v llle , S . D . , 8 7 m . ; t o t a l o w n e d D e c . 31 1 9 1 7 , 3 ,1 3 9 m ile s : a ls o t r a c k
a g e a t M in n e a p o lis , S t . P a u l, S a u lt S te . M a r ie , D u lu t h , S u p e r io r
and
I r o m o n , 3 0 m ile s ; le a s e s W is c o n s in C e n t r a l R y . (w h ic h s e e ) , 1 ,1 2 6 m ile s :
lo s s j o i n t t r a c k a g e , 6 7 m . ; t o t a l o p o r a t o d , 4 ,2 2 8 m i l e s .
O w n o d b u t le a s e d
t o M in n e s o t a N . W . E le c . R y . , T h ie f R iv e r F a lls t o G o o d r id g e . M in n .,
1 9 m ile s .
L a t e in 1 9 1 6 b e c a m e in t e r e s t e d in S p o k a n e I n t e r n a t io n a l R y . :
E d m u n d P e n n in g t o n b e in g n o w P r e s , o f b o t h c o s .
V . 104, p . 1899.
H I S T O R Y . — A c o n s o lid a t io n in 1 8 8 8 o f M in n . S a u lt S t e . M a r ie & A t l .
M in n . A P a c . , A c .
See V . 46, p . 5 3 8 . 609: V . 77. p. 628.
I n 1 9 0 9 5 1 % o f W is c o n s in C e n t. c o m . s t o c k w a s p u r c h a s e d , a ffo r d in g a
C h ic a g o c o n n e c t io n , t h e r o a d b e in g le a s e d f o r 9 9 y e a r s fr o m A p r il 1 1 9 0 9 :
$ 1 1 ,1 7 6 ,8 0 0 4 % le a s e d lin e c t f s . h a v e b o o n is s u e d (s e e W i s . C e n t . ) , s e c u r e d
b y W is . C e n t. p r e f. s t o c k , $ fo r $ . V . 8 8 , p . 2 3 2 , 5 6 4 , 6 8 6 ; V . 9 8 , p . 1668.
I n t . o n W ise. C e n t . 1 s t A ref. 4 s ( $ 3 , 8 1 6 , 0 0 0 o u t ) I s g u a r a n t e e d . V . 9 5 , o . 9 6 8 .
T h e C e n t r a l T e r m i n a l R y . . o r g a n i z e d in 1 9 1 1 . o n A p r . 1 1 9 1 4 q u e u e d a
n e w C h ic a g o t e r m in a l t o r e p la c e t h e f a c ilit ie s le a s e d fr o m t h e I llin o is C e n t r a l.
S e e B O N D S b e lo w .
V . 9 3 . p . 1463. 1387. 871, 285; V . 95. p . 745.
" A D V A N C E S ” A N D “ S T A N D A R D R E T U R N ," A c .— S ee p a g e 5 .
S T O C K .— C a n a d ia n P a c lU c In J a n 1 1 9 1 9 o w n e d $ 1 2 ,7 2 3 ,5 0 0 c o m m o n a n d
$ 6 ,3 6 1 ,8 0 0 p r e fe r r e d .
P r e fe r r e d s t o c k h a s a p r io r r ig h t t o 7 % ( n o n - c u m .) ;
th e n c o m . to 7 % ; th e n sh a re p ro ra ta .
V . 75. p . 549; V . 92, p . 882.
D I V I D E N D S .—
1 ' 0 3 . ’ 0 4 . ’ 0 5 . '0 6 . '0 7 . '0 8 . ’ 0 9 .
1910 to A p r. 1919
C o m m o n _____________ % j 2
4
4
4
4
6
6
7 y e a r ly
B O N D S .— C a n . P a c . g u a r a n t e e s 4 % ln t o n a ll o ld b o n d s a s s e n t in g t o a
r e d u c t io n o f In t. t o 4 % ; a ls o o n c o n s o ls o f 1 8 8 S .
( S e e V . 5 0 . p . 7 8 4 : V 51
p . 2 3 9 .)
A b o u t o n e - h a l f M in n . A P a c . b o n d s a n d p r a c t i c a l l y a ll o t h e r Issu e*
a sse n te d .
A b s t r a c t o f M i n n e a p o li s P o u lt S te
M a r ie A A tla n tic m tg p
In
V . 4 5 , p . 2 4 3 ; C a n . P a c . R y . C o . o n J a n . 1 1 9 1 9 o w n e d $ 3 ,9 9 3 ,0 0 0 o f th o
M . S t. P . & S . S te . M . 1st 4 s .
T h o C o n s o lid a te d m o rtg a g e o f 1 8 8 8 , a b s t r a c t
V . 4 7 , p . 1 4 2 , w a s f o r $ 2 1 ,0 0 0 ,0 0 0 o n 8 0 0 m ile s (s u ffic ie n t o f t h is r e s e r v e d
t o r e t ir e p r i o r b o n d s ) a n d f o r $ 2 0 ,0 0 0 p e r m ile o n a ll a d d i t io n s .
O u tsta n d
in g a m o u n t is , h o w e v e r , r e s t r ic t e d t o t h r e e t im e s t h o s t o c k .
V . 94,
p . 3 5 1 ; V . 7133 ,. p . . _____
1 8 5 ; V . _ 7. 8 ,. ,p ._______
8 2 0 ; V , . 7 9 ,. .p . 1 3 3 2 ; V . 8 0 , ^ > . 6 5 1 ; V . 8 7 ,
98, p . 1316;
p . 1011, 1664; V . 8 9 , p . 779: V . 91, p . 1026: V . 9 5 , p . 544:
V . 100, p . 812: V . 103, p . 321: V . 106, p . 1126.
A s to 2 d 4 s, see V . 68,
p . 669, 771, 977; V . 71, p . 845; V . 85, p . 1616; V . 96, p . 1089.
T u e C h i c a g o T e r m i n a l : s i s i . 3 0 - y e a t g o t o -is ( $ 2 0 , 0 0 0 . 6 1 ) 0 a u t h . ) a r e s e
o u r e d u n d e r a m in t m t g e . w it h C e n t r a l T e r m in a l R y . o n C h i c a g o t e r m in a ls
o f M in n . S t . P . A S . S . M . a n d C a n . P a o . s y s t e m lin e s .
T h e y a r e s u b je c t
t o c a ll o n a n y In te r e s t d a t e b e g in n in g N o v
1 1 9 1 8 a s a w h o le a t 1 0 5 a n d
m u s t b e c a l l e d y e a r l y , b e g i n n i n g N o v . 1 1 9 1 6 , a t 1 0 2 >4 b y a s l n k l u g f u n d s u f
f i o l e n t t o r e t i r e I s s u e a t o r b e f o r e m a t u r i t y If n o t p u r c h a s a b l e f o r l e s s .
The
$ 6 ,0 0 0 ,0 0 0 b o n d s s o ld r e p r e s e n t ca s h I n v e s tm e n t e q u a l a t le a s t t o th e ir p a r
v a lu e , t h e r e m a in d e r b e in g r e s e r v e d f o r n o t e x c e e d in g 8 0 % o f c o s t o f e x t e n
s io n s a n d t m n r o v e m e n t s .
V . 93, n . 1463: V . 05. n. 745
E A R N I N G S . — 1 2 m o s ., ( 1 0 1 8 - G r o s s , $ 3 5 ,9 3 0 ,2 9 3 : n e t ( a f t e r $ 6 ,2 3 9 ,6 8 5
J a n . 1 to D e c. 3 1 .
\ 1 9 1 7 -G ro ss ,
3 4 ,5 4 0 ,4 9 1 ;
ta x e s ),
1 1 ,5 7 5 ,6 9 8
R E P O R T . — R e p o r t fo r y e a r e n d in g D o c . 31 l!)1 7 , V . 1 0 6 . p . 2 3 3 5 .
— X I S t. P . A S . S X f . —
-------W i s c o n s i n C e n t r a l ------1917.
1916.
1917.
1916.
A v e r , m i l e s o p e r a t e d ____
3 ,1 6 8
3 ,1 6 8
1 ,1 2 6
1 ,1 2 6
O p e r a t i n g r e v e n u e s ______ $ 2 0 , 7 2 6 , 2 8 0 $ 2 1 , 5 7 6 , 3 2 0 $ 1 3 , 8 1 4 , 2 1 1 $ 1 2 , 8 9 5 , 7 6 5
N e t e a r n i n g s .............................. $ 6 , 6 3 1 , 5 1 0
$ 9 ,5 1 8 ,1 7 5
$ 4 ,9 4 4 ,1 8 7
$ 5 ,7 1 2 ,3 1 7
O t h e r i n c o m e .........................
1 ,5 7 4 ,4 6 8
1 ,1 0 3 ,2 5 2
7 7 ,7 6 3
5 9 .3 3 4
G r o s s i n c o m e .................. $ 8 , 2 0 5 , 9 7 9 $ 1 0 , 6 2 1 , 1 2 7
$ 5 ,0 2 1 ,9 5 0
$ 5 ,7 7 1 ,6 5 1
I n t . o n A V Is. C e n t , l e a s e d
l i n e c e r t i f i c a t e s ................
$ 4 4 7 ,0 7 2
$ 4 4 6 ,8 9 4
. .... .........................................
O th e r fix e d c h g s ., ta x e s
& te r m in a l r e n t a l s . . .
5 .0 1 2 ,4 7 7
4 .9 1 5 .9 3 8
3 ,3 3 9 ,9 4 1
3 ,2 5 9 ,1 8 8
P r e fe r r e d d i v i d e n d s .._ ( 7 % ) 8 8 2 ,2 3 8 ( 7 % ) 8 8 2 ,2 3 8 ( 4 % ) 4 5 0 .6 1 2 ( 4 % ) 4 5 0 ,6 1 2
C o m m o n d iv ld e n d s (7 % )
1 ,7 6 4 ,4 7 6
1 ,7 6 4 ,4 7 6
................
................
B a l a n c e , s u r p l u s . . . ____
$ 9 9 ,7 1 6
$ 2 ,6 1 1 ,8 8 1
$ 1 ,2 3 1 ,3 9 7
$ 2 ,0 6 1 ,8 5 1
S u b s t a n t ia lly th e e n tir e a m o u n t o f p r e f . d lv s . o r t h e W is c o n s in C o n tr a l
a r e p a i d t o t h e “ S o o ” c o m p a n y p r o p e r a n d I n c l u d e d in i t s " o t h o r I n c o m e . ”
P r e s ., E . P e n n in g t o n ; S e c . & T r e a s ., G . W . W e b s te r ; C o m p ., C . W .
G a r d n o r , a ll o f M in n e a p o lis ; F e d e r a l M g r ., G . R . H u n t in g t o n , M in n e a p o lis ;
F e d e r a l T r e a s ., C . F . C le m e n t s .— ( V . 1 0 7 , p . 6 9 7 , 1 2 8 7 ; V . 1 0 8 , p . 2 6 8 .)
★ M I N N E S O T A T R A N S F E R R Y . — U n io n r o a d o w n in g 1 3 .5 4 m ile s , e x
t e n d in g f r o m J u n c tio n w it h C h ic . M llw . A S t . P a u l a t M e r r la m P a r k t o F r id
l e y ( w i t h s t o c k y a r d s , A c . ) : s i d e t r a c k s , 9 5 . 9 3 m i l e s ; t o t a l , '1 0 9 . 4 7 m i l e s .
V . 1 0 4 . p . 1 0 4 5 . S t o c k , $ 6 3 ,0 0 0 , e q u a ll y o w n e d b y C h ic . M llw . A S t . P a u l,
N o r . P a o ., C h ic . S t . P a u l M ln u . A O m a h a . M in n . A S t . L o u is , C h ic . B u r l. A
Q u i n c y , G r e a t N o r t h ., C h ic . G r e a t W e s t , M i n n . S t . P a u l A S a u l t S t e . M a r ie
a n d C h ic . R o c k Isla n d & P a c ific .
In J u ly 191 6 m a d e a n e w 1st M . fo r
$ 3 , 5 0 0 , 0 0 0 , c a l l a b l e a l l o r p a r t a t 1 0 2 V 4, b e g i n n i n g F o b . 1 1 9 2 2 : s o m l - a n n .
s i n k i n g f u n d f r o m 1 9 1 7 , 46 o f 1 % .
F e d e r a l M g r ., A . AY. T r e n h o lm , S t
P a u l, M i n n .— ( V . 1 0 4 , p . 1 0 4 5 ; V . 1 0 7 , p . 6 9 7 .)
★ M I S S I S S I P P I C E N T R A L R R . — O w n s fr o m a p o in t 1 4 m ile s s o u t h o f
H a ttie s b u r g , M is s ., t o N a t c h o z , 164 m ile s .
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J a n 1 9 1 8 , $ 3 ,9 1 0 ,0 0 0 ; p a r . $ 1 0 0 .
D iv id e n d s o r 6 % y e a r y p a id t o O c t . 1
1 9 0 7 ; 191 3 . 1 % : 1914 to F o b . 1 9 1 9 , 2 % (1 % F . A A .).
B o n d s .— 1 st M . b o n d s d a t e d J u ly 1 1 9 0 9 , lim it e d t o S 1 0 .0 0 0 .0 0 0 . a r e I s s u
a b le a t $ 2 5 ,0 0 0 p . m .; t h e y a r c s u b ) , t o c a ll b y lo t a t 1 10 f o r y e a r ly s in k in g
f u n d o f $ 4 9 ,2 0 0 ; a ls o a s a n o n t lr o is s u o a t s a m e p r ic o .
R e t ir e d b y s . f .
t o D e c . 3 1 1 9 1 7 $ 3 6 7 ,5 0 0 .
T h e y a r e g u a r ., p . & L , b y U . S . L u m b e r C o .
V ’ E A r W n g S — 1 2 m o s . , 1 1 9 1 8 ....................... G r o s s , $ 1 , 2 4 6 , 9 9 0 ; n e t , $ 2 7 9 , 9 7 5
J a n . I to D e c. 31.
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9 7 4 .7 5 0 ; n o t , 3 0 8 ,2 9 3
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,
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P r o s ., F . L . P e c k ; S e c ., G . . F . R o y c o : T r e a s ., K . S . P e c k .
F e d . M g r .,
C . M . K it t le , C h ic a g o ; F e d . T r e a s ., C h a r le s E ld e r s , H a t t ie s b u r g , M is s .
O ffic e , H a t t ie s b u r g , M is s .
F i s c a l a g e n t s , C a l l a w a y , F i s h & C o . , 3 7 A V a ll
S t ., N . Y — ( V . 1 0 6 , p . 7 6 , 4 0 2 , 8 0 2 ; V . 1 0 8 , p . 3 7 8 .)
A M IS S IS S IP P I R I V E R & B O N N E T E R R E R Y .— O w n s R iv e r s id e . M o .,
o n M is s is s ip p i R i v e r , t o D o c R u n , M o . , 4 6 .4 4 m il e s , w it h b r a n c h e s , 1 8 .1 0 r n .:
a ls o 4 3 .4 4 m ile s o f I n d u s t r ia l t r a c k s : t o t a l t r a c k s a b o u t 1 0 8 m ile s .
S T O C K .— S t o c k a u t h . a n d o u t s t a n d in g , 3 3 ,0 0 0 ,0 0 0 : p a r $ 1 0 0 .
D iV 3 .
p a id f r o m 1 9 0 0 t o 1 9 1 0 . 6 % : 1 9 1 0 -1 1 . 7 % : '1 1 - 1 2 . 6 % : ’ 1 2 - 1 3 , 5 %
B O N D S .— T h e $ 2 ,5 0 0 ,0 0 0 1st M . g o ld 5 s o f 1 9 1 1 a re s e c u r e d b y a c lo s e d
fir s t m t g e . o n th e p r o p e r t y o w n e d a n d h e r e a fte r a c q u ir e d e x c e p t a b o u t o n e h a l f In v a l u o o f t h e e q u i p m e n t , a n d f u r t h e r
b y d e p o s it
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2 0 -y e a r 5 % n o t e o f th e S t . J o s e p h L e n d C o .
T h e y a re r e d e e m a b le a t 105
a s a w h o le o r b y lo t fo r a s in k in g fu n d o f $ 2 5 ,0 0 0 y e a r ly fo r fir s t 5 y e a r s a n d
$ 5 0 ,0 0 0 a y e a r th e r e a ft e r .
V. 93. o . 589. 871.
R E S U L T S . — F o r c a l . y e a r 1 9 1 7 . g r o s s , $ 9 8 3 , 1 9 0 ( a g a i n s t $ 7 5 7 , 0 9 3 in
1 9 1 6 ): n e t , a f t . t a x e s , $ 2 1 1 ,4 9 4 ; o t h e r i n c o m o , $ 1 2 4 ,1 3 4 ; I n t ., r e n t s , A c . .
$ 1 3 9 ,7 9 4 ; s u r p lu s . $ 1 9 5 ,8 3 4 .
„ „„
P r e s .. C lin t o n I I . C r a n e ; 1 st V . - P . , E . C . S m it h : 2 d V .- P . , F . J . T h o m u r e ;
T r e a s . A S e c .. F . H . D o a r ln g .
N . Y . o ffic e , 61 B r o a d w a y .— (V . 1 0 1 . p .4 8 .)
★ M I S S O U R I & I L L I N O I S B R I D G E & B E L T R R . — H a s b r id g e 2 .1 0 0 fe e t
< o n z a c r o s s t h e M i s s i s s i p p i R i v e r a t A l t o n , 111.: a l s o 2 m i l e s o f jr o a r i.
O w ned
b y C le v . C in e . A S t. L o u is , L o u is v ille A N a s h v ille , C h ic . P e o r ia A S t.
L o u is , B a lt . A O h io , M is s o u r i P a c ., A V a b a sh , C h ic . R o c k I s la n d A P a c .
C h i c . A E a s t . 111., M o . K a n . A T e x . a n d P i t t s . , C i n n . , C h i c . A S t . L o u i s
(P e n n . R R s y s t e m ).
I n e o r p . in 1 9 0 4 a s s u c c e s s o r o f t h o S t . C la i r M a d is o n
A S t . L o u is B e lt R R .
V . 79 , p . 1612. 081: V . 103, p . 2156.
S tock ,
$ 2 ,5 0 0 ,0 0 0 ; o u t s t a n d i n g , $ 1 4 3 ,0 0 0 .
P r e s ., H e n r y M il le r ; S e e . A T r e a s .,
AV. F . B o n d e r , R a i l w a y E x e h a n g o B l d g . , S t . L o u i s . — O . G . B u r n h a m ,
F e d . M g r ., C h ic a g o , il l. ( V . 1 0 3 , p . 2 1 5 6 .)
★ MISSOURI KANSAS & T E X A S R Y . — O p e r a t e s a l i n e w i t h n o r t h
e r n te r m in a ls a t S t . L o u is , K a n s a s C i t y , J u n c t io n C it y a n d H a n n ib a l,
K o ., e x t e n d in g s o u t h e r ly a c r o s s th e O k la h o m a a n d th e T e x a s c o t t o n b e lt
to tid e w a t e r a t G a lv e s t o n , o u t h o G u lf o f M e x ic o , a n d to S a n A n t o n io ,
T e x ., a n d S h r e v e p o r t . L a ., w ith b r a n c h e s
M . K . & T .R g . - - O w n e d ( 1 6 6 3 m .) M i l e s . M . K . A T . o f T e x . - L c a s e s ( 5 0 1 m .) —
304
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18
H a n n ib a l, M o ., t o F ra n k lin J c t 1 0 5 • W i c h i t a F a l l s R y ..............................
174
9 4 O t h o r l i n o s ____________________________
K . C ., M o ., t o P a r s o n s , K a n —
329
2 0 3 * W ic h ita F a lls A N . W . R y - P a r s o n s. K a n ., t o O k la . C i t y . .
1 5 8 O p . J o t n t l v i a . ) — M . K . A T . R y (8 1 m . )
J u n c tio n C it y t o P a r s o n s , K a n .
27
8 6 S t . L o u i s t o M a c h e n s , M o _______
K . C . J u n o , t o P a o l a , K a n ----------K a n s a s C i t y t o P a o l a _____________
43
O k l a h o m a C i t y t o A t o k a ............ 132
O sage J u n o, to V erd a rk , O k la ..
7 9 D o w e y t o B a r tle s v lllo
7
F a l l l s t o G u t h r i e , O k l a __________
2 3 M o r a n t o P l q u a ________ _ - ----------1 5 4 (6 ) A f . K . A T . o f T e x . ( 1 7 6 m d —
O t h e r b r a n c h e s _____________________
W h lte s b o r o to F o rt W o r t h .—
71
M . K . A T . o f T e x .- O w n e d ( 1 ,1 1 8 m .) —
50
R e d R lv .t o H o u s t o n ,v ia F t . W .
3 5 7 H o u s t o n t o G a l v e s t o n ____________
D e n is o n t o H ll ls b ., v ia D a l l a s . .
1 7 2 A u s t in t o S a n M a r c o s (s e e I n t .
