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O:f' TH.E ComMERCIAL & FINANCIAL CHRONICLE. [Entered according to act of Con~ess, in the year 1885, by Wx. B. D.uu. & Co., in the office of the Librarian of Congress, Waahlngton, D. C.] VOL. 41. INVESTORS' NEW YORK, DECEMBER 26, 1885. SUPPLEMENT. TERMS: The SUPPLEMENT is published on the last Saturday of every other month-viz., February, April, June, August, October and December; and one copy of each issue is furnished, without extra charge, to all i'erular subscribers of the COMMERCIAL AND FINANCIAL CHRONICLE. Additional copies of any issue are sold to subscribers at fiO cents each, and to persons not subscribers at $1 each. No subscriptions are taken for the lNvESTORS' SUPPLEMENT apart from the UHRONICLE. Annual @ubscription price to the CIIRONICLE, including the INVESTORS' SUPPLEMENT, is $10 20. WILLIAM B. DA.NA. & CO., Publishers, 79 ~ 81 William Street, New York. RAILROA.D JJIVIJJE.NJJS .FOR. SEVEN YEARS. In accordance with a previous custom, the present article upon dividends is brought forward in this the closing issue of the SUPPLEMENT for the year. The table at the -end includes th~ dividends paid for a number of years past on all railroad stocks sold at any of the four leading exchanges-those of New York, Boston, Philadelphia and Baltimore. The record should be more than ordinarily valuable this time, since under the various adverse influences at work the changes in railroad dividends in recent yea.rs have been unusually numerous, and to know what a company paid a couple of yea.rs ago, or even a year ago, is by no means to know what it is paying now. Some of the more prominent companies have been obliged to alter their rate of distribution with each succeeding dividend period, and this makes it necessary for the investor to follow the :subject with a greater degree of care and attention. Moreover, it is very interesting and instructive to see the -effects of the period of depression through which we have passed, as reflected in this dividend barometer of our railroads. The feature of the exhibit of course is that the descent from the high level of dividends which was noticeable a. year or two ago has now become very pronounced, not a few companies having been obliged to suspend altogether. 'The first stage in the downward movement was seen when -companies like the Wabash, the Oregon Trans-Continental and the Denver & Rio Grande--0ompanies whose divi•dends rested on a very unsubstantial 1>asis-were com• pelled to stop payment. The later and more serious stage tis seen in the decline, reductions and suspensions of the stronger companhs, some of which but a short time since were considered to be on a virtually impregnable basis. The intervening stages mark the decline of companies of ivarious degrees of strength, which under the constant and unremitting pressure of diminishing earnings and more •slender profits, have one after another been compelled to •b ow to the inevitable, and either lower their basis of dis·tribution or else discontinue dividends altogether. If one would know the extent to which the downward movement has progressed, he need only be told that the ..Pennsylvania, which in both 1882 and 1883 pa.id 8½ per https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis cent, has now come down to 2 per cent semi-annual ; that the New York Central, which through all the years since its consolidation, up to 1884, paid 8 per cent per annum, is now paying one -half of one per cent quarterly; that the Central Pacific and Union Pacific, both regarded with favor as dividend-payers some yea.rs ago, now return nothing to their holders ; that the Lake Shore & :Michigan Southern, from paying 8 per cent, has likewise come down to nil; and that even such roads as the Chicago & Northwestern and the Chicago Milwaukee & St. Paul, having large earnings and a territory of undeveloped resources of great magnitude to sustain them, have considered it prudent to lower dividends. These are merely types of companies of the more prominent kind in different sections of the country. Among the minor companies the effect has been, if not more disastrous, at least more apparent. The Michigan Central and the Canada Southern a.re paying nothing; neither is the Cleveland Columbus Cincinnati & Indianapolis, nor the Erie (on its preferred). The dividends on Oregon Trans-Continental and Oregon Improvement rested at the the very first on a very uncertain foundation, but the failure of their continua.nee marks a failure of expectations which bas hardly been less disappointing to those in- · terested in these companies·than the reductions and suspensions of dividends by the stauncher roads, East and West. Of equally short duration were the dividends of such. companies as the Cincinnati New Orleans & Texas Pacific, the Norfolk & Western (on the preferred), the Columbus Hocking Valley & Toledo, the Columbia. & Greenville (preferred), the Keokuk & Des Moines (preferred), the Chicago & Eastern Illinois, the Central of New Jersey, &c. On some of these, of coarse, the change is in part at least ascribable to special causes or circumstances. The Central of New Jersey dividend, for instance, had nothing to rest on except the promise of the Reading, which proved but a fleeting shadow. The Columbus Hocking Valley & Toledo had serious and prolonged troubles with its coal miners to contend with. The Chicago & Eastern Illinois had legal obstacles, involving the title to its property, to fight against. In a preliminary article in the CHRONICLE last week, we made a comparison of dividends of the prominent com• panies by groups or geographical divisions, and found that the Eastern trunk lines and the Pacific roads had suffered most, that Southern roads had likewise done poorly, that the North western section had done very well, a.nd that the Eastern, or New England, section exhibited marked · stability. Every one understands by this time why the trunk lines make the worst showing. The construction of arallel lines, like the West Shore and Nickel Plate, and INVESTORS' SUPPLEMENT. 2 other competing roads or extensions, like the Lacka· wanna to Buffalo, and ~he Erie (Chicago & Atlantic) to Chicago, increased not only the number of competitors for trunk line business, but precipitated a war of rates unparalleled in severity and most disastrous in effects. The Pacific roads have been affected in a not materially different way, The completion of the Atchison, the building of the N orther.u Pacific on the north and the Southern Pacific, Texas Pacific and Atlantic & Paciijc on the south, with the extension of the Burlington & Quincy to Denver and.the Denver & Rio Grande to Ogden, all combined to take away the profits of the older route, composed of the Central Pa~ific and Union Pacific-competition increased, rates diminished, and tbe growth of traffic was not sufficient to make up the deficiencies, and the mineral regione, in some instances, as quickly sunk into oblivion, as they had previously risen into prominence. In the Northwest the growth was more decided, and the soil being very fertile, and the drift of immigra. tion that way having greatly added to ,the population, the roads in that district have been able to give a very good account of themselves, though they, no less than the roads in other districts, have a greatly increased mileage and a greatly increased number of competitors to contend against. In the South, the difficulty bas been that the cotton crop was short for two seasons and that . . . tbe~e were .so man! new h~es to divide th e busmess. This latter circumstance 1s not generally appreciated in its full significance in the case of Southern roads, but to become impressed with its importance let any one co□ pare a map of five years ago with a map of to-day . . . . ' and see for mstance how the Louisville & Nashville fares in this respect, both at the Cincinnati end and the New Orleans end. A class of roads which in 1885 fared very badly com. [VoL. XLI. IOntonagon omitted dividends on preferred and common alike; the Flint & Pere Marquette made the July, 1885, semi•annual dividend only 2 per cent, against 3½ before; the Detroit Lansing & Northern made the same change in its preferred dividend in August, and passed that on th& common altogether, and the Chicago & West Michigan bas paid nothing since the l½ per cent semi-annual paid last February. Among roads in other sections, it may be mentioned that the Kansas City Fort Scott & Gulf also passed its last dividend on the common stock. The Canadian Pacific is now paying only the 3 per cent per year guaranteed by the Dominion Government, the 2 per cent extra out of company's earnings having been omitted. The Panamar of whose stock very little remains outside the };lands of the Canal Company, after paying several semi-annual dividends of 8 per cent eacb, made the July, 1885, distribution 2 per cent, giving 10 per cent for the year 1885, against 16 per cent in 1884. But there is also a brighter side to the dividend recordr or at least there are some roads which by their improved returns, relieve the picture somewhat of its gloomier aspect. Note, for instance, that the Northern Central has become a regular 8 per cent stock, that the Long Island has suffered no _interruption of its 4 per cen_t :ate,. the ~tchison of its 6 per cent rate, the Cmcmnat1 Hamilton & Dayton, and the Maine CentraJ, of the same rate, while the St. Paul & Duluth on its preierred, and the St. Louis & San Francisco on its first preferred, are both paying 7 per cent, and the Missouri Pacific is also paying 7 per cen~ ; an.d the Pacific. Mail Steamship ~o~pan:y: (a comt,etmg lme to the. Pa_c1fic roads) has marntame~ 1t~ 5 per cent rate. The W 1lmmgton & Weldon and the W llmmgton Columbia & Augusta have for four years now paid 8 and 6 per cent respectively. As a further encouraging feature in this same regard, it may be mentioned that both the pincinnati Indianapolis St. Louis & Chicago (Big Four) and the Evansville & Terre Haute have again resumed prises the lines situated in Michigan, which have been dividends, and that the Oregon Navigation has declared adversely affected by the depression in both the lumber an extra dividend of one-half per ~ent in addition to the and mineral industries. The Marquette Houghton & regular l½ per cent quarterly. DIVIDENDS ON RAILROAD STOCKS-NEW YORK, BOSTON, PHILADELPIDA AND BALTIMORE. Name of Company. NEW YORK. Aluany & Susquehalllla (leased) Belleville & So. ID. (leased),pref. Boston & N. Y. Air Line, pref .. Ca.nada Southern ..•...•......... Canadian Pacifl.o . .............. . Central of N ew Jersey .....•... Central Pacific .............. . .. . Chicaf>~ & Alton Chicago & Eastern Illinois .•... Chicago & Northwestern ......•. Do do pref ... Chicago Milwaukee & St. Paul. Do do pref. Chicago Burlington & Quincy .. Chio. Rock Island & Pao ....... . Chio. St. P. Minn. & Om., pref .. Cincinnati Hamilton & Dayton. Do do pref. Cincinnati N. O. & Texas Pac ... Cinn. Indianap. St. Lol!lis & Chic. Cleve. & Pittsb., guar. (leased}. Cleve. Col. Cin. & Indianapolis . Columbia & Greenville, pref .. . Col. Hocking v~. & Toledo .... . Danbury & Norwalk ........... . Delaware & Hudson Canal ..•.. Delaware Lack. & Western ... . Denver & Rio Grande ......... . Dubuque & Sioux City (leased). Erie & Pittsburg (leased) ...... . Evansville & Torre Haute ..... . Georgia (leased) ...............•. [ lJapmbal & St. Joseph, pref .... llarlem(l'sed) incl.4th Av.RR.- pref::::::::::: Di ddend Periods. 1879. 1880. Jan. and July. May and Nov. 7 Feb. and Aug. Feb. and Aug. Quarterly-Mar. Feb. and Aug. Quarterly-Mar. Quarterly- Mar. 212 June and Dec. Quarterly-Mar. April and Oct. April and Oct. Quarterly-1\I ar. Quarterly- Feb. Jan. and July. May and Nov. Qua~-ter1y..:..: i aii: ...6.. 512 . ..6.. 41g 3 10 (b) 7 7 10 5 ···13·· 3 7 7 2¼ 7 8 10 7:\i 7 7 7 914(dJ 8¼ (e) . ..5¼ ...6.. Quai·torii.:.jiar: ···aili. ...5.. ...ii; 4¼ 614 412 Quarterly-Jan. 4 7 5 a 8&3 2¼ ···6~ 7 5 (a) 6 51g ·--i¼ 4 7 8 7 4.~ (h) 6 6 6 . ..5.. 7 8 l¼ 6 7 7 4.¼ 3 7 7 8&3 8&2 8&2 912 (f) 6~ 7~ 1 7 6 7 7 5 6111 (b) 8 7 7 8 7 7 6 6 7 7 8 7 7 2 Common .••..•••••••••••••..... ] Jan. and July. 7 8 8 7 1885. 4 2 5 (a) 6 7 guarterly-Jan. F eb. and Aug. 1884. 6¼ 7 Quarterly-Mar. 1883. 7 5¼ 2 4¼ 2 Quarterly-Mar. Feb. and Aug. Aiii·i.i -aiia.···ooi: 1882. 1881. ···4·· 1 20 s{ock. 10 ·1014 1 ---··· 8&2 8& Z' 8&2 8&2 8&3 8&3 Preferred .....•...•....•....... Jan. l\nd July. 10 8 7 7 6 Illinois Central .... .••• .. - - -... -1 Mar. and Sept. 4 4 no Leased line certs .. Jan. and July. ···;·· 7 7 7 Joliet & Chicago (leased) .... . . . Quarterly-Jan. ll\i Keokuk & Des M., pref. (leased) ···;·· ···s¼ 10 (g) uarterlv- Feb. Lake Shore & Mich. Southern .. 4 1 uarterly-Feb. . .. 6 .. Lon~ Island ...........•..•...•.. ···4·· 3 Lowsville & Nashville .•....... ~ eb. and Au~. Manhattan, consol. .•.•..••..... Quarterly-Jan. • ••6¼((1) 3 Michi.1ran Central. .............. . (a) From full year's earnings for 1880. (b) Dividends changed from semi-annual to quarterly 1n May, 1884. (d) And 20 per cent in stock. (e) And 100 per cent in stock. . Cf) Quarterly dividends were begun with October, 1881. (g) Dividend periods changed from semi-annual to quarterly with May, 1881. (h) Dividend period changed from quarterly to se mi-annual, thus diminishing total for the year by the amount af one quarterly payment (iJ Dividends were changed to half-yearly again 1n A.ugust, 1883. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ···s·· ···s¼ ···s.. DECEMBER, INVESTORS' SUPPLEMENT. 1885, l 3 :,-=============================================== DIVIDENDS ON RAILROAD STOCKS-NEW YORK, BOSTON, PHILADELPHIA AND ' BALTIMORE. ' Name of Company. Dividend Periods. Missouri Pacific (new stock) .... Morris & Essex (leased) ......... Nashv. Chattanooga& St. Louis New London Northern (leased). New York Central & Hudson ... N. Y. Lack. & West. (g uar.) .... N. Y. Lake Erie & West., pref .. N. Y. New Haven & Hartford .. N. Y. Ontario & West., pref. .... N. Y. Prov. & Bost.(Stonington) Norfolk & Western, pref ........ Northern Pacific, pref .......•. . Oregon Improvement Co .. . .... Oregon Railway & Nav. Co ..... Oswego & Syracuse (leased) .... Ore~on & Trans-Continental ... Paci.tl.c Mai1Stea,msh1p .......... Panama .....•................... Pittsb.Ft.W.& Chic.,guar.(l'sed) Do do special .. Pullman Palace Car . . ........... Rensselaer & Saratoga (leased). Richmond & Danville ........... St. L.Alton& T. H .(leased), pret St. Louis & Sa-n Fran., 1st pref. St. Paul & Duluth, pref ......... St. Paul Minneap. & .Manitoba. Terre Haute & Indianapolis .... Union Paci.tic .................... Wabash St. Louis & P a c., pref .. Warren (leased) .... . ............ HOSTON. Atchison Topeka & Santa Fe .. Boston & Albany ................ Boston & Lowell ............... Boston & Maine ................ Boston & Providence ........... BostonRevere Bear,h & Lynn . . Boston Concord & Mont., pref .. Cedar Rapids & Mo. (leased) .... Do do pref........ Cheshire, pref .................. Chicago Iowa & Neb. (leased) .. Chicago & West Michigan ..... Cin. Sand. & Cleve., com ........ Do pref ........ Concord ................ Connecticut River ..... : : : : : : : : Connecticut & Passumpsic ..... Detroit Lansini. & Northern .... Do do pref Eastern, N. H. (leased) ......... Eel River (leased). . ............ European & North American ... Fitchburg ...................... Flint & Pere Marquette, pref ... Ft. Wayne & .Jack. pref (leasel) Housatonic, pref . ............... Iowa Fane & Sioux City 1leased) Iowa Railroad Land Co ......... Kans. City Ft. Scott & Gulf .... Do do pref. Little Rock & Fort Smith ....... Lowell & Andover (leased) .. _.. Lowell & Framingham, pref .... Maine Cf'ntral.. _...... . . . . . . . . . Manchester & Lawrence ........ Marg. Houghton & Onton., com. Do do pref. Nashua & Lowell (leased) ....... Nashua & Rochester (leased) ... Northern (N. H.) ................ Norwich & Worcester (leased) .. Old Colony ..................... Pittsfield & No. Adams (leased) Portl'nd Saco & Portsm.(leased) Providence & Worcester ........ Rutland, pref .... ---············ Vermont & Massachus'ts (l'sed) Worcester & Nashua ............ Worcester Nashua & Rochester. PHILADELPHIA. Buffalo N. Y. & Phila. pref. (new) Camden & Atlantic ............. Do do pref ...... _. Catawissa (leased), pref .... ··-· Do new pref........... Delaware & BoundBr'k (leased) East Pennsylvania (leased) ..... Elmira & Williamsport (leased/. Do do pref ...... Harrisb.Portsm. Mt.J.& L. (l'sed) Huntingdon & Broad Top, pref. Lehigh Coal & Navigation.·-··· Lehigh Valley ...........•.....•. Little Schuylkill (leased) ....... Minehill & Schuyl. Hav. (leas'd) Nesquehoning Valley (leased) .. Northern Central··-··········-North Pennsylvania (leased) ... Pennsylvania Railroad ......... Phila. Germant. & Nor. (leased) Philadelphia & Trenton (leas'd) Phila. Wilmington & Baltimore United Cos. of N. J. (leased) : ... West .Jersey.--········-······ ... DALTI.ll.lOKE. Atlan. & Char. Air Line (leased) Baltimore &Ohio-Main Stem .. Do. do. 1st pref. stock. Do. do. Wash. Branch ' ~uarterly-Jan. an. and July. April and Oct. Quarterly- Jan. Quarterly-Jan. Quartet·ly- Jan. Yearly-Jan'ry. Jan. and July. Cen""1 Ohio com. . . . . ..•••• ·•••1 Do. do. prP" , ........... ... Wil. Columbia & augusta ••••.. Wilmington & Weldon ..•..•••.. 1879. --------··7 3 6 2 6 8 --···· 10 ................ . ... . ..8.. ·····--···-····-·· .................. . ... -----· ··········-· juarterly- Feb. ........ -----· 2 9 eb. and Aug. Quarterly-.Jan. ~uarte rly- Feb. an. and July. Quarterly-Jan. Quarterly-- Jan. iuarterly-Feb. an. and .July. Quarterly- Feb. Yearly. Feb. and Aug. Jan. and .July. Quarterly- Feb. Feb. and Aug. Quarterly-Jan. Quarterly- Feb. April and Oct. ....... ......... 13 7 7 8 8 -----· ....... ---·-· ------ Quarterly- Feb. Quarterly- Jan. Jan. and July. May and Nov. May and Nov. .Jan. and July. May and Nov. juarterly- Feb. eb. and Aug. .Jan. and .July. .Jan. and .July. Feb. and Aug. May and Nov. Jan. and July. Feb. aud .Aug. Feb. and Aug. Feb. and Aug. June and Dec. Quarterly-Mar. April and Oct. Jan. and July. .Jan. and July. Mar. and Sept. Quarterly- .Jan. Quarterly-Mar. May and Nov. 10 8 3 ...9ig 8 334 . . .6.. ....... .. ·s-2 312 Feb:··aii<i ··.iug: ....... 3 5 10 . ..5.. 6 5 .Jan. and .July. ...................... ...6.. ...... ...... Quarterly-Mar. ...... ----·············· ...3ig May and Nov. iuarterly- Feb. an. and .July. May and Nov. .Jan. and .July. .Jan. and July, 7 7 3 6 5 7 7 .rwie· ·aii<i· · iieo: ~uarterly-Jan. an. and July, .Jan. and July. Mar. and Sept. Jan. and .July. ~uarterly- Feb. ay and Nov. Quarterly-1\Iar. ~uarterla-Jan. an. an .July. Quarterly- .Jan. 3 Mar. and Sept. May and Nov. .Jan. 11pd July. May and Nov. Jan. and July. .Jan. and .July. Jan. and .July. Jan. and July. 4 8 8 6 6 5 7 3 8 212 10 ------... 6.. . ...6.. 10 8 5 10 8 312 6 7 412 3 ....... 7 412 3·40 ---··· 7 ··-6 .. 212 212 8 5 2 8 3 51g 5 -~3~ 6 ....... 8 3 6 6 10 6 5 6 10 6 5 6 6 6 ...6.. llg 6 3 -. ---· . --·. 319-scrip. 312 scrip. 7 7 6 6 5 '1 7 7 6 8 ...6.. 2 6 712 5 5 6 10 10 12 8 8 4 11=i ........ ...8.. 6 10 ·cei•tf . 712 312 &'rip ' 6 . ..334 6 & 1 stock. 12 10 8 10 612 8 12 10 8 10 4 512 2¼ 10 6 ;JO i ···a·· j ···a·· r 6.lg 6 . ........ ...6½ 10 9 9 ...... ··-·· · 1212 9 ·--·-1312 7 7 912 8 7 7 7 312 9 (fl 8 7 8 7 1012 (g) 712 8 312 7 7 8 8 7 7 -----7 7 6 8 4 8 8 7 6 6 7 3 8 212 12 (h) 6 10 8 6 6 8 & 10 stock. 5 8 8 7 412 4 212 7 6 8 512 8 8 6 6 6 6 6 7 3 (i) 3-½l (i) 3 3 10 (i) 4 8 3 2 6 6 10 10 8 512 6 7 412 2 5 512 8 6 6 . ....... 41g 4 5 6 7 512 8 7 6 6 2 8 612 4 2 4 3 8 8 . ..7.. ···1·· 2 212 2 10 7 512 8 7 4 512 10 ··-s·· 4 8 3 6 10 612 5 6 6 2 6 3 . ..6¼ 7 6 6 3 12(k) --···· . ..7.. 412 7 7 8 6 7 712 6 6 5 7 7 7 7 llg . ..5¼ 6 012 8 8 7 7 7 7 7 7 7 6 7 6 8 8 7 712 8 812(m) 812(n) 7 (0) 12 12 12 10 10 10 8 8 8 10 10 10 3 & 3 scrip, 3 & 3 scrip. 3 & 3 scrip. 5 5 10 6 10 6 10 6 6 00 5 7 7 8 8 7 7 7 6 6 ,, . ..... ... .. 6 8 6 8 8 6 512 ..-----·a .. ··-i~ ...f . 10 8 5 ··-5¼ 412 ···5·· 5 51g 519 5 7 2lg 8 . --6 .. 10 ------ ·--7·· "1s·[a, 6 10 9 7 7 5 5 6 6 6 6 1 1 6 6 114(k) 112(k) 3 & ·ii ·siook. ·-·6·· . ··4 .. ·10 ...8.. ....... . ...... .. 4¼(p) ···1·· 7 (j) r27"12 10 8 8 3 6 10 7 5 312 5 4 512 8 ' ...6.. 10 ---··7 7 . 9 16 7 7 8 8 7 7 912 ...... ···1-- 7 ----·· 8 (C) 4 7 7 7 6 5 7 7 512 7 f 7 7 7 112 ...3.. 7 7 6 10 6 6 7 7 2 6 8 ff14 . ·-· .. . ..2.. ...9.. 1885. 319.soi-ip. 7 7 7 7 ...... 1884. ------ 5 . ..6.. 1883. . --· -- 6 4 1882. . ·-· .. 612 ? 7 7 4stock&4 6 10 7 3 7 7 10 &2.stock. 7 ------ ··io .. ---··· ........ ......... 12 10 8 10 2 l 6& 50 stock. 8 812 8 4 712 8 6 6 4 7 3 ········4.·· 412 --················ ti 7 -----7 ·---·- ...6.. May· ·aii<i ··Nov: 7 10 stock. 3 8 634 7 Feb:· ·au·& ··Aug: Ai>rii ·ai<i' · ·oct: ----·...... 3 (e) 10 stock. ....... Nov. Oct. Dec. July. July. .July . .July. .July. 34:26 7 7 912 8 5 ...8½ ·10 .. and and and and and and and and ....... ··-3¼ June and Dec. Feb. and Aug. May and Nov. May April .June .Jan. .Jan. .Jan. .Jan. .Jan. 9 ...... ....... ----·- .ran:· ·aii<i · Yuiy: ···3·· ....... --···7 ...6 ....... . ...... 7 7 8 8 7 ------ ----·····--·-----May and Nov. ........ --io .. . ..8 ....... 6 7 l 10 6 8 ...... ...8.(d) 9 . ....... ·16·· 6 6 4 7 3 ·10 .. ...8.. ········3·· 3 6 ......... 8 8 2 6 61g 6 1881. 112 7 8 ....... Quarterly- Feb. 1880. 5 10 p. 10 6 6 1~ 6 ~ ...... -----··-··7 7 8 6 5 7 7 " ···5ig 6 7 7 5 8 8 5 12 10 8 10 6 5 10 6 10 6 6 6 8 r 6 6 6 6 6 8 (c) Covers two years' dividends. (d) And 10 per cont in scrtp. (e) 55 f.er cent aocumnlated dividends paid ln bonds. (1) Began paying quarterly dividends with Nov. 1. 1882. (g) 7 per cent of this in pre . stock. (i) Now consolidated wtth Chio. & Northw. (h> 10 per cent in stock of Col. Spring:f. & Cinn. and 2 per cent ln cash. (j1 Consolidated. with Old Colony, and thls amount pa.id tn settlement. Cle) Nashua. & Rochester and Worcester & Nashua now consolidated under name or Worcester Nashua & H.oohester. (l) Includes· an extra dividend of 7 per cent. (m) Two per cent of this iR in scrip, redeemable in cash or convertible into stock. (n) Four per cent of this convertible into stock. (o) Two per cent of this convertible into stock. (p) Owing to a postponement of some of the earlier dividends, the payment of the last quarterly dividend tor 1885 was thrown into .Janna.ry, 1886, reducing the percentage for 1885 to the figures here given. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ···s·· I f STOCK AND BOND TABLES. NOTES. These tables are expressly intended to bo used in connection with the information concerning Investment matters, published trom 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. A description of U.S. Government Securities is published in the CHRONICLE each month, as soon as the official "Debt Statement" is issued. Prices of all active Stocks and Bonds are quoted weekly in the CHRONICLE, and a list of general quotations is published monthly. The following will give explanations of each column of the tables below: Description.-Railroads leased to others will sometimes be found under the lessee's name. The following abbreviations frequently occur, viz. M. fo1 "mortgago." s. f. for "sinking fund," 1. gr. for" land grant," reµ:. for" registered," coup. for "coupon," Br. for "Bran.ch," guar. fo.r "g11aranteert,'' end.for" endorsed." "Coupon*" indicates t hat the bonds are coupon, but may be registered. Date of Bonds.-Tbe date of issue is referred to in this column. Mites of .Road.-Opposite Stocks, this means the miles of road operated, on which the earnings are based; opposite bonds, the miles covered by tb e mortgage. Size or Par Value.-These figures are dollars, showing the denominations or par value. The figures" 100, &c.," signify $100 and larger . .Rate Per Cent.-The interest per annum is given for bonds, but t h e per cent of last div-idend for stocks; ~eans ,rold; x, extra; s, stock or scrip. When Payable.-J. & J. stands for J an. & July; F. & A., Feb. & Aug.; M. & S., March & Sept.; A. & 0., pr1l & Oct.; M. & N., May & Nov.; J. & D. June & Dec.; Q.-J., quarterly from J anuary; Q.-F., quarterlyfrom Feb.; Q.-M., quarterly from March. Bonds , principal wnen due,· Stocks, last dividend.-The date in this column shows the period wl:.an the principal falls due of bonds, but the time when the last dividend was paid on stocks . 1 STATE SECURITIES. Subscribers ·will coilCer a great Cavor by giving hnrnediate notice oC any ~rror discove1·ed In these Table•. DESCRIPTION. lfor explanations see notes above. Date of Bonds. A.labama-Substitution bo:ads (A) ($7,000,000). 1876 Substitut'n b'ds for RR. (B) ($596,000). __ ..... 1876 do for Ala. & Chatt. (C) ($1,000,000) 1876 Funding "obligat'nR" (tax-rec'ble 10-20 yrs.). 1880 Arkansas-FundinO' bonds of 1869 and 1870 .. 1869 to '70 Funding Bonds 1§70 (Holford)................. 1870 Levee bonds (or warrants) . _.. .. . . . . . • . . . . . . • . . 1871 Old debt1 includins interest to 1884 ........... 1838 to '39 Sinking mud bds.(Loughborough)Act.Dec., '74. 1875 To Memphis & Little Rock Railroad.......... . 1869 To Little Rock & Fort Smith Railroad........ 1870 To Little Rock, P ine Bluffs & N. Orleans RR. . 1870 To Miss., Ouachita & Red River Railroad. .... 1870 To Arkansas Central Railroad ..... ·-·········· 1870 Oalifornia-State Capitol bonds . . • . . . . . . . . . . . . . 1872 Funded debt bonds o1 1873. .... .. .. . . . . . . .. . . . 1873 Oonnecticut-Bonds, 10-20 year . .•. ... l Coup. 1877 New bonds (sink. fd.) not, taxable .... 5 or reg. 1883 New bonds, reg. do do ........ ..... . 1884 New bonds, coup. orreg .... ·-····- . ........... 188,"> Delaware.-Refund'g bds., ser. "A," "B" & •'C" 1881 Bonds, redeemable after June 1, 1895 ... . . . .. 1885 School bonds ..... ·-··-······· ...... · --··-··· ··· Dist. of Columbia- Perm't imp't, gold, coup_... i872 Permanent improvement bonds, coupon...... 1873 Bds for fund'g (Act June 10, '79) coup. or reg. 1879 Fund. b'ds (U.S.guar.,ActsJune,'74.&Feb.,'75) 1874 Market stock, re.!!.istered and conpon. . . . . . . . . 1872 Water stock bonds, coupon .......... __ ..... _.. . 1871 to '73 Wash. fund'g, gld,($628,800 are 1\1.&N.,1902). 1872 Florida-State bonlls ..... . . . ··················-· 1871 Gold bonds ........ ·····-······················· 1873 Georgia-Atlantic & Gulf Railroad bonds._.... . 1866 Bonds, act of Mar. 12, '66 (renewal W. & A.J. . 1866 Quartt1rly gold bonds, act of Sept. 15, 1870.. 1870 Bonds, act of Jan. 18, '72 .... ···· ·· ·-········ · 1872 Bonds for funding (Act Feb. 19, '73>·· ··- ··· ·· · 1873 Bonds to fund coupons on endorsed bonds... 1876 Bonds exchanged for endorsed RR. bonds.... 1877 Fdg. b'ds,coup.(for $3,455,000JAct Dec.23,'84 l g85 State University Bonds._.......... . . . . . . ..... 1882 & '83 I ndiana-Bonds, coup. (pay'ble after Apr.1,'84) 1879 School fund bonds (non-negotiable). __...• . .... 1867 to '73 K1JttSas-Bonds for various State purposes ..... 1864 to '75 lllilitary loan· -············· ···· ····· -· ··- · ·· ··· 1866 to'89 Kentucky-Bonds, gold· -·· ···· ·· · ·· ·· ·· ·· ·-·· ···· 1884 Military bonds.-··· . ... -·······-···· ............ 1864 to '66 Size or Amount par Outstanding Value. ----1------1---$100&c. $6,731,000 100 &c. 539,000 100 &c. 945,000 954,000 il>OO 1,850,000 1,000 1,268,000 100 &c. 1,986,773 2,491,023 1,000 1 ,000 238,000 1 ,000 1,200,000 1,000,000 1,000 1,200,000 1,000 600,000 1,000 1,000 1,350,000 250,000 500.&c. 2,698,000 1,000 11031,000 1,000 500,000 1,000,000 1,000 1,000 1,74.0,000 625,000 1,000 120,000 156,750 3,484.,600 500&0. 100 &c. 64.2,300 100 &c. 948,4.00 50&c. 14,033,150 146,450 50&c. 360,000 1,000 100 &c. 1,64.9,1 50 350,000 100 925,000 100 &c. 500 &c. 279,100 2,968,000 500 &c. 1,000 2,098,000 500 &c. 307,500 1,000 99,000 1,000 542.000 2,14.1,000 1 ,000 l'I) 1,000 161,000 585,000 .... 3,904,783 100 &c. 684,500 221.500 500,000 17,.1,000 AlabaJDa.-The State gave 30-year bon,,ds, dated July 1, '76, bearin° 2 p er cent till 1881, then 3 p er ceut till 1886, 4 p er cent till 1896, and g per cent for last 10 years, for old oonds, without any allowance for pastdue coupons. Alabama & Chattanooga endorsed bonds were exchanged f-0r $1,000,000 of the new bonds, Class C, to bear 2 per .cent till 1881, and 4 per cent for remaining 25 years. For railroad endorsements the bonds issued bear 5 per cent. In 1880 the new 6 per ce nt llonds were issued to retire old 8 per cent "State obli~ations." Analysis of the debt and funding operations was given in tne CHRONICLE, V. 24, p. 28. For the $2,000,000 of State 8 per 0cnt bonds issued to the Ala . & Chatt. RR. under act of Feb. 11, ll:!70, ti.lo State gives thelien on the lauds granted to that railroad, 500,000 to 1,200,000 acres. The assessed -valuation of real estate and personalty was $152,\;20,115 in 1881, $151,520,551 in 1882 and $158,518,157 in 1883; tax rate 6¼ mills iu ea~h year. Arkansas.-The State Supreme Court decided Levee bon s of 1869 and l870 invalid ; nor are the Holford or the Railroad Aid bonds recognized b y the State. The State is in default for interest, except on the secured sinking fund bonds (Loughborough) issued under the law of December, 1874. In Jan., 1883, a decision was made by the U.S. Circuit Court, substantially holcting the railroad companies responsib le for the State bonds issued to them, but this was reversed in October a.nd the case appealed to U. S. Supreme Court. ::lee the references below. The followmg are the latest official assessments: Real Estate. Personal. Tax Rate. 1881. ....... ·-······ ......... $41,843,803 $58,445,111 7-½a 1882 ..•. ········ ····-········ 56,979,28 1 37.101.746 7-½a 1883 ..•.......... _. ... ...... 78,444,227 48,382,167 7 (V. 39, p. 263; V. 40, p. 119; V. 41 p, 419.) OallCornla.-The State holds in trust for School and University funds $250,000 Capitol bonds and also bonds of 1873, in all $2,494,500, leaving only $458,500 in private hands. Assessed valuations and rate of tax per $1,000 have been: Years. Real Estate. Personal. Tax Rate. 1882 .........•...........•. $!46,319,940 $120,848,453 $5·96 1883. ..... .. ... .. ....•..... 558,373,786 , 167,338,644 4·97 1884. . . .. . . . . . . • . . . . • . . . • . 654,990,072 166,614,631 4·52 1885 .... ·-··-·· · · · ···· ····· 688,311,102 171,201,282 5·44 Oonnectlcut.-The debt of Connecticut was all created or iginally for war purposes. Assessed valuation and tax rate per $1,000 have been : Years. Real Est. & Personal. 'l'ax Rate. 1882 .... ·· · ······-···· · ··· $342,242,566 $1·25 1883... ...... ... ...• ..••.. 348,774,879 1·25 1884 .......... ... ... .. . _.. 349,977,339 1 ·25 The assessed valuation of real estate is about 70 per cent of the true value. Delaw-are.-These refunding bonds issued July, 1881, take up outstanding debt. Series "A" are ~1160,000, redeemable 1886; series "B" https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Rate. 3 &c. 5 4 &c. 6 6 6 7 6 6 7 7 7 7 7 7 g. 6 g. 5 319 3-½a INTEREST. When Where Payable and by Payable Whom. J. J. J. J. J. & J . N. Y., Am. Exch. Nat.Bk. & J. do do do do Montgomery. . ........ . & J. & J. & J. J ..&.. J. ::::~:~::: J. & J. ·········· J. & J . New York, Nat. City Bank. A.. & 0. A.. & o . A. & O. A. & O. A.. & o. J. & J. Sacramento, Treasury. J. & J, do do M.&N. Hartford, Treasury. J. & J. do do J. & J . do do A. & 0 . do do J. & J. Phila., Phila. !-cat. Bank. J. &D. do do 3 4 4 6 6 g. J. _&.. J . Wash. or N. Y., U.S. Treas. ,J. & J. do do 7 5 3·65 J. & J . F . & A. do do do do J. & J. do do 7 J. & J . do do 7 6 g. J. & J . do do 7 Jan. N. Y. ,Park.Bk.& Tallahassee do do 6 g. J. & J. F. & A. N. Y., Fourth National Bk. 6 J. & J . do do 7 7 g. Q.-J. do do J. & J. do do 7 A.. & O. do do 8 J. & J . do do 7 .J. & J . dD do 6 J. & J. New-York & Atlanta. 5 7 A.·&·o. N. Y., Winslow, L. & Co. 5 Various do do 6 J. & J. N. Y ., First Nat. Bank. 7 do •lo 7 J. & J. New York City. 4 Principal-When Due. July 1, 1906 July 1, 1906 July 1, 1906 Jan. 1, 1900 1899 1900 1900 1860 1905 1899 1900 1900 1900 April, 1900 July, 1887 1893-94 May 1, 1897 Jan., 1903 Jan. 1,1903 Oct. 1, 1910 1886,1891,1901 June 1, 1905 Jan. 1, 1901 July 1, 1891 July 1, 1891 July 1, 1899 Aug. 1, 1924 July 26, 1892 Oct. 1, 1901 & '03 1892 & 1902 Jan. 1, 1901 Jan. 1, 1903 F eb. 1, 1886 July, 1886 Oct., 1890 May, 1892 April 1, 1886 July 1, 1896 July 1, 1889 July 1, 1915 1932-33 April 1, 1889 1886.to'9a 1886 to '99 1904. 1894-9~ $300,000, red~emable July, 1886 to 1891; series "c;· $165,000, redeem -· able July, 1891 to 1901. In addition to above, $33.000 is d ue D elaware College. There is no State tax levied. nor assessments made by Stat& offlcera. Jan. 1, L885, the live assets exceeded the debt $3 ·2 9,0•! 9. District oC Columbla.-The total assessed value of taxable real estate and personal property is shown below. The inter est and sinking fund on the 3-6'5 bon:ts are provided for by Congl'ess, and the amount is limited to $15,000,000. Real and personal estate, &c., has been assessed as follows : Years. Real E state. P ersonal. Tax: Rate. $9,666,272 1882 . ........................ $90,308,495 $15 9,028,812 15 1883_ .. .. . -·· · -·· · .... .... ... 92,533,665 1884 .. .. .. ...... ... . .... . . _.. 90,·1 96,331 10,987,443 15 1885 . .. .......... -. . . . . .. . .• 93,491,891 12,715,686 15 Flo!'l lla.. -Less the sink. f und of $179,450, the total debt is $ 1,095,550, whicl1 does not include $132,000 bonds of 18;,7, lle l1l by Indian Trust Fund. About $528,800 of the bonds are h eld in school funds, &c. Coupons of all bonds are receivable for taxes. R eal and personal property assessed in 1883,$55,008,560; tax rate 4 mills in 1884, ' $60,042,655; t ax rate 4 mills. · Georgla.-The constitutional amendment in 1877 d eclared void several issues of bonds and raill'oad endorsements. The 5 p. c. bonds of 18-:!5 were sold to take up other bonds m at ul'ing in 1 885 and L886. See CHRONICLE, V. 40, p. 385, 481. .A ssessed value and tax: rate per $1,000 have been: Years. Real Estate. Personalty. Tax Rate. 1880c .. .......... .. . .... . . -.. $139,657,250 $99,276,876 $3•50 1881-......... ........ •• . . . . . 148,057,233 106,195,395 3 1883 ..• .. . ... . .•..... ..•... •. - - - - 284,881,951 _ __, 1881 ... •. . .•.. .... --· · ······· 174,452,761 120,432,609 -(V. 40, p. 385, 481; V. 4 1, p. 392.1 Indlana.-Indiana made a compromise with her bondholde rs in 1846, giving them State stock for one-half of their bonds and overdue coupons, and Wabash & Erie Canal stock for the balance~ aboL1t $ 7,5001000. There are also outstanding $3!0,000 5 p er cent. bonus, due 1 901. neld by Purdue Univeri!ity, and about $22,000 miscellaneous issues of bonds. Valuation made in 1883 of tax:able property: Real estate, $547,372,540; personalty, $293,109,385. (V. 40, p. 42.) Kansas.•-Kansas has but a small State debt, but th6 lt!t!Ut, ut LliLlnicipa l bonds was about $15,931,930. State funds hold $657,500 of the bonds . The valuations (alJout one-half of tru e value) have been: Real Personal Rate of T ax Total Years. Estate. Property. per $1,000. Debt. 1883 ..........• $154,929,010 $18,030.492 $! 30 $1,120,175 188 1 ........ • ,. 180,023,238 56,390,518 4 50 874,500 1885 .•••.•••... ----247 371 645---' . . ••. • . .••.• STATE SEGU ilITIES. DECEMBER, 1885. li Subscribers flTlll confer a great Cavor by gl vlng Immediate notice oC any error discovered In these Tables. DESCRIPTION. For explanation see notes on first page of tables. Date of Bonds. 1853 Bonds in aid of various railroads ........ ...... Levee bonds-Act 35 of 1865 ...........••..••. Act 115 of 1867 ......... .... .... 1867 do 1870 do special-.d.ct 32.of 1870 ........ Bonds funding coupons ........................ 1866 1870 do to Boeuf & Crocodile Navigation Co ... do to Mississippi & Mexican Gulf Canal .. 1869 do school, held by St. Treasurer . .. .. .•... 1857 1870 do to N. Orleans, Mobile & Chatt. RR. .... 1871 do to N. Orleans,Mobile& Texas RR ...... N. O. Mob. & Texas RR. bonds, end. by State 1869 Consolidated funded bonds(stamped 4. per ct.) 1874 "Baby" bonds, threes .......................... 1880 1864 Maine-:-~ounty loan bonds .... . ....... } Coup. Muruc1pal war debt assumed........ . or reg. 1868 Four per cent bonds, coupon .................. 1880 1838 Maryland-Baltimore & Ohio Railroad, sterling Chesapeake & Ohio Canal, sterling ............ 1838 Railroads and canals ........................... 1838-47 Eastern Shore Railroad ........................ 1839 1837 Baltimore & Susquehanna Railroad ........... 1870 Chesapeake & Ohio Canal ...................... Baltimore & Susquehanna Railroad . . .. ....... 1839 1839 Annapolis & Elkridge Railroad ................ 1882 Defense redemption loan ...................... Deaf and Dumb Asylum Loan . .. .............. 1870 & '74 1876 Maryland Hospital Loan, 10-15 years . ........ 1872 Maryland State Loan ....................•...... Treasury relief loan, 10-15 years .............. 1878 Jfassackusetts-Bounty Fund Loan .............. 1864 do do sterling ................... . 1864 War Loan, sterling ............................. 1869 Troy & Greenfield Railroad loan, sterling ..... 1858 to'61 do do home ...... 1861 to'63 sterling ..... 1871 do do 1875 do do sterling····· dollar onds 1873 to'74 do do 1875 do do do do 1877 do do Southern Vermont Railroad Loan . .... . ....... 1860 Boston, Hartford & Erie Railroad, sterling ... 1868 to'69 Harbor Land Improvement (5-20s) ............ 1874 &'76 Danvers Lunatic Hospital. ..... ........... ... . 1874 &'77 Lunat ic Hospital, Worcester.... . ........... 1875-'76 1875 New State Prisons, sterllna- ··· ................ Michigan-War Bounty Bon s ........... .. . . .... 1865 Minnesota-Adjustment bonds, (10-30, red., '92 1881 Revenu e loan (redemption optional) .......... 1883 Missoiwi-Consolidated bonds ...... ........... .. 1868 University and Lunatic Asylum bonds ........ 1872 State Bank stock refunding . ...... . ............ 1874 Bonds to North Missouri Railroad ...... . ...... 1854 to'58 Bonds to Cairo & Fulton Railroad .... . ........ 1857 to '59 Bonds to Platte County- Railroad .............. 1859 to'60 Bonds to Iron Mountam Railroad ............. 1854 to'59 Pacific Railroad of Missouri. ......... .. ....... 1853 to'59 Fan.ding bonds .. ...................... . .. ..... .. 1874 Hannibal & St. Joseph Railroad ............... 1857 to'75 do do renewal. ..... 1874 Nebraska-Bonds (act Feb. 14, 1877) coupon ... 1877 New Hampshire-War loan, coupon bonds ...... 1864 Municipal war loan ............................. 1872 Loan of 1879 for refunding. . . .. .. . . • . . ....... 1879 Prison loan ............... . ..................... 1879 New Je1·sey -War 10an bonds, taxfree ........... 1863 do do taxable ..... . ................. 1864 1875 Ne.w York- ( ( 1872 Canal debt, Under Art. 7, Sec 3, of Con-~ 1873 reg. stock. stitution. 1874 Niagara Park Loan bonds ..................... 1885 Louisiana-Bonda for relief of State Treasury. ·rnss t l Size or Amount par outstanding. Value. i $500 1,000 fundable Amount { 1,000 was ab't 1,000 $20(),000 500 January, 100 &c. 1885. 1,000 80,000 1,000 260,000 1,000 48,000 1,000 70,000 1,000 2,500,000 1,000 875,000 100 &c. 11,939,950 1,341,800 500&c. 2,330,000 100 &c. 2,827,900 1,000 107,000 1,784,444 2,263,333 .... 309,485 .. 31,069 269,000 . 528,355 298,435 .... 62,605 ..... 3,000,000 222,000 lOO&c. 135,000 1,217,234 500,000 500&c. 4,379,500 £100&c 4,022,649 £200 1,005,419 £200&c 5,537,104 500 &c. 1,366,500 3,618,242 200 &c. 1,506,182 £500 1,000 300,000 1,000 1,300,000 10,000 370,000 5,000 200,000 £200 3,618,729 1,000 300,000 1,000 1,500,000 1,000 1,100,000 £500 1,299,355 1,000 231,000 1,000 3,962,000 1,000 130,000 1,000 2,483,000 1,000 185,000 1,000 80,000 1,000 1,457,000 1,000 248,000 1,000 431,000 1,000 1,192,000 1,000 2,555,000 1,000 618,000 1,000 1,390,000 1,000 1,140,000 1.000 449,267 1,000 150,000 100 &c. 2,206,100 1,000 500,000 1,000 84,000 100 &c. 997,900 100 &c. 593,-400 100 &c. 473,000 100 &c. 1,562,900 100 &c. 4,302,600 100 &•. 2,000,000 1,000 1,000,000 j --·· ...-·. --· ---· --· ---· INTEREST. Rate. When Payable Principal-When due. ---1------------1·-------- 6 6 8 6 8 6 8 7·30 6 8 8 8 7 (.J.) 2,4,3 6 6 4 5 g. g. g 5 3 6 6 6 3·65 6 6 6 6 5 g. 5 g. 5 g. 5 g. 5 g. 5 g. 5 g. 5 g. 5 g. 5 g. 5 g. 5 g. 5 g. 5 g. 5 g. 5 g. 7 412 412 6 6 6 6 6 6 6 6 6 6 6 8 6 6 5 5 6 6 6 g. 6 g. ~ g. 6 g. 212 J. & J. July, 1893 $15,0001 Various 1872 to 1906 Various 1886 M.&N. May 1, 1907 M.& 8. March 1, 1875 J. & J. ........ Amountsnot fundable, 1886 & '88 80,000 per report of J. & J. Jan.1, 1890 M. &8. 260,000 Jan. 1, 1878. 1899 Various 48,000 1897 J. & J. 70,000 July 1, 1910 A.. & o. 2,500,000 April, 1911 875,000 Jan~.--1914 J. .&.J. N. Y., Bank of N. Y . .J. & J . New Orleans. 1886 &1914 J. &D. Boston, Suffolk Bank. June 1, 1889 A.. & o. Oct. 1, 1889 Auf1sta and Boston. F. & A. Bos on, Suffolk Bank. $50,000 ~er year J. & J. London, Baring Bros. 18 9 do . do J. & J. 1889 Q.-J . Balt., Farm. & Merch. Bk. 1890 A.. & o. do do 1890 do . do 1890 Quart!. J. & . do 1885 do Q.-J. do 1890 do A.. & o. do 1890 do J. & J . do 1899 do J. & J. do 1885 & '89 do do J . & J. do 1887 & 1891 do do 1887 J. .&.J. do do 1893 M.&N. Boston, Treasury. May 1, 1894 M.&N. London, Baring Bros. May 1, 1894 J. & J. do do July 1, 1889 A.. & 0. do do Apl., 1888 to '90 A. &O. Boston, Treasury. April, 1891 to '94 London, Baring Bros. J. & J. July, 1891 J. & J . do do Jan. 1, 1895 J. & J. Boston, Treasury 1894 .r. & J. do do July .l., 1895 M.& s. do Sept. 1, 1897 do A. & 0. do do April 1, 1890 London, Baring Bros. Jan. 1, 1900 J. & J. J. & J. Boston, Treasury. Sept. 1, 1896 Boston, Treasury. J'yl,'94--Sep 1,'97 Various Various do do M'y1'95-Sep l,'96 Jan. 1, 1895 J. & J. London, Baring Bros. & Co. M.&N. N. Y., Am.ExchangeBan.k. May 1, 1890 J. & J. N. Y. City, First Nat. Bk. 1911 Optional. J. & J. St. Paul, State Treasury. J. & J. N. Y., Bank of Commerce. 1888 do do July, 1892 J. & J. do April 1, 1894 J. & J. do do do J. & J . 1885 to '88 J. & J. do do 1885 to'89 ' do do J. & J. 1889 to'90 do do J. & J. 1885 to'89 J. & J. do do 1886 to'89 do do July, 1894 & '9S J. & J. ,J. & J. do do 1887 to'95 1894-o-6 do do J. & J. N.Y., Kountze Br os. April 1, 1897 A. & 0. Concord or Boston. Sept., 1889 M.& 8. do do Jan., '92 to 1905 J. & J. J. & J . Bast.,Nat.Bk.Commonw'lth ,July 1, 1887-'92 do do Jan., 1896 to '91 J. & J. J. & J. Jerse«L City and Trenton. Jan., 1886 to '96 do Jan., '97 to 1902 o J. & J . Oct., 1893 J. & J. N. Y., Manhattan Co. Bank. July, 1887 do do J. & J. July 1, 1891 do do J. & J. (lo do Oct.1, 1892 A.. & o. . . .. ........ $100,000 yearly. J. & J. ~~;:~~~ ........ t 1 Lonislana.-T1rn Constitutional amendment nassed Dec., 1879·, provided for a new bond m place of consols of 1874, bearing 2 per cent f-0r 5 years, 3 per cent for 15 years and 4 per cent afterwards . In June, 1882, a constitutional amendment passed the Legislature and was confirmed at the election in April, 18 4, giving new bonds at 4 per cent after Jan. 1, 1885, and doing away with the provi ion of 3 p er cent for fifteen years. There is considerable ov~rdue interest of the years 1874 to 1880, inclusive. The constitution of 1879 limits the power of taxation to 6 mills on the valuation, of which only 3 mills may be ap• propriated for interest on the debt; in 1884 1142 mills sufficed to pay 2 per cent, but for 1885 a rate of 2 7 s was made on a total taxable valuation of about $200,000,000. A suit by the State of New Hampshire against Louisiana as assignee o:t her bonds, was decided in favor of Louisiana by the U.S. Supreme Court. (V. 39, p. 3, 181.) lUalne.-The debt January 1, 1885, was $5,266,900. The sinking tund $1,826,200. Tax rate for 1880, 5 mills on valuation of 1870; .1881-82, 412 mills; 1883-84, 4 mills on State valuation. Maryland.-The State has largely assisted canals and railroads, and holds $3~992,851 of stocks and bonds ranked as productive; the State .also holus $27,320,539 in unproductive securities, which includes $17,566,472 Chesapeake & Ohio Canal interest. The State ex-changes the ·•Defense Loan" at par for new certificates of indebtedness, bearing interest at 3·65 per cent, redeemable in 15 years. Assessed valuation, &c., have been: Yea1·s. Real & Personal. Tax per $100. 1882 ................ ....... ............. $464,824,879 18:\ic. 1883 ........ . . ........... .... ........... 466,v89,380 18340. 1884 .................... ................ 469,5~3,225 18:\ic. -CV. 41, p. 473.} lUassachnsetts.-The funded debt, Jan. 1, 1885, was $31,432,681; the sinking funds were $17,731,725. The Hoosac tunnel and connections cost the State heavily. The loan to Boston Hartford & Erie Railroad was secured by "Berdell" mortgage bonds, afterwards exchanged for N. Y. & N. E. RR. second mortgage bonds. Assessed valuation, taxl'ate, &c., have been: Real Personal Tax per Total Sinking Years. Estate. Property. $1,000. Debt. Funds. 1880 .••. $1,111,160,072 $816,695,358 $15 35 $32,799,464 $13,050,092 1881 ..•. 1,149,965,827 883,886,538 14 28 32,399,464 14,080,465 1882 . • • . 1,189,524,370 812,858,614 15 28 32,511,680 16,944,263 1883 ..•. 1,226,111,297 835,601,175 14 98 31,423,680 16,836.672 1884 ..•. 1,258,452,712 829,339,811 15 95 31,42H,680 17,7Sl,725 Michlgan.-The debt is practically extinguished, as the sinking fund has suthcient assets to meet the debt. Equalized valuation of real and p~rso:n~ pro_pertr, 1882_, a~!'~t $810,0?0,090; in 1883, tax rate,182100 mills, m 1884, l 108 mills , m 1885, 2 4 mills. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis lUlnnesota.-All the old St~te bonds formerly held by the permanent school fund have been redeemed or exchanged for 412s. Minnesota refused for some years to recognize the "State Railroad Bonds" of 1858, to the amount of $2,275,000, but a proposed compromise with the holders was provided for in 1881, and was carried out by the issue ~t the 412 per cent bonds. Taxable valuations and State ta.x have been: Yen.rs. Real Estate. Personal. Tax Rate. 1881. ........................ $208,949,184 $74.329,190 1·40 1882 ......................... 244,033,847 67,159,588 1·85 1883 ... . ...... ....... .... .... 255,910,090 78,549,269 1·80 1884...... .... .... .... ....... 307,859,774 80,298,879 1·30 1885......................... ·-----400,000,000-----1 ·80 Mlssonri.-The tax rate is 40c. per $100. Bonds maturing are met by sinking fund. Total State debt .Jan. 1, 1885, was $11,803,000; school fund and Univ~rsity certil1cates, $3,44.0,000; total, $15,243,000. The Hannibal & St. Jo. RR. paid tile State $3,000,000 for its debt, but the State refused on Jan. 1, 1882, to pay the coupons on its own $3,000,000 of bonds. Litigation between the State and company ensued, resulting in a judgment against the company for $476,049, as due the State on May 11, 1883; an appeal to the U. S. Supreme Court is yet pending. '£he company's last payment of iuterest on the bonds was up to Jan. 1, 1882, after which no interest was paid until the State made an appropriation in 1885, and paid interest up to Jan. ~ of ~hat year in full, with interest on the overdue coupons. The followmg 1s a statement of the assessed property in this State for the years 1882, 1883 and 1884: 1882. 1883. 1884-. Real estate ............ $442,826,742 $443,144,455 $496,730,663 Personal property.... 170,813,976 173,345,191 187,145,751 Railroad property.... 35,626,524 39,760,767 41,898,845 -·--- Total .............. $649,867,242 $656,250,413 $725,775,259 Nebraska.-The State school fund holds $326,267. There are also $50,000 10 per cent "Grasshopper" bonds due 1885, interest paid Jan. and July. Assessed valuation of real estate, personal, railroad, &c. (331a per cent of true value), and tax rate per $1,000, have been: Years. Valuation. Tax Rate. 1881........ . . •. . . •. . ••• . • •. . . • . . ..... •. .... . . $93,142,456 ··-· 1882 .••..•••..• . ·•••··•···••···· ···•···· · ····· 98,537,475 1883.. •. . . . •. . . • . . . • . . . • .. . • . .. . . •. . . . . . • •. .. .• 110,543,644 1884........ . • . • . . • . . . • .. . . . . . . . . . . . . . . •• .. . . . 126,615,886 New- Halllpshire.-Thedebtof New Hampshire was created for war purposes. The Municipal loan of 1872 was issued to cities and towns, the proceeds to be applied to their war debts. Total valuation in 1882 $215,000,000; in 1883, $227 914,543; in •1884, $231,340,088, and rate of taxation for all -purposes, $1 ·496. STATE SECURITIES. 6 [YoL, XLI. Subscribers "\VilJ con:fer a great Cavor by giving Immediate notice oC any error discovered in these Tables. DESCRIPTION. For explanation see notes on first page of tables. Date of Bonds. Size or Amount v~fu'e. outstanding. Rate. INTEREST. When Where Payable and by Payable Whom. - - - - - - - ---- ---·--1------------1------- North Oarolina-Fund. J.J'ds (coups.tax-rec'ble). 1879 Old bonds not funded ....... ........... ....... . .... ..... Bonds to North Carolina Railroad ......... . .. Bonds for N. C. RR. issue (tax receivable cps.) 1879 RR. bonds not fundable (Chatham and W.&T.) --·· Penitentiary bonds, a.ct Aug. 24, 1868 ........ 1868 Special tax bonds (in 3 clas es) ................ Ohio-Registered loan of 1881. ................. iss1 Re~isteredloan, payable after Dec. 1886 ..... 1856 Pennsylvania-Reg. bonds, tax fr. (red'ble '92). 1877 Registered bonds, tax free, 15-25 years ...... 1879 Loan of February, 1 882 (registered) .......... 1882 do in ten series ........ 1882 do AgricultuTal College land scrip .........•...... 1872 Rhoae Island-War bonds .............••......... U63 War bonds ............ .. .......... . ......•..... 1864 South Oarolina-State House stock and bonds .. 1853 to '54 1866 Fundin\i bonds and stock ...................... 1854 Blue Ri ie Railroad bonds .................... Funding ills receivable ....................... 1868 Payment of inter est ......................•..... 1868 Fun.ding bank bills .......................•..... 1863 Conversion bonds and stocir ... . ............... 1869 Deficiency bonds & stock (act 1878) .......... 1878 Consol. Donds and stock (Brown) . .. . .......... 1874 Tennessee-:Funding bonds, act of 1873 ......... 1874 Bonds registered, act of 1873 .................. Various. Held by KT. Univeraity 1not to be funded) .. ·--· Compromise bonds (act of May 20, 1882) ..•. 1882 Settlement bonds, act of March 15, 1883 ...... do do 5 & 6 p er cents. Texas-Funding State debt tact May 2, 1871) ... 1872 Frontior def'se, gold, act Aug.5,'70(red'ble '91) 1871 Revenue deficiency bonds, act D ec. 2, 1871 .. 1872 Bonds, act Mar., 1874 (for paying float'g debt) 1874 Redemption of debt, act Aug. 6, '76 ........... 1876 Bonds, act April 21, 1879 ..........•........... 1879 Bonds issued to School Fund .................. 1867 Vireinia--Old bonds,23 fundable .............. . . 1851 to '66 O d bonds steriin~ 23 fundable .........•...... 1851 Consol. (act Mar. 71) coup. tax receivable .... 1871 18·1 no do reg .. conv. into cou~-·clo (a(·t 1872) "Pealer.'" cp. not rec'b e . . 1872 do do ·• Pealer," r g. and certifs. b72 Deferred certificates (W. Va.) . ................ 1871 10-40s, act March 28, '79, coup. and reg ..•... 1879 do do sterling.... . ........•... 1879 "Riddleb'r" b'ds, acts Feb.1'1,'82,&N'ov.29,'84 1882 is·ss .J. & J . N. Y., Nat. Bk. of Republic. 4 $50 &c. $2,931,100 6 Various Cps. since .July '68 unpaid. 2,661,600 500 &c. Various do do 1,000 649,000 6 do do A. &O. 1,000 2,146,000 6 Cps. since.July '68 unpaid. 1,000 1,180,000 6 A.·&·o. Coup. of .Jan.'69&since unp. 1,000 44 .000 6 A. & 0 Cps. A & 0'69 & Ap '70 unp. 1,000 11,366,000 6 1,475,000 4 .J. & J. N. Y., American Exch. B'k. 100 &c. 2,243,564 lOO&c. 6 J. & .J. do do F. &A. Phila., Farm. & Mech B'k. 100 &c. 6,948,6 00 5 1,855,500 4 F. &A. 100 &c. do do 50 &c. 6,861,100 312&4 F. &A. do do 50 &c. 1.649,600 ~½&4 F. &A. do do 500,000 Harrisbur~, Treasury. 6 J • . & . .J. Providence, R. I.H. & T. Co. 628,000 1:000 6 744,000 1,000 F. &A. do 6 do 1,000 154,114 6 J. & J. Columbia, StateTreasury. 50&c. 6 g. .J. & .J. Columbia and New York. 26,650 Columbia, Trea,slll'y. 1,000 55,000 6 ~- J. & .J. 1,000 13,000 6 g. .A. & o. Columbia and New York . 1,000 128,000 6 g. A. & 0. do do 500 &c. 37,250 fl g. J. & J , do do 54,200 500 &c. do do ~ g. .J. & .J. 450,456 J, & .J. do do ·- -· 500 &c. 5,240,230 6 .J. & .J. N. Y., National Park Bank. 1,000 (1) 6 .J. & .J. Nashville, Tre:v.,urer. 1,000 do 5&6 J. & .J. do 1,000 397,000 do 6 J. & J. do 500 &o. 3, 4, 5, 6 .J. & .J. New York, Cont'l Bank. 100 &c. 7,428,500 3 .J. & .J. Nashville . 100 &c. 995,200 5&6 .J. & .J . do 67,000 6 Various State Treasur[' 1:000 499,000 7 g. M.& S. New York, Banko N. Y. 1,000 467,000 7 g. J. & J. do do 1,000 288,000 7 g. J. & .J. do do 1,000 1,647,000 6 g. .J. & J. NewYork&StateTreasury. 100 &c. 1,068,900 do do 5 J. &D. 82,168 State Treasury. 6 500&c. 3,062,892 .J. .&.J. ............... 6 £100&c 1,027,141 J. & J. ................. 5 100 &c. 13,019,900 6 J. & .J. . - .. --. 100 &c. 1,269,366 . ............... 6 .J. & .J. 100 &c. 396,100 J. & J. 6 ... . . -- -.. 622, 8&6 ................ 6 J. & J. Various 12,691,E,30 J. & .J 6 ..... 7,113,400 3 to5 J. & J . . ............ 293,200 3 to5 J. & .J. lOO&c. 2,190,514 3 Richmond, Treasury. J. & .J. m m - ------ -···-· I N ew .Tersey. -The debt was created for war purposes. Valuation -- .. --·· 1909 1868 to '98 1884 to '85 April 1, 1919 1868 to '98 Oct., 1898 1898 to 'ij9 At will, 1.886·'88 Jan. 1887 Feb. 1,1902 4 1i1i Aug. 1, '85 to '92 1922 .July 1, 1893 Aug.1,1894 1871 & '81 J'ly 1, 1887 to '97 ,l'ly 1, 1875 to '79 .July 1, 1888 .July 1, 1888 .July 1, 1889 .July 1. 1882 1888 .July 1, 1893 .July 1, 1914 1875 to 1900 Various. .Tan.1, 1912 1,~i-. t: ·----- is1ff 1911 1892. March 1, 1904 .July, 1906 1909 Matured. 1886 to '95 1886 1905 1905 . ..... Coiiiinient 191 1919 .Juiy 1, 1932 Tennessee.-A funding law was passed (act of May 20, '82> without of real and peri:onal property (taxable) in 1885, $565,500,687; $554,828,· the tax.receivable coupon clause. and g1vin"' new bouds at 60 per cent 114 in 1884; $548.495,069 in 1883, $534,917,876 in 1882, $527,- of the principal and interest of old, the new ])earing 3 per cent in 1882451,222 in 1881. State school tax, 212 mills. 83, 4 per cent in 1884 and 1885, 5 per cent in 1886 and 1887, and6 per N e w- York.-ThetinancialconditionoftheStatehasbeen fortified by cent 1888 to 1912. Exchanges were made in New York .July, 1883, the payment, of all d ebt except the canal debt, as above. The sinkin~ and $ 3,224.351 of these compromise bonds were issued. The Legislafunds in January, 188/'i, amounted to $3,918,501. The new capitol ture of 1833 repea1ed this law and passed a new one adjusting the debt building has cost r-he State thus far $16,500,000, but this lrns been paid on the basis of new bonds at 50 per cent of the face value of old, and for by taxation. Valuations and tax rate for State purposes have been. : bearing 3 per cent interest; the old State debt proper of $2,118,000 is Real e8tate. Personal. State tax. made an exception, and new 5 and 6 per cent bonds are tobe issued for 1880 ................... $2,315,400,526 $322,468,712 3-½l that at the face value. Up to December, 1~84, of the old 5 and 6 per 1851 ............. ... . . . 2,340,335,690 340,921,916 214 cent bonds about $900,000 had been exchanged, and of the other debt 1882 .. ...... . ... .... ... 2,132,661,378 351,021,189 2•45 $6,910,181 had been scaled and $3,445 ,300 3 per cents issued. Assessed 1883 . ... . ... . . . . . .. . .•. 2,557,218,240 315,039,085 314 va1uations and tax rate per$ l,000 have been as follows: 1884 ..•..... _.......... 2,669,173,311 345,418,361 22;1 40 R eal estate. Other prope1·ty. Railroad prop'ty. Ta~:'rate. 1885 •••..•..••• . •••.•.. 2,762,348,000 332,383,2:rn _.. . 188 1. ... . $200,001,214 $25,282,659 $.. .......... · 30 -(V. 40, p. 763.) 1882 ..... 195,383,568 26,546,245 . •. . . . . . . .. . 20 N o rth Carollna.-Interest was paid up to .January 1882 on the 18 3 ..... 195,753,414 26,884,459 31,547,2D9 30 2 170 3 0 30 1 0 0 ii1~fe~d! t~e~~o~~·•/~et~!f t~~rf~ •~~ ~~;:i:~ii~~ 4°5°l~~•f8, p. 121, 66~~~53. 68:;7i~~> bonds are exchangeable for the new 6s, due 1919 (see V. 35, p. 132). and Texas.-The old hi~h-rntc bonds have ueen redeemed andlow interest • many nolders ha,e already eo exchanged. The funding law of March 4. bonds is ued. A sessed valuations and r ate of tax per $1,000 have been: 1879, provided for funding old ante•wa.r bonds at 40 per cent of the face Years. R eal estate. Personalty. Total val'ation. Tax rate value; "New" railroad bonds recognized as valid at 25 per cent: fund· 1880. ... 197,167,630 121,803,106 318,970,736 5 ingbonus of 1866 a-ad 1868 at 15 per cent. Nothing for overtlne cou• 18 l. ... 216,228.017 140,000.000 357,000,000 4 pons. Coupons or tlle new bonds ar.i receivable for taxes. T he fundin$, 18 "2.... 250,157,904 169,767,572 419,925,476 3 ended .Jan. 1, 1882, but has been continued till Jan. 1, 1887. If a1t 1883. ... 298,959,253 229,578,137 t,27,537,390 3 were funded the new 4 per cents would be $3,5 9,511. Speciai 1884. ... 347. 846,953 255,213,964 603,060,917 3 tax bonds were ignored; also bonds to Chatham RR., 1868, $1,03u,ooo, Virginia.-'rhe old bonds two-thirds funda.ble and the sterling nd nd st 5 a to William on & 'rarb. RR ., $l 0,000, a for Penitentiary under bonds carry cou_oons from July 1869, excer)t the years 1872-3-4. The acts of 1868. The special tax bonds are in 3 cl a ses, class 1. bearing th() coupon of April 1869 and since; class 2 of Oct. ' ti9; ola 8 3 of Apl ,70 . consols. of 1871 carry coupons or Jan. 1875 and since. The 10-40s carry Assessed valuation of real estate is about 60 per cent of true value. .Jan. 1881 and since; but the consol. and 10·40 coupons being taxValuations and tax l'ate p er $100 have been: r eceivable, these bonds are generally sold with matured coupons off. The fu·st funding law of March, 1871, allowed holders or Y ears. R e·al es t ate. P erson alty. T 0 t a 1 v alua t·ion. T axpr. $lOO bonds to fund two.thirds of their debt into new 6 p er cent bonds, bear7 56 691 169 916 907 28 1880. •·· $102,348,~lu $o 8, $ , , ing coupon s receivable for taxes, and recbivmg for the other one•third , 1 04,7-1 2 , 911 167 •738 , 639 62 985 728 28 ··• of their principal a" d eferred certificate," to be paid by West Virginia. 11881. 108 71 ;, 389 ,, 341 180, 377 •525 988 ,184 25 8 82 ···· , The act of 1872 r epealt>d the tax-receivaole clause of the law, and th& 124 ,1 3 5 , 3 77 201 , 22 '2, 723 25 77 ,087 , 346 1883. · · · hnnds is ued under it were called "Pealers.'' The McCulloch law of a very small State debt, but large local deb t s,amount• l\lareh 28. 1879, for readjusting the debt, was given. in Vol. 28, in~ in 1884 to $19,277,173, against $25,957,588 m 1875; this increase P- 353. The new bonds were 10·40 year bonds. bearing 3 per cem; bemgmainlyincitydebts. ValuationsinOhiohavebeenasfollows: for lO years, 4 per cent for 20 years and 5 p er cent for 10 Real estate. Personalty. , Real estate. Personalty. years, coupons tax•reeeivable. ln February, 1882, the Riddleberger 1866 $663 647 542 $442 561 379 1881 $1 101 4- 7 383 $485 750 l96 law for re-adjusting the debt and the laws familiarly known as ·' ' ' • ' • ' ' t> ' ' ' • "Coupon killers," were passed (see V. 34, p. 88. The Riddleberger 1878 .. 1,09 l,ll6,95 2 461 ,460, 502 1882 · 1 ,116 , 68 1. 655 018 , 229 ,079 act provided for the issue of new bonds, dated .July 1, 1882, 4 442 ,9 79 , 8 8 5 1 1 883 · 1 , 131 , 0 58 , 750 542 •207 •121 into which all others could be funded at specified rates below par, varying 1879 · .l,09 32,768,90 145 4 4 166 034 1884 475 210 528 298 871 , 1880. l,10 ,0 9,93l 56, , -· l, , · , from 47 to 31 on the different clasEes. 'l'his law has also been amended, -State tax rate for '8 3 -8 4 , 2810 mills; for ' 84- 85 , 29 10 mills. V · 4 o, p. 734 · and requires all bonds offered for fundin:f after .July, 1885, to carry the Pennsylvania.-Sinking fund Dec._. 1884, $1,274,!:SOl. Revenue coupon of that date. Up to dept. 30, hts5, there had been surrendered is raised principally from corporations. Taxes are levied on personal a total of $7,nl 7,032 bonds, coupons, certificates, &c., of all sorts, for property. The State holds $5,160,000 in good railrnad bonds. Any which $4,971,590 of 3 per cent bonds had been issued, and of these coupon bonds may be changed to registered. Real estate valuation in $2,781,075 had come into the State Treasury on different accounts and 1884, $1,600,000,000. been canceled. The Supreme Court of the U. S. held (V. 36, p. Rhode Island.-The debt was. all_ created for war pur poses. In 285), that the law requiring the validity of the coupons to be established January, 18_85, the net debt, less sinkmg fund, was $1,001,743. The I before a State court did not impair the contract making them receivState valuation of real property up to 1885 was $328,530,559; tax rate, · able for taxes. and was therefore constitutional, but the question was 12 cents on,:,noo. . , . l again before the U. s. Supreme Court in April, '85, when that Court held S~nth Carolina.-The funding law of Dec. 23, 73, 1>rov1<;led for that a tender of coupons in payment of taxes was suttieient for tb.e propee~ling ~?:VIl th~ old debt 50 per cent. The con sols were agam ' · re- erty owner, and if tl1e collector after that levied on his property he (the adJusted 1;111879. The several acts were passed Dec. 3, 187~, Dec. 24, collector) could be sued as a private tresp asser. New suits are pending. 1878, Dec. :it4, 1879, and Fe~ruary, 1880. In November, 188:::>, the con• A movement was begun in 1885 to procure an adjustment of th c sols stood at $6,174,521, whrnh amount was made up as follows: Brown "Deferred" bonds or certificates with west Virginia, and the holders eonsols, _$5,2(;>0,433; green consols i:iot yet exchanged, $93~,291. ~ess were requested to depo.sit these with the Farmer's Loan Tr. Co., and the amount ~val1ct_. $692,869. The old issues yet fundabl~ on Nov. 1, 85, certificates of that co. were listed at the stock Exchange. were estimated at a totalyf about $600,000, Valuations and rate of Assessed valuations have been as follows: tax per $1,000 have beeL 1~. Years. Real Estate. Persona1ty. Total. Tax Rate. Years. Real estate. Pers0nalty. IRailroads. Tax rate. 1882 .... $232,386,357 $7'1.666,765 i310,053,12~ 40c. 1880·81.. - $76.583,866 ($36,574,858 $ 7 ,392,900 434 1883. .•. 236,368,227 81,789,710 318,157,937 400. 1882-83 .. · 77,609,666 41.785,768 13,767,400 5 1884 239 1826 000 88 974 040 328 800 040 400 ' • ' ' ' ' • 1883•84 87 131 400 48 249 939 15 297 9 4 5 .... 1884-85::: 87:559:538 _46;904;705 15:263:3i6 39, p. 108,183, 23.:>, 316; v. 40,p,'.350, 494, 509, 645; v. 41, p. 446~ 5 ] ~~~~ ~;t1•i~~ :_%\i9; p. -ih1~.~6~o4~i~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ill.- ~~f, DECEMBER, 1885.J CITY SECURITIES. '7 Subscribers w-ill conCer a great Cavor by giving 1In1nediate notice oC any error dhcovered In these Tables. DESCRIPTION. For explanations see notes on first page of tables. Date of bonds. Size or Amount 1 ~ - - - - - -IN,--T_E_R_E_S_T_._ _ _ _ _ _ 1 Principal-When Where payable and by Due. par outstanding. Rate. When Payable whom. value. ---------------- - - -1866 - - --Albany, N. Y.-Purchase Congress Hall Block. . $1,000 W!!s~~g~~~~~:::::::::::::::::::::::::::::: i~~g::ii New Post Office site............................ 1874 High School............ .... ...... .. . . . . . . . . . . . . Water debt ($400,000 due 1900-3, are 7s)...... Western A venue improvement bonds.. . . . . . . . . New City H all..................... . ............ South Pearl Street bonds ................ '" .. Bonds loaned to Albany & Susiuehanna RR.. 1875 1874-'80 1877 1882 1882 1865 Bonds, 1st and 2d series, waterworks......... Redemption bonds........ . . . . . . . . . . . . . . . . . . . . . do ........ .... ................ do ....... .. . ... . ... . . .. . ....... Bonds to fund floating debt............ Capitol bonds . .................................. 1874 1877 1875 1881 1879 1884 Fundin~ loan, reg. stock, tax free. . . . . . . . . . . . Qonsoliua,ted bounty loan.. . .. . . . ... ..... . . . ... Exempt l>ounty loan.......................... . Public parks (Druid Hill)...................... Park improvement loan........................ 1878 1863 1865 1860 1863 1,000 1,000 1,000 1,000 1,000 1,000 1,000 .... 1,000 &c. A-~7:;g~ Z,~·A~t~i!~o~~~~!· si!~ii~~~::: '616s~i~;-;~2 500 1,000 Bonds for West. RR. and floating debt ........ 1870 & '72 500 &c. i:ri=/~_ac~:S~tta~f~d i~~i~1 ~s~~~~~:::::: ;:;fg~:: Water loan, reg. stock, red. at will after 1916 1877 ~~=o~afo~!ttei~1ifmore .&. olii◊- Iiii:::: New City Hall.................................. 1,000 500 &c. 1,000 1,090 .... 10·o&c. LOO &c. LOO &c. 100 &c. 100 &c. 100 &c. 100 &c. 100 &c. is5s· lOO&c. 1870-'74 100 &c. Consolidated loan..... . . . . . . . . . . . . . . . . . . . . . . . . . 1864 100 &c. Paving loan.................... . . . . . . . . . . . . . . . . 1881 100 &c. Funding loa.n........ . . . . . . . . . . . . . . . . . . . . . . . . . . 1870 100 &c. Western Maryland Raih•oad................... 1872 100 &c. Jones' Falls ($957,000 are 5s) ...... ..•..... ... 1872-'84 100 &c. do .... . ......• .......... ... . ........ 1885 --·· Valley Railroaa..... ... .. ... ... ..... .... .... ... 1873 Water loan ($263,000 only are 6s)....... ... . . . 1874 lOO&c. Harford Run improvement loan . . . . . . . . . . . . . . 1880 100 Western Maryla:ad RR. loan ($684,000).. ... .. 1882 100 &c. Bonds . ... . ........................... . .. . ....... 1885 Enaorsements for Western Maryland RR..... . .... . do do Union Railroad............. . .... . Bangor, Me.-City debt proper .•••......... . .... 1865 to '72 1:000 500 &c. 1,000 Water loan bonds, coup. (A.ct Feb. 22, 1875). 1875 500 &c. European & North American Railroad. . . . . . . . 1869 1 ,000 Bangor & Piscataquis Railroad .... ·,-.......... 1869 500 &c Bath,Me.-Fund. debt ($78,000 are 6s, 97, J.&J.) ..... . Various. Knox & Lincoln RR., for stock and coupons Various. Androscoggin Railroad... . . . . . . . . . . . . . . . . . . . . . . is6i Various. Knox & Lincoln Raih·oad ($23,750 each year) 1869 Various. do do (F.&A. and M.&S) . . 1871-'72 Various. Railroad refunded .. _........................... . ..... Boston-City purposes, war·debt. &c .. ......... . 1852 to '64 1:000 City debt afi:d Charlestown .................... 1864 tr80 1,000 do registered.... . . . . . . . . . . . . . . . . . . . . . . . . 1878- 82 . ... do do .....•••..................... 1879 .... do do . .... ......... .. .. .. .. .... ... 1877 City debt....................................... Various. ..... West Roxbury. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... Burnt district, sterling loan........... .. ....... 1873 £100&e Consolidated street improvem't, sterling loan. 1869 £100&e Mystic water debt, assumed .................. 1862 to '83 1,000 Cochituate Water loan, 6 p er cent ............. 1866 to '7G do do 5 per cent ............ 1875 & 'W do do 4 per cent............. 1878 do do Sterling . .............. 1872 £100&e do do 5 per cent gold....... 1875-'7G . . .. do do 412 do ... . ... 1879 ....... do do 4 do . . . . . . . 1879-'80 .... .. do do 4 per cent ............. 1883-84-85 ...... do do 312 per cent........... 1884-'85 Broo1et1111r-Brooklyn local improvement loan... 1861 1:C>oo Mount Prospect Square loan................... 1857 1,00.0 Soldiers' aid fund loan.................. . ...... 1865 1,000 Gowanus canal improvement loan, local...... 1866 1,000 Bushwick avenue do do do . . . . . . 1865 1,000 SouthSeventh st. do do do . . . . . . 1866 1,000 Union street rmprovement loan, local.... . . . . 1867 1,000 Fourth avenue do do do .... 1868 & '69 1,000 Wallabout Bay do do .... .....•• 1867 1,000 New York Bridge loan, registered and coupon 1870 1,000 Bonds for N. Y. & Brooklyn Bridge, cp. orreg. 1875-'83 1,000 ·--· ---· =~i~r ro~~~~::::::::::::::::::::::::::::::: rn~i ---- ---· ---- F. & A. ooston, Merchants' Bank. Feb .. 1885 to '94,, $150,000 6 M. & S. New York. 448,000 1884 to 1900 7 l,OJ8 ,000 4,5,6,7 M. & N. New York and Albany. 1910-'21 M. & N, N. Y., Merchants' Nat. Bk. Ma:, l, 1904 115;000 7 M. & N. do do 20,000 1884 to '85 7 do do Feb. 1, 1883-1912· 1,090,000 6&7 F. & A. F. & A. do do Feb. 1, 1883-4-5· 110,000 6 J. & J. do do July 1, 1905 to '10145,000 · ·.i " Albany. 62,000 6 M. & N. N. Y., Del.& Hud. Canal Co. i8915_:'fl7 860,000 8 J. & J. New York, Park Bank. 1886 & 1892 365,500 7 J. & J. do do J. &J., 1890 400,000 8 T. & J. do do J. & J., 1902. 418,000 J. & J. New York, Fourth N. Bank. Jan, 1, 1904 7 427,000 8 J. & J. Atlanta or New York. Jan. 1, 1897 77,500 52,1)00 10 M. & S. do do Sept. 1, 1885 5 J. & J. do do July 1, 1911 68,500 6 J. & J. New York, Park Bank. 1886·11396 385,000 J. & J. New York anti Atlanta. 1914 6 55,000 6 & 7 Various, Augusta, Treasury. 1886 to 1915 2,2 53,000 6 Q.-J. Balto., Farm. & Plan . .Hank. July 1, 1890 7,306,546 5 M. & N , Balto., Nat. Merchants' Bk. July 1, 1916 5,000,000 5 M. & N. do do After July, 1916' 1,000,000 6 M. & S. do do Sept. 1, 1893 2,211,068 6 M. & S. do do Sept. 1, 1893 410,353 555,566 6 ~-M. Balto., Nat. Mechanics' Bk. Sept. 1, 1890 6 .-J. do do Jan. 1, 1895 185,723 4 .-J. 1920 200,000 6 Q.-J. Balto., Farm. & Plan. Bank. Jan. 1, 1890 5,000.000 6 Q.-J. do do 1900 and 1902 1,500,000 5 Q.-J. do do After 1895 1,0~9,061 4 M. & N. City Register's Office. After Nov. 1, 1920, 500,000 6 Q.-J. Balto., Farm.&Plan. Bank. July 1, 1900 800,000 6 J. & J . Balto., N. Mechanics' Bank, Jan. 1, 1902 1,000,000 do do April 9, 1900 1,957,000 3·65,5&6 Q.-F. 3 Q.-F. do do 1900 100,000 6 A. & 0. do do Oct. 31, 1886 1,015,300 5,000,000 4, 5 &6 J. & J. Balto., Nat. Merchants' Bk. July 1._1894, 1922 4 J. & J. Balto .. CityReg'ter's Office. A.fter Jan. 1, 1920 250,000 4 .... . . . . .. . . . . July 1. 1925 617,000 4 ...... .... 1925 67,000 6 J. & J. Balto., N.Mechanics' Bank. Jan. 1, '90 & 19001,375,000 6 J. & J. Baltimore, Franklin Bank. Jan. 1, 1895 117,000 7 Various Boston1 Merchants' N. B'k. 1892 50,000 4 M. & N. ao do 1886 to 1890 50,000 6 J. & J. do do Jan. 1, 1894 100,000 6 J. & J. , do do July 1, 1905 500,000 6 J. & J. do do Jan. 1, 1894 1,000,000 do do April 1, 1899 925,000 6 & 7 A. & 0. City Treasury. 1887 & 1897 180,500 5 & 6 M. & 8 6 Varioue Boston, Second Nat. Bank. 1885 & 1898 154,ooo · 6 A. & O. City Treasuryand Boston. Jan. to Oct. 1891 425,000 6 J. & J. Boston, Hide & Leather Bk. July 1, 1884 to '99' 559,700 { 6 Various Boston, Second Nat.Bank. 1891 & 1902 4 J. & J. July 1, 1902 247,000 5 g. Various Bo.s ton, Treasurer's Office. 1885 to '87 937,000 6 Various do do 1885 to '97 9,778,500 4 Various do do 1887-1914 9,058,000 4½!g. A. & O. do do Oct., l Q89 450,000 412 Various do do 1887 490,000 5 Various do do Various . 230,000 do do 1886 to 1891. 7 Variolll! 1'10,000 5 g. A.. & O. London, Baring Brothers. April. U393 4,997,604 5 g. J. & J. do July, 1899 2,9i)6,602 1886 to 1913 839,000 5 & 6 Various Boston, Treasurer's Office. 6 Varioufl do do 1897 to 1908 4,897,000 5 Varioue clo do 1907·1908 13,000 4 A.. & o. do do 1908 588,000 5 g. A.. & O. London, Baring Brothers. Oct., 1902 1,947,274 5 g. .... Boston1 Treasurer's Office. 1905-1908 3,552,000 412g. A.. & o. ao do 1909 268,000 4 g. A. & O. do do 1909-1912 686,000 4 Various do do 1913-1914 1,044,200 312 A. & 0. do do 1914-1915 50,000 7 :\1. & N. Brooklyn. ~ b()W 1891 200,000 90,000 6 J. & J. do "'~ i 1887 490,000 7 J. & J. do ~ ~~ 1885 to '90 7 J. & J. do z p,, l~fi to 90 68,000 lOL,000 7 J. & J. do ~~~ 1885 to ;90 115,000 7 J. & J. do ·~O 1885 to 90 7 J. & J. do >d ~P-> 1885 to '86 194,000 223,000 6 & 7 J. & J. do ~~.c 1885 to '95 7 J. & J do .:i.ai~ 1885 to '90 128,000 7 J. & J. do 5~.S 1899-1924 3,000,000 do Jo 1905 to 1921 9,245,237 4, 5, 6, 7 J. & J. } --------------------------------------'----------------------its proportion of $895,000 out of a total of $2,395,000 bonds issued bf Albany.-The loan to Alb. & Susquehanna is secured by first mort-j ga:,;e. The valuation of Albany County in 1882 was, approximately : Real estate, $81,604,218; personal, $7,84, ,;366 -estimated to be about three· fourths of tru~ value. City tax rate 1882, 1 ·86. Population, 90,758 in 1880; 69,422 m 1870. Atlanta.-The total bonded debt Jan. I, 1884, was $2,196.500. Assessed value real of estate in 1883, $18,268,269; personal, $8,194,475. Population, 37,409 m 1880; 21,789 in 1870. Augusta.-Of this debt, $600,000 was issued for railroads, and balance rorcanal enlargement, waterworks, &c. Sinking funds, Jan. 1, 1885, $330,000. Taxable valuation m 1885: Real estate, $11,468,310; personal, $5,088,430; tax rate, $1 6 ·.!12 per $100. Population in 1870, by U.S. Census, 15,389; in 1880, 21,891. Balthnore.-The total net debt over and above productive assets, on which the city is chargeable with interest, was $6,175,503 on D ec. 31, 1884. The Baltimore & Ohio Railroad pays interest on $5,000,000. Water loan is paid by income of water works, and Public Park by City Passenger Rail way, and against a total debt of $37,513,591 the citv is charge~ble ~ith inter~st _on only $21,~52,1 %, and_ holds produc~ive assets, mcluding the smkmg funds, eqmvaleD;t to $lo,l 76,6:i2, leavm 00 only $6,175,503 as fl,U ~bsolute. c.harge for m~era~t. There ar~ he~ci $5,559,820 ofunproduct1vesecurit1es. Population m 1870, 267,304; •11. 18f0h 332,g13. Assessed valuation, near the full cash value, and ta,x ra e ave eeniieal Pc:rsonal Total Rate of Tax Years. Estate. Property. Valuation. per $1,000. 1882 .... . $187,636,451 $58,597,605 $246,230,189 13 70 1883... .. 189,913,494 58,889,738 248,803,232 15 00 1884 ..... 191,516,113 58,135,586 249,651,699 16 00 255 16 OO ~~~.--4i; p. 720'.)"····· ,000,000 Bangor, 1'.le.-The loans to Eu. & No. Am. R.R. to Bangor& P is. R. R. are flecured by first mortgai?es on those roads, and interest fully paid from the earnings. The valuations (near full value) and tax rate iu 1884 were: Real estate, $6,505,608; personal, $2,807,195; tax rate, 2·60. Municipal property, including water works, $803,000 Population, 16.851 in 1880, 18,829 in 1870. Bath, 1'.le.-The city holds a first mortgage on the Androscoggin road for the debt, and second and third mortgages on the Knox & Lincoln for https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis several cities in aid of the lati;-er road. Tax valuation, 1881-real estate, $6,511,335. Tax rate, $25 per $1,000; 1882, $6,847,945; rate, $25; 1883, valuation, $7,084,825; rate, $25. Boston.-The population of Boston in 1880 was 362,839; in 1870 250,526. against 177,840 in 1860. The tax levy in 1884 was divided as follows: On each $1,000 of valuation : State, $1 ; county, 29c.; city, $15 71; total, $17 00; but the law of April 17, 1885, limited the taxation in Boston for city purposes to $9 on the average valuation of five years preceding, to which is added the tax for city debt and for State purposes. Up to Jan. 1, 1887, the debt shall not be over 212 per cent of assessed valuation, and after that date 2 per cent. Assessed valuationou May 1 for four vears has been: Years. Re.al Estate. Personal Estate. Tax Rate. Net Debt. 1882 ........ $467,704,150 $204,793,812 $15 10 $24,261,661 1883 ........ 478,318,900 204,113,771 14 50 24,858,817 1884 ........ 488,130,600 194,526,05~ 17 00 26,344,494 1885 . . . . . . . . 49&,975,500 189,429,100 12 80 24,596,580Brooklyn.-The whole citv debt was as follows Jan. 1, 1884 and '85. • Jan. 1, 1884. Jan. I, 1885. rermanent debt ........... .............. $24,361,788 $26,365,237 Water loan .............................• 10,452,000 11,158,000 Debt payable from assessments ........ 4,951,000 4,754,000 Tax certiflcates . . . . . . . . . . . . . . • . . . . . • . . . . ~~000~000 3,000,000 Gross debt........................... $42,764,788 $45,277,237 Less sinkingfund........ ................ . 5,716,608 6,471,606 -- ---Net dellt............ ...•...•...•..... $37,048,179 $39,805,630 Populationm 1870, 396,099, against 566,663 in 1880. Valuation of property and tax rate per $1,000 for three years have been: Years. Real. Personal. R ate. 1883 .... ...•..• •. • • • • • • •· •·· $280,800,597 $18,l35,909 $ 2 6 01 2 6 34 1884 . ........ ..•. •··· •· · · •·· 297,126,666 20,727,406 29 OO 11385. •··· .•...... ........... 311,442,730 19,375,702 The debt of Kings County, separate from the debt of Broo~yn, ts about $4,000,000, of which theUcity is responsible for runeteen twentieths. CITY SECURITIES. 8 (VOL.• XLI. Subscribers -wlll conCer a great Cavor by giving llnJDedlate notice oC any error discovered In these Tables. DESCRIPTION. For explanations see notes on first page of tables Date of Bonds. l Size or Amount _ _ _ _ _ _IN_TTE __ R_E_S_T_.._ _ _ _ _ _ , Principal-When par outstanding. When Where Payable and by Due. Value. Rate. Payable Whom. -------------------,--------•-----,-------· -----------,-------1915to'24 Brooklyn-(Oont'd)-ProspectP.ln,reg.&coup.1860to'73 $1,000 $8,019,000 6 J. & J. Brooklyn.') ProsJ)ectParkloan ............................ 1860to'7~ 1,000 1,217,000 7 J. & J. do I ~. Permanent water loan ...................... ... 1857 to '72 1,000 ~ 11 1 - 8 000 5 6 J. & J . do I '.Sl.bl ~t>-. do do ........................ 1872·'75 1,000 S ' .:> ' l 7 J. & J . do I ~i:q ... ~-.~ Sewerage fund bonds, continuous, local....... Various. 1,000 918,000 4, 5, 7 J. & J. do a: oo1,o ~ Assessment fund bonds. continuous, local.... Various. 1,000 2,468,000 4, 5, 6, 7 J. & J. do § ~t~ TemP,orarytax certificates ........... _........ Various. .... 3,000,000 6 &7 .... do P.ai p.,. Q) Certificates of indebtedness.... ................ 1884 .... 968,000 .... J. & J. do ~z;;;; Bonds to pay arrears to county . . . . . . . . . . . . . . . .... .... 549,000 •• • ,_ ddoo 8 'te ~ · .... 1 8 84 Arrearage bonds, reg. (redeem. in 1894). ..... .... 2,350,000 3 ~ J. & J. Award bonds for lands taken.................. ... . .... 200,000 .... .... do l Buffalo, Jf. Y.-Funded debt bonds .............. 1868 to '84 l,OOO&c 4,260,460 312 to 7 Varioue Bufl'alo and New YorK. Water works bonds ............................ 1869 to '84 1,000&c 2,728,382 4 to 7 Various do do Tax loan bonds .................................. 1880 to '84 1,000&c 427,445 312 to 412 J. & J. do do Oambridget Mass.-City bonds ................... 1864 & '77 1,000 220,000 5 A.. & O. Boston, Bank Redemption. City bonas................................. .. ... 1863 1,000 150,000 5 g. J. & J. Boston, Tremont Bank. 6 do ...................................... 1870 to '76 500 &c. 703,000 J . & J. Boston, Bank Redemption.. do ...................................... 1873-'74 500 &c. 689,000 6 J. & J . do do Waterloan...................................... 1866 1,000 100,000 6 J. & J. do do do ...................................... 1870 to '77 500 &c. 874,000 6 J. & J do do do ...................................... 1867to'69 1,0 00 437,000 6 A. & 0. do do do (reg.) . ............................... 1878 1,000 48,500 5 ... . do d@ Oharteston, S. 0.-Fire loan bonds, coupon. . . .. . 1866 . ... 92,800 7 J. & J. Charleston, Treasury . .. . Conversiodn bonds, to reddeem past-dude debt... 500.000 7 A.. & O. do . ....• . 18 1 8 109,500 6 do 0 0 0 do coup. or reg. . . . . . . . . . . . . . . 1879 100 &c. 3,413,600 4 f · ·& ·i do 0/l.tlsea, Mass.-Sinking fund bonds............. .... .... 286,000 6 .... . . . .. .. . . . Bonds...................................... . . . . . .. . .. .. 25,000 5½! .... . . . .. . . . Funded debt, coup............................. .... 1 ,000 992,000 6 Various Boston, N. Bk ..RedemptioB do notes ...................... _...... . . . .. .. . . 96,000 412 Various Water loan, coup- .. · .. ··----··-···............ .... 1 ,000 200,000 6 F. & A . Boston, N. Bk. Redemption Ohicago-Waterloan ............ - ... -···--···-·.. ..•. 500,&c. 132,000 6 J. & J . N. Y., Am. Ex. Nat. Bank. Water loan_ ....... _... _... _... -- . . . .. . .. . . . . . . . . .... 1,000 3,490,000 7 J. & J. do do Water loan (refunding) ...... _................. · 1882 100, &c. 333,000 3·65 J. & J. do do f I I f f :f: s~ I 1924to'28 1885 t 0 1912 3 years from date. 3 years from date, } •• .. . .:;. 192 ~ .......• 1886 to 1925 1886 to 1901 1886 to 1900 1887 & 1889 Jan. 1, 1893 1885 to '96 July, 1903-4-5 July 1, 1886 July 1, 1890 to '97 Apl. 1, 1887-1889 ....... . 1890 1888 to 18!?7 1898 Jan. 1, 1909 1884 to 1908 1884 to 1888 1891 to 1895 1889·1890 Aug. 1, 1887-'95 1897 & '98 July 1, '88 to '95 1902 J~:a ~J>o 8ewerag£0 bonds:::::::::::::::::::::::::::::::: 500 &c. 1,2J~;ggg ~~ ~~ 1880 12 1~o1 River improvement boads . _................... .... 1:000 2,608,000 7 J. & J . do do 1890 to '95 6 Municipal bonds __ .................. _....... _... . . •• 1,000 1s 0•,0oo JJ.. && JJ.. ddoo ddoo July , 1 s9t 5 & •96 7 Municinal and School bonds. ___ .... ·······-··· .... 500 &c. 215 3 6 15 0 0 l!8 8 5 0 199 Municipal bonds (refunding loan) . . . . . . . . . . . . . 1881 _... 843,500 4 . -. . do do 1901 Cook County debt_ ....................... .. .... 1865 to '80 500 &c. 4,941,500 412 to 7 M. & N . N. Y., Metropolitan Bank. May 1, 1885•'92 Oincinnati--Bds.toO.&M.RR.topur.whf.prop.N 1855 1,000 210,000 6 M. & N . N.Y.,Am. Exch. Nat.Bank. Nov., 1885 BondsforerectionofaWorkhouse_ ... _.... U 1868 1,000 250,000 73-lOJ.&D. do do June,1888 Bonds for Water Works . .... ........ ........ C3 1869 1,000 150,000 7 3-10 J. & D . do do 1888 & 1889 Bonds for Common School purposes_·_... _... P 1863 1,000 98,000 6 J. & J . do do Jan., 1890 Bonds to O.&M.RR.topurchasewhf.prop __ N 1855 1,000 194,000 . 6 M.&N. do do Nov. :"1890 Bonds for ext. anct impr. Water w _.C, D. & E 1847 to '50 500 &c. 397,000 6 A.. & O. Phila., Bk. of North Amer. April, 1895 Bonds for funding :floating debt_ ... _... A&A2 1847 to '48 500 &c. 171,500 6 M. & N. do do May, 1897 Bonds for new ~ospital.- .........,........ S&S2 1867·'68 1,000 750,000 7 3-10 Various N.Y., Am. Exch. Nat. Bank. 1897 & 1898 Bondsforfundingfloatingdebt ___ ... _... - ... L 1853 1,000 60,000 6 · J. & J. do do Jan.., 1900 Extension.and improve. WaterWorks ... K &F 1851·'53 1,000 175,000 6 Various Phila., Bk. of North Amer. June & Oct., 1900 Bonds to purchase Orp'n Asyl. grds. for park.O 1858 1,000 131,000 6 M. & S. Cincinnati. Mar., 1888& 1908 Bonds for sewerage_ ... _..... __ .. _... _... _... _R 1869 1 ,000 150,000 7 3-10 M. & S. N. Y., Am. Exch. Nat. Bk. Sept., 1899 Bondsforimprovmg Gilbertavenue- ....... U 1869 1,000 150,000 7 3-10 M. & S. do do Sept.,1899 Bonds to build Eggleston avenue sewer .... B3 1869 1,000 100.000 7 3-10 A. & O. do do Oct., 1899 Bonds for improvement ... ·----· .. -···---···W 1871 1,000 133,000 7 3-10 J. & D. do do March 1, 1886 Bondsfor WaterWork purposes_ ... _.. C4&C5 1871·'72 1,000 450,000 7 F. & A . do do Aug., 1886-'97 General i:mprovement·-··--··-·· ..... ---·· -W2 1871 1,000 600,000 7 J. & D . do do Dec. 1, 1891 Cincinnati Southern RR. ....... ---·· .. -· .. -··1872 500 &c. 8,769,000 7 3-10 . J. & J. do do July 1, 1902 do do ($3,200,000 are gold 6s) l 876 500 &c. 4,8 51,000 6g. or 7·3 M. & N. do do May 1, 1906 do do ... ·-·- .. ····-········-·-· 1878 & '79 1 ,000 1,759,000 6 & 7 Various do do Nov. 1, 1908·'09 Floating debt bonds, coupon ___ ... _........... 1874 1,000 995,000 7 M. & N. Cincinnati. May 15, 1904 Park improvement_ .... _...... _... __ ........... 1875 1,000 65,000 7 J . & J . N. Y., Am Exch. Nat. B'k. 1890 Water•works bonds . ...... ·-··· - ·· .......... Dl 1875 1,000 300,000 7 F. & A. Cincinnati. Auf;?.,'85, ' 90 &'96 Bonds for McLean Ave. sewer .. ....... _.... U2 1879 1,000 175,000 5 & 6 M. & N. N.Y,, Am. Exch. Nat. Bank. May 1889·1909 Hospital bonds ...... ····-···---···--·-· .. -- 83 1876 .. _. 50,000 7 M. & N. C,ncinnati. May 1, 1906 Uninrsity . ... -................... .. .. , -.... H2 -··· 76,000 7 F. & A . - --· -····· Aug.1, 1897 Street improvement bonds, short .. _____ ... _._. 1876 to '83 Various 265,249 5 &7 Variou.; Cincinnati. 1885 to '93 Consol. a. f. bonds, 30·50 yrs. (Act Apl. 9, '80, 1880 & '81 1,000 1,988.000 4 &5 Various N. Y., Am. Exch. Nat. Bk. 1910 to 1931 Assessmentbonds ................. - . .. . U3&U4 --·· .... 64,706 4&5 Various ·· ··-· ··· · 1889&1890 Work House and Inflrmary_···-···---·........ 1882 100 104,000 4 & 6 J. & J. Cincinnati. July 1, 1886to'92 Deficiency loan (redeemable after 1891) ·-··· 1881 100 &c. 500,000 4 J. & D. N. Y., Am . Exch. Nat. Bk. .June L, 1901 Bonds ..... ............... -----·--··-···· .. ···-1885 2,000,000 4 - -·· Ole11~and-Waterworks ($200,000 are6p. et.).1872 to'84 1:000 1 ,100,000 3·65to 7 Various N. Y., Am. Exch. Nat. Bk. 189i·&·;93 Funded debt ($203,000 6s, $32,000 5s) ... _.. _ 1869 to '84 1,000 1,880,000 4, 5, 6, 7 Various do do 1885 to '94 Lake View Park _____ .. -·-·. _-· __ .·- .. -· ..... ___ 1872 to '74 1 ,000 315,000 7 Various do do 1887 w '91 Canal a11.d canallock ($11,000 are 6s) ..... _.. _ 1874 to '79 1,000 275,000 6 & 7 Various do de!> 1894 to '98 School ($100,000 are 6 p. ct.) ..... ___ . __ .. _... _ 1869 to '73 1,000 1 50,000 7 Various do do 1885-6-7 Bonds,variouspurposes ________ -....... ·- ··-1885 303,000 412 Various ao do 1886-'99 Main sewers, specialasse-ssmen.t._ ........... Various. l OO&c. 369,700 4to7 Various do do 1885to'93 Street improvem'ts do _............ Various. 1 00 &c. 267,300 4 to 7 Vario s do do 1885-6 Streetdamages,&c., do -----·····--- Various. l OO&c. 202,800 4to7 Various do do 1885to'89 Infirmary . . ........... _.. .. .. _........ . _....... 1876 1,000 24,000 6 Various do do 1885 to '87 Viaduct (mostly F. & A., A. & 0. and J. & D.) 1873 to '78 1,000 2,138,000 5, 6 & 7 Various do do 1893 & 1907 Des Moines, Iowa-Renewed judgment bond_.__ 1875 1,000 228,000 7 & 4 J. & J. New York, KoURtze Bros. July, 1885 or '92 Fundine bonds, redeemable lt878 ..... ___··-·-1878 1.000 175.000 7 J. & J. N. Y. Chemical Nat. Bank. July, 1888 or '98 Bu:fl'alo.-Valuations and tax per $1,000 have been: The assessed value of real estat~ is about one•third of its true value. Years. Real estate. Personalty. Tax Rate. Po-pulation in 1870 wa 298,977, and in 1880, 503,185. The South Park,1878 ... . ...................... _ $80,929,165 $7,947,380 17 60 West 1Jhica11:o .t'ark and Lincoln Park loans are not debts of the city, 1883 . ....... .......... _...... . . 93,167,090 8,796,675 16 27 but of distinct corporations. 1884_ .......... _ .............. 96,341,455 8,459,735 16 40 Olnclnnatl.-In addition to the issues above named there remains, Buffalo also pays 7·10 of Erie county debt. Coupon bonds are exchange• several smaller amounts, as follows: $25,000 (Y &Y2) 6s, 188d; $15,000 able for registered- The interest on different bonds is 312, 4,412, 5, 6 Gs (Q.), November, 1890; $27,000 6s (A.), March, 1897; $76.000 (H2.), and 7 per cent. Population, 155,134 in 1880; 117,714 in 1870. August, 1897; $29,000 (V) os, 1885; $19,000 4s, l 91; $64,706 (U3U4), OaJDbrldge, Itiass.-The sinking funds,Nov. 30, 1884, amotmted to 1889 and 1890. City holds $1,274,000 of Cincinnati Southern bonds 1n $1,377,358. Tlie investments are nearly all in city bonds at par and sinking funds. In 1870 the population was 216,239, against 255,139 in stamped "not negotiable. Valuation, 1883, real estate $39,821.700; 1880. ·.rhe following table from the books of the Auditor of Hamilton person.al $11,975,640. Valuation in 1884, $41,289,200 real estate and County, Ohio, exhibits the assessed valuation of the city of Cincinnati $11,612,300 personal; total, $r>2,901,500; tax rate, $1 68 per $100. in the year 1860, and from 1870 to 1884: Population, 52,669 in 1880; 39,634 in 1870. Real Personal Total Tax per Yeara. Estate. Estate Valuation. $1.000. Charleston, s. 0.-The bonds of Charleston are mostly held within 1860_ ......... $61,620,904 $31,411,912 $93,032,716 $17 45 the State of South Carolin.a. Conversion bonds of 1878 and 1879 are issued 1870 .......... 78,736,482 57,370,754 136,107,236 31 60 in exchange for city stock. Valuations and tax rate per $1,000 have been: 1871. ......... 123,427,888 56,934,044 180,361,932 22 20 Years. Real Estate. Personal Pro-p. Tax Rate. 1872_ ......... 119,621,856 55,462,410 175,084,296 20 10 1882 .... . - -................ $15,454,010 $7,926,602 $22 50 1873 ..... -.... 121,479,280 64,166,460 185,645,740 23 06 1883.. ....... .... ... .... . .. 15,854,575 7,419,784 23 80 1874 .......... 123,231,790 58,708,284 181,950,074 23 38 1884 .... .... -.... --... -.. . . Hi,246,865 8,186,216 20 00 1875 .......... 125,976,835 58,521,730 184,498,565 24 82 -Population, 49,984 in 1880; 48,956 in 1870. 1876 .......... 127,143,900 56,809,066 183,952,966 27 04 50,609,872 179,430,142 29 10 Chelsea, lliass.--S1n.k:in1;r fund, Jan. 1, 1885, $286,653, and debt, 1877 - ......... 128,820.270 11,78 .......... 129,043,880 43,830,188 172.874.068 28 54 $1,661,800. Valuation in 181;4, $18,153,497; tax rate, 18·60. Tax val• 40,832,505 169,305,635 28 98 uation, 1883, $17,374,335; tax rate, $18 40. Valuation in 1882, $17,029,· 187!:I .......... 128,473,130 1880 ... -...... 129,956,980 37,578,376 167,535,356 31 00 722; tax rate, $18 80. Population, 21,782 in 1880; 18,547 in 1870; 24,347 in 1884. · 1881. ......... 120,045,230 41,359,163 161.404,393 22 20 1882 .......... 138,342,188 28,643,917 166,986,105 23 82 Ohlcago.-The city debt is limited to 5 per cent of the Illinois State 47,050,496 169,925,286 20 50 valuation .. Of the fw?.ded debt, $3,955,000 is on account of the Water 1883 .......... 122,874,790 41,908,822 169,534,192 25 56 Works, which yield an mcome much above the interest charge on the debt 1884 ......... 124,625,370 , - - -Equalized Value.---- Tax Rate The city is the sole owner of the stock of the Cincinnati Southern Rail• Years. Real Estate. Personal. per $1,000. road, leased as per terms, V. 33, p. 281, and with the waterworks and 1880 . . . .. . . ................... $89,031,955 $28,101,678 $33·33 other property owns real estate assets put at $35,775,000. 1881.......... . . . .. . . .. . . . . . . . 90,099,045 29,052,906 34·72 Oleveland.-The sewer, street improvem'ts and street opening bonds 1882 ........ ········· ....... .. 95,881,714 29,052,906 33·72 are for special locali:mprovements, and redeemed by assessments on the 1883 . . .. .. .. . . .. . . . .. . . .... . . 101,596,787 31,639,717 34·10 property benefited. Assessed valuation, tax: rate, debt and sinking 1884 ............ .............. 103 606 743 31 720 237 34·82 funds have been: https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1 DECEMBER, OITY SECURITIES. ~885. l 9 Subscribers will con.fer a great Cavor by giving illltnediate notice oC any error discovered In thefe Tables. DESCRIPTION. For explanations see notes on first page of tables. Des Moines, Iowa-( Oontinued,)- Coupon warrants and sewer and paving bonds Detroit,Micli.-For Water W.Co., on city's credit Public Building stock (City Hall) bonds ....... Public sewer bonds ($35,000 are 6s) ...... . ... B onds for purchase Belle Isle . . . . . . . . . . . . . . . . . Marketbonds..... .......... .. . . .. . . .... ...... . Elizabeth, N. J.-Improvemenli bonds ..•........ Funded debt bonds ............................. School House bonds .........................• .. Market House bonds ...................•... .... Consolidated improvement bonds.... . . . . . . . . . Funded assessment bonds.. . . . . . . . . . . . . . . . . . . Tax arrearage bonds.............. . ............ New Adjustment bonds and scrip . .. ...... .. .. Evansville, Indiana.-E. H. & N. RR. bonds.... City wharf bonds................ ...... ........ E. C. &P. RR. bonds ..........•... ·..•......... do do Water works bonds............ . .....•...••.••. Redemption bouds. ... . . . . . . . . . . . . . . . . . . . . . •• . do do ................ ...........•. do do .•........... ......•...••.... do do ..................•.... • .... do do ......•..... ..... . ...... ..... Fttll Rivet•, Mass.-City notes... . . . . . • . . . . . . . . . . . City bonds...................................... do ... .. .. ....... ..... .......•. ..•....... d@ ••••••••••.•••.••••••••••••••••••••••. do .••...............................•... do Waterloan................. ..... ................ do ..•...........•...•.......•........... do ..............•...........•. :. ........ Date of bonds. 1882 & '84 1855 to '81 1859 to '71 1872 to '77 1879 1880 1871 to '74 1870 to '75 1872 to '73 1865 to '66 1875·'76 1877 1876 1882 1868 1869 1870 1870 1870 1876 1876 1877 1878 1881 . ... . .•. . .•. • ••• . ... ..•. . .•. . .•. . ... l INTEREST. Size or .Amount - - -- - : - - - - - - - - - - - - - - - Principal-When par outstanding. Rate. P:::ble Where and by due. value. ~h~:::~ - - -· ----------- $182,000 Various Des Moines and Boston. 5 Various. 1,451,000 4to7 Various N. Y., First Nat. Bank. 1887 to 1906 412.500 Various 7 do do 1886 to'91 ..•. 292,000 6&7 F. & A. do do 1892 to'97 100,000 F. & A. 4 do do 1899 36,000 1886-1892 1,000 variOUs City 850,000 7 1879 to'81 1,000 415,000 Various do 1882 to'95 7 1,000 48,000 Various do 1882 to'93 7 1,000 41,000 Various do 1882 to'86 7 1,000 764,000 A. & 0. do 1885 to'96 7 1,000 260,000 7 J. & D. do , 1907 1,000 196,000 1'.11.& N. do 7 1886 500 &e. 1,656,720 4 J. & J. N. Y., Mercantile Trust Co. July 1, 191Z 1,000 250,000 M. & N. N. Y., Farmers' L. & Tr. Co. Ma.} 1, 1898 7 1,000 M. & N. do do 100,000 May 1, 1899 7 1,000 196,000 J. & D. do do Dec. 1, 1890 7 1,000 100,000 J. & D. do do Dec. 1, 1895 7 1,000 300,000 7 3-10 J. & J . do do Jul7. 1, 1895 1,000 A. & o. do do Apnl 1 , 1906 7 300,000 1,000 M. & N. do do l\fay 15, 1906 7 105,000 1,000 J. & D. do do June 1, 1907 100,000 6 1,000 .April 15, 1908 100,000 6 F ..&. A. 1,000 100,000 Feb. 1. 1911 6 Large. 311,000 3 7a, 4, 6 Variou.3 City Treasury. Nov., 1885 to 92 lOOO&c. 45,000 Various do 1891 6 1,000 5 g. F. & .A. Boston, Revere Bank. Aug. 1, 1894 600,000 1,000 450,000 5 &6 M. & N. Boston, Bank Redemption. May 1, 1895 do do May 1, 1895 100,000 4 261,860 do do 1896-'97-'98 5&6 1:000 500,000 do do Feb. 1, 1900-1909 ..6. 1,000 450,000 Nov. 1, 1892-1906 do do 1,000 550,000 do do Aug.1,1899-1905 6 0 200,000 1, 1908-1909 ..6. J. ·1··J. Boston, Merchants' Bank May July 1, 1893 Fitchfu rg, Mass.::..City boiias:: :: :: ::::::: : :::::: 1873 1:000 400,000 Water loan..................................... 1871 1,000 J. & J. do do July 1, 1891 . 300,000 6 do . 1875 1,000 J. & J. do do Jnly 1, 1905-1906 100,000 6 do registered.......................... 1883 1,000 50,00J A. & O. City Treasury. Oct. 1, 1903. 4 6alveston, Texas· Bonds for various purposes ... 1869 to '75 100 &c. 21,800 Various Galveston, City Treasury. 1885 to '91 10 Limited debt bonds (sinking fund 2 per cent). 1877-8-9 100 &c. "M. & S. do 1893-1909 510,100 8 J. & D . New York or Galveston. 1920-1925 100 &c. 808,900 5 Gal~~ston Co~ty bonds: .& 1882 J. & J. N. Y.,Bank of New York. 1902 417,000 6 Hartford, Oonn.-Waterbonds................... 1865-'81 City Treasl!ll'y. 1890-1906 1:000 937,000 5&6 Various 1,000 City bonds (H.P. &F. RR.).................... 1876 J. & J. Suffolk Bank, Boston. Jan. 1, 1891 500,000 6 Funded debt.................................... 1868 1,000 J. & J. City Treasury. Jan. 1, 1893 300,000 6 Capitol bonds.............. . . . . . . . . . . . . . . . . • . . . 1872 1,000 J. & J. do Jan. 1, 1897 1,000,000 6 Hartford town debts to railroads 10-25.. ..... 1879-'80 1,000 Town Treasury. 10 to 25 years 1,250,000 412 J. & J. do do war. . . . . . . . . . . . . . . . . . . . . . 1863 J. & J. do $10,000 yearly 1,000 90,000 6 do floating debt................... . ... 1,000 203,000 J. & J. do Jan., 1900 6 Hoboken, N. J.-Ronds ......•.................•.. 1864-'79 500 &c. 224,000 1886 to 1905 6 &7 Various First .Nat. Bank, '. Hoboken City bonds...... ...... . ..... .. .... . ... . . . . . . . . . . . . . 1872 500 &c. 119,500 A. & 0. do do 1892 7 School bonds................................... 1877-'79 1,000 43,750 6 &7 Various do do 1892 to 1894 Water bonds.................................... Various. 500 &c. 91,500 5, 6, 7 Various do do 1890 to 1903 Improvement bonds ............................ 1878-'81 1,000 do do 1898 to 1901 608,000 5 &6 Various City Hall and Engine House bonds............ 1880-'83 1,000 do do 1903 to 1910 75,000 5 &6 Various Holyoke, Mass.-City notes.......... . ........... 1871-'74 City Treasury. 1885 to 1889 180,000 4to7 VariolL, City bonds, sinking fund....................... 187.t A.. & o. do Oct. 1, 1889 1,000 271,000 6 Water loan do ................_........ 1872 1,000 J. & J. do Jan. 1, 1900 250,000 6 A.. & o. do Jan.&.Apr.1, 1894 Railroad loan do ($60,000 are J. & J .) . 1873 1,000 226,500 7 lndia11apolis-Bonds to railroads ...........•... 1869 to '70 155,000 " Jan. City Treasury. Jan. 1, 1889 to '90 500 6 Bonds to Un. RR. Tr. Stock Yard (mortgage). 1877 J. & J. N. Y., Winslow, L. & Co. Jan. 1, 1897 1,000 500,000 6 Loan bonds, series A.......... . . . . . . . . . . . . . . . . . 1873 1,000 do do July 1, 1893 300,000 7·3 .T. & J. do do B............. ... ..... ... .. 1874 do do July 1, 1893 1,000 300,000 7·3 J. & J . do do 0....................... ... 1874 do do July 1, 1894 1,000 300,000 7·3 J. & J. do do D........................... 1875 do do July 1, 18~5 200,000 7·3 ,J. & J. 1,000 Purchase-money bonds-Southern Park....... 1874 109,500 do do Jan. 1, 1~99 500 7·3 J. & J. Jersey Oity-Water loan bonds, mostly coupon 1852 to '77 1,000 J. & J. N. Y., Merch. Ex. N. Bank . Jan., 1889 to 1909 984,000 6 Water loan bonds,mostly coupon ............. 1869 to '73 1,000 3,329,000 Various do 4<> 1899 to 1913 7 Waterloari. ..• . ................................. do do Feb. 1, 1913 200,000 b J .. &.J. Forcy.year bonds............................... 1872 do do July 1, 1913 517,000 1:000 7 Improvement bonda ....~...... .. . . .. . . . . . .•. ••. 1871-'72 500&c. 2,66.l),OOO do do l\lay, 11>91 M.&N. 7 do do .......................•.••. 187Z to '74 1,000 do do 1892 to 1")06 2,630,500 Various 7 Morgan street dock............................ 1870 125,000 do do June 8, 1900 1,000 J. & J. 7 Funded dept bonds ........ :......... . .......... 1872 do do May 1, 1897 S00.000 1,000 M.&N. 7 Old Jersey City bonds, coupon ..........•..... 1864-'65 do d0 1889-1890 1,000 558,000 Various 7 Hudson City bonds. .......... .............. .... 1864-'70 Various 101,750 do do 1885-'89&,J.900 Various 7 Bergen scnool loan bonds...................... 1868-'70 l,OOO&c do do Jan., '98 to 1900 150,000 J. & J. 7 Bergen iatreet improvement bonds . . . . . . . . . . • . 1869 1,000&c 400,000 do da July, 1889 J. & J. 7 . do bounty loan............................ 1865 Various 41,000 do do 1889 7 Variou8 Assessment funding bonds.... . . . . . . . .. . •. . . . . 1875-'76 9@0,000 do do 1905-1906 Var10u~ 7 Revenue bonds, coupon or registered......... 1876 400,000 do ... do June 1, 1886 J. &D. 7 1 Demand, 975,000 512 F ..&..A. N. Y., Merch. Ex. Nat. B'k. !\fii~Yniiiaioai1ni ·or 1819 1:000 1,353,000 Feb.1 , 1 909 6 Bonds to pay maturing bonds, &c.... . . • . . . . . . 1880-'l 1910-1911 600,000 do do 5&6 Various Bonds......................................... . . ... 1904 572,000 6 Years. Real & Personalty. Tax ~ 1,000. General Debt. Special Debt. Fall River, 1Uass.-Thesinkingfundsamountedto$715,367 Jan.1, 1882 ..... ~82,684,212 $14320 $5,943,000 $750,100 1885. Total debt, including water debt, $3,467.861. Population in 1884, 1883 ...... 84,490,060 1534 5,982,000 839,800 53,500; 48,961 in 1880; 26,766in 1870. Valuation in ld85, $13,815,275. 1884..... . 85,978,005 14210 6,386,000 875,800 Fitchburg, 1'Iass.-Population 12,270 in 188:>; 11,260 m 1870. -Population, 160,146 in 1880; 92,829 in 1870. tax rate per $1,000, &c.: .Des Moines, Ia.-Assessed value of property $7,200,000, which i~ Valuation. Years. Real Estate. Pers'i Pr-op'ty. Tax:. D ebt. Sink.Fd.Jan .1. about 20 per cent of true value. Tax rate, $5 per $100. Warrants out- 1883 .. .••. $7,672,655 $2,719,979 16 40 $800,000 $114,5 06 standing J an., 1885, $90,082 ; cash on hand, $51,275. The renewed 1884. .. ... 7,705,450 2,746,428 16 40 850,000 146,522 jµdgmen~ bonds for $170,000 are paid off July, 1885. Population in 1870, 1885 ..•... 7,998,725 3,055,653 16 80 850,000 178,311 1'2,035 ; m 1880. 22,400. -The assessed valuation f real estate is about the cash value. Detroit, JJ.Iich.-There are al3o $10.00() House of Correction bowls Galveston, Texas.-Assessed value of real and personal property, due 1893. Assets in inking fond July 1, 1885, $838,238; net city d ebt, 1883-84, $18,222,700. Tax rate, $1 50 on $100; 1884-85; valuation, $12,261. The population in 1870 was 79,577: in '80, 116,340; in 1883, $18,588,196; tax rate 1 50. In April, 1882, the Galveston County 10 130,000. The value of water works Jan. 1, 1885, was $3,478,5G5, per cent bonds were called in and 6 per cents issued instead. Popuagainst a debt of -~1,451,000 Sept., 1'~8'>. Tl:J.e water worirs b .>11ds lation m 18 70, 13,812; in 1880, 22,2-!8; 1882, estimated, 32,000. are issued on a pledge of the city credit, and $75,000 per year collected HartCord, Conn.-T tal city debt, .April 1, 1885, $2,787,000 ; net, in taxes to pay interest on them. Valuations (based on true value) and after deducting resourees, $1,969,667; net town debts, Oct. 1, 1884, tax rate have been : $1,248,021. Assessed valuation in 1883, $!6,000,000; in 1884, $'16,000,Years. Real Estate. Personal. Total. Tax Rate. 1884 .•••.. $82,793,115 $27,028,8 0 $110,721,995 $11 ·4 l 000. Population, 42,553 in 1880; 37,743 in 1870; 30,000in 1883. Hoboken, N. s.-The total debt June, 1885, was $1,161,750. 1885 .•••.. 87,536,645 28,71:;J,30(} 116,249,945 10·77 Assessed valuations in 188!: Personal, $1,343,941; real estate, $14,672,Elizabeth, N. s .~Default was madA in interest Feb. 1, '79. Suit s on 700; tax rate, 2·35; population, 35,000. bonds are pending. Total bonded and floating debt July 15. 1885, $4,Holyoke, 1'.Iass.-Bonds all coupon. but can be registered. Total net 264,640. A proposition to issue 4 per cent bond3 at 50 per cent of debt, $817,318. Valuat1on, 1883, $14,397,250; tax rate, $14 40. Valuthe race value of old bonds was made, and $1,656.720 of the new bonds ation in 1884, $15,527,995; tax rate, $14 80. Population, 21,915 in were issued up to July 15, 1885. The ~ercantile Trust Company in New 1880; 10,733 in 1870. York acts as the agent. Assessed valuations and t ax rate have been as Indlanapolls.-The School Board is a distinct organizat'n and levies :follows: In 1881, $1 '2, '296,307, rate, 1 ·96; in 1882, $12,182,035, rate, its own tax ($2 20 for 1884), which is included in tax rates. There 3·12; in 1883, $12,471,115, rate, 2·40; in 1884, $12,300,000 (estimated), are a few other small iss es amounting to $50,000. Valuation and tax rate, 2·00. In 1885 $12,465,760, rate 2·64. Population 1880, 28,229; per $1,000 have been: in 1870, 20,832. -(V. 39, p. 581; V. 40, p. 625.) Tax. Total. Years. Real Estate. Personalty. 10·70 Evansville, Ind.-There has been default in payment of interest 1881. .......... $39,063,725 $61,901,217 $12,837,492 11·20 52,61:&,595 and suit has been brought against the city on the water bonds. Popula- 1882.... . . . . . . . 39,315,725 13,296,870 11·20 tion in 1870, 21,830; ln 1880, ~9,280. Assessed valuation (true val ue), 1883. .. . .. .. ... 39,335,860 53,128,150 13,792,290 tax rate per $1.000 and debt have been: 12·20 54,041,600 1884 . ... .. .. .. . 40,149,950 13,891,650 Years. Real Estate. Personalty. Tax. D ebt. -Population, 75,056 in 1880 48.244 in 1870. 1883 ......•..... $13.204,715 $6,797,890 $12 50 Sersey City.-One of the main causes of trouble in Jersey City $1,651,000 10 00 1.651,000 :f:inances has been the fa· ure to collect back assessm.ents and in the 1884 ..•. ···· · ··· 13,527,090 6,519,820 -(V 41, p. 494, 527 .)J immense value of railroad property exempt from taxation. G~ ·c;: ·s: F: RR:::: i~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ilebi: &c:; coup~ ·rei. $ .•.. 500&c. ~ea·sury. ~g gg OITY SEOURITIES. 10 (VOL. XLI. Subscribers "'1ll confer a great Cavor by giving lmm.edlate notice oC any error discovered in these Tables. INTEREST. Date o! Size or Amount Principal-When DESCRIPI'ION. Bonds. par outstanding. Rate. Due. When Where Payable and by Value. • Payable Whom . For explanations see notes on first page of tables ... I 1------1---- 7 .... New York, Kountze Bros. 1890 & '97-1898 $288,000 742,500 8 6 J .. & . J. do do '93 to 1901 60,000 School bonds ... •·· ·· ···· ······-············· .. 1885 .... 4 J. & J. Lawrence.<>r..Boeton. Lawrence, Mass.-Sewer loan ......... __ ... _..... 1884 500&c. 300,000 Funded debt ............ . ................. _•.... 1862 to '75 5000&c. 6 Various Boston, Tremont Bank. 188~fto.i892 107,000 6 J. & J. do do July 1, 1894 262,000 do ·············-·· _-··················· 1874 1,000 Water loan... ........................ ... ........ 1873-'75 500 &c. 1,300,000 6 A.. & 0. do do Oct.1, '90, to 1906 Lewiston, .afe.-City bonds ($50,000 each year). .... . ••• 6 J. & D. City Treasury and Boston. 1888 50,000 6 .J. & J . do July 1, 1901 185,000 City bonds .... ........... ................... _... ·-·· .••• :-J0,000 6 do July 1, 1885 Bonds . .... ·-·· · ·· ··············· ··· ........... . .... . .•. 412 J ..&..D. do 1894 & 1899 Bonas........ ................ .... ... ...... ... ... .. 131,000 50O&c. 4 .J. & J. do July 1, '93-1913 New bonds...................................... 1893 200,000 Water bonds....... ..... .. ...................... .... . ••• 5 A. & 0. do Oct.1,'97-1907·'17 474,000 Louis-ville, Ky.-Water works .................... 1857 to '67 1,000 1,212,000 6 Various N. Y., Bank of America. 1887, '89, 97 For improvement of streets ..••..•••••••••.••. 1866 to '67 1,000 198,000 6 Various Louisville. 1886,' 9G, '97 For municipal improvement................... 1883 500 &c. 4 .J. & .J. New Yorlr City. 1923 1,500,000 Re-constructing street......................... 1873 1,000 7 .J. & J. N. Y., Bank of America. .July 1, 1903 600,000 Public buildings and institutions ..••..••.•••• 1871 to '73 1,000 7 Various do do 1891, '92 & 1903 650,000 Public school and school houses .... . ..••...... 1853 to '69 1,000 6 Varioue New York, U. S. Nat. Bank. 1885 to '89 102,000 6 .J. & J. Louisville, City Treasurer. July, 1898 81,000 Bewerbonds ............ ··············-········· 1868 1,000 do 1871 1,000 7 .J. & D. N. Y., Bank of Ame1ica. June, 1901 423,000 Elizabeth & P. Railroad ........................ 1868 & '73 1,000 7 Valious do do 1888 & rno3 1,863,000 Wharf property ................................ '54,'62,3, 8 1,000 6 Various Louisville and New York. 1885 to 1898 165,000 Jail bords.... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1869 1,000 6 A.. & O. do do Oct. 1, 1898 133,000 For old liabilities ............................... 1871 to '74 1,000 73,000 6 .J. & D. do do 1889 do do . . . .. .. .. . . . .. . . . .. . . .. . . .. . . . 1868 1,000 7 Varioue do do 1894 & 1901 513,000 Louisville, New Albany & St. L. Air Line RR . 1871 1,000 7 M. & S. N. Y., U.S. Nat. Bank. Sept., 1891 485,000 Road bed, Louisv., Cin. & Lex. RR ............ 1871 to '73 1,000 7 J. & J. N. Y., Continental Nat. Bk. July, 1901 & 1903 350,000 Citybonrls nayal.>le'by Louisv. & Nash. RR ... 1851 to '63 1,000 6 Various New York and Louisville. 1886 to '93 1,408,000 Old liabilities (half are 10-40 and half 20-40). 1880 1,000 1,000,000 5 M. & N. N. Y., Bank of America. Ma;v 1, 1920 Lowell, Mass.-City notes (various purposes) . . 1862 to '84 Large. City Treasury. 1885 tG 1894 469,300 1 to 6¼1 Various Bridge notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1882 Lar~e. 4 M. & N. Boston. 1891 and 1892 200,000 Bridge bonds . . • . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1882 1,0u0 4 M. & N. do 1892 120,000 Sewer bonds ........................ . ....... .. .. 1882 & '83 1,000 4 Various do 1884 to 1903 382,500 Water notes ..........•..•••.•••............... ·. 1871 to '81 Large. City Treasury. 1886 to 1911 575,000 6 to 6¼1 Various Water bonds.... .... .... .. ...................... 1870 1,000 1 ,300,000 6 M. & N. Boston. 1890 . Sewer notes. ..... . ......................... . .... 1883 & 84 .... 4 Various City Treasury. 10 p er ct. annually 176,500 Bridge notes..... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1883 4 Various do 10 p er ct. annually 77,000 Lynn, Mass.-Water notes....................... 1870-'3-'5 Large. 121,500 6 Various City Treasury. 1885 to 1890 Wa~er bonds .................................. -. Various 1,000 1891 to 1913 1,081,500 312 to 6 J. & J. Boston, Bank Republic. Funded debt.................................... Various 500 &c. do do 1884 to 1896 595.000 5, ~12, 6 Various City Hall and School Houses .. ................. Various 1,000 357,000 37s, -!, 6 Various City Treas'ry & Bk. Repub. 1886 to 1890 Engine House and sewerbonds................ 1884 1,000 55,000 334 & 4 Various do do 1885.io ·is94 Mancnester, N. H.-City bonds . . . . . . . ... . . . . . . . . . 1863-' 69 .... 6 Various . City Treasury. 165,000 Nater bonds ($100,000 each year)............ 1874 100 &c. July 1, 1890 & '9~ 200,000 6 J. & J. Suffolk Bank, Boston. do do do . . . .. . . .. . . . 1872 100 &c. 1887-'92-'97-1902 400,000 6 J. & J. City Treasury. Bridge bonds................ . . . . . .. . .. . . .. . . . . . 1881 100 &c. July 1, 1911 4 J. & J. do "llemphis, Tenn.-SchooI and paving bonds ...... 1867 to '68 ... . 1873 to1902 6 J. & J. Memphis. Post bonds ...................................... 1867, '8, '9 500 &c. 1873 to1900 Funding loan, gold............................. 1870 1,000 Nov., 1900 M.&N. 6 ~. Mississippi River Railroad bonds ............. . ... 6 Juiy: .i672 Endorsement Memphis & Little Rock RR..... 1857 J. ·&·J. Charleston, S. C. 1,000 7 Compromise bonds, coupon (.l!'lippen). . . . . . . . . 1877 1,000 J. & J. N. Y., Chemical Nat. Bk. 1907 6 New compromise bonds........................ 1883 1,000 2,400,000 1913 .... do do 3-4 Milwaukee, Wis.-Re-adjustment bonds......... 1861 500 &c. J. & D. Mil.&N.Y.,MortonB. & Co. June 1, 1891 191,500 5 General city bonds....... . . . . . . . . . . . . . . . . . .. . . . 1871 1,000 Jan. 1, 190,1 218,000 J. & J. do do 7 do do (not liable to be called in) 1876 1,000 June 1, 1896 J. & D. do do 98,000 7 1,000 July 1, 1902 160,000 J. & J. do do 4 Bridge bonds .............. ·-··········· · ··--··· 1882-'83 Water bonds, couyon........................... 1872 1,000 Jan. 1, 1902 365,000 J. & J. do do 7 do registered. . . . . . . . . . . . . . . . . . . . . . . . 1872 Jan. 1, 1902 10,000 1,063,000 J. & J. do do 7 do coupon........................... 1883 1903 14.3,000 J . & J. do do 4 Waterworks refund.in~......................... 1883-'84 1,000 1903·1904 293,000 J. & J. do do 4 MinneapoUs, Minn.-C1ty bonds ................ 1870 to '75 ... . 1886·1905 621 ,000 Various New York, Nat. Park Bank. 8 City bonds .................... ... ............... 1871 to '77 ..•. 1897-1902 360,000 Various do do 7 do ...................................... 1879 July 1, 1899 40,000 Various do do 6 do ...................................... 1870 & '81 18~5 & 1893 42,000 5 &10 Various do do do ($366,000 dl1e 1912 are red. 1902). 1881 to '85 1,000 1906 to 1915 1,367,000 do do 412 Various School bonds............ .........•............. . ... 31,000 Various New York.and Mobile. Jau:·i;·i906 .Mobile-Funding bonds.......................... 1881 500 2,215,000 3 to 5 J ..&.. J. Nashmlle. Tenn..-Varioua city bonds ........... 1870 to'81 100 &c. l,4L7,400 Various New York and Nashville. 1886 to'99 6 Municipal Bridge bonds ............ _........ ... l fi85 1,000 A. & O. N. Y., Chemical Nat. Bank. Oct. 1, 1905 450,000 5 1,000 Newark-War bds.,float'g debt, &c. (s.fd. of '64) .... 1,529,000 6&7 Various Newark, City Treasury. 1885 to '96 Public school bonds ............................ 1868 to '84 1,000 570,000 5&7 A.. & O. do do April, 1885, to' 92 Clinton Hill bonds, coup. & reg. (a. fd. 3 p. c.). 1875 1,000 J. & J. Newark, Nat. State Bank. July 1, 1895 400,000 7 Corporate bonds, coup. or reg.(act Apr. 21,'76) 1878·'80 1,000 1,200,000 5&6 Various do do 1909 & 1910 Sewer and improvement bonds (local liens). . 1871-'79 1,000 M. & S. do do 1886, '93 & 1909 2,450,000 7 Aaueduct Board bonds($2,490,000due in '92) .... 1,000 3,240,000 Various do do 189'2 to 1909 7 Tax arrearage bonds........................... 1876-'78 1,000 F. & A. do do 1886-'90 888,000 7 do do .....................•••... 1879 to '84 1,000 F. & A. do do 1891-'94 1,002,000 5 do do ...........• ..•...... ...... 1885 J. & J. do do July 1, 1895 115,000 5 Funded debt bonds............................. 18859 232,000 F. & A. do do • 1895 5 New Bedford, Mass.-Bridge and city bonds.... 1861-'74 A. & O. City Treasury. 1885 to 1890 30,000 6 Cityimprovement...................... .. ...... 1875 A. & O. do 1891 to 1910 10:000 223,000 6 Waterbondi:.................................... 1876 1,000 100,0 0 A. & o. do 1900 to 1904 5 do . _.................................... 1867 to '76 1,000 A.. & O. do 1885 to 1909 400,000 6 1,000 A. & O. do 1884 to 1909 180 000 7 do ················ -· -··················· 1872-'74 Tot. taxes overdueDec. 1,'841-ess deduct'ns ' due StateandCo.$4,006.879 Lynn, M.ass.-Valuation '83, $24,687,524: rate, $19·60; in 1884, Total assessments due and unpaid ......... ." .. -. . . . . . . . . .. . . . . . 2,842,145 $27,54 ,581; tax r ate, $ 18·40. Population, 28,233 in 1870; about The total debt of the city Dec. 1, 1884, was $17,570,250; sink:in~ 45,000 in 1883. funds, $1,220,339. Collections in 1884 were better than expected, Manchester, N. H.-There are also $16,000 5s due before 1885. and $344,000 of arrears came in. In 1885 collections a :·e much better T•>tal ,tebt Jan. 1, 1883, $927.500 ValUfttiOn in 18',3, $2 l,055,986; than 1884, and railroad assessments are coming in, upon whtch Jersey tax rate, $1,650 per $1,000. Valuation in 1884, $20,613,032; taxra.te, City will receive annually about $215,000. Population m J.880, 120,722, $17 50 per $1,000. Population, 32,630 in 1880; 23,536 in 1870. against 82,54.6 in L870. Taxable valuations and tax rate per $1,000 lllemphls, Tenn.-The city was in default for interest after Jan. 1, have been: Years. Real Estate. Personal Prop. Tax Rate. 1873. 'l'he L e~tslature passed a bill, January, 1879, repealing tn.e city's charter, and tne "Tax.in~ District of Shelby County" was organized. 1882 •.... -...•........ •..•. $56,125,552 $5,640,3vo $29 oo 1883. .. . . . . . . . . .. . . . . . . . . . . 58,287,892 4,664,390 29 40 The compromise bonds or 1877 were issued at 50 cents on the dollar. Under the act of Tenn. March 3, 1883, new compromise bonds are issued, 1884- ................ . ..... 61,571,512 4,564,683 ..... . bearing 3 per cent till January, 1886, then 4 per cent till 1889, and 6 Estimated tax rate in 1883-84. $32·80 per $1,000. V. 37, p. 667. per cent thereafter. The total debt when funded will b nearly Kansas City, lllo.-In 1883 assessed valuation was $t6,755,315 and tax: r ate 16 niills. In '84 valuation, $28,412,330; ta.x levy, 15 mills. $3,0(10,000. Valuation of real and personal property in 1883, $12.,_690,3 l.8; tax rate, $2 :ci5 on the $100. In 1884 valuation of real ana. perLawrence,lllass.-Total debt, $1,764,000. Sinking funds, $325J53 4. Tax valuation, 1882, $26,269,506; tax rate, $16 60. In .t883, sonal property, $13,499,32'5: tax rate, $2 35. Population in 1870, 40.226; in 1880, 38.592; in 1S94, 62,335. (V. 39, p. 727.1 val. $27,369,095; in '84, $27,369,095; Pop., in 1884. 45,000; 39,151 in ltlll waukee, Wls.-Tn.e city cannot issue debt beyond 5 per ct. of its '80; 28.921 in '70. average asseRsea valuation or real and personal property for five years. In Le"'1ston, lffe.-Total net debt, March 1, 1884, $894,196; sink. fund $115,l 60. The railroad bonds were issued to build the Lewiston & Auburn 1884 valuat10n was$74,\J51,750; in 1885 real estate, $61,44-3 ,921; perRR .. which is owned by the cities of those names. Valuation in 1883, sonal, $17,415,41;; total, $ 78,861,366, Sinking funds are provided, $10,679.926: tax rate, 212 p. ct.; in 1884, valuation, $11,107,166; rate . and all old issues eirnept the general bonds due 1896 may b e called in and p1:1.id by sinking fund; holders were misled beoause this was not 2110 • Population, 19,076 in 1880; 13,600 in 1870. Loulsville.-The funded debt, Jan. 1, 1885, exclusive of loans paya- stated in the bonds. Population, 71,440 in 1870; in 1!:!83 (estimated), ble t,y raUroads, was $9,167,000, against $9,305,000 Jan. 1, 1884.. The 130.000. llllnneapolls, lllinn. -:--Totaldebt~$2,461,000 f\..pril 1, 1895; sinking sinking funds on Jan, 1, 1885, am<?unted to $4,703,254. Population by Census of 1870 was 100,753, agamst 123,7f>8 m 1880. The following fund. ,t:116, t37; ta.x: Vi:1,liUtlOll, l~--i3, $:J ,{,901,812; m 1884, $7-1.303,711; bonds all coupon; tax rate 1985, 1712 mills. Population, 46,887 in 1880; figures give the assessed property valuation: 1881, $68,753,770; l8-i2, $70,029,724, of which $52,269,681 was realty. In 1883 valua.tinn 13.0f)6 in 1870; estimatel, 110,0J0 m 1883. l.Uobile.-1nternst was in de!ault from July, 1873. A settlement with $66, ll8,534, tax rate 2·10; in 1884, $63,927,077, tax rate 2· 10 ; in bou<lb.oluers was offered by act o.r March 9, 1875: In F ell., 1879, the 1885, $62,763.461, tax rate 2·48. (V. 3 8, p, 509.} Legislature repeateLl the charter of the city. In Oct., 1880, oonnholdera Lowell, lllass.-All the notes held by savinO's banks. Water loan sink,ug fund Oct. 1, 1884, $415,470: other sinkin~ ~ds, $227,649. Pop. offered to take new 25-year bonds, bearing 3 per cent for 5 years, 4 per cent for 15 years, a::.id 5 pe r cent for 5 vears. In No · . 1834, the un• 59,475 in 1880; 40,928 in 1870; 75,000 in 18~4. Assessed valuation in 1883 were: Real estate, about $35,057,275; _personal property, $14,• funded debt was ostim1ted at :½lllt>1000. Valuation o . real a.11.d per · soual propert. v i.n 1!:!83, $15,350,733; m 188 t, $13,578,347, in 1885, $13,t· 895,526: taxrate, $15 20; in 1984, valuation, $36,510,201 real <>~';;}.te 763,8.&2. ,. JPopula.tion 35,000.in 1885; 31,2~ 7 in11880 ;_.32, '34 in_.187\.f and $14,671,684 personal; tax rate, $17 50. · Ki~~/i.t~,.~~·~~~~~::::::::::::::::::::::::: https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis .... $:::: t }ir1 ':fJot • DECEMBER, CITY SECURITIES. 1885.] 11 Subscribers will conCer a great Cavor by giving inunediate notice ot any error discovered in these Tables. DESCRIPTION. For explanations see notes on fl.rat page of tables. Date of Bonds. Size or Amount par outstanding. Value. INTEREST. Rate. When payable PrinciHal-When ue. Whe:re payable and by Whom. New Bedford, Mass.-(Oontinued)Water bonds ................•.................•. Sewer bonds ................. . .•..• .. .......••.. 1884 $5,000 1881 1,000 1871 1,000 1867 1,000 1877 1,000 1851 to '69 1,000 1883 1,000 1883 1,000 1 883 1854-55 1:000 1869 1870 .... 1857 .... 1875 1869 ..... $100.000 50,000 499,000 N ~:~-;;;:~e($~o~53o· payable 40,000 City bon (10-20 bonds) ...................... 150,000 Neu, Ortf?ans-Consolidated debt .. .•.•••.•••.••. 2,043,000 Consolida ted debt, extended ..•..•......•..... 2,257,000 Other debt extended .......... ............. .... 688,000 Ten yea.r certificates to fund coupons ......... 2,004,285 Railroad debt ......•..••..•.•••...••••••.••••••. 243,000 Seven per cent funding loan of 1869 .•.•.•..•. 567,150 Seven per cent funding lo<i,n of 1870 ..• .... . •. 375,750 Jefferson City (debt assumed) ................. 86,500 Premium bonds (in exchange) ..... ..... ..... .. 7,689,680 Water Works .................................. . 12,000 Other old bonds . .. . ... . ....... .. ............... 225.000 Newton, Mass.-City bonds and notes ......•..••. l867.to'84 1.o·oo&c 338,350 Water loan ($600,000 6s) ....................... 1875 to'84 1,000 965,000 New York-Accumulated debt bonds, city ....... 1869-'70 100 3,924.,900 Accumulated debt bonds, county .......... .... 1869-'70 100 3,611,000 Armory bonds ........... .. ..................... 1884 1,172,000 500 Assessment bonds .............................. 1879to '84 500 2,868,000 Assessment fund stock ......................... 1868 to'83 500 3,277,050 Additional new Croton Aqueduct stock ........ 1872 to'77 500 1,331.300 Croton water stock ............................. 1847 to'52 100 32l,400 .Additional Croton water stock .. _ .............. 1871 to '85 500 5,309,000 Additional water stock, red'm'ble after 1913. 1883 to '84 500 445,000 Additional Water stock ........................ 1885 3,500,000 500 Croton water main stock ....................... 1871 to '81 5,196,000 500 Croton R eservoir bonds ......................•. 1866 100 20,000 Central Park fund stock ........................ 1857 to'59 100 3,066 071 do (lo ............. .... ....... 1856 to '58 674,300 100 Central Park improvement fund stock ........ 1857 to '60 100 2,083,200 do do .......... 1865 to'71 100 1,766,600 City Cemetery stock ............................ 1869 100 7 5,000 City improvement stock ........................ 1869 to'78 7,977.515 500 do do (cons.,$687.803red.aft.'96) 1876 to'80 500 701,419 O!ty impr. ~tock (cons. st'k), op., excll. for reg. 1874 820,000 500 City Lunatic Asylum stock ..... . .............. 1869 to'70 100 700,000 City parks improvement fund stoek ........... 1871 to'80 500 4,799,000 Consolidated stock, county, coup., ex. for reg. 1871 &'72 500 8,885,500 do city, do 1871 &'72 4,252,500 500 do dock bonds do 1871 1,000,000 500 do city pks. impr. fd. st'k, do .. 1872 862,000 500 do red. aft. 1908, cp. ex. for rg. 1878 500 6,900,000 do city, coupon ex:ch. for reg .. 1874-'75 500 1,564,000 do city, (A) ...........•..... .. .. 1:872 to'74 2,455,000 500 do coun~ (A & B) ............. 1874 1,680,200 500 do city I & C) ................ 1874 6,324,700 500 do (,ity (DE&F>. ............ 1876-'77 1,858,349 500 do city (G K L & M) .......... . 1877 to '84. 500 941,135 do city ................. .. ..... 1880 eOO 2,800,000 do consol. st'k (Riker's Isl'd) .. 180,000 188<l 500 Dock bonds . ......... ~ .......................... 1870 to'84 500 11,053,000 Consol. stock (Metropolitan Museum of Art .. 1884 500 25,000 .Fire Department stock .... ..... ................ 1869-'70 521,95;~ 100 Market stock .... . ............................... 1867 to '69 296,000 100 Museums of Art and Natural History stock. 1873 to '81 500 958,000 N. Y. City bds.for const.of bridge o,. Ha rlemR, 1879 to '84 499,500 500 N. Y. City bds for State sinking fund deficiency 1874 389,949 100 N. Y. Biidge bonds ............................ 1869 to '75 1,500,0UO 100 do do Consol. stock, redeem. after '96 ..... 1876 500,00C 500 do do $500,000 af. '96,$1,421,900 af 1900. 1876 to'80 500 1,92t.900 do do $750,000 af. 1903, $416,666 af. 1905. 1880 to '83 1,166,6fi 6 500 .Ninth District Courthouse bonds . ............. 1871 500 300,000 Normal school fund stock ..•...••.•••.......... 1871 & '72 500 200,000 N. Y. Co. Courthouse lst'k, Nos. 1, 3, 4 & 5 .... 1862 to '82 1,716,000 100 New York County repair;, to buildings stock.. 1870 500 60.000 N. Y. and Westchester Co. improvement bonds 1871 30,000 500 Public school building fund stock ..•...•....... 1871 to'74 636,000 500 332,0011 School House bonds . .•...•...........•......... 1884 500 25,000 Sewer repair stock ... ........................... 1874 &'75 ·-· 606,900 Street improvement bonds .................... 1869 &'70 100 1864 2,514,400 Soldiers' bounty fund bonds ..... . ..••.......•. 100 do do No. 3 ............. . 745,800 1865 100 Soldiers' bounty fund red. bonds, No. 2 .... . ... 376,600 1865 100 3,000,000 Tax relief bonds, No. 2, coup. exch. for reg .••. 1870 500 3~8,000 Third Distlict Court-house bonds ..........••.. 1874to'77 500 475,000 1872 500 Water stock of 1870 ........ . ... ................ 500 766,000 Debt of annexed territory of Westchester Co. 332,993 100 Norfolk, Va.-Rejistered stock .................. ·-·· 591,600 1870-'74 100 Coupon bonds ( 20,000 6s are J. & J .) . ........ 320,000 1881 Coupon bonds of 1881 (exempt) ............... 'ioo 290,800 1872-'73 Trust and paving, coup ........................ ~~:i::i yeariy> ---- ---- ---· Nashville, Tenn.-Assessed valuation or all property m 1881 wa:,i $12 179,450 real property and $3,07C,125 personal: tax rate, $20 per $1,000. Population, 43,350 in 1880; 25,865 in 1870. Newark.-The "bonds in the first line in the table are payable out nt the sinking fund of 1864, which nmounted Dec. 31, 1884, to $1,467,628; public school bonds out of pul)lfo school fund. $455 .570; Clinton Hill bonds hy sinld.nz funil $165,692. Thfl Aqueduct bonds are not a direct liability of the city of Newark. Real and personal property have been assessed at ab ,iut two-thlrds of true value as follows: 1884, real estate, $72,456,775; personal, $18.524,775: tax rate, $2 03; 1885, real estate, $74,189,110; personal, $18,730,160; tax rate, $1 93. Population in 1870, 105.059, against 136,508 in 1880, and 155,000 in 18::!5. New- Bedfo1.·d, J.l.lass.-Population, 26,~45 in 1 880; 21,320 in 1870. .As1:,essed valuations (true value), rate of tax, &c., have been: Personal Rate of Tax Total Deb r, Trust Years. Real Estate. Property. pei· $1,000. Bonds. Funds. 1883 ...... $15,109,300 $15,180,305 $16 80 $. --· ... $ . _... _ 1884 ...... 15,635,900 15,718,182 16 60 1,083,000 104,100 Ne-w Haven, Conn.-Municipal bond fund, $ 37,011. The city made a special loan of $75,uOO to the New Haven & D erby RR., and p-uar. $225,000 of its 2d mort. bonds. Popula. in 1870, 50,840; in 1880, 62,!:!82. Assessed valuation (about 80 p. ct. of true value), tax rate, &c., have been: Years. Real Estate. P ersonalty. R ate of Tax. Tot. D'bt. Skg.Fds &c 1883 .... $34,22-,, 112 $14,171,224 11 mills. $734,000 $132,192 1884 .... 36,293,114 14,271,224 11 mills. 714.000 ... ... New Orleans. - -In June, li,82, a law was passed to issue new 6 per cent 40 year bonds for all old bonds other than p remiums; the extended bondsrun till l!-l2 :,but are redeemable after 1 895. Uerticateswere issued for over ·.:e coupons to Jan.1.1883, and though made for ten years th" certificates are payable at option. The a ssessed valuation or property. real and per;;onal, for 1883 was about $113,091,102; tax rate $2; in 1884, $114,581,744; tax rate$~; in 1885, $123,927,493; tax rate $2·54. A scheme for settling the del)t by a bond premium drawing ph,n is in practice, and drawings take place January 31, April 15, July 31 and October 16. On June 20, 1885, the total bonded debt was $16, 140,562, and floating debt, $1,373,624: also judgments. $453,33 ,;; coupons not yet funded into certificates, $150.000; total Liabilities . $18,384,010; alsoGainesjudgment on appeal, $1,925,667. Uncollected back taxes, $2,910,219, Population in 1870, 191,418 ;· in 1880, 216,090, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4 4 7 6 5 City Treasury. do City Treasury. do do New Orleans. do do do A..'&·o. A.. & o. A. & O. J. & J. J. & J. 6 6 6 6 6 7 7 8 5 5 J. & J. J. & J. J. & J . Various M. & 8. J. &D. Various 1894 1887 to 1891 Oct. 1, '91&1901 Oct. 1, 'b2 to '86 July 2, 1887-'97 1892 1922 & 1923 1923 Jan., 1893 1884 to 1923 1894 & 1922 1895 & 1922 1887 to 1923 When drawn. 1899 to 1923 do do do do . --· . --· ---. ---· .. ... --------·-·· 0 5, 6,& 612 Various City Treasury. 4, 5, 6 Various Boston, Comm'nwealth Bk. 7 M.&N. ( 7 l\I. & N. 3 M.& N. 3, 312,4,5 M.&N. 4,5,6 & 7 M.&N. 5, 6 &7 M.&N. § 5&6 Q.-F . 312to 6, 7 M.&N. §4 3, 312 A. & 0. 0 0 312 A. &O. 4,5, 6&7 M.&N. ~ 0 • 6 Q.-F. tll>A <Do 6 Q.-F. ,Cl'O 5 &6 Q.-F. +:.A 6 Q.-F. §.S Q.-F. 6 +> i:I 7 M.&N. Ill.,... 5,6 &7 M.&N. cDIZI 5 &6 M.&N. ~~ 6g. M.&N. s:i;i:l ~ 0 6 &7 M.&N. Ill 5,6&7 M.&N. -~ 6g. J. & J. ~ 6g. J. & J. .E~ 6g. J. & J. ~ltl ::, r... 6g. J. & J. P:i~ 5 g. M.&N. Q) 6g. M.&N. 6 &7 M.&N. 7 J. &D. ~~ 7 J. &D. +:.O 00 <ll 5 &6 M.&N. aS~ 4 &5 M.&N. 0 cD 4 M.&N. 3 M.&N. 3 to 7 M.&N. ~~ 3 M.&N. ~ Al 6 M.&N. ~ .~ 6 &7 M.&N. !J~ 4,5 &6 l\f.& N. ~ 3,4&5 M.&N. S..-1 7 M.&N. 6 M &N.• I 8-g 6 M.&N. i>.= ;:!,-4 Q.-F. 6 Oo 4 &5 M.& N. +:,Ol 7 M.&N. (Dq.; M.&N. 6 .... 0 4,5,6&7 M.&N. .l\1. & N. 6 p.,'C cii:I 6 M.&N. Alo 6 M.&N. ~,Q 3 M.&N. .,a, M.&N. 6 <ll Q) ;\l.&N. 6 ~ M.&N. 6 +" M.&N. 7 A ~ M.&N. 7 M.& N. 7 5 &6 M.&N. 6 &7 M.&N. 7 Various l 6 J. & J. Norfolk, Treasurer's Office. 5&6 J. & J. do do 5 do A. &O. do A. &O. do 8 do I I i~ • 18si·to·i914 July 1, 190f> to '14 Nov. 1,1885, to '8 8 Nov.1, L885, to '8 8 Aug. 15, '94, 1904 Nov. 1,1886, to '9 0 1887, 1903 & 1910 Aug.1, 1900 Feb. 1,1890 1891, '99 & 1904 Oct. 1, 1933 Oct. 1, 1904 Nov. 1, 1900-1906 Aug.1, 1907 Nov.1,1887 July 1, 1898 Aug.1, 1887 June 1, 1895 Aug. 1, 1888 Nov. 1, 1889 &'9 2 1900 & 1926 Nov.1,1896 Aug.1, 1889 1901-1904 July 1. 1901 July 1, 1901 July 1, 1901 Jan. 1,1902 Nov.1,1928 Nov. 1,1896 Nov. 1, 1894 Dec. 1, 1896 Dec. 1, 1896 May 1, 1916, &'26 Nov. 1, '89, '97,'99 Aug., 1894 Nov. 1,1910 Nov. 1, 1901-191 Nov.1,1905 Nov. 1, 1899 May 1, 1894 & '9 7 May 1, 1903 Nov. 1, 1891 May 1, 1886 Nov.1, 1905 May 1, 1926 May 1, 1926 May 1, 1928 Nov.1, 1890 Nov. 1, 1891 Nov. 1, 1886-'98 Nov. 1, 1886-'88 Dec. 1, 1891 Nov.1,1891 Aug. 15, 1894 Nov.1 . 1886 Nov. 1, 1888 Nov. 1, 1885-'90 Nov. 1, 1893-'97 Nov.1.1891 Nov. l,1890 Nov. 1, 1890 Nov.1,1902 1885 to2147 1885 to 1900 1894-1900, 1912 April 1, 1911 Apr.. '92, July,'9 3 I I. I as .... oi I =.-I iw I I I Newton, Mass.-There are also $25.000 Park l1onds 4s, due 1908. Sinkrng funds, Jau. 1, '85, $168,871. Tax valuation, '81, $29,607,999; rate in '81, $l4 00 p er $1,000. Valuation in '82, $29,409,328; tax rate, $14 20, In 1883 valuation $27,124,088. In 1884 valuation $27,814,561. tax rate, $14 40. Population 16,99! in 1880; 12,825 in 1870. New York Oity.-The total debt of New York, January 1.1885, was $126.871,138; the amount of sinking funds, $34,823,735. The following statement shows the details of funded debt and the amount in the city sinkin~ fund at the dates named: D escription. Jan. 1, 1883. Jan. 1, 1884. J an. 1, 1885. · Total funded debt . ...... $130,-174,337 $130,680,571 $126, i371,138 Sinking fund............ 34,332,388 38,134,545 34,823,735 ----_ , . _ _ __ Net funded debt . .... $96,141,948 $92,546,026 $92,047,403 Revenue bonds.......... 4,246,534 2,983,883 2,358,825 ----- - - - - - -· ------ '.l'otal net debt .... ... $100,388,482 $95,529,909 $9-1,406,228 The population of New York, by the United States Census in 1870 was 91'2,292. anEl 1,206,299 in 1880. Since J an. 1, 1865, the valuation, rate of taxation, and net funded debt at end of year have been as follows: ,...Rate Tax p. Real Personal $1,000-, Net Debt. YE1ars. Estate. Estate. State. City. D ec. 31.* 1865 .. .... $427,360,88! $181,423,471 $4 96 $24 94 $35,973,597 1872. ... .. 797,148,665 306,949,422 5 20 23 81 95,467,154 1874t . . . . 881,547,995 272,481, l81 6 65 21 35 114,979,970 llo,773,721 1875.... . . 883,643,545 217,300,154 7 27 22 13 119,811,310 1876 ...... 892,428,165 218,626,178 651 2149 ll 7,700.74Z 1877. ... . . 895,063,933 206,028,160 3 78 22 72 113,418,403 1870.... . . 900,855,700 197,532,075 3 56 21 94 109,425,414. 187:L... . . 918,134,380 175,93<l,955 3 43 22 37 106,066,240 1880 ...... 942,571,690 201,194,037 3 12 22 18 102,618,301 1881.. .. .. 976,735,199 209,212,899 3 60 22 60 18S2 ...... 1,035,203,816 198,272,582 '--22 50--J 100,338,483 95,529,909 1883 ...... 1.079, 130.669 197,546,495 22 90 94,406,228 1884 ...... 1,119,761 597 218,536,746 22 50 1885 .••... 1,168,443,137 202,67a,866 24 00 * Less s' nlring funds. 1 Annexed towns included. 12 CITY SECURITIES. LVOL. XLI. Subscribers w1ll conf'er a great f'avor by giving Immediate notice of' any error discovered In these Tables. INTEREST. Principal-When Size or A.mount DESCRIPTION. Date of When Due. Bonds. V~~e. outstanding. Rate. Pay'ble For explanations see notes on first page of tables. ------------------1---Norfolk, Virginia.-(Oontinued-) $180,000 . ... $ . •. 500,000 1871 100 1,000 160,000 1877 300,000 Water loan ($50,000 1890, $250,000, 1898) ... '68, '7H, '80 1,000 1,000 164,000 Court House .................................... 1875 1,000 50,000 Sinking fund bonds......... .... ................ 1878 125,000 Funding l0·30s............................. .. . . 1883 58,000 Paterson, N. J.-School bonds.................... 1859-'73 500 80,000 Funded d ebt bonds............................. 1862-'71 500 403,500 Sewerb'ds ($145,000areM. &S. &$90,5005s). 1869-'82 500 306,500 War bounty bonds .. .......... . . . . . . . . . . . . . . . . . . 1864-'65 500 100 &c. 100,000 Funding bonds, "A"........ . ... . ............... 1877 168,000 500 Renewal bonds,· 'B" and "C" . . . . . . . . . . . . . . . . . 1877-'84 2,232,966 50&c. PhiladeqJhia-Consolidated city loan .. ......... . ... 50 &c. 1,725,000 Bonds for railroad stock subsidy 1mbRcript'm 1855 6,500,000 do for water works ................... .... . 1855 to '71 50 &c. 4,853,500 do for bridges .............................. 1859 to '70 50 &c. 50 &c. 8,701,600 do for park anct. Centennial. ............... 1868 to '70 do for war and bounty purposes .......... 1862 to 65 50&c. 11,650,000 do municipal, school, sewer, &c ........... 1860 to '70 50&c. 15,909,700 50&c. 3,752,500 .... Guaranteed debt, gas loans.................... 25 &c. 7,298,725 1879 Four per cent loan ("A" to "Y") ............ . 1 81,500 ~~~: _- _- _-: _- _- _-.:::::::::::::::: :::: 42,000 367,000 Water loan...................................... . .. . 83,000 do ..................................... . .. . 100,000 Peoria & Rock Island Railroad................ . .. . 4,282,500 Pittsburg-Water exten. loan <coup. or reg.) .... 1868 to '74 100 &c. 300,000 Water loan, reg.................... . ... . . ...... 1878 25 &c. 1,281,000 Funded debt and other municipal bonds .... .. 1845 to '72 500 &c. 2,176,300 Compromise railroad bonds (coup. and reg.).. 1863 100 &c. Bonds impr. Penn. av., &c. (local assessment). 1871 to '73 777,600 Funded debt improvement bonds, op. & reg . 1882·'83 100 ·&c 1,480,000 3,106,000 Improv. bonds coup.or reg.(Act of May 9,'79). · 1885 100 &c. Portland,, Me.-Loan to Atl. & St. Lawrence RR. '68,'69,'70 1,000 787,000 Loan to Portland & Rochester Railroad ...... 1867 to '69 500 &c. 627,500 do do do .... .. 1872 ·500 &c. 416,000 1,200,000 do Portland & Ogdensburg.... . . . . . . . . . . 1872 1,000 Municipal-proper . . . . . . . . . . • . . . . . . . . . . . . . . . . . . 1859-79 500 &c. 1,917,500 Building loan bonds............................ 1867 1,000 325,000 300,000 Providence, R.1.- Recruiting and bounty bonds 1863 lOOO&c. 2,028,000 Water loan bonds, gold, co~pon ... _..... .. . . . .. 1872 lOOO&c. 1,972,000 do do registered............ 1874 lOOO&c. 1,500,000 do do do ...... ..... . 1876 lOOO&c. 1,397.250 City Hall & sewer loan b'ds, sterling, op. or reg 1875 £100 do loan of 1879.... . . . . . . . . . . . . 1879 lOOO&c. 600,000 Public improvement loan, registered . . . . . . . . . . 1879 Large. 596,000 Prov. & Sprmgtl.eld RR. bonds, guaranteed. .. 1872 1,000 500,000 Brook Street District certificates, coupon . .. . 1879 1,000 140,000 New High School Building certificates ........ 1877 & '79 Various 58,938 Richmond, Va.-Bonds, reg.,($118,000 are coup.) 2,846,091 Bonds, reg. and coup. ($213,500 are coup.) .. . 1,214,700 New :fives ...................................... . 790,900 Rochester, N. Y.-To Genesee Valley Railroad . . 1872 1 ,000 140,000 To Roch. & State L. and R. N. & P. Railroads. 