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iksta'
OF
THE
IH
»r*r
w■ i
■
■
Commercial & Financial Fhronicle.
;■■■! —wycea .xa
[Entered according to act of Congress, in the year 1880, by Wm. B. Dana. & Co., in the office
NEW
INVESTORS’
SUPPLEMENT
(jj^ommtraal # ^Financial (jj^ronwlt.
a
complete exhibit of the Funded Debt of
States and. Cities, and of the Stocks and Bonds of Railroads and other
Companies.
It is published
on
the last Saturday of every
other
month—viz., February, April, June, August, October and December.
It ie furnished
the CmtONrcLK.
without extra
charge to all regular subscribers of
Single copies are sold at $2 per copy.
WILLIAM
B.
DANA
79 cC 81
&
CO.,
Publishers,
William Street.
THE POLICY AND IMPOLICY OF SCRIP DIVL
DENDS.
-
"With the return of
general activity and, particularly, of
activity and increase in earnings, has come a
revival of the old practice of
making scrip dividends.
Rock
Island
and
Louisville & Nashville not long
ago declared 100 per cent each ; Chicago Burlington
& Quincy has declared 20 per cent, and
proposes another
66 2-3; other companies are also
considering the same
step. Not only as an independent question of railroad
policy, hut as respects its relation to the still-unsettled and
always-perplexing railroad problem, the practice is a
timely one to discuss.
railroad
These dividends
are
not
declared without motive and
meaning, that is sure. Railroad managers, at least in their
capacity as such, are not affected by the greenbacker
notion that property is increased by
multiplying the num¬
ber of titles to it.
Double the stock of
a
railroad, and
neither the
quantity nor the actual value of the property
is increased to the extent of a
single spike. The stock¬
holders owned the road before ; and when their stock has
been doubled they own it just the same,
having simply had
the denominator
as
well
as
the numerator of the fraction
expressing their respective shares doubled ; nothing has
been given them by the process, for
nothing has been
brought forward for division. This is the elementary way
the case presents itself to the outside
spectator; hence
arises the natural question, why are these issues
made, see¬
ing there is no value conferred or created by them ?
That there is and
be
enhancement of real value
almost axiomatic ; but that there
may be an enhance¬
ment of market value is possible.
A total of two hundred
thousand shares, representing a piece of railroad
can
no
is
property,
more in market
one hundred thousand that
represented the
it is because the speculative public—
property ; if so,
may possibly
than the old
same
and
even
the
be for the time being worth
investing public also—do
discrimination and
from
cesses
reason.
of the Librarian of
r i
a a—aacaci m as ■■ aa
Congress, Washington, D. C.1
YORK, DECEMBER 25, 1880.
OP THB
The Supplement contains
■——■■ ■
not always act with
So far is the stock market
being governed by exercise of the preliminary pro¬
of inquiring and reflecting, that
prices are sometimes
pushed
by reports—not infrequently set afloat for that
express purpose—that there is to be an increase of issues.
Hence merely speculative purposes
may supply one reason
for making scrip
dividends; otherwise, we can suggest only
two—the capitalization of net
earnings which have actually
gone into construction, and the concealment of excessive
earnings from the public.
Of the first purpose—the speculative one—we need
say
nothing. Anything we should say would be pointing
anew the old moral
against the prevalent secrecy and com¬
plexity in corporate accounts. The second purpose is the
most legitimate one of all—we
might say, the only legitimate
one.
It is a fact that nearly
every railroad has been put into
operation before it is properly built and equipped. The
object to which everything was made to bend was to get the
road open and trains
moving over it; so the rails were iron,
the track single and unballasted, the
grades numerous
and steep, the curves
many and sharp, bridges weak,
buildings insufficient, rolling stock scanty and cheap, and
so on.
The public set the road down as done,
being open,
whereas it was in fact only begun; so for a term of
years
there was a demand for more expenditure in
straightening,
grading, ballasting, doubling and relaying track, adding
sidings and equipment, and in completing the original
work, although in reality a railroad is never “completed,”
for as its traffic, wealth and financial
strength grow
the need of more facilities grows also.
If funds for con
struction were provided by
subscribing to new stock
would object, for the increase in property would
nobody
be apparent.
As nobody has ever questioned the perfect
up
title of stockholders to
a
reasonable return
on
their money
invested, it is plain and is generally admitted that when
they “plowin’’ and sequester, in the form of additions
to and improvements in the
property, they are entitled to
dividends on the dividends so
disposed of.
This is easily stated as an abstract
proposition, and, as
such, has probably never been denied in any respectable
quarter. In practice the trouble arises for several rea¬
sons: 1st, it is not
qnite true that earnings put into con¬
struction instead of,being divided are
presented to the
public and forever abandoned by stockholders, if never
capitalized, because they share .somewhat, as stockholders,
in the services rendered the
property by the improve¬
ments, though they draw no dividends on the cost of
them; 2d, in case of many of the Western roads—and in
a
greater or less degree in case of most roads—the stocks
represent scarcely anything, the construction having been
originally paid for by municipal aid and by bonds. The
more serious reasons of trouble have been the
perpetual
differences as to what the actually invested
capitals have
been, what rate of dividends thereon is reasonable, and
what rates of charges are
necessary to yield such rea¬
sonable dividends.
INVESTORS’ SUPPLEMENT.
fvoL. xxxi.
road property must never hereafter look for a return of
incredulous about the actual
more than ten or twenty per cent, let our State legislatures
application of earnings to construction; while, on the
other hand, instances of stock increase for the purpose of plainly fix the percentage in all future charters granted ;
and where scrip dividends are to be made, let them put
concealing earnings are notorious. This incredulity is not
strange, in view of the fact that only in the rarest cases, upon the companies the burden of proving the increased
construction and also require that whenever dividends are
if ever, are earnings at once put into construction account
diverted into construction the accounts shall forthwith show
and capitalized; on the contrary, the practice is to issue
that fact and the issue of scrip therefor shall be made within
scrip during a period of special prosperity, without refer¬
year or be debarred. As a near-by illustration of this lat¬
ence to any particular event in the company’s history.
ter point, the Boston & Albany road shows an increase in
Then when attempt is made to justify the issue by
ascribing it to some undrawn dividends applied to con¬ gross earnings the past year, but a decrease in net, the
reason
being that a large expenditure was made in ter¬
struction years ago, the fact has been forgotten; the claim
minal facilities and rolling stock, which was charged as
is received suspiciously, like bringing forward an old debt
for the first time.
And commonly the dissatisfaction is operating expenses. Were this put at once in construc¬
increased by the indifference to public opinion exhibited tion, and scrip issued therefor, the verity of the transaction
would be susceptible of easy proof ; if the stockholders,
by the managers, who make issues without deigning to be
after waiting some years, try to repossess this sort of gift
frank, much less to fully and intelligibly explain.
It has thus come about that the third purpose named to the public by issuing scrip referable to it, the case will
wear a different look.
above in making scrip dividends—the concealment of ex¬
These
scrip dividends have been so juggled with.,
cessive earnings—is commonly taken as the real one. This
accounts have been kept with
such lack of system
company, say the public, is earning 20 per cent dividends
and does not venture to let that fact be known; or it is and uniformity, that the whole question of what actual
restricted to 10 per cent by its charter, so it keeps down cost of our railroads has been is in a state of confusion;,
the rate to 10 by doubling its stock, in the hope of- avoid¬ moreover, the abuses of stock issuing have been so marked
and flagrant in many instances, and generally there has
ing attention. Undoubtedly the popular belief that cap¬
italized earnings do not represent expenditures put into the been so little method and frankness about it, that a taintof illegitimacy and trickery has been attached to the
property, and further that charges are made to keep up the
usual dividend rates on watered stock, while lower charges whole, and in the lack of discrimination all companies
The legitimate
would yield reasonable returns on actual investments, under¬ come in for a share of the general odium.
lies the anti-railroad feeling, both in this State and in the purpose of stock dividends has become obscured and for¬
granger States.
Probably more scrip dividends in the gotten, and the indefensible purpose is believed to be the
usual manner will only increase that feeling.
An opinion real one. Probably it is impossible to go back now and
determine accurately what is “ the capital actually ex¬
in reference to the authority of the Northwestern road to
increase stock has been obtained from ex-Judge Lawrence, pended” up to the present time; but a halt can be called
more rational system can be employed hereafter.
of Illinois, who finds that the company, existing, for pur¬ and a
The present pernicious system of declaring stock dividends
poses of jurisdiction, in Illinois, Michigan and Wisconsin,
can issue stock only in conformity with the laws of
those when times are sufficiently good and the stock market
States; that directors alone can not make such issues with¬ sufficiently absorptive—that is to say, when the public may
be expected to stand it—can be abandoned for a better
out express authority from either the charter or the stock¬
holders; that the Northwestern directors have no such one, namely : use all net earnings in paying cash divi¬
dends regularly up to the maximum-permitted rate; when
power in the laws oLIllinois; that neither Michigan nor
Wisconsin has given such power to them or to the direc¬ any dividend is necessarily passed, go back and take it
tors of the original companies; that while in Illinois certain up, as an existing debt, in the first subsequent year which
acts did give a vested right to increase the stock, the State yields sufficient earnings for doing so; whenever construc¬
tion is carried on, at the expense of the regular dividend,
cancstill regulate the manner of exercising such right, in
issue scrip to represent it at once.
the absence of any provisions on that subject in the origi¬
nal charters; that the general law of 1858 in Michigan
THE BANKR UPT LA W A GAIN.
clearly gave stockholders power to increase, but that
The draft of a new general bankrupt law, prepared by
in Wisconsin the State can regulate such increase without
Mr. John Lowell, one of the judges in the United States
violating any charter contract. This is the opinion, pro¬
Circuit Court, at the request of the Boston Board of Trade
fessionally given, and presumably to parties who desired
and other commercial associations, has been recently
an opinion of that tenor; but Mr. Lawrence was formerly
tat the head of the Illinois Supreme Court, and that he is revised, after having been subjected to examination and
criticism since it was first put in print in March last.
The
not personally a man prejudiced against railroads may be
inferred from the fact that he was defeated for re-election draft has, therefore, not only the weight which the
to the bench in 1873 because of the bitterness of the position and special experience of its author command*
but the endorsement given by a half-year’s examination.
grangers against him in consequence of his decision in the
By this draft, the powers of registers in bankruptcy are
Chicago & Alton case, early in that year, against the con¬
much increased.
They are virtually made judges on all
stitutionality of the granger law of 1871.
There is already a pretty strong opinion that the Federal matters, in the first instance; a sweeping blow is struck at
Government should and must undertake the solution of the the old vexatious fees system, by which, as is well remem¬
whole railroad problem.
That such an outcome of the bered, bankrupt estates were in large part consumed; the
agitation is probable we do not assume, and that it is registers are made salaried officers, paid by the Govern¬
desirable we shall not waste space in denying. This, how¬ ment, certain round sums (depending somewhat upon the
amount of assets) having to be paid into the Treasury in
ever, is at least desirable, that a definite policy with regard
to stock and cash dividends should be adopted.
It should every case, for covering these salaries and other expenses.
Moreover, the public are
a
employed, their fees are simplified, dimin¬
consolidated, and they also do most of the work
the prejudice of the uninformed legislator.
If it is the
Moreover, the places of
mature judgment of the people that capital going into rail¬ formerly done by marshals.
be left neither to the whim
of the railroad manager nor to
As to the clerks
ished and
December 1880]
INVESTORS’ SUPPLEMENT.
[holding court by the registers are so arranged as to
remedy most of the former costs and delays occasioned to
creditors by being compelled to go a great distance to
attend hearings.
In each circuit is to be a salaried
supervisor, who is charged with overseeing all
was
proceedings within his circuit; he is to report quarterly
to the judge of the. circuit, as to the speed, lawfulness,
•economy, uniformity, and general methods, of the pro¬
ceedings, and the judge is to send a copy of the report to
the Attorney General.
The work of these officers is to
be analagous to that of national bank examiners, and it is
hoped and expected that through them Congress will be
kept promptly and intelligently informed of the workings
•of the law and of any defects developed in it.
Rules of
practice are to be left to the Supreme Court, that they may
thus be prest ri >ed by a body more familiar with the sub¬
ject and more competent than Congress can be. Assignees
are to be chosen by the creditors, and to be assisted by a
•committee of three, if the creditors desire; the power of
assignees to set aside fraudulent or secret liens is somewhat
•enlarged, and the assignees are to.be under the direction
of the salaried registers and supervisors, “ who will have
no possible interest in encouraging delays or expense in
^litigation or otherwise.” A preferred creditor can prove
chosen
the lesser eviL
The old law gave
creditors
not
as
protection; the repeal left them none, and exposed
them to as many varying systems of bankruptcy pro¬
cedure as there are States into which they permit goods to
no
go on
credit.
The old condition of bad uniformity was
tolerable, but neither is the present lack of uniformity.
The present is a peculiarly favorable time for taking up
the subject, the country being prosperous, credit-giving
being rather unusually cautious, and the volume of insol¬
vent indebtedness being unusually low.
Before we get to
the next general break-down—supposing that the periodicity
of crises will still continue—it will
be most wise to put
subject upon a rational footing. The Presidential
succession having been put out of the way for a few
years, Congress and the other politicians outside that
body may fairly be expected to find some time for atten¬
tion to the material interests of the country, and this is
one of the subjects embraced in those interests.
A bank¬
rupt law, by reaction from the evils of not having one,
will become unavoidable in course of time; to enact a
good one without waiting for the pressure which may
produce hasty action will be most sensible.
this
“
Jersey City Finances.—The New York Times calls
to the serious difficulty which arises in this city
attention
from the
surrendered his preference; exemption from taction enjoyed by the large railroad cor¬
under the old law he could prove any other debt except porations. It remarks that “ there is a universal demand for
some radical change in the system of taxation, which exempts
the one so preferred.
Compensation of assignees is left to corporate property from assessment for' local and municipal
vote of the creditors.
Composition is to be conditioned taxes. This evil is great and it is growing. The Erie and
New Jersey Central roads pay a local tax of lper cent on a
on payment of one-third in cash and giving ample security
portion of their property under the act of 1873. But the Penn¬
for the remainder; tins done, a full discharge is to follow. sylvania road has an irrepealable contract under which it pays
a certain sum to the State, in oonsideration of which it is
It is made a crime for a creditor to prove false claims, or
exempted from local tax. The amount paid to the State is
knowingly to receive any valuable consideration for acting, one half of one percent on a portion of its property, and it takes
the place of the old transit dues, or the * head and tonnage
•or forbearing to act, in choice of assignee, acceptance of a
tax,* originally levied upon every passenger and ton of freight
composition, or discharge of a bankrupt. Unlike the old which crossed the State. The Delaware Lackawanna & West¬
ern road and the Morris Canal Company enjoy exemptions on
law, this draft provides for the surrender of leases (unless similar terms. Just how much real estate escapes assessment
adopted by the assignee), the landlord being permitted to under this policy it is difficult to determine.' The reports of
these corporations do not furnish adequate data for an esti¬
prove his debt and take a division with the others, the mate,
and there is no reason why the local assessors should value
bankrupt being then discharged from liability for rent to property which pays no tax. The corporations have seized
'accrue under the lease.
The provisions for securing hon¬ street after street and spread over block after block, until they
possess the most valuable part of the city and almost its entire
esty on the part of debtors and protecting the properties water-front. The property of the Pennsylvania Railroad is
have been improved and amplified. Commission of any estimated all the way from $10,000,000 to $20,000,000; the
Erie from $6,000,000 to $12,000,000 ; the Central from $2,000,000
frauds debars from discharge.
to $5,000,000.
In the financial statement rendered by Mayor
The vices in practice of the old law are well remembered. Hopper to the Controller of the State in 1879, he says: 4 In
addition to the taxable property there is over $30,000,000 of
The costs, delays, hindrances, preferences, and opportuni.
property belonging to railroad corporations situated in the city,
ties for sequestration of assets were such that the credi¬ which is exempt from taxation under State laws/ The effect
of this enormous exemption upon the tax rate can be under¬
tor had little protection, and when debtors said “ I will stood when it is considered that the entire value of taxable
give you so much, and if you resist you will get much property in the city amounts to $58,411,958, the amount
exempted being more than half as much as the amount assessed.
less,” immediate self-interest dictated acceptance. Bank¬ It is estimated by competent authority that in the whole county
ruptcy became a business of itself; the enhanced losses by of Hudson, including the cities of ifoboken, Bayonne, and the
townships, the value of exempted property will reach $50,000,bad debts had to be saddled upon those who paid their
000, while the value of property assessed is but little more
way ;* it became impossible for dealers who paid for their than $90,000,000. From this it appears that $2 worth of property
pays the tax which should be raised upon $3 and some cents.”
goods to compete in price with those who did not, and the
The Holders of U. S. Bonds.—Interesting tables have been
effect was demoralizing.
Reaction against oppression of compiled by Mr. Robert P. Porter, of the U. S. Census Bureau,
debtors had gone rather too far in the opposite direction ; respecting the various holders of the registered bonds (4 per
cent and 4/6 per cent issues) of the United States.
The details
it was, and still is, rather too easy to procure discharge,
of $166,927,300 -registered bonds held by State banks and trust
for the American feeling is that spilled milk is not worth companies are as follows :
Total.
4*2 per cent.
$7,385,800
wasting time over and that it is best quickly forgotten. State bants
$2,115,500
$5,270,300 92,896,900
27,025,356
05,871,550
banks
10,352,250
Probably the new draft does not go quite as far as it judi¬ Savings banks.-,
1,199,150
Private
9,153,100
45,695,050
17,199.700
Insurance companies...
28,495,350
ciously might in proceeding on the theory that inability to Trust companies
9,957,200
6,040,700
3,916,500
640,100
40,000
Express companies
600,000
pay debts is so far a prima facie evidence of fault on part
Total
$113,306,900
$53,620,400
$166,927,300
of the debtor that he should be required to meet it by
Mr. Porter also presents tables showing the distribution of 4
positive showing that he is not to blame ; but still it is and 4/6 per cent bonds in the different States, and the amount
probably even with public opinion on this point and is, at of each class of bonds held in the large cities of the country.
Another sub-division shows the amount held by men and
least, more strict than the old law.
women.
The results of the analysis of the individual ownership
The repeal of that law was only the reaction from a long of the 4 and 4% per cent bonds may be summarized as follows :
States.
Men.'
Women.
Total.
experience of suffering from its defects. Disgusted and Eastern States
$43,194,050
$18,313,250
$61,507,300
no
debt whatever until he has
•
wronged, the mercantile interests demanded of Congress
to either reform it or repeal it, and as Congress showed no
disposition to seriously undertake the former the repea
Middle State
Western States
Southern States
Total
*
178,861,400
39,438,200
9,280,300
$270,573,950
42,373,400
9,419,850
2,566,350
$72,662,850
221,234,800
48,858,050
11,846,650
$343,445,800
[Vol. XXXI.
INVESTORS' SUPPLEMENT.
IV
INDEX
TO
OF RAILROADS.
NAMES
various railroad companies, by reason of
experienced in looking up the name of a
and to facilitate reference to any name, whether
which are constantly taking place in the titles of
consolidations, &c., it frequently occurs that much difficulty may be
former company in the tables of this Supplement. To obviate this difficulty,
aew or old, the following index has been prepared:
With the numerous changes
foreclosures,
NAMES
UNDER
MAKES
MAY BE
'WHICH
UNDER
WHICH THEY WILL
BE FOUND IN THE
TABLES.
COMPANIES
SOUGHT FOR.
“SUPPLEMENT’*
Atlantic A Great Western
Atlantic A Gulf
Atlantic A Pacific
Baltimore Short-Line
Marietta A Cincinnati.
European A North American.
Flint A Pere Marquette.
Cleveland Col. Cin. A Indianapolis.
Chicago A Northwest.
Berks County
Philadelphia A Reading.
Boston Hartford A Erie
New York A New England.
Buffalo A Erie
Lake Shore A Michigan Southern.
Burlington A Missouri
.
Chicago Burlington A Quincy.
Cairo Arkansas A Texas
St. Louis Iron Mount’n A Southern.
Cairo A Fulton
St. Louis Iron Mount’n A Southern.
California A Oregon
Central Pacific.
Camden A Amboy
United Companies of New Jersey.
Cape May A Millville
West Jersey.
Central of Long Island
Flushing North Shore A Central.
Central Vermout
Vermont Central.
Cham. Havana A West
Wab. St. Louis A Pacific.
Chicago Clinton Dubuqe A Minn
O. M. A St. Paul.
Chicago A Great Eastern
Columbus Chic. A Indiana Central.
Chicago A Grand Trunk
Grand Trunk (Canada).
Chicago A Illinois River
Chicago A Alton.
Chicago A Michigan Lake Shore
Chicago A West Michigan.
Chicago A Milwaukee
Chicago A Northwest.
Chicago A Springfield
Illinois Central.
Chicago A Southwestern
Chicago Rock Island A Pacific.
Chic. St. Paul A Minn
Chic. St. Paul Minn. A Omaha.
Chic. St. Paul A Omaha
Chic. St. Paul Minn. A Obama.
Cincinnati A Baltimore
Marietta A Cincinnati.
Cincinnati A Cliicago Air-Line
Columbus Chic. A Indiaua Central.
Cincinnati A Indiana
Cin. Indianapolis St. Louis A Chic.
Cincinnati Hamilton A Indianapolis.Cincinnati Hamilton A Dayton.
Cincinnati Lafayette A Chicago
Cin. Indianapolis St. Louis A Chic.
Clayton A Theresa
Utica A Black River.
Cleveland Columbus A Cincinnati ..Cleveland Col. Cin. A Indianapolis.
Cleveland Painesville A Ashtabula.. Lake Shore A Michigan Southern.
Cleveland A Toledo
Lake Shore A Michigan Southern.
Columbus A Indiana Central
Columbus Chic. A Indiana Central.
Columbus A Indianapolis Central.. .Columbus Chic. A Indiana Central.
Council Bluffs A St. Joseph
Chicago Burlington A Quiucy.
Covington A Lexington
Kentucky Central.
Dakota Southern
Sioux City A Dakota.
Chicago A East. Illinois.
Danville A Vincennes
Davenport A Northwest
Chicago Milwaukee A St. Paul.
Decatur A East St. Louis
Wabash St. Louie A Pacific.
Delano Land Co
Lehigh Valley.
Union Pacific.
Denver Pacific
Detroit A Bay City
Michigan Central.
Eel River.
Detroit A Eel River
Detroit A Milwaukee
Detroit Grand Haven A Milwaukee.
Detroit Monroe A Toledo
Lake Shore A Michigan Southern.
Detroit Grand Haven A Milwaukee;
Detroit A Pontiac
Chicago Burlington A Quiucy.
Dixon Peoria A Hannibal
Easton A Amboy
Lehigh Valley.
East Tennessee A Georgia
East Tenn. Virginia A Georgia.
East Tenn. Virginia A Georgia.
East Tennessee A Virginia
Erie
New York Lake Erie A Western.
Essex
Eastern (Mass.)
Evansville A Crawfordsville
Evansville A Terre Haute.
Evansville Henderson A Nashville. .Louisville A Nashville.
Flint A Holly
Flint A Pere Marquette.
Florence El Dorado AW
Atchison Topeka A Santa Fe.
!
Flushing North Shore A Central.
Flushing A North Shore
Galena A Chicago Union
Chicago A Northwest.
Grand River Valley
Michigan Central.
Great Western (Ill.)
Wabash St. Louis A Pacific..
Hannibal A Central Missouri
Missouri Kansas A Texas.
Hannibal A Naples
Wabash St. Louis A Pacific.
Harlem A Portchester
New York New Haven A Hartford.
Chicago Milwaukee A St. Paul.
Hastings A Dakota
Holly Wayne A Monroe
Flint A Pere Marquette.
Holyoke A Westfield
New Haven A Northampton.
Houston A Great Northern
International A Great Northern.
Illinois Grand Trunk
Chicago Burlington A Quincy.
Illinois A Southern Iowa
Wabash St. Louis A Pacific.
Indiana A Illinois Central
Indianapolis Decatur A Springfield.
Indiauapolis Bloom. A West. Exten.Champaign Havana A Western.
Indianapolis A Cincinnati,
Cin. Indianapolis St. Louis A Chic.
Indianapolis Ciu. A Lafayette
Cin. Indianapolis St. Louis A Chic.
Jeffersonville Madison A Ind.
Indianapolis A Madison
International
International A Great Northern.
Ionia A Lansing
Detroit Lansing A Northern.
Bangor A Piscataquis
Bay City A Saginaw
Bellefontaine A Indiana
Beloit A Madison i
Burlington Cedar Rapids A North’n.
Chicago Milwaukee A St. Paul.
Chicago A Northwest.
Chicago Milwaukee A St. Paul.
Chicago Rock Island A Pacific.
Iowa City A Western
Iowa A Dakota
Iowa Midland
Iowa A Minnesota
Iowa South. A
Missouri North
Jackson Lansing A
Michigan Central.
Lake Shore A Michigan Southern,
Chieage A Alton.
Rapids .Lake Shore A Michigan Southern.
i
Lake Shore A Michigan Southern.
Saginaw
Jamestown A Franklin
Joliet A Chicago
Kalamazoo Allegan A Gr.
Kalamazoo A Schoolcraft
Kalamazoo A South Haven
Kalamazoo A White Pigeon
.
Michigan Central.
Lake Shore A Michigan Southern.
Kausas City A Cameron
Kansas City A Eastern
Kausas City St. Jos. A Council S
Kansas City St. Louis A Chic
Kansas City Topeka A Western
Kansas A Nebraska
Kansas Pacific
Hannibal A St. Joseph.
Missouri Pacific.
Chicago Burlington A Quincy.
Chicago A Alton.
Atchison Topeka A Santa Fe.
Eackawanna A Bloomshurg
Delaware Lackawanna A
Lafayette Bloomington A
Lake Erie Wabash A St.
St. Joseph A Western.
Union Pacific.
WHICH THEY
Western.
Chicago A Alton.
Wash. City Va. Mid. A Gt. Southern
Central Railroad A Bank Co., Ga»
Cleveland A Marietta.
I. t. .Connecticut A Passumpsic.
Louisville A Nashville.
A Cleve
Massawippi
Memphis A Ohio
Menominee River
Michigan Air-Line
Michigan So. A North’ll Indiana
Midland of New Jersey
1
Milwaukee A Western
Minnesota Central
Minnesota Valley
Missisquoi
Mississippi Central
Missouri River Fort Scott A
& Southern
..-Central of New Jersey.
Missouri Pacific.
New York Luke Erie A Western.
Lynchburg A Danville
Macon A Western
Mariette Pittsburg
WILL
“SUPPLEMENT”
Maine Central.
Farmington
Lehigh A Wilkesbarre Coal Co
Lexington A Southern
Long Dock Company
Ixmisiana A Missouri
Gulf
..
Missouri River RR
Montclair
Montieello A Port Jervis
Chicago A Northwest.
Michigan Central.
Lake/Shore A Michigan Southern.
New Jersey Midland.
Chicago Milwaukee A St. Paul.
Chicago Milwaukee A St. Paul
Chicago A Northwest.
Vermont A Canada.
Chicago St. Louis A New Orleans.
.Kansas City Fort Scott A Gulf.
Missouri Pacific.
New York A Greenwood Lake.
Port Jervis A Monticello.
c
Worcester A Nashua.
Central of New Jersey.
Nashua A Rochester
Newark A New York
New Bedford Railroad
New Jersey RR. A Trausportat’n
New Mexico A So. Pacific
New Orleans Jackson A G. N
New York A Manhattan Beach
New York A Oswego Midland
New York A Rockaway
:
Newtown A Flushing
Niles A New Lisbon
Norfolk A Petersburg
Northern Cross
North Missouri
North Wisconsin
Northwestern North Carolina
Northwestern Union...,
Northwestern Virginia
Boston Clinton Fitchburg A N. B.
Co.United New Jersey RR. A Canal Co’s
Atchison Topeka A Santa Fe.
.Chicago St. Louis A New Orleans.
Manhattan Beach Co.
New York Ontario A Southern.
Long Island.
Long Island.
Cleveland A Mahoning Valley*
Atlantic Mississippi A Ohio.
Chicago Burlington A Quincy.
Wabash St. Louis A Pacific.
Chic. St. Paul Minn. A Omaha.
Richmond A Danville.
Chicago A Northwest.
Baltimore A Ohio.
Detroit Gr. Haven A Milwaukee.
Pittsburg Titusville A Buffalo.
Burlington A Missouri in Nebraska
Lake Ontario Southern.
Oakland A Ottawa River
Oil Creek
Omaha A Southwestern
Ontario Southern
Washington City Va. Mid, A Gfc. So.
Orange A Alexandria
Ottawa Oswego
Chicago Burlington A Quincy.
A Fox River
Portland A Kennebec
Prairie du Ckien
Pueblo A Arkansas Valley
Missouri Pacific.
Peoria Decatur A Evansville.
Chicago A Northwest.
Chicago A Northwest.
Atchison Topeka A Santa Fe
Chicago A Lake Huron.
Port Royal A Augusta.
Maine Central.
Chicago Milwaukee A St. Paul.
Atchison Topeka A Santa Fe.
Quincy Alton A St. Louis
Quincy Mo. A Pacific
Quincy A Palmyra
Quincy A Toledo
Quincy A Warsaw
Republican Valley
Chicago Burlington A Quincy.
Wabash St. Louis A Pacifle.
Hannibal A St. Joseph.
Wabash St. Louis A Pacific.
Chicago Burlington A Quincy.
Burlington A Missouri in Nebraska.
Pacific of Missouri
Pekin Lincoln A Decatur
Peninsular (Mich.)
Plain View
Pleasant Hill A De Soto
Port Huron A Lake Michigan
Port
Royal
Rochester A Northern
Minnesota
..
.Chicago A Northwest.
Joseph A Denver City
St. Joseph A Western.
St. Joseph A Pacific
:
St. Joseph A Western.
St. Louis Jacksonville A Chicago
Chicago A Alton.
St. Louis Kansas A Arizona
Missouri Pacific.
St. Louis Kansas City A Northern.. .Wabash St. Louis A Pacific.
St. Louis A Lexington
Missouri Pacific.
St. Louis Rock Island A CV
Chicago Burlington A Quincy.
St.
St. Paul
St. Paul
St. Paul
St. Paul
Chicago Milwaukee A St. Paul.
Minneapolis A Manitoba.
Chic. St. Paul Mmn. A Omaha.
Chic. St. Paul Minn. A Omaha.
A Chicago
A Pacific
A Sioux City
Stillwater A T. F
‘. .St. Paul
Sandusky City A Indiaua.
Cincinnati Sandusky A Cleveland.
Sandusky Dayton A Cincinnati
Cincinnati Sandusky A Cleveland.
San Fraucisco Oakland A Alameda .Central Pacific.
Savannah Albany A Gulf
Atlantic A Gulf.
Schoolcraft A Three Rivers
.. .Lake Shore A Michigan Southern.
Scioto A Hocking Valley
Marietta A Cincinnati.
Sioux City A St. Paul
St. Paul A Sioux City.
Smithtown A Port Jeffersou
Long Island.
South Paeilic (Mo.)
St. Louis A San Francisco.
South Side, (L. I.)
Brooklyn A Montauk.
South Side (Va.)
,
1.. .Atlantic Mississippi A Ohio.
Atlantic A Gulf..
Chicago Milwaukee A St. Paul.
Vermont Central.
Pittsburg C. A St. Louis.
Southern Georgia A Florida
Southern Minnesota
Stan stead S. A Chambly
Steubenville A Indiana
Sunbury A Erie
Philadelphia A Erie.
Missouri Kansas A Texas.
Nashville Chattanooga A St. Louis.
Wabash St. Louis A Pacific.
Columbus Chic. A Indiaua Central.
Wabash St. Louis A Pacific.
;—Wabash St. Louis A Pacific.
Columbus Chic. A Indiana Central.
Pittsburg Titusville A Buffalo.
Tebo A Neosho
Tennessee A Pacific
Toledo A Illinois
Toledo Logansport A Burlington
Toledo Peoria A Warsaw .
Toledo A Wabash
Union A Logansport......
Union A Titusville
Chesapeake A Ohio.
Atlantic Mississippi A Ohio.
Virginia Central
Virginia A Tennessee
Wabash St. Louis A Pacific.
.Houston A Texas Central.
Wabash A Western
Waco A Northwest
West Wisconsin
Western Pacific
Muncie.. .Lake Erie A Western.
Wabash St. Louie A Pacific.
Louis
UNDER
BE FOUND IN THE
TABLE8.
Leeds A
Denver A Rio Grande.
Chicago Burlington A Quincy.
Union Paeilic, Central Branch.
New York Pennsylvania A Ohio.
Savannah Florida A Western.
St. Louis A San Francisco.
Valley.
Atcliison A Nebraska
Atchison A Pike’s Peak.
NAMES
UNDER WHICH COMPANIES
MAY BE SOUGHT FOR.
Leavenworth Atchison A N’west—Missouri Pacific.
Kansas City Lawrence
Leavenworth Lawrence A Galv
River
Selma Rome A Dalton.
American Dock A Improvem’t Co.. .Central of New Jersey.
Androscoggin A Kenne-bec
Maine Central.
Alabama A Tennessee
Arkansas
NAMES
'
Western Union Railroad
Wichita A Southwestern
Winona A St. Peter
Wisconsin Valley
.
Chicago St. Paul A Minneapolis
Central Pacific.
.....Chicago Milwaukee A St. PauL
Atchison Topeka A Santa Fe.
Chicago A Northwest.
Chicago Milwaukee A 8t Paul#
STOCK AND BOND TABLES.
NOTES.
These tables are expressly intended to be used in connection with the information concerning Investment
matters, published from week to
week in the Chronicle—to which an index is furnished in the remarks at the foot of the tables. Annual
reports are in black-faced
figures.
description of U. 8. Government Securities is published in the Chronicle each month, as soon as the official “ Debt Statement” is issued.
Prices of all active Stocks and Bonds are quoted weekly in the Chronicle, and a list of
general quotations is published monthly.
The following will give explanations of each column of the tables below:
A
Description.—Railroads leased to others will sometimes be found under the lessee’s name. The following abbreviations frequently occur, viz.:
M. for “mortgage.” s. f. for “sinking fund,” 1. gr. for “ land giant,”
reg. for “ registered,” coup, for “ coupon,” Br. for “Branch,” guar, for
“guaranteed.” end.for “ endorsed.” “ Coupon*” indicates that the bonds are coupon, but may be registered.
Date or Bonds.— The date of issue is referred to in this column.
Miles of Road.—Opposite Stocks, this means the miles of road
operated,
by the mortgage.
60677878811
on
which the earnings are based; opposite bonds, the miles
covered
Size or Par Value.—These figures are dollars, showing the denominations or pai value. The
figures “ 100, Ac.,” signify $100 and larger.
Rate Per Cent.—The interest
per annum is given for bonds, but the per cent of last dividend for stocks; g means gold; z, extra; s, stock or scrip.
When Payable— J. A J. stands for Jan. A July; F. & A., Feb. & Aug.; M. & 8., March &
Sept.; A. & O., April & Oct.; M. & N., May & Nov.; J. A D.,
June <fc Dec.; Q.—J., quarterly from January; Q.—F.,
quarterly from Feb.; Q.—M., quarterly from March.
Bonds, principal when due ; Stocks, last dividend.—The date in this column shows the period‘when the principal falls due of
bonds, but the time
when the last dividend was paid on stocks.
1
*
STATE SECURITIES.
Subscribers will confer
a
DESCRIPTION.
Date of
Size
Bonds.
Alabama— Substitution bonds (A) ($7,000,000).
Substitute b’ds for RR. (B) ($596,000)
for Ala. & Chatt.
(C) ($1,000,000)
1876
1876
1876
$100&c.
$6,578,000
100 &c.
100 &c.
539,000
931,000
•'•
•
»
m
100 &c.
....
....
1,000
1,000
1,000
1,000
1,000
.
.
.
.
500 &c.
....
500 &c.
1,000
1,000
100 &c.
1,000
500 Ac.
100 &c.
100 Ac.
50 &c.
50 &c.
1,000
100 &c.
....
1,000
1.000
500
500 Ac.
1861
1876
3 877
1879
1,000
1,000
250&c.
1,000
1,000
....
....
•
•
-
•
2,810,670
960,000
1,886,000
1,268,000
1,986,773
1,985,955
261,500
....
1872
1873
Iowa—War and defense bonds
School fund bouds
m
1,000
1,000
.
Bonds, act of Jan. 18, ’72
Bonds for funding (Act Feb. 19, ’73)
Bonds to fund coupons on endorsed bonds...
Bonds exchanged for endorsed RR. bonds.
Indiana—Bonds, coup, (pay’ble after Apr.1,’84)
School fund bonds (non-negotiable)
•
m,
412,000
1,200,000
1,000,000
1,200,000
600,000
1,350,000
1,353,120
95,500
500,000
2,801,000
877,000
1,318,500
1,741,100
1,031,000
3,995,000
670,000
1,092,300
14,504,900
150,000
423,000
1,830,000
till 1881, then 3
per
cent till 1886, 4 per cent till 1896, and 5
Ser cent for last 10 years, for old bonds, without any allowance for pa6tcoupons. Alabama A Chattanooga endorsed bonds are exchanged
ue
for $1,000,000 of the new bonds, Class C, which bear 2 per cent till 1881,
and 4 per cent for remaining 25 years. For railroad endorsements the
bonds issued bear 5 per cent. In 1880 the new 6 per cent bonds were
issued to retire old 8 per cent “ State obligations.” An analysis of the
debt and funding operations was given in the Chronicle, V. 24, p. 28.
For the $2,000,000 of State 8 per cent bonds issued to the Ala. & Chatt.
RR. under act of Feb. 11, 1870, the State gives the lien on the lauds
granted to that railroad, 500,000 to 1,200,000 acres. Tax rate, 1878-9,
7 mills. The assessed valuation of real estate and personalty is $126,773,262. (V. 27, p. 94; Y. 28, p. 199.)
Arkansas.—The State Supreme Court decided Levee bonds of 1869 and
1870 invalid. The State is in default for interest, except on the 10 per
cents of 1874 and secured sinking fund bouds issued under the law of
December, 1874. The total recognized debt is $5,813,627, and State
(land and sinking fund), $5,274,712. Assessed valuation of tax¬
assets
able property in 1880 about $90,000,000, and tax rate 7^ mills. The
following are the latest olheial assessments:
Real Estate.
Personal.
Tax Rate.
1875
$61,812,088
$29,842,103
10
1876
61,892,881
31.971,308
10
1877
55,713,115
32,366,893
7
1878... •.
55,351,488
32,613,686
7^
(V. 25, p. 161; V. 27, p. 15, 40 ; V. 28, p. 171, 276; Y. 31. p. 88, 204, 303.)
California.—The State holds in trust for School and University funds
the $500,000 Capitol bonds and also bonds of 1873, in all $1,244,000.
Assessed valuations and rate of tax per $1,000 have been:
Years.
1875
1876
1878
1879
Real Estate.
Personal.
$418,840,023
454,641,311
458,172,198
466,273,585
$199,243,292
140,431,866
128,780,824
118,304,451
Total Valuation. Tax Rate.
$618,083,315
Rate.
When
Payable
2 Ac.
5
2 &c.
J.
J.
J.
6
6
J.
J.&J.
& J.
7
7
7
7
7
7
5 & 8
7 g.
7 g.
6 g.
6
6
6
5
6 g.
7
5
3-65
g.
g.
g.
g.
Due.
Whom.
Y., Importers’ & Tr. Bk,
do
do
July 1,1906
July 1,1906
July 1,1906
do
do
Montgomery.
N. Y., Union Trust Co.
J. & J.
10
6
Principal—When
lpai—
Where Payable and by
& J. N.
& J.
& J.
6
7
7
6
7
350,000
925,000 7 A 6
8
4,000,000
6
589,500
7
3,600,000
7
2,097,000
7
307,500
8
700,000
7
542,000
6
2,298,000
5
510,000
6
3,904,783
7
300,000
8
245,435
Alabama— The State gave 30-year bonds, dated July 1,1876, bearing
2 per cent
INTEREST.
Amount
Outstanding
Educational funded debt
New bonds for funded “ obligations ”
1880
Arkansas—Funding bonds of 1869 and 1870.. 1869 to ’70
1870
Funding Bonds 1870 (Holford)
Levee bonds (or warrants)
1871
Old unfunded debt, including interest
1838 to ’39
Ten year b’ds, Act May 29/74
1874
1875
Sinking fund bds. (Lougliborough)Act.Dec., *74
To Memphis & Little Rock Railroad
1869
To Little Rock & Fort Smith Railroad
1870
To Little Rock, Pine Bluffs & N. Orleans RR..
1870
To Miss., Ouachita & Red River Railroad
1870
To Arkansas Central Railroad
1870
State scrip
1863
Galifomiar-Soldiers’ relief
1863
State Capitol bonds
1870 &’72
Funded debt bonds of 1873
1873
Connecticut—War bonds, 20 year
1863
} Coupon
War bonds, 20 year
1864
>
or
do
not taxable, 20 year.. ) regist’d.
1865
New bonds, coupon, 10-20 year
1877
1872
Dist.pf Columbia— Perm’t imp’t, gold, coup
Permanent improvement bonds, coupon
1873
Bds for fund’g (Act June 10, ’79) coup, or reg.
1879
Fund, b’ds (U.S.guar.,Acts June,’74& Feb.,’75)
1874
Market stock, coupon
1872
Water stock bonds, coupon
1871 to ’73
'
Wash, fund’g, gld,($660,000 are M. AN., 1902).
1872
Florida—State bonds
1871
Consolidated gold bonds ($300,000 are 7s)....
1873
Loan to Jacksonville, Pensacola & Mobile RR.
1870
1858 to’66
Georgia—Atlantic & Gulf Railroad bonds
1866
Bonds, act of Mar. 12, ’66 (renewal W. & A.)..
1870
Quarterly gold bonds, act of Sept. 15,1870..
or
par
Value.
For explanations see notes above.
do
■
great favor by giving immediate notice of any error discovered in these Tables.
do
1899
1900
1900
do
J.
J.
A.
A.
A.
A.
A.
J.
J.
T.
J.
J.
A.
M.
J.
J.
J.
F.
J.
J.
J.
&
&
&
&
&
&
&
&
&
&
&
&
&
A
1884**
&J.
Little Rock, Ark.
& J. New York, Nat. City Bank,
& O.
N. Y., Union Trust Co.
& O
do
"
do
& O
do
do
& O
do
do
& O.
do
do
J.
J.
F.
J.
1899'
1900
1900
1900
April, 1900
J.
1883
Sacramento, Treasury,
J.
do
do
1885
J.
do
do
1893
J.
Jan. 1, 1883
Hartford, Treasury,
J.
do
do
Jan. 1, 1884
O.
do
’
do
Oct. 1, 1885
N.
do
do
May 1, 1897
J. Wash, or N. Y., U. S. Treas.
July 1, 1891
J.
do
do
July 1, 1891
J.
do
do
July 1, 1899
A.
do
do
Aug. 1. 1924
do
J.
do
July 26,1892
J.
do
do
Oct. 1,1901 to ’03
do
J.
do
1892 A 1902
N. Y., Importers’ A Tr. B’k.
*&*J.
do
do
Jan. 1,1903
& J.
& A. N. Y., National Park Bank.
1881 and 1886
& J.
do
do
May, 1886
..
do
do
do
do
do
do
Q.-J.
J. & J.
A. & O.
J. & J.
J. & J.
A. & O.
Various
J. & J.
M. & S.
N.
Oct., 1890
July, 1892
April 1, 1886
July 1, 1896
Jan. 1, 1889
April 1,1889
do
do
do
do
Y., Winslow,,L. & Co.
do
do
New York, Kountze Bros.
State Treasury.
July*!,’
1831
for 1880 was $87,980,356; personal property, $11,421,431. The interest
and sinking fund on the 3-65 bonds are provided for by Congress, and a
law of 1880 allowed further issues, which will raise the amount of these
bonds. Real estate has been assessed as follows:
Real Estate.
$93,452,684
95,929,401
Personal.
Tax Rate.
$15
$
15
97,609,890
17,239,051
15
87,491,442
13,363,920
15
87,980,356
15
-(V. 26, p. 599; V. 27, p. 303; V. 28, p. 553,578,599; V. 29, p. 17, 40, 05 ;
V. 31, p. 88, 122, 304, 381.)
15,419,873
Florida— Less the sinking fund of $143,900. and Jacksonville Pensa¬
cola & Mobile loan, the total debt is $1,149,800, which does not include
$132,000 bonds of 1857, held by Indian Trust Fund.
Coupons of the
consolidated bonds are receivable for taxes. Real and personal property
assessed in 1878 at $29,471,227; tax rate, 9 mills; in 1879 at
$30,938,209, tax rate 7 mills. The Jacksonville Pensacola A Mobile
Railroad loan is in litigation, and the State Supremo
cided that the State is not bound for it. (V. 25, p. 212.)
Court has de¬
Georgia.—The constitutional amendment in 1877 declared void several
issues of bonds and railroad endorsements. The Southern Georgia A
Florida Railroad has $464,000 of bonds endorsed, but pays interest.
Assessed value and tax rate per $1,000 have been:
Years.
Real Estate.
Total Debt.
$146,036,806
140,153,250
134,635,886
$8,447,500
Personalty. Rate of Tax.
$99,816,944
$500
500
95,506,280
91,585,832 /
5 00
1879......... 134,244,081
90,849,338
3*50
-(V. 27, p. 653; V. 28, p. 17; V. 30, p. 465.)
10,644,500
10,444,500
10,344,500
$6\50
7'35
6*20
5*50
7ndia?ia.—There are also $139,000 of 6 per cent war loan bonds.
Indiana made a compromise with her bondholders in 1846, giving them
State stock for one-half of their bonds and overdue coupons, and Wabash
A Erie Canal stock for the balance, about $7,500,000. The canal has
Connecticut—The debt of Connecticut was all created originally for
purposes. Assessed valuation and tax rate per $1,000 have been:
Real Estate.
Years.
Personalty.
Tax Rate.
proved worthless,, and the creditors claimed payment for their shares
from the State.
Valuation, 1879, .all taxable property, $884,368,828,
against $850,616,987 in 1878. Tax rate, 1*3 mills.
595,073,177
586,953,022
584,578,036
war
1876
1877
1878
1879
$244,121,905
238,027,032
235,412,691
228,987,700
$107,663,564
$1*00
106,379,945
1-50
1*50
1-50
99,970,163
95,901,323
The assessed valuation of real estate is about 70 per cent of the true value.
District of
Columbia— The total assessed value of taxable real estate
Iowa.—This State has
a very small debt, and also very small town and
Assessed values (about one-tliird of twie value) and tax
$1,000 have been:
county debts.
rate per
Years.
1875
1877
Real Estate.
$294,313,368
302,277,661
303,381,498
Personal and RR. Tax Rate.
$101,109,772
102,292,383
$3
102,159,899
3
3
Debt.
$543,056
545,435
545,435
Subscribers will confer a
great favor by
iFor
Bonds for various
State purposes
Louisiana—Bonds for relief of State Treasury
Bonds in aid of various raHroads
Levee bonds—Act 35 of 1865
do
Act 115 of 1867
do
special—Act 32 of 1870
outstanding.
.
1866
1867
1870
1866
1870
1869
1857
1870
1871
1869
1874
1880
1863
1864
1868
1880
1838
1838
289,000
61,000
273,000
49,000
98,000
23,000
500
48,000
80,000
260,000
48,000
70,000
100 Ac.
1,000
1,000
1,000
1,000
1,000
1,000
7958118775. 8811
to N. Orleans,
to N.
Mobile & Chatt. RR.
Texas RR..
Orleans, Mobile &
Consolidated funded bonds
Twos, fours and threes (see notes
Maine—War loan bonds
Bounty loan bonds
Municipal war debt assumed
Four per cent bonds
below)
) Coup.
I or
, regisJ tered.
Maryland—Baltimore A Ohio Railroad,
Chesapeake & Ohio Canal, sterling
sterling
-■
Railroads and canals
Eastern Shore Railroad
Baltimore & Susquehanna
Railroad
Michigan—Two Million Loan
War Bounty Bonds
Minnesota-State Building loan, coupon
Railroad Bonds (not recognized;
Missouri— State bonds, proper
Consolidated bonds
University and Lunatic Asylum bonds
stock refunding
29, ’7f)
1854 to ’59
1853 to ’59
1874'
1875-6-7
L857 to ’75
1874
1877
1871
1872
1864
1872
renewal
Kebraskar— Bonds (act Feb. 14,1877) coupon...
Hampshire—War loan, coupon
Municipal war loan
Nets
2,330,000
2,826,900
307,000
155,615
31,069
269,000
528,355
298,435
62,605
3,326,750
225,000
465,000
965,554
500,000
888,000
200,000
4,379,500
bonds
4,000,744
999,944
5,506,952
1,366,500
3,598,540
1,497,980
670,000
1,300,000
1,000
5,000
200,000
3,599,024
£200
700,000
1,000
1,000
1,000
1,500,000
1,100,000
1,292,280
£500
591,000
299,000
250,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
2,275,000
439,000
2,727,000
401,000
104,000
1,693,000
267,000
504,000
1,361,000
2,972,000
r
1,000,000
3,850,000
1,518,000
1,482,000
1,000
549,267
160,000
1,000
1,000
380,000
600,000
100 Ac.
the issue of municipal
(at one-half of true
Real
Personal Rate of Tax Total
Total
Years.
Estate.
Property, per $1,000. Debt.
Assets.
$94,586,003 $39,246,313 $5 50 $1,235,975 $119,475
97,483,242
39,997,287
1,181,975
116,875
5 50
97,567,623
41,131,187
94,275
5 50
1,181,975
101,229,734
43,700,545
5 50
1,181,975
181,776
—State funds hold $713,700 of the bonds.
Louisiana.—The Constitutional amendment passed December, 1879,
provides for a new bond in place of consols of 1871, bearing 2 per cent
for 5 years, 3 per cent for 15 years and 4 per cent afterwards, on which
basis the interest charge per year for consols is $235,542. Constitutional
wuod were 1879, see
Srevisions of $124,000, V.4 29, p.
percents, $141,300; and 3per cents (baby
bonds), $550,515. The assessed value of property for 1880 is $149,635,805, and tax is limited to 6 mills. The interest tax alone was 5*2 mills
before the constitutional amendment, and bondholders are trying to en¬
force its collection by suit ; in December, 1880, an injunction was grant¬
ed against the State Treasurer to prevent his diverting the interest
funds. There is considerable overdue interest of the years 1874 to 1880
Inclusive. A suit has been begun by the State of New Hampshire
against Louisiana on her bonds. (V. 29, p. 18, 96, 277, 330, 358, 631;
V. 30, p. 117, 493; V, 31, p. 88, 559, 606.)
Maine.—'The net debt January 1, 1880, was $5,848,900. The sinking
fund $1,166,159, January, 1880, reduced the total debt to a net
amount of $4,682,741.
Tax rate in 1877, 3 mills. For 1878, 33* mills.
90. To Dec. 15, 1880, the 2 per cents
-(V. 31, p. 205.)
Maryland.—The State has largely
and
assisted canals and railroads,
and
productive; the State
Assossed valuation
holds $3,585,327 of stocks
bonds ranked as
also holds $25,323,304 in unproductive securities.
and tax rate have been :
Real and
Tax Rate,
Sinking
Funds.
$125,264
478,468,028
126,642
464,425,790
134,111
#09,213,891
140,741
—(V. 28, p. 42.)
Massachusetts.—The funded debt, January 1, 1880, was $33,020,464.
The sinking funds were $12,235,248. The Hoosac tunnel and connections
eost the State about $18,8o4,024, including interest paid.
Assessod
Years.
1876
1877
1878
1879
Personal.
$429,112,418
$100.
17Mc.
17Hc.
18%c.
18%e.
per
1883 to’84
1884 to ’99
1884 to ’99
Am. Exch. Nat. Bk.
do
do
do
do
'
July, 1893
$15,000
119,000
1872 to 1906
Various
1886
Various
8
May 1, 1907
M. A N.
6
March 1,1875
Amounts not
M. A S.
8
1886 A ’88
fundable, i
J. A J.
6
^
Jan. 1, 1890
per report of"
80,000
J. A J.
8
1899
Jan. 1,1878.
260,000
7-30 M. A S.
1897
Various
48,000
6
July 1,1910
J. A J.
70,000
8
April, 1911
A. A O. 2,500,000
8
875,000
8
Jan., 1914
N. Y., Bank of N. Y.
J. A J.
7
1886 A1914
New Orleans.
2, 4,3 J. A J.
March 1, 1883
M. A S.
Boston, Suffolk Bank.
6
June 1,1889
do
do
J. A D.
6
Oct. 1,1889
A. A O.
Augusta and Boston.
6
$25,000 per year.
F. A A.
Boston, Suffolk Bank.
4
1890
London. Baring Bros.
5 g- J. A J.
1890
do
do
5 g- J. A J.
1890
Balt., Farm. A Merch. Bk.
5
Q.-J.
1890
do
do
A. A O.
5
1890
do
do
3
Quart’y
1885
do
do
J. A J.
6
1890
do
do
6
Q.-J.
1890
do
do
A. A O.
6
188S
do
do
J. A J.
6
1885 A ’89
do
do
J. A J.
6
1887 A 1891
do
do
J. A J.
6
1887
do
do
6
1888 to 1893
do
do
J. A J.
6
July 1, 1883
Boston. Treasury.
5 g. J. A J.
do
do
July 1, 1883
5 g. J. A J.
do
Mary 1, 1894
do
5 g. M. AN.
May 1, 1894
London, Baring Bros.
5 g. M. AN.
do
July 1, 1809
do
5 g. J. A J.
do
Oct., 1888 to ’90
do
5 g. A. A O.
April, 1891A ’93
Boston Treasury.
5 g. A. A O.
July, 1891
London, Baring Brea.
5 g. J. A J.
Jan. 1, 1895
do
do
5 g. J. A J.
1893 A ’94
Boston Treasury.
5 g. J. A J.
do
July 1, 1895
do
5 g. J. A J.
do
April 1,1890
do
5 g- A. A O.
July 1,1900
London, Baring Bros.
5 g- J. A J.
Sept. 1.1894-96
Bostoo, Treasury.
5 g. J. A J.
J’yl,’94-Sep 1,’97
Boston. Treasury.
5 g. Various
do
do
M’yl’95-Sepl,’96
5 g. Various
Jan. 1, 1895
London, McCalmonts.
5 g. J. A J.
Jan. 1, 1883
J. A J. N. Y., Am. Exchange Bank.
6
do
May, 1890
do
M. A N.
7
July 1,1883
St. Paul, Treasury.
J. A J.
7
Dec., 1887
J. A D.
7
1883
J. A J. N. Y., Bank of Commerce.
6
1888
do
do
J. A J.
6
do
July, 1892
do
J. A J.
6
do
do
April 1, 1891
J. A J.
6
1881 to’88
do
do
J. A J.
6
1881 to ’89
do
do
J. A J.
6
1881 to ’00
do
do
J. A J.
6
1881 to ’89
do
do
J. A J.
6
1881 to’87
do
do
J. A J.
6
July, 1894
do.
do
J. A J.
6
1895-6-7
do
do
J. A J.
6
1887 to ’95
N. Y.f B’k N. America.
T. A J.
6
1894-0-6
do
do
J. A J.
•
•
•
•
-
6
'8
State
A. A O.
9*3 A 10 Various
M. A 8.
9^2
2,206,100
Kansas.—Kansas has but a small State debt, but
The valuations
bonds amount to $13,006,000.
value) have been:
J. A J.
J. A J.
J. A J.
..
1,995,555
2,436,666
1,660
do
Nevada—State bonds
Territorial bonds
815,815
385,000
500 Ac.
500 Ac.
100 Ac.
....
1865
1873
1858
1865 to *66
1868
1872
1874
1854 to ’58
1857 to ’59
1859 to ’60
Bonds to North Missouri Railroad
Bonds to Cairo A Fulton Railroad
Bonds to Platte County Railroad
Bonds to Iron Mountain Railroad
Pacific Railroad of Missouri
do
due.
....
11,527,000
1837
1870
1839
1839
1868
*
1870 & ’74
1872 A ’76 100 Ac.
1872
1878
1863
1863
1,000
500 Ac.
1864
£100 Ac
1864
£200
1869
L858 to ’61 £200 Ac
1861 to’63 500 Ac.
200 Ac.
1871
£500
1875
1873 to ’74
1,000
do
home
sterling....
do
do
do
sterling....
do
do
dollar bond
1875
do
do
co
1860
Vermont Railroad Loan
Southern
1868 to’69
Boston, Hartford & Erie Railroad, sterling...
1874 A’76
Harbor Land Improvement (5-20s).
1874 A ’77
Danvers Lunatic Hospital
1875-’76
Lunatic Hospital, Worcester
1875
New State Prisons, sterling
1863
do
do
Funding bonds
Renewal bonds, coup., 5-20s, (act Mch.
Hannibal A St. Joseph Railroad
875,000
100 Ac.
Various.
1839
:
Chesapeake & Ohio Canal
Baltimore & Susquehanna Railroad
Annapolis & Elkridge Railroad
Defense Bounty Loan
Deaf and Dumb Asylum Loan
Maryland Hospital Loan, 10-15 years
Maryland State Loan
Treasury relief loan, 10-15 years
Massachusetts— Coast Defense roan
Bounty Fund Loan
Bounty Fund Loan
do
do sterling
War Loan, sterling
Troy & Greenfield Railroad loan, sterling
State Bank
2,500,000
July.
7
7
6
6
739,000
1,000
1,000
1,000
N. Y.,
6
$101,175
500
1853
Canal..
to
Payable
Principal—When
and by
Where pavable
whom.
When
Rate.
’
■
•
Navigation Co.,
Mississippi & Mexican Gulf
school, held by St. Treasurer
do
do
do
do
-
Amount
or
par
1861 to ’69 $100Ac.
1861 to ’75 100 Ac.
1864 to’65
hfilitary loan
of any error discovered in these Tables.
INTEREST.
Value.
tables.
funding, Ac
Bonds funding coupons
to Boeuf & Crocodile
do
Size
Bonds.
explanation see notes on first page of
Kansas—Bonds, 1861 to ’69,
giving immediate notice
Date of
DESCRIPTION.
[VOL. XXXI.
SECURITIES.
STATE
VI
M. A 8.
J. A J.
6
6
N.
April 1, 1897
Treasury.
State/Treasury.
Y.l Wells, Fargo A Co.
Concord
or
do
Buston.
do
1881 and ’02
March, 1887
Sept., 1884 A ’89
Jan., ’92 to 1905
Total
Sinking
$1,000.
Debt.
Funds.
1877
$1,191,583,169 $822,289,966 $12 84 $33,550,464 $13,635,490
1878 ....1,118,557,164 761,266,574 12 54 33,219,404 13,448,194
1879....
1,090,749,235 742,533,998 12 78 33,020,464 14,142,900
The loan to Boston Hartford A Erie Railroad was secured
by
deposit of $3,600,000 “Berdell” mortgage bonds, afterwards exchanged
for N. Y. A N. E. RR. stock, and had a sinking fund of $1,141,991 Jan¬
(V. 26, p. 40, 523.)
uary 1, 1880.
Michigan.—The debt is practically extinguished, as the sinking fund
has $904,020 assets. Equalized valuation of real and personal property,
1880, about $630,000,000, and tax rate for State purposes 1 278-1,000
mills on the $1.
*
Minnesota— All the State bonds are now held by the permanent school
fund. Minnesota has refused to recognize the “State Railroad Bonds” of
1858, to the amount of $2,275,000. A proposed compromise with the
holders was defeated by a large majority m 1877. Taxable property and
Years.
Real
Estate.
Personal
Tax per
Property.
....
State tax since
Years.
1874 have been:
,
Personal. Tax Rate.
$45,162,467
2-1
45,302,485
173,548,259
2
45,141,659
175,783,979
2
183,615,738
46.175,304
2^
Tax for all purposes in counties averages 17*4 mills.
Missouri.—The valuation of all real and personal property m 1878 was
$628,329,312, of which $438,663,920 was real and $173,543,091 per¬
sonal. Railroads and bridges were assessed separately at $26,122,201;
the gross valuation exclusive of railroads and bridges was $509,824,423.
The tax rate is 40c. per $100. Bonds maturing are met by sale of
renewTal bonds and by sinking fund. The Hannibal & St. Joseph RR.
provides for its own debt. (Y. 27, p. 200, 409; Y. 30, p. 467.)
Nebraska.—The State school fund holds $326,267. There are also $50,000 10 per cent “ Grasshopper” bonds due 1885, interest paid January
and July. Assessed valuation (33H per cent of true value) and tax rate
per $1,000 have been:
Years.
Real Estate.
Tax Rato.
Personal.
$40,234,676
$35,232,722
$7 35
40,589,285
33,589,360
7 35
37,975,987
33,335,591
6 37%
1878.
39,263,823
35,125,713
6 37*2
Real Estate.
$173,693,276
38,378,409
36,981,389
6 37**
Nevada is hardly more than nominal, as tho
bonds are principally held in State funds.
valuation, tax rate, Ac., have been:
New Hampshire.—The debt of New Hampshire was created for war
Real
Personal Tax per
Total
Sinking
purposes. The Municipal loan of 1872 was issued to cities and towns,
Years.
Estate.
Property. $1,000.
Debt.
Funds. the proceeds to he applied to their war debts. Total valuation in 1879,
$1,311,031,326 $882,877,758 $14 68 $29,465,204 $13,577,106
$206,959,017. Tax rate, $2 per $1,000. r (V. 29, p. 171.)
1876.... 1,262,141,092 860,958,487 12 80 33,866,464 14,294,238
Nevada.—The debt of
V
• •
STATE SECURITIES.
December, 1880.]
Til
fr
Subscribers will confer
a
great favor by giving immediate notice of any error discovered In tliese Tables.
DESCRIPTION.
For
explanations see notes
on
Date of
Bonds.
first page of tables
Size
par
Value.
INTEREST.
Amount
or
outstanding.
When
Rate.
Where
Payable
Principal—When
Due.
Payable and by
Whom.
New Hampshire—(Continued)—
Loan of 1879
Prison loan
1879
1879
New Jersey— War loan bonds, tax free.
War loan bonds, tax free
do
do
taxable
New York—
1861
1863
1864
1875
1872
1873
1873
1874
1879
$1,000
500
100
100
100
$300,000
Ac.
140,000
500,000
900,900
&c.
Ac.
&e.
595,400
473,000
JPorxQ
1,562,900
778817.$-,0984115632 18769.
976
Canal
debt,
Under Art. 7, Seo. 3,
of Con¬
stitution, and Art. 7, Sec. 12.
<
North Carolina—Funding bonds tax-receivable.
Old bonds in process of funding
1867
1868
i860
1856
1877
1*879
1852
Registered bonds, tax free, 15:25 years
Coupon loan (except $53,000 reg.), April 2....
do
April 2
Stock loan of Feb. 2 (registered)
do
do
(registered)
1852
1867
1867
do
1867
1872
Agricultural College land scrip
1862
1863
$50 &C
Funding bills receivable
Funding bank bills
1,180,000
383,045
44,000
11,366,000
....
1,000
1,000
100
100
100
100
Ac.
&c.
&c.
Ac.
4,072,640
2,400,000
8,000,000
2,000,000
395,000
87,000
1,000
1,000
50 Ac.
50 &c.
50 &c.
9,251,850
814,300
321,750
500,000
965,000
200,000
631,000
738,000
....
1,000
1,000
1,000
1,000
1863
1864
Various
1794
1836 to ’61 Various
1853 to ’54
1,000
1866
50,Ac
1854
1,000
1868
1,000
1868
1,000
1868
500,Ac
1869
500, Ac
1869 to ’70 500,Ac
1838
1838
1869
PajTnent of interest
2,000,000
2,958,000
(?)
2,800,000
1,000
Pennsylvania—Reg. bonds, tax fr., (red’ble ’92).
Funding bonds and stock
Blue Ridge Railroad bonds
847,500
4,302,600
iH
1,000
Penitentiary bonds, act Aug. 24, 1868
Special tax bonds
Ohio— Register’d loan, payable after June, 1881
Registered loan, payable after Dec., 1886
Rhode Island—War bonds
War bonds
do
do
South Carolina—State stock
State House stock
do ’
bonds
iH
500 &c.
Bonds to North Carolina Railroad
Railroad bds, not fund. (Chatham and WAT.).
Registered certificates of literary fund
do
®
o
Conversion bonds and stock.
Land commission bonds
Fire loan bonds, sterling
do
stock, domestic
Bonds—Relief State Treasury
Reduction of Public Debt stock
Dec., 1873
Consolidated bonds, coup. (Funding act)
1873
Various
do
•
stock (Funding act)
1873
Various
New consolidated bonds (brown)
500 Ac.
1879
Railroad endorsements
Tennessee—New funding bonds, act of 1873
1874
1,000
Bonds regist’d, act or 1873,($292,300 are 5s).
Various.
1,000
Held by E.T. University (not to be funded)...
1,000
Texas— Funding State debt (act May 2,1871)..
1872
Frontier def’se,gold,act Aug.5,’70(red’ble ’91)
1871
1,000
Revenue deficiency bonds, act Dec. 2,1871..
1872
1,000
1874
Bonds, act Mar..1874 (for paying float’gdebt)
1,000
1876
1,000
Redemption of debt, act Aug. 6, ’76
1879
100 &c.
Bonds, act April 21, 1879
'
^
m
>
.
W
....
....
....
.
•
•
•
4,023,000
149,254
1,000,000
4^797^608
4;867;000
14,957,300
397,000
75,000
692,000
500,000
1,000,000
•
....
Vermont— War loan
1862
bonds, registered
1851 to ’66
Virqiniu—Old bonds, 23 fundable
Old oonds, sterling, not required to be funded
1851
1871
Consol.) Act Mar. ’71) coup, tax receivable
do
do
1871
reg., conv. into coup...
do
1872
(Act 1872) “Peeler,” cp. not rec’ble
Deferred certificates (W. Va.)
1871
New funding bonds, 10-40s, ($500,060 reg.)..
1879
.
-
do
do
500 Ac
500 &c.
£100 A(
100,&c.
100,Ac.
100,Ac
Various
a
1879
sterling
1,647,000
533,700
135,500
4,689,119
2,209,207
13,700,000
819,547
2,819,547
15,239,370
8,000,000
400,000
A J. Bost. ,Nat. Bk. Commonw’lth
A J.
do
do
6
J. A J. Trenton and Jersey City.
J. A J.
6
do
do
6
J. A J.
do
do
6 g- J. A J. N. Y., Manhattan Co. Bank.
6 g. J. A J.
do
do
6 g- J. A J.
do
do
6 g- J. A J.
do
do
6 g. A. A 0.
do
do
J. A J.
4
New York.
6 Various
do
6
Various
do
6
do
6
J. A J.
Raleigh, Treasury.
6
A. A O.
New York.
6
A. A O.
do
6
J. A J. N. Y., American Exch. B’k.
6
«T. A J.
do
do
J.
J.
5
....
5
4
5 g.
4^g.
6
5
6
6
6
6
6
6
3
6
6
6
6
6
6
6
6
6
5
6
7
6
6
F.
F.
J.
J.
F.
F.
F.
A
A
A
A
A.
A.
J.
J.
A A.
A A.
A A.
Julyl, ’89-’90-’9J
July, 1881 to ’91
Jab., 1881 to’84
Jan., 1886 to’96
Jam, ’97 to 1902
Oct., 1893
July, 1867
Jan. 1,1883
July 1,1891
Oct.
Oct., 1898
1898 to *99
July, 1881
Jan., 1887
Feb. 1,1902
Aug. 1, 1904
July, 1882
July. 1882
Phila., Farm. A Meoh. B’k.
do
do
do
do
do
do
do
do
do
do
do
do
'
Feb., 1892
Feb., 1882-1892
1882
1922
'
M.
A.
J.
F.
g.
g.
-
g.
gg.
g.
g.
g.
g.
g.
g-
S.
0.
J.
A.
Q.-J.
A
J. A
J. A
J. A
A. A
A. A
J. A
J. A
J. A
J.
J
J.
J.
J.
0.
O
J.
J.
J.
Q.-J.
Q.~J.
Harrisburg Treasury.
Providence, R. I. H. A T. Co.
do
do
do
Sept. 1, 1882
do
do
do
April 1,1883
July 1, 1893
Aug. 1, 1894
At pleasure.
Columbia, State Treasury.
do
do
do
do
Columbia and Now York.
Columbia, Treasury.
Columbia and New York.
do
do
do
do
do
do
do
do
1877 to ’86
1871 to ’80
July 1,1887 to ’97
July 1,1875 to *79
July 1,1888
July 1,1888
July 1,1889
July 1,1882
London.
July 1,1868
Columbia.
J. Columbia A Fis. Agen. N.Y.
J.
J.
Columbia, Treasurer.
s
do
J.
do
July 1,1868
J. A J.
Nashville, Treasurer.
do
do
J. A J.
do
J. A J.
■
do
Various
State Treasury.
M. A S. New York, Bank of N, Y.
J. A J.
do
do
do
J. A J.
do
J. A J. New York A State Treasury.
do
do
J. A D.
J. A D. Boston, Nat.Bk.of Redemp.
New York.
J. A J.
J. A J.
London, Baring B. A Co.
J. A J.
Richmond, Treasury.
do
J. A J.
do
J. A J.
J. A J.
J. A J.
J. A J.
July 1, 1914
J.
J.
J.
J.
6
A
A
A
A
A
A
A
A
6
6
5 A
6
6
7
7
7
6
5
6
6
5
6
6
6
6
3 to
3 to
6
g.
g.
g.
g.
5
5
1,1892
1909
1868 to ’98
1888 to ’85
1868 to’98
Indefinite.
1888
July 1,1893
July 1,1893
18?5
to 1900
Various.
•
1891
1911
1892
March 1.1904
July, 1906
1909
Dec. 1, 1890
1886 to ’95
1886
1905
1905
Contingent
1919
1919
h
New
created for war purposes.
Sinking funds
Of the first class of bonds the principal
$100,000 per year. Valuation of real property in 1879,
Jersey.—The debt
was
Jan. 1, 1880, were $1,428,545.
is
payable
531,851,849
1878. State tax
3^2 total, $508,892,338, against
t426,953,103 ;inpersonal, $129,809,670; mills, but the Governor’s
1880. (V. 28,
was
sage says
mes¬
the tax may be abolished in
p.
58.)
New Tor A1.—Valuations and tax rate for State purposes have been:
Real Estate.
Personal.
State Tax.
1876
$2,108,325,872
$357,941,401
3H24
1877.....
2,376,252,178
379,488,140
3l6
1878
2,373,418,490
• 364,960,110
2910
1879
2,333,669,813
353,469,320
286^000
North Carolina— Interest is paid on bonds issued to No. Carolina RR.
as the State holds $3,000,200 stock and receives dividends
thereon. The funding bill of F'eb., 1879, provides for funding old antewar bonds at 40 per cent of the face value; “New ” railroad bonds recog¬
nized as valid at 25per cent; funding bonds of 1866 and 1868 at 15 per
cent. Nothing for overdue coupons. Coupons of the new bonds are re¬
ceivable for taxes, the first coupon of 2 per cent being payable Jan., 1881.
($2,800,000),
Special tax bonds are ignored, and also bonds to Chatham RR. 1868,
$1,030,000, and to Williamston & Tarb. RR., $150,000, and for Peniten¬
tiary under acts of 1868. Assessed valuation of real estate is about 60
per cent of true value. Valuations and tax rate per $100.have been :
Years.
Real Estate.
1877
1878
1879
—(V. 27,
$92,158,245
91,019,834
p.
678
;
Personalty.
$54,212,248
51,228,268
TotalValuation.Taxpr. $100
$146,370,493
38
'142,308,102
157,967,481
V. 28, p. 69, 200, 327; V. 31, p. 45, 560.)
B
Pennsylvania—Sinking fund, $8,504,899. Revenue is raised prin¬
cipally from corporations. Taxes are levied on personal property, which
was assessed in 1877 at $159,318,817.
The State holds $1,754,331 in
stocks and $7,900,000 of railroad bonds. Any coupon bonds may be
changed to registered. The bonds due in 1882 are payable at any time
(V. 28, p. 43, 149, 600; V. 29, p. 192, 330.)
Rhode Island.—The debt
was
all created for
war
purposes.
In Jan.,
1880, the net debt, less sinking fund, was $1,828,013. The State valua¬
tion of real property in 1876 (the latest made) was $243,658,190,
and
personal, $84,872,369; tax rate 1879,12 cents
on
$100.
funding law of Dec. 22,1873, provided for seal,
Years.
Real Estate.
Personalty.
$86,896,002
$48,839,0(^1
1878
85,633,873
41,604,113
76,583,866
43,967,758
-(V. 28, p. 18, 378, 402; V. 29, p. 358, 383
;
Total Val’tion. Tax Rate.$135,735,863
4^
132,237,986
2%
120,551.624
4%
V. 30, p. 118.)
Tennessee—The funding bill propose! was given in V.28, p. 333. The
debt January, 1879, was $20,221,300 in outstanding bonds, and $4,156,522 in overdue interest; there were also $416,000 bonds yet to be
renewed and $373,060 yet to be
registered. The State’s endorsements
for railroads are $1,308,000, which is taken care of by the roads. Ten¬
nessee bonds sold in New York as “ old,” are those issued before 1862;
“New,” issued 6ince 1862; “New Series,” the
new
funding bonds.
Assessed valuations and tax rate per $1,000 have been:
Years.
Real Estate.
Personalty.
Tax Rate.
$239,370,485
$28,632,000
$4
'
212,589,045
24,319,803
1
1
202,340,815
1 '
20,871,338
196,165,644
16,952,036
1
—(V. 28, p. 174, 200,277,353, 429,454, 526, 580; V. 29, p. 226,272, 278,
V. 30, p. 467; V. 31, p. 190, 296, 330, 340.)
,
38
32l3
Ohio— Ohio has a very small State debt, but large local debts, amount¬
ing in 1879 to $41,490,574, against $25,957,588 in 1875, this increase
being mainly in Cincinnati debt. Valuations in Ohio have been as follows;
Real estate.
Real estate.
Personalty.
Personalty.
1860.. $639,894,314 $248,408,290
$490,190,387
1866.. 663,647,542 442,561,379
461,460,552
1876.. 1,076,788,367 520,681,599 1879.. 1,093,768,904 442,979,885
State tax rate, 2910 mills. (V. 28, p. 69 ; V. 30, p. 466.)
till 1892.
South Carolina—The
ing down the old debt 50 per cent. The question of the validity of consolbonds went before the State Supreme Court. See decision V. 29, p. 358.The debt is in process of change into new consolidated bonds (browfl).Valuations and rate of tax per $1,000 have been:
Texas.—'The old high-rate bonds have been redeemed and low-interest
bonds issued. Assessed valuations and rate of tax per $1,000 have been;
Years.
Real Estate.
212,698,432
187,722,374
Personalty.
$83,307,833
106,237,273
115,480,050
186,297,495
114,227,912
$174,324,176
—(V. 30, p. 314.)
Total Val’tion.
$257,682,009
318,935,705
303,202,424300,525,407
Tax Rate.
$5
5
5
5
Vermont.—Of the registered bonds $135,500 are hold for Agricultural
College. Assessed value of real estate, 1879, $71,017,881; personal,
$15,375,533; tax rate, $4 per $1,000.
Virginia.—The law of April, 1879, for refunding the debt, is given in
Chronicle, Vol. 28, p. 353. The new bonds are 10-40 year bonds, and
bear 3 per cent for 10 years, 4 per cent for 20 years, and 5 per emit for
10 years, coupons tax-receivable.
Assessed values in 1878 were:
real
estate, $242,702,503; personal, $73,984,368;
total, $316,686,872. Tax rate. 5 mills. The Governor, in January, 1880, figured
the net revenue for 1879-80 at $2,586,078, leaving $1,397,517 to pay
the interest of $1,075,735 on all the debt if funded under act of 1879.
(V. 28, p. 44, 70, 97, 121, 147, 174, 328, 358, 429; V. 29, p. 198, 331,
505; Y. 30, p. 163, 223, 454; V. 31, p. 88, 484, 578, 609.)
CITY
Till
Subscriber* will confer a great
SECURITIES.
faror by giving Immediate
[Vol. XXXI.
notice of any error discovered In these Tables,
INTEREST.
Date of
bonds.
DESCRIPTION.
For explanations see
notes on first page of tables.
Albany, N. T —Purchase Congress Hall
Block..
City improvement
Washington Park ($40,000 are 5s, due 1920)
.
New Post Office site
High School
^t6r stock
Addit’nal supply ($400,66*0 due 3.900-3,are 7s)
Western Avenue improvement bonds
Bonds loaned to Albany A Susquehanna RR..
Atlanta, Ga.—Bonds for streets, Ac
Bonds. A. L. Railroad for and State House
Bonds for West. RR. and floating debt
Bonds, 1st and 2d series, waterworks
1866
1870-’71
1870-’78
do
Augusta, Ga.—Bonds for various purposes
Baltimore—Consolidated loan of 1890
Water loan, reg. stock, red. at will after 1916
Funding loan, reg. stock, tax free
Consolidated bounty loan
Exempt bounty loan
Public parks (Druid Hill)
Park improvement loan
;
Five million loan to Baltimore & Ohio RR....
One million loan to Pittsb. & Connells ville RR
•New City Hall
$1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1874
1875
1851 A’52
1874-’77
1877
1865
1,000
’66-’67-’72 500 Ac.
1869-’70
1,000
1872 A ’77 500 Ac.
1874
Redemption bonds
Size or
par
value.
1877
1875
Various.
outstanding.
$150,000
448,000
664,000
113,000
70,000
230,000
900,000
165,000
1,000,000
436,000
400,000
418,000
430,000
1,000
500 Ac.
1,000
77,000
52,000
2,033,000
7,306,546
5,000,000
1,000,000
250
100
100
100
100
100
100
100
100
100
100
100
100
Ac.
Ac.
Ac.
Ac.
Ac.
Ac.
Ac.
Ac.
Ac.
Ac.
Ac.
5,000,000
1,000,000
1,000,000
1,000,000
Ac.
500.000
100
100
100
100
100
Ao.
Ac.
Ac.
Ac.
Ac.
943,161
Ac.
85781.7, 1
do
do
Consolidated loan
Court house loan
do
do
Various.
1877
1878
1863
1865
I860
1863
1853
1853
1868
1870
1874
1864
1870
Funding loan
1872
Western Maryland Railroad
Jones’ Falls ($334,600 are 5s)
1872
1873
Valley Railroad
100 Ac.
1874
Water loan ($263,000 only are 6s)
Endorsements for Western Maryland RR
Union Railroad...
do
do
1858 to ’72 100 Ac.
Bangor, Me— City debt proper
1874
1,000
Municipal loan
500 Ac.
1875
Water loan bonds, coup. (Act Feb. 22, 1875).
1869
1,000
European A North American Railroad
1869
1,000
Bangor & Piscataquis Railroad
Bathfie.—Fund.debt($24,500are6s, ’87, J.&J.
Railroad loan
Androscoggin Railroad.
Knox & Lincoln Railroad ($23,750 each year)
do
do
(F.AA.and M.&S)
Bostoiv— For city purposes, war debt. Ac
For city purposes
do
do
registered
do
do
do
Burnt district, sterling loan
'
..
Consolidated street improvem’t, sterling loan.
Roxbury debt, assumed
Dorchester debt, assumed
Charlestown debt, assumed
Mystic water debt, assumed
Brighton debt, assumed
West Roxbury debt, assumed
Water loan, Chestnut Hill reservoir
1861
1869
1871-’72
1852 to ’64
1864 to ’80
1878-’79
1879
1873
1869
i860 to ’64
1861 to ’69
1862 to ’73
1862 to ’76
186S to ’73
410,353
555,566
185,723
85,900
800,000
1,000,000
1,134,600
1,015,300
4,815,800
1,375,000
117,000
136,000
100,000
500,000
1,000,000
925,000
102,500
193,000
425,000
475,000
420,600
3,179,500
10,745,000
516,000
450,000
£100Ac
JElOOAc
1,000
Various.
500 Ac.
1,000
Various.
Various.
1867 to ’71
1,000
1871
£100 Ac
1872
1,000
Water works, Roxbury, coupon and registered 1868 to ’70
1871 to ’74
1,000
do
Roxbury & Dorchester
1871
do
Dorchester, all registered
do
W. Roxbury & Brighton, all reg 1875 to ’77
1876
do
do
reg....
1872 to ’75
1,000
Additional sux>piy water
1878-9
do
do
registered
1878
do
do
do
1879
do
do
< do
1871 to ’74
1,000
Various purposes, for water works
1875-’76
1,000
Water loan bonds, gold, coupon or reg
1877-’78
Public park and school buildings, registered..
1877-’78
Improved sewerage, registered
100 Ac.
1878-’79
Improved sewerage bonds, coup, and reg
Brooklyn—Debt of Williamsburgh, local lnipr’t 1859 to ’61 1,000
1861
1,000
Brooklyn local improvement loan
1857
1,000
Mount Prospect Square loan
1865
1,000
Soldiers’ aid fund loan
1867
1,000
Third street improvement loan, local
1866
1,000
Gowanus canal improvement loan, local
1865
1,000
Bushwick avenue
do
do
do
do
do
2,211,068
Various.
Various.
Various.
Various.
Various.
1,000
1,000
renewal of loan due ’70-71, all reg.
do
’72-73
4,997,604
3,332,107
287,000
68,500
1,060,000
1,153,000
Rate.
6
7
5, 6 A 7
7
7
6
6 A 7
6
6
8
7
8
7
8
10
7
6
5
5
6
6
6
6
6
6
6
6
6
5'
5
6
6
5 A
6
5 A
0
6
6
6
6
6
6 A
5 A
6
6
6
6
5
6
4
.
12,000
268,000
426,000
3,452,000
550,000
168,000
1.290,000
38,000
213,000
90,000
552,000
302,000
188,000
A Ibany.—The loan to Alb. A Susquehanna is secured by first mortgage.
The valuation of Albany* County in 1880 was, approximately*: Real
estate, $49,000,000; personal, $4,500,000 - estimated to about one-liafct!
of true value. City tax rate 1879, 2*84, against 3-20 last y*ear. Popu¬
lation, 90,713 in 1880; 69,422 in 1870.
Atlanta.—The total bonded debt Jan. 1,1879, was $1,815,500; floating
183,000
'
>
Q.-J.
M.
M.
M.
M.
A N.
A N.
A 8.
A S.
Balto., Farm. A Plan. Bank.
Balto., N. Mechanics’Bank.
do
do
do
*
do
do
do
do
Q.—J.
do
do
do
do
do
do
Q.—J.
6
7
6
g.
4*3
5 g.
5 g-
5, 5%, 6
7
5 A 6
5 A 6
5 A 6
5 g.
6
4
5
1*2
6
5 g.
4*3
5
4
6
7
6
7
6 A 7
7
7
July, 1916
Sept. 1, 1893
Sept. 1, 1893
Sept. 1, 1890
Jan. 1, 1*895
Jan. 1, 1890
Jan. 1, 1886
July 1, 1884
April 15, 1900
March 7, 1902
After 1885
At will.
A J. Balto., N. Mechanics’ Bank.
do
do
Q.—F.
J.
6
July 1,1890
July 1, 1916
After
do
Balto., N. Mechanics’ B’k
Q.-J.
6
6
5 g6
6
6
385,000
415,000
375,000
360,000
100,000
648,000
670,000
Due.
F. A A. Boston, Merchants’ Bank. Feb., 1885 to ’94
New York.
March,’80 to 1900
M. A S.
1910-’20
Various*
Mar 1, 1904
M. A N. N. Y., Merchants’ Nat. Bk.
do
do
M. A N.
May 1,1880 to ’85
do
do
Feb., 1881
F. A A.
Feb. 1, 1893-1912
do
do
F. A A.
do
Feb. 1.1883-4-5
do
F. A A.
1895-’97
M. A N. N. Y., Del. A Hud. Canal Co.
J. A J. AtlantaAN.Y.jAm.Ex.N.Bk
1881,’86 A’92
J. A J., 1890
do
do
J. A J.
J. A J., 1902
do
do
J. A J.
do
do
J. A J.
Jan,1, 1904
Jan. 1,1897
do
do
J. A J.
do
M. A S.
do
Sept. 1, 1885
1880 to 1904
Various
Augusta.
Q.—J.
Q.—J.
1,725,000
1,947,273
Payable
payable and by
whom.
=
6*fl A 7
6*3 A 7
688,000
Where
When
do
do
Q.—M.
do
do
Q.—J.
Q.—J. Balto., Farm. A Plan. Bank,
J. A J. Balto., N. Mechanics’ Bank.
Q.—J. Balto., Farm. A Plan. Bank.
57,141
330,000
-
July 1,1900
1, 1902
April 9, 1900
Oct. 31,1886
July 1, 1894
Jan.
do
do
A O.
A J. Baltimore,Register’s Office.
A J. Balto., N. Mechanics’ Bank. Jan. 1 '90 A 1900
Jan. 1, 1895
A J. Baltimore, Franklin Bank.
’
1880 to ’92
Various Boston, Merchants N. B’k.
Jan. 1,1894
Boston or Bangor.
J. A J.
J. A J. Boston, Merch’ts’ Nat. B’k.
July 1, 1905
do
do
Jan. 1, 1894
J. A J.
do
do
A. A O.
April 1. 1899
1887 A 1898
M. A S
City Treasury.
A.
J.
J.
J.
Various
A. A O.
J. A J.
Various
Various
Various
Various
A* A O.
A. A O.
J. A J.
Various
Various
Various
Various
Various
Various
Various
A. A O.
A. A O.
Various
Various
J. A J.
Various
A. A O.
Various
A. A O.
A. A O.
A. A O.
Various
A. A 0.
Various
A. A O.
J. A J.
J. A J.
M. A N.
J. A J.
J. A J.
J. A J.
J. A J.
J. A J.
Boston, Second Nat. Bank.
City Treasnryand Boston.
do
do
do
do
Boston, Treasurer’s Offioe.
do
do
do
do
do
do
1891 A 1902
1880 to ’87
1880 to ’97
1887-’89
Oct., 1889
April. 1893
July, 1899
London, Baring Brothers.
do
1880 to ’84
1880 to’81
1882 to’93
1881 to’94
1880 to’81
1880 to ’91
1880 to 1901
Boston, Treasurer’s Office.
do
do
do
do
do
do
do
do
do
’83, ’85 A’98
April 1, 1891
July 1,1880 to ’99
do
do
do
do
do
London, Baring Brothers.
Boston, Treasurer’s Office.
April, 1901
Oct., 1902
1880 to’99
1901 to 1903
do
do
do
do
do
de
do
do
April, 1906
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
1902 to 1905
Jan., 1901
1905 to 1907
1908-1909
1908
Oct., 1909
1901 to 1904
1905 A 1906
July* A Oct., 1887
Oct., 1897
Jan. 1, 1899
■
r
Brooklyn.
do
do
do
do
do
do
■
r
i
a
O
1881
ffl 1
Municipal property, including waterworks, about
1880 to ’81
1891
1887
1885 to ’94
1880 to 90
1880 to’90
$800,000.
Popula¬
in 1870.
Bath, Me.—The city holds a first mortgage on the Androscoggin road
for the debt, and second and third mortgages on the Knox A Lincoln for
its proportion of $895,000 out of a total or $2,395,000 bonds issued by
tion, 16,851 in 1880; 18,829
several cities in aid of the latter road. Tax valuation, 1877, $7,267,690;
$382,415. Assessed value of real estate in 1878, $12,230,000; tax rate, $24 50 per $1,000.
personal, $5,766,530. Tax rate for all purposes, $2 30 per $100. Popu¬
Boston.—The population of Boston in 1870 was 292,497, against
®
lation, 37,825 in 1880; 21,789 in 1870.
177,840 in 1860; in 1875 it was 341,919. The total funded debt April
Augusta.—Of this debt, $600,000 was issued for railroads, and balance 30,1880, was $42,030,125, and net debt, $27,842,104. The tax levy is
for canal enlargement, water works, Ac. Sinking funds, May* 1,1880, divided as follows: State,
$619,110; county*, $260,000;city, $8,587,786.
$117,750. Taxable valuation in 1880: Real estate, $9,010,960; per¬ The rate on $1,000 is divided as follows: State, 86 cents; county, 27
sonal, $5,028,107; tax rate, $1 58 per $100. (V. 28, p. 17.)
cents; city, $14 07; total, $15 20, against $12 50in 1879. Assessed
Baltimore—The fiscal year of Baltimore ends now with December 31* valuation on May 1 for five years have been :
Real
Personal
Tax
instead of October 31. The total of all sinking funds, January, 1880*
was $7,091,719.
Rate.
Estate.
' Estate.
Net Debt.
The Baltimore A Ohio Railroad pays interest on Years.
$5,000,000: Water loan is paid by* income of water works, and Public 1876
$526,157,900
$222,838,310
$12 70
$27,052,778
Park by City Passenger Railway*, and against a total debt of $35,023,798, 1877
481,407,200
205,433,386
13 10
27,480,524
the city has $18,915,623 productive assets, leaving $16,108,174, against 1878
440,375,900
190,070,966
12 80 26,159,777
which are held $4,807,472 of unproductive assets; interest is raised by 1879
428,786,300
184,545,700
12 50
26,229,666
axation on $13,119,953 of debt. Population in 1870 was 267,354, against
437,230,600
201,858,600
15 20
27,842.104
212,418 in 1860. The assessed valuation and rate of taxation have been: -(V. 28, p. 445 ; V. 31, p. 303.),
Real
Total
Personal
Rate of Tax
Brooklyn.—The whole city* debt was as follows on January 1,1880:
Estate.
Years.
Property.
Valuation.
per $1,000. Permanent debt, $18,693,000; water loan, $11,216,500; temporary
$163,543,890
$71,000,000
$231,365,863
$19 72^ debt, $9,688,000; tax certificates, $3,120,000; total, $42,717,500; less
162,539,157
70,000,000
228,816,110
19 72^
$5,152,130; net
Tax rate
178,572,032
77,533,309
256,105,341
19 72*3 sinking fund, in 1870, 396,200, debt, $37.565;369.in 1880. 1880, $26 70.
against 554,465
Population
Valuation of
179,958,592
70,308,003
249,266,595
19 00
property and tax rate per $1,000 for five y*ears have been:
183,580,023
60,463,158
244,043,181 '
15 00
Years.
Real.
Personal.
Rate.
187,387.000
65.613,000
252,900,000
13 70
$208,904,750
$16,287,125
$34 27
Assessed valuation is near the full cash value. (V. 29, p. 562; V.31,p.509.)
213,134,543
,
13,878,580
32 54
Bangor, Me.—The loans to Eu. <S^No. Am. R. R. to Bangor & Pis. R. R.
216,481,801
3172
13,111,215
are secured by* first mortgages on tnose roads, and interest mostly paid
218,373,093
14,968,911
27 00
from the coinings. Valuations (near full value) and tax rate have been:
3879..,
221,000,000
11,900,000
25 50
Years.
Real Estate.
Tax rate.
Personalty*.
$6,703,527
$3,202,573
30*25 The debt of Kings County, separate from the debt of Brooklyn, is
6,598,927
3,043,534
21*33 about $4,000,000, of whioh the city is responsible for nineteea1879
6,381,853
2,092,211
22*50 twentieths. (V. 28, p. 41.)
debt,
•
Principal—When
Amount
CITY
December, 1880.J
Subscribers will confer
SECURITIES
IX
great favor by giving immediate notice of any error discovered in these Tables.
a
DESCRIPTION.
Date of
Bonds.
Size
par.
For explanations see notes on first page of tables
Value.
INTEREST.
Amount
or
outstanding
‘
Rate.
When
Principal—When
Where Payable and by
Whom.
Payable'
Due.
Brooklyn—( Continued)—
South Seventh st.improvement loan, local
1866
Union street
do
do
do
1867
Fourth avenue
do
do
do
1862 & ’6'i
Wallabout Bay
1867
do
do
New York Bridge loan, registered and coupon
1870
Bonds for N. Y. & Brooklyn Bridge, cp. or reg.
1876-’79
1860 to '72
Prospect Park loan, registered and coupon
1860 to ’72
Prospect Park loan
Permanent water loan
1857 to ’72
do
do
1872 to ’75
Sewerage fund bonds, continuous, local
1877-8-9
do
do
S’th B’klyn 1877-8-9
Assessment fund bonds, continuous, local.... 1877-8-9
Central and Knickerbocker av. sewer bonds..
1870
Boulevard bonds
1873
Temporary tax certificates
1876 to *78
Buffalo, N. S'.—Funded debt bonds
1853 to’75
Buffalo & Jamestown Railroad
1873 to ’75
Buffalo New York & Philadelphia Railroad... 1871 to ’73
Water works bonds
1868 to ’7G
Water bonds," coupon
1876
Park bonds (Act May 17,1875)
1876
Tax loan bonds
1876-77-78
$1,000
....
...
$218,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
..
....
260,000
346,000
406,000
i;ooo
1,000
1,000
1,000
1,000
1373-’74
1874-5
1866
1866 to ’77
1865
1867 to ’75
1869-71
Charleston, S. C.—City stock
City bonds, coupon
•
•
•
Conversion bonds, to redeem past-due debt...
coup, or reg. (non-taxable)
•
•
•
•
do
•
•
^
o
•
•
Water loan
Sewerage bonds
....
do
1,000
1,000
1,000
500 &c.
River improvement bonds
.
.
.
1,000
1,000
.
Municipal bonds
Municipal and School bonds
South Park loan (secured on South. Div.)
West Chicago Park (secured on West. Div.)...
Cook County debt.
Cincinnati- Loans to Railroads.F,A, G,H,I& M
Bonds to O.& M. RR. to purchase whf. prop.N
Bonds for erection of a Workhouse
Bonds for Waterworks
C2&C3
Bonds for Common School purposes
P
Bonds to O. <fc M. RR. to purchase whf. prop. .N
Bonds for ext. and impr. Water W. .C, D. & E
Bonds for funding floating debt
A2
Bonds for new Hospital
S&S2
Bonds for funding floating debt
L
Extension and improve. Water Works.. .K &F
Bonds to purchase Orp’n Asyl. grds. for park.O
Bonds for sewerage
R
Bonds for improving Gilbert avenue
U
Bonds to build Eggleston avenue sewer... .B3
Bonds for improvement
W
Bonds for Water Work purposes
C4&C5
General improvement
W2
Cincinnati Southern RR
do
do
do
do
($3,142,000 are gold 6s)
do
do
coupon
Dl
U2
sewer
Hospital bonds
Street improvement bonds, short
Buffalo.—In 1875
500 &c.
1,000
1,000
1,000
1,000
500,&c.
1,000
1,000
•
Chicago—W ater loan
.
1,000
100 &c.
•
•
•
Floating debt bonds,
.
•
1879
coup
Water loan, coup
Park improvement
Water-works bonds
Bonds for McLean Ave.
500 &c.
500 &c.
1853 to ’54
1866
Fire loan bonds, coupon
do
1,000
1878
1879
1000 &c
1880
1,000
1858 to ’63 500 &e.
1864
1,000
1863
1,000
1856 to ’76 500 &c.
do
do
do
do
Water loan
do
do
do
do
Chelsea, Mass.—Funded debt,
Funded debt, coup
1,000
1,000
1,000
real and
500 &c.
1870
1,000
1865 to ’80 500 &c.
1844 to ’54
1,000
•
1855
1,000
1868
1,000
1868
1,000
I860 to ’61
1,000
1855
1,000
L847 to’50 500 &c.
L847 to ’48 500 &c.
1867-’68
1,000
1853 '
1,000
1853
1,000
1858
1,000
1869
1,000
1869
1,000
1869
1,000
1871
1,000
1871-’72
1,000
1871
1,000
1872-’74 500 &c.
1874
1,000
1876
500 &c.
1878
1,000
1874
1,000
1875
1,000
1875
1,000
1,000
1876
1876-’77
personal
property
....
assessed
was
Real estate.
$91,130,870
Personalty,
$8,844,705
at
per $1,000.
$12 43
7,947,380
17 60
Buffalo also pays 7-10 (being $712,390) of Erie
county debt. Coupon
bonds are exchangeable for registered. Population,
154,766 in 1880;
117,714 in 1870.
Cambridge, Mas8.—The sinking funds amounted to $605,281, Novem¬
ber, 1879. The investments are nearly all in city bonds at par and
stamped “ not negotiable. Only $52,000 debt matures before 1881.
Tax valuation, 1875, $66,623,014; 1877
$55,000,000; 1879. $49,238,098. Total debt, November, 1879, $3,254,000.
Population, 52,860 in
1880 ; 39*634 in 1870.
.
Charleston, S. C.—The bonds
of Charleston are mostly held within the
State of South Carolina. Conversion bonds of 1879 are issued in
exchange for city stock. Assessed valuations and tax rate have been:
Real
Personal
Rate of Tax
Estate.
Property.
A...
$18,805,480
$9,000,990
18,669,623
7,922,155
18,313,450
8,108,706
17,137,255
6,272,458
—Population, 49,027 in 1830; 48,956 in 1870.
per
$1,000.
$20
22
22
20
00
50
50
00
Chelsea, Mass.—Sinking fund, January 1,1880, $123,304, and gross
debt, $1,661,800.
Tax valuation, 1879, $15,377,402; tax rate, $19 80.
Population, 21,780 in 1880; 18,647 in 1870.
Chicago— The net fnnded debt January 1, 1879,
was
$13,057,000.
Old certificates of indebtedness, $321,000. Advances and
warrants,
$2,210,401. The city debt is limited to 5 per cent of the Illinois State
valuation. A decision of the Illinois Supreme Court in Feb., 1878, held
the certificates of debt issued prior to May, 1877, as a violation of this
and void. A subse<vuent decision held
city scrip of 1878 valid. Of the
1880 to ’90
1880 to’86
1880 to ’95
1880 to ’90
1901 to ’24
1907 to 1912
1915 to ’24
1915 to *24
1881 to 1908
do
do
eg
I
.
•
....
....
funded debt, $4,248,000 is on account of the Water Works, which in
1878 yielded an income of $897,176.
Assessed Value.
s
Tax:
Years.
Personal.
Real Estate.
Rate*
80,929,165
Years.
Brooklyn
.
$39,968,105; in 1876 rule of valuation changed and assessment was
$111,995,905. Since that date valuations have been:
Tax Rate
Yeai*8.
J. & J.
J. & J,
J. & J
GO
J. & J
do
as q
J. & J,
3,000'000
do
«
do
&
5,150,000 5, 6 & 7 J. & J.
7
J. & J.
8,019,000
do
C3 O
6
J. & J.
do
1,217,000
^ P
► ini <
J. & J.
6
do
9,777,500
53 ffl
A
7
J. & J.
do
1,439,500
do
3 years from date
lj650'000 4,5,7 J. & J.
J. & J.
7
0 a
do
3 years from date.
100,000
C.M
do
4,530,000 4, 5, 6, 7 J. & J.
3 years from date.
J. & J.
7
O
do
618,000
1880
^
J. & J.
7
do
842,000
1875
6 & 7
3,120,000
1878-1881
RnfFuln and Naw Vnrk
*7
Various
2,099,250
1880 to 1895
7
Various
1,000,000
Buffalo.
1893 to 1895
7
Various
Buffalo and New York.
700,000
1881 to 1893
7
Various
do
2,729,382
do
1880 to 1926
J. & J.
6
N. Y., Gallatin N. Bk.
100,000
July 1,1896
M. & S.
6
100,000
Buffalo & New York.
Prior to 1936
do
704,632 5, 6 & 7 J. & J.
do
July, 1880-’83
5
M. & S.
do
do
50,000
Sept. 1, 1898
5
Various
175,000
do
do
1899
4
M. & S.
do
do
150,000
Sept. 1, 1904
5
Various Boston, Bank Redemption.
99,000
1880 to 1882
5
A. & O.
do
100,000
do
April 1,1889
5 g. J. & J.
150,000
Boston, Tremont Bank.
Jan.1,1893
6
J. & J. Boston, Bank Redemption. Jan. 1,1881 to ’96
1,597,000
6
J. & J.
do
do
Jan. 1, 1903-4-5
689,000
A. & O.
6
do
do
514,000
Apr. A; Oct. l,’84-5
6
J. & J.
do
do
100,000
July 2,1386
6
J. & J.
do
do
774,000
July 1,1881 to ’97
6
F. & A.
do
do
55,000
Aug. 1,1883
A. & 0.
6
do
do
485,000
Apl. 1,1887-18(95
M. & N.
6
do
do
162,000
May, 1889-1891
6
Charleston.
1878 to ’98
1,603,150
Q.-J.
6
Various
do
1883 to ’84
51,500
7
J. & J.
do
231,400
1890
A. & 0.
7
do
500,000
4
J. & J.
do
3,235,900
1909
A. <fc O. Boston, N. Bk. Redemption
149,000
5*2
1879 to 1833
6
Various
do
1,170,000
do
1879 to 1395
7
F. & A.
do
100,000
do
Feb. 17, 1883
6
F. & A
200,000
do
do
Aug. 1,1887-’95
6
J. & J. N. Y., Am. Ex. Nat. Bank.
624,500
1880 to ’98
7
J. & J.
do
3,625,000
do
Julyl, ’82 to ’9o
6
J. & J.
do
87,000
do
July 1,1880
J. & J.
7
do
2,543,000
do
1880 to ’95
J. & J.
7
do
2,611,000
do
1890 to ’95
6
J. & J.
do
195,000
do
July, 1895 & ’96
7
J. & J.
do
3,408,000
do
1881 to ’99
7
J. & J.
New York (see remarks.)
2,000,000
(?)
7
J. & J. N. Y., Nat. Bk. of Com’ce.
640,000
1890
4,941,500 4*2 to 7 M. & N. N. Y., Metropolitan Bank. May 1,1885-’92
6
Various N. Y.t Am. Exchange Bank.
1,062,000
1880 to’84
6
M. & N.
do
do
210,000
Nov., 1885
7 3-10 J. & D.
do
250,000
do
June, 1883
7 3-10 Various
do
300,000
do
1888 & 1889
6
J. & J.
do
do
99,000
Jan., 1890
M. & N..
6
do
do
195,000
Nov., 1890
6
A. & O
do
do
397,500
April 1,1895 .
M. & N
6
do
do
146,500
March, 1897
7 3-10 Various
do
do
750,000
1897
6
J. & J.
do
do
60,000
Jan., 1900
6
do
Various
do
June & Oct, 1900
175,000
6
M. & S.
Cincinnati.
100,000
March, 1908
7 3-10 M. & S. N. Y., Am. Exch. Nat. Bk.
150,000
Sept., 1899
7 3-10 M. & S.
do
do
150,000
Sept., 1899
7 3-10 A. & O.
do
do
100,000
Oct., 1899
do
7 3-10 M. & S.
do
March 1,1886
136,000
F. & A.
7
do
do
450,000
Aug., 1886-’97
7
J. & D.
do
do
Dec. 1,1891
600,000
7
J. & J.
do
do
580,000
July 1, 1902
7 3-10 j: & J.
do
do
9,237,000
Julyl, 1902
New York or London.
5,078,000 3g. or 7*3 M. & N.
May 1, 1906
6 & 7
M. & N. *. Y., Am. Exch. Nat. B’k. Nov. 1, 1908-’09
2,000,000
7
M. & N.
do
do
1,000,000
May 15,1904
7
J. & J.
do
do
50,000
Jan. 1, 1896
7
F. & A.
do
do
300,000
Aug.,’85. ’90 A '95
5 & 6
M. & N.
do
do
175,000
May 1889-1909
M. & N.
do
7
do
50,000
May 1,1906
1880 to’83
395,291
753069788118778811
Water bonds, reg
Bonds, coup, or reg
Bonds, wafer, &c., coup, or reg:
Cambridge, Mass— City bonds
City bonds
1,000
7
7
6 & 7
7
7
/
$253,557,900
.131,222,460
$38,061,170
36,815,718
24 08
116,082,533
104,420,053
;
32,317,615
27 40
28 60
$29 40
27,561,383
The assessed value of real estate is about one-half of its time
value,
Population in 1870 was 306,605, and in 1880, 503,298. The South Park,
West Chicago ±'ark and Lincoln Park loans are not debts of the city,
but of distinct corporations.
(V. 28, p. 223 ; V. 31, p. 652.)
Cincinnati.—In addition to the issues above named there remains
several smaller amounts, as follows: $108,000 5s, November, 1884;
$56,000 (YY2, & O.) 6s, 1886-88; $17,000 6s (Q.), November, 1890;
>>27,000 6s (A.), March, 1897; $50,000 (H2.), August, 1897. City holds
$950,000 of Cincinnati Southern bonds in sinking funds. In 1870 the
population was 216,239, against 255,804 in 1880. The following table
from the books of the Auditor of Hamilton County, Ohio, exhibits the
assessed valuation of the
1870 to 1879:
Years.
1860
city of Cincinnati in the
year
1860, aud from
Real
Personal
Total
Tax per
Estate.
Estate.
V ablation.
$1,000.
$17 45
31 60
$61,620,904
$31,411,912
$93,032,716
78,736,482
123,427,888
119,621,856
121,479,280
123,231,790
57,370,754
56,934,044
55,462,410
.64,166,460
58,708,284
58,521,730
56,809,066
43,830,188
136,107,236
125,976,835
127,143,900
129,043,880
180,361,932
22 20
175,084,296
20 10
185,645,740
181,950,074
183,952,966
23 06
23 38
28 82
27 04
179,430,142
172.874,068
29 lO
28 54
184,498,565
169,305,635
117,153,460
The city is the sole owner of the stock of the Cincinnati Southern Rail*
road, which is leased to a company formed to operate it. (V. 27, p, 94#
172, 251, 280, 677; V. 28, p. 624; V. 29, p. 17; V. 30, p. 465, 566.)
CITY
i
— ■■
■
i
m
n,
....
.
SECURITIES.
(Toi*. XXXI.
favor by giving Immediate
-
—
.
■
Rflbicriberai will confer a great
notice of any error discovered, in these
INTEREST.
Size or
par
value.
Date of
DESCRIPTION.
bonds.
For explanations see
notes on first page of tables.
Cleveland—Water works ($225,000 are 6 p.
Funded debt ($100,000 are 6 p. ct.)
Lake View Park
Canal and canal look
School ($294,000 are
House of Correction
ct.).
6 p. ct.)
Main sewers, special assessment
Street improvem’ts do
Street damages, Ac., do
Amount
$....
1856 to ’76
1863 to ’79
1872 to ’74
1874 to ’79
1864 to ’71
1868
Various.
315,000
275,000
355,000
184,000
493.500
830,300
Elizabeth, N. J\—Improvement bonds
Funded debt bonds
School House bonds
Market House bonds
Consolidated improvement bonds
Funded assessment bonds..
128,000
1,000
1,000
1,000
1,000
1,000
1875
1878
1855 to’76
1859 to ’71
1872 to ’76
1879
1871 to ’74
1870 to’75
1872 to’73
1865 to’66
1875-’76
bonds
*
Water works bonds
Redemption bonds
do
do
do
do
do
do
1,000
1,000
1,000
1868
1869
1869
1869
1870
1876
1876
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
Large.
1,000
Fall River, Mass. -City notes.
lOOOAc
City bonds
do
doWater loan
do
do
1,000
1,000
1,000
1,000
1,000
«.
Fitchburg, Mass.—City notes
City bonds
Galveston, Texas- Bonds for various purposes.
Limited debt bonds (sinking
Bonds to purchase blk. 321
Galveston County bonds, G.
1872
1873
1871
1875
1869 to ’75
1877-8-9
1873
1876
-
Water loan
do
.
1,000
1,000
1877
1878
Evansville, Indiana—E. H. A N. RR. bonds
City wharf bonds
E. C. AP. RR. bonds
do
do
fimd 2 per cent).
C. A S. F. RR
2,135,000
5,-6, &
174,000
229,000
175,000
1,400,000
600,000
340,000
100,000
254.500
736,000
90,000
66,000
2,471,000
698,000
241,000
250,000
100,000
96,000
200,000
300,000
300,000
105,000
100,000
100,000
280,000
250,000
600,000
400,000
200,000
372,000
Water bonds
do
do
dO
1,00*0
1,000
1,000
Capitol bonds
1,000
1,000
1,000
1,000
1878-’79
Hartford town debts to railroads
do
do
war
do
funded debt
1871-’74
1874
($60,000 are J. A J.).
Cleveland.—The sewer, street improvements and
for
funds have been:
1,000,000
1,250.000
130,000
205,000
271,000
250,000
7 3-10
7
7
6
6
7
5, 6,7
lg'
.
6
6
6
7
6
6
6
10
8
8
10
6
6
6
6
5
6
6
6
6
Where
payable;
payable and by
whom.
500,000
300,000
300,000
300,000
200,000
109.500
1,163,000
3,109,800
416.000
622,000
1,869,000
2,161,500
125,000
•
.—Total Bonded Debt—v
$71,296,122
$1,009.
18i52o
70,139,639
171720
General.
$6,061,000
6,678,000
Speoial.
$2,993,164
2,606,100
Sinking
Funds. Ac.
$2,109,357
1,816,690
500,000
860,400
162,550
150,000
Various N.Y., Amer.
do
Various
do
do
do
do
do
do
do
do
do
do
*
due.
do
V., Metropolitan N. Bk.
do
do
do
do
do
do
Y., Farmers’ L. & T. Co.
do
do
do
do
do
do
do
do
Y., Farmers’ L. A Tr. Co.
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
A D.
& J
A O.
& N.
& D.
1893 & 1907
July, 1885
July, 1888
1879 to 1906
1879 to’91
1892 to’94
1899
to’81
to ’95
to’93
to ’86
to ’96
1879
1880
1881
1879
1885
May 1, 1893
May 1, 1899
Dec. 1, 1890
Dec. 1, 1895
July 1, 1895
April 1, 1906
May 15,1906
June 1,
1907
April 15,1908
'
A.
J
J
A
J.
J
A J
& J
A J
&
A
A
&
A
&
City Treasury,
do
Suffolk Bank, Boston.
Merchants’ Bank, Boston.
City Treasury,
do
Town Treasurer,
do
do
6 & 7
Varioui
City Treasury,
6
6
7
6
6
A. & O
J. & J
A. & O
do
do
do
Jan.
City Treasury.
N. Y., Winslow, L. & Co.
7*3
73
6
7
6
7
7
7
7
7
6 & 7
7
7
1880-’81-’82-’83
1881 to 1888
Various
City Treasury,
1880 to 1891
do
Various
Aug. 1, 1894
F. & A.
Boston, Revere Bank.
May 1,1895
M. A N. Boston, Bank Redemption,
Nov. 1,1879-1880
do
do
M. & N
Nov. 1, 1892-1906
do
• do
\I. & N.
do
do
Aug. 1, 1899-1905
F. A A.
Nov. 20, 1882
M. & N
City Treasury.
July 1, 1893
J. & J. Boston, Merchants’ Bank,
do
do
July 1, 1891
J. & J.
do
do
July 1,1895-1906
J. A J.
1880 to ’91
Galveston,
Various
1907-1909
do •
M. & S.
1893-1902
do
M. & S.
1906
N. Y., Bk. of New York.
& J.
June 1, 1880
& D. Merchants’ Bank, Boston.
do
do
July 1, 1881
& J.
July 1, 1890-95
& J
Phoenix Bank, Hartford.
6
6
73
7*3
73
1880 to’95
1880 to ’94
1887 to’92
1894 to ’96-’98
1878 to ’88
1883 & ’84
1880 to’92
1880 to’84
1880 to’86
June, 1880
New York,
do
A N N.
& N.
& D.
M.
M.
J.
J.
J.
A.
M.
J.
Exch. Nat. Bk.
do
do
do
do
do
do
do
do
do
Various
Various
V arioii8
A. & O.
Various
Various
Various
Various
Various
J. & D.
J. & J.
J. A J.
Various N.
Various
F. A A.
4*2
155,000
debt and sinking
Tax per
Personalty.
7
7
226.500
1
Real
Years.
300,000
street opening bonds
assessments on the
special local improvements, and redeemed by
property benefitted. Assessed valuation, tax rate,
are
130,000
1,000
1,000
1,000
1872
1873
500
1869 to’70
Bonds to railroads
Indianapolis—
1877
1,000
Bonds to Un. RR. Tr. Stock Yard (mortgage).
1873
1,000
Loan bonds, series A
1874
1,000
do
do
B
1874
1,000
do
do
C
1875
1,000
do
do
D
500
1874
Purchase-money bonds—Southern Park
1,000
Jersey City—Water loan bonds, mostly coupon. 1852 to’67
1869 to’73
1,000
Water loan bonds, mostly coupon
1877
1,000
do
do
do
1873
1,000
Forty-year bonds
500 &c
1871
Improvement bonds
1872 to’76
1,000
do
do
1870
1,000
Morgan street dock
1872
1,000
Funded debt bonds
Various.
1,000
-Old Jersey City bonds, coupon....
Various
Various.
Hudson City bonds
1869
1,000A<
Bergen school loan bonds
do
do
7
130,000
Holyoke, Mass— City notes
City bonds, sinking fund
Railroad loan
j
Various
A. A O
7
100,000
418,200
408,600
35,000
414,000
50,000
125,000
475,000
202,000
200,000
500,000
1,000
Water loan
When
Various N.
Various
Various
7
7
7
7
50,000
400,000
300,000
1,000
for $500 each)
4
7
850,000
100 &c
City bonds (H. P. A F. RR.).
10
7
7
7
7
6 & 7
-
1,000
1,000
Hartford, Conn—Water bonds
Park bonds (4 of these bonds are
Funded debt
.6 & 7
6 & 7
6 & 7
6
169781879.781
fund
purchase Belle Isle
Tax arrearage
6 & 7
6 & 7
7
7
6 & 7
7
$1,275,000
1,534,000
1,066,300
Detroit,Mich.—For Water W.Co., on city’s credit
Public Building stock (City Hall) bonds
Public sewer bonds ($40,000 are 6s)
Bonds for
Rate.
('
1876-77-78
Infirmary and River dredging
Viaduct (mostly F. & A., A. & O. and J. & D.) 1873 to ’78
1870
Des Moines, Iowa— Bridge bonds
Renewed judgment and loan
Funding bond fund
Principal—When
,
outstanding.
Tables.
J.
J.
J.
J.
J.
J.
J.
& J
&
do
do
do
A
&
&
A
&
Various
J. & J
J. & J
M. & N
Various
J. & J
M. A N
Various
Various
J. & J
Aug. 1,1882
Jan.
Jan.
A ’84
1, 1893
1, 1897
$10,000 yearly.
1879 to 1886
Qct. 1, 1889
Jan. 1,1900
Jan.AApr.l, 1894
do
do
do
do
Jan. 1, 1889, to’£0
Jan. 1, 1897
July 1, 1893
July 1, 1894
July 1, 1894
July 1, 1895
Jan. 1, 1899
do
Y., Merch. Ex. N. Bank. Jan., 1879 to ’95
do
do
N.
.
Aug. 1. 1900
June 1, 1904
June 1, 1891
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
1899 to 1913
July 1, 1907
July 1,1913
May; 1891
1892 to 1906
June 8, 1900
May 1,1897
1880-’90
’84-’85-’89A1900
Jan., ’98 to 1900
Mass.—The sinking funds amounted to $281,000, Jan. 1,1880.
including water debt, $3,186,000. Population, 48,626 in
1880; 26,766 in 1870.
Fall River,
Total debt,
Filchburg, Mass.—Sinking fund, $101,000. Total net debt, January,
1880, $737,283. Population, 12,270 in 1889; 11,260 in 1870, Valua¬
tion. tax rate per $1,000, Ac.:
Years.