& G t . N o r . ; V . 9 4 , p . 4 1 6 ) ___ • 3 0
W h l t e s b o r o t o H e n r i e t t a ________
87
26
G r e e n v i l l e t o S h r e v e p o r t ------------1 5 0 O t h e r l i n o s ____________________________
(♦ S e e th is c o m p a n y . )
-----------O t h e r b r a n c h o s _____________________
353
3 .8 6 9
T o t a l o p e r a t e d D e c , 3 1 1 9 1 7 . . . . . __________ _
___
I n M a y 1 9 1 8 r e c e lv o d F o d o r a l p e r m is s io n t o c o n s t r u c t a 1 0 0 -m iIo c o n
n e c t i o n b o t w o o n W o h l o n , T o x . , o u it s T r i n i t y d i v i s i o n , a n d M a r t o n t h e
I n t e r n a t io n a l A G r o a t N o r t h e r n R y .
Y . 106, p. 2229.
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G A N I Z A T I O N . A c . — U e o r g . In 1 8 9 0 w i t h o u t f o r o c l o s u r o . V . 4 9 . P . 7 1 9 .
t o W i c h i t a F a lls A N o r t h w e s t e r n R y . ( p l a c e d In h a n d s o f r e c o i v o r In
1 9 1 7 ) a n d W i c h it a F a lls A S o u t h e r n I t y . , s o e s e p a r a t e s t a t e m e n t s f o r
a ls o c o m m it t e e s b e lo w .
V . 95, p . 1057.
"A D V A N C E S "
A N D
“ S T A N D A R D
R E T U R N ,”
A c .— S oe p a g e 5 .
R E C E I V E R S H I P .— P r o s . C h a r le s E . S c h a ff w a s o n S o p t . 2 7 19 1 5 a p
p o in t e d r e c e iv e r fo r th o c o m p a n y b y t h o U . S . C ir c u it C o u r t a t S t . L o u is ,
ll a llg a r t e n A C o . a n d J . A W . S e lig m a n A C o . a r e p r e p a r in g a r e o r g a n iz a t io n
p la n . V . 1 0 5 , p . 9 0 9 , 9 9 8 . 1 2 0 9 . V . 1 0 2 , p . 8 8 6 . In D o c . 1 9 1 5 C e n t r a l T r u s t
C o ., m t g o . tr u s te e , file d s u it t o fo r e c lo s e C o u s o l. M t g e . o f 1 9 1 0 (b o n d s a ll
p le d g o d a s c o lla t e r a l) fo r d e fa u lt O c t . 1 1 9 1 5 .
In A p r il 191 6 F a rm e rs ' L o a n
A T r u s t C o . b r o u g h t s u it t o fo r e c lo s e t h e F ir s t A R e f . M t g o .
V . 103. p .
1119.
I n F e b . 1917 s u it w a s b r o u g h t t o fo r e c lo s e t h e $ 2 0 ,0 0 0 ,0 0 0 2 d M t g o .
(S e e b e l o w a n d V . 101 p . 1 9 7 3 ) a n d h i M a r c h 1 9 1 7 t o f o r e c lo s e M . K . A
T . Ity . o f T e x a s 1st M .— V . 1 0 4 , p . 6 6 4 , 1 0 4 5 .
I n J u n o 1 9 1 8 $ 2 , 2 4 1 , 0 0 0 5 % r e c e i v e r 's c e r t i f i c a t e s w e r e o u t s t a n d i n g o n
M . K . A T . R y . o f T e x a s , r a n k in g a h o a d o f it s $ 4 ,5 0 5 ,0 0 0 f ir s t m t g o . b o n d s
o f 1 8 9 2 ; $ 3 ,0 0 0 ,0 0 0 a u th .
T h e s o c e r tific a te s w o r e e x te n d e d 6 m o n th s a t
m a tu r ity A u g . 15 1918.
V . 107, p . 697; V . 104. p . 764, 23 4 3 . 2452.
R e p o r t s o f e x p o r t s a s t o n e o d s o f s y s t e m a n d p r o b a b le r e s u lts o f I m p r o v e
m e n t a d d itio n s . see V . 1 0 3 , p . 1 9 7 7 ; V . 1 0 4 , p . 1 5 9 2 , 6 6 4 , 6 5 6 ; V . 10 5 ,
998, 1101.
A p p lic a t io n fo r a c o -r e c o lv e r w a s d e n te d in O c t . 1 9 1 7 .
105. p . 1617. 1104. 998. 909.
,
D e fa u lt— I n te r e s t P a y m e n ts .— O n D e c . 3 1 1 9 1 7 t h o ln t o r o s t m a t u r e d s in c e
S e p t . 2 7 1 9 1 5 r e m a in in g u n p a id a g g r e g a te d $ 8 ,0 3 5 ,3 8 6 : s in k in g fu n d p a y
m e n t s in d e f a u l t , $ 1 . 1 1 0 , 0 0 4 .
V . 107, p . 4 9 5
T h e e a r lie s t c o u p o n u n p a id
o n e a c h Iss u e in d e f a u l t , a n d t h o d a t o o f p a y m o n t o f d e f e r r e d i n t o r e s t , m a y
b e le a r n e d fr o m ta b le a t h e a d o f p a g e .
(V . 1 0 3 , p . 1 7 9 5 : V . 1 0 4 , p . 1 7 0 2 :
V . 1 0 5 , p . 7 1 0 . 1 8 0 2 ).
N o t o $ 4 2 5 ,0 0 0 V . 1 0 5 . p . 1 4 2 0 .
a p e .,
i9i9.| *g0
° ;;;.T nt
APrlvate
RAILWAY STOCKS AND BONDS
RAIL.noA D COMPANIES
IFor abbreviations, A c., see notes on first page]
M iles Date
Road Bonds
Par
Value
Amount
Outstanding
Rale
%
When
Payable
Centro,.
81
Last Dividend Places Where Interest and
and Maturity
Dividends are Payable
M i s s o u r i K a n s a s & T e x a s ( C oncluded ) —
Kansas City * Faoltlo 1st M gold assumed -_Fr.xo
M K & Okla 1st M $.'>,468,001) g assumed — Ce.xo
TexasAOlda 1st M $2,3*7,000 gold assumed.Ce.xo
F irst* lief mtge $40,000,000 gold (see text)__ F.x
Qeri M $20,000,000 gold sink fund red at par.N.xo*
3 W 0 A Imp 1st M assumed sink fund call 125_Fa
Consol mortgage $125,000,000 gold authorized__ x
Two-year seour g notes ext, In 1915 red 101_Ce.xo
Equlpt trust notesgold $95,000 due s-a call par.Cox
do
do
Series A $34,000 due s - a ------------ CP
Receiver’s equipment trusts Dec 31 1917_________
Securities o f A llied Com panies —
130 1890
227 1902
117 1903
1901
1906
__ 1889
1910
1913
1913
—
1914
S 1,000 S 3.500.000
4g
1,000 5.468.000
5 ff
1,000
2,347.000
5e
100 * 0 v9.992.000
47
1.000 xl0.421.000
•ifi 2
1.000
743,000
6.
See text. See text
1,000 19.000.000
0g
1.000
855.000
5g
374.000
6
1.000
802,720 Various
Dallas A Wano 1st M $20,000 p m ggu p AI.Ce.xxo*
66 1890
1.000
1.340.000
5g
M K & T of Tex Receivers' certtf $3,000,000 auth_
1917 1.000 &c
2,241.000
5
M K A T of Tex 1st M $20,00 0p m — Ce.xxo’ lGu.p.
1,000 4.505,000
225 1892
5 g
Boonv Bridge IstM e s fd V.73,p.494-Ce.zo*/A 1..
1901
1 .000
935.000
4 0
Katy Off Bldg Go 1st M ------------------------------ c*«fcr*
1912
600 &c
200,000
51i g
1,000 2,000,000 4 St 5 g
Tex OentlstMS2.000.000g redl 10($150,0001s) F.xc*
309 1893
Wichita Falls & N W 1st M g red 105___ FC.xc&r
1,000 2,098,000
161 1909
5g
1 ,000
Pan Handle DIv 1st coll Hen M gold s f_.F C .xc
57 1910
838,000
5 g
1.000 x3,000.000
First* Rof M gold red 105____________ Usm.xc*
378 1911
5 g
Wichita Falls & So 1st M $780,000 g gu s f__FC.xc*
1,000
52 1908
729,000
5 g
Beau & Ot No 1st M g $17,500 p m red 10214____Of
1,000
49 1909
883,000
5g
San Antonio Belt St Term Ry 1st M notes g text__c
1916
1,000
1.750,000
6g
Mo & N Ark RR — Roc ctfs $2,500,000 red par.............
250 &c
1,849.000
1915
0
1911
Mo Okla & (lu lf RR — 1st M $20,000,000 (text).SSt
1,000 6.704.100
5
Mo Okla & G u lf Ry— Receiver’s certlflc's $1,750,000
1915
1,720.000
1.000
5 g
First M $10,000,000 gold.................................SSt.c*
350 1904
100 Ac
7,007,000
5 g
Second M gold___________________________________
1,467,000
5g
Mo Okla & Gulf Ry of Tex 1st M $1,000,000 .SSt
3 1911
350,000
5
v-x There aro also pledged under Consol. Mtges.: Of v$448 .000; 0 f"x"$o!83 0,0000.
x There also $584,000 hoici In treasury or pledged as c ollater al.
PROTECTIVE COM M ITTEES (soe V. 101. p. 1903. 1189. 1272):
Two-Year Secured Gold Notes (Extended and Uneitended).— Willard V.
King, Chairman: O. A. Austin. Sec., 60 Broadway. N. Y. City; Central
Trust Co., depositary. Of the $19,000,000 notes issued, $9,176,000 had
been deposited. V. 101. p. 1093. 1553, 1973; V. 102, p. 1250, 1430.
First M . 4s due June 1 1990.— William Church Osborn, Chairman; Paul
G. Tomlinson, Secy.; U. S. Trust C o., N. Y ., depositary
V. 102, p. 67Juno 1918 coupon was paid Doc. 2 1918: V. 107. p. 2188.
Dutch Committee for lsf 4s.— Pres., B. W. Vau Vloten. V. 102, p. 154.
Second Mtge. Bonds.— K. G. Merrill, Pros. Union Trust C o.. Chairman
G. K. B. Wade, Sec., 80 Broadway. V. 101. p. 1189. 2145; V. 102. p. 522.
2077. 2254; V. 103, p. 239, 579. $4,978,000 deposited June 1917.
Dutch Committee.— J. II. Wysman, Amsterdam, President. V .102,p .154
First Extension 5s of 1894. John W. Flatten, Chairman; Ohauncoy H
Murphey, 55 Cedar St.. N. Y ., Sec. V. 101, p. 1272; V. 102, p. 345.
St. Louis Division, First Mtge. Ref. Gold 4s.— Edwin S. Marston, Pros
Farmers ’Ln. & Tr. C o., Chairman; Augustus V. tleely, 22 William St.
N. Y .f Secretary. V. 102, p. 67.
First A Ref. M. 4% Bonds.— Alexander J. Hemphill, Chairman; W. O.
Oox, VIco-Frea. of Guaranty Trust C o., as Sec. V. 103. d . 1508; V. 101.
p. 1093, 1189: V. 102, p. 522. $0,386,300 deposited June 1917.
General Mtge. 444s.— Otto T . Banuard, Chairman: Herbert W. Morse.
Sec., 20 Broad St., N. Y.; N. Y. Tr. C o., depositary. V. 101, p. 1093:
V. 102. p. 253, 1430, 1626, 1989. $5,185,000 deposited Feb. 1917.
Southwestern Coal & Impt. lsf 6 s. due 1929.— Chairman, James B. Col
gate; Sec., Sherwood E. Hall, both of N. Y. Depositary, Farmers’ Loan
& Trust C o., New York.
Pref. Stock and Common Slock.— Alvin W. Krcch, Chairman; J. Y. Rob
bins Jr., Sec. Equitable Trust C o., depositary. V. 101, p. 1272.
Missouri Kansas A Eastern Ry. lsf M . 5% Bonds.—Chairman, John W
Stodman; Sec., George E. Warren, 60 Broadway, N. Y. Depositaries
Columbia Trust Co., N. Y.; Conn. Tr. St Safe Dep. Co., Hartford. Ma
jority deposited. V. 102. p. 8 8 6 : V. 103. p. 1210, 2238; V. 104. p. 2010.
Kansas City & Pacific lsf M . 4s.— Chairman, Edward O. Delaflold;
Sec., J. C. Traphagon, 46 Wall St., N. Y. Depositary, Franklin Trust
C o., N. Y. Over 70% deposited. V. t02. p. 1163, 1346; V. 103. p. 844:
V. 104, p. 250; V. 105, p. 389; V. 108, p. 579.
Sherman Shreveport & Southern Ry. 1st M . 5s.— R. Walter Lolgh, Chair
man; Joseph S. Dale, 52 William St., Sec. Depositary, Columbia Trust
O o „ N. Y. V. 101. p. 1274; V. 102. p. 713.
Af. K. A Oklahoma lsf M . 5s.— John W. Flatten, Chairman; U. S. Mtge.
& Trust C o., N. Y., depositary. V. 102, p. 800. 1346; V. 103, p. 60, 1087:
V. 104, p. 1702. To Juno 17 1917, $2,849,000 had been deposited.
Boonville Bridge lsf Af. 4s.— Chairman, Robert Struthers Jr.; Sec.,
Emerson W. Judd, 37 Wall St. Depositary, Metropolitan Trust Co.,
N. Y. V. 102, p. 1625. Majority deposited. V. 103, p. 320.
Dallas A Waco Ry. lsf Af. 5s.— 'Thoodore H. Banks. Chairman: Martin
8 . Watts, Sec’y, 115 B’way. N. Y.
V. 104, p. 559; V. 105, p. 1898.
Af. K. A T. Ry. of Texas lsf Af. 5% Bonds.—Chairman, Jules S. Bache;
depositary. Empire Trust C o., N. Y.; Soc., Edward F. Goetz, 42 Broad
way. N. Y . V. 102, p. 1000. 1540: V 103, p. 61.844.
Texas A Oklahoma Ry. lsf Af. 5s.— F. N. B. Close, Chairman; Perry B.
Bogue. 16 Wall St., Sec.; Bankers Trust Co., depositary. V. 101, p. 1189
V. 102. p. 154. 801. 887.
Wichita Falls A N. W. 1st 5s, 1939.—Chairman, Oscar .L. Gubelmau;
Secretary, F. W. Seymour, 120 Broadway. Depositary, Bankers’ Tr. Co.
N. Y., with Wisconsin Trust C o., Milwaukee, as agent. V. 105, p. 717.
Wichita Falls A N. W. (Panhandle Division) lsf Lien Coll. Trust 5s, due
Jan. 1 1925- Chairman, Robert M . Lansing; See., John It. Gray, both of
Chicago. Depositary Nat. City Bank of Chicago.
Wichita Falls A N . W. Ry. First A Ref. M . 5s.— Elisha Walker, Chair
man; G. N. Lindsay, Sec., 25 Broad St., N. Y. Depositary, U. S. Mtge.
St Trust Co., N. Y. V. 104. p. 73, 2453: V. 105, p. 73. Issued to Dec. 31
1917, $3,001,000. of which $519,000 Is owned by M . K. & T . Ry. and $82.
0 0 0 Is pledged for loan.
Wichita Falls A Southern Ry lsf Af. 5s — (a) Robert Elliott, Milwaukee;
Wm. M. Buchanan, BetiJ. P. Taylor (Sec.). Depositary, First Trust &
Savings Bank, Chicago. V. 102, p. 977. (6) Truman H. Newberry
Detroit, Chairman; Jarnos R. Coulter, Sec.. 804 Union Trust Bldg., Dotrolt
depositary. Security Trust C o., Detroit.
LAND GR A N T.— The U. S. Supremo Court on Nov 9 1914 decided
against the company the suit to recover the value of the land grant in Okla
homa, 3,110,100 acres, subject to Indian title.
DIVIDEN DS.— On prof.. 1900 to Nov. 1913, 4% yrly.; none since.
BONDS.— M. K. A T. 1st and 2d mtges. ot 1890 (abstracts In V. 51
p. 495) cover, besides right to land grant. 1,599 miles of road. Including line
Hannibal, Mo., to Boggy Tank (except 71 miles trackage). sundry branches
and Sherman Shreveport A Southern, but see below.
Mo. Kun. A Eastern bonds (assumed). V. 63, p. 30; V. 72, p. 1034
V. 75, p. 608.
Sherman Shreveport A Southern intge., Ilmitod to $3,089,000, all Issued of
which $2,000,000 pledged under M . 1C.T. S t mortgages. Bonds wore as
sumed on consolidation ln 1901. V. 72. p. 1034. 1115.
The Missouri Kansas A Oklahoma and Texas A Oklahoma bonds. Issued
at $20,000 per mile, guaranteed, have been assumed. V. 74. p. 1038
V. 75. p. 185. 733: V.,77. p . 252; V 78. p. 48; V. 79. p. 968; V. 102. p. 800!
The First and Refunding 4s o f 1904 are a socond lien on 507 miles of
road and on the first mtge. bonds o f Donison S t Washita Valley Ry., 4 7
miles, and a first lien on terminals and equipment o f estimated value of
$24,380,000. V. 79. d . 968, 1281, 1332; V. 80. p. 222, 712; V. 81. p. 013
V. 82, p. 987, 1497: V. 80. p . 1101; V. 8 8 . p. 158. 295.
Gen. M. 4>$s. V. 82. p. 692; V. 8-1. p. 1551: V. 85. p. 340, 654; V. 8 8
P. 101, 158.
Consolidated mortgage ot 1910 Is limited to $125,000,000: $60,000,000 re
served primarily for refunding and the remainder are Issuablo only under
restrictions. The bonds were on Dec. 31 1916 secured by the pledge of
$13,073,000 bonds and $0,524,600 stocks. Including $4,770,000 M. *\. &T.
Term. Co. of St. Louis 1st 5s. $0,830,000 M. K. A T. gen. 4Hs. $1,310,000
Texas Central pref. and $2,072,300 common stock, and by a lien on ‘ he
property of the M . K. St T . subject to existing liens. On Doc. 31 1910
F A A Aug 11990
M A N May 1 1942
M A S Sept 1 1943
M A S Sept 1 2004
r do J Jan 1 1936
J do J July 1 1929
A A O Apr 1 1940
M do N May 1 1910
J
D Juno'19-June’23
J & J July'19-July ’24
Monthly
Augl918 pdJan31 1919
M ay '18 Int pd Oct ’ 18
March '16 lnt unpaid
March ’ 10 Int unpaid
Jan 1 1916 lnt unpaid
Jan 1 1916 lnt unpaid
M A
F&A
M A
M A
M ay '18 Int pd Oct ’18
National City Bank, N Y
Sept 1916 lnt unpaid
M ay’ 18 int paid Oct ’ 18
Juno 1917 lnt. paid
61 Broadway. N Y
Jan 1918 pd in Mch
July 1917 int paid Jan’ 18
Jan 1917 Int last paid
July T7 Int pd Dec 20 T7
01 Bway, N Y, Jan'18 p ’d
Chase Nat Bank, N Y
Merc Trust Co, St L. M o
Nov 1913 coup not paid
Fidelity Tr Co, Kan City
Nov 1913 coup not paid
do
do
do
do
J
St
A
,r
&
&
de
&
&
&
J
j
J
J
A
M
M
F
M
M
St
St
N Nov 1 1940
15 Feb 15 1919
S Sept 1 1942
N Nov 11951
D Dec 1 1932
O Apr 1 1923
J Jan 1 1939
J Jan 1 1925
J
J
J
O
N
N Nov 1 1901
A 20 Indefinite
A
&
N Nov 1 1944
N
Nov 1915 lnt not paid
June '18 prin&lnt paid
July 1918 prln & int paid
$30.292.000of the Consolidated bonds had been Issued, of which $25,825,000
were pledged to secure the 519.000.000 two-year notes due as extended
May l 1910. and 54,407.000 were pledged as security for bills payable.
As to foreclosure suit, see above. V. 92. p. 725. 795; V. 90, p. 1491; V.
91. p. 336; V. 92. p. 1179, 1375. 1500. The $19,000,000 Secured gold
notes dated May 1 1913 were extended May 1 1915 for one year at 0 % .
V. 96. p . 1229: V. 100. p. 1349. 1150; V. lO t.p . 846: V. 104. p. 1045.
M K. A T. ofTex. mtge. $10,000,000. V .50 .p .6 O t; V. 102. p. 1000, 1020.
The Southwestern Coal A Improvement Co.'s bonds are guaranteed. Mort
gage ($1,000,000) covers coal lands In Indian Territory; the company also
owns 2,350 acres additional. Den. St Wash. Ry., 4.7 miles, mines. &c.
In May 1913 sold $1.900.000 5% equip, notes. V. 90. p. 1489. In Aug.
1915 purchased rolling stock for $895,475, of which $50,000 paid in cash and
remainder due In yearly rental payments. V 101. o. 694.
Guaranty San Antonio Belt & Terminal R y., see that company below
and V. 108, p. 1061.
E A R N I N G S .— 12 m o s .,/1 9 1 8 ____ G r o ss ,
J an . 1 t o D e c . 3 1 .