1872 to '74 lOOO&c. 750,000 For various city improvements ................ 1872 to '75 Various 667,000 Water works loan, coupon and registered .. ... 1873 to '76 lOOO&c. 3,182,000 Fundini.; loan................................... 1875 1,000 410,000 Consol loan..................................... 1882 5,000 100,000 Rockland, Me.-Municipal bonds................ .... 50 &c. 469,300 1869 100 &c. 7~,200 Railroac1 loan ($20,000 payable yearly). . . . . . do ................................... 1871 100 &c. 60,600 do . . . .. . . ... . .. . . .. . . ... . . .. . . .. . . . .. 1872 100 &c. 69,300 do ................................... .... . .. . 93,000 118,000 Notes and certificates of deposits............. .... . .. . 2,452,000 St. Louis-Renewal and floating debt bonds .... 1868 to '71 Various Real estate, buildings and general purposes .. 1840 to '68 Various 673,000 Street improvement bonds.... . . . . . . . . . . . . . . . . 1857 Various 10,000 Tower Grove Park bonds (gold)................ 1868 1,000 346,000 1,108,000 Sewer bonds.................................... Various 1,000 641,000 Harbor and wharf bonds ...................... 1856 to '68 Various New water work bonds (gold) .................. 1867 to '70 1,000 3,950,000 1,250,000 do do do . . . . . . . . . . . . . . . . . . 1872 1,000 800.000 do do do ............... ... . .. . 1·,000 1,372,000 Renewal and floating debt bonds (gold)....... 1874 1,000 1,324,000 Renewal purposes, gold or sterling............. 1873 7:l2,000 1,000 Renewal, &c., bonds, gold, $and£............ 18:15-75 1,368,000 Renewal, &c., bonds, gold $ and £, coupon .. . 1876 to '79 1,000 1,024,000 1,000 Renewal bds.,gold,$ and £(partred'mable '90) 1880 913,000 Renewal bonds, gold ........................... 1882 to '85 ... . 500 461,000 Bridge approach bonds (~ld)................. 1872 620,000 1,000 Gold bonils to pay Pac. R~. bonds, $ or £.... 1885 965,000 1,000 Bonds, gold, £or$ ... ..... , . . . . ... . ..... .. . .. . 188:5 Bt. Lows County bonds assumed1 ,000 1867 100,000 Insane Asylum .............................. . Coupon bonds............. .. . ........... .. ... . . Coupon bds., water (a mort. on water works).. Norwicn, Conn.-City bonds..... . . . . . . . . . . . . . . .. pw::1t::~~~~~~~. The Legislature passed a law in 1885 that the indebtedness should not exceed 10 per cent of the assessed value of real estate, and this 10 per cent was constru ed by tle Court of Common Pleas to include the bonds in the sinking fund as a part of the debt. See v. 41, p, 688. (V. 39, p. 49,727; v. 41, p. 51, 69,242, 688.j Norf'olk, Va.-The assessed valuations and tax rate per $1.000 are: Years. Real Estate. Personalty. Tax Rate. 1882 ........................... $9,590,431 $1,363,403 $W 1883 ·················-···· · ···· 9,776,197 1,722,492 20 1884 ........................... 10,086,898 1,494,483 20 1885 ........................... 11,988,560 1,632,995 18 -Population by U.S. Census in 1870, 19,229 ; in 1880, 21,966. Nor-wlch, Conn.-The ~::ised valuatio~e::~~rte, &c., ariate of Years. Estate. Property. Tax. 1880 .... ·-················ $7,438,097 $2,976,028 8 mills. 1881...................... 7,382,834 2,872,566 10 " 1882. .......... ........... ... 7,362,364 2,762,931 10 " 1883....... ............ .. . ........ 7,392,767 2 ,658,058 9 " -Sinking fund, May, 1883, $33,778; population, 21,145 in 1880; 16. 653 in 1870. Paterson, N. J .-Finances are apparently in a sound condition The assessed valuations, tax rate per $1,000, &c., have been: Years. Real Estate. Personalty. Tax Rate. Debt. 1882 .. .......... $l7,74:6,040 $3,768,240 2·30 $1,251,500 1883............. 18,506.048 3,856,635 2·28 1,217,500 1884... .. . . .. . . . . 18,521,342 3,876,075 2·50 1,168,500 1885 ........ .... 19,205,501 3,816,500 2·50 1,168,500 -Population, 51,031 in 1880; 33,579 in 1870. Phlladelphla.-On D ec. :n, 1884, the debt was $64,131,362. ln tht' following table the assessed value of real estate is near its cash value : Years. Real Estate. P ersonalty. Tax Rate . 1882 ......................... 545,608,579 $ $8,795,700 $19 00 1883. ............. ........... 554,624,115 9,884,578 18 50 1884. ... .. ........ ........... 573,728,105 9,884,578 18 50 1885.. .. . . .. . .. . . .. . . . . . .. . . . 587,749,828 10,035,600 18 50 1886. ....... ..... . ....... .... 601,001,971 10 307,644 .....• https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 5 5&8 5 5, 6 & 7 7 5 * M."&.N. A.. & 0 Various J. & J. A. & 0 . J .. & D. City Ha11; by.Ti·eaaurer. J. & D. uo do Various do do J. & D. do do .J. & D. do do Various do do J. & J. Philadelphia, by Treasurer. J. & J. do do J. & J. do do J. & J. do do J. & J. do do J. & J. do do J. & J. do do J. & J . do do .... do do Varioua N. Y., Mercantile Nat. Bk. M. & N. do do Various do do Varioue do do J. & J. New York. A. & O. Phila., Townsend, W. & Co. J. & J. do do Various Pittsburg and New York. J. & J. New York, B'k of America. Various Philadelphia. .... Pittsb'rg and Philadelphia. J. & D. Pittsbur~. Treasurer. M. & N. Boston, Blackstone N. B'k. J. & J. do do J. & J. do do M. & S. do do m'nthly Boston and Portland. J. & D. do J . & J. Providence. J. & J. Boston, Prov. and London. J. & J. N. Y., N. City Bank, &Prov. J. & J. do do J. & J . London, Morton, Rose & Co J. & D. Providence. J. & J. do J. & J. do M. & N. Boston and Providence. Various do do J. & J. Richmond, Treasurer. J. & J. do do J. & J. do do J. & J. N . Y .. Union Trust Co. F. & A. New York and Rochester. Various do do J. & J. N. Y., Union Trust Co. J. & J. do do F. & A. do do Semi•an City Treasury. J. & J. Boston. F & A. Boston, 1st Nat. Bank. M. & S. City Treasury. . . •• .... C'ity Treasury. Various N. Y., Nat. Bank Hepublic Various do do Various do do F. & A. do do 1899 to 1905 1885 to 1904: 1886 to 1898 Mar. 1, 1902&'03 1888-1901 1889-1901 July 1, 1888 1893 to '98 1908 1886 to 1912 1913 1886 1912·1913 Dec. 1 1915 Nov.,1886,'87,'88 July, 1887 July 1, 1897 Sept. 1, 1907 1885 to '97 June 1, 1887 Jan., 1893 July, 1900 July, 1900 July 1, 1906 July 1, 1895 June 1, 1899 Julyl,'99&1900 1892 May 1. 1885·'86 1885-'89 J. & J., 1884·1914 1886&19.04-1909 July 1914-'15 1886 to 1903 Feb. 1, 1893 1886 to 1902 Jan. 1, 1903 Jan. 1, 1905 Aug. 1, 1912 1885 to 1911 1885 t@ 1899 1891 1902 Option of City. On call. 1886 to '91 1886 to 1906 1887 Aug., 1898 J. & D. New York and St. Louis. A. & 0. N. Y. , Nat. B'k Commerce. l\L & N. do do Variouy New York or London. M. & N. do do M. & N. do do J. & J. do do Various do do .... do do g. .J. & D. N. Y., Nat. B'k Commerce. g. F. & A. New York and London. J. & D. do do June, 1887, & 90 April 1, 1892 July 1, 1894 1894 Nov. 1, 1893 1895 1896-1898-1899 Jan.&June, 1900 1895 to 1903 Dec. 10. 1892 1905, red. 1895 June 1, 1905 7 5, 6, 7 7 6 412 & 6 6 6 6 6 6 6 6 6 4 7 412 7 5 & 6g. 7 7 6 6 &7 4 &5 7 5 4 6 6 6 6 6 6 5 5 & 6 g. 5 & 6 g. 5 g. 5 g. 412 5 7 412 412 6 8 5 7 7 7 7 7 4 4 & 5 6 6 6 .... ,·65 to 5 6 6 6 6 g. gg. ;:~1g~: 6 6 6 6 6 6 6 5 6 6 4 4 7 1913-1914 NewYork,ParkN.Bank. 1901&1914 Norwich. April 1. 1907 do 1898,1908 & 1910 do Jan. 1, 1905 do April 1, 1908 g. g. g. g. g. g. g. g. ag ag J. & J. N. Y., Nat. Bk. Commerce. l8~8:f904 18 6 to 1900 1886-1902 1886 to 1900 June, 1887 1901-1906 1886 to 1906 } } 1885 to 190::f 1885 to 1905 rn~i ~g :~~ July 1, 1887 As~essed valuations of property for 1886 are: Full city property, $5::>4,289,660; suburban property, $38,006,137; farm property, $18, 706,174; personal property, $10,307,641. Tax rate, $18 50. Popula tion, 1870, 674,022, against 847,170 in 1880. Peoria, Ill.-Total debt, $673,500 in 1884. Population, 29,259 in 1880; 22,849 in 1870; in 1883 (estimate d) , 40,000. Pittsburg.-The Penn. Avenue and other street bonds maturing in 1885 and '86 arefundedintotbe 5 per cent improvement bonds of 1912·13 The assessed valuation in 1881 was : Real property, $105,404,720 ; personal, only $1,838,258; tax rate, 1884, 16 mills per $1. Valuation of r eal estate in 1885 $108,530,608; personal, $3,000,000; tax rate, 13 mills. POJlulation, 156,389 in 1880; 86,076 in 1870, and in l\iay, 1884 (estimated), 180,000. Portland, Me.-The sinking fund and available assets March 31, 1885, were $106,409. The city is protected by mortgages on Atlant10 & St. L awrence Railroad. Population in 1879, 35,010, against 31,413 in 1870, and 26,341 in 1860. Population in 1880, 33,810; 1870, 31,413; 1885 (est.), $36,000. The assessed valuations, tax rate, &c., have been: Real Personal Rate of Tax Total Sinking Years. Estate. Property. per $1,000. Debt. Funds, &o.* 1882-83 .. $20,288,300 $12,354,455 $21 50 $4:,545,500 $51,800 1883-84 .. 20,431,300 12,598,720 20 00 4,371,000 133,846 1884:-85 .. 20,794,300 12,014,4:35 ~o 50 4,286,ooo 106,408 * These do not include the sinking funds for railroad loans. Providence, K. I.-The principal debt o;f Providence has been created since '72 for water works, sewerage, the City Hall and Brook Street Improvement. The sinking fundfor bondf:l due m 1893 is $312,922 1895·99, $631,243; 1899·1900, $117,7l6; 1900-6, $371,434; Brook Street district, $5,012. Population, 1 870, 68,904; 1885, 118,070. The laws of Rhode Island now limit the debts of towns to 3 per ct. of their assessed valuation. Assessed valuations, &c., have been: Assets in Sink . Real Personal Tax per Total Funds, &c Years. Estate. Property. $1,000. D ebt. 1880 .... $88,012,100 $27,908,900 $13 50 $10,202,688 $1,359,142 1,397,558 1881. ... 87,788,000 28,413,800 14 00 10,100,599 1 597,280 1.882. ... 88 987 900 30 208 300 14 50 10 077 099 DECEMBER, CITY SECURITIES. 1885.] 13 Subscribers will conCer a great favor by giving IJnmedlate notice oC any error discovered In these Tables. Date of Size or Amount , _ _ _ _ _ _ _INTEREST. _ _ _ _ _ _ _ _ _ _ _ , Principal-When Bonds. ✓ aar outstanding. When Where Payable, and by Due. li.'or explanations see notes on first page of tables. ______ _ _ a_lu_e_._ , ______ ,_R_a_te_.__ P_a_y_'b_l_e_, _ _ _ _ _Wh_o_m_._ _ _ _ , - - - - - - - DESORIPTION. I St. Louis, lfo.-(Oontinued)St. Louis County bonds-(Oontinued) . ...... .. County Jail .... ·-···-·· ·············-········General purposes, gold __ ···············-····· Park bonds, coupon, gold ...... _............. County bonds·-·············-···-·········· · ·· St. Jos1ll:, Mo.-Funding bonds................. 1 1868 1872 1875 1875 1883 1871 1881-84 Bonds .........................•................. 1867 to '85 do • . . . . . • . . . . . . . • . . . . . . • . . . . . . . . . . . . . . . . . . . . . 1868-'78-'9 do .••..•...•••..•............................ 1862 to '81 do ... -·······-···-···········--········-···· 1860to'79 Waterworks coups. (acts Feb./81 & Jan., '83). 1882-4-5 Salem, Mass.-City debt ............. ·-········· Various. Citydebt ····-················· ··· ·············· 1871 Water loan.................... . . . . . . . . . . . . . . . . . 1868-9 do ····················· · ·· · ·· ·- ···-····· 1878 San .Francisco-- Bonds of 1858, coupon ("Old)_. 1858 Central Pac~c Raµroad, coupon (gol;fi _... __ 1864 Western Pacific Railroad, do do ...... 1865 Judgment bonds, do do . . . . . . 1867 School bonds.................................... 1870 School bonds_................................... 1874 Park improvement bonds..................... 1872 to '75 Hospital bonds .... _... _.........•...•......... 1871 to '73 House of Correction bonds ............ - . . . . . . . 1874 City Hall construction.......................... 1875 to '76 Montgomery Ave (special tax) .... ····-······· 1873-74 Dupont St. (special) (Act March 4, 1876)..... 1876 Savannah, Ga.-New comvromise bonds........ 1879 Some,"Ville, Mass.-City debt..................... . .. . Waterloan . ................... -············· ··· .... Springfield, Mass.-City notes................... .. .. City bonds·-········-··························· .... Water loan ($200,000 are 6 per cents)........ .. .. $1,00 1.000 1,000 1,000 ... t~d~e i::J1sd&i°ci; $3·2;3s2· impaid COl~ps,)::: . 500 1,000 1,000 500&c. Various Vario s 1,000&<1 100 &c. 1,000 100 &c. 1,000 500 &c. 500 &c. 500 &c. 500 &c. 500 &c. 500 &c. 500 &c. 500 &c. 500 &c 500 &c. ... . ... . 100 &c. Vario s. Large. Large. 1,00 1,000 1 0 "iunii Various. :~~ Toledo & Woodville Railroad. coupon.... ..... 1870 ... . Waterworks ($3,000 only 6s) ........ . ........ '73,'74&79 ... . Short bonds, chargeable on special assessm'ts. Various. . .•. Bonds, payable after 1893... .. ... . . .... ..... .. 1883 ... . 1885 ... . -.i Bonds, fifteen-years............................ Worcester,M.-City, ($521,500 c., $1,521,900 r.J 1861 to '83 500 &c. Sewer debt (all re~istered) .. ...... . ........... [1870 to '84 500 &c. Water debt ($79,0uO coup., $530,300 reg.) .... 1870 to '84 500 &c. St. Paui, Minn.-Bonds .....•.. .••. _. ............ Tle8:i~ i~.2~~erai city i>oniis,· coup:::::: I $500,000 600,000 1,900,000 500,000 880,900 90~,000 251,382 54,000 701,600 468,000 613,416 263,125 1,500,000 171,500 300,000 375,000 398,500 136,500 191,000 116,000 246,000 285,000 200,000 475,000 210,000 150,000 445,500 1,579,000 919,000 3,397,500 1,250,000 335 ,000 80,000 123,000 1,200,000 180,000 1,445,000 432,000 1,000,000 250,500 1,445,000 100,000 2,043,400 460,000 609,300 7 M. & S. 6 g. J. & D. 6 g. A. & O. 6 g. M. & N. 4 .... 6 F. & A. 10 J. & J. 4 Various 5 Various 6 Various 7 Various 8 Various 5 A. & O. 4, 5 & 6 Various 6 J. & J. 6 A. & O. 5 J. & J. 6 g. J. & J. 7 g. J. & J. 7 g. M. & N. 7 g. A. & 0. 7 g. J. & D. 6 g. J & J. 6 g. J. & J. 6 g. M. & N. 7 g. ,J. & J. 6 g. .... N. Y., Na.ti. B'k Commerce. Sept. 1, 1888 do do June, 1892 do do April 1, 1905 J do do May 1, 1895 N. Y., Amer. Exch.Nat.Bk. Aug. 1, 1901 N. Y., Nat. Bk. Commerce. 1903 do do 1891 N. Y. Am. Exch'ge Nat. Bk. 1906 to 1912 do do 1887 to 1915 do do 1888 to 1904 do do 1887 to 1906 do do 1893 to 1904 do do 1909 & 1914 City Treasury. 1885 to 1892 Boston, Merchants' Bank. Jan. 1, 1891 do do Apl. 1, 1885-1898 do do July 1, 1904 SanF.&N.Y,,Laidlaw&Co. Jan. 1, 1888 do do July 1, 1894 do do May 1, 1895 do do Oct. 1, 1887 do do June 1, 1890 dli do July 1, 189'4 do do 1897 & 1904 do do Nov. 1, 1891 do do July 1, 1894 do do 1899 I -·7 ·g. J ... & .J. 5 Q-F. 4, 5, 512,6 Various 4, 512, G Various 4½ Various 6 Various 6 & 7 A. & o. 7 A. & O. 412 to 8 Various 7·3 1\1. & N. 6 & 8 Various 7 & 8 Various 5 A. & O. San.F.& N: Y:,Laidlaw& Co. • . i89(i N. Y., Eugene Kelly & Co. Feb. 1, 1909 Boston, Nat. Security Bank 1882 to 1896 do do 1880 to 1906 City Treasury. 1885 to 1889 Boston~ First National B'k. 1885-1890 (10 do Apl. 1, '94, to 1905 do do 1885 to 1893 N. Y., Imp. & Trad. N. Bk. 1885 to 1913 do do May, 1900 do do 1893 to 2000 do do 1885 to 1888 do do Oct., 1913 4½ 1900 4, 5 & 6 Vario.us C.Treas.&Bost: Mehta.' Bk. 1887 to 1905 4,412, 5 Various do do 1899 to 1905 4, 5, & 6 Various do do 1885 to 1914 Real Personal Tax per Total AssetsinSink. , Personal Rate of Tax Total Yea.rs. Estate. Property. $1,000. Debt. F1mds, &c. Years. Real Estate. Property. per $1,000. Debt. 1883 .... $90,1.43,400 $31,722,000 $14 50 $9,941,188 $1,681,400 1884 . ... ,~- - .....•.. $47,000,000 $14,263,565 $16 $3,027,140 1884 .... 91,642,100 30,8 54,400 14 50 9,890,688 1,843,785 1885 ··· · ············ ····-··· 14,291,828 ..... . 1885.... 92,887,400 31,314,600 H, 50 9,568,188 1,438,328 -Valuation of real estate is about one-third of true value. (V. 38, p. 5.a.0·} Richmond, Va.-Real estate assessed, 1882, $28,946,828; personal, Salem, Mass.-The sinking funds Nov. 30, '84. w~re $286,669, mostly $12,689,534. Tax rate, $1 40. 1883, real, $29,240,022; personal, consistmg of City of Salem bonds. Population, 27,563 in 1880; 24,117 $12,628,267. In 1884. real estate valuation, $29,388,622; personal, in 1870. Tax valuation, 1882, $25,528,242; tax rate, $15 50 In 1883 $12,952,542; tax rate, $1 40. Population, 63,600 in 1880; 51,038 in '70. valuation, $25,614,115; tax rate, $16. In 1884 valuation, $25,360,772; Rochester.-Total f1mded debt, $5,249,000 March, 1885. The bonds rate of tax, $17 50. In 1685 valuation $25,047,145. of Genesee Valley RR. loan, $148,000, are provided for by net receipts San Franclsco.-Population, 233,959 in 1880; 149,473, in 1870. The from a lease of said road to Erie Railway. Population, 89,366 in 1880; Montgomery Avenue and Dupont Street bonds are special issues charge62,386 in 1870; in 1882, estimated, 105,000. Assessed valuation (60 able only on the assessment of property benefl.tted, and suits were in per ct. of true value), rate of tax, &c., have been: progress October, l e 84, to determine their legal status. The assessments Real Per onal Tax per$1,000 Total for four years and tax rate (per $100) are given below. .rhe large inYears. Estate. Property. in old Wards. D ebt. crease in personalty in 1880-8 1 was made by the arbitrary assessment 1880 .... $34.408,725 $1,430,144 $23·86 $5,440,686 of persons making no sworn statements of their property. The following 1881.. .. 34,596,225 l,291,B20 24·67 5,415,186 valuations are made by the city and county. the valuations by the State 1882. ... 34,849,975 1,202,395 28·61 5,382,950 being different, but the tax rate below includes that for State purposes: 1883. .. . 36,166,200 1,817,200 27·65 5,354,000 Total 1884 .... 37,270,850 1,778,100 32·221 5,284,000 Realty. Personalty. Tax Rate. 1885. ... 38,563,020 2,389,050 30·98 5,il 99,000 1881-82 . ······· ·· ·· ··· $155,834,879 $66,598,521 $1 8019 Kock.land, Me.-Valuat'n of real and personal estate, 1883, $3,651,· 1882-83 . . .. .. . . . . . . . . . 151,894,908 50,267,099 1 8014 500. Tax rate, $26 per $1,000; 1884 valuations, $3,755,831; $24 per 1883-84 ............... 158,723,269 62,272,5::J4 1 6934 ~1,000. Population, 7,599 in 1881; 7,074 in 1870. 1884-85.. .. .. ... .••. .. 164,495,888 59,013,672 1 5712 St. Joseph, Mo.-Population in 1880, 32.431; in 1870, 19,565. A 188,3-86 . . . . . . . . . . . . . . . 171,416,426 56,192,922 1 59~ compromise of the debt was made in new 4 per cent bonds, which are Sinking funds raised annually amount to over $238,000, the amount given for the full principal and interest of old bonds. Aug. 31, 1885, on hand June 30, 1884, being $721,973. (V. 36, p. 445.) there.were in addition to bonds given above $40,074 small issues and Savannah Ga.-Defaultwasmade oninterestNov.1, 1876, inconseunpa1d coupons. quence of yellow fever and non-collection of taxes. The compromise The assessed valuations and tax rate for three years were as b elow. gave new 5 per cent bonds for the face of old bonds; and for interest up In 1885 valuations were the same as in 1884, no new valuations being to Feb. 1, 1879, 58 per cent of the face value in simila,r bonds; also, made. tbere are $386,500 of fives issued in exchange for Atlantic & Gull Real estate. Personal. Tax rate. RR. bonds. Assessed value of real estate and tax rate each year. 1883 ................. .. ....... $7,586,650 $3,678,193 · 2s 10 have been as follows: In 1881, $10,500,000, $25; 1882, $10,650,000, 1884 ............ ··••·········· 7,873,150 3,700,222 ·02210 $30; 1883, $10,900,000, $30; in 1884, $12,500,000, $30; in 1885, 1885.... •••. ..•. .... ..... ... .. 7,87l!.150 . 3,700,222 • 155 100 $13,000,000, $21 25. Population in 1870, 28,235, against 30,709' St. Louls.-Population by the United States census in 1870 was in 1880. 310i864, against 350,518 in 1880. The city and county were mer~_ed Somerville, Mass.-Total debt, Jan. 1, 1884, $1,585,000; sinking br aw in 1877 and cit;v assumed the county bonds. The Comptrouer fund, $505,852. Property valuation in 1882, $23,162,200; in 18831 gives the following in his report to April, 1882: The liabilities app ear as $23,812,900; in 1884, $24,331,100. Tax rate, $16 60. Exc-epli follows: The bonded debt at the close of fl.seal year (April 10, 1882) is $140,000 5s in $1,000 pieces and $399,000 4s, all bonds are in $2,000 $22,417,000. A claim of the St. Louis Gaslight Company for gas fur- to $50,000 pieces. Population 24,933 in 1880; 14,685 in 1870. nlshetl.. amounting 1n all to about $882,000, with interest to March 31, Springfield, Mass.-Total funded debt, Jan., 1884, $1,651,900; 1852, was decided against the city in 1880, but appealed. Assessed valu- cash assets, $129,138. The railroad debt falls due $20,000 each year. ation of property and tax rate have been: Population 1n 1882, 35,000; 1870, 26,70i$. Tax valuation and rates Real Estate ,-Rate of tax per $1,000 ......_ have been: and Personal New Old Bonded P ersonal Tax rate Years. Property. Limits. Limits. Debt. per $1,000. Years. Real Estate. property. 1879 ............... $165,263,970 $5 00 $17 50 $22,614,000 1881 . ..... ........ 12 50 $23,795,920 $8,935,850 1880 ............... 160,750,440 5 00 17 50 22,507,000 1882 . . . . . . . . • • •• . . 12 50 25,084,420 9,198,258 1881 . . . .. . . . . . . . . . . 167,336,600 5 00 17 50 22,417,000 1883 . . • . . . . . . . . . . . 12 50 25,G76,800 9,260,459 1882 ........ . ...... 191,720,500 5 00 17 50 22,311,000 1884 ... .. ......... 14 00 26,201,150 8,792,666 1883 . . • . . • • . . . . . . . . 191,522,490 5 00 17 50 -Valuation of real estate is about 67 per cent of true value. 1884 ............... 211,480,710 5 00 17 50 Toledo.-Total debt, Jan., 1885, was $3,127,500. Of this the debt 1885 ·······-······· 207,717,920 5 00 17 50 -(V. 40, p. 764.) payable by special assessments was $250,500 Taxable valuation of St. Paul, Mlnn~-Population in :1,879 was 22,300; in 1880, 41,498; real estate, 1883, $20,644,600; personal, $3,159,380; total valuation, in 1884 the local estrmate of population 1s 100,000. Assessed valuations $28,803,980; tax rate, $2·44 per $100. Valuation, 1884, real estate, $21,375,280; pei-sonal, $8,646,190; total valuation, $30,021,470; tax of taxable property and tax rate have been: rate, $2 22. Population, 50,137 in 1880; 31,584 in 1870. Personal Rate of Tax T otal Years. Real Estate. Worcester, Mass.-Total funded debt, Jan. 1, 1885, $3,112,700; Property. Jler $1,000. D ebt. 1878 .........•...... $17,300,486 $5,491,026 $13 " $1,356,444 Casb assets, $684,555, including $590,371 in sinking fund. Population, 1879 ........... .. ... 17,300,766 58,291 in 1880, 41,105 in 1870. Tax valuation, 1880, $41,005,112; in 5,942,503 15 " 1,519,310 1882 . . . . . . . . . . . . . . . . 30,000,000 10,000,000 21 1,959,910 1881, $42,606,529. In 1882, $45,504,512: tax rate, 1·74. In 1883 • 1883 . . . . . . . . . . . . . . . . 31,000,000 12,000,000 24·50" 2,328,040 $48,570,335; tax rate, l ·72. In 1884, $50,773,4.75; tax rate, l ·66. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD STOOKS AND BONDS. I.ii (VOL, XLI. Subscribers -will conCer a great Cavor by giving imlllediate notice ot any error discovered In these Tables. DESCRIPTION. -For explanation of column headings, &o., see notes on first page of tables. .A la. N. 0. Texas cf: Pacific Junc.- lst debentures ... 2d debentures . . • . ................................. A la. Gt. South'n. -1st mortga~, coupon ............. A.lbany cf: Susquehanna-Stoo ......•..••..•........ 1st mort~age .. ..................................... Albany City loan (sinkinlkfund, 1 per ot. yearly). Consol. mort. (guar. D. & . endorsed on bonds) .. Bonds-Prinoi INTEREST OR DIVIDENDS. When Due Miles Date Size, or Amount Rate per When Where Payable, and by pal, Par Stocks-Last of of Whom. Road. Bonds Value. Outstanding Cent. Payable Dividend. -- - --- --- 233 188i 1~84 1878 £100 $7,500,000 £100 2,500,000 $1,000 1,679,000 100 3,500,000 1,000 998,000 1,000,000 1 ,000 8,000,000 1,000 50 2,166,500 1,000 4,000,000 100,000 2,600,000 1,000 10,000,000 9,704,300 100 &c. 1,000 675,000 500,000 ---· 296 209 142 142 142 259 132 110 110 259 27 A Uegheny VaUey-Stook . ...........•................. General mortgage (Riv. Div.) ..................... Bonds to State Pa. (endorsed) 2d mort., East ext. 1st mort. 1 East'n Exten., guar. bJi Pa. RR . ....... Fundino- mcome bonds, with tra o guarantee .... Amador B1·anch-lst mortgage ...................... A sheville cf: Spartanbitrr,-lst mortgage .......•..... ...... New mortgage for $500,000 .....•................. A shtabula cf: Pittsbu1·g-lst mortgage, ooup. or reg .. .62 A. tchison Col. cf; Pacific-1st mort., guar . .. .. ... . ... 254 34 A. tchison Jewell Co. cf: West.-lst M., guar. C.B.U. P. A. tchis..m Topeka cf: Santa Fe-Stock ................. 1,868 1st mortgage, gold, ($15 .000 p. m.) . ... .......... 470 Land r·ant mort~age, gold. ($7,500 p. m.) . .. ..... ··-· Conso. bonds, god, ($7,500 p. m.) . ............... ..... Bonds, gold (secured by mort. bonds) $1.185,000. ·--· B. F. bonds for purchase of K. C. L. & 8. K. stook. Sinking flmd bonds (secured by mort. bds.) ....... .... Bink. fund bds. (secured by deposit of mort. bds.) ·27 W!ohita & Southwest., 1st M.,gold} { 66 Kans. City Top. & W. ~st M., told Guar rental do do moome ds. · · Pueblo & Ark. Valley, 1st M.,gold i¥8 ---- --- - 1863 1865 1876 i866 1870 1871 1874 1877 ---iss5 1:000 1878 1879 1879 isi3o 1870 ---· 18':30 1880 1880 1881 1872 1875 1878 1875 1,000 1,000 100 500 &o. 500 &c. --·· 1,000 1,000 1,000 1,000 1,000 1,000 1:000 ---- -----· 1,500,000 4,070,000 542,000 56,913,250 7,041,000 2,626,000 108,500 1 ,068,000 3,594,000 4,841,000 12,348,000 412,000 854,000 200,000 1,633,000 A. & O. 6 London. J. & D. 6 do 6 g. .r. & J . N.Y.,Farmers' L. & T. Co 312 J. & J. N. Y.,B'k of Commerce. 7 J. & J. N.Y.,Del. &Rud.Can.Co M.&N. 6 do do 6&7 A.. & o. do do ··,foo 5 7 7 6 ---- -6· 6 6 112 7 g. 7 g. 7 g. g. g 412 6 7 g. 7 g. 7 7 g. Winsiow;t. April 1, 1907 June 1, 1907 Jan. 1, 1908 Jan. 1 , 1886 July, 1888 Nev., 1895-'97 April 1. 1906 i: J. ·&--J. Jan'ary A. & 0. A.. & o. J. & J. N. Y., &Co. Harrisbur~, Treasury. Philadelphia or London Pittsburg, Co.'s Office. N. Y., Cent. Paoifio RR. Mar.ch. .i896 100,000 y'rly. April 1, uno Oot. 1. 1894 Jan. 1, 1907 F . .&..A. Q.-F. Q.-F. Q.-F. J. & J. A.. & o. A.. & o. A. & O. M.& S. A. & O. J . & D. J. & J. J. & J. M. & S. J. & J. Phil., Fi<f i:,r:&·s.D.Co. N.Y., Un. Pao.RR.Office N.Y.,Un.Pac. RR. office. Boston, at Office. Boston, North Nat. Bk. do do do do Boston, Co.'s Office. Boston, Boston Nat.B'k. Bos t. Safe Dep. &Tr. Co. Boston, Co.'s Office. Boston, North Nat. Bk. Boston, Everett N. Bk. do do Bost., N. Bk. of N. Am'a Aug.' 1,..i908 May 1, 1905 May 1, 1905 Nov. 16, 1885 July 1, 1899 Oct. 1, 190C April 1, 1903 April 1, 1909 Sept. 1, 1920 Oct. 1, 1920 Deo. 1, 1911 July 1, 1902 July 1, 1905 Mar. 1, 1906 July 1, 1905 ·--- ........... . ........ Alabama N. o. Texas & Pacific Junction (Limlted),-(See Kan., to Warwick, 31 miles; t otal. 254 miles. The road formR an exten• Map Ginn. N. O. cf: T. P.J-This is an English Co. controlling the Vicksburg sion of the Union Paoiflo Central Branch, by whioh the bonds are guaran• & Meridian, 142 miles; Vicksburg Shreveport & Pacific, 189 miles; N. O. & North Eastern, 196 miles; and Spanish Fort R'y, near New Orleans, 13 miles. It also controls the Cincinnati New Orleans & Texas Paci:ti.c Railway Co. (lessee of the Cincinnati Southern Railway ). The manage• ment of the company is the same as that of the Alabama Great Southern RR. Length of roads, 863 miles; add Ala. Gt. Southern RR., 295 miles; entire system, 1,158 miles. The preferred or "A" shares are .£1,500,000, having a preference for 6 per oent dividends and oumu• lative, and the deferred or "B" shares .£2,500,0oO; par value of all shares, £10 eaoh. The first debentures are redeemable any time at 115, on six months' notice. The company holds the following securities, viz.: Cin. N. O. & Texas Pao. $1,532,000 stock; Vioksburir & Meridian, $245,000 1st mortgage, $105,000 2d mortgage, $416,500 3d mortgage, $1,464,300 preferred stock and $363,000 common stock; of Vioksb. 8 hrevep. & Pac. $3,692,000 1st mort., $1,931,000 incomes and $1,594,000 stook; of N. O. & North Eastern $4,900,000 1st mort. and $4,320,· 000 stook; N. O. Spanish Fort&L. RR. $300,000 1st mort. and $200,000 common stock. To obtain funds for further improvements it was vo-WU in Oct., 1885, that 6 per cent prior lien bonds ahead of the first mortgages should be issued on the N. O. & Northeastern, Vicksburg & Meridian and the Vioksb. Shreveport & Pao. roads at $7,000 per mtle, .a.mounting to $2,695,000 1a. all. It was voted to issue £200,000 of Al. N. O. T. & P. J. 2d debenture bondR of same lien as the others. (V. 39, p. 63, '10; v. 41., p. 391, 419.) Alabama Great Southern.-(See Map Ginn. N. O. cf: T. P.)-From Wauhatohie, Tenn., to Meridian, Miss., 290 miles; leased, Wauhatohie to Chattanooga, 6 milee ; total operated, 296 miles. The Alabama & Chattanooga RR. made default Jan. 1, T871, and road was sold under foreclosm·e Jan. 22, 1877. Present company organized Nov. 30, 1 77, and is controlled by an English company of the same title. The lan ds were conveyed In full settlement to the holders of the $2,000.000 of Alabama State bonds. These lands (about 550,000 aores) are held by trustees. (V. 30, p. 117.) Capital stock-common, $7,830,000, and preferred 6 p er cent, $'2,987,650. Gross earnings in 1883, $1,058,763; n et, $306,083. 0 rose in 1884, $1 , 165,102; net, $143,665. (V. 41, p. 355.) Albany & Susqnehanna.-Road owned from Albany, N. Y., to Binghamton, N.Y., 142 miles; branches operated Duanesburg Junction, N. Y., to Sohen~otady, 14 lDUes; Cobleskill, N. Y., to Cherry Valley, 21 miles; operates Lackawanna & Susquehanna RR., 22 miles; East Glen• ville to Coons, 10 miles; total operated, 209 miles. L eased in p erpetuity from Feb .. 1870, to Delaware & Hudson Canal Co.; rental, 7 per cent -on stook and interest on bonds. Additions and betterments ohar"'ed to lessors, and oost made part of investment. The Pennsylvania coal fields, by the joint use of the Jefferson RR., give a large ooal traffic to the road and to the other Del. & Hud. leased roads north from Albany to t h e Canada line. Theconsol. mort. is for $10,000,000, of whioh $3.000,000 are 7 per cents. Gross earnings in 18133·84, $2,611,383; net, $732,718; detloit to leesee after all payments, $157,760. (V. 39, p. 581; V. 40, p. 28; V. 41, p. 162, 558.) Alleo-heny Valley.-Owns from Pittsburg, to Oil City, Pa., 132 miles; branches-Red Bank, Pa., to Driftwood, 110 miles; others, 17 miles; total operated, 259 miles. The company became embarrassed -in 1874 and compromised with its creditors. It still falls short of earning interest liabilities. The amount of income bonds au thorized la $10,000,000; these receive all revenue left after interest on prior liens, and any deficiency is made up by additional issues. Of t h e lncome bonds the Pennsylvania RR., Northern Central and Philadelphia & Erie hold $6,087,000, the interest on whioh is paid altogether in bond scrip; the bonds held by individuals are paid in cash and scrip COil vertible into income bonds. In 1884 the charges for mortgage interest and oar trust payments were $1,132,360; income bonds, $328,972; total, $1,461,332; d eficit in net earnings, $643,471. The debt due to Pennsylvania RR. was $4,153,135 Deo. 31, 1884. In April, 1884t a receiver was appointed at the instance of the Penn. and other railroaas as plaintiffs. Earnings for three years were as follows: 1882, gross, $2,350,698; net, $886,603; 1883, gross, $2,255,942; net, $886,772; 1 884, grosR, $2, 113 ,· 883; net, $812,478. (V. 39, p. 21, 461, 492.) Amador Branch.-Galt, Cal., to lone, Cal., 27 miles. Leased till Nov. 1, 1890, to Cent. Paoifio; rental $3,500 per month. Stock, $675,000. Leland Stanford, President, San Franoisoo. Ashevllle & Spartanburg.-From Spartanburg, 8. C., to Asheville, N. C., 67 miles, of whioh 49 miles, to Hendersonville, in operation. Formerly Spartanburg & Asheville; sold in foreclosure A.pril, 18 l, and reorganized. Stock $1,050,000. In 1883 the mortgage for $500,000 was made to bwid the 18 miles to Asheville; in 1885 the new mortgage for $500,000 was mado. Controlled by Richmond & Danvill e. Gross ~arnings in 1882-3 $39,460: deficit, $777. Gross earnings ill 1883-4, $34,018; deficit, $3,036. 1V. 39, p. 158; v. 40, p. 303; v. 41, p. 75.l Ashtabula & Plttsburg.-Owns from Youngstown, 0., to Ashtabula Harbor, O., 62·6 miles. Organized as Ashtabula Young town & Pittsburg in 1870. Defaulted and property sold AUi'USt 2;1.., 1878. Existmg co mpany organized Sept. 25, 1878, and it is leased by P enn. Co., whioh pays net earnings to A. & P. The common stook is $ 958,591 and preferred $700,000; par of shares. $50. Gross earnings 1n 1883, $-!47,087; net, $163,403; interest , $90,000. Gross earnings i n 1884, $387,187; n et, $93,69 :-3; interest, $90,000. Atchison Colorado & .PacUlc.-Watervillo, Kan .. to Wa shington, Kan., 20 miles; Greenleaf, Kan., to Logan, Kan., 155 miles; Logan to Lenora Kan. 25 miles· Downs h an. to Ball City, Kan. 24 miles· Yuma, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis teed and the road is controlled, and the whole system is virtually owned by Union Paoifio, but operated by Mo. Pao. Stock, $1,526.000, of whioh U. P. and C. P. own $920,flOO. Rental, is $254,370 per annum. A.tchison .Tewell Co. & West.-Jamestown, Kan., to Burr Oak. Kan., 34 miles. Under same au pices and control as Atchison Colorado & Pacific. Stook, $202,800, of whioh Union Paoi:fl.o owns $105,000. R ental is $33,875 p er annum . Atchison Topeka & Santa Fe.-( See Map.)-LINE OF ROAD.-· Main Line-Atchison to Kans. State line, 471 miles. Owned by ownershir, of stock, the Southern Kansas, 507 miles. Leased-Various branch roads in So. Kansas 423 miles; Kan. State L. to S. Pueblo, Col., 149 miles; Pueblo to Rockvale, Col., 37 miles; La Junta to N. Mex. State Line, 96 miles; Colorado St. L. to San Ma rcial, N. M., 354 miles; Lamy to Santa Fe, 18 miles; San Marcia.I to D emino-, N. M .. 128 miles; Rincon to Texas line, 58 miles; ooal and mineral road'.s, 60 miles; Las Vegas Hot Springs road, 6 mile~; Texa line to El P aso, 20 miles; and Deming to Silver City, N. M., 48 miles; total leased, 1,398 miles. Total operated directly, 2,375 miles. The road owned jointly with the Union Pao., 103 miles, and that owned jointly with St. L . & S. F., 45 miles, and the Sonora system, 350 miles, controlled-are not embraced in the miles operated. The total mileage controlled is 2.799 miles. In Nov., 1885, the road of California Southern was opened from San Diego, making a through route to the Pacific ooast via the Atlantic & Pacific RR. ORGANIZATION, LE.A.SES, &c.-The A. T. & s. Fe. Co. was incorporated Marolt 3, 1863, and includes the Atchison & Topeka RR .. incorporated Feb. 11, 18 59. The land i,rrant was received by Act of Kansas Feb. 9, 1864. The main line of 471 miles was opened Deo. 23, 1872. The whole system outside of the main line is nominally under different corporations, of whioh the ownership is vested in the A. T. &S. F., and the roads also leas~d to that Co. and interest on the bonds usually paid as rental. The Southern Kansas an d the Sonora systems are not leased, but are controlled by ownership of the stook. The A. T. & S. Fe Co. has issued its own stock and bonds to purchase -the stocks and bonds of leased and auxiliary companies, and the balance sheet shows $50hl60,613 so invested; besides $3,0151 000 bonds owned, against whioh Ate ison Topeka & Santa F e securities nave not been issued. The fiscal year ends D eo. 3 l. The election of directors is held in April. An agreement was made in Feb., 1880, with the St. L. & San Fran. !or the joint oon;'ltruotion of a line to the Paoifio, under name of Atlantic & P aoifio, ar.d rn Aug., 1884, an agreement wa made for the control of the Mojave Division of the Southern Pacilio and a right for traffic over the Soutnern Pacific to San Francisco, and further agreements with the St. Louis and San Francisco. See V. 40, p. 478, and also Atlantic& Paoltl.o and St. Louis & San Franoi900 in this SUPPLEMENT. STOCK AND Bmms-'I-he stock has been increased rapidly to present figures for the acquisition of the auxiliary lines and by way of stook dividends. Dividends have been-ju 1879, 3 per oent; in 1880 , 8½; in 1881, 6 cash and 50 stock; in 1882, 6; in 1883, 6; in 1884, 6. The range in prices of stock in Boston was-in 1881, 92'tt!l5414; in 1882. 787sW961s; in 1883, 78@8614; in ld84, 5912'@80; in 1885, to Deo. 18, 6314al8912. The land grant bonds receive the proceeds of land sales in payment o! interest and principal, and bonds are paid off accordingly. The A. T. & s. F. bonds have in several cases been issued to build the leased lines, and the mortga&'e bonds of those lines are deposited with trustees as security. The 4-'2 per oent bonils, due Oct., 1920, have the 6 p er oent mortgage bonds ol' the Rio Gr. Mex. & Pac. and the Rio Gr. & El Paso roads as security, the sinking fund bein~ 112 p er oent per annum rising to 312 p er oent by 1910. The 6 per oent bonds, due Dec. l, 1911, have as security 1st or 2d mort. bonds of a number of the proprietary or controlled railroads, depo ited in tru t a s collateral; they are redeemable at 105 by the sinking fund, whioh is 1 p er oent per annum for 10 years and 2 per oent thereafter. The 5 per ocnt bonds, due April l, 1909, are secured by the N. Mex. & So. Pao. 1st mort. 7s. On other bonds the interest is paid as rental. St1ch bonds as are held in the company's treasury, or leased line bonds held as collateral for any of its own bonds given above, are not included in the above amounts outstanding. Interest on the Sonora RR. in Mex (262 miles) 1st M. bonds i~ guaranteed; those bonds are at $20,000 per mile, of which $5,000 p et· mile are owned by the A. T. & s. F. Co. The Lea v. Top. & So. RR. bonds at 4 per oent are guaranteed one•half by the A. T. & S. F. and one-hair by the Union Paoiflo. LAND GRA°l'l"'T-Tbe lands are in Kansas granted by Act of Congress Maroh 3, 1863, and Kansas, Feb. 9, 1864. Laud sales iu 1884, 353,090 acres for $1.186,027. being an average of $3 36 per aore; assets December :n, 1884, $1,346,484 contracts and 1.114,585 acres yet unsold. OPERATIONS, FINANCES, &c.-The A. T. & s. F. has been one of the most successful of roads built into new territory, where a monopoly of busiuess h as produced laro-e net earnings. The connection with the Atlantic & Paoitlc took effect for business in Oot., 1883, and the through line to San Francisco by use of the Southern Paoiflo lines Oct. 1, 1884. In Nov., 1885, the Cal. Southern was compl eted, ,Q;iving a through route to the Pacific coast by the Atlantic & Paoifio road. The report for 1 884 in the CHRONICLE, V. 40, p. 478, said: "Had it not b een for the pool balances of 1!;83, then undetermined, amounting to $211,663, charged against the receipts for 1884, the surplus for the year would have been $1.055.6.50. The undetermined pool balances for the year 1884 a r e estimated to be less than $25,000." * * * "In view of the general condition of business throughout the country and the i 0 ~ i i ·-----i ~ ,-. ~.,,,~~'( -- I I G ~Q: <'ce ' le Purr/nu.., , .L K . T · - va1 I (),'( "JflOtJ,f N I I R. ic~- f-. I I •-•- Tuscarora f Winne bi ' E ~. lJN . *' '(ENNE I · - ·- - P,,ltt(,e is I R .;in ia City .A.ustin c1ry I slvie,. 0 ·, ® I Ca ndelaria ~ \_} ,\ ~J~ Pioche o \I. rn. ~ 0 0 i i i n a l cher ' G acl ·1·P(TB~; ~ 11~~ i ~~ Pt.~c ~ om .. rn. 0 . Ll an o !I Estacado j or ~ Stakea Plain ~ M4.P QF 'rHE ~ -,:) aso e il.c I - 0 h11,__s7i- ---! f a~ ltu·is 17 P""""I ATCI · II SON, TOPEJ{J\:, And Connections. agclalcna a.Ana ) Querobabi https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis \\ Carbo ~. 0 ½ ¼= ~ . 1 < AND SANTA FE R. R. ~ { -y \ lrmosi lo Torres \ ~ A~~AS / C H I H II ( \ U , \ jC c~,., San ta Rosalia GU I H U A CHIH AHUA I i 0 , rll'l E OF .X I C 0 16 RAIL.ROAD STOCKS AND BONDS. (VOL, XLI. Subscribers will conCer a great Cavor by giving lllllll.edlate notice ot any error discovered In these Tables. Bonds-Princt.DESCRIPTION. INTEREST OR DIVIDENDS. Miles Date Size, or Amount Rate per When Where Pahable, and by pal,WhenDue. par Ff.Jr explanation of column headings, &c., see notes of of Stocks-Last on first page of tables. Dividend. Road. Bonda Value. Outstanding Cent. Pay'ble W om. -- --- ---- Jl ·1 Atch. Top. dS.Fe-(Oontinued.)134 1878 $1,000 $1,942,000 Pueblo & Ark. Val., 1,t (& 2d on 148 m.). · ) 1,000 Kansas City Emporia & S., 1st mort....... A j 64 1879 532,000 92 1879 1,000 798,000 Cow: Sum. & Ft. Scott, lstmort ............ f A 1,000 Marion & McPherson, 1st mort. . . . . . . . . . . . ~ ~ 93 1879 713,000 Florence El Dorado & W ., 1st M., gold .... ·O 1,000 26 1877 310,000 Leavenworth Topeka & S. W.-lstmort., 19 guar. 46 1882 1,000 690.000 N. Mexico & So. Pac.-lst i\:I., gold, guar. r ental.. 372 1878 1,000 4,425,000 1.000 Sonora, 1st mort., fld, intere t guaranteed . ••... 262 1880 4,050,000 Southern Kansas- .C. Law. & So., 1st mortgage. 175 1879 500&c. 2,940,000 Southern Kansas & Western-1st mortgage .... . 149 1880 1,000 1,715,000 1,000 Sumner County RR.-lat mortgage ............. 18 1880 230,000 1,000 Ottawa & Burlington RR.-lstmortg .... . ..... 42 1880 500,000 Atlanta d Oharlotte.-Stock (g uar. 5 p. ct. by rental) 269 100 1,700,000 New pref. mort .................................... 265¼ ieih 1,000 500,000 1,000 Mortgage bonds .. ....... ....•• " .............. ... ... 26519 1877 4,250,000 500 Income bonds, registered (not cumulative) ....... 1880 750,000 100 1,232,200 A.tlanta & West Point-Stock ........ . .........•...... 87 1,232,200 Debenture certificates ............................. iss1 ·500 196,000 Atlantic & North Oarolina-lat mortgage ........... . 95 1868 Atlantic&Pac.-lstmort. g.,W. D.(s.f.) $25,000 p.m. 560 1880 1,000&c 16,000.000 50&c. 12,000,000 Income bds., non•cum'tive, ($18,750 p .m.) ... , . . . . 102 1880 1,189,905 1st RR. & land gr. bonds on Cent. & Mo. Divisions 99 1871 oOO&c. 1st land grant bonds on Central Division . ....... . 102 796,629 --·· 1,000&c New 1st mort., road and lands, Central Div . ..... 600,000 65 iss2 50 &c. New income bonds, Central Divi sion. non-cum .. 102 1882 450,000 £100 Atlantic & St. Lawrence-Stock ($5,459,036 stg.) .. 151 5,484,000 .... 1st mort. to City of Portland (sinking fund) ...... --·· 787,000 .ei"oo 712,932 3d mortgage, sterling, 5·20 years ................. 150 i871 100 .Augusta & Savannan-Stock .... . .. . . ..... .. ........ 733,700 53 1,000 384_,ooo Bald Eagle Vatley-Gen'lmort.,(s. f . $4,000 per yr.) 80 isso J 7 g. J. & J. Boston, Nat.Bk.ofN.Am J. & J . Boston, North Nat. Bk. 7 A. & 0. 7 do do 7 g. A. & O. do do g. A. & O. Bo&ton, Nat. B.N.Amer. J. & J. Boston, A.m.L'n&Tr.Co. 7 g. A. & o. Boston, Everett Nat.Bk. 7 g. J. & J. Boston, Nat.Revere Bk. A. & O. Boston, Nat. Union Bk. 6 7 J. & J. do do M.& S. do do 7 A. & O. do do 6 2¼ M.& 8. N.Y. Central Trust Co. do A. & o. do 7 do J. & J. do 7 do A. & o. do 6 J. & J. Atlanta, Ga., atTreas'y. 3 do do 6 J. & J. Company's Office. 8 J . . & ... T. New York. 6 g. A. & o. ...... . - 6 New York. 1\1. & N. 6 do At Mat. 6 do M.& S. 6 J. & D. 6 M.& S. London:·Gi.-:±i·unk Rw. 3 M.& 6 6 g. M. &N.' r,ondon·, ·Gr:Ti-unk Rw Savannah. 3¼ J. & D. 6 J. & J. Phila.,F.Ins.Tr.&S.Dep. I ~ July 1, 1905 J uly 1, 1909 Oct. 1, 1909 Oct. 1, 1909 Aug. 1, 1907 July 1, 1911 April 1, 1909 Jan. 1, 1910 Apr. 1, 1909 Jan. 1, 1910 Sept. 1, 1910 April 1. 1909 Sept. 5, 1885 April 1, 1897 Jan. 1, 1907 April 1, 1900 July 189 1886 18 1 1888 July 1, 1910 Oct. 1, 1910 Nov. 1, 1891 Nov., 1901 March 1, 1922 June 1, 1922 Sept. 15,1885 Nov. 2, 1888 May 1, 1891 Dec. 4, 1885 Jan. 1, 1910 I special circumstances affecting- the Atchi on Company's lines, the b usi-1 Air•Line was sold under foreclosure Dec. 5, 1876. and the existing corneas of the year cannot but be regarded as satisfactory; and, had it not poratiou was formed Feb. 27, 1877. On March 26i 1881, .t he road was been for the low prices of grain which have prevailed the last few lea ed to the Richmond & Danville at a rental or $462,000 per year, months, the earnings would have shown a much lar&'er increase. Amon~ equal to the interest on debt and 5 per cent on stock; if gross earnings the special circumstances which the company has nad to contend witn of A. & C. A. L. exceed $1,500,000, dividends to be 6 oer cent ; and if during the year were the coal strikes and washouts." * * * "The theyexceed$2,500,000,7percent. Gross earnings in 1882-83,$1,074,laro-e increase in the operating expensesfor 18B4,as compared with 016; net, $397,174; r ental, $166,500; loss to R. & D,$6 9,325. In 1883, calls for special explanation:- A d etalled comparison shows that 1883·84, gross, $1,012,631; net, $338,73 1; loss to R. & D ., $127,769. the largest increase, $673,342, is in repairs and renewal of track. O t Atlanta & West Point.-Owns from East Point, Ga., to West this amount, the washouts and fre hets caused an expenditure of $330,386 in excess ol the corresponding expenditures in 1883." ,. * * Point , Ga., 81 miles; leased, 6¼ miles; total operated, 8712 miles. [n "Of the main line of the company from Atchison and Kansas City to April, 1 881, a controlling interest in the stock was purchased fo r the . Pueblo, D eming and El Paso. and from Benson to Guaymas, h aving a Central Georgia, and a stock dividend of lOu per cent was afterward mileage of 1,692 miles, 1,543 are laid with steel rails, and, of the declared in debenture certificates. Gross earn's in 1884-85, $410,222; n et, auxiliary roads, 214 miles are lai l with steel. The other principal $173,079; in 1883-84, gross, $412,640; net, $133,378. increase over 1883-namely, $336,947-is in the repairs of rolling stock Atlantic & North Oarollna,-Owns fromMoreheadCitytoGoldsand engines. In 1883 , the expenditures for these repairs were not kept boro, 95 miles, and operates the Midland No. Car. Ry. from Goldsboro to up to the full standard, so that in 1884 the charges to this account were Smithfield, 22 miles. Gross earnings in 1883-8-1, $146,324; net, $50,482. largely increased." Atlantic & Paclfl.c.-This corporation was chartered by Act of ConFor ten months from Jan. 1 , to Oct. 31, 1885, gross earnings were gL·ess July 27, 18 66. The Western division is from Isleta, near Albuquer$12,714,608, against $13,594,878 in 1884; net, $6,045,404, against que, on .A.tch. Top. & Santa Fe, to Big- Colorado River, 560 miles, where $6,468,728. it meets the line to Moj ave, California, l eased by this Co. in 1884 A summary of the annual report for 1884 was published m the CHRON- from the Southern Pacific of Cal. The A. & P. to Uolorado River was ICLE,~. 4.0, p. 448. Income, etc., for four years were as follows: opened for traffic Oct., 1883; in Nov., 18 35, the Cal. Southern was Earnmgs, &c., for two years,and general balance for 1884,are as follows, completed , giving a through route to San Diego on the Pacific coast. these statistics embracing the Atchison Topeka & Santa Fe and South· Also the Central Division is finished from Seneca, Mo., to Red Fork in ern Kansas systems combined, but nothing of the Sonora, Atlantic & the Indian T er .. 102 miles, and projected westward to a junction with Pacific or roads owned jointly. the Western Division. The Central Division is at present opera ted by OPERATIO. S AND FISCAL RESULTS, the St. Louis & San Francisco Rail way Co. 1883. 1884. B y the·• tripartite·• agreement of Jan. 31, 1880, the Atch. Topeka & Total miles operated................ .. .. . • . .. . . 2,219 2,374 s. F. and the St. Louis & S. F. guaranteed 25 per cent of the gross earnPassengeri:! carried, No.... . ... . .............. . . 1,072,169 1,502,485 ings over their lines on business to and from the West. Div., provided Passengers carried one mile . .. ....... .. .. .... . 120,411,659 135,412,096 its own earnings were insufficient to pay coupons, and the advances so Rate per passenger per mile................... 2 ·909 cts. 2·643 cts. made constitute a loan to be repaid by the A. & P. with interest. The Freight (tons) moved................ . ....... .. 2,240,4.30 2,725,19l stock authorized is $100,000,000, and issued $54,810,300 (par $100), Freight (tone) carried one mile ................ 582,176,176 634,711,316 of which $41,302,600 is owned oy the At. T. & S. F. and the St. Louis & Rate per ton per mile.......................... 2·009 cts. 1 ·882 cts. S. F. companies equally, and d eposited in trust tor thirty years. The stock is classed thus: Western Div., com. stock, $34,750,000; Cent. and. Earnings$ $ 3,583,018 Mo. divs., com. stock, $3,660,300, pref., $11,400,000. The old pref 11,9-16,453 stock has no preference over the A. & P. West. Div. stock. The Southern Pacific built east to meet this road at the Colorado River. 762,412 Mail, express, &c...... .. . . . .. . . . . . . . . . . . . . •. . . . 707,297 and in August, 1884, the 242 miles of road from Mojave to The Needles, Total gross earnings........ . . . . . . . . . . . . . 15,909,4.4.1 16,291,883 on the Colorado River, w as sold to the A. & P. Compa ny for $7,271,Operating Expenses100, payable in A. & P. 1st mortgage bonds, at par. issued on said 242 Mamtenance of way, &c. .. . .• •..... .. ..... ... . 2,216,574 2,861,236 miles. but " should the bonds or their proceeds be less than the purchase Maintenance of equipment.................... 1,124,9-!9 1,-161,896 price the differ ence is payable in money." (This difference in cash was Transportation expenses. ... ..... .. .. .... ... ... 3,227,352 3,560,610 $1,211,850 above the par value of bonds issued to the South'n Pacific.) Miscellaneous. ........... . . . . . . . . . . . . . . . . . . . . . . 673,722 670,856 Until clear title to this piece of ro id is gi ven. the A. & P. takes possesTaxes ........................ .. -· . . .. . .... . .. .. . 410,319 421,378_ sion and pays 6 per cent per annum on the $7 271,000. The same Total operating ex11enses................ 7,652,916 8,9il'>,976 n egotiation gave a right by contract to run through trains to San Fran7,315,90 7 cisco over the Southern and Central Pacific lines on payment of rental 8 25 ' 55·09 either on a mileage basis or at 3 per cent per annum on ;f,40,000 per mile. See V. 39, p. 208; V. 40, p. 50. INCOi\IE ACCOUNT FOR 1884. The land grant claimed under the old Atlantic & Pacific charter Recei,ptsDisbursementsN et earnings ............ $7,315,907 Renta ls paid............ $37,099 of July, 1866, is 25,600 acres per mile in Territories and ~2,800 acres in States. The total land grant on the whole road, 1:f conRentals, dividends, &c.. 28,488 Interest on At. ·.rop. & s. Other receipts........ .. 14.2,014 F. and So. Kan. bonds. 1,812,54.4. structed as tmder the charter, would be 42,000.000 acres; on the West. Divii!ion upwards of 14,000,000 acres in New Mexico and Arizona. From land grant trust's. 183,281 Interest paid as rental.. 866,655 Interest on land bonds.. 1 88,28 1 have been earned by construction, and in the Indian T erritory 2,600,000acres more, the b est of these lands being well adapted for grazing. The Dividends . ... ........... 3,414,736 proceeds of sales of the cwmpany's lands have so far been applied to payRate of dividend........ 6 ment of interest on A. & P . bonds or the lands have been conveyed in Sinking funds........... 269,716 P aid to other roads.... 241.677. trust to t he Atchison and San Francisco companies, and about 6,000,000 acr es h ave b f' en so disposed of. Sefl CHRONICLE, V. 40, p. 49. The Total income ..•. .. ~7,67-1,690 Total disbursements .. $6,830,707 first mortgage bonds may be drawn and paid off at 110 with proceeds of Balance, surplus................................................ $343,983 land sales. ·.rhey are receivable at par in payment for lanas. A map of GENERAL BALANCE DEC. 31, 1884. the land grant was published in the 9HRONICLE, v. 36, p. 46~. Assets$ L iabUities$ The income account for 188-t was rn V. 40, p. 49, but this had little RR., bldgs., equip.,&c. 4.8,943,706 Stock, At. Top. & S. F. 56,913,250 significance, as the Mojave Division was not operated till August, Leased roarls (see conStock So. Kansas RR. 13,759.900 1884, and t h e traffic contracts a nd rebates did not appear in this tra)........ .... ..... 11,819,000 Boods(seeSUPPLEM'T) 34,3 '25,500 account. The detlcit in income to pay interest has been made up by Stocks & bonds own'd 54.,418,352 Acc'ts, &c., payable.~ 2,397,1367 advances from the Atchison and San Francisco companies. Accounts receivable.. 2,317,557 Coups.,gold prem., •c. 9lJ3,755 H. C. Nu_u, President, Boston. The followini ?irectors were elected At. & Pac. RR. acc'nt. 1,723,214 Contingent liabilities. 11,819,000 May. 188.:>: Henry C. Nutt, W. C. Strong-, 1. r. Burr, C. P. Cheney, U. 8. Government.... 356,418 Dividends.... . . .. . . .. 869,6:.W A. W. Nickerson, Walter L . Frost, Geo. O. Sha,ttuck, L. C. Wade, of Cash and bank bal's . 1,112,4.82 Fire insurance fund.. 145,012 Boston : Jesse Seligman, C. P. Huntington, Edwin P. Winslow, Brice Materials & supplies.. 1,595,73-1 Renew. & impt. acc't. 500,COO Gray, Wm. F. Buckley, of New York. (V. 39, p. 21. 70, 127, ~08, 263. Miscellaneous items .. 194,903 Suspended accounts.. 591,295 349, 381; v. 40, p. 27, 84, 624,651, 763; v. 41, p. 22, 49, 189, 652, 688.) Land grant trust..... 1,498,027 A t lantic & S t. Lawren ce .-Owns from Portland, Me .• to l sland Canceled bonds....... 1,874.&00 Pond Vt. (and branch), 151 miles, there connecting with Grand Trunk Income balance...... 6,883,64.0_ of Canada, to which leased for 999 yea.rs, August 5, 1853, at a rental Total.. •...•....... ' 122,481,366 Total liabilities ... 122,481,3!16 equal to bond interest and 6 per cent on stoc.k. The bo;ids. to city of ~ e above assets are exclusive of the bills receivable for sales of land, Portland are provided for by accummulat10ns of smking fund. The Grand Trunk RR. owns the old 1st and 2d mortgage bonds. Grose $ 1,346,4.85, and the value of 1,114,586 acres of unsold lands. t Southern Kansas stock is all owned by the At. T. & S. Fe. Co. through ear nin~s in 1883·84, $1,067,432; net, $175,411. Gross in 1882-8 3 , $1,017,284; net, :U56,072. the K. c. Top. & w. RR. -(V. 4.0, p. 240, 268, 321, 330, 362,393,437, 467, 4'18, 479,508,553, Aug u sta & Savanna h.-Owns from Millen to Aui:i;uata, Ga., 53 m . 684; v. 41, p. 22, 160, 16~, 272, 306, 444, 4-16, 526. 528, 584, 652.) Leased to Central of Ga. for ~, 3,000 per annum. Has no bonded debt. .A.tlanta & Charlotte A i r L l n e . -(See Map Rich. & Danv.)-Owns Bald Eagle Valley.-Owus from Vail Station, P a., to Lockha_ven , from Charlotte, N. C. , to Atlanta, Ga., 269 miles. The Riehm. & Atlanta Pa., 51 miles; branch, Milesburg, Pa., to Bellefonte, Pa., 2¼ miles ; ;::;~i~~·.:: ·.-.: :·.-.::·.·.:::·.: ::·.:: :·. ·:: ::::::::::: itgii:r~i i:: ~!~fgf~pe~atiiig ·expenses io· ea1;:diigs ·:. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis t·J.lg DECEMBER, 1886. J RAILJW.AJ5 STOOKS AND OOMm 17 Subscribers ff'ill c onCer a great Cavor by g i ving i mmediate notice oC any error discovered in these Tables. I Bonds-Prmm• DESCRIPTION. INTEREST OR DIVIDENDS. Size, or pal.When Due. Date A.mount For explanation of column headings, &c., see notes Miles of of Par Outstanding Rate per When Where Payable, and by Stocks-Last on first page of tables. Cent. Payable Whom. Dividend. Road~ Bonds Value. I · --- B.:iltimore cf: Ohio-Stock ............................. 1,650 Preferred stock. . . . . ............................... Loan due in 1880, extended ....................... ..... Loan, 1853, extended in 1885 ..................... do 1870 ,sterlin~, £800,000, sink. fund ....... Baltimore loan, 1855-'90, sink. fund .............. Sterling mortgage, sinking fund ................... Sterling mortgage, sinkin·g fund .................. 421 Purchase of Conne]J.sv. RR (payable$40,000y'ly) Loan,ster., (s.f.£7,500) (B.O. & Ch.bds collat'l) ..... 263 Bonds (Parkers bu~ Branch bonds collateral) .... 104 Bonds to State of aryland .... . .................. .... Sterling mortgie on Philadelphia Branch ....... ---Bonds, gold (Pi so. & Connellsville b'ds collat'l). 150 Mort. on Schuylkill R. East Side RR. (guar.) ...... ---Baltim01·e ct; Potomac-1st M (tunnel) gold, s. f. 1 p. c. 119 1st mort., road, gold, coup•m, s. f. 1 per cent ..... 90 2d mortgage, income, road and tunnel, reg ....... 92 Beech Greek Clem'f'ield & S. W.-Stock .... . . . ....... 82 Belleville cf; ElDomao-ls t(int. guar. St.L.A.& T.H.) 52 2d mortgage ........................................ 52 Believille cf; South. Ill.-Ist M. (int. & s. f. guar.) ..... 56 Bells Gap_. -1st mor~age ............................ ---· Extension 1st mo1 gage ............................ ---Consol. mort. (for $550,000) ....................... BelvidereDel.-lst mort. due 1877, extended, guar. 64 3d mortgage bonds of 1857 (now 2d) ............. 64 Cons9l. mo1·t~geof 1876 ........................•. 67 Flenungton R . mortgage bonds .................. 12 Bennington cf: Rutland-1st mortgage ............... 59 Berkshi1·e-Stock . .•..•........•..••...•...••..••..... 22 ---· ---- 41i 0 ---· ------- 1853 1870 1855 1872 1874 1875 1877 1879 1878 1883 1885 1885 1871 1871 1875 ..... 1880 l880 1866 1873 1875 1883 1877 1857 1876 1876 1877 ..... $100 $14,792,566 100 5,000,000 577,500 ---1,710,000 2,092,588 2,575,000 .iioo 7,427,012 £200 8,432,096 600,000 7,43'1,240 £200 1,000 3,000,000 366.000 £200 11,616,000 1,000 10,000,000 1,000 (1) 1,000 1,500,000 1,000 3,000,000 1,000 2,000,000 50 4,307,000 220,000 330,000 1,04-i,OOO 1~000 .... 250,000 100,000 ---~0 '),000 1,000 1,000,000 500 745,000 1,000 1,200,000 1,000 250,000 1,000 475,000 100 600,000 ------· ---- ---- Snowshoe to Su~ar Camp, 2612 miles; total operated. 80 miles. Opened December 7, 18t>4, and leased to Pennsylvania Railroad Company for 99 years. The branch is the property of the lessors. Rental, 40 per cent or gross earnings, and in 1884 was $204,283; paid interest, $23,487, and dividends (10 per cent), $85,005. In Feb., 1885, 5 per cent paid. Stock is $935,000 (par $50), and dividends are paid according to earnings. Baltimo1·e &; Ohio-(See Map).-LINE OF ROAD--The B.& o. system embraces roads in Md., Va., Penn., Ohio, Ina. and Ill., which are clearly shown in the accompanying map. By means of the Jfarietta & Cinclnnati, via Parkersburg, the road has a direet route to Cincinnati. The B. & O. mileage 1s: Halt. to Wheeling (main) 37l.l miles; BranchesTo Locust Point 5, Camden cut-off 1, Junction to Frederick City 3, Point of Rocks to Washington 43, Curtis Bay Branch. 5 miles, Washington, Pa., to Pittsburg, Pa. (narrow guage), 38 miles, Bridges 3; total owned, 478; branches leased-Hyattsville to Shepherd, Md., 13, Winche ter to Harper's Ferry 32, Winchester to Strasbur"' 19, Strasburg to Harrisonburg 50; total branches leased, 114; totaf B.&O. main and branches 553: leased, controlled and operatetl-Rela;y House to Washin~on 31, Grafton to Parkersb'g, W. Va., 104, Wheelmg to Washington, .l:'a., 32, Pittsburg to Cumberland,Md., 150, Berlin Branch RR 9, Mineral Point to Johnstown 46, Weavert'n tu Hagerstown, Md., 24, Harr1sonbnr~ to Staunton 26, Broadford to Mt. Pleasant, Pa., 10, Connellsville to Urnontown, Pa., 14, Bellaire to Columbus, 0., 137, Sandusky to Newark, O., 116, Pittsburg So. RR., 53, Newark, 0., to Shawnee, 0 ., 44, Chicago Junction, 0., to Tilinois Junction. Ill., 263; total leased, &c., 1,059; total operated, 1,650 miles. The B. & O. Phila. Brnnch, connecting with the Balt. & Phila. RR., makes a line from Balt. to Phila., and thence via the Schuylkill Val. & East Bide RR. to a connection with the Phila. & Re1:td. lines to Bound Brook, N. J. Thence tlleproposed route to Staten Island, as noted in CHRONICLE, V. 41, p. 611. ORGANIZATION, LE.A.SES, &c.-The corporation was chartered in Maryland Feb. is, 1827, and in Virginia March 8, 1827. First section opened May 24, 1830. The company was assisted by loans from the City of Baltimore. The relations with the auxiliary branches and leased roads are complex, but the B. & 0. virtually owns nearly all of these east of the Ohio River, and the total charges for rentals and guarantees are moderate. In J 884 the stocks and nonds of allied companies held were $21,786,000 (of which $7,711,000 were held by trustees). The company has been exceptional in not increasing its own stock or bonds for new properties acquired, and bad a surplus to credit of income account Sept. 30, 1885, of $-!7,814,615. Fiscal year ends Sept. 30. STOCKS AND BONDS-The pref. stock carries 6 per cent dividends only. The common stock has paid-in 1877, 8 per cent; in 1878, 8 in stock; m 1879, 4 stock and 4 cash; 1880, 9; 1881, 10; 1882, 10; 1883, 10 ; 1884, 10; 1885, 10. The range in prices of common stock in Baltimore in 1881 was 183@210; in 1882, 190ft202; in. 1883, 19212@205; in 1884, 167@199; in 1885 to Dec. 18, 166121l>185. The Baltimore & Ohio direct bonds of 1879 on Parkersburg Branch are secured by deposit of mortgage on that road. The sterling mortgage of 1883 is made to William F. Burm, John Gregg and T . Harrison Garrett, trastees, and secured also by pled.2:e of £1,000,000 1st mort. bonds of the Balt. & Phila. RR. (Md. State line to Phila.) The bonds of 1877, due 1927, are securect by the mortgage bonds of the B . O. & Chic. roads deposited as collateral. The B. & O. bonds of 1885 are secured by $10,000,000 2d consol. bonds of Pittsburg & Connellsville RR., deposited with Union Trust co. of N. Y. as trustee. The bonds of the Schuylkill Val. & East Side RR. ($4.500,000) are to be guaranteed by B. & 0., as that road forms part of the route Phila. to N. Y. OPERATIONS, FINANCES, &c.-The fl.seal year ends with Sept. 30, and for 1884-85 an abstract of the report was given in the CHRONICLE, Vol. 41, p. 583 . 'l'be full report in pamphlet form, with income account and ba!ance sheet, is not issued till some months after the close of fiscal year. The income account for the year previous, ending Sept. 30, 1884, was : Net earnings from transportation ..................... . ....... $5,237,741 Receipt from other sourcesDividend of 10 p. c. for year on Wash. Br. stock ... $102,800 House rents received during ti.seal year........... . . 20,679 Increment from sinking fund, W. C. & P. L . RR. . . . 5,865- 129,344 Available revenue .... . ... ... . . ... . . . .. ... ....... . ...... . ... -$~367,086 Pai1mentsD ividends 10 per cent ........ .... . .• ..... . ........ $ 1,478,385 Interest and taxes ....... . . . .....• . .... $3,692,621 Less cash rec'pts & net earn'gs of B. & O.&C.RR.andL.Erie and C.O.divs... 2,018,328-1,674,292 Ground rents....... . .. . ............ . . . ......... . .. . 34,028 Rental of Winchester & Potomac RR. $27,00 0 Do Winchester & Strasburg RR 5,229 Do Strasburg- & Harrisonb.RR. 89,250 Do W.City&Pt. Lookout R R.. ::$0,000 157,479 Straitsville Division, loss . . . . . . . . . . . . . . . . . . . . . . . . . 32,782 Central Ohio Divisionloss. .. . ... .. . ... . .. ..... .... 49,802-3,426,770 Balance, credited to profit and loss . . . . ..... . ........•..... $1,940,316 The abstract of the last annual report given in the CHRONICLE, Vol. 41, p. 583, contains the following remarks: " It is shown by the report of the General Manager that the tonnage of through merchandise east and west has been 'J,338, 1:47 tons, whilst in the preceding year it was 2,275.252 tons. 766,163 barrels of fl.our and 1 3,04.8,258 bushels of grain were brought to Baltimore during t h e fiscal year, being an increase of 48 ,905 barrels of fl.our and an increase of 1,495,206 bushels of grain as compared ,vith the preceding year." https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis M.&N. 5 J. & J. 3 4 J . & J. 4 A.. & o. 6 g. l\f. & s. J. & J. 6 6 j?. M.& 8. 6 g, M.&N. J. & J. 6 5 g, J. & D. A.. & 0. 6 J. & J . 6 412 g. A. & O. 5 g. F. & A. 5 6 g. J. . &.J, 6 g. A.. & 0 . J. & J. 6 7 6 8 7 6 6 6 6 7 6 7 1~ J. F. A. J. F. .&..J. &A. & 0. & J. &A. J. .&..D. F. & A. J. & J. J. & J. M.&N. Q.-J. Baltimore, Office, do do do do do do Lond'n,BaringBros &Co Baltimore, Office. London,J.S. M organ&Co London, f.S.Morgan&Co Baltrmore, Office. Lond., Baring Bros.&Co. Balti. &N.Y.,D. M &Co. Balt. & Ohio RR. Co. London, Brown, S. & Co. New York Agency. ........... London or Baltimore. Baltimore. do Nov. 2, 1885 Jan., 1886 At will. Oct. 1, 1936 Mar. 1, 1895 1890 Mch. 1, 1902 May, 1910 1886-1900 June 1, 192? April 1, 1919 July 1, 1888 April 1, 1933 Feb. 1, 1925 1925 July 1, 1911 April 1, 1911 Jan. 1, 1915 July," ·i; "i910 Aug. 1, 1920 Oct. 1, 1896 July 1, 1893 Aug_. 1, 1905 April 1, 1911 Philadeii>iii::i; Pa. RR. 1902 do do 1887 Treasurer, Trenton,N.J. Jan. 1, 1916 do do Jan. 1, 1916 N. Y., Union Trust Co. Nov. 1, 11397 Stockbridge, Treasurer. July 1, 1885 l N. Y. st:t".A:&T. H. RR. do do N.Y. St. L.A. &T. H. RR. Phil,Cas att,Town.&Co. do The tonnage of through merchandise East and West was as follows in each of the past ten years: 1874, 752,256; 1875, 872,101; 1876, 1,093, 393 ; 1877, 1,047,645; 1378; 1,149,499; 1879, 1,42f),629; 1880, 1,980, 397; 1881, 2,014,110; 1882, 2,043,227; 1S83, 2,108,325; in 1883-4 2,275,252; in 1885, 2,338,147 tons. The gross and net earnings of the main stem and its branches and of the other divisions, fo,· the last fl.seal year, as compared witn 1882-83. were: ..-Earnings, 18 3-84.--- ,----Earnings, 1884-85.--Gross. Net. Gross. Net. Main stem . etc ......... $11,506,958 $5,237,742 $9,733,252 $3,969,900 Washing-ton Branch... 335,944 180,331 315,308 194,771 Parkersbu1·g Branch... 643,164 141,753 547,757 48,848 Central Ohio Division. 1,169,773 376,638 1,060,166 295,856 Lake Erie Division . . 1,016,508 26 t,700 817,785 119,918 Chicago Division.. . . . . 2,046,880 4.8 ,988 !,72t.,612 261,605 Pittsburg Division..... 2,294,827 1,04:3,132 1,999,960 773,419 W:heeling Pitts. & Balt. 141,89~ 13,621 l 299 37 2 7,940 Pittsburg Sou.them.... 112, t2n 16,668 S ' New'kSomerset & St'le 168,532 757 118,430 def. 29,102 Totals .............. $19,436,607 $7,760,300 $16,616,642 $5,643,057 The workmg expenses of the whole system were 66·03 per cent of gross revenue in 1884-5, against 60·07 per cent the prece.aing year. Results on all lines in five years have been: Years. Gross Earnings. Operating Expenses. Net Earnings. 1880-81.. ...... $18,463,877 $11,390,479=61·69 p. c. $7,073,398 1881-82 . ..... .. 18,383,875 10,929,213=!59·44 " 7,454,662 1882-83. ..... .. 19,739,837 11,034,014=55·89 " 8,705,823 1883-8-!. ..... .. 19,436,607 11,676,307=60·07 " 7,760,300 1884-83 ......•. 16,616.64c2 10,973,585=66 ·03 " 5,613,057 -(V. 39, p. 209,568, 579, 681, 682,732; V. 40, p, 181,453,541,763; V. 41, p. 3U6, 555, 573, 5 83, 611, 653.) Baltimo1·e & Potomac.-Owns from Baltimore. Md., to South End Long Bridge, Va., 43 miles; and from Bo,vie to Pope's Creek, 49 1niles; t otal, 92 miles-including tunnel in City of Baltimore. The road is controlled by the Pennsylvarna Railroad Co., and first mortga~ebonds "'Uaranteed by Pennsylvania and Northern Central. Capita1 stock, §3,553,250. In 1881 gross earnings, $1,224,572; profit. $58,527. For ten mout hs of 1885 from Jan. 1, net earning were $445,033, against $337,334 in 1884. Income bonds wholly held by Penn. RR. Co. B eech Creek Clearfield & s. W .-Jersey Shore, Pa., to Ansonville Junction, Pa.. 67 miles; branches to Phillips bur~. to mines, &c., 15 miles; total, 82 miles. This is the company in wuich the Messrs. Vanderbilt and others were interested, andwhicll was to be sold in 1885 to the Penn. RR. Co., as per circular quoted in CHRONrcr,E, V. 41, p . 103, by the terms of which the Penn. RR. offered to purchase 60 per cent of t he stock and guarantee 4 per cent per annum on bonds to be issued not exceeding a total of $5,000,000. Th6re is no fnnded debt out, but $1,300,000 of bills payable, secured by pledge nf $4,500.000 bonds. An assessment of stock and a reo1".9.anization is proposed, as in V,41.p.72~ (V.41,p.10~355,55~6o~720 .l B elleville & El Dor ado.-Au extenston or Belleville & So. Illinois, from Du Quoin to El Dorado, 52 miles, and leased to St. L . Alton & Terre Haute. Rental 30 per cent of gross earnings up to $2,500 per mile, and 15 per cent on all above that amount. Rental received for 1882, $22,206; for 1883, $15.678; for 1884. $l5,171. Stock, $1,000,000. B elleville & Sout h e rn Illin o is.-Owns .from Belleville, ill., to Duquoin, Ill., 56 miles. It was leased Oct. 1, 1866, to the St. Louis Alton & Terre Haute Railroad Co. Lease rental 40 per cent of gross earnings up to $7,000 per mile (except on coal, &c.), 30 per cent above $7,000 and up to $14,000 per mile, and 20 per cent on any excess of $14,000 per mile. Rental for 1882, $167,990; for 1883, $167,719; for 1884, $ln8,799. Interest on bonds, and sinking fund$5,000 per year, guaranteed by lessees. Common stock, $430,000; pref. 8 per cent stock, $1,275,000, non-cumulative. Dividends on preferred stock past four years have been-5 in 1885 ; 512 in 1884; 614 in 1883; 512 in 1882: 412 in 1881. Bells Gap.-Bellwood, Pa., to Irvona, Pa., 25 miles. Gross earnmgs in 1883-4. $133,944 ; net, $68,729; interest paid, $37,022; eividend s, $85,500; miscellaneous, $11,VOO; deficit, $57,309. Jau., 1883, scrip dividend of 1 5 per cent was declared on stock ($350,000) . Of the co nsol. mortgage $ 350,00 0 ls reserved to retire prior issues. Stock was increased in 1883 to $550,000. Chas. F . Ber wind, Pres., Philadelphia. Belvide re D ela-ware .-Owns from Trenton, N. J ., to .Manunka Chunk, N. J., 67 miles; Millham Cut-off, 1 mile, Flemington RH.., 12 miles; total operated, 80 miles. Leased to United Companies, and transferred to Pennsylvania RR. March 7, 1876, by which operated as their Belvidere Division, and net earnings paid over as rental. In Feb ., 1835, the Flemington RR. Co. was merged in this. The first, second and third bonds are guaranteed by the United Companhs. In 1883 net earn• ings were $568,259, and interest payments $268,950. In 1884, net, $529,400; int., $263,513. Capital stock, $1,150,000; par of shares, $50, -(V. 41, -p. 215.) Benning ton & Kutland . -Owns from Rutland to Bennington, Vt., 57 miles; branch, No. Bennington to New York State Line, 2 n:ille;; total, 59 miles. Chartered as West. Vermont in 1845, and consolidated in Harlem Extension in 1870. Since Sept. 10, 1877, the Vermont division (as above) operated by the reorganized Bennington & Rutland. Stock $1,000,000 authorized (par $50), and $502,000 issued. In 1883 gross earnings $235,916; net $43,593; in 1884, gross $210,621; net, $1,724. B e rks hir e.-Owns from Connecticut State Line to West Stockbridge, Mass. 22 miles. Leased in perpetuity to Housatonic Railroad https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis r:n 1--3 0 a ~ r:n MAP OF THE BALTIMORE & OHIO RAILROAD AND CONNECTIONS. DECEMBER, 1885. J RAILROAD STOCKS AND BONDS. 19 Subscribers wlll conCer a great Cavo.- by giving bnmedlate notice ot any error discovered ln these Table11. 1 INTEREST OR DIVIDENDS. IBonds-Prinoi• DESCRIPTION. Miles Date Size, or pal,When Due. For explanation of column headings, &o., see notes of of Par ou"t:~1£.tg Rate per When Where P-M:i_able, and by Stock:Y-Last on fu•st page of taoles. Road. Bond8 Value. . Cent. Paya1?le om. Dividend. Boston cl Albany-Stock._ ............• .... •......... Plain bonds. coupon or registered . .. ... __ .. ....... T..oan of 1875, coup. or re~ . ........................ Bonds issued to State for its stoclr......... . .... Boston Ooncord cf; Montrnal-Old pref. stocK, guar .. Com. and new pf. stock /new pf. stock is $540,400) Sm.kin~ fund bonds ($624,000) .... . . ...... . .. . .... Consolidated mortgage bonds /for $2,000,000) .... Improvemen~ mortgage l:londs ........... _.. _...... Bost.Hoosac Tun.cf; West.-Debenture bonds . _.... _.. Boston cf; LoweU-StocJr. .................. _.. . ..... .. Bonds .... . ................................. ........ Bonds ..... _. ...... .......... .. ..........•.. - ..... - .. Bonas .................. ... ........ . . ................ Bonds ....... . ..................... . ................. - - - - ----374 - · - - - -$100 - -· 2 Q.-J. $20,000,000 ..... .... ..... ---· ·54 1885 50 68 1880 100 1,000 100 1882 1881 1884 1885 1~000 1,000 1,000 5,000,000 2,000,000 3,858,000 800,000 1,000,000 202,000 1,947,400 500.000 2,000;000 4,558,000 999,500 500,000 750,000 620,000 250,000 500,000 200,00{J 226,900 7,000,000 3,500,000 600,000 2,983,500 500.000 4,000,000 500,000 498,000 500,000 3,500,000 100 5u0 &o. 1,000 2,000,000 750,000 250,000 186 186 ---- 160 166 --·.... ---· .... 550 1872 1875 1882 ..... isss 1873 1881 1883 i872 ~~~i:: :::Lawr., ::::::::bonds :::::::........ ::::::.-.-:..::...-..: _.............. :: _.:::::::::::. Lowell .. .. .... ---........ 1875 1876 1879 1883 1885 Boston & Maine-Stock . .... _........... _•. ..• .•... .. 206 ··-· ---· ---· 1873-4 & Salem & Lowell, bonds ...... _... _............ . .... Bonds, coupon and rei:p.stered ........... _...... _.. Improvement bonds .. _................. ... ........ Boston cf; N. Y. A.'ir-L'ine-Stook, pref. (guaranteed) 1st mortgage . .... _................................. l>osum. ~ Providence-Stock ......................... Bonds to purchase branches, coupon or registered Br~01·a Bor·dell cf; Kinzua-lst mortgage ..... .... B ra ~ord Eldred cf; Guba-1st mort ............... _. B roo tyn Elevatett-lst mort ...... .. ................. 2d mortgage (for $1.51 ,0,000) . .... ...... . . ....... Brooklyn cf; Montauk-Stock ($1,100.000 is pref.) .. South Side, 1st mortgage . ......... ·....... ......... New mort. ($1,000,000}, gnar. by L. I . RR .. ,gold. ---· . "ii 54 .... ·s2 54 85 ---- ---1873 is-67 1881 1,000 1,000 ·ioo 100 100 &c. 200 &o. 1,000 1,000 100 &c. .... .... .--· ---- . ..... ... .. .... ·ioo 500 &o. .... (1) 7 6 5 219 ..6. 6&7 6 5 3 7 7 6 5 419 4 6 6 4 7 4 2 5 4 7 6 6 6 3-5 ---7 6 g, F. & A. J. & J. A. & 0. M.&N. ---- J. & J. A. &0. J. & J. M.& s. J. & J. A. & 0. M.& 8. J. & J. J. & J. M.&N. M.& S. A. &O. A. & O. M.&N. J. & J. A.·&·o. F. &A. M.&N. J. & J. J. &D. J. & J . A. & 0. ---- Bostonci 0tfioe. 0 do do Boston, Office. Bostoii; Office . do do do do N. Y., Kountze Bros. Boston, at Office. do do do do do do do do do do do do do do do do Boston, at Offi.,-,,e. do do Jan 2, Feb. 1, July 1 • April 1, Nov. 9, 1886 189Z 1895 1902 1885- .iEisg·· 1893 1911 1913 Jan. 1, 1880 April 1, 1892 March 1 , 1895 July 1, 1896 July 1, 1899 1903 Sept. 1, 1905 Oct. 1 , 1897 Oct. 1. 1898 Nov. l 6, 1885 .Tan.,1 893 & 94 1905 N.Y., N_-Y~ ·iii: Ii & H. Co . Oct. 1, 1885 do do !.905 Bostoll, at Office. Nov. 2, 1885 do do July 1, 18P3 Last paid June, 18>14. June 1, 1932 Last paid July, 1884. Jan. 1, 1932 New York. Oct. 1, 1923 1915 ··-····------------ ~--&- S. N.Y., CorbinBank'gCo. Ma°i: i·, "i 88 7 1\1. & S do do Mar. 1, 1911 Company at 7 per ct. on capital stock. $600,000. Lessors pay taxes, &o.. and for this reason the quarterly dividend due in Oct. is usually omitteil, Hoston & A.lbany.-Owns from Boston, Mass., to Albany, N. Y., 201 miles; nwnerous branches, 99 miles; leased lines, 84 miles ; total operated, 384 miles. The .Boston & Albany was formed (Dec.. 1867) by the consolidation of the Boston & Worcester and the Western rail• roads. The five per cent bonds of 1882 were issued to the State of Massachusetts in exohan~e for 24,115 shares cyf B. & A. stock held by the State, and in September, 1 883, out of this stock a stock dividend of 10 per cent was made to stockholders. Last annual report in V. 41, p . 494. Operations for four years were as followd Passenger Freight (ton) Gross Net Div. Years. Miles. Mileage. l'tfileage. Receipts. Receipts.* p. ct. 1881-2 .. 369 151,255,032 3'14,317.338 $7,790,372 $2,189.381 8 1882-3 .. 369 157,255,97L 373,535,456 8.,539,875 2,380,971 8 18~3--L . 384 167,402,441 374,317,455 8,148,713 2,362,836 8 1884-5 .. 381 167,097,784 398,86Z,v58 7,637,982 2,344,305 8 * Net receipts include income from rents. &o. -(V. 39. p. 182, 493, 241; V. 40, p. 570; V. 41, p. 190, 494, 611.) Boston Ooncord & .Montreal.-Owns from Concord, N. H., tc Woodsville, N. H., 9a miles; l>rauches-Woodsville, N. H., to Groveton Junction, 53 miles; Wing Road to Mt. Washington, 20 miles; leased Plymouth to No. Woodstock, 21 miles; total operated, 186 miles. In June, 1884, leased to Boston & Lnwell. See V. 38. p. 705. Of the sink. furnl bonds due in 1889, there are outstandmg in the hauds of other parties, $202,000, on which i11terest is paid; the trustees holding $306,000 and tlle corporation bolding $116,000 on which no int. is paid. Fiscal year ends March 31. Income account has been as follows : l<eceipts1892-3. 1883-4. 1884·5. Net earn•ngs........ ..•........... $222,544 $264,556 *$26-1,360 Other receipts..................... 20,4l:14 28,783 S,:388 miles. The Lowell & Lawrence and Salem & Lowe~ railroads were purchaRed and consolidated in 1879, and the Middlesex uentral in 1883, the Boston & Lowell assumin~ theiJ bonds. In June, 1884, a lease of the N orth. of New Hamp. and the Bost. Uon. & Montreal railroads was voted on the terms stated in V. 38, p. 70:i. and control of those roads was then assumed; but suits were commenced by some of the stockholders t<> have tbe lea'les annulled. In Jan .• 1885, purcha 0 e of an interest in Mauch. & Keene RR. was voted and $500.000 bonds autborized for the purpose. The company had notes outstanding Sept. 30 amounting t o - - - - . Earnings, etc , have b "en as follows: Gross Net ,------Paymenttt----Years. Miles. Receipts. Receipts. Rentals. Int. & misc. Div.,p.o 1881-82 ... 140 $2,085,622 $675,345 $154,808 $34'>,105 4¼ 1882-83 ... 140 2.128,761 735,302 128,613 358.509 519 18 3-84... . . 2,864,127 941,463 323,406 403,490 5¼ 188-!-85. .. . . 4,037,430 1,250,801 702,543 . ... ... 6 -(V. 39, p. 71, 20:l, '732; V. 40, p. 60,453; V. 41, p. 160, .355, 584, 653.) Boston & 1'.lalne.-Owns from Boston, Mass., to Portland, Me., 115 miles: branches, 11 miles; leased-Boston to New Hamp. State line 4 l miles; N. Hamp. State line to Maine State line 16 miles; Maine Stateline to PortJ.,1,n d :'il miles; Uonwav Junction to North Conway 73 miles; numerons short branches, 187 miles; total operated, including Ea«tern, 489 miles, lPss 3 miles leased. In March, 1 883. voted to IN1Re the Eastern RR. of Massitohusetts, but after litigation the lease was h eld to be invalid and a new one was made in December, 1884, 0 :1 the basis stated under title of the" Eastern" in this SU.P.PLEME'llT. In l!ec., 1885, leases oftbe Worcester Nashu·1, & Rochester and the Por•l ,nd & Rochester railroads f or ?iO years from Jan. 1, 18~6, were oonfirmod by vote of stockholders. The vear ends Sept. 30. The last annual repMr was in V. 41, p. 652. and the earnings imd expenses for two years of tlle com bined properties were as follows: Ope1·atio11s1883•84. 1884-85. 20l ,321,021 Total. ...... .. .•............... . $243,038 $293,339 $272,748 Passenger mileage ..•..•••...•...•....••• 198,084,721 Freight (tons; mileage............. . ... H2,597,198 114,506,044 Disbnrsen,entsEarningsInterest .....••.......•......••..... $207,4.63 $215,539 $220,936 $3,544,302 Dividends on preferred stock ..... ;,9,285 43,527 56,54-t $t~~~ 2,435,401 Pernigewassett dividends .......•. 30,IJ54 30,084. Mail, express, &o.. .. .. .. . ... .. .. . .. .. .. 248,740 252,393 Total........................... $246,748 $289,120 $307,564 Total gross earnin!:"s.. .. ... .. .. .. .... $6,'28d,419 $6,23:?,096 Balance............................ Def.$3.710 Sur.$4,219 Def.$34,816 Total opera ring expenses . . . . . . . . . . . 4, 1\36 990 4,161,006 * $250,000 of this is rental received from B. & L. RR. for 10 months. -IV. 40, p. 651.l Net earnings.. .... ............ .. ... . ..... $2,091,429 !!;2,071,090 Boston Hoosac Tunnel & Western.-Owns from Massachu• Per cent of operatin"' exp. to earnings. 66·74 66 76 setts State Line to Hotterdam (junction of N. Y. West Sh. & Buff.RR.), N. -/V. 40, p. 27,213; '7". 41, p. 527,556,584,652, 688.) Y ., 55 miles, and leases branches to Saratoga, and to Schuylerville,, N. Y., Boston & New York .&Ir Llne. -Owns from New Haven, Conn., 26 miles; total, 80 miles. ·.rhe road conn ects with the line running through tne Hoosao Tunnel. In March, 1883, all property ann right s to Willimantic, Conn., 50 miles; leased, Turnerville to Colchester, 4 west of Hoffman's Ferry (10 miles west of Schenectady) were reported miles; total operated, 54 miles. Formerly the New Haven Middletown as sold to the N. Y. W. Sh. & Buff:'. for $400,000 cash and $700,000 stock & Willimantic. A lease was made in Oct., 1882, to the N. Y.N.H.& Hartf. RR for uu years at 4 ner cent dividends per year on the pref. stock and oftheN. Y. W , S. & B.' The work of construction was done under contract by the Continental interest on the bonds; the common stock is $834,900. Construction & Improvement Co. (120 Broadway. New York), and a cir• Boston & Provtdence.-Owns from Boston, Mass., to Providence,. cular dated Aug. 4, l 883, issued by that company, after referring to the R. I., 44 miles ; branches, 20 miles; leased, Attleborough to North Attle new oontra0t for completing the road, gave the following: The Con~ borough. 4 miles; total operated, 68 miles. The company have valuable struction Company become possessed of $2,000,000 debenture bonds of depot properties in Boston. Notes outstanding September, 1885, were said Boston Hoosac TUB.nel & Western Railway Co. and $0,000,000 stock $310,000. Annual report in V. 41. p. 555. aa represented by trustees' certificates. It is also proposed to exchange · Gross NetTraffl.o Divithe stock of this company upon which 85 per cent has been paid for full Earnings. Years. Ea.ruin gs. dends. paid certificates of such stock upon the basis of 85 shares full paid stock 1882-83 •...... ···················· 1,669,134 345,579 8 352,153 for 100 shares upon wbich 85 per cent, has been paid. Thls exohan"'e is 1883-84 ........••.........•.. ·-. 1,727,147 8 not compulsory. The Construction Co. offers for sale to its stookhol'aers 1884-85 ... a. . ....... . ... .......... 1,677,066 381,326 8 who have paid up 85 per cent, the $2,000,000 5 per cent debenture bonds -(V. 39, p. 552, 580; V. 41, p. 555 .) of the Boston Hoosao Tunnel & Western Railway Co. and $4,000,0uO Bradford Hordell & Klnzua-(3•foot gauge)-Mileage 1'rom stock represented by certi:tl.oates of trustees ; and the terms of sale are Bradford, Pa., to Simpson, P a., 15 miles; Kinzua Junction to Rew City, a.s follows: Each stockholder of record on August 10 is entitled to sub• 2 miles; Rew City to Eldred, 12 miles; Simpson to Smethport, 10 miles ~ scribe upon every 50 shares held, to a block consisting of $1,000 5 per total, 39 miles. Stock Is $500,000, par of shares, $100. ln Nov.. 1885, cent debenture bond a nd $2,000 stock, at a fixed price of $650 for such bondholders were asked to subscribe 5 per cent on their bonas to resume block. The debenture bonds are redeemable at will prior to maturity payments. Gross earnings in 188-1, $69,933; net, $2,973. John J. and may be converted into mortgage bonds if any are hereafter issued. Carter, Titusville, Pa., Pres't.-(V. 40, p. 569; V. 41, p. 653.) took outstandmg Sept. 30, 1885, $6,0u0,000. In Sept., 1884, some negotiations with the Troy & Boston road took HradCord Eldred & Ouba.-Owns from Eldred, Pa., to Bolivar lace in regard to traffic wllioh were not made public. The direc• and Wellsville, N. Y., and orauoh to Richburg, and Cuba to Little· rs and ottioers of the company 1885·86 are as follows: Daniel B. Genesee, 54 miles. Stock, $480,000. There are also 2d mortga~e bondsatoh, Wm. H. Hollist.er, A. T. Smith, Rudolph Keppler, Augustus for $60,000, 6s, which were due June l, 1885. Foreclosure smt be~ ountze, David James King, Uyrus J . Lawrence, Robert B. Minturn , in February, 1885. Gross earnings in 1882·83, $91,527; net, $14,497; enry L. Morrill, Robert M. Morse, Jr., James 0. Sheldon, Francis Smith. gross in 1883·81. $96,495; deficit, $7,602. R. G. Taylor, President. has. F. Tag; Otticers-Augustus Kountze, President; John P. Kennedy. -(V. 40, p. 213; V. 41, p. 472.) ice-President. Fm: year ending Sept. 30, 188!, gross earnings were Brooklyn Elevated.-Line of road from Brooklyn Bridge via. 6t,970; net,$25,831. Broadway, &o., to East New York. This is the Brooklyn Elevated. For year ending j une 30, 1885, gross earnings were $510,235 ; aefioit, Railroad or~anize1 Oct., 1884, as successor to the Brooklyn Elevated 28,204. 1V. 40, p. 241,588, 7lti; V. 41, p. 215,216, 2'72, 586.) Railway soln in foreclosm·c May 12, 1884. The authorired capital is Hoston & Lo-well.-Owns from Boston to Lowell, 27 m.; branches - $5.000,000; the second mortgage bears 3 per cent interest till 188g and 5 per cent tbereafter. In Deo., 1885 the company advertiseo. to take alem & Lowell, 17 miles; I..owell & Lawrence, 12 miles; others, 19 · es; Middlesex Cent. and branch, 12 miles; leased-Nashua & Lowell, up the oertiflcares with CAntral Trust Co. and issue the new certificates. (V. 41, p. 101.) 5 miles; Stony Brook RR .. 13 miles; Wilton RR., 15 miles; Peter orough Railroad, 10 miles; Manchester & Keene RR., 29 miles; Nashua Brooklyn & 1'.lontauk.-Brooklyn to Eastport, L. I., 71 miles ; . cton & Bost. RR .. 21 miles; total leaseu, .Ll5 miles; total operated, 190 branehes to Fresh Pond Junction, 2 miles; to Rockaway, 9 miles; · es. Also operates B. Con. &Mon•. 186 miles, and No. of .N. Hamp., 83 total, 82 miles. This was first the South Side Railroad of Long. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ~;:;:f?r~·:::::::::::::::::::::::::::::::: :iig RAILROAD STOCKS AND BONDS. 20 [VOL XLI. Subscribers "W"ill conCer a great Cavor by giving lnunedlate notice oC any error dlscoTered In these Tables. INTEREST OR DIVIDENDS. Bonds-Priuci DESCRIPTION. Miles Date Size, or Am t pal,When Due -For explanation of column headings, &c., see notes of of Par Outs~~!hn" Rate per When Where PWiable, and by Stocks-Last on first page of tables. Road. Bonds Value. • i,, Cent. Payable. horn. Dividend. I 'Brunswick cf: Weste1·n-lst mortg. (for $3,500,000). Buff.B1·ad.<1: J>itts.-Geu. M .. (incl.10,000 ac. l'dl---· Bi![:lo New York <I: Erie-Stock·--··--···-···-··· .. st mortgage. __ .. -···--··--·- ........ ______ .. -··· iBuffalo N . .Y. <I: Phiiaclelphia-Stock, common .. __ . Stuck, preferred ......................... _... _...• _. ~lt:o~~~i~~g~l,g~_._._._._._-_-. -_·_·:. ·:_·. _·::::::::::::::::: :Consol, 1st ruor1age, gold ..•. ---··· .... ---··-··--Trust mort. , gol (secured by collaterals) . __ ... _. 'General mort/!age <for $2 !,500,000) . __ .. . _.... _.. Bu1l'. Pitts.&W., 1\1. bds (for $7,500,000coup.).--. do lstmort. (W. & F. RR.> - ·---··--· 1st l\f.(Oil Cr. RR.) renew'd, '82 .. do 1st mort. (Un. & Titusv. RR.). __ . do Consol. mort. (l'itts. T. & B.) .... do J3ttf)alo llocheste1· & l'Utsbitrg.-lst mortgage ... -·. (;onsol. mortga~e · --·· .... ·-·---··- -- -··· --·· ·-·· ... Income mortgage.--··--··--- ... --· · -- ----· __ _. --· Equipment bouds (car trust) in 3 series ___ ._._ .. _. ,Buffalo cf: Southwestern.-Stock (o:ue-half of it pref.) 1st mortgage bonds, gold __ ···--··---·--··--·- ..... Burlington O. Rapids & N orthe1-,i-Stock .. _..... __ .. "ist ·mort.gage; goici.;-gii°ar:: fi;1:"c1lia&ew.esteru: Ced. Ri. IF .& N.W,, 1 st M., g., guar.,red.aft.'90 o 1st M.,gold, guar·-···--··--····· Consol. 1st mort. & collat . trust, gold, coup. & r eg. -Cal£ior1iia Pacijic-1 t mortfJage, go1<1 ....-; .. _•. .. .. 2 mortgage, endorse<l by entral Pa,;1fio .. _____ . 3d mort., juar. by C. P. ($1,000,000 are 3 p. c.) _ -Oalifm·nia outh-Old lstM. (to be inr.ome bonds) . New mortgage ($10,000 per mile)._ •.. ___ ._ •. ____ . --- · - -----171 26 142 140 669 609 121 121 205 Ari: 274 50 38 25 120 108 258 .... 67 67 713 369 73 55 177 All 114 114 114 132 .... 1883 $500~0. $2,000,000 580,000 .... 1,000 100 950,000 2,380,000 1,000 .... 50 13,750,000 50 6,568.650 3,000,000 500 &o. 1,000,000 1878 500 &o. 1,000 7,000,000 1881 2 ,748,000 1,000 1882 3,2ou,0110 1,000 1884 4,061,000 1881 1,000 1,500,000 1865 1,000 573,000 1862 1,000 1870 500 &c. 500,000 866,000 1876 100 &c. 1,300,000 1,000 1881 3,681,000 1882 1,000 1 881 1,000 478,000 711,000 Var's 1,000 ~43,666 1:000 1,500,000 5,500,000 100 6,500,000 ' 100 &o. 1,()(>() 584,000 18 79 825,000 l,COO 1 880 1,000 1,90J,OOO 1881 4,666,100 188! l,OOO&c 2,250,00(> 1867 1,000 1,600,000 1,000 1871 3.000,000 1875 500 3,101,000 1,000 18a2 None issued . ··-· is·fo is1i i877 is76 ---· Island, which was foreclosed Sept. 16, 1874, and reorganized as the .Southern of Long Islaud. On June 3, 1879, the property was again sold in foreclosure of the second mortgage, and this company organized. The preferred stock has a preference of 7 per cent, not cumulative. It ls leased to the Lonrr [sland Railroad for 50 years at 25 per cent or the net earnings of the w'i'1ole Long [sland RR. system, including its leased lines. No rental has been reported as paid, an 1t no p11blio reports are issued. The uew mortgage tor ;j, l,000,000 was t 1>take up the first, aud balance issued for extens10n to Moriches; it is guaranteed by L. I. RR. as to interest on $750,000, and both principal and interest on the $250,-000. A. Corbiu, P1·i>.s1dent, Daniel Lord. Secretary, NMv Yo rk City. Brunswick & estern.-From Brunswick to Albany, 171 miles, and 83 miles projected to c olumbns, Ga. This was formerly the Brunswick & Albany, and the present company has $3,500,000 pref. stock, and $1,50u.ooo common. Mr. Freel. Wolife in New York and a syndicate in Frankfort were most h eavily interested. Gros.:. earnin_g-s in 1884, $308,098; net. $19,76 -L In lts83, gross, $::i38,824; net, $107,974. J. D. D a,is, President, Alllany, Ga. (V. 39, p. 23a; V. 41, p. 4t9 > Buffalo Bradford & PUtsburg.-Owns from Carrollton, N. Y. to Gilesville, Pa., 26 ill.Hes. Uompleted in 1866, and leased to New York Lake Erie & Western for 499 year . Rental, 7 per cent on outstanding bouds, $-10,GOO a year. Capital stock, $2,286,400. Buffalo Ne--,v \' ork & Erie.-Owns from Buffalo, N. Y., to Corning, N. Y., 142 miles. Leased in 1863 to the New York & Erie for 400 years, and now operated by the N. Y. Lake Erie & West. Co. Rental, $238,100-viz., 7 per cent on stock and bonds and $5,000 for organization expenses. Dividends and interest paid directly by the lessees. Buffalo Ne,v York & Phlladelphla.-A consolidation in Febiuary, 18t;3, of tlle .Hut:l'alo N. Y. & Philadelphia, the Bu1falo Pittsburg & West., Oil City & Chicago ana. Olean & Salamanaca, Mileage as follows: Buffalo Division- Bu.tl'alo, N. Y .. to Emporium, Pa., 121 miles , Larabees, Pc1., to Clerruon+., Pa.. 2~; Pittsburg Division-Buffalo, N. Y., to Oil City, Pa., 13~; Titusville, Pa., to Pioneer. Pa., 9; Mayville, N. Y., t o Chautauqua, N . Y., 312; Oil City to New Castle, Pa., 18~; Rochester D1vis1on-Rocher::ter. N. Y., to Hinsdale, N. Y., 99; Tryon ville to Union City, ltl miles; Olean. N. Y., to Bradford, Pa .• 26; :Bradford, Pa., to Kinzua. Pa., 2B; Eldred to Tarp<•rt, 18 miles ; Gene~11ee Valley Ter. RR., 2 miles; total opcrn,te<.l, 663 lniles, of which 40 mil.-s are leased. Tl.le Swaiu's Br., owned by B. N. Y . & P., is leased to L. & P. RR. The consol. mort. is for $11.000.000, of which $4,000.000 is reserved for prior liens, and it covers 205 miles of new road and the old 121 miles, and 16,000 acres of coal lands owned by the Buffalo Coal Co. Tile trust bonds due in 19;: 3 are secured by $500,000 first mort. bonds of t,h e -Genessee Valley Torruiual Co., $700,UOO of the first mort. bonds of the Olean & Sahuuauca RR.. $1,600,000 first mort. bonds of the Oil City & Chicago RR. and $300,CJOO mort. bonds of the No. West. Coal & Iron Co. In le84 the earnings proved insufficient to meet intere t , and a, proposition to bondholders was ruade, subRtantially as follows, viz.: Tilat, beginning with coup, ns due Aug. 1, 1884, the holders of each class of bonds juuior to the B . .N . Y. & r. 2ds take for the coupon s maturing at stated perio<ls, for three full years, three per cent in cash and the balance in nun-intt·rest-bearing scrip, convertible into six per cent income bond@. This was not fully accepted, and a receiver was subsequently appointed and foreclosure suits were begun. The annual report for the year ending Sept. 30, '84, was in the CHRON• ICLE, V. 40, p. 59, and contained the following income account. Gross ~arnings, $2,614,774 ; ne L earuin~s, $526,933; rentals and interest , $4-2,300; total net income, $569,233; interest on debt, $1,406,686; balance deficiency, $~67,453. (V. 40, p. 59, 150, 213, 30;:J, 305, 39J, 624, 68-1, 715; V. 41, p. L:S2,li'9, 215, 419, 438, 472, 496, 558, 653.) Buffalo Rochester & Pittsburg.-Owns from Rochester, N. Y., southward to Punxutawney in Pa., 204 miles (except 36 miles of this leased); and Buffalo Branoh frolll Ashford Juno. to Buffll,lo, 44 lniles; total, 248 mile . Leased, 46 tulles. Total operated, 294 lniles. This company was forrued in Oct., 1885 (th~ugh the organization in N . 1 . and Pa . will not be p erfectfd till Feb., 1886) , as mccessor of tlle Rochester & Pittsbnr~. sold in foreclosure Oet. 16 and p u rchased by Mr. A. I elm. The first directoe were Adrian I selin, A.dl'ian Iselin, Jr., Walston H. Brvwn, .Allred Hoosevelt, Frnderiek D. Tappen, F. O. Frent:h, .August Richard, Fn·deri<-k A. Brown, John G. Nazeu. W. H. Peckham, of New York; Geo. W. Parsons, Tarrytown; J. H. Hocart, Brooklyn; .Alex. H. Steve11s, L awrence. Seo V. 41, p. 446, 496, 516 . 'l'be pnfe, rtcd -·1 ock or the new company will be $6,000,000 and common sto<·k, $6,0 0 ,000. . The earrungs of the R. & P . for the years ending Sept. 30 were as follows: 1884-5. 1888-4. Gross earnings---·---~---·----· --·- ·$1,216.679 $1,0G9.9l3 Operat•~ expenses (not incl'g tax.es). (69·8 %) 84~,224 (73·92 %l 790,965 $367,455 ----- $278,968 -v. 40, p. 29, 241. 543, 588, 626, 764; v. 41, p.103, 273,331,421,446 , 496,516, 557,586, 722.) Buffalo & South-w-estern.-Owns from Buffalo to Jamestowu N. Y., 67 miles. Formerly theBufl'i1lo & Jamestown; reorganized in ;I.877, after foreclosure. In .July, 1880, leased to New York Lake Erie & Western for 99 vears-at 35 p er cent of gross earnings, but https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis --iig 6 7 6 6 6 6 7 6 7 7 6 6 6 g. g. g. g. g. g. 7 2 6 g. --·· 5 7 6 5 5 7 6 3& 6 ---· g. g. g. g. g. g· J. .J. J. J. & & & & J. None ever paid. J . N. Y. L. Erie & W. RR. D . N. Y. L. Erie & W. RR. D. do do Q.:.:M. Phila.orN.Y.,Co.'sOffloe Coup.due J'ly pd.in Oct. Last paid, Sept., '85. 12 paid in cash Jan. , •~5 12 paid in ca.ah riov., '84 12 paid in cash Mar., '85 ½I paid in cash Apr., '85 Aug.coup.pd.by Ph.& E. Oct. coup. paid in Den. 12 paid in c ash Jan., '85 \paid iu C'I.Sh Feb., '85 . Y., Union Trust Uo. do do do do ···Variolli! N. Y., Union Trust Co. J. & J. Q.-M. J. & J. M.&N. M.& S. A. & 0. F. &A. A. & O. J. & J. F. & A. F. & A. J. &D. .r. J. M. A.. A. A, J. J. &D. N. Y. L."itrie&·w. RR. ·&o. N. Y., Centrai-Trust Co. & S. do do & o. do do & O. do do & 0. do do & J. N.Y.,Eugene Kelly & Co & J. N. Y., Nat'l Park Banl{. .r. & J. N. Y., Cent. Paci.tic RR. J. & J. Last paid .Jan., 1883. ..... Jan. 1, Jan. 1, Deo.1, Dec. 1, 191 3 1896 1885 1916 Dec·. -26-, -is8 July 1, 1896 Dec. 1, 1908 July 1, 1921 May, 1, 1923 Mch. 1. 1924 April 1, 1921 Fe1,. 1, 1896 Apr. 1, 1912 July 2, 1890 Feb. 1, 1896 Feb. 1, 1921 Dec. 1, 1922 1921 Various. Apr. 1, 1885 July 1, 1908 i: June-. "i9o6 Sept. 1, 1909 Oct. 1, 1920 Oct. 1. 1921 April L, 1934 Jan. 1, 1887 Jan. ], 1891 .July, 1905 J:m 1, 1922 ---·-··· --········ I1885, intereRtou bonds guaranteed. R ental in 1884-135, $101,824. In January the less ee made default iu payment uuder tile l ea,ie, and suit was ,v Net earnings ___ .·- -··-- ·- ·-·- ___ .. 6 7 3¼ 7 brought. but settlement was afterward reported and 2 p er cent dividend, declared. (V, 40, p. 60.) Burlington Cedar Rapids & Nortli.ern.-On Jan. 1, '85, operated rrow .tlw·ungton, Iowa to Albert Lea, 1\'Ium. (including 11 miles leased), 253 miles; branches-Linn, Ia., to Postville, Ia., 9-1 miles; Muscatine, Ia, to Riverside, Ia., 31 miles; Vinton, Ia., to Holland, Ia. , 48 miles: Iowa Cit,y to What Utleer and to Montezuma. 73 miles; Clinton Division, 81 miles; D eoorall Division, 23 miles; lowa. Falls D ivision, 387 lnilei!; total operated, 990 miles. The fonn t-1 r c11mpany was 01•ganized as the Burlin~ton Cedar Rapids & Minn., June 30. 186-,. Defaulted ·,ov. 1, 1873. Pr->perty sola. uucler fornolourn .Juue 22, 1876, aud this company was formed by the purchasers. In Ma.y, 1~1- 5, a d eci'lion was obtained by the holder,i of olli equipment and :ld mort~ tge boncls or 1874, in the case of Simmons a ,1 rainst this company, holdin~ those b omls to be good against the roa.tl, and giving d c f,mdant~ the right to redeem the prope1·ty on paym en t of amount found tu l.>e due, whicil Ls saitl to be about $1,0\JO, uOO. The case was appealed. Bonds of the Ced:tr Rapids Iowa Falls & Northwestern road are endorsed (endor1,1ement is on the bonds); the 6 per cont bonds are redeemable at 105 after Oct. 1, 1890. Of t h e 5 per cents $-!25,00\J are reserved to r etire the 6 per cents. The . company guarantees the a).>ove bonds m entioned, and also guarantees $150,000 of .Minncap. & St. Louis bonds. rn April, 1884, for the purpose of is~uiug additional bonds for ex:tenRioos, the limit of ,mtl10rized capital stock w ,ts rahle l to 830.000,000. Tile consolidated bonds are date<.l April 1. 1884 . and L,su ,d at -~ 15,0 00 per mile tu build new road, and sec ured by first mortgage bonds on ~he roads built, depo i:ted with the tru tee of this m ,)rtga~e. The new road~ l>uilt to D ec. 3 L, 18:!4, wen~ the Cedar Rapi1ls Ji; Clinton, 8:t miles. $1,200,00o bonds; Chica .go Decorah & Minnf'so ta, ~3 mil~s. $34j,UOO bon ,Ls: and the Cedar Rapids (owu. Falls & Northwestern, Minnesota and D,.1kota Division, 3 6 miles, :l,3,0d3,0JO boud . The annual report for 1884 as publistled in the CrrRONICLE, V. 40. p 538, sai rt: " The number of wiles of 1 0 .1d o wn,11l and l eased by the company at the b egin'nin.g of the year, in••l11ding all llr mclles. was 71a ;1 -10 miles T otal number of mu.es added d ring the year, 277· 12; total number of miles operated by the comp:1ny on Dec. 31, 1884', 090<SH; isvera~e mileage operated during th year . 774. •· The extensions ot tile s everal lines w ~r e not compl, t ed in time to add materially to tlie earnings of the y ear. ThH fai ure o r tile crovs along om· lines in 188i and l~tS3 deoressed our local bu3intiss Yet the tonnage carried iu 18::!4 exceeded by 131,542 terns th e amount carried in 1 83. Hut this incrn:;1.se b eing entirely on thrnugll busine-1><, and carried at lesser rates, failed to k eep the earni11!{s up t,, tilose of . 8j .<-'' For tfn months Jrom Jan. 1, to Oct. 31, 1~85, gross earnings were $2 .513,599; against $:!,?33,877; net, $765,763, agail1st $668,192.· For 1884 tlle aunual r eport in V. 4\J, p. 5J8, ga,ve net income, &o. for fotu· years as follows : FISCAL RESULTS. Miles operated _. _. _. EarningsPas~enger . ·-· ·--·- .. Freight ___ ··-··--··~[ail, express, &c _•• Tot. ~o.<Js earnings Op'ng expen's & txs N et earnings ____ ··-· P.o. op. ex. to earn's- 1881. 6!4 $ 422,0t4 1,782,521 54,501 :t,~59,o~o 1,626,850 632,b6 72·0L 188'2. 713 $ 639 506 2,0~ t ,679 6~,497 2,800,0 j :l l .883.6•ll 9170vl (17·25 1883. 713 $ 654,746 2,1 17,949 9 1.~59 ~ .... nJ ,55 t 1,96~.177 i:s95,3i7 68·7 INCOJIE ACCOU TT. 1881. 1882. 1883. Receipts$ $ $ Net earnings .•••.••• 632,18~ 917,001 89:S,378 Other receipts _. _. . . - ---=-:c:-'-=c:-:: Total income ____ ·--DisbursementsInterest on d eb1i·-- ··· 424,562 484,624 516,130 Const'n & improvem't 198,270 71,965 l 385 ,845 } Equipment___________ 280,459 368,502 S Other expenditures.. 13,58 3 22,3 96 37, 72 v Tot.disbursem'ts 916,874 947,4~7 ~139,7110 ---:--:-;,:---:-:--:,-;;; Balance ____ ···--·----def. 225,498 sur. 47,571 sur. 4,274 sur. 251.50 -(V. 39, p. 208, 296,348; V. 40, :p. 150, 181, 183, 281, 538.) CaliCornla Pacl.ti.e.-Owns from South Vallejo, Cal., to Sacramento Cal., 61 miles; branches-Adelaute to Calistoga, 35 miles; Doer's t Knight's Landin~, 19 lniles; total operated, 113 miles. Consolidatio (Dec. 23, 1869) or California Pac. and California Pacific Extension com panies. Leased for 29 years, from July 1 , 1876, to Central Pac. Rental $600,000 per annum, and three fourths pf net earnings when in exces of t hat amount. Capital stock, $12,000,000. Extension bonds o $3,500,000 and incomes of $1,000,000 were in default) and the ne bonds of 187:"i, e-uaranteed bv Central Pacifie, were issued in plac thereof. R. P. Hanimond, President, San Francisco. California Southern.-(See mrip Atch. Top. cf: S. F.) Fro National City to Colton and San Ber.nar<.lino,_Cal., 132 lniles, was opene tj!~:~~~ 9~t~!~--9-!-~-:!-~-: DECEMBER, 1885. j RAILROAD STOCKS AND BONDS. 21 Subscribers will conCer a great Cavor by giving bnniedlate notice oC any error discovered In these Tables. DESCRIPTION. For explanation of column headings, &c., see notes on first page of tables. Oamden cf; ..4.tlantio-Stock ($880,650 of it pref.) .... 1st mortgage (extended 20 years in 1873) ..•..... 2d mortgage, extended in 1879 .................•.. Consol. mortgR.ge (thirty years) .................. Oamden cf Burlington Oo.-lst mortgage ........... . I INTEREST 0-R DlVrDENDS. 1.ll<mds-Prtno, Miles Date Size, or Amount pal.When Du& of of Par Outstandino- Rate per When Where Payable, and byl Stocks-Last Road. Bonds Value. ° Cent. Payaule Whom. Dividend. 78 78 ·--·si 404. 1st mort., interest guar. by N. Y. C. & Hud. Riv .. 404 2d ruortgai:ce, coup. or reg . . . . . . . . . . . . . .......... 4 1 14 Canadian l'aciJfo- Stock (guar. 3 p. c. div. till '93). 1,730 Canada Central RH. l st & 2d m or t. bonds . ..... .. ·--· Quebec Pio, iuo1, due ou Q. M O & 0 . RR . ... . ... ..... Land mortirn,gfl honct,-, uoltl <r ecleeruable at 110) . . 1st mort. deh"i>nt. ~tt-rlin g (tor $::35,0ll0,000) ..•... iiI: Dominion Governruent lu«n . . ... . ....•............ Carolina Uentral-lst lllortgag-e, i:cold, coup. or reg. 242 2d m01t., gold, income, r tsg., not cumulative ..... . 242 3d tco.;t, gold. income, reg., not cUIDulative ...•.. 158 Carson cf: Coio'rado-l st ruortgage ................... 158 Second Division mort .........•...•.............•. 431.g 98 Oatawissa-Coruruou stock .......................... New preferred stook ..........•........•...•. . ...•. 98 98 Old preferred stock . ..........................•..•. 1st mortga,ge ..................•........ ... ......... Mortgage bond-a .•...•......................... ···· '93 34 oa3,,·uaa "' Sus)fhamw-Stoc.1r.. ..................... 14 Oe a1· Falls cf inn.-B~ ,ts on 1st div., extended. 61 Bonds on 2d division, s1 , " Jg fund ........ . .....•. Cent1·at Branch :1 nion Pac , /i,c-lst mort., gold .... 100 Funded interest bonds ( coupons held in trust) ... 2d mortgai:ce (Government subsidy) ......... . ..... Oentral .R. R. di Bani.,, Ga.-Stock .............•.... no General mort. ''tripartite" honds, coup ...•....... 620 Certitlc'.ttRs of debt ,ror dividenil) .. ......... .. . ... .... Oanada Southern-Stock ..•..... ......•...........•. ioo --- $'>0 $1,258,050 7on pref Camden, Co.'s Ollice. Feb. 1, 1884 1,000 490,000 7 g. J .. &.J. Phila., Farm. & 1\1. B'k. Jan., 1893 1,000 497,000 6 A.. & o. do do Oct .• 1, 1904. 1.000 3 50,000 J. & J. 6 do do July 1, 1911 500&0. 350,000 F. & A. Phila .. Penn. RR. Co. 6 1897 100 15,000,000 2 F.& A. N. Y., Grand Cen. Dep. Feb. 1, 188~ 1,000 13.75«>.429 is7a 5 J. & J. N. Y .. Union Trnst Co. Jan. 1, 1908 M.& s. do do 1883 1,000&o 6,000,000 5 Mar. 1, 1913· 100 6 .1 000,000 l¼ F. & A . N. Y., 63 William St. Aug. 1 ~. 188~ --·· .... .... ............. 1.82 ' ,3 33 6 ..... 3,500,00J 5 iss"i 500&c. 3,li 88.000 5 f!. A.."&·o. Montrea.i:N: Y.orLondon oci.""i',-·i931 1885 £100&0 15.0 ,10 ,000 5 g. J. & J. London, Bariug B. & Co. July 1, 1915 !:!9,880,IJOO 4 isf.i"1 6 g. J. "J,;· J. N.Y.,Fa;mei·EiL.&T.Co. Aprii"i,"i920 1,800,000 d>OO 1881 1,000 1,200,000 6 g. J. & J. New York, Office. July 1, 19151881 1.000 1,500,000 do 6 A. & O. do Julf 1, 191 0, 1881 1,000 2,250,000 6 J. & J. ............. Jilly, 1911 1883 1,000 510.000 J. & J. ............. 6 . .... ·-· .. ... 50 1,159,500 ..3½ M."& N. Philadeiphia ·co·.'s office Nov~"i5;."i395. 50 1,000,000 2,200,000 do 50 Nov. 15, 18853¼ M.&N. 2 :W,500 Phila., Phila.& Read.Co. Fel>. 1, 1002 1882 6 1,300,000 F. & A. do 1870 500&c. 7 do Feb. 1, 1900 . .... 100 589,110 4¼ J. & J. New York, 44 South st. Jan. 1, 188 1864 500 &c. 40,000 A.. & o. N.Y., J. Ken. Tod & Co. 1 886 to 188~ 7 1866 500 &c. 1,377,000 do do J. & J. Jan. !t, 1907 7 1,000 1,600,000 M.&N. N. Yd;95 Broadway. May 1, 1895 1866 6 6:-S),000 1,000 do May 1, 1895 1879 g. M.&N. U.S. Treas., at maturity. 1896, '97, '98 '66-7-8 1,000 1,600,000 J. &·:o. 7,500,000 Savannah 0-a. 100 2 Dec. 22, 1885i872 1,000 5,000,000 7 J. & J. N.Y.,Nat.City Bk.&Sav. Jan. 1, 1893 Savannah, Ga. 1881 4.600,000 1R91 100 6 J. & J. i853 1854 1881 1867 . ... in 1882, but defaulted on tlrst ll¥)rtg,1ge inter13st due Jnly 1, 1884. ln O ctober, 188-l, an arra:1,n~eme nt was made-with Atollison Topeka & Santa Fe RR. Co., by whic h old 1frst rnMt~age oouds were to be exchanged to1· income bonds. and a new mortgage of $10,000 per mile put on the wholo road, including a new selltiun lmilt to Waterman, on tbe Mojave Division of the At. & P ., and completed about Nov., 1885. The company f'Xpects to is,m e ho th th~ incomes and new bond;1 about February or March,18 ~6. (V.3 !-+,p. 3, 47,4.92,521,5 ::.0,732; V./11,p.2!1,5 6) Caniden & Atlantic.-Owns from Camden, N. J., to Atlautic City, 60 miles: Atlantic City to Long port, 7 miles; PhU. Marl. ,'1 M ed. RR.; Haddoutiel,l to Medford, 12 miles ; total operated, 79 milee. Pref. stock, entitled to 7 pet· cent if earned, and to as high a s paid to com. 1f more than 7. On ma'. n line an l branches in 1882, gross earnmgs were $550,405; n et. $ l !W,32 1; in 1883, gross, $558,871 net, $106,t'OO; in 1884, gross, $ ,'>75,45 :-> ; net, $104.39~. Ca1nden & Burlington County .-Owns from Camden, N. J., to Pemuerton, N. J., ~3 wiles; branc ll, Burlington, N. J ., t-0 Mount Holly, 7 miles; t otal, 30 miles. Leased to Camden & Amboy Railroad Co., and now operntell by the P enusylvania Railroad Company, lessees of United Railroad & Canal Company's lines. Lease rental, $44,415, being 6 per cent on stock aud bonds, aud $500 for organization expenses. capital st,o ck $381,925 and funded debt $350,000. Dividends in January and July. Canada Southern.-LtNE OF R•Ao-Main line from International Bridge to Wiudso r , Uut., 2~6 m.; branch, Amherstburg t,l Essex Centre, 16 miles; Fvrt £rie Br., 17 llliles; Oil Springs B1·., 3 mile"; St. Thomas, Ont., to Courtright. Out., 63 miles; El'ie & Niagara, 31; Sarnia Chatllam & Erie, 7; Canada Sonth('m Brid~e & Ferry, 4; Toledo Canada Southern & Detroit, 56, and MicWgan Midland & Canada, 15; total of all lines operated, 404 miles, or which 103 miles are nominally owned by proprietary companies under separate organizations. THE COMP.A.NY, ALLIANCES, &c.-The corporation was cl1artered in Canada Feb. ii,_,, 18ll8, and the main line opened Nov. 15, 1873. Default was made, anct a reorg-anization forming the existing company was completed in 1878. lnterest on the 1st ruort. is guaranteed by the New York Central .lfaJLt·oad Cv. for 20 yAars; but the principal is not guaranteed. In Nov .. 1882, a close contract WM matle with the Michigan Central for 21 years from Jan. 1, 1883, providiug for the operation of the Canada Southern by the Michigan Central;aleo for the placing of tbe t ,1 al earning-a of both roads in a common treasm·y, out of which 1s to be p did, fi.r1:1t, ihe operating expenses of botu roads; second, the fi'l:eO char/.'- es of bot.11; tllird, tl1e division of the remainder betwee.n the two, in the rate of two-tbi ds to the M:icbig-an Central and one-third to the Canada Southern; fourth. for the rmsing of ~6,000,000 IJy a 2d mort. on the Cana<ia Southern to double-track its line, to build a bridge over Niagara River, and for other extensions and improvements. For the Yt' ar 18~-t the iucorne account of the combined companies was in tbe ammal repo • t, V. 40, p. 566, and after pa._viug 1iJ:ed charg s the surplus due Cauacla. bouthern applicable to dividends wag $~0,-t.Jc-c, agaiust $6ll,5 7, iu 1883. The bills payable /loans) Dec. 31, 1884, wt:re $1,237,339. (V. J9, p . 7:ll, 7J3; V., 40, p. 566, 7L5, 527.1 Canadian Pacific,-( See Map.J-The whole road extends from Montreal to Pon ,\lovu y on the 1' acitic coast in British Columbia, 2,t:95 mile;1, with brunci,e, and leased lines of 1,100 rnilP.s, making a total of 3,99-' miles iu the whole system, when completed. Up to Nov. 1, 1885, the wbole l ,ne w ;, 11 pra1·tic.-1ll;\T finished, but through traffic coulu not IJegin b, lore the spring of 1886. In Nov., 188::3, lease" were made of the Ontario & Quebec system, includino- the Credit \"alley Railway and T oronto Grey and Bruce, aoout 5!:IO Il.Jiles iu all, iwd the total rental is $739,500 per year, wi th brid~e facilities at .Montreal. 'l he ll· as('(l lines give a road from Montreal v1a ~'uronto to St. TLowas on the Canac.la Soutbern., aud to Owen Sound on Georg-ian Bay, wLt:1 e cv1Jutcti" n is made by steamers with the com}lanyrs western lines at Port Arthur. . This COlllJ •auy wai,. inllorvorated February 18, 1881, under a charter from the Dowiniun- of l'auada. The company had an important con tratt in itt:1 t·.llarte1·, receivmg from the Government $25,00o,OoO iu cash as a subsidy , also !tf) ,000, .100 acres of land, all tit for settlement The Governmeut al.,.o con Ve.\ ed to the company, free of all cost, 713 miles of road. TLe cow11auy ctlso acquired 449 miles of road and branl'IJ.es from Moutreul west to Callendar, sutject to $5,423,333 in liens on those roads. '.l.'l.Je author!z('d stoC'k was $100,000,000, and in Nov., 1883, the Dominion Government gave a guarantee of 3 per cent dividends pP.r annum for ten years on $65,uo, ,,ouo of the stock outstanding. In Febi:uary, 188-!, the D, ruiuion Govt-rnment moditied its agreements and loaued the company .r-i~.ooo,u, .o , taking a lien upon the railroad anct lauds of the corni,an,r, 1,1ubje1·t to the pd r llens. In May, 1885, a furth er modiii.catiu..i was ruade by wLiuh that lien was given up, and the $35,000,000 stock was can,, le,1 a1 ,d murtga.g-e l onds for $35,000,00u created. The Goverurue11t Lolfl,1 $ . 0 ,(h ,o , 110 of the~e for its loanA a " part security, and for the h , lance of $9,8~0.91:l h olds a lien on the htnds (subject only to 1Le Jau ,1 graut bu, ,d o:1 ), aud this loau, principal and interest, is payable onl y 1,ut o! the proct-ed - of land sales. 'l'll ere are ,t,-. 1 o,. , 1t..-ll w1tll the Gove rument $13,996,000 of the land grant boll(!~ (JJOt drawing iuterest), and t ll ere are outstanding ltss than $4,000,<JOO, ag-ams , wh1th are defoi-red p'ty.wents on lands soltl amounting- to $1,078,286. 'l'he bonds are recei,·able for lands and may be dl:awn and paH.l otf at 110. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ·-· ---· 00 0 0 i Gross earnings in 1884, $5,750,521; net, $1,191,891. See annual report in V. 40, p. 740. For ten montlls from Jan. 1, 1885, gross earnings w er e $6,8 24,654, against $ -:1,!58 3,597in 1884; !!.et, $~,'>;~.3 8 !, agains t i!l77-'> ,3 62 in,.l::!84-(V. 39, p. 127, 208, 381, 5o3. 6.:,4, 6~1; V. 40, n. too, 18 1, 240, 269, 363, 39 :-1, :'i4 t, 62-t, 651, 7''10, 763; v. 41, p. 22, 101, la 2, 272, 355, 391, 445,472, 527, 556, 653.) Carolina Central.-Owns from Wilmin~on, N. C.. to She:b y, N. C. 24~ miles. l<'orme rly Wilruin~ton Cha r -~ R Lir.her for l, cu,brter ad iIL 1855. Succeeded by existing company after foreclo.;; u re ~fay 3, 1873. Defaulted ..and receiver placed iu pos:iession April 5 . 18 76. S old in foreclos ure May 31, 18130, for $1,200.000. rn 188 2-8 3, gl'o s earnings,. $596,328; net, $168,47l: in l".!83 84. $555,27;>; n et. $ 3 L ~93; in 1884-3, gro, s, *5.!8,122; ne~, $7l,721. Wilmiug ton Bridga bo nd s, $315,000, at 7 p er cent, are guaranteed by this coinpan,v and inte res t pn,id. Tbe· stock of $1,200,000 was placed ror five y e ars from No v. 1 , 18 7lc!. in the hancls of the reorganization committee, but ig now all issu ed t o 2d mortgage bondholders. (V. 40, p . 684; v. 41, p. 419.) Carson & Colorado.-(3 foot gauge.J-F,·om Mound House Nev., to 0andelaria, Nev., 158 miles; .function to K eeler, Cal. , 14.l miles: total 2~ '• miles. Road follows the valleys along eastern s-i•te of Sierra. N e vada Mountains and may eventually joiu Southern Pacitlc at J:f.ojave~ Stock, $6. -, 80.040 authol'ized; $2,760.000 issued G ross earnings in lb83, $441,994; net, $196,308. H. M. Yeringt{m, Pres·t, Carson. Nev. Catawissa.-Owns fro!ll. Tamancm1, Pa., to Willia.:n qpo ·1i, Pa., 9~ mile1,; urauch, Sum1nit Statiou to :::iilver Brook, 4 mile " ; total operated, 9~ miles. Lea'led frcJm Nov. 1, lcl72, for g99 years to Phila, lelphia & Rea.diug. R e ntal, 30 per cent of gross e ~rnings and $3,00u a, year for company expenses. Funded debt is also asgumed by lesst:es. Seveu per cent is guaranteed on the preferred stocks. Cayuga & Snsquehanna.-Owns from Snsquehanna River to Ithaca., .N. Y ., 31 miles. Leased in perpetuity to Delawara Lackc1,wanna & West-ern at a rental of $54,600 a, year. Dividends on capital, 9 per cent per annum. Cedar Falls & lUinnesota.-Owns from Waterloo, Ia., to Minn. State Line, 76 miles. Leased to Dubuque & Sioux: City for 40 years from January 1, 1867, at $1,500 per mile as a minimum and a contin~ent of 35 p er cent of gross earnings h·om $3,500 to $7,500 per mile anu of 30 per cent or any excess over $7,500 per mile. The Duh. & S. C. (carrying this road) is leaserl to Ill Central tiU 18 3 7, witu option. to the lesi;ee of renewin~. Capital stock, $1,58ti,500. All operations and 0;1rnings are inclmted in Illinois Ce ntral r e pot·ts. Tue mi.nimwn rental is $113,J70 p er annum. J. S. Kennedy, Pres't, N. Y. Central Brauch Union Pacific.-( See Jfap ,1£(). Pac.)-Owns from Atcllison, Kan., to Waterville, Kan., 100 miles; leased Atchison Col. & Pac. 254 miles; Atch. J. Co. & W , a-! miles; total ope rnted, adj miles. The Un. Pac. Cent. Branch was formerly the Atchison & Pike's Peak RR.,. and was one of the roads embraced in 15he act of Congress incorporating the Union Pacitic RR. The stock is $1,000,000, of which the Union Pacific holds about $85~,700. The company received a Government subsidy of $1,600,000. Default on interest was mac.le May 1, 1873, but no foreclosure took place. It is operated as a part oftllfl MissourlPacitl.o system under a 25 years lease, made Sept., 1885, b.v which the net earniugs are paid to Union Pacific as reuta.L. (See V. 4 L. p. 419.) Fiscal. year ends Dec. 31. · In 188-l gross earnini:cs were $1,715 , 145; net, $594,171; r entals paid, $287,375; interest on debt, $140.100; miscellaneou,-, $5,709; surplus, $16 1,937. For s ev en montbs from Jan. 1 toJuly 31, 18ts5, ~t·oss ea:rniugd were :il1,0l5,3ij3, a ~ain,;t $874,756 in 18tH; net:, $J94,u39, agarnst $l7v,376. (V. 41, p. 272, ;j~l, 4.1::1. ) Central oC Georgia (& Bank). -Owns from Savannah, (}a., to. Atlanta, G-a.. 21:15 mlles; branch, G-ordon to Milledgeville, 17 miles; leased-Augusta & Savannah, 53 miles; Eatonton Branch Railroad, 22 miles; Southwestern Railroad and branches, 3-!3 miles; total operated, 730 miles; also talres net results of 170 miles more operated by separate companies. In 188 l the lease of the Georgia Rl~. for 9ll years. was taken in t he interest of this company and tile Louisville & Nashville., which operate it on joint account. The certificates of debt were issued, June, 1881, as a dividend to stockholders-$i0 per sha re to Central Georgia and $32 per share to Southwestern. The company- owns a . large interest in connecting lines and the Ocean Steamship Co. of Savannah. This company and tile Georgia Railroad Company are joint owners of the Western Railroad of Alabama, p11rchased at fol'eclosure sale in April, 1875. Thfl "tri-partite" bonds weee issued jointly by this compauy, the Macon & Western and the Southwestern. The aunua.I report for tht7 year ending August 31, 1885, was in th& CHRONICLE, V. 4.1, p. 687. '.rhe mcome account was a s follows: 18~2-8:-l. 1883-84 1384-85. Gross income ......•......... ... $4,977,k07 $4,1159,082 $3,9ll,40T Expenses . ....••.......•........ 2,lJ50,115 2,851,405 2,211,tH5 Net income . .....•.......... $~,1127,692 Interest, remalsanddividends. *l,!J82,517 _____ Surplus $45,175 $1,80-,627 1,848,491 ------ $1,699,792 l,776,3ti9- --- -- Def.$411,864 Def $76,577 * Dividend in 1882-83, B per cent; in 1883-8.Jc, 6; in l884·5, 5 p. o. -:-(V, 39, p. 653; V. 41, p. 687,) · MAP OF THE CANADIAN p ACIFIC RAILWAY .A.ND CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis DECEMBER, 1885. J RAILROAD STOOKS AND BONDS. 23 Subscribers will confer a great Cavor by giving Immediate notice ot any error discovered ln these Tables. DESCRIPTION. For explanation of column headings, &c., see notes on first page of tables. Oent.RR.&Bk.,Ga,-(Oont'd)-Ocean. 88. Co.,gu.,lst M Central Iowa-1st mortg?e .... ..................... Bonds-PrmotINTEREST OR DIVIDENDS. Miles Date -Size, or pal, When Due. Amount Rate per When of of par Outstanding Where Pifiable, and by Stocks-Last Road. Bonds Value. Cent. Payable horn. Dividend. ---· --- -------·--$ .... J. $987,000 6 iso i879 Debt certificates, issue for overdue coupons .... 1880 1st m!)rt~age, gold, Eastern Division ......•... ... i'i4 1882 Ill. D1vis1on, 1st mortgage ($1 6,000 p. m ) . ....... 95 1882 lat mort. on branches ($12,000 per mile) ......... 100 1882 Consolidated mort., gold (for -$6,748,000) ........ 501 1884 Car trust certificates .... . .......................... .... Oentrat Hassachusetts-Preferred stock .••........•. ·¥s .... 48 Comnion stock ... ..... . ............. ............... Central of New Jersey-Stock .. .. .............•..... 573 1st mortgage bonds ........................•...... 74 is69 1872 Bonds (convertible Nov., 1875 to 1877) .....•..•• . Consolidated mortgage (for $25,000,000) ..• .. .•.. "97 1874 Newark & New York. 1st mortgage ..• . ...... ..... 7 1867 Am. Dock & Imo.f',o. new M. bds., guar. C. of N. J . -·-· 1881 Adjustment mort. (redeemable any time at par) .. .... 1878 Debenture bds., conv. into stock, Jan., '85 to 1907 .... 1883 Central Oh~($411,550 of-this is preferred........ 137 ... . 1st mortg~nds ..........•..................... 137 Central Paci took ......•......................... 8,003 1st mort gold, (2 sinking funds, $50,000 each) .. 742 1865-8 50 1864 Callfor. 8tate aid, gold (s. fund, 150,000) extend. 1st m.S. Joa~n ':al. Br., gld (s.r. 50,000) ......••. 146 1870 U. 8. Loan, ( d lien on certam terms) . ... ..... .... 742 Western Pacrll..o, 1st mort., gold, (s. f. $25,000) ... 158 i869 do Government lien ......... .. ...... 123 1869 Cal. & Oregon, 1st M., gold, ~ar., (S. f. $100,000) 152 1868 Cent. Pac., mortgage. on C. O. Branch .. .. ..• ... 192 1872 20 1870 San Fran. O. & A., 1st M. (s. f. $100,000) ........... Land grant mort~a~e bonds ... . ......... ... .... ... .... 1870 Income bds.($6,000,000), skg.fd.,10 p.c.per ann'm ·-·· 1878 Conv. deben.-bds. (tor $10,000,000), coup. or reg. 1885 500&c. 500 &c. 1,000 1,0i)O 1,000 1,000 .... 3,700,000 629,000 1,515,000 1,520,000 1,200,000 (1) & J. New York. J . & J . N. Y., Mercantile Tr. Co. 7 A.. & o. 7 do do 6 g. A. & 0. Last paid April, 1884 A. & 0. Last paid April, 1884 6 A. & 0. Last paid April, 1884 6 g. J. &D. New York, Agency. g Jan. 1, 189i July 15, 1899 3 mos. notice. April 1, 1912 1912 1912 June 1, 1924 508,000 . ......... .... 3,852,088 . ... ..... . .......... .··-····· -... 3,393,900 "ioo 18,563,200 '"i½! Q.~-1'.r. New York, at office. Sept: ·i; "i884 1,000 5,000,000 F. & A. 7 do do 1890 1,000 4 ,400,000 M.&N. Last paid Ma"I", 1885 7 Nov., 1902 1,000 15,000,000 Q.-J. Oct ., 1885, pd in D ec. July 1. 1899 7 500 &c. 600,000 J. & J. New York, at Office. 7 1887 1,000 5,000,000 5 J. & J. do July 1, 1921 do 100 &c. 5,454,000 M.&N. do do May 1, 1903 7 1,000 5,000,000 M . &N. Laat paid Nov., 1881 6 May 1, 1908 50 2,859,300 J. & J. Balt., at B. & O. office. July 31, 1885 3 1,000 2,500,000 M.& S. do do 6 Sept 1890 100 59,275,500 F . & A. N. Y. & San Fra,ncisco. Feb. 1, 1884 3 1,000 25,883,000 6 g. J. & J. New York, Office. 1895to '98 1,000 499,000 7 g. J. & J. do do July 1, 1888 1,000 6,080,000 A.. & o. do do Oct. 1, 1900 g. 25,883,000 .J. & J. U. S. Treasury. 1895 to '98 6 g. J. & J. 1:000 2,624,000 New York, Office. July 1, 1899 1,970,000 U. S. Treasury. 6 1899 1:000 6,000,000 6 g. J. .&.J. New York, Office. Jan. 1, 1888 1,000 3,680,000 6 g. J. & J. ~ew York & London. Jan. 1, 1892 1,000 687,000 J. & J. N. Y., Cent. Pao. Office. July 1, 1890 8 1,000 4,903,000 6 g. A.. & o. do Oct. 1, 1890 do 1,000 3.285,000 8 g. M. &N. N. Y. and San Fran. May. '84 to '88 1,000 5,000,000 J. & J. New York. Jan., 1915 6 1 Central Io-wa.-Owns from Albia, Ia., to Northwood, Ia., 189 11865. Leased to the Baltimore & Oliio, for 20 years, Nov. 11, 1866; miles; Muchakinock Branch, 2 miles; Grinnell & Montezuma Branch, rental, 35 per cent of gross earnings. Feb. 23, 1880, the lease was 13 miles; Storey City Br., 35 miles; Newberg branch, 27 miles ; B el- extended to Dec. 1, 1926, with the option of renewing for terms of 20 mon<_l }?r3'.nC~, ~2 miles; to~al old roaq, ~88 Ill:il~s. Easte!-'n Di~ion years perpetually. Tn 1883-84 gross earnings. $1,16l:l,773; net, $376,to Miss1ss1pp1 River, 1~4 miles, and I~liJ?-Ol~ Division to feoria, 89 rrules. H3:3: rental, $409,42·'· Iu 1882-83 gross earnings $1,103,839; net, Total, 501 miles. Bridge over Miss1ss1pp1 Rh1 er at Ke1thsbm·g o pened $387,788; rental, $386,344. The road between Newark & Columbus Dec., 1885. Chartered as Central RR. or Iowa and opened m 1871. (33 miles) ts owned jointly with the Pittsb. Cin. & St. Louis RR. Co. Defaulted and placed in hands of a receiver in 1873. Reoruanized under · present title June 18, 1879, after foreclosure sale ~under h'rst mortgage Central Paclfl.c.-( See Jfap of Soitthern Paci/l,c.)-LrNE OF ROADJuly 18, 1877. -Main line-San Francisco, Cal., to Ogden,Utah, 883 miles, and auxiJThe stock is $8,076,600 common; 1st preferred, $87i ,500, and 2d prP.- iary lines, 371; total, 1,254 miles; oper. under lease or contract-the 8& • .l'.erred, $1,078,300. First preferred has prior right to 7 per cent Pac. in Cal. , A.riz. and New .Mex., 1,108; Cal. Pac., 115, North. RR., 154, (non-cumulative); then 2d preferred entitled to 7 per cent; any surplus, others,171; total, 1,3:J4 miles; total length of road operated and accounted after payment of 7 on common stock, to be divided pro rata between for Jan. 1, 1 885, 2,802 miles. In connection with the Union Pacific, the th~ three classes. Central Pacific forms a continuous line from San Francisco, Cal., to By extensions since 1880 over 300 miles of track have b een laid, and Council Bluffs, Ia. (1,918 miles), wbich was opened May 10, 1869. The Peoria, Ill., reached, and by the lower amount of bonds issued p er mile Cal. & Ore..,on line is b eing extended nortuward to a junction with on the new road, the bonded d ebt is down to a n average of $15,000 p er Oregon & Cal. at the State line, and lacks about 100 miles of completion. mile on the new and old lines too-ether. . In March, 18'3-5, it was announced that the c ~ntral Pacifl.c lines had In Oct., 1881, default was made in payment of interest; in Jan., 1885, been leased to the South,,rn Pacific Company, and that the previous lease also, the coupons were partly purchased. A plan to convert the t hree of the Southern Pacific Railroad to Cent. Pdcifl.c was r elinguished to the divisional bonds intJ con s ,tidated (V. 40, p . 423), nnd fund ceetain same comp my A minimum rental of $1.2:0,000 (payable annnally on Qoupons, was not carried out in April, 1885, but in October, 1885, the !\:lay 1), is provided for by the leas 0, but this rental is fl.est applicable to same plan m r ditled wae brought forward, by which bonds would b e the P 1yment or Central Pacific floating de ,t, H any. The lea"e was not funded into co a sols, dollar for dollar, and counons to be funded to June submitted to stockholders fo r their coufl.emation or approval. and the 1, 1886, inclusive, into said con sol. bocct at 7"' > and the coupons of new efft'ct of Lhe lease was to fix the control of Central Pacific without regard to oonsols stamped "onc•half paid" up to Dec., 1887, the other halt to b e ownership of the stock (See abs,ract of lease, V. -to, p. -180.) paid in cash as it f al ls dU P. THE CH.ARTER, LEASES, &c.-The C. P. was a consolidation (Aug. 22• The fiscal year ends D ec. 31. The income account for 1884, compared 1870) of the Central Pacific (or"'anized Oct. 8, 1864), California & with the preceding year was as follows : Oregon, San Francisco & Oaklanif: San Francisco & Alameda and San INCO:\IE ACCOUNT. Joaquin Valley railroads. The act of Congress of July 1, 1862, granted U '83. 1884. U.S. bond subsidies and lands to tne Pacific railroads; the act of July, $1,392,5t!7 $1,418 ,259 1864, made the lien of the Government subject to that of the first mort• Gross earrings . ... ..... .... .......... ..... . , $ , gage bonds, but authorized the Government to withhold one-half the 409 800 charges for t ransportation on its account, and also to reodve 5 p er cent Net earnings ............................... . $ 473 046 Deductof the net earnin(J"s; the "Thurman" act of May 8, 1878, directed that Interest on bonds ......................... .. $331,000 $121,795 the other one-bal'f of charges for Government transportation should be Interest on car trusts . ...................... 35,835 30,600 withheld, and also that the company should pay $1, 'l00,000 yearly to Miscellaneous............ .... ..... ....... . .. 8,870 1-1,603 the Government for the sinkin.O" fund of its debt or as 1n,1ch thereof as Tota.I... . ................. .......... ...... $J75,705 $ t66,998 Rhall make the J p er CP-n t of net earnings, plus the whole transportation Balance ........ . ..... ...... ........ ........ . Sur. $97,341 Def. $57,198 account, equal 25 per cent of the whole net earnings for the year. The Collections on old accounts . . . . . . . . . . • . . . . . 2 ,463 2 5 L<1 leases are numerous and mostly for short datee, anl the terms of each Net balance ............ .. .... .. ........ Sur. $99,8'04 Def. $54,684 in brief were stated in the CHRONlCLE, V. 37, p. 47. The lease of the Central Pacific was ma 1e as statet in the paragraph (V. 40, p . 92,150,240, 392, 42::J; V. 41, p. 76, '.:!41, 272,391,556, 611.) abovP., and in July, l ~85, an agreement for consolida.tion with 0 .-egon Central ot" 1'Iassachusetts.-This company wa!:I organized Jan & California RR. by an exchange of stock and gu ,i .rauty of O. & C. 10, 1883, hy the bondholctPrs who purchased the Massttohuseits Central bonds was made. (See Ore. & Cal.) at foreclosure s -ile Sept. 1, 1883. Road complctud from B oston to J efl:erSTOCK A.ND BoNDs.-Prior to the current year the following dividends son, Mass .. 48 miles. It was embarrassed and operations discontinued; but in July, 1885. a contract was n:1ade with the Boston & Lowell to were paid, viz.: In 1877, 8 p er cent; 1880, 6 per cent ; 1881, 6; 1882, 6 ; 18d3, 6; in 1884, 3. Prices of stock since 1879 have been: In 1880, operate tlle road. (V. 40, p. 304, -181, 507; V. 41, p. 22, 76.) 63W9712; in 1881. 80Ig@1027s; in 1882, 8238@9718; in 1883, 61 W88; in Central oC Ne-w ."Jerscy. -Owns from Jersey City, N. J., to Phil- 1884, 30W67:\a,; in 1885 to Dec. 18, 2612@49. Most of the issues of lipsburg, N. J., 73 miles; branches, 30 miles; leased and operated, bonds have sinking funds, as seen in the table above, but these sinking in New Jersey, 269 miles, and in Pennsylvania, 201 miles; total funds are invested maiulyin the Southeru Pacitto (of Arizona and New operated, 573 miles. The princioal leased lines in Pennsylvania are Mexico) bonds, and accumulate; and the bonds are not called in. the Lehigh & Susquehanna anu the Lehigh & LacJrawanna, with The company's sinking funds amounted Jan. 10, 1885, to $7,058,544, their branches. &c. Under the lease of 1883 to Philadelphia & Reading nearly all invested in the Southern Pacific bonns of Arizona and New the minimum rentrtl of Lehigh & Susquehanna is $1,414,400 per year Mexico and other dependent lines of thP Southern Pacific. The land and maximum $1,728,700 till 1888; then $1,885,800 till 1893, and grant bonds are retired with proceeds or land sales. after that $2,013,000. In February, 1877, the property was placed in The debenture bonds of t 8 :S5 m •tY be converted into Ce 1tral Pacific the hands of a receiver. A majority of the Lehigh & Wilkesbarre Coal stock at anytime up to 1893, at the market value of the stock at the time Company's stock is held by Central of New Jersey, and of the of surrender; but no stock will b e issued at less than 50 per cent. $11,500,000 Le.high & Wilkesbarre Coal bonds, $6,116,000 are held THE LA.ND GRA.NT.-The total land granted the Central Pacific and the by Central of New Jersey and receive interest after all other bonds California & Oregon companies was - about 12,000,000 acres, of which are satisfied. The American Dock & Improvement Company is vlr- about 1,700,000 acres had been sold to Dec. 311834. In1884, 399,021 tually owned by the railroad oomoany, and the ri~ht exists t o acres were sold for $712,473. Land contracts on hand, $1,352,934. purchase the bonds by lot at 110. The adjustment bonds are payable at Lands yet unsold, about 10,190,000 acres. will. The 6 per cent convertible debenture bonds run positively till OPERATIONS, FINANCES, &c.-The Central Pacific Railroad had a strict 1()08, and were issued Oct., 1883, partly in exchange for the old income monopoly of business in the territory occupied by it, and for many years bonds; they bear interest positively, and not "if earned." On June 1, 1883, the road was leased for 9!1 years to the Phila. & was able to coutrvl the traffic and malrn rates in that territory. The Reading RR. Co . at 6 per cent on stock and interest on bonds. In the Southern Pacific was arterwa.rds built and was extended to New Or:fl.seal year ending Nov. 30, 1884, tbe P. & R . Co., l essee, reported gross leans, taking much of the through business. The C. P. stock after payreceipts on this road of $10,441,095 ; net receipts, $4,445,980; fixed ing dividends for a few years ceased to pay after February, 1884, an.d ohar~es. $4,806,420; dividends paid under the lease, $1,113,792; d e- declined heavily; in 18d5 the road wa~ leased. as above, t o the So. Pac. For eight months, Jan. 1 to Aug . 31, '85, gross earnin~s were $9,272,:fl.cit to lessee, $1,47 -1,231. On Feb. L, 1885, d efault was made in pay• 178, against $10,302,410 iu 188c!; net, $5,410,669, against $5,122,020. ment of 1st mortgage coupons. The annual report is not issued til..i ab ::mt seven m ,mths aftee the close The following is a Rtatement of earnings and expenses on all the lines of the fiscal year. From the report for 1884 (in V. 41, p. 75) the foloperated prio1· to the lease in 1881 and 1882: lowing is compiled: · 1881. 1832. INCOl\lE ACCOUNT. Gross earnings .... ..•........ .......•..... $10,927,593 $11,312,296 Operating expenses....................... 6,152,795 6,221,221881. 1882. 1883. 2,957 3,0U 2,998 Net earnings . ....... .. ...... .. •. . .•• ..•. .. $4,774,798 $5,0UI,071 Miles operated ........••...••. Interest, rentals, etc . ........... . . . . . . . . . . 4,172,143 4,493,794 Total gross earnings .••...••... $25,662,757 . $24,744,421 $22,160,000 Receipts$ $ $ Surplus . ............................... $602,65l> $597,270 N"et earnings .................. . 4,806,428 8,560,991 8,094,150 Interest on income bonds was not charged. (V. 40, p. 119, 181, 270, Interest on sinking funds ...•. . 281,260 335,125 373,000 364,393,481, 569, 652, 716,741 v. 41, p. 23, 50, 76, 101, 160, 355, Cash from land sales . .....••.. 472,000 711,000 574,000 ~91, 419, 473.) 250,136 :.l0,485 7,236 Miscellaneous ................. . Central Ohlo.-Owns from Bellaire, Ohio, to Columbus, Ohio 5,901,564, 137 miles. Chartered in 1847 and opened in 1854. Reorganized in 9,573,736 9,010,511 Total income . •• , .•••.•• , ••• https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis .... --· . ... --·· g ---· ---- RAILROAD STOCKS AND BONDS. (VOL, .XLI. Subscribers w-ill conCer a great Cavor by giving Immediate notice oC any error discovered In these Tables. Bonds-Princi INTEREST OR DIVIDENDS. DESCRIPTION. Miles Date Size, or When Due Amount Rate per When Where Payable, an<l by pal, of Par Stocks-Last For explanation <•f column headings, &c., see notes of Cent. Payable Whom. Road. BondE1 Value. Outstanding on first page of tables. Dividend. Charleston & Savannah-1st M .. (;. & 8., guar ..... Funded int. bonds, S. & C. RR., ~uar. by S. Car ... 1st mortgage, 8ava,rwall & Char eston RR ........ G t>n eral runrtga ~e for $1,500,UOO .. ................ Oli,at•lnftc Uolmnbia <f: .A uyusta-lst mort. consol. .. 2d Mortg:ie- ....... .... ... . ....... .............. - .. Columbia. Augusta lFlt mortg-age ............•.. Con sol. mort ir. , g-o 'd (fur $3,uu0,000) .............. Vhartie,·s-l st mort!!ai:rt1 ............................ Chesapeake <f: 0/tio-l'ul'Ch. money funiling bonds ... 1st mortgage, gold, serie11 "A" ............. . .... ... do uo d o "B" .................... do f'umlin g i-0i-ip ................. , .•.. "2d mortgage, cnr. (iuteret!t in stock or cash) .. ... . 1st mortgage, gold of 19 1 1, P eninsula E xtension. 1st mort., golrl, on extension (for $:.i,000,0 .>0) .. ... Equipment trust bonds ... . . .. . ........... ..... ... (JIies. Ohio d': Southwest.-lst r.r., gold ($19,000 p. m.) 2d mortgage ($U.uOO per rufle) .. . ....... . ... ..... Padncali & Elizalwtht'n. 1.Flt, M. ($300,000 are es) Equipment trust bonds for $2,000,000 ......... ... (}h,ei,;/tire-Stoc&, 11rererred . ........ .. ............... Bonds, not mort&1;ire ............................... Ohicago ct A lion- uunon stock .................... Preferred st'ck (7 p. c. y'rly not cumulative) .... . General mortgage, sterling, for .£900,000 ........ 1st _mort al>e- . . . . . . . . . . . . . . . . . . . . . ............... . Joliet & hica,1ro, 7 per ceJ:!t, stock ................ St. Louis Jacksonville & Chic., 1st mortgage ..... do do 1st M. endorsed l>y C.& A. do do 2d M. endorsed by C. & A .. do do 2d mortgage (convertible,). La. & Mo .• 1st M. ($-1-39.100 aSSUllll:-'(! b,r c. &A.) 5 Disbursements- Interest on d e bt . .•....•.•.·...• Dividend s (6 per cent1 ....... . Land bouds r ett«>emed,andpaid U.S. and sinking fuud . . .. ..• l t-8'.?. $ 101 ioi 191 191 .... --1853 1868 1869 i869 1872 1865 1 883 1871 1878 1878 1378 $500 100 &c. 500 . - -. 500 &c. 1,000 1:000 ·23 1,000 428 1 ,000 503 l,OVO 428 100 &c. . .. ; .... 4.28 1878 100 &c. 1,0110 75 188 1 .. .. 1~q2 1,000 .... Var. 1,000 353 lH,-<l 1,000 353 1881 1,000 186 1877 1,000 1,00.> 1882 "'tii . ... 100 '76-'78 500 &c. 100 .... 850 100 322 1,000 220 1862 1,000 38 100 150 i864 1,000 37 1864 1,000 37 1868 1,000 150 1868 1,000 l.00() 101 1~70 , 850 isfa 1 88 3. $ !c8 l. $ 3,443,413 3,556,530 3,!')46.591 3,556,;'.>30 3,B78,4o7 2 ,538,680 2,324,155 2 ,137,352 Total disbursements....... 9,538,623 9,427.276 6,015, 839 Balance,. ... . . .. .. . . . .. . . .. .. sur.3 :"i, 113 def 416,76, def.lll,275 Newconstruct'n.imp'vm'ts.&c 1,549. 106 :l,169,8l>8 -(V. 39. p. 3, 21. 47, 96, l 5G. 157, 169, 181, 202, 303, 324, 3<i9,421, 434, 493, 565, 580, 693,707: V. 40, p. 119, 144, 21 ~. :36:J. '.-l6 l, 385, ' 4.24, 4 79, 508, 56U, 588, 621, 763; V. 41, p. o5, '7 5, 13:2, 3 73, 445 .) OharJe!!lton & Savanuah.-Owns tromSn.vanaall, Ua., to Charleston Junction , :::,. c ., lu • u11..h.Jis; open.i.tet:1-AsWey River brauclle , 4 milei-; Charlestou Jun<·tion to Cllar,eston. 