Real Estate. Pers’l Prop’ty.
1877..
$8,034,325 $2,633,994
1878
7,197,125
2,373,872
1879
6,820,575
2,208,818
—The assessed valuation of real estate
Tax.
Debt. Sink’g Fd.,Ac.
$118,382
15 80 $896,395
16 20
900,000
138,441
17 80
895,803
158,708
is about the oash value.
Galveston, Texas—The total city debt is $865,500, all of which is
10 per cent currency, except $35,000 park 8s, due 1892-1902, and
the limited debt bonds. Assessed value of real and personal property,
1878, $17,000,000, Tax rate, $1 25 on $100. (V. 25, p. 283.)
Hartford, Conn.—'Total debt, April, 1880, $3,032,000; net, after
deducting resources, $2,199,768. Assessed valuation in 1878, $44,001,245. Population, 42,569 in 1880; 37,180 in 1870. (V. 28, p. 599.)
Holyoke, Mass— Bonds all coupon, but can bo registered. Sinking
funds, $45,500. Total net debt, January. 1880, $952,500. Tax valua¬
tion, 1877, $9,399,820. Population, 21,961 in 1880; 10,733 in 1870.
Indianapolis—The School Board is a distinct organization and levies
its own tax, which is included in tax rates. There are a few other
bonds, in all about $50,000. Valuation and tax per $1,000 have been:
Personalty.
Tax.
Total.
Years,
Real Estate.
$13,474,550
$60,456,200
$14*00
.‘ $46,981,650
....
15i2n
6,201,000
2,390,100
2,267,934
70,548,104
/u,;h8,’ui
io‘20
—Population, 155,946 in 1880; 92,829 in 1870.
Des Moines, Io wa — Assessed value of property, $5,104,240, which is
about 50 per cent of true value. Tax rate, $5 per $100.
Detroit, Mich.—The population in 1870 was 79,601; in 1880,116,027.
The value of water works is $2,559,259, against a debt of $1,400,000.
The water works bonds are issued on a pledge of the city credit, and
$75,000 per year collected in taxes to pay int. on them. Assessed valua¬
tion, in 1879-80—real property, $63,981,315; personal, $19,216,725;
total, $83,198,040, against $87,865,685 in ’78 and $93,709,375 in ’77,
which is made on the basis of true value. Tax rate, $1*03 per $100.
Elizabeth, N. J.—Default was made in interest Feb. 1,1879, see V. 28,
p. 146. Suits on bonds are pending. Total bonded and floating debt Jan.
jL, 1880, was stated at $5,400,000. Estimated true value of real and per¬
sonal property is $28,000,000. Population in 1880, 28,243; in 1870,
20,832. Assessed valuation, tax rate per $1,000 and debt have been:
Years.
Real Personalty. Tax Rate.
Debt.
$4,876,000
$16,768,950
2*66
4,900,000
268
16,250,805
55,367,245
11*20
11,825,645
43,541,600
5,130,000
15,289,888
2-50
10,873,575
50,029,975
10*80
39,156,400
5,380,000
3*56
14,614,918
9.813,705
9*30
48,099,940
38,286,235
5,400,000
1879
11 530 031
2Y2
—Population, 75,077 in 1880; 48,244 in 1870.
In 1879 no interest or sinking fund was raised. (V. 28, p. 146, 599, 624,
641; V. 29, p. 120, 225, 277, 357, 563 ; V. 30, p. 589; V. 31, p. 122.)
Jersey City— One of the main causes of the temporary
Evansville, Ind.—No floating debt. Assessed valuation (true value), of Jersey City is found in the failure to collect back assessments. The
Comptroller, in Jan., 1880, made the following statement in liis
tax rate per $1,000 and debt have been :
Total taxes overdue Dec. 1, 1879, less deductions
$2,268,145
Debt.
Years.
Real Estate.
Personalty.
Tax.
-3,044^13^
$1,555,000 Total assessments due and unpaid.
$15,486,225
$6,113,205
$12 50
1,551,000 The total debt of the city January, 1880, was $16,808,000; sinking
14.566,955
5,086,315
‘ 11 40
1,551,000 funds, $1,069,565; taxes duo ana unpaid, $2,268,145. Population in
12,381,475
4,926,250
15 00
.
embarrassment
report:
xf
SECURITIES.
CITY
December, 1880.]
by giving immediate notice of any error discovered in
Subscribers will confer a great favor
these Tables.
INTEREST.
Date of
Bonds.
DESCRIPTION.
For explanations see
notes on first page of tables
Jersey City— ( Continued)—
Bergen street improvement bonds
do
bounty loan
Greenville street improvement bonds, &c
Assessment funding bonds
Revenue bonds, coupon or
1869
Various.
Various.
1875-’76
1876
1878
1879
registered
Two-year temporary loan
Bonds to fund floating debt, &c., coup, or reg.
Kansas City, Mo.—Bonds
Bonds
.r..
Bonds
7978811
Size
outstanding.
l,000&c
....
....
....
....
....
....
Q
©
®
1859 to ’64 5000&C.
1862 to ’75 5000&C.
Lawrence, Mass.—Funded debt
Funded debt
1874
do
Water loan
1873-’75
Lewiston, Me.—City bonds ($25,000 each year).
City bonds ($50,000 each year)
do
($110,000 due 1885, $210,000 1891)
Lewiston & Auburn Railroad
....
m
m
m
1852
1854
1857 to ’67
1873
1866 to’67
1873
1871 to ’73
1853 to ’70
1868
1871
1868 &’73
Louisville, Ky.—For Jeffersonville RR. stock...
Subscription to stock of L. & N. RR
Water works
do
For
improvement of streets
Re-constructing street
Public buildings and institutions
Public school and school houses
Sewer bonds
do
Elizabeth & P. Railroad
Wharf property
’54,’62,3, 8
Jail bords
For old liabilities
do
do
Louisville, New Albany & St. L. Air Line RR.
Change of gauge, Louisv., Cin. & Lex. RR
Road bed
do
do
City bonds nay’ble by RRs. (mostly L.& Nash.)
....
Loan of 1880
Lowell, Mass— City notes
Water notes
Water bonds
Lynn, Mass— City notes
•
1868
1869
1870 to ’74
1871
1871
1871 to’73
1851 to’63
1880
1852 to ’75
1871 to’76
1870
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
Large.
Large.
1,000
Large.
1870-’3-’5 Large.
1,300,000
175,000
....
Water notes
Water bonds
Funded debt
121,500
450,000
387,500
44,200
1.000
1871-’4-’6
1862 to’76 500 &c.
1857 to ’67
1,000
City Hall and School House
Manchester, N. if.—City bonds
City bonds ($70,000 1884, $10,000 1885)
....
do
.
117,500
....
....
.
80,000
.
.
70,000
.
....
Water bonds
1874
1872
($100,000 each year)
do
do
do
Sewer bonds ($8,000 1880, ’81,
Suncook Valley Railroad
....
100 &c.
1867 to’68
1867, ’8, ’9 500 &c.
1870
1,000
'.
-
Funding loan, gold
Mississippi River Railroad bonds.
Endorsement Memphis & Little Rock RR
|
do
Water bonds, coupon
do
registered
900,000
328,289
....
City bonds
....
do
Western division
do
.
.
.
500 &c.
1,000
1,000
1,000
10,000
1,000
1,000
500
500
500
1,000
do
do
do
1875
Jfobile— Funding bonds (.act March 9, 1875)
500
500
500
1849
1,000
Nashville, Tenn— Nashville & Cliatt. Railroad.
1870 to’80 100 &c.
Various city bonds
1,000
Newark—Bonds, city purposes (s. fund of 1859)
1,000
War bonds, floating debt, &c. (s. fund of 1864)
1,000
Public school bonds
1875
1,000
Clinton Hill bonds, ooup. & reg. (s. fd. 3 p. c.).
1878
1,000
Corporate bonds, coup, or reg.(act Apr. 21,’76)
1,000
Sewer and improvement bonds (local liens).
1880,116,673, against 85,000 in 1870.
rate per $1,000 have been:
Real Estate.
Years.
1876..
$53,724,792
.
.
.
.
.
«...
242,000
100,000
429,000
1,171,000
250,000
70,000
50,000
60,000
124,500
110,000
115,000
125,000
1,785,122
>
46,000
1,393,900
73,000
1,840,000
500,000
400,000
1,250,000
2,500,000
Assessed valuations and tax
,
.
do
do
City Treasury,
6
6,7
6,7
Y., Merch. Ex. Nat. B’k.
June
Feb.
17,1880
1, 1909
1890 & ’97-1901
1880 to ’97
1880-’81
1879-1884
1880 to 1892
do
do
do
do
J. & J.
July 1, 1894
Oct. 1,’90, to 1906do
A. & O.
do
J. & J. City Treasury and Boston,
July 1,1882
June 1,1883 & ’88
do
J. & D.
do
J. & J.
July 1,1885&1901
do
J. & J.
July 1, ’93-1913
do
A. & O.
0ct.l,’97-1907-’17
A. & O. N. Y., Mercantile N. Bank,
April, 1882
doA. & O.
do
April, 1883
Various
N. Y., Bank of America,
1887, ’89, 91
March 1, 1883
M. & 8.
do
do
Louisville.
Various
1886,’ 96, ’97
N. Y., Bank of America.
J. & J.
July 1, 1903
1891, ’92 & 1903Various
N. Y., Bank of America.
1883 to’89
Various New York and Louisville.
J. & J. Louisville, City Treasurer.
July, 1898
J. & I).
N. Y., Bank of America.
June, 1901
1888 & 1903
do
do
Various
1879 to 1898
Various Louisville and New York,
Oct. 1, 1898
do
do
A. & O.
1889
do
do
J. & D.
do
do
1880, ’94 & 1901.
Various
M. & S.
N. Y., Bank of America,
Sept., 1891
Feb. 1,1880
do
do
F. & A.
do
do
J. & J.
July, 1901 & 1903
1881 to’93
Various New York and Louisville.
-
do
Various
M. <fc N. Boston, N. Bk. of Redemp.
Various
City Treasury,
do
Various
J. & J.
Boston, Bank Republic.
1879 to 1894
1886 to 1894
Nov. 1,1890
1887 to 1890
1885 to 1890
6
July 1, ’91-’94-’96
1879 to 1896
5, Sis, 6 Various Trcas’y & Bost. Bk. Ropub
1882 to 1896
do
do
Various
5, 6
Jan. 1, 1880-1894
6
City Treasury,
6
6
6
6
5
6
N.
J.
J.
J.
A.
Suffolk Bank, Boston,
do
do
8
1887-’92-’97-1902-
City Treasury,
July 1,1880 to ’85
Aug. 1,1879 to ’87
do
do
Memphis.
6
8
8
10
8
7
8
7
6
6
6
6 & 7
6 & 7
7
7
5 & 6
7
April 1, 1884-’85
May 1, 1893
July 1, 1890 <fc ’95
do
M. &
J. &
J. &
J. <te
F. &
]
July, 1872
Charleston, S. C.
& J.
& D.
& J.
J. & J.
J. & D.
F. & A.
M. & N.
Various
J. & J.
J. & J.
F. & A.
M. & N.
M. & N.
Various
Various
Various
J.
J.
1873 to 1902
1873 to 1900
Nov., 1900
M. & N.
1907
N. Y., H. Talmadge cfe Co.
June 1, 1891
Milw.and N.Y.,Plock & Co.
Jan. 1, 1901
do
do
June 1, 1896
do
do
Jail. 1, 1902
do
do
Jan. 1, 1902
do
do
Dec. 2, 1892
New York, Nat. Park Bank,
Feb. 2, 1894
do
do
do
do
May 1, 1905
1881 to 1885
do
do
1886 to 1900
do
do
do
do
July,’91-’96-1902'
Feb. 1, 1891 &’9
do
'
do
Nov. 1, 1901
do
do
Mobile. Mob. Savings Bank
N@v., 1905
1875-77-79
N.Y., Metropolitan Nat. Bk.
1879 to ’99
New York and Nashville.
1879 to’93
Newark, City Treasury,
1879 to ’91
do
do
do
do
April, 1888, to’ 91
Various
A. & O.
J. & J. Newark,
Various
M. & S. Newark,
Years. Real Estate. Personal Prop.
1878
$9,657,690
$6,254,544
1879..
9,777,744 ->
7,705,706
..
do
Various
N.
July, 1889
1884 & 1889
1881-1886
1905-1906
June 1,1886
do
Boston, Tremont Bank,
7
6
5
7
7
7
7
300,000
1,000
Nat. B’k.
Various
Various
Sg'
1,000
J. & J. N. Y., Merch. Ex.
do
Various
do
J. & J.
do
Various
J. & D.
do
5*2
6 & 7
341,000
60,000
1877
1861
1871
1876
1872
1872
Minneapolis, Minn.—City bonds
.
1,300,000
i*857
Compromise bonds, coupon
Milwaukee, Wis. — Re-adjustment bonds
General city bonds
do
400,000
32,000
29,500
1,000
’83, ’85)
Memphis, Tenn.—School and paving bonds
Post bonds
200,000
100 &c.
100 &G.
Whom.
F.'&A.
6,6^
224,000
•••
m
Payable
Due.
Where Payable and by
6
7
8
10
500,000
....
When
....
500,000
137,000
377,000
1,311,000
56,000
193,900
600,000
650,000
180,000
79,000
425,000
1,993,000
288,000
133,000
75,000
605,000
500,000
107,000
350,000
1,508,000
1,000,000
481,000
....
....
Water bonds
7
6
6
6
6
6
6
5
6
6
6
7
6
7
7
6
6
7
7
6
6
6
7
7
7
7
6
5
5 to 7
262,000
1,300,000
25,000
100,000
320,000
500 &c.
....
....
133,000
1,000
....
7
7
7
610,000
385,000
852,000
117,782
74,000
1,000
©
Rate.
$400,000
73,000
97,000
900,000
400,000
500,000
Various
500 &c.
....
Principal—When
Amount
or
par
Value.
Meoh. Nat. Bank.
July 1, 1895
Aug. 1, 1908
Mech. Nat. Bank.
1879 to ’93
Tax Rate.
$17 40
15 00
Total Debt. Sink.Fds,<t#
$984,729
$26,692
37,347
80 —Population, 32,473 in 1880; 23,536 in 1870.
54,601,206
40
Memphis, Tenn.—The city has been in default for interest since Jan.
54,505,470
60 1, 1873. The Legislature passed a bill, January, 1879, repealing the
54,993,918
00 city’s charter, to enable it to avoid its debts. A receiver for the city was
—(V. 28, p. 173, 199, 352, 454; V. 29, p. 120, 357.)
appointed by the United States courts. The compromise bonds wer*
Lawrence. Mass.—Total debt, $1,790,700, of which $20,000 are 7 per issued at 50 cents on the dollar. Assessed valuation of real estate, 1875,
cents. Sinking fund, $40,000. Tax valuation, 1879, $23,088,897; tax $19,329,600; personal, about $6,500',000. Tax rate, $2 per $100.
Population in 1870, 40,230. (V. 28, p. 121, 146, 224, 579, 657; V. 31, p.
rate, $16 40. Population, 39,068 in 1880; 28,921 in 1870.
306, 328.)
Lewiston, Me—Total debt, $1,096,100; sinking fund, $90,410. The
Milwaukee, IFis.—The city cannot issue debt beyond 5 per cent of it#
railroad bonds were issued to build the Lewiston & Auburn Railroad,
which is owned by the cities of those names. Assessed valuation, 1877, average assessed value for five years. In 1878 valuation was $55,255,711.
$11,740,602; tax rate, 20 mills on the $1. Population, 19,076 in 1880; Sinking funds are provided for all the bonds. Thero is also about
$47,000 scrip issued to settle old railroad bonds. Population, 115,702
13,600 in 1870.
in 1880; 71,440 in 1870.
(V. 23, p. 622.)
Louisville.—The funded debt, Jan. 1,1880, exclusive of loans payable
Minneapolis, Minn.—Total debt, $1,101,000; tax valuation, 1879,
by railroads, was $8,072,000, against $8,079,000 Jan. 1, 1879. Tim sink¬ about $24,000,000; tax rate, 14-85mills; bonds all coupon. Population,
ing funds on Jan, 1, 1880, amounted to $4,619,980. Population by cen¬ 48,323 in 1880; 13,036 in 1870.
sus of 1870 was 100,750, against 126,556 in 1880.
Rate ot taxation
Mobile.—The valuation of property is about $13,000,000.
Inter¬
for all city purposes in 1878 was $2 17 on $100 in each district. The est was in default from July, 1873. A settlement with bondholders was
following figures give the assessed property valuation: 1874, $78,295,- offered by act of March 9, 1875, viz.: $510 in 6 per cent bond for $1,000
114; 1875, $75,536,812; 1876, $71,849,772; 1877, $68,522,947; 1878, of the old 8 per cent. The 5 per cent bonds have a lien on city revenue,
and exchange for these was offered at 75 per cent of their face. In
$63,194,487; 1879, $64,018,242.
Lowell, Mass.—All the notes held by savings banks. Water loan sink¬ Fell., 1879, the Legislature repealed the charter of the city. In Oct.,
ing fund, $215,000; other sinking funds, $226,725. Population, 59,340 1880, bondholders in N. Y. offered to take new 25-year bonds, bearing 3
in 1880; 40,928 in 1870. Assessed valuations (about 80 per cent of per cent for 5 years, 4 per cent for 10 3rears, and 5 per cent for 10 years.
true value), tax rate per $1,000, &o., have been:
Population, 29,166 in 1880; 32,034 in 1870. (Y. 29, p. 278, 374; V. 31,
Years.
Real estate.
P’sonal Prop. Tax Rate.
Debt.
S. fund. «fcc. p 328.)
Nashville,
1877.
$27,072,779
$12,334,953 $14 30
$2,331,000 $147,951 there were Tenn.—At the close of the fiscal year, September 30, 1879,
$301,185 of past-due coupons, judgments, overdrafts, <fec.
27,112,747
12,951,379
184,296 Assessed valuation of all property in 1879 was $9,137,990 real property
13 70
2,311,000
27,440,570
12,164,430
13 40
2.281,500
240,000 and
$1,858,584 personal; tax rate, $20 per $1,000. Population, 43,337
Lynn, Mass—Total debt, January 1,1880, $2,147,487. Assets, $455,- in 1880 ; 25,865 in 1870.
•
.
633. Population, 38,376 in 1880 ;• 28,233 in 1870.
Newark.—The bonds in the first line in the table are payable out of the
Manchester. N. H.—Total debt, $929,000; assets, $83,367. Assessed sinking fund of 1859, which amounts to $114,900; those iu second line
valuations (about 70 per cent of true value), tax rate per $1,000, &c., out of’ sinking fund of 1864, $1,017,000; public school bonds out of
have been:
public school fund, $179,000; Clinton Hul bonds by sinking fund
Personal Prop.
Tax Rate.
$6,315,155
5,940,296
5,790,119
5,340,860
$25
25
23
28
973,007
OITY
xn
Subscribers will confer a great faror by
SECURITIES.
[Vol. XXXI.
Tables*
giving Immediate notice of any error discovered In these
INTEREST.
Date of
Bonds.
DESCRIPTION.
For explanations see
Netoark—(Continued)—
outstanding.
$1,000
1879
1876-’77
1861-'74
1875
bonds
bonds
450,000
888,000
55,000
223,000
108,000
100,000
400,000
200,000
499,000
60,000
160,000
150,000
4,304,250
10,000
1,000
1876
1,000
Water bonds
1867 to ’76
1,000
do
1872-’74
1,000
do
1871
1,000
New Haven, Conn— Sewerage
1861
1,000
City Hall
1867
1,000
For Derby Railroad ($20,000 payable yearly)
1877
1,000
City bonds (10-20 bonds)
City improvement
19058797. 81
1852
1854-55
1869
Neio Orleans—Consolidated debt
Railroad debt
Waterworks loan of 1869
Seven per cent funding loan of 1869
J869
1870
Seven per
1,000
1,000
77.000
109,700
591,150
428,950
85,500
66,000
30,000
186,000
298,900
.....
cent funding loan of 1870
Jefferson City (debt assumed)
’57, ’67,’70
1870
Wharf impr. bonds (assumed by lessees)
1871
1,000
Street improvement bonds
1872
1,000
Consol, gold bonds (gen'l and drainage series)
Various.
1871
Ten per cent bonds, deficit and old claim
New premium bonds (in exchange)
N. O. Waterw’ks Co. new bds.(for $2,000,000)
1864 to ’75 1,000Ac
Newton, Mass— City bonds and notes
1875
1,000
Water loan ($600,000 6s, balance 5s)
....
....
1872
New Tork—Water stock
Croton water stock
New Croton Aqueduct stock
1846 to’69
1865-6
1870 to '79
Additional new Croton Aqueduct
1871 to’79
Croton water main stock
1865 to’74
Croton Reservoir bonds
1866 to ’70
Croton Aqueduct bonds
Cent. Park fund stock ($275,000 only due '98) 1857 to '59
1879
Improvement bonds
1856
Central Park fund stock
1858 to’71
Central Park improvement fund stock
1870-’7tf
Dock bonds
1865 A ’68
Market stock
1869
City Cemetery stock
1876
1870-’73
1869-’70
1869 ’70
1870-’73
1870
1869-’79
1869-’70
1874-’77
1871
City improvem’t st’k (part red’mable after ’96)
do
do
Lunatic Asylum stock
Fire Department stock
Fire telegraph bonds
bonds,
coupon
N.Y.Bridge bds ($2,350,000 red.after July,’96)
Accumulated debt bonds
Street
improvement bonds
Street opening and improvement bonds
Ninth District Court-house bonds
.
1871
1874r-’79
1874-’78
1871-’78
1871
Deportment of Parks improvement bonds
Assessment bonds
City parks improvement fund stock
Normal school fund stock
Public school building fund stock
Additional Croton water stock
Sewer repair stock
Consolidated stock
1871
1871-V9
1872
1874
20-50 (redeemable July ’96;
1876
do
Museum of Art and Natural History stock.... 1873-’79
1874
Third District Court-house bonds
1877
Armories and drill-rooms
Central Park commission improvement bonds 1878 A ’79
1862 to ’68
County Court-house stock
1871
do
No. 3
do
1872 9
do
No. 4 & 5
do
1864
Soldiers’bounty fund bonds....
1864
Soldiers’ subs, and relief red. bonds
1865
Soldiers’ bounty fund bonds, No. 3
1865
Soldiers’ bountv fund red. bonds. No. 2...
1864 to’72
Riot damages indemnity bonds
1868 to ’72
Assessment fund stock
1873
do
do
1875
do
do
1870
Repairs to buildings stock
1871 to ’72
Consolidated stock, gold, coupon
1869 to’70
Accumulated debt bonds
1870
N. Y. and Westchester Co. improvement bonds
1874
Consolidated stock
1874
For State sinking fimd deficiency
9,171,000
....
value
100 Ac.
100 Ac.
100 Ao.
500 Ao.
500 Ac.
100 Ac.
100 Ac.
100 Ac.
500
100 Ac.
100 Ac.
500 Ac.
100 Ac.
100 Ac.
500 Ac.
500 Ac.
100 Ac.
100 Ac,
100 Ao
500 Ac.
500 Ac.
100 Ac.
100 Ac.
100 Ac.
500 Ac.
500 Ac.
500 Ac.
500 Ac.
500 Ac.
500 Ac.
500 Ac.
500 Ac.
500 Ac.
500 Ac.
500 Ac.
500
500 Ao.
500 Ac.
100 Ac.
100 Ac.
500 Ac.
100 Ac.
100 Ac.
100 Ac.
100 Ac.
100 Ac.
100 Ac.
100 Ac.
100 Ac.
100 Ac.
500 Ac.
100 Ac.
100 Ac.
100 Ac.
100 Ac.
'
whom.
payable
....
do
-
City Treasury.
July 1, 1881
'86
July 2,1887-'97
July l. 1892
1874-5 A 1894
Jan. 1, 1899
March 1. 1894
June 1, 1895
do
Oct. 1, '79 to
do
do
New Orleans..
do
do
do
Variou&J
J. A J.
M. A S.
J. A D.
do
1887 to 1897
Various
J. A D.
do
do
F. A A.
do
Q.—J.
New York or London.
New Orleans.
A. A O.
Dec., 18801
Aug. 1, 1911
July 1, 1922
April 1, 1881
....
43,563
333,000
1,360,000
600,000
641,600
4,000,000
446,700
745,800
376,600
855,204
1,719,400
493,200
900,450
100,000
14,702,000
6,000,000
30,000
1,680,200
2,339,696
of April
6
5
5
5
A 7
A 6
A 6
A 6
5
5
6
7
5 A 6
6
6
7
7
6
6
6 A 7
6
6
6 g7
6
7
7
1894 to '96
Various
M. A N.
M. A N
M. A N.
M. A N.
M. A N
M. A N.
M. A N.
M. A N.
M. A N.
M. A N.
M. A N.
M. A N.
M. A N
M. A N.
M. A N.
M. A N.
M. A N.
Various
M.
M.
J.
M.
May,’97,1916-’2
©•d
gf
1903
g
8*
Nov. 1.1890
d o
Nov.l. 1884
1881 to'92
1881
•
o,q
09
1884 to'88
1894 to '98
1883 to'90
1881
1895 to'97
1891
1882
1887
1903
1910
1884 to'88
1896 to 1901
1884 to'88
1891
1896
1881 to'86
F? o8
°
A
9-2
©
r—«
2
05
ay
&s
-
ao
A N
A N.
A D.
A N.
§
a
and the 1st of October.
Population in 1870, 191,418; In 1880,
216,359. (V. 27, p. 148, 228, 629; V. 28, p. 18, 352 ; Y. 30, p. 468,494,
651, Y. 31, p. 606.)
Newton, Mass.—'Total debt, January 1,1880, $1,282.778; sinking fund,
$70,408. Tax valuation, 1879, $23,787,352; rate, $13 40 por $1,000.
.
„
^
Population, 16,994 in 1880; 12,825 in 1870.
New York City.—The total debt of Now York, January 1,1880, was
$142,447,400; the amount of sinking funds, $33,021,98o. The follow¬
ing statement shows the details of funded debt and the amount in the
Trust
city sinking fund at the dates named:
Funds.
Description.
Jan. 1,1879.
Jan. 1,1880.
Deo. 1,1880.
$102,600 Funded debt
$126,128,815
$123,145,333
$123,113,919
103,100
32,143,787
33,021,985
33,023,643
' 104,100 Sinking fund
in 1870.
Net debt
Assessment bonds
Revenue bonds
$93,985,028
13,481,500
5,952,075
payable semi-annually on the 1st
$90,123,348
13,262,100
6,039,966
$90,090,276
10,323,900
14,4#5,808
$113,418,603
$109,425,414
$114,869,984
of New York, by the United States census, in 1870 was
922,531, and 1,209,561 in 1880. Since Jan. 1,1861, the valuation, rate
of taxation, and net funded debt at end of year, have been as follows:
Total
The population
^-RateTaxp.
.
per annum,
•'
T
.
398,000
$18 60
$1,178,000
$12,609,200 $13,524,097
13,137,011
16 00
1,148,000
12,808,700
16 40
1,123,000
12,898,300
12,874,418
New Haven, Conn -Sinking fund on City Hall loan, $57,740; .munici¬
pal bond fund, $18,277. The city made a special loan of $75,000 to the
New Haven & Derby Railroad, and guaranteed $225,000 of its second
mortgage, bonds. Population, 1870, 50,840; in 1880, 62,861. Assessed
valuations (about 80 per cent of true value), tax rate, Ac., have been:
Total
Personal
Rate of Tax
Sinking
Years. Real Estate.
Debt.
Funds, Ac.
Property.
per $1,000.
1876.. $35,178,404
10 mills.
$57,904
$13,041,104
$965,513
1877..
9% “
35,509,639
12,678,617
950,137
147,418
9
1878..
11,606,420
142,196
33,426,943
894,000
Not yet ascertained.
1879..
9
874,000
156,450
New Orleans—A decision of Louisiana Supreme Court, Dec., 1878, held
invalid the special tax provisions for consolidated bonds. The assessed
valuation of property for 1878 was $111,123,695, real and personal. State
tax, 14mi Is; city tax, 15 mills; total tax, 29*2. A scheme for settling
the debt by a bond premium drawing plan is in practice, and drawings
take place January 31, April 15, July 31, and October 15. An act
before the legislature April, 1880, provided that the entire .adjust¬
ment of the city debt should be committed to a board of liquidation, to
which shall at once bo transferred all tbo assets of the city not used for
purposes of government, and these assets are to be used first for the
payment of interest, and, should auy excess remain, for the extinguish¬
ment of the bonded debt.
The act furthor provides that bondholders
who choose can fund their bonds in new bonds at fifty cents on the dol¬
lar, and 4 per cent interest
1886-*87
1880 to 1889
1891 to 1910
1879 to 1884
1900 to 1904
1885 to 1909
1883 to 1909
Oot. 1, '91A1901
City Treasury.
1AO.
A. A O.
A. A O.
A. A O.
A. A O.
A. A 0.
A. A O.
J. A J.
A. A 0.
J. A J.
J. A J.
is
8,779.700
follows: 1876, $97,116,004; tax rate,
New Bedford, Mass.—Population, 27,268 in 1880; 21,320
Assessed valuations (true value), rate of tax, Ac., have been:
Personal
Rate of Tax Total Debt,
Years.
Real Estate.
Property, per $1,000.
Bonds.
1879 A 1892
1909
Various Newark, Meoh. Nat. Bank.
do
do
do
do
F. A A.
.
2,058,350
956,000
$19 per 1,000; 1878,
$86.257,175; tax, $19 80; 1879 .$78,658,918; tax, $20 60. Population
Hi 1870, 105,059, against 136,983 in 1880.
(V. 28, p. 253.)
due.
payable and by
1879 to 1895
6A 6*3 Various
City Treasury.
J. A J. Boston, Comm’nwealth Bk. July 1,1905-’06
5 A 6
835,000
Nov. 1,1902
M. A N.
6 A 7
2
500,000
1883 A 1890
5 A 6
Q.-F.
2,900,000
6
Aug. 1,1884
Q.—F.
250,000
Aug. 1,1900
3,618,600 5, 6 A 7 Q.—F.
STov. 1,1900-1906
5,171,000 5, 6 A 7 IVL A N.
d
1907 to 1917
6
Q.—F.
970,637
O a
1907 to 1911
Q.—F.
6
O
490,000
1887 A 1898
6
Q.—F.
3,341,071
£
1884
M. A N.
5
500,000
© o
5
July 1,1898
Q-—F.
399,300
1887 A 1895
6
3,849,800
Q.-F.
Nov.1,1901 to '11
7,418,500 6g.,5,6,7 M. A N.
•gS
1894 A 1897
M. A N.
6 A 7
drS
296,000
1888
7
M. A N.
75,000
'89,'92,'96 A1926
2,229,500 5 A 6 g. M. A N.
AO
CD
1889 A 1892
M. A N.
7
7,269,400
3 rl
1889
M. A N.
6 A 7
700,000
D O
1899
M. A N.
6
521,953
1884
M. A N.
6
597,586
1890
M. A N.
7
d ”
3,000,000
o GO
1905.1926A 1928
M. A N.
5 A 6
lZ GO
4,221,900
W ©
1884 to'88
M. A N.
7
6,500,000
1882,A 1838
M. A N.
5 A 6
1,995,400
1831 to'82
M. A N.
7
500,000
1890
M. A N.
7
300,000
s®
fH
M. A N.
Nov.1,1881 to '84
5
1,241,000
Nov. 1,1881 to'84
M. A N. L
5
© ?*
6,743,600
>
1901-1904
5,661,000 5,6,7A6g M. A N.
fc*
1
Nov. 1,1891
6
M. A N.
200,000
Nov. 1,1891
M. A N.
6
636,000
0.2
Nov. 1,1891
1,474,000 5, 6 A 7 M. A N.
09
M. A N.
Nov.l, 1882 A'85
6
265,000
Real and personal property have been assessed at near the true
as
Where
When
357.000 5,
$53,209; tax arrearage, $275,000; against local improvement bonds
the city holds $2,039,724 of assessments unpaid and a lien on the prop-
city,
7
6
7
6
6
5
5
6
7
7
6
6
5
6
6
5
7
7
8
73
73
7 g.
10
5
$3,030,000
1,000
War loan
Tax relief
Rate.
-
Aqueduct Board bonds
Bonds
Tax arrearage
Principal—When
Amount
or
par
Value.
notes on first page of tables.
Neto Bedford, Mass— City
Size
Real
Estate.
$406,955,665
Years.
1861
1865
1872......
1873
1874t
*
Less
Personal
$174,624,306
427,360,884
742,103,075
769,302,250
797,148,665
836,693,380
881,547,995
883,643,545
892,428,165
895,963,933
900,855,700
918,134,380
942,571,690
sinking funds.
Estate.
$1,000State.
City.
$3 62 $16 36
96 24 94
70 19 80
43 17 27
20 23 81
41 19 59
6 95 21 05
29 40
28 00
26 50
25 50
25 80
25 30
t Annexed towns included
181,423,471
305,285,374
306,947,233
306,949,422
292,597,643
272,481,181
217,300,154
218,626,178
206,028,160
197,532,075
175,934,955
201,194,037
..
Net Debt*
$20,087,301
35,973,597
73,373,552
88,369,386
95.582,153
106,363,471
114,979,970
116,773,721
119,811,310
117,741,050
113,418,603
109,425,414
4
CITY
December, 1880. J
Subscribers will confer
a
SECURITIES.
Kill
great favor by giving Immediate notice of
Date of
Size or
B.
For explanations see notes on first page of tables.
New York—( Continued)—
Debt of Westchester towns annexed
Consolidated stock, gold
Consolidated stock
outstanding
Value.
discovered In these Tables.'
INTEREST.
Amount
par
DESCRIPTION.
any error
Rate.
When
Where
Payable and by
Principal—When
Di
>ue.
Whom.
Pay’ble
,
$...
1878
Norfolk, Ya.—Registered stock
Coupon bonds ($20,000 6s
are
«...
.
.
•
J. A J.)...
.
)
.
„
.
1870-’74
City bonds
.
Court House
5 g.
6,900,000
4.
2,800,000
6
915,671
6 A 8
336,700
8
415,800
8
500,000
7
125,000
5
160,000
300,000 5, 6 A 7
100
100
1872-’73
1871
1868
1877
Norwich, Conn.—City bonds.
$953,500
500 Ao
500
100
100
’68,'78,'80
1875
1878
1858-’73
1862-’71
1869-’79
1869-’79
1863-’65
1877
1877-’78
1,000
1,000
1,000
1,000
1,000
610978187811876-90.
SinKing fund bonds
Paterson, N. J.—School bonds
.
Funded debt bonds
.
Improvement bonds
.
Sewer bonds ($125,000 are M. & S.)
War bounty bonds
.
.
Funding bonds, “A”
Renewal bonds, “B”
.
Philadelphia—Bonds prior to consolidation
s
do
for water works
do
for bridges
do
for park and Centennial.
Bonds for war and bounty purposes
do
municipal, school, sewer, Ac
Guaranteed debt, gas loans
Four per cent loan (“A” to “ Y”)
.
.
.
.
.
500
500
500
500
100 Ac
1855
1855 to '71
1859 to'70
1868 to'70
1862 to 65
1860 to '70
....
1879
Peoria, Ills.—School loan
Water loan ($50,000 each year)
.
.
.
.
.
....
....
....
.
Bounty loan ($21,000 payable each year)
.
.
.
....
....
.
....
Peoria A Rock Island Railroad
.
'
«
Portland, Me.—Loan to Atl. & St. Lawrence RR
'68,'69,'70
Rochester, N. Y.—To Genesee Valley Railroad
..
.
.
.
t
450,000
1,350.000
1,614,600
325,000
600,000
300,000
2,347,000
1,653,000
1,500,000
1,000
1,000
1,000
1,000
....
.
.
.
.
1,000
lOOOAc.
Various
lOOOAc.
For various city improvements
Water works loan, coupon and registered.
1875
....
100 Ac.
....
1869
1871
1872
SI. Joseph, Jfo.—Bonds to St. Jo. & Den City RR. 1860 to'69
Bonds to Missouri Valley Railroad
1869
Bonds for various purposes
1858 to '69
1871
Bridge bonds
New compromise bonds (60 per cent)
1879
St. Louis—Renewal and floating debt bonds
1846 to ’71
Real estate, buildings and general purposes.. 1840 to '68
Street improvement bonds
1855 to ’57
Water work bonds (old)
1856 to ’58
Tower Grove Park bonds (gold)
1868
Sewer bonds
1855 to '69
Harbor and wliaTf bonds
1852 to '68
New water work bonds (gold)
1867 to '70
do
do
do
187-9
1,997.250
600,000
450,000
500,000
700,000
280,000
135,000
3,263,545
1,214.700
(?)
160,000
750,000
3,182,000
410,000
192,650
100 Ac.
100 Ac.
do
do
100 Ac.
500
500
100 Ac.
500
5 Ac.
Various
Various
Various
Various
6
787,000
700,000
lOOOAc.
lOOOAc.
lOOOAc.
lOOOAc.
lOOOAc.
£100
lOOOAc.
Large.
7
6 A 7
4 A 5
7
400,000
150,000
205,000
431,500
150,000
299,400
500,000
1,000
(?)
1,922,000
1,148,000
70,000
336,000
346,000
885,000
806,000
3,950,000
1,000
6.
6
6
5 A 6
6
6
5
5 A 6
5 A 6
5
5
Various
g.
g.
g.
g.
4^
5
7
5
4^
4*2
6
8
J.[Phila.,
Various
M.AN. Boston, Blackstone N. B’k. Nov.,1886,’87,’86
J. Sc J.
do
do
July, 1887
J. Sc J.
do
do
July 1, 1897
M. Sc S.
do
do
Sept. 1.19071
Boston and Portland,
1879 to ’95
m’nthly
J. Sc D.
do
June 1,1887
M. & S.
Providence,
Sept., 1885
J. Sc J.
do '
Jan., 1893
J. Sc J. Boston, Prov. and London.
Jan., 1900
J. Sc J. N. Y., N. City Bank, & Prov.
Jan., 1900
J. Sc J.
do
do
July 1,1906
J. Sc J. London, Morton, Rose Sc Co
July 1,1895
J. Sc D.
Providence,
June 1,1899
do
July 1, 1899
J. Sc J.
do
1892
M. A S.
Sept. 1,1880-’84
Treasury.
M. Sc N.
Boston and Providence.
May 1. 1885*86
do
do
Various
1880-’89
J. Sc J.
J.& J., 1880-1912
Richmond, Treasurer,
J. Sc J.
do
do
1886Sc1904-1909
J. Sc J. N. Y.. Metropolitan N. Bk
N. Y., Union Trust Co.
Vap;r.na
New York and Rochester.
6 A 7
7
i.~ & j. N. Y., Union Trust Co.
do ;
do
4, 5 A 6 Seuii-an
City Treasury.
6
J. Sc J. Bost., Hide & Leather Bk.
6
F Sc A. Bath, Mo., First Nat. Bank.
6
M. & S.
Rockland, Treasurer.
7
7
.
^
m
6 Sc 7
7
10 A 6
10
4 A 5
6
6
6
6
6 g.
6
6
6 g.
6 g.
Various N. Y., Nat. B’k Commerce,
M. Sc N.
do
do
Various St. Joseph and New York.
J. & J. N. Y.t Nat. B’k Commerce.
April. 8t. Joseph, City Treasury.
Various N. Y., Nat. Bank Republic
liabilities, $46,546,222.
13,744,883
9,437,891
$34,658,155
real estate is
Years.
near
1,480,763
1,497,130
19
19
Noirwieli, Conn.—The assessed valuations, tax rate, Ac., have been :
Real'
Personal Rate of Tax Total
Sinking
Years.
Estate.
Property, per $1,000. Debt. Funds, Ac.
1676.^
$7,735,158
$3,725,846
$
$11
$765,664
8,184,815
8
3,273,074
763,277
7,794,678
7
3,039,564
771,863
3,535
7,435,418
3,057,099
9
777,312
9,191
—Population, 21,145 in 1880; 16,653 in 1870.
Paterson, N. J-.—Finances are apparently in a sound condition. Back
(including 1878) were $667,786 January 1,1879. The assessed
valuations, tax rate per $1,000, Ac., have been:
taxes due
Years.
Real Estate.
$17,835,114
Personalty.
$3,629,492
15,850,857
15,923,108
3,255,659
3,246,501
Tax Rate.
2i5
2t*
2*4
Debt.
$1,199,000
1,286,500
1,275,000
Nov., 1889
1878 to ’89
1891
1899
1880 to’91
1880 to 1906
1882 Sc ’87
1880 to’83
In the following table the assessed value of
its cash value:
Real Estate.
$565,849,095
585,408,705
593,313,532
577,548,328
526,539,972
529,169,382
535,805.744
281,445.)
8,775,416
1 QQQ
1880 to 1902
Jan. 1,1903
1905
1880 to 1897
1880 to 1899
1891
1892
1880 to *89
do
Various
do
do
do
Various
do
Various
do
F. Sc A.
do
do
Aug., 1898
do
do
Various
1880 to’89
Various
do
do
1880 to’88
J. & D. New York and St. Louis. June, 1887, to 90
A. & O. N. Y., Nat. B’k Commerce.
April 1, 1892
$11,475,380
Norfolk, Ya.—The assessed valuations and tax rate per $1,000 have been:
Years.
Real Estate.
Personalty. Tax Rate.
$8,576,130
$1,639,866
$19
1881 to 1908
F. Sc A.
The reduction between the amount of taxation of the years 1874 and
1879 is about $4,000,000.
There was, however, uo substantial reduc¬
tion in the expense of administering the City Government, as the reduc¬
tion instate taxes is about equal to reduction in tax levy. (V. 31, p. 45,
8,703,895
1883 to’85
Philadelphia.
....
1,250,000
1,000
1,000
„
1,405,000
500 Ac.
....
.
5,127,700
.
....
Personal taxes uncollected Dec. 22,1879, amounted to
Uncollected taxes on real estate, Nov. 30,1879, amounted to
Uncollected assessments Nov. 1 1879, amounted to
4,482,425
1,641,000
2,179,469
500 Ac.
To Rock. & State L. and R. N. & P. Railroads.
Funding loan
Rockland, Me.—City bonds
Railroad loan ($20,000 payable yearly)..
.
.
6
6
6
6
6
6
6
4
7
10
15,709,750
5,999,400
9,199,760
74,500
50,000
7
195,000
205,000 7,6g.A7g
10
42,000
7
100,000
1,000
1867 to '69
1872
1872
1859-79
Municipal—proper, ($63,000 are 5s due ’83)..
1867
Building loan bonds
.*
1855
1863
Recruiting and bounty bonds
Water loan bonds, gold, coupon....
1872
do
do
1874
registered,
do
do
do
1876
1875
do
loan of 1879
1879
Public improvement loan, registered
1879
Prov. A Springfield RR. bonds, guaranteed...
1872
Brook Street District certificates
1877
do
do
do
1879
coupon..
New High School Building, certificates
1877 A’79
Bonds, reg. and coup. ($216,000 are coup.)..
New fives
.
.
5 A 6
8,701,600
11,650,000
....
Loan to Portland & Rochester Railroad
do
do
do
do
Portland A Ogdenaburg
Richmond, Ya.—Bonds, reg.,($118,000 are coup.)
* #
.
.
1868 to'74
1845 to '72
1863
1871 to’73
1879
-
.
....
Funded debt and other municipal bonds.
Total
500
50 Ac.
50 Ac.
50 Ac.
50 Ac.
50 Ac.
50 Ac.
50 Ac.
50 Ac.
25 Ac.
....
Water loan....
do
50,000
125,000
135,000
33,000
369,000
417,000
100,000
90,000
5,753,391
1,725,000
6,500,000
4,853,500
500
....
7
5
7
7
7
7
7
6
6
164,000
& N. S
See preceding page.
1908-1928
A N. )
1910
A J. Norfolk, Treasurer’s Office
1880 to *85
A S.
do
do
1890-’94-’99
& O.
do
do
Apl.,’92: July, ’93
A N. New York, Park N. Bank.
May, 1901
A. Sc O. ThamesN.Bk; Boat.,Bk.Rep
Oct. 1, 1893
A. Sc O.
Norwich.
April 1, 1907
Various
do
1898,1908 &1910
J. Sc J.
do
Jan. 1, 1905
A. & O.
do
April 1. 1908
J. & D.
City Hall, by Treasurer.
Dec., 1879-1904
J. Sc D.
do
do
Dec., 1879-1900
J. Sc D.
do
do
Dec., 1879-1886
J. Sc D.
do
do
1882-1902
J. Sc D.
do
do
Dec., 1879-1900
J. Sc D.
do
do
June, 1887
Various
do
do
1901-1904
J. Sc
1879 to ’85
Far. Sc Mech. N. BTr
J. Sc J. i
do
do
Sc J.
do
do
> 1879 to 1903
J. Sc J.
do
do
J. Sc J.
do
do
J. Sc J.
do
do
1879 to 1905
Sc J.
do
do
Sc J.
do
do
1883 to 1905
do
do
1880 to 1904
Various N. Y., Amer. Exch.Nat. Bk
1879 to 1890
M. Sc N.
do
do
May 15,1881
J. Sc D.
do
do
June 1,1888
do
Various
do
1889-1891
M. Sc S. N. Y., Mercantile Nat. Bk, Mch.1,1882 Sc *83
J. Sc J.
New York.
July 1, 1888
A. Sc O.
1893 to *98
Pittsburg, Treasurer.
Various Pittsburg, Pliila. Sc N. Y.
1879 to 1912
J. Sc J. New York, B’k of America.
1913
M.
M.
J.
M.
A.
M.
Assessed valuations of
real estate for 1881
$488,645,902; suburban property,
Personalty.
$9,434,873
10,004,673
9,755,000
9,439,769
8,069,892
7,498,452
7,863,385
are:
Full city
Tax Rate.
$21 50
21 50
22 50
21 50
20 50
20 00
property,
$35,916,452; farm property, $19,-
106,775. A tax rate of 1*95 on full city property is recommended for
1881. Population, 1870, 674,022, against 847,542 in 1880. (V. 27, p.
629; V. 29, p. 435.)
Peoria, III —Total debt, $686,500; tax valuation, 1876, $14,574,105.
Population, 31,780 in 1880; 22,849 in 1870.
Pittsburg.—Assessed valuation in 1879: Real property, $92,954,390;
Sinking funds, $473,277. Tax rate, 1879,
17‘6 mills per $1. Population, 153,883 in 1880; 86.076 in 1870. in¬
terest defaulted April, 1877. (V. 27, p. 68, 643; V. 28, p. 43, 302; V.
personal, only $2,612,268.
29, p. 383; V. 31, p. 123.)
Portland, Me.—The sinking fund and available assets March 31,1880,
were $335,594.. The city is protected by mortgages on Atlantic A St.
Lawrence, Portland Sc Rochester, and Portland Sc Ogdeusburg railroads.
Population in 1879, 35,010, against 31,413 in 1870. and 26,341 in 1860.
—Population in 1880, 33,835; 1870, 31,413. The assessed valuations,
tax rate, Ac., have been:
Real
Personal Rate of Tax
Total
Sinking
Years.
Estate.
Property, per $1,000.
Debt. Funds, Ac.*
1,259,500
$18,708,500
$11,951,855
$2500
$6,050,200
$664,999
377,061
11,825,645
25 00
5,507,900
—Population, 50,950 in 1880; 33,579 in 1870.
5,316,600
360,815
11,458,354
25 50
5,235,600
225,710
10,359,128
25 00
Philadelphia.—The total funded debt, January 1,1880, was $70,979,These do not include the sinking funds for railroad loans.
004; floating debt, $1,294,554. On January 1, 1879, funded debt was
$61,092,641, and floating .debt, $10,742,458. Total assets, including
Providence, R. I.—The principal debt of Providence has been created
sinking fund, railroad stocks held, and $3,532,264 of taxes “ due and since 1872 for water works, sewerage, new City Hall and Brook Street
collectible,” and $1,853,456 cash, were $25,718,373, leaving balance of Improvement. The sinking fluid for bonds duo in 1885, $553,171;
*
19,067,200
19,212,800
19,825,800
Subscribers will confer a
great favor by giving
see
Amount
Bonds.
par
Value.
outstanding.
1871 to ’73
1873
1875
$1,000
$681,000
1,074,000
707,000
2,747,000
565,000
461,000
notes on first page of tables.
Ml. Louis— (Continued.)—
Renewal and sewer bonds
Renewal purposes, gold or
Renewal,
Renewal,
(gold)
sterling
&c., bonds, gold, $ and £
&c., bonus, gold, $ and £, coupon..
Renewal bonds, gold, $
1,000
1,000
1,000
1874-’79
.
1880
1,000
1872
and £
500
Insane
1867
Asylum
1868
1872
1873 to ’76
1875
1875
Various. Various
Various. Various
Various
500 &c.
1868
County Jail
General purposes, gold
Renewal
Park bonds, coupon, gold
County bonds
St. Paul, Minn.—Revenue bonds
Preferred bonds
8 per cent bonds
Lake Superior & Mississippi
St. Paul & Chicago Railroad
Railroad
1873
1873
1879
improvement
Bonds
Salem, Mass.—City debt..-
Citydebt
do
Bonds of 1858, coupon (gold)..
Judgment bonds, coupon (gold)
San Francisco—
Central Pacific Railroad, coupon
Western Pacific Railroad,
do
School bonds,
do
do
Judgment bonds,
School bonds
(gold)
do
do
do
School bonds
improvement bonds
Hospital bonds
House of Correction bonds
Citv Hall construction
Widening Dupont St. (Act March 4, 187G)
Park
compromise bonds
Somei'viUe, Mass— City debt
Savannah., Ga.— New
1877
1858
1863 to’64
1864
1865
1866 to’67
1867
1870 to ’72
1874
1872 to ’75
1871 to ’73
1874
1875 to’76
1876
1879
-
500,000
1,000
1,000
500
500
500
500
500
500
500
500
500
500
500
500
Various.
Large.
Various.
Large.
lOOO&c.
do
do
do
do
Park&wat’r($170,000A &0.; $155,000 J.&J.)
Water loan
Large.
Springfield, Mass— City notes
City bonds
Water loan
1,000
1,000
1,000
($200,000 are 0 per cents)
Railroad loan
Toledo, O.—General fund city bonds, coup
Toledo & Woodville Railroad, coupon
Waterworks
Short bonds, chargeable on special assessm’ts
'Worcester, Mass—City debt, coup, and regist’d.
$550,000 coupon),
($200,000 J.&J., $300,000 A.AO.)
’70,’71,’76
1870
1873 & ’74
1875-’78
Large.
City debt, ($250,000 reg.,
do reg.
do
registered
Sewer loan ($92,000 are
Water loan
1880
J.& D., balance J.&J.)
($305,400 reg., $80,000 coup.)
....
500 &c.
500 &c.
500 &c.
Various.
500 &c.
7 & 6 g.
g.
g.
g.
g.
New York or London.
Various
do
do
M. & N.
do
do
M. & N.
do
do
J. & J
do
do
J. & J.
J. & D. N. Y., Nat. B’k Commerce.
J. & J. N. Y., Nat. Bk. Commerce.
do
do
J. & J.
do
do
M. & 8.
do
do
J. & D.
do
do
J. & J.
do
do
A. & O.
do
do
M. & N.
Brothers.
7
J.
& J.
115,000
6
5*2 & 6
A.
J.
J.
A.
J.
J.
A.
J.
M.
A.
A.
J.
J
J.
M.
J.
& O.
108,000
300,000
500,000
398,500
542,000
435,500
377,000
250,000
197,000
-
&
&
&
&
&
Boston, Merchants’ Bank.
do
do
do
do
San Francisco.
246,000
385,000
200,000
475,000
210,000
150,000
750,000
915,000
3,000,000
10.000
461,000
165,000
115,000
140,854
200,000
325,000
5, 6 & 7
'
7
8
6
6
7
6
6
5
6
7
7
7
7
7
7
6
6
6
7
6
7
5
7
M. & N.
M. & N.
Various
J. & D.
J. & D.
m
g.
g.
g.
g.
g.
g.
g.
g.
g.
g.
gg-
g.
612
612
6
m
m
m
J.
J.
0.
J.
J.
& O.
& J.
& N.
& 0.
& O.
& D.
& J.
& J.
& N.
& J.
do
do
do
do
do
do
do
do
do
do
do
& J.
Q-F.
& J.
Various
J.
do
do
do
do
do
do
1,1893
May 1, 1895
1894 & 1899
Jan. 1, 1900
Dec.
10, 1892:
1880
July 1,1887
Sept. 1, 188 8
»
June, 1892
1889 to 189G
April 1,1905
May 1, 1895
1880 to’90
1883 to ’86
1889, ’90, ’96
1888 &’98
1900
1903
1898
April 1, 1904
1880 to 1889
Jan. 1, 1891
Apl. 1,1883-1898
July 1, 1904
Jan. 1, 1888
Oct. 1, 1883
July 1, 1894
Mayl, 1895
1897 & 1904
1, 1891
July 1, 1894
Nov.
1899
Savannah.
Security Bank
New York and
A. & O. Boston, Nat.
do
A. & O.
1891 to’94
Nov.
April 1,1881
Oct. 1, 1887
June 1,1882 to ’90
July 1, 1894
do
....
J.
.
do
do
do
do
do
do
do
City Treasury.
1
Due.
do
do
do
do
do
do
do
1896
Feb. 1, 1909
April 1, 1879
April, 1879 to ’84
July 1, 1880 to’84
Oct.’81-’4,July,’85
July, ’84, Apl.,’95
Various
Apl., ’95, July, ’96
Various
5
1881 to 1884
Various
()io
1880 to 1906
Various
320,000 5I2,6,6ie
1879 to 1884
Various
City Treasury.
4 J2, 6
222,000
1880-1889
Various Boston, First National B'k.
6
211,000
do
Apl. 1,’94, to 1905
do
A. & O.
6 & 7
1,200,000
do
do
Apl. 1. 1879-1893
A. & O.
7
280,000
1880 to’94
1,310,000 6, 7 & 8 Various N. Y., Imp. & Trad. N. Bk.
May, 1900
do
do
M. & N.
73
447,000
June.’93& Sep.,’94
do
do
Various
8
1,000,000
1879 to’81
do
do
Various
7 & 8
640,300
1881-1884
J. & D.
City Treasury.
5 & 6
45,000
Ai>ril 1, 1892
A. & O. C.Treas.&Bost. Mchts.’ Bk.
6
800,000
1887-89 & 1905
do
do
Various
5
500,000
April 1, 1905
do
do
A. & O.
4
500,000
1880 to 1899
do
do
Various
5 & 6
311,900
1880 to 1906
do
do
Various
5 & 6
385,400
5
Large.
Large.
g.
g.
g.
g.
gg-
7
7
6
7 & 6
6
6
Whom.
Pay’ble
Principal—When
and by
100,000
&c.
&e.
&c.
&c.
&c.
&c.
&c.
&c.
&c.
&c.
&c.
&c.
100 &c.
6
6
6
6
5
6
Where Payable,
N. Y., Kountzc
do
do
do
do
do
do
do
707,425
48,740
263,125
200,000
100,000
100,000
Large.
City debt
.
1,900,000
100 &c.
100 &c.
-
Water loan
950,000
100,000
500,000
600,000
850,000
1,000
1,000
1,000
1,000
1870
Public Park (Como.)
Local
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1853 to ’55
When
Rate.
1187596.
118877669..78
Bridge approach bonds (gold)
St. Louis County bonds assumed—
Bonds to railroads, coupon
in these Tables.
immediate notice of any error discovered
INTEREST.
Size or
Date of
DESCRIPTION.
For explanations
[VOL. XXXI.
SECURITIES.
CITY
XIV
512
^
St. Paul, Minn.—Population in 1870 was 20,030; in 1880, 41,619.
$206,070; 1895, $181,021; 1900-6, $108,458. Assessed valuations of taxable property and tax rate have been:
Personal
Total
Sinking
Population, 1870, 68,901; 1880, 104,760. The laws of Rhode,Island
Rate of Tax
now limit the debts of towns to 3 per cent of their assessed valuation.
Propertv. .per $1,000.
Debt.
Funds, &c.
Years.
Real Estate.
Assessed valuations (true value), tax rate, &c., have been:
Assets in Sink.
$20,836,710 $6,919,216
22 mills. $1,323,812 $616,292
Total
Personal
Tax per
Real
Funds. &c.
18,835,525
6,340,493
16 “
1.332,500
551,755
Debt.
Estate.
Property.
$1,000.
Years.
*18,993,545
5,452,871
18 “
1,327,200
567,(>42
$9,632,246 $1,123,442
$84,981,000 $36,084,200 $14 50
17,300,486
13 “
1,356,444
5,491,026
616,000
1,195,253
10,294,446
14 50
32,085,000
85,789,800
1,519,310
17,300,766
5,942.503
15 “
656,000
1,292,697
30,699,400
14 50 10.590.550
86,341,100
1878....
1,237,00& —Valuation of real estate is about 40 per cent of true value.
28,765,600
14 00 10.475.550
86,816,U O
1879....
28, p 578.)
Salem, Mass.—The sinking fund amounts to about $200,000. Popula¬
State valuation, $168,547,726 ; city, $115,581,200. (V.
tion, 27,327 in 1880; 24,117 in 1870. Tax valuation, 1879, $22,978,677.
of Genesee Valley
Rochester.—Total debt, $5,966,410.
The bonds
San Francisco.— Population. 233.066 in 1880; 149,4*82, in 1870.
Real
Railroad loan. $168,000, are provided for by net receipts from a lease of
said road to Erie Railway. Assessed valuation (60 per cent of true estate for the fiscal year ending June 30, 1880, was assessed at $164,939,604. About $37,000,000 of mortgages are now omitted from assess¬
value), rate of tax, &c., have been:
Rate of tax
ment. Sinking funds raised annually amount to $263,500. Tax rate in
Total
Personal
per $1,000
1879, $1 37 per $100; in 1880, $1 57 per $100, for city and county pur¬
Real
Debt.
in old Wards.
Estate.
poses. (V.28, p. 165.)
Property.
Years.
18-75
$5,594,686
$1,958.900 Savannah, Ga.—Default was made on interest Ncnr. 1. 1876, in conse¬
1876.... $53,661,475
20-21
5,549,186
2,003,800
1877....
48,196,975
19-64
5,471,686 quence of yellow fever and non-collection of taxes. The compromise,
1,706,300
42,658,350
1878
as reported in V. 26, p. 625, gave new 5 percent bonds for the face of old
21-79533
5,446,186 bonds
1,584,940
1879...
37,717,175
; and for interest up to Feb. 1, 1879, 58 per cent of the face value
in similar bonds. Assessed value of real estate and tax rate each year
—Population, 87,057 in 1880; 62,336 in 1870.
Richmond, Ya.—Real estate assessed, 1880, $28,348,283; personal, have been as follows: In 1875, $13,932,012, $22 50; 1876, $14,256,540,
$7,471,488. Tax rate, $1 40. Population, 63,243 in 1880 ; 51,038 in $22 50; 1877, $14,256,540, $15; 1878. $9,946,633, $25; 1879,
$10,100,000, $25. Population in 1870, 28,235, against 30,747 in 1880.
1870.
Rockland, Me—Valuation of real estate, 1879, $2,488,883 ; personal, —(V. 26, r. 18, 626; V. 27, p. 122, 173, 568; V. 28, p. 17.)
Somerville, Mass.—Total debt, January 1, 1880, $1,585,000; sinking
$1,069,436. Tax rate, $29 per $1,000. Population, 7,473 in 1880;
fund, $198,000. Except $140,000 5s in $1,000 pieces, all bonds are in
7,074 in 1870.
St. Joseph, Mo.—Population in 1870 was 19,565.
Assessed valua¬ $2,000 to $50,000 pieces. Population, 24,964 in 18»0 ; 14,635 in 1870.
etnking funds of 1893,
.
.
...
.
.
rate of tax,-23 mills. A compromise
Springfield. Mass.—Total debt, January, 1880, $1,960,750. The rail¬
face is in progress, in new 4 per cent road debt falls due $20,000 each year. Population in 1880,33,536;
bonds, except for bridge bonds 5 per cent. (V. 23, p. 135, 175; V. 25, 1870, 26,703. Tax valuation and rates have been :
Personal Rate of Tax
Total
Sinking
p. 408; V. 28, p. 477.)
.
Years.
Real Estate.
Property, per $1,000.
Debt.
Funds.
St. Louis.— Population by the United States census in 1870 was
23,737,000
13 00
1,946,611 . 303,989
6,955,776
310,864, against 333,577 in 1880. The city and county were merged
22,746,330
6,637,845
11 00
1,953,716
153,633
by law in 1877 and city assumed the county bonds. The Comptroller
22,211,230
7,230,094
12 00
1,960,750
139,279
rives the following in his report to April, 1879 : The liabilities appear as
follows; The bonded debt at the close of fiscal year (April 9, 1880) is —Valuation of real estate is about 67 per cent of true value.
Toledo—Total debt, January, 1879, was $3,531,296. Of this the debt
$22,507,000. A claim of the St. Louis Gaslight Company for gas fur¬
nished. amounting in all to about $350,000, was decided against the city in payable by special assessments was $640,300, and the certificates of
1880. Assessed valuation of property andtax rate have been:
indebtedness, $103,147. Taxable valuation of real estate, 1878, $134,-Rate of tax per $ l ,000.Real Estate
030,070; personal, $5,567,000. Tax rate, $3 28 per $100. PopulationBonded
Old
Sinking 53.635 in 1880; 31,584 in 1870. . (V. 30, p. 356.)
New
and Personal
Funds.
Debt.
Limits.
Limits.
Years.
Property.
Worcester, Mass— Total debt, January 1, 1880, $2,542,300. Aeaeia,
$16,319,000 $718,588
$19 00
$20 00
$162,465,410
716,802 $210,658, including $94,937 sinking fund. Population, 58,040 in 1880;
17 50
5 00
23,067,000
179,708,760
17 50
590,095 41,105 in 1870. Tax valuation, 1870, $34,018,450* 1878, $39,572,158:
5 00
22,655,000
173,086,330
tion of property, $11,000,000;
of the debt at 60 per cent of its
164.399,470
5 00
22,596,000
547,181
tax
rate, 1-56.
D ECEMBEItj
KAILROAD
1880.J
Subscribers will confer
a
Miles
Ac.,
seo
notes
95
(for $1,750,000)
Albany d Susquehanna—Stock
mortgage
Consol, mort. (guar. D. AH. endorsed
on
bonds)..
Allegheny Talley—Stock
General mortgage (Kiv. Div.)
Bonds to State Pa. (endorsed) 2d mort.. East ext.
1st mort.. East’ll Exten., guar,
by Pa. RR
Funding income bonds, with traffic guarantee....
Size,
$1,000
•
....
296
177
142
142
142
142
259
132
110
110
1878
....
•
•
•
$1,000,000
Bonds for stocks purchased, gold
Bonds (San Marcial to El Paso), $25,000 per mile.
Wichita & Southwest., 1st M., gold, guar
Kans. City Top. & West. 1st mort., gold
do
do
income bonds
Pueblo A Ark. Valley, 1st mort., gold
do
do
1st mortgage, gold, guar..
Pleasant Hill & De Soto, 1st M., gold
Florence El Dorado A W., 1st mortgage, gold
New Mexico A So. Pacific—1st mortgage, gold
Atlanta d Charlotte.—New pref. mort
30
62
234
....
867
1,000
100
50
2,166,500
4,000,000
3,000,000
10,000,000
100 Ac.
6,986,800
1,000
150,000
1,000
1,500,000
1,000 16,000 p. in.
100
25,000,000
500 Ac.
7,041,000
500 Ac.
3,115,500
....
l.ooo
100,000
1,000
....
1869
1870
•
•
•
•
....
....
27*2
65
....
148
137
44
31
380
2651s
2651a
....
Road
Nov., 1878.
1878
1880
1,000
1,000
1,000
1,000
1872
1875
1878
1875
1878
1877
1877
1878
1877
....
‘
....
p.
Payable
6
8
0 g-
500
120,000
310,000
1,000
1,942,200
1,000
1,000
5,610,000
1,000
4,250,000
Capital stock, $2,000,000; first mortgage (on 95 miles) 6
3*2
’
7
6
7"
7
500,000
Years.
1875
1876
1877
1878
1879
J.
M.
J.
J.
A
A
A
A
J. A
M. A
A. A
A. A
•
Ponds—Princi¬
Where
J.
N.
pal, When Due.
Payable, and b\
Whom.
Y., Jesup, P. A Co.
Stocks—Last
Dividend.
July 1, 1918
S.
1882
J. N.Y.,Farmers’ L. A T. Co
Jan. 1, 1908
J. N. Y., B’k of Commerce.
Jan. 1, 1880
J. N.Y.,Del. A Hud.Can.Co
July, 1888
N.
do
do
Nov., 1895-’97
O.
do
do
Oct.. 1885
O.
do
do
April 1, 1906
730 J. A J. N. Y., Winslow, L.ACo. March 1, 1896
5
Jan’ary Harrisburg, Treasury. 100,000 y’rly.
7 or 6 g. A. A O. Philadelphia or London April 1, 1010
7
A. A O. Pittsburg, Co.’s Office.
Oct. 1. 1894
7 g. A. A O.
New York.
1893
6
F. A A. Phil., Fid. I.T. A S.D.Co. Aug. 1, 1908
6
N. Y., Hanover N. Bk.
Q.-F.
May 1, 1905
2
F. A A.
Boston.
Nov. 15, 1880
7 g. J. A J.
do
July, 1899
7 g. A. A O. Boston, North Nat*. Bk
Oct. 1, 1900
7 g. A. A O.
do
do
1903
7
J. A J.
Boston.
1882
8
J. A J.
do
Jan. 1, ’83-’88
5
A. A O.
do
April 1, 1909
7 g.
7 g.
200.000
1,633.000
opened from York, Ala., to Lauderdale, Miss. (14 miles)
40, 566.)
78,000
480,000
1,185,000
(?)
412,000
854,000
1,000
1,000
per cent 40-year bonds, due July 1, 1918, $1,000,000. Income mortgage
8 per cent (if earned) 40-year bonds, due July 1, 1918, $1,400,000;
total stock and bonds under re adjustment, $4,400,000. Gross earnings
in 1879, $204,319, and expenses, $144,236; net traffic earnings, $60,083.
(Y. 27,
278^500
....
500 Ac.
1880
When
Cent.
1,000,000
933,000
1,967,000
2,320,000
Alabama Central.—December 31, 1879. owned from Selma, Ala., to
Lauderdale, Miss., 96 miles; leased (M. A O.), 18 miles; total operated.
114 miles. Chartered as Alabama A Mississippi February 17, 1850, ana
road opened from Selma to York (81 miles) Aug. 10,1863.
Subsequent¬
ly name ohanged to Selma A Meridian, and June 21, 1871. re-organized
as Alabama Central.
Default January 1, 1872, and finances re-adjusted
in 1878.
xv
Rate per
1,050,000
3,500,000
1,000
1,000
1,000
1,000
.
*
....
Amount
600,000
....
1863
1865
1865
1876
1866
1870
1871
1874
1878
1878
1879
Outstanding
569781781
Alliance d Lake Erie— 1st mort., sinking fund, gold
Ashtabula d Pittsburg-1 Hi mortgage, coup, or reg..
Atchison Col. & Pacific—1st mort., guar
Atchison Topeka d Santa Per—Stock
1st mortgage, gold
Land grant mortgage, gold
Consol, bonds, gold
Construction notes
Land income bonds, 5 to 10 years
Mortgage bonds
BONDS.
INTEREST OR DIVIDENDS.
or
Par
Value.
1878
....
1st mortgage, coupon,
'..
Albany City loan (sinking fund, 1 per ct. yearly).
2d mortgage
Date
of
of
Road. Bonds
Alabama Central— 1st mortg. gold coupon
Ala.dk Ot.South’ll. —Receiver’s eertitic.or Ala.AC'liatt
1st
AND
great favor by giving Immediate notice of any error discovered In these Tables.
DESCRIPTION.
For explanation of column headings,
on first page of tables.
STOCKS
7
7
7
7
7
7
7
g.
g.
g.
g.
g.
J.
J.
A J. Boston, North Nat. Bk.
A J. Boston, Everett N. Bk.
do
do
J. A J. Bost.,N. Bk.of Republic
J. A J.
do
do
A. A O. Boston, Everett N. Bk.
A. A 0. Boston, Bk. of No. Am.
Boston.
A. A 0.
New York, Office.
J. A J.
do
Stock.
Bonds.
Earnings.
July 1, 1902
July 1, 1905
1905
July 1, 1905
1907
July 1. 1907
1908
April 1, 1897
Jan. 1, 1907
Expenses.
Profits
$1,900,000
....
....
....
....
Atchison
$226,816
1,817,582
1,817,880
1,671,867
$58,330
1,900,000
2,000,000
$168,486
178,998
176,993
181,731
87,643
50,213
89,927
1,658,491
1,500,000
266,641
227,206
271,658
252,601
183,625
68,978
1,500,000
Colorado d Pacific.—A notice issued in February, 1880, by
Henry Day and Oliver Ames, trustees of the first mortgage bonds, stated
Washington, Republican Valley, Atchison Solomon
Valley A Denver and the Atchison Republican Valley A Pacific railway
that the Waterville A
companies
been consolidated into anew company called the Ateliison
Colorado A Pacific Railroad Company, and a new first mortgage of $16,000 a mile, with interest at 6 per cent per annum, Jssuexl to take the
Alabama Great Southern.—December 31, 1879, owned from Wauhatplace of the first mortgage bonds of the railroad companies named. The
•hie, Term., to Meridian. Miss., *290 miles; branch, Attala, Ala., to road is an extension of the Union Pacific Central
Branch, by which the
Gadsden, 5 miles ; leased, Wauliatchie to Chattanooga, 6 miles; total bonds are
guaranteed and the road is controlled, and the whole system is
operated, 301 miles.
Northeast A Southwest Alabama chartered
(V. 30 p. 221.)
December 12, 1853. Re-organized as Alabama A Chattanooga October viitually owned and controlled by Union Pacific.
Atchison Topeka d Santa Fe.—Dec. 31,1879, owned main line, Atchison,
6, 1868, and was opened May 17, 1871. Default made Jan. 1, 1871, and
road sold under foreclosure January 22, 1877.
Present company Kan., to State line, Colorado, 470 miles. Leased lines, Kansas City to
organized November 30, 1877. New company assumed Receiver’s cer¬ Topeka, 66 miles; Pleasant Hill to De Soto, 45 miles; Florence to El
tificates and issued new bonds for $1,750,000. The lands were conveyed Dorado, 29 miles; Wichita to Newton, 27 miles; Pueblo to Kansas State ‘
line, 1.37 miles; La Junta to New-Mexico, 93 miles; Emporia to Kansas
in full settlement to the holders of the $2,000,000 of Ala State bonds.
These lands (about 550,000 acres) are held by trustees.
(V. 30, p. 117.) State line (GreenwoodCo.), 64 miles; Kansas Htate Line (Greenwood
The road and equipment have been thoroughly renewed. Capital stock— Co.) to Howard, 12 miles; Florence to McPherson, 47 miles; Wichita to
Common, $7,830,000, and preferred 6 per cent, $783,000 ; funded debt, Arkansas City, 51 miles; Mulvano to Wellington, 16 miles; Colorado
$1,750,000, and Receiver’s certificates, not exceeding $1,200,000; total State line to Las Vegas, 118 miles; total, 708 miles. Total length of
line at end of 1879, 1,178 miles. Construction in active progress in
as per reorganization terms, $11,563,000.
Over $100,000 of the Re¬
ceiver’s certificates are disputed, and therefore only about $200,000 of 1880, and Nov. 1. 1880, about 1,544 miles were operated, including 285
those above are acknowledged as valid. Gross earnings in 1879, $444,- miles of Pueblo A Arkansas Valley RR. and 374 miles of New Mexico A
181, and operating expenses, $356,283; net earnings, $87,897. (V. 27, So. Pacific. The Kansas City Lawrence A Southern was acquired by pur¬
chase of the stock in September* 1880.
p. 67, 85, 121. V. 30, p. 117, 648; V. 31, p. 94 )
An agreement was made in Feb., 1880, with the St. L. A San Fran., for
Albany d Susrpuehanna.—December 31, 1879, owned from Albany, N* the joint construction of a line
name of Atlan. APao.
Y., to Binghamton, N. Y., 142 miles; branches—Quaker Street, N. Y.* For terms see St. Louis A Santo the Pacific* underHui>1'I,kwknt, and also
Francisco in this
to Schenectady, 14 miles; Cobleskill, N. Y., to Cherry Valley, 21 miles 5
the circular published In Ciikonici.k of April 24, 1880. The company in
total operated, 177 miles. Chartered April 19, 1851, and road opened
1879 was engaged in sharp litigation with the Denver A Rio Grande. In
Jan. 14, 1869. Steel rail, 135 miles. Leased in perpetuity from Fel).,
January, 1880, by terms of mutual agreement, the suits were all termin¬
1870, to Delaware A Hudson Canal Company; rentals, 7 per cent on ated. The
agreement is to be binding for ten years, and a judicial decree
■tock and bonds.
Additions and betterments ohargexi to lessors, and was
entered to affirm this settlement. The annual report for 1879 was
©ost made part of investment.
In 1871 lessees built the Lackawanna A
published in the Chronicle, V. 30, p. 491. Net income, etc., for four
Susquehanna Railroad fc-om Nineveh to their Pennsylvania coal fields, years was as follows:
and secured the joint ufcc of the Jefferson Railroad. This opening has
1876.
1877.
1878.
1879.
given a large coal traffic to the road and to the other Delaware A Hud¬ Total net income
$1,171,878 $1,191,856 $1,928,589 $3,748,410
son leased roads north from
Albany to the Canada line. Capital stock,
Disbarsem en ts—
-.
$3,500,000; funded debt, $6,045,000, and other liabilities (advances, Rentals paid
279,921
401,267
836,772
295,404
Ac.), $379,461 ; total investment ($69,559 per mile), $9,918,461. The Interest on debt
833,653
790,513
795,446
669,035
consolidated mortgage is for $10,000,000, of which $3,450,000 is to
Dividends
691,311
retire old bonds, and balance for a part of old stock and to lessee for im¬
45,799
72,812
Sundry debits
provements. Gross earnings in 1879, $1,218,237, and net earnings, Gold
25,734
4,083
premium
55,662
$558,268, against $456,580 in 1878. Interest, dividends, and rentals, Exp’ses Boston office.
30,199
17,733
40,490
16,668
$700,761. Loss to lessees, $142,493. (V. 27, p. 602; V. 29, p. 581 ; V. Miscellaneous
3 4,124
22.108
14,326
31, p. 357, 483.)
20,691
1,311,579
631,620
Balance, surplus/
120,783
Allegheny Talley.—Dec. 31,1879, owned from Pittsburg, to Oil City,Pa.,
Total
$1,171,878 $1,191,856 $1,928,589 $3,748^15
132 miles; branches—Red Bank, Pa., to Driftwood, 110miles; others, 17
Operations and earnings for five years have been as follows:
miles; total operated, 259 miles. Chartered April 4,1837. Road opened
Net
Gross
Freight (ton)
Passenger
through to Oil City (132 miles) Feb. 2, 1870. Low-Grade Div., Red Bank
Miles.
Mileage.
Earnings.
Earnings.
Mileage.
to Driftwood (110 miles) opened May 4, 1874. The company became em¬ Years.
711
$1,520,358
$821,608
46,244,990
7,166,852
barrassed in 1874 and compromised with its creditors.
It still falls short
711
2,486,582
1,167,608
61,791,130
17,031,491
of earning interest liabilities, which amount to $1,630,000 a
year, viz.:
786
2,679,106
1,191,856
72,719,3 70
22,008,549
on mortgage bonds, $1,152,000, and on income bonds, $478,000.
The
868
3,950,868
1,883,898
133,180,182
31,921,869
amount of income bonds authorized is $10,000,000; these receive all
6,381,443
3,418,315
1,167
revenue left after interest on prior liens, and any deficiency is made up by
additional issues. The income coupon for Oct. 1, 1880, received|fc9 50 In
Land grant estimated to be 2,932,784 acres, of which 1,105,629 acres
©ash and $25 50 in bond scrip. Or the income bonds the Pennsylvania were sold to January 1, 1880; in 1879,104,744 acres were sold, for
RR. Company hold $4,233,000, the interest on which is paid altogether $494,353, or $4 72 per acres. The K. C. T. A W. is leasd at 30 per cent
in bond scrip; the bonds held by individuals are paid in cash and scrip. of gross earnings, rising to 34 per cent in 1880 and thereafter. Tbe
Interest and sinking fund paid, $1,152,486. Interest, Ac., in excess of New Mexico A Southern Pacific is leased for thirtv years at 37 per cent
net earnings, $390,651. The earnings, Ac., for five years were as follows: of gross earnings and a rebate of 15 per cent on all business to and from
the Atchison Topeka A Santa Fe Road, and 11 shares of A. T. AS. F.
Passenger
Freight (ton)
Gross
Net
stock was offered for 14 shares of N. M. A S. P. stock till April 10, 1880;
Years.
Mileage.
Mileage.
Earnings.
Earnings.
See V. 30, p.
12,448,963
95,859,906
$2,399,638
$984,642 bonds were 168, 383 ; V. 30, Supplement of June 26. The 5 per cent
issued for stocks purchased, and 4*2 per cents for extension
14,939,527
98,029,140
2,438,254
1,083,796
of the line to El Paso, and have the 6 per cent mortgage bonds of
19,833,405
106,609,036
2,492,080
1,144,972
those roads deposited as security for them.
(V. 30. p. 16,42, 143, 168,
15 «74,054
84,077,541
1,910,222
915,727
94,606,809
13,976,446
1,745,316
761,835 191, 383, 408, 433, 491, 504, 533, 543,674; V. 31. p. 109, 381,428,
482, 559. 588, 606.)
(Y. 27, p. 356; V. 28, p. 399; V. 29, p. 356; V. 30, p, 463; V. 31, p. 381.)
Atlanta d Charlotte Air-Line.—De©. 31,1879, owned from Charlotte,
Alliance d Lake Erie.—June 30, 1879, owned from Alliance, O., to N.
C., to Atlanta, Ga., 269 miles. Successors of Riehm.A Atl. Air-IJne,
Phalanx, O., 23 miles. In progress in 1880.
which was a consolidation (1870) of three separate lines in No. Carolina,
Ashtabula d Pittsburg.—December 31, 1879. owned from Youngstown, So. Carolina and Ga. The whole road w as opened for traffic Sept. 26,
O., to Astabula Harbor, O., 62'6 miles. Organized as Ashtabula Yoimgs- 1873. Soon after completion default was made, and the property passed
town A Pittsburg in 1870, and road opened May 1, 1873. Pennsylvania to a receiver November 25, 1874. Sold under foreclosure December 5,
Company, as lessees, guaranteed bonds up to January 1, 1877. Default 1876, and purchased by the bondholders, who formed the existing corJuly 1,1878, and property sold August 21, 1878. Existing company jw>ration February 27, 1877, and imsscssion w'as taken April 16, 1877.
organized September 25, 1878, and it is leased by Penn. Co., which pays The line forms the Southwestern Division of the Piedmont Air-Lin#
net earnings to A. A P. The common stock is $958,491 and preferred (under control of the Richmond A Danville Railroad), extending from
■took $700,000. Earnings, Ac., for five years were as follows :
Richmond, Va., to Atlanta, Ga., 550 miles. Capital stook $1,700,000,
..
_
.
Subscriber* will confer a great favor
explanation of column headings, Ac., see notes
on first page of tables.
Atlanta d Went Point—8 toe a
Atlantic Miss. & Ohio—Stock (com’n. pref. & guar.)..
1st mort.
consolidated, gold (for $15,000,000)
2d mort. to the State (no interest till 1880)
Norfolk A Petersburg—1st mortgage, extended.,
do
do
1st
do
do
do
do
2d
do
South Side—1st pref. consol, mort
2d
do
do
guar. Petersb’rg
do
do
3d
do
do
4th mortgage
do
do
18745-690
discovered in these Table*.
DIVIDENDS.
Miles Date Size, or
Amount
Rate per When Where Payable, and
of
of
par
Outstanding
Whom.
Cent.
Pay’ble
Road, Bonds Value.
87
428
428
428
81
81
81
133
133
133
Registered certificates
Interest funding bonds
do
do
All. & Pac. —1st M.,g.,s.f.,cp.or reg.(for $25,000,000)
Income bonds (non-eumulative)
Atlantic d St. Lawrence— Stock, sterling
2d mortgage, sterling, 5-20 years
do
3d
do
do
Augusta d Savannah—Stock
Bald Eagle Valley—(ini’I mort.,(s. f. $4,000 per yr.>
BjUlimore d Ohiit—Stock
Preferred stock
do
1870 sterling, £800,000, sink,
Baltimore loan, 1855-’90, sink, fund
[Vol. xxxr.
by giving Immediate notice of any error
214
214
Virginia & Tennessee—Enlarged mortgage
Loan, 1853
BONDS.
Bonds—Princl.
INTEREST OR
DESCRIPTION.
For
STOCKS AND
RAILROAD
XVI
—
150
150
150
53
54
595
......
1*871
i
411
421
'
....
1871
500 Ac.
1857
500 Ac.
1857
1808
1,000
I860
1,000
200 Ac.
1806
200 Ac.
I860
1854
1,000
1865
1,000
Var’us Various
100 Ac.
1869
1880
1,000
50 Ac.
1880
£100
£100
1804
£100
1871
100
1880
1,000
100
100
1870
1855
1874-5
1872
1874
1875
$1,232,200
0,921,900
5,470,000
4,000,000
300,000
157,000
458,000
084,000
021,000
452,500
990,000
909,000
84,190
220,900
25,000 p. hi.
18,750 p. rn.
5,484,000
1,500,000
713,(lOO
1,022,900
0
8
8
8
« g.
0
3 g6 g.
6 g.
3*12
6 g.
0 g.
9,107,547
800,000
£200
£100
£200
1901
N.Y., Perkins A Choate.
Jan.
1,
1887
Jan.
1, 1887
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
A.
M.
A.
M.
J.
J.
M.
J.
0 g.
« g-
1,710,000
1,
8
7
8
8
0
0
908,000
8,507,352
£5,000,000
Oct.
A. A O. N.
2,833,520
14,792,500
Y., First Nat. Bank.
m
7 g.
0
5
3
6
0
400,000
1881
....
A.
0
M.
J.
J.
M.
M.
J.
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
O.
8.
O.
N.
I>.
J.
N.
J.
O.
S.
J.
J.
8.
N.
J.
Slocks—Last
Dividend.
Jan. 1,
A J. Atlanta, Ga.,
J.
4
.mm*
2.882.950
1853
fund
Debentures, sterling.
Sterling mortgage, sinking fund
Sterling mortgage, sinking fund
Purchase of Connellsv. ER (payable $40,000 y’ly)
$100
pal,When Due.
by
m
m.
atTrcas’y.
m
m
m
do
m
do
do
do
July 1, 1893
do
do
do
do
do
do
do
do
do
do
Jan. 1, '84-’90
Jan. 1. '84-’90
Jail. 1/90-1900
July 1, 1884
Men. 1, 1900
1, 1875
1, 1880
July 1, 1910
Jan.
Lynchburg Oflice.
N.Y., Perkins A Choate.
New York and Boston.
July
Oct. 1, 1910
London, Gr. Trunk Rw. Sept. 15, 1880
I/ondon, Gr. Trunk Rw. Apr-Ill, 1881
do
do
May 1, 1881
Savannah.
Dec., 1880
PhiIa.,Far.A Mech.N.Bk Jan. 1, 1910
Nov. 15, 1880
Baltimore Office.
Balt., Merchants’ Bank.
Baltimore Office.
London.
Baltimore, Office.
London, Naylor A Co.
London.
London,
Speyer Bros.
Jan., 1881
1885
1895
1890
Jan. 1, 1881
Mch. 1, 1902
1910
Baltimore.
1881-1900
about 000 miles, in connection with the Ateh. Top. A 8. Fe and the St. L. A
and funded debt $4,750,000; total investment ($23,078 per mile),
Han Fran., which companies guarantee25 per cent of the gross earnings
$6,450,000. Total receipts in 1870 $777,298, and expenses $023,294; over their respective lines to and from this road, one year after its com¬
net earnings, $154,003. Interest paid (preferred mortgage coupons),
its own earnings are insufficient to pay coupons. The
$36,000. Surplus over interest, $119,003. Interest on the first mortgage pletion, providedat par, with
bonds were sold
a bonus of $750 in income bonus for eacn
registered bonds ($4,250,000) has heretofore been conditional; but from
$1,000 first mortgage. The hind grant claimed under the old A. A I*,
Jan. 1,1880, it is obligatory. (V. 28, p. 277, 427; V. 30, p. 272, 432.)
grant is 25,000 acres i>er mile in Territories and 12,800 acres in 8tates,
Atlanta d West Point.—June 30, 1879, owned from East Point, Ga., to and on
completion of the first 50 miles, October, 1880, the U. 8. Attor¬
WestPoint, Ga., 81 miles; leased, O1^ miles; total operated, 87^ miles.
ney General held that the company was entitled to the lands on that
Chartered December 0, 1847, and opened for traffic September lO, 1857. section. Bee Chronicle, V. 30, p. 433; V. 31, p. 204, 428, 452, 482, 534.
The Central of Georgia is used to reach Atlanta, 0*2 miles, and for this
Atlantic d St. Lawrence.—Anna 30, 1879, owned from Portland, Me., to
joint use the company pays $0,000 a year. Besides the stock ($1,232,200) Island Pond, Vt., 149*2 miles, there connecting with Grand Trunk of
there are outstanding $05,000in 8 percent del suifurcs. Gross earnings
in 1878-79, $330,202; expenditures, $200,892; net, $123,370; gross, Canada, to which leased for 999 years, August 5, 1853, at a rental
earnings in 1879-80, $308,130; net, $153,319. (V 29, p. 300; V. 31, p. equal to 0 percent on stock and lsnid interest. Capital, $5,484,000
(of which $27,000 is in U. 8. currency). Bonds of 1881 will be paid off.
121.)
Earnings, Ac., for three years:
Atlantic Mississippi d Ohio.—June 30, 1879, owned from Norfolk, Va. Years.
Gross Earnings. Net learnings.
to Petersburg. Va., 81 miles;
Petersburg, Va.. to Lynchburg, Va., 1877....
$891,375
*$234,075
123 miles; Lynchburg, Va., to Bristol, 204 miles; branches—Peters¬ 1878
921,959
92,584
burg to City Point. Va./10 miles; Junction to Saltville, Va., 10 miles; 1879
;
824,790
38,750
total operated, 428 miles. This was a consolidation, November 12.
Loss.
1870, of Norfolk A Petersburg, South Side and Virginia A Tennessee; -(V. 27, p. 147.)
in all, with branches, 428 miles.
In all these routes the State of Vir¬
Augusta d S<icannah—Sept. 1, 1879, owned from Milieu to Augusta,
ginia held the controlling interest, and on reorganization sold out to the
company for $4,000,000 in second mortgage bonds, non-interest bearing Ga., 5.3 miles. Chartered as Burke (bounty in 1838 and ojnmed in 1854.
leased to Central of Georgia for $73,000 per annum. Has no bonded
before July 1, 1880. Default on consolidated Isolds was made October
1. 1873. Two receivers appointed June 0, 1870. In process of fore- debt. The capital ($1,022,900) represents its cost. Dividends of 3*2 per
«lo*ure. Interest has been paid by Court order on sectional bonds. The cent are paid June ami Decernl>er each year. Has a considerable surplus
*
divisional bonds matured and maturing prior to July, 1880, have been
extended for ten years by order of the Court, and new sheets of coupons
are issued to the holders.
Interest on the divisional bonds is paid, and
in January, 1881, $2 on each whole coujkui and $1 each oil half-coupons
of the consolidated bonds are paid. A final decree of sale under the con¬
solidated mortgage wras made in May, 1879, and sale noticed for Nov. 1,
1880, hut postponed to February 10, 1881. The bondholders’ com¬
mittee circular of June, 1880, is in V. 31, p. 43, and last plan of re¬
organization on p. 121. The divisional bonds will remain unchanged
approximately as follows;
Norfolk A Petersburg Railroad
$907,000
South Side Railroad.
1,738,500
Virginia A Tennessee Railroad
Interest funding notes issued January 1, 1874, 8 per cent...
2,395,590
134,584
$5,235,074
bonds, Ac., to be issued are the following; 0,000 first mortgage
6«, $1,000 each, having 30 years to run. 5,470 second mortgage 5s,
$1,000 each, having50 years to run; (these will only 1>ear interest at
the rate of 4 per cent until the first of April, 188-4, and 5 per cent there¬
after.) Four per cent income mortgage bonds will be issued for the
Total
The
new
overdue interest on consolidated 7s to the date from which the new'
•eeond mortgage bonds commence to run, with 0 per cent interest; and
for the differenee between the interest secured by all the issued con¬
solidated 7s gold bonds and the interest secured by the new’ second
mortgage bonds, capitalized in full from the date when the latter com¬
mence to run to the 1st of October, 1901, inclusiye.
Interest w ill not
be cumulative, but payable each year if earned. Stock will be issued
for $547,000 in 5,470 shares of $100 each. For each $ 1,000 consoli¬
dated 7 per cent gold bond, with all couiwmH unmatured at the date
from which the new' second mortgage bonds commence to run, there will
be delivered $1,000 new' second mortgage bond and $100 new stock.
Additional reorganization income bonds and stock, as well as additional
bonds of an inferior rank to the said income l>onds, may be issued, and
may be used for providing the purchase money of the property, Ac.
The purchasing committee may charge the cost and expenses incurred,
or to be incurred, in and al>out the scheme, and not paid in the course
of the foreclosure proceedings upon the reorganization second mortgage
bonds,
bonds,
income
and sunk to 1m; delivered as aliove.
Th^y may also charge, or concur in charging, all or any part of the costs
and expenses of the foreclosure proceedings and of all other matters
connected with the reorganization upon the first net earnings of the new
company after providing for the current interest ujKm the divisional
securities and first mortgage bonds issued and outstanding.
There is a project for the consolidation of this company, after fore¬
closure sale, with the East Tennessee Virginia A Georgia and the Mem¬
phis A Charleston, so as to make a through line from Norfolk and City
Point to Memphis—a total length of road equal to 992 miles. Operations
and earnings for six years past ending June 30, were:
Gross
Net
Passenger
Freight (ton)
Years.
Miles.
Mileage.
Mileage.
Earnings. Earnings.
10,071.980
55.982.304
$1,782,45.3 $073,500
10,010,924
00,010,288
1,742,251
540,539
9,531,442
67.531,874
1,791,579
600,633
9,470,228
70,797,570
1,781,710
480,889
8,079,780
73,062,480
1,073,131
012,0-43
428
9,244.350
98,595,455
1,930,041
943,413
—(V. 28, p. 97, 199, 223. 470, 024; V. 29, p. 356; V. 30, p. 66,272,298,
648; V. 31, p. 20, 43, 121, 258, 381, 428, 482, 606.)
Atlantic d Pacific.—Thin is the company formed to build a Pacific line
428
428
428
428
428
fund.
-
Valley.—Decernl»cr 30, 1879, owned from Vail Btation, Pa.,
to I>M‘khaven, Pa., 51 miles; branch, Milcsbtirg, Pa., to BelJefonte, Pa.,
3 miles; total operated, 54 miles.
Opened December 7, 1804, and
leased
to
Pennsylvania Railroad Company for 99 yearn.
The
branch is the joint property -of the lessors and lessees. Rental, 40 per
cent of gross earnings.
Interest, $24,000, and dividends (January and
July, cadi 2*2 per cent), $27,500). Stock, $550,000. This general mort¬
gage, dated Jan. 1, 1880, was provided for the replacement of the two
Paid Eagle
series of bonds.
(V. 27, p. 480.)
Baltimore d Ohio.—Heptcnilicr 30, 1879, owned from Baltimore, Md.,
to Wheeling, W. Va.. 379 miles; branches, Point of Rocks to Washington,
43miles, others, 10miles; total owned, 435 miles; and leased lines oper¬
ated with main line, 113 miles; total represented in operating account*
of the “main stem and branches,” 547 miles; lines operated
and
accounted for separately measure902 miles; making t he total of all line,*
controlled ami ojM;rated by company about 1,4 49 miles. In all these
lines
separately 0]n;rated the Baltimore A Ohio company are very largely
interested, and have absolute control.thereof. An abstract of the last
annual re|M»rt is given in the Chronicle, Vol. 31, p. 533, and the follow¬
ing extracts are quoted therefrom. The subjoined exhibits show the re¬
duction of the indebtedness stated during the fiscal year:
REPORT OF OCTOIJKK 1, 1879.
$2,420,000 Sterlingdebentures due in 1880 and 1881...
539,000
020.507
Bills payable
Sterling obligations and loans
$3,579,507
Total
REPORT of October
1, 1 880.
$908,000
440,000
Sterling debentures due in 1881
Bills
payable
;
v
Total
Showing
Add
a
reduction during the year of
payments on account of the princiiml of debt
and of the
_}. 408.000
$2,171,507
sinking funds during the fiscal year
059,308
Aggregate reduction
$2,>*30,000
The profit and loss account shows, an increase for the year of $2,350,984.
It w ill be seen by this account that the nominal surplus fund, which
represents invested capita) derived from net earnings, and which ls not
represented by either stock or tsmds, now amounts to $40,501,042.
The gross and net earnings of the main stem and its branches and of
the other divisions, for the last fiscal year, as compared with 1878-79,
were as
follows:
,—Earnings, 1879-80.— -—Earnings, 1878-79.—.
Gross.
Net.
Gross.
$11,229,880 $5,172,980
314,405
Washington Branch...
240,490
860,100
Parkersburg Branch
371,829
Central Ohio Division.
1,003,565
311,454
Lake Erie Division
847,221
208,853
Chicago Division
1,548,994
500,073
Pittsburg Division
2,238,481 1,011,827
Wheeling Pittsb. A B..
50,380
8,594
Newark 8. AS. RK....
224,049'
88,259
285,000
634,914
846,512
223,674
195,578
1,153,852
1,598,113
,
..
494,530
732,282
039,821
....
Total
Net.
$8,804,820 $8,341,245
Main Stern, Ac
.
41,193
129,739
272,700
189,114
7,598
45,661
$6,502,384
with all branches
being
and fifty
$18,317,740 $7,986,970 $14,193,980
The aggregate working expenses of the Main 8tcm,
and divisions, were 50*39 per cent of the whole gross revenue,
2*21 per cent more than tlie preceding year. 8cvcn hundred
RAILROAD
December, 1880.]
AND
DESCRIPTION.
1877
1879
263
104
.£200
$7,744,000
$1,000
3,000,000
140,000
399,000
1,500,000
3,(MX),000
11887734--40505. 187-9.,324
Bonds on Parkersburg Branch
Northwestern Virginia. 3d mortgage, 1855-85 ...
Bonds to State of Maryland
Baltimore d J’otomac—lHt M (tunnel) gold, 8. f. 1 p. c.
1st inert., road, gold, coupon, s. f. 1 per (Mint
2d mortgage, income, road and tunnel, reg
Belleville & South. Ill— 1st M.. sink’g fund, guar
Belvidere Del.—1st mort. due 1877, extended, guar.
2d mortgage bonds of 1854 (guar, by C. A A.)
3d mortgage bonds of 1857 (
do
)
do
Consol, mortgage of 1870
•
•
•
1855
•
1878
1871
1871
1875
1899
i*a
89
90
59
94
94
94
84
59
Bennington <& Rutland— 1st mortgage
Berkshire- Stock
Boston & Albany—Stock
1877
1854
1857
1879
1877
22
.
324
registered
1875, coupon or
•
registered
Boston Barre d (Jaraner.—lut A 2d mortgages
Bosl. fjlvn.d: Fitchb.d N.B.— Stock ($1,750,100 pref.)
1st mortgage, Agricultural Branch
•
.
43
....
Bonus, guar, by lease to Old Colony
1 20
1880
199
Sinking fund bonds
1,000
1,000
1,000
2,000,000
500
500
499,500
1,000
1,209,900
1,000
475,000
900,000
20,000,000
5,000,000
1,000
1,000
100 Ac.
1858
1873
....
500 Ac.
100
100
100 Ac.
100 Ac.
29
1870-77
1870-80
...
Earnings.
$12,252,814
11,003,055
10,514,170
0,032,30 L
8,202,015
8,503,050
8,804,820
J 1,220,880
Operating Expenses.
$7,318,018—50 72
Net, Earnings.
$1,031,700
5,018,0(50
4,337,378
p. e.
0,075,805=57-80
“
“
“
“
“
“
“
0,178,801=58-74
5,411,035 = 50 18
4,005,151=55-73
4,521,344=52-83
4.523,581 = 51 02
0,050,000=5301
4,220,720
3,050,803
4,030,011
4,341,245
‘
5,172,080
Dividends for 5 years, 1872-77, 10 per cent; for 1877-78, 7per cent;
for 1878-70, 8 per cent; tor 1870-80, 0 percent. The three dividends
from May, 1878, to May, 1870, inclusive, were paid in stock.
Results of
operating all lines owned and
Years.
3 872-73
1870-77
2 870-80
Gross
Earnings.
$15,003,108
14,047,000
14,444,230
15,031,230
13,208,800
13,705,270
11,103.080
18,317,740
controlled for the eight
years
Operating Expenses.
$10,141,023=04 02 p. e
0,401,051=03 .30 “
0,008,005 =08-50
0,000,857=0301
8,220,055 =02-28
7,700,301=50 11
7,001,505=54-18
10,330,770=50-30
“
“
“
“
“
“
1872-80;
Net. Earnings.
$5,551,575
5,485,430
4,535,574
5,421,370
4,082,805
5,005,078
0,502,385
7,080,070
The Baltimore A: Ohio direct bonds of 1870 on Parkersburg Branch are
secured by deposit of mortgage on t hat road. (V. 28, p. 223, 270, 378;
V. 20, p. 145, 225, 250, 328, 510, 1535; V. 30, p. 544; V. 31, 533, 535.)
Baltimore d Botomac.— Dec.31, 1870, owned from Baltimore, Md., to
Bowie, Md., 24 miles; branches—Bowie to Washington, D.C., 17 miles;
Bowie to Pope’s Creek, 40 miles; total operated, 00 miles. Chartered in
1853; road opened to Washington in 1872 and to Pope's Crook in 1873.
Baltimore Tunnel opened in summer of 1873. The road is controlled by
the Pennsylvania Railroad Co., and firs mortgage bonds guaranteed by
Pennsylvania Railroad and Northern Central Railroad Companies, Fore¬
closure is contemplated.
Capital stock, $3,553,250, fnndml debt,
$0,500.01>0, and other liabilities and accounts, $132,002; total, Dec. 31,
1879, $10,185,252.
Road and equipment, $9,099,295; materials and
cash assets, $93,238; profit and loss, $992,718. Gross earnings in 1879,
$099,772; expenses, $520,201 ; profits, $173,570. Interest, $272,317.
Deficiency, or guarantors’ loss, $98,740. income bonds wholly held by
Pennsylvania Railroad Co. (V. 28, p. 598 ; V. 30, p. 493, 588.)
Belleville d Southern Illinois.—Dec. 31, 1879, owned from Belleville,
Ill., to Dtmiiojn, Ill., 50 miles. Chartered Feb. 15, J857; opened Dee. 15,
1 873, arid leased, during construction, Oct l, 1 800, to fit L. Alton Ac Terre
Haute Railroad Co. is-ase rental 40 per cent of gross earnings up to
$7,000 per mile; 30 per cent above $7,000 and up to $14,000 per mile,
and 20 per cent on any excess of $14,000 per mile. Rental for 1878,
$98,351. Bonds guaranteed by lessees. Common stock, $130,000; pre¬
ferred 8 per cent stock, $1,250,000, and first mortgage 8 per cent sinking
fund bonds,$1,008,(NX); total ($18,759 per mile), $2,750,000. Operated
in connection with the Belleville Branch of Ht. Louis Alton A Terre
Haute Railroad, and extended from Duquoin to FJ Dorado. 50 miles, by
the Belleville Ac El Dorado Railroad Co.; extension opened Oct. 31, 1879.
Belvidere Delaware.—Dec. 31, 1879. owned from Trenton, X. .1., to
Manunka Chunk, S.J., 07 miles; Mdlham Cut-off, 1 mile, FJemington
Railroad, 12 miles; total operated, 80 miles. Chartered March 2, 185.3,
and opened Nov. 3, 1805. Is-ased to United Companies, and transferred
Pennsylvania Railroad March 7, 1870, by which operated as their
Hemal, ail surplus earnings; hut the first, second
guaranteed. (B oss earnings J 878 ($9,281 per mile),
$039,034 ; operating expenses (70-09 per cent;, $180,279; and net earn¬
ings ($2,219 per mile), $152,755. Capital stock, $991,050; funded debt,
$3,444,500, and floating debt, $157,521; total, $1,590,074.
Cost of
"road and equipment ($01,700 per mile/, $1,210,038.
F. A A.
J. A J.
M. A N.
l\
Q-.T.
4
7
M.
F.
J.
A.
9
5
Lon., J. 8. Morgan A Co.
Balt. AN. Y., 1). M A Co.
Balt., Balt. AO. RR. Co.
June 1,
Baltimore.
Balt or London or N.Y.
July 1, 1888
July 1, 1911
l'hila., Penn. RR. Co.
Baltimore.
N. Y., Russell Sage.
1885
April 1, 1911
1, 1915
Oct. 1, 1890
Jan.
Philadelphia, Pa. RR.
Philadelphia.
Philadelphia, Pa. RR.
Treasurer, Trenton,N.J.
N. Y., Union Trust Co.
Stock bridge, Trensurer.
A N.
Boston. Office,
A A.
do
A J.
do
A 0. Worcester, City Nat.
1927
April l, 1919
1902
1885
1887
Jan. 1, 1910
Nov. 1, 1907
Jan. 1, 1881
Nov. 15, 1880
Feb. 1/ 1892
July 1, 1895
Bk.
April 1, 1893
abandoned by lessees. Hinee September 10, 1877, the Vermont, division
(as above) operated by the re-organized Bennington A. Rutland. Mock
$1,004,000 (pur $100), and bonds $475,000; total, representing cost of
road ($25,0(18 per mile), $1,479,000. Interest liability, $32,250 a
year.
Berkshire.—Sept. 30, 1880, owned from Connecticut State Line to
West Stock bridge,.. Mass., 22 miles., Charlercd In 1837, and road opened
in 1842.
Leased in pernetuity to lionsatouie Railroad
Company ut 7
percent on capital stock and cost of road ($27,273 per mile), $000,000.
Lessors pay taxes, Ac., which reduced the dividends to less than 0
per
cent, and the quarterly dividend due in October is usually omitted. Used
as the Housatonic’s main line in Massachusetts.
Results of operating “main stem and branches” for eight
Cross
9
0
7
7
J. A D.
A. A O.
J. A J.
J. A J.
J. A J
A. AO.
J. A J.
A. A 0.
J. A D.
M. A S.
3,047,700 2*2 on pf.
Oct. 15, 1880
Boston, Olllce.
9
J. A J. Boston, Boston N. Bank
400,000
July 1, 1884
7
J. A J.
do
do
799,900
1889 A'90
7
J. A D.
do
do
June 1, 1890
528,000
9
A. A 0.
do
do
870,(XX)
’HI,'82,’83,'85
5
J. A J. Boston, N. E. Trust Co. Jan.
1,500,0(X>
1, 1910
3
M. A N.
Nov. 20, 1880
800,000
Boston, Office.
1,000,000
9
J. A J.
1889
924,000
Boston, Office.
9 A 7
A. A O.
do
do
1893
1,874,500
800,000
1,000
against 1,425,020 tons in 1870; 1,140,400 tons in 1878; in 1877 this
traffic was 1,047,015 tons; for 1870, 1,003,303 tons; for 1875, 872,101
tons; for 1874, 752,250 tons; for 1873, 010,205 tons ; for 1872, 557,000
tons; and for 1871,435,207 tons. The coal trade of tin*. Main Stem
shows an aggregate of 2,225,140 tons, which includes 423,250 tons for
the company’s supply, being an increase of 050,142 tons over the unh¬
9
554,000
....
It Is shown by the report of the transportation department that the
t onnage of through merchandise east and west, lias been 1,080,307 tons,
5
9
9
T
9
6 g.
9 g.
9
8
2,009,000
1,000
formly heretofore..
] 873-74
745,000
100
niiles of track of the Main Stem and branches east of the Ohio River are
now laid with steel rails.
The increased cost of steel thus
continuously
substituted for iron rails has been charged to the repair account as uni¬
eeding year.
years:
Years.
1872-73..
1,098,000
1,090,000
100
....
i'oo
Consolidated mortgage bonds (for $2,000,000)
Bosl.lloosuc Tunnel d West.- *Jtock(for $10,000,000;
•
1,000
#
Boston Concord d: Montreal—Old preferred stock...
Com. and new pf. stock (new pf. stock Is $510,400;
•
1,000
1,000
....
1854
'9 9-'70
1879
•
....
•
....
151
29
•
•
1872
1875
•
....
Mortgage bonds 1800-70.
♦
*
•
....
38
Bonds
Equipment notes
dUcovercd In the«e Table*.
Bonds—Princi¬
INTEREST OR DIVIDENDS.
Date Size, or
pal, When Due.
Amount
of
Far
Rate per When Where Payable, and by
of
Stocks—Lust
Road. Bonds Value. Outstanding
Whom.
Cent.
Dlvideud.
Payable
Baltimore d Ohio—( Continued)—
Loan., ster., (s. f. £7,500) lien on Chic, line bonds
Loan of
any error
xvu
Milos
explanation of column headings, Ac., see notes
on first page of tables.
Plain bonds, coupon or
RONDS.
a'great favor by giving Immediate notice of
Subscriber* will confer
For
STOCKS
Boston d
Albany.— Sept. 30, 1879, owned from Boston,
Mass., to
Block increased from $19,001,100 to $20,000,000 in seven
bonds from $3,037,000 to $7,000,000. Cost of road, Ac.,
years, and
Albany, N. V., 202 miles;
numerous branches, 48 -miles; leased lines,
74 miles, total operated, 324 miles.
In
1880 bought Springfield
Ac Northeast, and leased Hpenccr RR. The. B. Ac A. was formed
(Dee.,
1807) by the consolidation of the Bust... 4: Worcester and the Western
railroads. Results of operations for five, years were as follows:
Passenger Freight (ton)
Gross
Net
Div.
Years. Miles.
Mileage.
Mileage.
Receipts.
Receipts.* p. ct.
1875 0 .322
110,044,4 10 301,024,988 $7,074,758 $2,391,704
9
1870-7
322
103,278,120 313,822,071
0,780,597
2,107,831
8
322 101,221,955 329,708,573
0,033,5.34
2,219,530
8
101,248,321 325,484.799
0,427.403
2,703,038
8
1879 80
375,452,804
7,741,118
2,492,018
8
Net receipts include Income from rents, Ac.
.
*
October 1,
1872, $24,301,752, and Heptember 30, J880, $27,514,110.
(V. 29, p.
328,4 88; V. 30, p. 000; V. .31, p. 41,152, 4 I 2 )
Boston Barre d (Jurdner.-~Hu\>t 30, 1879, owned from Worcester to
Wlnehcndon, Mass., .37 miles; leased, Monadnock RR., Wlnchortdon,
Mass., to Peterboro’, N. if., 10 miles; total operated, 53 miles. Char¬
tered in 184.7, and road completed in 1874.
1/cascd Monad nock UK.
for 99 years from October 1,1874.
Interest has been reduced to 5 pec
cent. Interest liability at 5 percent, $27,715.
(V. 29,p.40,400.)
Boston CUnt'rn Fitchburg d Nev) Bedford.—Hoot. 30, 1880,
owned from
Fitchburg, Mass.,to New Bedford, Mass., 91 miles; branches, 34 miles;
leased, Framingham A I/O well RR., 20 inileS; total ope, rated, 151 miles.
Consolidation (June 1, 1870) of the B.C. A F. and the N.B, railroads, both
of which had been consolidations of other original lines. The
Framing¬
ham A I/O well is leased for 998 years and I months from
October, 1879.
The whole property was leased (Feb. 1, 1879) to the Old
Colony Railroad
Co. for 999 years, the lessees agreeing to pay as rental
J0»a tier cent of
the gross earnings of the consolidated roads; but in no easels rental to
be less than B per cent on debt.. The rent al and other income for the
year ending Wept. .30, 1889, w as $381,597, which left, after paying all
charges, a surplus of $82,9.37, applicable .to dividends. (V. 28, p. 40,
129; V. 39, p. 221.)
->
Boston
Conec/rd d Moftlreal.-Mnroh .39, 1879, owned from
Concord,
N. H., to Wells River, X. IB, 94 miles; branches— Wells
River, N. IB, to
Oroveton Junction, 53 miles; Wing Road to ML.
Washington, 29 miles;
total operated, J 97 miles. Chartered in 1814 and road
opened in 1853.
Purchased White Mountain Railroad (53 miles) in 1872, and built
the
Ml. Washington Brandi (29 miles) in J874.
An extension of the White
Mountain Railroad from Groveton Junction to Colehrook and into
Canada is mortgaged. Fiscal year ends March .3 J.
Gross
Available
Expenses,
Years,
Miles,
Burnings.
Taxes, Ac.
Revenue.
1874-75....
190
$594,191
$523,989
$140,298
1 875 -79.,..
190
993,355
511,34.3
182,012
1879-77....
1877-78.
J 878 79
1879-80....
197
197
919,308
457,377
181,931
4 53, J 72
951,272 201,100
590,550
388,932
201,9 J 8
197
978,123
477,251
200,871
The old preferred stock ($800,000) has
always received .3 per cent
semi-annually, amounting to $18,<MM> a year. Neither the new preferred
nor the common stock has been
paid dividends. A proposal has been
...
.
..
made to scale down the two latter stocks and make them
equal to tIte
to
B :!vider<r Division.
and third bonds are
101 ; and cash and accounts, $223,738. Total
property and assets,
$
There are also $25,709 old l>onds due In 1895, amt
$1,957,313.
$
$3J,999 due In 1875. <V. 28, p. 5 77 ; V. 39, p. 599,/
Boston lloosuc Tunnel d Western.—50, 1879, owned from Mas¬
sachusetts Btate Line to Mechaniesville, X, V., 40 miles; Meehanicsvllle
to
Bennin/flon d Rutland.—December 31, 1879, owned from
Bennington, Vt., 57 miles; branch. North Bennington
to
Rutland
to
New’
York Slate Bine, 2 miles; total, 59 mile**.
Chartered as 'Western [
Vermont i.i 1815, and completed in 1851. lyeused m ] s57 to Troy A: i
Boston for 10 -. ears at $.30,000 per annum. Consolidated in Harlem
j
extension in 1870, and leased to Central Vermont In 1873, but lease!
Schenectady under eontraet. Projected line, Hoosae 'Funnel, Mass,, to
Fairhaveu, N. Y., 200 miles. In operation from 5fechanic#vlllc, N. Y.
(Rensselaer A Bara toga KK./, to North Adams, M a*s. (Troy A Grecnfteld). It has been built as a connecting Hue with New England, tr/d
the Hoosae Tunnel, for the Brie Railway and other roads.
No bonds
Issued. F, E. Arnes, President, Boston, Mass. (V. 39,
p. 191,493, 91.3;
V. 31, p. .379.)
Miles
Date
Size, or
of
Par
of
Road. Bonds Value.
of column headings, Ac., see notes
on first page of tables.
For explanation
Bonds
Bonds.
Bonds
Bonds
Boston <& Maine—Stock
Bonds, coupon and registered
Boston dc New York Air-Line—1st mortgage
Boston <& Providenccr—Stock
Bonds to purchase branches, coupon or registered
m
„
n
m
a
m
^
204
58
64
Brooklyn Elevated— 1st mort., gold (for $3,500,000)
Brooklyn
Montauk—Stock ($l,i 00.000 is pref.) ..
Southern of Long Island. 1st mortgage (S. Side)..
Mortgage on Rockaway Branch
Buff.Braa.d IHtls.—Gen. M.,(iucl. 10,000 ac. I’d)
Buffalo New York <t Erie—Stock.
•
-
-
*
1872
1875
1876
1879
...
1873-4
1880
57
1873
1879
1867
"26
.
142
140
121
12 h
67
67
California Pacific—1st mortgage, gold
2d mortgage, endorsed by Central Pacific
3d mort., guar, by C. P. ($1,000,000 are 3 p. c.)
.
367
57
55
90
144
156
139
139
139
m
m
m
....
1,000
.
.
purchased and consolidated in 1879.
100
500 Ac.
.
p.
Boston d
wTere
624
;
1876
1871
1878
319,528
....
....
1876
1879
1880
1870
1871
....
1869
1871
1875
67,598
8 nor cent np to close of 1873; 6*2 per
V. 30, p. 42; V. 31, p. 4 82, 509, 557.)
100
100 Ac.
1,000
l.COO
1,000
1,000
....
1,000
1,000
500
2
3
cent in 1873-74.
Maino—Sept. 30,1880, owned from Boston, Mass., to
Portland,
leased—Wakefield to Danvers, 10
miles; Lowell to Ballardville. 10 miles: Bradford to Newlmryport and
Danvers, 27 miles; West Amosbury to Newton, Mass., 4 miles; Dover,
N. II., to Alton Bay, N. II., 29 miles; total operated, 206 miles, less 3
miles leased. Maiii line one-third double track and all steel rail. Char¬
tered in 1839, and road completed to South Berwick in 1845 and to
Portland in 1873. From 18 13 to 1873 the Portland Saco A Portsmouth
Railroad was leased in partnership with the Eastern Railroad.
Gross
Earnings.
Expenses
A Taxes.
Net
Outside Av’il’ble Div.
Earnings. Receipts. Revenue, p.c.
$2,278,457 $1,523,966 $754,162, $92,162 $816,653 3
2,173,202
1,518,854
654,348
93,817 748,165 5
2 100,711
1,359,367
741,317
83,717
825,091 6
1,351,755
2,119,857
796,102
88,964 884,006 6
2.438,270
1,511,018 927,252
94,382 1,021,634 7^
—(V. 29, p. 535 ; V. 30, p. 15 ; V. 31, p. 556.)
Boston dc New York Air-Line.—Sent. 30,1880, owned from New HavenConn., to Willimantie, Conn., 50 miles; leased Turnerville to Colchester,
4 miles; total operated, Similes.
Formerly the New Haven Middletown A Willimantie. Road opened Aug. 13, 1873. The present company
derive their lights from purchase under foreclosure. In 1879 a pool¬
ing agreement (for 99 ye ars and 8 months from Feb. 1,1879) was marie
with the N. Y. New Ilaven A Hartford RR.. under which the B. A N. Y.
A.-L. received 6 i»ev cent of the gross earnings of all lines operated, out
of which its operating expenses are paid. By arbitration in 18*0 the
percentage was reduced to 5 per cent for live years. In 1879-80 gross
earnings were $274,177; n*;t, 148,639.
Common stock, $s03,-00;
preferred stock, $2,7 07,500. The old 7 per cent bonds will be paid off
Feb. 1,1881, at 105, and 5 per cents issned instead.
(V. 29, p. 621;
V. 30, p. 60, 599 ; V. 31, p 152, 857,381.588.)
Boston dc Providence.—Sept. 30, 1879. owned from Boston, Mass., to
Providence, R. I., 44 miles; branches, 20 miles; leitsed, Attleborough to
East Attleborough, 1
miles; total operated, 68 miles.