\1917____ G r o ss ,
$ 5 3 ,0 7 0 ,6 6 6 ; n e t,
4 2 ,2 9 0 ,8 7 7 ; n e t,
$ 7 ,2 3 1 ,1 5 8
1 0,1 25 ,1 7 2
ANNUAL REPORT.— Report for 1917 ln V. 107, p. 495.
----------- Years ending Dec. 31-----------June 30
.
„
1917.
1916.
1915.
1914.
Average miles....................
3 ,8 6 6
3,865
3,865
3,82
Gross earnings................ .$43,344,150$36,733,682 $32,453,462 $31,917,924
Operating oxp. & taxes. 35,129,225 30,986,360 24,761,185 24,726.353
Operating Income____$8,214,925
Not tneomo.....................$8,035,085
Interest on bonds, &c._ $6,655,512
______
Rentals, &c___________
$5,747,322
S6,143,711
$6,577,652
700,693
$7,692,277
87,921,966
$6,558,058
849,026
$7,191,571
$7,408,849
$6,319,872
549,750
Balance, sur. or def.sr.$1.379.573df.$1134,634 sr.$514.881 sr.$539,227
Pros. & Receiver, C. E. Schaff, St. Louis; Sec., J. W. Reid, Parsons,
Kan.; Troas., E. W. Peabody, St. Louis; General Mgr. under U. S. Govt,
of the M . If. A T . Ry. of Texas, W. A. Webb, Xallas; Fed. Mgr. (incl.
M . K. & T . Ry. of Texas, Charles N. Whitshead, St. Louis, M o.
Directors.— W. W. Brown. Parsons. Kan.; Ueo. W. Simmons, Edw. A.
Faust and Charles E. Schaff. St. Louis; Frank Trumbull (Chairman),
Harry S Black, Stuyvesant Fish, Walter S. Crandell. Lewis B. Franklin,
A. J. Miller, Horace E. Andrews. F. H. Davis, E. R. Tinker Jr., N. Y.;
Frank F. Frazier, Chicago; Edward S. Rea. Coffeyvtlle, Kan.; David Mulvane, Topeka, Kan. Office, 61 Broadway, N. Y .— (V. 108, p. 1061, 1275.)
. ★ MISSOUR! & NORTH ARKANSAS RR.— Joplin, Mo.. to Helena, Ark.
365.24 miles, of which Neosho. Mo., to Joplin, 19 miles, and Sellgman, M o,
to Wayne. 9 mllek. are trackage. V. 86. p. 168: V. 82 p. 569,1269: V.83.P.39).
"AD VA N C E S’ ’ AND “ STANDARD R E TU R N ,” &c.— See page 5.
Contract with U. S. Govt, was signed in Dec. 1918; annual compensation,
$174,376. V. 107, p. 2290; V. 108! P- 841.
Festus J. Wade of St. Louis Is now sole receiver. V. 94. p. 983.
In April 1915 $2,500,000 6% 3-ytar receiver’s certfs. secured by a first
lien on the property were authorized, of which $2,002,750 were sold to retire
the outstanding |1,472.000 ccrtfs. due May 1 and for lmpt8.,&c.V.100,p.2010
Stock authorized, $25,000 per mile. Entire stock and bonus are
pledged to secure $0,000,000 5-year 5% gold notes of the Allegheny
Improvement Co. V. 85. p. 99. In Fob. 1917 suit was brought to fore
close of tho notes. V. 104, p. 06-4. Outstanding Feb. 1918. $8,340,000
each of stocks and bonds. Car trusts outstanding Dec. 31 1917. $13,294.
EARNINGS.— 12 m os.,f 1918-Gross, SI.404.131; net, bef. def.$16,615
Jan. 1 to Dec. 31.
11917.Gross, 1,417,969; taxes, sur. 295,659
Net ufltr Other
Interest,
Balance,
E A R N IN G S —
Gross
Tares.
Income. Rents. Ac. Surplus.
Years ending— Earnings.
$88,004
1917......................$1,417,969 $227,895 $150,824 $290,715
217.420
96,404 262.696
51.128
1910..................... 1,310,935
Chairman, D. R. Francis; Pres., John Scullln; Federal M gr., J. A. Edson
(V. 107, p. 1570): Gen. Mgr. under U. S. Govt., C. E. Jonnston. Kansas
City, M o — (V. 107, p. 1385, 1579, 2290; V. 108, p. 378, 480.)
* MISSOURI OKLAHOMA & dULF RY.— Owns and operates 205 3
uillcs of main track and 41.3 miles of sidings, extending from Wagoner to
Red River, via Muskogee and Henryetta; Dewar to end of track. 9 in. and
Junction to Lowerroe. 2.4 in.; Junction to Bromide, 4 m.; Mo. Okla. &
Gulf RR. (V. 96. p. 1022), Wagoner, Okla., to Baxter, Kan.. 93.6 miles,
completed Doc. 1912 and projected to Oklahoma City, Dallas and Fort
Worth. V. 93. p 469; V. 97. p. 887. In Aug. 1915 tho Mo. Ok St Gulf
Ry. of Texas arranged tor trackage from Denison, Tex., to Dallas and Fort
Worth, and now owns and operates 9.1 miles Red River to Denison.
On Dec. 11 1913 receivers were appointed for the M o. Ok. & Gulf R y.,
M. O. St G. RR. of Okla. and M . O. & G. RR. of Kansas. Alexander New
of Kansas City and Henry O. Ferris ot Muskogee. Okla., are now receivers.
V. 100, p. 1257. All Nov 1913 coupons were defaulted. V. 97. p. 1823 ;
V. 98. p. 236. In Feb. 1915 authority was given to Issue $1,750,000 prior
lien receiver’s certificates for Improvements, additional engines, re-balfastIng and better terminals, of which $1,500,000 Is outstanding. The certlflrates cover both railway and railroad. V 100. p. 734, 901: V. 99. p. 1366.
In Jan. 1919 placed under Federal control.
“ ADVANCES” A N D “ STANDARD R E TU R N ,” & c — See page 5.
BONDS.— Rallwav 5a or 1904. $25,000 per mile. V. 86. p. 1043; In
July 1912 $7,007,000 had been sold. V. 88. p. 686: V. 90, p. 977. 1171,
1303. M o. Okla. St Gulf RR. 5s of 1911 were offered In Franco In 1912.
V. 97, p. 444, 487, 698. Equipment notea Feb. 1 1917, Railway Co..
5589.5R0: Railroad C o.. $168,282.
EARNINGS.— 12 m os.,/1918............ -Gross, $1,780,546; def., $267,254
Jan. 1 to Doc. 31.
\1917............ .Gross, 1,906,916; net, 213,100
ANNUAL EARNINGS.— Years ending Dec. 31 1917 and June 30 1910:
Years
Gross
Net, after
Other
Interest, Balance,
Ending—
Earnings.
Taxes.
Income.
Rents, Ac. Deficit.
Dec. 311917____$1,935,962 $254,523 der.$10.870 S296.017 $52,365
June 30 1910......... 1.416,301 loss88,726
cr.33.237
671.567 727.050
Fed. M gr., O. N. Whitehead, St. Louis, M o.— (V. 108, p. 378.)
R A IL W A Y STOCKS A N D BONDS
[V o l .
107.
A ril.. 1919.] * B r “
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
tFor abbreviations, &c., see notes on first page]
Miles Date
Road Bonds
Par
Value
Amount
Outstanding
Rate
%
When
Payable
APrlvate
Control.
83
Last Dividend Places Where Interest and
and Maturity
Dividends are Payable
Missouri P acific RR—
Common stock (auth $200,000,000)_________
$100 $82,839,500
Prof stock 5% convert cum 1918 call 107 y i________
10Q a71.800.100
First & Rof Mtgo gold___________________ G.c*&r*
Series A callablo on or after 1921 107 Vi Sc ln t_y 6,793 1917
500 &c a24.238.000
F
A Feb 1 1965
5g
C o’s office,120 Bway.NY
Series B callable (all) par Sc lnt________________y 0.791: 1917
500 &c 13,641,000
F
5g
A Jan 1 1923
do
do
Sorios O callablo (all) par & lnt________________y 0,79.-; 1917
500 &c
F Sc A Aug 11926
9,044.000
5g
do
do
Gen M $53,000,000 g call par aft 1920__ B«yc*&r* 0,793 1917
500 &c a51,350.000
M
4g
& S Mar 1 1975
do
do
(1) Missouri Pacific Railwag Securities Outstanding
Pacific RR of Missouri 1st M ext In 1887 gold. Bazz
1,000 6.996,000
F Sc A Aug 11938
285 1868
4g
do
do
Second mtge ext in 1891 in gold St L to K O.xc*
1.00C
1871
2,573.000
5 g J & J July 1 1938
do
do
First mtgo St Louis real estate ext in 1892 gold
500 Scc
1872
800,000
5 g M «& N M a y l 1938
do
do
First mtge Oaron Br g gu p Sc I (end) ext 1893..
500 See
13 1873
237,500
4H g A & O Oct 1 1938
do
do
Third M ext 1896 rod 105 (V 83, p 492,1348) C o 1,000
1876
3,828,000
4
M Sr. N July 1 1938
do
do
Missouri Pac coasol mtge gold_______________zc*
1.000
755 1880
M Sc N Nov 1 1920
6.817,000
0g
C o’s office,120 Bway.NY
Equip notos series 2 duo $147,000 s-a red p a r .-C e .
1,000
1911
M Jr N M ay’ 19-Nov ’21 Central Trust Co, N Y
882,000
5
Equip notos series 3 gold $14,000 s-a______ ______
1,000
J Sc D Juno’ 19-Doc '24 Girard Trust Co, Phila
1914
168,000
5g
Contral Br Un Pac 1st M g (in default)_____ Un.x
100 1898
1,000
1,628,000
4 g J Sc D
In default
Verdigris Val Indep Sc W 1st M g g u a r _____
z
84 1886
1,000
M & S
806,000
5g
C o’s office.120 Bway.NY
(2) Former St. Louis Iron Ml. & So., A c.—
Gen Cons 3c L’d Gr’t Mtge ($15,000,000) g Ba.zc* 1,498 ’81-’87
1,000 43,090,000
A & o Apr 11931
5g
do
do
Unifying & Refund M gold $40,000,000-Mp.xc*&r
1,000 30,551.000
611 1899
4g J & J
do
do
River Sc Gulf Divs 1st M $50,000,000 g.Ba.xc*&r*
772 191X1 1.000&C 34,548,000
M Sc N M ay 1 1933
4g
Co office, 120 B’way.NY
Pino Bluff West IstM assumed rod 10 years I05xxx
1,000
44 1903
A & O ~
880,000
5g
do
do
1 1923
Llttlo Rock Sc Hot Sp W 1st M g. assumed.. SStxxx
1,000
57 1899
1.140,000
4g J & J
St Louis Union Tr Co
Iron Mt car trusts sor V, due $44,000 June 1919xxx
1,000
1913
179,000
5
Q—AI
Townsend, Whelen, Phil a
do
Sor 2 duo $145,000 s-a red par___ Ce.x
1,000
1911
M <fc N
870,000
5
Central Trust Co, N Y
do
Ser 3 due $25,000 somi-ann__________ zz
1.000
M Sc S
1914
247,000
5
Phila Trust Co
do
Sor 4 $20,000 due semi-annually_____ zz
1,000
1914
J Sc D
240,000
5
Girard Trust Co, Phila
Am Refrig Transit equip notos gold not guar— Sea "Indu strial Cos” and V 9 2 ,p 883; V 95, p 1747.
Mobile is Birmingham RR— Fret stuok ($900.000)____
100
900,000
J Sc ,1
4
JPMorgan&Co.NY.&Lon
Prior lien gold $600,000.............................. ...Ce.c
150 1895 200,1000
600.000
J & J
5£
J P Morgan & Co, N Y
First mortgage $1.200.000...............................Ba.o
150 1895 200, 1000
1,200.000
4 (I & J
do
do
Mobile & Ohio—Stock_____________________________
100 6,016300 4 In 1918 Yearly
Washington, D C
First M Mobile to Columbus (principal gold)..F .zo*
472 1879
500 &o 7,000, OOO
J & D
6
Farmers L & Tr Co, N Y
First M exten Columbus to Cairo & branch g._F.zc
525 1883
1,000
1,000.000
3s
do
do
Q--Jan
General mtge for $10,500,000 (now gold) s t.F.zo*
525 1888
600 &o 9.470.000
4g M & S
Hanover Nat Bank, N Y
Montgom Dlv 1st M $ 4.000,000 g(V06.p 1045>Cc.zc*
189 1897
1.000
F & A
4,000.OX)
5g
do
do
Mobile & B Sh 1st M $200,000 assumed gold.F.zo*
500 <Scc
46 1899
5 s:
200.000
M & N
First Nat Bk. Mobile. Ala
1st Term Sc Coll Tr M $1,200,000g due $60,000 s-a.x
-I 1911
210.000
F4A
5g
Guaranty Trust Co. N Y
1
a Includes amount reserved under plan to retire cer tain of fhn old bonds
See text
★ MISSOURI PACIFIC R R .— (Seo AIup.)— Operates an Important sys
tern extending from St. Louis, M o., to Omaha, N eb., and Pueblo, C olo.’
via Kansas City, M o., and also to Texarkana. Ark., Lako Charles, La.
and Johnston City. 111. Owns about 6,786 miles of first main track, viz.:
Missouri_____ 1,448 m.JColorado-------------- 152 in. ILoulsiana______ 556 m.
Kansas______ 2 , 2 1 2 in. [Illinois__________194 m. [Oklahoma______ 162 m.
Nebraska____ 348 m. IArkansas______ 1,714 m. 1
Also has leased linos and traclcago rights aggregating 513 miles, making
ho total miles of main track Dec. 31 1917, 7,301. The trackago includes
193 miles of Tox. Pac. Ity. In Louisiana affording ontranco to New Orloans.
ORGANIZATION.— Incorp. In Missouri March 5 1917 and about June 1
succeeded to the properties of M o. Pac. R y . and its subsidiary, the St.Louis
Iron M t.. foreclosed per plan in V. 101, p. 130; V. 103, p. 406, 493, 579;
V. 104, p. 863.1899. (As to K. C. Sc N. W. R R .,see V. 104, p. 1591,2010.)
The Missouri Pacific RR. C o., which In Juno 1917 owned about 30% of
the stock o f the Denver Sc Rio Grande R R ., arranged In Oct. 1917 for closer
relations with that company. As to receivership in 1918, soo that company.
V. 105, p. 1120, 1618. Also owned Dec. 31 1917 $0,555,000 stock, $23,
703,000 2d Mtgo. bonds and $2,988,000 overdue notos of the Texas &
Pacific Ity
The 2nd Mtgo. bonds aro pledged as part security for the
Unifying Sc Rof. Mtgo. 4s of the former St. L. Iron Mtn. Sc South Ity Co
Official statement as to properties, securities, &c. V. 105, p. 498, *1802.
"A D V A N C E S” AND "ST A N D A R D R E TU R N ,” &c.— See page 5.
OLD BONDS, ALL ISSUES.— 3ee issue o f June 26 1915. Remnant*
of four old bond Issues Included in plan of reorganization are still being ex
changed under terms of plan, viz.. Consol. 1st 6s and Loxlmrton Olv
★ MOBILE & BIRMINGHAM RR.— (See Map Southern B y.)— Mobile to
Marlon Junction, Ala., with branches, 150 miles. Leased to Southern Ry,
from March 1 1899 for 99 years, the latter agreeing to meet the Interest on
bonds and to guarantee a dividend on the $900,000 pref. stock of 1% for
flrat year, 2% for second year, 3% for third year and 4% for fourth year
and thereafter. Of the $900,000 common stock. $880,400 Is owued by
Southern R y., and voting power on pref. assigned to Southern Ry. during
lease. V. 68. p. 429, 1134; V. 69. p. 391: V, 71. p. 1013.— (V. 72. p. 137. >
★ MOBILE & OHIO R R .------ Owns from Mobile, Ala., to East Cairo,
l^y-. 489 m.; Cairo to East St. Louis. 152 m.. with branch to
MilLstadt. 7 m.; Montgomery Division, Artcssia, Miss., to M ont
gomery, Ala., 181.18 m.; Mobile Sc Bay Shore branch, 38 m.; other branches
o2 miles; total owned, 919 miles; Warrior Southern Ry. (all stock and bonds
owned), 14 m.; trackago, 189 miles (notably So. Ry. to Birmingham,
Ala., 42 m.; Northern Ala. R y., 50 m ,, and III. Cent. R R ., 91 in.); operated
under agreement Okolona to Calhoun City, Miss., 37.82 miles; total
operated, Dec. 31 1917, 1.159 miles.
“ ADVANCES” AND "ST A N D A R D R E T U R N ,” & c — See page 5.
STOCK.— Stock authorized, $10,000,000; outstanding, $6,016,800; par
$100. The voting power on $4,984,200 of the stock is exercised by the Gen
eral Mortgage bondholders by virtue of deposit of old debentures of 1874
D1 VS.(Since 1910-1II ’ 11-T2. ’ 12-’ 13. T 3-’ 14. ,14-,15. ’ 15-T6. ’ 16-’ 17.18.
June 3Q years________ [
4
4
4
4
4
4
4
The Southern Railway has acquired $8,346,000 of the $9,470,000
xeneral 4s and $5,670,200 of the $0,016,800 stook, issuing, $ for $, its col
lateral trust 4% gold bonds in exohange for the M. & O. general 4s, secured
by a pledge o f the latter and had also issued stock trust certificates for stock,
being payable (A. & O.) at 4% in perpetuity. V. 106, p. 2758.
E W tegSvisas t
^ ,h° um“ <-«• ^ dividends
BONDS.— General mortgage of 1888 abstract, V. 47, p. 83. V. 00. p. 907.
The St. Louis Dlv. 5% gold bonds (limited to $3,000,000), dated Aug. 1
1913, are secured by a mortgage on the former St. Louis & Cairo R R .. sub
Convertible afc
i op?*oa
par into common stock at par,
ject to St. Louis Sc Cairo 1st M . 4s, due Jan. 1931. the latter of which have
subject to adjustment of dividends. Callable by company as an entire been assumed. V. 96. p. 554, 1022, 1365, 1773, 1840. and V. 70. p. 532.
issuo at 10744% and dlv. .su b ject to conversion prlvllogo. Full voting
Stockholders In Feb. 1918 authorized tho creation of a mortgage to secure
power. Authorized, $100,000,000. Presently issuahlo not over $71 8 0 0 100
not exceeding $50,000,000 bonds, whenever tho board of directors may deem
Including $205,000 reserved in Sept. 1918 J £ t l r e $ rS?V whenprlSontSd! It
advlsablo.
V. 106, p. 929: V. 104, p. 452; V. 102, p. 251; V. 100, p. 253.
$203,000 Lexington Olv 5s and $2,000 Leroy Sc Cauey Valley 0s.
First Terminal M . and Col. Tr. 5s of 1911, V. 92, p. 119; V. 105, p. 1797.
(2) New Common Stock. *u\th $200,000,000: presently las..'$82,839,500.
Equipment bonds series “ J ,” V. 102, p. l7 l8 . There Is no series “ I .”
. ,, f}j?r,comra0i? and^ pref. stocks Issued aro In a voting trust expiring
Guaranteed bonds: Warrior Southern Ry. 1st 4s of 1903 (all owned),
APriL 1922 or earlter, at option of trustees. The voting trustees are Otto $603,000; Meridan Terminal 1st 4s (jointly), $250,000; Gulf Terminal
H. Kahn. James N. Wallace and Robert Wlnsor. V. 104. p. 2343.
1st 4s (jointly), $600,000.
BONDS First A Ref'. Mtge. Bonds— Total issue. Including amounts
LATEST EARNINGS.— 11918-Gross, $14,840,901; net (bcf. $709,729
rasorv^ for refunding. Improvements, extensions, &c., under restrictions. 12 mos., Jan. 1 to Dec^31.\1917-Gross, 13,604,506; taxes), 3,251,530
Is limited l°J5®8t with further consent'o f a majority in amount of the stockR E PO RT.— For calendar year 1917 in VT107, p. 2285.
further-limited so that tne total at any time.
------ Calendar Years------ — Years end. June 30—
Including amount-s r^orved for refunding bonds and equipment trust*
1917.
1916.
1917.
1916.