7 miles; total, 115 miles. This was Il.rst the Charlet:1ton & Sa,vauut\U Railroad.; reori?Ituized in 1866 untler name of Savau11ail & Charleston, and opened march, 1870. Sold in :foreclosure JnnP 7. l H o. and pre$ent company org-anized. Stock:, $1,000,00 •. Earnings, gross in 1883, $406.316; deficit, $7,.">26. (n 1884, .in·oss, $,28,' 4u; net, $31,649. H.B. Piant, Presillcnt, New York. -(V. 40, p. 68 t. Charlotte Colnm.bla & A.ngnsta.-(See Mop Riehm ~ Danv.)Owns frow Cllarlottt',, N. C., to Augus ta, Ga., 191 ml.les. L eases Atl. Ttmn. ,& O. RR., Charlotte to StateRville, 44 miles; Cheraw & Chester, 29 miles; and Chester & Lenoir, 109miles. The Cllarlotte Col. &Ang. was a co1180li· dation (July 9, 1869) of the Charlotte & South Carolina aw..l the Col umbia & Augusta. The road l.J.as been under the control and muua~ement of the Richmond & Danville since 1878. None of tllc n ew bo :1ds had been is!;ned to o .. cernbe1· 15, l -;85. Gross earnm:.rs in l~tl:1-8 1, $627,854; net, $181,704; tletfo it at'tet· all interest anrl r ent;,lR, $ 74.t-i8 1. In 18!::4-85, gross earnings, $826,967; net. $36-1.,010; i,u ptu ove r all -0harges, :±'9!1,3ts5. Stock, $2,578 .000.-(V.38, p. 38'7; V, 4.0, p. 27.) Ohartlers.-Owns from Mansfield, Pa., to Washington. Pa., 23 m. Sold under tureclosure, and reor~anizcd in 1871. L eased for 99 year;;, :from January 1, 1872, to the Pittsburg Cincinnati & St. Louis; tile rental is ne.t earnings. Gross earnings in 1884, $lo l,07~; net earnings . $68,989; in 1883, gross earnings, $150,403; net, $60,'1-!8. Capital stock, $647,850. Chesapeake & Ohlo.-O wnsfromNewportNews, Va., to Big Sandy River, W. Va., 503 miles ; Old Point .runctiou to Puoel>us, 8 miles; total own ed, 511 ruileF; operates only 503 mHes. Con olidation of Virbri.uiu -Oen t ral aud Uoviu'("ton & Ohio, and opened through March 1, 1873. Tile present e-ompa.nr wai, organized m July, 187>:! ~Ls successor of the Chi's . & O., whicu was sold tllltiet· foreclosure April :.!, 1878. Tile Elizabethtown Lexini-.rton & Biir Sandy Railroad connects on the west witll the (1. & O., and exteuds to Lexington, Ky. The stocks inclwtiug scrip outstamUng were as follow~ after NOY. 1, 1885: Co1uwuu, -t ,15,i 4.-l::!5, pl'cferredstock-fl.rst, $1, 6t,'t79. secoua. $10,060,585. Tbe second mort.ga.ge CUIToncy honcls till .July, l::l84, took interestiu 2d pref. stod;:, theu for two years take partly in that stock and partly casll, and afterwards all cash, if the earning al'e su1ticient, lmt "all interei-t uot paid iu casll to be paid in :ld pref. stock." Tue bo!d el'S of first mort~age "B '' bunds cannot foreclose till s ix succ ""ive co 1pons are in def,, u1t. Th e mortgage bonds of ltl82 for $3,0U0,1.100 are ..ecu, ell on road from Newvort News to old Point C:orufort, Va., and termiua.l works; and on a brauch to be built in West Va. from Scary Creek to the Ohio Riv. FirsL pref. <'IL<•1CR has peior right to 7 p. c. from ,1ueplu ; then 2d pref. to receive. ti per ceut. Tl.le Ches. & Ohio guarantees $7.,0,0u bonds lor a grain elevator. but in ·c ase of pay ing tllern will take tl1e elevator. The full 1111.er, t1t rba• ge p e.r year m <·ash i,- :-j; t, 7~, 6 1 rn J\Iay, l>i8fi, the co_mpany offered •· to pay in cash one-half part of tbe toupou of the • B" buutlt! th••n fal 1iu>-t uue, aucl to is,me scrip :or tile re,uai uder thereof, l•a.vable out o r net earnings of the raiiwa, ~ curup,1,11y ab ,,ve expenset1 aud tixeu c1i.11·ges as they accrue, all. l.i.,us 1l I L tupaid J)ortions of roupum~ bein~ preserved a;; security for ... urh deferred interest sr•.rip a, a~rn,111st coupon holders uot acceptwg scrip, if a.Jy." The .same was dow· wit11 coupo _s of .r-iov. 1, '85. For 1en 1uU1,t ,s 110w Ja ,. 1 to Oct. 31, 1885, g,·oss eirni ngil w e r e $2,762,3 c 0, a .: !:aiust$:.l,H53/\H, in 1881; net. $797,333, aga int-1t ih92,744. 'l'he aun11r1l re port for 18 4 was in V. 4 •, p. ;'J67. Net income wa::i $1,038,8tiU; iuti-r,·i;l cllM,ge, $1,20~,65 '>: detidt, ;£1 9,790. Earnings and expeuses were as follows in 1882, 1883 and 1884: Years. Gross Earnin~s. Op'g Expenses. Net Earn'gs. 1882 ......................... $3,334,976 $:2,:·l 02.!48 it,l,0-!2,528 1883 ...................... ... 3,9(')1\,791 2,5!-l!-l,!M3 l,':!06, 58 1884. ........ .......... .. . . .. 3,538,00-l 2.499,744 l,031:l,tl60 -(V. 39, p. 181,196,264, 522.: V. 4.0, p. 61, 393,427,453, 5--11, 567, 652, 6bti; V. 41, p. 76, ltH, 491, fiJ27, 653.) Ohesapeak~ Ubio & Soutb.western.-Owns from Elizabethtown Ky., via Padu, ;:ill, to .MewphiR, Tenn., 85:t wileR; leased, Ceciliau branch of L. & N., 47 ruile,-, Total operated, 398 mil es . Tllis road forrns the western co11ue1·thrn of 1lle Chesapeake & Ohio and thfl Lexin,gtou & Big Sa. ,cty. Tue 1.11 ,1111,aIJy 1mrcllased the Memphii:; Paducall & Nol'tlleruJ>adu(·ah to Mt'., .. p11 s-a11d the l'aduc.ih .1r Elizabt'tluown, suQiect to tlle $500,01 0 ruortllai,w on the latter, HJHl leased in pprper.uity we Cecilian Branc h o Luui1:<vill e &. Naf!livi.le. from Louisville to C,·1•1Lian Ju.notion, tor$ o.n0 .J flt •r alllluw, wi;o option of purchasiug it, Of the 2d mort. }>0nds ljl7~6,000 are e.x.-convon to Aug., 1887. StJc .,;-Co.wwou, $6,030,· https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $505,000 111,800 500,000 (1) 2,000,000 500,000 189,500 Nil. 500,000 2,279,0JO 2,llthl,000 14,972 7-W 4·,0.0.,0 10, to,5,979 2,000,000 42,000 !Jlt.000 G,170,000 3,8 ,\5 ,400 500.0UO 531,000 2,100,000 sou.ooo 14,031,700 3,479,500 4,379,850 2,383,000 1,500,000 2,365,000 564,000 188,000 66,000 1.78,'l.llOO --- -6 --M.& S. Charleston, 1st N a t . Bk. 7 7 .... 7 7 7 G 7 6 6 6 M.& S. J. & J. March 1, 187? Sept. 1, 1899 J a n. 1, 1889 New York. do .&.J. J au ~·i-,-·is95 J an. 1, 191 0 J an . 1, 1890 Jul y 1, 1931 Oct. 1., 1901 July 1, 1898 July 1, 1908 July 1, 190 N. Y., Nai:·Parlc Bank . do do .J. & J. <lo do g. .J. & .J. New York Age11cy. A. & O. Philadelp, Li:-t , P,:nu l( . R. g. J. & J. N. Y., Company's offrce. g. A. &J). do Jo g. 1\1. & N. ½I May coup. pd. Ill serip J. A. dz; 0. ..6. .r. .& ..J. 6 g. A. & 0. J. & D. : g. Varioas F. &A. 5-6 F. & A. 6 6&8 F . .& A. .J. & .J . 6 112 J. & .J. J. & J . 6 2 Q . -l'!I. 2 Q.-!11. 6 g. J. & J. J. & J. 7 ll\ Q.-J. A. & 0. 7 A. & 0. 7 J. & J . 7 J. & J. 7 7 F. ~ A. N. Y. Company's Office . do do do do do do N. Y., 52 Exch' ge Place. d,> do do do do clo K eeue, N. H., Office. Boston, Bost. Nut. Bk. N. 'i ., J ol.tu .t'atou & Oo. do do Lond'n,.T .S.l'tlorgan &Co. N. Y., Johu Paton & Co. N. Y. U. s. '. rrust (;o. N. Y., John Paton &Co. do do do do do do do do Jui.i ' i"," ·i918 Jan. 1, 1911 June 1, 1922 Vadous. Feb. 1, 19U .Feb. 1, 1011 Fe b. 1, 1897 Yearly to 1892 July 10, 1885 ,Jul.v l,'96&'9 8, Dec . 1, 1885Dec. 1, 1885, July 1, 190 J; Jan .. 1893 Ja,n ., 1886 April, 1894 April 1, 1894. July, 1898 July, 1898 Aug., 1900 000, and preferred, $3.fl96,000. Gross earnings for year 188!. $1,374,641-l: ne t, $ ,H9,930 . P .•yqi.,mts-Renta.ls, $60,UOO; interest on b onds, $!57,.14 t ; total payments, $621, l 80; d e rtcit, $2-31,:229. See annual rep ,rt, V. 40, p. 563. .Fot· ten month. from J a n. 1, 1 8~ -'i, gross earnini.:-s were $1;~72.0:.!3, a~ainst ,ill,097,374 in t834; net $W3,06.?, 'lg..t.inst $2-17,772. (V. 40, p. 6l, 427, 56i, 636; V. 4.1, p. 527, 653.) Cheshlre.-Owns from South AAhburnham, Mass. to Beuv'.Vs Falls, Vt., 5! miles; leased, 1\1onadnoek Rail.road, ,Viuchendon toP eterl>oro, N H., 16 miles; and 10 miles Ven u ont & Mass; total 80 miles; but tile Monadnock, 16 miles, is not included in tile Cheshire e ,u·11iugs, leaving 61 mile;i operate:!. $ .3 1,000 rental pa.id to Vt. & "1ass. for leased portion of road. C:wital stock-common, $53,300, and. µ1•flferred, $2.1 -10.000. Gro;is rec :!ipts in 188-1-83, $JSL'l03; n et~ $213, q5ti . In 1883-34, gross ~ 11:!li,0~5; net $ ltW, 7 75; surplllS overmterest, , Pntals iLnd :'l per cent divid,..nd on p1·ef. stock was $4.5,410 i 11.t l o85, against ,t;l2,109 m 188J-84c. (V. 4.1, p. 611.) Chicago & A.lton.-LI~E OF R OAD-Joliet to East St. Louis. (main), 2--14 miles; .BranchP.S-'l'o Coal City, 30 milc8; Dwight to• Waslliugtou & Lac'n, 80 miles; Roodhouse to Louis iana, 38 miles; Upper Alton line, -~ miles. Total ownerl, 400 miles. L eased-Chicago to Joliet, 37 miles; Bloomington to Godfrey, 150 miles; Louisiana to Cedar City, 101 miles; Kansas City to Mexico, 162 :nile;i. Total leased, .t50 miles. Total operated, D ec. 31, 188!, 850 llliles. ORGANIZATIO~, LEASF.S, Srocm::s A:-.D BO~Ds.-Chartered as the Chlc-.. & l\fo1s., Feb. 27, 18-17; reorganized under aut or Jau. 21, 18."57, as Chic. Alton St. & Louis, aud unrler act of F e b. 16, 1 8 61, the presentr. corporation succeeded to the p ·operty, which was sold nuder fore. clo.,ure in the following year aud transferred to new o :ganization in. October, 1862. Chicago and St. Louis were com;i.ecte1 by tile present line in 186i. The annual m eeting is held the fir.-,t Monday in April. The Joliet & Cllicago is lea ed from January 1, 186-1, for th eterm of its cllarter, and forms pa.rt of the m:1in lin e. RcntaJ, 7" per cont ou stock. Tlle St. Louis .Jacksonville & Chicago wa~ leased in perpetuity from April 30, 1868, at a rental equal to 40 ner cent of g-ross earnings until the amount reached $700,000, with a minimum of $240,000 a year. and the company in 1 884 was merged witba Chic:t~o & Alton ant its stock exchan.ired for C. & A.. stock . (8ee V. 38, p. 455.) The Louisiana & Missouri Ri\Ter RR. is leii,sed for 1,000 ;veara1'.rom Au~ust 1, 1870. R ental, 35 p er e-ent or gross earnings, t;ut rnterest guaranteed on second mor~~a .rn bonds and preferred stock as. a,iJove; the other pref. stock is ;;il,010,000 and common $2,272,7JO;: i;ross earnmg, in 188 l. tless taxes) $665,!302 Tile Kansas City StLouis & Cllica.l(o is leased to the Cllicago & Alton company in perpetuity t't·om Nov. 1, 1877. at a ~·<.mtal of 35 p er cent of ~ross ca,rning<:1, less taxes aud assessments. The oon<ls are hel<l by U. S. Trus t Co. as securitv for the C. & .l. bond, of I 878 iss ued to build this ro~td, and a sinkin.g f und of $60,000 per annum provided for their rede mption. Should the 35 percent be more than sufficient to pay bond inte rest and 7 per cent on tile stock, the excess is to go to the lessees. '.rhe Mississippi River Bridgeis Leased in perpetuity from December 3, 1877, at a rental equal to 7 p e r cent on $300.00:) stoc k an.l 6 per ceut on -i i70U,00J bond.3. The Chic. & Alton peeferre.l stock: has prior rignt to a non-cumulativedivideud noL ex.e-eed.iug- 7 per ct. from net eat·niug:,1, aucl (atte L· pa.ymeut of 7 on common) also share;; with common in any surplus. Prices of stock have been as follows: Preferred in 18'3 l, l-10ai 1 '>3; in 1832. 130iH46; in,...883, 14.0@150; in t8..-4, J42'@152; in 18 35, to Dec. 1. . 147a1.· 2. Common in 1H81, L27aJ156; in 1882, 12712-vl4512; in 1883128ai l3714; in 18d4, ll8a>t40¼; in l885toD~c.18, H8@140. Dividends were as l'ollows p t·i,1r to the current y ar : Cu l '-377, both stocks. 712; in 187d, botll 7; in 1879, prdferee ~l 7, commou 6; in 18 30. pref. 7. com. 6½?; in 188 l botll 8; in 1882 hotll 8: in l d83 botl1 8; in 18 34. both tO, tile periods being c lrnnged from semi-::i.unual to quar terlyin May, 1884. OPERA.l'IO~S AND FCNANCES.-The Chicago & Alton road has been p'.lrticularly s trong in having a large local business between Chicago and St. Louis , so tllat it was l ess dependent on through business. which is. done at competitive rates. [ts l easerl lines are as completely controlled. as if owned, ancl the sydtem is compact . Annual r eport for 1884 was m CHRONICLE, V. 40, p. 268. 01,')erations. earnin~s . 61:c., have been as follows for four yea.rs pastF iscal year end;; D ec. 3 l. OPERATIONS AND FISCAL RESULTS. Operations1881. 1882. 1883. 1884. Passenge l's carried l,49 ,5 ,ti06 1,666, 9 91 1,803,140 1,907,496P assenger mileage .. 92,847,461.101, 150,959 106,02 ,676 119,9-!6,417" Rate ~ pass. ~ mile . l ·82::l cts. l ·95 L cts. 2· 141 cts. l ·8 Cl 9 ctsFreigllt /tons) moved 3.27 , .00-1 3 ,522,8-10 3,48~,496 3,39 :?,284-, Fr'g!Jt (tn s) m.ileage * 447,1109,977 474,823 90 54-9,3G9, 53-1. 602,768,054c Av.rate~ton~mile. 1·2U cts. 1·2 ·1 cts. 1·12'3 cts. 1·007 cts. Earnings$ $ $ ~ P assenger . .......... 1,697,542 1,973,100 2,270,379 2,278,429FreigJit . . .. . . . . . . . .. 5,54n,~1-;9 5,948, 123 6,197,681 6,073,675-1\1ail, express, &c. .•. 313,329 294,271 34~,550 357,1701• Total gro~s earnings Op er..1.tiug expenses. 7,557,7-10 4,L49,713 8,215.4.9.t 4.,4 5,881 8,810,610 4,879,958 8,70~.271 4,886,646 . Net earnings........ 3,408,027 3,729,613 P.c.of op.exp.to earn 5-1 90 54,60 ~ Does uot include company's freight. 3,930,652 3,822,628,. 56•1(), 55·3:! .DECEMBER, 18S5.] RAILROAD S1UC.KS ANlJ BONDS . Subt1crlbers ·will confer a great favor by giving bnmedlate notice of any error discovered In these Tables. Bonds-Prine!INTEREST OR DIVIDENDS. DESCRIPTION. Miles Date Size, or pal, When DuP. Amount of Par Outstanding Rate per When Where Pv7iable, and by Stocks-Last F or explanation of column headings, &c., sec notes of Road. Bonda Value. Cent. Payable horn. Dividend. on first page of tables. ---- C hie.~ .J..l.-rOont'dJ-La.&M. ,2d M. (int.gu.C.&A..) 101 La. & Mo., guar. pref. stock ................. ..... Bonds for K.C.St.L.& C. (1st mort. as collateral). i62 Preferred stock, K. C. St. L. & C., guar. C. & A .... ..... Common i-tock do . . . . . . . . . . . . . . ... .... Misslssjp1ii Riv. Bridge st'k (7 p . c. gua.r. by C &A.) .... C. &A. bu11dsonMiss. Riv. Bridge, 1st mo.l't., gold C hicago «f Allanl-ic-lst mort.. gold, $or£ ....... .. 249 2d mortgage (for $5,000,000) ................•.... 249 C hicago Hiirlingt<,n tf: Nortnern.-Stock ...... ••..••. 360 1st mortgage, redeemable at 105 ...........•. ..... 360 C hicago Biirl'inglon & (Juincy--Stock ... .....•....... 3,822 Consolidated mortuage coupon, (for $30,000,000) 825 Tru.sl mort.on Iowa lines,coup.or reg-.(s.f. 112 p.c.) 740 Bonds Denver exten. 48, (sink. fun a 2 per cent) ... .... .Southwest Div. 48, ( . f . 1 p.o.). ......... . ......... .... Debenture bond~ for Han. & St . .To. stock •. ...... --·· Northern Cross R. R. 2d. mortgage, gold ......... 100 Trust mortgage (Burlington to Peoria) ............ 96 Plain bonds (coupon or registered) ................ Bonds of 1895, (sinking fund) .......•............. "33 40 Dixon Peon a & Hannibal, 1st.} { Ottawa Oswe o& Fox Riv., 1st Coup., but ma 70 Illinois Grancf Trunk, 1st mort be registerel 44 Quincy & Warsaw, 1st mort .. 40 .5s of 1901 (sink. fund) couµ . .............•......•. 270 Quincy Alton & St. Louis, 1st mortgage, guar .. . .. 46 281 Burl.& Mo. Riv., 1st on r'd &400.000ac's Cp. do 1st M. on br.,C.B.&Q.stk.(5th scr.) or 40 do Couv. bonds, C.B.&Q.stk.(6th ser.) reg. Burl. & Mo. consol.l\f.for $14,000,000, s.f. $30,000 191 Omalla & S. W., lst 1\1., guar ... ........ 49 do Burl. & Mo. bonds. s. f. for .A tell. & Neb. RR. stock .... l'd} --- - - -------~1. & N. N.Y., .John Paton & Co . 1877 $1,000 $300,000 7 i878 -··· ..... 100 1,000 100 . ... i877 1,000 1881 1.000 1883 1,000 100 ---1885 500 &c. 100 ---· 1,000 1873 1879 1,000 1,000 188t 1881 1,000 1,000 1883 1860 ...... 1864 1,000 1872 1,000 1875 1869 500 &c. 1870 1,000 1870 500 &c. 1870 1,000 1,000 1876 1876 1,000 1863 50 &c. 1869 500 &c. 500 &c. 1878 600 &c. 1871 1,000 1880 J..000 ···· 11870 ReceiptsNet eaminiss ......•.. Other receipts ...... . INCOlIE ACCOUNT, 1881. 1882. $ $ 3,408,027 3,729,613 306,7!:11 332,547 312 F. & A. do do do do 6 ~- M.&N. Q.-F. 112 do do 312 Chic., Ill. Tr. & Sav. Bk. 7 A.·&·o. N. Y., .Toliii"Paton& Co. 6 6 g. l\1. & N. Last paid May l, 1884 6 g. F. &A. None paii.l. ---· 5 2 7 4&5 4 4 5 4 g. 7 7 5 8 8 8 8 5 5 7 8 8 6 8 4 ---· A. & 0. .--·-..... Q.-"M. Boston' and ·New York. J. & .T. N. Y., Bk. of Comm~rce . A.. & o. do do F. & A. do ao M:.& s. do do 1\1.& N. ·········· J. & .J. Frankfort. A.. & 0. N.Y., N. Bk. of Com'rce. J. & ,J. Boston, Co.'s office. J. & D. do do .J. & .T. N.Y., N. Bk. o:f' f'om'rce. J. & J. New York and Boston. A.. & o. Boston, C. B. & Q. Office .J. & J. N.Y., N.Bk.of Comm'rce A. & O. Boston, Co.'s Office. F. &A. N.Y.,Farmers' L.& T.Co. A. & 0 do do J. & .T. Boston, Co. 's Offic-e. .T. & .T . do no J. & J. do do .T. & D . do do .T. & .T . Boston, N. E, Trust Co. Nov. 1, 1900 Aug. l, 1885 May 1, 1903 Nov. 1, 1885 ~ov. 1, 1884: In 1885 Oct. 1, 1912 Nov. 1, 1920 Aug. 1,1923 Aprli·i·.--i926 Dec. 15, 1885 .TUly 1, 1903 Oct. 1, 1919 Feb. 1, 1922 Sept. 1, 1921 May 1, 1913 ,July 1, 18l:JO Oct. 1, 1890 .Tan. 1, 1896 .Tune 1, 18&~ .July 1, 1889 .July 1, 1900 Oct. 1, 1890 .July 1, 1890 Oct. 1, 1901 Feb. 1, 1896 Oct. 1, 1893 .July 1, 1894 .July 1, 1889 .July 1, 1918 .Tune 1, 1896 Jan. 1, 1910 I The C. B. & Q. on many of its branch line!'! gave a traffic guarantee of JO to 50 per cent. which was used in purchasing their bonds. The C. B. & Q. 4 per cent bonds were issued against Rep. Valley and Bur. & Col. 5 per cent bonds held in trust, and an equal amount of Rep. Valle.ystock scl"ipwasatsoissuedto subscribera to the bonds,snchscrip being- exchanged April 1, 1882, into Chicago Burlinirton & Quincy stock. The K:1,nsas City St. Jose.p11: & Council Blutrs an_d oran0hes was pm:rhased, ' $ 2:>4 mile., . and the Cine. Burl. & Q. stock 1s,iued therefor at $125 per 823 565 share, takin"' the St. .Jo. i;:tock at $72 50 p er hare. Enough of the C. B. 2~i'.2z1 & Q. consoliaated mortgage is reserved to take up prior debte. The 188-1. $ 3 822 6'>8 '279'9 s _ _ _ '.__ 4 lOl 446 4,21:'\.4~5 1883. $ 3,930,652 234,773 :-329,100 2,6:'>5,0uO 1,750,000 271,700 30 '),000 684,000 6,500,000 2,500,000 9,000,000 9,000,000 77.540,500 13,986,000 11,098,000 7,968,000 4,300,000 9,000,257 491,000 653,000 547,500 373,000 545,500 1,076,000 890,500 720,000 2,325,000 84.0,000 4,170,550 72,500 157,000 11,71.1,800 674.000 3,347.000 1 Total........ .•. 3,714.818 4,062.160 Disbii, sements$ $ $ Rentals paid........ 1,096,985 1,127,53-1 1,208,277 Construc'n,equip.,&c ,131,64-1 71,22 L 740,7a9 Interest on debt..... 762,001 761,122 700,544 ~W~~l ~~~~: Q1;;:~~y ~~:!~ i;~°c;~!f~a~eai~n~/~~l~~ 217,074 Taxes...... . . . .. . . . . l 71,tl62 198,62 t on St. Louis Rock Island & Chicago road deposited with trnstees. There l,19J,lq1 Dividends.... ....... l.077,976 1,083,080 1 6· · • are sinking funds for most of the issues of bonds. Miscellaneous... . . .. ·2s2,510 !:!7,!HO 86,963 Jol. & Clli.b'ds red'd. _ _ _ _ 306,000 LAr-.-n GRANT.-Tlle lands were obtained by the consolirlations with J,i;m.:l,71 6 Bmtington & Misso 1ri in Iowa a.nd Bul"liugton & .l \iis ouri in Nebraska. Total disbursem'ts J,77',!,,781:1 a,645,518 4 ,l-l7.80l Balance, sur. 01.· dP.f .. dP.f. f'\7,970 FIUt-.416,64:.! sur. 67,6:24 sur.232,7JO In Iowa.only l!l,133 acres remain unsold, and t!l.e contl'actti ontstandingDec. 31, '·4, were for $896,562, princi pal :mrl intere~t. In Nebraska -(V. 39, p. 202; V. 40, p. 2::il, 266.) the t otal quantity received under the g1·ant was 2.365,86-1 acres, of CWcago & Atlanttc.-Opened l\Iay 14, 1883, from Marion, O., on wnicb there had b een sold to Dec. 3't, 1 884. 2,2:17,004 acres, for line of .N. Y. l:'a. & O., to Hammond, Inll .. 249 miles, and thence over $ll,<1c71.564, an avera!!'e price of $5 t2 p er acre. The net sales for 'the Chicago & West. Tnd. to Chicag-o, 19 miles. Built as a connecting line the year 1 88 -l were 53,555 11,et·es , for $3-ll,2'iO, an average price o:f' :f'or N. Y. P. & 0. and N. Y. L. E. & W., and botll these companies guaran- $6 37 per acre. Cash receiiHs tor the year 1884 were $1, 11:16,.:135. In tee the gross earnings ou business over their roads to and from the tile assets are: C:mtracts on hand, $3,05!:l,420; interest on contracts Chic. & Atlantic. afJ security for interest on the bonds. Stock, $10,uOO,· OB ·hand, $606,552; unsold lands, 128,860 acres, estimated at $! per -000. ofwhiehlj-9 .0 :10 ,000 was deposited with H.J. Jewett. asPresirlent of acre, $515,441. N. Y. L. E. & W., iu truRt to J.wl<l and vote on it. On Nov. 1, H·84, the OPERATIO'.'iS AND FrNL''rnEs.-The Chicago Burlington & Quincy Railinten st due on 1st ruort . bonds was defaulted . Th e 2d mort!!a1re bonds were largely 1,kcl)!ecl for N . Y. Ln.lrn E. & W. loans. partly to ' Grant & road has been one of thfl mo t profitable in the country, as its numerous ,vard. In A r,riJ, 1885, the N. Y. Lake Erie & W . diverted traltic and branches tributar.v to the main line were built into choice agricultural dedined ol>Ifo:1tion to J)il,Y interest, a.ucl in this was sustaineJ by the territory, wllere t iey enjoyed a monopoly o.t' the local business at full com te. l<'orth e year end ng June :10, 18 .r,, the report to Ohio State Com- rates. Recently tlle company bas crea,tly extended its lines and inmissioner J?flY ta µro s eaniug-8 $1,346,ti,6; nt--t, $24 · ,117; rentals, $170,- creased its stock and bonds, but the l.1.tter only at 4 tn 5 per cent interest. i-ince it could borrow at the lowest rates. Tbe company gives 'i52. H.J. Jewett, President. (V. 41, p. 272,392, till, 720,) no full traffic statistics iu its report. and the mi leage of frei;.('ht and pasChicago Burlington & Northern.-Roa.d in progress from sengers is not known; but corn is the most imvortant article ca,Tied. Oregon, on the CJ1ie. & rowa RR., and Fulton, on tile O. B. & Q., in Ill, On August 1. 188"i, the C. B. & Q. stockholdera were offered the right ;ro a.jtlllrtion 11ear Savu.urn1, 111., and thenc·e up tl·e cast bank of the MisFissippi River to ~t. Paul. The road js constructed n uder C. B & Q. to take :t;,,l338,000 bonds and $4,58 ~.ooo stock of tile Chic. Bur. & No. :aus1lices. as per circular of August l, 18~5 (in CHRONICLE, V. 41, p. RR., as 1·01:ows, viz : a $500 1st mort. 5 p er cent bond and $300 in . 16IJ )1 and tbe mileaiie aud stock and bonds are a hove gi ven ns tlH'y will swek for :¥555 casll. .F or t en montlls. from .Tan 1 to Oct. 31, 18~5. the gross earnings were lJe wnen I oacl is finished. Tll e U. B. & Q. and Chi,·. & I owa give a traffic $21.908, 199, ::.gainst $21,le9,422 in 1834; net, $10,117. 345, against guarantee of one-hall' of their n et earniugs derived from bu:;ioess to aud from the(). B. & N., to be not, l P.SS than $100,000 per year, for the ptu·- $10,2·t 2,039 iN. • 884. The annual report for 1884 was published in the CHRONICLE, V. 40, p. ehase of C. B . &, N. bonds at 105; and after J 896 thfl bonds may all be 362, 451. 0!.•mparative statiSfilP,S for four years are as follows: rettred at H 15: they l>cgin to draw interest from April 1, 1886. 1881. 1882. 1883. 1884. Chicago BuJ.'llngton & Q,utncy.-LTNE OF ROAD.-The C. B. & Miles ow'd and leas'd 2,826 3,131 3,224 3,369 Q. is one ':)f th~ most complex railroad syste~s in_ the U. S. It has a net• Miles oper'd jointly. 98 98 98 98 work of lines m Ill., Iowa ~nd Neb. The roam line extends from Chic., Ill., to Burlington, Iowa. 204 miles, and thence to Pacific Junction, :.:!7o Total operated .. 2,924 3,229 3,322 3,467 miles, and from Pacific Jun e tion to D enver, Col., 577 miles, making the Earnin_ q s$ $ $ $ distance from Chicago to Denver 1,057 miles. From Pacific .Junction Passen~er ........... 3,616,086 4,756,992 5,235,839 5.339,866 to Council Bln1t's is 18 miles (trark used jointly with K. C. St. Jo. & c. Freight . ...........• 16,595,819 15,711,510 19,514.161 18,514,432 B.), making the C. B. & Q . line, Chicago to Council Bluffs, 498 miles. Mail, e.xpress, &c .••. 964.550 1,082,304 1,310,369 1,629,315 TheExtens, to D enver was opened May, 1882. Besides numerous local roads the company ali-o bas itR line in IJJiuois to East St. Louis, and to Total g-ross earnmgs. 21,171>,455 ~t,550,806 2 ti,lltJ,a69 2fl,4.oi$,6l::J Quincy, connecting with the Hannibal & St. Joseph road (purchased by Opera.ting expenses. 11.066.51-! 11,283,963 13.4!-16,479 14,090,745 C. B. & Q. in 1883) acro~s 1\-Iissouri to St. Jo~eph. The mileage reported Net earnings ........ 10,109,941 10,266.812 12,til 3,8UO 11,392.868 at the close of 1884 was :-3,46R. In addition to this the company con- P. c. of op. ex:. to earn 52·3 52·4 51·7 55·3 trols and largely owns the St. Louis Keokuk & N. W. road, 18119 miles; INCOllIE ACCOUNT. the ~ansas City St. Jo~eph & C~uncil B1u11·s, 313 miles; the Chicago Receipts$ $ $ $ Burlington & Kansas City, 153 miles; the St. Joseph & D es Moines, 50 N-et earnings.... .. .. 10,109,941 10,266,812 12,61:-3,890 11,392,868 miles; ancl a half-int€'rest with Wabash in the Humeston & Shenandoah Int. and exuh. .. . . . . . l47,6:.J8 452,498 324,180 566,769 road, 113 miles. .A.lso owns a majority of tile stouk of Hannibal & St. Net B. & M. l'd gr't.. l.170,437 1,829,725 1,595,788 1,129,591 Joseph Co., purchased in 1883, and $3,000,000 of the stock of the Chic. Total income...... 11,428,076 12,049,006 14,533,858 13,089,228 Bur. & No. takl n in 1885; whith road (C. B. &N.) will extend to St. Paul. Disbursements$ $ $ $ . ORGANIZATION, &c.-1'1160, B. & Q. was a consolidati01.1 in 1856 of the Rentals paid........ 310,668 148,771 144.506 139,604 Chic. & Aurora. and the Cent. Military Track railroads. and purchased interest on debt. . . . . 3,430,454 3,883,789 4,093,.005 4,304,284in 1860 the Northern Crc,ss RR. and in 1862 the Peoria & Oquawka road. Dividends........ . . . 4,349,286 5,023,599 5,566,484 5,566,580 The present company was a consolidation in .Tanu:1ry, 1875, of the Rate of dividends... 8 8 8 8 Cllloa;;,n Burlington & Quincy in Illinm~ and the .Burungton & Missouri Carried to sink'g: f'd. 687,'246 631,443 646,430 938,064 River in Iowa. In 1880 the Burlington & Missouri in Nebraska Transf'd to ren'al:f''d. 1,000.000 750.000 1,500,000 500,000 was absorbed. The leased l ines are practically owned and there Total disbur ements 9,777,654 10,4::$7,002 ll.~50.425 11,448,532 is no charge for rentals in the income account, except as interest on .Balance, surplus..... 1,650,422 1,611,464 2,5R3,433 1,64.0,696 bonds. Tbe ownership in the other roads above-mentioned is in the GENERAL llALANCE DECEMBER 31, 1884:. stocks and bonds thereof, and their accounts are kept separate (701 ,HsetsLiabilUiesmiles in all) . In April, 1883, the C. B . & Q. purchased the common Rai11~·d, equip't, &c .. $141,876,859 Stoe k, common ..... . $76,379,140 stock of the Hannibal & St. Joseph RR., and part of the pref. stock Stocks owned, cost . . 26,285,236 Stock, B. & M ..•.... 71,006 and paid with its $9,000,000 of 5 per cent bonds a t par. In .Aniru t, Current accounts... 7,035,349 Bonrls (see SUPP'M'T) 71,144,608 1885, tho agreement was made with tbe Chic. Bur. & No.; see cir1:ular Materials, fuel, &c.. 1,807,568 Land grnnt sink. f'd. 5,260,999 in V. 41, p. 160. The fiscal year ends Dec. 31. Annual election in April. Cash on hand . . . . . . . 3,675,432 Other sinldng funds. 3,928,465 STOCKS ,um BoNns.-Tne stock has been rapidly incr··ni:;ecl for the TL'ust's B. & M.l'dgr. 4,223,226 Contingent liabilities 6,016,000 acquisition of new lilies, and in 1380 a distl'ibution of '..tO per rent in Trust's C. B.& Q. s. fd 363,979 Income a ccount .... . 10,876,920 stock was ma.de. In April, 1 884, about $7,U00,000 t ew stonk N .Eng.Tr.Co., trust's 2,469,260 Renewal fund ..... . 7,000,000 {including the stock held in the treas try,) was offered at par Miscellaneous . • .. . . • 32,382 Miscellaneous*..... . 1,178,250 to old stockholders, being about 10 pPr cent on holdings. Prior 1o -tul:l Profit and loss ..•...• 5,913,903 current ye~r dividends were: In 1877, 9 per cent; in 1878, 1012; in Total.. .......... $187,769,291 1879, 8; m 1880, 9 14 cash and 20 stock; in 1881, 8; in 1882, 8; in Total.. •..... . ... $187,769,291 1883, 8; in 18 4. 8. The pricPs of stock hn.ve been: In L88 1, 13312@ t· Includes unchlimed dividends, unpaid accounts. pav-roll,- , &c., &c. 18212; in 1 -.. 2, 12012'<i' 141 ; in 1883, 115:l,!@l293s; in 1884, 107@12734; -(V. 40, p. 60. 92. 2:43 , 240, 321, ~51. 362,461,437,553, 665, 68'1; in 1885_, to_Dec. 18, 11512@13812. V.41,p.35, 133, 160,231,272,3!1,356,5~7 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ~~;~t~ ~? b~g il~~-1f3;is[~~u: 26 RAILROAD STOCKS AND BONDS. [ VOL. XLI Subscribers will conCer a great Cavor by giving Immediate notice oC any error discovered In these Tables. DESCRIPTION. INTEREST OR DIVIDENDS. Bonds-Prine! Miles Date Size, or --------,------:------------1pal,When Due For explanation of column headings, &c., see notes of of Par out~i~g Rate per When Where Payable, and by Stocks-Last on first page of tables. Road. Bonds Value. Cent. Payable Whom. Dividend. Ohicaqo Burlington ct Quincy-(Continued)- Nebraska consol. mort., guar.. ... . . . .. ....... . ... Republican Valley RR., sink. fw1d bonds.... .. .. Atchison & Nebraska. 1st mortgage.............. Lincoln & Northwestern RR. bonds............... Kansas City St ..lo. & C. Bl.. mortgage.. .. ..... .. Tarkio Val. and Neda way Val. mortgages . . . . . . . . Ohicago ct OcinadaS01.tthern-lst mort., goM....... Ohic. 1Jet1·oit ct Canada Gr. Trunk J1.tnction-lst M. Ohic. & East.nl.-Stock ...... .. .................. . . . . 1st M., coup. 1s. f. $20,000 after '85) . . . . . . . . . . . . . . 2d ru01't. income (non-cunrn .) conv. into consol... Consol. mort., gold (for $6,000,000)............... C. & E. Ill. Extension, 1st mortgage.. . .... ... . . .. Dan. & Grape Creek RR.- 1s t mortgage...... . . . . Ohicaqo ct Gr. Trunk-lat M., $ &- £ ($594,500 res'd) 2d mort . ........ ... . . ...... .. . . ... . ................ Northwest. Grand Trunk, 1st rnnrt.... . . . . OMcaqo <f: Great Southern--lst mort.... . . . . . . . . . . . . Ohicago <f: Iowa-1st mort., coup., may be reg..... 133 148 149 72 274 62 67 59 30l 123 123 238 14 12 330 3 30 66 76 80 i~t ~ C. ii:& ~.~ 2d mortgage C.R. & N.... ......................... . .. . Ohicago .M.itwaukee <£ St. Paulr--Com. stock ........ 4,720 Preferred st'ck (7 p . c. y'rly, not cumulative) ...... 4,720 Consolidated mortga~e /for $35,000,000)..... . ... 1,435 1st mortp;ag-e rLacroRse Div.), coup. or reg..... . . 370 1st (Iowa & Minn.) Central). ... .. Coup but{ 230 1st mort. mortgage (Minnesota may be 49 1st mortgage (Iowa & Dakota).... re!?istered 126 1st M.,fa.&Dak.Ext.($15,000 p.m.) by'"end'rse234 1st mortgage (Prairie du Chien)... ment 195 2d mortgage (Prairie du Chien)... ·· l 195 0 o1;tg;~~~ ii.":.:·::.:··:.::·.::::::::::::::: . ·····1 1877 1879 1878 1880 1877 18~0 1872 1859 1877 1877 1884 1881 1880 1880 1882 1sqo 1881 1870 1871 1S75 1875 1875 1963 1867 1864 1869 1878 1868 1868 $ 1,000 ),000 lOO&c. lOO&c. 1,000 1,000 100 100 100 &c. 100 &c. 1,000 1,000 1,000 £100&c 1,000 50 0 &c. 1,000 1,000 1,000 100 100 1,000 1,000 1,000 1,000 1.000 1,000 1.000 1 ,000 I I $385,000 939,000 1.125,000 600,000 5,000,000 734.000 2,541,000 1,095,000 3,000,000 3.000,000 113,000 2,101,000 238,000 250,000 5,405,500 fj,000,000 594 ,500 1,000,000 600,000 1,150.0GO 250,000 150,000 30,904,26t 21,540,983 11,470,000 5,279,000 3,198,000 123,000 541,000 3,505,000 3,674,000 _1,241,000 A. k O. J & J. 1\1£. & S. J . & J. 7 J. & J. J. & D. 7 lg. A. & O. 6 J. & J. M. & S. 3 6 J . & D. DP-c. 7 6 g. A. & O. J. & D. 6 M. & N. 6 6 g . J. & J. J . & J. 5 J. & J. 6 M. & :N. 6 J. & J. 8 J. & J. 8 .A. & o. 8 A. & O. 8 2¼ .A. & o. 3¼ A. & 0. J. & J. 7 J. & J. 7 7 J. & J. J. & J . 7 J. & J. 7 J. & J. 7 F. & A. 8 7·3 F. & .A. 7 6 7 7 Boston, Co.'s Office. do do do do Boston and N ew York. do do Boston. N. Y., Union Trust Co. Loudon, Eng'land. N. Y., Central Trust Co. New York. 4th Nat. Bk. N. Y., Central Trust Co. do do New York, 4th Nat. Bk. Boston, Globe Nat. Bk. New York and London. do do N.Y.. E.P.Beach.B'way. Last paid Nov., 1881. New York and Boston. do do . ........ . New ·Yorii,·offlce. do do do do do do do do do do do do do do do do do do I Oct. 1, 1896 Jan. 1, 1919 Mar. 1, 1908 Jan. 1, 1910 Jan. 1, 1907 June 1, 1920 .April l, 1902 July 1, 1884 Mar. 1, 1882 D ec. 1, 1907 Dec., 1907 Oct. 1, 1934 D ec. 1, 193 1 Mav. 1920 Jan: 1, 1900 Jan., 1922 J an. 1, 1910 Nov. 1, 1911 Jan. 1 , moo .Aug. 1, 1!)()1 July 1, 1895 0 1J t. 1, 1895 Oct. 30, 1985 Oct. 30, 18'35 July 1, 1905 1893 July, 1897 1894 1899 July 1, 1908 1898 1898 Ohlcago & Canada S~uthern-(See Map of Lake Sh01·e <f: in Minnesota, 1,058; in Dakota, 7:)4. Total miles operated, 4,qo L In .Michigan Southern).-Owns from Grosse Isle, Mich., Go J<'ayette, 0., July, 1885, took control of Fargo & South. road, 119 mlles, Fargo , Dak., 67 miles. On Nov. 1, 1879, it was transferred to the Lake Shore & Michigan Southern. It has a capital stock amountin~ to $2,667,400 and a. bonded deb_t ?f $2,541,000, and owes u::pwards of $1.,680_,000 ov:erdue coupons_.- Or1gmal cost, ,5,17!3,557. It 1s . a pa~·t of a proJected line between C~cago and D~trmt River, but failed m 1873. .Augustus Schell, President, N. Y. City. Chicago Detroit & Canada Grand .Junctlon.-Owns rrom Port Huron, Mich., to Detroit Junction, 59 miles. Opened in 1859. Leased to Grand Trunk of Canada. Earnings in 1884, $210,993; n et, $10,405; paij interest, $65,700. and dividends, semi-annually, each 2 per cent, $43,800; deficit, $99,095. Capital stock. $1,095,000. There is also a 5 per cent bond for $691,141 ii:,sued to G. T. RR. Co. The roa d is owned by ti.le lessees, but a separate organization is maintained in Michigan. Chicago & Eastern Illlnois. -(See lfap)-Owns from Dolton, Ill., to Danville, Ill., 107¼ rnHes; Covington, Ind., to Coal Creek, Ind., 9 miles: Danville to Sidell's, 23 miles: leased, Dolton to Chicago (C. & W. I.), 17 miles; Wellington Junction to Cisua Park, 13 miles: Evansville Terre Haute & C. RR., Terre Haute to Danville, Ill., 55 miles; Otter Creek to Brazil, Ind., 14 miles ; Danville, ill., to Covington, Ind., 13 miles; total operated, 253 miles. The leases of 17 miles, Dolton to Chicago, and 13 miles, Danville to Covington, am contracts for use of track over other roads. The Evansville Terre Haute & Chicago was leased M.ay 1. 1880. The Chicago & East Illinois was chartered as Chicago Danville & Vincennes in 1865, and opened in 1872 and 1873. Sold under foreclosure Feb. 7, 1877, and reor"'anized under existing style Sept. 1, 1877. In March, 1882, the U . S. Supreme Court r ever sed the decree of foreclosure of the Danville road, but granted a rehearing, on which the decree was reversed and the cause remanded. In June, 1884, the U.S. Court issued its decree confirming the t!tle to the property to the Chie. & Ea&t. Ill. RR. Co. .A consol. mortgage for $6,000,000 was authorized, of which $4,500,000 to retire prior issues. Und er tlle terms of leases the C. & E. Ill. guar. interest on $1,515,000 bonds of leased roads. INCOl\fE ACCOUNT, 1881-82. 1882·83. 1 883-84. 1s8l·85. Grossearnings....... Expenses and taxes. $ $ J,692,2G6 1,029,181 1,759,132 988,942 $ 1,560,320 897,301 1,600,143 955,545 Net earnings .... 663,08.5 770,190 662.959 64i,593 Rentals paid ... ..... . Interest on debt .... . Dividends . ..... ... . . Miscellaneous ...... . 1(9,159 227,088 89.!)31 17,715 199,668 263,774 188,750 263,781 212,427 301,ilO ·ia;sii2 21,287 Disbursernents- ·27;1s·o ---- Total disb'ments 503,893 477, 'l 04 473,818 541,6t7 Balance . surplus.... 159, lfl2 292,886 189,141 102,981 -1V. 89, p. 47,127, 157, 43-1-. •bt>l , 606. 732; V. 40, p. 150, 181, 338, 393, 480, 716; v. 41, p. 28, 330, 418, 419.) Ohlcago & Grand Trunk..-Line of road from Port Huron, Mich., to Chicago, 30012 miles; also uses 4¼ miles of Chicago & West. [ndiana and 4 miles Grand Trunk Jlmct1on RR.; total operated, a3!:l miles. This is a consolidation of roads between Port Huron and Chicago formed in April, 1880, under the control of the Gr. Trunk of Canada. It includes the former Port Huron & Lake Michig-an and the Peninsula roads, sold in foreclosure. Stock, $6,600,000 in $100 shares. The Grand Trunk of Canada gives a traffic guarantee of 30 per cent of gross earning's on business to and from the Chicago & Grand Trunk Road. Gross earnin~s for 1884, $3,178,180; n et, $762,677; surplus over intere t and rentals, $1,954; in 1883, ~oss, $ ·!,977,000; net, $717,000. For nine months from Jan. 1 to Sept. 30, gross earnings were .£406,226 in 1885, against £479,593 in 1884; net, .£53,544, against £92,556. (V. 40, p. 337.) Chicago & Great Sonthern,-F'rom F air Oaks, Ind., to Yeddo, Ind., 76 miles; consolidation 1883 of the Chic. & Gt. Southern and the Chic. & Block Coal railroads . Stock issued $1,000,000; bonds authorized, $2,000,000; issued, $1,000,000. In Nov<,mber, 1884, Mr. D. Shumway appointed receiver; Mr. Geo . U. Kimball subsaquently appointed in his place. Chicago & Io-w-a.- Owns from .Aurora, ill., to Foreston, ill., 80 miles; leased, Flagg Centre to R13lrhrd, 24 miles; total ouerated, 104 mile.a. Ch:trt'3red in 1869 and opened in 1872. In hands of a Receiver. Gross earnings for year ending Dec. 31, 1883, were $565,877; net, lf205,· 405. Gross earnings in 1884, $552,080; net, $188,759. Capital stock, $1,428,000. This road is controlled by the Chicago Burlington & Quincy and is used to connect with the Illinois Central. Ohlcago 1'Ill-w-ank.ee & St. Paul.-( See Map.)-LINE OF ROAD.The company operates a great consolidated system of railro'l.ds in Illinois, Wisconsin, Minnesota, Iowa and Dakota, which are well shown on the aocompanyin1rmap. The main through lines are from Chicago to Mil• waukee, 85 miles; Milwaukee to St. Paul and Minneapolis, via La Crosse, 341 miles; Milwaukee to Prairie du Chien, 194 miles; McGregor (opposite Prairie du Chien) to Chamberlain, D ak., on the Missouri River, 442 miles; Chicago, via Savanna, on the Mississippi River, to Council Bluffs, Ia.., 487 miles; MinneapoliR to .Aberdeen, Dak., 288 miles. On Dec. 31, 1884, the mileage in Illinois was 313; in Wisconsin, 1,230; in Iowa, 1,409; https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Ortonville, Minn. ORGANrZATION. &c.-The Milw. & st. Paul RR. Co. was organiz9d ) l a y 5, 1863, and embraced a numoer of other companies, including the Milwaukee & Mii-i;,., the Prairie du Chien, the Lacrosse & Milwaukee. ri nd otUt'l'S. The Milwaukee & st. Paul afterward purchased the St. P a.•·1 & Chicago Road ancl others, and built the line from Milwaukee to Cl.licn"'o, and on F ebruary 11, 1874, the company took its preF<ent name. The Western Union Railroad was leased in 1879 for 999 years,. The fl.'3'..lal year en els Dec. 31. The annual meeting is held early in June. STOCKS AND BONDS.-The preferred stock has a prior right over th& common stock to a dividend of not over 7 p. c. from net earn. in e.acb year, but If not earned it has no cumulative right. If, however, adi vide-nd was earned in any year and not paid, there might be a claim on futur e, yea.rs for such d ividend. After payment of 7 on pref. and 7 on com., both clacises share pro rata. Dividends paid since 1873 have been asfollows (prior to current year): In 1874, 7 on preferred paid in consol. bonds; in 1875 no dividend; in 1876, 3¼ cash on preferred and 14 per cent in bonds; in 1877, 3¼ on preferred; in 1878, 10¼ on preferred; in 1879, 2¼ on common and 7 on preferred; in 1880, 1881, 1882, 18 83 and 1884, 7 on both. The range in prices of stocks since 1877 have been: Pref. in 1878, 64@ 84~: inl879,743s@102~: in 1880, 99'@12418; in18~1, 116~'@14 0; in 1882, 11412'@1'1414; in 1883, 115@122 14; in 1884, 95 7s@119; in 1835 to D ec. 1 8, 102·@119~ Common-in 1878, 27¼@545s; in 187~, 343s@ 821s; in 1880, 6612@114~; in 1881, 101¼~129 14; in 1882, 95¼a> 12814; in 1883, 9l~cH08¼; in 1884, 5 9 14@ 9114; in 1885 to D ec. 18, 64:\i -a:9 9. or the consolidated mortgage l\onds of 1875, enough were reserved to take up the prior bonds. The latter had a sinking fund of 1 per cent p er annum, but holders may have their bonds stamped and discharged from the operation of the sinking fund. The Chicago & Pacilio We .. t ern Division bonds are issued at $20,000 per mile on new lines built or acquired. The Iowa & Minn. Div. bonds are convertible into preferred stock. Tl.le terminal bonds issued in 1884 are secured by mortgage on the terminal p :·op erty in Chicago and Milwaukee, subject to the lien of the gen eral mortgage so far as that covers these terminals. The lauds acqmred J:>y the · company nave oeen mainly closed out, and in 1833 the land grant and income bonds were issued against the land notes held. In July, 188.'i, the stock of the Fargo & Southern road was purcha,ed, and the bonds assumed. OPERATIONS, FrNANCES, &c.-The mileage and also the Gtock ft nd debt of this company increased very rapidly in four years, the miles owned being 2,359 on J anua,ry 1, 1880, against 4,'-01 on January 1, 1885, and the stock and bonded d ebt, in round figures, $69,000,000 on J a,nuary 1, 1880, against $147,700,000 January 1, 1885. The company's income d epen~s on the success of the large extent of new nnleage, on which the traffic 1s gradually built up, an l also d epends much each ye.ti· on the, sprin"'-wheat crop in the country adjacent to its lines. On March 26, 1885, the directors decided to pay 1¼ per cent semiannual dividend on the common stock instead of 3¼, and stated that-. tnere was a floating debt of $3,500,000 to be pll.id off. In Sep t., 1885,. they voted to issue $5,000,000 new pref. stock, sellin~ it to their stock-holders at par, to be taken by De0. 15, 1885. An :=tt·ticle in the CHRONICLE, V. 41, p. 432, analyzed the income· accon~t for first half of 1885. The annual report for 1884 was in V. 40,. p. 3a _•. T.l.le statmtics in detail were given in the CHRONICLE, as follows· 1881. 1882. 1883. 1884 Miles owned ......... . 4,217 4,520 4,760 4-,804OPERATIONS AND FISCAL RESULTS, Opemtions1881. 1882. 1883, 1884. Passengers ca1Tied . . 2,985,885 3,956,814 4,591,232 4,904,678 Passen ger mileage ... 137,940,086 200,790,926 235,579,660 225,851,4432·86 cts. 2·58 cts. 2·52 cts. 2·55 cts. Ra.te p er pass. p. mile. Freight (tons) moved. 4,276,088 5,127,767 5,661,667 6,023,016 Freight (tons) mil'~e.697,347,607 945,250,159 1176605032 1247737233'Av. ratep. tonp.m1le. 1·70 cts. · 1 ·48 cts. 1·39 cts. 1·29 cts. Earnings- $ $ $ $ Passenger............ 3 ,938,989 5,179,078 5,927,668 i,766,843 Frright . ... . ... . ...... 11,884,795 14,002,335 1.6 ,365,354 1 ,128,964 Mail, express, &c..... 1,201,677 1,205,313 1,366,802 1,575,191 Total gross earn'gs... 17,025,461 20,386,726 23,659,824 23 470,998· Operating expenses- Maint'nceof way*.... Maint'nce of equip't. Transp'rt't'n exp'n'st. Taxes . . . . . .. . . . . . . . . . Miscellaneous . . . . . . . $ 2,350,794 1,367,674 6,051,930 473,166 65,367 $ 2,479,429 1,999,504 7,023,918 589,613 93,609 $ 2,548,609 2,489,257 8,011,533 614,609 114,029 $ 2,339,635, 2,574,437 8,102,668 702,060 140,829· Tot. operating exp. 10,317,931 12,186,073 13,778,037 13,859,629 · 8,200,653 9,881,787 9,611,369 Net earnings . . ... . . .. 6,707,530 Pr. ct.op.ex. to earns. 60·60 59·77 58·23 59·05- * Inclndes renewal of track. t Including elevators, stock-yards, per-s ·.mal injuries and damages to property, legal, insurance, rent of ca.rs, &o... DECEMBER 1885.] https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RA.lLROAD srooKs ANDBONDS .RAILROAD STOCKS AND BONDS. [VOL. XLI. Subscribers will conCer a -great Cavor by giving ID'lmedlate notice oC any error discovered In these Tables. DESCRIPTfON. INTEREST OR DIVIDENDS. Bonds-Princi - - - - - - - - - - - - - - - - - - - - - -1 Miles Date Size, or A - - - - - - - - - - - - - - - - - - 1pa,l,When Due For explanation of column beadings, &c., see notes of of . par Out~~~~lu"' Rate per When Where Payable and by Stocks-Last on first :page of tables. Road. Bonds. V al ue. ° Cent. Pay'ble Wl1om. Dividend. - -----------------·----·1--- - - Chicago Milwaukee cf.: St. Paul-( Continued J- 1861 ~l,0 00 $215,000 Mil waukee & Western .............. }C'oup., but ( 3,804,500 St.P.&C.lst M.(Riv.D.)$&£(conv.) maybereg.J 130 1872 1:000 1872 89,000 1st mort~a11;e, Hastings & D a kota. by end'1 se- 1 7 1,0 00 1873 2,393,000 8v 1st M., Cnic. & Mil. llne . . . . . . . . . . . ment. l 2,500,000 Bonds on Lac'se &Dav. Div., for Dav. & Nw. RR. 1 8 5 _ 1879 1:000 4,000,000 1st mort. on S. W. Div. WeAtern Union RR .... -- . 2 1 2 1879 1,0 0} 3,000,000 1st mort. on Chic. & Pac. Div., Cllic. to MisR. Riv.. 119 1880 1,0 00 7,432,000 1st :mort. on So. Minnesota Div. ($9,000,000) . . . . 419 1880 23~,ooo Land ~rant income bonds.... . ..................... ---1:000 1,600,000 Land grant and income bonds ............ . . ___ . --. . . . 1883 1,0 00 7i,680,000 1st mort. on Hastings & Dakota J.J1v. extended .. 3 3 6 1~80 1,0 00 6,710.000 lat M. on Ch. Cl. D . & M. . ....... . ... . . •. . • . . . . . . . . 372 1880 1.700,000 lat mort. on Wisconsin Valley RR. . . . . . . . . • • . . . . . 107 1880 5 00 l,106,50C Prior mort. do . . . . . . . . . . . . . . . . 107 1879 1,0 00 2,840,000 1st mortgage, Mineral Point Division. .. .......... 142 1880 1,0 00 1.:360,000 1st mortga~e Chic. & Lake Superior Div.,......... 68 1881 1,0 00 4,755,000 lstM.Wis. di: Minn. Div . ($20,000 p. m.). ... . ... .. 230 18rll 1,0 00 18, c,40,000 lstM., gold, on Chic. & Pac., W. Div .. $20,000 p. m. 927 1881 1,0 00 3,000,000 T erminal mort., g-o'.d, coup. orreg.(for $5,000,000) ... . 1884 35,000 Osh. & Miss. River RR. bonds....... . ......... .... . .. . 1871 1:000 1,25-t,OOO Fargo &Sou1hern, lstmortg::, ge, gold, assumed.. 119 1883 100 31,365,900 Ohicago cf.: Northwestern-Common stock .. ......... 3 ,763 100 22.3i5,-l54 .Preferred st'ck (7 p. c. y'rly, not cumulative) ...... 3,763 1,000 12,!-JOU,000 Consol. sinking fund 1\1. ... . ;...................... 776 500 &c. 1871 2,977,!'iOO Madison extension, lat mort., sinking fund, gold. 126 1,000 1.700,00U Chicago & Milwaukee, lat mortgage . . . . . . . . . . . . . . 85 560,000 Menominee River, lat mort., guar......... . . . . . . . . 25 2,549,500 Menominee extension, lat mortgage, go la . . . . . . . . 120 1871 500&c. Gen. cons mort.. gold, coup. or reg. ($48,000,000) 1,058 1872 500 &c. 12,343,000 2,069,000 Winona & St. Peter, lat mort., guar by Cllic.&NW. 137 1870-1 1,000 1,592,000 2d mort., guar. by Chic. & N. W . 137 1870-1 1,000 do do 1st M. ext.en .. i?lrl. la.nrt ~ 1· •• R. f.. 17n 1871 100 &c. 4.080.!"iOO g is65 is76 - - - ------------1--------- 7 J. & J. N ew York OffiPe. 7 g. J. & J. London and New York. 7 .J. & J. New York, Office. 7 J. & J. do do J. & J. New York, Office. 5 6 J. & J. do do 6 J. & J. do do 6 J. & J. do do 7 J. & J . do do 7 J. & J. do do 7 J. & J. do do 6 J. & J. do do .T. & ,J. do do 6 J. & J. Boston. 7 5 J. & J . N ew York, Office. J. & J . do do 5 5 g. J . & J. do do do rlo ~ g. J. & J. J. & J . do do J. & J. no do 8 6 g . J. & J . do do 3 T. & D. New York, Co.'s Office. 3 do do Q.--:!\L 1 4 Q.--F. do do 7 7 g. A. & 0. do do .T. & J. do do 7 J. & J. do do 7 7 g. J. & D. do do 7 g. J. & D. do do J. & J. do do 7 1\1. & N. do do 7 7 !?. .J. & D. do do 1891 Jan., 1902 1902 1903 1919 July 1, 1909 Jan. 1, 1910 Jan. 1.- 1910 1890 Jan. 1, 1890 Jan. 1, 1910 July 1, 1920 July 1, 1920 Jan. 1, 1909 1910 July July Jan. July 1, 1921 1, 1921 1, 1921 1, 1914 1891 .Tan. l, 1924 Der. 24, 1885 D f'C. 24., 1885Feb. 1, 1915April 1, 1911 July 1, 1898 July 1, 1906 June 1, 1911 Dec. 1, 1902 Jan. 1, 1887 Nov. 1, 190? Dec. 1. 1916 t<, D ec. 18, 843smll534. PL'ef. in 1,-:;7~, 5!J34@79½; in 1879,76 7s'@108 1884. m 1880, l04wl4612; in 18'31, 13118'@14712 : in 188~, 136@175: in 1883, 13!'@157; in 1884, 117 it14912; in 1885 to Dec 18 11934·@139 7 s. :ti 9,611,3 69 9,881,787 8,200,653 Tlle sinkmg fund bonds of 1879 are secured by a deposit or mort .N et earningfl ........ . 6,707,530 82,307 bonds. on the new roads acquired at the rate of $15,000 per mile, and tlle 16!,707 635,308 6.!3,814 Other receipts ....... . terms under whlch these are issued were published in V. 29, p. 277. - - - - - - - - - - -----· --·----Total in_.come .. ..• 7,34:2,838 8,824,467 l 0,046,494 9,693,676 Ol' these bonds so far issued, $6,305,000 are 6s and the balan ce 5s. There are several small issues or bonds (all less thrtn $200,000 Disbursements-Interest on debt..... 4,127,389 4,786,054 5,37::l,92"\ 5,91R,608 each) in addition to tnose in the table above, viz.: Beloit & Madison Divs. on both stocks* 1,965 7~2 2,461,042 3,212,8!:)5 3,321,167 RR., :fll 76,000. 7s, due 1888; Minnesota V alley RR. , $150,000, 7s, due 1908; Plainview, $100,000, 7s, due 1908; Peuins ula Railroad (Mich.) Rate of dividend..... 7 7 7 7 Tot. disbursem'nts. o,OD3,lll - 7,2~7,096 8,586,820 9,239.775 $152,000 7s, due 1898. The $ L0,000.0,)0 debenture bonds were issued to p:w for the Chicago Balance for year..... 1.249,727 1,577,371 1,459,674 453,901 St. Panl Minneapolis & Omaha stock; ti.le sintring fund for these bonds * A portion of these dividends was stated _as payable out of the earn- is $:I00,000 per year from May, 1-<>lFl, if they can be redeemed at 105. ings of the previous year, as follows: In 1881, $973,306; in 1882. In June, 1884. the new issue of $6,0 t'0 .000 5 per cent debenture bonds $1,218,201; in 1883, $1,552,311, and in 1884, $1,660,58-1. was authorized, of wbich $1.966,500 w ent fo t· the purchase of Blair GENEUA.L BALANCE AT CLOSE OF EACH FISCAL YEAR. roads and the balance to be usP.d for· improvements as required. Any 1881. 1582. 1 883. 1834. futul'e mortgage on the property of tne company owucd at date of these bonds, t!hall rnclude them. A.sset.s-$ $ $ $ Ra.ilroad,equipm't,&c120,073,630 138,015,099 146.093,'rn5 149,4-2 R,734 LAND GRANT.-The lands of the company have been acquired by tlle St'ks&b'dsown.,cost 1,265,364 768,846 l,161 ,9t,O 1,2:28,2:3:i purchase of t h e Wiuona & St. Peter and ether roads tllat have been BiUs&acc'tsrec'vable 663,641 2,36l,2 il4 1/\50,232 1,146 ,0 9 consolidaterl. Tile CommissionerA' l'Cport foe 1884-ci5 showed that the Materials, fuel, &c. .. 1,028 ,764 1,495,113 1,223,0!3 1.483 ,365 total consideration for the lands and lot,s so 1d in that year amounted to Cash on band........ 555,200 2,9t:19,732 3,048,965 25l71,133 $588,683. Total cash receipts were $653,190. The statement of amounts m. & Iowa coallands 503,119 689,578 944,132 6:30,475 Recured to he paid to the company by outstaurling coutracts of sale in Cash due on st'k subs 1,129,215 ........ ... .... . . .... . . . force at the end of the fl.seal year showed a total of $1,121,180. Miscellaneous items.. 417,660 2f>i),061 . ... . ... . . .. . .. . TABLE OF LANDS USSOJ,D FOR. YEARS ENDI~G MAY 31. Total assets .... _... 125,636,593 146,55 !,oo::! 154,022,017 15ti,::J8o,u4ti Liabil'ities-$ $ $ · $ 1885. Name of grant. 1 883 1884. Stock, common ....... 20,404,261 27,904,261 30,901,261 30,904 ,2 61 Minnesota .......... _. . . . . . . . . . . 781,532 626,811 6%.577 44:j,296 Stock, preferred .. __ .. 14,401,483 16,447,483 16,540,983 16,540,9 83 Michigan .... . .. _... . . . . . . . . . . .. 485,ti77 4.61,8! 7 Bonds (See SUPPLM'T) 79,059,000 89,635,500 96,272,000 100,2.'\4-,0 00 Wisconsin .......... _............ 320,125 303,165 303,723 Allotherdues&acc'ts 3,899,002 4,9-13,872 1,711,099 2,093,163 Unpaid pay-rolls, &c. 2,27~,836 2,216,630 1,732,687 1,610,661 1,'.373,272 1,456,147 '!'otal.. ... . ....•••...•...... . 1,590.334 Land department . ..'. .... .... 1,787,509 1,781,907 .... . . OPEUAT[ONS, FINA~CES, &c.-The Chicago & Northwe ;tern Railw11t Income account...... 5,593,011 *3,6Hl,408 5,079,0:0 5,53 ·~. 9 'n hai;i p u rsued the polic,v of extendin_g- rapidly its lines, mcludiug those Total liabilities ... l:.!5,636,593 146,55-1,663 15:t,022,017 150,986,11;1 9 reacliing far west to Dakota, and siuce 187\J has raised its money in • $3,550,974 of income balance applied towards payment for 71, 0 19 gl'Cat part by ti.le sale of 5 per cent bonds. The stock had not been shares common stock issued to shareholders at 50 cents on the ctollar. rapidly increased until recently, by the issue of new stock for stocks o:t: -(V. 39, p. 21. 47, 8-1, 324, 363. 381; V. 40, T'. 19!'\, 213, 322. 335, 393, proprietary roads and a large nominal SUl'plus l1as been rolled up in 480,716; v. 41,p. 341, 3 t- 2, 392, 4.04, 4.19,432, 440,527,557, 65::!.) the balaure sheet; (see artide in the CnuoNrcLE, V. 3::l _p.142.) · Clllcago & N o:rtlnvester.n.--( See .lfap.}- LINE OF ROAD-The Chic The la.teRt a nnnal report (1884-85) was in tlle CHil.ONICLE, V. 41, p. & Northw. operates 3,84:~ miles of its own roads and 0ontrnlA 1,318 miles 100, aud PresMent Keep's r emarks upon the busim,ss of the year emof the Chicago St. P;,ul Minn. & Omaha, 311 miles of Fremont Elkhorn braced the followiu _g : "The falling of iu tlle geo,;;s earni ng-,- of tile year & Mo. Val., a nd 107 of Sioux City & Pac.; total controlled, 5,57!:J m iles. of $1,fi 18,568 was lar~ely otfs(•t by a r eduction in working expenses The mileage 1s extensive, and is shown clearly in the acco_m pany in _g of $1,36",356 . Tn the transportation of iron ore tl1erc was a r eductfon map. The main line from Chicago to East Omaha, Iowa, is 4l:I:.! m iles, in earuingR of $749,367, a sum wl1icb is equal to 49·34 per cent of the and this forms practically the southern boundary or the whole system, yeal''S d ecrec1se. Passenger i:aruin!a('S fell ufl' $654,960, which sum· is the company having notlling to the south of that line, with the exre i1· equal to 43· l3 per cent of the whole decreas r.'i tion of a few inF-ignificant branches. At the end of the fiscal year, May 'l'lle following were the earnings, expenses, &c.: 31, 1885, the Cl1ic. & Nortl1western mileage was made up in the annui;tl OPERATIONS AND FISCAL RESULTS. report as folio~~ ::Wiscom,in _Division, 555 D?-il_e~; Galena pivision, _32-! miles; Iowa D1v1s10n, 743 miles; No. Iowa D1V1s1on, 370 miles: Madison 1884-85. 1881-82. 1882-83. 1683-84. Division, 483 miles ; Peninsula Division, 376 miles ; Winona & St. P eter Tot. miles oper'd 3,843 3,278 3,58! 3,763 Division, 448 miles; Dakota Division, 542 miles; total, 3,8 !3 miles. In <Jper·ut·i onsJuly, 1 88 4, the BlairroadA, previously ~eased.were acquired by purch a se, Pasa'gera carr'd. 6,754,717 7,968,560 8,623,483 8,403,884; but the Sioux City & Pacific and Frewont Elkhorn & Missouri Valley are Pass germileage 205,574,178 218,8 .') 6,303 236,386,389 231,090,788 operated separately (41S miles) and theit- earnings not included in t llo;;e R'te p.pass.p.m. 2·52 eta. 2·46 eta 2·40 etA. 2·38 ct8. or C. & N. W. for 1834.-85. but separatt-ly stated in the aunu2.l re_port in Fi·'ght (tni,) mv'd 8,190,8H3 7,874,665 8,453,991 8,235,127 the CHRONICLE OD P- 101 of v. 41. , F'r ght (tns) m'gell 92,188,039 1183,82\:1,3-> 8 1350,173,773 1416,789,205 1·47 cts. 1·42 eta. 1·31 eta 1-19 cts. ORGANIZATION, &c.-The Chicago St Paul & Fond-du-Lac Railroad Ratepr.toup.m. which was a consolidation of several roads, was sold in foreclos ure Ea1·n·i ngs$ $ $ $ June 2, 1859, ancl the Cbica~o & Northwestern Railway was or:ranized Passenger. .. .... 5,171,423 6,119,616 6,153,071 5,498,111 a& its successor. In 1864 me company absorbed the Dixon Roc k. & Freight......... 17,525,13! 16,89-l,352 17,677,866 16,917,391 Kenosha, the Gal. & Chic. Union and the Penins ular RR. of Miclli:ran, Mail, express,&c 988,099 1,067,-367 1,189.687 1,086,551 and has since absorbed by consolidation a large number of other r oads, including those which were operated a,s "propriP.tary roads," and this 23,502,0~6 25,020,t:124 24,081,835 Tot.g'r,:; earns. 23,68-1,656 process wrn go on till all those roA di;i are absorbed into the main company. $ Expenses$ $ $ In Decemt>er, 1~82, a controlling interest was acquired in the stock ot 2,93d,2">3 3,590,917 3,571, t19 3,37:L,99 l of way the Chic. St. Paul Minneapolis & Omaha Co. by the purchase gf 53,800 Maiut'ce 2,193,224, 1,786.14() 2,4L8,297 2,322,099 " cars,&c snares of preferred and ~3,200 shares of com. stock. 7,970,502 8,4·29,12l 6,7;16,517 7,758.ti38 l'ransp. & mi.,cel In July, 1884, tlle leased lines in Iowa (Blair roads ) were acqu ir ed 6Y0,928 672,621 522,558 618,785 on the terms stated in the SUPPLEMENT of .June, 1885, and prior issuea. Taxes .•••....... The fl.seal year ends May 31. The annual m eeting is held eal'ly in June. 13,793,907 15,140,956 Total ........ . 12,639,634 · 14,072,516 STOCK AND Bmms.--Of the cominon stock. $10,006,300 was held in 9,708,149 9,879,668 10,009,319 11,045.022 the comnany's treai,ury on !riay 31. 18.:i5. and i'I presumably held there Net earnings ... . 58·69 60·51 53 37 58·44 still, m ll king tl1e whole common stoC'k listed at the Stoek Excb auge P.c. exp. to earn. $41,257,700. Preferred stock has prior right to 7 per cent; then INCOME ACCOUNT. common entitled to 7; then preferred haR a further prior right to 1~84·85 1883-84. 1881-82. 1882-83. 3 pe1 cent; then common to 3; then both classes share. But the pre$ $ Receipts$ $ ferred stock bas not yet received more than 8 p er cent in any year, 9,70~.149 9,870,668 Net ea,rnm_gs . . .. 11,045,022 10,00H,319 against 7 per cent paid on the com mon. Dividends sine~ 1 8 7,> (prior to $ $ Disbursements$ $ the current year) have \Jeen: In 1876, 212 on pref.; in 18"i7, 312 on pref.; .. 28,567 1,568.704 1.569,618 1,570,948 in 1878, 7 on pref. and 5 on com.; in 187::J; 7 on pl'ef. and 5 on com.; Rentals _r,aitl.. . . *5,()6-1,534 4.5~7.i~:'i :~.999,'204 4,2-<8.f-l'.~3 in 1880. 7 on pl'ef. and 6 on com.; in 188 l, 7 on pref. and 6 on com.; in rnterest on debt *3,981,348, 2,939,469 2,586,637 2,890,337 1882, 734 on pL·er. and 7 on com.; in '-"!3 and '84. 7 on com. and 8 on pre:t. u1 \"ideuus .. . ... . Prices of stock since 1877 ba,·e been as follows: Common in 1878, * On absorption or Iown. leased lines, rentals aea,scd ancl interest and 3212@5514: in 1879, 496s7i,!H½: in 1 1:l,..0, 871sitl30; in 188 1, 117'@H : in 1832, 124'@15034; in 1883, lt5 14'@1401s; in 1884, 81121t124; in 1885 dividend char (J'es mcreasell. INCOME ACCOUNT. 1881. 1882. Receipts- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $ $ 1883. $ ------------------------- ----·------------------ MAP OF THE CHICAGO, MILWAUKEE ~ ST.PAUL RAILWAY AND CONNECTIONS. I C Gogeoic ·- ---- .!!:.0!1 z ~ ELLENDALE O A .:Frederic G·a',..,,v ,..[\,J. • gencr Fl · ~ Westport crl - Nl\c"· ~~ .,,.iat."-o~ ~0 .:Menette ..Ashton ~ Redfieldn.Y~-- - -- - --t:7-....a Tulare A ~ Ul ~ 0 0 E-4 Ul A ~ 0 ~ H H ~ ~ ,, ' \ } J~: ,..., 10 00 00 ..... pf r,:;1 I ~ A https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD STOOKS AND BONDS. 30 f VoL. XLL Sub scri b e rs will co n fer a great favor b y giving ltn1nedlate notice o f any e rror discovered In thes e Tables. Bonds-Princi DESCRIPTION. INTEREST OR DIVIDENDS. Miles Date Size, or Due Amount Rate per When Where Payable, and by pal,When of For explanation of column headings, &c., see notes of Par Stocks-Last Road. Bonds Value. Outstanding on first page of tables. Cent. Payable Whom. Dividend. Chicago <I Northwestern-( Oontinuect.)- ---- - - Iowa Midland, 1st mort., guar. by Chic. & N. W .. 75 62 Northwestern Union, 1st mortgage, gold ......... 24 Rochester & No. Minnesota, 1st mortgage ..•..... Chic. Mil. & N. W., construction bonds ............ .... Chica~o & Tomah, 1st mort. , guar ................. Milwaukee & Madison. 1st mort., guar .......•..•. Sink. fd.bds.(1 st M. as collateral) ($15,000 p. m.l .. --·· S. f. debenture bonds (for C. St. P. M. & O. stock) Debenture bonds of 1909 (for $6,000,000) ........ ..64 Ottwnwa C.F.& St.P., 1st M .. guar. ($25,000 p.m.) Des Moines & Minneapolis RR. 1st mort. Bonds... 58 Escanaba & Lake Superior RR., 1st mort ....... 3'i Dakota Central RR., 1st mort ..............•...... .... 1st M., Southeast Div. (for $2,000,000). ..... do North. Ill., 1st M. ($20,000 p. m.) guar. C &N. W, 75 Other small issues 1see r emarks on preced'g page) Cedar Rapids & Missouri River, 1st mort ......... do lstmort .......•. 58 lstmort ......... 146 do Chicago Iowa & Nebra ka, mortgage ............•. 82 Maple River 1st mortg ........................••. ..... Fremont Elkhorn & Mo.Val.,Consol.bonds ......•. 311 do do equipment bonds ... ......... .... Mo.V.&Blair RR.Br'ge, 1st, red'ble aft.'93 ..•..•.. Sioux City & Pacific, 1st mortgage ......•......•.. ioi do 2d mort. (Gov't subsidy) ... ...... 102 do pref. stock................ . ....... . ... Chicago Rock Island& Pac.-St'ck (for$50,000,000) t,384 1st mortga~. coup. or reg........................ 636 Chic.& Bout w., 1st M.~. (g'd in cur. by C.R.I.&P.) I 271 Exten. and collat. bonds ($20,000 p .m.) cp. or reg.: 220 Ohicago & Si. Louis-1st mortg. .... . ..... . .... ! 150 1870 1872 1878 . ... ·so isso 1879 ---· 1883 1884 1884 1882 11381 --·· iss5 ·;;o is6i Rate on pref .... Rate on comm'n Mlilcellaneous .. 1881-82. 7 14 ' 61.g $98,120 1882-83. 8 7 $98,120 1883-81. 8 7 $83,000 ----- $1,000 500 &c. .·-·· ..... --·· 1,000 1,000 1,000&c 1,00fJ&C 1,000 1,000 1,000 ---· 1:000 1863 1866 1863 500&:c. 500 &c. 500 &c. 500 &c. i883 1:000 1883 1868 ..... .... is117 ··-- 500&c. 500 &c. ·ioo 1,000&13 1869 100 &c. 1884 1,000 188-'> 1,000 1884-85. , 8 7 $58,000 $8,848,038 $9,118,408 9 132 449 Tot. disb'm'ti.i. $3.2~3,583 $ • • $1,161,281 $761,260 Balance, surplus $2,791,439 $ 5 7 5 ,700 GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR, .Assets. 1882-83. 1883-84. 188-1-85. Chic. & N. W. -Road & equip.. $80, 42 0,032 $l02 -7 i 0, 425 $l 2 6,8 53 ,8 7 0 72 4 Other companies do 55,668,8 39, 86,9!6 35,539, 2 3 4 2 00,000 2 00,000 2 00,000 Real estate in Chicago.······· 2 219 13 2 Bonds owned.•··········· · ···· ,9 , 508,0 6 *3 6 0, 242 Stocks owned................ . . 20,323,3rn tl2,282,159 1 , 22 1,000 Land grant investments · · · · · · ·· · ·· · ·· 730,000 Bills and accounts receivable. 1,245,918 1,192,626 1,890,841 Materials, fuel, &c.. •• . • •. . . • . 2,526,482 2,~05,359 1. 08,567 Cash on hand.................. 2,710,498 1,964,698 3,807,191 Trustees of sinking fund..... 1,525,000 1,730,002 1,934,004 Total.. ...... . ............. $147,210,021 $171,051,394 $185,897,108 Liabilities. Stock, common................ $16,229,916 $26,617,366 t$41,374,866 Stock, preferred.... . . . . . . . . . Stocks or propriet'ry roads,&c Bonds (See SUPPLEMENT)II . ... Bonds purchased.............. Divid'ds declared, not yet due Sinking funds paid............ Current bills, pay-rolls. &c.... Uncollected coupons, &o.. ..•. Rentals of roads in Ia., not due Bonds unsold, &c... ... .... .... Note of Consol. Coal Co....... Land income acicount......... Accrued interelt not due . . . . . Miscellaneous.... . . . . . . . . . . . . . Balance income account...... 2~,325,455 2'2,550,100 80,1391,000 . . . . .. .. 1,027,77!? 1,730,000 1,880,317 80,651 562,543 310,000 275,000 2,938,675 675,395 8 7 g. 7 6 6 6 5&6 5 5 5 7 6 6 6 5 7 7 7 7 7 6 6 6 6 6 312 1:\a, 6 7 5 6 A. & O· New M. & S. M. & S. M.&N. M.&N. .M. & s. A. & 0. M.&N. M.&N. M. & S. F. &A. J. & J . M.& S. M.&N. M. & S. --·· F. & A. F. &A. M.&N. F. & A. J. & J. A. & 0. J. -&-·J. J. & J . J. & J. A. & 0. Q.-F. J. & J. M.&N. J. & J. M. & S. York, Co.'s Office. do do do do do do do do do do do do do do do do do do do do do do do do do do do do do do do do do do do do do do do do do do do do do do do do . U.S. Treas., at maturity New York, Co.'s Office. New York, Co.'s Office. do do do do do do New York. Oct. 1, 1900 June 1, 1917 Sept. 1, 1908 Nov. 1, 1905 1905 Sept. 1, 1905 Oct. 1, 1929 May 1, 1933 May 1, 1909 Mar. 1, 190 9 Feb. 1, 1907 July 1, 1901 Sept. 1, 1907 Nov. l, 1907 Mar. l, 1910 Aug.··i;·i891 Aug. l, 1894 May, 1916 Aug.15, 1894 July l, 1897 Oct. 1, 1933 Jaii...i,..i923 Jan. 1, 1898 Jan. 1, 1898 Oct. 5, 1885 Nov. 2, 1885 July 1, 1917 Nov., 1899 July 1, 1934 Mar. 1, 1915 $20,000 per mile. These bonds are d eposited by Rock Island with the Unit ed Statei; Trust Co., and in lieu of them the Rock Island issues its own bonds for UR equal amount, but bearing 5 per cent. The difference in interest as it accumulates is to be invested in Rock Island bonds; these bonds may be redeemed at 105 after July 1, 1,;94. L ..ums.-The sales in 1884-5 amounted to 4,032 acres, for $-14,011 the average price being, therefore, nearly $10 91 per acre. The bills receivable were (March 31, 188:5) $905,927. The unsold lands of the eompany comprise only about 18,652 acres. OPERATIONS, FINANCES, &c.-The company has been very successful and well managed, and, incl11din~ scrip dividends, has paid its stockholders handsomely. The r eceipts from lands are now practically ended. The management is secretive and no monthly reports of earnlags are issued. The mileage, earnings, &c., for four years ending M.trch 31. have b f een as O11ows: 1881 _2 _ 1882-3. 1883-!. 1884.-5. Miles owned & oper.. 1,381 1,381 1,384 1,384 Earnings$ $ $ $ Passenger.... .. .. . . . . 2,853,331 3,333,<169 3,313,448 3,023,884 8,056,316 8,144,142 Freight . . . . . . . . . . . . . . 9,687,097 7,928,236 1,165,750 1,038,885 Mail,express,r'nts,&c 726,215 928,598 22,325,454 Total grossearn'gs. 13.266.643 12,189,903 . 12,535,514 1':?,206,911 11,220,000 7,322,862 7,109,817 7,160,324 7 .298,002 Total exp enses .... 91,460,500 ---------. ...... . Net earnings . .....•. 5,943,781 5,080,086 5,237,C.12 5,046,587 1,544,221 58·33 58·22 55·20 58·6~ 1,934,000 P.c of op. ex. to earn. 1,690,680 INCOME ACCOUNT. 113,:l62 Receipts$ $ $ $ 5,943,781. 5,080,086 5,237,512 5,0-16,587 537:000 Net earnings .. ....... 650,000 560,000 470,000 330,000 275,000 From land departm't 13,208 2,954,246 Miscellaneous ........ 705,060 Total income.. ... 6,606,989 5,640,086 5,707,512 5,376,587 Disbursements$ $ $ $ 301,121 327,593 304,363 301,121 Rentals paid......... 950,000 950,000 1,002,350 1,094,750 Total ............... .... .... $147;210,021 $171,051,394 $185 ,897,108 Interest on debt . . . . . Dividends............ 2,937,186 2,~37,186 2,937,186 2,937,186 7 7 7 7 * Includes general consol. gold bonds, $37,000; bonds of sundry Rate per cent.... . • • . 750 000 A.dd.. and imp. acc't.. 2,215,000 1,300,000 1,200,000 proprietary roads, $171,242; Iron River Furnace bonds, $2,000; Aurora 196'344 Mis cellaneous....... 125,327 147,591? 177,784 Branch bouds, $150,000. t Includes Chic. St. P. M. & 0. stock, $10,315,659; F. E & M. V. RR. 6,555,106 5,639,143 5 .618,441 5 ,279,401 stock, $1,V66,500. Also owns C. & N. W. common stock, $10,0 06, 16, rotaldisbursements. and preferred, $2,234, but these items are included in the amoun t s gi\ en Balance, surplus.... 51.883 9.13 89,071 97,186 on other side of the account. -(V. 39, p. 296, 3-18; V. 40, p. 183, 625, 684; V. 41, p. 5, 23.) t Including $10,00t,,816 jn company's treasury. • II Includin~ live l>onds in sinking funds, which amounted May 3 1, 18E5, Chicago & St. Louh.- Chicago to Pekin, Ill, 150 miles. This is to $838,500. the title of the company orgimized in March, 1885, as u ccessor of the Chicago St. Louis & West ern, which had been formed iu Jan., 1884, as -(V. 39, p. 71, 128, H2, 15 5, 170. 264, 324, 381, 522, 606, 65!; V. 40, aucC€s or of the Chicago P ekin & Southwestern. Bonds offered for sale p. 226, 3t8, 684; v. 41, p. 76,100,101,255,272, 685.) in New York July, le 85, by R. P. Flower & Co. (Bee V. 41, p. 355, 415.) Chicago Kock Island & PacUlc.-LINE OF ROAD.-Owns from Chicago St. Louis & Pittsburg.-The mileage is as follows : Chicago to Council Bluft's , 500 miles; Davenport. Ia., to Atchison, Kan., Columbus, 0., to Indianapolis, Ind., 187 miles; branches-Bradford June., 345; At,chison Junction to Leavenworth, Kan., 21 ·5; Washington, Ia., to O., t o Chicago, ill., 231 m.; Richmond, Ind., to AnokaJunc., Ind., 102 m.; Knoxville, 77·5; South Englewood to South Chica.go, 7·5; Wilton to Peoria Junction, Ind., to ill. State Line, 61 m.; total operated, 582 miles. Muscatine, 12·5; Newton to Munroe, 17; Des Moines to Indianola and This is the reorganization (March 20, 1883,) of the Columbus Chicago Winterset, 47; Menlo to Guthrie Centre, 14·5; Atlantic to Audubon, & Indiana. Central road, sold in foreclosure on Jan. 11, 1883. The 24·5; Atlantic to Griswold. 14:7; Avoca to Harlan, 11·8; Avoca to Cal'- C. C. & I. O. company was formed F'eb. 12, 1868, by consolidation of son, 17·6; Mt. Zion to K eosauqua, 4·5; Wilton to Lime Kilns, 5. Leased: the Col. & Ind. Cen. and Chic. & Gt. East. railroad companies, and was Cameron, Mo., to Kansas City, 54; Bureau Junction to Peoria, 4 7 miles; leased to the Pitts. Cin. & St. Louis Railway Co. Feb. 1, 1869, by which Keokuk to Des Moines, 162. Total operated, 1,384 miles. company it was operated. After default in 1875 and much lltigation, ORGANIZATION-The Chicago & Rock I sland RR. was chartered in a plan of settlement with the Penn. RR. was approved by a majority Illinois Feb. 7, 1851, and opened from Chicago to thl· Mississippi Ri ver of b ondholders in 1 82 and carried out. The preferred stock is entitled July, 1854. The extension from the Miss. to the Mo. River was built to 6 p er cent yearly if earned. and is clearly cumnlative. There was held. by the former l\Hssissippi & Missouri RR. of Iowa, which was foreclosed by t h e Penn. RR. and the Penn. C,,. a large amount of the 1st con sol. under mort"age in 1866. The illinois and Iowa roads were consolidated mortgage aud the stocks, wl.lich is presumably etill held by those August 22, i866, under the present title, and the main line was extended companies. The annnal report of this company, for the year 1884, was pubto Council Bluft's June, 1869. The Iowa Southern & Missouri Northern was formerly the Chicago & Southwestern, and was foreclosed and pnr- lished in the CHRONICLE, V. 40, p. 539, to which reference should. oh-ased by this company, and consolidated June, 1880. The present be made. The report s:1ys: "rhe coml.)arativel.v large d ecrease in the Chic. R. I. & Pacific was a eonsolidation June 4, 1880, with $50,000,000 freight earning.;; was occasioned partly by a falling off in the touna~e stock authorized, and a scrip dividend of 100 per cent to the holders of. to t h e extent ot' 9·5 per oent, but mai'nly by a material reduction m Chic. R. I. & P. stock. The fl.seal year ends March 31, and the annual rates . The total number of tous carried was-2,5! 7,U62, agaiust 2,783,033 in 1883, a deerease of 264,971 tons. The local tonnage amounted election occurs in June. to 121.689 tons, b eing a decrease of only 2,358 tons, as compared with STOCK AND BONDS.-Prior to the current year dividends were paid 1883.'' * * " as follows since 1876, viz.: in 1877 and 1878, 8 per cent; in 1870, 10; •·The ave,:a~e rate ol>tained on freight during the year wa'S 6 mills, in_1880, 812 cash and 100 per cent in stock; in 1881. 1882, 1883 a.ud against 7·2 mills in the previous year, a decrease of 1·2 mills, or 16 ·67 1 8 84, 7. Ran~e of prices of stock was as follows since 1876, viz.: iu per cent. This was dne t" the severe competition for thl'ough traffic, 1877, 8212-Wlu512; in 1878, 983s@l22; in. 1879, 119@15012; in 1880, which con~tituted more than one-half of your total tonnage, upon which to J11ly, 149W204; July to Dec. (new stock) 10012Wl43; in 1881, 129 tbe average 1·ate obtained was but 4·9 mills, against 6·4 mills in the @1485a; in 1882, 122@140 14: in 1883, 11612@12714: ln 1884, 10014'@ previous year." * * * "Tlle ratio of expenses to earnings in 1884 1 26:\a,; in 1885 to Dec. 18, 1051!132. was J.)l'actically the same as in 1883; this ratio nwving been 81 ·93 per The road from Minneapolis west to the junction with Bur. C.R. & N· cent m 1884 against 81·91 per cent in 1883. There was expended for line is built under the charter of the Wisconsin Minnesota. & Pac. Com· betterments and Pharged to construction -account; in 18 :S4 the "um of pany issued by the old Territorial Legislature. Thew. M. & P. Co. issues $1,213,335, of which :$606,3-13 was for real estate and $276,657 fer its °Donds running for 50 years, bearing 6 per cent interest, at the r ate of right of way." https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 22,323,190 2~,463,400 69,821,000 4.60,000 1,023,406 1,525 ,000 1,965,653 82,668 530,364 284,000 300,000 1,033,565 675,395 66,601 8,425,863 $1,350,000 3.365.000 200,000 601.000 1,5'28,000 1,600,000 14,6 !5,000 10.000,000 4,0,)0,000 l.,500,000 600,000 720,000 1,007,000 2,000,000 1,500,000 873,000 700,000 582,000 2,3wi,ooo 129,000 402,500 5,725,000 440,000 1,000,000 1,628,000 1,628,320 169,000 41,960,00(1 1:l,500,000 5,000,000 3,300,003 1,500,000 - - - ---- ----- --------- ---·- MAP OF THE CHICAGO & NORTH WESTERN rnead RAILWAY & CONNECTIONS. DULUTH 2 0 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD STOCKS AND BONDS. 32 [VOL. XLI. Subscribers will conCer a great Cavor by giving inunediate notice oC any error discovered In these Tables. ----- Bonds-Princi INTEREST OR DIVIDENDS. p al,When Dne. Miles Date Size, or Amount par Rate per When Where PJt_~~~ and by Stocks-Last of For explanation of column headings, &c., see not~s of Dividend. Road. Bonds Value. Outstanding Cent. Pay'ble on tir13t page of tables. - DESCRIPTION. ---- ---- ·----- - - 582 cl; Pittsb.-Common s~ock ......... Pre erred stock (6 per cent cumulative) . ... . ...•. 582 1st mortgage, cons )1. gold ($22,000,000) .......•. 530 1st M . Chic. & G't East. (Chic. to Lo~nsport) ..•. 117 ao Col. & Ind'polis Cent. (Col. to d's, Ind.) .. 208 93 do Union & Logansp't (U'n City to Lofansv't) do Cinn . & Chic. Air Line(Richm'd to ~~ans.) 107 2d M. Col. & Ind'polis Cent. (Cov. to Union ity) .. 208 Okie. St. Patti, Min'polis & Omaha-Common stock .. 1,280 Preferred stock . ........... ........ . . .... .... ....... 1,280 Consol. mortgage ($15,001) per mile) ... . .......... ---· Chic. St. Paul & l\Iinn., 1st mort., gold, coup ...... 177 North Wisconsin, 1st mortgage ..................•. 120 St. P. &Sioux City, mort., gola, for $7,000,000 .. . . 605 St. Paul Stillwater & Taylors' Falls, 1st mort ..... 23 Hudson & River Falls. 1st mort .... . .. .. . ......... 12 Minneapolis East RR., 1 st mort., guaranteed ..... ..... Chicago d': 1Vest. Indiana-lat mortgage .. ........... .... General mortga_ge, gold, sinking fund .... .. .. . ... .... Okicago <f West Michigan-Stock, new .............. 413 1st mortrge, New Buff. to St. Jo ................ ::.27 Gr. Rap. ewndlo & Lake Sh., 1st mort. coup .... 36 do cl l\I. on 35 m. & 1st on 11 m., coup 46 General mortgage ($12,000 per mile) .............. 413 Oinc-innati & k'aslern-Istmortga!!e . ............... 86 Cincinnati Hamilton & Dau ton-Stock .............. 354 Preferred stock for $1,000,000 .... ..... .... . ....... Consol. mort. ($906,v00 are 7s), smk. fund 1 p. c Cin. Ham. & I. (Junction) RR., 1st mort., guar .•.. 98 Chicafe_° St. Lo11is ---· $100 100 1,000 isss --- - 1,000 i864 ·--· 1864 1865 ---- ·ioo .... 100 1.000 500 &c. 1,000 1,000 isso 1878 1 880 1 879 1878 1 878 1879 1879 1882 --·---- 1:000 1,000 i869 1~000 1,000 500&c. 1,000 1871 1875 1881 ·~I{~;~ . ---· ··-· 100 i",ooo 1,000 1873 $6,952,543 17,274,550 13, ~83,000 224,000 2,631,000 715,000 101:,500 780,000 22,0~7,700 13,283,500 11,970,170 3,000,000 800,000 6,0 0,000 334,800 125.000 75,000 2,469,000 6,396 6t~6 6,796,800 480.000 576,000 30.500 2,736,000 4.98.100 3,500,000 449,000 2,830,000 1,800,000 .... ..5.g. 7 7 7 7 7 Optrations- 1882. 580 1883. 63J $ $ Passenger........ .... . . . . . . . . . . . . . Freight...... .... . ... ............ .. Mail, ex1iress, &c.... .••• ..•.. .. .. . Total gross earnings ......... . Operating expenses aud taxes . . Netearnings ...................... . Per cent. of oper. exp. to earn'gs. Union Trust Co . do do do uo do .A.pr1i·i;·fo3z 1893 &'95 Nov., 1904 Dec.. 1905 Aug. 1, 1890 Nov., 1904 ·York: New ·office do do do do do do do do do do do do do do N. Y., Drexel, M. & Co. do do Boston. Bost.. Treasu~·er's office. N. Y. Union Trust Co. do do Jaii:2<>,.i886 Jtme 1. 1930 May 1; 1918 Jan. 1, 1930 April 1, 1919 Jan. 1, 1908 Jttly 1, 1908 Jan. 1, 1909 Nov. l, 1919 Dec. 1, 1932 F eb. 16, 1885 Sept. 1889 July 1, 1891 June 1, 1905 Dec. 1, 1921 Sardinia. 0, Receiver. July 1, 1896 Cincinnati, 0. Nov., 1885 do do July 7, 1885 N. Y., Winslow, L. & Co. Oct., 1905 do do Jan., 1903 I Passenger mile:1ge. ..... ..•..••..• 46,183,683 48,146,452 Rate per passeng-er per mile...... 2·44 cts. 2·42 ct~. Freight (tons) mileage ............ 547,861,385 526,62'l,269 .Average rate per ton per mile.... 0 ·66 cts. 0·72 cts. Eanitngs- .&.. 3 J. J. 6 J. &D. 6 g. M.&N. 6 J. & J. 6 g. A. & 0. 7 J. & J. .J. & J . 8 7 J. & J . 6 ti. M.&N. 6 g. ~.-M. l¼ . &.A. 8 l\f.& S. 8 J. & J. 7 J. & D. 5 J. & D. 7 J. & J. 3 A. & 0. 3 5 6 &7 A."&..O . 7 J. & J. O:PERATIONS AND FISCAL RESULTS. Miles of road operated .......••..• --------·- --·- A.·&·o. N. Y., do VariOlll'l J. & J. do do A. & 0. F. & A . do M.&N. do 1,, 63,407 :.=i,781,107 3!9,406 1,128 ,909 3,63~,6n9 357,365 INCOME ACCOUNT 188-1. ti35 4,::$35,964 $703,586 86·27 $957,956 81·90 Disbursement!>- $ 1 , 134,6fl 9 2 ,902,433 3 59,718 ----------------5,122,943 5,293,920 4,396,840 4,419,357 Rece·i pts- Net earnings ....... . 43 ,891.744 Net from land grants 2·32 eta. Other receipts ..•.... 484,716,89-! 0 ·60 cts. Totru income .••• Ren tals paid ..... ... . lnter est on debt .... . Div. on pref. stock .. Rate of dividend ...• Loss on prop. roads. 1881. $ 1,245,499 504,144 78,585 ----1,828.228 $ 53,059 893,536 672,737 (7) 1882. $ 1883. $ 1884. $ 1,721,415 546,825 120,866 1,891.457 547,777 153,623 1,777,909 651,125 212,221 2,389,106 2,592,857 2,641$25~ $ 27,736 l,13l,751 735,397 (7) $ 35,56-l 1,22:2,371 770.476 (7) 1 2,856 49,174 1,320,146 787,976 (7) 13,065 3,6u2,213 Tot. disbursem'ts 1 ,6 19,::$32 1,897,835 2,040,767 2,170,361 Balance surplus..... 208,896 491.221 552.091 470,894 $794,627 -IV. 39, p. 409,624; V. 40, p. 350, 3o3, 508, 538; V. 41, p. 355,434, 81 93 ti53.) INCOJIIE .A.CCOUJST. Chicago & Western Indiana.-0wns from Dolton and Ham• 18 ,4. mond, Ill .• to Uhica~o, witl1 a belt railroad and branches, with ware$79 L627 houses, elevator, &c., 12 miles of roads and 132 miles of track> in all, 1,9,2 including 2d, 3d, 4.th and siding track, and auout -100 acres of real 78 073 estate. This company leases its road fo1• rig-ht of way into Chica,1ro and terminal facilities therein to the Wabash, the Gr. Trunk of Canada, the Total income . .................•...•...•.... $984 ,973 $874,672 Cn.icago & East. Illinois, the Chic. & Atl. and Louisv. New Albany & Chic. roads; the annual rentals stipula t ed amount to $667,450, exceeding Disb1trsern( nlsRentals paid ................................ . U5.9'8 $21,224 the interest charge considerauly, lJut the annual report gives no clear Interest on clelJt .. . ... .. .. ...... . ........... . 663 ,3 6::J 1,079,t:,02 account of earnings and expeuses. In 1882 a consolidation with the S,. C. & West. Incl. R.k. and the W. Ind. Belt. road was m11,de with stock of Net C. C. & I. C. for three months .......... . 120,633 $5,000.000 anrt bonds · Um1terl to $10,500,000; the bonds are liable to be redee111erl after 1885 at 105 by a siukin~ fund, which is provided for Total disbursemenrs ....................... $7 .. 9,91-l $1,100,826 by increa~d rentals to be paid for that purpose. (V. 40, p. 181, '76~.) Balance .....................••...........•.. sur. 185,059 def. 226,154 Chicago & West Michigan.-Owns from Lacrosse, Mir.h., to -(V. 40, p. 363, 539.) Pentwater, Mich., ::!09 miles; uranc hes-Holland Junc.tion to Allegan, 23 miles ; Holland to White Cloud, 70 miles; Fruitport to Muskegon, <lhicago St. Paul Minneapolis & Omaha.-(See map Cbicag-o .& Nortbwestern.) l\lileage: Eastern Div.-E1roy to St. Paul, 196 miles; 10 miles; Kirk's Junction to Pickand's Junction, 3 miles; Muskegon to Port Sherman, 6 miles; Woodville to Muskegon River, 17 miles; River Falls Branch, 12 miles; Stillwater Branch, 4 miies; South Still wa-ter Branch 4 miles: Eau Claire Branch, H miles; N eillsville Branch, 14 miles; Mears to Hart, 3 miles; B. R. Junction to Big Rapids, 51 miles: White River Junction to B alrtwin, 20 miles; total operated, 413 miles. OrganSt. Paul to Minneapolis. 10 miles. Northern Division-North Wisconsin Junction to Bayfield, 178 miles; .A.s nl:md Junction to .A.~hland, 4 mileA. ized as successors of Chicago & Michigan Lake Shore Jan. 1, 1879, and consolidated in Sept., 18S1, with the Grand Haven road, 57 miles, St. Paw & l::lioux City Division-St. P aul to Sioux City, 269 miles· :Minneapt,lis to Merriam Junction, 27 miks ; Lake Crystal to Muskegon to Alle$'an, and the Grand R1tpids Newaygo & Lake Shore, 46 miles, trom Grana Rapids to White Cloud. Elmore, 44 miles; Heron Lake to Pipestone 55 miles; Sioux Falls Junction to Salem, 98 mile1;1; Luverne to Doon, 2, miles. N ebraska Tlle 1:,,nnual report, in V . 40, p. 452, had the following: Di_v.-C~vin_gton to Omaha, 1~6miles; Coburn June. to Ponca, 16 miles; 1881. 189~ 1883. 1894. M1ssour1 Rn-er transfer, 2 miles; Norfolk Branch to Emerson, 46 mile8; Earninns'S $ $ $ Wakefield to Hartmgton, 34 miles. (,'bi.ppewa Falls & Superior Linemile~ ; Eau Claire to Chicago Junction, 80 miles; Superior J unction Total g-ross earnings ... ••... 1,325,052 l.:'i08,433 1,550,098 1,469,667 to Superior City, 62 milt-s. Total owned: 1,31:i miles. Proprietary- Operating expenses ....•... l,05c!,980 1,017,788 l .1S5,224 l,0u0,690 road, 5 miles. Tota l of all, 1,318 miles. ThiE was a consoll• 455,615 364,874 468,977 d3:t1on J:uJ-y, 1880, of the 9hicago St. Paul & 1\Iinneapolis (formerly West Net earnings................ 270,072 WISconsm), tue North W1sconsm, and the St. Paul & Sioux City. The INCOME ACCOUNT. St. Paul & Sioux City was a consolidation in August, 1879, of the St. Paul & Sioux City and the Sioux City & St. Paul, forntlng a main line 1881. 1882. 1883. 1884. from St. Paul to Sioux City, 270 miles. The St. Paul Stillwater & Receipts$ $ $ $ Taylor's Falls was consolidated with this company; also the Worthing• Net earnings................ 270,072 38,,874 469,977 435,6-15 ton Sioux Falls & Iowa and Covington & Black Hills. 7,068 2,217 Other receipts... ..... ...... 2,325 7,559 Preferred stock has a prior right to non•cumulative dividend of 7 per -·--0ent from net earnings; but common is never to receive more than is 471,194. Toti1l income............ 272,397 4t.i2,713 372,433 paid on preferred. The Chic. St. Pattl & 1\lifilJ.eapolis t st mort. is a 2d Disbursements$ $ $ $ -0n the lands; the land mort. a 2a on road; but no foreclosure can be Inter est on debt............ 117,756 217,024 222,085 191,123 had except by default on l st mortgage. 2 l5,257 Divitlends ...............••. 153,580 184,506 In Novemher, 1882, a controlling interest in the stock was purchaAed tor the Chicago & Northwestern Railway by the acquisition of 93,200 Total disbursements . ... 117,756 345,003 401,530 437,342 shares of common at an average price <)f 48·40, and 53500 s hares of 117,710 def. 29,097 33,852 preferred at an average of ll•4·04-the total cost being $U),503,939, Balance, surplus............ 154,641 -(V. 40, p. 452.J which stork is _beld ~s an asset o_f the Uhio. & Nort~western Company. Report to W1sccin 'lll Com111iss1ooers for yeareodmg June 30, in v. 41, Cincinnati &; Eastern.-June 3(), 1884, operated from Idlewild, p. 355, and an analyst,, of the income ac:count for first half of 1885 was O., tu Wharton, 0. , 99 miles; Junction to New Richmonrt, 15 miles; in V. 41, p . 4.3-!. leaSPS Col. & Maysv., 18 miles; Hillsboro Short Liue, 2 miles; and Cin. Report tor 1884 in CHROJ1,'TCLE, V. 40. p . 5~8. The land sales in 1884 were 195,0v0 acreA for $877,5H6, including lots; land contracts and notes to ldle wild, 5 m. Went into receiver's hands SPpt .. 1883, whu completed the road to Portsmouth during 1 88 -l, and is su Pd cerrifl.cates for that -0n hand Dec.31, •~4. $!,47J,591; lands uuui.spose<l. of, 9v0,'253 acres. puL•pose. In 1883-84. gross t'.arnings were $139,318; net, $19,613. Earnings, &c., were as follows: Plan or reorganlzdtion in V. 41, p. 23. (V. 40, p. 120, 301.) Receipts- N et earlliogs .. ........•.•••..•...••....•..... Interest . ............. . ........ ..•........ .. . Other !'ece1pts . . •. ......•..........••......... 1883. $9 -"l7,9:'>6 26,720 297 ---- ---·-- -- --- ROAD .AND EQUIPJIIE~7. Miles oprrnted. ..... Earnings- .Passenger.... . . . . . .. Freight ... . .. . . . . .. 1\Iail, express, &c.... Tgt. gross earnings -Oper'g e.xpens.& txi;. Net e arniugs .•..... P.o. o!op. ex. to earn. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1 P81. 18--2. 1El83. J 8 =l4. 1,003 1,150 1,280 1,318 $ $ $ lti 944, 1'29 1,311,2 t 7 l ,470,5 .'i 8 1,430.711 2,913.521 3,478,621 3,84.3,!H.8 4, 132,5:i0 t64,lll 1-;1,36l 20U,778 ~21,690 - - - - - - --·- - - - - - - - - · - · - 4,0n .961 4,962,202 5,51:'i,284 5,784,931 2,77o,4.6:.! 3,2-!0, :-s 7 3 ,b23,827 4,007,022 - - - ·-- --· - · --·--- ----1,2-15,499 1,721,415 1,891.457 1 ,";77,909 G9·03 li5·31 65·70 69·26 Cincinnati Hamilton & Dayton.-0wns from Cincinnati, 0.,. to Vaytou, o., 60 1uilei;; leased-Dayton & Michigan, Dayton to Toledo, 142 miles; Cinciunati Hamilton & Indiar;apolis, Ham.llton to [ndianapolis, 99 miles; Cincinnati Richmond & Chicago. Hamilton, O .• to Indiana State line (and leased road), 44 mileR; McComb Toledo & D., 9 miles : total op,>--,ted, 351 miles; ea-0h lease reported separ'ately. In April, 1882, n."r. Jewett, of the Erie, and associateR, outained eontrol of the stcck by guaranteeing 6 per cent on 20,000 sbare8, but the 11rrangemeut was in 18 5 annu.llcd by tlle C'Otuts an stock w11s r etume:l to the owners. The annu1.l r eport for 1884·85 was in V. 40. p. 74 0, ancl V. 41, p. 75, and Phowed ~ross earnings $:2,833,271; net, $99~,001; fixed charges. $671,665; oala.nce, $32v,33:i; divi- I DRCEMBER, 1885.] https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD STOOKS AND BONDS. MAP OF THE CINCINNATI, INDIANAPOLIS, ST. LOUIS & CHICAGO RAILWAY & CONNECTIONS. 33 RAILROAD STOCKS AND BONDS. 34 (VOL. XLI. Subscribers will conter a great ·cavor by g iving Immediate notice oC any error discovered In these Tables. Bonds-Prinoi DESCRIPTION. INTEREST OR DIVIDENDS. Miles Date Size, or Amount Rate per When Where Payable, and by pal,When D ue, For explanation of colwnn headings, &c., see notes of of Par Outstanding Stocks-Last on first page of tables. Road. Bonds Value. Cent. Payable Whom. Dividend. --- Cincinnati Indianap. St. Louis & Ohicaga-Stock .. Ind. & Cin. of 1858, 1st mort ............ . ......... Indianapolis Cin. & Laf. mortgage ................ Cin. & Ind., 1st mortgage .. .... ... . .... . ........... do 2d M., guar., andfundedcoupons .... Consol. mort. (for $7,500,000).. .... ... . ....... Cincinnati Lafayette & Chicago, 1st mort., gold .. Cincinnati Lebanon & Northern.-1st mortgage .. . Cincinnati & Muskingum Valley-1st mortgage .... Cincinnati New Orleans & Texas Pacific-Stock ..... Oin. Richmond & Ohic.-lst mort., guar. C.H. &D .. 2d mortgage, guar. and owned by C.H. & D ..... Oin . .Richmond & Ft. W.-lst mort., ~old, guar ..... Cincinnati Sundusky ct Oleveland-S ock ........... Preferred stock ... . ................................. Mortgage bonds, Sandusky, Dayton & Cincinnati Mortgap:e bonds, Sandusky City & Ind ............ 2d mort~- Cine., Sandusky & Cleve ............... _ Cincinnati & Springfield-1st mortgage, guar . .' ... . ot~~~\~~?~c!kasii" ;i "iiiic-,iiga;~stock. ($:f00(),000) 0 Cincinnati Washington & Balt.-Common stock .... Preferred stock .. ...... _............................ 1st mort. gold (the 412s are guar. by B. & 0\ ...... i~i:t~~~{~18~~~:::::::::::::·.-.._._._._._ ._._._._._._._._._·_ : : : : 3d mort., gold 13 pr. ct. for 10 years and 4 after) . 1st income mort., non-cumulative, gold ........... 2d income mort., non-cumulative ..... .. ....•..... 382 95 151 20 20 175 56 i858 1867 1862 1867 1880 1871 i¥s isfo i866 ---- $100 500 &c. 1,000 1,000 1,000 1,000 1,000 1:000 100 1,000 1,000 1,000 50 50 336 36 36 90 190 190 1869 1871 '43 1867 1871 1872 1,000 1,000 ..... "ioo ··-· isi,s ·--· ..... 1852 48 165 281 281 ...... i883 ·-·· .... 1883 .... ---- 1883 1883 1883 18fl3 ..... --·· ---- 100 1,000 1,000 1,000 1,00(1 1,000 1,000 dends of 6 per cent, $210,000; surplus, $110,336. The statement of earnings, &c., for six months, April 1 to Sept 30, was in the CHRO~WLE, V. 41. p. t!c72. Income account in the fiscal years ending March 31 was as follows, including all the roads operated : 1882-83. 1883-84. 1884-85. Gross receipts ......•...•...•...•. $3,088,407 $3,04.2,41-i l $2,865,933 Operating expenses and taxes.. 2,100,026 2,083,705 1,841,271 C. H. & D. div....... . . . .. . . . . .. . 236,485 236,940 Interest.............. . . .. . . . . . . . . 612,096 509,840 503,266 D. & M. dividends. .. .... . . . . . . • . 132,015 132,015 132,017 Miscellaneous.................... 7,630 6,185 10,650 Total.. ... . ................. . $2,751,767 $2,968,227 $2,724,144 Net surplus.......... . . ... .•. $336,628 $74,232 $141,789 -(V. 39, p . 21,208,493; V. 40, p. 541,640, '2'41, 763; V. 41, p . '2'5, 355, 472, 653.) Cincinn ati Indianapolis St. L ouis & Chlc a go.-(See Map.) Owns from Cin. to Lafayette., Ind., 174 miles; Lawrenceburg IJrancb, 3 miles; Harrison branch (partly owned), 7 miles; Fairland F. & M. Road, 38 miles; and Cincinnati Lafayette & Chicago (leased), 76 miles; VernonOreen. & Rush., 44. miles (lleased); Kankakee&Seneca (one-half owned), 43 miles; Col. Hope & Green., 26 miles; total operated, 411 miles. This company was formerly the Indianapolis Cin~& Laf., which was a consolidation in 1876 of the Indianapolis & Cin. and the Laf. & Indianapolis railroads, the company taking a perpetual lease of the Cincinnati & Indiana Railroad. 'l'he road was sold in foreclosure Feb. 2, 1880, and this company organized. Of the $7,500,000 new bonds a sufficient amount was reserved, into which all of the old bonds prior to the Indianapolis Cin. & Laf. 7s of 1869 could be exchanged at par. In addition to b ·m .d s given above there are $33,500 Cin. & Ind. fund. coup. 7 p ct. bonds, due Sept., 1890. · After paying dividends of 6 p. c. in 1881, 6 in 1882,and 3 in 1883, the dividends from July, 188Rt were passed, the money being required for repairs of damages by flooa, &c., and 1 per cent paid in Dec., 1S85. For four months from July 1 to Oct. 31 gross earninsrs were $8i3,457 in 1885, against $945,764 in 1884; net, $339,695, against $;j63,232; surplus over fixed charges. $139,695, against$ 63,23:.<l. From the President's annual report for year end ing June 30, 1885, in V. 41, p. 391, the statistics of income, &c., were as fo1lows: INCOl\IE ACCOUNT. 1381-82 1882-83. 1883-84. 1884-85 $ G r oss earnin gs . .••• N et earnings .. . .... . Disbursements- Interest on bonds .. . Dividends ......... .. R a t e of dividends .. . Miscellaneous ....••. $ $ $ 2,525,991 1,00 0,60 3 2,617,457 973,652 2,40 8,589 903,190 2,595,859 935,6 78 591,326 3 60,00 0 621, 1 59 315,000 (4.lg p. C.) 6 2 6,233 6 24,482 (6 p. C) 6,732 2,342 - - - -- - -- - - - - · - ----- Tot. disbursem'ts.. 958.058 938,501 63 1,487 653,527 Balance, surplus .•.. 42,551 35,151 27 1,70 ; 232,151 - (V. 39, p. 263, 296, 461, 493, 580,707; V. 4 0 , p. 92, 213,'337, 480 , 624, 7 16; v. 41, p. 50, 76, 391 ,445,486, 584, 653, 688.) , Cinc innati & 1'Iusking u1n Valle y.-Owns from Morrow, O., to D resden Junction 0., 148 miles. Chartered as Cinn. Wilm. & Zanes. in 1851 and opened in 1857. Sold under foreclosure Oct. 17, 1863, and reorganized as 1.Jincinnati & Zanesville March 11, 1864. Bold again D ec. 10, 1869, and reorganized as at present. Leased for 99 year s from Jan. 1, 1873, ·to P. C. & St. Louis, lessees to pay all expenses and interest. any excess of earnino-s to inure to the lessors. In Dec., 1885, i t was reported the lease would be termiuated Jan. l, 1886. Gross earnings m 188-1, $383,667; deficit, $42,002; intert-.st paid, $ l05,000; total defl~it, $149,002 . Total amount due lessee Dec. 31, 1884, $96,!.,59G. Capital stock, $3,997,320. (V. 41, p . 23, 653.) · Cin cinnati New Orlea ns & T exas P aclfi c . -(See Jlap).-Thisis the c_om_pany_ organized under the laws of Ohio Oct. 8, 188l, to operate tp.e Cincmnati Southern, and 51 per cent of the stock is held by theEng~h ~mpany, th~ ~aba~a New Orleans & Texas Pacific ~unction Co., Limited. The Cmcmnati Southern road extends from Cmcinnati to Chattanoog-a, Tenn., 336 miles. The Ala. N. O. & T. P. alw oontrola the Vicks. & Mer., 142 miles; Vicks. Shrev. & Pac., 189 miles; N. 0. & No East., 190 miles; and Spanish Fort RR., 13 miles. See title in this SUPPLE!\fE:NT. The -rental due the Cincinnati Southern is '½1812,000 per y_ear till 1886, then $912,00l! till 1891, $1,012,000 till 1896, $1,102,000 till 1901, and $1,262,000 till 191)6. The annual r eport for 1884 in v. 40, p. 335, gave the following income account for two years : Receipts from. 18~-.1. 1883. Pas~enger&................ ..... ... .. ..... ... .... $55-!,197 $ 53!,940 Freight............................ . ......... . . 1,855,%6 1,843,781 Mail, express and miscellaneous........ ..•.. .. 1.!8,131 168,6J2 T~tal ea~nings ............................. ... ............ $ ·! ,658,184 Operatmg expenses and taxes .................. 1,1336,97-1 $2,6!7,343 1,85i,321 Net earnings ................................ $321,210 $791:i ,022 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis l Q.-J. $7,000,000 1,599,000 7 A.. & o. F. & A.. 2,790,000 7 J. &D. 499,000 7 1,329,000 J. &J 7 M.&N. 1,195,000 6 1,120,000 7 g. M.& S. 200,000 5 1,500.000 J. .&.. J. 7 3,000,000 3 J. .&.. J. 560,000 7 J. & J. 65,000 7 7 g. ,J, & D. 1,800,000 M.&N. 2 4,003,3 30 3 M.&N. 428,850 F. & A.. 591,000 6 M.& s. 350,000 7 1,072,300 J. & D. 7 A. & O. 2,000,000 7 651,000 J. & J. 7 1 ,945,530 ..... . ·-· 5,811,lOu 12,893,200 7, 500,000 4¼g& 6g M_-&-·N. 3,040,000 5 g. J. & J. 500,000 4¼g. A. & O. 2,270,000 3-4 F. & A. 3,500,000 5 4,000,000 5 ---- ---· 0 ---- ---· New York. Dec. 15, 1885 N. Y., Amer. Ex. Bank. Oct., 1888 do do Feb., 1897 do do Dec., 1892 do do Jan., 1887 .'92 do do May 1, 1920 N . Y., Am. Ex ch. N. Bk. Mch., 1901 New York; Moran Bros . Jan~.-'i~io1 Feb. 5, 18S3 July, 1895 Jan. 1, 1889 N. Y., Winslow, L. & Co. June,1921 Boston, Office. May 1, 1884 do do Nov. 2, 1885 Boston, Nat. R evere Bk. Au~. 1 , 1900 Boston. Office. Mch., 1887 do do Dec. 1. 1890 N. Y., U.S. Trust Co. April 1, 1901 do do 1902 Winaiow: do L. & Co. do N. -y ., -·······-....... .. .. N.Y.,Far1ii•e/i:& Tr.Co. do do do do do I Re!)t Deductof road .................................... . do do do do do --·-----------· Nov~. i",. "i931 Nov. 1, 1931 April 1, 1893 Nov. 1, 1931 Nov. 1, 1931 Nov. 1, 1931 1884. 18d3. $3 10,000 $800,000 12.0 .,0 12,000 $9lt,000 $512,000 Balance ........ . ............... .......... . Bur. $9, HO Def. :il l 5 978 F. S. Bond, Pres't, N.Y. C'ity. (V.40, p. 240,335,363; V .41,103,466,488.) Cincinnat i L e b a non & N o rth ern.-Dayton, Ohio, to Cincinnati, 60 Jµ.iles . This company was form ed 1n July, 1885, as successor of the Cincinnati Northern, sold ln foreclosure. Stookoulyis issued bytlle new company ~n exchan~e for former obligations and a new mortg~ge for $2 JO,OOO IS m a de. St0ck 18 $1.000,000. (V. 39 , p. 22; V . 40, p. 084; V. 41, :p. rn, 133, 215.1 Cincin n ati R lelunond & Chlcago.-0wns from Hamilton, O., to Indiana State Line, 37 miles; lea ed, Richmond, Ind., to Ohio State Line, 7 miles; total operated. 44 miles. Reorganized May 3, 1866, and leased in perpetuity from February, 1869, to Cincinnati Hamilton & Dayton Co., this co.npany to receive all surplus after expenses and bond interest. Gross earnings in 1882-33, $254.,003; net, $ l09,844; int. , $53,900; ,mrp., $55,944. Gross in 1883-4, $247.911; net,$86,256; int., $43.120; surplus, $43,063. Capital stock, $382,600. Cin cinnati Richmond & F ort Wayne . -0wns from Richmond, Ind., to A.dams, Ind., 86 miles; leased, 5 miles of Pittsburg Fort Wayne & Chicago; total operated, 91 miles. Leased for 99 years to Grand Rapids & Indiana, the rental being net earnings ; interest is guaranteed by the lessees and by the Pennsylvania Company and Cincmnati Hamilton & Dayton Company, jointly, Gross earnina-s ln 1884, $38d, i68; net, $63,571. Loss to guarantors, $100,391. Capital stock, $1,709,192. Total advances by guarantors, $895,479. Cin cinnati Sandusky & Cle v e land.-0wns from Sandusky, Ohio, to Dayton, Ohio, 154 miles; branch, Carey to Findlay, 16 miles; leased, Columbus B~ringfleld & Cincinnati, 44 miles; total operated, 214 miles, leas the division between Springfield & Dayton 1 24 miles, which i s leased to and operated by the Cleveland Columbus Cincinnati & mdianapolis. Six coupons on 2d mort. bonds were funded from June, 1877 , and $222,064 in coupon bond scrip is outstandinff:. T he preferred stock has a lien by deposit of old bonds in trust. The Receiver, after a three years' possession of the property, was discharged J anuary 1880. In Anril, 1881, a lease was made to the Indiana Bloomington & Western . By the terms of the lease t-his compa-r;iy takes 331 3 per cent of its groL'!s earnmgs as rental; but the amount in any one year shall n ot oe less than $220,00 0 nor more than $500,000. There was a difference of $ 20 2,076 claimed from t h e l essee up to 18 85, and suit is pending. In year ending June 30, 1885, rentals received and miscellaneous receip ts were about $223,000. P ayments, inclu din g all expenses, interest, dividends o n p r eferred st ock, &c., about $246,000. Cincinnati & Sprlngfield.-0peraoos from Cincinnati. Ohio , t o Springfield , Oh io, 80 miles, of which 32 miles were leased l'rom other co mpanies. T he whole is leased and op erated by Cleveland Col. Cin. & Ind. Co., giving t h em a line into Cincinnati, and d epot accommod&tlon. Lessees apply any excess over rentals to C. & S. stock. Inter es t is guaranteed on t he first mortgage, one-h alf by t he lessees and one-h a lf by L. Shore & Mich . Southern. Stock is $ 1 ,100,000. T o J anu ary, 1885, tne C. C. C. & I. h ad advanced $2,585,340 . Gross earningi! in 188 4, $910.908; net earnings, $l93,0 6S; rentals, $ 166.060 ; interest, $ 185,· 570; total, $351,6 30; rteftcit, $ 174,947. Cincinnati Wabash & 1'Ilc hlo-an Rallway.- 0 wn.s from Benton Har'bor, Mich., to Anderson, Ind., 165 miles. Sold N'ov. 5, 1879 ; for account of bondb.olders. New company organized April, 1 880, Total stock auth9rized, $3,000,000. Gro;is earnings for 1884, $326,532. net, $57,534; sw-pl us over paymen ts, $8,!69. Gross in 1 883, $334,774.; net, $26,074. J. H . Wade, President, Cleveland, Ohio. Ci ncinna ti Was hing ton & Baltl1nore.-(See Map of BaU. & Ohio.J-Cinciunati, 0., tu .Belpre, 0., 193 miles; branch~- Marietta to Belpr e, 11 miles; Portsmouth to Hamden, 55 m; Blanchester to Hillsboro, 22 m.; total, 281 m. The :itfarietta & Cincinnati Co. made default, a:nd a sale in foreclosure took place Dec. 9. 1882, and re-organization was made F eb. 7 , 1883, under name of "Cincinnati Washington & Baltimore," on the terms stated in the SUPPLEMENT and CHRONICLE. The three old moi·tgages on clitl'erent ro.tds given in the last three lin~ of the table above were allowed to r emain; then prior lien bonds were issued for receiver's oertifl.cates. Of the first mort~age bonds, $1,250,· 000 were issued for the Cincinnati & Baltimore Rai1road stock, and bear 6 per cent, tb.e balance bear4½! p e t· cent and are guaranteed b,r the Balt. & Ohio Railroad Company. Tue incollle bondholders have votrna- power. The holders of Marietta & Cincinnati first preferred sto ck paid a cash a ssessment of $.l 50 per share; 2d preferred, $1 50 p er share; common, $1 50 per share. The B alt. & O. RR. Co. received for its claims $3,100,000 of the pref. stock and $3,100,000 of com. of the new company. The an.!lual r eport fo r 1884 wa, in V. 40, p . 540, and had the following Earnings from1883. 1884. Pa.ssengers.... . . . . . .... ..... . ..•. . ........ .... ... $562,'-8 l $580,198 Freight . .................................... _. .. .. 1,177,181 1,079,8tH Mail; express, &c. ........ ........... ....•.... ..•. 249, 1W5 238.249 Total earuin~s .... . ... . ...................... $1,98:-1.~67 $1,~54,808 Operating expenses and taxes................... 1,489,824 1.408.371 Net earning;s . ........... . ... ..... ............ $500,0!3 $41fl.937 Per cent operating expen;ies to earnings.... 74:87 70'90 Paid to Trustees ............................... .. C cri ~ 0 P:i 00 ~ 0 0 E-1 00 MAP OF THE ,......, 10 ~ r-4 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis CINCINNATI . ' NEW ORLEANS AND TEXAS PACIFIC Ry AND CONNECTIONS. 36 RAILROAD STOOKS AND BONDS. (VOL.XL!. Subscdbers will conCer a crreat Cavor by giving lmmedtate notice oC any error discovered In these '.l'ables. Bonds-Princi INTEREST OR DIVIDENDS. DESCRIPTION. 0 Amount Rate per When Where Payable and by t>~~~enfa~:tfe S1j.~ror For explanation of column headings, &c., see notes ~fs ndi Divi~nd. Whom.' on first page of tables. _ _ _ _ _ Road. Bonds Value. Outsta n g Cent. Payable. 1 Cincinnati Washington <I: Baltimore-( Oontinued)- Baltimore Short Line mortgage ... . .............. . . Cincinn ati & Baltimore mort~age . ......••......•. Scioto & Hocking Valley mortgage ..•..•• .. _..... . Cleveland .A k1·on <I: Ooluml,us-Stock .•............•. Oteveland & Canton-Common stock ..•............. Prcferrecl stock . ............................ ..... .. Oleveland Columbus Oincinnati & Ind.-Stock .... . 1st mortgage Bel. & Ind .......................... . C. c., C. & I. sinking fund ......... . do .Cons. mortgage (sink. fund 1 p. c.) .............. . General consol. mort., gold (for $12,000,000) ... . Cleveland Lorain & Wheeling-Stock, common . ... . Stock, preferred . .............. ;_ .................. . Clevel'nd Tuscar~was Val. & Wheeling 1st mort. Clevelancl <I: Mahoning Valley-Stock . .............. . 1st mortgage, extended . ............... ...... ....• . 3d mortg. (now 2d) ............................. ... . Niles & New Lisbon, 1st mortgage ............... . Olevetand <I: Ma1·ietta.-Stock ....................... . 1st mortgage .......... ............................ . Oleveland ct Pittsourg-Guaranteed stock ...•...... 4th mortgag_e (now 1st) ......•..................... Consolidatea sinking fund mort. for $5,000,000 .. Construction and equipment bonds, Series ·'A" .. Series "B" .. do Do Olevtland romigs. <f:Pitts.-lstM., gold...........•. Colebrookdale-1st mortgage ......•................. Colorado Oent1·alr- l st mortgage, new .............. . Columbia cf; 01·eenville-New mort.,g'ld,ooup. or reg c:Z~:::g:Jv;i~-,."iDe ·osit~ist"iriortgage::::::::::::: Oolumbus Hocking ~alley & Toledo-Stock .. ....... . INCOME ACCOUNT. Net earnings........ ................. ........... .. ---- • . - - - - -------1---- ----1-----------1-- -----1869 144 39i 202 390 390 i58 158 158 127 67 67 35 99 226 199 199 ···· · 13 323 164 164 40 324 1883. $ 50 '.J,043 i852 $1,000 · 1,000 ---· "ioo .... i864 1869 1874 1884 1,000 1,000 1,000 1,000 ---.... .... i878 "ioo . ... --- . ··50 i873 500 &c. 1876 500 &o. 1870 500 &o. .... 1880 -·-· i862 1867 1873 ...50 500 1,000 1,000 iss 2 1868 1879 1881 1881 1868 .... lOO&o. 1,000 1,000 1,000 1,000 100 1:000 $750,000 7 J. & D. N. Y., Farm.Ln.&Tr.Co. 500,000 do do 7 J. & J. do 300.000 do 7 M. & N. 4,000,0.00 do do ... . 2,166,100 3,071,800 ··2· F. & A, N. Y.,"u:·s:Trust Co. 14,991,600 do do 319,000 J. & J. 7 do do 3,000,000 M. & N. 7 3,997,000 7 or 6 g. J. & D. New York or London. New York. 3,5uo,ooo 6 g . J. & J , 1,000,000 4,600,000 .A..·&·o. N.Y .. Union Trust Co. 7 700,000 2,759,200 Cleveland, Office. 5¾, M.&N. 740,500 7 g. F. & ..A.. N. Y., U. S. Trust Co. do do 654,600 M.& S. 7 500,000 J. & J. N. Y., Union Trust Co. 7 1,547,000 ··,;· F. "'&'"' ·.A. Last pai(i, ·F-eb:, 1 884. 1,000,000 11,223,950 l¾. Q.-M. N. Y., Farm. L: & T. Uo. do do 1,096.000 6 J. & J . do 2,227,000 do 7 M. & N. do do 1,735,000 J. & J. 7 315,000 1884 Last J. &. .. J 6.g. .. 1,600,000 600,000 J. & D. Phila., Phil. & R . Ottioe. 6 4,701,000 7 g. J. & J. Boston, Treas.'s Otlice. 2,000,000 N.Y.a.!at. Parkd~ank. ~ g. 1,000,000 Phila., P enn. RR. 1,8~2.000 F. & A. 7 . .... . ... . 11,700,500 133s st'k .... 0 0 paicl...Tan:, .f. i 5: 1884. $1.45,937 Dec. 1, 1904 J an. 1, 1900 May 1, 1896 ......•. Feb: ·1, ..i883 Until 1899 May, 1899 June 1,1914 Jan. 1, 1934. Ooi.°. 1,. "i898 1884 .A.ug. 1, 1893 Sept~ 15, 1896 Jan., 1890 Sep£." 1, ..i905 D ec. 1, 1885 Jan., 1892 No~. 1, 1900 J an. 1, 1913 July· 1,. "i921 Jnne 1, 1898 July, 1909 J an. 1, 1916 .A.pril 1, 1923 f'eb. 1. 1896 .A.ug.19,1885 1884. 1883. 1 88 2. 1881. Disbursements-$ $ $ $ Interest on debt ..... . 602,540 507,453 498,615 47a,218 $719,349 Taxes ....... .... . ... . 119,104 125.144 121,276 112,688 interest on debt........................ ...... ... . $673,690 1,318 Dividends . .......... . .. .. (2) 29 9,984 Miscellaneous ........ ..................... .... .... ····268 "i2:3"i3 102;6a·s 2 6,9 95 l'tlisoellaneous .. · .. · •· $720,667 $673,690 . . . . . . . . . ............... Total disbursements . ---824,277 959,576 632,204 588,174 disbursem'ts. Total 274,730 def. def.173,647 ..... ............................. .... Balance 244,521 530,177 939,923 853,518 Balance, surplus..... -(V. 39, p. 96; v. 40, p. 453, 540.) -(V. 39 n. 47,580,732; V. 40. p. 337. 392,763; V. 41, p . 50, 571.) 0leveland Akron &: 0olnmbus.-Owns from Hudson, 0., to Columhus, 0 ., 144 miles. D efault was made July, 1874, by CleveCleveland Lorain&: Wheeling.-0wns from Lorain, 0., to land Mount Vernon & Delaware. Sold in foreclosure August 20, 1881. West Wheeling, 0 ., 158 miles. Chartered as Lake Shore & Tuscarawas In March, 1882, the decree of foreclosure under which salo had been Valley in 1870 and opened in 1873. Sold under foreclosnre Jan. 26, made was reversed, and road was sold again June 7 to parties r epresent- 1875, and reorganized as Cleveland Tuscarawas Valley & Wheeling. Ining the Holland bondholders and company reorganized without bonds. February, 1883, road old and r eor ganized as Clevel and Lorain & Gross earnin~s in 18 3-84, $47:),280; net, $80,858. Gross in 1B83, heeling. The new company has no b onded debt except the $700,000 $523,983; net, $11 7,319. in t able above. For 188-!. gross eftrniugs were $858,091; n et, $254,920; interest, $49,000. (V. 40, p. 683.) Cleveland &: Canton.-Line of road-Cleveland to Coshocton, 0., Cleveland &: Mahoning Valley.-0wns from Cleveland. O., 115 miles; c anton to Sherrodsville, 43 mile ; OnPida t0 Minerva, 3 mile ; 0., and branches, total. 161 mile. . The Connotton Valley Railroad was sold in foreclo ure to Sharon, Pa., 1 mile ; Niles, 0., to New Lisbon. miles; total operated, 127 ruiles. It was leased to Atlantic & Great 46 May·9, 188;:,, and this companywasorgauize<l with an authorized capital lea e was made of $3,000,000 comm on and $6,000,uOO preferred Ptock ; there were WeRtern in perpetuity from October 1, 1861. A new & Ohio, till Oct. $73,000 1 ccei,ers' certificates to be paid. H. A. Blood, Boston, Pre id't. to the reora-anized company, New York Pennsylvania. .) 1, 1962, at $357,180 per year till J anuary, 18S5, and $112,180 per year -(V. 39, p. 296; V. 40, p, 151,304, 363, 385,597, ti25, 763. V. 4 1, p . afterward. Cleveland Colwnbus Cincinnati &: Indlanapolis.-0wns Cleveland &: lliarietta.-Operated from Marietta, O., to Canafrom Clev lan<l, 0., to Columbus, 0 ., 138 mile ; Galion, 0., to l.Rclian- Dover and branch, 99 miles. Thls company was organized as sucapolis, Ind., 203 miles; Delaware, 0., to Springfield, 0., 50 miles; cessor of the Marietta Clevel and & Pitts., which was foreclosed June 13, leased, Cincinnati & Sprini!S:fl.eld RR., 80 miles; Levering Station to 1 877. In Au~., 1884, i ntere»t was not paid, owing to failure of C. K. Mount Gilead, 2 miles; Ina. & St. Louis RR., Indianapoli~ to T erre Ga,rrison . Receiver was appointed February, 1885. Earnings for Haute, 72 mites; St. L . Al. & T. H., East St. Louis t o Terre Haute , 18!-l 18 3-84, $228,763; net. $::S7,369. Earnmgs in 1882-83, $19 7,466; net, miles; Alton branch, 4 miles; total owned, leased and operated, 7 38 $47,3S7. R. C. Livingston, Pres't, N.Y. City. (V. 40, p. 240.) miles. This was a consolidation in April, 186~. embracing the C. C. & o. Cleveland &: Pittsburg.-0wns from Cleveland, O., to Roch and the Bellefontaine roads; subsequently leased Cinn. & Spring. RR. ester, Pa., 124 miles; branches-Bayard, 0., to New Philadelphia., 31 and St. L. Al. & T. H. RR., and purchased Ind. & St. L . RR. to Pittsburg The company pai<l dividends prior to 1877, but after that the nlilcR; Yellow Creek to Bellaire, 43 miles; leased, Rochester property was large decline in rates for through freight and the heavy rentals paid (P. Ft. W. & O.), 26 miles; total operated, 226 miles. The and lease transreduced tho company's income so that no further dividends were paid leased for 999 years from Dec. 1, 1871, to Penn. RR. Co., existing capital until February, 1880, and none after that till February, 1 83. In 1882 ferred to Pennt Co. May 1, 1872. Rental, 7 per cent on assuming all lialessees the company acquired control of the Indianap olis & St. Louis, and made and $10,000 par year for company expenses, the old stock was the but cent, per 10 were lease a n ew lease of tlie St. Louis Alton & T erre H aute Railroad. The sinking bilities. The terms of the amount. in increase an by stock cent per 7 a into converted subsequently of option at canceled be may bonds consolidatecl of fund provl sion In 1 882 surplus income over oharges to lessee ·was $47t.951. This holders, and the bonds so stamped. November 30, 1882, stated The annual report for 1884 was in the CHRONICLE, V. 40, p. 392, and company's annual report for the year endingthe Pennsylvania. Railroad contained the following, the tables including the lJ. C. C. & I. only: that final settlement had been made with to this company, as remaining assets surplus of matter the in Company ween bet company the by controlled lines the "The opera.tin/$ results of closing its business, which surplus accrued Indianapolis aua St. Louis have not equaled expeotatious.'' * * * of the d.ate of the lease, after or November agreement supplementary the of tet·ms the by lessee the to Alton Louis St. the with Louis, St. & Indianapolis the "These properties, & Terre IIaute roads, have now been brought with their equipment i nto 30, 1871. "The total amount transferred as a u thorizeu by the board truostandard condition, and the l arge outlay requisite to their practical of directors is $202,291. This sum has been charged against conited to recon st1 n otion, whlch has been made during the past two years, sub- tion, meeting the old b alance of net earnings-$390,138-cred stantially completes the work. On account of theae properties for the construction rn the year 1880." were: 31) December (ending years four for earnings Operations and purposes named thero has been ad va.noed by this company during the Div. Net Gross 1,ear the sum of $1,087,293. To the Cin. & pr. R'way, to m eet a d e:fl.L:itin Passenger Fr~I~ht (ton) Earnin"'S. Earnings. p.o. .M.lieage. Mileage. its over,Ltions during 1884, and for the expense of some new track and Years. Miles. addition al land. there has b een advanced the sum of $162,179." * * * 188 1. ..... 226 22,26G,486 211,190,'906 $3,112,021 $1,507,131 7 "The bonded debt of the company has been increased during the year 18~2 .. .... 225 23,234,059 215,901,749 3,353.363 1,734,467 7 by $1 ,521,000, and now stands at $8,816,000. 'rhe cau se for this 1 83 ...... 224 24,071,544 228.440,527 3,089,55 1 1,346,508 7 878,865 7 increa e, herein alluded to for the purpo es of securin~ this company's 18 4 ...... 223 22,483,843 209,297,980 2,591,516 owner hip and control of the lines b etween Indianapolis & St. Louis, Cleveland Youngstown&: Pittsbnrg.-Standard-g auge road and bringing the same into standard condition for operating, has been and fully e:l!.plai ed in the preceding annual r eport. This work, which had in prog-ress frvm Sollthington, 0., to Steubenville, 0., 100 miles, Bergholz, 0., to Phalanx, 0., 70 been d eliberately entered upon during the summer of 1882, is now sub- 32 miles branches. In ope ration from ·net, $44,883-84, 1 in $17,372; $43,435; 1882-83, in arnin~s E . mile stantially ei:ided.'' 694; net, $7,900. In March, 1884, Robert Martin, of Steubenville, 0., 1 884. 1 883. 1882. 1'-81. was appointed receiver. Stook, $1,000,000. Henry W. Ford, Presi391 391 391 301 Miles owned.......... dent, 15 Cortlandt St., New York. . OperationsColebrookdale.-0wns from Pottstown. Pa., to Barto, Pa. 13 938,647 · 976,468 89:),330 1,035,764 Passengers carried... ·-1._·g, miles. Leased for 20 years from Jan. I, 137 0, toPhlladelphia & Rea run. 42,176,610 43,548,617 44,75t982 41,689,179 Passenger mileage ... . ot 2·133 cts. 2·217 2·159 otR. 2·23::> cts. Rate 1)1 pass. ~ mile. $61,270; Freight (tons) moved 2,880,923 2,755,867 2,527,993 2,347 ,7 92 at 30 per cent of gross earnin&"s. Gross earnings in 188~-83, $57,698; Freight (ton~) mil'ge.480,723,710 447,411).484 408,436,350 397,67 8 ,2 7 8 net earnings (30 per cent rental), $18 ,381. Gross in 1881-82, 0·70o ots. 0·751 ots. 0·633 ots. net, $17,309. Capital stock, $297,215. 0 ·671 cts. Av. rate~ ton 1)1 mile Colntnbia &: Greenvllle (S. C.)-The company owns from $ $ $ $ Earnings899,435 Columbia,to Greenville, S. C., 143 miles; branches to Abbeville and 965,693 1,000,270 899,!HS ...... .... Passenger.. Freight.... . . . . . . . • . . . 3,225,356 3,159,4.17 3,06 ,717 2,5 18 ,873 Anderson. 21 miles; total, 164 miles. Also owns Laurens RR., 31 miles; 182,038 and leases Blue Ridge RR., 32 miles, and Svartanburg Union & Col. RR., 178,697 178,788 165,076 Mail, express, &o.. . . - - - - - - - - - - - - - - 61:1 miles. Total operated, 296 miles. In 1878 a Receiver took possession or the Greenville & Columbia and the road was sold in foreclosure April 3,600,34.6 4,213,107 4,338,475 4,290,350 earn'gs. <:;,,otal gross 2,756,749 15, 1880, and reorganization was made under this name; preferred 3,018,332 2,963,778 Operating expenses. 2,967,169 - - - - - stock, $1,000,000; common stock, $1,000,000; all in $100 shares. Net earnings ..•...•.. $1,323,181 $1,374,697 $1,194,725 $843,597 A maijority of the stoclc is held by the Richmond & West Pt. Terminal Co. The gross earnings on all lines in 1882-83 were $836,375; net. INCOME ACCOUNT, i299,1 08 ; inter€st, $202,650; rental, $50,000. In 1883-84, gross earn• $ $ $ Recei,pts$ $640,720; net,$ i 90,676; interest and rentals, $199,733; deficit, ings, 843,597 1,323,181 1,374,697 1,194,725 (V. 39, p. 297, V. 40, p . 541.) $9,056. 211,396 129,497 103,125 86,271 Colorado Central-(See Map of Union Pacijlc)-Denver to Golden 13,805 165,531 94,305 32,240 ~ eelia.!leous .•...••. 16 miles; Golden to State line, 106 miles; Denver Junction to La Salle. Total income ••••• 1,441,692 1,572,127 1,489,753 1,068,798 151 miles, and narrow gauge line trom Golden to Georgetown, 34 Disbursements- - - - - ----- f:!f:i~i\iiterest: https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis DECEMBER, RAILROAD STOOKS AND BONDS. i895. 37 Subscribers will eonCer a great Cavor by giving immediate notice oC any error discovered In these Tables DESCRIPTION. INTEREST OR DIVIDENDS. Bonds-PrinciMiles Date Size, or A t pal, When DueFor explanation of column heading;s, &c., see notes of of P1,1 Out:~~"' Rate per When Where Payable a.net by Stocks-Last on first page of tables. Road. Bonds Value. ° Cent. Payable Whom. Dividend. - - - - - - - - - - - - - - - - - - - - - -1---- - - - - - - - - - - --1 - - - - - - - ---·-------- 1- - - - - Columbus Hocking Valley t:i Toledo-(Co'Yltinued.J- Consol. mortgage, gold {for $14,500,000). - - .. - - .. {)ol. & H. V. lat mortgage, sinking fund bonds . . Col. & H. V . 2d mort-gage bondi, ..... ·-··--······· Colwnbus & Toledo, 1st mortgage coupon, a. f .. - . do 2d mortgao-e coupon, a. f .... Ohio & W, Va., 1st M. (s. f. $15,000 b egins in '86) Columbus Springfield & Cincinnati- lat mort ... - . Columbus & Western-lat mort. (end. by Cent. Ga.) Columbus & Xenia-Stock ........ , ..... : ............. o:~~o~cZ=.i~~t·.·.·.·:::::::::::::::::::::::::::::::::: Conc01·d & Claremont-Bonds . . _... _... _... _.. - .... - . Concord & Portsmoutllr-8tock, guaranteed ......... Oonnecticut Centrair-lstmortga.ge, cp. or reg ... ·-··· Oonnecticut & PasS'lwipsic-Stock . . _... __ .. - - ....... Mortgage bonds.·-··········-····-···-··--··-······ Massawippi st'k, guar. same div. as Conn. & Pass. do bonds, guar. by Conn. & Pass ........ Newport & Richford \>onds, guar. by C. & P .... - . Oonnecticut River-Stoc.1r. ......... _..... . . - .. - - ..... Oonnecting ( Phila. J-lst mortgage .......... - ...... Oonsol, RR. of Vermonf-lst mortg. (for $7,000,0UO) Missisquoi Railroad bonds ...... . ... ............... Corning Cowanesque & Antrim-Debenture bonds .. Oumbe1·land & Pennsylvania-lat mortgage._ -..... 2d mortgage, sinking fund, I guaranteed) .. _... _... Oumberland Valley-Stock ($484,900 is preferred>. 1st mortgage.·-·· __ . . . _....... _...... --· .. -· ---··--· 2d mortgage, sinking fund guaranteed ..... - - .. - •. Southern Pennsylvania, 1st mortgage, gold.. . .. Danbury dl N orwallc--Stock . ••................•..••. 1st and 2d mort~ages ...................... --······ 324 121 121 118 118 83 45 60 55 55 142 71 41 29 147 110 37 37 22 80 7 185 ·"is 1881 1867 1872 1875 1880 1880 187i 1881 ·--- 1860 i874 ---· ---· 1873 .1875 i870 1881 i864 1883 1871 1883 1866 1868 38 38 82 --·· 52 5~ 24 3612 33 '70-;72 --·· ---· ·-·· $1,000 $8,000,000 500&c. 1,401,000 1.000 777,000 1;000 2,500,000 1,000 479,000 1.000 1,584,000 1,000 1,000,000 1,000 677,000 50 1,786,200 1,000 302,000 1,500,000 50 500 &c. 500,000 100 350,000 500 &c. 325,000 100 2,244,400 100 &c. 1,500,000 100 400,000 400,000 1,000 1,000 350,000 100 2,370,00U 1,000 991.000 100 &c. 6,000,000 500 &c. 500,000 1,000 1,250,000 1,000 803,500 1,000 429,000 1,777,850 50 500 &c. 161,000 500 &c. 109,500 625,000 ""ifo 600,000 400,000 100 &c. miles, and Forks Creek to Central City, 11 mlles; leases line frol,1 Colorado Junction to Wyoming State line, 9 miles; total oper?,ted, 327 miles. Chartered in 1865, and main line opened in 1870. rt is owned by the Union Pacific. The new mortga_ge bond was issued to take up the old 8 per cent bonds, of which $87,000 are yet out. Stock, $6,230,300. Gross earnings in 1883, $1,543,556; net, $553,898; interest and dividends, $4.60.036; surplus, $93,262. In 1884, gross earnings, $1,492,142; net, $524,008; interest and dividends, $429,484; surplus, $d6,952. Oolumbla & Port Deposit.-Owni, from Columbia, Pa., to Port Deposit, Md., 10 miles. Leased to and operated by Pennsvlvania RR. Co. Rental, net earnings. Net earnings in 1883, paid to lessors, $46,967. Capital stock, $497,100; funded debt, $1,882,000, and floating debt (coupons), $722,470. Oolumbus Hocking Valley & Toledo.-Owns main line from Toledo to Pomeroy, 257 miles; branches-Logan to Athens, 26; Logan to Straitsville, 13; Straits·e to Nelsonville, 17; others, 11; total,324. This was a consolidation in July, 1881, of the tJolumbus & Hocking Valley, Columbus & Toledo, and Ohio & West Virginia. The stocks of those companies were purchased and new consolidated stock for $20.000,000 authorized; in August, 1885, a stock dividend of 1338 per cent was made, bringing the total outstanding up to $11,700,000. Of the consolidated mortgage $6,500,000 was reserved to meet the prior liens. The Central Trust Co. cf New York is trustee. A combination was made in 1885 with the r eorganized Ohio Central by which the company will be under one management, as per the circular in v. 40, p. 59 7, and the C. & H. V. guarantees the interest on the T. & O. C. 1st mortgage bonds. The earnings of 18,;4 were greatly reduced by the miners' strike in the Hocking Valley, lasting from June, 1884, to March, 1885. Statement of earnings and income for four years is as follows, not includiu_g $50,000 received afterward from the Ohio Central in settlement of pool balance.a for 1884. · 1881. 1882. 1883. 1884. Miles of railroad...... 322·50 324·00 324·00 324·00 Gross earnings .... ___ $2,519,794 $2,886,437 $2,779,382 $1,84.2,473 Operating expenses.. 1,329,137 1,752,734 .!.,655,569 1,240,654 Netearnings ........ $1,rn0,657 $1,133,703 $1,123,821 $601,819 P. c. exp. to earnings. 52·75 60·72 59·56 67·23 Interest on bonds.··-· $620,887 $866,060 $866,060 $866,060 Interest on debt...... 12,650 27,597 35,725 56, 815 Rentals.--····. .. ..... 23,337 22,787 22,628 22,277 Balance-credit...... 533,783 216,465 199,399 def.340,333 -(V. 39, p. 49 3 ; V. 40,p. 597,610; V. 41, p. 102, 51:>7.) Oolumbus Springfield & Cincinnati.--Owns from Columbus, Ohio, to Springfield, Ohio, 44 miles. Leased with Cincinnati Sandusky & Cleveland to Indiana Bloomington & Western, May 1, 1881, for 3313 per cent of gross earnings, with guarantee of $80,000 as minimum. Of the excess over mini• um, if any, on 33 1 3 basis, this company takes one-fifth and Cincinnati Sandusky & Cleveland four-fifths. Capital stock, $1,000,000, and bonds, $1,000,000. Oolulllbus & Western.-Owns from Opelika to Goodwater,Ala. 60 miles, and Columbus to Opelika, 29 miles-total 89 miles. The Sa,vannah & Memphis RR. was foreclosed June 5, 1880, and this Company organized. Bxtension was in progress from Goodwater to Birmingham, Ala. The bonds are endorsed by Oen. RR. of Georgia. Gross earnings in 1883-84. $176,31!'>; net .. $62,076; interest paid, $63,820. Gross in 1882-3, $176,370; net, $60,963; interest paid, $61,990. Stock, $1,750,000. w. G. Raoul, President, Savannah. Oolumbus & Xenia.-Owns from Columbus, Ohio, to Xenia, Ohio, 55 miles. Is operated as a division of the Little Miami, and is leased for 99 years in connection with that road to the Pittsburg Cincinnati & St. Loma, which pays 8 per cent on stock a~d pr:ovides for the bonds. The lease is guaranteed by the Pennsylvarua Railroad Company. The Columbus & Xenia pays 825 per cent dividend per annum. Concord.-Owns from Concord, N. H., to Nashua, N. H., 35 miles; :Manchester & North Weare, 19 miles; Hookset Branch, 7 miles; leasedConcord & Portsmouth, 41 miles; Suncook Valley, 20 miles; Nashua Acton & Boston, 20 miles; Manchester & Keene RR., 30 miles; total operated, 172 miles. Fiscal year ends March 31. Annual report, in V. 4.0, p. 651. Income account has been as follows: INCOME .ACCOUNT. 1882-83. 1883-84. 1884-85. Gross earnings .......... _......... $1,327,880 $1,142,894 $1,100,864 Net earnings ... ~.... ....••....... $430,318 $476,190 $406,379 Disbursements- Rentals.-· ...... ____ ·-•.• .........•. Taxes on stock ................... . Improvements ... ... _...•..• - .. - - • Dividends, 10 per cent ..••.. - ....• TQ 1111 W~Ql_lff!ements ··-··--··· Balance .. _..••. . .........••..... - --<V .40, p. 651; V. 41, p. 3!15.) $148,872 $144,593 $113,319 33,798 37,360 37,755 ~7,264 143,236 104,091 150,000 150,000 150,000 $429,934 $475,189 $405,165 Sur, $38i Sur. ~n,001 Sur. $1,214 Concord ~ Olareinont.-Owns from Concord to Claremont, N. H., 56 miles; branch, Contoocookville to Hillsboroug;h, N. H., 15 miles; leased-Peterboro & Hillsboro BR., 18 miles; total operated, 89 miles. Capital stock, $410,900, Operated by Boston & Lowell RR. Co, at a rental of $41,500 per year, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 5 g. 7 M. & S. N. Y., Winslow, L. & Co. A.. & O. do do J. & J. do do F. & A. do do 7 M. & S. do do 7 M. & N. do do 7 M. & S. Bost.,3 Merchants' Row 6 J. & J. N. Y., Nat. City B'k. 2 Q.-M. Columbus Treasury. M. & S. N. Y., Am. Exch. N. B'k 7 5 M. & N. Bost.&Manchester,N.H. J. & J. Bost., Treasurer's office 7 312 J. & J. Bost.&Manchester,N.H. 7 A. & O. New York City. 2¼ F. & A . Boston, 95 Milk Street 7 A. & 0. do do 212 F. & A. 6 g. J. & J. do 5 J. & J. do J. & J. Boston, Springfield, &c. 4 6 M. & S. Phila., Penn. RR. Otfice. J. & J. Bost.,Am. Loan&Tr.Co. 5 ,J. & J. St. Albans, W. C. Smitll. 7 !II. & N. Phila. F. I. T. & S. D. Co. 6 6 M. & S. N.Y., Consol.Coal Office 6 M. & N. do do 21i} Q.-J. Phila.. and Carlisle. Pa. A.. & O. Phila.t T.A.. Biddle & Co. 8 A. & O. no do 8 7 g. M. & S. 3 Various New York and Danbury J. & J . .N. Y., Central Trust Co. 7 7 7- Sept. 1, 1931 Oct. 1, 1897 Jan. 1, 1892 Aug-. 1, 1905 Sept. 1, 1900 May 1, 1910· Sept. 1, 1901 Jan. 1, 1911 D ec . 10, '!.~85Sept. 1, 1890 Nov. 2, 18851894 Dec .. 1885 Oct. 1, 1895 Aug. 1, 1885April 1, 1893 Aug. 1, 1885Jan. 1, 1890 Jan. 1, 1911 Jan. 1, 18861900-'l-'2-'3-'4 July 1, 1913 Jan. 1. 1891 May 1, 1898 March 1, 1891 May 1. 1888 Oct., 1885 April 1, 1904 April 1, 1908 Mar. 1. 1900 Aug. 16, 18851890-92 Ooncord & Portsm.outh.-Owns from Portsmouth, N. H., to Manchester N. H.. 4012 miles. The road was sold to first mortgage bondholders in 1857, aL.:l leased to Concord RR. i.n 1858. Lease rental is $25,000 a-year, which gives 7 per cent a year to present stockholders. There is no debt. Connecticut Central.-Owns :(!'om East Hartford, ct., to Massachusetts State Line, 20 miles; branch from Melrose to West Street, Ct., 7 miles ; total operated, 28 miles. L eased to New York & New En°'land RR. for 15 years from June 1, 1880, the rental to be net earnino-s, but never to exceed 6 per cent per year on stock. Capital stock, $448,gOO. Funded debt, $325,000, all owned by New York & New England Railroad. -(V. 4.0, p. 181, 624.) Oonnectlcut & Passutnpsic.-Owns from White River Junction Vt., to Canada Line, 110 miles; leased, l\fassawippi Valley and branch (Canada), 37 miles; total operated, 147 miles. The lease of Massawipp1 Railroad is at 6 per cent on bonds and same dividends as are paid on the stock of the lessee. Notes out'3 tanding August, 1885, were $297, 000. Fiscal year ends June 30. Abstract of last r eport in V. 41, p. 391. Gross earnings in 1884-85, $797,526; net, $2!::19,415. Gross in 1883-84, $837,940; net, $299,150. {V. 41. p. 391.) Connecticut Klver.-Owns from Springfield, Mass., to South Ver non, Vt., 50 miles; branches, 6 miles; leased Ashuelot RR., South Vernon, Vt., to Keene, N. H., 24 miles; total operated, 80 miles. Fiscal year ends September 30. Net income, 1883-841 $269,794; 1884-8!'>, $272,222. Pays regular dividends on stock ana has no funded debt, but notes payable, $625,000. (V. 39, p. 522; V. 41, p. 688.) Connecting (Philadelphia).-Owns from Mantua .Junction to Frankford Junction, Pa., 7 miles. A connecting link in Philadelphia to the West and South. OperatP.d by Pennsylvania Railroad. Rental, 6 per cent on capital stock, $1,278,300; and interest on funded aebt,. $991,000. The bonds are issued in series AB C and D, maturing respectively in 1900-'l, '2, '3 and '4. Consolidated Railroad oC Verlllont.-Road owned-Windsor, Vt., to Burlin5ton, Vt., 120 miles; Essex Junction to Rouse's Point, 65; Swanton to i:;tate line, 10; totaJ., 185 miles. Leased-Addison RR., 16 miles; l\1ontpelier & White River RR., 6; Montreal & Vt. Junction RR., 26; Rutland RR., 120; Stan. S. & Cb. RR., 43; Vermont & Mass., 2l; New London No., 100; Brat. & Whitehall RR., 36. Total owned, leased and operated, 517 miles. In August, 1 88!, secm·ed control of the Ogdensburg & Lake Champlaw. RR. In July, 1885, the Grand Trnnkof Canada purchased control of the stock. · This is the title of the corporation formed on the reorganization of the Central Vermont and Vermont & Canada companies in 18d3. On .July 1, 1884, the old receivership was finally closed b.v order of Court and the transfer made to the Consol. of Vermont, which l eased all its roads in perpetuity to the Central Vermont RR. Co. The holders of the first and second mortga~e bonds filed articles of association with the Secretary of State of Vermont on April 24, l 883, for organizing the new company. Preferred stock is $750,000, with ])reference of 6 per cent per annum if earned; common stock, $350,000. {See scheme of reo12~anization in v. 35, p. 1 25.) The Central Vermont, which operated au this mileag& in 1884, reported earnings $3,150,072 gross and $1,062,241 net; rent of leased lines $631.532. (V, 39, p. 208; V. 40, p. 269, 682.) Corning Cowanesque & Antrlm..-Owns from Corning, N. Y., to Antrim, Pa., 53 miles; branch, Lawrenceville to Harrison Valley, Pa., 32; total operated, 85 miles. Consolidation {January, 1873) of the Blossburg & Cornina- RR. and the Wellsboro RR. J·une 1, 1874 the Cowanesque Valley RR. was absorlled. These lines are leased to and operated by the Fall Brook Coal Co., together with 7 miles owned. Rental paid-6 per cent on bonds, 6 per cent on common stock and 7 per cent on preferred stock; dividends paid quarterly, March 31, &o. Stock-common, $1,500,000, and preferred, $500,000. The coal line of Phila. & Reading and N. Y. Central is over the road of this company which jointly guarantees the bonds of the Jersey Shore Pine Creek & Buffalo road. Earnings in 1883-84, $591,627; net, $171,758; rental paid C. C. & A. RR., $ l50,000; surplus to lessee, $21,757; in 1883, loss to lessee, $26,848. George J. Magee, Prest., Watkins, N. Y. Cumberland & Pennsylvania.-Owns from Cumberland, Md. to Piedmont, Md., and several branches, 65 miles. It is owned and operated by Consolidation Coal Co., wbicb guarantees second mortgage. Culllberland Valley.-Owns from Harrisburg, Pa., to Potomao River, Md., 82 miles; leased-Martinsburg & Potomac RR., 12 miles; Dillsburg & Mechanicsburg RR., 8 miles; Southern Pennsylvania, RR., 23 miles; controlled, Mont Alto RR., 18 miles, lmt accounts kept separate; total contr-.>lled and operated, 141 miles. Owns or leases several factory roads, in all about 43 miles. The stock is owned in large part by Pennsylvania RR. Co. Large advances have been made to branch roads. Operations and earnings on the main line for four years past were as follows: Freight {ton) Gross Net ,-Div. p. ct.Y. ears. Miles. Mileage. Earnings. Earnings. Pref. Com. 1881.. _...... _-· 125 18,364,654 $693,637 $220,616 10 10 1882 ..•... --·. _. 125 21,673,'134 762,886 2n, 190 10 10 1883 ••••..••. .•. 125 30,018,284 871,389 237,564 10 10 1884 .. _...•.. _•. 125 27,965,208 844,515 215,230 10 10 Danbury & Norwalk.-Owns from Danbury, Conn., to Wilson Point, South Norwalk, Conn., 2612 miles; branches to Ridgefield and Hawleyville, together 10 miles; total operated, 3612 miles. Dividends ha.ve been irregular. Operation.e and earnings for three years pa.st were: .~.J 38 RAILROAD STOCKS AND BONDS. [VOL. XLI Subscribers w-lll conCer a great Cavor by giving im1nediate notice oC any error discovered in these Tablel!l. Bonds-Prine!INTEREST OR DIVIDENDS. DESCRIPTION. When Due. Miles Date Size, or A.mount Rate per When Where Payable, and by pal, Par Stocks-Last of For explanation of column h eading-a, &c., see notes of Whom. Dividend. Road. Bonds. Value Outstanding Cent. Payable on first page of tables. ------ - - - - - - -· - - - Danbur.lJ cf Norwalk-(0ontinued)- Consolidated mortgage._ ......... . .... .. .......... ---'G-eneral mortga~e ........................ - .... -.. - - 3612 100 1 55 141 141 .3d mortgage ........................................ 142 Consol. mortga~e, guar. by C.H. & D ............. 142 Toledo Depot 2d mortgage .••...••.......•.... -. . ":fo Dayton & Union-lat mortgage ....................•. Income mortgage bonds ......................... -.. '¥i Dayton cf Westeni-lst M., guar. L. M. and C. & X. 85 Det.iware-Stock . ..... ............. ................ .. 85 Mortgage bonds, convertible, guar. P. W. & B .... 31 Delaware & Bound Brook-Stock, guaranteed . ... . . 27 1st mortgage ... .......• .. ............. . - ....... -.. 2d mortgage debenture bonds, reg ................ s~i6 Delaware Lackawanna cf Westeni-Stock ........ . . Consol. mort., on roads & equipm't, ($10,000,000) 288 Plain bonds (not mortgage) ......... ........ ....... 47 Vel. Maryland cf Va.-Junc. & Breakwater-lat M. 47 June & Breakwater, 2d mortgage . .•..... ........ 20 Breakwater & Frankford, 1st mortgagP, reg .. ... 36 Worcester Railroad, 1st mortgage. coupon .. ...... .f )enver& New Orleans-lat mortgage ...... .... ..... Denver cf Rio e1·ande-Stock ...........•...•......... 1,:fi,j lat mort., gold, sinking fund . .................... . 295 lat consol. mortgage ($15,000 per mile) . ... . ..... . All. g:~r~:1~t~v;~~J~~~~:~ _(:~_r_-~5-~,-~~?:?.~~~:::: .... . Dan-r,.0lneycf 0.Riv.-lat (for$1.000,000) cp.or reg. Dayton cf Ironton-First mortgage, gold ..... . ...... Dayton cf Michigan-Com. stock (3-'2 8-1-ar.C.H.&D.) Preferred stock, (8 percent. guar. . H. & D.) . .. . ---- 1880 1883 1880 1885 is1i 1869 1881 1864 1879 1879 1864 i875 1875 ---· i877 1872 18CO 187~ 1873 ---· ..... $ ---· 100 500 &c. 1,000 50 50 1,000 1,000 1:300 1, 00 1,000 25 1,000 . ... . ...... ""ifo ---· 1,000 ·--· --·· --·· "ioo ---· m 6 5 7 6 g. 134 2 7 5 7 7 6 6&7 3 6 2 7 6 1~ 7 7 4 4 4 4 J. N. Y., Central Trust Co. 0. N. Y., Cent. Trust Co. J. La st paid July, 1882. J. Boston, Agency. A. & O. Cincinnati. C.H.& D.Co. Q.-J. N. Y., Winslow, L. & Co. A. & 0. do do J. & J. do do :\:I, & s. do do .J. &D. N.Y., A.m.Exch.Nat.Bk. J. &D. Am Hie a. J. & J. N. y., Ba.iili" J. 6l; J. Dover, Co.'s Office. J. & J. Phil.,Fid. I.T.&.S.D. Co. Q.--F. Philadelphia. F. & A. Phila .. Gua.r.T.& S .D.Co. Philadelphia. M.&N. Q.-J. N. Y., 26 Exchange PL M. & S. do do J. & D. do do Philadelphia. J. & J . F. & A. do • do J. & J. A. & 0. do J. & A. & J. & J. & or' .... ........... 1920 1925 Jan. 1, 1910 Jan. 1, 1925 Oct. 7, 1885 Oct. 7, 1885 Oct., 1888 Jan. 1, 1911 March 1, 1894 Dec. 1, 1909 After 1910 Jan. 1, 1905 July 2, 1885 July 1, 1895 Nov. 17, 1885 May, 1905 Oct. 20, 1885 Sept. 1, 1907 June, 1892 l f: 90 1899 l e~8 1896 ""i½ Jan~ "i4; ·i882 38,000,000 500 &c. 6,382,500 7 g. M."&.N. Ops of M."&N:pd.Dec.' 85 Nov. 1, 1900 J. & J. L ast paid Jan, 1884. Jan. 1, 1910 1880 ·500 &c. 19,740,500 7 1,000 2,500,000 A.. & 0. La~t paid April, 1881. Oct. 1, 1913 1883 5 .... 3,604,000 8, 7&6 10 p. c. yearly. ··-· --·· · --· ·- is1c ---- I Passenger Freight (ton) Gross Net Div' Years. Miles. 1\filea"'e Miiea"'e. Earnings. Earnings. p. c· $61,684 2½ 1882-83 . . 3612 3,672,023 1,588,830 $211,734 85,719 212 1883-84 . . 3612 4,062,690 1,64.4,094 211,658 80, 129 5 1884-85... 3612 4,544,115 2,061,445 220,806 Danville Olney & Ohio Kiv.-This ,:oad was projected from Danville rn., to Olney, and to the Ohio River, 243 miles, of which l l O miles; Danville to Olney are in operation; also 20 miles of Chicago & Eastern Illinois leased. Bonds sold in 1881 at par, with $500 stock given with each $1,000 bond. Stock issued, $1,519,400. In Nov. , 1882, company became embarrassed and receiver appomted. Receiver's certificates, $500,000, 7s. For plans of reorganization, &c., &c., see r eference5 ·below to the CHRONICLE. In Nov., 188!5, a decree of fore , lo,rnre wat> entered. 1V. 40, p. 541; V. 41, p. 306, 584.l Dayton & II·onton. - Road from Dayton to Ironton, 155 miles This company was organized in 1884 as successor to the Southeastern Division of the Toledo Cm. & St. Louis RR., sold in foreclo ure June 26, 1884. The narrow gauge is changed to standard, and the total authorized i!lsne of bonds is $1,700,000. including $400,000 reserved to pay oldclalms. Preferredstockis$2,600,000; commonstock, $2,500,000. (V. 41, p. 720.) Dayton & Michlgan.-Owns from Dayton, O., to Toledo, 0., 141 miles. Leased May 1, 1863, in perpetuity to the Cincinnati H amilton & Dayton. Lease amended J anuary 23, 1870. The rental is the interest and sinking fund of debt, and 8 per cent on preferred stock and 312 p er cent on$1,003,300 common. Of the common stock $l,003,300 only is guaranteed 312 by C. H. & D. Profit to lessee in 1883-84, $16 1,990; 1884-85, $196,387 The lessees hold $1,399,273 of the common stock. Dayton & Union.-Owns from Dodson, Ohio, to Union Cicy, lnd., 32 miles; leased Dayton to Dodson, 15 miles; total opernted, -17 miles. The Greenville & Miami RR. was sold out Oct. 30, 1862, :1,nd re-organized as now in Feb, 1863. Operated by trustees since D ecember, 1871. Capital stock, $86,300. In 1883-4 gross earnings were $136,633 ; n et. $41,136. In 1882-3 gross earnings, $144,24'1; net, ,:37,523. Dayton & Western.