Chartered
In 1831, and ro.ei- opened in 1S35. The company have, valuable depot
properties in Boston, and dining 1879 negotiations were entertained for
a consolidation of tne Boston A Providence and the Boston A Albany,
mo as to utilize them by both companies.
Gross
DiviNet Trafflo
Other
Years.
Earnings.
Earnings.
Receipts.
dends.
$1,439,864
$399,633
$27,895
8
6
1,352,561
378,032
20,797
6
1,185,040
348,069
21,377
1,158,643
375,947
19,595
6^
19,395
1,304.520
355,748
8
Lease rental paid in the years consecutively was $9,219, $11,308.
$10,956, $10,917 and $11,560. Notes outstanding September, 1880,
$380,000. (V. 27, p. 565 ; V. 31, p. 534.)
Brooklyn Elevated.—In progress. Capital stock authorized, $5,000.
000 (issued $3,317,680) and C percent gold bonds,$3,500,000. Receiv¬
ers were appointed October, I860.
.(V. 29, p.328; V. 31, p. .44, 428,
452, 557.)
Brooklyn <t Mont an k—(Soul horn of L. I.)—Bush wick to Patchogne, L.I.,
52 miles; branches i<> Fichu Pond Junction, 2 miles; to Rockaway, 10
miles; to Hempstead, 5 miles; total operated, 69 miles. This was first
the South Side Railrc id of Long Island, which was foreclosed Sept. 16,
1874, and reorganized as the- Southern of Long Island. On June 3, 1879,
the property whs again sold in foreclosure of the
this company organized. The pref. stock has a
not cumulative.
It is leased to the Long Island
at 25 per cent of the net earnings of the whole L.
second mortgage, find
preference of 7 i>cr cent,
Railroad for 50 years
,
&
A
A
A
&
A
A
A
J.
J.
N.
J.
A.
N.
J.
S.
;
7
7
6 g.
7 g-
Whom.
■
do
do
do
do
year. Capital stock,
cent was paid.
1, 1881
April 1, 1892
March 1,1895
July 1, 1896
July 1, 1899-
do
do
do
do
Nov. 15, 188a
'Jan., 1893A94
Boston, at Office,
do
N. Y.,
do
Hatch A Foote,
Nov. 1, 188a
July 1, 1893
Sept. 1, 1917
Boston, at Office,
do
do
New York.
B’k
Q.—M. Buffalo, F.A M. Nat. Bk.
A D. N.Y., Continental N. Bk.
New York.
& S.
A O. N. Y., Central Trust Co.
& N.
boston. Co’s Office.
& O. New York or Loudon.
„
J. A J. N.Y.,Eugene Kelly A Co.
J. A J. N. Y., Nat’l Park Bank.
J. A J. N. Y., Cent. Pacific RR.
$2,286,000.
Stocks—Last
Dividend.
Jan.
Boston, at Office,
J. A ’ J. New York, Erie Office;
N. Y., Erie Railway,
J. & D.
do
do
J. A I>.
J. & J. N. Y„ Farm. L. A T. Co.
J.
M.
A.
M.
A.
3 A 6
pal, When Due.
Mar. 1, 1887
1, 1896
Jan.
Dec.
Dec.
1, 1880
1, 1916
July 1, 1896
1908
June
1. 1906
Sept. 1,
Oct. 1,
May 1,
Oct. 2,
1909
1920
1895
1901
Jan. 1, 1889
1891
July, 1905
In March, 1880, a dividend of 1 per
Buffalo Next) York dc Eric.—October 1, 1879, owned from Buffalo, N.Y.,
to Corning, N. Y., 140 miles. A third rail for standard gauge rolling
stock lias been laid down. Leased in 1863 to the New York & Eric for
490 years, and now operated by the New York Lake Erie A Western
Co. Rental, $238,100—viz., 6 per cent on stock and bonds and $6,000
for organization expense.
Dividends and interest paid directly by tho
lessees. Capital stock, $950,000/and funded debt, $2,380,000. Total,,
representing cost of road, $3,330,000.
Buffalo New York d: Philadelphia.—Sept. 30, 1879, owned from Buffalo,
N. Y., to Emporium, Pa., 121 miles. Consolidation (1871) of the BuffaloA Allegheny Valley, anil the Buffalo A Washington, and road completed
in 1872. At Emporium connects with Philadelphia A Erie. Gross earn¬
ings in 1878-9, $954,682, and net earnings, $380,355. Capital stock,
$2,349,650. Cost of road and equipment, $6,734,454. (V. 28, p. 252;
V. 30, p. 16.)
Buffalo dc Southwestern.—Sept. 30, 1879, owned from Buffalo to James¬
town, N. Y„ 67 miles. Formerly the Buffalo A Jamestown; reorganized
in 1877 after foreclosure. In July, 1880, leased to N.Y. Lake Erie A
West, for 99 years—at 35 per cent of gross earnings, but interest on bonds
guaranteed. Gross earnings in 1878-9, $351,829. (V. 31, p. 122.) Burlington Cedar Rapids d* Northern.—June 30, 1879, owned from
Burlington, Iowa, to Albert Lea, Minn, (including 11 miles leased), 252
miles; branches-Linn, la., to Postville, la., 91 miles; Muscatine, la ,toRiverside, la., 31 miles; Venton, la., to Hilland, Iu., 48 miles; Elmira,
la.,’to Iowa City, 10 miles; total operated, 435 miles. In 1880 also leasesand owns stock of Cedar Rapids Iowa Falls A N.W., 55 miles, to Clarion.
as the Burlington Cedar Rapids A Minnesota June 30, 1868,
and main line opened to Plymouth 219 miles, and branches 149 miles, toend of September, 1873.
Default Nov. 1, 1873. Property sold under
•foreclosure June 22, 1876, and given up to the purchasers July 1, I87(L
Iu 1879 the whole property was transferred to the Chicago Rock Island
A Pacific RR. Co., under a perpetual lease, out this leAsc v.:is not rati¬
fied by the stockholders in February, 1880. Bonds of the Cedar Rapid#
Iowa Falls A Northwestern road are endorsed (on the bonds). Gross
Organized
earnings year ending June 30, 1880, $1,843,472, against $1,387,962:
In 1879; net $678,608, against $437,304.
Interest liability, $335,513,
fill paid.
Since the close of 1879 the company have guaranteed
$156,000 of bonds issued for tho construction of the Iowa City A West¬
ern
Railway.
Louis bonds.
p.
They also guarantee $150,000 of Minneapolis A St*
(V. 29, p. 224, 250, 432, 562; V. 30, p. 17,221; V. 31,
122, 228.)
Burlington <& Southwestern.—June 30, 1879. owned from Viclc, la., to
La Clede, Mo., 142 miles; leased—Viole to Burlington, 25 miles ; Bloom¬
field to Moulton, 14 miles; total operated. 181 miles. There is alsoa
mortgage of $1,600,000 7 per cent goid bonds, due 1892, on
tiie Linheus branch, 53 miles,
and a second mortgage of $88,000
8 per cents on the main line.
Gross earnings, 1878-79, $206,704;
expenses and taxes, $199,187; net earnings, $7,517. Capital stock,
$1,793,700; funded debt, $3,488,000; receiver’s 7 tier cent certificate*
(for extension 22 miles in Missouri), $200,000, and a large amount of
n«»atiiig debt. Default mode Nov. 1, 1873, and property still in hands of
Receiver, awaiting final decree of foreclosure. (V. 29, p. 300; V. 31, p.
557, 606.)
Cairo <£ St. Louis.—Dec. 31, 1879, owned from Cairo, HI., to East 8t.
Louis, I1L (3 ft. gauge), 147 miles. Opened through, March 1,1875.
Default made April 1, 1874, and Receiver appointed Dec. 6, 1877*
Deficit in 1878, $9,914. Surplus in 1879, after deducting deficit of
previous year, $4,373. Capital stock, $4,565,000.
Large amounts of
county and town subscriptions remain unpaid, and suits, so far, hav#
resulted adversely to company. (V. 28, p. 451; V. 29, p. 17, 40; V. 30*
p. 464.)
Cairo & Vincennes.—Anno 30,1880, owned from Cairo, HI., to Vincen¬
nes, Ind., 157 miles.
Chartered March 6, 1867, and completed Dee.
16, 1872. Defaulted in 1873. Sold Jan. 5, 1880, and bought in for
account of bondholders for $2,000,000, subject to Receivers’ certificate#
and claims for labor, Ac. The capital stock was $2,624,300. The reor¬
ganization has been made with stock as #bove. (V. 29, p. 40; V. 30, p.
43, 341; V. 31, p. 68, 179, 558.)
California Pacific. -Doc. 31, 1879, owned from South Vallejo, Cal., to
Sacramento, Cal., 61 miles; branches—Napa Junction to Calistoga, 35
miles; Davisville to Knight’s Lauding, 19 miles; total operated, 115
miles. Consolidation (December 23, 1869) of California Pacific and
C. P. Extension companies. These lines were built by a construction
company, and turned over to the existing company January 19, 1870.
Leased for 29 years, from July 1, 1876, to Central Pacific. Minimum
rental (coin), $550,000 per annum, and in addition three-fourths of net
earnings iu excess of that amount. General account (Jan. 1, 1880)—
I, KR. system, includ¬ Capital stock, $12,000,000; funded debt, $6,850,000; bills payable,
$1,272,643; and other liabilities, accounts, Ac., $258,054; total liabili¬
(v. 30. p. 322, 600, 674.)
Buffalo Bradford <t: Pit f burg—Sept. 30, 1879, owned from Carrollton,
N. Y. to Gilesville, Pa 26 mile*. Completed in 1866, find leased to New
York Lake Eric A Western for 499 years.
In Jan.. 1875, it was consoli¬
dated with other roa is under the title of Pennsylvania A Erie Coal A
Railway Company. No further action, however, has been taken to carry
put the project. Kenlui, 7 per cent on outstanding bonds, $10,600 a
ing its leased lines.
943,800
1,500,000
5,50o,0O0
6,500,000
456,000
825,000
1,800,000
2,500,000
5,500,000
2,250,000
1,600,000
3,000,000
....
91,718
392,580
2,380,000
3,000,000
546.500
500 Ac.
500 Ac.
....
$93,309
$391,962
60,000
580,000
950,000
1,000
Me., 115 miles; branches, 11 miles;
Years.
Bonds—Princi¬
Payable, and by
M.AS. N. Y., Gallatin Nat.
750,000
100
A joint business was formerly
1,081,066
1,203,000
2,000,000
1,000
done between the Boston A Lowell and the Nashua A Lowell, but from
December, 187S, they were under separate managements until the B. A
Low leased the N. A L. in November, 1880, for 100 years.
Gross
' Net
; .
Payments
Years.
Receipts.
Receipts.
Div.,p.c.
Rentals.
$1,181,724
500,000
.
& J.
J.
4,000,000
.
Payable
J.
M.
J.
F.
M.
J.
M.
500,000
100
branch, 12 miles; total operated, 87 miles. Chartered in 1830, and line
betwrcen Boston A Lowell opened in 1835. The Low ell A Lawrence and
Salem A Lowell Railroads, operated tor some years under lease, w ere
—(V. 28,
discovered In tbese Tables*
A. & O.
M. A S.
7,000,000
3,500,000
100
500 Ac.
Boston <& iAncell—Sept 30, 1879, owned from Boston to Lowell (double
and steel), 27 miles; branches—Salem A Lowell, 17 miles; Lowell A
Lawrence, 12 miles; others, 19 miles; leased, Middlesex Central and
Dividends
[Vol. XXXL
When | Where
J.
500,000
750,000
620,000
.
.
m
Rate per
Cent.
$3,250,000
990.500
1,000
.
....
1st mortgage
j...
Iowa City A Western, 1st mortgage, gold, guar..
Cedar Rap. I. Falls A N. \V., 1st mort., gold, guar.'
Burl.
Southwest.—1st mort., main line, cp. or reg. i
Cairo dc St. Louis—1st mortgage
Cairo <k Vincennes—Stock £1/700,000
Outstanding
....
....
....
New mortgage
Buffalo N. i. <6 Philadelphia— 1st mort., gold
2d mortgage (for $1,000,000)
Buffalo & Southwestern— Stock
Mortgage bonds
Burlington C. Rapids d Northern—Stock
m
Amount
$300
82
Boston <& Lowell—Stock
1,198.962
1.399,316
BONDS.
INTEREST OR DIVIDENDS.
DESCRIPTION.
11887765--09906.
AND
toy giving Immediate notice of any error
Subscribers will confer a great favor
1875-609
STOCKS
RAILROAD
XY111
ties, $20,380,6-8.
Extension bonds of $3,500,000 and incomes of
$1,000,000 were in default, and the new bonds of 1875, guaranteed by
Central Pacific, were issued in place thereof.- Interest charges were
thus largely reduced bv
Third
lower-rate bonds.
the lessees.
exchange of old bonds for the present
mortgage (1875) bond# are guaranteed by
RAILROAD STOCKS AND BONDS*
decembbr, 1880.J
Snbserlben will confer
a
great flavor by giving Immediate notice of any error discovered In these Tables.
DESCRIPTION.
For
explanation of column headings, Ac., see notes
on first page of tables.
Camden A Atlantic—Stock ($838,150 of it
Miles
of
Road.
07
00
.....
31
100
291
242
242
92
Canada Southern—Stock
New mort., interest guar., (for $14,000,000)
Carolina Central— 1stmortgage, gold, coupon
lucome bonds, coupon
Catawissa—Common stock
New preferred stock
Old preferred stock
1st mortgage bonds
Chattel mortgage bonds
New mortgage
Rate per
When
Where Payable, and by
Cent.
Payable
Whom.
Stocks—hunt
Dividend.
Camden, Co.’s Office.
April 19, 1880
1,000
1,000
1,000
....
•
•
•
•
....
100
35
14
61
274
1872
....
1804
1860
....
....
70
58
140
1st mortgage
Central R. R. A Bank, Ga.—Stock
General mort. “tripartite” bds ($5,000,000) coup.
Central Iowa— 1st mortgage
Income bonds, “debt certificates”
708
020
180
Central of New Jersey—Stock
350
74
....
....
07
$1,215,550 3*2 on pf.
$50
1,000
1878
1873
1874
65
Mortgage bonds
Bonds (convertible Nov., 1875 to 1877)
Consolidated mortgage (for $25,000,000)
Income bonds, reg., (not cumulative)
Outstanding
500 Ac.
....
Cedar Falls A Minn.—Bonds on 1st div., sink. fund.
Bonds on 2d division, sinking fund
Cedar Rapids J MissouH River—Common stock —
Preferred stock, 7 per cent
1st mortgage
1st mortgage
:
Amount
1853
1854
1807
100
Sustfuehanna—StocK
INTEREST OR DIVIDENDS.
Date
Size, or
of
Par
Bonds Value.
J.
pref.)—
1st mortgage (extended 20 years in 1873)
2d mortgage, extended in 1879
Camden A Burlington Co.—1st mortgage
Cayuga A
XIX
....
1861
1803
1860
....
1872
1879
1880
....
•
.
.
50
50
50
1,000
1,000
1,000
187-0
100
500 Ac.
500 Ac.
100
100
500 Ac.
500 Ac.
500 Ac.
100
1,000
500 Ac.
500 Ac.
100
1869
1,000
1872
1874
1878
1,000
1,000
100 Ac.
Camdend- Atlantic.—Dae. 31,1879, owned from Camden, N.J., to Atlan*
490,000
497,000
350,000
15,000,000
13,497,311
3,000,000
3,000,000
1,159,500
1,000,000
2,200,000
230,500
209,850
1,300,000
589,110
198,000
1,334,000
6,850,400
709,000
700,000
582,000
2,332,000
7,500,000
3,750,000
3,700,000
029,000
18,503,200
5,000,000
4,400,000
15.000,000
2,150,000
1874350.
7 g0
6
3
6 g-
Jan.. 1893
J. A J. Phila.. Farm. AM. B’k.
do
do
A. A O.
F. A A. Phila., Penn. RR. Co.
J. A J. N. Y.,
Trust Co.
J. A J. N. Y. Office, 4 Broad st.
A. A O.
do
"
do
7
3*a
3*2
7
.
.
7
4*2
7
7
1
3*2
7
7
7
3
7
7
7
2*2
7
7
7
7
Oct., 1, 1904
1897
Union
M.
M.
F.
F.
F.
J.
A.
A
A
A
A
A
A
A
J. A
Jan.
1, 1908
July 1, 1923
April 1, 1914
N.
Nov. 18,
Philadelphia.
Nov. 18,
N.
do
A. Phila., Phila.A Read.Co. Feb. 1,
do
A.
1888 to
do
do
Feb. 1,
A.
do
J. New York, 44 South st. July 1,
O. N.Y.,J. S. Kennedy A Co April 30,
do
Jan. 2,
J.
do
Q.—F.
F. A A.
F. A A. N.
F. A A.
M. A N.
J. A D.
Boston, Treasurer.
do
do
Y., Nat’l Park Bank.
do
do
do
do
Savannah, Ga.
J. A J. N.Y.,Nat.City Bk.ASav.
J. A J.
New York, Office.
do
A. A 0.
do
New York, at office.
Q.-J.
do
F. A A.
do
M. A N.
do
do
do
do
Q.-J.
M. A N.
do
do
1880
1880
1882
’89
1900
1880
1884
1907
Nov. 2, 1880
Aug. 2, 1880
Aug. 1, 1891
Aug. l, 1894
May, 1916
Dec., 1880
Jan.
1, 1893
July 15, 1899
3
uios.
notice.
April 10, 1870
1890
Nov., 1902
July 1. 1899
May 1, 1908
tingent of 35 per cent of gross earnings from $3,500 to $7,500 j>er mile
City, N. J., 00 miles; branch, Egg Harbor City to May's Landing, 7 in.;
total, 07 in ilea. Earning** and expenses for three yearn pant have been :
Years.
Earnings.
Expenses.
Protit.
1877
$477,463
$300,449
$172,042
and of 30 per cent of any excess over $7,500 per mile. Lease transferred
to Illinois Central, Octolier 1, 1807.
Capital stock, $1,587,000, and
funded debt, $1,587,000. Total (cost of rood), $3,174,000. A sinking
fund of 1 per cent per annum is provided. (V. 30, p. 90.)
300,001
277,848
121,213
495,472
203,345
202,127
stock in entitled to 7 per cent if earned, and to an high a
Cedar Rapids A Mo.
River.—July 1, 1880, owned from Cedar Rapids,
la., to Mo. River (opp.Omaha), 272 miles; branch, Clinton, la., to Lyons,
la., 2 miles; total operated, 274 miles, of which 214 miles steel rails.
Chartered in 1855 and completed in 1800. Leased to and operated by
Chic. A N’west. Rental, $700 of the first $1,500 of gross earnings per
mile; 3.31;$ per cent of next $3,000 per mile, and 20 percent of any
excess over $1,500 per mile.
Gross earnings year ending Mcli. 31, 1880,
$2,742,742; gross earnings per mile, $10,010. Quarterly dividends, each
of 1 per cent, have been paid for several years on common stock, und
semi-annual dividends, each of 3*2 per cent, on preferred stock.
Central of Georgia (A Bank).—Aug. 31, 1879, owned from Savannah,
Ga., to Atlanta, Ga.. 294*2 miles; branch, Gordon to Milicdgeviile, 17
miles; leased - Augusta A Savanuah, 53 miles; Eutonton Br. Railroad,
22 miles; Southwestern Railroad und branches, 310 miles; Upson
County Railroad. 17 miles: total operated, 714 miles.
Consoli¬
dation (December 1, 1872) of the Central and the Macon A Western.
The principal leased line is the Southwestern and brunches (310*2 miles).
The company owns large interest in connecting lines and in the Ocean
Steamship Line of Savannah.
Traffic Earnings.
-Payments from Net Earnings—*
Leases.
Years.
Gross.
Net.
Interest.
DivicTds.
1875-0
$103,580
$983,541
$285,444
$2,001,542
$
1870-7
439,500
255,412
2,409,092
820,925
187,500
430,031
2,075,318
270,178
1,01)3,907
375,000
430,052
2,781.054
272,428
1,181,000
375,000
1870-80
430,000
207.732
3,144.102
1,508,052
This company and the Georgia Railroad Company are Joint owners of
the Western Railroad of Alabama, purchased at foreclosure sale in
April, 1875. The “tri-part Ite” bonds are issued Jointly by this company,
the Macon A Western and the Southwestern.
(V. 27, p. 381 ; V. 29, p.
655; V. 30, p. 143; V. 31, p. 381, 404.)
tie,
L878
1870
The preferred
as paid to common stock if more than 7.
Camden A Burlington County.—January 1,
N. J., to Pemberton, N. J., 23 miles; branch,
(V. 30, p. 5 I 8 )
1880, owned from Camden,
Burlington, N. J., to Mount
Holly, 7 miles; total, 30 miles. Leased to Camden A Amboy Railroad
Oo., and now oi>erated by the Pennsylvania Railroad Company, lessees
at United Railroad A Canal Company’s lines.
Lease rental, $44,415,
being 0 per cent on stock and bonds, and $500 for organization expenses.
Capital stock $381,025 and funded debt $350,000; total, being cost
of property, $731,025. Dividends in January and July.
rate
Canada Southern.—December 31,1870, owned from Victoria, Out., to
Ainherstburg, Out., 229*2 miles; branch, 8t. Thomas, Out., to Courtright, Out., 02*2 miles; total (original line, all steel), 202 miles;
and miles absorbed on reorganization—Erie A Niagara, 28*2; Sarnia
Chatham A Erie, 7; Canada Southern Bridge A Ferry, 3 ; Toledo Canada
•Southern A Detroit, 55, and Michigan Midland A Canada, 15; total of
all lines, original and acquired, 400 miles.
Besides these the Chicago
A Canada Southern, 07 miles, was operated up to November 1,1870.
The average, operative length of road for 1870 was therefore 450 miles.
The Canada Southern was chartered February 28, 1808, and the whole
road opened in November, 1873. Default was made soon after, and a
reorganization forming the existing companies was completed in 1878.
Interest on the new bonds issued by the company is guaranteed by tin;
New York Central Railroad Company for 20years; the principal is not
guaranteed. During the year 1870 great improvements were made on
the lines a new ferry-boat purchased, and 31 engines and 1,100 freight
oars
added to the equipment.
■Gross
earnings
Expenses
Net earnings
Interest accrued
1870.
Increase.
.$2,480,873
2,070,258
1878.
$2,995,300
2,448,091
$514,403
377,833
$410,015
$547,275
$130,000
353,428
391,452
38,024
Surplus
$57,187
$155,823
$08,030
Charged to expenses in 1879 was $235,332 for renewals. The last past
year was the seventh since the rood was built, and no extensive renewals
bad previously been made. Capital stock, $15,000,000; funded debt,
$13,741,420; coupons payable, $104,704; bills and accounts, $1,153,548, and income account, $280,507; total liabilities, $30,370,209.
Per Contra—Construction and equipment, $23,777,145; stocks and
bonds of absorbed lines, Ac., $1,010,220; material and
supplies,
$200,824; bills aiid accounts, $021,588; traffic balances, $348,001, and
cosh, $137,484;
total property
and assets, $30,370,200.
The total
amount of new bonds authorized is $14,000,000, of which the company,
after providing for all claims, held a reserve of $191,583. The bonds
carry interest at 3 ner cent till 1881 and 5 percent for the other 27
years. A bondholder’s suit on old lionds was decided in his favor. (V.
30, p. 110, 141,000; V. 31, p. 258.)
Carolina Central.—March 31, 1880, owned from Wilmington, N. C., to
•Shelby, N. C., 242 miles. Formerly Wiliu. Char. A Rutherford, chartered
in 1855. Succeeded by existing
company after foreclosure May 3, 1873.
Opened to Shelby in Sept., 1875. Defaulted, and Receiver placed in pos¬
session April 5, 1870. Sold in foreclosure May 31, 1880, for $1,200,000.
Earnings in 1878-79, $420,705; expenses, $250,800; profits, $103,050.
In 1879-80, gross, $100,519; net, $189,209.
The funded debt was
$0,000,000 ; total (cost of property), $10,202,000. Wilmington Bridge
bonds, $200,000, at 7 per cent, guaranteed by company and acknowl¬
edged by receiver. (V. 30, p. 384, GOO, 622 ; V, 31, p. 08.)
Catawissa.—Dec. 31, 1879, owned from Tamanend, Pa., to Williams¬
port, Pa., 93 miles; branch, Summit Station to Silver Brook, 4 miles;
total operated, 97 miles. Chartered os Little Schuylkill A Susquehanna
m
1831; name changed to Catawissa Williamsport A Erie in 184 0.
Rood opened Dec. 18,1851. Reorganized under present name in 1850.
Leased from Nov. 1, 1872, for 009 years to Philadelphia & Reading.
Rental, 30 per cent of gross earnings and $8,000 a year for company
expenses. Funded debt is also assumed by lessees. Seven per cent is
guaranteed on the i*referred stocks; common stock has the remainder,
if any.
Cayuga & Susauehanna.—Dec. 31,1879, owned from Owego, N. Y., to
Cayuga Lake, N. Y., 35 miles. Chartered as Ithaca A Owego in 1828
and
opened in 1834. Reorganized as Cayuga A Susq, in April, 1873.
Leased in perpetuity to Del. Luck 6c Western,'Jan. 1, 1855, at a rental of
$54,000 a year. Dividends on capital, 0 per cent per annum. Capital
stock (cost of road to present owners), $580,110. A considerable deficit
to the lessees occurs from year to year.
Cedar Falls A Minn.—Dee. 31,1870, owned from Waterloo, Ill., to Minn.
State Line, 70 miles. Completed in 1870. Leased to Dub. A Sioux C. for 40
years from Jam 1, 1807, at $L,500 per mile as a minimum and a con¬
....
Central Iowa.—June 30,1879. owned from Albia, la., to Northwood, To.
189 miles; Muchakiiiock Branch, 2 miles; total operated, 191 miles.
Chartered as Central RR. of Iowa and opened in 1871.
Defaulted and
placed in hands of a Receiver in 1873. Reorganized under present title,
June 18, 1879, after foreclosure sale under first mortgage July 18, 1877
Gross earnings in 1878-79, $715,503; net earnings, $100,545. In ’79-80,
gross earnings, $889,408; net, $452,901.
The new stock issued fc»
$2,100,000 common; preferred stock, 1st, $907,000; and 2d,$1,107,800,
given for the old 2d mortgage bonds. .In February, 1880, the income
)>onds were issued to first mortgage bondholders in payment of four
years’ net earnings, and are payable by the company on three months’
notice.
(V 28, p. 17, 145, 299. 378, 453, 477, 553, 577; V. 30, p. 108.
191,221, 248, 433. 518, 43J; V. 31, p. 20, 115, 250.)
Central of New Jersey.—Dec. 31, 1870, owned from Jersey City, N. J.,
to Phillipsburg, N. J., 73 miles; branches. 57 miles; leased—in N. J., 50,
and in Penn.,''215; total operated, 305 miles. The principal leased Hues
in Pennsylvania are the Lehigh AHusouehanna and the Lehigh A Lock.,
with their branches, Ac. The main line from Elizabeth to Phillipsburg
was opened in July, 1852, and extended' from Elizabeth to Jersey City
in 1804. The Long Branch division was opened in September, 1875.
The lease of the Lackawanna A Susquehana Railroad is dated March 31,
1871, and is virtually a consolidation agreement, the lessees having pur¬
chased the rolling stock. In February, 1877, the property was placed in
the hands of a receiver, and on April 1,1877, default was math? on con¬
solidated mortgage interest. Reorganization followed [See scheme, V.
20, p. 215), and hits been a success. Of the $11,500,000 Lehigh A
Wilkesbarrc Coal bonds, $0,110,000 are held by Central of New Jersey
and are deferred, having no claim for interest till ail other bonds are
satisfied. No satisfactory report for 1870 has been issued
The Delaware A Bound Brook Railroad opened May 1, 1870, con
nects this road with the North Pennsylvania Railroad, and forms a
route between New York City and Philadelphia.
It was leased in 1879
to Philadelphia A Reading RR. The American Dock A Improvement
Company, which is virtually owned by the railroad company, issued
a mortgage in 1877 to secure its bonds.
The operations of the New
Jersey Central only, exclusive of leased lines, showed gross earnings of
$4,317,218 arid net earnings of $1,371,580 in 1879, against $3,641,626
gross and $1,315,374 net in 1878. Gross revenue on all lines has been
as
follows:
Years.
Gross
Earnings.
$8,881,306
8,009,276
7,411,037
0,083,173
5,753,413
5,580,520
0,730,080
Net
Earnings.
$4,005,782
4,408,075
3,282,010
3,188,400
2,484,840
2,302,770
2,035,580
/
-Paid from Net Earnings
*
Leases.
Interest.
Dividends.
$1,150,304
1,128,434
1,050,549
983,113 700,345
099,134
$808,059
807,400
058,243
075,609
563,114
734,500
$1,000,000
2,000,000
2,013,125
515,000
—(V.27, p. 051; Y. 28, p. 120, 223, 476, 578; Y. 29, p. 197, 657; V. 30,
p.
272, 408, 506J
>
Subscribers will confer a great
AND BOI^DS.
STOCKS
RAILROAD
XX
explanation of column headings, &c., see notes
on first page of tables.
Miles Date
of
of
Road. Bonds
Size, or
1867
$500&c.
Central of New Jersey—(Continued)—
Newark & New York, 1st mortgage
7
Lehigh & Wilkesbarre Coal Co., prior liens
do
do
Consol mort
L. & W. B. Coal Co., inc’me bds, rg. (not cum’lat’e)
Am. Dock & Imp.Co. bonds, guar. Ceut.of N. J—
Adjustment mortgage
Central Ohio—Common stock
Preferred stock
mortgage bonds
1st
Central Pacific—Stock
1st mort., gold, (2 sinking funds, $50,000 each)..
California State aid, gold (s. fund, $50,000)
Istm.S. Joaq’n Val. Br., gld (s.f. $50,000)
U. 8. Loan, (2d lien on certain terms)
Western Pacific, 1st mort., gold, (s. f.
do
Government lien
-
$25,000)...
Cal. & Oregon, 1st M., gold, guar., (s. f. $100,000)
C. P., mortg. on C. & O. Br. (s. f. $100,000)
San I^ran. 0. & A., 1st M. (s. f. $100,000)
m
742
2,500,000
54,275,500
25,883,000
1,000
1,000
1,000
195
23
21
....
434
434
.
,,
50*0*
87 84 %-
81%
80%
m
m
March
1,000
1873
$846,512; net earn¬
80
72
$1,089,166
72
63
65
69
-
June
73
July
74%781476 -
August
September
-
1,590,889
1,393,852
1,533,702
1,726,667
1,769,477
1,773,089
1,537,493
73%
71%
79 %- 72
86 %- 7834
October
November
December
1875..
1,293
1876.. 1,425
1877.. 1,783
1878.. 1,941
1879.. 2,178
$12,863,953
13,611,631
15,165,082
16,996,216
16,471,144
17,530,858
17,153,163
$7,894,681
8,342,899
9,177,882
9,136,005
8,696,726
8,750,546
6,945,300
$4,969,272
5,268,132
6,487,200
7,857,211
7,774,418
8,780,312
10,207,862
Leased lines rentals in 1879 are
1878 they were included for six
$1,200,614
1,038,000
1,250,000
1,374,000
1,731,000
1,752,000
1,760,000
1,885,000
1,957,000
2,145,000
2,154,000
1,056,691
1,280,272
1,406,600
1,579,591
1,443,088
1,458,833
1,556,457
1,649,429
1,809,022
1,488,142
1,335,870
1,432,918
Earnings and dividends for several years have been as
Ave.
Gross
Net
Operating
Years. Miles.
Accounts.
Earnings.
Earnings.
-.
1873.. 1,221
1874.. 1,216
1880.
follows
Dividend
to Stock.
$1,628,265
2,713,775
5,427,550
4,342,040
4,342,040
(3)
(5)
(10)
(8)
(8)
included in operating expenses, but in
months only.
31, 1879.
Capital stock
and appur¬
$135,021,029
tenances
Rolling stock
Real estate & build’gs
Materials and fuel
Stocks and bonds
Bills receivable
...
....
Accounts
Cash
on
hand
Sinking funds
Other property
assets
and
8,030,468
2,549,297
2,226,428
982,184
1,021,363
5,423,693
540,966
$54,275,500
57,030,000
Funded debt
Bills
4,212,960
payable
Other liabilities
Current accounts
Profit and loss
United States subsidy
bonds
1,131,605
1,465,455
15,352,538
27,855,680
$161,353,739
4,068,662
1,489,644
Acres sold.
31, 1872.... 122,765
1873....
1874....
58,733
63,846
29,254
Total am’t.
$484,227
410,314
1875....
1876....
1877....
36.503
388,824
163,725
275,400
92,647
1,203,870
1878....
1879....
78,100
43,258
643,776
201,716
—(V. 28. p. 00,121, 477, 623; V. 29, p.95, 405,
p. 248, 514; V. 31, p 151, 428- . 35, 558, 652.)
New
& J.
Av. per acre.
$3 94%
7
6
5
7
12
8
5
00
09
60
54
99%
242378
22%
434, 510. 563 ; V. 30,
1887
N. Y.—Cent. RR. of N. J.
do
do
do
do
do
do
N.
Q.-M.
&
&
&
&
&
N.
J.
g.
May 1, 1903
Dec., 1880
do
do
Dec., 1880
do
do
Sept., 1890
N. Y. & San Francisco. Aug. 15, 1880
1895 to ’98
N. Y., Fisk & Hatch.
Sacram’o State Treas.
July 1, 1884
Oot. 1, 1900
N. Y., Fisk & Hatch.
1895 to ’98
U. S. Treasury.
N. Y„ Fisk & Hatch.
July 1, 1899
A. Sc O.
J. & J.
J. & J.
A. Sc O.
J. & J.
J. & J.
U. S. Treasury.
& J. N. Y., Fisk & Hatch.
& J. New York & London.
& J. N. Y., Cent. Pac. Office.
....
g.
g.
J.
J.
J.
g.
A.
g.
g.
g.
1%
6
3%
3%
6 g.
A.
J.
J.
A.
M.
J.
J.
J.
J.
M.
M.
J.
1899
Jan. 1, 1888
Jan. 1, 1892
July 1, 1890
Oct. 1, 1890
May 1, 1888
& J. N. Y., Nat. Park Bank. Jau. 1, 1895
do
do
Jan. 1, 1910
<fc O.
A. & O.
M. & N.
J.
1900
May 1, 1888
June 1,
Balt., at B. & 0. office.
D.
D.
M,& 8.
g.
g.
g.
Stocks— Last
Dividend.
York, at office.
N. Y.,
Fisk & Hatch.
& 0. Philadelphia, Penn R.R. Oct. 1, 1901
<fcD. N.Y.,Del.& Hud.Cau.Co. Dec. 15, 1899
N. Y., Fisk & Hatch.
& J.
July 1, 1898
do
do
& O.
July 1, 1908
do
do
& N.
July 1, 1908
do
do
& J.
July 1, 1918
1884
Sc J. N. Y., Company’s Office.
Boston.
July 28, 1880
& J.
do
& J.
July 1,’80&’96
& S. N.Y.,Jesup, Paton & Co. Sept. 4, 1880
do
do
Sept. 4, 1880
& S.
& J. Lond’n,J.8.Morgan&Co. July 1, 1903
Charlotte Columbia & Augusta.— Sept.
30,1879, owned from Charlotte,
Augusta, Ga., 195 miles.. Consolidation (July 9,1869) of the
Charlotte Sc South Carolina and the Columbia <fc Augusta, tbe first
opened in 1852 and tbe latter in 1867. The road has been under the
control and management of tbe Richmond & Danv. since 1878. Gross
earnings in 1878-9, $478,491; net, deducting taxes, $232,669, against
N. C., to
$152,228 in 1877-8.
Interest paid, $192,142. There are, in addition
above bonds, $189,500 of old Columbia Sc Augusta bonds yet
outstanding, due in 1890. Stock issued, $2,480,000. (V. 27, p. 280; V.
28, p. 96; V. 30, p. 271 i)
to the
Chartiers:—Dec. 31, 1879, owned from Mansfield, Pa., to Washington,
Pa., 23 miles. Chartered as C. Valley in 1853 and opened in 1856.
Sold under foreclosure, and reorganized in 1871. Leased for 99 years
from January 1, 1872, to the Pittsburg Cincinnati & St. Louis; the
rental is net earnings. Gross earnings in 1879, $84,660; net income,
$24,749. Interest, $35,000. Capital stock, $648,302, and funded debt,
$500,000; total liabilities, $1,148,302.
(V. 28, p. 377; V. 30, p. 382.)
Cherry Talley Sharon
Albany— Sept. 30, 1879, owned from
Cobleskill, N. Y., to Cherry Valley, N. Y., 21 miles. Chartered in
1869 and opened in 1870.
Leased on completion to Albany <fc
Susquehanna. Sold to Delaware Sc Hudson Canal Company for $320,119.
Rental $21,000 a year.
Capital stock, $387,650, and funded debt,
$300,000.
Chesapeake <£■ Ohio—Sept, 30, 1879,
owned from Richmond, Va., to
Huntington, W. Va., 428 miles; branches 9 miles; total operated, 437
miles. Consolidation of Virginia Central and Covington Sc Ohio, and
onened through March 1,1873. Extension to deep water (seven miles)
completed in Dec., 1873. Defaulted in 1873 and (Oct.9, 1875) Receiver
appointed. Sold under foreclosure April 2, 1878, for $2,750,000, and
reorganized under present auspices.
The annual report for 1878-9 was
published iu V. 30, p. 141, and the President, Mr. C. P. Huntington, said
in his report : “The plan for the improvement of this property embraces
the idea of a connection by rail to a good harbor at tbe most available
point on tbe waters of Chesapeake Bay, and at tbe west end a connection
with tbe Elizabeth Lexington & Big Sandy RR. to Louisville, &c.
The vital importance of western connections, and of ocean terminus on
the Lower Chesapeake Bay, I have before referred to. Surveys have
been ordered for such a line between Gordonsville and the lower
Potomac, between Hanover Junction and tbe Bay of Piankatank, and
between Richmond and Yorktown on the lower James and York rivers,
with a view of determining the most practicable point for trans-shipment
to large vessels, and for tbe accommodation of through freights destined
to the cities along the seaboard.” Earnings and expenses were a«
follows:
Operating
Expenses.
Gross
Earnings.
i
$1,460,190
1,459,189
1,599,512
1,702,533
1,936,360
1,891,542
2,514,245
$1,214,340
'
1,112,321
1,245,036
1,363,225
1,594,739
1,507,332
1,944,957
Net
Earnings.
$245,85<L
346,86f\
356,476
339,308
341,621
384,209
569,288
reorganization the stocks are as follows; Capital stock,
$15,906,138; preferred stock—first, $6,347,803; second,
$7,646,315. The “B” bonds take interest in first preferred stock till
November, 1881; in 1881-82 3 per cent cash and 3 per cent stock; in
1882-83 4 per cent cash and 2 p. et. in stock, and thereafter ail cash. The
second mortgage currency bonds till July, 1884, take interest in second
preferred stock, then for two years partly in that stock and partly cash,
Under the
common,
and afterwards all cash, if the earnings are
$161,353,739
Interest on bonds, $3,667,885. The annual report was given in the
Chronicle, V. 31, p. 151. The land department,makes the following
exhibit: Total grant from the United States (12,800 acres per mile)',
7,997,600 acres; grant to the California <fc Oregon Railroad, 3,724,800
acres; total, 11,722,400 acres. The ;ands have been sold mostly on five
years' time, with a cash payment oi 20 per cent at time of purchase.
In Januar*, 1881, the trustees called for $400,000 bords. There had
been sold
rior to the execution of the land mortgage, October 1, 1870,
127,637 s -. res for $295,065, and since that date as follows :
Years.
Oct. 1,1870, to Dec.
2,425,400
4.379,850
Years.
GENERAL BALANCE DEC.
Railroad
1873-95046
806,000
10,065,300
Whom.
Payable
M,
J.
M.
J.
J.
1%
3
6
3
6
7
6
6
6
6
6
6
8
6
8
7
7
7
7
6
6
6
6
6
pal, When Duie.
payable, and by
Where
When
J.
7
7
7
7
7
7
2,153,300
500 &c.
100
100
1879.
83 %- 76
April
May
918,000
m
fromBellaire, O., to Columbus, O.,
980,528
1,228,592
1,529,255
10,000,000
100
677
649
322
$1,110,989
15,000,000
100 &c.
$272,700. Lease rental (35 per cent), $296,279. Loss to lessees,
$23,579. In 1879-80 gross earnings were $1,003,565; net, $311,454;
lease rental, $351,247.
The road between Newark & Columbus (33
miles) is owned jointly with the Pittsburg Cincinnati Sc St. Louis RR.
Co. (V. 30, p. 544.)
Central Pacific— Dec. 31,1879, owned from San Francisco, Cal., to
Ogden, Utah, 883 miles, and auxiliary lines, 330; total, 1,213 miles;
operated under lease or contract—the Southern Pacific, 732; California
Pacific, 115, and others,304; total, 1,147 miles; total length of road
operated and accounted for Jan. 1, 1880, 2,360 miles.
This was a consolidation (August 22, 1870) of the Central Pacific,
California & Oregon, San Francisco & Oakland, San Francisco Sc Alameda
and San Joaquin Valley railroads. In connection with the Union Pacific,
the Central Pacific forms a continuous line from San Francisco, Cal., to
Council Bluffs, la. (1,918 miles), and there connects with the lines east¬
ward. Construction was commenced in February, 1863, and the main
line (Sacramento to Ogden) opened May 10, 1869. The Union Pacific
was completed on the same day.
The prices of stock and monthly earn¬
ings have been as follows:
Prices of St’k.
Monthly Earnings
January
February
2,350,000
2,000,000
100 &c.
....
1878.
1,807,500
500,000
500,000
300,000
1,000
1,000
t
ings,
1880.
3,285,000
500 &c.
64
Gross earnings in 1878-79,
2,000,000
687,000
6,530,000
1,000
1,000
Chartered in 1847 and opened in 1854. Reorganized in
1865. Leased to the Baltimore & Ohio, for 20 years* Nov. 11, 1866;
rental, 35 per cent of gross earnings. Feb. 23, 1880, the lease was
extended to Dec. 1,1926, with the option of renewing for terms of 20
perpetually.
6,000,000
&c.
137 miles.
years
2,616,000
1,970,000
1,000
1,000
1,000
1,000
m
sterling, for £900,000
25,885,000
1,000
■
....
....
Cheshire—Stock, preferred
Bonds, not mortgage
Chicago <t A Iton—Common stock
Preferred st’ek (7 n. c. y’rly not cumulative)
1,500,000
6,080,000
....
....
i95
411,550
100
.
1869
1869
1868
1872
1870
1870
1878
1869
1872
1871
1869
1878
158
123
152
152
20
2d mortgage, currency (income bonds)
Old mortgage, (Va. Cent. RR.) coupon
Central Ohio.—July 1,1880, owned
.
1864
1870
“B”
2,437,950
1,000
m'm
50
146
Shar.“<£Al.—1st mort. lien on road.
funding bonds...
General mortgage,
-
1865-8
Chesapeake <6 Ohio—Purch. money
1st mortgage, gold, “A”
do
50
50
742
Chartiers—1st mortgage
do
1,000
100 &c.
....
®
$600,000
100 Sec.
@
....
m
137
137
137
2180
Mortgage
Cherry Talley
^
m
1878
Income bds. ($6,000,000), skg.fd.,10 p.c.per ann’m
Charlotte Columbia <£• Augusta—1st mort. consol...
2d
^
m
Rate per
Cent.
4,500,000
11,500,000
1,200,000
3,000,000
5,550,000
1*6*00
1875
.
Outstanding
Value.
....
...»
Amount
par
Bonds—Princi¬
INTEREST OR DIVIDENDS.
-
For
Tables.
immediate notice of any error discovered in these
favor by giving
DESCRIPTION.
[VOL. XXXI.
sufficient—“ all interest not
paid in cash to be paid in second preferred stock.”
502, 525; V. 29, p. 17, 66, 670; V. 30, p. 141, 248;
483, 509, 652.)
(V. 28, p.41,172,
V. 31, p. 204, 405;
30,1879,owned from South Ashburnham, Mass., to54 miles; leased, South Ashburnham to Fitchburg, 10>
miles; total operated, 64 miles. Opened in 1848. $51,000 rental paid
to Vt. & Mass, for leased portion of road. Gross earnings iu 1878-79,
$487,449; net earnings, $87,754. Dividend, 1% per cent. Capital stock
—common, $53,300, and preferred, $2,100,000; floating debt, $25,703,.
and profit and loss, $33,808; total liabilities, $3,043,811.
Per contra:
Cheshire— Sept.
Bellows Falls, Vt.,
and cash
$3,043,811. New
redeem bonds of 1880. (V.
—Road and equipment, $2,717,535; materials, $141,110;
and cash assets, $185,165; total property and assets,
6 per cent bonds for $586,000
to
27, p. 537; V. 30, p. 518.)
authorized
Chicaqo & Alton—Dec. 31,1879,
Louis, Ill., 244 miles; branches—to
owned from Joliet, Ill., to East St-
Coal City, 4miles; Dwight to
Wash¬
ington and. Lacon, 80 miles; Roodhouse to Louisiana, 38 miles; leased—
Chicago to Joliet, 37 miles; Joliet to Mazon River, 24 mile's; Blooming¬
ton to Godfrey, 151 miles; Louisiana to Cedar City, 101 miles;
.Kansas City to
exieo, 162 miles; total operated, 841 miles. Char-
Subscribers will confer a great favor
DESCRIPTION.
For
of
explanation of column headings, Ac., see notes
Road.
on first page of tables.
Size, or
of
Bonds
Value.
Outstanding
$1,000
220
220
1863
1862
Joliet A Chicago, 7 per cent, stock
do
do
1st mortgage, sinking furd....
St. Louis Jack. A Ch., 1st mortgage
do
do
1st mort. guar, by C. A A..
do
do
2d mort. guar, by C. A A..
do
do
2d mortgage
Louisiana A Missouri, 1st mortgage
do
do
2d mort.(int. guar. C. A A.)s
do
do
guar. pref. stock
Bonds for K.C.St.L.A C. line, s.f. $60,000 afteF7 J
Preferred stock do
guar. C. A A
C. A A. bonds on Miss. Riv. Bridge, 1st mort., gold
38
38
150
37
37
150
101
101
1857
1864
1864
1*868
1868
1870
....
....
162
1878
.
465781
Chicago Burlington c6 Quincy—Stock...
1st mortgage, sinking fund, (trust)
Consolidated mortgage coupon, (for $30,000,000)
Trust mort.on Iowa lines,coup.or reg.(s.f. 1*2 p.c.)
Northern Cross R. R. 2d. mortgage, gold
Trust mortgage (Burlington to Peoria)
Plain bonds ^coupon or registered)
Bonds of 1875, (sinking fund $13,860 per year).
Dixon Peoria A Hannibal, 1st m... 1
....
1877
1877
1682
466
825
689
100
96
....
1,000
1,000
J. A J.
A. A 0.
1,000
100
1,000
1,000
....
1,000
.
'
....
1,000
40
1875
1869
500&C.
70
1870
1,000
1,076,000
44
40
270
46
281
40
1870
500 Ac.
1870
1876
1,000
1,000
1,000
890,500
720,000
2,356,000
840,000
4,621,250
279,000
370,500
600,000
7,605,000
1,034.000
1,565,000
.
....
Quincy Alton A St. Louis, 1st mortgage, quar—
Burl.AMo.Riv.,l8t .onr’dA400.000'ac’8l’d > Cp
do
1st M. on br.,C.B.&Q.stk.(5th ser.)
or
do
Conv. bonds, C.B.AQ.stk.(6th ser.) ) reg.
Burl. A Mo. in Neb., bonds, convert, till Jan., 1882
do
consol.M.for $14,000,000, s.f. $30,000
do
Omaba A S. \V., 1st M., guar
Republican Valley RR., deferred stock
....
....
191
49
1876
1863
1869
1870
1873
1878
1872
....
399,000
546,500
1,000
50
500
500
500
600
Ac.
Ac.
Ac.
Ac.
Ac.
1,000
....
Mississippi, February 27, 1847; reorganized
21,1857, as Chicago Alton A St. Louis, and under
1861, the present corporation succeeded to the
property, which was sold under foreclosure in the following year and
transferred to new organization in October, 1862.
Chicago and St.
Louis w'ere connected by the present line in 1864.
The Joliet
A Chicago is leased from January 1, 1864, for the term of its
charter, and forms part of the main line. Rental, 7 per cent on stock and
8 per cent on bonds. The St. Louis Jacksonville A Chicago is leased in
perpetuity from April 30,1868, at a rental equal to 40 per cent of gross
earnings until the amount reaches $700,000, with a minimum of $240,000
a year. The Louisiana & Missouri River is leased for 1,000 years from Aug.
1,1870. Rental, 35 per cent of gross earnings, but interest guaranteed
on second mortgage bonds and preferred stock as above; the other pre¬
ferred stock is $1,010,000 and common stock $2,272,700.
The Chicago
& Illinois River R. R. was sold in foreclosure Sept., 1879, and purchased
by this company. The Kansas City 8t. Louis A Chicago was opened
through May 1, 1879. It was built by the Chicago & Alton Company,
and is leased to said company in perpetuity from November 1,1877. at a
rental of 35 per cent of gross earnings, less taxes and assessments. The
bonds are held by United States Trust Company as security for the C. &
A. bonds of 1878 issued to burld this road, and a sinking fund of
$60,000 per annum provided for their redemption. Should the 35 per
cent be more than sufficient to pay bond interest and 7 per cent on
the stock, the excess is to go to the lessees. The Mississippi River Bridge
is leased in perpetuity from December 3, 1877, at a rental of $63,000, to
l>e applied in payment of 7 per cent on $200,000 stock, and 6 per cent on
$1,000,000 issued
monthly earnings
have been:
/
Jan.
Feb.
Mar.
Apr.
May
J’ne.
July
Aug
Sept
Prices of Stock.
Monthly Earnings
1879.
1880.
-Preferred.-Common.1880.
1879.
1880.
$
1879.
343,737 524,055
88 - 79i4 109V 99*2 106 -105*2 120 -117
307,681 488,543
87 - 78
110*4-106*2 110 -107*2 122 -122
327,370 602,624
80 - 75
116 -106*4110 -108
127 -124
335,393 537,326
80 - 75
115 -108
109 -109
124 -122*8 421,937 602,131
85 - 77
108*2-103*2 110 -108
447.794 609,255
84*4- 81*4 113 -106*2 114 -114
536,843 676,317
88*4 84
11538-110
114 -114 130 -130
95 - 86
130 x!25*2 583,832 740,842
118 x 113*2
628,811 733,234
97 - 88
118 -113
110*2-110 130 -130
142*2-142*2
99V 94*2 136VI 12*2 110*8-110
Nov.100*4- 97*4 144 -131
115 -112*2 144 -140
Oct.
Dec. 100
1%
-
98
-
-
Annual report for 1879 in V. 30, p. 246.
have been as follows for seven years past:
668,163
601,101
-
3*2
6 g.
Net
Operating
Earnings.
Expenses.
Earnings.
$3,376,255
2,901,351
2,604,124
2,691,061
2,357,006
2,515,134
3,049,520
$2,121,286
2,224,877
2,052,638
2,269,268
2,107,337
2,156,385
2,706,156
5,755,677
274, 298, 400, 428, 624; V. 30. p. 246, 408; V.
Chicago Burlington <6 Ouincu.—Jan. 1,
Dividends
on Stock.
6
2
8
7
4A 5
4 g7
7
5
8
8
8
8
5
5
7
8
8
8
6
8
985,652
926,898
448,262
765,776
31, p. 68.)
1880, owned from Chicago,
Ill., to Plattsmouth, la., 484 miles; branches in Illinois, 570 miles, and
in Iowa 267 miles; leased lines in Illinois, 321 miles, and lines operated
under contract for joint use in Iowa, 27 miles; total lines and branches
owned, leased ana operated at close of 1878, 1,670 miles. During the
year 1879 the Iowa branches were extended in the aggregate a length of
114*2 miles (10in Missouri). The total length of road operated Jan. 1,
1880, was 1,856 miles. In February, 1880, the St. Joseph & Des Moines
(narrow gauge), 23 miles, was purchased. Subsequently, in 1880, the
Burlington A Mo. in Nebraska was absorbed, 630 miles, mcluding leased
lines. The Republican Valley RR. stockholders were given a deferred
stock entitled to no dividends before Jan. 1,1885, at which date it is ex¬
do
do
N.
Q.—M.
do
do
do
do
do
do
do
do
do
do
April, 1894
April 1. 1894
July, 1898
July, 1898
Aug., 1900
Nov. 1, 1900
Aug., 1880
May 1, 1903
May 2, 1880
Y., Bk. of Commerce.
do
do
A J. N.Y.N.Bk.of Com.ABo8t
A O. N. Y., Bk.of Commerce.
Frankfort.
A J.
A O. N.Y., N. Bk. of Com’rce.
Boston, Co.’s office.
A J.
Boston, Co.’s Office.
A D.
A J.
J.
J.
A.
J.
A.
J.
J.
J.
J.
A.
J.
A.
F.
A
J.
J.
J.
J.
J.
A J. N.Y., N. Bk. of Com’rce.
A J. New York and Boston.
Boston.
A O.
A J. New York and Boston.
Boston.
A O.
A A. N.Y.,Farmers’ L. A T.Co.
A O. Boston and New York.
do
do
A J.
do
do
A J.
A J.
Boston, Office.
do
A J.
do
A D.
Oct. 1, 1912
Dec. 15,1880
Jan.
1, 1883
July 1, 1903
Oct. 1, 1919
July 1, 1890
Oct. 1, 1890
Jan. 1, 1890
June 1, 1896
July, 1889
July, 1900
Oct., 1890
July, 1890
Oct. 1, 1901
Feb.
Oct.
1896
1893
1894
1889
Jan.
1. 1883
1,
1,
July 1,
July 1,
July 1, 1918
June i, 1896
....
....
Jan.ll8VH638 103*2-102
Feb. 117V109
105V 99*4
101 v 9934
Mar.l09*2- 94
106 -101*4
Apr.104 - 96
105 VI00
May 102*2- 99
J’ne 101
95*2 108
-
-104
*
114 V106*2
J’ly.100 - 97
Aug 104*2- 98*2 112*2-108*4
Sept 102*4- 99*2 112 V1087s
Oct.. 105 -101*4 113 -108
Nov.103 V101*2 112*2-110
111 -105*2
Dec. 102*4-101
The last annual
1880.
1879.
-Prices of Stock.1879.
1878.
1880.
117*2-111*6 152
122*4-115*2 148
-136
1105,098 1200,238
-144*2 982,377 1180,853
115*4-11238 149*2-140*2 1071,738
-112*2 149V123
1018,755
118*2-113*4 xl25-113*2 1171,303
116 -114% X122-113
1160,968
119 -116
x25*4-120
993,823
119*2-11338x39*2-126*2 1315,559
115*8-113*4 140 -126
1484,316
124 -11378 146 -134*8 1709,932
123*4-117*4 175*2-145*2 1327,679
134*2-119
1438,167
115
1453,611
1260,319
1619,227
1434,515
1566,661
1610,168
1579,465
1099,533
report was published at length, with an article on the
general situation of thefor four years the Chronicle, V. 30, p. 334; 354
omparative statistics company, in are as follows:
1876.
Total
Total gross
1879.
1,604
1,760
46
105
97
1,343
$
operated
1878.
1,575
46
.
1877.
1,297
Miles owned
Miles leased and controlled
1,621
1,700
$
$
1,857
$
14.817,105
7,228,222
12,057,795 12,551,454 14,119,665
earnings
6,475,252 6,851,155 7,533,135
Total operating expenses.
*
*
Net
5,582,543
earnings..,
53-70
oper.cxp.to earn’gs
P.c. of
5,700,299
6,586,530
7,588,883
54-58
53-35
48-74
i •
INCOME ACCOUNT.
$
5,582,543
5,700,299
84,263
Total income
131,395
2,108,469
$
6,586,530
$
7,588,883
Disbursements—
Rentals
Dividends
Carried to
327,159
155,695
2,155,972
*603,437
2,479,715
2,212,827
241,104
31,442
223,313
1,000,000
paid
1,991,957
418,234
Interest on debt
Taxes
1...
2,749,065
sinking fund...
194,082
Mifloelljincoiis
Transf’d to renewal fund.
144,942
Balance, surplus
*
Including $264,656 taxes ’73 A ’75.
381,015
Railroad, buildings, Ac..
Equipment
179,093
2,110,938
328,844
3,081,985
230,493
1423,085
1,000,000
235,286
234,445
t Balance of accounts written off.
GENERAL BALANCE AT CLOSE OP
Assets—
EACH FISCAL YEAR.
$
$
$
.50,193,931 53,384,339 54,840,462 58,112,329
8,986,754 9,446,499 10,305,749 11,131,683
404,553
52 251
1,633,958
1,711,929
Materials, fuel, Ac
518,447
16,252
Cash on hand
Due from 8t.L.R.I.AC.RR. 1,985,083
Trustees B. A M. I’d grant.
862,485
Trustees C. B. A Q. s. fund
619,171
49,369
Miscellaneous items
888,655
79,011
524,796
172,491
1,062,650
1,348,559
1,067,889
50,362
Stocks owned, cost
Bills and acc’ts receivable
Liabilities—
Stock, common
Stock, B. AM
‘.
Bonds
Bills
876,019
55,725
1,756,434
1,2441276
753,589
529,661
1,695,842
1,273,415
60,434
.....65,270,003 67,557,078 70,066,742 74,801,229
Total
payable
changeable into C. B. A Q. stock. The Kans. C. St. Jo. A Council Bl. and Sinking funds
branches was purchased. 254 miles. See statements of those roads, prior Contingent liabilities
to consolidation, in Supplement of April 24, 1880; also in Chronicle,
Land grant sinking fund..
V. 30, p,
and V. 31, p. 228. The Chicago Burlington A Quincy was Income account
a consolidation (Jan. 1, 1873> of the Oh-' ^o Burlington A Quincy in
Renewal fund
Illinois and the Burlington A Missouri River in Iowa. TheQ. A. A St. Miscellaneous
Lt. was leased m perpetuity from Oct. 1,1876, at a rental or $42,000
Profit and loss...
a year.
The St. L. R. I. A C. was leased from Oct. 1,1876 ,at a rental of
$175,000 a year.
The Chicago Burlington A Quincy on its leases of the numerous branch
roads usually gave them a traffic guarantee of 40 or 50 per cent for pur¬
>
A. A O.
July, 1882
Paton A Co.
'■
Q.-F.
1*2
1877.
$1,135,080
1,135,080
1,021,572
J. N.Y., Jesup,
do
O.
do
0.
do
J.
do
J.
do
A.
do
N.
do
A.
do
N.
A
A
A
A
A
A
A
A
A
A.
A.
J.
J.
F.
M.
F.
M.
Monthly Earnings.
Operations, earnings, Ac.,
$5,497,541
5,126,228
4,656,764
4,96#,§29
4,464,343
4,671,519
-(V. 28, p.
680,952
553,014
Gross
Years.
786,116
J.
Jan.. 1893
Jan., 1883
Jan., 1881
do
do
N. Y. U. S. Trust Co.
Q.-J.
.
8
7
7
7
7
7
7
the Chicago &
under act of January
act of February 16,
$700,000 bonds. New common stock (C. A A.) for
May, 1880, see V. 30, p. 408. Prices of stock and
Stocks—Last
Dividend.
N.Y.,Jesup, Paton A Co.
7
262,100
3,000,000
1,750,000
700,000
52,000,000
2,711,000
13,695,000
600,000
741,000
653,000
838,475
1,000
....
7
300,000
100
1858
1873
1879
Whom.
1,096,000
1,500,000
306,000
2,365,000
564,000
188,000
360,000
1,851,000
1,000
1,000
1,000
1,000
1,000
Where Pavable, and by
Payable
$2,363,000
500 Ac.
100
When
Cent.
....
....
Bonds—Princi¬
pal,When Due.
Rate per
1872
.
..
as
Amount
Par
100
Ottawa, Oswego A Fox Riv., 1st m l but rrmvbeIllihois Grand Trunk, 1st mort.... ]
O.uincv A Warsaw, 1st mortgage
j reg18™1™1B’ds for St. L. R. I. A C. (sink, fund $50,000) coup.
tered
xxi
INTEREST OR DIVIDENDS.
Date
1st mortgage
Income bonds
.
BONDS
by giving immediate notice of any error discovered in tbcse Tables.
Miles
Chicago <C Alton—(Continued)—
AND
STOCKS
RAILROAD
December, 1880.]
Total liabilities
$
$
$
$
27,227,811 27,377,610 27,822,610 30,883,609
267,306
120,856
370,432
134,206
22,986,325 26,122,826 27,058,725 27,270.225
81,205
2,043,575
3,800
29,000
2,072,952 2,360,014 2,651,825 2,963,086
4,515,000 4,482,000 3,819,000 3,233,000
1,114,640 1,437,722 1,719,229 2,164,015
3,991,384 3,946,532 4,181,818 4,416,263
1,000,000 2,000,000
796,302 1,413,760 1,462,285 1,644,582
151,582
145,508
76,602
105,839
65,270,003 67,557,078 70,066,742 74,801,229
Enough of the C. B. A Q. consolidated mortgage The land grant brought into the consolidation was 388,817 acres, all of
1878. The
prior debts. The bonds of 1876 for St, Louis Rock which, except 39,932 acres, had been sold by the close of The
grant
Island A Chicago Railroad are plain bonds of Chic. Burlington A Quincy, assets at the close of 1878 amounted to $4,909,431.
offset by mortgage of like amount on 8t. Louie Rock Island A Chicago was made to the Burlington A Missouri River Railroad. (V. 29, p. 67,
road deposited with, trustees. Prices of stock and monthly earnings 119, 356, 658; V. 30, p. 16,116, 221, 248, 334, 354, 519, 533, 566; V.
chasing their bonds.
is reserved to take up
have been:
31, p. 179,
228,240,259,288,381,405,428,453,588, 652.)
RAILROAD
XX ii
Subscribers will confer a great favor by giving
explanation of column headings, Ac., see notes
on first page of tables.
•Chicago Burlington d Quincy—(Continued)—
Bur.A Mo., Nebraska RR., consol, mort., guar...
Bonds, s. f. for Atchison A Neb. RR. stock
Atchison A Nebraska, 1st mortgage
Council Bluffs A St Joseph, 1st mortgage
•
..
.
•Chicago Cincinnati d Louiscillc—1st mort
•Chicago Detroit d Canada Grand Junction- -1st M
Chic, d East.III.—1st M., coup. <s.f.$20,000 aftcr’65)
2d mortgage income (non-cumulative)...
Chicaao d Grand Trunk—1st mortgage, sterling...
........
.
.
........
Chicago loica d Nebraska—Stock
2d mortgage (now 1st)
do
(now 2d)
1st mortgage
2d mortgage
•
•
.
....
67
73
59
131
131
320
320
80
82
82
82
1,729
1,729
Chicago Milwaukee d Si. Paul--Com. stock
Preferred 8t’ck (7 p. c. y’rly, not cumulative)
Consolidated mortgage (for $35,000,000)
3* J
1st mortgage (Lacrosse Div.)
X
2d mortgage
1st mortgage (Iowa A Minnesota)
1st mortgage (Minnesota Central)
1st mortgage (Iowa A Dakota)
1st morV fa. A Dak. Ext.($15,000 p.
•
149
52
274
.
2d mortgage, income
Chicago d Iowa—1st mort., coup., may be reg....
Miles Date
of
of
Road. Bonds
133
.-.
Kansas City St. Jo. A C. Bl., mortgage
do
do
income bonds, reg..
Chicaao d Canada Southern— 1st mort., gold
3d
....
370
370
220
49
u
>>%
a ^
£ O
•
m.)
(Prairie du Chien)
Milwaukee A Western
X
8t. P.A C.lst M.(Riv.Div.) $ A £(conv.)..
1st mortgage, Hastings A Dakota
|
1st mortgage, Chicago A Mil. line
Bonds for Davenport A Northwest RR...
1st mort. on S. W. Div. Western Union RR
1st mort. on Chic. A Pac. Div. ($3,000,000)
•
•
•
300
235
235
•M
(Prairie du Chien)
....
ac
a
£2
130
75
85
160
212
88
1877
1880
1878
1866
1877
1877
1872
1867
....
1877
1877
1880
1880
1871
....
1860
1863
....
1875
1863
1864
1867
1864
1869
1878
1868
1868
1861
1872
1872
1873
1879
1879
1880
Size, or
Par
Chicago d Canada South —Dec. 31,1879, owned from Grosse Isle,
$1,000
100 Ac.
1,000
<<
100 Ac.
100
500 Ac.
....
100 Ac.
100 Ac.
£100
500
1,000
100
100 Ac.
500 Ac.
100
100
1,000
1,000
1,000
1,000
1,000
1,000
1,000
3,810,000
183,000
577,000
3,500,000
3,674,000
1,315,000
219,000
4,000,000
160,000
2,500,000
1,000
1,000
1,000
....
1,000
1,000
1,785,000
4,000,000
2.000,000
....
1,000
1.00 >
It had a capital stock amounting to $2,607,400
bonded debt of $2,546,000, and owed
due coupons.
officers.
Chicago Detroit d Canada Grand Junction.—Dec. 31, 1879, owned
from Port Huron, Mich., to Detroit, Mich., 59 miles. Opened in 1859.
Leased to Grand Trunk of Canada. Operations, expenses, Ac., included
in lessees’ returns.
Rental—interest, quarterly, $65,700, and dividends,
7
6
7 g.
.
pal,When Due.
Where Payable, and by
Whom.
Payable
Stocks—L ast
Dividend.
Boston, at Office.
Jan. 1, 1910
Mar. 1, 1908
Jan. 1, 1880
Jan. 1, 1907
Jan. 1, 1907
N. Y., Union Trust Co.
N. Y., Farm. L. A T. Co.
April 1, 1902
Jan., 1887
O.
J.
S.
J.
J.
0.
A. A O.
J. A J.
J. A D.
J. A D.
Dec.
J. A J.
7
4
7
7
500,000
2,488,174
2,541,350
1,000,000
1,095,000
2,925,000
714,329
6,000,000
4,000,000
1,750,000
3,916,200
568,200
211,500
15,404,261
12,279,483
8,433,000
6,600,000
496,000
1,000
Mich.,
Cent.
4,495,522
When
Bonds—Princi¬
A.
J.
M.
J.
J.
A.
Rate per
$1,836,000
3,347,000
1,125,000
1,000
upwards of $1,000,000 over¬
Original cost, $5,176,557. It is a part of a projected line
between Chicago and Detroit River, but failed in 1873. It is said that
the road will be extended to a connection with the Lake Shore A
Michigan Southern Railroad.
Chicago Cincinnati d Louisville—Dec. 31, 1879, owned from Peru,
Ind., to La Porte, Ind., 73 miles. Opened in 1858. It is a reorganiza¬
tion of the Cincinnati Peru A Chicago, and forms a part of the line
from Indianapolis to Michigan City. No information is furnished by the
a
Amount
Outstanding
Value.
to Fayette, O., 67 miles.
Has been operated by the Canada South, for two
years, and no separate accounts are rendered. On Nov. 1, 1879. it was
transferred to the Lake Shore A Mich. South. The price given for it was re¬
and
[VOL. XXXI.
immediate notice of any error discovered in these Tables.
|
ported to be $750,000.
BONDS
AND
INTEREST OR DIVIDENDS.
DESCRIPTION.
For
STOCKS
7
6
6
7
« g*
7
8
5
7
7
A
A
A
A
A
A
Boston, Office.
Boston, N. E. Trust Co.
Boston, at Office.
Boston and New York.
do
do
London, England.
York, 4th Nat. Bk.
New
do
do
London.
New York.
Sept.
J. A J. New York and Boston.
J. A J. Boston, by Treasurer.
J. A J. Boston, Merchants' B’k.
F. A A. N. Y., Nat. Park Bank.
New York, Office,
A. A O.
do
do
J. A J.
do
do
do
J. A J.
do
A. A O.
do
do
J. A J.
do
do
J. A J.
do
do
J. A J.
do
do
J. A J.
do
do
F. A A.
do
do
F. A A.
do
do
J. A J.
do
do
J. A J. London and New York.
J. A J.
New York, Office.
do
J. A J.
do
do
do
J. A J. N.Y., Mil. A St.Paul RR.
J. A J.
do
do
3%
3%
....
7
7
7
7
7
7
7
8
7*3
7
7 g7
7
5
6
6
Oct.
1, 189S
June, 1907
Dec
1907
1900
1930
,
July
July
July
Aug.
1,
1,
1,
15,
Oct. 15,
Oct. 15,
July 1,
1901
1880
1888
1892
1880
1880
1905
1893
1894
1897
1894
1899
July 1, 1908
1898
1898
1891
Jan., 1902
1902
1903
1919
July 1, 1909
Jan.
1, 1910
Hastings & Dakota, 128 miles: the Wisconsin Valley, 69 miles the
Chicago Clinton Dubuque A Minnesota (under lease), 3Q0 -miles. See
Supplement of April 24, 1880, for condition of bonds of these
roads before the merging. The Milwaukee A St. Paul RR. Company
was organized
May 5, 1863, and embraced a number of other com¬
panies, including the Milwaukee & Mississippi, the Prairie du Chien,
the Lacrosse & Milwaukee, and others.
The Milwaukee A St. Paul
afterward purchased,, the St. Paul & Chicago Road and Others, and
built the line from Milwaukee to Chicago, and on February 11,
1874, the company took its present name.
In February, 1880, the
Hastings A Dakota RR. was also reported as purchased, and in March
and April the Chicago A Pacific purchased and the Sioux City A Dakota
leased. The Western Union Railroad was leased in 1879 for 999 years,
and the bonds were to be retired by the issue of the Chicago Milwaukee A
St. Paul bonds secured by mortgage on that road.
Of the consolidated
mortgage bonds of 1875, enough are reserved to take up the prior bonds,
and any of the holders of those bonds (except tin*. Iowa A Dakota
division) may exchange them for the consol, bonds. The latter had a
sinking fund of 1 per cent per annum, but holders may have their bonds
stamped and discharged from the operation of the sinking fund. The
Southern Minnesota bonds were all to be exchanged for the bonds of this
aciui-annually. each 2 per cent, $43,800. Capital stock. $1,095,000, and
funded debt, $1,095,000; total liabilities (representing cost of property),
$2,190,000. The road is the absolute property of the lessees, but a company secured on that line (see V. 30, p. 433), and the condition of
those bonds before consolidation may be seen in the Supplement of
separate organization is maintained in Michigan.
April 24, 1880. Prices of stock and monthly earnings of the Chicago
Chicago d Eastern Illinois.—August 31, 1880, owned from Dolton, Ill., Milwaukee A St. Paul have been:
to Danville, Ill., 107% miles, and Bismarck, III., to Coal Creek, Ind.. 24
Prices of Stock.
Monthly Earnings.
miles; leased, Dolton to Chicago (C. C. A I C.), 20% miles; Evansville
Common.
«—=
Preferred.
1879.
1880.
T. Haute A C. RR., Terre Haute to Danville, Ills, 55 miles; total oper¬
1879.
1880.
1879.
1880.
$
$
207 miles. A new line from Dolton into Chicago is being built by Jan.
ated,
48%- 34% 8b%- 75% S5%- 74% 103%-100% 591.175 763,000
the Chicago A Western Indiana Railroad Company, and has been leased
Feb. 42V 37% 81V 76% 85V 79% 104%-10J% 476,666 739.000
to this company.
Evansville Terre Haute. A Chicago, leased May 1, ''Mar. 41V 35% 85V 79
83V 79% 107%-103% 632,898 901,000
1880, for $7o,000 per year. Chartered as Chic. Dauv. A Vine, in 1865,
39% 83%- 75:% 83%- 79% 105'*%-102
678,439 871,000
and opened in 1872 and 1873. Sold under foreclosure February 7, 1877, Apr. 43V
857.323 1135,000
and reorganized under existing style September 1, 1877. Gross earn¬ May 5134- 40% 78 - 66% 91 - 81% 102%- 99
J’ne. 54V 50% 81%- Gs% 93%- 90
106 - 99% 798,658 1038,000
ings in 1879-80, $1,020,794; net earnings, $389,445; payments—taxes, July 64V 50% 89 - 73
96%- 90% 110 -lo2
773,172 1026.000
rentals and interest,
$264,905; surplus, $124,538.
Capital stock, Aug; 70 97%- 92% 112% 108
61% 91 %- 87
733,756 991.000
August 31, 1880, $333,054; mortgage, $3,000,000;
income bonds, Sept 71 -64%
95%- 87% 101%- 96% 114 -109% 1018,806 1257,000
$714,329; bills payable, &c., $97,663; accounts, $158,100; and income Oct.. 75%- 67% xOG%-x91
xl21 -x09% 1290,739 1194.000
99%- 97
balance, $204,956; total liabilities, $t,511,680.
Per contra--Cost of Nov. 82%- 69 112%-101% 102%- 97% 124 -117% 1100,244 1472,000
road and equipment, $1,136,348; tnortgage bonds on hand, $75,000,
Dec. 76
68%
100%- 97
1060,957
and sundry accounts and balances, $300,334; total pi*operty, Ac.,
An abstract of the last annual report was published in the Chronicle, V.
$4,511,680. Dec. 1, 1880, 4 per cent interest for 1879-80 was paid on 30, p. 406. The following table shows the operations earnings, capital
income bonds. (V. 28, p. 113,327; V. 29, r* 1*0, 488; V. 30, p. 91,
account, Ac., for four years past:
221; V. 31,p. 327, 451, 510.)
1876.
1877.
1879.
1878.
Chicago d Grand Trunk—This is the consolidation of roads between Miles owned
1,400
1,772
1.412
2,231
Detroit and Chicago formed in April, 1880, under the control of the
OPERATIONS AND FISCAL RESULTS.
Grand Trunk of Canada. It includes the former Port Huron A Lake Passenger mileage... 59,845,665 55,925,449 65,498,189 78,119,592
Michigan and the Peninsula roads, sold in foreclosure. Stock, $6,600,000. Rate per pass. p. mile
3 21 cts.
3*09 ets.
2 93 cts ,
3-20 cts.
-(V. 30, p.322, 384)
Freight (tons) mil’ge.264,808,027 271,598,133 321,818,902 401,595,734
Chic, d loica.- June 30, 1879, owned from Aurora, Ill., to Foreston, Ill., Av. rate p. ton p. mile
2*04 ets.
2*08 cts.
1*80 cts.
1-72 cts.
80miles; leased,Flagg Centre to Rvkf'* d, 24 miles; total operated, 104
$
$
$
$
miles.' C urtered in 1869 and opened in 1872. In hands of a Receiver for
Total gross earn’gs.
8,054,171
8,114,894
8,451,767 10,012,819
two year? and a-half, and sold Mar. 9, 1878, in foreclosure of second mort¬ Oper. exp. (iucl.tax’s)
4,953,324
4,540,433
4,792.313
5,473,794
gage of $1,150,000, and a resale ordered.
Compromise effected, and
c»jpon of July, 1878, paid July, 1879. Net earnings under receiver (29 Net earnings
*.... 3,100,847
3,574,461
3,659,454
4,539,025
m: nths), $781,913—$323,950 per annum.
Balance after all payments, P.c. of op.ex. to ear’gs
61*50
54*70
56*00
56*70
INCOME ACCOUNT.
$63,004. Interest liability, $140,000 a year. Capital stock, $1,328,000,
and funded debt, $1,750,000; total stock and bonds, $3,078,000. Cost
1878.
Receipts—
1877.
1879.
of road and equipment, $3,158,000. This road is used by the Chic. Burl. Balance January 1
$1,433,645 $2,359,306 $2,520,074
<fc Quincy to connect with the Ill. Cent. (V. 30, p. 168 ; V. 31, p. 44,122.) Net earnings
4,539,024
3,574,461
3,659,454
74,517
13,430
Chicago loica d Neb—July 1, 1879, owned from Clinton, la., to Cedar Other receipts
Rapids, la. (all steel), 82 miles. Chartered in 1853 and opened in 1858.
Total income
$5,008,106 $6,032,190 $7,133,615
Bridge over Mississippi opened in 1856. Leased to Galena A Chic. Un. at
Disbursements—
37*2 per cent of gross earnings, and now operated by Chic A Northw.; the
Interest on debt
$2,162,159 $2,135,730 $2,287,407
maximum rental by subsequent agreement not to exceed $500,000 a
Miscellaneous.
4,034
32;040
year. Interest liability, $17,383, and dividends (10 per cent),$391,620;
859,564
429,607
1,289,346
total fixed charges, $439,003 a year. Capital stock, $3,910,200; funded Dividends on preferred stock *....
385,106
debt, $676,000; interest and dividend balances, $9,592, and surplus Dividends on common stock
53,000
55,000
.70,000
account, $341,894; total, $4,943,686. Per contra—Construction, $4,662.- Sinking fund
2,359,306
2,520,074
3,531,538
123, and cash and cash assets..$281,563; total, $1,943,686. The first Balance, surplus
mortgage has been satisfied and canceled as of record.
Total
$5,008,106 $6,032,190 $7,133,615
Chicago Milwaukee d St. Paul—In February, 1880, the following was
GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR.
officially reported as the mileage owned and operated by this company,
1878.
1879.
1876.
1877.
making a total of 2,251 miles in all: Chicago to Milwaukee, 85 miles;
$
$
$
Milwaukee to La Crosse, 196 miles; La Crosse to St. Paul, 130 miles;
56,886,833 59,001,257 63,399,448
Milwaukee to Prairie du Chien, 194 miles; Milton to Monroe, 43 Railroad,equipm’t,Ac 56,277,227
Stocks owned, cost...
1,515,750 \
1,515,750
miles; North McGregor to St. Paul, 212 miles; Conover to De2,469,096
7,133,028
Bonds owned, cost...
353,171 5
350,471
corali, 9 miles; Mendota to Minneapolis, 9 miles; Calmar to Marion Bills A acc’ts rec’vable
185,610
162,098
161,653
483,604
Junction, 287 miles; Austin to Mason City, 39 miles; Hastings
133,127
Materials, fuel, Ac.
199,186
244,721
385,971
to Ortouville, 202 miles ; Davenport to Fayette, 128 miles ; WaterCash on hand
976,160
1,181,047
901,760
801,694
town to Madison, 37 miles; Milwaukee to Portage, 98 miles; Mad¬
Daven. A N’west RR.
1,750,000
ison to Portage, 39 miles, Sparta to Melvina, 12 miles; Lisbon to Neeedah,
Miscellaneous items..
112,329
305,165 . 264,565
318,660
13 miles; Wabasha to Zumbrota, 59 miles; Horicon to Berlin and Wiulieconne, 57 miles; Ripon to Oshkosh, 20 miles; Sabula to Cedar Rapids,
Total
59,757,1.92 60,562,205 63,083,910 74,066,074
92 miles; Paralta to Farley, 44 miles; Racine to Rock Island, 197 miles;
Part of these dividends on preferred stack were stated as payable
Eagle toElkhorn, 17 miles, and Eldridge to Maquoketa, 32 miles. Since
February, 1880, the company has acquired the Chicago A Pacific, out of the earnings of the previous year as follows: In 1877, $429,607;
88 miles, by lease; the Southern Mjdu. and extension, 446 miles; the in 1878, $859,564; and in 1879, $429,781.
:
/
/
-
*
..
*
Subscribers will confer a great
AND
STOCKS
KA1LR0AD
1S89.J
December,
BONDS.
XXlll
favor by giving Immediate notice of any error
discovered In these Tables.
INTEREST OR DIVIDENDS.
Miles
Date
Size, or
Amount
Rate per When Where Payable, and
Par
of
of
Outstanding
Whom.
Cent.
Road. Bonds Value.
Payable
DESCRIPTION.
.
on
of tables.
first page
Chicago Milwaukee <& St. Paul—( Continued)—
1st mort. on So. Minnesota Div. ($9,000,000)
1st mort. on Hastings A Dakota Div
1st mort. on Cbic. Clinton Dubuque A Minn
1 st old mort.
do
do
1st mort. on Wisconsin Valley RR
2,154
2,154
Chicago <£ North western— Common stock
Preferred st’ek (7 p. c. y’rly, not cumulative)
Bonds, pref. (sink’g fund), 1st mort., Chic, to Osli.
Interest bonds, funded coup., 2dm., Cbic, to Osb.
1st mort., general, 3d mort., Cbic. to Osbkosh
Appleton exten., 1st mort. on 23 miles and land..
Green Bay exten., 1st mort. on 26 miles and land
1st mort., Galena A Chicago Un. RR. extended...
Mississippi River Bridge b’ds, lien on net earnings
let molt. (Peninsular RR.) on roads and lauds...
1st mortgage (Beloit A Madison
Consol, sink’g f’d Mortg
Madison extension, 1st mort., sinking fund, gold.
Railroad)
Chicago A Milwaukee, 1st mortgage, 2d lien
248
1853
74
46
779
126
85
25
120
186*3
Sinking fund bonds of 1079 ($i 5.000 per mile)...
Chicago Rock Island<& Pac.—St’ek (for$50,000,000) 1,348
636
1st mortgage (for $12,500,000) coup, or reg
271
Chic. A 8outliw., lstM.g. (g’d in cur. by C.R.f.AP.)
1S76.
$
Liabilities—
15.399,261
Stock, common
12,274,483
Stock, preferred
Bonded debt
30,010.500
109.921
All other dues A acc’ts
Income account
1,433,645
8
15,404,261
-
4*
1862
100 Ac.
1,000
500 Ac.
....
100
1,000Ac
1877
1869
$
15,404.261
100 Ae.
1879.
$
63.083.910
74.066,074
12.279,483
-(V. 30. p. 116, 144, 191,322, 356, 381. 394, 406, 408,433, 518,544,
624, 668; V. 31, p. 44, 56, 94, 152, 328, 483, 535, 445, 558.)
Chicago <& V rthuc ester n.— At the end of the fiscal year, May 31, 1880,
the mileage was made up in tlio annual report as follows: Wisconsin
Division, 323 miles; Galena Division, 313 miles; Iowa Division, 438
miles; Madison Division and Extension, 227 miles; Peninsula Division,
247 miles; Milwaukee Division, 85 miles; total Chicago & Northwestern
Railw ay, 1,632 miles. Proprietary roads : Winona A St, Peter Railroad
and branches, 509 miles; Iowa Midland Railway, 69 miles; Northwest¬
ern Union Railway, 63 miles; Toledo A Northwestern, 11 miles; total pro¬
Total miles of Chicago A Northwestern and
miles. Other roads owned or
proprietary roads, May 31, 1880,2,284
controlled were: Des Moines <fc Minneapolis, 58 miles; Shcyboygan &
Western, 78 miles; Southern Wisconsin Divison, 9J miles. Total owned
and controlled. May 31, 1880, 2,513 miles.
The Chic. St P. Sc Fond-du-Lac RR., which was a consolidation of seve¬
ral roads, was sold in foreclosure June 2, 1859, and the Chicago Sc North¬
western Railway was organized as its successor with a mileage then of
193 miles, not all complete.
In 1864 the company absorbed
Dixon
Rockf. A Kenosha, the Gal. ACliie Union and the
RR.of Mich.
In 1878 the Lacrosse Trcrnp A Prescott RR. was also consolidated. The
progress of the company in mileage, truffle, earnings, Ac., is best
m the comparative tables below.
All the bonds prior to the consolidated
Peninsula
the
shown
mortgage sinking fund bonds may be replaced by the latter Issue as they
arti retired and canceled.
Quarterly dividends were commenced on the
-Common.1880.
1879.
653s- 49 5g 92 V 89
6414- 56i8 93 Si- 88*2
GO 34- 51*2 97 - 91>2
97
63 V 57
92*8
64°8- 583(3 93 V 87*2
67V 6'J 4 95*4- 87 78
74 V 63 3* 99 V 87*8
80 V 72*2 101V 97*8
84 - 75*8 5 06
9914
.
Jan.
Fob.
Mar.
Apr.
May
J’ne.
July
Aug.
Sept
-
Oct. 90 V 82*2 127 VI05
Nov. 94 V 84
142V1223*
Dec. 92V 85*a
Tho company
V
-
has a land
-
ant
gran and the summary
of the Commissioners’
report showred that in 1879-80 126,638 acres were disposed of for
$441,355, an average of $3 15 per acre. The lands on hand May 31,
1880, and the general condition _of the. Department are showrn in the
following:
Remaining Total of out- Lands not
Name of
grant.
On hand
nneouveyed, standing
May 31,’79. May 31,1880. contracts.
Michigan
Wisconsin
Menominee River
■Acre«.-
Acres.
Acres.
1,142,559
602 170
354,529
Minnesota
1,122,305
176,725
93,736
583,186
27,100
351,402
92,090
3,998
120
deeded *or
contracted.
Acres.
945,579
556,086
347,403
91,970
207.944
2.192,905
2,148,984
1,941,039
report, in the Chronicle, V. 31, t>. 202,
Total
An abstrjvct of the last annual
showed the following earnings, expenses,
ing proprietary roads;
Sec., for the whole line, includ¬
INCOME ACCOUNT.
1876-7.
r
Tptal net income
..
Disbursements—
Rentals paid
Interest on-debt...
Dividends
....
Binking funds
Miscellaneous
Total disb’rsem’ts
.Balance, surplus
6,440,000
41,960,000
10,000,000
.
g.
g-
g.
g-
6
1, 1910
1,
July 1,
Feb. 1,
July 1,
1910
1920
1884
1920
.
A D. New York, Co.’s Office.
do
;
do
Q.-M.
do
do
F. A A.
do
do
M. A N.
do
do
F. A A.
F. A A.
do
do
do
do
F. A A.
do
4o
F. A A.
do
do
J. A J.
do
do
M. A S.
do
do
J. A J.
do
do
O'
do
do
A. A O.
do
do
J. A J.
do
do
J. A J.
do
do
J. A D.
do
do
J. A D.
do
do
J. A J.
do
do
M. A N.
do
do
J. A D.
do
do A. A O.
do
do
M. A 8.
do
do
A. A 0.
do
do
M. A 8.
do
do
M. A S.
do
do
A. A 0.
Q.—F. New York, Co.’s Office.
do
do
J. A J.
do
1
do
M. A N.
Deo.
Dec.
1
g.
6
7
5.000,000
Jan.
Jan.
J. N.Y., Mil. A St. Paul RR.
do
do
J.
do
do
J.
do
do
A.
J.
J.
1H
7
7
7
7
7
7
7
7
7
7
7
7
7
7
7
7
7
7
8
7
7
7
7
5 A
A
A
A
A
A
Stocks—lout
Dividend.
by
28, 1880
28, 1880
Aug. 1,
Nov. 1,
Aug. 1,
Aug. 1,
Aug. 1,
Feb. 1,
Jan.
1885
1883
1885
1885
1885
1882
1. 1884
Sept. 1, 1898
Jau. 1, 1888
Feb. 1. 1915
April 1, 1911
July 1, 1898
July 1, 1906
June 1, 1911
Dec. 1, 1902
Jan. 1, 1887
Nov. 1, 1907
Dec. 1, 1916
Oct. 1, 1900
Juue 1, 1917
Oct.
1, 1908
Sept. 1, 1908
Sept. 1, 1908
Oct. 1, 1920
1, 1881
July 1, 1917
Feb.
Nov.. 1899
GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR.
$ A
RR., bldgs.,equip.,Ac. 68,713,559
Proprietary railroads 2,346,379
Stocks owned
Bonds owned
Advances
Bills A aects. rec’ble.
Materials, fuel. Ac...
Ouah on hand
Trustees’ sink. fund.
1879-80.
1878-9.
1877-8.
$
1876-7.
Assets—
71,038.235
1,635,660
72,373,029
100,000
940,200
28,155
917,545
778,213
1,417,514
617,500
102,690
100.000
647,800
29,401
897,761
1,332,593
1,116,443
832,411
1,513,924
932,(>05
760,706
1,723,323
73,865,795
2,580,880
*3,&di’,i’o6
27,600
1,141,710
1,366,184
1,669,796
783,000
75,121,276 77,088.350 78,686,080 84,996,065
“
$
$
14,989,024 14,988,807 14,988,697 14,988,258
Stock, common
Stock, preferred
21,475,803 t21,525,603 f21,525,523 ♦21,525,353
Bonds
31,793,000 32,793,000 3o, 106,000 36,115,000
676,292
826,120
Divs. payable in June
1,202,750
783,000
617.500
Sinking funds paid...
223,750
228,000
269,150
236,250
Real estate mortgages
2,402,559
990,038
1,151,563
Cur’t bills, p’yrolls, Ac
1,218,997
936.885
920,884
856,423
909,227
Outstdg eps., div.,Ac.
252,598
320,166
263,432
Due leased roads
193,034
790.000
864.500
Bonds unsold J
Total
Liabilities—
...
.
.
Miscellaneous
Balance income acct.
Total liabilities...
*
10,478
4,358,745 $4,177,015
75,121,276
Includes $2,900,000 bonds of
tees to secure some amount of
issued therefor.
t Exclusive of $500,000 of pref.
A Prescott stock.
,
t
Include* live bonds In sinking
77,088,350
67,516
'
4,342,772
5,988,050
78,686,080 84,996,065
proprietary roads, deposited with trus¬
Chic. & Northwest. 6 per cent bonds
stock to be issued for La Crosse Trem|w
'
fund.
\ $690,183 charged off during year on account of bad debts and
shrinkage in value of real estate.
The following table will show the total miles operated (including pro¬
prietary roade^ the gross earnings, net earnings, surphia above annual
ear since 1871-2 :
charges and dividends paid, in each fiscal ye
Surplus over Dividends
1879.
1880.
Net
Preferred.
Gross
interest,
paid.
Revenue.
1879.
1880.
rentals, Ac. pref. coin.
Miles.
Years.
Earnings.
7
88V 767s 107VI04V 1008,321 1154,632 1871-72.... 1,215
$11,402,161 $4,592,136 $2,618,325
7
3%
1,868,628
91V 837s 107V104
889,623 1131,683 1872-73..,. 1,706
4,848,475
13,775,555
89
837g 110VI 06*2 1107,042 1395,000 1873-74.... 1,923
5,432,194
1,355,082
15,631,936
518,267
92V 877r 110VI0778 1128,894 1276,552 1874-75.... 1.990
5,005,036
13,786,302
95V 893s 109VI053* 1433,365 1794,700 1875-76.... 1.992
1,179,719
5,739,442
14,013,732
98 V 94*2 110 -107
2*a
1,078,227
1393,087 1653,000
5,507,001
13,033,102
1.993
7
2,464,488
99V 91*2 115V107®8 1314,231 1716,581 1877-78.... 2,037
7,130,117
14,751,062
7
2,287,627
6.873,272
99V 96
125%-11518 1326,957 1771,314 1878-79.... 2,129
14,580,921
7
4,080.167
8,917,750
102 - 97*2 126VI183* 1716,409 1957,951 1879-80.... 2,284
17,349,349
104 V 9978 130 -1111? 1896,073 2031,000
140, 170, 372, 426, 603, 628 ; V. 29, p. 119, 168,197, 225,
(V. 27,
103 -101*a 14GV134 1558,476 1820,600 277, 357,
608,656; V. 30, p.433, 493, GOO, 048,674; V. 31,p. 94,152,.
1325,895
106V102
202, 218,428, 535, 652.)
preferred stock in February, 1879. The sinking fund bonds of 1879 are
secured by a deposit of mortgage bonds, on the new roads acquired,
at the rate of $15,000 per mile, and the terms under which these
are issued were published in V. 29, p. 277.
The prices of stock and earnings monthly have been as follows:
Prices of Stock.
* Monthly Earnings
,
11887756--960
100,000
1,000
60,562,205
prietary roads, 652 miles.
560,000
2,700,000
12,343,000
2,719,000
1,610,000
4,255,000
1,350,000
3,500,000
150,000
200,000
1,000
1,000
59,757,192
Miscellaneous
1,700,000
....
81,881
447,501
153,000
272,000
246,000
5,211,000
3,150,000
500 Ac.
500 Ac.
2,359,306
364,556
128,985
71,114
1,632,000
1,000
32,088,500
131,812
2,520,074
484,715
175,065
12,279,483
29,954,500
3,440,300
116,000
180,000
500 Ac.
1876
1871
1872
1870-1
1871-1
1871
1870
1872
1878
1878
1878
1879
7
6
7
6
7
3
1,650.000
1,103,965
14,988,257
21,525,352
971,400
676,300
1,000
1,000
1,000
1,000
1,000
1863
1865
1871
1878.
1S77
•
e
15,404,261
12,279,483
41,349,500
291,208
3,531,538
711,365
498,719
Unpaid pay-rolls, Ac.
Total liabilities...
-
.
107
500
100
100
100 Ac.
100 Ac.
100 Ac.
500 Ac.
500 Ac.
1859
1862
1859
62
24
24
15
mortgage, gold
Minnesota Valley, 1st mortgage
Rochester A No. Minnesota, 1st mortgage
Plain View Railroad, 1st mortgage
0
....
193
193
193
23
26
Menominee River, 1st mort., guar
Menominee extension, 1st mortgage, gold
Gen. cons iuort., gold, coup, or reg. ($48,000,000) 1,058
137
Winona A St. Peter, 1st mort., guar by Chic. ANW.
137
do
2d mort.,
do
do
175
do
1st M. exten, gld, land gr., «. ?.
75
Iowa Midland, 1st mort., guar. by Cbic. A N. W..
Northwestern Union, 1st
1,000
1,000
J.
J.
J.
F.
J.
6
$7,000,000
3,610,000
5,000,000
400,000
$1,000
1880
1879
1880
1879
107
do
Prior mort.
1880
1880
346
128
300
223
107
.
Bonds—Princi-
pal,When Due.
1877-8.
1878-9.
5,507,001
7,130,117
6,894,283
$
1,092,954
3,280,277
536,810
40,120
15,424
$
$
1,213,219
3,339,195
1,956,034
113,120
1,225,732
3,261,793
2,105,808
98,120
95
4,965,585
6,621,663
6,691,513
541,416
508,454
202,770
1879 80.
8,917,750
$
1,408,003
3,322,015
2,405,521
98,120
9,442
7,243,101
1,674,649
...
^08,
Pacific.—This was a consolidation June 4.
authorized, and a serin dividend of 100
per cent to the holders of Chic. Rock Island A Tac. stock. The lines were
given as follows; Chicago, Ill., to Council i,luila, Iowa, 500 miles;
South Englewood to South Chicago, 7*2 miles; Wilton, la., to Knoxville,
128; Washington, la., to the Missouri River opposite Leavenworth,
271; Edgerton Junction, Mo., to tiie Missouri River opposite Atchison,
29; Des Moines, la., to Indianola, 21V Somerset Station, la., to Winterset, 26V Newton, la., to Monroe. 17; Atlantic, la., to Lewis, 9; Lewis
to Grisswold, 14; Avoca, la., to Carson, 17; Atlantic, la,, to Audubon,
25; total owned, 1,052 miles. Leased: Bureau Junction, Ill., to Peoria,
47; Keokuk, la., to Des Moines, 162; Fort Leavenworth, Kan., to
Leavenworth, 2; Avoca, la., to Harlan, 12; Guthrie Station to Guthrie
Centre, 15; Cameron, Mo., to Kansas City, 54; Mount Zion Station, la.,
"to Keosauqua, 4V total leased, 296; total owned and leased,
1.348 miles.
This company includes the former Mississippi A
Missouri Railroad of Iowa, which was foreclosed under mortgage In
1866. The Illinois and Iowa roads were consolidated August 22, 1866,
under the present title, and the main line was extended to Council
Bluffs June, 1869. The Iowa Southern A Missouri Northern was form¬
erly the Chicago A Southwestern, and was foreclosed and purchased
by this company, and consolidated June, 1889. The fiscal year ends
March 31 and the last report was in V. 30, p. 673.. The mileage, earn¬
ings, Ac., have been as follows for six years past;
Chicago Rock Island dk
188J, with $50,000,000 stock
Years.
Gross
Net
707
Earnings.
$7,342,190
6,917,657
Earnings.
$3,687,029
3,349,364
1,003
1,231
1*348
7,895,870
9,409,833
11,001,002
Miles.
677*4
3,511,356
4,329,960
5,205,110
Dir.
p. ot.
g
8
g
8
S
^
DESCRIPTION.
Chic. St. Louis <& y. 0.—1st M. (N. O. J. A G. N.)
1871
$1,000
1871
1856
1860
1,000
1,000
750.000
224
(N. O. J. A G. N.)._
1854
500 Ac.
185
567
567
1865
1877
1877
100 Ac.
(for $30,000,000)
Chic, St. Paul AfMinn.,1st mort., gold, coup
do
do
1. gr. M., inc., coup. (2d on road)
ono 000
f
594
<
95
22
500 Ac.
1,000
1,000
1869
Cincinnati Hamilton <& Dayton—Stock
2d
1865
do
Consol, mort. (for $3,000,000), sink, fund 1 p. c..
Cin. Ham. A T. (Junction) RR., 1st mort., guar...
Cincinnati Indianap. St. Louis & Chicago—Stock..
Ind. A Cin. of 1858, 1st mort
60
60
coups
Chicago, 1st mort., gold
1876-7.
1877-8.
fi?
,500
3,793,584
Disbursements—
Rentals paid
Interest on debt
Taxes
Dividends t
Sinking fund
Legal expenses
$
125,000
125,000
090,000 * 1,002,325
209,747
247,400
$
2,097,980
40,000
27,291
Miscellaneous
Balance, surplus
431,482
1,078,384
40,000
34,827
\ 557,148
108,500
2
7
1,600,000
*7*
2,879,100
187,000
499,000
1,545,800
1,000,000
7
10
7
7
6
7 g.
1,000
1,000
1,000
1,000
:
1878-9.
1879-80.
5,588,058
$
5,945,388
$
$
135,037
1,078,110
295,841
2,097,988
$
125,000
1,008,580
218,155
1,993,085
Where
pal,^When Due.
Payable, and by
Whom.
Payable
5 tocks—Last
Dividend.
F.
A.
J.
A.
M.
F.
M.
J.
A A. N. Y., Farm . L. A T. Co. Aug. 1, 1901
1891
A O.
A J. New York, Co.’s Office.
July 1, 1886
A 0.
do
do
Oct. 1, 1890
A N.
do
do
Nov., ’80 A’84
A A.
Feb. 1, 1886
do
do
A N.
Nov. 1, 1897
do
do
A D.
Dec. 1, 1907
do
do
J.
J.
M.
M.
J.
A.
A.
J.
A
A
A
A
A
A
A
A
Jan. 20,1881
J.
D.
-
June 1,
1930
N. N. Y., Corn Exch. Bank.
N.
do
do
J. N.Y., R. P. Flower A Co.
O. N. Y., Metropol. N. Bk.
O.
do
do
May 1, 1918
May. 1898
Jan. 1, 1930
April 1, 1919
April 1, 1919
J. N.Y., R. P. Flower A Co.
July 1, 1901
M.
A.
J.
A.
J.
A S. Boat., Treasurer’s office.
A O. N. Y., Winslow, L. A Co.
do
do
A J.
A O.
do
do
A J.
do
do
Sept. 1889
Oct., 1880
July 20,1885
Oct., 1905
6 A 7
7
A.
F.
M.
J.
J.
M.
M.
A
A
A
A
A
A
1,120,000
"
O. N. Y., Arner. Ex. Bank.
A.
do
•
do
S.
do
do
D.
do
do
J
do
do
N.
do
do
& S. N.
Y., Am. Escli. N. Bk.
Jan., 1903
April, 1888
Feb., 1897
Sept, 1, 1883
Dec., 1892
J’anJ82,’87,’92
May 1, i£20
Mcb., 1901
[
-
41,117
34,420
2,202,121
2.303,980
July 1,1879, operated from Pekin, Ill.,
to Mazou Bridge, Ill... 94 miles, of which 6 miles leased.
Chartered in
1859 and opened in 1876.
Receiver appointed in June, 1877. Sold
under foreclosure June 30, 1879. Still in hands of Receiver.
Gross
earnings in 1878-79, $250,845; net, $92,540. Capital stock, common,
$788,000, and 7 per cent preferred, $38,000; floating debt about
$100,000. Construction and equipment, $3,044,263. (V. 28, p. 41, 68,
199; V. 29, p. 328; V. 30, p. 14; V. 31, p. 152, 381, 405, 453.)
Chicago St. Louis <6 New Orleans— April 30, 1879, owned from New
Orleans, La., to Cairo, Ill., 549 miles; branch: Kosciusko Junction,
Mies., to Kosciusko, Miss., 18 miles; leased, 5 miles; total operated,
572 miles. This company was formed November 8, 1877, by the con¬
solidation of the New Orleans Jackson A Great Northern and the
Central Mississippi. The N. O. J. & G. N. road had been sold in fore¬
closure March 17,1877, and the Mississippi Central was sold August 23,
1877. This company is controlled by the Illinois Central, which holds
61,000 shares of the stock, $1,600,000 of the first mortgage bonds and
$5,023,000 of the second mortgage bonds. The stock authorized is
$10,000,000, .all of which has been issued.
Of the first mortgage
bonds, $1,199,000 are a prior lien on that portion of the road in Ten¬
The Chicago St. Louis & New Orleans 2d mortgage bonds are
nessee.
incomes until Dec., 1882, after which they draw interest at 6 per cent.
Of the Mississippi Central second mortgage, $500,000 are claimed to
have been paid and are disputed by the present company, which .has
brought suits for the surrender and cancellation of said bonds. Earnings
and expenses for two years ago were as follows, viz.: Gross earnings in
1877, $3,100,595, net earnings, $887,667; in 1878, gross earnings,
$2,819,018, net earnings, $818,723.
For 18/9 no figures are given.
—(V. 28, p. 277, 502; V. 29, p. 406; Y. 30, p. 248, 465; Y. 31, p. 191,
216, 405.)
Chicago St. Paul Minneapolis & Omaha.—This was a consolidation
July, 1880, of the Oliic. St. Paul & Minneapolis (formerly West Wisconin), the North Wisconsin, and the St. Paul A Sioux City. See statement
in V. 30, p. 675. The Ch. St. P. A M. first mortgage is a second on the
lands; the land mortgage a second onroad; but no foreclosure can be
had except on default on first mortgage.
The lands mortgaged are
about 500,000 acres, and the total lands owned considerably more.
(V
30, p.675; V. 31. p. 20.) The North Wisconsin was in progress from
Lake St. Croix t o Bayfield, Wis., 165 miles. For each mile built $10,000
in bonds and $15,000 in stock were issued.
(V. 30, p. 248.)
The St.
Paul & Sioux City was a consolidation in August, 1879, of the St. Paul !
A Sioux City and the Sioux City A St. Paul, forming a main line from St.
Paul to Sioux City, 270 miles. With extensions in progress, the company
had 460 miles of road, with a single mortgage of $4,600,000, or $lo,000
per mile. All the old securities ot both roads were retired with the new
stock ainL bonds. See the status of that Compaq in the remarks of;
June Sl'lTi.KMENT, 1*80. The St. Paul Still water A Taylor’s Falls
was;
consolidated with this company, also the Worthington Sioux Falls A Iowa j
1876-90.
*8*
1,000
500Ac.
When
i
477,000
3,500,000
494,000
1,224,000
2,500,000
4,000,000
500 Ac.
ances and contracts to convey lands amounted to 80,050 acres, for
$747,478, the average price received being about $8 62*2 per acre. The
amount of interest and premiums received during the year was $75,000.
The bills receivable, after deducting those canceled, have increased,
until'they stand (-on March 31, 1880) at $1,203,025, an increase during
the year of $377,885. There has been remitted to the Treasurer of the
Company at New York, from the sales and collections, a total sum of
$350,000. The taxes paid during the year on lauds unsold November 1,
1879, were $39,554. The number of acres left unsold is now' a¥out
185,000, and should another good crop be the result of this year’s hus¬
bandry, the great bulk of the more desirable lands now remaining will
undoubtedly be disposed of this season.” (V. 29, p. 15, 489, 608, 631;
Y. 30, p. 221, 356, 465, 544, 566, 590, 616, 663, 673; Y; 31, p. 228,
453, 558.)
—
8
1858
1867
1873
1862
1867
1880
1871
Total
Increased by
Chicago Pekin <£• Southwestern
6g.
1,000
3,021,500
3,793,584 §5,588,058
5,954,388
Chic. A Southw. bds. t ’77, 10; ’78, 8; ’79, 9*2; ’80, 10.
X Represents Pacific Hotel stock and bonds and connecting railroad
and other bonds, and disappears in following
year.
§ In the report Iowa Southern A Mo. Northern stock, held in trust—
$4,230,090—is given, but is not included here.
The last annual report, in the Chronicle, V. 30, p. 073, had the follow¬
ing as to the land grant: “ The report of the business of this office for
the fiscal year ending March 31, 1880, shows that the regular convey¬
*
6
6 g.
6 g.
6
6 g.
1873
56
follows
*134
1,000
1,000
t
Income and disbursements for four years are as
J
1875
1865
20
20
194
..
1,000
100
60
98
194
90
151
Cin. A Ind., 1st mortgage
2d M., guar., funded coupons
do
1st mort,, Cin. Ind. St. L. A Chic, (for $7,500,000)
Cincinnati Lafayette A
500 Ac.
101,520
6,500,000
Chicago (6 TTejtf. Michigan—Stock, new
1 sf. mortgage, New Ruff. to St. .To
Ind’polis Cin. A Laf., mort. and fund
Equipment bonds, registered
1,000
1880
1878
1878
1880
1879
1879
180
180
60
mort., on new lines $ Ior *7’uuu’uuul
St. Paul Stillwater A Taylors’ Falls; 1st mort
do
do
do
Income bonds.
do
7,253,000
13,755,000
9,755,000
7,600,000
2,800,000
2,018,000
8 00,000
4,600,000
2,400,000
450,000
100
100
Consol, mortgage
North Wisconsin, 1st mortgage
St, P. A Sioux City, mort., gold,)
1188773--40596.,
1875-6
1,000
1,000
Chic. St. Paul Min'polis cC- Omaha—Common stock..
•
Preferred stock
8
8
8
8
7
8
7
6
2,941,000
1,500,000
345,000
1,996,000
3,468,000
1,000
185
mortgage, (Miss. Central)
2d mortgage,
do
($500,000 disputed)
Chic. St. Louis A N. 0. 1st mort. (for $13,000,000)
do
do
2d mort. (for $8,000,000)..
Rate per
Cent.
$1,000,000
64
206
mortgage
2d mortgage,
1st
Outstanding
Amount
70
Chicago Pekin & Southwestern—1st mortgage
Bonds—Princi¬
INTEREST OR DIVIDENDS.
•
Date Size, or
of
Par
of
Road. Bonds Value.
Miles
For’explanation of column headings, Ac., see notes
on first page of tables.
Vol. XXXI
Immediate notice of any error discovered In these Tables.
Subscribers will confer a great favor by giving
2d
AND BONDS
RAILROAD, STOCKS
XXIV
and Covington A Black Hills. The St. Paul A Sioux City had lands unsold
Jan. 1,18/9, of 560,680 acres; the Sioux City A St. P. had 439,858 acres.
In Jan., 1880, 200,000 acres of land were sold to English capitalists at
$6 per acre. (V. 30, p. 118, 193, 223, 249, 264, 299, 409. 494, 625, 648,
651, 675 ; V. 31, p. 88, 281, 535, 606, 625.)
Chicago & West Michigan.—Dec. 31. 1879, owned from New Buffalo
Michigan, to Pent water, Mich., 170 miles; brandies—Holland Junction
to Grand Rapids, 24
total operated, 245
fiiiles; B. R. Junction to Big Rapids, 51 miles;
miles.
Organized as successors of Chicago A
Michigan Lake Shore January 1, 1879, the C. A M. L. S. having been
sold in foreclosure November 16, 1878.
The stock is $6,500,000.
Original company organized in 1869 and main line opened in 1872.
Default July 1,1873, and receivership from November 11, 1876, to
date of reorganization. Earnings in 1879, $654,383, and expenses,
$541,556; profits, $112,826; interest paid, $37,359, and expended for
construction and equipment, $97,336. (Y. 27,p. 227, 538; V. 30, p. 270.)
Cincinnati Hamilton & Dayton.—March 31, 1879, owned from Cin¬
cinnati, O., to Dayton, O., 60 miles; leased—Dayton A Michigan, Dayton
to Toledo, 141 miles; Cincinnati Hamilton A Ind., Hamilton to In¬
dianapolis, 98 miles ; Cincinnati Richmond A Chicago, Hamilton, O., to
Indiana State line (and leased road), 42 miles; total operated, 341
miles; each lease reported separately.
Chartered in 1846 and road
opened in 1848.
Defaulted on guaranteed C. II. A Ind. interest in
1877. Settlement by arbitration made as per Chronicle, V. 30,.p. 116,
by which interest is to be paid hereafter and past-duo coupons are
funded into preferred stock.
In March, 1880, it -was reported the
Clew Col. Cin. A Ind. company purchased a majority of the C. H. A D.
stock. Annual report in V. 30, p. 598.
Gross
Net
Paym’ts from Net Earn’gs^ Balance
Years.
Earnings.
Interest.
Earnings.
Taxes.
Credit.
$1,171,998
$479,203
$56,440
$154,430
$248,333
1,128,355
521,770
55,873
158,503
307,334
1,147,753
470,176
53,044
162,430
254,702
946,921
312,749
48,900
185,640
78,209
936,433
374,468
47,999
207,544
118,925
907,211
369,350
36,707
191,450
141,163
950,624
437,160 218,160
26,176
192,823
Earnings for five years past were as follows, including all the roads
operated:
Years.
r
Miles.
Gross
Earnings.
$2,818,116
341
341
341
341
341
341
,2,875,774
2,431,874
2,362,892
Net Earnings.
$932,190
-
853,350
558,062
769,666
2,282,572
739,572
2,578,816
836,050
Payments in 1879-80—Interest, $152,649; dividends'^. A M.),$131,921.
—V, 29, p. 15, 197; V. 30, p. 116, 322, 465, 536, 598, 624, 667; V. 31,
p. 357, 453, 483.)
Cincinnati
Indianapolis St. Louis d* Chicago.—June 30, 1880, owned
Lafayette., Ind., 175 miles; Lawrencoburg branch,
from Cincinnati to
Smiles; Harrison branch (partly owned), 7 miles; Fairland F. A M.
Road, 38 miles; and Cincinnati Lafayette A Chicago (by stock), 75 miles;
total operated, 300 miles. Formerly the Indianapolis Cincin. A Lafayette,
which was
nati and the
a
consolidation
in
1876
of
the
Indianapolis A Cincin¬
Lafayette A Indianapolis railroads, the company taking a
perpetual lease of the Cincinnati A Indiana Railroad. On August 1,
1876, a receiver was appointed, and the road was sold in foreclosure
Feb. 2,1880, and this company organized. Of the $7,500,000 new bonds
$6,885,000 was reserved, into which all of the old bonds prior to the
Indianapolis Cin. A Laf. 7s of 1869 could be exchanged at par. The
other securities were provided for as follows: The 7s of 1869 received 70
per cent of their face in new stock, and the funded debt 7s, or pre¬
ferred stock, 40 per cent.* This left a balance of new stock of $2,029,045,
which, with the balance of new bonds, $615,000, was offered as fol¬
lows: To the 7s of 1869, 10 per cent in bonds and 30 per cent in stock
for 10 per cent cash; to the- funded debt 7s, 20 per cent bonds and 60
per cent in stock for 20 per cent cash ; to the common stock, 2 per cent
bonds and 6 per cent in stock for 2 per cent cash. The
company owns
$1,767,000 stock and $1,120,000 2d mortgage bonds of the Cincinnati
Larayette A Chicago KR., operated by it. First annual report of new
company in Y. 31, p. 356. Operations and earnings for five years past
were as
follows:
<•
Years.
Miles.
194
194
194
194
Passenger.
Mileage.
22,113,531
Freight (ton)
19,244,431
18,971,743
17,689,617
38,800,669
41,000,163
Mileage.
52,465,909
Gross
Net
Earnings.
Earnings.
$1,637,061 $673,098
1,311,210
490,810
1,309,087
494,338
50,225,000'
1,342,701
507,920
300
23,544,228
76,088,352
1,761,242
491,487
-(V. 27, p. 172, 303, 35 1, 383; Y. 28, p. 302, 401, 526; Y. 29, p. 18,
95, 277, 302, 405, 432, 159, 538, 563, 680; Y. 50, n. 168, 192, 624; V.
31, p. 259, 350, 510.)
RAILROAD
December, 1880. J
Subscribers will confer
a
Miles
Date
of
Scc., see notes
of
Road. Bonds
148
36
36
90
40
188
138
Cincinnati d Muskingum Valley—1st mortgage
Cin. Richmond d Chic.—1st rnort., guar. C. H. &D..
2d mortgage, guar, and owned by C. H. & D
Cin. Richmond d Ft. W— 1st mort., gold, guar
Cincinnati Rockport d Southwestern—1st mortgage
Cincinnati Sandusky d Cleveland—Stock
Preferred stock
1870
1866
1869
1871
1878
or
par
Value.
Amount
Outstanding
1.000
500
50
50
....
m
..
1st mortgage
Cleveland d Marietta.—
Cleveland Mt. Vernon d Del.—1st mortgage, gold—
1st mortgage* Columbus Extension
Income mortgage
Cleveland d Pittsburg—Guaranteed stock
4th mortgage (now 1st)
Consolidated sinking fund mort. for $5,000,000..
a/i
Cleve. Tustar's Val. d
1 nt. mcivtfHurp.- nfiw.
ninmpnt;
•
•
80
48
114
471
138
202
390
390
80
67
67
35
2d mortgage
Cincinnati Wabash d Michigan—New stock
Cleveland Columbus Cincinnati d Ind.—Stock
1st mortgage (C. C. Sc C. RR.) $25,000 a year
do
(Bel. & Ind.) exeb. for new mort...
do
C., C., C. & 1. sinking fund
Consol. M. for $7,500,000 (sink, fund 1 per ct.)
Cleveland d Mahoning Valley—Stock
1st mortgage, extended
m
hftTidfl
Wheeling—1st M., (L.S.&T.V.)
145
•
•
•
•
•
•
•
•
225
199
199
ioi
1867
1871
1872
1,000
1,000
I860
100
500
....
1864
1874
....
1873
1876
1870
1870
1871
1875
.
1,000
630,000
500,000
(1)
1,350,000
950,000
1,000
1,000
500 Sic.
1,000
1,000
1,000
Jan.
39
-
Wayne Sc Chic.; total operated, 91 miles. Chartered in 1853 and
opened in 1866. Leased for 99 years to Grand Rapids Sc Indiana; in¬
terest is guaranteed by the lessees and by the Pennsylvania Company
and Cincinnati Hamilton Sc Dayton Company, jointly. Gross earnings
in 1879, $322,066; ne t,$82,532.
Total interest and rental liability,
$156,677. Loss to guarantors, $74,144. Capital stock. $2,500,000.
Total advanced by guarantors, $505,636. (V. 29, p. 299.)
Fort
V
&
Sc
Sc
Sc
Sc
&
&
&
&
Until 1899
May, 1899
June 1,1914
(»)
Aug. 1, 1893
Sept., 1906
Jan., 1890
Cleveland, Office.
Y., Ward, C. &Co.