(togethor aggregating 5135.945,500 in Juno 1917, exclusive o f the-equlpment
trust maturing *?rlor to
ly l 1918, which wore provided for undor plan): Total oper. revenue___ $13,604,506 $12,229,643 $12,859,866 $11,868,038
shall never exceed three Uinos the capital stock at the time outstanding, Net over taxes_________ $2,562,513 $2,813,273 $2,751,957 $2,925,200
nor shall Issues above $450,000,000 exceed 80% of the expenditures for im Not, incl. other income. $3,646,278 $3,421,075 $3,812,009 $3,182,491
2,252,587
2,329,605
2,329,361
2,305,540
provements and additions. Tho $46,923,150 bonds isSuable under the Interest, rentals, &c___
240,672
210,672
240,672
240,672
plan boar 5 Jf, Interest and mature and aro callable (as an entirety only) In Dividends paid (4 % )__
12,957
5,766
5,391
10,829
series as shown In table above; future Issuos must not carry ovor 6% inter Additions & betterments
est nor mature earlier than Juno 1 1 9 4 8 and ir dnslrmi m l v ha m .fia Z
Balance, surplus.........$1,140,062
$869,097 $1,230,903
$607,067
aS-U^'a tUOV 1 reswvail
tab,en above). $46,923,000. less $6,398,700
Pres., Fairfax Harrison; Federal M gr., It. V. Taylor, Mobile.— (V. 106,
6s .iuo Nov i l o ^ s U l ^ n o x c h '^ l 18
° l<1 ° 0nS01- l8t 2560; V. 107. p. 2285.)
„ , Fi S I? an?atrmU1L l?P'?,51 ,yhlcb Flrst & Rof. M . is a first lion, 3,454 miles;
"MONON.” — See Chicago Indianapolis Sc Louisville Ry.
2d lion. 1,614 miles, 3d lien. 1,440 milos; 4th lion, 285 miles; a first lion
★ MONONGAHELA RA ILW A Y.— Brownsville Junct., Pa. (connection
with
Penn. R R . anij Pitts. & Lake Erie RR.) to Fairmont, W. V a.,69 miles,
3 4
with branches aggregating 39 miles. In Nov. 1915 operations extended
(2) Gm<ral Mortgage Bonds— Total authorized, $53,000,000, to bear 4 % from Penn.-W. Va. State line to Fairmont, W. Va., 33 miles. A consolida
•• and mature 19/5, but redeemable as a whole (but not In part) at par tion July 1 1915 of Monongahola RR. and Buchannon & N. Soo Pitts. &
1921. A Junior lien upon all pro£ert(r at , U
L. E. report, V. 102, p. 1535; V. 106, p. 2003.
Stock auth., $10,000,000; par, $50. Outstanding Doc. 31 1917, $5,
000,000, of which Pitts. & L. E. (N. Y. Central System) owned $2,500,000
and the Penn. System, it is supposed, the remainder, the Penn. R R . Co.
itself owning $1,676,500 on Dec. 31 1917. First & Ref. Mtge. bonds of
EARNINGS. 12 mos.,[1918.Gross, $89,612,397; net (be- $ 1 6 ,3 8 0 ,6 5 9 1917 auth., $15,000,000; issued in 1917 to company in N. Y. Contral and
Jan. 1 to Doc. 31.
\1917-Gross, 78,320,313; foro tax.) 25,072,275 Pennsylvania systems in settlement of outstanding notes, &c., $4,584,000.
V. 106, p. 2011. Pitts. & L. E. and Pittsb. Va. & Charleston (Penn.
ANNUAL REPORT.— For year 1917 in V. 106. p. 1892. 1910.
RR.) guarantee tho 3>$s.
Calendar Years—
1917
1916
1015
LATEST EARNINGS.— f 1918-G ross, $3,208,757; net (before $937,641
Total operating rovonucs.....................$78,320,313 $69,972,812 $58,209,306
793,750
Operating expenses............................... 53.248.038 51,342,397 42 559 670 12 mos., Jan. 1 to Dec. 31.\1917-.Gross, 2,152,836; taxes),
RESULTS.— For cal. year 1917, gross earnings on 108 milos of road,
Taxes, &c............................................... 4,243,312
3.103,762 2,595 996
$2,152,836; net, after taxes, $755,920; other incomo, $8,609; lnt. on bonds,
rentals, &c., $761,737; bal., sur., $2.792.— (V. 105, p. 181.)
O p e n in g lncmno.............................$20,828,963 $15,526,653 $13,053,639
OFFICERS.— J. M . Schoonmakor, Pros.; J. J. Turner. V.-Pres.; T . H. B.
1,443,872
l|loiU74
Other income........................................ 1,470.914
McKnight, Treas.; Lewis Neilson, Sec.; J. B. Yohe, Fed. M gr., Pitts
Oross i n c o m e .....................•_------ $22,299,877 $16,970,525 $14,156,814 burgh.— (V. 106, p. 2611; V. 107, p. 82.)
Interost, rents, &c............................... 13,334,774 16,011.517 15,397;361 AMONONGAHELA SOUTHERN RR.— Line extends from Monongahela
Jet. to Mifflin Jet., Pa., 6.59 m. (leased to Union R R . of Pennsylvania).
Balanco surplus or deficit.........sur.S8,965.103 sr.$959,008df$l.240.547
STOCK.— Auth. and outstanding, $160,000; par, $50, all owned by
I ho operations o f tho reorganized company from Juno 1 to Doc. 31 1917 Union
RR. of Pennsylvania.
P m onti; show operating revenues, $47,193,409; operating Income,
BONDS.— Auth., $3,000,000: outstanding, $1,200,000; In treasury of
f 12,710,281. other Income, $902,241; deductions Including interest chargos
U.
S.
Steel
Corp., $800,000. Dated Oct. 2 1905, duo Oct. 2 1955.
$6,994,340; and surplus availabio for dividends, $6,618,181.
'
WYOMING & SOUTHERN RR.— Owns from Brldger. Mont.;
OFFICERS. Harry Bronner, N. Y ., Prosidont: F. J. Shepard. Vico- AMONTANA
on
Northern
to Belfry, and westerly to Bear Creek, about 33 miles,
Pres. J. G. Drew. Vice-Pros.; O. B. Huntsman. V.-Pres., Asst. Sec. & serving a coalPacific,
district. Stock outstanding. $1,000,000. Additional bonds at
Asst. Ireas.. I£-pk. Utter, Sec.-Treas.; Federal M gr., A. Robertson, and $25,000 per mile. V. 89, p. 470. In Alar. 1919 entered into co-operative
federal rroas., . AI. Hickman, St. Louis.
agreement with U. S. RR. Admin, (no compensation). V. 108, p. 973
DIRECTORS (now company),
Year 1918, gross. $344,858; net, $135,535; int., taxes, &c., $65,025; bal
am Cutler, J. G. Drew, Aloxa
ance, sur., $70,510. In 1917, gross. $306,099; bal., sur., $52,249. Pres
dgar L. Marston. Finley J. Shoj
Frank S. Gannon.— (V. 103, p. 1210; V. 105, p. 1309; V. 108, p. 973.)
—. Wiggln and William II. Williams, amv iu m , tv imam ti. c,ee, iviaetnow ★ MONTGOMERY & E. RY.— (See M a p Erie RR.)— Owns Montgomery
O. Brush, Now York; John G. Lonsdale and Edward O. Simmons, St. Louis; -'J
GS?'1011- N. Y .. 10 miles. Leased In 1872 to Erie RR. Rental now
S ha,s’
InW
’ Fhila., and R. Lancaster Williams, Baltimore. New *16.000 per an. Stock. $150,000. Dlvs. (4 H % per an.) paid May 10 and
York office, 120 Broadway.— (V. 108, p. 269, 973.)
Nov. 10. S. fd., $0,500 per an. There aro $40,500 2d M . 5s due Oct. 1 1927.
sst* rp«JhS\,,t'?hirboU'7ram"“:“,Ja"ml“Bohor,y
84
★ Control.
Governmen
Mites Date
Road Bonds
RAILROAD COMPANIES
[For abbreviations, A c., see notes on first page]
.
Mobile & O h io R R (Concluded)—
.
159
M ft O St Louts LBv M $3,000.000gred 102)4 Cexo*
159
St Louts ft Cairo 1st M gol'J issumed-------- --------zc
Equip tr Ser
" B ” sinking f u n d - - - - - - - - - -*
do
Ser “ F” $22,000 and $23,000 s-a
Ba.x
do
Ser " O ” $32,000 s.-a.— last 3, $31.000Ba.x
do
Ser “ H” $50,000 s-a, last 3 $53.000-Bs»;y
...
do Ser " J " due s-a $47,000 Dec, $48,000 J’ne Ce
Mobile Terminal & Ry— See Ala Tenn & Nor R y ...
Mohawk & Malone— See New York Cent & H R RR.
M onongahela Ry— ls t & R o f.M . $15,000,000 gUPi
37
Monongahela RR 1st M $1,500,000 Joint guar------k
M onongahela Southern RR— Seo U S Steel Corp un der In
Monongahela River RR— Bonds— See B & O RR
33
Montana Wyom St Sou— 1st M gred 110 text--Em xo
Montgomery & Brie Ry— 1st M (old 7s extended In 8 6 )
57
M ontourR R — lstMg$2,750.000redl05sftextUP.xc*
_
_
jc* Equipment bonds, see text.
- -M orehead & Nor Fork— 1st M g trust Clearf Tr O o.x
Morgan’ s La & Texas— ,
„ ^ ,
...
_
127
First mortgage Alexandria Extension gold-------- Fz
Morgantown & Kingwood— 1 st M closed Issue._
1st mortgage $1,500,000...................................Morris & Essex—Stock 7% guaranteed D I. ft W - - -
1913
1886
1899
1912
1913
1914
1916
2
Par
Value
1909
1866
1913
1908
1880
1902
1905
13 1903
Amount
Outstanding
$ 1 ,0 0 0 n$2 500.000
4 ,0 0 0 .0 0 0
500 ftc
499,000
1 .0 0 0
135,000
1 ,0 0 0
285.000
1 .0 0 0
550.000
1 ,0 0 0
713,000
1 .0 0 0
When
Payable
Rate
%
5g
4g
5
4)4
5g
5g
4)4
&
J ft
A
M ft
M ft
J & J
J ft
J
F
ft
A Feb 1 1958
Clearfield (Pa) Trust Co
ft J July 1 1920
ft J Jan 1 1922
ft J Jan l 1935
ft .1 Jan 2 T9. 4)4%
ft D Matured
ft D Deo 1 2000
ft N M ay 1 T9. 2%
ft S Sept 1 1923
ft J Jan 15 T9,2)4%
ft J Jan 1 1927
ft o Apr 15 1970
ft D Juno 1 1933
ft O O o t l 1 9 2 5
July 1 1919
ft J July 1 1926
373.000
5g
100
1 .0 0 0
50
’07-’ ll
1914 £ 1 0 0 . ftc
Sl.OOO
138 11103
1.00C
.*38 1900
Munising First M tg g o ld ---------------191ft
luscatine B urlington & So— 1st Mtg
1916
Ten-year Mtge debentures $100,000.
& In diana.
i,00C
1904
Mutual Terminal— 1st M gold s f red 102)4-.
100
14)4
Nashua ft l.oweil—Stock 0 % rental 99 years B
n Excluding $500,000 held for account of company Dec. 3 1 1917
2 2 1 ,0 0 0
260.000
282.350
500.000
t2,238,667
1 ,0 0 0 .0 0 0
160,000
498,700
52,100
6
5
5
4g
5
6
nanover Nat Bk, N Y
Farmers Loan & Tr, N Y
do
do
Bankers Tr Co, N Y
do
do
do
do
Central Trust Co, N Y
J
J
J
J
J
3
M
M
J
J
A
J
A
1 ,0 0 0
5
5
7M
7
3)4g
4
5g
5
Dividends are Payable
Empire Tr Co, N Y
Goshen, N Y
Union Tr Co, Pittsburgh
5g
5
5g
g
108.
S Sept 1 1939
N May 1 1920
A Feb 1 1963
835,000
130,000
2,475.000
6
.
M ft
M ft
F &
1 .0 0 0
1 ,0 0 0
1 ,0 0 0
1.494.000
40,500
500
771.000
500 ftc
50 15,000.000
9,191.000
1 ,0 0 0
1 ,0 0 0 25.305,500
D Dec 1 1927
J Jan 1 1931
O Oot 1 1919
S Sept’ 19-Mch ’22
N Nov ’ 19-Nov 23
15 July ’ 19-July’ 24
D JuneT9-Juno 26
o l
Treas. office, Plttsb, Pa
4)4 g J
3)4 8 A
1 ,0 0 0
Last Dividend
and Maturity
[V
& J Jan. 1 1967
ft O Oot 1 1942
4,584,000
1.197,000
1 ,0 0 0
1917
1 ,0 0 0
1902
dustria Is below.
1875
119 1900
Mount Hood RR — 1st M $500,000-
APrlvate
Control.
RAILWAY STOCKS AND BONDS
J
237,000
4 g J ft
800.00C Seo text M ft
S P Co. 165 B’ way, N Y
Bk of Mon Val, Morg.WV
Davis Tr Co, Elkins, WV
Del Lack & Western, NX
Del Lack Sc West. N Y
do
do
Brooklyn Trust Co, N Y
Reading Terminal, Phtla
Ogden (Utah) Sav Bank
Cit Sav & Tr Co. Cleve
do
do
Cont & O Tr & S Bk. Oh
Ger Tr Co, Davenport,la
U S Mtg & Tr Co. N Y
J July 1 1924
N M ayl T9, 4)4% Check from Co’s office
A MONTOUR RR.— Owns Montour Jet. to the Mifflin Yards of Bessemer Aug. 1916 of Muscatine North & South Ry. V . 103, p. 579 V . 99. p. 969,
A Lake Erie R R . and branches, 51 miles. In Oct. 1918 the Northern Mon 1749. Stock, $450,000; par, $100. In Nov. 1916 Muse. Burl. & So.
Securities Co. was Incorp. In Maluo with $800,000 auth. cap. stock. V. 103.
tour RR. C o., with $350,000 of auth. capital stock, was incorporated.
Stock $1,500,000, owned by Pittsburgh Coal Co. V. 96, p. 286, 861. p. 1981. For cal. year 1917, gross, $151,357; net, after taxes, $“ 3,423;
int., rents, &c., $50,169; def., $26,7*47. For year 1918, gross, $162,004,
Road not taken over hv Director-General. V. 106. D. 2011.
In Feb. 1917 obtained authority to increase the authorized capital stock net after taxes, $9,827; int., rents, ftc., $34,046; def., $24,219. Pres.,
from $1,500,000 to $5,000,000 in order to retlro equip, trusts of 1913. E. H. Ryan, Muscatine.— (V. 103, p. 579, 939, 1981.)
MUTUAL TERMINAL CO. OF BUFFALO.— Owns 5.22 acres of land
$961,000 refund $165,000 1st M . bonds paid out of working capital and for
with 1.486 feet of ftontage on tho city ship canal, wharves, freight house
additional tracks, equipment, &c., $706,638. No new stock issued to
and a steel and brick grain elevator, capacity 3,000,000 bushels. Stock,
July 10 1917. V. 104, p. 764: V. 105, p. 910.
,
, ,,
,
. .
Bonds, originally $2,750,000 1st 50-yr. 5s; retired by sinking fund to $60,000, all owned by the N. Y . O. Sc H. R. R R ., D. L. & W ., Lehigh Valley
Dec. 31 1918, $275,000: redeem, at 105 as a whole on and after fe b . 1 1924, and Erie, which each, under agreement of Jan. 2 1905 as amended, guaran
or at 102 'A for a sinking fund of $55,000 Yearly
E 9 h>P- tnuit gold 5* tee to pay one-fourth the Int. and sinking fund charges on the bonds (the
of 1913, $961,000 Issued, duo yearly to April 1 1938. and $917,631 April 1 latter $200,000 yearly). Of tho bonds ($5,000,000 total auth.), $444,000
1923. Issue of 1916 guar, by Pittsburgh Coal Co., due $20,000 yearly are roserved for futura uses; $4,319,000 to July 1918 retired. V. 89, p. 779.
Pres., O. S. Goldsborough, 50 Church St.. N. Y.; V.-Pres., J. A. Middle
Jan. 1 1920 to 1926, $220,000. For year ended June 30 1916. grc»s earaings were $660,077: def.. after opor. exp., $51,345: other income, $359,541: ton; Treas., F. II. Sllvernall. 143 Liberty St.. N. Y .— (V. 106. p. 1348.)
surp., $135,240. For cal. year 1917, gross, $824,095; net def.. after taxes.
★ NASHUA ft LOWELL RR.— Owns double-track road rrom Lowell, Mass.,
$168,241. Jan. 1 to Feb. 28 1919, gross, $145,590; net, def., $78,032. In to Nashua, N. II., 14.26 miles. On Oct. 1 1880 leased tor 99 years to Boston
1918! gross, $140,122; net, def., $34,655.— (V. 106, p. 2011.)
t Lowell. Tn 1887 lease was transferred to Boston ft Malno, which pays
a rental of $73,000 (9% on stock) and $1,000 for annual expenses, and In
MOREHEAD & NORTH FORK R R .— See page 132.
April 1911 received authority to purchase stock; in N ov. 1906 to 1912 Incl.
★ MORGAN’ S LOUISIANA ft TEXAS RR. & STEAMSHlP CO.— See Map
\i% extra was paid from accum. cash surplus.— (V .88,p.970; V . 8 5 .p.lUUo.)
o/ Southern Pacific.)— ROAD.— Owns Algiers to Cheneyvtlle. 205 miles,
branches. 119 m.; extensions to Port Allen. La.. &c.. 53 m.; trackage to ★ NASHVILLE CHATTANOOGA ft ST. LOUIS R Y.— Owns from Chat
tanooga, Tenn., to Hickman, K y., 323 m.; branches to Lebanon, ftc.. 522
Alexandria, &c., 25 m.; total, 401 m.; ferries, 3 miles.
ca.; leases Western & Atlantic, Chattanooga, Tenn., to Atlanta, Ga.. 137
“ ADVANCES” AND “ STAND ARD R E T U R N /’ &c.— See page 5.
Sou. Pac. Co. owns the $15,000,000 stock. Dlvs. 1906-07,10%l 1907-08, m. (V. 104. p. 452); and Memphis & Paducah Division of tho L. & N., 254
25^|; 1908-09, 4% ; 1909-10, 5% ; 1910-11, 6 % : 1911-12, 4% : 1915-16, 2% ; miles. See V. 71, p. 544, 684. 864. Total operated Jan.I 1918. 1.237 mllos.
ORGANIZATION.— A majority ($11,484,100) of the stock Is owned by
The $4,935,000 1st 7s were retired at maturity April 1 1918, presumably die Lou. ft Nash., of which $8,802,400 pledged under its mtges. West,
t Atl. Is leased from State of Georgia till Dec. 27 1919 at >120,012 yoarly.
with funds advanced by Southern Pacific Co. V. 106, p. 1461.
Under the lease as extended to Dec. 27 1969, the rental for tho 50 years
EARNING S.— 12 m os.,(1918...........Gross, $8,352,107; net, $2,773,379
will be $540,000 yearly with taxes of about $113,000 p. a., while SbO.OOO
Jan. 1 to Dec. 31.
\1917.......... Gross. 6,910,459; net, 3,008,449
In cal. year 1917, gross income was $2,572,411; charges (incl. interest yearly from bee. 27 1919 will be applied to Improv’ts. V. 104. p. 684. 863.
The Paducah ft Memphis Dlv. of the Louisville Sc Nashv. RR. Co. is
on fund, d t., $435,090), $582,863; bal., sur., $1,989,547.— (V. 106, p. 1461.)
leased for 99 years from Doc. 14 1895; the annual rental is 5% on the cost
of road and 5% on amounts paid by L. Sc N. RR. for additions, oto.
★ MOROANTOWN ft KINdWOOD RR.— Owns Morgantown to M. ft K
Owns Jointly with the Chic. Burl. & Quincy the Paducah ft Illinois R R ..
Jet., W . Va., 47.94 miles; Rock Forge to Richard, 0.77 m.; total. 48.7Ira
which has built a double track bridge over tho Ohio River at Metropolis,
Incorporated Jan. 14 1899 In VV. Va. Stock auth.. $2,000,000: par, $100
EL, and has constructed a line from Metropolis to Paducah. Ky.. 14 miles,
Bonds, see table above. Bills and loans payable June 30 1916 $270,000
For year ending Dec. 31 1917, gross, $416,608; net, $34,419: deductions, and will Jointly guarantee Its bonds. See that company and V. 106, p. 1788.
LATE DIV37— / ’07. ’03. ’09. ’ lO-’ lt . ’ 12. T3-T4. T 5.’ 16. L to Feb 19
$64,988; def., $30,569. Pros., Davis Elkins, Morgantown, W . Va.; Sec.,
5 6 yrly. 6)4 7 yrly. 5 6)4 7yrlv(F&A)
P e rc e n t...............\ 6 5)4
Richard Elkins, N. Y . Office, Morgantown, W . Va.
“ ADVANCES” AND “ STANDARD R E TU R N ,” &e.— (See page 5.)
★ MORRIS ft ESSEX RR.— (See M ao of Dela. Lackawanna A Western,
Compensation under Federal control, $3,182,089; contract signed
—Owns from Hoboken, N. J., with Important terminal facilities on N. Y
April 10 1919. On this basis, after adding about $151,300 for non:oper.
Harbor, to Phllllpsburg, N . J., 85 miles; branch. Denvllle to Hoboken, N . J
ineomo, atul deducting about $1,615,613 for fixed charges the approximate
34 miles; leases, 38 miles; total oper., 157 miles.