-Owns from Dayton, 0., to State Line, Ind., 37 miles. Leased in perpetuity from Jan. 1, 1 65, to Little Miami, and carried with that road in the general lease to the P. C. & St. L. The lessees are virtual owners and are answerable for all obligations. Delaw-are.-Owns from Delaware Junction (P. W. & B.), Del., to Delmar (Md. Line), 84 miles; branches, 16 miles; total operated. 100 miles. The Dorch ester & Delawar e and Queen Anne & K. railroads now operated by P. W. & B . RR. The D elaware Railroad was opened 1855-60, and· is leased for 21 years from 1876 to the P. W. & B. Co.; rental 30 per cent of gross earnings, but stock must have 6 per oent. Gross earnings 1882-83, $614.,606; net, $184,382; 1 883 -84, ~ross, $637,673; net, $191,272; int. and dlv'ds. $130,590; surplus, $60,681. Delaw-are & Bound Brook.-Owns from Bound Brook (Cent. 01' New Jersey) to Delaware River, 27 miles; branch, main line to Trenton, 4 miles; total operated, 31 miles. In connection with Central of New J ersey: and North Pennsylvania forms a line between New .<ork and Philadelphia. In May, 1879, the property was leased for 990 years to the Philadelphia & Reading Railroad Company-the lessee paying interest and 8 per cent on stock after May, 1883. Gross earnings ill 1882, $693,525; net, $326,334. In 1883 gross, $720,654; net, $356,544. In 1884, ~oss, $729,157; net, $315,'146; rental, $257,880; net profit to lessee, $57,566. Delaware Lackaw-anna & Western.-This company owns and operates under l ease ?,n extended system of roads in New Yo1;k, P ennsylvania and New Jersey, which requires a map to show the strength of its location clearly. Owns from Delaware River (N. J. line) to New York State line. 115 miles; branches-3cranton to Northumberland, 80 miles; Greenville to Winton, Pa., 8 miles; to Storrs, 3 miles; Junction to Keyser Valley, Pa., 5 miles; leased lines in New York-N. Y. Lack. & Western RR., 2;4 miles ; Cayulta & Susquehanna RR., 34. miles; Greene RR. 8 miles; Oswego & l::!yracuse Railroad, 35 miles; Utica Chenango & Susquehanna Valley RR., 97 miles; Valley RR., 12 miles; controlled and operated-Syracuse Bin 00hamton & New York, 81 miles; leased lines in New J ersey-Chester RR., 10 miles; Morris & Es ex, 118 miles; Newark & Bloomfield, 4 miles; Warren RR., 18 miles; Sussex, 30 miles; Passaic & Del., 14; total operated, 886 miles; the Rome & Clin., 13 miles, and Utica Olin. & Bing. , 31 mil , were smTendered April, 1883. In 1882 the important connection to Buffalo, the N. Y. Lack. & West. was opened, and the road was leased by thls company. The Lackawanna & Bloomsburg was consolidated with this company June 19, 1873. The Delaware Lackawanna & Western management has furnished little lnformation concerning its earnings or finances, no annual r eports in pamphlet or monthly statements of earnings having been issued. The road was operated mainly as a coal carrier and distributer till 1882, when the line from Binghamton to Buftalo was built and leased to the Delaware Lackawanna & Western, and the company entered the field as a competitor of t he trunk lines between New York and Buffalo. The Dela.ware Lackawanna & Weste1n formerly paid 10 p er cent on its stock, but its numerous railroad leases became onerous, and in the dull tm:ies. _1876 to 1880, no dividends were pa.id; in 1880 3 per cEnt waa paid; m 1881, 6~; in 18l'S 2, 1883, and 1884, 8. Prices of stock yearly since 1870 have been: 1871,U021.Hll¼; 1872, 9l@li2¼; 1873, 79¼-al06; 1874, 99@11238; 1875:106¼'@123; 1876. 64¼'@12038; 1877, 30 7a1b77_; 1878, 41 @61 78 ; 1879, 43@94; 1880 68¼ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $100,000 150,000 !SOl,000 1,300,000 2,402,573 1,211,250 351,000 2,324,000 5H,OOO 225,000 173,000 495,000 1,515,338 650,000 1,692,000 1,500,00U 192,000 26,200,000 3 ,074,000 600,000 400,000 250,000 200,000 400,000 @11014; 18811 107@131; 1882, 11614@15014; 1883. 11112@131¼; 188 ", 86%'@ 13318; m 1855, to Dec. 18, 825aa>1295g. The following i a synopsis from the company'e income account for four year~; the operating expenses include amounts spent for oetterments: $385,033 in 1884, ;fil,u72,816 in 1833, and $931,701 in 1882. . 1881. 1882. 1883. 1884. $ . $ $ $ Gross rec'ts. all sources . 27,396,526 27,006,267 32,81~.606 31,311,992 Operating expenses . ... 19,632,662 20,163,078 24,165,864 23,393,180 Net receipts............ 7,763,864 6,843, um 8,658,74i 7,918,812 INCOME ACCOUNT. Net receipts..... . . . .... 7,763,864 6,843,189 8,653,742 7,918,813 Interest and rentals .... 3,558,4 94. 3,620,708 4,946,943 5,113,322 Balance, surplus....... 4,205,370 8,:l:l:l,481 3,706,799 2,805-:-490 Dh-idends... .. . ... . .. . 1,768,500 2,096,000 2,096,000 2,096,000 ___8__ 8 Rate of dividends .... ._ _ _6_34 _ 8 Balance after divid'ds. 2,436,870 1,126,481 1,610,799 709,490 GEYERAL BALANCE AT CLOSE OF EACH FISCAL YEAR. Assets1881. 1882. 18~3. 1884. $ RR. buildin~s, equip $ $ $ m't coal lands, &c .. 30,873,357 32,072,S60 33 ,0 89,3~ 6 34,250,418 5,449,713 Stks&b1s ,own' d,cost 6.26 :S,52 1 5,763,146 6, 503,851 Netcash&cur.acc'ts *769,469 *377,851 *147,987 *527,121 Materials, fuel, &c... 1,121,850 1,34.2,820 1,265,310 l,O<Hl,712 Total. ...... .. ... 89,080,197 89,556,677 41,007,034 41,276,965 Liabilities- Sto ck . . .. . . . . . . . . . . . 26,200,000 26,200,000 26,200,000 2d,200,000 Funded debt......... 4,044,900 4,044,900 4,0-14,900 4,044,900 Balances .... .. ....... 1,200,COO l-i00,000 439,560 Surplus account..... 7,585,297 8,7l l,777 10,322,574 11,032:065 Total liabilities ... . .. 39,030.197 39.556,677 41,007,034 41,276,965 * Net balance between liabilities anrl assets. -(V. 39, p. 587; V. 40, p. 151, 241, 26'7, 588; V. 41, p. 190, 558.) Delaw-are :Jiaryland & Virglnla.-Consolidation June 1, 1833, of the Junction & .Breakwater, the Breakwater & Frankford and the Worcester railroads. Road extends from Harrington to Lewes, D el., 4.0 m1les, and from Geor~etown to Franklin City, Va., 55 miles; branch to R ehoboth, Del., 5 miles; total, 100 miles. In JL1ly, 1885, the company passed into control of the P.lilla. Wil. & Balt. RR and became part of the P enna. RR. syst em. Gross earnings in 1883-4, $171,611; net, $37,102. -(V. 41, p. 13 q · Denver & New- Orleans.-PrQjected from Denver, via Pueblo to the Canadian River, 350 miles, and in 1882, Denver to Pueblo, 120 miles, and 13 miles branches, had been completed. Built by a Construction Company. See circular in V. 35, p. 601. In 1883 the Construction Co. became embarraaed and $2,286,000 boncls and $2,540,000 stock pledged were sold by the Mercantile Trust Co. on Sept. 20. Jno. Evans, President, Denver. (V. 39, p. 522; V. 40, p. 28 ; V. 41, p. 241, 494.) Denver & Kio Grande (3 Ceet.).-Owns a line from Denver City, Uolorado, via Pueblo, Salida, Gunnison, Montrose and Grand Junction, to the western boundary of Colorado. where it connects with the Denver & Rio Grande Western, to Salt Lake City and Ogden, making the distance from Denver to Ogden 771 miles, and from Pueblo to Ogden 651 miles. Bra. ext end to L eadville, Dillon, Red Cliff, Crested Butte. Silver Clifl', Chaffee and Hot Springs; also from Pueblo to Silverton, via Cuc hara, Alamosa and Durango, with branches to El Moro. ERpanola., Del Norte and Wagon Wheel Gap; total oper. J an. 1, '85,1,317 miles. The trust deed of the consolidatea mortgage is to Louis H. Meyer and John A.. Stewart, of New York, as trustees, and the bonds were issued at $15,000 p(>r mile. The general mort. of 1833 was issued for an authorized amount of $50,000,000, and enough reserved to retire all prior bonds. In 1884, with a la1·ge dec:·ease in earnings, the company became embarrassed and d efault was made on the consolidated mortgage interest due July 1, 1 88-!, and in .July W. S. Jackson was appointed r eceiver. In November, l l:l4, default was made on th e lat mortgage bonds. The plan of reorganization, as first suggested, w as commented on in the CHRONICLE, V. 39, p. 620, and the proposal is made to foreclose under the consol. mortgage, issue new bonds to the holders, and to a sess the stock $6 p er a bare. The plan was given more in detail in Y. 40, 1;1. 716. The authorized. stock and bonds of the new company would stand as follows: $6,382,500 old first mort. bonds; $35,000,000 first mort. consol. gold bonds, 4 p er cent; $ 24,343,950 5 per cent pref . stock, non-cumulative with voting power; $38 ,0 00,000 common stock, with voting power. Any part of the $35,000,00U new consolidated bonds remaining unuRP-d after tbe reorganization of the co•npa,ny shall be canceled. (See modifications, V. 41, p. 566.) The proceeds of assessments upon the old sto0k ($6 per share if paid before Jan. 1, 18961 and $8 per share thereafter) and general mortgage bonds are placed with special trustees, to be applied to payment of ex.isting floating debt and of the expenses of foreclosure and reorganization, to betterments and to equipmen.t, as directed respectively by tl:te OommittAe of Reorganization and by the reorganized company. The Committee of Reorganization had power to make such changes in the details of this plan a!.' they considered to be for the best interest of all parties, and their settlement with the equipment trust bon.dholders was mentioned in V. 41. p. 420, and modifications of the plan embracing the proposed absorption of.the Denver & Rio G. Western were in V. 41, p . 556. DECEMBER RAILROAD STOCKS AND BONDS. 1885.] 39 Subscribers will con.fer a ~reat .favor by giving immediate notice o.f any err,o r disco-w·e red ln these Tables. DESCRIPTION. For explanation of column headings, &c., see notes on first page of tables. Denv.& R.Gr. WeHt.-lst, g. ($16,000p.m.),cp.or reg. Coupon certificates (V. 41, p. 273) ................ Denver So-uth Pm·k <f: Pacific-:::stock .. .. ....... . . ... 1st mortgage, gold, sinking fund ..............•... Consol. mort. gold ($17,000 per mile) . ........... Des Moines <f: Ft. Dodge-1st mort., coup . ........... 1st mortgage, incom'l . . . . . . . . . ..... ............... · Mo~age on extension . .•......... ··········-····· Cert cates secured on lands ................... -,. .. Des Moines Osceola <f: Southern-1st M.($6,000p.m.) Detroit Grand Haven <f: Milwaukee-Stock . . . . . ..... 1st eq uh;iment mortgage, guar ..............•...• ; . Consolidated mortgage, guar..... ..... .. . .. . ...... Sectional mortga§.e (Detroit & Pontiac RR.) . . ... Detroit Hillsdale <f: • W.-Stock .. .. . ..........••.... Detroit Lansing <f: North.-Stock, common .......... Preferred stock ..................................... 1st mortgage ....................................... Ionia & Lansin~, 1st mort., coup., may be reg .... Saginaw & Wes . mort .. guar, ($15,000 per mile) .. Detroit Mackinac & Jfm•quette-lat mortgage ... .... Land grant bonds (income) ........................ Income bonds .....................•............... Dubuque" Dak.-lat M., gold. gu. (payable at 1051 Bonds-Princi . INTEREST OR DIVIDENDS. Miles Date Size, or pal,When DueAmount Par Outstanding of of Rate per When Where Payable, and by Stocks-Last Road. Bonds Value. Dividend. Cent. Payable Whom. ·- 368 .... ---· --1881 $1,000 274 150 ·ss 88 56 1885 ---· 1876 1880 1874 1874 1881 300 isso 189 189 189 .65 260 260 222 59 32 152 ---· .63 143 43 1st mortg-afie, 2d division .......................... Notes to re ire 1st mortg. (redeem at pleasure) .. ...... Duluth <f: Winnipeg-1st mortgage, gold, land grant ···2d mortgage, mcome ........................... ·.... 1 Dunkirk .A.ltegh. Valley & Pittstn,rg-lst mort., gold ·go 2d mortgage ..... ............... . ................... 90 90 3d mort~age ........................................ J)ubuque <f: Sioux Oity-Stock . ........... . ........... ...... 1878 1878 1854 ---- ---· i877 1869 1883 1882 1881 1881 1879 i864 1888 1881 --·· 1870 1870 1870 $ 1882. $ 2,588,857 36,771 1883. $ Net earnings . .... ..... Other receipts.... .... 2,624,750 14 Total income........ 2,624,764. 2,620,ti28 2,732,966 InteI'eat on debt.. .... 1,19'9,541 Ren'l of D.R.G.W. RR. Taxes and miscellan's 169,437 Dividends ........ .... (6) 914,100 1,602,443 2,036,813 317,752 246,:234 l)isbursements- 2,618,435 114,531 ----· ---- M.& S. Last ~ :) 1884. $ 1 •798 , 573 Total disbursements. . 2,283,078 1,900,749 2,600,799 Balance, surplus .. . 341,686 719.879 132.167 ... ... . . -(V. 40, p. 181,453, 480, 508. 652, 716, 763: V. 41. p. 76, 102, 113, 133, 189, 241, 306, 330, 356, 420, 445, 4 72, 556, 58 t, 688, 720.) Denver & Kio Grande Western (narrow gauge).-The mortgage eovljred lines in Utah Territ<?ry of about 4o9 wiles in aU, of which there were completed 368 miles, Salt Lake City to Pleasant Val• ley coal mines, 106 miles, Bingham .Junction to Alta, 18 miles • Bin a-ham. .Junction to Bingham, 16 miles; Clear Creek to P. v. Junction 1°4 miles; P. V . .Junction to Colorado border, 176 miles; from Salt Lake City to Ogden and branches, 37 miles. The stock issued on 469 miles $7,500,000. .A.bout $1,000,000 bonds have also been issued on road only par~~ally com_pleted. The road was leased for _30 years to the Denver ~ Rio Grande, at 40 per cent of gross earnmgs, with a guaranty of mterest by the lessee on $7,500,000 1st mortgage bonds so far as issued. In .A.u9,ust, 11:i84, W. ~- :Bancroft was appointed r eceiver of the D . & R. G.W. The gross earnmgs from .July J 2, 1881, to June 30, l 88, were $927,'234; net, $211 ,'i<S.:S; rentals, taxrs, &<>., $55,691; surplmi $156 -090, of which $150,716 spent for construction. For four months from ..:,u1y 1 to Oct. 31 gross earn~ngs w,ere :t4ll,447iu 1885, against $299,476 m 1884; net, $172,209, agamst $82,554. A proposition to bondholders Au,g. '-'-7, 18t!5, by M•·. W . .J. Palmer, t_he PresHent, was given in v. 41, ,p. ~73, and proposed the reduction of mterest on the bonds on a graded .scale till Sept., 1889, when the coupons wou~d be paid in full aO'ain The Denver & Rio. G. p arties_repre;:entiag a considerab'.e amount of ·D. & R. G. W. bo11ds, proposed m Oct-. that on reorganization the companies should be merg~d and the present bondhulders take new 4 per ceut consols, plus ;t:500 rn pref. stock with each $1,000 bond, and the present D . & R. G. W. stockholrle ~s should pay $t3 cash per share and take new common stock with -ii l2 in new pref. stock for the $6 cash assessment. -_(V. 40, p. 181; V. 41, p. 102, 278, 356, 4:15, 472,494, 505, 527, 578, ,6a3.) jaURd · D~~ver Sonth Park & Pacific (_3 Ct.)-(See Map of Union Pacijic).-Denver, Col., to Nathrop, 137 miles; Nathrop to Gunnison 65 JIJ.iles; Gunnison to Mount Carbon, 17 miles; Garos to London Junction .15.miles; Como to Keystone, 35 miles; Bear Creek.Junction to Morrison' 10 miles; Dickey to Lead ville, 34 miles; Como to Mines 4 miles'. :Sch wanders to Buena Vista, 4 miles; total, 321 miles. First' morto-aO'e bonds issued at the rate of $12,000 per mile of finished road. In Oct.. 1880, ~he consol. mortgage was made for $15,000,000, to be at $17,000 per nnle on whole road, old and new, less the amount of 1st mortgage on the old. Stock owned by Union Pacific is $6,042,500, and the Union Pacific operates the road_ but h as made no guaranty of t he stock or bonds. In _1884gro~searnmgs, $1,194,069,; deticit on operations, $296,.991; ~etlmt under mterest, &c.,_ $54.9,1~3. In 1883 gross earnings, ... - o,no; n et, $48,749; deficit under mterest, &c., $166,657. g. ...... paid March, 1884. Sept. 1, 1911 . ......... New York. 4 M .. &..N. N.Y., London& Frankf't 7 6 ft. .J. & .J. N. Y., Co.'s Agency. 6 .J. & .J. N. Y., Morton, B. &O<,. do do 6 .J. & .J. do do 6 .J. & .J. 7 .& . 7 J. .J. Last paid .Jan. 1885. ·--------- ---· INCOME ACCOUNT. 1881. m 6,142,800 1,800,000 2,812,000 1,200,000 1,200,000 672,000 99,000 879,000 ··50 1,500,000 1,000 2,000,000 200 &c. 3,200,000 1,000 250,000 1,350,000 ·ioo 1,825,600 100 2,510,000 500 &c. 2,487,000 1.000 770.000 1,000 476,000 1,000 2,280,000 1,000 4,560,000 1,-000 1,500,000 1,000 630,000 100 5,000,000 500 &c. 586,000 295,000 1:000 18,000p.m, 7,000 p.m. i',ooo 2,000,000 1,000 1,000,000 1,000 200,000 For ten months from .Jan. 1 to Oct. 31, 1 !:185, gross earnings were $5,041,891, against $4,668,286; net, $1,771,661, against $1,5;:<l,453; surplus in 1885 ornr current charges, $1,545,402. Earnings, expenses and net income for four years were as follows: 1881 18,.2 1883 1884 Miles oper. Dec. 31... 1,067 1,2-82 1,679 1,317 Ea1•nings$ $ $ $ Passenger............. 1,563,632 1,589,558 1,472,503 Freight................ 4,332,150 4,-HZ,185 5,351,912 Mail, express, &c..... 348,998 403,237 537,131 _____ ---Total gross earnings 6,244,780 6,404,9~0 7,361,546 5,55'..:l,103 Operating expenses.. 3,620,030 3,821,123 4,743,111 3,758,530 ---Net earnings.......... 2,624,750 2,583,857 2,618,435 1,793,573 P. c. of exp. to earn•s. 57·97 59·66 64·43 67·70 Receipts- $6,900,000 300 100 1,000 1,000 1,000 1,000 1,000 A_-&·o. New York&.London . do do N.Y.,Canad'nB. of Com. N. Y., Farm. L. & Tr. Co Boston. do Boston, 2d Nat. Bank. do do do do N. Y., Metrop. Nat. Bk. do do 6 A. & O. 6 F. &A. 8 2 .r. & .J. F . &.A.. 3 2 F. & A. J. & .J. 7 .J. & J . 8 6 .J. & .J . A. & 0. 6 A. & 0. 7 7 .&. .J. N.Y.,M.K ..Jesup,P.&Co . 6 g. J. 2 A. & 0. N.Y.,M.K ..Jesup,P.& Co. .J. & .J. N. Y., .John Paton & Co. 7 .A.ug:ii;: ·isso May 1, 1905 Jan. 1, 1921 June 1, 1905 June 1, 1905 .June 1, 1900 ··isoii Nov·:ii,.i918 Nov. 15, 1913 Feb. 15, 1886 .July 5, 1885 Aug.15,1884 Aug.15,188/> .Jan. 1, 1907 .July 1, 1889 .July 1, 1913 Oct. 1, 1921 Oct. 1, 1911 Oct.-- 1, 1921 .July 1. 1919 Oct. 15, 1885 .July, 1894 1888 5 6 g. M.'&..N. N . Y ., Centrai"Trust Uo. May 1, 1911 ··,;-g. J. .&..D. N.Y., N:Y:c~rii: &Hud . .Ju.ii.e: 'is9o A. & O. do do Oct. 1, 1890 7 do A. & O. do Oct. 1. 1890 7 IJan. gross earnings were $354,029, net, $101,660. For ten months from 1 to Oct. 31, 1885, gross earnin~~ w ere $30P, 165, against $290,- 863; ne::t, $87,618, against $85,791. ( v. 39, p. 732.) D ll'.. i •- S th p . t d f D M • es .a.o nes O sceo 1a .-. ou ern.- roJec e rom eR omes Ca.! to ~ansas C\ty, ~o., 300 mi_les, of whi~h ~13 miles, D e~ :\foines to ~ams ville, Mo., 1s bmlt. In Apnl, 1885, a receiver was appon~ted. Stock 1S~ued, _$500,000, $7.000 12· m .; bo~ds,_ $6,000 p. m. Iu Au~ .• 84 consol. with Wis. Ia. & Neb. RR. (\ · 40, P• 4 .. 4.J Detroit Grand Haven & .lJ.lilwaukee.-Owns from Detroit, Mich., to Grand Haven, Mich .. 189 miles. This is a reorganization of the Detroit & Milwaukee which w:ts sold in foreclosure Sept., 1878. .A. sufficient amount of first equipment mortgage bonds is reserved to retire Detroit & P. bonds on maturity. The bonds were guaranteed by the Gt. Western of Canada. Gross- earnings in 1882, $1,348,565; net, $339,-!53; in 1!:!83, grosF, $1,376,461; net, $379,767; in 1884, gross, $1,254,391; net, $333,626. For nine months from .Jan. 1 to Sept. 30, 1885, gross earning-a were £167,893, against £187,010 i.o1 1884; net, £42,432; against £50,977. Detroit Hillsdale & Southwestern.-Owns from Ypsilanti, Mich., to Bankers, Mich., 65 miles. The Det. H. & Ind. road was sold in foreclosure Dec. 28, 1874, and this company organized by the bondholders. In Aug., 1881, leased in perpetuity to the Lake Shore & Mich, Southern Co. for $40,500 per year (3 per cent) on stock for two years. and $54,000 per year (4 p. ct.) afterward. Detroit Lansing & Northern.-Owns from Grand Trunk June., M1ch., to Howard City, Mich., 157 miles; branches-Stanton Juno. to Big Rapids, Mich., 63 miles; Belding Branch, 112 miles; leased, Grand Trunk June. to Detroit, 3 miles; Lansing to No. Lansing, 1 mile; St. Louis to Alma and Lake View, 36 miles; total operated, 261 miles. .A. consolid11tion, Apl.11, 1871, of the D etroit Howell & Lansing, the Ionia & Lansin~ and the Ionia Stanton & Northern railroads, under the name of Detroit Lansin~ & Lake Michigan RR., which was sold in foreclosure Dec. 14, 1876, an<i new stock issued as above. In .July, 1883, leased the Saginaw & Western and -endorsed the bonds. (See V. 36, p. 674.) The annual report for 1884, in V. 40, p. 452, had the following: 1881. 1882. 1883. 18~4. Miles of road oper'd. 225 225 260 261 Total gross earnings. $1,377,698 $1,597,142 $1,596,444 $1,328,592 Net earnings.......... $443,269 $461,082 $537,874 $463,322 Interest . .............. 3,643 10,425 4,965 Total income . . ... Disbursements- Interest on debt .•.... Dividends* ......•. ... $446,912 $471,507 $542,839 $'163,322 $235,527 175,230 $233,975 175,230 $248,335 284,995 $265,894: 230,465 Total disbursem'ts. $410,757 $409,205 $533,330 $496,359 Balan<'e, surplus..... $36,155 $t:i2,::l02 $9,509 def. $33,037 * In 1881 and 1882 7 p. ct. on common; in 1883, 6 on com. and 7 on pref.; in 1884, 3 on com. and 7 on pref. -v. -10, p. 4o2.) Detroit Mackinac & .lJ.larquette.-Owns from Straits of Mackinac to 1\iarqnette, 1 5~ miles, aud extension west to Ishpening, 17 miles, known as M.arq. & West. RR; branch projectee1 to Salllt ist. Marie, 48 miles. T11is roaa is intended to form, in connection with others already built, a line along tne_south shore of Lake Superior. The stock was increased in 181:jo to :j;l0,000,000, in $100 shares, of which $4,750,000 was outstanding Dec. 3 l, lo~8. The land bonds receive 25 per cent of net proceeds of land sales as their yearly income. In October, 1884, d efalllt was made in payment of interest, but bonds were mostly held by the contrar.tora, a n Lt some agrnement was made with them. Gross earnings in 181:iJ, $:.:139,789; n et, $:..:5,J~S. Gross in 1884, $213,518; n et, $1.:.:l,8V4. .Ja rnos 1'1:cMillan, .President. (V. a9, p. 381, 409.) Du.buque & Dakota.-Owns from Waverly to Hampton, 41 miles, and from dumner, Ia., to Waverly, Ia, 23 miles. Built on the old grading of the Iowa Pacitio. '! 'he Dubuque & Sioux City Co. guarantees tue bonus iss ued for construction to the extent of $10,0VO per mile. Honda may be paid oft at any time at 105. Pref. stoc.lr :j;:120,000 and ordinary stock ;-i:;159,500. uross earuings in 188-!, $71, /:.:lO_; net, $28,078. Gr·oss in 1e,..i 3. $7 6 ,115; net, ;:ji~2,30d . .uu.bu.que & Sioux City-(See .Map of Illinois Oentral).-Owns .l'ruill 1Juo1.1.que, Iowa, to Lowa .t<'alls, 143 miles. The form.er Duouque & .Pacilio was torecloseu. in 1800, and present company organized. Leased to Illinois Central from Oct. 1, 18ti7, for 20 years, the lessees agreeing to pay 35 .per cent of gross earmngs for ten years and 80 per cent for next ten years, with privilege to ruake the lease perpetual at the latter rate. G1·oss earningd tu 18::H, :fiJ~~. JOd, agamst ;t;1,0Jt,0~4a in 1883. In 18 84 rentaltrom les.,,ee $:.:ltl~,J 7 J; other income, $3 l,6J8; total net, $324,011; interest, &c., $oi,oo6; dividend of 4 per cent, $l99,\J76 ; Oalance surplu;i, $6l.,3ti!:J; total SUI'.i,>lUS D dC. 31, 181:34, $J..5o,o8J. M. K, .Jes11: i;, r.,;::;1dent, N . Y. Citv. (V. 40, p. 2'10 337: V. 4.1, p. 356.) ~ ~~.~~~ Des Hoines & Fort ...iodge.-Owns from Des Moines to Fort J>od~e. Iowa, 87 miles,. with an exten~ion 56 ~es to . ~utliven, C(?nnectmg with Chicago _Mil. & St. Paul. F1r~t 8_7 miles ori~mally a diyision of the Des Momes Valley RR., built m 1870 anu sold out m 1873. Common stock, $'1,283,000; preferred, $758,280. The report for 1883 had the following remarks: "In all the litigation with which this road was surrounded when it was foreclosed eleven years ago, and in all the cases that necessarily arise in the management and buildinfi of a railroad since that time, this company has never lost a oa.11e.' Four coupons, .Jan. 1885 to .July 1886 inclusive, will be paid one-half Du.luth & Winnlpea-.-Projected from Duluth to Manitoba' in cash and one·half in the company•s~notes due Jan. 1, 1888, and bear boundary line, 280 miles. ~eland grant amounts to 1,800,000 a.ores, ,mg 6 per cent interest. • i,·i" , Lands owned, '\bout 11,500 acres, and balance due on land omatracts, which is subject to the tlrst mortgage. The stook ia $5,000,000. WmJ Spalding, President, Duluth. .$99,849. Gross. earD.ings in 1883 $341,935; net $102,652. In 1884, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis w. RAILROAD 40 STOCKS AND BONDS. [VOL. XLI. Subscribers -wlll couCer a great Cavor by giving im.m.ediate notice oc any error discovered in these Tables. DESCRIPTION. For explanation of column headings, &o.,see notes on flra-t page of tables. East B1·oad Top.-lst mortgage, regi~tered ......... East Pennsylvania-Stock .. ••.• •...•..........• ... .. 1st mortgage ............... .... ..................•. East Tennessee Virginia " Georgia-Common stock. Preferred stock (6 per cent) ....................... Consol. mort., gold (for $22,000,000) .............. Funded coup. bonds (secured by the coups.) ....•. Consol. mort .• " Divisional" bonds ................ Income bonds, gold ............ .. ......•.........• Old 1st mortgage sinking fund bonds ............. East Tenn. & lleorgia, endorses ......•............ East Tennessee & Vir6-inia (endorsed) ...... ....... 2d mortgage to U. s. overnment ... . ..... ... .. ... Alabama Central, 1st mortgage, gold, coupon .... Cinn. & Georgia RR., 1st mortgage .. .. .. ..•...... Car trust bonds, (including interest) ... ........... T en-year debentures . . . . . . . . . . . . . . . . . •......... u • Knoxville & Ohio, 1st mort., gold .............. ... . Eastern (Mass.J-Stook .............................•. Essex RR.1st mort. (extended for 10 years) ... ... Mortgage fund.infooertifloates ..•.................•. Eastern (N. H.J-S ok ............................... Eel .Rive1·-Stock ......................•.............. Elizabeth. Lex.&Big Sandy-1st mortg., op. or reg .. C. & O. Equipment Trust . ........... ..•. ......... Elmira Oorttand ct Northern-1st pref. mort . .. .... 1st mort ..... . .........••.............•............. Elmira, Je,.&: Oananctaigua-Stook ...•.... .....•.. Elmira ~ Viltiamsport--Stook, common ............ Preferred stock ...........................•...•..... 1st mortgage bonds ..................•. ... ......... Income bonds, 999 years to run ................... Erie ct Pitt.sburq-Stook .. ........•............. ...... I Boncls-Prinoi INTEREST OR DIVIDENDS. MHes Date .Size or When Due Amount Rate per When Where P ayable, and by pal, of of Stoclcs-Last Payable Road. Bonds v!~e. Outstanding Cent Whom. Dividend. --- - - - 30 36 36 1,123 1,123 l,123 ------- . ... 242 112 130 . 95 ---· .... . ... 1873 i858 .... isso 1885 :i880 1881 1870 1856 1856 1872 1879 1 883 i884 1885 285 .... is5i 0 16 94 110 1876 ·--- i872 .... .... iss4 47 77 77 77 1884 . ... ---- i860 ioo 1863 ·--- $1,000 $500,000 50 1,709,550 100 &c. 495,900 100 27,500,000 100 16,500,000 1,000 14,674,000 .1,467,400 2,867,000 1:000 1,000 16,500,000 1 ,000 3,123,000 1,00() 92,000 1,000 147,000 95,000 1,000,000 1:000 1,000 2,000,000 2,100,000 600,000 1:000 1,000 2,000,000 100 4,997,600 100 &c. 194,400 500 &o. 13,462,920 100 492,500 100 2,792,800 1,000 3,500,000 .... 43.000 750;000 . ... 1,250,000 "ioo 500,000 50 500,000 500,000 50 1,000 1,000,000 500 570,000 50 1,998,400 Dunkirk Allegheny Valle¥. & Pittsburg. -Owns froin Dunkirk, N. Y. to Titusville, Pa., 91 miles. A consolidation of the Dunkirk Warren & Pittsburg and Warren & Venango in 1872. Is leased to N. Y. Central & Hudson River Co., but accounts are kept separate. Capital, $l,300,00o. There is usually an annual deficit below the interest charge, but the N. Y Central & Hudson River Co. hold $2,920,000 of the securities. Gross earnings in 1883-84, $279,719; deficit, $21,200. Gross in 1884-85, $216,796; deficit, $6,769. East Broad Top (Pa.)-Owns from Mount Union Pa., to Robertsdale, Pa., 30 miles. Aooal road, opened in 1874. The stookis $815,602, In 1882-83 gross earnings were $90,842; net, $2,385. In i883-84, gross, $85,539; net, $19,405. East Pennsylvania.-Owns from Reading, Pa., to Allentown, P a ., 36 miles. It is lea ed for 999 years from May 1, 1869, to the Philadelphia & Reading RR., at a rental of 6 per cent per annum on the stock and interest on the bonds. G. A. Nicolls, President, Reading. East Tennessee Virginia & Georgia.-( See Map.J-The East T ennessee Virginia & Georgia Railroad is composed of the following lines, which were consolidated July 20, 1881, under the above title: The E ast Tennessee Virginia & Georgia Railroad, the Macon & Brunswick RR., the Cin. & Ga. RR., the Knox. & Ohio RR., and the Alabama Cent. RR., making a total of 1,098 miles June 30, 1885, made up as folows: Bristol to Chattanooga, Tenn., 242 m .; Morri town to Unaka, 44 m.; Knoxville, Tenn., to Jellico, 66m,; Cleveland to Selma, 264 m.; Selma to Meridian. 113 m.: Ooltewah to Cohutta, 11 m .; Rome, Ga., to Macon, 159 m.; Macon to Brunswick. 190 m.; Cochran to Hawkinsville, 10 m. The company owns 1,080 miles of railroad and uses 18 miles more._ It ah,o operates under a lease for twenty years from July 1, 1879, the lines of the Memphis & Charles RR. Co., from Chattanooga to Memphis, Tenn., 310 m., ancl the Florence and Somerville br'ohes, 20 miles, in all 330 m., m aking a total of 1,453 m . of owned and leased lines. The lease of the Mem. & Char. RR. was an operating lease simply, and various differences were settled by the acquisition of a majority of the capital stock of thti Mem. & C. Co. uy parties controlling the E. T.Va.&Ga. See i u V. 41, p. 102, the armng-emeut by which the $2,000,000 of Knoxville&, Ohio honds (road Knoxville to Jellico) WH'd disposed of, and other eeourities t akt·n. The E.T. Va.& Ga. holds a m ·1jori ty of the K.& O. stock. Of the fil'st mortg. consol. bonds, tllere are .lJ.eld in trust by the Cent. T.rust Co. $7,408,000, to retire the same amount of the outstanding divisional and sectional bonds. In Janua1·y, 11-85, default was mace on the consol. mortga~e interest, receivers were appointed, and a plan for funding certain coupons was proposed. viz.: Th·tt all interest falling due in 1885 anrl 18tW be funded by tbe holder" of oonsol. mortgage bonds, Cinn. & Ga. RR. ht mort. bonds and debenture bonrls; to the two fir t-namecl, funded coupon bonds at 6 per cent are to be issued for the coupons so funded, anu to the debenture hold.er~ similar debenture bonds. See V. 40, p. 29. Fol' four months from July 1 to October 31 gross eal'nings were $1,418 .124 in 1885, against :!{l,372,360 in 188!; net $61!;,9 15, against $574,\:1 6 4. . The fl.seal year ends June 30. The annual report for 1884-85 was published in the CHRONICLE, v. 41, p. 611: IN€0 IE ACCOUNT. 18q3-84. Receipts1882-83. 1884-85. Total gross earnings. ......... $3,776,784 $4,173,263 $4,021,567 N et earnings.... .............. $1,393,082 $1,699,925 $1,288,343 Disbursements- Interest on debt...... ..... .. .. $1,303,539 Otll.er intere ·t................. 192,775 Taxes . .. . .....•..••........... 74,768 Miscellaneous..... . ...... . . • . . 517 $1,402,995 49;i>i7 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis .... ··1r~. - - -· J. & J. Philadelp'a, Co.'s Office. July 1, 190 3 J. & J. Phila., by P. & R. RR. July 21, 1885 M.& S. Phila., P. & R. office. Mar. 1, 1888 . ... .&.. ·----·---- iui:v: J. J. __Last paid 18:34. J. & J. J..'f. Y., Central Trust Co. 6 J. & J. 5 do do Oct,. 6 do do J. & J. 7 do do J. & J. 6 do do M:.&N. do 6 do J. & J. 4 do do J. & J. 6 do do J. & J. Last paid July, 1881 6 do ..6. J. -&,-·D . Last paid Dec.,do1884. 6 g. J. & J. N ew York. J. & J . 3 Boston. M.& 6 s. Boston, Office. 6 g. M.& s. Boston and London. 214 J. & D. Boston, by Treasurer. 1 Q.-M. Boston, by Treasurer. 6 M.& S. N. Y., Mills Building. 6 6 A."& 0 . 1 t5 B'way;·New York. J. & J. 3 do do 3 M.& S. Baltimore, N. Cent. RR. 2¼ t\I.&N. Phila., Penn. R. R. Co. do do 312 .r. & J. ,r. & J. 6 do do 5 A.. & o. do do 1 34 Q.-M. N. Y., Union Trust Co. . ....... July. i"," "i930 July 1, 1895 July 1, 1930 Aug 1, 1931 July 1, 1900 1886 May 1, 1886 Jan. 1, 1 887 1, 1918 J J ~Y, 1923 1885-94 1885-94 July 1, 1925 July 15, 1873 ,Sept. 15, 1886 Sept., 1906 Dec. 15, 1885 Moh. 5,1884Mar. l,190Z 00 Aprii"1,""i914, April I. 1914 bept., 188'> Nov. 1, 1885 July 1, 1885, Jan. 1, 1910 Oct. 1, 2862 Dec. 10, 1885 Eastern (1'.lass.)-Owns from Boston, Mass., to New Hampshire. State Line, 41 mile!:!; branches-Salem to Marblehead, 4.miles; Beverley to Gloucester, 17 miles; Salisbury to Amesbury, 4 miles ; Revere to East Boston, 312 miles; Peabody to Wakefield, 8 miles; Salem to Lawrence, 20 miles; others, 22 miles; leased-Eastern RR. of N. H., 16 miles; Newburyport City RR., 3 miles; Port land Saco & Portsmouth, 51 miles; Portsmo uth &Dover, 11 miles; Portsm. Gt. Falls & Conway, 73 miles; Wolfeboro Railroad, 12 miles; total operated, 285 miles, In March, 1883, a lease o.f this road to the Boston & Maine was voted fodifty-fiveyears, but in November, 1884, this lease was decided to be illegal in some r espects, ani a new one was negotiated for 54 years, from Oct. 1, 1883, on the basui of combining the total earnings, payin~ all charges, and dividing the surplus income as follows : 1. To B. & M.. $630,000 (l:J per ('ent on its stock) ; to Ea tern, $100,000 for sinkin~ fund; t o B. & M., $70,000; to Eastern, $336,000 ; balance to be spen1 by lessee on both properties pro-rata. Mortgage notes are $684,300, secured by real estate. The last annual r eport for the year ending Sept. 30, 1885, gave the following r esult ef operation with Boston & Maille. Surplus to be divided. $8~4,511; divided, in accordance with the terms of the lease, as follows: To Bos. &M. To Eastern. Boston & Maine Railroad (9 p. c.) ••.••••••..••.. $630,000 $ .....•• Eastern Railroad ...... .. __ ... ... ..... ... .... __ .. __ . _. .. .. . 100,000 Boston & Muine Railroad (1 p. c.) .. .. .. .. .. .. .. .. 70,000 Ea.stern Railroad, balance...................... .. . ..... _. 34,511 Total.. .. .............. . ................ ... .... $700,000 $134,511. -(V. 39,p. 264,522,580,653,680; V. 40, p. 2 7, 508; V. 41,p. 527,688, 72 t.l.) Eastern (N. H.)-Owns from Portsmouth, N. H., to Seabrook (Massaohusotts State Line), 16 miles. It was formerly l eased .for 99years to the Ea tern (Mass.) Railroad, and a new lease was made from Oct. 1, 1878, for 60 ye~rs and two months at $22,500 per year, equal to 412 per cent per annum. Moody Currier, President, Manchester, N. H. E el River.-Owns from Lozansport. , Ind. , to Butler, Ind., 94 miles. This was formerl.v the D etroit Eel River & Illinois Railroad. sold u nder foreclosure July 6, 1877, and reorganized under present name Dec. 10, 1877. In August, 1870, it was leased to the Wabash St. Louis & Paoiti.o Railroad for 99 years, at a rental of 3 per cent per amuun on the stock for two years, 4. per cent for three years, and 4~ per cont thereafter. Default by lessee on the rental was made in 1884. -(V. 41, p. 585.) • Elizabethtown Lexington & Big Sandy.-Road owned Jan. 18 5, Lexing-ton to Junction, with A.O. & I. Co., near Denton, 102 miles;. A. C. & L Junction to Big Sandy River, 7 miles; total owned 110 miles. Leased.Junction with A. C. & I. Co., near Denton to A. C & I. June. , 21 m ;. West Side Bi!; Sandy River to Huntin~on, 9 miles; total operated, 139' miles. Charter permits extension to .1:!.lizabethtown. It is the connecting line of the Chesapeake & Ohio and controlled by the same parties. Authorized capital of tbe oorupan.v is $5,000,000, with a pl'Ovision in the charter to increase it to $10,000,000 to build the line from Lexington to Elizabethtown. Amount issued, $3,509,886. The annual report for 18 4 was in V. 40, p . 568. Gross earuin(J's were $762,627, against $713, l03; n et, $258,052, against $217,041. In 1884, net earnings $258,052; all fixed charges, $224,717. For ten months from J an. 1. to October 31, l 85, gross earnings were $580,441, against $625,815 1,4613,651 in 1884; net, $~01,789, a~ainst $l09,l:U. (V. 39, p. 181, 264,522; 62,213 v. 40, p. 61, 427, 568,686; v. 41, p. 161, 527, 653.} 147,754 Elmira Cortland & Northern.-Elmira. N. Y., to f;anastota, N. Y., 120 miles, of which Elmira to Horseheads, 5 miles, and Cortland to $1,678,618 De Ruyter, 20 miles, leased. Organized Ma.v 11, 1878, a<i successor of def.$390,275 the Utica lthaca&ElmiraRR. Co., foreclosed April 30, 1878. Again sold foreclosure Feb,, 1884, and re-or~anized as at present. Stock is for the fl.seal in $2,000,000. Austin Corbin, President, New York City. Total disbursements...... $1,576,599 $1,452,612 B alance ..........•...••....... de.f.$183,517 sur.$247,313 Mr. Henry Fink, the receiver, in his reporL of operations year ending June 3 ,, t 885, said : •· The receiver'"' liabilities on the 30th day of June, 1885, exceeded his resources b.v $53,>Hl. Th61 liabilities do not include $213,740, the interest due July 1, 1815, on the company's divisional bonds. The oompfany's liabilities oth ,r than for matured intt1re ton its bonded debt, as ar as tlley have been ascertained and audited, amounted June 30, 1885, to $118,792. Tbese liabilities were incurred m ainly for labor, materials and supplies necessary for the maintenance and operation of the road. The cOUt't ha,; at yet i ssued no order authorizing the receiver to pay these olai ,us against the company." * * .,. * "On the 3d da y of March, 1885, the East Tennessee Virginia & Georgia Railroad Company entered into a contract with Post, Mart in & Co., for the o rn,olidation of the three oar trusts (A, B & C), and the extension of certain payments on account of oar trust A. This contract ha, ing been su bmitted to the court, the receiver was authorized and directed during the term of the receiver.,hip to make any and all payments ooruin~ due under the lease warrants under said contract, and to do each and everything in pursuan ce of said contr act whiuh the raill'Oad oom:pany agreed to do. A table in the repo, t gives all the dates at which payruents are to be m ade from April 1,'85, to Oct. 1, '94," * * * (V. 39, p, 47, 168, 381, 409, 461, 493, 520 606,732; V. 40, p. 4, 29, 60, 151, 181,363,394,508,569, 652,763; 41, p. 102, 174, 189, 241,306 356,472,556, f,78, 610, 611.) v. 4 3 7 Elm.Ira .Teff'erson &: Canandaigua.- Owns from Canandaigua. N. Y., to Watkins, N. Y., 47 miles. The road was foreol.:ised and r eorganized under present name Feb. 18, 1859. It was leased to New York & Erie for 20 years from Jan. 1, 1859, and the lease transferred to N. Oen. RR. in 1866 at a rental of $25,000 per year. Lease terminated Jan., 1B79, and road now operated at cost by North. Cent., which company owns the whole stock. Gross earnings in year ending Se~t. 30. 1883, $368,842; net, $92,729. In 1833-84, gross $312,317; ne:;, $50,154. Elm.Ira & Wullamslon.-v wns irom Williamsport, Pa., ro Elmira, N. Y., 76 miles. 'Ihis company was reorganized under the present name Feb. 29, 1860, and leased to the Northern Central Railway for 999 years from May 1, 1863, at a rental of $15'1 ,500 per annum after Jan. 1, 1880. The dividends on the common stock are 5 per cent and on the preferred 7 per cent. Gross earnings in 1882-3, $903,269 ; n et, $309,010; surplus to lessee, $136,918. Gross earnings in 1883-4, $777,166; net $226,383; sur_plus to lessee. ffi5?.l78. Erie & Plttsbnrg.-Owns irom .New Castle, Pa., to Girard, Pa., 82 miles ; branch, Dock Junction to Erie Docks, 3 miles; leasedGirard t o Erie, 15 miles; total operated, 100 miles. Road opened in 1865It was leased to the Pennsylvania RR. for 999 years from March l, 'r.J..J. A z0 o::i ~ ~ r:n. ~ 0 0 ...... E-4 ' t . ·;r.,, · :'- r:n. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ' (~ ' MAP OF THE EAST TENNESSEE, VIRGINIA & GEORGIA RAILROAD & CONNECTIONS. llliflroaaa P.rQJectea or ,n progress - RAILROAD STOCKS AND BONDS. [VOL. XLI, Subscriber s will c onCer a g reat Cavor by g iving Im.mediate notic e oC any error dis covered In th e se Tables. DESCRIPTION. For explanation of column headings, &c., see notes on first page of tables. Bonds-Prin ci INTEREST OR DIVIDENDS. Miles Date Size, or Amount Rate per When Where Payable, and by pal, When Due. of Par Outstanding of Stocks-Las'& Cent. Payable Road. Bonds Value. Whom. Dividend. --- Erie d: P-ittsbm·g-( Contimted)- --- - - - FfihfuO:;!ft~;J~:~.-.·:.· .· .·.· .·: _· _-.· .· ::::::::::::..·:: .·:::: 81¼ 100 100 114 54 146 . 51 109 H4 25 55 55 190 0 g ---- 1 870, at a rental of 7 per cent on stock and interest on the bonds, and the lease was transferred to the Pennsylvania Co. The lease has been. quite unprofitable to tlle lessees; the <'leficieucy paid b.v them in 1 881 was $233,522; in 1882, $207,651; in 1 E<8a, $260,071, and in 1834, $30 7,841. Eur o pean & N o rtb A.IDerican. - Owns from Bangor, Me., to Vanceboro (State Line), Me.. 114 miles. Road was worked in connection with the St. Joh•1 & Maine, making an unbroken line from B angor, Me., to St. John, N. B., 205 miles. On Aug. 31, 18 2, a lease was made to the Maine Central for 9:) years, for $125,000 per annum, equal to 5 per cent per annum on the stock, an r1 assuming the bonded debt of $1,000,00~', which is giyen under l\Iaine Central. E v ansville & Indlanapolis.-Operates from Evansville to Wa'3111ngton, Ind .. 57¼ miles, ot' which 3¼ is owned by the E. & T. H. Tllis was formerly the Iodianapo lis & Evansville road, and was foreclosed J une, 1884, and r eorganized under this name. The stock is $500,001); the bonds are guaranteed by the Evansville & T er re Haute Co. Evansville & Terre Haute.-Owns from Evansville, Ind., to Terre Haute, Ind., 109 miles; Owensville branch and extension, 37 miles; total operated, 1 46 miles. The Rockville Extension, 23 m iles additional, is leased to the T err e Haute & Logansport for 99 y ears from Nov. 1, 187 9 . Fortne1 ly the Evansville & Crawfordsville RR. Co. The 20 per cent s t ock dividencl of 1 8:34 was the distribution of $50 0,0tlO which had been held for some time in the treasury. Annual report .for 1884-5 in V. 41, p . 526. Gross arniugs year endtng AU "'. 31, 1384. $753,107; net, $387,297; in 1 884-85, gros3, $718,82.j; n <'t, !!>357,GJ0. -(V.39, p. 203,492; V. 41, p . 47:l, 526.) ~ Evansville Terre Haute & Chicago.-Owns from Terre Haute Junction, Ind., to Danville, Ill., 49 miles; leased, 6 miles; total operated, 55 miles, It uses G miles of the track of tlie Rockville Ext,enaion into Terre Haute; also lea es t,he Indiana Block Coal road, 15 miles. On April, 30, 1880, a lease to the Cllicago & Eastern Illinois was made for 999 years; terms, $75,000 per annntn and the assumption by the C. & E. I. of all rentalt:1 and taxe · paiu by E. T. H. & C. The bonded interest was redtwed to 6 p er cent au,l preferretl .;tock for $100,000 issued for overdue coupons; common stock, $600,000. J osepllus Collett, President, Terre Haute . Ind. Fitchburg.-Owns from Boston, Mass., to Fitchbtu·g, Mass. (double track), 50 miles, and H. Barre & Gard. RR., Worcester to Win chendon, 37 miles; branches-Charl estown, 1 mile; Nortll Cambridge to Waltham, 7 miles; South A cton to Marlborough, 12 miles; ,.Peterborough & Shirley, Ayer, Mass., to Greenville, 24 miles; leased and operated-Vermont & l\Iass. RR., Fitchburg to Greenfield, ~6 miles; Turners Falls Branch, 3 miles; Troy & Greenfield RR., Grem1fl.eld to North Adams, 37 miles; total, 190 miles. The Tro~~ & Greenfield RR. and the Hoosac Tllililel, owned by tlle State of Ma sa,::h11setts, have been operated by this company, and are now contracted to it for seven years trom Sept. 30, 1880. Tlll' l'<' are notes out for $530,000. In May, 1885 , 5 per cent new sto ,·,, wa~ "old at par to stockholder s, and also stock for aosorpti0n of Bos Lou Batre & Gardner RR. stock on basis of one share Fitchburg for 1en of B. B. & G. The annual report for 1883-84 in CHRONICLE, V. 39, p. 706, referrecl to tlle n ew alliances made in 1884 for through business. The income account for four years past (ending Sept. 30) was: 1881-82. 1882-83. 1883-84. 1884-85 $ $ $ $ Receipts444,843 670,73 7 666,752 . . •..... Net earnin~s ....... . Premiums and rents 161,000 107,000 58,500 .•••.... Total income ..•... Di:-;bursements- ----- ----- ---- 1865 l 00&c . 91,800 7 1868 ,$1,000 $2,485,000 7 1870 1,000 685,000 7 2,500,000 100 2¼ i884 1,000 1,000,0JO 6 ...... 3,000,000 l 50 1852 1,000 246,000 7 1,000 606,000 1854 7 6 g. 1,000 2,148, 000 1881 1,000 6 g. 1883 200,000 1870 1 ,00-0 775,000 6 g. 1,000 325,000 6 g. 1872 ..... 5,287,500 100 2¼ 4,000,000 5. 6 & 7 Bonds, coupons, ($4,950,000 authorized) .... ..... ....... '74-'81 1.000 390,000 5&7 100 &c. Boston Barre & Gardner , 1st mol'tgage .. ·- ....... 38¼ ..... do 2d mortgage .. ... ................. . ..... . .... 186,300 3 ·--do 3d mortg. (convertible into stock) ....... 1881 . .... 57,300 6 ..... 6,500,000 2 Flint d: Pe1·e Marqtiette-Preferred stock . ........... 361 . ..... 1,000 3,924,000 6 g. Reorganization mortgage, gold ($5,000,000) . ..... 302 1880 10 Flint & Holly RR. ............... . . ... . .... .. ....... 17 1868 500 &c. 300,000 75,000 Bay \Jounty, 1ssuedin a id, guar. by 1essees ...... . .. ....... 500 10 Holly Wayne & Mon., 1st mort., sink. fund, ,irnar. 65 1871 1,000 1,000,000 8 1,000 Florida Railway cl: Nav.-F. C. & W., 1st mort .. gold 234 1832 2,808,000 ~ g. Florida Tram,it-1 t mortgage ..................... 155 1881 1,000 1 ,000,00·1 l,'100 250,000 Peninsular of Florida-1st mortgage ....... .. ...... 50 1876 7 1,000 4,04'?,000 Fla.Ry.& Nav., consol. mort. gold . ................ 530 1881 g. 2,1 1883 1,000 Fernandina & J acksonville . . .... . ..... ....... ..... 380,000 Fonda Johnstown&: Gloversville-1st mortgage ..... 10 1 870 100 &c. 300,000 7 Consol. mortga!!e ............... .. .......... .... .. .. 26 1880 100 &c. 200,~0 6 320,000 Fort Madison d'; Northwestern-1st mort., gold .. .... 45 1880 500 &c. 7 fr. 97 2,287,832 Fort Wayne & Jackson-Pref. stock, (8 per cent) .... 234 ---· 431,747 ..... ..... Common stock ....... ... . ................... .. .. . ... 97 ---2d mortgage, convertible .......................... Consol. mort. free of State tax (for $4,500,000) ... Equip~ ent bonds .................................. EuropeanctNo ..Amcrican-Stoclr, guar. 5 p er ct . ... Evansville d: lnclianapolis-l t mort. (guar.), gold .. Evansi'iile d: T. Hattte-Stock ............ . .... .... -'~1st mortgrige, Evansv. & Ill., sink. fund .......... 1st mort.Evans.& Cr .. sink.fuud,(Evan v. to T.H.) 1st consol. mort., gold (for $3,000,000) .. ... . ..... 1st mort., Mt Vernon Branch, gold (for$ 375,000) Evansville Terre H. d: Ohic.-lst M., gold, int. guar . . A. J. A. A. J. & 0 . N. Y., Union Trust Co. & .J. do do & 0, do do & O. Bano-or. & J . N.Y .. Farm. L. & Tr. Co. Company's Office. J. ),1,-·J . N.Y.,Farm. L'an& T.Co. M.&N. do do J. & J. do do A. & 0. do do M.&N. N.Y.,Farm.L'an & T.Co. J. & J. do do J. & D. Boston, Office. A. & 0. do A.. & o. Worcester, City Nat.Bk. do do J. & J. do do J . & J. ~- Y., Mer. Ex. Nat. Bk. A . & 0. do Ito M.&N. N. Y .. Meehan. Nat. B 'k. M.& 8. N'.Y., Merch.Exch. N.Bk J. & J. N.Y .. Merch. Nat. Bank. J. & J. N. York or Amsterdam. M.& S do do J . & J. New York. Q.-J. do J. & J . do J. & J. N. Y., St. Nich. Nat. B 'k . A.. & 0. do do A. & 0. Last paid April, 18 33. M.& S. N Y.,Farmers' L .&T1·.Co . . .... -- -- -· ---- Mar. 1, 1800 July 1, 1898 Oct. 1, 1900 Oct. 15, 1~85 July 1, 1924 J an . 2, 1886 July 1, 1887 Nov. 1, 1887 July 1, 1921 April 1, 1923 May 1, 1900 Jan. 1, 1902 J an. ] ' :gs6 18\M to 1903 Aprill', 1893 July 1, 1895 July 1, 1895 July 15, 1885 Oct. 1 , 1920 May 1, 1888 Sept. 1, 1887 Jan. 1, 1901 April 1, 1922 Mar. 1, 1911 May 24, 1906 ,Tuly 1, 1924 July ], 1923 July 1, 1900 May 1, 1920 A1;>ril 1, 1905 March 2, 1885 ........... On Jan. 1, 1885, the land notes (principal and interest) on hand for lands sold were $492,33 L and lauds yet unsoirl 101,009 acres. The total amount of cash collected in 188-t was $182,39). Annual report for 1884. in v. 40, p 539 . Earnings and opemtions for four years past were: 1881. 1832. 1883. 188.l. Miles op erated ...... .. 345 346 361 351 OperatifJns- Passengers carried . .. 813,131 994.225 1,048,496 882,659 Pctssengel' mileage ... 24,4~9.195 2 9,5 l6 .975 32,213,590 27,231.2% Freigbtrtons) m oved .. l,Ot3,96"i 1,137.">8'-I 1,442,834 1,2:n,679 Freight(tons) milea.ge . . 80,89-!,052 9:?,953 733123,112,615101.9 , 9,077 Earnings$ $ $ •$ Passen g er .... : ......... 655,478 795 ,839 874,641 73:S,087 Freight ....... . ....... 1,157,3 57 1,317,042 1,610,510 1,457.169 Mail, exprnss, &c. .... .. 72,569 67,342 57,792 60,752 Totalgross earn's .. 1 ,835,413 2,180,223 Operat 'g exp's & taxes 1,315,322 1,432,209 Net earnings ........... R eceipts- Net earnings . ... . ..... . D isbttrsements- Inter est on debt .... . ... Dividends Miscellaneoi.is·. :::.·:::.: 2,542,9-!1 1,735,517 2,25i,988 1,515,46 1 748,014 807,426 737,527 INCOME ACCOUNT. 1 882. 1 881. $ $ 570,031 7!8,014 1883. $ 807,426 1884. $ 737,527 318,627 45 >,000 337,223' 455,000 570,091 322,118 337,500 3,935 309,024 422,500 .. .. . ... T otal disburs m'ts . . 633,5 '>3 731 ,524 Balance for the year .. def. 113,46:? sur.16,490 -(V. 39, p. 203; V. 40, p. 539, 763.) ·--··-·· .... .... 773,623 sur.33,803 792,22g def.51,696 Florida Railway & Navigation.-Miles owned as follows· J acksonviUe to Chattahoochee, :.!u9 miles, and branches from Talla; hassee to St. 1'1arks, 21 miles; a,nd from Drifton to Monticello, 4 m. : Fernandina so nth, 179 miles; Waldo to Cedar Keys, 71 miles; Wild wood to Lee burg, 22 ½! miles; Hart's road to Jaclrsonville, 22¼ m.; total, 529 miles. Infl\farch, 18 34. the Florida Central & Western, Florida, Transit & Peninsular, Fernandina & J acksonville and the Leesburg & Indian River rdilroads were consolidated under this name. There haveb aen issued $16,000 6 per cent consolidated bonds, with $13,000 of preferred and $1:'J,000 of common stock on e :1ch mile constructed and equivped. or th e new C"lnsol. bond;,, $1.433, <l OO ara reserved to. retire all prior bonds. Of the above F. C. & W. bonds $1,000,000 are a preferred lien • series A." the balance of the issue bein)l; known as. "series B." InOct .,1886, arereiver (Mr. H. R. Duval) was appoint e d forthe whole property. It is stated that this step is taken as preliminary step to reorganizing- the company, which will be done a'3 earl v as _practicable B. s. Henning. President, N. Y . City. (V. 39, p. 233,290 ; V. 41,.. p. 4 'J 4. Fonda .Johnsto wn & Gloversv i lle . -Owns fro:.il Fonda to Gloversville, 26 miles . The stock is $300,000. Gross earnings in 1883-8 1, $158,680; net, $65,29 5; surplus ovAr all char~es and 9¼ per cent dividend, $3,719. Gross earnings in 1884-g5, $160,324; net,. ------ - - - - - ------ ------ $68,563; surplus over charges and 9¼ per cent dividend, $8,364. W. 605,843 777,737 725,252 741,290 J. H eacock, President, Gloversville, N. Y. Fo1·t lUadlson & N o rth ff'est ern.-Narrow gau"'e road from Fort 252,581 2:::0,638 Madison. l a. , to BiTmingham, Ia., about45 miles. Stoc'ir. $!25,600. Default on bonds was made O ctob 3r, 18~4. and in March, 1885, a receiver 247:500 was appointed, and it was _proposed to issu e new bonds at $14,000 per mile, ch•1IJge the gau ge and complet e the full line of 100 miles and (5) (6) retire old bonds by some settlement with the holder a, either giving them the new bonds or otherwise. J. C. Atlee, President, Fort M adison, Ia. 720,769 -(V. 40, p. 337, 541) 735,301 755,889 731,391 Total disbursem'ts def.6,139 sur.23,521 Balance .............. def.129,458 surp,21,848 Fo1·t Wayne & .Jackson.-(SeeMap L . Shore &-M. s..l-Owns from -(V. 39, 706; V. 40, p. 337,481,569,625; V. 41, p. 585,J Jackson, Micll., to Fort Wayne, Ind, 97 miles. The former Fort Wayne Flint & Pere ll.Iarquette.-Owns from Monroe, Mich., to Luding- Jackson & Saginaw made default on its bonds and was sold in ton, Mich., 253 miles; branches-Bay City to East Saginaw, 12 foreclosure D ec. 3, 1879. On Sept. 1, 1882 l eased perpetually to L. Shor& miles; Flint Junction to Otter Lake, 20 miles; South Saginaw branch, & Mich. South. at a rental of $1~6,027, equal to 5¼ per cent on the pref. 5 miles; Harrison branch, 30 miles; Manistee branch, 26 miles ; stock, and after 1887 any net earnings over 8 per cent on pref. stock to · Saginaw & Mount Pleasant Railroad, 15 miles; total operated, be paid as dividend on common stock, but not exceeding 2 per cent a 362 .miles. A Receiver took the old company in Jtme, 1879 ; the year . road was sold August 18, 1880, under the consolidated mortgage, and Fort Wayne Cincinnati & Loulsville.-From Fort Wayne; reorganization was made and preferred stock ($6,500,000) issued for tne consolidated mortgage bonds, and comm.on stock ($3,500,000) is to be Ind., to Connorsville, Ind., 104 miles; branch to Rushville, Ind., 24 issued for the old stock. The common stock has no present right to vote miles; total o erated, 128 miles. The Fort Wayne Muncie & Cincinor to receive dividends, and will be issued only after the preferred nati Co. defaulted and a receiver was appointed Nov., 1874. The road stockholders have received 7 p er cent yearly dividends for five con- was sold in foreclosure, July 27, 1 881, to Elijah Smith, for the bond secutive years. The preferred stock is not cumulative, and after 7 per holders, for $1,000,000. The 'bondholders reor~anized under this name. cent per annum is paid on both classes of stock, the balance of income, Gross earnings in 1884, $246,397; net, $33.35~. Gross in 1883, $260,306; net, $16,385; interest paid, $3,500, Elijah Smith, P res't, N. Y . if any, is to be divided ratably. Rentals paid ........ Interest on debt ..... Other interest ....... Dividends ........... Rate of dividend .... https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 239,572 152,500 46,229 297,000 (7) 230,164 177,500 51,225 297,000 246,809 200,000 12,332 272,250 (6) ---- ----- - - - - - - - - DECEMBER , RAILROAD STOOKS AND BONDS. 1685. l Sub s cribers -will c onCer a g r e at Cavor b y giving imme dia t e notice o f a ny e rro r dlscove:red in these Tables. Bonds-Princi INTEREST OR DIVIDENDS. DESCRIPTION. -pal,When Due Miles Date Size, or Amount of Par For explanation of column headings, &c., see notes of Rate fer When Where P-Mi_able, and by Stocks-Last Road. Bonds Value. Outstanding Cen. Payable Dividend. om. on first page of tables. Fort Wayne Oincinnati cl! Louisville--Stock .. -··· ... Notes.· -·· ........... --··· ... -·-·· •· • ···· ·····-·· ··· Fort W01·th cl! Denv. Oity-lst M.,gold ($25,000 p.m.J iPrede1·ick cf; Pennsylvania Line-1st mortgage ..... •Galveston Harrisb.cf; S.A.ntonio-lst mort, gold, 1. gr. 2d mortgage .. ................. . ...... - .. .......... Western Division, 1st mortgage, gold.· -··-······ do do 2d mortgage .. ..... 'Galveston Houston cf; Hend. of 1882-lst mort.,guar Geneva Ithaca cf; Sayre-lat mort., s. f., gold ....... 6eornia Pacific-lat mort., $10,000 per mile.·-·· .. 2d mort., income ($15,000 p. m.) ...... _.. __ ....... Gem·gia Railroad cf; Banking Oo.-Stock. _........ _. Bonds, not mortgage ......... . ................ . .... Bonds, not mortgage ($300,000 mature in 1922) .. Macon & Augusta, 1st mortgage .. _. .. _........... Grand Rafid,s d: Indiana-Stock._ ...... ..... ... .. .. 1st mor ., land grant, gold (guar. by Pa. RRJ ..... 1st mort., gold, ($675,000 are land grant) . .. _..... Six per cent mortgage .............................. Consol. mortgage for $13,000,000, coup. and reg. Green Bay Winona d: St. Paul-1st mort. coup ..... 2d mort. income bonds, reg .. non-cumulative ..... Gulf Colorado cf; Santa Fe-1st M., g. ($12,000 p.m.; 2d mortgage ($8,000 per mile) , gold. __ .......... Hannibal ti: St. Jose;,,h-Common stouk . ............ Preferred stock ( p. c. yearly, not cumulative). Consolidated mort. (for $8,000,000) ..... .. _.... _.. Bonds iuincy & Palmyra .tlR .... ··-········- ·--· Bonds ansas City & Cam. RR ...... _.... _........ - - - - ---128 . ... -- -· $1,000 1883 ·--· 1:~~ I •.ooo.••· I Fort Worth & Denver City. -From Fort Worth, Tex., northwest, to Harrold, Tex., 144 miles. Stock, $20,000 per mile, $2,880,000; par value of shares, $100. Gross earnings year ending Oct. 3!., 1884, $472,162; net, $221,002; interest, $143,400; surplus, $69,030. Gross earnings for year ending October 31, 1885, $448,711; net, $197,632; fixed charges, $154,200; suq>lui;i, $43,432. Morgan Jones, President, .Fort Wortn. Annual reoort m v. 40, p. 60. (V. 39, p. 681, 707; v. 40, p. 6 0 , 92, 240,281, 393,4 24, 508, 684, 763; v. 41, p. 23, 133, 241, 392, 494, 612, 688.) Fred erick & Pennsyl vania Line.-Owns from Kingsdale to Frederick City, Md., 28 miles. It is leased to Pennsylvania RR., which pays interest on first mortgage. Preferred stock held by Pennsylvania RR., $461,000; common stock, $318,100; fl.oatin!t debt, :coupons, &c.), $153,222. Charles E. Trail, President, Frederick \Jity, Md. Galveston Harrisb urg & San Antonio .-(See llap of Southern Pacifi,e.)-Owns from Houston, Texas, to San Antonio, Texas, 217 miles; LaGrange Extension, 28 miles; Harrisburg to Pierce Junction, 8 miles; leased, Harwood to Gonzales, 13 mile!:'; total, 266 miles. Western Extension, San Antonio to Rio Grande River, connecting with Southern Pacific, 636 miles; Eagle Pass Branch, 35 miles; total Western Extension, 661 miles. Grand total, 936 miles. The extensions to the Rio Grande at Eagle Pass and to El Paso were completed late in 1882. This company was successor to the Buffalo Bayou Brazos & Col. Railway in 1870. The capital stock outstanding ou the whole road is $~7,061,544. The 1st mort covers 256 miles of old road and 1,500,000 acres of land. The proceeds of land sales are used to retire the bonds, and also a sinkin"' fund of 1 per cent, but it is optional with bondholders to surrender their bonds, if drawn. Of the second mortgage bonds due 1931, the company holds $355,fiOO; and of the second mortgage due 1905, it holds $365,000. In June, 1881, a large interest in the stock was b@u~ht by Southern Pacific parties. The mortgages en the Mexican Pacific extension cover 636 miles of road, from San Antonio to El Paso, and the Eagle Pass branch, 35 miles671 in all. T. W. Pierce. President, Boston. The land grant is sixteen sections (10,240 acres) per mile. For seven months of 1885 from Jan. 1 to July 31, gross earnings were $1,633,123 , against $1,492,057 in 1884; net, $700,818, against $279,649. Earnings and expenses for three years were : 1882. 1883. 1884. Miles operated._.......... 713 746 936 Gross earnings...... . ... . . $1,982,853 $3,686,767 $2,902,5&1 Operating expenses...... 1,259,184 2,270,046 2,035,816 Net earnings.......... Rental received._ ..... _... Total.. .....••. ·-······ Interest paid ... . ·-··· - --· $723,669 2E-6, 759 $1,416,721 $866,775 682,514 $1,416,721 1,224,995 $866,765 1,276,861 ---$1,020,428 --- --- Balance ..... - - ········Sur.$337,914 Sur. $191,726 Def. $411\086 -(V. 39, p, 2 33 , 32-1, 734 V. 40, p. 61,153, 305, 394, 741; V. 41, "{), 23 134,190,21 5, 216, 357.) Galve s ton H ouston & H e nde r s o n o C 1882.-0wns from Gal veston, Texas, to Houston, Texas, 50 miles. The road was opened in 1853-4 and sold in foreclosure Dec. 1, 1871, and reorganized as the G. H. & H. of 1871. In July, 1880, the company defaulted on its interest and the road was sold in foreclosure Aug. 1, 1882, for $460,000, and purchased in the interest of Jay Gould and Russell Sage. The bondholders, by agreement with the purchasers, received new 5 per cent bonds for their old bonds, and the road is leased for 99 years, to the International & Great Northern Railroad Company and bonds guaranteed by that compa,n y. Stock of the new company is $1,000,000. In 1884gross earnings were $289,118; expenses, lf3l 7,979; deficit, $28,861. -(V. 40, 5 0 6.) Geneva_ I thaca & Sayre.--Owns from Geneva, N. Y., to Sayre, Pa., 75 miles; branch, Ithaca, N. Y., to Cayuga, N. Y., 38 miles; Hayt's Corners branch (leased), 3 miles; total operated, 116 milesOrganized October 2, 1876, as successor of the Geneva Ithaca & Atnens Railroad (sold in foreclosure September 2, 1876), which had been formed by consolidation of the Geneva & Ithaca and Ithaca & .A.thens railroads, May 25, 1874. In 1880 absorbed the Cayuga & South. RR., 37 miles. The common ,irock is $1,275,000; preferred, $400,000 Gross earnings year ending i:,..,pt. 30, 1883, $519,246; net, $72,354; lnter~st, $60,468 .. Surplus $11,586. In 1883-8!, ~oss, $430,938: de:fl.01t, $152,120; mterest payments, $66,330; total derl.cit, $218,449. Geor;-~a .Paclfic.-Atlanta, Ga., to Coalburg, Ala., 177 miles; Cane Cree1=<, Ala., to Columbus, Miss., 75 miles; Greenville, Miss., to Johns~mnlle and branch (N. G:I, 5:.:! miles; other branches. 9 miles; in operation Oct. 15, 1884, 313 miles. Between the western terminus of First Di,. at Coalburg and eastern. terminua of Second Division at Cane Creek is a _gap of 41 miles to be built as soon as practicable. The Georgia Pacific has been built by Richmond & Danville Extension Company, and operated in the R. & D. system. The capital stock is ~7,8 35.000. Gross earnings year ending Sept. 30, 1884, were $5-17,974, and net, $168,978. There were $240,800 car trust notes, but carryin"' no interest. (V. 39, p. 706 l "' Georgi~ Railroad & Ban~ing Co.-Augusta, Ga., to Atlanta, Ga., 171 Illlles; branches to Washington and Athens, 60 miles; Warren- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis - - -· $4,000,000 100,000 i¥,i 1881 1,000 2,750,000 28 1870 500 &c. 250,000 256 '71-'80 1,000 4,7,36,000 226 1880 1,000 635,000 671 1881 1,000 13,41B,OOO 671 1881 1,000 3 ,354.000 50 18 33 1,000 2,000,000 35 1870 100 &c. 600,000 313 1882 1,000 3,134,000 202 1883 1,000 3,031,000 307 ..... 100 4,200,000 .... . ... 500 133,000 ....... 77&80 1,000 2.300,000 1,000 77 1867 275,000 367 100 4,985,081 --- - 1,000 367 1869 3 ,934,000 367 1869 1,000 1,441,000 367 1884 1,000 2,i'00,000 367 1884 1.000 3,217,000 219 1881 1,000 1,600,000 1,000 219 1881 3,781,000 1,000 570 1879 7.M0,000 268 1885 1,000 2,144,000 292 100 9,168.700 292 100 5,083,024 292 iss'i 15 433,000 53 i867 1,152,000 ··,r -- ..... N. Y., Mercantile Tr. Co. Pennsylvania RR. Vo. N.Y., D.,M.&Co.,&J,ona. N. Y., Drexel, M. & Co. New York. do New York. N. Y., Metrop. Nat. B'k. N. Y., Central Trust Co. ·:i3·osioii. · Ju.iie·i;·i893 Dec. 1, 1921 Oct. 1, 1900 Feb. 1, 1910 June 1, 1905 May 1, Hf31 July 1, 1931 April 1, 1913 July 1, 1890 Jan. 1, 1922 A.ugusta,;iia:: RR. Bank. do · do do do do do J an.'. .ii5:·i8S5 1886 & 1890 '97, 1910, 1922 Jan. 1, 1887 J ..&.. J. N. Y., Wlnsiow:·L. &Co. 7 g. A.. & o. do do M.&N. 6 do do M.& S. 5 do do 6 F. &A. L ast paid Aug., 188 -t. :\l. & N . La t paid Nov., 1884. 8 7 g. J. & J . N.Y.Nat.CityBk.&Galv. 6 g. A.. & 0. New York, Nat. City Bk 1899 Nov. 1, 1899 Sept. 1, 1924 Feb. 1, 1911 May 1, 1911 Jull. 1, 1909 Oc, 1, 1923 6 g. 6 6 g. 7 5 g. 6 5 7 g. 6 6 219 7 6 7 J. &D. J. & D. A.. & o. F. & A. J. & D. M.&N. J. & J . A. & 0 . J. & J. J. & J. .A. & 0. Q.-J . T. & J. J. & J. J. & J. ··,rg. ··:r 6 8 10 -i899.. F. &A. N. Y., c°ompany;s Office Feb~ i5: "i883 M.& 8. N.Y., Bk.of No.America. Mar.1, 1911 F. &A. do do Jan., 1892 J. & J. do do Jan., 1892 . ton, Ga., to Macon, Ga., 76 miles; total owned and operated, 307 miles. The Western Railway of Alabama is controlled jointly with the Central RR. of Geor~ia, this company holding one-half the stock of $3,000,000, The l\facon & Augusta RR., 76 miles, is owned by this company. The Port Royal & Augusta RR. is owned o~e-fl.fth part by this company; the Atla:J?-ta & West Point thirty-five one hundredths by this company. In April, 1881, a lease for 99 years was made to W. M. Wadley and associates, for the Central of Georgia and the Louisville & Nashville railroads, at $600,000 per year, p eyable semi-annually, and dividends are 2~ per cent quarterly; the deficit to tllese companies in 1884-85 on the lease was $98,599. ln 1884.-85 net income from all sources, including bank, was $653,729 leaving a surplus of $32,581 above all charges, mcluding 10 per cent dividends. Total surplus of RR. Co. Mar. 31, 1885, $991.961; of Bank, $175,862. Gr and Rapids & Indl ana.-Owns from Fort Wavne Ind., to Bay View, Mich., 332 miles; branches to Carey's, Mich., 15 miles; Deer Lake, 7 miles, and Mitchell, Mich., 8 miles; total owned, 362 miles; leased and operated: Um. Richmond & Fort Wayne RR .. 86 miles; Traverse City Railroad, 26 miles; Bay View Little Traverse & Mackinaw Railroad, 6 miles ; total, 480 miles. The Grand Rapids & Indiana Railroad is operated in the interest of the Pennsylvania Railroad Co., and $4,000,000 of the first mortgage bonds are guaranteed by that company, which buys the coupons each year if any remain unpaid by the earnings. First mortgage bonds r~ deemed by the sinking fund are replaced by 5 per cent bonds issued. The Co. had land grants amounting to 852,960 acres, and sold in 1884 10,971 acres, for $92,993, an average of $8·47 per acre. The lands unsold on Jan. l, 1885, were 449,9 21 acres. The assets were $189,213 bills r eceivable, and cash with cashier, $29,223. Earnings for three years past on main line. and income account, were as follows : E \.RNING3 AND INCOME .A.CCOUN"T. 188~. Gross earnings .... ·-····-··· · ··· · · $2,260,291 Operating expemes and taxes.... 1,6 7~.236 Net earnings .... ·--···-····· Disbursements- Inter est on debt . .................. Interest on Pen n. Co. note . __ ..... Loss on auxil'y roads, advances, intere:1t, &c., &c ... . : ..... .• • .• •. -$582,055 -- 1883. $2,361,605 1,721,507 1884.. $2,116,299 J ,502,579 --$640,098 $613,720 $!78,065 25,90 3 $H9,995 25,902 $387,068 28 ,907 57,173 *158,9 48 --- --- 21,586 Total disbursements._... . .. $\32.875 $533,070 $537,602 Balanre .... .. ......... .. ......... sur.$..9,180 sur .$L07,0 28 sur.$i6, ll8 "Inclu des in 188! $89,0 75 for interest upon debt to the guarantor for coupons of years previous t o 188i. -(V. 39, p. 71; V. 40, p. 5 39.) Green Bay Winona & St. P a u l.-Owns from Green Bay, Wis., to Marshland, Wis., 209 miles; branches, 10 miles; leased-Plover to Steven's Pt., 6 miles; total, 225 miles. This was a reorganization in 188 l of the Green Bay & Minnesota, which company made· default and the road was sold March 12, 1881. Preferred stock is $2,000,000, and entitled to 7 per cent when. earned, and common stock $8.000,000 both stocks $100 share!'. On Feb. 1, 1885, default was made on the first mortgage intereEt, and. the Farmers' Lo!l.n & Trust Co., of New York, trustee of the mortgage, took possession. For the year ending June 30, 1885, gross earnings were $303,190, against $40 I, 118 in l 884; net, $33,043, against $104,890; taxes and interest, 1884-85, $102,58'6, against $S2,458 in 1884. Samuel Sloan, President, New York. (V. 39, p. 409; v. 40, p. 181, 385; v. 41, p. 1 8fl, 355.) GulC Colorado & Santa F e . -Mileage was al:! fullows August, 1885: Galveston to Goldthwaite, 320 miles; Fort Worth Division, Temple to Fort Worth, 128; Northeaatern Divi ion, Clel)urne to Dallas, 54; Eastern Division, Somerville to International Road. 74 miles; Houston Division, Alvin to Houston, 24 miles; total 600 miles. Road opened late in 1878 (63 1niles), and sold and reorganized ·April 15, 1879. Formally opened under the new regime August, 1880, and has been rapidly extended. Stock, $4,560,000. · In 1884: the fl.seal year was changed from July 31 to end with Dec. 31, and in the report in CHRONICLl<l, V. 40, p. 683, the income · account is for the 17 m onths. In July, 1885, tbe old second mortgage at $13,000 per mile was retired and canceled and the new serond mortg. at $8,000 per mile was issued. In tlle table below the earnings are fot· the 17 months en.ding D ec. 31, 1884, but previously for the years endinE July 31. 1881. 1882. 188.1. 1884. (17mos.) Miles at end of year.. 226 430 546 536 Gross earnings._ ..... $777,434 $1,251,073 $2,068,957 $2,781,208 $414,093 $740,494 $411,547 Net earnings·.. -····-· $245,940 Disbm·sements- R entals. - - · · · · · ..•.• .. $17,417 Interest on debt...... 146,033 $13,458 291,900 -$305,358 --- $ ..... ___ 430,001 $-·-··--563,666 Total dlsbursem'nts $163,450 $-130,001 $563,666 Balance; surplus .... _ $ 82,490 $108,735 $310.493Def.U52,120 -(V. 40, p. 270, 68 3, 763; V. 41, p. 24, 50, 77, 155, 306, 473, 55d, 721.) Hanni~al & St. J oseph.-Owns from Hannibal, Mo., to St. Joseph, Mo., 206 miles; branches-Uameron to Kansas City, 53 miles; St. Jo;ieph to Atchison, Kans .. 19miles; Palmyra to Quincy, ill., 13 miles; total operated, 292 miles. · c:r: • J 1 Q u i c:r: A ;), ii "' ; ~ ,----------- . oSt.! ho:rnas I c,O 1,oraQ'>0 ~ t> H ~ ~ A R https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 0 I = ,;· ~ rn r-:3 0 a ~ rn ~t, ___ ..._f ___ chuca t::d 0 I ...,: § rn s MAP OF TH E GULF, COLORADO AND SANTA FE RAILWAY Carmen .,: 50 Puerto PROPOSED EXTENSIONS AND CONNECTIONS 1886. 0 E x F I C 0 ':3 0 r ~ ~ t--1 DECEMBER, 1885. J RAILROAD STOCKS ANP BONDS. Subscribers -w-ill conf'er a great Cavor by giving ilnlllediate notice of' any error discovered in these Tables. Bonds-Princi INTEREST OR DIVIDENDS. DESCRIPTION. Miles Date Size, or pal. When Due .Amount of of For explanation of column headings, &c., see notes Par Rate per When Where Payable, and by Hocks-Last Road. Bonds Value. Outstanding Cent. Payable Dividend. on first page of tables. Whom. -- --- Harrisb. Portsni'th Mt. Joy&: La.nc.-Stock ........ 1st mor., registered (extended 30 years in 1883). HatTisburg &: Potomac-1st mortgage, coupon. __ ... Hartfm·d &: Oonneclicut Western-Stock._ ... __ .... . . B~:!~iftt~~\etock·. -_: ·:. -_-_-_-. -_-_-_-_-_ -_-_-_-_-_-_-::::::: ·. . _-_-_-_-_-_Preferred stock .................. _.. _............ . .. 1st mortfge. coupon ...... _.. _............... . - ... 2d mort. onds of 1869 .............. . . . .. . .. .. .... Consolidated mort .. reg ......................... . .. Rolling stock certificates.:_ ....... _. ........ ..... .. Roust. .l!)ast & West Texas.-lst mortga~e, gold .. __ . 2d mort., land grant ($5,000 per mile) ..... . . . .... Hoitston &: Texas Oent.-l.st M., (main) gold, l.gr.,s.f. 1st mort., 1. gr., West div. (Hempstead to Austin) 1st M., gold.Waco & N' west (Bremond to Ross) .. - . Consol. u:;;;;_-t,., laud grant, Main and Western Div. Consol. mort. , land 1;rant, Waco & Northwest .. .. . Gen. mort., gold (for $18,500,000)..... . ...... . .. Himtingdon &: B1·ocid Top-1st mort., gold .......... 2d mortgage, gold ..... _... _........ _...... . ........ 3d mortgage consolidated .. _... _....... - ... - .. - ... Scrip for interest 1st and 2d mortgageo .......... 1853 1874 ---· 1883 ... . 1865 ---.... 1869 1880 i¥o is1g $50 500 &c. too &c. 100 1,000 100 100 500 &c. 500 &c;i. 500 &c. -- -- 1883 1866 1870 1873 1872 1875 1881 1854 1857 1865 ---· f .... 1:000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 500 500 1,000 706 706 706 706 1"tii5 1874 1875 1885 100 £200 £200 £200 1,000 140 345 119 58 464 58 522 64 6i 64 ntinois Oe.ntral-StocK ....... ...... . .. _....... - . ... } l,928 Leased lin e 4 per cent stock, guar. _............. Mortgage bonds, sterling . _• . .. _.. _... . ............ Sterling bonds, (sinking fund £20,000 yearly) .... Mortgage, st rling ........ _. _... _.. _.......... _.. _.. Mortgage bonds, gold . .......... _. ... _.. __ ....... . . ---- 54 54 38 108 104 127 127 74 ·ioo The company was chartered Feb. 16, 1847, and road comJ)leted to St~ J oseph in Feb., 1859. The branches were built under different organiza tions. ·.r.tie Bridge across the Missouri RiYer at Kansas City is owned· The company had a Congressional land g-rant and received $3,000,000 in bonds from the State of l\1issour1, which loan was repaid in C'ash in June, 1881, but litigation followed as to the interest payable on the State bonds, the State claiming interest should be paid to it at 6 per cent till maturity. Th e U. S. Circuit Court d ecided tbe further sum of $476,049 to be due the State, and the case is yet pending on appeal. The land .grant has b een practically closed out. In September, 1882, a syndicate, inc·luding Jay Gould, Russell Sage, and others, bought abo ut fl0,000 shares ot common stock from John R. Dull', of B oston, and in l\Iay, 1883, t his common stock and a larie amount of preferred were sold to the C. B. & Q. RR. Co. at 45 for tue -0ommon and par for the preferred, payable in C. B. & Q. 5 per cent bonds ~~~ . Preferred stock has prinr right to a non-cumulative dividend of 7 :per cent; then common to 7; then both share. Fiscal year ends D@c. 31. Annual election occurs in November. The income accoums have shown a sur ,,ltt~ for 18:3'1 over au ch;i,rgcs oE !!l4'15. l68, a surplus of $353,698 in 1883, aud a surplns of $39,810 in 1882 after paying $330,395 for a 012 per cent dividend on preferred stock. (V. 40, p. 182, 240, 270.) Har1·lsburg Po1·tsmout1l. 1'Iount Joy & Lancaster.-Owns from Dillerville, Pa., to Harrisburg, Pa., 36 miles; branch, l\Iiddletown, Pa., to Columbia,, Pa., 18 miles; total operated, 54 miles. The property wa-. leased to the P enn~ylvania Railroad Co. for 999 years from Jan. 1, 1861, the rent.al bemg 7 per cent on the stock and interest on the bonds. Operated as a part of main line of Penn. RR. Harrisburg & Potomac.-Owns from Bowmansdale to Shippens burg, Pa., 32 miles; branch to mines, 512 miles; total operated, 3712 miles. Extensions projected from Bowmansdale to Harri burg. Bonds authorized, $1,800,000. Stock $370,165. C. W. Ahl, Pre ident, Boiling Springs, Pa. HartCord & Connecticut ,veste1·n . -Hnrtford, Conn., to Rhine-Oliff, N. Y., 108. Foreclosure slllt was begun in 1880 a ,zainst the former Conn. West., and the State Treasurer took possession. On May 25, 1881, bondholder'! reorganized, and stock in new company issued for bonds. In March, 1882, the purchase of the Rhinebeck & Connecticut Railroad was made for $800,000 in the stock of this company. Gross ~•1.rnings 1 884·8 -"> , $307,9:.24 ; deficit, $9,811. Gross in 1883-84, $333,~2t1; deficit, $10,597; interest, dividends, &c., $42,416; total deficit, $52,993. Housa tonic.-From Bridgeport. Conn., to State Line, Mass., 74 miles ; Brookfield. June. to Danbury, 6 mile:1; leased-Berkshire Railroad, 22 miles; West Stoclcbridge Railroad, 3 miles; Stockbridge & Pittsfield RR., 22 miles; total, 127 miles. The preferred 8 per cent stock was issued in 1845 to pay for laying the road with heavy iron. There are also $150,000 6 per cent equipment bonds due Feb. 1, 1888, and $66.000 5 per cent Danbury branch bonds due October 1, 1912. Operations and earnings for four years past as follows: Passenger Freight (ton) Gross Net Div. % Years. Miles. Mileage. Mileage. Earnins5s. Earnings. Pref. 1880-81 .. 127 7,846,,-94 17,277,336 $754,5.t3 $273,981 8 1881- 82 . 127 8,546,740 17,510,670 746,328 253,203 8 1882-83 .. 127 8,794,731 15.795,565 735 ,492 252,251 8 1883-84 .. 127 9,265,561 14,875,414 676,759 245,456 ·--· Houston East &; West Texas.-Owns from Houston, Tex .. to Loganspo:r;-t, La., 192 miles. (Narrow guage, 3 feet.) It i-s graded to Shrevepo1t. The company has a Texas land grant of 10,240 acrPs for each mile con trncted and equipped. Bonds issued to the extent Jf $7.000 per mile first mortgage and $5,000 per mile second mortga ...e, but up to S<'ptember, 1885, the 2d mortgage honds had not been :Sol'a:. Stock antllorized, :SI 0,000,000 ; issued, $1.f>OO,Ooo. In 1883 ~oss e1trnings. !f,301. 946 : net, $1 fi,612: interest on bonds, $69.600; .surplus for yenr, $1 i.- .0 ! 2, wll;llh was a.pplied·to construc!ion. In July, 1885, M. G . Howe, Assi ttnt Supe1inten1lt-nt of the Housto:1 & T exas <Central, was lJlli 'O:ntedrecl'iver If rllis comp:tny: th e connP.c-tinn to mnke .a tnrough lin e to 8hren?port wn.s about fiublled in October, 18.::55. -(V. 3~, p. 49::l; V. 41, p 50,215, 473.) D o ust on & Texas Central. ( See map of Southern PaC'ific )-Owns from Honstou , ·re:x.., to Red River City, Tex., 345 miles; branches -Hempstead, Tex., to Austin, Tex., 118 miles; Bremond, Tex., to Ross, ·.rex., 58 miles; total operated, 522 mile:1. Texas Central RR. completed from Ross to Albany, 177 miles. The company has a land ~rant from the State of Texas of 10,240 acres per mile, amount· mg to about 5,130,720 acres; but the lands are not on the line of t he road. Mr. Morgan, o! the Louisiana Steamship Line, bought a controlling interest in the stock, and in Februar y, 1883, the Southern P acific party purchased this interest ($3 ,985,500 of the stock) wit.h their purcha se of the Morgan property. Total stock is $7 ,726,900. The general mortgage of 1881 for $ 18,500,000 is mad"' to the Farmers' L oan & Trust Co. as trustPt?, which company holds $ 1. 500,000 Cncome and I ndemnity bonds and $1,149,000 consol. mortgage bonds as securit y . The cou1Jons due January 1, 1885, on first mort. bonds \\"ere not paid b y tlle Co., but were partly purcha ed by the 8outh er n Devillopment Co., though coupons on the second mortgages h ad b een p aid in Oct olx-r. See article in CHKO'.\'ICLE, V . 40, p . 43. aud parag r a pns on p . 7 2. The first mortgage is a first lien on the m ain line a t the r at e of $ 20,000 a mile https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $1,182,550 700,000 507,200 2,540,300 510,000 820,000 1,180,000 100,000 300,000 300,000 200,000 994,000 m 6,154,000 2,271,000 l ,140,000 4,046.000 Nil. 4,326,000 416,000 367,500 1.,197,000 118,895 29,000,000 10,000,000 2,500,000 4,000,000 1,000,000 1,500,000 319 4 7 112 5 ---112 July 10, July 1, Jan. J, Dec. 1, July 1, J. & "J. Phila., Co.'s Office. J. & J. do do J. & J. Pllila., Thh-d Nat. Bk. iiai-iroi,ii. J . .&.J. Q·_:..:j_ Bridg-eport & -Boston. T:ridgeport, Office. F. & .A. 7 do do 6 J . & J. do do A. & 0 . 5 5 7 g. M."&N. N. Y., Ultion. :r"1:ust Co. 6 do J. & J. do 7 g. J. & J . Last paid Jnly, 18c4 7 g. T. & J. Last paid July, 1884 g. J. & J. L ,st paid July, 1884 A. & 0. Last paid Oct., 1884 M.&N. 8 1881 6 CJ. A. & O. Last paid 7 g. A. & O. l'Wladelphia, Othce. F. &A. do do g. do A.. & 0. do J. & D. do 7 do 4 M.& s. N. Y., 214 Broadway. 2 J. & J. do do 6 g. A. & 0 . London. 5 g. A. & 0. London,Morton R.& Co. 5 g. J. &D. do rlo 4 g. J. & .r. New York. 214. B'dway. i Oct:, i 188 5 191'3 1904 188 2 1903 July-i5: i"8s 5Aug. 1, 1885 July 1, 188 9 Aprill , 1910 1889 1898 Jan. 1, 191 3 July 1. 189 1 July 1, 189 1 July 1. 1 9 01 Oct. 1, 1913 May 1, 1912 April 1, 1925 Sept. 30, 1890 l:<~eb. 1. 1895 A.pril 1, 1895 Deo. 1, 1H8 5 SC'l>t. 1, 1885 July 1, 1885 April 1. 1895 April 1. 1903 Dec. 1, 1905 June 1, 195 1 covering 345 miles of road; it is also a first lien on ten sections of land for each mile, or 2,208,000 acres. See notice of first rno1'tgage trustees in CHRONICLE advertisements, p . VI., on May 16, 1885. The second mortgage at 8 per cent, is a second lien on 4.63 miles of road and also a first lien on six sections of l and for each mile of road, being 1,777,920 acres in all. In February, 1885, B.G. Ulark and Chas. Dillingham w ere appointed receivers in a suit of the Soutlwrn Development Uo. against the railrnad , anrl. on July 31, 1885, $297,858 of receivers' certificates were outstanding . For nine months from Jan. 1 to Sept. 30, groRR earnin .!.!R were $1,538,r,93 in 1885, against $1,712,078 in 1884; net $161,649 in 188 5, against $536,795 net in 18 ~4 ; betterments, $57,384 in 18':l ;'i , :t ~am -t $493,441 in 1884; surplus in 1885, $l04,265, against $4.3,3:'l4 n 18134. Thefnllowiugstatementof gross earnin6's, operating 1q>CnRe -,, amount;! charged to renewals and betterments, ana gross intern •t charges, in each of the past four years, shows that, excluding betterments, rene -. als and interest on :floating debt, the income was much more tlla.n suffi cient to meet the first mortgage interest. 1884. 188~ 188~ 1881. Gross earnings .•. . .... $2,590,375 $3,251,875 $3,156,517 $3,748,655 Operating expenses .. $1,579,9!)3 $1,713,771 $1,748,901 $2,141,872 Betrerm'tf'l,renewals & int. on floating debt. 719.290 845,185 608,066 1,095,052 ---- ---- ----- ------ T otal expenses ..... $2,299,283 $2.5.;:8,956 $2,3'i6,970 $3,2 rn,924 Sm•plus for interest... $291,092 $662,919 $79H,547 $511,731 Int. on bonded debt .. . 1,193 ,200 1,193,200 1,193,25 .'i 1,139,965 D eficit-···· - ··--······ $902,108 $530,281 $393,708 $628 ,234 -(V. 40, p . 43, 61, 92, 120, 15 l. 2 lO, 269. 337. 39.J.. 424, 45 -1, 48 I, :'i97, 6 52 ; V . 41, p. 24, 76, 77, 155, 160, 189, 190, 215,330,392 ,5 27, 720.l Huntin«don & Broad '.Cop.-Owns from liuntingdon, Pa., t o Mt. Dallas, '.Pa., 45 miles; branc11es-Shoup's Run, 9 mileR; Su Mile Run, 4 miles; and Sandy Run, 3 miles; Long's Run Br., 3 miles ; total operated, 64 miles. This road was opened in Jul_y, 185G. Tlle canital stock is $1,368,650 common and $1,984,600 7 p er cent pref. stock. In Febr11o;1,ry, 1 ~84, a dividend of 7 .-, cents per share was paid on pref. stoek. Earnings in 1883, $424,494; net, $196,651. In 1 -:l84, earn• ings, $333,560; net, $175,724. (V. 40, p . 182.) Illinois Central .-(See Map.J-LINE OF ROAD-The Illinois Central Co. operates a system embracin,q- 2,066 miles of road. Main lineChicago to Cairo, 365 miles; Dunleith to Centralia, 341 miles. Branches -Otto to Colfax, Ill., 60 miles; Buckingham to Tracy, Ill., 10 miles ; Kempton Junction to Kankairee Junction, Ill., 42 miles; Colfax t o Bloomington, 20 miles; total 132 miles. Southern Division-New Orleans. La., to Cairo, Ill., 548 miles; branches: Kosciusko Junction, Miss., to Aberdeen, Miss., 108 miles; Durant to L exington, l\Iiss., 1 2 miles. Total owned, 1,664 miles. Leased-Dubuque to Iowa Falls, 14 3 miles; Iowa Falls to Sioux City, 183 miles; Waterloo to Minnesota State Line, 76 miles. Total leased, 402 miles. Total operated Dec. 31, 1884, 2,0 66 miles. On Jan. 1, 1883, took form;tl possession of the Chie. St. L. & N. 0. RR., now known as "Southern Division," 0RGA1HZATION, LEASES, &c.-This company was chartered in December, 1850, and organized in March, 1851, and the whole road, 7 07 miles, opened September, 1856. The Illinois Central was one of the fLrst, and has been one of the most successful, of the land grant roads. The lands granteit were upon the condition that the company should pay to the State 7 per cent of gross earnini.s yearly in lieu of taxes. The Springfield l l1 vision was acquired by a lea.se of the Chicago & Sprin~field (Gilman Clinton & Springfield foreclosed) for 50 yea.rs, but roaa is practically owned. The leases of Dubuque & Sioux City R R. and Iowa Falls & Sioux City are on differ ent terms. (See the names of those companieR.) The company acquired a controllini interest in the Chicago St. Louis & New Orleans R a ilroad, to whicn it made large advances From July 1. 1882, l eased the Chicago St. Louis & New Orleans for 400 years, at 4 per cent p er annum 011 stock, and issued the above 4 per cent lrased line stock. in exehange for the Chic. St. L. & N. O. stock. F iscal year ends Dec. 31 . Annual election hC'ld in ~iarch. the Chicago St. Louis & Ne w Ol'leans the lessee guarantees ihe STOCK AND BONDS.-The Illmois Cent. stock has been held largely in England. The bonds of the company proper are very limited. On principal and iRtef'est of all the ,outstanding bonds prior to the 5 per cent bonds, and, by an indorsement on the latter bonds, ~uar antees the payment of the interest on the same until the princip a l is paid. Of the first mortgage bonds, $541,000 are a prior lien on that portion of the road in Tennessee. The consolidated 5 per cent mortgage bonds of 1951 are isr:med for redemption of prior bonds, and their amount is limited to $18,000,000. Dividends paid since 1870 (prior to current year) have been: in 1871, 10 per cent; in 1872, 10; in 1873, 10 ; in 1874, 8; in 1875, 8; in 1876, 8; m J 877, 4; in 1878, 6; in 1879. 6; in 1880, 6; in 1 881, 7; in 1882, 7; in 1883, 8, and 17 per cent in Chic. St. L. & N . o. stock, exchangeable for leased line certificates ; in 1884, 10. Prices of the stock yearly since 1870 havebeen : in 1871, 132'@13912 ; in 1872, 119'@140; in 1873, 90 'itil2612; in 1874, 90 w10 812 ; in 1875, 88 12-w l 0612; in 1876, ti0 7 f;! irl03 ¾; in 1877, 4012'@79 ; in. 1 87 8, 7 2 38@87 ; in 1879 , 79¾1,<a>lOO¾; m 1 880, 9912'a< l 27 3s; in 188 1, 1241H 46 12; in 1882, 1 27 34,1i>l 5012; in 1883, 124. '@148 · in 1 884 llO a, 140 · in 1885 to Dec. 18 119½1'iU39½1. 46 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD STOOKS AND BONC,S. (Vor.. XLI. RAILROAD DECEMBER, 1885.] STOCKS AND BONDS. 47 Snbscrlbors will conCer a great :favor· by giving hnJDediate notice ot any error discovered In these Tables. DESCRIPTION. Miles Date . 8 1ze or Bonas-Princt INTEREST OR DIVIDENDS. Amount pal,When Due. For explanation of column headings, &c., see notes Roofad. Boonfd:-: Vpalaure. Outstanding Rate per When Where Payable, and by stocks-Last on first page of tables. Illinois Oentralr-( Continued)- " Bonds, coup. $2,000,000) M. on Ch. & Sp. RR ... . Bonds, reg., mortgage on Middle Div ........ . ... . Chic. St. Louis & N. 0., 1st M. (N. O.J.& G. N.) ... . do do 2d M. do ... . d do 2d mort. (Miss. Central) .. do do 1st mort ................. ·.. do do 2d mort ........ .......... . do do cons.M., gld. (for $18,000,000) Illinois Midland-lat mortgage, gold .............. . Indiana Bloomington cf: West.-Stock ......•......... 1st mort., preferred, coup. or reg ................ . 1st mortgage, coup., may be reg ................. . Income bonds, reg., convertible ................. . Consol. income bonds for $6,000,000 ............. . 2d mortgage, coupon or reg ..........•............. 1st mortgage, gold, Eastern Division ............. . Sinking fund debentmes .... . .......•..... . .•.... Indianapolis Decatur cf; Springfieldr-lat mort., gold 2d mortgage, gold ........................ . ........ . Indiana Illinois cf; Iowa-Bonds ..............••.•••• 2d mortgage .......... ..... ...... ..... ........ ..... . Indianapolis cf: St Louis-lat mort., in 3 series .... . Mort for $2,000.000, gold, (end. by C. C. C. & I.). Indianapolis cf: Vincennes- lat mortgage, guar .... . 2d mortgage, guaranteed ............ ..... ........ . Iowa F'alls cf: Siottx City-Stock ..................... . 1st mortgage. April 1, '09 ........................ . Ithaca Attbw·n cf; West.-lst mort.(for !!'500.000) ... . 2d mortgage. (income for 3 years) ................ . 111 131 206 224 11:!5 1877 1881 1856 1860 1865 1877 1877 1881 1875 153 153 1879 1879 1881 1879 1881 1883 1876 1876 1882 1883 1869 1882 1867 1870 567 567 567 147 696 202 202 202 342 202 140 110 110 72 72 117 117 is19 184 184 1869 38¾ 1876 38¾ 1877 _____ $1,000 $1,600,000 1,000 968,000 1,000 2,690,000 1,483,000 1,000 100 &c. 563,100 1,000 1,4.00,000 1,000 80,000 1,000 11,774,000 4,17b,000 ·ioo 10,000,800 . 100 &c. 1,000,000 500 &c. 3,500,000 100 &c. 72,300 1,000 4,565,000 500 &c. 1.500,000 1,000 3,000,000 1,000 500,00~ 1,000 1,800,000 2,778,000 1,000 1,000 600,000 500 140,000 1,000 2,000,000 1,000 500,000 500 &c. 1,700,000 1,000 1,450,000 100 4,600,000 500 &c. 2,800,000 100 &e. 377,000 100 &c. 498,090 OPERATIONS AND FINANCES.-The Illinois Central for many years paid 10 per cent dividends, as the road drained a rich territory, of which it was the only outlet to Chicago. But tl!e building of numerous east anc! west lines crossin[G its road cut into its business severely, The company, to extend its busmess, acquired the line from Cairo to .New Orleans, and invested largely in improving the property. Its operations are now included in the Ill. Cent. The Ill. Central owned $9,992,700 of the $_10,000,000 stock, of which $4,4.22,700 were pledged against the leased lme 4 per cent stock, and the balance of $5,570,'JO >was owned absolutely by the Illinois Central, and in June, 1883, a distribution of 17 per cent in this stock was made to Illinois Central stockholders. For l 884 the annual report in V. 4.0, p. 266, showed that the surplus over all charges (includin~ construction and equipment accounts) and 8 per cent di vidends was $1 -.s7,928. The profits of the whole line, aa against the increased liabilities, are seen in the figures below : INC01\1E ACCOUNT. Road operated ..........•..........•........... Receipts- 1883. 1,928 $ 1884. 2,066 $ Gross earnings ................................ . 13,064,743 Net earnings . . ....... .................. ....... •. 6,629,472 Interest ...... . ........................ ...... . 293,009 Miscellaneous .......... ...... .. ; .... ... , ...... . 202,228 12,190,833 6,062,321 188,967 121,206 7,129,707 6,372,494 Total net income ...••. ........ ...... . .... Disbursements- Rentals, incl. int. on bonds of leased lines ... . Interest on Illinois Central debt .... . ......... . Dividends on Ill. Cent. st'k & leasedlinecerts. Taxes .....• . ..................................• Construction accounts . ... . . . . . . . . . . . . . ...... . . .Additional equipment account ..•..........• •. Miscellaneous .. .................... ............ . $ 1,891,538 538,750 3,300,000 559.980 632,529 5(),000 $ 1,787,316 5!16,900 2,7:20,000 E:45.269 219,913 250,000 165,138 Total disbursements...................... 6,972,797 6,234,566 Balance, surplus................................ 156,910 137,928 (V. 39, p. 264; V. 40, p. 61, 103, 121, 214,266,337,716; V. 41, p. 585, 612.} Illinois 1'Ildland.-Operates from Terre Haute, Ind., to Peoria, Ill., 173 miles, of which 148 miles are owned and 28 miles leased Thls was a consolidation Nov. 4, 1874, of the Peoria Atlanta & Decatur, P aris & Decatur and Paris & Terre Haute. Receiver appointed Sept. 11, 1875. There were prior mortgages on the roads forming this consolidated company, and notice of sale in foreclosure was given 1n June. 1885. In 1883·84, gross receipts, $249,174; net, $11,537. In 1882-83 gross earnings were $2ll,186: net, $278. Stock$2,000,000. D. H. Conklin, Receiver. (V. 41, p. 23, 2H.) Indiana Bloomington & Western.-Owns from In·dianapolis, Ind., to Pekin, Ill., 20~ miles, and Indiauapo]js to Springtleld, Ohio, 142 miles. Leased, Pekin to Peoria, 9 mlles; Springfield to Sandusky, 0., 130 miles; Cary, 0., to Fmdlay, 0., 16 miles; Springfield to Columbus, 45 miles. Total operated, 543 miles. This was a consolidation in March, 1881, of the Ind. B. & W. and the Ohio Ind. & Pacific. The Cincinnati Sandusky & Cleveland and branch was leased in April, 1881; but of this, 24 miles (Springfield, 0., to Dayton) is leased to Cincinnati & Springfield. In April, 1885, the lease of the Indianapolis Decatur & Springfield road was given up . The former Indianapolis Bloomington & Western Company defaulted Oct. I, 1874, and a Receiver was appointed Dec. 1, 1874. The road was sold in foreclosure Oct. 30, 1878, and the company reorganized. On the first and second mort. bonds the interest wa.s 3 per cent 18791882, 4 per cent 1883-84, 5 per cent 1885-1887, and 6 per cent thereafter until matlffity. The income bonds take such interest from July 1, 1879, not exceeding 6 per cent per annum, as the net ea=m.ngs may suffice to pay. $830,000 stock scrip was issued entitled to a dividend of 7 per cent fier annum, after a dividend of 8 per cent on the common ~~c:ertfti~efut~ec~=~n~t~fcf 7 per cent dividend, the stock scrip is The company suffered much from the war among the Trunk line;; in 1884 and 18E5, which reduced rates, and it also found the Indianapolis Decal ur & ~pringfield lease unprofitable, and was at a loss on that account. No report of operations in 1884 was made, but the Ohio Commissioner's report for the year ending June 30 ha•l the following: 1833-84. 1884-85. Gross earnings .............................. $2,901,553 $2,582,935 Expenses... .. . .... .... . . . . . . . . . . . . . .. .. .. .. 1,932,993 1,914,510 Net earnings .............. _.. .... ....... $963,560 Rentals paid .....................................••.. $669,425 559,660 ----- Balance ........... . ... , .............. .. •. ...... .. .. .. $108,765 The yearly interest charge on the mortgage bonds is $530,000. The statistics from the annual report for 1883 were in 38, p. 594. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis v. Cent. Pay'ble Whom. Dividend. -----------------1-----6 5 8 8 8 7 6 5 g. 7 g. ··,;· J. & J. N. Y., 214 Broadway. F. &A. do do J. & J. do do A. & 0. do do F. &A. do do M.&N. do do J. & D. do do .T. & D. do do J. & j, Last paid July, 1875. J . .&.. J. A. & O. J. & J. T. & J. .A. & O. J. & D. F. & A. A. & O. J. & J. M. & N. M. & N. 7 Various 6 g. M. & N. F. & A. 7 M. & N. 6 Q.-M. 1¾ A. & O. 7 J. & D. 7 J. & J. 7 4 to G 6 6 4 to 6 6 g. 6 7 g. 7 g. 6 6 0 N. Y., CorbiJ:l. Bank'g Co do do do do do do do do do do do do Ap.'85 ¾caah& ½s crip. l&t pd. on Jan.'82,coup. New York Agency. do do .N. Y., Union Trust Co. Agency, N. Y. City. N. Y.,Farm. L. & T. Co. do do Boston, at Office. N. Y., Nat. Park Bank. N.Y., Hanover Nat. Bk. do do INCO:llE ACCOUNT. 1881 Receipts- Net earnings .........•·•...•...•... Disbursements- Jan. 1. 1898' Aug. 1, 1921 July 1, 1886 Oct. 1, 1890Feb. 1, 1886 Nov. 1, 1897 Dec. 1:, 1907 june l::>, 193'1 Jan. 1, 1905 Rentals pain .. ....... .•...•... • ... Interest on debt .................. . Miscellaneous ......•.......•...... Jan. 1, 1900 April 1, 1909 April 1, 1919 July 1, 1921 .April 1, 1909 J1,me 1, 1921 1903 July 1, 1906 July 1, 1906 1887 1903 July 1, 1 19 Nov. 1, 1912 Feb. 1, 1908 May 1, 1900 Dec. 1, 1885. Oct. 1, 1917 Dee., 1906 Jan. 1: t907 1882. $ 691,192 $ 253,276 196,119 30,306 888~653 $ 575,770 327;738 28,456 1883. $ 1,036,519 $ 569,164 433,375 20, 7 52 Total disbursements.......... 479,701 931,964 1,023,291 Balance .....•• •.................•. sur. 211,491 def . 43,311 sur. 13,228 -(V. 40, p. 151, 304, 363, 625; V. 4 l, p. 585.) .Indianapolis Decatur & Sprlngfield.-Owns from Decatur, ill., to Indianapolis, Ind .. 153 miles. This company is successor to the Indiana & ill. Cent. RR, sold in foreclosure April 26, 1875. In Dee., 1881, was leased to Ind. Bloom. & W. for 50 years, at 30 per cent of gross earnings, but with a guarantee of $200,000 per year. In March, 1885. this lease was relinqui~hP,d and Mr. H ammond, the P1·esident, was appointed receiver. The fl.rst•mortgage bondholders funded one-half of the coupons due Ap1·i11 and Oct. 1, 1885, in five years' scrip, the other half being paid in cash. Fureelosure is to be made under the 2d mort. and stock to be assessed $2 50 per share. (See plan in SUPPLEMENT of Oct., 1885, in editoria l article.) Common stock is $500,000. (V. 40, p. 92, 363, 424, 716, 763; v. 4.1, p. 133, 31)2.) Indiana Illinois & Iowa.-Completed and in operation from Streator. Ill., to N. Judson, Ind., 110 miles. Stock, $2,079,900. F . M. Drake, President, Centreville, Iowa. Indianapolis & St. Louls.-Owns from -Indianapolis to '.rerre Haute, lnd., 72 miles; leased line, St. L. Al. & T. H. and 1Jranches, 193 miles; total operated, 265 miles. The old lease of the St. Louis A. & T. H. was guaranteed by tlu·ee other compames, and suit has been pending as to the rental. The company was formerly controlled by the Pennsylvama and Cleveland Columbus Cin. & Ind. companies, who jointly owned the stock of $600,000. Interest had not bee:a paid on the second mortgage and equipment bonds since July, 1878, and on July 28, 1882, the road was sold in foreclos11re for $1,'396,000 (subject to 1st mort.) and bought for Clev. Col. Ciu. & Ind. Co. and a new company organized September, 1882, with J. H. Devereux &i President. .A new lease was made of the St Louis Alton & Terre Haute bf Which this company and the Cleveland ColLunbus Cincinnati & Indianapolis are jointly liable for the rent of $-!50,000 per year as a minimum. Of the first mortgage bonds series "A" are J. & J.; series " B," M. & S.; series "C," M. & N.; and the C. C. C. & I. RR. guarantees $750,000 of them. . There has been a large d eficit on the company's operations after deducting the rental. Net earniugs in 1884 were $189,904; rental paid, $450,000; interest on bonds, $169,977; miscellaneous, $87,650; total, $707,627; net loss to lessee, $517,723. The road is only incidentally of advauta~e to its owners as a route to St. Louis. Operations and earnings for five yel:lirS past were: Passenge1 Freight (ton) Gross Net Earnings. Earnings. Mileage. Miles. Mileage. Years. 1880 ........ . 266 15,285,443 148.947,237 $2,009,022 $608,413 2,048,651 187,670 1881. ....... . 266 19.479,278 196,029,304 2,086,776 df.111,608 188:L ...... . 266 21,008,318 202,985,772 2,131,621 172,419 1883 . ....... . 265 20,96 3,061 196,6:37,532 1,921,726 189,904 1884 .. .. . ... . 26'5 22,4.94,880 207,672,278 Indianapolis & Vincennes. -Owns from Indianapolis, Ind., to Vincennes, Ind., 117 miles. The Pennsylvania Company owns a controlling interest in the stoc-k and operates the road, advancing the deficiency to pay interest on the bonds. The capital stock is $1.402,000; the debt due to Pennsylvania Co. is $674,092. In 1880 the net earnings were $60,506; in 1881, $10,260; in 1882, $19,950; in 1883, deficit, $11,031; in 1834, deficit, f9,570. .Annual interest on debt, $206,000. Iow-a Falls & Sioux Oity-( See Map of Illinois Oentral).-Own1t from Iowa Falls, Ia., to Sioux City, Ia., 184 miles. This road was opened in 1870 and is leased to the Illinois Central for 20 years from Oct. 1, 1867, at a rental of 36 per cent of the gross earnings. The Illinois Central has an option of continuing the lease after 1887 at same rental. This company also receives a drawback of 10 per ct. on business to and: from their line over the Dub. & S. City RR., and receives rental for 26 miles of its road used bv the Sioux City & St. Paul Co. In the year ending March 31, 1885, the total rental was $268,381; receipts from sales of lands, $278.500; the total income was $623,214, and all expenses. including dividends, $531,57L>. Tile contingent fund invested is $1,400,000. Lands remaining unsold, 37,892 acres. Horace Williams, President, Clinton, Ia. I thaca Auburn & Western.-Owns from Freeville to .Auburn, N. Y., 38 miles. The New York & Oswego Midland RR., Western Extension, was sold in foreclosure, and thls comoany organized Sept. 20,. 1876. The stock is $975,800. On April 1, 1883, was leased to Southern Central of :New York for the term of its charter, at a rental of 331 3 per cent of gross earnings, with guarantee that rental shall equa! 4 per cent on first mortgage bonds. Foreclosure has been consented to by a maj ority of bondholders in order to change the form of bonds to conform to the terms of the lease. RAILROAD STOOKS AND BONDS. [VoL. XLI. Subscribers wUI conCer a great Cavor by giving lnunedlate notice oC any error discovered In these Tables. Bonds-PrinciINTEREST OR DIVIDENDS. DESCRIPTION. pal,When Due. Miles Date Size,or Amount Par Rate per When Where Payable, and by Stocks-Last For explanation of column headings, &c., see notes of of Dividend. Road. Bonda Value. Outstanding Cent. Paya.bl<:: Whom. on first page of tables. - - - - - -- - - .Jacksonville Southeast.-lat mor~gage ........ ....... General mortgage .................. _.......... . ..•. Jejfe1·son (Pa.)-lat & 2d morts. (Hawley Branch) .. 1st morttrage (Susquehanna to Carbondale) .. .. .. . Jeiersonville .Madison & Indianapolis-Stock . .... efl'., Mad. & Ind., 1st M . (a. f. $15,00iJ per year). do do 2d mort. ($100,000 in 1882) .. .Je1·sey Oily & Be1·gen-lat mortgage .. .. .... . ... . ... . Jol~t & Northe1·nindiana-lat mort., guarby M. C. Junc-tion ( Philadelphia) .-1st mort. {extend ed) .... 2d mortgage ......... .. ... .. ..................... .. . Kansas Oentml-1 t mort~fe (for $3,200 ,000) .... Kansas Oity Fm·t Scott & lf-Stock, common ..... Stock, pref~rred ............ . .........•..••..... .... 1st mortgage, land. grant, i>ink. fund ........ , .... Mortgage on branches, guaranteed ................ do do ...... .. ... . ...... .. .......... Equipment bonds (10 per cent retired annually) .. Kans. City Clinton & Spr., 1st mort., gold, guar .. l;'leasant Hill & De Soto, 1st mort., gold .... . ... Kansas Oit11 Springfield & Memphis-lat mort ...... Plain bonds (red'ble at will at 105 and int.), guar K entucky Cent1·al-Stock ... ... • .. . . . ..... ..•. ... .. ... Covington & Lexington,mortgage .... . ............ Maysville Division mortgage . . ....... ... ....... ... General mortgage .... . ............................ Keokulc &Des Mow.es-lat M., mt. guar. C.R. I. & P. --Kings Oo1mly Elevated .... ..•...... .. ••..•.. . .•...•. 54 112 9 38 224 159 159 6 44 3 ·6 3·6 168 389 389 159 202 26 ---- 151 44 282 ---- 250 80 50 2'20 162 ---- 1880 1882 1867 1869 i866 1870 1873 1877 1882 1865 1881 .... .... - - - - ---- $1,000 1,000 1,000 1,000 100 1,000 1,000 1,000 1,000 1,000 1,000 1 ,000 ...... 1879 1880 1882 1883 1884 1877 1883 1884 10·0&.c. · 1,000 1,000 1855 1~000 1878 1,000 100 &c. ---· ---· 1881 ---· 1:000 500 1,000 ...... ...... .... $300,000 879.000 300 00 2,000,000 2,000,000 2,660,000 2,000,000 275,000 800,000 425 ,000 300.000 1,3,18,000 4,618 ,0 00 2,750,000 2,300,000 2.732,000 390,000 607.000 2,400,000 120,000 7 ,000,000 /°10(1 ,000 5 ,599,500 220,000 400,000 6 ,379,000 2 ,7 n0,000 (1) 6 6 7 7 112 7 7 7 7 412 6 6 212 4 7 7 5 6 5 g. 7 g. 6 6 1 7 7 4 to 6 5 ..... .J. & .J, .J. & J . J. & .J. J. & .J. Q.-F. A. & O. .J. & .J. J . & J. J. & J. .J. & .J. A & 0. A.. & o. F. &A. F. & A. ,). &D. M.& S. F. &A. J. &D. N . Y., Am. Ex. Nat. Bk . do do Honesdale Nat. Bank. N. Y., by Erie Railroad. N. Y., Farm. L . & T. Co. ao cto do do Farm: r.: N. Y., & T. Co. Phila .• 233 So. 4th St do do Office, 195 Broadway. Boston . do Bost., Nat. Webster Bk. do do do do do do do do A.·& ·o. Boston, Everett Nat. Bk ~.&N. Boston, Nat. Union Bk. ---- M.&N. --· --·-··· Cincinnati. ,T. &D. New York, 23 Broad St. J. & .J. N. Y., Morton, B. & Co. J. & J. do do A . & 0. N. Y.,Farm. L. & T. Co. ...... ............ .July 1, 1910 ,July 1, 1912 1887 & 1 889 .Jan. 1, 1889 May, 1881 Oct. 1, 1906 .July 1, 1910 .Jan. 1, 1903 July 10, 1907 July 1, 1907 April 1, 1900 April 1, 1911 Feb. 15, 1885 Aug. L5, 1885 .July 1, 1908 Sept. 1, 1910 Aug. 1, 1922 Dec. l, 1893 1924 1907 l\fay 1, 1923 May 1, 1894 May, 1881 .June.1885 1906 .July 1, 1911 Oct. 1, 1923 ---·-·· · . Jacksonville Southeast ern.-Owns from Jacksonville to Centralia, Ia., 112 miles. This was the .Jacksonville Northwestern & South-eastern RR., projected from.Jacksonville to Mt. Vernon, 125 miles. Bonds were issued at $20,000 per mile, amountino- to $600,000. In 1879 the company was reorganized by the bondhol'a.ers under thi;; name. Stock $1,000,000. In year ending .June 30. 1884, gross earnings, $1 5 3 ,892; net, $49,409; interest paid, $22,779. W. S. Hook, Presid't, Jacks on-ville, Ill. . Jefrerson.-Owns from Susquehanna D epot, Pa., to Cnrbondale, Pa., 37 miles; branch, Hawley, Pa., to Honesdale, Pa., 8 miles; total, 45 miles. Leased in perpetuity to the Erie Railway for $140,000 per .annum, and now operated by the N. Y. Lake Erie & West. Capital stock, $2,096,050. Samuel Hines, President, Scranton, Pa. Jeff'ersonville lUadlson & Indlanapolls.-Owns from Louisville, Ky., to Indianapolis, Ind., 110 miles; branches-Madison, Incl., to Columbus, Ind., 46 miles; Columbus, Ind., to Shelbyville, Ind., 24 miles; .Jeff'ersonvilJe, Ind., to ew Albany, Ind., 6 miles; Shelby & Rush RR., 18 miles; Cambridge Extension, 20 miles; total operated, 224 miles. The road was leased to Pennsylvania Company from 1873, with a guarantee of interest on boncls and 7 per cent on stock. Lease was modified from .January 1, 1880, the lessees to pay over all the net earnings to the .T. M. & I. Co. In 1881 the Penn. Company purchased $1,939 ,000 of the stock. Dividends were at the rate of 7 per cent per a,n num till May, 1880, and reduced afterward. Operating expenses have increased largely since 1880. Earnings for four years past were as follows: Years. Miles Gross Earn. Net Earn. Div. p . c, 1881. ............... 186 $1,462,802 $365,043 3 1882.... ............ 201 1,545,198 356,807 1 883....... ... . . .. . . 204 1,426,893 356,783 1884.. ... ... . .. . .. .. 204. 1,304,111 292,004 Jersey City & Bergen.-Ownsfrom Jersey City to Ber12:cn Point., N . .J., 6 miles. In 188:1 gross earnings, $323,5 ll; net, $104,678; in 1 884, gross, $3::>6,834; net, $98,163. Stock, $250,000. Dividends 10 per cent in 18d4. C. B. Thurston, President, .Jersey City. Joliet & Northern Indiana.-Owns from .Joliet, Ill., to Lake Station, Ind., 45 miles. Operated as part of the Michigan Central main line. Road opened in 1854 and leased to the Mich. Cent. Aoove issue of bonds definitely guaranteed was gt-rnn as a compromise in pla e of old 8 per cent bonds. Stock ($300,000) carries dividends of 8 p er cent per annum. Junction (Philadelphla).- Owns from Belmont, Pa., to Gray's F erry, Pa., about 4 miles It connects the Peunsylvania, the Philadelphia & Reading and the Philadelphia Wilmington & Baltimore railroads, coming mto Philadelphia. Capital stock, $250,000. Net earnings in 188~, $123,919; in 1883, $130,73 1; in 18 4, $95.865. Large divid ends are paid according to r eceipts each year. In 1 884 paid 40 per cent, in 1885 paid 20 per cent. Kan,sas Centi·al . - Owns from Leavenworth to Miltonvale, 167 miles. Sold under foreclosure of fir t mortgage April 14, 1879. Reorganized April, 1879. Gross earnings in I 884, $283.267; deficit, $ 69,223; deficit over interest, taxes, &c, $111 .159. Stock, $1,348,000. Union P acific holds $1,813,400 af the stock and $1,162,000 bonds. Kansas City Fort Scott & Gul.C.-Mileage is as f ollows : Main line-Kansas City to Baxter Springs,-160 miles; branches-Weir -City to Cherry , alle. 50 miles; Arcadia to Coal Mines. 2 miles; Baxter Springs to Webb City, 22 miles; Rich Hill .Junot10n to Carbon Centre sud Rich Hill, '~8 mileR; Fort Scott .Junction to Springfleid, 100; Coalvale to Cherokee, 26. Total operated, Dec. 31, 1884, 389 miles . In October, 18 4, the Pleasant Hill & D e Soto road was purcllased oy the Kansas City Clmton & Spr ingfield, and the b onds assumed. '!'his company was organized April 1, 1879. as sur.cessor to the Missouri River Fort Scott & Gulf, which made defanlt Octcber 8, 1873, and was sold in foreclosure Fe!Jruary 4, 1879. Tl1e tfrst mortgage bondholders of the old road took 80 per cent in the new mortgage bondts, and for au other claim~ stocl, wa issueLL The bra ncllcs h ave been I.milt ma,iHly IJy tll!s co :npany and bonds are guarantcell. The Kansa City Clinton & Spl'in!,,rfitlld bonus arc guaranteed by Kans . -City Fort. Scott & Gulf. (See V. 3\J, p. 2·i4.l The annual report for 1884 was in V. 40, p. 623. The bonded d ebt was reduced duri ng the year by the purchase of $47,000 b onds from -cash received from the lanrt d eparmien t, leaving a total amou nt outstanding Jan. 1, 18 5, of Kansas City Fort Scott & Gulf Railroad -Co. 7 per cent bonds, $2,353,uO0, a debt of $14.713 per mile on tile main line. Thi,; aebt was fltill further red •1Ced by the r etirement of $53,000 more bo 1ds .June 1, 1 85. The n et amount to be r ealized from the la-ad assets still remainino- for the purcha!>e or bonds is e. tnnated at about :$250,000. 'l'lle bonded debt 01' the l eased lines (principal and int erest oo: which is gn,i,ranteed by this company) was increased durins the year 188'4 by about $340,000, as shown in the report. The followmg statement gives the earnings an rl the income account !or the four years, 1881, 188~. 1883 and 1 84, but d oes not include the 50 miles of narrowgauge road prior to the year 1883 (which during the year 1 882 wer e widened to standard gauge) . The income account, however, includes all Ines, the differ,mcesjn n et earnings as stated being- due to a deficit of -$9,000 in 1 08 l and a nroflt of $50,745 in 1882, on the nlUT-Ow-g ,mge .-oad. In 1 883 and 1884 all lines are included in operations. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1881. 365 $ Total g;rosa earnings .. 1,503,215 Miles operated ..•.. _... Rece'ipts- 1882. :.:89 1883. 389 $ $ 2,0lG,212 2,422,443 837,668 1,014,750 27,39 5 837.G68 1,042.145 $ 166,081 204, 123 76,212 102,66 1 475,576 5 663,901 25,966 750,319 15,051 Total income .• •. .. .. 689,867 Interest on bow'ls . .... . Leased lines interest .. K. C. S. & ~L proport'n. F. S. equip. bonds ..... Dividencts . .. ...... .... R ate £:1id on com .. .. . pref .... o Sinking fund .......... Miscellaneous ....... . . 200,059 125,536 765,370 $ 182,856 162,629 6,222 173,203 1 84,008 25,099 312,700 2 8 20,330 5,241 359,360 3 8 26,83.:> 2,758 359,364 3 8 24,360 1,421 $ ft; 1,703,199 Net earnings ......... . Intei-est, &c ........... Disbu1·sements- 1884. 389 ---- $ 8 21,176 384 ------ - - - - Total disbursements. 663,866 740,6 .55 767,450 1,046,213 Balance, surplus .. . . . . 26,001 · 2-t,715 70,218 def. 4 ,068 -(\' . J9, p. 2J4, 353,363; v. 40, p . 623; v. 41, p. 527.) Kansas City SJ;lringfield & 1'.lernpllis.-This organization embraces two corporations under the laws of Mi souri and of Arkansas to build a roa,l from Sprin,gfielrl, Mo., to Memphis, Tenn., 282 miles. Road finished October, 1 883 . The Kansas City Ft. Scott & Gulf will appropriate 15 per cent of gross earnings on business to or from the new road to pay interest on the bonds, or retire the principal at 110. Capital stock, $5.250.000. See first annual report in V. 40, p. 682. (V. 39, p. 71; V. 40, p . 304,363, 682.) Kentucky Central.-Owns from Covington, Ky., to Livingston, Ky., 148 miles; P aris to Lexington, 19 mill's; leases Paris, Ky., to 1\1ay-sville, Ky., 49 miles; Richmond to Stanford, 3 Jc miles; total upcrated, 250 miles. The extension from Paris to Living,;ton, Ky., about 70 mile!:'. was opened Sept.I, 1884. This was formerly the Coviugt,,n & Lex. RR., which was foreclosed in 1859. In 1875 the present company was formed, and tool, posse siou May 1, 1875. The Maysv. & L ex. RR. was taken Nov. 17, 1876. In .June, 1881, a majority of the stock was purchased by Mr. C. P. Huntington of the Chesapeake & Ohio road. This Co. l eased or the Louisv.& Nashv.RR. its Richmond branch for 99 yea.rs from .Jan 1, 1883, for $ 24,000 per annum, with a right to pnrchasc at any time for $.JO0 ,OuO. In Febn11ry, 1884. the company needing more money, the stock was assessed 10 per cent, and Lolders of $5,600,000 of the general mortg. a.greed to t ake 4 per cent for tln·ee years b eginning .July 1, 1 884, instead of 6. Of this the report of 1\1r. C. P. Huntington. President. in CHRONICLE, V. 3'3, p. 045, gave particulars. Under the arrangement, the fixed charges for the year wou ld be $303 .990, including interest and rentals For tPn months from Jan. 1 to Oct. 31. 1885 , gross earnings were $710,392. against $773,412 in 1884; net. $:32:3, 155, against $2'81 , 187. Receipts and disbursem ents have been as follows: INCOME .ACCOUNT. Receipts- . 1881. Total gross earnings .... $705,127 Operating expenses. .... 4.90,655 18 2. $724,363 415,090 1883. $1-142,0:-52 485,233 1884.. $922, 108 603,620 Net earnings ... ......... $214,472 $309,273 $356,819 $318,487 Rentals paid . . . . . . . . . . . . $28,000 Interest on debt......... 70,875 Taxes & miscellar..eous.. 41 ,617 l>ividends.. . . . . . . . . .. . . . 73,252 $28,000 130,630 ,20,412 $52,000 214,i'l63 39,731 $62,074 256,880 50,402 D isbm·sements- Totaldisbursements.$213,744 $179,042 $306,294 $369.3 56 Bala nce, snrplns . ........ $728 $1 :-l0,231 •~50,?)25 def. ~ 50,869 * '£he coupons due .Tan. 1, 1 88J, were $181,110. !111(\ dedncting- the surplus fer tne year 18 ➔ 3. $ .H l.523. tllere was an act u ril deticit of' :F1 30,585. -(V. 39, p . 9H. 181, 2o4, 522,606: V. 40, p. 61,362,427, 5 ,.10; V. 41, p. "l.3, lo l , 537, 653.) Keokuk & D es lliolnes. -Owus from KAokuk, fa,., to DA Moine", Ia., 162 miles. 'l'his was a reorganization, .Jan. 1, 1874, of the D es Moines Valley Eastern Div., sold in foreclosure October 17, 1873. Tile property was leased for 45 years from Oct. 1, 1878, to the Chicago Rock Island & Pac. RR. on tile terms following : that the lessee pay 25 per cent of the gross earnings to this company, but ~ua,rantee the interest (not, 1,l>A principal) on thP ore1ent bonds. The stock is $ 1,524,600 of 8 p er ceu~ preferred and $2,ti00,400 of common, a majority of which is held by the lessee. In the year 1883-84 g-rosi, earnin_g s were $49 4,881, and rental, at 25 per cent, $123,720, leavmg $13,780 deticit on the interest charge paid by les'>ee. A dividend of 1~ per cent on preferrAn Rtoolc was paid D ecPmhel', 1881. Kings County Elevated.-Line of r oad on Fulton Street, Brook l yn . Lackaw-anna & Pittsburg.-A consolidation in April, 1883. of the Allegany Central and the Lr.ckawanna & Pittsburg. Road oper a,t ed Jan., 1884, from Lackawanna .Junction, New York t-0, Perkinsville, 41 miles ; Swain's t o Nunda, I 2 miles. and Olean to Angelica, 39 miles. The last-named line is 3 ft. gauge and the others standard gauge, also operates under trackage contra.0t !ram Lackawa.nna .Junction to New- DECEMBER, RAILROAD STOOKS AND BONDS. 1885.] 49 Subscribers "IVtll conCer a great favor by giving hn:rnedlate notice of' any error discovered In these Tables. INTEREST OR DIVIDENDS. !Bond.s-Prmc► DESCRIPTION. Miles Date [ Size, or Due. Amount Rate per When Where Payable, and by pal,WJrnn of Par Outstanding For explanation of column headings, &c., see notes of Stocks-Last Road. Bonda Value. on ftrat page of tables. Cent. Payable Whom. Di vidcnd. - - --- Lackawanna & Pittsburg-Mortg. (for $2,000,000) Income bonds . ....... .. ............................. Allegan<L Cent., lat mortgage, gold ................ o 2d mortgage, gold ............... do Income mort., not cumulati. ... Lake Erie & Western-Stock .............. .......... lat mortgage, gold ... .. ... ......................... Income bonds convertible (not cumulative) .••... Sandusky Extension, 1st mortga~i.° ............... do do income bon s ............... Lafayette Bloom. & Muncie, 1st mort., gold ...... do do income M. con. (non-cumul.) ---· 1883 ·s2 1881 62 386 165 ""ii 21 200 200 Lake Shor~& Michigan Southern-Stock .......... .. 1,3-10 Guaranteed 10 per cent stock ............. . ....... Consol. 1st mort., (sink. fund, 1 per cent) coupon . 864 do do do registered 864 Consol. 2d mort., do. (for $25,000,000) coup.& reg. 864 L11,ke Shore dividend bonds ... ......... . ........... 258 95 3d mortgage (0., P. & A. RR.) registered bonds .. 2d mortgage (C. & Tol. RR.) ..................... . 162 Buffalo & State line. mortgage bonils .............. 88 Buffalo & Erie, mortgage bonds .. •................ 88 62 Det. Monroe & 'l'o_l., la~ mort., coup., 'E::ar . ....... Kalamazoo & White ~1geon, 1st mor gage ....... ~7 12 Schoolcraft & Three Rivers. 1st mortgage ........ Kalamazoo & Schoolcraft, 1st mortgage .......... 13 Kalamazoo Allegan & Gr. Rapids, 1st mortgage ... 58 1882 1882 i879 1879 1880 1880 1879 1879 ---· ia10 1870 1873 1869 1867 1866 1866 1868 1876 1869 1867 1867 1868 1:000 500.&c. ---- 1,000 1,000 1,000 1,000 1,000. 1,000 100 100 1,000 1,000 1,000 1,000 1,000 1,000 1 ,000 500 &c. 1,000 1,000 1,000 1,000 1,000 Castle, 207 miles. Stock $5,000,000, of which $1,_500,000 is preferred. The A. C. 1st mon. bonds are red~emable any time at 1:05. In 1884 Company became embarrassed and m _Dec., 1 ~84, a r ecer~e r was appomted. Earnmgs m 1883-84, $117,8 ,5; defl.mt, $37,980; mterest and rentals, f!,109, i-<44; }1,tal ~efic1t. $197,8 25. Geo. D. C~apman, Pre ident and receiver, New 1' ork City. (V. 39, p. 681; V. 40, p. 684; V. 41, p . 556.) Lake Erie & Western.-Owns from Sandusky to Fremont, 22 milea; Fremont to Celina,, 99 miles; branch to Minster, 10 miles; Celina to Muncie, 54 miles; oiuncie to Illinois State line, 120 miles; Illinois State lino to Bloomington, 81 miles; total operated, 386 miles. This was a consolidation, Dec. '1.2, 1879, of the Lafayette Bloomin~ton & Muncie and the Lake Erie & Western. The line embraces the rormer Lafayette Bloomington & Mississippi road and the Lake Erie & Louisville. There are also $165 ,000 in car trust certificates outstanding. The earnino-s of the road during the past three years have shown a conaiderable delcit, which was owing partly to failure of the crops and low freight rates. but in 1883-84 a large decrease in o perating expenses was made, thus incren.,-iug net earnings and reducing the deficit. On .April 2o, 1885, t he vice-president, J. H. Cheney, was appointed re.ceiver, and the May interest on the bonds was not paid. In June a sale of the road was ord ... r ect to satisfy judgments for $330,000, and the directors r eques •e il stockholders to pay an assessment ot 7 per cent on the par value of thefr stock; in August the sahi was postponed indefl.nately, and no a;; essmen t was paid. Foreclosure suits on both the first mortgages were begun in Sept., 1 85. The fiscal year or this company terminate.a June 30. For the yen.r 1883-84 the report was iu the VHRONICLE, V. 39, p. 492. Hl8 U-8 l. 1881-82. 1882-83. 1883-84. Earnings- $ $ $ Passenger .......... . Freight .. ........... . Mail, express, &c .. . 323,474 916,969 176,423 332,608 936,008 155,397 Total gross earn .. 1,416,866 1,424,013 Mamt. of way, &c . . Maint. of equlpm'nt. Transportation exp. Taxes .. ...... .. .. . . . . General. ....... . ..... Construct'n & equip. 319.791 103,331 52 • ,3 43 36, \. 34 67,535 45,269 2 \l l,864 133,436 549,3!7 48,365 64,525 66,543 380,591 154,08 9 651,993 56~876 7i~,4B5 115,i!90 Total.. ............ 1,094,203 322,663 317,218 1,154,080 269,933 312,255 1,429,524 73,999 310,653 Operating ex11enses- Net earnings ........ Interest on debt .... ----- 348,532 1,023,032 131,959 ---1,503,523 I A. &O. Last paid April, 1884 1884 J. .&.. J. Last Last paid Oct., 1884 ··-· Jan'ary ............. pal<i.Juiy, :!!' • •&..A. i~iu~t M."&..N. Yearly. Q.-F. F. & .A. J. & J. Q.-J. J. & D. A. & 0 . A.. & o. A. & 0. M.& s. A. & O. F. &A. J. & J. J. & J. J. & J. J. & .J. April 1, 1923 April 1, 1923 J an. 1, 1922 Jan... i;°i9U Last paici":ii~b.", 1885 Aug:·i5:·fa19 Aug.15, 1899 ·--------Last paid Feb., 1885 Aug. 1, 1919 Aug. 1, 1920 Last paia_-:&--ov:, 188! May 1, 1919 May 1, 1 89:> N.Y.,Grand Cent.Office. Nov. 1, 1884 Aug. 1, 188~ _ do do July 1, 1900 July 1, 1900 Dec. 1, 1903 April 1, 1899 Coupons ar-e pa.id by Oct. 1, 1892 Treasur'r at Gr'nd April 1, 1886 Central Depot, N. Y., and registe red Sept. 1, 1886 April 1, 1898 interest by Union Aug. 1, 1906 Trust Company. J,"an. 1, 1890 .July 1, 1887 July 1, 1887 .July 1, 188i I OPERATIQNS, FINANCES. &c.-Tbe annual reports of this company are models or clearness in all tbe statistical matter. Tb.e roa,l is greatly depen dent on through traffic, or traffic from competitive points, and its :.msine;;s is therefore injured by any cutting of rates on tl'Unk line freights. Ln 1882, 140,500 shares preferred stock and 12!,800 shares of common. sto~k of the New York Chicago & St. Louis R ailroad (a controllmg mterest) were purchased and $6,500,0UO of Lake S. & Mich. ~- 2d consol. mortgage bonds issued to pay for it, making: an additional mterest ch~rge of $456,890 per annum. But tb.is purchase placed tha Lake Shore ma new position, controlling two line<i from Buffalo t:i, Chioago and leaving only the Gr. •. rrunk of Can. not unde1· V ,m lerbilt co ntrol. For the nine months ending Sept. 30, 1885, the statement in V. 41, p. 612, gave the following: .Jan. 1 to June 30. 1885. 18:i4. Gross ~arninga . .............................. $10,16Z,564 $10,963,668 Operatmg expenses. ........................ 6,595,9 06 6,452,572 -- -----Net earnings............................. $3,566,658 $1,511,096 Deduct3,196,82 6 Inter est, taxes and rentals........ ........ .. 3,2 59,359 Surplus................................... $307.299 $1,314,270 In 1884, in addition to net earnings, $26,954 was r eceived from o ther sources, making the total net for the nine months $!,58 1,387. Dividends of $1,731,327 were paid, making a total d eduction from net earnings of $4,900,192, leaving a deficit of $317,057. The annual report for 1884 was published in V. 40, p. 566, containin,!Z the tables below, showing the earnings and income account for a series $ 308,033 of years: OPERATIONS AND FISC.A.L RESOLTS. 815,037 188 -1. 1881. 1882. 1883 , 141,124 1,340 1,177 1,340 1,340 Miles operated . .... . Ope1·ations1,264,194 Paas'gers carried.... 3 .tB2 ,006 4,118,832 3,909,3'>6 3.629,19-6 228,762 Pasa'ger mileage . ... 207.953,215 227,098,958 215.715,155 190,503 852 l '988 cts. 2·157 eta. 2·196 cts. 2·170 ct&.• 127,725 Rate p . pass. p. mile 9,16!,50B 9,195,538 8,478.603 7,365,688 495,567 Fr'ght (tons; moved. 56,4.64 Fr'ght (t'ns) mileage * 2,021,755 * l,892,8ti8 * 1,6 39,512 * 1,410,54.5 0·6 L7 cts. 0·628 eta. 0 ·728 cts. 0·652 eta. 56,731 A.v. rate p. ton p. m. E~nfu~$ $ $ $ 39,180 Passenger........... 4,134,789 4,897,185 4,736,088 4,133,729 - - - - Freight .........••... 12,659,987 12,0i2,5'i'.7 12,480,09-ic 9,358,817 1,004,429 1,305,877 1,297,474 1,351,038 259,765 Mail, exp ., rents, &c. - 1,176,615 ---- ----- ----*3 ~3,322 Total .~ oss earnings 17,971,391 18,225,639 18,513,656 14,84.3,584 ---- - - - - ------ -42,3:.!2 - - def. -sur.-5,445 - - def. 236,654 def. 123,557 Balance..... .... ... * Includes income bond inter est. -{V. 39, p. 210, 264, 492: V. 40, p. 92, 182, 363, 424, 542, 625, 684, 741; V. 41, p . oO, 215,273, 330, 35G, 445, 473.l Lake Sl1.ore & Diichlgan Soutllern.-(See Map .)-LINE OF ROAD-Bu:tt"alo, N. Y., to Chicago, Ill., 540 miles; branches owned, 324m. Other lines ovm.ed as foilows: D etr. Mon. & Tol., 62 miles; Kalamazoo & White Pi~eon, 37miles; Northern Central(Mich.), 6!l miles; total, 160 miles. R,1aos leased are as follows: Kalamazoo Allegan & Gr. Rapids, 58 miles; J a.mestown & Franklin, 51 miles; Mahoning Coal .R., 43 mi.lea. Detroit Hills. & Southwest., 65 miles; Fort Wayne & Jackson, 98 miles; total, 315 miles. Total ron.d owned. leased and operated, 1,340 miles. ORGANIZATION, &c.-Thls company was a consolidation of the Lake Shore RR. ancl Michigan Southern & North. Indiana RR. May 27, 1869, and tllu Bu.tfalo & Erie RR. August 16, 1869. The consolidated line embraces the former roadR of the Cleveland & Toledo and the Cleveland Painesville & Ashtabula raih·oads. The stocks of some of the railrnads which entered into the consolidation forming the Lake Snore & :Michigan Southern road had oe!:'n largely increased by stock distributions, a.nd on the lines hetween Bu.tfalo and Toledo the profits had been so large that the capital of sf\veral of the companies had been r epeatedly watered. The consolidated line (including Detroit Monroe & Toledo) then embraced 927 miles, with $04,938,000 stock and $2'l,283,0tl0 funded d ebt. The roads l ascd at tixed n,ntals are tho Kal. Alle~an & Grd.nd RapjdR, Jamestown & Franklin and Mahoning Coal. Th'3 D etroit Monroe& Tol. Kalamazoo & ·white Pigeon, and the ~ orthern Centl'al of Michigan, are proprietary roads controlled by ow .iorshlp of their stock. The N ew York Chicago & St. Louis road is ,;lmilarly controlled by the purchase made in 1882. Tlle Chicago & Canada Southern is also operat ed by the Lake Shore & Michigan South. STuCKS AND BON os.-Tlte guaranteed iitock of $533,500 caITiea 10 per cent qividonda. The ordinary stock bas paid the followin g dividends since 1870, viz.: .In 1871, 8; in 1872, 8; in 1873, 4; in 1874, 314: in 1875, 2; in 18 76 . 314; in 1877, 2; in 1878, 4; in 1879, 6¼; in 1880 1881, 1882 and 188:!, 8 p er cen t each year; in 18 -,-i, 7 . The range in prices of stock since 1870 baa been: In 1871, 85¼~11614; 1872, 83 ~W U814 ; i 873, 5714a>97!4; 1874, 67 7s1D845s; 1875, 51141il AOlg; 1 876, 48341il (i 8l'ig; 1877. 45-m733s; 1878, f>7sl-i)7J~: 18 79, 671il 108; 188 0, 95 a,l J 95s: 1881, 112::SS @l:.15 ~ ; 1882, 1)8 m1201s: in 1883, 92~·cH14 7s; in J 884, 59¼@ 10134; in 1 ".' 85, t-0 D l3LI. 1 ~. 50:\iw89 7s. The first conso'idat,d mortga.ire bonds are redeemed each year b :v $250,000 contributed to the sbikincr fund. The above bonds of all cla ses outstanding are givem. le:'!s tile amounts held in the sinking funa.s, which am-0unted to $3,250,1JOO D ec. 31, 18i:i3. • https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $1,6-12,000 6 1,000,000 6 2l:19,000 6 g. 59,000 ~ g. 36,000 7,720,000 ..(fg. 1,815,000 1,485 000 7 327,000 6 580,000 7 2,500,0CC 6 g. 1,000,000 7 49,466,500 1¼ 533,500 5 } l-!,141,000 { 77 24,692,000 7 1,356,000 7 920,000 7 849,000 7 300,000 7 2,784,000 7 924,000 7 400,000 7 100,000 8 100,000 8 840,000 8 $ .... ------- Operating Expenses- Mamt'ce of way, &c, Maint. of equipment. Transport'nexp'nses Taxes . ............... Mi::1cellaneous t.. .. . . $ 2,182,510 1,596,537 6,275, 36 1 472,566 7 51,4:5 4 $ 2,323,789 1,552,805 5,968,350 50"3,852 709,011 $ 2,09."i ,492 990,1)07 e,592,742 530.2 36 792,476 ----- ---- - ----- $ 1,532,252 1,111,329 5,:~80,166 5U,54.3 5 33,2.3 1 Total. ... . . . . . . . . 11, '278,428 11,057,807 11,001,853 9 1 )3 ,521 Net earnings ........ 6,692,$163 7,167,832 7, =H l, 803 5ltl0.06.3 P.c.nfop.ex.to ear'gs 62·76 60·67 59 ·43 61·53 * Thee ciphers omitted. t Includes clama.2;e and loss ot freight and baggage, p ersonal injurias, law expenses, rents payable and hire of cars. INCOME ACCOUNT. 1881. 1882. 18'33. 1884. Receipts$ $ $ $ Ne t earnin~s. .... ... 6,692,963 7,167,832 7.511,803 5,710,063 Interest, divid's, &c. 238,675 98,392 158 ,540 ----G,710,063 7,670,343 7,266,224 6,g31,638 Total income . ... Disbursernents446,41"10 471,876 357,087 273,925 Rentals paid ......•. 3,220,870 3,132,120 2,714,955 2,612,230 lntei·est on debt ...•. 53,35.0 53,350 53, 3 50 53,330 Dividends, guai- ..... 2,473,325 3,957,320 3,957,320 3,957,320 Dividend s, ordinary. 5 8 8 8 Rate of dividend .... 674,949 New carR & engines*. 199,597 Miscellaneous ...... . ---- ----- Total disbursem'ts 7,771,371 7,082,712 7,614,666 6,193,995 Balance . ...... .. .... Def. 839,733 sur.183,512 sur 55,677 def.t483,932 * In 1882 this item amounted to $1,019,000, but was charged to general account. GENBRAL BALANCE AT CLOSE OF EACH FISCAL YEAR, 1 884. 1 881. 1882. 1883. A..ssets- $ $ $ $ Railr'cl, build'gs, &c. 69,81 8,600 69,848,600 70,0-18,600 70,04'3,600 Eriuipmeot . ....... . 16,1 50.000 17,169,000 17,300,000 17,300,000 365,780 305,798 365,780 365,7 0 l{'l est. & office prop. 7V>,OOO 660.000 660,000 715,00 0 Ch.& Cau.So.bda.,&c. 12,012,839 1,907,386 8,70J,428 9,414,477 Stocks owned, cost .. 933,080 2,115,180 2,127,180 1,554,030 B onda ewned, cost .. 1,454,942 1,409,578 1,~91,956 1,421,342 Advances .. ......... . 966,'Hl 1,166,890 1,355,153 1,221,178 I Materials, fuel, &c .. . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis rn 1-3 0 a ~ rn MAP OF THE LAKE SHORE &, MICHIGAN SOUTHERN R. W. AND CONl'-!E:_CT!O N S _ _ .. ... , -~""--- _----~ - - ~ - ,. DECEMBER, RAILROAD STOOKS AND BONDS. 1885.] Subscribers will confer a great favor by giving lnune,Uate notice of any error discovered In these Table, DESCRIPTION. . . INTEREST OR DIVIDENDS. Bonas-PrinoiMilefl Date Size, or Amount pal,When DuP. For explanation of column headings, &c., see notes of of Par Outstanding Rate per When Where Payable, and by Sto~~-Last on first page of tables. "Road. Bonds Value. Cent. Payable Whom. Dividend. --- Lake Shore cf: Michigan Southe1·n-(Oontinued)- Kal . .Allegan & Gr. Rapids, stock, 6 p. c. guar. _.. Jamestown & Franklin, 1st mortgage ............. Jamestown & Franklln, 2d mortgage ............. Lawrence-Stock. . . . . . . . . . . . . . . . . . . . . . .............. . 1st mortgage ..•... _................. . .............. Lehigh cf: Hitdson Rfrer-lst mortgage, gold ........ . Warwick Valley, 1st mortgage .......... _...... _.. do 2d mortgaie .. ......... -......... Lehigh cf: Lac/cawanna-lst & d mortgages ..... .• . Lehigh Valley-Stock ($106,300 is pref.) .. .......... 1st mortgage, coupon and registered .. ........... . 2d mortgage, re~istered . .......................•. . Consol. mort., go d, $ & £ (s. fd. 2 p.c. y'lyl cp.& reg-. Easton & Amboy, 1st mort., guar.(for $6,00C,000) Delano Land Company bonds, endorsed .. _....... Little Miami,- -Stock, common ..... _.. __ ._ .. __ .. __ ... . Street con. 1st M. bds (jointlywithCin.& Ind.RR.) Renewal mortgage._ ... __ .. __ ... __ ... _. . _... __ ... __ Little Rocle & Fort Smith-Stock . _... __ .. _. .. . _. _.... 1st mort., land grant sink. fund._ ............ _. ... Fu.ndin~ coupon scrip .... . .... _.......... . __ ... ___ . Little Roe c Miss. River & .7'exas-lst mortgage ...... 2d mortga~e. _.... _.. __ . _................ _.... _. _... Little Schiiyl cill-Stock. _... __ .. __ .. __ ..... __ .. __ . . .. Long Island-Stock ........................•.. . ...... 1st mortgage, extension ..... __ ... _...... _....... _.. J!\:O~~g;fe~·-~~~~-: ::: :: : ::: :: : : :: : :::~: :::: :: :::: 1881. Oasn on hand ....... . Uncollected earnings $ 724,669 994,797 1882. $ 534,275 604,312 ··-· 51 51 22 17 41 22 22 25 323 101 101 232 60 .... . 196 __ .,._ 84 168 165 - - ---· .... 1863 1869 ..... 1865 1881 1879 1381 1877 i868 1870 1873 1880 1872 --·· 1864 1882 i875 ---170 i876 1881 "ii --· · 354 ---1860 ·--- 95 156 1883. ii 317,3'.!0 582,545 1868 1878 $ .... 1,000 1,000 50 1,0 00 $610,000 3 335,000 7 500,000 7 · 500,000 2 307,3!0 7 fl 800,000 145,000 6 .... 240,000 6 600,000 7 1:000 1 50 33,098,350 1,000 5,000,000 6 1,000 6,000,000 7 1,000 13,686,000 6 1,000 4,500,000 5 1,395,000 1,000 7 2 50 4,837,300 1,000 ~50,000 6 1,000 1,500,000 5 4,505,308 10 stock. 2,375,500 500&c. 7 634,725 7 1,871,500 500&c. 7 1,000 1,106,000 7 50 2,487,850 312 50 10,000,000 1 500 175,000 7 1,121,500 7 500 100 &c. 268,706 7 ---- 1884. $ 218,682 1,24 9,858 - - - - - ------ --------- - - - - - A. & 0. J. & J. J. & D. Q,-J. F. & A. J. & J . A, &O. A. & O. .T. & D. Q.-J. J. & D. M. & S. J. &D. M. &N. J. & J . Q.-M. Various M.& N. .&.. Oct. 1, 1885 } See preceding page. { Var.toJ'ly,'97 Oct. 1, 1894. Pittsburg Office. Oct. , 1885 N. Y., Winslow, L. & Co. .Aug., 1895 Last paid Jan. , 1885. July 1, 1911 1899 ····-····.. ......... 1911 Philadelphia. Dec.1.1907 Philadelphia, Office. Jan . 15,1886 Re\ at office; cp.B'kN..A June,1898 P iladelphia, Office. Sept., 1910 do do 1898 & 1923 do do 1920 do Jan., 1892 do r.incinnati. Dec. 10, 1885 Cinn., Lafayette Bank. 1894 N. Y., Bank of America. Nov. 2, 1912 Boston, Treasurer. ~ July 18, 1881 N.Y.,Wm.C.Sheldon&Co Jan. 1, 1905 J. r. J. & J. .r. & J. Last P8l<Uaii·.: 1882. A. & 0. Last paid A111·il, 1 882. ,J. & J. Philadel,Phia Office. Q.-F. N.Y.,Corbm Bank'g Co. M. & N. do do M.&N. do do F. & A. do do Dividends* ... ..................... Charged for accum. depreciations 0 1881-82. $ 2,350,516 554,349 Jan. 1, 1906 1911 .July 15, 1885 Nov. 2, 1885 Aug., 1890 May, 1898 Aug. 1, 1918 1882-83. $ 2,210,378 347,944 1883-84. $ 2,372,242 __ ... _.. ------- ----- ----- Total disbur/ilements .. _.. .. . .. . 5,300,089 5,011,917 4,902,804 Total assets ..... 95,282,898 102,761,684 102,940,272 105,26/'i,092 Balance, surplu s ...... ........ ··-· 105,54.6 122,599 37,474 $ $ $ $ L i ahilities*In 1882, 10 on prere.rred and 612 on common; in 1883, l O on preStock ............... . 50,000,000 50,000,000 50,000,000 50,000,000 ferred and B on common; in 188.i, 10 on preferred and 8 on common. Bds, (see SUPPLEM'T) 38,439.000 44,716,001> 44,466,000 47,7lti,OOO -(V. 39, p. 370; V. 40 p. 121, 303.) 1,016,005 1,016,00fi 1,016,005 26,675 Dividends .......... . 1,115,402 2,133,677 2,506,589 2,975,161 Other liabilities .. .. . Little llilaml.-Owns from Cincinnati, Ohio, to Springfield, Ohio 4,712,491 4,896,002 4 ,951,678 4,547,256 84 miles; branch, Xenia, Ohio, to Dayton, Ohio, 16 miles; IeaRed, Profit and loss .•.. -• Columbus & Xenia Railroad, Xenia to Columbus, Ohio, 55 mHes; Dayton & West.Arn Railroad, Dayton, 0 .. to Indiana State Line, 37 miles; Total liabilities._ 95,282,898 l 02,761,684 102,940,272 105,265,092 Ohio State Line to Richmond, Ind. , 4 miles; total-operated, 196 miles. ·rhe (V. 39, p. 47,202, 203, 235, 553, 593,606,721,733; V. 40, p, 30'1, Little Miami Railroad proper extends from Cincinnati to Springfleltt, but the portion between Xenia and Springfield is now operated as a branch ; 337,338, l:363, 566, 625, 626; v. 41, p. 23, 242, 330, 612, 720.) for the remainder of the main line, as given above, the Col. & Xenia road, Columbus to Xenia, is used. On Jan. 1, 1865, they leased the DayLa-wrence.-Owns from Lawrence Junction, Pa., to Youngstown, 0. , 18 miles; branch from Canfield Junction to Coal Fields, 0., 4 miles; total ton & W~st. (Dayton to Ind. State line) and the Rich. & Miami (State line to Richmond), and on Feb. 4, 1865, purchased the road from Xenia to operated, 22 miles. The LawrencE' Railroad was leased June 27, 1869, to Pittsburg Fort Wayne & Chicago RR. at 40 per cent on gross earnings, Dayton; these three roads go to form the branch of 57 miles given above. rhe partnership agreement was dissolved Nov. 30, 1868, and a with $45,000 per year guaranteed as a minimum. Lease has been transferred to Pennsylvania Co., by-which the road is now operated. Gross contract made by which the Col. & Xe.ma road, including its interest in the above-named branches, was leased to the Little Miaml for 99 years. earnings in 1884, $204,109; rental, $81,644; gross in 18133, $257,109; On December 1 , 1869, the Little Miami, with all its branches, &o . .net, $135,391; rental and interest, $102,843. was leased to the Pittsbur~ Cincinnati & St. Louis Railroad ComLehigh & Hudson Klver.-This road was opened from Grey- pany for 99 y ears, renewab1e forever. The Pennsylvania Railroad .count, on Erie road, to Belvidere, N. J., 63 miles, August, 1882. Con- Company is a p arty to the contract and guarantees its faithful execution • -solidation April, 1882. of the Lehigh & Hudson River imd the Warwick Road is now operated by Pittsburg Cin. & St. Louis Railway Co. Lease Valley roads. In addition to above there are $65,000 Wayawanda 6 per rental is 8 per cent on $4,837,300, interest on debt and $5 000 per cent bonds due 1900 and $53,vOO Lehigh & Hudson River 2d 6s, annum for Little Miami Company's expenses of organization; the fulfildue 1909. Stock, $1,340,000. Coupons due July, 1885, not paid, and ment of thP, lessor's lease obligation is also stipulated. In 1884 the 'bondholders asked to fund four ccupons July, 1885, to Jan., 188 7, in- gross earnings were $1,569,900; net, $206,114; lease rental, &o., ot clusive. In Dec., 1885, a traffic contract was made with Lehigh Coal & lessee, $688,819; loss to lessee, $'177,705, against $405,780 in 1883. Nav. Co. In 1883-84 gross earnings, $162,795; net, $74,242- ;interest Little Kock & Fort Srnlth.-Owns from Little Rock, Ark., to ,on bonds, $81,802. In 18t2-83 gross earnings $163,780, net, $67,331. Fort Smith, 165 miles; branches, 3 miles; total, 168. In Dec., 1874, Grinnell Burt, Pres., Warwick, N. Y. (V. 41, p. 102, 720.) the property (then 100 miles), including the land grant, was sold in foreclosure. This company afterwards built 65 miles, and opened the Lehigh & Lacka-wanna.-Owns from Bethlehem, Pa., to Ban- road to Fort Smith July 1, 1876. Six coupons of July, 1876, and after gor, Pa., 32 miles. This road was opened in 1867. It is leased were funded int o 7 per cent notes. In June, 1883, bondholders funded to the Lehigh Coal & Nav: Co., and operated by Central RR. of New into 10 year scrip the coupons falling due July, 1883, and January, Jersey. Of the above bonds, $100,000 are a 1st mort., and $500,000 2d 1884-. Payment of coupons in cash resumed July, 1884. mort. Capital stock, $375,100. Gross earnings in 1883, $63,8 39; net, The lands unsold Jan. 1, 1885, amounted to 635,393 acres and land $19,315. Gross earnings in 1884, ;t:69,546; net. $15,252. notes, $503,586; in 1884, 28,094 acres were sold for $99,000. In 1884 gross earnings were $589,071 ; net, $245,582. Interest on bonds, taxes, Lehigh Valley.