S.
J.
N. Y.,
~
Union Trust Co.
Y., Winslow, L. Sc Co. Jan. 1, 1900
M. & S.
St J. N.
N.
Jan. 1, 1901
Jan. 1, 1905
Dec. 1, 1880
d«
do
do
do
....
Q.-M.
1902
N.
A.
J.
Aug. 1, 1900
Sept. 1, 1897
Dec. 1, 1890
April 1, 1901
Feb. 1, 1880
June,’75 to ’84
N. Y., U. 8. Trust Co.
do
do
do
do
do
do
New York or London.
A.
D.
J.
N.
D.
N.
7
Y., Farm. L. & T. Co.
Jan., 1892
do
do
do
do
do
do
J. & J.
M. Sc N.
J. St J.
Nov.
Jan.
1, 1900
1, 1913
Cleveland, Ohio.
Feb.
33
-
3814- 34
34 - 2734
21
2712- 24^
3078- 27
32
25%
27
33
-
19i2
25
24
-
22
2914- 2512
33 - 2414
27
-
23%
27
-
Monthly Earnings.
-Prices of Stock.
3 879.
1878.
33*2
-
25
2814- 23
3434- 28
33 - 29%
24L2
Sept 4112- 3112
Aug. 35
Cincinnati Richmond d Fort Wayne.—Dec. 31,1879, owned from Rich¬
mond, Ind., to Fort Wayne, Ind., 83 miles; leased, 8 miles of Pittsburg
June, 1921
Jan. 1, 1908
1872
Nov. 1, 1880
do
do
Sc N.
do
do
& A.
do
do
& 8.
Sc D. N. Y., Union Trust Co.
N. Y., U. S. Trust Co.
& O.
do
do
& J.
7 g.
7 g.
1877.
reorganized as Cincinnati & Zanesville March 11, 1864. Sold again Mar.
Dec. 10,1869, and reorganized as at present, leased for 99 years from
Jan. 1,1873, to P. C. & St. Louis, lessees to pay all expenses and Inter¬ Apr.
est, any excess of earnings to inure to the lessors. Gross earnings in May
J’ne.
1879, $374,666; net earnings, $110,142. Interest paid, $105,000. Sur¬
July
plus, $5,142. Capital stock, $3,997,320. (V. 30. p. 382.)
Richmond d Chicago.—March 31, 1879, owned from
Hamilton, O., to Indiana State Line, 36 miles; leased, Richmond,
Ind., to Ohio State Line, 6 miles; total operated, 42 miles.
Char¬
tered as Eaton Sc Hamilton in 1847 and opened in 1863. Reorganized
May 3, 1866, and leased in perpetuity from February, 1869, to C. H. &
D. Co., the lessors to receive all surplus after expenses and bond interest.
Gross earnings in 1879-80, $214,556; net, $59,432; interest liability,
$43,120; balance, $16,312.
Capital stock, $382,600; funded debt,
$625,000; total (cost of property), $1,007,600. (V. 29, p. 15.)
Jan., 1901
July, 1895
Jan. 1, 1889
1,397^000
180;000
-
B./lHt. rwari.trusrf'.
Cincinnati
F.
J.
J.
M.
7 or 6 g. J.
M.
3*2
7 g. F.
7
M.
J.
7
6
7
7
7
Dividend.
Whom.
Boston, Office.
M.
F.
M.
J.
A.
J.
7
7
7
1%
Stocks— Last
Payable and by
700,000
urior lien
Cincinnati d Muskingum Valley.—Dec. 31,1879, owned from Morrow,
O.,to Dresden Junction, 0.,148 miles. Chartered as Cinn. Wilm. <feZanes.
in 1851 and opened in 1857. Sold under foreclosure Oct. 17,1863, and
Where
-
pal,When Due.
J. Sc J. New York, Moran Bros.
J. & J. N. Y., Winslow, L. & Co.
do
do
J. & J.
J. Sc D. N.Y., Winslow, L. Sc Co.
J. & J. N. Y., Nat. Excli. Bank.
2*2
1,407,000
2,180,000
2d mortgage, new
E. Sr.
7
7
7
7 g.
6 g.
10s.
3
6
7
7
7
7
Bond 8—Prino)
OR DIVIDENDS.
Pay’ble
11,244,350
1,096,000
2,561,000
500
•
When
Cent.
669,000
50
...
•
125,000
408,000
3,000,000
2,804,000
2,759,200
50
500 &c.
500 &c.
500 &c
1862
1867
1873
• •
14;99i;800
1,000
1,000
1869
Rate per
$1,500,000
560,000
65,000
1.800,000
266,500
4,005,750
429,037
750,000
350,000
1,100,300
2,000,000
651,000
3,000,000
$1,000
1,000
1,000
1588774-596. 81
Sandusky City & Ind
2d mortg. Cine., Sandusky Sc Cleve
Cincinnati d Springfield—1st mortgage, guar
ao
ami
XXV
INTEREST
Size,
1866
1852
Mortgage bonds, Sandusky, Dayton- & Cincinnati
N#vw bonds
Niles Sc New Lisbon,
BONDS
AND
great favor by giving immediate notice of any error discovered in these Tables.
DESCRIPTION.
For explanation of column headings,
on first page of tables.
STOCKS
-
Oct.. 49 %- 3712
Nov. 42 ig- 35
Dec. 39 - 3178
1879.
1880.
1880.
7714 $238,234 $315,536
254,232 309,115
75
44
40
77
233,780 302,787
74
4814- 4012
230,866 281,650
55 - 443g 7614- 61
264,482 303,906
5318- 48
7212- 62
267,894 334.742
5312- 50
73 - 6312 312,705 400,332
55
48^8 73 - 70ie 366,629 434,164
595e- 50ig 72V 6812 413,436 410,103
71
56
426,629 444,104
827e- 70
8512- 70
85 - 7812 369,646 422,123
83 - 75
380,428
48is- 34%
46ig- 3912
-
8II282Og8OI480 -
-
-
337e- 30
34L3- 3112
The last annual report was published in the Chronicle, V. 30, p. 355,
......
1878.
1877.
1876.
$
745,203
102,696
1879.
$
Receipts—
Net earnings
Rentals, interest, Sec.
$
693,446
181,445
$
514,591
Total income
Disbursements—
Interest on debt
874,891
664,011
$
426,878
420,087
175,232
140,020
117.014
149,420
$
428,383
171,974
To vpft
-
847,899
$
982,748
83,912
1,086^410
425,180
off.
2,319
103,744
*66,429
374,770
47,864
Balance, surplus.
272,215
def. 41,843
221,363
121,582
Dividend No. 15
Accounts charged
In 1878 $21,675 discount on bonds, and in 1879 paid Wabash Pool.
Southwestern.—Dec. 31,1879,'owned from RockChartered in 1871 and road opened —(V. 28, p. 301; V. 30, p. 248, 322, 355,425, 518; V. 31, p. 38.)
in 1878. Gross earnings in 1878, $19,873; net, $7,634. Capital stock,
Cleveland dMahoning Valley. -Dec. 31,1878, owned from Cleveland,
$400,000.
O., to Sharon. Pa., 81 miles; Niles, O., to New Lisbon, O., and branches,
46 miles; total operated, 127 miles. Chartered in 1848 and opened in
Cincinnati Sandusky d Cleveland.—June 30, 1879, owned from San¬
1851.
It was leased to Atlantic & Great Western in perpetuity from
dusky, O., to Dayton, O., 154miles; branch, Carey to Findlay, 16 miles; October 1,1861. The Receiver of the Atlantic & Great Western refused
leased, Columbus Springfield & Cincinnati, 44 miles; total operated, 214 to
miles, less the division between Springfield A Dayton, 24 miles, which is to operate part (43 miles) of the leased road. A new lease was made
the reorganized company, New York Pennsylvania Sc Ohio, at
leased to and operated by the Cleveland Columbus Cincinnati Sc Indian¬
$357,000 till January, 1885, and $412,000 per year afterward. (V. 30,
apolis.
*
Cincinnati Rockport d
port, Ind., to Jasper, Ind., 38 miles.
Traffic Statistics.
Gross
Net
,—
p.
,—Lease Rentals.—>
Available
Earnings.
$787,671
Earnings.
Received.
Paid.
Revenue.
$225,895
$70,024
$80,000
$215,899
791,891
655,421
647,202
Years.
214,983
124,744
112,284
110,236
71,186
81,124
80,000
65,942
40,000
205,044
109,950
113,963
140,105
655,300
65,206
67,621
69,869
The rental received from Cleveland Columbus Cincinnati Sc Indianapolis
Railroad is 35 per cent of gross earnings, and that paid to Columbus
Springfield Sc Cincinnati Railroad Company (formerly $80,000 a year)
has been reduced one-half for three years. Six coupons on 2d mortgage
bonds were funded from June, 1877. The preferred stock has a lien by
deposit of old bonds in trust. The receiver, after a three years’ posses¬
sion of the property, was discharged January 1880.
(V. 28, p. 145; V.
29, p. 197, 382, 406; Y. 30, p. 144, 168,192; Y. 31, p. 179, 405, 429.)
Cincinnati d Springfield.—Dee. 31,1879, operated from Dayton, O.,
to Springfield, O..80 miles, of which 24 miles were
nati San. <fe Clev. RR. The whole is leased and operated by Clev. Col. Cin.
& Ind. Co., giving them a line into Cincinnati, and depot accommoda¬
tion.
Lessees apply any excess over rentals to C. & 8. interest, which
is guaranteed on the first mortgage, one-half by the lessees and one-half
leased from Cincin¬
by L. Shore & Mich. Southern.
Stock is $1,100,000.
Cincinnati Wabash d Michigan.—Dec. 31,
1879, owned from Goshen,
Ind., to Anderson, Ind., Ill miles. Road, as now existing, opened in
May, 1876. Transferred to trustees Jan. 1,1878, and sold Nov. 5,1879,
to said trustees, for account of bondholders. New company organized
April, 1880, under name of Cincinnati Wabash Sc Michigan Railway.
New stock, $3,000,000, to be issued.
(V, 29, p. 382; V. 30, p. 433.)
Cleveland Columbus Cincinnatid Indianapolis— Dec.31,1879,owned
Cleveland, O., to Columbus, O., 138 miles; Galion, O., to Indian¬
from
494.)
Cleveland d Marietta.—June 30,1879, operated from Marietta, O., to
Canal Dover and branch, 101 miles. This company was organized a8
successor of the Marietta Cleveland Sc Pittsburg.
Bonds for $1,000,000
are
authorized, to build 24 miles to Canton, O.
Cleveland Mount
Vernon d Delaware.—Dec.
Hudson, O., to Ccflumbus, O., 144 miles; leased, Massillon to Clinton,
12 miles; total operated, 156 miles. Annual liabilities—Rental, $20,000,
and bond interest (7s, $2,300,000), $161,000. This amount is demanded
from the Pennsylvania Co. (lessees), but a readjustment
the lessees. Default was made July, 1874, and coupons
one-half of coupons
rentals
paid reduced the company’s income so that no further dividends
paid until February, 1880. In August, 1880, dividend passed, on
account of the exhibit shown - in V. 31, p. 38. The sinking fund pro¬
vision of consolidated bonds may be canceled at option of holders. In
March. 1880, it was reported this company purchased a majority of the
C. H. & D. stock. The prices of stock and monthly earnings have been:
were
is claimed tty
due then and
from Jan. 1,1875, to and including July 1, 187?,
to Jan. 1, 1885, and the remaining half to be p%id;
July, 1877, and negotiations have never been concluded.
Foreclosure suit begun June, 1880,and Mr. G. A. Jones, of Mt. Vernon,
O., appointed Receiver in Sept.. 1880. Common stock, $1,318,129; pre¬
ferred, $451,450. Net earnings in 1878, $64,971; in 1879, $27,061.
-(V. 28, p. 400; V. 30, p. 271, 600; V. 31, p. 259, 357.)
were
postponed
but this failed
Cleveland d Pittsb.—Dec. 31,1879, owned from Cleveland, 0.,to Roch¬
ester, O., 124 miles; branches—Bayard, O., to New Philadelphia, 33
miles; Yellow Creek to Bellaire, 43 miles; leased, Rochester to Pittsburg
(P. Ft. W. Sc C.), 26 miles; total operated, 226 miles. The property yraB
leased for 999 years from Dec. 1, 1871, to Penn. RR. Co., and lease trains:
ferred to Penn. Co. May 1,1872. Rental, 7 per cent on existing capital
and $10,000 per year for company expenses, the lessees assuming all lia¬
bilities. The terms of the lease were 10 per cent, but the old stock was
subsequently ■ converted into 7 per cent by an increase in amount.
Operations and earnings for five years past were as follows:
Years.
Miles.
226
226
226
226
226
Passenger
Mileage.
17,611,298
19,844,913
15,640,607
14,853,524
16,624,524
apolis, Ind., 203 miles; Delaware, O., to Springfield, O., 50 miles; leased,
Cincinnati Sc Springfield Railroad, 80 miles; total operated, 471 miles. -(V. 28, p. 41, 300.)
Cleveland Tuscarawas
This was a consolidation in April, 1868, embracing the C. C. Sc C. and the
Bellefontaine railroads. The company paid dividends prior to 1875, but
since then the large decline in rates for through freight and the heavy
(V. 31, p. 94.)
31, 1879, owned from
Freight (ton)
Mileage.
116,819,297
108,664,100
133,991,706
143,114,623
164,675,804
Gross
Net
Div.
Earnings. Earnings, p.c.
$2,629,037 $1,243,627
7
2,282,030
890,582
7
2,330,834
1,039,172
7
966,112 -7
2,272,167
2,418,516 1,151,780
7
Val.d Wheel.—Dec. 31,1879, owned from Black
River, O., to Uriehsville, O., 101 miles. Chartered as Lake Shore Sc Tus.
Val. in 1870 and opened in 1873. Sold under foreclosure Jan. 26,1875,
and reorganized under
57 miles. The new first
present title.
Is being extended to Wheeling,
mortgage is a prior lien by
consent of all the
mortgage bondholders. Gross earnings in 1878, $474,525; in 1871),
$446,749. Net earnings in 1878, $114,462; in 1879, $162,319. Interest
liability, $244,850 per annum. Capital stock, $1,055,950. (V. 30, p.
272, 297-)
RAILROAD STOCKS
XXVI
Subscribers will confer a
great favor by giving
immediate notice of any error
Miles
Date
Size, or
976778811
explanation of column headings, &o., see
on first page of tables.
notes
Colebrookdale—1st mortgage
Colorado Central— 1st mortgage, new
Columbia <£ Port Deposit—1st mortgage
Columbus Chicago <& Indiana Central—Stock
Central..
1st M. (consol.) Columbus, Chic. & Iud.
do
Chic. &G’tEast. (Chic, to Logansport). ..
Col. <fc Ind’polis Cent. (Col. to lnd’s, Ind)..
do
Union & Logansp’t (U’n City to Logansp’t)
do
Tol. Logansp’t & Burl.(Logansp. to Ill. line)
do
do
Col.<fc Iud. com.,lst&2d pf.(Col. to U’n City)
do
Cinn. & Chic. Air Line(Riohin’d to Logans.)
2d M. Col. & Ind’polis Cent. (Cov. to Union City)..
Chic. & G’t East, construe. (Chic, to Rick’d)
do
do
Columbus, Chicago & Ind. Central
do
Income conv. do
Income (Toledo, Logansport
Unisn Trust Co. certificates
1st
1878
39
588
588
117
208
93
61
102
107
208
224
537
1868
1879
Par
Value.
$100&c.
1,000
...
100
1868
1,000
1863
1864
Hocking Valley—Stock
mortgage, sinking fund bonds
mortgage, Logan & Straitsville Branch
Concord— Stock
Concord & Claremont—Bonds
Concord <& Portsmouth— Stock, guaranteed
Connecticut Centred— 1st mortgage for $400,000...
Connecticut <& Passumpsic—Stock
New mortgage (for $1,500,000)
50
1867
1870
1872
1871
1875
500 &c.
1860
1,000
1,000
1,000
1,000
1,000
50
50
1874
500 &c.
100
1875
146
110
Notes, coupon
1873
1871
ioo
100 &c.
100 &c.
earnings (30 per cent rental),
Payable
6
7 g.
7
....
7
4
7
7
7
7
7
510,500
372,000
113,000
821.000
23,200
120,000
57,545
1,500.0u0
2,030,150
1898
Aug.’I,*
1892
F.
A.
J.
J.
M.
F.
April, 1908
..........
7
8,995,000
June 1,
A. & 0.
Various N. Y., A. Isolin & Co.
do
do
J. & J.
do
do
A. & O.
do
do
F. & A.
do
do
J. & J.
do
do
Various
do
do
M. & N.
do
do
J. & J.
F. & A.
F. & A.
F. & A. N.Y., St. Nicholas N. Bk.
7
7
7
7
7
7
7
7
7
7
715,000
1874-5960.
Phila.. Co.’s Office.
& D.
& D. Boston, Treas.’s Office.
J.
J.
Stocks—Last
Dividend.
Whom.
....
....
2,632,000
1893 & ’95
Nov., 1904
Dec., 1905
Feb., 1884
Dec., 1883
1886 to ’90
Ncrv., 1904
Fel)., 1890
....
1,500,000
300,000
730,000
1,000,000
2,468,000
1,786,200
2i5
7
5
7
302,000
1,500,000
500,000
350,000
2,175,700
1,409,500
123,000
Aug., 1880
1, 1897
July 1, 1880
Jan. 1, 1892
Sept. 1, 1901
Aug. 1, 1905
Dec. 10,1880
Columbus Treasury.
Q.—M.
M. & S. N. Y., Am. Exch. N. B'k Sept. 1, 1890
& A.
Columbus, Office.
& Ou rN. Y., St. Nich. Nat. B’k
do
do
& J.
do
do
& J.
<fc 8. N. Y., Union Trust, Co.
& A. N.Y., St. Nicholas N. Bk.
Oct.
Boat.&Manchester.N.H. Nov. 1. 1880
1894
Concord, N. H.
J. & J. Bost.&Manohester.N.H. Jan. 1, 1881
Oct., 1895
A. & O.
Aug. 2, 1880
F. & A.
Boston, Office.
M. <fc N.
....
3^
7
2
7
7
325,000
Years.
$9,163. Payments—interest, $36,000,
Capital stock, $297,215; funded debt, $600,000, and
floating debt, $54,432; total liabilities, $926,087. Construction ($52,146
and other, $305.
Cent.
pal, When Due.
Payable, and by
A. & O.
April 1, 1893
Jan. 1, 1881
do
Various
do
Net
Gross
Mileage.
Earnings. Earnings.
32,132,185
305,019,182 $3,433,665 $411,514
3,911,261
756,300
33.967,434
402,856,462
-(V. 27 p. 172, 199; V. 28, p. 43, 145, 172, 377,453,503; Y. 29, p.
146,169, 252, 433, 459, 656, 680; V. 30, p. 16, 163, 289, 383, 518; Y.
Colebrookcdalc.—Sov. 30.1879, owned from Pottstown, Pa., to Barto,
Pa., 13 miles. Chartered in 1865 and opened in 1869. Leased for 20years
from Jan. 1, 1870, to Phila. & Read , at 30 per cent of gross earnings. In
June, 1880, default was made on bonds. Gross earnings in 1879, $30,544;
net
When
1,603,000
13,938,972
10,478.000
221,000
•
Where
Rate per
$600,000
2,526,000
1864
1865
1870
89
76
13
89
45
118
55
55
141
71
41
Amount
Outstanding
& Burlington)
mortgage bonds
Columbus Springfield d- Cincinnati—1st mort
Columbus d Toledo—1st mortgage coupon, s. t
Columbus <6 Xenia—Stock
,
1st mortgage
2d
of
of
Road. Bonds
do
Columbus &
1st
discovered In tbese Tables.
Bo nds—Princi¬
INTEREST OR DIVIDENDS.
DESCRIPTION".
For
[Vol." XXXI.
AKD BONDS.
Passenger
Miles.
581
580
Freight (ton)
Mileage.
31, p. 535.)
Columbus dc Hocking Val.—Dec. 31, 1879, owned from Columbus,
to Athens, O. (steel), 76 miles; sundry branches, 29 miles; total
105 miles.
In November, 1880, branch to Oreville completed—18 miles.
Chartered as “ Mineral RR.” in 1864. Present title adopted in 1867
main line opened in 1869. In 1879 a million tons of ooal were
Gross earnings, $1,005,973, and expenses, $636,773; net
O.,
operated,
and
moved.
earnings,
operated. 198 miles. Chartered in 1865, and main line opened in 1870.
It is largely owned by the Union Pacilic. The new mortgage bond was $395,799. Dividends of 8 per cent- have been paid for some years.
issued to take up the old 8 per cent bonds. (V. 28, p. 269; V. 30, p. 168.) The last annual report was published in V. 30, p. 407. Operations and
mile), $667,774, and profit and loss, $288,784. (V. 30, p. 589,)
Colorado Central.- Dec. 31,1879, owned from Che venue, W/., to Denver
(standard gauge), 133 miles; and Golden to Central City, 25 miles; and
Torka Creek to Georgetown, 40 miles; total 3-foot gauge, 65 miles; total
per
Columbia d- Port Deposit—Dec. 31, 1879, owned from Columbia,
Port Deposit, Md., 39 miles. Leased to and
by
RR. Co. Rental, net earnings.
Gross earnings, 1878,
ing expenses, $22,210, and net earnings, paid to lessors,
Pennsylvania
$36,174; operat¬
$13,964. Capi¬
$1,603,000, and floating debt, $449,Cost of property, $1,702,335.
operated
tal stock, $208,177; funded debt,
732; total liabilities, $2,260,899.
earnings for five years past were as
Pa., to
Ind., 102
operated,
formed Feb. 12,1868, by consolidation of
Chicago, Ill., 231 miles; Richmond, Ind., to Anoka Junction,
miles; Peoria Junction, Ind., to Ill. State Line, 60 miles; total
580 miles. This company was
the Col. & Ind. Cen. and Chic. & Gt. East railroad companies, and was
leased to the Pittsburg Cin. & St. Louis Railway Cb. February 1,1869,
by whom it was operated during the last two years, under direction of the
U. S. Circuit Court, for account of Receivers of the C. C. & I. C. Ry.
Co. The lease stipulated that the lessees should maintain the road and
equipment, operate it, and pay over to the lessors 30 per cent of the
gross earnings. Also, that the rental should always be equal to
est on $15,000,000 first mortgage bonds of the C. C. & I. C. Ry. Co.,
and $821,000 of the second mortgage bonds of the Col. & Ind. RR. Co.
The lessees also agree to pay the interest as it accrues on these bonds.
the inter¬
Any net earnings remaining after the payment of this interest are to be
applied to the payment of interest on the second mortgage 7 per cent
bonds to the amount of $10,000,000 (or on the preferred stock into which
these last bonds may be converted), to pay to a sinking fund of one-half
of one per cent on the $15,821,000 referred to, and to apply any balance
to dividends on common stock. In August, 1874, default was made on the
$5,000,000 seconds, and April 1, 1875, defaulted on flrst mortgage. In
the suit between lessor and lessee, Judge Harlan decided the debt must
be reduced to the limit—(See bondholders’ report, V. 29, p. 656.) Pur¬
suant to this decision, the debt was substantially reduced as required,
and the final decision of Justice Harlan in January, 1880, embraced the
following: “That the Columbus Chicago & Indiana Central Company has
performed its covenant of the lease in reducing the bonded indebtedness
of the road; that the Pennsylvania Company (guarantor of the lease) is
entitled to $1,258,000 of convertible income bonds for the same amount
of second mortgage bonds of the Columbus Chicago & Indiana Central
Company, together with $572,390 accrued interest; that on the 1st of
January, 1880, there was due and unpaid, as rent, by the lessees, $3,356,855 97; but they are entitled to a total deduction of $587,281 07,
leaving the net amount due to the Columbus Chicago & Indiana Central
$2 ,769.574 90, save as of tenants accepted, and the trustees are entitled
to receive 6 per cent interest thereon from January 1,1880, till paid, but
none before that date; that unless the amount is paid within sixty days
from date the trustees to have execution against the Panhandle and
Pennsylvania companies therefor; but the net earnings of the Columbus
Chicago & Indiana Central Road for November and December last shall
be credited on the judgment, as well as the sum of $114,267 61, the
earnings for the month of October. The payments by the lessees on the
judgment shall be deposited in the Gallatin National Bank, and to the
credit of James A. Roosevelt and William R. Fosdick, trustees, and the
lessees shall be bound under the lease to pay to the said trustees and
their successors, so long as their receivership shall last, as rental for the
premises of the Columbus Chicago & Indiana Central, 30 per cent of the
gross earnings of the road, and in case they fall short of $1,107,470 (7
per cent interest on $15,821,000 of bonded indebtedness) in any one year,
then the
deficiency shall be made good by the lessee.
*
*
Miles.
88
88
Years.
Columbus Chic. <£ Ind. Cent— Dec. 31,1879, owned from Columbus, O.,
to Indianapolis, Ind., 187 miles; branches—Bradford Junction, O., to
*
Passenger
Mileage.
follows:
Freight (ton)
Gross
Mileage.
Earnings.
Net
Div.
Earnings, p. c.
45,853,513 $877,590 $358,376
8
47,572,017, 8 41,139
386,834
8
357,755
94
55,860,504
820,899
8
100
871.553
391,127
8
63.317,069
100
73,188,798 1,032,572
395,799
8
-(V. 28, p. 399; V. 30, p. 407; V. 31, p. 483.)
Columbus Springfield & Cincinnati.—June 30, 1879, owned frem Col¬
umbus, O., to Springfield, O., 44 miles. Opened in 1872s Leased to Cin¬
cinnati Sandusky & Cleveland for $80,000 a year, but in 1878 leaserental reduced one half for the next succeeding three years. In 1878 the
balance sheet showed: capital stock, $1,000,000; bonds, $1,000,000;
unpaid coupons, $70,000; and profit and loss, $59,428; total liabilities,
$2,129,428. Construction, $2,000,000; rental account, $100,000; and
other property and assets, $29,428.
(V. 31. p. 405.)
Columbus d Toledo.—Dec. 31. 1879, owned from Columbus, O., to Walbridge, O., 118 miles—about 65 miles steel. Completed in 1877. The
tracks of Northwestern Ohio are used for 5^2 miles from Walbridgeto
Toledo. Gross earnings in 1879, $574,893, and expenses, $314,632.
Net earnings, $260,260; lease rental paid Northwestern Ohio Railroad,
$21,178; interest. $169,867. Capital stock is $915,097. Annual report,
V. 30, p.407.
(V. 28, p. 399.)
, .
Columbus d Xenia.— Dec. 31,1879, owned from Columbus, O., to Xenia,
O., 55 miles. Is operated as a division of the Little Miami, and is leased
for 99 years in connection with that road to the Pittsburg Cincinnati <fc
St. Louis, which pays 8% per cent on stock and provides for the bonds.
The lease is guaranteed by the Pennsylvania Railroad Company.
Concord.—March 31,1879, owned from Concord, N.H., to Nashua, N.H.,
35 miles; Manchester & North Weare, 19 miles; Hooksct Branch, 7
miles; leased—Concord & Portsmouth, 41 miles; Suucook Valley, 20
miles; Nashua Acton & Boston, 20 miles; total operated, 142 miles.
Operations, earnings, and income over rentals, &o., for six years past
were as
3,157,140
3,228,815
3,093,965
3,652,905
follows:
Passenger Freight (ton)
Gross
Net Div.
Miles.
Mileage.
" Mileage.
Earnings. Earnings, p. c.
142
13,240,002 21,926,106 $l,002,9o0 $310,004
142
12,987,174 20,008,402
950,358
293,298
142
871,528
294,761 10
12,067,832 19,111,714
10,856,140 21,634,669
771,171
142
340,454
733,004
142
10,580,508 21,609,056
318,847
142
870,088
10
-(V. 28, p. 525; V. 30, 599.)
_
,
Concord d Claremont.—March 31,1879, owned from Concord to Clare¬
mont, N. H., 56 miles; branch. Contoocookville to Hillsborough, N.
15 miles; total operated. 71 miles. Consolidation of several
in 1873. Gross earnings in 1878-9, $139,026, and operating expendi¬
Years.
10
10
10
10
..
tures,
H„
small roads
$101,162; net earnings,
$37,758.
Capital stock, $410,900, and
bonds, $500,000; total stock and bonds, $910,000.
property, $1,850,000. Floating debt, $254,245.
Original cost of
Portsmouth, N.
sold to first mort¬
Concord RR. in 1858. Leas®
present stock¬
Concord d Portsmouth.—March 31, 1879, owned from
H., to Manchester, N. H., 40*2 miles. The road was
gage bondholders in 1857, and leased to
rental is $25,000 a-year, which gives 7 per cent a year to
holders. There is no debt.
Hartford, Ct
7
miles; leased, Springfield & New London, Springfield to State Line, 8
miles; total operated, 35 miles. Leased to New York & New England RR.
from June 1, 1880. Capital stock, $437,600; funded debt, $325,000; and
bills, overdue coupons, <fcc., $28,953. In March, 1880, $302,000 of the
A judgment for $932,500 on $298,000 Newcastle & Richmond RR., 1st
mort. bonds, with interest, ahead of the consol, mortgage.
The gross bonds were sold to N. Y. & New England RR. (V. 30, p. 116, 357, 544.)
Connecticut & Passumpsic.—June 30, 1879, owned from White River
warnings for six months, September to March, are given as $2,282,748,
and net earnings $725,237, against $361,927 for same time in 1878-9.
Junction, Vt., to Canada Line, 110 utiles; leased. Massawippi Valley
and branch (Canada), 37 miles; total operated, 147 miles. Chartered
Operations and earnings for five years past were as follows:
in 1835. Completed in 1863. The lease of Massawippi Railroad is at
Net
Gross
Freight (ton)
Passenger
Earnings. 6 per cent on bonds and same dividends as are paid on the stock of the
Years.
Miles.
Mileage.
Earnings.
Mileage.
1875
587
239,812,791 $3,619,653 $606,442 lessee. Abstract of last report in V. 31, p. 303. The new mortgage of
33,250,748
506,608 $1,500,000 will retire previous issues. Operations and earnings for live
3,457,716
T876
581
274,953,224
37,754,467
Columbus Chicago & Indiana
its claim for betterments, income bonds to the amount of
$660,000.” From this decision the Pennsylvania Railroad appealed to
the U. S. Supreme Court. The effect of the decision is considered in the
New York Committee’s circular, V. 30, p. 289. There is also on record
The lessee is entitled to receive from the
Central,
on
1877
581
31,795,297
254,492,612
3,396,255
455,340
Connecticut Central.—Sept.
to Mass. State
years
30,1879, owned from East
Line, 20 miles; branch from
past were as follows:
Melrose to Rockville, Ct.,
KAILROAD
December, 1880.]
Subscribers will confer
a
STOCKS
Miles
Date
For explanation of column headings, Ac., see notes
of
of
on first page of tables.
Road. Bands
Connecticut <t Passumpsie—(Continued)—
Massawippi st’k, guar, same div. as Conn.
38
38
A Pass.
by Conn. & Pass
Connecting (Phila.)—1st mortgage
Coming Cowanesque <6 Antrim—1st mortgage
2d
Pennsylvania—1st mortgage'!
mortgage, sinking fund, (guaranteed)
Cumbtiiand Valley—Stock ($484,900 preferred)
1st
2d
mortgage
mortgage, sinking fund guaranteed
Common bonds.
•
Danbury <£ Norwalk—Stock
1st and 2d mortgages.
•
*
.
33
or
Par
Value.
Amount
Outstanding
$100
....
1870
1864
Consolidated mortgage
400,000
2,100,000
100
501) Ac.
142
142
142
2d mortgage
3d mortgage
Toledo depot (cost $353,940) 1st and 2d mortgage
Dayton <6 Union—1st mortgage
•
•
•
•
31
991,000
1,000
803;500
1,000
50
1*777,850
500,000
1866
1868
....
....
.
.
.
81,800
.
....
50
50
....
1871
1856
1,000
1867
1,000
1869
1,000
61A 64 500 Ac.
.
....
-
-
guar.
Delaware—Stock
41
100
Mortgage bonds, convertible, guar. P. W. & B
Delaware <& Bound Brookr—Stock, guaranteed
.
Passenger Freight (ton)
..
1875
1,000
25
....
1,000
*
....
1st mortgage
Delaware Lackawanna <£ Western—Stock
2d mortgage (Delaware Lackawanna A Western)
Consol, mort., on roadsAequipm’t,($10,000,000).
Bonds (convertible June 1,1875 to ’77)
Lackawanna A Bloomsb., 1st mort. (extension)..
Years.
Miles.
Mileage.
Mileage.
1875-6....
147
6,805,104
5,170,347
1876-7....
147
5,619,829
7,618,721
147
1877-8....
8,179,341
4,464,983
147
1878-9....
4,400,575
8,574,448
147
1879-80
6,174,878
13,670,452
-(V. 29, p. 299, 301; V. 31, p. 303.)
Connecticut River— Sept. 30, 1880, owned
1865
85
L. M. and C. & X..
27
195
115
288
....
....
1875
....
1856
1877
....
50
500 &c.
....
1872
60
Gross
1,000
1859
604,596
558,612
544,142
657,547
Net
Div.
p.c.
3
3
3
226,139
from Springfield, Mass., to
Connecticut Western.—Sept. 30, 1879, owned from Hartford, Conn., to
New York State Liue, 67 miles; leases 2 miles; total operated, 69 miles.
Chartered in 1868 and road completed in December, 1871.
Gross
earnings in 1879-80, $238,810; net, $15,563. Capital stock, $1,892,100.
Permanent property.
$5,042,785.
been
No bond interest has
paid since Jan. 1,1876. Foreclosure suit begun in 1880, and the State
Treasurer took possession. (V. 30, p. 192, 465; V. 31, p. 509.)
Connecting (Philadelphia).—Dec. 31,1879, owned from Mantua Junc¬
tion to Frankford Junction, Pa., 7 miles.
A comiecting link in Phila¬
delphia to the West and South. Operated by Pennsylvania Railroad.
Rental, 6 per cent on capital stock, $1,278,300; and funded debt, $991,000. The bonds are issued in series ABC and D, maturing respectively
in 1900-’l, ’2, 3 and ’4.
Coming Cowanesque <6 A ntrim.—Dec. 31,1879, owned from Corning
N. Y., to Antrim, Pa., 53 miles; branch, Lawrenceville to Elkland, Pa..
11 miles; total operated, 64 miles. Consolidation (Jan., 1873) of the
Petersburg A Coming RR. and the Wellsboro RR. June 1, 1874, the
Cowanesque Valley RR. was absorbed. These lines are leased to and
operated by the Fall Brook Coal Co. Rental paid—7 per cent on bonds,
$35,000 ; 6 per cent on common stock, $84,000, and 12 per cent on pre¬
ferred stock, $60,000; total rental, $179,000 a year. Stock—common,
$1,400,000, and preferred, $500,000; and 7 per cent bonds, $500,000;
mile), $2,400,000. Annual drawings of $20,000
commencing in 1880.
Cumberland <6 Pennsylvania.—Dec. 31,1879, owned from Cumberland,
Md., to Piedmont, Md., and several branches, 55 miles; almost all steel
rail. It is owned and operated by Consolidation Coal Company, which
guarantees second mortgage.
Cumberland Valley.—Dec. 31,1879, owned from Harrisburg, Pa., to
Potomac River, Md., 82 miles; leased—Martinsburg & Potomac Railroad,
12 miles; Dillsburg A
Mechanicsburg Railroad, 8 miles; Southern
Pennsylvania Railroad, 23 miles; total operated, 125 miles. Char¬
tered in 1831. Main line, Harrisburg to Cumberland, completed in
1839, and extended to the River in 1872. Owns or leases several factory
roads, in all about 43 miles. The stock is owned in large part by Penn¬
sylvania Railroad Company. Last annual report V. 30, p. 297.' Large
advances have been made to branch roads. Operations and earnings for
five years past were as follows:
Passenger Freight (ton) Gross
Net
/—Div.p.c.—%
Years.
Miles.
Mileage. Mileage. Earnings. Earn’gs. Pref. Com.
125 7,163,054 9,730,205 $526,076 $249,042 10
10
125 7,314,649 10,531,250 547,994 289,351
12^ 12^
125 5,869,562 11,062,510 519,851 254,253 10
10
1878
125 5,426,229 11,030,907 536,410 224,985 10
10
1879...... 125 5,265,292 12,485,385 503,597 264,900 10
10
—(V. 28, p. 427; V. 30, p. 297.;
Dasibury <k Nor walk.—Sept. 30,1879, owned from Danbury, Conn., to
South Norwalk, Conn., 24 miles; branches to Ridgefield and Hawleyville, together 10 miles; total operated, 34 miles. Opened in 1852.
Dividends have been irregular. Operations and earnings for five years
total ($137,500 per
34
34
2,521,678
960,977
2,464,378
903,384
34
932,634
2,557,337
34
2,481,889 1,089,900
34
3,301,269 1,308,897
—(V. 30, p. 567; V. 31. p. 509.)
$173,478
165,245
157,953
164,236
184,407
Net
Earnings,
$73,340
43,371
39,667
35.318
60,079
370,900
Div.
p. c.
6
3
....
2
2*2
A. A O.
A. & 0.
r
7
6 & 7
3
6
1*2
7
1
7
7
7 '
7
i
|
j
The Greenville A Miami RR.
organized
Jan. 9, 1863.
was
Operated by trustees since Dec., 1871.
Gross earnings in 1878, $107,010; operating, $68,020; net earnings,
$38,990. Paid lease, $10,000; equipment hire, $5,557, and bond inter¬
est, $28,695; total payments, $44,352. Capital stock, $86,300: funded
debt, $487,445, and other liabilities, $52,390; total, $626,135. Property
account, $620,224*
as now
_
.
Philadelphia.
Philadelphia.
Q.-F.
New York,
do
do
do
do
Q.-J.
i
M.
M.
J.
M.
A
&
&
&
8.
S.
D.
S.
Nov. 1,
1880
August, 1905
Oct. 20, 1880
March 1,1881
Office.
do
do
do
do
Sept. 1. 1907
June. 1892
March, 1885
The lessees are virtual owners and are answerable for all
obli¬
gations.
Delaware— Oct. 31,1879, owned from Delaware Junction (P. W. A B.),
Del., to Delmar (Md. Line), 84 miles; branches, 16 miles; total operated,
100 miles, less one branch (6 miles) operated by the Dorchester & Dela¬
ware Railroad.
The Delaware Railroad was opened 1855-1860, and is
leased to the P. W. & B. Co.; rental 30 per cent of gross earnings, but
stock must have six per cent. Gross earnings in 1878 $365,580, net,
$109,674; in 1879,^ gross. $448,362. net, $134,508. Dividends and
interest
paid, $132,339. (V. 28, p. 69.)
Delaware <6 Bound Brook.—December 31, 1879, owned from Bound
Brook (C. of N. J.) to Delaware River, 27 miles; branch, main line to
Trenton, 4 miles; total operated, 31 miles. In connection with Central
of New Jersey and North Pennsylvania forms a lino between New
York and Philadelphia. In
990 years to the Philadelphia
May, 1879, the property was leased ,for
& Reading Railroad Company—the lessee
paying interest and 6 per cent on stock in 1879-81, 7 per cent in 1881-83,
and 8 per cent afterward. The terms were described as follows at the
time: “ The lease is for 990 years, being made for this terra because the
Bound Brook’s charter is for 999 years, and a few years of its existence
have already passed. The conditions are that the Reading is to
pay all
interest on the bonds of both the main roads and the laterals, and the
interest on the floating indebtedness at 6 per cent until the bonds are
converted. The Reading also binds itself to pay dividends on the stock
of both roads quarterly, on the 1st of February, May, August and No¬
vember. For the first two years it is bound to pay 6 per
dividends:
for the next two years following, 7 per cent, and for all subsequent
years 8 per cent, free of all taxes. The bonded indebtedness of the
Bound Brook road is $1,500,000, and the capital stock about $1,500,000.”
Gross earnings in 1878 $270,570; net, $119,022.
(V. 28, p. 451, 503;
V. 30, p. 566.)
Delaware Laclcawanna <& Western.- Dec. 31, 1879, owned from Dela¬
ware River (N. J. line) to New York State
line, 115 miles; branches—
Scranton to Northumberland, 80 miles; Greenville to Winton, Pa., 8
cent
miles; Junction to Keyser Valley, Pa., 5 miles; leased lines in New
York—Cayuga A Susquehanna Railroad, 35 miles; Green Railroad.
8 miles; Oswego & Syracuse Railroad, 35 miles; Utica Chenango A
Susquehanna Valley Railroad, 98 miles; Valley Railroad, 11 miles;
controlled and operated—Syracuse Binghamton A New York, 81 mile*
Rome & Clinton Railroad, 13 miles; Utica Clinton & Binghamton, 3l
miles; leased lines in New Jersey—Chester Railroad, 10 miles; Morris
& Essex, 118 miles; Newark A Bloomfield, 4 miles; Warren Railroad,
19 miles; total operated, 670 miles. For the terms of leases, see remarks
under the names of the respective leased roads.
The Lackawanna £
Bloomsburg was consolidated with this company Juno 19, 1873. Th©
following is a synopsis of the annual statement of the company for 1879;
Gross earnings from all sources
$19,942,290
16,131,839
Less expenses
Balance net
Deduct interest
earnings
bonds and rentals of leased roads
on
Actual profit for the year ending Dec. 31,1879
Add surplus income to Dec. 31,1878
The entire cost of the change of gauge,
$3,810,451
3,624,430
$186,021
4,346,120
$4,532,146
heretofore kept as an asset, and
consequently included in the surplus income of past years, has been
written off the books of the company, namely, $873,809, leaving inconf*
account surplus, Dec. 31.1879, $3,658,337.
The following statement
includes the operations of the Delaware Lackawanna A Western proper
Operations and earnings for five years past were as follows:
Gross
Passenger Freight (ton)
Net
Years.
Miles.
Mileage.
Mileage.
Earnings. Earnings,
208 11,176,135 229.499,212 $6,282,108 $4,170,086
208 12,858,752 174,610,656 4,051,286 2,645,288
208
8,722,409 168,693,921 3,617,659 2,105,341
208
9,336,008 187,819,897 3,699,601 2,320,482
The
sold out Oct. 30,1872, and re¬
.
F. & A.
l*fl
i
Danbury
April 1, 1908
Jan. 1, 1884
June 1, lfiftO
J. & J. N. Y., Nat. City Bank.
1920, ’90, ’92
do
do
J. A J.
1920
A. A O. Cincinnati. C. H.& D.Co.
Oct., 1880
Jan. 1881
Q.-J. N. Y., Winslow, L. A Co.
J. A J.
do
do
July, 1881
M. & S.
do
do
Sept., 1887
A. & O.
do
do
Oct., 1888
M. A S.
do
do
Mar.,’81 A ’94
N.Y., Am.Exch.Nht.Bk. Jan. 1, 1879
Jan. 1, 1879
Jan. 1, 1879
J. A J. N. Y., Am. Exch. N. B’k Jan. 1, 1905
J. A €.
Jan. 2, 1881
Dover, Co.’s Office.
J. A J. Phil., Fid’lity I.T. A.S.Co July 1, 1896
2
!
do
Np.w Vnrlr and
*
1
do
do
do
Dayton & Western.— Dec. 31, 1879, owned from Dayton, O., to Indiana
Leased in perpetuity from Jan. 1,1865, to Little
Miami, and carried with that road in the general lease to the P. C. A St.
Div.
p. ©.
10
7%
....
....
following shows the gross and net earnings of the company proper*
Opened in 1862. Leased in perpetuity to the
Cincinnati Hamilton A Dayton. A preferred debenture stock takes up Years.
the bonds. A sinking fimd is also provided. The lessees hold $1,398,100
of the common stock. (V. 29, p. 15.)
Dayton <& Union .—June 30,1878, owned from Dodson, O., to Union City,
Ind., 32 miles; leased Dayton to Dodson, 15 miles; total operated, 47
miles.
July 1, 1885Co.’s Office. March 1,1891
do
May 1, 1888
Q.-J. Phila. and Carlisle, Pa. Oct., 1880
A. A O. Phila., T. A. Biddle & Co April 1, 1904
1%
i
Aug. 2, 1880>
J.
do
Jan. 1, 1890J. Boston, Bost.A Alb.RR. Jan. 1, 1881
N. Y.,Met. N. Bank.
J.
July 1, 1900
S. Phila., Penn. RR. Office. 1900-’l-’2-’3->4
1*4
7
6
Stocks—Last
Dividend.
M. & 8. New York,
M. & N.
do
8
8
6
Dayton <k Michigan— March 31, 1879, owned from Dayton, O., to including the aggregate
Toledo, O., 141 miles.
Boston, Office.
pal,When Due.
State line, 36 miles.
Louis.
244,311
222,590
219,695
South Vernon, Vt., 50 miles; branches,.6 miles; leased Asliuelot RR.,
S. Vernon, Vt., to Keene, N. H., 24 miles; total operated, 80 miles.
Ashuelot RR. receives about $14,000. Pays 8 per eent dividends on stock
and has paid off all the funded debt. (V. 29, p. 510; V. 31, p. 651.)
past were as follows:
Passenger Freight (ton)
Gross
Years.
Miles.
Mileage.
Mileage.
Earnings.
600,000
400,000
100,000
2,401,574
1,211,250
1,846,000
426,000
351,000
105,500
100,000
135,000
252,444
495,000
1,456,719
650,000
1,598,000
1,500,000
26,200,000
1,633,000
3,067,000
600,000
100 Ac.
Earnings. Earnings.
$637,554
$240,955
Bonds—Princi*
Where Payable, and by
Whom.
A A.
A
A
A
M. &
2*3
*
161,000
109,500
When
Payable
F.
J.
J.
J.
*
594,000
500 &c.
500 &c.
100 &c.
50
’70-’72 100 &c.
....
mortgage
Income mortgage bonds
Dayton <6 Western—1st M.,
2
6 g4
7
6
7 g.
6
6
3,200,000
1,000
1880
142
142
Rate per
Cent.
$400,000
1*000
...
177874-6590. 811862-970.
33
Dayton (6 Michigan—Com. stock (3*2 guar. C.H.AD.j
Preferred stock, (8 percent, guar. C. H. &D.)
1st mortgage, sinking fund, $30,000 per year
2d
xxvii
INTEREST OR DIVIDENDS.
Size,
1870
56
67
7
64
38
38
110
52
52
Connecticut Western—1st mortgage
Cumberland
BONDS.
great favor by giving Immediate notice of any error discovered In tbese Tables.
DESCRIPTION.
do
bonds, guar,
Connecticut River—Stock
AND
5oal sales, for twelve years:
Gross
Net
Earnings.
Earnings-
Gross
Net
Earnings.
$11,902,571
Earnings.
$804,696
1874....
$22,741,521
12,141,209
14,924,010
20,011,300
17,086,100
21,660,013
1,654,763
1,759,595
2,164,019
1,118,911
1,295,488
1875....
1876....
1877....
1878....
1879....
27,014,846
17,447,916
•
Years.
14,871,311
14,454,405
19,942,290
$5,743,75#
7,162,183
4,001,861
2,479,197
3,618,129
3,810,451
1873
25 334 989
u uo *. uiu
The mortgage for $10,000,000 authorized will take up prior bonds to the
amount of $2,820,000 as they mature, and the balance is for cash re¬
sources as required.
(Y. 28, p. 144; V. 29, p. 119, 225; V. 30, p.
108, 408, 216,229,304.)
Subscribers will confer a
great favor by giving
explanation of column headings, <fec., see
on
first page
of tables.
notes
Denver d Rio Grande—Stock ($30,000,000 author’d)
1st mort., gold, sinking fund
Arkansas Valley Division—1st mortgage, gold...
1st consol, mortgage ($15,000 per mile)
Denver South Park d
Pacific—"Stools.
1st mortgage, gold, sinking fund
Des Moines d Fort Dodge— 1st mortgage, coupon
Det. Gr. Haven d Mil.—1st M., guar.,(for $2,000,000)
2d mortgage, guar., (for $3,500,000)
Dollar (Oak. & Otta. RR.) bonds, Oct, 1,1853
1st mort. (Detroit & Pontiac RR.), April 1,1851.
3d mortgage (Detroit & Pontiac RR.), Feb. 1854.
2d mortgage, (Detroit & Pontiac RR.), Jan. 1853.
TT
Detroit. THJ.Ign.fxJf. iP S. W.—fltnek
Detroit Lansing d North.—Stock, common
Preferred stock
_
_
1st mortgage
Ionia & Lansing, 1st mort., coup., may be reg—
2d mortgage
do
do
do
....
Dubuque d Dakota 1st mort., gold, guar
Dubuque d Sioux Oiiu—Stock
.M
1st mortgage, 1st division
1st mortgage, 2d division (for $1,400,000)
Dubuque Southwestern—1st mort., pref., sink,
1st mortgage, Oct. 1,1863.
'
Dunkirk Allegh. Valley d
2d mortgage
3d mortgage
East Broad lap.—1st
mortgage, registered
Georgia—Stock
mortgage sinking fund bonds
East Tennessee Virginia d
Denver d Rio
fd
Pittsburg—1st mort., gold
1st mortgage
1st
Grande (3 ft.)— December
immediate notice of any error
Miles Date Size, or
Par
of
of
Road. Bonds Value.
337
291
43
212
150
88
189
189
^
m
m
m
Outstanding
1876
1874
1878
1878
1853
1851
1854
1853
1,000
1,000
1,000
44,000
144,000
250,000
100,000
1,000
1,000
1,000
1877
500 &c.
59
59
55
143
100
43
1869
1870
1879
1,000
1,000
1,000
1863
1864
1863
1863
1870
1870
1870
1873
500 &c.
500
1,000
1,000
1,000
1,000
1,000
1858
50
100 &c.
100
1870
1,000
Gross
Miles.
120
120
120
307
337
337
Earnings.
$379,142
363,096
388,846
Earnings.
773,322
1,124,571
1,157,466
(V. 29, p. 40, 66, 301, 329,382, 407, 459, 562, 583; Y. 30, p.
143, 248, 322, 493, 624; V. 31, p. 44, 94, 152, 558, 588, 652.)
$183,516
155,029
161,602
342,676
16. 118,
Col.,
Denver So. Park d Pac. (3 ft.)—Dec. 31,1879, owned from Denver,
to Gunnison, &c., 135 miles; extension to Hortense, 8 miles; branch to
Morrison from Bear Creek, 9 miles, and coal mine branches in So. Park.
3*2 miles; minor branches, 2hj miles. Total operated, 154 miles. Exten¬
sion to Gunnison City, 58 miles, to be finished in November, 1880.
Bonds issued at the rate of $12,000 per mile of finished road. First
dividend paid August, 1880. Sept. 20,1880, new branches
and voted to increase the capital stock. In December, 1880, Mr. Gould
authorized,
66, 624; Y. 31, p. 45,
bought most of the stock. (V. 29, p. 511; V. 30 p.
687152, 358, 429, 535, 558,608.)
Des Moines d FI. Dodge.—June 30,1879, owned from Des Moines to Fort
Dodge. Iowa, 84 miles. Originally a division of the Des Moines & Valley
RR., built in 1870 and sola out in 1873. Gross earnings in 1879 were
$225,404: net, $84,062. Half of above bonds are incomes and depend
on earnings for their interest. Capital stock is $1,843,100, and funded
debt $2,200,000; total cost of property to present owners, $4,200,000.
Det. Grand Haven d Mil.—Dec. 31,1879, owned from Detroit, Mich., to
Grand Haven, Mich., 189 miles; branches, 3 miles; total operated, 192
miles. This is a reorganization of the Detroit & Mil. which was sold in
foseclosure Sept., 1878. This road is now operated as an extension of
the Great West, of Can., by which the new bonds are guaranteed. The
Detr. <fc Pontiac and O. & O. interest has been paid, and those bonds may
be changed into new first mortgage. (V. 27, p. 15, 40, 67, 172, 251,
2*2
3*2
7
8
8
550,000
5,000,000
296,000
586,000
81,500
450,000
2,000,000
1,000,000
200,000
500,000
100
500
31,1879, owned from Denver
8
7
1,350,000
1,825,617
2,503,380
2,265,000
77#,000
81,000
100
182
7 g.
7 g.
7
4
7
6
6
5
7
7
3,500,000
200 &c.
500 &c.
'ioo
....
55
55
90
90
90
30
36
36
270
242
Rate per
Cent.
6,382,500
1,040,000
8,475.000
3,500,000
1,800,000
2,200,000
2,000,000
500 &c.
500 &c.
500 &o.
100
*65
Average
1879
Amount
$100 $16,000,000
1870
1872
1880
City, Col., to Alamosa, Col., 251niles; branches—Pueblo, Col., to Canon
City and Coal Mines, 44 miles; Cucliara, Col., to El Moro, Col., 45
miles; total to January 1, 1880, 340 miles. In November, 1880,
635 miles were completed The trouble between the Atchison Topeka
<fc Santa Fe line and this company was finally settled by agreement,
and a judicial decree entered fixing it for ten years, (see V. 30, p.
143), viz.: “The Denver <fe Rio Grande is to stop the construction
Its extension
of its Pueblo & St. Louis line east from Pueblo.
into New Mexico is to be built only to a point half way between
Conejos and Santa Fe. The Atchison Topeka & Santa Fe Company
agrees not to build to Denver or Leadville, or to any other point
on or west of the Denver & Rio Grande Railroad.
An equal division of
the Leadville, San Juan and other Southern Colorado business from the
Denver & Rio Grande, is to be made between the two companies at
Pueblo. The Atchison Topeka & Santa Fe will also receive one-quarter
of the Denver traffic with the Missouri River and eastern points."
The Denver & Rio Grande offered to exchange each $1,000 of the
subscriptions to the Pueblo & St. Louis road securities for $1,000 in bonds
and $500 in stock of the Colorado Coal & Iron Co. The trust deed of
the consolidated mortgage is to Louis H. Meyer and John A. Stewart,
of New York, as trustees. The deed is to secure and provide for an
issue of bonds, the amount afloat at one time not to exceed $30,000,000,
of which $7,422,200 shall be used in retiring prior issues,’and $5,500,000
shall be issued at once for the purpose of building and completing the
extension to Leadville, New Mexrfco and San Juan mines, and other
points—565 miles of extensions are contemplated in all, and the bonds
are issued at $15,000 per mile.
The Arkansas Division bonds are held
by trustees of the Colorado Coal & Iron Co. The following are the latest
yearly earnings reported:
Net
Years.
1874
1875
1876
1877
1878
AND BONDS.
[VOL. XXXI.
discovered in these Tables.
Bonds—Princi¬
INTEREST OR DIVIDENDS.
DESCRIPTION.
For
STOCKS
RAILROAD
XXV111
i87
7
7
7
7 g.
7
7
7
3
7
3
1,309,200
495,900
1,968,274
3,123,000
7
When
Where
.
pal/When Due.
Payable, and by
Whom.
Payable
Stocks—Last
Dividend.
M. & N. N. Y., Bk. of Commerce. Nov. 1, 1900
New York.
May 1, 1902
M. & N.
J. & J. N. Y., N. B. of Comm’ce. Jan. 1, 1900
Aug. 15,1880
New York.
M. & N. N.Y., London& Frankf t May 1, 1905
J. & J. N. Y., Morton, B. &Co. June 1, 1905
1918
New York & London.
A. & O.
1913
do
do
A. & 0.
Jan. 1, 1882
M. & N.
[New York.
Jan. 1, 1882
do
A. & O.
Feb. 15,1888
Detroit.
F. & A.
Jan. 1, 1882
New York.
J. & J.
....
F.
J.
J.
M.
J.
A.
J.
J.
J.
A.
J.
A.
A.
J.
J.
M.
A.
J.
& A.
& J.
& J.
& N.
& J.
& O.
& J.
& J.
& J.
& O.
& D.
& 0.
& O.
& J.
& J.
& S.
& O.
& J.
Aug. 10, 1880
Aug. 10, 1880
Jan 1, 1907
Boston, 2d Nat. Bank.
July 1, 1889
do
do
Boston, Det. Lans.&No. May 1, 1880
N.Y.,M.K. Jesup.P.&Co. July 1, 1919
N.Y.,M.K. Jesup,P.& Co. Oct. 15, 1880
Boston.
do
do
do
do
do
New York, at Office.
N.Y.,M.K. Jesup,P.& Co.
N.Y., N.Y. Cent. & Hud.
do
do
do
do
1883
1894
July, 1883
Oct., 1883
June, 1890
Oct. 1, 1890
Oct. 1, 1890
Pliiladelp’a, Co.’s Office. July 1. 1903
July 20,1880
Phila., by P. & R. RR.
Mar. 1, 1888
Phila., P. & R. office.
N. Y., R. T. Wilson & Co. Oct. 1, 1880
N. Y., Gallatin Nat’l B'k July 1, 1900
there join the Turkey River Branch
Northern Railroad. (V. 30, p. 493.)
of the Burlington Cedar Rapids <fe
Dubuque d Sioux City.—Dec. 31,1879,
owned from Dubuque, Iowa, to
in 1856. Leased to Ill.
agreeing to pay 35 per
Iowa Falla, 143 miles. Chartered as Dub. & Pac.
Cent, from Oct. 1.1867. for 20 years, the lessees
cent of gross earnings for ten years
per
with privilege to make the lease perpetual at
cent for next ten years,
the latter rate. Gross
$925,228; net (after drawback to I. F. & Sioux City
and 36
earnings 1878,
Gross earnings, 1879, $927,826.
Southwestern.—Farley, Iowa, to Cedar Rapids, Iowa, 55
miles. Formerly Dubuque Marion & Western. It is leased to Chicago
Milwaukee & St. Paul Company, and no separate report of earnings or
rental is made. Capital stook—common, $588,400; preferred, $589,600; funded debt, $548,000; and other liabilities (including overdue
coupons), $117,083; total liabilities, $1,843,083. The lino is practically
a side property belonging to lessees.
(V. 26, p. 264, 459.)
Dunkirk Allegheny Valley d Pittsb.—Sevt. 30, 1879, owned from Dun¬
kirk, N. Y., to Titusville, Pa., 91 miles. A consolidation of the Dunkirk
War. & Pittsb. and Warren & Venango in 1872. Is owned by N. Y. Cent.
& Hud. Riv. Co., but accounts are kept separate. Gross earnings. 1879,
$283,132; no net earnings; deficiency, $20,109. Capital stock, $1,300,000; funded debt, $3,200,000; advance by lessee, &c., $21,016; profit
and loss, $103,458; total liabilities, $4,824,474. Nominal cost of prop¬
Company), $394,145.
Dubuque
erty, $4,815,379. (V. 30, p. 17.)
East Broad Top (Pa.)—Dee. 31, 1879, owned from Mount Union, Pa.,
to Robertsdale, Pa., 30 miles. A coaH road, opened in 1874. The stock is
$568,400. In 1878 gross earu’gs were $90,808 and net earn’gs $38,122.
East
Pennsylvania.—Nov. 30,1879, owned from
Reading, Pa., to Allen¬
to the
stock
town, Pa., 36 miles. It is leased for 999 years from May 19, 1869,
Phila. & Reading RR., at a rental of 6 per cent per annum on the
and interest on the bonds. G. A. Nicolls, President, Reading.
East Tennessee
Virginia d Georgia.—June 30,1879,
owned from Bristol
Tenn., 242 miles; branch, Cleveland, Tenn.,
total operated, 272 miles. This was a consoli¬
dation, Nov. 20.1869, of the East Tenn. <fc Virginia and the East Tenn. <fc
Georgia railroads. The company owns the Cin. Cumberland Gap & Char¬
leston RR., and also has an interest in the; Western No. Carolina and
Rogersville & Jeffersonville railroads. A through route via North Caro¬
lina to the sea coast is purposed. A scheme is also broached to consoli¬
date and make a trunk line from Norfolk to Memphis. The bonds due
in 1880 were bought up at par, but not paid off.
This company
leases the Memphis & Charleston Railroad for 20 years, merely paying
its earnings as rental, but agrees for three years from Dec. 2,1879, to
furnish funds to buy up any coupons of the M. & C. road remaining un¬
paid. After the three years the lessee may surrender the lease on six
months’ notice. The last annual report was published in the Chronicle,
V. 31, p. 556, and the earnings and income account for the year
ending June 30,1880, were as follows:
1879-80.
1878-79.
Tenn., to Chattanooga,
to Dalton, Ga., 3t miles;
Passage
Freight
Express and
mail
6,373
Miscellaneous
Total
$270,438
650,087
60,456
$304,283
833,115
69,115
$1,212,887
Expenses
Net earnings
The increase in expenses was mainly due to
renewals and betterments, laying steel rails,
776,994
$435,893
,
6,710
$988,293
620,103
$368,189
the increased outlay foe
ballasting track, and in¬
crease of car equipments, as per following statement, which shows
expenditures made for same, and which expenses were charged to
operating expenses:
Improvements of road, 46 miles steel rails, new ties, ballast, etc. $214,690
Det. Hillsdale d Southw.—Dec. 31,1878, owned from Ypsilanti, Mich., New engines and rebuilding engines
•
19,896
to Banker’s, Mich., 65 miles. The Det. H. & Ind. road was -sold in fore¬ New cars and rebuilding cars
* 33,326
closure December 28,1874, and this company organized by the bond¬
holders. In February, 1880, a working arrangement was made with the
Total betterments charged to expenses
$267,912
Toledo & Ann Arbor road. (V. 30, p. 222.)
The income account and profit ana loss account are as follows:
$435,893
Detroit Lansing d Northern.—Dec. 31, 1879, owned from Grand Trunk Net earnings for the year
13,522
Junction, Mich., to Howard City, Mich., 157 miles; branches—Stanton Interest on Western North Carolina bonds
Junction to Mecosta, Mich., 49 miles; Belding Br’ch, l^j miles; Slaght’s
Total...
$449,415
Branch, l1^ miles; total operated, 209 miles. A consolidation, April ll,
282,779
1871, of the Det. Howell & Lan., the Ionia <fe Lan. and the Ionia Stanton Interest
Sc No. railroads, under the name of Detroit Lansing & Lake Mich. RR.,
$166,635
Surplus for the year
which was sold in foreclosure December 14,1876, and hew stock issued
;■
21,785
as above.
Gross earnings in 1878, $970,033; in 1879, $1,108,932. Net Profit on sale of rails and old rails on hand
HO
earnings in 1878, $372,198; in 1879, $449,145. (V. 28, p. 326; V. 30, Old balances collected
p. 168, 271.)
Total
$188,531
Dubuque d Dakota.—Dec. 31,1879, owned from Waverly, Ia„ to Hamp¬ Various items, old accounts
$3,121
ton, la, 41 miles. Built on the old grading of the Iowa Pac. Dubuque & Dividend of
58,879— 62,001
May 1,1880, 3 per cent
Sioux C. Co. guarantee the bonds issued for construction to the extent of
$10,000 per mile. Bonds may be paid off at any time at 105. No gen¬
Balance to profit and loss for the year
$126,530
eral account as yet published. Bonds as above $10,000 per mile; pre¬
President C*le says in his report: “ The expenditures during the past
ferred stock $10,000 and ordinary stock $5,000; total, $25,000 per mile.
Will be extended eastward from Waverly to Wadena, 45 miles, and year for renewals and betterments have greatly improved the. condition •
356; V. 28, p. 120.)
RAILROAD STOCKS AND BONDS.
December, 1880.]
==
===== = = g
=
discovered in these Tables.
:
===
9
xxix
Subscribers will conrer a great favor by giving immediate notice of any error
DESCRIPTION.
For
explanation of column headings, Ac., see notes
on flrst page of tables.
Bonds—Princi¬
INTEREST OR DIVIDENDS.
Miles
Date
Size, or
Par
of
of
Road. Bonds Value.
Amount
Outstanding
pal,When Due.
Rato per
When
Where Payable, and by
Cent.
Payable
Whom.
Stocks—Last
Dividend.
«
1874-6590
Georgia—(Continued)—
East Tenn. & Georgia ($92,000 are endorsed)
East Tennessee and Virginia (endorsed)
2d mortgage to U. S. Government
East Tennessee Virginia &
112
130
282
Eastern (Mass.)—Stock
Essex RR.lst mort. (extended for 10 years)
m
Mortgage funding certificates
Eastern
(ft. H.)—Stock
Eastern Shore (Md.)—1st
Eel River—Stock
:
50-’56
1856
m
m
16
38
.
mortgage’
I860
'
•
•
•
•
•
•
•
•
1879
1872
Equipment bonds
$535,400
147,000
190,000
4,997^600
100
100 &c.
500 Ac.
100
100 Ac.
100
50
50
1856
1876
m
$1,000
1,000
194,400
13,308,774
492,500
400,000
2,972,800
118,000
1,200,000
500,000
500,000
500,000
1,000
1,000,000
500
50
100 &c.
100 &c.
1,998,400
1875-960. 118877646--959
Elizabethtown Lex. <£ Big Sandy—1st mortgage, gold
Elmira Jeff. <£ Canandaigua.—Stock
Elmira <& Williamsport—Stock, common
Preferred stock
1st mortgage bonds
Income bonds, 999 years to run
Erie dt Pittsburg—Stock
1st mortgage, convertible into
2d mortgage, convertible
Consolidated mortgage free of
State tax
Equipment bonds
Europ’nd N.Am— lstM., Baug’rto Wmn.jBang’rl’n
Evansv. <£ Terre Haute—Stock ($100,000 is pref. 7.)
H.)..
Evanville Ferre Haute <& Chic—1st mort., gold
2d
mortgage, gold
Fitchburg—Stock
Bonds, coupons, ($3,500,000 authorized)
of the road, and these improvements should he
until all the iron rails in the track are replaced
•
•
•
•
•
•
•
1860
1863
....
1862
1865
1868
....
•
56
115
51
109
115
55
55
189
570,000
290,700
92,300
2,194,000
685,000!
1,000,000
1,120,500
1,000
....
1869
1,000
50
....
,
1,000
100
•
•
ioo
•
•
....
8112
8112
8112
consolid. mort
1st mortgage, Evansv. & Ill., sink, fund
1st mort.. sinking fund (Evansville to Terre
Consolidated mortgage (for $1,500,000)
122
47
77
77
77
1852
1854
1880
1870
1873
281,000
611,000
258,000
775,000
1,000
1,000
1,000
1,000
325,000
4,500,000
1,500,000
1,000
100
....
'74-7-9
1,000
continued, wo think,
with steel, which will
6
6
4
3
6
4J2ff.
2*4
6
H
7
6 g.
5
2*2
3*2
6
5
& J. N. Y.,R.T. Wilson & Co.
M. & N.
do
do
J. & J.
M. & S.
M. & S.
J. & D.
J. & J.
a—m.
2*2
7
7
6 '
6 g.
6 g.
3*2
5, 6 & 7
Boston.
do
Boston and London.
Boston, by Treasurer.
Philadelphia.
Boston, by Treasurer.
Q.-M.
J. &
A. &
J. &
A. &
J. &
M. &
J. &
M. &
J. &
M. &
J. &
J. &
A. &
J.
O.
J.
July 15.1873
Sept. 15,1896
Sept., 1906
Dec. 15,1880
Jan. 1, 1900
Dec. 5,1880
Mar. 1,
New York.
Sept. Baltimore, N. Cent. RR.
M. & N. Phila., Penn. R. R. Co.
J. & J.
J. & J.
A. & O.
May 1, 1886
May 1, 1885
Quar.
M. 6c. S.
13l
7
7
7
7
6
1881 to 1886
J.
do
do
do
do
do
do
N. Y., Union Trust Co.
do
do
do
do
do
do
do
do
1902
Sept., 1880
Nov., 1880
Jan., 1881
Jan. 1, 1910
Oet. 1, 2862
Deo. 10, 1880
July 1, 1882
April 1, 1890
July 1, 1898
O.
Oct. 1, 1890
J. Bost., Merch. Nat. Bk. Jan. 1, 1894
N.
Company’s Office.
May 15,1880
J. N.Y.,Farm. L’anA T.Co. Jan. 1, 1887
N.
do
s do
Nov. 1, 1887
do
do
J.
July 1, 1910
N. N.Y.,Farm.L’an & T.Co. May 1, 1900
do
do
J.
Jan. 1, 1903
Dec 13, 1880
D.
Boston, Office.
do
O.
1894, ’97 & '99
5
Elmira Jefferson <6 Canandaigua—Dec. 31, 1879, owned from Canan¬
daigua, N. Y., to Jefferson, N. Y., 47 miles. The road was foreclosed and
reorganized under present name Fob. 18,1859. It was leased to New
probably take about four years to do. The revenue and profits received
during the year were sufficient to pay the operating expenses, renewals York & Erie for 20 years from Jan. 1, 1859, and the lease transferred
and betterments of property as before shown, interest on bonded and to Northern Central Railroad in 1866. Rental, $25,000 per year.
floating debt of the company, and a 3 per cent dividend to the stock¬
Elmira & Williamsport—Dec. 31,1879, owned from Williamsport, Pa.,
holders, leaving a surplus of $126,530, which amount has been carried to Elmira, N. Y., 76 miles. This company was reorganized under the
to credit of profit and loss account, out of which another dividend of 3 present name Fob. 29, 1860, and leased to the Northern Central Rail¬
per cent was subsequently paid on Oct. 1 to the stockholders, amount¬ way for 999 years from May 1,1863, at a rental of $155,000 per annum
ing to $58,879, leaving to the credit of profit and loss account $67,651." since Jan. 1, 1880. The dividends on the common stock are 5 per cent
Darnings for six years past were as follows :
and on the preferred 7 per cent.
Operations are included in the North¬
Gross
Miles.
272
272
272
272
272
272
Years.
Earnings.
Div.
Net
$1,059,986
1,058,954
994,050
1,022,252
$342,464
343,560
325,127
409,609
3
3
3
988,291
368,188
3
1,212,887
435,893
6
The stockholders in October, 1880, voted to increase the stock $5,000,000 by selling to present stockholders 150 per cent on their holdings, at
the price of $30 per $100 share. Of this action the President, Mr. Cole,
said in his report at the annual meeting in November: “This action
on
the part of the stockholders has met with general approval,
so far as vour directors have been informed.
At the same meeting
the board of directors were instructed to buy the Selma Rome
& Dalton Railroad from the syndicate, which purchased it in June last
at Selma, Ala., if it could be done for $2,250,000, payable in 6 per cent
50-year registered coupon bonds of this company, and also to buy the
balance of the stock in the Georgia Southern Railroad. The board of
directors referred both these questions to the committee advisory to the
President, with power to act, and have received its report, and have
also received propositions from the owners of the above roads for their
sale, which are submitted to the stockholders herewith for their action
at this
meeting."
(V. 29, p. 382; V. 30, p. 567; V. 31, p. 429, 510,
556.)
Eastern, Hass— Sept. 30,1879, owned from Boston, Mass., to New
Hampshire State Line, 41 miles; branches—Salem to Marblehead, 4
miles; Beverlfey to Gloucester, 17 miles; Salisbury to Amesbury, 4
miles; Revere to Lynn, 10 miles; Peabody to Wakefield, 8 miles; Salem
to Lawrence, 20miles; others, 14 miles; leased—Eastern RR. of N. H., 16
miles; Newburyport City RR., 3 miles; Portland Saco & Portsmouth, 51
miles; Portsmouth & Dover, 11 miles; Portsm. Gt. Falls & Conway, 71
miles; Wolfeboro Railroad, 12 miles; total operated, 282 miles.
The company became embarrassed in 1875 and compromised with its
bondholders by the issue of a general mortgage to fund all the prior non-
mortgage debts, the new bonds to bear 3^ per cent for three years from
1876, then 4*2 per cent until September, 1882, and 6 per cent thereafter.
Notes payable are $916,400, secured by collateral or real estate.
The last annual report was published in V. 31, p. 509. Operations and
earnings for five years past were as follows:
Passenger
Freight (ton)
Gross
Net
Years.
Miles.
Mileage.
Mileage.
Earnings. Revenue.*
282
69,453,812
34,224,383
$2,412,140 $683,594
282
282
282
282
*
68,502,002
61,706,681
65,403,019
77,081,998
Including other receipts.
39,099,659
39,116,073
44,996,094
61,707,305
Central returns. (V.
Erie & Pittsb—Dec. 31,
ern
Earnings, p.ct.
2,451,323
2,422,394
2,485,977
2,905,056
799,317
871,810
994,785
1,034,927
28, p. 253.)
1879, owned from New Castle, Pa./to Girard,
Pa., 81 miles; branch, Dock Junction to Erie Docks, 3 miles; total op¬
erated, 84 miles. Road opened in 1865. It was leased to the Pennsyl¬
vania RR. for 999 years from March 1,1870, at a rental of 7 per cent
on stock and interest on the bonds, and the lease was transferred to
the Pennsylvania Co. From Girard to Erie, 15 miles, the track of the
Lake Shore & Michigan Southern is used. The lease has been quite un¬
profitable to the lessees; in 1878 the deficiency paid by them was
$217,437 and in 1879 $232,653. Wm. L. Scott is President, Erie, Pa.
-(V. 28, p.377.)
European & Noi'th American.—Sept. 30, 1880, owned from Bangor,
Me., to Vanceboro (State Line), Me., 114 miles. Road opened in 1871,
and worked in connection with the European & North American Rail¬
way of New Brunswick and consolidated with that line Dec. 1, 1872,
'
making an unbroken line from Bangor, Me., to 8t. John, N. B., 205
miles. In 1875 default was made, and the main division went into the
hands of trustees of the land-grant mortgage Oct. 2, 1876, and a new
company was organized October, 1880, which issues new stock for the
land grant mortgage ($2,506,000).
The company had a land grant of
750,000 acres in the State of Maine. In the year ending Sept. 30,1880,
the gross earnings were $408,326 and net earnings
(Y. 27,
p. 148, 251, 628; V. 29, p. 357; V. 31, p. 429.)
Evansville & Terre Haute.—An*. 31, 1880, owned from Evansville,
$128,040.
Ind., to Terre Haute, Ind., and branch, 115 miles. Rockville Exten¬
sion—Terre Haiue Ind., to Rockville, Ind., 23
miles—is leased to
Terre Haute & Logansport.
This was formerly the Evansville &
Crawfordsville Railroad, and took the present name April 1, 1877.
The company has done a very fair business and has paid semi¬
annual dividends since 1877.
Of the stock, $100,000 is preferred;
shares $100, rate 7 per cent, payable March 'and September. Of the
new
consolidated bonds $892,000 were
deposited with the Farmers’ L.
6c T. Co. to exchange for main line bonds as they fell
annual report was published in the Chronicle (V. 31,
year
ending August 31, 1880.
The income account for 1879-80 was
Net earnings
Interest on bonds and loans
due. The last
451) for the
p.
briefly as follows:
Dividends, 5
$81,763
per cent
Balance, surplus
-(Y. 29, p. 459, 488 ; V. 31, p. 45, 451,453.)
Evansville Terre Haute <t Chicago—June 30,
$213,255
50,871—132,634
$80,621
1879, owned from Terre
Junction, Ind., to Danville, Ill., 49 miles; leased, 6 miles; total
operated, 55 miles. Road was opened Dec., 1871. It uses 6 miles of the
track of the Rockville Extension into Terre Haute;
also leases the
Indiana Block Coal road, 14 miles.
On April 30,1880, a lease to the
Chicago & Eastern Illinois was made for 999 years; terms, $75,000
Haute
per annum and the assumption by the C. 6c E. I. of all rentals and
—(V. 29, p. 537, 629; V. 30, p. 144; V. 31, p. 45, 509.)
taxes paid by E. T. H. 6c G. The bonded interest was reduced to 6 per
Eastern {K. H.)—Sept. 30, 1879, owned from Massachusetts State cent and preferred stock for $100,000 issued for overdue coupons. Earn¬
Line to Maine State Line, 16 miles. It was formerly leased for 99 years
ings for three years past were as follows:
to the Eastern (Mass.) Railroad, and a new lease was made from Oct.
Years.
Miles. Gross Earnings. Net Earnings.
1,1878, for 60 years and two months at $22,500 per year, equal to 4*2
55
$222,782
$98,233
per cent per annum. Moody Currier, President, Manenester, N. H.
55
209,673
77,224
242.896
94,236
55
Eastern Shore (Md.)—Dec. 31,1879, owned from Delmar to Chrisfleld,
Md., 38 miles. The road was sold in foreclosure Feb. 19,1879, subject —Josephus Collett, President, Terre Haute, Ind. (V. 30, p. 221, 298.)
to the flrst mortgage. George R. Dennis, President, Kingsland, Md. Act
Fitchburg.—Sept. 30,1879, owned from Boston, Mass., to Fitchburg*
passed Legislature of Md., and signed by Governor (April, 1880,) to re¬ Mass, (double track), 50 miles; branches—Charlestown, 1 mile; Water"
organize road. Stock, $450,000 (partly com. and partly pref.), in shares town, North Cambridge to Waltham, 7 miles; Lancaster 6c Sterling*
of $25. Preferred to receive 6 per cent dividend before any is paid on South Acton to Marlborough, 12 miles; Peterborough 6c Shirley, Ayer,
common.
Mass., to Greenville, N. H., 24 miles; leased and operated—Vermont 6c
Eel River— Dec. 31, 1878, owned from Logansport., Ind., to Butler, Mass. RR., Fitchburg to Greenfield, V’ miles; Turners Falls Branch,
In<L, 94 miles. This was formerly the Detroit Eel River & Illinois RR., 3 miles; Troy 6c Greenfield RR., Greenfield to North Adams, 37 miles;
sold under foreclosure July 6, 1877, and reorganized under present total, 190 miles. The Troy & Greenfield RR. and the Hoosao Tunnel,
name Dec. 10,1877.
In 1878 gross earnings were $206,855 and net owned by the State of Massachusetts, have been operated by this com¬
earnings $67,842. In August, 1879, it was leased to the Wabash St. pany, and are now contracted to it for seven years from Sept. 30,1880.
Louis & Pacific Railroad, at a rental of 3 per cent per annum on the In 1878-9 net income above rentals was $279,740. Operations and earn¬
stock for two years, 4 per cent for three years, and 4*2 per cent there¬
ings for five years past were as follows:
Dir.
after. (V. 28, p. 276; V. 29, p. 226; V. 31, p. 204.)
Passenger Freight (ton)
Gross
Net
Miles.
Years.
Mileage.
Receipts. Revenue. p.Ot.
Mileage.
Elisabethtown Lexington <& Big Sandy— From Lexington, Ky., to
8
152 31,992^341 22,031,844 $1,739,373 $306,139
Mount Sterling, Ky., 33^ miles, was completed in 1873, and is leased by
8
152 29,537,753 41,692,039
321,812
1,859,455
the Louisv. Cin. <fc Lex. RR. Co. Construction is in active progress, and
6
152 30,690,340 53,224,939
1,920,413
342,179
the line to Ashland, Ky., 5 miles, opened September, 1880. The author¬
6
152 32,266,503 68,041,193
1,937,934 347,620
ized issue of bonds is $3,500,000, which will be negotiated only as por¬
6
152 35,094,145 92,832.640
2,079,973
379,212
tions of the road are completed. The authorized capital stoek of the
—(V. 28, p.’i7» 526; V. 29, p. 41, 67, 537; V. 30, p. 4*; V. 31, p. 204.)
company is $5,000,000. (V. 29, p. 66; Y. 31, p. 405.)
Subscribers will confer a great favor
[Vol. XXXI.,
discovered in these Tables.
by giving Immediate notice of any error
Bonds—Princi¬
INTEREST OR DIVIDENDS.
DESCRIPTION.
For
AND BONDS
STOCKS
RAILROAD
XXX
explanation of column headings, Ac., see notes
on first page of tables.
Date
Miles
Size, or
Par
of
of
Road. Bonds Value.
Amount
Outstanding
When
Rate per
Cent.
Where
pal,^When Due.
Stocks—Last
Dividend.
Payable, and by
Whom.
Payable
-
Marquette—PrefeiTed stock (7 per ct.).
Reorganization bonds (redeemable at will)
1st mort., land grant, 3d series
Flint & Holly RR. (sink’g fund $25,000 per year).
Bay City, E. Saginaw, 1st mort., guar by lessees.
Bay County, issued in aid, guar, by lessees
Holly Wayne A Monroe, 1st inort., sinking fund.
Florida Central—1st mortgage, gold, coupon
Flushing Noi'lh Shore d Cent.—1st mort. (FI. AN. S.)
2d mortgage (FI. & N. 8.)
Central of L. I., Extension 1st mortgage
Flint d Pere
59781
Fonda Johnstown d Gloversville^—1st mortgage
Fort Madison d Northwestern— 1st mort., gold
Fort Wayne d Jackson—Pref. stock, 8 per cent
Common stock
Fort Wayne Muncie d Cincinnati—1st mort., gold...
2d mortgage
1st mortgage
Income bonds
Georgia Railroad & Banking
Bonds, not mortgage
*
.
190
17
13
1880
1868
1868
1867
,
65
59
10
100
100
100
1871
1877
1869
1870
1873
1870
1880
1. gr.
Co.—Stock
1,000
280
280
100,000
75,000
1.000,000
1,000
309,000
800,000
400,000
200,000
300,000
700,000
2,000,000
700,000
1,800,000
500,000
345,000
500,000
200,000
500,000
690,000
312,000
500 Ac.
1,000
500 Ac.
100 Ac.
500 Ac.
1869
1871
1871
1871
1879
1,000
1871
1879
1876
1871
1878
1872
500 Ac.
500 Ac.
50
35
307
$1,023,921
977,209
972,684
1,056,017
1,151,201
—(V. 28, p. 69, 146, 223, 525, 599; V. 29, p. 17, 225, 621 ;
117, 518, 648; V. 31, p. 115, 204, 228, 305, 381, 558.)
Florida Central.—June 30, 1878, owned from
300,500
1,000
109
109
109
26
26
28
39
51
256
2=6
1870
6
8
10
10
10
8
7 g.
7
7
7
(?)
1,722,000
500 Ac.
500 Ac.
500
1,000
1,000
1,000
1,000
7 g.
2
1,000
1,000
1,000
100 Ac.
100
500
A
A
A
A
A
A
A
A
A
A
A
S.
N.
J.
S.
J.
J.
N.
N.
N.
J.
O.
Y., Meehan. Nat. B’k.
Sept. 1, 1888
do
' do
Newark. N. J., Sav. Ins.
New York.
N.Y.. Merck. Nat. Bank.
July 1, 1882
Sept. 1, 1887
N.
7 g.
8
8
7
7
7
7
7
7
6 g.
7
7 g.
7 g.
3*2
7
Mav
1.
1888
Jan. 1, 1901
N.Y., Farm. L. A Tr. Co. Jan. 1, 1907
N.Y., Chatham Nat. Bk. May 1, 1889
do
do
do
do
N. Y., St. Nich. Nat. B’k.
N. Y., Union Trust Co.
....
1
....
4,800,000
1,000,000
1,493,000
600,000
4,200,000
425,000
1910
....
M.
M.
J.
M.
J.
J.
M.
M.
M.
J.
A.
7
317,082
Flint d Pere Marquette.—Dec. 31, 1879, owned from Monroe, Mich., to
Lnddington, Mich., 253 miles; branches—Bay City to East Saginaw, 12
miles; Flint Junction to Otter Lake, 15 miles; Junction to South Sagi¬
naw and Harrison, 13 miles; leased, Saginaw & Mt. Pleasant RR., 14
miles; total operated, 307 miles. The company was consolidated June
4th, 1872, with the Bay City A East Saginaw, the Holly Wayne A Mon¬
roe, and the Cass A Flint River railroads.
Road was opened Decem¬
ber, 1874. The company made default on the consolidated bonds, Novem¬
ber, 1875, and part of them were funded. A Receiver was appointed in
June, 1879; the road was sold Aug. 18, 1880, under the consolidated
mortgage, and reorganization was made and preferred stock ($6,500,000)
will be issued for the consolidated mortgage bonds, and common stock
($3,500,000) issued for the old stock of $3,298,300; the common stock
will be entitled to vote only after the preferred stockholders have
received 7 per cent yearly dividends for five consecutive years. During
1879 the land department disjiosed of 38,642 acres of land at an
average per acre of $19 23, the total amount received on sales account
being $743,803 70. On October 1, 1880, the land notes on hand were
$1,047,170 and lands unsold 164,796 acres. Earnings for five years
tf
past were as follows:
Years.
Miles.
Gross Earnings. Net Earnings.
283
283
283
$6,500,000
51
Equipment mortgage
,
Framingham d Lowell—1st mortgage bonds
Frankfort d Kokomo— 1st mortgage, gold
Frederick d Pennsylvania Line—1st mortgage
Fremont Elkhom d Mo. Valley— 1st mortgage
Galveston Harrisb.d S. Antonio— 1st mort, gold,
2d mortgage
Galveston Houston d Hend. of 1871—1st mort
Geneva Ithaca d Sayre—1st mort., s. f., gold
$./..
283
May 1, 1903
July 1, 1900
April 1, 1905Mar. 25, 1880
....
A
A
A
A
A
A.
A.
J.
A.
J.
O.
Oct., 1889
April, 1896
Boston, Ofiice.
O.
do
do
J.
O. Boston National Bank.
J. N. Y., Farmers’L. A T.Co.
July, 1881
April 1, 1891
Jan. 1, 1908
....
A.
A.
A.
F.
J.
J.
J.
J.
J.
O. N. Y., Nat. Park Bank.
do
do
O.
do
H
do
O.
A. N.Y.,D.,M.ACo.,ALond.
Boston and London.
A D.
A J. N. Y., F. P. James A Co.
A J. N. Y., Metrop. Nat. B’k.
A
A
A
A
1901
1899
.
1886
Feb.
1, 1910
June 1,
1895
July 1, 1902
July 1, 1890
Jan., 1881
A D. Augu8ta,Ga., RR. Bank.
do
do
Yearly to 1890
A J.
1879, owned from Frankfort, Ind., to
Capital stock,
$600,000. In May. 1879, this company’s bonds, amounting to $200,000.
and stock, amounting to $600,000, were placed on the New York Board
list. The road connects the Chicago division of the Pan Handle road
and the Indianapolis Peru & Chicago road with the Lafayette Muncie A
Bloomington RR. and the Logausport Crawfordsvillo & Southwestern
RR.
For four years and five months to Dec. 31, 1878, the gross earn¬
ings were $171,234 and net earnings $91,595. In 1879 gross earning*
were $40,896, and net earnings, $22,630.
Coe Adams, President, N. Y.
Frankfort & Kokomo— Jan. 1,
Kokomo, Ind., 26 miles.
Road opened August 10, 1874.
(V. 31, p. 229.)
City.
Kingsdale
Pennsylvania RR.,
little.
Loats, President, Frederick City, Md.
Frederick d Pennsylvania Line.—Dec. 31,1879, ownod from
to Frederick City, Md.. 28 miles.
It is leased to
which pays over the net earnings, which have amounted to very
Stock,
$3i2,528. John
Fi'emont Elkhom d Missouri
110 miles.
Leased to Sioux City
cent of gross earnings.
Scranton, Pa.
per
Galveston
Valley.—Fremont to Oakdale, Neb.,
The rental is 33ij
& Pacific Railroad.
Stock, $846,000.
Harrisburg & San
James Blair, President,
Antonio.—Dec. 31, 1879, owned from
$306,288 narrisburg, Tex.,
10
322,437 miles opened from to San Antonio, Tex., 215 miles. Since Dec., 1879, 30
to
Extension,
371,854 miles. Extensions Houston RioHarrisburg and Lagrange are projected.
to the
Grande and to El Paso
388,786 This was a successor to the Buffalo Bayou Brazos & Col. Railway.
405,289 The road was opened to San Antonio March 1, 1877. The gross earn¬
Y. 30, p. 91, ings in 1879
Jacksonville, Fla., to
Bake City, Fla., 50 miles.
In March, 1868, the old road was sold by the
trustees (the Florida Atlantic A Gulf) and this company organized July,
1868.
The gross earnings in 1877-8 were $163,892; net earnings,
The road was ordered sold September 15, 1879, to satisfy a
claim for $197,000 and 9 rears’ interest, made by foreign holders of
8tate bonds issued in exchange for bonds of this company.
E. M.
L’Engle, President, Jacksonville, Fla. (V. 28, p. 599.)
$41,319.
were
$1,390,679; net earnings,«$818,766.
The capital
$6,450,000, of which $4,638,794 is paid in and $1,811,205 is
represented by lands and bonds. The bills payable Dec. 31, 1879, were
$288,593, and the debt due the School Fund of Texas was $365,842.
stock is
Cost of road and appurtenances, $9,695,982; rolling stock, $813,942;
real estate. Ac., $1,744,092. The first mortgage covers the property
and about 1,800,000 acres of land.
The
of
are
to retire the bonds, and a sinking fund of 1 per cent begins in 1880,
but it is optional with bondholders to surrender
The land grant is sixteen sections (10,240 acres) per
proceeds
laud sales
used
their bonds, if drawn.
mile. T. W. Peirce,
President, Boston, Mass. (V. 30, p. 144; Y. 31, p. 305, 453.)
Galveston Houston d Henderson of 1871.—Dec. 31, 1879, owned from
Flushing North Shore & Central—Sept. 30, 1879, owned from Hunter’s
The road was opened in
Point to Central Junction, N. Y., 16 miles; branches—Woodside to Galveston, Tex., to Houston, Tex., 50 miles.
Flushing, 4 miles; Whitestone Junction to Whitestone, 4 miles; Great 1853-4 and sold in foreclosure Dee. 1, 1871, and reorganized. Mortgage
Neck Junction to Great Neck, 7 miles ; Bethpage Junction to Babylon, 8 debt at date of sale was $5,750,000. Some of the coupons remained qnmiles; total operated, 39 miles. This was a consolidation August 1, paid in the hands of parties interested in the road, and in 1879 a fore¬
1874, of the Flushing A North Side RR., the Central of L. I., the North closure suit was begun by N. A. Cowdrey, one of the trustees of the
In February, 1*880, Mr. Israel Corse, of New York, waa
8hore and other minor roads. In May, 1876, they were leased to the mortgage.
Long Island RR., which failed to pay the rental, but the operations are elected President, and in July the company defaulted on its interest,
Included in that company’s returns.
The Flushing A N. S. mortgages although publishing for five y«ars past their annual net earnings near¬
have been foreclosed. See references to V. 31 below. The paid-up stock ly double the amount of interest charge. Afterwards a stipulation was
entered into for placing the road in trustee’s hands. (See V. 31, p. 305.)
was $814,925. There were in addition to the above $149,000 North
Shore 7s, and $93,000 Whitestone & Westchester 7s.
Central of Long The stock is $1,000,000, of which about one-third is owned by the Inter¬
Island first mortgage foreclosed
677; V. 29, p. 17, 196, 407; V.
p.
and road sold August, 1879. (V. 27,
31, p. 328, 559, 652.)
Fonda Johnstown & Glotct'sville —Sept. 30,1879, owned
N. Y., to Gloversville, N. Y., 10 miles; leased, Gloversville
national A Great Northern RR. Operations and earnings for five year*
past were as follows;
Net
Gross
Freight (ton)
Passenger
Earnings.
Expenses.
Earnings.
Years.
Mileage.
Mileage.
$170,490
$384,183
1875.. 2.618,496
$554,673
180,214
402,198
582,413
1876.. 2,714,660
9,776,631
304,103
148,872
452,975
1877.. 2,833,187
7,657,001
205,055
290,385
495,440
1878.. 2,213,944
8,430,962
307,286
229,560
536,847
1879.. 2,416,653
9,928,275
from Fonda,
A Northville
RR., Gloversville to Northville, 16 miles; total operated, 26 miles. Road
opened Dec. 1, 1870. The stock is $300,000. Net earnings in 1878-9,
$45,702; in 1877-8, $40,383; in 1876-7, $45,066. W. J. Heacock, Presi¬
dent, Gloversville, N. Y.
Fort Madison & Northwestern.—Dec. 31,1879, owned from Fort Mad¬ -(Y. 28, p. 146, 172; V. 30, p. 43,192; V. 31, p. 45, 259,281, 292,305.)
ison, la., to West Point. Ia., 11 miles. Projected line, Fort Madison to
Geneva Ithaca d Sayre.—Sept. 30, 1879, owned from Geneva, N. Y., to
Oscaloosa, la., 100 miles. Under construction, and bonds issued in
Sayre, Pa., 76 miles; branch, Ithaea, N. Y., to Cayuga, N. Y., 38 miles;
New York, 1880, by James M. Drake & Co. (V. 31, p. 154.)
total operated, 114 miles. Organized Oct. 2, 1876, as successor of the
Fort Wayne d Jackson.—Dee. 31, 1879, owned from Jackson, Mich., to Geneva Ithaca A Athens RR., which had been formed by consolidation
Fort Wavne, Ind, 100 miles. This road is successor to the Fort Wayne of the Geneva A Ithaca and Ithaca A Athens railroads, May 25, 1874.
Jackson A Saginaw, which made default on its bonds and was sold in In 1880 absorbed the Cayuga A South. RR., 37 miles. The G. I. A A.
foreclosure Dee. 3, 1879. The 8 per cent preferred stock was issued in having defaulted on its interest was placed in the hands of a Receiver;
March 4, 1875, and the road was sold in foreclosure Sept. 2, 1876, and
this company organized in the interest of the Lehigh Valley RR. The
i place of the old second mortgage bonds. (V. 28, p. 199, 300; V. 29, p.
stock is $850,000 com., and also pref. stock of $850,000 is authorized.
301, 631; V. 30, p. 43.)
Slace of the old first mortgage bonds and interest, and the common stock
earnings in 1878-9 were $302,572; expenses, $475,423; deficit,
$172,850. R. A. Packer is President, Sayre, Pa.
Georgia Railroad d Banking Company.—Augusta, Ga., to Atlanta, Gft.,
171 miles; branches to Washington and Athens, 60 miles; Warrenton,
Ga., to Macon, Ga., 76 miles; total operated, 307 miles. The West¬
Gross
Wayne Muncie d Cincinnati.—Dec. 31, 1877, owned from Fort
Wayne, Ind., to Connorsville, Ind., 104 miles. Opened in 1870. The
coumauy defaulted and a receiver was appointed Nov., 1874. The bond¬
holders are preparing to foreclose and reorganize. Elijah Smith, Presi¬
dent, Boston, Mass. (V. 30, p. 192.)
Fort
ern
Railroad of
Alabama, purchased in
May, 1875, at foreclosure,
Framingham d Lowell.—Sept. 30, 1879, owned from South Framing¬ is owned jointly with the Central Railroad of Georgia. The Macon
ham, Mass., to Lowell. Mass., 26 miles. Road opened Oct. 1, 1871, and A Augusta Railroad, 76 miles, is owned by this company, and it*
was leased from April 1, 1871, to Boston Clinton Fitchburg A New
earnings are now (1880) included in its operations. The Port Royal A
Bedford RR. Co., and since Feb. 1, 1879, operated by Old Colony RR. Augusta Railroad is owned one-fifth by this company.
In February,
Co. On Feb. 14. 1880, a lease of the road to B. C. F. A N. B. Co. for 1880, a contract was made including this road and the Central of Georgia
998 years aud 4 months, from Oct. 1, 1879, was ratified. The stock is to be worked in close connection with the Louisville A Nashville system$512,096, and there are $250,000 8 per cent notes. Negotiations in Tbe annual report for the fiscal year ending March 31, 1880, was pub¬
progress for reducing interest on 1st mortgage to 5 per cent and for lished in the Chuunicle, V. 30. p. 542.
The following table exhibits the operation*,. receipts and net earning*
•anoeling the 8 per cent notes and issuing preferred stock for them.
of the road for 1878-9 and 1879-80;
—(V. 30, p. 192, 408, 493; V. 31, p. 94.J
RAILROAD
December, 1680.]
Subscribers will confer
a
Miles
For explanation of column headings, &c., see note
first page
of tables.
Date
of
of
Road. Bonds
do
•
Grand Haven (Mich.)—Receiver’s certificates
Grand Rapids A Indiana—Stock
1st mort., land grant, gold (guar, by Pa. RR)..
1st mort., gold, ($2,003,000 are land grant)
Income mortgage bonds, for $10,000,000......
Grand Rapids Newaygo A Lake Sh.—1st mort. coup.
2d mortgage coup
Green Bay A Minnesota—1st mortgage, gold
Greenville A Columbia— 1st mort.,guar.by State . ..
Bonds not guaranteed (various small issues)
or
Par
Value.
Gulf Colorado A Santa Fe—Bonds (($12,000
p.
•
•
1877
1880
•
332
332
332
332
35
46
214
143
m
m
•
mile)
Hannibal A St. Joseph—Common stock
Preferred stock (7 p. c. yearly, not cumulative)...
Missouri State loan
Bonds 1870, convertible
•
m
1871
1875
1870
500 &c.
...
.
•
....
100
100
1853-7
1870
1878
15
53
54
54
_
_
1853
•
50
500 &c.
,
1871
1,000
100
m
m
m
•
•
•
100
m
•
....
.
1873
STATEMENT OF EARNINGS AND EXPENSES FOE THE YEAR ENDING MARCH 31.
1879.
1880.
$997,718
$1,169,524
659,325
766,448
$338,392
includ’g interest & dividends $506,522
$607,919
Net earnings
$403,075
Payments—
dividends
$252,000
interest on bonds this company
82,235
interest on bonds M. Sc A. RR
51,777
interest on bonds W. RR. of Alabama.
93,080
93.530
4,124
39,220
83,260
17,645
122,264
$506,522
$607,919
taxes, legal and incidentals
23,305
Total
•Years.
$252,000
years
past
follows:
Gross Earnings.
$1,194,324
1,143,128
1,013,712
Div
were as
997,719
Net Earnings.
$552,646
500,018
286,012
338,393
403,075
p.c.
8
7
3^
6
6
642.192
1.500,000
9,168.700
5,083,024
3,000,000
4,000,000
442,000
433,000
1,200,000
1,182,550
700,000
507,200
1,000,000
820,000
1.180,000
100,000
300,000
150,000
18765-90.
1,600
1867
....
44
120
120
74
1,000
....
....
aontls—Princi¬
pal, When Due.
Stocks—Last
Dividend.
Augusta,Ga., RR. Bank. July 1, 1897
do
Jan.
do
1, 1890
....
'
7*g.
3. N. Y., Third Nat. Bank.
O. N. Y., Winslow, L. 6c Co.
8.
do
do
J. N. Y. Union Trust Co.
D.
do
do
F. Sc. A.
New York.
7
8
7
7 g.
7
«
®
o
'
1899
1906
July 1, 1891
June
1,1905
Aug. 1,1900
1881 to 1886
Columbia, Co.’s Office.
...
®
1899
J. Sc
A. Sc
M. &
J. &
J. &
7 Z-
200.000
Various
M
J. Sc J.
J. & J.
6
6
3,200,000
1,413,071
m
....
R
1869
Balance, surplus
5,000,000
4,000,000
3,013,000
987,000
576,000
1,000
1,000
1,000
1,000
1875
Equipment bonds of 1873
Earnings for five
XXXI
Rate per When Where Payable, and by
Cent.
Whom.
Payable
156.000
160.000
100
1869
1869
m
206
292
Housatonic—Stock
Preferred stock
1st mortgage
2d mort. bonds of 1869
Paid
Paid
Paid
Paid
Paid
Outstanding
$1,000,000
$1,000
1,000
292
Bonds, secured by $2,500,000 IM notes
1st mortgage (Quincy Sc Palmyra RR)
1st mortgage (Kansas City Sc Cam. RR.)
Harrisb. Portsm'th Mi. Joy A Lane.—Stock
1st mortgage
Harrisburg A Potomac—1st mortgage
Hartford A Connecticut Talley— 1st mortgage
Total earnings
Total expenditures
Amount
...
...
Total receipts,
BONDS.
INTEREST OR DIVIDENDS.
Size,
197818757-906 81
Georgia Railroad A Banking Co.—(Continued)—
Bonds, not mortgage
:do
AND
great favor by giving immediate notice of any error discovered In these Tables.
DESCRIPTION.
on
STOCKS
do
....
....
....
....
do
....
3
6
Aug. 2, 1880
Y., B’k. No. America.
8
J. Sc J. N.
M. Sc 8.
7
J.
Sc J. N.
Y., Farm. L. Sc T. Co.
8
Sc A. N. Y., B’k. No. America.
Jan., 1892
Sc J.
do
do
Jan., 1892
Jan. 10, 1881
Sc J.
Phila., Co.’s Office.
do
do
Sc 3.
July 1, 1883
Jan. 1, 1904
J. Sc J. N. Y., Am. Exch. N. Bk. Jan. 1, 1901
10
3i*
6
7
1884-1887
do
-
Mar., 1885
Jan. 1, 1888
F.
J.
J.
J.
•
7
do
fm
m
•
.
2
7
6
7
Q.-J.
F. Sc A.
Bridgeport Sc Boston. Jan. 15, 1881
1885
Bridgeport and Boston.
do
....
do
1889
1883
Texas, 124 miles.
Road opened late in 1878 (63 miles), and sold and
reorganized April 15,1879. An extension completed to Little River,
Tex., 197 miles from Galveston, Sept., 1880, and it was contracted for
to Fort Worth. Stock, $1,2*0,000. George Sealy, President, Galveston,
Texas. (V. 30, p. 408; Y. 31, p. 347.)
Hannibal A St.
Joseph.—December 31, 1879, owned from Hannibal
Mo., to St. Joseph, Mo., 206 miles; branches—Cameron to Kansas City,
53 miles; St. Joseph to Atchison, Kans., 19 miles; Palmyra to
Quincy, Ill., 14 miles; total operated, 292 miles. The main line was
opened
February,
1859.
The
company
had
a
Congressional land
grant and received $3,000,000 in bonds from the State of Missouri, on
which the company pays interest. On Jan. 1, 1879, the company had
about 90,000 acres of land unsold and $2,500,000 of land notes, which
pledged as security for the bonds issued in 1878, and as $25,000
accumulated these bonds are drawn and paid. Prices of stook and
monthly earnings have been as follows:
Prices of Stoek.Monthly Earnings.
were
i
-v
,
-Common.1879. *
1880.
Jan. 158a- 13*4 42 - 33%
Feb. 10V 1458 42 V 38 %
Mar. 16 - 14*2 40V 35%
37V 31
Apr. 213s- 14
May 23 V 175s 34 - 2278
J’ne 22 V 195s 35 V 24%
36V 3130
July 21V 18
Aug. 20 V 18*4 42 V 34
-N
-Pref erred.1879.
1880.
40 - 34
72V 64
44V 37*2 76 - 69*4
45V 42
75 - 695a
1879.
1880.
$
$
137,047
137.038
211,899
176,079
166,965
216,061
44V 38
73V 65
165,444 206,735
1,169,524
45V 40Ss 72V 63*2 134,070 189,125
-(V. 28, p. 501 ; V. 30, p. 434, 542; V. 31, p. 429, 535.)
443s- 40*2 75 - 67
107.560 177,861
Grand Haven.—Dec. 31, 1879, owned from Allegan to Muskegon,
44
3712X7338- 6S*8
99.811 163,484
Mich., 58 miles. The Michigan Lake Shore road was sold in foreclosure
43V 40
86V 7112 141,533 212,896
June 19, 1878, and this company organized Oct. 18, 1878. The stock
176.810 209,058
Sept1 25V 18% 44V 3638 55V 4012 86V 79
is $800,000. James W. Converse, President, Boston, Mass.
Oct. 37 V 243ft 43 V 37 J2 61V 53
90V 80*4 239,735 240,359
Grand Rapids A Indiana.—Dec. 31, 1879, owned from Fort Wayno, Nov. 41V 26*2 45 - 39
70V 52
94V 86% 193,125 204,116
66
55
Ind., to Petoskey, Mich., 332 miles; leased and operated: Cin. Richmond Dec. 35 V 28*8
253,333
Sc Fort Wayne RR.. 91 miles; Allegan Sc 8. E. RR., 11 miles; Traverse
Last annual report was published in the Chronicle, V. 30, p. 296, and
City Railroad, 26 miles; total, 463 miles. This road was opened in May, showed the following income account:
1874." For the terms of the lease of Cin. Rich. Sc Fort Wayne Railroad—
Not income over coupon interest
$153,854
see that company in this Supplement.
The Grand Rap. & Ind. RR. is Proceeds of sale of $261,000 land grant sinking fund bonds... 261,430
operated in the interest of the Pennsylvania RR. Co., and $4,000,000 of
the first mortgage bonds are guaranteed by that company, which buys
Total income
$415,284
the ooupons each year that remain unpaid by the earnings, and on Jan.
Tins sum was accounted for partly as follows: Construction, $92,315;
1, 1880, held ^$1,862,170 unpaid coupons. First mortgage bonds
redeemed by the sinking fund are replaced by income bonds issued. new equipment, $47,587; reduction of funded debt, $67,000; reduction
The company had land grants amounting to 852,960 acres, and sold of bills and accounts payable, $68,679.
Earnings and operations for five years past have been as follows:
in 1879 30,922 acres, for $359,007. From Jan. 1 to Sept. 1,1880, net
Passenger
Freight (ton)
Gross
Net
earnings were $292,831, against $210,631 in same time 1879. Opera¬
Years.
Miles.
Mileage.
Mileage.
Earnings. Earnings.
tions and earnings for five years past were as follows:
Passenger
Mileage.
Freight (ton)
Gross
Mileage.
Earnings.
35,764,557 $1,143,741
Net
.
-
-
292
292
292
292
292
....
13,674,185
52,866,475
15,191,834
15,639,718
19,108,676
21,545,368
76,931,978
....
$1,748,284
$386,735
1,864,065
470,254
Earnings.
80,764,682
1,931,365
795,479
332
13,907,593
$267,108
100,012,716
2,045,450
780,355
332
14,448,942
33,713,086
1,137,539
316,507
111.987,174
773,983
1,997,405
332
13,863,997
35,633,459
1,097,107
348,745
(V. 28, p. 199, 220, 641; V. 29, p. 95, 383, 489; V. 30, p. 296, 650;
332
15,184,660
42,437,701
1,200,629
242,458 V. 31, p. 20, 94, 179, 204, 228, 259, 483, 535.)
332
51.267.197
17,823,880
1,345,134c
432,645
Harrisburg Portsmouth Mount Joy A Lancaster. — Deo 31, 1879,
—(V. 29, p. 146, 299; V. 30, p. 91, 463, 649 ; V. 31, p. 483,.559.)
owned from Dillerville, Fa., to Harrisburg, Pa., 36 miles; branoh,
Grand Rapids Newaygo A Lake Shore.—Dec. 31, 1878, owned from
Grand Rapids to White Cloud, Mich., 46 miles. Extension projected to Middletown, Pa., to Columbia, Pa., 18 miles; total operated, 54 miles.
The property was leased to the Pennsylvania Railroad Co. for 999
Flint Sc Pere Marquette Railroad. A traffic guarantee with Lake Shore
Sc M. 8. provides that 40 per cent of earnings from this road shall be years from Jan. 1, 1801, the rental being 7 per cent on the stook and
interest on the bonds. It is operated as a part of the main line of the
osed to buy up its bonds.
Gross earnings in 1879, $130,129; net, Pennsylvania Railroad.
$68,313. Stock is $533,000. David P. Clay, President, Grand Rapids,
Harrisburg A Potomac.—Dec. 31,1879, owued from Bowmansdale to
Green Bay A Minnesota.—Sept. 30,1879, owned from Green Bay, Wis., Jacksonville, Pa., 25 miles; branch to mines, 2 miles; total operated, 27
miles.
Extensions are projected to. Waynesboro and to Littlestown.
to Marshland, Wis., 209 miles; branches, 10 miles; leased, Winona to
Road opened through in 1878.
Stock is $369,175. Daniel V. Ahl,
Analaska, 28 miles; total operated. 247 miles. Road opened Decem¬ President, Newville, Pa. (V. 31,
p. 652.)
ber, 1873. There are 2d mort. bonds, $2,100,000, 8 per cents, due Nov.
Hartford A Connecticut Valley.—Hartford, Ct., to Fenwick, Ot., 46
1,1893. The company made default and was placed in the hands of a
receiver, and the road was to be sold April 3, 1880, but sale was post¬ miles. Opened in 1871 and 1872. In hands of trustees of first mortgage
poned finally till March 12,1881. See full statement of debt and plan for sometime, and reorganization made in Feb., 1880, as the Hartford 4
of reorganization in Chronicle, V. 31, p. 453. For the year ending Conn. Valley, with stock of $500,000 to $1,200,000 and bonds of $1,000,Sept. 30, 1879, total income was $348,690; net income, $145,933; 000. (V. 28, p. 41. V. 30, p. 116, 144; V. 31, T\ 652.)
Housatonic.—Sent. 30,1879, owned from Bridgeport. Conn., to State
rentals, $20,266; balance, $124,444; capital stock, $7,995,900. E. F.
Hatfield, Jr., is President, N.Y. City. (V. 28, p. 401; V. 29, p. 631; Y. 30, Line, Moss., 74 miles; leased- Berkshire Railroad, Connecticut State Line
to West Stockbridge, Mass., 22 miles; West Stockbridge RR.—West
p. 518; V. 31, p. 358, 453, 559.)
Stockbridge to New York State Line, 3 miles; Stockbridge Sc Pittsfield RR.,
Greenville A Columbia (S. C.)—Dec. 31,1877, owned from Columbia
Vandeuseuville to Pittsfield, Mass., 22miles; N. Y. IIous. Sc N. RR.,
to Greenville, S. C., 144 miles; branches to Abbeville and Anderson,
Brookfield Junction to Danbury, Conn.,'6 miles; total, 127 mtles. Tha
21 miles; total, 165 miles. The company also owns a controlling
Interest in the Blue Ridge Railroad. In 1872-3 the company funded preferred 8 per cent stook was issued in 1845 to pay for laying the road
with heavy iron. The company has voted to issue $700,000 of 5 per
two
years’ interest in new ten-year bonds, ami the new mortgage of 1876 cent bonds to take up $400,000 prior bonds, and to lay steel rails. The
was intended to cover all prior bonds.
The old issues include $236,000 road does a
1st mortg. overdue; $103,060 2d mortg.; $140,000 nou-mortg.; $163,- ment of its steady business, as may bo seen from the following state¬
operations and earnings for five years past:
131 funded int.; and $123,500 mortg. bonds due 1895. In 1878 a receiver
Net Dlv.*.
Gross
Passenger Freight (ton)
took possession. Sold in foreclosure April 15,1880, but sale
disputed, Years.
Miles.
Mileage.
Mileage.
Earnings. Earnings. Fref
and in August, 1880, new bids were ordered by court and the sale was
126
6,057^566
14,557,208 $655,236 $238,413
afterward confirmed aqd reorganization in progress. Gross earnings in
223,989
126
588,166
11,658,923
5,869,968
1879 were $435,919; net, $80,000, against $182,132 in 1878. James
569,198
126
208,253
11,528,000
6,166,592
Conner, Receiver, Columbia, 8. C. (V. 27, p. 227; V. 28, p. 553; V. 30,
248,420
126
598,335
12,741,554
6,340,830
P. 822, 384, 408; V. 31, p. 68, 94, 259, 453, 588.)
126
246,558
740,997
Gulf Colorado A Santa Fe.—Owned from Galveston to Brenham, -(V. 30, p. 273, 464, 509.)
Years.
Miles.
.
STOCKS AND
llAILKOAD
XXX11
Subscribers will confer a great favor by
giving immediate notice of any error
Date
Size, or
Par
of
of
Road. Bonds Value.
Miles
explanation of column headings, Ac., see notes
on first page of tables.
Amount
.8577811876.
7
9
Roust, Bast <£ West Texas— 1st mortgage, gold
Houston <6 Texas Gent.—1st M., (main) gold, l.gr.,s.f.
1st mort., 1. gr., West div. (Hempstead to Austin)
let M., gold.Waco A N’west (Bremond to Ross) —
Consol. iuGi t., land grant, Main and Western Div.
do
do
Waco & Northwest
Income and indemnity hds, 3d M. on road A lands.
63
345
119
58
464
58
1878
1866
1870
1873
1872
1875
1877
1854
1857
1865
Outstanding
$180,000
6,262,000
2,270,000
$1,000
1,000
1,000
1,000
1,000
1,000
1,000
969,000
3,642,000
580,000
2,500,000
11874-5690
6565781 78
Huntingdon <£ Broad Top—1st mort., gold
2d mortgage, gold
3d mortgage
.consolidated
Redemption, 1st and 2d series
Mortgage bonds, sterling
Sterling bonds, (sinking fund £20,000 yearly)....
Mortgage, sterling
($2,000,000) M. onCh. A Sp. RR
($200,000), mort. on K. A 8. W. RR
Bonds, coup.
reg.
..
Illinois Midland— 1st mortgage, gold
Indiana Bloomington «6 West.—1st
let mortgage, coup., may be reg
Income bonds, reg., convertible
2d mortgage
mort.,pref
Indianapolis Decatur & Springfield— 1st mortgage .
2d mort., (income till July, 1881), convertible —
Indianapolis <£ St Louis—1st mort., in 3 series
2d mortgage
Equipment bonds
Indianapolis & Vincennes— 1st mortgage, guar
2d mortgage,
guaranteed
58
58
58
706
706
706
706
111
37
147
202
202
202
202
152
152
72
72
72
117
117
1,000
1864
1875
1874
1875
1877
500 &c.
1878
1,000
1875
1879
1879
1879
1879
1876
1876
1869
1870
£200
£200
£200
1,000
100
500
100
500
4,175,000
600,000
3,500,000
Ac.
Ac.
Ac.
&c.
1,500,000
1,500,000
1,700,000
1871
1867
1,000
1,000
1,000
1,000
1,000
500 Ac.
1870
1,000
1,700.000
1,450,000
31,1879, owned from Houston, Tex.,
to Goodrich, Tex., 63 miles. (Narrow guage, 3 feet.) It is intended to
build to Marshall. The company has a Texas land grant of 10,240
acres for each mile constructed and equipped.
Bonds are issued to
the extent of $7,000 per mile. Paul Bremond, President, Houston, Tex.
—(V. 30, p. 467, 544.)
Houston Bast <£ West Texas.—Dec.
Houston d Texas Central.—April
416,000
367,500
1,500,000
29,000,000
2,500,000
2,500,000
4,393,000
1,000,000
1,600,000
200,000
500
500
100
1,256
Illinois Central—Stock
Bonds,
[Vol. XXXI.
discovered in these Tables.
INTEREST OR DIVIDENDS..
DESCRIPTION.
For
BONDS.
30,1879, owned from Houston. Tex.,
to Denison, Tex., 341 miles; branches—Hempstead, Tex., to Austin,
Tex., 115 miles; Bremond, Tex., to Ross, Tex., 54 miles; operated—
Texas Central Railroad, Ross to Morgan, 43 miles; total operated, 553
miles. Opened March 11,1873. The Austin Branch, or Western Div.,
was opened in 1871.
The company has a land grant from the State of
5,240,000 acres;
the line
reported,
by the construction of the Texas A Pacific line. The capital stock is
$7,722,900. In 1877 the company was embarrassed and application
Texas of 10,240 acres per mile, amounting to about
but the lands, as in the case of other Texas roads, are not on
of the road, and much of the land will be made available, it is
made for a Receiver; but the difficulties were adjusted by the issue
of income and indemnity bonds, and fMr. Morgan, of the Louisiana SS.
Line, bought a controlling interest in the stock.
The last report
was
of
2,669,000
2,000,000
906,000
500,000
Years.
*
Rate per
Cent.
7 g.
7 g.
7 g.
7 g.
8
8
7
7 g.
7 g.
7
3
6
6 g.
5 g.
5 g.