Leased Doc. 10 1868 In perpotulty to Del. Lack. & West., which guaran amount available for dividends in 1919, it is stated, should bo $1,717,770.
teed 7% per ann. on stock and, contingently. 1% extra. In May 1917.
BONDS.—Consol, mtge. of 1888 provides that all prior bonds shall be
following some litigation, It was agreed that In future the dividends under
paid oil at maturity; sufficient of tho $20,000 p.m. are reserved for them.
the lease should bo fixed at 7 *A%, pavable unconditionally, the additional V. 105, p. 607. V. 101, p. 131, 694, 1465; V. 103, p. 1301. 1593. On
rental (54%) for year 1916 to bo paid on Jul.v 1 1917, and for subsequent Jan. 1 1918 $15,347,000 consols had boon Issued, but $3,239,000 were in
years on each succeeding Jan. 1. respectively. See V. 104,p . 2118
treasury; of these last 81,500,000 woro sold in Aug. 1918, making $13,608,
The $9,191,000 7s due Juno 1915 were purchased by the D. L. & W. 000 outstanding. V. 107, p. 699; V. 106, p. 1788.
and are held In the D. L. & W treasury pending delivery to it o f 3 Ks under
Jointly, with Lou. ft Nash., guarantees $2,535,000 L. Sc N. Ter. 4s,
the lease. V. 102, p. 795, 609.— (V. 105, p. 2272; V. 106, p. 601.)
with the L. Sc N., Southern R y.. St. Louis I. M . ft So. and St. Louis South
A MORRISTOW N ft ERIE R R .—Owns Morristown. N. J.. to Essex western $2,500,000 Memphis Union Station 5s. and with the Chic Burl. Sc
Fells, N. J., 10.64 miles; 2 branchos. 2.32 m.. total 12.96 m. Stock. Quincy R R . $5,000,000 Paducah & Illinois R R . 1st M . sinking fund l)4s.
$400,000; par, $100. Bonds, seo table. For cal. year 191J. grass. $117,671;
EARNINGS.— 12 rnos.J 19 18..Gross, $21,757,403; net (bef. $4,133,838
net, after taxes, $30,381. In 1918, gross, $146,016; net. $42,608; interest,
Jan. 1 to Dec. 31.
(1917..Gross, 15,194,755; taxes), 3,644,723
rentals, &c., $29,289; div., $16,000 (paid from surplus); bal., sur., $13,319.
REPORT.— For fiscal year ending Dec. 31 1917. V. 106, p. 1788.
Pres.. R. W . McEwan, Whippany, N. J.— (V. 9b, p. 1629.)
★ MOUNT CARBON ft PORT CARBON RR.— Owns Mt. Carbon to Port a
S
l r &
Z
g
. » p !» 8 | s i S V
* n !| M te
Carbon, Pa., 2.60 m .; total track, 13.40 m. Leased to Phila. & Reading
999 years from Mar. 1910 at 5% on stock, taxes, ftc. (V. 89, p. 42.)
equipment
311,279/
415,323
304.408
Other Income. &c--------AM OU N T HOOD R R .— Hood River to Dee, Ore., 16.4 miles. Stock
*250.000; par. $100. Bonds, see table. Year 1916, gross, $82,664; net
Total Income................. $4,850,152 $4,750,149 $3,108,212 $2,889,211
22.582; Int., taxes. &c.. $56,059; bal., def., $33,477. Pres.. W. H
&533.6771
„
$582,776
Interest.........- ...............
$603,315
!ccles. Dee. Ore.; Sec. & Treas., n . H. Rolapp, Ogden. Utah.
313,789) $1,566,038
348.117
Taxes ft uncollectibles..
665,026
761,418
762,320
Rentals, ftc ..,_________
742,494
MOUNT ROYAL TUNNEL ft TERAHNAL CO.— A constituent com
(5)799.225 (7)1,118,930
pany of the Canadian Northern Ry. system, owning tunnel opened for traffic Dividends...................... (7)1,120,000(6)4)1039533 _______________________
Oct. 21 through Mount Royal affording access to terminals at Montreal.
Balance, surplus___ _ $1,719,317 $2,017,403
$700,103
$204,193
_________
V. 105, p. 1209. Cost to April 30 1917, V. 105. p. 1209.
Present bond issue was limited (V. 103, p. 1889) to $20,000,000 till
Chairman and President, Whttoford R. Cole; V.-P., II. F. Smith"
the $1,750,000 certain Can. Nor. Ry. notes (paid Dec. 1 1917) were re Treas., J. H. Ambrose; Sec., T . A. Clarkson; Gen. Mgr. under U. S. Govt.,
deemed (V. 105. p. 2271; V. 103, p. 1209). Tho bonds are callable at W . P. Bruce, Nashville, Tenn.; Fed. M gr., W. L. Mapother, Louisville.—
105 and Interest (sinking fund )4 % boginning In 1920). Trustee. British (V. 106, p. 1689, 1788; V. 107, p . 182, 697, 1192, 1670. V. 108, p. 1010.
Empire Trust Co.. Ltd. On June 30 1917 $11,430,034 or the bonds had ★ NAM1 vlLLE ft DECATUR R K .-iS ee M a p Louisville <» .vuVieth#.)—
been "issued’ ’ including $2,238,667 In hands of public and $9,191,367 Jwns
from Nashville, Tenn., to Decatur, Ala., 119 miles. Re-leased to
pledged, these last embracing £514,000 deposited as collateral for the afore
Lou. ft Na3 h. In 1900 for 999 years, tho rental being 7>4% on 3 tock. Ino
said Can. Nor. Ry. notes. Seo V. 105, p. 1304. In Dec. 1917 made a Lou.
ft
Nash. D e c 31 1 9 1 8 owned $1,758,850 of the stock.— (V. 70. p. 1195.
mortgage to secure demand loans from Canadian Govt. V. lOo, p. 2386.
By Act o f Canadian Parliament In M ay 1916, rentals paid the company ★ NASHVILLE TERMINAL CO.— Owns bridge across the Cumberland
by the Canadian Northern Ry., tho Canadian Northern Ontario Ry. and Klver and 20.17 mllos of track. Leased for 99 yoars to Tenn. Cent. R R .
The July 1 1918 coupons wero paid at Mercantile Tr. Co. of St. Louis at
the Canadian Northern Quebec Ry. are included In their operating expenses
maturity. In Feb. 1918 the Tenn. Central RR. had paid the ront In
and thus rank ahead o f their other fixed charges. V. 103, p. 1210; V. 102.
full to Jan. 1 1918. Payment of later coupons, if made, not reported.
»•. 1987. Capital stock. $5,000,000. owned by Can. Nor. Ry. Sec.. R. P.
Compare Tennessee Cont. RR. In V. 104, p. 2642, 1900; V. 105, p. 73,
Ormsby, Toronto.— (V. 104, p. 164, 1801; V. 105, p. 1209.)
•
AM UNISIN Q MARQUETTE ft SOUTHEASTERN R Y.— Owns Munis 181. V. 105, p. 607.
ing to Big Bay, Lawson to Princeton 96.26 mllos; branches 36.58 miles,
NATIONAL RAILW AYS OF MEXICO.— On June 30 1914 this sys
controlled by Cleveland Cliffs Iron Co. Stock $1,870,000; par $100. tem. including the Interoceanlc and Mexican Southern Rys. 11,04/
Bills and loans payablo Dec. 31 1917, $1,106,331. For year ending Dec. miles controlled but operated soparatolyl, aggregated 8,027 miles of road
31 1917, gross, $774,400; net, $199,773; other income, $4,618; int., rentals, (1,342 miles, 3-ft. gauge). During the revolution of tho succeeding 3 yoars
some hundreds of miles of track and many bridges, engines, cars, ftc.. were
&c., $11)8,255; bal., sur., $36,136.
MUSCATINE BURLINGTON ft SOUTHERN R R .— Muscatine. Iowa, destroyed. On Dec. 4 1914 tho railway, telegraph and telephone lines or
to Bui ling ton. 55 miles. This Includes 4.6 miles trackage, the company the Republic were seized by tho Moxlcan authorities and In April 1919
owning a parallel right of way on 4 miles. V. 80 p. 1059.
Successor In worn sMl in t.hnii* nnssosslnn. Status in 1919. V. 108. 1). 878, 1105.
a& ofSffimXi::::: ’ M S® •3« E § “ t i f f l *2ooI:io3
f
A
p r
., 1 9 1 9 . ]
★ Control.
Government
RAILWAY STOCKS AND BONDS
R A IL R O A D C O M P A N IE S
[F o r a b b r e v ia tio n s , & c .. se e n o te s o n fi r s t p a g e ]
M ile s
R oad
D ade
B onds
Par
V a lu e
Nashville C hatt & St Louis— Stock $16.000.000auth
First mortgage on Jasper Branch___________ Cez o*
23
First mortgage on Centrevllle Branch g __ Ce.zo'Ar
46
Cons mtge (520.000,000) 520.000 p m gold_.Us.zo*
846
Nashville & Decatur— Stock guar 714% by I, & N
119
Nashville Florence & Sheffield—See Louisville A Nash vllle
Nashville Term inal— First M gold red 105 ..M eat x
First Ref M $3,000,000 auth(V 98. p 1668)call 105.N
National Ry» of Mexico— Cora stock 575.000.000 U S g
first pref stock 530.000.000 4% n-c (p A d) .
B
2d pref stock 5125,000.000 6% n-o (p A d )...........
Prior lien M USgred 105beg'17 (seetext) Ce.xo’ A r'
Gen mtge U S gold redeem par (text) guar-.N .xo
Nat RR of Mex Prior Lien m tgegcall 105— Un.xo* 1,284
First Cons M 560.000.000 gold (see text) —Ce.xo* 1.534
Mexican Central— Priority bonds gold red 110
z
First Cons Inc A scrip n-oum (59,600 p m)g AB zo» 3.407
2d oo ns lno(56.400 p m)red 50% to July ’29 AB.zo* 3.407
Car and locomotive rental notes _
x
Equipment 5s 550,000 redeemable yrly a't'p ar"x
do (550,000 yrly par( red 10214 beg ’ lO.OB.xo*
•Mex Int prior lien £1,200,000 red at par.Un.xo* Ar
615
First cons M 516,000,000 g not guar-.M p.xo'& r
866
do g guar stamp subj to call at 95 to Moh 1907.
866
Vera Crus A Pacific 1st M g red (text)______
xc*
263
Pan Amer (Mex-Quat) 1st M(text)redl05gu pAl’ xc*
285
x
General mortgage guar prin A lnt________
285
Nat Rys 2-year secured gold notes red par.........Cex
3-year secured notes $2,460,341 red p a r ..
a
Secured gold notes extended In 1914 and 1915."."."..
Three-year secured notes $1,509,752 red par____a
Secured
gold
notes
$813,090
o
G
aammm/1 oa
IjI —
—
.a._an
a Aa a red par.............
A m ount
O u tsta n d in g
R a te
%
W h en
P a y a b le
APrlvate
Control.
L a s t D iv id e n d
a n d M a tu rity
85
P la c e s W h ere In ter es t a n d
D iv id e n d s a re P a y a b le
$100 $16,000,000 7 In -17
A A Feb 1 '19. 334 New York and Nashville
1883
1.000
371.000
6g
A J Jan 1 1923
do
do
1883
1.000
376.000
A J Jan 1 1923
0
8
do
do
1.000 13,608.000
1888
58
A O Apr 1 1928
do
do
25 3.653.750
7X
A J Jan 1919,3H % Louisville, Ky
1902
1,000 1.000.000
J A J July 1 1932
5 *
See Text
1.000 1,000.000
1909
5g
M A N M ay 1 1949
74.803.466
City of Mexico .*Lond*,”Ae
28.831.000
Office. 25 Broad St. N Y
120.434.491
1907 5. £, Ac 84,804.115
A J July V 1957
See text
1907 $ , £ Ao 50,748.575
A O Oct 1 1977
See text
1902 5500 Ac 23.000.
000
A J Oot 1 1920
See text
1902
500 Ac 24.740.000
A O Oot 1 1951
See text
1889
1.000 1.374.000
A J July 1 1939
5g
See
text
1889
1.000
170.600
July 10 Jan 10 1939
None j>ald
1,000
1889
21,000
3*
Jan 101939
662.456
1897
1,000
150.000
5 g A A O Apr 11917
1899
1.000
300.000
5g
A A O Oct 1 1919
See text
1897 £100 Ac 5.850.000
434 g M A S Sept 1 1947
Mar 1915 coup not paid
500 Ao
1897
M
A
Sept 1 1977
do
do
! g
2 M A
1897
600 Ac a4.206,500
4
Sept 1 1977
do
do
1904
$1,000 7.000. 000
A
4H g
July 1 1934
Jan 1915 coup not paid
1903
1,000 2.003.000
A
Jan 1 1934
See text
1907
1,000 1.484.000
A
Jan 1 1937
See text
1913
$ £ Ac 26,730.000
A
June 1 1915
Dec 1914 coup not paid
45 .Ac See text
1913
A
Jan 1 1917
1913
746.000
6
June 1 1915
Dec 1914 coup not' paid
2. Ac See text
1914
6
A J Jan 1 1917
1914
See text
6
A J Jan 1 1917
Dec 1914 coup not paid
1914
None Issued
J A J Jan 1 1917
6*
1,000 g.x
1899
1.000
3.000
M A N May 1 1919
§
g
Go’s office. 68 William 8t
1917
1,000
850.000
M
&
N
May 1 1967
New York
Nevada Central— l s r i l gold*non-oum ino (sk fd)” *Cez
94
1,000
750.000
J A J July 2 1938
4% paid Dec. 1917
Nevada Copper Belt RR— First M 51.000.000 g o ld ..z
500 Ao
1909
622.000
J
A
J
June
1
1919
Boston. Mass
Nevada Co N Q RR— 1st Mtdue part yearly s. fdcall. 203
1.000
89.000
7 g J A J 1920 to 1924
Wells.
Fargo Bk. San Fr
Mortgage sk fd call 105 $500,000.......................US 203
1914
1,000
49.000
5
A O April 1943
Union Tr Oo. San Fran
a Uui of the $7,206,600 Mexican International RR. 1 st con sol. M . 4 s there was pledged $ A
3.000,00
0
.
under
prior
1
1
n» 9 1
C n 85.200ca pltal stock p
en mtge. of the National
Rys. o f Mexico of June 22 1908. $4.499.000 Income bo mid
nds an'd$
15.7
lodged un der conso\ . m . of National Rys of Mex-of Mch 15*02
In April 1919 the Mexican Government was operating the bulk of the
REPO RT.— For calendar year 1917, compare V. 107, p. 1379
linos owned and leased by the National Railways of Mexico, Intcroceanic
n
oi
„ Grass.
Total Net. Bond Int. Miscel. Sink.Fd. Deficit
Railway o f Mexico and Mexican Southern Railway, together aggregating Dec.
31 1918...$293,510
$5,617 $52,028
$1 854
, 4 s oiu
on Juno 30 1918 6,882 miles of, road in operation and 613 miles of un Dec. 31
1 9 1 7 ... 383.873
17,502
59,440
3 270 " " I *
45 20*
operated road, under title of National Railways o f Mexico. The use of
Dec.
3
1
1916
3
91,726
49,080
64.009
1,500
$6,780
23209
tho name “ Constitutionalist Railways of M exico,” by which these GovernmenL-operated^lines were previously designated, was dropped Jan. 1 1919. p. 1379’ m f 1)* Moran; TreaS-- R -R osa, 68 William St.. N. Y .— (V. 107,
Feb"I6*i3'2%
41 5
41f
705.500
Ig
t*
1888
K The Vera Cruz A Isthmus R R ., 34034 miles, and Pan American Railway
285 miles, were in June 1917 segregated to facilitate tho operation of the
Mexican Railway.
The Texas Mexican R y., 162 miles, controlled by stock ownership, was
released by U. S. R R . Administration in Sept. 1918.
ORGANIZATION.— Organized March 28 1908 under special Act of Con
gress of Mexico, per plan in V. 86. P. 918. 982. The properties of Nat. R R .
o f Mexico, Mex. Central and Mex. InternatlonalVrere acaulrcd hv dnerio
V. 88, p. 452, 1318; V. 89, p. 1601; V. 90, p. 1554 6 Vera Oruz A^sthrrms
RRN °v. I 191^ and its bonds assumed I n d tto
I an-American RU. in March 1914. V. 97, p. 1740 182R* V qr n innn
The Mexican Government owns $115,056 367 of the
nonnnn
orlzed stock viz.: $ 1 0 ,0 0 0 ,0 0 0 firstpreferred.$30.278?8^
o f the^ge’neMpnatge.llb™nd88t0Vl.,8*IJ<p g?533n^ S 4b®
l « p r i n c i p a l
? 9 l5 1( } 29 ) 44 ^ d008? 8 «
,nyci
lnt. were defaulted, and tho plan to fund the July 1^to Sent 3 0
™D
ad
turitlos has not been declared operative. V? 1 0 £ p . 2010. 3° 1914
DIVS.— 1st pref.. 1908. 1% ; 1909. 2% : 1910 to 1912. 4 % ; 1913. 2% .
Mexico, and Mex. Int. R R . and the s e c u F e d n o t ^ o f ^ a t R y ^
ChM°
“ l o f f l l f l : ' V ^ 0 6 . pD 3P9?.Uaryt Glyn' M ills?C u £ie A 'S o //L o n d o n .
Sc f f l ? n V 8 6 ° n Pri03ri 9 e9 1 ^ ^ H b^ n<ls (*225.000,000 auth.) were debondMSieO.OOO.'oSo i u t h ' . ^ i ^ V ^ p .
gCneral “ ° rtgage 4%
Additional bonds may be Issued to retire Mex Interna* RR cnrumia
The General mtge. bonds will be subject to can £t pa? after A p r ilT 1927.
Financial Status.— As the decree o f seizure o f the raiiwnv t .im m i, nnd
Cruzh
on Dec.
D e c ^4d 1914,
^ M i^
1?fUe.d,by
tbothe
MexIc»n
authorisestho
aP com
Vera
C ruzon
is stilffn’
still in effect
for all
lines composing
pany s system in Mexico, the company is without income from those lines
any 1>art of ,ts interest or other charges, the
*00,29 / ,U6Z. June 3 0 1918, less coupons funded
j
fiscal
aCCOunt °,f accru,n* exPenses tor
$538,638 (including $132,3295 <Lh d e p ^ t e V p a y m e n t ^ p r in c t o a fa S d
interest on bonds, Ac.; or as guaranty) contrastingwith
i o 7 aal}„
1917. Not'es and accounts payablo as of June 30 1918, $82,224,265.
g o£l condition w L ^ t l m a t o d ^ l l ^ S o O . 1^
r° ad and equlpmont ln
19?9EPO R T'— ReP° rt ^ year eDdlng June 30 1918 ,n ' ‘Ohronicle’ ’.April 26
Earnings o f "Constitutionalist Railways of Mexico,” Year end. June 30 1918
July to Nov. 30 1916, infalsificable
° r0M'
Oper.Exp.
Net.
...........$304,886,271 $146,725,992 $158,160 279
paper currency
'is
Kold 27,270,570 20.750.088
6 520 488
July 1 17 to June 30 18,Mox.pesos 57,001,692 36,579,667
20.422!026
Chairman of Board, Rafael Nieto; Vice-Chairman, Mario Mendezf r a ^ S 4- p F R a o h f ►?ec- .1Ing- R. D. Carrion, all o f City o f M exico-’
N ^ o U i c o 25 BroadSt ’ a“ d Asst‘ TroaS“ F '
Sou4hor' N. Y . City.
Directors (as o f Dec. 1918): In Mexlco c lty Frederick Adams, Carlos
Basavo y d,?* Ca StiJl0 .N -> Victor L. Blanco, Jose V. Burgos, Lie. Luis
Cabrera, Llias S. A. do Lima, Mario Mendez, Rafaol Neito, Francisco
Puga, Lie. Julian Ramairoz Martinez, Ignacio S. Rodriguez, Lie. Fernando
Gonzalez Rao. In New York, Henry Bruero, Alfredo Catureglia. Itamon
P. DenegrL
J - Uanauer, J. Ilirschman, Jesus Martinez, Lie. Juan 13
V?1°0’8?P . 87R 973,’ *65?) Wohrhan0- V- 107' P- 802> 1385. 2188, 2476;
NATIONAL TRANSCONTINENTAL RY — See Grand Trunk Pacific.
. R Y .— (3-/L gauoe.)— In Juno 1917
---- miles of the main lino and the 41r « u « iu i» , together with terminals ln Reno Nev
leaving 171
J5acl£3 taff, Cal., to Lake View. Ore. V. 107, p. 1379 ”
Of the $2,200,000 gold bonds of 1917, $750,000 were to bo used to redeem
a ,Se2JM5<JS5? ° f r>71 *old bonds o f 1899 (only $3,000 still out Feb. 1918?
and $250,000 ?Jff;e„ ™ uablc on account of additions and improvements; the
rem ain'^ $1,200,000 are issuable only for additional railway at not over
<•20,000 p. m. Total l^ue however, on entire lino, new and old, not to
exceed $10,000 p. m. Sinking fund to purchase bonds (or call at 105 A
int.V ^1922 to ]93l,p yearly ^ 0f 1% bonds then out. and thereafter.