-Owns from Phillipsburg (Pa. Lin.e), N. J., t() Wilkesbarre, Pa., 104 miles; branches-Penn Haven to Audenried, &c., in 1884-, $225,025; balance, surplus, $20,557. Ip. 1883 gross earnings were $573 ,490; net, $238,290. Annual report m V. 40, p. 62. J, 18 miles; Hazle Creek Bridge to Tomhicken (and branches), 32 miles; Lumber Yard to Milnesville (and branches), 18 miles; Black Creek Junc- H. Converse, President, Boston. (V. 39, p. 181: V. 40, p. 337, 624; V. 41, p. 307, 445.) tion to Mt. Carmel (and branches), 61 miles; Slatedale branch, 4 miles; Be&r Creek Junction to Bear Creek, 11 miles; Lackawanna Junction to Little Kock ltllsslsslppl River & Texas.-Owns from Littl Wilkesbarre, 10 miles; State Line & Sull. RR., Monroeton to Berwick, Rock to Arkansas City, 113 miles; Tripps to Warren, 53 miles; Rob "24 miles; also owns the Easton & Amboy RR., Amboy, N. J., to Pennsyl- 1:<.oy Junction t o Micawber, 4 miles; total, 170 miles. This comvania Line, 60 miles; total operated, 346 miles. pany was a reorganization of the Little Rock Pine Bluff & New Orleans This is one of the most important of the coal roads, and was able t o Railroad and the Mississippi OuacLita & Red River Railroad. Both maintain moderate dividends in the years of depre sion 1876-79, when those. companies received land grants and State aid bonds, and this comother companies suspended. Dividends on the ordinary stock have been pany is involved with others as defendant in the suits by ArlrnnsasState as follows since 1870: In 1871, 1872. 1873, 1874 and 1875, 10 per r.en1 bondholders. The coupons due .Jan. l, 1S83, were not paid, and scrip plllaid; in 1876, 9; in 1877, 5 ¼; in 1878, 1879 and 1880, 4; in 1881, 5½: was offered to bondholders for two years' interest to be funded. By 1882, 6½; m 1883 and 1884, 8 per cent. Prices of the commou stock a circular of the President issued in June, 1885, a new reorganization In Philadelphia since 1S77were as follows: In 1878, 3234,1i)42 14; in was prnpose<l as per terms rrentioned in V. 41, p. 23. Foreclosure suits l.879, 33½'@55; in 1880, 46'@5734; in 1881, 5712@6414; in 1882. 58 14-a were begun in Nov .. 1885. In 1883 gross earnings were $416,582; net, -67~; in 1883, 63a,7314; in 1884, 57'@7170 ; in 1885 to Dec.18, 5!12 11,6114 . :j;9S, 177. In 1884 gross, $368,271; net, $25,523. The stock is $3,594,The fiscal year ends November 30. The last annual report was in th! 600. Elisha Atkins, President, Boston, Mass. (V. 41, p. 23, 585.) CHRONICLE, V. 40, p. 303. It is one of the peculiarities of the company'f Little Scll.uylklll.-Owns from port Clinton to Tamanend, 28 annual report that no general balance sheet is given. The earnings expenses and income aceount for the fl.seal years ending Nov. 30, were: miles; branche , 3 miles; total operated, 31 miles. The East Maha1881-82. 1882-83. 1883-84. noy RR., wasleasedJan.12, 1863, for 09 years, and sub-leased to Phila. & Readin9 . .July 7, 1868. The Little Schuykill Railroad is leased to the Earnings$ $ $ Philadelpnia & Reading R.ailroad for 93 years from .July 7, 1868, at a 7 7 0 fixed annual rental. i~ Passenger, ma,il, express, &c. _.... 732,304 830,949 889,49t Long Island.-:--Owns . from Long I~land City, N. Y., to Greenport, N. Y., 95 miles; brauches, 87 miles; total owned, 182 miles. Total gross earnings ............. 10,160,069 10,'2·18,150 8,9 4 s:l, 20"; Leased-Smithtown & Pt. Jefferson RR,, 19·0 miles; Stewart RR. to Both.Operating expenses .••........... _ 5,833,677 6,175,656 5,:,.!-!6,07i- page, 14·5; Stewart RR. to H empstead, 1 ·8; New York & Rockaway - - - - - RR., 8·9; Brooklyn & Jamaica RR., 9·6; Newtown & Flushing RR., Net earnings .............. .. ..... $4,320,392 $4,042,494 $3,70?,134 3·9; Brooklyn & Montauk, 67; Manhattan Beach RR., 10·7; N. Y. Bay Ridge & Jam., 8·1; L. I. City & Man. Beach, 1·4; ~unter's Po4i-t & So. INCOME ACCOUNT. Side RR., 1·5; Far Rockaway branoh, 9·4; L. I. City & Flushing RR., 1881-82. 1882-83. 1883-84 7·8 . ~Cotal leased and o-perated, 174 miles. The total of all the roads Receipts$ $ $ Jwned and operated ii, 354 miles. Net earnings._ ......... _.. _........ 4,326,392 4,042,494 3,702,134 The Long Islan d Railroad went into the hands of a receiver October, Other receipts and interest __ . _... 1,079,243 1,092,022 J,23>!,HA 1877, but in 1 88 1 the company r esumed possession. The second mort~aire bonds were iss ued to take up floating debt of various clas es. Total :aet income ....•.••....••. 5 ,405,635 5,134,516 4,94.0,27t The control of the company was sold to the" Long Island Company," controlled by Mr. Austin Corbin and othni,, in D ec. , 1880. In July Disbursementi$ $ $ . 1'.nterest on dP-bt ..•. _.•. _ . _..•..... 2,019,734 2,057,20'; 1881, the sto{'k was increased from $3,260,700 to $10,000,000, but the 2,03 1,675 General, taxes, floating interest, terms of inert ~se and price realized on the additional stock have never loss on Morris Canal, &c ....... . 375,490 421,920 473,35E oeen made I •blic. In August, 1881, mo t of the holders of Smith- ·gi:1:rt~~~k:::::::::::::::::::::: /flr(~~i https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ls:1l5 f:~~~:i~i -------------- 52 RAILROAD STOOKS AND BONDS . [Voi.. XLl. Subscribers -will conCer a great favor by giving immediate notice oC any error dlscovered in these Tables. -~-Bonc.ts-PrinciINTEREST OR DIVIDENDS. DESCRIPTION, Miles D ate Size, or pal.When Due. 1 Amount Par Rate per When Where Payable, and by Stocks-Last of For explanation of column headings, &c., see notes of Road. Bonds Value. Outstanding Gent. Pay_ablel on first page of tables. Dividend. W~om. ,- --- Long Island-( Oonttnued )- Consol. mort~ge, gold (for $5,~00,000) ........... New York & ockaway, guar. mt. only ........... Smithtown & .Port Jefferson mortg., guar .. ....... Equtpnent certiiicatr s .. ..........•................ Long Island Oity &Flushing-1st M .• coup. or reg. Income bonds (cumulative) ($350,000) ............ Los Angeles & San Diego-lat M. (for $2,800,00m .. Louisiana Western-lat mortgage, gold ............ Louisville Evansville & St.1,ouis.-lst mort ......... 2d mortgage, gold . ....•••.......................... Income bonds .. . .. ................................ 164 10 19 i·o34 10:.\J, 27 112 255 255 255 2,065 Louisville & Nashville-Stock ........................ General mort., gold, coup. or re,g. (',,20.000,000). 840 Louisville loan, main stem (to be paid offJ ...... . Lebanon branch, Louisville loan .. ................ do extension, Louisville loan . ............. . 110 Lebanon-Knoxville extension mort. Oil,500,000) 172 46 Cecilian Branch, 1st mortgage .................... Consolidated 1st mortgage ........................ 392 Memphis & Ohio, 1st mort., sterling, guar .. ...... 130 Memphis & Clarksville br .. 1st mort. , sterling .... 83 Mort. on Ev. Hen. & N., gold ..................... 135 Collateral trust, 3d mort., gold, sink. fund ......... 1,079 10-40 Adj. M., gold, coup. or reg. (red'ble aft. '94) 783 1st mortgage on New Orleans & .Mobile RR ...... 141 2d mortga!e do do ........ 141 Bon<ls sec' by plecl,ge of 2d mort. S.&N.Ala.RR .. 189 1st M., gold, on Southeast.& St.L.RR.,coup.or reg. 208 2d mort., go~d, on Southeast. & St. Louis RR., cp. 208 Pensacola Div., 1st mort., gold .................... 45 Mobile & Montg. Div., 1st M., ($2,677,000) .. ..... 1 80 Pensacola & Selma Div., 1st M., ,gold ($1,248,000) 104 1881 1871 1871 issi 1881 1880 1881 1880 ~882 1881 isso ·s·s 1863 is56 1881 1877 1868 1871 1872 1879 1882 1884 1880 ---· 1880 1881 1881 1880 1881 188 1 $1,000 500 500 1:000 1,000 1,000 1,000 1,000 1,000 1,000 100 1,000 1:000 1,000 1,000 1,000 1,000 £200 £200 1,000 1 ,000 1,000 1.000 1,000 1.000 1,000 1,000 1,000 1,000 1,000 town & Port Jefferson bonds and N. Y. & Rockaway bonds agreed to exchange thei bonds for the consolidated mortgage, bearin~ 5 per cent No annnal reports have been issued and the only information obtainen is from the statistics furnishe d the State Authorities. The road has bee11 much improved iu its operating d epartment under the present management . .For the year ending Sept. 30, lF85, tbe annual stati;;tic'l w ere in V. 41, p . 6ti8. Gross earnings were $2,826,478; net, $L,,) 31,'~20. The r eports Ior four years made to the RR. Comruis3one,rs ga,e gro&s earnings, &c., as follows: 1881-82. 1882-83. 1883-84. 1884-85 Miles operated.... . . . . . . . • . 35~ 354 354 .............. P assengers carried, No . .. .. 8,878,453 9,024,370 9,326,747 ........... Freight (tons ) moved...... 386,260 · 416,153 448,963 --·----Ea1·nin{Js and Expenses$ $ $ $ P assenger earnings ........ 1,608,771 1,695,177 1,759,597 1,907,34.6 F reigllt earnings . . . . . . . . . . . 634,698 727,6 ·' 3 718,743 720,630 Miscellaneous earnings . . . . 173,58S 271,169 276,005 :l91,U69 ----- ----- Gross earnings ......... 2,417.057 2,685,089 2,756,232 2,826,038 Expenses and taxes ... .. ... 1,576,774 1,683,8 14 1,859,505 1,795,25:l • Net earnings. ........... 840.283 1,001,275 896,727 1,031,220 Lease rentals............ . . 192,748 282.466 287 698 297,559 Interest and sinking fund.. 2V0,757 209,059 190,876 207,9~2 Capital stock .............. 10,000,000 10,000,000 10,000,002 10,000,o no Funded debt ............... .4,169,926 5,394,019 5,712,080 5,513,::!05 There are also Atlantic Avenue Improvement certificates, $28,875, at 7 per cent; real estate mortgao-e , $23 ,000, 5s and 7s; time loans. $350,000, at 6 per cent. cv. 39, p. 208,235,493, '705; V. -10, p. 305, 570; v. 41, p. 162, 5~7, 688, 689.) Lona- Island City & FluslJ.ing.-Road from Long Island City to Great Neck, 14 miles; branches, 8 miles; total 22 miles. This is o reorganization of the Flush mg & North Side road, foreclosed December 11, 1880. The stock is $500,000; par, $100. Tlie income bonds are payable at will. The company is liable for $25,000 o! New York & Flushiug bonds. due 1920. L eased to Long Island l<.R. for 50 years, the lessee taking 60 per cent of gross earnings and $17,500-for fixed charges. Iu 1883-84" gross earnings were about $213,000, of which 40 per cent to this company was $85,035. Alfred Sully, Pl'es1dent, N ew York City. Los Angeles & San Diego. -Florence to Santa Anna, Cal., 27 miles. Leased to Cent. Pac., aud in 1884 the net earnings paid as rental and other income was $33,374; Interest, &c, $35,121. Capital stock, $570,800. Chas. Crocker, Pres., San Francisco. Louisiana '\.Vestern.-Owns from Lafayette, La., to Orange, Texas, 112 In.iles. leases extension in T exas. 7 miles; total, 112 miles operated under the same control as the Southern P acific and Galveston Harrisburg & San Antonio lines, making pa1 tof th3 through line b etween New Orleans and Houston. Earnings in 188J, $602,120 '; net, $::!4~.!136 In 1884 grt,ss, $4.85,706; net, $2 l6 ,54.5. Surplus over interest and all charges, $65.909. Gross earnin gs for seven months from Jan. 1 to July 31, _18 5, vyer~ 0 $330,373_, ::i~ainst $248,124 i n 1 8_4; nc~, $169,4ti 1, agamst $93_, 5--. StocJr 1s $3,360,000. (V. 39, p. 32-!, 734; v. 40, p. 61, 153, 30.:-, 394,423,741; v. 41, p. 23, 134, 216, 357.) . Louisville Evansville & St. Louis.-Line of road. New Albany, Ind ., to l\1t. Vernon, Ills., 182 miles; branches to Jasper & Gentryville, 7 3 JD11es; wtal, 255 IDlles; opened for through business Oct., 1882. The road is the reorganized Louisville New Albany & St. Louis, foreclosed 1n 1878. In Oct., 1881, a consolidation was mal'l e with the Evansv. Rockport & Eas~ern, with a total ca.pital of $G,OOo,OOO. The first mortgaire. !18 above given, includes $900,000 ~f E. R. & E . 1st mortgage bonds, mterest January and JLlly . on which bonds interest was u ,,t fund ed There are also $57l ,47f'> Car Trust certificates. rn December. l 884, Geo. F . E,an s, the Gen ral Manager, was appointed receiver. Jonas H. French, Pret<idcnt, Boston, M.ass. The last 11lan of reorganization was in V. 41 , p. 7::!0, by which 1st mort!rn.g-e boudholdcws wilt talre new second _mo1:tgag<:- bonds a_nd a first rnor'tga,ge or $2,000,000 to ue issued as a pri_or lieu. Eee netmls ot' J1lan o n p . 72 t}. Foreclo ure proN•edings begun m Nov.• l et:5. In il 83-4 grus~ Parnings were l!'608 898· net 4i!t5,S05; r, ntale, ,t:23,19::!; interest. $304,20..l ; miscelhin eou»,' $20,: 454; ~efklt, _.$ ?52,5~6. (V. 39, p. 318, 409 ; V. 40, p. 28, 92; V. 4.1, p. 133,3 31,4.9o, n27, ti l t ,720) Louisville & Nasltville,- -( Sre Map .)-Lcm OF ROAD.-Main ine-Lou lsville to Nasbville. l H-> mill's; bran1.Jiles-Junct10n to Ilarcl. town, Ky., 17; Junction to Li\·ing;;ton, Ky., .l I O; LivilwB ton to Jel0 lico, Ky, 61; Montgom_eryto MolJile. 17!); NewOl'lcans to 1VIobils , 141; bra~ch to Pontchart~·am. G; Paris, Tenn., to MPmphis, 25H; E::ist St. Loms. _Ill., to EvansV1lle, Ind., 161; June., Ill., to Shawneetown, Ill .. 41; BelleVJ l 1,i , Ill. , to O'Fallon, Ill., 6; Pensacola., Fla., to Pensacola Junction. Fla., 44: branch to Muscogee dock, 1 ; Louisville, Ky·., to Newport. Ky., 110; Junction to Lexington, 67; Louisville H. Cr. & W'port. (n. g.), 11; https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $3,430,000 250,000 600,000 100.000 600;000 312,000 556 , 00 2,240,000 3,900.000 1,000,000 3,000,000 30,000,000 12,2:17.000 850.000 214,000 333.000 Pled ed. 1,00 ,000 7,070,000 3,500,000 2,058,340 2,400,000 9,897,000 5,000,000 5,000,000 1,000,000 2,000,000 3,500,000 3,000,000 600.000 Pledged. Pledged. 8 5 7 7 7 6 6 6 6 g. 6 g. 7 g. 4 3 6 g. 6 6 &7 6 6 7 7 7 6 g. 6 g. 6 g. 6 g. 6 g. 6 6 6 g. 3 ~6 g. 6 g. 6 Q.-J. N. Y., Corbm B ank g Co July 1, 1931 A. & O. do do April, 1901 s. do do Sept., 1901 .M. & 0 M."& N. N.Y., Corbin Bank'g Co. Jan. 1 do do J. & J . N. Y., Central Pacific. J. & J . N . Y., Company's Office. A . & 0 , Last paid, Oct., 1882. M. & S. Last paid, Mch., 1883. April. F. &A. L . & N. RR., 52 Wall St. J. & D. ~- Y., Drexel, M. & Co. A.. & o. New York Agency. Various N. Y., Drexel, M. & Co. A.. & o. do do M.& S. New York, Agency. M.& S. N. Y., Drexel, :M. & Co. A. & 0. do do J. &D. London, Baring Bros. F. & A. do do J. &D. N. Y., Drexel, M. & Co. Q.-Mar N. Y., Drexel, M. & Co. M.&N. N ew York. Agency. J. & J . N. Y ., Drexel, M. & Co. J. & J . New York Ao-ency. A. & 0 . N. Y., Drexe1, 1\i. & Co. do M. & S. · do M. & S. do do M.& S. do do M . &N. New York Agency. M.& s. do <to i·; May . "i911 May 1, 1931 July 1, 1910 July 1. 1921 1920 1902 1 920 Feb. 1, 188i June 1, 1930 1 886 & 1887 1886 Oct. 15, 1893 March 1, 193 L Mar. 1, 1907· April, 1898 June 1, 1901 Aug., 1902 Dec. 1, 1919 Mar. 1, 1922 Nov. 1, 1924. Jan. 1, 1930 Jan. l, 1930 April 1, 1910 March 1, 1921 March 1, 1980 Mar. 1, 1920 May 1, 1931 Mar. 1, 1931 Selma to Pineapple, Ala., 39; Henderson to Nashville, 135; Junction ~o Providence, 16; Pensacola ext ension, 29; total owned, 1.617 miles; eased and controlled-Junction to Glasgow, Ky., 10; Nashville to Decatur, 119; D ecatur to Montg mery, 183; Junction to Wetmnpka, 6~ Junction to Shelbyville, 19; Vmisvillc Transfer, 4; No. :::>iv. Cnmb. & Ohio, 27; Lebanon to Greens urg, 30; Ellrton to Guthrie. 10; tota lea::;~d and controlled, 4n9 miles; total operated Jun e 30, 1885, 2,026 miles. Also owns the Richmon d Bra,n<Jh cleasecl to Kentucky Oentral), 3-l tuiles. ar.d the Cecilian Branch (leased to Cb.es. O. & So. W.), 46 miles, and con t;roi::;, by owncr sb.ip of a m a,iority of the stock, the Nashville Chattanooga & St. Louis RR., 580 miles; t he Owensboro & ~aslrville, 84 miles; tlle P en sacola & Atlantic. 161 miles; the Nashville & Florence RR., 56 miles, and Birmingham Mineral Rai!roau, 11 miles; alRo, as joint les ees with tlle Cen t ral of Georgia, is iuttirested in the Georgia Railroad and its auxiliaries, 679 miles. ORGA.'IZATION, LEASES, &c.-The Louisville & Nashville was chartered Marcll 2. 1850, and opened betw en Louisville and Nashville November, 1859. The Memphis b rnnch, co mpleted in 1860, was opel'l.tted in connection with the Memphia & Ohio anrl Memphis Clarksville & Louisville roads, which were purchased by the L . & N. The other road. embraced in the system have b een purchased outright or are controlled absolut ely by owner,.,hip of a maj ority of th e stock, except those under leases, as above described. The liabilities for interest arc t reated mostly as bclon~fog directly t o the Louisville & N ashville Compauy. The Southeast. & St. Lou.is RR., which w a reorganized after foreclosure of the St. Louis & Southea tern, Nov. 16, 1880, is leased to the Louisville & Nashville for 49 years, ancl the L . & N. issues its bonds as above secured on the road, aoout 210 miles long in Indiana and Illinois There is also $999,500 of S. E. & St. L. stock. The fl.seal y ear of L & N. ends June 30. Annual election is held early in October. STOCK AND BONDS.-At the close of the fiscal year (June 30) 1880 the capital stock was $!:l,0 5D,36l. and in No v., 1880, the stock dividend of 100 per cent was made, raisin"" the amount to $18,133, 513. In October 1882, the company listed a t tE.e Stock Exchan~e $3,080,000 stock sold b y the city of L ouisville, raising the stock outstanding to $21.213,513 and $3,7 6,487 more was then listed, raising the amount to $25,000, uoo. ln Oct. , 1884, t h e remaining $ ",,0011,ooo u nissued was offered to a syndicate at 2 l½ with the $5,000,000 bonds at 55, raising the stock to the full limit of $30,000.000. (See V. 39, p. 409., All th e div idends p aid since 1870 were as follows: In 1871, 7 per cent; inl872,7percent; inl 73,7per cent; in1877, l½per cent; in 1878, 3 per cent; in 1879, 4; in 1880, 8, and 100 p er cent in stock in 1881, 6; in 1882, 3 . Prices of the stock from 1872 to date h ave heen: In 1873 501i>79; in 1874, 53W59; in 1875, 36½1i>40; in 1876, none ; in 1877 2611>41; in 1878, 351»39; in 187 , 35@89½;. in 1880, 7711>174; in 1881 7911>1101.g; in 1882, 46½'@100~; in 1883, 40:!s1i>5 8 ½; in i884, 22½11>513E 1n 1 885 to Dec. 18, 22@51 ~ The general mortgage of 1880 is for $20.000,000, of which the bal a nee uuissued is reserved to pay off prior liens, and the mortga ,ge covers 840 mi les 0 1 road subject to such liens. The Louisv. & Nashv. Lebanon Knoxville bonds of 1881 cover 110 miles, subject to prior llens, and 62 miles from Livingston to St ate ·ne as a first lien. The Pen. & "Atlantio is a separate company and the bonds are not a direct liability or the L. & N. Co., but principal and inter t'st ara guarc1,nteed by L. & N. A sinldng fu nd b <" qi □ s Feb., 1889. The P. & A. has issued to the L. & N. $1,000,000 lanu gmnt boI).ds pledge.t fot· advances to the P. & A. The third mortgage trust deed of 1 a~2 is made to E . H. Green and John A. Stewart as trustees, and has a sinking fund of 1 per cent annually begun in FeJruary, 1885, the bonds dmwn being redeemable at 110. The bonds are secured by pledl-{e of a large amount of stocks and bonds belongin~ to the Louisviile & Nashville Company and h eld as collateral se curity h;f the trustee of tlle mortgage. The secu rities pledged were stat din d etail in the SlJPPLE UENT up to the number for August, 18 64, the par value of b nds being $9,633,00() and Rtoclrs $U!,529 ,7 00; total, $28,162,700. See estimate of act ual value in V. 41, r> . 44-5 .) The 10-JO Adjustn•ent mortg ge b onds were issued in 1884 at 55 with blocks of stock at :l2¼, nd covl'r 783 miles of main line and branches, subject to the prior lien", and are a second lien on the trust secnrities pledged under the tr ust d eed of i882. See V. 3:), p . -!09. '.rhe Hen derson Bridge Co. bonds are not a liab ility of the L. & N. The brid~e is owned by a Feparate company, with a Rtoc·k of $ l ,000,000, of whicn the L. & N. Co. hold~ $501,00,); tile Brirtg-e Co . is ~11aianteed gross receipts of $200,000 per. ear by the sever .11 roads using it. OPERAT[ONS, FI~ANCES, &c.-The Louisville & Nashville system hav ing been developecl in its present extensive form since 1 8 79 has a &hort history. Tile 1t,O per cent .;tock div!d end declared in 1880 was made before the working and result of the newly-acquired roads could be fully developed. But tile whole system of ro.1d-, llas been working well and gaining in traffic as sho"r b.V tb.e statistics below for several yeare The un fortunate flua nciering or 18~3-84- led to th" chargf' o f $1,005,92P• a..12:ainst ~fr. U. C. B =1l1lwi11, t he late Presideut, and occasio n ed the embar rasmient with tl.oa.tin g u ebt i n 188 t. G ro.-1 s e;trni11gt; f ,1r fum· m'>ntl1s from July 1 to Octol>cr :31, in 1885, were $l,5-lJ,137, against $4,6 4,497 in l8j4; n t t, $1,770,-1 i4, against $1 .988.800. The annual r eport for 1884-8 5 was in the CIDW~ICLE, V. 41, pd. 24.0. 'The comµara tive statistics wer<' as follows for t,he roads operate as Lhe Louisville & Nashville s;rstem p.·oper. ~ECEMBER., 1885.l RAI LROAD STOCKS AND BONDS. MAP OF THE LOUISVILLE & NASHVILLE RAILROAD AND CO NECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ,. .tlAILROAD STOOKS AND _BONDS. lVOL. XLI. Su.bscrlbers will conCer a great Cavor by giving hnmedlate notice oC any error dlseovered-in these Tables. DESCRIPTION. INTEREST OR DIVIDENDS. Bonds-I'rinc1Miles Date Size, or Am t pal,When Due •. .For explanation of column headings, &c., see notes of of Par Outsti:ilin"' Rate per When Where Payable, and by Stocks-Last on first page of tables. Road. Bonds Value. ° Cent. Payable Whom. Dividend. - - - - - ____ ,_____ ---- Louisville d: Nashville- iOonUnued)- Pemm. & Atl., m. gold, guar., $1,000,000 pledged. Louiev. Cin. & Lex., 1st mort ......... . ........... . do 2d mort., cou_P.., for $1,000,000 L. &N. mort. on L.C.&L., ~old, '1!3,208,000 pldgd. Car trust li ens ....... . ............................. . Car liens, Louisv. Cin. & Lex ..... ...... ... ..... • .. Henderson Bl'idge Co., 1st mort., gold . ........•.. Louisville New ..4.toany d: Ohicago-Stock ..........•. 1st mortgage, gold, coup. or reg . ....... . ..... . ... . Mort., gold, on Chic. & Ind'polis Div., coup. or reg 2d mortga_g e, gold, conp. or reg ............. ..... . General mort. for $3,000,000, coup. or reg., gold. Car Trust Certificates ................ . .....•....... Louisville New Orleans d: Texas-Stock ... . ......... . 1st mortgage, coup. or reg .. .. .. .. ...........•... .. Income bonds (not cumulative) ....... .•. .......... L'ukens Valley-Stock ............................... . Mahoning Coal-Common stock .... ................ . Preferred stoc.k, guar ........ ... ............... . . . 1 st mort., coup., guar. ·by L. S. & M. So ........... . Maine Oentral-Stock ....................•... ........ 1st mortgage, consolidated........... . .......... . Collateral trust bonds for Mt. Desert Branch .... . Sinking fund I 0·20 gold bonds .. ......... .. ...... . Bonds {$1,100,000 loan) A. &. K. RR . . .......... . Extension bonds, 1870, gold ...................... . Maine Central loan for $1,100,000 ............... . European & North American (Bangor loan) . ..... . Leeds & Farmington Railroad loan .............. . Androscoggin Raih·oad, Bath City loan . ....... .. . Portland & Kennebec, consolidated mortgage ... . Manchester d: Lawrence-Stock . . ...... .. ........... . 185 175 175 175 1881 1867 1877 1881 1882 $1,000 $2,000,000 1,000 2,850,000 100 &c. 892,000 50,000 !,000 1,000 1,124,000 61,974 issi 1,000 2,000,000 47i 100 5,000,000 1,000 3,000,000 288 1880 1,000 2,300,000 158 1881 446 1883 1,000 855,000 2,000,000 451 1884 1,000 600,000 45·5 .... 4,5 10,00 ,) 100 1,000 13,650,000 455 1884 9,100,000 1,000 453 1884 20 600,000 21 ... . 1,!'100,000 50 43 ... . 400.000 50 43 ... . 1,000 1,500,000 43 1834. 3,603,300 100 482 .... 4,175,900 304 1872 100 &c. 444,000 4L 1883 1,000 600,000 .... 1S85 1,100.000 55 1860-1 100 &c. 496,500 18 1870 500 &c. 756,800 109 1868 100 &c. 500 &c. 1,000,000 5611869 633,000 36 1871 100 &c. 425,000 30 1866 100 &c. 71 1865 100 &c. 1,166,700 100 1.000,000 26 .... EARNINGS AND EXPENSES. 1881-82. 1882·83. 1833·84. 188!· 85. 2,028 2,065 2 ,o u5 2,026 $ $ $ $ Total gross earnings 11,987,74.5 13,234,915 14,351,093 13,936,34.6 7,429,370 8,099,595 Oper'gex. (excl.tax.) 8,823,782 8,132,255 Miles operated ..•... ---- 6 F. 7 .J. A. 7 6 g. M. A.. 6 ..6.g. 6 g. 6 g. 6 g. 8 & & & & & A. ~- Y., Hanover Nat.Uk. Aug., 1921 J. N. Y., Drexel. M. & Co. Jan., 1897 do do 1907 N. New York A~~mcy N.ov. 1, 1931 0. Philadelpnia. 1881!•89 1884-88 Sf\pt. 1, 1931 0. J. ),r,•. J. N.Y.,NafBir."coi:nmerce Juiy·1,""i910 F. & A. do do . Aug. 1, 1911 F. & A. do do Feb. 1, 1888 A . & 0. do do April 1. 1914, ,T. & D. . . •. . . . . . . 1892 ..ts" i'li.'&·s . 6 Augu t. Q.-J. 212 0 New Yoi-:ir~·offlce. Sept.""i,""i934. do do Sept. l.1. 1934 New York, Treasurer. Jan. :.:, 1885 ··2~ ...(1) .•• t, July 1, 1934 Aug.15,1885 April 1, 1912 .Time 1, 1923 F ,b. 1, 1905 1 90 to 1891 Oct., 1900 Tuly, 1.898 J ,n. 1, 189\l July, 1891 -Tuly, 1891 .A. 'l'il 1, 1895 N ,v. 2 tA85, J .. &.J. :::::::::: 3 F. &A. . ....... . . 5&7 A.. & O. Boston, 2d Nat. Bank. 5 J. & D. Bost., .Am.Loan& Tr.Co. 6 g. F. & A Boston. 2d Nat. Bank. 6 M'nthly do do 6 g. A.. & 0. do do 7 J. & J . do do 6 J. & J . Bost., Merch'ts'Nat.Bk. 6 J. & J . Boston, 2d Nat. Bank Q.-J. . do do 6 6 A.. & O. do do 5 M.. & N. Manche;iterand BoF1ton Receipts- INCOME ACCOUNT. ~t::ra~~~~~\s:::::::::::::::::::::::::::::::::.: Total income ..........•........ . ............ Disl,iu•semenls- ]882. $373,437 1883. $390,035 105,696, $373,437 $495,731 $98,035 $106,245 4,558.375 5,135,320 Net earnings .... 5,527,311 5,754,091 Rentals paid ... .......•............ . ............ Interest on debt ........ . .....................•.. 318,0LO 393,620 INCOME ACCOUNT. Miscellaneous . . . . . . . . . ............ . ....•....... 25,000 9,822 1981-82. 1882·83. 1883·84. 1884-85 . --Receipts$ Total disbursements . ...... . ... . ........ . . . . $141,035 $509,687 $ $ $ 4,824,816 Net income* ........ . 5,270,091 5,800,14.4. 5,952,683 Balance, deficit.... . . . . . . .. . . .. . . . .. ... . ••...... $ '7,598 $13,956 DisbursementsWm. Dowd, President, N.Y. (V. 38, p. 595, 618; V. 39, p. 296; V . 40 300,238 339,409 Taxes ................ 309,450 379,845 Rentals ..........•... 62.000 67,000 67,000 58,333 p. 363.) 3,705,823 Interest on debt ..... 4,053,2~4 -1,207,223 4,026,543 Louisville New Orleans & Texas-(See map)-Line of road Divid'son L. & N., N. Memphis, Tenn., to New Orleans, La.. 4.55 miles; Leland to Huntington, &D.andM. &M ... 654,353 110,053 113,090 116,242 Mis, ., 22 miles; Waslliugto .1 Co. branoh, 34 miles-total owned, 511 110,000 11,UOO 49,299 miles. L '.:;aseu -Clinton to Port Ha.dson, La., 22 miles; total operated, .. ii,1·s2 5,854 8,3.7 7,542 533 miles. T bis road was bailt in the interest of the Huntington system ----- - - - - o! roads. and forms the connecting link in that system across theTotal disbursements. 4,847,268 4,575,868 4,716,145 4,637,806 Continent from Norfolk to San Francisco. The present company wa& Balance, surplus . .•. 135.008 722,699 1,116,337 1,356,890 organized Sept. 5. l884. The road wag opened for through business Oct. 13, 1884. The iucome 0onds are a first mortgage on 750,000 acres of land in the Yazoo D elta. The fir t mortgage bouds are issued at$30,000 ~ Including i.ncome from investments. per mile ou the main lin~ and $20,000 per mile on the branch lines~ GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR. The company own.· a controlling interest in the Mississippi & Tennessee 1881-82 . 1882-83. 1883·8-!. 188!·85. Railroad. Mr. R. T . Wilson, Presi ent, New York. (V. 39, p. 234, 311,. ..4.ssets316, 454, 606; v. 40, p. 363.) $ $ $ $ Road,equipment,&c. 61,593.923 67,385,426 67,776,')64 67,9i>0,874 Lykens Valley.-Owns from Millersburg, Pa., to Williamstown, Timber & quar. lands 7 63,638 715,773 688,024 689,9U Pa., 20 miles; branch, 1 mile; total operated, 21 miles. It is a Stocks owned ...... . 1 ,010,798 13.565,8 .) 2 t6,904,853 2,005,590 coal road leased and operated by the Northern C~ntral R ailroad since Bonds owned ...... . 1,164,338 1.940,623 4,050,673 4,2 !9,861 July, 1880, and previously by the Summit Branch RR. The lease is for 8tks&bds. held in tr't 9,527,878 9.527,878 9,527,878 9,527,878 999 years from March 1, 1866, and the rental is $62,500 per annum. Bills & acc'ts. receiv. 1,655,750 2,011,330 1,922,'.l03 1,771,487 1'Iahoning!Coal 8Kailroad.-A.ndover to Youngstown, 0., 38 Materials, fuel, &c .. 1,419,279 833,112 762,273 726,62! Cash on band ....... . *1,238,517 242,929 297,316 404,714 miles, aud branches for ore and COJl, 5 miles; total, 43 m. On July 1,. 80. & No. Ala. RR .. . 1,276,041 1,454,904 1,565,968 1,733,805 1884, t he road was lease'1 in perpe tuity to the L'.1ke Shore & M . S. at a Nash. & Dec. RR. .. . 504,121 57::J,044 599,!78 603,250 rental of 4 , p er cent of grvss ear ·ngs, but 5 per cent per annum was Other roads ........ . 676,159 921,690 l,l 7:t,928 1,567,793 guaranteed on the pref. stock and 1st mortgage bonds. Cartrustfurnls ..... . 1'Iaine Central.-Mi.leage as follows: Main line, Portland to Ban469,639 ········ ···· ·· ·· ....... . Lou. & Knox.Exten. 1,114,0H .... .... . .... .. . gor, Me., via Au_g usta, 136·6 mil s; branches, Cumberland Junction toC. C. Baldwin acc'q. ...... . ..... ......... 1,005,929 Skowhcgan, 90 7 miles; Bath to Farmington, 71·2 miles; Crowley'sSinking fund . ...... . 50,000 50,000 50,000 50.000 J unction to L ewiston, 4·7 mile ; to tal owned, 30J· 2 miles. Leasedl'ro:fl.t and lOss .... .. . ........... 2,179,344 Burnham Junction to Belfast , 33 ·1 miles; Newport Junction to Dex t er, ---···-· 14 milrs; Brewer Junction to Bucksport, 18 ·1 miles; Bangor to VanceTotal assets ..... 82,464:,122 94,222,561 9J,324,187 94,59!.,970 boro. 114·1 miles; Penobscot Switch to Mt. Desert Ferry, 41·7 miles ;. Liabilitiestotal leased, 221 mil :1s Total operated, 527·2 mil~s. 8tock ... ..... ..... .. . 18,133,513 30,000,000 30,000,000 30,000,000 This was a consolidation in 1862 of the Androsco"'gin & Kennebec B'nds {seeSUP'MENT) 58,087,778 57.903,230 57,530,712 61,958 ,314 Railroad and the Penobscot & Kennebec. In August, 1873, the PortLouisville bonds ... . 850.000 850,000 850,000 850,000 land & Kennebec, Somerset & Kennebec and Leeds & Farmington railDebentures ........ . . 605,000 L'Oad.s were also consolidated with the Maine Central. 567,400 5~9.800 Bills payable ....... . 592,729 526,558 3,599,266 is9ji70 The annual report was published in V. 4.1, p. 686. The ending o:O Interest . .......... . . 430,716 445,359 475,759 499,435 the fiscal year was changed in 1881 from Dec. 31 to Sept. 30. The Pensa. & At. RR ... . 1,205,707 report had the following: ·so~cii:f,i 66,877 FISCAL RESULTS. Miscellaneous . . . . . . 34.933 34,774 1,714,301 Allotherdues&ac'ts 1,236,1 52 1 ,060,168 Earnings188l·S2. l.130,936 1882-3. 1883-4:. 1884-5. Profit and loss....... 777,501 2,067,565 . .. . .... Passenger . ........ . . $895,989 $1,147,207 $1,197,413 $1.190.074 2,762,984 -------- . Freight . . ........... . 1,067,716 . 1,54.1,961 1,475,845 1,502,458 113,389 Total liabilities.. 82,464,122 94,222,561 96,324,187 94,591,970 Mail, express, &c .. . 146,326 143,115 147,24.7 ~T~~!ri!:~~~~~~~~:: --- s5o:soo ---- - - --- - * Including balance due for trn t bonds. t Included $5.000,000 L. & N. stock unissued. t The company claimed that Mr. Baldwin is indebted to it in this sum. -(V. 40, p. 28, 61, 120, 182. 281, 304, 338, 424, 508, 54'.3. 025, 6 :i 2, 684; v. 41, p. 23, 51, 161, 215, 229, 2-10, 254, 273, 392, 430, 445, 4.46, 49:1, 527, 65:J.J Louisville New A.lbany & Chicago.-Operates from New Alllany Ind. ~ opposite Louisville, Ky.), to Michigan City, Ind., 288 miles ; Indian~ apolls to Hammond, Ind., 163 miles; lea sed-Hammond to Cbica"'o 20 miles; total operated 4 71 miles. A lease for 999 years with Chic1i.go & Western I!fdi!-1-na at $127,000 per year gives entrance to Chicago. The Lomsvillc New Albany & Chicago was opened in 1 852 and sold in foreclosure Dec. 27, 1872,and reorganized without anybonded debt. In Aug. , 188 1..1, consolidated _with Chicago & Ind. Air Line, and stock increased to ;i;5,000,000, g1vmg 15 per cent increase to stockholders of record Aug. 31. In 1880 the company sold the $3,000,000 of first mortgage bonds to the stockholders at 20 cents on the dollar. In 1883 the 2d mortgage bonds were issued, payable in 1888. The new morto-a"'e bonds for $3,000 000 wtre a uthorize ~ in 1884, aud ffl,0007ooo reserved to pay off the 2d mortgage. FIScal year ends Dec. 31. The annual returns. for 1883 were furn~hed the CHRONICLE and published in V. 38, p. 619; _nut no statement for 188! has been made. Earninoos, 0 expenses and iucome were as folloWE: 1882. 1883. Total gross earnings............................ $1,382,974 $1,627,883 -Operating expenses and taxes . . . . . . • . . . . . . . . . . 1,009,537 1,237,848 Net earnings .••..••..• ~ ......••...•...•...•. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $373,437 ----- Total gross earnings $2,077,094 $2,835,494 $2,816.373 $2,839,779' Expenses and tax.es. 1,3.:;9,37' 1,839,707 1,750,710 1,730,902 Net earnings . .... Receipts- Net earnings ....... . Other recei uts ...... . Total income ..• . Disb ttrsements- Rentcils paid ....... . lnterest on bonds .. . Dividends .......... . - · - - - - - - - - - - - ----- $717,721 $995,787 $1,065,663 $1,108,877 INCOllE ACCOUNl' 1881-82. 1882-83 1883·8-1. 1884·85-. $717,721 $995,787 $1,065,663 $1,108,877 5,368 29,121 10,421 7,828 ------ ------ - - - - - - - - $723,089 $1,024,908 $1,076,084 $1,116,705 $54,000 569,542 71,822 $182,958 64-tc,146 197,522 $189,000 661,395 215,53.! $189,000 701,767 215,541 - - - - - - - - - ----- - · - - - Total disburse's $695,364 $1,024,626 $1,065,927 · $1,106,308 Balance .. . . .. . . . . . . . $27,725 $282 $10,157 $10,397. -(V. 39, p. 553,680; V. 40, p. 61,717; V. 41, p. 44.5,527, 549, 686.) Manchester & Lawrence.-Owns from Manchester, N. H., t,o Methuen (State Line), 2214 miles; leased, Methuen Branch of th& Boston & Maine Railroad, 3 34 miles; total operated, 26 miles. Road in operation since 1849. Form rly operated with the Concord RR .. as one line. on a division of joint earnings. Methuen branch ia leased at a rental of $ ll,000 per annum. Company lays claim to a twofifths interest in the Manchester & North Weare RR., which is operated l;>y Concord RR. Ten per cent dividends are paid. The :fl.seal year ends March 31. Gross earnings in 1883-84, $183,086; net, $100,667. In. $390,035 1884·5, gross, $174,578; net, $100,909. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE LOU]SVl(LLE, BEW OBLEANS &, TEXAS R. B. RAILROAD STOOKS AND BONDS. [VOL. XU. Subscribers -w-ill conCer a great Cavor by giving lm1nediate notice ot any error disc vered in th.,se •.rabies. DESCRIPTION. Mil D t s· INTEREST OR DIVIDENDS. Bonds-.Prmcj es a e 1ze, or Ameunt 1--------__:_:..:__..:....:.:____::..:::...:=-=-..:..:....-- pal,When due. For explanatiol! of column headings, &c., see notes of of Par Outstli!ndin"' Rate per When Wbere Payable, and by Stocks-Last, on first page of tables. Roatl. Bonds Value. "' Cent. Payable Whom. Dividend. Manhattan Beach Oo.-Stock .... -·········· ········· N. Y. Bay Rid_$e & Jamaica RR., stock, guar.. ... N. Y. &Man . .J:SeachRR., 1stmort11:age........ ... do pref. stock· ···-···· ···· Man. Beach Impr. Co. (Li.mited), mortgage bonds N. Y. Bay Ridge & Jam. RR., 1st mort. (guar.)... Mannattan (Elev)-Consol. stock, ($26,000,000).... Metropolitan Elevated, 1st mortgage ..... _....... do 2d M. (guar. by Manhat'n). N. Y. Elevated, 1st M.(payaule at 105 after 1896) MarquetteB. & o.-Coillmonstock ---·············· · Preferred stock............................ . ....... lat mort., M.& o., coup. ..... ............ ....... .. M. H. &O. mortgage... . ........................... Bonds for Extension, &c.. ... . .. . . . . . . . ..... .... .. . M. H. & O. 1 st mortg. on ~1!11'. & We~t. ... .. ... ... Memphis ct Ohm·leslon-Stock........................ 1st & 2d. mort. extension :.rnnds, Ala. &.Miss. Div. 2d morlgage, extendecl. .. . . ..... .... ... .. .. ..... ... Consol.mort., gold ( 1st lien on 91 m. in Tenn.).... Consol. mortgage, gold............................. Memphis & Vitlle Rlc.-lst preference mortgage.... Generalm ort.,landgrant,(s.f.$10,000) .......... Mexican Oe11/1•al (.Mexico.J-lst mort., reg., gold ... Income bon<ls, couv., not cumulative, reg. ........ Coupon notcsforintHestfnnded .... ···· · ·-·· · ··· Debentur... s rsecured by collateral) (V. 39, p. 733) Mexican National Railway (MexicoJ.-lstM., gold.. 2dmo1t. debentures (income) ..•......... ······-· M·ichigan Oentral-Stock ............ ..•............. Consolidated mortgage ($2,000.000 are 5s)....... M. C . .VCichrn:an A.ir Line mortgage... .... .. ~..... Michi.gan Ai.r Li.ne 1st mort., assumed by M. C.. .. .... .... 14 .... .... .... 1877 .... 1879 · · ·4 ... . 36 . ... 14 1878 18 1879 18 1876 135 .... 135 .... 50 1872 90 1878 ··-· 1883 . ... 1885 328 .... 181 1854 . . .. 1867 292 1877 292 1877 133 1877 133 1877 1,340 188.l .... .... 11'!84 . . . . 1885 . ... '81-'82 188-! 1,468 .... 270 1872 103 1870 10 1870 $. ... . ... 500 &c. 100 500 &c. 500 &c. 100 1,000 1,000 1,000 100 100 100 &c. 1,000 1,000 1,000 25 . .•. . .. 1,000 1,000 1,00J&c 250&c 1,000 1,000 100,&c. 1,000 1,000 1,000&c 100 1,000 1,000 1.000 Manlla~tan Beacll Co.-A consolidation under tihe above title wa~ made m I•'ebruary, 1880, of the New York & Manhattan Be~ch Railway, the Manhattan Beach Improvement Company and the Manne Railway Company. The stock or the new company, amounting to $4,680,000, embraces the stocks of all the other compallies converted into it, a,n d the Manhattan Beach Co. holds thos_e stocks in its treasury, {except, ~he New York & Manhattan Beach Railway preferred stock) , as also $300,000 2d mort. bonds of the New York & Manhattan Beach RR. The New York Bay Ridge & Jamai ca Railroad was leased and the bonds and stock arc guaranteed .. In December, 188 1, a lease of the New York & Manhattan Beach Railway was made to the Long Island RR. for 35 p. ct. of gross earnings to the lessor, but the sum of $97,500 per vear 1s guaranteed to pay all annual charges. Iu Aug., 188-l, th e N. Y. Bay R. & J. road, the N. Y. & Man. Beach and the L. I. Citv & ~I. B. were consolidated under the title of the" N. Y. Brooklyn & M'anhat· tan Beach." (V. 41, p. 216.) Manhattan Elevated.-Road operated, 32·39 miles. This was a corporation formed (Nov. 24, 1875) tt> lease and operate the two elevated railroads in New Y~rk City. Its capital stock wa,s $13.000,000, and it was to pay the rnterest on the bonrt.s of the two elevated road and certain dividends. The original lease of l\fay 20, 1879, guaranteed 10 per cent per o,nnum on the stocks, but this lease was amended in October, 188 1, by-agreements among the three companies, which were supplem ented by an agreement of Nov. 14, 1881, for the surrender of the stocks of the other companies, and the issue of n ew stocks by the Manhattan Company, but this was never accepted by the Metropolitan stockholders, and, after litigation, it was decided ,l!,gainst the M::mllattan In June, 188--1, a new compromise agreement wa~ made and afterward ratified by the stockholders of the three companie• by which a 1 liabilities were as!'umed, and new stock was issued by the Mauhnttau Company to the holrt.ers of stocks in the other companies. ,iz: For l\-1~nhattan, 85 per cent in new stock; for New Yorlr, 120 :per cent; fur Metropolitan. 110 per c ent. Tnere a re large claims pending against the el evatr>d roads for da,mage to property on their lines, ancl many of these are befora the courts. The report for year ending Sept. 30 showed tile following iucome: 13s,3.4_ 1gs4._ ,_ Gross l?arnings . ................................. $6,726,3:59 $7,000,567 Operatmg expenses ....................•.... . .. 3,881,949 3 .967,l:l83 Net earnings . ............. ····-····· ...... $2,84.1,410 Interest on bonds, and r entals ................. l ,381,713 $3,0::l2,58! 1,45 1~.0±3 Balance ..........•...............••.••.... $ l ,459,697 Deduct dividends ............ ................... . 1,170,000 $1.573,5n 1,560,000 Surplus .. ............•........................ $289,697 $13,5-il The followin g is a statement of the number of passengers carried on the elevated railroads in New York, aud t,he gross earcings, since the completion of the r oads : Passengers. Earnings. I· Passengers. E ;1rninc:s 1878-79 .. 46,045,181 $3,526,~25 1882-83 .. 92.12 -1 .943 $6)38ti,5tl6 1879·80 .. 60,831,757 4,612,976 18 ➔ 3- ·H .. 96,70l.6ZO 6,723 832 1880-81-. 7f>,5~5,778 /i,311,076 1884-85 103,354,72~ ';,00 (1 ,566 1881-82 .. 86,361,029 5,973,683 At the annual meetinir in November, 188 '\ the f()llowin.l!.' ilircctors were elected; Jny <.:1011ld, R. l\1, Gallaway, Russell Sage, Cbester W. t'hn, pin Sidney Dillon, Edward M. Field, J. Pierpont Moi:-1pm, Cyrus W. Flel•i: John H. Hall, George J. Gould, Samuel Sl oan, Sunon Wormser, S. V. White. (V. 40, p. 61,241,337,597,652,685; V. 41, p.420, 5'56, 654.) $4,680,000 300,000 500,000 ?50.000 1,000,000 200,000 23,l:l71, 395 10,818,000 4.000,000 8,500,000 3,39 ~,ooo 2,259,026 1,427,500 576,200 1,163,000 1,400,000 5,312,725 2,155,000 105,000 1,400,000 864,000 250,000 2,600,000 36,87 ,1,000 8,128,4.00 3,840,000 2,500,000 24,330,000 13,437,()00 18,738 ,204 10,000,000 1,900,000 200,000 7 7 3¼ 7 7 l½i 6 6 7 4 212 8 6 6 6 .... 7 7 7 g. 7 g. 8 8 7 g. 3 10 10 ~ g. ., 3 7& 5 8 8 -·c·t·. •_·.·.·.·.·. ·. ·.·_·_ A·n·n-·□·a·lly ··. 0 J. & J. N. Y., CorbinBank'gCo Jan. 1, 18Q7 Marcli~ · N. Y .. COJ:biiLBank'g Co i9o9 J. & J. do do July, 1896 Q.-J. ~- Y., Mercantile Tr.Co J Hn. 2, 1886 J. & J . clo uo July, 1908 M. & N. do do Nov. 1, 1899 J. & J. do do Jan. 1. 1906 In 1883 F. ·&·A. ·········· A.ug. 15, 188-! J. & D. Boston, N. Eng. Tr. Co. JUlle 1, 1892 Mar. 1. 1908 M. & 8. do do June 1: 1923 J. & D. do do April 1, 19~5 A.. & 0. do do . ... ,T. & J. N.Y.,W. R. Brown&BL·os Jan~ ·i...1915 J. & J. 1915 ,T. & J. N.Y.,W.H. Brown&Bros Jan. 1, 1916 J. & J. do do Jan. 1, 1916 M. & N. Last paid May, 1882. May, 1883-84 J. & J , LastpaidJan., 1885. · July, 1907 J. & J. Boston. July 1, 1911 ,July 1 ' do July 1, 1911 J. & J. do July 1, 1889 A. & 0. do April 1. 1895 A. &_ O. Last paid, Oct., 188 3. Ju.Iy 1, 1912 Apnl. ..... . .... Jan. 1, 1974 F. & A.. Grand 0entral Depot. Feb. 1. 1884 M. & N . N. Y., Union Trust Co. May 1, 19(2 li J. & J. ii •l do j' ,Tan. 1, 189u M:. & N. do do Nov. 1, 1890 M:&-·s. Iested In S~pt., 1883, a large block of the stock was obtaincrt. by parties interm_the East Tennessee Vir.=: nia & Georgia RR., and in Se.pt., 1885, this and enough more to m a ea majority was put iu the Central Trust Co. for the E. T . V. & G. Co. For four months from July l to Oct. 31 grnss earnin "S w :,re $118 630 in lE-185, against $456,763 in 1884 · net, $124,471, a ~afnst $141.77~ . For tile year end~ng June 30, 1 5, gross earnings W<'re -f; L.:-~84,906 ; net, $268,263; ag11m:st $ L,394,01 9 gross and $435 !ll 1 net in 1883-4 The annual report was in V. 41, p. 611. (V. 40, p. 61, '363, :-94, 508 684; V.41,p.155, 189,241,356, 49>, 585,611, 612.) ' lUeinpllis & Little Rock.- wns from Little Rock. Ark., to Memphis .. '.renn., 135 miles. D efault w a s made Nov., 1872, and the property sold m foreclosure. The new com any also defaulted, and the roa<i was sold and reorganized April 28, 1877. The stock is $1,500,000. The company had a lan!l grant from Congress of 1,000,000 acres. In April, 1880, control of this company was purchased by parties in the interest of the St. Louis & Iron Mountam. Afterward d efault was made on the coupons anu bonqholcters were offered a 6 per cent bond in place of the 8 p er cents, which was declined. In April, 1884, a receiver was appointed, and the property is no"Y in hands or trustees or the O'en eral m ortga,2;e. .A.bout $250,000 is in possession of the Court awaitin; result of the litigation between bondholders and t he company. Tim preference mortga~e bonds were extended aad fell due $50,000 on l\fay 1, 1884, and balance May l, 1833. In 188.1 gross earnings w ere $721 .8 ')0 net $1-lo-,670; gro:5searningsin1883, 877,406;net, $244,124.. (V. 39,p.'157.) ~e~ican Cent~al (~exico ) .-On Dec. 31, '84, the mileai.re wasMmn_ 111,e from Me_x1co 9tf,)_ nort , t9 El Pa~o tle l NortC1 l,~~5 miles, 96 nules on Tampico D1V1s10n, 11 miles of Guanajuato 13ranch 1 and 16 miles on the Pacific Division, had also been built, and a short b ranch 7 miles to stone quarr.v, malling at tal of 1,354 miles. The comp any was incorporat ed Feb. 25, 1880, under the general law of M--iss::i,chnsetts, and by transfer the company holds the c1ia.rtPr from the Mexican Government. granted D ec. 5, 1874. for a r o a d from Mexico City to :i:,eon , and by modification including lines to PaRo del Norte Guadall:\]ara and Lare~o. The company also has oth er rights granted by the ,State of ChLhuahua. 'rhe comvany has a subsidy from the_ Mexican q-overnment of ~15,200 per mile on most of the lines, ~h1ch t~e Mexican Goverm~nt issues to the Uo. as the road is accepted, m "certificates of c~nstr11ct10n of the Central R'y, to be redeeme.,t with 6 per cent of all duties produced at the ma,ritime ::i.nd froutier cuiltomhouses of the Republic." In July, 1 885, the Mexican Government stopped paying all subsidies, owing to its embarrassment. The inf'o111e bonds are convertible into stock at par. The stock is $33,l 70,5l!O. In June, t8R4, it was d ecided to pass the interest dne July 1, and to ask bondnolders to fund three coupons July 1, I 884, to July 1, 1885, inclusiv~, amounting to $3,810,375, for which 10 per ceut coupon notes maturwg in five years were offered, secured by rteposit of the coupons, a:n d hy a°: amount o r Mex. Gov't subsirly cPrtificates equal to the principal a.nd mt. of t11e coupon notes. The total amouut of 1st mo1·t. bonils issLieq stood Dec. 31. 1,..8 -1, t $-12,850,000, of which $5.976.000 ~voi\!l:ra~:1°"ds of company or t rust;ees, including $2,500,000 held as In Dec., 1885, it was proposetl t o reduce the interest on 1st mol'tgage bonds to 4 rer cent. with n agreement to pay the remaining 3 pel' cent in any year when earned, but not to be cumulative. See V. 41, p. 721. The annual report for 1884 wa in V. 40, p. 451. For ten months from Jan: 1 to_Oct:. 31, 1885, gross arnings (in Mex-. cur.) were $2,900,297, agamst $:?,40~,257; net, $1,19R,157, against $298,787 (V. 39, p. 48, 96, 409, 4::;5, 783; V., 40, p. 2G , 356,451,454,741, 763; V, 41, p. 51 Marquette Hougll.ton &-Ontonao-on.-Owns from Marquette 76, 161, 189, 241, 330, 3l:l2, 4.iO , 446, 585, 653, 72 L) ~ch., to Houghton, 1;15 mileR; branclleR, 40 miles; tota.l operated, 135 Mexican National RailW"ay (Mex. )-Jan., 188f>, road built from miles. Ha. a land grant o.l' about 80,000 acres. Tlus wa~ a consolidation Aug. 22, 1872, of the Marq. & Out. R 'y anu the Houghton & Ontona"'on Corp11s Christi to Laredo (TexasJ., Mexlcu.n R.R.), 16l miles; Laredo to Saltillo, 23 '> mlles; Matamoros Div., 76 miles; branuhe , 22 m iles; total Railway, and in 1888 consolidated witl1 Honghton & L'Anse Railroad and completed t!Je Pxt ension lromL'A11srtoHoughton. In Marull, l 8S5 Northeru Division. 49-! miles; City of Mexico to Morelia, 23 -'> miles; .A.cambaro to Sau Miguel. 7ti miles ; El Salto line, 51 miles ; Manzanill o purcbaserl tne Marquette & West. ro .11l, 27 miles, and issuert. therefor the above $1,400,000 b onds and $600,000 of common stock The business to Armeria . .: 9 miles; branches, 5 miles; t otal Southern Div., 416 miles; total road finished, 910 mile~, leaving a ~ap ()f 362 ruill:'s to be completed consists largp,ly of th:e traJ?,-sportation of irnn ore, The annual r eport for 1884-5 was published m V. 40, p. 715, and t he income account to connect the Northern and Southern divisions. Built by the Mex. Nat. Construction Co., which received a subsidy of $11,270 per mile of road, showed a surplus of $141,634 over interest payments and 2-12 per cent secured by 6 per _cent of the Government receipts from customs. In dividends on pref. stock. Operations and earnings have been : J -;.11y, 18e5, subsidy payments were suspended. Stoek is $25,Passenger Freight (ton) Gross Net 875,000; par 01' shares, $100. Coupons on and after Apl'il 1, 1884, were Years. Miles. Mileage. Mileag-e. Earnings. Earnings. passe.d. In Oct., 1 F85, a circular to bondholders proposed funding nine 1882-83. 99 2,702,8"44 31,050 ,684 $1,152,793 $579,966 coupons, April, 1884, to July, 1838 inclusive, and to permit the com1883-8-!. 135 2,616,175 23,488,679 902,159 392,335 pany to issm1 its pre!t-rred mort,gage bonds on the whole road at $10,000 1884-85. 135 2,793,812 26,012,817 819,198 3::J0,2U per mile. Ot the bonds $19.3 0,000 have interest April & Oct., and -(V. 39, p. 182; v. 40, p. 304,542,684, 715.) $5,000.000 J. & J. The seco11.d mortgage debentures w e re issued in 0 Ien1pllil!I & Charleston.-(See Map of East Te >i riessee v-ir- 18~4, for new acquisitions, &c., and into the e bond,i t tJ.e nine l st mortginia cf; Geo gia.-Owns from Memphis Tio Stevenson, A.la., 272 miles• gage coupons are funded; interest on the debentures is payuble only if earned and is not cumulati . For nine months from Jan. I, branches-tc, Somerville l;j miles, to Florence 5 miles; leased, Steven' son to Chattanooga, 40 miles; total operated, 330 miles. This road was 1885, gross earnings were $ 999 ,071, a,~ainst $1,027,059; net, $180,294. against $95,703. W.J. P almer, President, New York. (V. 39, p. leased June 2, 1877, to the East Tennessee Virginia & Georgia Railroad for twenty years from July 1, 1877. Of the consolidated mort- 264; v. 41, p. 215,241,392, 42v, 585, 612.) ga~e, $1,400,000 are secured by the old Tennessee State lien for $1,736 Michigan Oentral.-LINE OF ROAD.-Main line-Kensington to 900, a..ssigned to a trustee, and these are usually quoted higher than Detroit, ~70 miles; and Windsor to Suspension Bridge (Can. So.), 226 the other consolidated bonds. miles; total main line, 496 miles. Branches owned and leased-Mi.ch. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis DECEMBER, 1885,] RAILROAD STOCKS AND BONDS. Subscribers urlll conCer a great Cavo:i- by giving imtnediate notice of any error dtscovere.I in these '..l'ables. Bonds-Prinel• INTEREST OR DIVIDENDS. DESCRIPTION. pal.When Due. Miles Date Size, or A.mount of Par Outstancling For eA'J}lanation of column headings, &c., see notes of Rate perl When Where P ayable, and by Sff1Cks- Last Whom. Dividend. Road. Bonds Value. Cent. Payable on first pa~ of tables. ----- - - - ·- - -- - · - - -· - - - -· - - - - Jl.whigan Centralr-( Cou,tinued>M. u. bonds, mort. on Grand River Valley RR .. . 82 Ka'lamazoo & South Ha.ven, 1st mort., guar ...... 39 do do 2d mort., guar ...... 39 GTand River Valley, stock, guar .................. 84 do lat mort., guar ...... ... ..... 84 Detroit & Bay Ci% 1.st mortgap'e, en~orsed ...... . 145 :M. C. mort. on D e ·oit & Bay City Railroad ....•.. 145 Jackson, Lansing & Saginaw, eonsol. mort ..... .. 236 do do do ........ 298 M ichigan & Ohio-1st mortgage, gold.··-········ ... 154 M i ddletown Unionville <I: Wate1· Gap-1st mortgage. 13 do do ·2d mort. guar .......... .... Milw. Lake Shore cl: West-Consol. mort., gold ....... 346 Income bonds (not cumulative) ................... Equipment bonds .................................. ·--· Michlgan Div., 1st mortg , gold (for $3,000,0UO> .. 7:S Ashland Division . 1st mortgn.g-e. gold.... . . ..... 40 Bt. Paul East & Grand Trunk, 1st mort., g old . ... . 56 M.ilwaiilcee cf: Lake Winnebago- I st mortgage, gold. t:i5 Income oondR, gold (cumulative) ... ..... .. ........ --·· Debentures, ~old ......................... . ........ .... Milwa1,1,kee & Northern-1st mortgage ............... 126 Bonds for $'3.000.000 c$2,155 ,000 are reserved) .. --·· M ine Bill cf: Schu11lkill Ha'Ven-Stock ..........•...•. 137 Mineral Range~St,,ck .. .·...............•...•..••..••. 1st mort (1or $ 100,<,00) coup . ..................... 1212 1 st mort., gold, on branch and extension ........ 412 Minneapolis cf St. L.-lst M., Min. to Merriam June. 27 93 1st mort({a~ Merriam Junction to State Line . . 1 st mortg., inneapolis to White B. Lake, g-1rnr .. 15 1st mortgage, gold, coup. (.Al. L ea to Fort Dodge) 102 Improvement m1dequip. mort . .................... 360 ·--- ---- 1879 1869 1870 i866 1872-3 1881 1871 1880 1 883 1866 1871 1881 1881 1882 18.-(4 1885 .. .. 1882 1882 1834 1880 1884 ..... 18'73 1885 1877 187 7 1877 1879 1882 $1,000 1,000 1,000 100 1,000 ·--· 1,000 1,000 1,000 1,000 .... 1:000 1.000 1;000 1,000 ],000 1;000 1,000 1,000 ..... . 1,000 1,000 50 100 100 &c. 1,000 1,000 500 &c. 1,000 1.000 l,OOOQ $500,000 640.000 70.000 491,200 1.000,000 424,000 .3,576,000 1 ,943,000 1,100,000 2,630,000 150,000 250,000 4,350.000 600.000 535;000 1,112,0GO 1,000.000 6 8 8 212 8 8 5 8. 6 6 g. 7 g. 5 6 g. 6 8 6 g. 6 g. 6 g. 6 g. 5 g. 6 g. 6 6 (1) 1,430,000 520,000 100,000 2,155,000 1,598,000 4,08:,900 128 000 160,900 100,000 455.000 950,000 280.000 1,015,000 2.000,000 I M.& s. N. Y., Union Trust Co. M.&N. do do l\I. & N. do do do J. & J. do do J. & J . do M.&N. do do M.& s . do do M.& s. do do M.& s. do do M.&N. None ever pa:d. M.&N. N. Y ., N. Y. Susi. & W. J. &D . do o M.&N. N.Y., N. Bk. of Com'rce M.&N. do do J. & J. N. Y., S. S. Sancls & Co. J. & J. New York. M.& s. N ew York. J. & J. N ew York A.gency. J. & J. Boston and New York. A.·&·o. J. &D. J. &D. 312 J. & J. 21g Q.-J'. J. & D8 5 A. & O · 7 g. J. & J· 7 g. J. &D· 7 g. .M:.&N. 7 g . J . &D. 6 J. & J. . .......... N.Y.,Mei-cii.Ex·ch.N.Bk New York City. Phila.M.H. & S. H. R.Co. N. Y., H. s. hes & Co, do do do do N.Y., Continental N.Bk. do rlo do do do do do do 1D09 Nov. l, 188 9 Nov. 1. 1890 July, 1885 Ju.ly 1, 188 6 Mn.yl, 1902-3 Mar. 1, 1931 Sept. 1, 18~ .I. Se~t. l., 189T Nov. J, 192 18 6 1896 May 1, 192 l! May 1, 1911' 1892 July 1, 192 4, Mar. ], 1925 Jan., 1913 July 1, 191 2 July 1, 191 2 April 1, 1904 JLw e 1, 191 0 June 1, 191 3 July 15, 188 5 Jan .. 1886 J·uue, 1888 Oct. I, 191 5 Jan. 1, 190 7 June 1, 1927 Jau. 1, 1907 June 1, 100 9 July 1, 192 2 Air Line RR., 115; Jol. &No. Ind., 45; GrandRiverVaUey, 84; J ack., 1883. 1834. Lan . & Sag-.. 295; Ka1. & So. Hav., 4 0: Det. & Bay City, 151; Sag. Ba:v $ $ & No. W., 55; Tol. Cfm. So. & Det., !\6; Can. So. Br. Co., 4 ; :M ich. Mid. Casll ............. ....... .................. . 50 0,686 48 9,651 & Can., 15; Canada So. branches. 99 : Sarnia Chat. & Erie, 7; Erie & Miscellaneous ..... ....................... . 52,086 Niagara, 31; tot al branches 994 miles: total operated, 1,491 milm,. · There are 121 miles of second track and 515 miles of side tracks. T otal assets .......................... . 44,883,536 4 3 ,6t0,455 L ·i abit ilies$ ft; ORGANIZATION, LEASES, &c.-The Michigan Central was charter ed in Atock . .................................... . 18,n8.204 ] 8,- 38,204 1846 and purcbased of t h e State of l\fichigan 144 miles of com- Bonds {see SUPPLEMENT) ......... . - .. . .. . 17.07R.OOO 1 5, 9 76.000 pleted road and completed the whole line, Detroit to Kensing-tou, in Accounts ....................... . 2 843.6 ri4 3 ,141 ,976 1852. Tht> D etroit & Bay City road was foreclo sed F eb. 12, 1881, and Dividendspayable , ............................... . 5o2,l4 i purchased for the Michigan Central. which l eased it and put a mortr age Income account . . ... ........... ........ . . ,i~ 5 ,C63, 5,784)275 on t he road. The other linrs d escribed above as leased are all held. by the l\Uchigan Central nominztlly under leases at :fixed rentals, but are Total liabilities............ . . . . . . . . . . . 44,883, 5-3(; 43,640,455 practically owned. The land grant came from the Jackson Lansing & -{V. 39, p. 722, 7 33; V. 40, p. 269; V. 41, p. ~;:$.) Saginaw company as stated b elow. In Nov., 1882, a close contract was Micltlo-an & Ohio.-Road completed Nov., 1983, from Allegan. made with Canada Southern for workirig its rvad by the Michigan Oen· Mich. , to °Dundee, Mich., 154 miles, U"ling the tracks of the Tolerto Ann traland the divi ion of net profits over au charges-one·thi..rd to Canada A.rbor & Grand Trunk. 22 milee, to Toledo, O. It was constrnct ed by Southern and two-thirds to Michigan Central. a _New Yol'k ·s. ndicate, and each suos0ription of $16,500 in cash reSTOCKS A.ND BONDS-The Michigan Central stock has remained at the ceived $15,000 1st mortgage oonds, 150 of preferred ancl 250 shares same amount siuce 1873. Prior to 1873 it was a regular 10 per cent common stock. Bonds iss ued at $15,000 per mile. Stoek is $2 ,500.000 stock. In 1 8 7 2·73 paid 5 per cent and 4 in scrip, but afterward paid pref. and $3,75 0,000 com. In Nov., 1884, the intn-est on the bonds no diVidond till 1878, and since then iITegular amounts. Since 1870 was passed and a receiver appointed. In Dec., 1R · 5, d ecree of foreclosd!Vidends have lJeen: In 1870-71, 10 per cent; 1871-72, 10; 1872-73, ure was rendered. (V.39, p. 522., 553; V.41,p. 392, 688.) 5 and 4 in scrip; in 1878, 2; in 1879, 3½>; in 1880, 8; in 1881, 612; in Middletown Unionville & Water Gap.-O wns from 1\-Iid· 1882, none paid; in 1883, 5 ; in 1884. 3. The range in prices of the stock dleto wn, N. Y., to Unionville, N. J. State Line, 13 miles. Is controlled has been as follows : In 1871, 114'@126; in 1872, 113W120; in 1873, 65 by N. Y. Sus. & West. by ownership of stock. Fo'..'morly leased to the Mid. @111; in 1874, 6812'@9512; in 1875, 53'@8214; in 1876, 34flg1i!651?; in of N ew Jersey and bonds guaranteed. Gross earnings in 1883-84, 1877, 355g1i!7414, in 1 878, 5812'll'75; in 1879, 73~'@98; in 1880, 75'@ $40,289; net, $15,340. Stock, $149,850. 13018; in 1881, 84!\i'@120; in 1882, 77'@105; in 1883, 77'@10018; in Mlluraukee Lake Shore & Western.-From Milwaukee, Wis., 1884, 51~1i!!:l412; in 1885, toDec. 18, 46~1i!79~. The Jackson Lansing & Saginaw l'ebt is assumed by Michigan Central, to Little Montreal River. 356 miles, or which 4 miles are leased • branches-Hortonville to Oshkosh, 23 miles; Manitowoc to '£wo Rivers: which also pays $70,000 p er year on the stock of $2,000,000; the pro• ceeds of J. L. & S. lands go to pay bonds, and in 1884 sales ameunted 6 mi~es ; Elan~ June. to Wau~au, 23 ~iles; ..Antigo to Malcolm, 11 miles; Momco to Rhineland er. 16 miles: Clintonville to Ocouto, 56 m ·les; total to 3,872 acres, leaving 317,126 acres unsold, and land notes on hand, operated, 491 miles. In 1 8 :"> was extended to A.sbland, Wis. This $396, 035. company was organized in 1876 as successor to the former company foreOPERATIONS, FJN.A.NCES, &c.-The Michigan Central paid 10 per cent closed in 1875. The com~any has $5,000,000 preferred stock, and. dividends regularly till 1873, but b ecoming liable ait0rward for heavy $2,000,000 common stock 1s•med out of $5,000,000 authorizerl. Preobligations on leased lines, the company suspended diVideuds. The ferred stock has a p r •ference to the extent of 7 per cent from net earnroad on through business is much affected by the competition between ings. The annual report for 1884 was given in V. 40, p. 451. In 1883, Chicag o and J)oints eastward, and by the rates on through frei~hts . gross receipts $1,063,605: net, $393,080. · In 1884, gross r eceipts wero An a rticle in thfl CHRONICLE, Vol. 37, p . 708, gave an exhibit Of tlie $1.116,378; net, $372, i5 5; interest, $285,444; surplus, $85,\113. (V. earnings of the Michigan Central and the Canada Southern for six years 39, p. 96, 296,553; V. 40, p . 28, 61, 451; V. 41, p. 685.J past, a nd the surplus yearly applicable to dividends. llIUuraukee & Lake Winnebago.-Owns from. Neenah to The statement fur first si>... months of 18 ~5, June partly estimated, Schleisrngerville, Wis. Built in 1882 and leased for 99 years to Wiscon• was in V. 41. p. 23, as follows: sin Central at 3712 p e!' cent of gross earning-s as rental; but after $175,000 per year is received the balance of net earnings is to be equally Jan . 1 to June 30. 1884. 1885. Gross earnings ..........•.......•••......•. $5,603,500 $4,973,000 divided. The $1,000 0 00 debentures were authorized to be issued as Operat ing expenses .•• ...•...•.............. 4,216, 500 3,836,000 reqmr ed for improvements, and they are convertible tn any coupon day into preferred stock; the lessee pays inter est on them till 1894. Pref. Net earnings .................. ~ ......... $1.387,000 $1,087,000 stock, 6 p er cent cumulative, $780,000; comrnvn stock, $520,000; rar Deduct interest and rentals . . • . . . . . . . . . . 1,280,000 1,320,000 of shares, $100. Milwaukee & Northern.-Owns from Green Bay, Wis., to l3ala1Ilce for s•ock. ........ .•. ... ..... .•..... $107,000 ....... . Schwartzburg, Wis., 104 miles; branches-Menasha and Appleton to Deficit from amount of first charges . . • . . . $233,000 Hillbert,Wis., Wisconsin & Michigan Railroad, Green Bay to Pike River. and Marinette branch; total operated. 219 miles. Contrarts for u se of The annual report for 1884 in V. 40, p. 567. had the following: Chic. M. & St. P. track, 9 miles, into Milwaukee. The stock is $2, 155,Earnings1883. 188-t. 000. On June 5, 1880, foreclosure was made and road sold for Passenger ........ ·········-··............ $!,007,E48 $3,464, 560 $1,500.000. It was leased to Wjsconsin (A~ntral till A.ug., 1882. Freight........ . ... ....... .... .. .......... 9,472,366 7,620,887 Gross earning? in 1883-4, $511,982; net, $165,636; flxed charges, Mail, express, &c.... . •. . . . . . . . . . . . . . . . . . . 529,853 573,630 '1,149,1 20; surplus, $32,823. Gross earnings in 1884-5, f!:541,20') i net, T otal gross earnings............... 14,009,767 11,659.077 $157,566 ; rentals, taxes and mterest, $153,186; surplus for year, Operating expenses..................... .. 9, 741,63~ 8,959,132 $4,380. (V. 41, p. 307.) Mine Hill & Schuy~lli. Haven.-Own.s from Schuylkill Haven, Netearnin~s ... ················-····· 4,268,129 2,61J9,9J5 Per cent operating expenses to earnings. · 69·53 76·84 Pa., to Locust Gap, Pa., with branches, 13712 miles Road was leased May 12, 1864, to the Philadelphia &; R eading Railroad Co. for 999 ye!;l,rs INCOME ACCOUNT. at a rental or $326,552 p er y ear. Ther e is no debt, and 8 per cant divi1883. dends are paid. Operations are included in lessee's r eturns. 1884. Receipts$ $ Mineral Range.-( See Map.J-Houghton, Mich., to Calumet, Mich. N et earnings .. • . - .. . . .•. ...•............. 4,268,129 2,699 .945 15¼ miles; branch, Franklin Station to Franklin, 2 m ; total 17-¼ miles. Interest and dividends........ ........ .. 67,701 79,8 58 Opened Sept., 1873. Stock is $U28,000, on which divid~nds of 10 p rr T otal income .......... •........ . _ 4,335,830 2,779,803 ceut per annum have been regularly paid sinc .1 the ope uing nr Dishiwsements$ the road. In 1884 gross earnings were $124,892; net, $47,41-i3; surpl, ,d $ Rentals paid.... .. .... .. .. ............... 184,310 184,310 over i nt er est, diviuends, &c., $19,115. Total surplus Sept. 1, 188 .:,, Interest on debt...................... .... 2,249,106 2,454,292 $120,000. (V. 41, p. 7 2 l.) Canada Soutllern {13 of net)....... . . . . . . 611,i'>71 _2 0,448 Minneapolis & St. Louis.-Owns matl. line, Minneapolis 1o Dividends (6 p. c.l. .................•. .... 1.124.'Ul2 A.ngus, 260 miles; Pa iti.c Division, Hopkins to Morton, 92 miles; Ka'•• Total disbursements ..... ······-·· · 4,16~.~7ll 2,65lJ,050 Branch, 2 miles ; Lake Park Branch, 112 miles; total operated, 355 '·! Balance, surplus...................... . ... 166,551 *120,753 rriiles. In 1883 acquired the Minnesota Central Railroad, 66 miles. l.u * The balance to credit of income account Dec.31, 188 !, was $827,293. June, 1881, a consolidation was arranged with $2,000,000 of stock. The bonds of the $1,100,000 mort. (1877) , numbered from 1.101 to GENERAL BALANCE DEC. 31. 1,400, for $500 each ($150,000 in all), are guaranteed by the Bur. Cedar 1883. Rap. & No. RR. The bonds on the 15 miles were issued by the Minn eapolis 1884. Al6ets& Dulut h Railroad before it was absorbed· by this company. Preferred $ $ Construction ...•........... ....•........ .. 40,653,061 39,667.460 stock of $8,000,000 is authorized aI:.d $4,000,000 issued; common stock, Inve!tments .. _.. _•.......•...•...•....... 638,700 638,610 $12,000,000 autbo1ized and $5,754,100 issued; par of both $100 per Fuel and supplies .•••.....•••.......•..... 635,850 605,130 1hare. The projected Southwestern extension runs from Fort Dodge. A ccounts receivable .........•.....••...•. 1.666,493 Ca., towards Kansas City, Mo., '-{25 miles, with a t>ranch to Council } 2,455,239 { Uncollected earnings ..•..••....•......••. 521,025 Bluffs, 140 miles. R. R . Cable, Pi :sident, Chicago. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD STOOKS AND BONDS. MINERAL RANGE RAILWAY AND ITS CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis (VoL. XLI. D ECEMBER, RAILROAD STOOKS .A ND BONDS. 1885.] Subscribers "Will conCer a great Cavor by giving Immediate notice oc any error discovered In these Tables. r INTEREST OR D IVIDE NDS. Bonds-Princl_ _ _ _ _ _ _D _E_S_C_R_IP_T_I_O_N_._ _ _ _ _ _ _ I Miles D ate Size, or Amount p al When due. F or explanation of column headings, &c., see n otes of of Par Outstanding R ate per When Where Payable, and by Sto~lcf-L ast on first page of tables. Road. B onds Value. Cent. P ayable Wh om. Dividend. ----- Minneapolis & St. L01tis -( Oontinued)Mortgage on Southwestern extension _- -.. - -. . . . . 53 1 880 2d. bcls., income, 5 & 10 yrs. (A. L ea to Ft. Dodge) 172 1 881 1st m ortgage, gold, Pacific Extension -... -... -. . . 9~ 1 881 Wis. M inn . &Pa,cific.-lstmortg- . ... -···-···--·- 20 v 1 884 Mississivpi & Tennessee-lat mortgage, series "A"_ 100 1 877 1st mortgage, series "B," (a second lien)_ .. _... -. 100 1 877 Missouri Kansas & Texas-Stock __ . . ___ . ___ .. - -.. -. -- 1,441 . --· lstm., gold, sink. fund, on road and land (U .P.S.Br) 182 1 868 1st mortgage, gold (Tebo. & Neosho)_ . . __ ... _..... 100 1 870 Consolidated mort!Jage, gold, on road and land_.. 786 1871.3 2d m., ~icome, excnangeable for genl. m. 5 per ct. 786 1 876 Boone-v1lle Br1d~~ uonds, gold, guar. __ . _.. ___ .. ___ __. . 1 873 General consol. M.., gold ($7,352,000 are 5s) ____ ... 1,370 1 880 East Line & Red River ..... ··--···--·-· -···· ······· 1 880 Hannibal & Central Missouri, 1st mort~age _____ .. 70 1 870 Internat. & Gt. North'n, 1st mort., gold_._ .. ____ . . 776 1 879 do 2dmortgage __ ··-·-·---·-······--··· 776 1 881 do Colorado Bridge,boncls_ ... -··· -··· 1 880 Missouri Pacific-Stock_· -·-.-·_-·· -.... ···- · · ..... -- 906 ---· 1st mortgage, gold (Pacific RR. of Mo.)_ .••. __ _... 283 1 868 2d m ortgage (s. f. $50,000 per annum/_ ... __ .. . . . 283 1 871 Real estate (depot) bonds __ ...... -- -- - - -- -- --- .. . 1 872 Debt to St. Louis County (no bonds)_ . __ .. ___ . . _. . . .... 876 880 Caron delet lranch, 1st mortgage_. __ ... . -. --. . . . . 15½ l 873 LeavenworthAtch. &N. W., 1st mort., guar- . ... 21 1 870 Bt. Louis &Lexin~on, lstmort_ .. . --··· -···-····· .... 1 880 Bt. L. Iron Mt. & i:::;o., 1st mon., coupon....... . ... 210 1 867 t~:;grft~e oiil: ·ior -$30,ooo~ooo ·{coup: or. reg.):: i~8 i $1,000 1,000 1,000 1,000 1,000 New York. $636,00 0 7 J &D. Dec. 1, 1910 500.000 .T. & J. N.Y., Continental N .Bk. Jan. 1, '86-'91 7 1,382,000 6 g. A. & 0. do April 1, 1921 do 3,080,000 A. & 0. ~ ew York, Office. 6 Oct. 1, 19 34 A . & 0. N. Y" Bank of N. Y. April 1, 1902 !l77,0QO 8 1,100,000 J. & J. do do July 1, 190 2 8 46,405,000 ..6 .g. {- 1·J. N. Y., Compan:ls Office. Jau·.:-i s o9 1,000 2,078,000 1,000 349,000 7 g. ., . ..,.D. do do June, 1903 1,000 14,770.000 7 g. F. & A. N.Y.. Mercantile Tr. Co. 1904-1906 500 &c. 1,183,000 A. & 0 . N. Y., 195 Broadway. April 1, 1911 6 1,000 898,000 7 g. M.&N. do do May 1, 1906 1,000 19,688,000 5 &6 g. J. &D. do D ec. 1, 1920 do 440,000 J . &D. do do 1900 6 768,000 7 g. M.&N. do May 1, 1890 1~000 do 1,000 7,954,000 6 g. M.&N. do do Nov. 1, 1919 500 &c. do 7,054.000 M.& S. do 6 1909 225,000 M.&N. do 1920 7 do ---· 100 30,000,000 Q.-J. New York, Offi ce. Jan. 2 , 1886 134 1,000 7.000,000 6 g. 1". &A. N.Y., Mercantile Tr. Co. AU"'., 1888 1.000 2,573,000 7 J'. & J. N.Y., Mercantile Tr. Co. July, 1891 500 &c. do do 800,000 M. &N. May 1, 1892 8 St. Louis. 700,000 mont'ly Feb., 1885 7 ---· 1,000 3,828,000 M.&N. N.Y., Mercantile Tr. Co. Nov., 1906 7 1;000 10,700,000 6 g. M.&N. do do Nov., 19 :lO 1,000 245,000 6 g. A. & 0. do do Oct. 1, 18!l3 1,000 190,000 do do A . & 0. Oct. 1, 1889 7 500&c 650,000 F . &A. do do Aug., 19:W 5 1 ,000 do 4,000,000 F. &A. do Aug. 1, 1892 7 +,~gg j -------------------------'-r The Wis. Minn. & P acitl.c, Red Wing, Minn., to Eagle Lake, 84 miles . , Disbursements1882. 1883. 1884 . and M_orton to Watertown J unction, 121 m~l!s, is leased and,, operated Interest O'tl bonds . ...... .. . $2,492,517 $2,37i3,822 $2,439,618 by this company. Common stock, $2,0.:,o,000; pr ef., $v,0 80,000. Taxes rentals &c 19 1,059 479,200 479,661 Charles F. Hatch, President, l\finneapo1 i;,. ' ' -· · · -· · · · · - - - - - - - - - - - - ----In 1883 gross earnings were $1,651,929; net, $336,956. I n 1884, T 0 t l di b t $2,569,881 $2,971,717 $2,919,279 gross earnings, $1,7;j4,026 ; net $482,90 0; interest pa,y ments, $482,a s ursemen s .. . . 009; balance,$891. (V. 41,p. 132.) B alanceforyear .. ....... . daf.$97,610 sur.$371,497 sur.$508.144 1'.llsslsslppi & Tennessee.- Owns from Grenada, Miss., to Mem• INTER~Al'IONAL & GT. NO. INCOME ACCOUNT. p his, Tenn., 100 miles. Capital i:!tock, $825,455. D ebt was consolidated Receipts1882. 1893 . 1881. a.s above in 1877. A majority of stock was sold in April, 1 884, t o R. T . Net earnings .•.... ..... .. -· $1,006,900 $954,252 $6 'l4,722 Wilson of the L ouisville Ntiw Orleans & Texas RR E a rnings for three Other r eceipts __ . . _.. . _.. ... _ 67,072 34,657 28,971 y ears past were: 1881·82, 0 -ross. iB-106.651; net. $152,4.92; 1882·83, - -- - - - -ln'OSS, $522,101; net, $260 ,1:l35; 1883·84, gross, $545,016 ; n et, $250,Total net incom e..... ... $1,073,972 $988,909 $653,693 446. (V. 39, p . 653 .) DisbursementsMissouri Kans as & Texas .-( See Hap .Missouri P ac-ific)-LINE I nterest on bonds.. . . . . . . .. . $1,119,657 $903,785 $ 914.,417 OF ROAD-Hannibal, Mo., to Denison, Tex., 576 miles; branooes, Holdens, T axes, rental, &c_.... . ..... . 65,688 116,417 14.5 ,290 Mo ., to Paola, Kan., 54 miles; Parsons, Kan., to J unction City, Kan., 157 ----- - - ---- -----miles; Whitesboro, Tex .. to Ft. Worth, Tex. (leased), 71 miles ; Fort Total disbur.3ement s . . _. $1.185,345 $1,025,202 $1,059,707 Worth, Tex .. to T aylor, Tex., 163 miles; Denison. Tex., to Gainesville, B 1 f d f $111 373 d f $36 293 d f $406 014 T ex.,41 miles;DenisontoMineola,Tex., 10 3 miles;Denton, Tex.,to aance oryear_···-· · ·-- · - e .. · e. , e . , D allas, Tex., 39 miles; Miller J unction, •.rex., to Belton, 7 miles; Trini- -(V.!39,p.128; V. 40, P• 120, 337,!5 0 6, 625; V. 41, p. ti:>7 .) ty, Tex., east, 67 miles ; coal b.rancbes, 8 miles; Jefferson, Tex., to Mc• llllssourl W a clfic . - ( See .Map.). - LINE OF ROAD - Owns main Kinney, Tex., 155 mih,s. 1'otal, 1,44 l miles. International & Great line from St. Louis, l\10., to Atchison, Kan., 330 miles; branches Northern , from Lon "'view, Texas, to Houston, Texas, 232 miles, and 660 miles; total 990 miles. In May, 1 81, the St. Louis Iron Mon ntain P al estine, Texas. to faredo, Texas, 415 miles; branches-Longview to & Southern was taken in. July, 1883, the mileage was a follows: From Jarvis. 29 miles; Houston to Columuia, 50 miles; Phelps to HuntsYille, St. Louis to Texarkana, Texas Line, 490 mile ; branch lines, Mineral 8 miles; .'.\1ineola to Troup<', 4fl miles; leased--Round Rock to George- Point, Mo., to Potosi, Mo., 4 miles ; Bismarck, Mo., to Belmont, Mo., 121 town, l O miles; · Henderson to Overton, 16 miles; leased Gal. H. & H. miles; Poplar Bluff, Mo., to Bird's Point, Mo. (Cairo), 7 4 miles; Gurdon, road, Houston to Galveston, 50 miles; total operated 826 miles. Ark., to Camden, Ark., 34 miles; Knobel to Fonest City, 97 miles; ORGANIZATION, HISTORY, &c.-Tne M. K. & T. Company was organized Forrest City to H elen a, 43 miles ; Newport to Batesville, 27 miles; April, 1870, and emuraces by coni-oliclation the Union Pacific Southern Neelyville to Doniphan, 20 miles; total, 906 miles. B r anch, the Tebo & Neosho and other minor companies. I n 1874 the Han• ORGANIZATION, LEASES, &c.-The Pacific RR. Co. (of Missouri) WQII ni bal & Central Mo. was p1m:.hased. The company made default on its incorporated under charter dated March 12, 1849, and road opene,l tCll consolidated bonds in Dec., 1873, anct was operated by a Receiver from Kansas City in Octob r , 1865. The company r eceiv ed a loan from tht!l Dec. 30, 1874, to July 1, 1876. when the Union Trust Uompany of New State of Missouri. York took possession. On Dec. 1. 1880, the company took possession The Pacific Railroad of Mo. was sold in foreclosure of the 3d mort"'age of its property, payins- the overdue coupon . The company had a land Sept . 6, 1876, for the nominal price of $3,000,000, to C. K. Garr1 .. on grant from the Unitect States estimated at 817,000 acres and from the and others, and a n ew company organized with a stock of $800,0t>O. State of Kansas 125,000 acres. There is also a ~rant in the Indian This foreclosure was afterwards contested l>y suit, but all litigati .. n was Ter ritory of 3,622,400 acres subject to the extrngu.ishment of the settled in April, 1885. The present company was a consolida,rion in Indian title. The Booneville Brid~e Company is a separate organiza• August, 1880, embracing the l\fiss?uri }:'acifl.c., St. Louis & Lex:, Ka11sas tion, and earns interest and proportion for sinking fund. City & East. and Lex. & South. m Missouri; and tbe St. Loms Kan. & At a meeting of stockholders May ur, 1881, a lease to the Missouri Ariz. and Kan. City Leav. & Atch. in the State of Kansas. Pacific for 99 years was ratified O.Jl terms following: That the Tl.le St. Louis Iron 1ountain & Southern stock was taken up with les ee operate tlle road and pay the ob1igatory mortgage interest, pay• Mo. Pacific in May, 1881, on the basis of three shares of Mo. Paci lfr for ing- over the balance t.:> the Missouri Kansas & Texas Company. If there fonr shares of Iron Mountain, and the St. Louis & Iron 1\1. st,wk ii is a deficit in income the lessee may advance money to pay interest, or h eld by Missouri Pacific. in case of failure to make such advance the Missouri Kansas & Texas STOCK A.ND BONDS.-Under the new ng'ime the payment of divi de nd• can resume possession of its road. was begun on the present stock in 1880, in wWch year 112 per cc11t w a11 The International & Great Northern Railroad was acquired by Mo. paid. Dividends since were as follows : in 1881, 6; in 1882, 614 ; in Kan . & Tex. in May, 1881, ·oy an exchange of two shares of Missouri 1883, 7; in 1884, 7, . Kan sas & Texas stock for one of International & Great Northern, Theconsolidatedmort~ageaboveisfor $30,0QO,OOO-trus~eesJo 1111 F. ~~~ t~t~~·aTio~;t&·ttr~~tck:J~1 ~~ t~ea~~:Iso1fd! ~f0 ~· ~ Dillon and Edward D. Aaams. The bonds are issued to retire till" outH ouston & Great Northern Railroad and the International RR. of Texas standing bonds of the consolidated company, as above given, amo11.itmg to $20,184,000. The remaining $9,816,000 are issuetl as may llt> 1·e-on Sept. 22, 1873, The company made default on its bonds, and a re- quired for finishing, constructing, purchase, acquisition, &c. oeiv er was appointed in April, 1878. Sales in foreclosure were made OPERATIONS, FINANCES, &c.-The earnings and income acwount bl'low J'uly 31 and Oct. 14, 1879. I n the reorganizat.ion the lands of the com- are for the Missouri P acific and its branches only (9 90 miles); for uotpany, amounting to about 5,000,000 acres, were conveyed to t h e second mortgage bondllolders in full settlement for their lien on the road, withstanding the merger of St. Louis & Iron Mountain stock and 1,·a..._, . of which was thereby discharged, and the New York & Texas Land Com- Missouri Kansas & T exas, the opr,rations of all the roads havt· IJ c•n pany was f ormed to manage the lands. kept separate and are so reported. The Missouri Pacific is regal'd1·.i as the main company of the whole Southwestern System of Gould 1·11 , , ls, STOCK AND BoNDs.-The stock has ranged as follows since 1877, and on its stock only are dividends paid. 1 viz.: In 1878, 2@718; in 1879, 53s1v3534; in 1880, 2818'@49 4 : in 1881, The annual report of Mo. Pacific for 18 4 was published in the<; , •N347e1v54; in 1882, 263s1v4212; in 1883, 19121v34 7e; in 1884, 9 ¼@23 14; ICLE, v. 40, p . 336,506. The earnings, income account and baliwce in 1895 to D ec. 18, 14~@3718 sheet, were as follows: The general consolidated mortgage is a.t $20,000 per mile on all road 1882. 1883. 18 · ; . built and to be built; of which $18 217,000 is reserved to take up first consol. and prior bonds; $447,000 for the East Line & Red Rtverbonds. Miles of road operated D ec. 31_. . . 990 990 !m.·) Therewere$10,000,000reservedtotakeupincomemortgagebondsand Passengers carried(No.>-···-···-- 1,472,311 1,567,683 1,7:'). G2 scrip, and in Nov., 1883,an exchange was offered to the holders of Income Freight carried (tons>-. . . .. . . ..... 3,19:1,353 3,270,721 2, ~:..1 .1 ., ~4 bonds,in these general mortgage bonds, bearing5percent interest, at Gross earnings · -·--···· ·· ····-····- $3,09-1,618 $9,153,731 $8,T:- ,1i28 par, and to scrip h olders at 60 per cent of the face of their holdings. Operating expenses ... . .. .. _. . .. . .. 4,324,888 4,978,465 4,4c!IJ ; 7 There are $32,000 of Hannibal & Cent. Mo. 7s 2d mort. ( M.& N. bonds) - - - · _ - · - - - ____ _ yet out, due in 1892; and also a small amount of old 8 per cent income Net earnings .. . . . ... -·._···-···· ... $3,769,730 $4,175,266 $1,~;~,i . .H bond s of International & Great Northern, exchangeable into Int. & G. P eret. of op'at'g exp'es t o earn'gs _ 53·44 54·39 .. J • 18 N. 2d moriage bonds. The I. & G. N. also guarantees $2,000,000 of Galveston ouston & Henderson 1st mortgage 5 per cent b onds. ReceivtsI 'COME c c~UNT. ] )-,H 1883. 88 OPERATIONS, FINANCES, &c.-Since the road went into the Gould SYS· N t - · $3,769,730 $4,~. 1.730 $4,175,266 tern the earnings have increased, both gross and net. The income e earnmgs....... ·-·· · ·-· 2 .. , . ~2 439,661 2 5 5 7 nd account fo r 1882 showed a deficit of only $97,000 after paying all Divide s, &c_ · · · · · · · - -- · · · · ____o_o_,_ _ charges for interest, but not including interest on the income mortgage. $1, $4,614,927 $4,470,282 Total net income . . ... . •. In 1883 gross earnings were much larger, owin_e_ partly t o the heavy Disbursementscotton crop of 1882 in Texa . Annual report in v. 40, p. 506. $1,79 00 Tnterest on bonds . ....... . .. $1,598,390 $1,667,880 l\IISSOURI KANSAS & TEXAS INCOlIE ACCOUNT. 2,( ~ . ' 115 Dividends paid...... . .... .. . 1,946,419 2,097,348 Receipts1882. 1883. 1884. 1 Rate of dividend _···-·· .. -·. 6 4 7 Net earnings_ .....•......•.. $2,265,478 $3,197,007 $2,970,004 Taxes, rentals,&<' •·••···-·· _ _ 348,068 ____420,296 , .l6 Dividends, &c ............ -.. 206,763 146,207 457,419 Total il.~sbur ·ements.... $3,8H2,877 $4,185,524 $4.~ 1 Total net income .••...••• $2,4'/2.24 $3,343,214 $3,4.27,423 Balance ~r .7ear_... .••. . . . . sur.$577,405 sur.$429,403 de!. :r- 1 , 11 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ~~~.:1 \i'fe f ·----·---·--··-r---~-..__. ,1cJton I fJ I'u . j -Bil i : MAP OF THE MISSOURI PACIFIC RAILWAY, AND ALLIED LINES w ~ 0 0 E-i w o Llano II j Esfacado j 1 l ot St k d Plain a ~ ..,.. . (i .. ) I, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -~~~~~ __ J_Jr.:;.. i .,,... ! e.i:obab1 \ I \ \x I j CH I i i ~ ~-----·- i. DECEMBER, :RAILROAD STOOKS Al,D BONDSr 1885.] 61 Subscribers "7111 confer a great Cavor by giving hnmedlate notice oC any er1·or discovered In tb.ese Tables. Bonds-PrtnciDESCRIPTION. INTEREST OR DIVIDENDS. Miles Date Size, or pal, ,Vhen Due. Amount For explanation of column beadings, &c., see notes of of Par Outstanding Rate per When Where Pahable, and by Stocks-Last on :first page of tables. Road. Bonds. Value. Cent. Payable W om. Dividend. Missou1·i I'act.,c-( OontinueaJSt. L. I. M. , S., 2d M .. gold, coup., mad. be reg .. _. do do do do do Ark. Branch, lat ::no~t., gol , land gr-· Cairo Ark.& T., lat, old, cp.or reg . .... Cairo & Fulton, 1st, g., on road & land .. Gen'l consol. M. (for $32,036,0001 .... } do supplemental, gold Mobile <I: 0frard-2d mort., end. by Cent. Ga. RR .. 3d mortg-. bonds .................................... M obile cl: Montg.-Stock ............................... 1st mort. bunds bi L. & N. RR. Co ................ Mobile cl: Oh-io-Stoc ($10,000,0GO) ................. l at mortgage, gold ............. . .................. l at mortgage, extension, gold ...........••.......•. 1st pre:I'. inc. and a. :I' debentures, not cumulative 2d do do do do do 3d do do do 4th do Montgomery cf Eufaula-lat mortgage .............. Montpelie1· <I: Wells R·iver--Stock. . . . . . . . . • . .....•.. . Morgan's La.& Texas-Stock ......................... 1st mort., gold (N. O. to Morgan City) ............. 1st mortgage, Alex. Extension, gold . . . . ......... N. 0. Opelousas & Gt. Western, debt assumed .... Morris & Essex--Stock ..........•..•.................. l at mortgage, sinking fund ..•.......•...•...•..... ~~~~~~:lt\oii<is:::::::::::::::::::::::::::::::::: Gen. m. & lat on Boonton Br. &c. (guar. D.L.&W.) Consol. mort. (for $25,000,000) guar. D. L. & W .. Special real estate mortgage ....................... Real estate terminal mort. (guar. D. L. & W) ...•. --- --- 310 1872 $1,000 99 1870 1,000 71 1872 1,000 304 1870 1,000 1881 1,000 907{ 1881-2 1,000 85 1869 1,000 ..... 1877 1,000 180 100 .... 528 472 55 ... .. ---· .... ·--· SL 38 . ... . 102 157 80 132 84 84 ..... i879 1883 1879 1879 1879 1879 1879 ---....... 'ioo 1,000 1,000 . ... .---... ..... -~50 .. .... 1,000 1,000 .... ··50 i864 500 &c. 1866 500 &c. 1,000 -~ii Var'us 1,000 1871 137 1,000 .... ··-- 1878 1880 ~~:5 I 1882 1:000 GENERAL BALANCE DEC. 31. Assets1882. 1883. 1884. Cost o:I' road and equipment ....... $39,298,901 $39,950,939 $40,618,132 Investments in stocks and bo"Qds .. 20,856,312 22,324,316 21,770,077 Materials and supplies on hand.... 624,117 1,185,718 1,094,632 Cash on hand . .. ... ................. 1,238,990 779,050 577,844 Uncollected earnings . . . . . . . . . . . . . . 202,579 731,661 2,343,359 Advances to railroads........ . . . • . 709,441 . . . . .. . . . . _.. _.. - - - - - -- - - - - ------ Total assets ......•............. $62,930,340 $64,971,684 $66,410,094 Liabilities- 8tock. _............................. $29,958,900 $29,962,125 $29,974,800 Funded debt. __ ................... 25,379,000 26,895,000 28,895,000 Interest due and accrued......... . 468,972 496,433 504,693 Vouchers :l'or Dec. & bills payable. 2,395,920 2,430,651 2,150,806 Miscellaneous . _....... _............ 92,386 122,911 ..... _. Income account.................... 4,635,162 5,064.564 4,834,794 -------------- Total liabilities ..•... __ ........ $62,930,340 $64,971,684 $66,410,094 ST. LOUIS IRON MOUNT.A.IN & SOUTHERN.-This company defaulted on its interest in 1875 and finally made a compromise with i tA liondholders, issuing income bonds :Cor overdue coupons. The company afterward offered to exchange these for the new 5 per cent mortgao-e bonds, and all are reported as exchanged. There are also $73,000 or oYd income 8 per cents of Cairo & Fulton. The Mercantile Trust Co. of N. Y. is trustee of the general consol. mortgag-e. The stock is all held in the treasury o:I' the Missouri Pacific R ailway Co., having been retired in May, 1881, by the issue o_f three shares of Mo. P ac. stock for four of St. Louis & Iron Mounta.i n. The sales of land in Arkansas on which tlle Cairo & Fulton bonds have a liPn are given in the report for 188-t as 34.242 acres for $115,464 (incl'g lots). Lands yet unsold, 895,652 acres. The report for 1884 was published in the CHR01''ICLE, V. 40, p. 506, and the income account was as follows: INC0111E ACCOUNT. 1882. 1883. 1884 _ $7,582,209 $7,904,683 Gross earnings ........... . $ 7 , 451 , 897 Receipts$3,735,622 $3,690,120 Net earnings .......... ..... . $3,464,599 102,8!:)2 }15,054 Other receipts ..........•... 44 , 727 Total net income .....•.. $3,838,514 $3,785,174 I:aterest on bonds .......... . Tuxes, br'ge and car ex., &c. $2,248,979 499,663 $2,259, 193 479,486 $6,000,000 2,500,000 1,450,000 7,600,000 10,353.000 3,311,000 261,000 800,000 2,950,800 2,677,000 5,320,600 7,000,000 1,000,00J 4,893,000 1,SM,000 600,000 900,000 1,500.000 800,000 5,000,000 5,000,000 1,477,000 251,716 15,000,000 5.000,000 2~999,000 284,000 4,991,000 6,557,000 1,025,000 2,220,000 7 g. 7 g. 7 g. 7 g. 5 g. ~ g. 4 3 6 .•6.g. 6 g. 7 7 7 7 6 2 16 7 ~ g. 312 7 '7 7 M.&N. New York or London. J. &D. N. Y., Mercantile Tr. Co. J. &D. do do J. & J. do do A. & 0. do do A. &O. do do J. & J. N. Y., Nat. City Bank. J. & D . do do N. Y., L. & N. Office. M."&.N. --·---·--0 0 J. & D ..N.Y. Farmers;L'n& Tr. ~-Jan do d@ early. N.Y., 11 Pine Street. Yearly. Last pd. 2 p. c. in 1881. None yet paid. Yearly Yearly. N. Y., l l Pine Street. J. & J. N.Y., Nat. City Bank. Boston. .... May 1, 18i17 June 1, 1895 June 1, 1897 Jan. 1, 1891 Aprll 1, 1931 April 1, 1931 Jau., 1889 .Tune, 1897 Nov., 1885 . May 1, 1931 ·i; Dec:. "i927 July 1, 1927 } Redeemable only by sinking fund • July 1, 1909 m Dec., 1884 April 1, 1918 N.Y.Bk.ofStateofN. Y. Jul;v: 1, 1920 do do April 1, 1889 N. Y., Del., Lack & W. Jan. 2, 1886 May 1, 1914 do do Aug. 1, 1891 do do <10 Jan. 1, 1900 do Oct., 1901: do do do do June 1, 1915 A.·&·o. N. Y., Company;s Office J. & J. A. & O. J. & J. l\:l &N. F. &A. J. & J. A. & O. J. & D. 7 7 7 4¼&5 J. .&.. J. N. Y., Del. Lack. & w. Juii"i',' "i912 the stockholders' meetings upon the majority o:I' the stock of the Mobile & Ohio Railroad Company, the power to vote upon which is irrevocably with the Farmers' Loan & Trust Company, until the extinguishment of said debentures. ·.rhe capital stock authorized by the charter is $10 ,000,000, or 100,000 shares o:I' $100 each, of which there have been issued 53,206 shar es. The debentures are secured by a deed of trust oi the lan d. about 1,143,222 acres, and receive 7 per cent, if eamed. The Cairo Exten sion bonds were exchanged ia. 1884 for the M. & 0~ Extension mortgage bonds due 1927. In August, 1881, 7 per cent was declared on 1st preferred incomes; also 2 per cea.t on 2d incomes. In August, 1882, 2 per cent on the first preferred incomes; in 1883, 3 per cent; in 1884, 5 per cent; in 1885, 312 per cent. Gross earnia.µ-s for three mo :Jths :l'rom July 1 to Sept. 30 were $391,795 in l 83 ' , against $4 33,599 in: 1884 ; net $43,797 in 1 885, against $55,324 in 1884. The report for 1884-85 was published in the CIIRONICLE, V. -11, p. 418, and sto.ted that t o the railroad war~, and comequea.t low rates. could be a1tributed the loss in revenue with an increase of tonnage during the. winter. "The d ecrease in be th tonnage and revenue during the othermonths can be accounted f, r by the short cot ton cro_p and the de~1ression in business gener ally." * k "The increase in the passenger traffic. consisted entll'ely o r throu~h travel and cbiefiy of visitors tu the N. Q _ Exp osition, who w ere earned at extr emely low r ates. 'rhe number of tllrongh passeogers was 16,994 greater than the previous year, anti the increase in milea~e was 5,924,285, at a little more than one cent per mile, malling tbe m crease m the revenue therefrom $53,374. The local travPl def'reased 1 2,173 pa'lsengers, with a decrease, however, in mileage of only 93,640 mites; but with a decrease of $32,573 iu revenu.ep which was due to the reduced rates from local point,, to New 01·Jeans." Op erations for fou t· years ending June 30 were: 1881-82. 1882-83 . 1883-84. 1884-85. $ $ $ $ Total gross earnm gs .. . 2,164,274 2,271,058 2,278,917 2,101,025 O_per. expenses & t axes ___1_,6_02_,_1_4_5 _1_,_6_41_,024 ___1_,5_4_7_,4_6_7 _1_,_576,~~ Net earnings . .... ...... . 562,129 630,034 731,450 524,839 rnfi:~!ri~n~~tt-bonds Interest on incomes .... 456,000 106,000 456,000 159,000 471,200 265,000 492,400 --------~--------------. . . .. . 562,000 615,000 736.200 482,400 $3,509,326 Total interest Sur. 129 Sur. 15,034 Def.4,750 Sur.42,439 $2,206,854 Balance ..•.. _... _... . ... 554,093 -(V. 39, p. 22, 381, 522, 552; V. 40, p. 182, 28 ' , 304, 685; V. 41, p - - - - - - - - - -51, 76,356,418, 473, 6l2, 720.) Total disbursements.... $2,74.8,642 $2,738,670 $2,760,947 J.l.lontgo1nery & EuCaula.-Montgomery to Eufaula, Ala., 80 Balance for year . _.......... sur.$1,089, q72sur $1,046,495 sur.$748,379 miles. '1'he road was foreclosed May I, ltl79, boug:ht by W. M. Wadley, (V. 39, p. 11, 48, 128,553; V. 40, p. 28, 182,336,481, 506, 508; V. aud the present company organized. Operateu under contract by Cent. RR. of Georgia. Stock is $6·. !0,000. Gross earnings year ending 41, p. 24, 77, 356.) Mobile & Glrard.--Owns from Columbus, Ga., to Troy, Ala., 84 June 30 , 1884, $299,470; net, $90, 763-. Div. of 10 p. c. paid in Apl., '83. miles. Common stock, $987,164; preferred stock, $279,1:JOO, and $5,080 lUontpeller & Wells Kiver.-Owns from Montpelier to Wells Pike County stock. Se~ond mortgage bonds are endorsed by Central River, Vt., 38 miles. Reorganized January, 1877. D. R. Sortwell, RR. of Georgia. There are also $19,000 3d mort. 6 per cent bonrl", due President, East Ca mbridge, Mass. Gross earnIDgs for y ear ending June 1, 1897. In 1883-84, gross earnings, $241,670; net, $49,686. 1n March 31, 1885, $92,814; net, $17,774. 188-1-85, gross earnings, $224,297; net, $46,561. Morgan's Louisiana & Texas Railroad & Steamship Co.Mobile & lliontgoJD.ery-(See map Louisville cl: Nashville)- The road owned is from New Orleans to Cheneyville, 204 miles; Owna from Montgomery, Ala., to Mobile, Ala., 180 miles. The branches, 55 miles; Cheneyville to Alexandria (under track agreement), old road was sold in foreclosure Nov. 16, 1874, and purchased by bond- 24 mileR; total, 283 miles. In February, 1883, the stock was sold to the holders, who organized this company on a stock basis. m Nov., 1 879, Southern Pacific par ties, as reported, at 150 per share of $100, and the $1,550,000 of the stock owned in this country was purchased by parties Southern Pacific Company held (April, 1885J $4,062,700 out of the in the interest of the Louisv. & Nashv. RR. at 80, giving the control to whole stock of $5,000,000. This company's statements to the New York that company, which now operates it. The old mortg-age debt outstand- Stock Exchange said tbat the company's property consisted of sevening is about $230,000. The Louisville & Nashville Co. has issued teen ir on steamship s plying between New York and New Orleans and $2,677,000 bonds secured on this road, which are pledged for the collat- between Morgan City, La., and the various Texas and Mexican ports, eral trust bonds of that compan_y. Gross earningR in lt:!8-1-5, $1,240,143; and t wo between New Orleans, Florida and Havana ports; also four large ferry boats, tugs, di-.:idge boats, wh3!rves, warehouses. and terminet, $414,545; mt. and taxes, $214,222; sur., $200,322. Mobile & Ohlo.-Owns from Mobile, Ala., to (;olumbus Ky., 472 nal facilities, besides nearly the entire capital stock of the Gulf Western miles, a n d extension (by Kentucky & Tenn. RR.) to Cairo, 21 miles; & Pacific Railroad, Texas TraTlsportation Railway Co., Buffalo Bayou branches-Artesia, Miss., to Columbus, Miss., 14 miles; Artesia, Miss., Ship Channel Co., a nd a majority interest in the capital stock of the to Starkville, Miss., 11 miles; Muldon, Miss., to Aberdeen, l\fiss., 9 miles; Houston & Texas Central Railway Co., &c. Gross earnin~s 1883, total op erated, 527 miles. In July, 1885, the gauge was changed to f4,416,::l90; net, $1,885,714. In 1884 gi·oss earnings were $3,029,004; uet. $1,163,136; interest and ta~s. $513,437. For eight ~onths from standard, 4 feet 8 ~ inches, at a cost of about $28 per mile. The company funded coupons from their bonds in Feb., 1867, and Jan, 1 to Aug. 31, 1885, gross earnmgs were $2,433,391; agamst $2,086,605 in 1 884; net, $743,777, against lji568,768. (V. 40, p. tn, 121; V, 41, resumed payment of interest May, 1870. A default was made May 1, 1874, and two trustees and receivers took possession May 8, 1875, p. 23, 134, 216, 3='>7. ) lUorris & Essex.-Owns from Hoboken, N. J. , to Phillipsburg, and tbe company was reorganized without foreclosure, and the stock and bonds of the company were placed on the New York Stock N. J., 84 miles; branch, Denville, N. J ., via Morris & Essex Tunnel, to Exchange list in July, 1879: First.-New mortgage to the Farmers' Hoboken, N·. J ., 34 m iles; l eased Dover to Chester, 10 miles; Newark & L oan& Trust Co., of New York, as trustees, upon the main line, excluding Bloom. RR., 4 milea; total operated, 132 miles. In 1868 this roa<l branches, to secure bonds in the aggregate amounting to $7,000,000. was leased in perpetuity to the Del. Lack. & W. RR. The lessees assume Becond.-Deed o:I' tI·ust to the Farmers' Loan & Trust Co., as trustees, to all liabilities of the Mor. & Essex RR. and pay 7 per cent per annum on secure four series o:I' pre:l'erred income and sinking fund debentures, the capital stock, an d they also agreed to pay- 8 per cent in case the covering specifically the lands, 1,150,000 acres. Interest at the Morris & Essex earns 1 O per cent on its stock ID any one year after tbe rate of 7 per cent per annum, or in multiples of 1 per ce'"t, but year 1874. The Morr is & Essex is important to the Delaware Lacka,. n ot exceeding 7 per cent in any one year on these debentures, wanna & Western as a route with terminal facilities on New York _Har1s payable_ annually 1:1pon each ser~es in the order of their priority, bor, but the actual e.arnings on the road show a lar"'e annual defl01t for but only if earned ID the preceding fiscal• year. and is non-cumu- the lesse ecoropany after the payment of rental. T'ii:e loss to lessee was lative. The holders of debentures have one vote for each $100, and each in 1880, $1,012,416; 1n 1881, $985,890; in 1882, $941,550; in 1883 yea.r they mstruct the Farmers' L, & T, Co., trustees . l>f\w 1'0 vote at $1,104 218; in 1884 about $1,100,000, (V. 39, p 48.~~ Disburi;ements- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD STOCKS AND BONDS. [VOL. XLI. Subscribers will confer a great favor by giving Immediate notice of any error discovered In these Tables. DESCRIPTION. INTEREST OR DIVIDENDS. Bond.s-Prinoi - - - - - - - - - -- - - - - - - - - --, Miles Date Size, or Amount , - - -- - - - - - - - - - - - - - ,pal, When due. For explanation of column headings, &c., see notes of of Par Outstanding Rate per When jWhere Payable, and by Sto<;ks-Last on first page of tables. Road. Bonds Value. . Cent. Payable Whom. D1v1dend. ---------------------1· - - --- ----1------1---M. & N. Nashua & Lowell-Stock ........................ .. .. $goo,ooo Bonds ($100,000 are gold 5s, J. & J., 1900) ... .. . . Nashville Ohattanooga cf St. Louis-Stock ........ .. Bonds endorsed oy Tenn .................. ... ..... . lstmort. (for$6,800,000), coup ........... ..... .. . 2d mort. .......... .... ....... .. .. ..... .... .. . ...... . Bonds held by U.S. Government ............. .... . N. c.& St. L., lst.M. on Fayette. & McM. brancnee do 1st mort. on Lebanon Branch ..... . do for Jasper Branch ................. . oo for Centreville Branch ............. . Duck River RR., 2d m@rt., endorsed ............ . NashviUe cf Decatur-Stock, gua,r'd 6 p. c. by L. & N. lstmort. guar. s. f ................................ . 2d mortini ge, income ..................... ....... .. . Natchez Jadison& Columbus.-lst mortgage ....... . Mortgage bonds (for $600,000) ................... . Ni~~c:f~~~~~~-c.~:·_-_-_-_-_-_-_-_-_-_-_-_-_-_-:::::::::::::::::::: Nesquehoning Valley-Stock ........................ . Nevada Oentral-lst mort., gold (sink. f., $20,000) Newark cf Hudson-1st mertgage ................... . Newark Somerset cf Straitsv., 0.-lst mortgage .... . Newburg Dutchess cf Connecticut-Income bonds .. . Newburg& New Y01·k-lstmortgage ............... . New Oastle & Beaver Valle1,1-Stock .. .. ........... . . . New England & Southweste1·n-lst M. (!ll6,000,000). New Haven & Derby-1st & 2d mortgages .......... . New Haven & N01·thampton-Stock .• ••.•••.......... Mort~age bonds, coupon . ......................... . Holyoke&W.,1eased, lstM.\$200,000 guar.). ... . Consol. sink. fund $15,000 per yr. & mort. bonds . Northern Extension .. ............................. . 554 151 340 321 1857 1873 1881 ·ss 30 i877 1877 712 1877 $100 .. 25 1,000 1,000 1,000 1".<>00 1,000 1,000 .48 122 119 119 99 0 i870 1867 ·ioo 66 61 18 94 1879 1871 1869 1877 1863 5 44 ·12 15 26 1885 13 6 8&70 170 92 1869 17 1870 1879 27 1881 l,000&c 50 1,000 1,000 500 &c. 1:000 50 1,000 500 &c. 100 1,000 1,000 1,000 1,000 300.000 6,668,362 125,000 6,175,000 1,000,000 500,000 480,000 300,000 173,000 176,000 6!),000 1,642,557 1,817,000 178,000 174,400 27,500 2,000,000 150,000 1,300.000 750,000 250,000 800,000 1,164,500 250,000 700,000 (1) 525,000 2,460,000 1,300,000 ~60,000 1,200,000 700,000 312 6&5 g. F. A. 2 J. 6 .T. 7 J. 6 4 6 6 6&8 ··s· & & & & & Boston & Nashua. A. Bost. Safe Dep. & Tr.Co O. New York & Nashville. J. N.Y., Continental N.Bk. J. do do J. do do do ........ do do do do do Nov. 2. 1885 1893 & 1900 April 30, 1884 Juiy 1, 1886 July 1, 1913 July 1, 1901 July 1, 1891 Jan. 1, 1917 Jan. l, 1917 1907 & 1923 M. &·~ . :::::::::: Nov:1,··i909 J. & D . Nashville. _!D ec. 3, 1885 3 J. & J . N. Y., Drexel, M. & Co. July 1, 1900 7 6 g. A. & 0. Nashv., 4th Nat. Bank. Oct. 1, 1887 10 7 5 .... N.Y., Bank of America. 1885 Bridgeport:Conn~ Juii"i5:·i885 June 1, 1913 Sept. 1, 1885 Oct. 1, 1904 Sept., 1901 Nov. 1. 1889 1977 Jan. 1, 1889 Jan., 1886 1925 1888 & 1900 Oct., 1873 Jan., 1899 Apr.l '91 & '98 April, 1, 1909 April, 1911 J. ·&·J. J. & D Bridgeport, Treasurer. 4 212 M. & S. Philadelphia, Co.'s office 6 g. A. & O. Last paid April, 188! M. & 8. N. Y.L.E.&W. RR. 7 7 g. M. & N. N. Y., Union Trust Co. 7 • (f) 6 7 3 7 6&7 6 5 J ..&..J. N.Y.,OfflceN.'Y:i.E &W Q.-J. Newcastle, Penn. M. & 8. N. Y. Central Trust Co. Various N. Haven, Mech. Bank. .... New Haven. J. & J. do do A.. & 0. N.Hav.,N.Tradesm's Ek A.. & o_ do do A. & O. do do Nashua & Lowell.-Owns from Lowell, Mass., to Nashua, N. H., 15 miles. On October 1, 1880_, a lease for 99 years to the Boston & Lowell was made. The rental 1s $60,000 per year, equal to 712 per cent on stoyk, payable ab~olutely, and ~i,000 cor one·ha~f of 013:e per cent moie) 1s payable contmgent upon tte amount of gro,s earnmgs, and 8 per ce1tt has been p~1d. as rental. for, the J?ast three yearft. The :h_mded debt of $300,000, prmcipal and rnter est, lS assumed by the Jessel}, and the lessor holds the lessee's no,es for the same amount-$300,000. Nashvill~ ~hattanoo~a & s~. ~ouis.-Owns fr?m Chattanooga, Tenn., ~o Hickman, KJ:,, ~21 }niles, branches-Wa~trace, Tenn., to Shelbyville, ';l'enn., 8. miles, Bndgeport, Ala., to l_.nman, Tep.n., 2 5 miles; propne~ary lines-Nashv. to Lebap.on, 30 mµ.es; McMmnvµie Branch, 61 ~iles; Deche1:d to Fayetteville, 4~ miles; C_entre~ille Brauch1 ~7 miles: Duck River RR. (leas.ed), 48 miles; total, o~O p.11les. A m~onty of the stock ($3,385,000) 1s owned by the Lorusville & Nashville RR. Company and pled.O'ed among the collaterals for the trust loan of that comnany. '.:i1'he bonds endorsed by Tennessee are secured by deposit in trust of this company's :first mortgage bonds. The company h a d net income in t h e year 1834·85 abo ut sufficient to pay 3 per cent on the stock, but the income was applied to the r . duction of the floating dP-bt. For five months t"rom July 1 to Nov. 30, 1885, gross earnings were ;;913,982, against $1 ,015,9~0 in 18i:s4; net, $::i73,'L47, a~ainst $439,880; surplus over interest and taxes, $ ,·1,775 in 188:'-, agamst $154,t-39 in 1884. Operations and the fiscal results in four years past (ending June 30) were as follows : / lessee assumed all the debt of t he Nashville & Decatur Co. Iu 1882-83, gross earnings, $1,034.2:U; net. $380,207. In 18~4-85 gross, $1.~61,· 956; net, $466,168; interest an taxes, $291,0 61; surplus, $175.106. Natchez .Tackson & Colurnbus.-Owns completed road from Natchez, Miss., to Jackson, Miss., 100 miles. stock, $,260,809. New 6 per cent bonds authorized but up to 1885 not issued. Floating debt D ec 31 l88 .i $329 493 Earnings for 1883 o-ross $177 221 • net $54:952: In 18!:!4, gross, $181, 59; net, $5S,9i7'." ' . ' ' ' Nau:,;atucll:..-Owns from Nau"'atuek Junction to Winsted, Conn. 5612 miles; leased. Watertown & Waterbury RR., 412 miles; total oper ated 66 miles 5 miles of New York New Haven & Hartford bein"' used between Naugatuck Junction and Bridgeport. Operations and ea~nings for three years past were as f :Jiiows: 1882-83, gross, $712,865; net, $ 2 2 9 ,99!; 18 83-S4, gross. $676,714; net, $'.!25,615; 1884-85, gross, $651 9 4?.. net $213 262. inte est and dividend charges $204 4.6-i •- "'' • ' ' . ' '. · Nesquehoning Val;t.ey.-Owns from Nesquehomng Juncc1on, Pa., to Tame.nend, Pa. 1 17 miles; Tun.nel Brauch, J:I;auto,z. Pa., to Lansford, Pa., 1 mile; total operat(?d, 18 miles. Qpe~ed m hs70, and was leased for 999 years to the Lehigh Coal & Nav1gat10n Co. at a l~ase rental of $130,000 per annum. In Sept .. 188'1, the lease was modified so as to pay 5 p er cent !1 year only, and most of the stock has been extended for 20 years, with a guarantee f 5 per cent per annum. Nevada Central.-(Sce M:ap Union Pacific.)-Battle Mountain to Ledlie, 86 miles; branch, Ledlie, to Austin, 7 miles; total, 93 miles. Stock, $1,000,000. There are $250,000 8 per cent income bonds due 1930, which are held by the Union Pacific, as also $959,000 of the FISCAL RESULTS. stock. D efault was ma.de Oct . 1, 1884, on the bonded interest, and re1881-82. 1882-83. 1883·8!. 1884-85. ceiver appointed Feb., 1885. Gross earnings in 1883, $109,351; net, !files operated............ 539 554 554 580 $19,132; deficit over interest, &o., $25,869. Gross in 1884, $98,289; n et, Earnings_ $ $ $, $ $5,934; deficit over interest, &c , $39,086. (V. 39, p. 402; V. 40, 241.) 663 618 Passenger.......... ...... o8•,,560 621,17~ 6<19,737 Newark & Hudson.-Owns from Bergen· Junction to Newark, Freight . ....... •· - •-- •·· - 1,363,355 1,51~.e7o 1,559,765 l,43~,878 N. J., 6 miles. Leased to New York Lake Erie & Western at a rental Mail, express, rents. &c.. 130,668 14 ,477 148,703 155,10 l of $33,000 per annum, which pays interest on bonds and 7 per oent Total grossearnings . ... 2.07 4, 583 2 ,283 , 523 2 , 372 ,086 2,240,71 µ on the stock of $250,000. Cortlandt Parker, President, Newark, N. J. Total operating expenses. 1,240,991 1,274,855 1,3u3,446 1,304,002 Newark Somerset & Straltsvllle.-Owns from Newark, 0., to - - - - _ _ _ _ _ _ _ _ _ _ _ _ Shawnee, O., 44 miles. Road was completed in 1871. Leased to Sandusky Net ea1nin~s... .. .. .. . 833,592 1,008,668 1,068,640 936.717 Mansf. & Newark for 14 years from Jan. 1, 1872. Operated by the Balt. P. o. operat'g ex. toe'rn'gs 59·el 55·80 54·94 58 ·19 & Ohio, which pays 30 per cent of gross earnings, and advances any INCOME ACCOUNT. additional amount necessary to meet the interest on the debt. Capital 1881 82 1882 83 1883-84. 188-l·85. stock, common, $795,4.00 and preferred, $218.200. Gross earnino-s in 0 0 0 1~~!~~~·li2~941l" ~n11ii~si; 831.~9~ 1,ool~6~ 1,061.640 93l717 ~~is~~\Ys\~iil 4u'.eteii1i1r: Miscellaneous receipts... 3P,006 · 77,247 29,072 11,947 gross, $16!,781; net, $19,511; loss,9$29,922. In 1833-84, gross $168,- - - - ____ ____ 532; net, $757; loss to leEsee, $49,802. 1 Total income ........ . 872,598 1,085,915 1,097,712 948,664 Newburo-Dutchess &Connectlcut.-OwnsfromDutchessJuno. Disbitrsem ents$ $ $ $ N. Y., to .Mil'i'erton, N. Y., 59 miles. The Dutchess & Col. RR. was sold Interest on debt & taxes. 583,577 650,972 662,320 682,273 A.ug. 5, 1876, and this compa y was organized J an. 8, 1877, by the purDividends ............... . 300,164 266,802 chasing bondholders. In addition to above incomes, there are $150,000 Extensions .............. . 212,432 1st mort. 7s, due in 1907. In 1882·83, gross earnings $207,675 New equipment, &c ..... . 359,551} net, $12,320. In 1883•84, gr oss, $177,383; net, $1,022. The comImpro, ement of track .. . 352,316 104,465 , , mon stock is $172,000 and preferred stock $715,350. John S. Schultze, 106 077 59 401 President, Real est ate .............. . 40,098 1\fatteawan, N. Y. Other improvements .... . 248 , 031 _ _ _ _ _ _ _ _ _ _ _ _ Newburg & New York.-Owns from Vail's Gate Junction to Total disbursements. 2,096,169 , 674 Greenwood Juuction, N. Y., 13 miles. Leased October 5, 1866, to Erle 755 ,437 1 ,035 ,199 IBa.lance .. .............. def. l,223,57l sur33o, 478 sur. 62 ,513 sur 740 RR., at $17,500 per annum (being interest on the bonds),and operated 207 , 990 now GENERAL BALANCE AT END OF EACH FISCAL YEAR. by New York Lake Erie & Western. Has no stock. ~::!t\~ N:t!i::~rt:~...... .... Assets- 188182 $ · 188() 83 $ ' 1883 84 $. ' 188• 85 $. · Road and equipment ..•.. 15, 711,4R9 16,194,823 16,316 655 16 9 50 242 Assets not available...... 439,353 352,876 562' 727 ' ,.81' 322 I~v•tm'ts_in st'ks &bonds 386,040 472,590 462;940 481:314 Bills receivable........... 7,187 8,387 8,722 18,132 Real estate................ 8'1,246 84,864 80,364 62,461 Due from agents, &c. .... 121,946 196,988 183,919 250,436 <iJash............ .......... 416,536 325,006 300,21.7 264,408 :rot.a~·.················· 17,166,79717,635,534.17,920,54418 108 314 Liabilities $ $ $ ' $' €a.pita! stock........ . . . . . 6,670,331 6,670,331 6,670,331 6,668,3 63 E~ndeddebt (see SUPP'T). 8,6!9,~00 8,757,000 8,903,000 8,998,000 Bills pa.yab!e ..... : . . . . . . . . 6o9,ti88 597,132 591,499 467 268 Bal'ce dl1e mdivid'ls, &c. 102,494 140,327 97 348 42'947 :rny~t COUPClilS due July 1 279,610 283,740 287'.970 290:905 Dividen ds.... .. .. ........ 63,014. 15,082 21,94.2 18,323 Paz-rolls, &c.... . . . . . . . . 75,665 66,256 75,490 . 72,721 Int st on b'ds held byU. S. 153,600 153,600 153,600 153,6C0 Miscellaneous.... . . . . . . . . 3,899 3,686 15,119 Profit and loos........ . ... 5i3;395 948,167 1,115,67.8 1,381,068 ~ t a l.................. 17,166,79717,635,53417,920,54.418,108,31-! * $502,749 was charged o1l'to "Road and Equipment" during the year. -<V.40, p. 92,241,253,363,481,625,741; V. 41, p 76 189 307 331 355,445, 585, 721.) . ' ' ' ' Nashville .& Decatur.-(See Map Louisville ~ Nashville.)-Owna from Nashvllie, Tenn., tu Decatur, Ala., 122 miles. The road was leased May 4, 1871, to the Louisv. & N.-..shv. RR. for 30 years from JuI;y 1, 1872, at a rental of 6 per cent per annum on the stock. The https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis New Castle & Beaver - alley.-Owns from Homewood, Pa. to New Castle, Pa., 15 miles. Road in operation since 1860. Leasei. to Pittsb. Ft. W. & Chic. RR. for 99 years at a rental of 40 per cent on gross earnings. Lease transferred t Pennsylvania Company. There is no debt. In 1879, 13 per cent dividends were paid; in 1880, 13 p. c.; in 1881, 24 :p. c.; in 1882, 14 p. c.; in 1883, 29 p. c; in 1884, 19 p. c. Gross earnings m 1883, $406,472; rental r eceived, $162,588; gross in 1884, iji270,24l} rental received $108,098, New England & Southwestern..-This road, as projected, Will extend from Brewsters, N. Y. (junction of New York & New Englan!l, New York & Hariem and New }'.'ork City & Northern), to and across the Hudson Ri ver by bridge lt.t S orm King, to a connection with the Erie, West Shore, New Yo1k Ontario & Western and the Lehigh & Hudson ra-ilroads on the west side, making 26 miles of road mall The company was formed by actl of the New York Legislature of 1850, as subsequently amended, and the act <Jf 1880 1 chapter f. 82, and claims the right to bridge the Hudson. The stock is $3,000.000 and the bonds $6,000,000, which stock and bonds are taken by the Phoonix Bridge Company of Phoonixville, Pa., and they have contracted to build the structure within two years. New Haven & Derby.-O wns from New Haven, Conn., to Ansonia, Conn., 13 miles. Capital stock is $446,600, of which New Haven city owns $200,000. New Haven City guarantees the $225,000 seconil mortgage bonds, and has a claim of about $300,000 for money advanced. Negotiations have been pending between the company and the city for an ad,justment. Gross earnings in 1884-5, $150,737; net, $63,792. In 1883-84, fn'OSS , $158,206; net, $65,023. (V. 39, p, 581.) New Haven & Northampton.-Operated from New Haven, Conn., to North Adams, M ss., 123 miles; branches-Northampton to Williamsburg, 8 miles; 1<·a1·nungton Conn., to New H.artford,Conn., 14 miles ; South Deerfield to Turner's Falls, 10 miles; to Tariffville, Conn., 1 mile; leased-Holyoke & Westfield RR., 14 miles; total, 170 miles DECEMBER, 1885, l RAILROAD STOOKS A.ND BONDS. 63 Subscriber• will conCer a great CaTor by giving Immediate notice oC any error discovered In these Tables. DESCRIPTION. For explanation of column headin~s, &c., see notes on first page of tables. New Jersey & New York-1st mort. (reojanizatior..1 ,N. J. Southern-1st mort. (int. guar. by ,Y.& L.B ) Lo~ Branch & Sea Shore, 1st mort., guar ........ New ondon Northern-Stock .•..............••... .. 1st mortgage bonds .... _........................... 2d mortgage ........................................ Consol. mortgage (for $1,500,000) . ... _............ N. Y. ~ Oanada-lsti M., sterling, guar. D.& H. Can. New York Central & Hudson River-Stock .•••...... Premium bonds (N. Y. Central) ext.10 y'rs, '83 .. Renewal bonds ..................................... N. Y. C. & H., { $30,000,000 } coupon or reg. { mortp:age . . . £2,000,000 Debenture bonds (for $10,000,000l,coup. or reg .. .N. Y. Ohicago & St. L.-Stock ($22,000,000 is pref.) 1st mortgage, gold, coup. or reg................... . ·2d mortgage (for $10.000.000) . . ................... E-}uicfi. bonds (principal payable $400,000 yearly I N. . d: Northern-General mort .............. . New Yor & Greenwood Lake.-lst mort., income .. 2d mort., income ................................... New :York & Ha1·lem-Common stock ............ . ... Preferred stock .................. .. .............. - .. Consol. morti., coup. or reg., (for $12,000,000) .... .N. Y. Lackawanna d: Western.-Stock, guar., 5 p.ct. 1st mort,g-age, coupon, may lie registered ......... .2d mort. guar. by D L . & W. (for $5,000,000) .... it¾ IBonds-.Princt, INTEREST OR DIVIDENDS. Miles Date Size, or Due. Amount Rate per When Where Payable, and by pal,When of Par Outstanding of Stocks-Last Road. Bonds Value. Cent. Payable Whom. Dividend. - -· - - - - - 30 78 .... 100 100 100 121 150 993 ··-· ..... 840 840 523 513 513 .62 40 ---- 156 156 132 213 200 200 . !.880 $500&c. 1879 600 1,000 1869 100 is65 lOO&c. 1872 500 &c. 1,000 1880 1874 £100&c 100 i853 500 &c. 1854 1,000 1873 1,000 1873 . 1,000 1884, 1,000&c 100 ---· 1,UOO 1881 1,000 1883 1882 1,000 1880 500 &c. 1875 100 &c. ..... 100 &c. 50 50 i872 1,000 100 isso 1,000 1,000 1883 ---- -In April, 1881, a controlling interest in the stock was sold to ~ew York .New Haven & Hartford parties. Cn 1884-85 gross income was $ 304,· 099; net, $275,704; surplus over char,g-es, $9,'t30. In 1883-4, gross, $8'10,213; net, $273,640; surplus, $2,128. (V. 41, p. 688 .) New Jersey & New York.-Owns from Hackensack, N. J., to Btony Point, N. Y., '25 miles; leased, Nanuet & New City RR. 5 miles; Hackensack RR., 6 miles; Gn.rnerville RR., 1 mile; total operated, 37 -miles. Orga.nized Sept. 4, 1874, by con olidation of the Hackensack & New York RR. and the Hackensack & N. Y. Ext nsion Railroad; re•cetver appointed in 1877, and tlle two roads were separately foreclosed. .11.'he present company was formed on reorganization in April, 1880. Stock. $2,000,000 common, $300,000 preferred. Gross earnin,g-s in 1883. $117,571; expenseo1, including coutingencie , $217,354. Gro~s in 1884, $210,649; expenses, $202,52.'3. New Jersey Southern.-The road extends from Port :\fonmouth, 'Bandy Hook, to Atco, 70 miles, with branch fro_m Eatoutown to Pt. Monmouth, 9 miles. The property was sold in foreclosure March 31, 1879 (see -CHRONICLE, V. 28, p. 352), and the present company was organized July 25, 1879. The capital stock is $1,590,600. Tbe pr perty 1s subject to $120,000 on the Tom's River RR. and $200,000 ou the Long Branch & Sea Shore Railroad. This latter boncl is endor ed by the United Companies of New Jersey. The above mortgage is for $1,590,600, of which $1,449,600 llave interest guaranteed by the New York & Long Branch Railroad by endorsement of the bonds, and the Central of New Jersey agreed to assume those bonds. The road is operated as a part of the Central New Jersey system. Suit was begun in August, '85, against tbe Central of New Jersey Co. for interest ove1'due. (V. 41, p. 189.) New London Northern.-Owns from New London, Conn., to Brattleboro, Vt., 121 miles, of which 100 miles leased to J. G. Smith and others. This road has been operated since Dec. 1, 1871, under lease to the Central Vermont Railroad; the lease was for 20 years at $150,000 ~r year, and $15,000 for each additional $100,0<'0 of earnings over ,t;510,000 per year. Consolidated mortgage bonds issued to retire all other funded and floating debt and to pay fo1· branch purchased from Vermont & Massachusetts RR. New York & Canada.-Owns from Whitehall, N. Y., to Rouse's l'oint, N. Y., 113 miles; branches: Ticonderoga, ~- Y., to Baldwin, N. Y., 4 miles; Plattsburg, N. Y., to Ausable, N. Y ., 20 miles; West Chazy to Province line, 13 miles; total operated, 150 miles. The whole iline was completed Sept. 18, 1876. The road is leased and virtually -owned by the Delaware & Hudsou Canal Company, which guarantees the bonds. The stock is $4,000,000. Earnings 1883-84, gross $695,265; net, $162,720; loss to lessees, $74.674. In 1882-83, gross, $717,667; net, $116,793; loss to lessees, $118,131. Ne-w York Central & Hudson.-LINE OF ROAD.-Owns from New York City to Butfalo, N. Y., 442 miles; branches on New York -Central division, 306 miles; total owned, 748 miles; lines leased- Troy & Greeenbush, 6 miles; Niagara Bridge & Canandaigua, 98 miles; .Spnyten Duyvil & Port Morris, 6 miles; New York & Harlem, 127 miles; Lake Mahopac, 7 miles; total, 245 miles; grand total , 993 miles. The aecond track owned· is 513 miles; third track, 317 miles; fourth track, 298 miles; turnouts, 579 miles-maldng a total of 2,378 milee of track owned by the company, and 325 miles leased, 2,702 miles in an. A.lso operates the Dun. All. Val. & P. RR., 104 miles, but reported separately. In Dec., 1885, a lease for 475 years was taken of the West Shore Railway, about 472 miies. I ORGANIZATION, &c. -This company was formed by a ccrsoUdation -of the New York Central and the Hudson River railroads Oc.tobe1 1, 1869. The New York Central was a ccnsolidation of several roads under a special law of April 2, 1853. The Albany & Schenectady Railroad, opened September 12, 1831, as the Mohawk & Hudson, was the first railroad built in the State of New York. The fI dson River Railroad was chartered May 12, l B46, and road opened October, 185 l. STOCK AND BoNDs.-The famous scrip dividend of 8 per cent on the capital stock of the N ew York Central was made in D ecember. 18S8. and on the conAolidatilon with the Huclson River road (1'Tov. 1, 1869) H further dividend of 27 per cent was distributed on the New York Central stock and 85 per cent on the Hudson River stock. In November, 1879, 250,000 shares ($25,000,000) were sold to a syndicate 1>f bankers by Mr. W H. Vanderbilt at the price of 120, and 100,000 shares sold afterwards. Dividends of 8 per cent p er annum haa been paid since 1868, but in Oct., 1884, the quarterly divide nd was reduced "to 11.g per cent. Prices of stock since 1870 have been: J:n 1871, 8414 'ii> 103:SS; in 1872, 897i)101 7s; in 1873, 777sa>106lg; in 1874, 957A'ii>l055g; ln 1875, 100@10738; in 1876, 96@117½; in 1877, 85141i> 10914; 187!:!, 10384@115; in 1879, 112@139; in Us80, 122·@ 15538; in 1881, 13014 @155; in 1882, 123rlg@l38; in 1883, llllg@L291s; in 1884, 83lg@l2i; in 1885 to D ec. 18, 8134@10714. The mortga3'e for $40,UOO,OOO was issued to lay the t hird and fourth tracks, &c. T.ne debenture bonds of 1884 must be included m any new mortgage issut;d prior to 1902. OPERATIONS, FINANCES, &c.-The New York Central & Hudson River has been conspicuous among the trunk lines, in not branchIng out and taking leases of lateral roads or ex:tensions, but iu placing a heavy outlay of capital on the main line from Buffalo to Albanv for the four tracks. The road has a rich local traffic, but the prollts also depend very much uoon harmony among the trunlr ltnes. In the fl.seal year 1881-82 the profits were ins lfic1ent to pay https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ---- $275,000 1,4-19,600 ~00,000 1,500,000 300,000 .387,500 812,000 4,000,000 89,428,300 6,450,000 2,391,000 30,000,000 9,733,333 7,850,000 50,000,000 lfl,000,000 1,046,000 4,000,000 3,697,000 900,000 1,800,000 8,500,600 l,49fl,400 11,650,000 10,000,000 12,000,000 4,450,000 M. &N. N.Y., Mercantile Tr. Co. Last paid July,'o5 J. & J . J. &D. New York. Q.-J. New London, Office. A. & O. N. Y., B'k of N. America J. & D. do do J. & J. do do M.&N. London. Barinf Bros. lg Q.-J. N.Y., Gr. Centra Depot. M.&N. 5 do do J. &D. do do 6 do do J. & J . 7 6 g. J .. & .r. New York and London. \I. & s. N.Y., Gr. Centr'l D epot. 5 ..6.g. J. &D. Last ·pald.".Dec.,'84 M.& S. · Last· paid Mch. '85 6 A. & O. Last paid Oct., '84 7 M. & N. Last raid Nov. '81 6 F. & A . New York, Co.'s Office. 7 M.& S. do do 7 4 J. & J . N .Y., Gr. Central Depot. do do 4 .r. & J. M.&N. do do 7 114_ Q.-J. N . Y . yD. L. &W. do do 56"" ..,. J. & J . F. & A. do do 6 6 7 llg 6 7 5 6 g. 1910 July 15, 1899 Dec. 1, 1899 Jan. 1, 1886 1::!ept., 1885 July, 1892 July, 1910 May 1, 1904 <'ct. 15, 1885 May 1, 1893 Dec. 15, 1887 Jan. 1, 1903 Jan. 1, 1903 Sept. 1, 1904 1; Dec:· "i921 Mar. 1, 1923 Oct.l,'85 to '94 May 1, 1910 ·····-·· Jan~. !i;°isrn Jan. 2, 1886 May, 1900 Oct. 1, 1885 Jan. 1, 1921 Aug. 1, 1923 the '3 p er cent dividends, and the defl.cit was $1,401,603. In 1882-83 the surplus ovr r dividend payments was $179,020. [n 188 3-8-! the deti.cit was $2,490,835. T!le large d ecline in net income was partly owing t,o gener,1.J <boression, but aLso t o the fact that the N ew York "est Shore & Buffalo road, as a closely parallel line from New York to Buffalo, competed sharply on local business.. The dividend was reduced in October, 1894, to 112 quarterly, instead of 2; in April. 1885, paid 1 per cent, in July ½! and iu Oct. ½. Iu D ec., 1885, a lease the West Shore Railway was taken for 475 .vears and tile lionds of $50.000,00U at 4 pn cent guaranteed, !Jy N. Y. f'entr~1l & Hudson, and $10,000,000 West Shore stock taken as consideration. '.rhr flscnl year, nds Sept. 30. Annual figures for 1884-5 were published in the CHRONICLE, v. 41, p. ot 721. Year Net Income, Diviendin"' Passenger Fre.io-ht (ton) Gros over exp., dends, Sep. 30. Milea~e. Mifeage. R eceipts. int.& rents. p. c. Surplus. ll:!81.3"73,768,930 2,616,814,098 $32,348,395 $7,892.827 8 $754,484 1882.432,243,28 2 2,394,799,310 30,628,781 5,743,904 8 *1,401,608 · 1883.429,385,:'i6l 2,200,890,780 33,770,722 7,327,156 8 179,024 18 4 .~87,829,886 1.970,087,115 28.148,667 4,668,759 8 *2,490,885 1885 . 24,429,141 2,176,342 31.g *953,648 * Deficit. -(V. 40, p. 92,197, 214, 281 , 304, 481, 583, 597, 763; V. 41, p.113, 161,445,527,612,653,689, 709 , 721, 722.) New York Chicago & St. Louls. -(See Map Lake Sh. & M. S,) Butfalo, N. Y ., to Grand Crossing, Ill., 513 miles; leased in Buffalo 1 ¼ m iles; Grand Crossing to Chicago 9 miles; total, 52~1 miles. This Company was formed in 1881 and became known as the ·• Nickel Plate." Uf the stock $22,000,000 i@ preferred 6 per cent. In October, 1882, the sale of a majority of the stock to a Rynd1cate took place, including 124,800 shares of common stock and 140,f>OO preferred, at the respective prices (as reportei) of 17 a nd 37. The L. Sh. & Mich. So. owns this stock. On March 2q, 1885 D . W. Caldwell was appointed receiver on application of SP.cond mortga re bonclholders, and d efault was made, on equipment bonds April 1. These bonds arc1 secured on the rollin"' stock, which was purcl: ased in 1882 for $6,01 10, 1 100, of which $2,000,o'oo was paid in cash. The trustees can take the rolling stock and sell it, but there is no lien on the road. Tlle first instalment of principal was due Oct. 1, 18~5: d efault on the firs t mort ~age interest occured July 1, 1885. The bondholders' committee as ron'> tituted December, 188:';, and their proposed method of action, were ,given in V. 41, p. 65 :~. The loans ana bills payable F eb. 28, 18 35, were $~. 710,000, probably secured largely by the pledge of ~econcl mort. bonds. as only $1,046,000 of the lattel' were reported as outsta~~ding. In Sept., 1885, large judgments were entered against the comr any, and au answer put in by the defendants intheforec10suresuits. See V. 41, p. 357. Annual report for 1884 in CHRO ICLE, V . 40, p . 567. Gross earnings in 1884 were $3,207,5 91, agaimit $2,327,683 in 1881. Net earnings for 1884were :t8lri,357. For the year ending June 30, 1885, gro:'IS earnin gs were $1.346,676, agai nst $1,4 -" 7,713 iu 1884; net, $248.117, ag;1i11st $233,812; rentals about $170,000 in each year. (V. 39. p. Hs:t. 209, 381, 553, 681; V. 40, p. 270,394, 424, .J.54, 508, 54;2, 567, 635,717, 741,763; v. 41, p . 23, 51, 189, 273, 356,392,420, 473, 495, 5=5, 653, 720.) New- York City & Northern.-Owns from 157th Street in 8th A.venue, New York City (connecting with Metropolitan Elevated), to Brewsters, N. Y., and branch, 54 mues. This company was organized March 1, 1878, and acquh·ed the N. Y. West. & Putnam (formerly the N. Y. & Boston Railroad), sold in foreclosure March, 1876. The company in May, 1880, leased the West Side & Yonkers road for 999 years, and the consolidated mortgage was .issued to take up all the other bonds, of which $264,000 under a prior mortgage were outstanding Nov. 1, 1884. Stock is $2, ?90,000. Default was made in interest due ~fay 1, 1882, and foreclosure is pending. Mr. Arthur Leary was appointed receiver May 24, 1882. (V. 39, p. 182; V . 40, p. 182, 241, 337, 588; V. 41, p. 585.) Ne,v York & Greenwood Lake.-Owns from J ersey City, N. J., to Greenwood Lake, 4B miles; branches - Ringwood Junction to Ringwood, 2 miles; North Newark to Omnge, N. J. , 8 miles; total, 58 miles. This was the Montclair Railroad, opened in 1874. It was sold :!.!ld reorganizea as Montclair & Greenwood Lake, and a"'ain sold October 12, 1878, and the present company organized. The :§ew York Lake Erie & Western purchasea a controlling mterest in the property and now operate it. The holders of the second mortgage lilon have a right to pay off the first mortgage bonds of $900,000 at 105, a d thus gain control of the property. Th~ stock is $l00,000; ad~ances due to the Erie and to Cooper & Hewitt $132,615. Net earnmgs in 1882, $20,411; 1n 1 883, $6,475; in 1884, $5, 670. Abram S. H ewitt, Pres't, -(V. 40, p. 684.) New York & Harlein.-Owns from New York City to Chatham N. Y., 127 miles. From Chatham to Albany, 24 miles; the Bost. & .Alb. RR. is used. This company owns the Fourth A venue street railroad. The property (except the horse railroad) was leased A.pril 1, 1873, for 401 years, to the N. Y. Central & Hudson RiYer RR. at 8 per cent diviidends on the stock and the mterest on the bonds. The Fourth ave. horse railroad was retained, and extra dividends are paid out of its recei_pts annually in April. All operations of the main road are included with those of the N. Y. Central & Iludson. (V. 39, p. 2G5.) New York Lackawanna & Western.- From Binghamton to Buffalo and £nternationa1Bridgea.nd branches, 214 miles; built under the 64 RAILROAD STOOKS AND :BONDS. [VOL, XLI. Subscribers -will conf"er a great favor by giving immediate notice oC any error discovered in these Tables. DESCRIPTION. \ INTEREST OR DIVIDENDS. fBondg-PrJnoi Miles Date Size, or Amount pal, \Vhen Due For explanation of column headings, &c., see notes of of Par Outstandin"' Rate per When Where Payable, and by Stocks-Last on first page of tables. Road. Bends. Value. " Cent. Payablfl Whom. Dividenu., N. Y. Lake Erie d: West.-Stock, common ........... 1,660 Preferred stock .................................... 1,660 1st mortgage (extended in 1867 to 1897) ......... --·· 2d mortgage, gold (extended in 1879) .... ....... . . .... 8d mort., gold (extended 40 years at 412 p. ct) .... 4th mort., gold, (extended in 1880 at 5 per cent). ..... 5th mortgage, convertible ...................•...•. .... Buffalo Branch Bonds .............................. Long Dock Co. mortgage .....................••.... .... N ew mortgage, coup., gold (for $7,500,00U) ...... ..... lat consolidated mortgage, gold ................... ....... do do funct.ed coupon bonds. ....... Reor~nization 1st lien b~nds, ?old . .• ............ --·· N. Y. . E. & W., 2d conso1. mort., gold ....•....... .... income bonds (non•cum.) ........ .... do Collateral Tr. bonds,gold, red'ble at 110 .••..•..•. .... Car trust bonds ..........................••.......•. ---· ---· New Yor1e &Lonn Branch-Stock .....•.............. Mortgage bonds. . . . . . . . . . . . . . . . . . . ................ N. Y. & N. Ennland-Stock ($20,000,000 auth'rized) Preferred stock, 7per cent cumulative ..•......••. 1st mortgage ($6,000,000 are 7s) ...........••..... 2d mortgage ($2,833,000 are 6s) . ... . ..........•. Notes and debts for terminal property ......•..... New York New Raven re Hartford-Stock . ..•..... Mortgage bonds, reg. (for $5,000,000) ..•......... Harlem & Portchester, 1st mort~age guaranteed. do do 2d M., coup. or reg .• !uar .. New York Onta1'io & Western-Preferred stoc ...... Common stock .......................... .... ........ 1st M., gold, for $4,000,000 (redeemable at 110) . . "3g 380 s2i 321 257 123 12 12 ~21 421 421 --·· . ..... 1847 1879 1853 1857 1858 1861 1863 1885 1870 1878 1878 1878 1878 1882 .... 1882 ---- i876 1882 1882 isss 18n 1881 .... i884 $100 $77,221,100 100 8,145,800 1,000 2,482,000 1,000 2,149,000 1,000 4,618,000 1,000 2,926,000 500 &c. 709,500 100 &c. 182,600 1,000 3,000,000 1,000 4,500,000 1,000 16.890 ,000 500 &c. 8,705,977 1.000 2,500,000 500 &c. 33,597,400 300 &c. 508,008 1,000 4.,273.000 5,666,000 2,000,000 .... 1,500,000 . ... 18,699,000 2,000,000 D>oo 10,000,000 1,000 4,181,000 1,646,532 ·ioo 15,500,000 1,000&e 2,00U,000 1,000 2,000,000 1,000 1,000,000 2,000,000 .... ...... 58,113,982 (1) 1,000 ---- ---- auspices of Del. Lack. & West. Opened Oct., 1882, and leased to Del. Lack. & West. for 99 years, with aguarantyoftha bonds and 5 per cent yearlv on the stock. The Latter guaranty is written a.oross tL.e face of the certificates and signed by the D. L. & W. officials. Sept. 30, 1884, owect D. L, & w. for advances $420,143, 1V. 39, p. 48,) Ne-w York Lake Erle & Western.-LINE OF ROAD.-Sufferns N. Y., to Dunkirk, N. Y.,430 miles: branches-Piermont.18 miles; Nevrbur,g-, 18 mtles: Bu1falo. 60 miles: Erie International RR.. 5 mtles; Rutherford to Ridgewood, 11 miles; leased-Montgomery & Erie RR., 10 miles; Goshen & Deckertown, 12 miles; Newburg & New York, 13 miles; Paterson Newark .. & N. Y., 11 miles; Hawley & Honesdale, 24 mileE.; Je:fferson RR., 37 miles; Buf. Brad. & Pittsburg and extension, 78 miles; Buff. N. Y. & Erie, 140 miles; Suspension Bridge & Erie Junction, 23 miles; Rochestu & Genessee Valley, 18 miles; Avon Gen. &Mount Morris, 17 miles ; l'at. & Bud., 15 miles; Pat. & Ram., 15 miles; Lockport & Bu:f., 13 miles; Buf. & Southw., 68 mileR: c(mtrolled-Newark & Bud., 6 miles; Weehawken N.Y. & Ft. Lee, 5 miles; Northern of N. J., 25 miles; N. Y. P enn. & Ohio and branches, 547 miles; total operated, l,ti221niles. On May 1, 1883, began to operate the New York Pennsylvania & Ohio under lease, and on May 14, 1883, the Chicago & Atlantic road was opened from Marion, Ohio (on the New York P ennsylvania & Ohio), to Chicago, 268 miles, and under control of N. Y. Lake Erie & West. gave a complete line from New York to Chicago; but in 1885, owing to dissensione, this was broken. ORGANIZATION, LEA.SES, &c.-The New York & Erie RR. was chartered April 24, 1832, and the State of New York loaned the company $3,000,000; the road was opened to Dunkirk April 22, 1851. Tlle company was reorganized under the name of Erie R ailway Co. Jun e 25, 1861. This Erie R ailway was sold in foreclosure under the second consolidated mortgase in 1878. The present company was organized and took poaaess10n June 1, 1878. STOCK AND BONDS.-Preferred iJtock has a prior right to 6 per cent (non•curnulative\ .from the net profits, "as declared by tho board of di· rectors," and in Jan., 1883, it was decided by the U.S. Circuit Court that when sufficient earningt:1 were shown the dlvi.dend must be paid. Prices of c0m. and pref. stock since June, 1878, have bee:1 as follows: Com.-In 1878, 75sa122½; in 1879, :H 1 sa149; in 1880, 30'@511s; in 1881, 39~a152 7s; in 1882,3314'@431\i; in 1883, 26 7 s1})40 7 s; in 188-t, 11 1s1il283a; in 1885 to Dec. J 8, ~14'izl27 7s. "?ref.-In 1878, 2112'7il38; in 1879, 37½1i> 781s; in 1 880, 47'@93½; in 1881, 8012'@96~ ; in 1882, 67@80 14; in 1883, 72'7il83: in 1884, 20'@7 l; in 1885 to l>ec. 18, 18'7il57. The funded coupon bonds are secured by lien of consolidated mortgage. On the secon'1. consolidated wortgage coupons no 1orecl1 sure can take p·&ce rill six successive coupons are in default, but all of one coupon must be paid before any part or a subsequent coupon ii,; paid. In t882 the reorganization first lien bonds dated 1878 were issued. and they rank next to the 1st consol. mort. and its funded coups. In 1883 the collat'l trust bonds were issued (tbe U. 8. Trust Co. trustee; see V. 38, p. 509), and redeemable at 110 on three m onths' notice ; about$--- were so redeemed Nov., 1885. OPERATIONS, FINANCES, &c.-The company since its reorganization in 1878 has become a stand ard gauge system. The income account for li\everal years showed a considerable surplus over tixed charges, but in 1883-84 tlle income fell off l argely, and there wa3 a deficit below the interest requirements, and three coupons, June, 1884, to June, 1~85, on the 2d consol oonds, were passed. In Nov., 1885, it was announced that the company had negotiated a loan for $7,000,0uO new bonds on)he Long Dock property {including $3,0~0._000to pay old bondo), and the coupon of Dec. 1, 1885, would be paid if holders funded the three coupons overdue, and that to fall due June 1, 1886. See v. 4 l, p. 585. Some of the llolders of car tmst bonds have relinquished their right to annual drawings of principal, and some of the holders of series F. and G. agreed to reduce their interest to 5 p er cent; nut as to these mat ters no precise information has been obtainable. The annual report for year ending Sept. 30, 1885, published in tne CHRONICLE, v. 41, p. 609 and 652, had the following: OPERATIONS AND FISCAL RESULTS. 1881-82. 1882·83. 1883-84. 1884.-85. Passengers carried.. 6,784,195 6,9q4,724 6,734,045 7,209.054 Pass~ger mileage_.. 225,130,883 247,147,117 235,105,058 250,635,115 Rate 1!l pass. ~ mile 1·947 cts. 1 ·969 eta. 2·189 cts. . .•....... Freight (tons) moved 11,895,238 13,610,623 16,219,5\-J8 14,959,970 Freight (tons) mil'ge 1954389710 23069468!>2 249.i3888976 2381778927 Av.rate :if,! ton :if,! mile 0·749 eta. 0·780 ots. 0·685 eta. • ••...•... Earnings$ $ $ $ Passenger........... 4,384,510 4,632,229 4,675,872 3,936,793 Freight .. .•.......... 14,642,12q 17,213,621 15,773,004 13,8 13,249 Mail,expr's,rents,&c. 949,136 956,31:}6 1,188,559 1,134,530 Operations*- Total gross earn'gs 19,975,774 22,802,2-!6 21,637,435 18,934,572 * In all the figures for 1883-84 the N. Y. Pa. ·- -· 7 5 g. 4¼!g. 5 g. 7 7 7 6 g. 7 7 g. 6 g. 6 g. 6 6 g. 6&a ··:r ---· 6.&.7 3&6 4 5 4 6&7 4 12 ..6.g. Operating expenses- Maintenance of way. Maintenanc~ of cars. Motive power ..•.... Trans).•. expenses .. . Gem,ral expenses .. . Year;y. N.Y., ig·cortiandt St. M.&N. do do M.& S. do do M.& S. do do A.. & o. do do J. & D. do do J. & J. do do J. &D. do do A. & 0. do do M.& s. New York and London. .M.& s. do do M.&N. do do J. & D. Coupon of June,'86, off. J. &D. Last paid D ec. 1883. M.&N. New York& London. --------·· .... ............... .Tan: ·ii:;, "i884. May 1, 1897 Sept. 1, 1919 Mar. 1, 1923 Oct. 1, 1920· June 1. 1888 July 1, 1891 J an., 1893 Oct. l, 1935 Sept. 1, 1920Sept. 1, 1920 D ec. 1, 1908Dec. 1, 1969' June 1, 1977 Nov. 1, 1922 1886-1892 ---····· . -...... N. Y., .ii9. Liberty St. ---------- J. .&.. J. Boston, Treas.'s office. F. &A. do du Va1ious Boston. J. & J. N.Y., Grand Ceu. Depot .. J. &D. do do A. & O. do do J. &D. do do -- -----·- --·· .. -·. --... Jau~;·ioo5 2 Aufsls!-ff Jan. 2, 1886 June 1, 1903 1903 June 1. 1911 Ma.rch i, 188,'3 M_-&·s . New York Sept: i·, 1914 0 1881-82. $ 1,995,368 1,009,662 3,639,506 5,832,97 610,578 ----- 1882-83. $ 2,720,174 1,299,986 4,44~l,908 6,421,979 558,536 1883·Si. $ 2,602,368 1,247,324 4,749,570 7,059,155 699,660 1884'·85. $ 2,369,045 1,305,864 4,158,186 5,964,475 5-!9,946 Total . .•.. ... .••. 13,088,093 15,444,583 16,358,077 14,347,516 Net earnings........ 6,887,681 7,357,663 5,279,358 4,587,056 P. c. ~p. exp.to earn's 65·50 64·78 69·52 69·79 The statP,mP,nt of P'.'Ofl.t an'1. losf! inc.,·1~,.. . "llmerous items, and reference should be mact.e to the table in V. 41, p. 65'.?, of which the totals are as follows for the :fiscal years ending Sept. 30, 1882, 1883 1884 and 1885. 1882. 1883, 1884. 1885. Total income... $7,66~,335 $8,234,463 $6,356,983 $5,589,748 Total debits.... 6,501,693 6,968,978 7,055,606 6,966,691 Surp. or deficit. . $1,166,642 -- $1,265,485 *def.$698,622 df.$1,376,943 * This aDows for full interest on 2d console, though only two montha' interest was actually paid in 1883·84 and none in 1884-85. -(V. 40, p. 28, 92, .151, 164, 182,214,241, 270, 281, 304. 363,425,552, 569, 588, 625, 640, 652, 685, 717; V. 41, p. 23, 50, 95, 161, 189, 190, 215, 273, 407, 420, 446, 495, 585, 599, 609, 612, 613, 625, 652, 665.) Ne-w York & Long Branch.-The following-named companies were consolidated on Decemter 21, 1881: New York & Long Branch RR., from Perth Amboy to Long Branch, 23 miles; New Egypt & Farmingdale RR., from Long Bran h to Ocean ;Beach, 7; Long Branch & Sea Girt RR., from Ocean Beach to Sea Girt, 3; New York & Long Brancb Extension RR., from Sea Gi rt to Point Pleasant, 3 ; Long Branch & Barnegat Bay RR., from Point Pleasant to Bay Head, 1; total length, 38 miles. Tbe entral RR. of New J ersey holds a ma• jority of the stock, and l1y contract of J an. 3, 18 2, thA Penn. RR. and Ceutral of N. J. agree to pay 32 p. ct. of gross traffiC-$206,000 per year as a minimum to $240,000 as a maximum. When the Phila.& Read. leased the Central of N. J., litigation was begun to deprive the Penn. RR. or furtheruse of this route, but compromise was made . Gross earnings for the year 1883 were $544,390 and deficit on operations $35,383. Interes t cha11e, $90,000 and dividend of 134 per cent $35,000, making total deficit, :i,160,383. Ne,v York ·&: Ne-w England.-The mileage owned is as fol• lows: Boston to Hopewell Jun tion, 215 miles; Wlcopee to Newburg, 3 miles; Providence to Willimautic, 58 miles; branches-Newton, Mass., to Woonsocket, R. I., 28 miles ; East Thompson, Conn., to Southbridge, Mass., 17miles; Elmw od to I1P-dham, Mass., !