6
6
7 g.
7
3 to 6
6
3 to 6
7
7
7
7
8
7
6
When
Where
Payable, and by
Whom.
Payable
N. Y., Kountze Bros.
N.
J. N. Y., J. J. Cisco & Son.
do
do
J.
do
do
J.
do
do
O.
do
do
N.
do
do
M. & N.
&
&
&
&
A. A
M. &
M.
J.
J.
J.
A.
F.
A.
M.
A.
A.
A.
J.
J.
F.
J.
J.
A.
J.
J.
A.
J.
& O.
& A.
& O.
& S.
Philadelphia, Office.
do
do
do
do
Bonds—Princi¬
pal, When "Due
Stocks—Last
Dividend. *
1898
July 1, 1891
July 1, 1891
July 1. 1903
Oct. 1, 1912
May 1, 1915
Mar.1887
Oct. 1, 1890
Feb. 1, 1895
April 1, 1895
Sept. 1. 1880
April 1, 1890
& O.
April 1. 1805
& O.
& O. London,Morton R.A Co. April 1, 1903
N. Y., Co.’s Offiee.
N. Y., Co.’s Office.
London.
Dec. 1, 1905
do
do
D.
Jan. 1, 1898
N. Y., Co.’s Office.
J.
do
do
A.
Jan. 1, 1905
J.
J. N.Y., Corbin Bank’g Co. Jan. 1, 1900
April 1, 1909
do
do
O.
do
do
April 1, 1919
J.
do
do
April 1, 1909
J.
0. New York, Co.’s Office. Jan. 1, 1906
do
do
July 1, 1906
J.
Various N. Y., Union Trust Co. July 1, 1919
Oct, 1, 1900
do
do
A. & O.
do
do
July 1, 1881
J. & J.
1908
F. & A. N. Y., Farm. L. & T. Co.
1900
do
do
M. A N.
&
&
&
&
&
&
&
&
&
&
i
Miles.
1,108
1,108
1,108
1,256
1,256
Passenger
Mileage.
50,828,505
51,238,031
46,076,845
43,849,207
44,586,972
Div.
Net
Gross
Freight (ton)
Earnings. Earnings.4 p.c.
Mileage.
284,650,911 $7,802,556 $2,670,081
264,602,314 7,040,969 2,144,776
249,345,941 6,639,845 2,546,561
306,345,691 7,111,184 3,015,229
335,470,860 7,234,464 3,196,920
Deduct rentals and taxes.
29, p. 301; Y. 30, p. 91,218.)
operated from Terre Haute, Ind.,to
Peoria, Ill., 176 miles, of which 148 miles are owned and 28 miles leased.
This was a consolidation Nov. 4,1874, of the Peoria Atlanta & Decatur,
Paris A Decatur and Paris A Terre Haute. Receiver appointed Sept.
—(V. 28, p. 95, 198, 199; V.
Illinois Midland—June 30,1879,
11,1875. Earnings in 1878-9 $249,299; expenses, $292,443; deficit,
$43,144. Louis Genis, President and Receiver, Terre Haute, Ind.
Indiana Bloomington & Western.—Dec. 31, 1879, owned from Indian¬
apolis, Ind., to Pekin, Ill., 202miles; track used on rental, Pekin to
Peoria, 10 miles; total operated, 212 miles. This was formerly the Ind.
Bloom. & West., opened Oct. 1. 1869. The company defaulted Oct. I,
1874, and a Receiver was appointed Dec. 1,1874. The road was sold in
foreclosure Oct. 30, 1878, and the present company organized. The
new securities were placed on the New York Stock Exchange list No¬
vember, 1879, on the following statement: 1. Preferred first mortgage
7 per cent bonds, due in 1908, to the amount of $1,000,000.. 2. First
earnings—to April 30,1880—gave the following :
Gross Earn’gs.
Oper’g Expenses.
Net Earn’gs
1880
$3,409,743
$1,556,595
$1,863,148
1879
3,301,631
1,720,559
1,311,072 mortgage bonds, due in 1909, to the amount of $3,500,000. Interest is
No other annual statement has been published, and the following is payable at the following rates: 3 per cent per annum for the first three
from the report for 1878-9:
years, 4 per cent for the succeeding two years, 5 per cent for the suc¬
GENERAL BALANCE, APRIL 30, 1879.
ceeding three years, and then 6 per cent until maturity. The mortgage,
Construction
$7,722,900 by its terms, cannot be foreclosed for non-payment of interest until
$21,870,020 Capital stock
14,586,500 January 1,1884. 3. Second mortgage bonds to the amount of $1,500,Equipment
1,831,342 Funded debt
315,494 000. These bonds are payable in 1919, and bear 3 per cent per annum
974,153 Sch’ol fd.l’n(St.of Tex.)
Real estate
Lands gr’nt’d by Texas
2,106,557 interest for the first three years, 4 per cent for the succeeding two years,
5,240,000 Bills payable
157,929 5 per cent for the succeeding three years, and 6 per cent thereafter
Sundry securities
503,780 Accounts payable
Materials and supplies
178,794 until maturity. 4. $1,500,000 income bonds, payable 1919, with such
146,988 Pay-rolls and vouchers
Interest accrued
330,319 interest from July 1, 1879, not exceeding 6 per cent per annum, as the
Bills receivable and
cash
5,521,091 net earnings may suffice to pay after satisfying the interest and sinking
353,302 Surplus
Total
$30,919,587 fund upon the preferred and first and second mortgage bonds. These
Total
$30,919,587
bonds are convertible into stock.
5. $2,500,000 capital stock. 6.
—(V. 29, p. 41, 118, 119; V. 30, p. 273, 675; Y. 31, p. 328, 349.)
$830,000 stock scrip, which is entitled to a dividend of 7 per cent per
Huntingdon & Broad Top.—Dec. 31,1879, owned from Huntingdon, annum, after the payment of interest and a dividend of 8 per cent on
Pa., to Mt. Dallas, Pa., 45 miles; branches—Shoup’s Run,9 miles; Six- the common stock. After the payment of a 7 per cent dividend, the
mile Run, 4 miles; and SandyRun, 3 miles; total operated, 61 miles. stock scrip is convertible into common stock. Of the preferred bonds
This road was opened in July, 1856. The capital stock is $930,000 com¬ $600,000 have been issued to pay expenses of foreclosure and prior
mon and $1,122,800 7 per cent preferred stock.
Interest was passed for liens, and $400,000 more may be issued if needed, Earnings for four
a time on the consolidated mortgage bonds.
The freight business is years past of I. B. A W. (including extension) and for last two years end¬
mainly m coal. Operations and earnings have been as follows for the ing June 30,1878-9 and 1879-80, of present company were as follows:
Net Earn’gs.
Gross Earn’gs.
past five years :
Miles.
Years.
Passenger
Freight (ton)
Gross
Net
$317,04~4
343
$1,432,352
Years.
Miles.
Mileage.
Mileage.
Earnings.
Earnings.
522,980
343
1,558,418
61
896,175
14,940,303
$325,011
$120,442
334,711
343
1,281,241
61
1,041,203
11,693,975
272,456
95,448
266,079
334
1,342,323
334
61
752,137
10,369,597
261,410
110,077
375,700
202
1,085,938
202
61
754,787
12,146,492
238,890
132,693
491.Q86
202
1,186,347
202
795,931
253,525
141,304 —(V.
61
13,056,514
V. 30, p. 169, 192, 384; V. 31, p. 380,
29, p. 277, 302, 329, 5
—(V. 30, p. 168.)
405, 535.)
owned from
Illinois Central.—Dec. 31, 1879, owned from Cairo, Ill., to Chicago’
Indianapolis Decatur d Springfield.—August 31, 1880,
HI., 365 miles; Northern Division, Centralia to Dunleith, 341 miles
Decatur, Ill., to Indianapolis, Ind., 153 miles. Road opened through
other lines owned and leased—Kankakee & Southwestern RR., Otto, Ill., Feb. 9,1880. The first and second mortgage bonds were placed on the
to Anchor, 56 miles; Kankakee & Western Kempton, westward, 12 N. Y. Stock Exchange list in January, 1880. This company is successor
miles; Chicago & Springfield RR., Gilman to Springfield, 111 miles; to the Indiana & Illinois Central Railroad. The firsts are for $1,800,GlK);
Dtib. A Sioux City RR., Dub. to Iowa Falls, 143 miles; Iowa Falls & the seconds are $2,850,000 in amount, convertible into stock after Jan.
Sioux City Railroad, Iowa Falls to Sioux Falls, 184 miles; Cedar 1, 1885, with the first ten coupons payable only out of net earnings but
Balls A Minn. RR., Waterloo to Minn. State Line, 75 miles; total operated,
to be paid in scrip if net earnings are insufficient, and have thirty years
1,287 miles. This company was organized in March, 1851, and the' to run; amount issued, $2,669,000. The stock, of which very little is
whple road opened Sept., 1855. The terms of the leased lines in Iowa issued, is $500,000 in $50 shares. Gross earnings in 1879-80, $339,are given under the names of those companies. The general mortgage of 850; net, $142,684.
(V. 28, p. 277, 624; V. 30, p. 67; V. 31, 427.)
1874 provides for all bonds outstanding. It is limited to $15,000,000.
Indianapolis d St. Louis.—Dec. 31,1879, owned from Indianapolis to
The Illinois Central was one of the first, and has been one of the
Terre Haute, Ind., 72 miles; leased line, St. L. A. & T. H, 189 miles, and
most successful, of the land grant roads.
The company has ac¬ branches, 6 miles; total operated, 267 miles. The lease of the St. L. A.
quired a controlling interest in the Chicago St. Louis & New A T. H. was guaranteed by two other companies, and suit has been
Orleans Railroad, to which it has made large advances, and owns
as to the rental.
The company is controlled by the Pennsyl¬
$1,600,000 of the first 'mortgage • bonds, $5,023,000 of the second pending
vania Company, which owns the stock of $600,000, in connection with
mortgage bonds, and 61,000 shares of the stock. The Chicago & Spring- the Cleve. Col. Cin. A Ind. Of the first mortgage bonds series “A” are J.
field Railroad was a reorganization of the Gilman Clinton & Springfield
A J.; series “B,” M. A 8.; series “C,” M. AN. In 1879 interest on
in 1877, and is leased to the Illinois Central and virtually owned by it.
The annual report for 1879 says: “ Comparing the net traffic with that equipment 8s was not paid. Operations and earnings for five years past
were as follows;
of 1878, the increase is $181,691. The net amount yielded in 1879 by
Passenger
Freight (ton)
Gross
Net
the traffic was $3,196,920, and the net receipts from land, above all ex¬
Years.
Miles.
Earnings. Earnings.
Mileage.
Mileage.
penses, amounted to $102,572.
In addition, the company received
265
11,922,681
79,811,222 $1,513,881 $325,9d6
$102,321 interest on its investment in bonds secured by the first mort¬
265
10,889,483
100,902,991
1,657,863
431,645
gage of the Chicago St. Louis & New Orleans Railroad Co. Thus the
1,385,874
477,882
266
8,211,025
92,684,115
aggregate net income was $3,401,815. The outlays for equipment, to266
85,300,579
315,115
10,865,239
1,347,246
266
12,209,092 102,630,114
1,493,876
491,149
iese deductions there was still a balance of income-for the year of $617,(V. 27, p. 41, 409, 454, 603; V. 28, p. 377; Y. 29, p. 95; V. 31, p. 405
204, which, added to $1,455,635 at credit of4 Income’ at the close of pre¬
vious year, makes $2,072,839 now carried forward to the credit of that
Indianapolis d Vincennes.—Dec. 31, 1879, owned from
•>
acoount.” Operations and earnings for five years past were as follows:
Ind., to Vincennes, Ind., 117 miles. The Pennsylvania Company owns ft
,
§ether with other construction charges, aggregated $386,016. After all
Indianapol1
■
Subscribers will confer a
great favor by giving immediate
explanation of column headings,
on first page of tables.
International d Great
6781
&c., see notes
Northern—Consol, stock
money,” gold
1st mortgage, “ purcli.
2d mort. income “purchase
money”
Iowa Falls d Sioux City—Stock
1st mortgage. April 1, ’69
Ithaca Auburn d West— 2nd M.
Jacksonv.. Pens.dMob.—Florida
Jacksonville Southeast
—
(income for 3 yrs)..
State bonds, gold...
-Jefferson(Pa.)—1st & 2d morts. (Hawley Branch)..
let mortgage (Susquehanna to Carbondale)
Jeffersonville Madison d
Indianapolis—Stock
Indianapolis & Madison, 1st mortgage
Jeff., Mad. & Ind., 1st M. (s. f. $15,000 per year).
do
do
2d mortgage
Jersey City d Bergen—1st mortgage
Joliet d Northern Indiana—1st mort., guar by M. C.
Junction (Philadelphia) —1st mortgage.....
2d mortgage
Junction d Breakwater—Funded debt (Del. St. loan)
7981
2d mortgage
Kansas Central—1st mortgage (for $2,400,000) —
Kansas City Burlington d Santa Pc—1st mortgage.
mortgage ($15,000 per mile)
Kansas City Fort Scott d Gulf— 1st m. 1. gr. s, f
Mortgage on branches
.“.
Kansas City Lawrence d Southern—1st mortgage...
New
Southern Kansas &
Sumner County
Miles
of
Western—1st mortgage
RR.—1st mortgage
Kentucky Central—2d mortgage
3d mortgage
Size
Date
of
notice ot any error discovered in tbese
519
559
519
1879
1879
184
27
250
31
9
38
226
186
159
159
6
44
4*2
•
•
•
•
45
•
•
•
1869
1877
1870
1867
1869
1870
161
126
288
40
21
99
99
Outstanding
'
500 &c.
100
500 &c.
100 &c.
....
300;000
1,000
1,000
2,000,000
2,000,000
100
397,000
2,382,000
500 &c.
1,000
1,000
....
2,000,000
385,000
800,000
1,000
1,000
1,000
....
1879
1880
1879
1880
1879
1880
1880
1853
1855
Rate per
Cent.
$5,500,000
6,024,000
4,724,000
4,623,500
2,947,500
498,090
4,000,000
1,000,000
1877
1862
1865
1876
84
42
Amount
par
Value.
....
1862
1866
or
$....
1,000
Road. Bonds
-
Stock
XXX Ul
Tables.
Bonds—Princi¬
INTEREST OR DIVIDENDS.
DESCRIPTION.
For
BONDS.
STOCKS AND
RAILROAD
1880.]
ni i ] r,
455,000
300.000
400,000
250,000
504,000
600,000
....
1.000
1,500;000
4,000,000
1,325,000
2,940,000
545,000
1,000
1,000
.
.
.
.
1,000
1,000
«
300,000
792,000
l,00u
233.000
1,000
Where
When
pal,^When Duo*
Stocks—Last
Payable and by
Dividend.
Whom.
Pay’ble
6 g.
8
1
7
7
8
7
7
Nov. 1, 1910
Sept. 1, 1900
Dec. 1, 1880
M. & N. N Y., National City B’k
M. & S. N Y., 26 Exch’ge Place.
Boston.
Q.—M.
A. & O. N. Y., Nat. Park Bank.
J. & J. N. Y. City, Treas. Office.
New York.
J. & J.
J. & J. Honesdale Nat. Bank.
J. & J. N. Y., by Erie Railroad.
Q.— F. N. Y., Farm. L. & T. Co.
do
do
M. & N.
do
do
A. & O.
do
do
J. & J.
...
7
7
7
7
7
6.
6
6
6
7
8
7
7
J.
J.
A
J.
F.
A.
I
& O.
....
Office, 80 Broadway.
....
'
Boston, Office.
do
do
do
do
S. N. Y., Bank
do
<fc D.
M. &
of America.
do
1, 1889
1, 1880
May
1, 1881
Oct.
1, 1906
July 1, 1910
July 10,1907
July 1, 1882
April 1, 1900
1890
Feb., 1896
,
April 1, 19001910
New York. 1
Boston, Co.’s office.
do
do
A. & O.
J. & J.
J.
1887 & 1889’
Jan.
Nov.
& J. N. Y., Farm. L. & T. Co.
& J.
Philadelphia Office.
do
do
O.
& J. Lewes, Del., Treasurer.
do
do
& A.
J. & J.
J. & J.
....
4 to 6
7
7
7
7
Oct. 1. 191T
Jan. 1, 1907
1900
1909
Jan. 1,1910*
1910
March. 1883
June, 1885
Jersey City d Bergen.—Dee. 31,1879 owned from Jersey City to Bergen.
controlling interest in the stock and operates the road, advancing
Point, N. J., 6 miles.
In 1878 gross earnings were $224,817; net, $80,*
deficiency to pay interest on the bonds. The capital stock is
421. In 1879 gross earnings were $228,758; net, $84,457. Stock
In 1879 the net earnings were $64,025; in 1878, $5,349; in 1877, a
$165,150. William Keeney, President, Jersey City. (V. 30, p. 566.)
deficiency; in 1876, $17,973; in 1875, $32,709. The annual interest on
Joliet d Northern Indiana.—Dec. 31,1879, owned from Joliet, Ill., to
the debt amounts to $206,000. (V. 28, p. 18, 377.)
Lake Hatron, Ind., 45 miles. Operated as part of the Michigan Central
International d Great Northern—Dec. 31,1879, owned from Longview
main line. Road opened in 1854 and leased to the Mich. Cent, at 8 per
Tex., to Houston, Tex., 236 miles, andPalestine, Tex., to Austin City, Tex.
cent on the bonds. The Mich. Cent, declined to pay 8 per cent, and tho
181 miles; branches—Troupe, Tex., to Mineola, Tex., 44 miles;
above issue of bonds definitely guaranteed was given as a compromise.
Tex., to Huntsville, Tex., 8 miles; Houston. Tex., to Columbia, Tex.,
miles; leased, 10 miles, Round Rock to Georgetown; total operated,
Junction (Philadelphia).—Dec. 31,1879, owned from Belmont, Pa., to
miles. Since above date, has acquired the Henderson & Overton
Gray’s Ferry, Pa., 3 6 miles It connects various lines coming into Phila¬
Railroad — miles, and extended from Austin to San Antonio. This was a delphia. Capital stock, $250,000.: Net earnings n 1878 were $87,963.
consolidation of the Houston & Great Northern Railroad and the Dividend, 14 per cent. (V. 31, p. 453.)
Intemat’1 RR. of Tex. on Sept. 22,1873, The company made default on
Junction & Breakwater.—Dec. 31,1879, owned from Harrington to
its bonds, and a Receiver was appointed in April, 1878. Sales in fore
closure were made July 31 and October 14,1879. The plan of reorgan¬ Lewes, Del., 40 miles; branch to Rehoboth, 5 miles; total operated, 45ization was reported in the Chronicle (V. 27, p. 95,331). The stock miles. Gross earnings, 1879, $80,260; net, $34,285. Stock is $305,000'
authorized is $25,000,000. In the reorganization the lands of the com¬ N. L. McCready, President, New York City.
Kansas Central.—May 1, 1879, owned from Leavenworth to Garrison,
pany, amounting to about 5,000,000 acres, were
second mortgage bondholders in full settlement for their lien on the
Kan., 119 miles. Sold under foreclosure of first mortgage April 14,1879.
which was thereby discharged. The present income bonds were
Reorganized April, 1879. Stock, $504,000. L. T. Smith, President
for one-half of old mortgages and overdue interest. Interest at 4 per Leavenworth, Kan.
cent for the year 1879 was paid on these—2 per cent March 1 and 2 per
Kansas City Burlington & Santa Fe.—Dec. 31,1878, owned from Otta¬
cent Sept. 1,1880. In December, 1880, a controlling interest in
wa Junction to Burlington, Kan., 43 miles; leased, Ottawa to Ottawa
stock was bought by Mr. Jay Gould. Operations and earnings for five Junction, 3 miles; total operated, 46 miles. Road opened April 1, 1878.
years past were as follows:
Stock, $600,000. Extension of 700 miles proposed (Kansas City, Mo., to
Freight (ton)
Passenger
Gross
Net
Santa Fe, New Mexico), and mortgage
and notto exceed
Mileage.
Mileage.
Earnings.
Earnings. $15,000 per mile of completed road. Afor$11,000,000appointed in Dec.,.
Miles.
Years.
Receiver was
7,206,313
25,493,465 $1,408,303 $615,963 1880. Wm. H. Schofield, President, Burlington, Kan. (V. 30, p. 408,.
459
7,883.200
30,017,844
1,453,996
591,872 510, 536; V. 31, p. 578.)
459
9,008,250
35,909,691
1,560,455
466,248
519
7,841,041
39,579,080
1,636,585
571,983 Kansas City Fort Scott d Gulf.—Dec. 31,1879, owned from Kansas City,.
1878.
519
43,969,649
7,534,957
1,775,861
578,087 Mo., to Indian Territory, 160 miles; leased—Baxter, Kan., to Joplin, Mo.,.
1879
519
16 miles; Ft. Scott Junction to Findlay, Kan., 15 miles; total operated,
—(V 28, p. 351,428 ; V. 29, p. 41, 120, 357, 459 ; Y. 30,p.
191 miles. In 1880 acquired the Memph. Kan. & Colorado Railroad, 44
518; V. 31, p. 205,382, 638. 652.)
Iowa Falls d Sioux City.—June 30, 1879,-owned from Iowa Falls, la., miles, and completed line to Lamar, Mo., operating a total of 269 miles
in Nov., 1880. This company was organized April 1, 1879. as succes¬
to Sioux City, la., 184 miles. This road was opened in
sor to the Missouri River Fort Scott & Gulf, which made default Oct. 8,
to the Illinois Central for 20 years from Oct. 1,1867, at a rental of 35
1873, and was sold in foreclosure February 4, 1879. The stock is
per cent of the gross earnings for 10 years and 36 per cent for
$4,000,000 common and $2,750,000 8 per cent preferred. The
ing 10 years, which percentage in the year ending March
was
the
cent
the
$1,402,000
ik-
Phelps
50
529
conveyed to the
road,
issued
the
91,169, 248,
1870 and leased
the remain¬
31,1879,
rawback of in per cent on $177,466. and from their line over the
t176,111 and 10 1879-80 was business to This company also receives a
Dubuque & Sioux City RR. Horace Williams is President, Clinton, la.
Ithaca Auburn d Western.—Dec. 31,1879, owned from Freeville to
Scipio, N. Y., 27 miles. The New York & Oswego Midland RR. was sold
in foreclosure, and this company organized Sept. 20,1876, as the suc¬
The stock is $970,000, and there is a first mortgage authorized
of $500,000 for building to Auburn & Ithaca, of which $19,000 bonds are
cessor.
first
the new mort¬
stock
issued. In May, 1880
30, p. 465*
Operations and earnings for five years past have been as follows:
Netr
Gross
mortgage bondholders of
old road took 80 per
in
gage bonds, and for all other claims
was
new bonds on branches were issued, as per circular, V.
Miles.
1875
1876
1877
1878
1879
Passenger
Mileage.
160
Years.
3,953,320
Freight (ton)
Mileage.
23,054,779
30,567,648
Earnings. Earnings..
$677,843 $196,910
229,2221
902,094
227,177
865,734
115,567
833,835
332,811
895,864
160
4,589,110
28,131,154
160
4,977,670
George Opdyke, President, N. Y. City.
32,301,278
160
5,203,933
35,972,107
Jacksonv. Pensacola d Mob.—Dec. 31,1878, owned from LakeCity, Fla.,
160
5,585,154
to Chattahoochee, Fla., 150 miles; branches--Junction (main line) to
; V. 29, p.
Monticello, 4 miles; Tallahassee to St. Mark’s, 21 miles; total operated, -(V. 28, p. 42,146, 624
175 miles. The present company was organized in 1870, and the State of p. 122, 483, 588.)
Kansas City Lawrence d South.—Dec. 31,1879, owned from Lawrence,
Florida issued to the company $4,000,000 of State bonds in exchange for
$3.,000,000 of the company’s first mortgage bonds and $1,000,000 of the Kan.,to Coffeyville (Indian Ter. Line), 144 miles; branches—Ottawa
Florida Central RR. first mortgage bonds. Interest has been in default Junction to Olathe, 32 miles; Cherry vale to Independence, 10 miles ;
and the road has been in the hands of a Receiver. Net earnings in 1878, leased, So. Kansas & West., Independence to Wellington, 104 miles;
total operated, 290|miles. In April, 1880, So. Kansas opened to 105 miles
$44,429. (V. 28, p. 578, 599.)
H
issued.
1,1878, owned from Jacksonville to from Independence. This company was formerly the Leav. Law. & Galv.
the Jacksonv. Northw. & Southeast. RR., RR., which was sold in foreclosure Aug. 9,1878, and purchased by bond¬
projected from Jacksonville to Mt. Vernon, 125 miles, and finished as holders, and the present company organized May, 1879. For terms of
above. Bonds were issued at $20,000 per mile, amounting to $600,000.
agreement with leased roads and status of securities, see V. 30, p. 519*
In 1879 the company was reorganized by the bondholders under this The capital stock is $2,940,000. In Nov., 1880, the road was to bo pur¬
name, without any debt. M. P. Ayers, Jacksonville, Ill., was the former chased in the interest of the Atchison Top. & S. Fe, aocording to theterms of the circular published in the Chronicle of Nov. 27,1880 (V*
Pr0@iQ.cnt*
Jtfferson.—Sept. 30.1879, owned from Susquehanna Depot, Pa., to Car¬ 31, p. 559). Annual report in the Chronicle, Y. 30, p. 543. Gross
bondale, Pa., 37 miles; branch, Hawley, Pa., to Honesdale, Pa., 8 miles; earnings in 1879, $495,238; net, $129,579. The present bonds carry 4
percenttill 1882, 5 in 1882-3, and 6 thereafter. (V. 28, p. 42, 351, 401#
total, 45 miles. Leased
7 per cent on the bonds
623; V. 30, p. 384, 519, 543 ; V. 31, p, 381, 559.)
Capital stock, $2,096,
Kentucky Central.—April 30,1879, owned from Covington, Ky., to Lex¬
Jeffersonv. Madison d Indianapolis.—Dec. 31,1879, owned from Louis¬ ington, Ky., 99miles, and Paris, Ky., to Mavsville, Ky., 50 miles; total
ville,. Ky., to Indianapolis, Ind., 110 mites; branches—Madison, Ind., to operated, 149 miles. This was formerly the Covington & Lex. RR.,whieb
Columbus, Ind., 46 miles; Columbus. Ind., to Sheibyville, Ind., 23 miles; was foreclosed in 1865. In 1875 the present company was formed, and'
Jeffersonville, Ind., to New Albany, Ind., 6 miles; Shelby & Rush RR., took possession May 1,1875. The Maysv. & Lex. RR. was taken Nov*
18 miles; Cambridge Extension, 21 miles; total operated, 224 miles. 17, 1876. The preferred stock is $500,000 and the common stock
The road was leased January 1,1873, to the Pennsylvania Company, $4,500,000. In Nov., 1880, dividends were paid of 3 per cent on pre¬
the lessees to pay the interest and sinking fund or bonds and 7 per ferred stock and 1 per cent on common. Annual report, V. 30, p. 623*
cent per annum on the stock. The lease was guaranteed by the Pennsyl¬ Operations and earnings for five years past were as follows:
-Divid’s, p.ct.—*
Net
Gross
vania Railroad. Earnings for five years past 'were as follows:
Div.
Net
Jacksonville Southeastern.—July
Virden, Ill., 31 miles. This was
Years.
1875
1876...
—(V. 28 p.378)
Gross
Miles
161
161
161
186
186
Earnings.
$1,224,147
1,171,874
1,176,174
1,150,014
1,246,333
Earnings.
444,005
499,033
425,887
p. c.
7
7
7
7
492,863
7
$468,281
Miles.
Years.
99
1875-76
149
1876-77..
....149
1877-78
1878-79... ....149
149
1879-80...
-(V. 30, p. 623)
...
....
....
...
....
Earnings.
$663,113
706,476
648,342
553,389
608,029
Earnings.
$307,572
304,007
246,694
208,750
222,514
Pref.
6
6
6
6
6
-
Com.
8^
4
3
2
2
RAILROAD
XXXIV
Subscribers will confer
a
on
e >lumu
first page
Miles
Leadings, Ac.,
see
note*
of tables.
162
49
38
Size,
1878
’69-’72
1876
*
365
165
•
Sandusky Extension, 1st mortgage
■
•
•
23
23
200
200
50
22
17
do
income bonds
Lafayette Bloom. A Muncie, 1st mort., gold
do
do
income M. con. (non-cumul.)
Lake Ontario Soulhern— 1st mortgage, gold
Latcrence—Stock
1st mortgage
Lake Shored:
Date
of
©f
Road. Bonds
KeokukdDes Moines—1st M., int. guar. C. R. I. A P.
Knox d Lincoln— 1st mortgage
Knoxville d Ohio— 1st M. (payable on 30 days’ not.)
New bonds for $1,300,000
Lake Erie d Western—Stock
:
let mortgage, gold
Income bonds convertible (not cumulative)
do
AND
Michigan Southern—Stock
*
*
»
.
•
.
•
•
451
95
258
162
162
88
88
88
62
37
12
13
58
Kalamazoo, Allegan & Gr. Rapids, 1st mortgage.
$2,750,000
500
•
1879
1879
•
•
1,485,000
327,000
1,000
1,000
1,000
1865
1,000
336,000
100
100
49,466,500
533,500
«
•
m
m
600,000
2,500,000
1,000,000
1,000,000
450,000
50
,
1870
1870
1873
1872
1855
1867
1869
1855
1866
1862
1866
1868
1876
1869
1867
1867
1868
1,000
charges.
0/1/11
\
1,000
1,000
500 Ac.
1,000
1,000
1,000
1,000
500 Ac.
1,000
•
•
•
■
m
m
m
m
m
m
m
m
*
*
*
*
A divi¬
(V.
Knox d
559, 6c6.)
miles; total operated, 362 miles. This
was a
consolidation, Dec. 12,1879,
of the Lafayette Bloomington A Muncie and the Lake Erie A Western, on
the basis following: The consolidated
company to assume all the debts,
issue its stock share for hbare for the Erie A Western stock, and issue
four shares ot its stock for each share of the Lafayette
Bloomington A
Muncie stock. The absolute interest charge—the interest on the income
bonds being contingent only—would be $258,900
yearly, or $707 per
mile of road. The line embraces the former
Lafayette Bloomington A
Mississippi road and the Lake Erie A Louisville. (See the following
pages in the Chronicle : V. 29, p. 329, 407, 538, 631; V. 30,
p. 17, 567;
427 )
Lake Ontario Southern.to Stanley, N. Y., 34 miles.
.
This company was a consolidation, Dec. 2»
Lawrence.-
Dec. 31, 1879, owned from Lawrence
Junction, Pa., to
Youngstown, O., 18 miles; branch from Canfield Junction to Coal Fields,
O., 4 miles; total operated, 22 miles. The branch was built by another
company and merged in this company
23, 1873. The Lawrence
Railroad was leased June 27, 1869, to April
Pittsburg Fort Wayne A Chicago
RR. at 40 per cent on gross
earnings, with $45,000 per year guaranteed
as a minimum. Lease has been transferred to
Pennsylvania Co., by which
the road is now operated. Sinking fund has
$19,000 bonds, deducted in
amount of bonds given above. Gross
earnings in 1879, $173,452; net
earnings, $78,074; rental received from lessee, $69,380.
Lake Shore d
Michigan Southern.—Dec. 31,1879, owned from Buffalo,
N.Y., to Chicago, Ill., 540 miles; branches owned, 324 miles. Other lines
owned as follows: Detroit Monroe A Toledo, 62
miles; Kalamazoo A
White Pigeon, 37 miles; Northern Central
(Mich.), 61 miles; total, 160
miles. Roads leased are as follows: Kalamazoo
Allegan A Gr. Rapids,
58 miles; Jamestown A Franklin, 51 miles;
Mahoning CoalR., 43 miles;
total, 152 miles. Total road’owned, leased, and operated, 1,177 miles.
This company was a consolidation of the Lake Shore
Railroad and
Michigan Southern A Northern Indiana Railroad May 27,1869, and the
Buffalo A Erie Railroad August 16, 1869.
The consolidated line em¬
braces the former roads of the Cleveland A Toledo and the
Cleveland
Painesville A Ashtabula railroads. Of the
guaranteed stock, the claim
for dividends between 1857 and 1863 has been settled on
$360,600,
leaving $172,900 still unsettled. Of the ordinary stock the company
owns 2,679 shares ($267,900), which
appear among its assets in the
balance sheet. The income account for the
year 1890 (December partly
was as
follows:
1880.
,
Gross earnings
Net earnings
$8,310,000
$15,271,492
8,934,524
(58*50)
per
$6,336,968
2,754,988
$5,560,000
Balance
1879.
2,750,000
Interest, rentals, Ac
share
Balance 'or 1880, appropriated
Dividends, Aug. 1880, Feb. 1881
8inking fund fo.* 1880
Surplus
v.
'
$18,720,000
10,410,000
(55-61)
Operating expenses
Percentage of earnings
Equals
•
•
•
•
•
•
M. A N. N. Y.,
Metropolitan Bk. May 1, 1919
do
do
Yearly.
May 1, 1899
A. A 6. N. Y., Union Trust Co. April 1, 1910
Q.—J.
Pittsburg Office.
Jan., 1881
F. A A. N. Y., Winslow, L. A Co.
F. A A. N.Y.,Grand Cent.Offloe.
F. A A.
do
do
J. A J.
7
Q.—J.
7
7
7
7
7
J.
A.
M.
A.
7
7
7
7
920,000
1,356,000
1,595,000
849,000
200,000
300,000
2,834,000
924,000
400,000
100,000
100,000
840,000
•
Aug. 15. 1919
J.
A.
A.
J.
M.
A.
7
7
7.
F.
J.
J.
J.
J.
8
8
8
A
A
A
A
A
A
A
A
A
A
Aug., 1895
Feb: 1. 1881
Feb.
§2
2a
D.
O.
N.
0.
O.
J.
O.
J.
S.
O.
A A.
A J.
A J.
A J.
A J.
-3
§
1. 1881
July 1, 1900
July 1, 1900
Deo. 1, 1903
Oct. 1, 1882
May 1, 1885
Oct. 1, 1892
April 1, 1899
July 1, 1885
April 1, 1886
July 1, 1882
Sept. 1, 1886
April 1, 1898
Aug. 1, 1906
Jan. 1, 1890
July 1, 1887
July 1, 1887
July 1, 1888
^
a)
Sag'S
gglgi
g ap gp
O
The first mortgage debt of the
company was diminished from
$23,000,000 to $22,750,000 in 1879 by the regular contribution of
$250,000 to the sinking fund, which now amounts to $2,250,000 first
mortgage bonds purchased and canceled. The second mortgage debt
was increased
$665,000, which represents the cost of $1,732,500 first
mortgage bonds and $1,384,700 of the capital stock of the Chicago A
Canada Southern Railway Company. This
purchase gives L. S. A M. S.
ooutrol of Chicago A Can. Southern. It extends from the Detroit
River,
at Grosse Isle, to Fayette, Ohio, a distance of 67 miles. From
Fayette
to Butler, an important station on the Air Line, and the eastern terminus
of the Eel River Railroad, a distance of
only about 35 miles, the road is
graded. The last annual report is published in V. 30, p. 490, containing
the tables below, showing the operations and the
earnings of the road
a
years .*
0
INCOME ACCOUNT.
1876.
Interest and (livid'ds.
$
4,374,342
212,216
1877,
1878.
$
$
4,541,194 * 5,493,166
171,776
197,662
Total income
4,586,558
4,712,970
Net
earnings
1879.
$
6,336,968
172,806
,
5,690,828
6,509,774
$
$
$
$
Rentals paid
272,675
265,404
251,924
257,489
Interest on debt
2,646,180
2,628.6^0
2,611,180
2,616,955
Dividends, guar
(10) 53,350 (10) 53,350 (10) 53,350 (10) 53,350
Dividends, ordin’y. (3*4) 1,607,661 (2) 989,330(4)1,978,660 (*)3,215,322
Ashtabula accident..
495,722
77,909
60,128
Miscellaneous
4,378
37,544
‘
Balance, surplus
.6,692
276,106
680,261
306,530
Total
*
4,586,558
6^ per
4,712,970
5,690,828
16,509,774
cent.
t During the year $473,100 of worthless assets were written off.
The net surplus in 1879 was disposed of as follows, to wit:
Sinking
Sept. 30,1879, owned from Sodus Point. N.Y.-
1879, of the Ontario South and the Geneva Hornellsville A Pine Creek
railroads. The line is from Sodus Point, N. Y., to West
Branch, Potter
County, Pa., 155 miles, of which 34 miles are in operation. The stock is
$2,800,000, and bonds for $3,000,000 issued at $20,000 per mile of com¬
pleted road. E. B. Pottle, President, Naples, N.Y. (V. 30, p. 434, 466.)
„
Aug. 15, 1899
Y.,F.irm. L. A T. Co.
Disbursements—
Lake Erie d Western .—Dec. 31, 1879, owned from
Fremont, O., to
Bloomington, Ill., 353 miles; branch, St. Mary, O., to Minster, O., 9
estimated)
F. A A. N. Y., Metropolitan Bk.
do
do
August.
J. A J.
do
do
7
f
\
AAA
Lincoln.—Sept. 30. 1879, owned from Bath, Me., to Rockland, for series of
The road was opened in Nov., 1871. In the year ending
Dec. 31,1879, the gross earnings were $104,366 and
net.earuings $ 17,300.
The stock is $354,580. On city and town bonds, interest is
mostly paid
by the municipalities. John T. Berry, President, Rockland, Me.
Receipts—
Knoxville d Ohio—June 30, 1879, owned from Knoxville, Tenn., to
Careyville, Tenn., 39 miles. This was formerly the Knoxville & Kentucky
RR., which was in default to the State of Kentucky and sold Oct. 8,
1871. It is controlled by the East Tennessee Virginia A
Georgia. The
stock is $1,080,100.
C. M. McGee, President, Knoxville, Tenn. (V. 31,
Oct. 1, 1923
1880-1902
Jan. 1, 1906
7
4
5
5,255,000
,
Stocks—LmX,
Dividend.
Various Bost., Hide A L’ther Bk.
J. A J. N. Y., R. T. Wilson A Co.
A. A O. N.
6 g7
6 g-
10,460,000
2,705,000
1,000
Me., 49 miles.
p.
•
1,000
1.000
Where Payable, and by
Whom.
6 g7
6
1,815,000
1880
1880
1879
1879
1880
•
When
Payable
())
7,700,000
1,000
1,000
o
Bonds—Princi
pal,When Due
5
6
7
500,000
•
dend of 1% per cent on preferred stock was paid December, 1880.
31,
Rate per
Cent.
Outstanding
2,395,000
Keokuk d Des Moines.—June 30, 1879, owned from
Keokuk, la., to
Des Moines, la., 162 miles. This was a reorganization, Jan. 1, 1874, of
the Des Moines Valley Eastern Div., sold in foreclosure Oct. 17, 1873.
The property was leased for 45 years from Oct. 1, 1878, to the
Chicago
Rock Island A Pac. RR. on the terms following: that the lessee pay 25 per
cent of the gross earnings to this company, but guarantee the interest
(not the principal) on the present bonds. The stock is $1,521,600 of 8
per cent preferred and $2,600,400 of common, a majority of which is
held by the lessee. In the year 1878 -9 gross earnings were $565,556.
in 1879-80, $639,788, leaving $22,447 over interest
31, p. 652.)
Amount
$100Ac.
•
864
864
864
Buffalo & Erie, mortgage bonds
Det. Monroe & Tol., 1st mort., coup., guar
Kalamazoo & White Pigeon, 1st mortgage
Schoolcraft & Three Rivers. 1st mortgage
Kalamazoo & Schoolcraft, 1st mortgage
V.
(Tol XXXI.
INTEREST
or
Par
Value.
*
1181
Guaranteed 10 per cent stock
Consol. 1st mort., (sink, fund, 1 per cent) coupon.
do
do
do
registered
Consol. 2d mort., do. (for $25,000,000) coup. A reg
Income bonds, coupon
or registered
1st mortgage, sinking fund, M. 8. A N. I
3d mortgage (C., P. & A. RR.) registered bonds..
Lake shore dividend bonds, April, 1869
1st mortgage (C. & Tol. RR.) sinking fund
2d mortgage
do
Buffalo A State line, mortgage bonds
do
do
p.
BONDS.
great favor by giving Immediate notice of any error discovered In tbese Tables.
DESCRIPTION.
For explanation
STOCKS
$3,581,980
(1124)
as
(7*24)
follows:
1..
$3,957,320
!...!!
1,352,680
250,000
fund, $250,000; Ashtabula accident, $58,672; balanoe, $33,005; total,
$341,677. Nothing was charged to construction or equipment in 1879.
The operating expenses include 9,500 tons steel rails.
The miles of
track now laid with steel rails are 1,100. Included in
operating expenses
is about $250,000 expended for additional
equipment, improvements at
Ashtabula Harbor, real estate, Ao., which items hare heretofore been
charged to construction.
The financial results of the ten years sinoe consolidation are shown
by the following condensed table:
Operating
Gross
Miles.
Year.
Earnings.
1870.. 1,013
$13,509,236
1871.. 1,074
1872..
1873..
1874..
1875..
1876..
1877..
1878..
1879..
1,136
1,175
1,175
1,175
1,177
1,177
1,177
1,177
'
14,898,449
17,699,935
19,414,509
17,146,131
14,434,199
13,949,177
13,505,159
13,979,766
15,271,492
Interest, leases
Net
and dividends
Expenses.
Per cent. Earnings, on Guar. Stock,
61-95
$5,140,415 $1,828,897
65-64
5,118,643
2,121,164
66-90
5,860,409
2,201,459
70-90
5,667,911
2,654,560
6504
5,993,760
3,008,193
72-96
3,902,698
2,810,294
68-64
66-37
60-70
58*50
4,374,341
4,541,193
Div.
p. o.
8
8
8
4
3^4
2
2,759,989
2,775,657
2,718,792
4
2,754,988
5,493,165
6,336,968
6if
The following condensed tables show the passenger and the
business in detail for the past six years, 1874-1879:
1*
freight
FREIGHT.
Year.
Tons.
1874.. 5,221,267
1875..
1876..
1877..
1878..
1879..
Tons
one mile.
Per ton per mile.
Revenue. Receipts i.
Cent.
$
Cost.
Cent.
.
Profit.
Cent.
999,342,081
11,918,350
1-180
•767
•413
5,022,490
5,635,167
5,513,398
6,098,445
943,236,161
1,133,834,828
1,080,005,561
1,340,467,821
9,639,038
1-010
•737
9,405,629
9,476,608
•817
•864
10,048,952
•734
•561
•573
•474
•273
•256
•291
•260
7,541,294
1,733,423,440
11,288,260
•634
•398
•244
PASSENGERS
Year.
1874..
1875..
1876..
1877..
1878..
1879..
Passengers
Passengers.
one
mile.
Per passenger per mile.—*
Cost.
Profit.
Revenue. Receipts.
Cent.
$
Cent.
3,096,263
Cent.
2-452
173,224,572 4,249,022
1-595
•857
3,170,234 164,950,861 3,922,798
2-378
L-735
•643
3,119,923 175,510,501 3,664,148
2 090
•652
1-438
2,742,295 138,116,618 3,203,200
2-319
1-539
•780
2,746,032 133,702,021 3,057,393
2-287
1-166
1121
2,822,121 141,162,317 3,138,003
2-223
1-448
•775
-(V. 27, p. 602, 645; V. 28, p. - 473, 618; V. 20, p. 170, 602, 657; V.
30, p. 478, 490 V. 31, p. 20, 259.)
/
Subscribers will confer a great
favor by giving
explanation of oolumn headings, Ac., see notes
on first page of tables.
Lehigh d Lackawanna—1st A 2d mortgages
Lehigh Valley—Stock, common andpref
—
1st mortgage, coupon and registered
2d mortgage, registered
Consol. mort., gold, $ A £ (s. fd. 2 p.c. y’ly) cp. A reg.
Easton & Amboy, 1st mortgage (for $6,000,000).
Delano Land Company bonds, endorsed
Little Mia mi—Stock, common
1st mortgage
Street connection bds (Jointly with Cin. A Ind.RR.)
Little Rock d Fort Smith—New stock
1st M., Id gr’t (1,083,000 acs) s.fd. (for $3,000,000)
Little Rock Miss. River d Texas—1st mortgage
Little Schuylkill—StocK
1st mortgage, sinking fund, extended 1877
Long Island—Stock
25
301
101
101
232
60
196
84
1863
1869
1877
1868
1870
1873
1880
1872
i.65
165
100
31
31
1875
1876
1877
158
1860
1868
1st mortgage, extension
1st mortgage, Glencove Br
1st mortgage, main
.
2d mort. for floating debt ($1,500,000).:
Newtown & Flushing, guar
New York & Rockaway, guar. int.
Smithtown & Port Jeflerson.
Amount
Outstanding
$310,000
397,000
500,000
600,000
50
27,428,855
5,000,000
1,000
6,000,000
1,000
14,304,000
1,000
1,000 Held by L.V.
1.697,000
1,000
50
4,637,300
1,492,000
1,000
475,000
1,000
4,096,135
500 Ac.
2,650,000
1,250,000
50
2,646,100
468,000
1,000
50
3,260,000
500
175,000
500 Ac.
150,000
500
1,121,500
100 Ac.
986,772
500
106,500
500
250,000
1188774--6590.
10
19
1871
65
only
1877
1851
1867
1,000
1877
100 &c.
175
175
500
,
1,000
1879, owned from Bethlehem, Pa.,
opened in 1867. It is
by Central RR. of
first mortgage, and
to Wind Gap, Pa., 25 miles.
This coal road was
leased to the Lehigh Coal A Nav. Co., and operated
New Jersey. Of the above bonds, $100,000 are a
the $500,000 second mortgage are income bonds.
100. Gross earnings in 1879 $31,942; net earnings,
600,000
114,900
100,000
2,900,000
764,700
Where
per| When
Cent.
Payable
i
J
Payable, and by
Whom.
Bonds—Princi¬
pal,When Due.
Stocks—Last
Dividend.
A. A O. )
3
( Oct. 1, 1880
J. & J. >See preceding page. < Var.to J’ly,’97
7
June 1, 1894
J. A D.
7
Dec. 1, 1907
J. A D.
Philadelphia.
7
Jan. 15,1881
1
Philadelphia, Office.
Q.-J.
June, 1898
J. & D. Reg. atofflee, cp.B’kN.A
6
Sept., 1910
M. A S. Phila., Bank of N. Amer.
7
1898 A 1923
6 £• 'J. & D.
Philadelphia, Office.
1920
do
do
M. & N.
5
do
do
J. & J.
Jan., 1892
7
Dec.. 1880
Cincinnati.
2
Q.—M.
do
(?)
J. & J.
6
1894
do
Various
6
1,000
1,000
1,000
1868
1878
1873
1871
95
156
4
Atlantic Ave. improvement certs
Jjouisv.Cin. dLex— Louisv.l’n(toLouis v. AFrankf.)
Louisville Cincinnati & Lexington, 1st mort
New mortgage, coupon, for $1,000,000
Rate
’
1853
1864
Tables.
INTEREST OB DIVIDENDS.
$....
51
51
XXXV
immediate notice of any error discovered in tbese
Date Size, or
Miles
of
Par
of
Road. Bonds Value.
Lake Shore d Michigan cou(hem—{Continued)—
Kal. Allegan A Gr. Rapids, stock, 6 per ct. guar..
Jamestown A Franklin, 1st mortgage
do
do
2d mortgage
Lehigh d Lackawanna.—Dec. 31,
BONDS.
V
DESCRIPTION.
For
AND
STOCKS
RAILROAD
December 1880.]
7
7
31*
7
J. & J.
A. & O.
7
6
7
7
7
7
7
M.
M.
M.
F.
M.
A.
M.
7
6
7
7
_
....
•
■
Boston, Treasurer.
J. & J.
•
•
A
A
A
A
A
A
A
.
Philadelphia Office.
do
Companv’s Office.
•
N.
N.
N.
A.
N.
0.
N.Y., Drexel, M. A Co.
do
do
do
do
do
do
do
S.j
•
J. A J.1 N.Y., Imp
do
J. A J.i
do
A. A 0.
laneous receipts, $182,063. The land
sold.
(V. 28, p. 401; Y. 50, p. 17, 43,
do
do
do
do
do
do
do
A Trad.N.Bk.
do
do
Jar.
Jan.
1, 1905
1, 1896
July, 1880
Oct., 1882
1873
May, 1890
May, 1884
May, 1898
Aug. 1, 1918
May. 1891
April, 1901
Sept., 1901
1881-82
Jan., 1881
Jan., 1897
1907
grant is about 867,000 acres un¬
192, 384; V. 31, p. 305.)
Little Rock Mississippi River & Texas.—Dec. 31, 1879, owned from
to Pine Bluff,
Capital stock, $375,- Arkapolis, Ark., operated, 100 75 miles, and Arkapolis, Ark., to Collins,
25 miles; total
miles. Additional branches were opened
$7,894.
in February, 1880. This company was a Reorganization of the Little
Lehigh Valley—Nov. 30.1879, owned from Phillipsburg (Pa. Line), N. Rock Pine Bluff & New Orleans Railroad and the Mississippi Ouachita
J., to Wilkesbarre, Pa., 101 miles; branches—Penn Haven to Audenried, A Red River Railroad. Both those companies received land grants
18 miles; Hazle Creek Bridge to Tomhicken (and branches), 32 miles; and State aid bonds. The stock is $2,606,900. J. E. Redfleld, President,
Lumber Yard to Milnesville (and branches), 18 miles; Black Creek Junc¬
tion to Mt. Carmel (and branches), 61 miles; Slatedale branch, 3 miles;
also owns the Easton & Amboy RR., Amboy, N.J., to Pennsylvania Line,
total operated, 293 miles. This is one of the most important of
the so-called “ coal roads," and has been able to maintain moderate
dividends during the past years of depression. It is one of the peculiar!
ties of the company’s annual report that no general balance sheet is
given. The earnings, expenses and income account for the fiscal year
ending Nov. 30,1879, were as follows:
60 miles;
Net
Gross
Receipts.
From—
Coal
$4,011,444
Freight..
Passengers, Express & Mail.
1,488,578
432,302
$5,932,325
Totals
1878
5,532,738
Increase (*) or decrease (t)... *$399,587
The income from all sources, including
ments, Ac., amounted to
Expenses.
$1,853,673
859,998
283,309
Boston, Mass.
(V. 30, p. 169.)
Little Schuylkill.—Nov. 30, 1879, owned from Port Clinton, Pa., to
Catawissa RR. Junction, 28 miles; branches, 3 miles; total operated,
31 miles. The East Mahanoy RR., was leased Jan. 12,1863, for 99 years,
and sub-leased to Phila. A Reading July 7, 1868. The Little Schuyl¬
kill Railroad is leased to the Philadelphia & Reading Railroad for 93
years
is
from July 7, 1868, at a fixed annual rental. Of the stock,
and no dividends are declared on this.
held by the company,
$158,260
Long Island.—Sept. 30, 1879, owned from Long Island City, N. Y., to
branches,
$2,157,771 Greenport, N. Y., 95 miles; operated in63 miles; total owned, 158 miles.
Other roads controlled and
1878-9 were as follows:
Receipts.
628,579
148,993
$2,996,981
2,456,926
$2,935,344
*$540,054
t $140,467
3,075,811
interest received from invest¬
$6,540,363
Name—
Miles.
19*0
Name—
Smithtown & Pt. Jefferson RR.
Stewart RR. to Bethpage
Stewart RR. to Hempstead...
New York A Rockaway RR...
Brooklyn & Jamaica RR
Newtown & Flushing RR
New York & Flushing RR
Miles.
-
Central Extension RR
8*1
Whitestone branch
4*0
Great Neck branch
6*7
Woodside & Flushing branch.. 3*9
Southern RR
51*5
Hunter’s Point & So. Side RR.
1*5
14*5
1*8
8-9
9‘6
3-9
2-7
Far Rockaway branch
9*4
5*3
15-9 South Hempstead branch
Net income
".
$3,543,382
The total of all the roads owned and operated is 326 miles. The Long
Out of which there was paidinterest on Bonds
$1,557,900 Island RR. went into the hands of a Receiver October, 1877. The sec*
Dividends—four per cent on Common Stock
1,095,523 ond mortgage bonds are issued to take up floating debt of various
classes. Several of the leased roads have been foreclosed under their
General expense, interest on floating debt, taxes, loss on
Morris Canal and on coal operations
866,595 mortgages, and are now operated under temporary arrangements.
The control of the company sold to Mr. Austin Corbin and others in
$3,520,<'19
December, 1880.
Leaving.
$23,363 The annual report for the fiscal year ending September 30,1879, pub¬
to be carried to the credit of the profit and loss account. Operations and lished in the Chronicle, Y. 30, p. 65, made the following exhibit:
1877-8.
earnings for flve years past were as follows:
1878-9.
Net
Gross
Mis. Freight,
$1,524,932
Passenger
Total receipts
$1,617,949
1,019,000
Earnings.* Earnings.
Miles.
Mileage.
Years.
Mileage.
1,279,590
Operating expenses
267 17,416,448
58,912,500 $6,046,495 $2,783,633
1874-5..
3,206,897
$505,932
7,049,647
302 33,388,877
69,902,718
1875-6..
Net earnings
$338,359
3,325,215
6,488,037
86,712,311
301
1876-7..
16,657,397
Payments other than for construction wrere as follows1877-8.
3,075,811
1878-9.
5,532,738
303 13,718,758 112,557,966
1877-8..
2,935,344
$1,019,000
5,932.325
303 15.082,571
150,540,605
1878-9..
Transportation expenses
$1,279,590
*
196,606
Does not include receipts from interest, Ac., which are large.
Interest
205,173
145,614
193,304
Rentals of other roads
—(V. 28, p. 95 ; V. 30, p. 91, 219.)
Proportion of earnings for other roads and
Little Miami—December 31, 1879, owned from Cincinnati, O., to
39,400
ferries
107,660
20,000
Springfield, O., 84 miles; branch, Xenia, O., to Dayton, O., 16 miles; Funded debt
138,350
leased, Columbus A Xenia Railroad, Xenia to Columbus, O., 55 miles;
Floating debt accrued previous to appoint¬
104,688
Dayton A Western Railroad, Dayton, O.. to Indiana State Line, 37 miles;
ment of receiver
:
31,799
Ohio State Line to Richmond, Iud., 4 miles; total operaed, 196 miles. The
Little Miami Railroad proper extends from Cincinnati to Springfield, but
Total
$1,955,878
$1,506,328
the portion between Xenia and Springfield is now operated as a branch;
In the year 1878-9 payments of $111,240 were made on account of con¬
for the remainder of the main line, as given above, the Columbus A
Xenia road, Columbus to Xenia, is used. The Little Miami road was struction and equipment. Earnings for five years past wereas follow*:
Net Earn’gs.
Gross Eam’gs.
Miles,.
opened in 1846 and the Columbus A Xenia in 1850, and on November Years.
$213,504
$828,840
199
30,1853, a partnership contract was entered into between the two com¬
398,796
1,149,897
259
panies. On January 1,1865, they leased the Dayton A Western (Dayton
412,701
1,473,178
323
to Indiana State line) and the Richmond & Miami (State line to Rich¬
497,895
1,497,914
323
mond), and on February 4,1865, purchased the road from Xenia to
338,359
1,617,950
325
Dayton; these three roads go to form the branch of 57 miles given
above. The partnership agreement was dissolved November 30,1868, —(V. 28, p. 378 ; V. 30, p. 65, 322; V. 31, p. 588.)
and a contract made by which the Columbus A Xenia road, including
Louisville Cincinnati d Lexington.—June 30,1880, owned from Louis¬
its interest in the above-named branches, was leased to the Little Miami
for 99 years. On December 1, 1869, the Little Miami, with all its ville, Ky., to Lexington, Ky., 94 miles; Junction to Newport, Ky., 81
miles; leased—track; at Louisville, 4 miles; Lexington, Ky., to Mount
branches, Ac., was leased to the Pittsburg Cincinnati A St. Louis Rail
Sterling, Ky., 34 miles; Shelby Railroad, 19 miles; total operated, 233
road Company for 99 years, renewable forever.
The Pennsylvania miles. The old road was sold in foreclosure Oct. 1,1877, to the second
Railroad Company is a party to the contract and guarantees its faith¬
The stock is
ful execution. Road is now operated by Pennsylvania Company. Lease mortgage bondholders, and this company was organized.
rental is 8 per cent on capital stock, interest on debt and $o,000 per $1,000,000 common and $1,500,000 preferred, having been increased in
Nov.. 1880. In 1879 important contracts were made, leasing the Shelby
annum for Little Miami Company’s expenses of organization; the fulfil¬
road for 30 years, and also with the Cumberland A Ohio (see V. 29, p.
ment of the lessor’s lease obligation is also stipulated. Gross earnings in
1878, $1,223,691, and in 1879, $1,441,939; net income, $384,621 in 147). Operations and earnings for flve years past were as follows:
Net
Gross
Freight (ton)
Passenger
1878 and $550,233 in 1879, including $109,444 each year from interest,
Earnings. Earnings.
Mileage.
Mileage.
Miles.
Years.
Ac.
(V. 28, p. 378; V. 30, p. 38*.)
21,762,605 $1,011,688 $205,866
15,747,685
213
256,710
1,049,369
26,481,084
Little Rock d Fort Smith.—Dec. 31,1879, owned from Little Rock, Ark.,
15,431,162
213
294,160
978,083
27,158,428
to Fort Smith, 165 miles. In Dec., 1874, the property (then 100 milesi),
13,379,360
213
958.121
324,92528,339,773
including the land grant, was sold in foreclosure. This company after¬
12,984,240
213
425,270*
1,129,632
wards built 65 miles, and opened the road to Fort Smith July 1, 1876.
34,222,143
15,484,890
232
Three coupons of July, 1879, and after were funded into 7 per cent
notes ($562,115). In the year 1879 the gross earnings were $362,159 -(V. 27, p. 302 ; V. 28, p. 41, 599; Y. 29, p. 147; V. 30, p. 169; V. 31 >
and net earnings $156,828; total available revenue, including miscel- j p. 259, 454, 606.)
Operating expenses of the road
^
2,996,981
F. N.S.& Central.:
‘
,,
-
.
Date
Size, or
of
of
Par
Road. Bonds. Value.
Miles
of column headings, &c., see notes
first page of tables.
.
'
14*1
284
284
20
22
77
39
43
304
304
55
18
109
36
30
71
71
26
1st mortgage
Maine Central—Stock
1st mortgage, consolidated
Bonds ($1,100,000 loan) A. &. K. RR
Extension bonds, 1870, (old.
3ioi
Maine Central loan for J 51,100,000
Leecfe & Farmington Railroad loan.
Androscoggin Railroad, Bath City loan
Portland & Kennebec, 1st mort., extended
do
do
consolidated mortgage...
Manchester d Lawrence—Stock
Manhattan Beach—Stock ($200,000 is preferred)..
12
12
do
do
Manhattan Beach Improvem’t Co. mort. bonds
.
£200
£200
....
1,000
1,000
...
100 &c.
....
100
....
20
....
1,000
1,000
1875
1867
1870
1872
1,000
1,480,000
3,603,300
3,903/700
1,100,000
496,500
756,800
633,000
425,000
217,300
1,166,700
1,000,000
5,200,000
500,000
300,000
600,000
100
1872
1866
1863
1865
100 &c.
100 Ac.
500 &c.
100 &c.
300 &c.
100 &c.
100 Ac
100 &c.
100
100
....
....
1877
1,000
....
....
1879
500 Ac.
Louisville d Nashville—June 30,1880, owned from Louisville, Ky., to
Nashville, Tenn., 185 miles; Henderson, Ky., to Nashville, Tenn., 135
miles; Pensacola RR., 45 miles; Pensac’a & Selma, 70 miles; branches—
Junction to Bardstown, 17 miles; Junction to Livingston, 110 miles;
Junction to Richmond, 34 miles; Louisville to Cecilian Junction, 46
miles ; Paris, Tenn., to Memphis, Tenn., 259 miles; Junct’n to Glasgow,
11 miles; leased—Nashville & Decatur RR., Nashville, Tenn., to Decatur,
Ala., 119 miles; N. O. & Mob. RR., 141 miles; Pontchartrain RR., 5 miles;
Cumberland & O. RR. (Southern Division), 31 miles; St. L. & Southeast.
(Ill. & Ind. Div.), 208 miles; Western RR. of Ala. (Selma Div.), 50 miles;
controlled—South & North Alabama RR., Decatur to Montgomery, Ala.,
189 miles; Owensboro & Nashv. RR., 35 miles; Mobile & Montgomery
RR., 180 miles; Nashville Chattanooga &St. Louis Railway system, 508
miles; total operated, 2,378 miles. For the St. Louis & Southeast, roads
the $492,200 Trust Co. certificates were issued, secured by $800,000 of
the E. H. & N. bonds; they are re-deemable any April or Oct. on 30 days
notice. The prices of stock and monthly earnings have been *
Prices of Stock.
Monthly Earnings.
1878.
1877.
.Jan
Feb
Mar. 26
-
42 %-
-
49
26
Apr. 2914- 29
May 30 - 30
J’ne
37
-
-
-
1879.
-
July
Aug. 2812- 28i2
Bept 2912- 2914
-
36i2- 3512
-
-
59 %70%-
37
35
41
4714 16412-115
5312 133 -120
62i0- 5112 128
6312- 51
-
36
-
36
1880.
127 - 861s
146 -11612
164 -139
126
-120
-118x
132 -115
5412 16012-130
7612- 62i8 17312-155
89%- 7612 174 -*84
8912- 84
56%-
52
6314
Oct.. ......
35 - 35
Nov
39 - 38
Dec. 41 - 4012 39 - 39
*
Ex div. of 100 p. c.
The annual report for 1879-80,
-
•
1879.
-Princi-
450,476
430,638
421,579
396,083
g.
g.
g.
g-
F. & A.
J. & D.
A. & O.
Various
M. A N.
A. & O.
M. & 8.
A. & 0.
M. & N.
J. & D.
F. & A.
J. & D.
J. & J.
A. & O.
J. & J.
6
2%
7
7
7 g.
7
.
7
6
6 g.
7
6
6
6
6
5
.
„
m
>al,When Due,
Payable, and by
Whom.
L. & N. Y., 52 Wall St.
L. & N. Y., D., M. & Co.
N. Y., Bank of America.
do
do
do
do
L. & N. Y., D., M. & Co.
N. Y., Drexel, M. & Co.
L. & N. Y., D., M. & Co.
N. Y. and Louisville.
do
do
N. Y., Central Trust
N. Y., Drexel, M. &
Dividend.
1, 1880
June, 1930
1886 & 1887
1886
Deo.
Nov., 1880-’S5
Oct, 15, 1893
Mar. 1, 1907
Nov.
1884
Co. Oct, 1, 1884
Co. Jan. 1, 1930
.
New York, Treasurer.
J. & J. Buffalo, Manuf.&Tr.Bk.
J. & J. Augusta, Ga. RR.& B.Co
A. A O. N. Y., Drexel, M, & Co.
Q.-J.
J.
Stocks—Last
April, 1898
1, 1883
Dec., 1901
London, Baring Bros.
do
ao
Aug., 1902
N. Y., Drexel, M. A Co. Dec. 1, 1919
& J. N.York, Union Trust Co.
A. & O. Bost., Nat. B’k Com’rce.
M’nthly Boston, 2d Nat. Bank.
A. & O.
J. & J.
J. & J.
Q.-J.
Jan.,
1881
1905
Jan. 1,
1887
Jan., 1902
1, 1902
Jan.
April 1, 1912
1890 to 1891
Oct., 1900
July, 1898
July, 1901
do
do
do
do
do
do
do
do
July, 1891
A. A O. Portland, 1st Nat. Bank.
A. A O. Boston. 2d Nat. Bank.
M. & N. Manchester and Boston.
Oct. 15, 1883
April 1, 1895
Nov. 1, 1880
.....
7
J.
& J. New York, 115
7
M. &
Miscellaneous
Profit and loss
B’dway. Jan. 1, 1897
March
S.
1876-77.
$
37,467
3,084,680
1878-79.
1879-80.
$
32,236
3,492,604
29,949
3,909,759
1877-78.
$
48,151
3,304,765
i, i890
$
31,056,366 32,315,980 31,468,518 47,297,529
(V. 29, p. 41, 170, 358, 381, 405, 538. 602, 657; Y. 30, p. 91, 144,
169, 170, 192, 273, 357, 384, 408, 420, 447, 493, 511. 519, 650; V. 31,
p. 45, 95, 122, 135,191, 217, 283, 306, 328, 382,403, 429, 510, 551, 588,
652.)
Louisv. N. Albany d Chic.—Dec. 31, 1879, owned from New Albany,
Ind., to Mich. City, Ind., 288 miles. This road was opened in 1852 and sold
in foreclosure Dec. 27,1872, and reorganized without any bonded debt.
Very little information has been given as to its earnings, but returns for
1880.
674,455
575,035
612,593
563,882
655,014
976,229
425,750
6
7
7
7
7
6
6
6
6
6
600,000
1,000
1860-1
1870
1868
1871
Payable
1,000,000
7,070,000
2,000,000
3,500,000
2,270,770
1,600,000
2,650,000
492,200
5,000,000
.3,000,000
3,000,000
600,000
398,000
400,000
1,000
1880
When
Cent.
333,000
1,000
1872
1879
1880
1879
1880
....
Y. & Manhattan Beach Railwa
_
Where
Rate per
$9,059,400 100 stock
6 g.
5,000,000
6
850,000
6
225,000
7
88,000
1,000
1,000
1871
....
Lykens Talley—Stock
McKean d Buffalo—1st mortgage
Macon d Augusta—1st mortgage
Madison d Portager—1st mort., gold
Mahoning Coal — 1st mortgage, coupon
.
1856
1863
1863
1877
1868
1873
46
392
392
130
83
115
Memphis & Ohio, 1st mort., sterling, guar
Memphis & Clarksville br.. 1st mort., sterling...
Mort. on Ev. Hen. & .N., gold, (for $2,400,000)...
Debenture bds (sec’d by Nash. & C. stock in trust).
Trust Company certificates
1st mortgage on New Orleans & Mobile RR
Louisville New Albany d Chicago—Stock
Outstanding
1,000
1880
.
Consolidated 1st mortgage for $8,000,000.
2d mortgage bonds, gold, coup
Amount
$100
966
840
Louisville d Nashville— Stock.
General mortgage, gold (for $20,000,000)
Louisville loan, main stem (no mortgage)
Lebanon branch, Louisville loan
Lebanon branch, 1st mortgage
do
extension, Louisville loan
Cecilian Branch, 1st mortgage
1st mortgage, N.
2d mort., conv.,
[Vol. XXXI.
INTEREST OR DIVIDENDS.
DESCRIPTION.
on
BONDS.
immediate notice of any error discovered in these Tables.
Subscribers will confer a great faror by giving
For explanation
AND
STOCKS
KA1LR0AD
XXXYl
Total liabilities....
1879 showed gross earnings of $696,631; net earnings, $99,974. The
stock was placed on the New York Stock Exchange List in November,
1879, and afterwards it was reported that a purchase had been made of
a
controlling interest in the stock by Mr. Standiford, President of
the
Louisville & Nashville Railroad, R. S. Veech. Hon. Isaac Caldwell and
several other gentlemen in Louisville, and their associates in New York
were John Jacob Astor, William Astor, Robert L. Kennedy, Henry F.
Vaile, Samuel Sloan and others.’ (V. 29, p. 511, 657; V. 30 p. 434, 466,
519, 675; Y. 31, p. 95, 152, 205.)
Lykens Valley—Dec. 31,1879, owned from Millersburg, Pa., to Wil'
504,229
419,246 757,902 liamstown, Pa., 20 miles; branch, 1 mile; total operated, 21 miles. A
anti operated by the Summit Branch RR. The lease is
443,749 800,000 coal road leased
527,214 891,000 for 999 years from March 1,1866, and the rental is $62,500 per annum.
McKean d Buffalo.—Dec. 31,1879, owned from Larabee, Pa., to Cler¬
609,578 1000.000
697,033 929,400 mont, Pa., 22 miles. In 1878 gross earnings were $60,620 and net $40,811. The stock is $387,600. B. D. Hamlin, President, Smithport, Pa.
681,811
Macon d Augusta.—Dec. 31, 1879, owned from Warrenton, Ga., to
in the Chronicle, V. 31, p. 403, gave Macon, 76 miles. Road operated by Georgia Railroad C«., which endorses
an account of the various acquisitions in that year.
The comparative $300,000 of the first mortgage bonds. Tne Georgia Railroad Co. bought
& St. Louis, which in the road sold at Augusta, March 2,1880. (V. 28, p. 501, 579; V. 30,
statistics were as follows, not including Nashv.
is reported separately:
p. 17, 248, 542.)
1878-79.
1879-80.
1876-77.
1877-78.
Madison d Portage.—Aug. 30,1878, owned from Madison, Wis., to Por¬
Earnings—
$
$
•
$
$
tage, Wis., 39 miles. The road was opened in 1870. The stock is $394,1,425,128
1,267,797
1,700,207 300. The road is controlled and operated by the Chicago Milwaukee
Passenger
1,410,933
Freight
3,455,703
3,723,643
3,627,925
5,135,985 & St. Paul, and was sold in foreclosure to that company April 6, 1880.
Mail, express, &c....
448,690
458,828
491,874
599,651 -(V. 30, p. 357, 375.)
Mahoning Coal.—Dec. 31,1879, owned from Andover, O., to Youngs¬
7,435,843
5,607,599
5,387,596
5,315,326
Tt>w*l gross earn’gs
4,208,199 town, O., 38 miles ; branches to coal mines, 5 miles; total operated, 43
3,174,806
3,263,356
3,155,824
Op. ex. (inch taxes).
miles. It was opened May 1, 1873, and leased for 25 years from that
date to L. Sh. & Mich. So, RR., at 40 per cent of gross earnings.
Capital
Net earnings
3,227,643 stock is
2,344,243
2,231,772
2,140,520
$1,373,000. The L. S. & M. S. Co. holds $287,000 of the bonds.
INCOME ACCOUNT.
Net earnings in 1879 (40 per cent of gross), $58,219.
$
$
$
$
Receipts—
Maine Central—Dee. 31,1879, owned from Portland, Me., to Bangor,
3,227,643
Net earn’gs,all s’rces
2,327.023
2,481,841
2,144.332
$
Me., 137 miles; branches—Crowley’s Junction to Lewiston, 5 miles ;
Disbursements—
$
$
Bath, Me., to Farmington, Me., 74 miles; Cumberland Junction to
Rentals for cars, &c.
110,160
149,149
119,825
58,666 Waterville, 73 miles; Waterville to Skowhegan, 18 miles ; leased—Belfast
Rental leased lines*
2,050,900 & Moosehead Lake Railroad, 34 miles; Dexter & Newport RR., 14 miles;
Int.on debt (all lines)
1,541,085
1,548,129
1,519,717
69,750 total operated, 355 miles. This was a consolidation in 1862 of the
Disc’nt on bonds, Ac.
49,353
221,140
236,840
368.727
Div’s (L.AN., N.&D.)
459,998
823,120 Androscoggin & Kennebec Railroad and the Penobscot & Kennebec.
233,607
In August, 1873, the Portland & Kennebec, Somerset & Kennebec and
133,860
Adv’s&iut.S.&N.Ala.
140,271
67,143
Leeds & Farmington railroads were also consolidated with the Maine
62,288
43o. A No-Ala. st’g bds.
62,666
66,713
39,933 Central. The annual report was published in V. 3C, p. 321.
Miscellaneous
15,151
30,679
26,289
Comparative statistics for four years are as follows:
Total disbursements
Earnings—
1876.
1877.
1878.
1879.
2,492,349
2,524,937
3,042,369
2,145,503
185,274 Total gross earnings
f 43,096
t 1,171
Balance
1145,326
$1,726,497 $1,648,175 $1,434,688 $1,508,377
644,637
638,398
593,983
The accounts in 1879-80 give this rental of St. Louis & Southeastern Net earnings
684,416
t Deficit.
land Selma Division roads.
Total income
599,957
648,557
650,699
689,852
GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR.
1876-77.
1877-78.
1878-79.
1879-80.
Assets—
Road,equipment, &c.
23,927,979
24,066.920
24,865,648
Timber & quar. lands.
Stocks owned
Bonds owned
Bills & accts. receiv.
Materials. fuel, &c..
Cash on hand
So. AN. Ala. RR....
Nash. & Dec. RR
'Cecilian Branoh
987,554
1,486,094
2,931,027
466,848
470,786
125,479
246,189
337,788
959.455
938,178
1,365,861
1,522,816
656,233
507,047
76.622
1,486,262
3,081,062
655,091
369.457
148,847
575,876
389,024
583,986
310.844
810,018
421,873
Other roads of ’79-80
Dividends
Mort. on building
47,297,529
9,007,819
9,052,950
17,370,720 17,336,770
364,312
1,486,534
1,386,098
830,604
652,673
740,849
162,475
172,310
162,706
135,117
135,054
226,322
80,000
70,000
60,000
9,059,361
30,978,520
9,003,418
...
32,315,980
31,468,518
16,404,230
Interest
806,995
743,885
460,523
179,158
456,209
574,798
31,056,366
Rills payable
All other dues & ac’ts
922,109
7,326,209
3,123,708
70,000
-Susp’d int.S.A N.Ala.
Total assets
Li ibilities—
^Stock
-Bonds
32,703,932
896,343
1,649,291
321,839
452,965
50,000
Disburse m en ts—
Rentals paid
Interest on bonds
Dividends
Other interest, etc
$54,000
502,996
29,814
$54,000
523,410
$54,000
569,381
$54,000
569,179
26,i09
‘*3,845
*3,726
64,555
$47,180 df.$27,269
$21,652
Balance, surplus
$38,487
(V. 28, p. 325 ; V. 30, p. 321.)
Manchester dLawrence—March 31,1879, owned from Manchester, N.
H., to Methuen (State Line), 22% miles; leased, Methuen Branch of the
Boston & Maine Railroad, 3% miles; total operated, 26 miles. Road in
operation since 1849. Formerly operated with the Concord RR. as one
line, on a basis of two-fifths of the joint earnings. Methuen branch is
leased at a rental of $11,000 per annum. Company lays claim to a twofifths interest in the Manchester & North Weare RR., which is operated
by Conoord RR. Ten per cent dividends are paid. Gross earnings in
1878-9, including amount received from Concord Railroad on account
of joint business, $164,998; net earnings, $100,411. In 1877-8 gross
earnings were $171,777, and net earnings, $100,459. (V. 28, p. 598.)
Manhattan Beach.—This is a consolidation, Feb., 1880, of the New
York & Manhattan Beach Railway Co., the Manhattan Beach Improve¬
ment Co. and the Marine Railway Co. The N. Y. & M. B. leases the New
York Bay Ridge & Jamaica RR.,and guarantees interest on its bonds and
stock. Austin Corbin, President, 115 Broadway, New York City. (V. 30,
p. 493.)
-
great favor by giving
Subscribers will oonfer a
explanation of column
on
first page
headings, <fcc., see notes
of tables.
Date
Miles
Size, or
Par
of
of
Road. Bonds Value.
Amount
Outstanding
Rate per When Where
Cent.
Payable
$100 $13,000,000
2,450,000
44
f m m m
•
•
•
•
-» •
•
•
RR., 1st mortgage
stock, 8 p. c. guar by M. & C...
do
do
1st mort., guar, by M. & C
Cincinnati & Baltimore RR., stock
a
do
do
1st mortgage
Marquette H. & 0.—1st mort., I’d gr., M.& O., coup.
Balt. Short Line,
2d mortgage
Consol. M.,g. ($1,400,000 IstM. on 91m. in Tenn.)
Memphis & Little Rk.—1st M. (paid $50,600 yearly)
General mort., land grant, (s. f. $10,000 after ’82)
Metropolitan Elevated (N. Y.
(guar, by
Michigan Central—stock
City)—Stock
Manhattan)
1st mortgage, convertible,
1st mortgage, convertible
5*3
•
•
•
•
Michigan Air Line 1st mort.,assumed by M. C—
Equipment bonds
M. C. bonds, mort. on Grand River Valley RR. ..
Kalamazoo & South Haven, 1st mort., guar
2d mort., guar
Grand River Valley, 1st mort., guar. 5
stock, guar
do
do
do
1,000
1,000
1,000
25
....
1,000
1,000
250 &c.
100
1878
1,000
1879
•
1,000
100
....
1857
10
1870
1874
1879
1869
1870
1866
•
•
•
1,000
1,000
1,000
1,000
1,000
1,000
1857
1872
1870
•
82
39
39
84
1,000
1,000
1,000
1,000
100
....
....
and operate
stock is $13,000,000, and it guarantees 6 per cent per annum on $21,000,000 of
bonds and 10 per cent on $13,000,000 of stock of those companies before
its own stock can receive anything. An arbitration for determining the
basis of full consolidation or this and the two elevated roads was insti¬
tuted in August, 1880, but failed to receive the approval of the com¬
panies.
Mr. F. E. Worcester, Secretary of the Manhattan Railway Company,
at the request of Mr. Cyrus W. Field, furnished the following approxi¬
mate statement of the business of the elevated roads for the fiscal year
ending September 30. 1880, September being partly estimated. (The
/report for the full year was given m Y. 31, p. 509. and differed slightly
in the results.) Passengers carried by each line during the year ending
Manhattan Elevated.—This is a corporation formed to lease
the two elevated railroads in New York City. Its capital
October 1,1880:
Second Avenue—7 months
'Third Avenue
Total Metropolitan
4,726,779
21,222,436
lines
Third Avenue
29,549,515
5,341,940
,
Ninth Avenue
Total New York lines
Total all linfcs
Allowing for estimated
‘distributed as follows:
.
transfers at Chatham Square, the
25,949,215
$1,120,200
307,000
$1,084,976
80,489
Total New York
Second Avenue
•Sixth Avenue
$2,592,665
$1,427,200
$1,165,465
by $65,700.
Metropolitan lines
New York lines
$78,433
736,361
$814,794
by the esti¬
be changed
$749,094
1,231,165
Total net earnings, all lines
$1,980,259
After the payment of interest on the bonds, the companies would have
•earnings applicable to the payment of dividends on their stocks:
Metropolitan....
$205,344 | New York
$636,165
These were equal to 9 79ioo per cent on the stock of the New York Com¬
pany and to 3 16ioo Per cent on that of the Metropolitan Company.
The actual net earnings of the Manhattan Company for the year were
c-$l,966,850, and the deficiency to meet fixed charges for the same time
was $490,308, against a surplus brought over
October 1, 1879, of
$301,216.
For full details in regard to the company and its leased lines reference
.
following pages : Y. 28, p. 553, 579, 649; V.
244, 407,459,511; V. 30, p. 144, 357, 385, 408, 544; Y. 31, p. 68,
123,153, 248, 304, 329, 358, 382, 405, 509.)
should be made to the
p.
Marietta & Cincinnati—Dec.
29,
95,
31,1879, owned from Cin. & Balt. Junc-
extensions—
•miles; Portsmouth to Hamden, 55 miles; Blanchester to Hillsboro, 22
miles; leased—Cin. & Balt. RR., 6 miles; Balt. Short-Line, 30 miles; total
^operated, 312 miles. The company made default on the fourth mort¬
gage bonds, and the road was placed in the hands of Mr. John King, Jr.,
.of the Balt. & Ohio, June 27,1877. The Marietta & Cin. Co. guaranteed
•the stock and bonds of the Baltimore Short-Line Railway, and when in
default on its own bonds this rental of the Baltimore Short-Line and the
.rental of the Cincinnati & Baltimore Railroad were paid by order of the
•court, as the securities of these roads were mainly held by the Baltimore
<fc Ohio Railroad. The bondholders of the Marietta & Cincinnati Co.
Jbave complained bitterly against the policy of the Baltimore & Ohio Co.
towards this road (see V. 29, p. 170).
The coupons overdue on
•bonds, and condition of property, are referred to in V. 31, p. 229. The
capital stock is as follows; First preferred, $8,105,600; second pre¬
From June 20, 1877, to
ferred, $4,440,100; common, $1,386,350.
Ootober 31,1879, the Receiver’s report showed that the net income,
•tion, O., to Main Line June., O., 157 miles; branohes and
Main Line Junction to Scott’s Landing, 31 miles; Marietta
to Belpre, 11
after deducting taxes and rents during the period stated, was $65,672;
net income year ending June 30,1880, $117,350. The suit for
ure drags slowly on.
p.
(V. 28, p. 401, 452; Y. 29, p. 170,
;
43, 169, 567, 589; Y. 31, p. 95, 229, 484, 606.)
foreclos¬
608 V. 30,
Marquette Houghton <6 Ontonagon.—Dec.
31,1879, owned from Mar¬
quette, Mich., to L’Anse, 63 miles; branches, 25 miles; total operated, 88
miles. This was a consolidation Aug. 22,1872, of the Marq. & Ontonagon
Railway and the Houghton & Ontonagon Railway. The company made
•default on its bonds, and issued the present 6 per cent bonds in exchange
for
prior 8 per cent bonds.
J.
J.
J.
M.
&
&
&
&
7
7
7 g.
8
4
213
6
6
4
8
8
7
8
8
8
6
8
8
8
2*3
$2,259,026 preferred.
Aug.
Aug.
Balt., R. Garret & Sons. May
do
do
July
London.
&
&
&
&
&
&
&
&
&
&
&
&
1891
1891
1896
1890
May 1, 1896
Jan., 1879
Bal t .Merch. Nat. Bank Dec. 1, 1904
do
do
May 1, 1879
Baltimore, Balt.&O.RR. Jari. 1, 1900
Boston, N. Eng. Tr. Co. June 1,1892
Mar. 1, 1908
do
do
Jan. 1, 1900
Boston and New York.
I,fi915
Jan.
Jan. 1, 1885
Jan. 1,11915
T. Wilson & Co.
do
do
do
J.
N. N.Y., H.Talmadge
do
do
Janu’ry
J.
M.
F.
A.
A.
M.
J.
M.
A.
M.
M.
M.
J.
J.
1,
1,
1,
1,
April, 1908}
do
do
do
do
do
do
J. N. Y., R.
do
J.
Q.-J.
Dividend.
Balt., R. Garret & Sons.
&Co. Yearly-’81-’83
Office.
N.Y., Central Trust Co.
New York,
July, 1907
1, 1881
July. 1908
Nov. 1, 1899
Jan.
J.
do
’
do
N.
A. Grand Central, Office.
O. N. Y., Union Trust Co.
do
do
O.
do
do
N.
do
do
J.
do
do
N.
do
*
do
O.
do
do
S.
do
do
N.
do
do
N.
do
do
& J.
do
do
& J.
Feb. 1. 1881
Oct. 1,1882
Oct. 1,1882
May 1,1902
Jam 1,1890
Nov. 1, 1890
April 1, 1883
1909
Nov. 1, 1889
Nov. 1. 1890
July 1, 1886
Jan., 1881
mostly tim¬
of
have been as follows:
Net
The lands amount to 425,000 acres,
ber and mineral lands, and the freights of the company
iron ore. Operations and earnings for several years
Passenger
Freight (ton)
are mainly
Gross
Earnings.
Miles.
Mileage.
Mileage.
Earnings.
$311,475
88
14,081,901
1,386,303
$718,904
331,788
88
14,236,987
680,422
1,208,906
346,063
88
1,170,748
15,478,293
675,732
299,182
88
1,030,290
15,816,466
566,453
277,157
1,130,678
15,124,336
552,671
88
Massachusetts Central.—Projected road, Boston, Mass., to West Deer*
field. Mass., 105 miles; branohes, 11 miles; total as projected, 116
miles.
Leased March, 1880, to Boston & Lowell for 25 years, at a
rental of 25 per cent of gross earnings, and to be completed as speci¬
Years.
1, 1831. (V. 30, p. 222, 248, 322, 650,'; V. 31, p. 454.)
Memphis cC Charleston.—June 30, 1879, owned from Memphis
Stevenson, Ala., 272 miles; branches—to Somerville 14 miles,
fied by Nov.
5 miles, to Mississippi River 1
This road was leased June 2,1877,
miles.
consolidated mortgage,
$2,205,176
387,489
Total Metropolitan.... $2,021,294
$1,206,500
The total net earnings are thus seen to be $1,980,259; but
mated transfers at Chatham Square, the net earnings would
556,000
500,000
640,000
70,000
1,000,000
491,200
&
&
&
&
&
&
&
&
&
&
&
&
Stocks—Last
Whom.
to
to
mile; total operated, 292
to the East Tennessee Vir¬
ginia & Georgia Railroad for twenty years from July 1, 1877. The
lessees were to operate the road on their own account and apply the net
earnings to interest and pay the balance, if any, to the lessors. The
34,891,455 lease was terminable on 6 months’ notice and was modified in December,
1879, the M. & C. Company giving up their right to terminate the lease,
60,840,670 and the lessees agreeing to buy the coupons for three years following in
traffic was case the M. & C. earnings should be insufficient to pay them. Of the new
Third Avenue
Ninth Avenue
$247,300
959,200
1,760,000
2,482,200
1,500,000
5,312,725
1,264,000
1,000,000
1,958,000
250,000
2,600,000
6,500,000
8,500,000
4,000,000
18,738,204
1,508,500
437,000
8,000,000
1,900,000
200,000
A.
A.
N.
J.
O.
N.
J.
D.
N.
J.
D.
S.
& J.
F.
7
7 g. F.
M.
7
J.
8
A.,
8
M.
7
4
1 J.
J.
7
M.
4
J.
7
J.
8
M.
6
J.
6
pal,When Due.
Payable, and by
Florence
Metropolitan lines
24,306,715 I New York lines
36,533,955
The following is an estimate of the business of the Manhattan Com¬
pany during the year :
Earnings.
Expenses.
Net Earnings
$325,733
1,695,561
187-9
750.000
284
284
284
103
-.
1,000
1,050,000
2,500,000
3,000,000
4,000,000
300,000
1,125,000
750,000
1,243,400
1854
1867
1877
1877
1877
800
sinking fund
....
....
....
14
•
....
....
•
....
•
....
100
1872
1878
1880
•
....
•
50
88
117
292
181
272
292
133
133
;
Consolidated mortgage (for $10,000,000)-.*..
Michigan Air Line mortgage...
«.
do
•
•
1869
30
«...
mnrt.gagft
Central—New mort., gold, (for$3,500,000)...
Memphis
Charleston—stock.
1st mortgage, Ala. & Miss. Div. (extend, in 1880).
Mass.
1st mortgage
2d mortgage
1861
1861
1866
1870
1873
1866
188
188
dollar
2d mortgage
3d mortgage
4th mortgage
Scioto & Hocking Valley
discovered in tbese Tables.
Bonds—Princi
Immediate notice of any error
67811874-65
7 .
\1 nnhsiitn'n, Elevated—Stock
Marietta & Cincinnati—1st mortgage,
let mortgage, sterling
XXXVU
AND BONDS.
INTEREST OR DIVIDENDS.
DESCRIPTION.
For
STOCKS
RAILROAD
December, 1880. J
The sto«k is $2,306,600 common
and
$1,400,000 is secured by the old Tennessee
State
$1,736,906, assigned to a trustee, and a sufficient balance of this
mortgage is reserved to take up first and second mortgages. The first
mortgage bonds due May, 1880, were bought up, but not paid off. In
March, 1880, 15,150 shares of stock held by city of Charleston were
sold to Newell, Duncan & Co., of Nashville, at 38*3. Earnings for five
years past were as follows:
Miles. Gross Earn’gs. Not Eam’gs.
Years.
$183,495
$1,063,326
292
321,230
1,033,366
292
lien for
1
292
292
292
961,350
989,857
862,513
317,523
307,445
231,038
—(V. 28, p 221s V. 29, p. 18, 382, 608, 631; V. 31, p. 535, 557.)
Memphis <£• Little Rock.—Dec. 31, 1879, owned from Little Rock,
135 miles. Default was made on the coupons
property sold in foreclosure. The new com¬
pany also defaulted, and the road was sold and reorganized April 28,
1877. The stock is $1,500,000. in 1878 gross earnings were $443,764;
net earnings, $116,417. The company has a land grant from Congress
of 1,000,000 aores, of which about 150.000 acres have been certified to
it. The general mortgage carries 8 per cent interest after July, 1882. In
April, 1880, control of this company was purchased by the St. Louis
<fe Iron Mountain. See V. 30, p. 466. R. K. Dow is President, Little
Rock, Ark. (V. 29, p. 657; V. 30, p. 192, 466.)
Ark., to Hopefleld. Ark.,
November, 1872, and the
Metropolitan Elevated.—Sept.
30,1879, owned from Rector Street
to
155th St., 53* miles;
the Gilbert Ele¬
York Elevated, to
stook and in¬
assistant of the State
Engineer, made a report in January, 1880. He reported that the New
York Loan & Improvement Company expended in the construction of
the Metropolitan Elevated Railway up to September 30,1879, the sum
of $10,828,790.
For $6,500,000 of Manhattan stock, $8,500,000 of
the first mortgage bonds and $6,500,000 of the stook of the Metropoli¬
tan Company, representing the whole property and the only lien upon
it, Mr. Sweet comes to the conclusion that the New York Loan
and Improvement Company paid $9,639,142. See Manhattan, above.
(V. 28, p. 42, 112, 253, 327, 526, 553, 579; V. 29, p. 42, 407, 511, 631,
-656; V. 30, p. 144,169, 357, 385, 409, 519, 544, 589; V. 31, p. 45,
68, 95, 123, 205, 281, 304, 329, 358.)
Michigan Central.—Dec. 31,1879, owned from Detroit, Mioh., to Ken¬
sington, HI., 270 miles ; used jointly with Ills. Central, Kensington t*
Chicago, 14 miles; leased lines—Michigan Air Line, 104 miles; Jackson
Lansing & Saginaw, 236 miles; Grand River Valley, 84 miles; Kala¬
mazoo <fe Soutn Haven, 40 miles; Joliet & Northern Indiana, 45 miles;
Niles & New Lisbon, 11 miles; total operated. 804 miles. The leased
lines have been largely assisted by the Miohigan Central Company, and
prior to 1872 the Michigan Central was a regular dividend-paying
company. The Vanderbilt party took possession in June, 1878.
The dividend of February, 1881, was declared on the following state¬
ment of income for 1880, December being partly estimated.
1880
1879.
58th St., 4*3 miles, and from 6th Av. and 53d St. to
total operated, 101* miles. This was formerly known as
vated Road, ana is now leased, together with the New
the Manhattan Railway Company, at 10 per cent on the
terest on the bonds. Mr. Elnathan Sweet, Jr., an
Gross
earnings
Operating expenses and taxes
Percentage of earnings
Net
earnings
Interest and rentals
Balance
$9,100,000
5,730,000
(62*97)
$3,370,000
.1,605,000
$1,765,000
$7,345,700
4,624,600
(62*96)
$2,721,100
1,620,000
$1,101,100
i
i
RAILROAD
XXXV111
<
Subscribers will confer
a
STOCKS
AND
BONDS.
great favor by giving immediate notice of any error discovered in these
Tables.
DESCRIPTION.
Miles Date Size, or
For explanation of column headings, Ac., see notes
of
of
Par
on first page of tables.
Road. Bonds Value.
Michigan Central—(Continued)—
Detroit A Bay City 1st mortgage, endorsed.
do
do
mortgage (not guar M.C.)....
Jackson, Lansing A Saginaw 1st mort
' coup.
do
1st mort.
118
118
116
(N. of Win.), conv. V may
whole line (300m.) J be r’g
....
do Cons. m. on
Middletown Unionville d Water Gap—1st mortgage.
Midland of N. Jersey— Stock (pref. over inc. bonds)
First mortgage
Income bonds, class A
do
do
class B
Milw. Lake Shored West—1st m., gold, LakeSh.!
Northern Division, 1st mortgage
Oshkosh Division, 1st mortgage
Wausau Division, 1st mortgage
236
13
85
72
Milwaukee d Northern— 1st mortgage
Mine Hill d Schuylkill Haven—Stock
Mineral Point— 1st mortgage
126
140
51
27
93
15
102
100
100
786
182
100
786
786
19 874-65
127
100
23
23
Equipment, 1st mortgage
•
mortgage, Merriam Junction to Albert
mortg., Minneapolis to White B. Lake,
1st
•
•
•
'
Lea
guar..
mortgage, series “ B,” (a second lien)...
Missouri Kansas & Texas—Stock
1st m., gold, sink, fund, on road and land (U.P
1st mortgage, gold (Tebo. & Neosho)
Consolidated mortgage, gold, on road and la
2d mortgage, income, (for $10,000,000)
Booneville Bridge bonds, gold, guar
New consol, mortgage (for $45„000,000).
Hannibal & Central Missouri, 1st mortgage,
do
do
2d mortgage
....
..
•
•
.
•
70
70
.
1872-3
1872
1865
1870
1871
1866
100
500 &c.
500 &c.
500 &c.
1.000
1,000
1,000
1,000
1,000
50
....
....
1,000
500 &c.
1,000
1,000
1,000
1,000
100
1868
1870
1871-3
1876
1873
1,000
1,000
1,000
....
....
1870
1872
1,000
1,000
is
case
OPERATIONS AND FISCAL RESULTS.
1877.
Rate per passenger per
1,400,847
79,805,454
mile.
2*36 cts.
Freight (tons) moved
Freight (tons) mileage
Average rate per ton per mile
Earnings—
2,937^570
Passenger
446,708,939
0-982 cts.
$
1878.
1,373,530
79,684,072
2-41 cts.
2,786,646
548,053,707
0-848 cts.
$
1,918,609
1879.
1,445,655
93,232,430
2-21 cts
3,513,819
721,019,413
0-092 cts
$
2,062,26c
4,986,988
297,54
Mail, express, Ac
1,881,581
4,387,839
292,015
4,646,248
Total gross earnings
Operating expenses
6,561,435
4,508,482
6,872,094
4,367,238
7,346,791
4,699,592
Net earnings
Per ct. of op. exp. to
2,052,953
2,504,856
2,647,202
Freight
earn’gs.
68-71
307,237
63-55
63-97
INCOME ACCOUNT.
1878.
Receipts—
1879.
$
$
2,647,202
Net- earnings
Interest and dividends
2,504,856
119,664
Total income
Disbursements—
Rentals paid
Interest on debt
Dividends
2,624,520
$
2,715,836
184,310
184,310
1,403,472
Chicago A Mich. Lake Shore (worthless)
Balance, surplus
...
68,634
$
1,431,640
(4) 749,528 (5^)1,030,601
97,840
161,202
97,453
Total
2,624,520
2,715,836
The Jackson Lansing & Saginaw debt is assumed
by Michigan Central,
which also pays $70,000 per year on the stock of
$1,966,800, one-tliird
of which it owns; the proceeds of J. L. A S. lands
go to pay bonds.
Interest was passed on the Detroit and Bay City
bonds, not guaranteed,
November, 1875, and decree of sale was made in Dec., 1880. (V. 31, p.
606.)
Years.
Operations and earnings for six years past were
Passenger Freight (ton)
Gross
Miles.
Mileage.
800
803 86,847,889
1876-7
803 93,830,515
1877*
803 51,354,147
803 79,684,072
803 93,232,430
*
Seven months only.
as
follows:
Net
Mileage.
Earnings. Earnings,
318,366,003 $7,102,286 $2,034,189
396,046,422 6,850,964 2,048,062
473,837,807 6,498,127 1,791,685
252,373,503 3,903,514 1,312,499
548,053,707 6,872,094 2,504,856
721,019,413 7,346,794 2,647,202
Div.
p. c.
...
...
...
...
2
3*s
—(Y. 28, p.473, 599; Y. 29, p. 330,511, 657; V.30,p.491; V.
31, p.20,
606.)
Middletown TJnionville & Water Gap— Oct.
1,1879, owned from Mid¬
dletown, N. Y., to Unionville, N. J. State Line, 13 miles.
Road opened
June 10, 1868. Is leased to the New
Jersey Midland Railroad at a rental
of 7 per cent on stock ($123,850) and interest on
bonds. G. Burt, Presi
dent, Warwick, N. Y.
Midland of New Jersey.—Oct.
1,1880, owned from West End, N. J.. to
Unionville (N. Y.Line), 72miles; leased-N. J. State Line
to Middletown,
N. Y., 13 miles; total operated, 85 miles. The N.
J. Midland was placed
in the hands of Receivers March
30,1875. The road was sold in foreclos¬
ure Feb. 1,1880, and
reorganized as the Midland of New Jersey. Holders
of third-mort. bonds, common debts, and stock of
the N. J. Mid. RR. were
allowed to fund the same into income bonds of
the new company, viz.:
Common-debt holders and
third-mortgage bondholders, for principal of
fconds to reocive 50 par cent in income
bonds, Class A, and 50 per cent
in income bonds, Class B,
on payment of 10 per cent assessment, and
stockholders on payment of 15 per cent. Those holders not availing
tiiems4vee of this offer were allowed to
exchange their common debts
and
principal only of third-mortgage bonds forlncome bonds, Class
B,
payment of 5 per cent, and stockholders on payment of 10
per cent
assessment on or before
May l. Interest on $500,000 of first mortgage
bonds is 6 per cent; but on
$3,000,000 is 5 in 1881 and 1882 and 6 per
•out afterward. The stock has a
preference over the income bonds to
axtent of 7 per cent per annum, but no
mortgage oan be put on the propertv
aheadofincomes. Gross earnings in 1878 were
$122,406. In 1879 gross earnings, $745,069, all$839,703; net earnings.
used up in running expenses, renewais, Ac. Gross, May 16 to Aug.
31,1880, $199,881; net,
$65,482. (V. 28, p. 326, 964; V. 29, p. 252,538, 670; V.
30, p. 92,
222’ S*8* 273,323, 385, 409, 519, 544, 5 66; Y. 31,p7 328,
on
JjZ\169,
1875-960
M.
M.
J.
M.
M.
7 g.
&
&
A
A
&
N. N.
N.
J.
N.
Whom.
A.
A.
A.
J.
M.
F.
F.
Dividend-
do
do
do
do
1902
Middleto’n,N. Y.,lst N.B
July 1, 1885
Mayl, 1890
Sept. 1, 1891
1886
10
7 g.
7 g.
7 g.
7
950,000
280.000
1,020,000
976,000
998,000
8
8
&
&
&
A
A
A
A
O. N.Y., Nat. Bk. Republic.
O.
do
do
O.
do
do
D. N. Y., S. S. Sands A Co.
S.
do
do
A.
do
•>
do
A.
do
do
AD. Milwaukee and N. Y.
April 1, 1910
April 1, 1950
April 1, 1950
J.
7
7
9
4, 5,6
33*
J.
J.
J.
J.
M.
J.
A.
J.
A J. Phila.M.H. AS.H. R.Co.
A J.
A J. N.Y., Contiueutal N.Bk.
A D.
do
do
A N.
do
do
A D.
do
do
A O. N. Y., Imp. A Trad. Bk.
A J.
do
do *
July 16, 1880
.
21,405,000
2,316,000
349,000
14,752,000
7,571,553
6 g.
7 g.
7 g.
956.000
(1)
7 g-
768,000
32,000
7 g.
7 g.
Milicaukec
Stocks—Last
Y., Union Trust Co. May 1.1902-3
do
do
do
do
S.
....
Payable, and by
....
6 & 5
6
6
7
7
320,000
455,000
500 &c.
1,000
8
8
8
8
8
0)
4.022.500
....
1868
1877
1877
1877
1879
1877
1877
Rate per When Where
Cent.
Payable
$124,000
1,906,000
1,024,000
514,000
1.943,000
400,000
3,000,000
3,500,000
3.000,000
1,700,000
750,000
572,000
200,000
230,000
179,000
....
....
here made between 1879, 1878 and 1877 the full
year in each
a proper one:
Outstanding
1,000
1,000
1,000
1880
1880
1880
1875
1879
1879
1880
1880
1880
given to make the comparison
INTERE8T OR DIVIDENDS.
Amount
$....
Balance for 1880. appropriated as follows: Dividend8
percent (Aug.,
1880, and Feb., 1881), $1,499,056; construction, $100,000; Jaekson acci¬
dent, $70,000; surplus, 95,944. Total, $1,765,000. The last annual
report was published in the Chronicle, V. 28, p. 473. The fiscal year
of the company formerly ended with the month of May;
in 1877 It was
changed so as to end with the month of December, but in the comparisons
Operations—
Passengers carried
Passenger mileage
[VOL. XXil.
6
A
A
A
A
J.
J.
F.
A.
M.
J. N. Y., Union Trust Co.
D.
do
do
A.
do
do
O.
do
do
A N.
do
do
do
do
M. A N.
do
do
M. A N.
do
do
June 1, 1895
Mar. 1, 1909
Aug. 1, 1909
Aug. 1, 1910
1890
Jan.
Jan.
Feb.
Jan.
June
1, 1890
1, 1907
1, 1927
1,
1,
April 1,
July 1,
1907
1909
1902
1902
Jan., 1899
June, 1903
1904-1906
April 1,1911
May 1, 1906
....
Lake
Shore
Western— Oct.
d
31,
May L 1890
May 1, 189
1880, owned
from
Milwaukee, Wis., to Wausau, Wis., 210 miles; branches—Ilortonville to
Oshkosh. 23 miles; Manitowoc to Two Rivers, 6 miles, and Eland.Junc¬
tion to Birnamwood, 5 miles; total
operated, 244 miles. It is a consoli¬
dation of the Milwaukee Manitowoc & Green
Bay and the Appleton A
New London railroads.
Road was built to Clintonville at tne close
of 1878 and completed to Wausau in
1880; further extensions in
progress.
The company defaulted on the interest of its bonds in Dec.,
1873. and on December 10, 1875, the
property was sold in foreclosure
for $2,509,788 and purchased
by bondholders. The reorganized com¬
pany has $5,000,000 preferred stock and $1,000,000 common stock, and
funded debt as given above.
In 1879 gross earnings were $315,942;
operating expenses. $187,983; net earnings, $127,959.
(V. 29, p.
226; V. 30,
p4
84, 144, 464.)
Milwaukee & Northern
to
—
Oct. 1, 1879, owned from
Green Bay, Wis.,
Schwartzburg, Wis.,1 104 miles; branch, Menoslia. Wis., to Hillbcrt,
Wis., 16 miles; total operated, 120 miles. Opened November 25,1872.
The new bonds carry 4 per cent for two
years, 5 per cent for one year
and 6 thereafter.
June 5, 1880. foreclosure was made and road sold
for $1,500,000. It is leased to Wisconsin Central at a
rental of 371*
per cent on gross earnings, terminable by either party on 6 months’
notice. (V. 28, p. 454; V. 30, p. 273, 599,
650; V. 31, p. 588.)
Mine Hill & Schuylkill Haven.—Nov. 30,
1879, owned from Schuylkill
Haven. Pa., to Locust Gap, Pa., with branches, 661* miles. Road was
leased May 12,1864, to the Philadelphia &
Reading Railroad Co. for 999
years at a rental of 8 per cent on the capital stock. There is no debt,
and 7 per cent dividends are
paid. Operations not separately reported;
included in lessee’s returns.
Mineral Point, Wis.—Sept. 30,1879, owned from Mineral
Point, Wis.,
to Warren, Ill., 33 miles ; branch, Calamine to
Platte ville, Wis., 18
miles; total operated, 51 miles. In 1877-8, gross earnings were
$125,570; net, $52,300. The stock is $1,200,000. Luther Beecher, President,
Detroit, Mich.
(V. 31, p. 535.)
-
Minneapolis d St. Louis.—June 30, 1880, owned from Minneapolis to
Albert
Lea, 108 miles; Albert Lea to Fort Dodge, 102 miles; leased, Min¬
neapolis to White Bear Lake, 15 miles; White Bear Lake to Duluth, 143
miles; total operated, 368 niiles.^ Connects with the Cedar Rapids A No.
Railway. Road was completed in 1877. Gross earnings for year 1878-9,
were $471,344; net
earnings, $186,640. The bonds of the $1,100,000
mort. (1877), numbered from 1.101 to
1,400, for $500 each ($150,000 in
ail), are guaranteed by the Burlington Cedar Rapids A Northern Rail¬
road. The bonds on the 15 miles were issued
by the Minneapolis A
Duluth Railroad before it was absorbed
by this company. Stock issued,
$2,000,000. (V. 30, p. 248, 432; V. 31, p. 328.)
Mississippi & Tennessee.—September 30, 1830, owned from Grenada.
Miss., to Memphis, Tenn., 100 miles. Capital stock, $825,400. Debt
was
consolidated as above in 1877. Earnings for five
years past wer*
as follows:
'
Gross
Years.
Miles.
100
100
100
100
100
Net
Earnings.
$469,272
Earning®.
$241,798
212,768
176,935
169,955
269,379
433440
378,780
373,687
525,489
-(V. 28, p. 95; V. 31, p. 205, 587.)
Missouri Kansas d Texas.—Dec. 31,1879, owned from
Hannibal, Mo.,
to Denison, Texas, 576 miles;
branches—Parsons, Kan., to Junction City,
Kan., 157 miles; Holden (Mo. Pac. RR.) to Paola, Kan., 54 miles; Deni¬
son, Tex., to Whitewright, Tex., 21 miles; total operated, 808 miles.
In
Feb., 1880, the 54 miles, Holden to Paola, was leased to Mo. Pac. This
company was organized April, 1870, and embraces by consolidation the
Union Pacific—Southern Branch, the Tebo & Neosho and other minor
companies. In 1874 the Hannibal & Central Missouri was purchased.
This company made default on their consolidated bonds in
Dec., 1873,
and was operated by a receiver from Dee.
30,1874, to July 1,1876, when
the Union Trust Company of New York took
possession. The election
of Mr. Gould as President took
place in January, 1880. On Dec. 1,
1880, the company took possession of its property, paying the overdue
coupons. The company had a land grant from the United States esti¬
mated at 817,000 acres and from the State of Kansas
125,000 acre®.
There is also a grant in the Indian
Territory of 3,622,400 acres subject
to the extinguishment of the Indian title.
The Booneville Bridge Oo.
is a separate organization, and earns interest and
proportion for sinking
fund. Nov. 17,1880, stockholders voted to increase stock
by $25,000,000, to make extensions to Rio Grande River and City of Mexico and
Smith, Ark. See V. 31, pages indexed below. Prices of stock and
monthly earnings have been:
Fort
1877.
Jan.
Feb
Mar
Apr
May
J’ne.
Prices of Stock.
1878.
1879.
4
3*2
6V
5%
3V
3*3
9 6
3V 2* 11 - 7^
4V 2% 17B8- 9^8
3 -23* 18V 13%
3V 23* 153*- 11*
-
-
-
5-43*
5V 534
.
1880.
49V
48*446*a453s35V
38V
Monthly E;
1879.
18*
32
$194,453 $307,327
42
194,855 326,306
41 *8 224,559 355,508
33*8 180.218 348,275
283a
283®
217,833
221,892
274,026
307,052
STOCKS AND
RAILROAD
December, 1880. J
Subscribers will confer a
great fluror by giving
1st mortgage,
Date
Size, or
Amount
Rate per
Par
of
Outstanding
Cent.
Value.
Road. Bonds
tables.
708
283
283
gold.
Real estate (depot) bonds
Debt to St. Louis County (no bonds)
3d mortgage
Consolidated mortgage, gold, for $30,000,000
Carondelet Branch, 1st mortgage
Missouri River RR., 1st mort
Leavenworth Ateli. A N. W., 1st mort., guar
St. Louis & Lexington, 1st mort
15*a
21
m
1,000
1,000
186
506
506
506
506
506
506
40
137
84
-...
sinking fund
84
Convertible bonds
Construction bonds
Gen. m. A 1st on Boonton Br. Ac. (guar. D.L.&W.)
Consol, mort. (for $25,000,000) guar. D. L. A W..
34
137
1869
1877
July
Aug.
Sept
•Oct..
Nov.
Dec.
4V
5*46*27*2-
4*2
3
4%
5V
5 -
45s
2*24*84V
7V
7*8-
4*2
63s
3
-
“The M. K. A T. bonds and
2*2
2
2*8
3*2
4*8
5
1879
1879
1879
1879
1879
1880
1864
500 *fec.
1866
vari’us
1,000
1871
1,000
1871
1,000
1875
1,000
•
•
•
Monthly Earnings.
30*2- 19
35%- 20
1879.
1880.
39V
39 %37*239 %41*2- 3(3%
306,329
380,759
387,710
387,083
350,700
369,065
407,549
33V 27*4
Miles.
draw five per oeut in 1879
V. 30, p. 295. Earnings for
Gross Eam’gs.
$2,904,925
3,217,278
786
786
786
786
786
3,197,321
2,981,681
3,344,291
Net Proceeds
$1,224,560
1,215,999
952,211
428,833
1,140,439
-(V. 28, p. 146, 173, 298 ; V. 29, p. 119, 170, 278, 302, 358, 658 ; Y. 30,
67. 117, 295, 556. 567, 650; Y. 31, p. 382, 405, 429, 484, 510, 535,
.
88, 606.)
1880, embracing
Lexington, Kan
sas City A Eastern and Lexington A Southern in Missouri; and the St.
Louis Kansas A Arizona and Kansas City Leavenworth A Atchison in
Missouri Pacific.—This was a consolidation in August,
589 miles, made up of the Missouri Paoiflc, St. Louis A
the State of Kansas, 708 miles in all. See V. 31, p. 205.
The Missouri Pacific, prior to this consolidation, was as
St. Louis, Mo., to State Line of Kansas, 283 miles;
follows : From
branch line, Kirk
wood, Mo., to Carondelet, Mo., 13 miles; leased lines, 127 miles, as
follows: Osage Valley & Southern Kansas, 25 miles; St. Louis & Lex¬
ington, 55mile8; Missouri River R. R., 25 miles; Leavenworth Atchison
A Northwestern, 22 miles; total operated in 1878 423 miles.
In
Feb., 1880, leased also St. Jo. A Atchison branch of Hannibal A St. Jo
RR., 19 miles; and the branch, Holden to Paola, Kan., which, with the
iSt. L. Kans. A Arizona, built by this road,makes 112 miles, Holden to Le
Roy. The Pacific RR. of Mo. was sold in foreclosure of the 3d mortgage
Sept. 6, 1876, for the nominal price of $3,000,000, to C. K. Garrison
and others, and this company was organized with a stock of $800,000.
The validity of the sale has been contested, but the U. S. Supreme Court
‘decided in favor of the present company. In 1879 the gross earnings
were reported at $3,922,893; net earnings, $1,783,734.
Jan. 1 to
Nov. 1, 1880, gross earnings, $4,374,036; net, $2,081,177. Default
was made on Carondelet Branch bonds Oct. 1, 1877, and compromise
bonds at 50 per cent were offered January, 1878. In October, 1880,
quarterly dividends at the rate of 1*2 per cent were begun. The con¬
solidated mortgage above is for $30,000,000—trustees John F. Dillon
And Edward C. Adams. The bonds are issued to retire the outstanding
bonds of the consolidated company, as
$20,184,000.
above given, amoimting to
The remaining $9,816,000 are
to be issued as may be
required for finishing, constructing, purchase, acquisition, Ac. (V. 28,
18; V. 29, p. 293, 433, 538; V. 30, p. 192, 222, 273, 322, 409, 544,
«50; V. 31, p. 123, 151, 205 ; V. 31, p. 328, 382, 454, 583, 606.)
p.
Trunk—Deo. 31,1879. owned from Mobile, Ala.,
Bigbee Bridge, 59 miles. The stock was $450,000; 1st mortgage bonds,
$1,124,000. City Mobile bonds donated $750,000. The company has
lust been reorganized (see V. 30, p. 222). The plan proposed was to
■Issue for the first mortgage bonds 6 per cent second mortgage bonds for
75 per cent of their face and 25 per cent in stock for the balance; then
Mobile & Ala. Grand
to
for $3,000,000 upon the entire line
complete the road. Francis B.
to issue a new 6 per cent mortgage
•of 232 miles, which it is estimated would
•Clark, President, Mobile, Ala.
1875-960
(V. 30, p. 222.)
Mobile & Girard—May 31,1879, owned from Columbus, Ga., to Troy,
Ala., 84 miles. Common stock, $987,164; preferred stock, $279,745, and
$12,130 Pike County stock. Second mortgage bonds are endorsed by
Central RR. of Ga., which company holds also for advances made the 4
per oent third mortgage bonds. Gross earnings in’1878-9 were $195,907
and net earnings, $60,335. In 1879-80 gross earnings $228,039; net,
$78,704. (Vol. 29, p. 40.)
Stocks- Last
Dividend.
Payable, and by
Whom.
Payable
7
A. A O. N.
8
3, 1831
Aug., 1888
Jan.
Y., B’k of Commerce.
July, 1891
May 1, 1892
Feb., 1885
Oct.
1, 1893
Oct!
1, 1889
'
•
•
•
1894
A J.
J.
6
1,200,000
1,050,000
....
•
....
....
•mm
....
—
450,000
1,124,000
300,000
800,000
•
7
8
4
....
J, A J. N. Y., Nat. City Bank.
do
do
J. A D.
F. A A. N. Y., Drexel, M. A Co.
2*a
3,022,517
5,320,600
7,000,000
5,300,000
•
•
•
....
•
6 g.
7
7
7
7
6
2
600,000
900,000
600,000
800,000
50
250
Where
7
7
6 g.
6 g.
6 g.
7
1,850,000
1880.
16V 14*2
17 - 13*4
21*4- 13%
U. P. S. Br. bonds
1875
1876
1877
1878
1879
1,000
•
-s
80-81. The annual report was published in
five years past were as follows:
Years.
1,000
100
100
Speoial real estate mortgage—,
1877.
m
100
56
85
do
do
do
-Prices of Stock.—
1879.
1878.
-
56
not cumulative
.
1874
When
New York, Offioe.
F. A A. N.Y., Imp.ATr. Nat. Bk.
do
do
J. & J.
do
do
M. A N.
St. Louis.
mont’ly
M. A N. N.Y., Imp.ATr. Nat. Bk.
New York Agenoy.
M. A N.
do
do
A. A O.
1*3
$100 $12,419,800
7,000,000
1,000
2,573,000
1,000
800,000
500 Ac.
700,000
4,500,000
1,000
3,652,000
1,000
250,000
1,000
409,000
479,000
1,000
650,000
348,000
70
in gold
-Montpelier eft Wells River-Stock
Morris eft Essex—Stock
1870
43
—
Lexington A Southern, 1st mort.
Mobile <t Alabama Grand Trunk—Stock
1st mortgage bonds
Jlobile <t Girard—2d mort., end. by Cent. Qa. RR..
3d mortg. bonds issued to Central R. R. Qa
Mobile A Montg.—Stock
Mobile <£ Ohio-Stock
New mortgage, principle payable
1st pref. inc. and s. f. debentures,
do
2d
do
3d
do
do
4th
do
do
Cairo extension
1868
1871
1872
1876
1880
1873
299
709
Kansas City & Eastern, 1st mort
St. Louis Kansas & Arizona, 1st mort
1st mortgage,
Qd mortgage
pal, When Due.
VTilna
DlliOo
of
first page of
discovered in tbese Tables.
Bonds—Princi¬
immediate notice of any error
INTEREST OR DIVIDENDS.
DESCRIPTION.
on
XXXIX
BONDS
3*3
15,000,000
5,000,000
7
7
7
7
7
7
3,000,000
284,000
573,000
4,991,000
5,050,000
1,025,000
7
A D.
J.
Mobile and New York.
New York
Yearly.
Yearly.
Yearly
do
do
do
do
do
A J.