II
ff £ ,EoV£ P A
,RR-— Battl6 M t- 40 Austin, N ev., 94 miles,
Onmmnv^' Stock. $750,000, in $100 shares, largely owned by the Nevada
payments on the $750,000 income bonds In recent
iAnP 11»S S V if f S - V< ? : Jan.
> 1908,0 2M %;
9 Feb. . 1909.1H
131 % ;: July
1 %'■ Dec. 1917, 4% ; none since
Phelps Stokes, 100 William St., N. Y . City.— (V: 106, p. 8 6 , 189.).
— Owns Wabuska to Ludwig, Nev.,
tVabuska to Thompson, 2.50 m.; total, 40.3 miles. Incorp. in
JJa'n® Marcb 22 1909. Stock, $1,000,000, all issued. Bonds, see table.
S9 Q19 i I i f gr«oo, '?i?c5 « 02, a§?t- S 8 4 >6 6 2 in 1916 and net. aft. taxes, $119 8 2 9 igagst. $29,755. Pres., Samuel Naphlay, Grass Valley, Cal.— (V. 9d.
n ^ E9 nAt P ^ P UNTT XANA?,R 9 W Q A U aE R R .— Colfax to Nevada City,
Cal., 20H miles. In May 1913 control was acquired by Oakland Antioch
A Eastern (Elec.) R y. interests. V. 96. p. 1630. Stock, $250,200; par of
Divs. Daid: In 1882, 3% : 1883. 6 %; 1903 to 1905 5% ;
i? ? 8 ',,??.?4 ',J2P9 and 1910. 214%: 1911, 614%: 1912, June, 8J4%; 1913,
see iable4and ^ ’. m ” * .1 1157? JUDe 1917’ 2% quarterly: slnce (7>- Bonds.
. Year ending Dec.’ Si 1916’ gross, $135,858; net (for tax), $42,372; other
81 -l5®; charges, $38,784; bal., sur., $7,290.
For 1917 gross
$128,904; net, after taxes. $24,600.— (V. 98, p. 1^95; V. 107, p /2 4 7 6 0 ’
^ Nr^.M.JERltEV ND,,,A^ A & ILLINOIS RR.— South Bend to Pine, Ind.,
H miles.
Stock, all Issued. $100,000; par. $100. Bonds, $250 000
Mechanics Trust Co., Bayonne, N. J. trustee. Year ending Dec. 3 1 1918
net, after taxes (inch $8 ,1 0 1 war taxes), $41,247; interest.
i n 1917, gross, $87,313; surplus after interest
charges, $13,761. Pres. A Gen. M gr., ciayton M ayo, New York; Sec ,
Bend * IndPPler’ TreaS-' T- A- HyneS- South Bend. Ind. Office, South
1 1 oS
11 2 )343;
fil 2 ;£93’
H i h n L JFHS w JUNCTION RR.— Terminal road through Jersey City
\ r V V^e€h.aWik?n,TTaboutr. 5 -6 2 m,les- Leased for 100 years in
I 88.® ,t 0 N- Y . Cratral A H. R. RR. Co. (assumed by N . Y . Central)
which guarantees bonds and owns the $ 1 0 0 ,0 0 0 stock.
& » ? £ ^ .u f RJ E£ &onNE)y YP RK RR — 'Owns from Erie Jet., N. J.. to
* V - } . 2 9 mIles: branches to New City, Ao., 5 m.; operates to
Havcrstraw, Ac., 14 m.; total operated, 48 miles. Erie R R . ln April 1896
purchased control Stock. $1.44(5.800 com.. $787,800 pref.; par. $ l 6 0 ConIs '^,t-1y )rel;rSt2 Sl£ and 1 st mtge. till 6 % has been paid on pref. for three
years at 5 % . \ . 90, p. 914. Year ending Dec. 31 1916, gross, $882 063net, after taxes. A c.. $200,235; other Income, $28,760; charges, $287 646:
bal., def., $52,304.>— (V. 90. p. 914.)
NORTHERN RR, - ° w n s from New London. Conn..
r*^
olJ.?.b.orohnVt -' t 0 South Londonderry. V’ t., 158 miles,
is s 9 n l ? i ? r S®JK5" fru°,mv, ? ec- 1 1 8 9 1 »o Central Vermont. The rental
*8 * 2 (3-552 P®r ,aunum, which leaves a small surplus after providing for lniS^Tan^o'ioPn 9 ^ ^
lvs \ . An extra div. of H % was paid July 2 1917,
and Jan. 2 1918. Taxes and Improvements mot by lessee. V. 90. p. 1677
A £ , £ WnME£ ,C.P CENTRAL R Y .— Owns Santa Fe, N. M .. to Torrance
1 16.7 miles; 5-mlle spur from Clark to Coal mines projected.
Incorporated
In Dolaware In Jan. 1918 as successor of the RR., foreclosed ana bid In
for Federal Export Corp. of 115 B ’way, N. Y . V. 105, p. 1708- V 106
p. 499, 929. Capital stock authorized. $2,600,000; par $100. No bonds
auth. or issued in Feb. 1918. Pres., 8 . O. Munoz (N. YT); Sec., FranUln
D. Wagner, and Treas., Fred. L. Watson.
Offices o f co.. 115 I3-wav
N. Y . City, and Santa Fe. N. Mex.— V. 106. p. 929.
y’
★ NEW ORLEANS OREAT NORTHERN RR.— Owns New Orleans. La.
«° Jfokson. Miss.. 182 miles, with branches. Rio, La., to Tylertown, MiS!
42 m., Slldel . La., to Folsom, La., Ac., 62 m., making a total of 285 mile*
operated, Incl. 29 m. trackage from New Orleans to Slidell, La., and other
trackage 13 m. Stock. $7,500,000. 1st M .. $10,000,000 ailth Issue*
"AD VAN CES” A N D "ST A N D A R D R E T U R N ." A c ^ S e e page 5 ?
EARNINGS.— 12 m os.,/1918.............-Gross, $2,197,315; net $503 436
Jan. 1 to Dec. 31.
\1917-----------Gross, 1,916,218; net! 6711411
REPORT.— For year 1917, V. 107, p . 2093, showing:
Dec. 31— .G ro ss.
Net.aft.Taxes. Oth. Inc. Int.Ments &c. Balance.
1917........... $1,916,218
$583,631
$192,351
$523 025
1916 ............ 1,746.701
717,579
99,419
629 995
287.003
1915 - - - - - 1.658.477
539.511
3,113
533 623
9.001
Pres.. Walter P. Cooke: V.-P. A Gen. Man., Wm. E. Farris: V .- pY ‘
O- b J a “ cfs, a n 4 9 - w . Goodyear; Sec. A Treas., F. A. Lehr. Fed. Mgr ’
O. M . Kittle, Chicago; Fed. Treas., Charles Ehiers Hattiesburg M iss—
(V. 103, p. 844,1409; V. 104. p. 104*5,1893; V. 107.% 402.1 o4 .1 ’o^ 1 7 4 8 :
2093.)
$252,957
°i 8 ^ EA?iS & NORTH EASTERN R R .— New Orleans, La. to
Meridian, Miss., 196 miles; trackage. 8 miles. Stock, $6,000,000 (pa7$l00)
pU’73?V ‘H K S . ’aif792h:, c ^ f e ! T l 6 l U,red *
^
°°
V l^ ’
"A D V A N C E S" AhfD "ST A N D A R D R E T U R N ,” Ac.— See page 5.
D IV .— (% ) |*05. -06. ’07. ’08. ’09. '10. ’ l l . '12. *13. ’ ^ ’ lo . '16. 'll ’ 18.
Y early— ...J 344 5
6
4
5 6)4 6)4 5
6
1 yrly 4 4
6
Stock “’common $’1,450,000; pref.. $750,000. After 5% on common, both
. j - 49 Jp.a ™ F K age w? 2 authorized to secure not exceeding $16 0 0 0 5awt a s *tIV8,o?2 P « f - l6° 6' 3 % : 1907. 4% ; 1908 to 1910, I 000 bonds. The Initial $7,663,000 (Series A—see table above) were made
°.nly on cancelation of the $1,500,000 Income bonds of 1902 M d
, S y & ? 9 V*. 102. S fP1540911626.% : ° “ C° mm° n ’ 1 % ’ 19° 9: 1 % ‘ 191°* I ‘^u^b'o
he cancelation of the $6,163,000 Gen. Mtge. bonds (or the deposit of cash
★ Control.
Government
86
RAILWAY STOCKS AND BONDS
R A IL R O A D C O M P A N IE S .
{F o r a b b r e v ia tio n s , & c ., s e e n o te s o n f i r s t p a g e]
M ile s
R oad
New England— Also New Haven & Northampton— Se e New
12
New Jersey Indiana & Illinois— I' list M. $2o0.000 gold
5.62
New Jersey Junction— 1st M guar $4,000,000-(I.zo&r
34
New Jersey & New York— 1st Mtge ext 1910--------34
Second mortgage---------------------- -------------------------34
General mortgage_____________________ ____ _____
121
New London Northern— S to c k ----------------- ------- - - -
121
First mortgage-------------------------------- — Ba.xo &r
36
West River llrst mortgage guaranteed prln and lnt.
New Mexico Ry & Coal— See El Paso & Northeastern Co
243
New Orleans ureat Northern— First M g -C ol.xo &r
196
New Orleans lix North Eastern—Stock J6.000.000— 196
Prior lien mortgage gold- .
. . . . . . . . . . . Ce.xo
196
R ef & Imp M $ 16,000,000 g SerAcall 107HQ.xc*&r*
Equip trusts ($17,000 s-an to Aug 15 1924)--------- - Ser E g. due s a $18,000.June: $17,000 D e c .. Ba
New Orleans Term— 1st M 515,000,000 g gu.Ci.xo’ &r*
New Orleans Texas & Mexico Ry.
1st M $16,000,000 gold Ser A call 105--C ol yyc*&r*
Non-cum 5% Inc $25,000,000 g Ser A call par _c*q
N O T & M cq notes ser B gu due $56,000 s-a------Cl
Newport «ScJJichford— 1st M 5350,000 g gu C&P.SB.xo
New York Bay— First mortgage $6,000,000 gold.GPx
N Y Bklyn & Manhattan Beach— Pref stock non-cum
First cons mtge (now 1st M) gold guar by L I.-C e.o*
N Y Central RR— Stock ($400,000,000 a u th )_ ...T r
Convertible bonds call 110 $100,000,000-----C*&r*
Ref& Impt M g.Series" A,"assumed,see text G.c*acr*
(1) Underlying Main Line Mortgage—
N Y O & H B RR M $100,000,000 g ------Ce.xc*&r 1.828
do
do
Mtge on Spuyten D & P M g .C e.
826
Lake Shoro & M S 1st M gold, ass--------- Us.xc*&r
do
Debentures (sec by 2d M ) g, ass.Ce,xc*&r
do
do
do
gold assumedf------Ce.xc*&r
(2) N Y C & H Rin bonds secured by Consol'n Mtge
Collateral 3)4s (Mich Cent stock as collateral)-Q.x
b Lake Shore Collateral 314s assumed— G.xc*&r
b Consolidation M ($167.102,500)---------- Ba.xc*&r
Debonturesi Junior liens under C on-f------Us.xc*&r*
do
I solldatlon M of 19131-------- G.sc*&r
n An additional $20,000,000 (not issued to public) pledge
G ross.
N e t.
P l a c e s W h e r e I n t e r e s t a n ti
D iv id e n d s a re P a y a b le
York New Hav n & Hartf ord
$250,000
$1,000
1904
1.700.000
1,000
1886
394.000
600 &c
1880
1,600
100 &c
1885
631.000
600 &3
1892
1.500.000
100
1910 1.000 &o 1.500.000
75.000
1905
July 1 1934
Feb 1 1986
May 1 1950
Nov 27 1985
Doc 31 1932
Jan 2 ’ 19 2H. Vo
July 1 1940
1990
Mech Tr Co,B«yronne,N J
N Y Central RR.
Office, 50 Church St, N Y
do
do
do
do
New London Office
Cp 1I&M Bk.NY; reg md
New London Offloe
1905 1.000 &o 8,348.900
100 6,000.000
1.371.000
1.000
1885
1917 1.000 &c 7.195.000
186.000
1 ,0 0 0
1914
263.000
1.000
1916
000
1903 1.000&O 14.000.
Aug 11955
July 29 '18 6%
Nov 11940
Jan 11952
Aug '19-Aug '24
Juno’19-Juno’20
July 1 1953
Columbia Trust Co. N Y
New Orleans, La
•
Central Trust Co N Y
J P Morgan & Co, N Y
Now Orleans, La
Bankers Trust Co, N Y
Guaranty Trust Oo, N Y
Par
V a lu e
A m ount
O u tsta n d in g
R a te
%
5.870.000
15.158.000
504.000
350.000
5.201.000
650.000
1.726.000
1885
249,849.360
100.000.000
Par
1915
1914 $. £ & fr a40.000.000
000
1897 1.000 &c 94.000.
1909 1.000 &c 2.500.000
000
1897 1.000 &c 50.000.
000
1903 1.000 Sec 50.000.
1906 1.000 &c 50.000. 000
line N Y to Buf falo, &c.
1898 1.000 &c 19.336.000
1898 1.000 &c 25.159.000
1913 1.000 &c 65.419.000
000
1904 1.000 3cc 48.000.
1912 1.000 Sec 0.18*1.000
d to se cure $15. 000.000 2-y
1916
1916
1911
1911
1908
Guaranty Trust Co, N Y
Oct 1 1925
Apr 1 1919 pd 214% s-a
Oct 1 1935
Sopt '19-Sept'23 Now York
Safe Dep & Tr Co.Boston
Jan 1 1941
Treasurer, Philadelphia
Jan 1 1948
Apr 1917 214% Checks mailed
Treasurer Penn R R , N Y
Oot 1 1935
May 1 '19. 1 'A Grand Contral Term, NY
Grand Central Ter, N Y
May 1 1935
N Y. London & Paris
Oct 1 2013
100 &c
100 &c
1 .0 0 0
1 .0 0 0
1 .0 0 0
100
1 .0 0 0
100
Oth. I n c . I n i ., & c. D iv s .(A % ) Balance
1917 .------$ 4 ,9 6 9 ,2 6 5 $1,211,535 $472,522 $574,659 $240,000 $869,399
1916_______ 4,011,444 1,208.869 175.630 538,032 240,4)00 606.406
Pres., Fairfax Harrison. Fed. M gr., E. II. Coapman, Washington.
D . C .— (V. 105, p. 1892; V. 107, p. 1920, 2285.)
A N E W ORLEANS LOWER COAST R R .— Algiers to Burns, La.. 60 miles
Successor Dec. 1 1916 o f New Orloans Fort Jackson & Grand Isle Ity.. fore
closed and bid In lor a syndicate. V. 103, P. 407. Ires., II. Hall, Now
Orleans; V.-Ps., Leo Benoist and T . G. Bush; Treas., Bernard McOloskoy; Sec., A. O. Karnmer.— (V. 103, p. 1392; V. 104. p. 2343.)
★ NEW ORLEANS TERMINAL C O .—Owns extensive terminal prop
erty at New Orleans and a belt railroad around the city, leased to the
Southern Railway for 99 years from July 1 1903. rental covering all ex
penses of operation, maintenance, taxes and interest. Southern Railway
and St. Louis & San Francisco each owned half of the *2.000,000 outstanding
stock ($5,000,000 a u th ), and Jointly guaranteed the bonds, but the St. L.
& S. F. on July 1 1913 defaulted and forfeited its one-half share, the
Southern taking over the same. See V. 102, p. 886; V. 98. p. 304, 1460.
V. 86 p. 721; V. 88. p. 564; V. 92, p. 660; V. 97. p. 1898. The passenger
terminals are used by the Southern Railway System. New Orleans Great
Northern RR. and Louisiana Ry. St Navigation Co. Pres., Fairfax Harrii0n.— ( V. 98. p. 763. 1460; V. 100. p. 813.)
★ NEW ORLEANS TEXAS & MEXICO R Y .— ROAD— ORGANIZA
TION — This company and its subsidiaries, all of whoso outstanding
capitalization, both bonds and stock (excepting only $ 5 0 0 to $900 directors
shares) it owns, namoly tho St. Louis Brownsville & Mexico Ry.. Beau
mont Sour Lake & Western R y. and Orange & Northwestern R R ., form a
direct lino from Brownsville. Tex., to Baton Rouge, La., whence ferry across
the river and the Yazoo & Miss. Valley Ry. (Illinois Central R R .) aHmrd
an operating connection to New Orleans. Valuation protest, V. 104, p. 257.
System Operated Dec. 31 1917 (Including Aforesaid Subsidiary Lines) .
(With oper. connection over 111. Cent, to New Orl., 93 m.)
Miles.
Main line from Baton Rouge via Houston to Brownsville. Tex., about. b47
Of tho foregoiug 564 m. is owned and 85 m. is under trackage.
Various branches, aggregating about--------------------------------------------- 273
of which 250 m. Is owned and 17 in. under trackage.
——A total of about (seo full details In V. 103, p. 61)-------------- ----------- 920
Entire Slock and Bonds Owned—Operated Separately.
San Benito & Rio Grande Valley Ry. (V. 103. p.. 1 6 9 3 ) . . . . . ----- - - - 65
New Iberia & Northern HR., Port Barre to New Iberia, and branches.
72
Iberia St. Mary & Eastern B R . (leased to Now Iberia & Northern)---49
Principal trackage Is from Do Quincy to Beaumont. 46.54 mllos. and
Houston to Algoa, 24.32 miles. Tho Louisiana Southom R y., 67 miles, is
operated separately under lease; see that company.
ORGANIZATION.— Formerly part o f St. Louis St San Francisco R R .
but In 1916 separately reorganized, after foreclosure sale, per plan In
V 101 D. 774. 768. 1714; V. 102, p. 886. Incorporated in Louisiana.
Took possession on Mar. 1 1916. Compare V. 101, p. 768.
“ ADVAN CES” AND “ STAN DARD R E TU R N ,” &c.— See page 5.
' SECURITIES.— These includd (see V. 103, p. 493):
First Lien Gold Bonds.—Total auth., $15,000,000. Int. rate, not exceeding
6% nor annum, as determined at time of issue. Issuable In series, due
at the same or different dates, not later than Oct. 1 1925. and callable at
a premium. Reserved under restrictions for future extensions, Improve
ments &c., $9,000,000. Issued $6,000,000. of which in treasury
- Dec 31 1917 $130,000. V. 103. p. 01. 1593. 2156.
5% Non-Cumulalive Income Bonds.— Limited to $25,000,000 secured by a
trust Indenture. To bear non-cumulative interost payablo oeml-aunually
at rate of 5% per annum, but payable only when and as authorized by
the board of directors, according to provisions of tho Indenture. Entitled
to share In the security of any new mortgage issue on a parity with..any
such Indebtedness created In excess of $15,000,000 1st M . Initial Interest
payment, 1 V4 % made April 1 1917, and further 3)4% Oct. 1. making
5% for year; thereafter 2)4% semi-annually, 5% p. a. to and incl
CanFta/ Slockl— $25,000,000; Issued.-------------------------------------- $15,005,300
The entire Issue of now stock has been deposited until March 1 1921
with Willard V. King, N . A. McMillan and Ohas. II. Sabin as voting trustees
with power in majority on approval by the holders of not lass than twothirds of the outstanding voting trust certificates, to sell, exchange or other
wise dispose of said stock en bloc.
GENERAL FINANCES.— Dec. 31 1917 the company and Its subsidi
aries had as against current llabilltias of $2,703,761. current assotsof$6.366 398 of which $2,836,829 Is cash and $380,000 time doposlta.
All the outstanding ($535,000) St. Louis Brownsville & Mexico R y. 6%
receiver's equipment trusts duo serially to Juno 1924 woro called for pay
ment Juno 1 1918. V. 106, p. 2011.
EARN INGS.— 920miles. [ 1918-Gross, $7,752,525; net (bef. $2,263,084
12 mos. to Dec. 31.
\1917.Gross, 6,470,318; taxes),
2,421,955
[Vol. 108.
L a s t D iv id e n d
a n d M a tu rity
D a te
B onds
to redeem any uncanceled Gen. Mtge. bonds). Bonds of $1,371,000 are
reserved to retire the Prior Lien 5s and $363,000 to rotlre that amount out
of 3605.000 equipment trusts outstanding Jan. 1 1917. The remaining
te 603,000 now bonds are reserved from additions and Improvements unuer
restrictions. The old bonds, except prior lien 5s. have all boen retired.
V. 104. p. 865. 559: V. 105. p. 1892; V. 107, p. 1920. Future issuesiare to
bear not over 6% interest, mature not later than Jan. 1 1967, and do
callable at such prices as the directors shall determine.