½miles ; Charles Riv. tu Ridge Hill, Mass., 2 miles; other branches, 112 miles; total owned, 326 miles. Leased-Franklin to Valley Falls, 14 J,niles ; Vernon to Rockville, 4 miles; Springfield to E. Hartford, &c., 34 miles; Norwich & Wor• cester RR., 66 miles; total leased, 119 miles; also has running- arrangements over 26 miles more. Total, 471 miles. Controls Norw,ch & N. Y. Steamer line. The former Boston Hartford & Erie Raih·oad became insol ven. t and was succeeded by this company, formed in 1873. In 1878-79 the company acquired the Hartford Prov. & Fishkill RR. Since the completion of the line to Fishkill on the Hudson in 1883, the through traffic rates have been demoralized, and t he N. Y. & New hngland has not yet realized the full benefit of that extension. On January 1, 1884, Mr. C. P. Clark, the President, was appointed the receiver. For the car trust bonds :.!d mortg. bonds were issued, bearing 3 per cent for 1ive years to Feb. 1890, 5 per cent for two yt•ars to Feb. 1892 and 6 for balance of term, and the car tmst bonds were all exchan.iced; the rolling stock w s sold and bought in by the receivers in Sept., 1885. See V. 41, p. 357. It was voted in Sept., 1885, to offer $2,000,000 of 7 per cent cumu lative preferred stock at par; and this stock, taken by stockholJers, by creditors and other3, cleared off the floa ting debt. Mr. W. T. Hart, the President, r emarks in his rPport for 18<34-5 that after paying all charges for the year, including interest on the bonds, there was a deficit in the year's income of $113,460, and then says : ''It is true that the charges payable out of income for the year are less than this amount by $44,000, representing coupons funded by the company in its second mortgage bonds, and if considering only the recei"rnr's income and disbursements, the deficit should be reduced by this amount, and so be stated at $69,460. The amount chargect to 'rent of other roads' includes a payment of $72,675 to tue Norwich & Worn~ster road during the year. This may not be expected as a future charge, the rental of that road having been reduced, as is exvlained in this report. A fair statement of the matter is, that your road has substantially earned it~ fixed charges, alth ugh technically it has failed to do so by $113,460. The most import nt question is whether these net resul!is have been obtained by negle ting repairs and renewals. and thereby lessenini the value of the property. Upon this it ma;v be stated that the Railroau Commis,ioners of the several States, in giving the result of their official exa,rnina,tio:na of y our road, speak very highly or its ooJldh & Ohio statistics are included for the ell tire year, but in 1882·83 they were included for five months only , which accounts for the apparent increase in business in 1883-84. The :figures of tt-dffic do not include coal and other supplies or the use of the two companie<J, tion. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ..6. · DECEMBER, 1885.] Subscdbers ~ RAILROAD STOOKS. AND BONDS. 63 conCer a great Cavor by giving Immediate notice oC any error discovered In these Tables. , 1 B u nus-.Prinoi INTEREST OR DIVIDENDS. DESCRIPTION. I Miles Date Size, or Amount pal, When Due. Par Outstanding Rate per When Where Payable, and by Stocks-Last For exp'a.nation of column headings, &c., see notes of of Whom. Road. Bonds Value. Cent. Payable. on first page of tables. Dividend. - - - - - - - -· New Yori~ Penn. ell Ohio-Prior lien bonus, goid,$& .£ 1st mort., "'Old (no foreclosure till 1 895,) $ & £ .. 2d mortgage, ~ncomes, $ & .£ .... ...... ... ..... .... 3d mortgage, mcomes, $ & £ ... . . ....... .. ........ .N. Y. Phila. cf: N01:folk--lst mortgage. gold .. ... ... . Income mortgage. non cumulative .... .... . .... . ... N.Y. Pitt8b urg & Oldc. - lst M., gold ($18,000 p. m.) N. Y. Proo. <1; Boston-(Stoningtonl-Stock . .... .... First mortgage . ......... . ... ...... ... . ....... ...... 1st mortgag-e (Stonington to New L_ondon) .. ...... N Y.Susqueh.cf: •Vestern- l st mort., :'.l!Hlland of N. J. 1st mort., gold ....... ........... . ................... Mortgage, gold, on Paterson Extension ... ...... . Debenture bonds . ... . ............... .. ... .. .. .. ... . Scrip for coupons (redeemable at option) ......... Car tru~t certificates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . N. Y. Tex ...l Jiex.-lst l\I., golci, I. f!. (for $8,000,000) N.Y. Woodh«ven cf: Roclcaway- Lst mortgage ........ 2dmorg .. ...... ..•• .. .. ........ .... . .. . ..•. .. ...... Niagara Bridge ct; Oana.irtaigua-St,ock .. .......... Norfolk Sl}nlheni-lst mortgage, gold ......... . .. .. 2d morr,c:age , income (not cumulative) . ...... .. ... Sinking fnnd debenture certificates . ..... .. . . .... . Funded iut bonds ($270,000 secured by coupons) Norfolk d: lles/er n.-Common stock .. .. .. .. .. ... .. . . Preferred (6 per cent) stock ........... ............. General mortgag, gold (for $11,000,000) ... .. .... ·1st M.,golrl. on New Riv. cliv, (cp. , but may berg.) Impro v. & Ext. mort., gold, ($8,00 0,000 author'd) Adjustment mort., gold (red'ble a.fter '94 at 110}. 427 460 460 460 ----.. .. ... .. 82 50 12 72 114 --- - .... . - -. --- - ·16 --- - 100 75 75 ---· fffo 510 428 80 510 510 -- -- -----· ·--- ·--- ---· g ---· ---- Gross earnings for one month f rom Oct. 1, 1885, $339,965 , against $306,734 ; not, $155,725 ; against it, 105,710. The operat ions of the Norwich & Wornester road are k ept sep'.trate. See annual report for year endin g Sept. 30, 1885, in V. 41, p. 686. Oper.ations, &c., tor three years past were : Av. Passenger Freight (ton) Gross Net Miles. Mileage. Mileage. Earnings. Rllrnings. Years. 1 881-82 ...... 380 55,853,672 103,668,653 $3,268,810 $909,194 1882-83 ...... 384 53,815,074 153,213,910 3,571,858 385,480 1883-84 ...... 382 54,299,316 138,534,292 3,362,032 420,406 1884-85 ...... 382 58,818,387 L07,639,953 3 ,288,946 1,081,366 -(V. 40, p. 28, 120, 152, 182, 269, 338, 363, 394, 425, 454, 508, 542, 569, 626, 652,717,742; V. 41, p. 24, 50, 76, 102, 134, 242, 273, 331, 357, 39~, 420, 4.63, 495,52 7,555,556,585,612,654, 686, 722.) Ne-w Yo1·k. Ne-w Haven & Harttord.-0wns from Harlem Juno N. Y., to Springfield, Mass .. i 23 miles; branches to New Britain, Middle. town and Su1Iield, 18 miles, leaseu-Harlem & Portchester RR., 12 miles; Shore Line RR., 50 miles; Boston & New York Air Line and branch, 54 miles; Stamford & New Canaan Road, 8 miles-total operated, 2 63 miles. This was a consolidation J uly 24, 1872, of the New York & New Haven and tho Hartford & New Haven r ailroads. The company uses the N. Y. & Har. RR. from WilliamsDridge into N. Y. City and pays a large rent tberefor. The company leases the Harlem Hiver & Portc.llester Railroad, and guarantees the bonds. In November, l.882, the lease of ti.l e N. Y. & Boston Air Line for 99 years at 4 pee cent per a11num on the preferred stock was made. In Sept., 1882, the stock of the Hart. & Conn. Val. ro11,d was purchased. In April, 1881, a controllin~ in• terest was bought in the N. Ilaven & Northampton RR. stock by parties in the interest of this company. In 18S3 the 01ortgag-e !or $5.000.000 at 4 per cent was authorized, to be issued as r equired in making improvements on tho main line. Fiscal ye::i.r ends September 30. Annual report was in V. 40, p. 60 . For the year enrliug Sept. 30, 1885, the totaJ income was $6,89~,824, against $n,8 7,2 5 in 1884; net earni!!gs, $:.?,271,838, against ;£2.059 ,012. See V. 41, p. 586. (V. 39, p. 580 ; V. 40, p . 60, 214, 588; V. 4.1, I). 162, 586.) ~e-w York 4;)ntal"io ~ Western.-0wns from Oswego, X. Y., to Middletown, N. Y., 250 miles; branches to CourtlaTtd, N. Y., 48 miles, to New Berl in. 22 miles to Delhi 1 7 miles; to Ellen ville , 8 miles ; leased-Midilletown to Cornwall and thence to Weehawken, 77 miles; total operated, 42 l miles. This was the New York & Oswego Midland. Main linewas opened July, 1871. Default was made in 1873. The main line was solcl in foreclosure November 14, 1879. The present company was orgauized January 22, 1880. From assessments about $10,000,000 was realized, the holders or firflt mortgage bonds taking new commoIJ stock without paying any a i;;sessment. and the bolders of receivers' certificates taking new preferretl stock. The terms of reorganization forbid the placing of a mortga~e ahead of these stocks, except by con ent of a majority of holders or both s tocks. Preferred stock to receive 6 per cent (noncumulative) rrom net earnings; surplus goes to common. In March, 188 3, dividends for two years were paid on preferred stock. In Aug., 1885, $:;.,20,1,000 of the µrer stock was bought for the purpose of controling·this company in the inter est of N. Y. Central & Hudson. In September, 1881, ag-reements were made with the New York West Shore & Butralo road. (See terms of alliance with the N. Y. W. Shore & Buf. below under title of that company.) 1n July, 18d4, an English committee examined into the aft'ai.rs of the Co., and effected important changes as per their report in V. 39, p. 1 82. Of the $4,0u0,000 of 6 p er cent first mortgage bonds $2,000,000 are deposited in trust t o r etire the preferred stock. A majority of stockholders assented to this issue of bonds, but there was some difficult.y about them. See V. 40, p . 4.81. In the year ending Sept. 30, 1884, gross earnings were $1,789,939; net, $35,305. See ann u a l report in V. 40, p. 119. (V. 39, p. 22, 182, 324, 454, 493, 733; V. 40, p. 119, 182, 481, 508; V. 41, p, 216, 242, 273, 603, 722.) New York /'.Pennsylvania & Ohio.-Owns from Salamanca, N. Y., to Dayton, 0., 388 miles; branches-to Oil City, 34 miles; to Silver Creek, 0., 2 miles; total owned, 424 miles. Leased linesCleve.& Mahon. RR., 81 m.; Nlles & New Lisbon RR., 36 m.; other small branches, 29 m.; total opernted, 570 miles. Changed to standard gauge June, 1880 . .Formerly Atlantic & Great Western Railway Sold July 1, 1~71, and leased t~ Erie on May 1, 1874, but lease not carried out Agam sold Jan. 6, li:!80, and reorganized by a London committee of ~tock and bond _holders. _( t ee V. 30, p . 143.J Five trustees exercise the votmg power of the new stock until the third mort. bondholders receive 7 per cent interest in cash durin_~ three years. The fl.rat mortgage bonds bear 7 per cent, whatever portion of this that may not be earned to be payable in deferred warrants, to be capitalized in bonds of the same class; payment of interest to become absolute not later than July 1, 1895, and until June 1, 1895, the right to foreclose phe m_ortgage is suspended. On the second and third mortgages there IS no right to so.e the company or to foreclose. The stock is-•preferred $10,000,000; common, $34,999,350. , F rom May l, 1883, leased to N. Y . Lake Erie & Western. The rental -will be 32 per cent of all gross earnings up to $6,000,000, and 50 per -cent of all gross earnings above $6,000,000, or lllltil the ~ross earnin o-s are $7,2-001 0001 and then 35 per eent of all earnings. But if 32 per cent https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -· 6 g. M.& S. London an<l ~cw York. March 1, 1895 1880 $500 &c. $8,000,000 7 g . J. & J. do do 1880 500 &c. 41,457,000 July 1, 1905 5 g. M. &N. do do May 1, 1910 1880 500 &c. 14,500,000 0,000,000 5 g. M.&N. do do Nov. , 1915 3 1880 500 &c. 1 ,848,1,00 1883 J. & J. . .......... Jan. 1,1923 .. ... ~ g. 1,000,000 Oct. 1, 1933 1883 ---·(1) 6 g. J. .&.J. New York Agency. July 1, 1921 1881 500&c. 3,000,000 2 Q.-F. N. Y., Central Trust Co. Nov.10,1885 100 ---1,000 1,000,000 J. & J. do July 1, 1899 1869 7 do 1,000 April 1, 1901 do 1881 300,000 4 A. & 0. do 3,500,000 1880 500 &c. 6 A.. & o. N. Y. , Nat. Park B ank. April 1, 1910 1,000 1 881 2,500,000 J. & J. Paid 12 cash, ½ scrip. July l, 1911 6 1,000 1881 250,000 6 1911 r. &D. 500 ti0 O,OOt> 6 F . & A. Paid ½·cash:¼ scrip. Aug. 1 . 1897 1882 (1) 1 885 6 1895 Q·uar. 1882-3 500&c. 923,772 6 1887-1893 6 g . A. . & 0. N. Y::sc>.°i:>ac. Co. 1882 500 3,000,000 Oct. 1, 1912 1,000 6 g. J. & J. 1882 599,000 Treasurer's Office. Jan. 1, 1902 1,000,000 100 1,000,000 3 A. & O. N. Y., Cent."RR: Office. Oct:· 1·,· •i885 ---1,000 1880 900,000 g. M . & S. Int.fund. from Sep.l,'84 Sept. 1, 1920 1,000 1,000,000 Yearly. Jan. 1, 1970 188L 1881 1,000 250,000 6 A. & 0. Int.ftmd: ii-oni s·ep.l,'84 Oct. 1, 1892 345,000 '80-'82 300 6 Various .............. lt:i92 & 1920 100 6 ,9·-I0,900 ........... Jan.':i5: ·1884 ..... 100 17,455,500 312·scrip. Q...:.:Mcb 6 g. M.& N . N. Y. and Phliaclelphia. May 1, 1931 1.000 6,699,000 1881 April 1, 1932 2,000.000 6 g. A. & 0. 1882 1.000 do do 1,000 6 g. F. &A. Compy's Agency, Phil a. Feb. 1, 1934 1883 2,106,000 1884. 1,000 1,500,000 7 g. Q.-M. New York and Phila. Dec. 1, 1924 Iofof $1,757,055 the gross earnings should ever be less than a specified minimum sum to be paid yearly. then the deficit is to be made up without interest out of the excess in any subsequent year. Out of tbe rental paid, the N. Y. P. & O. has to pay its int. and rentals, and for five years a payment of $260,000 a year t o the car trust. Ou.July 13, 1885 ,Samuel B: Dick was appojnted r~ceive1: by the Craw!ord Connty €ourt at Meadville, Pa., but tb1s i:ec01_vership Wl?-B at the mstanc~ of the McHenry party, and the U. S. C1rcmt Court discharged tbe r eceiver. . _ Earumgs for year endmg Sept. 30, l 884, $~,909,498;.. , net, $1,620.759; rental to N. Y. P. & 0., $1,391.039; loss to Ene, $270,2t:H. (V. 40, p . 28, 54 i, 742 ; V. 4 1• p . 76 , l0 2 , 161 , 473 -1 New York Philadelphia & NorColk..-Operates from Delmar, D el., to Cape Charles, Va., ~4 miles. and King's Creek, Md., to Crisfield, 17 miles; total, 1 Ll mile~. Succet1so1· of the Peninsula RR. Co. of Va..; Jan. 1 , l88-t, purchas d the Eastern Shore (Md.J RR., Delmar to Cris!:ield, 38 miles. Capital stoc_!r D}ec. 31_. 1884, $1,714,375. Gross earning§ m 1 884, $123,520; n et, $:,0,:....:,6; mterest on bonds, $55,920. A. J . Cassatt, President, Philadelphia. (V. 39, p. 654.) New York Pittsburg & Chlcago.-This was the projected line, from Red Bank, Pa., to Hlllltington, Inct .. and to Chicago, forming a western connection for the Central of N . J. The company was buildingfrom Wampum. Pa. to Mario11, 0., 165 miles. and t he whole route was to extend from New York City to Marion, o. Henry Day, N. Y., 1s trustee of the mortgage, an1. Gen . J . S. Negley, Pittsburg, is President. New Vork Providence & Bosto n .-0wns from Providence. R. I., to Groton, Conn., 62 miles; Warwick RR., 10 miles; Pontiac branch, 412 miles; 9perates also Pawtuxet ~ranch roads, 512 miles; total operated, 82 miles. Owns d m3ijori1;y int,erest in the P1·0, idence & Stonington Steamsll1p Line, which has a capHal of $1.400,000. Gr111>s ea1·nings iu 1883-84, $1,185,330, against $1,139 .886 in 188-1·~5; neL earuings, $457,675, ~ ainst :j;378,370. (V. 39, p . 681; V. 41, p. 720.) New York Susquehanna & Western.-Jersey City to Grave Place, 101 miles; Two Bridges, N. J .. to Unionville, N. Y., 21 miles; other branches, 12 mileR; leased- Unionville, N . Y., to Middletown, N'. Y., 14 miles; Lodi Br., 2 miles; Penn. RR. trackage, 2 miles; total, 152 miles. The New Jersey Midland was built as a conn~ctino- line of the New York & Oswego Midland, and went into receiver's h a nds :\larch 30, 1875, and was sold in foreclosure Feb. 21. 1880, and the Midland of New J ersey was organized. The New York Su quehauua & Western was a consolidation in June, 1881, of the Midland of New J ersey. the Pater son Extension, the North J ersey, the Pennsylvania Midland ancl the Midland Connecting railroads. Stock, common, $13,000,000; preferr1td (cumulative 6 per cent), $8.000,000. The amounts of stock were reduced in 1882 from $20,000,000 com. and $10,000,000 pref. Tl.le New Jersey Midland junior securities were exchangeable into stock of this compan y on certain terms, and the status of the exchanges up to Jan. 1, 1885, was st ated in the CHRONICLE, v . 40, p. 596. In ,Tau . and July, 1885, the holders of N. Y. Sns. & W. mortg. bonds and debentures were aslred to fund in scrip one•half of the coupons then due, the other half being paid in casll, and the same will probably be r equested fo r the J an. , 1886, co~pons of the same bonds. See report in CHRONICLE, V. 40, p. 596. Gross earnings in 1883 were $1,03 ~ ,656 ; net, $400,064; interest on bonds, $382,501). In lt<84 gross, $1,034,208; net, $ -Ul-l.520; intcr ast, rentals, &c., $519,192; deficit, $102,671. For ten months from Jan. 1 to Oct. 31, gross earnings w:ere $908,ti05 m 1885, against $849,249 in 1884; net, $4l9,113, agarnst $341,905. (V. 40, p. 2d, 182,241, 3301 596, 6 25, v. 41, p . 473, 586.) New York Texas & Mexican.- Line projected from Rosenburg Jllllction, Texas, to Brownsville, 350 miles. Completed Rosenberg to Victoria, 92 miles. Mortgage $22,850 per mile, covering 5,120 ac~s of land, being half o.l' the g-rant, which is 10,240 acres per mile, if it can be ootained. Stock, $2,000,000. In September, 11:!S"J, sold to So. Devel. Co. and is operated by the 8outhernPacitic. (V. 41, p. 273, 446.) New York Woodhaven & Kockaway.- 0wns from Glendale Junction, L . I., to Rockaway Beach, 11 miles; leased-Glendale to Long Island City, 6 miles; total operated, 17 miles. The stock js $1,000,000. Income bonus. 6 per cent. $1,000,000. A readjustment of the :finances took place in 1882, aP<l the new $601),000 tirst mortgage was issued and the $ 1,000,000 incomes were issued for the old mortgag8 bonds. In18R2-3 gross earnings were $148,614: net, $77,748 ; interesli and rentals, $75,569; in 1883-4, gross, $l49,420; net, $74,718: interest and rentals, $75,136. (V. 41, p. 720.) Niagara Bridge & Canandal gua.-0wns from Canandaigua to Suspension Bridge, N. Y., and branch, 100 miles. The road is leased in perpetuity to the New York Central & Hudson at $60,000 per annum, with right of l essee to commute by payment of a gross.sHm of $1,000,000. NorColk Soutbern.-Formerly the Elizabeth City & Norfolk. e changed Feb. 1, 1883. Owns from N orfoll,. Va .• to Edenton, 1"! ., 73 miles. Capital stock, $1.000.000. The holders ofe 1st mort and d ebenture bonds fonded their interest for five years, Sept. and Oct , 1884, to March and April, 1889, respectivlly. G-ros,i earnings in 1883-8!, $199,174; net, $57,144. Norfolk. & Western.-, See .J[ap.)-Owns from Norfolk, Va., to Pet ersburg, Va., 81 miles: Petersbi:nr y.,,_, to Lynchburg-, V'l. 1 '23 miles; Lynchburg, Va., to Bristol, 204 miles; branches-Petersb'gto City Point, Va., 10 miles; Junction to Saltville, Va., 10 miles; New River D ivision., https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis n / I, r ,/ '~ I , 1,)) / .~ C ./f ~/ ~ ~8 ,/8" i .~ •..,,W£P.,, ,i/.f ,,~/t J ,'o l ,/ff ~ y 1ity¥ ,,,,, / , , ", ., v 'I. / l: i' ,. ~ ,..~"- I.., , ~ ')' ~ MAP OF THE NO R BiO IL1 I[ AND WE-8T.1mRN RAILRO AD AND CONNECTIONS. DECE)IBER, RAILROAD 1885. J STOOKS AND BONDS. 6'7 Subscri bers will conCer a great Cavor by giving Immediate notice oC any error discovered In these Tables. Bonds-PrinoiDESCRIPTION. INTEREST OR DIVIDENDS. Miles Date Size, or Due. Amount Rate per When Where Payable, and by pal,Wnen of Par Outstanding .For explanation of column headings, &c., see notes of Stocks-Last Road. Bonds Value. on first page of tables. Cent. • Payable Whom. Dividend. - Norfolk & Western-( Oont·i nued >-Car trust ........ .. Convertible debent'res (red'ble on 30 days' notice) Norfolk & Petersburg--2d mort ................... South Side-lat pref. consol. mort. (6s, ext.in '85) do 2d do guar. Petersb'rg do 3d do ....... _......... Virginia & Tenn.-Enlarrd mort. (extend'd in '84) do do 4 h mortgage .............. North Oarolina-Stock, common .................... Preferred stock ..................................... Mort&rage bonds ............................. .. ..... North Pacific Ooast-lst and 2d mortgages ......... North Penns.11lvania-Stock, guar ........... . ....... 2a mortgage.································ · ······ Ge!leral mortgage bonil.s ........................... Bonds secured by $1,200,000 stock .........•..... Northeastern (S. 0.)-Stock .......................... ~!\!!~~1~~t ·.·.:·. ·. ·. :: :·.·.·.::·.::::::::: ::: ::: ::::: :::: Consol. mort., gold (for $1,836,000) . .............. Northern (Oal.J-lst mortgage ($6,300,000), gold. San Pablo & Tulare-1st mort. ($3,750,000) ...... Northern Central-Stock.......... . ................ lat mortgage, State (Maryland) loan ...........••. 3d mortgage, coupon .............................. Consolidated mortgage, gold, coupon ............. Consolidated mortgage, gold, registered ........•. C.:>nsol. general mort., gold, s. f., coup.,$ or £ .... do do gold, coup. $ .............. do do ... ......................... 2d general mort., "A," coupon (sinking fund) .... do '' B." coupon (convertible) ...... Union RR.. lat mortgage .... .. ...... . ... . ..... . . . _ ---- - -· - - - --·· ·si 133 133 133 214 214 223 223 223 76 88 56 ------- 140 102 102 -·-149 47 323 138 138 138 138 138 ---- 138 138 . ... Var's $ .... $1,239,468 1884 500 525,000 1,000 1868 496,000 1866 1,000 603,000 1866 200 &c. 488,300 1866 200 &c. 452,800 1,000 1854 990.000 1,000 1865 1,000,000 100 3,000,000 -··· ..... 100 1,000,000 '67-'68 500 210,000 1881 1,100,000 ·-·-50 4,399,750 .... ..... 500 &c. 1,500,000 4,169,500 ---isih .. ifo 1,200,000 899,350 1869 500 820,000 1869 500 322.000 1883 1,000 69-1,000 1877 1,000 3,904,000 1,000 1878 1,023,000 .... 50 6,500,000 1,500,000 i865 500&c. 1,126,000 1,000 1868 2.599,000 1,000 1868 205,000 1874•5 1,000 2.50f>,000 1876·7 1,000 1,987,000 890,000 ---· 1876 1,000 2,8.H,000 1,000 1876 1,000,000 . .... 500 &c. 900.000 ---- 75 niles; Flat Top extension, 7 miles. Total operated, 510 miles. Under con struction, Cripple Creek Branch, 7>0 miles. The Atlantic Mississippi & Ohio RR. Co. was a consolidation of Norfolk & Petersburg, South Side and the Virginia & Teunessee roads, in all of which the State ot Virginia had an interest for loans made to them. D efault on the Atlantic Miseissippi & Ohio consolidated t>onds was made October 1, 1873, and the road was sold in foreclosure Feb. 10, 1881, and was reorganized as the ~urfolk & Western. Of the general mort• gage, enough is reserved to ta.ke up prior liens. The dividends on preferred stock were suspended in 1883 to pay off floating debt. In January, 1884. the convertible dt bent ure bonds were issued for taking up the scrip of about $525,0, O issued for dividend on pref. stock. In Oct., 1884. the adjustment mortgage for :fil,500,000 was issued to fund float ing debt. and is redeemable after 1894 at J 10. The annual report for 1884, in V. 40. p. 623, hatl the following: The remarks of Mr. F. J. Kimball, the President, set forth very fully in his report the situation of the company and the result of its operations in 1884. He stated that " the decrease in revenue during 1884. as com• pared with 188 , is attl'ibutable to the falling off in the quantity of and earnings from through traffic, due to the general depression in blli!iness prevailing thruuJ?hout the country. The decrease in gross earnings from the through passenger and freight traffic of the company was $202,676, while the earnings from local traffic increased ~81,438; the ciecrea..•ed earnings of the company are therefore attributable to the through business. fhe gratifying increase in local traffic couthms the statement made in the last annual report that the growth of local busi· ness upon your lines may be considered as being permauent and continuous." * * * "Although the net iucome :resulting from the operatio·1s of your line during the year 1884 amounted to $240,858, the extraordinary demands of the year, allusion to which is made hPr{-inafter. did not, in the opinion of your board, warrant th, distribution of the same to the shareholders." For ten months from Jan. 1, 1885, gross earnings were ;::2,251,040, against $:,219,240 in 1884; net, .B895,248, against $963,611. The earnings and expenses for three years past were: 1882. 1883. 1884. Miles ow'd & oper'd............... 428 503 503 OperationsPasse.ngers carried... ....... .... .. 263,34 i 307,927 412,152 Passenger mileage ... .... ..•...... 14,915,267 16,285,288 19,213,251 Freight (tons) moved ............. , 609,727 797.255 892.512 Freight (tons) ruil'ge ..••.....•..••. 133,957,973 155,521,709 171,773,275 Earnings$ $ $ Passenger......................... 444,301 485,805 521,192 Freight . ... . . ... .•..•.••........•.. 1,842,383 2, L81,711 2,025,087 .Mail, express, &c ..... ·-··········· 143,055 145,260 161,875 Totalgrossearn's..... .... ..•. Operating expcnSl'.8. .. ..••... .. .. 2,429,740 1,3~2,576 2,812,776 1,509,J74 Net earnings .••...•...•. ..•.....•. Per ct. of oper. expen. to earn ..•. 1,107,164 54·4 1,303,202 53·7 INCOME ACCOUNT. 1882. ReceiptsN et earnings................ . ... .. Other receipts................ . . . . . $ 1,107,163 63,389 1883. $ 1,303,202 ---- ..6. 8 8&6 6 6 5 8 3 3 8 6 2 7 7 3 6 8 8 6 g. ~ g. 4 6 ~ g. 6 g. 6 g. 6 ~t12g. 5 6 --- New Y ttrk & Phila. M'nthlJ J. & . Philadelphia Office. .J. & J, N. Y. and Philadelphia. J. & J. do do J. & J, do do J. & J. do do do .J. & J, do J. & J. do do M. & 8. Company Shops, N. C. M. & S. do do 'M .&N, do do M.&N. Philadeiphia. Office. do do do do do do Q.-F. M.&N. ,J. & J . M.& 8. M."&.. s. M.& 8. .J. & J . -T. & J. A. & 0. J. & J. Q.-J. A. & O. J. & J. A. & O. .J. & J. J. & J. A. & O. J. & J J. & .T. ,T. & J . Vadous. Jan.15, 1894 July 1, 1893 1886 to 1900 1886 to 1900 Jan. l.'96-1900 Jull l, 1900 Mc . 1, 1900 Se1lt. 10, 1885 Sept. 10, 1885 Nov., 1888 Nov. 1. 1901 Nov. 25, 1885 May 1, 1896 1903 Se-pt. 1. 1905 In 1884-5 Sept. 1, 1899 Sept. 1. 1899 Jan. 1, 1933 Jan. 1, 1907 April 1, 1908 Jan. 15,1886 Irreueemable. April 1, 1900 July 1, 1900 July 1, 1900 July 1, 1904 July 1, 1904. Charleston, Office. do do N.Y., Jesup,Paton &Co. Centrnl Pacific RR. do do Baltimore & Philadel. Annapolis. Baltimore & Philadel. Baltimore. do London & Baltimore . Baltimore. Baltimore. .Tan: . "i,""i 926 do do Jan. l, 1926 Baltimore. -------- North Pennsylvanla.-O wns from Philadelphia, Pa., to Bethlehem, Pa., 56 l.Uilea; branches-Jenkint'n to Dela. River, 20 miles; Lansdale to Doylestown, 10 miles; Iron Hill to Shimersville, 2 miles; total, operated, 88 miles. The Northeast Penn. and the Stony Creek roads are operated under contract. In May, 1879, was lensed to Phil>iL. & Reading at d@7 p. c. on stock till 1883, and 8 per cent thereafter.-(V. 39, p. 96.) Northeastern (S. C.)-Owns from CharleRton, S. 0., to Florence c., to Sumter, S. C., 38 miles Total operated, 1-!0 miles. This company has earned the interest on its bonde , with a good surplus. Iu Nov., 1882, the above consol. mortgage was authorized, of which $1,142,000 to be held to retire debts of prior lien, and $694,000 issued for betterments. equipment, &c. In 1883-84 gross earnings were $569,470; net, $164,916; m 1884·5, gross, $570,058; net , $162,919. 8. C., 102 miles. Leased jointly, Lane, S. Northern CaliCornla.-Owns from West Oakland to Martinez, 31 miles ; Benicia to Snisun, 16 miles; Woodland to Tehama.. 101 miles; leased, San Pablo & Tulare RR.-1\'Iartinez to Tracy City, 47 miles; total operated, 19;j miles. Completed in 1878 and is leased to the Central Pacific till J an. 1, 1885, a t a rental of $47,500 per month for Nor thern and San Pablo & T. In 1884, reutal, $549,050; expense&, $139,145; profit, $.!OIJ,905. Rental in 1883, $i,33,000; expense&, $186,026; n et. $4.46,974. Int 881 8 per cent dividend 1mid; in 1882, 134; in 1883, 312. The Northern stock is $6,190,5< 10-a.uthorized, $8,400,000, and San P. &T. stock, $1,861,000. W. V . Huntington, President. San Francisco. Northern Central.-Owns from Baltimore. Md., to Sunbury, Pa., 139 miles; branch-Relay to Green Spring, 9 miles; leased-Shamokin \' ,,•ley & Pt:wsville RR., 28 miles; Ebnira & Williamsport Railroad, 78 nules; operated a\i cost-Chemung Railroad, 22 miles; Elmira Jefferson & CanandaiguaRR.,47miles-315 rulles; track of New York Lake Erle & Western used 7 miles; total operated, 323 miles. This was a consolid&t10n or several roads in Jan., 1855. Ihe terms of the several leases will be f ound under the names of the leased roads. In February, 1882, purchased at par the stock of Union Railroad in Baltimore, $600,000, practically making that road a pa1 t of the Northern Central property subject to its mort~ages. The consolidated general mortgage (gold) of 1874 was for $10,0uO,OOO to retil·e all prior bonds. Of the above bonda $2,505,000 are dollar or sterling, interest payable in London or Ba.ltl more, and the balance are dollar bonds. interest in Baltimore. Under the 2d gen. mort. of 1876 $1,000,000 more may be issued as Series C. $890,000 of the bonds due July I, 1885,were exchanged for 41sl per cent consol. bonds. The business of the company depends to a considerable extent on. coal traffic. The fiscal year ends D ecember 31, and the report for 1884 was in the CHRONICLE, v. 40, -p. 239. For ten months from Jan. 1, 1885, to Oct. 31, 1885,1 gross ea.rn.2,711,151 ill!l"S were $4,499,629, against $4,604,804 in 18134; net, $1,806,126, against $1,770,769 in 18!:l4. 1,516,858 lncome account for four years was as follows: 1,194,296 55·9 Recdpts1884. Net earnings .. ..... . $ Interest & divld'ds . . 1,194,296 Other receipts ....... . INCOME ACCOUNT, 1851. $ 1,656,254 151,570 109,630 1882. $ 1,957,852 203,156 80,812 1883. $ 2,2!56,525 241,914 4,929 1884.. $ 2,053,482 256,362 7,467 Total income ...... 1,917,454 2,24.1,820 2,503,368 2,317,311 $ $ $ $ Disbursements 461,761 4, /,256 557,313 472,093 953,436 Rentals l's'dlines,&c* 810,792 729,359 935,014, 881,180 88v,1'!75 895,730 Interest on debt ..... 525,000 600,000 520,000 444,~72 350,517 5208000 66,662 Divia ends ............ 8 7 6 of dividend ..... - - - - - ------- ------ Rate 46,511 41,130 154,270 54,218 Miscellaneous . . • . . . . .......... ............ 37,177 Total disbursements . ....... .. 1,329,35 ') 1,335.792 1,020,098 Balt. & Potomac int. . Balance* .................•........ def. 158,807 def.32,590 sur.174,193 1,963,286 Tot. di$bursements 1,809,935 1,956,673 1,999,623 * The accumulated surplus Dec. 31, 188!, was $513,390. 354,025 503,745 285,147 107,519 Balance, surplus ... (V. 39. p. 22, 7'!., 109, 128, 265, 382, 461, 493, 654; V 40, p. 28, 152. 2fi3, 270,426, 542,597, 623 ,652; V. 41, p. 24, 131,273,393, l73, ,;96, -586, Gl3, 6!:>4, 685, 688.) * Incluaes rent of roads and interest on equipment. North Carollna.-Owns from Goldsboro to Charlotte, N. C., 223 m. -(V. 39, p. 96,234.349, 461,606,734; V. 40, p. 93. 120. 239, 241,25a, 'l·he prope.rty was leased Sept. 11, 1871, to tue Richmond & Danville 270, 394, 542,569,653, 76:J; v. 41, p. 102, 242, 357, 496, 612.) Railroad :1 or 30 vears at a rental of $260,000 per year. Dividends of 6 per cent are paid on the stock, of which the Sl;ate of North Carolina holds Northern Ne,v Halllpshire.-Ow~sfrom Concord_, N. H., toWeet :$3.000,000, and the dividends thus received by the State are applied to Leban on N. it., 70 miles; branch, Franklin, N. H., to Bristol, N. H., 13 -.her bonds issued to the North Carolina RR. Earnings in 188~·84, $866,· miles ; total, 83 miles. Leased to Boston & Lowell a t, 5 pet· cent per ~26; net. $273.323; rental, $26u,OUO; profit to lessee. $13.323. year on stock. In 1883-J, gross earnings were $571,729; net, $171,602. North Pacific Coast.-Owns from Saucellto to .Moscow ~1ills, Cal., Tile only liabilities are a guaranty of $500,000 Oon col'd & Claremont 7 4 miles branch to San Rafael, 2 mHes ; leased. San Rafael to San H ail.roa d bonds, of which tile Northern RR. owns $200, f) OO. isee annual Quentin, 4 m ; total operated, 80 m. Stock, $2.500.000. Earnmgs in r1-port (V. 40. p. 683) as to certain litigation. (V. 39, p. 71; V. 40. p. ). 883, $382 960: net, $64,739. Gross in 188:J, $358 199 · net, $67,418. D2, 683.1 Totalincome ................. . Disbursementslnterest ........................... . Dividends ........................ . Extraordinary expenses ......... . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1,170,552 $ 1,303,202 ~ l,19!,296 $ -···--· 68 RAILROAD STOCKS AND BONDS. [VoL. XLI. Subscribers will conCer a great favor by giving Immediate notice oC any error discovered In these Tables. Bonds-PrillciINTEREST OR DIVIDENDS. DESCRIPTION. Miles Date Size, or pal,When Due. Amount Par or Rate per When Where P a able, and by Stocks-Last For explanation of column headings, &c., see notes or Outstanding Road. Bonds Value. Cent. Payable W om. on first page of tables. Dividend. 1 --- - - - - - - - - - - Northern Oe-ntral-(Oontinited)- Union Railroad, 2d mortgage ..•....•...........•. Nort!tern. N. H.-Stock .......... ...•... .. ......••. ... North.em of NetoJersey-Stock . ••..••..••...•..••. ••. . ... ·ss . --· !l6 21 1st mortga~e, extended ........................... 21 2d mortgage .................. .. ........... .. ...... . Nortlurnl'aciftc-Pref. stock(8 p. c., not cum't1ve) . 2,365 Coiliillon stock ............... . ...................... 2,365 Mortgage and land grant bonds, Missouri Div .... 205 Mortgage and land gr. bonds, Pend d'Oreille Div. 22:'> Cons. 1st M. ld. g., gold, $25,000 p. m., cp. or reg. 2,020 do 2d m., gold, land grant, coup. & r eg. All Dividend certificates . ......... ... . ................. .... Northern. Pac. Terminal Oo.-lst mort., gold ...... Northweste1'n Ohio-Stock ..••.. : .............. ... .... "79 66 Norwich cl Worcester-Stock ... ...... ................. 66 Bonds, coupon .................. . ................... Vgde11,sb1wg tt Lake Champlain-Stock ............. 122 Sinking fund bonds .................... . ... ........ . Mort~aae oonds (redeemable July, 1890) .......•. i"is Consoli ated mortgage (for $3,500,000) .......... 118 Income bonds, not cumulative .............. ... ..•. C>ltio Oc-nlrat--Riv. Div., tat M., gold, cp. or reg .... .... River Div., gold, incomes ... ..... . ...... ...... ..... Ohio & Mississip{:i-Stock, common ....... . ......... 616 Preferred stoc (7 p. o. yearly, cnmulativel ... .. . 1st general mortgage (for $16,000,000) ........... 624 1st consoli'lated mort. ($3,44,1,000 ares. f.) ...... 393 Consolidated mortgage, sterling ........... . ....... 393 ---- $500&c. 100 100 100 &c. 1869 100 &o. 100 .... 100 -··· 1879 100 &c. 1879 1881 1,000&c 1883 l,OOO&c 1883 1 883 1:000 $600,000 6 g. 3,068,400 3 1,000,000 2 168,000 6 200,000 7 38,392,';83 111 10 cert 49,000,000 2,233,500 6 3,240,000 6 44,028,000 6 g. 18,857,000 6 g. 4,64.0,821 6 3,000,000 6 g. .... 2,000,000 ·ioo 2,604,400 1,000 400,000 6 100 3,077,500 2 -- -· 1,000 1870 380,000 8 1,000 600,000 1877 6 2,305,150 1880 500 &c. 6 1880 100 &c. 999,750 3&6 (1) 1,000 1882 6 g. 1,000 ( 1) 1882 6 g. 100 20,000,000 ··a½} 100 4,030.000 iss·2 1,000 3,216,000 5 1.000 6,601,000 1868 7 £200 112,000 1868 6 g. is1s i877 .... --~r .,. M.&N. London & Baltimore. 1900 &D. Bost.,Conc'd or Leba n'n D ec. 1, 1885J. & J. New York Office. 11) 1885 .,. & J. J. City, Hudson Co. B'k . M. & S. do do . .......... .... Jan. 15, 1 883' Dec. 1, 1933 M.'&.N. N. Y ., ·Mills.Building. May 1, 1919' l\:l.& s. do do Sept. 1, 1919' do J. & J, do Jan.1, 1921 A. & 0 do do Dec.1, 1933 do Jan'y. do Jan. 1, 1888 J. & J. N.Y., Winslow, L. & Co. Jan. 1, 1933' J~.~ii.1f339 ... . J. & J, Boston: 2d NationalBk. J a n:·i·o;·is86- M.& S. Boston, N. E. Trust Co. March 1, 1897 J. & J. Boston, Office. July 10, 1876 M.& s. do Mar., 1890 J. & J . do 1897 A.. & o. do April 1, 1920 no April, 1920 A.. & o. M. & S. Last paid, M11,rch, 1883 . March, 1922 Mar. 1, 1922 ······---·-·· M.'&. s. J. &D. J. & J. J. & J. N.Y., ·:ff Pine ·street. New York, Offi ce. do do London. Mar.-·i;·i87 6 June 1, 1932 Jan. 1, 1898 Jan. 1, 1898 Northern oC Ne-w .Tersey.-Owns from B ero-en, N. J., to Spar-I OPERATIONS Mrn FINANCIAL CONDITION.-Gross earnings for four ll:ill,N. Y ., 21 miles; leased Sparkill to Nyack, 5 miles; total oper- monthsfromJulyl to Oct. 31 were $4,718,540, against $4,753,111; ated, 26 miles. This road was opened October 1, 1859. By contract n et, $'l,616 , 25, agllinst $2,454,555. The fiscal year ends June 30. The of April, 1869, it is operated by New York Lake Erie & Western at 35 per annu:11-r eport for 1884•85 was published in V. -U , p . 329, and had the cent of its gross earnings. It is understood the contract is terminable followiug statement of earning-s, by either J_>arty on notice. Dividendi; are paid as earned on the rentfl.l. 1 881-82. 1 882-83. 1883 -84. 1 884-85 Gross receipts in 1883-4, $296,HO; n et, $~0,009; interest and rentals, Miles op e r'd June 30 1,298 1,701 2,547 2,668 $35,105; dividends, $35,000; surplui,, $9,E94. (V. 39, p. 48.) Earnings$ $ $ $ Northern Paclfic.-(See Jfap.J-LINE OF ROAD-On June 30, 1885 Passe nger............ 1,302,261 2,099,746 4,23?,~59 3,075,882 the mileage was made up as follows: Main line-~orthcru Pacific June- Freight . • - • • • • • • • • • • • • 3 ,909,~23 5,40~,08 t 7,~6:J,367 7,446,266 tion, Wis., to Wallula Junction, Ore,gon. 1,651 miles; Duluth to Northern Mail, exprees, &c. •·· 218, 0 21 346,632 500,949 712,001 Pacific Junction, 23 miles; Northern Pacitto Junction to Asb.land, 88 - - - - -· - - - - - miles; Portland to Columbia River, opposite Kalama, 38 miles; Kalama Total. .•. •········ 5,430,305 7.8='>5,459 1'2,603,575 11.234,14.9 to Tacoma, 105 miles; cascade Branch-Tacoma to south Prairi e, Operating expenses. *3,572,839 ..5,336,930 7,177,754 6,196,300 26 miles; Pasco, on main line, to Natchess River. 91 miles, total of main - - - - - - - - - - - - ,- ,;., _,> - - - - - 5 42 .., 8 2 line and Cascade Br., 2,02~ miles. Payallup Jun ction to Stuck Junction, Net earnings......... 1,857,466 2,51~,529 5,037,84.9 Fields, 10 miles; total owned, ~,0-17 miles. Leased-Brainercl to Min" Includes rentals. neapolil'l, 127 miles; Minneapolis to St. Paul, 11 miles; Little Falls & INCOME ACCOUNT. Dakota RR., 88 miles; Northern Pacific Fergus & Black Hills RR., 117 1883-84. 1884-85 . miles; Farg-o & S outhwestern RR., 87 miles; San. Coop. & Turtle Mount. Net eamings . ........ . ........................ $j,4:l5 .822 $5,037,849 :RR., 36miles; Jamestown & Northern RR., 64 miles; Sykestown Brauch Adju trne nt of accounts & interest balance. 39.89~ 24,553 :RR., 13 miles; Rocky Motmt RR. of Montana, 52 miles; H elena& Jt:ffer- Dh' idenns on investments . ......... .. . ...... 38,973 1½7,359 son Co. RR., 20 miles; total leased, 547 miles; total owned and leased, General interest account ..•...•......•....... 21,310 2,547 miles. The road from Thompson Junction, Minn., to Dulut h is owned jointly with the St. Paul & Duluth. (jonstruction in progress in Total. ..................................... $5,504,693 $5,231,071 "\Visconsi n andCascade divisions in September, 1885, 93 miles. DisbursementsORGANIZATIO N.-This company waR chartered by act of Congress July Interest on funded d ebt ..................... . $3,535,038 $4,123,949 2, 1864, to bw..ld from Lake Superior to Puget Sound and Portland, Or. Rentals .. ..................................... 412,401 5 8 1,144. The land grant was 20 sections per mile rn States and 40 sections in Guarantee to branch roads ........ . ........ . 352,154, ··s·,9s"i Territories. The road was opened 450 miles west from Duluth-to Bis- Uoutributions to sinking fund . . ............ . 50,376 marck, on the l\fissouri River- in 1873. The company defaulted Jan., Balance general interest account . ... ....... . 318,28-l ··4j47 1874, and the road was foreclosed August 12, 1875, and reorganized by Opening- celebration ... ...........• ..••..• •. . 179,381 the bondholders' committee Sept. 29, 1875. To the bondholders new Miscellaneous . .............................. . 27,341 preferred stock was issued at the rate of $1,400 for each $1,000 bond and overdue interest. Total s . ... . ~---·--·· ---··--··••H•--·· ··-- · $4,4.49,035 $5,139,111 $91,960 STOCKS AND BoNDs.-The preferred stock was issued to old first mort- Balanct>, surplus ........ . ..... .. ...... ....... $1,055,658 gage (7-30) bondholders for their bonds and overdue interest, and has a -(V.39,p.3.11,22,48,62,182,227,297,309, 322,324,338,349,393, preference for 8 p er cent in each year if earned, but is not cumulative. 410,493,617,654. 727; v. 40, p. 28,152,164,183, 2·-H, 304. 33~, 427, The common stock then takes 8 per cent, and after that both share alike. 522, 542,626,637,653, 717,7jl,763; V.41,p. 50,102 .146,161, 216, The preferred stock claim on net income i~ only subject to expendit ires 254, 273, 307, 329, 331, 393, 473, 496, 527, 557,612, 654, 685, 7:22. > for new equipment. The preferred stock is received in payment Northern Pacldc Terminal Co.-This company owns terminal tor the company's lands east of the Missouri River at par and the pro• facilities which are leased for fifty years to the N orthern Pacific RR., ceeds of the lands when sold i'or money or on time also go to the retire- the Oregon Railway & Navigation Co. and the Oregon & California RR., ment of preferred stock. with a imarantced rental sufficient to pay interes t, sinking fLmd and A large interest in the stock ($9,075,001) pref. and $11,211,900 01' taxes. The sinking fund begins in 1893 and is to be sufficient to retire oom.), in August, 1 885, was held IJy the" Ore. & Trans-Continental Co.'' the bonds by maturity. The stock of $3,000,000is owned by said three In Sept., 1882, a dividend,in oertifioatesof 111 10 per cent, amounting companies (40 per cent by Oregon & Navi~atioi; Co., 40 per to $4,667,490, was declared on the pref. stock payable Jan. 15, 1883. cent by Northern Pacific and 20 per Railway cent by Orn~on & California RR.), Prices of preferred stock since 1879 have been: In 1880, 393s1ii6712; and held by Central Trnst Co. of New York, to oe delivered after payIn 1881, 64 1 s1};881s; in 1882, 66:\1. 7tl003s; in 1883, 49:\1. '@9058; in 1884, ments to the sinking fund which is to cancel the )rnnds. 37¼1il5711s; in 1885, to Dec. 18, 36¼1il653s. Common stock: In 1880, North-western Ohlo.-Owns from Toledo Junction to Toledo, o .• 20'@36; in 1881, 32~1i>51; in 1882, 28~'@543s; in 1883, 23 1 9'@53'-s; in 80 miles, and leases 7 miles. from l\fanstield to Toledo Jun ction. This 1884, 14w27; in l ts8 fi, to Dec. 18, 151il3LJ.4. The consol. first mortgage bonds are a tirst lien on the main line; and was a consolidation of the Toledo Tiffin & Eastern, the Mansfield Coldwater &Lake Michigan and the Toledo & Woodville roads. L eased to on all the lands of the company except those subject to the two divisional inortga~es and those lands east of the Missouri River which are subject to Pennsylvania Company at cost of operating. In 188 3 gross earnings $282,304; deficit, $49,749. In 1884 gross, $266,278; nP;t, $26,108. ~e preferred stock. The issue of bonds is limited to $25,000 per mile. The proceeds of land sales can be applied to the payment of interest on Norwich. & Worcester.-Owns from Norwich, to Worbonds, instead of principal, if the earnings of the road are insufficient. cester, Mass., 59 n.iles; branch: Norwich to Allyn's Conn., Point, 7 miles; Central Trust Co. of N. Y. is trustee. The bonds are 1·eceived in pay- total, 66 miles. Operated ander temporary lease by N. Y. & New Engment for lands at 110 and interest, and proceeds of land sold must be land Railroad. In February, 1885, it was voted to reduce the rental applied to redemption of these bonds at a price not exceeding 110 and to 8 per cent. In the fiscal year ending Sept. 30, 1885, the gross receipts inrerest. Sinking fund of one per cent pe1· annum begins in 1886. The were $750,481; net, $3~2,4.93; p ayments for rentals. $4.0,050; interest. total issue of the Missouri Division and Pend d'Oreille Division bonds $24,895; dividends, $2;:i3,802; surplus, $i4,245. (Vol. 4.0, v. 241; V. 41 was $6,480,300, against which are reserved a like amount of the p .506.} , lforthern Pacitto first mortgage bonds. Oa-densburg & Lake Champlaln.-Owns from Rouse's Point, In Oct., 1883, the 2d mort. was authorized for $20,000,000, of which $15,000,000 were taken by a syndicate at about 8212 net to the company. N. ,., to Ogdensburg, N. Y., and branch to Maquam, Vt., 130 miles. LANDS.-The land grant of the company was 12,800 acres per mile in Gross earnings 1883·4. $595,320; net, $212. 2 0 2. In 1882-83 gross earnStates and 25,600 acres per mile in territories, and the lands earned by ings were $642,196; net, $191,438. ,v. 39, p. 348; V. 40, p. 61,183, construction to June 30, 1885, were estimated to be about 43,200,000 270,361,588; v. 41, p. 101, 496, 654.) acres, of which about 37,731,220 r emained unsold. The lands Oh.lo Central.-lRiver Division.)-This road extends from Corning, east of Bismarck (Minn. and Dak. Divs.) are pledged to t,h e pre- O,Ohio, to the Ollio River at a !)lace opposite to Point Pleasant, 6~ ferred stock, and that stock is received in payment therefor. 'l'he miles (including lJranches), and from Point Pleasant to Charleston, West general mortgage bonds cover all the othtw land!!, the divisional mort- Va ., 58 miles; total line, 126 miles. The stock was $22,000,000-par gages having prior liens on their respecth'-e divisions. For tile fiscal $100. year, 1884-5, s2:1J.es were 344,557 acres and amount (If sales (including On September 1st, 1883, default was made on the interest of the River town lots, &c.), $1,739,420. The following shows in detail the sales of Div. mort. bonds, and Jan. 1, 1884, default on the O. C. ,st mort. bond~, land for the fl.seal years ending June 30, 1835 and 18d4: and receivers were appointed. The main line, Toledo to Corning, and LAND SALES BY .FISCAL DIV!SlONS. Columbus Br., were sold April 15, 1885. 1See Toledo & Ohio Central.) ,.... Yr. end'g Jnne 30,'84...... ,-Yr. end'g June 30,'85 ........ Plan for the River Division was mentioned in V. 4.0, p. 356, embracmg Divisions. Acres. Amount. Acres. Am0tmt. tht, proposed issue of a new 1st morte:a~e at $ 10,000 per mile, 1st pref. Minne,;ota & Dakota .. 22J ,912 $1,0~5,890 180,361 $1,080,874 stock or $6,000.000, 2d pref., $!,Ou0,000. common. $2,200,000. The Missouri..... ......... . 46,48 J 148,058 14,070 39,494 old first mortg. bonds paid 2 per cent assessment and took lilt pref. Montana & Pacific .... 107,355 467,337 103,425 38 .!,832 stock ; incomes paid 10 per cent assessment and got 2d ,,ref. stock; o. Pend d'Oreille ........ 102,366 472,756 46,701 179,530 C. common stock paid 1 per cent assessment and got one shar e of new ----common stock for ten of old; for all or the <'ash assessments paid new Total .............. 478,116 $2,184 ,041 344,557 $1,682,730 1st mortg. bonds were given. Sale occurred Octobflr 2:l, 1885. (See v. For four months from Jul,r 1, in 1885, land sales were 166,1~6 acres 41. p. 4 73.) (V. 40, p . 1~3, 208. 241. a;-rn, 481, 542, 597, 610, 626, or $66~,567, including town lots. 653; v. 41, p. 24, 20,, 243,357,438,473,496, 603.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ---- r:n ~ 0 0 ~ r:n MAP OF THE --, 10 00 00 .--i https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis NORTHERN PACIFIC , RAILROAD, ~· ~ BRANCHES & ALLIED LINES. Railroad• projut«l'rw in progr~• • 11 r r tJ ~ RAILROAD STOCKS AND BO.NDS. 70 (VOL. XLI. Subscribers w-ill confer a great Cavor by giving lm.m.edlate notice oC any error discovered In these Tables. Bmuts-.l'r1nclINTEREST OR DIVIDENDS. DESCRIPTION. When Due. Miles Date Size, or Amount Rate per When Where PWiiable, and by pal, of Stocks-Last Par Outstanding For explanation of column headings, &c., see notes of Cent. Payable om. Dividend. Road. Bonds Value. on first page of tables. - - - - - --- Ohio ti Mississippi-(Oontinuea;- 2d consolidated sinking fund mortgage._ ......... Spring. Div. (Sp.&Ill. SE.) lstM. (for $3,000,000). Ohw Soitlhe1·n-lst mort. ($15,000 per mtle) ........ 2d mort., income ($15,000 per mile) .......•.....•. Old Oolony-Stock . .................................•. Bonds (not mortgage) coupon and registered ..... Bonds do ilo do .•... do do do Bonds ····do ...... Bondii do do do Bonds do do Bonds for Framinirham & Lowell bonds .... . : : : : : Bonds of 1884 . _..-. _...................... .. ........ Bost. Clin. F.& N. B., mortgage bonds 1869-70 .. . do bonds ... . . .... . --··-··· ....... do mo1;f.age bonds .......... __ . Oreqon it Oalifornia-lst ., ,g;old ($20,000 p.m.) .. 2d mortgage, $10,000 per mile ... . ................ Oregon Pa(?ific--lst !fiO~-t., l_and §rant, gold ......... Or:l'con Railway & Ji amgation- tock ... _........... ortga,:i;e bonds, gold. ____ ---····· ................. D ebenture gold loan, coupon ................... _•. Consol. mortg11 ge, golo, $25,000 per mile._ ....... OregonShortL.-lst,~ld.,int.gu.byU.P.($25,000p.mJ Oregon& Trans-Oontinentat-St'ck(for $50,000,000} Trust bonds, gold (1st M. collateral) $20,000 p.m.. Oswego & Rome-lat mortgage guaranteed _______ __ Inoome mortira,ge bonds _______ ...... ---·-·· ... ____ Convertible bonds .••......•....... . ................ 393 222 132 132 469 1871 1874 1881 1881 .... -··· ---· 1882 1884 1884 '69-'70 1874 1880 1881 1883 1880 ..... is10 ..... i874 ..... 1875 .... 1876 .... - 1877 43 58 120 451 451 657 ---- 657 610 1884 1885 1882 497 iss2 2812 1865 1866 1866 ..... ....... A. & O. $1 ,000 $3,785,000 7 New York, Office. April, 1911 M.&N. Springfield, m .. lst N. B. Nov. 1, 1905 1,000 2,009,000 7 1,000 :l,100,000 J. &D. N.Y., Corbin Bank'g Co. June 1, 1921 6 J. &D. 1,000 2,100,000 6 do June 1, 1921 100 10,848,620 312 J. & J . Boston, Office. Jan. 1, 1886 1,000 1,692,000 M.& S. 7 do March 1, 1894 1,000 J. &D. 500,000 6 do June 1, 1895 1,000 1,100,000 M.& s. 6 do Sept. 1, 1896 1 ,000 2,000,000 F. & A. 6 do Aug. 1. 1897 1,000 200.000 do 412 J. &D. Dec. 1, 1897 1,000 416,000 do 412 1904 --·· 1,000 750,000 4 do 1904 500 &c. 491,500 J. .& ·J. 7 1889 & '90 d.o 1,000 400,000 J. & D. July 1, 1894 7 do 1,000 1,912,100 J . & J. Boston, N. E. Trost Co. ,lan. 1, 1910 5 1,000 9,0~0,000 6 g. J. & J. Last paid June, 1884. July l, 1921 1,000 (1) A. & 0. Last paid Oct., 1884. April 1, 1933 7 1.000 25,000p.m. 6 g. A. & O. NewYork and London. Oct. 1, 1900 100 '24,000,000 1½&12ex Q.-F. N.Y., Farm. L. & Tr. Co. Jan. 2, 1886 1,000 5.690,000 6 g. .J. & J . July 1, 1909 do do 1,000 5,000,000 7 g-. A. & O. New York or Boston. April 1, 1887 1,000 3 ,000,000 5 g. .J. & D. June l, 1925 New York .Aif..-ncy, 1,uoo 14,495,000 F. & A. N. Y., 40 Wa Street. Feb. 1, 1922 6 100 40,000,000 Q.-J. Oct. 15, !.883 112 1,000 9,953,000 6 g. M.&N. N.Y.,Farmers'L.& T.Co. May 1, ...922 1,000 350,000 M.&N. N.Y.,Farmers' L.&T.Co. May, 1915 7 1,000 200,000 F. & A. N. Y., Central Trust CoFeb., 1891 7 ..... 107,000 . ... 7 2866 --------·· . Ohio & Misslsslppl.-1See Map of Baltim,,re & Ohio.) - Owns from Cincinnati, Obie, to .r.:ast St. Louis, n1.. 338 miles: Louisville branch, North Vernon to .Jeffersonville, Ind., 53 miles; total Ohlo & Miss. line, 391 miles; the Springfield Division, Beardstown to S awneetown, Ill., 225 miles; total operated, .616 miles. The Eastern and Western divisions were sold in foreclosure and the Ohio & Mississipni Co. formed by consolidation Nov. 21, 1~67. On Nov. 17, 1876, the company was olaced in the hands or a raoeiver. The r ereiver was q.i.- ch 1rged in April, 1884. In December, 1884, the conflicting interests in the directory were harmonized. The new general mort~age for $16,000,000 was authorized under the plan of reorganization, by wldch $12,784,000 was reserved to exchange for old bonds as they mature; $2,216,000 used in paying overdue coupons and all other claims; and $999,695 expended tor new equipment ;md terminal facilities. The terms of preference of the J.1reterred stock state that the holder thereof shall be entitled to receive from net earnings of the rompany 7 per cent per annum, and to have s 1cb interest paid in full for each and every year before any payment of dividend upon the common stock. For ten months trom Jan. 1, 1 805, gross earnings were $3,064.750, against $3,143,850 in 1884; ntt, $854,329 in 18~5, against $668,318 in 1884. For three calendar years the net earnings were as follows: 1881, $959,053: 1882. $1,061.663; 1883. $9..;i0,321 ; for year 1~84-5 (endmg June 30) gross, $3,641,467; net, ~974,731. -(V. 40, p. 742, 763; V. 41. p, 24, 102, 161,242,273,357,420,446, 527, 654, t:i88.) Ohio Soutllern.-The road will extend from Springtleld, Ohlo, to some point on the Ohio River. Length of road completed and in operation Dec., 1884: Springfield, Obio, to Wellston., with extensions and branches, 132 miles. Stock (par $100), $3,840,000. Gross f-arninf5'S in 1884,$473.001; net, $141,314; interest paid, $116,100; anscellaneous, ~4,539; surplus, $20,675. Gross in 1883, $364,091 ; net, $117,106; r ental, $1,014; 1nterest on debt, $115,200; surplus for year. $ 599. Alfred Sully, President. Old _C olony (~ass.)-9wns from Boston to Prov1ncetown, Mass. 120 1Liles and lines to Kingston, Plymouth, Somerset Junction, New Bedford, Low<>ll and Fitchburg, Mass., and to Newport, R. I.; total, 369 miles; numerous branches, 85 miles in all; leased-Fall River Railroan, .12 ~lies; Dorchester & Milton Railroad, 3 miles; total length of all lines, 469 miles. Fall River Railroad was leased .April 1, 1882, for 99 years. In March, 1883, consolidation with the Boston Clinton Fitchburg & New Bedford was made and an increase of stock to $12,000,000 was voted. In May, 1884, the Lowell & Framingliam was absorbed on the terms given in V. 3~, p . 540, and the 4 12 per cent bonds of 1 884 were issued. The annual report for 1884-85 was in V. 41, p. 526, and ha<l the following: rnCOME .ACCOUNT 1881-82. 1882-83. 1883-84. l!i84-85. $ $ $ $ Gross earnings ... . . . J,126,258 4,249,179 4,191,872 4,251,186 Net earnings ....••. Other receipts .••... J ,305, 44 9 77 ,498 1,228,441 74,ti76 1,'.: 9 6 ,503 68,998 1,281,056 7::i,33-! Total inc< me .••. 1,38 7. 947 $ 449,:',88 34f>,'208 489.fl97 ti½ 9f2,454 1,303,117 $ *191,001 ~44H,476 *60~,006 7 57,634 1 ,365,501 $ 46,614 55fi,866 723.989 7 33,032 1,360,390 $ 45,594 !'>51.424 738 122 7 25.250 1,382,947 l ,R03,ll 7 1,365,501 1,360,390 Net r1,ce1pts- Disburslmen ts- Rentals pain ....... . rnterest on tlebt.... . Dividends.--···-· .. . Rate of di,idend .•. Improvem't account Total disburfle'ts ----- * Consolidated with Boston Clinton & Fitchburg RR. in 1883. -(V. 39, p. 620; V . 41, p. 526 .) ~regon & Callfornla.-From Portland, Or., to .Ashland, 341 miles; Albany ~unctio~ to Lebanon, 12 miles; West Side Division, Portland to Corval11~, 97 rmles. To~al finished, 451 miles; to be completed to a jun~t10n with fentral P!J,ciflc at ~he California State line, the gap t.o be finished on thls road bem,g 28 miles. and on Cen. Pacific 97 miles. The present Oregon &. California RR. is a reorganjzation of the original Oregon & California, which company was in default after 1873. The land grant is 3:bout 4,000,000 acres; bonds are receivab.le for lands. Preferred stock 1s $12,000,000; common $7,000,000. In January, _1885-1 default was made and rece,iver was appointed. Foreclosure smt unner the mortga,ges was begun by t he Farmers' Loau & Trust Co.., trus~ee. rn May, 1885, a plan was adopted in London for ama1gawat10n with Central Pacific before Ju1y, 1886, by an exchange of 0. & C. ~t ock for C. P. stock on the following terms: One !"hare o~· Cent. Pac. for every two shares of 0. C. preferred paying all asseAst of $4 p er sha, e; also one share of Cent. Pacific for ever y four share"" o.t 0. C. common paying an a~sessment of $3 11er share; also new bonils to be issm:'d by C. P . in place of ,h,.. O. & C bonds, in tbe proportion of $1,150 in n.e w C. P. bonds for each $1,000 of O. C. oond,;,, the new c. P. bonds to draw 3 per cent for two years and f per cent afterward. For year 1884 gross earnings were $1,014,427; net, $140.765. (V, 40, p 61 92, 120, 152, 183, 454, 481,588; V . 41, p. 331, 473.) Oregon Paclfic.-Road in progress and 70 miles, from Corvallis to -Yaquma, on Yaquina Ray, completed in October, 1884. Land grant, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ----· -- over 900,000 acres, and covered by first mortgage. Stock is $30,000 per mile. T. E. Hogg, President, Corva·us, Oregon. N. Y. Office, 45 William Street. (V. 39, p. 297, 707; V. 40, p. 183, 764.) Oregon Kall-way & Navigation.-July 1, 1885. railroads operated were as follows: Portland to Riparia, 301 miles; Bolles Junction to Dayton, 13 miles; Wa'la Walla to Blue Mountain, 20 miles; Peudlekn to Centreville, 17 miles; Palouse .Junction to Colfax, 89 miles; Umatill:t to Huntington, '217 miles; total, 657 miles. Ocean line between San Francisco and Portland, 670 miles ; Puget Sound lines, 275 m.; River lines. 363m.; to ~r- l -. 1.rwaterlines, 1,308 miles. The company pursuAd the pol~cy of mcreasing its capital stock to raise money for nnprovements, and m a few years the amount was raised from $6,000,000 to $24,000,000. In June, 1885, the con sol. mortg. was m:ide at the rate ••f $2:'i,000 per mile and $6,000.000 reserved to t ak~ up the old mort. bonds. The Farmers' Loan & Trust Co. is the trustee. In March, 1881, a majority of the E<tock of this company was transf0rred to the Oregon Trans-Coni inental Company, and after Nov. 1, 1885~ that Company held 13fl,413 shares. Tbe annual report for the year ending June 30, 1885, was in the CHRONICLE, V. 41, p. 609. The income account was as follows: !~COME ACCOUNT. 1881-82. 1882-83. Receipts$ $ :S-et eartlill!?S .. _..... 2,335,489 2,~94,046 Other receipts ....... 180,725 95,167 Total income ..... _ isbitrtements- Rentals paid.·-······ rnterest on debt .... Dividends . ....... •• Rate of dividend ... Mis. and sink. fund. Total disb'ments . Balance, surplus ... 1883-84. $ 2,393,450 301,444 1884-85. $ 1,482,760 138,903 ----2,516,164 -2,489 - -213 - 1 12,760 444,743 1,296.000 (8) 1 3,600 145 429 444,270 1,584,000 (9) 79,230 354,180 440,160 1,800.000 (712) 79,855 1,867,103 649,061 2,252,929 *226,284 2,674,195 1,852,343 120,699 Def.230,680 ----- ----- 2,694,894 ----1,621,663 124,087 529,165 1,080,000 (412) 119,091 - ----- * Adding bonds retired by sinl;ing fund during the year makes surplus $63,000 l:lrger thnn here given. t Deductin~ $91,000 for depreciation of F<teamers lPaVPS a d .. fic1t fot the year of $7u,300. -(V. 40, p. 152, 270, 356, 481, 54.2, 570, 588, 685,742; V. 41, p. 102, 273,496, 609, 613, 721.) Oregon Short Line.-Road from Granger on the Union Paciflo (156 miles east of Ogden) to a j unction with the railroad of the Oregon Railway & Navigation Co., at Huntington, Oregon, 540 miles, with Wood River branch to K etchum, 70 miles. Total 609 miles. The connecti0n throug-h was m.ade in November, 1881. Built Hnder Union Pacific control, and interest on the bonds guaranteed. The stock is $12,372,000. Union Pacific owns $6,314,000 stock and $2,195,000 bonds. Gross earnings in 1884. $1,059 .200; net $403,643; iuterest and taxPs, $809,547; deficit, $!-16,600. For ten mouths from Jan. 1 to Oct. 31, 1885, gross earnings were $1,499.926, agairst $771,778 in 18!<4; n et, $479,59 t, againF<t $137,089 in 18 4. (V. 39, p. 209, 265, 34.9, 482; V 40, p. 718,764; v. 41, p. 103, 216,331,446, 722.) Oreo-on & Trans•Contlnental.-Company organized under the laws of Oregon on .June 27, 1881, and received from the "Villard Pool" an assignmer..t of the stock of the Northern Paci.tl.c Railroad purchased by it. The company's o~ject was to hold the stocks of the Oregon Railway & Navigation Company and the Northern Pacific, and to con struct connecting roads. · In the CHRONICLE of .Aug. 15, 1885 (V. 41, p. 190) there was a statement of the 0. & T. assets. The status of the company was given in the President's cirr·ular of Nov. 11. 1884 (V. 39, p. 545), showiog a floating debt of $10,635,500, and stockholders were then· asked to subscribe for a loan of $01,000.000, of wllich a large part was taken. The option was also gi,en to the lenders to buy certain shares of 0 . R. & N. Co., and of No. Pac. common and pref., at prices namefl, ,,nor before Nov. 1, 1885, with tbe result 1-tated in V. 41. p. fi5 7. The 0. T. Co., a fter these shares were called, yet held about 139,413 shares of 0. R. & Nav. Co., 56,730 of N. Pac. pref. and 79,:121 ot N. Pac common. rn Dec., 1885, the company arranged a new lo~n for $4,000,000, at 5 per cent, for three years, secured by collateralFi. Total authorized capHal is $50,000,000. The bonds are secured hy deposit in trust of first mortgage bonds on new branch railroads, at $20,000 per mile; also secured by traffic contracts with the Northern Pacific R.R.. Co. guarallteeing (after lapse of two years) a mi:aimum net annual income of :fl,400 per mile, being equal to 6 per cent per an.num on $20.000 per mile of bonded indebtedness, and a sin.ldog fund charge or one per cent. Quarterly dividends began in Jan., 1883, at 112 per cent. ah.i ceas6d after October, 1883. (V. 40, p. 61,304,338,742; V. 41, p. 102, 190, 208, 393, 446, 527, 557, 689, 722.) Os-wego & Ko1ne.-Owns from Richland, N. Y., to Oswego, N. Y .• 29 miles. Road opened Jan. 1 , 1866. It is leased to the Rome Water,. town & Ogdensburg RR. at 8 per cent on its stock ($300,000) anu 7 per cent on ltllar. bonds. pref. stock being represe:o.ted by convertible bonds,. $62,100 of bonds due 1970 are yet outstanding, DECEMBER, 1885.J - RAILROAD STOCKS AND BONDS. 71 - =========================================================== ====-===========-============== r• Subscr i bers -will c onCer a great Cav o r b y givin g Imme diate n otice o C a ny erro r discovered In these T ables. nd ,._PrlnolDESCRIPTION. INTEREST OR DIVIDEND. Miles Date Size, or Amount pal, When Dne. of Par or explanation of column headings, &c., see notes of Outstandin(J' Rate r,er When Where Payable, and by Stocks-Last; Road. Bonds Value. on first page of tables. " Cen . Payable .Whom. Dividend. Ottwego cl S.11racuse-St:·11k, 9 per cent guar ......... Consol. mortgage (g 1 t • D. L. & W.L .... . ... . .... Construction mort .. .,: .,\r. (for $1,000,000) . ....... Owensboro cl Nashville -- 1st mortgage, gold ......... Pai1wsvitl,e cl Youngs /> 11,-lst mort~age .. ........ . 2d mortgage, incoru '.- convertible into stock .... . Panama--Stock ..•. .. . . ..•. .... . ...•..••.......... . General mortgage, sterling, (£777,800) .......... . Sinking fund subsidy, gold ... ...... ...... ......... . Paterson cl Hudson-Stock .......................... . Pennsylvania-Stock . ............•. .. .... ...... ...... - - - --35 .... i23 65 65 48 48 48 15 2,036 Gen. M., Ph. to Pitts., coup., J. & J.; re~ A. & O. State lien (pay 'ble m annual iust'lm'ts of 60,000) Consol. M., coup. J. & D., & reg. Q.-M. ts, r. 1 p. c.) Consol. mortg-age, gold. . . . . . . . . . . . . . . . . ........... Bonds, reg. (P.W. & B. stock deposited as collat'l) i'iii Collateral trust loan (coup., but ma:v be r eg.) .... . .... Car Trust certs. (in series payable 1 1 0th yearly) .. Navy Yard bonds reg. (extended 20 years in '8 1) Penns11lvania Oompany-S tock. . . . . . . . . . . ... . .... . 3,23°2 Reg. bonds, secured lly P. Ft.W.& C. special !!tock .... Bonds, gold, secured by pledge and guarantee ... . Pennsylvania <I: New York-1st mort., gual' ........ io5 1st mortg~ge, 5:1ara~teed . ... ..... . _............... 105 Pennsylvama Sc uylkill Vu ll,ey-Stock ............. ---· 54 1st mortgage bonds, re~ister ed . ..... . ......... _... Pensacola <f: Atl::3ntic-ls m. g, (guar. by L. & N.) .. .!.ll. 47 Peoria <I: Bureaii Valley-Stock ...................... Peoria Dec(Ltur & E van.wille-Stock .............•.. 254 lit mort., gold (Pekin to Mattoon) .... _............ . .... Income bonds. do not cumulative, .. ··-· 1st mortgage (Evansv. Div.) ..................... . .... Income bonds do not cumulative_ ... ---- ....... 1876 1883 1881 1879 1879 i867 1880 ..... i870 i873 1879 1881 1883 --- · 1875 . ... 1877 1881 1866 1866 is~s 1881 . ... isso 1880 1880 1880 $50 1,000 $1.320,400 . 438.000 668,000 2,000,000 1:000 500 &c. 400,000 500 &c. 1,000,000 100 7,000,000 £200 3,6'3 9,000 1,000 2,747,000 630,000 ··:,fo 94,777,850 1,000 19,999,760 2,660,913 1:000 27.48:!,9 30 1,000 5,000,000 8,734.000 1:000 10,000,000 1,000 8,197,000 1,000 1,000,000 50 20,000,000 1,000 2.444,000 1,000 13,367,000 1,000 1,500,000 1,000 1,500,000 50 3,750,000 1,000 3,7JO,OOO 1 ,000 3,000,000 100 1,500,000 8,400,000 ---1,000 1,287,000 1,000 858,000 1,000 1,470,000 1.000 1,230,000 41g 7 5 6 g. 7 7 2 7 g. ~ g. F. &A. N. Y., Del., L. & W. RR. M.& S. do do M.&N. New-iicirir. M.&N. J. & J. Last paid July, 1881. J. & J . J. & J. NewYorir;omce. A. & O. London. M.&N. New York. J. & J. New York. 2 M.&N. Philadelphia, Office. 6 Q.-J. Philadelphia & London. A. & O. Philadelphia, Office. 5 Q.-l.\I. Philadelphia & London. 6 J. & D. do do 5 J. & J. 4 do do 41g J. &D. do do Q'rt·r1y Philadelphia. 5 5 J. & J. Phll.,Pa., Co.,forins.&c. 4 Pittsburgh, Co.'s Ottloe. Q~.:.:j-, Phila. Tr. S. D. & I. Co. 6 4-½!g. J. & J. N. Y., Nat. City B ank. ,J. & D. Phila., B'k N. America. 7 J. &D. do do 7 ··.,r 6 4 ..6.g. 6 6 6 Aug., 1885 1907 1903 Nov. l, 1931 Jan. 1, 1910 Jan. 1, 1915 July 1, 1885 '86 to '89 & '97 Nov. 1, 1910 Jan. 2, 188 8 Nov.30,1885 1910 Annually. June 15, 1905 Dec. 1, 1919 July 1, 1921 June 1, 1913 l 891-93 Jan. 1, 1901 For 1883 July 5, 1907 July 1, 1921 Jun6 1, 1898 June 1, 1908 J. ·&·n. Plliladeii>iii'a,'P~nn. RR. Juii"i',·-i913 F. & A. N. Y., Comp'ys Agency. Aug. 1, 1921 F. &A. N. Y., Chic., R . I. & Pac. Aug., 1885 .&.. J. N.Y., Mei: ·Nat. Bank . do do New York. M.& S. do J. M:&· s. Jan·...i,--i920 Jan. 1, 1920 Sept. 1, 1920 Sept. 1, 1928 For ten months from Jan. 1, 1835, gr oss earnings w er e $37.596,806, Oswego & Syracuse.-Owns from Oswego, N. Y., to Syracuse N. Y., 35 miles. Leased in 1868 to the Delawaro Lack. & West. RR. Co. against ,¼;40,8!6,6!6 in 1884; net, $13,159,784, against $15,467,96i in 1884. For the same r,eriod the lines west of Pittsbur,g show a deticit of tor 9 per cent per year on stock and interest on bond s. Owensboro & Nashville.~Owns from Owensboro, Ky., to Adah-- $1,2:37,918 in 1885, against a, deficit of $649,523 in 1881. An abstract of the latest report issued, that for 1884, was published 1n ville. Ky., 84 miles. Controlled in 1879 by the Nashville Chattanooga & St. Louis, and now operated by Louis. & Nash. RR., which owns a the CHRONICLE (V. 40, pp. 302 and 306 . and au article on p. 285). A summary of the total business of 1831, compared with previous majority of the stock. Gross earnings for 1882-83, $56,335; net, $6,415 . years, is shown in the following : Gross in 1883-4, $101,138; n et, $15,832. Stock is $1,156,517. ALL LINES BOTH EAST AND W.ll.ST OF PITTSBURG & ERIE. P ainesville & Youngst own.- wns from Fairport. Ohio, to 1884. 1883. 1882. Youngstown, Ohio, 65 miles. The old company m ade default, and road was sold in foreclosure June 2, 1879. Under the reorganization Gross earnings . .............. $97,849,875 $105,653,532 $101,514.926 68,917,036 65,385,714 bonds are issued as above, and the stock is $288,000. On Jan. 1, 1882, Operating expenses .......... 6'1,434,317 defaulted on 1st mort. ooupons, and R. K. Paige apvointed receiver. Net earnings .......... $33,415 ,558 $36,736,476 $36,U9,212 Foreclosure pending. Gross earnings in 1883-4, $ 55,138; net, $3,981. The income account embraces all receipts and expenses of the PennP anarna.-Owns from Aspinwall to Panama, 48 miles. Opened sylvania Railroad proper, but not-including the roads west of Pittsburg through Jan 28, 1855. Of the ~cneral mortg. bonds $900,000 fall due iu :a.ine half-vearly payments begmning April. 1885, an d balance in Oct., & Erie operated by the Pennsylvania Oompany. The account for the years 188i, 1883 and 1884 was as follows: in 1883, 561s1i>6-1¾; in 1884, 49141i>61; in 1885, to Dec. 2J, 45¾ 15618. GENERAL INCOME ACCOUNT-(PENN, RR, co.) 1897. The ~2,804,000 subsidy bonds are secured by a pledge of tne sum of $225,000 annual subsidy payable to the U . S. of Colombia by 1882. 1883. 1884. the company. In June, 1881, most of the stock was sold to p&.Iiiitb Net income Penn. RR. Division.$10,768,563 $11,943,432 $10,185,529 interested in the De Lesseps Panama Canal Co. Tue report for 188'1 was Net loss New Jersey Division .. 568,758 653,914 593,536 In CHRONICLE of AJ?ril 25, 1885, showing net income of $1,751,899, all(t a surpms. after paymg 16 per oent dividends, of $ .3 5,822. 10 per ct. paid Balance ..•.. _...•.....•..••. $10,199,805 $11,289,516 $9,591,993 in 1 8 85. The surplus to D ec. 31, 1884, was :H,076.557-(V. 40, p. 540.J DeductPaterson & Hudson.-Owns from Jersey City, N. J., to Pater- Payments t(\ trust fund ........ . · $600,000 $600,000 $600,000 son, N. J., 15 miles. The road was opened in 1834, and leased Con sol. mort~ttge redeemed . . . . 277,460 282,81() 2~0,860 in perpetuity September 9, 1852, to the New York & Erie, at a rental of Allegheny Val. RR-Deficiency ::!57,384 251,520 698,320 $48,4 00 per year, and is operated by the New York Lake Erie & Western Do Advances. 361,591 409,490 as pa.rt of its main line. J. S. Rogers, President. New York City. Fred. & Penn. Line RR. do 15,000 15,000 Pennsylvania.-LINE OF Ro AD-The Pennsylvania system embraces Miscellaneous Advance~, &c. ... 168,500 180,000 abo11t 5,5u0 miles of railroad, including all east and west of Pittsburg $ 1 ,685,285 $1,7.36,870 $1,590,786 and a clear idea of the territory covered can only be conveyed by a map, At the close of 1 884 the mileage operated east of Pit tsburg & Erie, on Balance to credit of income .... $ 8 ,514,520 $9,552,6-1.6 $8,001,213 which ear.ilin~s as reported were based, was divided as follows : P enn- Dividends ...............•... <8¼) 6,890,'115(812)7,530,650 (7) 6,560,787 sylvania Division a:nd branches, 1,471; Philadelphia & Erie Divieion, ------$2,021,996 $1,440,428 287; United Railroads of N. J. and branches, 413; t otal operated, New To credit of profit and loss ...... $1,623,805 York to Pittsburg, with branches, 2,202. Add from old accuunts.. ..•• 226,755 ORGANIZATION, LEASES, &c.-The ch..·trter of the Pennsylvania Rail$2,021 ,996 $1,440,•126 $1,850,560 road was dated April 13. 18-46, for a line from Harrisburg to Pittsburg. 603,452 1,020,692 The line from Harrisburg to Philadelphia was under other or~anizations, Deduct balance accounts, &c. ---·including the State Railroad, and the Harrisburg Portsmoutu Mt. Joy & $1,418, 54-l $419,734 $1,850,560 Balanee . ... . ... ...... .....•. Lancaster is still operated under a lease though forming part of the 13,G13,184 main line. Road opened in 1854. The great number of leases, botk east Add profit and loss Jan. 1. ...•. 10,344,079 12,19c!,639 · ---and west of Pittsburo-, were made for the most part undee the administrations of J. Edgar Thomson and Thos. A. Seott in the few years preced Balance profit and loss Dec. 31.$12,194,€39 $13,613,183 $1, ,032,918 ing 1873. The terms of the leases will be found under-the names of the -\V. 40, p. 134,152,253,270,285, 302, 306 i)77 394. 493,508,653, 763; v. 41, p. 24, !3, 89, 103, 230, 24'.?, 341, 357, 483, 496, 508, 5~7, respective leased roads. The P ennsylvania Oompany was organized in 1870 as an auxiliary 613, 627.) • corporation to control all the lines west of Pittsbur g & Erie. and the Pennsylvania Coinpany.-The Pennsylvania Oompany is a corPennsylvania RR. Co. holds all the stock of the Pennsylvania Oompany. poration chartered by the Pennsylvania Legis1ature, April 7, 1870, disSTOCK AND BONDS.-The Pennsylvania Railroad stock bas been in- tinct from the Pennsylvania RR.. and it operates all the leased lines west creased from time to time, chiefly by the sale of stock at par to stock- of Pittsburg. The stock is owned by the Pennsylvania RR. holders, for the purpose of raising capital for new acquisitions or betterThe re~istercd bonds are secured. by deposit of $4,000,000 of Pittsb. Ft. ments. In the period of depression following 1873 the Pennsylvania w. & Chic. special stock. The gold bonds of 1921 are secured by a uepos1t RR. dividends were reduced and sometimes passed. The dividends paid in trust of the leases of the Pitts. F't. W. & Chic. and the Cleve. & Pitts. each year since 1870 have been--iu 1871, 1872, 1873 and 1874, 10 per railroads and are also guaranteed by the Penna. RR. Co. The trustees cent ea ch year; in 1875 and 1876, 8 per cent each year; in 1877, 4; in of the mort. are Wistar Morris, Edmund Smith and S. M. Felto:::. The 1878, 2; in 1879, 412; in 1880, 6 and 1 per cent in scrip; in 1881, 8 ; sinking fund is 1 per cent per annum if the bonds can be bought at par. in 1882, 812; in 1883, 812; in 1884, 7. The whole number of miles operated or in any way contrnlledThe prices of the stock yearly in Philadelphia since 1875 have been- by this company is 2,790. The iucome account of the company showed ln 1876, 45w583s; in 1877, 245s1i>49; in 1878, 27@35 14; in 1879, 323s net p r ofits over an liabilities, including fixed charges, of $1,867,883 in @513s; in 1880, 48w6714; in 1881. 59121i>701s; in 1882. 5378 '@6514; '82; $872,829 m '83; de:ticit in 1881, $710,220. (V. 40, p. 286, t;;85. in 1883, 56191i>61~; in-188 t, 4914'ii61; in 188f>, to Dec, 18, 4 5 ~a5619, Pennsylvania & Ne-w York (Canal and Kail-way).-Ow11.1 In March, 1881, the company purchased 217,819 shares of the Philadelphl:1, Wilmington & Baltimore RR., and the directors authorized the from Wilkesbarre, Pa., to N. Y. L . E. & W. RR. near Ne'Y York State Line, 104 miles. Branches to mines, :23 miles. Operated m connection Issue of $~0,000,000 new stock of the Pennsylvania RR. In July. 1881, the 4 per ct. bonds secured by P. W. & B. stock were istm ed. and they ,u., with t he L ehigh Valley Railroad as a northern outlet. Common stock, $1,061,700, and preferred stock, $4,000,000. Gross earnings in 1883-84, purchased vearlv at not over par witb tlie surnlns Droceeds of Ph. W. & B. dividends paid to the trustees, and not needed for the payment of 1nt. $2,151.338; n et. $609,544. Gross in 188'2-83, $J,316,847; net $961,821. Elisha P. Wilbur, President, Philadelphia, Pa. tV. 4.0, p. 303.) The colla teral trust loan of 1883 is secured by the d eposit of mortgage P ennsylvania Schuylkill Valley.-Jun~ 1, 1883, the organizabonds of subsidiary lines to the par value of $12,500,000. OPBRATIONS, FINANCEe. &c.-The Pennsylvania RR. was tbe:flrstin the tion of this companywa!; co1111,1.eted by consolidation hetween the Phil. United States to begin the practice ofleasingorcoutrollinga groot number Norristown & Phrenix\Tilie, the Phrenixville Pottstown & Reading and of bra.noh and connecting roads to secure the business in certain terri- the Pll renixville & West Chester railroad companies. The road extends tories. The comp&ny finally gave up its interest in roads south of the from Philadelphia to R eading, and is contrnlled by the Penn. RR. Co. J. P otomac, including the Richmond & Danville. The total cost to the Penn- N. DuBarry, President. (V. 41, p. 557.) sylvania Railroad Co. of tile stocks and bonds of other companies held P ensacola & A.tlantlc.-Peusacola, Fla., to Rivet· Junction . .Fla., in its treasury was, up to Dec. 31, 1884, $96,866,517 (par value of the 162 miles. Road completed .Feb ., 1883. Operated b y Lou. & ~ash. sin@e same $128,058,846), most of which is represented on the other side of Jan., 1885, ana connects its system with the roads of Florida and So.Ga. tlte balance skeet by issues of Penn. Railroad stock and bonds and other Stock, $3,000 ,000. Has i8su ed $1,000,000 land grant llonds to the Lou. 41ebit items, the balance to credit of "profit and loss" is $14,032,918. & Nash ., RR. Earnings for fifteen months, April 1, 1884, to Juue 3 0, ..l. scheme to buy up the company's guaranteed securities with $600,- 1885, $373,670; net, $64,839; interest on bonds, $22 , ,ooo; other 000 per vear from earnings was in operation, and 1ht> entire amount interest and constmction, $67,14'1; deficit, $227,303. (V. 41, p. 613.) paid by the company into the Trust up to tha end of 1 884 was $3,700, P eoria & B ureau Valley.-Owns from Bureau Junction to Pe•• 000. There had been purchased for the fund securities of the par value of $4,423.750, which yielded an interest of 6·8 per c ent per annum ria, Ill., 47 miles. The road was le~sed in perpetuity April 14, 1854, to the Chicago & Rock Island Railroad at a rental of $125,000 per aunum. upon the purchase price. But m July, 1885, the plan w us cban~ed, and P e o ria D ecatur & Evansville.-Owns from Peoria to Evansville..z instead o:t $600,000 per year, 1 per cent of the net income 1s to be 235 miles; branch-Stewartsville, Ind., to New Harmony, Ind., o applied to this pw·pos6. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ---- ------ RAILROAD 72 STOOKS AND BONDS. [VOL. XLI. Subscribers -will conCer a great Cavor by giving llnmedlate notice oC any error discovered In these Tables. Bonds-Princi • INTEREST OR DIVIDENDS. DESCRIPTION. Dut>. Miles Date Size, or Amount Rate per· When Where P~ble, and by pal,When Stocks-Last Par of £or explanation of column headings, &c., see notes of Outstanding _ Cent. Payable om. Dividend. Road. Bonds Value. on first page o:t tables. --- --· Peoria (f; Pekin-Union-1st mortgage. gold, coupon Income mortgage, non-cumulative, gold .. •....... Perkiomen-1st mortgage ........................... Consol. mort., gold, guar. P. & R., (sink. fund). ... Peterborough (N. H.J-Stock ....... ...... ........ . - .. Bonds (not mort.), redeemable after 1882 ..•..•.. Petersburg-Stock . ............... .. ............... .. Guaranteed pref. stock, 6 per cent ..........•...•. 1st mort. bonds (payable $25,000 yearly) ......... Mortgage bonds, class A ... ........................ Mortga~e bonds, class B ...........•...•..••....... Philaaetp ia & Balt. Central-Stock ................. 1st mortgage (for $2,500,000) ..................•.. Westchester & Phila. , 1st mortgage ............... Philadelphia &: Erie-Stock, common ..•............. Preferred stock ...... . . .. ...... .. ................... 1st mort., Sunbury & E. (extended 20 years in '77). 2d mortgage ........................................ General M., g., 1?11.ar by Pa.RR.<$5,26~,ooo rg. 5s) Debenture bonds (red eemable at any time) .. ...... Phila. Germant'n (f; Chestnut Bill-1st mort., guar Philadelphia Germantown cl: Norristown-Stock . ... Philadelphia cl: Long Branch-I st mortgage . ...... Philadeliphia Newtown ct New York-Stock .......... ~onds. ~~ar. \ly Ph_ila. & Read., coup .............. 'l'hiladelp ia ct Reading-Stock, common ......•.... PrAf P.rred stock . ... . •............................... Receiver's ccrtmcm;e::1 outstanding Nov . 30, 1884. Mortgaae loan, sterllllg, coupon ...........•...... . o dollars, coupon . .....•• ... .......•• . do convertible, coupon ..............•. Mortgage loans, coupon .. ............ ... .....•. . . •. Consol. mort. ($8 ,193,000 are ~old 6s) en. or re~ . 20 20 38 38 11 --·--1881 $1,000 1881 1867 1873 is11 .... 0 63 "ifi i869 188 l 1881 .... ·s3 issi 1871 83 27 287 287 40 287 287 .... i857 1868 1869 1885 1883 7 29 .... 21 932 932 ··-· .... ---.... .... .... is33 .---· ... . ... 1,000 100 1,000 100 500 &c. 100 50 . ... .... ··?;o 1,000 100 &c. 50 50 1,000 1,000 1,000 1,000 1,000 50 ··5·0 100 &c. 50 50 i884 £500 1843 1843-9 1,000 1857 500 &c. 1,000 1868 1871 200 &c. miles; leased, P ekin, Ill., to Peoria, Ill., 10 miles; thronsh Decatur, 3 miles; total, 254 miles. This road is a consolidation of the Pekin Lincoln & Decatur RR. (formerly leased to the Wabash) and the Decatur Mattoon & So. and the Gray...-ille & Mattoon. Annual r port for 1884 in v. 40, p. 362. Gross earnin~s in 1884, $759.768; net, $2:H,921; interest on mort. b ond s . $165, 420; payment on equipment certidcates, $47 333· surplus $19168. (V. 40 p. 362.) ' ' ' ' ' Peoria & Pekin Unlon.-Owns. from Pekin to Peoria, 10 miles <1.each side of Ill. River; total operated, 20 miles. The road is a union r oad, and the stock of $1,000,000 was taken by the different Peoria RR. companies, and they- pay a rental for use of the road and also pay terminal charges. See full description in V. 36, p . 25H. Opened Feb., 1881. In 18-:: 3, gl'oss receipts, :£445,142; n et, $191,783; balance -over interest and rentals, $,4,308. Gross receipts iu 1884, $429.847; net, $174,36£; balance over interest and rentals, $71,889. A. L. Hoplkins, President, New York. Perklomen.-O"'.Vn from Perkiomen Junction, Pa., to Emaus .Junction, 39 wiles. The road was leased for 19 years from Aug. 1, 1868, to Phila. & Reading RR., and bonds ~uaranteed by the lessees; but -the property was su1Tendere<1 and all control given up in May, 1879. ·Stock subrni-iption, $38,040. The balance sheet ,gives on the credit Ride -$781,120 ae .1:'hila. & Reading luan account. Net earn. in 1883·84, $99 ,· "20l; in 1882-83, $115,804. Interest on debt, $115,476. Peterborough.-Owns from Wilton to Greenfield, N. H., 11 miles · Completed Jan. 1, 1874. and leased - by Nashua & Lowell Railroad -for ~O years from 1873 at 6 per cent on cost of the road. James Scott. Presi(lent, Peterborough, N. H. Petersburg. -Petersburg, Va., to Weldon, N. C., 63 miles. In May 1877, a r eceiver was appointed, but steps were taken by second mort_.ga_ge bond.holders to prevent a sale, and reorganization was made with $323,500 preferred stoek an d $1,000,700 common stock. $440,000 Class "A" bonds are srill in hands of Central Trust Co., of which $350,000 are rresen-ed to retire old 1st mor-tgage 8s. In 1883-84 , gro, s earnings, .$347, 132; net, $143,587; in 1882-83, gross, $335,179; net, $154,2 l5. -lV, 40, p. 29.) Phlladelpllia & Baltimore Central.-Philadelphia to West• ,ch ester, ~o miles; ~Vestchester Junction to Octorfl.ro Md., 46 miles; .leased Chester Creek Railroad, 7 miles; total operated, 79 miles. This was a consoHdation, Oct., 1881, of the Philadel11hia & Baltimore Oen· --tral and the Westchester & Philadelphia railroads. Of the new ~tock Philadelphia Wilmington & Baltimore RR. holds nearly all. In 1883. net -earningR. $100,940; deficit, $45,686. In 1883·4, n et earnings,$'. 40,066; deficit, $6,744. Philadelphia & Erle.-Owns from Sunbury to Erie, 287 miles. Formerly Sunbury & Erie RR. It was leased to P ennsylvania RR. for 999 years from Jan. 1, 1862, the lessees to pay 30 per cent or gross ~eipt as rental, but modified January 1, 1870, so that actual net receipts are paid as rental. The ,general mort_gage is guaranteed b,v the Pennsylvama Railroad and the interest on the 6s is paid J. & J., on the 5 per cents A. & 0. The unpaid coupons are held bv the lesRee for ad• vancei;i, and by terms of adjustment in Jan., 1885, made with the P enna. Railroad Co. 1he P. & E. issued $1,500.000 d ebenture bonds at 412 pn cent, secure-i by the overdue coupons held as collateral. For ten months rrom J an. l to Oct. ill, 1885, grnss earnings were $2,70J,418, .agairn-t IF3,0.') 2,733; net, $1,041,668, against $1,229,428. Last report was in CunoNICLE of Feb. 2o, 'o5, giving the following: INCOME A.CCOU~T. 1881. 1882. 1883. 1884. $ $ $ $ ~otal gross earnings. 3,434,309 4,011,414 4,108,843 3,660,146 Net 1·eceipts.Net ea1·nings ........ 1,024,250 1,411,880 1,4.88,020 1,458,080 .!}tents .••............ 4,835 3.586 4,892 9,120 Total incC'me .... 1 >i1<bursem e1, ts- !Interest on d eht .... ilnterest on equipm't Extraordin'ry e21.1.1's. Misccllaneoui; ...... . -1,02~,085 $ 1,077,995 165,345 135,278 45,710 1,415.466 $ 1,062,270 160,410 ·95:os·1 ----- 1,492,912 $ 1,062,270 162,281 10,000 43,024 ---- 1,4.67.200 $ 1,062 .270 166,801 "2i:i¥1 Total disburl'Pm'ts 1,424 ,328 1,317,767 1,277,575 1,250.21~ .Balance, sur. or def.. d ef.395,243 sur.97,699 sur.215,337 sur.216,982 -(V. ~0, p. 183, 268.) Philadelphia Germantown & Chestnut Hill.-In Philadelphia from Germa.utown June., on. Connecting Railway, to Chestnut Hill. 6~ miles. From May 1, 1883, leased for 30 years to the Pennsylvania RR. Co., which guarantees 412 per cent on 1he bonds. .Philadelphia Germantown & Norristown. -Philadelphi:, ..Pa., to Norni,;town. Pa., 17 miles ; Germantown Branch, 3 miles; Ply • ,u;outh Railroad, 9 miles ; total, 29 miles. Tbe property was leased ·Nov. 10, 1870, to Philadelphia & Reading Railroad for 999 years at a reental of $269,623 and $8,000 yearly for organization expemes. Divi~dends of 12 per cent _per annum are regularly paid. Philadelpbia & Lon« Braucb.-A consolidation in 1883 of the \Pemberton & N. Y. r oad andtbe Philadelphia. & Lon g Branch road. J,;.,-. 'tend,; from Pernberton J11110tion to the N. Y. & Long Branch road, 1.ear https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I ---- 6 g. ~-F N. Y., Central Trust Co. Feb. 1, 1921 $1,500,000 6 g. ay 1. N.Y.,W.H Brown& bro. Feb. l, 1921 1,500,000 Norristown, Pa. Apr. 1, 1887 6 A. & O. 799,600 6 g. .r. &D . i..v June 1, 1913 1,125,000 do M.&N Nashua, Treasurer. Nov.• 1885 385,000 3 6 A.. & o. Boston, N. E. Trust Co. Oct. 1, 1697 89,000 1,000,700 7 .... ··--······ 323,500 3 .&.. J . :(, Petei·siilii•g: ·va . ,Jan ., 1887-'98 319,000 8 !'; do July 1, 1926 560,000 J. & J , 900,000 6 A. & 0. Oct. 1, 1926 . ... .. .... 2,495,650 r..1:&·N. Phila. Company's Office. No~;:i·;·i911 l,U1 U,UOO 1,100,1)00 A. & 0. April 1, 1891 7 do do 7,01.5,000 .... ---····· Philadeii>liia; ·Pa. RR. 2.400,000 A.·&·o. Philadelphia, Pa. RR. oci: · "is97 976,000 3,000,000 J. & J. do do July 1, 1888 7 13,943,000 5 &6g. Various Philadelphia & London. July, 1, 1920 1,5JO,Oll0 412 F. &A. Philadelphia, P enn.RR. Feb. 1, 1915 1,000,000 May 1, 1913 4.12 M.&N. Q.-M. Phila., or°reasurer of Co. Dec. 3, 1885 2.231,900 3 900,000 5 .... ... ·-· -······-· 1,200,000 ..6. A.·&·o. Phila.," 227 4th St. Oci:. i·,. "i897 700,000 33,216,625 Q.-J. Philadelphia, Office. 212 Jan.25,1876 1,551,800 Q.-J. 312 do do July, 1876 2,995,816 4,5,6 .&. Juiy;·i{)io 967,200 6 J. J. London. 1,499,500 6 J. & J. Philadelphia, Office. JUly, 1910 ,T. & J. 79,000 6 do do July, 1886 2,700,000 A. & O. do 0.}t. 1, 1893 7 do 18,811,000 6 g. or 7 J. & D . .Philadelphia & London. June, 19H. iss3:s4 1 ··1r ..... ··,r :i:: .. ·so: Bay Head _N. J 4-1 miles. Road leased to and operated by the Penna. RR. Stock ts $900,000, of which $750,000, together with $750,000 bonds, are held by Pennsylvania Railroad Co. . . ~hlladf!Jlphla Ne-wto-wn & Ne~ York.-:-Owns from Erie Ave. Philadelphia., to Newtown, P'.1., 21 D?lles. Cap_ital st?ck, $1,200,000 On November 10, ~879, the Phila delphia & Reading Railroad purchased 12,012 shares (which gave control of the property) . and guaranteed the boudR; the road is operated in connection with the P. & R. system. Earnings in 1882-83, $68,4467; .-ixpenses, $102,259; d eficit, $33.812. In 1893-84, earnings were $75,94?; expenses, $90,285; d eficit, $20,342. Philadelphia & a ·e adlng.- LINE OF ROAD-Owns main line. Philadelphia to Mount UarbLJn, Pa., 98 miles ; branches owred, 228 miles; leased lines, 1,154 miles: roads controlled, 107 miles: total oper• ated in D ec., '84, 1,5'!8 miles. T hese leased lines include the No. Pennsyl• vania and D elaware & Bound Brook roads, from Philadelphia to Bound Brook, N. J .. and branch to Trenton, and the Central of New Jersey roads. In May, 1883, leased the Central RR. of New Jersey. includin~ its leased lines in Pennsylvania, 650 miles, but 63 miles of these roads are sub-let to other companies. The Shamokin Sunbury & Lewisburg-, and the .Jersey Shore Pine Creek & Buffalo and other lines, form the connectinµ::roads to the New York Central & Hudson at Geneva and Lyons, N. Y. ORGANIZATION, LEASES, &c.--The Philadelphia & Reading Company was chartered April 4, 1833, to build from Philadelphia to Reading, and on May 13, 1872, the Mount Carbon R&ilroarl was merged and became part of the main line. Road opened Philauelph1a to Pottsville in Jan. 184·2. The Philadelphia & R eadin.O' Co. leases a number of roads in Pennsylvania, including the Cata,~ssa, Chester Valley, Colebrookdale, East P ennsylvania, Little Schuylldll, Mine Hill, Schuylld.11 Valley, Philadelphia Germantown & Norristown, Philadelphia & Chester, and some minor roads; also the North Pennsylvania Railroad and Delaware & Bound Brook, formin"' the line from Philadelphia to New York. In May, 1883, the Central o'l New J ersey was leased, including the leased lines of that company in Pennsylvania. The fiscal year ends November 30. The annual election is held early'in J anuary. The Philadelpl:lia & Reading Coal & Iron Company is a corporation formed (Dec. 12, 1871) for the 11urpose of owning and working the extensive coal properties of this company. The Phila. & R ead. RR. Co. owns all the stock ($8,000,000) of the Coal & Iron Company. The Phila. & R ead. RR. and the Iron Company ..-ere in the hands of receivers from May, 1880, to May, 1883. Again in June, 1884, receivers were appotnted. STOCK AND BONDS.-The preferred stock is of small amount, and did not rc>ceive any dividends from 1880 till 1884, when 2 i per cent for back dividends was voted, contingent on the negotiation of the <'Ollateral trnst loan. The.dividends paid on Philaddphia & Reading stock from 1870 to 1875, inclusive, were 10 p er cent each year; in 1876 2½.!per cent was paid and nothinO" since. The range of P . & R. stock yearly in Philadelphia since 1875 has been: in 1876, 1812 @55; in 1877, 10a>2014; in 1878, 113sa>l934; in 1879 11121i>375g; in 1880, 634,-a,3{,12: in 1881, 2538@3714: in 1882, 2118~ 3358; in 1 ·t3 <, 23121i>3012; in 1884, 812'a'3014; 18~5 to Dec. 18, 63s1vl~7s, TI.J.e bonds m the table above are arranged with the mortgage bonds placed first, then the plain debentures, income bonds, scrip, &c. Of the Keneral mort~age bonds dated in 1 874, $5,000,000 more at 7 per cent were issued m 1882. Under the sinking fund clause the right has been claimed by Mr. Gowen to pay off the general mortgage bonds at any time on proper notice. The trustees of the general mortgage of 1874 hold the bonds of the Coal & Iron Uo., viz., $29.737,965 mortgage of 1874 and the Philadelphia & R eadin~ Co. also l.tolds the $10,000,000 mortgage of the Coal & Cron Co. dated .t876. The Defe1Ted Income bonds have a claim for 6 per cent interest only after 6 per cent has been paid on the stock. In January, 1883, the con• vertible adjustment scrip, was issued, secured by $4,000,000 income mortgage (see terms in V. 36, p. 48), payable on 90 da.ys' notice any time after July, 1885, and convertible into stock at par. and the new consol. mortgagfl dated in 1882, due in 1922, was issued in adjustment of certain llabilities. In addition to the bonds above given there are real estate mortgages for about $2,900,000. OPERATIONS, FINANCES, &c.-The Philadelphia & Reading Co. ha.9 been the largest of the anthracite coal carriers, aud through its auxiliary, the Philadelphia & Reading Coal & Iron Co., became a large owner of coal lands. Between 1870 and 1876 the P. & R. increased heavily its capital account in the purchase of new properties, and after paying 10 per cent dividends for i;ome years ceased to pay after Jan., 1876. In May, 1880, the company suspended payment, and on 1\Ia.r 24 receivers were appointed and held possession till May. 1883. BU\ in June, 1!::l8-1. tile company again went into receivers' hands. In 1883 the P. & R. Co. assumed a new-position in two re:;pects, first by buildiug the connecting line to carry coal to thfl New York Central & Hudson, and s econdly by lea sing the Central of New Jersey railroad system, assuming all its liabilities and agreeing to pay 6 per oenf; a year on the Central of New J ersey stock. By this lease all the Central of N.J. eoal lauds and coal trattic were controlled, giving the Phila. & Reacing cuntrol of about 40 per cent of tbe anthracite coal business. The charges on Central of N. J. lease were heavy and coal profit declined l::trgely, so that on June 2, l 8i:s4, G. DeB. Keim, E rt win M. Lewis and Stephen A. Caldwell were a.ppoiuted receivers of the Philadelphia & R t:atlmg RR. and Iron Cos. A financial exhibit was made by the DECEMBER, RAILROAD STOCKS AND BONDS 1885.J Subscribers -wlll conCer a great Cavor by giving Immediate notice of" any error discovered In these Tables. I Bonds-Princt · DESCRIPTION. L.~TEREST OR DIVIDENDS. Miles Date Size, or A.mount Rate pe1· When Where Payable, and by pal, When Due. .For explanation of column headings, &c., see notes of of Par Stoclcs-Laat on fl.rat page of tables. Road. Bonda Value. Outstanding Cent. Payable Whom. Dividend. - · - - - - - - - - ·- - -Phila. cl: &ad.-(Oont.)- frap. mort., ,:c , $or£, coup -....- -1873 6 g. A.. & o. Philadelphia & London. $1,000 $[),364,000 Gen. mort., gold,$ and£, cp.($5,000,000 are 7s). i~"ii~~~ :, ~17:~~i:i .... ··-- iior ·$so,ooo:oooi: ---- 0 ser.: ·ioia.. do 2d aeries (for $80,000,000) ..... Debenture loan, coup . .......•.......•............. do convertible, coupon .......•.•.... Scrip deben. and guar. bonds, currency ..... .. .... Scrip general mort. a-nd Perkiomen, 6, sterling .. Deferred Income bonds .....................•...... Deferrt:d mcome scl'ip .............................. Conv. adjustment scrip (for $4,000,000) .••....... Car trust certificates ..........•...••..••...•...... do do P. & R. Coal & I., purchase·moneymoii.bonds::: do debenture loan ................. Philadelvhia ct Trenton-Stock .... .................. Philadelphia Wilmington cf: Baltimore--Stock . ..... Plain bonds, loan .............................•..... do do ................................... do do ................................... do d@ .................................. Pine 01·eek.-1st mort., guar ..................... . .•. J'ittsb. Oleve. cf: Toledo-1st mortg., gold, int. guar .. Pitts. O.cf: St.L.-lat M.,conaol., reg. andcoup ...... 2d con sol. mortgage ................................ lat mort., Steub. & Ind., extend. in 188-!, reg ..... <Jol. & Newark Division bonds ..................... HollidaJ;'s Cove RR. mortgage bonds ............. PUtsb. cf: onnellsville.-lst mortgage .............. lat mortgage Turtle Creek division ............... Consol. mort., guar. B. & 0. (s.f. £7,200 pr. yr.l.. 2d con1<ol. mortg., gold <pled~ed for B.& 0. bonds). ---..... .... .... 1874 1876 1882 1883 1868 1873 1877 1877 1882 ---------· ...... i~83 ----.. 1883 .. 1884 .... 1,000 1 ,000 500 &c. 500 &c. 100 &c. 100 &c. 10 &c. 90&c. 50 &c. .... ··-· ·--- 200 200 125 33 1872-4 500:ic. 1872 1,000 .... 100 50 i867 1,000 1872-4 1,000 1875 1.000 1880 1883 1,000 1882 1868 1:000 1,000 1873 1864 1,000 1864 1,000 149 10 149 149 1,000 1868 1859 100 &c. 1876 £200 1885 100 &c "39 407 .... .... .... .... "'is ·--- ---- .... I 24,686,000 7 & 6 f(. J. & J. Last paid Jnly, 1 88 ! 2,454,000 .r. &D. Last paid D ec., 1 88 3 7 3,258,328 5 g. M.&N. Last pa.id May, 18 4 1,732.052 ~ g. F. &A. La t paid Feb., 1884 662,300 J. &J Last paid J11n., 1884 10.41ti,900 J. & J. Las t paid Jan. l8,l4 7 562.019 J. fJ & J. Last paid Jan., 188! 1.791,720 J. it J. Philadelphia & London. 6 25,568.()90 ..... Nothing ever paid. 6 329,472 6 3,007,730 6 J. . &.J . Last paid "iaii·, 188 ! . 1.800,000 .......... . 6 1,110 000 ...... 6.&.7 Various Philadeiphfa: omce. 12,471.000 )f. & S. Last paid March, 1834. 1,117,000 7 1,259,100 Q.-J. Philadelpllia, Otlice. 21sl 11,818,350 4 J. & J. Phil'delphia, Co.'s Office A. & 0. do do 1,000,000 6 A. & O. <10 do 700,000 6 800,000 A: & O. do do 6 1,000,000 T. &D. do do 5 J. & D. Phila. P. & R. RR. Co. 3,500.0001 6 N ew York. 2,400.000 A.. & o. 6 6,863,000 7 F. & A. Ph.ila ., Pa., RR. Office. do 2,500,000 A. & O. do 7 do do 3,000,000 J. & J. 5 do 134,000 J. & J .. do 7 120,000 F. & A. do do 6 J. & J. Balt., Balt. & Ohio RR. 7 4,000,000 326,600 F. &A. Pittsb., First Nat. Bank 6 6,321,000 6 g. J. & J. London. J.S.Morgan&Co 10.000,000 New York Agency. 5 ll• ?!• ·ou· ·aii 11 , 0 1v 11 0 0 0 Full interest on all outstanding obligations other than those held by the Railroad Co .. . ~,14~,286 Jari ... i·,--i888 ·--- ........ ---- 1392· i894 1892 Oct. 10. 1885 Jan. 2.1886 Afil• 1887 Oc. 1, 189? April J,. 1900 June, 1910 Dec. 1932 Oct. 1, 1922 Aug. 1, 1900 A.pril 1, 1913 Jan. 19l4 Jan .. 1900 1893 July, 1898 ..... Aug. l, 1889 .Tan. 1, 1926 Feb. 1, 1925 I I receivers Oct. 20, 1884, and published in the CHRONICLE of Oct. 25' V. 39, p. 4 61. . The first plan of reor,!t'anization proposed by the stock and bondholders' committ ee, a1~d appro~ed substantially by the manag~ra, was quoted at, much len1Itl1111 ~~e CHRON_ICLE, V. 4~, P • 93 an~_ l~l. The last plan agreed to b,v1hcJomt comi:n1t1ees was m V. 41, p. 6::>4. Fo~· the ~leven_montlla rrom Dec.}, 1884, to O~t. 18%, g~oss earnm~s _(rncludinf{ Central <?e Ne:~., ~'!::seyl ~ere $!0,3, l.7~7, a~amst $-!'.l_,251, 1 ;:$4 m] 1 8!:!;:$ 8_4; net, :t,10,57Z ,-:l Io, agan~st $11,781 ,619 _m 1883-84. Tne annual rep?rt fol' the year ena.m.~ .Noy . 30, _1884, w~s m V. 40, P· 91, and gave the mcome ac~ount as below, mc~udmg the Central of New Je~·sey for t_he fnll year 1893·84, but onl_y for six m ~mth~ 1882-83. From this report 1t appe~ra that the decrease rn net receipts_ m 18133·_84 was $5,512,484, of which $1,474,231 _aro e from the 101:;s m opera~IDg the Ce ntral ~f N ew J e rsey. The f-\oatn?,~ debt Nov. :30. 11'84, wa<1 $23,517,623, agamst $18,065,207 the prenous year, an mcrease of $5,4-52,416. GROSS AND NET RECEIPT 1883-84. 1882·83. Gross receipts .. ........................•...••. $47,450,84'3 $-16,!:!36,786 Gross expcnEes......... ••. . . . . . . . . . . •. . . • . . . •. 34,054.314 31,450,943 ---- --·--Net earnings .. .......... . ............... ... $13,396,531 $15,385,8!2 The income account was briefly as follows: nwo:irn ACCOU.NT. 1883·84. 1882-83. Net receipts, both companies . .•. .... ......... . t$13,519,201 $15,469,251 From this deduct: For tbe Railroad CompanyDebit balance renewal fund................... 4'2,':!08 27,499 Debit bn.lance, profit and loss................. 3 8 ,236 42 1 221 55 909 i\!~~~~!1~~i:p~i~:l i~r:!e~-!~i ·oiitstiiiic1: ' • mD·eg"oubcli·t· ~.aF~i orntsh. ein ~ luadli&ng:_ ~ onatic·n ~.~. debt ..•.. 15,609,499 12,101,666 Oct. 1, 1897 July 1, 1908 Dec. 1, 1896 F eb. l, 1933 F eb. 1, 1933 July 1, 1893 Jan . 1, 1893 July, 1877·84. July, 1882-85 Irredeemable. io · which iR controlled by Baltimore & Ohio, and the Baltimore & Ohio Company guarantees interest on the P . C. & T. bonds (see terms in V. 39, p. 607) v. 39, p. 45-1, 607; V. 40. p. 53. Pittsburg Cincinnati & st. Louls.-Owns rrom Pittsburg, Pa., to Columbus, Ohio, 193 1L iles; branch to Uadiz, Ohio, 8 miles; total, 201 miles. This wa ~ a consolidation of several companies, May 1, 1868, includingthe Steubenville & Cndiana and thePan Handle roads. This company is controlled by the Penn. Company, through the ownership of a m°'jority of its stocK. Thia company also held leases of the LittletMiami and its d ependencies. Operated by the Penna. Company, and earnings separately stated. Common stock, $2.508,000; first nref. $2.929,200; second preferred, $3.000,000; par value of shares, $50. Autllorized amount of 1st mort. $10,000,000, of which $3,137,000 reserved to take up prior liens. The report for the year 1884, in v . 40, p. 651, said that the tonnage trausported was 3,630.:H9 tons, a !.!:ainst 3.466,544 in 1883. an increase of 164,375 tons. mainly in coal stone, lime and graiu. 'Ihne was a. decrease in freight earnings of $5:37,454, nearly all of which was on through tonnage. The average rater,·ceived per ton permili> was 6 3·10 mms as compared with 7 6-10 mills for the µrevious year; the avera)!;e cost was also d ecreased, but not to as large an extent, the r i> sult beiu~ a decreased profit on ti.tis cl:is,1 of traffic. Thf're w ere oarr~ed 1,323,0 74 passen g ers, as compared with 1,235.9><3 in 1883. tl.te g ain beiug in local travel. Tllere was a decrease or $32,139 in passenger earnings, there being a r eduction in tlle rates on both local and through traffic. There w11s a large decrease in ex pen es in almost all departments, although :f-89,478 were charged to motive power ex.pen.ies, on account of improve• men ts to the shops at Columbus and Dennison. Comparative statistics f1sttu· year {932~s .t'ollowi883. 1884. $ $ $ $ 4,069,0'53 4,214,923 4,623,740 4,0!!5,257 ~,759,740 2,831,000 3,0.:H ,46b 2,731,960 - - - - - - - - - - - · - - --- 1 31 , ~:_~942 ::c\~fa~~~i1o ear1i_;s 1,38M'-l~ 1,53~6~~; Total gro~aearninga. up. exp. and taxes . . ~li~ l,3oi·,n; !oj,.lfl 874.4!53 $13,312,017 Balance of both companies ................. def.$3,355,251 aur$2,157,233 t The slight difference from tbe figures above is due to miscel's rec'p'ts . -(V. 39, p. 3, 22, 109. 128. 157,209,220, 234. 350, 3b2. 402, 4-!8, 461, 473. 494. 514, 5 :.! 2, 545,580,606,617,654, 674, 734; v. 40, p . 29, 5:i, 74, 91, 93, 110, 120, 144. 183,214, 241,270, '281. 305 , 364,393, 394, 426,454,481,508,542,569,585,626,653.685;V. 41,p. ~4. ~0.134,160, 216, 242. 273, 307,331,357,393,421,446, 47J. 496, 52~, 586, 6J4, 089.) Philadelphia & Trenton.-Owns from Kensington , Pa., to Morrisville, Pa., ~6 miles and Tioga Branch, 1 mile; leased--Trenton Bridge Connecting Railroad, 7 miles, and Frankford & Holmes b urg Railroad, 4 miles: total owned and leased, 39 miles. On Dec. 1, 1871, it was leased with the United Companies of N. J. to the Penn. RR., at 10 per cent on stock, and ta operated as a part o1 its New York division. Philadelphia Wlbn.lngton & Baltlmore.-Mileage as follows: Philadelphia Wilruington & Baltimore RR., 12J miles; Philadelphia. & Baltimore Central, 7 '<1 ; Dela.ware RR., 100; Queen Ann e & Kent RR .. 26; Delaw:ire & Clleaapealre, 55; Cambridge <Ii Seaford RR., 27; total operated, 409 miles. Owns over half the stock of the Phil. & Balt. Cent. '.Phis road on the main route, Philadelphia to Baltimore, has been profitable, paying regular dividends, with a considerable surplus. From 1870 dividends of 8 per ceut on the stock have been paid each year. In April, 1881, nearly the whole stock was purchased and is held by Penn. RR. Co. Incomti account was as follows: lNC0111E ACCOUNT. 1880-1. 1881-2. 1882·3 . 1883-4. Receipts$ $ $ $ Net earnings ..•........ 1,409,488 1,751,598 1,675,~97 1,855,178 Other receipts.......... 153,270 103,258 109,34'3 133,,1.96 INCOME ACCOUNT.* 1881. 18 >32. ReceiptsN et earnings ........ . Rentals and interest Net from l'sed roads. Miscellaneous ....... . Total income .... . DisbursementsRentals paid ........ . Cntereston fund. d'bt Othel"interest... .. . lot.on C.&M.Val.bda. Loss onSt.L.V.&T.H. " Cin.& Mus. V. RR. Miscellaneous ...... . $ $ 1883. $ 18~4 $ 1,309,313 22,670 53:!,690 1,383,921 19.636 609,271 86,521 1,536,275 8,,84 401,132 1,313,297 4 624 423,531 1,864,673 2,099,351 1,946,191 1,741,452 $ 819,464 846,769 181,777 105,000 170,445 $ 825,447 851,990 222,985 105,000 ---------- $ 851.931 714,490 231,216 105,000 82,534 i¥,si2· $ R46,18q 646,990 183,850 105,000 33,01 l 42,()03 31,620 Total............. 2,123,4.55 2,005,422 2,000,033 1,888,662 Balance .••........... def. 258,7132 sur. 93,929 det.53,842 d ef.147,210 ~luaive of Col. Chic. & Ind. Cent. GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR, 1884. 1881. 1882 · 1883. A.ssets- $ $ $ $ RR., equipment, &c .. 19,979.033 19,995,963 20,605,107 20,798,277 1,085,967 58,399 57,299 1,085,9t:i7 Stoclcs owned, cost .• 23,750 28:i,000 288,000 Bonds own"'d, cost .. ·20::fis 21,744 835,376 656,777 Betterm'tatol's'dr'ds 1,lllJ,287 980,133 1,001,034 1,107,502 Billa & accts. receiv .. 1 2 1 2,014 474,337 732,474 832,930 Materials, fuel, &c .. . 258,918 317,725 297,465 437,707 Cash on hand ....... . 64,GH:> Total income ....... 1,562.758 1,854.856 1,785,2 45 1,988.674 Cin. Str. Conn. Ry .. . 64,639 64,639 64,639 Disbursements$ 396,121 232,415 $ $ $ 376,393 282,465 Pr.:>fl.t & loss balance 3:n,3-8 331,417 28:'l,329 Benhlap='id ............ 211,778 Interest on debt ........ 2¥2:~89 180.~84 201,485 Total assets...... 23,606,912 23,611,814 23,908,010 24,060,720 4~,:.!34 94,20~ 54,367 47,682 Taxes . .................. Liabilities$ $ $ $ 943, 604 Dividends, 8 per ct .... 935,512 943,604 9 3,604 Stock, common...... 2,508,000 2,508,000 2,508,000 2,508,000 14,.54;j Stock, preferred . . . . . 150,133 Miscellaneous ........ . . 13,170 5,929,200 5,929,200 5,929,200 5,92U,200 Bonds (see SUP'.M'T).. 12,617.- 000 12,617,000 12,617,000 lZ,617,000 Tota diabursem'ts... 1,272,704 1,522,842 1,639,07ij 1,538,653 Allotherdues&acc'ta 1,118,636 1,212,134 1,692,961 1,451,050 Bala.nee, surplus....... 290,054 332,014 146,167 450,0lti Due LittleMiamiRR. 853,890 847,390 847,360 845,826 184 ·601 Pine Creek .-From Catawissa Junction to Stokesdale on the Corning Due c. c. & r.c. RR . 262°,500 2·62:500 C. & A. Road, 75 miles. Formerly Jersey Shore Pine Creek & Buffalo RR. 50,989 50,989 447,144. It is operat d by tile Fall Brook Coal Company, and forms a cC1nnection ~c~tr:::o~~~-~~~: between Philadelphia & Reading lines• and N. Y. Central, and bonds are 0 uaranteed by thee c.ompanies and the Corning 0 . & A., on the condiTotal liabilities . 23.606,912 23,611,814 23,fl08,010 24,060,720 tion · th a t guarantors shall advance money for interest if needed and -(V. 40, p. 286, 356, 65 l.) take 2d mortgage bonds for such advances. Stock $999,000. Stock Plttsbura & Connellsvllle.-Owns from Pittsburg, Pa., to and bonds were largely held by Mr. W. H. Vanderbilt. Gr oss earnings in Mt. S1~vageJ'unc., Md., 147 miles; branch, 2 mi:1es; lE:ased lin~s, 22 miles;. 18R3 WPre $188,72!:!; net, $17,400. Gross in 1884, $!60,263; net, $9--1,374. total, 171 miles. Leased to the Balt. & Ohio Rmlroad smca Jan. 1 ,.. -(V: 41, p. 613, 689.) 1876. The city o:t Baltimore transfened its interest to the BaltiPittsburg Cleveland & Toled•.-(See Map of Baltimore~ Oltio.) more Railroad for $1,000,000, and the uonsolidated sterlin.~ mort- From Newcastle ,lunction. Pa., to Akron, 0., 77 miles. Stock l?!3,000,- gage was made and guaranteed by the Baltimore & Ohio, of wl..llch 000, par$50. Leased in July, 1884, for 9~ years, to Pittsburg& Western, enough is reserved to retire the prior bonds. It is operated as the, ---·---· -·- - - - ----- ----- - - - ----- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ----- rgi:z~g ~M:i8a ---------- RAILROAD STOOKS AND BONDS. 74 [VoL. XLI. Subscribers will confer a great favor by giving Immediate notlce::oc ~any error discovered In these Tablew. Bonds-I-rino1INTEREST OR DIVIDENDS. DESCRIPTION. pal,When Due. Mile.a Date 8ize, or Amount of Par Rate per Stocks-Last For explanation of column headings, &c., see notes of When Where Payable, and by Road. Bonds Value. Outstanding Cent. Payable Dividend. Whom. on first page of tables. Pittsburg_ Ft. Wayne & Ohicago-Stock, guar ........ Bpecia improvement stock, guaranteed ........... 1st mort. (series .A to F) Bonds all coupon, but 2d do (series G t-0 M) may be made payable 3d mortgaf............ to order. Pittsbur'1; t. Wayne & Chic. construction bonds. P~ttsburg. uncUon-~st M., &old ..................... PittstJm•g & Lake Er"le-Stoc ........................ 1st mortgaie, gold, coupon ........................ Piitsbm·g Mc . & Yoitghiogeny-Consol. stk., guar . 1st mortg., gnar ............. . ... .. ...... .. ......... 2d mortg ... . .... ........ . .. . ........................ P.ttso. Va. d'; Charleston-1st mortgage, gold ........ 1st mortgage, gold .. .. .. ........... .. ... . . .. ....... Pittsbitrg & Web'te1·n.-lst mort .• g. (for $6,000,000) 1st mortgage. Pitts . Brad. & Buff ... ............... Consol mortw,ge .... ...... . ... ...... .. . ... ........ Port Hia·on cf: rn-thwestern-lst mortgage .. .....• . Consolidated m ortga ge ... ...... ................. ... i P!11fr~~nJ Mg1;}f:Cft~tock:::::::: ·.::: ·. ·.:::.:::: Port Royal A ugusta--lst morttage ................ d'; 2d mort., endorsed by Central a ................. Augusta & Knoxville mortgage .................... General mortgage income bonds, coup ............ Portland cf: Ogdensb.-lst mort., gold .............. Consol. mortgage (for $3,300,000) ................. Po,,.tland ti: Rochester-Stock ($600,000) ............ Portland Saco d Portsmouth,-Stock .... ............. Portsmouth & Dover--Stoc.lr . ......................... Portmwuth Gt. Falts d: Conway-Stock . ............ 1st mortgage .... ................................... Poughkeepsie Hartford & Boston-lstmol.'t . ........ --- - - - ---468 468 468 468 468 ..4¼ 70 70 62 ·-·· 62 30 70 120 103 -·-· . .... 1871 1862 1862 1862 1857 18Sl -··· 1878 1884 1882 1 -384 --- ~ 1882 1881 1881 ---- ---· ---· 1879 1882 ·24 ..... 112 112 68 ..... 60 94 53 51 11 73 73 42 .... 1878 1882 1880 1878 1870 1871 .... ..... .... ..... 1877 1875 $100 ¢19.714.286 100 10,776,672 500 &c. 5,250,000 500 &c. 5,160,000 2,000,000 500 &c. 1,000 100.000 1,441l,<OO 1,000 2,050,000 50 1,000 2.000,000 50 3,000,00 > 2,250,UOO 1,000 1,000 750,lJOO 2,000,000 1.000 1,000 3 000.000 1,000 4 ,161,000 1,000 800,003 271,4• 0 ---7 -~ 5,000 ·--· ..... 920,000 ...... 1 38,000 724,276 lOO&c. 250,000 112,000 (330,000 lOO&c. 1.500,000 500 &c. '800,000 100 &c. 2,377,000 5 88,200 ---100 1,500,000 100 769.000 100 1,150,:~oo 500 &c. 1.150,300 16,000 ---· 1~ 1~ 7 7 7 7 6 g. 10 8. 6 g. 112 6 6 7 g. 5 6 g. 6 ---7 6 7 ..6. ·- Pittsburg Division of the Baltimore & Ohio RR. In 1884 the Balt. & Ohio i~suea its bonds for $l0,000,000 secured by pletge of the al1ove 2d coneo1idated mortga_g e of the Pittsburg & Connellsville RR. Stock is $1,944,400. In 1~8 l-8t net earnings w ere !f;l,54.2, 125; in 1882-83, $1.478,i74; in 1 883-84. $1,04'2,13:t. Plttsburo- Fort Wayne & Chlcago.-Owns from Pittsburg, Pa. to Chicago, di., 468 mile!-' 'l'hf\ 0ompany made default Oct. 1, 1857, and again in 18fi9. and was foreclosed Oct. 24, 1861, and reorgaruzed under this title Feb. 26, 1862. On June 27, 1869, the compan y lf'asrd all its road and property to the Penn. RR. at a r ental equivalent to interest, sinking fnnd of debt, and 7 per cent on $19,714,286 stock, which was increased at that time from $11,500,000. The lease was transferred subsequently to the Pennsylvania Company. The lessees are to keep the road in repair and also pay taxes, expenses, &c. The rental charge is a.bout $2,930,000 per year, and the profit to lessees has been large. T11e Pittsburg Ft. Wa,yne & Chicago leases the N ewcastle & Beaver Valley and the Lawrence roads, which in turn are leased again by the Pennsylvania Co. The first mortcrage bonds are in six series lettered A to F'inclusive, of $875,000 eacl1 series, the interest on "A'' series being pa,vable Jan. and July; on "B" it is February an~ August; on "C" it is March and September; on "D'' it is April and October; on "E" it is May and Nov , and on "F" it is June• and December. The second mortgage is also in six series of $60.000 each, lettered H to M inclusive (J omitted), and the interest is payable Jan. and July on "G" series, Feb. and Aug. on "H," March and Sept. on ·• I." April and Oct. on" K," May and Nov. on" L," and June and Dec. on ".M:." The bonds are coupon, but may be regis· tered payable to order. Of the 1st mortgage bor..ds, $11337.500, an<l of the 2d mortgage $1,587,500, and $354,088 cash, were neld in the sinking funds Jan. 1, 1881. The special improvement stock is issued to Pennsylvania RR. for improvements, &c., under article 16 of lease. which provides t,h at the lessee may issue special bonds or stock, and says: "The said party of the second pa11 3hall guarantee the payment, semi-annually or quarterly, thereon of such rate of interest as may be aP'eed upon between the parties hereto, to be paid by the said party of tne second part to the holders thereof without deduction from the. rent hereinbefore r eserved; and the said special stock, or bonds, or other securities, shall be issued only in respect to improvements of and additions to the said railway whichJ and estimates and specifications of which, shall have been submittea to and approved by the said party of the first part in writing." * * • It was proposea. to change the terms of the lease so as to issue bonds to the lessee instead of the special guaril.D.teed stock, but this was not ('Onsnmlllated. Operations and ea::.-n!n_g~ !'or four year~ uast were a.c. !'vliowR: Passenger .Freig:ht (ton) Gross Net Div'd Years. Miles. Mileag-e. Milea,re. Earnincrs. Earning-s. p. ct. 1881. --· 468 130,470,469 1,044,447,161 $10,741,490 $4,883,005 7 1882 . ... 468 140,057,682 991,907,50l 10,894,870 4,622,476 7 1883 . ... 468 127,5?0,075 944,563,376 10.844,358 3,927,688 7 1884 . ... 46~ 110,639.940 907,951,237 9,164,041 3,129,152 7 -(V. 39, p. 158, 324,654; V. 40, p. 28, 121, 356, 4'27, 626.) Pittsburg Junctlon.-From Monongahela River to Allegheny River, Pittsburg, P,i,., 4 14 miles, inclnding side tracks amt branches. Built under auspices of B & 0. and Pittsburg & Western, whid1 compa nies made an agreement to pay $2 for each car. and guaranteed (separateh) a minimum of $240,00v per annum. Common stock is $ ~! 60,000. Preft-rred stock, $4gO,OOO, owned entirely by Baltimore & Ohio RR. Pltti;ibur:?; & Lake Erle.-Owns from Pittsburg, Pa. to Youngstown, Ohio, 68 miles; branch line to Newcastle, Pa., :t miles; total, 70 miles. Leased from .Tan. 1, 1884, for 99 years, the Pittslmrg McKeesport & Youghiog-heny RR, from Pittsburg to New Haven, Pa., 57 miles, with brancl:es. 5 miles . Scrip ~ertificntes for $61 ~.ooo, bearing 6 per cent intereFt and payable at will, are also outstaudmg. Under same ausp:ces as Lake Sh. & .Mich. So .. Gross earn. in 1883, $1.402, 768; net, $503.004. In 1881 gross, $1,193,521: net,$ J68,2t6. (V. 40, p. 91 ; V. 41, p. 807.) Pittsburg lUcY.eespo1·t & Youghlogheny.-0wns from Pittsburg to New Hnven, Pa., 57 miles; branches. 5 miles; total, 62 miles . Road opened .Kov., 1883, and le1sed to Pit.tab. & Lake Erie RR. for 99 year~. 6 per cent on the $3,000,00 , sto,.k and prinrit>al and interest of the bonds being !..'11ar. by P . & L . Erie and Lake Shore & M. So. Cns .. the gua1·n11tees lleing en<lorsed on t11e share certificatt>S and bonds Gross earnin~s in 1884, $591 501; n et, $297,095: paid interest and d ividends, $32~>, '231; d eficit, $32,136. W. C. Quincy, Presi<tent, Pittsburg, Pa. -(V. 40. p. 763.) Plttsbur~ Virginia & Charleston.-From Birmingham, Pa., to Unfoutown, Pa., 70 miles. The stock is $1,504,500. 'l'he bonds, $2,000,000, besides $208,100 debt certificates, and of the stock $1,25 l.050, are owned by the Penn. RR. Dividend of $1 50 per share paid in March, 1885. Pittsburg & Western. -Owns from .Alleghany Cit.y. Pa., to N ew Castle, Pa .. ti4 mil s: Callf'ry Junction to Mt. J ewet, . 137 miles: Duck Run Brauch. 3 miles; Clarion Brnnch, 6 miles; other brancbes , 2 miles; total, 315 miles. Leases P. c. & Tol, .New Castle Ju1wtion, Pa, to Valley Jnnrtion. 0 ., 77 miles, rind UFes 26 miles of Cl. Mt. V. & l.Jel. RR., Akron, 0 ., to OrYille, O. This was a consolidation or several roads, dated June 15, 1881, and in l 883 Pitt,;bnrg Bradford & Buffalo was arqnired. Tlle mortga1<e was executed Oct. 1. 1881, to thB Mercantile Trnst Co., covering the projP.Cted lines. In July, 1S8 1, leased the https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis - - - - ---- 6 7 6 6 g. ~ g. 3 3 3 412 7 - 6, 1885 1, 1885 1, 1912 1, 1912 1. 1912 1. 1887 1921 1883 J ..... ·., · N. Y .• Plrii&:;,; ·Plttsb. .July 1. 1928 July 1, 1885 .,~-&J.r. N.Y., Uui<in-Trust Co. July ] ' 1932 July 1, 1934 do do J. & J. April 1,1902 A.. & o. Philadelphia. April!, 1912 A. & 0 . do July 1, 1921 J. & J. Lust paid J ,1n., 1835. .a.J,ll il 1, 1911 A. & 0. Last paid Oct., 188!. 1911 --•- ·--·-· ---A. &0. N. Y., First Nat . BanK. Oct. 1, 1899 Mar. 1, 1922 M.& s. do do . ........... F. &A.I ········•· J .. &.J. N. Y., 252·:B·r·oadway . Jan~. i',"i899 1898 ...... N . Y ., Cit°y Bank. July 1. 1900 J . -&· J. N. Y., 2,2 Broadwav. Jan. 1, 1899 Jan., 1900 J. & J. Last paid Juh' , 1883. Nov., 1901 M.& N. Last p airl May, 1883. .July, 1885 Purtlanrl Jan 15, 1886 J. ),r,.. J. Boston, Office. Jan. 1, 1886 Portsmoutn. Treas, J . & J. J. & J. Bost., Eastern RR. Co. July 15, 1873 July 2, 1937 do J. & D. do 1905 .. ... ---------· Q.-J. N. Y., Winslow, L. & Co. Q.-J. do do Varioms do do Various do do A. & 0 ao do tl() J. & J. do J. & J. New York & Pittsburg. Oct. Oct. July July July Jan. I Nat: I Pittsh . Cleveland & Toledo RR., giving line to Akron, O. Operated in the Baltimore & Ohio interest. Stock, $7,'250,000. In addition to above bonds. there are about $3 00,000 other issues. for which ls r. morgt• bonds are reserved. Guarantees, with Baltimore & Ohio, the Pittsburg Junr.ti,,n bonds. On March 23, 1885, on application ot the mortgage trustees, James Callery and J. W. Chalfant of Pittsburg were appointed receiver;,.. Tn 1882-83 gr::)SS earnin~s, $342.336; net, $77,426 , rn 1883-84, gr .. ss earnings, i685 ,035; net, ;i,200,221. James Callery, Pres., Pittsburg. (V. 3!}. 1'· 128, 37v, 451. 607; V. 40, p. 305. 39:l, 454. l • Port Huron & N ortlnvestern -Port Huron to East Saginaw, 91 miles; Saginaw Junctirin to Saud Beach, 58; Port Austin to Palms, 35; Port Huron to Almont, 34; total, 218 miles. In 1884gross ea-rnings were $288 ,964; net earnings, $77,595; interest payments, $ L33.187. In 1883 irross, $314.780; net, $116,250; interest p '1.yme:i.ts, $119,104. John P. Sanborn, President, Port Huron, Mich. Port J~rvls & lllontlcello.-Owns from Port Jervis, N Y., to \1:onticello. N. Y., 24 miles. Formerly the Monticello & Port Jervis RR., which was sold in foreclosure July 16, 1875, and reorganized as the present Port Jervis & Monticello. Gross earniuO's in 1882-83, $33,399; net, $5,150; 1883-84, gross, $39,370; deficit, $15,528. '.rhe <1toek ($724,276) was issued to the former hol<fors of first mort,g-a~e bonds, of which bonds $50,000 are still out. (V. 39, p. 707; V. 40, p.653.) Port Royal & Augusta.-0wns from Port Royal, S. C., to Augusta. Ga .. 112 miles. Leased in Sept., 1883, the A.ugusta & Knoxville road; Augusta, Ga., to Greenwood, S. 0., 68 miles, for 99 years, at 5 per cent on stock of $127,639, and assuming the bonded debt. Formerly Port Royal Railroad. Defaulted Nov. 1, 1873, and receiver appointed May 9, 1875. Sold in foreclosure June 6, 1878, and purchased for the bondholders, who or~~nized this company. The Georgia Railroad was en dorser on $500,uuO of the old bonds. The stock· is $750,000, and in June, 1881, a controlling; interest was purchased by Central Geor!!ia RR . parties. Earnings for 1 84-851~i1.~rd with 1lr3s!~¥:.sears Gross earnings ...... ..•..... $307,100 $307,ti40 $412,H:4 Operat ing expenses......... 272,112 282,050 354,016 asl~R1~t Net earnin~s. .•. ..•... ... $34,987 - (V. 40, p. 18;:s.) $25,590 $58,148 Portland & Ogdensburg.-0wns from Portland Me., to Fabyans, 91 miles. It reaches the Vermont Division (now St. Johnsbury & Lake Champlain) by- using 14 miles of the Boston Concord & Montreal RR. and a 3-mile lmk of its own. In lfl76 the company made default on the 1st mortgage interest and foreclosure proceedings were begun, but compromise was made by giving notes for overdue coupons up to July, 1878. Interest is not paid on the consolidated mort~age, of which the city of Portland holds $1,350,000. The city of Portland owned a controlling interest in the stock, which is $1,052,186. In March, 18:3 i, a foreclosure suit was begun and receivers appointed and power to issuP. $200.000 receiver's certiO.eates was given by the Courr. In June, 1885, a decree or fo1·eclosure in six months waR made, and a plan of reorgauization was staterl in V. 41, p. 4 ·H ; also the pla.n of ·: d mortg. bondholders in V. 41 p. 466. Earnings of the road for t hree years past were as follows: Years. Miles. Gross Earn'gs. NetEarn''1:8 1881-82 ..•.................. 94 $354,173 $106,304 1882-83............ . . . . . • . . . 94 338,844 49,720 1883-84 .............. --·· --· 94 33-1,673 89,1381 -(V. 40, p. 121,685: V. 41, p. 216,393,421,466. 654.i Portland & Kochester.-Owns from Portland, Me., to Rochester, N. H., 53 miles. Tile old company was put in the hands of a ~:J~ 1 :ii~~icl°ii't~! itf\~~: !~~t~::a f~Yi8~rt :neifui~n\~t ~~r!e~i:: vertcd into the stock of the new company. In ~ov., 188 ,i , a l:aseto the Bost,,n & Maine was made for t ,O year.:. Gross earnings in 1883-84, $183,~08; net, $25.'229. In 1884.-35, gross, $181,900; net, $25,272. Portland Saco & PortsDlouth.--Portland, Me., to Portsmourh, N. H., 51 miles. It was leased May 4, 1871, to the Eastern Railroad, Mass., at 10 per cent on stock. Lease rental chan~ed May 21. 1877, and now 6 per eent. The Boston & Maine Railroad leased the Eastern in 1881 with all its l ensed r oads. Ports1nouth & 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 bv Eastern (Mass.) .Frank Jones, President. Portsmouth, N. H. PortsIDoutlt Great Falls & Con-way.-Owns from Conway Junction, Mc., ~o North Uonway, N. H., 7J milu:'1. 'l'he Eastern Railroad in Massachusetts has made a lease of tlle road for 60 years from Dec. 1, 1878, with a guarantP-ed rental of $45,000 a year, which pays 412 per cent on $1,000,000 bonds, and the stock is to receive the same dividends as the stock of tlle lesseeA. 'l'ota1 stock, $1,150,300, of which lessees own $551,300. Pougllk.ee1>sle Hartford & Boston.-0wns from Poughkeepsie, N. Y., to t,ti,.sin ~, and hr,mches to Pinc Plains an,l Statu Line, 47 miles. The Pouul1. & East. RR. was solo. iu forecloimre May 15, 1875. Thi;. road wns sold in fore01 . sure Jan. 26, '81. under the secon 'l mort., and purchased in two sections. (V. Ji,, p . 149.) In 1883-84, g1'0R@ earnings, $-!7,803: net, $6.560. In 1882- a, gross, $57,712; net, $10,350. G. P. P elton, President, Poughkeepsie, N. Y. DECEMBER, 1885.] RAILROAD STOOKS AND BONDS. Snb8crlber• -wfil confer a great favor by giving lnunedlate notice oC any error discovered In these Tables. DESCRIPTION. For explanation of column headings, &c., see n otes on first page of tables. Bonds-Prine!• INTEREST OR DIVIDENDS. Miles D ate Size, or Amount Rate per When Where Payable, and by t>al, When Due. of of Par Outstanding Stock,a-Last Road. Bonds Value. Cent. Payable Whom. Dividend. - -· 23 51 Providence~ Spr-ingf.-lst M. ~end. by City Prov.) . Providence cit Worcester-Stock .... . . ....•........... Bonds ............................................... Raleigh cit Augusta-Stock ($1 .000,000 pref.) ....... Rale:ighclt Gaston-1st mortgage .................... Reading cit Oolumbia-lst mort , coup. (extended) .. 2d mortgage. coupon (extended in 1884) ........ .. Debentures . ............... ... . . ... ..... .. . ... ..... Lancaster & Reading, 1st mortgage...... . ..... . . Renssetae1· cit Saratoga-Stock . . • ...................•. 1st mortgage. consolidated (for $2,000,000) ...... Richmond cit .Alleghany-lat mortgage, gold ...... . . Second mortgage, gold ($4,000,000) . . ........... Car trust ce1tifi.cates .... ... . ....... . .. ............. Bicltmona cit Danville-Sto~ . . .... ................... 3d mortgage, (consol. of 867) coup. or reg ... .. . General mort., gold (for $6,000,000) .............. Debenture mortfage bonds, cumulative ... ....... . Piedmont branc , 1st mortgage ................... Northwestern, N. C., 1st mort., p;uar.. . . . ....... Richmond York River & Ches., 1st mortgage .... . do do 2d mortgage ...... Rich'd l!redericlcsbiwg & Potomac-Bonds, ster ..... Dollar loan ....... . ....................... . ......... Coupon bonds of 1890 .. ........... . ................ Coupon bonds of 1901 ..... ... . . . .................. 0 98 97 40 40 --·· 15 193 79 252 252 756 141 141 .48 29 38 38 .... .... .... Richmond & .Petersburg-Stock . ... .... .. ...... ...... "25 1st mort gage, coupon .. ..... . ... .. .. ...... ... .. ... Consol. morti;age ($50,001) are 7s) .... ... .. . ...... Richmond cit West Pt. Ter. R. & W. Oo. -Stock .. .... . Trust notes, secured by collateral ................ .... .... 25 25 - - - ----· ----1872 $500,000 2,500,000 ·--1.242,000 1877 1,873.000 i,ooo 1,000,000 1873 1862 lOO&c. G50,000 1.000 350,000 1864 1877 . 1,000 l,G00,000 350,000 1873 100 &c. 6,854,100 .... 100 1,000 1,925,000 1871 1,000 4,925,000 1880 2,9 61,000 1,000 1881 393,000 ....... 5,000,000 100 ---6i7,500 1867 100 &c. 4,785,000 1.000 1874 1;000 3,969.000 1882 1,000 500,000 1868 1,000 !500,000 1873 400,000 1,000 1873 400,000 1,000 1880 58,216 . .... 309,594 .. ..... 150,000 . ... 300,000 .... ·ioo 1,000,000 ---· 50,000 1,000 1870 290,000 1875 500 &c. 15,000,000 100 i885 5,000 2,600,000 ---· $1,000 100 ---- ---- .... .... .... Providence & Springfi.eld.-Pr()videne.e, R. I., to Pascoag, 23 miles. It was proposed to extend the roan to Springfield, Mass., 80miles. Stock is $ 516,850. In 1882-83, "'ross earniugs. $96,24l; net, $27,298. In 1883-8 t, gross earnings, $93,~4.0: net, $3c!,354; interest, $34,308. rovldence & ,vorcester.-Owns from Providence, R. 1., to Worcester , Mass., 44 miles; branches, 7 miles; total operated, 51 miles. Notes outstanding are $44 l,30J. Opera~10ns for three year8 were: Frei~ht (ton) Gross Net Div. .Pa.~ enger Years. Miles. Mileage. Mileage. Income. Income. p . c. 1882-83 .. 66 20,585,077 23,174,410 $1,158,394 $322,330 6 1883-84 .. 51 20.757,058 21,596,07~ t,136,633 274,832 6 1884-85 .. 51 20,429,299 24,161,818 1,077,166 321,508 6 -(V. 39, p. 653; V. 41, p. 555.) Kaleigh & Augusta.-Owns from Raleigh, N. c., to Hamlet, N. C. , 98 miles; Hamlet to Gibson, 10 miles; total, 108 miles. Formerly Chatham Railroad, and is controlled by Raleigh & Gaston. Earnings 1883-84. $240,5~4; net, $20,641. ., . . Kaleigh_4; Gaston.-..,,rom Raleigh to Weldon, N ..c._. 98 mil~s. The 8toc~ 1s :Sl,500,000. In October, 188 l, 3 per cenJ dividend p_aid, and same m Oc': .. 'i35, John :M. Robinson. Pres't, Baltimore. Earrungs nave been as follows (none later reported) : Gross Net Earnin s. Earnings $446,9[1 $ ~9,294 1882-83...... .. . . . .. . . . .. . . .. . . .. . . . . . . . 471,44.0 154,030 Readin~ & Colmnbia.-qwns from Columbia to Si~ing BI?rings~ Pa., 40 ruill~s ; branches, 8 nnles; Lanc;iaster & Reading Railroad, leased, 15 miles; total operated, 63 mil~s- Sto~k, $958,2(18. The road is controlled and operated by Philadelphia & Reading, but accounts kept separate. The tlrst mort. 7 per cent_bonds due 1882 were extended 30 years at 5 per cent, and the 2d_ 'is d.ue 1884 were exten~ed twen~y years at0 5_ per cent. .Gross ear~~s m 1~82-83, $456,· 459, net earn gs, $133,4 .. 1, 1883-84, gross, $:394,8Hl, net, $03,838. ~ensselaer & Saratoga.-Owns from Alba_ny to L ake Champlam, N. Y., 79 llllles; Troy to Waterford Junction, N. Y. 6 miles; Whitehall. N.Y., to Castleton, Vt., 14 miles; Eagle Bridge to Rutland, Vt., 62 miles; other, 2 miles; leased: Ballston to Schenectady, 15 miles; Fort Edward to Caldwell, 15 miles; total ope;.,ttted, 193 · es. It was a consolldation of several lines, and the D elaware & Hudson Canal Co. leased the whole March 1, 1871, at a rental of 8 per cent on the stock and intnest on the bonds. In the fiscal year endg Sept. 30, 1884, the pa~ents by the lessee col!lpany for rentals were 756,168, l~aving a deficit of $~8.~34. Operations have been: . Passenger Fr~~~hs (ton) Gross Net DH·. ears. Miles. Mileage. Mlleage. Earnings. Earnings. p.c. 881-82. 193 28,378,001 65,388,489 $2,104,596 $ 828,908 8 882-83. 193 29,612,425 68,780,201 2,149,043 764,587 8 883-84. 193 30,28~,267 70,330,754 2,136,356 707,333 8 (V. 39, p . 581; V. 41, p. 16Z, 558.) Klchm.ond & Alleghany.-Ownsfrom Richmond to Clifton For,ge, 30 milee; branch to Lexington, 20 mi1es; dock connection , 1 mile: eased, Buck,ingham R.R., ~ew Cant<,n to Aroon, 4 miles; total, 254 ilee. The company was chartered February 27, 1879, and acquired by urchase tne p r operties and franchises of the James River & Kanawha anal Company, and tbe Buchanan & Clifton Forge Railway Company, eluding water rights on .James River and terminals in Richmond; the ost of these in stock and cash was $6,588,609. The stock is $5,000,000, and the 2d mortg-age bonds for $4,000,000, hough not all reported as sold, are under stootl to have been pledged to considerable extent for loans. In May, 1883, default on the mort· age interest was made, and on June 23 receivers were appointed. The plan of reor ganization (g-iven substantially in CHRONICLE V. 40 p. 52) -will allow first mortg. bondholders to take a new 1st mort,;. 5 per ent gold bond, drawing interest from Jan. 1 , 1887, and $300 m pr.-f. nd $300 in com. stock. Second mort.g. bondholders pay $5 casll for ond of $1,000 and get $600 in new pref. stook. Stockholders get 70 er cent in new common stock on paying in $3 cash for each new share f $100. E arnings from operations for three years ending Sept. 30 were: 18&3. 18P4. 1 885. ross earnings . . ............ . ....... $63:'),327 $604,083 $527.84!3 perating expenses................. 406,900 420,104 403,253 Net earnings ... ...•........ ..... $228,427 $183,979 $124,595 Receipts from rents, docks, &c., in 1885 were in addition, $61,700. (V.39,p.297; V. 40, p. 94,152,452,617; V.41. p. 122, 4.46.) Blchm.ond & Danvllle.-(See .Map.)-LINE OF RoAD.-The a.in line is from Richmond, Va., to Danville, Va., 141 miles; branches, 2 miles; Danville, Va., to Greensboro, N. C., 47 miles; Salem Junction Salem, 25 miles; leased: West Point , Va.. to Richmond, 38 miles; oldsboro, N. C., to Char10tte, 223 miles; Charlotte, N. C., to Atlanta, 69 miles, and narrow-gauge branches, 70 miles· total owned and ,ased, 825 miles, of whicn 75fl miles are operated directly by the Richond & Danville Co. and the earninga based thereon, and 69 miles, ostly of the Atl. & Ch. na.rrow·gauge branches, are reported separately. By ownership of a majority of the stoc.ir of the Richmond & West oint Terminal Railway & Warehouse Company, the Richmond & Danille Railroad Company indirectly controls and operates the following nes of railway: Charlotte Columbia &_Augusta, 191 miles; Columbia https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis , ---7 3 6 ··s· 5 5 6 7 4 7 7 g. 6 g. 5 2 ---· J. & J. Providence,Am. Nat.Bk Jiily 1, 1892 J. & J, Providence, Office. July 1, 1885 A. & 0. Providence R. I.H.T.Co. 1897 J. ),:r,-·J. M.& B. J. &D. J. &D. J. & J. J. & J. M &N. J. & J. M.&N. ---- Q.-F. M.&N. 6 g. J. & J. A. & O. 6 A.. & 0 . 8 A.&,- 0. 6 J. & J. 8 i\I. & N. 6 6 g. .T. & J. 5,6,7 J . & J . J. & .T. 8 6 M.&N. 212 J. & J A. & 0. 8 6&7 M.&N. 6 .. ... 7 J. ·&::· J. Jaii:;· i·s98 Moh. 1, 1912 June 1,1904 Dec. l, 1917 July 1, 1893 Jan. l, 1886 Nov., 1921 July 1, 1920 May 1, 1916 1890 to 1895 ---------N . Y., Met. Nat. Bk. Aug. 15, 1882 N. Y., Central Trust Co. 1\fa{lid-89? do do do April 1, 1927 do do do 1888 Richmond. 1902 18!)4 do do 1900 London. 1885 Richmond, Office. 1895-'99 1902 Phil.,Townsend W.& Co. 1890 Richmond, Office. 1901 Richmond, Office. Jan. 1, 1886 do do 1886 do do May 1, 1915 Ph.ila .,Pa:,&·Ral;gh,N.C. Phila., Co.'s Office. do do do do do do N. Y., Nat. B'k Com'rce. N.Y., Del.&H.OanalCo. Last paid Jan., 1883. Last paid .Nov., 1882. N.Y. CentraiTrust Co. -······· J a n., 1887 .I,,; Greenville, 197 miles; Chester & L enoir RR. (n. g.J, 90 Uliles; Cheste & Cheraw (n. g.J, ~9miles; Atlantic Tenn. & Ohio RR., 47 miles; Lauren Rail way 31 miles; Knoxvllle & Augusta RR., l6 miles; Riehm. & Meuk. Railroad, 31 !fliles; Spari,anbur:r Union & Columbia 68 miles; Northeastern of_Georgia, 61 miles; Wester~ North_ C3:r~lina _R ailroad, _2:-1 miles; Asheville & ~part3:~burg, 5~ miles; VITpma M.i~la~d Railway, 405 • ~est Georgia Pacmc. ~,13 miles; total miles ~hus mdirectly contro1:ted t~rou~h R. & W._Pt. Ter 1 R. W. Co., 1,_808 nules; g~and total of miles dtrectiy and indITectly controlled by Rwhm. & Danville RR. Co., 2,6;:$3. ORGANIZATION, LEASE'-, &c.-The Richmond & Danville RR. Co. was chartered M~rch 9, 1847. rho Piedmont RR. is virtually owned anil tb.e Northwestern North Carolina is also owned. The Rich. York R. & Clles11r peake is leased in perpetuity; t he terms of the North Carolina RR. and the Atlanta & Cha~lotte Air :i;.,ine le.ises will be .found U!]-der the names of those comparues. '.!-'he Richmond & West P01_nt '.J'ermmal_~a.ilway & ~areh?use qo. (see t1tl~ of that companr belo ,1) 1s an auxiliary corporation m which the Rwhmi:,nd & Danville J:lolds a majority ($7,510,000) of the stock. The Richmond & Danville Extension Co. was organized to build Georgia Pacific RR., and large advances were made to it by the Richu.ond & West Point Terminal Co. . . _STOCK AND BONDS.-The old stock and .bo~ds of the Richmond & Dan VIlle C<?· have not been $l'eatly increased m its expansion of late yea.rs. ID: A~ril, 188:Z, $1,000,uO~ stock wa:> issued for $5,000,000 of tltc Tera Co. sttock. Th.edC\~p1Jtal stock 1s $5,000,000, and the fl.rat dividend 3 welee~ ;:~ de ~as_ Pfs8~n 7 anuary,/881. r:r:he total dividends in 1881 0 The stock w~J~ted on th~e~~~n Oct., 1881. The lii"'h• est and lowest prices since then have been: In 1881 (3 months), 99¼'i1> 171: in 1882, 52W250; in 188;; 471iJ72 · in 1884 32@61 • in 138.J to Dec. 18, 447sW87. ' ' ' ' The t otal am ho1ized issue of "'eneral mortgage bonds is $6 000 000 of which part is reserved to iake up prior liens including d t•bt State of Virginia and the Piedn'.!-ont RR. bond . '.Early in 1882 the debenture bonds were sold to Richmond & DanVIlle 8tockholders at '.l5, an_d semi-an~ual interest was paid o~ thes_e b onds up to April, 18~3, mclus1ve. The mterest on the bonds 1s strictly cumulative aud they carry unpaicl the coupon of Oct., 1883, and all since, making 15 ptr eent Oct , 1885. • '1For terms of mortgage lien and claim on earnings see CHRONICLE, v. 37, p. 373 and 421.) The annual report for tne year ending Sept. 30, 1885, was published in t'he CHRONICLE, V. 41, p. 686, containing the following: Ef!,1·nings 188 4.·85. 18F3-i::4. Fre1gh~ .....•............................... $2,66 ;,75~ $2,520 .561 Passcn ..,ers.. .. . . . . . . .. . . . . . ... . . . .. . . . . ... .. . 98v,'.708 960.3~5 Express................ ........ ..... .....•. .. 67,1.53 70,042 Mail......................... . ............ ....• 171,312 l• 3,452 Telegraph, rents, and miscellaneous ...... __ 96,418 94, csJ7 ·----Total.. ........ . .. ......... ................ $3,981.355 $3,81 5, 220 Interest on investment~..................... 17,792 19,51'7 ---TotaYrece ipts ..• . ·····--················· $3,99!l,147 $3,':34,737 Operating expec.ses.......................... 2,23l,4':j6 2,21~.977 mm( y~~;i~!~1a fu to Net reccipts .•••. ··--··· ·•••··•• ·······--· $l,767,661 INCOi\rn ACCOUNT. 1883·4. 1882-3. $1,597,841 Net earnin,gs .. .............. . $1,586,937 19,517 Rec'd from int. on investments 18,319 $1,615, 76~ Total net rernnueforthe year $1,605,256 Interest on debt, including debentures, rentals of leased lines, &c ....... , .... ......... *1,492,700 $1,617,358 $1,767,661 *1,4.70,908 *l,483,097 1884.-5. $1,749,869 17,792 Balance net rev. over all chgs. $112,556 $136,-150 $284,564 * The int. charge on debent's is included here in full, but it was not paid -(V. 39, p. 6'79; V. 41, p. 208, 686, 722.) Kichm.ond Fredericksburg & Potornac.-Owns from Rich mond, Va., to Quantico, 82 miles. In Novemuer, 1881, there were voted dividend certiticates for $755,039 to be issued tc- holders of coU1mon stock (70 per cent on each share), to r epresent money spent on the property out of ea-rnings. The common stock is $1,030, 100; :;{uaranteed stock, $500,400 (6 per cent except $19,000 guar. 7 per cent,. a.nd "dividend obli." 'ations" $762,200. In April, 1884, the Va. Court of Appeals decided that the guaranteed stock had a claim for "dividend obli~!l-tions" like those issued to common stock holders, and liti1Fati.m is penoing. In year ending Sept. 30, 188-1, gross earnin,gs w er e $471,705 · net, $181,165; interest and guaranteed dividend charges, $88.:,1:.!3; balance net surplus, $92,94~. (V. 39, p. 581; V. 40, p .624.) Kichn1.ond & Petersbnrg.-Owns from Richmond to P etershurg Va .. 23 miles ; branch, 2 miles; total, 25 miles. 1.'he road has ea.rnti~ moderate dividends and the debt account is very small. In 188:! ~4 gi·oss earnings, $195,369; net, $87,069. In 1884·85, gross, $192,650· net, $95,168. ' Bichm.ond & West Point Ter1ninal Kall-way & Warehouse Co.