1892
Boston.
J.
M
F.
J.
F.
A.
4 J.
A
A
A
A
A
A
A
J.
N.
A.
J.
N.
Dec** 1,'1927
City.
do
do
do
Yearly.
J.
Jan., 1889
June, 1897
Feb.. 2, 1880
Y., Del., Lack A W.
Feb., 1880
Jan. 1, 1881
do
do
do
do
Mayl, 1914
do
do
A.
O.
do
do
D.
do
do
do
do
Aug. 1, 1891
Jan. 1, 1900
Aug. 1, 1889
Oot., 1901
^
June 1,1915
....
Artesia, Miss., to Starkville, Miss., 11 miles; Muldon, Miss., to Aberdeen,
Miss., 9 miles; total operated, 506 miles. In 1880 extension to Cairo, Ill.,
20 miles, to be built. The company funded coupons from their bonds in
Feb., 1867, and resumed payment of interest May, 1870. In 1872 the 2d
mortgage bonds were issued to pay floating debt. A default was made
May 1, 1874. and two trustees and receivers took possession May 8,
1875. The stock and bonds of the company were plaoed on the N. Y.
Stock Exchange list in July, 1879, and from the statement then sub¬
mitted the following revised description is taken. The new liens issued
and to be issued areas follows: First— New mortgage to the Farmers'
Loan A Trust Co., of New York, as trustees, upon the main line, excluding
branches, to secure bonds in the aggregate amoimting to $7,000,000,
dated Juno 1, 1879, due, in gold com of the United States, Dec. I,
1927, interest at 6 per cent per annum in lawful money, represented
by coupons, payable June 1 and Dec. 1 each year, in the cities of New
York and Mobile. The whole amount of these bonds will be issued at
once.
Second.—Deed of trust to the Farmers’ Loan A Trust Co., as trus¬
tees, to secure four series of preferred income and sinking fund deben¬
tures. which will be issued only to the extent required to meet the out¬
standing liabilities of the Mob. A O. RR. Co., after deducting the amount
of such liabilities provided for in and by the new mortgage of $7,000,000.
These debentures are secured by a deed of trust to the Farmers’ Loan
Trust Company, covering specifically the lands (including over
1,150,000 acres of land donated by the United States) and other prop¬
erty not necessary for the operation of the road.
Interest at the
rate of 7 per cent per annum, or in multiples of 1 per
not exceeding 7 per cent in any one year on these debentures,
is payable annually upon each series in the order of their priority,
but only if earned in the preceding fiscal year, and is non-oumulati ve. The holders of debentures have one vote for each $100, and ea ah
A
year
cent, but
they instructed the Farmers’ L.
A T. Co., trustees, how to
vote at
the Mobile &
is irrevocably
extinguishment oi
issued in for¬
of
the stockholders’ meetings upon the majority
the stock of
Ohio Railroad Company, the power to vote upon which
with the Farmers’ Loan A Trust Company, until the
said debentures. The foregoing bonds and debentures are
bearance, extension and compromise of the present
Mobile & Ohio Railroad, the entire amount of which (excepting
indebtedness of tha
less than
1 per cent of the first liens and a very limited percentage of the inferior
liens), with the power and authority to avail of the decrees of the
Circuit Court of the United States, adjusting and establishing said in¬
debtedness, are assigned and transferred to the Farmers' Loan A Trust
Company, as trustees, for the further security of the bonds and deben¬
tures herein referred to. The capital stock authorized by the charter is
$10,000,000, or 100,000 shares of $100 each, of which there have been
issued 53,206 shares. The debentures are secured by a deed of trust of tho
land, about 1,150,000 acres, and receive 7 per cent, If earned. In August,
1880, 7 per cent was declared on 1st preferred incomes, payable 3**
September 1,1880, and 3*2 February 1,1881; also 1 per cent on 2d
incomes, payable December 1,1880.
The last annual report was published in the Chronicle of September
4, 1880, V. 31, p. 257.
Operations for five year* ending June 30
were as
follows:
Passenger
Miles.
Mileage.
9,044,895
529
9,004,770
529
8,715,315
529
6,968,900
506
10,468,635
506
Years.
*
After
deducting all expenses,
*Net
Gross
Freight (ton)
Mileage.
Earnings.
Earnings.
52,319,056
61,388,247
70,706,581
58,339,703
80,406,765
$1,984,536
$211,515
2,072,634
2,098,540
1,830,620
2,284,615
163,226
376,321
379,468
824,966
including extraordinary.
-(V. 29, p. 41,120. 250; Y. 30, p.
222, 434; V. 31, p.
153, 257, 559.)
31,1879, owned from Montpelier to
1877. D. R. Snortwell#
Y. 30, p. 272. Gross
1879, $84,520; net, $19,558, against $19,681 in 1878. (Y.
Montpelier eft Wells River.—Deo.
Wells River, Vt.. 38 miles. Reorganized January,
President. East Cambridge, Mass. Annual report.
earnings
in
30, p. 169, 272 )
Phillips
A Es. Tunnel, to
this road
leased in perpetuity to the Del. Lack. A W. RR. The lessees assume
all liabilities of the Mor. A Essex RR. and pay 7 per oent per annum on
Mobile eft Montgomery —Deo. 31,1879, owned from Montgomery, Ala., the capital stock, and they also agreed to pay 8 per cent in. case tho
to Mobile, Ala., i79 miles. Default was made on the bonds in 1873 and Morris & Essex earns 10 per cent on its stook In any one year after tho
the road was sold in foreclosure Nov. 16,1874, and purchased by bond¬ year 1874. Earnings for five years past were as follows:
Div'd
Net
holders, who organized this company on a stock basis. The road has done
Gross
p. ct»
Earnings.
well, and in Nov., 1879, $1,550,000 of the stock owned in this country was
Miles.
Earning!.
Years.
7
purohased by parties in the interest of the Louisville A Nashville Rail¬
*1,475,714
121
$4,340,351
road at 80, giving the control to that company. The old mortgage debt 1875
7
1,184,723
121
3,452,319
7
JOt out is $275,000. Gross earnings in 1879, $704,580; net, $228,713. 1876
1,222,507
121
3,368,441
7
*.r,i iMMm 1877
—(V. 28, p. 327; V. 29, p. 608; Y. 30, p. 169, 247.)
782,328
121
2,710,117
1878
Mobile & Ohio,—June 30,1880,
owned from Mobile, Ala., to Columbus,
Ky., 472 miles; branches—Artiesia, Miss., to
Columbus, Miss., 14 miles
Morris eft Essex.—Dec. 31,1879, owned from Hoboken, N. J., to
burg, N. J., 84 miles; branch, Denville, N. J., via Mor.
Hoboken, N. J., 34 miles; total operated, 118 miles. In 1868
was
1879
121
-(V. 28, p. 451; Y. 30, p. 566.)
3,515,007
1.550,354
7
xl
.
Subscribers will confer
a
For explanation of column headings, Ac.,
on first page of tables.
11887755--696900.
54
Amount
Outstanding
$100
Nashville Chattanooga d St. Louis—Stock
Bonds to U. S. Government, 2d mort
Bonds endorsed by Tenn
New 1st mort. (for $6,800,000) coup
Bonds of N. C.A St. L., 1st mort. on two branches
345
340
151
„
2d mortgage
Naugatuck—Stock
Ncsquehoning Valley—Stock
1870
1867
1880
1,000
94
5
44
NewburgDutchess d Connecticut—Income bonds...
Newburg d New York— 1st mortgage
New Castle d Beaver Valley—Stock
[vol. xxxr.
13
127
92
Haven d Northamp, (canal RR.)—Stock
Mortgage bonds, coupon.
Bonds convertible, tax free, coupon
Holyoke & W.,leased. 1st M.<$60,000 6s, ’98 guar.)
New
....
....
50
1879
1880
1869
1869
A*
^
ioo
100
100
121
147
....
1865
1872
1880
1880
1880
500 &c.
1,000
100
100 Ac.
500 Ac.
....
Nashua d LowelL—March 31, 1880, owned from Lowell, Mass., to
Nashua, N. H., 15 miles; leased—Stony Brook RR. 13 miles; Wilton RR.,
16 miles; Peterborough RR., 10 miles; total operated, 54 miles.
The road was operated with the Boston A Lowell till Oct. 1,1878. In
November, 1880, a lease for 100 years to the Boston & Lowell was
made. Operations and earnings for five years past were as follows:
Passenger
Freight (ton) Gross
Net
Div.
Years.
Miles.
Mileage.
Mileage.
Earnings.
Earn’gs. p.c.
54
10,995,583
7,146,923
$502,325 $133,721 2
54
11,049,587
7,119,318
506,047
142,063 4
54
10,832,906
7.526,444
481,358
140,306 2
54
6,610,125
7,733,360
377,006
168,793 6
54
6,224,991
9,281,579
391,923
160,152 G*a
—(V. 29, p. 459 ; V. 31, p. 67, 482, 509.)
Nashville Chattanooga d St. Ijouis.—June 30, 1880, owned from Chat¬
tanooga, Tenn., to Hickman, Ky., 321 miles; branches—Wartrace, Tenn.,
to Shelbyville, Tenn., 8 miles; Bridgeport, Ala., to Victoria, Tenn.. 19
miles; proprietary lines—Nashv. to Lebanon, 30 miles; McMinnville to
Manchester, 35 miles; Decherd to Fayettev., 40 miles; total, 453 miles.
In 1872 this company purchased the Nashv. A North. RR. from the
-
-
11887754--6965900.:
6
'
6
2,120,000
1,000
1,000
1,000
6 & 7
275,000
7
200,000
1,500,000
300,000
387,500
812,000
5,000,000
3,000,000
N.
Nov.
1. 1880
N.Y.,OfficeN.Y.L.E AW
Newcastle, Penn.
Various N. Haven, Mech. Bank.
(V
7
3
7
6
260,000
1,200,000
1,000
1,000
1,000
Boston A Nashua.
Bost..ParkerASt’ckpole. Aug. 1, 1893
7
ss-
525,000
2,460,000
1,300,000
190,000
....
N.
A.
Nov. 1, 1889
312
605,000
68&70 500 &c.
100
1869
1,000
&
&
&
&
&
&
&
&
&
&
Stocks—Last
Dividend.
M. & N.
6 g.
7
5
1,164,500
250,000
....
....
M.
F.
A.
J.
J.
J.
J.
J.
J.
J.
Where Payable, and by
Whom.
April 1, 1880
6
178,000
175,000
2,000,000
1,300,000
720,000
250,000
800,000
500 &c.
30
78
«
mortgage, debenture
1869
When
Payable
O. New York A Nashville.
D. N. Y., V. K. Stevenson.
J. N. Y., Metrop. Nat. Bk.
J.
do
do
J.
do
do
J.
do
'
do
J.
do
do
D.
J. & J. N. Y., Drexel, M. A Co.
A. & O. Nashville, Co.’s Office.
A. & O. N. Y., Bank of America.
J. & J.
Bridgeport, Conn.
M. & S. Philadelphia, Co.’s office
A. & O. N.Y., Phelps,StokesACo
6
8
3
7
1,642,000
1,955,000
.
500
500 Ac.
100
50
1870
■
.
1,000
17
Consol, sinking fund and mort. bonds
New Jersey d New York— 1st mort. (reorganization)
N. J. Southemr—1st mortgage
.
Bonds—Princi"'
pal,When Due.-
7 g.
320,000
300,000
90,000
1,000
1,000
1879
12'
15
New Haven d Derby— 1st & 2d mortgages
,
4,902,000
1,000
.
6
2
4
6
7
6,848,899
1,000,000
898,000
10,000
1,000
1,000
16*2
Nevada Central— 1st mort., gold (sink, f., $20,000)
Newark d Hudson—1st mortgage
Newark Somerset d Straitsv., O.—1st mortgage
New London Northern—Stock
1st mortgage bonds
2d mortgage
Consol, mortgage (for $1,500,000)
New Orleans Mobile d Texas— 1st mort., gold
25
„
7*2
122
122
122
99
57
Natchez Jackson d Columbus.— 1st mort. ($600,000)
guar
.
312
200,000
1871
1857
1873
1877
1877
340
75
30
do
1st mort. on Tenn. A Pac
clo
do
do
for Jasper Branch
Nashville d Decatur—Stock, guar’d 6 p. c. by L. & N.
1st mort. guar. s. f
.
Rate per
Cent.
$800,000
1873
Long Branch A Sea Shore, 1st mort.,
BONDS.
INTEREST OR DIVIDENDS.
Miles
Date Size, or
of
of
Par
see notes
Road. Bonds Value.
Nashua d Lowell—Stock
Bonds for freight depot (gold)
1876-90.
AND
great favor by giving immediate notice of any error discovered in these fables.
DESCRIPTION.
2d
STOCKS
RAILROAD
7
lig
6
7
5
6 g.
6
1881 and ’91
•1881 tol886f
July 1, 1913
Jan.
Jan.
Feb.
Dec., 1880
-
N.
July 1, 1900
Oct., 1887
April 1, 1910
July 15,1880
Sept. 1, 1880
Oct. 1, 1904
Y., Union Trust Co.
Q.—J.
J. & J.
A. & O.
A. & O.
A. & 0.
M. A N.
M. & N.
J. A D.
New Haven.
do
do
do
do
Jan., 1881
1898 to 1900
Oct., 1873
Jan., 1899
April ’80 A ’82
Apr.1,’91 A’98
Jersey City, Co.’s Office.
New York.
New. London, Office.
Q.—J.
A. A 0. N. Y., B’k of N. America
J. A D.
do
do
J. A J.
do
do
J. A J.
....
Y., to Millerton, N. Y., 59 miles.
1, 1917
1, 1917
1, 1907
April 1, 1909
1910
Nov.
Dec.
Jan.
.
1, 1889
1899
1,
1,
Sept.,
July,
1881
1885
1892
July, 1910
Jan. 1, 1930
May, 1930
The Dutchess A Col. RR.
sold
was
Aug. 5.1876, and this company was organized Jan. 8,1877, by the pur¬
chasing bondholders. In 1877-8 gross earnings were $135,823; net,
$5,921; in 1878-9, gross, $164,488; net, $18,845. The common stock
is $172,000 and preferred stock $715,350. John S. Schultze, President,
Moor’s Mills, N. Y.
Newburg d N. Y.—Oct. 1, 1879, owned from Vail’s Gate Junction to
Greenwood Junction, N. Y., 13 miles. Leased October 5, 1866, to Erie
RR., at $17,500 per annum, and operated now by N. Y. LakeE. A West*
Nominal stock, $500,000.
New Castle d Beaver Val— Dec. 31.1879, owned from Homewood, P&.r
to New Castle, Pa., 15 miles. Road in operation since 1860. Leased toPittsb. Ft. W. A Chic. RR. for 99 years at a rental of 40 per cent on gross
earnings. Lease transferred to Pennsylvania Company. There is no debt.
In 1878, 24 per cent in dividends was paid; in 1879,13
per cent. Gross
earnings in 1879, $257,815; rental received, $103,126.
New Haven d
Derby.—Sept. 30,1880, owned from New Haven, Gonn.,
Road opened Aug. 9, 1871. Capital stock
is $447,100. New Haven City guarantees the $225,000 second mort¬
State of Tennessee and in 1877 the Tenn. A Pacific RR.
In 1879 they gage bonds.
Gross earnings in 1878-9, $106,478; net, $52,535; gross
acquired the St. Louis A Southeastern and Owensboro & Nashville. The earnings in 1879-80, $122,886; net, $48,776.
company in 1879-80 had formed connections for a through route
New Haven d Northampton.—Sept. 30, 1880, owned from New Haven,
from St. Louis, Mo., to Savannah, Ga., being in active competition
Conn., to Bardwell’s Ferry, Troy & Greenfield RR., 95 miles; branches—
with the Louisville & Nashville Railroad Company. At this
juncture the
officers of the last-named company purchased a
controlling interest in Farjnington, Conn., to New Hartford, Conn., 14 miles ; Simsbury, Conn.,
the stock of
the Nashville Chattanooga A St. Louis Company.
(See
Chronicle, V. 30, p. 91.) The debt to the United States and the bonds
endorsed by Tennessee are secured by deposit in trust of this
company’s
first mortgage bonds. Earnings for five years
ending June 30 were as
follows:
Gross
Years.
Miles.
341
341
454
454
454
Earnings.
$1,751,600
1,632,277
Net
Earnings.
$728,176
682,302
767,995
715,135
Div’d
p. ct.
3
3
2
3
1,871,809
1,736,723
2,099,155
914,407
-(V. 28,p.554; V. 29,p.224,407.511, 631, 658; V. 30, p. 91, 222, 248,
357, 675; V, 31, p. 328, 380, 429, 588.)
*
Nashville d Decatur.—June 30, 1879, owned from
Nashville, Tenn., to
Decatur, Ala., 122 miles. The road was leased May 4, 1871, to the L.
& N. RR. for 30 years from
July 1, 1872, at a rental of 6 per cent per
annum on the stock, to begin after the
completion of the So. A North Ala.
RR., and the first dividend under this arrangement was paid April 1,
1875.
The lessee assumed all the debt of the Nashville & Decatur Co.
Natchez Jackson d
Columbus.—Sept., 1880, owned from Natchez,
Miss., to Martin, Miss., 43 miles. In progress to Jackson in 1880 (35
miles being graded), and bonds sold in New York
by Britton & Burr.
Naugatuck.—Sept. 30, 1879, owned from Naugatuck Junction to
Wineted, Conn., 56*2 miles; leased, Watertown A Waterbuiy RR., 4*2
miles; total operated, 61 miles. From Naugatuck Junction Bridgeport
is reached by use of the track of the New York New Haven & Hart¬
ford Company. Has no bonded or floating debt.
Operations and earn¬
ings for four years past were as follows:
Passenger Freight (ton)
Gross
Net
Div
Years.
Miles.
....
66
66
66
66
Mileage.
5,899,088
6,214,917
6,322,281
-(V. 31, p. 509, 557.)
Mileage.
4,308,194
Earnings.
Earn’gs. p.c.
5,742,605
$520,820
477,834
7,366,813
499.188
222.275
592,151
242,063
$207,759
206,301
10
10
10
10
Nesoniehoniny Valley.—Dec. 31,1879, owned from Nesquehoning Junc-
tion, Pa., to Taraenend, Pa., 17 miles; Tunnel Branch, Hauto, Pa., to
Lansford, Pa., 1 mile; total operated, 18 miles. Opened in 1870, and
was leased for 999 years
to the Lehigh Coal & Nav. Co. at a lease rental
of $130,000 per annum, but with an option for
the lessees to terminate it
after 1878. In 1879 the lease was modified so as to
pay 7 per cent a
year only. (See terms, V. 29, p. 18.)
Nevada Central— Dec. 31,1879,owned from Battle Mountain to Led-
lie, Nev.. 86 miles; branch, Ledlie, Nev., to Austin, Nev., 7 miles; total
operated. 93 miles. Bonds admitted to N. Y. Board April, 1880. (V.
30, p.409.)
v
Newark d Hudson—Dec. 31,1879, owned from
Bergen Junction to
Newark, N. J., 6 miles. Leased to New York Lake Erie A Western at a
rental of $33,000 per annum, which
pays interest on bonds and 7 per
cent on the stock of $250,000. ' Cortlandt
Parker, Pres’t, Newark, N. J.
Newark Som. d Straitsv.—Sept.
30,1879, owned from Newark, O., to
Shawnee, O., 44 miles. Road was completed in 1871. Leased to Sandusky
Mansf. A Newark for 14 years from Jan.
1,1872. Operated by the Balt.
P&y8 30 per cent on gross earnings, and advances
any
additional amount necessary to meet the interest on the debt.
Capital
stock, common, $783,900, and preferred, $189,550. Gross earnings in
1877-8, $135,295; net, $50,749 ; deficit to lessee, $5,251.
Ncwb. Dutchess d Conn.—Sept.
30,1879, owned from Dutchess June.,
to
Ansonia, Conn., 13 miles.
to
Tariffville, Conn., 1 mile; South Deerfield to Turner’s Falls, 10 miles:
Northampton to Williamsburg, 8 miles; leased, Holyoke & Westfield
RR., 17 miles; total operated, 144 miles. This company has a per¬
petual lease of the Holyoke & Westfield Railroad at 50 per cent of the
gross earnings, but a minimum of $17,600 per year is guaranteed^
Operations and earnings for five years past were as follows:
Net
Passenger
Freight (ton)
Gross
Years.
Miles.
Mileage.
Mileage.
Earnings. Earnings.
-(V. 28,
109
109
109
109
109
p.
4,626,908
4,516,618
5,455,832
4,727,857
11,256,872
11,719,954
11,889,310
14,942,798
$567,667
$177,851
544,452
548,200
588,280
206,547
222,207
5,644,750
p. 43.)
15,355,594
694,506
276,287
40, 401; V. 30,
191,532
New Jersey d New York— November, 1880, owned from Jersey City(Erie
Junction), N. J., to Stony Point, N. Y., 30 miles; leased, Nanuet & New
City RR., 5 miles; total operated, 35 miles. Organized Sept. 4, 1874, by
consolidation of the Hackensack & N. Y. RR. and the Hackensack A
N. Y. Extension Railroad; Receiver appointed in 1877. The Hackensack
& New York Railroad was sold in foreclosure August 14,1878, and wa»
leased in perpetuity to this company, and now forms part of the maini
line. Reorganized in 1880, with above debt.
Gross earnings four
months of 1880, $67,590; net, $7,344. (V. 29, p.459, 538; V.
30, p.
248, 385, 566.)
New Jersey Southern—Dec. 31,1879, owned from Rod Bank, N. J., toAtsion, N. J.,54 miles; branches—Eatontown to Long Branch, 5 miles;
Atsion to Atco, 9 miles.; Manchester to Bamegat, 22 miles; other roads:
Sandy Hook to Long Branch, 11 miles; Beach Track, 2 miles; Atsion to>
Bayside, 46 miles; total operated, 150 miles. The property was soldi
in foreclosure March 31,1879 (see Chronicle, V. 28,
p. 352), and the
present company was organized July 25, 1879, with Judge Lathrop,
receiver of tne Central of New Jersey, as president. The capital stock
is $
The property was sold subject to $136,000 on the Tom’s1
.
River Railroad and $200,000 on the Long Branch & Sea Shore RR.
This latter bond is endorsed by the United Companies of New Jersey.
The road is now operated as a part of the Central New Jersey system.
-(V. 28, p. 146,173,352; V. 29, p. 121.)
New London Northern.—Sept. 30, 1880, owned from New London,.
Conn., to Brattleboro, Vt., 121 miles. This road has been operated*
since December 1, 1871, under lease to the Central Vermont Rail¬
road ; the lease was for 20 years at $155,000 per year. Consolidate®
mort. bonds issued to retire all other funded and
floating debt mid to-
Say for branch recently purchased from Vermont A Mass. RR. Operaand earnings for six years past were as follows:
one
Years.
Miles.
100
100
100
100
100
100
Passenger
Mileage.
4,526,574
5,899,360
5,941,778
4,765,084
3,927,511
6,144,189
—(V. 30, p. 169, 384, 409.)
..
Freight (ton)
Mileage.
9,237,318
10,729,982
12,169,737
11,610,469
Net
Div.
Earnings, p. e.
$123,426
8
Grose
Earnings.
$500,170
12,637,957
18,975,296
591,346
,
498,730
507,889
470,455
470,102
150,448
137,135
.
129,609
159,484
179,030
6ka6
6
6
New Orleans Mobile d Texas.—Dec. 31, 1879, owned from Mobile to
New Orleans, with branch to Pontchartrain, 147 miles. The old
company
defaulted in 1874, and the property was sold in foreclosure April 24,
1880, and this company organized. Stock is $4,000*000. The road was*
leased May 8,1880, to Louisville & Nashville, which
operates it. TheL. & N, sold its own $6,000,000 bonds secured on this road, against
which a mortgage of same amount is held in trust for the L. A N. (Seefull statement in Chronicle, V. 31, p. 328.)
RAILROAD
December, 1880.]
Snbscribers will confer
on
Miles
of column headings, &c., see notes
first page of tables.
.
•
•mm
p£2;000;000 J
v tered.
N. F. City Elevated — Stock
1st mortgage, $ or £
H. Y. City dc northern—Consol, mort. for $4,000,000
Nev) York <£ Greenwood Lake.—1st mortgage
2d mort., income, (issued for old firsts)
New York <£ Harlem—Common stock.
Pr6f6rr^d. stock
Consol, mort., coup, or reg., (for
Value.
Outstanding
$1,000
$100
1,000
1,000
1,000
2,391,000
•
*
1873
1873
15
1876
1880
1875
....
52%
40
•
*
100
500 Ac.
100 Ac.
100 &c.
1,000
1801
500 Ac.
100
(extended in i867 to i*897)
convertible (extended in 1879)
Long Dock Co. mortgage
1st consolidated mortgage, gold
4.0
do
funded coupon bonds
ST. Y. L. E. A W., new mort., gold, 2d consol
do
do
do
do fund. coup,
income bonds (non-cumulative).
do
(?)
100
100
77,083,800
8,156,725
2,482,000
2,150,000
4,852,000
2,937,000
709,500
182,600
3,000,000
16.656,000
3,699,236
24,400,000
8,597,400
508,008
1847
1879
1853
1857
459
.
1,000
1,000
1,000
1,000
1858
1861
Sd mortgage
4tU mort., conv. (extended in 1880 at 5 per cent)
5tbi mortgage, convertible
Buffalo Branch Bonds
New
50
50
1872
common
500 &c.
100 Ac.
1863
1870
1878
1878
1878
1,000
1,000
1878
Orleans Pacific.—This is the Texas A Pacific extension
500
500
500
300
Ac.
Ac.
Ac.
Ac.
from
Shreveport to New Orleans, 325 miles. For
ftl.000 bond
at
90, stock for $500 Was given. See V. 31, p. 178, 179, 329, 559.
Nciu York <t Canada— Dec. 31, 1879, owned from
Whitehall, N. Y., to
Rouse’s Point, N. Y., 113 miles; branches:
Ticouderoga, N. Y., to Lake
George, N. Y., 4 miles; Plattsburg, N. Y., to Ausable, N. Y., 20 miles;
West Chazy to Province line, 13 miles; total operated, 150 miles. This
company was organized March 1, 1873, as successor of the Whitehall A
Plattsburg and the Montreal & Plattsburg railroads. The whole line
was completed Sept. 18, 1876.
The road is virtually owned by the Dela¬
ware & Hudson Canal Company, which guarantees the bonds. The stock
is $4,000,000. Earnings and expenses are included in the Rennselaer A
.Saratoga RR. returns. (V. 29, p. 581; V. 31, p. 357, 483.)
New York Central & Hudson.— Sept. 30,1879, owned from N. Y.
City to
.Buffalo, N. Y., 442 miles; branches on N. Y. Cent, division, 298 miles;
total owned, 740 miles; lines
leased—Troy & Greeenhusli, 6; Niagara
Bridge & Canandaigua, 98; Spuyten Duyvil A Port Morris, 6 Junction
.(Buffalo), 8; Syracuse Junction, 8; N. Y. A Harlem, 127; N. Y. & Maliopac, 7; total, 260 miles; grand total, 1,000 miles. The second track
•owned is 465 miles; third track, 258 miles; fourth
track, 225
miles; turnouts, 468 miles—making a total of 2,156 miles of track
owned by tbe company. This company was formed
by a consoli¬
dation of the New York Central and the Hudson River railroads October
The New York Central was a consolidation of several roads,
under a special law of April 2,1853. The Albany &
Schenectady Rail¬
road opened September 12,1831, as the Mohawk A Hudson. It was the
first railroad built in the State of New York. The famous
scrip divi¬
dend of 80 per cent on the capital stock was made in
December, 1868,
•and on the consolidation with the Hudson River road (Nov.
1,1869) a
further dividend of 27 per cent was distributed on the N. Y. Central
stock and 85 per cent on the Hudson River stock. The
mortgage for
$40,000,000 was issued to lay the third and fourth tracks, with a
; sufficient balance retained
by the company to retire all prior bonds. In
November, 1 nrTrk °“^
— /£DOK '“WA r‘rkrkv ~~— ~~1 1 -*■•of bankers
shares mor
gross earnings were $24,289,000, against $20,734,000 in the previous
‘year; and net earnings $10,687,000, against $9,123,000. Prices of
.stock and earnings monthly have been:
Monthly Earnings.
Prices of Stock.
s
1S79.
1880.
1877
1878.
1879
1880
$
$
•Jan. 10138-10018 10838-1047*
135 -129
2024,812 2593.613
Feb. 102%- 91% 106 -10334 120 -115% 133%-130
2210,304 2317,231
Mar. 98 - 89^ 10778-103781-17 -112
137 -12938 2474,392 2854,835
Apr. 9414- 85i4 10918-10534 117%-11334 136 -129% 2214,626 2782,321
May .9610- 88% 110%-10534 120%-U73b 131 -122 2211,010 2540,997
J’ne. 93 - 88
112 -107
121%-117% 12934-122i4 2022,823 2653,477
1,1869.
117%-li2%
July 9514- 893s 110
Aug.103%- 923sH2
Sept 104 38- 9934 115
-108% H912-H734 132%-120% 2194,422 2863,316
-IO71412018-116
13412-12833 2546,029 3022,855
-IIII2I2O -11814 133 xl2S% 2922,376 3000,626
133 -119
Oct..l09%-101% 114 -109
138i8-12934 2898,586 3095,198
Nov.107%-105% 11212-110 r 139 -126
14712-135
2801,S35 3047,541
Dec.l07i2-104i4 114 -11034 13312-127
Aver’ge percentage of expenses to earnings during the 8 years was 58*59.
Abstract of operations for six years:
REVENUE
ACCOUNTS—1875
TO
Year
eucling Passenger
•Sep. 30. Mileage.
Freight (ton)
Mileage.
Gross
1880—SIX YEARS.
Net Income, Divi-
$
1875.-338,934,360 1,404,008,029 29,027,218
.1876.-353,136,145 1,674,447,055 28,046,588
1880
Deficit
over exp.,
Earnings. int.Arents,
1,619,948,685 26,579,085
2,042,755,132 28,910,555
2,295,825,387 2S,396,583
$
7,339,195
7,213,075
6,943,347
a,038,445
7,594,485
33,175,913 10,569,219
*
dends,
p. c. Surplus.
$
202,515
73,547
*197,312
898,917
454,957
95,123,304,329,358,405.)
•
New York City <£ Northern.—Sept. 30, 1880, owned from
High Bridge,
N. Y., to Brewster’s, N. Y., 51 miles.
This company was organized
Mar. 1, 1878, and acquired the N.Y. Westchester A Putnam
(formerly the
N. Y. & Boston Railroad), sold in foreclosure
March, 1876. The com-,
pany in May, 1880, leased the West Side A Yonkers road for 999
pany m M*a}r, iswu,
tne west sme a Yonkers
1
years,
and the consolidated mortgage was issued to take
up all the other bonds,
th
•Stock, $3,000,000. See V. 30, p. 544. If. M. Gallawav. Pi
’resident, No. 3
Broad St., N.Y. (V. 27, p. 172; V'. 30, p, 409, 519, 51-4,651 V.
31, p. 95.)
Bonds—Princi
by
J. A J. N. Y. A Phila., Agency.
M. & N.
London, Baring Bros.
N.Y., Gri Central Depot.
Q.-J.
M.
M.
M.
M.
6
7
7
6 g.
2%
J.
J.
7
6
7
7
4
4
7
7
7
J.
M.
F.
M.
J.
J.
M.
J.
J.
J.
A N.
A N.
A N.
A N.
& D.
& D.
A J
A J.
do
do *
do
do
A
A
A
A
A
A
A
July 1, 1920
May 1.1904
Jan. 15. 1881
do
do
do
do
do
do
do
do
May 1,1883
May 1,1883
May 1,1883
May 1,1883
Dec. 15, 1887
June, 1885
do
Jan.
Jan.
^
do
London.
N.Y., Treasurer’s Office.
Q.-J.
J. N.
A
pal, When Due
Slocks— Last
Dividend.
Y., CornExcli. Bank.
N. N. Y., Company’s Office.
A. New York, Go.’s Office.
S.
do
do
J. N.Y., Gr. Central Depot.
J.
do
do
N.
do
do
J.
do
do
1, 1903
1, 1903
Jan. 1, 1881
Jan.
1. 1906
1910
Jan. 3, 1881
Jan. 3, 1881
May, 1900
Jan.
1,1881
....
....
....
....
....
....
....
7
5
7
5 g.
7
7
7
7
7
6
5
6
g.
g.
g.
g.
g.
M.
M.
M.
A.
J.
J.
J.
M.
M.
J.
J.
J.
A
A
A
A
A
A
A
A
A
A
A
A
N.
S.
S.
N.
Y.y Co.% office.
do
do
do
do
O.
do
do
D.
do
do
J.
do
do
D.
.do
*.•
do
S. New York and London.
S.
do
do
D.
do
do
D.
do
do
D.
do
do
May 1, 1897
Sept. 1, 1919
Mar. 1, 1883
Oct. 1, 1920
June 1, 1888
July 1, 1891
Jan., 1893
Sept. 1, 1920
Sept. 1, 1920
Dec. 1, 1969
Dec. 1, 1969
June 1,
.1977
bew York <£■ Greenwood
Lake.-Dec. 31, 1879. owned from Jersey
City*
N. J„ to Greenwood Lake, 40 miles;
extension, New York Lake Erie
AWoatorfi,
ltttleaj ‘total operated, 41% miles. This was the Mont¬
I**7**":
was sold ajid reorganized as Mont¬
and again sold uC^C**!* 1 ,*
and tU9
present company organized. The New York Lake Erie A Western pur¬
chased a controlling interest in the property and now
operate it. The
holders of the second mortgage bonds have a right to
pay off the first
mortgage bonds of $900,000 at 105, and thus gain control of the prop¬
erty.
(See Vol. 27, p. 172, 228.)
It is reported that the Now York
Lake Erie & Western purpose extending the road and
making it an im¬
portant part of their line. I11 1879 the gross receipts were $118 231;
expenses, $149,456.
(V. 27, p. 16, 68, 95, 172, 192, 228, 252, 303, 357,
383, 436, 462, 539, 628, 652; V. 30, p. 409, 566; V. 31. p. 559.)
N. Y. dc Harlem.—Sept. 30, 1879, owned from N. Y.
City to Chatham,
N. Y., 127 miles. From Chatham to Albany, 24 miles, the Bost. A
Alb.
RR. is used. This company owns 5% miles of street railroad on
the
Fourth Avenue. The property (except the horse
railroad) was leased
April 1, 1873, for 401 years, to the N. Y. Central & Hudson River RR.,
at a yearly rental from the lessee of 8
per cent dividends on the stock and
clair Railroau, opener 12
clair & Greenwood Lake,
the interest on the bonds. The Fourth avenue horse
railroad, together
with valuable real estate, was retained by this
company, and extra
dividends
are paid out of the receipts therefrom
annually in April. All
operations of the main road are included with those of the N. Y. Central
& Hudson. (V. 28, p. 18.)
N. Y. Housatonic dc Northern.—Sept. 30, 1879, owned from
Conn., to Bloomfield, Conn., 5% miles. Foreclosure sale made Danbury,
in April,
1880, for $111,000. to Horace Bridgemau. (V. 30, p. 118, 248,323, 384.,
New York Lack. & West.—This is the projected road built under the
aus¬
pices of Del. Lack. & West, and the Wab. St. Louis & Pac. (V. 31, p. 229.)
New York Lake Erie dc TTesfem.—Sopt. 30, 1880, owned from
Paterson,
N. J., to Dunkirk, N. Y., 430 miles : branches—Piermont, 18
miles; Newburg, 18 miles; Buffalo, 60 miles; Erie International RR., 5 miles;
leased—Mont. & Erie RR., 10 miles ; Goshen A Deckertown,
12 miles;
Newburg A N. Y., 13 miles; Pat. Newb. A N. Y., 11 miles; Hawley A
Honesdale, 24 miles.; Jefferson RR., 37 miles ; Buff. Brad. A Pittsb.. 26
miles; Buff. N. Y. & Erie, 140 miles; Suspension Bridge A Erie Junction,
23 miles; Rochester & Gfenessee Yallcy, 18 miles; Avon Gen.
& Mount
Morris, 17 miles; Paterson A Hudson, 15 miles; Paterson & Ram., 15
miles; Lockport & Buffalo, 13 miles ; Buffalo & Southwestern, 68 miles;
controlled—Newark A Hudson, 6 miles; Weekawkeu New York & Fort
Lee, 5 miles; Northern of N. J., 25 miles; total operated, 1,009 miles.
The New York & Erie Railway went into the hands of a Receiver
in 1859, and in 1861 the Erie Railway was organized as its succes¬
sor.
The Erie Railway defaulted on its bonds in 1875, and was sold
in foreclosure under the second consolidated
mortgage in 1878. Th©
present company was organized and took possession June 1, 1878.
Under the plan of reorganization the above statement represents all th©
stocks and
bonds issued to September 30, 1880.
The total interest
year will be as follows: 1880-81, $4,149,091; 1881-
charge each fiscal
82,
$4,149,091;
1882-83, $4,177,749;
1883-84, $4,235,065.
By the
terms of the plan one-half of the stock, both common and
preferred, is
issued to “ Voting Trustees” in London, who shall vote on them until
the dividend on the preferred stock (6 per cent) has been
consecutive
yearslien of consolidated
The
funded
paid for three
bonds
are secured by
mortgage. The second funded coupon bonds are
5 percents till June, 1883, and after that 6. On the second
mortgage and
second funded coupon no foreclosure can take place till six
coupons are
in default. The most prominent feature of the
reorganization was the
provision for outlay of new capital on the property, and up to September
30, 1880, the cash from assessments of stock, Ac., amounted to
coupon
$3,793,326. Prices of stock and earnings monthly have been as follows:
Prices of Stock.
Monthly Earnings
/
3,427,706
-(V. 29, p. 563, 655 ; Y. 30, p. 17, 92,170, 357, 491, 589, 624; Y. 31
p. 95, 143, 196, 329, 510.)
Neio York City
Elevated.—Sept. 30, 1879, owned from South Ferry,
N. Y., east side, to Harlem River, 10%
miles; west side, to Eightythird St., 6% miles; branch, 1 mile; total, 17*2 miles. The
property was
leased to the Manhattan Railroad, with a guarantee of 10
per cent divi¬
dends on the stock. The last report of operations, for the
year ending
Sept. 30, 1879, was^iven in the Chronicle, V. 29, p. 630. Passengers
•carried in <879, 29,875,912. For the first quarter of
1880, see Man¬
hattan Elevated on page 37. Total real cost of this road to
January,
1880, is estimated tp have been $8,719,038. (V. 28, p, 302, 526, 553,
579; V. 29, p. 407, 511, 630; V. 30, p. 144, 357, 385, 544; V. 31, p. 68,
6
18,725,000
9,733,333
6,500,000
8,500,000
3,427,000
900,000
1,800,000
7,950,000
1,500,000
10,500,000
107,704
249,000
1,000
....
6
1,423,200
1,000
1,000
•
132
74,500
^
169879.-3076,425 81
....
—
6 g.
6 g.
2
6
6
592,000
162.000
840
840
New York Housutonic dc Northern—1st mortgage...
N. Y. Lackawanna <£ Western.—Stock ($10,000,000)
Of. Y, Lake Eric dc West.—Stock,
xli
Rate per When Where Pa\ ^able, and
Cent. | Payable
W110m.
$2,000,000
4,000,000
89,428,300
6,632,900
£100Ac
500 Ac.
500 &c.
•
i'32
$12,OObVo66)
Sinking fund
1st mortgage
2d mortgage,
Amount
1853
1854
do
2d mortgage, sinking fund (Hudson River)
i
< $30,000,000 ? coupon or regis
New
^
1880
1874
or
Par
1854
Bonds, B. & N. F. stockholders
do
Bonds railroad stock (N. Y. Central)
Bonds real estate
Renewal bonds
BONDS.
INTEREST OR DIVIDENDS.
Size,
1853
—
mortgage
Date
of
of
Road. Bonds.
New Orleans Pacific—1st mort. ($20,000 per mile).
200
N. Y> <£ Canada—1st M., sterling, guar. D.& H. Can.
113
New York Central & Hudson River—Stock
1,000
Premium bonds
(N. Y. Central)
_T
AND
great favor by giving immediate notice of any error discovered in tbese Tables*
a
DESCRIPTION.
-For explanation
STOCKS
Jan.
Feb.
Mar.
Apr.
May
J’ne.
^
-Common.
1879.
1880.
273a- 2118 48 - 41%
48 V 44%
27%- 24
25V 231s 47 V 43%
27%- 24% 46V 41%
29V 26i8 43%- 30%
28V 26is 43%- 30
28 V 27% 44 V 38%
July
Aug. 28V
23
Sept 34V 23^8
44V 373b
41V 373s
-Preferred.
1879.
1880.
1879.
1880.
$
51 %- 37% 7334- 67% 1147,173
1296,331
50 - 43%
46%- 42%
'ft78:
45
48
52 %- 4934
53
53
60
-
51%
-
44-
45%
67%- 56%
78 %- 60
72
65%
-
73V 70
72 %-
1207,391 1252,218
68% 1356,780 1644,958
70%- 63% 1372,755 1643,151
65 V 47
1350,574 1592,544
70V 47
1230,419 1661,812
72 %- 64% 1273,532 1580,975
73
-
65
71%- 66
1450,223 1606,873
1492,495 1786,417
1713,697
1515,835
Oct.. 43 V 32% 45 %- 3334
76 - 70
Nov. 49 - 32
49 - 42%
82%- 72
Dec. 44 - 37
The last annual report was published iu the
Chronicle, V. 31, p. 587,
650. The operations and earnings for five years past were as follows:
Yearend’g
Sept. 30.
Passenger
Mileage.
163,074,795
Freight (tou)
Gross Traffic
1,040,431,921
$15,852,461
Mileage.
15,044,978
Net Traffic
Earnings.
$3,621,259
3,809,050
5,009,114
15,942,022
4,767,323
Earnings.
170,888,380
1,114,586,220
1873
140,320,749
1,224,704,433
149,115,718
1.509,223,417
180,460,204
1,721,112,035
The company has receipts from other sources,
14,708,890
18,693,109
7.019.184
and the total not income
on
1874-59^60.
1875-6
of column headings, Ac., soe
first page of tables.
New York d Long Branch—Stock
N. Y. d N. England—Stock ($20,000,000
1st mortgage, new (for $10,000,000)
notes
Date Size, or
Miles
Par
of
of
Road. Bonds Value.
authorized)
111888777645---9650.
9
incomes. $ A £
incomes, $ A &
Leased lines rental gold bonds (Cl. A M.)
do
do
(P. P., P. V. and S. & A.)
Canandaigua— Stock
North Carolin a—Stock, common
Preferred stock
Mortgage bonds
North Pacifie Ooasl— Stock
North Pennsylvania—Stock, guar
1st
State (Maryland) loan
sinking fund, coupon
3d mortgage, sinking fund, coupon
Consolidated mortgage, gold, eoupon
Consolidated mortgage, gold, registered
1st mortgage,
2d mortgage,
*....
Ac.
Ac.
Ac.
1,000
1879
Too
50
50
500
500
1869
1869
1877
1,500,000
1855
1865
500 Ac.
500 Ac.
1,000
1,000
1868
1868
Mileage.
9,468,574
Mileage.
19,652,913
23,269.082
36.158 591
41,762,072
from Boston, Mass.,
Willimantic, Conn.,
11,321,038
18,938,845
36.654,669
43,678,700
Earnings
$963,325
965,601
1,006,287
Earnings.
$225,855
1.971,536
194,916
197,890
486,329
2,324,940
628.W56
153. 306,397, 578, 605.)
N. Y. N. Haven d Hartf.—Sept. 30, 1880, owned from Williamsbridge,
N. Y., to Springfield, Mass., 123 miles; branches to New Britain, MiddleV.
—
30,
p.
248, 357, 544, 545; V. 31, p. 44, 67,
town andSuffield, 18 miles; leased—Harlem A Portchester RR., 12 miles;
Shore Line RR., 50 miles; total operated, 203 miles. This w as a consoli¬
dation July 24, 1872, of the N. Y. A New Haven
railroads. The company uses the N. Y. A Har. RR. from
into N. Y. City and pays a large toll therefor.
company
Har. Riv. A Port. RK. and guar, tlio bonds. The company has no debt, of
its own, having paid all off in 1875. Operations,
years were
as
follow
Years.
and the Hartf. A N. II.
Williamsbridge
The
leases the
Ac., for five
s:
Passenger
Miles.
152
Mileage.
123,003,659
152
152,
152
152
Freight (ton)
123,866,661
1875-6..
1876-7..
1877-8..
1878-9..
111,641,817
105,458,051
103,113,443
Mileage.
34,936.946
37,224,658
39,646,733
45,594,854
63.187,479
—(V. 28, p. 40; V. 29, p. 510; Y.
Gross
Earnings.
$4,540,113
4,303,340
3,938,406
3,817,281
3,912,743
Net
Earnings,
$1,812,715
1,729.279
1.716,029
1,648,788
1,670,862
Div.
p. c.
10
10
10
10
10
30, p 15; V. 31, p. 509.)
N. Y. Ontario d West— Sept.30,1879,
owned from Oswego, N. Y., to Mid-
dletowm, N. Y., 249 miles; branches to Courtland, N.Y., 48 miles; to New
Berlin, 22 miles; to Delhi, 17 miles; toEllenville, 8 miles; total operated,
344 miles. This was the N. Y. & Osw. Mid.
Main linew’as opened July,
1871. It connects with the N. J. Midland to N. Y. City. Default wras
made in 1873. and the property placed in the hands of Receivers Sept. 18,
1873. The Western Division was sold in foreclosure May 31, 1876, and
the main line w as sold in foreclosure November 14, 1879. The present
organized January 22,1880, and under the plan of reor-
company was
Sanization the holders of receiver’s certificates took preferred stock, the
rat mortgage bondholders took common stock for principal and inter¬
other old bonds, notes, judgments and claims
permitted to take new stock at par on payment of 20 per cent
est, and tne holders of
were
1,126,000
2,599,000
205,000
....
....
....
....
e
6 g.
7 g.
5 g.
5 g.
4, 5,6
2 Ac.
2
7
7
3
3
,
3
8
A S. New York and London. March 1,1895
do
do
July 1, 1905*
A J.
do
do
May 1, 1910
AN.
Nov., 1915
do
do
AN.
do
do
Jan., 1902
A J.
.Tan., 1903
London. Co/s Office.
A J.
Nov. 10, 1880*
Q.—F. N. Y., M. Morgan’s Sons.
do
do
J. A J.
July 1. 1899
1909
N. Y., Fisk A Hatch.
J. A J.
Jan. 2, 1881
J. A J.
Sept. 15,1880M. A 8. Company Shops, N. C.
do
do
Sept. 15.1880*
M. A 8
do
do
Nov., 1888
M. A N.
M.
J.
M.
M.
J.
J.
*
*
....
....
1*3
J. A J,
M. A N
J. A J.
6
7
7
cosh within 30 days from January 22,1880. And stock
payment of 30 per cent cash within six months from
Jan. 22, 1880, to the holders of old stock and convertible non-mort. b’ds.
See Chronicle, \. 30, p. 170 and V. 31, p. 123. Operations and earn¬
ings for five years past were as follows:
issued
Years.
on
Miles.
371
344
344
344
Passenger
Mileage.
4,052,620
6,514,676
5,579,976
5,290,076
(V. 30. p. 43, 92, 170, 222,
123, 282, 559. 589 )
Freight (ton)
Milos ge.
12,957,503
13.542,809
12,701,830
12,564,218
Gross
Net
Earnings.
$535,845
Earnings.
568,204
560,020
523,592
$49,146
39,331
53,662
35,713
241, 323, 384, 519, 589, 650; V. 31, p.’ 95,
New York Pennsylvaniad 0— Sept. 30,1880, owned from Salamanca,
N. Y., to Dayton, O., 388 miles; bronchos—Meadville, Pa., to Oil City,
33 miles; Junction (main line) to Silver Creek, O., 2 miles; leased lines—
Cleve. A Mahon. RR., Cleveland, O., to Pa. Line, 80 miles, and branch,
J.3 mile#;
Niiee A New Lie bon RR., Niles to New Lisbon, 36 miles; Lib)
Nov.
24, 1880'
1. 1885
May 1, 1896:
Philadelphia Office.
Q—F.
do
do
do
Jau.
do
do
1903
do
....
M. A N
M. A S.
M.A S.
4
8
8
6
Nov, 1880
Sept. 1, 1899
Sept. 1. 1899
Charleston, Office.
do
do
1907
Jau. 10, 1881.
Irredeemable.
....
2*2
J.
6
6
6
6 g6 g*
J.
A.
J.
A.
A J.
Baltimore A Philadel.
Annapolis.
Q.—J.
July, 1885
A J. Baltimore, 1st Nat. Bk.
A O. Baltimore A Philadel.
A J. Baltimore, 1st Nat. Bk.
A O. Baltimore, 1st Nat. Bk.
April, 1900
July, 1900
July, 190©
V. 30, p. 143.)
Five
stock until the third
cash during three
years. Three of these trustees are to bo chosen annually by a majority
In value of the first mortgage bondholders, one by the second mortgage
bondholders, and the fifth by the leased line bondholders. See statement
to N. Y. Stock Exchange, V. 31, p. 607.
The new bonds of the reorgan¬
ized company, subsequent to the prior lien bonds, are issued upon the
following basis: (1.) The first mortgage bonds to bear 5 per cent inter¬
est till Jan. 1,1881, and 7 per ceut thereafter, whatever portion of this
that may not be earned to be payable in deferred warrants, to be capi¬
talized in bonds of the same class; paymout of interest to become abso¬
lute not later than July 1, 1895, and until June 1, 1895, the right to
foreclose the mortgage is suspended.
(2.) Second mortgage bonds to
receive 5 per cent per annum, after prior mortgages, if earned.
(3.>
Third mortgage bonds receive 5 per cent interest, if earned,
prior
bonds. On the second and third bonds there is no right to sue the com¬
after
pany or to foreclose.
The leased lines’ bonds of 1872 are to receive 4 per cent for the
first three ye>«rs; 5 per cent thereafter for six years,
6 per ceut
thereafter until maturity. The leased lines’ bonds of 1873 are to re¬
ceive the net profits up to 7 per cent (but not less than 2 per cent
the first tw o years) arising from the workingof the lines
are held by trustees.
The prior lien bonds are to provide for
old Ohio Div. mortgage, for.change of gauge,
ex¬
and
during
whose securities
payment of
and for reorganization
The stock is—preference shares, $10,000,000; common shares,
$35,000,000. In first quarter of 1880 gross earnings wore $1,293,678,
penses.
and net
profits, $296,361.
Earnings, Ac., were as follows:
Net
Gross
Extr’rdinary
Earnings.
Earnings.
Payments.
$3,672,365
Miles.
512
512
512
Years.
1876
1877
1878
$717,973
$858,052
832,261
707,962
764,423
675,849
3,805,305
3,745,207
(V. 30, p. 42, 143, 465, 494, 625, 650; V. 31, p. 68, 153, 534, 607.)
Boston.—Sept. 30, 1879, owned from Providence, R. I., to
Stonington, Conn., 50 miles; extension to Groton, Conn., 13 miles; War¬
wick RR., 8*2 miles; total, 71*2 miles; operates also Pawtuxet and
Pontiac branch roads, 8 miles. Owns a majority interest in the Prov. A
Ston. Steamship Line, which has a capital of $1,400,000. For the fiscal
N. r. Prov. d
ending Sept. 1, 1880, annual report is given in V. 31, p. 51.
Operations and carningR for five years past were as follows:
Dir.
INet
Passenger
Freight (ton)
Gross
P.c.
Miles.
Years.
Mileage.
Mileage.
Earnings. Income. 10
63
1875-6*.
10,128,540 $935,268 $465,201
19,570,190
358,997 10*8
1876-7..
63
15,378,852
9,222,206
718,726
398,116 10
1877-8..
63
17,858,442
10,405,601
710,038
8
318.656
1878-9..
63
689.003
19,377,410
11,467.971
8
349,096
1879-80
71i« 22,167,232
11,290,326
779,885
*
Thirteen months, t Including dividends received from Stonington
Steamboat Company, and other receipts.
(V. 31, p. 651.)
N. Y. Woodhavcn d Rockaway.—June 30,1880, owned from Hunter’®
Point, L. I., to RockawaylBeaen, 12 miles; branch to Far Rockaway, 4
miles; total operated, 16 miles. By contract with Long Island RR. is
to control all travel to the Beach by rail. The stock is $1,000,000.
(V.
30, p. 494, 559 ; V, 31, p. 229.)
Niagara Bridge d Canandaigua.—Oct. 1, 1879, owned from Canan¬
daigua to Suspension Bridge, N. Y., 98 miles. The road is leased in
perpetuity to the New York Central A Hudson at $60,000 per annum.
Has no debt, but prior to foreclosure mortgages w'ero $2,170,000.
No. Carolina.—May 31,1830, owned from Goldsboro to Charlotte, N. C.,
year
..
..
..
..
..
223 miles.
The property was
leased Sept. 11,1871, to the Rich.
assessment in
was
Jan.. 1905
Jan. 1, 1880’
1903
J. A J. Boston, Treas’s. Office.
J. A J. N.Y., Grand Cen. Depot.
do
do
A. A O.
bondholders receive 7 per cent interest in
mortgage
Freight (ton)
20,199,327
1,490,000
6 A 7
5
6 A 7
London committee of stock and bond holders.
(See
trustees are to exercise the voting power of the new
625,431
to South Bridge, 18
miles; to Dedham, 2 miles; to Ridge Hill, Mass., 2 miles; Dorrance
Street, 1 mile; leased—Rhode Island A Massachusetts RR., 14 miles;
Rockville RIl., 4 miles; Connecticut Central RR., 36 miles; Norwich A
Worcester RR., 66 inihs; total operated, 385 miles; also about 60 miles
under construction. This was the Boston Hartford <fc Erie RR., which
became insolvent and was succeeded by this companj', formed in 1873.
The Boston Hartford A Erie’s principal debt was the Berdell mortgage
for $20,000,000, w’liicli fixes the stock of this present company ($20,000,00C). In 1878-9 the company acquired the Hartf. Prov. & Fishkill RH.
by the payment of its bonds. The bonds of the nevr mort., issued in 1879,
are to pay for the extension of the road to the Hudson Ri v. See last annual
report V. 29, p. 607. Operations, Ac., for fl vc years past were as follows:
Net
Gross
Miles.
139
139
153
285
316
5,842,000
50
1,316,106
1,790,620
650; V. 31, p, 20, 68,
New York d Nexc England.—Sept. 30, 1880, owned
to Waterbury,Conn., 150 miles; Providence. R. I., to
58 miles; branches—to Woonsocket RR., 34 miles;
Years.
210,000
1,074,900
4,527,150
1.930,500
1,500,000
2,569,500
899,350
86,000
820,000
236,000
2,435,000
50
500 Ac.
500 Ac.
—(V. 30, p. 43, 67, 170, 222, 273. 494. 624.
122,
171, 306, 429, 454, 559, 573, 587,607, 650.)
New York d Long Branch.—Doc,. 31. 1879, owned from Perth Amboy,
N. J., to Long Branch, 23 miles.
It is leased to Central RR, of New
Jersey, forming part of the Long Branch Division of that road. No
further information given. Anthony Reckless, President, N. Y. City.
Passenger
1,000,000
100
500
’67-’68
....
as
..
$6,351,774
5,538,194
5,837,801
5,093,496
3,888,664
6,042,519
Ac.
....
....
Stocks—Last
Dividend.
Whom.
Payable
....
pal .When Due
Payable, and by
Where
When
RR„
3 miles; Ohio
it stood), as compared erty A Vienna mile ; Vienna Junction to Vienna,main line, 9 milesLine to*
Sharon, Pa., 1
Sharon R’y, Sharon, Pa., to
; total
Deficit.
operated, 556 miles. Changed to standard gauge June. 1880. Formerly
Surplus.
$1,353,166 Atlantic & Great Western Railwray. Sold July 1, 1871, and leased to1,229,631 Erie on May 1, 1874, but lease not carried out. Again in hands
1,391,084 of a Receiver Doc. 9, 1874. Sold Jan. 6, 1880, and reorganized by a.
each year (charging full interest on the debt
y<
with the annual charges, were as follows:
Years.
Net Income. Iut., Rent’ls, Ac.
$4,998,609
4,30S563
4,536,717
5,718,927
5,204,770
7,833,140
ffi
1,000
1,000
1869
102
102
102
102
113
317
138
138
138
133
138
for 2d mort.
®
100
56
56
mortgage
®
500
500
500
500
1880
1880
1880
1880
1872
1873
58
2d mortgage
General mortgage bonds
Northeastern (S.C.)—Stock, common
Pref. stock (8 per cent) exchangeable
1st mortgage, new
2d mortgage, new
Northern (Cal.)—1st mortgage
Northern Central—Stock
..
©
62
50
16
98
223
223
223
79
V Y. Prov. d Boston— (Stoningtonl—Stock
First mortgage
H. T. Woodhuten d Rockaway.—1st mortgago
7,146,000
6.968,000
15,500,000
2,000,000
2,000,000
58,120,000
8,000,000
35,000.000
14.500,000
30,000,000
5,355,000
3,568,000
3,000,000
1,000 000
1,000,000
1,000,000
3,000,000
1,000
1873
Rate per
Cent.
$2,000,000
100
12*4
2d mortgage,
3d mortgage,
Outstanding
1,000
1876
344
344
427
460
460
460
'
Amount
$....
23
263
263
141
New York New Haven d Hartford—Stock
Harlem <fc Portchester, 1st mortgage guaranteed.
He to York Ontario d Western—Preferred stock
Common stock
Hew York Penn, d Ohio—Prior lien bonds, gold,$&£
1st mort., gold, incomes till July, 18S5, $ A
.
Niagara Bridge d
discoTered in these Tables.
Bonds—Princi¬
INTEREST OR DIVIDENDS.
DESCRIPTION.
For explanation
[VOL. XXXI.
immediate notice of any error
fkvor by giving
Subscribers will confer a great
AND BONDS.
STOCKS
EAELEOAD
xlii
her bonds issued to the North Carolina
Railroad^
(V. 29, p. 96; V. 31, p.
482, 589.)
North
Pacific Coast—Dec. 31,1879, owned from
Mills, Cal., 74 miles; branch to San Rafael, 2
ADanv.
Saucelito to Moscow
miles; leased, San
Rafael
Quentin, 4 miles ; total operated, 80 miles. Shock, $1,074,900;
floating debt, June 30,1877, $2,017,114. No later reports.
No. Pennsylvania.—Nov. 30,1879. owned from Phila., Pa., to Bethle¬
hem, Pa., 56 miles; branches—Jenkint’n to Dela. River. 20 miles; Lansdale to Doylestowm, 10 miles; Iron Hill to Shimcrsville, 2 miles; total,
operated, 88 miles. The Northeast Penn, and the Stony Creek roads are
operated under contract. The company has been doing a fair business,
but paying very moderate dividends, and in May, 1879, was leased for
990 years to the Philadelphia A Reading Railroad on the terms as stated;
in V. 28, p. 625, viz., that the lessees should pay In quarterly payment*
(February 1, May 1, August 1 and November 1) $673,344 for each of the
to San
the first and second years;
in the third and fourth years
each $718,616*
RAILROAD
December, 1880. J
Subscribers will confer
a
STOCKS
AND
RONDS.
great favor by giving Immediate notice of any error discovered In tliese
Tables.
DESCRIPTION.
For
explanation of column headings, Ac.,
on first page of tables.
see notes
138
138
138
61
.
Northern, N. if.—Stock
Northern of New Jersey—Stock
1st mortgage, extended
’74-’75
1876
1876
-
1,000
1,000
.
82L>
....
•
Amount
Outstanding
1875-96.
*
$1,000
.
Noether n Pacific— Pref. stock(3 p. c., not cum’tive).
Common stock
Mortgage and laud grant bonds, Missouri Div
Mortgage and land gr. bonds, Pend d’Oreille Div.
Consolidated mort., gold (for $40,000,000)
Norwich <& Worcester—Stock
3,000,000
1.000,000
1,525,000
3,068,400
1,000,000
200,000
200,000
43,412,645
49,00o,000
2,500,000
4,500,000
(?)
2,604,400
400,000
3,077,000
100
100
5100 Ac.
100 Ac.
100
100
New
bonds,
,
205
209
•
coupon
...
Ogdensburg W Lake Champlain—Stock
Sinkingfuud bonds
Mortgage bonds (sinking fund)
•
•
Income bonds
Ohio Central—1st mortgage gold
Income bonds (noil-cumulative)
Terminal mortgage bonds
Chio <£• Mississippi—Stock, common
Preferred stock (7 p. c. yearly, cumulative)
Income and funded debt bonds
1st consolidated mort. ($3,478,000 are a. f.)
Consolidated mortgage, sterling
2d consolidated sinking fund mortgage
Debenture sinking fund bonds (for $1,000,000)...
Spring. Div. (Sp.A Ill. SE.) IstM. (for $3,000,000).
OhioJi West Fa.—1st M. (s. f. $15,000 begins in ’80)
\sld Colony—Stock
Bonds (not mortgage) coupon
66
118
Bonds (not mortgage) coupon
....
70
....
....
393
393
148
393
393
393
•
«
•
1879
1879
1880
•
228
85
454
....
1877
1870
1877
1880
1880
1880
1880
1880
....
...
1862
1868
1868
1871
1873
1874
1879
.
.
.
1871
1864
1,000
1.000
1,000
....
1,000
1,000
1,000
100
100
1,000
1,000
£200
1,000
1,000
1,000
1,000
Florence, S. C., 102 miles. This company has earned the interest on its
bonds and preferred stock with a good surplus. In 1878-9
gross earn¬
ings were $340,267 ; net earnings, $135,364; in 1879-80, gross, $404,894; net, $185,659.
ferred stock is
North.
(See last annual report, V. 31,
p.
651.)
exchangeable for second mortgage bonds.
California.—Dec. 31, 1879, owned from W. Oakland
The pre¬
to
Suisun,
Cal., 48 miles; extension. Woodland to Willows, 65 miles; leased, San
Pablo A Tulare RR., 47 miles; total operated, 160 miles. Completed in
1878 and leased in part to the Central Pacific since Jan. 1, 1876, at an
annual rental of $1,500 per mile of road.
In 1878 total revenue from
rental, $346,138; surplus over annual charges, $90,553. The stock is
$2,819,150. R. P. Hammond, President, San Francisco.
Northern Central.—Dec. 31, 1879, owned from Baltimore, Md., to Sunbury, Pa., 138 mi’es; branches—Relay to Green Spring, 8 miles; Balti¬
more to Canton, 6 miles; leased—Shamokin Valley & Pottsvilie
RR. and
branch, 31 miles; Elmira & Williamsport RR., 76 miles; Chemung RR.,
17 miles; Elmira Jefferson & Canandaigua Railroad. 47 miles; total, 323
miles. This was a consolidation of several roads in
January, 1875. The
terms of the several leases will be found under the names of the leased
roads.
The company is under the management of the Pennsylvania Rail¬
road interest, and Mr. Thos. A. Scott is president. The last annual
report
was published hi V. 30, p. 220,
showing the application of income for the
year 1879, the earnings, &e. The consolidated mortgage (gold) is for
$10,000,000 to retire all prior bonds as they mature. Under the general
mortgage of 1876 $1,000,000 more may be issued as Series C. Operations
and earnings for five years past were as follows:
Passenger Freight (ton)
Gross
Div’d
Net
Years.
Miles.
Mileage.
Mileage.
Earnings. Earnings, p. ot.
322 29,829,323 258,540,557 $4,926,248 $1,564,124
322 43,401,086 253,552,485 4,369,926
1,127,600
3
322 27,726,768 277,732,734 4,070,388
1,324,463
322 24,122,837 280,236,742 3,723,457 1,118,960
322 25,888,514 404,192,761 4,107,948
1,246,006
-(V. 28. p. 220; V. 30, p. 220; V. 31, p. 329.)
Northci'n Central (Michigan).—Jonesville, Mich.* to
Lansing, Mich., 61
miles. Owned by the Lake Shore A Michigan Southern
Railway Com¬
pany; Stock, $610,000. S. V. Irvin, President, Albion, Mich.
Northern, X. H.—From Concord, N. H., to West Lebanon, N. H., 70
miles; branch, Franklin, N. H.. to Bristol, N. H., 13 miles; total, 83
miles. This road has done a steady, but slightly
decreasing, business
during the past four years. The last annual report was published in the
Chronicle, V. 30, p. 599. The net earnings for the fiscal year ending
March 31, 1880, were $112,438, and in 1878-9 were
$107,372, against
$117,140 in 1877-8; $123,150 in 1876-7; $120,810 in 1875-6. Prior to
that date, earnings were considerably larger.
((V. 28, p. 552; V. 30, p.
....
....
....
....
599.)
Northern of New Jersey.—From Bergen, N. J., to Sparkill. N. Y., 21
mHes. The company operates an extension to
Nyack, called the Nyack
A Northern Railroad. This road was opened Oct. 1, 1859. By contract
of April, 1869, it is operated by New York Lake Erie & Western at 35
p^r cent of its gross earnings. It is understood the contract is ter¬
by either party on notice. Gross earnings in 1879-80 were
$243,262. (V. 30, p. 566.)
Northern Pacific.—June 30,1880, owned from Duluth, Minn., to Bismark, Dak. Ter., 449 miles; branches—Western RR. (leased), Brainerd,
Minn., to Sauk Rapid, Minn.. 60 miles; Pacific Division, 137 miles;
total, 646 miles; owns one-half St. Paul & Duluth RR., 24 miles, and uses
75 miles of St. Paul Minneapolis A Man.; total operated, 745 miles.
The gap between Mb. Div. and Pend d’Orielle Div. will be 820 miles.
This company was chartered by act of Congress July 2, 1864, to build
from Lake Superior to Puget Sound, 1,800 miles, with branch to Port¬
land, Oregon, 200 miles. The land grant was 20 sections per mile in
States and 40 sections in Territories. The company defaulted
January,
1874, and the road was foreclosed August 12, 1878, and reorganized by
the bondholders’ committee Sept. 29, 1875. To the bondholders new
preferred stock was issued at the rate of $1,400 for each $1,000 bond.
Of the above pref erred stock $4,111,830 was owned
by the company
June 30,1880. This preferred stock is taken in payment for the com¬
pany’s lands east :>f the Missouri River at par, and the Missouri Div.bonds
minable
and Pend d’Oreille Division bonds for lands
on
those sections.
With the
completion of the Mo. Division, 217 miles, and Pend d’Oreille Division,
209 miles, the company will have about 17,500,000 acres of land. In
1879-80 the sales of land east of the Missouri River were 239,305 acres,
for $625,656, an average of $2 61 per acre. Unsold lands June
30,
1880, 4,056,128 acres. A syndicate in November, 1880, subscribed for
$10,000,000 new consolidated mortgage bonds, with privilege of taking
$10,000,000 more yearly for next three years, to finish the road. See V.
31, p. 589. The last annual report (to June 30, 1880,) was published
in V. 31, p. 356. The eatings were as follows on 720 miles:
Gross,
$2,230,181; net, $709,088. (V. 29, p. 67, 121, 293, 330, 379, 564;
V. 30, p. 67, 144, 375, 567,
589, 650; V. 31, p. 68, 95, 230, 356, 358,
397, 454, 535, 560, 579, 589.)
600,000
20,000,000
174,000
6,545,850
112,000
3,864,000
140,000
1,915,000
1,584,000
7,133,800
390,500
32.000
Dividend.
London A Baltimore.
July 1, 1904
Baltimore, 1st Nat. Bk.
do
Jan.
Jan.
do
Boston, Ollice.
1, 1926
1. 1926
Dec.
1903
1. 1880
July, 1880
....
J. A J. J. City. Hudson Co. B’k.
M. A S.
do
do
July, 1888
March, 1889
....
M. A
New York Office.
do
do
S.
Sept. 1, 1919
T. A J. New England Trust Co.
Jan. 6, 1881
M. A S. Boston, N. E. Trust Co. March
1, 1897
J. A J.
Boston, Office.
July 10,1876
M. A 8.
do
Mar., 1S90
I. A J.
do
1897
A. A O.
do
A. A O.
do
1920
J. A J. N.Y. Metropolitan N.Bk Jan. 1,
1920
do
do
Jan. 1, 1920
J. A J.
do
do
July 1, 1920
6
6
0 g7
6
....
=■
July 1, 1920
....
4,030,0,00
100
500 Ac.
1000Ac.
and after that $763,887 per year. This is intended to cover all fixed
■charges of the lessors, and pay 0 per cent on their stock for two years,
7 per cent for two years and 8 per cent afterwards.
Northeastern (S. C.) - Sept. 30, 1880, owned from Charleston, S. C., to
1
6
7
fi
1,000,000
3,000,000
3,000,000
J.
J
J.
A
A
A
Whom.
J. A D.
6
6
6
5
6
2
8
2,750,000
....
J.
J.
J.
6
7
3
371.000
....
100
....
6 g.
5
600,000
....
100
•
118
118
Consolidated mortgage (for $3,500,000)
....
1878
1869
Rate per When
Cent.
Payable
$4,473,000
599781 7811874-65*
mortgage
21
21
21
720
Bonds—Princi¬
pal,When Duo.
Where Payable, and by Stocks—Last
INTEREST OR DIVIDENDS.
Miles Date Size, or
'■ of
of
Par
Road. Bonds. Value.
Northern Central—(Continued)—
Consol, mortgage, gold, s. fund, coup., $ or £
2d general mort., “A,” coupon
do
“ B,” coupon, convertible
Northern Central (Mich.)—1st mortgage
'2d
xliii
7
7
6 g.
7
7
7
7
3
7
5
■
M.
A.
J.
J.
A.
M.
M.
M.
J.
A
A
A
A
A
A
A
A
A
S.
New York, Office.
O.
do
*
do
J.
do
do
J.
London.
O.
New York, Office.
N.
do
do
N.
do
do
N. N. Y., Winslow, L. A Co.
J.
Boston, Office.
Various
do
M. A 8.
do
Mar. 1,
1875
April.l, 1882
Jan.
Jan.
1,
1,
April,
May 1,
Nov. 1,
May 1,
Jan. 1,
1898
1898
1911
1883
1905
1910
18i?l
1881
Sept, 1. 1884
Norwich & Worcester.—Norwich, Conn., to Worcester,
Mass., 59 milesfc
branch: Norwich to Allyn’s Point, 7 miles; total, 66 miles. In 1869
the
road was leased to the Boston Hartford A Erie for 100
years, the lessees
to pay all liabilities and 10 per cent on the capital stock. There
has
been some discussion as to reducing the rental, and the
present lessee
company has the option to terminate the lease, and now operates under
temporary agreement (see V. 28, p. 200). Earnings, Ac., for four years
past have been as follows:
Gross
Net
*>\
Total
Int.,rent’ls
Years.
Earnings.
Earnings.
Revenue.
A Div’ds.
$728,081
$281,376
716,635
$311,965
315,107
269,779
416,243
666,883
666,830—(V. 27, p. 537; V. 28, p. 200.)
$320,580
309,229
283,764
283,809
312,095
741,316
274,457
Ogdensburg <£• Lake Champlain— Rouse’s Point, N. Y., to Ogdensburg,
Y., 118
N.
miles; branches, 4 miles; total. Iz2 miles. The road was
leased to the Vermont Central March, 1870, but the lessee
failed, and
this company resumed possession of its property April, 1877.
The
earnings of the road have decreased of late years, and in January, 1880,
the executive committee issued a circular proposing
certain terms of
adjustment (see V. 30, p. 118, 144), which have been substantially car¬
ried out. Annual report in V. 30, p. 622.
Operations and earnings for
five years past were as follows:
Years.
1875-6...
1876-7...
1877-8...
1878-9...
1879-80
.
...
Miles.
122
122
122
...
...
Passenger
Mileage.
4,585,143
Freight (ton)
Mileage.
20,141,083
21,474,699
24,534,667
22,439,4J5
3,485,220
3,369,125
3,645,831
122
—(V. 28, p. 277, 526; V. 29, p. 16. 631; V. 30, p.
622 ; V. 31, p. 171, 358, 429, 484, 560.)
Gross
Net
Earnings. Earnings.
$568,293 $169,421
522,938
165,429
542,670
144,326
472,172
104,390
510.582
132,358
43,144, 323, 358, 494,
Ohio Central.—The road completed will be200
miles—Corning, O., to
Toledo, O. The stock was $4,400,500—par $100—and in December, 1880,
the company gave notice of an increase to $12,000,000 for
improv e
meats, Ac., and to buy the stock of the Ohio Central Coal Co. Dan. P.
Bells, President. (V. 31, p. 358, 535, 6o7.)
Ohio A Mississippi.—Cincinnati, O., to East St. Louis,
Louisville branch, from North Vernon to Jeffersonville,
Ill., 340 miles;
Ind., opened in
1869, 53 miles; total Ohio A Mississippi line, 393 miles; the Springfield
Division, Beardstown to Shawneetown, Ill., 222 miles; total operated,
615 miles. The Eastern and Western divisions were sold in foreclosure
and the present Ohio A Mississippi Company consolidated November 21.
1867. On November 17, 1876, the company was placed in the hands or
receivers, and afterwards Mr. John King, Jr., of the Baltimare A Ohio
Railroad, was appointed sole receiver. A suit is pending, brought to
annul the purchase of the Springfield Division in 1875 as fraudulent and
void. The various phases of litigation in regard to this company have
been reported from time to time in the Chronicle.
There are yet
$97,000 of old first mortgage 7s, Western Division, outstanding. Suit
is also pending to foreclose Springfield Division.
Coupons of Oct. 1,
1879, and April 1, 1880, on second mortgage bonds were paid April,
1880 (the first since 1876), and two more coupons on 2d mortgage and
on Springfield
Division bonds November, 1880. Seo V. 31,' p. 484.
Operations and earnings for five years past were as follows:
Years.
Miles.
623
619
615
615
GrosB
Earnings.
$3,204,480
3;382,032
2,090,187
3,136,836
Net Earnings.
$863,51o
842,306
535,107
864,548
615
3,502,239
1,058,975
Eight months.
—(V. 28, p. 120, 146, 200, 253, 275, 328, 402, 428, 526, 554, 580, 6-19;
V. 29, p. 67, 226, 241, 278, 330, 408, 434, 483, 631, 680; V. 30, p.
43,
67. 92, 144, 219, 249, 298, 358, 434, 567, 675; V. 31, p. 20, 46,
68, 123,
358, 398, 429, 416, 484, 589, 653.)
153, 282,
Ohio & West Virginia.—Road from Logan to Pomeroy, Ohio. 85 miles
built in 1880 under same management as Columbus &
Hocking Valley
and Columbus A Toledo.
Stock, $2,000,000. Bonds sold in New York,
1880, by Winslow, Lanier A Co. (V. 31, p. 196, 511.)
Old Colony (Mass.) —From. Boston to Provincetown, Mass., 120 miles,
audlinesto Kingston, Plymouth and Somerset Junction, Mass., and to
Newport, R. I.; total. 249 miles; numerous branches, 52 miles in all; total
length of all lines, 301 miles. The Cape Cod Railroad was merged in
this October 1,1872.
In December, 1878, a contract of lease was made
with the Boston Clinton Fitchburg & New Bedford for 999 years, the
Old Colony to operate that road and pay as rental 1023 per cent of the
*
fross earnings of both roads. The Wollaston disaster cost the company-
348,453. The last annual report was in the Chronicle, V. 31, p. 533,
in which it was stated: “During the year 4,000 shares of new stock
have been sold for $436,750. The money derived from this source has
been used to meet the indebtedness incurred
by the purchase of the
lands at Fall River, and to pay the maturing liabilities. Notes amount¬
ing to $210,250 have been paid, and of the bonds falling due October 1,
STOCKS
BAILROAD
xliv
Snbscribers will confer a great favor by
on
first page
IfVoL. XXXI.
giving Immediate notice of any error discovered in these Tables.
Miles
headings, &c., see notes
of tables.
Old Colony—(Continued)—
Bonds (not mortgage) coupon
do
Bonds
do
do
do
Bonds
do
Bonds
do
BONDS.
Bonds—Princrt
INTEREST OR DIVIDENDS.
DESCRIPTION.
For explanation of column
AND
Date
of
of
Road. Bonds
do
do
do
•
•
•
....
200
Oregon d California—1st mortgage
$1,006
1,000
1,000
1,000
....
....
....
48
Oregon Central—1st mortgage.
2d mortgage
m
m
•
•
•
.
.
35
35
.
„
«
^
.
186
-
186
62
1880
1865
1866
■
1,000
1,000
1,000
1880
....
1880
....
....
....
’..
Preferred stock
100
£200
....
F* 50
1,000
1,000
1,000
1,000
50
50
1877
Judgment bonds (held by Pennsylvania RR.)
Reg. bonds, secured by P. Ft.W.& C. special stock
1877
1,000
1,000
1880, $127,500 have been retired and canceled. For the payment of
the bonds, $50,000 has been received from the trustees of the sinking
fund established by the South Shore RR. Co. The outstanding debt has
thus been reduced by the sum of $337,750. Of the debt, $81,645 isin
the form of notes payable, and of this $50,000 has been paid at the
date of this report.”
Rate per
Cent.
7
6
6
6
7 g.
7
7
6 g.
7
: 7
1,320,400
50
58&64 500 <fcc.
1876
1,000
1877
1,000
1877
1,000
47
Panamar—Stock:
47
1867
General mortgage, sterling, (£1,000,000)
15
Passaic d Delaware—Stock
15
Paterson d Hudson—Stock
11
Paterson Newark d New York—1st mortgage
1,669
Pennsylvania—Stock
1870
Gen. M., Ph. to Pitts., coup., J. & J.; reg., A. & O.
State lien (pay ’ble in annual inst’lm’ts of $460,000)
1873
Consol. M.,coup. J. & D.,& reg. Q—M. is.f. 1 p. c.)
1879
do
gold
|1877_
Car Trust bonds (sinking fund 10 per cent)
Pennsylvania Co.—Common stock
1,100,000
2,000,000
10,950,000
4,395,000
300,000
25,000 p. m.
350,000
200,000
a
28*2
.
$1,692,000
500,000
....
.
•
Oregon Pacific—1st mort., land grant, gold
Oswego d Rome—1st mortgage guaranteed
Income mortgage bonds
Oswego d Syracuse—Stock, 9 per cent guar
m
Outstanding
Value.
1875
1876
1877
1870
•
Amount
Par
1874
and registered
Mortgage bonds
Consol, mortgage (guar. D. L. & W.)
Paducah d Elizabethtown—1st mortgage
2d mortgage, income
Painesville <& Youngstown—1st mortgage
2d mortgage, income
Size, or
4^
124,000
338,000
299,994
1,141,000
150,000
839,200
7,000,000
3,989,000
(?)
7
7
630,000
500,000
68,870,200
19,999,760
4,091,675
28*901,540
5,000,000
3,000,000
3,000,000
8,000,000
6,400,000
3,200,000
The road was
8
7
7
7
4
7 g.
412
7
4
6
5
6
5
6 g.
Where Payable,
When
Whom.
Payable
M. & S.
J. & D.
M. & S.
F. & A.
A.
O.
....
A.
M.
F.
F.
M.
M.
F.
& O.
& N.
& A.
& A.
& N.
& S.
pal,When Due.
and by
March 1,1894
.Time 1, 1895
Boston, Office.
do
do
do
Frankfort O. M.
Sept. 1, 1896
Aug. 1. 1897
April 1, 1890
July 15, 1891
Mch. X, 1906
Oct. 1, 1900
New York and London.
N.Y.,Farmers’ L.&T.Co.
May, 1915
do
do
Feb., 1891
N. Y., Del., L. & W. RR.
Aug., 1880
do
do
do
do
& A. N. Y., Ex. Norton & Co.
do
do
J. & J.
April.
Q.-F.
A. & O.
J.
&
J.
Stocks—Last
Dividend.
New York, Office.
London.
•
New York.
1880 & 1885
1907
Feb. 1, 1897
Feb. 1, 1897
Jan.
1, 1910
Nov. 1, 1880
1884, ’89 &’97
July 2, 1880
Nov. 30, 1880
Philadelphia, Office.
1910
Q.-J. Philadelphia & London.
A. & O.
Philadelphia, Office.
Annually.
Q.-M. Philadelphia & London. June 15,1905
M. & N.
J.
& D.
do
3
6
A. & 0.
6
Dec.
Pittsburgh, Co.’s Office.
Q.-J.
....
do
1, 1909
Phil.,Pa., Co., for ins.&c.
....
(?)
Philadelphia.
Demand.
do
July 5, 1907
opened in 1834, and leased in perpetuity September 9,
1852, to the New York & Erie, at a rental of $53,400 per year.
Rogers, President, New York City.
Paterson Neicark d New York.—Leased to New
$35,000 per year.
J. S.
York Lake Erie &
Western at
Pennsylvania Company.—The Pennsylvania Company is a corporation
Operations and earnings for five years past were as follows:
Passenger Freight (ton) Gross
Div. chartered by the Pennsylvania Legislature, April 7, 1870, distinct from
Net
Miles. Mileage.
Mileage.
Earnings. Earnings, p. ct the Pennsylvania Railroad, and operates all the leased lines west of
Years.
Pittsburg. The stock is owned by the Pennsylvania Railroad. The
....269 59,025,834 17,896,779 $2,122,518 $645,990 6
1875-0....
whole number of miles operated or in any way controlled by this com¬
290 50,628,616 21,387,713 2,174,884 720,711 6
1876-7....
pany is 3,547.
In 1879 the net income over rentals, interest, &c., was
301 58,245,895 18,446,307 2,077,616 703,278 6
1877-8....
$1,571,990 and advances to railroads charged off $219,335, leaving
....453 72,805,238 42,450,366 2,798,029 1,090,799....
1878-9....
$1,352,055 profit. An abstract of the company’s report for 1879, with
89,502,519 51,169,628 3,483,233 1,258,831 6
1879-80...
results on each road operated, was published in the Chronicle, April 24r
-(V. 29, p 537; Y. 30, p. 15; V. 31, p. 533.)
1880, with the balance sheet, &c. The registered bonds are secured by
Oregon d California—Line of road—Portland, Or., to Roseburg, 199 deposit of $4,000,000 of Pittsburg Fort Wayne & Chicago special stock.
miles. This company succeeded to the Oregon & Central Railroad, -(V. 28, p. 580; V. 29, p. 118; V. 30, p. 431.)
organized underact of Congress July 25,1866, and took that company’s
Pennsylvania.—The lines owned by this company are from Philadel¬
land grant. The company has been in default since 1873, and com¬
promised with its bondholders without foreclosure. In 1878 net earnings phia to Columbia, Pa., 80 miles; Harrisburg to Pittsburg, Pa., 249 miles;
branches, 101 miles; total owned, 430 miles. Leased as a part of the
were $237,665.
(V. 27, p. 358, 437.)
main line, Harrisburg & Lancaster Railroad, 54 miles; other leased
Oregon Central— Portland to St. Joseph, Oregon, 49 miles. Opened roads and branches, 1,322 miles; total owned and leased, 1,806 miles.
November 3, 1872. The Oregon <fc California Railroad have obtained The operations of the Pennsylvania Railroad cover so large a field that
control of this line and propose to extend it to South Corvallis, 50 miles. a reference to the annual reports is necessary to give any adequate idea
In 1878 there was a net loss on operations. T. R. Cornelius, President, of its working and condition from year to year.
The 5 per cent'
Portland, Oregon.
bonds of 1879 are issued to take up the first mortgage and Navy
An abstract of the latest report
Oregon Pacific—Road in progress; projected line, 600 miles,"of which Yard bonds due January, 1881.
60 miles from Corvallis to Yaquima is to be finished immediately. Land issued, that for 1879, was published in the Chronicle (V. 30, p.
244), showing surplus net income of $1,797,191 after paying all
grant,
acres. See V. 31, p. 358, 383.
Oswego d Rome.—Richland, N. Y., to Oswego, N. Y., 29 miles. Road charges and 4*2 per cent dividend. In 1879, on all lines east of Pittsburg
and Erie, the gross earnings were $2,983,544 over 1878 and net earnings
opened January 1,1866. It is leased to the Rome Watertown & Ogdensburg Railroad at 8 per cent on its stock and 7 per cent on guaranteed $624,978 over 1878. All the lines west of Pittsburg showed a surplus
overall liabilities of $1,526,817, being a gain of $1,082,836 over 1878.
bonds.
The total cost of stocks and bonds of other companies owned by Penn¬
Oswego d Syracuse— Oswego, N. Y., to Syracuse, N. Y., 35 miles. sylvania Railroad was $65,481,682. A scheme to buy up the company’s
Leased in 1868 to the Delaware Lackawanna & Western Railroad Co.
guaranteed securities with $100,000 per month from earnings, and issue
for 9 per cent per year on stock and interest on bonds. In 1877-78 net a 4
per cent scrip to stockholders for the cash so used, was adopted by
earning* were $74,852, and payments by the lessees, $151,176, leaving stockholders on March 26, 1878, but not earned out till November, 1878,
them a deficit of $76,323.
when it was started at $50,000 per month. The entire amount paid
Paducah d* Elizabethtown—Elizabethtown to Paducah, Ky., 186 miles. by the company into the Trust up to the end of 1879 was $700,000. There
Formerly Elizabethtown & Paducah, and again the Louisville Paducah have been purchased for the fund securities of the par value of $773,& Southwestern. The road and a branch to Louisville were foreclosed 100, which yield an interest of 714 per cent per annum upon the invest¬
August 24,1876. The Cecilian branch to Louisville, 45 miles, was sold ment. The annual report for 1879 stated: ‘‘It having come to the
again to the Louisville & Nashville Railroad. The common stock is knowledge of your Board that offers had been made by other parties to$1,426,500 and preferred $1,426,500. An interest dividend of 4 per the City of Philadelphia for the purchase #f the 59,149 shares of your
cent was paid on income bonds in April, 1880, out of earnings of 1879. stock held by the Commissioners of the Sinking Fund, it was deemed
Net earnings in 1879-80, $83,232. (V. 28, p. 402, 623; Y. 30, p. 432.) wise for the protection of your interests, and to keep this stock out of
Painsville d Youngstown.—Fairport, Ohio, to Youngstown, Ohio, 62 the hands of parties whose interests might be unfriendly thereto and tomiles. The company made default in its interest, and a receiver took those of Philadelphia, to purchase the same at par. The transaction,
was closed upon that basis, and the stock, having been paid for, is
held in trust as an asset of your company.” The claims against
879, for $192,000. Under the reorganization bonds issued as above. now
Gross earnings, year ending June 30, 1880, $71,105; net, $7,236. Paul the county of Allegheny, growing out of the riots of 1877, have been
compromised, and the sum of $l,600,00u has been received in full settle¬
Wick, President, Youngstown, Ohio.
ment of the losses incurred by this company and the lines controlled by
Panama.—Aspinwall to Panama, 48 miles. Opened through January it in the destruction of property at Pittsburg. The claims of individual
28,1856. This road had a practical monopoly of the California business shippers and other corporations against the county are being generally
till the opening of the Pacific Railroads in 1869. Another serious blow adjusted upon the same basis as that arrived' at with the company.
to its exclusive business was the establishment of the British steamship
Many of the stocks and bonds owned by the company in consequence of
line from England to the West Coast of South America, around Cape the general revival of business have largely appreciated in market
Horn. The company, however, has paid large dividends. The report value. But, notwithstanding this, the Board have charged against the
for 1879 was in V. 30, p. 381, and the operations and income account profit and loss account a further reduction in the estimated value of
for three years were as follows:
doubtful securities, and, the report says, it is believed that they are now
1879.
1878.
1877.
worth, at a fair appraisement, the full amount at which they are charged
23,729 upon the books. It will be remembered that out of these assets the
24,921
22,110
Passengers carried
152,477
161,743 amount required for construction purposes in 1879 was provided, and a
146,942
Freight (tons) moved
$
$
$
reference to the statements attached to the treasurer’s account will show
Receipts—
1,202,144 that the bonds and stocks owned by the company, including those
1,227,292
1,230,420
Net earnings
254,392 acquired during the year, represent a par value December 31, 1879, of
196,269
149,937
Rentals and interest
158,887
163,294
195,213 $100,143,984, at a cost of $65,481,652, as compared with a value Dec.
Other receipts
31,1878, of $99,751,338 and a cost of $66,670,510.
1,651,749
1,582,448
Total income
1,543,651
GENERAL INCOME ACCOUNT FOR THE YEARS 1879 AND 1878.
$
$
$
Disbursements—
....
.
?os8ession February 14, 1877. Road was sold in foreclosure June 2,
209,468
12,500
Interest on debt
Drawbacks on produce...
Dividends
840,000
Subsidy to U. S. Colombia
250,000
239,889
12,932
840,000
250,000
Balance, surplus
239,627
231,683
-(V. 28, p. 376, 402, 580, 381; V. 31, p. 511.)
Passaic d Delaware— Summit, N. J., to Bemardsville, N.
270,853
9,939
910,000
250,000
Net income Pennsylvania RR. and branches, as
Net loss New Jersey Division, as above
210,957
Balance after deducting loss in operating
Deduct advances made to companies east
J., 15 miles.
The New Jersey West Line Railroad was sold in foreclosure and this
company organized October, 1878, by parties identified with the Morris
& Essex lessees (Delaware Lackawanna & Western), by whom it is
operated. Nominal stock, $1,000,000. Samuel Sloan, President, New
York City.
,
/
Paterson d Hudson.—Jersey City, N. J.,'to Paterson, N. J., 15 miles.
1879.
Sumtnary.
above
$7,482,480
939,889
New Jersey Div..
of Pitts¬
$6,542,591
$802,780
burg, Pa
Payments to trust fund
600,000
Payments to consolidated mortgage sinking fund
243,460—
.
Showing balance to credit of income account after deduct¬
ing therefrom all payments made during' 1879 for which
the company was responsible, and that should be charged
against income account
1,646,240
$4,896,350
.RAILROAD
December, 1880. J
Subscribers will confer
a
<fcc.,
Amount
5781
7
105
105
46
47
:
Peoria Decatur & Evansville—Stock
1 st mort., gold (Pekin to Mattoon)
Income bonds,
do
not accumulative
1866
1866
....
75
75
83
83
38
38
11
Peterborough (N. H.)—Stock
Bonds (not mort.)* redeemable after 1882
Petersburg—Stock
1st mort. bonds (payable $25,000 yearly)
2d mortgage
Philadelphia & Balt. Central—1st mort. (Pa)
2d mortgage (Pa.)
1st mortgage (Md.)
Philadelphia <£ Erie—Stock, common
....
1,000
1,000
1,000
1,000
500 &c.
1,000
100
1,000
100
500 <fcc.
100
....
1877
....
82
82
82
36
36
....
6987781
Consol. M., gold (for $20,000,000), guar by Pa. R.
Philadelphia Germantown <& Norristown—Stock.
Philadelphia Newtown <£> New York—Stock
Bonds, guar, by Phila. & Read
Philadelphia & Reading—Stock, common
...
....
1859
1869
1866
287
2d mortgage
....
....
10
Preferred stock
1st mort., Sunbury& E. (extended 20 years in ’77).
1st mortgage ($3,000,000 are &)
100 &c.
100 &c.
100 &c.
50
50
....
....
40
1857
1861
1868
1869
287
287
287
29
1,000
1,000
50
50
50
50
....
....
779
Mortgage loans inconvertible
779
mortgage, convertible
1880
1843-9
1857
...
account for 1879
Add amount to credit of profit and loss, Dec. 31,1878
$1,797,191
4,057,815
$5,855,007
Add amount realized from old accounts.
122,840
$5,977,847
Less amount of Pennsylvania Railroad’s consoli¬
mortgage bonds, redeemed during 1878...$100,000
Less amount paid in 1878 to the fund for the pur¬
chase of securities guaranteed by Pennsylvania
Railroad Co., under trust created Oct. 9,1878... 100,000—
200,000
Balance
From which balance there has been deducted reduction in
value of securities, etc
$5,777,847
Balance to credit of profit and loss Dec. 31,1879
$4,181,073
.
1,596,773
LINES WEST OF PITTSBURG.
The following statement gives the result of the lines owned or con¬
trolled by the company west of Pittsburg and operated by the Pennsyl¬
vania Company:
1879.
1878.
The total earnings of the Pennsylvania Co. on
lines operated by it, and through organiza¬
tions worked under its control,‘were
$25,742,296 $23,790,228
Expenses for the same period were
15,305,533
15,184,805
Leaving net earnings
$10,436,762
$8,605,423
From this deduct:
all kinds chargeable thereto, including the
net earnings of the Columbus Chicago &
Indiana Central Railway, paid over to the
receiver under order of the court, and other
liabilities of the Pennsylvania Co., includ¬
ing $402,616 interest on the bonds held by
the Pennsylvania Railroad Co
8,612,674
$1,824,088
..
7,621,234
$984,188
SUMMARY OF LINES DIRECTLY OPERATED EAST AND WEST OF PITTSBURG.
*
1879.
Gross earnings, all lines, from traffic
$60,362,575
Gfoss expenses, excluding rentals, interest,
dividends, &c
1878
$55,426,962
35,639,794
33,611,034
$24,72^,780
Showing net earnings
$21,815,928
Freight Traffic.
Number of
Number of
tons.
tons one mile.
-1878Number of
Number of
tons.
tons one mile.
East of Pittsburg
and Erie
24,970,672 3,061,478,249
West of Pittsburg 20,166,334 2,272,716,185
19,121,977 2,431,807,656
16,871,837 1,814,100,152
Totals..
45,137,006 5,334,194,434 35,993,814 4,245,907,808
Passenger Traffic.
-1879
s
Number of
Number of
passengers
one mile.
passengers
East of Pittsburg
and Erie
West of Pittsburg
13,602,401
8,261,565
Totals
21,863,966
The monthly range in prices
gross earnings on all lines east
•
,
1878.
,
-1878Number of
Number of
passengers
one mile.
passengers.
314,260,989
269,515,697
12,792,305
8,041,674
292,725,524
247,275,166
583,776,686
20,833,979
540,000,690
of the Pennsylvania RR. stock, and the
of Pittsburg & Erie have been:
.
Monthly Earnings.
Prices of Stock.
1879.
1880.
1878.
1879.
$
$
Jan.. 3338-29% 3518-32% 5212-50% 2,396,296 2,543,425
Feb.. 30%-2712 35V34% 53 -51% 2,162,909 2,533,039
Mar.. 2934-27
3514-34
5234-513* 2,499,286 2,603,068
April 30%-28% 37-V34% 54%-52% 2,509,805 2,630,022
38 -36% 55 -48
2,503,442 2,708,695
May. 30 -27
June.
39%-36% 54 -1914 2,380,200 2,390,810
40%-39% 57 %— 53
July. 33*2-31
2,536,733 2,782,906
58%-57-> 2,972,601 2,982,718
Aug. 32%-31% 415y-40
Sept. 35i4-32% 43V41% 60i.i-57;4 2.858,646 3,336,528
Oct.. 35%-32% 48%-42% 6212-57
5,215,419 3,518,144
: V 96,101
Nov.. 3438-3212 5114-47%
3,131,997
Dec.. 3318-3113 5138-4912
605,296 3,453,925
Operations and earnings for five years must, on main line and
were as
follows:
Dividend.
Phila., B’k N. America. June 1
do
do
N.Y.,Chic.,R. I. & Pac.
do
1896
June, 19,06
do
Aug., 1880
Aug. 1, 1896
J. & J. N. Y., Met. Nat. Bank.
do
do
M. & S.
New York.
do
J. & J. N. Y., Imp. & Trad. B’k.
A. & O.
do
do
A. & O.
Phila., 227 S. 4th st.
J. & D.
do
do
J. & J.
J. & J.
J. & J.
^
....
2%
3%
4 & 6
6
6
Miles.
904
963
Jan., 1872
do
1902
Philadelphia, Office.
do
do
Jan., 1879
Jan., 1906
Oct., 1891
do
do
....
....
*:6*
May, 1878
Oct. 1, 189T
N.Y.,R.A.Lancaster&Co Jan,, 1879-’98
do
7
5 & 6 g.
g. 3
June 1, 1913
Nashua, Treasurer.
A. & 0. Boston, N. E. Trust Co.
8
7
7
6
6 & 6 g.
Sept. 1, 1920
Sept. 1, 1926
July 1, 1894
Oct. 1, 1906
Apr. 1, 1887
May.
J. & J.
J. &. J.
7
Jan. 1, 192J>
Jan. 1, 1926
A.
A.
J.
J.
&
&
&
&
Philadelphia, Pa. RR.
do
O.
do
O. Philadelphia & London.
J. Philadelphia, Pa. RR.
J. Philadelphia & London.
Oct. 1, 1897
Mar. 31,1881
July 1, 1888
July, 1920
Q.-M. Phila., Treasurer of Co. Dec. 3, 1886
A. *& "0.
O.-J.
Q.-J.
J. & J.
J. & J.
Passenger
Mileage.
Philadelphia, Office.
Philadelphia, Office.
do
do
do
do
Oct.
Jan.
do
do
July 25,1876
do
July, 1880
July, 1886
do
Freight (ton)
1, 189T
25,1876
Gross
Net
Mileage.
Earnings. Earnings1,479,414,466 $20,493,638 $8,699,585
1,629,742,021 20,788,076 8,335,387
160,421,998
288,312,089
1,055
143,153,521 1,494,798,198
18,983,456 8,232,317
1,055
142,036,106 1,732,003,131
20,317,140 9,396,037
1,092
155,784,178 2,136.708,000 21,743,628 9,992,007
—(V. 29, p. 96,146,162, 197, 226, 253, 330, 435, 564, 602. 680; V. 30,
p. 67,117, 222, 244, 249, 274, 298, 323, 434, 494, 556, 675; V. 31, p.
20, 96,123, 228, 306, 329,445, 454, 484, 589.)
Pennsylvania & New York (Canal and Railway).—Wilkesbarre, Pa., to
New York State Line, 104 miles. Branches to mines, 23 miles. Operated
in connection with the Lehigh Valley Railroad.
Common stock, $1,061,700, and preferred stock, $4,000,000. Net earnings in 1878-9, $599,791Robert H. Sayre, President, Bethlehem Pa.
(V. 30, p. 220.)
Peoria & Bureau Valley.—Bureau Junction to Peoria, Ill., 47 miles.
The road was leased in perpetuity April 14, 1854, to the Chicago & Rock
Island Railroad at a rental of $125,000 per annum. Officers same asRock Island.
Peoma Decatur <£ Evansville—Peoria to Evansville, 250 miles, of
which 60 miles remained to be finished October, 1880. This road is a
consolidation of the Pekin Lincoln & Decatur RR. (formerly leased to
the Wabash) and the Decatur Mattoon & Southern and the Grayville
& Mattoon. The bonds were placed on N.Y. Stock Exchange in September,
1880. See statement, V. 31, p. 329. (V. 30, p. 92, 222, 375, 434, 493;
V. 31, p. 329.)
Peoria Pekin & Jacksonville.—Peoria, Ill., to Jacksonville, Ill., 83 miles.
The stock is $1,000,000 common and $239,700 preferred. The road was.
sold in foreclosure November 14,1879, for $950,000 to Solon Humphreys
of New York, reported to be for the Wabash St. Louis & Pacific. Gross
earnings in 1877-78 were $227,501; net, $29,194.
(V. 28, p. 554; V. 29*
68, 226, 302, 539; V. 31, p. 123, 535.)
Perkiomen.—Perkiomen Junction, Pa., to Emans Junction, 39 miles
The road was leased for nineteen years from August 1,1868, to Phila¬
delphia & Reading Railroad, and bonds guaranteed by the lessees; but
the property was surrendered and all control given up in May, 1879.
One-half the interest on the consolidated mortgage has been paid for
three years in Philadelphia & Reading scrip, according to the Philadel¬
phia & Reading compromise. (V. 30, p. 64.)
Peterborough.—Wilton to Greenfield, N. H., 11 miles. Completed Jan.
1,1874. and leased by Nashua & Lowell Railroad for 20 years from
1873 at 6 per cent on cost of the road. In 1879 lessees withheld rental
and dividend was not paid. James Scott, President, Peterborough, N. H
Petersburg.—Petersburg, Va., to Weldon, N. C., 64 miles. In May, 1877*
a Receiver was appointed and foreclosure sale has been decreed.
In
1878-9 gross earnings were $202,986 net earnings $54,766. (V. 30, p.
p.
Rentals, interest, dividends and liabilities of
Net profit on all lines west of Pittsburg
Years.
D.
D.
A.
A.
8
$3,099,159
paid dividends of 4*2 per cent..,
Leaving amount to be transferred to credit of profit and loss
dated
6 g.
6
6
6
7
7
6
6 g.
3
6
3
79,000
1,000
&
&
&
&
Whom.
....
400,000
1,000
1,000
1,000
J.
J.
F.
F.
Stocks—Last
Payable, and by
■
800.000
300,000
6,053,700
2,400,000
976,000
5,000,000
3,000,000
8,680,000
2.231,900
1,200,000
700,000
32,726,375
1,551,800
1,800,000
1,510,500
....
Preferred stock
Receivers’ certificates
were
....
7
7
4
8
1,500,000
1,200,000
300,000
5,000,000
1,287,000
858,000
750,000
750,000
1,000,000
1,000,000
799,600
1,125,000
385,000
100,500
1,324,200
500,000
300,000
....
1880
1880
1880
1880
1864
1870
1867
1873
....
(Evansville Div.), $1,470,000
Out of which
xlv
Rate per When Where
Cent.
Payable
$1,500,000
100
....
....
Outstanding
$1,000
1,000
1853
181
Income bonds (Evansv. Div.), not cumulative
Peoria Pekin <£ Jacksonville— 1st mortgage
2d mortgage
Perkiomen—1st mortgage
Consol, mort., gold, guar. P. & R., (sink, fund) —
Loan
BONDS’
INTEREST OR DIVIDENDS.
Miles Date Size, or
of
of
Par
see notes
Road. Bonds Value.
Pennsylvania & New Tork—1st mort., guar
1st mortgage, guaranteed
Peoria <6 Bureau Valley—Stock—
1st mortgage bonds
lstmort.
AND
great lkvor by giving immediate notice of any error discovered in tliese Tables*
DESCRIPTION.
For explanation of column headings,
on first page of tables.
STOCKS
1880.
$
3,083,552
2,944,576
3,278,186
3,488,366
3,417,916
3,221,475
3,449,644
3,723,355
3,647,543
3,882,714
branches,
249; V, 31,
p.
306.)
Philadelphia <6 Baltimore Central.—Westchester Junction to Octoraro*
Md., 46 miles; leased Chester Creek Railroad, 7 miles, and Columbia &z
P.
Deposit Railroad, 4 miles; total operated, 57 miles. After Juno
23,1870, the road m Pennsylvania went into possession of the trusteesfor the bondholders. No foreclosure has taken place. The common stock
is $220,606 and preferred $242,950. Net earnings in 1877-8, $86,849
in 1876-7, $96,195; in 1875-6, $124,701.
Philadelphia & Erie.—Sunbury to Erie, 287 miles.
Formerly Sun-
bury & Ene Railroad. It was leased to Pennsylvania Railroad for 999
years from January 1, 1862, the lessees to pay 30 per cent of gross,
receipts as rental, but modified January 1, 1870, so that actual net
receipts are paid as rental. The consolidated mortgage is guaranteed by
the Pennsylvania Railroad. The bonds due March ’81 will be paid and
the consol, guaranteed bonds at 5 per cent issued to same amount. The
unpaid coupons of $1,508,459 are held by the lessee for advance^.
Last annual report was in V. 30, p. 190. Operations and earnings fon
five years past were as follows:
Passenger
Freight (ton)
Gross
Net
Miles.
Years.
Mileage.
Mileage.
Earnings. Earnings.
287
15,117,810
311,919,109 $3,365,897 $954,616287
22,425,613
340,390,703
3,352,979 1,164,533
287
12,466,005
335,727,141
3,172,993 1,123,366
287
237
11,444,005
381,300,202
2,921,060
876,111
11,562,653
505,918,017
3,091,807
961,549
—(V. 28, p. 252; V. 30, p. 190, V. 31. p. 653.)
Philadelphia Germantown <& Norristown.—Philadelphia, Pa., to Norris¬
town, Pa., 17 miles; Germantown Branch, 3 miles; Plymouth Railroad*.
9 miles; total, 29 miles. The property was leased Nov. 10, 1870, to
Philadelphia & Reading Railroad for 999 years at a rental of $269,623
and $8,000 yearly for organization expenses. Dividends of 12 per cent
per annum are regularly paid.
Philadelphia Newtown <6 New York.—From Newtown Junction to
Newtown, Pa., 22 miles. Capital stock, $4,200,000. On November 10*
1879, the Philadelphia & Reading Railroad purchased 12,012 shares*
giving control of the property, and guaranteed the bonds
(SCO
Chronicle, V. 29, p. 512.;
Philadelphia <6 Reading.—Main line, Philadelphia to Mount Carbon*
Pa., 98 miles; branch lines owned, 233 miles; leased lines, 495
miles; other lines controlled* 66 miles; total operated, 892 lines. In.
May, 1879, this company leased for 990 years the North Pennsylvania
\ Vol. XXXI.
by giving Immediate notice of any error
Subscribers will confer a great favor
discovered in these Tables.
Bonds—Princi¬
INTEREST OR DIVIDENDS.
DESCRIPTION.
For
BONDS.
AND
STOCKS
KAILROAD
xlvi
Date
Size, or
of
Par
Road. Bonds Yalue.
Miles
of
explanation of column headings, Ac., see notes
on first page of tables.
Amount
Outstanding
Rate per
Stocks—Last
Dividend.
Payable, and by
Where
When
Cent.
pal, When Due.
Payable
Whom.
■
•
Philadelphia d
Reading—(Continued i—
11874-659.
78
89
Loan mortgage,
779
779
779
sterling
do
do
do
do
do
do
(Extended in 1877.)
Loan debenture
Loan mortgage
Consolidated mort., $ loan, coupon or reg
do
do
gold, $ or £, coup
do
do
$. gold, coup, or reg
Debenture loan (convertible 1876-92), coup
779
779
779
779
745
750
Improvem’t mort., $ or £, sink’g fund, coup
Gen. mort., $ and £ (sink, fund I p. c.
Income mortgage (for $10,000,000)
Income mortgage of 1879
Debenture and guar, bonds,
Gen. mort. and Perkiomen
yearly)
•
1874-956
•
1st mortgage,
convertible
•
•
•
..
m
mmm
26
112
95
Philadelvhia d Trenton—Stock
Philadelphia Wilmington d
••
::::
6 per cent cur’cy scrip
6 per cent ster’g scrip
Bonds for Berks Co. Railroad
Coal A Iron Co., guar. mort. (for $30,000,000).
do
debentures, guaranteed
•
Baltimore—Stock
Plain bonds, loan
do
do
do
do
Piltsb. d Connellscille.—lBt mortgage
1st
do
Turtle Creek division
149
Consol, mort., guar. B. A O. (s. f. £7,200 pr. yr.)..
Puts. C.d St. L.—let m., cons, (for $10,000,000)
2d mortgage
1st mortgage, Steubenville A Ind., reorganized...
Col. A Newark Division bonds
-10
149
200
200
117
33
£100
£500
1836
1843
1867
1868
186?
1871
1871
1871
1873
1873
100 Ac.
1,000
1,000
1,000
1.000
1,000
1,000
1,000
1,000
1879
1877
1877
1878
1872-4
1872
•
•
•
967,200
134,400
1,135,300
2,700,000
10,649,000
6,999,000
968,000
10,499,900
9,364,000
19,686,000
2,331,000
10,000,oop
$1,000
1874
1876
1,832,760
586,000
13,036,500
1,731,000
1,000
•
1858
1867
1872-4
•
•
•
100
50
500
1,000
1,000
1,000
100 Ac.
£200
1,000
1,000
1,000
1,000
July, 1880
July, 1880
July 1, 1882
July 1, 1893
Oct. 1, 1893
June, 1911
June, 1911
Juno, 1911
Jan. 1, 1893
Oct.
1, 1897
July 1, 1908
Dec. 1, 1896
London.
J. A J.
do
J. A J
do
J. A J.
J. A J.
Philadelphia, Offloe.
do
do
A. A O.
do
do
J. A D.
J. A D. Philadelphia A London.
J. A D.
Philadelphia, Office.
J. A J.
Philadelphia, Office.
A. A O. Philadelphia or London
J. A J. London A Philadelphia.
J. A D.
Philadelphia, Office.
do
do
J. A D.
do
do
J. A J.
J. A J. London A Philadelphia.
M. A N.
Philadelphia, Office.
Various Loudon A Philadelphia.
M. A S.
Philadelphia, Office.
g.
g.
g.
g.
tr.
3, 4 ,5, 6
July, 1882
July, 1882
May 1, 1898
7
7
2%
Philadelphia, Office.
Q.-J.
J. A J. j Philadelphia A Boston.
4
do
do
J. A J.
6
do
do
A. A 0.
•
6
A. A O. Phil’delphia, Co.’s Office
6
do
do
A. A O.
6
7
iJ. A J. Balt., Balt. A Ohio RR.
F. A A. Pittsb., First Nat. Bank
6
6 g. ,’J. A J. Loudon. J.S.MorganACo
F. A A. Phila., Pa. RK. Office.
7
do
do
A. A O.
7
6
M’nthly N. Y. Agent, 57 B’way.
J. A J. Phila., Pa. RR. Office.
7
1,259,100
11,572,750
253,500
1,000,000
700,000
800,000
4,000,000
326,600
6,500,000
6,541,000
2,500,000
•
1.000
1875
1868
1859
1876
1868
1873
1864
1864-
•
3,472,973
10 Ac. *
90 Ac.
•
5
6
7
6
7
7
6
6
7
6
6
7
6
0
6
$182,400
3,000,000
456,000
1
1892 to ’94
1892
Jan. 10. 1881
Jan. 3, 1881
July, 1884
April. 1887
Oct.
1.
1892
April 1, 1900
July, 1899
Aug. 1. 1882
Jan. 1. 1926
Aug. 1, 1900
April 1, 1913
Ma}r. 1884
Jan., 1890
i
Bound Brook Railroad, and at same time cave
the Perkioinen Railroad. (See terms of lease under names of tuose
companies.) The Berks County RR. was purchased at foreclosure and
paid for in bonds. The main business of this company has been the trans¬
—(V. 28, p. 66, 113, 328,428, 527, 580, 625; Y. 29, p. 18, 121, 226, 330,
408, 435, 460, 512, 553; Y. 30, p. 64, 118, 222, 314, 434, 494, 555, 567,
650; V. 31, p. 21, 46, 69, 123, 171, 205, 230, 248, 307, 329, 359, 383,
406, 429, 445, 474, 511, 536, 560, 589, 600, 607.)
Philadelphia d Trent on.—Philadelphia, Pa., to Morrisville, Pa., 27
miles. On Dec. 1, 1871, it was leased with the United Companies ol
New Jersey to the Pennsylvania Railroad, and is operated as a pail 0/
its NewT York division. Regular dividends of 10 per cent are paid.
increased heavily its capital account in the purchase of new properties,
and after paying 10 per cent dividends for many years ceased to pay
after January, 1876. The company was unable to meet all its obliga¬
tions, and in March, 1877, holders of the general mortgage bonds and
more,
Kail road and Delaware A
up
portation of anthracite coal. The Philadelphia & Reading Coal A Iron
Company is a corporation formed (Dec. 12, 1871) for the purpose of ownand working the extensive coal properties of this company. The
Periokmen guaranteed bonds agreed to take one-half their coupons for
three years in 6 percent scrip; and holders of convertible and
bonis to take (5 per cent scrip in payment of their coupons for five years.
The scrip is convertible into income mortgage bonds.
debenture
May, 1*80, the company suspended payment, and on May 24
Franklin B. Gowen. Edwin M. Lewis and Stephen A. Caldwell were
In
appointed Receivers of the railroad and coal companies. (See V. JO. p.
567.)
Receivers’ certificates for $2,000,000 were issued, of which
$600,000 were paid by Oct. 25, 1880. At Philadelphia, July 1, a bill
was filed for the foreclosure of the general mortgage of 1874.
Interest
was paid only on the consolidated mortgage of 1871 and prior mort¬
gages. In September certain interest was paid on the coal land mort¬
gages at reduced rates, and Nov. 9 one-half of the July coupon on the
Philadelphia Wilmington & Baltimore.—Philadelphia, Pa., to Balti¬
Md., 96 miles; Port Deposit Branch, 4 miles; Southern Division to
Rodney A Newscastle, Del., 12 miles; total,main line and branches, 112
miles; Delaware Railroad (leased), 95 miles; total operated, 207 miles.
This road, on the main line to Philadelphia and Washington, has paid 8
per cent dividend for many years, with a considerable surplus. In May,
1880, purchased two-thirds of stock of the West Chester Philadel. RR.
(See V. 30, p. 545.) For the terms of Delaware lease, see Delaware RR.
Operations and earnings for five years past were as follows:
Years.
Gross
Freight (ton)
Net
Earnings. Earnings.
Mileage.
05,634,440 34,260,088 $2,849,554 $1,181,339
104,810,706 38,094,439
1,576,044
3,305,438
59,160,438 42,089,750
2,916,250 1,161,216
Passenger
Miles.
100
100
Ill
112
112
Mileage.
2,660,446
2,849,919
60,504,494 46,080,501
62,102,597 58,140,546
V. 30. p. 545.)
Div’d
p.
et.
8
1,095,103
1,282,178
-(V. 28, p. 67 ;
Pittsburg d- Connellsville.— Pittsburg, Pa., to Cumberland, Md., 150
miles; branch, 2 miles; leased lines, 22 miles; total, 174 miles. On
December 13 1875, the property was leased to the Baltimore & Ohio
Railroad, and possession given January 1, 1876. The rental is interest
on the debt and. £7-200 sterling its an annual sinking fund.
The city of
the present stock, also to Baltimore transfened its interest to the Baltimore A Ohio Railroad for
referred to at length in V. $1,000,000, and the consolidated sterling mortgage was made and guar¬
anteed by the Baltimore A Ohio. It is operated as the Pittsburg Division
Chronicle, V. 30, p. 64, of the Baltimore A Ohio Railroad. In February, 1880, a judgment in
gave the condition Nov. 30, 1879, together with the estimate of the favoro Baltimore A Ohio Company was confessed for $4,354,748.
Stock
managers as to the company’s prospects substantially as follows:
is $1,955,741.
I11 1879-80 the net earnings were $1,011,827. (V. 29,
ESTIMATE FOR 1880.
draw interest only afte r 6 per cent is paid on
issue a new mortgage for $150,000,000, are
31, p. 511, 536, 607.
The last annual report, published in the
T.
535; V. 30, p. 219.)
the actual results
Pittsburg Cincinnati d St. Louis.—From Pittsburg, Pa., to Columbus,
the table for 1879
the total receipts, expenses and rentals of the North Pennsylvania Rail¬ O., 193 miles; branch to Cadiz, O., 8 miles; total, 201 miles. This was a
of several companies, May 1, 1868, including the Steuben¬
road and the Delaware A Boutid Brook Railroad for an entire year are consolidation
ville A Indiana and the Pan Handle roads. This company is controlled
included, in order to facilitate comparison with 1880:
1 ftftTi
1879.
by the Pennsylvania Company, through the ownership of a majority of
The following table shows a comparison between
of 1879 and the managers’estimates for 1880.
In
Coal
$7,291,989
transportation
Ibisscnger
ship, coal at Ft.