LATEST EARN INGS.— 11918........ Gross, $6,474,718; net, $1,282,302
12 mos., Jan. 1 to Dec. 31.\1917-------Gross, 4.969,265; net, 1,629,760
R EPO RT.— For calendar year 1917 in V. 107, p. 2285:
.
Cal Y ea r
APrlvato
Control.
Grand Central Tor, N Y
do
do
do
do
do
do
do
do
duo Sept
do
do
do
do
do
do
do
do
do
do
REPORT.— For year 1917 in V. 106, p. 2114.
1915.
1916.
Calendar Years—
1017 Total operating revenues_____________$6,661,229 $6,410,378 $4,796,249
$974,726
Operating income___________________ $2,182,291 $1,946,810
25.049
Hire of equipment__________________
146,311
47,098
72,946
Other income______________________
x!59,281 _______________________
Gross Income_____________________ $2,487,884
Interest on income bonds (5 % )------y757,900
Rents, &c...............................__..........710.023
Balance, surplus__________________ $1,019,961
$2,044,805 $1,021,824
------ - - -,-r
821,687
780,619
$1,223,118
$241,205
A Includes $41,770 from Incomo on funded and $84,517 on unfunded
securities, y 3)4% charged to Income >andil 'A % to profit Sc loss surplus.
OFFICERS.— Chairman of the board, Frank Androws; Pres., G. II.
Walker; V.-Pres., Roy Terrell; Treas., J. II. Lauderdalo; Federal M gr.,
W. B. Scott, Houston, Tex.
DIRECTORS.— W. P. Conway, G. II. Walker, Frank Androws, Alex
Berger, Stedman Buttrlck, Carl A. do Gersdorff. J. D. O 'Keofe, Willard V.
King, Henry Sanderson, Lorenzo Semple, J. C. Harvey. C. B. Fox, N. A.
McMillan. W. IC. Blxby and Elisha Walker. N. Y. office, 61 Broadway.
— (V. 106, p. 822, 929, 2114, 2123; V. 107, p. 402; V. 108, p. 1165.)
A NEWPORT & SHERMAN’ S VALLEY RR-— Newport to Now G er
mantown, Pa., 31 miles. Stock, authorized. $180,000; outstanding June 30
1916, $165,100; par. $50. Bonds. $125,000 1st 20-year 5s due July 1 1911;
S1.6(Jo 2d 25-year 4s dua Apr. I 1921 and $73,400 Ref. M . 30-yoar 5s duo
19.^8 ($250,000 auth. Issue ; lnt. J. St J. at Real Estate Trust C o., trustee;
denominations $100 and $500). For yoar ending June 30 1916. gross, $43,
390; net. $14,160; lnt., taxiw, &c., $14,311; bal.. def.. $151. Pres, and
Gen. M gr., David Grlng. Offlco, Newport, Pa.
NEW Y O R K BAY RR.— Owns from Keamoy Junction, N. .I., to
Waverly, and from Waverly to tho bulkhead lino at Greenville piers, on
Now York Bay, 10.94 miles, with branches, 2.43 miles; total, 13.37 milM.
Stock, $6,000,000, all owned by l’onn. RR. Mortgages payable Dec. 31
1917, $260,000. Of tho $5,201,000 1st M . 4s. $960,000 woro owned by
tho Penn. R R . on Dec. 31 1918.— (V. 86. p. 920, 982.)
★ NEW YORK BROOKLYN & MANHATTAN BEACH RY.— Owns from
Fresh Pond Junction to Manhattan Beach (Coney Island), and branoh to
Bay Ridge 13 miles. Leased for 99 years from May 1 1882 to the Long
Island RR. Co., which owns majority of stock. Rental, Interest on bonds
and 5% on pref. stock. Common stock, $350,000. L. I. RR. has at
tached to the bonds its unconditional guaranty of principal and Interest In
addition to facts as to lease. In Jan. 1919 tho L. I. R R . Co. had agreed to
the uso of the line from Nostrand Ave. to Manhattan Beach as part of the
Dual Rapid Transit system for operation by tho Interborough Rapid
Transit Co., provided other necessary details can bo arranged., V .108,p.379.
— (V. 83, p. 1348; V. 106, p. 818.)
★ (THE) NEW YORK CENTRAL RAILROAD.— (Sec Maps pp. 88 ahd
89.)— Owns In fee direct lino from New York to Chicago, 953* miles (four
tracks N. Y . to Buffalo, thence two tracks), and nuniorous branches, the
total mileage owned Dec. 31 1917 aggregating 3,703 miles. Also owns stock
control of the West Shore R R . (leased). N. Y. to Buffalo and thence to
Chicago, via Michigan Central ItR. and Canada So. R y, By similar
control of the Pittsburgh & Lake Erie R R . tho Cleveland Cincinnati Chicago
Sc St. Louis R y.and other companies, has close running connection to Pitts
burgh, Columbus, Cincinnati, Indianapolis, St. Louis, &c. Total system
owned, controlled, &c.. Doc. 31 1917 about 12.666 mllos. viz.:
(1) Operated Directly. 6.079 Miles of Road.
Lines Owned—
Miles. Beech Creek U R .*..................... 164
New York to Chicago-------------- 953 Beech Creek Exten. R R ., & c.*. 135
32
Branches____________________ 2,750 Walklll Valloy...........- ................
L in e s L ea sed , etc. ( C o n c l. ) — M i le s .
Lines Leased, etc. (*Seo this co .)— _
71
West Shore*_________________ 479 Mahoning Coal R R *-------------65
Troy St Greonbush*__________
6 Detroit Hillsdale St S W *------98
New York St Harlem*________ 136 Fort Wayne & Jackson*______
88
New Jersey Junction*-----------6 Lake Erio Alliance St Wheoling.
22
Dotrolt Toledo St Milwaukee.47 Krlo St Kalamazoo It It-----------Kalamazoo A. & G. R -----------58 Trackage rights, & c,------------- 456
St. Lawrence & Adirondack*_
56
Total In earnings Doc 31 *17-57635
Ottawa St New York______ ___
57
L e a s e d — O p era ted se p a r a te ly —
Battle Creek & Sturgis________
7 Boston & Albany system--------- 393
Controlled— Operated Separately—6,588 Miles of Road
90
Michigan Contral*____________1,862 Zanesville St Western-------------Lake Erie & Western*________ 900 Indiana llarb. Bolt (V. 93.P.164) 116
Olev. CIn. Chic. & St. L. 8yst-*2.387 Toronto Hamilton St Buffalo__ 104
Cincinnati Northern*_________ 246
Total opor. separately_____6,688
Pitts. & Lake Erie System*------ 225
Chicago Kalamazoo St Saginaw 45
Toledo St Ohio Central------------ 436 Grand total Dec. 1917, less 219
mllos duplicated about____12,413
Kanawha St M ichigan----------- 177
ORGANIZATION.— Tho Now York Central RR. Co. was formed by
consolidation, effectlvo Dec. 23 1914. under laws of N. Y ., Penna.. Ohio,
Ind., Mich, and III., of tho N. Y. Central & Hudson Rivor RR. (as enlarged
In 1913 by the absorption of Rome VVatortown & Ogdonsburg and other
New York branch lines; see bond table above) and Its leading Western sub
sidiary, the Lake Shoro & Mich. So. R y., and 9 minor controlled properties.
See V. 96, p. 1425; V. 98, p. 387, 1393; V. 100, p. 110.
In 1916 sold Its controlling Intorost In tho stock of tho N . Y . Chicago &
St. Louis BR. to Cleveland Interests. V. 104, p. 1598. Entire stock
Clearfield Bituminous Coal Co. Is owned. V. 103, p. 1794.
In 1917 a subsidiary, the Hudson River Connecting RR., received au
thority to build a bridgo across tho Hudson Rivor 11 miles south of Albany
See that company abovo. Cleveland terminal, V. 106, p. 1231. I roposed
new Niagara River bridgo, V. 106. p. 1689, 2011, Court decision respect
ing Toledo & Ohio Contral, & c.,'V . 105, p. 819, 998.
A pr . 1919.]
★ Control.
Government
RAILWAY STOCKS AND BONDS
RAILROAD COMPANIES
[For abbreviations. A c., see nobs on first vaoe]
M iles
Road
Now York Central RR (Concluded)—
(3)
Outer New York Central A Hudson River RR
A ssu m
Debentures (V 69. p 1102; V 71. p 502. 964)......... 3
All
Consol
mortfiraece_______________
All
’Hno
(r Dl'lr
I>I— 1n|. A-f
______ « I"*"" %p *z
150
57
Date
B on d s
Par
Value
A m ount
O utstanding
R ate
%
W h en
P a ya b le
APrlvate
Control.
L a st D ividen d
a nd M a tu r ity
87
Places Where Interest and
Dividends are Payable
Issu e s —
1900 1 bond S5.500.00C
3 K g J A J July 1 2000
Grand Central Term.N Y
1874
$1,000
9.576,00C 5 A 3 K A A O July 1 1922
do
do
1874
1,000
419.00C
4
A A O July 1 1922
do
do
1890
1,000
1.950.00C
4 e J A J July 1 1922
do
do
1887
1.000
1.200.00C
A A O Oct 1 1927
5g
do
do
5 7 1894
1.000
3,987,000
4g
A A O Oct 1 1993
do
do
182 1892
1.000
2,500.000
4g
M
S Sept 1 1991
do
do
182 1902 1,000 Ac
3,900.000
3 K S M & 8 Mar 1 2002
do
do
46 1892
1 .0 0 0
1.100.000
4 g J A D Dec 1 1981
do
do
Carth Water A Sack liar 1st M g gu p &"l (end) .l x
29 1891
1,000
300,000
J A J July 1 1931
5s
do
do
13 1892
1.000
300.000
5 g J A D June 1 1942
do
do
1902
250.000
3
J A J July 1 1932
Am Exch Nat Bk. N Y
(4) Bonds o f Other Companies Included in
of Jan and M ar 1915
Indiana Illinois A Iowa 1st M gold_____ ___ IC.xc*
203 1901
1.000 4,850,000
4 g J A J July 1 1950
Ohlc Ind & South consol M gold______ '(1 xc*Ar
337 1906 1.000 Ac 15.150,000
4 g J A J Jan 1 1956
Kalamazoo A White Pigeon 1st M assum___Un.xc
37 1890
1,000
400,000
5
J A J Jan 1 1940
do
do
Pino Creok 1st M gu prin and int endorsed.
r
76 1885
1,000 3,500.000
6
J A I) Dec 1 1932
do
do
Sturgis Goshen A St Louis 1st M gold p & 1 guar" z
29 1889
1,000
322,000
3 g J A D Deo 1 1989
Jamestown Franklin A Clearfield—
1st M $25,000,000 auth guar_________ G.xo’ Ar*
_ 1909 1,000 Ac 11,000.000 4 g J A D June 11959
Olovoland Short Lino Ry 1st M gold guar_.a.xc*Ar
—
1911 1.000 Ac 11,800,000
4 K g A A O Apr 11961
'
do
do and Bond
Lake E r i e & Pittsburgh— see that company—
(5) Note, &c,, Issues—
Equip trust (B A A) $500,000 due y r ly „ 0 -z c * A r
. . . 1912 l.OOOAc 4,500,000
4 K g A A O Yrly to Oct '27
Equip tr $570,000 yrly duo Jan 1_______ G.yc*Ar
—
1917 l.OOOAc p l4 ,521,000
4 K g J A J Jan 1920 to ’32
Oollat demand notes duo U S Govt (V 106 n 1901)
__ 1918
Seo te x t
M
6
N
Collateral loan from Central Trust Co extended
1918
6,000,000
6
May 1919
Collateral noto Issue $15,000,000 g o ld ......... Y f.c
1917 1,000 Ac 15.000,000
5
g
Sept 15 1919
M
A
S
15
Kalamazoo Allegan A Or Rapids—See tnls company
Erie & Kalamazoo—Soo that company.
e d .A c
P Of 515,010,000 Issued to Oct. 31 1918. $634,000 m atured Jan. 1 1918, lea vlng $14.40 6,000, of which $6
,748,000 are ow
Partial List of Stock Holdings and Dividends Received Thereon for 1917.
---- Amounts Owned
Total Outstanding---- JDivs. 1917
Pref. Stks. Com. Stk.
Pref. Stks.
Com. Stk. to N .Y .C
Mich. Central ............. $16,819,300
None $18,738,000 $672.7
Pitts. & L. E .................
17,993.100
None 35.985.000 1,799,310
M ah.CoalR lt. 399,500
865,900
661.367
1,500,000
452,925
O .O .O .A St.L - ______ 30.207,700 10.000,000 47.056.300
Lake E. A W .5,930.000
5,940,000 11,840.000 11.840.000
Tol. & Ohio 0.3,701.400
5,846,300
3,708.000
6.500,000
N. Y . & H a r.. 1,143,700
5,486,550
1.343,950
8.656,000
689,546
Reading fist pf6.065.0001 9,852,500 28.000.
0 0 0 ( 70,000.000
1,601,400
Co. . t2dpri4.265.000J
42.000.
000 ( ■
N.Y.StateRys.
600 13,604,300
3.862,500 19.952.400
601,254
Moh. Val. Co. ...........
5.114.300
None
7.500.000
306.858
Also stock o f West Shore, Ac. See "Stocks Pledged "
The Now York State Railways Co. (see “ Electric Railway Soction") Is
the company s trolley ally
Compare V. 1 0 0 , p 3 9 9 4 7 5 .
STOCK.— Dividends on stock reg1st. In London are nav i t ao uh tr, «
The authorized amount of the capital stock is 5400 000*000
w h irl
on Jan. 1 1918 $249,819,360 was outstanding, S100 000 000 Is reserved fnr
conversion of debentures of 1915. The Ohio P
u
i
n
o t t e S
v ' l f f i S a p p l i c a t i o n to Isuso .M.219.070“ ddittora!
mortgaged properties, to the respective prior lions of the several underlying
mortgages thereon shown In table above. See “ Finances” below as to
pledge of $20,000,000 bonds In 1917 to secure notes.
Bonds for Retirement of which Ref. A Impt. Mortgage Bonds were Reserved.
,st M . o f 1897, due 1997---------------------------------------------------- $100,000 000
Consolidation Mtge. (see above) dated 1913, due 1998______ 167.102.400
17 divisional Issues of N. Y. Cent. & Hud. River R R ................. 29,509.006
lid bonds of Lake Shore and other cos. absorbod In 1914-15
197.002.000
Convertible 6% 20-Year Bond Issue of $100,000,000 Dated May 11915.
e?e. bonds are convertible into stock at the rate of $ 1 0 0 of stock for
$105 of bonds, between M ay l 1917 and May 1 1925. They may be called
tor redemption on any interest date at 1 1 0 and lnt. upon 90 days' notice
out, ir so called, they may be converted into stock up to 30 days prior to
8no°ftnJ>redSmp.t.,^ n' t !eS,?rn c * ^{OOO; r* $ 1 0 0 . $500, $ 1 ,0 0 0 , $5,000 and
•jOOJJOO. See General Finances below and V. 100.
tnn p.
- 556.
e -° 643. 593-4.
*13. 902, 1349. 1438. 1833; V. 102, p. 1443.
OLD BONDS OF N. Y . CENTRAL & HUDSON RIVER R R .— Firsi
"Mortgage Is for $ 1 0 0 ,0 0 0 ,0 0 0 , covering the original road owned, and, by
fundamental deed. 930 miles of Haas (Rome Watertown & Ogdeos0 UI& „ l£?r•, merged ln 1913V. 77, p.452; V. 8 6 , p. 1043. 1101; V. 8 8 .
p. 506; V. 94. p. 208; V. 96, p. 1424.
’
Collateral trust 3K s of 1898 were secured by deposit of stock of the Lake
•
* Mich. Sou. and Mich. Central RRs., respectively, at the rate of
$100 of L. S. A M . 8 . stock for each $200 of bonds and $100 or Mich. Cent,
$8 ,0 0 0 ,0 0 0 2 0 -yoar 6 % convertible bonds. V. 84 D. 52 W Y V n m
stock for each $115 o f bonds. The Lake Shore collateral 3 ^ s (75%)
OI VS.
1 '07. -08. -09. TO. 11. T2-T5. To
Pi 7 iq ix V' 8 9 f<{Vo411,
exchanged for Consolidation Mortgago 4s, Series A, are a direct (third) mtge
P erc’n t . . / 6
5K 5 5K 5 K 6 yrly.
5
5 ' ^ l8 '
on the former Lake Shore & Mich. So. R y., Detroit Monroe & Toledo RR
Northern Central Mich. R R ., Kalamazoo & White Pigeon R R . and Swan
Creek Ry. of Toledo. Seo the “ Consolidation Mortgage” above. V 96
P-,},t 2 4 \Y- G6 .P . 336, 811; V. 1 0 2 , p. 522; V. 100, p. 556, 2085; V. 101,p.288!
1ho New York Central Railroad Co. has duly made an Indenture
for Consolidation Mtgo. Series A Is. See below ?
d
to secure the payment of (a) the 3 H % gold bonds. Lake Shore Col
(6 ) N . Y . Cent. 3K % Mich. Cent. coll, bonds of 18081008
in
non lateral and (0 ) by secondary lien thereundor so many of the 4 Yi Consolida
(2) Equally by
Lien Subsequent to Lien o f Aforesaid—
98- 19.336,000
tion Mortgago Gold Bonds, Series A. as may be Issued to pay and retire
. ) N . Y . Cent, debentures o f 1904, duo 1934 '
« sq non non an equal amount of 314% gold bonds, Lake Shore collateral (tho two Issues
(e)
(d) N . Y. Cent, debentures o f 1912, duo 1042
...................— .o ia s n n n
aggregating $90,578,400) ,by a lien upon the rail roads,Ac., formerly owned by
(e) 4% Consolidation Mtgo. bonds dated. A u g 'T 1 913*and"due 9,188,00H the Lake Shore, and also on tho property of its four former subsidiaries
Fob. 1 1998. Issuable in series A . B. O and 1) on v to rebirnf
M °nroe A Tol. R R . Co., Nor. Central Mich. RR. C o.. Kal. A
above collateral bonds and debentures, respectively 1 Seohelow
White Pigeon RR. Co. and Swan Creek Ry. of T ol., such lien following the
The Consolidation Mortgage (securing the collateral ?ssi,ns ^nrl nth,.& £ r r°n, o fi ^ k 0 Shore A Mich. So. 1st M . 3H s of 1897 and the $100.
bonds In tho order Indlcatod above) covers bv 11 r S i ) r , i a,n i,? K c
000,000 Lake Shore debenture (now mortgage) bonds of 1903 and 1906.
fund. A Impt. Mtg. (see below), theUnas^Jwned in?Q
LAKE SHORE A M ICH. SOUTHERN BONDS.— The N. Y. Central
brought In by consolidation or m e rg e r )75% n 71m
RR. by supplemental indenture (dated Jan. 1 1915) assumed the obligaHudson Elver Bridge Co. at Albany ami the iL sm
l
SL°
Now York & Harlem. West Shore and Beech C r e e K lr o a d ^ On thn ^um tl(>M ofth e $5 0 ,0 0 0 ,0 0 0 3 y$% 1st M . of 1897 (see V. 64, p. 1182). and has
extended the lien of that mortgage over the railroads, A c., formerly
lino between Now York and Buffalo there Is no llenahead nf
owned by Det. Monroe A Toledo RR Co., Northern Central Mich. R R .
Oo., Kal. A White Pigeon RR. Co. and Swan Creek Ry. Co. of Toledo, and
Ac there are no prior n o n s ^ e n t t f
Mohawk & Malone, It has also executed a supplemental Indenture dated Jan. 2 1915, assuming
and the N. Y. C e n ta l’s $100 .OOO^OOfMstM. “ "v f ^ 2 ? p.™ oo",*1541tfloroof the obligations of the mortgage dated July 1 1914, securing the 25-year
1% gold hoods of 1903 and 1906, aggregating $100,000,000 (two issues
$50,000,000 each), and extending the Uen thereof to said add'l properties. ’
TbeUpurpoRo^f the^tefundina a!!)?7 C" p‘ t,nl *nd Debt Unification,
financing o^t ho^NY Cent W S d »F pt Mtge. waa to provide for future
EQUIPMENT BONDS.— See “ N. Y. Central Lines" below.
and for V e unification of the rinhe1,
yer and the consolidated company,
B.