-This company was incorporated by an act of the Le,,1>1l a.• ture of Virginia of March 8, 1880. It is the auxiliary corporati,-:'u of the Richmond & Danv.ille RR. Co. ,controlling several stocks by own https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ~ t1 to 0 ~ t1 rn DECEMBER, 1885. RAILROAD STOCKS AND BONDS. 7T Subscribers -will conCer a grea t Cavor by giving Immediate notice oC any error discovered In t h ese Table11. Bonds-Pri.nol DESCR I l'TION. INTEREST OR DIVIDENDS. Miles D ate Size, or pal, When Due A.mount l!~or explanation of coluruu headi.ngs, &c., see noteE! of of Par Outstanding Rate per When Where P{Viable, and by Stocks-Last on first pag , of tables. Road. Bonds Value. Cent. Payable hom. Dividend., - -· - -· ---- Bio Grande tf: Pecos-1st 1\L golrl ($20,000 p. m .) •. . R,och,ester d: Genesee Va lley-Sto ck •••. . .•. . ...•. •.. •. Boele Island d: Peoria-Stock .. . ...•...... . .• . . • •..•.. :i.st mortJ! a~e . .... .. .... . ..... .. . . . .. .. . . ... . . . .. Rome Wate1·1.-0wn d: Og<lensbu1·g-Stock .. . . .. . .. ... . 1st sin.king fund mori., Wat. & R. (extendod} . . . .. General mortgage, sinking ftmd ...... ........ . ... . 2d mortg:tge.. ... .. .. . .. . . . ...... . ... ..... . .. ... . ConsoL mort., (extended July, 1882, at 5 p er ct.). Income bonds. ... . . . . . . . . . . . . . .....•.....•. . .•.. • .. Syracuse Northern (gold) ....... .. .. . . . . .. ...... ... Butlana-Stock, common .....••...• .. .•.. . . . . • ...... Stock, preferred . .. . . • .. ..... .. . . ... . . .. ..•. . .• . . . . . General mort. (8 per cent. r educed to 61. . . .. •. . • .. llilew 2d mort. in exch. for equipment bond s , &o . Bacramento d: Place,-mlle -1st mortga ge (8. V. RR.} . l s~ mon,.aa:,}8· & P. R~.) ....... . ............ . ... . .8aginaw a . d: St. Loins.-lst mortg., coup . . .. •. IJt. Johnsbury cl: L. Ohamplain-lst M.,coup. or reg. Consolidated mortgage (for $1,000,00LI) . .... . ..•. St. Joseph cl: Granct Island- Stock .••.•.••• . .•..•• • .. 1st mort., p:old, interest guar. by U . P .•• •. •...... . 2d mortgage, gold, income ..... . .. . . . .. . .. .. ... . .. Bt. Josel?h cl: St. Louis-Stock .• . ........ . ..•.. • •... • . ~ - L ouis Alton & Terre Haute-Stock ....... ... .. . . . Pref. st'ck (7 cumulative) . ... •••• .. . ......•. . ..•. . . 1882 $1,000 100 91 i878 ·45 1855 1861 1872 1874 1882 1871 25:ooo 100 100 &c . 500 &c. 1 ,000 1,000 1 ,000 1,000 1872 1878 1855 1877 1872 1880 l8j4 lOO&c. 100 &c. 1,000 1,000 1,000 1 ,000 l,OuO 31 18 9l 417 97 190 190 409 .... i20 120 .48 29 120 ... . ---- . ... 262 iss:S 25 2 76 331 331 l:885 ·-·· .... .... ..... 1:000 1 ,0110 100 100 100 --- $500,000 552,200 1,500,000 150,000 5,293,900 418,100 1,021,500 1,000,000 4 ,9 ·,w.ooo 1,677,335 500,000 2,480,<iOn 4,0 ,o,ouo 1,500,000 1,500,000 400,000 700,000 446,000 600,000 40 0,0 0 4.6011,000 7,0110,000 1 ,680.000 ~23,000 2,300,000 2,468,400 6 g. 3 2¼ 10 3 6 7 7 5 7 7 iii" &D. N.Y., Mercantile Tr.Co. & J. N.Y.,byN.Y .L.E.&W.Co & J. & J. N. Y., Corn E x ch. Bank. & J. N. Y., Uentral Trust Co. U.& 8 . do do J. &D. do do J. & J . do do A.. & o. do do J an 'ry J. & J. N. Y., T. Co. J. J. J. J. J. Farm:L:& . ........ . ---- J une 1, 19l~ J uly 1, 1885·· J uly 1, 1885 Jan. 1, 1900, J uly 15, 1875' Sept. 1, 1910 D eo. 1, 1891 J an. 1, 1892 Jnly 1, 1922 Ju y 1, 1932.. July, 1901 .A.ug:: ·iss5 M.•&N. Boat.,Columbian N. Bk. Nov. 1 , 1 902!' A. do do 1 898 10 J.N.Y. Central Pac. RR. 1875 6 J. do do 1907 N. Boston, C. l\len·iam, Tr. Ma y 1 , Hl02 8 6g. A. & O. Bost., Am. L. & Tr. Co. Oct. 1, 1910 Q.-J. Boston. 5 April 1, l\H4. ..6.g. M ..&..N. New Yoi·kAgency. May. i·, ""i9z5 5g. J. & J . do do July 1, 192;:, 3 April, 1884 ·········· 6 5 ··2~ F'. & J. & J. & M.& ·-·· .... .... N. Y.,0.tfica 34. N~ssauS J , D ec:. ·is; "i885 ersbip of a majority, the total miles of road thus controll3d being 1,808- 1 St . ...-ohns bury & L ake Champl~in . -Own~ from 1:,unenburg· Vt. , to Maq_uam Bay, on Lake Cllampl_a1_11,_ 120 miles. This was. tb e · the old stockholders taking two new shares at $25 p er share for e ach· Portland & Ogd ens tmrg, Vermont D1vis10n, and w a s 1·eorgamze di old share owned. The Rfohmond & Danville Co. owns $7,510,000 ot under thls tit le in 1880. Preferred st ock, $ 1,298 ,500; comm on stock, this stock. The report 1or 1884 showed that the R . & W. P. T. R $2,550.000. In Ma rch, 1 884, ,oted t o issue the consolida ted bonds, of & W. Co. owned tllese stooks, viz.: $2,607, 150 Richmond & Danville which $600,000 are r eserved t o take up its fir st mortgage bonds. Extension Co., $120.UOO Northeast ern Railroad of Georgia, $3,168,300 Operated by Bo~ton & Lowell as its Vermnut Division, aud all but$-ll.We3tern North Carolina RR. common and $3,168 ,300 pref.; $100,000 f\00 of tbe 5 per cent bond s b eld by that compa ny. See V. 41, p. 474 . KJJoxville & _au,g-usta RR., $1,302,400 Charlotte Columbia & Augu sta In 1 8 82-83 gross Paruings, $ '2 6 i ,966. In 18 3-84 gros s, $290,470;. RR., $3.5i7,333 Virg inia Midla nd Railway, $1,001,000 Col~mbia & n et, $ 61,827. (V 39, p. 210, V. 41, p. 4.74.) Greenville RR., $49_.ooo Dall. Mock. & So. W. RR., $300,000 Richmond st . ...-oseph & Grand Island.-Lineofroa-1 , St. Joseph, M ).. to Gra n d & Mecklenburg Railroad. $103,900_ RabuJ? Gap ~hort Line , $ 8 5,9ill1, I slan,1 Ne b .. 2 5 2 miles. TIJiscornpa nywnsorganizedinJune, '8 5 .assu cTeri:ninal stock, $3,Ula,980 G_eor&-1-a Pac1tlo Raih·oad; a~d the f ol- cessor 'of tb e St. Joseph & Wes ter n , sold in for t>clo,,;ure, a nd in clude3 also lowmg boncts : $100,000 KnoxVJlle & Augusta 1 st m ortgage 6 per cents, the H a ... r iul{s & Gr and I sla nd .HR. and the bridge a t St. J oFeph. F or the $368,000 Spartanburg & .Asheville l at mortgag~ 6 _per cents, $1,3.!5,000 st atu s of S t. J oseph & W estern see the S Ul'PLEMENT of June.1885, and Wes1 e rn· Nort?- ~3:roli~a 1st mortgage and $-!,110,000 'td mortgage . prior issues. The plan of reorga_;iiza tion after sal e of ti.lat road, a $1,603,553 Vu·girua Midland 6 per cent .A.cc. ln?omes, . $315,~00 a ("reed upon with th,-,, Union Pacific, was in the CIIRONlCLE, V. 40, p. N or:thea.stern of ueorgia genera,!- mortg., $1,8 ~8, l 5ti; Geor~a Pacific 3 :-IB, according to wbrnh this company was formed ancl the tlr.;,t board 2d mcomes, and $30!:l.~OO .Blue Ridg~ R;H,. and lillScellaneous coun.ty and of dir,·ctors electe d a s r eported in v. 40, p. 764. Tlle road is operated toWD.Ship bonds, 11:nd $~ ,900 subscnpt10ns. I.u ~an., 18 83, t.he above bythe·Umon Pacitlc, which company guaraute!ls the interest on the l s trust notes were 1stiued at 90, seclll'ed by a deposit of stocks and bon<lti ruortg. bonds. James H. Benedict, .President, New York. (V. 41, Jl • .as collateral, and were taken up and renewed Jan. 1885. (V. 40, p . 20) 5.::s6, 613.) ' Kio Grande & Pec o s .-Projected from Laredo, Texas, to Brazo,3 St • .Toseph & St. Louls .-St. Joseph, Mo., to No. Lexin.gton, Mo .• Santiago, 251 n.ules. Completed from Laredo on R io Grande River, to 76 miles. P resent company is successor to the St. Louis & i:st. Joseph Santa 'l 'omas, i7 miles, to tlle company's coal lands of 20,000 acres. Railroad, sold in foreclosure February 8 , 1874. The St. Louis Kansa s M ortgage issued at $16,0uO ver mil~. Narrow g auge. Interest n o t City & Northern took a lease of the road for 99 years J uly 1, 1874. paid. .A.. C. Hunt. President.Laredo. Texas. The terms of tbe lease are an annual payment of 30 per cent of gross Ro c hester & Genesee Valley.-Owns from Avon to Rochester. earningS, but $ 2 5,000 was guaranteed. N Y., 18 nillee. T his road was leased J uly 1, 1871, in ;perpetuity, to St. Louis A lton & Terre Haute .-Owns from T erre Haute E ·ie RaHway, and now operated by New York Lake Erie & Western. Ind., to East St. Louis, 193 miles; !Jro.vrieta.ry ljne, East St. L ouis 10 B 1ntaJ, $34,012. J ames Brackett, President, Rochester, N. Y. BelleYile, 1 5; leased lines-Belleville & Southmn Ill. RR., 56; B elleville Rock I s land & Peorla.-Owns from Rock I sland, Ill., to Peoria & Eldorado road, from Du Quoin. to Eldorado, 50; Bellev. & Car. RR., ru., 91 miles. This was the Peoria & Rock Island, sold in foreclosure from uelleville to E Carondelet, 17; total, 3 31 miles. This company was a h G · reorganization, F eb . 18, 1861, of the T erre H a ute Alton & St. Louis RR. April 4, 1 877, the lMnd kold era becoming the pure: asers. ross e?,r?-mgs The Bellev. & So. Illinois is leased t o thiRcompany for 999 yeRrs from Oct. 1 884. $344,203; 11et earnings, $R4,675, out of wluc115 per cent dividend 1, 1866. an'1 the Bellev & Carond e ·et for 993 y ears from J an., l t< 83, at W 3S oaid on the stoek. Gros ,1 earnings in. 1883, $354,8U7; net, $ 107,043, a r ental of $30,000 per y ear, wllich is a guar . n •e e of int. ou tb e bonds ; o ut of which 4 per cent di,idends l)aid. the stock of $ 500, uoo is owned by the tic. Louis A.. & 'l'. a. The main Komt- Watertown & Ogden&bnrg. - Owns from Rome to line (St.L . Alton & T. H. ) was 1eased Nov. 1, 181:!i, to the new Iudianap... O gdensburg, 141 miles; brancllt:s: To Cape Vincent, 24 miles; to P ots- & st. L. Railway and t lle (;]eve. Uol. Cin. & Indianapolis ~oiutly. Undei:· d am, 24 miles; Oswego to Lewiston, 146 miles; Sanely Creek to Syracuse, this ne w lease ti.le rent guaranteed is $450,00u, and th a t aruonnt is all' -i5 miles: leased Oswego & Rome RR.,29 miles; _Niagara Falls Br. R~ .• 8 that is to be paid unless the gross earnings exceed $1,750,000 in auy m iles; total owned, leased and operated, 417 miles. It was a consolida- year ending Oct. 31 , and then 20 p er cent is to be paid of the excess o~ t;ion Oct., 1861 , of the Watert'n & Rome and th~ Pot sdam & Watertown gr uss earnings over $1.750 000. railroads. The Lake Ontario Shore Railroad was a cquired January 1 5, T llis company, In July, 1882, obtained a decision in its favor again st l 875; the Syracuse Northern, August 1, 1875. The Oswego & Rome was the two solvent lessee companies for $221,624 a g ain st each. .A.n ap11eal leased J anuary 1, 1866, at 8 per cent on · stock and inter est on bonds. to the u. s. Suprem e Court is p ending. Tl.le Belleville Br. and Exten siou T he Niagara Falls Br. road was leased Nov. 1 , 1881, at 7 per cent on its are operated separately by this company, a.ud earned ne t in '82, $238,s tock of $250,000. 930: in 1883, $205.!Ja5: i n '84. $131.0Ul. See report, V. 40. p. !i95. '.L'll e~ h compa.ny wa"' in default on coupons of the consol. bonds after Belle\.-.-.ille & Eldora.do was leased for 985 years from J uly 1, 1880, at :.. A -p1i l 1, 1878, but afterward gave new sheets or coupons, 5 per cent rental of 30 per cent on the gross earns. , hut $15,400 per year guarant 'dln tn est ; also funded the 3a-¼ per cent overdue interest (to J uly, 1882,) The Belleville & Carondelet is leased at $30 OllO p er a.nnum. into 7 p er cent incowe bondR also assessed 10 per cent cash on stock. Of the first mortg. oonds $'336.000 are h eld in sinking fund; of th0T he present management of tho company succeeded the rn.anc.1gement equipment bonds $246,000 are owued by the company. '£he prew hich was ideutitied with the Del. Lack. & West. iut eresti:!. UJiarles ferred stock hai:, a prior right to a cumulative dividend of '1 p er ceut P arsons, ~ew York, President. Fixed charges for interest and rent als oefore any is declared on common. It is al o couvertible in.to comf or year are $489 541. 1uon at par; but shall not r eceive any di vidend a s common stock f or the For nine mouths from Oct. 1, 18~4, gross earnings were $ 1 ,219,296, time it was held as p1·eferred. In January, 1881, the company declaredl a gainst $1 ,184,396 in l tl 83-4; net, $419,398, against $ -! 15,748 in 3 per cent in cash on tho preferred stock and afterward settled the r·e1 883--1. cnainin.g 55 p er cent of accum. dividends b y the issu~ of incom1' bondi,i. For year ending Sept. 30, 1884, interest an!l rent!118 were $ :\ 22,269, 'l'l-l e annual r epm·t for 1 84, in V. 40, p . 595, said: "In addition to the other payments, $14,826; sul'plus, $26,68-1. O_perat10ns and earnmgs minimum rental of $-15 0,000 , we have received during the yeal' the sum f or t hree years past wern of $12,867 froru the r ecei,e t· of the form er l essee, tl.10 Indi a na1lolis & Years. .l\llies. Pass'r mile. F r'ht(ton)mile. Gross rec'ts. Net rec'ts St. Louis RR. Co., balan<·e due in exce~s of miniruum rental for tha 1881-82 . .• . . 417 19,223,5tl4 54,470,111 $1 ,814,495 $101.581 mouths of July, Augu s t and September, 1882. The l esst:e companies. 1882-9:3 .• . .. 417 18,872,541 5 ) ,~34,358 1,694,:231 30,1.723 h ave t>n t>r getically prosecuted tile system of improvem ents inaugurat e<l. 1883 -84 ..... 418 20,079,.! 47 61,220,005 1 ,716 ,525 ~63,77 u under the n ew lettRe, amt h ave in the w ,~1!1 broug h t tbe le ased property 338 48 2 up tu a high stundard in e ve ry cle pa1tmt·nr.. Un der tlle title Ca iro tihort, 21 281 305 2 2 5 9 61 4 5 - (V. 3 9, P• 6 , 6;')5, 70 ; V. o, p. *, ' ' ' Line D,v ision are m elud e I the roads operated by th e com1;any, amount- ' ' 5 70, 626; V. 41 , P• 77, 2 16, 243 , 5 8 6 .) in~ in the aggreg a te to l 31i·3 milt--s, th~re being n~ in._c1:e~sein milc~ge Kntland.-Owns from Bellow's Falls, Vt., to Burlington, Vt., 1 20 since ,,ur form e r r e purt. From t he bnsrness on thi s d1v is1on, m c!udmg · miles; leases Addi,;on RR., 15 miles; total, 135 miles . This road bas been proprietar y nnd l ea sed lin ea, ar e made the follow in~ compa r a tive stat ethrough many clla.nges . It was leased to the Cen.t. Vermont 1n D ec ., 1870, rnents of ec.1,rningf! ancl e xpen ses :" !or 20 years, but the lessee b ecame in.solvent, and finally a modi.ti.cation EARNINGS. EXPENSl!:S .<\ND RENT OF LEASED LINES. of the lease was made , giving $250,000 p er year a a miniLUUIJl r ental and $8,000 ror organization expenses. The 5 p er cent 2ds are ajirst 1 88 3. l c 8 I. I nc1·ease. Decreas'!~ mort,rage on :r:oliI.ng s~ock a.nu p er SO!]-al property . Tne a nnual re port Gross e aroin o-s . . ...... .. : . .. . $ 83 2,4 68 $74 1,05 0 · $ 91 ,31 .!or 188 1. r; 5 w1tu income account was m v. 41, p. 132. l V. 40, p. 9!; V Operating e.x:!len , es ancl taxes. 4-5,6::35 4 11 6,160 1 9 ,47,t, 4 9 89 6 3 3 3 ,R ~ $ -1, $ . .... ··· $ 71 , 81 ~ ; :~: : !~ n t o & Place rvllle .-Owns from Sacramento, Cal., to Net earnings . ......... ··· ·· $ 20 3 , 97 1 3 ,0i 3 Shingle ti.vrrng,s, Cal., 4l:S u.ule:;. 'l 'l.l.is w as a consolida tion. 01 the Sacra.- R ent leased ro.td 3. . ·· ·· · · ·· ·· · :.!00, 897 mento Valley a nd the Folsom & Placervme r a ilroads , April 19, 1 8 77. $74 ,91 6. Net r even ue .. ............. $ 2u 5,933 $1 3 1,018 Capitalstock,$1,756,000. Grossearnin,'('s, 1883, $l2l,9J:') ; net, $45,73 ~, SO TTRCES o:u:. NET REVE~UE. deficit over oharges , £L9,2.:. 0. Gross, 1884, $13 0,4U; nP.t, $ 67,378; surplus, $1 ,378 . 1..-t-land -i tanford. President, San Frauci.- co. Bellevill ~ bran ch, separate earn in gs . . . . . . . . . ••. . . . . .... . . . •. . . $46 ,Dl t 2 6,65~~ Saginaw- Valley & St. Louis.-Owns from Saginaw to St. Louis Bellevil1e brancll, ou busi11:ess contributed b y l eased !m e;, .. . .. 57,.J. 5 .> and Alma to Itllaca, 1'd.wh., a 5 LWles. Opened January 1873. Capita.I L ea sed roads, afcer deductrng expeu ses and r entals. .. .... . .... I- -stock, $264,804. 1n 18tS4, ~ro~s earnings were $ o5,u37; net $19,058. In 188::J, gross, dilf•!J, 7 29 : net, $2 .l,4.-s8 ; interest payments, &c., $35,680, Total ne t r evenU" ••••. •••••••••••·• ••• ••••••• ••• •.• •. •••. • ~ ,1il31,0l · In J uly, 1879, manage.neut was transferred to the Detroit Laus. ~ No. -(V. 40, p. 5 9 5.) In April, 1882, the stock was increased from $5,000,000 to $15,000 ,000, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4 78 RAILROAD STOCKS AND BONDS~ ' [VOL . .X:LI. Subscribers will conCer a great favor by giving hnmedlate notice oC any error discovered In these Tables. Bonds-PrinciI • I INTEREST OR DIVIDENDS. DESCRIPTION. al,When Due. Miles Date Size, or For explanation of column beailings, &c., see notes of of I Par out:2~g Rate When Where Payable, and by PStooks-Last Cen . Payable Whom. Dividend. on :first page of tables. Road. Bonds · Value. pu r.1· --- - - -· at. Louis Alton cf: Terre Haute-(Oontinued)- fund} .; , lot mortgage (series A) sinking ~ t" { 1st mortgage (series B) sinking fund o Si,oi::I S 2d mortgage, preferred (series C).. . . §4 f <P ~ 2d mortgage, ~referred (series D).... o ~ <P ~ S 2d mortga.ge, mcome................. o ,c .o 't:l Dividend bonds, income not cumulative ..••..•.... Belleville & Caronde'et, 1st mort .................. lit. Lo1tis & Vai1·0-lst M., income (not cumulative) St. Louis Ft. ~cott ct Wichita-1st M. ($15,000 p. m.) Mt. L. Han.ct K.-lst M .. conv. till '87 ($12,000 p.m.) ~t. Louis Keokuk ct N. W. - Stock($1,350,000 is pref.) ½!~g1iri!W!irt.~~~~:: ~: :: .: :::·.-.-.-.-.-.·: :: :: :::: :::: ::: Ml. Louis Salem ct Little Rock-lat mortgage ..•..... at . .lJ<ntis di San Francisco.-Stock, common ........ Preferred, 7 per cent, not cumulative ............. 1st preferred, 7 per cent, not cumulative .......... 1st mortgage (South Pacific), gold, (land grant) ... 2d mortgage 1:>onds, A, gold ........................ do do B, goal. ...................... do do C, golit ....................... Eqmpment mortgage, gold .................... . .... Mortgage on Mo. & Western RR., gold ............ <iJollateral trust bonds, /?Old ........................ St. Louis Wichita & West, 1st mort., gold,ruar ... Gen. M., gold, coup. or reg (a 2d M. on 29 miles) Equipment Trust .................................... 8t. Loi,,is Vandalia <I: Terre Haute-1st M. s. f. guar. 2d mort., sink. fund ($1,600,000 guar.) ..•.... _... 207 207 207 207 ..... ...... 17 144 160 85 1S4 135 135 814 --·· --·· 293 293 293 2&3 ---- 84 100 145 179 i58 158 1864 1864 1864. 186,l 186-L 1881 1883 1881 1880 1877 is76 1876 1872 ---.... is6s 1876 1876 1876 1880 1879 1880 1879 1881 1884 1867 1868 ---- --- $1,000 $1,100,000 500 &c. 1,100,000 1,000 1,400,000 1,000 1,400,000 fiOO&c. 1,700,000 1,357,000 500,000 1:000 1,000 2,600,000 1,000 2,483,000 100 &c. 916,!>31 2,700,000 1,000 1,000 1,620,000 1,000 1,080,000 . ... 1,000,000 11,954,000 10,000,000 4,500,000 7,144,500 500 &c. 500,000 100 &c. 2,766,500 500 &c. 2,400,000 500 &c. 1,000 721.000 1,000 1,095,000 1,350,000 1,000 2,000,000 7,739,000 1:000 45G,OOO 1,899,000 1:000 1,000 2,600,000 ---· ---· ---· St. Louis & Calro.-Thisroad (3ft. gauge) extends from Cairo to East St. Louis, 152 miles witb a branch to High Prairie, 9 miles. The former Cairo & St. Louis made default April 1, 1874, and was sold in foreclosure July, 1881, and bought in, on behalf ofbondbolders. Stock ls $6,500,000, and 5 per cent interest was paid April 1, 1883, on the bonds, and 3 per cent in 1884. Gross earnings in 1883-84, $375,784; net, $78,837; in tereet, $78,000; surplus, $037. St. Louis Fort Scott & Wlchita.-From Fort Scott to Anthony, Kan .. ~14 miJos, completed July, 1 83. Moran Brothers o:f New York and other capitalists. largely interestea. Stock, $5,833.85:'i. Gross earnings in 1883, $286,712; net, $65,099. Gross in 1884, $508,654; net. $ltl5,1108; surplus for interest, $114,745. St. Louis Hannibal & Keokuk.-Owns from Hannibal, Mo., to G1lwore, on Wabash St,. Louis & Pacific, 82 miles. In 1883 acquired control of Forest Park & Central Roact, for entrance to St. Louis. Stock, $1,636.000. Barmngs for 1883, $100,!:l79; net, $6,623. Earnings for 1884. $94,!:il4; ctettcit, $4,214. W. W. Walker, President, Hannibal, Mo. On Feb. 8, 1884, E. J . Case, of Peoria, Ill., was appointed receiver. Sale in forerlosure wa made D ec.8. 1885, and road sold to John. I. Blair for $370,0UO. (V. 40. p. 61,543; V. 4 1, p. 393, 47.1, 689.) St. Louis Keokuk & Northwestern.-Owns from Keokuk, la.. to St . .l:'eters, 135 1u.iles ; leased K eoJmk to Mt. Pleasant, 49 miles ; total operated, 184 miles. Tbe Miss. Val. & Western RR. was sold April 14, 1875, and this company organized July 1, 1875. Road completed in autumn of 1879. Income bonds above were ori!rlnally a part of $2.700,000 first mortgage bonds, but by agreement ibey were changed int-0 their present form. Gross earnings year 1884 $411,494; operating expenses, $412,988; deficit, $1,494. W. W:'Baldwin, President, Burlington, J11,. St. Louis Salem & Little Kock. - Owns from Cuba, Mo., t,o Salem, Mo., 42 miles, and branches, 1~ miles; also 17 miles ofbrancbes controlled; total operated. 72 miles. Reaches St. Louis by St. L. & San F. RR. Stock is $1,000.000. Earnings in 1884 on 54c miles were $53, 882: net, $17,522. A. L. Crawford, President, Newcastle, Pa. • St. Louts & San Francisco.-( See map.)-LINE OF ROAD-This is a considerable system of railroads, forming part of a tbrougb route to tbe Pacific coast. Tbe main line is from St Louis, Mo., to Seneca, 326 miles; brancbe11-Granby branch, 112 miles ; Oronogo, Mo., to Joplin, 10 miles; Girard to Galena, Kan., 47 miles; Carbon Branch, 3 miles; Peirce City to Wichita, Kan., 211::! miles; Plymouth, Mo., to Fort Smith Ark., 13412 miles; Springfield to Chadwick, Mo., 35 miles; ~pringfl.eld to Bolivar, Mo .. 39 miles; total operated, 815 miles. The tracks of tbe Atchison Topeka & Santa Fe are used from Wichita to Halstead, Kansas, 25 miles. Tbis company also operates tbe finished portion of tbe Atlantic & Pacific road, Central Division, from Seneca, Mo., to Red Fork in tbe Indian Territory, 102 miles. ORGANIZATION, &c.-Tbis company was organized Sept. 20, 1876, as successor to tbe Atlantic & Pacific in Mo. Tbe latter embraced tbe South Pacific RR. (originally tbe Southwest Branch of tbe Pacific RR. of Mo., chartered Dec. 25, 1852), which was consolidated witb the Atlantic & Pacific road Oct. 25, 1870. Tbe Atlantic & Pacific road and lands were sold in foreclosure Sept. 8, 1876, and the St. Louis & San Francisco became possessor of the property. Ou January 31, 1880, an agreement was entered into witb tbe Atchison Topeka & Santa Fe for construction l.)f a t'krough line to tbe Pacific coast on tbe parallel from Albuquerque to San Francisco. Tbe road was to cost $25,000,000, and to be built under tbe old charter, of the Atlantic & Pacific Railway. The n egotiations culminated in Aug., 1884, with tbe contracts entered into witli the Sontbern P acific of Cal. and t,he AtchisLn Top. & Santa Fe, for a tbrouab route to the Pacific. Of the At. Top. & S. Fe contract it is stated: "T'his a /,!reement likewise provides that the net earnings of the San Fran~isco and Atchison roads from all east-bound f 1eil-?'bt and passenger traffiecoming over tbe Atlantic & Pacific road from Albuquerque ana poiuts west. destined to points on the east of the Missouri River. shall be equally divided between the two corn1► anies, andtbat such net earnin "'s shall be determined as followw l•.aeh company to be allowed for opnating expenses 50 11er cent &f receip~~. aft~r which there is to be d educted, if required. the 25 p er cent rebate aUowal.J 1e under the tripartite agreement to tbe Atlantic & Pacific Com p,my. ·.rne residue of the gross earnings of each company from such tr.u:c tu oe pooled and divided equally, one-balf to the San Franmsco Company and the other balf to tbe Atchison Company, thus assuring to the San Francisco Company on east-bound traffic a, measure of tbe advantages to wbicb it claimed to be entitled according to the tripartite a~reement. • See annual report in CHRONICLE, V. 40 . p. 594; &1.so title Atlantic & Pacific in this SCJPPLE:MENT At the annual meeting of the stockholders of the St. L. & S. F. Uo. in March, 1885, tbe followmo- directors were elected for tbe ensuing year : o. P . HuntingtoL., Leland §tanford, Jay Gould, Russell Sage, J esse Seligman, E. F. Winslow, Bryce Gray, W. F. Buckley, Horace Porter and A. 8. Be.tcb, of New York; W. L. Frost, of Boston, and C. W. Rogers and R. S. Hayes, of St. Louis. STOCKS AND B()~.--Tbe flr€t preferred stock bas prior right to 7 per eent (non-cumuhtive) ; then pref. entitled to 7 per cent; then common entitled to 7; then all classes share in any surplus. The tel'D!s of tbe p, eference of the first preferred stock are stated in tbe certificates as follow.;;: •·This stock is entitled to a dividend of 7 per cent per annum , derived by tbe company from net revenues from all sources eacb current year <remaining after the payment of . interest upon all https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis J. & J. 7 A. & 0. 7 F. &A. 7 M.&N. 7 M.&N. 7 6 IJune 1 J. &D. 6 5 g. A. & 0. 7 A. & 0. A. &O. 7 ··•rg. J. .&.. J. J. & J. 7 A. & 0. 7 .... ·--- "3ig 6 6 6 6 7 ~ 6 6 6 7 7 g. g. g. g. g. g. g. g. - N .Y. Offlce,34 Nassau St do do dv do do do do do do do do do New York or London. New York, Moran Bros. Last pai~, Oct., 1883. 189! 1894 1804 1894 1894 Jan. 1, 1894 June 1, 1923 1921 Oct, 1, 1910 Oct. 1, 1917 ··-······· ............ Jan:· "iooa Jan. 1, 1906 April 1, 190'l 1; N.Y., Union Trust Co. ---····· ·-····-··- F.·&·A. N. Y., Co~pany;s Office. J. & J. do do M.&N. do do M.&N. do do M.&N. do do J. &D. do do F. &A. do do F. &A. do do M.& S. do do J. & J. do do A. & 0. do do J. & J. N. Y., Central Trust Co. M.&N. do d0 i·o; "i885 A ug: July, 1888 Nov.1.1906 Nov. 1, 1906 Nov. 1. 1906 .JUL6 1, 1895 Aug.j J-919 2 1919 .July 1 1931 A .&0.5 p.c. ea. Jan. 1. 1897 May 1, 1898 liabilities) in preference to any dividend upon any other class of stock issued by tbe company, and is entitled to share pro rata equally witn any other class of stock in any excess or annual dividends that may be made by the company upon any class of stock greater than 7 per cent; and by re~olution of the company bas priority of lien on n et revenues for sucb dividend over any mortgage bond that may be issued by the company subsequent to tbe creation of tbis stoclr." Dividends bave been paid on fl.rat preferred stock in 1881 and since at 7 per cent per annum. T.ae range of the stocks yearly since 1877 has been: First preferred in 1878 (4months), 5121i>ll~; in 1879, 9¾1E7812; in 1880, 601i>100; in 1881, 90'ci>l1512; in 1882, 7934@10612; in 1883, 87@10012; in 1884, 701i>9fl12; in 1885 to Dec. 18, 79n99½. Second preferred in 1878, 112@514 ; in 1879, -Ps@6012: in 1880, 33@ 65; in 1881, 5 5-w8l14; in 1882, 431v6Li12; in 1883, 40W5912; in 1 884, 2412@50; in 1885 to D ~c. 18, 301i>497s. Uommon in 1 878 (3 months,, l 12@4ls; in 1879, 318@53; in 1880, 21514 1i>48; in 1881, 391i>55; in 1882, 311i> l6 7s; in 1883. 20121D3614; in 1884, ll½la> 29 ½a; in 1885 to Dec. 18. 1712 @24½z. Tbe trust bonds of 1880 are secured by deposit of 7 per cent mortgage bonds of the St. Louis Arkansas & Texas RR. and .Toplin RR. The general mortgage of 1881 (supplemented by tb11,t of June, 1832, chan°"ing tbe rate of interest to 6 per cent) for $30,000,000 is made to tbe if'mted States Trust Company as trustee, and $17,261,000 reserved to take up all prior debt. This generalm01tga.geis a:flrst lien on 179 miles of new road, besides coverlng the mileage on wbicb are tbe prior liens LANDS.-Tbe South Pacific Railroad had a grant of lands by act of Con~ress June 10, 1852, of 1,161,205 acres. The Atlantic & Pacific received about 507,000 acres of land. Tbe South Pacific lands showed 155, -:-74 acres on hand January 1, 1885. Atlantic & Pacific lands showed 1,411 acres on band at same date. Tbe land deoartment assets were estimated Dec. 31, 1884, at $962,244. including $383,735 in 1and contracts and $183,866 casb. OPERATIONS, FINANCES, &c.-The St. Louis & San Francisco has been one of tbe successful reorganized railroads of the Southwest. and bas made good progress in traffic and income, without very heavily increasing its annual interest charges. Tbe relations with the Atlantic & Pacifl.c Co., as a part owner of its stock jorntlv witb tbe Atchison ·.ropeka & S. F. Co., are somewhat complicated. (See tbe annual report iu V. 40, p 594.l Tbe St. Louis & San Francisco annual report for 1884 (CHRONICLE, V. 40, p. 594) bad the followmg: 1881. 1882. 1883. 1884. Miles operated ..... . . 661 7'1.5 776 814 Earning.it$ 51 $ $ 665,331 842,266 Passenger ........... . 741.388 941,161 Freight .............. . 2,342,610 2,648,383 2,793,503 3,406,414 Mail, express, &c ... . 152,582 182,469 260,796 296,021 Total .......•...• . Operating e.xpemes . . 3,160.523 '1,617,966 Net ear.iings .. ....... 1,542.557 1,946,459 INCOME ACCOUNT. 1882. 1881. $ $ 1,542,557 1,946,4;59 50,648 56,857 Recei11ts- Net earnin~s ... .. .... Other receipts . ..... Total net income. Disbur sements- Interest and sink. fd. Int. accrued. not dne. Divs. on lstpf. stock. --1,593,205 $ 984,067 109,865 S15,000 -1,408,932 3,572,240 1,625,781 --- 2,003.316 $ 1,099,343 49,026 315,000 3,896,565 1,~23,128 4,643,596 2,135,378 -2,073,437 --- 2,508,218 1883. $ 2,073,437 24,376 1884. $ 2,508,214 14.838 $ 2,523,056 $ 1,826,203 ----2,097,~-.3 1,343,4.36 11.00! 315,000 -1,669.440 --- 242 315,000 Total disbursem'ts. 1,499,754 2,141,445 Balance, surplus . ... 184,'L-73 503,562 428,373 381,609 -(V. 39, p .' 55-1; V. 40, p. 214, 270, 305, 338, 581, 588, 594, 474; V. 4.1, p. 613) St, Louis Vandalia & Te1·re Haute.-Owns from East St. Louis to Indiana State line, 158 miles. Road opened .July 1, 1870. It is leased to tbe Terre Ha11 te & Indianapolis Railroad at a rental of 30 per cent of gross earnings. For tbe year ending October 31, 1884, the net income was $447,092, and the year's charges against this sum were $3 ti2,08~; leaving a surplus for tbe fl.seal year of $85,009. In operating this road tbe loss to lessee has been in 1880-81, $281,080; lll 1881-82, $70,2.72; in 1852-83, $115,399; In 1883,8-l, $71,549. The annual report for 1883-84 was published in tbe CHRONICLE, V. -10, p. 150. Tbe :first mortgage and $1,000,000 of second mortgage bonds are guar. by tbe iessees and also by tbe Pitts. Cin. & St. L. RR. The stock is $2,383,016 com. and $1,544,700 pref. Tbe pret. was issued for income bonds ($1,000,000) and for deficiencies made up by tbe lessees. Thos. D. Messler, Pres., Pittsburg, Pa. Operations and ea.m's for four yea.rs were: Pass. Freight (ton) Gross Net Years. Miles. Mile. Mile. Earnings. Earn'gs. 1880-81 .. 158 19,161,449 107,089,535 $1,565,515 $188,574. 188 l-S2 . . 158 lB,311,812 115,982,845 1,596,126 40~,566 1882-83 .. 158 18,585,282 111 ,8 10,481 1,700,954 4.42,21~ 1883-&'' . - 158 18,74 1.460 104,209,720 1,490,307 375,54 - v. 4.0 p . 150, 356.) MAP OF THE ST. LOUIS & SAN FRANCISCO RAILWAY AND . ITS CONNECTIONS. Erojected R. R. i'lllilllillllllllllllllllilillllilllllllllllllllllt. A ~ ..... CONTI NUATION OF THE ATLANTIC 8c PACIFIC RAILROAD AND CONN,IilCTICW,1:>, Reduced Scale. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD STOCKS AND BONDS. 80 [VOI.. XLI. Suhscrlber8 will conCer a great Cavor by giving llnmedlate notice oC any error dl8covered In these Table8. Bonds-Prtnc1 INTEREST OR DIVIDENDS . DESCRIPTION. Miles Date Size; or Amount Rate per When Where P~ble, and by pal, When Dur. P ar of For explanation of column headings, &c., see notes of Stocks-Last Road. Bonds Value. Outstanding Cent. Payable om. on first page of tables. Dividend. ·----- ---- ·- - Bt. Paul cf Dul-uth--Preferred 7 p. c. stock & srrip. Common stock .................. ..... . .•.........•. 1st mort. bonds, coup. or re~ .......... ........... . Taylor's Falls & Lake Snp. lstmort., cp.,guar .... /Jt. PattL Minne(:{,pohs &_Manitooa-Stock ... . ........ 2d M., and l st on road from St. Paul to Watab .... 1st mort. land grant sinking fund, gold ....•..... 2d mort .• gold ... ........................•......... Da,k. Ext., lstmort., gold ($12,001, per mile) ...... Conso1 mort., fld (for $50,000.000), coug, or reg. Minneap. Un. R.. lat M., goid,guar.($3. 00,000) Bt. Paut er; /Vo ..Pac.-Stock ($10,000,00 .1authorized) General mort .. ~old, ld. gr., coup. or reg ........ . Western Rt<., Mmn., 1st mortgage, RR ........... Bandus1ey Mansfield tt N ewa1·kr-Re--organized stocx. 1st mortg-age, new ...... ....•.......••............. Ban .Francisco&: North Pacific-Stock .•• •.......... . .JJavannah Florida d: West.-At. & G. consol. mort .. South Georgia & Florida, 1st mortgage .....• . ..•. do do 2d mortgage .........•. Sav. Fln.. & W., 1st mortgage . ... . .... ...•....•... Bavannah Gritfin&.N.Ala.-lst mortgage ........... &Miiectad~d: Duaneslmrg-lst M., guar. D. & H . . l.khuylkill alley-Stock ..•.•..•. ....•.............•. /Scioto Valley-lRt mort. (s. fund $13,000 per year> . 2d mortgage (sinking fund, $5,000 per year) . .••• Consol. mortgage ......... .. .... ...• ....•. .• .....••. Equipment bo11ds . .•...•...........•............••. &aooard &: .Roanolre--Stock ($244,800 is pref.) ..... ./Jhanwkin Sunbury d: Lewisburg-1st mort., coup. 2d mortgage ..•......•...•••.............•••.••...•. 225 2~5 169 21 1,31'0 76 656 656 413 1,39-! .... iss·1 --. $ . ••• i869 1·.000 1,000 100 1,000 100 &c. 1,000 1,000 1,000 1,000 100 1,000 . 1,000 50 1,000 is61 1869 1869 1884 1871 14½ 1874 19 98 i876 9q 1879 124 1880 500&c. 1,000 1,000 1,000 1,000 100 &c. 50 500 &c. 1,000 1,000 126 1/'>2 6012 116 116 93 ~86 58 58 0 0 1884 i862 1879 1879 1880 1883 1882 i883 1877 60 80 31 . ... . ... i882 1884 100 1,000 1,000 ------ $5.376,970 4,055,407 1,000.000 210,000 20,000,000 366,000 5,250.000 8,000,000 5,676,000 13,044,000 2,150,000 5,000,000 5,000,000 431:l,OOO 1,0ti8,832 2,300,000 3,750,000 1,730,500 464,000 200,000 1,724,000 500,000 500,000 576,050 1,294,000 283,000 553,(lOO 84,000 1,302,800 1,000,000 500,000 312 --ir 6 112 7 7 g. 6 g. 6 g. 6 g. 6 g. 112 6 g. 7 3 7 7 7 7 6 7 6 2lg 7 7 7 7 5 5 6 J. & J. F .. &..A. J. & J . Q.-F. J. & J. J. & J. A. & 0. M.&N. J. & J. J. & J. Q.-J. F. &A. M.&N. N. Y., Fourth Nat. Bk. Jan. 1, 188 6 N.Y., Centrai"Trust Co. do do N.Y., 63 William St. do do New York and London. do do N . Y., 63 William St. do do do do N.Y., Winslow, L. & Co. do do do do Moss N. Bk.,Sand'ky,O. .r..&.J. N. Y .• Union '.l'rust Co. J. . &.J. New York;if":s. Plant. M.&N. do do M.&N. do do do do A. &O. J. & J. Savannah, Cent. RR.Bk M.& 8. D el. & Hud. Canal Co. J. & J. Philadelphia, Offiee. J. & J. Last paid July, 1884. A. &O. Last paitl Jt1ly, 18d4. J. & J. Last paid July, 1884. M.&N. N. Y., Wmslow, L . & Co. M.&N. Balt.,F,1rm.&Pla.nt. Bk. M.&N. Phila., Phil. & Read.RR. F. &A. do do Ani...i:·imn Jm 1, 1894 Nuv. 2, 1~85 1892 1909 Oct. 1, 1909 Nov. 1, 1910 July t, 1933 Jul7. 1, 1922 April 15, 1885 I<'eb. 1, 19 3 , May 1, 1907 Feb. 1, 1885 July, ·1902 Jtiii ... is.97 May 1, 1899 May 1, 1899 Apl'il 1, 1934 July 1, 1891 Se:ot. 1, 1924 July 15, 1885 Jan. 1, 1896 April 1, 1894 July 1. 1910 Nov:·i·,··i885 May 1, 1912 Feb. 1, 1924 ana from Minneapolis and St. Paul. The tern1inal improvements at Minneapo:is are on 20 acres in the business centre of the city, and for similar purposes in and about Minneapoli and St. Paul. a total of 490 aores is own ed. The land grant of the company is 1ocated along the line of the road between Brainerd and Sauk Rapids, and about 2 i 0,000 acres remain_ unsold. The roa.d, with its t erminal property, is lea-sfd for 999 years to the Northetn Pac. at a n et rental " qual to 40 p. c. of the gross receipts, but the bonds are µ-uarantePd principal a •,d interest. The stock is. plac<'d in trust with Farmers' L. & T Co., the power to vote being held by N rtbern Pa ·r fic Company; but" beneficia ry cntiticates " entitlingh nlders to dividends are issued. The general mortgage is 1'or$10,U00,0,.10, and is a first lien on the whole property, excepting that:. it is second to tlte Western Minn. mol'tgage on 6012 miles and on part of the lands: the regi'5 tered interest is payable quarterly-February, May, An.\!'. and Nov .; only $5,000,000 have yet been issne\l, and enougll of the is.;u,~ is reserved to retire the Wt"stern Min nesota. bonds in above table. Since 1877 re.~ularca,shdiddends havebeen paid, averaging over 6 per cent per annum. (V. 39, p, 49, 545.) Sa,ndusky lliansfieldJ& Ne,vark..-Owns from Sandusky, 0., to Newark, 0., 116 miles. A consuiidation of several roads iu 1856. Leased Feb. 13, 1869, to Central Ob.io Railroad, guaranteed by Baltimore & Ohio, and new lease made February 23, 1880, extending to December 1, 1920, with option to the Balt. & Ohio Company to rene w 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 1881-82, groi:;s, earnin15s, $940,769; net, $2J4, 71·1; in 1882-83, gross, $991:1,128; net,. $2l:.11,7tsl; in 1881-84, gross$1,0o.!,775; net,$:l78,331. Sau Francisco & North Paclfic.-Owns from Donahue, Cal.,. to· Cloverclale, Cal., 56 miles; branches-from Fulton, Cal., to Guerneville, Cal., 16 miles; and San Rafael to Petaluma., 21 miles; total 03 miles. This is a consolidation of several companies . Earnings were:: In 1883, gross, $53.:l,821; net, $263,296. In 1882, gross, $-505,771; net, $221,!:.187. Savannah Florida & Western.--Owns from Savannah, Ga., to Chattahoochee, Fla., i58 miles; branches-Bainbridge Junction to Bainbridge, a wiles; extension. to Savannah w harve:i, 2 mile:i; Junction Hrauch, 4 miles: Dupout to Live Oalr. Fla., 4g miles; Live Oak toBranforll, 24 miles; '.rhomasville to Albany, 58 miles; Wa.vcross toJac~sonville. 75 mile;;; New Br rnfol'Cl to Gainesville, 46 miles ;, total, 5~5 miles. Tllis was a cousolidt~tion in 1 865 of tlle Savauna.h. Albany & Gt1lr Railroad and the Atlantic & Gulf nuder the latter nawe. 'I'he Atlantic & Gulf roa,d was sold in foreclosure of the second murt~age on November 4, 1879, subject to the consolidated mort,;age autl other prior liens amountiu~ to :wont $2.705,000. The present co1.upauv has a capital stock of !ti5,34;),300, which is held in very fewhandd :ind divideuda are paid as earnecl. The earl.ling in 1883 wer& $J.l-1:3,L:H> ,gToss and $376,402 n et. fn l 884 gros~ earnings. :f;2,2J9,1'.l09: uer,:,:380 .707. Fixedch .. rges, ~n55 .7-t9; surplus, $28,195. H. BPla11t. President, New York. (V. 4u, p . 683.) · Savannah Griffin & North Alabama. - Owns from Griffin .. Ga., to Carrol.lton, Ga., 60 milee. Opern.teLl in connection with Central H.ailroad of Georgia. Capital stoc:,, $1,011,2-15. In 1883- 84 !{l'ORR earnings $61,9139; net, $16,179. In 1884-5, 1!.ross, $5.:3,841; net, $6,244. Schenectady &: Duanesburg.-From Quaker Street Junction ,. N. Y., LO l:lchenectady, N. Y., 14 miles. Formerly Schenectady & Susq u ehauna Railroad, and was foreclosed in 1873; reorganized and lea,ed in perpetuity to the Delaware & Hudson Canal Company. Lease rental,. $30.000 per year, paying 6 p er cent on bonds. Stock, $100,500. Schuylkill Valley.-Owns f!om P a~o Alto to Reevesdale, Pa. 11 miles; 1Jra.uche8, 8; total, 11) miles. It 1s an old road, and was leased. to the Phila. & Reading RR. from Sept. 1, 1861, at an annual r~ntal: of 5 pet· cent on the stock. Operations are included in the Philadelphia & Reacling reports. Has no bunded debt. Sclot0 Valley .-Owns from Caldwell Junction, on B. & O. RR.. to INCOME ACCOUNT. _ Portsmouth Juuction on the C. W. & B., 9 6 miles, and trom Sciotoville· 1881-82. 1882-83. 1883 -84. 1884• 8 .J. Junction on C. W. & B. to Petersburg, on the Ohio Ri ver (opposite Ash$ $ $ ~ land, Ky.), 25 miles; total, l:.! I ruil.-.s. In 1884. gross earniJ.·gs, $556. Total gross earnings ..•••• 6,629 ,694 9,148,524 8,256,868 7,77o,161 • 9t-33; ueti. $t36,;579; reutal, $5.i,47n; inteeest ou bonds. $155.400: N et earnings. _ .......... . 3,113,916 4,553,468 4,327,478 4,266,237 • other interest , $60, ,70; detlcit for year, $UJ5,H 10. A proposed plan of R e venue from _and Dep't 8ti0,677 8 t3,1)45 4,8,170 1::$ L,292 , fuudin 6 iutcrest and placiug all mort.~ a,g-e bondholdf'rs and hold~rs of Other receipts ............. · 92,106 66,2d4 tl,oatin.)( dtbt on about tlle Rame footrng was brought forward m the, 3-1,259 214,434 interest of Mr. C P. Huutingtou, who had a. large j udgmcnt againi:-t theTotal income ....•..••• 4,008,852 fi,459,519 4,960,182 4,463,813 cumpany, but was rt'Sist ~d uy the first mor1g. bond!Jo Ld ers, w ho organ $ I. ized a st r~uc{Committee to buy the road Qll foreclosure. J. L. RobertDisbitrsements$ $ $ Interest on debt ....•...•.. 1,188,091 1,264,279 1,949,690 l 98o 200 son, 'Jha1rmau, 7 Nassau Street. 1'3oo·ouo Recdver (Jas. Robins0n) was appointed h.1 June. 1885, on a.judgment Dividends ..........•...•.. 975,000 1,724,664 1,600,000 • 6 ig of C. P. llt1n.tingrou for $03::),::$115 . Frank H. Da.vis, President, New Rate of dividend ......... . 8 8 8 131 292 York. (V. 4U, p. 5U9, 617, 6::s5; v. 4t, p. 190, 4~1, 557, 613.) 702,864 inkingfund ..•..•...••..• 813,945 418,270 ' Seaboard & Roanoke.-Owns from Portsmouth, Va., to ·weldon •. 1 57,812 i.scellancow •••••.•..••.• 381,545 N. U•• dU uulea. Of the swck, ;Sl,058,700 is common, $'200,000 is 1st 'T Total disbursements .. 3,023,767 3,802,888 4,3-19,505 3,411,492 p er 1wnt u111tr., and $-14,200 is 2d guar. Net earnings 1883-84. $186,778;:. Balance, surplus.... . ..... 985,085 1,656,631 til0,677 1,052,321 1884-85, $163,191. J.M. Robinson, President, Baltimore, Md. (V. 40, p. 080.) -(V. 40, p. 652; V. 41, p. 2-11, 306,318, 341,431. Shamokin Sunbury & Le,vlsburg.-Line from Shamokin to St. Paul & Northern Paclftc.-Line of road Brainerd to Minneap olis, 126 ruilee. Thi::! eowpany wa,s incorporated in 1874 as the Western west M.iltou Pa., witll iron bridge over Susquehanna RiYer at Sunbury. RR. Co. of Minnesota; from Sauk Rapids to Minneapolls was completed The road was built by Philadelprua & Reading, and opened in 1883 fo.Jr July 1, 18 . 4. Over it now passes the entire traffic of the No. Pac. RR. to its coal trat!ic north ward. Steck, $1,00u,voo. St. Paul &: Du]nth.-LINE OF RO.A.D.-8t Pirnl, Minn., to Duluth, Minn., 155 rules; branch to Knife Falls, 7 miles; leased: Stillwater & St. Paul RR., 13 miles; Minneapolis & Duluth RR., 12 miles; Taylor's Falls & Lake Superior, 21 miles; Grantsbur~. Branch, 17 miles; total, 225 miles. Between Northern Pacifl.c Junction and Duluth, 24 miles, the road is owned jointly with the Northern Pacific. T1us was the Lake Superior & Mississippi RR., opened August 1, 1870, and leased to the Northern Pacific. Default was made Jan. J, 18751 and road sold in foreclosure May 1, 1877, and this company orgauizea ..June 27. '.rhe preferred stock is received in payment for lands at par. Three shares of common stock have one vote and each shn.re of preferred has one vote. Preferred stock has a prior right to 7 p er cent; then common to receive 6 p. c. from net earnings only, remainder of earnings and otb.er income to be applied to purchase of pref. st<w.k. , The net income from 1878 having been spent on improveme nts, it was determined to issue lo per cent of new preferred stock to the preferred stockholders of record Nov. 1, 1881, payable Nov. 14, to r epresent the cash so spent m improvements, and since then 7 per cent more in ·preferrf d stock has been paid to July 1, 1885, but resolutions :passed to apply income tllcreafter to casb. dividends. The company has a land grant, of which 1,168.076 acres remaL'lerl unsold July 1, 1685, and 70,9~9 acres of theTayl11r's Falls B1·aach. In 1884 land and stumpa)!e i-ale1-1 amo11nted to $64,905, and ,lefe1-red payme11ts (land accounts) Dec. 31, 18':l4, were $431,875. Gross earuings and net income on railroad 01Jly, arter deductmg a .l fixed charges, were as follows: Gross Net Gross N et earnings. earnings. earniuirs. earnings. 18!U. ... .... $732,630 $50,24911863 .•....•. $1,32 ➔ ,527 $271, I do 1882 .••..••• 1,109,840 261,241:i 1884. ..... . .. 1,317,314 398,0:H A later report for the dividend year ending June 30, 188-1 , was in V . . 41, p. '!.72, sllowing total net receipts inclridin,r land sales $5;i5,866; · net surplus 01 year applicable to dividends, $399,6:'I~. -,(V.39, p. 7'2, 183; V. 40,p. 267,764; V, 41, p. 2'72, 357) St. Paul 1'Ilnneapoli8 &: llianltoba-(See Map).-Owns from St. Ptiul to 1'.:wer.;ou, ::Sl:J ,., wiles; Miuneapolis to Gretna. via Brcc ~iuridge, 4 t3 miles; Minni-apolis to Hinckley via St. Cloud, 1J2 miles : Sauk Ccintre to Eagle Bend, 36 miles; Fergus Falls to Pf>lic,1n Rapids, 23 miles; Crook,,ton to D evil's Lake, 114 miles; Shirley to St. Hilaire, 21 mile~; Wayzata to :::,pring Park. 6; Morris to Brown's Valley, .J.7 mile,; Brcckenringe to Park tdvtr, 168 ,riles; Everest to Portl,md. 47 miles; Ripon to Hope, 30 miles; Moorhead to Halstad, 34 miles; total operated, 1,475 miles. This company was organized May 23, 1879, under the charter of the St. Paul & Pacific R11,ilroad, and embraced the St. Paul & Pacitlc Railroad, the .First Division of the St. Paul & Pacific Railroad, the R ed River Valley Railroad, and the Red River & ManitolJa Railroad. 1'b.e company had a land .11,raut of 3.84:l,OOO acres. The proceede of laud sales are reserved by the first ::.a ,rtgagc trustees as a sinking fuud for the redemption of the r,~mds at or under 105 and interest, anu bond8 are called iu yearly so far as the funds are in hand. l 'he second mot·tgag<1 bonds do not cover the land. The land. sales for year ending June 30, ldb5, were 65,555 acres, for $:-31 7,573. The net amount due .~n land contracts June 30, li:185, was $696,663; lands unsold, 2,348,535 acres. The D8J.OIA Extension bonds are issued at $12,000 per mile. The consolidated mortgage bonds of 1883 were issued to stockholders of May 1, 1883, to the extent of one half their holdings on ::he payment of 10 per cent of the bonds in cash. '. rhe authorized P,mount o ~ consoli• dated ruortgage is $50,0UO,OOO, of which $19,426,000 were rel.'lorved to pay prior liens, and tile balance may he issued for new road &t $15,00o per mile single track or $27,000 per mile double track. The Minneapolis Union l{R ir-1 a counecting road f 1lr other roads from the stock vards at St. Paul to Minneapolis, and its stock is $1,000,000. • aJJ~o~ual report for year ending June 30, 1885, was in 41, p. 2-H https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I v. 0 T --, ad 00 00 .... P! ~ I https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD STOCKS AND BONDS. 82 LVOL.XLI. Subscribers ,vlll confer a great Cavor by giving hnDledlate notice oC any error discovered In these Tables. DESCRIPTION. .For explanation of column beadings, &c., see notes on first page of tables. Bonds-1:'rinciINTEREST OR DIVIDENDS. Wilen Due. Miles Date Size, or Amount Rate per When Where Payable, and l>y pal, of of Par Stocks-Last Whom. Dividend. Road. Bonds Value. Outstanding cent. Payable · - - - -- Shamokin Valley & Pottsville-Stock .. .............. 1st mort~ge, gold, on road and landR ............ 'Valley- lat mortgage ..... .. ....... . ... General mort., gold . .............................. . 3d mortgage income bonds, registered., non-cum .. Car trus,; certi1kates . . .. . . ........ .......... .•. . .. . Shenango & A.lleqhany-lst mort~age . .. . ......... West Pennsylvania·& Shenango, l11t mortgage ... IJhoreLine ((Jonn.J -Stock .......................... lat mortgage . .............. .. .... .. .... . . .. ........ &>dus Bay & Southe1·n.-lat mo,tgage, gold ......... IJcmierset-lst mortgage, gold ........................ l!henandoa 57 1869 500 &c. ..... . 50 50 34 25 247 247 247 247 247 247 181 183 183 lat mortgage, 1:1terling loan .... .. .................. 1st mortgage, .iollar bonds CL) .................... lat consol mortgage (for $5,000,000) ............. ·clIDluiaif.;ei:::::::: r:c~~!<!:ftJf!ieonilEi (net ~ No . .Aiabama-1 st M. , endorsed by Alaba~a. Bterlinf mort., a. fund, ~mar. by L. & N .......... 2d mo1 gage bonds (owned by L. & N.) ........ . ... &>. i871 1880 18 81 1883 $50 500 &c 1,000 1,000 1,000 ..... South Oarolim~tock ... . ...... ............ . ........ 76 &>uth Pacific Ooast-Stoc.lr. ............... . ....•. '. .. JJ01ith PennS'!Jlvania-Stock (for $20,000,000) ....... --- 29 28 254 254 254 .... ---- ..... ...... . .... . . ..... 100 1880 lOOO&c. 1884 1,000 1871 100 ...... 100 1868 Various 500 1868 1881 1,000 1881 1,000 1,000 1881 1,000 1870 .£200 1873 1,000 18~0 ........ ........ . .... . ..... $869,450 2,000,000 2,270,000 4,113,000 2,500.000 584,9ti9 1,~00,000 --- -·--· 1,000,000 200.000 500.000 450,000 4,204,160 3!1,<)19 380.500 4,276,000 1,130,000 2.538.000 391,000 4,620.110 2,0L•0,000 1,000,000 m (i) lat mortgage (for $20,000,000) ......•............ . ..... 1·,000 &>uthern Uent. rN. l' .J-lst mort a e bonds ........ i"i4 1869 90,000 New consol. mort. (for $3,400, O ) convertible . .. 114 1882 200 &c. 2,967,400 Southern Ma1-yland,--lat mortgage. gold . ....... ... 500,000 ...... 'ioo 85,637,300 Bouthe1·n Pacific OOMP.ANY-Stock ($100,000,000) 4,750 9,604,000 Southern Pac. o[: Arizona-lst mort., :tld,cp. or reg. 384 '79-;80 1,000 South. Pac.(Oa .)-let mort.,gold,la.n gr., cp. or reg. 955 '75-'82 500 &c. 32,932,000 Monterey, lat mortgage ............ .......... . ... . 250,000 15 1880 1,000 66 ShB.Dlokin Valley & Pottsvllle.-Line of road, Sunbury, Pa., to Mt. Carmel, Pa., 27 1rules; branch to Lancaster Colliery, 2 miles total 2U miles. The road was lea.sed February 27, 1863, to the Northern Central Railway Company, with a guarantee of interest on the l>onds and 6 per cent per annum on the stock. The yearly reports will be found in the CHRONICLE with the reports of the Northern Cent. RR. Gross earnings for 1883,:_ $500,688 : net, $300,847. Gross earnings for 1884 $4;H,8:l7; net, :i;226,927. Geo. B. Robe1ts, President, Phila. Shenandoah Vnlley.-FromHagerstown, Md., to Waynesboro and thence to a connection with the Norfolk & Western roao at; Roanoke, 238 miles and l.,ranclies 17 miles. A close contract ror workin~ and an exchange of stock for Norfolk & Western stock; also a contract with Penn. RR. tor exchange of business was made in 1883, by which the Pennsylvania and the Cumberland Val. RR. companies agreed to lay by a certain percentage of tht'ir ~ross receipts from business with the Shenandoah Val to be used for the :purchase of Shenandoah Valley's i:i eneral ruortg. bonds. In any year prior to October 1, 1888, this fund could be applled t,o the purchase of coupons if tile earnings were insufficient to pay ~ :s~:cH~ l~~,696,200, of wLich $3,057,100 [is held by the w,i;ri~·& In March, 1885, owiug to a d eficiency in f-arnings to meet liabilities, Sydney F. Tyler was appointed receiver. ou application of the Fidelity Insurance Trust & Safe Df'posili Co. The .April interest is in aefault. In 1884 ~oss earnjngs were $742,371, against $854,415 m 1883; net, $129,356, against $192,2!)7. See anunal report for 1884 in V. 40, p . 682. CV. 40, p. 183, 391, 427, 50&, 543, 682, ti86, 764.) Shenango & Alleghany.- Owns from Greenville to Hilliard, Pa.. 47 miles; branches, 10 wi1es; total opflrated, 57 miles. Leases the West Pennsylvania & Shenango connecting 1·oad, extending from this line to Butler, 24 miles, under construction in 1883. The company made default in 1879, but t,b e October coupons were paid Feb. 21, 1880. Road went in t o bands of receiver, and foreclosure proceedings begun in June, 1885. Stock, $200,000. Gross earnings in 188j, ~192,30.t; net. $73,401 . Gross 1884, $185.991; net, $65,183. A.H. Steele, President, Titusville, Pa. (V. 40, p. 717; V. 41, p . 134, 421.) Shore Line (Co~n.)-Line of road, N ew Haven, Conn., to New London, Uonn., 50 rrules. Lea ed to New York & N ew H aven RR. Co. in ~rpetuity Nov. 1, 1870, at $100,000 net per annum. Chartered as New a:aven & New London RR.; sold in foreclosure and reorg-anized unc.ler present title June 29, 1864. Dividends 312 in Jan. and 4 in July. Operations and earnings are included in the reports of the lessee. Somerset.-OaJdand, Me., to Anson, Me., 25 miles. Capital .5tock· $379,050. ln September, 188::l, the l>ondhohlers took possession and pre; ~ared to r eorganize .the company. Gross earnings in 1883-::!4, $31,162; net, $4,175. Grt ss rn l 88:l-83. $25,9!)6; net, $1,ti60. Sodus Bay & ~outbe~n.-From Sodus Point to a junction with the Elmira Jdf. & Cauendaigua at Stanley, N. Y., ::14 miles. The Ontario Southern was forecloeed Nov ,, 1882, and this company organized. Th e etock. is $500,000, owned by Northern Central RR. Co., by which this road 11' 011erated. (V. 39, p. 734; V. 40, p. 153, 763.) South Ca~ollna.-Owns from Charleston to Augusta, S. C., 137 m. , branches to Uolumb1a, 68 m., and to Camden, 38 m.; extension. 4 miles · total main line and branches, 247 m. Default was made and the roa i :i~~~!~r~~~~!:1'a: !rtv:.8, '81, and the company Wal! reorganized with The company held in its treasury, Jan., 1885,' $200,000 2d consoli· !.o.ted bonds and $462 OoO incomes. The annual report was in the 1,.,HRONICLE, V. 40, p . 330. INCOME ACCOUNT. 1882. 1883. 1884. $ Total gross earnings............ 1 ,313,821 ~et earnin~s........ .....••. ... 501,191 •)ther receipts........ ......... 3,497 $ 1,326.969 432,875 13,8!W $ 1,233,292 382.724 5,8S0 Total income .............. . ---504,688 -·--446,765 -388,604 --- Interest on tleht . ............ . _. Interest on incomes ......... . .. Miscellaneous ..•.......•. . _. .. 357,•n7 120.900 4,149 373,75! 76,140 2,472 382,722 ····252 Disbursements- --- ---- Total disbursements........ 488,866 452,366 382,974 Balance .... . ................••.. sur. 15,822 def. 5,601 sur. 5,630 -(V. 4.0,p. 336.) South & North A;laba~a.-Owns from Dec~tur, Ala., to Montgomery, Ala., 18~ miles, with a branch of 6 miles from Elmore to Wetumpka. The road is controlled by the Louisville & Nashville RR . Company, which owns a majority of the stock and all of the second mort• gage bonds, $2,000,000, due 1910, which are pledged with the Union '! 'rust Co. as s~curityfor the L. & N. bonds, dated June 1, 1880. 500,000 acres of land m Alabama, largely rruneral, 11.ave been transterred to the Louisville & NasL.ville Co. (;ommon stock, $1 469,082; preferred stock ,2,000,000. In 18~4·85 gross earnings were $1,541,289; net, $537,481; mterest anrl taxes, $560,847; deficit, $2::l,365; due Louisville & Nashville RR. Co .. $1, 733,8u5. So~th Pacific Coast (Narro-w•gauge).-Owns from Newark to .Junction (Felton) , Cal, 45 m.; leased-l:!an Antonio <.;reek to Newark 25 ·.n.; Feltou to Santa Cruz, 6 m. ; total, 76 m. '.rhere are no bonds. uut in Jan., 1884. there was ctebt due the treasurer of $1,791.322. Gross earn1.i.gs 1883, $711 426 · net, $197 686. A E. Davis, Prest., San Francisco. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ------- F. & 3 7 g. .J. & 7 g . J. & ~ g. A. & Feb. ---· 7 . ..... 312 412 5 g. 7 g. 5 5 g. 7 6 6 6 8 g. 6 g. 6 . ..... A. Philadelphia,Treasurer. J. do do J. Last paid Jan., 1885. 0 . L ast paid Oct., 1884. 1 Noue paid. None paia, A.·&·o . N. Y., N.Bk. of Com'rce. ---J. & J. M.& s. ---· --·-·· N. H., Nat. N. H. Aug., 1885 July, 1901 Jan. 1, 1909 April 1, 1921 Jan. 1, 19~ ---- ·- -- 188!.i & 1907 .. ......... Bank. Jan . 5, 1886 do do l.Harcll, 1910 J. & J. N. Y., Penn. RR. Office. July 1, 1924 J . & J. .Tuly, 1891 ............. :- Ft:b. 1, l 83 -- ---·------J. & J . London. 1885 to 1888 J. & J. N.Y.,Co.'s Office, 68 Wm 1885 to 1888 A. & 0. tlo do Oct. 1. 1920 J. & J. do do J a n. 1, 1931 Yearly. do do Jan. 1. 1931 J. & J. N. Y., Drexel, M. & Co. Jan. 1, 1890 M.&N. London, Baring Bros. May 1, 1903 A. & 0. N. Y. Union Trust Co. 1910 . ....... . ....... ---- -·-· . ...... ---·--·--· ---------·v ermiiye -------- --·--- ... F. & A . N Y., & Co 7 F. &A. do do 5 6 g. ........ Last paid, July, 1882. Aug:i°, ..i899 F eb . 1, 1922 -······· ""J'g . J. .&. J. New ·York 'city. Mai:.:. i909-10 6 g. A.& 0. N. Y., Mills Building. 1905-6 & 1 P 12 do do April 1, 1900 A. & 0. 5 South Pennsylvania.-This is the title of the company con,;1,ruct ing a railroad in .Pennsylvania in whichMr.W. H.Vanderbiltand bis associates were heavily interested. Tbeli ne was m progress between Harrisb, & Pittso., 225 miles. making 11, we~tern extension.of the Phila. & Reading system. The mortgage for $2••,000.000 was fl.led in l\fay, 1885. The parties to the origina.l syndicate aueement subscribed $15,000,000 in cash with which to acquire the $20,000,000 of t•ond>i and $20,000,000 of stock of the South Pt>nnsylvania Company. Soon after the syndicate was formed, in 1883, the Americ»n Coustructi, n Company was incorported in New Jersey. This corporation made an agreement with the South Pennsylvania RR. Company, l>y which it was to build anrl equip the hitter's road. In July. 1885. it was agreed tllat the Vanderbih inter est should be tran sfee1·l d to the P en n sylvauia Company, and tlla company offered to gi,e the South Pennsylvnnia subscribers $6,500.000 bonds of the B, dford & Bridg eport RR., guaranteed by the Penna. Railroad <.;o., he,tring 3 per cP-nt interei,t, in payment for the property. Other large parties joined w ith tbe V anderbil t interei::t and the negotiation was practic1-1llY.' complet ed, when the Attorney-General of.Pennsylvania brougltt a rn1t to enjoin the transfe r. Robt. H Sayre, Pres. Office. Harris ·,m·g . (Y. 39,p. ~09;V.40,p. 54~,626,731,764; V.41,p.77,103,134, 155,243, 273,307, 3 '17, 4·!1, 44,,) Southern Central (N. Y.)-Owns from Fairhaven, N.Y., to Pennsylvania State Lin e, 114 mileR. Leases the Ithaca Auburn & Westerni Freeville to Auburn, 38 miles; State Line to Sayre, 2 mites. Tota operated. 154 miles. Road forms an extension to Lake Onta rio for tne Lehigh Valley Railroad, in the interest of which company it is controlled. A r,· adjnstment of funded debt was made in J 882 on ti.le present basis. The new 5s are eonvertible into stock at option of holders within ten years, and $100,000 are h eld in trust to retire the prior bonds due in 189 9. Capital stock paid in is $1,790,574. Iu 1883-84, gross earnings were $484,3:29; n et, $170,867; m 1882-83, gross, $511,900; net, $230, 579. (V.40, p. 153.) Southern Maryland.-The Southern Maryland RR. was designed to extend from Point Lookout . at tbP- mot\th of the Potomac River, to Washingt11n. Interest was in d efault and W. W. Scott appointed rece iver. Fortclosure suit IJf'gun in May, I 88J, and decree made in Au., ust. 1885. -(V. 40. 617; V. 41, p. 273.) Southern Pacific CO.fU P ..\.NY. -This corporation w11s organized Aug. 14, 181::!4. under the laws of tne dtate of K entuc ky. It holds most of tne stock of I be Southern Pacific of California anct the other railroa·: s connecting with it to New Orleans, aud leases eacll of thofe roa·1s; also ha-. a lease of the Central Pacific for 99 years. The report of Leland Stanford, Prt-sident, in the CHRONICL~, V. 40, p. 506, had the following statement of t'1e total stock of each of the said con;i.panies owned by the Southern Pacific Uo., and the pel'Ceutage of" sur1 ,1us net, profits" of the whole syi;tem to be disti-ibuteti respectively to each Jessor: Name of corp1Jration. Stock ow, et. So. Pac. HR. Co. of California . ...... $43,364,050 So. Pac. RR. Co of Arizona . . . . . . . 19,!l90,000 So. Pac. RR. Co. of N ew Mexico.... 6,688,800 Mor. L . & 'l'l3xas RR. & SS. Uo...... 4,062,700 Gal. H:uris. & San Au. Ry. Co...... 25.8 l 2,000 Texas & N ew Orlea11s Ry. Co....... 3,984,000 Louisiana Western RR. Co.......... 2,r.88,000 Mexican International RR. Co ... ... 3,3J7,,00 '1 . '01ul stock P. c to of company. lessor. $44.039,100 19,9~5.000 6.888,800 5,1100,000 27.085,100 5,000,000 3,::160,000 4,922,100 2619 12 4 2~.lg 1614 7 ½1 313 .... Total.. •..••.... ... ... ..... .. $109,927,250 $116,290,100 Galv. Har. & San Ant., West. Di,·., 6s. l,lll•,000 Total stock and bonds .. .......... . . . $111,037,250 An article in the CHHONICLE, V. 41, p. 374, gave a statemen1- of operations for four months in detail. See V. 41, p. 722, forlatestearninµ-s. -(V. 40, 1'· 506, 5U9; V. 41, p. 23,134, 2, 6,373,490, 7:.::2.) Southern Pacific oC Arlzona.-This is the conuecting line of the South. Pacific of Cal., extending from Yuma to N. Mexico boundary, 384 miles. Tbt•. stock is $19,995,000. Operated under lease to Central Pao. till Nov. l. l 885, at $135 per mile per month. Rental for 1883. $635,355. Southern Pacific (oC CallCornla). (See Map.)-LINE OF ROAD.This road ana l'Onnections are well shown on the accompanyiug map. The road in California is in two divisions-the North. Div. from San Francisco., to Tres Pin0s, 10012 miles; Carnadero June. to Soledad, 6012 miles; ana leased line, Castroville June. to Monterey, 15 mil<',s; Santa Cruz RR., 25 m.; total in North. Div., 201 miles;-the Soutb. Div., Huron via Goshen to Colorado Riv., 529 miles; Los Angeles via Wilmington to San Pedro, 25 miles; total South. Div., 551 miles; total South. Pacific in Cal., 749 miles. At Goshen the Southern Div. meets the San Joaquin Branch of the Cent. Pac., by which it reaches San Fran01sco and the main line of Central Pacific. At Yuma, connects with its closdy affiliated lines extending to Galveston and N ew Orleans. ORGANIZATION, &c.-ThA Southern Pacific was a consolidation Oct. 12, 1870, of the Southern Pacific, chartered Dec. 2, 1865; the San Francisco & San Jose, Aug. l 8, 1860; Santa Clara & Pajaro Valley, Jan. 2, 1868, and California Southern, Jan. 22, 1870. Afterwards the Southern Paciflo Branch RR. (chartered Dec 23, 1872,) and the Los Angeles & San Pedro (chartered Feb. 1 8, ll:j6?,) were absorbed. The Central Pacilio RR. leased ti.le southern division, but in March, 1S85. this lease was annulled and the whole line was leased to the Southern Pacific Oompany. In August, 1884, Rold :<l42 miles of road on certain terms to the .A.. & P., extenillng from the western te1:minus of the A. ~ P ._to Mojave; and right of way over the lsalance of the line to San Franc1sco IS secured at a fixed rental. (See ' R - E 0 sta o O ii N • .-,.._ _____ ....L_ i/, ,z. ~:¢~0 Tuscarora '¾,<, ~ I I I I I revt ;hi i I '\ 'Zey ~ 0'\'.'\'.i MAP OF THE SOUTHERN PACIFIC RAILROAD AND CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ·, •, ♦ RAILROAD STOCKS AND BONDS. 84 (VOL. XLI. Subscribers -will conf"er a great Cavor by giving hnmedlate notice of any error discovered in these Tables. Bonds-Prine!INTEREST OR DIVIDENDS. DESCRIPTION. Wh~n Due, Miles Date Size, or Amount Rate p er Wllen Where Payable, and by pal, Stocks-Last Par Outstanding of For explanation of column headings, &c., see notes of Whom. Dividend. Cent. Payable Road. Bonds Value. on first page of tables. Southern Pacific of N. Mexico-Mort., coup. or reg .. - - - - - ---167 1881 $1,000 Bouthweste1·n ( 6a.J-Stock, guarant'd 7 per annum Bouthwest Pennsylvania-Stock ...... ............... 321 44 ~ten I>uyvil &PortM01'1'is-Stock ................ tate Line & Sullivan-1st M., conv. (red'ble aft.'88) /Jtaten Island-1st mortgage ......................... BtatenislandRapid Tran.-lstm.,$ or£, cp.orreg. 24 13 All. 1st mortgage. . . . . . . . . . . . . ..................... - ... 2d mor_M;age (for $2,000,000) int. guar ............ Sterling oiintain (N.Y.)-lst mort., income, r.-ar . Btockton & CfJpperopotis-lst mort., (guar. by . P.) JJummi t Brancli (Pa.)-Stock . . ............... . ...... 1st mo1jfla?.e bonds ................................ Bunbury az: eton & Wilkesban·e--lst mortgage .... 2d mortg1:1fe · ·:·.··································· · Sunbury R. ewislown-lst mortgage . ......... . .... Suspension Bridge & Erie Junction-Stock ...... ... . 1st mortgage ....................................... Byracuse Binghamton & N. Y.-Stock ............... 2d mortgage (now first) ............................ Consol. mortgage (guar. D. L. & W.) .............. Byracuse Geneva & Oorning-lst mortgage ...... .. . . ..6 ··134. 45 20 20 43 43 4312 23 23 81 81 81 57 :1§1~fa~:io &New. Yor;~Bonds:·_-_-_-_-_-_-_-::::: : ·43 B1lr!c~f 2d mortg., income .........................••....... Terre Haiile & Indianapolis-Stock .............. . ... Bonds or 1873 ...................................... Terre Haute & Loga.nsport.-Stock . ........ .......... 1st mortga,g-e, guru-. l?Y Terre Haute~ Ind'napolis 1st mortga~e, extension (2d on 93 miles) ..••...... Texas Centra -1st mortgage, gold ...... .. ... . ...... N. E. Div., mort.. gold (2d on 177 miles) .......... General mortga_ge, (pledged) ....................... il4 il6 93 65 177 52 228 $4,180,000 5,049,300 546,150 962,000 1877 1~000 989,000 ---200,000 18-77 100:&c. 1,000 300,000 1873 1,000,000 1,000 1883 {'I) 1,000 18851 1,000 475,674 1881 500,000 1875 500 &c. 4,125,000 50 is74 1,000 1.192,000 1,189,000 ...... 1878 1 ,350,000 1878 ·500 500,000 1876 500,000 1,000,000 i870 100 2,500,000 1875 1,000 270,000 1867 1,000 1 ,750,000 1876 . .... 928,300 1875 .... 600,000 1879 .. .. 900,000 1883 500,000 1883 1,988,150 i873 1,000 1,600,000 50 ..... 500,000 1 ,000 1879 500,000 1,000 1883 1,000,000 1,000 2,145,000 1879 1,000 1881 1,254,000 1,000 1884 2,280.000 ........ ..... 100 i",ooo ..rso terms of thi agreement in St. Louis & 8. F. report in CHRONICLE, V. 40, · STOCK AND BONDS.-The authorized stock is $90,000,000, of which $44,039,100 bas been issued and is held mostly by the So. Pacific Co. The bonds above are m series A, B, C, D, E and F, of which A included $15,000,000 and B, C, D and E each $5,000,000, and F $582,000. The series A, B, C and D mature in 1905-6, the series E and Fin 1912. Over $5}000,000 of these bonds are held in the Central Pacific sinking funds. The. bonds are .a mortgage on the lands, and as proceeds of lan~s come mto tbe han_ds _of the trustees, bonds are purchased and retired. There lS also a sinkmg fund of $100,000 per year. LAND GRANT.-The land grant was 12,840 acres per mile, and proceeds of sales go to pay bonds. The total grant is estimated to furnish 10,445,227 acres, but a large proportion of the lands is barren and useless for agricultural purposes without irrigation. In 1884 the sales were 354,556 acres ~o~ $969,678; total acres sold to Dec. 31, 1884, 1,043,160 for$3,976,643. OPERATIONS, FINANCES, &c.-The Southern Pacifl.o of California, with its connecting lines, forms a route from San Francisco to New Orleans. Owning the Morgan RR. and Steamship Co., this line bas a traffic from New York and other Atlantic cities direct to California. The annual report for 1884 'Yas published in the CHR9NICLE, V. 4.0, p. 596. Income a<:count was as follows: INCOME ACCOUNT. Receipts1882. 1883. 1884. Net earnings of Northern Div. $642,508 $623,642 $632,987 Rental of Southern Division.. 1,666,666 1,958,197 2,032, :343 Contract with Wells, F. & Co. l59,000 Other sources. - ---• - -• - • •• - -• •• • -- · • · · 43,6,1.5 · 2f),5.:36 Redempt'n of bds. (land sales). 595,000 300,000 *405,000 p, 594.) --- - - - -- 6 g. J. & J. N. Y., Company's Office 312 J. &D. Savannah,Cent.RR. Bk. M.& S. Phila. and Greensburg. F. & A. Philadel11hla Office. J. & J . New York. J. & J. N Y., Union Trust Co. A. &O. N . "\' ., S. I. Rap. T. Co. A. & O. N. Y. , Lond. & Glasgow. J. & J. New York. F'eb. do do J. & J. N . Y .. Central Pacific. F. &A. Frila ., 233 So. 4th St. J. & J. do do M.&N. Philadelpllia, P enn. RR. M. &N. do do J. &; J. ?hila., Guar. T. & D. Co 5 7 4 7 7 6 5 7 5 3 7 5 6 7 7 7 2 7 7 7 5 6 6 3 7 ..6. .&. .... . - .. . .. .... I .......... J. J . N. Y. Lake Erie &West. Q.-Mar N.Y.,D. L . &W.RR. Co. J . &D. do do A.. & o. do do M.&N. K.Y. ,F armers' L.& T.Co. J,\1. & s. . ......... F . .&..A. N.Y.,Fa:r:iriei·s·L.&T.Co. A.. & o. do do Jan. 1, 1911 D ec. 22, 1885 March, 1885 Feb., 1917 Jan ., 1886 Jan. 1, 1899 April 1, 1893 Jan. 1, 1913 July 1 , 1925 July 7. 1895 January,. 1905 F e b. 16, 1876 Jan. 1, 1904 May 1, 1928 May 1, 1938 July 1, 1896 Yearly. July 1, 1900 Dec. 1, 1885 June, 1887 Oct. 1, 1906 Nov . 15, 1905 Mar.1, 1909 1933 1983 Aug.1, 1885 1993 .&. ..ioici J. J N.Y.,Fa:r:iriei•i;ii,".&T.Co . 6 1913 7 g. M.·&·N Last paid "i{ov., '84. Nov.1, 1909 May 1, 1911 1g. M.&N Last paid Nov., '84. M.&:N. Last paid Nov., '84. Nov. 1, 193 4 Ifund stock of $500,000. The mortgage is for $1,000,00J, and has a sinkin!? from Jan. 1, 1HS8. J. l<'rauk Emmons, President, 56 Broaa.wa.y -(V. 41, p. 611, 653.) Sterling Mountain (N. Y. )-Road runs from Sterlington on the Erie Railway to Lakeville, 7·6 miles. Bonds guaranteed by Sterling Iron & Railway Co. Stock, $80,000. Earnings in 1883-84, $-!0,325 gross and $10,125 net. Stockton & Copperopolls.-Present company is a consolidation, made Nov. 17, 1877, of the l::ltockton & Copperopolis and the Stockton & Visalia. Line of road, Stockton to Milton and Peters to Oakdale,Cal., 49 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. The ~ompany previously made default July, 1874, and the $1,000,000 of old bonds were exchanged for the present issue guaranteed. Suminit B1.·anch (Pa.)-This company leases the Lykens VaNey RR., and it has a small branch of its own to Summit Mines, 3.1 of a mile. The road is operated by the Northern Central under contract. Traffic is almost exclusively coal. Gross receipts in 1884, includ. coal, $1,689,124; net, $324,014; int. and ad van., $218,911. Gross iu 1883, $1,535,399; net, $256,912; interest and advances, $150,921. (V. 40, p. 208.) Sunbury Hazleton & Wilkesba1.·re.-Sunbury to Tomhicken, Pa., 43 miles. Foreclosed March, 1878. Stock, $1,000,000. The Penn. Railroad has a large interest in it. J, N. Du Barry, President, Philadelphia. (V. 39, p . 522.) Sunbury & Lew-fstown.-Selinsgrove Junction to Lewistown, Pa., 43 miles. Leased to Pennsylvania RR. for contingent interest in net earnings. which in 18 2 w ere $120,065; in 188 3, $132,285; in 1884, $105,855. Stock, $600,000 and di v's of 6 per ct. a year have been paid. Suspension Bridge & El'ie Junctlon.-East Buffalo Junction $3,100,366 to Niagara Falls and Suspension Bridge, 23 1niles; Lock. & Buff. RR. leased, 14 miles; total operated, 37 miles. Road opened January, 1871. Interest on d ebt .............. . $1,712,435 $1,977,624 $1,862,340 [tis leased to New York Lake Erie & Western Railroad Co. at 30 per cent Sinking fund ............•...... 100,000 100,000 100,000 of gross receipts, whlch are guaranteed to be not less than $105,000 per Taxes and street assessments. 323,988 250,479 292,375 annum. Loss to lessees in 1883-84, $14,909. Lessees own all stock Miscellaneous ......• ..•......• 172,380 190,361 t 315,398 except 297 shares. Syrac.u se Binghamton & New- -;Yo1.·k. - Owns from Geddes, Total disbursements ....... $2,308,803 $2,518,464 $:l,570,113 N. Y. , to Binghampton, N. Y., 81 miles. Chartered as Syracuse & BingBalance for year. .............. $754,371 $407,020 $530,253 b.amtou and opened Oct. 23, 1854; foreclo ed and r eorganized April ~ addition to this $313,000 bonds more were redeemed by sinking \SO, 1857, and leased to Delaware Lackawanna & Western. In 1883-84 gross earnings, $808,93.Jc ; net, $3!4,285; interest, $141,400; divifund. t Includes $185,686 spent on renewals of ti-ack. (8 per cent), $200,000. In 1882-83, gross, $963,433; net, -(V. 39, p. 21,181,263, 349; V. 40, p. 29, 121, 208, 338, 479, 509, dends $454,023; int. $141,500; div. (9 p. c.), $225,000. (V. 39, p. 581.) 596; V. 41, p. 23, 24, 77, 89,134, 273.) Sy1.·acuse Geneva & Corning.-Owns from Corning, .N. Y., to Southern Pacific of" New Mexico.-Road extends from Ari N. Y .. 57 miles. This road was opened December 10, 1877, zona State LiJO.e to the Rio Grande at El Paso, Texas, 167 miles. Oper- Geneva, and leased· to the Fall Broolr Coal Co. at a rental of 331 3 per cent ated under le:?.se to Southern Pacific Company 1885, at $1,620 per mile of itsi w.·os earnings. Stock is $1,200,000. In 1882-83 ~ross earnings per annum. Stoek, $6,888,800. were $596,860; net, $281,439; rental, $198,953; balance to lessee, Soutl1:western (Ga.)-From Macon, Ga., to Eufaula, 144 miles; $82,485. In 1883-4, ~Toss, $678,370; net, $267,237; rental, $226,123; has 177 miles of branches, the main one being from Fort Valley to Col- miscellaneous, $65,070; loss to lessee, $23,856. umbus, 71 miles. A lease was made Aug. 1, 1869, to the Central RR. Ontal'io & New York.-Owns from Syracuse, N. Y., of Georgia " ·hich assumes the liabilitie and guarantees 7 per cent on toSyracuse Earlville, N. Y., 4312 miles. The Syracuse & Chenan~o Valley Ranthe stock, but 8 per cent is to be paid if 10 per cent is paid on Central road was sold in foreclosure and a new company orgamzed March 14, stock. In Ju;:e, 1881, $32 per share in 6 per cent debt certificates was 1873, under the name of Syracuse & Chenan"'o Railroad. April 15, declared by Central Georgia Railroad. 1877, road was again sold in foreclosure and reorgamzed as SyraSouthwest Pennsylvanla.-Greensburg, Pa., to Fairchance, Pa., cuse Chenango & New York, which also became embarrassed and passed 44 miles Opened April 1, 1873, and leased to Pennsylvania Railroad, into the hands of a receiver January, 187f1, and reorganized under which open· tes it at cost, paying net earnings as rental. In 1884 present name in 1883. The N. Y. West Shore & Buffalo has acquired gross earnin~_(l were $661,651 and net earnings, $259,885. Interest on control of the property. Stock, $404,600. Earnings in 1883-84, 0 -ross, bonds and 10 per cent on stock were paid out of net earnings of 1883 $98,361 ; deficiency after charging out interest account, $44,86~. In and 1884. 1 82-83 gross earning $86,139; deficiency after charging interest, Spuyten Duyvel & Port Morris.-Road is 6 miles in length and $53.990. connects the New York Central & Hudson with the New York & Harlem. Ter1.·e Haute & Indianapolls.-Owns from Indianapolis to Illi• Leased to New York Central November 1, 1871. Rental is 8 per cent on nois State Line. 80 m., with coal oranches, 37 m.; total, 117 m. The road capital stock of $989,000. Operations are included in lessee's returns. was opened in 1852 (as Terre Haute & Richmond). The companvleases State Line & Sullivan.-Owns from Monroeton, Pa. to Berenice, and operates the Terre Haute & Logansport RR., also the St. Louis Pa., 25 miles Originally organized as Sullivan.~ Erie Coai & Railroad Vandalia & Terre Haute Road on joint account with the Pittsb. Cm. & St. Co., whlcb was sold in foreclosure Oct. 14, 1874, and a new company Louis RR., at 30 per cent of gross earnings, but guarantees the first and formed D ecember 2, 1874, under the present name. Stock, $990,000. second mort. bonds. In 1882-83 gross earning-a, $1,297,690; net earn(par $50). The mortgage covers 5,000 acres coal lands. In May, 1884, ings, $!04,103. In 1883-4, ~ross earning , $1,127,388; net, $322,782; this road was leased to the P enn. & N. Y. Canal & RR. Co. for fifty years, total net income, $375,056; mterest and 8 per cent dividends, $271,052; at $36,000 per annum for three years and$40,000 afterwards. (V. 40, p. lo son T. H. & L. lease, $83,449; lol:ls on St. L. V. & T. H., $14,310; surplus for year, $6,245. (V. 40, p. 356 1 94.) Staten Island.-Local road on Staten Island, Clifton to TottenTerre Haute & Loganspo1.·t.-Owns from Logansport, Ind., ville, 13 miles. Road is operated in connection with Staten Island to Rockville, Ind., 94 mile ; leased, Rockville to Terre Haute, 22 miles. Ferry Company. Capital stock, $910,000, par $65 per share. In Oct., Tot1:1,l operated, 116 miles. Formerly Logansp. Crawfordsv. & Southw., 1883, leased to Staten Island Rapid Transit Co. One per cent dividend which was sold in foreclosure Sept. 10, 1879, and reorganized under paid quarterly, J anuary, April, June and October, on the stock. present name. Leased by Terre Haute & Indianapolis Railroad for 25 Staten Island Rapid Transit RR.-Tllis Co. was incorporated per cent of gross earni.J?.gs, and first mortgage bonds guaranteed by under the general law of New York State. Tho line of road is around that company. R ental m 1882-83, $78,478; 1oss to lessee, $141 208. the Staten Island sho1e, east and north sides, f1·om Vanderbilt Landing Rental, 18 3-84, $85,526; loss to lessee, $83,449. (junction with the 8. I. Railway) to a point opposite Elizabcthport, N. Texas Central.-Line of road from Ross, in McLennan Co., to J. It has a 99 years' lease of the S. I. Railway and controls the Ferries Albany, Texas, 177 miles; Garrett to Roberts, 52 miles; total, 229 to N. Y. City. Iu November, 1885, the agreement with Balt. & Ohio miles. Is controlled in Houston & Texas Central interests, by which was repol'ted for making the terminals of that RR. Co. at New Brighton company it is operated; but accounts are kept separate. The authorized by means of a bridge over the Kills at Elizabethport. The B. & o. stock is H,000,000; total issuect, $130,200, of which H. & T. C. holds guarantees the 2d mort. bonds of this Co., and owns a majority of its $50,000; Morgan Co., $75,000; directors, $5,300. Defaulted in interest Total receipts ..........•... $3,063,174. Disbursements- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $2,925,484 DECEMBER, RAILROAD STOOKS ~AND BONDS. 1885.] Subscribers will conCer a great Cavor by giving Immediate notice of" any error discovered In these Tables. DESCRIPTION. Miles Date s· INTEREST OR DIVIDENDS. Bonds-Prino11ze, or Amount - - - - - , - - - - - - - - - - - - - - - p a l , W h e n Due. For expl anation of column headings, &c., see notes of of Par Outstandinr.r Rate per When Where Payable, and by Stocks-Last on first page of tables. Road. Bonds Value. ° Cent. Payable Whom. Dividend. Texas-Mexican-Corpus Ch.S.D.&R.G., 1st M., gold. 1st m ortgage, gola ($15,000 p. m.) ...... _,........ Texas d: N. Orleans of '74-lst mortg. land gr., coup 161 165 105 Sabine Division, lat mortgage, gold............... 104 Debentures . . .. . .. . . .. . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . ... Texas & Pacific-Stock ..•...•...........•...•...••..•. 1,391 1st m ortgage, gold, coup. (E. Div.) . . . . . . . . . . . . . . . . 524 2d mort., consol., gold, coup. (E. Div.)............. 524 Income and landmort., E. Div .. reg..... . ......... 52! Bcripforint.onin<;i.mort.(red'mable inst'kor land) .... 1st m ort., gold, Rio Grande Division............. 521 New Orleans Pacific, lat mortgage................. 336 General and terminal mortgage ($6,500,000) ..... 1,487 Texas d: St. Louis in Mo.& Ark.-lst mort., gold..... . ... 2d mo~age, ,income .. ................. _........... .. . . Tex. & i::st. L. m 'rexas, 1st mortgage, gold ....... . 2 6 6 do 2d M., income bonus. 1st M. on land 190 do general 1st mort., gold............... . .. . general 1st M. land grant & income. . ••. do Texas Western (N. G.)-lst mort~age .... -... -. • • - - • • • . . _ 54 Tioga .RR.- lst mortgage, due li:s82 and extended . Consolidated mortgage ..................... ,...... 54 Extension bonds. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 Elmira State Line Railroad mortgage. ............ 7 Toledo Ann Arbor d: N. Mich.-lst (T. A. A. & G. T .) 61 1st mort-., gold, No. Div. (for $2,100,000).. .. . .. . 111 Toledo Oanaaa Southern d: Det?·oit-Stock...... .•... 55 Toleao Oincinnat1, d: St. Loitis-Stock .....••...•..•.. St. Louis Div 1st mort~age, gold .... .. ........... . do 2<'t mortgage, mcome, not cumulative .. Tol. Del. & B., 1st mort., Tol. to Kok . ....... . ..... . do 2d M., inc., non-cum., Tol. to Kok ... . do 1st mort .• Tol. terminal trust " A" ... . 1880 1881 1875 1882 1883 $1,000 1,000 1,000 1,000 100 is15 1:000 270 i88i 270-, 181 181 .... 1,000 1,000 1875 1875 1880-1 1880 1880 1884 1881 1881 1880 1880 1881 1881 1882 1852 1876 1875 1875 1881 1884 1881 1880 1880 1880 1:000 1,000 1,000 1,000 500 1,000 500 1,000 500 ··:so l,000 500 &c. 1,000 1 ,000 1,000 1885. The gross earnings in 1883 were $290,'262; net, $28,511. In 1884. gross, $283,637; net, $45,707. C. A. Whitney, Pres.,N. O. (V. 39, p. 436, .J4i:J,J Texas•lUexican.-Owns from Corpus Christi, Tex,, to Laredo on the Rio Grande, 165 miles. Charter covers 1,400 miles in all. Under same control as the Mexican National, and in November, 1883. a lease for 99 years was made to the Mexican National Company. W. J. Palmer, Pres't. Land grant was 16 sections per mile, but not located. Stock authorized $12,000,000. Texas & New Odeans (of" 18'74).-Houston, Tex. to Orange (Sabine River), 104 miles; and Sabine City to Rockland, 104 miles; total 208 miles. Belongs to the Huntington Southern Pacific system, together with the Louisiana Western. This was a reorganization, 1874, of the old Texas & New Orleans RR. The stock is $5,000,000, and a controlling interest is owned by the Southern Pacific. In addition to above bonds, there are $486,507 Texas School bonds. Gross earnings in 1884, $872,141, against $1,163,188 in 1883; net, $355,520, against $588,484. For eight months from Jan. 1 to Aug. 31, 1885, gross earnings were $631,271, against $541,596; n et, $276,253, against$ l95,946. C. P. Huntington, President, New York. (V. 39, p. 324,734; V. 40, p. 61,153,305,394,423,741; v. 41, p. 23,134,216, 357.) ' Texas & Pacific.-( See Map Missotlri Pacific.)-Eastern DivisionFrom Texarkana t o Marshall and thence to Fort Worth, 253 milts; Texarkana .function to Whitesboro, 239 miles; Marshall to Shreveport, 40 miles ; total eastern division, 332 miles. Rio Grancle Divisi.onFort Worth to Sierra Blanco, 524 miles; Sierra Blanco to El Paso(.ioint track), 92 miles; Gordon Branch to coal mines, 3 miles; total Rio Grande division, 619 m. New Orleans l.Jlvi8ion-(Formerly N. 0. Paci::tle RR.) Shreveport to N. O. and Batou Rouge Branch, 336 miles. Total of all, 1,487 miles. The Texas & Pacific was built under act ot Congress of March 3, 1871, and other acts in 1872 to'74, and the law of Texas. This company succeeded to the right of the Memphis El Paso & Pacific Railroad and other companies. By a contract made in J anuary, 1880 , with the Pacific Railway Improvement Company, the road was extended towards El Paso on the Rio Grande, to meet the Southern Pacific of California, with $25,000 in bonds and $25,000 in stock per mile of road. The Fidelity Insurance Trust & s. D. Co. of Philadelphia are Trustees of the Rio Grande Div. mortgage. A consolidation with New Orleans Pacific, a.hare for share, was voted in May, 1881. From the State ot Texas the company received 10,240 acres of land per mile, and 1Jy building east of Fort Worth earned4,931,702 acres, on which the income bonds were a lien, as also a 3d mortgage on the road east of Fort Worth. The total sales in 1884 were 544,984 acres at an average price of $3 07 per acre; total sales,includinglots, amounted to $1,677,563, of which $731,278 was paid in mcome bonds and scrip; lands yet unsold Dec. 31, 1884, 3,893,794 acres. The railroad lands in Texas, however, do not lie adjacent to the line of the roads owning them, but these are located in part inc ounties along the Rio Grande division, 1,030,611 acres being in Tom Green County, and 1,303,380 acres in El Paso County. On income bo11ds the companv may pay interest in scrip at its option, but if the option is not declared the interest must be paid in cash. Scrip was issued to holders of income bonds up to July, 1881, but not in .July, 1882 or 1 883. ln Oct., 1883, after action taken by bondholders to collect interest , the company gave notice that 14 per cent scrip would be issued for the two years to July, 1883. Some holders resisted and obtained a Judgment in the U.S. Circr.it Court for cash for those years. The company a p pealed to the U. S. Supreme Court. The inte:rest scrip is redeemable only in stock or in payment for land, and interest at 7 per cent is allowed on it onl;r when turned in in payment for land. In July, 1884 and 18 5 interes1, up to June 30 was paid promptly in scrip. In June, 188-'i, the earnings of the compauy were insufficient to meet Its i~tere~t~ ~wing largely to the disaste:s by floods on the New Orleans Paci:f:l.c D1v1s10n. The coupons due June 1, 1884, on the consol. bonds E: D., were b~ug-~t at par for the Missouri Pacific Railroad. On the Rio Grande D1VIS1on and the New Orlean s Pacific bonds one half of nine _coupons in succession is to be funded into geneeal 2d mortgage and termmal bonds, and the other half of each coupon paid in cash as It matures. _The c~mpons of the consol. Ill:or~. bonds E. Div. are to be paid, but_ deposited _with a Trust Co., and their hen preserved as against any ;~~~t by the mcome bondholders. See the terms of adjustment in v. 39, 1n In Dec., 1885, L.A. Sheldon and John C. Brown were apoointed receivers of the company on application of the Mo. Pacific RR. Co. See the committee's report, &c., in V 41, p. 714. The report for the year 1884 was in V. 40, p. 202, and had the following: INCOl\lE ACCOUNT. 1:,82. Gross earnings ....••••.......•.. $5,919, 7 32 Net earnings ..... .... _...... . ... $1,343, 292 Other income................... 346,511 1883. $7,045,652 $1,64.8,007 392,791 Total net receipts .......•. $1,689,803 $2,040,798 $913,0[;6 Interest on debt ................ $1,670,950 Taxes and other charges....... 137,333 $1,970,085 244,317 *$1,9 i0,190 287,152 Total deduct-ions .......... $1,808,283 Deficit .................... $118,-180 $2,214,402 $1?'3,604 $2,257,342 $1,'.-l44,286 Dedu ctions- 1884. $5,918,756 $783,932 129,124. * Full interest charge, but interest, was not all paid, partly .funded. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $960,000 2,500,000 1,620,000 2,075,000 584,000 32,164,600 3,784,000 9,316,000 8,251,000 2,311,498 13,028,00J 6,720,000 2,243,000 4,740,000 4,740,000 2,128,000 2,128,000 1,817,000 1,817,000 12,000 p. m. 239,500 1 25,000 2 65,000 1 60,000 1,260,000 800,000 1,547,662 15,000,000 2,924,000 2,706.000 1,250,000 1,250,000 250,000 ------- -----------1-------7 g. J. & J. .... ..•. .. July 1, 1910 6 g. 7 6 g. 6 ..6.g. 6 g. 7 7 6 g. ~ g. 6 g. 6 ~ g. J. F. M. J. & J July 1, 1921 & A N. Y., Company's Office. Au1t. 1. 1905 & S. & J. do do do do N:York Phila., &London Mar"citi. ·ci9o5 J. & D. do do June 1, 1905 July. NewYork&Philad'phia Jan. 1, 1915 M:&. s. F. ·& A. J. & J. A. & O. M. & S. March. J. & D. Paid lg cash, lg scrip. Paid 12 cash, ½ scrip. N.Y., Mercantile Tr. Co. Last paid Mar. 1883. Last paid June, 1883. June, 1883. ~ g. J ..&. D. Last paid M. & S. None ever paid. 6 F. & A. . ........ . M. & N. N.Y., Bk. or N. Amenca. 7 7 A . .&..O. :::::::::: 7 7 A. & 0. . ... .. ... . 6 g. J. & J . N.Y.,Farmers'L.&Tr.Co 6 g. M.& N. . ....... .. ..6.g. .J..&.. J. ' Last paid July 1, 18i,2 ..6. 6 6 March 1, 1912 1893 J .. &.J. Last paid"j-uiyi, 1882 .... . . . . ••• • • . J. & J. .......... Feb~· i, · 1930 July Oct. Oct. Oct. June June Aug. Aug. Feb. 1, 1, 1, 1, 1. 1, 1, 1, 1, 1920 1905 1911 1911 1910 1920 1921 1931 1922 Nov·.·1;·is96 Oct. 1, 1905 Oct. 1, 1895 Jan. 1, 1921 May 1, 1924. "'i92i· July Jan. J an. July 1, 1, 1, 1, 1921 1910 1910 1910 - (V. 39, p. 11, 84, 97. 129, 235, 325, 350. 382,402, 436, 494, 581, 607. 674; V. 40, p. 183. 241, 302, 570,742; V. 41, p. 190, 714.) Texas & St. Louis in ll.Iissouri and Arkansas.-Narrow , gauge road from Birds Point, Mo., opposite Cairo, Ill ., to Texarkana, Tex., 419 miles, and thence by the "Texas & St Louis RR. in Texas" to Gatesville, 304 miles; total, main line, 723 miles; branches, Paw Paw to N_ew Madrid, 6 miles; M:cN ell to Magnolia, 6 miles; total, 735 miles • Capital stock is $9,592,500 (par $100). which amount includes $3,945,000 deposited in trust to take up a like amount or the old stock of the Texas & St. Louis in Texas. T~e company issued $12,500 per mile in 1st mortirage bonds, $12,500 mcomes and $12,500 stock, and the 1n com es are a 1st mortgaze on the land grant and a 2d mortgage on the road. Land grant was 1.0,240 acres for each mile of finished road in Texas, but on ly about 1,000,000 acres are assured. The road was opened in 1883. In January, 1884, W.R. Woodward was appointed receiver on suits brought by the Central Trust Co. of New York as trustee of the mortgages, and receivers' certificates for about $640,000 have b een issued. A new plan of reorganization after sale was referred to at length in the CHRONICLE, V. 41, p. 273, by which the present holders of stocks and bonds will receive new securities in various proportions , and the old stockholder s will receive 25 per cent of their holdings in new stock trust certificates, which are issued by the reorg_auization committee, as they hold the right to vote and control the roan for five years. The road in Texas was sol d Dec. 1, 1885. for $1,700,000 to the bondholders, com mittee. The Mo. & Ark. Division is to-be sold on Feb. 22, 1886. (V. 39, p. 41, 494; v. 40, p. 454, 509,588,653, 717, 734; v. 41, p. 77, 103, 134, 243, 273, 357, 393, 421, 586, 654, 722.) Texas Western.-Proj ected from Houston, Tex., to Presidio Del Norte, Tex., 900 miles. In operation. Houston to Sealey, 52 miles, con... necting with Gulf Col. &S. Fe RR. Stock authorized, $3,000,000. Land grant 10,240 acres per mile. (V. -10, p. 562.) Tloga.-Owns from Arnot, Pa., to State line New York, 44 miles; branch, Blossburg, Pa., to Morris' Run, Pa., 4 miles; leased, Elmira State Line Railroad, State line New York to Northern Central Railway Junction, 7 miles; and Arnot & Pine Creek RR., Arnot to Hoytville, Pa., 12 miles; total, 67 miles. Controlled by N. Y. L. E. & W. The stock is $391,200 com. and $189,700 pref. In 1882-83, gross earnmgs, $524,171; net, $257,967; in 18S3-84 gross, $389.841; net, $142,021; interes t, $57,851; surplus over all payments, $65,286. Toledo Ann Arbor & North Michigan.-(See Map )-Owna from Toledo, 0., to Mt. Pleasant, Mich., 172 miles, which carries the road into the heart of the lumber region of Michigan. Capital stock is $2,700,000. The annual report for 1884 was in V. 40, p. 568. In July, 1884, the consolidated company (on the same mileage as the previous year) e~rned in the six months $58,187, and recei\7 ed from contract the earninga on northern division, making net receipt'! $61,738; interest charge. $49,800. .fames M. Ashley, President, 150 Broadway, N. Y. (V. 39, p. 98; V. 40, p. 568, 764.) Toledo Canada Southern &: Detrolt.-Toledo. Ohio, to Detroit (G.T. J1mction), Mich., 55 miles. Road opened September 1, 1873. Oper• ated by Canada Southern. The bonds were exchanged into Canada Southern first mortgage bonds at 70 per cent of face value. Toledo Cincinnati & St. Louis.-This is the consolidated · line (narro w gauge) of the Toledo Delphos & Burlin~n and Toledo Cin. & St. Louis. Owns from Toledo to St. Louis, Mo., 451. miles, The interest coupons due in 1883 and 1884 on the tirst mortgage bonds, in April, 1883, were partly funded into 6 per cent scrip due Oct., 1 91. In July, I 883, receivers were appointed, and the two divisions between St. Louis and Toledo are advertised to be sold in foreclosure D ec. 3 0, 188">. The old Frank.fo rt & Kokomo R. R. bonds, of about $100,000, inclllCting intere'lt, are a prior lien yet outstanding, and other chari:r~s make the tot a,l ahead of :first m ortgage bonds about $1,000.000, as esti mated by the receiver. The proposed plan of r eorganization (Quigley plan), in the CHRONICLE, V. 38, p. 480, embraces the followmg points : Tl.le organization of a new company autl the conversion of the narrow into a standard gauge track. A first mortgage will be made f ur $6,750,000 ($15,000 per mile), the bonds to run 40 years aad bear 6 per cent interest. rne second mortgage will be for $7,000,000, to run tlfty y ea.rs, aud bear mterest at 4 per cent from January 1, 1888, to January 1, 1893 and 6 per cent thereafter. The exchange for old stock and hond.8 to be made as there stated. In April. 1885, the Q.11igley- committee report ed that they had assents of $2,370,000 St. wuis Dlvision 1st mortgage bondholders and $1,158,000 of the Toledo Division firsts . The other plan for Toledo Cincinnati & St Louis bonds (Corbin plan) was in V. 38, p. 596. A.t Cincinnati, June 2d, 1884, by order of the Uniteu State, Circuit Court, four divisions of the Toledo Cincinnati & St. Louis narrowgauge system were sold to satisfy judgments. (V. -10, p. 61, 9-t, 15:-f. L81 241, 427, 454, ~09, _570, 588, 764: V. 41, p. 43, 76, 162, 190, 208 357, 474., 528, 5:>7, 6.J4, 68U.) 86 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD STOCKS AND BONDS. LVOL. XLI. DECEMBER, 1885. J RAILROAD STOCKS AND BONDS. S'7 Subscribers will conCer a great Cavor by giving Immediate notice oC any error discovered In these Table•• DESCRIPTION. INTEREST OR DIVIDE~ OS. Bonds-Prino1 Sii>~ror outir:~g- Rate per When Where Payable, and by P;}~~~~~~:• Road. ---· Bonds Value. ~ Whom. --· -----Cent. - -· Payable , Dividend. For explanation of column headings, &c., see notes ~es on first page of tables. Toledo cf:: Ohio Oentral-lst mort. gold, interest gua r Tonawanda Valley cf:: Ouba,-lst mort. ($500,000) .. Troy cf:: Boston-1st mort~age, consolidated ......... 196 60 35 53 64 D:r 1885 1881 1874 1878 ___ ,__________ ______ $1,000 1,000 1,000 1,000 $3,000,000 325,000 1,424.,000 New mortgage bonds (for $1,000,000) ............ 925,000 1,000,000 Tyrone cf:: Olea17f,eld-Stock. . . . . . . . . .......•......... ... 1~000 1st mortgage ....................................... 1,000,000 1,000 200,000 Ulster d: Delatv(!,re-lst mortgage .................... ·74 is15 2d mortgage mcome bonds ......................... 1875 100 &c. 1,400,000 100 21,240,400 United N. J . .RR. d: Oanal Oompanies-Stock .... ... 429 ··-1,000 1,824.,000 Gold bonds ...... .. .. - ..................... . ........ ·--- 1883 1,000 General mortg.,gold and currency, coup .......... 238 18'73 5,669,000 ..... 2,000,000 Unt tea Co.'s mortgage, sinkini fund, registered .. ...... 1871 1,846,000 do sterling loan mor gage, sinkina fund .... 1871 ..... 1,800,000 do do do do o ...... 1871 ...... 154.,000 do dollar loan, mortgage ................ 1871 do gold loan, reg . ........................ .... 1878 841,000 ..... Joint Co.'s plain bonds.. . . . . . . . . . . . . . . . . . . . ..... ...... 1854 866,000 5,000,000 do conaol. mort. (sink~ fund after 1880) ..... 1862 ---100,000 N. J. RR. & T. Co., 3n loan due tate of N. J .... . . 1868 ·ioo 60,863,500 ....... Unum Pacific-Stock ................................. 1,820 1st mortgage, gold, on road and equipment ....... 1,038 1866·9 1,000 27,229,000 2a mortgage currency (Government subsidy) .... 1,038 1866·9 1,000 27,236,512 ...... 14,621,000 3d do on road (2d on land), sinking fund .. 1,038 1874 3,360,000 Land grant bonds ....... .............. ............ 1867·9 1,000 £200 1,716,000 Omaha bridge bds, st'g, (a.f. about $65,000 yrly) . 1871 1,000 4,662,000 Collateral Trust bonds ............. ................ ..... 1879 1.000 3,719,000 Collateral trust oonds of 1883, gold .... .... ...... ..... 1888 1,000 15,927,005 Rans. Pac., cons. M .. ,g.(for $30,000,000) ,CJl.or rg. ---- 1879 1,000 2,240,000 do lat M., g, cp., on 140m. west M.o. Riv. 14.0 1865 ---- ---- ---- ---- To o & Ohio CentraJ.-Owns from Toledo, 0., to Corning, 184 mileP, nclulting 12 miles leased; Hadly Juuction to Columbus, 29 miles, including 5 miles leased; total operated, 213 miles. This company was formed after sale in foreclosure of the Ohio Central main line on April 15, 1885. The preferred stock i!'! $3,750,000 and common $1,600,000; the first mortgage is for $5,000,000, but no more than $3,000,0 ~·0 can be is ued except by consent of three.fourths of the present bondholders. The bonds have their interest guaranteed by the Columbus & Hocking: Valley RR. Co., and by an agreement with that company the stock of Col. & H. V. was offered i'l. excllan~e for three-fourths of the new stock of Tol. & 0. C., in the proportion of one share of C. & H. V. for one of T. & O. C. preferred, and one share of C. & H. V. for two shares of T. & O. C. common; the remaining one fourth of T. & 0. C. stock, together with all that acquired by C. & H. V. by the exchange, were to be deposited with tmstees. This placed the control of T. & O. C. with the C. & H. V. Company. (See agreement in V. 40, p. 597. The gross earnings of Ohio Central main line in 1884 were $1,076,917; net, $183,456. (V. 41, p . 243, 4.38.) Tona-wanda Valley & Ouba.-Owns from Attica, N. Y. to Cuba, N. Y., 60 miles. Stock$587,100. Securities listed at New York Stock Exchange December, 1882. $113,00u of 1st mort. bonds are reserved to redeem same amount of 6 per cent bond'l due 1910. Mr. Bird W. Spencer was appointed receiver in 1885. Gross earnings in 1883-84, $50,332; deficit, $42,255. R. G. Taylor, Buffalo, N . Y., Pres. (V. 39, p. 655; V. 40, p. 543; V. 41, p. 474.) Troy & Boston.-Owns from Troy, N. Y., to Vermont State line, 35 miles; leased: Southern Vermont 5 miles; Troy & Benrungton, 5 miles; Vermont State line to North Adams, 6 miles; total operated, 53 miles. The 1 st consol. bonds are used to redeem 1st and 2d morts., and 2d consols . toredeemfioating debt. $119,000 of other issues of bonds outstanding Sept., 1884.. Stock, $1,623,110. In 1883-4 deficiency over all charges was $27,008. Earnings for three years past were: Passenger Frei~ht (ton) Gross Net Years. Miles. Mileage. Mileage. Earnings. Earnings· 1881-82 .....••. 53 7,315,713 24,979,268 $523,547 $213,766 1882-83 .. .. . ... 53 7,313,014 25,965,501 56~,820 205,323 1883-84 . . . . . . . . 53 6,544,500 16,733,352 483,561 192,539 -(V. 39, p. 202: V . ..U, p. 586.) Tyrone & Clearfield.-East Tyrone Pa., to Curwensville, Pa., 44 miles; branches, 20 miles ; total, 64 miles. This company was organized April 1, 1867, after sale in foreclosure. It was leased to the Pennsyl• vania Railroad in 1878 and new lease for 50 years made ln 1382. J. N. Du Barry, President, Philadelphia, Pa. Ul ter & Delaware.-Owns from Rondout (Hudson River), N. Y, to Stamford, N. Y., 74 miles. This was the Rondout & 0Rwngo in 187ft; reorganized May 28, 1872, as New Yorlr Kingston & Syracuse, and again after foreclosure, May 1, 1875, as Ulster & Delaware. The stock is $1,152,100. Ther·e are also $50,000 real estate mor tg. bonds. In 188384 the gross earnings were $316.884; net earnings $80,404.. Thomas Cornell !S rrer1!dent, Rondout, N. Y. United New- .Tersey Railroad & Oanal Co.-LINES OF ROAD.New York to Philadelphia and branches, 135 miles; Camden to Amboy and branches, 2'.?6 miles; Trenton to Manunka Chunk and branches, 81 miles; total operated, 443 miles. Delaware & Raritan Canal, 66 miles. This company was formed by a consolidation in 1867 of the Delaware & Raritan Canal Company, the Camden & Amboy R a ilroad, and the New Jersey Railroad & Transportation Company. The United New Jersey Railroad & Canal Companies were leased in May, 1871, to the Penn• sylvania Railroad for 999 years, at a rental of 10 per cent on the stock, oesides interest on bonds. The smaller leased roads were taken with their several contracts. '.rhe lease has not been directly profitable in cash receipts to the Pennsylvama Railroad, and the net loss in 1879 was $939,889; in 1880, $1,035,308; in 1881, $302,864; in 1882, :¥568,759; in 1883, $635,914; but the connection with New York was indis;pensable. Operations and earnings for five years past (including the ,canal) were as followe: Pa seng-er FJ:'~~t (t'ns) Gross Net Div., Years. Miles. Milea.ie. .Mileage. Earnings. Earnings. p. ct. 1881. .. . ... 197,366,974 480,995,398 $13,022,864 $1,211,fiQO 10 1882 ... 429 227,938,390 521,869,010 14,231,458 4,062,363 10 1883 ... 435 238,561,4.31 542,827,918 14,S56,596 4..151,682 10 1884 ... 443 248 ,789,706 552,423,171 14.,709,887 3,960,043 10 Union Pacific Kail-way.-(See .Map.)-LINES OF Ro,rn.-Main line-Council BL1ffs to Ogden and branches, 1,049 miles; other ;b ranch es-Kansas City to Denver. 643; Denver to Cheyenne, 106; Leavenworth to Lawrence, 34; total owned, 1,832 miles; controlled and operated in the Union Pacfic system January, 1885-0maha & Repub. Valley RR., 237 miles; OmahaN. & Black Hills RR., 114; Colorado Central RR., 3~7; Echo & Park City RR., 32; Utah & Northern RR., 462 ; Lawrence & Emporia RR., 31; Junction City & :F t. Kearney. 87; Solomon RR., 57; Salina & Southw'n, 36; Kan. Oen., 167; Den. & Boulder Valley., 27; Golden Boulder & Car., 6; Ore.e;on Short Linc and branch, 610; Greeley Salt Lake & Pacific, 54; D enver· Sou.th Park & Pamfic. 321; Salt Lake & Western, 57; Georgetown Breckenridge & LeaclvHle. 8 miles; Montana Railway, 9 miles; tot.al thus controlled, 2,644 miles; tota.l oper• ated in the U. P. system J an. 1, 1885. 4,4.76 miles. The Central Br~ch ynio~ Pacific and leased line~th(38U8n _nnn·1ePsa)caifirec operated by the Miasolll'l Pamfic under an agreement 10 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis gg. 7 7 2¼ 5 7 7 2¼ 4. g. 6 g. 6 !!• 6 6 g. 6 6 6 ll!i 6 g. 6 8 7 ~ g. 5 6 g. 6 g. i J. & J. N. Y., Nat. B'k of Com. do d.O Phila., 233 South 4th. July 1, 1935 Sept. l, 1932 1924 1903 June,1885 Rondout·, .. Co."•a· Office. New York. Phila. and N. Y. Offices. Philadelphia Office. M.& s. do do A.. & o. Phila., Pennsylv'a RR. M.& S. London. M.& 8 . do F. &A. Phila., Penn. RR. Office. M.& S. do J. & D. Princeton, N. J . M.&N. Philadelphia Offlc9. A.. & o. N. Y., B'kof Commerce. Q.-J. New York and Boston . J. & J. do do J. & J. U .S. Treas., atmat1!'1.rity. M.& S. New York and Boston . A.. & 0. do do A.. & o. London & New York. J. & J. N. Y., Union Trust Co . J. &D . Boston, N. Engl'd Tr.Co. M.&N. N. Y .. 40 Wall Street. F. &A. do do Juiy: "i901> July 1, 1905 Jan. 6, 1885 Feb. 1, 1923 Mch. 1, 1901. Oct. 1, 1894. Mch. 1, 1894. Mch. 1, 1894. Feb. 1, 1888 Sept. 1, 1908 Jan. 1, 1889 Nov. 1, 1889 Overdue. April 1, 1884. 1896 to 1899 1896 to 1899 Sept. 1, 1893 1887-'89 April, 1896 July 1, 1908 Dec. 1, 1907 May 1, 1919 Aug. 1, 1895 M.& s. J. & J. A.. & o. J. &D. J. & J. J. & J. F. &A. Q.-J. F. &A. ~~:~?~~~/Jiii~~~· ·i; for twenty-fl ve years from 1835, and not included in the mileage operated by Union Pacific. The U. P. also ha large inter ests in the St. Jos. & West. RR., 251 miles; the Utah Central. 280 m.; Leavenworth Topeka, & S. W., 47 m.; Manhattan Alma & Burlingame, 56 m.; Manhattan & Blue Valley, 11 m. and Nevada Central, 93 m.; total, 738 miles, all ot which are operated separately. ORGJ,.NIZATION, &c.-This company, the Union Pacific Railway, was formed by a consolidation, Jan. 24, 1880, of the Union Pacific RR. and the Kansas Pac. and Denver Pac., made under authority of the acts o:f Congress of July 1, 1862 and July 2, 1864. The Union Pac. RR. waschartered by A.ct of CJngress of July 1 , 1862, which gave the company a land grant of 12,800 acres per mile, esti~ated at a total of 12,083,227 acres, and a l!ubsidy in U. S.bonds of $27,236.512 on 1,033 miles of road. T he Kansas Pacific was organized as "Leavenworth Pawnee & West ern·• 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 Denver Pacific-Denver to Cheyenne, l0 o miles-was built under the charter of the Union Pacific, E. D. (Kansas Pacific). As t o the debt of the Pacific railroads to the United States Government a d ecision of the U. S. Supreme Court settled the point that the payment of interest on the loans was not obligatory on the companies till the principal of the bonds became due. Afterwards Congress passecl. the Thurman Act, May 7, 1878, which, for the Union Pacific, provided that 25 per cent of the net earninis, after deductmg interest on thefirst mortgage bonds, should be paia. annually to the Government as follows : First-Applied directly to interest account, one·half of Government earning-s and 5 per cent of net earnings, after deducting interest on :first mort"'age bonds. Second-To be placed in the sinking fundthe other half of t1l.e Government earnings and so much of $850,000 as may b e necessary to make all the payments by the company equal 25 per cent of its net earnings. STOCK AND BONDS.-The capital stock issued and outstanding is $60,868,500, having been increased about $10,000,000 since the conso11dation in 1880. Dividends since 1879 have been as follows: in 1880, 6 per cent; in 1881, 634; in 1882, 7; in 1883, 7; in 188-1, 312. The yearly range in prices of the stock has been-In 1880, 801»113%; in 1881, 105¼1»131:\i; in 1882, 98141»11934; in 1883, 701s1.vl04.l!i; la 1884, 281»84.58: in 1885 to Dec. 18, 41 '1i6234. By act of Congress of July 2, 1864c, the Government loau was made a second lien and the company's first mortgage bonds to the same amount> were made a first lien on the roads. The Union Pacific land bonds a.re retired rapidly with proceeds of land sales. Of the Union Pacific collateral trust bonds, the first issue wns limited t,o 80 per cent of the following bonds: Omaha & Repablican Valley RR., $850,000; Celorado Central Railroad bonds, $2,526,000; Utah Northern Railroan, aoout $3,480,000; total, $6,856,000. The collateral trust bonds of 1883 are secured by the following bonds: Colorado Central RR.. $2.4.4.6,000; Utah & Northern RR. $2,353,000; Omaha & Rep. Valley RR. $419,000; Utah Southern RR. extension $975,000: Denver South Park & Pacific RR. $1,544,000; Kansas Central RR. $1,162,000 ; total $8,899,000. The outstandin!? bonds of Kansas Pacific above are given less the amounts of each class held by the trustees of the general mort. The consol. mortg. trustees are Jay Gould and Russell Sage, and they held in trust, on Jan. 1, 1885, the following bonds or the Kansas Pacific, making $6,583,950 in all, viz.: Leavenworth Branch, $568,000; income Cun.subordinated) bonds. $215,350; income (subordinated) bonds, $3,751.600; Cheyenne Branch Den. Pac. bonds, $2,051,000. They also held $1.892,700 of the stocks and $3,158,000 of the bonds of othtir companies controlled by the Union Pacific. LAND GR.A.NT.-The proceeds of land sales on the Unioµ. Pacific main line are applicable to the pt·incipal ot the land grant bouds, and after that to the sinkin~ fund mortgage 8 per cent bonds. On the Kansas. Pacific the cash income from land was applied to the interest on the general mortgage bonds, but in I 88 -5 towards principal. To December 31. 18 4. the company had, either in cash or contracts. the sum of $12,549,449, being $9,189,4.49 in excess of what was needed to discharge at maturity the balance of the original land grant bonds. The sales in 1883 and 1884. were as follows: 1883. Union Pacific1884. 805,83:J Acres sold (net) .. .. . ·-···-··················· 4,321,0t3 $2,436,767 Amount (net) . .............•• ...... .. ..... ... $6,517,773 $3 11 Average price . ........... . ................... $1 52 Kan. Paciil.c218,185 Acres sold (net)........................... ... 452.566 $965J557 Amount (net) . ....... .... ···· ·· ·· ·····- ······ $1,917.876 $4 41.~ A.vem~e price................................ $4. 21¼ Total1,024,018 Acres solci .... ---· ·····--••O ................ 4,773 ,609 $3,402,324. Amo nnt .••. ··-······· ··· .... ·-· .............. $8,435,ti49 The Kansas Pacific lands, from the 380th mile westward, are covered flr,-t bytheDenver Division mortgage, and all the lauds of the Kan. Pae by the consol. mortgao-e. Tb e large amount of s>1.les dnring 1884 was owing ~o the i;ale by the Uuion Pacific land d epartment of large tracts of grazmg lands at a lO"f price per ac re. Land sales for ten months m 1885 and 18S4 were as follows: https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 00 (I:) A D l UJ H 0 ·-·--•--.., e L. C ~ UJ i i jLe td 0 ~ ~ i D rn Aj FRIS Pioobe ) • MAP 0 .F THE UNION PACIFIC RAILWAY. DECEMBER, RAILROAD STOCKS AND BONDS. 1885.] 89 Subscribers will c onf'er a great favor by giving immediate notice oC any error di~covered in these Tables, Bonds-Prinol INTEREST OR DIVIDENDS. DESCRIPTION. Miles Date Size, or pal,When Due. Amount For explanation of column headings, &c., see notes of of Par Outstanding Rate per When Where P-Mi_able, and by Stocks-IAst Road. Bonds. Value. on first page of tables. Cent. Payable om. Dividend. --- - - - - - - Union Pacific-(Oontinued)- · Kansas Pac., 1st mort., gold, :!.40th to 393d mile. do 2d M.(to U.S.Gov.) on 394m.W. Mo.R. do lst,394th to 639th m., Lg .• 3,000,000 acs do 1st mort., coup., (Leavenwortll Br.) .. do Income bds, coup., 3d M.on 427 miles Utah Oentml-Stock .................................. h\ta~~~!t~~ii~~~erai ino1=tii." ci;i:· 253 394 245 34 427 280 36¼ 105 138 37 462 180 $i.,ii5o:ooo>:: Utah South. Exten., 1st .M:., Juab to Frisco . ...... Utah & Nevada-Stock .. .. .. ........... .... .......•. Ut.ah & Northern.-lst mortgage ......... . .......• .. Utica cf: Black Rivet·-Stock.. .. .. .. . ..... . ......... 87 Mortgage bonds. . . . . . . . . .......................•.. Black River & Morristown, 1st mortgage ......... Claregn & Theresa, ~st mortgage, guaranteed .... Og ensburg & MorrIStown, 1st mortgage ......... 1866 $1,000 1865-7 1869 1:000 1,000 1866 1866 50&c. 100 ---1870 1,000 1,000 1879 1,000 1879 .... 1878 .... 1871 1874 ... . 1,000 100 .... 500 &c. 36 16 ---1:000 10 1883 100 98 31 '66_;72 500 &c. 12 ...... Utica Ohenango & Susquehanna Valley_.:Stock .. ... Utica Olinton cf: Bingharnton-lst mortgage ....... Valtey (N. Y.J-Stock ................................ ...... ...... 1st mortgage .......•. .......•.... ....• ..... . ....... Valley (Ohio)--lst mortgag-e ........................ Consol. mortgage gold ( for $3,300,000) .........•. 'Valley (Va.)-lst mortgage ............. .. ........... ff3 f t.rnrant,eed by Fitchburg RR.) ... Vermont & Massachusetts-Stock ...... ......... ..... Bonds of 1883 ---- --- 59 ---·. ..... 'Vermont Valley o 1871-Stock ..................... 24 1st mortgage ..........••...•.............•......... issi ---- ....... 1:000 1,000 100 isso 1,000 1879 188.1 1881 ..... ....... rna3 ~--1884.-----,.----1885.-~---Acres. Proceeds. Acres. Procee9-~Union Division ........ 4,162,146 $6,346,988 620, 27 $l,OSH,o49 Kansas Division ...... 374,710 1,641,649 609, 333 2,449,461 _____ _ ___ ----- ----Total.. •.......•.. .4,536,856 $7,988,637 1,230,160 $3,53!,010 OPERATIONS, FINANCES, &c.-The Union Pacific has made larue earn· ings and until 1883 and 1884 operated its road at a low percen'tage of expenses. The competition and reduction of rates by building of new lines was the main cause for the decline in earnings. The company has •extended rapidly and built and acquired much new mileage, of which the Utah Northern and Oregon Short Line are two of the most import- I $4',063,000 6,303,000 6,279,000 32,000 260,050 4,225,000 1,000,000 1,950,000 1,950,000 555,860 5,543,000 2,047,000 1,107.000 500,000 200,000 143,000 4,000.000 790,000 750,000 400,000 1,600,000 863,000 750,000 3,050,000 1,000,000 1,000,000 800,000 ~ g. J. &D. New York, 40 Wall St. 6 g. M:_-&·N. N. Y., L·on.d. & Frankf't. M.&N. New York, 40 Wall St. 7 M.& S. N. Y., Bk. of Commerce 7 1 Q.· -J. New York, 40 Wall St. 6 g. J. & J. do do do do J . & J. 7 do do 7 J. & J. ,T. . &.J. New York; Wall St. 3 M.& s. Utica. J. & J. N.Y., Nat.Bk.of Com'ce. 7 J. & J. do do 7 7 J. & J. Utica & N. Y.Bk.of Com. Utica. 5 J. & J. 3 M.&N. N. Y., D. L. & W. RR. 6&7 ,J. & J. N. Y., Cont. Nat. Bank. N. Y., D. L. &W. 5 .... do do 5 J. 7 M.& 8. 6 A. & O. Balt. and New York. 6 Boston, Office. A. & 0. 3 M.&N. Boston. Fitchburg RR. 5 3 B ellows Falls. A.·&··o . Bost., SafeDep. & Tr.Co 5 0 0 • ··,r io ·&::n. New.York. 183i,:,. Disbursements- $ June 1, 1896 1895 to'97 May 1, 1899 Jan 1, 1896 July 1, 1916 Oct., 1884. Jan. 1, 1890 July 1, 1909 July 1, 1909 Juiy·1;·i908 Sept. 30, 1884 Jan • 1, 1891 Jan. 1, 1894 July 1, 1898 Jan. 1, 1891 Nov. 1, 1885 1886 & 1890 Durinf 1885 Aug. , 1911 1906 Sept. 1,1921 Oct. 1, 1921 Oct. 7,1885 May 1, 1903 July 1, 1885 Oct. 1, 1910 1883. $ 188-!. $ Interest on debt ............. . Oiscount, int'st, and exchange Dividends .................... . Rare per cent. of dividend ... . Sinking funds.• - •; - - • · -.· • · - • • • D1;1e U.S. on years busmess .. Miscellaneous . - - ..•......••. 5,231,479 172,722 4,260,788 7 442,000 2,097,190 18,923 5,312,011 139,630 4,260,783 7 476,48~ 1, 69,958 155,858 5,397,071 3'36,077 1,065,197 1 34 591,540 1,187,110 84,837 Total disbursements...... Balance, surplus -... --.••.. - - . 12,226,102 2,340,107 12,214,734 1,133,326 8,691,832 2,639,342 ::t:~ 4il,- 4ii: fs2t!95~15o8i'5it5~9.302~~46?l,3 '.7n~v.~1.3i.0:irib,3lit The claim of the GovernmPnt for arrearages was decided in January, 1885 to be about $967,466, and was paid in full in April. In the CHROl'HCLE of D ec. 19 (V. 41, p. 722) is Mr. Adams' report for the :first nine months of 1885, compared with the same time in 1884. This report shows the following results: First 9 First; 9 months, 1885. months, 1884. · Earnings ..............•.......•.......•... $18,378,778 $18,274,254 Expensas........ .••.. .... .. . . . . .. . . .. .. . .. 11,205,5!0 10,537,725 Taxes.. .......................... . ......... 678,543 640,241 Surplus earnings entire system........... 6,494,641 7,096,288 Income from inve tments . . . . . . . . . . . . . . . . 523,055 196,166 Proceeds miscellaneous land sales....... 7,908 6,232 Utah Central-(See map Un. Pacific)-From Ogden, Utah, to Frisco~ 280 miles. A consolidation July 1, 1831, of the Utah Central, Utah Southern and Utah Southern Extension. Stock is $4.,225,000 and 2 per cent paid in 1834. In 1882 gross receipts $1,531,486; net. $897,949. In 1883, gross, $1,174,737; net, $756.212. In 1884 gross earnings were $1,038,938 ; net, $478,333. For four months from Jan. 1. 1885, g_ross earnin&~ were $236,527, against. $303,174; net, $88,955, against $99,760. t v. 39, p. 350; V. 40, p. 28 t.) Utah & Nevada.-Owns from Salt Lake City, U. T., to Terminus U. T., 37 miles. The Utah Western made default January 1, 1878, and. the road was held oy trustees for the bondholders. and was foreclosed Nov. 3, 1880, and this company organized. Gross earnings in 1884, $37,125; net, $11,500. Sidney Dillon, President, New York City. Utah & Northern-(8ee map Union Pacific)-From Ogden, Utah, to Garrison, and the line of Northern Pacific, with branch es to Butte City and Anaconda Mines ; total, 466 miles. This road forms a conneotion between the Northern Pacific atGarrisons, Montana, and the Union Pacific at Ogden. Stock $5,543,000, and 6 per cent dividend paid in 1884. The road was built by Union Pacific, which owns $4,816,400 stock and $4,968,000 bonds. For the year 1883, gross earnings, $1,969,207; net, $778,681; in 1884, gross, $1,998,577; net, $884',947; interest, dividends, &c., $734,311 ; surplus. $150,636. Utica & Black Kiver.-Owns from Utica, N. Y., to Philadelphia, N. Y., 87 miles; leased lines to Morristown, N. Y., to Ogdensburg, to Sackett's Harbor and to Clayton, 93 miles in all; total operated, 180 miles. The company has paid· ite rentals and moderate dividends for a number of years. The income account for the year ending September 30, 1884, showed a deficit of $50,527 over all payments, including 6 per cent dividends. The surplus of the company is chie:ffy reJ?resented by advances to leased lllles. The Ogdensburg extension is domg well, and promises to be a good investiment. Operations and earrungs for three years past were as follows: Passenger Fr_ej~ht (ton, Gross Net Div. Years Miles. Mileage. 1YJ.ileage. Earnina-s. Earnings. p. ct. 1881-82 ... 180 8.599,023 15,224,870 $766,!63 $323,011 5 285,410 7 1882-83 ... 180 9,449,809 20,425,186 827,407 232,372 6 1883-84 ... 180 10,258,386 31,733,099 830,885 it~~ ~J:~f~~ ~:~t~:!~~eti- ~~!~ t~~it~c8;:go~ !?a:s: ~e;iis1!i,~t opened throur h to a connection with Oregon till Novem- ---- Total income.......................... $7,025,604 $7,298,686 The net result, after deductiu~ all charges and the amount due U. S Government, was a surplus of $516,719 for the nine months in 1885 against; a surplus of $1,088,667 in 1884. The 30th of June, 1885, closed the first entire year since the chan~e of manage ent of June 18, 1884, took place. The following is a condensed statement of the financial results of that year, exclusive of the St. Joseph & Western: Income. ~ Year ending June 30, 1385.- :~~i~~ ·.·.·.·:.·.·_-.·.·_·_-_-.-.·_-_-.-_-.-.-.-.-::.·.·:.·.·::.·.·_-_-.·_·_-_-_-$i4,3·04;6;76 $25,888,003 Taxes....................... .•....•. . .... .•...•.. 879,189-15,183,865 Burplus earnings, entire system .............................. $10,704, 138 Income from investments outside of the system............. 643,010 Proceeds from miscellaneous land sales..................... 8,428 Received from trustees Kansas Pacific consol. mort ..•..•.. *:::52,255 ----Total income ..•.......•...............•...•......•....•... $11.680,832 Total expenditures.......... ..... ................... .. .... 7,579,923 8 urplus .. ..... ...•...... ···· ····•··· · ····•··•·····•·••····· Less Uruted States requirements............................ _$___9__ 4 ,lOO, o9 1,134,395 Net surplus income......... ...................... .. ... ... $2,966,514 ~come from investments held in the Kansas Pac. consolidated trust. The net surplus income represented 4·87 per cent on the capital stock. Grot1s earnings for ten months from Jan. 1 to Oct. 31 in 1885, $21,147,405, against $20,923,466 in 1884; net, $7,818,624, against $8,497,293. The annual r eport for 1884, in V. 40, p. 391, gave the earnings below, which cover only the main road in each year: FISCAL RESULTS. 1884. 1882. 1883. 1,832 1,821 Miles operated ..•.......•..••. 1,821 Earnings- $ $ * 4,545,348 113,768 12,596,5-84 342,957 1,328,751 2,075,134 4,110,3!0 102,257 11,075,841 236,867 347,602 2,098,063 21,002,542 10,354,541 17,970,970 9,100,086 12,096,835 10,648,001 49·30 Per ct. of op. exp. to earnings 47·00 INCOME ACCOUNT.,. 1882. 1883. 8 ,870,884 50·6t Passenger-Cash .••.... .....•. Government ................ . Freight-Cash ...... ....••..... Government ................ . Company .............. . ... . Mail, express, &c ............ . 5,054,344 143,386 13,543,841 361,648 1,496,678 2,223,987 Total gross earnings ..... . Total op. exp. (incl'd'g taxes). 22,823,884 10,727,049 Net earnings............ . . . . . . ---- ----- Net earnings ..•.........•..••• 12,096,835 2,211,099 258,275 10,648,001 2,066,682 616,700 16,677 1884. $ 8,870,884 1,736,915 649,415 73,930 Total income... ........... 14,566,209 13,348,060 11,331,174 Receipts- Interest and dividends ..•..... Int. repaid by Kan. Pac. trust. Miscellaneous ..• . ......•..••. $ $ * The mcome account was slightly changed in form for 1884, mainly lby placing on both sides of the account the interest received from Kan• .sas Pacific truet. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 162, 188 , 190,203,274,307, 393 1 474,528,557,586,689, 722.) Utica Chenango & Susquehanna Valley.-Owns from Utica, N. Y., to Greene, N. Y., 76 miles; branch to Richfield Springs, 22 miles; total, 98 miles. Road opened October, 1872. Leased to Del. Lack. & Western at 6 per cent on stock. Has no bonded debt. (V. 38, p. 705.) Utica Clinton & Bingharnton.-Owns from Utica, N.Y., to Randallville, N. Y., 31 miles, and leases Rome & Clinton Railroad, 13 miles. Total, 44 miles. Opened June 22, 1872, and leased to New York & Oswego Midland Railroad. The lease was transferred to the Delaware & Hudson Canal Co., which pays the rental of $70,500 peir annum for U. CL & B. and $25,500 for Rome & Clinton. The road was operated by the Del. Lack. & West. till April 1, 1883. Gross earnings in 1882-83, $199,600; net. $94,030. Gross in 1883-4, $214,371; net $99,4.68. Capital stock, $636,285. lsaac Maynard, Pres., Utica, N. Y Valley (N. Y .) Kallroad.-Owns from Binghamton, N. Y., to State line of Pennsylvania. 12 miles. Opened October, 1871. Leased to Delaware Lackawanna & Western at 8 per cent per annum on stock1 which was reduced in 1882 to 5 per cent, the lessee assuming the interen on bonds. Samuel Sloan, Presidfmt, New York City. (V. 38, p.705.) Valley (Ohio).-Owns from Cleveland, O., to Wheeling Junction, O., 76 miles, and 912 miles of small branches. The temporary debt and car trust amount to $663,541. Earnino-s in 1884, $542,361; net, $226,275; deficit over interest, &c., $12,482. Stock, $1,042,302. (V. 41, p. 557.) Valley (Va.) -Owns from Harrisonburg to Salem, Va., 113 mile& In 1883 it waf! extended from Staunton to Lexington, 36 miles. By this and connecting lines under B. & O. control, the distance from Lexington is 243 miles to Baltimore and 217 miles to WashinRton. The Baltimore & Ohio has a large interest in its securities. In 1883-84, grossr $110,400; net, $34,337. In 1884-5 gross, $118,953; net, $34,665. Vermont & Iffassachusetts.-Line of road, Fitchburg to Greeu1:1.eld, Mass., 56 miles: branch, 3 miles. The road is leased to the Fitchburg RR. for 999 years at 6 per cent. Vermont Valley of 1871.-0wns from Bellows Falls to Brat;tleboro, Vt., 24 miles, and by purchase of stock the Sullivan County RAILROAD 90 STOOKS AND BONDS. VOL. XLI. Subscribers -will conCer a great t"avor by giving immediate notice oC any error discovered in these Tables. Bonds--PrinciINTEREST OR DIVIDENDS. DESnRIPTION. pal.When Due. Miles Date Size, or Amount of Par For explanation of column headings, &o., see notes of Outstanding Rate per When Where Payable, and by Stocks- Last Dividend. Cent. payable Whom. on first page of tables. Road. Bonds Value. Ticksburg & .Merid·i an-Prior lien bds ($7,000 p.m.) 1stmorrgage ..••.••................ · - -·· .•..•••.••. 2d mortgage .... ..•...• •.................••...•..... 3d mortgage income (not cumulative) ............ Ticksb. Shrevep. ct Pac.-PJ,'ior lien M. \$7,000 p.m.) 1st mortgage, gold ....•. .••..•....•......•..••.... Income bonds ..................•.........•. . .....•. Tirginia Midtand----Stook . .....••..•..••...•...•...•. 8j ::;1 ::::::::::::::::::::::::::::::::::::: --- -1885 i¥o 1881 140 140 189 ·-·· 3:;"4 .... J3~!ds, 12 ...... 3d series ..•...•..••..•••.••••..••..•..••... do 4th series .............••.......••.••...•.. .. do 5th series ..•..••...•...••...•..........•.... do do 6th series ..........•.............. ---·--·· .. Income mortgage bonds strictly cumulative ..... Tirrania & Truc!cee-1 st _l\L ('pay'ble $100,000 a year) ··52 Wa ash St. Louis & Pacific-Stock, common ..•...•. 3,518 Preferred stock, 7 per cent (not cumulative): ••... 3,518 Receivers' certificates. . . . . . • . . -...........•..••... General mortgaie, ffi,old {for $50,000,000) .....• - .. Ai1: Collateral trust on s coup. {see remarks) ........ All. 1st mort. bonds on Champaign Hav. & West .••... 131 do 1st pref., convertible ..•... 131 262 lstmort., gold (Chio. Div.) .... _...•...........•.. .1st mort., gold, on Cairo Division ......•...•...... 270 1st mort., gold, Detroit Division ..•...•......••.... 112 -ist mort., gold, Indianapolis Division .. _..... ..... 87 74 Indianapolis Peru & 0hio., 1st mortgage ... ... .... Rav. Rantoul & East., 1st mortgage ..........•... 75 lstruort., gold, Iowa Division . ..... - .......••..•.. 143 Wabash, 1st mort. {Toledo & Tilinois) ............. 75 do 1st mort. (Lake Erie Wab. & St. L.) ..... 167 do 1st mort. (Great Western of 1859) .... . .. 180 .... .... ---· ---· 1881 1881 1885 ------- issi 1881 1881 1881 1881 1881 1882 ~874 -··· iRs4 1880 1883 1880 1879 18~0 1881 1881 1881 ..... iss·1 1853 :!.853 1863 m $1:ooo $1,000,000 1,000 1,100,000 500 &o. 1,920,000 -·-- ---- (ooo :RR. from Bellows Falls to Windsor, Vt., 26 miles; total, 50 miles. Controlled in the interest of the Connecticut River RR. The Sulllvan County RR. stock is deposited as collateral security for the above :mort. bonds. Earnings, &o., for four years ending March 31, were: Passenger Freio-ht (ton) Gross Net Divid'd, Yea.rs. Miles. Mileage. Mfieage. Earnings. Earnings, Per ot. 1881-82 50 3,481,202 18,107,974 $366,967 $87,187 4 1882-83 50 4,056,025 22,622,270 407,999 149,526 5 1883-84 50 4,555,171 20,864,921 398,614 113,784 6 J.884-85 50 4,246,085 20,199,299 373,598 110,747 6 Vicksburg; & lJieridian.-LINE OF RoAD.-Vioksburg to Meridian, :Miss.; 140 miles. In October, 1885, the gauge was changed to the etandard 4 feet 8¼ inches. It is mainly owned and controlled by the ..Ala. N. o. Tex. & Pao. Juno. Co., and form~ a part of the route of that company between Cincinnati and New Orleans, which was opened for ousiness in November, 1883. The company was unable to earn fuU interest, and reorganization was made in 1881. In 1886 the second mort. interest was to be 5 per cent, then 6 per cent for thirty-five years. 'Preferrtd stock, $1,940,612; common stock, $3,962,100. In October, - "J.885. it was voted to issue prior Jien bonds ahead of the old mortgages. Mr. F. s. Bond was a;;_i!~inted r~ce.tver Qt th company on a small judgment obtained against it. For purposes of comparison the following statement is givefi showing :the operations of the company for three years ending March 31 : G1·oss earnings1882-83. 1883-84. 1884-85. 'Passeng5r receipts ......•.. .'...... $167,456 $190,215 $169,162 Freight receipts .••..•....•. ~...... 303,269 300,026 296,973 Mail receipts........ . . •. . . . . . . • . . . 9,246 9,307 11,927 Express receipts.... . . • . . • • . . . . . • . 4,813 5,342 6,445 Miscellaneous........ . . • . . . . . . . • . . 11,065 8,991 11,095 Total........................... Working expenses··-············· • $495,851 354,527 $513,884 410,861 $4~5,603 465,967 Net revenue.. ...... ........ ... Fixed charges for interest........ Miscellaneous..................... $141,324 $93,000 752 $103,023 $103,083 10,341 $29,635 $104,000 7,6;;;3 ----- ----- $93,752 $113,424 $111,633 Balance . .... •................ .. Sur. $47,572 Def.$10,402 Def.$81,997 -(V. 40, p. '715 ; v. 41, p. 488. Vicksburg SlHeveport & Pacl:dc.-From Delta, La. , on Mississippi River, to Shreveport, 169 miles, and extension to Texas State Line. :20 miles (the latterleasecl to Tex. &Pac.); total, 189 miles. The oomvany was chartered as Vicksburg Shreveport & Texas, and opened from Delta io Monroe, La., in 1861; the rest of the line to Shreveport was not opened till 1884. Th e old road was sold in foreclosure Dec. 1, 1879, .and reorganized under present title. The 8took is $3.000,000, of whicll the Ala. N. O. & Texas Pacific Junction RR. Co. holds $1,594,000, and controls this company. Virdnia lJiidland.-LINE OF ROAD.-From Alexandria to Gordonsville, 88 miles; Warrenton Branch, 9 miles; Charlottesville to Lynchburg, 60 miles; Lynchburg to Danville, 66 miles; Pittsville Branch, 9 miles; Manassas Junction to Harrisonburg, 114 miles (of which 49 miles leased to Balt. & Ohio) ; Front Royal Branch, 1 mile; total owned, 347 miles. Leased. Orange C. H. to Charlottesville, 28 miles; Pittsville to Rocky Mt., 30 miles; total leased, 58 miles. ·.rotal owned and iea.sed, 405 miles, of which 51 miles, Stt-asburg Junction to "Harrisonburg, is leased to the Balt. & Ohio, leaving 354 miles operated. The Washington City Virginia Midland & Great Southern was a consolidation (November, 1872) of the Orange Alexandria. & \:lanas!'as and Lynohbnr.z & Danville railroads. The Orange Alexandria & Manas as was a consolidation (June 1, 1867) of the Orange & Alexandria and the Manassas Gap. The Washington City Virginia Midland & Great Southern was put iuto the hands of a receiver July 1, 1876, interest being in default, anrt was sold in foreclosure May 13, 1880, and after litigation .sold again Dec. 20, 1 880. Reorganizecl as Virginia Midlanu, ana bonds and stock issued as above. The Baltimore & Ohio had large claims against the company for coupons, and after reorganization that company aud t he Ga.netts sold their lar~_e interest, amounting to $3,000,000 in stock, to the Richmond & Danville Syndicate, the last payment being made in Jan., 1883. Of the above bonds, the first series is a first 1ir n between Alexandria and Gordonsville, iuolucting lease of Charlottesville & Rapidan Railroad and tho Warl'enton Branch; the secolld series is a second lien lJetwceu Alexandria and Gordousville, includin,1r Warrenton Branch and lease of Charlottesville and Rapidan R ti., and a first lien b etw een Char lotte,:,ville and Lynch bur:!; the third series is a thinl lien between Alexandria and Gordonsville, inoluiling Warrenton Branch and l ea~e of nharl ottesville & Rapidan RR., and a second lien between Charlotte ville anct. Lynchburg; the fourth series is a fourth lien between Alexandria ~ncl G()rdonsville, in1;luding Wai-renton Branch and lease of Charlotte ville & Rapidan RR., and a third lien between Charlottesville and Lynchburg; the 1ift ll series is a first lien between Manassa8 Junction and Harrisonourg, including Front RoJ al Branch and lease of road from Strasburg to Harrissonburg to the B. & O. RR., and a fifth lien between Alexandria and -Gordonsville, including Wanenton B~anoh and lease of Charlottesville & Rapidan RR., and a fourth lien between Charlottesville and Lynch• burg; the sixth series is a 11.rst lien between Lynchburg and Danville, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis (1) 4,000,000 3,500,000 ·ioo 6,000,000 600,000 .... 1,900,000 .... 1,100,000 . ... ..... 943,800 l,77f\,OOO .... 1,310,000 3,659,102 1:000 1,000 500,000 100 27,372,500 100 23,034,200 329,740 17,000,000 1,000 5,671,00~ 1,000 1,16::!,000 lOO&o. 3-10,900 1,000 4,500,000 1,000 3,857,000 1,000 2,052,000 1,000 2,000,000 1,000 275,000 300,000 2,052,000 1:000 1,000 900,000 1,000 2,500,000 1,000 2,496,000 ..6. 4to 6 7 ---6g. -··· ··s· 6 5&6 3-4-5 5 4&5 6 10 .•i¼ ··s·g. 6 6 7 5 g. 5 g. 6 g. 6 g. 7 7 6 g. 7 7 7 --- Yo:ri;i>iockdo& Co. A.. &..O. New M. &N. de .... do .... . ... ..... M: &··s. M. M. M. M. & & & & 8. 8. S. 8. M.& s. J . & J, Q.-F. Q:.:.::F. J. ·&·n. M. &N. J. &D. J. & J. J. & J. J. & J. J, & J. J. &D. J. & J, J. & J. M. & S. F. & A. F. & A. F. & A. do ···-···· -· ............. ····--···· Aug: "i2; .i920 -------- Balto., Mech. Nat.Bank. do . do do do do Last paid July, 1884 San Fran., Bank of Cal. .. .. , .Apriff, ..i921 May 1, 1921 June 1, 1921 ........ ...... -... Mar:. i, ..i906 Mar. 1, 1911 Mar. 1, 1916 Mar. 1, 19~1 Mar. 1, 1926 Mar. 1, 1931 Jan. 1, 1927 Aug. 1, 1889 N o=.i. "i5:-is81 Dec: ·1, 1883 Last paid. Dec: i, 1883 Last paid Jan. 1, 1884 Last paid. Last paid Tan. 1, 1885 Last paid Jan. 1, 1884 Last paid Jan. 1, 1884 Last paid Dec. 1, 18_8 3 . . ........... ....... Last paid Jan. 1. 1884 Last paid March 1, 1884 Last paid Aug. 1, 1884 Last paid Aug. 1, 1884 Last paid Aug. 1, 1884 1; June· ·i92 0 May 1, 1913 Dec., 1910 July 1, 1909 July 1, 1910 Oct. 1, 1931 July 1, 1921 Jan. 1, 1921 June 1, 192 l 1897 Mar. 1, 1921 Aug. 1, 1890 Aug. 1, 1890 A.ug., 1888 including Pittsville Branch and lease of Franklin & Pittsylvania RR., and a sixth lien on lease of Charlottesville & Rapidan Railroad. The $3,659,102 income mortgage bonds were issued to retire 1st and 2d preferred stock; the interest is strictly cumulative, and secured by the mortgage, and in July, 1885, the coupon due July, 1884, was paid. Earnings for the years ending September 30 were: Miles. Gross earnings. Operat'g exp'ses. Net earn'gs 1881-82. ... $1,491,921 $945,116 $546,804 1882-83 . ... 354 1,664,204 956,191 708,009 1883-84 . . . . 354 1,625,830 999,2 l 7 626,612 1884-85 . . . . 354 1,554,375 990.432 563,943 In 1882-83 $119,908 in addition to above expenses were spent for construction, &o.;in 1883-4, $198,841; and in 18~4.-5, $89,835. (V. 39, p. 734; v. 40, p. 764.) Virginia & Truckee.-Reno, Nev., to Virginia, Nev., 52 miles; The bonds are payable $100,oOO per year. Gross earnings in 1883 were $705.224; net, $Z94 ,l 74; dividends, $142,500. In t88'1 gross earnings, $711,408; net, $325,001; dividends, $210,0(JO. While the nominal stock is $6,000,000 the reports say that the amount of paid-up capital is not known in consequence or the destruction of the books by fire several years ago. D, o. Mills, President. Wabash St. Louis & Pacific.-(Formerly operated by Mo. Paciffo.J -LINE OF RO.A.D,-The number of miles of road operated December. 31, 1884, was as follows: East of the Mississippi River-Toledo to Decatur, 323 miles; Decatur to East St. Louis. 209; Camp Point to Quincy, 22; D ecatur to Camp Point, 129; Bluffs to Hannibal, 48; Maysville to Pittsfield, 6; Clayton to Elvaston, 3 '>; Edwardsville to Edwardsville Junction, 9; Detroit to Logansport, 206; Michigan City to Indianap• olis, 1 61; Att.ioa to Covin~ton, 15; West Lebanon to Leroy, 76; Tilton to St. Francisville, 109; "\·mcennes to Cairo, 157; Bates to Grafton, 71; Champaign to Sidney, 12 ; Peoria to Jacksonville, 75; Springfield to Havana, 44; Streator to Fairbury, 31; Strawn to Altamont, 117; ShumwaytoE1fingham,8; Strawn to Chicago, 99; Champaign to Havana, 100; White Heath to Decatur, 30; State Lme to Keokuk, 222: Hamilton to Warsaw, 5; La Harpe to Burlington, 20; total east of the .\1ississippi, 2,305 miles. West of the Mississippi-St. Louis to Kansas City, '1,7 7 miles; St. Louis Levee to Ferguson Junction, 10; Centralia to Columbia, 22; Gla:igow to Salisbury, 15; Moberly to Ottumwa, 131; Brunswick to Council Bluffs, 224; Roseberry to Clarinda, 21; Lexington June. to St. Joseph, 73; West Quincy to Trenton, 134; Keokuk to Humeston, 131; Relay to Albia, 24 ; Des l\Ioines to Fonda, 115 ; Albia to Des Moines, 67; total west of the Mississippi, 1,243 miles. Grand total east ftnd wes:t, 3,549 miles, of which 802 miles were leased roads. (Many leased lines were dropped in 1885. and on Dec. 1, 1885, the mileage operated"' as reported as 2,373 against 3,518 Dec. 1, 1884.) ORGANIZATION. LEASES, &c.-The Wabash St. Louis & Pacific was formed Nov. 7, 1879, by a consolidation of the Wabash and the St. Louis Kansas City & Northern Nads and their branches. The Wabash Comp any was organized Jau. 1 , 1877, as successor of the Toledo Wabash & Western, which company was formed June 25, 1856, by a consolidation of several companies, and defaulted on its interest in 1875 and was foreclosed June 10, 1876. The St. Louis Kansas City & Northern was formed in 1871 as successor of the North Missouri Railroad, whioh was sold in foreclosure August 26, 1871. In .April, 1883, the Waba.sh St. Louis & Pacific was leased for 99 year& to the St. Louis & Iron Mo untain (and thus to the Missouri Pacific), on, the general basis of paying over to the Wabash its net earnings each year. In May, 1884, Messrs. Solon Humphreys and Thos. E. Tutt were appointed r eceivers on the company's own application in view of the prospective default June 1 on the general mortgage bonds. R eceiver's certificates were to be issued if authorized :for $4,200,000, o:t w h ich $2,200,000 to take up notes endorsed by Messrs. Gould, Humphreys and others, were of inferior lien. See V. 38, p. 756; V. 39, p. 23. (Not a large amount had been issued to April, 1885, reported as only $50,000 or the class " to pay current indebtedness.") Changes were made in the first plan of reorganization and the plan as sulJmitted in London to t he meeting of general mortgage bondholders, April 22, 1885, was publish ed in the CHRONICLE, v. 40, p, 571, and, as afterward modified, in V. 4 1, p. 300, at considerable length, embracing all its principal points as set forth by the committee in New York, and pro,iding for the issue of $30,000,000 new debenture bonds, to be disposed of as there stated; also the following points: Upon receipt of the new debenture bonds, the holders of general mortgage and collateral trust bond certificates are to pay two per cent in casL1 on the face of the new bonds, for which they will receive debenture bonds or scrip. . After the formation of t h e new company, the Purobasiug Committee will offer the new stock to the stockholders of the Wabash St. Louis & Pacilio Railway Company, at the rate of eight dollars per share on preferred, and !'ix dolla1 s per share on common stock, who, for the amount so paid, will be entitled to debenture bonds, or scrip, dollar for dollar. in addition to the shares in the new company. The bondholderR a.,.ree to take any stock and debenture bonds not accepted by stockholders, upon the same terms, t-ro rata, the amount, however, not to exceed five per cent on the face of their bonds. The amount received from bondholders, and from the sale of new stock and bonds, is to be appropriated to the payment of receivers' float-- DECEMBER, 1885.] RAILROAD STOOKS AND BONDS. 