5,000,000
IF,500.000
150,000
400,000
2,233,656
transjs>Ttation
118,263
Miscellaneous leeeipts
For
$12,150,000
4,156,055
Merchandise transportation
Richmond and Eliza’port
proper,
$20,200,000
Total
All expenses,
9,810,351
9,810,351
interest on debt
Total
.
$3,989,612
11,500,000
$8,700,000
Loss.
699,450
Profit.
2,500,000
$3,290 162
Coal A Iron
$11,200,000
Company
funds
Interest account, including full sinking
for 1879 on all sinking-fund debts
7,000,000
$$4,200,000
yThe prices of Philadelphia A Reading stock in Philadelphia, and the
earnings of the rajli oad, monthly, have been as follows:
Net
profits
Monthly Earnings.
1878.
Jan.. 17j4-1512
Feb.. 16 -13*2
Mar 14 VI2%
.
April 15
1878.
Prices of 8took.
-13%
May. 15 VI3
June. 16VL5
July. 19 VI 63g
Aug.. T87*-15%
Sept. 16 VI 5^2
Oct.. 16 VI 27*
Nov.. 13 VI24
Dec... 12 VI I3*
1879.
13V11L>
13 VI2%
13 VI23*
1534-125*
22 VI5 l,
20 VI914
21VI *34
21 %-16%
19 VI6 34
32 j4-19
37V30
36 -32%
1879.
•$
$
$ "
957,215 1,316,089
673,980
35 -32
525,410
877,865 1,063,309
36 -34is
695,334 1,041,142 1,457,321
353*-29i4
991,028 1,142,864
30V 87* 1,286,014 1,332,547 1,457,881
2214-1634 1,498,658 1,343,014 1,398,536
19 VI31-2
987,721 1,303,522 1,282,835
12V 91-2 1,402,792 1,462,280 1,531,813
lOVll^
779,481 1,374,013 2,029,256
23 VI414 1,408,674 1,542,911 1,746,298
.........
1,683,022 1,531,204
881,656 1,442,587
*1880.
361-2-33 %
-
.........
Operations and earnings for five years past were as follows:
Years.
Passenger
Miles.
799
799
799
799
892
■
cr
*
Including coal.
1880.
Miloage.
76,556,003
123.*71.237
74.315,237
75.110,715
9*;982,902
Freight (ton)
Gross
Net
Revenue.
Mileage
Earnings.
555,128.028 $12,660,927 $7,162,644
556,121,169
711,526,398
610,492.192
818,390,913
12,227,510 3,717,161
12,142,910 4,468,493
11,539,593 4,419,591
13,106,352 4,161,763
This company
its stock.
also holds leases of the, Little Miami ami its
dependencies and of the Columbus Chicago A Indiana Central road,
which are operated by the Pennsylvania Company, and their earnings
separately stated. Common stock, $2,508,000; first preferred, $2,929,200; second preferred, $3,000,000. Gross earnings in 1879 of road
$3,606,107;
surplus over interest, Ac.,
$112,000.
net, $1,602,546;
$605,480. Loss on leased lines, Ac.. $193,480; net profit,
Operations and earnings for five years past were as follow s;
Passenger
Freight (ton
Gross
Years.
Miles.
Mileage.
Mileage.
Earnings.
201
29,524,028 ' 207,521,453
$3,185,248
201
42,253,185
249,909,882
3,283,683
' 201
28,622,519
3,108,193
236,678,518
201
28,804,112
3,176,371
287,757,418
201
31,535,558
367,377,011
3,600,107
Comparative statistics for four years were as follows :
,
$743,240
895,837
1,085,280
1,186,764
1,602,546
INCOME ACCOUNT.
Receipts—
,..
...
Total income
Dish u rse m en ts—
Rentals paid
Interest on debt
Other
Miscellan’s accounts.
Advances C. A M.Val.
To C.C.A LC. aee’t, 75
Loss on St.L.V.AT.U.
Balance, surplus
$
836,827
869,910
19,161
380,231
331,254
2,437,383
$
810,477
669,790
64,053
214,462
112,384
$
1,075,049
1,180,763
1,599,562
16’230
*/4,854
449,688
14,022
711,466
500,072
t 6,642,103
2,437,383
401,839
669,790
669,790
75,848
H6,496,956
105,000
2,325,050
$
821,299
833,625
136,980
2,123,144
132,944
$
828,127
283,390
105,000
105,000
,
40,375
13,422
8,227,514
16,144
412,002
65,200
2,123,144
*
Exclusive of Col. Chic. A Ind. Cent.
t Includes—Hale of preferred stock Hf.
x
+
8,227,514
$
820,123
491,589
56,468
18,160
1879.
1878.
1877.
1876.
Net earnings
Bills payable issued..
Rentals and interest.
Net from leased roads
All other accounts
Total
Net
Earnings.
38 693
2,325,050
r
Ixmls Vandaliu A Terre Haute,
$200,000; sale Union Depot bondH, $186,000; amount of certain liabili¬
ties caiiceledand surrendered by Pennsylvania Co., $5,866,721. '
+
Includes $180,400 bills payable of this company, canceled and sur¬
rendered by Pennsylvania Co.
H Includes—Reduction of second mortgage bonds, $2,500,000; reduc¬
tion of bills
payable, $3,509,221.
KAILKOAD
December, 1880. J
Subscribers will confer
a
STOCKS
AND
BONDS.
great favor by giving immediate notice of any
DESCRIPTION.
guar.
Special improvement stock, guaranteed....
1st mortgage
1st
do
^
1st
do
1st
do
1st
do
1st
do
2d
do
do
2d
2d
do
do
2d
2d
do
2d
do
3d
do
(series A)
-
do
do
do
do
do
do
do
do
do
do
do
B
C
D
E
F
G
H
I
K
L
M
■
Bonds
all
cou¬
pon, but may
be made paya¬
ble to order.
468
468
468
468
468
468
468
468
468
468
468
468
468
468
468
Pittsburg, Ft. Wayne & Chic, construction bonds.
18765.4
70
70
50
38
25
120
Buff.
Chautauqua Lake A Pitts., 1st mortgage
Buffalo A Southwestern, 1st mortgage
Pittsb. Ta. <& Charleston—1st mortgage, gold
67
30
21
23
112
Port Jervis dk llonticello—Stock
Port Royal <t Augusta -1st mortgage
Income mortgage bonds, coup
Portland <£ Oyaensb.— 1st mort., gold
New mortgage (for $3,300,000)
1,000
1,000
1,000
1,000
1,000
....
....
1,000
50
....
....
....
1878
1878
1870
1871
69
94
100
100
500
100
1878.
$
$
$
$
19,942,295
19,942,295
19,942,295
85,498
317,855
644,952
1,158,840
57,298
317,855
651,671
1,361,789
1517,928
92,312
291,868
Railroad,equipm’t,Ac 19,947,755
Stocks owned, cost...
Bonds owned, cost..
257,2:»8
485,655
Bettenn’tstol’sodr’ds
854,932
BilLsA acc’ts ree’vable
1,494,920
Materials, fuel, &c...
310,479
Cash on hand
373,870
Deficit in assets
16,031,208
Miscellaneous items
U
64,639
.
.
1454,013
59,316
329,178
64,6o9
•
1879.
*58,398
*317,855
660,293
1,202,433
1541,607
237,543
37,504
61,639
64,639
%
________________
Total assets.
29,820,756
23,056,586
23,297,655
$
Stock, common
2,508,000
Stock, preferred
5,928,600
Bds. (see Sljpplbm’T). 15,008,061
Bills payable
3,5. 9,223
$
•
2,508,000
5,929,200
12,508,061
$
Liabilities—
All other dues A acc’ts
Due Little Miami....
DueC. C. & I. C
Cin. Street Conn. bds.
Miscellaneous
Total liabilities.
.
1,447,138
2,508,000
5,929,200
12,497,000
23,062,567
$
2,508,000
5,929,200
12,497,000
902,479
184,601
262,500
70,154
721,954
889,060
184,601
262,500
53,210
956,898
888,808
184,601
262,500
70,648
726,893
888,783
184,601
262,500
65,590
29,820,756
23,056,586
23,297,655
23,062,567
‘Stocks and bonds ns follows: Little Miami, $1,100 stock, $8,000
bonds; Little Miami Elevated stock, $20,000; Dayton A Western bonds,
$34,855; C. C. A I. C. bonds, $27 5,000.
t Includes supplies March 31,1875, transferred.
t This item explained in note to income account for
1876, above.
U Additions to Cincinnati Street Connecting RR.
—(V. 28, p. 376; V. 29, p. 539; V. 30, p. 118, 298, 381.)
*
6 g.
7
7
7
7
7
6
7 g-
6 g.
0 g6 g.
6 g.
1,855,000
Miles.
468
468
468
7
7
7
7
7
7
7
7
7
7
7
7
7
8
100,000
1,000,000
2,000,000
2,000,000
1,500,000
580,000
500,000
1,155,000
250,000
l,0v»9,700
1,583,000
500,000
724,276
250,000
1,500,000
794,000
Years.
1877.
7
2,000,000
Ac.
Ac.
Ac.
Ac.
1876.
1\
875,000
860,000
860,000
860,000
860,000
860,000
860,000
500 Ac.
100 Ac.
500 Ac.
"
Ho
here
Payable, and by
Whom.
n ds— Princi¬
pal, When Due.
Stocks—Last
Dividend.
i
6,461,500
875,000
875,000
875,000
875,000
875,000
Ac.
Ac.
Ac.
Ac.
Ac.
Ac.
Ac.
Ac.
500 Ac.
500 Ac.
GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR.
Assets—
1879.
100
500 Ac.
500 Ac.
500 Ac,
....
....
Rate per When
Cent.
Payable
$100 $19,714,285
50
....
Pomeroy dk State Line—Stock
Outstanding
1878
1865
1862
1870
1876
1879
....
Equipment bonds (renewed)..
Pittsburg cC Lake Eric—Stock
1st mortgage, gold, coupon
Pittsb. Titusville dk lhiff.—1st mort. (W. & F.RR.)....
1st mortgage (Oil Creek RR.)
1st mortgage (Uu. A Titusville RR.)
2d mortgage (Pitts. T. A B.)
Amount
1871
1862
1862
1862
1862
1862
1862
1862
1862
1862
1862
1863
1862
1862
1857
1874
500
500
500
500
500
500
500
500
discovered in these Tables.
error
INTEREST OR DIVIDEN DS.
Miles Date Size, or
For explanation of column headings, &c., see notes
ol
of
Par
on first page of tables.
Road. Bonds Value.
Pittsburg Ft. Wayne rf Chicago—Stock,
xlvii
C -J
N. Y., Winslow L. A Co.
do
do
q —j.
do
J. A J.
do
,
F.
M.
A.
M.
A
A
A
A
A
A
A
A
A
A
A
A
A
A
IJ.
J.
F.
M.
A.
M.
J.
A.
J.
M.
A.
S.
O.
N.
D.
J.
A.
S.
^
O.
N.
D.
O
J.
S
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do*
do
do
5, 1880
July
July
July
July
July
July
July
July
July
July
July
July
July
1, 1912
1, 1912
1, 1912
1.
do
do
do
do
do
4- A J. Phila., E.W.Clarke A Co.
F. A A. Phila., Mauuf’rs’ N. Bk.
July 1,
Feb. 1,
Apr. 1,
July 1,
Feb.
1880
1, 1912
1,
1,
1,
1,
1,
1,
1,
1,
1,
Jan. 1,
Mch. 1,
do
do
do
do
do
J. A J. New York and Phila.
F. A A. Pbila., E.W.Clarke A Co.
A. A 0. Phila., Manuf’rs’ N. Bk.
M. A N.
Oct.
Oct.
1912
1912
1912
1912
1912
1912
1912
1912
1912
1887
1884
1928
1896
1882
1890
1, 1896
Philadelphia.
May 1, 1909
Philadelphia.
April 1, 1902
.
A. A O.
J.
A J. N. Y.. Office, 252 B’wav.
do
do
J Portland, Treas. Office.
J
M. A N.
do
do
4- «fc J•
.
•
*
Jan. 1, 1899
Jan. 1, 1899
Jan., 1900
Nov., 1901
Passenger
Freight (ton)
Gross
Net
Mileage.
76,466,488
77,819,493
Mileage.
439,998,281
637.470,506
Earnings.
$7,020,545
Earnings.
$2,956,147
3,529.085
86,406,476
803,053,260
7,872,476
8.461,563
Div’d
p.
ct.
3,720,298
7
7
7
-(V. 30. p. 674.)
Pittsburg dk Lake Brie.— From Pittsburg, Pa to Youngstown, O., 6S
miles; branch line to Newcastle, Pa., Smiles; total, 71 miles. Opened
Feb. 1, 1S79.
Floating debt, $751,550. The annual report was pub¬
lished in the Chronicle, V. 30, p. 141. The gross earnings in 1879 were
$335,648; net, $157,923. The Lake Shore A Michigan Southern sub¬
scribed for $200,000 of the stock. (V. 28, p. 113, 1471 V. 30. p. 141.)
,
Pittsburg Titusville if: Buffalo.-Brockton, N. Y., to Trvineton, Pa.
Cony and Oil City, 139 miles, and Union to Tryouville. Pa., 18
via
miles, total 157 miles.
This was a consolidation Feb. 10, 1880, of the
Pittsb. Titusv. A Buff. Railway aud the Buff.
Chatauqua Lake A Pittsb.
The
Pittsburg Titusville A Buffalo
organized
was
in 1876 as suc¬
of Oil Creek & Allcgh. RR which was a consolidation
embracing tbe
Oil Creek and Warren & Franklin roads. Default was made Aug. 8.1878.
cessor
,
on the consolidated bonds. The new
company is to assume al.1 liabilities oi
the old. See V. 30, p. 193, ;is follows: “ By the articles of consolidation,
the capital stock of the consolidated corporation is fixed at 127,500
shares of common stock of a par value of $50 per share, making
$6,375,000, and 15,000 shares of preferred stock of a par value of $50
each, making $750,000. The stockholders of the Buffalo ChatauquaLake A Pittsburg Company are to receive 27,500 shares of the common
stock of the consolidated company and 2,500 shares of the preferred
stock. But there shall he paid to tho consolidated company by the
stockholders of the company the aggregate sum of $175,000, $o0,000 of
which is to be expended upon improvements. It is also provided that
there shall be issued to the holders of the common stock of the Pittsburg
Titusville A Buffalo Railway Company, to represent property actually
received, 100,000 shares of the common stock of the consolidated com¬
pany, aud as many shares of the preferred stock as there shall at the
time of the ratification of the agreement be outstanding of the preferred
Pittsburg Fort Wayne if: Chicetao.—Pittsburg, Pa., to Chicago, Ill., 468
The company made default Oct. 1, 1857, and again in 1859, and stock of the
Mttsburg Titusville A Buffalo Railroad Company. The
was foreclosed Oct. 24, 1861, and reorganized under this title Feb. 26,
bonds of the Buffalo Chatauqua Lake A Pittsburg Company, amounting
1862. On June 27,,1869, the company leased all its road and property to $250,000, and all the bo.uls of the Pittsburg Titusville A Buffalo
to the Pennsylvania Railroad at a rental equivalent to interest, sink¬ Company, shall be assumed and paid by the consolidated
company.”
ing fund of debt, and 7 per cent- on $19,714,286 stock, which was —(V. 28, p. 18, 277; V. 29, p. 253; V. 30, p. 17, 67, 193. 519, 625 ; V.
Increased at that time from $11,500,000.
The le.ise was transferred 31, p. 16, 96, 171. 320, 560.)
subsequently to the Pennsylvania Conqtany. The lessees are to keep
the road in repair and also pay taxes, expenses, Ae. The Pittsburg Ft.
Pittsburg Virginia <0 Charleston.—From Birntinghom Pa., to MonongaWayne A Chicago leases the Newcastle & Beaver Valley and the Law¬ liela City, Pa., 30 miles. Tho stock is $676,613. Of the bonds, $500,000rence roads, which in turn are leased again by the Pennsylvania Com¬
are owned by tho
Pennsylvania Railroad. Net earnings in 1876 were
Of the 1st mortgage bonds, $1,121,000, and of the 2d mortgage $40,346; in 1877, $31,610; in 1878, $52,298; in 1879, $27,084. (V 28
pany.
$1,210,000, and $285,000 cash, were held in the sinking funds Jan. 1, p. 113.)
1880. The special improvement stock is issued to Pennsylvania RR.
for improvements, Ac., under article 16 of lease, viz.:
Pomeroy S State Line. -Poruerov, Pa., to Delaware State line, 21
“AinciLE 16. The party of the first part hereby agrees that, for the miles. The former Penn. A Del. UR. was leased to the
Pennsylvania
purpose of enabling the party of the second part to meet the obligations Railroad, with net earnings as rental.
On August 12, 1879, the road
of the party of the first part to the public, by making from time to time
was sold iu foreclosure for $100,000, and this
company organized, as
»uch improvements upon and additions to the said Pittsburg Fort Wayne owners of this
part of the road, which connects with the Newark & Del
& Chicago Railway, in the
extension of facilities for increased business City RR., 17 miles. Strickland Kneaes, President. Philadelphia, (Se*
by additional tracks and depots, shops and equipments, and the substi¬ V. 29, p. 162; V. 30, p. 170.)
tution of stone or iron bridges for wooden bridges, or steel rails for iron
rails, the party of the first part will issue, from time to time, a special
Port Jem is ii Monticello
From Port Jervis, N. Y., to Montioello, N. Y.,
stock, which sliall bear such mime as shall be hereafter agreed upon, or 24 miles. Formerly the Mouticellb A Port Jervis Railroad, which was
bonds, or other securities, which shall be issued in such form as may, sold iu foreclosure July 16, 1875, and reorganized as the present Port
from time to time, be found to be most available with respect to
Gross earnings iji 1879 $25,806; net earnings,
economy Jervis A Mouticello.
of interest and negotiability, and shall be consistent with the
legal $1,616. The stock is $724,276, issued to the former holders of first
powers of the party of the first part and the rights secured bv these mortgage bonds.
presents, which special stock, or bonds, or other securities, shall be
issued on the conditions following: The said party of the second part
Port Royal J Augusta.-*-June of road, Port Royal, S. C., to Augusta, Ga.,
shall guarantee the payment,
semi-annually or quarterly, thereon of 112 miles. Formerly Port Royal Railroad. Defaulted Nov. 1, 1873,
such rate of interest as may be agreed upon between the parties hereto, and receiver appointed
May 9, 1875. Sold in foreclosure June 6, 1878,
to he paid by the said party of the second part to the holders thereof and
purchased for the bondholders, who organized this company. The
without deduction from the rent hereinbefore reserved; and the said Georgia Railroad was endorser on $500,000 of the old bonds. Iu Jan.,
special stock, or bonds, or other securities, shall be issued only in respect ’81,2 per cent for 1879 was paid on income bonds. Tho new stock is
to Improvements of and additions to tho said
railway which, aud esti¬ $750,000. (V. 30, p. 466, V. 31, p. 653.)
mates and specifications of which, shall have been submitted to and
approved by the said pa ty of the first part in writing; and all such
Portland J Ogdentbyrg.—IAne from Portland Me., to Fabyans, 91
improvements or additions shall be made in such manner as shull be miles. It reaches the Vermont Division (now St. Johnsbury A Lak
approved by the said party of tho first part. The party of the first part Champlain) by using 14 miles of the Boston Co neon l A Montreal RR
shall not at any time, during the term aforesaid and the continuance of and a 3-mile link of its own.
Earnings of this road for five year*
this lease, make or issue any bond or obligation, in addition to the bonds
past were as follows:
hereinbefore specified, except subject to this lease, without the consent
in writing of the said party of the second
Miles.
Gross Earn’gs.
Net Earn’gs
part first had and obtained Yoars.
miles.
—
thereunto.”
The lease hos been profitable to the lessees.
for five years past were as follows :
Years.
Passenger Freight (ton)
Gross
Miles.
Mileage.
Mileage.
Earnings.
468
84,262,377 491,289,899 $7,863,664
107,790,180 567,572,005
7,853,848
$226,150
$104,017
94
234,980
262,764
91,066
69,431
94
270,783
88,574
94
271,493
92,295
1874-5....
Operations and earnings
Net
Div’d
Earnings, p. ct.
$3,278,398
3,066,687
7
7
1875-6....
1870-7....
1877-8
94
1878-9....
-(V. 28,
p.
144, 200; V. 29, p. 253, 435,
632
V. 30, p.
112,170, 651 j
For
notes
explanation of column headings, &c., see
on first page of tables.
Date
Miles
Size, or
Amount
Rate per
Par
of
of
Outstanding
Cent.
Road. Bonds Value.
.
Poughkeepsie Hartford d Boston—1st and
Providence d Springfield— 1st mortgage.
Providence d Worcester—Stock
“A”.
“B”.
6
J.
July 1, 1887
A. A O.
Oct.
3
100 Ac.
1,000
1873
100 Ac.
100
79
1871
1,000
35
250
199
Richmond d Danville
Stock
sinking fund loan
Bonds, guaranteed by State
3d mortgage, consolidated, coupon or registered.
New general mort., gold (for $6,000,000)
Piedmont branch, 1st mortgage
Northwestern. N. C., 1st mort., guar
1880
ioo
1867
1,000
49
29
....
1873
•
Rich'd Iredericksburg d Potomac—Bonds, ster
•
• •
Dollar loan
•
•
• •
....
25
25
25
New mortgage
100
,
1870
1875
1,000
500
Portland d Rochester—Portland, Me., to Rochester, N. H., 53 miles.
Put in the hands of a receiver February, 1877. The bonds series A and
B were issued to the city of Portland in exchange for city bonds, on
which the city pays interest. July 8, 1879, the interest of the city in
this road was sold to the receiver. (V. 28, p. 41, 625; V. 29, p. 42.)
Portland Saco d Portsmouth --Portland, Me., to
miles. It was leased May 4, 1871, to the Eastern
per cent on stock. Lease rental changed May
per cent. No debt. (V. 28, p. 580.)
Portsmouth, N. H., 51
Portsmouth Great Falls d Conway
—
Railroad, Mass., at 10
Conway Junction, Me., to North
The Eastern Railroad in Massachusetts has
bonds, and the stock is to receive the same dividends as the stock of the
lessees. The total stock is $1,150,300, of which the lessees
own
(V. 27, p. 15, 97, 115, 228.)
The Poughkeepsie A Eastern Railroad was
opened in 1872, and was sold in foreclosure May 15, 1875, and the
"York State Line, 43 miles.
present company organized. It connects writh the Connecticut Western
Railroad.
The stock is $850,000.
In 1878-9, gross earnings were
$51,844 and expenses $51,511. G. P. Pelton, President, Poughkeepsie,'
Providence d Springfield — Providence, R. I., to Pascoag, 23 miles. It
is proposed to extend the road to Springfield, Mass.
The stock is $517,150. In 1878-9, gross earnings were $79,988; net earnings, $39,302 ;
1879-80, gross $88,125, net $39,304.
Providence, R. l. v
in
.
William Tinkliam, President,
Providence d Worcester.—From Providence, R. I., to Worcester, Mass.,
43 miles; branches, 8 miles; leased -Milford A Woonsocket Railroad and
■
Hopkinton Railroad, 15 miles; total operated, 66 miles.
earnings for five years past were as follows:
Years.
Net
Div.
$890,660
Earnings.
$237,439
894,155
904,635
865,792
914,476
226,032
245,299
285,731
364,049
p. C.
10
8
4
4
5
Freight (ton)
Mileage.
Mileage.
Earnings.
66
14,976,537
13,516,407
13,592,849
13,973,108
13.753,392
14,283,114
17,192,890
18,862,705
17,916,241
19,286,814
1874-5.
...
Operations and
Gross
Passenger
Miles.
1875-6. ...66
1876-7.
66
1877-8. ...66
1878-9. ...66
<-
Raleigh d Gaston..—From Raleigh to Weldon, N. 0.. 97 miles. Stock,
$1,500,000. Dividend of 3 per cent paid October, 1880. Earnings for
five years past were as follows:
Years.
Gross
Net
Miles.
97
97
97
97
Earnings.
$261,142
242,245
Earnings.
$96,110
88,701
234,511
242,478
85,750
107,185
97
295,051
115,343
(14 mouths)
—(V. 27, p. 94.)
Reading d Columbia.—From Columbia to Sinking Springs, Pa., 40
miles; branches, 12 miles; Lancaster A Reading Railroad, leased, 15
:uiles; total operated, 67 miles. Stock, $958,268. The road is controlled
and operated by Philadelphia & Reading, but accounts kept separate.
Gross earnings in 1879, $274,844; net earnings, $100,146; payments for
interest and rental, $94,930.
Rensselaer d Saratoga.—Main line, Troy to Whitehall, N. Y., 73 miles;
branches, Albany to Waterford, 12 miles; to Green Island, 1 mile; to
Glens FuIIh, 6 miles; to Castletown, Vt., 14 miles; to Rutland, Vt., 62
miles; Balaton t* Schenectady, 15 miles; total line and branches, 183
miles. It was a consolidation of several lines, and the Delaware A Hud¬
son Canal Company leased the whole March 1, 1871, at a rental of 8 per
cent *»n the stock and 7 per cent on tin; bonds. The earnings given
below include the New York A Canada Railroad (150 miles). Opera¬
tions and earnings lor four years past were as follows:
Gross
Net
Div.
Passenger
Freight (ton)
Earnings, p.c.
Mileage.
Earnings.
Mileage.
Years. Miles,
30,698,401 $1,981,234 $694,786
8
20,965,596
332
30,718,974
1,826,942
332
18,761,702
660,195
8
32,283,281
1,823,360
754,346
8
19,292,79 J
3:52
1,911,105
38,809,900
506,782
8
.1878-9.. 332
19,536,543
—(V. 29, p. 581 ; V. 31, p. 357, 483.)
Rhinebeck d Connecticut.—Rhineeliff, N. Y., to Boston Corner, N. Y.,
35 miles. Opened April 4, 1875. Leases 6 miles to Connecticut State
line. Meek, $014,5o0. Gross earnings in 1877-§, $55,951; netearn
1874-965
109,400
1,766,900
500,000
500,000
57,327
177,516
450,000
6 A 7
8
2
8
7
1,009,300
150,000
50,000
m
m
m
a
A
J. A
J.
S.
D.
J.
J.
N.
&
&
A
A
M- A
-
-
-
1897
do
do
M.
J.
J.
J.
Jam
Providence, Office.
J.
Jan., 1898
Phila.,Pa.,A Ral’gh,N.C.
N. Y., Union Nat. Bank. Mch. 1, 1882
June, 1884
Columbia, First Nat.B’k
July 1, 1893
Phila., Co.’s Office.
N. Y., Nat. B’k Com’rce. Jan. 1, 1881
Nov., 1921
N.Y., Del.A H.Canal Co.
^
Richmond, Office.
A J.
J. A J.
M, A N.
J
do
N.
Y.,Nat. City Bank.
do
do
do
do
A. A 0. New York or Richmond
London.
J. A J.
Various
Richmond, Office.
J. A J. Phil.,Townsend W. A Co.
J. A J
Richmond, Office.
do
do
A. A O.
do
do
M. A N,
p
•
r
1, 1887
Sept. 1, 1891
July 15, 1880
Oct., 1880
July 15, 1873
Juno 1, 1937
July 1, 1892
1, 1881
-
J.
Jan. 3, 1881
1880
Jan. 1, 1875
1878 to ’90
•
'
ings, $1,162; rental, $7,833.
N. Y.
1888
1885
1880-85
1881-’90
Jan. 6, 1880
1881 to ’86
May 1, 1915
Edward Martin, President, Red Hook,
Richmond d Alleghany.—Richmond to
The company also owns by purchase the
Janies River & Kanawha Canal Co.
(V.
Clifton Fjrge, Va., 250 miles.
property and franchises of the
31,
p.
330, 653.)
Richmond d Danville.—From Richmond to Danville, Ya., 141 miles;
miles; Piedmont Railroad, leased, 49 miles; total, 201
12
Carolina Railroad and the Northwestern (N. C.)
also leased, but operated separately.
In 1878 the Pennsylvania
R. R., which had an interest in this line, purchased a control of the Char.
Col. A Aug. R.R., and tlrcso were sold, in 1880, by the Pennsylvania
The
North
are
Railroad, to
syndicate controlling the through line South.
a
The annual
report for 1879 was published in the Chronicle, V. 30, p? 142, and re¬
ferred to the business of the road as follows: The total gross tons of freight
transported are 354,521 tons, as against 282,730 tons for the previous
year; an increase of 71,791 tons, or 25*4 per cent. The mile tons for the
year are
47,144,636, as against 33,350,176 for the previous year; an
of 13,794,460, or 41*4 per cent.- The total gross earnings from
freight traffic are $1,145,373. against $956,634 for the previous year;
an increase of $188,739, or 19;7 per cent.
Of this increase, about 75*7
per cent in earnings is derived from through freights, and is duo in part
increase
to the
Poughkeepsie Hartford d Boston— From Poughkeepsie, N. Y., to New
-
3,866,000
508,486
miles.
made a lease of the road for 60 years from December 1,1878, with a guar¬
anteed rental of $45,000 a year, which pays 4^ per cent on $1,000,000
$551,300.
5,000,000
21, 1877, and now 6 branches,
Portsmouth d Dover— Portsmouth, N. H., to Dover, N. H., 11 miles.
'Opened February 1, 1874, and leased for 50 years to Eastern of New
Hampshire at 6 per cent per annum on the stock. Operated now by
Eastern (Mass.) A suit as to rental was decided April, 1880. Frank
Jones, President, Portsmouth, N. II. (V. 30, p. 358, 519; V. 31, p. 205.)
Conway, N. II., 71 miles.
7
3
6
8
7
7
7
4
7
7
7 g*
3
6
6
6
6 g8
6-70
6 g.
1,728,000
1874
142
Richmond d Petersburg—Stock
1st mortgage, coupon
4*2
800,000
10
Coupon bonds of 1881
1*2
820,000
650,000
350,000
350,000
7,000,000
1,925,000
1,000
A J. Boston, Columbian B’k.
do
do
do
do
Various
J. A J.
Boston, Office.
Portsmouth, Treas,
J. A J.
J. & J. Bost., Eastern RR. Co.
do
do
J. A D.
3
1,242,000
1864
40
40
15
181
2d mortgage, coupon
Lancaster & Reading, 1st mortgage
Rensselaer d Saratoga—Stock
1st mortgage, consolidated (for $2,000,000)
Rhinebeck d Conn— 1st mortgage, gold
Richmond d Alleghany—1st mortgage, gold
Dividend.
7
6
1,000,000
535,000
500,000
2,000,000
ioo
97
Raleigh & Gaston—1st mortgage
-Heading d Columbia—1st mortgage, coupon
11887745--5966.
1877
1877
1873
1862
New bonds
fitate
100
500 Ac.
42
23
67
2d mort.
Stocks—Last
Whom.
770,000
100
100
71
71
Payable, and by
Payable
769,000
450,000
1,500,000
769,000
52hj 1867-9 $500Ac.
52hj 1870 500 &c.
52hi 1871 500 &c.
51
11
Where
When
Bonds—Princi
pal,When Due*
$700,000
'
Portl. d Rochester—1st mort., s. f. (Portl. loan)
1st mortgage, equal lien
2d
do
(Portland loan) sinking fund,
Foi Aand Saco d Portsmouth—Stock
Portsmouth d Dover—Stock
Portsmouth Gt. Falls d Conway—Stock
1st mortgage
-
Tables.
INTEREST OR DIVIDENDS.
-
DESCRIPTION.
[v6l. xxxi.
notice of any error discovered in tbese
favor by giving immediate
Subscribers will confer a great
BONDS.
AND
STOCKS
BA1LR0AD
xlviii
-
improved facilities for handling this class of traffic which have
been effected, but also largely to the satisfactory connections with the
Charlotte Columbia & Augusta Railroad established in the fall of 1878,
as reported to your last meeting, by which an addition to the freight
traffic alone of $93,722 was received. The local and connection freights
of the Richmond A Danville Railroad have also yielded increased
revenues of $62,995; and passenger trains on all lines have produced
increased earnings over last year of $35,728, as shown above.
The income account was as follows:
Net earnings Richmond & Danville Railroad
Received from interest on investments
Deduct
Deduct
Deduct
Deduct
$499,994
".
40,526
$540,520
interest on funded debt
interest on floating debt
rental Piedmont Railroad
loss on lease North Carolina Railroad
$246,444
10,604
60,000
35,906
352,955
Net income
$187,565
:
PROFIT AND
LOSS.
30, 1878
Sundry accounts charged during past year
Balance to debit of this account, Sept.
$312,227
10,451 -
Following amounts credited during past year, viz :
Net income for the year 1879
$187,565
Premium on Greenville and Spartanburg county
bonds sold
19,868
Sundry accounts
.*
22,108
$322,678
229,541
$93,136
Balance....
Operations and earnings for five years past of Richmond & Danville
and Piedmont Railroads were as follows :
Passenger
Freight (ton)
Mileage.
Mileage.
7,336,680
7,358,335
10,372,844
17,435,445
$923,058
937,198
5,945,446
Miles.
Years.
21,183,343
909,317
5,895,111
7,057,080
201
201
23,514,209
33,120,675
Net
Gross
Earnings. Earnings.
942,386
1,098,597
$323,448
438,232
292,591
310,948
499,994
-(V. 30, p, 142, 651.)
Richmond
Fredericksburg d rotomac— From Richmond, Ya., to
Quantico, 80 miles. The common stock is $1,030,100 and guaranteed
stock is $500,400. An abstract of the report of 1878-79 was given in V.
29, p. 656. Gross earnings, $317,032; net earnings, $155,056. (V. 29,
p.
656; V. 31, 589.)
Richmond to Petersburg, Va., 22*2
Richmond d Petersburg.—From
miles; branch, 2 miles; total, 241smiles. The road lias earned moderate
dividends and the debt account is very small. Operations and earnings
for five years
past were as follows:
Passenger
Miles.
Years.
1875-6
...
25
Mileage.
2,238,173
2,097,59 1
25
2,010,684
25
2,170,390
25
2,281,321
—Annual report, V. 30, p. 272
4870-7
1877-8......
1878-9
1879-80.
..
...
...
...
Freight (ton)
Gross
Net
Div.
Earnings. Earn’gs. p.c.
1,475,359. $137,407 $60,096
47,271
'137,116
1,576,203
4
62,553
140,069
1,591,670
4
73,071
154,622
2,047,430
4
79,€99
161,198
2,405,878
Mileage.
.
m
m
m
KAILROAD
December, 1880.]
Subscribers will confer a great favor
DESCRIPTION.
For
by giving Immediate notice of any error discovered In tbese Tables.
Miles
18
108
•
General mortgage, sinking fund
2d mortgage
<
Consol, inort., convert, till July, ’79, coup
Size,
Rutland—General mort. (8 per cent, reduced to 6)..
New 2d mort. in exch. for equipment bonds, Ac.
Sacramento <2 Placcrville -1st mortgage (S. V. RR.).
& P. RR.)
Saginaw valley <2 St. Louis.—1st mortg., coup
St. Johnsbury <2 Lake Champlain—1st mort
St. Joseph <2 St. Louis—1st mortgage bonds
St. Joseph (2 Western— 1st M. St. Joseph & Pacific..
2d mortgage
Kansas & Nebraska, 1st mortgage
do
2d mortgage
let mortgage (S.
to Jan.1,’80
sinking fund..
sinking fund..
(series C)
(series D)
Equipment mortgage
409
45
120
120
49
34 %
117
76
112
112
115
115
209
m
m
m
©
ft ce
o
St. L. Hannibal *2 Keok.—1st M . convertible
St. Louis Iron Mountain <2 Southerni—Stock
1st mortgage, coupon
till ’87
•
•
50
....
•
100
100 Ac.
500 Ac.
....
1855
1861
1872
1874
1871
1872
1878
1855
1877
1872
1880
1874
1876
1876
1876
1876
m
m
1,000
....
....
100 Ac.
....
100 Ac.
e,
®
®
©
100
100
....
1,000
1,000
1867
1,000
Talley.—Avon to Rochester, N. Y., 18 miles.
1,1871, in perpetuity, to Erie Railway, and now operated
Rochester d- Genessec
Leased July
by New York Lake Erie & Western.
President, Rochester, N. Y.
7
6
5
10
6
8
6
7
7
7
7
Rental, $34,012. James Broekett,
Rochester (2 State Line.—Rochester, N.Y, to Salamanca, N. Y., 108 miles.
The road was opened May 15, 1878, and was closely allied to the N. Y.
Central in management, and an order was granted, February, 1880,
appointing Sylvanus J. Macy, of Rochester. Receiver of the company,
afid a decree of sale made in December. 1880. The road had been largely
assisted by the City of Rochester. In November, 1880. a syndicate in
New York bought $580,000 bonds and $1,200,000 of the stock, and
will reorganize. See plan in Y. 31, p. 051. (V. 30, p. 170, 223, 589; V.
31, p. 330, 536, 560, 653.)
Ill., to Peoria, Ill., 91 miles. This
foreclosure of the first mortgage
April 4, 1877, the bondholders becoming the purchasers. Capital stock,
$1,500,000. Gross earnings, 1879, $387,580; net earnings, $89,833, out
of which a 5 per cent dividend was paid on the stock. (V. 28, p. 351.)
Rock Island <2 Peoria— Rock Island,
is the Peoria & Rock Island, sold in
A J. N. Y., Corn Exch. Bank.
A J. N. Y., Farm. I- AT. Co.
do
do
A S.
do
do
A D.
do
do
A J.
do
do
A O.
do
do
A J.
A N. Bost., Bk. of Redcmpt’n
A A.
do
do
9th Nat. Bk.
M. A N. New York,
J.
J.
J.
J.
J.
rr
4
A
A
A
A
A
....
Jan.
1,
1881
July 1. 1902
J.
A.
F.
M.
' M.
| M.
; A.
Dec. 1,
1891
Jan.1, 1892
July 1, 1904
July, 1901
Nov. 1, 1902
1898
1875
1900
May 1, 1902
Jan.
Jan.
Jan.
Jan.
do
3, 1915
1, 1915
1, 1915
1, 1915
Y., Office 50 Wall st.
N. Y.,
Feb. 1,1878
do
do
do
do
do
do
do
do
do
do
do
do
do
do
A J.
A O.
A A.
A N.
A N.
A S.
A O.
July 15,1875
Sept. 1, 1910
1910
do
N.
Jan. 1, 1900
July 3. 1894
New York.
New York.
do
J.
J.
J.
J.
J.
.
2
7
7
7
7
7
10
7
140,000
21,291,296
4,000,000
-
A J. N.Y., by N.Y.L.E. AW.Co
A J. N. Y., Union Trust Co.
1880
7
7
7
7
1,400,000
1,700,000
300,000
100 Ac.
100
Dividend.
J.
J.
M.
J.
J.
A.
J.
M.
F.
10
3
1,400,000
500 Ac.
Stocks— Last
Whom.'
....
1,100,000
1,000
1,000
pal^When Due,
Where Payable, and by
J.
J.
3
7
2,468,400
1,100,000
500 Ac.
1864
1864
1864
1864
1864
1870
1877
Payable
1,021,500
1,000,000
4,260,000
500,000
1,500,000
1,500,000
400,000
700,000
446,000
600,000
500,000
1,900,000
1,200,000
1,900,000
1,200,000
2,300,000
100 Ac.
100 Ac.
m
Cent.
5,293,900
422,500
1,000
1,000
1,000
m
When
150,000
25,000
1878
Rate per
$555,200
2,160,000
1,500,000
$100
1,000
685
210
Amount
Outstanding
Value.
-
"S
•O'd
•
or
Par
1878
•
190
Syracuse Northern (gold)
1st mortgage (series A)
1st mortgage (series B)
2d mortgage, preferred
2d mortgage, preferred
2d mortgage, income
•
91
409
97
190
Rome Watertown <2 Ogdensburg—Stock
1st sinking fund inort., Wat. & R. (extended)
St. Louis A lion <2 Terre Haute—Stock
Pref. st’ek (7 cumulative), 51 p.c. due
•
Bonds—Princi¬
INTEREST OR DIVIDENDS.
Date
of
of
explanation of column headings, Ac., see notes
Road. Bonds
on first page of tables.
Rochester <2 Genesee Talley—Stock
Rochester <2 State Line.—1st mortgage
Rock Island <2 Peoria—Stock
1st mortgage
xlix
BONDS
AND
STOCKS
1894
1894
1894
1894
1894
1880
Nat, City Bank.
Oct.
1, 1917
i
F. A A.
7
*
N.Y.,Office 20Na8saust
Aug. 1, 1892
holders of the old laud scrip of $2,250,000; in June, 1880, a dividend of
121*3 per cent was declared from proceeds of land sales. On the Kansas
& Nebraska bonds the first coupou is due July, 1881. The road is leased
to Kansas Pacific, and thus to the Union Pacific, and was to be extended
(as reported) to a junction with the Kansas Pacific at Agate, 66 miles
east of Denver, but the coupons on St. Joseph A Pacific bonds due
July, 1880, were not paid. (V. 28, p. 351, 625;, V. 29, p. 331, 670; V.
30, p. 93, 170.)
St. Louis Alton <2 Terre Haute—Main
East St. Louis, 189 miles; branches, 19
Southern Illinois Railroad, 56 miles;
line from Terre Haute, Ind., to
miles; leased line—Belleville A
total operated, 264 miles.
company was a reorganization, Feb. 18, 1861, of
A St. Louis Railroad. The Belleville A Southern
This
the Terre Haute Alton
Illinois is leased to this
company for 999 years from Oct. 1, 1866. The main line (St. L. Alton
A Terre Haute) was leased June 1,1867, for 99 years to the Indianapolis
A St. Louis Railroad at a rental of 30 per cent of the gross earnings up
to $2,000,000, 25 per cent on the next $1,000,000, and 20 per cent on
all over $3,000,000; but it was agreed that in no year should the rental
be less than $450,000. The lease was guaranteed by three other com¬
panies (See V. 26, p. 614 and 654). The lease was unprofitable and the
Ogdensburg.—Rome to Ogdensburg, 141 miles; solvent guarantors refused to pay more than their one-third of the de¬
branches, 49 miles; Oswego to Lewiston, 146 miles; Sandy Creek to ficiency, and a suit was begun, which is still pending. In 1879-80 the
Syracuse, 44 miles; leased Oswego & Rome Railroad, 29 miles; total company recovered from the former purchasing committee, Messrs.
owned, leased and operated, 409 miles. It was a consolidation October. Tilden, Butler, Sage and Bayard, $400,000 for bonds retained by them at
1861, of the Watertown & Rome and the Pottsdam & Watertown rail¬ the time of reorganization. The Belleville Branch and Extension are
roads. The Lake Ontario Shore Railroad was foreclosed September 22, operated separately by this company, and earned net in 1879, $159,359.
1874, and transferred to this company January 15,1875. The Syracuse —(V. 27, p. 17, 140, 437, 454, 488, 603, 678 ; V. 28, p. 476; V. 29, p.
Nortnem was foreclosed, and purchased by this company August 1, 436, 658; V. 30, p. 170, 407.)
1875. The Oswego & Rome was leased January 1,1866, at 8 per cent
on stock and interest on bonds.
The Rome Watertown & Ogdensburg
St. Louis Hannibal <2 Keokuk.—From Hannibal, Mo., to Keokuk. This
has been in default on coupons of the consolidated bonds since April 1, is a new road under construction. The bonds were offered in New York,
1878. No reorganization or foreclosure hue taken place. Operations
March, 1880, at $12,000 per mile. (V. 29, p. 539, 608.)
and earnings for five years past were as follows;
Rome
Watertown <2
Passenger
Years.
Miles.
1875-6
.
1876-7
1877-8
1878-9
1879-80
.
.
.
....
—<V. 26, p.
.
335
409
409
409
409
Freight (ton)
Mileage.
15,588,607
17,549,628
15,199,509
Mileage.
20,366,365
26,732,738,
24,967,418
Net
Gross
Earnings. Earnings.
$1,221,727
$277,574
1,248,842
1,203,786
3,143,288
1,467,894
336,708
350,747
308,648
487,738
25,914,496
43,538,148
16,402,043
334; V. 28, p. 276 ; V. 29, p. 68, 581; V. 31,
20,517.456
p.
406,
653.)
Rutland.—From Bellow’s Falls, Vt., to Burlington,
Vt., 120 miles. This
road has been through many changes. It was leased to the Central Ver¬
mont in December, 1870, for 20 years, but the lessee became insolvent,
and finally a mollification of the lease was made, giving $250,000 per
year as a minimum rental and $8,000 for organization expenses. The
bondholders agreed to accept 5 per cent bonus in exchange for
ments and 6 per cent bonds m lieu of 8 per cents. (See last annual report,
V. 29, p. 145.)
The common stock is $2,480,600 and preferred
$4,000,000. (V 30, p. 118 ; V. 31, p. 124, 153, 484.)
equip¬
Placerville.—Sacramento,-Cal.,* to Shingle Springs, Cal.,
was a consolidation of the Sacramento Valley and the
Folsom & Placcrville railroads, April 19,1877. Capital stock, $1,756,000. Gross earnings, 1878, $157,750; net earnings, $56,688.
Sacramento <2
49^j miles.
This
Saginaw Talley <2 St. Louis.—From Saginaw to St. Louis, Mich., 35
Road opened January, 1873. Has a traffic guarantee from
Michigan Central. Capital stock, $264,804. In 1878, gross earnings
were $84,952; net $51,967.
Interest payments, Ac*, $53,728. In July,
1879, management was transferred to the Detroit Lansing & Northern.
-<V. 27, p. 304; V. 29, l>. 96.)
miles.
St. Louis Iron Mountain <2 Southern.—Line of road, St. Ixmis, Mo., to
Texarkana, Texas Line, 490 miles; branch lines, Mineral Point, Mo., to
Potosi, Mo., 4 miles; Bismarck, Mo., to Belmont, Mo., 120 miles; Poplar
Bluff, Mo., to Bird’s Point, Mo. (Cairo),.71 miles; total, 685 miles. This
was a consolidation (May 6, 1874) of the St. Louis A lion Mountain, the
Arkansas Branch, the Cairo A Fulton and the Cairo Arkansas A
Texas railroads. In. 1875 the company defaulted, and certain eoupons
Finally a new compromise agreement was made Novem¬
By
1878, as reported in the Chronicle (V. 29, p. 43).
this the subscribing bondholders agreed to deposit with the Union
Trust Company the funded interest certificates and unpaid coupons
belonging to their mortgage bonds, and to receive in exchange
therefor first preferred income bonds, bearing 7 per cent interest,
payable annually on March 1 out of the net surplus income of
the preceding calendar year (interest accumulative).
The interest
certificates and coupons for which they are issued are not to be
canceled, but held as security for the execution of the agreement
as specially provided.
The subscribing bondholders who hold consoli¬
funded.
were
ber
27,
dated mortgage bonds agree to deposit them with the Union Trust Co.,
and to reeieve in exchange therefor second preferred income bonds,
bearing 6 per cent interest, payable annually out of the net
surplus in¬
remaining after the payment of all interest due on the first pre¬
ferred income bonds, and accumulative.
The consolidated mortgage
bonds are not to be canceled, but kept- as security for the execution of
the agreement- as specially provided.
The subscribing stockholders
agreed to transfer their stock to the trustees, who should have the abso¬
lute right to vote upon the same. In March, 1880, the managers put an
end to the stock trust by obtaining the consent of the bondholders,
promising to pay interest on both first- and second incomes: but inter¬
est on the seconds was not paid until Oct. 12, 1880, wheu
per cent
was paid for the fifteen months up to January 1, 1880.
In December,
80, Mr. Jay Goulf
1879 was published in V. 30, p. 320. ComparaThe annual report
come
•
Johnsbury <2 Lake Champlain.—This was the Portland & Ogdens¬
burg, Vermont Division, anil was reorganized under this title in 1880.
—(V. 30, p. 651; V. 31, p. 21, 397.)
St.
St. Joseph <2 St. Louis.—St. Joseph, Mo., to Lexington, Mo., 76 miles.
Present company is successor to the St. Louis A St. Joseph Railroad, sold
in foreclosure February 8, 1874. The St. Louis Kansas City & Northern
took a lease of the road for 99 years July 1,1874. The terms of the
lease are an annual pajrment of $35,000 for live years and then 30 per
cent of gross earnings, but $25,000 guaranteed. Stock, $100,OuO; par,
in New York.
St. Joseph <2 Western.—Line of rond: East Division—West St. Joseph,
Kan., to Marysville, Kan, 112 miles; West Division—Marysville, Kan.,
to Hastings, Neb., 115 miles; total, 227 miles. This is a reorganization
of the former St. Joseph & Denver City road, which went into the hands
of a receiver in 1874 and was sold in foreclosure in November, 1875.
On the foreclosure of the two divisions two companies were organized,
the St. Joseph & Pacific and the Kansas & Nebraska, with bonds as
$100; dividends payable March and September
These were consolidated as St. Joseph & West., with $3,300,000
stock, par $100. The present bonds have no lien on lunds, as the
grant of 300,000 acres was put in hands of trust cos for the benefit of the
above.
land
ears are as
follows:
EARNINGS.
$
Total gross
earn’gs
4,002,045
..
1877.
1878.
$
1876.
$
4,500,422
4,514,321
1879
$
5,292,611
INCOME ACCOUNT.
$
Receipts—
et
1,483,646
earnings
Disbursements—
iterest on bonds....
ther interest
$ ’
1,762,095
260,263
bds.
8,100
33,684
isc’t
on con. m.
iscellaneous
580,496
Balance, deficit.,
-
*
,
Includes taxes on Ark. trust
ment
$
1,814,600
167,027
*370,257
120,331
416,950
2,222,194
84,660
32,825
2,300,555
341,334
$
40,438
J
$105,139; judg¬
$50,400; change of gaugo, $195,169.
lands for 1874-5-6-7-8,
by Rogers’ Looomo’e Works,
$
1,945,956
390.199
667.800
;
*>
$
$
2,131,902
$
1,740,207
rr-
Subscribers will confer
a
S>. Louis Iron Mountain d: Southern—(Continued)—
2d mortgage, gold, coupon, may be registered—
Arkansas Branch, 1st mortgage, gold, land grant
Cairo Ark. & Texas, 1st mort., gold, coup or reg."
Cairo & Fulton, 1st lr ort., gold, on road and land
1st pref. income bonds, reg., (cumulative)
2d pref. income bonds, reg., (cumulative)
SI. Louis Keokuk d!• N. W.- Stock($l,350,000 is pref.)
1st mortgage
Income bonds
St. L.d. S.Francisco.— 1st M. (So. Pac.), g., (I’d grant)
2d mortgage bonds, A
do
do
B, gold
do
do
C, gold
->
310
99
71
304
135
135
Outstanding
1,000
1,000
1,000
1868
1876
1876
1876
1,000
1,000
500
100
500
500
Ac.
Ac.
Ac.
Ac.
2d mort., sink, fund ($1,600,000 guar.)
St. Paul d Duluth— Preferred 7 per cent stock.
Common stock
St. Paul Minneapolis d Manitoba—Stock
1st mortgage, St. Paul to St. A
2d M., and 1st on road from St. Paul to Watab
1st mort. land graut sinking fund, gold
2d mort., gold
210
420
158
15 8
169
169
1,000
1,100,000
200,000
3,250,000
5,145,000
1,899,000
2,600,000
300,000
Bills A acc’ts receiv’le
Materials, fuel, Ac...
Cash
264,694
1877.
$
44,960,735
753,581
3,742,908
1,000
500 Ac.
1,000
1,000
Too
1862
1862
1879
1879
1.000
1,000
100 Ac.
1,000
YEAR.
1878.
1879.
$
45,237,715
656,977
3,648,008
$
45,691,907
320,564
198,310
432,365
506,629
598,313
3,556,472
7
7
7
7
7
6
Jan.
Jan.
1, 1906
1, 1906
6 g. J. A J. N. Y., Company’s Office
July, 1888
6 g. M. A N.
do
do
Nov. 1, 1906
3 Ac. g. M. A N.
do
do
Nov. 1, 1906
6
•
•
•
J.
•
A J.
....
3 Ac. g.
7 g.
10
6 g.
M. A N.
J. A D.
do
do
do
do
Q-J.
F.
A A.
Nov. 1. 1906
June 1, 1895
Jan. 1. 1884
do
do
do
do
Aug. 1, 1919
....
7 g.
7 g7
7
M.
F.
J.
M.
A N. N.
A A.
A J. N.
A N.
....
do
do
Y., Third Nat. Bank.
do
do
Jan. 1,
1897
May 1, 1898
....
....
N*v., 1894
Aug., 1902
Y., G. Opdyke A Co.
....
15,000,000
120,000
366,000
7,838,900
8,000,000
8
7
7 g.
6 g.
M. A
J. A
J.-A
A. A
S. N.Y.,J.S. KennedyA Co.
do
J.
do
J. New York and London.
0.
do
do
1881
1892
1909
Oct. 1, 1909
St. Louis <£ Southeastern.—Line of road—East
St. Louis,' Ill., to
Evansville, Ind., 160 miles; branches to Shawneetown, Ill., 41 miles,
and to O’Fa.Jon, Ill., 6 miles; total, 208 miles. The whole consolidated
line, June 1,1872, embraced the Evansville Henderson A Nashville and
the Edgefield A Kentucky Railroads, 353 miles in all. Capital stock,
$4,866,250 common and $5,974,850 preferred. Default was made in
1873 and receiver appointed Nov. 1. 1874. The Tennessee Division was
sold April 9,1879, and purchased in the interest of the Louisville A Nash¬
ville, and the Kentucky Division sold July 19, 1879,. to the same com¬
pany. The St. Louis Division went to the Nashville Chattanooga A St.
Louis, and was leased’at $300,000 per year, and tho Louisville A Nash¬
ville as assignee paid that rental, and was to issuo $3,500,000 6 per
cent 1 st mortg. bonds and $3,000,000 3 per cent 2d mortg. bonds to
represent tho old securities. The road was noticed for sale in foreclosure
on Nov. 16, 1880.
(V. 28, p. 18, 353, 378; V. 29, p. 42, 96, 303, 631,
632; V. 30, p. 43, 299; V. 31, 248, 359, 536.)
52,335,184
53,219,959
$
21,471,151
25,909,000
2,440,125
430,415
$
21,469,101
25,909,000
21,458,961
30,068,657
St. Louis Yandalia d’ Terre Haute— From East St. Louis to Indiana
State line, 158 miles. Road opened July 1, 1870. It is leased to the
Terre Haute A Indianapolis Railroad at a rental of 30 per cent of gross
539,029
2,438.165
1,979,889
489,019
108,210
11,095,111
earnings.
.
Equipm’t renewal fd.
777,456
53,360
.
was as
Gross
For the year ending October 31,1879, tho incomo account
follows:
earnings,
as
reported by the lessee
Thirty per cent of which, being rental,
Add interest received
Total liabilities...
50,114,055
51,028,147
52,335,184
53,219,959
*This includes
$569,846 of Arkansas land trust notes.
I This includes sundry coupons overdue, $26,390; coupons on Divi¬
sional mortgage bonds to
bonds, $579,174.
June, 1880, inclusive, $489,368, and
—(V. 28, p. 43, 173, 302, 325; Y.
on
St. Louis Keokuk d Northwestern— Keokuk, la., to St. Peters, 135
miles. The Mississippi Valley A Western Railroad was sold April 14,
1875, and this company organized July 1, 1875.
Road completed in
Autumn of 1879. Income bonds above were originally a
part of
$2,750,000 first mortgage bonds, but by agreement they were changed
into their present form. Gross earnings for ten months ending Dec.
31,
1878, were $170,356 and net earnmgs $28,014.
St. Louis d: San Francisco.—Line of road, Pacific,
Mo., to Vinita, T. T.,
327 miles, and branch from Peirce
City, on main line, to Wichita, Kan.,
227 miles; total, 554 miles. This
company was organized September 20,
1876, as successor to the Atlantic A Pacific Railroad. The latter was
chartered by act of Congress July 27. 1866, and embraced the South
Pacific Railroad (originally the Southwest Branch of the Pacific Railroad
of Missouri), which was consolidated with the Atlantic A Pacific road
Ootober 25, 1870.
The South Pacific Railroad had a grant of lands
by act of Congress June 10, 1852, of 1,161,205 acres. The Atlantic A
Pacific received about 500,000 acres of land.
The South Pacific lands
showed 617,909 acres on hand January 1,1879.- Atlantic A Pacific lands
showed 294,286 acres on hand at same
date, and for these lands (A. A P.)
the second mortgage bonds, class B, are receivable in
payment.
The
stock authorized (and
mostly issued) is $4,500,000 of first preferred,
$10,000,000 of preferred and $10,500,000 of common. The interest on
bonds
and “ C ” is 3 per cent for
1879-’80-’81, 4 for 1882, 5 for
1883 and 6 afterward. An abstract of the last annual
report was pubin
Y*30,p. 355. On January 31, 1880, an agreement was made
with the Atchison Topeka A Santa Fe for construction of a
through line
to the Pacific coast on the parallel from
Albuquerque, on the Rio Grande,
to San Francisco.
The road is to cost $25,000,000, and to be known
as the Atlantic A Pacific
Railway. Three trustees—John A. Stewart,
of the U. S. Trust Company, -Warren
Sawyer and H. P. Kidder, of Boston
—are appointed to hold the stock in trust.
The voting power is to be
vested in six directors of each road. The old
companies are to preserve
their separate organizations, and the gains of tratlic on the extension
are
divided m equal proportions. The two
companies divide the issue of
bonds (*2o,000,000). The cost of the first division will be about
$12,500,000. Stockholders in the Atcli. A Santa Fe and St. L. A S. F.
companies
will have the right to subscribe for a 6
per cent bond at par, receiving
therewith a $750 6 per cent income bond. The Atlantic A Pacific
Com¬
pany will reserve the right to take from subscribers, before 40 per cent
of the subscription has been paid,
the first mortgage bond, paying back
the subscriptions advanced with
interest, but leaving with subscribers
bond for $500
costing nothing. Each company agrees to furof this amount, and in addition to its share of bonds
a bonus in stock.
The annual report for 1879 was
pubv. 30, p. 355,
showing gross earnings of $1,519,162, against
an income
nish one-lialf
eceives also
1V2i)i;6u !n 1878; and net earnings $868,779 in 1879, against
nl8/8. Tno mterest
charge
was
$613,064.
$626,14 3
(V. 28, p. 253,454, 495,
p- 145’ 331» 683, 436, 460, 539, 583, 630; Y. 30,
A
.
298, 355 499, 433, 539, 568; V. 31,
on
was
p.
511.)
p.
$1,244,643
373,393
i.
city of Greenville bonds
185
Total income.
The
$373,578
year’s charges against this sum were:
Interest
Interest
on
on
Taxes
first mortgage bonds
second mortgage bonds
$132,930
182,000
33,422
2,974—
General expenses
29, p. 18; V. 30, p.
193, 249, 298,
*S*0, 358, 434, 625; V. 31, p. 88, 248, 359,406, 560, 638, 653.)
do
....
51,028,147
$
67, 143, 191, 28.
London.
May 1, 1807
Co.’s Office. June 1, 1895
June 1, 1897
do
Jan. 1, 1891
do
Pd. May, 1880
do
or
1,236,415
604,826
Liabilities—
m
Stocks—Last
Dividend.
416,951
15,000
35,798
Stock
21,510,253
Funded debt
24,797,000
Oertfs. & unfund. cou
2,263,565
Bills payable, Ac
1,375,576
Funded interest
Interest accrued, Ac.
114,300
shed
Whom.
50,114,055
Total assets
i
Payable, and by
242,312
386,892
1,577.753
*
656,677
hand
Inoome account
Miscellaneous items.
•
j
241,382
208,458
1,116,081
5,000
on
income
Where
M. A N. New York
J. A D. New York,
J. A D.
do
do
J. A J.
do
March.
March.
do
g.
g.
g.
g.
....
4,798,862
4,055,407
....
656
GENERAL BALANCE AT CLOSE OF EACH FISCAL
$
Road and eqnipm’t.. 44,755,806
Real estate
786,228
Lands
3,839,579
’69-71
1872
1867
1868
10
76
656
Payable
1,000.000
'
Joplin RR. bonds
St. Louis d Southeastern—1st M., gold. conv. s. nmd
Consolidated mortgage, gold, sinking fund
Cent.
2,348,000
1,000
1879
84
& Western, gold
When
2,500,000
1,4 50,000
7,948,000
4,054,937
4,088,720
2,700,000
1,620,000
1,080,000
7,144,500
419,305
2,716,932
1880
1874
1876.
discovered in tbese Tables*
Rate per
$6,000,000
1.000
1876
1876
135
293
Amount
$1,000
1872
1870
1872
1870
1879
1879
Equipment mortgage, gold
Assets—
[Vol. XXXI.
INTEREST OR DIVIDENDS.
Date
Size, or
of
of
Par
Road. Bonds Value.
Miles
explanation of column headings, Ao., see notes
on first page of tables.
Band debentures
New mortgage, Mo.
BONDS.
AND
great fkvor by giving immediate notice of any error
DESCRIPTION.
For
STOCKS
RAILROAD
351,327
Leaving a surplus for the fiscal year of
$22,25*1
—which was applied to the repayment of advanoos heretofore made to
this company by the lessee, leaving the balance to debit of profit and
loss, October 31, 1879, $320,734.
The annual report for 1878-79 was
published in the Chronicle, V. 30, p. 116. The first mortgage and
$1,000,000 of second mortgage bonds are guaranteed by the lessees and
also by the Pitts. Cin. A St. Louis Railroad and the Col. Chic. A I. C. Co.
The stock is $2,383,315 common and $1,544,700 preferred. The pre¬
ferred was issued for income bonds ($1,000,000) and for deficiencies
made up by the lessees.
Thos. D. Messier, President, Pittsburg, Pa.
Operations and earnings for five years past were as follows:
Years.
Miles.
1874-5..
158
1875-6..
158
1876-7.. ..158
1877-8.. ..158
1878-9..
158
..
..
..
-(V. 28, p
Passenger
Mileage.
15,891,779
16,180,710
14,827,425
13,092,370
12,974,971
19; V. 30, p. 116.)
Freight (ton)
Gross
Net
Mileage.
Earnings.
Earnings.
40,063,114
45,972,258
50,618,136
58,722,821
$996,803
1,062,075
1,052,208
1,054,627
66,424,189
1,244,643
$176,444
247,393
207,067
158,685
294,272
St. Paul d Duluth.—Line of road, St. Paul, Minn., to Duluth, Minn., 156
miles; Stillwater A St. Paul Railroad (leased), 13 miles; total, 169 miles.
This was the Lake Superior A Mississippi Railroad, opened
August 1,
1870, and leased to the Northern Pacific. Default made January 1,1875,
and road sold in foreclosure May 1, 1877, and
reorganized June 27th.
The preferred stock is received in payment for lands at
par. Three
shares of common stock have one vote, and each share of preferred has
one vote.
The company has a land grant, of whioh about 1,276,000
acres remain unsold.
In 1879 gross earnings for seven months ending
Dec. 31 were $408,512; net earnings, $132,720.
(V. 29, p.68,118,
436 ; V. 30, p. 58, 264, 545; V. 31, p. 96,153.
St. Paul Minneapolis d- Manitoba.—This company was organized out
of the St. Paul A Pacific RR., the First Division of the St. P. A Pacific RR.,
the Red River Val. RR., and the Red River A Manitoba RR.—565 miles
of road, from St. Paul and Minneapolis to Manitoba boundary line, and ft
line from Alexandria to
Winnepeg, 90 miles, and from Fisher’s Landing
to Grapd Forks, 12 miles, making 667 miles in all. The company takes
2,000,000,
of land
as successor to the roads above named, which
The small amount of the two mortgages first above
named, about $486,000, is all that remains of the old bonds, and the new
were
acres
foreclosed.
land-grant mortgage is practically a first lien on the whole property at
$12,000 per mile. The proceeds of land sales are reserved by the first
mortgage trustees as a sinking fund for the redemption of the bonds at
or under 105 and interest., and up to April 1, 1880, $540,200 of debt was
paid off. The second mortgage bonds do not cover the land. The com¬
pany was organized May 23, 1879, under the charter of the St. Paul A
Pacific Railroad.
Annual report for the year ending June 30,1880, in V. 31, p.
281. Net
earnings $1,546,037; gross earnings $2,933,108, against $1,900,528 im
1878-9. (V. 29, p. 147, 226, 331, 460. 483, 513, 658; Y. 30, p. 67, 209,
519, 545; V. 31, p. 21, 96. 153, 248, 281, 430.)
*
■
■
'
Subscribers will confer a
great favor by giving
explanation of column
on
Sandusky Mansfield <£
1st mortgage, new
San Fi'ancisco (6
headings, Ac., see notes
first page of
tables.
Newark—Re-organized stock
North Pacific—Stock
Savannah <£ Charleston—Stock
C. & S.„ guar, by S. C
Funded int. bonds, S. & C. RR., guar,
1st mortgage,
by S. Car...
Savannah & Charleston RR
Savannah Florida <£•
West.—Consolidated 1st mort.
& Gulf RR. mortgage bonds
Southern Georgia & Florida, 1st mortgage
2d mortgage
do
do
Savannah Griffin & N.Ala.—1st mortgage
Savannah <£ Memphis—1st mortgage
Schenectady <C Duancsburg—1st M., guar. D.
2d mortgage
116
116
94
111
101
i869
.
....
A H..
$13,000 per year).
year)
Ala. & Tenn. Riv.
mort., Alabama & Tenn. River RR
General mortgage
Shamokin Valley tfePottsville—Stock
1st mortgage, gold, on road and lands
Shenango <6 Alleghany—1st mortgage
2d
....
discovered in these Tables.
Bonds—Prinei
....
1,000
1,000
144
1874
100 &c.
50
500 Ac.
....
1876
1879
....
1851
....
....
1871
1869
....
1880
1874
1878
1868
614
53
102
102
*
"
"
*
576,050
1,300,000
290,000
869,450
50
500 Ac.
500 &c.
100
lOOOAc.
2,000,000
1,000
500 &c.
500 Ac.
31, p. 230.)
Bainbridge, Ga., 237
Savannah Florida & Wcsteim.—Savannah, Ga., to
miles; branches: to Live Oak, Fla., 49 miles;
miles; other, 3 miles; total operated, 350 miles.
was
tion in 1865 of the Savannah Albany & Gulf
& Gulf under the latter name. The Atlantic A
default January 1, 1877, and receivers were
Tiie road was sold in foreclosure of the second mortgage on
1879, subject to the consolidated mortgage
to East Albany, Ga., 58
This
a consolida¬
Railroad and the Atlantic
Gulf Company made
appointed in March, 1877.
November 4,
and other prior liens
amounting to about $2,713,000. The present company has been organ¬
ized with a capital stock of $2,000,000. No reports of earnings have
Veen made for several years. (V. 29, p. 40, 250, 488, 608.)
Savannah Griffin
North Alabama.—Griffin, Ga., to Carrollton, Ga.
63 miles. Operated in connection with Central Railroad of Georgia
Capital stock, $1,010,900. In 1879-80 gross earnings were $58,860, and
7
4
874,500
1,000,000
1,000
44
200,000
600,000
300,000
7 g.
7
6
6
1,628,000
1,628,020
Tennessee
*
7
7
8
7
3
7 g.
5,000,000
....
earnings $247,398.
Savannah <6 Charleston.—Savannah, Ga., to Charleston, S. C., 106
miles; Ashley River branches, 5 miles; total, 111 miles.
Formerly the
Charleston A Savannah Railroad; reorganized in 1876 under present
name, and opened March, 1870.
Defaulted September, 1873, and
gince operated by a Receiver.
Sold in foreclosure June 7, 1880. for
$300,000, and turned over by C. P. Mitchell, Receiver, to the new com¬
pany, called the Charleston & Savannah Railroad.
(V. 30, p. 625; V.
34
7
7
210,000
791,000
230,000
1,000
ated, and net
24
1,299,600
100
Sandusky, O., to New¬
roads in 1S56. Leased
February 13, 1869, to Central Ohio Railroad, guaranteed by Baltimore
A Ohio, and new lease made February 23,1880, extending to December
1, 1926, with option to the Balt. & Ohio Company to renew for terms
of 20 years each.
Rental is $194,350 yearly till 1884; then $199,350
for 1884 and 1885; then $201,850 annually. It is operated as Lake
Erie division of the Baltimore & Ohio system.
In 1878-79 the gross
earniiurs were $639,821, and net earnings, $189,114; in 1879-80 gross
earnings, $847,221; net,,$208,853. (Vol. 29, p. 535 ; V. 30, p. 544.)
San Francisco <C- North Pacific.—San Rafael, Cal., to Cloverdale, Cal.,
78 miles, with a branch from Fulton, Cal., to Guerneville, Cal., 16 miles.
This is a consolidation of several companies. In 1876-7 (no later infor¬
mation furnished) gross earnings were $467,501 on 72 miles oper¬
6
500,000
1,000
Sandusky Mansfield & Newark— Line of road,
ark, O., 116 miles. A consolidation of several
1875-690.
500,000
2,423,000
....
28
28
32
50
50
Dakota—Dakota So., 1st M.,coup., s. f.
....
....
....
6
7
7
7
7
7
7
7
8 g.
505,000
111,800
500,000
1,666,000
300,000
464,000
200,000
Where
When
!
pal,When Due
Payable, and by I Stocks—Last
Dividend
Whom.
Payable
J.
2
7
2,303,000
3,750,000
1,000,000
1870
11
98
98
80
80
100
100
Rate per
Cent.
$1,072,000
500
100 &c.
500
500 &c.
1868
1869
1871
....
Shore Line (Conn.)—Stock
1st mortgage
Sioux City &
Sioux City & Pembina, 1st mortgage
Sioux City dc Pacific—1st mortgage
2d mortgage (government subsidy)
Outstanding
.
.
1853
1868
1869
1867
101
286
Amount
$50
1,000
58
58
63
60
(sinking fund, $5,000 per
Seaboard & Roanoke—Stock
1st mortgage
Selma Rome <£ Dalton— 1st mort.,
Date
Miles
Size, or
Par
of
of
Road. Bonds Value.
....
Sav. Albany
Schuylkill Valley—Stock
Scioto Valley—1st mort. (s. fund
immediate notice of any error
INTEREST OR DIVIDENDS.
DESCRIPTION.
For
li
TtAILHOAD STOCIaS -AJSTD KONDfe.
'
X ' >
'
December, 1880.1
J
IstN.
A J. N. Y.,
M.
M.
J.
J.
A
A
A
A
Oct. 1,
1875
July, 1902
Bk.,Sandusky, O,
Uuiou Trust Co.
S. Charleston, 1st Nat. Bk. March 1, 1877
Sept. 1, 1899
New York.
S.
Jan. 1. 1889
do
J.
July. 1897
J.
1879
N. Y., Perkins A Choate.
; >4.
A N.
A N.
A J.
A N.
A S.
A J.
A J.
A O.
A N,
A A.
A J.
A J.
A O.
A A.
A J.
A O.
A J.
A S.
A A.
A D.
J. A J.
J. A J.
M.
M.
J.
M.
M.
J.
J.
A.
M.
F.
J.
J.
A.
F.
J.
A.
J.
M.
F.
J.
v
Nov.
do
do
do
do
July 1,
May 1,
Sept. 1,
July 16,
City of Macon.
Del. A Hud. Canal
Co.
Philadelphia, Office.
N.Y., Winslow, L. A Co.
Jan.
Phil.,Townsend,W.ACo.
N. Y., Mecli. Nat. Bank.
New York, Office.
do
do
do
do
1891
1890
1924
1880
1, 1896
April 1, 1894
May 1, 1880
Aug., 1880
Jan. 1, 1872
Jan. 1, 1864
April 1. 1887
do
do
1, 1888
May 1. 1889
Aug., 1880
July, 1901
N. Y., N.Bk. of Com’rce.i April 1, 1889
N. H., Nat. N. H. Bank.j July 5, 1880
March, 1910
do
do
N. Y., Nat. Park Bank. ! Feb. 1, 1894
June l, 1908
do
do
N. Y..Nat. Park Bank.! Jan. 1, 1898
U.S. Treas., at maturity) Jan. 1, 1898
Philadelphia,Treasurer.
do
do
•
i
and the Dalton A
River Company
Jacksonville and the
consolidated under
Georgia A Alabama companies, and the three roads
the management of the now corporation. The old Alabama
oad
was rebuilt, it is claimed, at a cost of $1,000,000. and the line extended
101 miles to Dalton, Ga., at a cost of some $2,000,000.
After much liti¬
gation as to the lien of the Alabama A Tennessee River
case went to the Alabama Supreme Court, and about six weeks ago the
Court rendered its final decision, re-establishing the subjection of the
whole 172 miles of road in Alabama to the first and second mortgages
mortgage, the
of the Alabama
held, however,
Congress to aid in the
road were subject to
River Company. The Court
& Tennessee
of public lands granted by
construction of the Alabama & Tennessee River
that the 440,000 acres
Apalton mortgages as superior liens. The receivers’
made a lien on the company’s equipment.
The capital and debt of the Selma Rome & Dalton Railroad Company
are about as follows:' First mortgage, $5,000,000; second mortgage,
$3,900,000; capital stock, $4,000,000; total, $12,900,000. The Ala¬
bama A Tennessee River bondholders claim $791,000 for the outstand¬
ing first mortgage bonds, with arrearages of interest for nineteen years
and compound interest, and $230,000 second mortgage bonds, with
arrearages of interest for fifteen years. There are also outstanding
$615,837 receivers’ certificates, including interest.” (V. 30, p. 299,
323, 375, 434, 568, 589, 651.)
Shatnokin Valley <& Pottsville.—IAne of road, Sunbury, Pa., to Mount
Carmel, Pa., 27 miles; branch to Lancaster Colliery, 4 miles; total, 31
miles. The road was leased February 27, 1863, to the Northern Central
Railroad Company, with a guarantee of interest on the bonds and 6 per
cent per annum on the stock. The yearly reports will be found in the
Chronicle with the reports of the Northern Central Railroad. Thomas
A. Scott, President, Philadelphia.
the Selma Rome
certificates outstahding were
Shenango <£ Alleghany— Line
of road, Shenango, Pa., to Brady’s Bend,
Hilliard, Pa., 46 miles. The
and “ rental tru i ”
in 1879, but tin408.)
Pa., 95 miles; in operation, Shenango to
road was leased to the Atlantic & Great Western,
bonds were issued.
The company made default
October coupons were paid Feb. 21, 1880. (V. 29, p.
Shore Line (Conn.)—Line
Conn., 50 miles. Leased to
of road, NeAV Haven, Conn.,
to New London,
New York and Ncav Haven
Railroad Com
at $100,000 net per annum.
net earnings, $20,693.
Railroad; sold in foreclosure
and reorganized under present title June 29, 1864. Dividends 34 in
Savannah c£- Memphis.—From Opelika, Ala., to Goodwater, Ala., 60
Jan. and 4 in July. Operations and earnings for live years past were
miles. Opened in 1874. Receiver appointed November, 1878, in fore¬
as follows:
closure suit. Road sold June, 1880, for $834,000. Gross earnings for
Net
Div.
Freight (ton) Gross
year
ending June 30, 1878, $49,071; net earnings,
President, N. Y. City. (V.-30, p. 467, 625.)
Dickenson,
$7,357. P. P.
Junction, N. Y., to
Susquehanna
leased in per¬
Lease rental,
Schenectady & Duaneshurg.—From Quaker Street
Schenectady, N. Y., 14 miles. Formerly Schenectady A
Railroad, and was foreclosed in 1873; reorganized and
petuity to the Delaware A Hudson Canal Company.
$30,000 per year, paying 6 per cent on bonds. Stock,
$100,500.
Schuylkill Valley.—Port Carbon to Reevesdale, Pa., 11 miles; branches,
10 miles; total, 21 miles.
It is an old road, and was leased to the Phila¬
delphia A Reading Railroad from September 1,1861, at an annual rental
of oper cent on the stock. Operations are included in the Philadelphia
6 Reading reports.
Scioto Valley.—Columbus, O., to Portsmouth, O., 100 miles. Road
opened in Jan, 1878. Stock was $1,772,050 and was increased $500,000
in 1880 to build along the Ohio from Portsmouth. In 1879 gross earnings
$317,822. E. T. Mithoff, President, Columbus, O. (V. 27, p. 653;
were
28, p. 525 ; V. 31, p.
88, 445.)
Va., to Weldon, N. C.,
has paid dividends for a
Seaboard <& Roanolce.—Line of road, Portsmouth,
$0 miles. Road opened 1851. The company
number of years. Of the stock, $1,055,400
common,
7 per cent guar., and $44,200 is
guar.
•nding March, 1880,
$236,452.
-
2d
is
$200,000 is 1st
Net earnings in the year
Dalton.—From Selma, Ala., to Georgia State line. Suc¬
cessors to Alabama A Tennessee River Railroad.
The road was opened
June 1, 1870. Defaulted in 1871, and decree of foreclosure obtained
Maroh 24,1874. The line in Georgia (65 miles) was sold November, 1874,
ajid reorganized as Georgia Southern.
The line in Alabama was
Selma Rome &
sold
June 14, 1880, for $1,700,000, aud the Court held the Alabama A Tenn.1
Biver mortgages a prior lien on this, and interest is overdue on those
for 19 and 15 years respectively. An appeal was taken to the U. S.
Supreme Court, and the sale was made subject to that appeal. A second
mortgage is for $3,900,000, and the stock $4,0u0,000, and cost of
road put at $12,980,000. John Tucker, Receiver, Selma, Ala. In the
given: “In 1852
organized to
River, a
miles of the road and
partly graded 10 miles.
The Selma Rome & Dalton Company was
organized in 1868, deeds of conveyance obtained from the Alabama A
Chronicle, Y. 30, p. 434, the following account was
the Alabama & Tennessee River Railroad Company was
build a road from Selina, Ala., to Gadsden, on the Tennessee
distance of 170 miles. The company built 135
in perpetuity November 1, 1870,
Chartered as New Haven & New London
pany
Years.
Passenger
Miles.
50
50
50
50
50
-(V. 28, p. 40;
Earnings. Earnings,
1,473,634 $379,571 $108,083
Mileage.
Mileage.
.
9,684,933
8,213,330
7,870,049
7,212,083
1,265,575
1,363,500
1,426,229
342,374
317,978
299,086
349,111
49,869
101,539
143,171
154,486
p. c.
74
8
8
8
74
V. 31, p. 509.)
(Sioux City, la., to Yank
with the Sioux City A Pembina,
Both lines built in same
interest, and surplus applied to construction. Preferred stock, $600,000; common, $1,800,000,
Gross earnings in 1879, $184,170; net,
$46,305. In February, 1880, the Chicago Milwaukee & St. Paul leased
this road, but this was contested at law by John I. Blair.
(V. 28, p.
120; V. 29, p. 277; V. 30, p. 168, 314, 568.)
Sioux City & Pacific— Line of road from Sioux City, Ta., to Fremont,
Neb., 107 miles; leased—Fremont Elkhorn & Missouri Valley Railroad,
110 miles; total line operated, 217 miles. This was one of the subsidized
Pacific roads, but the interest on first mortgage bonds has not been fully
earned, and the United States Auditor of Railroad Accounts reports no
net earnings subject to the payment of 5 per cent to the United States.
For the year ending Dec. 31, 1879, the gross earnings were $470,590
and net earnings, $137,626. The capital stock is $2,068,400, of which
$169,000 is preferred, receiving a dividend of 7 per cent per annum.
The balance sheet of the company Dec. 31,1879, was as follows:
Assets.
Sioux City & Dakota.—The Dakota Southern
ton, Dakota, 61 miles,) was merged,
as the Sioux City & Dakota, Nov. 1, 1879.
Liabilities.
United States bonds...
.$1,628,320 Road and equipment....$5,351,015
36,784
1,122,350 Material
58,378
Cash
1,628,000 Company’s bds. A stocks.
5,00<>
50,460 Accounts receivable
39,106
Interest on bonds
First mortgage bonds..
Interest on bonds
Bills
payable
Pay-rolls and vouchers.
Accounts payable
Capital stock
5,000
45,724
85,681
2,068,400
Due from United States..
Deficit or debit (balance,
to income one-half)—
$6,633,935
Oliver Ames,
President, North Easton, Mass.
484.)
31, p. 46, 68,
1,033,807
$6,633,935
Total
Total
109,844
(V. 27, p. 96,
253,374: V.
lii
RAILROAD
Subscribers will confer
a
STOCKS
AND
BONDS.
[YOU XXXI.
great flavor by giving immediate notice of any error discovered In these Tables*
DESCRIPTION.
For explanation of column headings, &c., see notes
on first page of tables.
Miles
Date Size, or
of
of
Par
Road. Bonds Value.
INTEREST OR DIVIDENDS.
Amount
Outstanding
Rate per When Where Payable, and by
Cent.
Whom.
Payable
Bonds— Princi¬
pal,When Due.
Stocks—Last
Dividond.
-
Somerset— 1st mortgage,
South Carotin a—Stock
1st
gold
25
mortgage, sterling loan
242
242
242
m
1st mortgage, aollar bonds (L)
6781
2d mortgage (for $3,000,000)
Domestic bonds (I)
Domestic bonds (K)
So. d No. Alabama—1st M., endorsed by Alabama.
Sterling mort., s. fund, guar, by L. & N
Southern Central (N. I1st mortgage
2d mort. gold ($400,000 end. by Lehigh V. RR.).
1st mortgage interest bonds
2d
mortgage interest bonds
Southern Iowa d Cedar Rapids—1st mort., gold
South. Pac.(Cal.)—1st mort.,gold.land gr., cp.orreg.
Southern Pennsylvania—1st mortgage, gold
Southwestern (Ga.j—Stock, guarant’d? per annum
Company bonds, convertible into stock at par
Southwest' Pennsylvania—Stock
1st mortgage
m
•
•
•
•
.
114
114
114
87
712
24
257
....
500
100
1,000
£200
$1,000
....
42,000
1,500,000
29,520,000
625,000
....
7
7
7
7
7
6
7
g.
g.
g.
g.
3ia
1,000
] 33,000
546,150
962,000
400,000
989,000
200,000
300,000
350,000
500,000
4,010,350
1,000,000
7
1,000
100 die.
....
1878
100 &c.
*
....
....
1865
1875
30
20
20
8 g.
6 g-
3,892,300
....
1877
1876
7^
1
5 g.
6
7
7
6
....
1874
1,000
500 &c.
50
1,000
J. & J.
..
J.
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
J.
A.
A.
J.
J.
M.
F.
M.
F.
M.
M.
A.
J.
J.
O.
O.
1
London.
New York.
N. Y., Nat.
City Bank.
Charleston.
O. N. Y., C. P. Huntington.
M.
S.
J.
D. Savannah,Cent.RR. Ga.
Various
Macon.
3ia
7
7
7
5
3
7
F.
J.
J.
J.
-
&
&
&
&
•
J.
J.
F.
J.
•
•
1878 to ’88
1878 to ’88
Oct, 1, 1902
April, 1891
J. N. Y., Nat.
City Bank. 1880 and 1892
J. N. Y., Drexel, M. & Co. Jan. 1, 1890
N. London, Baring Bros.
1903
A. N. Y., Vermilye & Co.
Aug. 1, 1899
S. N. Y., Nat, City Bank.
Mar. 1, 1882
A. N. Y., Vermilye & Co.
Aug. 1, 1887
S.
do
do
Sept. 1, 1887
N.
3ia
7
7 g.
July, 1891
May, 1871
A. Pbila. and Greensburg.
J. Charleston & New York.
J.
New York.
J. N. Y., Union Trust Co.
•
& J.
<fc J.
& A.
& J.
N.Y., Company’s Office.
Now York.
N Y., Central Pacific.
Phila.,233 So. 4th St.
do
do
May 1, 1900
April 1, 1905
Mar. 1. 1900
Dec. 20. 1880
1882
Sept, 30,1879
Feb., 1917
Jan. 1. 1897
Jau., 1881
Jan. 1, 1899
1885
January, 1905
Feb. 16, 1876
Jan. 1. 1904
\
Somerset.—West Waterville, Me., to Anson, Me., 25 miles.
sion of 7 miles to Solon proposed. Capital stock,
earnings, 1878-9, $19,223
;
net, $2,808 ;
An exten¬
$377,573. Gross
1879-80, $20,098 ; net, $3,580.
South Carolina.—Charleston to Hamburg, S. C., 137 miles;
branches to
Columbia, 08 miles, and to Camden, 38 miles: total main line and
branchos, 243 miles.
A receiver took possession in
September,
at the suit of 2d mortgage bondholders; a large part of
mortgage was hypothecated at 50 cents on the dollar to
floating debt. Apian of reorganization to save foreclosure has
been made in 1880, which embraces the
following new issues:
First mortgage consol. 6 per cent
$4,500,000
Second mortgage 6 per cent
2,000,000
Income bonds, 6 per cents
2,000,000
1877,
this
secure
New stock
■
5,108,558
Total stock and bonds
To be disposed of thus—
$13,008,558
First and second mortgages
Provided for b}r first consol, mortgage bonds. .$4,100,993
Non-mortgage claims
To be canceled by 50 per cent in 2d mort. bds.
Do
30 per cent in income bonds
Do
20 per cent in com. stock
...
Floating debt
To be cancelled
Do
Do
Capital stock
$4,100,993
1,353,990
§070,995
400,197
270,798
by 50
per cent in 2d mort. bds. $450,000
30 per cent in income
270,000
20 per cent in common stock 180,000
To be
exchanged for equal amount of new
stock, 80 per cent
$4,057,760
Canceled by 20 per cent of income bonds, for
surrendered stock
1.164,440
Total of existing liabilities
Total of proposed new issues
900,000
5,822,200
Miles.
243
243
243
243
243
$12,243,183
13,608,558
1877....
3(V. 28, p. 555,580; V. 29,
V.
Gross Earnings.
$1,229,302
1,126,437
1,020,664
1,011,861
1,052,023
p. 632; V. 30, p. 43,
31, p. 153, 306, 359, 536.)
NetEarn’gs.
$448,574
478,684
426,910
371,631
337,745
358,409/494, 517, 568;
.
South d1 North Alabama—Decatur. Ala., to Montgomery. Ala., 183
miles, with a branch of 7 miles from Elmore to Wetumpka. ’The
road is
controlled by the Louisville & Nashville Railroad
[Co., which owns a
of the stock and all the 2d mort. bonds ($1,000,000).
majority
500,000
acres of land in Alabama,
largely mineral, nave been transferred to the
Louisville & Nashville Co. Common
stock, $1,461,767; preferred stock,
$2,000,000. In 1878-9 gross earnings were $873,196; operating ex¬
penses, $558,610; net, $314,586; deficit to Louisville &
Nashville Co.,
$100,285.
Southern Central (N. F.)—Fairhaven, N.
Y., to Pennsylvania State
line, 114 miles. Road forms an extension into New York State for
Lehigh Valley Railroad, which company endorses $400,000 of second
mortgage bonds. Capital stock paid in is $1,790,234. Gross
earnings in
1877-8, $462,906; operating expenses and taxes, $320,056; net earn¬
ings, $142,850. In 1878-9 gross earnings were $419,942;
net, $102,272;
$155,467; net, $149,237. (V. 28, p. 351; V. 29, p. 629.)
Southern Towad Ced. Rap ids.—In
progress. Ottumwa to Cedar Rapids.
1879-80,
gross,
Iowa.
Soiitheni Pacific of Califeyniia.—Road in
Northern Division-San Francisco, Cal., to operation October, 1880:
Soledad, 143 miles; Carnadero to Tres Pinos, 18 miles; total, 161
miles; Southern Division—
Huron to Los Angeles, 280 miles; Los
Angeles to Yuma, 249 miles•
Los Angeles to Wilmington, 22 miles;
total, 551 miles; total Southern
Pacific, 71.2 miles. At Goshen the Southern Division meets the San
Joaquin Branch of the Central Pacific, by which it reaches San
Francisco
and the main line of Central Pacific. The
projected lines are Soledad to
Lerdo Junction, 160 miles, and
Mojave Junction to Colorado River, 278
miles. It is contemplated that the Southern
Pacific will form part of a
through line to El Paso, and there meet the Texas Pacific. At its ter¬
minus at Yuma it connects with the Southern
Pacific RR.of Arizona
an independent but
closely affiliated company, which was to be
pleted by January, 1881, some 500 miles, to Florida Pass, 25 miles com¬
west
of Mesifia (about 1,250 miles from San
Fraucisco), to a junotion with
the Atchison Topeka & Santa Fe, thus
forming a new route to the Pacific
coast.
(See V. 31, p. 455.) The bonds above are in series
A, B, C and D
grant is 12,830 acres per mile, and proceeds of sales
go to pay bonds.
The total grant is estimated at 11,000,000
acres, of which 7,000,000
pertain to road now built.
Besides these sales a sinking fund of
$100,000 per annum goes into operation in 1882. Stock paid in is
$36,763,900. The Central Pacific Railroad Company has taken a lease
of the southern division of this road for a
period of not less than five
years from January, 1880, and by the. terms of the lease “if a railroad
is not completed in five
years from that date, so that there is a connec¬
tion of the Southern Pacific Railroad of California with the
Eastern sys¬
tem of railroads on wliat is known as the
thirty-second parallel line, the
lease shall be extended until such connection is
made, provided such
extension does not exceed five years longer, or ten
years in all," from
January, 1880. By the terms of the lease, “ the net rental agreed to be
paid during the continuance of this lease and any extension thereof,
shall be $250 a month, or $3,000 a
year per mile,” (being, .at present, on
about 551 miles, equa!| to about $1,650,000 annual rental),
“ and if, for
any cause, it shall be reduced by mutual consent, the rental shall be at
least sufficient to pay interest on bonds.” In 1878 the
gross earnings
were $4,327,086 and net
earnings $2,155,704. In 1879 the net earnings
were $362,761 on northern division and
$1,635,554 rental on southern
division; total, $1,998,316.
359, 428, 430, 454, 560.)
-
(Vol. 30, p. 93; V. 3JL, p. 154, 196, 248,
vania Junction to Richmond, Pa., 21 miles, with a branch from Rich¬
mond to Ore Banks, 2 miles. Leased for 199 years from March
1,1870,
to Cumberland Valley Railroad Company. Road
originally organized
under the name of Southern
Pennsylvania Iron & Railroad Company,
but was sold by foreclosure of second
reorganized under present
A decision
Years.
of which A includes $15,000,000 and
I?, C and D each $5,000,000; there
also three other series, E and F of
$5,000,000 each, and G of
$6,000,000; these latter are to be issued for new construction. Land
are
Southern Pennsylvania Railway d Mining Company.—South
Pennsyl¬
Showing surplus of new issues
$1,365,374
was obtained declaring all second
mortgage bonds valid.
The decree of sale was granted and time is to be set. See V. 30,
p. 568.
The last annual report was in the Chronicle, V.
30, p. 517. Earnings
for five years past were as follows;
,
575,050
.7 g.
100
....
30
6
29
13
5,819,275
1,482,666
1,051,500
1,206,500
1,067,500
63,500
391,000
5,075,040
1,500,000
600,000
....
Var.
....
mortgage bonds
100
Various
500
500 &c.
....
42
$450,000
1000&C.
210 &c.
210 die.
....
....
M., conv. (red’ble aft.’88)
Staten Island—1st mortgage
Sterling Mountain (N. F.)—1st mortgage
Stockton d Coppevopolis—1st mort., (guar, by C. P.)
Summit Branch (Pa.)—Stock
•
1870
1875
183
183
114
State Line d Sullivan—1st
•
$100
1868
1872
1866
1868
1870
1873
1869
1872
1877
1877
*..
Sjpuyten Duyvil d Port Morris— Stock
•
1868
•
•
Spartanburg d Asheville—1st mortgage, gold
1st
m
1871
name.
mortgage December, 1872, and
Capital stock, $800,000.
Southwestern (Georgia).—This road was farmed November 1,1868, by
consolidation of the Southwestern Railroad and the
Muscogee Railroad.
It runs from Macon, Ga., to Eufaula, 144 miles, and has 166*% miles of
branches, the main
one
being from Fort Valley to Columbus, 72 miles.
A lease was made August 1, 1869, to the Central Railroad of
Georgia,
which assumes the liabilities and guarantees 7
per cent on the stock,
but 8 per cent is to be paid if 10 per cent is paid
on Central stock.
Gross earnings in 1878-9, $751,575; operating expenses and taxes,
45,032. net, $307,623;
t443,952 ; (V. 31, p.404.) rental paid by lessee, $352,631; loss to lessee,
Southwest Pennsylvania.—Greensburg, Pa., to
Olyphant, P., 42 miles.
Opened April 1, 1873, and leased to Pennsylvania Railroad, which oper¬
ates it at cost, paying net
earnings as rental. In 1878 gross earnings
were $338,707, and net
earnings $183,401). Interest on bonds and 7 per
cent dividends on stock were paid out of net
earnings of 1879.
Spartanburg d Asheville.—Road, as projected, extends from Spartan¬
burg, S. C., to Asheville, N. C., 67 miles, of which 48 miles,
Spartanburg
to Hendersonville, are in operation. Placed in hands of receiver
Novem¬
ber, 1878. Capital stock, $1,000,000.
Spuytcn Duyvel d Port Morris—Road is 6miles in length and oonnocU
the New York Central & Hudson with the New York & Harlem.
Leased
to New York Central November 1, 1871. Rental is 7
per cent on capital
stock of $989,000. Operations are included in lessee’s returns.
State Line d Sullivan.—Monroeton, Pa., to
Berenice, Pa., 24 miles.
Originally organized as Sullivan <fc Erie Coal & RR. Co., which was sold in
foreclosure Oct. 14,1874, and a new company formed December
2,1874,
under the present name.
Stock, $1,000,000 (par $50). The mortgago
covers 5,000 acres coal lands.
In 1878 gross earnings were
$40,86r7,
and net
earnings, $29,673.
Staten Island.—Local road on Staten Island,
Stapleton to Tottensville,
13 miles. Road was purchased
by present owners in 1874, and is
operated in connection with Staten Island Ferry Company. Capital
stock, $210,000. Earnings, 1877-8—from ferry, $185,682; from rail¬
road, $67,339; total, $253,011; operating expenses, $205,777: net,
$47,234.
Interest, $23,093: surplus, $24,141.
Sterling Mountain (N. F.)—Road runs from Sterling Junction on the
Erie Railway to Lakeville 8 miles. Gross
earnings, 1877-8, $17,820;
expenses and taxes, $16,132; net, $1,688. Capital stock, $80,000.
Stockton d Copperopolis.—Present company is a
consolidation, made
November 17,1877, of the Stockton & Copperopolis and the Stockton &
Visalia. Line of road, Stockton to Oakdale, Cal., with a branch of 12
miles. Leased to Central Pacific Railroad
Company for thirty years
from December 30, 1874. By the terms of the lease the lessee
agrees to
pay principal and interest of the bonds. Capital stock, $234,500. Hie
.
previously made default July, 1874, and tho $1,000,000 Of
exchanged for the present issue guaranteed.
Summit Branch (Pa.)—This company operates the
Lykens Volley
Railroad, which extends from Millersburg, Pa,, to Williamstown, and it
has a small branch of its own to Summit Mines, % of a mile. Traffio is
almost exclusively coal. Gross earnings in 1879,
$142,090.; operating
expenses, including rents, $142,048; net, $42.
company
old bonds
were
RAILROAD STOCKS AND BONDS.
December, 1880 j
Subscribers will confer a great favor by giving
DESCRIPTION.
on
Miles
of
Date
of
Road. Bonds
first page of tables.
liii
„
immediate notlee of any error discovered in these Tables.
Size, or
Par
Value.
INTEREST OR
Amount
Outstanding
Rate per
Cent.
Bonds—Prlnci
DIVIDENDS.
pal, When Du®.
Stocks—Last
Dividend.
Where Payable, and by
Whom.
Payable
When
'
23
23
81
81
Suspension Bridge dk Erie Junction—Stock
1st mortgage
Syracuse Binghamplon dk N. F.—Stock
2d mortgage (now first)
Consol, mortgage (guar. D. L. & W.)
Syracuse Chenango dk New Tork—Funded debt
Syracuse Geneva dk Corning—1 st mortgage
1874-596.,
81
43
57
113
73
Terre Haute dk Indianapolis—Stock
1st mortgage, guar
Bonds ot 1873 (for $1,600,000)
Terre Haute dk Logansport.—Stock
let mortgage, guar, by Terre Haute & Ind’napolis
Texas dk N. Orleans of '74—1st mortg. land gr., coup
Texas dk Pacific—Stock
1st mortgage, gold, coup. (E. Div.)
2d mort., cousolv gold, coup. (E. Div.)
Income and land mort., reg. (7,600,000 acres) —
Dana scrip for int.ou inc.mort.(conv.into st’korl’d)
1st mort., gold, Rio Grande Div., $25,000 p. mile
Texas d St. Louis—First mortgage, gold
Tinga RR.—1st mortgage
Consolidated mortgage
1st mortgage, consolidated
Convertible bonds
New mortgage bonds (for $1,000,000)
mortgage-income bonds
Union Pacific-Stock
1st mortgage, gold, on
1875
1875
1875
1,000
1,000
1,000
1880
1880
1880
1852
1876
....
1880
1880
....
1874
.
1,000
1,000
....
....
....
....
....
100
1,000
500 &c.
800,000
500,000
500,000
1,050,000
7,902,500
3,481,000
7,619,000
8,177,000
1,552,570
5,000,000
1,040,000
239,500
125,000
265,000
1,547,662
2,250,000
2,250,000
1,609,000
1,384,000
650,000
7
7
2
7
7
7
7
4
7
7
J. N. Y. Lake Erie & West.
D. N.Y., D L.&W.RR. Co.
do
do
D.
do
do
O.
A. Syracuse Savings Bank.
&
&
&
&
&
J.
J.
J.
A.
F.
N.Y.,Farmers’ L.<fc T.Co.
Aug., 1889
June, 1887
1, 1906
Aug. 1, 1907
Nov. 15,1905
Oct.
July, 1880
July. 1879
J. & J.jN.Y.,Farmers L.&T.Co.
do
A. & O.
do
1893
....
1910
6
7
J. & J. N. Y., Farmers’L.& T.Co.
F. & A. New York, Co.’s Office.
6 g.
6 g.
7
M. & S. Phila., N.York &London March 1, 1905
do
do
June 1, 1905
I. & D.
July. New YorkA: Philad’phia Jan. 1. 1915
6 g.
6 g7
7
7
F. & A. New York & Philad’phia
N. Y., St. L. <fc I. Mt.
J. & D.
M. & N. N.Y., Bk. of N. America.
6
6
2
7
J.
Aug. 1. 1905
....
-
....
F. & A. Troy, Company’s Office.
J. & J. N. Y., Nat. B’k of Com.
M. & S.
do
do
7
1939
1910
May 1. 1882
Nov. 1, 1896
Oct. 1, 1905
Jan. 1, 1919
1910
Fob. 2, 1880
1894
1882
New York.
& J.
Feb. 1,
June 1,
1878
2%
....
74
1,038
....
...
60
1,825
Suspension Bridge d Erie Junction.—East Buffalo
*50
.
270,000
1,750,000
261,400
1,000,000
1,988,150
800,000
1,000
1,000
....
1876
....
....
road and equipment
50
1875
....
Troy Union—1st mortgage, guarantee#., Troy City.
Tyrone dk Clearfield—Stock
Ulster dk Delaware—1st mortgage
2d
....
1879
285
285
53
35
Troy & Boston—Stock
50 &c.
1,000
....
income bonds, non-cumulative
1,000
1869
1873
600
130
54
54
..
1,000
....
93
106
650
444
444
444
$500,000
1,000.000
2,004,000
100
1875
....
Extension bonds.
Toledo Canada Southern dk Detroit—Stock
Toledo Delphos dk Burlington—1st mortgage
2d mort.,
....
1875
1867
1876
1877
$....
1,000
....
1866-9
1,000
1,000
100
1,000
Junction to Niagara
Falls and Suspension Bridge, 23 4 miles. Road opened January, 1871.
It is leased to New York Lake Erie & Western Railroad Co. at 30 per
cent of gross receipts, which are guaranteed to bo not less
per annum. Lessees own all stock except 297 shares.
than $105,000
6
680,000
1,000,000
136,000
1,342,600
50,762,300
27,231,000
.
3*3
7
7
.
,
1^
J.
J.
.
.
& J.
& J.
Q.-J.
6 g.
J.
& J.
Rondout,
do
do
Passenger
Net
Earnings.
Earnings.
$2,043,453
$538,329
2,331,310
2,136,143
2.589,220
708,138
544,916
.
.
...
1, 1881
1896 to 1899
Gross
Freight (ton)
.
...
Jan.
New York and Boston.
do
do
Miles.
Years.
Mileage.
Mileage.
1876 -7
415
43,369,881
13,886,499
1877-8
444
51,022,434
15,004,800
1878-9
444
50,723,818
11,651,044
444
1879-80
66.446,382
11,438,607
The income account was as follows:
1876-77.
1877-78,
Total net income...
Disburse m e n ts—
Iuterest on debt....
1906
Office.
Co.’s
.
Syracuse Binglmmpton dk New York.—From Gcddes, N. Y., to Binghampton, N. Y., 81 miles. Chartered as Syracuse & Binghampton and
opened October 23, 1854; foreclosed and reorganized April 30, 1857,
sind leased to Delaware Lackawanna & Western.
In the last year
reported—ending September 30,1880, the gross receipts were $869,154 ;
road expenses, $546,819; net $322,335; interest on bonds, $141,400.
—(Y, 27, p. 568.)
Feb. 15,1889
Phila., 233 South 4tli.
^
1,045,703
1879-80.
1878-79.
$
538,329
$
708,138
557,867
658,049
$
$
544,916
656,370
Sinking fund
*
*
*
*
*
1,045,703
663,129
69,620
*
Balance
def.19,538 sur.50,089 def.111,454 sur.312,963
Syracuse Chenango dk New York.—Syracuse, N. Y., to Earlville, N. Y.,
43^ miles. The Syracuse & Chenango Valley Railroad was sold in fore¬ —(V. 29, p. 171, 299, 358, 564, 621, 632, 650; V. 30, p. 17, 43, 118, 274.
closure and a new company organized March 14,1873, under the name 358, 409, 567, 675 ; V. 31, p. 61, 06, 177, 205, 248, 359.)
of Syracuse & Chenango Railroad. April 15,1877, road wsis again sold
Texas d St. Lonis.—Narrow gauge road. Texarkana to Waco, 250
in foreclosure aud present company organized, which also became miles, of which 130 miles was completed Sept., 1880. Land grant is
embarrassed and passed into the hands of Mr. James J. Belden, January, 102,400 acres for each 10 miles of finished road, except on one section
1879, as receiver. Capital stock, $801,400. In 1878-9 gross earnings of 36 miles, where only 51,200 acres are received, (V. 31. p. 321, 536.)
were $72,278; net, $3,764; in 1879-80, gross $83,133.
(V. 28, p. 44.)
Tioga—Amot, Pa., to State line New York, 44 miles; branch, Blossburg, Pa., to Morris’ Rim, Pa., 4 miles; leased, Elmira State Line Rail¬
Syracuse Geneva dk Corning—Corning, N. Y., to Geneva, N. Y., 57*4 road, State line New York to N. C. Railway Junction, 7 miles; total, 55
miles. This road was opened December 10, 1877, and is leased to the
miles. The stock is $580,900. In 1879-80 gross earnings were $393,766
Fall Brook Coal Company. Stock is $1,152,500. In 1878-9 gross earn¬
aud net earnings, $103,448. F. N. Drake, President, Corning, N. Y.
were $349,966; operating expenses, $223,546; net, $126,420;
ings
Toledo Canada Southern dk Detroit.- -Toledo, Ohio, to Detroit (G.
rental paid by lessee, $108,033; profit to lessee, $18,387. (V. 29, p.
T. Junction), Mich., 55 miles. Road opened September 1, 1873. In
629.)
1879 gross earnings were $416,544; operating expenses, $461,498;
Terre Haute dk Indianapolis.—From Indianapolis to Illinois State Line, deficit, $44,954. The bonds were exchanged into Canada Southern first
80 miles, with coal branches, 34 miles; total, 114 miles.
The road was mortgage bonds at 70 per cent of face value.
Toledo Delphos d Burlington—Bond from Toledo to Kokomo, Ind., 185
opened in 1852 (as Terre Haute & Richmond), and has been one of the
best of Western roads. The company leases and operates the St. Louis miles; branch, Delphos to Dayton, O., 100 miles. Of the first mortgage
VandaJtia & Terre Haute Road on joint account with the Pittsburg bonds, $1,250,000 are secured on the 185 miles and $1,000,000 on the
Cincinnati & St. Louis Railroad, at 30 per cent of gross earnings, but 100 miles, and the second mortgage similarly. Extension to St. Louis is
guarantees the first and second mortgage bonds. Earnings for five years in progress under name of Toledo. Cincinnati & St. Louis Railroad. (V.
...
past were as follows:
Miles.
114
114
114
114
114
Years.
*
Eleven months
Gross
Net
Earnings.
Earnings.
$371,713
355,955
344,403
*366,666
404,370
$1,092,007
1,076,965
1,026,028
*893,792
1,082,373
only.
Div.
p. c.
10
10
6 Net earnings in 1878-79, $288,519; interest, $190,836; rentals. $27,537;
8 hire of cars, $8,153. Total charges, $226,526. Balance to surplus,
8 $61,992. The floating debt Sept. 30, 1879, was $380,648, against
$436,022 in 1878. Operations and earnings for five years past were a«
follows;
Terre Haute dk Logansport.—Road extends from
Rockville. Formerly Logansport Craw fords ville &
Logansport, Ind., to
Southwestern, which
sold in foreclosure September 10, 1879, and reorganized under
present name. Rockville extension of the Evansville & Terre Haute
Railroad, Rockville to Terre Haute, is operated under lease. Leased by
Terre Haute & Indianapolis Railroad for 25 per cent of gross earnings,
and first mortgage bonds guaranteed by that company. Gross earnings,
was
January to July, 1879, $113,062.
(V. 29, p. 252, 277, 459, 564.)
Orleans (of 1874).—Houston, Tex., to Orange (Sabine
River), 108 miles. This was a reorganization, 1874, of the ola Texas &
New Orleans Railroad. It will soon be extended, completing an all-rail
route from New Orleans to Houston. The stock is $3,000,000. Gross
earnings in 1878 were $220,137; net, $94,284. John T. Terry, Presi¬
dent, New York, N. Y.
Texas dk New
Texas dk
Pacific.— Line of road, Marshall to Fort
Worth, Texas, 180
miles; Marshall to Shreveport, La., 40 miles; Marshall to Texarkana
Junction, 69 miles; Texarkana to Sherman, Texas, 155 miles. Total
length, 444 miles. It was built under act of Congress of March 3,1871,
ana otner acts in 1872 to '74, and the laws of Texas.
This company suc¬
El Paso & Pacific Railroad and other
January, 1880, with Pacific Railway
Improvement Company, the road is to be extended to El Paso on the
Rio Grande, about 600 miles, to meet the Southern Pacific of California,
at $25,000 in bonds and $20,000 in stock per mile of road, and the
work completed by January 1,1883. (See Chronicle, Y. 29, p. 650.)
The stock authorized is $50,000,000, and issued $7,902,500, or which
61,734 shares were held in trust till Oct. 1,1880, when stock was issued
in redemption of certificates.
From the State ot Texas the company
has already received 4,851,702 acres of land, There were also 1,000
certificates for 640,000 acres deposited in trust for certain foreign claim¬
ants. The railroad lands in Texas, however, do not lie adjacent to the
line of the roads owning them.
The land grant by acts of Congress
were 20 sections per mile in California and 40 sections per mile in the
Territories between Texas and California.
The acts of Congress in
regard to this road made conditions as to time of construction, &o.
See full statement as to lands in V. 31, p. 178. The last annual report
was published in the Chronicle ot Aug. 14,1880. on page 177.
Opera¬
tions and earnings for four years past, ending May 31, were as follows:
ceeded to the right of the Memphis
companies. By a contract made in
31, p. 330, 653.)
Trov d Boston.—From Troy, N. Y., to Vermont State line, 35 miles;
Southern Vermont (leased), 6 miles; Troy & Boston (leased), to North
Adams, Mass.. 7 miles; Troy & Bennington (leased), 5 miles; total oper¬
ated, 53 miles. Last annual report in the Chronicle, V. 30, p. 168.
Passenger
Years.
1874-5..
1875-6..
1876-7..
1877-8..
1878-9..
..
..
..
..
..
Miles.
53
Mileage.
Gross
Freight (ton)
Earnings.
Mileage.
6,724,679 $524,276
4,696,351
13,908,977
5,605,546
16,853,882
53
6,660,492
23,829,494
53
6,492,660
30,501,683
46
6,112,538
119; V. 30, p. 168.)
53
-(V. 28, p.
Troy Union.—A.
566,540
560,764
560,344
593,896
Div’d
Net
Earnings, p ot
4
4
$247,643
268,206
276,614
274,747
288,519
4
2
.
„
small road in Troy City, extending from Hoosiok Street
Owned jointly by several
issued by the City of Troy,
and are guaranteed by the companies interested.
Tyrone dk Clearfield—East Tyrone, Pa., to Curwensville, Pa., 44 miles;
branches, 17 miles; total, 61 miles.
This company was organized
April 1,1867, after sale in foreclosure. Road completed in 1872. It
was leased to the Pennsylvania Railroad in 1878; rental was $73,500.
Bridge to Troy & Greenbusb RR., 2*4 miles.
roads. Capital stock, $30,000. Bonds were
G. B.
Roberts, President, Philadelphia, Pa.
Ulster dk Delaware.—Rondout (Hudson River), N. Y., to Stamford, N. Y.,
74 miles. This was the Rondout & Oswego in 1876; reorganized May
28,1872, as New York Kingston & Syracuse, and again, after foreclosure.
May 1,1875, as Ulster & Delaware. The stock is $1,152,100. In 1877-8
the gross earnings were $168,157; net earnings, $31,658. Thos. Cornell
is President, Rondout, N. Y.
Union Pacific Railway.—This was a consolidation, January 24,1880,
of the Union Paciflo Railroad, the Kansas Paoiflc and Denver Paoffio,
1862 and
three com¬
panies, but their bonds remained unchanged. (See Chronicle, V. 30, p.
118.) The Union Paciflo was from Omaha, Neb., to Ogden, Utah, 1,034
miles; bridge and approaches to Council Bluffs, 3 miles; Ogden to
Central Pacific Junction, 5 miles; total, 1,042 miles. The roads consoli¬
mado under
July 2,1864.
authority of the aots of Congress of July 1,
New stock was issued for the old stock of the
dated were as follows;
Union Paciflo Railroad—Counoil Bluffs to
1,042 miles; Kansas Paoiflc
Ogden,
Railway—Kansas City to Denver, 639 miles,
Wyandotte Branch, 2 miles, Leavenworth Branch, 34 miles, Enterprise
Branch, 2 miles, total, 677 miles; Denver Pacific—Denver to Cheyenne^
106 miles; total, 1,825 miles. Branch roads were owned in part, or con¬
trolled by the new corporation, to the extent of 1,597 miles. The company,
under acts of Congress above-named, took a land
per mile, estimated at a total of 12,083,227 aores,
grant of 12,800 acre*
and a subsidy in U. ft*.
STOCKS
RAILROAD
liv
Subscribers will confer a great favor by giving
DESCRIPTION.
For
explanation of column headings, Ac., see notes
on first page of tables.
Miles
Date
of
of
Road. Bonds
AND
BONDS.
[Vou XXXI.
immediate notice of any error discovered in these Tables.
INTEREST OR DIVIDENDS.
Size,
or
Par
Value.
Amount
Rate per
Cent.
Outstanding
I;
Where Payable, and byi
Whom.
Payable
When
Stocks—Last
Dividend.
1
Union Paciflc—( Contin tied)—
2d mortgage currency (government subsidy).... 1,038 1866-9 $1,000
1874
do
on road (2d on land), sinking fund.. 1,038
3d
1867-9
1,000
Land grant bonds on 10,514,789 acres
1871
£200
Omaha bridge bds, st’g, (s.f. about $65,000 yrly).
1879
Collateral Trust bonds
1,000
106
1869
Denver Pacific, 1st mortgage, gold, laud grant...
1,000
1879
1,000
Kans. Pac..,eons. M..,g.(for $30,00O/H)0),cp.or rg.
140
1865
do
1st M.. g, cp., on 140m. west M o. Riv.
1,000
253
1866
do
1st mort., gold, 140th to 393d mile...
1,000
394 1865-7
do
2d M.(to U.S. Gov.) on 394m.W. Mo.R.
245
1869
do 1st,394th to 639th in., l.g., 3,000,000 acs
1,000
34
1866
do
1st mort., coup., (Leavenworth Br.)..
1,000
$27,236,512
578781
....
....
Income bds, coup., 3d M.on 427 miles,
1st land bds.cp.or rg.,g.,on 2,000,000 acs
2d land
do
do
do
427
Union Pacific, Central Branch—1st mort., gold —
Funded interest bonds (coupons held in trust).
2d mortgage (government subsidy)
United N. J. RR. & Canal Companies—Stock
General mortgage, gold, coupon
United Co.’s mortgage, sinking fund, registered.,
100
do
do
do
I
..
do
do
do
do
100
!
1,000
1871
i 1871
1
do
....
1871
1871
1871
1878
I
Joint Co.’s plain bonds
do
do
do
consol, mort. (sink’g fund after 1880)
N. J. RR. & T. Co., 3d loan due State of N. J
Utah Central—Stock
1st
1,000
1,000
1,000
1,000
1’66-7-8
100
379
sterling loan mortgage, sinking fund
do
d©
do
dollar loan, mortgage
loan, reg
50 Ac.
250 Ac.
1866
1870
1871
1866
1879
....
....
....
....
....
....
•
•
....
•
1862
1868
....
....
....
mortgage, gold..
...
2j 1870
1,000
!
bonds of $27,236,512. The interest and principal of this loan is to
be paid according to the “Thurman Act,” which requires 25 per cent
of the net earnings, after deducting interest on the first mortgage
bonds, to be paid annually to the Government as follows: First-
Applied directly to interest account, one-lialf of Government earnings.
Second—To be placed in the sinking fund—the other half of the Govern¬
ment earnings; five per cent of net earnings, after deducting interest on
first mortgage bonds; so much of $850,000 as may be necessary to
make 25 per cent of net earnings. The annual report for 1879 was pub¬
lished in V. :-0, p. 270. This company’s reports have not been accom¬
panied by a balance sheet, but in the report of the U. S. Auditor of Rail¬
road Accounts, the following is given as of June 30, 1880:
•
ASSETS JUNE
LIABILITIES JUNE
30, 1880.
$
Funded debt—
First mortgage
U. S. subsiily
Other bonds
......
44,762,000
33,539,512
...
..
,
-
.
527,000
7 g.
6
6
6
6
6
7
7
7
7
6
12,155,000
2,240,000
4,063,000
A J. U.S. Treas., at maturity.
A S. New York and Boston.
A O. New York and Boston.
A O. London, L. A S. Fr. Bk.
A J. N. Y., Union Trust Co.
A
A
A
A
N. N.
N.
A.
D.
1896 to 1899
Sept. 1, 1893
1887
April, 1896
July 1, 1908
Y., Bk. of Commerce. May 1, 1899
do
do
do
do
do
do
May 1, 1919
Aug. 1, 1895
June 1, 1896
1895 to ’97
A N. N. Y., Loud. A Frankf’t. May 1, 1899
A N. N. Y., Bk of Commerce. Jan
1, 1896
do
do
A S.