A A. equipment trust, seo V. 95, p. 1040. 1332, 1403: V. 98. d . 1072
Equip. Trust of 1917. V. 105, p. 1209; V. 106, p. 396; V. 101, p. 2235
due Oct?1*2013T b it b t S l f f d % f Andi'To VoT ' i Z ^ S ' i 11
1598. In Mar. 1919 $2,666,000 of this last issue had matured or been
subject to call a^2uch dat«aamTnJ'11 “ V " r7»S?IntSSt at sucll'rat^ canceled; $2,808,000 was still unissued; $14,521,000 were outstanding
including $7,410,000 sold that month, along with $7,800,000 Michigan
Central and *2,133,000 “ Big Four” Equipment Trust 6 s. V. 108, p. 973.
undlf tVheR i(Pand2Imp. M
In^ho mortgage Itself and th o m ^ to ^ 13 determined bv standards set up
“ ADVANCES” AND “ STAN D AR D R E T U R N ," Ac.— See page 5.
honrthol<1erKwfd bo lndlfferenti^ (t n / i ar<ls are bolievod to bo such that a
Annual compensation as fixed by Govt, contract (V. 108. p. 79), New
outstanding under the mortem^ 1 M?0 amount o f bonds which may bo
with1 The a m o M to f Ref f t J x fn? as tho standards ore compiled York Central proper, $55,802,630. Subsidiaries, viz., Toledo A Ohio
three tlmm the amount of
*?• 'muds outstanding cannot exceed Central R y., $1,086,650; Zanesville A Western, def. $107,598; Kanawha A
A ft « $ 5 0 o“
o of
time hicTeased^ Michigan, $1,295,141; Kanawha A West Virginia, $45,260; total, $58,
12i2i,084 •
The total compensation aggregates $87,629,534 when the’subsidiaries
f<?r^romt t\mCpro«edsdo ? )bomAn,;SN* t *
v
P^dd (separately
operated) shown below are included, viz.: $9,915,738 for Clev
of bonds c a n bo used In the aennum m o r 0 t h a 0 one-third o f the amount
nnr i™ Af,U
ApDlitm nnn fww nfCi?u s tlon o f bonds or stocks or otner com- Cin. Chic. A St. L. RR. and Muncle Belt R R .; $8,980,219 for Pittsburgh A
Lake Erie RR .; $317,628 for Cincinnati Northern RR.; $296,053 for Indiana
C c U i * n b e S w i t h ® t h ^ o ^ o ^ o c k h o W ^ 0 ‘ T ach lS,°ua of h o 0?'
Harbor Belt RR.; $8,105,727 for Chicago Kalamazoo A Saginaw R R . and
Michigan Central; $1,548,541 for Lake Erie A Western; $127,031 for Lake
{“ W U ^ f 6a $ " 2 4 S ° 1-m -Cvm m h lons and P 8? C o m m o n s . V (l '
$*. 104, p. i387; V.'106, p? 2757
P' 1052VM7'' V- 100. p. 1079; Erie A Eastern R R ., and $186,460 for Detroit Terminal R R .
FINANCES.— U. S. R R . Admin. Jan. 1 1919 had advanced funds as
follows;
Made on—
N.Y.Cent. Pitts.AL.E. Mich.Cent.C.C.C.ASt L. Oth Cos
Rental account--$30,400,000 $1,400,000 $3,050,000 $2,650,000 $120 000
N
otes-------------20.000.000
700.000 7.050,000 5,300.000
bond, ol f C b m
Tb s
OoUol° S J S W S Z
The other company advances on rental account Included L. E. A W
c reet IC(tiuLsIon HR. C T m p .X * 3 ® - ^ I t e f o ? - ? ' ^
$70,000, and K. A M . R y., $50,000. In Alar. 1919 the War Finance Corp.
had agreed to advance the system $20,500,000. V. 103, p. 973.
Venner suit, V. 108, p. 1275.
& a
m x ii g s a s i
The $10,000,000 I K % notes, due May 1 1918, were paid from 6 % loan
S i E S K i b r : : ; ; ........... ‘ 2 - « § a
................. ‘ 2 « :SiS
for $13,000,000 obtained from U. S. Govt. V. 106, p. 1901. In May 1918
New Jersey Junction R R ____ : : : : : : : : 5,ioo.'ooo : : : : : : : : 5,i1oo.’ooo also borrowed $6,000,000 from Central Trust Co. at 6 % for use with other
funds in taking up $6,000,000 notes of Michigan Central RR
This bank
Tl|n Refunding & Impt. Mtge. Is also a lien upon the properties described loan as extended matures in May 1919. V. 106, p. 2123; V. 107, p. 1920.
In tho supplemental indenture (dated Juno 15 1915) assuming as aiithm i.*}
In Sept. 1917 in order to provide $5,500,000 for additions and better
by tho shareholders, the o b lig a tio n o fth e 'Ret & C
ments and $9,500,000 for the discharge of outstanding Indebtedness, com
tt‘« lion thereof over the^former K ^ h ^ W
. Ms W o “h f f i
pany sold $15,000,000 5% notes due Sept. 15 1919, secured by pledsre of
Ind. & So. R R .. Geneva Corning & So. R R ., Dunkirk Alleg. VaL & PRt,
$20,000,000 4>4% Ref. A Impt. bonds. V. 105, n. 910, 1209/
Company’s real estate holdings In N. Y. City. V. 106, p. 607.
and
tbo other properties included In tho consolidation of 1 91 4
In June 1918 there had been no cases where dividends of lessor companies
i)Vi>1i)^ l'uf?,r,.rVi0r/.Loveland Short Lino Ry., Jamestown Franklin &
Clearfield R R ., Sturgis Goshen A St. Louis Ry. and Elkhart & Western had been reduced as a result o f war taxes. V. 106, p. 2757.
R R ., acquired by conveyances In 1915 (see "Organization” above). T to
EARNINGS.—
12 m os..(1918----- Gross. $291,691,313; net. $62,287,609
Uen created by this supplemental mortgage Is subject, as to parts of the
Jan. 1 to Dec. 31.
11917----- Gross, 238,829,800: net, 68,287.671
★ Control.
Government
90
lF o r
RAILWAY STOCKS AND BONDS
R A IL R O A D C O M P A N IE S
a b b r e v ia tio n s , A c . , s e e n o te s o n f i r s t
page1
M ile s
R oad
D a le
B onds
Par
V a lu e
Amount
O u tsta n d in g
R a te
%
N e w Y o r k C e n t r a l L in e s (In cl v a r io u s a s s o c ia t e d c o s ) —
5 g
1 9 0 7 $ 1 . 0 0 0 & o $ 8 , 0 0 0 ,0 0 0
J o i n t e q t r g $ 2 , 0 0 0 , 0 0 0 a n ( V 8 6 , p 0 2 0 ) . _ G , z o * Asr
1 ,0 0 0 & o 1 2 . 0 0 0 .0 0 0
1910
4 K g
•d o
do
5 2 . 0 0 0 , 0 0 0 a n ( V 9 0 , p 9 1 4 ) - - G . z o * Asr
8 . 0 0 0 ,0 0 0
1 ,0 0 0 * o
1912
do
do
d u e $ 1 , 0 0 0 , 0 0 0 y e a r l y ___________G z o * A s r
4H g
1 ,0 0 0 & c 1 4 , 4 0 0 . 0 0 0
1913
do
do
d u e $ 1 , 6 0 0 , 0 0 0 y o a r l y ___________G . z c * « f c r
4 K g
100 1 3 ,9 8 9 .6 0 0
N e w Y o r k C h ic a g o & S t L o u is — C o m m o n s to c k —
100 1 0 ,9 9 9 .8 9 0
5
S e c o n d p re fe rre d s to c k (5 % n o n -c u m u la t lv e ). .
1 00
4 .9 9 7 ,9 0 0
F i r s t p r e f e r r e d ( 5 % n o n - c u m u l a t l v e ) ____________
505 1887
1 ,0 0 0 1 8 , 3 5 0 . 0 0 0
4 g
F i r s t m o r t g a g e g o l d ( c l o s e d ) _________________C o . x c * A c r
0 g
505 1918
500 & c
4 ,1 3 5 ,0 0 0
2 d & I m p t M t g o $ 2 5 ,0 0 0 ,0 0 0 g S o r A _ _ C lC l .x .x x k c *
4 g
D o b e n t u r o b o n d s g o l d s e c b y 2 d M t g e ____G . x c * & r *
1 ,0 0 0 1 0 . 0 0 0 .0 0 0
1906
8 8 0 000
1916
1 .0 0 0
K q p s o f ’ 16 $ 1 ,1 0 0 ,0 0 0 d u e $ 1 1 0 ,0 0 0 e a c h A u g l Q . c *
4 K 8
1 ,0 0 0
2 4 0 .0 0 0
4M
E q u i p m e n t t r u s t s d u e $ 3 0 , 0 0 0 y r l y O c t 1 _________G
1916
3 .8 0 0 .0 0 0
5
do
do
s i n k f d r e d 1 0 1 Sc i n t _______________ x x c *
1917
1 ,0 0 0
1 9 1 3 1 , 0 0 0 See 2 4 . 0 0 0 . 0 0 0
N Y C o n n R R — 1st M g re d 105 b e g A u g ’ l 8 - G .y c * & r *
4 'A e
1 ,5 0 0 ,0 0 0
6
O n e - y e a r n o t e s I s s u e d in N o v 1 9 1 7 e x t e n d e d . .
1917
54 1896
1 .4 7 1 ,9 0 0
5
N Y & G r e e n w L a k e — P r i o r l i e n M g u p Ac l . N . g x c *
1 0 0 Sec
8 ,6 5 6 ,0 5 0 14 In i 9 1 8
146
50
N e w Y o rk & H a r le m — C o m m o n 1 4 % . 1 0 % g u a r a n te e d
1 ,3 4 3 ,9 5 0 1 4 In 1 9 1 8
50
P r e f e r r e d e t o o k 1 4 % , 1 0 % g u a r a n t e e d __________
146
R e f . m t g e ( n o w f ir s t ) $ 1 2 , 0 0 0 , 0 0 0 g u a r . . G .x o * A s r
136 1900
1 ,0 0 0 te a 1 2 , 0 0 0 ,0 0 0
3H K
5
214
1 0 0 1 0 , 0 0 0 ,0 0 0
N Y L a c k a w a n n a & W e s t e r n — S t o c k g u a r l| 5 % - - ( e n d )
1 2 , 0 0 0 .0 0 0
F i r s t m t g e g u a r b y D e l L a o k & W e s t e r n ________ F . x o *
214
1880
1 ,0 0 0
6
5 ,0 0 0 ,0 0 0
C o n s t r u c t i o n m t g e g u a r b y D t , As W ( e n d ) ____F . x o *
214 1883
1 ,0 0 0
6
5 .0 0 0 .0 0 0
T h ir d M T e r r a I m p ($ 5 ,0 0 0 ,0 0 0 ) g u a r p & I (e n d ) .F .x
214 1890
1 .0 0 0
4
N o w Y o r k L a k e B r io & W e s t e r n — S e e E r ie R R
2 ,5 0 0 , 0 0 0 4 e & 5
N V & L o n g B r — G e n M (n o w 1 st) $ 2 ,5 0 0 ,0 0 0 g - . C o . o *
1 ,0 0 0
3 8 1891
1 0 C 1 5 7 .1 1 7 .9 0 C
N e w Y o r k N e w H a v e n & H a r t f o r d — S t o o k (s e e t e x t ) .
P r e f. a & d s t o c k 7 % c u m $ 4 5 ,0 0 0 ,0 0 0 c a ll 1 1 0 ..
100
9 .9 9 1 . 0 0 0 3 H
D e b e n tu r e s ( $ 5 ,0 0 0 ,0 0 0 a r e 4 s) n o n c o n v e r t . . z o & r
1 .0 0 0
4
9 .9 9 7 .9 0 C
1904
6 0 0 Aso
3K
D e b e n t u r e s ( f o r F H As W ) ( V 7 8 . p 2 3 3 5 ) ...................x
4
D e b e n t u r e s ( f o r N Y O & W ) ( V 8 0 . p 2 4 5 8 ) . z o * Asr
1 5 .0 0 0 .0 0 tl
1905
1 .0 0 1
D e b e n t u r e s c o n v e r t i b l e ( s e e t e x t ) _________________ x o ’ Asr
8 .9 1 3 ,3 5 (1
3W
1 0 0 SeO
1906
D e b e n t u r e s n o t c o n v e r t i b l e _______________________________ z
1 5 .0 0 0 .0 0 (1
4
1906
fr e s & $
1907
2 7 ,5 8 2 ,6 9 1
E u r o p e a n l o a n ( $ 2 0 , 0 0 0 , 0 0 0 ) ____________________________ x
4 g
D e b e n t u r e s $ 3 9 , 0 2 9 , 6 0 0 g o l d c o n v ( t e x t ) -------- z o * A s r
6 s
1908
1 0 0 Sec 3 8 .5 4 1 .2 0 C
D e b s N . I I . s t a t io n d u o $ 1 0 0 ,0 0 0 y l y ( V . 1 0 6 , p . 1 6 7 5 )
1916
6 0 0 .0 0 C
5 g
N o t o s t o ' U S G o v c a l l ( U S p a r , o t h e r s 1 0 2 ) ___
1 ,0 0 0 S ec 4 3 .9 6 L 00C
1918
6
N Y P r & B o s t g e n M (n o w 1 st) g a s s . $ 4 .0 0 0 ,0 0 0 z c * r
l.OOC
1 .0 0 0 .0 0 1 ;
4 g
62| 1 8 9 2
87
F lo u s a t o n lo c o n M ( $ 3 ,0 0 0 ,0 0 0 ) g (a s s u m e d ) . F z c *
1887
2 . 8 3 9 ,0 0 ( 1
5 g
1 ,0 0 0
1 000
r' C
N E n g c o n s ( n o w l s f .i M 8 1 7 , 5 0 0 , 0 0 0 5 s g g u . B a . a o *
1895
1 7 .5 0 0 .0 0 0
or. E v ch .
II R e g i s . I n t . o n 1 s t M . 4 s a n d d o b . a t T r e a s . O f f i c e , C l o v o l a n d .
ft
Se
R E P O R T .— F o r y e a r e n d in g D e c . 31 1 9 1 7 , V , 1 0 6 . p . 2 0 0 2 , 2 0 1 6 .
C a len d a r Y e a r s (A l l $ ) —
1917.
1916 ,
1915.
O p e r a t i n g r e v e n u e s _________________________ 2 1 6 , 2 6 7 , 5 1 7 2 0 1 , 5 8 5 0 4 8 1 6 7 . 9 1 2 , 3 3 3
O p e r a t i n g e x p e n s e s , t a x e s , & c _________ 1 6 4 , 8 5 7 , 1 9 5 1 3 8 ,2 4 1 ■ 031 1 1 7 , 7 3 1 . 8 7 6
O p e r a t i n g i n c o m o _________________________ 5 1 , 4 1 0 . 3 2 2
R e n t s , & c . , r e c e i v e d ________
4 ,6 9 0 ,6 8 0
S e p a r a t e l y o p e r a t e d p r o p e r t i e s _________
6 2 6 .8 0 8
D i v i d e n d i n c o m e ____________________________
7 ,4 6 4 ,9 9 4
I n c o m e f r o m f u n d e d s e c u r i t i e s _________
4 7 0 .7 1 6
I n c o m o f r o m u n f u n d e d s e c u r i t i e s , & c . ___________
2 ,2 0 9 .5 _
06
6 3 ,3 4 4
4 ,4 0 0
4 ,3 5 0
1 1 ,0 9 9
476
2 ,2 3 5
,0 1 7
.6 6 5
.7 8 7
697
467
812
5 0 .1 8 0 .1 5 7
4 .0 6 9 .0 2 0
1 .8 7 5 .6 0 8
6 ,9 6 1 ,5 1 6
6 8 0 .8 9 3
2 .9 6 9 ,1 3 2
G r o s s i n c o m o _____________________________ 6 6 . 8 7 3 . 0 2 6
I T ir o o f e q u i p m e n t _________________________
2 ,4 8 0 .4 5 2
2 ,5 8 4 .6 8 8
M i s c e l l a n e o u s _______________________________
R e n t f o r l e a s e d r o a d s _____________________
6 ,4 0 2 ,3 5 0
I n t e r e s t o n f u n d e d d o b t __________________ 2 9 , 0 9 9 , 0 7 2
I n t e r e s t o n u n f u n d e d d e b t _______________
7 6 2 ,8 0 7
E q u i p m e n t d e p r e c i a t i o n a c c o u n t _____
____________
D i v i d e n d s p a i d ( 5 % ) ......................................... 1 2 , 4 7 9 . 6 0 3
8 5 ,9 6 7
2 ,2 0 0
2 ,2 6 4
6 ,3 5 4
2 8 ,8 7 1
017
2 ,5 0 0
1 2 ,4 6 6
.4 4 6
,6 5 2
661
581
300
036
,0 0 0
611
6 6 .8 0 9 ,3 2 9
C r .7 2 ,7 0 2
2 ,1 8 8 ,3 6 3
6 ,2 7 0 ,6 4 8
2 7 ,0 7 3 .0 9 7
3 ,5 6 5 ,7 4 7
1 2 ,4 6 6 * 4 8 4
B a l a n c e , s u r p l u s ___________________
1 3 .0 0 4 ,0 5 4 3 0 ,6 9 2 .6 0 0 1 5 .2 4 4 ,9 9 0
O F F I C E R S .— P r o s ., W . K . V a n d o r b ilt J r .; C h a ir m a n , O h a u n c o y M .
D e p o w ; V ic o - P r o s id o n t s ,. J o h n O a r s t o n s o n , I r a A . P la c e , A . I I . H a r r is ;
T r e a s . , M . S . B a r g e r ; S e c . , D w i g h t \V. P a r d e o .
D ir e c to r s : W m . K . V a n
d e r b ilt , F . W . V a n d e r b ilt , O . M . D e p o w , H a r o ld S . V a n d o r b ilt, W illia m
R o c k e fe lle r , G e o . F . B a k e r , W . K . V a n d e r b ilt J r ., O g d e n M ills , R . S .
L o v e tt, C arl S . G ra y , E d w a rd S . H ark n css, S am uel M a th e r a n d F ra n k J.
Jerom e.
F e d e r a l M g r . , P . E . C r o w l e y , N . Y . C i t y . — ( V . 1 0 8 , p . 1 0 6 1 , 1 2 7 5 , 1 5 1 2 .)
N E W Y O R K C E N T R A L L I N E S .— T h e N . Y . C e n t r a l L in e s e q u ip ,
t r u s t s c o v e r e n g i n e s , p a s s e n g e r c a r s a n d f r e ig h t c a r s U 3ed b y v a r i o u s l i n o s
o f th e s y s t e m , w h ic h J o in tly a n d s e v e r a lly a g r e o t o p a y p r ln . a n d I n t ., t h e
la r g e r p a r t b e in g f o r N . Y . C e n t r a l.
V . 99, p . 1598; V . 102, p . 3 4 5 ; V . 103.
p . 1792, 1981; V . 104. p . 362.
★ NEW
Y O R K
C H IC A O O & S T .
L O U I S R R .— O w n s fr o m B u ffa lo
N . Y . , t o I llin o is S t a t e lin e , e x c e p t 8 m llo 3 le a s e d b e t w o e n D u n k i r k a n d
S ilv e r C r e e k , le a v in g 4 9 5 m ile s ; le a s e s t h e p r o p r i e t a r y lin o , C h i c a g o &
S t a t e L in e R R . , I llin o is S t a t e lin o t o 7 1 s t S t ., C h ic a g o , 10 m ile s ; a ls o lo a s o i
D u n k i r k t o S l i v e r C r o e k , 8 m i l e s ; t o t a l , 5 1 3 m i l e s ; t r a c k a g e In B u f f a l o .
N . Y . , 2 m i l e s , a n d 7 1 s t S t . , C h i c a g o , III. ( L a k e S h o r o R R . ) , 8 m l l o s .
N ic k e l P la to C o n n . R R . (4 m ile s p r o je c t e d a t B u f f a lo ) , V . 1 0 5 , p . 8 1 9 .
" A D V A N C E S ” A N D “ S T A N D A R D R E T U R N ,” & c — See p a g e 5.
I n M a r . 1 9 1 8 th o c o m p a n y h a d n o t y e t c o n c lu d e d a c o n t r a c t w it h th e
U . S . R R . A d m in is t r a t io n .
T h o s o -c a lle d “ s ta n d a r d r e t u r n ,” a s c e r t ifie d
b y t h o I . - S . C . C o m m i s s i o n , is 8 2 ,2 1 8 ,8 5 7 , in a d d i t i o n t o w h i c h n o n - o p e r a t
in g in c o m e in 1 9 1 8 a m o u n t e d t o a b o u t 8 2 5 ,0 0 0 , m a k in g t o t a l in c o m o o f
8 2 ,2 4 3 ,8 5 7 ; a g a in s t t h is t h e d e d u c t i o n s fo r fix e d c h a r g e s , w a r ta x e s a n d
c o r p . e x p e n s e s w o u ld b e 8 1 ,5 1 2 ,6 7 4 .
T h o fig u r e s s h o w n fo r 1 9 1 8 (s h o w n
b e lo w ) in c lu d e f o r p u r p o s e s o f c o m p a r is o n t h o r e s u lts o f o p e r a t io n u n d e r
F e d e r a l c o n t r o l a n d t h e in c o m e e x p e n s e s a n d c h a r g e s o f th e r a ilr o a d c o r
p o r a tio n . V . 108, p . 1061.
S T O O K . — I n J u ly 1 9 1 6 C le v e la n d in t e r e s t s b o u g h t t h o c o n t r o l o f t h o
p r o p e r t y fr o m t h o N e w Y o r k C e n t r a l R U . C o . , v i z .; $ 6 ,2 4 0 ,0 0 0 c o m m o n ,
$ 6
@FedFRASER