91 Subscribers -will conCer a great Cavor by giving inun.edlate notice oC any error discovered in these Tables. ,. DESCRIPTION. Miles D ate INTEREST OR DIVIDENDS. Bon ds-PrinctSize, or Amount _ p nl,When Due. For explanation of column headings, &c., see notes Roofad. _ onfds Vpal~ie. Outstanding Rate per When Wher e P ayable, and by Stocks-Last; 80 on first page of tables . , Cent. P ay able Whom. Dividend. Wabash, St. Loins cf Paci fi,c-(Oonlinited)Wabash, 1st m ort. <Quincy & Toledo) ............. do 1st mort. (Ill. & So. Iowa) extended ..... 2d mortgage (Toledo &Wabash) ......... do 2d mortgage (Wabash & Western) ....... do 2d mortgage (Great West. of 1859) ..... do Consol. M., (on all but Dec. & E St.L.) .. do 1st mort., (Decatur &E. St. Louis) .. . ~ .. do Fund. debt ods. & sc, certs. (see remarks.) do do Mort ., ~old, sink. fd. $25,000 after '82 .. Hannibal & Naples, 1st mortgage ...... . .......... St. L. K. C. &No., 1st mort. (North Missouri) ...... do real estate & railway 2d mort . ... do 1st & 2d ~Lon St. qnar. Brid¥e,coup.orrg do 1st :n'L , Omaha Div., ~ld, s .. , coup.or rg do 1st m ort .. gold, Clarmda Branch .. . ... Toledo Peoria & West., 1st mortgage .............. do 1st pref. income, conv., int. guar .. gu1ncy Mo. & P ~cinc, 1 st mort., ~old (int. guar.). entrev. Moravia & Alb. RR., l s mortga ge .. .... Chicago Cineinuati & Louisville, 1st mortgage ... Ware River- Stock (guaranteed) ......... . .. . .. . . . ... Warren (N.J.)-St ock . . . .. . .......................... 2d m ortgage, now l st .............. . ..... . ......... 1st con sol. mortgagt- .... . ... . ................. . ... Washington Oily & Pt. Lookmtt-lst M... bonds gold . 1st mort .• gold (fo r $ 2,000,000) ...... . ...•........ 33 29 75 167 180 490 109 . --"50 354 354 --- 146 22 237 i36 24 73 4!l 18 18 18 12 ··-· 1865 1,000 1862 $500&c. 1853 250 &c. 1858 100 &c. 1865 1,000 1867 1,000 1869 1,000 1877 500 &c. 1,000 1879 1,000 1879 1865 1,000 1874 1,000 1878 1.000 1879 1,000 1879 1,000 1,000 1880 1880 1,000 1,000 1879 i867 ---- 1855 1870 1875 187:i 1880 500&0. 100 100 50 ---..... ---· ing d ebt, accord in g to the terms of purchase which may be made under the decr ee of snl e. · The d eb enture mor t gage bondholders are to have equal representation with the sto ckholders of the new company in the board of directora. LEASED LINES. On a number of the auxiliary lines foreclosure proceedings have been commen ced and are now p ending. The receivers are pay ing interest on some of the old bonds of the compar.y a few months after the dates when due. An exhibit of the earnings and charges of the numerous leased lines 1,hows that few are earning their full charges, but such an -exhibit maybe mi leading, inasmuch as the earnings over the main road from business derived from some of the leased lines can easily make them profitable to hold. The receivers' statement of net earnings on different lines was in the CHRONICLE, V. 41, p. 558, 586. By order of the Court several of the leased lines have been restored to their own ers and placed in the bands of s eparate receivers, including the Cairo Division, operated by A. J. Thomas, receiver, aud now known as Calro Vincennes & Chicago, the issue of enough r eceiver's certificates havin"' been authorized in August, 1885, for steel rails and equipmen t; t'iie Toledfl Peoria & West .. operated by the mortgage trustee; the Havana Division-Havana Rantoul & East.-operated by the mortga~e trustee; Quincy Missouri & Pacific; Missouri Iowa & Nebraska, Thos. Tnatcher, of .New York, receiver; and a foreclosure suit has been begun on tbe Omaha Division of the St. L. K. C. & N. Joint obligations with the Missouri Pu.citlc Railway Co. on account of the lease of the St. LouisBridge&Tu.mwlRailroad, dated July 1, 1881, are stated under the tiLle of St Lonis B1 idge & Tunnel RR. among "Miscellaneous Securities" in this SUPPLEMENT. The Centrev. Mor. & Albia is leased in perpetuity; rental, interest on bonds. The Des Moines Northwest. is leased for 99 years from Feb. 28, 1881; rental, interest on bonds, any surplus of net earnin~s after such payment to go to stockholders. The Des M. &St. L. RR. is 1eascd in perpetuity; rental, int. on bonds. All these roads are practically the property of the w. St. L. & P. RR. Co., and preserve merely a nominal existence. The Toledo Peoria & War. company- made default Dec., 1873, and was operated by a Receiver until sold m foreclosure on .Jan. 20, 1880. It was purchased by a committee of bondholders for $6,000,000, and reorganized as Toledo Peoria & Western. This company made a lease for the tenn of its charter to the Wabash St. Louis. & Pacific on terms as follows, Viz.: That the Wabash Pacific guarantee 7 per cent on the $4,500,000 first mortgage bondlil of the Toledo Peoria & Western. The $!,900,000 income bonds to be guaranteed at 4 per cent a,nd to be convertible at par for Wabash St. Louis & Pacific common stock. The $1,000,000 second preferred income bonds were also convertible into Wabash preferred stock, share for share. The Toledo Peoria & Western stock ($3,000,090) was changeable lnto Wabash common stock, three shares for one. Since the default of Wabash in .July, 1884, the bondholders of this road are taking meas urns to protect themselves, and foreclosure proceedings were commenced in March, '85. See V. 40, p. 305. STOCKS AND BONDS.-Preferrect stock has a prior right to 7 per cent (non-cumulative); then common to 7; then both share in any surplus. Prices of stock since 1879 have been: Common in 18:W, 26½l'lll48; 1n 1881, 33141il60; in 1382, 23!!s'al39 7s; in 1883, 15@3614; in 1884, 4@19:\i; in 1885, to Dec. 18, 2'i711512. Preferred in 1880, bl¼:@883s; in 181H, 64141il9614; in 1882, 45 7sW71!!s; in 1883, 2916W5712; in 1884, 9@32; in 1885, to Dec. 18, 6161il25. The trustees of the general mort. for $50,000,000 are the Central Trust Co. of N.Y. and James Cheney of Indiana. The mort. may be foreclosed after six months default of interest1 if a majority iil value of all tbe bondholders so request the trustees. F....!"st nwlt. on St. Charles Bridge is for $1,000,000, and is 6 per eent now, running absolutely till 1908. The amount of funded debt bonds of 1877, due 19_07 as above given, includes t h e scrip certificates for coupons funded and deposited in trust, which eert itlcates amounted January l, 1883, to $1,014,453, and are exchangeable into the bonds. If not exchanged the certificates fall due with the principal of the bonds from which coupons were cut. The collateral trust bonds of 1883 were iesued for floating debt. These bonds are guaranteed by the St. Louis Iron Mountain & Southern RI.{.. Co., and in 1884 a mortgage was recorded on all the Wabash property for $10,000,000 to the St. Louis Iron Mt. & Southern as security ror thi~ guarantee. The old Toleclo & Wabasll equipment bonds of 1862 ($600,000) were decided in March, 1883, to be a lien ag ainst this company, with interest since 1874, making$!z._100,110, and judgment was so entered in May, '84; but on appeal to the u. S. Supreme Court the judgment was reversed. OPERATIONS, FINANCES, &c.-The Wabash St. Louis & Pacific extended its lines very widely in the years 1879 to 1882 (under the presidency of Mr. Solon Humphreys/, by the acquisit1on or branch and connecting roft.ds, and thereby assumed heavy liabilities. Although the earnings increased larg~ly, the annual liabilities were still far in excess of the n et protl.ts. The road was operated in close connection with the Gould l::!outhwestern system running into St. Louis, and the formal lease to the St. Louis & Iron Mountain Company placed the Wabash in complete coutrol..)f the Missouri Pacific prior to the appointment of receivers :l'.or the Wa bash. The income account for the yPar 1~8! showed the following: Gross earuiugs, $16,661,tS02; net earnings, $ :1,055,,W»; other receipts. $240,339; t otal n e t income, $&,~95,638. The p3,yments w ere: Renta.11:1, $828,244; inter& t on bonds, $2..,_8 ,'> ~, 199 ; interest on flo ating de bt, $137,984 ; taxes. $ ,1,44. 971 · extraoruinary expenses and equipment account, $698,- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis M. &N. Last paid Nov. 1 , 1884 500,000 7 F. & A. L ast p aid Au g. 1 , l l-l84 $300,000 6 M.&N. Last p aid Nov. l, 1884 1,000,000 7 M.&N. Last paid Nov. 1, 1884 1,500,000 7 2,500,000 7 . M.&N. Last paid Nov. 1, 1884 2,610,000 Q.-F. L ai;;t }Jaid Nov. 1, 1884 7 2,700,000 F. & A. L ast paid Aug. 1, 1884 7 3,009,675 6 &7 F. &A. L ast p aid Aug. 1, 1884 2,000,000 7 g. <\.. & o. L ast p aid Oct. 1. 1884 500,000 7 .J. & D. Last paicl D ec. 1 , 18 . 4 6,000,000 L ast paid July, 1885. 3,000,000 .... ... .... . 1,388,500 6 &7 g. A.. & o. 7 g. A.. · & o. L as t pn,td. Oct: i, 1884 2,350,000 264,000 6 g. F. & A. Last p aid A.ug. 1, l8t14 4,500,000 7 Q.-.J. Last pai.1 April, 1884 1,189,000 4 J. & .J. Last paid J an ., 1884 1,204,000 6 g. J. & J. L ast p aid Jan. 1. 1884 J. & .J. Last paid .Jan. 1 , 1884 400,000 6 1,000,000 .r. & J . Last pa id J a n . 1 , 1884 7 750,000 312 .J. & J. Boston , Bost.& Alb. RR 1,800,000 312 A.. & o. N.Y., D el., L. & W. RR. 750,000 .A. & o. do do 7 M. & S. do 600,000 do 7 540,000 J. &D. Balt imore, B alt.& O.RR. 6 1,000,000 .. ...... . .... . 6 . .... ~ Nov.1 , 1890 Aug. I, 191Z May 1. 1893' May 1, 1893 May 1, 1893 F eb. , 1907 .Aug. , 1889 Feb. 1, 190'T April 1, 1909.June 1, 1909 (;.U J uly 1, 1895 Sep t. 1, 1895 1903-1908 April 1, 1919 Aug. 1, 1919 Oct . 1 , 191'T Oct ... i:··ioog Feo .. 1920 J an ., 1887 July 1, 1885 Oct., 1885 Ap ril 1, 1900 Mar ch 1. 1905 1903 Nov. 1 , 1900 164; vool account, etc., $82,113; profit and l oss, $ 51 6,004 ; total, $5,296,845. D eficit, $2,001,206; deficit for 1 983, $'1. .073,58!; total deticit Dec. 31, 1884, :f6,074,791. The gener al b alance D ec. 31, 1882,. 1883 and 1884, was as follows : · The operations and fiscal r esults for three years were as below : OPERATIONS AND FISCAL RESULTS. 1882. 1884. 1883. Total miles operated ....... . 3,518 3 ,566 3 ,58Z OperationsPassengers carried.......... 4,251,393 3,905 ,665 4,046,577 Passenger mileage........ .. 166,198,560 154,727,718 154,700,993' Rate per passenger per mile 2·373 cts. 2·498 cts. 2·366 eta_ Freight (tons) moved . ....... 5,9 t 1,012 5,859,566 6,358,761. Freight 1tons) mileage ...... 1,247,611,320 1,263,790,523 1,373,842,462 Av'ge rate per ton per mile. 0·951 cts. 0·948 cts. 0·857 cts. Ea1·ni ngs$ $ $ Passenger.... . . . . . . •. . . . . . .. 3,944,520 3,885,753 3,659,909' Freight...................... 11,885,226 11,979,747 11,775,634Mail, express, &c.. •. . . •. . . . . 1,021,943 1,069,621 1,226,060 Total gross earnings .... Operating exp'ses & txs. 16,851,689 12,240,259 Net earnings ............ 4,611,431 Per ct. of expens toearn .• _. 72·64 INCOME ACCOUNT. 1882. 16,915,121 13,330,926 16,661,603: 14,051,274- 3,584,195 72·64 2,610,329 84·33" 1883. $ 3,584,195 452,-566 1884. $ 2,610,32g 240,339 ReceiptsNet earnings ..•...•.......•. Other receipts ............... $ 4,611,431 Total income ......•...•. DeductRentals paid ................. Interest on debt ......•...... 4,94.0,191 $ 9R7,608 2,850,668 4,302,006 4,036,761 $ 1,144,453 4,399,716 Total .................... Deficit, after int.and rentals 5,289,614 349,423 5,544,169 1,507,408 3,555,592. 704,924, 328,760 $ 828,2U 2,727,348 The report of this company for the year ending .June 30, as filed with the Ohio Railroad Commissioners, presented the following comparison; Earnin gs1884-85. l>,83-84. Changes. Freight ........ . .....•.. $11,31-<2,344 $12,170,851 D ec. $788,507 Passenger.............. 3,574,766 4,796,737 Dec. 1,221,971 Miscellaneous.......... 1,166,415 557,810 Inc. 608,605 · Total.. •............ $16,123,525 Operating expenses.... 13,851,524 $17,52., ,398 13,613,206 D ec. $1,401,873 Inc. 238,318 N et........ . . .. . . . . . $2,272,001 Interest, rentals, &c... ··--- ... ·--· $3,912,192 5,662,619 Dec. $1 ,640,192 Deficit............ . . $1,750,427 Net unfunded debt ..•. $12,185,811 8,592,285 Inc. $3,593,526 Passeng-ers carried.... 3,910,693 3,83 t,81 l Inc. 78,882 Frei~ht, tons........... 6.283,264 6,218,358 Inc. 66,906 -(V. 4.0, p. 153,184, 241,270,305, 337, 338, 364, 394, 427,482,510, 570, 617, 653, 686, 718,742; v. 41, p. 43, 103, 11:)0, 243, 300, 307, 331. 356, 3/)7, 472, 473, 528, 556, 558, 586, 613.) Ware Kiver.-Palmer, Mass., to Winchendon, Mass., 49 miles. It is Leased for 999 years to the Boston & Albany Railroad at a rental of ·7 per cent per annum. .J. A. Rumrill.. President, Springfield, Mass. ' Warren, N. s.-Line of road, New Hampton .Junction to Delaware Bridge, N. J ., 1814 miles. The road is leased to Delaware Lackawanna. & Western at 7 per cent on stock and bonds. Gross earnin irs, 1884 $496,744; net, $225,972. John I. Blair, President, Blairstown,N• .J. Washln!rton City & Point Lookont.-Hyattsvllle, Md. t,o Shepherd, Md., 13 miles, and to be ex tended. This roan was opened in 1873. It is leased to the Baltimore & Ohio for $36,000 gold per annum. The stock paid in is $1,000,000. Same officers a.s B altimore & Ohio Railroad. West .J"ersey.-Main line a.nd branches-Camden t o Cape May Bridgeton, Riddleton, Sea Isle and o ,·ean City, 132 miles ; leased lines 35 miles; West .Jersey & Atlantic R ailroad., 34 milea:1; t otal, 200 miles onerated. -For eight months from .Jan. 1 to Aug-ust 31, 188 '> , gross earninga. w ere $892,933,agaiost ;£92µ,4 t n in 18 ➔ 4; n et, $ .3 55,87:l, ag ,Li 11st $ 391,154. The annual report for 1884 was published in the CHRONICLE, V. 40, p. 452. Income account for four years was as follows: _.,_001 u 11;\ RAILROAD STOOKS AND BONDS. 92 (VOL. XLI. Subscribers U'lll confer a great Cavor by giving Immediate notice oC any error discovered in these Tables. DESCRIPTION. For explanation of cohunn headings, &c., see notes on flrstpage of tables. West Jersey-Stock ........................ .......... . INTEREST OR DIVIDENDS. Bonds-Princi• Miles Date Size, or Amount pal,When Due. I of of Par Outstanding Rate per When Where Payable, and by ·sto~k.s-Last Road. Bonds Value. Cent. Payable Whom. Dividend. -- 186 1st mortgage 10an ................................. . 38 lat do consolidated ... .... ................. . 63 Consolidated mort~age ................ ... ........ . 128 -West Jersey cf: Atlantic-1st mortgage .............. . 34 Pleasantville & Ocean City ....................... . West Slun-e-lst M. , guar. (for $50,000,000) cp.,• . West Vfrg·inia Oe11 t1·al & Pittsburg-1st mort ....... . Western (Ala.)-Western RR. bonds, before consol.. ·44 2d mort.. guar. by Cent. of Ga. and Ga. RR. & B. Co. 160 Western cf: Atlantic (Ga)-Income bonds ............ . 138 Western Maryland-lat mort., endorsed Balt. City .. 90 1st mortgage, unendorsed ........................ . 90 2d do endorsed by Baltimore ............ . 90 2d do endorsed by Wasnin~on County .. 90 2d preferred mortgage, unendorsed.. .. . ...... .. . . 90 3d mortgage, endorsed by Baltimore ...... ...... . • 90 90 4th do endorsed by Baltin•ore ............ . Funded coupons .................................. .. Western Nortn Oarolina-lst mortgage ............ . iio Consol mortgage .................................. . 189 -Western Pennsylvania-lat mort~sge ............. .. 57 1st mortgage, Pittsburg Branen .................. . 28 Registered bonds. . . . . . . . . . . . . . . . . . .............. . White Water-Stock ($325,000 of it pref.) ......... . 65 Wheeling cf: Lake Erie.-lst M., gold ($15,000 p. m.) 2d mortgage ....................................... . Wilmingwn Oolum;na & Augusta-Stock .........•. 1st mortgage ...................................... . Wilmington & N01·thern-Stock ..•.......•.•..••.•••• Wilmington cf: Weldon-Stock ...............•....•.•. Sterling bonds ....... ....... ....................... . Blnkine: fund bonds. e-oln ........................•.. 227 ·;.;o 222 200 - i866 1869 1879 1880 i885 1868 1870 1873 1858 1858 1867 1867 1868 1870 1872 1880 iss·1 1863 1865 1883 1879 1882 isso $50 $1,484,800 1,000,000 500&c. 1,000,000 500 &c. 748,500 500 &c 44.l•,OOO 1,000 80,0uO 100 &c. 1,000 1,100,000 340,000 1,000 1,171,000 1,000 513,000 200,000 100 &c. 400,000 500 &c. 30!),000 500 &c. 300,000 500 &c. 600,000 500 &c. 500 &c. 875,000 1,000,000 657,100 850,000 1:000 3,100,000 500 &c. 800,000 1,000,000 100 &c. 2,500.000 1,000 1,300.000 2,721,000 2,280,000 960,000 1,600,000 1,278,050 ·ioo 2,082,400 221,400 936,000 3 6 7 6 6 6 4 6 m 8 8 10 6 6 6 6 6 6 6 6 7 6 -6 6 5 ..6.g. 7 3 6 M. & S. Phila., Pa.RR.Co. Office Sept. 15i 1885 J. & A.. & M. & M. & J. & J. & J. 0. N. do do Jan., 896 do do Oct.. 1899 do do Nov., 1909 s. Phila., Fidelity I. T. Co. Sept. 1, 1910 J. Phila., Penn. RR. Office. July 1, 1910 J. New York. Jan. 1, 2361 Oct:· i·.· ·i8B8 Nat:CitYBan.k. A.. & O. do do Oct. 1, 1890 Q-J. Atlanta, Co.'s Office. Oct. '79 to '91 J. & J. Balt., N. Mechanics' B'k Jan. 1, 1890 J. & J. do do Jan. 1, 1890 J. & J. do do Jan., 1895 J. & J. Hagerstown, Md. Jan., 1895 J. & J. Balt., N. Mechanics' B'k Jan., 1895 J . & J. do do Jan., 1900 Jan. , 1902 1890 M.'&N. Ral.eigh;N~ C. May 1, 1890 J. & J. New York Agency. Jan. 1, 1911 A. & 0 . Philadelphia, Penn. RR. April 1, 1893 J. & J. do do i Jan. 1, 1896 J. & D. do do June 1,_ 1923 I A:&··o. N. Y., M:&·N. Lastpaid..May, 1883. M. & S. Last paid March, 1883. J. & J. J. & D. Baltimore. N. Y. and Baltimore. Nov:·i;·i909 1912 July 10, 1885 June, 1910 Jan~ .i6: ·i886 1886 1896 was unable to pay all its interest. .A. compromise was made with the preferred second mortgage bondholders for funding coupons. 1881. 1882. 1883. 1884. The Baltimore & Hanover RR. was completed to its connection with Boad operated........ . . . . . 163 175 188 200 this road in 1880. The Western Maryland operations for three years $ $ $ $ have been as follows, but in 1878·79 the construction account was Gross earnings............. 988,525 1,109,410 1,227,654 1,319,64.8 closed and all expenses charged to operating expenses, on which basis Net earnings................ 427,572 454,667 503,305 net ei:.-rnings have since been 1·elatively decreased. 441,896 11,966 Other receipts.............. 3,074 ....... . Passenger Freight Gross Net Miles. Mileage. Mileage. Earnings. Earnin~s. Total income............ 430,646 454.667 515,271 441,896 1882-83 ...•..•.. 131 16,201,680 12,876,711 $654,163 $254,175 Disbursements$ $ $ 16,512,178 13,114,956 665,995 258,245 :Rentals paid................ 33,034 33,034 36,571 41~270 1883-84 ......... 131 ............ 619,217 232,135 Interest on debt........ . . • . 175,726 177.118 175,174 1884-85 ......... 131 178,888 -(V. 39, p. 706; V. 41, p. 603.) Net earn.ofW.J.&A.RR.,&c 53,034 57,775 73,075 90,668 Dividends........ . . . . . . . . . . 54,390 82,807 85,232 87,788 Western Norlh Carollna.-Ownsfrom Salisbury, N. C., to P.unt Ra.te of dividend. . .. . • • . . . . . 4 p. c. 6 p. c. 6p. c. 6 p. c. Rock, Tennessee State line, 190 miles; Asheville to Pigeon River, 20 miles; total, 210 miles. The road was financially embarrassed. and was Total disbursements.... 3i6,184 350,734 373,766 394,900 purchased April 17, 1875, by commissioners for the State of North Balance, surplus............ 114,462 103,933 68,130 120,371 Carolina, and subseqi::.em;ly finished by the Richmond & Danville Terminal Railway & Wai·::-house Company, and is operated as a part of the (V. 39, p. 26.3; V. 40, p. 184,452; V. 41, p, 243.) Rict:rnond & Danville s stem. ln 1883·84 gross earnings. $-135,069; We•t Jersey & Atlan.tic.-Newfleld, N. J., to Atlantic City, N. J., net, $141,583. Stock. $4,110,000 common and $4,000,000 pref. A 84 miles; Pleasantville & Ocean City RR., 7 miles; total, 41 miles second consol. mort-1?age for $4,110,000 is held by the R. & D . Ter. R. & O:\)ened June 17, 1880, and operated by West Jersey Railroad on a W.Co. 1omt traffic agreement and 25 per cent of gross receipts on West Jersey from traffic of this road to be applied to any deficit in interest Western Pennsylvania.-The road runs from Blairsville to Alie• and then as slllking fund for bonds purchasable at 105, or drawn if ghany City, Pa., 6312 miles; branch to Butler, Pa., 21 miles; total, 84~ over that. In 1884. net earnings were $83,286. Stock is $666,550. miles. Comnleted in 1865 and branch in 1870. A new lease to the Two per cent dividend paid in July, 1884, three Jan. 1, 1885, and two Pennsylvania Railroad for 30 years was made in 1883, and an issue of -September, 1885. $5.000,000 consolidated bonds was authorized. The Pennsvlvania Rail• West Shore,-Line ~ road from Weehawken, N. J., opposite N. Y. road. lessee, owns $993,050 stock out of the total amount of $1,022,450 City, to Buffalo, N.Y., with branches to Albany City :tnd Rochester City, and $288,000 of branch bonds. about 472 miles in all. Thi s company was organi~d in December. 1885, Wldte Water.-Valley Junction, 0., to Cambridge City, Ind., 65 as s11ccessor to the~. Y. West Shore & Buffalo, sold in foreclosure. Mr. miles. This was formerly the White Water Valley, sold in foreclosl.ll'e J. Hood Wr!ght, a _partner in the banking house of J?rex~l, Morgan & May 2, 1878, an,1 reorganized under this title. Gross earnings in. 1882· Co. is P ues1dent of tbe new comJ)any, Ashbel Green 1s V1ce·Prcsident 83, $104,234; deficit, $5,979. Elijah Smith, President. snd F. E. Worce t er is SeC"rctary. The board of directors for the first year was as follows: Ashbel Green, TtinaJly, N. J.; CharleR Lanier, Whee~g & Lake Erie.-Road under constructi•n-Wbeeling. w. Edward King, Edward D. Adams, J. Hood W1ight, Charles H. Coster, Va., to Toledo, 0., 205 miles, and branch, Norwalk to Sandusky, o., 2-1 George S. J ones, Howard Manstleld, Herbert E. Kinney, C111trles Edward miles. fu. 1883, l 70 miles were in operation from Toledo to Valley June;. Tracy, George W. Krright. Francis Brown, New York 01ty, aud Joseph tion, 0., and the branch from Norwalk to Hm·&n, O.J and extended 10 P. Ord, of Englewood, ~ ew Jercey. miles to Sharrodsville in 1884. In 18d4 compa.ny ,tas e111barrassed. Immediately on its organization the new West Shore Company issu ed Foreclosure llegun in July, 1884, and M. D. Woodford appointed re$10,000,000 of capital stock, and an authorized amount of ,S50,uuo,vuo ceiver. A suit is pending by Handy aud Paton, trustees of ti.le Cleveland of 5 per cent bonds. A lease of the West Shore propet ty to the New & Marietta mortgage on the guaranty by this company. John P. Ke•• York Central CGN!pany for 475 years was executed in compliance with neds. President, New YorK City. (V. 39, p. 98, 210, 434 ; V. 41, the plan of reorganizatil n. The $10,000,000 of stock was handed over p. 43.) to the New York Central Company in consicleration of that company' Wilm.ington. Colulllbia & Augusta.-Own s from Wilmington, guarantee of the principal and interest of the $50,000,000 of new bonds. The bonds m question weie placed in the hands of Drexel, Morgan & N. C., to Columbia, S. C., 189 miles. Leased jointly, the Central RR, of South Carolina, Lane, S. C., to Sumter, S. C., 38 miles. Total operCo., who represented the bondhold er;;; and creditors of the N. Y. West . Shore & Buffalo RR.-(V. 40, p. 27, 93, 18'2, 338,363,394,406,425, ated, 227 miles. was sold in foreclosure, October, 1879, for $860,500, and com• Road 454,481,508,542,569,597,612,626,652, 717,742: V.41,p,2!,50, 77,102.133,190,216,242,273,337,357,a93,420,424,527,612,6l3, pany reorgc1nized under present style. In June, 1885, the road and property of this company were leased for 653, 654, 689.) 99 years to the Wilmington & Weldon, the lessee to pay all interest and West Va. Central & Plttsbu1·g-A coal and raih•oad company in fixed charges and 6 per cent dividend on the stock, payable semi•annuWest Virginia in the upper Potomac region-the Elk Garden Coal Field. ally in January and July. Income for three years was as follows: November, 1884, in operation from Piedmont, W. Va., to Davis, w. Va., INCOME ACCOUNT. 58 miles; Branch, Sbaw. W. Va., to Mineville, 2 miles: total, 60 mil1•s. In 1883 net profit on coal sales $41,038; net on railroad, $56,254: Receipts1882·3. 1883·1. 1884-5 to~l, $97,292. In 1884, net profits on coal sales, $57,523; net from Net earnings ............. $205,291 $197,486 $216,388railroad. $56,890; total revenue, $114,414; interest paid, $66,000; Interest, divitiends, &c... 9,903 14,834 26,146 surplus, $48,413. Stock, $5,500,000. H. G. Davis, President; S. B. Total.. ............... . $215,194 $21'.:!,320 $242,534 ~~t~rS:ice•President; James G. Blaine, W. H. Barnum, and others, INCOME ACCOUNT. Disbursements- Western AlnbaJDa.-LINE OF ROAD-Selma to Opelika, Ala., 116 miles; branches, Opelika to West Point, 22 miles; total, 138 miles, of which 5u ?Iiles is leased_ to Lonisvill~ & Nashville for $52,00il per an ulllll. Was a consolidatiou m 1870 of Mor,tgornery & West Point and W~stern of Alabama: Sol~l May 10, 1875, in foreclosure and purchased Jomtly by the Georgia Railroad and Central Railroad of Georgia. The old stock. and income bonds were wiped out in the foreclosure, and the property 1s represented by the bonded debt and $846,000 due each of the above companies. There are also $3'.:!,000 second mortgao-e 8s of Mont• gomery & West Point RR. due May 1, 1888. The gross lnd net earn• 1ngs cave been as follows: Gross Expenses and Net Miles. Earnings. 'l'axes. Ramin gs 1880-81. .............. 117 $692,911 $376,757 $316,154 1881·82............... 88 494,539 290,302 152,237 1882·83...... ......... 88 491,576 258,860 232,716 1883-84. ............. 88 457,597 215,9~6 241,671 ~este~n. & Atlantlc.-.A.~lanta, Ga., to Chattanooga, Tenn., 138 miles. Built by State of Georgia and opened in 1850, and by an act of October 24, 1870, was leased to a company for twenty years at a monthly rental of $25.000. We•te.J;"n ltlary~and.-LINE of ROAD-Baltimore to Williamsport, Md., 90 miles ; ~mrrutsburg Bran~h, 7 miles; Edgemont to Shlppens· burg, P a., 34 miles; total, un miles. The capital stock is $682 050. The company was largely assisted by the city of Baltimore,' and https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Interest........ . . .. . .. . . . . $97,734 Dividends {6per cent).... 57,600 $96,000 57,600 $96,000 57,600 Total.. ........ ~ ....... $155,334 $153,600 $153,600 Balance, surplus...... ... $59,860 $58,720 $88,934 -(V. 41, p. ti87.) Wilmington. & Northern.-Owns from Wilmington Del., to Birdsboro, Pa., 64 miles; branches, 24 miles; total owned 87 miles; trackage le'1sed, 5 mileEI; total operated, 92 miles. This company was organized Jan. 18, 1877, as successor to the Wilminlrtion & Reading RR. Co., which defaulted on its interest and was sold in ':foreclosure Dec. 4, 1876. Has bonds amountin~ to $Z28,700 in several small issues. Gross earnings in 1884, $344,t>36 ; net earnings, $63,033 : other receipts, $28,418; available reveuue, $91,452. Paid interest, $$11,456; bond~ redeemed, $5,300; surplus, $52,996. Willlllngton. & Weldon..-Road extends from Wilmington to Weldon, N. U., 163miles; branch to Tarboro, 17 miles; Scotland Neck Branch. 20 miles; also operates Midland N. C. RR., Goldsboro to Smith• field, 22 miles; total, 222 miles; ulso under construction branch from Wilson to Fayetteville , 70 miles. Was leased November, 1872, to Wil· mington Columbia & Augusta Railroad for 99 years. The lessees made default December, 1877, and the lease was surrendered April 13, 1878. In June, 1885, this company took a lease for 99 years.of the Wilming• ton Columbia & Augusta. (See that company above ) D.EOEMBER, 18E5. RAILROAD AND CANAL STOOKS AND BO.NlJS. 93 Subscribers -will conCer a great Cavor by giving immediate notice oC any error discovered in these Tables. Bonds-Pr1no1INTEREST OR DIVIDENDS. DESCRIPTION. Miles Date Size or When Due. .Amount Rate per When Where Payable, and by pal, For explanation of column headings, &c., see notes of of Par Stocks-Lat.a on first page of tables. Road. Bonds Value. Outstanding Cent. Payable Whom. Dividend. Wilmington & Weldon-( Oontinued)- Mortgage for $4,000,000 ...............•.....•. ..• • Wisconsin Oentral--Consol. mort., land grant, pref. 1st series ..............................•...•........ 1 i to~~~t:.~t ~r~~t~~~~t~~-.: :·.·.·:::::::::: Worcester ct Nashua & Rochester-Stock . ....... . ... Bonds, mort. cto be refunded when due at 4 p. c.) Bonds, mortgage ................................... Bonds, mortgage ............... . ................... Nashua & Roch., lstM., gu., conv. into N.& R. st'k CA.NA.LS. Albermarle & Ohesapeake-Mortgage bonds .•...••. Ohesapeake & Delaware-Stock .................. . ... 1st mortgage ~riginally $2,800,000) .............. Ohesapeake & 0 io-Stock ........................... Maryland loan, sinking fund .. .. . .................. Guaranteed sterling loan ........................... B onds having next preference......... .. ... . .... Repair bonds, Act 1878 ............•.............. Delaware Division-Stockel (Conv .into L.C.&N ,book.) 8 ~~-~~!:::::::: v!~~~;~t1g,iJ:~~1~c;.~ -~~~:. • ~. 1st mortgage, registered ...............•..••..... .. D eb enture loan of 1894, coup and reg ........... 1st M., coup. & reg., on Penn. Div. ($10,000,000) Lehigh Ooal & Navigation-Stock...... . . ..... ..... Loan, conv., coup.,gold (assumed L. & W. Coal Co) 1st mortgage, reg. (extended at 4¼) .............. 1st mortgage, r egistered, railroad. ................. Mort. loan. g. ($2,810,000 assumed by other co's.' 326 326 326 101 94 .... ..... .48 14 14 14 184 184 184 184 ·60 60 148 148 .... 339 ....... ...... ..... .... ---- - - - ----- - - - ---1885 $ .. . . (! ) ··1r M ..&..N. 1879 .... $360,000 1879 1879 1884 .... 1:000 100 100 &c. 500 &c. 1875 lOOO&c. 1874 500 &o. .... isfa 1879 1,000 50 1856 Vario's .... 25 .... 500 &c. ..... 500 &c. .... 500 &c. .... ··50 1,000 1858 100 1,000 187i 1874 1,000 1877 lOOO&c. . ...... 50 1869 500 &c. 1864 Var. 1867 Var. 1867 500 &c. The fl.seal year ends Sept. 30. The report for 1884-85 was in V. 4 1, P•J~~n"'s and income a ccount for three years is as follows: 0 EARNINGS AND EXPENSES. 188 -1- 5 . $ 289 •852 Total earnings ......... $797,429 Operating exp. and taxes... 601, 549 1 83· 4 · 412,993 103,500 --$788,014 493,383 Net earnings ..•....•..... $195,380 $294,631 $373,141 Receipts1882·3. Net earnings . ... . ........... $195 ,380 Other receipts........ ...... . 26,073 1883-4. $294,631 23,942 1881-5. $373, 141 29,9 37 Total . .... .. .. ...... . .... $216,053 $31 3,573 $403,078 1882· 3 · 263 , 241 Pas~engers. ...... Fre~e;ht.. ... ··· .. . ·· .. .······ .. . . ... . . . . $ 426,133 Mail, express, etc. .......... 108,055 Earnings from - $ 2 7l, 461 425,979 10?,126 $824,957 451, >:l l6 INCOME ACCOUNT. Disbursements - 79,365 Interest... ..... . . . . . . . . . . . . . $80,64 1 $ 80 ,698 Dividends ........... (6 p. c) 124,914 (8 p. c.) 1 66,592 (8 p. c.) 166,592 $245,957 Total.. .... •• ............ $205,585 $'247,290 $157,121 Balance, surplus............ $10,468 $71,283 -(V. 39, p. 680; V. 40, p. 686; V. 41, p. 69,687, 722.~ Wisconsin Oentral.-Owned on Dec. 31, 188!, the main line and b1a.ncheH Stevens Point to Menasha, 65 miles; do. to Ashland, 188 miles; do. t o Portage City, 72 miles; branches and spurs,21 miles; total owned, 345 miles. Leased: from Neenah to Schleisingerville, 64 miles; Packwaukee to Montello, 7 miles; operated under contract, Milwaukee to Schlei in11:erville, ::J3 miles. Total operated, 450 miles. The lease -o{ the Milwaukee & Nortbern was surrendered August, 1882. In January, 1879, the Wisconsin~Central Road was taken possession of by the trnstees for bondholders, who still operate it. There is a land grant of over 800,000 acres. The reorganization was practically accom• plished by consent, but holders of abgut $ - - - -- bonds tdld not .a.sseut, and their claims to a prior lien were su stained by the Court. S9e V. 4 1, p·. 586. The scheme embraced the issue of a new conS1t.Iimted ~ortgage to cover $400 ,000 5 per cent preferred bonds; $3,800,00t-TLir t series bonds, bearmg 2 per cent for three years from ~uly 1 , 1880, and 5 per cent afterward; and $5,700,000 second series bonds, to draw interest if earned (but not cumulative), 2 per cent for three years, and 7 per cent thereafter. Interest on the second series is payable J. and J., but dependent each time on the net earnings of the half year ending six months before. The stock of $11,435,500 remains, $2,000,000 of it preferred and $9,435,500 common, and is all depositea 1n trust with Stewart and Abbot, 'I'rustees, to be voted on until all interest is being earned and paid on new bonds, and in the jud o-ment of the trus~ es is likely to continue so to be. Trustees' certificates Jor new stock (without voting power) have been issued to the old stockholders, which pass as a delivery on sales. In March, 1882, the '. rru~tees and company leased for 99 years the Milwaukee & Lake Winnebago RR., from Neenah to Schleisingerville, which was completed in December, 1882; the r en tal is 37¼ per cent of gross earniogs up to $175,000 per year, all surplus to go equally to lessor and lessee,and the bonds are issued subject to this lease. The Minn. St. Croix: & W1sconsm RR., built m 1884, gave important extensions, reaching St. Paul from Chippewa Falls, 104¼ miles. From Milw aukee this company- makes use of Chic. Mil. & St. P aul tracks 32 miles ; an extension from Schleisingevilie to Chicago, 116 miles, a new road, was begun in 1895 by two companies, under the titles" Chicago Wisconsin & Northern'' in Wisconsin and '' Chicago & Wisconsin" m Illinois. See V. 41. p . 241. In V. JO, p . 762, is an abstract of the annual report for 1884, showing earnings and expenses, operations of the land d epartment, &c. For four years the earnings, &c., were: Passenger Freight (ton) Gross Net Years. Miles. Mileage. Mileage. Earmngs. Earnings. 1883 .... 450 14,992,032 39,128,716 $1,447,799 $122,660 1884 . .. . 450 14,613,556 43,338,991 1,429,075 151,679 -(V. 39,p. 98,437,545; v. 40, p. 718, '762 ; v. 41, p. 43, 103, 182, 241, 528, 558, 586, 654.) Worces ter & Nashua & Kochester.-Owns from Worcester to Nashua and Nashua to Rochester, 94miles. This consolidated company was formed Dec. 1, 1883, by a merger of the Worcester & Nashua and its leased line, the Nashua & Rochester. In October, 1885, a lease of this property for 50 years, from Jan. 1, 1886, was made to the Boston & Maine RR. Co. at a rental of $2.:>0,000 and taxes. Five years' operations were as follows; Passenger Freight Gross Net Years. Miles. Mileage. Mileage. Earnings. EarningR. 1880-81 .. 94 7,222,999 $16,153,062 $588,770 $155,196 1881-82... 94 7,467,524 16,999,008 631,982 156,993 188~-83... 94 7 ,592,458 17,844,586 661,531 173,325 1883-84... 84 7,335,977 17,338,246 639,447 181,421 1884-85 •• 94 •.........•• ............ 633,074 191,106 41, p. 527, 558, 586, 688.) -( v. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I 500,000 " 2,079,213 1,993,750 3,851,593 2,000,000 4,375,000 1,699,500 124,000 207,650 800,000 23,500 ,000 5,549,000 4 ,829,000 5,000,000 l:2,386 ,900 771,000 5,000,000 2,000,000 4,653,000 yearly Bostonj~o·ffice. J . & J. J. & J. do M.. & N. N.Y.,Farmers' L.&T.Oo. J. & J , Worcester, Office. do do Various A. & O. Bost., Globe Nat. Bank . F. & .A. do do do do A. & O. 5 p: ·ct." 1909 1909 1914 ~ov., 1885 May 1, 1887 .April 1, 1893 Feb. 1, 1895 April 1, 1894.c J. & J. "N. Y., Unlon Trust Co. J. & D. Philadelphia, Offlcjj. J. & J. do do J. & J. Q-J B[.,lt., .A."Brown. & Sons. London. Q-J. 5 J. & J. Balt. , .A. Brown & Sons. 6 6 J. & J . Ba,lt., Farm.& Mech.Bk, F. & .A. Phila ., 244 So. 3d st. 2 do do J. & J. 6 1¼ ~-Mch. N. Y ., Bk. of Commerce. do do . & J 7 .A. & o. N. Y. Office & Bk.of Com . 7 do do M.& S. 7 2¼ J. &D. Philadelphia, Office. do do 6 g. M.& s. Q-J. do do 4¼ Q-F. do do 6 6 g. J. & D . do do July 1, 1909' 3,800,000 5 5,700,000 7 2,600,000 6 3,064,500 17 stock 275,000 5 250,000 5 400,000 5 700,000 5 7 ··o· ··o· Jui;;;is·s6 ·is7o·· 1890 1885 1898 .A"';J.. 15, 1885 J y 1, 1898 Dec. 10, 1885 1891 1894 Sept. 1, 1917 Dec. 8, 1885 1894 July 1, 1914 1897 1897 CAN A.LS. AlberIDarle & Ohosapeake!-Canal betwee~ Chesapeake Bay and.Albermarle Sound, N. u., 14 miles. Gross earnings 1882-83, $102,_ 000; net, $70,000. President, Marshall Parks, Norfolk, Va. Ohesa eake & Dela-ware.-Delaware City to Chesap eak e City. Md. In the y efr ending May 31, 1 885, gross receipts were $208,854 and net $ 2 2 •516 · Chesapeake & Ohio.-This company was assisted with loans by the State of Mar y land. It has long been unable to meet its interest. In a, suit against the company the Court (January, 1881) declined to a ppoint a receiver, but order ed the company to report at statect times its receipts and payments. In July, 1 884, application again made for a receiver and sale of the canal. In 1883 gross earnings, $329,527; net, $34,474 ;interest on repair bonds, $7,4411. (V . .39, p. 21; V. 41, p, 23. ) Dela-ware Di vislon.-Leased to L ehigh Coal & N::i;vigation Co. at Interest ou bonds and 4 percent a year on stock. To Jan. 1, 1885, 28,514 shares werG converted into L ehigh Coal & Navigation stock, leaving 4-,153 shares unconverted. Dela-ware & Hudson.-The Delaware & Hudson Canal Co. was h artered .Apr il 7 1823, and &he canal from Rondout N. Y. to Hones• dale, Pa., was completed in 1 828. The company owns the following railroads, viz: Lackawanna & 811 quehannah, Nineveh, N. Y., to Jelfer• sonJunctfon, Pa., 22 miles; Valley RR., Carbondale to ScrantonPa., 17 miles; Union RR., Green Ridge to :Mill Creek, Pa., 17 miles; Plymouth & Wilkesbarre RR. and bridge, 3 miles; Gravity RR. , Olyphant to Hon~sdale, 56 miles; total owned, 114 miles; track of Jefferson RR. used by contract, 35 miles; total operated in Pennsylvania, 150 miles. This company is all.long t he lars:est miners and carriers of anthracite coal, and also leases the Albany & i:susquehanna and R enssela~r & Saratoga. railroads, including the N. Y, & Can.ada RR., who~e bonds 1t endor~es. T he stock was increased to $30,00 ,000 (of which $23,500,000 issued to Jan. 1, 1885) to pay off the bo~ds dl?-e 1n ~884 and 1891.: Of th~ remaining $6,500,000, $1,CJOO,OOOwill be 1ssuedm 1887, and $0,500,000 in 1891, t o take up au equal amount of 7 per ceat bonds. To share• holders of May 24, 1883, there was allotted 35,.000 shares to be paid for at par, one share of new stock being allotted for every six shares of the old stock held by shareholders on the date named . The annual report for 188! had the following: . "The mining of coal was suspended for 103 days durmg the year~ Under the policy of restriction the sueplus, or dividend fund, has steadily increased, notwithstanding the paym~nt fo~ several years of dividends of 6 and 7 per cent per annum. This po hoy has been again adopted by the anthracite in.tere.sts, t!Ion~h the m!-}thod of carrying it into effect has been changed. It 1s bellevea that this method, known as the percentum or allotment plan, will show deoided advantage,i in the. economies of miuin~." Comparative statistics for four years: INCOME ACCOUNT. 1881. 1882. 1883. 1884. Receipts$ . $ $ $ Sales of coal .... .•• .. . ..••. 9,328,763 8,99J,540 9,575,362 8,213,157 Canal tolls......... ........ 58,400 60,007 52,403 47,240 Miscellaneous profits...... 243,537 187,363 287,038 486,929 Coal on h and (Dec. 31) . . . . 345,075 492,924 745,436 892,804. Railroad earnings in Penn. 805,914 812,455 888,559 830,542 Profit on leased lines.. .. . 8,465 1,905 .......• Interest on investments... 301,858 249,497 257,541 284,464 Total ..........•....... 11,083,54710,8 04,25111 ,8 08,24410,755,136 $ $ $ $ 727,284 345,&75 492,924 745,436 3,985,304 4,422,213 4,996,195 4,549,480 755,331 798,701 811,873 557,500 1,737,979 ::..,680,192 1,642,844. 1 ,455,805 1,374,784 1,312,083 1,321,941 1,198,885 400,-!0l 407,756 546,624 585,44.6 . ... . . . .. . . . 174,49 0 2,102,464 1,838,201 1,995.843 1,488,094 Disou1·se1nents- Coal on hand Jan. 1..... .. Hining coal. .. ....... ..... . Uoal tral'..Bportation, &c. .. tJanalfreight and exps .... luterest .................... l'axes and miscellaneous. Loss on leased railroads... Balance . ........ . .... •.. ... Total.. ........•...•...• 11,083,54710,804,25111,808,244 10,755,136 GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR. 1881. Assets- Canal, &c ..•............... Railroad and equipment .. Real estate . ... ........... . Mines and fixtures ....... . Coal.yard, barges, &c .... . Lack. & Susquehanna RR. Albany & Susquehanna ... New York & Canada RR .. Cherry Val. & Sharon RR. Meehan. & Ft. Ed ward RR Schen. & Meehan. RR .. .• . Ooal on hand Dec. 31 ..... . Advances to leased lines .. Advances on coal royalties $ 6,339,210 &,456,258 9,027,804 2,729,311 690,397 1,022,938 1,074,808 3,597,074 300,000 16,146 200,773 345,075 400,015 615,514 1882. $ 6,339,210 6,581,070 9,044,175 2,751,236 683,185 1,022,938 1,008,787 3,597,074 300,000 48,296 210,922 492,92-1 637,605 625,073 1883. $ 6,339,210 6,957,188 9,035,163 2,796,329 670,678 1,022,938 520, 164 3,597,074 300,000 52,113 211,280 745,436 921,663 648,724 1884. $ 6,339,210 6,468,684 9,325,365 2,792,417 790,779 1,022,938 3,597:074 300,000 51,928 211,527 892,804 1,502,789 698,12 CANAL S1'0CKS AND BONDS. 94 fVoL. XLI. Subscribers -will conCer a great Cavor by giving Immediate notice of any error discovered In these Tables. DESCRIPTION. - - - - - - - -- - - - - - - - - - - - - - 1 .For explanation of colmnn headings, &c., see notes on first page of tlibles. INTEREST OR DIVIDENDS. Bonds-Prinoi• Miles Date Size, or Amount - - - - , - - - - - - - - - - - - - 11al,When Due • of of Par Outstanding Rate per When Where Payable, and by Stoc~-La.st Canal. Bonda . Value. Cent. Payable Whom. DJ.vide:nd. -· . - -· - - - - - - - - ---·--· - - - - - - - - - - - - -·1---- - - - .Lehigh Coal cl: .Navigation-(Continucd)Consolidated mortgage loan ........... ........... . Greenwood 2d mortgage, reg. Extended, 1877 .. General mortgage ...... ...... ............•..... . ... iforris-Stock, consolidated ...................... . Preferred stock ........ ... ......................... . New mortgage (for $1,000,000) .................. . Boat loan...... . . ............................... . Preferred stocl.. scrip dividend ................... . Pennsylvania-Stock .... . ........ ..... . . ............ . -General mortg., interest guar'd by Penn. RR ... . 0 .Bc;:[/:;;!d~i~t'k~~i-o.~~:~. ~~.~~~~~~::::::::: : : : : 1st mortgage, extended ......... ...... ............ . 2d mortgage ....................................... . Mortgage bonds, coup. (payable by P. & R.) ..... . ifoff~iii~~~\~~~~~:::::::::::::::::::::::::::::::: Boat and car loan ................................. . usquehanna-Maryland loan, 2d mortgage ....... . Susquehanna Canal, common bonds, 3d mort .... . do pref. bonds, 1st mort ....... . do pref., 1st T. W. priority b'ds. Ldo bonds of 1872, 4th mort .•.... 103 103 103 103 337 337 108 1871 $1,000 $2,470,750 1872 1,000 643,000 1,000,000 1,000 1884 100 1,025,000 100 1,175,000 1876 1,000 780,000 220,000 1865 various . 103.164 1869 various. 4,501;200 50 1,000 2,934,000 1870 690,812 50 3,295,150 50 1,000 1,709,380 3,990,392 1,000 1,200,000 228,000 1,000 1870 756,650 1,000 1863 628,100 1864 1,000 1,1)00,000 1839 1859 1,000 1,326,000 227,500 '44·'64 500 '41-'64 97,810 500 1,000 1872 250,000 [ 7 7 4½1 2 5 7 7 7 ..6. 35c. 700. 6 6 6 6 6 7 6 6 6 6 7 J. F. M. F. F. A. A. F. & & & & & & & & D. Philadelphia Office. A. do do N. do do A. Leh. Val.RR.Co. , Phila A. do do 0. do do 0. do do A. do do June 1, 1911 1892 1924 Aug., 1885 AU"'., 1885 April 1, rno6 Oct., 1885 Feb., 1889 Phila., 23·3 ·s;.;, 4th St. Philadelphia, Office. do do do do do do do dC' do do do do do do Phila. and Baltimore. do do do do do do do do .Juiy·;iiiio Feb.15,1884 Feb.15,1884 March, 1897 1882 to 1907 1895 May, 1880 May, 1913 May, 1915 .Jan., 1885 .Jan. 1, 1918 Jan., 1894 Jan., 1894 Jan., 1902 Q:.:..M. J. & J. J. & J. M.&N. :.1. & N. ::I. & & & & & & J. J. J. J. J. N. J. J. J. J. J. I 1881. 1882. 1883. 1884. The net revenues from all sources were $2,048,551, being $145,938 Assets$ $ $ $ less than last year-a loss almost wholly due to the decrease in railroad "Miscellaneous assets...... 2,985,349 3,658,429 3,944,549 *3,372,061 revenue, which was $177,528. Every other department of the business Telegraph and Car Co.... 69,410 69,410 69,410 43,035 shows gains except the coal, which yielded $16,252 less than in 1883, -Supplies on hand.......... 1,148,322 1,408,449 1,466,143 1,611,254 notwithstanding the decrease in the cost of mllling. Cash and bills receivable .. 3,884,088 2,609,203 3,914,976 2,823,812 The disouraements for rentals, interest, taxes and general expenses - - - - decreased $90,266. From the balance remaining after deducting these Total assets ..•. . ....... 40,902,484 41,087,986 43,i13,038 41,843,804 charges from the total revenue, $156,743 was appropriated for the Liabilities$ $ $ $ depreciation on coal improyements and for the coal sinking fund of ten Stock ..........•.......•... 20,000,000 20,000,000 20,000,000 23,500,000 cents per ton; $718,228 was paid in dividends, and the remainder, Bonds ..............•....... 18,843,000 18,763,000 18,763,000 15,378,000 $14,000, was placed to the credit of the dividend fund . .Miscellaneous accoUI1ts... 823,053 836,899 2,444,732 778,072 The first mort"'age loan of $5,381,840 matured April 1, 188-t. Holders .Fro:fl.t and loss ............. 1,236,431 1,4.88,087 2,005,306 2,187,732 of $ -5,000,000 ol this loan accepted the privilege or extension to July 1, 1914, with i □ terest at the reduced rate of four and one•half p er cent, Total liabilities ..•.... .40,902,484 41,087,~86 43,213,038 41,843,804 and the holders of the remainder, $381,84.0, were paid at the maturity of the loan. * These miscellaneous assets include the following: Sundry bonds For the purpose of raising funds to pay off fiJating d ebt, t o make the $148,608; 8,540 shares Albany & Susquehanna RR,, $854,000; 16,077 settlement with Nesquehoning Valley, &c., the general mortgage was shares Rensselaer & Saratoga RR., $1,607,700; 6,161 shares Delaware authorized in 1884. &Hudson Canal, $616,100; sundry stocks, $145,650. A majority of the stock of the Alliance Coal Mining Company has been -(V. 40, p. 195,213, 569.) purchased. The report says: " This was done largely by the exchange Lehigh Coal & Navlgatlon,-The Central Railroad of New Jersey of our stock for theirs, $650,4.00 of Lehigh Navigation stock being given assumed (in purchase or equipment) $2,310,000 of the gold loan due for $975,600 of Alliance stock. By this purchase we became possessed "l.897 and leases the Lebtgh & Susquehanna Railroad. The Lehigh & of about sixty•two per cent of the total sh:tre capital of the Alliance Coal Wilkesbarre Coal Company assumes $500,000 of the gold loan due 1897, l\fining Company, which owns an unincumbered estate of 4,097 acres in _and $771.000 (all) 0-f the conv<ible ~old loan due 1894. Bo.nda n:.atm• the same valley in wnich lie our Lehigh lands." tV, 41 , p. 720.) 1ng 1884 were extended till 1914 at 4½!, The Board of Managers' re port has the following statement of receipts and disbursements : Morrls.-Leased April, 1871, to Lehigh Valley Railroad for 999 years. The lessees assume bonds and scrip, and pay 10 per cent pe:r Receipts1882. 1883. 1884. .From railroads and Nesque. Tunnel. $1,445,l!,O $1,614,695$1,458,200 mmnm on pref. stock and 4 per cent on consol. stock . Lehigh Canal........ . . . . . . . . . . . . . . . . . . 55,699 65,552 77,444 Water Powers Lehi~h Canal.......... 21,065 20,881 20,525 Pennsylvanla,.-Worked in interest of Pennsylvania RR., which Delaware Division vanal.. .. . . . . . . ... 47,586 57,745 58,951 g1u.ra.ntees interest on bonds. An old mortgage balance of $67,000 is Net pro:fl.t on Lehi{$"h Coal............. 325,666 386,351 370, 10 I due in 1887. EarninO's in 188!, $319,685; net, $127,317; interest, taxes, .Royalty on coal mmed by lessees.... 7,209 3,642 4,441 &c., $18v,330; loss, $53,017. Earnings in 1883, $395,213; net, $191,446; .Revenue from rents . . . . . . . . . . . . . . . . . . 31,973 33,463 36,531 interest. &c .. $183,060; balance, $8,385; add taxes refunded, $28,285 ; Miscellaneous receipts............ . . . . 4,824 12,157 22,358 total, $36,672, --- Total receipts ..............•...... $1,939,212 $2,194.,489 $2,048,551 Disbursements1882. 1383. 188!. General and legal expenses . . . . . . . . . . $ti2,892 $65,064 $58,460 "Bent and taxet,1 Nesquehoning Val.RR 97,050 97,050 97,050 Rent and taxes Delaware Div. Canal. 102,356 81,439 69,921 Ta.xes. ...... .. ... . .............. ....... 74,648 71,916 80,078 Interest account . . . . . . . • . . . • . . . • • . . . • . 942,973 934,377 354,069 Schuylk.lll Navl ...atlon.-Leased from .June 1, 1870, to Philadel11hia & Reading for 999 years. 'r he rental payable by P. & R. in 1884 was $635,776. Expenses of all klnds, including ., -50,827 disbursed in dividends, were $582.512. The P. & R. receivns in July, 1884, d-ec1ined t o furnish money for dividends on stock, claiming tllat it had not been earned, aml. this question went before tbe Court. The P. & R. has paid some of the ooupou~ and purcha.sed other.;;. In March, '83. the pro• - - - - - posal t'ro:n P hila. & Read.in~ to merge this company by gt vinO' one share Total disbursements ..•..••....•... $1,279,919 $1,249,:345 $1,159,578 of Phil. & R. sto0lr for two of S. N". preferred and one share of P. & R. for :Balance ofincome..... .•••. ..••..•... $659,293 $9-U ,614 $388,973 four of S. N. common was rejected. (V. 39, p. 522; V. 40, p. 240,)j , The annual report for 1884 in CHRONICLE, V. 40, p. 239, sai l: Susqueb.auna.-Leased and operated by Philadelphia & Reading The earnings of the Lehigh & Susquehanna Railroad show this yea,1 a Railroad for interest on bonds and half of net earnings. The stock is exdeorease of $638,656, due almost entirely to the fallin~ off in coal ton• chan_;ed for Phlla. & Re1tding, two of canal stook for one of Rea.ding, Dage and in coal freight rates. The noating debt ia considerable, · -------- HENRY L. GRANT, NO. 145 BROADWAY, NEW YORK. ~ ~ DEA.LEK I:V THE BO~DS A.:\TD Sl'OCKS OF EVERY ROAD. Par. 100 1,~gg 1,org 1,000 100 1,000 100 Amount. Period. ·-- --$900,000 J. & J. ~ ~ Date.* Bid. Ask. July, 1885 27 7 July, 1900 113 2 Oct., 1885 276 5 Ja.ne,1904 109 3¼ Aug.,1885 204 5 Jan., 1902 106 4 A.pr.,1885 155 7 Jan., 1888 105 2 Oct., 1885 142 7 Dec., 1902 123 1¼ Oct., 1885 133 110 7 Oct., 1885 8 160 1¼ 6 Nov.,1922 111 4 Jan,, 1885 201 7 June,1893 114 .... Aug.,1914 1051,i -28¾ - 42d & Gr'nd St,]''ry-Stk 700,000 J. & J. 116 1st mort ................. 2,100,000 Q.-J. 280 Eighth Ave.-Stock ...... 1,500,000 J. & D. 111 Scrip ..................... 2,000,000 Q.-F. 208 Houst.W.St.&P.F'y-Stk 800,000 J. & J. 110 lstmort ................. 200,000 A. & 0. 160 Second Ave.-Stock ...... 400,000 J. & J. 112 lstmort ................. 1,800,000 Q.-J. 145 Consol. .................. 1,200,000 J. & D. 125 Sixth A ve.-S tk ...... , .. , 650,000 Q.-F. 138 1st mort . ................ 250,000 A. & 0, 116 Bond.B .. ...... ........... 1,~gg Third A,e.-Stock ....... 165 lstmort ................. Central Crosstown-Stk. 800,0001 Q.--.T. 250,000 M.&N. stmort ... ..... .. ....... 1,000 113~ Twenty.third St.-Stock. 100 1,200,000 Q.-F. ryDk.E.B,& Bat•y-Stk lstmort ................. 20212 5i0 900,000 J. & D. 11612 Ninth A venue ..•......... 1st mort., consol. ....... 100 1,200,000 F. & A. 107 .sorip ........ --·········· * T.b.18 cgl~ sh~WB last dividend on STOCKS and date of maturity of BONDS, Brok.~r st.& Fult.F.-Stk letmort ................. Br dway & 7th A v.-Stk. lstmort ................. Brooklyn Cliy-Stock .... lstmort ................. B\~~~;i.s~~~?s:-:-.~~~~~ Cent.Pk.N.& E.Riv.-Stk Consol, mort. bonds .... CbriSt'ph'r&l0th St-Stk https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis l,~gg 34 r•~. ,. Par. Amount. Period. i 100 1,000 100 100 100 500 100 1,000 1,000 100 $748,000 M.&N. 236,000 A. & 0. 1,000,000 Q.-J. 1,000,000 F. & A. 250,000 Q.-F. 500,000 J. & J. 1,862,000 J. & J, 550,000 M.&N. 1,050,000 M.&N. 1,500,000 M.& S. 7 Apr., 1893 111 212 Oct., 1885 240 6 Aug., 1914 105 2 Aug,,1885 145 7 July, 1894 111 5 July, 1885 205 5 Nov.,1909 109 7 May, 1888 105 5 Sept.,1885 180 Date.* Bid. Ask. -- - - -4 ----Aug.,1885 250 255 116 260 110 152 113¼ 210¼ 110¼ 10519 201 l i~l:,mg 111 Mi m 113 l,~gg 12,888:888i{i.~t:1 1,000 2,000,000IJ. & J. 7 Jan,, :i..890 100 600,000 F. &A,14 Aug., 1885 1,000 250,000 M.&N. 7 May, 1893 100 800,000 ..............••....... 265 110 135 .. • ••• 113 140 DECEMBER; MISCELLANEOUS STOCKS AND BONDS. 1885.] Subscribers will confer a great Cavor by giving immediate notice oC any error discovered in these Tables. DESCRIPTION. For explanation of column headings, &c., see notes on first page of tables. . INTEREST OR DIVIDENDS. Bonds-PrinctD ate Size, or Amount - - - - - - - - - - - - - - - - - - - , p a l , 1 \ - ' l l e n Due· of Par Outstandin"' Rate per When Where Payable, and by Sto~k.s-Laat Bonds Value. ° Cent. Payable Whom. Dividend. - - - - - - - - - - - - · - - - - - - - - - - - - - -1- - - -----1------1-- --- Adam_s Express-Stock ..•...•.......... .•...•. .....••..•.... American Belt Telephone-Stock.... . . . . . • . . . . . • ••.•••..•. Amer. Tel. & Oable-Stock, guar. 5 by West. Union . .••.••... American Coal (Maryland)-Stock. American Express-Sto ck ........ ..•...••........••••....... Oanton Oompany-Stock ..•............. .................••. U• ••••••••.• •• ••••.••••• Mort~ag;e bonds, gold, sixes ........................... . .•. 1874 Oentrat New Jersey Latid-Stock .. ...................... .. . . Oentral & Soiah A meric-x n Telegraph-Stock ..........•.... Oolorado Ooal & Iron-Stock .. ............. . ............... . 1st consol. mortgage, gold . ........... . .................•.. 1880 Oonsolidation Ooal of Ma1·yland-Stock .. ........•..••..••. 1st m ortgage, consolidated, convertible........ . ....... . 1872 Oonsol'idated Gas (N.Y.J-Stock ........................... . Bonds, Municipal Gaslight Co ............................ . Bonds, Metropolitan Gaslight Co ...........•... . .......... Bonds, Harlem G3slight Co ... ............. . ............ . . Bonds, Knickerbocker Gaslight Co . ...............•..•.. . . Oumberland Ooal & lron- Stock ................. . ........ . International Ocean Telegraph-Stock ..•.......•..•••..•... Jowa R R . Land Oo.-S tock ................................ . Iron Steamboat Oompany-Stoek .....• ••..•...•..••...•..•• . ·ioo ·ioo Bonds .............. .. .......... .........................••. 1881 Lehigh cJ Wilkesbarre Ooal-Stock ....................•.... Sterling loan ..................................•............ Mortgage loans ($110,000 are 7sl .... . .................. . Cons·o1. mort. ($6,116,000 held by Cent. of N. J .. ..... . . Sundry small mortgages . . . . • . . . • . . . . . . . • . . . . . • . . . . . . .. ln<;iome bonds, r~i• (_not cumulative) ..•...••...•........ Mariposa Land & Mining-Stock .....•............•.... .... Preferred stock ..............•...........•.......•...•..... Mortga ge bonds ..............................•......•....•. $100 100 100 25 100 1614 1,000 100 100 100 1,000 100 1,000 100 June· ·i; i875 1,000 is15 100 &c. 100 100 1,000 J . American Bell Telephone Co.-See report for the year endmg ~e<;i. 31, 1884, in CHRONICLE, V. 40, p 393, 423. Nov. 16 paid an extra dividend of 2 per cent, American ,ExpreH.-No reports. American Telegraph & Cable Co.-Owns tw<? c ables between Sennon Cove, England, and D_over Bay, _Nova ~cot1a. The s~oclr of $10,000,000 was 70 per ~ent paid up, and m April .. 1882, a poolmg arrangement was made with the other cable compames for 38 years, by which this company receives 22¾ Per cent of combined revenues while both its cables are working and 1212 per cent if only one is working. which p ercentages hol,1 good for one year after any breaking of the cables; if not repair~d within that time the percentages are reduced accordin g to the time that the cables remain broken. Then this com• pany's cables were leased to Western Union for 50 years, with a guaranty of 5 per cent per annum on the stock increased to $14,000,000. American Coal.-There are mortgage bonds for $200.000. The annual report for 1884 in V. 40, p. 268, gave the following information: Income, 1884, $492,726; total expenses, $471,972; balance, $20,754. Total assets December 31, 1884-Lands and real estate at mines, $1,542,365; real estate at Jersey City, $100,710; mine improvements, $15,000; cash and demand loans, $50,241; wharf improv. at Jersey City, $5,000; personal property at mines, i31,234; personal property at wharves, $2,662; bills receivable, $-!8,876; aC'counts, $65.833 ; canal boa ts, $10,300; value of coal on hand, i!27,084; office furniture, $500; Chesapeake & Ohio Canal bonds, $-!,000; C. & P. Railroad stock, $1,000; G. C. & C. R ailroad stock. $160,000; sinking fund, $15,385 ; total, $2,080,194. (V. 40, p. 268.) Canton Company ( Balt.)-The capital stock, by changes made subsequent to the original issne, became practically ~nly $16 25 par per share, and was reduced by purchase and cancellation to ,i4,300 shares. A brief hif'tory of the company was given in V. 30, p. l l 7. The company o~ned the stock of the Union RR. Co. and$uaran _ teed its bonds but sold this stock (il':i00,000) to the Northern central RR . in April. 1882, for $594,000. 'rhe Union. RR. sinlnng fund of $689,8:35 remained the property ot' Cavton Co., but is held by the trustees till bonds have been paid off at maturity. Annual report for 1881, V. 40, p. 716. Central New Jersey Land IIDprovement.-The statement for two years ending Decern l er :.ll, 1S83, showed total receipt;; in 1982 of $91,944, and in 188:3 of $94,771. The balance sheet, December 3 I, 1883, _gave the following value of lands owned: Newark lands, $262,· 199 ; .Hergen, $565,855: Elizabeth, $16cl,95-0; Westfield, $26, :1 07; Panwood, $478,408; Plainfield, $336,326; Dunellen, $ ~a6 .04e; Somerville, $77,861; Clinton, $4,780; Bloomsbar.v, $26,3,15; Phillipsburg, $1,500; total, $2,290,582. Boads, &c., $22,084; land contracts, $10,7-1 7. Central & South Am. Teleo-1•aph.-Line from Vera Cruz, Mexico, to Lima, Peru, with branches, g, 160 miles of cable and 300 miles of ·-;:!.(I lines. Completed November, 1882. Connects at Lima with West Coas t Tel. Co. of America, having 1,700 miles of cable to Valparaiso, and at Vera Cruz with Mexican Tele.1;raph Co. Stock is $5,000,000; no bonds. Slll'plus reveuue July 15, 1885, after providing for dividend, $63,170. See annual report V. 40, p. 150. James A. Scrymser, Pres't, N. Y. (V. 40, p. 150.) Colorado Coal & Iron.-This company, with headquarters at Colorado Springs, Col., was a consolidation Dec. 13, 1879, of the Central Colorado Improvement Co., the Coloratlo Coal & Steel Works, and the Southern Colorado Coal & Iron Co. Stock is non•assessable. An abstract of the repo1·t of 1834 was in the CHRONICLE, v. 40, p. 392, showing gross earnings and net income as below stated. Earnings and expenses were as follows: STATEMENT OF EARNINGS AND EXPENSES. ,.-----1883.-·--..., ,.-•---ldS4.-----. Gross Net Gross Net Earnings. Earnings. Earnings. Earnings. Coal department ....... $1,055,837 $153,9~2 $729,331 $60,025 Ccke d epartment ... ·~.. 513,693 125,924 359,764 118,949 Iron and steel dep't .... 2,365,710 4,157 928,011 loss.63,5i:i3 Iron mines dep't.. ... . . . 139,765 39,567 447 Real estate dep't....... 40,395 22;585 27,532 10,630 Miscellat1eous. ... . . ... . 6,743 6,743 4,692 4,692 Totals.·-· ·. ·········· $4,122,145 $313,307 $2,088,900 Interest from mvestments ... .... .......•................... $131,191 6,753 Total income 1884 ........•...............•.. ·.....•.... . Less interest, discount and exchange ..............•....... Less interest on bonds ....................•..........••..... $137,9!4 9,885 209,940 $219,825 Net deficit for 1884. .... .... .... ... . .... . . .. .. ... .....•. $81,880 In the real estate department the earnings are wholly from rentals of houses, lands, &c., containing no receipts from land sales. -(V, 40, p. 392.) Consolidated Gas oC New York.-This company was organized Nov: 11, 1884, u_nd.er chapter 367, laws of New York, 1884. The com• parues merged m 1t were (the New York Gaslight, the Municipal Gas- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Mercantile 500 Adams Exprcss.-No reports; no information. Q.-M. N. Y., Company's Office. D ec 1, 1885 $12,1100,000 2 Q.-J. Boston, Compy's Office. J au. 15, 1886 3 9,602,100 Q.-M. N. Y., West. Union Tel. Dec. 1, 1885 5 14,000,000 1,500,000 2¾ M. & S. N. Y., 110 Broadway. Sept. 10, 1877 J. & J. N. Y., Company's Office. Jan. 2, 1886 3 18,000,000 719,1:375 .6.g. J. ·:s;·J. New York or London. Jaii:i';·i904 171,000 2,231,900 7 scrip. Jan .• 1875 1 4,006,600 Q.-J. Oct. 15, 1885 10,000,000 .6.g. F ..&..A. N .Y., Compa:i:J.y•s Office. Feb. l, 1900 3,499,000 1 . . . . N.Y., Co.'s Office, 71 B'y Jan. 29, 1885 10,250,000 2,467,500 6 J. & J . do do Jan. 1, 1897 Dec. 15, 1885 35,4::lO,OOO 3¾ M_-&·ir. N. Y., Com.°iiai:iy•·s Office, May 1, 1888 291 ,()00 7 Aug. 1, 1901 F. & A. do do 6 58,000 6 Nov. l, 1885 M. & N. do do 170,000 7 J. & D. do do June 1, 1898 6 687,000 A.. & O. N.Y., 19 Courtland St. Oct. 15, 1875 500,000 6 J. & J. N. Y., West. Union Tel. Jan. 1, 18-36 3,000,000 3 Boston, Treas. Office. Nov. 2, 1885 2 1,428,500 Nov. 2, 1885 2,000,000 3 J ..&..J. N. Y., Tr. Co. July 1, 1901 6 500,000 8,700,000 ··isoii" 1,811,000 6 N. Y., i.60.Broadway. 466,87!) 6&7 ·i9oo Q.:..::..M. do do 11,500,000 7 do do 673,120 5, 6&7 M ..&..N. May·i·,--i888 do do 3,472,ZOO 7 10,000,000 5,000,000 Jaii.T," ·i886 New York. 250,000 light.the Metropolitan Gaslight, the Manhattan Gaslight and the Harlem Gaslight . The total stock was $39,078,000, o.l' which $3,617.900 was reserved for working capital and for indebtedness of old companies C 1· d ti C 1 -Th ual rep.:>rt 'or 188 ! in V 40 p 268 had°It~of;ll~ii: oa • e aun 1. • , • The gross receipts from mines, railroads, r ents, 1883. 1884. &c. (incl'gvalneofst'clrof coaJonhand). were. $1,750,591 $2,222,082 Tot.expen'sofeverykiml(excl.ofint &sink.fd., but incl. steel rails & all extraordin'ry outlars). 1,514,858 1,904,603 • Net receipts ................................. .. $235,733 $317,479 The int. and sinlr. fd. in 1884 took $213,534; balance, surplus, $103,944. Consolidated mortgage bonds are held to retiee old b -mds. This company guarantees also 2d mortg. bonds of the Cumoerland & Pennsylvania, and assumes $135,00:J of the Union Mining Co.'s bond ➔ • The total bonded debt on lancts and railroads is $2,437,500. (V. 40, p. 268.) International Ocean Telegraph Co.-T lle Western Union Co. operates the line oy contract for 99 years fl'om Jan 1, 1882, paying a p er cent per year on stock. Iowa Railroad Land.-Ti:J.e total land owned was 46,629 acrea March 31, 188,1. (V. 38, p. 678.1 Iron Steamboat Co.-Property consists oE seven iron steamboats. Bonas and stoclr listed in June, 1882. Stock, $i,ooo,ooo. Gross earnings in 18-l-!-;,, $372,423.; net, $110,519. Paid interest o:.i bonds, $30,000; special d e posit with P. L. & T. Co.,$ l5,000; inves ted1n Clompany's bonds, $20,000; dividend on stock (3 per cent, Nov. '135). $00,000; total, $145,000; deficie ,cy, $34,4~6; but there was a sm•plus frnm previous year of $74,983, leaving surplus Oct. 15, 1885, $4.0~507. (V. 41, p. ,195. Lehigh &: Wllkesbar1·e Coal.-This company was organized Feb 6, 1874. It is controlled by the Central RR. of Ne w Jersey through ownership of a majority of the stock. aml the Central of New Jersey owns $6,116,0)0 of the consol. mortgage bonds ancl .i ,2,353,000 of the income bonds. Tile compan.v was in rec >:Jiver' s hflinds with Uentral of New J ersey, and in )'[a.rch, 1832. the receivee was d:s0harged and property return<:d to it, sGo ckl10lders. Mr. W. H . '~ illinghas~. President, N ew ork City. T he annual report for 188-! was m V. 40, p, 303; JJiariposa .Lan<l &: itl.ining.-There al'e ontstandin~ only 15 ,000 i;hares, the balance being owned oy company. Litigat lon 1s in progress. Maryland Coal Co.-No late ra_p()rt. The busin3ss of 1882 includ ed totalsh1p'.lle11tli o e 'J7,777 tons. The mofl.t and l iss account in 188:! was as follows: Ba.lance Jan, 1. 1882, $16,780; balanee eredit coal account, $2 L-l85-$H,666. Expenses-interest, $7,09 l; mterest on. bonds, $11,270; taxca, $7,7'U ; salaries aud expenses, $U,221; legal expenses, $501-$4-0,276; b;;1lance Jan. 1, 18b3, $1,389. Mexican Telegraph. -Galveston to Tampico and Vera Cmz; lane! line, Vera Cruz to Mexico City. Has exclusive right for 50 years for all foreign telegmms to Mexico, except telegrams to and from a neutral zone on the U, S. border 156 miles wide, between the Gulf and Pacilio Ocean. Company owns 1,362 shares of the Cent. & So. Am. Tel. Co. Rev• enues in '84, $~28,804; expenses, $69,896; divi<lends, 8 p. c., $114,752; s urplus, $14,156. Jas. A. Scrymser, Prest., N. Y. (V. 40, p. l8~.) New Central Coal (J.T.ld.)-The annual report for 1884 showed net pro tits for year of $8,85! ; and balance to credit of pro.flt and loss Dec. 31, 1884, of $280,769. <,V. 40, p. 268.) New York 1'Iutual Tele~raph.-The Mutual Union Tele 2:raph Co. was or~anized under New Yoi·k State laws. Stock was $600,000 and afterward mcreased to $10,000,000. In Feb., 1883, a lease to Western Union for 99 years was agreed to at 112 per cent yearly dividends on the stock and interest on the bonds. The organization was changed to the New York l\iutual Telegraph Company and the stock was reduced to $2, 500,000, carrying dividends of 6 per cent per annum. (V. ::J 9, p. 4.94; v. 40, p. 508.) New York & Texas Land-This company took the lands granted to the International and Houston & Great Northern ra.ilroads, about 5,000,000 acres, which were given in settlement to the holders of convertible and second mortgage bonds. Up to Dec., 1884, it was reported that abo::t 1,500,000 acres had b een sold. This woulu li:liiive auuuii 3,500,000 a cres of hnd unsold. (Vol. 40, _r:,. 241.) New York & Straitsville Coal & lron.-Has $300,000 bonds The stock admitted to New York Board April, 1880. Northwestern Telegraph.-This company owns 8,000 miles ot wire and is leased to Western Union for 99 years, with guaranteed di vidends of 4 per cent at first, rising one·eighth per cent a year to 6 in 1897 and afterward. The bond •interest i s guaranteed. Oregon Imp1·oveinent Co.-This company owns $.3,000,000 stock of the Seattle Coal & Transp. Co.; $575,000 stock of the Columbia & Puget Sound RR.; $1,969,000 stock of the Pacific Coast S. s. Co.; 170,000 acres of lands, and other real estate. Floating debt July 1, 1884, $981,000 (see balance sheet, V. 39, p. 182). For year 18 ~ 1 g-l'osa earnings were $i.!,4l4,879; net $::09,000. Foreleven monthsfro ,u Dec. 1, 1884, to Nov. 1, 1885, gross earnings were $2,647,851, agamst $3,108,991 for same time in 1883·4; net, $579,201, against ifl7Ju,5 11 in 1883-4. (V. 39, p. 48, 182, 234, 349, 436, 554, 734; V. 40, p. ~ l l. ,.J 04. 364,454,597,717,742; v. 41, p. 24, 43,161,242,331, ,120, 557, 68~.) MISCELLANEOUS STOOKS A.ND BONDS. 96 (VOL. XLI. . I Subscribers will conCer a great Cavor by giving hnrnediate notice of' any error discovered in these Tables. INTEREST OR DIVIDENDS. Bonds-Princi, DESCRIPTION. Date Size, or Am t 1---------,----------1pal,When Due For explanation of column h eadings, &c., see notes on :first of Par Outsti~g Rate per When Where Payable, and by Stocks-Last page of tables. Bonds Value. Cent. Payable Whom. Dividen1. ------------------------1 --- ---- ------1---- MtlJJ~a~-~?~-~~. -~~~~~-. ·.: ·_ ·_-_: ·. ·_:: :·.-.:: ·.:: ·: :: ::::::::: ::::::: Mexican Telegrap_h-Stock .....••............................ Sew. Oent1·al Ooal-Stock................................... . N. Y . Mutual Telegraph-Stock, guaranteed 6 per cent ... . 1st mortgage bonds, golJ, gu ar. by West. Union ....... . New York cf: 'l'exas Land r Li-mited)-Stock .... ..... . . ...... . Land scrip receivable 75 per cent for lands ........ ..... . Debentures, re,gistered ..•........•..... ...... ........ . .... New Y01·k cf: Straitsville Ooat cf: I1·on-Stock................ . Northwesle-rn Tetegraph-Stock .••..••............... ....... Bonds, interest guaranteed .......•....................... Oregon Improvement Oo.-Stock .•.......................... 1st mort., gold, sinking fund .......•...•.................. 2d mortgage for $1,200,000 ..•..••...................... 18E5 Pruific Mail Steamsnip-Stock ............ .. .. ..... ... .• •... Pennsylvania Ooal-Stock ........ . .. ..... . ... .... .... . •.. ... Postal Telegmph cf: Oable Oo.-Stock ($21,000,000) ........ . 1st mortgage (for $10,000,000) . .. ............ ........ .•.. Pullman Palace Oa1·-Stock ........ ........... . ............ . Bonds, 3d series .....•...•............•.... . ................ Bonds, 4th series ....•...................... ... ............. 1 872 Bonds, debenture ..........•......... . .•.... ...... . ..... .. . 1878 Quicksilve1· Mining-Common stock ........................ . Preferred 7 per cent stock, not cumulative ...... ........ . Railroad Equi1nnent Oo.-Stock (for $1,500,000) ... . .•..... Coupon bonds. (See remarks below.) ...•..............•.. Bt. Louis B1-idge cf: Tunnel RR.-Bridge stock, common . ... . 1st preferred stock, guar ........... .... ... ... .. . ... .. .... . 2d preferred stock, guar .••.... ... ........... ... .. ... ..... issi isso is12 $100 1,000 100 100 25 1,000 50 .... "ioo 50 ·ioo 1,000 ·ioo 50 .... "ioo 1,000 1,000 1,000 100 100 100 1,000 100 100 100 $4,400,000 161,000 1,194,000 5,000.000 2,500,000 5,000,000 1 ,500,000 2,960,800 50,000 1,-00.000 2,-00,000 1,180,000 7, 00,000 4,352,000 112 7 4 1 3 6 10 ··,r 1 2 14 7 g. 4 6 g. 8 114 4 (1) 20, 00,000 5, 00,000 7, 00,000 3, 00,000 15, 25,000 -145,000 820,000 55,000 5 ,708,700 4, 91 ,300 00,000 4,102,000 2,500,000 2,-190,000 3,000,000 ··ir 2 8 8 7 40c. 3 212 6 ··:r 112 . . . . . . . . .. .... . . •. .. ........ F. &. A. N . Y., Company's Office. New Yo:i;k, Office. .... New York. M. & N. New York, 1st Nat. Bk. .... ...... .... New.York. M'nthly J. & J. N. Y. West. Un. Tel. Co. J. & J. do do M. & 8. J , & D. N.Y., Farmers' L.&T.Co Jan. 1, 1876 Nov. 1, 1906 Aug. 11, 1885 Feb. 12, 1884 July 15, 1885 ]',fay 1, 1911 ..i90() April, 1880 J an. 1, 1886 Jan. 1, 1904 Sept. 15, 1883 D ec. 1, 1910 N. Y., "iii'B:roadway. . . • . N.Y.Am. Exch. Nat. Bk. Q.-F. N. Y ., Farm L. & T. Co. Q.-F. do do Q.-F. do do A. & o. do do Nov:16;·i885 Feb.15, 1887 Aug. 15, 1892 Oct. 15, 1888 May, 1882 Feb.26,1884 Q:~F. N, Y., Ciarir: ·pc)st & M. Nov. 1, 1885 Quar'ly do do Various. July 1, 1885 July 1, 1885 I Pacific Mail Stearnship.-The Pacific Railroads give to the steam· ship company a monthly subsidy of $85,000 per month-t his agreement terminable .on 30 days' notice after Nov., 1885. The annual report for tlscal year ending April 30, 1885, was in the CHRONICLE, V. 40, p. 650, to which reference should be made for a comprehension of the financial condition of the company, as stated in the r eport of the President, Mr. J. B. Houston. The statement for the dividend quarter ending Aug. 31, was as follows: 188-1. 188b. $1,232,487 Gross earnings .•••.... . .....•.... ...•..... .. $1,238.147 828,453 Expenses................... . . . . . . . . . . . . . • . 825,070 A.nnu l report for year ending July, 31, '85, was in. CHRONICLE, V. 41, p . 471. Income account for three years was as follows: 1882-83. 1883-84. 1884·85. · Revenue$ $. $ Earn.ings (leased lines included) ..... . 2,946,278 3,424,279 l 4 Proport·n of earnings of other assoc'ns 605,596 488,2315 ' 946 ' 151 Patent royalties, manuf. profits, &c .. 541,371 543,947 667,477 T tal revenue...................... 4,093,245 4,456,457 5,613,628 Disbiwsements- Operat' g expenses (leased lines jncl'd) 976.380 1,110,932} Maintenance of upholstery, &c.... .. . 217,634 205,455 2,657,661 of expen's, &c., oth' assoc'ns 175,702 136,556 Net.. ........... . .............. . . . . . .•. . . $413,077 $404,035 Proport'n Rentals of leased lines.................. 264,000 264,000 162,529 Cash on hand Oct. 20, 1885 ................................. . $832,346 Coup n interest on bonds............. 171.074 171,466 171,453 Estimated cash ~ov. 1, 1885 ........ . .... . . ............. ..... . 909,486 Divi<lends on capital stock ....... ..... 1,235;142 1,339,621 1,273,962 . .....•. .... .. . . 100,000 The following is a statement of the earnings and expenses for the Coutingency account.................. Profit and loss......................... . .....•. 35,733 years emling April 30, 1883, 188! and 1885: EARNINGS. Total disbursements .. . ........ .... 3 ,039,932 3,263,763 4,365,604 1883·84 . 1884-85. Net r esult . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . 1,053,313 1,192,694 1,248,024 $991,09-l $1,0 16,172 -(V. 39, p. 202,460; V. 40, p. 356,570; V. 41, p. 242, 471.) 1,790,!)27 1,848,781 Q,nicksllver Mining.-Bonds paid off July, 1879. The preferred 1,251,762 1,517,225 369,288 159,06 6 stock i , entitled to 7 p. ct. per annum, not cumulative, and any surplus goes to the common and preferred equally. A proposition in 1885 to 180.190 87,36f> 105-, 500 100,250 reti re the preferred stock with an issue of bonds was abandoned. See annual r eport for 1884-85 in V. 41, p. 132, showing net income for the 5,500 2,667 14,694 1 4,766 yeat· f $41',642; (V. 41, p. 557,) 45,666 43,853 Raih-oad' Equipment Co.-This company leases equipment to 33,278 6,047 railroads on t"he "Car Trust" plan, taking obligations of the railroad com panies runn iug not over ten years at the utmost, which eover the princiTotal.. ......................••. $4,102,764 $4,787,899 $4,820,193 pal and interest of the special seri~s of bond·s issued by the Equipment 011e1·ating expenses. ............ ... ::l,190,507 3,394,419 3,209,138 Co. nmning for similar p eriods . 'l'he title r emains in the lessor till last ·· - - - - · · - - payment is ruade, and thea vests in the purchasing railroad. In the Net earnings.................. . $ 912,257 $1.393,480 $1,617,055 mtant ime the title is h eld in trust for bond)lolders a11.d the bonds are virtu""1ly a mortgage on the rolling stock, till paid off. The following is a statement of the financial condition of the company St. Louis Bridge & Tuuuel Railroad.-The1·:1llroad and tunnel on April 30: were sold HDder the mortgage of 1873, July 1, 1878. Forec~oaure under .ASSETS. the first and e.econd. mortgages on the bridge was matl.e Dec. 20, 1878. 1883. 1884. 1885. Ou July 1, 1881, the bridge and Tunnel Railroad were lea2cd to the Mo. eotit of steamers ................... $12,382,"!5!'> $11,266,815 ~11,5 ~3,681 Padfi and Wabash St. Louis & t'acitlc for the term of their oor• Beal estate and improvements.... 1,079,5 13 1,079,513 1,079,5 13 porate charters, on the terms following, viz.: Of the stock $2,490,000 Coals. supplies, &c . .•. . . . . . . .. .. ••• ~69,774 478,301 583,611 1st preferred, by the t erms of the lease, is guaranteed 5 per cent till Jan• Sundi·y a sets. ...... . ......... ..... 264,947 1,286,98 l 613,441 uary, 18 5, and then 6 per cent; $3,000,000 2d preferred is guaranteed Profit and loss ............ . .. . . . . . . 7,198,895 7,076,209 6,529 ,596 3 per cent per annum, the first semi•annual payment being July 1, 1884. The RR. stock of $1,250,000 is guaranteed 6 per cent a year. Total.. .......................... $21,295,288 $21,187,819 $20,349,842 'I'he whole annual charge for rentals is $670,000, one•half payable by Missouri Pacific and one-half by Wabash. The common stock was held LIABILITIES. hy the London R eorganization Committee, and under the lease wa,F 1883. 1884. 1885. transferred to Mercantile Trust Company of N. Y. with power to vot Capital stock •••...•... . .....• ...... $20,000,000 $20,000,000 $20,000,000 thereon. The Tunnel R ailroad stock is guarantee d 6 per cent per an• Ban Francisco-Unpaid bills....... 2 ,926 20,166 20,843 num. In the y ear ending Dec. 31, '84, gross earningswere$•U4,444.; fixed New York-Unpaid bills.... .. . .. .. 65,396 76,793 73,248 charg?s and guar. dividends, $ · 06,577; surplus balance, $7,866. Panama RR. Co.-Loans........ . .. 1,013,528 838,944 ....... . Sterling Iron & Railway.-The property of this company, in Do. Traffic account......... 76,123 71,546 ... . . .. . Orange County N. Y., (an<l a few acres in Rockland) consists of 25,000 acres of land, with furnaces, &c., having a capacity of 15,000 tons of ~~ ·a:ri.a: ·66; 200 pig iron per year. and 812 miles of railroad. houses, &c. The company Agents' balances........... ..... ..• ·1·7··,4··6·0· ·2·5··,9··8·0· 83,363 endor es the $471,674 bonds of the Sterling Mountain RR. A . w. Due connecting steamship comp's. 12,982 Humphreys, President, 42 Pine Street, N. Y. Pas·s ag~ credits and orders....... . 25,009 36,054 19,643 Sutro Tnnnel.-Tunnel on Comstoc;;: Lode for facilitating mining Miscellaneous............ . . . . • . . ••. 10,249 64,736 7,539 opera ·ons. United Lines Telegraph.-This company was formed in Total ..•..•.....•.....•...•...•. $21,295,288 $21,187,819 $20,349,841 August. 1885, as successor to the Bankers' & Merchants' Tel., sold in -(V. 39, p. 72. 436, 707; V. 40, p. 29, 120, 304, 364, 481, 508,65 1 , 653; foreclosure July 31, 1885. See account of sale and list of property sold v. 41, p. 331, 357, 393, 473.) in CHRONICLE, V. 41, p. 122. In the SUPPLEMENT prior to sale the followaccount of the Ban.leer s' & Merchants' was given, viz.: Pennsylvania Coal.-Liabilities at a minimum, and 16 p. c. d.lve. ing "01gauized March 31. 1881, under laws of New York State. Author• pa,i.d. rizecl capital, $10,000,000. In Sept., 1883, this compa.ny ne~tiated for Postal Teleo-raph & Cable-Lines to extend from New York to the control of the ~tock of the Southern and the .American .ttapid TeleChicago, New York to Washingon, New York to Boston, Buffalo to graph. making a practical consolidation of the three lines. The Am. Pittsburg, Fostoria, Ohio, to 'I'oledo, and Chicago to St. Louis, most of Rap. Tel. Co. is bonded for $3,000,000 and stocked for $3,000,000. The which were in operation on Jan. 1 , 1884. Of the stock $7,000,000 Southern Telegraph Company is bonded for $2,500,000 and stocked for is outstanding, $12,000,000 is held in trust, and balance $5,00 ,000. The line of the Bankers' & Merchants' from New York to remains in treasury. Mr. J . W. Mackey is the President. The Philadelphia is bonded for $290,000, payable $10,000 per year. The name of the Postal Telegraph Co. was changed November, 1883. Bankers' & Merch'ts' owned a maJority of the stock of the Rapid and the (See v. 37, p. 564). The Postal Telegraph ~ompany sold all its Southern, and a majority of the Rapid bonds. The B. & M. owned 4,700 pro-perty a-nd franchises to the Postal Telegraph & Cable Co., which was shares out of the 9,200 shares outstanding of the Commercial Telegram organized under the laws of this State expressly for this purpose. Company's stock. Of the $10,000,000 of fu•st mortgage bonds of the In May, 1885, r eceivers were appointed; and a scheme for reorganiza- Bankers' & Merchants' $5,1151 000 were sold and $4,786,000 pledged as tion of the Postal Telegraph & Cable Co. was proposed, as stated in v. security for $784,874 notes or the company. In September the B. & M. 40, p. 626, 645 , by which the company will have no bonded debt and Co. failed to meet obligations, and Richard S. Newcom!Je and James G. stock for $5,000,000 only. The present bonds will t ake new stock for Smith were appointed receivers and authorized afterward to issue 35 per cent of their face, and the old stock will receive 5 per cent of its r eceiver ' certificates. In April, 1885, a foreclosure suit was begun on amount in n ew. Foreclosurn suit begun by F armers ' L. & T. Co. Nov. the $10,000,000 mortgage. Separate receivers were appointed for the Southern Telegraph and the Am. Rapid, and theSouthern made a traffic 1885. (V. 39, p. 71, 129, 4.02; V. 40, p. 626, 645,685; V. 41, p. 516.) agreemen t with the Western Union for one year, and the receiver of Pullman Palace Car.-The stock has been increased from time to the American Rapid made an agreement with Western Union for the tim to p1·ovide new capital, 1ts wanted, since the price, ruling above opera~on of its lines. The Bankers' & Merchants' was sold in foreclospar, gave bonus to stockholders when subscribing for new stock. ure July 31, 1885 (see y, 41, p. 122), and the pla,n o:C reorganiza,tion A.tlanticLine....................... Panama Line.... ..... ... ..•••..... Trans•Pacific Line............... . . Australian Line.................... Austral'n and N. Zeal. subsidies.. Cent. Am. and Mexican subsidies . . Hawaiian Government subsidy... Interest and divs. on investments. Miscellaneous...................... Exchauge ....... • •• . . . . .. . . . . . . . . . . itf!lco. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis otiiers ·(coaii: 1882·83. $799,767 1,844,462 715,732 353,200 173,980 102,8L0 5,500 17,941 27,766 61,616 -----·---------- l.}:tJg 1ri:i~~ DECEMBER, MISCELLANEOUS 1885. j STOOKS AND BOND::;. 97 Subscribers -will conCer a -great favor by giving ilninediate notice oC any error discovered in these Tables. DE5!CRIPTION. INTEREST OR DIVIDENDS. B onds-PrinotDate Size, or A.mount pal, When Due. For explanation of column headings, &c., see notes on first of Par Outstanding RaCteenpt.er When Where Payable and by Stocles-Last page of tables. Bonds Value. Payable Whom. Dividend. -----------------------------1------- St. Louis Brictge <I: Tunnel RR.-(Continiied)- lsti mortgage, new, sinkingfund ......................... . 1879 ~ e l RR. of St. Louis, stock, guar ..................... . ..... Southern <I: .Atlantic Telegrapllr-Stock (guar. 5 per cent.) .. ...... Sterling fron <I: Railway.-Stock .....................•...... isso .Mortgage bonds, income, series "B" .............. ... .... . Plain income bonds ....................................... . 1876 Sutro Tunnel--Stock ...... .............••................... ...... Mortgage (no bonds).......... . . .................. . .. .. .. . 1879 United Lines Telegraph-Stock .. .•. ..........•...•....... . 1st mortgage .. .. . ... ... ................................. . . 2d mortgage (for $3,600,000) .......................... .. . $1,000 ··25 50 500 &c. 1,000 10 ... . ·--· ··-· ...... ---· ..... I -·· $5,000,000 1,250,000 948,000 2,300,000 418,000 495,575 20,000,000 997,863 3,000,000 1,200,000 ..... 7 6 ---· ··1f is72 embraces the following points: The formation of a successor company with a capital stock of not more than $3,000,000. First mortgage by the new company on all of the property under which not more than $1,200,000 of bonds are to be issued, with interest thereon at 6 per cent. Second mortgage by the new company on all of the property under which not more than $3,600,000 of bonds are to be issued; the rnterest on these second mortgage bonds, however, is not to begin to run unt.il tne 1st of Janu.ary, 1887, and then for the first two years only at 3 per cent, for the next two years at 4 per cent, and thereafter at 5 per cent. The general mortgage bonds outstanding were to receive a new $500 bond for each $1,0uO bond, being scaled one-half. The stock to reueive one new share in exchange for four old shares. -(V. 39, p. 71, 129, 263, 295, 316, 348, 381, 482, 681, 734; V. 40, p. 53, 240, 303, 363, 423, 541, 569, 651, 685, 741, 763; v. 41, p. 22, 75, 101, 122,182,306, 330, 355, 584, 722.) I Fei New .York. Aprii ·i; °i894 :::: ·ioiia.ori: Jan ...i."i891 .... . .... m ·ioo 7,000,000 ..... 100 6,250,000 100 80,000,000 1,000 1,373,000 Real estate bonds, gold, srnking _.fund ... ..... . ........... . 1,000 Bonds, coup. or reg., conv. till may, '85, sink. fd. 1 p. ct. 1875 4,920,000 Sterling bonds, coupon (sinking fund 1 p. ct. per annum) 1875 £100&c 911,250 United States Express-Stock . ... ........................... . Wells, .Fa1·go <I: Company Express-Stock ..•..••..... .. . .. ... Western fTnion Telegraph-~to~k .. ............•............ . 7 g. A.. & O. New York and London. April 1, 1928 3 J. & J. N. Y., Drexel, M. & Co. Ju.ly 1, 1885 J an., 1886 212 A.. & 0. N.Y., West. Union '.rel. . .. ...... . I :::: ]1st coui>~;i~~:.iii1y 1,'87 3, 4, 5 1 Q.-F. New York, Office. 4 J. & J. New York, Office. 114 Q.-J. New Y~rK, Office. g. M. & N. N. Y., Umon Trust Co. M. & N. N. Y., Treasurer's Office g. M. & S. London, Morton, R.& Co z 6 Disbursements- Oct. 1, 1896 :::::::: Nov.","ii:i85 July 15, 1885 J an. 15, 1886 Ju.ly 15, 1902 July 16, 1900 March 1, 1900 1882-83. $5,199,124 426,818 40,094 1883-84. $5,5 99,179 472,350 39,991 1884-85. $4,999,325 495,072 39,992 Total disbursements .... . .. . $5,666,036 Balance of profits ......... . $1,994,314 Surplus Ju.ly 1 (begin'gof yr.) .. $1.664,240 Balance of profits for year ..... 1,994,314. $6,111,520 $498,916 $3,658,553 498,916 $5,f,34,389 $166,536 $4,157,469 166,535 For dividends . .............. ... . For interest on bonds .......... . For sinking funds ... ...•....... ---- Total nominal surplus June 30 (end of year).... . . .. .. $3,658,554 $4,157,!C9 $4,324,004 The expense!3 in detail for 1883·84 and 1884-85 are as follows : 1883-84. 1884-85. Operating and general expenses.......... $9,278,761 $8,544,554 Rentals of leased lines............. . . . . . . . . 1,842,690 1,822,543 'United States Express.-No reports. Maiutenance and reconstmction.... ...•.. 1,350,448 1, t46,871 Wells Fargo & CoDJ.pany Express ..-An increase in capital to Taxes . ............... ··········•·······••·· 301,077 301,732 1 was made in 1879. No reports. $6,250,0oO Equipment of offices and wires .. .. -•··· •·· _ _ 2_49_,5\!8 __190,_2_1_0 Western 'Union Telegraph.-On the practical consolidation with the Atlantic & Pacific in 1878 tfie Western Union had a monopoly of telegraphing business in the United States. In 1879 the American Union opposition line was started under the auspices of Mr. Jay Gou.Id. The Western Umon Co. dividedtup its surplu.s stock, making a scrip dividend of 17 ner cent to stockholders of record June 20, 1879. On Jan. 19, 1881, was dated the grand consolidation, in which the Western Union raised its stock to $80,000,000, giving par. or $15.000,000. for the stock and bonds of tbe American Union; 60 per cent for old Atlantic & Pacific stock was given in new Western Union; and a stock distribut1011 of 38 per cent to Western Union shareholders. An injunction was obtained against the stock distribution and litigation ensued, and the stock dividend was finally held to be legal by the N. Y. Court of Appeals in October, 1883. The Mutual Union Telegraph made an oppositi_on line, but in February, 1883, a lease was agreed upon. The Western Uruon also leases the American Cable, with a guarantee of 5 per cent per annum on its stock of ,14,000,vOO. The statement for the quar~er ending Dec-. 31, 1885 (partly estimated), "\'as as follows, compared with the actual figures for same quarter in 1884: ,-----Quarter ending Dec. 31 ,---1884, Actual.~ ,--1885, Estimated.----. Net revenue.............. $1,415,847 $1,250,000 Deduct-Interest on"bonds ........ $123,536 $123,768 Sinking frn:rd.... . ... . . .. . 20,000143,536 20,000- 143,768 p. ✓• • ) $1,272,311 1 ,199,834 (114 p.c.> 1,000,000 Su.rplus for the quarter ..•........ Add surplus Sept. 30 . .....• : .••. ....• $72,477 4..,159,191 $106,232 4,230,959 Su.rplus Dec. 31. ........ ·-······· $4,231,668 $4,337,191 Net income ........ ~· Less dividend, ....... '"· .. (112 $1, 106.,232 From the annual report published m the OIIRONICLE, V. 41, p, 444, the following is taken for the fiscal years ending J~e 30. The revenues, expenses and profits were as follows; 1882-83. 1883-84. 1884-85. Revenues for the year ••••..•. $19,454,903 $19,632,940 $17,706,834 Expenses (including rentals of leased lines and taxes)... . 11,794,553 13,022,504 12,005.909 Profits.................. . .•. $7,660,350 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $6,610,436 !¼!5,700,925 Total expenses ...•..................... $13,022,504 $12,005,910 The annual report for tlle year ending June 30, 1885, in the CHRONICLE v. 41, p. 444, said: "The falling ofl' iu gross revenues is due almost entirelv to great reductions of rates for the transmission of messages; for tlle volume of the traffic was greater than that of the previous year. The increase of over 20,000 messages shows a v~ry small portion of the actual iucrease of traffic, as the increased number of leased wires, over which the lessees handle their own messages, takes a very large number of messages out of the count. The receipts for, and the expenses of, handling domestic messages show that the average rate collected per message for the year was only 32 1-10 cents per message, against 3612 cents dm:ing tbe previous year, and 38 cents in the year previous to that; whilst the average cost to the company has been 24 9-10 cents per mes~age, as-ainst 25 2·10 in the prevlous year, making au averacre reduction of 4 4-10 cents per message, and a difference in the profits of 4 2-10 cents per message, which, on the volume of business handled, is equal to nearly 214 per cent on the capital stock. The 10 s of 4 4-10 cents per message as compared with the previous year maims a difference in the gross revenues of $1,852,249." The following statement shows the mileage of lines and wires, nu.mbel' of offices, and traffic of the company, for each year from June 30, 1866 to June 30, 1885 : • ,Miles of Miles of No. of Year. Poles&C'bl's. Wire. Offices. Messages. Receipts. Profits. 1865-66 . 37,380 75,686 2,250 . . . . . . . . . . . . $ . . . . . . . . . . $ .. ....•• 1866-67.. 4~,270 85,291 2,565 5,879,282 6,568,925 2,624,919 1867-68 .. 50,183 97,504 3,219 6,404,595 7,004,560 2,641,710 1868-69 .. 52,699 104,584 3,607 7,934,933 7,316,918 2,748,801 1869-70., 54,109 112,191 3,972 9,157,646 'T,138,,737 2,227,9651870-71.. 56,032 121,151 4,606 10,6'£6,077 7,637,448 2,532,661 1871-72 .. 62,033 137,190 5,237 12,444,499 8,457,095 2,790,232· 1872-73 .. 65,757 154,472 5,740 1 4,456,8:;32 9,333,018 2,757,962 1873-74 .. 71,585 175,735 6,188 16,329,256 9,262,653 2,506,920 1874-75 .. 72,833 179,496 6,565 17,153,710 9,564,574 3,229,157 1875-76 .. 73,532 183,832 7 ,072 18,729,567 10,034,983 3,399,5091876-77.. 76,955 194,323 7,500 21,158,941 9,812,352 3,140,127 1877-78 .. 81,002 206,202 8,014 23,918,894 9,861,355 3,551,542 1878-79 .. 82,987 211,566 8,534 25,070,106 10.960,6'40 4,800,440 1879-80 .. 85,645 233,534 9,077 29,215,509 12,782,8\)4 5,833,937 1880-81..110,340 327,17110,737 32,500,000 14,393,543 5,908,279 , 1881-82 .. 131,060 374,368 12,068 38,842,247 17,114,165 7,118,070 1882-83 .. 144,294 432,726 12,917 41,181,177 19,454,902 7,660,350. 1883°84 .. 145,037 450,57113,761 42,076,226 19,632,939 6,610,435 1884-85 .. 147,500 462,283 14,184 42,096,583 17,706,834 5,700,924 --(V. 39, p. 297, 408, !37, 494, 682, V. 40, p, 114, 330, 718, V. 41, p.. 307, 444, 689.) BANK, GAS, INSURANCE AND CITY RAILROAD STOOKS. 98 INSUR.ANOE STOCK LIST. BANK STOCK LIST. J CA.PITA.L. COMPA.NrnS . Surplus DIVIDENDS. at latest Mkd. thus (•) Par Amount. dates.t are not Natl. Period. 1883. 1884. Latest. COMPANIES. ---- - - - - - - ----- $ $ 100 3,000,000 1,561,000 J. & J. 10 July , '85. 4 9 100 5,000,000 1,407,500 M.&N. 7 7 Nov.,'85. 3½ 100 250,000 269, 500 J. & J. lO 10 Ju ly,'85. 5 25 1,000,000 1,454,200 J. & J. 20 20 Ju Ly, '85.10 25 300,000 272,600 J. & J. 8 Ja n., '86. 4 8 100 2,000,000 390,100 J. & J. 8 8 .fan ., ' 86. 312 100 . 300,000 177,600 J. & J . 8 s Ju ly, '84. 4 10 July, '85. 5 25 1 450,000 353,100 J. & J. 10 1001 300,000 4,421,500 Bi-m'ly. 100 100 No v.,'85.15 25 600,00') 259,100 J. & J. 7 7 July , 85. 312 City ......... 100 1,000,000 1,670,000 M.&N. 18½! 15 Nov.,'85. 5 Columbia* .. .• I 100,000 7,700 JiiIy;;g5.-·4·· Commerce .. 10015,000,000 2,904,800 i""&"i Commercial. . . . . 300,000 5,600 Continenta l. 100,1,000,000 24.6,300 i"°&"i ...8½ ·· ·si.; JiiIy,' 8 5. 31!! C ornEx <1b.". 100 1,000,000 1,003,100 F. &A. 10 10 A.u g.,'85. 5 East River. 25 250,000 131,100 J. & J. 8 Jan .• '86. 4. 712 11th Ward•. 25 100,000 64,400 J. & J. 8 July,'8 5. 4 8 Fifth ........ 100 150,000 122,300 J. & J. 6 Ju ly,'85. ~ 6 Fifth Ave* .. 100 100,000 487,000 First ........ 100 500,000 3,970,200 Q.-J. 40 40 Oc Fourth ..•... 100 3,200,000 1,115,100 J. & J. 8 8 .Ta n .,'86. 4 Fulton ..•... 30 600,000 277,400 M.&N. 7 7 No v .,'8 5. 3½ Gallatin .... 50 1,000,000 1,001,300 A. & O. 10 10 Oc t., '85. 5 Garfield .... 50 200,000 78,400 J. & J . ...6... ..6.. I Au Germ'nAm.* 75 750,000 171,400 F. &A. Germ'n Ex.* 100 200,000 233,000 Mny. 10 10 Ma y, '84.10 Germania* .. 100 200,000 '.:!58,800 1\1. & N. 8 8 Nov .,'85. 4 Greenwich*. 25 200,000 48,700 1\1. & N. 6 6 No v.,'85. 3 Hanover .... 100 1,000,000 507,100 J. & J. 7 7 Jul y,'85. 312 Home* ...... 125,000 16,400 ··-··· l····-... lm.p.&Trad. 1,500,000 2,680,300 j-:··&·i 14 14 Ju Irving ...... 50 500,000 173,100 J. & J. 8 10 Jan., '86. 4 Leather Mfr. 100 600,000 456,100 J. & J. 10 10 JulY,'85. 5 Lincoln .... 100 300,000 50,000 ..... -·-· ......... ... g}85____3½i Madis'n Sq.* 100 200,000 13,900 .................... Manhattau * 50 '2,050,000 877,000 F. & A. 8 8 Au Market ..... 100 500,000 400,400 J. & J. 8 8 Ju ly,'8n. 4 .Mechanics'. 25 2,000,000 1,257,000 J. & J. 8 8 .Tan.,'86. 4 Mech. & Tr* 25 200,000 62,800 J. & J. 6 6 Ju ly,'85. 4 Mercantile .. 100 1,000,000 334.,000 J. & J. 6 6 July,'85. 3 Merchants' . 50 2,000,000 65J,000 J. & J. 7 7 July,'85. 312 Merch. Ex.. 50 1,000,000 56,100 J. & J. 6 6 Jan.,'85. 3 Metropolis*. 100 3')0,000 230,700 J. & J. 7 7 Ju ly, '85. 31g Mt. Morris... 100 100,000 57,400 J. & J. . . . . .. 6 Jul Y,'85. 3 Murr'y Hill* 50 100,000 162,100 J. & J. 12 16 Ju ly,'85. 4 Nassau* ..... 100 500,000 95,500 M. & N. 8 8 No v .,'85. 4 New York .. 100 2,000,000 1,301,700 J. & J.l 8 llJlg July, '85. 5 N. Y. County 100 200,000 50,000 J. & J. 8 8 July,'85. 4. N. Y. N. Ex. 100 300,000 98,500 F. & A. 7 . 7 A.ug.,'85. 3 Ninth ....... 100 750,000 232,400 J. & J. 7 7 Jan.,'86. 312 Nme'th W'd· .... 100,000 1,500 .•... .. •........ •.. . N. America• 70 700,000 255,600 J. & J. 6 Ju 6 North Riv'r* 30 240,000 63,000 J. & J. Jul y,'85. 4 8 ~ Oriental* . . . 25 300,000 291.700 J. & J. 10 10 Jan, ·so. 5 Pacific* . . .. 50 422,700 238,200 Q.-F. 10 10 No v.,'8:i. 2 Park ........ 100 2,000,000 1,268,700 J. & J. 10 Ja n., '86. 4 9 People's* . . . 25 200,000 l ~3,600 J. & J. 10 10 Jan.,'86. 5 Phenix. . . . . . 20 1,000,000 241,500 J. & J. 6 6 Ju ly,'85. 3 1,000,000 117,400 ............ . . _... · - Oc t., '85. 3 Prod. Republic .... 100 l_.500,000 600,900'F. & A. 8 l 6 Au g.,"85. 3 St. Nicholas* 100 500,000 214,700 1.T. & J. 712 8 JulY,'85 4 Seaboard k •• J 00 500,000 113,200 . ... _............... i:i.::•sti... 300,000 83,700 J. & J. -- ..... -- ... 300,000 43,800 J. & J. 20 10 .Tan .• '84. 5 Shoe & L'thr l 00 500,000 227,500 J. & J. 8 8 Jan., '86. 4 Sixth ....... 100 200,000 52,100 J. & J. 8 8 July, '85. 4 BtateofN.Y* 100 800,000 350,200 M.&N. 8 8 No v.,'85. 4 Third ....... 100 1,000,000 178,600 J. & J. 7 7 ,Tan.,'85. 312 Tradesmen's 40 1,000,000 222,800 J. & J. 7 7 July, '85. 3 u. States ... 100 500,000 llti,800 ..... --·· ....... .......... ... West Side* . . 100 200,000 119,800 J. & J. ......... (1) Ja·i:i..:is5·_ ·5·· ···s.. ···s-- i.; ;~~:io·· g.:.-st( ·s·· ioo CA.PI'r.A.L. Net DIVIDENDS. Surplus, 1 I-P- a_r___ Am _ o_un_t_. 1 1._8_8_2___1_8_8_3_.t_8_8_4__..,.....L_as_t_P_a,i ___d___ {isl: - - - - - - - - - - - 1 - - - - 1 - - - - _ _ _ , _ _ _ _ _ __ America* .. . Am..Exch .. Bowery ____ Broadway .. Butch's' &Dr Cen.tral .. . .. Chase ....... Ohatham .... Chemical ... Citizens' ..•. ii;;sr,: ·.:;·· ---· ·· iy;,-s§: ·s·· $ $ 400,000 631,161 812 10 10 July, '85. 5 200,000 31.128 10 10 le July, '85. 5 300,000 252,314 20 12 12 July, '85. 6 200,000 338,060 14 14 14 Aug.,'85. 6 153,000 188,093 20 15 15 July, '85. 71,,J 300,000 30q,64.2 10 10 10 July, '85. llg 210,000 152,769 10 lO 10 A.ug.,'85. 4 70 250,000 75,616 10 10 10 July, '85. 5 100 100 1,000,000 1,535,222 14·70 15·05 15·4.0 July, '85.7·70 300,000 630,14.-9 15 15 15 Oct., '85. 7¼ 40 200,000 56,916 7 3 6 July, '85. 3 100 200,010 63,175 8½ 7 7 Aug., '85. 3½ 30 200,000 64.,954 12 12 10 July, '85. 5 50 204,000 47,017 6 5 8 July, '85. 3 l7 13 14 July, '85. 7 100 1,000,000 1,689,894 12 10 10 July, '85. 5 50 1,000,000 567,341 10 200,000 105,3-14 10 10 10 July, '85. 5 50 200,000 251,053 30 30 30 A.pr., '85. 5 25 200,000 18,618 512 none. 3 July, '85. 3 100 150,000 108,353 10 10 10 July, '85. 5 15 10 10 July, '85. 5 50 1,000,000 459,447 10 10 10 July, '85. 5 100 3,000,000 1.141,727 10 500,000 2,505 5 3 none. July, '83. 3 50 200,010 265,457 10 10 10 Sept.,'85. 30 150,000 174,786 20 20 20 July, '85.10 20 210,000 97,747 none. 6 6 July, '85. 3 40 150,000 32,531 10 10 10 July, '85. 4 50 300,000 73,505 10 10 10 July, '85. 5 50 200,000 107,078 7 6 6 Oct., '85. 2 100 250,000 25,882 10 10 10 Jan., '85. 5 51) 200,000 15,396 7 3 3 July, '85. 3 50 200,000 106,729 5 none. 5 July, '85. 4 50 200,000 54,470 10 10 10 July, '85. 5 50 200,000 186,821 14 10 10 July, '8-'>. 5 1 ~~12 200,000 56,102 10 10 9 July, '85. 4 12 July, '85. 6 210,UOO 346,053 812 11 N.Y. E~'table 35 N.Y. Fu·e.... 00 200,000 40,084. 10 4 18 Aug.,'84.. 4 500,000 331,448 14 12 10 July, '85. 5 1 350,000 87,087 8 8 8 Oct., '85. 3 200,000 33d,627 16 14 14 July, '85. 6 Pacific....... 25 200,000 63,490 12 10 10 July, '85. 5 Park . .•...... 00 150,000 203,968 16 12 12 July, '85. 6 Peter Cooper 120 200,000 67,332 10 10 10 July,' 85, 5 P eople's _.... 50 10 10 July, '85. 5 Phenix(t) . . . . 50 1,000,000 640,991 10 200,000 143,545 14. 10 11 A.ug., '85. 5 Rutgers'..... 25 200,000 121,497 7 7 7 July, '85. 31g Standartl . . . 50 500,000 6,393 none. none. none. July, '85. 2 Star ..... .•.. 00 350,vOO 8,853 none. none. 4 Aug.,'84.. 2 Sterling ..... 100 200,000 63,391 10 11 10 A.ug.,'85. 4 Stuyvesant .. 125 250,000 221,019 10 10 10 Ju1y, '85. 5 Unit'd States 25 300,000 204,353 10 10 10 Aug.,'85. 5 Westchester. 10 250,000 439,269 20 20 20 July, '05.10 W'msbg C.(t) 5 0 A.m<Jricaui.. . Amer. Exch. Bowery ..... Broa dway... Brooklyn (t). Citizens' ... t City ......... Clinton ...... Continental t Eagle ....•••• Empire City. Exchange . . . Farra gut . . . . Firemen's . . . Ger man Am. Ger mania.. . Globe ........ Greenwich.. Guardian .... Halnilton . . . Hanover . . . . Home ........ Howard ..... Jefferson_ .. t Kings Co.(t) Knick'bock' r Lafayette (t) Long I sl.(t) . t M:an:&Build. Mech'nics' (t) Mercantile . . Merchants'._ Monta uk(!). . 50 100 25 25 17 20 ~::t~JP.·.·:: ~~~f:rihvei·: ~g 1 * Over all liabilities, including re-insurance, capital and scrip. t Surplus includes scrip. (t) Brooklyn. CITY HORSE RAILROAD STOOKS .AND BONDS ExchTOO .Ta ~:~~!~.~~~li88 :r· t October 1, 1885, for National banks and September 12, 1885, for State banks. LOCAL GAS COMPANIES' STOOKS .AND BONDS. The following is a. list of the stocks and bonds of gas companies in New York and Brooklyn, with details of intere t, dividends, &c. Quotations for these will be fQund in the COMi\IERCIAL AND FINANCIAL OHRONICLE each week. Dividends a nd interest. GA.S COMPANIES, Brooklyn Gas-Li~ht .••......... Citizens' Gas-Lig t (Brooklyn) Bonds . ... . .............•. .••. Consolidated Gas_ ..•.......... Jersey City & Hoboken .•••..•. Metropolitan Bonds ..•.•••.... Hutual (N. Y.) ......... ........ Bonds . .............•......... Nassau (Brooklyn) ..•.......... Scrip ............ ···••·•••··•· People's (Brooklyn) ..•..••.. .•. Bonds, 7 per cent ..•...•...•. Bonds, 6 per cent ..•...•.. .•. Williamsburgh .. . .. . ........... Bonds .... ............. . .... .. Metropolitan (Brooklyn) ...••. Municip al Bonds . _. . . . . ....... Fulton Municipal.. ............ Bonds . . ....•................. E\uitable ...•...•.............. onds . .•..••...•.......••..•. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis [VOL. XLI. Par. ·-- Amount. Period. ·-- 25 2,000,000 Various 20 1,200,000 Various 1,000 250,000 A.. & o. 100 35430000 ...... 20 756,000 I Quar. 1,000 700,000 F. &A. 100 3,500,000 Quar. 1,000 1,50,,,000 M.&N. 25 1,000,000 Various Var's. 700,000 M.&N. 10 1,000,000 Quar. 1,000 400,000 M.&N. Var's. 100,000 a. & o. 50 l,Ou0,000 Quar. 1,000 1,000.000 A. & O. 1(\0 1,000,ooc J', & J. 1,0l.'O · 750.000 M.&N. lOtl 3,000,000 300,000 J. & J. 2,000,000 ....•. . 1,000 l,• 00,000 A.. & 0. ---- ··ioo ~ al +> Date. ~ 5 Nov, 1885 3 Jan., 1886 5 312 riec:,"1885 212 Oct., 1885 3 1902 212 Jan., 1886 3 1902 2 Jan., 1886 212 Nov., 1885 112 Dec., 1885 312 Nov., 1885 3 Oct., 1885 3 Oct., 1885 3 19 00 3 Jan., 1896 1888 312 3 Oct., 1885 6 1900 .6 .. 1900··· Dividends and interest RAILROA.DS. Par. Amount. P er10 . d. Sal - - - - - · - - - - - -•---- ---- - - - -~ I D a te • * ---Jan., 1886 Atlantic Avenue (Brooklyn).. 50 $iOO,OOO ........ 2 Bonds ............ _........... 1,000 500.000 .....• _ 15.7 1885 & '94 Bleecker St. & Fult. F.-Stock. 100 900,000 J. & J. 34. July, 1885 1st mortgage................. 1,000 700,000 J. & J. 7 July, 1900 Broadway & 7th Ave.-Stock. 100 2,100,000 Q.-J. 2 Oct,., 1885 1st mortgage................. 1,000 1,500,000 J . & D. a June,1904 '2 d mortgage................. 1,000 500,000 J. & J. 5 1914 Broadway (Brooklyn) . . . . . . . . . 100 350,000 . .• . ... 312 A.ug.,'. 1895 1st mortgage................. 1,000 250,000 . . . . . . . . 7 1889 2d mortgf!,ge ..... ·····~-····· 1,000 100.000 ........ 6 1889 Brooklyn City-Stock.......... 10 2,00 lt,000 Q.-F. 312 Nov., 1885 1st mortgage................. 1,000 800,000 J. & J. 5 Jan., 1902 Brooklyn City & Newtown . . . 100 1,000,000 . . • . . . . . 112 .... ..•...• 1st mortJpge...... ....... . .•. l,OOU 400,000 ........ 7 1-890 Brooklyn urosstown-8tock... 100 200,000 A.. & O. 4 Oct., 1885 1st mortgage bonds.......... 1,000 400,000 J. & J. 7 1888 Scrip . ........................ 1,000 200,000 ..... ... 7 Jan.&Ju.ly Bushwick A.v. (Brooklyn)-Stk 100 500,000 Q.-F. 2 Nov., 1885 1st mortgage................. 1,000 4.00,000 J. & J . 6 1902 Central Crosstown-Stock..... 100 600,000 Q.-J. 112 Oct., 1885 1st mortgage ................·. 1,000 250,000 M. & N. 6 Nov., 192.2 Cent. Park N. & E. Riv.-Stock 100 1,800,000 Q.-J. 2 Oct., 1885 Consol. mortga~e bonds . ... . 1,000 1,200,000 J. & D. 7 Dec. 1902 Christopher & 10th St.-Stock. 100 650,000 Q.-F. 112 Nov., 1885 Bonds . _...... . . . . . . . . . . . . . . . . 1,000 250,000 A.. & O. 7 1898 Coney Island & Brooklyn . . . . . 100 500,000 ........ 3 Aug., 1884 3d mortgage .... . .... _....... 1,000 75,000 J. & J". 7 1887 Consolidated .... _... . . . . . . • . 1,000 125,000 J. & .J. 5 1903 D. D. E. B. & Battery-Stock.. 100 1,200,000 Q.-F. 212 Nov., 1885 1st mortgage, consol. .....••. 500 &c 900,000 J. & D. 7 June, 1893 Scrip __........ _.......... _. 100 1,200,000 F. & A. 6 Feb,, 1914 Eighth.A.venue-Stock......... 100 1,000,000 Q.-J. 212 Oct., 1885 i;;crip .. _. _. _. _....... . . . . . . . . 100 1,000.000 F. & A. 6 1914 42d & Grand St. Ferry-Stock. 100 748,000 Q.-F. 4 Nov., 1885 1st mortgage..... .... ........ 1,000 236,000 A. & O. 7 Apr., 1893 Grand St. & .Newtown (Bk'lyn) 100 170,000 . . . . . . . 21g Jan., 1885 1st mortgage................. 1,000 175,000 F. & A. 7 1896 Roust. w. St. & Pav. F'y--Stk. 100 250,000 Q.-F. 2 Nov., 1885 1st mortgage................. 500 500,000 J. & J. 7 July, 1894 Second Avenue-Stock........ 100 1,862,000 r. & J. 5 July, 1885 1st mortgage................. 1,000 400,000 \£. & N. 5 Nov., 1910 Consol.................. . ..... 1,000 1,050,000 M. & N. 7 Nov., 1888 Sixth Avenue-Stock.......... 100 1,500,000 M. & 8. 5 Sept.,1885 1st mortgage .. ... . ........... 1,000 500,000 J. & J. 7 July, 1890 Third A.venue-Stock .......... , 100 2,000,000 Q.-F. 4 Nov.,1885 Bonds..... . ...... . ........... 1,000 2,000.000 J. & J. 7 Jan., 1890 Twenty-Third Street-Stock... 100 600,000 F. & A. 4 Aug., 1885 1st mortgage . ................ 1,000 250,000 M. & N. 7 May, 1893 • This column shoWB last dividend on stocks, and date of maturity of bonds. • RAILROAD EARNING~. MONTHLY EAR :TJ GS OF PRINCIPAL Ala ma Great !Suutbern- .Jan. Feb. $ :g ll'Iarcb. April. $ $ !U!f t~~~~~:~~~~~~~~;~~::~~::~:~~~~i(li:),::: !:t! !tm IU!l iu:~g 1 • . ... . . . . . .. .. . . . . . . . . . (296 m.J.. Atohl n To peka & !Sn.ntn. FcUldl. ...... .. ........ (1,540 tu 1,781} m.).. 1882 . . .. .... ........ (1,789 to 1,8:20 18~ (d). ... . ........ . . . .. . /2.219 l&s-l (d,) . .. . ........ t2,259 t •> 2.3i0 I. (rt) ..... . ... .. . ( &,,H5 to 2,a\16 B ■ rlin ir ton m.) .. m.) . . m.). m.J .. Cedar Rn.p. & No.- June. July . A u g. $ f $ a- . ½ ~L:::::::::::::: ·.:: ~i~ ti !b~ :t: l&s-l .. . ...... . .......... (401 to 490 m.).. 1~ .. ... . . . .. .. .. .......... (490 m.).. Che1ta pe u.ke & Ohio- ~~:g~-~ 113,702 86,241 239,3!:!5 127,397 *92,221 *88,562 78,257 98,097 108,831'! 123,1188 98,637 1,263.023 1,43f•.t2fl l,5'19,ti84 1.74'<!,06 · 1,676,075 1,308,385 1,349,312 1,5311,274 1,461,922 1,458,752 1.458,f\40 1.312,739 1,235,082 12.584, 508 14.773,304 15.1109,440 :..6,291,863 2-H,801 261,430 260,3:i7 261,lt> 299,973 221,748 300,155 307,640 281,413 349,503 202,180 278,429 308.200 974182 313,006 232,812 246,062 261,207 28S,H5 2,259,096 2.8011,680 2,846,7 71 2,796,4 59 105,767 112,524 111.011 129,005 181,513 152,590 109,7511 97,21 2 124.'<!31 14\),97i0 154,381 *85,01:l *85,965 *112,808 *142,658 *147,>H5 -100,014 157,6i8 122,1911 *123,717 101:1,699 1,209.1 09 117,441 1,392.587 118,297 1,448,258 253,R56 3.334,ll78 806.885 3,00B. 708 808,912 3,538,605, 57,98 2 61,01 l 7 ·d.34 5 7:~.90 0 70,0l.l2 :~ ~am~ m 1~g.r 230,451 ~8:~~1 1114.726 YM:~g 1~8:~t 11g:m ½8t~~t 122,760 121,1-98 HJ. 154 85.99 80.875 88,674 112.5flJ 109,731 104,t73 Total 1. 155.869 l.320,113 l 362,9113 1,5t3,r,4B 1,385,585 1,197.550 1,153,479 1.261.085 1,254,0llB 1,2 18,772 245,457 Nov. 1,000,633 1,000.640 !,117,003 1.251.fl63 1,3.!5 71 0 1,452,901 1,301,63u11,81:!1,:n9 1,181,784 1,243,901:1 1,046.125 1,183,7t>I 1,314,913 1,34H.S62 1,184,o.;o ½ ~L:::::·::::::::.:)~JUg g~8 ~:~·: ~~i:i~i ~~~:~8 J~:~i tt:~~ ti~:~~~ ~~rn~ Central lo Oct. - -$ - ·-Dec. --$ $ 68,187 73,794 92,043 Rfl,O•H 77,351 902.303 91S,4'i9 l,'203.073 1,1114.335 1,415,514 1,278.154 l,404,05tt l,301i.OOQ 1,34•;,1351,21:17,820 ~t~:~~~ ~~ti~ Sept. $ 70,326 77,793 U6 3R6 95.'<!7fl 90,523 ~:ig; ~;~t~ t=:::::::::::::::::·::.\~tit~~i~t: m:~~ J~ag1 ~Y~:m 1~ .. . . .........•.... lllaB t o 990 m.J. . 223,7111 202,537 272,369 RAILROADS. - - - - - --- --- 82,8,H 9i ,303 558,481 1,055,909 1,03:-l.534 l,167,0.W 1,064.74!:! $ 51,731 54,496 72,225 79.7411 08,011 1~1:~~f 7!3,268 l,076.790 1.065.704 1,17ll,,H8 l,ll5,693 Mn.y. 99 1 6 9 0 224,381 1~~:~~ 209.112 224.020 232.522 2lfl,59U 225,824 g 4 lsJ::::::::::: ..'.'.'.'·:.: .<~.~~ .~~(gg~ :1: ~in~i ~i:~ii m:;ii ~iJ:igi m:Y~~ iiu1~ ~g:i8 ' 1~ :::.:::·::::·::::::::::·::::l~8!:.L ~9g:m ~~g;m ~;~~~ ~8S:e6~ ~~:m ~i:~~~ ~;8;~148 ...... $ 86,897 789,372 H4,779 8fifl,724 108,1:!!!5 1,071,829 149,070 1, 165,1 02 ...... . .. ...... •• · · ...... ...... .... .... 7 381,,i.54 881,746 3-IH.1~7 29.J,198 332,219 365.474 30!3,103 3011,()97 351,310 875,815 270,181 307,436 300.732 315.306 2i6,079 ..... . ... 51,686 :~:~~ ~~:i4~ g~:it~ ii:~ti ~:g1~ gg:g~~ ~!:~g60 55,641 48,68:.! 53,307 55,b88 49,929 52,761 58,05 5i,264 75,831 83,172 tl2,9J2 57,852 76,934 76,252 72,519 58,289 70,695 6!'!,574 70,1132 61,188 58,051 71,228 47,000 51.530 65,584 529,8 U> 718,1 OS 762,627 l=:::::.::::::::::::::.<~~.~~cti:t: i~~:~& t7~:~J7 ~:fJ~ g~:igg ~:g~~ i1~:~iy ~i-.~~s lt L:.:::::::·.:::·.:·:.:::::j~!~ :L ~~:tg g~J:~ ~~:8~i is~:~i1 !~~:m ~~:8~~ ~~h:~~4 6-16,837 537,:321 680,850 591,637 591,091 591,'200 ..S68,893 760,751 R5fl,398 886.55fl 851,,904 72e,oo3 774,700 771,844 912.BH2 R58.674 1134,945 901.619 9111,964 8.➔9,037 755,82tl *745,5J5 1172.380 7,19,9lr 801,187 753.857 •732,982 646,812 70),066 749,220 692,712 7,557,741 8,215.4 95 8.810,61,0 8,i09,ll7f> Elizabet • Lex. & Big ~ao<ly- i~:::::·::::::::::::::::::J½HEt Cb~.gq.. . ..Ait«>n-· ........ .(181! m.).. 28,710 26,751 31,4lfl 86,240 38,951 87,40-J :i ~ 1&!5 . .• .. ............. . .......• (~9 m.).. ....... ..... ...... .. .. .... .... Oblc aao Bu 1•lington & Quincy_ 181:11 .. ..... ...... (2,772to 2,921 m.). l,30'i ,948 1,034,821 1,41"!,1491,574,371 1,670,4:>6 .'a,083,802 1,888.35~ 2,l7El,945 .'a,262,981 2,031,001 1.81fl,133 1,905,4110 21,176.4M I~L: .. ::::·.-.-.-.-:rn:g~itgi:~~:t: i:~:~ tm:g3t agg:~ t~:m t88S:~~ a~aro a~t~r 2,0811,8:IB 2. 186,400 2.270,444 2,199,421 2,027,060 21.550,804 5 2,495. 124,2,001),165 2,742,480 2,562,773 2,170,9 1>l 26,110,3AA l SSi .... .. .. ......... (3,322 to3,467 m.) .. 1.fl4a,2~0 1,971.018 2,106,028 1,~2,451 1.981,127 2,077,182 1,735,HIg 2,447,495 12.707, 110 2,tlH3.51"7 2,238,891 2,060,299 25,4t3,612 1 .•• ..•... .... . • t3,467 to m.J. 1,9112,484 1,t101,u15 2,639, no_ 2,065,070 2,0:31,904 1,992,485 1,812,ti34 2,858,~ . ..... . ... Chlcaco & En.stern lllinois- 1. . . .. .............. (220 to 230 m.). 1 ...... 2.224,so,r•.o.os, i23,821 145.464 138.86t 125,425 127,034 114.927 127,212 112.261:1 1 107,4fl71 lOJ,252 121.687 13t>,S:n 139.583 lll.048 146,7261 144,879 122,430 159,196 150,915 156,857 13.l,601 151,763 170,&lO 172,!d5 1711,305 144,143 120,693 158,061 158;t2tl 145,u2l 123,577 128,802 150.514 15~,874 15(i,577 116,812 "112,70 7 *146,499 *165,508 *174,215 134.070 t~S.881 123.769 10~.547 116,0156 119,263 1411,779 128,379 112,309 12tl,510 990.848 l,434,5a7 1,350,Hl~l 1,467,097 t,517,3i}8 1182,il8 916,989 1,259,Wfl t,376.8771,561,38611,517,569 l,25i,04t\12,243,730 1.~J72,271 1,317,CM 1,,88,726 1,9i8,636 1,345,41!6 2,081,07l ll,927,264 1,538.491 1,627.933 2,03~,514 l,98.:.,768 l,875,:.l30 1,729,812 1,568.70fl 1,619,431 11,4114,927 2,023,161 l,820.g...:'i 1,019,902 l,U49,o45 1,865,fi00 1,8114,000 1,678.361 1,545,198 1,851,209 1,825,34-. 1,707,000 l,644,670 1,9ci0,7LO 2.220.684 2,201,241 2,273,0UO 1,591,053 2,250,975 2,531,128 2,539,71111 ll,892,000 1,569.598 2,072,9i 8 2,387,662 2,808,877 2,638,000 1,854.269 l'i,025.4 61 1,964,7011 20.SR6,725 2,150,918 23,1150,8 22 998 2,21_•·~"81"'·".~·-. 1,240,667 1,644.936 1,357,1122 1,502,418 l,512,680 933,205 1,474,176 1,311,395 1,501.100 1,4711,803 1,879,006 2,306,440 11,98,<J.OS1 2, 110Jl47 t,043.51fl j2,0511.0,.",i 2. 157,206 2,218,021 2. 160,631 ll,07li 820 1998,275 1,976,177 1,932,7c61,99r,tl~9 2,036,80S 2,315,164 'a,211,622 ·<!,403.45il 2.027,9:l2 1,922,235 2,292,676 ·2,558,041 2,647,H68 2,34tl,914 2,51:i2,32J. i,341,097 g,flOl,445 2,793,991 2,523,843 2,8i8,¼69 2,019,037 2,109,432 2,36tl,542 1,99B,509 2,262,WO 1.R55,476 1,826,929 1,760,55/'i 1,951,746 21,849,2 07 23,977,fl RS 25,024,0 62 28,491,891:! 257,785 327,478 30 ,465 350,283 331 ,4.52 158,595 33-l,4d9 283,601 331,453 307,043 251,649 413,236 43 ,521 463,U52 458,824 182,458 165.552 (336 m.) • 190.923 185, i2u lt:IH,230 201,6-17 l&:H ...... .. .......... (551 to 1,062 m.).. 1882 .. . .. .. . ........ (1,066tol,160m.) .. 1888 .. ... .. . ....... (1,815 to 1,679 m.). 807,476 516,128 463,762 l 2 . .. ... ............. (230 to 240 m.).. 1883 .. .. ... . .......... (240 to 251 m.) . 1 .. . ........................ (251 m.J.. 1 .. ............... . . .. .. ... (:.!51 m.).. Chicairo J lll wn.rl· J & !St. Paul .l~l. .. . • ... . ...... l3,775 to 8,951 m.).. 1882 . ...... .. ........ (4,104 to 4,520 m.) . . 188a . ... .. .. . ........ (4.52u to '1,760 m.) . . 188i .... .. .. ......... (4.7li0 to 4,t.;04 m.) .. 1885 . . .•• .. .. ....... . (4,804 to 4,1:134 m.). Cblcairo & 01·tbwcste1·nl 8-"ll . .•• ... . ...... •\~,77H to 8 .018 m.) .. 1882 ... .. . .. . . ... , ... (8. 100 to 8,476 m.) .. 1883 . . .. . . ......... (3,580 to 3,7tll .n.) .. 188t .. . . ...... ....... (3,761 to 8.843 m.1 . . 1 .. . .. . . . . . .............. (3,8-13 m.J .. Chic . !St. Paul Mhm. & Omabn.18-..,1 .. ... . .............. l046 t-o !k\5 m.).. 1 a.. .... ... ........ (1,003 tu 1,147 m.).. 1883... . . ... . . ...•. (1,150 to 1,280 m.). l l:lS-i ... .. ... .... .... (1,307to 1,325m.) .. l &i5 .... ................... (1,825 m.J.. In. Ind. !St. Louis & Cbicn.go1881 (300 to 0 42 m) 1 ff. :.:~:.:~. .:;.~.·:.·:.·:.·!.!.;.~.:.:.;.·~.:.:..··:·:·:..:... . . .?~ ~ 2 (~(~34- mmmm··:.5~ ..·. ·.:. ~1 locinnati . O. & Texu:s Pac.- U~h2 (336 m) l ~ f . •: .: :..: ·.: .:. :_.: .: ·. : :. :. .· :. :. :..•· .·• :. :. :. :. :. :. :. (< 33• ~ mm.:)1:_.• l oo-a 83u !,~er·&·Rio Gran.de.:..:· 1,17~.796 1,474,612 1,672,93 !1 1,66-l,741 'J.OIJ5,292 1,754,871) l,7fl6.940 1,822,165 1,1:186,5421,770,829 I 376,897 42.!,718 495,020 4.69,130 476,635 373,370 52-.l.200 523.49~ 527,8iH . tlOl,398 379,029 548,052 673,880 642,460 700,382 392.921 515,008 583,185 540,959 *o00,600 432,615 3fl4,94fl ~2,987 441,UJO 4,021, 961 4.962,200 5.515, 285 f>,7131,9 32 192,16! 184,923 186,735 212,299 177,lf\1 8 237,284 237.496 246,517 244,117 200,850 228,653 265.641 249,886 250,08,'< 219,256 221,820 249,44'~ 249,507 241,l4fi 220,266 211,014 223,303 211,264 19fl.313 *194.365 215.809 190.564 J'i7,395 203,093 2,415,872 2,576,1 03 2,41-12,824 2,434,'i80 188,798 154, 127 164,371 19tl,Ol:ld 199,567 227 4 75 233,27.'l 222,2 J21 180,112 173, 116 2ltl, 2 19-1,00t .!0!<,210 20s, 208 221,937 187,246 188,835 208,826 212,051 20tl,8tlil 223,168 22~,3a8 226,70 2 222,929 228,334 241,138 23fl,4,'>1 238,184 · 248,241 230,7.:!7 242;;97 241.2.!5 240,884 260.833 242,38) 257,163 242,827 2fl4,425 231,136 252,670 317,683 395,293 457,535 398,4931 433.lll 516,316 550,280 548,580 51111,531 5L4.76i 593,92-J fl26,018 581,229 545,444 fl78,781 !'>48,28 1 523,J65 709,82 5 606.198 578,443 699,f\03 476,35ft 5B.!,734 62D.643 590,191 6613,66'1 521,957 5tl8,Bll4 fl65,687 642,213 720,445 567.285 626,363 r.66.829 495,7611 685,858 462.459 *585,961 681,385 448,816 557,939 *413,924 6,404. 98(1 7.861,.M1' h5,544, 669 23.56 7 25.22 7 0 28.~ 36,795 34,45·~ 27,78-1 31,293 40,102 41,882 40,695 81,595 87,57l 34,R59 42,025 32,002 34.117 83,784 38.305 28,410 81,716 20,435 347,1 6Q 841,935 354,03S 243,525 289,287 8112,564 81:.l,7.!3 3.!8,496 320,358 394,434 869,811 879,424 386,216 455,593 41-&,289 411,31;() 360,736 409,665 380,180 m:~~ ½~:gJ~ ~~~:l~ im:m ~gg:~8 ½e,~:i~ i~~:8~ ~ig~53i 9 Mg:m m:~ ~~g~ b;~~~ i8~:l~g I }=.:::::::·:::::::::::::::::::rtt::J. ~i:~t 35,375 28,920 1882 . .. ..... . ......... . ....... (902 m.,.. 254,602 234,764 427,885 131,503 167.548 3tl,89-4 119,681 163,S.-IB 143,850 1211,572 25.501 23 826 30:109 21,-!&J 101,125 17'1,034 1 26,582 22,198 24,-1{9 i0,c,71 91,012 150,186 1 l 1 ... .. ... ..... ............. (818 m.).. I I ....... ...... . ..... (818 to 847 m.).. 18"8 .... ............... (347to36Lm.) .. .:::::::::::::::::::::::::::<~½ :t: Bay Winona & !St. Pan l- ½ r 1,-. .... ..... . ......... (219to225 m.t.. (225 m ) (225 m:>:: .&i siiii..t'ii.. F~~5m.).. •• . . . . ........... (373to482m.) .. ..... .. .. ...... . .... (482 to 53! m ).. t:M::::: :: :::: :: ::::::::: :::::: ar·coio1:aiio ~mg ~~~:~!; ~~i:g~~ ½~:m mu~ ½t;~t 25.(U7 23,183 24,790 20,044 21,380 22.669 248,476 220,380 324,400 158,161 1911,814 276,09 · 171,400 188.569 ~rnT 210,995 27tl,335 162,5:.lO 175,ll3 274,476 160,058 160,240 35,666 89, lot 31,578 31,292 31\0H2 30,228 30,289 85,6~9 28,780 81.007 148,406 1 66.606 132,203 76,639 151,7/lO 80,365 34,172 21,631 so,160 89,555 144,067 ~~:~~ t:~t~ ~:m !~'N&\ ~it:m 240,1176 ed Llues in Iowa- m:m 1gg:~A~ ~::::: :: : ;:::::::: ::..(5«·ii}~ ::L ~~t~ m:~~ 1 ••••• • •••••• .. ············~!8~ :·~.. ~~:m ~fkZr7 298.824 137,51 4 152,951 153,482 166,380 148,503 166,157 lrl7,446 199,067 204.863 257,779 ~~~:~i~ ~~~:~~ ½~~:~,37 203.R05 l74,3i8 172.199 138,007 158,108 *161:1,454 •173,000 *157,721 •151,47 0 *155,758 •167,626 *L78,735 m:m ~i:~ a Bloom . & We1tte1·n- .. .. ....................... (684 m.l.. (684. and 532 m.).. 248,142 198,685 198,03tl ...... 182,96;) 212,50 i 185,271 211,165 217,023 241,771 235,908 226.715 lfl0,65tt *240,409 ~8~:~~~ :gg:m ~gg:rJ rn~:t~ ~~:i~ • •• ~..... ~~~~ ~~.~~~n~.(330m.) .. ... .. ..... ... . . ........ . ... (330 m.).. ...... . ... .... . .......... (330 m.).. ...... . .... .... . . . .......... (330 m.).. 97.616 103,000 ll2.~1 101,147 Na s hville- 876,192 1,043,919. ...... . .. ...... (2,028 to 2,v65 m.) .. 1,118,735 l,014,81.17 l, 14 l.387 1147,-l50 1,062,348 1,090,706 1, 12.J., 776 l,25 1,127 .. ....... .............. (2,065 m.) .. .1,(lH9,317 1,015,431 l, 187,73.~ 1,125,291 1,156,109 1,032,359 1,060, lh4 1,11 7,3 13 • . . ••.. .•. ....... (2,065to2,015m.) .. l,170,7491,083,3081•·281,5161,158,69.1 11,102,H4 l,088,1721,057,33~ 1,077,4.87 951.566 1,114,518 1.334,1711 1,145,3fl6 1,146,978 ' 80,565 101,903 114,fl63 95,824 84,474 101,882 110,884 105,195 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 101,115 118,344 111,010 Hl,366 lfl9,0-18 20i,603 210,842 18-!,867 178,76d 272,114 247,932 292,177 288,253 202,911 2/18,801 215,913 234,15l 217,574 217,618 319,718 292,9115 212,83l f 193,2221! 168,111 f 173,085 f 173,671 f 173, l88 !228,8'".1 f 245,220 f 190,713/ 227,0.Sl.f 169,692 f 160,60t> f 167,544 f 167,665 f 242,800 !24-2,461 f ·b:::::::::::::.:?:~.~~(~:&~::t ~t~~ viii 82,964 101,"~tO 111,925 109,252 71,187 80,761 100,557 98,994 74,007 65,741 hB,888 78,534 101,0'<!3 117,+35 78,844/' 81, · 1 ······ 748.805 930,165 988,912 1,059,467 1,037,39~ s:37.uti l 922.833 1138,885 1,106,852 1.101,1129 772,79 2 92tt,622 1,045,902 t.lRfl,468 1,119,610 701,233 837,443 916,065 1,078,544 1,091!,074 723,00 7 8-10,&91 93-!,229 1,112,719 *1,0U,000 182,43~ 193,l'iO 201.906 166,626 te7,288 68,811 8~,0:59 105,471 83,816 164,6 78 l7ti,333 201,930 15~,169 •155,100 228,677 200,451 2til,140 264,735 270,941 235 972 224,500 f 185:046 227,116 f ~07,8fl7 1,002,050 1,065,2~ 1,215.932 1,200,9()2 1,504,465 1,~7.394 l,29L,714 1,109,59'\ 1,262,340 *1,111,255 120,763 139,183 126,245 133,795 ... , 341,342 8.851, 874,945 4,144, 376,803 8,993,6 398,3 410,fl 822,6 141,192 184,956 131.652 150,963 196,372 lfl0,531 16fJ,472 129,480 120,349 .... . ... 87,978 36,127 26,705 107,99 t 163,452 126,482 189,430 17l,685 140,052 154.678 127.71~ 134,110 ...... .... f\,244.'i 80 .... 44,323 47,831 211,5,17 174,606 148, 18e 166.305 130,640 136,788 ..... cl,885,4 c2.1115.2 c2,542,9 2,252,11 89,001 46,112 80,2111 3tl,006 ½~:i~~ i:~:ggg . ... 2M,814 2,567,1 35 234,687 2,5fJfl.1 95 2all.080 2,65 ,1 85 . ... .. 34,881 33,026 21,581 81,76! -.~i:&1½ ...... .... 170,815 206,170 l!Xi,665 171,844 30,697 81,025 20,3.29 I ggg:i?: 1.~:i~ ~g:~i g~:I:8 a~:~~g 1,~u:ig~ • .... .. . .. . . . . • .... .... . ........ (tl84 and 532 m.).. ...... ...... 172,G69 203,442 234,617 158,315 •175,541 26,79 2 25,47II 22,468 m:i~ t=::)~~:~)~.:.:.:.:i.:.:.:~)A!:f !!tm iiHli m:iH i!U&i i5:iii I -~~:~8 ~~:i~i ~::~ ~.-::::::.:·:::::::::::ciiaii·i/ggg::L ~ji1 ~i:~8~ ~!:~l~ !lg;:~~ .}g~:~~ •l~lg~~ nt.- 111 . L iue & S o. Div. 765,294 867,675 748,004 708,:302 1::::::: :::::: :: ::: :: ::: :::H:!~ ::L ~i:~~~ ~t~g~ ~:~~& m:~~ 748,803 762,403 ::::.:::::::.-.-.-.-.~uiit~ tg~: ::L ~1g:m ti::~i ~::g~ ~~~:~Jg 7/'18,809 727,059 . .... . ... . ............... (1,6tltl m.).. 915,957 861:!,715 9,4,800 789,766 822,885 7f:S4,607 1 . ... 383,202 859,459 444,383 400,76() 472,92 9 32.072 21,573 ½~ ............. . . . . . . . ..-:·.~~~~.~:d:gi ::L li:·.-·Pere·il1a·r;iu.eii.~'l23m.) . ...... .... 404.562 874,694 442,~78 40fl,514 470,508 82,825 20,018 a1tt Tcnu. Vn.. & Gn..- .... .. 1,638.594 1.784. 09~ 1,659,257 1,546,111> 350, l:?5 402,882 449.584 513,340 47S,152 :·:::::::::::::::·:::::::S.ibl ::J:: :~~8:~t =~tui~·:g~t~ri =~:rJ: :m:~1g ·~tkm e1t , loloes & Fort Dodge- 1 2 ....... ............ (87 to 138 m.). 1 ........ ........... . (138to 143 m .) • 158,113 l39,4f.>8 140.040 132,985 261.211 377,288 420,339 567,11118 464,892 11 {~ 137,473 161.704 140,008 135.400 *159,671 136,189 154,207 142,185 ······ ...... ..... .... . ... 22k,797 1,619,R l87.6l4 2,llfl,6 142,048 1,727,5 ...... 1,030.87e l,174,R09 1,021,574 1,051:1,505 ...... 1'«1,889 156.880 158,754 150,M.l ······ . ... 10,77:i,1 10.806,7 11,o.<JII, 10,47~,4 . ... 1,852,4 1,P45,5. 2.025,1 1,712,3 .... 192,622 2,487. 569 208,577 2.740.2i27 202,812 2,927,53lJ ...... ······ l,15.'J,779 1,221.509 1,272,924 1,292,1:t? ...... . ... .... 11,344,Sfllt 12.0Al.432' 14.,170.2411 13,6tl2,461> .... 146,448 1,120, 150,74U 1,2119.4 174,633 1,428, ...... .... MONTHLY EARNINGS OF PRINCIPAL RAILROADS-(Conclude<l}• .!_~~ __!!~ :tln.rcb. A p1•il. 1881. •......•.... . ..... . (250 to 276 m.) . . 1882 ...•......... . ..• . .. (27tSto326m.).. 1888 ..•••..•............ (321Ho 874 m.).. 1884 ........•• · •· · ·· ... (385 to 48U m.).. & L~~:~534 m.).. $ 8\J,078 66,l.>71 61,lh!8 7'3.2H 7'J,tS05 $ 81,392 65.437 63,485 78.368 72,750 36,75;i 77,606 79,851 lC0.357 103,060 1882 ...•.......•......•........ (354 m.).. 1888 ...•..............•.. . ...... (354 m.).. 118,427 83,459 110,195 107,548 ll6,31ll lttll,151 !lln..!.:__ Jun~~•.!.:__~!:_ _S e ! ~ ~ ~ $ $ $ $ $ , 48.1189 52,202 52,065 5U.!lS1 6H.906 73,397 f\7,610 75,i'i12 73.166 75.170 85.585 86,708 93,297 91,047 88,239 100,5'45 ~8.249 l 12,524 95,1134 90,5-lS 96,898 96.031 99,208 103,837 95,9~0 99,065 ll2,!ll8 131,305 144,805 158,026 100,6Hl 104,30i 129,875 119,527 122,893 138,412 173,710 185.~8 141-l,429 152,753 no.on rn!J.'201 1·io,2.:9 151.576 M ilwaukee Lake 8 . & West.- 1~::m ½t:grn m:~iA m:~ m:~ ½~?:~~i rn~:~~~ m:ii~ g~:m 142,8~ 145,91 216,767 158.590 168,24.5 1fll,28i 164,494 230,9lt' 148,167 184.845 185,275 190,956 163,550 141.957 129.108 167,790 l::!d.4:.!8 145,SJ3 134.878 141,976 !.42,774 l~,tS53 J36.517 188.184 128.72i 140,088 108.785 135.548 135,174 134,464 129,323 110.470 lll0,789 187.475 156,584 143,t\06 124.535 210,26'2 157.875 185,002 160,6119 J59,790 256,924 267.433 256.271 212,409 225,878 262,986 801.054 280.062 253,332 *235,402 251'!,812 306.4-;2 289.24fl 2 j4,637 189,479 203.102 220,823 170.753 174,974 177,386 197,388 195,262 206,164 186.1-102 210,495 206,819 1s-1,986 174.9m 186,737 l,443,437 l.425,765 1.847.261 1.818.997 1,l:!04.7581.567,633 1,52-t.869 1,283,616 1,696.961} 1,567,2111,4116,::1941,495,541 1,315,413 1,371,624 1,568,523 195,655 167,393 161,435 188,167 16iJ,S81 1,709,057 1,670,743 1,548,474 1.727,434 1,46\l,012 177,209 154,i63 171,07J 190.7.:il 167.495 1,776.891 1,681.798 2.055,1188 l,615,8tH 1,481,014 166,1\90 186.704 170,1-161 161,9:ii 141,100 1.794,982 1,756,684 2,057,54.7 l,569,56d l,451,ll33 166,203 l>ltl.495 195.4fl8 187,475 t65,667 l.7d7.0~l 1,850,260 2,111,4513 L,784,6:i9 l,5fll,722 18F.,3W 196,098 189,7~7 190.196 2U!.65R 11}7,799 2lx,190 210.586 182.110 192,865 l.772.895 1.734.200 1,843,1441,880,214 2.580,956 2.613,134 l,861,:.ll4 2,104,:375 1,737,458 1,885,664 188,935 201,7l2 201.320 203,737 101,046 1,814,866 l.819,010 2.411,146 1,867,857 1,1180,648 169,033 202,6e8 205.660 196,001 181,488 187,679 210.676 209,llOU 197,512 1,715,469 1,818.824 2.180,982 1,703,838 1,571,208 1,691,404 1,823,568 1,570,385 ½~::::::::::::::::::::::::::::rn~~:L: m:~: 1881. ..•..•....... . ..........•.. (506 m.).. 1882 ........................... (528 m.).. 1888 ...•...................... (528 m.).. 1884 •.•••.• . •..•.•.•.........••. (528 m.).. 1885 ...............•........... (528 m.).. 224,346 159,67fl 216,212 179,\!28 201,681 N~~Yoi·ii·Lak«,Ei•ii,&\f~~t~_l·· 1881. •... . . ..... . ... (l,u09 to 1,020 m.) .. 1882 ............ . ... (1,020to 1,060 m.) .. 1888 / ......•.•..• . . . (1,060 to 1,620 m.) .. 188! / ................... . .. (l,tS22 m ) .. 1885 / · ..................... . (1.622 m.) .. Nfss1..~~~.~.~~~.~(:f1~n.~ (~ 66,6Alt 68r>.8l9 82,"50 (18t1.819 75-5~ 1. 87,~ 1,114,816 .. . • ••• . . • •••. l'Zl,6'4 m.).. 1882...... . .......... . ...... (384 m.).. 1883 . .... . ........ . .... . ....... (384 m.).. 188-t ...•......••.............. (384 m.) .. . .... ; ........ (384 m.).. 1885 . . .•• .... 189,749 2Ul,H40 245,681 243.047 230,420 173,614 21i,26l 237,711 252.603 226,096 212,0lll 265,222 296,311 259,471 263,934 216,913 261,044 275,891 275,507 262,102 217,185 281-J.'7'.32 303.035 273,702 260,305 231,518 285,392 80/l,600 283,531 271,057 246.820 298,441 320.151 276,217 295,967 280,524 346,490 391.825 300,794 327,248 299.579 883.347 85'3.5il 281,638 351.611 261,200 804,592 365,877 806,734 339,IJ65 240.764 277,061 310,092 254.420 240,064 251,182 2lJ,422 239,050 1~2 ... .•....... . ........ (88 to 144 m.).. 1888 ............•.......•...... (144 m.).. 1884 ...................•...• •. (144 m.).. ····· ····<144 m.). . 43,827 6S,101 64.055 70,665 41,952 66,13117 64,140 68,505 51,219 76,974 71,7(14 91.09; 52,152 78,511 8:.!,278 9l!,331 57.885 87.054 86,7ol 85,21).J, 61,673 88.152 82,9i0 90,222 68,022 89,181l Q7,017 100,696 70,730 ~os,6·,7 105,828 101,353 65,801 1!0,685 95,41.7 105,8'i4 71,373 94,042 99,0.)9 .105,087 71,32~ 8fl.782 97.275 67,522 73.831 87,686 1881. ............. .. ..........•. (428m.i.. 1882 .. .............. .. ... ... .. . (428 m. . . 1883 ..•................• (428to· 502m.. 1~4 ..••..•...•..•............ (502 m.).. N~~ieru·Centr·o.i:._········ (502 m.).. 164,917 168,57:.! 200.487 213.020 230,350 153,633 149.65~ 191,844 225.357 196,281 195,650 174,769 217.834 210,2U8 219,821 174,438 171.793 JOO,IJ96 211,522 206,484 149,603 185,822 2fl5,663 202,48G 192,827 156.889 174,843 203,810 183,Rl:S9 191,707 173.974 191,635 219,188 l.85,R2-! tl0,267 196.122 222.160 261,711 228,408 250,4!)4 221.438 232,774 287,201 270,010 2ti7,874 246,530 272.318 831,210 28~,41J5 285,965 228,91}5 261,235 271.2i9 2l4,81-l •247,61!2 205,6W 224.758 232,752 247,035 386.150 382.657 407,3~1 413.551 452,908 414,789 487,273 420,490 485.~ 465,694 4.R7.287 465,8 t{J 440.811 484.534 4YS,008 1125.970 429.5u5 5.57.558 4411.664 527,714 487.160 526.685 476,fl2.'3 400,003 'ew York Susq. & Wt•st.- N~':;.5Poik&Wesi:.:.:.- 1881. ....••....•...........••.. (822 m.).. 1882•.•• . ........ ...• .........•. (322 m.).. i~·.:::·.-.-.-.:_-.-.-.-.-.-.:·:::::::·:J~::t: ~~:~~ t~~:~ ~~:~ 401.216 3811,049 4':!8,360 ~~:~:s m:~~ irn:~t :rg~t ~1i:m ~~g:m g~:~ig 450,010 454,917 416,219 411,723 451,370 504,754 584,011 1881. .•................. (722 to 972 m.).. 1882 .• .....••..• .. ..•.. (97::l to 1,419 m.) .. 116,508 ~45,36" 'iS,808 ~8,935 162,984 373.141 216.210 451.023 812,705 616.231 412.024 704,•!17 893,252 6~4,01\7 434,085 727,215 506,032 772.838 570.724 824,769 475.tHJ 751,638 55,395 47,99:3 57,354 55,532 65,423 59,710 60.742 51,J,791 67,569 68,175 62,5:15 53,438 58.415 58,081 59. lS8 50,509 53,086 48,297 61,881 47,915 78,698 47,549 54. 783 53,7.J9 82,176 78.384. 81,262 81,0l5 6q,105 73,659 62,415 66,,45 69,522 *67,021 56,095 61,835 57,139 N1~1iei•u·.P·acifi·~.:.:··· ··· ... (328 m.).. ~~~:~t '1' tal. I i l6'i,745 168,522 160 1 • Mobile & Ohio- 188l. ••.••....... . ....... (508 to 539 m.).. 1882 . .. •..... . . . ... .. .... (539 to 550 m.) . 1888 ..•.•...................... (550 m.).. 1884 ............ ............... (580m.) . . i 64,654 80,905 108.943 {}5,215 130,635 iJ~:apoiis ·s·i: Nash vi lle Chatt. & !St. Lo uis- ~~1~~ $ 46,848 70,009 90.037 97,383 lOt,853 $ 20.393,112 20.283,469 2.'l.R~.705 20,883,820 ~a~~ ½=:::::::: ·:::: ···: ik~g 1g ~:~ii::~:: ~it?~~ g~g:i~• 8~i:~g~ 1.~:m 1J~~:t~ 1.1~:r~i :.~~g::~ t:ti:g~ 1:it:~~i ½:m:~~~ tm:g~ o1't;\idu'issi·ssii;~l~53 to 2,691 m.) .. 553,582 5611,964 691,612 877,665 901,100 1,012,507 1,000,011 971.i89 l,2i4,955 1,529-,285 *1.251,062 iggL::::::·::::·:: .. ::.::::::rnrn~1· ~~:g~t. . ~~:iu ~:~~ i~:~~ ~ig:~ ~&~:i~ rJ:m ~~u~~ 462,779 ~it~~~ ~~:~i ~i:m 1883 ... .. .. ................... (616 m.).. . .. .. . . . . .. . 316,882 319,379 307.119 300,690 470,443 . .. . . . .. . . ... . 27 033 288 076 l~L::::::::::::·:·:·::::::::rnrn::L ~~:M1 ~~:i~~ ffl:m ~:~ m:I~8 ~ga~t t~:~~ ~~:i~~ iiH1~ ~1J~ • ''Peo1•ia Decatur & Evansville1882 .......... . ............ (254m.).. 18.'l8 ...•..•...•................. (254m.).. 1884 . . . • . . . . . . . . . . . . .. (254 m.) .. 1885 ............................ (254 m.).. 66,67l 49,622 . 64,590 61,275 Pennl!lflvo.nio.- 74,KOf} 70,157 49,540 61,105 57,055 (All lmes east of Pittsburg & Erie)1 1881. ....•.•........ (+I ,844 to 1.887 m.) •• 3.189.215 a.095,614 8,l'l44,304 8,760,372 S,856,897 3,807,437 3.780.418 3,809.978 3,735.ooe 3,672.971 3,840,215 1882 . ....... . ..... (tl,887 to 1,981 m.) •• !l,!373,32113.306,750 8,91~,293 3.855,850 4,108,877 4.0\13,756 4.14P,l50 4,671.lW 4,417.602 4.860.054 4,373,825 1893 . .......... •.. . (tl.9Rt to 2.036 m.) .. 8.929.857 •3.~12,215 4,189.380 -t.061.750 4.Sos,ooo 4,15fl,871 u ao.950 4.775,~80 4,634,998 4,875,34R 4,473,479 3 950 937 • • :~:: :: ::::· :::::: ft~:~3i ~g ~:~8~ ::~::i:i~~~~.u~:~~ i:~:g~i tJ~:i~ t:~8~:1i~ i:~:~ ~:~:~g t:~1i:~t a~u~ ±:~i:~! Philadelphia & Ren.ding- 1881. ................... . ....... (846 m.) .. 1882 . ... ••.......... .... . . .... .. (846 m.) .. 1883§ ....•............ (846 to 1,583 m.) .. 1884§ ... .. ..•.. ..... . ... . ... (1.5.."iS m.) • • Danviiie..:..:<1·583 m.) .• n\~muouil& i~·::::::::::.::::: :::::::·.:}~g~::L ii~::::::::::::::: .. :::~:~~~?(~-?t:3:: Chn.1·lotte Col. & Augnstn.- 1,319,133 1,336,428 1,60'},568 1.603,075 l,290,4211.610.089 t,608,775 1,453,862 1.669,241 2.195,SOL 2.002,342 2,188.144 l,846,8661,794,645 1.91\1,502 ~~g:~~~ ~~i:~g~ 1882 ...... . ................. (308 m.). . 1883 ..•• • . . . . . . . . . . (808 to 337 m.).. 1884 ..••........... ... (337 tl 863 m.). . 1885.. ....... . .. . ...... .. (36d m.).. 61.775 70.618 tl5.3i6 80,41J4 {~L::::. '.:: ."::··.::::::J~9± ::L 10,568 Columbia & Greenville- 1884 . .•.......•.•........... . (294 m.).. 1885 ........ .. . .... ....... (291 m.J.. VfMJ.~~~ .~~.1.~!°:~.~-:-: ..... (353 m.).. 1.9_81l.948 :&,229,518 3.531.48d 2.940.54l 2,878,370 2,015.581:1 2.25fl,';41J 3.654.,91fl 2,554,183 ~:g~ ~~:±11 ~:m ~?:~ ~~·8~i ~i~:~g rn:m ~~g:~~~ lfJN~S ~:~~ ~iuijj ~~~:i~ ~k~~ ~~g;~~ ~~:Mi lf3J:rJ ~~:~~ :~~:~~g 862,922 8f:l3,7\J4 871.2i6 •882,500 822,448 834.1\40 886,710 80,851 7 7,IHS 83,096 69,106 t:4.043 fIB,23tl 75,578 11.2,2 ig:5~1 it:gl~ ~a~l 51l,768 72,343 70,3Ll 69,062 76.021 91,156 112,499 1,688,802 1.,703,46P 1,696.877 2,827.9-l2 2.377,424 1,707,295 t.835,725 1.7l4.7HC 2.026,459 2,810,489 2,979,0IJ4 2,14..,,764 2,767,71l2 2,428,21:14 2,641,85:& 48,203 52.954 54,816 52,82ij 44,052 47,961 48,241 46,286 3fl,217 44,094 a8,1l91J 42,745 40,788 46,785 40,879 45,982 48,296 58,786 48,07ll 56,259 68,14-'! 7l.411 64,27~ 80,150 99,125 98 205 M,7n3 95,477 88,528 !~:~~ 38,987 ~t~ 35,012 ~~:~i 100.112 41,827 &t:t.~ 63,400 118,800 30,974 i~:~~ 63,173 28,148 i~:~ 81,68-Z 45,100 88,737 ii:m 78,023 97,537 65,570 82,590 186,026 122,1\00 143,491 162.560 167,017 176,167 167.596 152,939 186,826 147,046 122,715 182.291 115,824 118443 115,614 45,728 1 39,481 i ~J:gg~ a5,tl17 110,!,135! llU,225 m:~~ l~L· ::.:::::·::.::::.::J~t~:L 1~J~ gg:~~g fi~:~~ ½~8:~~~i m:1~ m:~?J 1885 .•.•...•...... . ....... . . <853 m.) . . 100,004 97.005 121,185 124,094' 124,027 118 993 Western No1·th Cn.rolinn- ½~L::::: ::::::::::g~g {gJ83::L ~g:8t~ ~~:gt~ ~i:rs~ 1884 ........... . .. .. .. (206 to 274 m.) .. 29,212 :15,083 31.054 1885 .....•................... (274 m.).. St. L. Alt. & T. H. Main Line- 1881. .••••.•............ .. .. . . (lll5 m.) • • 18~2 .• .•.•............... . .. . . (195 m.J.. 33,0ltl 83,586 104,5371 100,826 107,227 102.153 131,901 101.747 133,327 U7, IJ65 i=::::::::··.-.-.-.-.-.-.-:::·:::::mg:t: m:~i· t~:Tgg 9::i,0421 93,400 18~5* ... ..•. . ...........• . ... (195 m.).. ½~L::::::::::: .. ::::::::::~m :t: ~H~1 64,i~ n:s92 ' g~:566 1888 ...•.•..• . ....... (121to 188 m.). . St. L. Alton & T. H. Brnnches- m:~~~ 110,534 ~:~ 65,525 1 66,870 58,262 i 73,038 208,547 1 178,599 so.951 74,2~7 66,896 269,963 8 15,9 38 1I 302 ' 663 1881. ...•••• . ...••.•......••.... (855 m.) .. · 1 158 M2 3':!5,714 823,343 1884 .................. .. .. (138m.).. 1-,t. .&;° ·Friiiicis~!~ m.) ·• 18Rl. •.•••...••......... . (597to661m.) .. lf;;°ls siiii ½~:::::.:::::::·::::::1125"t°/~i4:t: ~°t:8~1rJ:m i~k~ 18~ ...•••..••...•.••... (776 to 815 m.).. 8 13.70·9 3~2, rJ5 427,5~3 s~~:.-..ii"liiiiiu:·&iMn.nitob\~~~m.) .. t=::::::::·::::::::ci~~~tgg~~t: 1884 . •.• .. .......... (1,327to 1,471 m.) .. 1885 . ..•...•.... ....... ...•.. (1,471 m.).. Union Pacific- 1881.. ............. (a 2,854 to 9,300 m.) .. 1882 ..•..••••• •• .. (ti a.300 to 3,042 m.). 18'!3 . . •••..•.•... . (a 3.942 to 4,256 m.) .. 1834 . . .......... •. (a 4,256 to 4,476 m.) .. 1883 ... . .. . .. .. . .. {ti 4,476 to 4,499 m.) .. W n.bu.sh St. Louis & PacificltlSl ............ ... (2.47\lto::J,350m.) .. ~ut 3H,8H3 37,289 3-l,911 ~t•Z-~ m:~i~ ½~:~i~ 130,5701 144,753 187,304 82.124 3tS,437 113,650 102.9"~3 1 04 ;.'"' ~ 8 5 9 47 .,., v 83 1 23,337 88,132 40,218 48.059 87,24.d 118.844 125,592 130,0 86,1 166,637 1 129.984 154.lll7 131,6117 162,998 141,408 137,258 122,065 105,9M J55.8.'l4 lHl,522 104.557 103,279 96.935 124,f\21 186,249 95,168 ~k~ 64,289 72,817 74,961 60,85'1 67,050 74.192 75,355 74,108 61,453 ~~~:~ 276,056 833,026 395.462 89tl,Y57 4.68,365 300.166 813.~05 403.840 352,617 515. <'18 917.129 847.001 87 ,440 *865,878 fl20 l0!l 1 ~:t~~ ~~:Yrul 356.809 38~~.:.o~3 3 1 4 V 8l9,110 376,242 ' 426,132 ~~:i~~ 44.801 47,340 268/i 9 ~~:i~~ 365.873 298,94a 382,906 ~¼:~ 712.165 44,596 ' 58,267 52.817 59,760 252,889 281,862 6 2 1 91 72,643 27a.o53 ~8:m ~ ~• 1 1 t ~:ggi -lfl2,943 ., 25 1 14 893,763 ~g~~ ~~t:~~ 433,428 3 51:.1,2001 81}8,508 407.595 483,251 72.641 75,509 81,350 306,106 5 ~2 , 7~ 40 1 8 .,0 607,992 ~~:m, ;~:m ~1t:ggA 571,762 73>3,5861,014.862 6H,l67 605,156 576,011 *i07,800 *488,317 *401,55-:l *553,347 *52l,6ZO '\ *740.t:!45 *9U8,85S 2,811,M6 2 1 !3,002 2,718,4.00 8,037,621l 2,900.~0! 2,458,8 12 2 ,7,009 2,755,6tSO 3,IW2,4f\2 8,035.270 2.2w.59q 12. _dl.035 2.477 .402 2.88 : ,63912,9M:!.059 t1739t53 2,a;5,ti9H 2,417,710 2.486,827 2 849.214 1,\155,3116 :t,304,990 2,331,186 2,518,122 2,768,627 I 1 P67,033 l,148,669 l,S30,944ll,120.6151,542.124 l ,497,246 1,406,02Q 1,618,U79 l,5fl8,778 1.801,~1 12,072,3~7 !2,66~.~59 2,097,417 1.775,967 2.S24.847•2,312,6,4 2,421, ,68 1,916,854 1,673,224 2,391,75g 2,863.277 2,35 l,O 13 1,53,,tS94 l,540,754 1,9f\5,497 2,1Hl.520 12.091l.898 1,674,IJ-!9 1,563,949 1,975,al 7 1.9S7,191 2,067,52 ! 865,839 26.897 44.006 41,olS 46.771 1 55,416 45,518 274,0Sfl 813,3741,1.09,300 1 26,944 83,784 ro:m ~N~ ½~:~r~ 1° /il 80,604 ri:~i~ 8A:Z8~I t~i:m ng~ 84,395 81,152 117,787 113,713 64,l~ 50,132 46.549 ~:ffl ~:~~ i~:t16 ro:t~ 60.914 &~;~ ~:t& 11.114 80....,82 71,434 54,724 269,507 77.735 4.2,879 45,t,;64 88,833 25,787 1~~ • ~ ~:~~~ 4.8,794 46.821 ~:m ~g:l!t ~8:~rsi 29.628 85,719 Mi:g~: 70.!.04l ~~g:m m:ti 789.5tS\? 493'.t48 1 452,570 407,44fl 462,125 1j 395,217 2,000,986 1.W75.9Sl3 8,538,0::\8 3,2911.015 2,910,750 ,.· ..... 1.945.874 2.019.017 H,333,217 2,871',451 2.800,380 73,41\8 94,109 2,931 81,0IJ f 1,484,864 1,709,71? 1.726.616 2.855,673 2,3t3.973 2,681,!. 9 2,62t\2:14 2,625.H-'iH 2,414,238 .. ... . '1M,100 700,31-12 819,430 2,451,~07 29.124. 2,479,)!90 29.MS, 2.322.898 2,81·9·•·5·:!6 ··I r l,3':2,360 t ,294,61S71 1~ ... :::::::::: ..:?:~.t~(~:il~:3- .1:t~:~ ½:b~t,:~~IM~~:~~ Mi~:~~,l:~~:= Hl~:~ ~:~rn:~1 g~~:rn1t:~~:~~ ½:~~~:~ a~:I~ 1:ri~:= !1884 .• •• •• •••• •••••••••• . • (~.549m.).. l,251,0831 ,2.-.5,81411,3!R,ll66 l,187,14J 1,202,0321,174,3~ 1,234,,298 1,427.537 1.~27.875 1,466,294 1,125.4~ 1 1885 ................. (3,549 to .. ~373 m.) . l,309,564 l,104,0t8\l,So9,449 l,114,4~K 1,069.075 W41,35fl ll3 , ,678 l.1Si.3061.t'Sfl,160 1,306,0501 1,2 7,4"8 -~.• Approximate figures. t And 66 miles of canal. § Including Central of N. J. from and after June 1, ld83; the earnings of the Coal & Iron Compan y not Included in any of the years. . c lllmbracing corrections found necees•uy after monthly totals ha.d been publl~hed. f ln <•ludes Pel" ce nt of earnlnlll! N. Y. Pennsylvama & Ohio from and after May, 1883. a "iot Including St. ,Joseph & Western road. ; Afte r deductin,: $444.386 charged oft" b,- r. Adam• anumlng office. g lncludlng pool earntn P"e. ,. After July, earnings in 1884 are reported on reduced mileage to agree w:th 1885. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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