July 1, 1916
A J. N. Y., Loud. A Frankf’t. July 1, 1886
g.
A S.
New York.
Sept., 1886
g.
A N. N. Y., Company’s Office. May 1, 18957 g.
A N. N. Y., Hanover Bank.
6
U.S. Treas., at maturity. 1896,’97, ’98
2*3
Q.-J. Phila. and N. Y. Offices. Jan. 10, 1861
Mch. 1, 1901
6 g. M. A S.
Philadelphia, Offioe.
do
do
Oct. 1, 1894
6
A. A O.
Mch. 1, 1894
6 g. M. A S.
London.
do
Mch. 1, 1894
6 g. M. A S.
Feb. 1, 1888
F. A A.
6
Philadelphia.
do
!M. A S.
6
Sept. 1, 1908
Feb. 1, 1883
6
IF. A A.
Philadelphia Office.
Jan. 1, 1889
6
IJ. A D.
Princeton, N. J.
Nov. 1, 1889
6
iM. A N.
Philadelphia Office.
Overdue.
7
I A. A O. N. Y., B’k of Commerce.
12 p.c., 1878-93
Q.-J.
6,303,000
6,379,000
492,000
1,124,150
1,460,000
350,000
1,600,000
187659.
gg.
g.
J.
M.
A.
A.
J.
M.
M.
F.
J.
640,000
1,600,000
20,190,400
Payable *3 by transportation.
g.
M.
M.
M.
J.
M.
M.
M.
'
•
5,669,000
2,000,000
1,846,000
1,800,000
154,000
841,000
1,700,000
866,000
5,000,000
100,000
1,500,000
1,000,000
•
.
•
6g. j. & j.
N. Y., Kountze Bros.
Jan.
1, 1890
i
of interest collected on hypothecated bonds—say $22,000 per
a sinking fund to reduce the principal.
The Kans.as Pacific extended from Kansas City, Mo., to Denver. Col.,
639 miles, with Leavenworth Branch, Lawrence to Leavenworth, 34
miles. It was organized as “ Leavenworth Pawnee A Western” in 1861,
then changed to “ Union Pacific, Eastern Division,” June 6, 1863, and to
“
Kansas Pacific” on March 3, .1869. The Pacific Railroad acts of 1862
and 1864 applied to this road, and gave it a subsidy of $6,303,000 and a
land grant of about 6,000,000 acres. The lands mortgaged were put in
two trusts, 2,000,000 acres in the first, from the first to the 380th mile,
The
excess
year—forms
westward, covered by the first and second land mortgages, and from
of these lands there are $1,095,679 land
acres in the second
grant, from the 380tli
notes held.
sales
The 3,000,000
mile westward, are covered
The second land grant mortgage,
by the Denver Division mortgage.
with various other bondsi are taken up with the general consolidated
mortgage of May 1,1879, which covers road andlands, and the trustees of
Equipment
11,000,000
Stocks and bonds. Ac.—
44,386,100 that mortgage (Jay Gould and Russell Sage) made a full statement in
Funding certificates. 2,355,410 July, 1880, regarding the bonds retired and’ the seourity held for this
Company’s own
1,431,893
mortgage. (See Chronicle of August 28, 1880, p. 230.) In funding
Stock of other cos.. Ufioionft Other debt—
other bonds into the consolidated mortgage, the old Kansas Pacific
Bills payable
Bonds of other cos. 5
3,105,226 securities are
exchanged at par, except as -follows: The “funding
Accounts payable
Other assets—
1,974,519
Bonds payable
Cash
1,684,957
16,000 mortgage” bonds get nothing for 5 over-due coupons; Leavenworth
branch and unstamped incomes at 50 per cent and nothing for over-duo
Interest payable
Bills receivable
77,482
1,163,403
Dividends payable
Accounts receivable.
6,058,949
699,630 interest; stamped incomes at 30 per cent; second land grant at 50 per
Interest accrued
int. payable cent. The interest on Denver Extension bonds (sevens due May 1,
United States
13,211,657
Interest due U. S
Land contracts
25,050,071 1899) was reduced to 6 per cent. Kansas Pacific operations and earn¬
5,506,726
Trust funds
Total assets
553,293 ings for four years past were as follows:
208,583,835
Material on hand
1,860,467 Capital stock
50,762,300
Passenger
Freight (ton)
Gross
Net
Years.
Miles.
Unsold lands (estim’d) 15,000,000
Mileage.
Mileage.
Earnings.
Earnings.
Total liabilities.... 208,427,464
672
19,292,049
72,119,554 $3,363,760 $1,572,881
672
Total assets
71,540,034
3,000,800
225,444,302
18,232,525
1,217,982
672
18,936,167
85,393,211
3,284,734
1,367,777
The securities held at close of the year 1879, amounted to $7,900,000
672
22,173,135 140,013,144
3,610,224
1,198,662
bonds and $8,669,400 stocks, given in the report as follows: Bonds—
The Denver Pacific—Denver to Cheyenne, 106 miles—was built under
Colorado Central, $2,413,000; Utah Southern and extension, $900,000;
Utah & Northern, $2,722,000; Omaha & Republican Valley, $900,000; the charter of the Union Pacific, E. D. (Kansas Pacific), and opened
Summit County, $134,500; St. Louis Council Bluffs & Omaha, $19,500; January 1,1871. The Denver & Boulder Valley was opened under a 99
Wasatch & Jordan Valley, $10,000; Omaha Bridge bonds, $5,000; year lease from 1873. The company made default, and a receiver was
Omaha Niobrara & Black Hills, $480,000; Utah Western, $16,000; appointed April 4,1878. The stock of $4,000,000 went into this consoli:
Marysville & Blue Valley, $300,000. Stocks—Colorado Central, $3,759,- dation January 24, 1880, and the bonds are to be retired with the con¬
200; Utah Southern, $837,000; Utah Central, $530,000 ; Utah Northern, solidated mortgage of the Kansas Pacific. (V. 28, p. 18, 44, 69, 70,121,
$2,330,000; Summit County, $338,100; Union Pacific, $275,100; 147. 199, 252, 275, 328, 429, 453, 477, 495, 503, 555, 578, 599, 624;
Omaha & Republican Valley, $450,000; Occidental & Oriental Steam- V. 29, p. 67, 95, 196, 405, 434, 513,657; V. 30, p. 17, 93, 118,163,
•hip Co., $150,000.
169, 270, 345, 545; V. 31, p. 46, 68, 88, 154, 171, 196, 230, 347, 383,
The land department reports the following sales since 1869:
511, 558.)
Road, Ac—
Railroad
.
30, 1880.
$
143,393,035
3,632,000
6
8
7
8 g.
6
15,292,000
6,299,000
2,121,000
Niunber of
Acres.
Years.
1869
1870
1871
1872
128,825-28
164,058-32
206,605-97
172,108*67
177,083-50
235,74914
111,965-55
128,696-21
69,015-87
318,903-47
243,337*43
,
1873
1874
1875
1876
1877
1878
1879
1,956,349-41
Av. Price
3
4
5
4
3
3
4
4
4
85*3
39
55
66
66
02
98
88
14*10
$4 42
The income account was as below in 1879.
Net earnings
Add interest collected on investment securities
Total receipts
Amount.
Acre.
$4 5512
4 38*3
per
$586,808 29
717,757 14
'
795,557
755,430
983,030
1,099,407
409,916
389,773
343,768
1,557,082
1,007,855
53
94
33
21
10
46
02
32
63
on
bonds
Dividends, 6 per cent
Sinking funds
Government earnings retained
of the roads embraced in the act of Congress incorporating the
Union Pacific Railroad. The stock is $1,000,000, of which the Union
Pacific holds about $900,000. The company received a Government
subsidy of $1,600,000. Default on interest was made May 1,1873, but
no foreclosure took place.
In 1879 the earnings on 224 miles were
reported at $1,000,000; operating expenses, $477,862; net earnings,
$522,138. (V. 28, p. 454, 477, 553; V. 29, p. 95, 356; V. 30, p. 163,
was one
221; V. 31, p.46,68.)
152*3 miles; Trenton to Manunka Chuuk and branches, 103 miles; total
operated, 379 miles. Delaware & Raritan Canal, 66 miles. The United
New Jersey Railroad A Canal Companies were leased in May, 1871, to the
Pennsylvania Railroad for 199 years, at a rental of 10 per cent on the
423,014
$8,148,588
stock, besides interest on bonds.
$3,390,595
2,204,700
207,444
1,149,688
128,032,924
107,833,371
96,304,250
4lreot obligation of the Union Pacific Company, and have as their security
the first mortgage bonds of the roads named pledged with the trustees.
guaranteed by U. P. company. The Union Pacific
formerly the Atchison & Pike’s Peak Railroad, and
$7,725,574
292,002,076
12,886,858
7,618,647 8
334,644,870
12,473,203
7,199,782 8
366,014,080
12,873,658
7,497,072 5*2
436,054,149
13,201,077
7,725,574 6
Of the Union' Pacific collateral trust bonds, the issue is limited to 80 per
«ent of the following bonds: Omaha A Republican Valley RR, $850,000;
Colorado Central Railroad bonds, $2,526,000; Utah Northern Railroad,
About $3,480,000; total, $6,856,000. The collateral trust bonds are a
1877.. 1,042
1878.. 1,042
1879.. 1,042
of the extension are
Central Branch was
United New Jersey RR. <6 Canal Companies.—Lines of road, New York
to Philadelphia and branches, 123 miles; Camden to Amboy and branches,
Total deductions from earnings
$6,952,427
Surplus
$1,196,161
Operations and earnings for five years past were as follows:
Passenger Freight (ton)
Gross
Net
Div.
Years. Miles.
Mileage.
Mileage.
Earnings, p.ct.
Earnings.
1875.. 1,042 132,591,343 269,414,989 $11,993,832 $7,011,784 3*2
1876.. 1,042
Pacific, Central Branch—From Atchison, Kan., to Watcrville,
Kan., 100 miles; and has an extension under the name of Atchison Colo¬
rado & Pacific of 229 miles, making 329 miles in all, and the bonds
$8,648,447 97
Disbursem en is—
Interest
Union
.
with their several contracts.
The smaller leased roads were token
The Belvidere Delaware
was
leased to the
Pennsylvania Railroad March 7,1876, and since January 1,1877, has
been operated as the Belvidere Division of United New Jersey Railroad
system. The net earnings are paid over to the lessors in full as rental.
The lease has not been profitable in cash receipts to the Pennsylvania
Railroad, as the net loss in 1877 was $1,482,518 and in 1878 $1,138,775; but the connection with New York was indispensable to the Penn¬
sylvania Railroad, and it is only a question whether it might not have
been secured at much less cost. Operations and earnings for five years
past were as follows :
Dir
Passenger Freight (ton)
Gross
Net
Years. Miles.
Mileage.
Mileage.
Earnings.
Earnings. p. et.
293 162,225,745 187,699,616 $9,711,284 $3,275,807
10
10
293 302,188,535 190,635,678 11,824,133
5,074,017
373
373
373
143,132,968
139,245,413
256,134,099
255,027,095
8,960,6.97
8,398,534
146,914,158
332,298,977
9,784,843
Utah Central—From
2,694,480
2,895,592
3,283,981
10
10
10
Ogden, Utah, to Salt Lake City, Utah, 36*3miles.
ending April 30,1879, gross earnings were $392,524; opera¬
ting expenses (43-01 per cent), $168,798; net earnings, $223,725;.
interest, $62,290; dividends on stock, $180,000.
For the year
Subscribers will confer a
s
on
first page of
tables.
Utcfi Northern— 1st mortgage
Utah <& Pleasant Valley— 1st mortgage, gold.
Utah Southern—1st mortgage, coupon
General mortgage (tor $1,950,000) —
Utah Western—1st mortgage
Utica <£ Black River— Stock
Mortgage bonds
Black River & Morristown, 1st mortgage
Clayton A Theresa, 1st mortgage
Utica Chenango <& Susquehanna Valley—Stock...
Binghamton—1st mortgage
Talley (N. Y.)- Stock
Utica Clinton &
Vermont & Canada—Stook
Bonds, guaranteed by Vermont
1875-960.
Mortgage bonds.
Missiiquoi Railroad bonds
Vermont Central— 1st mortgage,
2d
mortgage,
consolidated.."
1,000
900.000
1871
1,000
1,500,000
1879
1874
1,000
450.000
100
180
87
36
16
98
31
11
73
$1,000
1,772,000
1871
m
®
Equipment loans
float’g debt).
Massachusetts—Stock
1st mortgage (sinking fund $7,000 per year)
Convertible bonds
'.
Vicksburg & Meridian— 1st series (red endorsed)
Vermont A
59
77
m-m
....
Special loan, funding mortgage
Dock
Virginia d- Truckee— Sl
«
O
a
m
-
...
•
m
•
•
•
500 Ac.
1879
1871
....
500 Ac.
100 Ac.
1866
100 Ao.
1866
1 $66-9 500 Ac.
100 Ac.
l867
1872
1,000
100
100 Ac.
1865
1,000
1,000
100 Ac.
100 Ac.
...»
....
Utah, north into Idaho
Territory. Two hundred and seventy-five miles built March, 1880. The
road was sold in foreclosure! March 28, 1878.
Transferred to present
company May 1, 1878.
Stock, $2,520,000. The road is mainly owned
and built by "the Union Pacific. For the year 1879 the gross earnings
from Ogden,
Utah <6 Northern— In progress
were
$532,676; net, $262,277.
Utah, to Pleasant Val¬
Stock, $750,000. Bonds sold
163.)
Utah <6 Pleasant Valley.—Line of road Provo,
ley. Utah, 60 miles. Road opened in 1879.
in New York in 1880.
(V. 29, p. 539; V. 30, p.
Stock,
Southern,—Salt Lake City to York, Utah, 75 miles.
$1,125,000; gross earnings in 1878, $247,725; net earnings,
Bonded interest, $105,000. (V. 31, p. 429.)
Utah
$117,534
Utah Western.—Salt Lake City, U. T., to Stockton, U. T., 40 miles
Opened January, 1875. Default was made January 1,
road was held by trustees for the bondholders, and was be
Nov. 3, 1880, according to a plan of re-organization advertised
F.
1878, and the
foreclosed
by E
Conn., and R. M. Bassett, trustees for the bond
Bishop, Bridgeport,
(V. 30, p. 651;
holders.
V. 31, p. 154,
536.)
Y., to Philadelphia, N. Y..
to Ogdensburg, to Sackett’s
operated, 180 miles. The
oompany has paid its rentals and moderate dividends for a number
of years. The general account, September 30,1880, was as follows,
Utica (£ Black River.—Main line, Utica, N.
87 miles; leased lines to Morristown, N. Y.,
Harbor and to Clayton, 93 miles in all; total
condensed:
Stock,...
Bonds
$1,772,000
1,112,000
;
Sundry accounts and
Surplus fund
55,225
288,682
balances
$3,227,907
Total
Road and equipment.
Leased lines, stocks, bonds
$2,808,048
308,762
and advances
* 7,368
103,727—$3,227,907
$326,822
Sundry accounts
Cash.
Account:
Net income, all sources
Income
$77,840
70,218
Interest
Rentals
70,832— 218,890
Dividend, 4 per cent
$107,931
180,750
Surplus, Sept. 30, 1880
• $288,682
The surplus is chiefly represented by advances to leased lines. It was
deemed best to retain the cash part of it to meet emergencies, instead of
increasing dividend. The Ogdensburg extension is doing well, and
promises to be a good investment. Operations and earnings for five
Balance, surplus
Add surplus, Sept. 30,
years
1879
past were as follows:
Years.
Passenger
Miles.
170
170
170
180
.
Mileage.
5,792,703
5,336,245
5,266,280
5,221,906
Net
Div.
Gross
Freight (ton)
Earnings. Earnings, p. ct
Mileage.
5,150,374
5,065,167
5,205,965
6,062,017
ISO
—(V. 28, p. 96; V.
$481,673
$194,301
453,576
453,145
475,508
590,760
315,771
'
Bingham ton.—Utica, N. Y., to Smith’s Valley, N. Y.,
June 22, 1872, and leased to New York & Oswego
Midland Railroad. The lease was transferred to the Delaware A Hudson
Canal Co., which pays the rental of $75,000 per annum. The road is
operated by the Delaware Lackawanna A Western. Gross earnings
1879-80, $82,553; net earnings, $30,727.
O. S. Williams, President,
Utica Clinton <6
31 miles. Opened
in
(Hinton. N. Y.
of Penn¬
Lacka¬
Talley (N. F.) Railroad.—Binghamton, N. Y., to State line
sylvania. 12 miles. Opened October, 1871. Leased to Delaware
wanna A Western.
Gross earnings in 1879-80, $284,641; net earnings,
J167,121. Dividends paid, 60,000. Moses Taylor, President, New York
Vt., to Rouse’s Point,
217,400
6,000,000
1,101,000
1904
•
•
.
A
A
A
A
A
A
A
»
6
7
7
7
7
7
8
J.
J.
A.
J.
M.
J.
M.
J.
M.
A.
J.
J.
J.
J.
J.
A.
J.
D.
J.
O.
J.
do
do
do
do
Nov. 1. 1880
A W. RR.
Nat. Bank.
1880
L. AW.
Boston, E. Blake A Co. June 1, 1872
Bo8ton,Nat.Bk.of Redm July 1, 1891
N. Y., D. L.
N. Y., Cont.
N. Y.,D.
M’nthly
Oct., 1909
Jan. 1, 1891
Nov. 1. 1886
Office.
N. Boston,Nat.Bk of Redm
St. Albans,
N.
1891
do
do
do
do
D.
1876 to 1889
Jan. 1, 1887
1902
Oot. 7, 1880
A J. St. Albans, Treasurer.
N. Bost., N.Bk. of Redemp.
Boston. Office.
O.
J. Boston, Fitchburg RR.
do
do
J.
J. Vicksb’g, Miss./Treas’r.
do
do
A J.
do
do
A J.
do
do
A O.
do
do
A J.
*
A
A
A
A
A
July 1, 1883
July 1. 1885
Jan. 1, 1890
Jan. 1, 1890
Jan. 1, 1890
Jan. 1, 1890
1880
'
-
Swanton, Vt.,1
mixed up
inextricably with the Vermont Central, by which it was leased and
operated, and the bonds of 1871 were guaranteed by the Vermont
miles; branches—Essex, Vt., to Burlington, Vt., 8 miles;
This road has been
to Canada line, 10 miles: total, 65 miles.
Central.
In 1879 the
bonds to take up
have been issued.
priority of
Albans, Vt,
$500,000 new
stockholders voted an issue of
those guaranteed bonds.
No satisfactory reports
In December, 1880, the Court decided in favor of the
this company’s bonds. Bradley
(V. 29, p. 452; V. 31, p. 484, 653.)
Barlow, President, St.
Vermont Central (or Central Vermont).—Windsor, Vt., to Rouse’s Point
re
Vt., 158 miles; branches and leased lines, 273 miles, included in
Other leased line, New Lon¬
turns of the Vermont Central Company.
don A Northern, 100 miles. This company has been through more com¬
the
plicated and vexatious litigation than any railroad in New England.
Poor's Railroad Manual of 1879 gives the following account of it;
“This company (Central Vermont) was chartered under its present title,
November 2, 1872.
The Vermont Central Railroad Company waa
chartered October 31, 1843, and the road opened to Burlington
December 31, 1849.
August 24, 1849, it leased the Vermont A
Canada Railroad, then under construction, agreeing to pay an annual
rental of 8 per cent on its cost, and creating a mortgage on their own
road as security for such payment. This lease has been the subject of
almost continual litigation since 1854. The Vermont Central Railroad
Company having defaulted on its interest and rental, ther trustees under
the lease took possession of the road June 28,1852, and it has ever
since been operated by them under direction of the court.
On the lirst
of January, 1871, a lease was taken of the Rutland Railroad and its
leased line, the Addison Railroad, the lessees agreeing to pay $376,000
per year, and in addition $40,500 a year for four years; $67,500 for two
years; $81,000 per year for six years, and $94,500 per year
This contract was modified February 25, 1876, as hereafter stated. In
September, 1861, a lease was also taken of the Sullivan County
road of New Hampshire, at an annual rental of $25,000, but subse¬
quently modified so that the rental depends on earnings. About
the managers of the Vermont Central Railroad purchased the Stanstead
Shefford A Chambly Railroad, extending from St. Johns, P. Q., 43 miles,
to Waterloo., P. Q., paying therefor $500,000 in bonds. They also took a
lease of the Missisquoi Railroad. The road from Canada Line to St. •
Johns is also operated by this company, and is practically a portion of
it, though chartered by the Provincial Parliament under
title
thereafter
Rail¬
1867
the
of Mon¬
Vermont A Canada Rail¬
Point, with branches from
Canada line, in all 65 miles.
Point are included in the
mileage of the Central Vermont RR.” The road is managed by a board
of trustees appointed by the Chancery Court of Vermont. J. Gregory
Smith is President. In the two years, 1876-78, the gross earnings were
$4,076,702, and net earnings, $1,461,139. The foreclosure suit has been
pending a long time on the second mortgage. (V. 31, p. 484, 653.)
Vermont tC- Massachusetts.—Line of road, Fitchburg to Greenfield,
Mass., 56 miles; branch, 3 miles; Vermont division from Miller’s Falls,
Mass., to Brattleboro, 21 miles; total, 80 miles. The road is leased to the
Fitchburg RR. for 999 years at 6 per cent. The Vermont section is
operated under lease for fifteen years from December 1, 1870, by the
New London Northern Railroad; lease rental, $48,000 in 1880 and
$54,000 per year afterwards. But in May, 1880, it was sold to New
treal A Vermont Junction Railroad Co. The
road extends from Essex Junction to Rouse’s
Essex to Burlington, and from Swanton to
The 47 miles from Essex Junction to Rouse’s
London Northern.
(V. 30, p. 600,)
of road—Vicksburg
Vicksburg <£■ Meridian— Line
Vt.. 47
has been unable to earn
tion has been
29, p. 536.)
Canada.—Essex Junction,
1,180,600
July 1, 1908
to Meridian, Miss.
full interest, but has paid so far m
earned. It has a land-grant of about 400,000 acres, of which about
200,000 have been certified, and about 40,000 aores sold. Common
stock. $357,407; preferred stock, $1,042,517.
A plan for reorganiza¬
Tailed.—Line of road, Utica, N. Y., to
Riohneld Springs, 22 miles;.total, 98
miles. Road opened October, 1872. Leased to Delaware Laokawanna
A Western at 6 per cent on stock. Has no bonded debt. Gross earnings,
1879-80, $544,927; net earnings, $262,185;
dividend payments,
Vermont d
*
Dividend.
•
The company
220,261
239,292
184,977
Utica Chenango & Susquehanna
Green, N. Y., 76 miles; branch to
$240,000.
1876-9!0
150,000
703,500
850,000
145,000
•
1
550,000
500 Ac.
•
J. A J.
J. A J.
M. A N.
3
3,050,000
Stocks—Last
Whom.
Payable
•
7
7
8**
7
8
444,100
1,508,600
pal,When Due.
Payable, and by
July 1. 1891
July 1, 1909
July 1, 1894
Utica.
Sept., 1880
M. A S.
Julv, 1891
J. A J. NY., Nat.Bk.cf Com’ce.
7
3,000,000
1,500,000
1,500,000
1,000
1872
1866
1866
1866
1866
1871
54
54
Bonds
CD
500,000
200,000
4,000,000
800,000
750,000
3,000,000
1,500,000
50,000
500,000
9
®
140
140
140
140
2d series (blue endorsed)
3d
do (blaok endorsed)
4th do (not endorsed)
®
1,112.000
m
100
t..
.
m
^
^
73
consolidated
m
720,000
Where
When
J. A J. NewYork, 80 Broadway
New York Office.
M. A N.
N. Y., Kountze Bros.
J. A J.
do
do
7
7
7
7
7
2
7
7
7
3
7
4
4
8
5
$3,888,000
1878
1879
1871
Central
Stanstead, S. A Cliambly bonds
Income and extension bonds (to pay
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount
Rate per
Par
of
of
Outstanding
Cent.
Road. Bonds Value.
274
62
75
105
discovered in these Tables.
Bonds—Princi¬
immediate notice of any error
great flavor by giving
DESCRIPTION.
lv
STOCKS AND BONDS.
RAILKOAD
DECEMBER, 1880. J
proposed.
,
s
‘
Gross
earnings. Net eanSngs.
$105,829$411,685
430,428
123,364
329,175
70,314
424,389
129,386
LEDGER, FEB. 29, 1880.
-
BALANCE SHEET OF
GENERAL
Dr.
Road and equipment.. .$3,046,563
Extension to Miss. Riv.
88,542
Miss. Riv. landing front
50,100
Extension tonnage dues
60,009
Bills receivable..:
Profit and loss
Total
38,185
1,294,330
Or.
Capital stock
Preferred stook
Funded debt
Bills
Land
payable
sorip
Total
$357,407
1,042,517
3,135,52
41,44
83
$4,577 73
$4,577,732
-(V. 30, p. 543.)
Vwginia & Tnickcc.—Reno,
Nev., to Virginia, Ner., 52 miles; branch
City, 2 miles; total, 54 miles. Road
Junction to Silver
opened November, 1869. Gross
line, Silver
$725,092; dividends
cisco.
earnings in 1878 were $1,604,442; net*
paid, $750,000. D. O. Mills, President, San Fran¬
lvi
RAILROAD
Z
Subscribers will confer
a
STOCKS
’
AND
BONDS.
great favor by giving Immediate notice of any error discovered In these Tables.
DESCRIPTION.
Miles
Fo
explanation of column headings, Ac.,
on first page of tables.
see
notes
Wabash St. Louis <£ Paci/ic—Stock, common
Preferred stock, 7 per cent, (not cuumulative)
General mortgage, gold (for $50,000,000)
1st mort. bonds bn Champaign Hav. A West
let mort. bonds on Chicago A Strawn
Wabash, 1st mort. (Toledo A Illinois)
do
1st mort. (Lake Erie, Wab. A St.-L.)
do
1st mort. (Great Western of 1859)
..
364781
Date
2,404
All.
131
260
75
167
180
600
50
354
1880
1880
1880
1853
1853
1863
1865
1862
1853
1858
1865
1867
1869
1877
1879
1877
1879
1865
354
1874
,33
29
75
167
180
490
109
...
•
•
•
•
....
....
146
22
1878
1879
1879
227
Iowa A Nebraska, 1st mortgage
Ware River—Stock (guaranteed)."
Warren (N.J.)—Stock
guar.).
2d mortgage
1st consol, mortgage
Wasatch <£• Jordan Valley— Gold Ixuids
131
131
102
118
49
1879
1879
1879
18
18
18
Quincy Mo. A Pacific, 1st mort., gold (int.
Mo.
Size,
or
Par
Value.
of
of
Road. Bonds
..
do
1st mort.
(Quincy A Toledo)
do
1st mort. (Illinois A Southern Iowa)
do
2d mortgage (Toledo A Wabash)
do
2d mortgage (Wabash A Western)
do
2d mortgage (Great West, of 1859)
do
Consol. M., (on all but Dec. A E St.L.)..
do
1st mort., (Decatur A E. St. Louis)
do
Funded debt bds (sec.by dep’sit of coups.)
do
New M., gold, s. f. $25,000 alter ’82
do
Seney mortgage
Hannibal A Naples, 1st mortgage
St. L. K. C. A No., 1st mort. (North Missouri)
do
real estate A railway 2d mort
do 1st A 2d M.ou St.
Char.Bridge,coup.or rg
do 1st M., Omaha Div., gld, s. f.,
coup.or rg
do 1st mort., gold, Clarinda Branch
Toledo Peoria A Western, 1st mortgage
do
do
1st income bonds
do
do
2d income bonds
Champaign Havana A West., 1st mort., pref
do
do
1st mortgage
r
....
1855
1870
1875
....
.
100
100
600,000
658-30
680*59
to St.
76 00—
97*00
1,915*48
In 1880, a number of additional lines have been
leased or purchased,
including the Toledo Peoria & Warsaw, Warsaw, Ill., to Indiana State
line, 227 miles, and branch to Burlington, Iowa, 20 miles, total, 247
miles; SjTcamore A Cortland, 5 miles; East St. Louis &
Carondelet,
9 miles;
Champaign Havana & Western, 131 miles; Detroit Butler
& St. Louis,—-miles; Missouri Iowa A Nebraska.
118 miles; and a
lease for use of 61 miles of the
Pittsburg Cincinnati & St. Louis. On
October 1 tlie General Ticket Agent’s Circular
gave 2,487 miles, as fol¬
lows: Eastern Division, 1,184; Western
Division, 882; Peoria A Iowa
Division, 421.
Mr. Ashley reported 2,404 miles operated.
The rentals of the Western Division on leased roads
include 7 per cent
©n $322,500 bonds of St. Louis A Cedar
Rapids Railroad; 7 per cent on
f357,700 of Brunswick Louis Council Bluffs & Omaha;Boone Co. B.;
174,000 bonds of St.
Cliillicotlie; 7
$100,000 7 per cent on
&
on
A
$357,000 St. Louis A St. Joseph; and 7 percent on Kansas
City
B ridge and the Union Depot, St. Louis, $715,000.
On January 1,1880, it was estimated that the total
fixed charges of
the Wabash St. Louis A Pacific
Railway Co. would be as follows:
on
Wabaeh
“
Division—Mortgage interest
Missouri
“
“
$1,519,904
Rentals leased lines
;
378,980
Division—Mortgage interest
*
“
907,045
144,795
Rentals of leased lines, bridges, Ac
Making in the aggregate
$2,950,724
—The additional equipment provided and to be delivered
during the
year 1880 require a further outlay of about $500,000, payable in
Instalments. This sum is chargeable to construction
account, and will
eventually increase the funded debt of the company.
*
COMBINED EARNINGS OF THE TWO OLD
DIVISIONS.
Of the earnings of years prior to 1879, the
following statement
Earnings.
Expenses.
$8,872,527
8,485,792
7,644,328
6,648,106
7,554,088
$6,442,334
7,733,088
8,322,867
6,524,827
5,722,994
5,610,310
5,488,937
5,421,916
5,451,941
is made:
Net.
$2,430,173
1,960,965
1,921,324
1,073,796
2,065,151
2,311,172
2,870,926
The fixed charges, or interest and
rentals, include the amount to
p©ld on the following lines, the earnings of which arc not embraced
Vie statement, viz.:
Chicago A Paducah Railway and extension
Quin©y A Missouri Pacific Railway
Bel River
Omaha Extension
dariada Branch
When
Cent.
Payable
;
6 g.
5
7
7
7
7
7
7
7
7
7
7
4 to 6 A 7
7 g.
7
7
7
7
7 g.
7 g.
g-
J.
Where Payable, and by
pal,^When Due.
Stocks—Last
Dividend.
Whom.
A D.
N. Y., Co.’s Agency.
Juue 1,
A A. N. Y., Metropolitan B’k.
A A.
do
do
A A.
do
do
A N.
do
do
A A.
do
do
A N.
do
do
A N.
do
do
A N.
do
do
do
do
Q.-F.
F. A A.
do
do
F. A A.
do
do “
A. A O.
do
do
J. A J.
do
do
J. A D.
do
do
J. A J. N.Y.,Nat Bk of Com’rce
M. A S.
do
do
A. A O.
do
do
A. A 0.
do
do
F. A A.
do
de
1910
F.
F.
F.
M.
F.
M.
M.
M.
Aug. 1,
Aug. 1,
Aug.,
Nov. 1,
Aug. 1,
May
May
May
4*2
312
3*2
7
7
7
J.
J.
A J. N.Y., Nat. Bk. Republic
A J.
do
do
J. A J. N.Y.,Wab. St. L.A P.RR.
1890
1890
1888
1890
1882
1. 1893
1, 1878
1, 1893
Feb., 1907
Aug., 1889
Feb. 1, 1907
April 1, 1909
Jan., ’81 A '82
June 1, 1909
July 1, 1895
Sept. 1, 1904
Oct- 1. 1908
April 1. 1919
Aug. 1, 1919
7
4
7
7
6 g.
1920
July, 1909
July, 1909
„
Oct.
1, 1909
.
J.
A.
A.
M.
M.
A
A
A
A
A
J. Boston, Bost.A Alb. RR. Jan. 7, 1581
0. N.Y., Del., L. A W. RR.
Oct., 1880
O.
do
do
April 1, 1900
S.
do
do
IMarchl, 1905
N.
N. Y., Kountze Bros.
In estimating the business of 1880 the
additional earnings of newlyacquired lines should be included. See estimate from the
company’s
office in August, 1880, as follows:
Gross
earnings of the two lines in 1879
Operating
were
$3,224,565
expenses (68 per cent)
5,599,788
Net earnings in 1879
earnings of six and
3,783,299
Total
Add estimated earnings of
Chicago
Missouri A Pacific, six months.
Estimated gross earnings, 1880
Expenses, estimated on the basis
$2,624,777
$8,224,565
:.
Gross earnings in 1879
Add estimated increase, based
upon
a-half months in 1880 (46 per cent)
of
A Strawn and Quincy
$12,007,861
.
470,000
$12,477,864
8,484,947
1879, 68 pCr cent
charges, estimated at
$3,992,917
3,200,000
Estimated surplus
$702,917
than 3% per cent on $20,000,000 of preferred stock.
—or more
Railway—Centralia, Mo.,
7
Rate per
Estimated net earnings
Deduct interest, rentals and other fixed
<,
Total operated
750,000
884,000
Chicago & Paducah Railway—Strawn to Chicago
259*50
Quincy Missouri & Pacific—Quincy, to Milan, Mo
98*00
Eel River Railway—Logansport, Ind., to Butler, Ind
93*84
Camp Point to Quincy, operated jointly with C. B. & Q 21*77
Elvastonjll., to Hamilton, 111,, op. jointly with T.P.<fc W.
6*48—1,137*89
8t. Louis Kansas City A Northern Railway, proper—St.
Louis to Kansas City
277*00
Joseph, Mo
1,800,000
....
p. 118), from which the following is taken: At
Decatur, Ill., a part of the Wabash Division extends westerly to Hanni¬
bal, Keokuk, and Quincy, on the Mississippi River. At Beuient, Ill., a
branch called the Paducah Extension, now in
process of construction,
and nearly completed to Chicago, will
open a short and direct line
between that city and St. Louis. The. various lines now
merged in one
corporation make up a grand total of 1,915*2 miles, as follows:
Wabash, main line and branches—Toledo, O., to St. Louis
Railway—Lexington, Mo.,
750,000
....
....
Branches—
From Ferguson, Mo., to St. Louis, Mo
10 46
From Salisbury, Mo., to Glasgow, Mo
15*13
Omaha Extension— Brunswick, Mo., to Council
Bl,. Ia.. 225*00
8t. Louis Ottumwa A tCedar Rapids
Railway, from
Moberly, Mo., to Ottumwa, Ia
131 00
Clarinda Branch
22 00—
Leased Lines—
Boone County A Boonevillc
3,025,000
....
January 31, 1880 (V. 30,
and Hannibal
Leased Lines—
Outstanding
-
-
Bond8—Princi¬
INTEREST OR DIVIDENDS.
Amount
$100 $20,000,000
100
20,000,000
1,000
2,000,000
1.600,000
4,500,000
1,000
900,000
1,000
2,500,000
1,000
2,495,000
1,000
500,000
1,000
300,000
250 Ac.
1,000,000
100 Ac.
1,500,000
1,000
2,500,000
1,000
2,610,000
1,000
2,700,000
500 Ac
2,942,450
1,000
1,000,000
620,000
1,000
500,000
1,000
6,000,000
1,000
2,993,000
1.000
1,388,500
1,000
2,350,000
1,000
264,000
1,000
4,427,000
1,000
2,900;000
1,000,000
100 Ac.
350,000
100 Ae.
1,100,000
1,000
925,000
Wabash St. Louis <£ Pacific—X consolidation of the Wabash Railway
with the St. Louis Kansas*City A Northern, November
1,1879. A full
statement as to the consolidation was published in the Chronicle of
St. Joseph A St. Louis
[VOL. XXXI.
be
in
259 miles.
98
“
94
143
22
“
“
“
616 miles.
Preferred stock of the new company was issued for
preferred stock of
the St. Louis Kansas City A Northern, and for one-half of Wabash
stock;
common stock of new
company was issued for the 8t. Louis Kansas City
A Northern common and for one-half of Wabash stock. The Trustees
of
the general mortgage for $50,000,000 are the Central Trust Co. of N. Y.
and James Cheney of Indiana. It provides for
taking up all the old
bonds as they mature, or by
exchange at any time the holders offer
them, and reserves $33,000,000 for that purpose; and the bonds so takep.
up are not canceled but remain in the hands of the trustees as the prop¬
erty of the trust. Then $6,000,000 are assigned for equipment and per¬
manent improvements, and the balance of
$11,000,000 for the acquisi¬
tion of new roads, Ac. All the roads owned and all the
right and title to
roads leased and controlled are covered
by tlie mortgage deed. The
mortgage may be foreclosed after six months’ default or interest, if a
majority in value of all the bondholders so request the trustees. Of the
old Wabash funded debt bonds, $1,958,355
carry 5 per cent in 1879-80
and 6 per cent thereafter; the balance are 7
per cents. First mortgage
on St. Charles Bridge is for
$1,000,000, and is 7 j>er cent for 3 years and
8 per cent for 27 years, and may be
paid off on six months’ notice. See
V. 30, p. 249.
The Toledo Peoria A War. company made default
Dec., 1873, and was
operated by a Receiver until sold in foreclosure on Jan. 20, 1880. It
was purchased by a committee of bondholders for
$6,000,000, and re¬
organized as Toledo Peoria A Western. This company made a perpetual
lease of the road to the Wabash St. Louis. A Pacific on terms as
follows, viz.: That the Wabash Pacific guarantee 7 per cent ton the
$4,500,000 first mortgage bonds of the Toledo Peoria A Western.
The $2,900,000 income bonds to be
guaranteed at 4 per cent,
or
the holders thereof can exchange them at
par for Wabash St.
Louis A Pacific preferred stock. The $1,000,000 second income bonds to
be exchanged for Wabash --common stock share for share. The
stock of
the Toledo l’eoria A Warsaw was scaled 25
per cent common, 30 per cent
second preferred and 50 per cent first
preferred, each shareholder
receiving this amount in new stock of the Toledo Peoria A Western
stock.
The Toledo Peoria A Western stock is
changed into Wabash
common stock, three shares for one.
This scheme would involve the
issue of $2,900,000 of Wabash preferred and
$2,000,000 common stock.
In 1878-9 net earnings were reported at
$403,238. (V. 29, p. 19, 42,
86, 121, 147, 171, 226, 278, 408, 460, 513, 553; V. 30, p. 118, 170, 249,
264, 358. 409. 434. 494. 520, 568; V. 31, p. 61, 70, 124, 154,
171, 216.
229, 230, 240, 259, 304, 330, 381, 383, 397,429,445,453,485,536,
551.)
Ware Hirer.—Palmer, Mass., to
Winchendon, Mass., 49 miles. It is
leased for 999 years to the Boston A
Albany Railroad at a rental of 7
per cent per annum.
I. A. Rumrill, President, Springfield, Mass.
Wai'rcn, N. J.—Line of road, New Hampton Junction
Bridge, N. J., 18*4 miles. The road is leased to Delaware
A Western at 7 per cent on stock and bonds.
Gross
to Delaware
Lackawanna
earnings, 1879,
tIPO,040; net earnings, $313,198; interest paid, $92,698; dividends,
126,000.
Wasatch <6 Jordan
Valley.—Brigham Citv, U. T., to Alta City,
U. T..
Camp Floyd was merged
average net earnings were
44 miles.
In 1878 the Bingham Cafion A
in this. For three years,
1876-7-8, the
§131,186 per annum. The stock is $1,100,000. C. M. Scofield, Pres¬
ent, New York City,
RAILROAD
December, 1880.J
Subscribers will confer
a
STOCKS
AND
BONDS.
great favor by giving Immediate notice of any error discovered In these
Tables.
DESCRIPTION.
For
explanation of column headings, &e.,
on first page of tables.
Miles
see notes
Date
of
of
Road. Bonds.
Washington City d PL Lookout—1st M. bonds, gold
Washington City Va. Mid. d Gi. Southern—Stock...
12
310
Size,
11873
1871
336
Lynchburg A Danville, 1st mort.,
05*2
1873
1871
500 Ac.
*2*7
1*871
10*0*
*..*!.*
....
....
....
guar., coup
Westchester d Philadelphia—Preferred stock
1st mortgage, new
West Jersey—Stock
Loan of 1883, guaranteed by Camden A
Amboy..
1st mortgage loan
1st
do
consolidated
Consolidated mortgage
West Jersey d Atlantic—1st mortgage
123
60
33
63
128
46
116
44
160
138
90
90
90
90
..
(Ala.)—1st mortgage (Mont. & W. P.)
Western RR. bonds,
before
consolidation
2d mort.. guar, by Cent, of Ga. and Ga. RR. A B. Co.
Western d Atlantic (Ga)—Income bonds
Western Maryland— 1st mort., endorsed Balt.
City..
1st mortgage, unendorsed.
2d
do
endorsed by Baltimore
2d
do
endorsed by Washington County
2d preferred mortgage, unendorsed
3d mortgage, endorsed by Baltimore
4tb
do
endorsed by Baltin ore
Funded coupons
Western Minnesota—1st mortgage
Land grant bonds
:
.
..
90
90
90
.
.
.
.
60
1*855
1858
1860
1867
1879
Ac.
50
....
1861
1866
1869
500 &c.
500 Ac.
500 Ac.
500 Ac.
1866
1868
1870
1868
1870
1872
1880
1877
1877
$540,000
2,692,539
525,070
1,657,652
317,800
1,200,000
1,650,000
133,050
1,000,000
1,310,000
821,300
1,100,000
1,359,750
400,000
1,000,000
1,100,000
123,500
187965-0
500 Ac,
100
500
500
500
Ac.
Ac.
Ac.
Ac.
500 Ac.
500 Ac.
500 Ac.
1.00*0
1,000
Washington City d Point Lookout.—Ilyattsvillc, Md., to Shepherd,
Md., 13 miles.
This road was opened in 1873. It is leased to the Balti¬
Ohio for $36,000 gold per annum. The stock
paid in is
$1,000,000. Same officers as Baltimore A Ohio Railroad.
Washington City Va. Midland d Great Southern.—Line of road, Alex¬
andria, Va., to Danville, N. C., 238*2 miles.
Branches—Manassas Junc¬
tion to Strasburg, 63 miles; Warrenton Junction to Warrenton,
8*2 miles;
Strashurg to Harrisonburg (leased to B. A O.), 49 miles; total of all lines,
359 miles. A consolidation (November, 1872) of the
Orange Alexandria
A Manassas and Lyneh’g A Danville railroads.
The Orange; Alex¬
andria A Manassas was a consolidation (June 1,1867) of the
Orange A
Alexandria and the Manassas Gap. Between Gordonsville A Charlottes¬
ville, 22 miles, the Chesapeake A Ohio Road is used for a rental of
$30,000.
The company was put into the hands of a receiver July],
1876, interest being in default, and was sold in foreclosure May 13, 1$80.
The Baltimore A Ohio has large claims against the company
for
more
Outstanding
Rate pei‘
Ceut.
6
.
When
Payable
J.
'
Whom.
Dividend.
A D. Baltimore, Balt.A O.RR.
A
coupons,
300,000
600,000
1,158.000
690,000
200,000
400,000
300,000
300,000
600,000
875,000
1,000,000
530,250
500,000
100,000
1903
—
G
6
8
8
7
7
7 g.
6
2
7
O
6
6
7
6
*
M. A
J. A
M. A
M. A
A
J
J. A
M. A
A. A
J. A
N.
J..
Balt., R. Garrett A Sons
S.’
J.
J.
do
do
do
do
do
N.j
do
N.|
:
do
do
do
do
do
do
do
0.1
do
J.
Philadelphia, Office.
0.1 Phila., Farm.A Mecli.Bk
A. Phila., Pa.RR.Co. Office
S.
do
do
J.
do
do
O.
do
do
N.
do
do
A.
F.
M.
J.
A.
A
A
A
A
A
M. A
8
8
8
10
6
6
6
6
6
6
6
6
7
7
J. A J. New York A Savannah,
A. A O.
do
do
A. A O.
do
do
Q-J.
-
J.
J.
J.
J.
J.
J.
J.
A. J.
A J.
A J.|
A J.!
A J.i
A J.i
A J.I
....
Atlanta, Co.’s Office.
Balt., N. Mechanics’ B’k
do
-
Hagerstown, Md.
Balt.,N. Mechanics’ B’k
j
M. A N j
M. A N.
do
do
do
do
do
do
do
do
do
Northern Pacific.
do
do
.
,
Nov. 1, 1866
1, 1875
May 1, 1873
Sept. 1, 1880
July 1, 1880
Jan.
500,000;
....
1873
1858
1858
1867
1867
Amount
1875-96
100
Bonds—Princi¬
pal, When Due.
Where Payable, and by
Stocks—Last
INTEREST OR DIVIDENDS.
or
Par
Value.
1st mortgage, O.A A., and funded interest
2d mortgage, O. & A.,
do
do
3d mortgage, O. & A.,
do
do
4th mortgage, O. & A.,
do
do
1st mortgage, O. A. & M. RR
2d mortgage. O. A. A M. RR
Gen. mort., gold, Wash. C., Va. Mid. A (it. South’u
Western
lvii
July 1, 1882
May 1, 1903
April 1, 1896
July 10, 1880
April 1, 1891
Nov. 17, 1879
Mcli., 1883
Jan., 1896
Oct.. 1890
Nov., 1909
July. 1881
Oct. 1. 1888
Oct. 1, 1890
Oct. ’79 to ’91
Jan. 1, 1890
Jan. 1, 1890
Jan., 1895
Jan., 1895
Jan., 1895
Jan., 1900
Jan., 1902
1890
miles.
Opened June 17,1880, and operated by West Jersey Railroad
joint traffic agreement. Stock is $500,000.
Western Alabama.—Line of road—,Selma to
Opelika, Ala., 116 miles
branches, Opelika to West Point, 22 miles, and Opelika to Columbus, 29
miles
011 a
; total, 167 miles.
Was a consolidation in 1870 of
Montgomery A
West Point and Western of Alabama. Sold May 10,
1875, in foreclosure
and purchased jointly by the Georgia Railroad and Central
Railroad of
Georgia. The old stock and income bonds were wiped out in the fore¬
closure, and the property is represented by the bonded debt and $361,005
due each of the above companies. There are also $45,000 second mort¬
gage 8s of Montgomery A W'est Point RR. due May 1, 1888. The
gross
and net earnings have been as follows:
Gross
Net
Earnings.
$491,458
Earnings.
$121,088
Bonded
Interest.
$204,240
467,597
etc.; but a plan of reorganization is in progress which will be agreed to
100,524
204,240
:
544,107
by all interests. This proposes: The interest on the first and second
176,652
204,240
579,492
183,994
Orange A Alexandria from July 1, 1879, to July 1, 1880, is to be funded
165,000
-(V. 30, p. 542 )
in the new bonds to be issued. Interest on the third
'
>
Orange A Alexan¬
dria is 6 per cent after the expiration of live years. The interest on the
Western d Atlantic.—Atlanta, Ga., to Chattanooga,
Tenn., 138 miles.
fourth Orange A Alexandria bonds is to be 3 per cent
for the first ten Built by State of Georgia and opened in 1850, and by an act. of October
years, 4 per cent for the next ten years, and 5 per cent for the remain¬ 24,1870, was leased to a company for twenty years at a
monthly rental
ing twenty years. The mortgage to be made to secure the new bonds, of $25,000. In 1877 gross earnings were rej>orted at $1,091,895, and
issued in lieu of the Orange Alexandria A Manassas and Manassas net, $460,905. None later
given. (V. 29, p. 489.)
Gap bonds, is to cover all the interest of tho new company in the lease
Western Manjland.—IAno of road—Baltimore to Williamsport,
-of the road from Strausburg to
Md., 90
Harrisonburg, made by the Baltimore A miles. The capital stock is $682,250. The company was
Ohio Railroad Company, thus pledging the rental of that road to the
largely assisted
by the city of Baltimore, and was unable to pay all its interest.. A coiupayment of the interest upon this class of new bonds. The interest upon
promiso was made with the preferred second mortgage bondholders
the new bonds issued in lieu of the Lynchburg
A Danville bonds is at funding coupons. See Chronicle, Vol. 29, p. 458, where the annual for
re¬
the rate of 4 per cent for eight years. The common and
preferred stock port for 1879 was published, which contained the
following information :
of the companies is to be' represented
by stock of the new company
During the year an amicable adjustment has been made with the pre¬
upon a basis of $100 stock of the new for $500 stock of the old com- ferred 2d
mortgage bondholders, by the adoption of a mutually satisfac¬
3>anies. The new road to be constructed bv the Charlottesville A Iiapitory funding scheme. Under this arrangement, the overdue coupons upon
dan Railroad Company, from Charlottesville to
Orange Court House, is $390,000 of the $421,500 of these bonds held by individuals have been
to be covered by all the mortgages
except the mortgages to secure the funded, and it is expected the balance,
held in Carroll
new bonds issued in lieu of the
Lynchburg A Danville bonds. The new county, will be funded by .Tan. 1, the time principally the
at which
company has
company is to assume the lease of the Franklin A Pittsylvania Railroad
agreed to resume the payment of interest upon all such bonds represent
Company, and all interest in the lease is to be covered by a mortgage ed in the funding certificates. The finance
commissioners of Baltimor
made to secure the new bonds issued in place of the
Lyncliburg A Dan¬ city have funded $113,475 first mortgage and $112,455 preferred
ville bonds. The trustees are authorized to borrow such sums of
money second mortgage coupons. The old funding certificates for $177,596 of
as may be needed for the purchase of the road and the
other purposes of first and preferred second
mortgage coupons issued in 1870, and bearing
the trust upon the credit of the property which
they purchase. Vacancies 8 pec cent interest, fall due July 1,1880. A number of the
in the board are to be tilled by the trustees. A full
principal hold¬
statement of the ers of these have beeu consulted, and all seem
willing to renew at maturity
company’s liabilities and earnings was given in the Chronicle of at 6
per cent.
(Carried out thus in 1880.) The arrearage of interest
January 18, 1879 (V. 28, p. 70), which contained the
following state¬ due the city on the $72,000 first mortgage coupons, purchased in
ment or the
earnings and expenses and the interest charge for which will be provided for by installments as early as practicable. Once1874.
able
each section was primarily liable:
to pay the mterst upon its first and preferred second mortgage bonds and
1877.
Primary funding certificates, with the arrears above mentioned disposed of, all the
Net
Interest other bonds being endorsed
by Baltimore city and Washington county,
Receipts. Expenses.
Income.
CluM-ve.
the company will be relieved of the expensive litigations aud the uncer¬
Alex. A Lynclilmrg Div
$736,805 $521,503 $215,302 $284,031 tainties which have h arassed it from its
inception to the present time,
162,721
72,050
90,671
143,433 and the day for such a condition can no longer be remote.”
v.
105,992
100,941
5,051
117,000
The Baltimore A Hanover RR. was completed to its connection with
this road in 1880. The report of 1879 said of this: “ With the
.$1,005,518 $693,991
$311,024
present completed line of 60 miles, including the Hanover A Gettysburg,
1878.
the controlling road, and.without further extension northward from
$894,405 $615,000 $279,405 $284,031 Hanover, as it is contemplated at an early day, this route will give the
1 15,421
190,421
75,000
143,433 towns of Hanover, Gettysburg, New Oxford, Berlin, and many others of
v.
133,£01
113,000
117,000 minor importance, together with a large scope of thickly-settled and
20,291
highly-improved country, much more direct communication than here¬
tofore enjoyed with Baltimore, their natural market, and in
.$1,218,117 $303,000 $415,117
usiug 20
A summary of the whole plan of
reorganization was published in the miles ot ,tlie Western Maryland Railroad between Emory Grove and
Chronicle of July 19, 1879 (V. 29, p. 68). In
February a decree of Baltimore, it is believed that the traffic from this source will largely
sale was made, and the road was sold May 13,
1880, for $4,500,000, but increase the revenues of this company without materially adding to ib»
litigation ensued and another sale was ordered Dec. 20, 1880. (V. 29, expenses.
The Baltimore A Cumberland Valley Railroad was also
]). 19, 68, 96, 303, 331, 383; V. 30, p. 193, 289, 345, 520; V. 31, p. 306, expected to be in operation by this time to the town of Waynesboro, Pa.,
seven miles distant from Edgemont, its terminus on the Western
430.)
Mary¬
land Railroad. *
*
This seven miles is but the entering
*
wedge
Westchester d Philadelphia.—IJ110 of road—Philadelphia to ’West¬
to a line which, when further prosecuted, must prove of incalculable
chester, Pa., 26 miles. I11 May, 1880, the Philadelphia Wilmington A benefit to this
company, and must restore to Baltimore much of her
Baltimore purchased two-thirds of tho stock at par. and
guaranteed the long-lost trade with the
Cumberland Valley.”
bonds. Gross earnings, 1877-78, $312,486; net,
$146,127. (V. 26, p.
The operations for five years have been as follows, but in 1878-79 the
116; V. 30, p. 545.)
construction account was closed and all expenses charged to operating
West Jersey.—Main line—Camden to Capo
May and Bridgeton, 111 expenses, on which basis net earnings in 1877-78 would have been
miles; leased lines, 27 miles; total, 128 miles operated. The company $57,050 instead of $129,927.
holds as assets $679,100 of various stocks and bonds.
I11 1879 the
Passenger
Freight
Gross
Net
rentals of Bwedesboro Railroad and Salem Railroad were
$30,561 mort;
Mileage.
Mileage. *
Earnings.
Earnings.
than their not earnings; the liet
prolits over interest and rentals on
6,737,061
4,631,932
$311,902
$96,346
entire line were $55,873. In first six mouths of 1880
6,582,241
4,692,089
gross earnings
332,086
112,14ft
were $257,350 and net
$67,070. Operations for three years past were:
7,411,061
5,180,982
347,202
129,927
Passenger
Gross
i 878-79
Net
8,502,388
5,469,519
347,442
Freight (ton)
73,066
Mileage.
Mileage.
10,705,925
6,645,328
Earnings.
397,564
88,278
1877.
14,523,873
3,796,067
$203,595 —(V. 28, p. 97, 121, 147, 454; V. 29, p. 458.)
1878
15,386,915
3,624,706
541,678
202,985
Western Minnesota.—Sn\ik Rapids, Minn., to Braiuerd, Minn., 61
1879
16,674,109
5,^17,286
586,178
253,812 miles. Road opened Nov. 1, 1877.
Leased to the Northern Paeiflo
-(V. 30, p.431.)
Railroad May 1,1878, for 99 years. Stock, $100,000. The laud grant
West Jersey d JJ/antfc.-Newflcld, N. J., to Atlantic
City, N. J., 34 is 537,842 acres. Goo. L. Beokcr, Preet., St. Paul, Minn, (V. 31, p. 430.1
...
“
..
..
..
..
.
’
Subscribers will confer a
great fkvor by giving
DESCRIPTION.
For
explanation of column headings,
on first page of tables.
WV/f/xt-ij
Wnrth Ctnmlinsi—1
<fcc., see notes
nt, mnrtjynfTf*
1875-690
....
1879
....
100
179
do
.
m
....
m
....
gold, land grant.
327
46
....
....
1871
....
....
...
1873
1875
f Bonds, mortgage
Bonds, mortgage
Nashua «
do
1,000
1880
Sterling bonds
Wisconsin Central— 1st mortgage,
Worcester c6 Nashua—Stoek
Bonds, mortgage
....
179
WilmingtondlvWeldon—Stock
gold
500 &c.
100 &c.
....
mortgage
{finking fund bonds,
$....
1863
1865
62
Wheeling
Lake Erie.—1st mortgage, gold
Wilmington Columbia <£ Augusta—Stock
do
Date
Size, or
Par
of
Road. Bonds Value.
....
Branch
Immediate notice of any error
Miles
of
130
57
28
...
Western Pennsylvania— 1st mortgage
1st mortgage. Pittsburg
General mortgage
White Watei—Stock ($325,000 of it prof.)
N#vw
STOCKS AND BONDS.
EAILKOAD
Iviii
Rochester—Stock
do
1st m., guar, (for $700,000)
48
48
....
100
100 &c.
500 &c.
1000&C.
....
1874
North Carolina.—Road as projected—Salisbuiy, N. C., to
Paint Rock, Tenn. State line, 184 miles; in operation—Salisbury, N. C.,
to Swannanoa, N. C.. 127 miles; branch line—Newton Junction, N. C., to
Newton, N. C., 3 miles; total projected, 184 miles, and operated, 130
miles. The road was financially embarrassed, and was purchased April
17, 1875, by commissioners for the State of North Carolina. It
pro¬
Western
is
posed to complete the road to the Tennessee State line. In March, 1880,
a meeting of the Legislature was called to act on a proposition by New
York capitalists to purchase the road. Stock, $1,400,000. J. W. Wilson,
President, Morgantown, N. C. (V. 30, p. 249.)
Western
Pennsylvania—The road runs from
1875-960.
Blairsville to Alleghany
branch to Butler, Pa., 21 miles; total, 84L> milesCompleted in 1865 and branch in 1870. Leased to Pennsylvania Rail¬
road, the lessees paying net earnings to lessors. The Pennsylvania Rail¬
road, lessee, owns $993,050 stock out of the total amount of $1,022,450,
$288,000 of branch bonds, and all of $1,200,000 general mortgage
bonds. In 1878 gross earnings were $547,175 and net earnings $231,175.
City, Pa., 63^2 miles;
Rate per
When
Cent.
A. & 0.
J. & J.
A. & O.
Where
$850,000
800,000
1,000,000
1,200.000
1,300.000
15,000 p. m.
960,000
1,600.000
1,456,200
648,700
221,400
749,000
8,168,000
1,789,800
275,000
250,000
400,000
1,305,800
sg3
7 g.
1*2
5
5
5
1^
5
Stocks Last
Dividend.
May 1, 1890*
Philadelphia, Penn. RR. April 1, 1893
Jan. 1, 1896
do
do
Oct. 1, 1901
do
do
N.
J.&D.
J. & D.
J. & J.
M. & N.
J. & J.
J. & J.
J. & J.
Various
A. & O.
F. & A.
A. & O.
A. & O.
7g-
700,000
Whom.
M. & N.
7
3
6 g.
7 g.
pal,^When Due.
Payable, and by
Payable
7
6
6
7
Outstanding
11887795--60.
discovered In these Tables.
Bonds—Princi¬
INTEREST OR DIVIDENDS.
Amount
500 &c.
[Vol. XXXI
Y., Co.’s Agency.
Balt., Safe Deposit Co.
Nov.'1,
(?)
1881
1886
1896
London.
do
N. Y.,Bost.,Lond.,Frank
1909*
1, 1880*
June. 1910
Nov.
1901
1881.
1887
1893
Feb. 1, 1895
Oct. 1, 1880
April 1, 1894
July 1,
Jan. 1,
do
do
May 1,
Boat., Globe Nat. Bank. April 1,
Boston, 28 State St.
Worcester, Office.
do
do
Worcester, Office.
Bost., Globe Nat. Bank.
1
Gross
Earninge..
$604,699
548,462
488,448
505,978
603,175
i
Net
Earnings.
$238,977
156,908
176,277
175,693
221,698-
-(V. 28, p. 44, 144; V. 30, p. 191; V. 31, p. 587.)
Wisconsin Central.—Main, line, Menosha to Ashland, Wis.,
249 miles
Milwaukee <fc Northern,
suit was begun in.
September, 1878, and in January, 1879, the road went into the hands of
trustees for bondholders, having been operated previously by the
Phillips & Colby Construction Co. There is a valuable land-grant of over800,000 acres.
The full plan of reorganization, without foreclosure^
branch to Portage City, 71 miles; leases the
129 miles. Road finished in 1876. A foreclosure
303. This
$400,000 5
series bonds, bearing 2 per
afterward; and
$5,700,000 second series bonds, to draw interest if earned (but not
White Water.—Harrison, O., to Hagerstown, Ind., 62 miles. This was
cumulative), 2 per cent for three years, and 7 per cent thereafter. The
formerly the Wliite Water Valley, sold in foreclosure May 2, 1878, and stock of $11,435,500 remains ($2,000,000 of it preferred),and $9,500,000*
reorganized under this title. Net earnings in 1878, $17,645. Elijah are deposited in trust to be voted on until all interest is being earned
Smith, President, Boston, Mass.
and paid on new bonds. Of the old first mortgage bonds prior to re¬
organization, $1,091,500 were “unfunded,” bearing coupons of July,
Wheeling & Lake Erie.—Road under construction—Wheeling. W. Va., 1875, and since; $3,594,000 had funded nine coupons, including July,.
to Toledo, O., 200 miles, and branch, Norwalk to Sandusky, O., 21
1879; $3,481,500 were “clipped” bonds, first coupon due January,.
miles. Bonds offered in New York, July, 1880 by N. Y. New England &
1881; $15,000 were partially “clipped” bonds, issued by mistake,
Western Investment Co.
with coupon of July, 1880, on.
Annual report, V. 80, p. 599. For four
years past the earnings, <fcc., were as follows:
Net
Gross
Wilmington Columbia <£• Augusta.—The road extends from Wilmington
Freight (ton)
Passenger
N. C., to Columbia, S. C., 180 miles. The company leased Wilmington & Years.
Earnings.
Earnings.
Mileage.
Mileage.
Miles.
Weldon, but failed on the rent December, 1877. Paid 3 per cent divi¬
$126,887
$709,935
21,647,694
355
5,960,952
dend November, 1880.
Gross
Earnings.
Net
Earnings.
$532,311
$116,634
- 518,225
87,630
509,699
,
98,659
deficit, 8,010
478,309
547,446
145,423
Road was sold in foreclosure, October, 1879, for $860,500, and re¬
organization is in progress.
The scheme of reorganization (which was
carried out) provided that a new corporation should be created, with a
•capital stock of $9(50,000 and $1,600,000 in thirty-year first mortgage
bonds. The holder of $2,000 of the old bonds, together with the certifleates for funded interest, received a $1,000 bond of the new company,
and Am addition six shares of stoek. The plan adopted provided only for
the fiiit mortgage bondholders, and out off income bonds, $600,000;
certificates of debt, $336,000; floating debt. $879,022, and the capital
stock of the old company, $300,000. (V. 29, p. 351; V. 30, p. 84, 190;
V.
31, p. .$8 7.)
WilmingiM* d- Weldon.—Road extends from Wilmington to Weldon,
C., 163 miles; branch to Tarboro, 17 miles; total, 180 miles. Was leased
November, 1872, to Wilmington Columbia <fc Augusta Railroad for 99
N.
years,
the lessees assuming all
liabilities and paying 7 per cent divi¬
the lease was
fax five years
dends. The leases made default December, 1877, and
ourreoidered Apr# 13,1878. The earnings and expenses
fcav.e hew a# XoiXoynt;
which is in progress, was given in the Chronicle, V. 29, p.
embraces the issue of a new consolidated mortgage to cover
per cent preferred bonds; $3,800,000 first
cent for three years from July 1, 1880, and 5 per cent
1878
1879
5,889,367
5,661,975
6,385,319
449
449
455
....
....
22,984,236
23,225,583
30.920,076
718,743
733,819
851,090
108.964
122,863
193,090*
V. 31. p..
-(V. 28, p. 18, 70; V. 29, p. 147, 303; V. 30, p. 249, 598;
196, 205, 431, 536.)
Mass., tofor some years& Rochester, 48
miles) first appear in the accounts, and the Worcester «fc Nashua paid
only 5^2 per cent dividends In that year and nothing since. The rentalcharge being plainlj' too heavy, an agreement was made in 1879 to
reduce the interest on bonds to 5 per cent, and the dividends on Nashua.
& Rochester stock to 3 per cent per annum. The interest on Worcester
& Nashua bonds was also reduced to 5 per cent, and surplus earnings in
any year above requirements for interest and 3"per cent on each stock
are to be apportioned between the stock of each company according to*
the relative number of shares. In addition to above there are $75,000
bonds due Jan. 1,1881. Five years’ operations were as follows :
Worcester <£*
Nashua.—This road, 45 miles from Worcester,
Nashua, N. H., paid regular dividends of 10 per cent
before 1874-5. In 1875-6 the leased line charges (Nashua
Passenger
Miles,
1875-6....
1876-7....
1877-8....
1878-9....
..
70
95
95
95
95
Freight
Gross
Net
Mileage.
Mileage.
Earnings.
Earnings.
8,969,241
$507,325
497,239
473,240
473,081
$162,597
157,260
168,351
165,495
553,592
167,033
5,874,803
6,383,990
5,703,761
6,168,871
6,781,960
p. 378
-{V. 27, p. 537; V. 28,
10,063,658
9,961,740
12,123,414
14,995,020
; V. 29, p.
86, 539*)
CANAL
December, 1S80. J
Subscribers will confer a great fhvor
DESCRIPTION.
For
explanation of column headings, Ac., see
on first page of tables.
Albermarle <£•
notes
14
14
•Guaranteed sterling loan
Bonus
having next preference
(Delaware Division—Stock, (Conv.into L.C.AN.stck.)
1st mortgage (extended 20 years in 1878)
(Delaware <t Hudson—Stock....,
1st
Date Size, or
Miles
Par
of
of
Canal. Bonds. Value.
....
Maryland loan, sinking fund
mortgage, registered
do
do
Debenture loan of 1894, coup
1st M., coup. A reg., on Penn.
and reg
}Lehigh Coal d Navigation—Stock
Loan, conv., coup., gold (assumed L. A W. Coal Co)
1st mortgage,
1st mortgage,
Mort. loan, g.
registered
registered, railroad
($2,810,000 assumed by other co’s.)
Lean, debenture mortgage
Loan, debenture
Consolidated mortgage loan
Greenwood mortgage, reg.
Scrip.
Extended, 1877
Preferred stock scrip
dividend
Pennsylvania—Stock
General inortg., interest
guar’d by Penn. RR—
Preferred stock:
....
....
.
.
Mortgage bonds, coup,
Improvement bonds
Vario’s
1856
25
500 &c.
500 Ac.
500 Ac.
50
....
....
....
....
....
1858
1,000
100
....
1869
1871
1,000
1,000
1874
1.000
lOOOAc.
50
500 Ac.
Var.
Var.
500 Ac.
Var.
Var.
.
a
337
337
108
®
.
.
1869
1864
1867
1867
.
m
®
extended
....
1872
1871
1872
L
1,000
1,000
various.
1876
1865
1869
1,000
various.
various.
50
....
1870
1,000
50
50
....
....
1,000
....
....
1870
1863
1864
45
Maryland loan, 2d mortgage
8usquehanna Canal, common bonds, 4th mort....
do
pref., 3d. T. W. priority b’ds..
....
...
bonds of 1872
.
.
1839
1859
1841-4
1872
85
•Union—1st mortgage
.
*
*
500,000
2,078,038
1,993,750
8,229,594
2,000,000
4,375,000
1,699,500
1,633,350
800,000
20,000,000
3,500,000
6,481,000
4,856.000
5,000,000
11,204,250
771,000
5,381,840
2,000,000
4,653,000
430,342
41,550
2,102,750
685,000
2,002,746
....
....
1,000
500
1,000
•• *
•*
*
Rate per
Cent.
$1,500,000
50
100
100
....
....
.
Amount
Outstanding
245,000
1,025,000
1,175,000
780,000
220,000
103,164
4,501,200
3,000,000
876,536
3,192,250
1,769,380
3,990,392
1,200,000
228,000
756,650
628400
1,000
(payable by P. & R.)
S asquehann a—Stock
discovered In these Tables.
Bonds—Princi -
INTEREST OR DIVIDENDS.
1,000
1,000
1,000
....
....
Boat and car loan
Boat and car loan
do
....
.
Schuylkill Navigation—Stock, common
1st mortgage,
2d mortgage
339
103
103
103
103
(for $1,000,000)
50
....
....
.'
$....
1,000
1879
1877
....
3/or,-is—Stock, consolidated
Preferred stock
New mortgage
Boat loan
184
184
184
184
60
60
148
148
148
....
Div. ($10,000,004
lix
BONDS
by giving immediate notice of any error
Chesapeake—Stock
Mortgage bonds
Chesapeake d- Delaware—Stock
1st mortgage (originally $2,800,000)..
Che8a^)eake d- Ohio— Stock
STOCKS AND
1,000,000
1,323,000
325,310
250,000
3,000,000
When
Where
pal,When Due.
Payable, and by Slocks—Last
Dividend.
Wh
10m.
Payable
J. & J. N. Y., Union Trust Co.
J. & D.
Philadelphia, Office,
do
do
J. & J.
J. & J.
.
6
5
6
14*28.
6
4
7
7
7
7
1*3
I8’
6
sg6
7
7
6
2 ■’
5
7
7
7
*6*
Q- J.
Q-J.
J.
F.
J.
F.
J.
J.
A.
M.
Q-M.
S.
Q-J.
Q—F.
&
&
&
A
&
D.
D.
D.
D.
A.
A A.
J. A J.
F. A A.
$1 40
August.
6
6
6
6
6
7
Q. -M.
6
6
7
1870
1890
1885
Balt., A. Brown Ac Sons
London.
Sept. 2, 1876
1894
1884
1897
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
1897
1880-’81-*82
1882
June 1, 1911
1892
3 883-’84
do
do
Aug. 4, 1880
April 1,1906
Oct., 1885
Feb., 1889
A S.
A A. Leh. Val. RR. Co., I
do
do
& A.
do
do
& O.
do
do
& O.
70c.
“<T
July, 1886
J. Balt., A. Brown A Sons,
A. i Phila., 303 Walnut st. Mar. 20, 1880
do *
do
J.
July 1, 1898
A. N. Y., Bk. of Commerce,
Aug. 1. 1876
1884
do
do
J.
do
1891
do
J.
1894
New York, Office,
O.
do
do
S.
Sept. 1. 1917
&
&
&
A
&
A
&
A
M. &
J.
J.
J.
J.
F.
M.
F.
F.
A.
A.
F.
July 1, 1909
J.
J.
M.
M.
M.
A
A
A
&
A
J.
J.
N.
N.
N.
J.
J.
J.
J.
M.
&
A
A
&
A
J.
J.
J.
J.
N.
do
Aug. 4, 1880
Phila., 233 So. 4th 8t.
Philadelphia, Office,
do
do
^
do
do
do
do
do
do
do
1882 to 1907
do
do
do
do
do
1895
May, 1880
May, 1913
May, 1916
Phila. and Baltimore,
do
do
do
,
do
do
July, 1910
Aug. 6, 1879
Aug. 6, 1879
March, 1897
do
Philadelphia, Office.
,
Jan., 1885
Jan. 1,
1918
Jan., 1894
Jan., 1902
May 1,1883
placed on New York Stock —(V. 28. p. 453, 501; V. 29, p. 119, 146, 225, 357, 459, 563, 631; V
Marshall Parks, Norfolk, Va. 30, p. 168, 320, 518, 589 ; V. 31, p. 44, 122, 259, 357.)
Lehigh Coal & Navigation.—The Central Railroad of New Jersey
Chesapeake d Delaware— Delaware City to Chesapeake City, Md. assumes (in purchase of equipment) $2,310,000 of the gold loan due
—(V. 30, p. 674.)
1897, and leases the Lehigh A Susquehanna Railroad. The Lehigh Ac
Chesapeake d Ohio—Gross receipts, 1878, $289,457; not, $82,525. Wilkesbarre Coal Company assumes $500,000 of the gold loan due 1‘897,
and $771,000 (all) of tbe convertible gold loan due 1894. The Board
—(V. 28, p. 599.)
of Managers’ report for the year 1897 has the following statement of
Delaware Division—’Leased to Lehigh Coal A Navigation Co. at interest
receipts and disbursements:
on bonds ami 4 per cent a year on stock, payable till February, 1880, in¬
clusive, in scrip, then till August, 1881, half in scrip. (V. 28, p. 41,198.)
RECEIPTS.
Delaware d Hudson —This company, which is among the largest Railroads and NesqueboningTunnel
$828,817
miners and carriers of coal, leases the Albany A Susquehanna and Lehigh Canal
51,930
Rensselaer A Saratoga railroads. Also endorses bonds of New York & Water Powers Leliigh Canal
19,830
♦Canada Railroad. The annual report for 1879 was given in Y. 30, p. Delaware Division Canal
47,589
2120. Comparative statistics for four years arc as follows :
Net profit oil Lehigh Coal
190,622
INCOME ACCOUNT.
Royalty on coal mined by lessees
1,961
Albennarle d Chesapeake— Securities
Exchange list February, 1880. Prest.,
—(See V. 30, p. 248.)
•
1870.
-Sales
or
1877.
1878.
1879.
$
Receipts—
$
$
$
6,495,428 4,638,872 5,229,266
43,415
44,313
39,100
coal
Canal tolls.....
Miscellaneous profits
Coal on hand (Dec. 31)
381,0-18
28,900
80,146
5,764,477
41,025
91,408
672,785
535,264
Railroad earnings in Peuri.
595,663
398,219
Interest on investments...
341,781
326,635
59,591
Balance
630,643
8,264,522 6,743.040 6,818,887 7,985,118
Total
$
Disbursements—
$
$
$
Coal oil hand Jau. 1
737,628
698,758
673,651
341,036
Coal purchased
120,599
* -..
Mining coal
2,754,778 2,077,370 2,264,228 3,003,893
Coal transportation, Ac...
488,073
542,156
618,252
641,951
Canai freight and expenses 1,032,431
820,438
759,349
933,768
Railroad freight, Ac
428,840
422,746
528,532
830,427
Interest
1,187,886 1,157,352 1,340,956 1,234,449
534,025
Taxes and miscellaneous.
596,780
406,883
350,916
005,367
Loss on leased railroads...
555,404
498,562
316,059
698,758
306,911
338,932
-
341,036
248,275
294,312
1,147,322
u .j ,
308,020
Balance
8,264,522
Total
GENERAL BALANCE AT
Assets—
6,743,040
6,818.887
CLOSE OF EACH FLSCAL YEAR.
$
$
$
7,985,il»
$
33,943
5,780
Revenue from rents
Profit realized from sales of real estate
Miscellaneous receipts
3,393
$1,183,848
Total
DISBURSEMENTS.
General and legal expenses
Rent and taxes Nesqucluming Valiev Railroud
Rent and taxes Delaware Division Canal
Taxes chargeable to canals
Taxes chargeable to coal and coal lands
Taxes on capital stock.
Taxes on landed property and improvements
Interest account
Deficit
.
...*
$51,333
138,000
118,867
1,730
49,179
14,131
12,411
923,958—1,309,612
$125,763
The President remarked: “ For the purpose of reducing our floating
debt and of providing means to meet other maturing liabilities, the
Board made sales during t he year of $793,000 of the compuuy’s con¬
solidated 7 per cent bonds, at an average of 88 per cent. Tbe improved
credit of the company, and the advance in tbe market price of its securi¬
ties, enabled the Board to avail of a provision in iho lease of the Nesquehoning Valley Railroad, and to reduce the dividends guaranteed by us
on the stock of that company.
The right was reserved to us in the lease
to retire the stock at par at any time after ten years, which expired in
November, 1878. We notified the company in July of our desire to
6,339,210 6,339,210 6,339,210 6,339,210
6,195,511 6,209,981 6,190,766 6,220,669
8,532,873 8,622,913 8,643,783 8,795,657
2,666,849 2,679,961 2,679,077 2,699,590 avail of this right, and the result of the negotiations that followed was
cent to 7 per
Goal-yard, barges, Ac
917,573
897,287
877,784 720,487 the reduction for five years of the dividends from 10 perthis company.
cent per annum from September 1, 1879, without cost to
Lack. & Susquehanna RR. 1,021,153 1,021,153 1,022,293 1,022,293
New York & Canada RR..
3,597,087 3,597,074 -3,597,074 The rent is thus reduced to $97,000 per annum—a saving of $41,000
from the
last year.” *
at
The floating debt
314,871
305,991
Gherry Val. & Sharon RR.
320,118
300,000 the close amount paid$1,000,000, and *- * “remain in the handswas the
of the year
of
there
672,785
•Coal on hand Dec. 31
698,758
341,036
535,264
.Advanoes to leased lines..
427,500
385,374
439,020
368,773 company $1,108,000 consolidated 7 per cent bonds in addition to the
Advances on coal royalties
521,179
605,326 18,900 shares of stock. The first installment of the debenture loan
581,289
617,246
Miscellaneous assets
8,088,714 4,438,512 4,295,445 M:,480,701 extended in 1877 matured, and was paid, on 10th December.” (V. 28*
■Telegraph, and Car Co....
54,675
69,410
69,410
69,410 p. 198, 224, 578; V. 30, p. 190; V. 31, p. 122, 454.)
Supplies on hand
1,319,604 1,089,853
958,667
878,000
Morris— Leased April, 1871, to Lehigh Valley Railroad for 999
Gash and bills receivable.. 2,687,821 1,926,694 2,314,268 3,140,116 years.
The lessees assume bonds and scrip, and pay 10 per cent
Profit and Loss
587,185 1,208,726 per annum on preferred stock and 4 per cent on consolidated stock.
199,660
Total assets
39,285,099 38,714,292 39,610,006 40,981,301 -(V. 12, p. 714.)"
Liabilities—
$
$
$
$
Pennsylvania.—Worked in interest of Pennsylvania Railroad, whioh
Stock
20,000,000 20,000,000 20,000,000 20,000,000 guarantees interest on bonds. An old mortgage of $90,000 is due fit
Bonds
15,116,000 17,010,500 18,333,000 19,837,000 1887. Earnings, $282,767; net, $107,924^ interest, taxes, Ac., $187,'*
003; deficiency, $79,079.
274,545
Sinking fund
Miscellaneous accounts... 2,846,230 1,703,792 1,277,006 1,144,301
Schuylkill Navigation.—Leased from June 1,1870, to Philadelphia &
Profit and loss
1,048,323
Reading for 999 years.
Rental received in 1879, $636,736. The
Total liabilities
39,285,099 38,714,292 39,610,006 40,981,301 dividend of August, 1879, was payable in Philadelphia A Reading Rail*
These miscellaneous assets iuelude the following: Boston Hartford & road scrip. (V. 22, p. 493; V. 26, p. 418 ; V. 30, p. 431; V. 31, p. 330,
Brie, 1,420 bonds, $1,254,268, less sinking fund, $435,738—$818,530; 551.)
Jefferson RR. bonds (108), $86,660; Albany & Susquehanna consols
Susquchanna.—Leased and
Philadelphia Ac Reading Rail
(610), $605,338; Delaware & Hudson Canal Co., 1,891 |bonds (746), road for interest on bonds andoperated byearnings
half of net
$746,000; sundry assets, $402,022. Stocks as follows: 9,000 shares
Albany & Susquehanna, $900,000; 8,241 shares Rensselaer A Saratoga,
Union—Stock, $2,907,950
$822,137; sundry stocks, $100,012,
Canai, &c
Railroad and equipment..
Real estate
Mines and fixtures
*
MISCELLANEOUS STOCKS AND
Subscriber* will confer a great
Date
of column headings, he., see notes on
first page of tables.
of
Bonds
1880
.
1874
Mnr(ipn£jft bonds (for $*2,800,000)
Canton. Improvement—Stock
Sterling bonds (sinking fund one-fifth of land sales)
~
crnld
riyp.h
1,000
1,073,000
783,000
500 &c.
500 &c.
1880
gold.
Inf,
mortgage (convertible)
mortgage consolidated, convertible
Cumberland final, d iron.—Stock
Cumberland if- Plk Link Coal—Stock
PeadwoodrTerra. Mining—Stock
1 at.
1864
1872
Dubuque Pridge.—Ronds, sinking fund
1,000
2,400,000
2,000,000
9*250,000
3,500,000
”<5*
%
1,000
100
100
100
10
10
TTtymedake Mining—Stock
Iowa ff P, Land do.—Stock.
Lfl Plata Mining if- Slmelti.ng—Stock
Z/eadrill*’ Mining—SIock
& J.
J.
•
•
•
N.
•
Q.-J.
pal,When Due
Stocks—Lhst
Dividend.
Dec. 1, 1880
Sept. 10,1877
Jan. 3, 1881
New York.
July 1,' 1905
Y., Company’s Office. May 17,1880
New York.
Dec. 30,1880
....
10 8.
7
Boston, Office,
J. &D.
do
Nov.
12,1872
June, 1884
*
6*g.
6 g.
6
6 g.
10 cts.
J.
J.
J.
M.
&
6 g.
2*3
’
'
New York
or
London.
Jan.” i’| 1904
Jan.
1, 1904
London.
New York, Office.
March, 1880
Jan., 1875
Aug., 1880
1900
'
Q.-F.
F.
M.
J.
J.
A.
London, Brown S. & Co.
New York,
....
*
7 scrip.
30 cts.
‘j.
& J.
& J.
& N.
& A.
& 8.
& J.
Office.
N.Y.,Company’s Ag’ncy
N.Y., Co.’s Office, 71 B’y Jan. 2, 1877
do
do
Jan., 1885
do
do
& J.
Jan. 1, 1897
& O.
New York, Office.
Oct. 15, 1875
7
387,000
6
753,000
6
500,000
1,000,000
25 cts. M’nthly
New York, Office.
Dec. 25,1880
10,000,000
M. & N. N. Y., at Ill. Cent. R. R.
8
400,000
Nov., 1893
25 cts.
10,000,000
M’nthly N. Y., Wells, Fargo & Co.
Sept., 1880
New York, Office.
Dec. 27,1880
10,000,000 30c,30cx M’nthly
Nov. 1, 1880
1^2
Boston, Treas. Office.
7,620,000
Q.—F.
New York, Office.
7*2 cts. M’nthly
2,000,000
(Dec., 1880
New York, Office.
2,000,000 -15 cts.
Jan., 1880
1,000
1,000
100
100
1868
Where Payable, and by
Whom.
Q-M. N. Y., Company's Office.
M. & 8.
New York, Office.
J. & J. N. Y., Company's Office.
10 cts.
10,250,000
100
........
Dunldth &
2*3
When
Pay’ble
10,000,000
100
Mining—Stock
Colorado Coat'd: Iron—Stock
600,000
1,000,000
100
10
100
Climax
10
100
....
Consolidation Coal of Maryland—Stock
2
2*2
575jOOO
1874
/for iR2.500.0001
£200
Caribou Consolidated. Mining—Stock
Central Arizona Mining—Stock
Central- Weir .Tersey Land—Stock
consol, mortgage,
Rate per
Cent.
1,500,000
18,000,000
10,000,000
5,000,000
1,000
10
5,000,000
100 .14,000,000
10
800,000
50
4,291,650
1,000
2,148,000
16*4
717,875
1873
Union RR..lst mort., end. (sink, fund,rentson $220,163)
2d M., g., end., (s. f. ground rents on $144,800)
do
1 «t
outstanding.
Value.
25
100
100
Am*e Consolidated. Mining—Stock
Atlantic
Pacific Te.Legraph— Stock
Jlofttiyn Land—Stock
Boston Water Power—Stock
MnrtiriurA linnrlo
or
par
Bond*—Princi
INTERE8T
Amount
Size,
$100 $12,000,000
A dams Express -—Stock
A African ‘ Coni i Mamla tld)—Stock
A mm*m Express—Stock
American Union. Telegraph—Stock
Rond«
[You xxxr.
Davor by giving immediate notice of any error discovered in these Tables*
DESCRIPTION.
For explanation
BONDS.
•
•
•
•
p. 464, (V. 27, p. 121; V. 29, p. 119, 432; Y. 30, p. 464; V. 31, p. 152,
reports; no information. (V. 31, p. 121.)
327.)
American Coal.—There are mortgage bonds for $114,300. The annual
Canton Improvement—The annual report for the year ending May 31 r
report for 1879 gives the following information;
1880, is in V. 31, p. 43. A brief history of the company was in V. 30,
Received for coal sold and delivered, earnings of canal boats,
rents and interest
$282,671 p. 117. Of the $2,500,000 mortgage, $600,000 is reserved to pay ster¬
Coal on hand, value
18,065 ling loan. The company owns the stock of the Union Railroad Company
and guarantees its bonds. (V. 27, p. 14; V. 29, p. 65; V. 30, p. 117;
Adams Express—No
$300,736
Canal and railroad transportation
Mining, superintendence, labor, &c
Chipping expenses, Alexandria, Baltimore and JereeyCity
Taxes
Bond and scrip interest to March 1,1880
Salaries, office and contingent expenses
[Legal expenses
28,130
43.)
has 1,400 feet on the vein.
Mining—No dividends yet paid.
Central New Jersey Land, Improvement.—The report says that during
the last six months of 1879 an active demaud sprang up for the com¬
5,455
7,064
13,169
254— 297,058
159
$207,843
Present surplus
p.
Central Arizona
$204,324
3,678— 208,002
Add gains, 1879
Deduct uncollectible claim
31,
Caribou Consol Mining—This company
$3,678
Gains, 1879
Cnrplus, December 31,1878
Total assets December 31,
$180,812
62,172
V.
1879—Lands and real estate at mines,
$1,542,365; real estate at Jersey City, $100,710; mine improvements,
$16,254; cash, $28,431; wharf improvement at Jersey City, $5,000;
personal property at mines, $33,731; personal property at wharves,
$3,335; bills receivable, $19,892; accounts, $62,246; canal boats,
$20,000; value of coal on hand, $18,065; office furniture, $513; Chesa¬
peake & Ohio Canal bonds, $9,000; C. & P. Railroad stock, $1,000; G. C.
&C. Railroad stock, $56,000; total, $1,916,545. Directors: James A.
Alexander, John P. Moore, Sidney Wintringham, Gardiner Lloyd, Ben¬
jamin Williamson, Richard S. Grant, William J. Boothe, A. J. Akin,
David Stewart. Gardiner P. Lloyd, President; George Sherman, Secre¬
tary and Treasurer. (V. 30, p. 221.)
American Union Telegraph .—This company, organized in 1879 under
the auspices of Mr. Jay Gould and associates, is making sharp oppo¬
sition to the Western Union. It is supposed to be started upon the
theory that a company with lines to main cities only, with compara¬
pany’s lands. A further reduction of $100,000 was made in the oapital
stock by canceling a thousand shares received in exchange for lands,
reducing it to $2,400,000. Of this amount outstanding the company
still owns $25,500, held for, the redemption of scrip as presented. The
dividend scrip has been reduced from $106,984 to $43,296, and as it is
desired to extinguish this scrip as speedily as possible, the request is
made to holders of the scrip that they will bring the same in for conver¬
sion into stock. The statement for two years ending December 31,1879,
shows total receipts in 1878 of $163,658 and in 1879 of $120,957. The
balance sheet December 31, 1879, gave the following values of lands
owned: Newark lands, $390,584 ; Bergen, $617,622 ; Elizabeth, $169,-
150; Westfield, $26,307; Fanwood, $479,633; Plainfield, $347,976;
Dunellen, $345,398; Somerville, $77,861; Clinton, $4,780; Bloombury,
$26,345; Phillipsburg, $861; total, $2,486,522.
Climax
(V. 30, p. 117, 221.)
Mining.—The, statement of the company to N. Y. Stock Ex¬
change, January, 1880, said that the whole stock was paid for the mine
and de velopments thereon. The property is located on Fryer Hill, Leadville, Col. There have been expended on surface improvements $25,000,
and on underground improvements $20,000.
The company has paid
$60,000 in dividends. Dividends paid monthly up to February. 1880;
then quarterly, beginning with May. The officers are: President, Hon.
David A. Wells; Vice-President, Mr. Samuel A. Strang; Treasurer, Mr.
William Bond; Secretary, Mr. W. B. Allen. (V. 30, p. 43.)
Colorado Coal <6 Iron.—This company, with headquarters at Colorado
Springs, Col., was a consolidation Dec. 13,1879, of the Central Colorado
Co., the Colorado Coal & Steel Works, and the Southern
tively few offices and small capitalization, can make such opposition to Improvement & Iron Co. The
Colorado Coal
company is controlled by Denver & Rio
the Western Union as to compel that company to buy it out at last.
Grande Railroad parties.
Stock is non-assessable. President, W. J.
It is Imilt by a construction company. In September, 1880, the stock
Palmer; Vice-President, C. B. Lamborn. (Vol. 30, p. 357, 675.)
was placed on the N. Y. Stock Exchange List, and for the statement then
made see V. 31, p. 327. Iu July, 1879. about $300,000 worth of stock, out
Consolidation Coal.—The annual roport for 1879 was published in the
of a capital of $1,000,000, of the Dominion Telegraph Co. of Canada, Chronicle of March 6,1880, and contained the following:
was purchased by the American Union Company, and in connection
The gross receipts from mines, railroads, rents, &e., (includ¬
therewith a lease was taken of the lines and property of the Dominion
ing value of stock of coal on hand) were
$1,614,945
Company for a term of 99 years. This connection gave an additional Total expenses of every kind (exclusive of interest and sink¬
12,000 miles of wire to the control ofthe American Union Company.
ing fund, but including steel rails and all extraordinary
A circular issued to subscribers to the Central Construction Company
outlays)
1,258.382
of the American Union Telegraph, December, 1880, announced that it
had been decided to raise a fund of $6,000,000 ror the purchase and lay¬
Net receipts
r
$356,563
ing of two cables between this country and Europe, to be operated in Net earnings after deducting interest on bonded debt for
connection with the American Union Telegraph Company.
Of this
1879 and sinking fund belonging to 1879, amounting to
fund $3,000,000 was reserved for the subscribers mentioned.
The
$239,692
116,870
money was to be called in 10 percent instalments, and every paid-up Interest on the funded debt for the year
161,653
subscription of $1,000 was entitled to a 6 per cent mortgage bond and —Consolidated
mortgage bonds are held to retire old bonds. Guarantees
ten shares of the cable company's stock.
(V. 29, p. 17, 461, 630; V. 30,
S.51.) 90, 410, 568, 600; Y. 31, p. 121, 258, 306, 327, 359, 3-3, 182,
66,
Mining— Stock is nonassessable. President, W. W.
McFarland; Vice-President, Hon. P. B. Plumb; Secretary, A. Ebert.
The financial statement, as made to Stock Exchange, will be found in V.
30, p. 356.
Amie Consolidated
Atlantic <6 Tacific Telegraph.—Pools with Western Union their gross
receipts, on the basis of 871a per cent to the West. Un. and 12^ per cent
to the Atlantic & Pacific. The expenses were arranged at 13-14^ per
-cent to Atlantic & Pacific and 86*85*2 per cent to Western Union. In
February, 1880, there were reports of a proposed consolidation and issue
of one share of Western Union stock for two of Atlantic & Pacific. (V.
27, p. 280, 627; V. 28, p. 452.)
Boston Land.—The capital stock of 80,000 shares of the par value of $10
each, or $8,000,000, has been placed on the N. Y. Stotk Exchange list.
The assets of the company are: Mortgages, loans and cash on Jan. 1,
1879, $89,085; Revere Beach Railroad stock, wharf in East Bostbn,
valued at $17,090; land in East Boston and Revere, about 800 aores,
unincumbered, estimated at $2,090,880; total, $2,197,055. There are
no debts.
(V. 29, p. 510, 537; Y. 30, p. 90,117.)
Boston Water Poxoer.—The shares have strictly no par value.
are
the
on
There
85,833 shares called “ proprietary" shares, or the number into which
property of the company is divided, the assets consisting of lands
and
near
51
“ Back
Bay," in Boston.
Statement of assets, &e., in V. 30,
also bonds of the Cumberland <fc Pennsylvania, and assumes $135,000
the Union Mining Company’s bonds.
(V. 28, p. 301; V. 30, p. 247.)
of
Cumberland <6 Elk Lick Coal.—Admitted to Stock List January, 1880.
A coal company of Somerset County, Pa.
Bonded debt outstanding
only $17,000; no floating debt. Alex. Shaw, President, Baltimore.
Dcadwood Mining—The stock
is on the N. Y. Stock Exchange list.
The
property is located in Whitewood District, D. T., consisting of the north
segregated 1,000 ft. of the Golden Terra lode, and the north segregated 500
feet or the Ophir lode. The average monthly bullion
$37,817, and the average monthly expenses $10,236,
product had been
leaving an average
monthly profit of $27,581. The officers are: President, Joseph Clarke;
Vice-President, J. B. Haggin; Secretary, J. K. Goodrich. (V. 30, p. 66.)
Excelsior Water J Mining.—Stock placed on New York Stock Exchange
list Nov., 1879. (See V. 29, p. 511.)
Homcstake Mining.—Property in Whitewood District, D. T., consisting
of Homestake and Golden Star mines, 1,350 feet long by 450 feet wide
on the vein; one 80-stamp mill and one 120-stamp mill; value, $500,000.
Receipts to January 1, 1880, $1,172,000; expended in development,
construction, &c., $800,000. Present capacity of mill, 400 tons per day.
Monthly dividends 30 cents per share. Officers: President, Lloyd Tevis;
Vice-President, R. P. Lounebery; Treasurer, J. B. Haggin; Secretary,
J. K. Goodrich.
Iowa Railroad Land.—The total land
March 31,1880, and the company had for
to oilier companies.
owned
was
451.609
acres
sale 428,133 acres belonging
December,
MISCELLANEOUS
1880.]
Subscribers will confer a great ftvor
by giving immediate notice of any error discovered in these Tables.
DESCRIPTION.
For
Date
Consolidated Mining—Stock
Mariposa Land £ Mining—Stock
Preferred stock
1875
Mortgage bonds (lor $500,000)
Maryland coal—Stock
Bonds
Maryland Union Coal—Stock
Woiitauk Gas Coal—Stock
New Central Coal—Stock
New York £ Straitsville Coal £ Iron— Stock
New York £ Texas Land—Stock
Land scrip receivable 75 per cent for lands
Debentures, registered
Ontario Silver Mining—Stock
Oregon Railway £ Navigation—Stock
Mortgage bonds, gold
*...
Pacific Mail Steamship—Stock
Pennsylvania Anthracite Coal—Stock
1st mortgage (east side) bonds on 1,053 acres
1st mortgage ( west side) on 400 acres and 550 leased—
Pennsylvania Coal—Stock
1st mortgage bonds
Producers' Consolidated Land <6 Petroleum Stock
Pullman Palace Car—Stock
Bonds, 2d series
Bonds, 3d series
Bonds, 4th series
Bonds, debenture
or
Par
Amount
1*000
1,000
50
*ioo
100
1871
1872
1872
1878
1875
1,000
1,000
1,000
; Var’s.
1,000
1878
debenture, convertible till April, 1381
Quiclcsilver Mining—Common stock
Bonds, sterling
Preferred stock
Railroad Equipment Co.—Stock
Coupon bonds
St. Louis Bridge £ Tunnel RR.—Bridge
1st mortgage, new, sinking fund
Tunnel RR. of St. Louis, stock
1,000
100
1861
1,000
..
—
1,000
£100
100
100
Consolidated Mining.—The general manager, in liis
report of operations for the year ended Dec. 31, 1879—covering only
eight months actual operation—gave the following figures:
receipts
Surplus
To the surplus
should bo
...
$306,370
850,000
$1,316,600
26,000—1,182,370
$164,236
added about $10,000 due for ore delivered and
unsettled for during the year. There were 23,187
from which a bullion product of $1,800,000 was
tons of ore produced,
estimated.
The re¬
port of Professor Raymond in April, 1880, was. in substance, that the
old ground was worked out by February, 1880, and the value of the
mine
was
depends on new beds of ore to be found, of
good. (V. 30, p. 67, 273.)
which the prospect
very
suit of Jos. A. Douahoe for foreclo¬
sure of the mortgage was before the courts Sept, 1880.
(V. 31, p. 248.)
Maryland Coal.—N. 24, p. 226; V. 26, p. 95.
Maryland Union Coal—Stock placed on N. Y. Stock Exchange, Aprilt
1880. See statement V. 30, p. 466. President, John White, New York]
New Central Coal (Md.).—The annual report for 1879 has the following:
STATEMENT OF PROFITS FOR THE YEAR ENDING DECEMBER 31, 1879.
December 31,1879, balance to credit of coal account
$1,053,712
Mariposa Land £ Mining—The
December 31,1879, coal on
Less freights and taxes due
$81,584
16,618—
hand, at cost.
64,965
$1,118,678
Deduct amount paid for
railroad and canal freights and tolls,
mining, office and shipping expenses, salaries
Net earnings for the year
Balance to credit of profit and
Deduct—
Add—
Net earnings
and interest.. 3,036,787
$81,890
loss December 31,1878
Dividend paid January 22,1879
Amounts charged against profit and
1879-0
When Where Payable, and by
Whom.
Payable
New York,
50 cts.
J. & J
Jan. 1, 1886
.Tan. 1, 1876
Nov. 1. 1906
New York.
M’ntlily
New York.
7
Jan.
15, 1881
April, 1880
7
oO cts. iM’nthly N. Y., Wells, Fargo &
New York.
2& 10 s.! Q.—F.
6 g. J. & J. N.Y., Farm. L. & Tr.
3
Co.
Co.
loss during ’79
$100,000
11,905—
$244,530
1900
Dec. 15, 1880
Nov. 1, 1880
July 1, 1909
Sept., 1868
D. N. Y., 4th National Bk. June 1, 1892
June 1, 1892
& D.
Nov. 2, 1880
N. Y., Ill Broadway,
Q.-F.
do
do
F. & A.
Aug. 1, 1881
1877
New York, Office.
Q.-J.
Q.-F. N. Y., Farm L. & T. Co. Nov. 15, 1880
do
do
May 15, 1831
Q.-F.
Feb. 15, 1887
do
do
Q.-F.
dp do
Aug. 15, 1892
Q.-F.
do
do
Oct. 15, 1858
A. & O.
A. & O. Lond’n, J.S.Morgan&Co April 1, 1885
J.
J.
472,500
,
2,500.000
5.990,200
328,000
415,000
820,000
767,000
116,000
5,708,700
4,291,300
N, Y., Clark, Post & M.
2*2
do
do
<0
7,990,000
5,000.000
6
Quar’ly
7*
2*2
A. *& O. New York and London.
London.
A. & O.
to an
Stocks—Last
Dividend.
March, 1880
Office.
Hu
500,000
Little Pittsburg
Ore
1,500,000
6,000,000
322,515
10,000,000
6,600,000
6,000,000
20,000,000
2,000,000
1,000,000
500,000
5,000,000
pal,When Due.
1.250,000
stock
Total expenses and charges
Dividends paid
Real estate purchased
Cent.
2,500,000
5,000,000
1,500,000
100
100
1872
1872
Rate per
$100 $20,000,000
100
10,000,000
100
5,000,000
(?)
1,000
100
4,400,000
171,000
1,000
100
5,000,000
100
100
100
50
1879
Bonds—riuuoi-
INTEREST OR DIVIDENDS.
Size,
of
explanation of column headings, <fcc., see notes on first
Bonds! Value. Outstanding
page of tables.
Little Pittsburg
lxi
BONDS.
STOCKS AND
Aug., 1880
Various.
April 1, 1928
Oct.
15.1880
inspection of the steamers within 90 days; and the Pacific Mail
Company gave up to the Union and Central Pacific railroad companies
its China line. (V. 30, p. 249.)
Report for 1879-80, in V. 30, p. 56*5.
The following is a statement of t.he earnings and expenses for the
years
ending April 30, 1879 and 1880:
Earnings.
-
:
Atlantic line.
Panama line
Victoria line
Trans-Pacitic line
Australian Hue
Honolulu line
Australian and New Zealand subsidies
Central American and Mexican subsidies
British Columbia subsidy
Hawaiian Government subsidy
Interest and dividends on investments
.
Tug Milieu Griffith (net
Miscellaneous
1879.
$581,536
-1,486,571
237,918
920,167
324,282
26,804
217,120
164,938
1880.
$600,915
1,531,677
201.978
930,657
321,213
19,274
176,410
118,366
38,000
6,500
12,464
3,110
28,587
$4,054,560
..
$3,909,882
...
38,000
11,692
13,224
13,023
earnings)
Total receipts.
Expenses.
Atlantic line, running expenses...
Panama line, running expenses
Victoria line, running expenses.
Trans-Pacific line, running expenses.
Australian line, running expenses—
Honolulu line, running expenses
^
$432,373
1,136,716
261 826
647,520
411,001
38,782
362,111
362,412
Agencies
Extra and miscellaneous
$474,598
1,127.800
273,591
568,570
376,669
833,852
364,738
$3,519,821
$3,652,745
450.061
401.815
(V.28, p. 42, 97, 402, 552, 554, 580; V. 29, p. 512; V. 30, p. 249, 565.)
Pennsylvania Anthracite Coal.—Stock an:l bonds admitted to N. Y.
Stock Board Feb., 1877. Company failed Feb., 1879. (V. 24, p. 112.)
Pennsylvania Coal.—Liabilities at a minimum, and 12 p. c. dividends
paid. Payment of bonds will be anticipated, if desired.
Total expenses
Net profits
—
111 ,905
$132,624
for 1879
81.890
Balance to credit of profit and loss December 31,1879
$214,515
‘Note.—The strike of the miners, lasting from September 1 to October
8, caused a suspension of mining during that time, increased the cost of
the coal, and reduced the company’s production and profits for the year.
Officers for 1880: Malcolm Sinclair, President; William S. Jacques,
Vice-President; Philo C. Calhoun, Treasurer; Geo. II. Adams, Secretary.
—(V. 26, p. 536; V. 30, p. 220.)
New York £ Straitsville Coal £ Tron.—Has $300,000 bonds.
The stock
admitted to New York Board April, 1880. (V. 30, p. 409.)
New York £ Texas Land—This company owns the lands granted to the
International and Houston and Great Northern Railroads, about 5,000,000 acres, which were given in settlement to the holders of converti¬
ble and second mortgage bonds. Each holder of a $1,000 bond and
unpaid coupons receives $300 stock and $1,200 land scrip of this Co.
—(V. 30, p. 519; V, 31, p. 511.)
Ontario Silver Mining.—This company was incorporated under the
laws of California, December 16, 1876, with full paid capital stock of
100,000 shares of $100 each. The property is located at Parley’s Park,
Salt Lake City, Utah, and consists of the Ontario
mine, 1,500x200 feet, the Switzerland, 1,500x200 feet adjoining cast,
32 miles southeast of
and mill site of three acres adjoining north. On January 26, 1877, the
40-stamp mill of the company was completed. From that time up to
January 1,1880, the Ontario produced bullion to tbe value of $5,447,885, from which it paid all expenses; dividends to the amount of
report V. 31, p.327. The income ac¬
ending July 31, 1880, showed total receipts of $2,635,468, against which were charged the following disbursements:
Pullman Palace Car— Annual
count for year
Operating expenses, including legal expenses, general taxes
and insurance, maintenance of upholstery and bedding
(including leiised lines), and rebuilding association cars....
Rental of leased lines
Coupon interest on bonds
Dividends on capital stock
$955,047
264,000
$168,979
472,876— 641,855
Total
$1,860,902
$774,565
Surplus for t he year
For five years past, ending J aly 31, a comparative exhibit of the receipts,
expenses, profits, and surplus applicable to dividends, shows as follows :
Profits.
Interest,
rentals, &c.
Surplus.
$1,564,801
$514,269 $1,0-50,532
985,072
493,579
1,585,567
1,091,988
1876-7....
2,570,63:)
451,866
830,386
1,282,252
878,578
2,160,830
429,890
1,238,269
808,379
958,465
1878-9....
2,196,731
955,047
1,247,442
432,479
1,680,421
2,635,468
-(V. 26, p. 217; V. 27. p. 302; V. 28, p. 200; V. 29, p. 229,651; V.
31, p. 327, 359, 383.)
Revenue.
1875-6... .*$2,555,011
Expenses.
$990,210
-
..
Quicksilver Mining.—Bonds paid off July, 1879. Validity of [►referred
$2,550,000; made permanent improvements of over $1,000,000 in
cash surplus and over 3,500 tons of ore, that stock sustained by N. Y. Court of Appea's, and in March, 18^0, the
will average $150 per ton, on hand oil that date. The equipment is very prof, stock was adjudged $2,68 5,281, or $62 52 to cacti shar", but this
complete and affords facilities for mining to a depth of 1,500 feet. Ail was modified, by after decision. (V. 39, p. 314. 409. 46J; V. 31, p. 124.)
Railroad Equipment Co.—This company sells equipment to railroads
product had been from some 1,300 feet of the Ontario mine alone, and
above the 600-foot level. The monthly dividends have been 50 cents on monthly payments covering principal and interest for 6 ) months or
i
The title remains in the seller till last payment is made. Clark,
per share, with frequent extra dividends of same amount. New York less
office of the company, 31 Broad street. J. B. Haggin, President.
Post & Martin, financial agents, New York.
St. Louis Bridge £ Tunnel Rai road.—Net income in 1876-7, $219,777 :
Oregon Railway £ Navigation.—Stock and bonds placed on New York
Stock Exchange list November, 1379. Net earnings year ending June 1877-8, $219,59 s 1878-9, $269,697.
The railroad and tunnel were
30, 1880, $1,657,230. A proposal to issue $6,000,000 new stock was to sold under the mortgage of 1873, July I, 1878. for $450,000. Foreclos¬
be.voted on Oct. 20, 1880.
(V. 29, p. 512; V. 30, p. 289, 409 ; V. 31, p. ure under the first and second mortgages on the bridge was made Dec.
196,329,313, 429,511.)
20, 1878. The above mortgage and $7,990,000 in stock are issued
Pacific Mail Steamship.—In February, 1880, an agreement was re¬ under the reorganization. Of the stock $2,490,000 is first preferred,
ported between this company and the Pacific Railroads, by which the $3,000,000 second preferred, and $2,500,000 common. The common
railroad company is to give to the steamship company a monthly subsidy stock is licdd by the London Reorganization Committee. The coupons
of $110,000, as against $60,000 formerly. The contract is for five years, due October, 1878, 1879 and 1881 on first mortgage bonds to be made in
and applies only to California business.
It is understood that the same bonds in April, 1881. The bridge and tunnel are worked together
steamship company is to inaugurate a sinking fund of $10,000 per and the net earnings dividod in the proportion of five sixths io the
month out of the subsidy money, which will more than liquidate the bridge and one-sixth to the tunnel up to $150.9000 and all over that
debt due the Panama Railroad maturing in annual instalments from amount nine-tenths to bridge and one-tenth to tunnel. In 1879-80 the
October, 1884, to October, 1888. The railroad companies purchased the gross earnings were $897,697; net earnings. $392,837. (V. 26, p. 420,
China line steamers City of Pekin and City of Tokio for $1,200,000, 524; V. 27. p. 17, 227, 435, 461, 677; V. 28, p. 224; V. 29, p. 190: V
.payable in monthly instalments of $100,000, the purchase being subject 30. p. 023.)
value, with a handsome
.
MISCELLANEOUS
STOCKS
AND
BONDS.
[Vol. XXXI.
rr
Subscribers will confer a great favor
by giving immediate notice of any error discovered in these Tables.
-
DESCRIPTION.
For explanation
Date
Size, or
Telegraph—Guaranteed stock
Amount
„-....
1879
Mortgage bonds (for $2,000,000)
United States Express—Stock
United States Rolling Stock—Stock
$948,000
2*3
50
100
10
Standard Consolidated Gold Mining—Stock
fSulrn Tunnel—Stock
1.500,000
3Lj
Too
Too
Wells, Fargo d Company Express—Stock
Western Union Telegrdph—Stock
Real estate bonds, gold, sinking fund
Bonds, coup, or reg., conv. till May, ’85, sink. fd. 1 p.,ct.
Sterling bonds, coupon (sinking fund 1 p. ct. per annum)
Rate per
Cent.
$25
....
Spring Mountain Coal—Stock, guar. 7 per ct. by L. V.....
100
1872
1875
1875
1,000
1,000
—...
i.
....
,.«i
Bonds—Princi¬
INTEREST OR DIVIDENDS.
of
Par
of column headings, &c., see notes on first
Bonds Value. Outstanding
page of tables.
Southern d Atlantic
-
Where
Payable, and by
Stocks—Last
JVliom.
Payable
Dividend.
A. & 0. N.Y.,
J. & D. N. Y.,
West. Union Tel.
Company’s Office.
N, Y., Nevada Bank.
Oct., 1880
Dec. 10, 1880
Dec. 13, 1880
10,000,000 75c.,75x. M’nthly
18,920,000
London.
Jan. 1, 1891
600,000
*
"i*
New York, Office, v Nov. 15, 1880
7,000,000
q'-f.
M. & S. New York and London. Sept 1, 1880
1*4
5,000,000
4
J. & J.
New York, Office.
Jan. 15,1881
6,250,000
1
.
New York, Office.
Jan. 15,1881
41,073,410
Q.-J.
N. N. Y„ Union Trust Co.
1,373,000
■Z* M. & N. N. Y., Treasurer’s Office May, 1902
M. &
3,920,000
May, 1900
6 g. M. & S. London, Morton, R.& Co March 1,1900
961,308
118865--324907
£100&c
When
pal,^When Due.
.
..
.
.
406,
Spring Mountain Coal Co—This is guaranteed 7 per cent per year till The the following was given for the fiscal year ending June 30, 1880.
revenues, expenses and profits (after reserving amount sufficient
Railroad.
to meet the claims of the Atlantic & Pacific Telegraph Co. under exist¬
Standard Consolidated Mining.—This company was incorporated ing agreements) were as follow’s:
1885 by Lehigh Valley
under the laws of California, April 7, 1877. The property embraces an
area contained within the surface lines of a parallelogram 1,200 by
1,500 feet, situated on the southern slope of Bodie Bluff, in the Bodie
mining district, Mono County, California. Title, United States patent.
1879-80.
Revenues
accruing to this company
Expenses chargeable to this company
1878-79
$11,738,094 $10,078,097
6,591,455
:
5,809,119
Improvements consist of a 20-stamp steam pan-mill of 60-ton capacity,
Net profits
$5,146,639 $4,269,778
Also a half interest in the Bulwer Standard Mill,
From which there wrae applied—
completed in January, 1880, at a cost of about $150,000. This is a 30- For dividends (8 per cent)
t
$3,280,276 $2,295,304
stamp mill of 90-ton capacity, giving the Standard Company, with their For interest on bonds
s.
428.516
430,528
own mill, a reduction capacity of over 100 tons per day,
There are two For sinking funds appropriations.]
40,000
40,056
seta of steam hoisting works, one costing $5,000 and the other something
over $100,000.
The total number of tons of ore extracted and reduced
$3,748,793 $2,765,889
up to Jan. 1,1880, was 56,000, the yield from which being $3,360,000, Surplus of net earnings for the year over divi¬
all with the exception of about $200,000 being in gold; the ore averages
dends, interest and sinking funds appropria¬
$60 per ton. Cost of mining, $7; milling, $5 per ton. The average
tions was
$1,397,846 $1,503,888
monthly product recently has been $130,000. Of the total product of
With the surplus on hand at the beginning of the fiscal year, July 1,
the mine stockholders had received in dividends to January 1, 1880, 1879, the result for 1879-80 is as follows :
$2,017,776. The entire width of the claim—1.200 feet—is said to be The surplus July 1, 1879, was
$772,469
seamed with well-defined parallel ledges, varying in width from two to Add surplus for year as above
1,397,846—$2,170,315
twenty-five feet. Office of company. San Francisco, Cal. President, For construction of new lines and erection of
Daniel Cook; Vice-President, M. K. Cook; Secretary, William Willis.
additional wires
$1,123,584
Financial Agents, Dickinson Bros., Bankers, 43 Exchange place, N. Y.
For purchase of
sundry telegraph stocks,
patents, real estate, &c
643,476— 1,767,060
Sutro Tunnel —Tunnel on Comstock Lode for facilitating mining oper¬
ations. New management elected March, 1880.
Annual report pub¬
Surplus July 1,1880.
$403,255
lished in Chronicle of April 24, 1880. See V. 30, p. 249. (Y. 27, p.
This balanoe, together with the balances of previous years, is rep*
529 ; V. 28, p. 147, 224, 302; V. 30, p. 249, 432.)
valued at $100,000.
United States Express.—No reports.
United States
145.
Rolling Stoek.—Soa reports, V. 26, p. 289; V. 28, p.
Wells, Fargo d Company Express.—An
was made in 1879.
(V. 28, p. 18.)
000
increase in capital to $6,250,-
TYestern Union Telegraph—On the practical consolidation with the
Atlantic <fc Pacific in 1878 the Western Union had a monopoly of tele¬
graphing business in the United States. In 1879 the American Union
opposition line was started under the auspices of Mr. Jay Gould. The
Western Union Co. divided up its surplus stock, making a scrip dividend
of 17 per cent to stockholders of record June 20,1879. The last quarter¬
ly statement for the quarter ending Jan. 1, 1881, had the following:
1880.
1879.
$198,129
Surplus Oct. 1
Net profits for the quarter ending Dec. 31, esti¬
mating the business for Dec. (reserving amount
$1,143,873
951,806
1,529,169
sufficient to meet the claims of th'j Atlantic
& Pacific Telegraph Co., under existing agree¬
ment), about
$2,673,042
107,000
250,000
20,000
25,000
107,425
256,468
20,000
53,624
Total disbursements
$102,000
$437,517
balance of
A dividend of 1 l> p. c. 1880,
$747,936
615,061
$2,235,526
1,127,596
appropriating—
Interest on bonded debt
Construction
Sinking fund appropriations
Purchase of
Leaves
telegraph stock and patents
a
and 13* $-1 ex. ’79.
Deducting which, leaves a surplus, after paying
dividend, of
$132,874
From
the
annual
.
resented in the profits and disbursements of the company, for fourteen
years, from the date of the general consolidation—July 1,1866:
The surplus of income account July 1,1866,was
$275,357
The net profits for thirteen years, from July 1,
18^6, to June 30, 1879, w ere
$1,107,930
report published in the Chronicle, V. 31, p.
45,350,241
Making an aggregate June 30, 1880, of
During this period there was applied—
For dividends, interest, &c
$45,625,598
28,656,595
Leaving a surplus of
$16,969,003
—which is represented by construction and purchase of new lines, stock
in other companies, &c.
The following statement shows the mileage of
lines and wires, number of offices, and trafflo of the company, for each
year
from June 30, 1866, to June 30,1879:
Miles of
Line.
Years.
$1,149,936
Total receipts
From which
...
..
..
..
..
..
..
..
..
...
..
..
..
..
..
..
Miles of No. of
Wire. Offices,
No. of Messages Sent.
37,380
75,686 2,250
85,291 2,565
46,270
5,879,282
50,183
97,594 3,219
6,404,595
7,934,933
52,099 104,584 3,607
54,109 112,191 3,972
9,157,646
56,032 121,151 4,606 10,646,077
62,033 137,190 5,237 12,444,499
65,757 154,472 5,740 14,456,832
71,585 175,735 6,188 16,329,256
72,833 179,496 6,565 17,153,710
73,532 183,832 7,072 18,729,567
76,955 194,323 7,500 21,158,941
81,002 206,202 8,014 23,918,894
82,987 211,566 8,534 25,070,106
85,645 233,534 9,077 29,215,509
i
Net
Receipts.
6,568,925
7,004,560
7,316,918
7,138,737
7,637,448
8,457,095
9,333,018
9,262,653
9,564,574
10,034,933
9,812,352
9,861,355
10,960,640
12,782,894
Receipts.
2.624.919
2,641,710
2,748,801
2,227,965
2,532,661
2,790,232
2,757,962
2.506.920
3,229,157
3,399,509
3,140,127
3,551,542
4,800,440
5,833.937
@FedFRASER